Evening Star Newspaper, March 19, 1928, Page 12

12 THE EV. G STAR, WASHINGTON, D. C. MONDAY.. MARCH _19. 1928, WASHINGTON GAS MARKET EADER Railway Preferred Also Ac- tive—Peoples Drug Sells 0ff Today. BY EDWARD C. STONE. NEW CREDIT FIXED FOR RUBBER POOL $60,000,000 Available for Op- erations of National Crude Product Reserve. By the Associated Press. As the week's trading opened on the Washington Stock Exchange derable interest was in mani- the action of Peopies Drug | ferred. which has been called | ew issue may | rate of ing. how- | dway stock Federal- ock came out | needed. NEW YORK, March 19.—A renewed leffort to put the American motor car owner on a less expensive rubber foundation was seen today in a rew credit arrangement of the so-calied “rubber pool.” This came in an announcement by the National Bank of Commerce in New York and the International Acceptance Bank, Inc., that $60.000,000 credit had been arranged for the national reserve for crude rubber or “rubber pool.” Of is amount $30.000,000 is available ow and the balance when and if Success of Pool Seen. The original credit arrangement a vear ago was for $40,000,000. Although there were varying explanations ad- and & Gravel pre- | vanced, it was generally agreed that itary Grocery |the financing plan indicated that the 3 jfarst year's operations were considered | successful by the pool. One explanation- was that the pool intended to buy rubber while it was nt | cheap, the price having declined re- ed |cently from 41 cents to 24 cents a | ex- pound. This decline was attributed to | might follow the snow and interfere | machines and to the reduction in prices White House Will Hear First German Songs Since War When members of the Arion Sing- ing Society of Brooklyn, N. Y., are received in May by President and Mrs. Coolidge, German will be sung at the White House for the first time since,the World War. ‘These singers, the star members of the Arion Society, 125 in number, will be presented to the President by William Calder, former Senator from Brooklyn. The German Ambassador, Baron von Prittwitz, will accompany the singers. | PRICES UNCHANGED - INLOCAL WARKET | Quick Disappearance of Snow Aids Haulers From Nearby Farms. Quick disappearance of the snow | that fell Saturday night and yesterday | was pleasing to local market dealers. | It was feared by some of the dealers yesterday morning that a cold spell a|the announcement from London that | with shipments by truck from nearby | | Premier Stanley Baldwin had appoint- | Maryland and Virginia. ! !ed a commitiee to investigate the work- | gs of the Stevenson restriction act, a | rialize, Butish law limiting exports of crude Failure of such weather to mate- | however, means that haulers | will not be interrupted. Receipts of Practically the entire supply of | commodities this morning were light, a crude rubber comes tnrough | usual condition the first market day: 'F. R. Henderson, president of the | New York Rubber Exchange, says that | looked for the Britisn survey to hannels. ‘ut the week, and the draggy condition of t market was not affected. ers were out as early as usual, but not in large numbers. Prices of bring a compromise on_the restriction | commodities this morning were sub- law—that 1s, its abolition—under a |stantially the same as those reported long notice to permit rubber estates in | Saturday. From experimen | tub, 50a51; store packed, 30. Today's Wholesale Prices. Butter—One-pound prints, 52a52!%; | FARM INPLEMENT SALES SHOW GAINS AQricuItural : Buying Power Increase Seen in Better Equipment Trade. BY J. C. ROYLE. Special Dispatch to The Star, NEW YORK, March 19.