Evening Star Newspaper, December 1, 1932, Page 13

INTEREST TURNING TO DOMESTIC NEW Debts Still Have Influence, but Uncertainties in U. S. Stressed. @pecic] Dispatch to The Star. NEW YORK, Decembe:r 1.—The stock 7a; market is turning its atiention more to | home affairs, after its recent absorptis in the war debt problem. Intense interest is taken in the for-; eign situation and any decisive develop- | men: in that quarter would certainly | be reflected in stocks, but that is not the only question that is troubling the 8treet. In fact, opinion is veering to the idea that from a long-range stand- point it does not make so much differ- ence whether or not debi payments are met on D2cember 15. If they are paid | this time it only postpones settlement, | and if they &re not paid it will be a' blow to British credit, which is sure to react disastrously on financial relations 3 the world over. The only permanent solution would be an agreement to wnich the Ameri- can Congress, the British Parliament |, and the French Chamber of Deputies could subscribe, and that is obviously ble of attalnment now and ap- parently for a long time to come. Among domestic uncertainties, the dividend outlook is a heavy drag on the market. The situation with regard to United States Steel preferred has al- ready been discussed in this column. lnmdenlllly Steel preferred was acutely weak Wednesday on unfavorabie reports from the trade. The General Motors disbursement is questicned, and so are @ host of others. Surplus Gone Eventually. No matter how strong a corporation s financially, it cannot go on paying dividends out of surplus indefinitely. Sooner or later there comes a day of |3 reckoning. Even corporations which have maintained net eamnings at a comparatively satisfactory level all through the depression are now feeling the pinch of decreased chasing power. It affects the tobacco com- ‘panies, long supposed to be depression- proof, but which are now feeling price ‘eompetition. Ninety-seven per cent of the stock of the Chicago, Burlington & Quincy is owned in equal part by Northern Pwme and Great Northern. The Bur- lington has had a longl:nd honorable dividend record. paid some- thing in every year, except three, since 1855, and since 1861 there has never been a year in which the shareholders went without some return on their in- vestment. In 1931 $10 was plid On June 2, last, a semi-annual dividend of $3 was declared, which, if continued, would be a $6 annual rate. Burlington_directors were scheduled to meet for dividend action Wednesday, but it was announced that considera- tion has been postponed to a later date. The news had an unfavorable effect on the market in its reminder of the evil evmth: t.hn D. Baker, chairman of the welfare and wide t is the only large t;t hxzn:‘auuhdiv‘s:nd ‘which ll is to spare. Ref e'm“ . for November y will show an increase of 1 to 2 per n-n aver va:mbgr 1931, which is an achievement. ¢ Wheat Being Held Back. One carlaad of ‘Wheat moved out of Omaha and T8 cars out of St. Louis and Kansas City on-Tuesday—a total of 74 cars. On v.ha uma day in 1931, from cafs were sent out. ‘F hrm nco of wheat what it with (reigm rates what they are, pte holding back of wheat from the ket is not surprising, but it is some- ing ‘to be taken into account when ing current railway earnings. e mlly of course, this wheat will have to be moved, but meanwhile it as.if there were of a e on the part of the producers. Reports sifting into Wall Street from the Middle West emphasize the gravity of the farm m situation. They lend point to the plea of congressmen that they cannot countenance lienency to our foreign debtors when their own constituents are so heavily burdened. Neither the congressmen nor the farm- ers connect the decline in the price of farm products with the unsettlement in world trade, which, in turn, is the re- sult of these international debts. The tors argue that if Europe is let from its engagements they will have reason to give why there should not mortorjum on