Evening Star Newspaper, March 13, 1930, Page 12

THE EVENING STAR, WASHINGTON, D. THURSDAY, MARCH 13, 1930. SORKIS WS FORTHOUSANDSIN MANY LOCALITIES Spring Building Programs . Expected to Stimulate | ; Demand for Labor. PURCHASE OF GOVERNMENT SECURITIES BY BANKS LIKELY Expected Lowering of Rediscount Rates, May Begin With District Outside Of New York. BY J. C. ROYLE. |gold from England to this country. The officials of the British institution are | Too many of the financiers connected | ynxjously awaiting action which would with the Federal Reserve banks of the lower the New York rate to the usual country still have the viewpoint of pri- | don rate, one-half of 1 per cent below the Lon- which is the ratio usually DIVIDENDS DECLARED. lWESTERN INTERESTS [NO NEW YORK, March 13 (®).— Regul - Hidrs. g 4] Company. Rate. Am Cmth Pw $6 pf 31 Do. 1st B A. pt Do. 2d pf A. Do, Do, Am Zinc L. Ak P & L ST pt... Do. 36 pf. Bickfords, Inc Do. pf ... Booth F E & Co A’ 7! Channon Co 1st pf $1 Do. 8 senmsepens e FeasugREsts, 75 Empire_Pw 6 Island Cork Do. p King Rovaily Magnin (1) Ct Midid Ut 7% Do. of record. 13 . 18 15 15 15 TO OPPOSE MERGER By the Associated Press. YOUNGSTOWN, Ohio, March 13.— r. 18 31 22 15/ One of the bitterest battles for proxies 17|in the history of the steel industry 17| was in prospect today with the pro- 20 18| Corporation and the Youngstown Sheet 35| & Tube Co. at stake. 20 11 0 20 i3 20 0 | Directors of both concerns late yes- ‘terdly gave their approval to the con- | solidation, involving assets approach- ‘lng the billion-dollar mark, but the final decision rests with the sharply divided Sheet & Tube stockholders. | _The charter Co. makes the ratification by holders | posed merger of the Bethlehem Steel | of the Sheet & Tube | RTH CAROLINA ACTS TO STIMULATE COTTON By the Associated Press. RALEIGH, -N. C.,, March 13.—A plan for the improvement of cotton by com- munities and counties has been agreed upon in North Carolina. Briefly, it calls for use of varieties tested and found adapted, selection of | a certain variety for a certain commun- | ity and breeding of the variety through | careful selection and care of seed. | The purpose is to eliminate the ening influence of several var growing in proximity. It is hoped even- | tually to develop one or more local cot- ton breeders in each community. is from five to ten years' imprisonment. Miss McCann showed no emotion over | her conviction on the complaint of one | the failure of her firm she had’ sold $12.800 in stock owned by him without authorization and appropriated the money to her own use. time durin; ‘The _onl; the trial when At the first sign of decay come to my office. 1 will give you conscientious advice and the serv- ice of a graduate registered den- tist at lowest possible prices. Per- mit us to estimate on your dental TELEPHONE C0. INCOME. | NEW YORK, March 13.—The oper- | ating income of 97 telephone companies work. FREE EXAMINATION she lost her calm was when the ptm-? cutor told the jury she was “a thief.® She jumped to her feet, glared at hind of her patrons.that a few days before |and cried. “How dare you?" SCALP TROUBLE “My scalp trouble began with an itching and burning and scales formed. A rash broke out and every. time | combed my hair my scalp vate bankers, according to a feeling . oiniaineq apparent in Treasury Department cir-| No more gold supplies are needed olea here. They still believe they have here, whereas they are acutely needed 32| of two-thirds of the 1,200,000 shares | T 22| necessary for the merger. Youngstown | ?|and Cleveland interests, who are op- | of. prior Tien : B &% B for December, as reported to the Inter- | Munsingwear cp Bi $L7 state Commerce Commission, _aggre- | Nashua Mfg pf $1.7! as contrasted with * to start in virtually every State, is fore- + tributed to a sharp decrease in employ- | men . 