Evening Star Newspaper, January 31, 1930, Page 16

‘... Indiana, fancy, 5.00; No. 1, 4.5024.75. RS POULTRY RECEIPTS | SHOW SLIGHT DROP D. C. Wholesale Market Deal- ers Welcome Change to Warmer Weather. Sunshine this morning was given a Thearty welcome by dealérs in the whole- sale market district. Much of the huge piles of snow in evidence yesterday had been removed, making it much easler to move trucks with commodities to be aelivered either at wholesale houses or to retaflers. Heavy snow in the Norfolk, Va., sec- tion resulted in decreased receipts of greens from that section. It was re- ported that the fall there amounted to 8 inches, making it impossible for pro- ducers to do any gathering, and motor trucks due here this morning are likely to_be delayed several days. Dealers had supplies of spinach, col- lards and kale on hand, however, but not in large quantities. Spinach was quoted at $1.75 a bushel, while collards sold at $1. Kale was quoted at $2 a barrel. Other Vegeiable Supplies. Other varieties of vegetables, mostly shipped-in stock, were in supplies equal to demands at prevailing prices. Few lima beans, product of Florida growers, were to be had around $8 a crate, the high price resulting in retailers being | forced to sell at about $1.25 a quart. California peas were quoted at $5 and $6 a crate, peas from Mexico selling around $4. Light supplies of most va- rieties of vegetables were reporved, prices continuing at about the prices quoted the past few days. Honeydews, new stock, product of California growers, have appeared in the local market. Receipts have not yet been very heavy, dealers reported, and the demand for them is not brisk. ‘They were quoted at $6 a crate this morning. ‘The storm has not had m]:ch we{;fi u) the egg market, according Terhings Teports, end. denless’ think there will be no appreciable scarcity of the product of the hennery. “There are plenty eggs in the coun- try,” remarked a dealer, “and any decrease in receipts from nearby may easily be met with supplies from more distant points.” Prices reported this morning, repre- senting prices paid producers, were 36 and 37 cents for current receipts, and 37 and 38 for hennery and selected stock. Jobbers' prices were 2 or 3 cents higher. Meat and poultry prices continued unchanged. Poultry receipts were a trifle lighter, dealers reported, but there 'was no scarcity of any variety, receipts being ample to meet demands. Marine products were in demand this morning. Fsozen fish were plentiful enough to supply demands, while fresh fish were scarte. There was the usual increased Friday demand for oysters re- ported, receipts of bivalves not being very heavy. Today’s Wholesale Prices—Jobbers Prices Slightly Higher. Butter—One-pound prints, 42a43; tub, 41a42; store packed, 25a30. n'p—nexmery, 38a39; fresh selected, 38a39; current receipts, 36a37. Poultry, alive—Turkeys, young, 32a 33; old, 27a28; Spring chickens, large, 28a30; medium, 28a30; broilers, 32a33; Leghorns, 28; fowls, 28a30; roosters, 20; ducks, '15a18. Dressed—Turkeys, young, 36a38; old, 32a33; Spring chickens, 35a 37; , 38a40; Leghorns, 36; fowls, 30a32; roosters, 22a23; capons, 35a40; ducks, 28a30; keats, 50a60. Meats, fresh killed—Beef, 23a25; veal, 28; pork loins, 28; fresh hams, 25; fresh shoulders, 20; smoked hams, 25a 27; smoked mm 22; h-con.lfl’E;M; lard, in bulk, 125; 3 3 Live stock—Calves, 17; lambs, 13, Gruit and Vegetable Review. ‘The daily market report on fruits and 'vegetables, eamgued by the Market News scrvlce.” IIX‘:!I t:‘t, ?