Evening star. [volume], October 15, 1934, Page A-15, Image 15

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

Image provided by: Library of Congress, Washington, DC

                
Sim RDM
Government-Graded Wlfite
Extras* Large* Show
Gain of Cent.
In Quotations were steady to firm
on the Washington produce market
today. Government-graded- white ex
tras, large, advanced a cent, and
brown standards gained half a cent.
Receipts were light.
The summary, with egg- live poultry,
fruit and vegetable ^prices furnished
by the Department of Agriculture,
follows;
BUTTER—One-pound prints <92 score)*
tub. 27; 1-pound prints (90 score), 27;
tub, 26; 1-pound prints (88 scort), 28;
tub. 26.
MEATS—Beef. 12(4*16; veal. 13*14:
lamb, 14al5: pork loins, fresh. 18*10;
frozen, 15*16: fresh hams. 18*19: gmoked,
20*21; strip bacon. 24*26; lard, 10*12(4;
compound. 9(4*10(4.
EGOS—Market, steady to firm: receipts
lisht: prices 1 hither on United States
Government (traded white extra*, larse.
and (4 -hither on brown standards. Cur
rent receipts, 26*28: hennery white*. 30a
32; Government graded and dated white
esse. U. B. extras, large. 40a43: U. 8.
extras, mediums, 34: tl. 8. standard*,
larse. 35(4: Government graded and dated
brown egg*. U. 8. extras, larse, 33; U. 8.
Standards, large 26(4.
LIVE POULTRY—Market dull: price* un
changed. Fowl: Colored, large. 17*18;
mediums. 14*16; Leghorns, 11*12; roost
ers, 7*9: Spring chickens. Plymouth
Rocks, over 3 pounds. 17*18: under 3
pounds, 16*16; mixed colors. 14*16: Let
horns, 13*16; turkeys, old toms. 14; old
hens, 18: Sprint turkeys. 10 pounds and
over, 20*23: guinea fowl, 1(4 pounds and
over. 80*90 cents a pair.
Frsits and Vegetables.
Bales In larse lots by original receivers
tip to 8 a.m. today:
. APPLES—POur Virginia, three Wash
ington arrived; four broken and eight un
broken cars on track. Bushels: Supplies
liberal: demand slow; market duH. Vlr
Slnla. Grime*. U. 8. No. 1. 2(4 inches
minimum. 76*85; 2(4 inches minimum.
90*1.00; Btaymans, U. 8. No 1. 2*4
Inches minimum. 90*1.00; 2(4 iMDet
minimum. 1.15*1.25; 2(4 Inches minimum.
1.50*1.65; Delicious. U. 8. No. 1. 2(4 inches
minimum, mostly around 1.00; 2(4 lnehe*
minimum. 1.25*1.35: 2(4 Inches minimum.
1.50*1.75; Oolden Delicious. U. 8. No. 1.
2(4 lnehe* minimum. 90*1.00: 2V4 inche*
minimum. 1.25*1.35: Pennsylvania. Stay
mans. U. 8, No. 1, 3 Inches minimum, fair
Sndltlon. 1.36*1.50: 2*4 Inches minimum,
ir condition. 1.16*1.25: U. 8. utility. 3
ches minimum. 1.15*1.25: 2(4 inches
minimum. 90*1.00. and 2(4. Inches mini
mum. 90*1.00: Spys. U. 8. No. 1. 2(4
Inches minimum. 65*75; 2(4 Inches mini
mum. l.OQal.25: 2*4 Inches minimum.
1.26*1.35. Boxes: Virginia. Delicious. C
trade. 113* to 150*. 1.60*1.75: 100* and
larger. 1.75*1.85; combination extra fancy
and fancy*. 113* to 150*. 1.76a2.00; 100a
and larger. 2.00*2.15.
. CABBAGE—One Pennsylvania arrived;
two unbroken cars on track. Supplies
moderate; demand slow: msrket dull.
