Casper Daily Tribune Newspaper, August 20, 1924, Page 7

WEDNESDAY, AUGUST 20, 1924. iy ~ Casper Daily Criduni PAGE SEVEN. Oil :: (Copytight, 1924, Casper Tribune) Cotton ‘ ATLANTA—Southern capitalists have applied for a charter for the Southeastern Compress and Ware- house company which will take over the plants of the Atlantic Compress and Shippers Compress compantes, now id the hands of receivers. The new concern will operate 18 ware- houses and -16 companies with ca- pacity of 1,500,000 bales per season. FORT WORTH.—Forty new cot- top gins now are under construction in the north plains district of the state. Dairy Products CHICAGO.—Reports, from the bu- reau of agricultural economics here show that 9,264,000 dozen cased eggs are stored, compared with 10,- 609,000 last year, while 35,154,000 dogen frozen ¢ggs aro in storage Ar oe with 36,192,000 dozen in 1993. Shoes HAVERHILL, Mass.—The great- est waste in the shoe manufacturing business at present {s the waste of time, according to the Haverhill Shoe Board, which urges the manufac- tufes to make a close study of op- ecrators’ time. - Fruit ABATTLE.—Local canners are paying $20 o ton for fresh Oregon an@é Waehitigton prunes and. new Finance co-operative associations are seeking outlets in other sections for the green fruit. the Ozark grape crop which will begin to move from Ar- kansas points this week. About 922 cars are expected to move this year. Coal A JEFFERSON CITY, Mo—Tho lat- t figures for the Missouri crop indicate a yield of bushels, compared with 30,363,000 last year and a five year average of 45,106,000. wheat 13,000 Textiles eae Mass.—The plant of the Dwight Manufacturing company got back to the usual schedules this week after the calling off of the loom tixers’ strike. { FALL RIVER, Mass,—The Shovee mills Which have been closed down for a month, have resumed on a 3- day a week schedule. Steel CUMBERLAND, Mo.-Operations at the bar mills at the tin plate Plant of N. and G. Taylor have beon restmed. This department and the open hearth have been doing but Iit« tle since the latter part of June. The open hearth department. prob- ably will not be operated until early fall. (Copyright 1924 by Consolidated Press Association) Advice To An Amateur The writer met a professional man in a brokers office the other day looking for investment advice. He owned a small block of the com: mon stock of a certain industrial corporation which he had bought in ood faith at the time it was pay- ing dividends as an investment. He bought at the top price as 80 often happens. Soon afterward depres- sion set in, this particilar company passed its dividend and the price of shares suffered a sharp break. But the man held on regardless of the lous of income. . Then the outlook Decame more favorable, earnings in- creased and under the influence of an advancing stock market genq erally, shares of the company had until the investor's hold- ings showed him only a loss of four of five points. This professional man asked my n as to what he should do. I told him the stock he was holding ‘was highly speculative, that it w: in no senge an investment and that sooner or later he ought to dispose of it inasmuch as he admitted he ‘was in ‘no pogition to take risks with his small capital. He thougat this advice good, but opjected could not afford to sell until the quotation had advanced to the Price originally paid. “Beside: said he, “if the earnings are impro' ing and business is picking up as apparently it is, the dividend will be resumed and then the price will go up and I will have a profit in- stead of a los Investment I tried to explain that this did not necessarily follow. The mere fact that the dividend was restored Would not of itself put the stock back in the investment class. It Was even more doubtful, I told him, that the stock would keep up its advance after favorable dividend ac- tlon had been taken. What was happening in this