Casper Daily Tribune Newspaper, October 15, 1924, Page 9

WEDNESDAY, OCTOBER 15, 1924, pearance een Oil Kast Outguesses West in Wool Trading: Prices For Raw Materials on Climb (Copyright, 1924, Casper Tribune.) NEW YORK, Oct. 15.—In the continuous poker game- between the wool producers and the manu- facturers, the east this year has outguessed, outlucked or outbluffed the west. Prices of raw wool are up and are still showing an inclina- tion to advance. But the growers in most instances sold their clips well below the top and only the exceptions and those who shipped neir wool on consignment obtained the most advantageous figures. The profits.in most instances went to the ane who juggled wool bales sul lly between American and European markets, Here is what has happened in the wool market. During the war, fine territory wool sold on a scoured basis. at $1.84 a pound. In 1920 the average price in the Boston market had dropped to $1.66. Then came a slump which sent this grade down to 82 cents in the fall of 1921. Since 1922; it has sold above $1, touching $1.53 in May last year. In June of this year, another drop carried to $1.28, but it has now ad- vaneed again to about $1.50. Half blood territory wools which sold around $1.15 to $1.18 clean basis during this year’s depression, are now commanding $1.30 to $1.35; three eighths blood wools which were 90 to 98 cents a pound in June are now worth $1.20 to $1.25 and quarter bloods have advanced in the same period from 75 to 78 cents to $1 and $1.05. Pulled wools at Chicago have shown similar price increases. But most growers sold during the June slump or soon thereafter. By that time, it was reported fully 90 per cent of the 1924 clip had been sold, Ordinarily only 25 to 30 per cent of the clip ts sold on consign- ment and probably only 25 ,per cent of the growers gained the advan: tage ‘of the higher prices now ob- Commodity- Co) t, 1924, Casper Tribune. abhi Iron and Steel. PITTSBURGH — Predictions are being made that with the abanadon- ment of “Pittsburgh plus” steel will move shorter distances to consum- ers. Revenues of railrc.®s may be slightly reduced. Thero 1s already me talk among steel* men of,agi- tion for lower freight rates. CLEVELAND—Iron ore receipts here up to October totaled 25,095,- 600 tons as Lose) 33,577,657 last year. Game. SPRINGFIELD, ILL.—About 50,- 000 pheasants, ducks, partridges and other. wild fowls have been hatched the past season by chickens in this state. The eggs were provided by the Illinois game commission. ‘SHREVEPORT—Members of the Louisiana Cotton Growers’ Co-Ope- wrative Marketing association have delivered 9,193 bales for marketing to date. This is an increase of 40 cent, as compared with October, it year. Hardware. PHILADELPHIA — Demand for ‘hardware is only fair in this section, but_prires remain firm. Stocks are smaller than a’ month ago. spam, Rubber. AKRON—Rubber manufacturers here are finding a smaller labor turnover at present than for many months. Employment agencies have difficulty in placing men, although factories are maintaining output CHICAGO, Oct. 15. —Trade in futures in cities throughout the country totaled 2,119,228,000 bushels during September, of which 1,825,578,000 were handled on the Chicago Board of Trade. The volume of business on the Chicago exchange was 15 per cent below that of the prévious month, al- though nearly double that of Sep- tember, 1923. Duluth board of trade with 69,128,000 bushels of grain handled, showed un increase of 187 per cent over August, while “the Minneapolis Chomber of Com- merce had 119,429,000 involyed in transactions. . SILVER LONDON, Oct. 15.