Evening Star Newspaper, January 11, 1929, Page 13

FINANCIAL. THE EVENING STAR. WASHINGTON, D. C., FRIDAY, ANUARY 11, 19297 FINANCIATL.? * UTILITIES INVAN OF RISE ON CURB News of Big Power Merger Causes Gains in Several Issues. BY WILLIAM F. HEFFERNAN. Bpecial Dispateh to The Star. NEW YORK, January 11.—Specula- tive attention in today's curb market roceedings was focused upon the pub- je utility issues involved in the con- solidation plans of prominent banking interests. 3 - The plan calls for formation of a gi- gantic organization to be known as the United Corporation, Its prime motive will be to acquire minority stock in- terests in such companies as United Gas Improvement, Public Service Cor- poration_of New Jersey and Mohawk Hudson Power, now held by the organ- izers of the American Sugar Power Cor- poration. United Gas Improvement went into new high ground above 174'2, Mohawk & Hudson crossed 70 to its best and Buffalo, Niaraga & Eastern moved up several points to T1. Other public utilities which will even- tually be affected by formation of the new holding company were Sympa- thetically influenced. Associated Gas & Electric rose 7 points to a new hi at 60, Electric Investors gained ¢ points to 90 and Electric Bond & S S curities above 188 was almost 8 D higher. | Aside from the excited speculation in | the utility group, interest centered in the trading in a number of new secur- ities admitted today. Among the new- comers was 50,000 convertible preferred shares of Northam Warren Corporation offered for public subscription at $42.50 ®n share. The initial sale took place at & premium of 2 points indicating the successful financing of the e. other was Burma Corporation, y depository receipts. The opening sale | 4nvolved a block of 10,000 shares at 5's American Beverage Corporation w another, the market ranging from 157 to 15%. Grigsby-Grunow rights to sub- scribe to additional stock under the plan {;cxgnuy announced opened initially at 5. Airplane issues were among the specu- lative favorites. Sales in Universal | Aviation Corporation in the first half session alone totaled approximately 7,000 shares making one of the most active two-hour trading periods since the stock | was listed. | Aviation Corporation of America and North American Aviation both went into | new high ground while E. W. Bliss and | Niles-Bement-Pond were more than 3| points higher. | ‘The Marconi issues became increas- | ingly active with Marconi International | selling at a new high. Gulf Oil of Pennsylvania featured its | up, selling at a new high up ove ve points. Plymouth Oil responded moderately to the declaration of another 50 cents cash dividend, thereby plac- ing it on an attractive yield basis at | current prices. New high records also were establish- | ed in Penny & Co. Rerlty Associates of Brooklyn, Thompson Products class “A” Libbey-Owens Sheet & Glass, Hart-Parr, Gold Seal Electric, Lake uperior Corporation and several others, | gains ranging from 1 to 16 points. WHEAT PRICES DROP IN EARLY TRADING Bearish Liverpool Quotations Cause Decline in Chicago Pit. | By the Associated Press. { CHICAGO, January 11.—Wheat and corn both underwent early downturns | in price today, with wheat influenccd} largely by the fact that Liverpool quo- tations continued unresponsive to ad- | vances here. Better weather for corn | movement was & bear factor as to corn. Opening 33 to % off, Chicago wheat prices afterward held near to the ini- tial range. Corn started % to 73 down and later showed but slight power to rally. Oats were easy. Provisions held about steady. Persistent failure of the Liverpool wheat market to reflect upturns in NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office Following is a list of stocks and bonds traded in on the New York Curb Market today: Sales in hadreds m Cyanamid B 29 Am Cyanamid rts 19 Amer Dept_Stores. 14 Amer Gas & El §Amer Rayon Br Roil Mill Sol & Che § & G p pid States Sec A... Stat Sec A ris! Superp B & Gas & El war it & Sug o Reg Mach wi o Reg Mch con wi to, C Can Marcon| € G Spring Check Cab "Mt 50299097 4G 19 Granite City St Happin C St'A Hart Parr 14 Lit 110 A1 13 fonte Tts 7 Moody Iny Serv P pid 52 & Munieipal 4 Noma 163 North Amn_Aviation. 1 5 North Am Utility Sec 1 120 North Eastern Pow.. 35 4 Noxtham War pfd 2Nor Sta P A.. c 6 Pitney Bowes P 13 Pratt & Lamb 4 Prop Silk Hos Mil 14 Pyrene Mfg .. 53 Radio Corp n'B pf 5 Rainbow Luminous. 7Roch Cen Pow .. 55t Regis Paper Ite Un Se-s1 1 wie .. 