Evening Star Newspaper, June 18, 1921, Page 15

" UT ALLOTMENT OF SUBSCRIPTIONS Secretary Mellon Received Bids for Nearly $800,000.- 000—cCalls for Cash. BY L A. FLEMING. FEarly cstimates made by bankers of an issue of $600.000,000 certificates and short ‘term notes proved to be very nearly an accurate forecast, as the total allotment was $6: 600, while subscriptions were made for $758,007,000. | It is evident that the subscriptions would have been larger had the Secre- tary of the Treasury offered a larger umount of securities. The condition of the money market makes conditions ripe for the flotation of government securities. The conserv- ative investment community is seeking just such opportunities, and it is doubt- Tul if the Secretary of the Treasury will find a_more opportune time to do financing than the present. Call loans were offered at 5': per cent and in the open market money at nearly 1 per cent better than these figures was available to borrowers. Th~ demand is extremely light, and the truth of fre- nt and reiterated statements in this erlumn regarding the secondary position of the money market as compared with lack of confidence in the stock market demoralization. The June 15 sale will give the Treas- ury a clean working margain of ove $600.000.000 and carry it over the fiscal year's end going strong. Calls for $23,700,000. . Secretary Mellon this morning called upon all national banks holding proceeds of the certificate sale of May 15 to pay into their respective federal —reserve banks the full amount of such balance by Tuesday of next week. Tae original mount of this issue was $ Banks were allowed to re siderable part of it for two weel some of it for over thirty-two days. | Division of the most recent offering Jwas $311,191.600 three-year notes and 49$314,184.000 one-year certificates. Steel Production, 20 Per Cent. It is stated that the steel industry is now being operated at 20 per cent of capacity production. the lowest ra- /tion in the last twenty-five vears. It _seems to be a case of the basic indus- itry waiting for the betterment of the railroads’ condition, and of the rail- roads waiting until such time as they scan see their way to make appropria- tions for the needed upkeep and cquipment. No one believes that the railroads are appropriating enough for mainte- ! mance: every one understands that equipment is inadequate and that . hundreds of dollars are doing the work of hundreds of thousands in up- .keep, with the assurance that the itime must come when the' cost will ‘mount and factories oe busy making jthe needed betterments. if the rail- iroads of the country are to be saved. : Personal Mention. R. N. Harper addressed the Virginia State Bankers' Associution at Hot Springs. Va., last night. His address ‘was hopeful in tenor. Corporate Maturities In Jul Railroad bonds to the amount of $269.366.100 mature with July: indus- trial bond maturities total §30,518.200, and public utility bonds. $70.325.660. @ total maturity of $370,209,960 bowds. —_— FOREIGN BONDS. Quotations furnished by W. B. Hibbs & Co. Closing prices’ A Krupp. Bad. Aniline 41ax AL EL Ges. 4138 18 Mein‘ger Bank 4s 16 3 e Yord. L. Bank 4s 16 3 uesseldort 4s. ienna Fssen 4s. Vienna Frankfurt Vienna + Frankfurt French .w,| 7 Hai French &7 | i W French iburg :s. &rlll:h amburg 41ss. N Teipsig 413s. Leipeig Os. unich 41 - “German gov. 131y Belgian Rest. 3u. “German gov. 31;s 12% Beigian Prem. 5s. —_— FOREIGN EXCHANGE. Selling checks—Dollar vaizes at noon today: | London . Rudapest a: Tarls . 1434 | Tirussels 12 Terlin Eome . Madrid Zurich OIL STOCKS. Quotations furnished by W. B. Hibbs & Co. “*FINANCTAL. j Burns Bros. { Comp Tabulator .G ‘INEW YORK STOCK EXCHANGE. Received by Private Wire Open. High. Low. Close AdvRumley...... 3 1B B B Ajax Rubber %5 i (B Alaska Juno 1M 1% 1% Allied Chemical sk % ¥TH Allis Chalmers 2 32 [ Am Agr Chem 5% 6% Bk Am Bank Note 50 g% :"- m Beet Sugar. 28 Amno-c:‘.' 35% 36l 3% Am Can Am Car & Fdy. Am Druggists Am Expre Am International. 35% Am La France 84% - Am Linseed. 23 2 Am Locomotive... 5% 7: Am Safety Razor.. 4% L Am Ship & Com... % e Am Smelting...... 3% 81)‘, Am Smit Sec A.... T% me Am Steel Fdy..... 2 25% Am Sugar. 68 & | Am Sugar pt 8% s Am Sumatra...... 464 8 Am Sumatra pf.... 7% 74 Am Tel & Teleg. .. 105 : 105 Am Tobacco. ..... 118% 118% 116 L6 Am Tobacco (B).. 116 116% 1is% 115k Am Woolen. s T 6 6 Am Zinc & Lead... 84 8'a 8% 8% Anaconda. 1w 3Th SN 8T Asso Oil.. 9 9 95 95 ' Atchiso: . 9% T 8% TN AtlanticGulf..... 