Evening Star Newspaper, March 20, 1928, Page 11

VENING STAR, WASHINGTO WRENERGERAD 532 s, VECETABLE SUPPLY YORK, March 20 (#).—Rumors D. ©. TUESDAY, MARCH 20, 1928. Maine, 150-pound sacks Cobblers, U. 8. No. 1, 4.50, few higher. Spinach—8upplies liber: light, market slightly weaker; bushel baskets Savoy iype, 95a1.00; ; demand Texas, WHEAT HAS REACTION| BUYS TWO BANKS. AFTER EARLY CLIMB su;mnnnh Institution Acquires At- v NEW TU IRAUE ABRUA | and Missour, Kansas & Texas Rafiroads ‘hnd been -Mndnnedi were denied yes- Big Help to U. S.-Latin! America Business Seen in l 1. T. & T. and Mackay Plan. BY J. C. ROYL Bpecial Dispateh to The Star. NEW YORK., March 20.—The foreign trade of the United States, especially that with Latin America, undoubtedly will be affected if the merger of the International Telephone & Telegraph and the Mackay companies, now under consideration, goes through. Internationa! trade experts have d clared repeatedly that prompt and ea: cation was 8 prime essential of commerce. This n providing such is approved. | ers can tell short- want to know for- closely or not The Interna phone & Tele- graph Co. ope 1aries telegraph r ems Mexico, Cuba. Porto Rico, Brazl. It also acts household electr uipment for the General foreign countries tele- eh connect United Central and South America Prominent Plac it has been ir ness on'v has attained a prominent foreign communications had & net income of States with Ha Although feld 1 1 $14.413.495 for the P the facsimile and The finan- Companies’ me calis are now being made at the rate of 75.000.000 a dav in the United Etates. The rate is not so high America. b Iy a mod- of conversations he Mackay Companies 1s | " IS OPTIMISTIC ON 1928 | that his plan 'for & merger of Kansas City Southern, St. Louls Southwestern INMARKET LIGHT terday by Leonor F. Loree. A new plan, he reiterated. will be ready for submission to the Interstate Commerce Commission on April 2. Mr. Loree declined to comment on reports that stock of the Missouri- | Kansas-Texas, which was acquired as | part of the original consolidation pro- gram, had been sold. Purchase of these shares had been disapproved by ithe }X’n't‘rm(al:dcnhmgerce ccomm. fon, which has cited the Kansas City South- | o to appear next Monday to answer | Light supplies of most vegetables be- | charges of violation of the Clayton act | ing received from Mexico, Florida, through continued holding of the se- | Texas and California were reported this P morning, with only limited demands. ! ek Only supplies of cucumbers in the col 'ON HAS ADVANCE‘ local market this morning were those grown in hothouses. Beets, caulifiower, | 0 lNN'NG I URES carrots, squash, string beans, peppers | N and tomatoes were the vegetables re- All Months Make New High light demand for moderate receipts of Ground on the Movement in apples made the market dull. Bananas . s continued plentiful and cheap, while Today's Dealings. strawberries, product of Florida grow- | ton market opened firm today at an | plentiful enough to continue prices re- | advance of 15 to 31 points. active posi- | ported the past several days. Prices tions quickly selling 28 to 36 points net | of practically all commodities were sub- higher on covering or rebuying by re- | stantially the same as prices reported 19.39 and October to 18.90. These Eggs—Fresh selected, 28a20; hennery, | 29a30; current receipts, 2' Poultry, alive—Turkeys, 37a40: Spring fowls, 26; rooster: ported in light supply. Liberal supplies of old potatoes and | ol ers, were not so plentiful for the berries was reported light, mak- cent sellers, evidently influenced by the | yesterday. inning figures | # ® = | Today's Wholesale Prices. keats, young, Turkey Meats Are Plentiful at Unchanged Prices. moderate supplies of onions, cabbage, spinach and lettuce were reported. A By the A ed Press ing the market steady. NEW YORK. March 20.—The cot- | Poultry, butter, eggs and meats were All months made new high ground for the movement. May selling up to| Butter —One-pound prints, 52a52'%; tub, 50a51; store packed, 30. ’ oest by the end of the first hour. The census report showed ginnings of 12.777.505 running bales, counting round as half, from the growth of 1927, making 12.950.473 equivalent 500-pound bales, compared with the Government's December estimate of 12,789.000 bales These figures were considered very close 1o the forecast, and demand was attrib- uted partly to a renewal of last week's : lamb, 28a30; fresh hams, buying movement, which had been . 