Evening Star Newspaper, November 9, 1928, Page 16

15 FISH SALES GROW ATID.C MARKET & Dealers Ascribe Increase to Cooler-Weather—Poultry Receipts Greater. Cooler weather this morning was ap- preciated by dealers in marine products. It not only had the effect of making the fish appear to the best advantage, but it also had the effect of increasing de- mand. Demand for oysters showed an appreciable increase. There was the usual increased Friday morning demand for most foodstuffs, retailers getting supplies for their Fri- day morning trade. Business was not particularly brisk, however, but dealers hope for better business when persons who went away to participate in the election return. Increased receipts of poultry, includ- ing a few turkeys, was reported this morning, and dealers in fruits, vege- table, butter, eggs and meats had at- tractive offerings for the retail trade this morning. Local dealers had fairly large quanti- ties of rabbits from distant States, some not in the best condition, and prices de- | pended entirely upon quality. Today's Wholesale Prices. Butter—One-pound prints, 51a52; tub, 50a51; store packed, 30a3: Eggs—Fresh, selected, 48a50; hennery, §3a55; current receipts, 46a47; storage, 33a35. Poultry, alive—Turkeys, 40ad5; Spring chickens, 30a32; Leghorns, 27a28; fowls, 27a28; roosters, 19a20; keats, young, 60a 80; old, 30. Dressed—Turkeys, 45a50; Spring chickens, 38a40; Leghorns, 37a 38; capons, large, 42a45: small, 30a35; ducks, 30a32; keats, young, 80a1.00. Meats, fresh killed—Beef, 18a27; veal, 92a27; lamb, 20a25; pork loins, 26227; fresh lambs, 22a23; fresh shoulders, 18a 20; smoked hams, 25a: smoked shoulders, 21a22; bacon, lard, aldls. Live stock—Calves, 15a16; lamb_, 2 Fruit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market News Service, Bureau of Agricultural Economics) says: Apples — Supplies ~ liberal; demand 1light, market steady. Boxes, Washing- ton, medium to large size, extra fancy Jonathans, 2.25a2.50; extra fancy De- licious, 3.00a3.50; muostly 3.25; Stay- mans, 2.50a2.75; mostly 2.50. Bushel baskets: Maryland, ~ Virginia and Pennsylvania, U. 8, No. 1, 25 inches up, Grimes, 1.25a1.50; mostly 1.40; U. S. No. 1, Staymans, 2% inches up, 1.25a1.50; 234 inches up, 1.40a1.65. ‘Cabbage — Supplies moderate; _de- mand light, market steady; New York and Pennsylvania, 90-100-pound sacks, Danish type, mostly 1.75; few low as 1.50. Celery — Supplies moderate; demand light, market steady; New York, 2-3 crates, 2.50a3.00; mostly 2.75; few fancy, 3.25; California, crates, 5.00a 5.25; few fancy high as 6.00. Lettuce—Supplies moderate; demand 14 TAILORED AT FASHION:PARK Par-Kerry overcoats meet the most exacting requirements thru the medium of fine needle work and perfect fit... Quality woolens in colors and patterns that reflect careful THE EVENING STAR, WASHINGTON, 0.6 moderate, market about steady; Cali- fornia, crates, iceberg type, 4-5-dozen, 4.50a4.75; few low as 4.25, ‘Onions—Supplies light; demand light. market firm; Michigan, Ohio and New York, 100-pound sacks, yellows, U. S., No. 1, 4.00a4.25; few higher; Ohio, 100- nd sacks, White Globes, U. 8. No. 1, 4.00a4.25. Potatoes—Supplies moderate; demand moderate, market steady; Pennsylvania, 150-pound sack, round whites, U. 8., | No. 1, 1.85a2.00; few higher; New York, . 1, 2.00a2.2 bakers, 60-7 | Sweet potatoes — Supplies moderate; demand_light, market steady: East Shore Virginia, cloth-top barrels, yel- |lows, No. 1, 2.65a2.75; East Shore Maryland, bushel hampers, yellows, No 1, 1.25; North Carolina, cloth-top bar- | rels, yellows, No. 1, 2.25a2.50. | | Cucumbers—Supplies very light: de- mand light, market dull; Florida, square | bushel crates, No. 1, 4.50. | Squash—Supplies very light; demand light, market steady; Florida, pepper | crates, white, wrapped, 4.50a5.00. String beans—Supplies light; demand light, market dull; South Carolina, bushel hampers, green, fair to_ordinary quality, 3.50a4.50; Florida, 7s-bushel hampers, green stringless, 5.50; black Valentines, 3.50. Eggplant-—No supplies on market. Peppers—Trucked-in_stock supplying | | market. No Florida receipts. | Caulifiower—Supplies moderate; de- | mand moderate, market steady; New York, Long Island crates, 250a2.75; mostly 2.50; some ordinary condition | low as 1.95: Oregon, pony crates, some | | fair condition, 