—Bar silver, 35 9.16 pence per ounce. Money 3% per cent. NEW YORK, Oct.’ sugar was unchanged at for fine granulated with a more ac- tive demand. Refined futures were ndminal. — Flour. MINNEAPOLIS, Oct. —Flour 10c higher; family patents $8.20@ 8.26. Bran $25.00@25.50. oo FOR SALE—Any part, 700,000 shares of Preston oil stock, at $6.50 -per thousand in 10,000 lots. Inquire Mr. Blas Vucuverich, broker. Trade News BUSINESS BRIEFS Bonds Finance :: American American American American Inter~ational .. Lee @ ive --.-.-- American Smeltiug & Refg. - American Sugar --~-.. American Tel and Tel. American Tobacco American Woolen on American Zine, Lead and Sm. Anaconda Copper Atchison -.-~-----—. Atlantic Coagt Line Baldwin Locomotive Baltimore and Ohio taining. The northwestern sheep men perhaps were as fortunate as any. It is estimated that nearly 75 per cent of the Washington, Oregon and Idaho clips were sold at high figures and that Montana and a few men in the northwest received within 5 pwr cent of the top figure. The southwestern raisers also did fairly well, since those who clipped early ‘and sold early got’ better prices than obtained in mid-summer. The supply on the ranges now ts so scarce that in Texas considerable five months wool was clipped this fail and rushed to market to take advantage of the high prices. Co-operative pools art reliably re- ported to have little wool on hand since most producers were induced to sell early and get what“ they could. It is estimated only 12 mil- Hon to 13 million pounds still is held in pools while the entire clip for the year ts estimated around 200 million pounds. That amount ts far from sufficient to supply the American demand. In spite of this fact, however, Boston still is the cheapest wool market in the world and America has shipped milliens of pounds of wool abroad to take advantage of the differential existing between American and for- eign markets. It probably will be found that a world shortage exists and prices give: every indication of firmness and further advance provided the demand for goods this fall and win- ter is as high as conditions promise. Growers throughout the country have been loud .in charges of manipulation of the market. They declare that much of the complaint of the’ woolen textile men over con- ditions was for the purpose of de- pressing raw wool prices, and that some of the larger mills which bought wool cheap sold it at a big profit instead of turning it “into cloth. Bethlehem Steel” -. Calffornia Petroleum -------- Chafdelr Motors ---------. Chesapeake and Ohio -.-..-- Chicago and Northwestern -- Chicago, Mil @ St. Paul pfd. ~ Chicago, R. I. & Pac. - Colarod Fuel and Iron Congoleum ex diy. Consolidated Gas ~. Corn Products New Cosden Ot) Crucible Steel ex div. Cuba Cane Sugar, pfd. Dayison Chernical Du Pont de Nemours Erie Famous Players Lasky woes General Asphalt Genera! Bilectric General Motors Great Northern pid. - a Gulf States Steel -- Houston Oil ~-----------. Diinols Central International Harvester Int. Mer. Marine pfd. - Kennecott Copper Loulsvillé and Nashville Mack Truck Mariam Oil Maxwell Motors A -. Middle States Otl --..-..-..-- Missouri Kan. and Tex. Missouri Pacific pfd, -------- National Lead -------—----- New Orleans, Tex and Mex. New York Central ~------..-- N. ¥., N. H., anfl Hartfo Norfolk and Western ..-9---~ Northern Pacific -----.-42--- Pacific. Ofl --~-=--------+0-= around 100,000 tires a day and orders) pan American Petroleum B show no let-up in demand. Sales of 5 oynsyivania rubber footwear are heavy. Poultry. SACRAMENTO — Reports from turkey raisers in the Sacramento and San Joaquin valleys indicate| Reynolds Al Tin B -- that supply for holidays will be well| Seaboard Air Line dive above normal. Condition of the| Sears Roebuck ex div, -—.—-. birds also is above normal. Producers and Refiners .... Pure Oil Reading -.