Casper Daily Tribune Newspaper, August 26, 1924, Page 7

TUESDAY, AUGUST 26, 1924 Oil : ~ Productio Finance n of Electrical Apparatus on Increase By J. C. BOYLE (Copyright, 1924, Casper Tribune) NEW YORK, Aug. 26.—Transfor- matjen of ordinary power plants in- to guperpewer stations has stimu- lated the production of electrical apparatus all over the United States. New projects have also accounted for @ large amount of business but the steady production of many of the larger electrical facto has been based on the replacement of existing machi: the last month. The average business of the Westinghouse Electric and Manufac- turing company showed a 10 per cent in, over rh in the early menths of this year. Then came a downward trend, due to slackness of building and other factors which olgsivnet wnt July. iness hag risen steadily and is ex- pected to reach its peak in the early aytumn. The larger part of the recent’ tn- crgase has been in lines connected with generation of electric currnt and its distribution. This tmoludces unusual demand for. switchboards, clnqut breakers and other switching ITTSBURGH—A general increase infeetoe haa taken place in the steel. mills in this sectien. Some of the furmaces aro running 100 per cemt of capacity, as compared with 65 to 7 per cent a week ago. The heawtest. demand is for bara and pipe, while call for wire products and auto sheets ty low. SHARON, Pa,—Steel manufactur completed in the Kansas oil fields in the last week adding 3,416 bar- vels to initial production. Ejght of the new operations turned out pro- ducers and six were just holes. Potatoes _ ATLANTA.—Georgia ‘yams just now are the most profitable crop of the state, the first shipments hav- ing sold as high as $3.50 a bushel, Chicago. The yield is not so large us in 1923, as acreage was curtailed. Hats ” BRIDGEPORT, Conn—The Bridge- port Business Men's Association has started a campaign in ald of the retailer to check the sale of hats direct from factories to consumers. Everyman’s By GEORGE T. HUGHES (Copyright 1924, by Con. Press Assn.) Speculation in Foreign Exchange. In the last article in this series I named some of the considerations affecting the investment rating of foreign bonds. There are still things to be said along this line. The first is that to buy a foreign bond payable in a foreign currency involves an ad- ditional uncertainty in that the cur- rencies of other nations ever since the world war have lacked stabitity as compared with the dollar. To a degree a foreign government bond payable in any other money than our own js a speculation in foreign exchange. For most people this is inadvigable. There are plenty of forelgn issues payable in dollars and traded in daily on the New York Stock Ex: . change to which this speculative fea- ture does not attach. As a rule also the dollar bonds of foreign countries do not fluctuate over 80 wide a range as do sterling or franc bonds. It is very important to keep this distinc. tion jin mind when estimating the risk involved in a. foreign secufity. Taking the case of Germany for Anstance there is no possible compart. son between the mark bonds of Ger- man municipalities and the proposed international German loan, the American portion of which will be Payable in dollars. The two belong to entirely different classifications. Tt is perfectly possible for a for eign government bond payable princi: pal and interest in American cur- rency to be entirely sound and a desirable investment and a bond of the same government payable in its own currency to be speculative in the extreme, Secondly thers is the matter of diversification, No matter how at- tractive a foréign security may be no one {6 justified in putting all his funds into any one investment, He should not