20% 0% 19% Dh| AtlantjcGuifpf... 1 13 19 1 | Atlantic Petroleum 15% 18~ 15% 16 Baldwin Loco..... 604 63l 6% 6% Baito & Ohio. ...... 37 it 5% 354 Balto & Ohio pf... 5) 50 4% 4% Beth Steel. . D45t 45t 45 45 Beth Steel (B).... 48% 48% 48 48 Booth Fisheries... 3% 3% % 3% BkiynRapidTrn.. 10 10 19 10 ks T K] T Bklyn Rap Tr ctfs. Butterick Caddo Oil Califognia Petrol. California Pet pf.. Canadian Pacific. . 1105 Central Leather. .. 34'c Centrai Leath pf.. ¢9's Cerro de Pasco. 26% Chandler Motor 687 Ches & Ohio. . Chi Great Westn. . Chi Great W pf.... Chi Mil & StP. hi Mil & St P pt. . Chl & Northwn. Chi Pneu Tool. Chi R1 & Pacific. . ChiRI&P6%pf.. Chile Copper. Chino Copper. C CC & St Louis Coca-Cola. Colo Fuel Colo & Southern. . Col Ga: Col Graphophone. Col Graph pf. .. Cons Gasof N Y Cons Intl Cal Mi Cons Textile Cont Can. . Cont Candy... Corn Products Cosden & Co. Crucible Steel.... Cuban-Am Sugar Cuba Cane Sugar. Cuba Cane Su pf Del & Hudson. Denv & Rio G pf. Dome Mines. . . DusS S & Atlantic. DuSS&Aupl.. Erie Erie 1st pf.. Fed Mines & Sm k Rubber veport Texal Gaston William: Gen Asphalt. Gen Gen Gen Motors. an Mot 6% deb. ~-t Mot 7% deb ranby Consol. ... United Retail Strs. 63 5 Great Northern pt. 1US Food Prod.... 13 1 Great Nor Ore 1US Indus Alcoho!. 3% 63 | Gulf States Steel. . U S Realty. 5t Haskell & Barker. U S Rubber ot | Hendee Mfg. { U SSmelt & Ref, 3 | Houston Oil.. 7% B9 |USSteel.. 78 T Hupp Motors 1% 1| U SSteel pf. 108% 106t | Hydraulic Steel. 94 Utah Copper e ity lilinois Central. " Vanadium Corp... 2% 2 % £ { Va-Car Chem pf... 67 " Inspiration 2% | Vivadou. oy 7 Interboro Metro ‘ Wabash N ki Intl Agr Chem. ... 7 Wabash pf A. 20 20 1 Intl Harvester.... 501 ! Western Md...... % o Intl Mer Marine. .. 1% | Western Pacifi . 25 25 i Intl Mer Marine pf 41 a7y | Westhouse E & 3y @ Intl Motor Truck. 30 { Wheeling & L E by B | Intl Nickel. u | Wheeling & 1. EpI. 151 e Intl Paper. < B2% White O T ot Invincible OIL.... 1 i Willys-Overiand.. 7%, . T sland Oi . 2% 3t HOURLY SALES OF STOCKS. Jewel Tea. - 8% 843! 1lam..... 195600 12 M.... 3.5000 TODAY’S BOND PRICES. Noon prices reported to The Star over direct New York-Washington wire by Itedmond & CO. Bid. Asked. Wk Anglo-American 0il Co. (new) 5 18 o 8 ArEee Hefaia Co 200 st Rorne-Serymser Co 375 Buckere Pipe Line eseborough Manu antinent: ¥ Crescent Pipe Lil «umberland Pipe Line. Trairie 0Oil and Ga Yrairie Pipe Line Co Holar Refining Co. Houthern Pipe Line Co. Standard Oil Co. Kentucky. Standard Oil Co. Nebraska YALE ALUMNI THANKED. Resolution Expressing Gratitude Sent to Association Here. The president and fellows of Yale University meeting recently in New Haven adopted the following resolu- tion and directed the secretary to transmit a copy to John J. Cameron. secretary of the Washington Yale Alumni_Association: “Voted to direct the secretary to ex- tend the thanks of the university to the members of the executive commit- tee and the officers of the Association of Southern Yale Clubs and to the secretary of the Washington Alumni Association. for the success which at- tended the first meeting since the war of the Southern Yale Clubs in Wash- 4ngton. —— FOUR ON RETIRED LIST. Cols. Lucien G. Berry, field artil- Jery, and Charles H. Paine, infantry, have been placed on the retired list on their own application after more than thirty years’ active service. Col. Berry is from New York and was graduated from the Military Academy in July, 1886. He reached the grade of color®l on March, 1913, and was a brigadier general in the National Army in the world war. Recently he has been under treatment at the General Hospital at Hot Springs, Ark. Col. Paine is on duty with the Penn- sylvania National Guard at Philadel- phia. A native of Vermont he was graduated from the Military Academy in June, 1895. Lieut. Col. Frederick B. Henncssy, field artillery, who has been under treatment at Walter Reed General Hospital, and Maj. Richard B. Clark, YTental Corps. who has been under treatment _at Fitzimons General Hospital,. Denver. Col. have been? transferred to_ the retired list on -atcount of disabilities incident to the pervice. Armour & Co. 41as. Atchison, Topeka and Atlantic 'Coast Line s, Atlantic Refining Co. Baltimore and Ohio con: timore timore Bethlehem Steel refd. Canadian Northwestern Central Leather 3s. Central Pacific 1+ 1949, sapeake and Ohio conv. 3 hesapeuke and Oh and Ohi ‘hicago Northwestern 7s 1930, - . Rock Island and Pacitic refdg. 