------.. Republic Iron and Btee! Sloss-Sheffield Steel and Iron Southern, Pacific -..--------- Southern Railway pfd. ----.. Standard Oll of Cal, -----.-- ‘Textiles. ADAMS, MASS.—The Berkshire Cotton Manufacturing company here resumed full time schedules today. CLINTON, MASS.—The Bigelow Hartford Carpet company plant here Has gone ‘on a six-day-n-week sched- ule after operating two months on a three-day basis. * On. . SETTLE—A syndicate of of] and timber men with eastern connections has been formed to lease "175,000 acres of forest and cut-over lands in Western Washington, with a view to prospecting for oil. One well in the Grays Herbor district hns been start- ed and development work is expect- ed to cost approximately $25,000, Automobiles. CLEVELAND, 0.—The Jordan Motor company reported that Sep- tember earnings were sufficient to cover dividend requirements for six months. About 85 cars are being turned out dally. U. 8. Cast -Iron-Pipe ..-..--- United States Rubber -._.. United States Steel --..--. Utah Copper Westinghouse Electric Willys Overland Woolworth BOSTON.—Th are now 636,849 passenger and commercial autos reg- istered in Massachusetts as compar- ed with 531,618 at this time last year, Gal. Sig. Com ~--.-... Gal. Sig Old Pfd. -.---. Minois Pipe Indiana Pipe Natiohal Transit New York Transit Northern Pipe Ohio Oil International Pe! POTATOES CHICAGO, Oct. 15.—Potatoes trad- ing slow, market firm on Ohio and 820d white stock, weak on ordinary white especially Wisconsin, Re- ceipts 65 cars; total United States shipments 1,240; Minnesota and North Dakota sacked’ Red River Ohios $1.00@1.10; Minnesota sacked round white 80¢@95e; Wisconsin sacked round white 65@80c; few best bulk 65@85c; new fancy 90¢; South Dakota sacked Early Ohios 90c@1.00. Batter and Eggs CHICAGO, Oct. 15.—Butter, high- er; creamery extras, 37%c; stand- ards, 35%4c: extra firsts, 3514@36%e; firsts, 3344@840; seconds, 31@31%c. Prairie Pipe ~—~....-- Solar Refg. ------.--. 8. O. Ohio pfd. _.. Swan and Finch Vacuum ----—. Washington 8. 0. Neb, Eggs, unchanged; receipts, 3,112 ste Torchtight Elk Basin . Rock Creek MONEY Sait Creek. Big Muddy . Mule Creek NEW YORK, Oct. 15.—Call] Sunburst —-. money, easier; high, 2%; low, 2%;] Hamilton Dome ruling rate, 2 closing bid, 2%;| Ferris ~-------- offered at 2%; last loan, 2%; call] Byron ~..----..----.. loans against acceptances, 2%; time| Notches ~.... loane, firm; mixed collateral, 60-90] Pilot Butte . days, 2%4@3; 4-6 months, 34@3%;| Lander prime commercial paper, 3%. ps wlbarss a ca ereE sy Tks Thee The eight-hour day as the ideal working day was proposed in Great Britain as early as 1833, Linen was the first fabric w able of inventions. U. 8. Ind. Alcohol ----------- , Sinclair Con, ...------------. 16% 67 92% 57% 35% 109% oven. Toys have been the most profit- fhe Casper Daily Cribune Stocks AND QUOTATIONS BY¥ LEASED | Boston Wyoming Buck* Creek Burke -... 25 Blackstone Balt Creek 20 (26 Chappell «. - 08 10 Columbine - 06 Central Pipe - 1.00 Consolidated Royalty - 1.14 Cow Gulch -. +03 Domino ~ 206 Blkhorn 02 Franta ----------1--.- 9.50 ®. T. Willams 22 03 ¢ 10 Jupiter 208). Kinney Coastal -_--.. .06% .07 ‘Lance Creek Royalty - .00% .01 Marine -... 3.00 8.16 Mike Henry --------- -00% .01 Mountain and Gulf -- 1.30 1.35 New York Oil 12.00 Picardy .-. 04 Preston -. 01% Red Bank 36.00 Royalty and Producers 04% Western Exploration — 3.10 Western States 10% Wyo-Kans -----. 0 ¥ -O1 NEW YORK CURB CLOSING Bid Asked 19.37 19.50 Mountain Producers Glenrock Ol ~ Salt Creek Prds. 26.75 Salt Creek Cons. 8.00 11.00 210.00 Mutual .. 2 4 10.75 55.50 8. O. Indiana Chicago Prices. / GHICAGO, Oct. 15.—4U. 8S. De- partment of. Agriculture).