Evening Star Newspaper, April 16, 1935, Page 18

EGG PRICES TAKE UNEVEN COURSE Nearby Offerings Unchanged but Government Grades Ease Half Cent. Egg quotations were irregular on the Washington produce market today. Neasby ungraded offerings ruled un- changed but Government grades de- clined half a cent. Live poultry was steady at unchanged levels. The summary with egg, live poul- try, fruit and vegetable prices fur nished by the Department of Agricul- ture follows: BUTTER—One-pound prints (92 score), 88 tub. 1-pound prints (90 score), 37 und prints (89 score), 36: fa o n.l dlh ard 7 Broc medium, CbaGaD JouEDS, '4 0087 00 £.00210.00: Tamb: Iambs. EGG : calves. Spring mixed: unchanged on nearby ungraded eggs, bus weak and 1y lower on United States Government graded eess - Current receipts. 2lazi: hennery 23; Government graded and white - okgs Including grading and U extras. large. 27: %3; U. 6. standards, o FIVE POULTRY Market steady at un- 3 B 00: ghanged prices. Fowl: Colored. 20822: Leghorns, 17a18: rooster. Spring chickens. Leghorns, mouth_Rocks. poun X i turkeys, a1 Ply 225 hens, Fruits and Vegetables. Sales in large lois by original receivers up to 8 am_today APPLES—No carlot arrivals: one broken and one unbroken cars on track. Bushels Supplies moderate: demand moderate: ; 213-inch mini- 23 \nch “minimum. 1 S ‘No i owns. U. S. No. 1 1 (10 2%3iinch minimum, B ‘Black fnch’ minimum. 150, few higher; Twigs, U. 8. No. 1, 2} ch minimum, 213-inch * minimum.~ 3 90; Vi um. 2 ® Lowees, 00a1.25; 3-inch’ mintmum ; utility grade. all varieties. 758 Winesaps. ncy inia. cnmb\rnuun extra (mncy 0wrys. 1.50al.65: Staymans, Delicios, 15082 B0: C grade. 1.35n E—No_carlot arrivals: no cars onC tracke ~ Supplies moderate; Aemand moderate; market steady. Southi Carolina 2-bushel hampers. pointed type. truck ;::::gh pu‘kefi locally. 2.00a2.25; freight CELERY—No carlot arrivals; one broken and three unbroken cars on track. Sup- plies moderate: demand moderate; market 10;inch crates. washed, UCE—Three Arizona arrived: seven broken and eight unbroken cars on track. Western stock: Supplies moderate: demand moderate: market steady. &rp crates lceherg” type. f NIONS_—On a arrived: two brukcn Ahd Rve unbroKen cars ‘on track, Fpl‘e( moderate: demand slow: market Indiana, Michigan and New York, an pound sacks Yellows, U. 8. No. 1, mosuy around 2.75. No carlot, arrivals: no cars on 'nck Supplies i demand moderate; atker Sliahtly stronger. South Caroline, ushel hampers, 2.50a2.75. Potato Prices Dull. POTATOES—Seven Maine arrived: 7 broken and 11 unbroken cars on_ track. Old_stock: Supplies moderate: demand moderate; market dull. Maine. 100-pound sacks Green Mountains. U. 8. No, 1. 1208 14 ew York 100-pound sacks Round Whiies 0. S : Pennsyl- market varrels 8.50. no cars demand Mary- a5 No ' ‘carioi arrivals: no cars on track. Supplies light: demand light: market steady. Crates, per pint: andn. 01 : Louisiana, 12%3: Caroltni Gaartorates Tair fo ordinary condmon L(Illltiflll per crate. poorer lower. SWEET POTATOES—No carlot arrivals: o cars on track. Supplies moderate, de: nd e:” ma: steady. Nort Eiroling, bushel umms “buctic Bicans and Nancy Halls, 1.00 TOMATOES—Two Florida arrived: one broken ARG Six UNroKen Cars on rack: Supplies liberal: demand slow; market steady. Florida, lug_ boxes, turning. ‘wrappéd, tx6. L80s gondition. " 135 6x7. "1.258 low CAULIFLOWER—One California _ar- rived: one unbroken car on track. Sup- plies 'light: demand moderate: ~market steady. California. crates 2.00a2.15; few higher’ {air_condifion. | 5 SPARAGUS—One South Carolina ar- rived, one broken and ohe uRbroken cars on track. Approximetely 500 packages by express arrived. S pplies moderate; de- mand good: marke, South Caro- lina_pyramid hes, con- 0. 8 225, New Bupplies l\xhr and " light: steady. Florida, double-head Spaulding Rose, U. §. No. 1, igher. SPINACH-_No_carlot arrivals: on_track plies very light tioderate; marker sliehtly suonier land. bushel baskets. 