25 Southeast P & L 7 Southe P 8 South_Ashestos .. 7 Southw Dairy P 17 Spanish & Gen rc 4 Spencer Kellogg 11 Stahl Mever 0 Stand Mot . 4 Stand Pow & Lit.. 3} tutz Mot . Syra W Mac 9 Taggert Corp 4 West Auto St 4 Westvaco Chlor. . 25 Whitenight Inc. 3 Williams (R.C.) & 9 Woodworth T 2 Worth Inc A. 5 Zonite rice on this side of the Atlantic served | Sales in y to give a decided advantage at times to the selling side of the wheat market here. Puthermore, profit taking on the part of recent buyers of wheat future deliveries was much in evidence end overnight export busniess in wheat from North America was lacking in volume. There were intimations also _that Argentina was offering wheat m freely to Europe at lower quota- Predictions of cold wave tended to romote selling in the corn market ay, as being likely to bring about larger receipts. On the other hand, there were estimates current from British sources that 20,000,000 bushels more corn from the United States will be required by Europe before the ar- rival of mew corn from Argentina. Meanwhile, moisture needed for corn growth in Argentina again was re- ported as below normal. COTTON IS STEADY IN OPENING SALES Declines in Liverpool Are Followed by Early Selling at Chicago. By the Associated Press NEW YORK, January 11.—The cotton market opcned steady at a de- | S with the active | cline of 7 to 13 point months selling 11 to 14 Points net lower during the first few minutes, under fairly general selling inspired by late declines in Liverpool and reports that one of the trade authorities estimated domestic consumption for December at 532,000 bales, compared with 611,000 in November. s consumption for De- cember, however, Wi d to average 2bout the same per working day as in November. Alter selling off to 19.29 for March, the market rallied to 20.06 for nat pasition by the end of the first hour, when the market was about net unchanged to 4 points k rivi cables said that tra tinental buying had_ absorbes erings | in the Liverpool market and that reports Teaching Manchester from China were | more encouraging as to pending busi- | Sales in hundreds in units. 300 Angl 1300 Contl hundreds. 4 Noranda ... 23 Ohio Con’. 7Roan Anteiop 7 Shattuck Denn. 12Uni Verde Ext. 9 Wendon Cop... 37Am Con Olfids . 20 Am Maracaibo C 14 Barnsd_del war 1§ Canib Synd 20 Cities 23 Cuties Tt 6 Crecle Pet 10 Venezuelan Pet " Sales STANDARD OIL_ IS MER SUBSIDIA] o Am Oll.. Oil.. 5 Alum_ Ltd 50 Am Gas & Roll 5 5] 47, s & El 4128 Ww S Fel.... 11tk INDUSTRIALS. High, od INDEPENDENT OIL 1200 lbs, 8.90a9.25; 6s A 101 (s Pow 2 Wheel Stl 41:s B | sales in FOREIGN BONDS. thousands 1'Agri Mor Ba 7s "46.. Special Dispatch to The Star. BALTIMORE, Md. January tatoes—White, 100 pounds, 1.1 aloes, barrel. 1 i 4 k broccoli, sels sprouts, quart, hamper, 2.25a2.75; carrots, 100, 4.00a 6.00; celery, c 23.50: cauliflow= er, crate, 1. 6.00a9.00; kale, bus a’ hamper, 1.50a2.50; onions, 100 pound 1.50024.25; oysterplants, parsnips, basket, 50875 3.00a4.50; peppers, crate, 5.0028.00; spinach, bushel, 90al.15; tomatoes, crate, 1.00a3.00; turnips, basket, 50a75; savoy cabbage, bushel, 75al.15. Apples—Bushel, 75a2.00; cranberries, boX, 3.2585.25; grapefruit, box, 2.00a 3.50; oranges, hox, 2.50a4.50; tange rines, per half strap, 1.75a4.25; straw- berries, quart, 50a55., Dairy Markets, Poultry, alive—Young turkeys 32a35; old, 28a30; crocked bre: Spring chickens, : 20; old hen: capons, 34ad0; 3 ducks, 20a30; geese, 20a26; guinea fowls each, 40a80; pigeons, pair, 30. Poultry, _dre —Turkey: young, pound, 32236; old toms, 28a30; poor and crooked breasts, 25: chickens, young, 30a35; cld and mixed, 25a30: capor " old roosters, 18a20; ducks, 25a30; geese, 23a30. Eggs—Receipts, 18a20; cases, native and nearby, firsts, free cases, 36a37; current receipts, 30a35. Butter—Good to fancy creamery, pound, 47a51':; prints, 5114a53! blocks, 501:a52 ladles, 38a40: store packed, 30; process butter, 43a44. Hay and Grain Prices. 2 red Winter, garlicky, ; January delivery, 1.28. Corn—No. 2 export, January delivery, peas, bushel, pound, a;;. 1.02; No. 2 yellow, 1.04; cob corn, 4.90a 4 15.00. Oats—No. *2 white, domestic, spot, 58a58'2: No. 3 white, domestic, spot, 56a57. Rye—Nearby, 1,10a1.20. Hay—Receipts, none. While hay is arriving here in limited quantities only, ! it is more than ample for the demend, which is being supplied mostly by truck from nearby points, few carloads being 8 4 9 55% | received. There is not enough business passing to establish prices on the va- rious kinds on merit.at a range of 16.00a18.50 per, ton of timothy or clover ay. Straw—No. 1 wheat, 11.00a12.00 per %4 | ton; No. 1 oat, 12.00213.00 per ton. PARENTS FIGHT TO KEEP HEIRESS TO" $3,000,000 Custody of 7-Year-Old Daughter of Divorced Pair Sought in Court Tilt. By the Assoclated Press. PALM BEACH, Fla., January 11.