—Hogs— Receipts 22,000; mostly 25c%35c low- er than Tuesday's average or 35c@ 50c lower than the best time; under- weight and packing sows show full decline; over supply and light ship- ping orders; top $11.25; better 200 to 340 pound butchers largely 10,90@ 11.15; bulk desirable 160 to 190 pound welght 3 majority good and cholce 140 to 150 pound offer- ings $9.00@9%0; packing sows most- ly $9.75@10.10; bulk desirable strong weight slaughter pigs $8.00@8.50; heavy weight hogs $10.60@11.25; medium §10.50@11.25; light $9.40@ 11.10; Ught ight $7.75@10.10; pack- ing hogs smooth $9.60@10.; ing hogs rough $9.50@9.90; ter pigs §$7.50@8.50, Cattle—Receipts 16,000; fed yearl- ings moderately active; generally steady; numerous loads $11.50@ 16.00; long and light kind $12.25; some bid 12.40; heavies comparative- ly numerous slow; weak to 25c low- er; mostly 15@25c off; early top eighty steers $10.75; lber upply fed steers oontingent grading good to choice; sizeable sprinkling of highly finished weighty steers in- cluded in run; common and medium grade not moving; she stock except- ing desirable light helfers very dull at year’s low point; bulls and stock- ers and feeders steady; vealers 2ic lower, bulk around $10.00; several loads western grass steers to killers early $6.60@6.80; weak. Sheep—Receipts 18,000; dull; few early sales fat native lambs to pack- ers weak to 25c lower at $13.00@ 13,25; heavy sort talking around 25c lower than Tuesday on westerns; no early sales} best held at $13.50; sheep and feeding lambs unchanged; fat ewes $6.75@7.50; feeder yearling held at $13.00; short mouth breeding eyes $6.75@7.50; feeder yearling wethers $8.75, Omaha Quotations, OMAHA, Neb., Oct. 15.—(U. 8, Department of Agriculture.—Hogs —Receipts, 8,000; better grades butchers and packing grades, most- ly 25¢ lower; light and Ught lights, 25@50c off; bulk 190 to 300 pound weights, . $10.25@10.50; gop, $10.65; desirable 160 to 190 pound averages, $10.00@10.25; plainer lights, down to $9.00; packing sows, $10.00@10.15; smooth, upward to $10.25; bulk of all sales, §$10.00@10.50; average cost Tuesday, $10.44; weight, 265. Cattle—Receipts, 8,000; fed steers and yearlings, active, strong; two londs of steers averaging around 1,150 pounds, $11.4: hoice to prime 1,280 pound weights, $11.26; 1,375 pound weights, $10.65; several loads long yearlings, $11.00@11.50; other killing classes, generally steady; stockers and feeders slow, steady; bulk grass cows and heifers, $3.00 @5.£5; canners and cutters, $2.10@ 00; bologna bulls, mostly around $3.00; practical veal top, $9.75; bulk stookers and feeders, $5.50@7.26. Sheep—Recelpts, 17,000; lambs, slow, steady to 15c lower; early sales fat range lambs, $13.00@1! natives, $12.60012.75; fed clipped, $11.25@11.40; sheep and feeding Jambe, steady; best,fat ewes, $6.2 bulk range feeding lambs, $12.50@ 12.75; feeding ewes, $4.50@5.75; full mouth breeding @yes, $5.85@7 Denyer Prices. DENVER, Colo., Oct. 15.—(U. 8. Department of Agriculture.}—Hogs —Receipts 900; slow, 15@25c lower; desirable meduim weights loads Aostly $10.50@10.76; few head $10.80; plainer grades down to $10; packing sows uneven $8.00@9.00; fat pigs $8.25; stock kind $7.50. Cattile—3,300; calves 200; slow; around steady; few heifers $4.50@ 5.50; cows $3.25@4.00; some held higher; cutter steers $4.95; several loads feeders $6.60@7.10; feeder heifers $4.75; calves strong to 25c higher; other calves mostly $5.00@ Sheop—Receipts 9,300; lambs around l5e lower; few loads medium grade $12.25; better kind held higher; sheep scarce: quotable steady: feeder lambs bid steady; late Tuesday choice feeders $12.35, slow; fat Grain STOCK TREND Io UNCERTAIN Market Leaders Hold Firm But Minor Issues Get Setback Oct. 15.