Evening Star Newspaper, May 26, 1929, Page 80

J. 1929—PART [RAILROADS ACHIEVE ('™ ALONE CRITIC SCORED \COMPANY TO ASSIST . | GAIN IN EFFICIENCY FOR COMMONS ADDRESS| gMALL INVESTORS ¢ Liberal Weekly Says Much Harm Br the Associated Press. Br the Associated Press herts .| May Come From Remarks of BURGH, May 25—An analysis | NEWARK. N. J. May 25—Ex-Go: of the earning power of the country's CodSh 2 Sl S T | Harry Moore of New Jersey, who has 59 leading railroads, prepared by the By the Associated Press organized an investment trust for men LONDON. May 25.—The recent and women of moderate means, believes THE frnctiun did not seem very heavy from |tral West and Northwest. continuance SUNDAY STAR, WASHINGTON. D. C., MAY 26, the earlier month and left compari. |of strikes at textile milis in several sons with a year ago still favoring the | Southern States, a sharp break of 6 AMERICAN EXPORTS ‘ Commodity Notes l AMAZE FOREIGNERS | month just closed. cents a pound in prices of copper with | special Dispatch to The Star. “The so-called heavy industries as|Sympathetic weakness in other non. a whole held up well as compared with |ferTous mefals and weakness ool March and enslly fxceeded Hhe s | naturally slowed, were among the more the same month a | ! Sy Bicnite of the Hood thow. | prominent local drawbacks to fullest | e T activities in varlous sections. ing_made by most of the factory in- |act] —— \ v vy lines, “The available statistics of trade dis- dustries and especially the heavy lines, | The available statistics of trade die; | |iron and steel and related lines, such | 0il. CHICAGO, May 25.—The advance in erude oil prices is expected to put this end of the oil business back on a profit- | able basis. As a result of the advance By the Assoctated Prese. | BOSTON, May 25.—Foreign economic opinion, reflected in commercial jour- nals of Asia. South America, Europe | a5 automobile manufacturing, agricul- | tural implement and machine tool mak- |ing and electrical aftachments, par- | ticularly merchandise specialties of the latter such as refrigerators, led most [ other industries in volume and speed | of output. | “In the cotton industry the one and two-fifths cent drop in raw ma- terial prices plus weather - conditions Chamber of Commerce Fig- ures Indicate General Conditions Were Good. April's trade and industrial report was a fairly cheerful one, and in most respects was quite as satisfactory as in the previous month, says Frank Greene in his monthly review of general bus ness conditions in the current numb: of Nation's Business, published by the Chamber of Commerce of the United States. Rather sharp declines in the pric of most farm products and continucd high money rates, he observes, caused some degree of caution in the making of new business commitments “It is true” he writes, “that dis- tributive trade fell off from March. but eutside of building and perhaps cotton goods buying and manufacturing, the fornia and produce in April a market contrast with recently preceding manths when sales and shipments were heavy. The | weather was a bar to activity in most apparel lines, this including shoe manu- facturing and sales. In coal buving |and mining both. receded. and there was some curtallment in the output and sales of paper and furniture. High water in streams. fear of floods, disastrous wind storms. the imposition |of a quarantine against the Mediter- ranean fruit fly in Central Florida. damage by frosts to fruit crops in Cali- ows in early May in the Ce |tended to reduce sales of cotton goods | order sales of 4 per cent over March and of 38.7 per cent over April a year ago. Chain stores on the other hand, | while showing a decrease of 10 per cent from March registered an increase of |88 per cent over April, 1928. The two |lines combined showed a decrease of |5 per cent from March. but a gain of | 19 per cent over April last year.” and the British dominions. appears in- creasingly spellbound by the American panorama. “An examination of the available data,” says the London Economist. “‘sug- gests that American manufactured ex- ports so far have been merest wave- | lets_compared with the tide that is to | | come.” Trade statistics compiled by the New York Trust Co. are a vest pocket | snapshot of the situation that is causing industrial leaders abroad to take stock of the future. In the early years of the century. for | example, crude materials and crude foodstuffs constituted 425 per cent of the fotal exports from the United | States. In 1928 this figure dropped to 31.5 per cent. In contrast, exports of manufactured | == POTATO MARKET STEADY. CHICAGO. May 25 (#) (United States Department of Agriculture).