4s.. Union Station 6l s ated Gax 7 Delaware and Hudson Erie general li General Electri 2 oodyear Tire and Kubber Co. s 194 Grand Trunk 7s Ket. Hlinols Central 51a: International Mercantite Marine Inter. Rapid Transit 1t and ref. Louisville and Nashville 7s 1930. Missourl, Kanxas and Texas Ist 4 Missouri Pacific general New York Central 7x 1930. ew York Central deb. 6s. ew York Telephone orfolk and Western ¢ orfolk and Western conv. 6s. Northern Pacific 4s. Packard Motor Car Co. 8s 1931 Penns; ? Pennsylvania R. R. Pennsylvania 78 of 1930. Pennsyivenin gen. mortgage 414s. Reading general 4s. 8t. Louis and San Franci Seaboard Air Line adj. 5t Sinclair Cons. Oil Corp. T%s 1925, Southiern Pacific 1st ref. 4s. Southern Pacific conv. 4 Southern Rallway gen. 4 Union Pacific conv. Unfon Pacific 6s 1928 United States Rubber 5%. United States Rubber 71 United States Steel 8. F. Vacuum Oil Corp. 7 1036. Virginia-Carolina’Chemical Wilson & Co. 1st Ge.. SHOTS SINK DEUTSCHLAND Famous Submarine Which Made, Trip to U. S. Destroyed. By the Associated Press. CHERBOURG, France, June 17.— The former German supersubmarine Deutschland, which in 1916 slipped into Baltimore harbor from Germany after daringly running the gajintlet of British and French cruisers btand- ing guard off the Virginia capes, wés sunk by gunfire today during target practice. The submarine had served as a target.for a series of submarine atiack experiments carried out by the French armored cruise= Gueydon nd was sent to the bottom seven| les off shore. Seaplanes hovered over the scene, taking photographs of the different phases of the attack. | New Or Tex & .. i Phillips Petroleum i Pond Creek Co: | Royal Dutch. . S0k 1% 0% 10t |Seaboard Air Line. s g o el jSeaboard ALpf... 1v 1y w9 Sears Roebuck.... w1 w2 7% 72 iSeneca Copper.... 1 1 1 m | | Sinclair Ol < 2A 200 194 19% | So Porto RicoSug. 30 9 g9 a3y | Southern Pacific.. 7% w24 71 7 | Southern Railway. 19% 15% 13% i various quarters as the half year THE EVENING ~ ST)&R, WASHINGTON, D. C, 'SATURDAY, JU IBEARS PICK CHEAP [ADVENT OF Direct to The Star Office. Open. High. Low. Closs Kansas City Sou.. 24 24 2% 23% Kelly-Spring Tire. 38 88 6% 6% Kelzey Wheel . 53 € 53 B3 Kennecott. . 18% 18% 18% 18T Keystone Tire.... 10% 1§ 9% 9% Lackawanna Stecl 38t :8% 37 87 Lee Tire & Rubber 25% 6% : 25% Lehigh Valley. . Liggett & Myers. Loews Inc. Loftlnc...... Louis & Nash. Marland Oil.. Maxwell Motors Mexican Pete..... Miami Copper. . A 015 MiddleStatesOil.. 1% 1% 11 114 Midvale Steel..... 284 2% 274wl Minn&StL(n)... 11 1u% 1% 0%l iMoKan&TeX.... 2% . 2% 2u 24 MoPacMic........ 20 20 1% 18% Mo Pacific pf 38% 8% 6% 6% Montana Power... 68!s 48% 48 | Montgomry Ward. 18% 184 184 18% Natl Acme.... 16 16 Ml 144 Natl Biscuit pf.... 109 Natl Conduit 1% Natl Lead. . Natl Rys of M .. Nevada Copper... 109 NY Air Brake. N Y Central. NYChi&StL NYNH & Hart. NYoOnt Norfolk Southern. Norfolk & Westrn. 9% North America.... 6 Northern Facific.. 6l Oklahoma Prod... 1.« ; Otis Steel......... 104 10 100 4 Pac Gas & Elec. : e Pacific Oil. ... % Pan-Am Lete. i Pan-2m Pete (B). Pennsylvania. Penn Seabd steel. . People's Ga Pere Marquett Phila Company Pierce-Arrow. . Plerce Oll. . Pierce Oil pf. Pitts & W Va. Pressed Steel Car. Pullman Co....... Punta Alegre Sug. PureOll. .. Railway Stl Sp, Ray Con Coppe: Reading. ... Reading 2d pf. Kemington Tvpe. . Repiogle Steel. ... Rep Iron & Steel.. StL & Sar Fran... StL & San Frpf. . St Louis Southwn. Southern Ry pf... Standard Mill pf. . Stand Ollof N J... Stand Oil NY pf... Stewart-Warner. . Stromberg Carb Studebaker. Tenn Copper Texas Company Texas & Pacific. .. Texas & P C & Oil. Third Avenue. Tobacco Prod. Tobacco Prod pf.., Trans Contl Oil. .. Twin City R Tran. Union Oll. . Union Pacific. United Alloy United Fruit United Ry Inv | ! SHORT-TERM SECURITIES. (Reported by Redmond & Co.) {Compared with j terioratin | Columbian Emerald '~ RAILS FOR RAIDS Pressure Extends as Session Advances—C. & 0. Again Defers Dividend. BY STUART P. WESY. NEW YORK., June 18.