Evening Star Newspaper, June 11, 1921, Page 17

- IMPORTS FALL OFF 4 But a Favorable Balance of " $122,000,000 Is Shown, Says Report. Both exports and Imports continued . 15 fall off,in. May, but the month's . trading Tresulted in a favorable balance . ®of $122,000.000 for the United States, figgres made public today by the De- partment of Commerce showed. Exports for May totaled $330,000,000 | __as against $340,000,000 in April and ~= $746,000,000 in May, 1926, while imports ~~ for the month were $208,000,000 as com- . pared with $256,000,000 in April and < $431,000,000 in May. the year before. - " For the eleven months ended with = May exports totaled $6.180,000,000 as ~% against $7.480,000,000 for the correspond- ing months of 1920, while imports ag- sregated $3.472,000,000 as compared with $1,636,000,000. Gold and Silver. Gold exports for the month totaled $1.062.521, as compared with $3S3. 787 in April and 7,561,683 in Ma: 20. while imports of gold were $58, .918, as against §82,236,175 pril and $15,687,859 in May, thi 5 last ar. G514 exporta for the eleven months ended with May totaled $132,764,299, compared with $481,100,731 during the same months last year, while impcrts amounted to $602,817,925, against $123.775,217. Silver exports for May totaled $: 2,609, compared with $6.862,130 in 7, 1920; and imports were $6.956, as against $5,082,895 in May a r ago. Silver ~ exports for the eleven months’ period ag; ted $51,112,161, as compared with $174,621,646 in the {same period last vear, while imports were $55.805,259, as against $96,337,- 233 for the efevén months ended May, = BONDS LESS HEAVY, PRICES NO BETTER NEW YORK, June 11.—There was ___*not the same amount of heaviness in the bond market today that there was <§ vesterday. Still prices did not im- . Drove. The greater part of the trans- = actions ogcurred at virtually the same S figures as were recorded at yester- day’s close. Victory 4%s and liberty second 4% s were unchanged. the third 4%4s were up a bit, while the fourth _—~4%4s were a trifle Jower. Liberty 31s Z7 were higher. but did not equal the top of their recovery made yester- a nited Kingdom 518 of 1937 were active and stronger. They had sold as low as 83% yesterday and reached 8§4% today. French 8s were a frac- tion lower at 97%, while Belgian T3%s were a bit higher at 98%, and so were Dariish 8s at 99%. Litfle Change in Industrials. Industrial bonds were for the most part unchanged. Rubber 7%s at 98, Goodyear $s at 99, Westinghouse 78 at 951 and American Smelting 53 at 76%, were all the same as they were at last night's close. Cerro de Pasco 8s were an exception, losing a half point. . _ Among the rails Kansas City Southern 5s, which had come down yesterday from 74% to 73. continued to be supplied at the latter figure. Reading 45 made a new low again at 72%, and 8o did Rock Island ref. 4s at 64%. WORLD TRADE CONDITIONS STILL REMAIN DOUBTFUL Review for May Shows No Imme- diate General Business Revival : Economic conditions of the world during May pointed to no fmmediate general business revival, according . to the monthly summary from its “foreign repsesentatives issued yes- + terday by the Department of Com- merce. Considerable financial improvement was noted in Europe, but trade and shipping were dull, with marked in- dustrial difficulties apparent in some countries. In South America the sit- uation was declared practically un- changed, but with a less confident tone to future prospects. .- While money is easier in Great Brit- . ain, the coal strike has caused a gen- eral stagnation of trade and industry, the London report declared. The in- dustrial situation, however, has prob- ably never been worse, with more ~ than two million persons idle and all o~ industries not shut down operating '« on part time. 7 _The French government appears sat- isfied with the success of the $100,- 000,000 loan floated in the United States, and feels it will permit pay- ment of debts previously contracted in this country. Evidences of a re- vival in_ Belgian industries affected by the British coal strike were re- ported from Brussels. The financial situation appears to be improving in Germany, the Berlin report declared. e s OIL MARKET. Quotations furnished by W. B. Hibbs & Co. 1t 921, Bid. Asked. Anglo-American Ol Co. (new).. 