—Sales of agricultural implements since the 1st of January have shown an increase of at least 10 per cent as compared with the corresponding period of 1927, according to reports received from agricultural centers by telegraph today. . Unless there is a long spell of cold and inclement weather during the Spring. the distribution by the big agri- cultural implement firms will be larger than at any time for a good many years. This will have a marked effect on the outlook and profits of the farm- ers and the country in general through | the absorption of unemployed labor. | Agricultural purchasing power hasin- | creased as compared with a year ago | and the unusually wild Winter has fav- | ored early preparation of the ground for crops. This has led to extensive purchases of mechanical equipment so far this year. The agricultural equip- ment industry is thoroughly prosperous and Is igiproving its position steadily. | This is due to the developing of new made possible by quantity production. Six Have Better Profits. Six of the eight larger manufacturers | of equipment showed increases in profits | in 1927 and these increases have been | surpassed in the business done in the | last two and a half months. There is | every indication that there will be a substantial gain in corn acreage this yvear and this is influencing sales of | equipment. There also will be mate- rially heavier plantings of the other field crops. ‘The larger sales so far have been in tractors, threshers, combines and | other powered machinery. These have D. C. EXPORTS DROP. Merchandise Shipped Is Worth $18,494 for 3d Quarter of 1927. Exports of merchandise from Wash- ington, which have been declining in value for many years, decreased by $18,494 during the third quarter of 1927, according to figures made public today by the Commerce Department. Merchandise exports during the third quarter of last year were valued at $100,612, as compared with $119,106 during the corresponding period of 1926, a drop of $18,494 over the corre- sponding period of 1926. Wood and paper valued at $12856 anked first in order of value among the commodities shipped to foreign markets during the three months. Ex- ports of metals and manufactures of metals were valued at $5,739, followed in order by machinery, vehicles and parts, $5.163, and inedible animalsand animal products, $2,983. Among the diversified products ex- ported during July, August and Sep- tember, 1927, were animals and animal products (inedible), vegetable products, | beverages, medicinal and pharmaceuti- cal preparations and other chemicals and related products. The value of products exported from the District of Columbia during 1927 | was lower than that of any of the | States and Territories during the third quarter of last year. . SILVER QUOTATIONS. | NEW YORK, March 19 (#).—Bar silver, 571;; Mexican dollars, 44%. BUTTER 1S HIGHER. POTATO MARKET DULL. CHICAGO, March 19 (®)~Butter D'cchoo, March 19 (United Btates figher; receipts, 10,864 tubs; creamery | Department of Agriculture).—Potatoes : | —Receipts, 193 cars; on track, 481 c: extras, 48%; standards, 48%; extra| g op U‘:'Alred Btates .',h)ymrknu Satus firsts, 47a48; firsts, 45a46'%; seconds, | day, 975 cars; Sunday 17 cars; demand 42a44",. Eggs lower; receipts, z':.nsl{nnd movement, slow, market dull, cases; firsts, 261%a27; ordinary firsts, | Florida Bliss Triumphs in crate No. 1, 26; storage packed extras, 29; storage |4.00; No. 2, 3.75: Wisconsin sacked packed firsts, 281/,a28%. round whites, 2.15a2.25; 1daho sacked s s russett Burbanks, 26042.85; commer- clal, 2.00a2.25. FREIGHT TRAFFIC DROPS. NEW YORK, March 19 (#).—Freight traffic on Canadian raflroads in the week ended March 10 was 62,497 car- loads, against 64,382 the week before, and 65028 a year ago. Receipts from conrections were 43,370 carloads, agains 43,533 the previous week and 44,304 a | year ago. -— PROFITS INCREASE. NEW YORK, March 19 (7). Constable Corporation earned $3.20 = share in the year ended January t $1.61 a share in 1l 4 Sales were $13,52 $11,520,011 the year befo Amld W, B, Moses & Sons Public Confidence Since 1861 9 to 5:30 F Street at Eleventh Main 3770 Extraordinary Pre-Easter Selling of Silk Underwear [ ] made at ‘:v-"burea | cut