‘bflcu.lturfl Economics, says (sales jobbers ex- cept where otherwise noted) : Apples—Supplies moderate; demand slow, market steady; barrels, Virginia, unclassified, 2'; inches up, Yorks, 4.50; boxes, few ;Wi n, medium | to large sizes, extra fancy Romes, 2.75a 3.00; extra fancy, large sizes, Staymans, 2.75; extra fancy, medium sizes, Stay- mans, 3.00a3.25; bushel baskets, Virginia, U. 8. No. 1, 21, inches up, Yorks, 1.50; unclassified, 2}2 inches up, Black Twigs, 1.40a1.50; few U. 8. No. 1, 3 inches up, Sta fine quality and . condition, 2.75; U. 8. No. 1, 2%-2%; inches, Delic- ous, 1.50; U. 8. No. 1, 2% inches up, Delicious, 2.25a2.50; mostly 2.50; Penn- syl U. S. No. 1, 215 inches up, Yorks, 1.40; U. 8. No. 1, 2% inches up, Y atbage uppiies ligh a! upp] t; deman moderate, market fim; Florida, 1l5-| bushel hampers, pointed type, 2.00a2.25; mostly 2.25; old stock; supplies light, demand moderate; market steady; New ’Yg‘l;k, 100-pound sacks, Danish type, Celery—Supplies moderate; demand light, market steady; Florida, 10-inch crates, 3 dozen, 2.75a3.00; 6-dozen, 2.50a2.75; 8 dozen, 2.00a2.25; 10 dozen, 175a2.00. 1 Lettuce—Supplies moderate; demand light, market steady. Arizona, crates Iceberg type, 5 dozen, 4.75a5.00; 6 ; dozen, 4.00a4.25; ordinary quality, 3.50. California, Imperial Valley, crates Ice- | berg type, 4-5 dozen, 5.50. | Onions—Supplies light; demand light, market steady. New York and Michi- gan, 100-pound sacks, yellows. U. S. No. 1, medium to large size, 2.25; some ! fair quality, Michigan, 2.00. Potatoes—Supplies moderate; demand moderate, market about steady. Maine, 120-pound sacks, Green Mountains, U. 8. No. 1, 3.85a4.00; 150-pound sacks, Green Mountains, U. S. No. 1, 4.90a 5.00; New York, 150-pound sacks round whites, U. S. No. 1, 475. Michigan, 150-pound sacks, Russet Rurals, U. S. No. 1, 4.75; Idaho, 100-pound sacks, Russet Burbanks, U. 8. No. 1, 3.75. Sweet potatoes—Supplies moderate; demand light, market dull. East Shore Maryland, bushel hampers, yellows, No. }.2;,40!1,50; white yams, No. 1, 1.00a String beans—Supplies light; demand slow, market dull. Florida, bushel hampers, green, mostly ordinary qual- ity and condition, wide range in prices, 1.5023.00; 3;-bushel hampers, green, fair quality and condition, 3.00. Eggplant—Supplies light; demand | slow, market slightly weaker. Florida, pepper crates, medium size, 4.00; large size, fair quality, 3.00a3.50. Cucumbers—Supplies light; demany slow, market dull. Very few sales. | Spinach—Supplies light; demand t, market steady: Texas, bushel| baskets, bunched. 1.75a2.00. Cauliflower—Supplies light; demand light, market dull; California, pony crates, 2.25a2.50. Peppers—Supplies ~ light; demand slow, market slightly weaker; Florida, pepper crates. fancy, 5.50; choice, 4.50. Peas—Supplies moderate; demand light, market about steady; few sales; Mexico, 45-pound crates, 4.50. Carrots—Supplies light: lemand light, market firm; Texas, Westein let- tuce crates, bunched, 3.75; New York, 100-pound sacks, cut, 2.00. Beets—Supplies light; demand light, market steady; Texas, Western lettuce crates, bunched, 3.50a3.75; bushel bas- kets, bunched, 2.40a2.50. Strawberries—Supplies moderate; de- mand slow account weather, market slightly weaker; Florida, pony refrig- erators, Missionarys, 65a70; few 75 quart; 32-quart crates, various varieties, Practically no sales. Oranges—Supplies moderate; demand light, market steady; Florida bo: No. 1, medium size, 4.50a4.75; No. 2, NEW BOND ISSES N LARGE SUPRY Average for List Declines Slightly During Month as Offerings Gain. Soecial Dispatch to The Star. NEW YORK, January 31.—The first, month of the new year in bonds was distinctive for the volume of offerings by _corporations rather than for any definite improvement in the price trend. In fact, old issues were de- pressed both by the amount of new ones coming into sight and their more at- tractive terms afforded to investors. This resulted in a shifting on ‘a con- siderable scale. While this was in prog- ress the average of the domestic bond list declined nearly a point from the level to which it had advanced in De- cember. Until the new financing again as- sumes moderate proportions there will be a conflict between syndicated bonds and those that have been long dis- tributed and easier money conditions will not have their full influence on values. After a famine in the invest- ment field has come the usual flood of securities with underwriters again com- peting with each other for attractive bonds. The shelves of dealers long bare are beginning to fill up once more. The policy of those sponsoring new is- sues has been to make them so at- tractive in price and yield that there will be no question of their success. ‘The bonds had to go if the market was to be dragged out of its rut. This explains the price of 99!