—Potatoes— Receipts, 91 cars; on track, 67 new, 194 old: total United States, 862 cars; new stock, trading only fair: market steady. Alabama sacked Bliss Triumphs, 4.00a : Louisiana sacked Bliss Triumphs, ; South Carolina Stavs and Irish Cobblers, 6.25. Old stock trading fairly | good. market. firm. Wisconsin sacked | and semi-manufactured products were round whites. 852100, few, 1.10. Min- f averaging 35.3 per cent of the total ex- nesota and North Dakota sacked round | ports back in 1901, the statistics show whites. 85290, Idaho sacked russets, This figure had grown to 60.1 per cent few, 2.05 | in 1928 [T QL I !an advance of 2 cents in gacoline |_The Julius Lansburgh Furniture Co., Entrance 909 F St. N.W . T[T the trend of gasoline prices is counted | Standard Statistics Co. of New York, | upon to be decidedly upward. Already | ShOWs the results of a vear of intense has | ffort by railroad authorities to increase been made in the Standard Oil of In- | oPerating efficiency. s Fifty of the companies report new territory. SR orEito nigh records for the number of cars Rubber. hauled per train last year: 44 of them AKRON. Ohio.—The Goodyear Tire | made new high scores in the net load & Rubber Co. is now producing upward | per_train. of 92,000 casings a day at its various| Twenty roads made new highs in den- plants. The company is making rapid | sity of traffic. Most of these gains were expansions of textile plants in the recorded in the West and Middle West South. It is estimated earnings this | Comparing one road with another. the vear will approximate $14 a share on | analysis puts Texas & Paciffic at the the common stock. top of the list with new high records in 9 of the 10 items studied. | 'Nine of the roads made new highs in 8 of the 10 items. They were the Chicago. Burlington & Quincy. Chicago Lumber. NEW ORLEANS.—Southern Pine As- sociation mills report that in the last week orders increased 19.77 per cent to | Paul & Pacific, Chicago, Rock Island & 49.637.000 feet. Shipments were 58.-| Pacific, Chicago, St. Paul, Minnesota 208,000 feet and production 55.026,000. | & Omaha, Hocking Valley, Missouri- while unfilled orders totaled 195.097.000 | Kansas-Texas, New York, New Haven feet Great Western, Chicago, Milwaukee, St. | costs. 1 | attack of C. H. Cahan, Conservative, St. Lawrence-St. George. Quebec, on the conduct of the I'm Alone nego- tiations in the House of Commons at | Ottawa is provoking comment in Lon- | | increased their gross train loads. and 36 | don. The Nation. a weekly Liberal review, says: “No good can be done and much harm may be done by such utterances as those of C. H. Cahan, who describes the sinking of the I'm Alone as either an act of war or deliberate piracy. “The real object with which Mr. Cahan raised the question became clear when he went on to criticize the Cana- dian diplomatic protest as giving away too much to the United States. He was | out to discredit the government at all Hitherto all parties concerned in the question have kept their heads and. tempers admirably. Premier Mac- Kenzie King's reply should prevent any disturbance of the atmosphere by Mr. & Hartford, and Wheeling & Lake Erie. | Cahan’s outburst.” systematic investment by persons of small incomes is the best insurance against dependence in old age. Similar plans advanced by John J Raskob and other financial leaders fur- nish ground for the theory that the present period of mergers, consolida- tions and the ever widening horizon nf big business has increased the impor- tance of small investors in the gen- cral scheme of things. Ex-Gov. Moore's new organization the Investment Fund of New Jersey plans to carry into effect a program resembling the one recently introducec to banking circles by Mr. Raskos Subscribers to the fund will be encour- aged to buy its shares on an easy pa:- ment system Some banking authorities profess to see in the “poor man's investment trust” merely a return to the origina idea of trusts, which was to make sible diversification and expert leader- p for small i S. 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