1.10; STRAWBERRI few poorer kB 5: ‘choic pyramid crates. dozen bunches. green_ medium to large size. 4.00a4.50. MIXED VEGETABLES—No carlot rivals: no cars on track LIMA BEANS—Supplies light: demand moderate; market steady. Florida. bushel hampers. '3.00a3. Green Beans Steady. GREEN BEANS—One Florida arrived: gne broken and one unbroken cars on Supplies moderate: demand m: arket steady Florida, bushel green, flat type, 1.752%.00: few ar- Ders. EPPERS—Supplies light: demand mod- erate; market steady. Florida. 1'-bushel crates. green, choice, fair condition. 2.00 22,50, SQUASH—Supplies _moderate: demand light: market steady. Florida, bushel ham- pers.’ white. wrapped. 1.25a1.50: fair co dition. 1.00: Yelow crooknecks. 1.50a CUCUMBERS—Ore Florida arrived: one broken car on track. Supplies moderate; gemand leht: market weak. = Florida. bughel baskets. fancy. 3.50: chol DISHES - Supiies light: demand HGht: market steady. North Carolina, bushel carlot arrivals; _two broken and one unbroken cars on track. nia. Western lettuce crates. URNIPS—No carlot arivals: no cars on Georgia. crates. mostly 2.00. ADOS——Cailfornia. boxes. 1.75a 2.00; poorer lower 1.75a GRAPES—Argentine. lugs. white. CANTALOUPES—Mexico. jumbos. and 455 550at.00; standards 5.00: orange pack & 5. HONEY DEWS—Chile slnndnrd crates, 1.7582.00;_jumbos. ORANGES—Two oFnis. one Florida arrived: two broken and mine unbroken cars on track. Florida boxes, No. 1. 3.75 24.25. as to siz GRAPEFRUIT-—Two Florida {hree broken and four unbroke track. Florida 5. N rrive Five Mgl arrived; two un- broken cars on tra Li ne ‘California arrived: one unbroken car on track ROCCOLI—No catlot broken car on track. L. C. L. Express Arrivals. South Carolina, 445 crates asparagus, 64 bushel baskets peas: California, 55 crates dos; Fiorida, {16 crates egepl: baskets parsiey. &4 bushel 5 hel hampers green und Crates tomatoss: North Care: A5 bushel baskets lettuce. 35 bushel ets radishes. 55 crates strawberries (40 uartcrates and ushel “baskets turnips: Pennsylvani a8 d_baskets mushrooms: Mich pound cartons rhuba known origin, 14 crates mixed vueuble: —_— MARYLAND CROP REPORT FOR APRIL 1 FAVORABLE Special Dispatch to The Star: COLLEGE PARK, Md., April 16— ‘The condition of Winter wheat in Maryland is 8 per cent above average, according to the April 1 crop survey of the Maryland Crop Service, Pastures are also reported to be above average. Field work has been delayed by the large number of rainy days. The 1935 wheat crop is now indi- cated to be about 6,912,000 bushels. ‘This compares with 7,934,000 bushels & year ago 4nd the 1928-1932 five-year average of 8,648,000 bushels. Stocks on farms on April 1 are esti- mated at 952,000 bushels. At this date last year 822,000 bushels were still on farms. In 1933, April 1 stocks amounted to 445,000 bushels. The 1932 stocks were 1,357,000 bushels. NEW YORK BAR SILVER. NEW YORK, April 16 (#).—Bar sil- ver easy, 1 cent lower at 67%. ¢ arrivals: one THE EVENING STAR, WASHINGTON, D. C, TUESDAY, APRIN 16, 1935. ‘ GENERAL ELECTRIC ORDERS INCREASE Volume for First Quarter 16 Per Cent Higher Than Levels Year Ago. By the Associated Press. SCHENECTADY, N. Y., April 16.— Sales billed by General Electric Co. for the first quarter of 1835 amounted to $40,393,538, compared with $34,- 935,551 for the same guarter a year agosan increase of 16 per cent, Gerard Swope, president, announced to stock- holders of the company at their annual meeting here today. Profit available for dividends on the common stock amounted to $5,390,930 for the first quarter of 1935, compared with $3,921,961 for the first quarter of 1934, an increase of 37 per cent. This is_equivalent to 19 cents a share for the 1935 quarter and 14 cents a share for the 1934 quarter. MONEY MARKET. NEW YORK. April 16 (#.—Call money steady: 12 per cent all day Time loans steady; 60 days-6 months, % per cent. Prime commercial paper. % Bankers' acceptances unch-nl d. Rediscount rate. New York Reserve Bank, 1'z per cent. S e e American Smelting & Refining Co. —Company advanced price of lead 5 points to 3.70 cents a pound, New York. THE SIGN OF WMW! You never have to travel far to find a familiar Esso sign. It's displayed by 30,000 dealers and stations from Maine to Louisiana. Identifying the products and services of the world’s leading petroleum organiza- tion, the Esso sign is a_symbol of satisfaction wherever you find it: NEW YORK BANK STOCKS NEW YORK, April 16 (P —New York Security Dealers’ Association:" (Quotations s of 2 o'elock.) Bk of Man (1%) 1 12V 4 1 *Including extras. e FEDERAL LAND BANKS YORK. April 16 (P.