Evening Star Newspaper, April 24, 1921, Page 26

other employment during the closed | winter season on the canal, had given up their jobs late in March and were | ready for the boating season, when ’lhry were given an eleventh-hour notice of the hitch in the arrange- | ments. They have been waiting ever since for word as to when the canal will open. Matter Up to Navy Board. | The future of the canal is believed ANAL BOATMEN GLANIOR FOR WORK 3 * i _ .to rest with the general board of | the Navy. Secretary Denby is un- Nany Threaten to Desen’lderafiood to have referred to the | | board the question of the desirnhil-‘ lity of continuing canal coal ship- £ Due to Delay in Beginning = 2 | ments to Indian Head No intima- | i_ Operatlons- tion has been given as to when this body will consider the matter. . | " The board, it is understood, will Troubles of the Chesapeake “and | congider the value of the canal from | Ohio canal are still piling up, the |a military standpoint. Its recom- | latest development being the rest- ' mendation will be submitted to the | lessness of boatmen who have been | Secretary of the Navy. who then will awiting since March 28 to inaugu-'decide what the attitude of the Navy | rate the coal-hauling seison. Many |is to be toward the historic water- | of them are threatening to desert w the canal. - Opening of y. |~ The Navy Department has a mine the waterway, sched- | price on coal in West Virginia whick uled for March 28, was postponed | is said to be cheaper than the price when the Navy Department indi- | asked for the Cumberland fuel. The cated it was considering abandoning ! canal freight rate to Indian Head, coal shipments by this route to Im- ['however. is said to be about 64 cents dian F Boatmen, who had found ' a ton cheaper than the rail rate from — ot ”l—— |\ L FURNITURE BARGAINS! j ISEE IF THE PRICES ARE REALLY TRUE! ! We crifice all profits! Costs or former selling prices are not considered in this Disposal Sale! We had but one thought in mind when we planned this sale. Every odd piece and all small quantities must be moved out, and moved at once! With this purpose in mind we set about to SLASH PRICES as they have never been slashed before. And we will admit—in most instances we reduced prices below even cost figures. this store, this is We are not any other store This 9-fiece Qeen Anne Dining-Room Suite, price, . _This Nine-piece- Suite, like cut, is in the popular Queen Annec Period, in Jacobean Oak, and consists of a large 48-inch table with 6-foot extension, and a 48-inch Buffet and Squarc China Cabinet to match; finely constructed. Aiso 6 genuine leather- .seated dining chairs to match. Price....... 5198-00 ove or this Willlam Rogers 26-Piece Silver Set. CASH OR EASY TERMS ‘Three-Piece Dr. Price’s Guaranteed Refrigerator } # i Threecompartment Reirigera- ; for, has three doors, as pictured ahbove; special comnpartments for ; 'the ice and food- . 'stuffs. Special price. 329-75 in price Lift-top atylex r=n from $14.75. See Full 2-inch Continuous Post Bed, 1-inch fillers, Walnut, Mahogany, Porcelain White, Vernis Martin finishes, All-Cotton Mattress and All-Metal Spring. 'price we are asking for the Bed, Spring and Mattress. ! is of all new cotton, with a good grade of fancy ticking. Extra Special—Vnahozany Fin- ixked Foot Stanl 1 ot % Me_xxwell’s// OUR STORE! If you have never visited to become acquainted. any way whatsocver with four p three mirrors, a large room sized double bed. The liney its simplicity and in the popular Adam period. For this week only. With every pur- chase of $100 or 42-Pc. Pinner Set, Additional Values in Post $28. You may take your cheice of either of these 2-inch Post Beds with 1-inch fillers, in any finish that you wish, or the All-Brass Bed with 2—inch post and 1-inch fillers, at this exceptionally iow price. These Beds alone have been selling for the MAXWELL FURNITURE COMPANY 415 Seventh St. N. W. BETWEEN D AND E STREETS / THE SUNDAY : STAR, WASHINGTO! the West Virginia fleld. Despite the freight differential, the Navy,“it is said, can effect a saving of several thousand dollars by buying the West Virginia product. - The question said to be confronting the Navy is whether it shall realize this saving this year and cripple or possibly destroy the canal, which is offering a cheaper freight rate to Indian