agricultural debts. not question to answer. Aside from the obligations of the nited States Government, the only se- curities which command a ready mar- ket are the first mortgage bonds of operating public utility corporations of unquestioned financial stre For these the demand is greater than the supply. One of the best known bond men in the Street said today that he dmseencurm-o{t.hugnde on & l'/. per cent basis before the is over. (Copyright, 1932.) U. S. Gold Cheaper In Canada Than American Bills Vancouver Banker Re- veals Predicament in Changing Money. the Associated Press. VANCOUVER, British Columbia, De- cember 1.—American gold is as good as gold in Canada, but American paper eash is much better. cifizen of the United States, visit- ing a bank here, learned to his sorrow he would have been wiser to fill his mckem with bills before leaving home ad of loading them down with gold &bcu. It would have saved him a lot money. “He Illk!d into the bank and lald the counter some American bank- notes, some silver dollars and some $5 pioces. For every dollar bill he got $1.19 in Canadian money. For every dollar in silver he got $1.08. For every dollar in gold he got a dollar in Canadian cur- rency—just that and nothing more. He protested what he termed the dis- crimination against gold in favor of paper, but the banker explained: “Your gold pleces are worth no more gold pieces of the ' hens, 14a16; young tcms, 17a20; young | ashington Produce mv—o“ nd vrlnu (93 -eun). a17; cne prints score), fi, tub, one-pound whtl (90 leore), 25; tub‘ 24. -Hennery, whites, 32a35; current m‘l smz Government standards, 36; mediums, 32. , _allve—Turkeys, old toms, 10a12; hens, 12a13; young toms, 14; yu\mlhm: 16; l(o 2's, 9a10; chickens, Plymouth Rocks, 4 pounds and over, 14al15; 4 pounds and under, 12a13; mixed colored chickens and Leghorns, 9al2; hens 4 pounds and over, 14al5: capons, 7 pounds and over, 20a22; small | capons and roasting chickens, 15ali keuts old, 20a25; yocung, 25a35; roosters | Poultry. dressed—Old toms, 13a14; old [ hens, 18a20; No. 2's, 11a13; chickens, Pn'mouuz Rocks, 4 pounds and over, 16a17; 4 pounds and under, capons, “ pounds and over, mixed colored chickens and Leghorns. 14a16; small capons and roasting chickens, 16a18; roosters, 10a12. Meats—Beef, 11; lamb, 14; veal, 11; pork loins, 11; fresh hams, 10; smoked | hams, 13; ‘strip bacon, 13; lard, | pound, 7. | Live stock—-Hogs, ‘:‘\ medium, 3.50a3.65; . 3.25a3.50; | 3. | "Game—Rabbits, per dozen, 1.50a1.80. Fruits—Apples, bushel, 50a1.50; fancy | box stock, 1.50a2.25; pears, bu.shel. 1. | X fancy box stock, 1.75a2.2 ;_seckels, /0022.50; grapes, Concords, 3-pound baskets, “llZ emperors, 1.25; corn- muscatels, 1.00; Thomp- ; Malaga, 1.50; juice grapes, 70a85; honeydews, 2.00a pet 25a1.76; bananas, 150a3.00; pineapples, 3.50a4.25; Christ- mas melons, 2.00: casabas, 2.25. Florida, 2.75a3.75; California, 3.00a4.50; Snu\xmu. 3.5024.00; grapefruit, 3.75a 4.00; lemons, 4.5026.00; persimmons, 1.25 | ;l .50; limes, per 100, 2.00; cranberries, | | Potatoes—100-pound _ sacks, Mainc, 1.35; New York, 1.15; Idaho bakers, 1.75 a2.00; sweets, per hushel 50a75; string | beans, 2.25a3.00; limas, 5.50; onions, | vellow, 60a75; white, 76a1.00; brocoli, | .50; peas, 2.75a3.00; celery, 2.25; cu- cumbers, 1.35a3.00; letuce, Iceberg, 3.258 3.50; New York, 1.00; salsify, per dozen bunches, 75; turnips, 60a75; cabbaf | 60a75; mushrooms, 75; tomatoes, Cali- fornia, 30-pound lugs, 175a2.00; re- packs, 1.75a2.00; parsnips, bushels, 1.25; okra, 1.50a2.00; squash, 1.50a2.50; cel- ery. New York, 1.25a1.50; California, | 2,0082.25; eggplant, 2.00a2.35; beets, per 100 bunches 3.50a4.00; carrots, per mo bunches, 3.5024.00; bushel baskets, 75a | 1.00; kale, 40; spinach, 20a75; arti- choke, 3.25a3.50, WELFARE FORCES RALLIED BY BAKER Declares American People Face De- mands of “Undramatic Catastrophe.” By the Associated Press. NEW YORK, December 1.