particular inst- ance is what goes on in Wall Street continually. Speculatora had been buying this stock in the expectation that the shareholders would event ually receive some return. But when that time came, if it did come, the speculators who had been buying Would be ready to selj in order to Tealize the profit due to their fore- sight. The result would more Ike- ly to be decline than a further advance as soon as the dividend had actually been declared. The amateur speculator persuades himself that in cases like these bon- afide investors will spring up ovet night to take his holdings oft hands. That rarely happens, ° vestors are more calitioud,, If they are. wise they are nop t ie i mon stocks just because & divi is belmg paid, They look back over the record of the years. ‘They want some assuranés of continuity of payment in bad times as Well as good. My Friend's stock was a speculation when he bought it. It is a speculation now. It will still be a speculation when and if the dividend is restored. He must make up his mind to do one of two thing: He must sell out now, accept his loss and reinvest in some sound security. Or he must go on speculating. Cost of Building Is On Decline Throughout U. S. By J. C. ROYLE. ; (Copyright, 1924, Casper Tribune.) NEW YORK, Aug. 20.—Costs of Dufldings are declining. That 1s, buildings ere being put up today for less money than ‘similar build- ings cost a year ago or some months Ago. This does not mean, however, that wages for labor have declined or that prices of materials have suffered any decided drop. Along those lines, the movement has been one of stabilization rather than re- duction, according to reliable reports from variaus sections of the coun- try received by telegraph today. The lowered cost of completed buildings, these reports agree, can be traced tq economies in buildings, to more careful planning of struc: tures, the use of more progressive methods, elimination of waste in matorial, standardization of ma- torfals and general use of intensive efficiency systems. The trend of wages both in the building trades and in the manu- facture of materials has not been noticeably downward, although the time of bonus payments seems to have passed. Building is slowing down somewhat, but in the last month the loss as recorded in 26 principal cities in the country was less than 1 per cent while permits issued in 301 cities involved expendl- ture of $264,806,000 as compared vith $248,461,000 in July, 1923. The “decline has not been sufficient to bring about a surplus of building artisans such as might precede a marked drop in wages. Contractors in fact, express no marked desire for @ sharp Yeduction in the pay of labor, feeling that it would be at- tended by an equally striking loss in efficiency. The building program already un- dertaken and known to be in pros: pect have tended toward stabiliza- tion of material prices since they insure steady demand for brick, cement, iron and steel, lumber, sand, gravel, lime, paint, electrical equipment, furniture and hardware, with consequent steady employment of labor in those industries. Another potent factor toward stabilization has been the lengthen- ing of the construction “season. This has assured better djstribution of ac@vity throughout the year than ever before. Builders have learned to cope with adverse weather con- ditions and for nwst types of con: struction it is now possible to build the year round fn all parts of the United States. Formerly workmen averaged a loss of 106.40 days a year in St. Paul on account of bad weather, 83.70 days in Denver, 74.60 in Boston, 67.50 in New York, 59.70 in St. Louis and 27.35 in Atlanta. ——— HPPOINTMENTS BASED IN FITNESS PROMISED BY JOHN W. DAVIS NEW YORK, Aug. 20.—In filling governmental positions John W. Davis, as president, would “consid. er only the ability of tho applicant and his fitness for the position which he wishes to occupy," the Democratic candidate for president declaréd’ in a letter to Eugene McIntosh, execu- tlve leader of the Bronx Colored Voters Democratic Progressive as- sociation made public today. Mr. McIntosh in a letter, has re- minded Mr. Davis that he had not included the word “color” in a phrase of his acceptance speech in which he declared that in making appointments in the event of his election he would “set up no stand- ard of religious faith or racial orig- in as a qualification for any office.” | The letter continued: “Since the national Democratic party in the past has not seemed to favor presidential appointment to of- fice of colored citizens, may T not ask you direct the question. If be- ing a colored citizen would be a bar to presidential appointments by you if elected president’ The Democratic candidate replied. “My acceptance speech meant ex- actly what it said. In making ap- pointments I shall consider onty the ability of the appli¢ant and his fit- fess for the powition which he wish. es to occupy.” TOO LATE TO CLASSIFY Pemnealend Randa ead inde Seta emtetatitay FOR TRADE—30x40 Carbine, cart- ridges; wanted 20x26 Carbine, or sell for cash. 323 8. Lowell. . Ametican Locomotive ~s..--. 82 Américan Smelting & Refg. ~ + 77% American Sugar -.........-. 45% American Tel & Tel ..........129 American Tobacco ...-- -.... 152 American Woolen ~....-.... Amer. Zinc, Lead & Snielt naconda Copper Chicago & Northwestern Chicago, Mil, @ St. Paul ptd Chicago, R. I. - &Pac ..-..--- Chile Copper ~....s...------ } Coco Cola... ee Colorado Fuel & Tron ...--. 51% Congoleum - -~ss0s---.-----. 60 Consolidated aGe ~9-.---«---- Corn Products, new -.—-.. Cosden Oil . on Crucible Steel .-------.... Cuba Cane Sugar, pfd --.... Davison Chemica] ~....-...- Du Pont de Nemours ~....— Brie — <.-.-.2--cesesceccesre 29% General Asphalt --.cccsess5 General Blectrio ....+----..- General Motors ~-.....---..- reat Northern, pfd «.+----.-- Gulf. States Steel ..-.-.....- Houston Ol!’ — Tilinois Central International Harvester Int. Mer. Marine pfd --. Int. Tel & Tel. ~.-.. Invincible Ol Kelly-Sprinyfield Tire Kennecott Copper assesses. Loulsville &@ Nashville Missourl, Kan & Tex, ~-..... Missouri Pacific, pfa National Lead New Orleans, Tex & Mex —.- Centra Producers & Refiners -.....-- & Steol -...... Reading ..... Republic Iron Transeontinental Otl —.. Union Pacitio ~. United States Rubber United States Steel .. Utah Copper ...... Westinghouse Electric Willys-Overlana . Woolworth wecwenes= 14% 15% co 60% 43-47 143147 oT 134 90% 23 66 85 56% 20844 106% 183 93 33% 11 238 29% 284 64% 127 % 67 CRUDE MARKET Cat Creek Lance Creek Continental Cumberland Ulnols eo rewe wenn ne $1.45, we rewreeeeeeeeee 1.40 ARSE RR SIE YT § Grass Creek, light ~-..-...--.. Grass Creek, heavy ee od) Salt Creek ..----.------cs-e- 1.10 Big Muddy ~-.2222---. 100 Mule Creek ~-224---2-s 2.60 Sunburst Butter and Eggs CHICAGO, Aug. 20.—Butter, high- er; creamery extras; 37¢; standards, Bic: extra firsts, 35%@36c; firsts, 34% @35c; seconds, 32@33%e. Eggs, higher; tecelpte, 11,706 cases; firsts, 30@s2c; ordinary firsts, 28@20c. ¢ Bonds : : Stocks’ :: Grain Livestock :: All Markets EWS AND QUOTATIONS BY LEASED WIRE is SECURITIES Bid Ask Bessemer 2e 5 28 Big Indian ..---- .04 04% Boston Wyoming --. .90 92 Buck Creek .-.-.--- .14 a6 Burke . ~....------ .26 27 Black Stone Salt Crk. .28 30 Chappell ~ + oh Central cape s-e----—-- 20 5.00 Consolidated Royalty . 1.19 Cow Quich -.-..... .03 aa ris Dpmino mo iene Soe a BE. T. Will ens 27%) 28% Fargo ----—-—-.--.. 05 07 FYOMS cssceeweeneenne 6.50 = 7.00 = 03%. -.09% TUDO wencne-eaen= 00% -01 Kinney Coastal ---.. .07%% .08% Roy, & Prod, —-.... 05% a a ih LET, 14 ‘Tom Bell. Royalty -- .03%% .04 Western Exploration ~ 3.40 3.60 ‘Western Oil Flelos -.. 15% 16% Western States ..... .14 15 Wyo —< Mountain Producers — Glenrock Oil 18.00 15 ~ 23.75 Prairie Ot) Mutual Chicago Prices. CHICAGO, Aug. 20,—(U. 8.-De- partment of <Agriculture)—Hogs— Receipts, 14,000; moderately active on desirable grades;. steady to étrong with Tuesday's best prices; ight lights sinooth’ packing sows and slaughter pigs strong to 15¢ higher; no demand fdr:lower grades; Packers bidding steady with Tues: day's low point, or around 100 lower; light receipts; top, $10.25; bulk good and choice 160 to 240. pound averages, $9.80@10.10. able 260 to 825-pound bute! @10.00; packing sows, better 140 to 150-pound $9.40@9. weight shter pigs, $8.75@9.25; heavy. weight hogs, $9.50@10.10; medium, $9.70@10.15; light, $9.10@ 10.15; light light, $8.50@9.90; pack. ing hogs, smooth, $8.50@9.00; pack- ing hogs, rough, $8.00@8.60; slitign: ter pigs,. $8.00@9.25. Cattle—Recelpts, 11,000; fed. year: ings, scarce, active, strong to 25e higher; desirable handy weight fed steers, stcady to strong; shipping de: mand, broad; heavies, slow; weak to 150 lowe: early -top yearlings, $11.00, that price bid’ well for well conditioned handy weight: steers; best heavies early, $10.75; bulk fed steers and yearlings, $8.50@10.50; fresh receipts incréased by liberal holdover from Tuesday; she stock and bulls, steady to strong; vealers steady to 260 higher; packers and outsiders paying $12.50 to $13.00 for choieé offerings; run includes about 25 loads northwestern rangers: and Canadians, mostly instécker flesh.. Sheep— Receipts, 19,000; tat lambs, steady; undertone, weak; bulk fat natives, 13.75@14,00; few to city butchers, $14.25; sorting moder-| ate; oulls, $9.00@9.60; early rangers, 14.10@14.25; sheep, dull; weak to 25¢ rs, $9.75 $8.40@8.85; averages, good and choice strong sales feeding lambs, steady; medium weight feders, $12.75; some held around, 13,25, Omaha Quotations. OMAHA, Neb. Aug. 20.—(U. 5. Department of Agriculture).—Hogs —Receipts, 9,500; mostly 10 to bo higher; better grades butchers, ac- tive; others, slow; bulk 200 to 300. pound butchers, 9.35 to $9.50; top, $9,.65; desirable 150 to 200-pound weight, $9.10 to $9.35; packing sows, Mostly, $8.35 to $8.60; bulk of all sales, $8.40 to $9.50; average-cost Tuesday, $8.82; weight, 270. Cattle—Receipts, 6,800; best sters and yearlings, very slow; un- even, 10 to 2ic lower; early sales mostly yearlings and -. medium weight steers; heavy offerings, very slow; bidding fully 26c lower; . bulk steers and yearlitigs, $3.25 to $10.00; few loads upwards to | 310.50; she stock, slow, steady; “bologna bulls, weak; vealers, steady, stockers and feders searce; fully steady; grass cows and heifers, $3.00 to $5.01 bologna bills, $3.25 to $4.00; stock- ers and feders, $5.50 to $7-15. Sheep.—Recelpts, 19,000; steady; natives, $12 western, $13.35 to $13.75; sheep, 25c to 60c lower; early sales fat ewes, lower; good range éwes, $7.00; early? PROFITS TAKEN IN STOGK MART Bullish Activity In Industri- als Is Used as Screen In Selling NEW YORK, Aug. 20,—Bullish demonstrations in several industrial specialties were used as a screen for extensive profit taking in other sec- tlons Of the list, giving today's stock market, one of the mwst ac- tive this year, an irregular appear- ance. United States Steel oom- mon touched 1.11%, the highest price in five years, Sales approx- imated 1,300,000 shares, NEW YORK, Au Pressure of profit taking, stocks whioh had #own recent strength drifted lower at.the opening of to- day's stock market, with other is- sues fluctuating within narrow and irregular limits: American Can fell back a polnt and Allis Chalmers 1%. Heaviness of United States Rubber reflected a drop in earnings in the first half of the year? Although buying power appeared to be lacking for pivotal industrials in the initial . dealings, operations for the rise were resumed in other sections of the ist. In the first half hour of trading new high records wero created by ‘wbout a dozen shares, including Missourt Pacific preferred, Mack Truck and White Motors, the latter two moving up 2 and 2% points. Western Union was driven down 21% points. “Nickel Plate’ down 1% and American Smelting one. ited States Cast Iron Pipe rallied a point. Foreign exchanges opened lower. Profit taking sales were readily absorbed and the {ndustrials were headed upwards again around noon under the leadership of United States Steel common, which touched 111%, its highest price since 1922. Buying was on a large scale, total sales in the first hour exceeding $40,000. Ratls were sluggish with fresh Weakness cropping out in some of the so-called Van Sweringen issues, Nické? Plate dropping 2% and Chesapeake and Ohio 1. Ameri: 20.—Under GRAIN PRICES WEAKEN AGAIN| Weather Reports Aid Bears In Holding Down Quo- tations Today CHICAGO, Aug. 20.—Persistent selling by commission houses made wheat prices average lower today during the early dealings. Bearish estimates of the spring crop yield in the Dakotas, and Minnesota were a factor, According to a leading au- thority the production in the three states promised to be 65,000,000 bush- els more than the latest government estimate! Opening quotations, which ried from unchanged fig- ures to tc lower, with September $1.27% to $1.28 and December $1.32% to $1.38 were followed by numerous fractional changes and then by a material setback all around. Most of the selling appeared to come from northwestern and east- ern sources. Weather conditions both south and north of the Cana. dian boundary were more favorable for harvesting and for the crop movement. Prices closed easy, % to %c net lower, September $1.27% to $1.27% and December $1.32% to $1.224 Warmer temperatures led to a pronounced drop in corn values. At first, however, the market showed considerable strength as @ result of adverse crop reports, especially from Towa, After opening at one cent decline. to 40 gain, December $1.16%5 to $1.18, the market showed slight general upturns, but later re- ceded 2 cents or more under yester lay’s finish. Hot winds {n Kansas were re- ported, and it was a general accept- ed opinion that hot weather would be experienced over a good part of the main corn belt for several days, at least., The close was weak, % to 1%c net lower, December $1.15% to $1.16. Oats followed corn. Starting un changed to tc higher, December 57% to 57%, the market rose a@ ttle further then went below yes: terday's latest figures. Provisions were without signifi- can Water Works advanced 4% points and Mack Truck, General Electric, Consolidated Cigar prefer. red and White Motors,moved up 3 points or more. Call money opened at 2 per cent. Bnergetic efforts to drive in a stubborn short interpst continued unti] well in the afternoon when a number of shares rose in a rather striking fashion. American Can reached 12614, @ record figure, and May Department Stores, United States Alcohol, Stromberg Carbur- tor, Bosch Magneto, Nash Motors, and United Drug sold 3 points high. er. Some pressure was noted against Davison Chemical, Alliod Chemical, Cuba Cane Sugar pre- ferred and Kennecott Copper, which were off 1 to, 14% points. The cloning was irregu’ar. Amer- fean Can crossed 138 to a new high in the final hour but the rest of the lst was inclined to run off realizing with several rails displaying marked heaviness. POTATOES CHICAGO, Aug. | 20.—Potatoes slightly weaker; receipte 35 cars; to- tal United "States shipments 645 Kansas sacked Irish Cobblers $1.2 @1. Missourl sacked Irish Cob- blers low at $1.00; Minnesota sacked early Ohion $1.15@1.25; Nebraska gacked Irish: Cobblers and enrly Ohios fow sales $1.50; New Jersey sacked Irish Cobblers $1.80; Virginia Barrel Cobblers $2.65@2.75; sacked $1.65@1.75. Foreign Exchange 20.—Foreign in NEW \YORK, Aug. changes, } quotations ts: Great Britain, demand, 448 cables, 448%; 60-day bills on ban 445%; France, demand, 5.39; cables 5.40; Italy, demand, 4.41; Belgium, demand, 4.97; cables, 4.08; Germany, demand (per trillion) ti Holland, 3874; Norway, 13.84; den, 26.54; Denmark, 16.13; Switzerland, 18.80; Spain, 13.34; Greece, 1.84; Poland, 19%; Czecho Slovakia, 209; Jugo Slavia, 1.24%; Austria, 00144 Rumania, 46; Ar- gentina, 33.75; Brazil, 10.00; Tokio, 41%; Montreal, 99 29. METALS NEW YORK, Aug. 20.—Copper $5.75 to $6.00; feeders, dull, weak; early sales range feeding. lambs, $12.00 to $12.40. ‘ Denver Prices 2 DENVER, Colo, Aug. 20.—(WU. 8. Department of Agriculture)}—Hog; Receipts 600; generally stead: choice drive ins around $9.75; desir- able 190 to 220 pound averages mostly $9.60; fow $9 packing sows mostly $7.50; fat pixs $7.50 to $7.76. Cattle—Receipts. 650; calves 60; she stock steady to straQng; Wyom- ing calves 625; others 4.50 and down; heifers $5.00; other classes steady; heavy bologna bulls $3.50; Practically no godd calves offered; few grain and cake fed steers $7.25 to $7.75; best yearlings unsold carty; Plainer grades $4.50 to $6 Sheep—Receip' 06; most of run used and foeder lambs; no early sales; choice load 71 pound Utah fed lambs 12. around steady pote shit Bomex en Flour MINNEAPOLIS, Aug. 20.—Flour unchanged to 20c lower. Family patents $7.600$ . Bran $26.00. cant change. Wheat— Open High Low Sept. ...- 1.27% 1.28% 1.27 Dec, --2= 1.32%, 1.38% 1.91% 1.32% May .... 1.39 "1.39% 1.38 1.88% Corn— Sept, a+ 121 1.22% 120 1.20% Dec, --2= 1.16% 1.17% 1.16 . 1.15% May ---- 1.18% 1.19% 1.16% 1.17% Oute— Sept. ---. 54% 55 53% 53H Doc. ---- .B7% 57% 665.57 May -..- .61 61% 60% .60% Lara— Sept. « 13,95 13.80 13.90 Oct. 13.07 13.47 13.95 MOVs} Lda Sho aden 2 Sonus ASR Ribs— Sept. ---.12,15 12.15 12.10 12.10 Oct. -210019.23 12.22 12.17 12.20 Bellies— 13.35 13.30 13.30 Oct. 13.50 1347 13.47 CHICAG, Aug. 20.—Wheat num- -32% @$1.38; number 2 29, Corn number 2 mixed $1, number 2 yellow $1.22%@ $1 Oats number 7 white 55@55%c; numer 3 white 534 @55c. Rye, number 1, 93%; 3@89. Timothy seed $7.00 clover seed $1 $14.00; ribs $12. eh Flax. DULUTH, Minn., Aug. 20.—Close f 2. October, Decem- $2.31. nominally. SILVER NEW YORK, Aug. 20. 68%; Mexican dollars 52 asi NEW YORK, Aug. 20.—While new business in refined sugar as light, numerous withdrawals were made on old contrac Prices were unchanged at $6.75 to $6.90. for fine granulated. Refined futures were Sugar futures closed steady; ap proximate sales, 46,000 tons. Sep tember, $3.69; December, $3.76; Jan- Uary, $3.50; March, $3.35, nominal, Naples Riots To Be Probed NAPLES, Italy, Aug. 20.—The sy; electrolytic spot and futures 18% @13%. Tin steady; spot and futures 52.62. Iron steady; number 1 Northern $20.50%4$21 number 2 northern $20.00@$20.50; number 2 southern $18.00@ $18.50. Lead Steady; spot $8.00@$8.25. Zinc firm; Hast St. Louls spot $6.25; futures $6.25 @$6.27, Antimony spot $9.75. - MONEY NEW YORK, Aug. 20.—Call money, steady; high, 2; low; riling rate, 2; closing bid, 2; offered at 2%; Jaet Ioan, 2; call loans against ac- ceptances, 114; timo loans, y; mixed collateral, 60:90 days, 2%; 46 months, 3@4%; prime com- mercial paper, 83%. a COTTON NEW YORK, Aug, 29.—Cotton, spot, quiet; middling, $28.20, e . government has ordered a rigorous inquiry into the disturbances here Sunday, when the attempt of the Police to prevent a meeting of loyal opposition adherents resulted in the killing of two persons and the {n+ juring of sixteen others. The arrest has been ordered, it is understood of fifty » Fascist police- men chatged with being implicated in the responsibility for the disord- ers. Establishment Is Raided Third Time Gus Lutas' place at 241 West First street was ratded for the third time within @ week last night by the police. found. J. ©. Mupper was arrested Operating uw wlot ein his tablishment at 1 ot Be atreet, One case of beer was Lutus Is ont on $200 bond for Pen A ttt cat ET cL Eh al RE I i SE a ol eed or Sa = Casper National Bank Reports Wool Situation Casper National bank re- Ports its Boston correspondent de- scribes the pany Ught weight opened August 19 sea jon to with prices American Woolen com- have on worsted warp and woo! filling goods not months ago. lower than at the sale of six The prices on staple wool Worsteds opened slightly low- er, The opening appears a bid for quantity business at to be a small margin and is favorably con- sidered by the trade. Many orders Were placed prior to the opening and in anticipation of Production the ntills have heavily. a large volume bought As the mills are ‘stated to own about fifty per cent of the present clip it is hard to judge what effect this opening will have on raw Wool prices, The American woolen company in a statement issued before tho opening stated that demands in some lines indicate later sharp ad- vances and a tax on manufacturing facilities. They consider that the men's wear market is now in sound condition and the maintenance of {that soundness by no speculation and no overbuying is desirable for all interest. The history of the wool trade has always shown vio lent reactions from depression and low prices. In this 1924 reaction from the depression and low prices there should be a steady market and 4 steady inflow of business it there fs no overbuying or over stocking. | BUSINESS BRIEFS Pan-American Rumors NEW YORK, Aug. 20.—Wall Street is filled with rumors concern- ing the and Transport Pan-American company Edward L. Doheny is the head. of Petroleum which Re- ports that Mr. Doheny was to retire and was that control to pass to of the the Standard Ol cor npany company of Califortia were denied by Mr. Doheny. The latest report is that Royal Dutch Interests are seek- ing to obtain a large interest in Pan- Américan, Cosden, Philips Petroleum and Sinclair, Recent activity of the Pan-American stocks and tho pres: ence in Los Angeles of Elisha Wal- ker, a director of the company and @ partner in the firm of Blair and company, its bankers, {s widely con: strued as an indication that tmport- ant developments are pending, but to date Wall Street has been kept in the dark concerving them. Group movements have been one of the Interesting stock market features of sessions, Speculative interest has shifted from one @ another and frequently groups would be have there been but opposing recent group some advancing while others were reacting, rarely move: ments on important stocks within the same group. A notable excep: tion, however, is the Pan-American issues, which have strength while other oils were but this is probably due to rumors of important ing the Doheny interests, displayed VY developments affect- Copper and shippings have been the first to discount the expects benefit .from the adoption of the Dawes plan, Mail order and farm Mount Shasta’s Ashen Crust Is Filling Stream REDDIN Shasta, and a top the center treme nia after a formation the base streams, er system, larg and of .the colored ‘the ding, is that the mountain, the mountat LONDON, Aug. Semiryechensk, has caused the d in three 8,000 people ho Patch to the Eev stroyed. New fire in her hold but an inv: NEW bonds cl YORK, coated with snow villages Aug. in t of C are dropped mountain clogged the McCloud of dow extremely the 41 PERISH IN EARTHQUAKE 20,—An and ning News LIBERTY BONDS 20.—1. $102.16; $101.17; fourth 4%", $. States government a eg For results try a Tribune wified Ad of at ) Says a 3, Cal., Aug. 20,—Mount voleanio ash dressing of snow was of attention northern section he ex Dalifor ash from into wat The latest theory advanced for the unusual disturbance waters mento river as far which has dis- Sacra as Red low water marks in tho gtreanis tribu- tary to the Sacramento this year undermined the, formation base of Mount Shasta and cauned the ashen crust to break from the the The mud flow carried away the main pipe Jine supply water to McCloud, which te four miles south of the “point where the ashes left earth. quake near Osh, in the province of Russian dis. from Allahabad, India, quoting advices to the newspaper Pioneer. More than 4,000 houses were de- Steamship Has Fire in Hold BALBOA, Canal Zone, Aug. 20.— The steamship Mexican, of the American-Hawalian ine, bound from Ban Francisco for Boston and York, haa arrived here with Work of unloading the cargo from the fire area began ‘tigation indicated that the vessel wos in no danger. ——— Aberty 1: 344m, $100.30; first 444 third 102.20; 44s, Cas implement stocks have advanced tn reflection of higher grain prices, which mean increased purcRusing power for tho farmer. Textiles, leathers and rubbers have responded to higher commodity prices. Public utility stocks have been strong on reports of increased e@rnings and superpower development plans, FORT WORTH, Aug. 20.—Fifteen hundred persons have inspected the large area of state land which will #0 on sale September 15 in the up- per panhandle of Texas. ‘This prop- erty, much of which will be turned into small farms, was « part of the ranches recovered by tho state from the syndicate which built the state capitol at Austin. The land will be sold to the highest bidders and its development is expected to do much for that section. Two north Texas refiners have ad- vanced prices of gasoline at tanks half a cent a gallon and It is report- ed difficult to secure gasoline at figures still quoted by others. PHILADELPHIA, Aug. 20.— Many engineers, draughtemen ana other skilled workers have left the public works department of the city for better paid jobs on thé propos- ed Broad street subway. Con- tracts for the first section of the » costing $14,215,000 have been awarded to the Keystone State Con. struction company, ATLANTA, Aug. 29.—Taxablo property in this country has in- creased by more than $31,000,000 this year, according to reports of as- sessors. The total amount assessed ia $235,057,180, KO.MCOY Ig HELD BY JURY (Continued from Ro: Page One) and William G, ; a Customer who tried to eseape from the Mors shop while McCoy was in it, LOS ANGE if, | When Kia McCoy Dugilist,” was | arraigned in superior court here to- | day and the indictment was read to rging him with the murder of Theresa W. Mors, his eyes flash- ed and he cried: “I did not." His formal plea, at his attorney's re- quest, was postponed until next Monday. Garbed In prison blue, his face Mned and haggard, the former Beau Brumme! of the prize ring and holder of the reputation of being the triokiest fighter of his day, faced Superlor Judge Charle 8. Craig with his hands folded in front of him, his feet spread apart und his eyes downcast, The charges of robbery and as- Sault with attempt to commit mur- der, outgrowth of his shooting orgy last Wednesday, left him unmoved, but the accusation that he had mur- dered the woman with whom he liad been living, the fighting McCoy of old came back arntl® swung tense and hid rs straightened \as he shout- “I did not.” One of his attorneys stepped to 8 side to calm him and then ined from the court permission y formal pleading until next Monday. Reduction in Child Accident Fatalities Seen CHICAGO, Aug. 20,—Seven alties which have reported complete fig: ures on child accident fatalities to the National Safety council show a reduction of 19 per cent in such fa- talities for the first six months of 1924 as compared with the same pe- riod in 1923. The reduction means that despite increases in automobile registrations and the complexities of traffic, there were 76 fewer children killed in accidents in these cities than in the first half of 1928. The council attributes the reduction to safety teaching in public and par. ochial schools and to organized com. munit safety work which these clties have been conducting The citles are Syracuse, New York, St. Par Minnesota, New York Ct Baltim Springtield, Mass.; Port: land, Ore.; and Buffalo. The total number of deaths of ehit- dren in these cities for the first half of 1924 was 338 gnd 419 for the jaame period in 1923,