—Stock partial recovery from lay'’s sharp reactidn in to- ‘s market, which was featured the heavy accumulation of the The new German bonds "d a new peak price at Sales approximated 1,000,000 nw YORK, prices made by oil shares, establis 94%. shares. NEW YORK, Oct 15.—Conflicting price movements marked trading in stocks at the opening of today’s market. Considerable confusion at tended the early dealings with prices for the most part fluctuating within al limits, American Can, . rallied 1% points and Dela- nd Hudson and Goodyear pre- point each. Nash Motors points covering operations, Short peting with renewed lNquidation and com: bear selling, unsettl the first half } 1 the market in ur of trading. Stocks which opened substantially higher, such as American Can, fell back abruptly while earller weak features moved vigorously ahead. Recog- nized market leaders held firm but in-roads were made into the prices of minor shares. American Chicle preferred yielded 3% points and Consolidated Cigar preferred 1%. uins of a point or so by Baldwin, Lackawanna, General Electric, Colo- rado Fuel and National Biscuit, were counteracted by similar losses in American Car and Foundry, Ameri- cin Telephone, American ‘Tobacco, and International Mercantile Ma- rine preferred. Foreign exchanges opened steady. Brisk accumulation of the of! and railroad shares, which advanced 1 to 3 points, encouraged short cov ering in other quarters during the morning, with the result that the market temporarily threw off its early restraint. Food, merchandis- ing, gas, metal, public utility and motor issues were in demand for cov- ering purposes, When the immedi- ate requirements of the shorts had been met and the market turned dull around noon, bear traders renewed thelr attack. American Can, U. 8. Cast Iron Pipe, General Electric and several other popular industrials fell a point or two from their e Kighs. ‘The stronger resistance of- fered by the general lst to the sec- ondary selling was widely construed as an indication of improvement in the technical condition of the mar- ket. Call money reneweded at 2%. Control of the market rested with the bull faction in the early affer- noon and they pushed their advant- age to the utmost among the spe- clalties. American Can was lifted 2% to 1.27 and National Biscuit, Colorado Fyel, Houston Otl!, Wool- worth, Gerieral Electric and Sinclair Oil preferred gained 8 to 4 points, Lackawana and Delaware and Hud- son wero the leaders in the early railroad section, with gains of 3 and 3%, respectivel The closing was firm. Buying of blocks of 1,000 to 5,000 shares of low priced oils on the final hour lifted a number of them one to two points. Northern Pacific and Groat Northern preferred were weak, -———— Grain and Stock Opinions From | Brokerage Wire| Grain Opinions. THOMSON McKINNON — The market situation is again healthy, RIORDAN MARTIN—We may get moderate setback in wheat. We see nothing on which to buy corn. JACKSON BROTHERS—We feel that wheat is due for a good upt UHLMANN GRAIN COMPA Not until unnatural sellers can the situation change materially, STEIN ALSTIN—Indications fa- yor a further advance. BARTLETT FRAZIER—We ex- pect much higher prices. HULBURD WARREN—The signs jiy higher prices th Stock Opinions, GOODBODY AND COMPANY — For the next week or two we look for an irregular, trading market with # sagging tendency, BLOCK MALONEY—We favor a trading policy and think it wise to use strong spots to reduce holdings as we think they may be replaced on further dips, PYNCHON AND COMPANY—We Suggest taking advantage of upturns for the purpose of taking profits on long stocks and reducing long com mitments, HORNBLOWER AND WEEKS— Stocks would not have broken last week support points. unless import- ant selling had been taking place, and having broken developments of resistance, market is unsettled. We would Accordingly accept such ral- lies as may occur, early this week a8 providing a satisfactory level to reduce commitments, LIVINGSTON AND COMPANY— We doubt if the market can do much on the upside and.we would stil! rather fell on rallies than purchase stocks. Later on there will be good chance of other upward move ment, os ee PARIS, Oct —(By The Asso: elated Press.)