Evening Star Newspaper, March 20, 1930, Page 12

SENATOR CAPPER —will deliver a message of interest and importance to the housewives of Washington—one that will open your eyes to the existence of a situation of vital importance to you, your family and your neighbors. Tune In ON STATION WJSV Friday Night, 7:30 P.M. Support Home Industry Del Monte Cherries OR‘ Fruit Salad WISE BROS. Strictly FRESH COUNTRY Better Jar FOR GELFANDS Mayonnaise Pint Jar STATE BUTTE MIL No. 1 Fancy NEW EQ??'S POTATOES CHEVY CHASE DAIRY 8c ™ 15¢ @ Fancy Green CALIFORNIA PEAS IN THE POD — N | of labor. B. & M. FISH FLAKES . 98:15¢c SEA GARDEN SHRIMP................7 33¢c FANCY CRAB MEAT ...... 39¢ WHITE STAR TUNA FISH. 23c IMPORTED SARDINES .. 25¢ CANNED MACKEREL .. 25¢ COFFEE A NEW ORIENTA, Ib. 43¢ LOW PRICE MAXWELL HOUSE. .. .Lb. w. 43¢ | YELLOW W 42c (BAG 306 FRESH FISH (50 Priced Right STORES MEATS Fancy Rib Roast...."™ 38¢c Chuck Roast ......."™ 28¢ Slloulder [I:mb S isiaia .“' 22: The Very Finest Breast-o-Lamb ...2 ™ 2 Sagadih ... ~35c| ' 33c zen, FRYING | KEYSTONE CHICKENS MACARONI—SPAGHETTI OR NOODLES w55c | 3 e 23c Hot House Mushrooms . 2o Can 14c Campbell’s Pea Soup B i Campbell’s Tomato Soup .. B Campbell’s Soups (Al Other Kin ol he Franco-American Spaghetti ..... e Fountain Brand HAMS Small 2 for 25 Laerei23C . CERESOTA GOLD MEDAL CORN FLAKES 0] R POST TOASTIES BROOMS Regular $1.00 Value @ o 19¢ FLOUR :2u: 35 KIRKMAN STRAWBERRY SOAP | raseairey 4 Cakes | PRESERVES Apple Butter............32 = * 23¢ Fancy Applesauce...........2 ™" Seeded or Seedless Raisins. . . . .. e %gg " 19c Pitted Dates. Phila. Cream Cheese. ........2 ™™ 25¢ Wise Bros. Cottage Cheese....2 ™™ 25¢ GULDEN'S Mustard THE EVENING IAUTOMOBILE AIDS MOBILITY OF LABOR ] i | | | Industry, ‘While Seasonal, Provides Locomotion for Thousands of Workers. ! BY LEMUEL F. PARTON. Special Dispatch to The Star. DETROIT, March 20.—While ma- chines may bring about unemployment, | they sometimes provide their own cor- rectives for the evils they create. The increased mechanization of automobile labor is responsible for a full share of unemployment, but it is the automobile which suddenly has given large groups of labor mobility which it never had before. According to John Lubbock of the | Detroit Employers’ Association about half of the 150,000 Michigan workers who lost their employment last Winter have left the State.' Thousands have [traveled by automobile, many to the Southern States or States along the Mason and Dixon border. Importance of Flivver. In all the discussions of “tech- nological unemployment” by President Hoover's commission the lack of mobil- ity and adaptibility of labor, particu- |larly as evidenced in the coal mining trades, has loomed up as a baffling and | so far unexamined factor. In one sense | automobile manufacturing is a seasonal | industry. Buying starts in the early | Spring and declines in the Fall. It was the flivver which took the wind out of the I. W. W., confined mostly to sea- sonal industries, and now it is the auto- mobile which is at least lancing the boil in this focal center of unemploy- ment, with a new and bigger seasonal | industry now on the map. Neither State and Federal bureaus nor industrial organizations have ade- quate stetistics or practicable plans in- volving the new factors in industry and employment. The Employers’ Associa- tion here puts the Wayne County unem- ployment figures at 35,000 e labor unions make it 250,000. Department is represented by a single volunteer official, with no staff or means of gathering information. There is no correlation of State and Federal agen- cles with either industry or labor in a search for information or a program. Eugene J. Brock, commissioner of labor for the State of Michigan, was | asked whether he knew of any hopeful |official investigation of unemployment | caused by the increasing mechanization | Conflicting Reports. | “We can't even get dependable sta- | tisties to show us what is happening,” | he said, “and there is now no machin- | ery, either State or Federal, to correct | N\ Roughly, employment, production | N and income in Michigan are just about | N\ it. 50 per cent of what they were a year a | steadily and constantly expanding for