1.50a2.00. Carrots—Supplies light; demand light, market steady; California, Western let- tuce crates, bunched, 3.00a3.50; mostly 3.25. Tomatoes—Supplies - light; _demand light, market slightly weaker: California, lugs, ripes, wrapped, medium to large | size, 3.50; small size, 3.10a3.25. Oranges—Supplies moderate; demand | moderate, market about steady; Florida, | | boxes, seedlings and Parson Browns, medium to large size, 4.75; navels, few | sales, medium to large size, 6.00. | Grapefruit—Supplies mods | mand moderate, market stead | a4.25; mostly 4.00; No. 2, 3.25. Lemons—Supplies light; demand light, market dul California, box No. 1, medium_size, 6.50; fair qu X 450a5.00; small size, some decayed, | 3.25a3.50. Grapes—Supplies moderate; demand moderate, market steady; California, [ lugs, Flame Tokays, mostly around 1.50; | Missions, 1.15a1.25. Plans Steel Pipe Purchase. NEW YORK, November 9 (#).— Western Natural Gas Co. expects to be in the market shortly for 350 miles of 20-inch steel pipe. Youngstown Steel sheet mills operations continue at a high rate this month, with price ad- vances, which applied at the begin- ning of the quarter, holding. STEEL PRICE INCBIEASED‘ YOUNGSTOWN, Ohio, November 9 {#).—The Youngstown Sheet and Tube Co. today announced a price increase of $1 on sheet bars and semi-finished steel, GAIN N INSURANGE TOTAL PREDICTED Writing of Policies Expected to Keep Pace With Busi- - ness Increase. BY J. C. ROYLE, Special Dispatch to The Star. NEW YORK, November 9.—It now looks as if the volume of insurance written this year would be fully 10 per cent higher than the policies writ- ten m 1927. Insurance men attributed this in part to the fact that business is good and business men and workers are anxious to make provision for the future of ‘their dependents while con- ditions are favorable. One company alone has more than $6,570,000,000 in force and will pay out something like $150,000,000 by the end of the year. The big increase has come in group insurance and it now is esti- mated by insurance statisticians that 48,000 workers will receive mor: th the average wage or salary for the year by the end of 1928. There are now 7,000,000 of the 47,000,000 workers in the country covered by group insurance. Reflect Business Conditions. osperous business conditions. I trial and commercial activity suffc undoubtedly as a result of the slackei- ing for election day. This will make the business for the week smaller than usual, but the recovery has been such that the daily rate now is back where it was before last Tuesday. The steel mills are doing splendidly with a fine agricultural implement, oil, goods and automobile sheet demand, The automobile industry is in the - | throes of producing new models, but the 12| 01dmodels are still passing | hands of buyers in satisfactory num- inw the bers. The oil industry is commencing to reflect the huge consumption for which the automobile and aviation in- dustries are responsible and as a con- sequence there seems likely to be a good volume of exploration work in the Southwest. this Winter. The real feature of the commodity world is the strong position which copper continues to occupy. An ex- tremely fair tonnage of the metal al- ready has been sold at current prices for January and February delivery. The foreign market has not been so active, owing to political conditions in several countries. Zinc has shown improvement in sales and paint and battery manu- facturers have been in the market for lead. It is estimated the-electrification program of the Pennsylvania Railroad will require 55,000,000 pounds of copper. Building materials in some sections are a trifle higher than a year ago. Lumber cut is slightly higher than new business in the soft. wood -mills, but unfilled orders still are high. The operations of the electric light and power concerns are on a high level. This is proving of benefit to some of f. 0. b. Youngstown and Chicago, effec- tive at once. The new prices are $34 a ton Youngstown and $36 Chicago. the paper companies, which through water-power holdings are really public PAR-KERRY selection .. . tailored at Fashion Park. 50 | tion boosted radio sales and now the | cents, ‘These figures reflect the generally’ country | utilities to a certain extent. The paper industry is suffering badly from excess