—Speculation for the decline shifted its atténtion this morning to shares of the so-called “weaker rails.”" The movement started in New Haven, with the appearance ot large blocks of stock pressed for sale at new low record prices. Nat- urally this revived the unfavorable ru mors which have been circulated every time in the last year or so that New Haven stock has broken. The point was made against the weaker rails that «he relicf proposed from the wage reductn may ndt be sufficient to tide some of them over the present period of depression. On the strength of this argument the low- priced railway group were offered down all around, and the demonstration fin- ally involved dividend pavers like Fenn- ivania, Canadian Pacific. Reading and ew York Central. Chesapeake & Ohio. not having fully discounted the second postponement of its dividend, had an- other bad break. Among the indus Is there were the usual collection of individual weak spots. Among these were some of the low-priced oils, particulyrly Sinelair and cible: Harvester, American Suma- Invin tra had isely the da; pre - as on previ extreme weakn character] that the i ities did not upset the gen- nge was a bit higher, but dealings were of no importance New Haven's Slump. ing to 14%, New Haven stock hed @ new low record for the ear, and this meant a new low for 1 time. The decline did not have the appearance of a bear raid pri- !marily. It occurred on uncommonly Jarge transa In the b sheet at the close of 1920 New Haven showed a profit and cit of $31,524,000, and here is the main trouble. New moncy is bad is. of course, impossibl ven to float new securitie exorbitant term $35.000.000 convertible needed, and it for New on any but debenture 6 per cent bonds in July. and it was this which formed principal topic of discussion toda Sinclair OIlL nelair Oil was one of the stoeks ccted as a special object of attack that this companies hich could down ils inventory and 8 « off for depletion and depreciu- tion and show any balance to the good from current carnings. NEW HIGH FOR SEASON CHICAGO, 1L, June 18.—Actual damage from hot weather and pro- spective damage from black rust have made wheat prices this week jump to a new high record for season w wheat 61, « bushel ain of 3l to and oats of 1%ul'y to llza io\s stood unchanged to the this morning was uj with corn showing a 3. . Pro higher. A otwithstanding that’ hot was conceded 1o promote progres: the harvest in the winter crop sta the majority eat traders gave attention to the spring crop high temperatures were inflicted injury north- ¢ in South Dakota with looming + mena weather of west, espec black rust Meanwhile, and Indiana was reported as also Bulges in_price. how ever. led to inc ed offerings from the country, and a sharp reaction fol- lowed. On the other hand. assertions that black rust had appeared in Minnesota as well as in South Dakota, tended to make the bull side renew the ag- With predictions current e would lust for sev- eral d - upward swings of the market received additional impetus and it was contended that no import- ant accumulation of stocks would take p'ace during July. Posgibility of a drought scare gave iatations furnished by W. B. Hibbe & Co. — Close. Asked, B Boston and ‘Montana | Boston and W imet “and Jerome bon Steel . Carib Syndicate Carih Trading .. Light and Power « Service (new) Service (ald) Cities ervice Commonwealth Finance Corp. Bid. Offer | 9 ity | by % 100 P 3 A Tt ‘Tobacco Co. hw B Copper 85 1929..... . 87 Hed Anglo-American Ol Tiys 1925, 873 0% Armour & Co. 7s 1830 oy 95 Bethlehem Steel 75 1925, o 0% Bethichem Steel 7a 192 98 e Cauadian Pacific 65 192 9415 . Central Argentine s 1b: TS Cllcago, R. I. & Pacific 8¢ ol iy . nd St. L. 6s 1920.. % e v 1001 10048 { ek g Humble ot 3% Kennecoit Copper 7a Lggelt & Myews Lub. o Procter & Gamble s procter & Seuthwestern e e 15 Stathwetern B e 1955, Swit & Co, oa 1951 02 Swift & Co. 75 19 Texas ¢ Luion La Western Elect Westingl'se TRADE CONDITIONS. NEW YORK, June 18.—Dun's re- view of trade says: “The repression of business activi- ties is not Wnnaturally accentuated in pears its ending. nventorying . and other accountin begin "to occupy attention and ape proaching hclidays and vacations also have a quieting influence. These are | factors which are always present at | this season#but which have a more | conspicuous effect during periods of commercial reactjon. ore than a year of readjustment, with steadily ‘falling pri’ces, has brought certain trades to. the point Wwhere some revival along conserva- tive lines has been possible, but the hoped-for general recovery is still deferred. While the recent large at- tendance of buyers in some markets has been cncouraging, operations have been mainly confined to imme- diate or nearby requirements, and Preparations” for { Consolidated { Farrell Conl fureko Croesus Federal 0il Fensland 0il ililand Ol en_Alden Coal . Gienrock Ol Guffey-Gillesp ranada Oil Indian Packing . 1 3 Intercontinental Rubhey . ] k) International Tetrolenfs (new).. 123 13 me Verde 316 5-16 County % 1y Lake Torpedo b4 114 Ione Star Gas 20 25 Magma Coppe: 17 20 acaibo Oil .. 