13% 16 Borne-Scrymser_Co - x0T Ruckeve Pipe Line C s 73 Cheseborough Manufa: 170 180 Continental 0il_Co. 105 Crescent Pipe Line 29 ¢ Cumberland Pipe Line. 15 © Eureka Pipe Line....... 80 Galena-Signal Oil Co. com.. 35 Calena-Signal OIl Co. pfd. 03 1 Tinois Pipe Line Co. 158 ! tudiana Pipe Line Co. 72 Nutional Transit Co. a5 . New York Transporta 130 ¢ Northern Pipe Line Co.. 92 Ohio_0il Co. 248 Prairie il and Gas Co. 10 ! Prairie Pipe Line Co.. 160 165 Pennsylvania-Mexiean' Fuel .... 22 25 Soiar Refining Co. L Southern Pipe Line 0il 178 57 & 3 400 . Standard 0il Co. Nebraska 130 140 Standard Oil, Co. New 307 Standard Ofl’ Co. Ohio.. 380 Swan & Finch Oo. © , Tacuum On Co. 265 f Washington 0il Co. 30 CROP OUTLOOK NEARBY. The June 4 crop outlook compiled bty the American Steel and Wire Com- pany, which maintains correspondents ditions in Maryland. Delaware, ‘ ginia and West Virginia as fair to good. Pastures, hay and clover in all these states, except Virginia, are re- ported as good; corn is good and on except in Virginia and West Virginia, where the crop is excellent. Potatoes jhroughout the whole . section are oking fine and the acreage is larger. Cnly about one-fifth of the usual crop of tomatoes will be planted this year n Maryland and Delaware, the report . and only about half the can- 1eries are expecting to operate. B. & 0. DIVISIONS MERGED. June » River heeling and Ohio 1y s an- tuken as a program foi divisional the company’s CACQMY. e of the offices at Parkers- burg, W. Va., will be cut and divis- nal afaere medneed tu wank. B MAY EXPORTS AND [rw an increased acreage; oats only fair, | United States-Steel 8. F. 7s 1938. i § y i Pa9EaREIaR303935 RRgg e pnunegFenngunnynsy g 8 3 Allied Chemical. Allied Chem pf. Allls Chalmers. Am Agr Chem. Am Agr Chem pf, Am Bank Note. Am Beet Sugar. Am Bosch........ Am Brake Shoe pf. i;llg:llfllg* g A L FLERL L LEFTRPH TRFLH PLE R U Atlantic Cst Lin Atlantic Gulf.. 538380 gREngage. pngazlennnyenuzeg g Atlantic Gulf pf. S Atlantic Petroleunr 14% Atlantic Ref pf. 106 105 Austin Nichols 8% Baldwin Loco. .. % Balto & Ohio. . 37 Beth Steel (B). 1% Beth Steel 8% pf. .. 100% 9% 10% % 4% 1% 12 2% 12% a% © California Pet pf. T2 71 Canadian Pacific. 110% 110% 110% Central Leather. 6% 6% 367 Central Leath pf. % % % Cerro de Pasco. 2% B% 28% Chandler Motor. 9% 68% B69% Ches & Ohlo. . % 5% B8U Chi Great W pf 17 ” 17 Chi Mil & St P, 5% H% W% Chi Mil & St P pf. 3% 384 3% Chi & Northwn. & 6% 63% Chi RI& Pacific. 31 0% Chile Copper. % F3893:35F % R 05 Cont Insurance. 6% 2& Corn Products. “ Cosden & Co. 8% 2% Crucible Steel. 60% 60% 57% Cuban-Am Sugar.. 16% 16% 16% Cuba Cane fugar.. I1% 1% 10% 10% Cuba Cane Supf... 35% 3% 2% 324 Del Lack & Wstn.. 224 24 120% :20% Denv & Rio Gr. T % % % Denv & Rlo G pf. 1% % 1% 1% Dome Mines...... 17 1% 17 u Elk HornCoal.... 20% 0% 204 20% Emerson-Brant. 7 7 7 7 Endil!-*‘lhnlon. 6 61% 60% 61 Erie... 1% 2% 2% 1% 18% 18% 8% 18% FamousPlayers.. 64 6 6, & Famous Playerspf 80 80 8 . 80 Fed Mines& Spf.. 23 = = = Fisk Rubber. 12% 12% 12% 13% Freeport Tex: 1% 13% 1% 13% Gaston Willlams.. 14 1% 16 1% 5 B5% B3% B4 88 88 88 88 127 128 126% % M . 9% n n 71 2% 3% 3% Granby Consol.... 20%~ 20 20% 20% Great Northernpf. 65 66% 5% 66 Great Nor Ore. o ZH 2% 2% Gulf Mo & N'ptf. 2% A% 2% A% Houston Oil. 61% &% 6% €% Hupp Motors. % 1% 1% 1% Illinois Central 88 = Inspiration. .. 8% BY Interboro Metro. 3% 3% K 3% Interboro Metpf.. 10 10% 10 10% IntlAgrChem.... 7 7 L Intl Haryester. 85 86 85 85 Intl Harvester pf.. 1024 102% 102% 102% Intl Mer Marine pf 50% 50% 50 0 InttMotor Truck.. 31 381 31 a1 Intl Truck 2d pf. ) [ & 5 Ni 15 W% W% 56 5% &5 W T Invincible Oil u 13% 13% Iron Products % 25 2 % 1sland Oil. 3% 3% 3% 3% Jewel Tea. - TR O T% TR TR Kansas City Sou.. 28% 3% 531 23% KansasCSoupf.. 50% 6% 50% 50% Kelly-Spring Tire. 36 3% 36 3% Kelly-Spr 8% pf ki3 il k3 % 20% 220% 1% 19% 2% 2% 0% L% 1 40 O 0 40 5% Bl% 5% Sl Lake Erie & W. 12% 12% 1244 1236 LakeErie & Wpf. 19% 19% 19% 19% P Mexican Pete. Miami{ Coppe: 2 Middle States Oil.. 11% 11% Midvale Steel. 4% u% 24 2% 19% 20 8% 8% 9% o% 18 13 19% 19% 18% 19% 51% B1% N L] 8 4% 4% Ne 0% 10% [ ] % 0% E ) 1% 1% 16% 16% =% Bn% Norfolk & Westrn. 98 s Northern Pacific. (4 « Nova Scotia Steel.. 25 % Oklahoma Prod.., 2 2 Otis Elevator..... 41 11 Otis Steel. . eses 0% 104 Owens Bottle. 2 Pac Gas & Elec. 5L Pacific Oil... 36 37% Pan-Am Pete 61% 1% Pan-Am Pete (B). 4% 8 Pennsylvania. . u% Perin Seabd Steel.. 8% 8% People’s Gas. . 7% 48 1 Pere Marquette. 2% Pere Mrq prior pi 52 Phila Company . 0% Plerce-Arrow. 19% Plerce-Arrow pf. “ Plerce Oil. . .. 