Evening Star Newspaper, November 23, 1928, Page 13

ING STAR, WASHINGTON, D. U, FRIDAY, NOVEMBER 23, 1928. " INGREASED RETAL BUSINESS IS SHOWN Approach of Holiday Season Brings Gain In Shops and Stores. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, November 23 —This is | the heyday of activity for the white- collared worker. This fact has done much. to compensate for the regular expected slowing down of “flannel- shirt” employment, which is sure to come around the holiday season. The white-collared man does not make as much as the flannel shirter, but he spends as much at this season, and the retail trade of the Nation is bursting into full bloom in consequence. The annual slump of industrial em- ployment has been less than anticipated, for while hourly wages are steady and show little if any improvement in most | sections, the number of hours worked has increased so that weekly pay checks are averaging 40 cents to $1 more than in the same period of last year. The steel mills, which absorb many of the itinerant workers, are still at a high pitch of production. The auto- mobile pay rolls, which have slumped with the exception of the second largest manufacturer, who is not putting out new models, have started upward again and by the middle of December the new models, the new sixes, eights and twelves, and the eye-appeal models will be taking all the skilled men avail- able in the automobile centers. The automobile accessory plants are all at full production, except possibly the tire plants, which depend not only on new equipment demand, which is active, but on replacement demand, which is not. ‘The building trades are finding their members well employed, but most of the latter are winding up their sea- sonal work in the North and counting on journeys southward to take advan- tage of any Winter activity. The Southern building in some States prom- ises, however, to show a falling off this year, although Cuba will be a new and prolific field of endeavor. ‘The anthracite mines are fully oc- cupied, but mine owners are finding it difficult to keep men steadily at work. The same difficulty exists in the active soft coal fields, although the miners have been out of employment for months and need the money. The elec- trical equipment plants are busily en- gaged and obviously are going to have some difficulty in meeting demand for household equipment in the holiday trade. ‘The railroads are benefiting might- ly through the volume of shipments going forward to the retail trade. This has been better distributed this year than ‘ever before and has kept loadings at a high rate for some weeks. ‘The wholesale dealers are 1ejoicing R ported to average between 10 and 11 per cent higher than a year ago. The extent of the retail traffic is being re- flected by the cotton manufacturers, the Kraft Paper Manufacturers and the box makers, All have announced ex- traordinary sales. - The oil industry is showing improve- ment and this is being reflected in sales | volume in the steel and pipe manufac- turing districts. CHICAGO LIVE STOCK MARKET CHICAGO, November 23 () (United States Department of Agriculture—Hogs —Receipts, 27,000 head; rket most 10 cents lower than Thursday’s 3 top, 8.60 paid freely for choice 190-280 pounds. Butchers, medium to _choice 250-300 pounds, 8.25a8.60; 200-250 pounds, 8.35a8.60; 160-200 pounds, 8.00 | 8.60; 130-160 pounds, 7.2528.40. Pack- ing . so 7.50a8.10; p! medium to choice, 90-130 pounds, 6.758° Cattle—Receipts, 3,000 head; calves. 500 head; largely a clean-up market; buyers showing a little more interest, but demand generally still narrow, stale offerings predominating; most steers selling at 13.00 down to 10.50; the gen- eral market badly in need of small re- | ceipts next wee! Slaughter classes: Steers, good and choice, 1,300 to 1,500 pounds, 12.75a17.25; 1,100 to 1,300 pounds, 12.50a17.00; 950 to 1,100 pounds, 12.50a17.25; common to medium, 850 | pounds up, 8.50a12.50. Fed yearlings, good and choice, 750 to 950 pounds, 12.25a16.50. Heifers, good and choice, 850 pounds down, 11.25a14.75; common and medium, 7.50a11.25. Cows, good and choice, 8.25a11.00; common and medium, 6.90a8.2: ow cutter and cut- ter, 5.50a6.90. Bulls, good and choice (beef), 9.50a11.25; cutter to medium, 7.00a9.40. Vealers (milk-fed), good