Evening star. [volume], February 17, 1928, Page 13, Image 13

About Evening star. [volume] (Washington, D.C.) 1854-1972

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BETTERMENT SEEN
IN LABOR WORLD
Employment Situation in
Country Gradually Improv- |
ing, Reports Disclose.
BY i C. ROYLE.
(Ijw.-'ai t>i»i»al* h ti> The Slat
NEW YORK. February 17.-The cm- !
ployment situation throughout the j
country is gradually brightening.!
Opinions remain divided as to whether j
unemployment was merely slightly ]
larger than norma! at the end of the
Winter season or whether it was acute, j
but therp is apparently no question !
that the shortage of jobs has been more
s-rions than tor some years, and that i
this situation is now rectifying itself
The industrial sections have probably
fe'.t it more than usual owiivt to the
extent to which new and improved
labor-saving machinery has been in
stalled in the last year. During tem
porary slumps the modern manufac
turer can lay off his men but he cannot
lav off hi« machinery. Moreover, the
use of this machinery ontai’s
ployment of skilled or semi-skih* > d labor
to a large extent This has lessened
the demand for unskilled labor during
the season when outdoor work is least
plentiful.
Building Programs Advanced.
Improvement can be expected owing
to the fact that the Winter in general
has been an open one and preparations
for farm work and outdoor building
programs are further advanced than is
usual at this time of the year Much
of the casual labor now gathered in
the cities is being absorbed in prepara
tion for these plans
The businesses which have reached
prosperity arc not particularly respon
sible for this oversuoply of lab-w. Much
of it comes from the fact that scores
of thousands of bituminous coal miners
are out of work and because the petro
leum industry, the textile industry and
some others have overproduced and are |
burdened with large stocks, necessitat
lng curtailment of production.
There is a firmness in the steel mar
ket which gives excellent basis for a S
belief that the volume of oroduction >
will not be onlv maintained but in
creased. This is shown bv the firm
ness of second-ouarter bookings Buy
ing bv the automobile companies has
shewn decided lmorovem , 'nt.
Aoto Industry Prospering.
The automobile concerns, in most
cases, are doing excellently One of the
cfc-ef factors in the industry undoubted
ly has encountered oroduction difficul
ties and has not been able to raise its
cutout to the figure set in advance for
this date Thi« very fact has im
proved the business of some of the
f'njwnv * rivals The leading interest,
which toaav announced the unprece
dented net earnings of $235,104,826 for
1927 is maintaining an even hlgh«T j
pace than last rear, tunvne out around
cars a dav
The uncertainty of the rubber situa-
gj Without restriction
or reservation
a Choice of every Suit, Topcoat and Overcoat remain
ing cf the present season's stock—regardless of former
I prices:
Fashion Park ll
Richard Austin JII 1
Charter House |J|||j
j| Ccncededly the finest clothing made —and reduced
I now for clearance —and doubly reduced to accomplish
it completely and quickly.
OnJv Foil Ore-* exempted—Alteration* at co c t.
Furnishing a “bargain time” in Furnishings
Shirts Neckwear Mufflers
Fancy collar attached or r . y . a A Black and White Rayon*,
aap.r.t. collar to OQ i.L •»«* " i "' «1 RQ
match War* $2. Silk*, SI.OO Cut Silk* , re d spot* Wara *9 J[ .OiF
$2 50. $3 3 (or $1.25 $3, $3.50 and $5 ...