192 . turing industries in December was 3.8 : start as soon as weather conditions per- | .. This, with State appropriations, would . in several years. | * unemployment. : great numbers of unemployed toward | * the Missouri Ozarks. . wheat harvest from Texas to the Red ! tinue to the apple harvests in Washing- : vest is expected to take 200,000 workers. ! due to certain changes in the Nation's : industrial structure. There is little de- : crease in production and wages are in- . machinery is replacing hand work in . textile industries. | ! taining a high level, Mr. Jones points | . steel industry, long a barometer of in- dustrial conditions generally. . :Tgng the highways is mentioned as an example of the way one industry absorbs «+ labor released by another, Mr. Jones by a lower wage scale. " By the Associated Press. . the BY FRANK 1. WELLER, Associated Press Staff Writer. A vast amount of road building, soon | seen as a substantial remedy for the | upemployment situation. | Disturbances in half a dozen indus- trial centers the past few weeks are at- | nt, inherited {rom the latter part of The level of employment in manufac- per cent lower than in December, 1928, and employes' earnings were 5.8 lower. | Highway construction is expected to mit. May Increase Federal Aid. The deficiency appropriation bill pro- vides for increases that would bring Federal aid to a total of $125,000,000. give road building its greatest impetus Prancis 1. Jones, director of the De- | partment of Labor's employment service, | sees highway construction as one of the | chief factors in prospective relief of | The employment service has started | strawberry harvests of Louisiana and | Approximately 600,000 will follow the River Valley of the Dakotas and con- ton and Oregon. The Texas cotton hi Machinery One Cause. Mr. Jones says unemployment now is clined upward, he finds, but high-speed many instances. This trend is most noticeable in the | railway, coal, steel, boot and shoe and Indication that production is main- out, is seen in reports of the iron and Absorption Cuts Wages. ‘While continued opening of new ga- es, restaurants and filling stations says such absorption is accomplished This view is backed by the Depart- ment of Agriculture outlook report, which says that with industrial activity expected to continue at lower levels than a year ago, a somewhat larger supply of labor for farm work will be available, probably at slightly lower ‘wages, during the first half of 1930. Even with the 1920 handicap the trend of employment turned upward in January and early February, Mr. Jones indical that conditions are in accord with upward course for the same months in previous years. WHOLESALE PRICES. ‘Wholesale prices in the United States last week again tended to yield, and as estimated by Census Bureau averages, were nearly 1 pericent below levels of week. W] low give the wholesale dex, based on 100 equaling average price levels of 1926, for the week and com- ble periods, and in addition, give he selling price of a composite ton of steel products for similar periods: All commodities. Week ended March 8. Preceding R | rather than by the banks. | into trade channels. porting date the Reserve banks held | to earn dividends. On the other hand,|in England and in Europe in general. t the financial position of the United States, irrespective of profits. In the first place, it is asserted that one of the primary objects which should move the Reserve banks is to check the flow of gold to this country from Eng- land. The danger of this flow has be- come_imminent with the lowering of the Bank of England rediscount rate.