Pennsylvania, domestic flat type, 1(4
hushel hampers, 60*65; 80-pound tacks,
, CELERY—Five New York arrived; seven
Unbroken cars on track. Supplies mod
erate; demand light: market steady. New
York, (4 crates, washed, all siaei. l.OOa
1.25. few higher.
GRAPES—Table: Three California ar
rived: no car* unloaded; two cars diverted;
Eve broken and four unbroken cars on
track. Black Juice stock; One California
arrived: no car* unloaded; no cars dl
verted: one broken and one unbroken ears
on track. White Juice stock: One Gall
fornia arrived; no cars unloaded: no cara
diverted: two unbroken cars on track.
Others: One Hew York arrived; no cars
unloaded: no cars diverted: one broken
car on track- Eastern stock: Supplies
moderate: demand light; market steady.
New York, 2-quart dimax baskets Con
cord*. U. B. No. 1. table, 12*12(4; 12-quart
climax basket* Concords, 40*45: cartons
containing 12 2-quart basket*. 1.50*1.65.
Lettuce Prices Steady,
LETTUCE—Pour California arrived:
four broken and eitht unbroken ears on
track. Weltern stock: Supplies moderate;
demand alow; market steady. California.
Western crates. Ice be r* type. 4-6 doeen.
2.50*3.00; poor condition. 1.0012.00. _
ONIONS—Pour New York arrived; three
broken and aeven unbroken cars on track.
Supplies moderate; demand light: market
steady. Michigan and flew York. 60
pouna sacks yellows. U. S. No. 1. mostly
*rpjBuE?-6ne California arrived; torn
broken and two unbroken cam on track.
sasr si&bssl tsahSS&rvB
*h$m'Am%L^One BCtfiferniiL four Hew
York arrived; two broken and, eight on
broken car* on track. Supplies_liberal,
demand llgnt; market steady. Pemmyl
vanla. 100-oound sacks. Round Whites.
v. a. UKO'JBUr « fe'TiS';
100-pound sacks. Buutt Bur
_ POTATftM^l^ck receipts
ctrlot ar
4mg4
light, market steady. New Jersey, bushel
3^^tu.s§rpSo«ia»3
baskets. 85*76: Ohio. 16-fluait basket*,
4°CAlJLnLOW*R—One New Jerger. on*
Hew York arrived; one broken and twe
unbroken cars on track. SuppUe* m«»J
ate' demand alow: market weak, crate*.
Western New York. 50*65; Lon# toland.
r best. X.00; poorer lower.
Okra Demand Light.
mK'caroS«
Uc)aRROT8—No ^ carlot arrival*; om
broken and one unbroken car* on track,
California. V4 crates, bunched 1-25*1 AO,
Pennsylvania. bushel baskets, topped,
Washed, 76*85: bunched, 25*30.
BROCCOLI—Pennsylvania, crate*. 1.00*
1"KCET8—Pennsylvania, bunched. 25*30.
SQUASH — Florida. bushel hampers
WhUe.l-50al.75: yellow. 2.00. ,
PEARS—Two Washington arrived: on)
broken and three unbroken ear* on track
New York, bushel basket*. U. 8. No. 1
“ ORANOB^—Pour California arrived
ssas'sSsr^’tSSf.
4.00a*.50. according to grade and site.
. GRAPEFRUIT—No carlot arrival*: oni
broken car on track. Florida, boxes, 1.50;
3.60, accordln* to graae andstae: trucl
recelnts. bushel hampers. 75*1.25. ac
cording tqeondlUpn.
AVOCADOS—Florid*, crates. 1.00*1.35
CRANBERRIES—Massachusetts, y«-bar
yel boxes. 2.60*2.60. . , .
CRAB APPLES—Michigan, bushel baa
keHONEYT«WTS—Two California arrived
one car diverted; two unbroken car* oi
track. _ _ _ _ ...
