Evening Star Newspaper, March 13, 1921, Page 28

> \ / N . T = = = 5 " (CIAL 28 FINANCIAL THE SUNDAY STAR, WASHINGTON, D. C. MARCH 13, 1921—PART 1. FINANCIAL. ] — = — e —————————— — i = s i b whio Aitens = number two weeks ago was 48, while | FURTHER DECLINE IN COTTO) l RANGE OF MARKET AVERAGES ; cxcenting st scars minimam [eetunck whien threatens s coun-[1), §, FAILURES SHOW LESS |12 (S0t “Ea 5% VoS | "o womat soaron 12 thers wae . 5 ; Reductior. of the rale on British o = only 16 Canadian defaults. Of the to- |, 4, ¢par . decline in the cotion mar- | The foll ¢ ChArl shows LarAphically. in6 @etlon of Torly: rerban Shorts Gain a Point. 3 tal number this week. 12 failures in- 5 d ] Bitihates lof e e propor- | eXchequer as the one hopeful Decrease of 18 From Defaults Re-| ()i ad 35,000 orimore of liabilities.In| ket today. The reported failufe of a | sentative « a1t in on ithe New. York period {tions of long and short . diltered | note sounded. abroaa aud gave rise | tach instance, the same number as ! London banking and mercantile firm | covered past_month. up to and incliding market : 8 ions of long an . : to dise on of a possible lower | ported Last Week. 1 Tast week. | emphasized the uasettled conditions | Friday h 11, The lower scetion of the cha relative | wigelvbaeothiestone of the mavkebly o Fpisiingl rate, | The Tatter| Spw ORI : el \ | abroad, While there was no fmprove- { activity of the market jin the later dealings clearly indi-|Bark of England rate = The latt NI ORK. March 12—For} e | ment in reports from the domestic| — — FEBRUARY = |eated that shorts had succeeded injTOTE It U |.u-<|ri‘:|ug,:l‘n;on e tiiingaithe third suecessive week. com-' Y. Y. RESERVE BANK REPORT. | goods trade. These features caused 5.1 insrey DU i etarse @ S l“:;“‘“_:f’" of the final autheritice who eontrol | Mereial failures in the United States| NEW YORK. March 12.—The state- continued liquidation by carly weck | X lo 17 13 19 e I:'(,‘,‘,',""“" and provoke fresh HAUMa~ {5y orest and discount rates in this|show a reduction, numbering 203 this | ment of condition of the Federal Re- [USErS and the pric of May bioke! gy ] L The dominant factor in the decline Market 5 A:‘]’ff"ill""’r{fir;zfiqd;‘,;;:;-‘:;fl“f‘ 18 from | scrve Bunk of New York al the (he rally of last week. 1t later | ] Stock Market in Constant conterea arouna the rairoad situa- Dun & Co. last week. and is 120 few- | close of business March-11 &how worked up to 11 and closed ut = 1 1T »tion, particularly in relation to the DEFICIT |N FRENCH TAXES er than the 413 insolvencies of two! Total gold reserves. $436.024.257 l”' ,,“ th "_“f‘_ L'“':"'_’il P "'-*“_',': 81 - | K Di forthcoming nationwide reduction of . ago. In this week last vear,| Total reserves, $610, ey e R ] : Fermeni—Bankers Discuss | uu« . er. there were onl 2] s diatonstalh stbia) by, govs | Bols oy 18 2l @ Returns of the railroads for the| PAR March '12.—Tax re ts for Aside from the Pacific w..:jnu,,,, war obligations. ior members, slasita < 79— i L8R ] ng He first month of the Year were ex-|pepry; ¥ 21.437.00 < Where an increase of 13 appears, de- | 389519031, - Trade Conditions. ene disappointing, and prelim- | LCOTUSTy were 8§21437.000 francs. fiS n Cuch of the geozraphical | Al ofher—Ifor memberk, £185,060.- e ! e W giinee ™ figures for February showed|Which was 228,3§8,000 francs below |divisions this week are fewer inisgg2 L a .. | | % NEW YORK. March 12.—Develop- (800 BB Jlion, due mainly to|the estimate. The biggest deficit|number than last weck. there being | Hills bought in open markei. % 2 ¢ ments of the week i the financial | ¢pajjer grain and cotton shipments|continued to be in the tax on the o lecrea §I"n!r ~l:“nl\hnh‘:M-'asv, s mtng;‘r_:“gi L PR 8 » d the leading commodity |and the decline of stee iron de- | b st ver. which yielded | the sou d 5 e west. . otal bills on hand, S613.4/ z and the leading commodity |and the decline of steel and iron de- | busine 200 trames. instead of the ex. | Despite the smaller total of fail-| Total ecarning asset 971.275.03 feii ety 5 » markets