| In consequence it is anticipated that the | rediscount rates of the American Fed- eral Reserve district banks are likely to be lowered still further. | Do Not Fear Advance. In the past it usually has been the custom for New York to take the lead in such movements. This year it is possible that one of the other Federal Reserve banks will take the actual step. This would to a large extent remove the possibility of charges that the low- ering of rates was for the purpose of stimulating the skyrocketing of the stock market. It is quite evident that of a too sudden advance of securities in Wall Street. especially in view of the low level of prices for wheat and cotton and other commodities. | 1t is extremely likely that the lower- | survey the grave-growing provinces of ing of the rediscount rates may be pre- | Morocco, Algeria and Tunis, preliminary | ceded or accompanied by purchases of | to the establishment of grape juice| Government securities by the Federal| Reserve banks. This would tend to in- rease earnings and assets and put the banks in a better humor as to their profits. As pointed out in these dispatches, the securities purchasing committee now in reality is dominated by the board | ‘The buying | of Government securities would have the effect of diverting additional money $486,000,000 in Government securities, and it is felt in Treasury circles that this might be increased by at least $100,000,000 without endangering the balance to be maintained. Stocks as Barometer. It is emphatically denied that this program of the Government is designed in any way to boost stocks. The Treas- ury has made it plain that it is not concerned with the stock market, but the fact remains that as individuals more than one of the members of the Federal Reserve Board would feel easier and sleep better were the stock market in a stronger position. The reason for this is not any individual holding on their own account whatsoever, but be- cause they feel that the stock market is a barometer, and that a move upward would be a most reassuring indication for business in general. 1t is known here that the Bank of England, which has in reality “gone out on a limb” in lowering its rate to 4 per is not anxious to see a flow of MORE AND MORE F ROW?S the day when we select regu- lar high-quality items and re- duce the prices for FRIDAY ONLY! This time we offer: egular $1 and $1.50 On the last re- | | By the Assoctated Press. | sengers in 1929. | tons in the annual output in metallic | | mate 24,000 tons for tl 3 Federal Reserve ofcials have mo fear| e 24000 toms 108 e o e 1958 j world production. | Treasury and Federal Reserve authori-|The purchasing of additional Govern- | fes feel that their chief business in the | ment securities would work toward | | financial scheme of things is to protect | maintaining the gold status as it is at| | present through the attendant release | Pro: | of money in the United States, but this | &, probably, would not be speedy enough to_serve the desired purpose without being supplemented by the lowering of the rediscount rates. | (Copyright, 1930, by North American News- paper Alliance.) Business Notes NEW YORK, March 13.—The motor bus system operated as the Greyhound | Lines carried more than 18,000,000 pas- | The Tin Producers’ Association fore- casts a probable curtallment of 30,000 tin. A survey has revealed that the agreed reduction to date will approxi- | i | ‘The Welch Grape Juice Co. has been‘ appointed by the French government to | plants and canneries for the packing o(( fruit and vegetables grown in North Africa. ‘The Engineers’ Public Service Co. re- | ports that the electrical output of con- stituent companies for the month of February was 148,131,000 kilowatt hours, an increase of 8.6 per cent over Feb- ruary, 192 valuable adver to be loaned. at the stos once in a lifetime. Nat Cash Cred Cor ~ 30c o Dt J Wat Co 1% 'pf 1% PacificMutual Southw Beli Tel Tex Louis Power pf § er M O A 115 50c £00: DOOOOOOOOOOODODOOOHOOLOOOOOOOOOOODOOLOOOOOODY Perro_Enamel A 25¢ Nat Cash Credit pf 20c Initial Crowell Pub Co ... Otis Elevator new Reduced. Genl Bak 46 pf ... 75¢ Q Accumulated. Manhatt Mod gtd.. 40c .. Stocks. Am Comm Pow A.2):7 Q Do, E e 302% Q Nat € C Corp pf.. 3-100 sh Omitted. $1.75 Q Due Apr. 1 31isc Q Due Mar. 16 10c @ Due Jan.'§ Q Q 25 L 28 1 Canadian Loco pf.. Ohio Confection A U S Shares $5000.00 to $7500.00 for accidental death, as_stated in policy. Any man or woman, 16 to 70, can have this protection by applying NOW. Write for Full Information FREw. J. SCHAEFER CO., Mgrs. We, of course, reserve the right to select homes in which the piano: There are no strings to thi 113 13 13| posed to the merger, are reported to be 3 | in control of 500,000 shares. The stock- | holders meet April 7. 12| Eugene C. Grace, president of Beth- 33| 1enem, and James ‘A. Campbell, chair- 4| man of the Sheet & Tube board, urged | the consolidation on the ground that 30 | products of the two concerns comple- 20 | ment each other. 30| Back of the opposition is the re- 31| luctance of Ohioans to let control of jon’s fourth largest steel unit e East and the rivalry of y Cleveland _financier, | who created the Republic Steel Cor- 20! Poration. A proxy committee was formed by those sponsoring the merger. It in- 14| Cludes Samuel Mather of Cleveland, 31| John Tod and Richard Garlick of Youngstown and Campbell. At the Cleveland offices of Otis & Co. it was admitted steps were being taken by the Eaton interests to form i committ Help Yourself when your appetite falls, headaches bother you and nothing tastes good —it is time to think about cleaning the impurities out of the system. For over Fifty years Dr. Boice’s PRESCRIPTION TABLETS have been a popular and beneficial remedy for constipation. Get a 25¢ box from your druggist today. We have 57 pianos (Grands, Players and Uprights, both new and used instruments) to place in homes of Washington and vicinity, and they may be used until we need them—which will be an indefinite time. We have discontinued a number of our Southern branches, from the stocks of which many of these instruments have been selected. We have also leazed a portion of our store to the well known firm of Witt & Hamill. As a consequence our floors are crowded to their capacity. Instead of storing these pianos to depreciate in value we have priced every instrument at greatly reduced figures and any one contemplating the purchase of a piano in the next few months cannot afford to miss the opportunity. All pianos not sold outright we are anxious to place in the homes of families who are interested in owning a piano in the immediate future, and for the, g we will receive by having good families use them. Positively No Charge for Anything We ask no drayage or charge of any kind on pianos so loaned. You may call to file your request. is offer, which comes but CHAS. M. STIEFF, Inc. 1340 “G” Street N.W. (Copyright, 1930, L. C. Gorsuch) Open Evenings The Type of Chair A Man Likes The way to a man's affections is gated $23,937,908, $18,228,766 in December, 1928. The total for 1929 was $276,138,993, com- pared with $253,437.283 in 1928. VI NN RN ey auuy] T TER OURISMAN’ Fos price I8N campalzs . | WOMAN BROKER FOUND | GUILTY OF LARCENY | By the Associated Press. | NEW YORK, March 13.—Miss Mar- | garet E. McCann, the first woman to| enter the brokerage business in Wall | Street, was convicted last night by a| General Sessions Court jury on one of | five grand larceny indictments returned | against her in 1928 in the $450,000 fail- ure of her firm. She will be sentenced h 19. The penalty for the offense | Gold Crown and Bridge Work Per Tooth, $6 and $8. Guaranteed All Graduste Dentists. Hygienist and Malds in Atte Pain Preve Comfortable Offices. Ter) ment May Be Arranged. DR. FREIO Phone National 0019 407 7th St. N.W. Entrance Next to Kay's Jewelry Store Especially MS! would bleed. My hair was dry and lifeless and came out in handful ‘The irritation was 8o severe th: could not sieep. The trouble lasted nearly two years 1 sent for a free sample of Cuti- cura Soap and Ointment and it did so much good that I purchased more, and after using two cakes of | Cuticura Soap and one box of Cuti- cura Ointment 1 was healed.” (Signed) Miss Vivian Mae Hall. Rt. 2, Lebanon, Ind., April 6, 1929. Cuticura Soap, Ointment and Tal-. cum are ideal for daily toilet uses. Soap e Ointment 26 and . Taleum e, Sold Sverywhere.. Sample each frae. Address: “Gutlours Laboratories, Dept . Maiden, Mase” IERELARRRREIRNRIRLNTLE) Low for this Big Event!! : SENSEFTVENWUEUEETY ¥ A . 