L C. L Fspree* Arrival*.
Florida. 84 crates avocados. 35 crate
Pennsylvania*2 iSrfour^und^Uf?
mushrooms; North Carolina, 53 bushel has
beta ‘okra, 28 bushel baskets snap beans
Georgia, 23 crates squash; South Carolina
34 IraiiielKikets squash: Mixed vest
tables. 40 orates.
$248,739 Earned
By United Cigar
In Eight Months
By Uk AaseelaMd Rm.
raw YORK, October 1«.—A profit
of $348,719, after depredation, re
sulted tram store operations of tbs
United Clear Stores Oo. of America
and store operating subsidiary earn*
panics for the eight months finrtfKl
August 31, It was disclosed In a letter
from the Protective Committee to
the preferred stockholders.
Concerning proceedings under sec
tion 77-B of the bankruptcy law the
committee states that having the
support to date of more than 88 per
cent of the outstanding preferred
stock it la taking an active part in
the new proceedings and will “par
ticipate in the contesting of any filed
claims which it believes lo be exorbi
tant or not allowable."
TH FAVORABLE
FOR LAST WRIER
Prices Rise and Clearings
Outside New York Far
Ahead of Year Ago.
Special Dispatch to Tha Star.
NEW YORE, October 15.—In spite
of the Irregular tendencies of Indus
trial sales and the moderate decrease
in industrial activity during the third
quarter, the trend of the remaining
five primary factors enabled higher
levels to be reached than in the com
parative period of 1933. Although the
principal indices reflected reduced In
dustrial activity, wages and emptoy
mept gained, prices nee, and bank
clearings at centers outside of New
York were held constantly above last
year's positions, according to a survey
of industry for the third quarter of
1934, which has just been completed
by the research department of Dun ft
Bradstreet, Inc.
"While a number of industries cur
tailed production because of labor dif
ficulties, these were not a malar factor
in reducing output. Curtailment,
where It occurred, was due chiefly to
the Industry bringing production Into
alignment with current distributive
requirements. Sales of meat and
other food products were well ahead
of last year’s totals. This also was
true of automobiles, motor accessories,
radios, tobacco'manufactures, adver
tising lineage, electrical equipment,
aircraft, amusements and building.
For chqin store groups and mail-order
houses some spectacular Increases
were revealed In the comparison with
the 1933 totals.
"Third quarter failures at 3,631
compared with the 1933 total of 4,009,
representing a decrease of 34.4 per
cent, while the liabilities at $54,225,
567 were ill per cent smaller than the
193.3 total of 193,104,055. Third quar
ter bank clearings for cities outside of
New York totaled S19.6S1.756.000. ah
Increase of 8.9 per cent from the com
parable 1933 aggregate of 818,069,
902,000. .
"OTm preponderance of favorable
elements shows that Industry Is on a
higher level than a year ago and that
at the beginning of the Anal quarter
of 1934 it fe in a strong position for a
conttnuod forward movement.”
XEOCffiE SALES GAIN.
NEW YORK, October 15 (ff).—
Kroger Grocery ft Baking Co. reporta
sales of $17,207,842 for the four weeks
ended October 6, against 816,049.144
for the same.period In 1933, an In
crease of 7 J per cent
MARGIN RULINGS
PLACED IN EFFECT
- ________
Official Start Today Brings'
Little Reaction in Mar
ket Circles.
■peelsl DiSpatch to Tbs Star.
MXW YORK. October 15.—Security
market, came under further Govern
ment control today aa the FSdenpd
Reserve Board margin regulations offi
cially vent into effect. The only ins
mediate reaction to these new rules on
tbs part of the public was apparent in
increased inquiries, most of them Indi
cating that John Q. Public want, to
get the lowest possible margin obtain
able, whether this be “legal” or "ex
chftnfe" reouirementi.