strengthened the belief held | liveric 71, rancs, instead of the D A e Cthe Ser LoLs % o (el v ¢ yrmed banking eircles that ; ; pected 413,000,000 francs Jizes. fon thd) ottieriiiand. the wam Uncollected items and otbar. de clent tn oh in well informed banking e urope’s Tnfluence Adverse. e e in business | ©f insolvencies involving $M00 or | ductions from gross dep x =3 restoration of normal conditions 1n 0T Gl Ton oy oid ence prevailing slackness in business | ol [NSPIVeR0 D ety Ihie | oAy on %A commercs and industry is likely to T con {|also was shown by the reduced cus-{ U2k s “icn “detauits comparing | - Due o members: Rescrve accoant. ) owih and the consequent occupation of|toms collections and the sugar 1aX.| with'169 last week, The proportion | §672 465 Seri i Rl 3 4 was in cons Germa by the allied forces was|Other taxes, particularly.those for|of the failures for $5.000 or more to | depos T Rt e aoia pRE ERTR et atis g i &5 another adverse influence. The im-|the registration of deeds and litles| the aggregate number is 5% per cent, Federal reserve no SIS FRAONS Sl 7 B ; o Ression is dew and the amount received for docu-|as agaimst 54.3 per cent. culation, $791.403,430. | S e bk mediate effect of this development|mentary stamps, exceeded the esti-|" Qommercial insolvencies in_ Can- | Ratio of total reser Marmosets and similar smail mon- T—' Qacted valne obvious in the foreign ex-|mates. The war profits tam yielded|ada show some increase, numbering and federal reserve note Kegs have claws on their fingers and | L gel 2 [ § 63 more censpicuous issues T - market. however, than in the | 282,000,000 francs. 38, or 7 more than last week. The | combined. 41.8 per cent nails bn their thumbs I & - +— z 3 2 1| ' n 1 t i H 3 3 = A o . . ° ° H z (Cepyrizht, 1921, by W. F. Meyer) Mizh 1920 High 1921 to Date 13 { Industri Industrials bruary 16 Rail anuary 15 H These ar well as a cc makes Reed Three-pieca pholst holstered to ment. Among is this attracty long push N 1 Every N h Cotton Mattress. fuli size: filled with clean, pure cotton ts: spring upholstered: bottoms; backs up- Baby Carriages A famous m carry a_ very wheels, rubber tires, foot brake, nicely upholstered; ; - Effective Reed Suites —Reduced— e Genuine Reed—which insures durability. as yntinuance of that refined appearance which GENUINE with loose loom Suite, of gured Cretonne. Living ered in Fi atch cushions. Holland Gray, Frosted Brown and Fr Ebony finish. Regular price, $165, reduced to 4 e e I Three-piece Living Room Suite. GENUINE U ), designed on gracfully curved lines; upholstered loose cushions; in il in Crétonnes; spring seats and s 95 | Frosted Ebony or Frosted Brown finish. Regular price, - | $185, reduced to . IO SR R S f Attractive Table to match elther of above suites. ~ s 85 il in any finish, $38.50, POdUGEE £0. .. cccbocrcrenrnonces o' Stepladder Chair One of the real necessities of Stepladder Chair illustration—that ake, of which we excellent assort- the many shown ve one—with wire every home. —very like folds into a regular chair, but is quickly convertible mto a 5 846,50 [1inh R i1 $2.25 Al ,CIAL . lattr, S5 We s 1 is the product of a leading fac- tory—and therefore safely and surely guaranteeable. | covered with art ticking of good grade R Layer Felt Mattress, well stitched and sewed: good 50 prade of ticking. Made by the makers of “Conscience l o Brand” mattresses. SPECIAL T Z Good grade of HBox Sprinz. well constructed with s 75 excellent grade of ticking.. om0 YO0 60 J ey i Seventh and Eye Streets We have always conducted this store upon a basis of equity—with a policy founded upon the spirit of co-operation—to the end that our prices are materially lowest for a standard of quality inat insures satisfaction. Thus is it to your advantage to seek what you need for the home here. Credit, of course, is yours for the asking. ) House & Herrmann Special Sale of Linoleums of Most Fampus Make Armstrongs Linoleum For Every Room (A in the House Here is the mark of distinction which tells you these Lin- oleums are of the very highest