— ance’s 3,000,000 pound share in the Ioan to Germany hasbeen oversubscribed although It has not been offered to the public. Eh aetich eadedibents The first Joca) unions of printers In America were drganized in 1831, GRAIN PRICES — MOVE HIGHER Uncertain Start Today Fol- lowed By Definite Up- ward Movement CHICAGO, IIL, Oct. 15.—Subse quently, with aggressive buying the gains in price became much more pronounced, It was estimated that export purchasing since Saturday ‘would total between 6,000,000. and 7,000,000 bushels. The close was buoyant, 4 to 4%c net higher, De- cember $1.51 to $1.51% and May $1.55% to $1.557%. Indications that husking returns would prove disappointing had a bullish effect on corn. The close was firm, 1% to 1%c net higher, December $1.13% to $1.13%. CHICAGO, wavering saon Oct. 15.—Despite a start, the wheat market cored fresh gains in price to- day. Initial weakness was chiefly due to lower quotations at Liver: pool. Indications, however, of bit new export buying of domestic wheat tended to give strength to values and so likewise did further advices of unfavorable conditions for the growing crop in Argentina. The opening, which ranged from Jee decline to %ec gain with Decem- ber down to $1.46% and May $1.51 to $1.51% was followed by a moder- ate upturn all around. Corn. swayed with wheat, easing at first and then scoring gains. After opening % to the down, De- cember $1.11% to $1.12, the market rose to well above yesterday's figures. . Oats were firm from the outset, starting unchanged to %c higher, December 5414 @54%c and later con- tinuing to harden, Provisions averaged higher, pathizing with grain rather with hog values. sym than High 1.51% 1.56 1.87% Low Close 1.46 1.51 1.50% 1.65% 1.32% 1.13% 111% 1.13% 1.13% 1.18% 1.15% 1.15% 55M 60% 56% a--- 131% 1.35% 1.91% 1.35% 1.32% 1.35% aowe 1.32% 1,36 15.25 14.20 16,07 15.25 13.95 14.20 12.25 12.52 14.60 12.96 CHICAGO, Oct. 15.—Wheat—No. red, $1.5 No. hard, $1.45% 2 mixed, $1.14K%@ yellow, $1.15@1.15%. 2 white, 534% @53%c¢; No. 3 white, 56% @52c. Rye—No. 2, $1.31. Barley—79@9ic. Timothy seed—$4.75@6.60. Clover seed—$16.50@26.50. Lard—$16.85. Ribs—$13.12. Bellies—$16.00. Foreign Exchange NEW YORK, Oct. 15.—¥Foreign exchanges, easy. Quotations in cents: Great Britain, demand, 448 13-16; cables, 449 1-16; 60-day bills on banks, 446 11-16; France, de- mand, £.18%; cables, 6 Italy, de- mand, cables, 4.36%; Bel- sium, 4.79%; cables, 4.80; Gormany, demand per trillion, .23%; Holland, 39.08; Norway, 14.05; Sweden, 26.1 Denmark, 17.20; Switzerland, 19.18; Spain, 13.43; Greece, ; Poland, .19%; Czecho Slovakia, 2.9 Jugo Slavia, 1.42; Austria, .0014%; Rumania, 54%; Ar- gentina, 3 Brazil, 11.55; Tokio, 3814; Montreal, 99 31-82. | METALS NEW YORK, Oct. 15.—Copper— Firm; electrolytic, spot and nearby, 18%4c; futures, 13% @13%c. Tin—Firm; spot and $50.00; futures, $60.12. Iron—Steady and unchanged. Lead—Steady; xpot, 88.00, Zinc—Steady; East St, Louls spot and futures, $6.30, Antimony—Bpot,_ nearby, $11.00. Davis to. Turn . East Tonight In Campaign ABOARD DAVIS) TRAIN. ROUTE QUINCY, Ills., Oct, 15 Leaving - Springfield early today John W. Davis, Democratic presi/ dential candidate began his last leg of his trans-Illinois westward swing and prepared to turn east again to- night, gofhg from Quincy to Chicago for a two-day stay before starting the campaign’ laid out for him in Missouri, ‘Tenn Kentucky, In diana and Ohio. Mr. Davis summed up his sions 6f the trip so far “E have found nothin to me a lack of interest,” “but overywhere 1} ptions that I alive and alert on public and demonstrating too, is in truth and fact a Dem ear." EN impres: made neing said, believe that that thi ooratic Livestock :: All Markets Market Gossip General Business Summary. New York and Honduras Rosa Rio | mining declared extra dividend of 2% per cent and regular dividend of per cent payable October 28 to stock of 18th. acco Products declared regular terly dividend $1 * payable _November October 31 Cudahy Packing compar regular semiannual per cent on the six per cent prefer red and 2% per cent on the 7 per cent preferred, both payable Nov. 1 to tock of record Octot General Motors delivered to con sumers in September 49,188 cars and trucks against 54,871 in August and 5 oon 15 to stock class 60,111 in September last year; nine months 543,924 against 588,135 Punta Allegre Sygar for year end ed May 31, netted $5.50 a share against $10.53 a share year before. Postum Cereal nine months ended September 30 netted $6.76 2 share on common against $5.12 a share same period in 1923. Western Union for nine months ended September 80 netted $9.48 a share against $10.14 same period 1923 Detroit Edison for nine months ended September 30, including all constituent companies had a sur. plus after charges of $4,013,265 against $3,248,897 for the same pe. riod last year. Minneapolis Federal Reserve bank reduces rediscount rate from 4% per cent to 4 per cent, Department of Labor reports em- ployment condition throughout the country much {mproved. Depression in the shoe manufac turing and textile industries being rapidly overcome and unemployment thereby diminshing. Borrowing demand Iast night in stocks loan market was largest in the experience, brokers prominent in stocks loans transaction stated. fonal Biscuft declared extra dividend of $1 and regular quarterly dividend of 75¢ on common, payable November 15 to stock of October 31. Earned $1.56 in third quarter against $1.55 in second quarter and $1.35 same quarter last year. Net for nine months, $4.37 a share against $3.79 last year. Rregular quarterly dividend $2.50 declared on Burns Brothers “A” and 50c on Burns Brothers “B" payable November 15 to stock of November 1 Pittsburgh Steel company and sub- sidiaries report for year ended June 30 a net of $4.70 a share on 175,000 shares common against $9.19 a share on 140,000 shares outstanding in 19: Oi1 Summary. Mexican Seaboard Oil has com- pleted number 36 Caoalilao at 2,085 feet, good for 1,200 barrels initial; wel! is 193 feet higher than number 82 and located 1% miles inside from near competitive drilling on border of lease, Times saye: “The matter of financing oll companies during the winter is giving much concern and the problem is regarded as éifficult. Mexican Seaboard, Sinclair, Ohio Oil, Empire, Union Ol and others scramble for acreage in Somerset, Texas, shallow field.” American oll men in Mexico City ™ call off conference and return to United States as a result of gov- ernment’s refusal to reduce oll taxes, Pan-American Petroleum company and Shell company of California an- nounce abandonment of test wells on coast 18 miles southwest of Los An- geles. These wells were drilled over five thousand feet, but at no time gave indications of oll. American says there was some buying of Standard Oil of New Jer- sey yesterday aroused by the hope that important interests in company wero inclined to take a bullish posi- tion. Civil suit’ against. Pan American Petroleum by government sched- ule for trial October 20. Lubricating oils in better demand on Gulf Coast. Prairie Of1 and other purchasers