Evening Star Newspaper, March 1, 1933, Page 13

POULTRY PRODHCTS IN FIRMER TREND ‘Trade Trends By the Assoclated Press. Fur trade—Sellers are ring for a good Spring demand for jacquettes and scarfs of fox, mink, sable and mar- ten, according to R. G. Dun & Co. Steel—Demand for nearly all finished Some Fruits and Vegetables products has decreased from a_week Also Hold Steady Price Range. Dairy and poultry products, also some | ago, says the American Metal Market, but the downturn is in keeping with the experience of last year and three years ago, when March had a lighter production than February. Carpet ‘Wools—Imports last week at Philadelphia totaled 159,602 pounds, compared: with 459,206 in the previous Pruits arid vegetables, were among the | week. - fairly steady or stronger group in a generally rather weak farm market r the end Of February, says the United States Department of Agricul- ture, Bureau of Agricultural Economics, Market News Service. Butter sold a little lower at some points, but cheese values were firm on account of dis- turbances in some Western producing sections. Eggs advanced on lighter cur- rent receipts. Fruits and vegetable mar- kets are supported by delayed effect of the February freeze as related to the c Grain, hay and feeds but price trend was mostly Net changes were small in the live stock market. Butter Market Unsettled. The wholesale butter markets tended gasier near the beginning of March. Prices were fractionally lower. Weak- ness was most pronounced at Chicago, where prices declined one-half cent. fDeclines of one-fourth cent were e rorded at most Eastern markets. Ar- Fivals at four leading markets have shown little change. Comparatively low Tetail prices have no doubt encouraged the consuming demand. Fresh cheese markets ruled full steady pnd in some markets prices advanced Aractionally. Basic quotations in pri- mary markets remained generally un- nged. Some anxiety was caused by the milk strike in Wisconsin, which, it was anticipated in trade circles, would cut down production. Dealers, there- Fore, held more firmly to asking prices, s supplies were rather moderate. | Recovering Egg Market. The egg markets toward the close of ebruary showed some improvement pver the lower prices reached near the niddle of the month. Receipts were ot quite so heavy as before. Traders ghowed some interest in buying the bet- r marks for short-time storage, feel- g that the current prices had reached e level not entirely justified by prevail- g condition: Receipts of fresh-killed chickens are Jight, but the buying interest is only moderately active at steady prices. There is some increase in receipts of gresh fowl, but arrivals are clearing Fapidly at unchanged prices. Livestock Market Irregular. | Cattle receipts at Midwestern mar- ts were larger the last week of Feb- uary. Prices were irregular but aver- age change was small. For the past two weeks the receipts of finished earlings and light steers have hardly been equal to requirements. Despite the slow movement and unevenly lower dressed beef prices, indications are that the highly finished end of the weighty teer crop is becoming more nearly in line with trade requirements, Price oncessions in the lower grades of steers ended to weaken the late February arket on mixed yearlings and heifers, ps well as on butcher cows and heifers. Vealers, dye to scarcity, were higher. The hog market at Chicago flucu- pted within very narrow limits near he first of March. Heavy receipts gent fat lamb prices at Chicago sharply downward to the lowest point since Oc- ftober 20 last. but as_the late run dwindled, better grade lambs regained pbout half of the early decline. The Boston wool trade was very quiet ear the beginning of March. Small uantities of French combing and lothing 64s and finer Ohio and simi- ar fleeces were sold slightiy- lower at h21: to 1312 cents in the grease. Corn and Feed Grains Lower. Domestic wheat markets were fairly teady in late February, although the position became unsettled near the end bf the month. Corn and other grains vere mostly lower. Unusually light