of mill capacity. Electrical Equipment Sales. Electrical equipment sales have been high and this will be reflected in retail dealings in the next six weeks. Despite the huge sales of electric refrigerators, the producers of manufactured and natural ice in most districts are finding a better market than ever before at this season of the year. 5 ‘The flour milling concerns are work- ing at a high rate of production and profits so far during the present milling season have been satisfactory, at least for many of the corporations. The elec- foot ball games and the Christmas trade are doing their bit toward making it a record radio year. The trade in industrial chemicals is strong, reflecting the activity in the industries which are the chemical trade's best customers. Commodity Notes Hides. CHICAGO, November 9.—Prices are strong for packers’ hides. Extremely light native steers have moved at 20 an advance of 12 cent, and 19 is reported to have been paid for | light native cow selections. The coun- try market is firm: Chemicals. ATLANTA.—Optimistic attitudes are expected of the delegates who will con- vene here November 13 for the meeting of the National Fertilizer Association, ! although business in the South in the last year has been spotty. Tobacco. YORK, Pa.— Shipments of cigars from this district reached the highest point ever known in the last month. Fruit. SACRAMENTO, Calif. — Prices for grapes in California have been unsatis- factory in the season just closing. They averaged $30 a ton or less, owing to the heavy “juice” carry-over from the previous year. Profits have been slim, and in some cases non-existent. Turkeys. BALTIMORE.—Turkey raisers of the upper Eastern Shore of Maryland are discussing the possibility of a turkey pool to help them get better prices for their. holiday birds. The turkey crop is far heavier than that of last year. Banks May Consolidate. NEW YORK, November 9 (P).— Tentative steps have been taken toward consolidation _ of the first national banking group of Chicago, which in- cludes First Trust & Savings Bank with Union Trust Co. of Chicago, it was reported. . Stock Split-up Planned. NEW YORK, November 9 (#).— Bellanca Aircraft Corporation of New Castle, Del., stockholders are to vote, November 20, on the proposed 3-for-1 split-up of common stock and retire- ment of the preferred. Additional com- l?un will be issued to finance expan- sion. MONEY RATE DROP IS HELD TEMPORARY Withdrawal of Funds for Business Financing May Cause Call Market Rise. Speclal Dispatch to The Star. NEW YORK, November 9.—The abrupt change in the call money sit- uation this week, the’ rate dropping down to 6 per cent for renewals with outside loans at 52 per cent, in com- parison with the continuous rate of 71 per cent in the latter part of October and during the first part of November, was looked upon by bankers as a tem- porary ease rather than a permanent one. While the bankers do not expect to see a return of the high rates for call money exacted of borrowers during the Summer and in part of the early Au- tumn season, they anticipate conditions that may result in flurries from time to ;lé:;‘ b:-':_zeen n(lilvl«' :nd the turn of the A ese Wi lepend very largel! on the degree to which st()c;yspegglfls-, tion is maintained, for so long as market activity is represented in daily | sessions of between 4,000,000 and 5,000, 000 shares it is maintained that there can be no definite change in the credit situation, The attitude of lenders other than those of banks to a money market that does not produce better than a 6 per cent rate, is one of the unknown quan- FRIDAY, NOVEMBER 9, ,1928.° of brokers’ loans. These have increased $706,000,000 in the past 10 weeks. The feeling is that should call money remain for a week, say, at the legal rate, tend- ers would begin to withdraw funds and place them in various long term com- mitments, such as bonds and in the normal channels of business. It is only when there is a margin over 6 per cent in the call money market that the new lenders begin to withdraw their funds ations and institutions direct their sur- plus funds to New York. The point is made that with business | now having had six months of intense activity and only a moderate amount of new financing in this period it will soon be necessary to draw down funds out on | call and employ them in a way to pro- | duce facilities for the further period of orosperity anticipated as a result of Mr. Hoover's election. Obviously, when the corporations and other outside lenders draw their funds out of the market it will be necessary for the banks to as- sume a large share of the lending than they have been doing in recent months, This, in itself, will tend to keep money rates firm. ‘There are indications that the gold import movement may reach larger pro- portions than those anticipated some weeks ago. The original maximum sug- gested was $50,000,000. Now estimates of the possible gold import have been raised to $75,000,000. For the first {ime in months the Banlk of France yester- day showed a decrease in its gold hold- ings. England made a slight gain in this item. ‘The Pacific Coasgt States led all other groups in regiona® consumption of fuel oil during 1927, says the Bureau of ‘Htit‘s and upon it will depend the course Beautiful Both Nationlly Advertised ) ¢ p ¢ ) { N { y ¢ ) { ) ¢ \\\\JgZSc a Week Mines. p from banks and when foreign corpor- | On the other hand the Bank of | g | | PRODUCE MARKET SALES REPORTS ARE ISSUED Nothing much ¥8s happened in the general potato market so far this month. Sales hold near $1 per 100 pounds in Western New York producing sections, with trade dull owing to_light demand and low prices, says the Bureau of Ag- ricultural Economics, Department of Agriculture. There is little change in the situation, East or West. Shipments are somewhat lighter with the finish of the harvest season, running near 700 cars per day. Onion markets show suppressed strength, with occaslonal upward tend- ency of prices. Supplies are light in some markets, with a wide range of quality and condition, but mostly sell- ing around $2.50 to $4.25, with some tops of fancy yellow and white onions up to $4.75. ‘Cabbage prices have been going down steadily for weeks, but have a more set- tled appearance now that prices are practically the same at representative Eastern and Midwestern shipping points, where most of the long-keeping stock is located. It sells at $22 to $24 per ton in Western New York and in Wisconsin and brings $25 to $35 in the large con- suming markets, Carrots have had quite a setback the past four weeks, declining in leading New York producing sections from $1.75 per bushel to about $1.40. Most of the market celery in this section is from New York and Michi- an. Prices of the best lots are firm, selling in producing sections at $2 to $2.35, some high as $2.50 per crate. Apple markets act a little stronger, with scattering gains in price rather than any general advance. Apple prices continue mostly un- changed in producing erable quantities have from tes s sections. Consid- been_disposed of . Demand lo; limited in producing sections o to rfh prices and the fact that lower- priced miscellaneous varieties are avail- able for the present. Many carloads of mixed fruits and vegetables, including a) Ples, of special varieties have been shipped from the North to Southern consuming centers. New York Baldwins hold firmly at $1 per bushel basket in producing sections. They were selling at $1.50 to $1.65 in Cleveland. Barrels range $4.50 to $5 in Chiago. New York Greenings range $1.50 to $2 per basket for good - stock .in consuming markets and $5 to $650 per barrel. Yorks and Staymans have a general range in city markets of $4 to $5 per barrel. Occasional sales of Vermont McIntosh touched $11 in New York. Keeping quality of Northern apples is expected to be good owing to favorable conditions during harvest. = Eastern growers seem to have sold most of their stock. Storage holdings in Western New York are locally estimated probably 15 to 20 per cent greater than last season. Tendency of sweet potatoes has been upward this month. with gains of about 10 per cent in various classes in some markets. Viginia barreled stock still sold at $1.75 to $3.50 and New Jersey yellow stock sold as low as $1 per bushel in New York City and up to $2.50 in Chicago. Pig Iron Production. NEW YORK, November 9 (A)— Pig iron production in October averaged 108,832 tons daily, the highest figure since May. 1927. This compared to 102,077 tons daily in September and 89,810 tons daily in October, 1927. 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