Evening Star Newspaper, January 22, 1930, Page 12

A—12 “TRADING IS DRAGGY | ~ ATD. C. MARKET iflnclement Weather - Keeps | Patrons Away—Telephone Orders Increase. Unusually inclement weather this !morning affected business in_the whol sale market district, reducing the num- ber of patrons, but not the volume of Tecelpts. Much of the business with retailers, it was stated, was over the telephone. “With such weather prevailing years £g0,” remarked a dealer, “receipts would have dropped to a minimum, but rail- feread trains and motor trucks these days ~eontinue to bring commodities from all points, only extra heavy snow proving a serious interference There were many parcel post receipts of poultry from Maryland and Virginia reported “this morning, and_additional shipments of eggs and poultry arrived in motor trucks. Potato Receipts. One large truck irom the Eastern Shore of Maryland reached here early in the morning with 200 bushel baskef of sweet potatoes, being the heavies single shipment received. Anticipated Teceipts of green vegetables from Nor- folk, Va., failed to materialize, possibly because of stormy weather conditions in the trucking area of Virginia. Poultry receipts _continued fairly heavy, receipts including many turkeys, mostly alive, the increased shipments, according to dealers, representing sup- . plies held back at the Christmas holi- i dav season for better prices Receipts of Spring chickens also con- tinued fairly heavy, and egg receipis . were more than ample to meet de- mands. Current receipt of eggs this | morning were quoted at 42 cents, hen- | nery stock selling only 2 cents highe! according to merchants, dealers saying i there is very little difference between the two grades at this season. Commission merchants continued with their attractive supplies of fruits and ! vegetables. Florida oranges werc quoted | from $4 to $4.75 a box, the grapefruit . selling from $3.50 to $4.25. Lemons, mported. were quoted at $6.50. Dealers 1so had pineapples, bananas, grapes | and pears to offer the trade. California shippers supplied the { local trade increased quantities of early vegetables, including beets, carrots, peas | and turnips. Beets, peas and turnips were quoted at $4.50, carrots selling at ! $4 and $4.50. Caulifiower, also a Cali- fornia product, sold at $3. .| Eggplant, string beans, peppers, | squash and tomatoes were among the | vegetables received from Florida ship- pers. Strawberrles, also from Florida, were not in great demand, dealers re- ! ported, and prices ranged from 35 to { 45 cents a quart, with the possibility i of still lower prices before the close | of the day's market. A slight advance in butter prices was reported, prints selling at 40 and 41 and tub butter at 38 and 40 cents & pound. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, * tub, 38ad0; store packed, 23a30. Eggs—Hennery, 44; current ceipts, 42. g Poultry, alive—Turkeys, young, 30a32; old toms, 27a28; Spring chickens, large, 28a30; medium, 28a30; broilers, 32a33; fowls, 27a28; Leghorns, 20a23; roosters, 20; 15a18. Dressed—Turkeys, young, 36a38; old, 32a33; Spring chick- Iarge, 34a35; medium, 34a35; broil- 38a40; fowls, 32a33; Leghorns, 26a 27; ducks, 28a30; roosters, 28a25; ca: pons, 35240; keats, 5060. Meats, fresh killed—Beef, 20a22; veal, 28; pork loins, fresh hams, 25 fresh shoulders, 22; smoked hams, 25; smoked shoulders,’ 20; bacon, 25226 lard, in bulk, 12’;: in packagzs, 13 calves, 16%: lambs, top, 13; thin, 2. 104 % dally market report on fruits and vegetables, compiled by the Market News Service, Bureau of Agricultural Economics, says (sales to jobbers except where otherwise noted) : Apples—Supplies liberal; demand moderate, market about steady; barrels, New York, U. S., fancy, 3% inches up, Rhode Island _ Greenings, 7.50a8.00; bushel baskets, Virginia, U. 8. No. 1, 2}z inches up, Staymans, 2.00; U. 8., No .1, 23, inches up, Staymans, 2.25a2.50; un- classified, 21 inches up, Staymans, 1.75 U. 8., No. 1, 2% inches up, Yorks, 1.75 few 185; boxes, Washington, _extra fancy, medium to large sizes, Wine- saps, 3.0023.25; fancy, medium to large sizes, Delicious, 3.5023.75; mostly 3.75. Cabbage—Supplies liberal; demand moderate, market slightly weaker; new stock, Texas, barrel crates, approxi- ‘mately 100 pounds net, round type, 4.00; Florida, 1';-bushel hampers, pointed and round types, 1.75a2.25; mostly 1.75a 2.00. Celery—Supplies light: demand light, market steady: California, crates, 6.00a 6.25; 1, crates, 3.00a3.25; Florida, 10- inch crates, 3-6 dozen, 2.75a3.00; 8- dozen, 2.25. 