—A mother and a father prepared for a court fight here today for the custody of a 7-year-old daughter, heiress to $3,000,000 left her by a grandmother. In a petition Mrs. Frederick N. Watriss, former wife of Frank Duff Frazier, New York clubman, charged that Frazier is “not a fit person to have charge and education of a child.” Frazier replied with equally sensational charges. The action is the culmination of a long legal fight which started in 1924, when the Fraziers separated. CHICAGELIVE STOCK:V-[ARKET CHICAGO, January 11 (®)—(U. S. Department of _Agriculture) —Hogs— Receipts, 43,000 head; market active to | shippers and small packers, mostly 10a 25 higher; top, 9.25, mostly 9.00a9. market for better grade 150-300 Ib butchers; medium to choice 250-300 lbe., 8.8029.15; 200-250 lbs., 8.9029.25; 160- 130-160 Ilbs., 8.50a 9.20; packing sows, 7.90a8.50; medium to choice 90-130 Ibs,, 8.9¢ .90, Cattle—Receipts, 3,000 head; calves— receipts, 1,000 head; fully steady tra: on all classes fairly active; light weight steers and light heifer: mand, lower grade most short fed steers, 11.50a12.75; one or two 14.00215.00; slaughter classes, steers, good and choice 1,300- 1,500 lbs., 13.00a16.50; . 1,100-1,300 1bs,, 13.50217.00; 5. up, 9.508 .75; fed yearlings, good and choice 750-950 lbs., 13.50a16.50; heifers, good and choice 850 lbs. down, 11.50a14.00; common and medium, 8.25a11.50; cows, good and choice, 8.25a11.25; common low cutter and good and choice cutter to medium, fed), good and medium, 12.50a (beef), 7.75a9.90; v TS (mil choice, 15.00a17.50; 15.00; cull and common, 8.00a12.50; stecoker and feeder steers, good and choice (all weights), 11.00a12.25; com- mon and medium, 8.75a11.00. Sheep—Receipts, 14,000 head; bidding 25 or more lo bid 15.50a16.25 on good to choice la: 3 sheep and feeding lambs stead) common, pigs, | in’ broadest de- | predominating; | | 50,250,000 tons. ORKERS' BUYING POWER IS HIGHER Statistics Show Employment Is Higher Than in Any Recent January. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 11.—More workers are employed today in the United States than in any January for cars. Despite that fact, careful indicate that around 3,000,000 not extraordinary nor alarm- ing. A year ago this idle population amounted to well over 4,000,000, accord- ing to statements issued by the Depart- ment of Labor. The normal labor turnover involves hundrods of thousands. The move- ment, of suit case mechanics—men with the itching foot—keeps a certain num- ber cf jobs at any season. Some work- s the saying goes, “at rest and oit.”” They are jusc vacationing between jobs, with ample funds to carry them until they are on the payroll again. Still others are voluntarily idle. Demand for Efficiency. But the main reason for the unem- ployment which ex today is incom= petenc Never before have the work- ers been so efficient and never has the and for efficiency been so high. New industries are springiag up con= stant'v. ‘Chey need and want men. It only the drudges who have neither ability nor desire to change from old employments to new and readjust themselves to new industries that need help. This is apparent from reports the United States Employment Service, most of the States. & Today the iron and steel mills are running in most sections close to 90 per cent of nominal capacity. There are prospects for further improvement. ‘The New York Automobile Show will close Saturday with a volume of sales which has never hitherto been equalled. This and subsequent shows will give & stimu- lus to production which will absorb something like 50,000 workers in the industry before February 1. The building trades are more than ! ¢ngaged. he road and bridge and dam build- ing programs, coupled with expansions and improvements on the railroads, furnish work for over a million men | during the open weather season. The | | chief difficulty will be felt by the so- called white collar workers, who have | plodded along in a rut for years. They will be asked to do more work with fewer members than ever before and there is a possibility of considerable unemployment