Evening Star Newspaper, February 25, 1935, Page 16

BONDS ON THE DOMESTIC BONDS. h Low. SLOWER PACE SET AT STEEL PLANTS . Many Factors Are Expected to Send Output Up After Recession. Alabama Pow Poy Alabsma_Pow Aluminum_Co 55 E 55 By the Associated Press. CLEVELAND, February 25—Steel production declined three points to 50 per cent last week despite continued heavy buying, the magazine Steel says today. Surveying the situation the mag- azine finds a dozen or more fac- tors bringing pressure to send the | € production trend upward again. “Prices on practically all iron and steel products have now been extend- ed for the second quarter and this has removed one of the chief uncertain- ties which led many important con- sumers to withhold further commit- ments,” Steel mentions as one factor. “A stabilizing influence also has resulted from the gold clause de- cision,” it adds. “Automobile manufacturers look for an extremely strong retail market for the next four months. “Manufacturers of agricultural im- rlements are second only to the auto- mobile industry in crowding mills for delivery and expect no slackening in their production for several months. “Pay rolls in iron and steel and leading consuming plants are the highest in years. and despite sporadic disturbances at soine metal working establishments, serious labor difficul- ties are not anticipated.” The magazine also notes the United | States Steel Corp.’s authorization of a $47.000,000 expenditure for new equip- | ment and of Bethlehem Steel Corp.’s | contract for its new $20,000,000 mill #( Lackawanna, N. Y. | Steel says there is an increasing ac- | tivity in the market for shapes and | J remarks that “the fist large buna;kffi}:‘,“‘p“;' &Ll TR fide new pipe line project in many 3300 s s x| months is represenied in the bids for | Fibby McN&L ,‘,‘}]":,‘,'.",":,‘.':‘,'.:’ February 27 for 9.250 tons for an ' La PaL b T2 ola g 88-mile line in California.” . : The magazine's scrap composite last week dropped 17 cents to $11.58 despite a purchase of 12,500 tons of No. 1 scrap for $13 by the Carnegie “R:: l:“““-l Steel Co. The finished steel index re- \\4 n s T o5 s mains $o4. Mont LH&P 55 % 2 94 941 5 llb'u 952 2 78 TRz Bid s et Cent_Pw t 58 Cn 8t El 3%s C St P&L 5% Ehf Bl ¥ Gin 8¢ R 5125 Clll!g Service A 5s . Tl 10K 1080 108 )L 1041 1odis 104 - 2 10 1055 1085 108 5 104'. 104% 1044 R s Balan’e i¥as"3 Det C Gas 6s s A 0 Emp R 5125 Firestone C M_5s '48 4 0lTy 6034 63 & xo 81 8By W 0424 Josse m\ 3 97 803 9035 907} 4410 45 1510 2 10dna 1 Kresge . L1012 10112 10115 10634 10 1104 104 Estimates Drop Further. . 7% 0 NEW YORK, February 25 Estimated steel production for the current week indicates another small | N decline. according to the weekly re- port of the American Iron and Steel Institute issued today. The institute placed the operating ratio at 47.9 per | cent of capacity, against 49.1 per | ¥ cent in the previous week and 52.5 per | 17, | cent a month ago. sl - : R The decline from the previous week r St B | s 1.2 points or 24 per cent. The i average operating level for this week | & year ago was 45.7 per cent. PHILADELPHIA PRODUCE. PHILADELPHIA, February 25 (#). ~Live poultry—Fowls, Plymouth| Rocks. fancy. 21: mixed colors, 20; ‘White Leghorns, fancy, 18: ordinary, 17: old roosters, 13al4; staggy young roosters, 15a16; new hatched broilers, Plymouth Rocks, 18a19: mixed, choice, 16217; turkeys, young hens, 24a25; 20a22: ducks, White Pekin, 18a19: mixed colors. 