Head, or continue its support of the canal on the theory that it may not be able to buy coal elsewhere cheaper after this year and that a potential saving in the canal freight rates should be protected for the fu- ture. The Navy is understood to be con- sidering also the fact that the federal government now has an investment in the canal of more than a miilion dollars, which, it is claimed, should | be protected. During the war the government spent about $40,000 to keep the canal in operation for mili- tary reasons, and also built and placed in service on the waterway about $50,000 worth of barges, which still are owned by the government. If the Navy's decision is unfavorable to the canal there will be no business for these boats. it is stated, and they will be put out of commissio: N. Y. RESERVE BANK REPORT NEW YORK, April 23.—The state- ment of conditions of the Federal Re- serve Bank of New York at the close of business, April 22, shows: Total gold reserves, $645.768,041. Total reserve ,740,120. Bills discounted secured by gov- ernment war ogligations: For members,. $357,623,495. All other: For members, $275.034,983. Bills bought in open market, $42,- 084.800. . Total bills on hand, $684,743,280. Total earning assets, $742.884,180. Uncollected items, $114.521,903. Due to_members: Reserve account, $638,883,574. ) Total deposits, $670.652,187. . Federal reserve notes in actual cir- culation, $756.070,630. > Ratio_of total reserves to deposit and federal reserve note liabilities { combined, 53.9 per cent. e —e——— WYLLIE GETS NEW DUTY. Col. Robert E. Wyllie, Coast Ar- tillery Corps, has been relieved from detail to the general staff and from duty at the War Department and or- dered to Honolulu, Hawaii, for duty tin conn on with the coast defenses. a 1one ! before known!! a good time tomorrow. connected in in this city. e 7 7 ‘.4-Piece Mahogany ish Adam $ 1 98;Period Bedroom Suite . . This 4-piece Bedroom Suite is the been offered to vou since before the war. dustproof drawers and large plate glass mirrors: the suite consists of : A large Dresser with a big mirrdr, a Dressing Table with Chiffonier with plate mirror. and a full- re simple, IT'S EASY TO PAY MAXWE r, this beautifuj o four bin, openwork porcelain cupboard cat Outfits Bed Our Page 95 Porcelain-Top Kitchen Cabinet, that are called exclusive by the makers [ 75 TOMORROW AT 8:30 A. M. A CROWD WILL BE WAITING TO SHARE IN THIS FURNITURE SALE! OUR CUSTOMERS MUST BE AMAZED AND DELIGHTED WITH THESE EXTRAORDINARY FURNITURE DEALERS WILL BE DUMBFOUNDED!! THEY WILL COME TO It is important for us to clear out all odd lots, and we do it with a smashing of prices never With the tremendous reductions we have taken, everyone that needs furniture will crowd this store But we will be prepared with extra salespeople and extra halp in every department te maintain usual MAXWELL'S service. in this sale will be subject to cancellation. Come prepared to pay a small deposit—balance monthly. No orders $198 most striking value that has inished in mahogany. with vet is unusually charming of LL'S WAY $30.75 high-priced cabinets, e the tilting the vig glas sugar bin, apace and the large sliding top. big drawers and roomy space. Quite an exeeptional ue in a kitchen cabinet, $39.75. i 2-inch Post 1l-inch Fillers Brass Bed, All-Cotton Mattress and Metal Spring. The spring is all of metal and has a woven wire fabric construction, which is for service and durability. The mattress STEEL STEADIER, Greater Volume of Trade Follows Price Readjustment. Other Metals Reviewed. . NEW YORK, April 23—The read- justment of prices in the steel mar- ket. which has brought the Steel Corporation and the independent companies to a more uinform basis, has “resulted in a steadier feeling and & slight improvement in the volume of business. Consumers con- tinue _conservative, however, and limit purchases to urgent needs, as they believe that probable revisions in freight rates and wage scales may disturb values. Pig iron remains quiet with a spor- adic demand. Prices are about Steady, as offers are moderate, but the undertone continues nerveus. Copper More Active. { . Copper has shown increased activ- ity. notably in the export line, not- withstanding unsettled labor and | political conditions abroad. One sale of about two million pounds for ship- ment to Japan