8% Plerce Oil pf. % Pitts Coal. .. 57% Pitts & W Va. % Pitts & W Vapf... 7% 7% Pressed Steel Car. 76% 6% Pullman Co.. 96 9% 2% ki) 81 12% o Remingto: 'l?y! % 1w ington Type.. 18% 18 Replogle Steel. z % Rep Iron & Bteel.. 4 Rep Motor Truck.. 14 Royal Dutch...... §5% g: :‘ org‘hnum .1 Fran... 2% St Louis Southwn. Sazon Motors. Seaboard Air Line. Seaboard A L pf... Sears Roebuck Seneca Copper. Shell Trad & Tran. Sinclair Ofl. ... So Porto Rico Sug. Southern Pacific. . Southern Railway. Southern Ry pf. IR LD S Stand Oilof N J. 136% 106% = =% % 6% 5% Ll 8 % 20% Texas & PC&Oll. 2% 2% Tobacco Prod. 54 B% Trans Contl Oil. 8 3% 20 .o 1% 15% Union Pacificpf... 6% 6i% United Alloy Steel. 23 £ United Drug...... 8% 8% . 39% 3% L1051 United Retail Strs. 6% '::2 U S Food Prod. 18% 19% U S Indus Alcohol. 60% 60} U S Realty. 46U 6% U 8 Rubber. 56 56% US Rubber 1st pf. 9 % USSteel..... . 6% T Utah Copper. . 9% 50 Vanadium Corp... 21% 21% Va-Car Chem. . 2 2% Va-Car Chem pf... 6 7 Vivadou... il Wabash.. % Wabash pf A, 20% ‘Webber & Heilb: 2% Western Md. % Western Md 2d. 7 S FPTSLLIETY) YORK STOCK EXCHANGE. Received by Private Wire Direct to The Star Office. lose. % 1n 0% L] 6 4% 2% 3% 130% 21 1% 2 b EL UL a2 33 3ygtaeeny 6% 1 . 6% 8% 26% 803 12% 6% © 18% 2% 8% i 52% 1 2% 2% % 6 9 % 1% 2% 8% “© % 19% 46 125 106% 2% nK 0% 6% 5% 2 8 =n% 20% 2% % 8 35 19% 5% 6% 2 8% Gk 107% 5% 19% 69% | 46% ¢ 56% 9 6% 49% 21% 2T 5 % % TODAY’S BOND PRICES. Neon prices reported to The Star over direct New York-Washington wire by Bedmond & O0. City of Paris 6s 1921 ”» French Government 8. 28 Government of Switzertand 8. 103% Kingdom of Belgium 7%s.. 8% U. K. 6 G. B. and Ireland 5%s 1921... 9% U. K. of G. B. ang Ireland 5%s 1922... 97% K. of G, nd Ireland 5i3s 1929... 87% U. K. of G. B. and Ireland 5lis, 1937. Bily conv. Ba........ 9% Tel. Atlantic Refining Co.. 6%s 91 Baitimore and Ohio conv. 414s. Raltimore and Gs. Bal Ohio incy jt. 4x.. ot Tl reti, 4. and St. Paul conv. 414s. ern 78 Chi., Mil. Chi., Mil. Chicago N Goodyes: Grand Trunk 7s Ret.. Ilinols Central 53%s. International Mercantile Marine 6s. Inter. Rapid Transit 1st and ref. 5s.. Lousville and Nashville 7s 1930. Tex. 1st rfolk and Western conv. 4s. 74% Norfolk and Western coav. 8s. o Northern Pacific 4s. =0 735 Packard Motor Car Co. 8s 1831. 4K 5s 1968.. 961, 101% Bh 724 5o Pl 5oL . 1% thern Pacific 1st ref. 3% mum cific. conv. 4s. ' Vir- | South United States Rubber 7 Vacuum 0il Corp. Virginia-Carolina Chemical Wilson & Co. 1st 6s. RECEIVER FOR BAY STATE. ‘BOSTON, June 11.—Federal Judge Anderson ordered the appointment of Daniel A, Shea, former assistant Unit- ed States attorney, as receiver for 'the Bay State Refining Company . of this city and Tulsa, Okla. The action was_taken on petition of the Ritér- Conly Company of Pittsburgh, hold- ing promissery notes aggregating $15.000. The petition sets the com- pani’s assets as $65, and labili- 650, tias exclusi of deferred dividends |Atheps on Mgrrid'.gl'pek at $476.000. ienna’ STOCKS LOWEST IN YEAR OR MORE Records Made by Leading Issues—Week’s Clos- _ing Is Heavy. BY STUART P. WEST. NEW YORK, June 11.—This morn- ing’s stock market was much the same sort as that of previous days. A series of further sharp breaks oc- curred in special issues, without, how- ever, upsetting the general run.of other stocks. While selling was going on in thesd specialties short covering and a moderate amount of real buy- ing was taking place in others. This gave the' price movement a very irregular appearance, with an|¢ oo impression of considerable strength in certain groups of stocks and an impression of uncompleted liquida- tion in others. ‘The news of the day was generally unfavorable. The Cities Service Com- pany added its name to the lengthen- ing list of concerns taking adverse dividend action and the substitution of scrip for cash dividends was ex- plained on the ground of the *de- moralization” in the ofl industry. Dividend Action a Factor. This put a severe strain upon the shares of other companies in the same line of business, notably Gen- eral Asphalt, Mexican Petroleum and Pan-American. | _The Chandler Motor was the l-test of the automobile manufacturers to announce a cut in prices, but this had been pretty well discounted, as it turned out, in the market for the motor shares. The widely published statement that there was enough sugar on hand in the country to care for all de- mands for the rest of the year with- out any fresh purchases from Cuba or other of the outside markets led to fresh weakness in American Sugar and most of the other members of the group. Corn Products, American Sumatra, International Paper and At- iantic Gulf were others that devel- oped special weakness. Some Stromg Resistance. On the other hand, Studebaker, the coppers, American Wool. American Tobacco, California Petroleum and Texas Company were among those which offered strong resistance to the selling movement. Sterling went lower again. The May features for the foreign trade turned out a repetition of the April results. Imports of $208,000,- 000 were less than half those of a year ago. while the export total of $330,000,000, compared with $745,000,- 000 in May, 1920. The credit balance of $122,000,000 is again pretty well offset by the $58, 000,000 import gold received during the month, thus showing that the trade movement has had nothing to do with the recent fall in the ex- change. a NOTES. The break in California Petroleum preferred, which came yesterday, was reported to have been taken advan- tage of by inside interests and the 1,200 shares of stock which were sold at a loss of five points between sales will, ultimately, find its way into the treasury of the company. The selling could have been based on no other reasoning than that holders needed the funds to enable them to hang on to other stocks, which stand them a severe loss. There ' were further reports today throughout the financial district that Dbig financial interests haq come to look upon the stock market as at or very close to its bottom. It was sald here several days ago that cer- sain banking people had been advis- ing their friends to buy stocks and today it was learned that a time limit for a sudden change in the market had been set by these big interests. —_—— CURB STOCKS. Quotations furnished by W. B. Hibbs & Co. ~12:15 p.m.~ Bid. Aetna Explosives 1y Allied Ol ... 4 American_Candy " Atlantic Petroleum . White Motor. ib Sendicat 8% Pz | 2 ys-Overlan ™ % 73 | Car Light 2 Willys-Ovidpf.... 3¢ 84 84 4 ":?{{!:: e e o 15 Woolworth % 10 Citles Rervice pfd 2 Worthingto: s 4% 4% | Colonial Tire .. 5 2 Columbian_Emeral % 1 Columbia Syndicate 2% 3L Commonwealth Finance Corp... 37 41 Consolidated Copper 1% 1% Gommoliaated! w1 i i % % SHORTTERM SECURITIES. = (Beported by Betmoad & Co.) 115 1 1% Ameriean. Tel. and Tel. 6s 1922. 96% & k] American Tei. wad. 1oL, o8 1034 3L e American Thread Co. s 1 25 & S American Tobaeco Co. 78 1921. EL I Co. s 1922, 7 10 e g Anglo-American 0fl 7 PR B: Armour & Co. s 1 3 S Bethlehem Steel 7s 1923 2 13 g 23 3% 1 3 13 2% 8 EJ # 3 317 138 - B 2 E A ua-xu ‘7' # 4 P sall Creek Produs e 8ait Creek (n o i gz 2 2% 23 24 .4 718 201 LIBERTY BOND CLOSING PRICES.|D xz 1 NEW YORK, June 11.—Liberty %A bonds closed: 33s, 88.82; first 4s, | B Steamed ‘K kg 87.80 bid; second 4s, 86.80 bid; first | United Texas - e % 4%s, 87.96; second 4%s, 86.94; third | Wartes Bioe- % % 43s, 91.54; fourth 4%s, 87.12; victory d1s ) 3%s, 98.40; victory 4%s, 98.40. —_— e FOREIGN BONDS. 39 31% | Quotations furnished by W. B. Hibbs & Co. . 13% fi% i aBBlage g FOREIGN EXCHANGE. Selling checks—Dollar valves at noon today: TLondon Paris Zorich 393 1384 170" nas Avbura Automobile, Auburn Auta. pf., 4., $L75. Crp. 317, N 7 12 12! B B 48 48 T g’,.. 88 43 4% a. $1. T g NEW YORK BANK STATEMENT. NEW YORK, June 11.—The actual condition of clearing house banks and trust’ companies for the week shows that they. hold $48,2: 420 rese; An 321 excess of legal -requirements. T 25 | fa o Increase ot 335,191,830 Trom last sou, week:. ' & | provement was not __THE EVENING STAR, WASHINGTON, D. ©, SATURDAY, JUNE 11, 1921—PART 2. Grain, Produce and Live Stock|" LOCAL WHOLESALE MARKET. Egga—Strictly fresh, per doz, 27; southern, 26. - Potatoes—White No. 1, per 100 Ibs., . . |80875: cobblers, 50a75; McCormicks, Live poultry—Roosters, per Ib. 13; |56 No. 2, 25; mew potatoes, per | turkeys, per 1b., 32a35; chickens, g‘n‘;'-'r‘el.o 1.50a3.75; sweets, per barrel, spring, per 1b., 50a55; hens, per Ib., 30; keats, young, each, 60a75; chick- ens, winter, per Ib., 35a40. Dressed poultry — .Fresh-killed spring chickens, per 1b., 50a55; hens, per lb., 32; roosters, per Ib., 22; tur- keys, per 1b., 35a3: per 1b., 50as Pork—Dressed, small, per 1b. 15; medium, 13a14; heavy, 10a13; live, 8%. Live stock—Calves, choice, per Ib., 10%; lambs, choice, per 1b. 13. s 2a] . per b) Green fruits—Apple: 3.008 10.00; western, per x, 3 50; California lemons, per box, 9.50210.00; California oranges, per crate, 5.50a 6.00; Florida oranges, per- crate, 6.00 strawberries, per qt., 20a35. Vegetables—FPotatoes, nearby. No. L per bbl, 1.25a1.75; northern, per sack, 1.50a2.25: new southern " Po- tai 3.5024.50; yams, per 0027.00; lettuce, nearby, per crate, .50; celery, per doz., 1.00a1.50; Ro- maine lettuce, 1.00a1.50; cymblings, per crate, 150a4.00; spinach, per bbl., 3.00a .00 kale, per bbl. 1.00a1.50; peppers, per crate, 1.50a2.50; peas, nearby, per bbl, 5.00a.00; Texas onions, 1.75a2.00; new cabbage, per crate, 2.50a3.00; cu- cumbers, 4.00a5.00; eggplant, ver crate, 2.00a3.00; tomatoes, per box, 3.5085.00: North Carolina asparagus, per doz., 2.50 a5.00; nearby, per doa., 1.00a2.25. CHICAGO LIVE STOCK MARKET. CHICAGO, Jufie 11 (U. S. bureau of markets). — Cattle — Receipts, 1,000 compared with week ago beef she stock and bulls génerally spots higher; veal calves, 25 ; stockers and feeders, dull, 25 lower. 5 Hogs—Receipts;, 7,000 head; active, opening steady to 10 lower; mostly steady with yesterday's average; fairly good clearance; top, 8.40 for fifty hogs; practical limit, §.35; bulk, 8.00a8.25; pigs, 10 to 15 lower. Sheep—Receipts, 6,000 head; receipts today. mostly packers direct; compared with week ago aged lambs 75 to 1.00 lower; springs, 1.25 lower; sheep steady to 25 lower. e COTTON MARKETS. NEW YORK, June 11.—There was a moderate volume of business in the cotton market during today's early trading, but most of it was attribut- ed to further July liquidation and the evening up of scatting accounts for over the week end. The opening was steady at unchanged prices to an advance of 2 points and active months wold 2 to 4 points higher right after the call, but this met some southern selling and liquida- tion. Futures opened steady; July, 12.35; October, 13.16; December, 13.63; Janu- ary, 13.74; March, 14.00. Selling of July increased and was attributed to spot Interests and liqui- dation became general in the trading months. More or less selling de- veloped because of fresh weakness in the stock market and because of fur- ther talk of large tenders against July contracts. Futures closed steady at net de- clines of 7 to 7 points. July. 11.86; October, 12.66; December, 13.08; Jan- uary, 13.22; March, 13.50. Spot cotton quiet; 12 lower; sales to arrive, 110 low middling, 8.88; good middling, 12.63. NEW ORLEANS, June 11.—Week end evening up occupied the atten- tion of traders in the cotton market in the early trading today. both sides appearing desirous of lightening com- mitments over the week end. From net advances of 2 to 5 points there was a fall to net declines of 4 to 6 points. July rose to 11.98 and fell to 11.89. Futures opened quiet, July, 1L. October, 12.76: December, 13.14; Jan- | uary, 13.28; March, 13.60. on the spot, 241 bales; bales; | Reports of an unsettled tone in the ' {stock market and a favorable weather forecast led to increased liquidation. {October sold off to 13.04. making a {net decline of 10 points, but later ral- lied on covering. The general market closed steady, net 4 points lower g0 5 points higher. Futures closed very steady. 12.31; October, 13.15; December, 13.62; January, 13.70; March, 14.00. Spot cotton quiet; middling, 12.50. —_— -|WEEK’S COTTON TRADING WAS QUIET, BUT STEADY NEW YORK, June 11.—The cotton mar- ket has been generally quiet but steady during the past week. _After selling off to 13.08 for October contracts on Monday, or about 87 points from the best price {of late last month, the market rallied {10 1348 for that position. but the im- fally maintained {owing partly to further July liquidation. i The latter has been in evidence during Ithe greater part of the week, but the sales of July contracts have been quite readily absorbed against the selling of early new crop months at a premium of {about 78 to 82 points on October. Small lots ‘of consigned cotton continued to reach New York, and the inspected stock here now ‘amounts to slightly over 122,000 bales, but there appears to ibe enough scattering demand for early new_ crop positions to make a market for hedges sold against July purchases by spot or banking Interests. Other- wise, the market seems. to hate been fluctuating between expectations of an early settlement of British labor trou- bles and reports of improving crop con- ditions in the south. T have been complaints of dry weather from some parts of the eastern belt, but conditions in other sections have been comsidered very favorable, and there were rumors this afternoon that a prominent southern authority re- ported an improvement of three points in the condition of the crop for the first half of the month. The last weekly re- port of the weather bureau said the crop had made a good advance, but commented upon the appearance of boll weevil in various sections and -stated a8.50; grapefruit, per crate, 5.0026.50; | 2! middling, § July, | GRAIN AND PROVISIONS. BALTIMORE, June 11 (Special).— 3.50a6.00; beans, half barre paragus, per doz., 1.50a3.50; per crate, 2.00a4.00. Cabbage—Per crate, 2.25a2.75; ki per bushel, 50a65; lettuce, per bushel, 60a1.25; spring onions, per 100 bunch- es, 75a80; cucumbers, per basket, 2.00 24.00; peppers, per crate, 2.00a3.00; spinach, per bushel, 7521.00; peas, per bushel, 1.90a2.75. Tomatoes—Per crate, 1.5025.50; rad- ishes, per 100 bunches, 1.00a2.00; rhu- barb, per 100 bunches, 4.00a6.00; ap- ples. per barrel, 2.00a3.50; oranges, per box, 3.50a7.00; grapefruit,.per box, S.SMIS.SO; blackberries, per quart, 20a 15a30; Strawberries — Per quart, raspberries, per pint, 12ai per quart, 10a25; cantaloup: 2.0086.50; peaches, per crate, 2.50a 3.25; watermelons, each, %5a1.00; pine- apples, per crate, 4.00a5.50. CLOSING PRICES. Wheat—No. 2- red winter, spot, 1.72%; No. 2 red winter, ‘lrll:ky. spot, 1.58. No quotations on June l.nsd I-lllll!- 1 ales—Bag lot of nearby by sam- ple at 140 per bushel; 3.85 hu)l,hel of No. 2 red winter in transit, at 90 per hushe}; eight cars of No. 2 red win- ter, spot, at 72 per hushel: one car of No. 3 red winter, spot, at 1.68 per bushel. el land the collapse of foreign exchange ale, | 5 EEK IS FEATURED BY EXTENSIVE LIQUIDATION Jyne 11—Extensive rt selling effected additional losses' of varying degree in the stock market this week, over different ‘issues falling to the years lowest quotations, Unfavorable industrial NEW YORK, liquidation and sl conditions hastened the decline, which again most severe in -the many speculative ils- displaying comparative Oils suffered far more than any other division, the Mexican situation and the state,of the oil trade playing directly into the hands of the shorts. According to rumors current in the the market,” or for such prices as were then avallable. Color was given to these rumors by the calling of bank loans. Money on demand relaxed to lowest quotations in the last six weeks, and time funds were less rigid, with mod- erate purchases of merchants’ paper. Basing their conclusions on the con- tinued " improvement of the federal reserve banks, brokers were inclined to expect further reduction of inter- est and rediscount rates by that in- stitution. The Safest and Most Satisfactory Invest- ment Securities Are FIRST MORTGAGE | Free from the worries of risk Corn—Cob, new: yellow, 3.80a3.85 | or loss, conmservatively secured per barrel, in carioad lots: contract on improved city property. corn, spot, 73: No. 4, 70; track, yel- | Guaranteed titles furnished low, No. 3 or better, 78 per bushel. with all notes. Property in- 7 ‘o';z-—Nm 2 white, 47%; No. 3 white, | sured against loss by fire. We Rye—Bag lots of nearby rye, as to quality, 1.20a1.30 per bushel; No. 2 Wwestern bxport, spot, 1.58% per bushel; No. 3, 1.55% per bushel. Hay—No..1 timothy, nominal; stand- ard timothy, 22.00a22.50: No. 2 timo- thy, 21.00a21.50; No. 3 timothy, 14.00a 19.00; No. 1 light clover mixed, 20.00a No. 2 light clover mixed, 15.00a No. 1 clover mixed. 15.00a19.00; clover mixed., 14.00a17.0¢ N No. 1 clover, ) 11.00a13.00; 16.00; No. 2 clover, 12.00213.00; 10.00a11.50; sample hay, 10.00a14.00. 15.00a No. 3, Straw—No 1, nominal; No. 1 straight rye, nominal; No. 1 tangled rye, 17.00; No. 2 tangled rye, 16.00: No. 1 wheat. 