3 for $4
Fina Importad Madra*, ate. $1 50, $2 00 and $2 50 Oft FioSC
* Collar attachad or **parat* Cut Silk* pa a
cotlkr* .. m..cfc 3 for 12 25 . * SQf
W.r. 13 S*. 34 3 lor 32 2, Wo „| W ,„ || JJL
14 S# Finest of the Knitted end -* •»
3 for s«so c.jt Silk., w.r. pi rn , c>l , 'l r 'a:
Wh". Frr'..h ;,V e ' ,J 50 *" d W... sl-19
| isl g 9 33.53 3 for 33.30
attach* d) war* V I m
i, u * «T l Wool and Silk fl* 1 7Q
3 for ssso Underwear and wool, war* e|al9
Finn! grade Cocoon 4ode Madra* Ath- QA $ , j f or jj q (j J
jif cloth; collar at' CO 1C latit, Union Suit* that
If f tached and n*'U- Vj**** wertYslS9, now Flfllf HoSO*
I band Whita only. \ 3 for $2 50 U°H
3 for $* 00 Choica of $3 and (1 o£j
Silk Shirt*, radturn, crepe., .» D-.1 $3 50 grade* I
ii ate. Saparate rol- JF 7Q Kath KOmCS
lar* Wara SO/5 VJ‘l*' rl M Choica of $4, $4.50 <LO QC
and $lO ° ~iUn\r, ,iU n\r W nd SI 95
3 for $16.00 Farry C loth War* V ,)•*'*' A
%‘t and $/ 'd Choice of $7, $0 14 o^l
3 s Street Vests Lo ' of . Un * ,l# *■*
• ket Rohe*. Were VlJ.wCg
Fw, CO QC 33, 3I« a,»d 312 n .
i *•; *"• »* «■* Hianb'i, Pajama*
I 1,2 and imported Plain .hade*. <C ICC
Drew Vert. CEV «.*£ $10.95 ”**
Whit* Piqun; a l.*»l« *oil*d and $2« 3 for $4 50
U from handling CO 7Q Full Silk . lined f|o 7C Broadrlnthl in C*| 7Q
li! Ware $0 I® 110 *9/•£•%/ Rohe* Were $25, *P I white and *olld rol- *P I*• ir
diij Choice S3O and $35 or*. Wara $2 50, $1
jg|
The Mcde—F at Eleventh
I non has been a disturbing factor among
the tire manufacturers, although they
! are working at a splendid three-shift
rate in most cases. This applies only
to those companies which misjudged
the crude rubber trend, but according
to reports from the tire centers, many
stand to suffer losses on inventories.
The underwear and stocking manu
facturers are reporting a slight Im
provement. and in the apparel trade
1 the buying of Spring merchandise has
given general satisfaction
Os far more importance than any
S congressional investigation of the soft
1 coal industry is the consummation of
merger of a number of the soft coal
companies. The producers at least
look largely to the necessity of help
ing themselves rather than obtaining
anv assistance from Federal legislation.
The oil industry is progressing slowly j
! but surely toward normal. It is still.
i however, far from that goal.
Tobacco sales, especially of cigarettes, j
! are expanding steadily, but these sales !
1 arc being made at tcrriffic expense for
promotion and advertising,
j The building situation has suffered j
no setbacks. In fact, the announce- j
j ments of big protects have been rc
‘ markably numerous. j
Leather and hides remain high, with
small stocks and steady demand from j
manufacturers. j
Raw wool continues to ris' > steadily,
with a splendid demand for future re
quirements. Little change was notlce
able in the non-ferrous metals. Lumber i
is picking up in anticipation of Spiingi
demand.
OIL CO. TO REORGANIZE.
Marland of Oklahoma Notes
Change in Name.
PONCA CITY. Ok!a. February IT -TV
—lmpending retirement of three more
officials of the Marland Oil Co. and for
mation of a Marland Production Co. j
were announced here by E. W. Mar
land. president.
The new organization will be named j
the Marland Producing Co. and will j
carry on production activities now j
maintained by the Marland Oil Co. of j
Texas. Oklahoma and Colorado, the an
nouncement said Mr. Marland will be
president of the new company, which
will maintain headquarters here.
John H Alcorn and J. K Cleary, vice
presidents, and Seward R Shelton.;
treasurer, have asked that their names
be not submitted for re-election at the
annual meeting of Marland Oil Co. |
1 stockholders in May, Mr. Marland said j
They will remain in Ponca City and j
i engage in business on their own ac- j
count.