—Newton people “are facing the greatesi task which a m ever had to face, and er we are capable of re- spondlng adequately to the demnd; of an undramatic ca In contrast, Mr. tastrophes—they challenge us and we m&md ‘o dressing the fiftieth observance of the founding of the Charity Organiza- tion Mr. Baker sald it was “ut- terly and_indescribably pathetic that there should exist luch lespread want in a land of p MAKE “HIP-POCKET”: CAR Japanese Manufacturer Turns Out Smallest Auto. A “hip-pocket” automobile has just been brought cut by a company in Japan, the Commerce De ent an- nounced today. So small is the vehicle that it may be operated in cities with- out payment of tax, according to a cable recefved from Tokio. The department said the world's smallest motor car is approximately one-half as large as the smallest British- made automobile, known here as the " | conclusion was based on the fact that 'YOUTH, 15, SLUGGED baby Austin. The price is said to be exceedingly low. Hundreds of Splendid Gifts Are Suggested in THE STAR. We will give 85 in bills for & $5 Canadian gold plece, and we can give no more for an pit of the same ‘The saddest blow d all 'fll mo when the American r country. That's 'hln he wlll ful Qu loss. For every $5 gold plece he brought into Canada, he got $5 in Canadian per money. When he exchanges that for American money he will get cone $5—the discount ““g‘:nllmlfl ‘has A anil-Tivisection epmm- _ Read These Advertisements »o0and -' [ wfis“ 4.\ P THE EVENING STAR, WASHINGTON, D. C, THURSDAY, DECEMBER 1, 1932. BETTER CONDITION HELD UNDER WAY A. W. Robertson, Manufac- turer, Says It Is Now Safe | to Plan for Future. By the Associated Press | BOSTON, Deccmber 1.—A. W. Rob- ertson, chairman of the board of the | Westinghouse Electric & Manufacturing Co,, said today: “It is now safe to plan for the future; the worst of the de- pression is behind us and better times are slowly and steadily coming.” Speaking before the Boston Chamber of Commerce on the industrial rehabili- tation movement, Robertson said this the “financial panic, which caused the most acute of our troubles in May, June and July of this year, is past.” Cites Improvements. e d is flowing into the country,” | he said. “Our central banks have hun- | dreds of millions of excess reserves. 50 that money is cheap, although not plen- tiful, so far as business is concerned. Banks are no longer failing in large numbers, and some closed banks have reopened. Hoarding is on the decrease. “In the past such a condition has | always been the beginning of a_busi- es, | ness improvement, and we are already | of Commodore Pope. beginning fo feel a beneficial effect. ! ; we have asked the ques- tion effect will the elec.ion have | on t activities?” Our answer before | the clection was ‘Non> wh g that the election over we have had time to survey business conditions and we are glad to say that the election had very ]ltLle. if any effect on business conditions,” he added. “We have been at pains to check this fact and it is significant to note that business im- proved in the teeth’ of the election campaign. * Sees Employment Help. “The more favorable signs to which | I refer are the improvement in the price of securities, in the textile indus- tries, increase in pay rolls and em- ployment, the drop in commercial fail- ures and the increase in electric power pm-lu(tion silyllos “This depression will be over when | our normal habits are resumed and our | normal optimistic frame of mind is in control. The plan of industrial re- habilitation is such a normal activity, it will help employment in the capital goods industry where unemployment is most severe.” AND ROBBED OF $66 Thieves Get Loot Valued at $400 in Series of House-Breakings Last Night. William Bennett, 15, in charge of a roadside stand at Fifth and Neal streets northeast, was slugged and robbed of $66 last night by a colored man, who escaped before the boy could recover sufficiently to summon aid. In a series of housebreakings last night thieves obtained loot totaling more than $400 in value. Among those re- porting thefts were Henry Leo, $200 worth