crop production costs materially and the movement has only started. | better But, if the restriction is maintained, an the|prices are apt materially to advance, he said, and if it is abolished the re- | cent market decline may , have suffi- ciently anticipated the move. He took e credit arrangement to mean that J the Cotton Tex- tes that new linen and used in making the th 3 ortion of 75 per | ish price manipulations. The membership of the rubber pool includes the United States Rubber Co., | the Goodyear Tire & Rubber Co., the ire Co., the Ajax Rubber Co., the Fire- Fisk Rubber Co.. the Kelly-Springfield ' 1gas {135 129a30; current receipt Eggs—Fresh selected, 28a29; hennery, 27. Poultry, alive—Turk chickens, 35a38; fowls, 26; roosters, 17a | Hlaé ducks, 24a25; keats, young, 70a75; | {old, t o | Spring chickens, e American pool feared further Brit- ; 28a30; small, 25a26: capons, fancy, heavy, 42a43; small, 30a 135; ducks, 27a28; keats, 80a90. 35, Dressed—Turkeys, 35a40; fowls, roosters, 38a45; | large, 20a2 fresh ' killed—Beef, 20a22; 2424; lamb, 28a30; fresh hams, | : 1dins, 17a18; fresh’ shoulder, 12a smoked hams. 23; smoked shoul- Meats, 22; sione Rubber Co., the Goodrich Rubber | ders, 12%,a13; calves, 13a14; lambs, 13. Co.. General Motors, the Studebaker | Corporation, Dodge Bros., Willys-Over- | 2| land Co. and Packard Motor Co. among Fruit and Vegetable Review. ‘Today's market report on fruits and 37a40; Spring | sulted from the others. The major electrical manufac- | vegetab.es turing companies are interested in its News Service, Bureau of Agricultural workings. T easury Deparimi eepted a type of paper developed by the bureau as the standard two principal directions 5,000 doubie folds. “The investigation was begun when was found that the life of dollar bi which constitute the greater part of peper currency, decreased contin: untl in 1924, when it averaged ths. Prior to that the average u life of a bill was 20 months. The use s increased three- and this at 341, 104. 5 at 104. Mergenthaler Linotype—10 at 103%, | o 3as, 1t 10 at 103. - Nowsgg This annuzal replacemen 000. e T C— 1 Washington Stock Exchange s Sales. ashington Gas 65 “A’ 500 at hington Rwy. & Elec. 45—$1,000 at 93%. Potomac Electric 5!2% pfd.—10 at 7 2 at 107%. Washington Gas Light—20 at 89!, 110 at 8915 5 at 89’5, 10 at 89!2, 10 a 8912, 5 at 89%,. P Vashington Rwy. & Elec. pfd.—10 at <. 40 at 1033, (compiled by the Market | Economics). says: Apples—Supplies moderate; demand {light, market duil; barrels, Virginia, U. . No. 1. 2! inches up. Winesaps, bes 8.00a9.00; poorer, 7.50; boxes, Wasl ington, medium to large size, extra | fancy, Delicious. 4.50a5.00; Winesaps, |4.00; ‘bushel baskets, Pennsylvania, S. No. 1, 2!4 inches up, Romes and | Winesaps, 3.00. | Cabbage—Supplies of new stock mod- erate; demand light, market dull; Flor- ida, 1'; bushel hampers, pointed type and round type, 1.75a2.25; T round type, mostly 3.50. es light; demand light, ! marke! y: Florida, 10-inch crates, 6 Sral Rmetican Natoual\Bank —10 |42y dogen, 350 110/ d08en: 3004325, Columbia Sand & Gravel Peoples Drug Stores pfd.—5 at 126, 2 at 126, 5 at 125, 10 at 125. Potomac 107%, 10 at 1073 After CalL Electric 512% pfd—15 at Potomac Ele 65 1953—$3,000 at 110815, Natiopal, and Evens. jr., executive vice president Dis- trier National ntrolier urned to Wash- Riggs. e, manzger of Beligman & Co. went from New Orleans 1o Fiorida u et an advance jook at the W ball ciub and sce how D pects are shaping up. Locz] ban report that the most imieresting discussions o0k interest rates and bank rz made president. Foos and Textiles Advancing. W 2! of the 10 Washington Gas 65 B—200 at 106%. Sanitary Grocery Co. pfd—10 at 1082 Peoples Drug Stores pfd.—10at 12415 Mergenthaler Linotype—5 at 1033, 5 ngton Rwy. & Elec. pfd.—10 at vlomac Electric Cons. 55—$2,000 at Gas 6s “A"—$500 2t 103 Washington UNLISTED DEPT. Metropolitan Club 4125—$1,000 at 91, $1.000 at 23 Money—Call loans, 5 and 6 per ce Bid and Asked Prices. .