W. H McFadden, first vice president. |
and W. A. J. M. Vandergraeht. vice
president in charge of research, retired
from the company several weeks ago.
•
SAFEGUARDS DEPOSITS, j
Bill Before Congress Defines Duty
!
of Reserve Banks.
National and State banks and trust j
companies which are members of the
Federal Reserve System, would be com
pelled to protec* the deposits of indi
viduals by filing surety bonds, under a
bill by Representative Hastings. Demo
crat. Okla. The bonds would represent
25 per cent of the value of the individ
ual deposits.
THE EVENING STAR. WASHINGTON, P. <\ FRIDAY. FEBRUARY 17. 102 S.
EGGS DROP POINT
IN LOCAL MARKET;
Other Prices Remain Prac
tically Unchanged in Whole
sale Provisions.
i A one-point drop in quotations on
1 eggs was the onlv notable change which
developed in the local market today. \
i nearly all other prices remaining about
! the same as they have been for the
* past few days. Slight drop of a point
! in fowl quotations was also reported,
j and the market generally indicated only
j a fair amount of trade.
Today s wholesale prices:
I Butter—One-pound prints. 49a50: tub.
47a4R: store parked. 32. ,
Eggs—Fresh selected. 33a34; hennery, j
i 35; current receipts. 32.
Poultry, alive—Turkeys. 37a33: Spring j
| chickens, 32a35: fowls. 23; roosters. 1R; j
ducks. 18a20; krats. young. ,70a75; old. i
1 35. Dressed turkeys. 3Ra42; Spring
chickens, 33a35: fowls, large. 25; small,
i 23; roosters. 20; capons, fancy, heavy,
38a40; small. 30a32; ducks, 25n30: keats.
80n00.
Meats fresh killed--Beef. 20a23: veal.
27a28; lamb 23a26; fresh hams, 19a20;
loins. 19a20; fresh shoulders. 15:
smoked hams. 20a22: smoked shoulders.
14a15: calves, alive, 16: lambs, alive,
’.3 1
Fruits and Vegetables.
Apples—Supplies moderate: demand j
moderate, market steady: barrels. Vir
ginia, U. S. No. 1. Staymans. 2>i inches!
up. good quality and condition. fi.OO: j
; U. S. No. 1.2 S inches up. Black Twigs, j
I 7.00: boxes. Washington, medium to j
! large size, extra fanev staymans. 3.50: I
Winesaps. 3.75: Romes. 3 25: fancy |
Romes. 3.00: bushel baskets. Virginia, j
U. S. No. 1. 2*j inches up delicious.'
air color. 2.75: Pennsylvania. U. S j
No. i. Staymans and Black Twigs. 2T* j
inches. 2.50a2.75
Cabbage—Supplies moderate: demand j
moderate, market steady: new stock:
Florida I*-.-bushel hampers, pointed
i type. 1 75a2.00. Texas, western lettuce
j crates about 80 pounds net. round type,
I 2.50a2.75: barrel crates, approximately
i 100 pounds net. round type. 2.75a3.00;
j mostly 3.00 old stock. New York.
! sacked, per hundredweight, Danish
i tvpe. 1 00.
| Celery—Supplies moderate: demand
I moderate, market steady; Florida, 10- i
I inch crates. 3-4 dozen. 2.75n3.00; best,
mostiv 2.90a3.00; smaller sizes low as
2.50. '
Lettuce Supplies liberal; demand |
moderate, market firm: California, j
crates Iceberg type. 4-5 dozen. 3.00a
! 3.25. mostly 3 00
i Onions— Supplies moderate: demand
moderate, market steady: Ohio and In
diana. mostly Ohio. 100-pound sacks
yellows. U. S No. 1. medium to large
size. 3 00
Potatoes —Supplies moderate; demand
moderate, market steady: Michigan. ;
150-pound sacks Russet Rural?. U S j
No. 1 3.35a3.50: Minnesota, 150-oound
sacks Round Whites, U. S. No. 1. few ,
sales, 3.40: Idaho. 110-pound sacks
Rurals, U. S. No. 1. 2.75a2.00.