even put all capital pray sugarus auwever, the volume of bus- ! equipment, ightning arresters, reg: ulaters and other highpower distrib- uting devices. This demand has stood up well, in spite of the slump in many connected industries and men prominent in the trade do not expect any decline in the next few months. Large additions haye been made to generating capacity in plants in all sections of the country and con- twacts have been signed which will previde for even greater changes re: quiring installation of switehing equipment even in old stations to economize. space, prevent interrup- tion of service and assure safety, Buying of porcelain distributors and transformers at their fuses and other features has shown a gradual but well marked in- crease. Demand has also been ap- parent as @ result of new building. Thousands of new meters have ‘been ordered for domestic use and sales of this line will undoubtedly exceed those of any previous year. The industrial consumer, however, is still the largest purehaser of elec- trical supply apparatus ard fs ex- pected to centinue sq for the re. mainder of the year ‘Trade N ews| “ Wheat DETROIT.—The state agricultur- @l experts who have just completed a survey of farms, declare there will be am increase of 9 per cent tn wheat acreage $bis fall and a d of ® per cent in the land planted to rye. ‘ LINCOLN.-Nebraska farmers ex- pect to dncrease their. wheat acre. age by about 4 per cent this coming fan. Corn HOUSTON.~-The scarcity of corn necessi- tate the importation of at least 1,000 loads from other states, accord. ing to the state market and ware- Present condi: car house department. tons indicate a Texas erop of 19 million bushels or 17 million bushels this year in Texas will under that of last year. Fruit DENVER.—Conditions of the Col- erado apple crep indicates an in. crease of 2 per cent over the 1 compared 2,020,000 bushels last yearn SPRINGFIELD, Il.—The latest will be shipped from the Ozark or- chards in tho next fow weeks. The grape crop estimated at 400 cars be- gan moving today, Sugar NEW ORLEANS,—The sugar crop. in Louisiana, has not improved, ow- ing to unfavorable weather. Refin- ers report an unusually good de- mand and. have advanced prices to 6.90 cents a pound. None of the re: finers have reserve stocks. They are booked 30 days ahead and taking business subject to delay. Lumber ST. PAUL.—Lumber experts re. port a stronger market and forecast 4 substantially increased demand from the farming districts, according to Vice President J. C. Woodworth, of the Northern Pacific, who has just completed a swing through the north western districts. American American American American American American Atlantic Coast Line Baldwin Locomotive -.. Baltimore and Ohio insulators, |" Chesapeake and Ohio fi ibs Chicago and Northwestern _ Chicago, Mil & St. Paul, pt Chicago, R. ¥. and Pac. Colorado Fyel an@ Iron Congoleum Consolidated Gas Corn Products new - Cowden O11 -_- Crucible Steel Cuba Gane Sugap pfd. Davison Chemical _.. Du Pont de Nemours -.-.--- General Asphalt - General Electric --.--------- General Motcrs = . Great Northern, pfd. euba’ Gu't States Steel -...--.,---- Houston Oi Hlinols Central - International Harvester int. Mer, Marine pfd, Int. Tel. and Tel. Invinelbe O11 == Kelly Springfield Tire. -. Kennecott Capper Louisville and Nashville Maxwell Motors A -.----. Middle States Oil .-..-2-. Missouri Kan, and Tex. ----- Missouri Pacific pfd, -----. National Lead ~---+2::-rex--- New Orleans, Tex and Mex. ~~ New York Central ..---2---- N.Y. No Hy and Hartford -~ Norfolk and Western .------ Northern Paglfic -.---- Pacific Obl: -msessesreesseer= Pan American Petroleum B -- Pennaytyania ~ Porducers and Pure Oil. -.—~ Readh oes Repubtie Iren and Steel --.