Evening Star Newspaper, June 22, 1921, Page 21

FINANC SECRETARY MELLON|NEW TESTS THE MARKET Second National Bank De- clares Extra Dividend. Bankers’ Meeting. BY L A. FLEMING. A new question to be answered by the national banks of the country to the statistical department of their re- spective regional reserve banks sug- gests tnat Secretary Mellon desires to “feel the public pulse” with a view of sensing the probabilities of success for a future note issue, perhaps for a more extended term than the last, which was for three years, and for a larger amount. Each week the national banks send to their regional reserve banks a full report of conditions as to lrans and discounts, secured by zovernment obligations and otherwise: govern- ment bonds owned: all other stocks and bonds owned, cash in vault, etc. including real estate. the character of deposits. etc. To this formula has now been added another. asking national banks to state weekly the amount of their holdings of short-term notes recently issued. The amount of such short-term notes purchased is, of course, known to the regional bank. and as each woek witnesses a decrease of such holdings it will. apparently. indicate the absorption of the notes by the general public, the Secretary of the Treasury will 8o understand it and be in possession of the information desired. It goes almost without saving that the sale has been most successful: that another block of bonds would be taken at the same rate or even at a slight concession. These short-term notes are more desirable for investment if held by the banks themselves than the call money market at the present rate. also more desirable than acceptances at their going rate. A junior bank official made the statement this morning that: “We have people coming in every day try- ing to buy three-year notes from us. We have taken care of those who placed their orders when the issue was announced and of some of our other customers, but we now refuse to part with our holdings. They are de- sirable from every standpoint: to hold. keeping the funds of the government that we hold invested at a good rate; to keep as reserves employed and for borrowing purposes, if it should be necessary.” Bankers themselves feel that Secre- tary Mellon’s test of the market for government securities has been en- tirely satisfactory. With call money at 5and in the open market lower, the government should be able to cut its last rate and sell a large block of notes. ‘Bankers’ Meeting. The District Bankers' Association will hold its first meeting since the convention. this afternoon at the Stock Exchange rooms. It is Presi- dent Larner's idea to bring up for consideration matters recommended at the convention and to appoint com- mittees to get under way projects that may meet with the approval of the as- sociation. The proposed building project will be discussed. It is understood that the Clearing House Association is favor- ably impressed with the proposition. Discussion will certainly attend any attempt to recommend a_clearing house bank examiner and it will probably become one of those sub- jects which R. N. Harper referred to as ‘“unanimously debated, but without unanimity of action.” Extra Dividend Deelared. Stockholders of the Second National Bank will be agreeably surprised when they learn of the action of their directors in declaring the regular semi-annual dividend of 3 per cent, plus an extra distribution of 1 per cent, both payable July 1 to stock- holders of record June 30. It has been the practice for the directors of the bank to make the declaration after the half-year, but the earnings have been so satisfactory that the payment with the end of the period has been ordered. This sign of progress in the 