of watches stolen from 1810 Eighteenth street; clothing; 3 Monroe street, $98 in clothing and jewelry; James L. Compton, 1700 block L street northeast, $44 Christmas sav- ings check; Lieut. Phillip H. Crook, Capitol %:lice a pistol from House Of- fice Building; Francis Norten, a valu- able English shotgun stolen from 1736 Church street, his home. Parked car robberies were reported by Mrs. Merritt O. Chance, Ridge rcad, from her automobile while standing on Jackson place, a $65 coat; James 8. Schreyer, 1800 block California street, a bilifold containing driver’s permit and registration card, and Madeline V. Cole- man, who sald the horn on her car was stolen while the machine was parked near the Congressional Library. You can’t pull your gifts out of a bag the way he does on Christmas Eve—so don’t try. Too many people wake up to the fact that they have shopping to do a day or two before Christmas—and then how dis- agreeable it all is! Shop immediately and buy while stores pre- sent their complete assortments, unhandled and fresh, at the lowest prices in years. You’ll receive 1009 attention and setvice, and your gifts will be malled before Christmas instead of after. Descendant of Two U. S. S. Constitution Commanders Killed Dr. John Pope Delaney, 75, Is Fatally Hurt in Auto Mishap. By the Associated Press. GENEVA, N. Y., December 1—An automobile ‘accident has taken the life of Dr. John Pope Delaney, 75, whose | father and grandfather both served} | during part of their lifetime as com- | mander of the American frigate Con stitution. Dr. Delaney was knocked down by an automobile last night and was run oher by & lecond car His skull was fractured and he died on the way to the hospital. His father was Admiral Michael Granville Delaney, who commanded the Constitution from 1852 to 1855. His grandfather was Commodore John | Pope, who took command of the famous in 1826. Dulaney never married and his irviving relative was believed to Shephard Bensen, widow of the | Jate Admiral Shephard Benson. Seven ranking admirals were mem- bers of Dr. Delaney’s family and he sought to follow the nautical family tradition by en Annapolis Naval Academy in 1876. He was rejected be- cause of poor physical condition after an illness and took up the study and practice of medicine. He was born et the Portsmouth (N. H) Navy Yard. His mother was Sarah Pierce’ Pope Delaney, daughter BONDS ON THE CURB DOMESTIC BONDS. High. Low. Noon., 9ty 1Arkans P & L Bs '56 3 Asto GAE 4153 140 C 7 Ass0 G&E i Cleve £ Hiu’ 4 Com Edis 48 G Con s Ut ks A 93 1 Son Gs Ut 0 B Glidden Co 5las 4 Grand Trunk o L Pw & L 65 A 311 Pw & L blas II;IHHHD P&L 5s A AR bigh Gs 202 7 Man !uhn Pu B 51 1Miss Pw & Lt b8 '57 Mont LH&P 5s A '51 Narragansett at P 8 bs 22Z22 ?§§?E“‘T‘v 255300 L 1 2 Stinnes 7s 46 xw.. With warrants. Without warrants. {LOW COTTON STOCKS - ‘with those now com- , and are 46 per éent themhernmeolthehn REFLECT OPTIMISM| Improvement in Basic Condition |coY of Industry Seen by tember Leader. either of the two prect peak demand in recent months was more than double that of a year ago, and there have been only three higher P Ceatel Thee month end totals in the last five NEW YORK, December 1.—Improve- ment in the basi¢ condition of the cot- ton goods industry is reflected by the steady shrinkage in inventories during the pest two years, says George A. Sloan, president of the Cotton Textile Institute, in the institute’s sixth an- nual report, issued yesterday. The statistics of carded and combed fabrics, the report points out, show that stocks are now lower than at any previ- ous time since January 1, 1928, when P Victim of Fire Dies. John Swan, 72, colored, died in Cas- ualty Hospital early today from burns received Monday during a fire in, his home, 2351 Ainger avenue southpast. The fire was caused by an ewm&:mg oil stove. EXINGTON TOBACCO MARKET WILL OPEN| Auctioneers to Swing Into Action Monday—Warehouses Busy . Receiving Burley, By the Associated Press. LEXINGTON, Ky., December 1.