% fixed on the $150,000,000 of American Telephone & Telegraph 5s of the same issue that previously had been selling at 104; also the quotation on others which was well below that of companion bonds. The strategy of the situation was the re- | verse of two years ago when new issues were priced above old issues instead of below them and went stale. The public then was shrewd enough to see that it was being asked to pay a pre- mium for the same securities that it could buy at a discount. Character of Demand. ‘The demand for both old and new bonds has so far been an institutional one. The general public has not been an important buyer, for it is still in- volved in the stock market as a holder of securities on which there is a depre- ciation or else it exhausted its funds in buying stocks in the breaks of Octo- ber and November. It will be some time before this element becomes a source of support for fixed interest ob- ligations. The institutions, however, have been building up their reserves since the middle of November and are now in a position to consider attractive offerings. Life insurance companies were the largest single participants in the American Telephone & Telegraph issue and in several of the smaller high- grade public utility offerings that fol- lowed it. The savings banks have ex- perienced an increase in their deposits since the drain on them ended late in November and have been able to repur- chase some of the bonds which they were forced to sell when the public r‘as withdrawing funds heavily last Au- umn. There is a marked contrast in the character of new financing at the present time. The greater part of it is in bonds, whereas last year it was in st . Again most of the bonds have been either straight debenture or mort- gage issues with no warrants or con- vertible attachments. During the period of four weeks in which municipal and corporation bonds totaled between $650,000,000 and $700,000,000 there was no common stock issue of importance. Neither has there been much employ- ment of preferred stocks as vehicles for financing in spite of the fact that the average advance in senior shares has been greater than in domestic STEEL cuT COFFEE{. st ooy m.mmwl"m } VR EECO Il i ¢ i "II{W” BRAND "1;!!};}’&':, [ 3 te i 100% Pure Coffee ALL THAT COFFEE SHOULD BE THE EVENING STAR, bonds and in almost all cases the gains of preferred stocks from their November vesting public elther wants ut- either wants an out- and-out H:qnlty" or a strictly mortgage or debenture type of security, and per- sistently overlooks the income advan- to be obtained in this intermediate Oversupply. The chief deterrent to a general im- provement in bond prices is that of oversupply, which in the end will be regulated by demand. There are a great many new issues pressing on the market. far been brought out represent new capital. " It is too early for much re- funding, as very few 5 per. cent or 5, per cent issues can be sold around par. Later we shall probably come into a period when some of the 6 per cent bonds outstanding will be retired in favor of lower coupon issues and opera- tions that were postponed in 1928 will be resumed. This assumes that money rates will continue easy under the in- fluence of a deflation in stocks and ab- normally low demand for business re- quirements. One of the problems of the situa- tion is the position of the banks of the country, which in the past have ab- sorbed & high percentage of new offer- ings. While they will take issues that promise an immediate premium, such as the American Telephone & Tele- graph bonds, they will hesitate to buy others so long as their loans on se- curities are at the present high level. ‘These loans are being liquidated slowly. They represent a commitment that may keep the banks out of the bond market for many months. The pur- chasing power controlled by the invest- ment trusts and trading corporations is still high in spite of the reduction in their call and time loans since Oc- tober, but they are quite generally com- mitted to common stock investment program. If they enter the.bond mar- ket at all it will be as they find high yields and prospects for appreciation. ‘These elements are more likely to cccur in_foreign than in domestic issues, The foreign market has recovered Sunshine Bakers carefully guard the delicious taste of these crisp, flaky, crackers from the ovens to your table. Around this big, economi- cal, family caddy, they put a Most of them that have so | discor WASHINGT on the average than the domestic market and has been conspicu- nisly strong in some sections. With the Y&m. plan adopted and preparations 10W going forward in behalf of the first portion of the reparations loan it would not be surprising to see an advance staged in those dollar issues whose market must be the gauge of the new loan. Already there are signs of this. More will become apparent before Spring. While South and Central American issues have acted badly and also those of German municipalities and corporations and various Eastern European obligations have sold at heavy unts from their initial prices, it will be found that the older and higher credits of Europe and South America | t] came through the market erisis in about as satisfactory a way as any group of securities listed on the Ameri- can exchanges. Those who have held them for several years could today realize substantial profits on them. During January the market for gov- ernment issues has been quiet and somewhat lower. Corporations which bought them to make the first use of funds they had . in the call money market have since sold. There has also been liquidation by individuals who after November were looking for the highest factor of safety, but have since been seeking higher yields than those available on United States bonds or notes. (Copyright. 1930.) STOCK ISSUE VOTED. NEW YORK, January 31 (#).— Di- rectors of the Pacific Telephone & ‘Telegraph Co. have voted to issue $87.- 500,000 in additional stock. The basis of the offering to stockholders has not been determined. RAIL INCOME LAB—GEB.. NEW YORK, January 31 (P)—De- cember net operating income of the Atchison, Topeka & Santa Fe was $3,312,880, against $5,927,638 in the same month of 1928. For the entire year the same item totaled $68,652,330, compared with $55,332,525. sturdy waxed wrapper that FROM THE THOUSAND WINDOW BAKERIES of Loose-Wiles Biscuit Co. O 8 Tests wry day Guarantee to You the Splendid Quality o¢ JACK FROST— SUGARS D. CONSTRUCTION WORK AT STEADY LEVELS By the Associated Press. NEW YORK, January 31.—Activity in heavy construction and en for at steady. leves, Engincering News Rec at steady, levels, eering News Rec- ord reports today. The value of con- tracts placed in the past were set at $49,282,000, which compares with $49,- 223,000 in the preceding week and $52,- 002,000 in the corresponding week last year. “Comparison with the previous week and with the like period a year ago,” he report states, “reveals a fairly eve rate of activity in all classes of engi- | neering construction and a slight gain in street and road construction, “Large awards for the week included a $3,500,000 bar mill, to be built in Detroit by a steel company; construc- tion of 31 coke ovens in Pueblo, Colo., at a cost of $1,000,000, and a $1,000,000 garage in Chicago, Il “Grouped according ‘to classes, con- tract lettings were valued at the follow- ing sums: Commercial buildings, $18,- | 852,000; industrial buildings, $7,540,000; streets and roads, $7,139,000, and other engineering construction, $15,751,000. “Since January 1, heavy construction and engineering awards announced throughout the country amounted to $238,002.,000, complfl;lg with $396,833,~ 000 in the same period last year. ‘WILL RECOMMEND LEASE. NEW YORK, Janwary 31 (#).