bfierings, together with unfavorable prospects for the Winter crop were rincipally responsible for the occasional ftrength in the domestic cash wheat arket since foreign markets were ostly weak and lower, and the large emaining world supplies were moving Llowly into consuming channnels. In- reased receipts of corn weakened the fnarket for that grain and prices de- lined one-half to 1 cent per bushel Pats and barley were lower with corn. Rye was barely steady and flax de- lined about chenls é)er bushel under dull milling demand. Timothy hay markets remained quiet, but prices showed little change, with upplies about in line with current re- fuirements. Demand was reported slow t Boston and prices remained un- hanged largely as the result of light [fferings. Arrivals at New York City lere mostly of a medium or lower grade but demand was fair, With top grade ay in scant supply, the lower qualities hhoved fairly well at steady prices. Al- alfa markets remained about un- thanged. Some Vegetables Higher. Delaware and Maryland sweet pota- oes strengthened to 65 cents—$1.25 per bushel, but New Jersey stock was veaker. Onions gained further in the ast and North, with Western shipping istricts also firm to higher. Cabbage prices advanced to a range of $18 to $20 ber ton in Texas producing districts. elery markets reacted, and the recent price” trend was downward. Potato brices were slightly lower in the East hear the end of February. The Chicago arlot market strengthened slightly. btrawberry prices advanced. Apples bere generally firm to slightly higher at ipping points. Woolens—A better demand for men's and women's fabrics is looked for dur- ing the next two months, according to sales agents for mills and jobbers. Many retail clothiers, it is said, are so low on stocks as to be in imperative need of replacements. Silk—A fairly satisfactory volume of sales of finished goods to retailers is reported by some broad silk mills. Fab- rics suitable for fur coats are being sampled and some orders for heavy cloths of this type have been placed, it is said. RAW MATERIAL EXPORT TRADE WELL MAINTAINED By the Associated Press. Crude materials improved their status in domestic export trade of the United States during January, rising to 35.7 per cent of the total shipments as compared with only 33.9 per cent for the comparable month last year. Crude foodstuffs absorbed the difference, dropping from 5.6 per cent of the whole lnst3 year to 3.9 per cent in January, 1933. ‘The greatest portion of January ship- ments was comprised of finished manu- factures which amounted to 37.4 per cent of the whole. Semi-maufactures accounted for 133 per cent and manufactured foodstuffs to 9.7 per cent. ©On the import side, the greatest pur- chasés were in crude materials which, as a group, reported 28.4 per cent of the total. Finished manufactures ac- counted for 22.8 per cent; crude food- stuffs to 18.7 per cent; manufactured foodstuffs to 13.3 per cent and semi- manufactures to 16.8 per cent. RAILROAD EARNINGS. NEW YORK, March 1 (#)—About half of the railroads so far reporting for January show improvement in the net railway operating account over Jan- uary, 1932. The first 48 carriers to report had net_operating income of approximately $8,380,000, compared with $7,896.000 in January last year, an increase of 6.1 per cent. In December their net operating income totaled $24,060,000. which was an increase of 7.9 per cent over the same month in 1931. January net railway operating in- come of roads reporting today follows: New York Central. . Norfolk & Western' . Pittsburg & Lake Erie Pittsburg: & W. Va. 135,480 19,896 EARNINGS REPORTED. NEW YORK, March 1 (#).—Ohio Oil Co. reports 1932 net income of $7,242,- 981 against loss of $5,182,260 before profit_and loss charges in 1931. J. J. Newberry Co. had next income of $819,002 last year, equal to $1.07 a common share, compared with $1,085,- 853, or $1.73 a share in 1931. Mahoning Coal Railroad's net income in 1052 was $699,990 against $1.218,668 PARIS BOURSE PRICES. PARIS, March 1 (#)—Three per cent rentes, 17 franes~10 centimes; 415 per ccrgxrcnks. 