Evening Star Newspaper, October 9, 1929, Page 12

12 VEGETABLE SUPPLY IS PLENTIFUL HERE D. C. Market Dealers Exhibit Large Quantities of Foodstuffs. Appearance of a few truckloads of pumpkins this morning gave the whole- sale market district a decided Fall ap- pearance, the yellow vegetable being suggestive of the approaching Halloween and Thanksgiving celebrations. “Last year,” commented a dealer, “people were virtually erying for pump- kins for the Halloween holiday season, and this year the pumpkins promise to be so plentiful that dealers will do the crying to get buyers to make purchases.” Big pumpkins, the kind used for the Halloween holiday parties, this morning were quoted from 25 to 50 cents each, while the sugar pumpkins for ples were quoted at $1.25 a bushel, or $3 a barrel. Supplies Are Large. Tmmense quantities of fruits and vegetables were piled high in the com- mission house district and along the farmers' line this morning, but buyers were reported lacking. *Slow business,” commented a dealer, “ijs a direct result of the races being held so close to the city. “People will go to the races,” the merchant added, “no matter if sub- stantial things of life have to be neglected.” It was suggested by one dealer that decreased business, resulting from the Taces nearby, means a loss to them of from $1,500 to $2,000 a day. Others placed the loss at a greater sum. ‘Three-pan crates of California toma- toes, repacks, were quoted this morn- ing at $1.50 a crate, original lugs of the California vegetable selling at $1.75 and $2. Homegrown tomatoes were offered at prices ranging from 50 cents to $1. Parsnips, received from growers in nearby Maryland and Virginia, were of- fered in two-bushel baskets at $1. Pep- pers were quoted at 75 cents and $1 a bushel, cabbage at 75 cents, and corn at $1 and $125 a sack of five dozen | ears. Commission merchants had attractive supplies of fruits of practically every variety, New York peaches, quoted at $3.50 and $4 a bushel basket, being among them. Pears, quinces, apples, alligator pears, honeydews, l-wnaymua. prunes, persimmons, oranges, grape- fruit, bananas and lemons were some of the other varieties. A continued firm condition of the butter and egg market was reported this morning, reports showing a tendency to slightly higher prices of eggs. Prices of most commodities this morning were the same as prices quoted yesterday. Today's Wholesale Prices, Jobbers” . Prices Slightly Higher. Butter—One-pound _ primts, - 47a48; tub, 46a47; store packed, 30a32. Eggs—Hennery, 48a50; sh selected, 47a48; current receipts, 42ad4. Poultry, alive—Turkeys, hens, 35; toms, 33; Spring chickens, large, 27a28; brolers, 30; Leghorns, 25a26; fowls, 28; Leghorn fowls, 22a23; roosters, 22; ducks, 15a20; keats, young, 60a70; old, 35a40. Dressed—Turkeys, 36a40; Spring chickens, large, 38; medium, 36; broil- ers, 38; thorns, 34a35; roosters, 26; ducks, 28a30; keats, 80a1.00. Meats—Beef, 20a23; veal, 26a32; lamb, 26a27; pork loins, 32; fresh hams, 25a28; fresh shoulders, 20a23; smoked hams, 26a28; smoked shoulders, 18a20; bacon, 28; lard, in bulk, 14; in pack- ages, 15. 1I:’Ave stock—Calves, 15)2; lambs, 12}; a13. 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 moderate; demand moderate, market steady; bushel bas- kets, Pennsylvania, U. S. No. 1, 2%; inches up, Grimes, 2.00; Virginia, U. S. No. 1, 275 inches up, Grimes, 2.00a2.25; few higher; unclassified, 212 inches up, fair color, 1.25a1.50, U. S. No. 1, 2} inches up, delicious, best, 2.50a3.00; few 3.25; U. 8. No. 1, 2% inches up, Yorks, 1.75a2.00; 3 inches up, 2.25a2.50; un- classified, 2% inches up, 1.25a1.50; Staymans, 1.75a2.00; 3 inches up, 2.25a 2.50; unclassified, various varieties, 2% inches up, 1.25a1.50. Cabbage—Supplies moderate; demand light, market steady; New York, 90- pound sacks, Danish type, 1.75a2.00; 100-pound sacks, Danish type, 2.00a 2.25; Pennsylvania, 100-pound sacks, Danish type, 2.00. Celery—Supplies light: demand mod- erate, market steady; New York, 2-3 | crates, early varieties, best, mostly | around 2.25; fair quality and condi- | tion, 2.00. Grapes—Supplies moderate; - demand slow, market dull; New York and Michigan, 12-quart | climax baskets Concords, U. S. No. 1, 50a55; mostly around 55; News York, 2-quart climax baskets Concords, Ni- agaras and Delawares, 18a20; Pennsyl- vania, cartons, containing twelve 2- of Eastern stock | LOREE TRUNK LINE PLAN 1S STUDIED Railroad Experts Investigate Proposal for Fifth Big Eastern System. BY JOHN F. SINCLAIR. Special Dispatch to The Star. LOS ANGELES, Calif., October 9.