grade—that they came from the hands of those who make only the best. All of which makes these prices very significant and these quotations notably spe- cial. Some are printed, others are inlaid—some are plain color, while others are in attractive figured designs—but all of them are Armstrong make—-and all reduced in price. Because of the reduction, the prices do not include laying. Two Grades of Printed Patterns—REDUCED TO— $1.25 and $1.35 sq. yard Four Grades of Inlaid Patterns—REDUCED TO— $1.45, $1.75, $2.25 and $2.85 sq. yd. . $1.75 sq. yard Carpet Inlay Linoleum REDUCED TO...... Granite Inlay Linoleum REDUCED TO...... Jaspe Linoleum ‘ REDUCED TO......... $2.45 sq. yard Plain Brown Linoleum, especially designed for store, office, vestibule and auto use - $1.60 sq. yard $1.85 sq. yard “B” Quality "REDUCED TO. “A” Quality REDUCED TO......... Also Special— Linoleum Remnants We've taken all the short lengths and remnants of Lino- leum—ranging in length from 3 feet to 18 feetg—some printed and some inlaid—and marked them at RIDICULOUSLY LOW PRICES to clear them out quickly. Bring your meas- urements with you. There are bargains here if they’ll fit your requirements. Linoleum Samples Taken from our display racks—yard-square pieces —that will make excellent mats for use before the stove, table, etc. Printed—79¢ Each Inlay—99c Each Texoleum Felt-base Rug, 6x9, desirable pattern. Choice $5.85 while they last House & Herrma $2.00sq. yard | Refrigerators—Specials Popular Bedroom Suites We believe you will find both of these Suites exception- ally attractive in value and type and price. And they are but two of many we are featuring. -ven-piece Bedroom Suite, effectively turned 325750 5260-% design; Dresser with shaped glass: triplicate mirror on Toilet Table: Chiffonier, full sized Bed, Chair, Rocker and Hair Dressing Bench................... Right-piece Bedroom Suite, in Mahogany finish. Dresser with glass. Chiffonier with five drawers, tri- plicate mirrors on Toilet Table, attractive Twin Beds, Chair, Rocker and Hair Dressing Bench > Side-Ice Type Lift-Top Type The attractive new prices are continued. . The following quotations are only some of the many.- Every Refriger- ator we carry has a reputation which-is fully sustained— and is thoroughly practical in design—and warranted to be satisfactory in your service. $12:85 $13:85 e 516_85 $9475 $26:75 59875 Special Apartment-House style, of the same quality 85 of construction and finish, holding about 65 pounds of 29. Lift-top style, as illustrated, of hardwood construc- tion, nicely finished; will hold about 30 pounds of ice; galvanized lining .. . With Enamel lining Larger size in Enamel lining 40 .pounds Still larger size in the lift-top style, holding approx- imately 75 pounds of ice. 2 SO Side-icer style, as illustrated: nicely made and fin- ished; will hold about 60 pounds of ice; galvanized HRINg ...cciiciiiiiiaiioiecsnessossnssnss cenee Enamel lining, ice New Lowered Prices Columbia Grafonolas Right now is the very best time to buy a Grafonola—the hest of all the “talking ma- chines”"—because we've reduced the prices on every model as follows:— Type Was Reduced to C-2— $5000 ............ $45.00 ....$150.00 Your terms will be satisfactory to us— and delivery can be made at once. Was $12500 K-2—$225.00 Now $85.00 nn Seventh and Eye Streets Rails Industrials Rails Docember 2 Febraary 11 Am Can Contral © Am Car & ey Am Iocom Am Smeliing Baldwin Livo Ko Lalizh Lonis & & St Paul el & Hudson & Ohio idian Pacific Ches & Oliio s Central Daily Movemen i Industrials. 1 Febraary 9. Wednesdar 100 Thursday . 