and choice, 12.00a15.00; medium, 11.00a 12.0 cuill and common, 7.50a11.00. Stocker and feeder steers, good and choice (all weights), 10.50a11.75; com= mon and medium, 8.50210.7: Sheep—Receipts, 10,000 head; market | fairly active, fat lambs unevenly steady to higher; bulk under light sort, 13.00a13.25; sheep and feeding lambs, scarce, steady. Lambs, good and choice, 92 peunds down, 12.50a13.50; medium, 11.75212.50; cull and common, 8.25a medium_to choice, 150 4.50a6.75; cull and com= Hupp Expansion Reported. NEW YORK, November 23 (#)—In- terests closely affiliated with the Hupp Motor Car Corporation of Detroit were understood in Wall Street today to have bought in the open market a con- trolling stock interest in Chandler- Cleveland Motors Corporation of Cleve- land. Negotiations are reported under way with large minority Chandler stockhold- ers for their holdings, in connection with a plan of Hupp interests for ab- sorption of Chandler. There are out- standing 350,000 shares of Chandler- Cleveland preferred :stock and 280,000 common stock. Both have no par value and carry voting privileges. CHICAGO DAIRAY MARKET. CHICAGO, November 23 (#).—But~ ter, unchanged; receipts, 5,557 tubs. Egegs, unchanged; receipts, 1,828 cases. in the best season they have had for years. Their volume of sales is re- Poultry—Alive, steady; receipts, 4 cars; prices unchanged. THF Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., November 23.— Potatoes, white, 100 pounds, 80a90; reds, 75a85; sweet potatoes, barrel, 1.25a 200; bushel. 50al1.15; yams, barrel, 1.50a3.00; beans, bushel, 3.0085.00; beets, 100, 4.00a5.00; broccoli, bushel, 60a70; brussels sprouts, quatt, 10a20; cabbage, ton, 25.00a35.00; carrots, 100, 4.0085.00; caulifiower, crate, 1.25a2.25; celery, crate. 1.50a3.00; kale, bushel, 50a60; onions, 100 pounds, 1.25a4.00; oyster plant, 100, 6.00a7.00; peppers, crate, 3.00a7.00; parsnips, basket, 50a 60: pumpkins, 100, 10.00230.00; spin- ach, bushel, 35a75; savoy cabbage, bushel, 75a1.00; tomatoes, crate, 3.00a 4.50; turnips, basket, 15a25. Apples, bushel, 75a2.00; cranberries, box, 3.00a4.00; grapes, basket. 40a50; grapefruit, box, 2.50a4.00; oranges, box, 2.50a4.50; pears, bushel, 1.25a3.00; kief- fer pears, basket, 20a35. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, garlicky, spot, 1.33%; November delivery, 1.33%. C 0. 2, export, December deliv- ; No. 2, domestic, yellow, 1.04a 1.05; cob corn, 4.50a4.75. Oats—No. 2, white, domestic, spot, 56; No. 3, white, domestic, spot, 55. Rye—Nearby, 1.10a1.20. Hay—Receipts, 48 tons. While hay is arriving here in limited quantities only, it is more than ample for the demand, which is being supplied mostly by truck from nearby points, few carloads being received, There is not enough business passing to establish prices on the vari- ous kinds and grades, and all arrivals sell strictly on merit at a range of 16.00a18.50 per ton for timothy and clover hay. Straw—No. 1 wheat, 11.00a12.00 per ton; No. 1 oat, 12.00a13.00 per ton. Dairy Market. Poultry—Alive—Young turkeys, pound, 40a13; old, 35a38; Spring chickens, 20a 27; Leghorns, 20a25; old hens, 20a27; Leghorns, 18a20; small and poor, 18; old roosters, 18a20; ducks, 22a25; small, Bglnea fowl, each, Eggs—Receipts, 1,004 cases; native and nearby selected white, free cases, dozen, 52; firsts, 47a48; current receipts, 45a46. Butter—Good to fancy creamery, pound, 46a52; prints, 52a54; blocks, 50a 52; ladles, 37a38; store packed, 34a35; process butter, 43a44. SATURDAY CLOSINGS PROPOSE NEW YORK, November 23 (#).— Members of the New York Coffee and Sugar Exchange have been asked to ballot on three proposals for Saturday closings. One plan calls for closing on Saturdays from June fo Sepiem- ber, a second for closing Saturdays from May to October and the third for clos- ing every Saturday in the year. Slnfimc Output. NEW YORK, November 23 (#).