in this class before Spring is over. "The railroads are bemoaning the drop in passenger traffic, but those roads that are doing best in this respect say capture of business is merely a matter of providing service which will appeal to the public. They realize a ride on a railroad train or in a Pullman no longer is a novelty and that they must sell comfort and safety as well as transportation. \ Retail Trade. The textile plants are facing the future with more confidence. They feel that the domestic mills now.are in a; position to offer goods fully as attractive s any from abroad. Retail trade will reflect all these fac- tors and give the most accurate measure of employment by revealing the buying power of workers. In the last year | retail sales totaled about $40.000,000,000. | This has been confirmed by the National Retail Dry Goods Association. There is every reason to believe that this rate of progress will be maintained in the first six months of 1929. WALL STREET FIRMS ADD TO PERSONNEL By the Assoclated Press. NEW YORK, January 11.—January 2 probably was the biggest moving day in the history of Wall Street. Changes in executive personnel of commission houses were more numerous than ever before, their announcements requiring two pages or more of news- paper advertising space and columns of news. 5 Virtually every firm enlarged its staff, indicating widespread expectations of a growing volume of business in 1629, the increases coming on top of others made late last year during the great bull market. The larger houses added five partners or more. Most others took in at least three. There were wholesale promo- tions in the Street as veteran employes became executives and partners in firms many of them joined as office boys. ‘There was also a realignment of estab- lished forces as traders and brokers found opportunities to employ their ex- perience and .knowledge to better ad- vantage with other houses, and an un- usual amount of changing of fields of endeavor. Even the newspaper ranks were invaded €or men of experience and understanding, whom brokers believed would be helpful in meeting the exact- ing demands of a growing public inter- est in security trading. Curiously, announced changes in exec- ntive personnel of corporations were comparatively few. Schwab Forecast Realized. NEW YORK, January 11 (#).—Charles M. Sghwab’s “pipe dream” of 50,000,000 tons annual sieel production has been realized. ~ Last year production was When Schwab made his forecast 20 years ago nearly every one said he was dreaming. In 1908 steel ingot production fell as low as 13,677, 000 tons and jumped to 23,298,000 tons ih the following year. SOl i Heads Steel Firm. NEW YORK, January 11 (P).—J. R. Gorman has been elected president, a director and member of the executive committee of Transue & Williams Steel Forging Corporation of Alliance, (?hzo.d succeeding F. W. Trabold, re- signed. New Construction Contracts. NEW YORK, January 11 ().—Heavy construction and engineering contracts let in the United Stal in the first week ‘of ‘the new year were valued at $73,639,000, against $61,133,000 in the ding period last year, Engin- cering News Record reports. GERMAN BONDS ANDHSTOCKS. ! enough and which maintains employment offices in BY KENNETH S. VAN STRUM. NEW YORK, January 11.—Probably the most difficult phase of stock trading is to know when to sell. Almost every owner of a share of stock is sooner or later faced with this problem, although some believe that one should never seil good stocks. It often becomes ad ble, however, to sell a stock that seems overvalued and to replace it with issues which seem lower in price, Volume of Trading. The amount of trading in a stock helps to determine the high points. By vatching the price trend of a stock 1 relation to the volume of trading muc! can be told about its “technical” posi- tion. As long as a stock continues to advance and the number of shares ! traded in each week does not increase above the volumes of preceding week: it is usually safe to hold. Even though the volume of trading increases it is also usually safe providing the price of the stock continues to rise with the volume, 1If, however, the volume of trading in- creases sharply while the pr very slowly a critical point is us indicated, for this condition int that selling is becomin: The natural tendency i to hold on to a stock even mort when trading increases, because the owner thinks he has something that every one we