11, Friday i ry { February bruary bruary ONDS 1920 LIBERTY B Tigh 100.40 Liberty 37 Liberty 1 93.48 Liberty 2 92.90 Liberty 94.00 Liberty 9284 Liberty 95.00 Liberty 93.00 82.00 Victory 99.40 94.6) Victory 434s 9940 9470 Twenly Railrond Common Stocks Used Are: Low 1921 to Date tndus: Mar . March 11 Common Stocks Used Arer » Tron & Steel Siwdetn Pacii Nortl W Havon folk & Western » eunsyivan 4 Na t of Averages: AT A GLANCE. Matarity Close date Wei. Low Yesteiday. Yistd 0333 0400 9010 41 o 1s8670 40) .30 305 517 % R680 97.22 07.24 *Bid PROMISES FARMERS AID. ! Gov. Ritchie of Maryland Speaks at Frederick County Meeting. Special Dispateh to The Star. | FREDERICK. Md., March — State aid for the farmers in purchas- ing equipment and marketing produce | was promised Frederick county and | Maryland farmers Thursday night at the spring rally of the Junior Demo- | cratic Club by Gov. Albert C. Ritchie. Gov. Ritchie said that the Maryland administration had under considera- tion a plan that would solve the diffi- | culties and problems confronting the | farmers. The administration, he said. hadj realized for years that insufficient at- tention was being accorded the farm- Ing interests of the state, and that at | the next session of the Maryland leg- islature a budget of bills would be in- :;oduced providing relief for the FIREMEN RESCUE TWINS. adidd Volunteers Succeed in Heroic Work for Two-Week-Olds. Special Dispatch to The Star. CUMBERLAND. Md. March 12— Volunteer firemen made a heroic rescue of twins of Dr. and Mrs. John 8. Coughlan, recently born at their home at Berkeley Springs. The nursery caught fire from an overheated coal oil stove. When the door was opened they were met by | a mass of flame. Knowing that the bed in which the infant boys were sleeping was near a window. the fire- men rushed there, broke it in and carried the children to safety. One of the babies is burned, but not seriously. The children are about two weeks oid and the mother is pros- trated from shock. The firemen found it necessary to wear wet cloths over their faces to effect the rescue. M e ) il MONEY AND EXCHAN NEW YORK, March 11.—Prime mer- cantile paper, 712a73%. Exchange, heavy: sterling sixty-day bills and commercial sixty-day biys on banks, 3.85% Commercial sixty-day bills, 3.84%; demand. 2.89%; cable: i Francs, demand, 7.10; cables. 7.12; Belgian francs, demand, cables 44 guilders, demand, 34. : cable .43; lire, demand. 3.68; cablies, marks, demand, 1 cabl 5 Greece, demand, 7.53; Argentine, de- | mand, 34.50; Brazilian, 15 Montreal, 123 per cent discount. Government bonds ea: Railroad bonds, heav: Time loans, steady. Sixty days. ninet months, 6 per c —_— CLOSING BIDS ON COFFEE: NEW YORK, March 12.—The mar- ket for coffee futures opened un- changed to three points higher on scattered covering for over the week end. The unsettled showing of the official cables from Brazil seemed to have been pretty well discounted by the selling of yesterday, but ex- cept for shorts there were very few buyers and the opening advance was not fully maintained, with May sell- ing off from 5.73 to 5.68 and closing at 5.70. The general market closed net unchanged to one point lower. Closing_bids: March, 5.40: May, 5.70; July, 6.09; September, 6.5; 6.58; December, 6. Spot coffee, quiet t Cost and freight offers in- cluded Santos 4s at § to 814, and Rio 7s at 7.15 to 5.75 American credits. —_— e COTTONSEED OIL QUIET. NEW YORK. March 12.—Cotton- seed oil was quiet and prices were lower today. Financial difficulties of a large vegetable oil house had a depressing _effect upon sentiment. Buylng was mainly to secure profits on the part of recent sellers. Clos- ing bids were unchanged to fourteen points not lower. Sales, 4,300 barrels. Prime crude, 4.50a4.75; prime summe yellow. spotf, 6.25 y. 6.7omaduly, 7,26; September, 7.50; all bid. = e : NEW YORK DRY GOODS. NEW YORK, March 12.—Cotton goods market was quiet today. Fin- {shed goods for nearby delivery were firm; gray goods eased in some quar- ters without attracting business and woolen goods made progress for the fall season. Fall cotton underwear will be opened next week. Silk was steady and burlaps unsettled. Current prices in agencles are: Print _cloths, 28-inch, 64x64s, 5: 64x and six October, 60m, 4%: 38%%-inch 64x64s. 7%: brown lhsel(’n‘x , southern standards, 11 to 12; tickings, S8-ounce, 20; denims, 20s, indign, 17; staple ginghams, 13 dress ginghams, 15 and, 17 il LIVE STOCK MARK| CHICAGO, March 12 (United Bureau of markets). ceipts, 1,000 head: coniparcd a week ago, beef steers, tock and calv cnerally steady ead) to 25 lower: stockers and feeder: fully 25 higher. Hogs—Receipts, 7.000 lights 10a15 lower; otaers generally 10 to 15 higher than yesterday's av- erage; spots up more: ciosing Strong: top. 11.40; bulk of 200 pounds down. 11.00a11.35; bulk. 220 pounds up, 10.00 210.75; pigs, 25 to 40 lower; bulk sirable, 50 to 120 pound. 