The Washington times., 1928-03-12
LABOR STATUS
DEBATED
BY RICHARD HATTON

ny M1CnAEAO nA11ON
Considerable discussion il going
On at present in financial ana news
columns In regard to unemployment
In the United States The present
ntata Of demand for labor, both
skilled ana unskiIied, is very gen.
orally covered In the reports Of Gov.
arnmehtai Departments having to do
with this class Of statistics while
comment ranges from supreme pes
mimism to high optimism over cOndi.
tions as recorded by lay observers.
The unemployment figures upon
which the present discussion is
based, according to the Brookmire
Econon 10 Service Sare not az alarm.
ing ~ they appear on the surface.
This analyst Of conditions continues:
There Il no doubt at all that fac
tory employment has been declining
rather than rising for nearly two
years, but the figures now being
argued are largely a n after OF past
history rejecting the extent OF the
!. decline in business towards the end
q OF 1927. The strength =. wage rates
indicates that the present group OF
unemployed consists to q large ex-,
tent of casual laborers IND not Of
skilled, highly paid labor. It il true.
Of course, that with the increase Of
technical efficiency some skilled Ia
Dor has been dislodged from its Tor.
occupation, but this is q matter
OF slow development rather than
one which indicates sudden change
In general business"
Business Progress
According to the National City
Z Bank Of New York:
The reports on industry and
trade show that business has made
further progress during February,
but the situation Is still marked by
frregularity and prospects for the.
future continue confused. A mum.
Der OF important lines of industry
such az iron and steel and automO.
bile manufacturing have had SUBJ
ssantial recovery from the Decem-
ber-January low points, but taking
business as q whole the gains have
not been broad enough to carry gen.
eral conviction and the prevalent
attitude d still one of uncertainty
az to how much Of the recent i'm.
provement can be counted OF as
permanent"
The $4,000 holders Of Cities Ser
vice Company common stock will
shortly receive rights to buy addi-
ttonal shares In the RADIO OF one
new share for each 10 shares held
ut q price Of $4S per share, accord
Ing to an announcement made by
the company following a special
meeting Or the directors. Cities
Service common stock Is now sell.
Ing on the market at about $57 per
share.
The rights win Be issued to reg
Astered holders Of record at the
clnso Of business on March 2S, 1928,
and must be exercised on or before
April IL. 1873. The shares may be
purchased IN fun or under partial
payment plan.
Aside from any benefits that &C.
crte to common stockholders from
the rights, which cover approxi-
mately 431 900 shares, the issuance
will provide funds for further ex-
pansion, including new construction
and additions TO the subsidiary
properties and fdr other corporate
purposes.
Invited TO Subscribe
The $4,000 holders OF the preferred
and preference stock of record on
Z March % viii be invited to sub
scribe at the same price OF $46 per
share. subject to allotment under
such regulation As the board Of
directors may adopt, for any or
such common shares as may not be
purchased by common stockholders
The rights for common stock
holders rs well an blank forms for
subscriptions by holders Of pre.
ferred and preference shares are to
be in the mails on or about Aprfl 1.
Cities Service Company has had
record earnings In recent years: in
I 1927 net earnings reached high
mark OF $31 s062, 900. The organiza.
ton Is nationwide in scope and
has more than 100 subsidiary com.
panies which operate extensively in
the public utility, petroleum ami
natural gas industries. 1t has over
100000 security holders and more
than 20 per cent Of this number
own Cities Service common stock.
The board OF directors of the n.
Auth Provision Company. Inc, has
declared q semi-annual dividend of
. per cent, and an extra dividend
Of per cent on the common stock
Of the company. payable to stock.
holders Of record as OF March rs,
1928.
The year 1927 was one Of the
best years in the company's history.
This corporation has an uninter.
rupted dividend record for a years.
this being the fifty-sixth consecu.
tive dividend declared on the com.
mon stock. The company Is now
Issuing q limited amount OF Z per
I cent cumulative preferred stock in
order to further expand its opera.
tons.
Bank Report
The report Of the Farmers and
Mechanics National Bank in re-
Spouse to the call for statement OF
condition as OF February %. shows
. gain OF S27S,722 in deposits over
the report made as of December
81, 1927. The directors of the
bank have declared the regular
quarterly dividend of So per share
payable on April / to stockholders
Of record March %.
Crane. Paris & Co. will offer to.
morrow $1,O00,O0O of preferred stock
Of the Chestnut Farms Dairy.
WMN-~H- CA n.-AA