—Di- rectors of the Pennsylvania Railroad and the Western N. Y. & Pennsyl- vania Raliroad, have agreed to recom- mend to stockholders that the latter road be leased to the Pennsylvania for 999 years, the Pennsylvania to pay an annual rental equal to fixed charges, taxes and dividends of 5 per cent on the preferred stock and 6 per cent on the common stock. sheds moisture like water off a duck’s back. No wonder that thoughtful housewives make sure to say Sunshine Krispy Crackers to their grocers. Brazil has passed laws discouraging exploration on government-owned land. And how else can continued uniformity, purity and absolute cleanliness be assured? When millions of pounds of sugar are being refined daily—with huge machines whirling and whirring it through the many refining processes—tests, many continuous tests, must Syrup FILTER Press In refining Jack Frost Suger the syrup must pass through huge filter presses for fur- ther purification. Every Sip Delicious This Is the Jack Frost Package. Blue and white. E distin- be made each day to guarantee PURITY—QUALITY SUPERIORITY These tests are made to maintain stand- ards and hence when you buy JACK FROST SUGAR IN THE BLUE BOX you know the distinctive trademark Is your absolute guarantee of PURITY — QUALITY — SUPERIORITY There's A Jack Frost Sugar éunulmd fectioners JAck FROST SUGAR MELODY MOMENTS ~—brought to Jou 3 svy| hursday Chain, 9:30 Eastern Standard Time. Refined by The National Sugar Refining Co. of N. & For Every Purpose Powdered Tablet wn (in distinctive brown packeges) PREFERRED BY PARTICULAR Hous:m Sold by ell dealers that feature quality products FRIDAY, JANUARY 31, 1930. ESTABLISHED 1859 [P WAERE EcoNoMY Rus” ) Del Monte Sliced and Melbe Halven and Libby’s DE-LUXE PEACHES 2= Cans Fancy Creamery Butter. .........." 45¢ Sunnyfield Print Butter. .. ........." 49¢ American Cheese................™ 35¢ Encore Macaroni and Spaghetti. .2 Pks> 15¢ Campbell’s Cooked Spaghetti. ... ..*n 10¢ Quaker Maid Oven Baked Beans.3 cans 25¢ 49¢ Van Camp’s Bean Hole Beans. . .2 cans 25¢ Post Toasties .............. .20k ]5¢ Post Bran Flakes. . A&P Quick Cooking Oats. . . . Quaker Oats, Quick or Regular ™. 10c, 25¢ The Largest Selling High-Grade Coffee in the World 8 O’CLOCK COFFEE . 25¢ Aunt Jemima Buckwheat Flour. .. .rks 14¢ Sunnyfield Pancake Flour. . ... .3 pkes 25¢ Crane Cone Honey............ .come 30 Sultana Maple Blended Syrup. . .. . cruet 14¢ Bokar Coffee. ...... %-Mb.can g, 1b. 350 Wilkins Coffee. ... ... %-b pks 20c; b 39 Maxwell House Coffee........ . cang3e Bulk Only PURE LARD Boscul Coffee................... 45 Educator Toasterettes. . ...... ™" vks. 25¢ Cape Cod Cookies, Vanilla only. . . .7k 15¢ Swansdown Cake Flour. ..., ... .r% 32¢ A&P Fancy Quality Apple Sauce.2 cams 25¢ Flour. . . 12-1b. bag 49¢; 24-bag 98¢ Royal Baking Powder. . .. .. .. 4ot 17c | 2 w 25¢| IN OUR MEAT MARKETS Fresh Killed Roasting and Stewi CHICKE NS 182 37C » Nothing is ever mofe satisfying nor tasty than a delicious meat, deliciously Baked or stewed chicken. Why not serve one for Sunday, when every one is home? Plate Stewing Beef........"™ 18c Breast Stewing Lamb. .....™ 18¢ Fresh Ground Hamburg. . . .™ 30c End Pork Cheus..........™ 25¢ Shoulder Veal Chops. ....." 39¢ Loin or Rib Veal Chops. . . . .™ 59¢ Wildmere Brand FRESH EGG Carton of 12 47¢ FRESH FRUITS & VEGETABLES JUICY FLORIDA ORANGES | 15 Tender Green Spinach 21s.25¢c White Naphtha For the regular price of a dozen or 7 for the price of 6 29¢, 39c 49c¢, 59¢ Thin Skin Lemons. . . ....%™ 35¢c York Imperial Apples. . . .4 ™ 25¢ Idaho Potatoes. .........5™ 25¢ Yellow Onions. .........4™ 15¢ Fresh Green Peas.......2 ™ 25¢ White Turnips..........6 ™ 25¢ [ P&G SOAP 7 .. 25¢