90.80. Fruhauf S Clothes S LECTRIC POWER OUTPUT DECLINES DURING WEEK 1.—Electric wer output last week, which in- luded Washington's birthday, declined o 1425511,000 kilowatt hours from 469,732,000 in the previous week. In omparison with the same week last car production was off 5.7 per cent. the preceding week the decline from was 4.9 per cent. Declines in the major geographic gions follow: Atlantic Seaboard, 4.1 er cent, against 4.6 per cent in the revious week; Central Industrial Dis- rict, 9.4 per cent, against 6.9 per cent; acific Coast, 5.4 per cent, against 7 per nt; New England, 5.5 per cent, against 1 per cent. ‘Wage Increase Granted. YOUNGSTOWN, Ohio, March 1 (®). ‘Workers in bar iron mills will re- eive an advance of 25 cents a ton r March and April, according to a imonthly —agreemeni between the Vestern Bar Iron Association and the ron, Steel and Tin Workers' Union. The wage scale is kased on the aver- ge sales price for the previous two onths. Mill Operations Resumed. NEW YORK, March 1 (#).—The olorado Fuel & Iron Co. rail mill hes sumed operations after being shut own for more than a year. It has arted working on a five-day-week ‘hedule rolling rails for the Santa Fe ailroad. SR Machine Inquiries Gain. NEW YORK. March ] (#).—Although achinery orders are scarce, “a sudden d rather impressive increase in in- iries has taken place in most of the [nportant centers,” says Ame n Ma- ist. The trade is hoping, it adds, hat these xn&mflu will be soon trans- d into orders. For the man who dresses with that. carefully care- less ease, this soft and mellow snap brim by Dobbs is the hat for spring. made, it is a comfortable, becoming hat for long and satisfactory wear. In all the pop- ular shades. THE FAMOUS D0BBS Gronap Sdge HAT NOW, $7.50 THE. EVENING -STAR, WASHINGTON, D. C., WEDNESDAY, MARCH 1, 1933 EDUCATOR FLAYS POLITIGS IN'SCHOOL McAndrew Speech at N. E. A. Session Recalls Controversy With Mayor Thompson. By the Associated Press. MINNEAPOLIS, March 1.—Williar McAndrew, who was ousted as super- intendent of Chicago schools several years ago after Wililam Hale Thomp- son, then mayor, charged text books were pro-British; attacked “political domination of education” today before a group session of the Department of Superintendence, ' National Education Association. McAndrew, flery opponent of the for- mer Chicago mayor, cut a colorful patch in the controversy that raged after Thompson < asserted “King George should be kicked out of the public schools.” In the course of the contro- versy, “Big Bill” also declared he would “bust King George on the snoot.” Rap at Legislators. Befare his address he told of a pro- posal to convert Minnesota State teachers’ colleges into_ institutions for State wards and thereby diminish the teacher output. His retort was: “For the welfare of the people of the State, it would be best to put the legis- lators _in the insane' asylums them- selves.” “Mayor Thompson during that con- troversy down there in Chicago was asked which King George he wanted ousted from the schools,” he said of the conflict several years ago. “King George III or George V.” Mayor Thompson’s answer was ‘What, are there two of them?’ In his address McAndrew urged free- dom of schools administrators and characterized the parent-teacher or- ganizations as a first aild tao profes- sional, as against political, domination | of schools. He took a potshot at 12 school super- intendents, who in a volume just issued declared parent-teacher organizations were no more than “impediments.” “Political interference with the im- provement of the teaching force and with weeding out of incompetents is & sign of clumsy superintendence. The duty of school trustees to provide the community with full return for its money in the way of education is so weakly appreciated by most of the boards with whom I have had any acquaintance that one wonders why we continue to call them boards of educa- tion.” R. F. C. School Aid Urged. Use of Reconstruction Finance Cor- poration funds for schools with meney troubles was pressed yesterday as an emergency