7th street district is encouraging, a dis- tinct evidence of the success of the management of the recently elected president of the institution, Victor B. Deyber. Acknowledges Able Efforts. George O. Walson, Victor B. Deyber, Joshua Evans, jr., W. W. Spaid, Harry Haynes and other young bankers who ‘were responsible very largely in mak- ing the recent White Sulphur Springs convention a complete success, re- ceived acknowledgment of their serv- ices with sincere thanks for the same from R. N. Harper, former president of the association. Dividend Declared. Firemen's Insurance Company has declared a semi-annual dividend of 3 per cent, payable July 1, books being closed from June 24 to July 1. Loeal Securities. Local stocks did not attract much at- tention on today’'s session of the local exchange. Capital Traction led in trading, with the price 86, while a lit- tle Railway preferred brought 60. Lanston was soft, declining to 73% to 73, which was the bid price at the elosing. In the bond section, Capital Traction s brought 87% and Potomac general €5 9475, SEEKS TRADE CONFAB. Alliance Asks London to Aid In- dustrial Movement. LONDON, June 22—The National Alliance of Employers and Employed of Great Britain has asked the government to summon a joint industrial conference Tepresentative of all the masters and men now engaged in wage disputes, with instructions to try to save the indus- trial situation from chaos. the same time it is understood lubor party and the trades union con- gress are considering calling a confer- ence in London next week to deal with the proposal of a general strike in sup- * port of the miners. DIVIDEND IS DEFERRED. PHILADELPHIA, June 22.—The di- rectors of the Pittsburgh, Cincinnati, Chicago and St. Louis railroad, a Penn- sylvania subsidiary west of Pittsburgh, today decided to postpone consideration of the regular dividend until later in the year. —_— REDUCES ITS DIVIDEND. NEW YORK, June 22.—The Chicago Pneumatic Tool Company today re- duced its quarterly dividend from 2 to 1 per cent. —_— BAR SILVER QUOTATIONS. NEW YORK, June 22—Bar silver, do- mestic, 99%; forelgn, 58%: Mexican dollars, 45%. LONDON, June 22—Bar silver, 35%4 per ounce. Money, 4% per cent. Dis- count rates—short bi 5% per cent. Three-month bills, 5% per cent. —— MOTION PICTURES. NEW YORK, June 22—American management and stockholders of Pathe Exchange, Inc., have acquired control of the seven-million-dollar company Pathe Cinema, Ltd., of Paris and will hereafter direct the policies of the latter organization. _— FOREIGN EXCHANGE. Received by Pri Open. Hig! losa. Adams Express. 36 38 36 35 Alr Reduction. 30 30 g Ajax Rubber. 23 2% A Alaska Juno. “li !.‘6 b Allled Chemical. i ?l:t; :3; bt e85 Allied Chem pf 4 mh D4 B4 3% 37 ; ‘Am Beet Sugar 9 28 56% bB5% 554 Am Beet Sugar pf. 8% Lol Am Hide & Lea pf. Am Ice.. aes Am International. Am La France. Am Linseed Am Locomot! Am Safety Razor.. 4 Am Ship & Com. ki Am Smelting. . .... 3% Am Smelting p! Am Steel Fdy, Am Sugar. . Am Sugar pf. Am Sumatra. Am Tel & Teleg. Am Tobacco. . - Am Tobacco (B).. Am Woolen. Am Writing . o Am Zinc & Lead... % Am Zinc & LA pf.. 24 Anaconda. . . Assets Realzn 1% Asso Dry G 1st pf. 62% Asso Oil ceee Atchison 9% Atchison pf. Atlanta Bir Atl. Atlantic Fruit Co. Atlantic Gulf. . Atlantic Gulf pf Atlantic Petroleur Beth Steei. .. Beth Steel (B). Beth Steel 8% pf. Bkiyn Rapid Trn Bklyn Rap Tr ctf: Butte Copper. Caddo Oil. California Petrol Central Leather. Centrai Leath pf. Cerro de Pasco. Chandler Motor. Chi Pneu Tool. Chile Copper. Chino Copper. Col Graphophone Cons Cigar. ....... Cone Distributors. 6% Cons Intl Cal Min. 4% Cons Gasof NY... 3% Cons Textile. n Cont Candy.. 1 Corn Produc! 62 Cosden & Co. 28 Crucible Steel 55 Cuban-Am Sugar.. 