16al7; , mixed color, 15al6; black, ). — | Nat | Neisner Bros Nevada Calif 5s New Eng G&E #03. 6334 401 138 | 2 Bane !tll' 1 e 1043 I 104 108 | R 8 106 | 111% | -, Dressed poultry—Fowls, 172221, as to weight; old roosters, 15!;al6'z; bes S &L 1 capons, 26a33, as to weight. ch CnP'3s A "53.. i HUDSON OUTPUT SOARS. ‘ 35 49 1l 37 36% 36% NEW YORK, February 25 (§] e.}Sh W&P 4las A 67... ¢ - el e minacugig - promam | £ SEE 1100 '*80 i ihe B of the Hudson Motor Car Co. is far 8 . ahead of the mark set a year ago.| Sathas W3¢, s'o‘ Up to February 15, and Terraplanes had been shipped. | 59,5 s as compared with 7413 cars up to| soumN G 6s 'u . the same date in 1934. | Souw GEE 85 & ;07.. 1 Staley Mfg . \suna G&E 6 &E ey 98 /. income was 5838208 VvS. 1934, operating S!Jnd PAL L $1.094,116 in Janua B p of Il 4735 Swift Co 55 40 Swift Co 55 '44 ‘l'enn E Texas Elect 58 &L 55 lonly 4,288,000 pairs under the 1929 THE EVENING STAR, EGG QUOTATIONS VERY WEAK HERE Move Down 2 to 41/, Cents as Receipts Register Large Increase. WASHINGTON, CURB MARKET Pow 58 n Pub Ser 58 '70 ‘ 2 105 . 10("/; ]lil)’x l.flfl" .. 1% 71% 1% - 107% 107% 107% 55’1 55 56%e 108 108 .111'/.1111/. = 8 ,? Egg quotations were very weak on the Washington produce market today as outside advice indicated sharp de- clines at other Eastern cities. Capital prices declined 2 to 4l cents. Re- ceipts showed a large increase. Live poultry was steady to firm. The summary with egg, live poultry, 37 ' {fruit and vegetable prices furnished by the Department of Agriculture follows: BUT'I'ER«—OIIQ nnund prints (03 score) tub, nd_prints (90 _score i u:b 36: 1-pound Prints. (88 ‘score), 36; 74% 74% ©100% 1004 Wis P Ser A 65 '5%. .. 100% 100% FOREIGN BONDB Bog MB 7s ‘47 M&N. . Chile MB 65 31 mat Den Mll Bk b8 " Ger Con Mun 0s 4’ G!l‘ Con Mun 78 '4‘; 1B 713 Tt 'S pow 0e & '4 1 100% 100% a0y, Rubr Hous 6l3s '58 Terni 8o 6%as A '53 Www—With warrants xw—Without warrants. n—New. wi—-When lssued. st_(stp)—Stamped ~Nuomhuuy " inpaired by maturity. 1Companies mwneu in receivership, SH[]E SALES LIELY .2 TOHITEYEARPEAK < February Output Expected | at Highest Comparative Mark Since 1928. eal G8—Market very weak as outside ad- vice indicates a sharp dro; on other Eastern ar to 47, cents lower. Weak at these prices as receipts over the week end .!‘how tre : Guvérnme;!ll ‘{lded nd dated brown e “TiVE POULTRY— Market st and brices ¢ Fowl: ‘Colored. 3l sizes u.xfi'"nn’.:'r‘fir 11 "}OX;CI’I n Allll w]ll:leln chicken: a1 sizes, 10 DDHEH Pl’mo\llh R:Cke‘x l!!.l s!z:” £ e ds. 2 Fruits and Vecetables. uoSileg In large lots by ori o} e sinal receivers 0" Ore unbrokEn Sack B torEUh, Arrived: moderate: ‘demand light: market Virginia. Staymans, U. 8 No. 1 mintmum 3 three Special Dispatch to The Star. e NEW YORK, February 25.—Replac- ing the lethargy which spread over the shoe trade during the Summer of 1934, when markets were disrupted by the price instability which resulted o 1 mlmmum from the impending dumping of hides 'I I from cattle slaughtered in the drought- stricken areas. an abrupt expansion started during the final quarter which has given an impetus to operations in all divisions that appears destined to carry both production and distribution to new peaks during 1935, according to a survey by Dun & Bradstreet, Inc. “Fall