solution by George D. Stray- er, Columbia University professor. ad- dressing the department of superin- tendence. “There are whole States which find themselves unable to finance their educational programs,” he said. “The economic situation undoubtedly has justified the extension of credit to railroads, to banks and to agriculture. The inability of some of the States to maintain their public school systems just as certainly calls for relief from the Federal Government.” Dr. Strayer, urging savings through creation of larger units of school ad- ministration, particularly in rural areas, asserted much current educational re- trenchment was false economy. Earller in the day the department’s Committee on Public Relations advocat- ed increased Federal support. Supt. Paul C. Stetson of Indianapolis was to be the new department presi- dent. David E.”Weglein, Baltimore su- perintendent, was sole nominee for sec- ond vice president. Paisley, Scotland, will build 500 mu- nicipal houses for workers. Foot-Joy . Shoes Smartly styled, carefully $ 500 Na:w RAIL OFFICIAL SLAIN Discharged Employe Then Turns Gun on Himself. LAFAYETTE, Ind, March 1 () — Charles H. Barton, 48, superintendent of the Lafayette Street Railway Co., ‘was shot and killed late yesterday by Edward H. Powell, 65, discharged em- ploye, who then wounded himself per- haps fatally. Records of the company revealed 15, . in which Powell flagged & street car to proceed when a train was approaching. COAL PRODUCTION OFF. By the Assoclated Press. Production of bituminous coal showed a sharp during the week ended February 18 as the output was meas- ured by the Mines Bureau. In the table that follows production is.given for comparable periods as announced by the bureau: Week ended February 18 Previous week....... Wheat Supply Drops. NEW YORK, March 1 (#).—The visible supply of American grain shows the following changes in bushels: Wheat decreased 2,877,000; corn in. creased 1,107,000; oats decreased 232,- 000; rye decreased 11,000; barley de- creased 55,000. - World Cotton Consumption. NEW YORK, March 1 (#).—The New York Cotton Exchange estimated world consumption of all kinds of cotton from last August through January was the highest in three years. The total consumption was about 12,067,000 bales, compared with 11,660,000 for the pre- ceding six months e General Electric Report. —The General Electric Co. in a pre- liminary statement issued today reported net income for 1932 of $14,404,110, equivalent after dividends on the 6 per cent special stock to 41 cents a share on the common stock. In 1931 the com- pany had net income of $40,956.996, which after deduction of the special stock dividend equaled $1.33 & share. Billion Dollars, $64,025,923.35. Assets . . . Liabilities OTHER DOBBS HATS $7 AND $10 Sidney West, Inc. 14th and G Sts. N.W. —zaeesm EUGENE C. GOT:I:, Pr_o;:iltytm:z_ SCHENECTADY, N. Y., March 1 (®), | (Greater than these Statutory Reserve . . Reserve for Dividends payable in 1933 Industrial Policies .~e-¢- o Ordinary Policies . . . Accident and Health Policie Total Dividends . All Other Liabilities . . . . : Income in 1932 , Increase in Income during 1932 . Increase in Assets during 1932 . - Note—The values used for stocks and for bonds not sub- ject to amortization are those furnished by the Na * Convention of Insurance Commissioners. Silver Shipment Moved. BALTIMORE, March 1 (Special). —A heavily guarded shipment of B e ,000, m I from the Baltimore . yflmewl.unc Co. to the Baltimore & Armed with ls and riot guns, police rode in i cars g and Tollowing the trucks bea the silver. Officials of - the Railway Express Agency, Inc., said the silver was being ut P up, declined to reveal t.h.:‘duun:zlan. STATEMENT OF THE GonprrioN National Union Insurance ompany ngton, D C. on the 3ist dsy 09 Tequired under Section 647 of 1 Disiriet of Cofumpia o O Law for the INGOME. Net premiums . Total interest and ‘rents. .. Total income .......... $05.540.39 $61.635.03 33.905.30 DISBURSEMENTS, Net amount paid policy- holders for 1o Al other disbu; 5 Total disbursements . A s. Real estate ... . .