2 Lettuce—Western stock; supplies mod- erate; demand moderate, market about steady; Arizona, crates, Iceberg type, 5 dozen, mostly 5.00; few low a: 4.75; 6 dozen, mostly around 4.00; ordinary 30a41; re- ens, ers, quality low as 3.50; California, Imperial |* Valley, crates, Iceberg type, 4-5 dozen, fine quality and condition, 5.50a6.00; Eastern stock, supplies moderate; de: mand moderate, market slightly weaker; Florida, 1;-bushe] hampers, big Boston type, 3.75a4.00: mostly 3.75. Onions—Supplies moderate; demand light, market steady; Arizona, crates. Iceberg type, 4-5 dozen, mostly 5.00; few Jower; 6 dozen, mostly 6.00; few lowe: California, crates, Iceberg type, 4-5 dozen, few sales 6.00. Potatoes—Supplies moderate; demand moderate, market about steady; Maine, 150-pound sacks, Green Mountains, U. 8. No. 1, 4.85a5. New York, 150-pound :1;‘5&‘, round, whites, U. S. No. 1, 4.60a String beans—Supplies light; demand Jight, market about steady. Florida. bushel hampers, flat typs, fair to ordi- nary quality and condition, 2.50 ! Eggplant—Supplies very ligh mand light, market dull; Florida, Ppepper crates, choice, 4.00. _ Tomatoes—Supplies light: demand Slow, market dull: unknown origin, ripes. wrapped, fan 5; choice count, Spinach—Supplies light: light, market firm; Texas, baskets, Savoy type, '1.75: fair quality and ordinary quality, 1.25a1.50. ., Cauliflower—Supplies_light; demand light, market steady; California, pony crates, 2.75a3.00. Peppers—Supplies light; demand light, market about steady; Florida, Ppepper crates, fancy 6.00a6.50; few 7.00. Peap—Supplies libcral: demand light, market about steady; Mexico, 45-pound crates, 4.00a4.25. Carrots—Supplics _ light: demand light, market dull; Texas, Western let- tuce crates, bunched, 3.75; few h'gh as demand bushe! Beets—Supplie market steady: T crates, bunched bunched, 2.50a2. Strawberries—Supplies light; demand slow, market dull; Florida, 32-quart crates, various varieties, 40a42; pony refrigerators, various varieties, mostly . 45 per quart; 25 per pint. Oranges—Supplies moderate; demand slow, market steady; Florida, boxes, No. 1, medium size, 4.50; No. 2, medium size, f,f"; large size, discounted, 25a75 per x. Grapefruit—Supplies liberal; demand moderate, market steady: Florida, bo: Ne , medium size, 4.50a4.75; No 2, jum size, 4.0024.25; mostly 4.00. light: demand light, s, Western lettuce 50; bushel baskets, me ‘The Bank of the Republic, Central Bank of Colombia, has shipped $1,046,- £79 in gold bars to the Central Hanover Tank & Trust Co., due hore January ... Last Fall the came bank shipped | vear 1929, against $10.77 in 1928. | ing Brooklyn-Queens Transit) Decem- | 3.75a | Corporation News NEW YORK, January 22.—The fol- lowing is today’s summary of important corporation news, prepared by Stand- ard Statistics Co., Inc., New York, for the Associated Press. News Trend. Report on industrial activities re- leased during the day were favorable. The stecl industry continued to show increased activity, production in the past week advancing to 69 per cent of capacity compared with 66 per cent in the previous week and 61 per cent two weeks ago. In the corresponding week of 1929, output was at 84 per cent of capacity. U. S. Steel maintained operations at about 72 per cent against 167 in previous week, 65 per cent two weeks ago and 85 per cent in like week of 1929, Car loadings of revenue freight for the week ended January 11, totaled 863,191 cars, an increase of 86,932 cars over the previous weck, but a decrease of 51,247 cars, compared with the like 1929 “week. All commodities except grain and grain products showed in- creases over the previous week, mer- chandise L. C. L. miscellaneous freight, and coal, three