15% Cuba Cane Sugar.. 9% Cuba Cane Su pf... 29 Del & Hudson. ”2 Denv & Rlo G pt. 1% Dome Mines. ..... 16% DuSS & Atlantic.. 3 Endicott-Johnson. Eri 1 Erie P! Famous Players.. 55% Famous Players pf 80 Fed Mines & Spf.. 2% Fisk Rubber. Freeport Texas Gaston William: 1% Gen Asphalt. . 8% 85 Gen Electric. 126% Gen Motors. ¥4 Gen Motors pf. ) Gen Mot 6% del 6114 Gua Mot 7% ded. .. 0% Goodrich. . . 30% Goodrich pf. 65% Granby Consol. 18% Great Northern pf. 64 Great Nor Ore.... 26% Guantanamo Sug.. 8 Gulf States Steel.. 29 Haskell & Barker. 52 Hendee Mg B Houston Oil 4% Hupp Motors. 11% Illinois Central... 88 Indiahoma. 3% Inspiration. 82 Interboro Metro. 3% Interboro Met pf.. 10 Intl Agri Chem pf. 38 Intl Harvester.... 84 Intl Harvester pf.. 9% Intl Mer Marine. .. 104 Intl Mer Marine pf 47% Intl Motor Truck.. 29% Intl Truck 2d pf... 66% Intl Nickel. Intl Paper. . Invincible Oil 1sland Oil.. 3 Jewel Tea. 8 Jewel Tea pf. 195 Eznsas City Sou.. 8% Kansas C Sou pf... 49% Kelly-8pring Tire. 87% Kennecott. . . 18% Keystone Tire.... 10% Lackawanna Steel 354 Lee Tire & Rubber 25% Lehigh Valley.... €% Liggett & Myers.. 143 Loews Inc l;;/: Market SLRY...... Market St Ry 2d pf. Marland Oil.. .. Marlin-Rockwell Mexican Pete. Miami Coppe! Middle States Midvale Steel. . 7 Minn & StL ()... 104 Mo Kan & Tex. 2 Mo Kan & Tex pf.. 4% Mo Pacific. . 18 Mo Pacific pf. 36 Montgomry Ward. 18% Natl Cloak & Sult. 30 Natl Enameling... 6% NatlRysof M2d.. 4k Nevada Copper. 10 New Or Tex & M... N Y Central NYChi&StL. N Y Chi &St L1st. :!t NY Dock.... NYNH & Hart. 15% Norfolk & Westrn. 1% Northern Pacific.. 6% Oklahoma 1% Otis Elevator. 136% Otis Steel. . 10 Owens Bottle...... 28 Pac Development. 11% Pac Gas & Elec.... 51 -Am Pe! ;:-Am Pete (B). 4% Phillips Petroleum Plerce-Arrow. Plerce-Arrow pf. Plerce Oil. Pitts Coal. . Pitts & W Va. Pressed Steel Pressed Stl Car pf. 83 Public Servof NJ. 67 Pullman Co......« %% Punta Alegre Sug. 28% PureOil....... 8% Rallway Stl Spr... 76% o eggerggecs \ Star Office. Opea. High. Low. Closs. RemingtonType.. 19 19 19 19 Replogle St 20 2% 20 A% Rep Motor Truck.. 11 14 14 1 RepIron & Steel.. 4i% 6% MW % ReplIron & Stipf.. 79% 79% 0% 79% Royal Dutch. 8% 9% 4% 4TH StL&San Fran... 21% 21% 20% 20% StLouls Southwn. 21% 2% 2% 2% StLouisSownpf.. 30% 31 %% 381 Sazon Motors..... 3% 3% 8% 8% Seaboard AirLine. 6 6% 6 6% Seaboard A L pt. Sears Roebuck. Seneca Copper. Shattuck-Arizona. Shell Trad & Tran. Sinclalr Ofl Sloss-She! 5 Southern ifl Southern Rallwa; Stand Ollof NJ. Stand Oil N J pt. Stewart-Warner. Stromberg Carb. Studebaker. . Tenn Copper. . Texas Company. Texas & Pacific. .. 2| Texas & P C & Ol. Third Avenue. ... . Tobacco Prod Trans Contl Oil Transue & Wilms. Union Bag Union Pacific pf. 6 6k 6 United Alloy Steel. 20% 21 20%W 21 United Fruit. Wik 101 United Ry Inv..... 8% &% 8% 8% United Ry Inv pf. B BB United Retail Stry e3% 61 bk U S Cast Ir Pipe. u Bk I U S Food Prod. 1% 16% Lo U S Indus Alcol B3N t0t E0% US Realty. 4 U S Rubber 5ot U S Rubber 1st pf. U S Smelt Ref pf. U S Steel. .. U S Steel pt.. Utah Copper. Cian Securitles. anadium Corp. 28 6% %% Va-Car Chem Y% % A% Va-Car Chem a1 e 6 Wabash pf A. W0k 19% 19% Western Md. 9% 9 Y4 Western Md 2d. % 16 18 Western Pacific 4 wh 3% Western Union..,. 89 L) 8 Westhouse E& M.. MK % &% @% Wheeling & LE.... 8 M TR ™ White Motor. 81 31 0% 30k White Oil. 9% 9% 8w 8ha Wickwire Spencer. 15 15 15 (15 Willys-Overland.. 7 % ¢ 1 Willys-Ovid pt.... 2% 2% 29% Woolworth. . 109 1049 109 1094 Worthington Pmp 4% 4% 4 & CallMoney..... & & & HOURLY SALES OF STOCKS. LTT400 12M.... 406 40 667100 2p.m...702 100 —_— DIVIDENDS DECLARED. Stock of Pay- record. able. Abington-Rockland _Elee. Lt. 4 July 1 July 15 July 12 Acg.' 1 June 30 2 Auvg. 1 July 15 25 June 29 ngiand Tel. Co. June 30 & Elec. q. July 15 & Western Rwy. 3 July 15 July 5 Washington Stock Exchange. BALES. ion—10 at 86, 5 at 86, 14 at 3. pe—10 at 73 4. 