position to meet the suddenly height- ened season demand and steadily to take care of replacement. It has thus had to consider normal plant and normal | productivity, ‘The tempo of production has been steadily increased, with _continually more use of machinery. This means constant displacement of workers. “This mechanization, plus a much assignment of a simple, mechanized task to a single person—must lessen the demand, for many of the old skills and | many of the highly trained craftsmen | will be on a level with virtually un- skilled labor.” (Copyright, 1930.) MACHINERY BUYERS ARE MARKING TIME Spectal Dispatch to The Star. NEW YORK, March 20.—Machinery and machine tool market centers throughout the country report an un- changed situation, with purchasers plac- ing orders only for immediate needs to carry on production, American Machin- ist_reports. Word received in the past week in- dicates that, while the tone of the mar- ket is showing progressive improve- ment, buyers everywhere are pursuing a “watchful waiting” policy, pending an easing in general conditions. Present business in the New York area is originating chiefly from bulld- ing activity, structural and subway construction. Opinion among dealers is general that the situation today looks considerably brighter than it did several weeks ago. Small machine shops are placing the bulk of orders in the New England dis- trict. Bookings are mainly for single units and small items. Railway equip. ment orders are being received in in. ereasing volume in the Canadian mar- ket and the next six months are ex- pected to bring a substantial improve- ment in machinery business there. Agricultural implement and tractor manufacturers are the principal pur- chasers in the Chicago area, with in- quiries and orders mainly for single items. Demand is reported fair in the Cincinnati district, with single tools predominating in orders placed. Based on the number of inquiries from Texas, pending business in the | South is promising, but market condi- tions at present are reported quiet. Rallroads there have already filled their needs, and little activity is expected from that quarter for an indefinite time. NEW YORK, March 20.—The follow- corporation news prepared by Standard Statistics Co., Inc,, New York, for the | Associated Press: News Trend. Bureau of Labor’s February com- modity price index, based on prices of 550 commodities, stands at 92.1, a de- cline of 1.3 points from January, 1930, and the lowest point reached since 1916, with one exception, January, 1922 Compared with February, 1929, the in- dex has declined about 4.75 per cent. Outstanding items in the corporation news of the day are the announcements of dividend omission or reduction by Ken-Rad Tube & Lamp, United States Bond & Mortagage (New York) and Keystone Steel. Report that merger negotiations were pending between Stutz Motor, Gardner Motor and Moon Motor has been denied by the president of Stutz Co. Dollar Steamship Line: are reported to have reached a tenta. tive merger agreement with Hawalia Steamship Co. The Companies. Allis Chalmers Manufacturing obtains contract for first generating unit of In Detroit the United States Labor |N go. “The automobile industry has been [N many years. It has to keep itself in & [N plus seasonal demands. (R greater division of labor—that is, the | N ing is today’s summary of important STAR, WASHINGTON, months to February 28 up 27.3 per cent from corresponding previous period. Ken-Rad Tube & Lamp omits class A dividend due at this time. Last pay- ment, 373 cents, paid January 1, 1930. Keystone Steel & Wire declares quar- terly dividend of 25 cents on common shares, placing stock on $1 annual basis, against $2 formerly. Loft, Inc., Guth-Carkner group elects new board of directors at annual meeting. Rike-Kumler Co. earned $3.76 on common stock in fiscal year to January 30, 1930, against $3.85 in fiscal year to January 30, 1929. Sheaffer Pen earned $7.75 on common stock in fiscal year to February 28, 1930, against $6.08 in like previous fiscal year. Stutz Motor Car president denies re- ported merger negotiations with Gard- ner Motor Car and Moon Motor Car. United Aircraft & Transport unfilled orders December 31, 1929, was $10,783,- 782. Since first of current year new orders amounting to $5482,960 have been received. United States Bond & Mortgage (New York), passes preferred quarterly dividend of $1.75, due at this time. United States Leather had deficit of $3,709,149 in 1929. In $1.54 on common stock. MARYLAND UTILITY DEAL. BALTIMORE, March 20 (Special).