has been definitely mentioned. Generally speaking, the demand for home consumption has been in small lots of from one to | three million pounds, but the pur- | chases of some consumers have been { auite large since the first of the year, i including sales of about 10,000,000 ! pounds to one of the big wire users. ! Sellers remain firm in their views owing to a prospective steady strengthening statistical position as a result of curtailed production. Condition of Other Met Lead has been shaded by indegend- ents to the levels maintaingd by the big producers. the advancé in the London market having no effect here. Tin aedvanced nearly a cent in a quiet market, but the reaction in London imparted an easier tone late in the week. Zinc is active and steady. in cons. {quence of a further advance in St. Louis for prompt and April ship- ment. Consumers have bought freely in the last few days, but find it difficult to secure futures bevond May. Antimony” is nominally unchanged on spots, but lots from a shipment shortly due can be bought for a shade less thin the spot price. SEEKSTOGETVIEWS ONRECLASSIYING U. S. Chamber of Commerce Refers Question to 1,400 Big Organizations. | Referendum on the question of re- { classification of the federal ecivil service is being taken by the Cham- ber of Commerce of the United States, which yesterday sent out to 1400 in- dustrial and commercial organiza- tions a report of the committee on budget and efficiency. Stating _ its conviction subject of reclassification and related problems affecting the civil service are of pressing interest and impor- ! tance, the committee makes the fol- lowing recommendations: 1 Recommendations Urzed. | “The present system, under which i personnel for fhe federal civil serv- ice is secured and managed should ! be recast. “Adequate and uniform pay under i essentially like conditions should be established as a fundamental princi- that the ipie for the federal civil service { through reclassification and regrad- , ing. “Reclassification should be by stat- ute based on investigation already { made and further investigation by the 1 Civi rvice Commission. i~ “Reclassification should be instajlcd { by the Civil Service Commission and ithe budget bureau and current cor- irection made by Congress alded by these agencies. Promotion should be given statu- tory recognition as the preferred method for filling vacaneies, with lines of promotion clearly defined and promotions made upon the basis of i proved merit under civil service resu- lations All administrative officers not re- i sponsible for determininz policies i should be included under civil serv- !ice rules. Regulation of Transfers. i “Transfers betwecen departments | should be regulated by executive orders consistent with the civil service law. “Removal of an employe should be possible upon a written statement of reasons to the employe. with op- | portunity for written reply. but with- { out right of appeal above the head of | the department.” The ballot as sent out is accom- ! panied by the full report of the com- mittee. which supports in detail the recommendations, and gives also ar- guments in the negative. Uniform Pay Plan. With reference to its recommenda- tion tnat adequate and uniform pay under like conditions should be es- tablished, the committee s; Tt is an elementury proposition that a body of employes permeated with a sense {of unjust and inequitable treatment Dy ihe empiover in the primary mat- | ter of just pay for services rendered will be inefficient and _expensive. | Present conditions in _the federal | service as to fixation of salary rates e perpetual incitement of discontent and_ half-hearted effort. and an un- i doubted source of great te of public money This is the thirty-fifth {taken by the chamber on national questions. PLAN ITALIAN WELFARE. |Knights of Columbus Want to Ex- ténd Work There. NEW YORK, April 23.—Plans to ex- tend the peace welfare work of the | Knights of Columbus into Italy were {launched at a meeting of supreme of- {ficers of the organization here today. 