accepted barometers of trade and industrial activity, making the best gains. The Companies. Acme steel earned $9.30 in year 1929 against $7.95 in 1928." Stockholders ap- proved increase in authorized capital stock to 500,000 from 300,000 shares; 25 per cent stock dividend declared, and $1 quarterly dividend on stock to be outstanding after above payment. American Chicle declares extra divi- dend of 25 cents and regular quarterly payment of 50 cents on common shares. American Glue president estimates 1929 earnings at $6, against $3.26 in American Water Works & Electric December, 1929, output up 8 per cent; year 1929'up 10 per cent. Auburn Automobile earned $21.23 in elanese denies price cut of 1 shilling per pound on yarns. | Brooklyn-Manhattan Transit (Includ- | ber, 1929, net $690,971, after deducting $107,581 & Q. T. minority interests, against $673,910 in December, 1928 be- fore deduction; six months, December 31, 1929, net $3,289,509, after minority inferest ‘deduction of $561,622, against $3,106,142 in same period 1928 before deduction. Commonwealth Edison 1929 electrical | output 11 per cent above 1928. | Consolidated Gas Utilities December. 1929, balance available for reserves and | Federal taxes up 31 per cent; year 1929 up 51 per cent from 1928. Denver & Salt Lake Railway—G. H. Burr, banker, buys 20,000 shares stock of this company at $150 a share; rep- Tesents 40 per cent of stock outstanding. General Electric of Germany declares dividend of 9 per cent for 1929, against 8 per cent in 1928. Unfilled orders Sep- tember 30, 1929, aggregated 350,000,000 marks, against 485,000,000 marks same date 1928. A. C. Gilbert Co. earned $3.70 in year 1929, against $2.62 in 1928. Great Atlantic & Pacific Tea Eastern division plans no change in prices of cigarettes at this time. 1 Houdaille-Hershey earned $4.91 on | class B stock in 11 months to November 30,1929, Howe Sound earned $7.38 in year | 1929, against $5.34 in 1928, | International Telephone & Telegraph syndicate reported ready to offer $75, 000,000 4%, per cent debentures at 92. Kolster Radio receivers appointed. Nash Motors president reports deal- ers’ stocks January 1, 1930, to be 33 per cent below same date 1939. New York Edison 1929 sales (includ- ing four associated companies) up 9.8 per cent over 1928. New York, New Haven & Hartford to issue $4.454,000 equipment trust cer- tificates, which will finance 75 per cent of $6,070,046_of new_equipment. Perryman Electric Co. sales year 1929 up 67 per cent. Radio Tube sale 1929 totaled 1,142,939, against 437,500 in 8. Radio Q:rrpolfin of America nego- tiating for acquisition of Cuba Trans- .th:‘:l‘::mpmzpa l:;?fn ’tlo t Ut ni operations af Bingham, Utah, mine. ‘Western Air Express president reports large stockholders have indicated inten- tion of exchanging shares for those of . THE EVENING INSURANCE MEN GUESTS OF HONOR Local Association Entertains Agents Writing $250,000 During Past Year. The District of Columbia Life Under- writers' Association entertained at luncheon yesterday at the Carlton Hotel for those of its members who produced a quarter of a million or more of new life insurance during 1929. The mem- bers were addressed by President Harold D. Krafft of the association, and there was a discussion of a probable educa- tional system. ‘The members who attended were the following: Herbert L. Barlow, A. L. Baldwin, J. Hicks Baldwin, J. S. Bald- win, R. L. Baldwin, David S. Bethune, A. D. Carpenter, L. C. Crawford, John F. Cremen, H. R. Bryarly. G. B. Farqu- har, H. C. Fisher, J. F. Fooshe, jr.;: R. P. Freeman, L. V. Freudberg, D, Pulton Harris. Dan'J. Harrison, Wallace Hatch, K. 8. Hoffman, H. J. Jackson, Harold D Krafft, L. V. Lampson, J. A. Marr, H. B, McGuire, H. O. McLean, J. L. McEl- fresh, J. E. McCombs, W. A. Moore, jr.; W. N. Piser, P. H. Primm, M. M. Salo- mon, P. D. Sleeper, F. N. Stricklin, Frank Strunk, R. M. Stuart, L. A Smith, Horace Winter, Maj. Wither: J. C. Rundles, J. A. Kamerow, R. C. Satterfield, Harry ~Shalin, Edward Wolverton, M. I. Walter, V. F. Bourne, James A. Maloney and J. Alan Maphis. SRR % UTILITY FINANCING. NEW YORK, January 22—A