2y B4 Valley . 1% 2 Merrftt Oil . 813 _ 8y Midwest il com. 2 west Ol pfd EIC 173 Midwe Lefininz 12 131 Mountain Producers 8 evada Ophir 20 = ‘ornelin " 1 ssing Min A% Ay le Ol “and 0il il Perfection Tire . Producers aud Refiners Kadio conf. adio_pfd. (new) Sait Creek (new) Supulpa_ com Simms Petrol Skelly Oil Sonchern v Sweets Co. of America 3, 3 Swift International Tonopah Divide ........ ‘Tonopah_Extension . United Kastern . 8. Light and ‘Heat. com. U. 8. Light and Heat. pfd United Trotit Sharing have not been of sufficient magnitude to prevent g further increase of idle fhachinery in some industries. Week- 1y bank clearings, $6,548,179,090." _— D. C. SHRINER HONORED. F. Lawrence Walker Chosen Head of Recorders’ Associalion. At a meeting of the Recorders' sociation now in convention at the forty-seventh annual session of the mperial Council of the Mystic Shrine Des Moines, lowa, F. Lawrence Walker of Almas Templc. this was unanimously elected presiden the organization.” Delegates from cvery temple in. North America are represepted in the 'association. As- 1i. 8. Rhip Corporatior U. 8. Steamship United Retall C United Texas Warren Bros. Wayland Oil Wayze Coal . West End Cons 1 Wright Aero 7 LuICAGU— Armour Leather com 12% Armour Leather pfd. 8 Armour pfd . i 8% Gdaby Packiig 4 Libby 1’& ationa 7 witt & C 204 Union ¢ 43 Wall . 4 The first Burman woman ta secure a colleze training was Dr. Ma Saw Sa, who Is now head of the Lady Dufferin Maternity Hospital, in Ran- goon. = ° : 3 Ha- | Interest is due on| FEATURES WHEAT WEEK ! the winter crop in Ohio { ATES \ Town and — NEW valescent lines of trade were able to sit up and take nourishment today, and some have been discharged from the hospital of liquidation practically on their fcet again. There were some lines. it Is true, which sufferad a slight relupse this week, but all®are undergoing treatment which it is as- sured will bring improvement and final recovery in the not distant fu- ture. Business dispatches and official re- ports received here within the last twenty-four hours make ‘it’ evident that instead of suffering from the ex- pected slump of the hot days retail merchants were met with an unex- pected rush of business in numerous lines which sent them scurrying to the jobber und manufacturer to re- plenish stocks. This &vas especially marked in the cases of merchants in the smaller communities, although bix city retailérs did-a tremendous busi- ness in certain lines, notably summer wearing apparel. ‘armers and Stockmen Helped. #Helping hands have been held out to the farmer - stock grower by the bank the immediate | | he istance 11 under way. in ured of thi are in banki 50 ‘tions and four qual to what the wool buyers are willing to advance on the { month loans £ 18, 1921—PART 2. SUMMER WEATHER City. Merchants Report In- creased Sales—Return of Strikers Gi_ves Impetus to Building. YORK. June 18.—Some con- * . FINANC IBONDS WERE SOFT AT LOWER PRICES NEW bonds \ LINES OF TRADE YORK, June were generally 15.—Railway soft in the prices were manifestly slipping. New | Haven debenture 6s slowed down from 601. to 60. and the New York Westchester and Boston 4135 w off a fraction, this in sympath the drop in New Haven stocks. Paul general s a_point betw sales. from 63 to Missouri Pas 45 got down below 32! Denver refunding lo facturers in all lines are increasing efficiency and cutting cost of produc- tion by every scientific m.ans. Steel continues dull and while re- newal of activity with increased de- mand is on the horizon. it is not ex- pected in the immediate future. Ttecognizing this fact. impqrtant ad- t a_half point, to practically eliminated the wartime + . San Francisco incomes were heavily practice of overtime pa and | 52 " n e i1 humerous independents have reduced |traded in. but were supported when A they got down to 501%. et » In the industrial sion Conl Warex Detter. dency was toward lower pric Coal, while not in great demand,!Goodyear s sold down from Cuba Canc Sugar 7s kept at th . and o did Cubx Sinclai were support ! fared somewhat better than in reccnt weeks, but excess of production over caus veeping cuts in_oil ‘dem uved gween and gave a zood A punt o h the east [ Fhewiate ot rili::"dog"f',fl‘,i:.