1t was announced that the Pope had {personally directed officials of the | Vatican to assist the Knights in a sur- vey of conditions in Italy, where es- tablishment of Catholic centers, under American supervision, is planned for the bentfit of Italian youths. Financ- iing of the project, expected to cost $1.000,000, will be arranged at the in- | ternational convention of the order {at San Francisco in August. NEGROES SHOOT OFFICERS |Four Arrested After Wounding Po- liceman in Liquor Raid. FAYETTEVILLE. N. C., April 23— i Four negroes who were arrested in |this city” charged with shooting and ! seriously wounding Policemen McGill and Bell of the Lumberton police force today when the two officers at- itempted to arrest them on liquor charges are being taken to the wtute prison at Raleigh, for safekeeping. The negroes escaped in an automo- bile after the shooting and were ar- rested by Fayetteville police, who turned them over to a Robeson county posse to take them back to Lumber- ton. When the officers neared Lum- berton with the prisoners they were advised to takee the negroes to Raleigh because of the high feeling aguinst them at Lumberton. referendum important A . | “Efliciency records should be de- veloped by the Civil ‘Service Com- | mission. I trade 1 I D. C, APRIL 24, 1921_PART 1. -FINANCIAYL, EVENTS INDICATE TRADE HAS TURNED THE CORNER BUSINESS GROWS 5..siceee and Fimomoial Trend of Week Shows Gratifying Test of Conditions. Industrials Point to Upward Swing. BY STUART P. WEST. (Copyright, 1921.) Special Correspondence of The Star. NEW YORK. April 23—This week bas seen a pretty good test of the judgment that the general business and financial situation has turned the corner. The stock market, called upon to decide between a dubious and skeptical view and an optimistic view, has decisively shown its preference for the latter. If it were the custom for a security movement to await the actual occurrence of outside changes before acting, this week's rise might seem. in part at least, premature. But it is the function of a security market to anticipate, and the advance of the last few days has been a proc- ess of discounting an improvement which has only barely started in some lines and has still to start in others. A situation where bad news, in the shape of the reduction and pass- ing of dividends and of very poor earnings statements, ceases to af- fect prices, is a very strong one. All past experience teaches that this is a sure sign of the bottom being reached and of the markets getting ready for an upward swing. This characteristic has been repeatedly noticed in the Wal] Street trading of the past month and particularly has it been a feature in the opera- tions this week. Independent steel companies like the Republic and the Jadkawanna have come out with their reports for the first quarter. fhowing barely more than bond in- terest earned—that is. practically no surplus available for dividends on the stocks. Steel Shares Impervious. Yet these reports have found the market for steel shares quite imper- vious. Goodrich Rubber passed the dividend completely where most peo- ple had looked for a reduction mere- ly. and Goodrich stock went up. Rail- way shares have held their ground against the worst possible earnings statements and in face of predictions of recelverships in case permission is not soon given for a lowering of wage scales. While thus on the one hand un- favorable news has ccased to count, the market on the other hand is prompt to seize upon and enthuse over the first sign of an upturn in oil prices and play up to the full re- covery in the motor trade. A price movement which in these ways mag- nifies all that is favorable and minim- izes all that is unfavorable is un- questionably one whose predominat- ing drift is upward. 5 Foreign Trade Factor. The March figures on thegforei trade with their showing o port balance cut in two from the month last year revealed the main cause of the recovery in the ex- changes. But besides cutting down their excess purchases over sales by half, the countries of the world have chipped to the United States so far (bis vear the enormous sum of $200.