| fancy, PIA—10 at | ol Lettuce—Supplies of Western stock demand light, market steady; crates, Iceberg type, 4-5 ornia, | Onions—Supplies moderate; demand {light, market steady; Michigan and { Ohio, 100-pound sacks yellows, U. 8. No. 1. medium to large size. 4.50. | Potatoes—Supplies of old stock lib- { eral; demand moderate, market steady; | Michigan, 150-pound sacks Russet Ru- | rals, 4.00a4.25, mostly 4.25; Pennsy | vania, 150-pound sacks round whites, U. 8. No. 1, 4.00a4.25. { Spinach—Supplies moderate; demand | light, market steady; Texas, bushel bas- | kets Savoy type, 1.00a1.10. | Strawberries—Supplies light; demand | light, market steady; Florida, pony re- | frigerators, Missionarys, 40a45 per quart. i Tomato Market Steady. | Tomatoes — Supplies light; demand | ight, market steady, repacked in New ork City, unknown origin, 3s, ripes, Tapped, fancy count, 4.50a5.00; choice count, 3.5024.00; repacked in Pittsburgh, unknown origin, 6s, ripes, wrapped, fancy count, 9.50a10.50 | String beans—Eupplies of good stock | very light; supplies of ordinary stock | moderate; demand light, market dull; | Florida, 7% -bushel hampers green, flat ! type, wide range quality and condition, best, few sales, 4.00a5.00; ordinary qual- ity and condition, 2.50a3.00. Cucumbers—No supplies on market. Peppers—=Supplies light; demand light, | market dull; Florida, pepper crates 4.0024.50; choice, 3.50; Mexico, | crates, 4.00. Squash—Supplies light; demand light, . | market dull; Florida, pepper crates, 00a5.50, mostly 5.00. Carrots—Supplies light: demand light, ' steady: Texas, Western lettuce | , 3.25a3.50; bushel baskets, 2.25a | Great Northern, plies light; demand light, . Texas, Western lettuce | Supplies light; demand teady; California, pony ht; demand limited, | o, crates, 6.25 {oes —Supplies moderate; 1d moderate, market steady; North | Carolina, cloth-top barrel yellows, No, 004350, few higher: Tennessee, bushel-hampers Nancy Halls No. 1, 2.00. | Bouth Carolina, bushel-hampers Porto ! buying power, | Much of the cutting of costs has re- smaller number of | farm hands it has been necessary to | employ. Even in the harvest season, | which is now about to start in the ex- treme Southwest, the number of la- borers required will be far fewer than | in recent years. This may have some effect on the unemployment situation | as it affects itinerant and unirained labor. | It is maintained, however, that work- ers who are dispiaced by the machines are not necessarily thrown out of em- ployment, since the increase in out- put resulting from the use of machines provides a buying power which as- sures increased activities and larger | labor requirements in manufacturing and other fields. Output per wage | earner in this country between 1914 and 1925 increased 40 per cent, whereas the total manufacturing output in-| creased over 65 per cent and the value of the products sold rose from $24.000,000,000 to $63.000,000.000. In | order to meet the demand of the ex- panded market resulting from higher empioyers required a million and a half more laborers. Dairy Equipment Outlook. Sales of dairy equipment and ma- chinery are likely to be extremely high this year. Shearing is now under way in the Southwest, and this portion of | the livestock industry is, of course, thoroughly and efficiently equipped me- chanically. Most of the wool now be- ing clipped has already been sold for some months at adequate prices. Sales of mechanical eguipment in! Canada are likely to be at an even higher per capital ratio than in the United States. The Canadian farmers are in a remarkably strong financial condition. This is sure to show ftself in the volume of sales of the American manufacturers with branch plants in| the Dominion. i TOBACCO TRADE DROPS. BALTIMORE, March 19 (Special).