Evening Star Newspaper, July 10, 1929, Page 10

—. 4 SCHILLING KNOWN AS 600D ORGANIZER New Member of Farm Board! Also Noted for Sense of Humor. ' THE EVENING STAR. WASHINGTON, athletic and muscular. He stays in the city as few hours as he can, and his youthful, tanned face shows much of the outdoors. “I have always been interested in balance sheets,” he remagked to me. “That's the auditor’s life. If you tie that up to the significance of assets and liabilities you immediately enter the fleld in which I have written most extensively. “No, it is not hard work. Nothing is hard when you like it. Balance sheets are just as interesting as novels. The trouble with most people is that they don't understand them. If they did they'd all be reading them.” When Magnus H. Alexander, presi- dent of the National Industries Confer- ence Board, spoke before the Intern: BY JOHN F. SINCLAIR. [ @pecial Dispatch to The Star. ! NEW YORK, July 10.—Farm relief | §s serious business, but not all meet- ings of the new Farm Board should be | serious. For_through the appointment of William F. Schilling cf Northfield. | Minn,, president of the Twin City Milk Producers’ Association, the board will ess_at least one humorist. Mr, Sthilling, who lives on a large dairy farm a few miles from the beau- tiful college city of Northfield, has in, addition to his dairy work been writing & weekly column for more than 20 years for the Northfield News, under the name of “Tergiveros Tim. There he is an institution. The funny side of life has always appealed to him. Once he was hu in an automobile accident and sent fo the hospital Herc's the way he put it: “A mov- ng van picked me up, rolled me in a horse blanket and backed up to the rear door of the hospital. “The only real joy upon entering hospital is picking a nurse and the ly improvement made in hospital beds during the last 500 years is to grad. ually raise them so high from the floor that a patient must use a stepladder | to get in and out of them. Small nurses gel their daily exercises by chinning (hemselves on’ them So the meeting of the new Farm Board should not be dull and uninteresting with Mr. Schilling about. Seriously, t! h, as one of the or- ganizers of the Twin City Milk Pro- ducers’ Association he has been a lead- er in making this organization one of the most efficicni Co-uperative move ments in the Nation Ninety-five per cent of all the dairy farmers living within 40 miles of the Twin Cities (St. Paul-Minneapolis) are in our association.” he said to me. “I have studied the co-operative movement in Denmark and Ireland, and it i my conviction that we are 10 years ahead of any other dairy co-operative move- ment in the world.” The prosperous | Jooking dairy farms about the Twin Cities show it. Mr. Schilling sees no future in the in- | dividual farm movement as such, but in the joining of the farmers in an effec- | tive efficient business co-operative he sees much | How do you like the new money, out today? The new bills. about two-thirds the size of the oid, mark a distinct depar- ture in the history of United States money. 1t is the first time in 66 years that the size of the paper money has changed. Only our grandfathers remember the motley variety of shin-plaster, stump- tail, red-dog currency every State bank used to issue. Not since the Civil War days, when the Government substituted the greenbacks, have our doilar bills va- ried as much as a fraction of an inch. What is the idea in changing the size today? The smaller size will save the Govern- ment $1.500.000 a vear. Each note re- Qquires less paper and ink, and beside: they will last longer. They are “sized” so they won't have to be folded so much. They can be more easily identified. Get acquainted with the portraits on each denomination. You can't go wrong: On dollar bills, George Washington: two- dollar bills, Thomas Jefferson: fives. Lincoln; tens, Hamilton; twentles, An- drew Jackson; fifties, U. S. Grant. As for the higher denominations. why Worry? Most of us never se¢ ‘em any- how! Go to your bank. Turn in your old bills and get the new. The old ones will be bundled up by the bank and sent to the Treasury in Washington to be burned as “useless waste paper. Who is Stuart Chase, whose business writings in recent years have com- manded such wide atiention? Mr. Chase was born in Somerworth, N. H., 41 years ago. After graduation from high school he became a student at the Massachusetts Institute of Tech- nology. He transferred to Harvard, | specialized in accounting and economics. became one of Prof. W. Z. Ripley's “bright” boys, and was graduated “cum laude” from Harvard in 1910. For the next few years he was & partner in a firm of public accountants, | with headquarters in Boston. But