10 at 73, Money—Call loan, Ga7 per cent. Bid and Asked Prices BONDS PUBLIC UTILITIES, Bid. Asked American Tel. i 8% ‘American Tel &y 8 1 Am. Tel. & | American 7Y Capital Traction K. | City and Suburban 35s. o Metropolitan R. R. 91 Potomac Elec. Light 5s, 87 > Potomac Electric cons. 5s. 84 88 Potomac Electric Power 6s. 931 o4 Potomac Elee. Power G. M. 9 25 Washinzton Gas 75 8 Vashington Gas 7ias. 02 10 Washington Rwy. and Elec. 45.. 61 o1y Wash. Rwy. and Elec. G. M. 6s. 9234 3% MIS : Riggs Realty 5s (short)...... 03 wee Washington Market 5 (1928.. 75 ‘Washington Murket s (1947).. 72 STOCKS PUBLIC_UTILITIES, d Telgs Amer an “apital District armers 5 Federal bt Liverty Lincoln Second ' ‘Washington SAVINGS B Commerce and Ravings . East Washington Merchants’ ... Secarity Savings eventh Street Savi Union Savings German-American .. National Union .. T] Columbia Titl Real Estate Title . 5 MISCELLANEOUS. Columbia Graphophone com..... & e D. C. Paper Mfg. Co. L o Merchants' Transfer a .o i Mergenthaler Linotype . 120 Old Dutch Market " com. [ 0ld Dutch Market pfd. B 9 Lanston Monotype 3 76 rity Storage . ington Market IREEULAR ACTON IN CUBA CANE TS NEW YORE, June 22—The bond|® market followed fairly closely the foot- steps of the stock market today. It was strong early in the day and inclined to sell off later. One of the features was the erratic fluctuations in Cuba Cane Sugar convertible 7s. For several davs past the street has had the rumor that the July coupon was in danger. The bonds had sold down yesterday on this fear as low as 65, and then rallied to 68. ‘They went up this morning to 69%, and ! stocks against short contracts prices SHORTS COVER AND THEN SELL AGAIN BY STUART P. WEST, NEW YORK, June 22.—Recovery went further in all the markets this morning. in cotton and grain as well as stocks. The upturn was sharpest, naturally enough, in shares of Indus- trial companies which have been most under pressure for the last month, and in which there was reason to as- sume the short intérest was the largest. In the course of the buying in of rose all the way from 2 to 7 points from Monday's low level, with a still | more spectacular jump in Mexican Petroleum. Oil shares as u group | were helped by the statement from the Standard Oil president that the ! petroleum output would be sharply | curtailed by September. This was about the only incident in the news of the day which had any close bear- ing upon the price movement. As is always the case when a pro- longed downward movement finally |3 yields to recovery, opinion was sharp- | ly divided between those who thought it was merely ttmporary respite and those who regarded the turn as likely | to last. There was the same varying | Judgment on the situation in the last | week of December. Then, as now, it was a question whether liquidation | by individuals and syndicates who had suffered by last autumn's decline, and were more or less forced to sell, was detinitely over, or whether i only momentarily ceased. Outlook Not Hopeful. The market answered this, then, by nearly a month of well sustained re- covery, which was checked toward the close of January. first. by a tight- ening of money rates, and second, by the discovery that trade recupera- tion had not set in in the manner expected. The essential . Qifference between conditions now and those of six months ago is that while on the one hand there is no danger of any check belng imposed by the money market, the feeling regarding the trade outlook is not as hopeful. This does not mean that the mass of in- tciligent sentiment