—The Big Bertha of tobacco markets wiil swing into action Monday with auction- eers intoning their peculiar jargon which few except the leaf buyers—the strong, silent men of the indu understand. Lexington ¢fims to be the: largest tobacco marke! in the world, since the 94,776,730 pounds sold here last year set a new high record for volume.on score of warehouses are mofln ori for baskets of pounds, approxima 250 baskets are sold in an hour. On some markets, ”ham b‘olflflus weigh less, as m;ny as or m -are sold per hour. This eans than four baskets m opening. wlety wh.e Lh from 300 to 400 the suctioneer to wares and the buyers to rnch their highest bid. Six or seven buyers fol low ‘the: auctioneer, according to how many large tobacco magufacturers are represented on the market. Held for Grand Jury Thomas F._Bell, 24, 1000 block of L street, was ordered held for the grand | jury onbond of $3,500 in Police Court | yesterday .on & charge of assault upon Miss Bera Roberts, 26, of the Annapolis Hotel. Bell {5 alleged to have attacked the young woman in a secluded part of tho Soldiers” Home grounds Sunday any looseleaf market. More than a'night. LU NATION-W SERVICE GROC ‘For Your Nearest Nation-Wide Store Phone Linc. 0093 ONEIDA COUNTY WHOLE BEETS These are fancy, selected New York State whole beets, averaging 12 or over to can. 2 No. 2 cans l9c Beardsley’s Shredded Codfish . .. Pink Salmon . .. serve you better. Mr. S; ANGLO CORNED BEEF 12-0z. can lsc 1-lb. can CRISCO A Pure Vegetable Shortening omim OPENING, FRIDAY, DEC. 2 7:30 to 9:30 P.M. SIEGEL’S MARKET, 1001 G St. S.E. Mr. Siegel has completely remodeled his store so that he may iegel and the Nation-Wide organization invite you to this grand opening, where there will be Samples and Baskets of Groceries Given FREE 19¢c BABO For Porcelain and Enamel 2 = 23¢C LUX Toilet Soap cak: 7c KIRKMAN’S Soap Chips. ... sm. pa. Tc Soap Powder.. sm. pks. 5c BORAX SOAP o, 10€ 3 cans 2 pkgs. BREWER-SNYDER POTATO CHIPS 3 Ige. pkgs. 25¢ COOKED HOMINY 1-Ib. pkg. ‘ Natzon- Wlde ’ Arrow Specials Ritter’s Pork & Beans | Pillsbury’s , { Camp Marshmaliows 14c¢c Pancake Flour 15¢ fire 15¢ Sunsweet Prunes 1. pke. Q€ W Lord Fairfax With 97% of the Caffein Removed Coffeenr 25¢ Ib. 49c Campbell’s New Pack Tomato Soup 3 cans lgc ns. 14c|Quaker Oats .. ................... v 9¢c civeiiinenee. 3cans 25¢c|Cream of Wheat . ............. m s 13¢ OLD VIRGINIA APPLE BUTTER 28-0z. jar l sc COMET RICE Cook’s Cakes Black Walnut Pound b 20€ BATTER CREAM Perfectly Balanced for w.mn_c-—-n-.-.u.d..;, - HASTY TASTY Biscuit Blend Nothing to Add But Water 1 pkg.ofeach 21¢ Edgemont GINGER SNAPS 1 b pks. 17¢ Sunshine Butter Macaroons 1 1b. pkg. 23¢ Sanka Coffee Walter Baker’s Cocoa :» 11¢ Smithfield Apple Sauce ............... 3 cans 25¢ Delmonte““""l’eaches.............2" csns 20¢ Apple Blossom 'Y Lima Beans........ 2 cans 19¢|Boris Extra Slfted Peas....ccoos0nes... 2 cans 20c GOLD MEDAL : 'l S | “Kitchen Tested” MEOIC AL ASSA > GOLD SEAL u.' Size, doz. Are Your Children Eating ELK GROVE CERTIFIED EGGS .Government Graded and Dated 53¢ wier 48c BOSCUL COFFEE One-Hour Fresh L 35¢ PureLard ....... 2l<na wie. 17¢ |KRAFTS CHEESE, all kinds. . ... ... .. % g 17¢ Smoked Hams FRESH HAMS "\ Strip Bacon . .... .. mn 15¢ Skinless Franks ....... » 23c 10 to 12 Lb. VenlCutleb Py R G R omes PORK ROAST s .......» 17¢C ey > 16c|LONG HORN CREAM CHEESE. .. 13¢|PHILADELPHIA CREAM CHEESE. veno 2 mas 19¢ < s e B3 SpareRlbs....................Zlb-25c GOLDMEDM‘BU"ER cereeenon. .2 e 59¢ ChuckRoast .................... » 16¢c RibRoast .......... FOUNTAIN Eowm Fresh Ground Hamburger . e oo erm T HAMS. ......» 20¢ Fancy White Potatoes . . 7c SWEET POTATOES. ..........410¢c Carrots and Beets . .. ... Rutabagas ... veo..m25¢ Yellow Onions ................ 3 10c 10 ms. 15¢ Tere e . 2 vunkes 18c RA——— | s {1 7 ..n23c'l'urmps P ST P Sy o - S8 sesneeanses b 19c|Fancy Lemons . ................ doe=s 20c Jf‘nt ) uunmr. MEAT. ...» 15¢/FLORIDA ORANGES . . cean. .t 33C S FMM&#..-...’..-IIc(eeborgLefluee...............2-&191: