Evening Star Newspaper, May 28, 1931, Page 12

'A-12 MOODY'S HOLDS CuT IN WAGES UNLIKELY Yet Some Additional Down- ward Readjustment May Be Necessary. @pecial Dispatch to The St. NEW 9 although some additios adjustment of wages will be necessary before business recovery is in full swing, Moody's Investors’ Service declares that it is nevertheless a mistake to assume that “wages can be slashed right and imply because the tendency seems "°-B§’ t in that direction.” e survey is devoted to a detailed study of price changes and wage trends in four recent major depressions; those of 1893-97, 1907-08, 1920-21 and 1930- 31. Emerging from the analysis is the conclusion that in a number of indus- tries where the ratio of wages to gross profits is inordinately high, further wage cuts may, reasonably be . In the low-wage-ratio industries, on the contrary, reductions in wages might not aid earnings appreciably, so long as de- mand refuses to respond fully to low- in past depressions has been equal to be- tween about 60 and 70 per cent of the decline in raw material prices, accord- ing to the survey. Since the beginning of the current depression raw material prices have decreased 31.6 per cent and fin goods prices 22 per cent, with the ratio of the decline In finished goods to that in raw materials amounting to 9 per cent. “Unless this depression is radically different from most cthers it therefore seems that the relative adjustment of finished goods prices has so far been gum normal,” Moody’s adds. ‘“However, ‘l.:hmumbeuueollllpnmnre- iL “It is reasonable to expect that living costs will continue to fall. Since pro- ductivity of labor, with the present state of factory efficiency, cannot easily ex- pand as rapidly as it did immediately after the war, the reduction of manu- 1 costs may have to be effected through some further decreases in wage Tates. “This would be without any real hard- more than 60 of the principal industries in the United States, ranked according to the amount of wn_‘g‘es pzid in relation to gross profits. is compilation is based on findings of the 1929 Census of Manufactures. Six industries — ship- bu! 3 otives, motor vehicle parts and bodies, woolers, cotton goods and worsted goods—pay out more than 50 per cent of their gross profits in the form of wages. At the other end of the scale are 12 industries where wages re| nted less than 20 per cent of the CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. is a summary portan prepared the Sta Statis- tica o, Ine. Nbe" York, for the Asso- | clated Press: News Trend. Additional reports by railroads of net d repo y netla operating income for April ca e present te for 50 roads to fall to 35.3 per cent below ‘April, 1930, a less hvon:‘l; g:mp-nson ‘:m. last y;a:r than e q‘!:-n reported yes- which was off 24.4 aggregate for 50 roads E"-uo definitely less favorable than the March aggregate for the same 50 roads, which was 22.8 per cent below March, 1930. The nature and trend of these railroads make it highly probable that, when the April total of all class 1 roads is computed, it will make a poorer com- parison with the last year than did the total in March, which was 25.8 per cent under March, 1930. The Companles. Atlantic Coast Line Railroad April net operating income up 12.9 per cent; four months, off 8.1 per cent. Atlantic, Gulf & West Indies 8. 8. Lines’ March quarter common share earnings $1.83, against $4.33. Fairchild Aviation March quarter common share earnings 5 cents. neral Electric receives order from lvania Railroad for 60 electric locomotives, to cost about $6,000,000. Hazel Atlas Glass 25 cents special, 25 cents extra and 50 cents quarterly dividends on common stock. Republic Steel operations averaging about 47 per cent of capacity: inventory of lap and butt weld pipe cut about 66 per_cent from year ago. Western Continentzl Utilities 1930 class B share earnings 69 cents: earned $1.10 in 10 months to December 31, 1929. Westinghouse Electric & Manufac- turing receives order from Pennsylvania Railroad for 90 electric locomotives, to cost about $9,000,000. ‘Weston Electrical Instrument March quarter common share earnings 28 cents, $1.24. Am n Brown Boveri Electric conferring on locomotive contract with Pennsylvania Raflroad. Crown Cork & Seal March quarter common share earnings 4 cents, against 43 cents. New York Central April and four months net operating income off 49 per_cent. General Motors—President expects June quarter earnings to make more favorable showing compared with a year ago than that of first quarter. 5t. Louis-San Francisco Railway—Re- ported Chase securities and Dillon-Read will head financing syndicate; Inter- 0 deficit $555,440, against net income $59,137 equal to 7 mills common share in 1929. Delaware, Lackawanna & Western THE EVENING STAR. WASHINGTON, D. C, Chicago, Rock Island & Pacific Rail- way'April deficit aft-r charges $229,945, against surplus after charges $658,27 four months deficit $467,571, against surplus $952,030. % Feltman & Curme Shoe Stores de- clares $1.75 quarterly preferred divi lend; defe; action on dividend May 18 meeting. Ford Motors, Ltd.—April sales of Belgian affiliate reported 96 per cent above March, General Public Utilities 1930 preferred share earnings $18.54, against $17.87. Grief Bros. ge—April quarter class A share earnings 42 cents, mlmt' :'ll ec_’enm six months, 68 cents, against Kelsey-Hayes . Wheel omits common dividend; paid 50 cents April 1. Los Angeles Gas & Electric net in- come, 12 months to March 31, $4,761,- 328, against $5,258,122. MclIntyre Porcupine Mines, Ltd., com- mon share earnings, year ended March 31, $2.23, against $2.27. Mohawk Carpet Mills — Profitable operations in current year to date mads possible through reduction of expenses. Penn Central Light & Power March quarter net income, before depreciation, | $506,404, against $601,622; 12 months, $2,263,699, against $2,045,684. Pennsylvania to extend container car service to all important | points on system; building 3,250 addi- : pertcent:‘hur months, off 359 per cent. | United Gas Corporation common share earnings, 12 months to March | 31, 32 cents. ' United Railways & Electric of Bal- timore April net incoms. $11.450, against $67,094; four months, 36,962, egainst $100,549. Webster Eisenlohr, Inc., March quar- ter deficit, $106,525, against deficit, $105,371. Western Pacific Railroad Co.—April net opeuuns deficit, $189,246, af deficit $186,059; ‘months, $425,645, against defidit, $400,777. Manhattan Transit—New ‘crease for properties of this company and Interborough Rapid Transit. International Hydro-Electric Syst class A share earnings, 12 months class A stock outstanding, $3.61. International Match and affliates, Read Our Special Offer in Yesterday’s Star, Page A-6 POWERS and JOHNSON | Spring lambs, 5.0089.00. it ficit, | 101 [ Kreuger & Toll and Swedish Match, to take up final portion of $75,000,000 German 50-year 6s. Louisville & Nashville £ mnonths. off 87, | class B dividends; paid 25 cents a share on each issue March 10. Studebaker Corporation defendant in suit charging infringement of free- letlm patent held by Charles F. Baldwin Locomotive Works omits common dividend; pald 871, cents semi-annual dividend January 1. Washington Produce Butter—One-pound prints, 29; tub, 28. Eggs—Hennery, 18al9; current re- ceipts, 16a17. Poultry, alive—Turkeys, 20; Spring broilers, colored, 35a37; Leghorn broil- ers, 25a28; hens, colored, 23a24; Leg- horns, 17; roosters, 12al4; ducks, 15; keats, young, 70a80: old, 40. Dressed— Spring _broilers, colored, 38a42; Ley horns, 35a37; he roosters, mb, 21; Western, 15a16; pork fresh hams, 19; fresh shoul- : ki in packages, Live stock—Hogs, heavy, : light and medium, 6.2586.50; pigs, 6.5 loughs, 3.00a4.50 4.0028.00; Pruits—Watermelons, loupes, 3.25a: oranges, 2.50a4.50; lemons, 5.00a5.5 limes, per 100, 3.00; honeydews, 3.00; grapefruit, 3.0023.50; rhubarb, per 100 bunches, 3.00a5.00. Vegetables—Potatoes, new, per barrel, 3.50a4.0¢ 150-pound sacks, 3.0¢ 100 2! 100-po: pa i 1.00; kale, 40: spinaci string beans, 1.50a2.00; Summer sguasn, 1.50a2.0 cucumbers, eggplant, 4.00a4.50; lettuce, Iceberg, 3.00; home- own, baskets, 25a75; carrots, Cali- rnia, 2.75a3.00; beets, per 100 bunches, Spring onions, per 100 bunches, B 50-pound sacks, ppers, 4.00; asparagus, 2.00a4.00; wer, 2.50: corn, 2.5082.75; mush- rooms, mostly 1.25, 1.50a: March 31, based on average number of § ! The i MYERS Wate s BALTIMORE TELEPHONE REVENUES ON INCREASE Special Dispatch to The BALTIMORE, May 28.—Net tele- phone revenue of the Chesapeake & Potomac Telephone Co. of Baltimore City during the first four months of this year amounted to $1,072,251.85, compared with $980,833.91 in the like period last year, ding to a report just filed with the Public Service Com- mission. This was a gain for the period of more than 9 per cent. In the month of April telephone rev- enue was $1,236,168, expenses were $896:671 and pet telephone revenue Was $339,497, which compares with net of $260,044 in March, this year, and $275,- 217.76 in April & year ago. For 12 months ended April 30 the company’s revenues totaled $14.269,575, expenses were $11,196,229, and net tele- phone rev:nue was $3,073,346, which is | equivalent to 6.59 per cent on the ave- rage value of the company's property. This value as of April 30 was $47,287, 432, Taxes in April amounted to $137, 120, an increase of $10,609 over March and of $15,108 over April last year. Fo the four months taxes totaling $509,83: were $36931 more than for the same period last year. The net gain in telephon-s dunng April was 1,104, and since January » | was 3,639, giving a total of 219,887 tele- | I . | phones in service in the State. Aok i dedrdrded S dok e bk ok Famous E BRING a steady flow of water g to your Summer home, suburban or country property. Just like city water. Makes a plumbing system possible. Always Insist on “Schafer Quality” Materials E. G. Schafer Co. 4100 Georgia Ave. Telephone ADams 0148 rdrdedr e deded dededede e ek » * % * » » ; : ; » derdrdrk ki tem §HH|I1IMIIIHI!IIIIIIIIIIIIIH|||!IH|HI||IlI|I|I||II|||1HII!HHII|III|I1I|HI1I1II|I|mll|1mlllflHHI||IlII|IlI|I|||Hl||HIHIIIIi§ $100 U Richl.and Butter. .. .. THURSDAY, MAY 28, 1931 We are prepared to supply vour’needs for holidays or everyday, at the usual [\ ASC0 Low Prices. Buy Your Foods Where Quality Counts. Our Stores Will Be Open Till 12 O’Clock Noon Memorial Day—Saturday—Open Late Friday Night Regular 17¢ Hom-de-Lite 1 rkg: Phila. Cream Cheese Mayonnaise or and 45C0 Sandwich Spread 1 rkg. Uneeda Biscuits 2 i~ 25¢ Both for ] 7 Made in Our Own Sanitary Kitchens. A Timely Combination Special. California Tuna Fish - 2 = 20¢ § “Headquarters” for Butter and Eggs ‘&4 Butter - 31¢ q°u.‘s‘g“,f = 2B¢ “The Pick of the Nests.” Strictly fresh. ...1b. 28¢c | Fresh Eggs........ .dozen 2]¢ Creamery Prints of Merit. Every Egg Guaranteed. Reg. 17¢ Made in Washin~ton by Master Bakers, for Washi P Our braad ie wbod in Thousands of the Bett Remoe T Giant j Bread Supreme 2 :::15- 134-1b. Loaves Bread 9c 15c¢ | Siamer . 20¢ ASC0 Stuffed Olives . . . .bot. 10¢, 20c Swiss Gruyere Cheese . . . ...box 35¢ Crisp Ginger Snaps .........Ib. 10c L 2R Whole Wheat _Faull Pound Victor PF““d 5 Try a loaf today Bread 0¥ C Loaf ;Z’:;‘:C-Pilc.. :: 38c I ;::::::ul‘i-l. . 25(: Lang’s Sweet Pickles . ... .qt. jar 29¢ Dill and Sour Pickles . . .. .qt. jar 23¢ ASC0 Queen Olives. . . . .bot. 10¢, 15¢ Spaghetti 3 == 20c Reg. 7¢ Ritter Tomato Apple Sauce Ovals! ea. Reg. 15¢ 4500 Peanut Butter med. 1 2 1 /2 c tumbler Reg. 25¢ 450 Peanut Butter Glenwood g Preserves jar 35¢ Saved by a young man of 20 is equal to $135 saved £ at 30, or $181 saved at 40, or $244 saved at 50, or $329 at the age of 60, if deposited in a savings ac- P count at 3% compound in- terest. Fig Bars 2=23¢| % 19¢ These and Many More Everyday Hints 4500 Finest Tomatoes, 3 med. cans 25¢ | Selox .................2 pkgs. 25¢ Farmdale Tender Peas. .. .2 cans 25¢ | Ivory Snow ............2 pkgs. 25¢ 4SC0 Beans with Pork. .. .4 cans 25¢ | Star Soap..............6 cakes 28¢ Ritter Beans with Pork . ..3 cans 22c | Water Tumblers (green tint) 34 doz. 28¢ 4500 Crushed Corn ......2 cans 25¢ | Princess Wax Paper.......pkg. 5c - Franco-American Spaghetti. .3 cans 25¢ | Crest Brand Paper Napkins 3 pkgs. 25¢ Bt Sugar. 10 s 49¢ SoxeeLard. ... 2 bs. 2]¢ “ResLord Baltimore Beverages 3 ‘- *Plus bottle deposit. L_mc‘)ln *Vess Beverages. .3 . 25¢ N. B.C. Luxury National Bank #Gunther Brew. . .... = 5¢c . nt . P 25¢ 7th & D Sts. 17th & H Sts. . *Plus bottle deposit. 4SC0 Meat Market Specials BEEF! Prime Rib Roast............Ib. 25¢ Combination Special Boneless Cross-Cut Roast Fresh Ground Beef..........Ib. 19¢ Maryland Style Pot Roast. .. .b. 19¢c Lean Boiling Beef ........3 Ibs. 20c Pint Jar Potato Salad 1/,1b. Boiled Ham Both fo‘: 390 Large Skinned, Hickor: Imported Sweitzer Imported Gruyere CHEESE | CHEESE SMOKED _ 1¢ HAMS “ 19¢ Ya Ib. 15c Portion 6c (Whole or Shank Half) STEWING . ¢ cHICKENs * 29¢ Fillet of Haddock. ............ Fresh Packed Crab Meat . (Over 4Y; lbs.) Selected Fancy Fresh Croakers. .. 4 1bs. for 25¢ Fancy Pan Trout....... 3 Ibs. for 25¢ Fresh Halibut Steak.............Ib. 25¢ FISH! Finest Fresh Produce Calif. Best Cantaloupes | Fresh Green Peas 3 « 25¢ 3 " 20c “Sweet and Meaty” “Norfolk, Va., Sends These” Florida Valencia \ U. 8. No. 1 Florida Oranges New Potatoes b Bananas "Ml-:b. Bags” 10 - 27C Dtan 210 Spring Spinach. ...3 ™ 10c|lceberg Lettuce. = 7ic & = 93¢ Curly Kale........3 » 10c|Fresh Rhubarb. .. .. = 5¢ Texas Onions. . . .. .4 ™ 19c|Boxed Apples. . ... .3 ™= 29¢ Calif. Carrots. . .3 "= 20c|Juicy Lemons. .... = 25¢| Red Beets. . .. .. .3 == 25¢c|Large Pineapples. .2 = 35¢ String Beans. .. .. . .3 ™ 25c|Home-grown Lettuce * 5c e Stop in your nearby To makealong story short— .39 per cent) and manufactured tobacco (8.38 per cent). Moody's remarks that “it is chasacter- istic that mut:tmmu grouped toward the in a with a . its will be . But in the case of an ‘which is able to maintain mod- Living your life is the in a depression (such ), this is by no most important piece of work you have to do. Why not plan for it? Look ahead —Start saving NOW. prices can more easlly