davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12

In wheat has been the news regard
ing foreign crops, particularly in the
Argentine, and the fear expressed
in some quarters Of the trade that
supplies might fall considerably be-
low earlier calculations.
The Governments estimate as OF
December l on the cotton crop placed
the 1925 production at Is ,603 900 bales.
The increase of over 100000 bales as
compared with the estimate of a fort
night before was much larger than
had been looked for. Cotton prices
broke badly after the Government g
figures came out, then steadied under
the influence of unfavorable weather
news.
French francs struck a new low for
the year and the lowest since March,
1924. when the rate touched the rec
ord low Of 3.42 cents. The selling was
accompanied by reports from Paris
that the new finance minister had run
against what appeared to be insur-
mountable obstacles in his attempts
to bring France out OF her financial
difficulties.
Copyright. 1880
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
By STUART =. WEST
Speciai Dispatch to The Star.

Spttlaf DlSpdtCn 10 Inc StdT
NEW YORK, December 1.-THE
emphasis laid during the past week on
the improvement in trade and the out
look for 1925 has been the chief in
tiuence in the stock market and the
subject Of absorbing interest in the
business world. In nearly all impor-
tant branches of industry the trend has
been toward increasing production and
profits. The views of the President
and of the Secretary of the Treasury.
the favorable reports from the great
commercial centers and the larger dis
tributions by numerous corporations
to their stockholders have reflected
the change for the better which has
occurred in the year now drawing to a
Expansion seen in 1924.
Wall Street late in 1924 began to
discount an era of business expansion
and freedom from political interior.
ence. In the IL months that have
elapsed confidence has been restored
and the buying power Of the public
has grown. In some departments, as
Dun's review expresses it, production
and distribution are without peace
time precedent" Six months ago the
|. disposition was to buy tor immediate
necessities only. Stocks of goods an
dealers hands were small and forward
business was held pretty we'll In check.
But conditions have gradually adjusted
themselves and preparations are being
made for an active Spring demand.
The United States Steel Corpora.
tons statement of untitled tonnage as
Of November 80 disclosed the largest
increase since March. The slowing
down of output in Midsummer was at
tended by low average Of prices for
finished steel products, and these con.
ditions meant a smaller rate Of in.
come. The recovery, however, has
been more satisfactory than had been
generally expected, and the reports OF
heavy buying Of steel products, espe.
cially by the railroads. indicate fur.
ther substantial gains.
The railway equipment companies,
which have operated in red figures
during the greater part Of 1925, now
anticipate a turn for the better in
their business. Railway equipment
buying has picked up materially and
the probabilities are that this will con-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
BUTTER MARKET QUIET.
Price Declines Reported as Week
Advances.

CHICAGO. December Il CP).-The
features Of the butter mar.
kets during the week were the lack Of
confidence on the part Of operators
and the resulting quiet trading.
Early in the week, however, a fairly
active buying demand for consumptive
purposes gave a firm appearance to
the markets and some price advances
were registered on top scores. This
flrmness was short lived. however. and
by Wednesday all markets were again
unsettled and signs of weakness were
in evidence with price declines result.
ing on Thursday and Friday.
Buyers at all times were exception.
ally conservative and operated close to
current requirements. In some quar-
tiers the lighter buying was attributed
to a decrease in consumption. AL.
though the markets were easy and un.
settled and buying demand considered
unsatisfactory. there was sufficient
trade to keep stocks fairly we'll cleaned
up. At Chicago the top scores were
liberal and throughout the week the
fine marks were moved only with con.
siderable effort.
Eastern markets. on the contrary,
reported only limited quantities Of fine
butter and ample supplies OF the me-
dunn and lower scores.
Offerings of storage butter during
the week were quite liberal and in
many instances sellers were inclined to
offer concessions in order to effect
sales.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
BUSINESS OUTLOOK FOR 1926
ABSORBS MARKET INTEREST
Upward Trend Noted in Nearly All Industries-Ex
ira Dividends Reveal Trade Condtions-New
High Marks in Stocks.

tinue we'll into the new year. This
branch Of trade has been one Of the
outstanding exceptions until now to
the generally prosperous state Of
trade. The securities representing 1t
have been in more active demand in
the last week than at any time In
months, which has strengthened the
view held in cqpservative quarters
that the new year will be as important
for railway equipment company earn
ings and stock as 1925 has been for
the motors.
A number Of important industrial
and railway companies have either
raised their regular cash distributions
to shareholders or have declared extra
payments. Among the more impor-
tant Of these have been the Western
Union and the Southern Railway.
The Florida real estate boom has con-
tributed to the prosperity of the
South, the big demand for farm nipple.
ments has told ofs the favorable con-
ditions in the agricultural communi-
ties and the reports Of mail order and
other representative enterprises have
revealed the greater volume Of retail
trade.
The stock market has gone along
at a leisurely pace and toward the
end of the week established Il new
high average Of prices for the
year. This was approximately $40
above the average on the first OF
January. Speculation has converged
on the rails, the oils. the steels and
the -ailway equipments. 1t has
Quieted down in the motors and in
a host Of so-called specially stocks
Reserve Ratio at Low Point.
Money has played no part, in the
proceedings. Call funds have re-
newed at s per cent since the outset
Of the month. The fact that New
York Federal Reserve directors saw
At to MAINTAIN a az per cent dis
count rate. the lowest for the on
tire system, neutralized whatever
adverse effect might have resulted
from the very low reserve ratio. This
figure now stands at the minimum foI
the year.
The grain and cotton markets have
undergone sharp changes during the
week just ended. Wheat and corn
made some remarkable gains. but
lost a part Of these. The main factor
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
DUN'S REVIEW REPORTS
TRADE AT NEW GOALS
Many Industries, Long Dormant,
Now Active-Christma Buy
ing Excellent.

BY the Associated Press.
NEW YORK. December 12.-Dun's
Review today says:
production and distribution In
many departments Of trade are with.
out peacetime precedent. Advices
this week from leading cities In all
sections of the country continue to
tell Of exceptional activity, with fu-
ture prospects particularly bright.
Industries long dormant are reaching
fresh goals as to earnings, and the
disposition Is strong TO expand opera.
tons and to make future commit
ments with greater freedom and with
more confidence.
"Piecemeal buying does not DOM
mate the situation as 1t did earlier In
the year. In some wholesale depart
ments. however, film orders from re-
tail dealers are met with as usual at
this season, owing to the desire to
enter the inventory period with mini
mum stocks.
Christmas buying at retail Is now
on In earnest. and not only Is its
scale more liberal than In former
years, but its scope Is broader. Fur
thermore. retail absorption of season
able staples. assisted by weather con-
ditions, Is also in gratifying volume.
Weekly bank cleartngs. Ss.347.-
o36 900"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
LITTLE TAX SELLING"
LIKELY THIS YEAR
Stocks Are So High That Traders
Will Omit "Esta blish-
ing Losses"

By the Associated Press.
NEW YORK, December BE
cause Of the fact that the general in
dustrial and railroad averages are
around the years highs, many stock
market observers do not anticipate
that so-called tax selling" or selling
for the purpose Of establishing losses
under the income tax law. will play
an important part in the markets this
month
Most large traders who have car
rfed long lines Of stock and still have
them are repor ed to have accumu-
lated large profits. and II is considered
likely that, unless there Is an early
marked change in speculative senti-
ment. they will defer extensive profit
taking until after the first Of the year.
so that incomes derived therefrom
will not be payable until March. 1927.
Relatively few stocks have depreci-
ated sufficiently from their highs of
the year to justify tax selling" the
list including American Wooden. NAL
Hnson Silk, st. Paul common, United
States Industrial Alcohol and some of
the sugar stocks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
STORAGE EGGS PILE UP;
DECREASES IN TURKEYS
Agriculture Department Also Re
ports Less Butter Held in
Cold Storage.
BY the Associated Press.

By the Associated Press.
Increases in cold-storage stocks of
eggs and decreases in stocks Of tur-
keys and butter. as of December /,
were reported today by the Bureau
Of Agricultural Economics.
There were 3,7S0,000 cases Of eggs
in storage December l, compared with
100000 a year previously, while the
quantity Of frozen eggs increased
from 22,100.000 pounds to 1880, 900
pounds.
Creamery butter stocks. although
above the five-year average, showed a
drop from last December of $4,000, 900
pounds, or nearly Is per cent.
Turkeys in storage amounted to
5,143,00O pounds December 1, COM
pared with $3.50 900 a year ago.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
Kansas Cow Milk Record.

The highest known record for milk
production for dairy cows is now being
set by COW in the college dairy herd
at the Kansas Agricultural College, at
Manhattan. says the Topeka Capital.
She Is giving over 70 pounds Of milk
daily, or almost SIa gallons. Four
and one-ha,f gallons is a good record
for an ordinary Ayrshire, according to
prof. r. II. Lush of the dairy depart.
ment.
The Kansas State Agricultural Col
iege dairy herd is one Of the best pro-
ducing herds in the country. 1t con-
Iatns IS cows, SO of which are being
MIXED at the e4esent time.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
NEW YORK CURB MARKET
Received by Private Wire Direct to The Star Office

cents a barrel was reflected in the
market for oil stocks. Vacuum stood
out strongly, and special buying in
South Penn carried the price UP al
most points. Lago Oil and Trans
port ind Lago Petroleum were active
ly taken at fractional improvements,
while others generally were higher.
The upturn Of 21a points in Fajar.
do Sugar was coincident with strength
In South Porto Rico Sugar on the
Stock Exchange. This appeared to re.
fleet the better position OF Porto Rico
producers over Cuban companies, as
Il result Of the tariff protection. The
industrial section lacked feature, blu
most changes were on the side OF
higher prices.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
COTTON SELLS Off
IN TRADING TODAY
Foreign Interests Prove Good
Buyers and Prices Are
Steady at Close.
Dy the Associated Press.

NEW YORK, December 1.-THE
cotton market today opened steady
at a decline Of 3 to IA points and sold
TO 16 points net lower within the
first few minutes under overnight SELL
ing orders. attracted by the easier r7il-
ing OF yesterdays markets and which
included some Southern hedging.
A good demand developed around
1890 for March and 1885 for July,
while foreign interests were buyers
Of October at the decline to the 18-cept
level and prices steadied up before
The end Of the first half hour.
Week end covering was considered
one of the chief factors on the rally
Of S or 10 points from the lowest. but
some trade and commission house
buying was reported on the opening
decline
New York futures closed barely steady at
a e decline On pQinfs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
BALTIMORE EXCHANGE
HAS VERY FINE YEAR

Spe cial Dispatch to The Star.
BALTIMORE, December 1.-THE
business Of the Baltimore Stock Elk
change during 1925 will show a heavy
volume and will compare most ia
vorably with any preceding year
There have been a number of new
listings during the year. with prob
ably a dozen or more issues to be
placed on the exchange between now
and February !, and this will help to
still further increase business. The
officers and governing committee OF
the exchange are very optimistic
about conditions and predict that 1926
will show a still further growth OF
business.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
DIVIDENDS DECLARED.
More Disbursements Arc Voted in
= New York Today.

NEW YORK. December IL R.--
The State Bank of New York has de-
clared a stock dividend Of rs per cent
in addition to the regular quarterly
payment Of 4 per cent. Directors have
called a special meeting of stockhold-
ers for December % to vote on pro-
posed increase in the capital stock
from $4,000. 900 to 100000. Present
holders Of seven shares will be offered
rights to subscribe to one new share
at 500.
Directors of the Auto Sales Corpo
ration have resumed dividends on the
preferred stock by authorizing a pay
ment of $3.50 a share. The last pre-
vious dividend was paid in 1921:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
DIVIDENDS PUT OFF.
Lehigh and Wilkes-Barre Coal Com,
pany Defers Action.

NEW YORK, December IL R).-Di-
rectors OF the Lehigh and Wilkesbarre
Coal Co. have deferred action on the
usual quarterly dividends Of 50 on the
common shares and S71a cents on the
preferred. normally payable at this
time. The suspension Of anthracite
mining. which has kept the company s
mines closed siRce September /. is
understood to have Influenced the de-
cision. In April, 1924. the company
declared a 200 per cent stock dividend
and thereafter maintained a 50 quar-
terly rate. with an extra dividend of
s. last January.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
CAR AND FoUNDRY's NET.

NEW YORK. December IL P.-
Net income Of the American Car and
Foundry Co. for the six months ended
October 81 totaled $2.1o7.91S, after
taxes and charges. This is the first
semiannual statement issued by the
practice will be followed hereafter
Although no comparisons with the
corresponding period Of last year are
available, net income for the entire
fiscal year ended April 80. 1925, totaled
$6,164,104.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
NEW HOUSE MAKING PLANT.

NEW ORLEANS, December II
Especially The McAvoy Homes Co
VI New York has leased building
here for a factory to make knock
down homes of cypress lumber and
yallboard made from sugar cane
oagaSse.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
PRESENT COPPER STOCKS,

NEW YORK, December IL P).-
Stocks of refined copper in the hands
Of North and South American pro-
ducers totaled 67.S3S short tons on
December l, compared with 1885 tons
on November I, the American Bureau
Of Metal Statistics announced today
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
BY WILLIAM F. HEFFERNAN

NEW YORK. December 12.-The
outstanding incident in the week end
trading on the Curb Exchange was
tie pronounced weakness In radio
stocks.
Ware Radio broke badly, being
a new low record at /, where 1t com.
pared with the previous final of 4.
A break of almost points took place
IN Dubflier Condenser and Radio,
when 1T changed hands at 81. Fresh
man and Freed. Eiseman also were
under pressure.
Although an advance in crude oil
mad been expected, the raising of
pennsylvania crude quotations rs
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
CRUDE OIL ADVANCED.

PITTSBURGH. Pa, December II
P-An advance of rs cents bar
rel in the price of six grades of Penn
,yIvania crude oil was posted by
leading purchasing agencies today.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
DECLINES IN EGGS
At CENTER MARKET
Warm Weather Proves Some
Help to Buyers-Meat
Prices Very Steady.

Several reductions In the price of
fresh eggs were the interesting feature
Of the weeks market. Decentralization
Of the market was brought about by
largely increased shipments. accord
ing to reports of dealers. Decreased
shipments one day, 1t is stated, caused
a slight change in the market, but
prices were not boosted.
Dealers expect increased receipts
the coming week unless this section IS
visited by a severe spell Of weather.
Even should cold weather condition
prevail, 1t Is stated, prices probably
would not remain higher more than
a few days.
There has been no appreciate
change in the butter market this
week. There was a tendency towar
a firrner market reported. but the
retail price was not affected.
Slight changes in poultry prices
during the week left the market at
the close of the week not much diner
ent from what it was at the begin
ming of such period.
Meat prices only slightly f1uctuated
during the week. Merchants do not
anticipate much Of rush until the
beginning of the approaching holiday
season
Today's Wholesale Prices.
Butter-Fancy, 1-pound prints, 55a
81: tub, 52a54 ore-packed, 4oa45.
Eggs-Local, fresh, fancy selected.
candled 5Sa62; average receipts, 52a
SIS; storage, 35a39.
Poultry-Alive, turkeys, top, ISAAC;
small and thin. 35; Spring chickens.
3oa33: fowls, 27a2s; Leghorns. 20a23;
ducks. 25; geese. 25; keats, scars; rab-
bits, top. 30a35: seconds. 15a20.
Dressed-Turkeys top. 43a45; small
and thin, 35a38; Spring chickens. 33a
So; fowls. 38; Leghorns. %; ducks, 80;
geese, 80: keats, S0a1.00.
Live stock-Calves, IA; hogs, 1872.
Meat-Beef, II; lamb, 80; pork loins,
2Sa30; pork shoulders, %; fresh hams,
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
Your Banker, Knows,

When In doubt about a security
consult your banker. 1t Is equally as
much his interest as your to protect
your savings. You trust him with
your deposits-why not trust him
with your investment problems?
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12

New Orleans Quotations.
NEW ORLEANS, December IL Up.
Although the market was supported
for time by expectations of a bullish
consumption report expected Monday
from the Census Bureau, late selling
pressure increased, owing to the feai
Of large ginnings for the current pc.
riod, because Of the favorable weather
for picking and ginning. January
eventually dropped to 1882. March to
1928 and May to 1905. Little buying
developed on the decline which caused
prices to rally few points. but the
market turned easier at the end and
closed at a net decline for the day Of
ii to IL points.
New Orleans futures closed steady at a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
RETAIL TRADE NOW
MASH|NG RECORDS
December to Be Largest
Month Ever Known for
Holiday Purchasing.
BY j. c. ROYI.E.

Special Dispatch to The Star.
NEW YORK. December 12.-Retail
trade gathered itself today for final
squirt with which to close the year
1925. There now appears little doubt
that the volume of trade this month
will exceed that for any previous
month by record by over 10 per cent.
But merchants want to be shown"
and are prepared to check any tend
ency toward a slump before Christ
mas.
1t is notable that the volume OF
trade Is being better maintained in the
moderate sized towns than in some
OF the larger, centers. Despite this
some OF the big stores are reporting
sales days ranging from $4,000 to
100000. Wholesale sales organiza-
tons are not waiting for January
70 lay out preliminary selling sched-
dles for the next year. They will start
putting these efforts into effect imme-
dlately after the turn of the year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12

Edison's Winter home L. on tho Ca
loosahatche River, western coast OF
Florida
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
Plants Are Slowing Up.

The volume of manufacturing is
dropping slightly, as plants are closed
Tor inventories, repairs and adjust.
ments. The taking Of inventories will
be short-li lived business this year
since stocks are small. Some mills
ana factories. notably the steel plants
VIII check production only at Christ.
mas and even then some plants will
not close entirely.
The steel business Is maintaining its
pace. and some Independents have
stepped production up to 80 per cent
d capacity, or more. and the volume
or untitled orders of the leading inter
ests. totaling Az, 597 tons December l,
assures heavy production in the near
future. A slight reaction Is antici.
pated by some in the latter part Of the
Winter. Active exploration and de.
velopment work by diamond drills Is
going forward in the iron mines along
ne Minnesota ranges. The operators
are determined to increase ore re.
serves In anticipation of high demand.
Industrial employment in the an.
tomobile plants at Detroit fell of A
survey shows q total industrial EN-.
ployment there of 262,S58 workers, a
loss of 563 for the uoek
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12
Construction at Peak.

Building construction now under
way Is the heaviest ever recorded for
this time of year. This has aided
building materials. Untitled lumber or.
ders at Southern pine and West coast
mills amounted to 04.57275s feet.
not quite SO large as a week ago. &c.
ment mills are active. especially In
the South.
canned goods, groceries, dairy prod.
lets, tea and coffee all were fairly
firm. Flour fiuctuated with the excited
movements in the wheat market
which reflected farmers sales. Live
stock Is firm on low feed prices
Thirty centrals now are grinding
sugar cane in Cuba and the refined
sugar market was unchanged.
Oil continued to better its position
with premiums being paid in some
grades In various fields and some
slight advances in regional gasoline
prices. Bituminous coal output con
tinued large. and the efforts toward a
settlement Of the antracite strike made
little progress. Gas consumption is
rising steadily. according to reports
from public utility companies.
Commodities In Review.
Rubber fiuctuated only within mar.
row limits despite the excited trend
In London and a threat OF a 20 per
cent tire price advance in Great Brit.
ain. Raw silk showed every evidence
OF firmness. both here and in primary
markets. Cotton goods gained no
price strength from the latest Gov.
eminent crop announcement, which
placed raw cotton yield at 1860, 900
bales. However. plans are going for.
ward for the stepping up Of produc.
ton in New England mills.
Business in lead. tin and zinc was
OF modest proportions, but copper buy.
ing was heavy this week, although
most transactions were recorded as
low as IA cents a pound. A slight
drop in lead was balanced by an equal.
ly slight rise in zinc.
Railroad freight traffic continued
exceedingly heavy and II is now ap.
parent loadings for the year Will ex.
coed 51,00U.000 cars. Holiday pas.
senger traffic promises to be very
heavy, and roads already are prepar.
ing to handle the excess crowds
Coastwise steamship traffic has be-
come the heaviest ever known in this
country, under influence of the Flori.
da excitement.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-12

NEW YORK. December 12-Fol-
lowing Is an official list Of bonds and
stocks traded in on the New York
Curb Market today.