send out notice in Wyoming that they have bought all oils stores for producers and that pipe line connec: tions immediately will be laid to all new wells and pools and that all crude oil offered will be accepter. ———$—$—— DRY RAIDING NETS RESULTS Jesse Hatfield was fined $106 in Polico Court yesterday on a charge of operating a xiii! at 604 South Washington street. Bessie Smith, who had been arrested on the same raid, was dismissed John Ancook, arrested at 136 West Second street, was fined $50. The police raided a place at 516 East Yellowstone avenue about 11 o'clock last night. Mrs. J, W. Wile son, allas Roso Williams, was ar. rested and is being held on a charge of selling Hquor, One quart of moon- shine, one case of beer, and half a gallon of wine were found. Golf Tourneys Are Scheduled On Sunday Next Taking good weath the nt Avantag the general r promised for asper Cot the end, intry Club tor ommittee hi stakes tournament fe and a Indies and gentlemen's ment for Sunday afternoon. The course is in excellent shape and a fair day is expected to bring heduled Sunday tourna: a swee out a record number of members for a fall tournament, PAGE NINE. m FS COMMTOIOORGO | The Cheklang forces are getting their ammunition from German These boxes, piled high outside the Chekiang headquarters at Liuho, came. from Krupp's, their , labels Droclaimed, ; 4 picor SS YOUNG WOMEN DRAW PRISON TERMS FOR COMPLGITY IN THEFT LARAMIB, Wyo., Oct, 15,—Bobble Berth and Ruth Pacholke, young women arrested here for receiving goods stolen from a clothing store here, were taken to Canon City, Colo., to serve from one and a half to three years, there being no prison for women in Wyoming, They pleaded guilty. William Pacholke, Joe Costello and Bonnie Booth, aged 26, 32. and 24, respectively, ‘charged with burg+ larly, pleaded guilty and were sen> tenced to serve from five to tem years and are in the penitentiary here. ine aA 1 aS Comers Tribesmenin \ M oslem City CAIRO, Egypt, Oct. 15.—(By The Associated Press).—The Wahabi tribesmen, enemies of the Hashi- mite dynasty in the Hedjaz, under pressure from whom King Hussein abdicated In favor of his son, All, have entered Mecca, the Holy City of the Islamic world. The situation is quiet and there havé been no ex- cesses on the party of the occupying forces. The leaders of the Wahabis assur ed the consular corps at Jeddah that foreigners would bo safe and that the invading forces would not at- * tack Jeddah, LOSS SHOWN IN RETURNS NEW YORK, Oct. 15,—Ths Re- public Iron and Steel company to- day reported a net,loss from the quarter ended September 30 after charges of $45, This compares with a surplus of $1,269,345 for the preceding quarter. Students Out a on Strike at Clemson, S.C. SMSON 88 COLLEGE, 8. C. Oct. room work at Clemson the state's military agricul- tural and mechanical college was suspended pending a settlement of the situation that arose when nearly half the student body of 1,000 mem- bers quit the campus in protest ainst the suspension o fa student and as merk of dissatisfaction with the mess hall fare. Possibility of the entire student body leaving was seen following a meeting tods the cadets who re- mained, at which resolutions were adopted appointing a committee to confer with college officials and to present the students’ demands, one of which was understood to provide for the reinstatement of all those who left the school grounds, Acting President 8. B. nounced that he would ommittee as woon celve T tarlo, an. | meet the as he should re- request from it | cade whose punishment pre cipitated the walkout was R. -F (Butch) Holohan, president of the senior class and member of the var- sity fotball eleven, who was pended sus For results try a Tribune Classi tied Ada,