in Walil strect is pessimistic regarding th: future, but tia.ply ihat so many disappoiutments have occurred in the trade movements since the first of the year that peo- ple are more cautious about setting dates when recovery in this line of industry or that may be expectad. Turned Down. The high prie were reached by midday. By t t'me the Cderr from the ahort interest had prot.y well run its course, and some of the trading element. which had bought yesterday and this morning tor a turn. were ready to taka profits. This led to an irregular reaction. with some weakness developing in a few individual stocks, notably the Pierce Arrows, American Smelting and Cuba Cane Sugar. The weakness in the last named rather curiously followed immediately the statement from company headquarters, dispel- ling the unfavorable rumors which have been going around for the last week or so. This statement an- nounced that funds to meet the July coupons on the 7 per cent convertible bonds had already been deposited in bank. Pneumatic Tube Company cut its div- ident and the stock dropped 9 points. Steel common was off to 2% and the general market weakened in the final hours. S S — CURB STOCKS. Quotations furnished by W. B. Hibbs & Co. A1215pm.~ Aetna Explosives . Allied ON Arkansas Big Ledes Boone Ofl . Hoston and M. Caledonia ... . Calumet and_Jerome . 318 i Roston and Wyoming 11-16 1 Carton Kiee! -] rib Srndicats S 5% | rib Trading 4 st Car Light and 1y aml Cities Serviee (new) 12 13% | Cities Rervice (old). . E 120 Citles Service pfd. Dy a Columblan Emerald . o & 1% | Consolidated Copper . 114 1'% Continental Mot 5 el Cresson Gold 1% 1% ¢ Davis-Dalr . " b Tominion Ol 7 9 Durant Motors 22 24 Elk Rasin .. Ay 63 Engineers’ Patroleum . 12 12% Fureka Croesus 29 0 Farrell Coal 13 1B ¢ Federal 0il 1% 1% Fensland Ol 914 1 Gilliland Oil . 14 18 1 9 9 4 .‘A % 7 1 3 Intercontinental Rubber S 4 8 International Petroleum (new).. 13 13% Jerome Verde 318 5-16 Kay County Gas & 1 Lak 1 2 24Y m* 2y 2w 1 ) 7 8 2 3 . 2 3 124 128 T 81 New l;om‘lg;l G ‘: 18 Niplssin, ines Co. % 41 Noble Oil and ¢ 18 % North Amer. 3% ) % Elo) Perfection Tire - % Producers and Refners 15 itado vom. .. - . Radio pfd. . Tay SHorcates % Ryan Consolidated Salt Creek Product Salt Creek (new) =3 X FFERE OFR R i F P lusnanS B aal e Bl amoBa e b % % 16 1 ::'» 5 N u. U. 8. Light and Heat pfd TUnited Profit Sbaring o 5 T. 8. Ship Corporation -16 8. Steamship . ‘l‘d 318 5o 15-18 l* ) 7 124 12% 861 8614 S“ Mh ‘g* “‘:% ’fi?x?za:"i cff'm; & oL Bwift 3 U:lm Carbide llé ————— which, after all, had not been by any means sure. Paris Gs Strong. Unusually heavy transactions in City of Paris 6s at & new high of 99% marked further accumulation in preparation for their retirement at par. City of Berne 8s rose a point to 963%, while Zurich 8s were fractionally lower. French, Danish and Swi erty list was a_trifle higher, while victorys were about stationary. Mexican Petroleum 8s im moderately along with the rise in the tock. American Telephone and Tele- | graph 58 were again in demand at a half point advance and Steel sink- ing fund 6s were up from 94% to 94%. Goodyear 85, which had been weak yesterday, weré a shade better and Packard Motor 88 were steady, just under 95. Irregularity in Rails. Among_ rail bonds Missouri Pacifio 4s rallied from 513 to 52, St. Louis and San Francisco incomes continued their recdvery. Erie convertible As were up nearly a point to 36%, and ‘Wabash first 68 the same amount to 83%. board Air Line adjustment 58 made a new low at 29%. Atlantic Refining 6%s were again in demand up to 100%, which brought them to a new high point. No information was given out up to the close of business as ts how the offering of $7.939,000 4 per cent city of