- Reynelds Tobaceo B -------- ond Slose-Sheffield “Steel and Tron “| Southern Pacitic --..-.. Southern Railway -..---- Southern Railway, pfd, -. Standard Oi) of Cal, '>,---25 Standard’ Oil of N. J, --. Studebaker Corporation Texas Co, -~----, Texas and Puacitl Tebacco Preducts Transcontinental Ol! .,-ee.-= Union Pacigc ,..-.- ~ 143% United Drug -sencrer-ne-eeee 84K B U. S. Cast Iron Pipe 106% U, &. Ind, Aleohol 12% United States Steel , 108% Utah Copper n«wesseer Westinghouse Electric -.. Willys Overtand Woolworth Anglo 4% 15% Buckeye 60 60% Investment | erly available for foreign investment into ary one nation's obligations. By dividing up the sum the risk is spread out. It is wise to diversify not only as between the different na- tions of Europe but as between Bur. opean and South American invest- ments. Political developments are not likely simultaneously, to affect securities so widely separated geo- graphically. Within these limitations there can be no objection to putting @ proportion of ones funds into good forelgn securities and such a course will substantially increase the in- come upon the whole. Steers Shipped By Brooks. Sell $7.10 Top Omaha Mart Cattlemen will be interested In the je of a shipment of cattle by B, B, Brooks company on the Omaha mar- ket, news of which was recefved late yesterday. Thirty-two steers sold at $7.10, 26 at $6.75 and 16 at $6.50, These averaged 1,114 pounds. Fifty: elght cows, weight 1,073, brought $4.00. Stlas Brooks accompanied the ship: emnt to Omaha, being one of the first to leave this district in the fall shipping season. A aaa ee a WYOMING OILS NEW YORK, Aug. 26.—Prices of Wyoming olls at 2 p. m. today were listed on the New York curb as fol- lows: Standard Ol) of Indiana, Mountain Producers, 18¢: 11; Salt Creek 23%. Vestal cac es Nadi Ae Cal! the Tribune for highway in. formation. 56%e; Mutual, Ohio Oil Prairie Oil Prairie Pipe Solar Ref. 8, O. Ind. ..-... Oat )- CrOGiy -cesenestosnennnqeens$1.4§ Lance Creek Osage ~-------------en----ne-- Grass Creek, light ~---p------- Grass Creek, heavy ~.....--.. GreybU) | ~-~-nereesenenrere--we TOrchUght ---.---ews-were-- are sree ereenenen--= 1.40 Salt Creek ~~-----~+-00-------- Big Muddy Mule Creek BSUNDUFRE ~~~ -nnenewelanwnnene=, Hamilton Dome Ferris ewenensee 1,80 Pilot Butte. ----cs-secenazeaee 1.19 Lander Butter and Eggs CHICAGO, Aug. 26.--Butter high. er; creamery extras 36% @36%c; standards 36%c; extra firsts 35:9@ 36e; firsts 34@34'%4e! seconds /32@ 88%g0. # BHees—Unchanged; receipts 17,79: cases. \ 4, Maring S| Mike 4 Mountain & Che Casper Daily Cribune Stocks| ¢ Witeen Creamer & Co. Bessemer ---~. Big Indian Boston Wyoming --- Buck Creek ,--..--- Burke > -- Black Stone Salt Crk. Chapre!l Columbine — COntral. (spe —-----=- Consolidated Royalty- Cow Gulon ---- =.= Bouse Eushoro £. T. Pergo Williams APYORNG. -secesseesbecs Gates - JUDIOP pnw er sense ee Kinney Coastal —-... Lance Creek Royalty nd Gulf ---. 1.35 Grain AND QUOTATIONS BY LEASED | STOCK TREND SIRREGULA Famous Players Hammered On Exchange; Some Issues Strong NEW YORK, Aug. 26, - Stock prices moved up briskly in today's arly trading but the failure ef op: erators on the long side to follow up the advance led to renewed sell; ing on the pagt of the bear traders, Several weak spots were uncovered among the specialties. ‘Trading was restricted owing to the absence of a number of lage operators, the day’s sales approximating only 650,000 shares. NEW YORK Aug. 26,—Stock prices displayed firmer tone at the ‘| opening of today's market, reflecting Red Royalty & Producers — Sunset ._ Tom Bell. Roy: Western Exploration — Weatern Oi) Bi Western States WY0-K229 nroeennncnn i a, —- - NEW YORK CURB Mountain Producers Gelnrock Oj ---.. Salt Creek Prods. — Salt Creek Cons 8. O. Indiana ~~~. New York ofl Ohle Ol... Prairie Oil Mutual ._ 8. O. Indiana 47.50 . 