Margin clerks worked with the Fed
eral Reserve margin manual close at
hand. The “little fellow” did not
bother to read all the legal verbiage
Used to invest margin rules with mys
tery. He preferred some simple direc
tions an how to figure out margin
requirement, and left It to hi. "broker”
to decide whether his account was
•mew" or “old.”
-Divide the present price of the
stock to be bought on margin.” ex
plained a circular lamed by one brok
erage house, “by the lowest recorded
figure at which the stock has sold
since July 1, 1931 We can supply
you with such record low price sta
tistics.
“If the result of the division Is
1.33 or lee., the margin requlremeht
will be 25 per cent of the present
price. If the result is more than
1.33, but leas than 1.82, the margin
requirement will be the difference be
tween the low record and the present
price. If the result is greater than
1.82, the margin requirement will be
45 per cent of the present price. We
reserve the right to ask for minimum
margins higher than those demanded
in the national securities exchange
act of 1934.”
Most brokerage houses made similar
reservations when it came to margin
requirements, since the New York
Stock Exchange margin rules am still
in force and in most Instances are
stricter than those of the Govern
ment.
(Copyright. 1934.)
NEW YORK TELEPHONE
INSTALLATIONS INCREASE
By the Associated press.
YORK, September 15.—James
L. .letrick, president of the New
York Telephone Co., said In a letter
to stockholders that “an Increased de
mand for telephones In the first half
of September Indicates that the re
sults for the entire month will show
a fairly substantial excess of new in
stallations over withdrawals.”
He added that on the basis of esti
mates the company will enter the
last quarter of 1S34 with as many, U
not slightly more, telephones In serv
ice as on January 1, last.
The company had a net loss of
about 117,000 telephones in the first
nine months of 1933.
SHARP UPTURN SEEN
IN RESERVE BALANCES
By the Associated Press!
Reserve balances of all member
banks showed a sharp upturn during
the week ended October 10, aa the
change was measured by the Fed
eral Reserve Board. In the table
that follows the total of each bal
ances h given for comparable pe
riods, as announced by the board:
STATE AND MUNICIPAL
FINANCING SCHEDULED
BytteAMMteUdFMM. <
HRW YORK, October 15.—H*W State
municipal piifmfi for
the coming weak total* *7,1S8,004, com
pared with the rertoed total of $14,
OtMM during the current week, ac
cording to the Daily Bond Buyer. In
cluded In next week’* offering* are
$3,555,000 bonds to be offered an Wed
nesday by the R F. CL acting a* llaoal
agent for the Public Works Admlnis
tnttop.
u.&Twis
!
— j
Nine-Month Total Equal to
$4.83 a Share on Cap
ital Stock.
Sr the Associated ftw.
NEW YORK, October ' 15.—The
American Telephone tc Telegraph.Co.
In a report for the nine months ended
September SO, Issued today, showed
net Income of $90.203 478 after charges
and Federal taxes, equivalent to $443
a shire on* the outstanding capital
stock. For the first ntae months of
IMS net income amounted to. $101,
351444, or $5.43 a share.
For the quarter ended September 30
net Income was $31404,653, or $141
a share, against $28407,007, or $1.55
a share In the June quarter, and $35,
137,710, or $14$ a share In the Sep
tember quarter last‘year.
Gtffsrd Cites Gains.
In a statement aooompanylng the
figures. Walter 8. Gifford, president,
said that “treating the system as a
whole and including the Western Elec
trio Co- preliminary data Indicate
earnings on American Telephone &
Telegraph Co. stock Of about $4.32 per
share for the first nine months of this
year, compared with $34$ per share
for the corresponding period of 1033."
During the third quarter, Gifford
reported, the Bell System had a net
gain of about 37,000 telephones, as
compared with a net lorn of 60,000
telephones tat the corresponding period
of last year. The net gain since
the first of the year has been about
226,000.