sales of manufacturers were 10 to 15 per cent larger than in 1933, while with retailers gains of 15 to 25 per cent were not infrequent. = “Shipments dof shoe mnnulact}xretl;s plies light c«;l:mndd#m‘ market steady ave been steady since the first of the y 5d stocks s vear, with oapasity sehodules general, | Bsy, around 175, O stock? New ¥ in order to provide for commitments, |, GERERy; one | Florida® arrived: rixo which are in excess of those placed | Supplies moderate d!mn:d‘l.ll;htenm::(}l during the preceding season by ap- |ieady: da 10-inch crates washed. proximately 20 to 25 per cent. Most of the leading factories report orders sufficient to keep present working forces busy throughout the entire sea- | son, which may be prolonged until well | after Easter this year. | “Even though shoe output of me‘ factories of the United States in 1934 | | was only 1.2 per cent under the 1929 | total, the comparison of the profits of these two years was sharply out of alignment. In fact, profits with some of the large manufacturers were | smaller than those for 1933, as the | > | imposition of codes added to produc- | | tion costs, but more serious was the collapse in hide and leather prices during the early part of the Summer. “*As production of shoes in 1934 was Delicious_ u 87'No 115a1." 2-inch ‘inimum. 1 4081 50 .~|nrh mmmmm 1.6581.75; Black Twies, U, <inch minimum. 4 minimum al 40 1.50. 5 215 sinciy As-mrh minimum. 1.3 nch "No. 1. mi Boxes: Washington: me- 10, Jareg sizes Staymans. extra fancy. al 90: Delic xtra fancy. 2008 urg | Bonums. U s. 1 al.3 B “inch ¥ mlnlmum 65: a-inch_mini 85 1.00a fancy en! tra 1.65a° Virsinie combmluon extra fancy and fancy Romes. 1.65 Jonathans and Grimes 1.35a1.50: S(l!- mi cnmhlnluon exln hncy lnd fancy. C srade. Delicious. n.uon e)urn (lncy 2hd Tanes. § 368 C & ABBAGE-—One New York, one Penn- vvania arrived: two broken and two un- roken cars on ' track. New stock: Sup- rEcts 1D two_California Qe car reconsigned: five broken unbroken cars on track. Western “Supplies. moderate: demand mod- market steady. Arizona and Cali . Icebers type. 4-5 Southern stock: Sup- very slow: market k Florida. Eastern Crates. Teebers tvpe. 2-dozen. 1 o0a1 Onion Prices Steady. ONIONS—No carlot arrivals: two broken and t®0 unbroken cars on track. Supplies | moderate: demand moderat, arke! steady. 'Michigan New York nnd Shio pourd Sacks veliows. U S, No. 1. mostiy PEAS—No carlot arrivals: thne broken and one unbroken cars on track. Supplies moderate light: market “steady. , Leleonones. OES—One Florida “seven Maine one New York arrived: 10 broken and 14 unbroken cars on track. Old stock: Sup- Plies, liberal: demand ‘moderate: | steady New' York 100-noun whites. U.'S. No. 1. 90al1.00: pound sacks Green M Soer” erate total, conservative estimates place the output for 1935 at slightly in excess | of the figures for that year. which reached 361,407,000 pairs. January | | production, according to preliminary figures, was 26,500,000 pairs, the high- est for that month since 1929, while the estimated rate of February pro- duction was at 29,350,000 pairs, ex- ceeding all comparative totals since 1928. Although capacity schedules now rule in the majority of the leading centers, the backlog of orders is suffi- cient to. maintain current operations until well after Easter, with the | strongest upturn for the year expected | I in the third quarter.” 