‘: themselves on the day. cansiderins the I have taken action to relieve | Weakness in the stock. Liberty bonds were changed. and so were ex. ubstantially un- forcizn govern. feature in the overproduction and producers are cx pected to take effective means to re- adjust conditions in the midcontinent The onl; fleld. The decrease in the price of group was a diop in Mexican gasoline, however, h been hailed | from 47% to 4 With joy by merchants und shippers, _ 1who dyticipate decided Sving in de- COTTON MARKETS livery Dy truck as a re<ult. NEW Y c e b only nom-] NEW YORK. June 1s Meials are stagnant, with only nom- | NEW VOREL, Junc 15 cton tocks demand bevond present hardware showed slight inal Demand for situation had unsAtling jimprovement. but still is far from |he cotton my Jagiin Aoday: it inormal. The slump in sugar has re- |59 o Sulted in closing of many refincries. | 0 owing ) . ; yreak this included @ good Lumber i inactive. although ship-| overing, while trade T ments from the west are broademinz | Coreriag: Wil L 3 i out. The fruit crops so far have b lowed by rallie: market | disappointing 10 grow ¢ sase | P owing u pretty S nderione where crops were lizht they were [ guoi it S0 S0 | forced on an unfavorable market. and barely steady | where they were hea excended [ porery S market today, accompanying the Y weakness in railway stocks. There were no very notable declines, but | Justments were put inio effect in steel | 424 Erie convertibjes fell the cffect | plants throughout the country at theof the deeling 5 8 and close of the week. “The new schedules | Chesapeake & Ohio con = oy made a new low at Louis & 1AL, 5 ° ‘ Must File Capital Stock Tax Returns Not Later Than July 31. wiock tax returns mast | : i i 1 | | { ceptions, from all corporatio: | and no company ix wafe in numing that the form will not be required of it. ‘The tax must be paid on each full $1.000 in excens the fair value of o | loys wi rgo of the American n the ¢ steamship Mount Seward. which ar- rived here from Hamburz, via New York. There was alse large quant hollow-wa thenware re. hard Woodenwar: paintings an tigx of paperwars, ware, luminum rtificial flowe Th | steumer is scheduled to sail for re- turn trip to Hamburg nd L will carry grain, oil, and relicf zoods LONDON WOOL ACTIVE. LONDON. June 1 tion bal was 4 good sale. Current rates we paid for all fine medium sorts. Low, grades m with better easier quotations impre mand from the continent for the home trade were 1The sales close today wool clip. so that the grower neced 4 y. ExCee points active months sold about S to not scll his wool at present prices. | demand, with consequent low prices. {15 points net lower, with July touch Quarter Wool prices. Lowever. have shown a Cotton Stimulated. ing 11.07 w new low record. Th ighuy stronger tone this week. | on the other hand, increased demar market then ‘llnlml ith July selling of a “armers are assured of sufficient|rrom Germany and other Europe up to 11.36, while October advanced feash (o finance the MArvest now un- | coamtrioe lated wor from 11.90 to 12.19, with active months Century der way. and o far there hux b hold firm and the mar- | zenerally lx‘ho»:'nu: net " advances of | Experience an adequa pply of labor in . if not as broad as might |11 to hoints. 5 harvest flelds. : i i Futurs i110; in Property | Emerging From Slump. are busy anc | October, Jan- Manage- i Return of thousands of worke: ing are operats ; 1 Ithe building trades, either p manufacturs Tu2e; ment arbitration of wage scales or inken on & new leas: of T an-y ceeptance of wage ductions, ile industries are fast revover v 4 g iddling. 11.10.1 to building the demand for jewelrs iz both m 5. 1] structi smplementury 1ines and widespread ORLEANS. June 15—Whil: | The Advantages of business although ne great m s easier and collections around the opening today ' ) b I mentum ha - n gained. Fetter. While business has been spott further depressions to eot- (| of 4y experienced organi- | The tire ind scems to have there are many healthy spots decline did not last long af i 7 S g emerged from its xiump with iiquida- remainder scem Lo b yiclding )ts of information that thers | tion handling rental 3 1 S . tion of high priced inven: v, Manu- ! treatment that the British | . urn 1 “'":« Heay propertics are numerous. amonz shorts 2 3 of 10 to 14 points 1 For an example, we decide Grain, Produce Ay ARKET. fresh, doz., 25 Lggs—strictly average receipts, 27 i Live poultry—Roosters, per b, 17 per turkeys, per b chickens, Spring. per Ib.. AS per b, 1 28; keats, young, chick- s, winter. per 1b., 33a40. | Dressed poaltry — Fresh-killed per Ib, 30; roosters, per Ib. 3%a40; eats, younz. cach, 60 inter, per 1., 35a10. Pork—Dressed. small. per 0. 