does not rise wh it often indicate have decided the price has gone liguidating their share It is, of course, impossible to determin: of trading in relation to price trend of a stock is always a help in determining an advantageous selling point. Two Examples. As an ekample of rising volumes as an aid in determining resistance points it 1s interesting to observe that American Car & Foundry has fluctuated between 86 and 109 for two years and during this period has always met heavy selling be- tween 106 and 109. Last week it ap- proached 106> and the volume rose sharply. In another instance American Locomotive, which has fluctuated within limits of 98 and 115 for two years, ap- proached 115 and the volume increased here also. Sharp reactions occurred in both stocks. The volume of trading is also used to defermine when the technical position 5. will | of @ stock is good. For instance, Mack Trucks for the last two rs has met heavy Tesistance around 110, but is now finding the going somewhat easier as indicated by lower volumes. Some stocks which have been advancing steadily and meeting with little resist- nce as shown by sicady or declining volumes are Corn Products, Electric Auto Lite, Gillette, International Busi- ness Machines, New Haven and Penn- ylvania, Providing fundamental fac- tors indicate that the trend of such stocks is upward their technical posi- tions would be considered good. Mixed Openings. When the market opens generally Jower in the morning than the previous night's close it is often regarded as un= favorable, whereas a higher opening is considered bullish, The chart shows the range of openings during the past few weeks. During the latter part of November and through the early December de- cline sometimes the market opened higher, sometimes lower. indicating un- certainty. During the sharp rise which took place toward the end of Decem- ber the openings were consistently higher until just recently when the market had reached the old resistance levels. During the last few days some openings have been higher, some lower, indicating a degree of uncertainty re- garding the future. In the past a broad upswing in prices has usually been accompanied by consistently higher openings each morning, and some traders are inclined to let the market continue its backing and filling process until the future trend is more clearly outlined. (Copyright, 1929 RUBBER PRICE REEORD. NEW YORK, January 11 (#).—Buy- ing, ascribed chiefly to speculators in London and on the continent, price of crude rubber above the 21-cent- a-pound level on the New York Rubber Exchange today and established a new trading record. A total of 69571 long ed hands in the first two hours, with American interests on the selling side. Pipe Prices Reduced. NEW YORK, January 11 (#).—A. M. Byers Co. of Pittsburgh has lowered prices on welded iron pipe as a result of savings in production costs effected last year. @he Foening Star Rivcy orfl the exaet top, but a study of the volums | ent the | tons, valued at nearly $3,000,000, chang- | NEW YORK EXCHANGE CLOSES PRESSROOM By the Assoctated Press. NEW YORK, January 11.—The “library,” or pressroom of the New York Stock Exchange, which for 15 years has been a gathering place and clearing house of tips and ideas for the scofes of newspaper men who “cover” daily events in Wall Street, has been closed. In the opinion of Stock Exchange officials, and many of the city's financial editors, the room has outlived its use- fulness. Upkeep of its glozen or more telephones, tickers, news’slips and other facilities has been costing the exchange in the neighborhood of $20,000 yearly. Hereafter reporters will obtain ex- change news direct from the offices of the publicity department, on the fourth floor, and the old “library” will be re- modeled to provide storage and working space for departmental activities. The passing of the “library” virtually marks the end of an institution. It was opened back around 1913, when, after the Pujo investigation had run its course. officials decided to strip off the cloak of mystery obscuring exchange activities and invited news- paper men to interest themselves in its new developments. Newspaper men soon found doors swinging open. Grouchy officials were replaced by public relations executives cager to co-operate. Newspaper men began to learn the ways of the ex- change, Their stories aroused public interest. The volume of exchange news pubBlished grew amazingly, and the ex- tensive financial pages of the present are to a degree the result. A Public Utilities Special Dispatch to The Star. NEW YORK, January 11.