5” No Russet Burbank: 25:1{ . &:nnues m;?!rdl arket steady. orida., IBIN Triumphs PN corion ari: reconsiened: one broven and tnree broken cars on track. Supplies moderate: demand light: market dull. Texas, bushel baskets mostly around 1.35. € TOES—One North Caro- line arrived Supplies 1 steady. (llr con- dition. 90al.00 STRAWBERRIES—Two Florida by ress arrived: two broken cars on tr ruck receipts moderate; supplies mod: erate. demand moderate: market steady. | Florida. pin 15a16: slightly gree Sent toyou on 10DAYS FREE TRIAL THE POWERFUL NEW DELUXE MODEL “K" DOUBLE CASH ALLOWANCE TRADE-IN OFFER—FOR LIMITED TIME We will give you a cash allowance equal to double our regular trade-in allowance for all Class “C” old cleaners traded in on the powerful new DeLuxe model Eureka during this great national introductory campaign. Act at once! Don’t delay! > NOTE! 70% of all old cleaners are in CLASS “C” EUREKA “HIGH-VACUUM” TEST PROVES Old Cleaners Do Not Clean Thoroughly Just operate this sensational new DeLuxe model Eureka onyour rugs with the bag off. See the unbelievable amount of dirt discharged after your old cleaner has done its best. 724 - 114, STREET . N.W. NAtional 2700 FREE Avoid unauthorized agents. EUREKA VACUUM CLEANER (0 factory inspection given to all Eureka users— with New Type Brush for Lint, Hair and Threads AT THE SPECIAL LOW INTRODUCTORY PRICE only $395=0 A sensational value! Powerful but light — easy to opevate. Specially designed for beavy duty service. Just imagine! Now you can obtain a powerful new deep cleaning DeLuxe Eureka Model “K” at the special low introductory price of $39.50. No longer need you tolerate the inefficiency of your old cleaner when you can obtain this new DeLuxe Eureka at such an amazingly low price. Floor polisher, demothing sanitor and other accessories are available at small cost. Try this new Eureka in your home free—then decide. $ Phone at once! Request Free Trial in your home. Only a limited number are available for this Special Intro- ductory Free Trial Offer. SEE THE NEW EUREKA BEFORE YOU BUY ANY CLEANER 95 Balance small monthly payments— DOWN small carrying charge o o e e e e s e PHONE, OR MAIL COUPON AT ONCE Please send the new improved DeLuxe eka to me on your special free trial vely no obligation. ] rOBS. b *% AR o CAUL! L0, LIMA Ders, by light ci D. C., 12%: truck receipts, 15816 per pint; fair cnndmon 11a12% per pint. Cafiot . arrivals: Supplies light: " demay mndenu Illrke‘ steady. Cuba, approxi- ly 10-pound bu:eu ripes, wrapped, « arrivals: no cars on teack. nd ULIFLOWER—No _carlot three broken and two unbroken cars on track. " Supplies moderate: demand HEnt: market steady. California, crates. 1.568 G track. upplies maderlu, de- market steady. Bushel ham- 3.0023.50: Florida. 3.0¢ Green Beans Weak. OREEN BEANS—Two Florida arrived: roken and two unbroken ‘Approximately 00 °packages by €58 arrived: supplies liberal: demand Tt at e, moni araang S15D: ; ; round $1:00, PLANT. 8 demand wcub-. 1% bushel oplles light: demand Cuba. bushel crates. —Annraxlmmly "on packs es by EXDMH arrived: lunr ies_moderate: mand slow: market dull Hnrldl hushel white wrappe ir condmon low. est. 50; two track. n.gn ICUI glow: market steady. 3.50a: 2.001 EPPERS—Supplies moderno dpmnn market steady. Flor ushel ey Fopian L hunne! hates BROCCOU—OHQ Florida_arrived; one unbroken car on. track. 