10a13; Live, § 10; lambs, choice, per 1b., 11. een fruits--aAppies. per LI westarn, per box. 3 lemons, pt‘ box oranges, per crate, Florida oranges. per crate. < grap-fruit. per crate, 5.00a6.30: berrivx, per gt.. 20a35. _ Vegetables—Potat fier bbl. 3.00a3.50; vams, pe 7.00; -lottuce, mearby, per crate. celery, 1.00a1.50. 300a 0 1. 5024 asparagus, . 1.00a; strength to corn. Oats were in- by adverse erop report: d with week ago. ived firmness from | 15225 lower: she stock. g were in‘receipt of | generally to L0 lower, spots off million dollars from Germany. [more; bulls, canners and cutters. 2o _ Hower: calves, 50 to 75 lower. Receipts. 6.000 head: opening. CURB STOCK! one load sorted lights. top. 8.23: bulk. clearance Di mostly. Sheep—Reccipts, 2.000 head today mearly all packers dire ed with week ago. lambs. 100 to 5 lower. spots off more; yearlin lower. pa 1 75 to 1.00 lower; sheep, 30 to DAIRY MARKETS. BALTIMORE, June 18 (special).— Chickens—Alive. springers, 40250 : white leghorns, 3sad2; old hens, 27a30: old roosters, 16al7: ducks, 25a28: spring ducks, 30a36; pigeons. pair, 35a40. Eggs (loss off)—Native and nearby firsts, dog., 26: southern, Butter—Creamery. fan |Pl’ini!, 33a3 nearby . 19a21; rolls. 1 packed, 16 process butter, CHICAGO. June 18.—Butter—High er; creamers crates. broilers, 30a40. NEW YORK: June 1S. "Easie receipts, 11,984 Creamery, higher than extras, 331, creamery, extras (92 score). 32 firsts (88 to 91 score). 29a. C !ing stock. current make, No. Ergs—irregular; receipts, 21.980 cases. Fresh gathered, extra firsts. 25a30; firsts. 241z, state, Penn- ania_and nearby tern hennery hites, firsts- to extras, 20a38; state, VPennsylvania and nearby western hennery browns. extras. 33al4: do., gathered browns and mised colors, firsts to extras, 2512a32. Cheese—Steady receipts, 4.017. State, whole milk, flats, fresh, specials, 1512al1612; do., average run. 1412a151. Butter— pyckages. L34 State, whole k, twins. specials, 1512a16; do., average run, 14%als. Poultry, live, firm: fowls, 35. Dnessed poultry, quiet; prices un- changed. Poultry—Alive, lower; fowls, lower:d of and Live Stocls [i i thove. July traded GRAIN AND PROVISIONS, ‘hen reacted 10 1053, e of 18 L June, 18 (Special Futures opened July, 1051 . No." 1. per 100 lbs 53; Dec J11.80% Janu- MeCormicks March, at 2 July. 10, . 12.00; Jan e net doz . per bunch Dec: : March, 12.47 to arriv middling n low the' spot. middling, 1 middling, non; X COTTONSEED OIL FIRM. W YORK, June 15 —Cottonseed ed firm: prime summer vellow, 50 bid: prime crude, bid: June July August. Septem- October. 7.8 ovember, December. Januar. 5 100, 1150 2.0024.00 1ash, red winter 1 sales. ed \\‘Hll)t'l'. garlicly uotatiohe on J ! i Present stocks of raw cotton in ed at about 200,000 000 hales are Amer- iapan are e es. of which n cotton. Bag lot of new wheat per bushel rgo of No. jwinter, s1ot, at 1 bushe! of No. 2 red winter, garlicky 131 per b cargo spot, at Here’s the Road to High Interest on yellow, 1 3.80a3 to 5o cob corn, domestic, bagrel lower. in corn, spot, 68%; No. 4. flow. Nc. 3 or better, | oo, uened or o, 2w | Safety Plus ellow at 71 per by el One car R Investment g lots of nearby ry 1.2041.30 por bushel: N export. spot. 137 per bushe 4 per bushel. 0. 1 timot} As America Returns to Normal Times 7% No, 3 tim b 1 light clover. n o, light clover. mixed. [ : . : . First mortgage motes. Se- 0 Sloy : o . D W0 No- ) clover. mixed. 1930 ([l cyred Ly some of Washineton's ;2 glo mixed. 14.00a ill fnest residentisl prope-tics. “No. wiil draw 7% throuzh n lower interest rewd investor is look- head " Amounts $250 up. 2 18.00a13.50; . 1 oat. nominal. 15.50a16.50. | e ! {"XEW YoRk, gune 15—iour. uneer. ||| Allan E. Walker & Co., Inc. :l:r ur:.n‘lg"palenls §.9029.40: soft win- Sales—Rents—Loans— aights. 7.25a7.65; hard wi L raipnte 7.2 ard winter y Insurance Lard, firm: middie west. 10.15a10.25. 813 Fifteenth St. N. W. Other articles unchanged. Main 426 CHICAGO. July 15.—Forecasts - for generally and unsettled weather turned many of vesterday's wheat buvers into sellers on the Chicago board of trade today. At the start the market was niervous, but initial trades were at 1.3213 The Safest and Most Satisfactory Invest- to 1.331: for July and 1.26': for Septem- 1 ber, “these figures being advances of ment Securities Are from 1%, to 2 cents higher than yes- terday’s close. Commission houses start- | «d_selling and the pit trade followed. | hin an_hour prices were back 1o { v's finish. which started v changed with July at 65%a'; and Sep- tember at 631z to 66, reacted with wheat, influenced by scattered selling. Oats were stronger than corn at the opening, September being ' higher at 40% to 41 The general sag. however. dragged it down 10 ?9% in the first hou Provisions were dull but prices were a shade higher because of a firm hog market. . | FIRST MORTGAGE - NOTES Which Will Net You 7 % Interest Free from the worries of risk tically un- or loss, conservatively secured Potatoes—OIld, weak: receints. 