—Pederal Bank s (Quotations as of 2 o'clock.) May & )lav 1811 31 ey 19sedslll FOREIGN EXCHANGES. NEW YORK. April 16 (#) —Foreign ex- change steady: ‘Great Britain in dollars. reat Britain, demand, 4.85%: cables. 4.85%; 60-duy bills, 4.84%5: °6.60: cables. 6.60: Ttaly. demand, . 8.31 ' Demands— Mexico GIty In“New York, real. 100 .91 silver peso). 99.75: Ne: k" in Mont- WHOLESALE INDEX Fertilizer Association Finds Trend Is Upward for Third Week. The trend of wholesale commodity prices continued upward in the week ended April 6 for the third successive week. The index of the National Fertilizer Association advanced to 78.3 per cent of the 1926-1938 average from 71.7 in'the preceding week. The index has now recovered all of the loss which began in the last week of February, and is now at the high level which was reached earlier in the year. A month ago the index was 77.5 and & year.ago 1.1, The upward trend of prices last week was general, with seven of the component groups advancing and none declining. A sharp rise in cot- ton prices was responsible for the textiles group showing the greatest increase, the index rising from 64.8 to 66.5. Six of ‘the commodities included in the textiles group moved upward last week, while two, wool and burlap, declined slightly. The grains, feeds and live stock group led in the num- ber of commodities advancing, with eight items increasing and five de- clining. EQUITY MEETING ADJOURNS. NEW YORK, April 16 (Special). — The meeting of stockholders of the Equity Corp. called for April 15 to consider voting upon a change of the corporation’s charter, has been ad- journed to April 25, 1935. e 150 TONS OF LEAD SOLD. NEW YORK, April 16 (#).—The 8t. Joseph Lead Co. reports that 150 tons of pig lead from Southeast Missouri mines were sold yesterday at $3.556 per hundred pounds, St. Louis. FOREIGN MARKETS. By the Associated Press. P . —Most. “rly le.n gn the Stock Exchan and jerman bon o ares “rfi‘lfl ":fl ossd Ao ~1 unul stocks were 'E ‘todey’ while rentes d-xunn Ang & tlow openine French shares Tecoveréd actively. The —m.dlll was VIH et un iness in res, hnnvn vels: "Tme marker closed in- the Boerse FREIGHT LOADINGS. NEW YORK. April 16 (P .—Revenue freight car lo; won raiiroads reporting today for weel d April : Al Chesapeake & Ohio ‘28 Southern Fl!lgl c RUBBER FUTURES. NEW YORK. Aoril 16 (9.—Crude rub- ber futures opene: 2 to 30 lower. a7, 11.95a70; Fuise T1.85081;° Beptem- T, MONTREAL SILVER. MONTREAL. April 16 (P —Silver, fu- Surned opened ei 7.80b; July, b !ln!tember 070:%" December. MILLIONS OFFERED ATREDUCED RATES Banks and Trust Companies Seek Loan Business on Large Scale. BSpecial Dispatch to The Star. NEW YORK, 16.—~Millons of idle dollars wuxhz work more dili- gently Monday by offering their serv- ices at reduced rates. Thelr willing- ness to work for less money Was an- nounced. officially. at the. money desk on the floor of.the New York Stock Exchange, . where. call . money was re- newed at the record low rate of one- half of 1 per cent, as all the leading local banks over the week end broke their gentlemen's agreement to keep such funds at g certain price. Immediately after announcement of this record low rate—contrasting with the peak of 15 per cent on renewals March 29, 1929—banks and trust com- panies solicited business on a wide scale. One brokerage house that dur- ing bull market days borrowed $30,~ 000,000 daily (and now is borrowing less than $100,000) had money offered to it for as long as 10 months at one- half of 1 per cent. This same house paid as high as 25 per cent at the same bank back in March, 1929. Curiously enough, this low pay for dollars, which likewise means low wages for banks and trust companies trying to put such dollars to work, was without