Spinach—Supplies liberal; demand
light., market steady: Texas, bushel bas
kets Savoy type, mostly 1.25. few higher;
I South Carolina, bushel baskets Savoy
'type, 1.00a1.25, mostly around 1.00.
Moderate Demand, Market Steady.
j Tomatoes —Supplies moderate; dc-
J mand moderate, market steady. Orlgl
! nnls: Florida, fair to ordinary quality
and condition sixes, ripes and turning,
wrapped, fatr quality, fancy count.,
4 00a4.50: choice count. 3.50a4.00;
poorer, fancy count. 3.50a4.00: choice
count. 2.50a3.00. Repacked: Repacked
in Baltimore, unknown origin, few sales
sixes, ripes. wrapped, fancy count, 7.»«:
repacked In New York City, unknown
origin, generally fair quality and rondl
' tiop threes, rtpes. wrapped, fancy count,
! 2.50a2.75, mostly around 2.50: choice
*ounl. 2.00a2.25. mostly around 2.00.
Sweet potatoes—Supplies moderate,
demand light, market dull: New Jcr«ey.
bushel hampers, yellows. Na 1, few
sales direct to retailers. 2.25: North
Carolina, bushel baskets. Porto Rieans.
ordinary quality and condition. 1.40a
. String beans—Supplies very Ugh* <le*
! mand moderate, market firm; Florida,
7 a-bushel hampers, green. 7.00a7.50.
; Peppers—Supplies moderate; demand
moderate, market steady; Florida, pep- i
oer crates, fancy. 4.75. !
Eggplant. Supplies light; Florida,
popper crates, ordinary condition, l.oOa
2.00.
Squash and cucumbers— Supplies very
light; too few sales reported to quote
Carrots —Supplies light; demand light,
market stcadv; Texas, bushel baskets,
bunched. 1.85a2.00; Western, lettuce
crates. 2.50a2.75. few higher.
Beets—Supplies light; demand light,
market dull: Texas, bushel baskets, j
bunched, mostly 2.50; Western lettuce
I crates. 3.50a4.00.
Cauliflower —Supplies moderate; de
mand light, market about steady; Cali
! fornia. pony crates. 1.75a1.90; fair qua:
Ity and condition. 1.50.
| Strawberries—Supplies very light: de
-1 mand light, market firm; Florida, pony
J reefers. Missionary’s. 75a80 tier quart, j
•
| Mrs. Ed Jackson abandoned a career
- of religious educational work to become
| the wife of Indiana's Governor.
| SUN LIFE ASSURANCE COMPANY OF CANADA |
A TOWER OF STRENGTH I
Dividends to Policyholders increased for eighth succssivc year.
TOTAL INVESTMENTS IN UNITED STATES SECURITIES EXCEED $168,000,000
EXTRACTS FROM DIRECTORS’ REPORT
Substantial advances have l>een made in all the redemption or sale of securities which had $500,000 has been set aside to provide for
departments during the year. . risen to high premiums. the greater longevity of annuitants, bring-
The total net income for the year exceeded The quality of the investments listed in the ing the total provision under this heading to
one hundred million dollar* . . . assets is testified by the fact that on both bonds $-.000,000.