— Raflroad men have been busy in the last few weeks studying the plans for a fifth Eastern trunk line submitted by L. F. Loree, president of the Delaware & Hudson, to the Interstate Commerce Commission. His plans, if approved, will tie together a dozen small rail- roads in the East and partially break down other plans submitted by other trunk lines in the East. Mr. Loree's plans are paper ones. He approval before attempting to get con- trol of the several roads in his merger. e quart climax baskets Concords, 2.50a 2.75. Lettuce — Western stock: supplies light; demand light, market about steady; Colifornia and Colorado, crates Iceberg type, 4-5 dozen, 5.2525.50. Onions—Supplies moderate; demand light, market steady; all U. 8. No. 1, medium to large size; New York, 100- pound sacks yellows, 2.00a2.25; India- ana and Ohio, 100-pound sacks yellows mostly around 2.25. Potatoes—Supplies liberal; demand moderate, market steady; Maine, 450- pound_sacks Cobblers, U. S. No,, 4.25a 4.50. “Sweet potatoes—Supplies moderate; demand moderate, market steady; East lows, No. 1, 3.25a3.50. mostly around 1.00; few higher, poorer, 50c. Lima beans—Supplies moderate; de- mand slow, market weaker; East Shore Virginia, bushel hampers, 3.50a3.75 | poor quality and condition low as 3.0( | . Tomatoes—Supplies iiberal; light, market dull; 1,+bushel hampers, 75a1.00. is going at this consolidation asking| g Shore Virginia, cloth-top barrels yel- |bination of low-temperature distillation |nf coal with the generation of electric String beans—Supplies moderate; de- | current, production of gas and the mand slow, market dull; Norfolk sec- | manufacture of domestic fuel. tion Virginia, bushel hampers, green, | demand nearby Maryland, ‘This is quite a change from the usual | duced cost of power to industry. practice, Holding Company. ‘The holding com| ment used both by and the Pennsylvania to tie the! together, But it has not been alto- gether satisfactory. When the Interstate Commerce Com- mission proceeded against the Missourl, Kansas & Topeka and the Kansas City, Southern, Nickel Plate, Baltimore & Ohio and the New York Central in recent years on anti-trust complaints, the “big three” rushed pell mell to get rid of their holdings in the Wheeling & Lake Erle stock. The recent Govern- he instru- ment action forcing the Van Swering- ens’ Allegheny Corporation to trustce its Wheeling & Lake Erie stock, is an- other instance of wounds inflicted by the old Clayton act. The Pennsylvania, working through its holding company, the Penn Roa Corporation, hopes to hide behind the alibl that the rail stocks it holds are for investment purposes only. But the Government may turn thumbs down on the proposition. ‘The holding company—a popular de- vice in the merging of banks, public utilities and other vast business enter- prises—has made little progress in the railroad field, and it probably will not make real progress until its legal posi- tion is finally determined and limited by the Interstate Commerce Commis- sion tanfl the United States Supreme ourt, Packing Industry. ‘The packing industry was one of the first to dispose of its by-products scien- tifically. Twenty years ago the packer was using everything in the hog but the squeal. o Other industries are now following the example of the packer. Scientists working in the manufacturing plants of 1, /many industries are frequently finding that by-products which in the past have been thrown away are more val- uable than the main product. Such a case is found in the example of the Industrial Power Corporation of Chicago, which had a contract to sup- ply electric power, gas and steam in the manufacturing and stock yards district. It cost $40,000,000 to build a plant, which is the first comprehensive com- In this plant the low-temperature distillation of coal will not only develop all clectrical power and steam neces- sary, but there will be enough excess gas to sell to other industries. ddition, other valuable by-products, uch as tars, light olls and benzoil will be given off. The increasing use of by-product power should spell one thing—a re- \ Then, in | $h Fee Splitting. Fee splitting ot been stamped ny is t| he Van Sweringens | has inci ir roads Here is the way he explains its work- ings: The surgeon in a city lets it be known that he will give to every country doctor sending him a case & part of the fee collected from the patient, If the surgeon has an_ap- pointment on the clt{_hhurim staff, so much the better. e fee naturally,| la as the patient’s resources is as will stand. It was Dr. Willlam T. Black of Memphis, Tenn., who said recently that because of this unethical practice in a large number of hospitals not less than four out of every five deaths after operations in such hospitals can be attributed directly to the incompe- tence of the surgeon who operated. Dr. Black says that the vast ma- jority of surgeons of the medical pro- fession are g?poud to such a “racket” rocedure. Nevertheless the practice is y no means rare, A number of States have passed laws against it, but the work is done so subtly and skillfully that it is dif- ficult to secure evidence strong enough to prosecute the violators. So, as a result, the medical profession in cer- tain cities has become demoralized, the patients gouged and the life of all who | need skilled medical care in danger. | ‘Open-Pit Mining. Open-pit mining is increasing in pop- ularity. The day of the miner working | with his pick in pitgh darkness a mile | or two under ground is giving way to this new method. . During an averhge year approxi- mately 19,000,000 tons of coal, 24,000, 000 tons of copper ore and 32,000,000 | tons of iron ore are mined from the surface by the use of monster steam or electric shovels. Open-pit mining is largely a problem of the transportation of stripped and mined minerals. Up to this time steam shovels have been widely used, but electric locomotives are coming into wide use, especially in the copper and iron mines. (Copyright, 1929, by North American News- paper Alllance.) New York Central. NEW YORK, October 9 (#)—Stock- holders of the New York Central Rail- | road today were offered rights to sub- | scribe to 356,699 additional shares of | stock at $100 each in the ratio of one | h 13 held on November 19. | Real Estate Investments JAMES Y. PENNEBAKER c Cleaner,‘ more healthful HEAT at a guaranteed low price delivered with the utmost care i ARE you prepared for a hard winter? Will you enjoy that healthful warmth that reduces dangers of catching cold? 4You will—if you use “Standard” Furnace Oil—uniform, delivery after delivery. Burns® with a constant, steady fire—a constant, steady warmth. Clean-burning, too. Lesssmoke and soot. JBut more than that. At the present low prices you can assure yourself of a substantial saving in money —if you act now. JUnder the ‘terms of the “Stand- ard” Heating Plan you are fully protected against rising prices. The service is prompt. Deliveries carefully made. Our specially trained drivers and large reserve stocks assure you unfailing satisfaction. Write or telephone the address below ... . . . « STANDARD OII. COMPANY OF NEW JERSEY 241 Pennsylvania Avenue N.W. PHONE NATIONAL 9032 Nat.5291 1520 K St. N.W. All of this stock has been issued. A portion of the stock purchased by United Founders Corporation and American Founders Corporation is being offered to the common stockholders of those corporations through stock purchase rights. United States Electric Power Corporation Common Stock (No Par Value) . Carrying Stock Purchase Warrants s - New Models CHEMICAL BANK & TRUST COMPANY . NEW YORK Transfer Agents: THE EQUITABLE TRUST COMPANY OF NEW YORK HARRIS FORBES TRUST COMPANY THE FIRST NATIONAL BANK . d ! BOSTON OF BOSTON 5 THE EQUITABLE TRUST COMPANY PINANCE TRUST & AGENCY COMPANY, LTD. . OF NEW YORK, LONDON LONDON e ZI x e y The following information has been supplied by Mr. Victor Emanuel, President of the Corporation, in a letter dated October 7, 1929: g Business: United States Electric Power Corporation has been organized under the laws of the State i of Maryland for the purpose, among others, of acquiring interests in electric power and other public The Corporation is authorized to buy, sell, trade in or hold stocks and other securities of any kind, H I i ' R‘ : I i ] utility companies. dividend-paying or non-dividend-paying, and of domestic or foreign origin. The Corporation will be equipped and empowered to supply financial assistance in connection with the business development and operations of public utility companies and to supply engineering and management for companies in which it holds majority or minority control. Assets: The Corporation has assets at cost (which is less than current market value) in excess of $90,000,000. Capitalization: The capitalization of the Corporation is as follows: Awthorized 1,000,000 shares 2,000,000 shares 2,000,000 shares - ARROW The mechanical detail of Pierce-Arrow is equally of the hour. It has been re- marked that Pierce-Arrow embodies every device of proved character known to the engineering of fine motor cars. And this is particularly true of today’s Straight Eight. From the beginning, and without boast, this new creation of Pierce-Arrow Outstending Preferred Stock (No Par Value). . none Class A Stock (No Par Value).. 4 Common Stock (No Par Value). 20,000,000 shares 4,500,000 shares*® *Not including 8,500,000 shares reserved for the exercise of stock purchase warrants at $25 per share on or befors January 2, 1940, of which warrants to subscribe to 2,000,000 shares of Common Stock (non-detachable from the stock Ccertificates except by the Corporation at time of exercise) and warrants entitling the holders to subscribe to 2,000,000 additional shares of Common Stock will be issued with the Class A Stock. Certificates for this issue of Common Stock carry stock purchase warrants, non-detachable except by the Corpo- ration at the time of exercise, entitling the holders to purchase on or befdre January 2, 1940, at a pricé of $25 per share, additional Common Stock at the rate of one share for each share held. Pro s been made in certain cases for the adjustment of the stock purchase price and for the protection of all of the above mentioned warrants against dilution. The Corporation has at present no funded debt or preferred stock outstanding. - Now on Exhibit . are the Season’s Latest Style -Expressions in the New Straight Eight Line The Common Stock and Class A Stock share eqhullly share for share in all respects as regards dividends and in liquidation. Each holder of Common Stock has one vote for each share held and the holders of the Class A Stock outstanding at any time have asa clm.votinipower equal to the total votes appertainin to the remaining outstanding stock of the Corporation. The Directors may authorize the issuance of additional shares of any class without offering them to the shareholders of any class. Management: The following constitute the Board of Directors of the Corporation: ERE are the season’s offerings Chairman LOUIS H. SEAGRAVE President, United Founders Cor poration HARRY M. ADDINSELL President 5 VICTOR EMANUEL President, Albert Emanuel Company, Ine. JOHN R. MACOMBER by Pierce-Arrow—the new models de Luxe. has pfi'ered non-shatterable glass, super- cfficient brakes, easy gear-shifting, and R low gravity center. It has pioneered harmonizing of coloring and fabric, of interior and exterior. All recentcreations of famed artists in design and decoration. Harris, Forbes & Company ARTHUR C. ALLYN 4. C. Allyn and Company, Ins. CHELLIS A. AUSTIN President The Equitable Trust Cempany of New York CHESTER DALE W.C. Langley & Co. GEORGE E. DEVENDORF Vice President, American Founders Corporation CHARLES FABRI Bociéts Qénérals de Belgique, Brussels Harris, Forbes & Co., Inc., Boston s g : e = r features, since widely exploifed by Vice Presdent, Tho Equitabe Trust Company of New York contemporaries. THOMAS A. O'HARA Vice President, Albert Emanuel Company, Ine. But Pierce-Arrow adopts nothing that fails to contribute definstely to the already high efficiency of Pierce-Arrow per- formance, or the established safety and comfort of Pierce-Arrow owners. The appointments are of a character ordinarily confined to custom-built cars —andare present insuch details asspecial tailoring, hassocks, jewelers’ fitments, lighting equipment, ‘and added acces- sories of Pierce-Arrow excellence. R R All models shown are of the new Straight Eight line. All essentially of the design which sets a new fashion in fine motor cars this year with its low-swung, slender grace and rare freedom from bulk and stodginess. ERWIN RANKIN President, American & General Securities Corporation ROYAL E. T. RIGGS Seibert & Rigge BARON BRUNO SCHRODER J. Henry Schroder & Co. London C. L. FISHER Hydro-Elecsvic Securities Corporation, London E. CARLETON GI BERY s 5 Bt Funes & Comjony SN WILLIAM C. LANGLEY JOHN L. SIMPSON W.C. Langley & Co. Vice President, J. Henry Schroder Banking Carporation The management and/or the interests they represent have acquired all the Class A Stock and accom- pmfi"ng warrants, and a substantial interest in the Common Stock, for cash and/or securities listed on the New York Stock Exchange, at a profit to them, but at prices less thah quoted market prices, and have contributed over 865,000,000 of the capital of the Corporation. The organizers will g_;i | the organiza- tion and expenses in connection with the issuance of the original shares. Corporation will have no management contract, but the directors as such may receive ordinary directors’ fees. Legal matters én connection with the {asuance of thess shares Rave boen passed upon by Messrs. Seibert & Riggs, New York. ~ wi e . wfi.m‘ M H. SEIBERT There is much more to be said for the new season’s Pierce-Arrow exhibits, But it is infinitely more important that these beseen. Andsoacordial invitatiop is extended to all who admire the beauti- ful and the fashionable in fine motor cars. $2775 10 $8200 aT Burraro * Is purchasing a car from income the average allowance on a goed > y wsed car wsnally mos than covers the initial Pierce- drrow payment United Founders Corporation The Harris Forbes Corporation W. C. Langley & Co. J.Henry Schroder Bankiqg Corporatiqn A 1 C. ,MO S E S Mo To R CO. A.C. Allm. and n(p]ompmxy .. .Hydro-Electric Securities Corporation ; s Potomac 0858 (all departments), ‘American Founders Corporation ‘ 1727 Connecticut Avenue