—Standard sas & Electric reports combined earn- ings of all subsidiaries and affiliated companies for the 12 months ended November 30, with gross amounting to $147.095,305, compared with $140,977,999 in the preceding 12 months; and net after ordinary taxes 'of $67,645,205, agninst $52,377,763. For the 12 months ending November 30, the gross of the Philadelphia Co. amounted to $61,776,764, against $61,- 512,121 in the year before. United Light & Power including sub- sidiaries and consolidated earnings of ‘American Light & Traction Co. shows net income for the 12 months ended November 30, of $6,055,636 after depre- ciation, interest, amortization, taxes and all other charges. SCIENCE ACADEMY GETS EINSTEIN MANUSCRIPT New Treatise Is Regarded by Pro- fessor as More Important Than Relativity Theory. By the Assoclated Press. BERLIN, January 11.—Prof. Albert Einstein has submitted to the Prussian Academy of Sciences a_manuscript of five pages which it took him 10 years to complete and which he considers of more importance than his widely dis- cussed theory of relativity. The manuscript contains mathemat- ical and physical formulae amplifying the theory. It is a treatise in abstract mathematics dealing with the problem of merging mechanics and electro- dynamics. The Prussian Academy of Sclences will release it in about two weeks. DURANT FAMILY TO KEEP CONTROL OF MOTOR FIRM By the Assoclated Press. NEW YORK, January 11.—Wiliiam C. Durant today amplified announce- ment of his retirement from the man- agement of Durant Motors, Inc., by saying control of the company remains in" his family. Arrangement with the new groups which will take over the management, e explained, is a contract for manage- ment and has nothing to do with control. “Control of Durant Motors, Inc.” he said, “has been in the Durant family since the company was organized and not a share of this stock has been sold. On the contrary, my personal holdings have been increased during the past three weeks by purchase in the open market and private sale by upward of 60,000 shares. “My recent purchase of the entire stock of Locomobile Co. of America and the fact that I am reorganizing the company and shall give my personal attention to the direction of its affairs is evidence that I am not retiring from the automotive industry.¥ Norman Devereaux, head of the Durant Motor Co. of California, arrived in New York today in connection with a reported merger of this company with Durant Motors, Inc, a Delaware concern. o Juvenile Judges Must Know. According to the new law in Austria, judges of juvenile courts are required to have a knowledge of child-training methods and some training in psychol- ogy and psychiatry and before rendering a decision in a juvenile court must meet with the local branch of the state chidren’s bureau. If there be no state bureau, a child welfare agency must be consulted. The juvenile court has juris- diction over children between 14 and 18 years of age. s ADVERTISENENTS fi RECEIVED HERE Healy’s Drug Store 1907 Nichols Ave., Anacostia Is a Star Branch Office Placing a Classified Ad- vertisement in The Star is simplified by the establish- ment of Star Branch Offices in practically every neighbor- hood in and around Wash- ington. Copy may be left at 13° TWO-BILLION-DOLLAR POWER SYSTEM SEEN IN EASTERN U. S. By the Associated Press. NEW YORK, January 11.—State- wide grouping of Eastern power sys- tems, representing $2,000,000,000 in se- curities, was seen in financial circles today as the ultimate outcome of the formation of the United Corporation by the Morgan “interests. Announcement was made yesterday of the creation of the United Corpora- tion with a capital stock of $260,000,000 by J. P. Morgan & Co., Drexel & Co. and Bonright & Co.,. Inc,, to acquire minority holdings in the United Gas Improvement Co., the Public Service Corporation of New Jersey and the Mohawk-Hudson Power Corporation. ‘The interests in the three companies taken over by the new corporation, the announcement issued by Morgan & Co. said, are now held by the organi- zers and the American Superpower Corporation. The function of the United Corpora- tion, it was said, will be restricted to the financial structure of the utility companies in which it holds interests and will have no part in the manage- ment of the properties. The