14.00a14.50;: No. 2 wheat, 13.00213.50; No. 1 oat, nominal, 15.50216.50. CHICAGO, June 11—Wheat prices Wwere easier at the opening of the Chicago Board of Trade today. Trans- actions were largely from the pro- fessional element. July started 1 to 2 cents lower at 1.34 to 1.35%. Sep- tember opened similarly down at 1.17% to 1.17%. Buying developed after the break reached a point 2 cents off yesterday's close, and it continued on rumors of black rust in Nebraska and some indications of a possible wet harvest in other portions. A sharp upturn at the end of the first hour wiped out the initial losses, July touching 1.37%, but at that point the market showed a tendency to sag. In the corn pit recent extended hedges changing between July and September resulted in bringing the two options together. July started % lower at 61% to 62, and September opened % to 3 lower at 62 to 623. Oats were easier with other grains, July opening at 37% to 37%. Provisions were quiet. There was some tendency to buy on the breaks, but trade was small. Potatoes—Old, firm; receipts, 21 cars: northern sacked and bulk, 90 to 1.00 per hundredweight; Louisiana whites, 2.00a2.15; Alabama Spaulding rose, 2.40a2.50; Virginia, 4.75 per barrel; North Carolinas, 4.00a4.25. Rust reports persisted and the | wheat sentiment turned bullish, the | close being near the top for the ses- sion. July wound up at 138% to 1381 and September at 1.23% to 1.24. The corn market turned strong with wheat, July and September moving in unison. Both closed at 63% to €4. WHEAT— Open. High. Low. Close. 1 July . 1343 138% 134 1383 September ... 1174, 1243 116y 123y CORN— % July 2% sx ey @y September 3 4% 6li; &% OATS— 37% 38K 38% 38y 5 38% 397 38y 9% NEW YORK, June 11.—Flour—Firm; spring clears, 50a8.00; soft winter straights, 7.35a7.75. Lard—Firm; middle west, 9.85a9.95. Other articles unchanged. DAIRY MARKETS. BALTIMORE. June 11 Chickens. (Special). — springers, 40a55; 38a45; young win- ; old roost- 3 ; ducks, 25a28; spring ducks, 130a36; pigeons, per pair, 40. | Eggs—] off, strictly fresh, near- southern, 24. prints. 32a34; : ladles, 18a21; 5 store-packed, 15a16; dairy prints, 20; process hutter, 23a25. NEW YORK. June 11 | Settled; receipts, 16,988 boxes: cream ery, higher than extras, 31%a32% creamery, extras (92 score), 31a3li: firsts (8 to 91 score), 28a30%; pack-~ ing stock, current make, No. 2, 17. Eggs—Irregular; receipts, 22,599 crates. Fresh gathered, extra firsts, 28a30; firsts, 2514a27%; state, Penn- sylvania and nearby western hennery whites, firsts to extras, 30a38; state, Pennsylvania and nearby western hennery whites, firsts to extras, 30a 38; state, Pennsylvania and nearby western hennery browns, extras. 33a 34; do., gathered browns and mixed colors, firsts to extras., 26%a32: stor- age packed, extra firsts 29a30; do.. firsts, 27%a2e, Cheese—Easy; receipts, 4,158 boxes; state whole. milk, flats, fresh spe- cials, 16%316%; do., average run, 143 al5%; state wholc milk twins, spe- cials, 15%2a16; do, average. 141;alb. Poultry—Live ‘and dressed, quiet; prices unchanged. CHICAGO, June 11.—Butter—High- er; creamery, extras, 30%; standards, that the pest was spreading all over Georgia. A disposition to wait developments in this connection and a clearing up of British labor conditions has been re- flected in the comparatively small vol- ume of business during the week, while there has been little or no change in the news from the domestie goods markets. TRADE CONDITIONS. NEW YORK, June 11.—Bradstreet's ket review of trade says: ‘“Trade and in- largely offset 301 firsts, 25a291%; seconds, 20aZ4. Eggs—Unchanged; receipts, 23.300 cases. FOREIGN EXCHANGE STIR UPSETS WHEAT PRICES CHICAGO, June 11.—Violent changes in price have made the wheat mar- stormy this week, but have each other. Depres- dustry are irregular and cross cur-!sion in foreign exchange and uncer- rents are numerous, with no two ad- jacent markets returning exactly the same reports. Wholesale and jobbing business shows an increase of mi season quiet, and Industry has rather slackened, with collections about as slow es at any time since midwinter. “On the other hand, retail trade, helped by the advance of the season, is about as good as at any tinfe this year, and crop reports are quite uni- formly favorable. Indeed, reports from the biggest winter wheat-grow- ing areas are better than they were at the date the latest government re- port was gathered. ¢ “Unemployment returns show a slight incresse, but the bulk of this in- crease is of a voluntgry. character, in that it is due rather to strikes than to forced shutdowns. At an increasing | number of points, however, there Iul evidence_ that better judgment is di- recting partial -dcceptance of re- duced «wages, this especially in the building - trade: —_— MONEY AND EXCHANGE. ‘NBW YORK, June 11.—Prime mer- eantile paper, \ 63§a6%. Exchange weak; sterling siXty-day bills and commercial sixty-day bille on banks, 3,69; commercial 3.68%; demand, 3.73 “¥rancs, demand, 7.92 Belgian francs, deman . Glflldfi;fl, demna. 