8u phes light: demand light: market stes c s: California. 4.00: Florida. LE_Supolies | man t; market ‘steady. Virginia. bushel oasiets. 260. LLARDS—8upplies mo mand moderate; market slighf South Carolina. bushel bnkel.s hllnhfir. L ARB—!HFDHM moderate: demand light: merket dull. " Michigan. S-Ib. car- ons.” 50c. CARROTS—Three California arrived: one broken and four unbroken cars on track. cuuomu Western_ lettuce crates. Ya- : Florida. crates. 3 dolen 14 Nev/ York, ucku 50-1bs. 75, ¥ BEETS—Tex Florida. crates 3% doze: HONEY xas, crates. Bhws=Chlie: » crates. 2.00a2.25 1.50a JCalifornia Al few. ai GES i Calitornia two Florida -mvea l(uvoflbmken and 10 uNnnroken cars 1.75a speclnl ‘marks higher: 1.00a1 4.00: BANAN. broken car on track. L. C. L. Express Arrivals. Florida. 42 bushel baskets cucumbers, 85 bushel letts 57 el bas- Rets liima. beans: 55 crates limes, 1 bushel | parsley, bushel baskets green 24 crates peppers, I8 bushel baskets 75, 165 bushel ‘baskets squash. K3 Dushel baskets steen bean: )-Dound crates tomatoes: Pennsyivania, 916 4-pound baskets mushrooms: Michi 24 cartons mixed vege- . 39 crates. unknown origin one un- | gan. pounds_each) 'rhubar] MONDAY, FEBRUARY 25, ‘of Henry L. Bogert, 1935. BROKERAGE FIRM REVEALS CHANGES Gilmour and Walker Take Senior Partnership in Eastman, Dillon. Special Dispatch to The Star. NEW YORK, February 25.—The most important. changes in the per- sonnel of prominent firms holding membership on the New York Stock Exchange to be announced in several years will take place on March 1, with the admission of several prom- inent investment bankers to the part- nership of Eastman, Dillon & Co., which has been engaged in the in- vestment banking and brokerage bus ness for more than a quarter of a century. The changes, according to the an- nouncement, will result in the retire- ment from the active business of the firm of Herbert Lowell Dillon, one of the original founders, and the taking over of the senior interest in the firm by Lloyd S. Gilmour, Blyth & Co., Inc; James P, Magill of Philadelphia, at present connected |~ with the firm, and Frank F. Walker, also formerly with the Blyth organ- ization. The changes will also mark the re- turn to active business in Wall Street jr. a former partner of Eastman, Dillon & Co, who retired from business several years ago. Mr. Dillon and Arthur C. % RINES-—Florida. ‘a-hushel boxes, | ,,4:.,, g "',:E‘,fl""‘“”" s. | Boyce will be limited partners of the w firm. In addition to the above, and in the order named, the following also ‘wm be partners of the new firm of Eastman, Dillon & Co., Philip Brown, Arthur C. Boyce. Gilmer Siler, | Thomas C. Eastman, member of the New York Stock Exchange; Loring Dam of Philadelphia and H. Lawrence | Jones, member of the New York Curb Exchange. | In announcing the proposed organ- | Brewine o shington D.c. S formerly of |, ization of the new partnership, Mr, Gilmour stated that its policy will be to co-ordinate the municipal bond, general investment and underwriting activities of the firm with the brok- erage business, but that greater em- phasis than heretofore will be placed upon the bond business and under- | writing business, which, in the opm- ion of the partners of the firm, is| expected to show greater activity within the next few years because of the dearth of new financing experi- enced since the depression, —g TRICO PROFITS GAIN. NEW YORK, February 25 (A).