Chicago bonds were soing. Siee Wl s lhud" Grain, P-roduca; and Live Stock YORK STOCK EXCHANGE. ivate Wire Direct to The Low. Ck TODAY’S BOND PRICES. Noon prices reported to The Star over direct New York-Washington wire by Bedmond & 00. | go; Oity of Paris 6s 1921. French Government 8s. Government of Bwitzer] nd Irelapd 5% of ;B and Ireland 3% Armonr & Co. 4in. . o7 % i Afchison, Topéka 2 Atlantic 'Conat Line 7s Atlantic Refining Co. 6 Baitimore and Ohio conv. Baltimore and Ohio 6s Baltimore e i 3 Jiinoly Central Sas r.ternational Mercantiie Marine e Inter. Rapid Transit 1xt avd ref. bs Louisville and Nashrille 7s 153 Miwsourl, K Texas 1at 4 Missourl’ Pacific general 4x. New York Central 7s 1930. York Central deb. ts. w York Telephone 6s. . rfolk and Western cor Nurfolk_and Western conv. Northern _Paeific 4s... kard Motor, Car Co. 8 1931 ia ds 1068..... 3 en. Reading general St. Louis and mortg 4. n b n & GRAIN AND PROVISIONS, BALTIMORE, June 22 (Special).— Potatoes, white, No. 1, per cwt., 50a 60; cobblers, 50a60; McCormicks, 50a 60; No. 2, 25; new, per barrel, 1.00a 2.75. Beans, green and wax, per bu., 1.00a1.25. Caulifiower, per bu, 2.00. Corn, per crate, 1.00a3.50. Beets, per bunch, 3a5. Asparagus, per doz., 1.20a 3.50. = Cabbage, per crate, 2.0022.50. Cu- cumbers, per box, 1.50a3.00. Eggplant, per crate, 2.00a3.50. Kale, per bu., 40a50. Peas. per bu, 2.50a3.50. Pep- pers, 2.00a3.00 per crate; spring on- ions, per 100 bunches, 75a1.00. Spin- ach, per bu. 1.50a1.75. Radishes, per 100 bunches. 1.50a2.00. Squash, per basket, 90a1.00. Rhubarb, per 100 bunches, 3.00a4.00. Tomatoes, per crate, 1.00a4.00. Ap- ples, per barrel, 2.00: loupes. per crate. per crate, 2.00a3.25. Grapefruit, pe: I;osz, 3.00a5.50. Oranges, per box, 3.50a Blackberries, per quart. 18a25 Raspberries, per quart, 30. Cherries, per_quart, 10a25. Watermelons, each, 25a70. Pineapples, crate, 4.0026.50. Selling Prices at Noon. Wheat—No. 2 red winter, spot. 1.56; No. 2 red winter, garlicky, spot, 1.50. No_quotation on June and July. Sales, 1.238 bu. of No. 2 red win- ter. garlicky. old, at 150 per bu. 1,308 bu. of No. 2 red winter. garlicky, old, at 1.51 per bu. Bag lots of new wheat, as to quality and condition. at 1.00, 1.06. 1.07, 1.09, 1.10, 1.12, 1.13, 1.15, 1.17. 1.20 and 1.2. Corn—Cob. new, per bu. yellow. 3.80a3.85 per bbl.; for white, 15 to 20 per bblL | lower. in carload lots: contract corn, spot, 71%: No. 4. 68%: cob corn. vel- lo . 3 or better, domestic, 75 Oats—No. 2, white, 46%: No. 3, white, 45%. Rye—Bag lots of nearby rye, as to quality. 1.20a1.30 per_ bushel; No. western export. spot, 141 per bushel; . 3. 1.38 per bushel. Ha: 1 timothy. nominal; stand- ard timothy. 22.00223.50: No. 2 timo- thy. 20.00a20.50; No. 3 timothy. 14.00a 19, No. 1 light clover. mixed, 19.50a 20.00: No. 2 light clover, mixed, 15.00a | 19.00: Ne, 1 cover. mixed, 19 20.00; No. 2 clover, mixed, 14.00a17.00; No. 11.00812 00 N~ 1 clover, 15.00418. No. 2 clover, 12.00a13.00; No. 3, 10.00a 1170 <umy'e hay. 10.00a14.00. No. 1, weak: No. 1 straight ry. 1 tangled rye, 17.00; No. 2 tangled rye, 16.00: No. 1 wheat, 15.00a15.50; No. 2 wheat, 13.00a13.50; 1 oat, nominal, 15.50a16.50. CHICAGO. June New upturns in wheat prices took place today as a result of generally dry hot weath- er. Bullish sentiment was also pro- moted by strength in the New York stock market. Selling, however, broadened out on bulges, and kept the market from becoming one-sided. Opening quotations, which ranged from 1% to 1% higher, with July 1.29% to 1.30 and September 1.23% to 1.241%, were followed by slight fur- ther gains, and then somewhat of a reaction. Corn hardened with wheat, opening % to % higher, September 65% to 65%, and later scoring an additional advance. Oats