35 cars: on improved city property. | porthern white ed and bulk, 60 per ([l Guaranteed titles furnished bu.; new, steady; Virginias, 4.25 barrel. with all neles. Property in- sured against lo: fire. We 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. SHARP DECLINES MARK WEEK’S COTTON MARKET NEW YORK, June 15.—There were sharp declines in the cotton market during the past week, with both July and Octobfr contracts making new low records for the season during yes- terday's trading. The price for Octo- ber deliveries sold as low as 11.86, compared with 13.99, the high point of last month, and 12.05, the previous Cotton, quiet and unchanged: all policies with the experi- ne " in mind derived during our experience of of many other cases -pecialized of over a auarter of a century managing rental property. B.F. SAUL CO. Property Management 934 N. Y. Ave. NW. to Loan £1.000 10 5. _Money Joseph I \“'(;él EQUITABLE Co-Operative Building “Association Organized 1570 YEAR COMPLETED 41st Asnetn Surplus Save If You Weuld Succeed —Save 1 earn, and vos will begin in a financial way and be for cmergencies that may late: Subacriptions for the 81st Issue of Stock Belag Received Shares, $2.50 per Month 4 P'er Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Secy. 'Harriman & Co.| MEMBERS: New York Stock Exchange 111 Broadway, New York \ Washington Office | COLORADO BUILDING Telephone Main 1603 Give-up business invited N G. B. CHIPMAN ‘Manager / el - low record for that position. The DIVIDENDS DECLARED. market held fairly well during the ;earhcr part of the week. owing to St I scattering crop complainis and re- . t J 3 Fire Er hecorg. ported prospects for an early settle- m Y A ‘\"' La France Fire Eng.. .., = o3 Juy 1| ment of British labor troubles. 4 ong our Assoclates % | These features failed to create any $1.35. 2 Aug. 15| general buyinxg interest, however, T ol 2 ¥ Basiger, R ”;;.h‘l’lerlhelyx ras @ steady _llribl:)le of vou will find numerous investors in our First Continent i y liquidation accompani v re- L + g 4 5 = Continental ‘Insurance Co. 5| ports of further raivals heraiinsaoas Mortgage Notes on improved Washington real 11ed Lor activery on couiract. and the estate. 1f vou inquire, you will be likely to find H very wea! ater o by = e H i Les:e::\‘;nrlahl: ?rm"'{fl'“"" Aees an they have added recently to their holdings. TI;:; al of favorable crop reports. i rsons w 1| Accarding %o ‘able advices received tendency is quite genfl:all SWORE pe S 1 today, the wage dispute in the Man- have divided their capita het\\\eenh ourcl - as been settled, bul s end o British coal miners voted against an gages and other investments. 'l-t‘l e en of : OUTLOOK FOR WHEAT. acceptance of the terms proposed by financial depression, as is always the case whe . : the coal mine owners. values fluctuate, the steadiness amd absolute CHICAGO, June 15.—The Modern| Private cables, while ndting the ad- D : S 1 : “Cutting of winter wheat | Verse vflle,dl‘l'i;l‘ h.; u‘.‘e miners were reliability of these notes make a strong appeal. gradually dri ing back to work an is ':'I"‘.“'s“i ;‘°8‘:“:;‘;‘::";:‘!"':‘:§:‘h'; that there would be further fionkr-' sectio! Ve ences. e census report showing has Interfered. While rains at filling | domestic mill consumption of 439,854 Swa.rtzell, Rheem & Hemey Co. . | bales for May, was slightly above :"':; ":‘:e"‘c";‘:‘ 1&“‘;3":“&;“22":‘:‘1 the forecast, but was rot regarded 727 15th Street N.W. l;ndeiszlern portions of the belt. and as justiytng: Washington, D. C. ndications are that the final yield will . ot be much better than the last offi- | LIBERTY BOND CLOSING PRICES. The Nation’s Home Town . clal estimate. Quality is irregular. NEW YORK, June 18.—Liberty bonds Some loss in spring wheal's condition | clesed—-31ux, 88.40; first 4s, 0: 52 Years Without Loxs to an Investor ! is noted. In a number of sections in | seccnd 4s, 86.66: first . .gs, 8 sec- -~ i the Dakotas submoisture is deficient. fond 41y 86.80 third 4%s, 9146 / Some sections in Canada arc menaced | fourth 4%s, 86.88; victory 3%s, 98.36: J by locusts.” 7, victory 4%s, 98.. A — .