— | | Both receipts and sales of Maryland leaf tobaeco showed sharp declines last week, the former totaling only 63 hogs- heads, while sales amounted to 97 hogs heads, which leaves a stock in S tobacco warehouses of 4,527 hogsheads Demand continues good for most grades at the following guotations per 100 pounds: Inferior, 5.00 to 8.00; frosted, 3.00 to 4.00; sound common and green- ish. 9.00 to 16.00: god common, 17.00 1o | 30.00; meduim, 31.00 to 40.00; good to! | fine red, 41.00 to 55.50; fancy, 56.00 ‘0 | 58.80; seconds, common to medium, 500 to 2400, seconds, good to fine, 25.00 tn 45.00: upper country, air cured, | 3.00 to 25.00; ground leaves, nominal. | NEW LINE OPENED. NEW YORK, March 19 (#.—1. B.| Tigrett, president of the Gulf, Mobile & Northern Railroad, says February net operating income will be about $40,000, against $89.505 in February last year, | the drop being chiefly due to new mileage being operated between Union | and Jackson, Miss., giving entrahce into | New Orleans over the New Orleans- | “This mileage repre- sents an important addition to the ! rozd,” he said, “and no doubt will prove | to be highly profitable. We are working on the development of new b along this extension.” Gross have been running ahead of a EARNINGS SHOW GAIN. | NEW YORK, March 19 (#).—Niagara, Lockport & Ontario Power Co. and sub- | diaries carned $4.54 a share on the common in 1927, with net income | $2,063,075, against $445 a share An event of outstanding importance that comes just at the time when one begins to think of the lingerie needs of Spring and Summer. The most unusual values in Silk Underwear and Negligees that we have ever offered. All our regular quality; some slightly mussed; some slightly soiled; all greatly reduced. Many special purchases were made, and these, greatly underpriced, are included. Addi- tional floor space and extra salespeople to serve vou quickly. See the Three Windows Devoted to This Extraordinary Event $).85 Were $4.50 and $4.95 Chemise, Bloomers, Gowns, Step-ins, Cos- tume Slips and Dancettes, of crepe de chine; lace trimmed and tailored, trimmed with rose- buds. In all the pastel shades. - $4.85 Were $5.95 to $9.75 Pajamas, Chemise, Bloomers, Dancettes, Gowns, Step-ins and Petticoats, in crepe de chine and georgette crepe; tailored with pleats or lace trimmed. Negligees of crepe de chine and satin in pastel shades, a few in black, with fagoting and contrasting shades. $6,85 Were $8.50 to $9.50 Gowns of crepe de chine, lace trimmed with round necks, tailored with Vee necks. Chemise of crepe de chine trimmed with lace; some hand embroidered. Pastel shades. $8.85 Were $9.75 to 815 — e = | 3 Chemise, Gowns, Slips, Dancettes, Pajamas, Ricans No 1, 100 1926, and net income of $2,030,672. LIRS T MOR T G AYG in radium silk and chepe de chine, plain, lace trimmed and hand embroidered. All the pastel shades. Negligees of crepe de chine in pastel shades and black or flowered radium and crepe de chine. Trimmed with contrasting colors. * SECURITY —is a term sometimes applied to values that as a matter of fact are insecure, But there need be no questioning of the term when applied to the im- proved realty underlying our $14.85 Were $16.50 to $22.50 Gowns and Chemise, of crepe de chine, geor- gette crepe and crepe-back satin, lace trimmed with pleated flounces. $6.85 > FIRST MORTGAGES Ouver a Third Negligees of crepe de chine, satin, georgette crepe, crepe-back satin, with lace or tailored. of a We have made our selections Century of property on the approval of conservitive appraisals exclu- LR sively, thus making absolute the assurance of safety of principal and safeguarding all interest payment obligations, F. SAUL CO. 925 15th St. N.W. Loss 25 to $45 egligees of crepe-back satin, crepe de chine, panne velvet and georgette crepe; trimmed with ostrich and mari- Pastel and Oriental de- DU PONT STOCK T0 ISSUE WILMINGTON, el 5 t 4 B. Main 2100, bou. shades signs. Bilk Underwosr Section, Fist Flo THERD. SUBSTITUTE FOR A A0 i SAFETY Chaciviiend, Yabs ealin,