The strength and resources of the Company and preferred stocks not one dollar, due either $50,000 has been set aside to provide for
have been fun her enhanced ... as interest or dividend, is in arrear for even claims in respect of total disability as \*t
TV high earning power of the Companv* *>"' «<»>'• while the dividend. accruing ... com- unreporte.l.
inve.tnte.Tt. hat. Un again tlemnn.trated. T.VT . T ' >l ,’.V'' $U.0f10.(1J6.»1 ha. lien cr altotted
The net rate tis interest earned on the mean ‘ pa.atile on the .ante ..lock, at tl.t l.t.te .1. protit. to pohevholder, during the .ear.
invested assets, after fully providing for in* ° y un Usr> In addition. $0,205,575.00 has been eotv
vestment expenses, was ft'. 4 7 percent. This Ihe surplus earned during the year amounted tingrntly allotted to deterred dividend poli
♦gratifying result has l*een made jmssible by to $58,511,029,67. from which the following cies issued prior to 1911. and to rive year
dividend increases, bonuses and stock privi* appropriations have l>een made: distribution policies, to provide for profits
leges accruing on many of the Company’s $5,000,000 has been deducted from the accrued but not yet payable,
holdings. market value of our securities as a further After makina these deductions and alhvv
The wisdom of the investment policy which provision against possible future fluctua- tbns. $11,269,550 $9 has been added to the I
has been consistent l\ followed in past years, in t tons. increasing the amount so set aside to undivided surplus, bringing the total over all * I
favouring long term l*onds and the stocks of $10,000,000. liabilities, contingency account and capital
outstanding and very carefully selected cor* $1,500,000 has been adder! to the account stock to $45.250.59p u
notations, has been once more emphasiied. to provide for unforeseen contingencies Your Directors are gratified to announce, for
The appraisal of our securities shows that the which now stands at $12,500,000. (he eighth successive \ear, a substantial in
exresit of market values over tost increased $1,000,000 has l>een written off the Com* crease in the scale of profits to Ih* distributed
during the year by $19,255,889.99. In add i- panv’s Head Office building and other to participating pohev holders during the en
tion. a net profit of $5,028,055.20 accrued from properties. suing year.
SUN LIFE ASSURANCE
COMPANY OF CANADA
j
A. D. CARPENTER, Manager 1
I
Transportation Bldg. Washington, D. C. I
l H—■» ■ ..■■■■' ',::"ir::=-'::ii— i j'.rar:, ■ i. =ll 5
a
Commodity News
NEW ORLEANS, February 17 (Spe
cial).—Reports to the Southern Pine
Association covering the last week show
an Increase of 11.6 per cent in new
business to a total of 48,178.000 feet
Shipments dropped 7 per cent to 43,-
589.000 feet and production increased
2.7 per cent to 48.980,000 feet. Unfilled
ordera totaled 163,955.000 feet.
CHICAGO.—CoId storage supplies of
butter decreased sharply In the last
month, but still are much larger than
a year ago. Present holdings are 28,-
296,000 pounds, as compared with 46.-
289.000 pounds in January and 17,952.-
000 on February 1, 1927.
PORTLAND. Oreg—Owing to the
high cost of beef the public is buying
poultry In heavy volume in this section.
Retailers declare that chicken dinners
are no longer confined to Sunday and
holidays.
SAN FRANCISCO.—CattIe prices
have remained steady in California in
the last week, according to the West,
Coast Marketing Association. Fat cat
tle supplies in the Pacific Southwest arc
ample.
YOUNGSTOWN. Ohio Firmer prices
are being maintained on steel products I
in this district, with better buying ap- i
parent for the motor Industry. Prices 1
i being quoted for second-quarter delivery
arc 2 90 cents a pound for black sheets
and 4.14 cents a pound for high finished
stock.
GROSS EARNINGS LESS.
BALTIMORE. February 17 'Spy
cial.)— Estimates as to Western Mary-;
land Railway’s gross earnings in the;
first week of February continue to show
a decrease, compared with the same
period last year, which was an ex- •
ceptionally active time in soft coal J
shipment. Yet the percentage decline I
indicates that earnings are picking up
1 week by week. During the week end- |
ed February 7 gross operating revenues j
are estimated at $379,875. a decline of
|ls per cent under the 1927 period
Such earnings declined 21 per cent
from January 1 to February 7 totaling
$1,956,438. compared with $2 436,031 in
the corresponding period a year ago.