$140,000.00 Morteage loans ‘on real ‘es- Laf .. 310,850.00 21,983.75 3,52 9,855.30 367.40 9.549.71 4,537.08 $904,086.79 Cash compan: Deposits in banks Arents’ balances . ts due or ac 6,462.77 172.12 $400,174.95 (agents’ balances prior Oc- ces pri i 5.00 ‘Total admitted assets ,,.$499,169.95 LIABILITIES. Net unpaid claims . Total unearned pre up Surplus over all liabiiftfes. Total . $409,160.4 NET PREMIUMS WRITTEN DURING THE YEAR. » District of .03 $60.255.2! Vice Presid cretary. bed ‘and sworn ‘to before me P e of February, CHAPMAN W, FO Subgcrii il . Notary ‘Public, D. . URING the past year this Company has main- tained its strong position in the life insurance field. Metropolitan’s life insurance issued, revived and increased in 1932 amounted to more than Three and a Quarter The income for 1932, the largest in the Company’s his- tory, showed an increase over the previous year of $14,859,229.33 and amounted to $921,953,100.70. The Metropolitan in 1932 "-—paid to policyholders $562,804,650.79 ‘—added to policy reserves $109,755,306.00 ‘—set aside for dividends to policyholders in 1933, ¥ $101,685,956.00 —increased its contingency, reserve by $26,550,000.00 —increased its surplus by $13,541,501.95. The assets of the Company at the end of 1932 were $3,769,372,425.28, an. increase of $179,256,771.56 during 1932. New investments made in 1932 amounted to more than $300,000,000 and cash on hand was increased to After making provision for policy reserves and other lia- bilities, and after the apportionment of $101,685,956 for dividends, the Company held, on December 31st, 1932, a contingency reserve of $43,000,000, and a surplus of $240,811,739.47—a total of $283,811,739.47. The strength of a life insurance company lies in the spread of its obligations over a long period of years and in a sound policy of diversification of investment pursued Pay Roll Is Increased. NEW YORK, March 1 (#).—General Motors Corporation announced that the number of its employes in the United States increased 2917 in January, the fifth consecutive monthly gain.. In the past five months employment by the company rose 29,293. Alf h this reflected seasonal influences, cor- Bell Found After 60 Years. After having been lost 60 years, the bell which originally hung in the tower of the Cumberland, Scotland, Parish Church has just been restored to the SIATEMENT OF THE CONDITION OF THE The Conservative Life Insurance ofr 'll::" ’;lz. Va., on :rh:d:”.;edl of ,"1032. ‘a8 ‘required under Bec- tion 7 of the Code for the Biftrics o Colimbiac & LAY New premiums ..... Renewal premiums . um {ncom and ren Other income ........ Total income DISBURSEM] . Net amount paid for losses and red endowments $381,583.27 ents to polic: 678,004 28 42553258 Total disbursements ....$1,485,120.13 ASSETS. Real estate ............. $2,008,860.00 Mortgage loans ‘on real ‘es- . 1,844,101.38 m due snd acrrued ... ... Net_amount of uncoliected and deferred premiums All other assets .... Gross assets . . ... S| Deduct assets not admitted 11 Total admitted assets ....56,413, 89,687.51 154,880.42 66.164.90 Other poiicy Teserves Total policy claims Other liabilities .. Capital paid up Unassigned funds (surplus) Total .$6,413,705.58 Amount of ‘ordinary ‘business written during the year, outstanding December :11.$33,532,199 Amount of ordinary business written in_the District of | Columbia_during the year, outstanding December 1. 21,000 G. W. HILL, ‘President. CLEM E. . Secretary. Subscribed and sworn to before me || this 24th day of February, 1933, (Seal.) H H. LONG, Notary Publie. | | B Cash Bonds—Fed Bonds—Railroad . . . Bonds—Public Utility . Bonds—Miscellaneous . ‘.- . %, Metropolitan assets consist of 8TA ] cg‘ ;rhg: CONDITION Berkshire Life Insurance Co. Qf Pittsfleld, Mass., on the 3ist day aof December. 