— ‘The application of the Maryland Light & Power Co. to acquire 14 Maryland electric utilities was held to be a re- quest to purchase the properties and not a consolidation or merger scheme, in an opinion given the Public Service Commission by Willlam Cabell Bruce, general counsel to the commission. If the regulatory body accepts Mr. Bruce's opinion and grant the applica- tion, the uiring company will gain the commission's approval for a bond issue of $1,200,000. If, however, it is held finally that the application is a consolidation or merger request, the commission cannot legally approve the acquisitions, 1928 earned | D. C, THURSDAY, COPPER INDUSTRY MEETS PRICE TEST Ability of Producers to Main- tain 18-Cent Level Inter- ests Street. BY PRESTON S. KRECKER. Special Dispatch to The Star. NEW YORK, March 20.—For 'one reagon or another Wall Street pays more attention to the copper industry than to any other commodity, unless it be wheat or cotton. One reason undoubtedly is the fact that many more copper shares are list- ed than rubber, tin or any other metal. Another is the speculative glamour that | surrounds a mining stock because of the mystery of its ore reserves. There always is the chance of a strike of rich | ore. For that reason mining stocks are | ideally speculative issues. | terest just now because of what may be called & “buyers’ strike” in the market, precipitated by the refusal of producers to reduce their price on refined copper, | despite the decline in consumption and | increasing surplus stocks of metal. | Buyers are resentful here and abroad | and are purchasing metal from hand to mouth and using up all of the scrap copper they can, in_the hope the price will come down. The feeling in Euro- | pean consuming circles is especially bit- | ter against American producers. Output Curtailed. | Producers are meeting the .vltumnn[ | by curtailing production, holding the | price firmly at 18 cents a pound to do- 77 Convenient Credi The copper situation is of peculiar in- | _ MARCH 20, 1930. mestic consumers the while. It is ru- mored the price will be reduced, but similar rumors have gon tervals ever since the break in the stock market last Autumn. The disposition of producers is known to be to hold the price against all odds. In the meanwhile a curious fiction has been circulated to the effect that the copper magnates have been import- ing large quantities of refined African copper to hold it off the market with a view to preventing a break in the price. ‘That story has just enough truth in it to be mischievous. Copper been im- ported into the United States from Africa, but that is not a new develop- ment; it has been going on for years. Where the fiction comes in is in the statement that this is “refined” copper. Africa has no copper refineries. The copper shipped is black or blister cop- per, not merchantable metal. ‘The facts are that the Union“Miniere Du Haut Katanga, & Belgian copper company, the only producer of copper in. Africa today, has a contract with an American refiner to refine the blister copper *which it sends over here. More recently the Katanga company built its own refinery in Belgium, but the plant’s | capacity is’ too small to take care of the company’s entire production. Once refined the copper goes back across the seas for marketing. In January 8,600 tons arrived from Africa, the first in two months. A certain amount of standard copper shipped here, also, from England, as has been the case for years. That, too, s sent to be refined, since standard copper is very low grade and almost un- merchantable. The big American pro- ducers of copper have nothing to do with any of those transactions. Consumption Gains. Curtailment of production of copper | currently is at a rate between 30 and 35 per cent of the peak of last year. Pro- ducers made the last cut in production in February. This will not be reflected in Tefined copper statistics until May, as putting ore through the smelting and refining processes consumes several months. Meanwhile, output of refined copper has fallen each of the last five months. Consumption has picked up from the extreme depression of last December. In the first two months of this year deliveries of copper were at theerate of about 79 per cent to wire drawers and 50 per cent to copper and brass fabricators. This menth per- centages are higher. The completely integrated copper companies are faring better just now than those which are ‘engaged solely in mining copper. (Copyright, 1930.) NETN SECURITIES. NEW YORK, March 20 (#).—New se- curities offered today include: Rhine-Westphalia Electric Power Cor- poration, $20,000,000 6 per cent consol- idated mortgage gold bonds, series of 1930, and carrying certain stock pur- chase rights for “American shares” Thave be dated April 1, 1930, and to mature April 1, 1955; priced at 93 and interest, yielding 657 per cent. Offered by the National City Co. City of Sydney, New South Wales, Australia, $5,000,000 additional issue of 25-year 512 per cent sinking fund gold bonds, dated February 1, 1930, and due Pebruary 1, 1955: priced at 90 and ac- crued interest, to yleld about 6.30 Efl! cent. Offered by Bancamerica - Blair Cwmwflthn. E. H. Rollins & Sons and others, Province of Saskatchewan, Canada, $3,200,000 30-year 415 per cent non-call- able debentures, dated March 15, 1930, and due March 15, 1960; priced at 93% and interest, yielding 4.90 per cent. Of- fered by a banking group headed by the Dominion Securities Corporation. ‘The United States leads the world in road mileage, 3,016,000 miles. you one tof those lin longer colds? V; get rid of it by rabbing of BaumeBengué.Then om plenty coverwith wool or flannel cloth—and your cold won’t linger much longer! ask for 'Ben At your, draguisc’s Baarne Bengme 101 W, 31w Seu N. Y. for sample tube. or 4 .a colds ‘aches & Home of Values Nachman’s Remodeling Sale Greater Values Than Ever '09 Handsome 3-Pec. Suite, covered in a fine quality of vel spring-filled reversible cushions and deep spring underconstruc- tion to give comfort and service. X Refrigerator 3-door M style. Hardwood case. letal Fibre Rocker High back loose auto $7.95 style cushion covered in ecretonne xfimmm Light & Power; cost, $500,- Baxter Laundries earned $2.01 on class A stock in 1929 vs. $1.61 in 1928. Curtiss Wright Corporation subsidiary (Curtiss Wright Export Corporation) to build a plant in Chile for manufac- ture of military and commercial planes. Decca Record announced results of trading to date will not permit pay- ment of half year's preferred dividend due March 31. Dollar Steamship Lines have reached tentative agreement with American the two companies. Federated Metals declares extra divi- dend of 25 cents in addition to regular quarterly dividend of 25 cents on com- mon stock. M. A. Hanna Co. second preferred stock eliminated through conversion into common stock. Ninety-five per cent of the first preferred has been ex- changed for new $7 preferred stock. balance accorded further extension of time for making exchange. - daniesn nhu N Hawailan Steamship Co. for merging of | N Occasional Table Extra special mahogany-fin- ish. \}’lll add to the 54.95 N \ \ \ ljving Room Suite Bed Room Suite lour, loose Table, Armchair. low price. Dining Room Suite Attractive 8-Pc. Dining Room Suite, constructed of genuine walnut veneer, includes Buffet, five Side Chairs and A real value at this 3-Pc. Metal Bed OQutfit Consists of full size panel-style bed, com- fortable link spring. Green enamel, will not rust. All-cotton covered in ing. Ci ! and foot rest. Closely w 69 Lovely 4.Pc. Bed Room Suite that will sure please any one. Large Dresser, full size Vanity, double size Bed and Marvis Robe. See this bargain. Baby Stroller Sisle 812k $1 495 oven. Full pusher. Ivory finish. plete with comfortable link side ..... Baby Crib $9.95 Com- spring. Drop- 4Pc. Bed Room Suite The latest style in bed room furniture, chest of drawers, large dresser, poster-style bed, French-style vanity—walnut veneer .... Metal Day-Bed Opens to full size bed. omplete with cretonne- covered mattress ... “You’ll Always Do Better Here” Corner 8th and E Sts. N.W.