immediate market effect on shares. With few exceptions the shares of banks and trust companies were slightly higher. Usually the borrower of call money pays & slight brokerage fee for the service, on the theory that the broker who acts for the bank or trust com- pany performs a service of value. Nowadays—and you never will find this statement in any text book on money—the banks and trust com- panies are so anxious to put their idle millions to work on short jobs that they are actually paying a small fee to brokers to get the money employed. Lowered money rates on virtually “riskless” loans are reducing rates on other types of borrowing. Many of the rallroads are telling their banks to cut interest rates. The R. F. C. originally lent money to the roads at 6 per cent, but subsequently cut this rate to 5), then to 4% and now 4 per cent. The result is that carriers like the New York Central, which is borrowing $62,000,000 from banks at 4% per cent, see no reason why funds from private sources should not meet the rates offered by the governmental agency. Idle dollars mean idle people, but when money gets as cheap as it is to- day it eventually encourages borrow- Ing, which in turn lifts employment. (Copyright. 1935.) . U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on Aril 13 was: Receipts xpendi. tures, $18.33K.303: laiance. ‘55470 04 382; iuuuml Teceip! for the month, ‘815, for the fiscal year (since July pin s'xnuo 130.621: expenditures. $5.290.- 009 {(inciuding ~ $2,703.807.840 emeruency expendiiures) penditures. _$2.290,080, $8.617.959.714. Receipts of excess' of ex- 87, gold assets, 1934 (comparable expenditures, 6 cluding '$3,085. 1 gluding $3.085.2 4ot emergency 748.01 f cxpenditures, & DIVIDENDS ANNOUNCED NEW YORK. April 16.—Divi - flared (orepared by the Seandard” sia: tistics Corp. Accumulated. Fog Bik of Paye Rate. rlod. rec le. B¢ S 5-3 4-15 -1 Grown Cork Int A Holly susar DI wucnmm nv Del um Passed. Investors Royalty pf. Regular. ] B i m Inv of cr Asbestos Mig of. " Asbestos Mfg pf. . s1 Boe abe 8 ullock's In 79 of 8175 Capadian Inv Fund Ltd Ord iac mD. 5¢ Ssn of Phila.. SI Western Electro- Chemical Hollander (A) & 8.1 Humberst Shoe Ltd.50¢ Inltlru:u Pub Serv Kiein (D Emil} " Kigin (D Emil) Lerner 8trs Corp | s Mckisioh & fob S Nation Wide ‘Secur tr ctfs ser B 4c Neilson (W) Lid p:s1.35 Parker Rust “0 0 om O ; ..60c 2 X g O 0g0 OwoD, Tenn E Pow 7 1t 60c Tcnn L Pow 7 .S1.75 Tenn B pow 24 $1.50 Tent B P e, it 3. 50c Tenn El P 6% 1st 0c M Tenn El P v 1st bt Tenn B P 57 1st pf.3 Van Camp’s Inc %' Poods ‘Corp. No WonderThey Keep Coming Back You see the same faces at Esso dealers and sta- tions time and time again. For, once motorists start trading at the Esso sign, they have a way of repeatedly coming back. As soon as they begin using Aerotype Esso or Essolenetheycan’t help noticing how much longer it is between fillings . . how much more life and power their cars seem to have than with other fuels they’ve tried. And with Essolube in the crankcase.. . they find that their motors achieve a new high for smooth, trouble-free operation. They’re also quick to appreciate the attention and service they get. It’s gratifying to start out with a clean windshield and bright lamps . . a well-filled radiator . . and properly inflated tires. ESSO MARKETERS And the attendants at Esso dealers and stations see to it that you always do. Start stopping at the Esso sign for fuel and oil . . as well as tires, batteries and accessories . . and notice how quickly you, too, form the habit « . a habit it certainly pays to cultivate if you want to enjoy “Happy Motoring. RECOMMENDED FOR #appl//”ofim/uq + . Aerotype ESSO — endorsed by over 1,500,000 users as the outstanding premium fuel . . ESSOLENE—guarantees smoother performance than any other regnlar -price gasoline . . ESSOLUBE—the premium quality oil at regular price.. ATLAS tires, batteries, accessories—guaranteed by the world’s lead- ing petroleum orgmum:l’m road maps and touring information..clean rest rooms.. courteous attention. . efficient service. corn 1938 STANDARD OIL COMPANY OF NEW JERSEY