FOOD STORAGE TOTALS.
Holdings February 1 and Year Ago
Compared.
Smaller storage holdings of poultry,
eggs, cheese and apples February 1 com
pared with February 1 a year ago, and |
increased supplies of butter, meats and
lard are reported by the Bureau of
Agricultural Economics, United States j
Department of Agriculture.
Total stocks of poultry are placed at j
117.972.000 pounds, compared with 145.-;
376,000 pounds on February 1. 1926; ,
case eggs at 25,000 cases, against 253,-'
000 cases a year ago, and American i
cheese. 41,693,000 pounds, against 46.-
026,000 pounds.
There were 1.254,000 barrels of apples ]
in store on February 1 this year as
against 3.178,000 barrels last February, |
and 9.806,00 boxes, compared with 10.-
435.000 boxes. Holdings of 2,321.000
bushel baskets of apples are reported
for February 1 against 2,037,000 bushels
last February.
Total stocks of creamcrv butter Feb
ruary 1 are placed at 28.296,000 pounds,
against 17.952.000 pounds last year;
; meats, 794.319.000 pounds, against 750.-
j 563.000 pounds, and lard, 83.780,000
! pounds, against 69.576,000 pounds.
CEMENT IMPORTS SMALL.
U. S. Industry Need Not Fear
Competition, Belgian Envoy Says.
The Belgian embassy in a statement.
! yesterday declared the amount of
; cement, imported into the United States
from Belgium and other foreign coun
tries was too small to jeopardize the In
dustry in this country,
i The statement, issued, it was said, in
i response to recently published charges
that the American cement industry was
being threatened by foreign importa
tion, pointed out that cement imported
bv the United States in 1927 amounted
to less than l'i per cent of that pro
duced in this country. The United
States, is was added, exported about the
same qumtity of the product as it im
ported.
COMPANY WOULD EXPAND
Fotomnc-Edison Asks Permit to
Absorb Four Concerns.
BALTIMORE. February 17 (Spe
cial*.—Public hearings on the applica- i
| tion of the Potomac-Edlson Power Co. |
; to absorb four smaller companies in.
1 western Maryland are to be held Febru- j
ar.v 24 by the Public Service Commis- !
sion.
Each of the hearings, according to j
the commission's is to be vpa
i rate, but little opposition is expected in j
| any. and the four arc expected to be j
! completed in less than an hour.
I The first Is the application for an
order authorizing the acquisition of the !
! capital stock of the Ridgeley Light A:
■
®fje lUrgonne
j SIXTEENTH and COLUMBIA ROAD NORTHWEST
We submit for your consideration some of the
important features connected with this apartment
building which have enabled ns to satisfy the most
exacting homrseekers.
1. Location in residential hub of N.W.
2. Convenient to bus and car lines.
3. Large, modern, fireproof building.
4. Spacious light and airy rooms.
5. Apartments freshly decorated yearly.
6. Rentals moderate and reasonable.
7. Service prompt, quiet and courteous.
K. Garages and servant accommodations.
9. Continuous phone and elevator service.
Before deciding upon a home come in and make
an inspection.
®fje &rpntte
! Power Co. and the Piedmont Electric .
Light & Power Co.
The second application asks permla—
sion to acquire the Potomac Light A
Pov er Co., and the third asks an order
authorizing the transfer to the Potn
mae-Edison of all the franchises, works
S and system of the Clearspring Electric
: Light Ac Power Co.
! LABOR SLUMP IN ILLINOIS.
CHICAGO, February 17 (Special).—
; Employment In Illinois is down to a
| lower level than at any time since the
11921 slump. There was a further drop
of 2 1 per cent In January In the num
i ber of workers, but improvement is ex-
I peeled this month.
•
Then' are 9.000 woman physicians in
the United States.
13