com- mercial work as such did not appeal to him. So he resigned and became a special investigator for the Federal Trade Commission, centering his studies on the meat indusiry. During this time he had occasion to study the wastes and jnefficiencies of the industry. In 1922 he resigned from the Federal Trade Commission and became an expgrt ad- | viser with the Labor Bureau, fuc, of New York. Since that time Mr. Chase has pub- Yished several well known books, includ- ing “The Tragedy of Waste” and “Your Money’s Worth,” both of which com- manded_national attention. Mr. Chase is a product of the new achool of economic thinking. He is| slightly under average in size, weighing | about 140 pounds, is dark complexione: For vacation information and Booklets, write, phone or calls tional Chamber of Commerce at Am- sterdam yesterday, he made this state- ment: Production capacity In various in- dustries the world over has increased to a point where a balanced outpu which is the basis for stable industr: activity, has become a paramount world cconomic problem.” This New York business leader went on to say that production alone creates purchasing power. So all the Industries in the wor'd could not possibly produ too much, for each product in eflect should be in demand for other produc But one important factor always has to be kept in mind, and that is how to correlate and exchange production “in a well balanced market. Mr. Alexander holds that only by proper co-ordination of production and the proper balancing of the various eco- nomic activities are stable conditions | produced. At its best, therefore, the world needs facts—definite. concrete, simple author- itative facts. Then the problem of ex- changing one article for another should Le a simple matter indeed, did not na- tional boundary lines interfere. For tariff_ walls which obstruct and prevent the free exchenge of goods from one nation to the other always stand as a threat to world prosperit So in the end the problem of the tariff is, at best, the problem of civiliza- tion. (Copyright, 1920. by North American News- paper Aliance. UNFII.i.éD STEEL TO;iNAGE. NEW YORK, July 10 (4. Unfilled tonnage of the United States Sieel Cor- poration decreased 47.357 tons in June, the monthly statement revealed toda The June 30 total of unfilled orders was 4.256.910 tons. against 4.304.167 tons on May 31: 4,427,763 tons on April 30, 4.410,718 tons on March 31, and 3,637,009 tons on June 30, 1928. Business Notes By the Associated Press. ¢ NEW YORK, July 10.—The New York Steam Corporation, which sup- plies steam to many of the large build- ings n the financial district, has con- tracted to furnish the entire steam re- quirements of a group of buildings in the Grand Central district, covering 20 city blocks. Approximately 1,500.000.000 pounds of steam annually will be fur- nished under the new contracts. Plans for the recapitalization of the National Steel Car Lines Co. will be considered at a special meeting of the directors on July 22, The 40,000 or more employes of the Chrysler Corporation have bern in- sured under a group policy covering accident, health and life. The annuai premiums will amount to more than $1,000,000. By the Associated Press. NEW YORK. July 10. offered today include: $15,000.000 Commercial Credit Co. $2 class A convertible stock, series A, at $50 a share, yielding 6 per cent. $4,000,000 Long Island Lighting Co. 6 per cent cumulative preferred stock, at $100 a share and accrued interest. $3.890,000 City of Syracuse, N. Y., New securities cent bonds, due 1930 to 1939, at from 5.25 to 4.30 per cent. 42, per’cent, 41, per cent and 4 per | [ l | mp 0_1[ees 'sz,us.ono City of New Orleans, la. | per cent paving certificates, due 1931 to 1940. and yielding from 5.50 per cent to 5 per cent. 40,000 shares of Ex-Cell-O Afrcraft & Tool Corporation no par'common stock at $23.50 a share. DIVIDENDS. i e SNk $175 Au 300 July . Stack of Corporation. record. Anglo-American aph C Am Natural Gi Co 37 pf...... Q@ Bryant Park Bi 8-A Columbis Gas & 00000 00D Honeywell Regu- ator Co... Nashville, Chat- tanooga & St. Louis Ry (oldi §-A Nat'l Am Co. Inc Newberry, J J, 0 Pf........ Oppenheim’ Coi- dlny o Pyrene Mig C.. Tide Water Oil Ext 125 Aug. 15 20 Aue. 128 Aug. 130 Aug. Aug. Co pf Savannah Sugar 0 pf.. 3 15 United ‘Cigar Stores of Amer 8% cum pf... nt 150 Aug. 1 July 18 CANADIAN NATIONAL— TO BVERYWHERE I .