10.50a10. choice, strong weights, 11.00. S 000 head: re- .ceipts today nearly all packers direct; compared week ago fat lambs. year- lings and wethers mostly. 50 higher: few =pots up more; fat ewes mostiy head: active; | steady. NEW YORK, March 12.—Cattle— Receipts, 4 No trading. Calves— Receipts. 550 Veal, 9.00a 5.00: cuils, 6.00a8.00; little calves, 50a5.00. Sheep and lambs—Receipts. higher. Sheep (ewes), culls, 23.50: vearlings. 9.0 9.00a1 culls, §.00a8.30. Hogs—Receipts. 3120; steady. Light including pigs. 5a11.50; roughs, BALTIMORE, a better call kinds. receipts Ma 12.—There is for live cattfe of all rket rules firmer in tone being light on the wharf and only fair at stock yards. De- mand is good for top-grade stock, on which values are a shade higher. Quotations today at Light street whart follow: Beef cattle, first qua $ 10 9. Medium, per Ib as to quality, per Ib. as to quality, steers, per lb. quality, per I to Milk cows choice to fancy., per head, 60.00 to $0.00. Common fo fair, 30.00 to 50.06 Calves, veal. choice, per Ib. 13 fo Ordinary to medium, 11 to 12 v. smooth, fat, per head. 20.00 to 25.00. Rough. per head. 15.00 to 15.00. Common thin, per head, 8.00 to 10.00. Sheep. No. 1. per lb. 5 to 6. Ol bucks, 4 to Common. 2 to 2 Lambs, choice, 10 to 11. Fair to zood, 7 to 8 Common. thin. 5 to 6. Hogs, straight. 10 fto 11. Sows. a= to quality, 7 to 9. Stags and boars. 5 to 6. Live pigs. as to size and quality, per 1 to 15. Shoats, as to size and quality. per 1b., 10 to 13. ST GRAIN AND PROVISIONS. CHICAGO, March 12.—Liquidation Ly discouraged local longs in t last fifteen mirutes of responsible for a sharp break wheat prices today, and at the fin the market showed a net % to 312, with Mare and May 1.50z to 1.50%; corn weak- ened and finished 1 to %ale lower, and oats were off !z to %. Provisions ranged from 5 down to 5 higher. The wheat market showed more re- sistance to selling pressure than yes- terday, and, with buying by commis- sion houses and week end evening- up, combined with adlittle change in sentiment, a good rally came shortly after the start and prices ascended sharply. However, the gains were not held and the finish was heavy. Outside trade remained light and the statistical news was somewhat morec bullish. A Department of Agriculture report indicated §5,000,000 bushels of wheat remaining for export in North America March 1, after allowing for normal carry-over into the new crop. The general run of the crop reports was very favorable. Corn prices wera fractionally low er early, but rallied quickly on buy. ing induced by reports of some dam- age by rains in Argentina, where the crop is about ready for harvest. Ger- many was reported to have taken 200,000 bushals of corn at the sea- board overnight. Bad roads in some sections because of rains were said to have hampered country offerings. Oats followed corn, but the under- tone Wwas heavy. Provisions were inclined to be firm, with some selling of lard cred- ited to a packer. The buying was of & good class and the market rallied, but_weakened again at the finish. NEW YORK, March 12.—Flour steady:; spring patents and Kansas stralghts. 5.50a9.25. Wheat, _spot, steady; No. 2 hard, 1.83; No. Mani- toba, 1.91 c.if. track New York; No. 2 mixed duram, 1.73 ci.f. to arrive. orn, spot, rteady; No. 2 yellow, 86: No. 2 white, §632, and No. 2 mixed, ty. per Th. to 7. Bulls, to Cows, 1o Thin Oxen, as 3 per lb. 4 to 6 trading was i 853 c.if. New York ten-day ship- ment. _Oats, spot, steady; No. 1 white, 56. . Fifty years ago the largest salary paid to a railroad official in the Unlted States was $30,000, which was the / amount received by the president &l ) the Reading. =