be reduced without waiting for ‘wages to come down. NORTH AMERICAN CO. REPORTS ON OUTPUT| President Dame Notes Sales Cam- paign in Jhis City in Quar- terly Letter. Friday Rosebushes In Bud and Bloom Just the Kind for the Cemetery Decoration Day Plant a Rosebush in Loving Memory ofoOur Departed Electric output of the North Amer- dean - Co.'s subsidiaries for the 12| months ended March 31, 1931, was 1.07 | per cent less than the output for the | 12 months ended March 31, 1930, and | 6.46 per cent greater than the output for the 12 months ended March 31, ! 1329. Total kilowatt hours for the first quarter of this year were-only 3.13 ' per cent under the output for the corre- sponding quarter during the record | year of 1929, reflecting a measure | some recent gains made in business ac- | tivity. The sharp but brief revival in | business in the earlier months of last | GROUP NUMBER ONE All *40 Kuppenheimer and Grosner Suits reduced to $ 29.75 When you buy a regular $40 Kuppenheimer or Grosner suit for $29.75, concerning the company and its sub- | you know you've bought it e Pooma: e Poves €2 (| Yorwve. vived” something! has been active as a ploneer in & saies | you've saved something! campaign in Washington of electrically | Reduced from $10 White, Tan or Cambridge Gray Flannel Sport Trousers Fine quality White Flannels in 1031, increasing the total i capacity of the plant 1o 208000 kil | St s s - | wide waistband and adjustable . $1 and $1.25 SHIRTS and SHORTS and UNION SUITS. _ Rockinchair snd other Great Big Strong 2-Year-Old Monthly Blooming 2 to 3 Feet High All in 6-inch Pots 79c¢ Each Beautiful Varieties Red and Pink Ra Duchess of Wellington Golden Orange Francis Scott Key Brilliant_Crimson hd{ Hillingdon A Rich Golden Yellow i A:,.l#:ruvi:lcril Lady Ashtown armine Pink being 4.23 per cent below first-quarter | output in 1930. In his quarterly letter to stockholders | 1b. 15¢ A Good Supply e IR ROSEBUSHES Not in Pots Big, Strong 2-year ' Monthly Bloomers 3 for 50c Columbia—Rose Pink Briarcliff —Deep Pink finers and dealers, ofl-burnér equipment | manufacturers and dealers and burner | accessory dealers in &-joint clmpn‘n‘ which is resulting in largely increased | sales and the promotion of ofl-heating | equipment energized by electricity. The | Potomac is now completing .he en- largement of its generating facilities at | the Benning plant; a new 30,000-kilo- watt unit will go into service in June, | company has co-operated with ofl re- Kai Gray. Other Plant Bargains Moatly All in Full Bloom I yo_t;suffe'rr from hrigli i BLOOD PRESSURE don't hesitate to make Mountain l’l’A?s Genuine herlu)u ...a _spec p; Optimo and Alpine E:u. Ripe Yellow Come in and Make Your Selection No C. O. D. Orders No Phone Orders We ecannot deliver plants at these prices. Hardy Perennial Plants Tall, Dark Blue and 3 Light Blue Delphinium, of One Hollyhocks, Sweet _Kind William, Phiox, Hardy 69 Pinks, Golden Glow. c of Sedum Several kinds Plants for Rock Gardens Bachelor’s Button, Day Lil operated ofl-burning equipment. The | side buckle straps, in Tan and well known makes. Marigolds, Asters, Snapdragons, 50c doz. HARDY EVERGREEN [ BARGAINS mheb-? Arborvitae, 18 to 24 Chinese Arboryitae, 3 to 314 feet. Globe Arborvitae, 10 to 12 inches. Biota Orientalis, 18 to 24 inches. Coreopsis, 25c each. - Iris, 3 for 25¢ All 890 Each F.W.Bolgiano & Co. 0091 Phone n;tr.‘:itu 1062 for bookiet today. Sold in Washington for 15 Years. 306 District Nationsl Rank Bldg. MOUNTAIN VALLEY CROSNEIRY 1325 F STREET Sto b, and you will see what it }