new record for public utility financing is expected to be made this month. Bond issues of this classification last week amounted to more than $200,000,000, and additfonal issues Yotaling more than half this amount are due for pub- lic offering before January 31. Several railroads are seeking approval of the Interstate Commerce Commission for new bond fssues and several of these probably will be added to the month's total. BOND ISSUE AWARDED. BALTIMORE, January 22 (Special). —A group of Baltimore bankers. com- posed of Baker, Watts & Co., Nelson, Cook & Co. and Townsend Scott & Sons, was awarded an issue of $471,000 ‘Washington County, Md., 415 school bonds, maturing seri: 1954, yesterday. ‘The price was $102.06, or a 4.30 per cent basis. Alexander Brown & Sons STAR, WASHINGTON, JUNIOR BANKERS PLACED "ON BANQUET COMMITTEE President A. E. Henze of Washington Chapter, American Institute of Bank- ing, has named the full committees to arrange the annual Washington's birth- day banquet at the Willard as follows: Chairman, T. Hunton Leith, Security Savings &’ Commercial Bank; vice chairmen, Frank M. Perley, American Security & Trust Co.; Miss Lois A White, Federal-Ameri¢an National; sec retary, Miss Mabel V. Royce, Washin{ ton Loan & Trust Co.; treasurer, Rob- ert E. Lee, Lincoln National. Members—H, W. Burnside, Farmers & Mechanics' Branch, Riggs National: iss S. Winifred Burwell, National Metropolitan: W. A. Cady, American Security & Trust Co.; F. H. Cox, Com- mercial National; John M. McMarco, Seventh _Street 'Savings; Aubrey O. Dooley, Federal-American National; J. Fred English, Commercial National; Henry F. Kimball, Central Branch, American Security & Trust Co.; Robert H. Lacey, Columbia National; Miss Esther R. Lau, Riggs National; : L J. Roberts, Riggs National; W. L. Sanderson, Federal-American Na- tional; A. W, Sherman, American Se curity & Trust Co.; Robert A. Sisson, Washington Savings Bank: James A. Soper, Lincoln National; Miss Alice H. Whitton, First National, Alexandria, Va.; Robert G. Whitton, First National, Alexandria, Va.; William G. Winstead, Natlonal Metropolitan, and Miss Mil- dred C. Woodcock, American Security & Trust Co. “TWO BANKS CLOSED. COLUMBIA, 8. C., January 22 (Spe- cial). —The Bank of Hagood, Sumter County, 8. C, has been closed and turned over to the State bank examiner. Officers of the bank, capitalized at $10,000, said directors had decided to liquidate and discontinue business. First National Bank of Bishopville, has been closed by order of 8. C. directors. STOMACH TROUBLE ACIDINE ‘When sourness, gas, sick headache, vomit- ing and acid eonditions leading to eolds, sore throat, acid rheumatism and acidosis bother you TAKE THIS PERFECT ANTI-ACID AND DIGESTANT. It's marvelous. Don’t give up hope of being healthy until you have tried ACIDINE. submitted the next highest bid, $101.73, with the Baltimore Co. third, $101.26. for suggestions. Aero Corporation of California. 2 Associated ] i un T 61 Broadway gk Gasand In n;sz%LfI‘/J S Record of Achievement Wears oftgrawihii . 7. d it uis New customers added through normal growth since 1920...... Total customers served.......... New construction expenditures 1925-1929 $166,000,000 New construction budget 1930.......... *Gross eamings over..........~...i... *Increase over previous year over i *Net earnings over. . .. *Increase over previous year over. ..... TotalARSels. ... . ..ot ity doiein oy $15000,000/000 Investors added during 1929............ Total Registered Security Holders. .. .... *Same properties entire period 12 months ended Novermber 30, 1929. Incorporated All Oier Washington “Murco” Paint Products in all their gay colors are so easy to use... u‘flurnble...so economical, that they are alWays first choice with those who like to get their money’s worth! Ask our experts EJMurply @ INCORPORATED . 