The number of toll and long-dis
tance calls during the third quarter
was about 2% per cent greater than
in the same period last year, and for
the nine months the Increase was
about 5 par cent over the like 1933
period, Gifford said.
Total Eamtagi Given.
Total earnings for the nine months’
period were $175,575,444, against
S1S4.B37.IS0 for the corresponding
1933 period. Expenses, including
taxes, came to $55478,155, against
$50,547,102. The earnings do not re
flect the current deficit of Western
Electric Co, manufacturing sub
sidiary.
Dividends received by American
Telephone * Telegraph Oo., amount
ing to $94,637,106 for the nine months,
were not earned by a margin of about
$2,000,000, the statement said. In the
first nlne^months^af^ 1*33^ the dlri^
panles to the parent company, ag
gregating $85421448, were not earned
by a margin of $16400,000.
UPTURN FORECAST
AT SIEELPIMS
Higher Trend Is Expected ta
Gain Momentum in
Coming Weeks.
lr Um Associated Rw.
CLEVELAND, October 15.—Indica
tions that the steel industry la on the
verge of a substantial upturn are
noted to the weekly survey by the
magazine steel.
Already, the publication says, “the
trend to buying a* measured by
volume of miscellaneous orders Is up
ward and steelmakers are confident
of a substantial Improvement once
the automobile Industry baa launched
definitely on Its new models.”
Pmther come tot tteeloiAkeTs1
optimism is found to the present re
duced state of consumers’ stocks, the
fact that material being shipped now
is going immediately Into consumers’
goods,
foveatery That Nears.
"With Inventory time approaching,
however, it appears unlikely that buy
ing over the remainder of the year
will far outstrip actual requirements.”
Steel says. “Much depends upon bow
the automobile manufacturers will ap
praise markets for new carp and how
quickly some of the large Government
construction projects can be released.”
The mazazine adds that “Japan esti
mates 100,000 tons of steel will be re
quired to rebuild the typhoon-swept
city of Osaka. American farm Imple
ment makers’ sales to the first eight
months this year were about 85 per
cent over 1932, the low mark In recent
years.
“Merchant pig Iron and foundry
coke shipments are gaining steadily;
In the Great Lakes district so far In
October 140 per cent for pig Iron and
33 per cent for coke, over the com
parable period last month.
Pig live Reqalre*.
“A large tonnage of pig iron win
be required through the railroads'de
cision to re-equip 2,000,000 freight cars
with a new type of airbrake, at the
rate of 200,000 annually.
■'8teel works operations last week
were unchanged on the strong side
of 25 per cent. Chicago held at 26,
Pittsburgh, IS; Detroit, 59; Wheeling.
S3; Cleveland, 23; Buffalo, 24; Bir
mingham, 25; New England; 40.
Youngstown was up % point to 19t4.
and Eastern Pennsylvania, H point
to 17%.
"Steel’s iron and steel price com
posite is unchanged at $32.09; the
finished steel Index remains $54, while
the iron and steel scrap figure is up
4 cents to $9.37 on some minor ad
justments at Pittsburgh.”
____ •
AMERICAN CHICLE CO.
EARNS $1.25 RER SHARE
By tbs Associated Press.
NIW YORK, October 15.—Ameri
can Chide Co. reports for the quarter
ended September 30 net profit of 9667,
431, equivalent to 91.33 a share on the
capital stock, against <531,698 or 91.19
in the previous quarter and 9699,934,
or <1.03 a share in the came quarter
last-pear. For the first nine months
profits were equal to 93.44 a share
against 93.79 a share a the like 1999
penoa.
FEARS OF li It A
OK
Most of Co-operation Be»
tween Business Manage
mentB Likely to Continue.
BT CLAUD! A. JAOGEB,
Associated Press Financial Editor.
NEW YORK, October M^-Aftey
months of unewplarta over the listed
reorganization of N. R. A., Miriness
bee now been encouraged to believe
that it Wiu not be a bitter pill to
swallow.