| in good condition, but it is improl VEGETABLE SUPPLY AMPLE AT MARKET Fruits Also in Large Receipt. Butter Prices Are Changed. | Pruits and vegetables were piled high | on all sides in the commission house district this morning, the numerous va- | rieties of both products coming from ! nearby and from places in all sections | of the country. “Plentiful supplies, but some not so g00d,” commented a dealer, calling at- | tention to a shipment of peaches re- | ceived from North Carolina. | ““There are so many decayed peaches /in the basket,” he added, “that it lss | nextto_impossible to_sell them. They | should bring $2 or $2.50 if they W;l;?, | that they will net express charges. Peaches and Apples. | Dealers had some splendid quality | peaches to offer the retail trade, how- | ever, prices covering a range of from | $1.50 fo $3 Apples, many of them from Virginia | and Maryland, were received in plenti- | ful supplies this morning. Most of | them were of top quality, but the de- mand for them at $1.50 was slow. Cantaloupes, honeydews, and honey balls w ceived in largely increased | quantities, many of them from chilled | cars and cold enough for immediate | consumption, and @ slightly weaker market was reported. Beneyballs, many of them much larger than heretofore, found ready sale at $225 for flats and much higher prices for standard crates. Honeydews were about similarly priced. | * cantaloupes, jumbos, sold around $3.75 and $4.25, while standards were uffered at $3 Persian melons, larg- | b ol the Cabifornis welons, will not &ppear in the local market untl Win- ter, while cantaloupes from the Ridge- way, N section are expected here next week. Watermelons were mot 30 plentiful today. Dealers had ample supplies fo meet, demands, however, the 32-pound fruit, popular size, selling at. 60 and 63 cents, the 28-pound size bringing 40 and 45 cents. Increased receipts of huckleberries | this morning found ready sale, dealers | quoting them at 20 and 25 cents a | quart. Blackberries, According to size | and condition, sold from $2.50 to $7 a | | crate. Raspberries were quoted at $6 and currants at $5 and $6 a crate. | Plentiful supplies of most varieties of Summer vegetables, many from nearby. attracted attention of buyers this morning. Tomatoes from the | South were not so plentiful, dealers re- ported, and receipts of the nearby | product were not heavy. Homegrown tomatoes sold from $1.50 to $2.50 & basket. A change of a fraction of a cent & pound in butter prices was one of the few changes announced this morning. | Today's Wholesale Prices—Jobbers’ | Prices Slightly Higher. Butter—-One-pound prints, 43a44; tub. 42a43; store packed, 30. Eggs—Hennery, 35a36; fresh selected, 34a35; current receipts, 29a30. Poultry, alive — Turkeys, hens, 34: toms. 32; Spring chickens. large. 45a4! O security or col- fi lateral is re- quired for Gov- ernment Employees of good character to obtain | this special loan. A | savings feature is also added. Your return payments build a final balance for you in “Your Bank.” 1726 Pa. Ave. N.W. District 2709 | Under U. 5. Government Supervision | 8 N CANADA medium, 35238; small, 32a! horns, 30a31; fowls, ducks, ke 8240; Spring cl ens, large, 50a52; medium, 47a48; small Leghorns, 37a38; fowls, 35a3 , '28; fro smoked hams, 30a32; smoked shoulders 19a20; 24a25; lard, in bulk, 14; in_packages, 15. Live Stock—Calves, 15; lambs, 13a15. Fruit and Vegetable Review. ‘The daily market report on fruit and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Sales to jobbers ex- cept where otherwise noted. Cantaloupes—Supplies liberal de- mand moderate, market weaker; Cali- fornia, Imperial Valley, jumbos, 36s, almon tints, 3.50a3.75; jumbos, 45s, X few higher; standards, 45s. ripe standards, 45s, 2.00a3.00. Honey- dews, supplies liberal; demand moderate, market slightly weaker; California, standard crates, 8s and 9s, mostly around 2.00; 6s, 1.75; holdovers, fair quality and condition, 1.50. Honey balls, supplies moderate; demand improving, market slightly weaker; California, jumbos, 36s and 45s, 4.50a5.00; stan ards, 45s, 4.00a4.50; flats, all sizes, 1.75a 2.00. Lettuce—Supplies moderat: moderate, market slightly weake: fornia crates Iceberg type, 4 3.75a24.00; few fancy, higher: dition, 3 Big Boston type, mostly around 1.50; poor quality and condition, low as 50c. Onions—Supplies light: demand mod- erate, market steady; California, stand- crates, Yellow Bermudas and demand Cali- dozen, The Original Orange Gas from the Orange Pump “ All Dealers « At the Sign of the Orange Disc ESDAY, pound sacks Yellow Bermudas, U. 8. No. 1, 2.00a2.15; Norfolk section Vir- ginia, bushel hampers, yellows, No. 1, 1.25a1.50. Peachbs—Supplies light; demand mod- erate, market firm for good stock; North Carolina, bushel baskets Hileys, U. S. No. 1, 2-inch minimum, 3.25a3.75; few fancy, high as 4.00; 1%-inch, minimum, 3.00a3.50; South Carolina, | bushel baskets, Belles, unclassified, very large size, poor condition, wormy, 2.00. Potal upplies moderate; demand Virginia, cloth-top stave barrels, Cob- blers, U. 8. No. 1, mostly 4.00. | Tomafoes-—Supplies