1032, as reguired under section 647 of the Code of Law of the District of Columbia. New premiums . Renewal premium: Total 1 Total Interest and Tents. Other income ....... Total income . notes ... Bonds and 'stocks . Cash in office and_deferred All other assets Gross assets . Deduct assets not ‘admitted Total admitted assets .. LIABILITIES. Net reserve, required b: $43,803, Other policy reser Total poliey claims Other Liabilitles .. Total . Amount of ord: JOHN BARKER. ent. ROBERT H. DAVENPORT, Secretary. Subscribed and sworn to before me this | seventeenth day of Februa 1) OLIVEI My_commission expires Febr FRANK T. KO and iates are proud to represent this company in Washineton, Offic 601 " Union Trust uilding. > e s e ° o o o o o - , Stal e and Municipal . STATEMENT OF ‘CONDITION Northwestern National Insurance Company cf Milwaukee, Wisconsin Fire, Windstorm, Automobile, Inland Marine On the 81st day of December, 1932, 85 required under Section 647 of the Code of Law for the District of Columbia. Net premiu s 045.108.68 Total " interes b7 2 3 Other income 74,133.40 Total income ¢ $4,782,968.19 All other disbursements. Total disbursements Real est; Mortanee® esta est Collateral Toans " Bonds and stocks Cash in" company’s Deposits in banks . Agents’ balances Interest and remts due or accrued ..... All other assets $776,962.78 1.798:208.00 16,000.00 2 LIABD Net unpald claims Total unearned prem Other liabilities Capital paid u Surplus over all liabilitie Total Ocean " marine otor_vehicles Earthquake Inland navi- gation and t 1 a nspor: tation Tornado, storm D P. L. M. STUART. tary. Subscribed and sworn to before me day of February, 1033 A PALM, ‘Notary Public. Milwaukee Conpiy, My commission expires May 24, 1936. “(Scal) METROPOLITAN LIFE INSURANCE COMPANY Annual Report to the Holders of 42,672,418 Life Insurance Policies through the years under expert guidance and in accordance with conservative investment limitations prescribed by law. -t 1.70% 7.70% . 18.00% 9.03% . 3.28% Stocks— (Preferred 2.028%; Common 0.002%) 2.03% Mortgages on Real Estate City 34.42%; Farm 4.38% . . . Real Estate (including foreclosed properties) Loans to Policyholders . . . . . . . Premiums, deferred and in course of collection 2.01% Interest due and accrued, Rents, etc. 38.80% 2.78% 12.63% 2.04% The favorable mortality experience of the Company in 1932 has followed its careful selection of business and the continuation of its health and welfare activities. During the year 1932 many leading corporations of the country paid millions of dollars to the Company for con- tracts covering their employees for Group Life, Health and Accident protection and for future Retirement In- comes under some of which continuing payments on the part of the Metropolitan will extend into the next century. Life insurance is the most effective way of providing for the Report for the Year Ending December 31, 1932 . Us la."dnu with the Annual Statement filed with the New Yorh State Insurance Departmenf) e e o o o upon Contingency Reserve . . Unassigned Funds (Surplus) e o o o o o . daa L $3,769,372,425.28 of any other financlal institution in the world) $3,195,064,184.00 $50,648,419.00 . 48,756,772.00 . 2,280, 101,685,956.00 188,810,545.81 240,811,739.47 769,372,425.28 $921,953,100.70 $14,859,229.33 $179,256,771.56 future of one’s self and one’s dependents. Through the Paid-for Life Insurance Issued, Revived and Increased in /1932, $3,273,178,268. Ordinary, $1,571,593,135; Industrial, $1,555,395,118; Group (Excluding Increased) $146,190,015. Life Insurance Outstanding ,765.00 43,000,000.00 ional Ordinary Insurance « « « « « Industrial Insurance (premiums payable weekly or monthly) . Group Insurance « « « « o o Total Insurance Qutstanding « « Policies in Foree (including 1,349,680 Group Certificates) « « « (More thas these of amy other lifs insurance company in the world) Accident and Health Insurance Outstanding Principal Sum Benefit Weekly Indemnity o« « o ¢ o o « o e oo o o Dividends Paid to Policyholders to date plus thosedeclared for1933 . « « ¢ o« « This is a mutual Company. There are no stockholders. All of its assets are held for the benefit of its Policyholders. METROPOLITAN LIFE INSURANCE COMPANY - NEW YORK ; -LEROY A. L!NéOLN. Vice-President and General Counsel $9,903,141,559.00 6,535,046,064.00 2,542,555,585.00 $18,980,743,208.00 42,672,418 $1,345,345,796.00 12,341,911.00 $823,137,177.61 “