One of the lint developments in the
revised N. R. A- -was the frowning
upon price end production controls.
But Donald WChberg, head of the
sew Policy Committee, has taken
pains to put executives’ minds to rest
over that.
At first glance, some business lead
en thought it meant giving up all the
gains to management, for which In
the creation of N. R. A. the conces
sions to labor were made. But It ap
pears that the major part of the co
operation between business manage
ments is tO MotlnH*
Actual price "fixing- has been ap
plied chiefly in codes affecting nat
ural resource!, mch aa tljnber, copper
and petroleum.
The more common price provision
in N. R. A. codes merely provides for
"open” prices, not fixed prices. And
it Is expected that the open-price pro
vision, poarifoly with minor modifica
tions, wUl be retained.
Regulation through-the "open” price
method merely requires each company
to list with an impartial agency all its
prices, discounts and conditions of
sale. The company must agree to
abide by the prices and terms It has
listed. But it may at any time Hat
changes. In most codes 48 hours’ no
tice is required.
This brings the price Information
an all concerns in an industry to
gether, and perhaps does in effect
tend to make uniform and virtually
"fixed” prices. Nevertheless, each
company la prevented from making
secret arrangements with Its cus
tomers.
As long ago as last June, the N.
R. A. announced a new policy toward
pricing. In which the banning of
III 1 -.
aai—mii price tiring, Cave to ciuo
pmrtra. waa aat forth aa a general
principle: Vet a few boon, Indue
triee operating under codec with price
firing pwfriefane were thrown into
Jofaneon eiptolned that
thk new policy would apply only to
near eodn. thftt fTrtiMny codee were
not eutometlf lly changed by It
GAS HOLDINGS ACQUIRED.
CLARKSBURG, W. Vs„ October
19 (ff).-The Rope Natural Gas Co.
haa acquired the holdings of Ood«
trey L. Cabot, Inc, which include
110 producing veils, 1,100 miles of
pipe line and rights to sell to 000
domestic consumers Co*l Hirer
In Boone County.
GROW NEW HAIR
t |1
I ]
i I
l
a i
t
■
CM rid of that old-fashioned idea that hair cannot ha re
grown. haa found that tho halxHPVWtaf etracturo
(papilla) remains alive sad ready to vk,pond to proper
stimulative treatment even kmc after hair haa disappeared
isom the scalp.
/ Thomas haa found a way to stimulate this dormant hair
\ growing itrnctnro to normal activity. Pint, Thomas treat
ment remem the cause of inactivity (usually one or more
of 14 local sealp disorders) and then skillfully supplies the
necessary stimulation and thus makes it possible for tho
hair to gain sufficient strength to push thrq|gh the follicle
and become visible again on the scalp.
dome ha person to tho nearest Themas office TODAY and
learn more about this precise, reliable method of growing
hair, stopping hair-fall, and dandruff. Ho charge
will ho made for consultation or scalp examination. Ton
win not bo accepted for treatment unleu you case cornu
within the scope of Thomas methods.
v» • i m •-'*’*> *e
* » . ♦
Work?* Loading Htit.mnd Sctlp Specialist*—Forty-ffve Offices
Cor. N. Y. Avenue and 15th St., N. W.
HOUlt9*f A* M. te 7 P. M. SATURDAY Ml 4fP.IL *
iH'iii miai i a i 11 ri. .ujs^n m.. '■'—mi
THE NEW TELEPHONE
OlRSJCTORY CLOSES
OCTOBER 24
v . '
To order a telephone,
' extra listings, or ad
vertising in the yellow
pages just call
ME trop'olitan
9900
i i i
K 5
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Why buy any but the
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I
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Important item on your paiat
bffl...fortiponprintdapmd coats hot a few cent* more per
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you can buy for intarion and hearty aad yean of lasting
emrioa Wearied Sunlight- mar?
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1