- 000,000 in gold. These gold transfers hecame necessary when the American banks shut down upon any further extension of credit abroad as one of the most vital measures for promot- ing deflation. How much farther the gold move- ment will be carried depends upon whether the violent curtailing of for- eign purchases shown by the March trade statement is to be a continuing feature. If the balance of exports over imports keeps on at the greatly reduced total of last month it should be pretty well offset by invisible credits in the form of ocean-carrying charges and American tourist ex- penditures, without gold shipments being necessary to make up a de- | ficiency. Gold Infiation Talk. For this reason the talk about a “gold inflation” is quite premature.. But the addition even of $200.000.000 to this country’s gold supply must ultimately tell upon money rates, as it has upon bank reserves. Likewise, it is a factor to consider in any in- vestment forecast because of the close relation between the course of inter- est rates and the course of bond prices. The railway problem is the most formidable remaining influence of re- straint in the financial situation. Ome ®y one individual industries are rounding the turn and starting ahead. Cotton and woolen manufacturers were the first. then came dry goods and the retail trade generally, then motor and tire making, finally this week, oil. Prospects for Copper. Next in all likelihood will be copper, where at the present rate of output, as compared with consumption, an ad- vance in prices and a more active de- mand are bound to come at no distant date. The steel trade was the last to go through its adjustment; it will logically be the last to recover. But the recovery will be greatly helped by a satisfactory settlement of rail- way rates and wages and will be held up if the settlement is not satisfac- tory. The gravity of the rail problem and the fact that its importance to the business welfare of the nation is rec- ognized gn all sides is the best guar- antee t it will be soived along lines of ‘reason and common sense. And the reasonable solution beyond a doubt is a compromise which will scale down wages in keeping with the reduction that has occurred in the cost of living, while revising down- ward rate schedules which are now so oppressive. Rate revision, it has come to be secn, promises far more in the way of relief to the farmers than any amount of tariff legislation. European Outlook. In the latest figures of France's for- eign commerce is to be witnessed an- other instance of how Europe is get- ting on Its feet even while the criti- cal question of German reparations remains to be disposed of and while plans for extending American credit have not yet been worked ouyt. At the close of last vear Great Britain was able to show en excess of imports over exports 5o small that a net credit figuring in all offsets—of some $1,000, 000,000 was the estimated result. Within the last few months France has followed the same path by so curtailing its outside purchases that tor che first time in its recent history ,it has a balance in favor of the ex- port side. If we add to this testimony the remarkable recovery during the last month in the Italian exchange, we have a very convincing combina- tion to show how the economic situa- tion abroad is on the mend. SCIENTIST PREDI CTS SUN ENERGY WILL BECOME SUBSTITUTE FOR FUEL CHICAGO, April —Sun energy may be changed some day into a sub- #titute fer coal and other fuels, ac- sording_to Dr. J. Howard Mathews of e University of Wisconsin. This statement he made last might hefore the Chicago section of the American Chemical Society, in the last 5f a_ series of lectures on photo- chemistry delivered before the vari- sus sections of the. society. ‘With constantly diminishing re- serves of fuel” said Dr. Mathews. “the question of the utilization of the radiant energf from the sun be- comes more and more of a live ques- tion. What will the world do when fuel is gone? Such a possibility is. 1t least geologically speakingz. a mestion of the almost immediate future. Hundreds of millions of horse-power of enerzy are coming -ontinuously from the sun. How can this energy be stored up and transformed into a useful form of force? The optimistic photo-chemist selieves that it can be employed to bring about certain chemical reac- tions, which, by their reversal, will again liberate it, preferably in the form of electricity. The dream is no more chimerical than was that vision of a hundred years ago, in which elec- tricity was conceived stored and utilized.” Dr. Mathews remarked that the farmer was a practical photo-chem- jist. and the growing of crops the | greatest of all photo-chemical reac- | tions. With the aid of that mysteri- {ous substance, chlorophyll, which { imparts the green color to the leaves, the agriculturist calls op the sun to | combine water and carbonic acid gas to form the starches and sugars of plants. Chlorophyll unites various elements which make up vegetation and is therefore a catalyst, that is. a substance which promotes or retards chemical reaction between other ma- terlals witout being itself affected “Nature.” continued Dr. Mathews, ‘does not always work in the most | eflicient manner, and man has im- proved on natural processes, as he 1has redirected them to better serve i his end. What a boon to mankind it | would be if the photo-chemist could ! discover some catalyst which would | enable this reaction of water and | carbon dioxide to form a carbol drate—tre reaction to be carried in the laboratory and the manufactu ing plant.” Dr. Mathews cencluded that the task of the photo-chemists is to study all possible types of reactions produced by all kinds of radiation. By that means they may gain more thorough knowledge of the laws and principles involved. with a view of making in| the future many important and prac- tical applications. BALTIMORE PRODUCE. BALTIMORE, Md., April cial).—Virginia strawberries made their first appearance on the market this week, and being of fair quality met with ready sale. The Norfolk variety is selling at 20 to 35 cents a quart, while those from the eastern shore of Virginia are of more fancy stock, and are bringing 35 to 40 cents. | Under a 300d demand for fancy. the market is holding steady. cral apple market is quiet with de- mand centered on the better grades. with supplies on hand ample for all wants at $3 to $6 a barrel Loose. unpacked stock neglected at 1.00 to 1.30 per 100 pounds. The old potats market shows a de- cline, since there is no special life to the wholesale demand, and new potatoes, at their cheapening cost,are beginning to attract more attentién. No. 1 old stock of all sections is uoted at 90 1o 1.00 per 100 pounds, with the exception of McCormicks, hich bring but 75 to 90 cents, with 0. 2 quality slow sale at 40 to 50 cents. New potatoes are selling from $2 to $6.50 per barrel. Marylaud and Virginia asparagus coming in more frecly and tendency of market i3 lower, with quotations today ranging from $2 to $4. Native and nearby radishes and spring_onions. in good demand at 2.50 to $4 per 100 for the former, and 50 to 75 cents for the latter. Kale and_spinach holding up_well at 20 to 60 cents a bushel. Norfolk cab- bage also holding well at $1.50 to $1.75 per barrel or crate. Lettuce will bring $1.50 to $2 a bushel. with a premium on fancy, well headed stock. Under a slow demand and ample receipts the market for old onions is a shade lower. $1.25 and $1.50 per 100 pounds. being quotations today for both white and yellow. The local egg market is steady, and. with a fair demand for the offerings from day to day and no excessive receipts, the market advanced a cent this week, 26 cents a dozen being top price for strictly fresh nearby stock. The market is uncertain at this time of the year, hence prompt and fre- quent shipments are advisable. Receipts of live chickens. such as springers and winters. continue light, and under a good demand there is a scarcity of such stock on the market today. Springers weighing 1 to 11 pounds each find ready sale at 60 to 70 cents a pound, while those under a po sell at 55 to 60 cents, but rough. poor and staggy fowl are slow at 30 to 35 cents. Winter birds, 2% pounds, bring 50 and 55 cents. Receipts of old hens more than ample for all demands and the mar- ket rules. lower, 28 to 30 cents a pound being quotations today. SR o R Thirty-five years ago there were only 125 mills in Japan. Now there are more than 25,000 modern factories jmploying 2,000,000 workers, 23 (Spe- i The gen- | COTTON MARKET ACTIVE. NEW YORK, April 23.—Reflecting jan improved sentiment in connection | with reparations and the British | miners’ strike, the cotton market to- day was quite active and generally . stronger. The opening showed an ad- | vance of 1 to 6 points, and in subse- {quent dealings the market sold 20 to! 26 points above the previous night | May Jed the upturn with au advance to 12.06, based on large covering or- | | ders by Wall street houses. July sold |as high as . October. 13.34, and | December. 13.80. and while some of {the improvement was subsequently {lost under profit-taking in the final {hour. the market nevertheless closed very steady at a net advance of 11 to 18 points. Domestic trade reports for the week were better. Sales of print cloths at Fall River for the week were 95,000 pieces. while curtailment, owing to a holiday last- Tuesday amounted to fully 150,000 pieces. NEW ORLEANS, April 23.—The higher trend of prices in the cotton market today was mainly due to dis- patches from England indicating that there was a good chance of settling the coal strike this coming week. al- though the continued wet weather in the eastern half of the cotton region and claims of a better spot demand in the markets of Texas contributed to the steadiness. Late in the day prices were 17 to 19 points up, with May at 1177 and July at 12.27. The close showed gains of 10 to 12 points. MAY PAY 25 CENTS ON $1. Leslie-Judge Company Prepares to Settle With Creditors. YORK. April 23.—A schedule liabilities of $1.542,758 and assets of $583.6M was filed in federal court here today by attorneys for the Leslie-Judge Company. publishers, for which a receiver was recently named. Saul S. Myers, counsel for the cevers and many of the creditors, in- formed the court he understood the company was preparing a settlement with creditors on the basis of 25 cents on a dollar. A meeting of creditors. he said, would be held within a few days to consider the proposi: 3 GALE THREATENS “STRIKE.” LAREDO, Tex.. April 23.—Linn A. E. Gale, wanted on charges of being a draft evader and of violation of the espionage law. who was turned over| to military authorities at Fort Mec-| Intosh last night after deportation from Mexico. declared today President Obregon had no right to turn him over to the United States and that if| he is imprisoned he will go on hunger strike. TREND OF MARKET - FOUND IRREGULAR Stocks More Than Ordinarily - Susceptible to Conflicting Influences. NEW YORK, April 23.—The stock arket this week was more than rdinarily susceptible to conflicting .influences. This was seen in the ac- tivity and strength of a few indus- trials and speciaities and the heavi- ness frequently manifested by rails, Steels and other issues of less definite decription. Much of the favorable sentiment created in the previous week by the decision of the Railroad Labor Board to cancel wage agreements seemed to have been dispelled, while steels and the various railway equipments shares were under the cloud of fur- ther trade depression. Collectively. oils far out-distanced all other issues of the week. Ac- cording to popular opinion, however, the movement in that quarter might #mve carried greater conviction and force had the junior or speculative shares been less prominent. Signs of Easler Tread. There were occasional signs of an easier or relaxed trend in the money market. but the first indications of @ substantial demand for funds re- stored the demand loan rate to recent high quotations. The attitude of the local federal reserve bank was not in line with the New England branch, Which in the previous week reduced its rediscounts from 7 to 6 per cent. Economic developments at home were viewed with greater encourage- yment, especially in their relation to labor conditions. Bankers with in- fluential London connections inti- mated that a settlement of British industrial disturbances would pave the way to a lowering of the British bank rate. In other well informed international quarters, however, such action was regarded as highly im- probable until the whole question of German indemnities and reparations assumes a more definite stage. Investment Money Plentiful. The success attending the flotation of the new Goodyear Tire and Rubber securities was accepted by financial interests as proof that large amounts of investment money are seeking new channels of outlet. This belief is likely to be put to a sévers test in the proposed offeringof new Burlington and Quincy raliroad re- funding bonds. LIVE STOCK MARKETS. BALTIMORE, April 23 (Special)— The live cattle market rules firm and fairly active, with receipts of to grade stocks only moderate at the wharves and stockyards. Demsnd g0od for all cattle of desirable quale ity. Quotations today at Light street wharf. Beef cattle—First quality, per b, 8 to 9; medium, per 1b, 6 to 7. Bulls, 2s to quality, per Ib, 4 t0 6. Cows, as to quality, per Ib, § to 7. Thin steers, per 1b., 4 to 5. quality, per 1b., 4 to 6. Milk cows—Choice to fanmcy, per head. 60,00 to §0.00: common te fair, per head, 30.00 to 50.00. Calves, veal, choice, per.lb.. 10 to 10%. Ordinary to medium, per 1b, 7 to 9; heavy, smooth, fat, per head, 15.00 to 15.00. Rough, per head, 10.00 to 12.00. Common thin, per head, 6.00 to 5.00. Sheep—No. 1, per Ib, 5 to §; oid bucks. per Ib., 4 to 5: common, per Ib., 2 to 3. Lambs, fali. choice,’ per lb.. 9 to 10; fair to good, per Ib., 7 to ¥; common thin, per 1b.. 5 to 6: Spring, 35 to 40 Ibs. per Tb. 13 to 14. Hogs—Straight, per 1b., 10 to 11: sows, as to quality, per Ib, 7.to 9. Stags and boars, per Ib., 5 to 6. Live pigs, as to size and quality, per 2 to 15. Shoats. as to size and qua ity. per ib, 10 to 15. CHICAGO, April _23.—Cattle—Re- ceipts, 500: compared with waek ago. heavy beef steers and butcher she stock, steady; bulls, 25 to 50 higher: bolognas up most; veal calves, 0 higher: spais up more, stockers and feeders. 25 to 50 lower, heavy feeders off inost. Hogs—Receipts, 3.000 head; 15 to higher than yesterday's average: pigs, steady; bulk of sales, 5.00a8.50; top. 8.60; heavy weights, 8.00a8.35; medium Oxen, as to weights, §.25a8.50; light weights, 8.30a8.60. heavy packing sows. smooth. 6.85a7.65; rought, 6.5026.85; uigs. 7.3 ‘Sheep—Receipts. 7,000 head: receipts today most to packers direct. Com- pared with week ago. lambs mostly, 0 to 70 higher. Sheep and vearlings. 0 higher: feeder lambs. nom- April 23 —Cattle re- no trading. Ualves. re- easier. Veals. 8.00a 50 head Unshorn lambs. §.50a12.50; : unshorn sheep clipped do., 4.00a irregular. clipped do. (ewes), 4.50a7.00; 6.50. Hogs—Receipts. 2.730 head: stead Pigs. light and medium weights, 9. heavy hogs. 5.0029.00; roughs, 6.50a7.00. R AIN AND PROVISIONS. CHICAGO, April 23.—Moving within narrow limits, today’'s short-session grain market was unmarked by im- portant developments and wound un about where it started. A strong undertone in corn and an advance in provisions furnished the only out- stahding feature of a dull day. The wheat pit was unsettled. but futures in that grain averaged high- er. and May was active enough to gain an additional 4 cents spread over the July option This hap- pened despite sheavy selling o® May v a Chicago elevator interest which was transferring its holdings to July. Tais selling served to balance soms rather persistent buying of the near ioption by commission houses and some northwest elevator interests. imilarly. the local buying of July was offset by pressure on that month from eastern houses. This latter phase of the market was ascribed to decreased export demand. trade ad- vieces saying that Germany and I which had been good buvers rece: ly. had cabled refusal of latest of- fers. At the close wheat was unchanged to a fraction higher, with May at 1.30 to 1.303%, and July at 1.07%a 1.073%. Corn showed about 7 cents above the low mark of the last week. There was Some rather persistent buying. with sales to the seaboard on demand of exporters for cash grades. May Cclosed at 61% to 61%: July, at 63%, and September, at 66 to 63%, the net gains ranging from % to %. Lo- cal cash_sales totaled 214,000, of which 145,000 bushels were export. Weather and crop reports created some bearish talk among oat traders but the dealings were limited and the prices were not appreciably af- fected. At the close oats were i higher to % lower, with May ac 33% to 3814a38%. July at 39%a39ly and September 39%a39%. Pork, lard and ribs all scored ad- vances. Packers' representatives were buying provisions, and there -was a lift in the market for live hogs. No appreciable attempt was made to sfem the advance and all provisions closed strong, W YORK, April Firm; spring patents, Kansas straights, 7.25a . Wheat—Spot firm: No. 2 red, 1.59: No. 2 hard, 1.61; No. 1 Manitoba, 1.80, and No. * mixed durum, 155 c.if. track New York. {"Corn—spot firm; No. 2 vellow and No. 2 white, £43%_ and No. 2 mixed, $3% c.i.f. New York ten-day ship- ment. 5 Oats—Spot firm; No. 1 white, 523%. 23.—Flour— 7.25a8.25; Miss A. Viola Smith, who has been apointed secretary of the American commercial attache in Peking. is szil to be the first woman to hold an of- ficial in the foreign trade service of the United States. A t L —