17a18; tresh’ shoulder, 1 | checked by uncertainty as to the show- | 13; smoked hams, 23. smoked shoul- ing of this morning's report. | ders, 121,a13; calves, 13al4; lambs, 13, REPO R_T: 6F sK E‘E';Y’ oIL ; Fruit and Vegetable Review. Today's market report on fruits an vegetables, compiled by News Service Bureau of Agricultural | Economics, says: | Apples—Supplies moderate; demand | light, market dull; barrels. Virginia, | United States No. 1. 21, inches up, Dressed Toosters, y, 42ad3; sin 1 keats, 80uv0, fresh killed-- Beef, d NEW YORK. N. Y., March 19 () .— An improved outlook for the ofl in- | dustry is predicted in the annual re- | Poultry, Butter, Eggs and! The demand | % the Market | some ordinary condition, 75; Norfolk section, Virginia, bushel baskets Savoy type, 75a90. Strawberries—Supplies very light; de- mand light, market stronger; Florida, pony refrigerators Missionaries, mostly | | around 65 per quart. Tomatoes—Supplies light; demand | limited, market firm; New York City, unknown origin, threes, ripes, wrapped, fancy count, 4.50a5.00; choice count, 3.5004.00; repacked Pittsburgh, threes, ripes, wrapped, choice count, 4,50, 108s, 3.50a3.75; originals, Mexico, lug boxes ripes and turning, wrapped, 7x7 count, mostly around 5.00; 6x6 count, mostly 5.50, String Beans Dull. String beans—Supplies light; demand light, market dull; most stock ordinary quality and condition; Florida, 7 |bushel hampers, green, 2.0024.00; wax, |no sales reported. Cucumbers—No supplies on market. Fggplant—Supplies very light; too | tew sales reported to quote Squash—Too few early sales reported to_quote. Peppers- light; demand |light. market dull; Florida, pepper | crates, fancy. 4.00a4.50. | Carrots—-Supplies light: demand light, steady; Texas, bushel baskets, 5a2.50. Beets—Supplies light; demand light, firm; Texas, bushel baskets, punched, 2.50a2.75; mostly 2.75. Caulifiower—Supplies light; deman light ket steady; California, crates, 2.00a2 Oranges—Supplies liberal; demand moderate, market steady: California, boxes, Navels, medium size, 6.00a6.25; large ‘s discounted: Florida, boxe: mostly Valencias, medium size, 7.00, large to small size, discounted. | " Grapefruit—Supplies light; demand moderate, market firm; Florida, boxes. medium size, 5.5026.00. in e Supplies | market d | STEEL TRADE GAINS. Running Ahead of 1928, By the Assaciated Press BALTIMORE, March 20.—“Produc- tion and consumption. so far as our | 1 company is concerned, is about balanced for the first quarter of the current | year—that s to say. shipments an bookings averaged about 300 tons dai aid A. J. Hazlett, president of the East- Rolling Mill Co., in commenting on | | the outlook for the steel industry. | “We have enough orders booked,” he | added, “to keep the plant going in full for at least two weeks, even if we did | another order during that | Corn, Oats and Provisions Also Are Firmer at Times in Dealings at Chicago. By the Associated Press, > CHICAGO, March 20.—Unlooked-for strength shown by wheat quotations at antic Concerns in Charleston, SAVANNAH, Ga., March 20 (#).— Purchase of the controlling interest of Atlantic Savings and its subsidiary, the Atlantic National Bank, both of Charles- ton, S. C. by interests identified with the Citizens’ & Southern National Bank of Savannah was announced to- day by Mills B. Lane, president of the local institution. In announcing the purchase of the Charleston bank Mr. Lane said that for lof varlous speculators developed today | In the situation is the increased buying Liverpool led to an early advance to-|the present the two institutions would day in wheat values here, but reactions | continue to operate as at present. with foilowed. Liverpool upturns were ac-|the present personnel continuing in companied by reports that urgent de- |thelr positions. mand from Continental Europe was ex- | A. E. Bird, formerly vice president of Dected for nearby wheat. Starting at | the Athens branch of the Citizens' & a shade to 1 cent gain, Chicago wheat |Southern, would become president of Rfterward underwent a sag. Corn. oats |the two' Charleston institutions, Mr. and provisions also were firmer at | Lane said, but his guccessor has not yet times, corn opening % to %c higher, |been sclected. but later reacting to a low at yester- day's finish, i Simultaneous with bulges n the | wheat market today rye advanced to a new high-price record for the season. Advices which were current telling of FOR $12,000,000 LOAN more pressing need of breadstuffs for| TISBON, Portugal, March 20 (#).