1928 BUICK Slandan\i 6 Sedan Nickel radiator, holst: car you may own. many _ extr be proud to e. Yy A sacril 1929 FORD OUR WAY. n is under way IKE I BARGAINS. 1926 JORDAN SED! Government official who gave careful care and garagi signs of use 1928 ESSEX SEDAN—Another selected had excellent care and is in unusually excellent condition throughout... value. I 1926 DODGE SEDAN—The price doesn't begin to indicate the value offered in this car. Good rubber and excellent gene 1926 CHEVROLET TOURING—Iere is another car that has had unusual care, it to appreciate the sacrifice at.... 1926 ESSEX COACH—Tires, motor in unusually good shape. This popula: six is a sensational bargain 1925 CHEVROLET SEDAN—Clean upholstery Fine motor and quiet trans- and new paint, missfon. Good for many thousa 1927 ditioned. Balloon Duco. tires, CHEVROLET COACH—Thoroughly con bumpers and Drive it home for only N—Was used by ahigh it the most little $229 $279 $149 ral condition 4 Door Sedan 2 Door Sedan and Coupes Famous Fisher Bodies fin- ished in lustrous harmoni: You must see $49 $69 $99 $195 L/ XX 0.0q 000 ) Qq OO0 ool upholstery and r nd miles....... good inder motors in per! ition, and over nd power. . '....J.‘J.au.-hr- ————————— 1927 NASH 2 Door Sedan through solid, bodily comfort. Give a man an easy chair and he's happy. This Karpen Chair is full of comfort and individ- ualiem and priced now at $69. ool (| ) (X 0.0 1927 CHEVROLET TOURING—Lots of de- pendable transportation. In and makes a good appearance - $159 1925 CHEVROLET COUPE—Paint, tires, uphol- stery and mechanical condition is A-1 . 7 $239 $79 $169 ey d trade-ins whe gave Bodies, Pullover Shirts and Track Pants C Three for $2 New style white shirts and fine quality fancy colored trunks—regular stock, priced special for the one day only. This car looks end, ; ook like et perfact shape and Fend e ar has all its original he e and apeed._ Tires are B ity new. Sacrifice. S 1928 Chevralet .’.q 2 Door Sedans .’.Q and Coupes 1927—CHEVROLET SEDAN—Speed, power and stamina to burn. Duco finished, body and fen- ders in excellent condition. 5 good tires 1928 CHEVROLET CABRIOLET—Just traded in on a Chevrolet Six. Body and upholstery like new. Mechanically O. K. in every respect..... 1926—CHRYSLER COUPE—Fully equipped, perfect finish and upholstery. Tires scarcely worn, Thousands of miles of troublefree ser vice for..... English Type Club Chair Choice of man good-looking uphol- 1926 FORD ROADSTER—New fenders, good tires, fine motor and quiet transmission.......ceeseees steries. 1927 FORD COUPE—One of the last Model T's. Brand new tires, clean upholstery and $ 800d finish, Good motor and transmission.... 3 are 1929 FORD TUDOR SEDAN—Thoroughly recondi- $379 rem sWRETE » SOOOO0) tioned motor; not a scratch on the body. Ford’s Pt -m"m;u OO roomiest model; plenty of space for § passengers 1926 FORD COUPE—Many months of cheap, re- Chevrolet Sales Co. liable transportation; a ar you can’'t afford to 610 H St. N.E. pass HOUSES SERVICE BUILT All Cars Over $100 ' Guaranteed in Writ- ® ing for Thirty Days! Regular $8 and $10 Wool Knickers $2.95 Two Pairs $7.50 CROSNEIRS 1325.F. STREET - -‘.-"-.-.v' NN NS Truck Delivery Within 100 Miles MAYER & CO. Between D and E on Display and Sale al 625 H St. N. E. GUARANTEED POLERVERRRT I ORI eIt >n Display Good looking patterns— new styles—all sizes in the group, but not in each style. NACOSTIA BRANCH Open Evenings Seventh Street CLRUTTRTR I neineti