—Out- put of slab zine by countries which fur- nish about 97 per cent of the world's total amounted to 126,644 shorts tons in October, against 121,248 tons in Sep- tember and 121,176 tons in October, 1927, according to the American Bureau FCHT of Metal Statistics. F St. at 7th The gingham dog and the Doll Duchess and the jumping jack. calico cat . . . the The train that runs up hill and then right down . . . and the mechanical man who turns round and round. The flying airship and the giggling bear . « « and the jolly old man without any hair. Merry and shouting for all to see . . . and in the midst of them all, Santa, just as gay as can be. Santa has a gift for every boy and girl who visits him Saturday Third Floor | | WHEAT IS LOWER IN EARLY DEALINGS Bearish Estimates on Argentina Crop Force Prices Down. By the Assoclated Press. CHICAGO, November 23.—Bearish estimates of 1928 wheat production in Argentina tended to make wheat prices here average a little lower early today. In the corn market favorable weather gave some advantage also to the selling side. Opening at 15 decline to % ad- vance, wheat afterward held near to the initial range. Corn started 1% to 3a% off and showed but scant power to rally. Oats was steady. Provisions went lower. ‘According to a widely known British authority, the Argentine surplus wheat yield this season will aggregate prob- ably 220,500,000 bushels, against 185,- 000,000 bushels actually cleared so far this season. In this connection was significance attached in some quarters to the fact that Liverpool wheat quo- tations today were lower than due, not- withstanding advices that Southern Argentine crops are suffering because much in need of rain. The deficiency in mositure, it was reported today, has now continued for 10 weeks. On the other hand, some European buying of wheat future deliveries in Chicago was apparent at times today. There were also reports of good demand for domestic No. 2 hard Winter wheat at the Eastern seaboard, and Minne- apolis sent word that mills today were on the buying side of wheat futures. ‘Western Maryland Revenues. BALTIMORE, November 23 (Special). —Net income of the Western Maryland Railway Co. for October showed an in- crease over that of the same month last year, despite a slight decrease in gross. This is the first time in 1928 that the carrier has shown an increase in net. Operating ratio for October was 64.13, against 65.46 a year ago. Operating revenues totaled $1,795,926 in October, as compared to $1,803,013 a year ago, while net income was $392,- 391, against $346,370 in the same month of 1927. For the ten months operating rev- enues aggregated $15,494515, as com- pared to $18,509,240 in the correspond- ing period last year. Net income for the period totaled $1,968,516, against $2,654,427 in 1927. Auto Parts Trade Gains. NEW YORK, November 23 (#).—Au- tomotive parts and accessory business is enjoying the greatest fourth quarter in history, and will close the year with new high records in production and sales, Motor and Accessory Manufac- turers’ Association reports. Shipments to car and truck makers and the whole- sale trade by association members in October were 188 per cent of the Jan- uary, 1925, figure, compared with 202 per cent in September, 212 per cent in August and 129 per cent in October a year ago. Co. WS ({1 - "y‘"',\\“ Cotton. ATLANTA, November 23.—The first freeze of the year did not hurt the cotton crop, since it was already picked. Northern Florida truck growers, how- ever, suffered losses. Fruit. ‘WALKERSVILLE, Ontario—As part of a plan to encourage agriculture in Ontario, James Cooper, Walkersville mil- lionaire, will plant 1,000 acres to grapes on reclaimed marsh lands in the prov- ince in 1929. The lands are situated on St. Anns Island. Live Stock. CHICAGO.—The present ‘slump in the prices of medium and low grade cattle, it is believed, will be of only temporary duration. Supplies for the lower-grade animals have exceeded the demand, but prime beeves still bring firm prices. Coal. PHILADELPHIA.—The proposed new breaker of the Philadelphia & Reading Coal & Iron Co., at Locust Summit, Pa., has been started. It will be the largest breaker in the State. The placing of the breaker at Locust Summit will mean heavy rallroad construction in that section. Paper. MONTREAL.—The problem of over- production in the Canadian paper mills is still far from solution. Price com- petition is in progress, and pressure is being brought to bear to keep pulp produciion up. Some firms, however, are recouping losses on paper by profits on power. MARYLANDERS TO PUSH RAIL TRUNK LINE PLAN Speclal Dispatch to The Star. BALTIMORE, November 23.—Recent developments toward railroad consolida- tions and the prospect that Baltimore may be made the terminus of another through trunk line system will be con- sidered at a meeting of the .railroad consolidation committee of the Balti- more Association of Commerce early next month. At the same time the Business Pro- tective Association, composed of a group of business men in Baltimore and others who live along the line of the Western Maryland Railway in Mary- land, Pennsylvania and West Virginia, are keenly interested. This body deems the creation of another through trunk line system essential to the development of the port of Baltimore. According to A. E. Beck, attorney for the Business Protective Association, the creation of such a line based on the Western Maryland, Pittsburgh & West Virginia and the Wheeling & Lake Erie would materially increase the serv- ice in merchandise traffic between Balti- more and the West and have a tend- ency to divert to Baltimore part of the ex-Lake grain which is now shipped through Montreal. ‘There also is talk that if the new trunk line is formed it may acquire the Washington, Baltimore & Annapolis Electric Railroad, thus giving it an en- trance into Washington. The Washing- ton, Baltimore & Annapolis has ac- quired rights of way for an extension to the Curtis Bay industrial district, and it is believed that this move is in the interest of the prospective buyer of the railroad. Congress of Colombia is considering anti-alcoholism legislation. The “Bridal Pair” Both for 388_99_ A beautiful diamond engagement ring set with side stones, and a 3-stone diamond white gold wedding band to match. Pay $1.50 a Week Starting Jan. 1st, 1929 VIRGINIA BANK MEETING. 200 Delegates Expected to Attend Richmond Parley. RICHMOND, Va., November 23 (). —Arrangements have been completed for the twenty-second annual meeting of Group 2 of the Virginia Bankers’ Association, which convenes here Sat- urday for a one-day session with ap- proximately 200 delegates expected. D. W. Durrett, vice president of the American National Bank of Richmond and chairman of the Virginia Bankers’ Association committee on bank costs, will speak at the morning session on “Bank Costs.” W. S. Irby of Kenbridge, Va., secre- | tary of the association, will lead an open forum discussion on “County Or- ganizations.” The annual banquet will be held dur- ing the evening. Speakers will include E. S. Shields, president of the Planters’ Bank & Trust Co. of Farmville and president of the Virginia Bankers’ Asso- ciation, and Harry M. Smith, jr., Rich- mond attorney. PARIS BOURSE PRICES. PARIS, November 23 () —Prices im- proved on the Bourse today. Three per | cent rentes, 65 francs; 5 per cent loan, 92 francs 30 centimes. Exchange on London, 124 francs 1115 centimes. The dollar was quoted at 25 francs 59%; centimes. - Construction Projects. NEW YORK, November 23 (4).—Con- templated construction projects an- nounced so far this Fall involve ex- penditure of larger sums than in the corresponding period last year, with ac- tivity well scattered. Select 13 COTTON IS STEADY ON INITIAL TRADES Market Shows Advance on Broad- ening of Speculative Buy- ing Orders. o o b o - By the Associated Press. NEW YORK, November 23.—The cot- ton market opened steady at an ad- vance of 8 to 16 points and sold 10 to 20 points net higher during the first? few minutes on a further broadening * of trade and speculative demand. Houses with continental, Liverpool and Japanese connections were said to be among the early buyers, but the ad- vance to 20.50 for December and 20.40 for March met considerable Southern. selling and a good deal of realizing.+ This proved sufficient to supply the. early demand and caused reactions of- 5 to 15 points, but the offerings were well enough absorbed to give the mar-s ket a steady undertone and radin continued active at the end of the first, half hour. - Private cables said there had been trade calling and continental buying inx Liverpool and that sentiment in Man-- chester was more optimistic, owing to., an increased demand for cotton cloths.. from India. STEEL OPERATIONS. NEW YORK, November 23 (#)—' Youngstown district steel operations are.. |at 80 per cent of capacity, with some | additional moderation in view before I'the end of the year. 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