ultimate linking up of power systems deriving their energy from the St. Lawrence, Niagara and streams in Northern New York State with lines fed from generating units of Cono- wingo and other Susquehanna sites to the south to cover the State with a network of power lines is seen in public utility circles as a logical function of the United Corporation. While the physical groupings will be held within State boundaries so that | the public utility companies affected own State’s public service commission the financial -re-adjustments fore- shadowed in the formation of the United Corporation are expected in financial circles eventually to involve companies in New England, Delaware, Maryland, Pennsylvania, New Jersey and New York. Commodity Notes Onions. PORTLAND, Oreg, January 11.— There is much excitement in the onion market at primary points in the Pacifie Northwest with $3.50 a hundred-pound sack offered growers in carload lots. There are few offerings. ‘Wool. BOSTON.—Medium wools continue in strong demand in this market. This trend has been emphasized by the strength of English markets, with Brad«- ford strongly in the market. Montana half blood is being held at 1.12 a pound or above clean, and three-eights blood ranging from 1.05 to 1.08. o 0il. SAN FRANCISCO. — The gasoline price war, which has been confined to the East Bay district, now has invaded San Francisco. where independent re- tailers are selling as low as 18 cents a gallon, including the 3-cent tax. Big distributors are maintaining a price at will be each under jurisdiction of its| 21 cents. WRRRARRYFRANC JEWELRY CO.RWRSFRY $29.75 complete PRE-INVENTORY OFFER - Special for Saturday MESH BRACELET WITH BULOVA STRAP WATCH Complete Both for the Price of One ‘MAN’S BULOVA STRAP WATCH 15 Jewel movement. 25 year white gold filled case. Complete with Mesh Bracelet $29:5 complete $ Down Pay Only 59c Week 718 ST.I=~ Fight the flu with PLUTD Americas Lavative Water HE most important single factor in preventing or conquering the flu is keeping internally clean by flushing out the waste-poisons in which flu germs thrive. If you feel the flu coming on, take Pluto Mineral Water. If you're unfor- tunate enough to have already con- tracted it, Pluto will help you fight it off by ridding your body of poisonous waste products. A small amount of Pluto Mineral ‘Water each morning, diluted in plain hot water, maintains the system at top efficiency — free of poisonsand in per- tlumbs. good and choi Special Dispatch to The Star. NEW YORK, January 11.— Bid. Asked. | any one of the Branches—in- | 55.00 60.00 j | | | | | sured of prompt insertion in the first available issue. No fees are charged for Branch Cffice service; only regular rates. ness in cotton cloths. S Ve e B U. S. TREASURY RECEIPTS. MORIN BILL URGED. : G A Lo Fattalied Lomn mith draw e 07 93 cxpenditures, Loan - without , $181,203,310.33. fect trim to combat the flu. Pluto is harmless,non-grip- ing, non-habit-forming, It flushes out the system in from 30 minutes to two hours. Physicians prescribe it. Bottled at the Springs, French Lick, Indiana; sold at all drug counters and at foun- tains everywhere. U. S. Chamber of Commerce Asks| Trial Munitions Orders Be Placed. Promotion of industri by the enactment t0 permit the G munitions and cquiy commercial plants, w representatives of (he merce of the United mony before the Hou 0.00 o THE ABOVE SIGN Dlsmli'vso The Star prints such an over- av whelmingly greater volume of AUTHORIZED Classificd Advertising every STAR day than any other Washing- BRANCH ton paper that there can be no OFFICES question as to which will give — vou the best results. 2 94 )75 100% 108 R NEW YORK, January 11 (#).—Short AP interest in_the market is reporied by | brokers to be larger than it was a week |} ago. o o D Line 41us. Lioyd 4lus... Rail Revenue Reyort. BALTIMORE, revenues of the Western Maryland | 1 G for 1928 were $18,685,786, against $21,886,170 for 1927, a decrease of $3,280,383, or 15 per cent, according to an estimate just issued by the com- pany today. December were $1,474,255, parative drop of $225,455, or 13 per ceni. k Darmatacdter Bank. Heyden Chem ... Mercur Bank Vienn Norih German_Lloy Austrian a Rudolph Karstadt. “Around the Corner” is a Star Branch Office the Secretary of War to place with in- dustries orders of on educational char- eeter for equipment, munitions and ace cessorics, 8Texas P & 1, 55 2Trans Lok 68 11 7Unl Lt & Rail 5% WHEN NATURE WON'T, PLUTO WILL