— Trico Products Corp, for the year 1934, had net profit of $1,771,558, equal to $4.72 a share of capital stock, egainst §1,418277 or $3.78 & | share in 1933, U. §. TREASURY, POSITION. By the Associated Press. The position of the Treasury on ruary 1 was: Receipts. $! 847, exoenditures. $39,155.865.05; hllnntc O83.096.411.20; customs receipts for the month. £18 487,744 Receipte for’ the fscal year (since July 1.8 136531 expenditures. 34.- (including 5.5 excess gold | Dts bri 1934 (com- parable dl'.e "ast pear). 806114 80N TT: expenditures, $79 268.999.90; net balance. S0T0.007 59 o0 . customs Teceipts foF the month. $17.713.059.34 (Receipts for_the ' fiscal ‘year cxpenditures, 4.1 CRUDE OIL PRICES. . Pebruary 25 (#).—Base : " Midcontinent ‘area. Okiahoma-Kansas, gravity scale to $1 08: North and North Central Texas. gravity scale to $1.03; East Texas. $1 flat: North Louisiana-Ar! Gulf Coast Louisiana-Texas scales to $1.17 and $1.14; West Texas (Permian Basin). 70 cents and 75 cents flat: “Texas Panhandle W1 cents and 91 cents. area—Salt Creek, Wyo. $1.08. _Eastern area (Bracford-Allegany) in_Southwest Pennsyl same grade in Eureka 1 grade in Buckeye lines eravity scales to Rocky Mountain gravity scale to sylvania grade same grade lines_ $1.87 ne: same s : Corning STEEL QUOTATIONS. YORK, February teel Y00 pounds. 105 Pitlsbura hot roiled, .00 black sheets, hot 1.80. NEW prices per Blue annealed sheets. galvanized sheets. i1 rolled. 2.45: steel bars, ! | Cen Han. BI 4 Chase Nailonal | “150) [Lnrm Bk. & Tobacco Futures Trading Starts on Produce Exchange | By the Associated Press. NEW YORK, February 25.—Trad- ing in tobacco futures opened today on the New York Produce Exchange, The first delivery month is May in contracts for burley and flue-cured tobacco. Each contract consists of ;Otzgo pounds of unstemmed, steam- r] or sweated tol grade“and type, of o;‘eccc‘:-aop‘v‘e‘an:{m output of one packer a ::lfilsmn:d o!lslu and w:n?mm t:::ner- ally u. or the f of toba tendered. e i Price changes are hundredths of a cent, amounting to $1 a contract. Cl are limited to 3 cents a po\«u’ldl‘:u’()igleys Trading in tobacco was inaugurated on the New York Tobacco Exchange last year, but the market was sus- in one one- the fraction | pended recently. e NEW YORK BANK STOCKS YORK_ Pebruary 25 ().—! York Becunny Dentons Rasociation; e (Quotations as of 2 o'clock.) Bank of Manhattan (13).. e Bankers' Trust .. | Brooklyn Trust uv en Tr. 1.80 Commercial (%) Cont. Bk. & Tr. (80} Corn Ex_ Bk. & T. (3). | Empire Trust (1) . Fifth Avenue (14a) Eirst Boston Corp. (12 Eirst National (100) Guaranty Trust (20) Irving Trust (1) Manufacturer's Trust Wi nsas. gravity scale to $1.0:. | National City eravity | New York Trus( i Public_(1%2) Title G, United St Tr. a Including extras. RUBBER FUTURES EW YORK. February 25 (#.—Crude mbhrr futures opened barely steady. 4 to 13.06-10: Ma Beptember. 1. MONTREAL SILVER. MONTREAL. Februarv 25 /P —S8ily futures opened stronger: ercl May, 56.15 we July, 1 6. Always Tells! ENATE BEER is unequalled for flavor. It is recognized everywhere as having the rich flavor that can only come from the highest quality ingredients . . . the greatest skill in brewing . . . and the mellowness that only time can givel Ask for “Senate” wherever beer is sold CHR. HEURICH BREWING CO. WASHINGTON, D. C.