3 .90. Lire, demand, 4. a):n,r‘:m demand, ‘142; cables, 1.43. Greece, demand, 6.00. BSweeden, de- ma) 22.15. Norway, demand, 14.60. Argentina, demand, 30.00. - Brazilian, demand, 12.25. Montreal, 10% per cent discount. Government and rail- road bonds easy. cabies, 4.91. X h the minister for -foreign ngfl::“l‘\'lurl%ul has arranged with a New York firm for an emergency:! loan of $130,000. It is hoped that the in will be somewhat re- present stagnant economic condition | prope CATAgUA 1 | tainty about domestic anti-pit legis- lation finally outweighed bullish fac- tors. Compared with a week ago, wheat this morning was % cent to 1% cents lower, corn down 3% cents to 4%ad% cents. and oats off 3%a 3% cents to 3% cents. Provisions gained 30 cents to 50 cents. Severe breaks in foreign exchange had a direct tendéncy to shut off export business in wheat during the week and to bring about offers to re- sell on the part of Europeans. the other hand, private domestic orop estimates were of a radical bullish nature, and were later con- firmed to a notable extent by the ‘Washington report. Misgivings about a wet harvest and a possible big railroad strike added to anxiety among traders who had been looking for lower prices. Instead of undergoing a tumble, the market scored a steep advance to nearly the topmost point yet this season. Then values made a sudden back somersauit. Disturbing relyoru about proposed action of the Illinois legislature antagonistic to the wish of board of ti members was largely responsible, but the bears put new stress also on financial con- siderations and on the slowness of export call. g Heavy receipts pulled down corn. The oats market ‘was depressed by the bearish govermment . report as to Proflllonl'tllnéflyfid some the value of hogs. to_ re- rts printed here “today. - The- price :’ll l"ifl!fl.fl as: $1,500,000. Mr.. Field recently _acquired . four pleces of rty In the Lenox Hill district in New York city, but denied heé in- financial districts. many large specu- lative accounts were closed out “at | strength |/ N COLORADO BUILDING \ \ Telephone Main 1603 attend to collecting and remit- ting interest the day due. No Expense to Investor Call Main 98, Loan Dept., for Complete Details Wm. S. Phillips 1409 New York Ave. N Give-uf business invited Jos EQUITABLE AL Organized 879 41st YEAR COMPLETED $4.272,086.87 $1,065,322.89 Save If You Would Succeed —Save as you earn, and you will begin to Rleerd in a financial way and be prepa; Prepared “Tor emergencies that may Subscriptions for the 813t Issue of Stock Belag Recelved i Shares, $2.50 per Month | | | 4 Per Ceat Interest EQUITABLE BUILDING 915 F 5t. N.W. _JORN_.JOY EDSON. Presidemt FRANK P.- REESIDE, Getting to Work Putting your money to work where it will do the most good is the surest way to hasten prospcrity. Helping to relieve the pres- sure for living accommo- dations in Washington— helping to erect new build- ings—is perhaps the very best way you can get into the game, and you do so by lending your money at 7% First Mortgages. In Amounts of $250 and Up B. F. SAUL CO. Mortgage Loans 934 N. Y. Ave. N.W. occasionally may bring in the law of average returns. Swartzell, Rheem “Howhere in It certain - 32 Years The Unbeatable Law is the law of average returns. Your investments unusual winnings and strengthen for you the lure of easy money. But as the years go by you are likely to appreciate either for yourself or for others the inescapable conclusion that every sacrifice of investment saféty leads in the end to some loss. Our First Mortgage Notes ‘on improved Wash- ington real estate base their interest return on & Hensey Co. 727 15th Street N.W. ‘Washington, D. C. The Nation’s Home Town Years Without Loas to an Invester The Largest Savings Department of Any Bank in Washington Open Saturday 5:30 P.M. to 8 P.M. Lincoln Said: the world is presentsd a goverameat of 3o muck liberty and equality. Te the humblest and Ppeorest among us are held out the highest privileges and positions, The present moment finds me in the White House, yot thers is as gosd & chance for your childten as there was for my father’ Capital -and Surplus, $685,000 Is Possible |)for a young man in his twenties, by saving five dollars every week; to have a capital of $16,000 in middlé life—why face an un- future when indepen- dence is easily assured? o Safe Deposit Boxes For Rent Deposits, $5,000,000