710 12th St. N, W. 3 National 2477 ectric ® Your druggist hasit and we both guaran- tee it to fit your case or money back. you'll find homes where “Murco” paint products keep every- thing bright and cheerful! ystem ‘ 78 675,000 1,350,000 $36,000,000 $100,000,000 sy IOl $50,000,000 16% 120,000 186,332 Subscriptions to Associated Gas and Electric Company $8 Interest Bearing Allotment Certificates are now being received. They are $120 each with *Rights” which expire February 17th. Through conversion after July 1, 1930, they present an oppor- tunity to partficipate in the growth of the Associated System. Associated Gas and Electric Securities Company New York, N. Y. D. C., WEDNESDAY, 100 LARGEST BANKS SHOW GREAT GAIN Mergers Play Part in Increas- ing Deposits of Big In- stitutions, Special Dispatch to The Star. NEW YORK, January 22.—The hun- | dred largest banks in the United States reported_aggregate deposits as of De- cember 31 of $21,839,462,069, according to a compilation prepared by the Amer- ican Banker. This figure represents a gain of $1,195,843,969 over the deposits Teported by the 100 largest banks at the end of 1928, Total capitalization of these 100 | banks at the year end was $1,381, 789,000, compared with $1,066,080,1 the previous year and $705,149,990 at the end of 1924. Total surplus and undivided profits at the end of 1929 came to $2,187,469,235, against $1.722,- 964,371 a year ago and $1,069,997,622 five years ago. The many mergers which took place in the banking field last year have up- set former lists of the 100 largest banks, the American Banker points out. The present compilation is the first to show the effects of this merger movement upon the comparative ranking of the| banks. ‘The institutions are placed accord- ing to the size of their deposits. As & result of the mergers New York City has only 23 banks in the list. compared with 30 last year. The fir: JANUARY 22, 1930. however, the National City Bavk, the Guaranty Trust Co. and the Chase Na- tional Bank, are New York City banks and 7 of the first 10 are banks located in New York City. Six new cities are represented for the first time on the lis ey are Syra- cuse, Atlanta, Oklahoma City, Dallas, Toledo and Seattle. MACHINE TOOL DEMAND SHOWS IMPROVEMENT Special Dispatch to The Star. NEW YORK, January 22.—A good vol- | ume of inquiries in the market for ma- chine tools and machinery continues as the principal sourc: of business optimism among manufacturers and throughout the country, American Ma- chinist reports. Orders are increasing gradually, and delveries, likewise, show definite ‘improvement. Business booked in the past week was mainly for single 33| items for replacement. Prices generally remain unchanged, despite an isolated increase reported here and there. Purchasers of machinery in the past| week were scattered as to industry and requirements. New York dealers re- ported inquiries from Westinghouse and General Electric and one inquiry on the way from an ofl company for a $100,- 000 list of tools. According to reports from the capital of the American motor industry, employment in Detroit auto- mobile plants is picking up, and, in con- sequence, dealers and manufacturers of machinery in this section are beginning to recover from the oppressive gloom which has been theirs for several months. Inquiries from railroads characterized the Chicago market in the p: dealers | day period. Railroads were likewise the principal machine tool buyers in the Canadian markets, while nearby Buf- falo reports increased steel mill activ- ity. Cincinnati_business showed slight | improvement. Sluggishness is evident in the Southern district, although the small tool market there is flooded with inquiries, quiet and pri Bourse today. dollar was centimes. PARIS BOURSE PRICES. PARIS, January 22 (F).—Trading was ices were steady on the Three per ceat rent 88 francs 90 centimes. Five per cen loan, 106 francs 20 centimes. Exchange on London, 123 francs 92 centimes. The quoted at 2§ francs 263 Bring This Assistant Into Your Office OU'LL find a Stowe & Davis desk keeps everything at your finger tips. So conveniently ar- ranged. . .aplace for every. thing...and everything in its place when these mod- ern desks are in your office. And what a hand- some, well designed desk is the Stowe & Davis! How they impress your custo- mers with their dignity and ele- gance. 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