48.00 Oy 10 03% 3.40 15% 05 “lt 04 3.00 16% 1b Chicago Prices, CHICAGO, Aug. 26.+(U, 8. De- partment of Agriculture.)—Hogs— Reeeipts, 23,000; mastly steady to strong at Monday's. ayerage; light lights, dull; slaughter pigs, weak to 26¢ lower; -big packers doing” little; top, $10.00> desiratie 160 to 326 pound averages, $9.60@9,90; “better 140 to 150 pound welghts, $8.90@ 9.40; packing sows, $8.30@8.70; good, and choice. strong weight killing pigs, $8,25@8.50; heavyweights, $9.45 @4,90;, medium weights, $9.60@ 10.00; Ughtweights, $8.85@10,00; ight Ughts, $8.00@9.80; packing hogs, smooth, $8.40@9.80; packing hogs, rough, 0@S8.40;° slaughter piss, $7.25@8,50; -bulk of sales, -$8.90@ 9.80; top, .$10:00. : « -Gattle--Receipts, 11,000; fed steers and. yearlings, trade practically ‘at standstill; unevenly. lower; killers showing IMberal interest; even,on de- sirable Hghtwelght offerings; fresh receipts depressed by exceedingly heavy holdover from Monday; load handy weight choice fed steers, $10.75; few sales at $8.75@10;25; looking sharply. lowor-than close he stock comparatively scarce; outsiders showing some. ac- best heavies, $4.75; vealers ly $18.00018.50 to packers; out: hand picking upward to $14,00} country "demand stockers and feeders very narrow; few common westerns scaling 800 to 1,000 pounds to feeder buyers, $4.50@5.50; well bred 1,130.pound western steers on country account’ Jate yesterday, $7.40. Sheep—Recelpts, 22,000; slow; few early fat lambs, weak°to 25c lower; sorting moderate; fat natives, $13.00 @13.25 early; Idaho’ lambs, $13.25 @43.50; ‘some. held higher; - sheep, yd; odd lots fat ewes, $4.50 ding lambs, . unchanged; early sales choice feeders, $14.15; full mouthed range breeding ewes, $7.00. Omaha Quotations. OMAHA, Neb. ‘Aug. 26—{U.” 8. Depariment -of Agriculture.}—Hogs Receipt 10,000; fairly active; steady to 100 higher? bulk 210 to 300 pound butchers 89.15@9.40; top $9.45; de sirable 160 to 210 pound weight $8.85 @9.15; ‘packing \ sows © $8.25@3.50; smooth grades up to $8.70; bulk of sales $8.35@9.40; avernge cost Mon- day $8.69; weight 266. Cattle—Receipts 10,500; best steers and yearlings uneven; moderately active on best yearlings, and medium weight steers about steady; weighty steers and plainer grade slow, weak; biddings 15¢ to 250 lower; early sales mostly $8.50@10.25; top $10.65 for.1,100 pound averages; she stock draggy; grass heifers about steady; cows 10c to 25¢ lower vealers steady; bulls steady to weak; stockers and foeders weak. to 15c lower; bulk grass cows: $2.75@4.25; " heiters $4.50 @5.25; bolognas $3.25@8.75) practi- cal veal top $9.60; bulk stockers and feeders $5.50@7.25; few fleshy offer- ings up to $7.65. Sheep—Receipts °22,000; lambs 150 to 25c lower; bulk fat range lambs $12.75@13.00; “top . $13.25; natives $12,50@12.75; fed clipped lambs $12; sheep steady; bulk desirable weight fat ewes $5,25@5.50;. feeders. strong 10c to 1$¢ higher; éarly sales choice range feeding lambs $12.60; best priced at $12.75: feeding ewes $4.50 @5,26; early Bales fujl mouth breed- Ing ewes upwards to $6.50. , Denver Prices Denver, Colo:, Aug, 26.—(U, S. De. partment “of Agriculture.)—Hogs — Receipts 2,900; early sales steady to strong; top $9:75 paid’for three loads choice 200 pound averages; other good to choice 190 to pounds mostly $9.45 to 9.65; few $9.25 to 9.40 few 120 to 145 pound averages $7.75; packing sows ‘mostly $7.50. Cattle—Recetpts’ 900; calves 100; better grades grass she stock fnfr- ly active; other killing classes” and gradés slow: grass heifers $5.25; grass cows $3.50@4.70; few heifers $5.00@5.25; bologna bulls steady at $3.00; few ‘vealn’$7.00@8.00; several lote stockers and feeders $4.75@6.50; the better feeling engendered by the buying back of stocks which were heavily soll on yesterday's decline, yiekel Plate advanced a point and was fractionally higher follow: ing © ratification of the Van Swer- ingen merger plan by directorates of these roads. A few points of depres- sion included Congeleum and Nation- al. Enameling, Running of short interests, which apparently had pushed thelr opera: tens too far, accounted fer most of the early strength. The advance was aceelerated through purchases for the long account by interests who had been awaiting a slaable reag: Hen to accumulate stocks. Gaing ranging from one ta two points were resistered by popular industrials, in- eluding United States Cast Iron Pipe, Crucible Steel, Allied Chemical, Colo- rado Fuel and Iven; General Elec. tric, Houston Oil, National Lead, Hestman Kodak and International Telephone, Railroad shares stiffened moderately, Lackawanna won ing 2% peints, Pittsburgh and West Vir sinla.and Southern Railway a point each. Congoleum sold off two points on the announcement of a new stock offering. Foreign exchanges opened steady, The main price trend wag unmis- takably upward, although Isolated weak spots cropped out in various sections of the list. National Enam- cling broke 3% to 9%, a new low for the year and Wilson preferred, Maracalbo Oil, Fiske Rubber first preferred and Amerlean ‘Tobacco B Sagged 1 to 2% points, Much of the buying power come from the shorts, who had been selling stocks freely for the last week, but trading was only moderate jn volume. The re- covery In grain priees undoubtedly alded the mail order gnd chain store stocks while the public Utilities re, sponded to steadily expanding earn- ings reports, points, National Lead four, Lacka- Wanna rallroad 8% and Allls-Chalm- ers, General Electric, U, 8. Cast Tron Pipe, Calumet and Arizona ang Virginia railway and power sold about. 3 points higher, Call money renewed at 2 per cent. Sympathetle resources occurred in the popylar shares when Famous Players was hammered dowm four in the afternoon and two. Weakness also cropped out in St. Paul preferred, New Haven, Pere Marquette, Bosch and Pierce. Arrow preferred. Minor specialties, however, continued to work higher, notably Fileschmann, International Cement, American Tobacco and Tide- water Oil, which rose 1% to 3 points. The closing was irregular. Offer. ings of professional traders increased in the final hour, Chandler Motors being hammered down 3% points to 41, a new low for the year, on un; favorable dividend rumors, and Kres- ge Department Stores, International Paper, Cuyamel Fruit and Davison Chemical. selling 3 or more points below yesterday’s final figures. ——— Foreign Exchange NEW YORK, Aug. 26.—Foreign excha quiet. Quotations in Great Britain, demand 448%; cables 448%; 6Q-day bills on banks 445%. France, demand 51%; cables 54%. Italy, demand 4.42%; cables 4.43, Belgium, a 4.99%; cables 6.00, - mand per trillion 23%. Holland, de mand 38.71; Norway, demand 31.38. Denmark, demand 16.14; Switzer. Jand, demand 18.73; Spain, demand 12.89; Greece, demand 1.83; Poland, demand, ,001414; Rumania, demand 47%; Argentina, demand 39.87; Bra- zil, demand 10.12; Tokto, demand 4114; Montreal 99 31-32. POTATOES CHICAGO, Aug. 26.—Potatoes rather weak; receipts 77 cars; total U. S. shipments 389; Kansas sacked Irish Cobblers, $1.00@1.15; few ex. tras, fancy $1.25@1.86; Missouri jacked Irish, Cobblers 90¢@1.10; Ne- braska sacked Irish Cobblers and early Ohios $1.10@1.25; New Jersey sacked Irish Cobblers $1.70;; Virginia barrel Cobblers $2.75@2.90; Minne. Sota sacked early Ohlos §1,00@1.15, —— NEW YORK, A spot quiet; middling $6. Flax DULUTH, Aug. 26.—Closé: Fiax September $2.3745; October $2.22%; November $2.23; December $2.19% May $2.25. a Flour MINNEAPOLIS, Aug. 20.—Flour 1c to 15c lower; family patents -7.35 @7.40. Bran §26.00, SU rs best held higher; choice fedder steers unsold early. Sheep—Receipts 6,900; bulk of run tat lambs, no early sales reported, talking 2c ‘lower; few feeder lambs unsold, talking steady. ‘Kresge advanced five] 1, Chalmers lost | 9 PAGE SEVEN. Livestock :: All Markets WHEAT PRICES GIVEN SETBICK New Low Mark On Late Downturn Reached In Chicago Trading CHICAGO, Aug. 26,-—Mora favor- able crop reports from the Canadian northwest, the easier tone in Winn Pog and a break in Liverpool, gave the wheat market here an easy un- gertone during the early dealings. Reports from Winnipeg estimated the wheat yleld in the three prov- inces would be about 120,000,000 bushels in excess of the gover ment’'s August returns, Some sell- ing of wheat here was in evidence, a number of port: ness was not as brisk as during the past few days. The market recelyed fair suppert when the December de- livery touched around 128, Opening Prices, which ranged from changed figures to %ec off, September 1.23% to 1.24 and Pe: cember 1.98% to 1,38 7-5, were fol: lowed by @ slight upturn and the a drop to well below the previous close. Liquidation followed @ moderate rally shortly after midday and all deliveries declined to a new low on the present down turn, the elose he ne weal at @ net loss of 8 te 4140, with September $1.20% ta §$1.290% and December $1.2) to $1,254. Generally favorable weather for the new crop weakened the deferred deliveries of corn, but the September delivery was slightly above yester- day's fintsh. After starting %e lyw- cr to le higher, December 1.05% to 1.05%, the market underwent a slight general rise, which was fal- lowed by a setback in the deferred deliveries. Later aggregate buying set in, following reports that corn tw being injured by the hot dry weather, and the market rallfed, with the firm at & gain Of 1% to 2 « December $1.07% to $1.07%. Oatn started at Ye decline to a lke advange, December 50 7-8 to Ble, and held near to the initial range. Higher quotations on hogs gave a lift to provisior Open High Low Chose WHEAT 1.24 Sept, ---. Dec. 128% May , ~----1,9416 1.84% CcORN— Sent, aeeenl 13% 1-15 Dec. ~~ BY 1.08% 100% 49 56 1.20 1.90% 1.24% 1.26 Lamy 1.90% 1.21% 1.19% 104% 2. 196% 1, “47 4% 13,32 18-27 13.15 18.22 14.65 11.80 No. 2 hard, 91.23% @1.25. Corn--No, 4 mixed $1.23% No, 3 yellow $1,17@1.18%, Oate—No. 8 white 48% @49 cents, Rye-—-No. 1 86% cents. Barley—-75@86 cents. Timethy seed— $5,.50@7.25, Clover seed—$11.50@21.50, Lard—$13.30. Ribs—$12.12, Bellies—$1.35, pect acl SS NEW TORK, Aug, 2 Call money steady; high 2; low 2; ruling rate 2; closing bid 2; aingt acceptances 1%. Time loans firm; mixed collat. eral 60-90 days 214@3; 4-6 months 3 @3%. Prime commercial paper 24 @3%. METALS NEW YORK, Aug. 26.—Copper easy; electrolytic spot and nearb; 1844; futures 1314@13%c. Tin eas: spot and futures $51.25. Iron steady Lead stead: us spot $6. 2; futures $6.22 @6.25. Antimony spot $10.26, princi ed i he SILVER NEW YORK, Au 26.—Bar silver 68%c; Mexican do 52%. LIBERTY BONDS NEW YORK, Aug. bonda clesed: 26.—Liberty S¥s, $100.23; first 4s, $101.26; first 4%, $101.25; second 44s, $100.28; third 4% $101.25; fourth 4%s, $100.26; U. 8. govern- ment 4 $104.; > CAR OVERTURNED ON HIGHWAY UNDAMAGED CHEYENNE, Wyo., Aug. 26.The old “gag” anont “The Iittle old fiiver rambied right along,” was suggested to motorists who witnéssed an au- tomobile accident on the Lincdln highway 11 miles west of Cheyenne, when @ coupe driven by William Howard of Cheyenne skidded in gravel, wént into the batrow pit and overturned. Howard and a compan- ion, who Were uninjured, ecémmian deered the assistance of several other motorists, s¢t the car back on its wheels and it proceeded on its way, apparently none the worse for its experience, [BUSINESS BRIEFS ~ Bank Conditions Improve. CHEYENNE, Wyo. Aug. 26. Wyoming has “turned the corner’ in the banking crisis, according to information received at headquar. ters here of the Wyoming Banker association, and new banks now are opening in the state, Two. began business Monday morning. They are the First Btate bank of Douglas, capital stock $60,000, and the First State bank of Newcastle, capital stock $15,000. The new Dofiglas bank has taken over the deposit ac- counts of the Cemmereial Bank and Trust company and the First Nat- Jona} bank of Douglas, institutions which merged shortly before the fail ure of the former a few months ago. The Newvastle State is an entirely new enterprise. Wall-Street Briefs Railroad reports for July continu td show smaller earnings by ma carriers in comparison with 1923. The New York Central’: Operating income fell to $5,143,987 ined Gross reyenue of Henry Vord's railroad, the Detroit, Toledo and Ironton, increased more than $1,000, 009 In the first six months of 1924, Mio. VAN DYKE lo ELECTED (Continued from Page One.) Rawlips alternate to this position. The convention: adjourned for a few moments, after which it was to re-convene for the purpose of elect. ing minor officers. Mrs, B, B. Brooks will entertain the delegates at a tea this after. noon at her new home on South compared with the same period: o: 1923, reaching $6,031,614. Net ni ome totalled $1,510,227, a gain,o! per cent the road which wa: bought for $5,000,000 a few years ago| andied its largest volume of traftid rst four months of the Sigur} this, transportation costs 1 to $1,712,281 compared the first half o CHICAGO, Aug. 25.—Pyblle work Amounting to more than $25,900,004 will be under way here by the end of next month. Widening and doybl decking of South Water street at « gost of $22,000,000 is to be tom meneed, together with widening o' Ashland ayenue at a cost of $1,509 000 and the building of the Bfoud way Clifton sewer system at a Cos of $2,500,000. DETROIT, Aug. 26. — Industria nent in loeal factories fe! f in the Jast week to 194 This compared with 219,570 a ago. ST. LOUIS, Mo, Aug. 26.—Thq Missouri read commission has ap proved contracts invclying the ex penditure of over $2,000,000 durin, the/remainder of the year. ———— LATE FLASHES BOSTON, Aug. 26.—The probabld itinerary of the army filers as give out today by Captain Louis Knight of the army air service dif fors from that announced jn Wash: ington. He said the fliers might in Boston two days after they leav Ivigtut, but he thought they woul decide to take four days, Untl word came from Washington today, Captain Knight expected the flight] Wolcott street. A musical program was ‘held by the delegates this. morning in the Natuye of a five-minute memorial serviee for departed members. Mrs, Smith sang two soles. “In Plande: Wield,” and “Laddle in Khal Bhe was accompanied by Mrs, Homer Helms. Reports of various committee: were received and the annual reports of the unit presidents were ako given. PROJEGT HERE IS ENDORSED (Continued from Page One.) der who left for Walla Walla, Wash., this afternoon, The Legion wns to elect officers late this afternoon. Featured by several brilliant ad: dresses, reports of officers and stand. ing committees, this morning's ses. sion of the state convention of the American Legion completed the rou- two day session, With two addresses scheduled for this afternoon, the delegates are expected to begin voting on next year's offi. cers about 3.30 o'clock. El¢otion of officers, adgption of resolutions and the selection of a meeting vlace for next year will conclude the business of the conven- tion wh the joint banquet tonight for Legionnaires and Auxiliary mem. bers will conclude festivities’ at: tendant upon the annual gatherings of the two organizations. Colonel Sopers commander of the veterans’ hospital at Sheridan, was the orator of the mornin, sion who produced the grea thusiasm. He briefly sketc work his organization {s doing for the ex-soldiers and told how he and his aysistants were trying to put humanity into the government's ef. forta in cafing for the disabled, Supplementing Colonel — Soper’s talk were brief remarks by Major Hentz, clinical officer, and William Farnsworth, contact officer of the same institution. From the talks of these three of flcers it is self evident that the ut most ls being done for tho vete: in this district who need hospitaliza- tion attention. James Milota of Riverton made the report for the publicity commit tee andatrersed the need of bringing the work of the American Legion to the attention of the public, Dr. A. G. Crane, dresident of the University of Wyoming, was sched. uled fur the main address of the afternoons his subject being ‘The Tdeals of the Amerfean Legion.” Lyle D. Tabor, of the children's velfare committee of the Legion, was also expected to speak. Immediately following tha conali- sion of this afternoon'g séssion the “Forty and Eight,” the socin! organ ization of the Legion, will hold a parade and initiation ——~— SUGAR NEW YORK, Aug. 26, — No ehanges octurréd in the refined su- gar market which was quiet. Fine Granulated ranged from $6.85 to 7.00. Refined futures were nominal, Sugar futures closed firm; approzt- mate siles, 54 tons; September, $3.46; December, $4.77; January, 89.67 March, $3,37, AERTS EE NEW YORK, Aug. 26.—Cleveland at New York postponed, rain. Doubleheader tomorrow, Alabama is preparing for a cele- bration next yearsin= honor of the from. Ivigtut to tuke place today. WASHINGTOD AUR. 26.—0(B: The Associated Press.)—The govern ment of Idberia in a formal com munieation delivered by Brn Lyon, consul general, has adVised the Washington government that iq is “irrevocably opposed both in prin ciple and in fact to the incendiar: poliey of the universal negro. im: provement association, headed. by Marcus Garvey.’ Great Britain Speaks Opinion On Armaments GENEVA, Aug. 26.—(By The As goclatrd Press.) —Prime Ministe! Macdonald, of Great Britain, toda: declared to the League of Nations] that although Great Britain wa constantly seeking to reduce he: armament expenditures, she could not pledge that the present or that future British governments would! not exeeed the current outlays, His statement was made in answe to the league's request that all coun tries attempt, in the future, not to| exceed their armament expendity for this year, Mr, Maedonald eniphasized that al considerablo part of the expense was' due to ympetition between — the| powers, which could be eliminate nly by mutual agreements. He d jared that Great’ Britain always) was ready to negotiate such agree- ments, Higher Prices Will Make Up For Short Crop Aug, 26.—While Increased prices has ‘suf meas WASHINGTON, fered from drought agricultural pr probably will offs ure the disadvan Secretary Hoov return from through the west Business throughout the country Mr. Hoover sald, “ mfor ably fixed," He licted thet the recuperation of Buropean countries under the workings of the Dawes plan. would intensify American In dustr in many instances and havo a geDerally beneficial ef very c centennial of the visit of Lafayette Me that state in 1925, Vote Getter ws 3, aa eG Airmail Service— mily Newell Blair, ylee chairman of the Democratic Nat- ional committee, will have charge of vote gettng work among the wo men of the west. She has openod headquarters in Chicago,