— Continental European countries, how- | The Portuguese government is planning ever, were largely counterbalanced by |an external loan of $12,000,000 for the | word that liberal purchases of Argen- | financial reconstruction of the state and | tine wheat for Europe had been effected. | also an internal loan which will be used Profit-taking sales on advances here | for improvements in the country and a also were much in evidence. reduction in the internal floating debt. Persistent selling of corn on the part| The Bank of Portugal has convoked a meeting of all bankers who have prom- when the corn market scored advances | ised to support the government under- because of talk of prospective further | taking. export business, combined with a de-| (Portugal recently applied to the crease in corn arrivals throughout the | League of Natlons for assistance: in West. On the ensuing declines, though, | floating an external loan, but withdrew another speculative group became con- | the application when the terms out- spicuous on the buying side of the mat- | jined by a special League committee. did :c‘:'p:lnd did a good deal to keep values | not meet with Portuguese approval.) se. PORTUi;AL 1S PLAN-P‘IING 'FLAT STEEL DEMAND HEAVY. NEW YORK. March 20 (#).—Flat steel rollers in the Youngstown district, including Trumbull Steel, Sharon Steel Hoop. Newton Steel and. Youngstown Sheet & Tube, are operating at capaci- ty. with pressure for deliveries coming | from the automobile trade. Heavy ton- | nages of automobile steels also are be- | ing supplied by the McDonald Works | of Carnegie steel. | MACHINERY MOVING. NEW YORK, March 20 () —The | trend of business in machinery and ma- chine tools again is upward, with many indications that the first half of 1928 will e a record volume of busi American Machinist reports. A feature interest by raflroads, although automo- tive activity continues to furnish a large part of the business. é Lt Pt PLAN 7 PER CENT DIVIDEND.| MEETING ADIOUANED. = | BERLIN, March 20 (#).—The board | journment of the annual meeting of | of diractors of the German Atlantic |Jordan Motor Co. until May 21 was to| Cable Co. today decided to propose a | give directors more time to formulate | dividend of 7 per cent for 1927. No certain plans for prentation to stock- dividend was declared during the pre- | holders, savs Edward S. Jordan. vious year. It was stated that traffic | s PRICES ON PARIS BOURSE. has increased notably since the nrv\i Azores cable has been in operation. | | PARIS, March 20 (#).—<Prices moved Our constant endeavor A LITTLE BETTER FOOD A little nicer crowd A little more comfort The “little mores” that make the big difference LIBERTY LIMITED Less than 19 hours to Chicago—No extra fare Leaves Washington . . . 3:10P.M. Arrives Chicago . « . . . 9:00A. M, PENNSYLVANIA RAILROA and shower asprescribed by the Creator, and gave man whole wheat to help keep him well. Be wheat’s worth is best for you when eaten 100% whole, we make cereal and flour of whole wheat only, at our century old water-power mill in the sweet sc D ess men have over | POrt of the Skelly Ofl Co., sent to stock- | Winesaps, best, 8.00a9.00: poorer, 7.50- | DOt receive business is being irregularly on the Bourse today. Three ihvected in the countries | holders vesterday. The industry, as a | which will be connected | whole, experienced one of its WOIst|size extra fancy Delicious, 4.508500; “We have got to make it easier for | YeArs in 1927, when American produc- | Winesaps, 4.00; bushel baskets, United foreign nations to buy our goods in | ton of crude oil was 17 per cent in States, No. 1. Pennsylvania, 214 inches | every way we can’ declared J. D. |€Xcess of 1926 totals and greatly in ex- |up, Winesaps, 3.00. | Mooney. president of the General Mo- | ¢ess of the demand | Cabbage—Supplies moderate; demand | boxes, Washington, medium to large | interval, but new booked in satisfactory volume. We ex- pect a large tonnage during the second | quarter. | “Our business thus far this year is substantially in excess of the corre- | tors Export Co., today. “Improvements in means of communication and trans- portation have brought nations closer together until today there'is only slight difference between the mechanics of domestic and export business. The long- distance telephone. the lane. the radio and the motor car have changed ally. Facilitates Branch Operation. *Our offices in Brasil Argentine and D keep up constant communica- one another by wireless. Many use airplanes to transmit mail. Great are able 1o operate 1 over the world because of the improvements made in communica- tion and transportation.” America's trade with the nations which will be connected by the newly projected srrangements now is in a fairly satisfactory state. That is. it shows a moderate balance of trade in favor of the United States. This needs since the competition, espe- y m Great Britain, German: Ttaly and France. is becoming more in. tensive daily. All of these nations have an advantage in ships and shipping facilities as compared with the United States. The distance goods must carried favors this country in most in- | stances | It behooves the United States, there- | fore, o make the most of the advan- tages of communication which now are undoubtedly possessed. In the fluctua- | tions of foreign exchange alone such advantage is of invaluable benefit. Wall Street Briefs STOCK EXCHANGE SEATE Transfer of two memberships in the New York Stock Exchange has been ar- at a new reeord price of $325.- 000 each, subject to approval of ex- change horities. This is $5,000 above | | | INTERNATIONAL BUSINESS MA- CHINES —International Business Ma- chines had a prosperous year in 1927, eamnings being equal to $7.66 a share | against $651 a share in 1926. Net profit| yose o $4.435313 from $3,766,249. | AMERIC. DEPT. STORES CORP. thousand shares of no par| g common stock of Ameri- can Depar it Blores ration will be offered for public subse: x'wn short- | 1y by Bchulter & Co. and W. H. Jones & Cno. | DELAWARE & HUDBON —J Loree, vice president of the Delaware & Hudson C nates that gross reve- rues a ruary will 3 ] @ue W slowing down of business the last two wereis of Lhe mos Current traffic | is running behind 1 but the change | in eheracter of business moved wouid | help ezrning: he believed i AMERICAN BAPETY RAZOR.—Mil- ton Dar nas been elected pres ¢ American Bafety Razor Co, suc- Joseph H. Kaufman ace, vice president and Carl Federal RON. —Colo- COLORADD FUEL & g 10 & share | carned § preferres share derlined 0oks Marer more rrent propers 622087 talizatior per o Zan 00 Tne # Air Besiie the co PUBLIC 14 ] 1CE OF Jerse et 244 “There is no present reason to be- | moderat v leve that 1928 production will Teach | Florida. =111 pusmel hampers.” o the unprecedented mark set in 1927 | type, 2.00a2 50, mostly 2 34n3 50: 1 | the report states, “and it is likely that | bulk per ton flat type, few s | large drafts will have to be made on old stock, New York, sacked per hun | stock in storage. Through this reversal | dredweight Danish type. 150 | of ‘conditions, ‘the industry may expect | Asparagus—Supplies fight: demand | xpnr::':s"bemr average prices and llrl?rillmnod. market steady; California | dozen b o ; ! Punhtfr - i ethe e 1t s.son unch crates: green, large size, ustry is seen in the disposition of oil | Celery— ¢ companies to study the fundamental market ,.fi%‘i”";?n‘rfifs':‘ causes of recurrent periods of over- 6.3 dosen, 325a3.50; 3 production and to devise means for 325 it stabilization. Net earnings of the .:;omp‘ny in 1927 Lettuce Market Steady. were $7.841,728, equivalent to $1.31 on| Lettuce—Supplies of Weste: the common stock. as compared wnh!moder fe: eman ‘moderats. Toacest | 85,691,345, or $5.56 per share, in 1926. |steady: California, crates, Iceberg type | 4-5 dozen, 3.25a3.50; some fair condi- tion, 3.00; supplies ‘of Southern stock light; demand light, market steady: demand light, 10-inch crates, 3-4 dozen, 3.00a Sl WRIGHT PROFITS 6m 5 | Aeronautical Corporation earned $3.74 | tion, | per share on the capital stock in 1927 | as compared with $2.80 in 1926. the an- | nual report shows. Net income was | $933.899 as compared with $700,688 for | 1926. Unfilled orders on January 1 | totaled $4.466.520 as against $1.925.641 | and since then $3,327,275 in orders have | been booked. wide range prices, 1',-bushel hampers big Boston type, 2.00a3.50. Onions — Supplies moderate de- mand light, market firm: Michigan and Ohio, 100-pound sacks vellows. U. 8. No. 1,.medium to large size. 4.60a4.75, few higher; some medium, 4.50. Potatoes—Supplies liberal; | moderate, market steady: demand | NEW YORK. March 20 4P —Wright | Florida, wide range quality and cond. | SILVER QUOTATIONS. NEW YORK. March 20 (. —Bar :u-i 57%. Mexican dollars, 44. Michigan, | 150-pound sacks Russet Rurals, U. S. { No. ‘1, mostly 4.3025.25: Pennsylvania | and New York, 150 d sacks round whites, 4.00a4.25; _Idaho, sacks Rurals, U.'S. No. 1, 350a375; nd | sponding perifod in 1927. The mill is ng 24 hours daily, employing 1.000 in three shifts of eight | | runnt men, worki hours each.” BUII;DIN’(’)’ CONTRACTS UP. | NEW YORK, March 20 (#).—Build- ing and engineering contracts aggre- gating $134,280,000 were awarded in | the 37 States east of the Rocky Moun- tains the past week, an increase of nearly $22,000,000 over the record for the previous week, F. W. Dodge Cor- | poration reports. The daily average of contracts from January 1 to March 16, amounting to $18,839,200, shows an in- crease over the daily average through the first three months last year. The largest contract for the weck was $5.- 000,000 for an electric power plant in | Massachusetts, | REVENUES SHOW dAIN | CHICAGO, March 20 (#).—The Ken- tucky Utilities Co. reported today that | its» 1027 gross operating revenues were $5.042,432, compared with $5,119,766 in {1 Income after Sond interest. | amortization and other expenditures | was $1506,690 in 1027, compared with 151,325,357 In 1926. Available to com- | mon stock after preferred dividends | $860.543 in 1027, against $691442 The company serves 167 com- | | | munities. . | A surprising number of people are denying themselves a Pierce- Arrow, believing it beyond their reach. Actually, Pierce-Arrow ownership is one of life’s great luxuries—without the penalty of great cost. FROM $2900 AT BUFFALO You may purchase a Pierce.Arrow out of income, if you prefer. A simpli- fied financing plan makes this a most practical procedure. Your present car accepted as cash up to the full amount of its appraisal valuation. “Pierce-Arrow Prestige Justified by Pierce-Arrowe Perfection” DAVID S. HENDRICK 1141 Conn, Ave, Franklin 4541 Bervice Stationy Untario Garage, 1700 Kalorama R4, NEW YORK MARKETS. per cent rentes. 67 francs 45 centimes; NEW YORK, March 20 (#).—Rve five per cent loan, 88 francs 20 cen- fArm: No. 2 Western, 1.36' f.o.b. New | times; exchange on London, 124 francs | York, and 1.34!: cif. export. Other |2 centimes. The dollar was quoted at| articles unchanged 125 francs 40%, centimes. | orth Distributors THE CARPEL CO. 1361 H STREET N. E Obtainable at afl D. G. S. Seares pring clean your Any motor car that is driven all winter needs a thorough “going over” in the spring. An hour or two spent oiling and greasing your car now will give you a feel- ing of greater security and may save many repairs later. For your convenience a list is printed below of the parts normally requiring atten- tion at this time of the year. The K car correct “Standard” lubricant for each job is also specified. Clip out this list and use it as a handy reference. If you prefer to have your “Standard” dealer do the work, turn it over to him, with theitems checkedwhich you want serviced. You can always depend upon “Stand- ard” products and “Standard™ service—any time of year or any place you go. WORK CHART and RECOMMENDATIONS [ Flush crankcase [ Refill crankcase with fresh oil [] Lubricate chassis all points [Z] Fill all grease cups [J Clean rust from springs [ Check and replenish (if necessary) grease in trans- mission and rear axle [J Lubricate open universal joints (] Clean outside of motor ] Wash and polish body [0 Oil generator and starter When any product of petroleum is sold under this emhlom “Seandard™ “Standard” Flushing Oil Motor Qil (consult chart for correct grade) “Standard” Pressure Gun Grease “Standard” Motor Cup Grease “Standard” Penetrating Oil “Standard” Transmission Oil or “Standard” Gear Compound “Standard” Motor Cup Grease “Standard” Kerosene “Standard” Liquid Gloss “Standard” Household Lubricant vou may he sure of ity wniformity and Nigh qualiev.