moderate; de- mand moderate, market steady. Ten- nessee, fours, ripes and turning, wrap- ped, No. 1, 1.50a1.60; nearby Maryland, 1;-bushel hampers, turning, unwrapped and ripes, unwrapped, 1.50a2.00; few early sales high as 2. ‘Watermelons—Supplies moderate; de- mand good, market steady; Georgia and South Carolina, Tom Watsons, 20-24- pound average, 30a35; average, 60 Georgia, Dixie Belles, 34-pound average, 75a85. String beans—Supplies liberal; | mand moderat de- market steady: East Marylan bushel hampers, Bountifuls, 2.00 nearby Maryland, b shel.bnskeu, round stringless, 2.00a Cucumbers—Supplies moderate - mand moderate, market steady. North Carolina, bushel hampers Fancy, 1.50a 1.75; n Shore of Maryland, bushel hampers Fancy, 1.50a2.00. Corn—Supplies moderate; deman | moderate, market slightly weaker: North | Carolina, erates, 2.00a2.50: Norfolk se | Hon, Virginia, 5-dozen bags, ordinary | quality, 1.75a2.00. | _ Apples — Supplies libera demand moderate, market steady; Virginia bushel baskets Gravensteins and Olden- burgs, U. 8. No. 1 up, fine light, market about steady: East Shore | 30-32-pound | | quality and condition, 2.50; U. 8. No. 1, | 21 inches up, Transparents, 2.25; Del ware, el baskets Transparents, labeled U. 8. No. 1, ordi. nary quality, no sales reported. Lit beans—Supplies moderate; de. North Carolina, bushel hampers mostly 4.00; South Carolina, bushel hampers, 3.50. Blackberries—Supplies light; moderate, market about steady; Virginia, 82-quart crates, 4.50. demand nearby IN TARIFF ON STRAW | Special Dispatch to The Star. | BALTIMORE, July 10.—The stiaw hat manufacturing industry in this | country would be increased by the ad- vance in straw tariffs proposed in the | Hawley-Smoot tariff bill in Congress, gecarding to epokesmen for the industry Leslie W. Moss of M. S. Levy & Sons and S. George Wolf of Townsend, for Baltimore concerns, have denied | there was any misrepresentation in their reports of the comparative cost of pro. | duction in the United States and Italy which now supplies about 60 ner cent | of the hats worn by men of the United | States. ; | *The tariff should be high enough | they contend. to bring a larger propor- tion of the business to this country. | Ambascador de Martino of Italy hacs | contended the schedule proposed would { bar all Jtalian straw hats. inflict a severe blow to factories in his counts | and reduce the buying power of Ital in American markets. Denmark 15 just damage done by the severe recovering from Winter. ‘Willlams and | | Grace Co., who are pushing the fight! | Commodity Notes | 8pecial Dispatch to The Star. Apparel. PHILADELPHIA, July 10.—Makers of | women’s cotton dresses are pressing production to meet the demand which | is more active than it has been for vears. Shoe sales at retail are estimated to be running 10 per cent ahead of the 1928 rate. Men's clothing is not specially active, but the outlook for Fall is declared excellent. | Chemicals. | ST. LOUIS.—The Southern Acid 4nd Sulphur Co. will put into commission within a fortnight its new acid manu- facturing plant at Bossier, La., across the Red River from Shreveport. The plant represents an- expenditure of | $300,000. Wheat. | HELENA, Mont —Hopes of a_bumper wheat,_crop like those of the last two has passed because of the lack noisture in some sections. Private estimates place the yield in the neigh- borhood of 65,000,000 bushels. RECEJVES WHEEL ORDER. NEW YORK, July 10 (®) —The Budd Wheel Co. of Philadelphia has received orders for 725 dual disc wheels with pneumatic tires from the Philadelphia Rapid Transit Co. They wili -eplace | the solid tires now on the transit com- pany’s double-decked busse: Buys California Firm. NEW YORK. July 10 (®).—The Aluminum Co. of America nas 7y chased the Modern Foundry & Patter Wor of Oakland, Calif $25,000,000 BOND ISSUE WILL SOON BE OFFERED By the Associated Press. NEW YORK, July 10.—A banking syndicate will soon offer for public subscription an issue of $25,000,000 Canadian International Paper Co. first mortgage 6 per cent gold bonds, due in 1949, The Canadian International Paper is a subsidiary of the Interna- tional Paper & Power Co. Development of the Canadian Co., to- gether with the acquisition of new properties, has been financed in the past by the parent organization, and the proceeds from the sale of these bonds will be used to repay a nortion of the advances made by the Interna- tional Paper Co. In 1928 England and Wal i 3583.000 tons of 'polatoes. neatly 500,000 tons more than in 1927. 5 CALIFORNIA PASSENGERS SAVE BY USING TOURIST CAR FROM WASHINGTON Many travelers Lo points West of New Orleans now tourist car . D. C., daily for without change. 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