were firmer, reflecting the ac- tion of other cereals. After starting % to 1% higher, including September at 40% to 41, the market continued to_rise. Provisions averaged lower, in- fluenced by weakness in the hog mar- ket. The corn market receded later with wheat. Prices closed unsettled ¥ to % cent net lower, with September, 64%a64%. Subsequently buying orders dwin- dled, and the wheat market declined. The close was unsettled at the same as yesterday's finish to 3 cent lower, with July, 1.28%al.28%, and Septem- 2%al.22%. Qe lign Y o o a8% 39 LN 415 a0 408 NI RK, June 22.—Flour quiet; spring _ patents, 8.75a9.25; _spring clears, 7.25a8.00; soft winter straights, 7.15a7.50; hard winter straights, 8.25a 8.75. Lard firmer; middle west, 10.45a 10.5.’: Other articles unchanged. —_— MONEY AND EXCHANGE. NEW YORK, June 22—Prime mer- cantile per, 61%a6%. Exchange Ir- rsz‘ulllfl“t‘erlln‘ sixty-day bills and commercial sixty-day bills on banks, Low. 128 122 .6t el Commercial sixty-day bills, 3.70%. Demand, 3.74%. Cables, 3.75%; francs, demand, 8.02; cables, 8.04; Belgian francs, demand, 7.99; cables, 8.01; guilders, demand, 33.15; cables, 33.25; lire, demand, 4.95; cables, 4.97; marks, demand 1.41; cables 1.4 Greece, demand, 6.17; Sweden, demand, 22.35; Norway, de. mand, 14.30; Argentine, demand, 30.75; Brazilian, demand, 12.00. Montreal, 123 per cent discount. Government bonds irregular, bonds steady. Time loans steady; sixty days, ninéty days, six months, 6 per cent. —_— DAIRY MARKETS. oune ; store packed, S;lry"pflnu. 20a22; process butter. 24 YORK, June 22.— Butter— Steady; receipts, 14,548 tubs; cream- ery, higher than extras, 343%a35; creamery, extras (92 score). 33%3a34; creamery, firsts (88 to 91 score), 3la 33; packing stock, current make, No. . 19. ‘Eggs—Firmer; receipts, 30,084 cases; frosy gathered, extra firsts, 2815230% ; do., firsts, 231,230; state, Pennsylvania and nearby western hennery whites, firsts to_ extras,- 30a39; do., browns, extras, 33a34; do, mnearby gathered browns and mixed colors, firsts to ex- tras, 25%a32 Cheese—Steady; receipts, 3,654 box- es; state, whole milk, flats, fresh, spe- 15%a16%; do., average run, 143 2163 ; state, whole milk, twins,’ spe- cials, 16%816% ; do., average tun, 143 G bt A Ei R FINANCIAL, You Never Charge Off The Connecticut Mutual 15th & H Streets 509 Seventh Street N.W. Sinclair Cons. Ofl Corp. " D Py Sioclair Cons, O Corp, T % 5 epreciation on an uIRerR Facite 73|l Life Insurance Company In i 5 % . vestment in o -—l}a returned to its “‘Y; - 35t F1 holders more money than i Pton, Pacite W » has received from them in Irst P B R Bt lll premivms. " record sniaue United states 'a‘t'eg" :.-?.' L 2% ||| among Life Insurance com- acuum o icvin 015 2" (W paics: M N a2 8 i It of;ercs a thorqughREd:' O ages SHORT-TERM SECURITIES. ?::l'&‘:i’"s OESE 0 A NP (Becorted by Hedmoed & On.) f 2 1 They Mean Absolute Amerion T % Tl o G R | E. D. Sampson, Gen. Agt. Safety, earn American Tel. % Tel. s me Co. G 1978 26 > ARG EE S 2, || 125 Woodwrd Buildng 7 o8 . . # /55000 Life Policy, $57.35 0 ol e : s 3 . Ey, E* i 5ROV GOFF, iasurance Adviser and require no ey or attention B8 361 1 ann Luchs 1 u 3 3, Securities and Commodities Sh on & D e Review Free, Upon Request. 713 14th Street e 19 1:3 Main 2348 oo oy | [N b 53 Il A.A.Housman&Co. | | iz Sl 20 Broad Street, New York 09 100 o MEMBERS: . 99 100 : 238, oy | ll New York Stock Exchange— H man & C A1 28 PAi Ml New York Cotton Exchange— arri 0. | » o4 N. Y. Produce Exchange— MEMBERS: 4 :3 b N. Y. Coffee & Sugar Exchange Dok —Chicago Board of Trade. New York Stock Exchange k3 Assoctate Members of Liverpool a !g“ Cotton Association. i 111 Broadway, New York 5 . Washington Office Washington Office Main Floor Corrid X LOCAL WHOLESALE MARKET. 2 = COLORADO BUILDING { Eggs—Strictly fresh, per doz., 20a30; Woodward Building X \ average receipts, 27a28. 5 Telephone Main 1603 Live poultry—Roosters, per Ib., 18; Telephone Main 2040 :::l:f;nw?a{b i CHARLES R. ALLEY, M| Gr bus: ynuUr d $hrng, 2o b, ens & 1we-up business invite ens, winter, per b, 35440, ressed ] - e Saed poultry—Fresh killed spring v ers, per 1b., 22; turkeys, : keats, young, each, 60a75; chick- ens, winter, per Ib., 35840, 000—7% fatereet. 1o suma of $1.000 to 55, Pork—Dressed, small, per 1b. 15; |30, eecared by et deed of trust on real estate medium, 13214; heavy, 10a13; live, 3%. | Joseph I. Weller 82 Wamn. L, Live stock—Calves, choice, per 1lb., %; lambe, choice, per Ib., 11 Green fruits—Apples, per bbl., 3.00a y 10.00; western, per 'box, 3.5684.50; fornia lemdns, per box. 3.00a9.50; Overa ! California oranges, per crate, 6.00a i 6.50; Florida oranges, per crate, 6. | Quarter 6.50; grapefruit, per crate, 5.00 I ] of a strawberTies, per quart. 20a35; peach- es, per crate, 3.00a4.00; blackberries, per Century guart, 20a35; raspberries, per quart, 40 | f | Experience peCESiables—Fotatocs, new, No. 1. A in Property el - .90, 1} . crate, 1.00aL50; celery, per dos., 1.00a |fl P er ment 1.50; Romaine iettuce, 1.0021.50; cym- Descri ptive ::‘:‘!' per JSate, 150a3.00; spinach, bookl £ i T'00a1'30; peppers; per crate 5.50a550; 00 cl '_:O above ‘ Proper Property Snions, :'f:'?ié 2 new eablase oot securities may i Management crate, 2.50a2.75; cucumbers, 1.50a3.00; 1 i m’;" i) 2.00a3.00; m‘f“:‘" be obtained b_V | Experience is, perhaps, the 2.50a5.00; "nearby. per doz. 1.00a2.25 calling at our best teacher for us all. —— Statistical Li- i Our experience in managing COTTON MARKETS. b , rental roperty extending NEW YORK, June 22.—There was rary, Room ({j| A further covering in the cotton market 201, Hibbs over;a petiod ot & quasterof during today's early tradins. Active ax < S 1} a century has taught many . months sold about 30 to 36 points net Building. ways to improve upon our | higher before the end of the first hour, i| service. i ;;‘.nui J‘g&wml hing ulfo and October ! i ' “nl:”ufl“t‘!; “mmu. Nu'-hm'.'; H If we manage your rental | cofig:g ‘ene:’llyflnvnr;h;@ = property, you secure the | LeD 4 56 . . October, 11.86; Daeemr:r. 1‘:‘1’”; .m:.‘.. benefit_ z_zf this experience at | ary. 12.42; March, 12.95. no additional cost. Apprehensions that the gulf storm § H would cause harmful rains in the Let us give you the details. | southwest steadied the market later BT ! on of the weekly i report of the weather bureau. Pri | made new highs for the day during B’ F ® SAUL Co‘ | the early afternoon. Juy sold up to 1 1126 amd October fo 12.16: or 38 Property Management to 43 points net higher. 934 N. Y. Ave. N.W. LIVERPOOL, June 22—Cottpn— o Ko SATE.. B Wa 4 Spot, quiet; prices steady; good mid- | dling, 8.06: fully middling, 7.66; mid- g 3 In: , 4.01. es, g -55; ober, H anuary, usiness man o vashing n, 8.20; 8.32; May, 8.40. A a little over $2,000 on deposit with NEW ORLEANS, June 22.—The cot- Him to Invest us. On our advice he purchased ifl"‘?h“f:‘ had a llmr&‘ tone in the Hi o two $1,000 Bonds, which net him 37 Doinis in he drst heus of the see. is Money in about 7%. At the present market sion, July rising to 10.70. Good Bondc price he bought them for iess than Fum '?:‘med ltu;l:; {{’1’:’-1}“: $1,600, leaving a few hundred dol- Om' r, 1134 Mh, mber, i Jan- That Netted lars in his savings account. JULY 2 LEGAL HOLIDAY. Him 79, WITH e pBALTIMORE, June 231-—Gav. Ritchle SAFETY Is . Part of Our & proclamation declarin, ul . 2, the day of the boat races off Clai- Service Bl e rocl nasmuci H i gulydl;vmch m“n‘? ¥ s.fih‘: 'l:nly Dime Savers Supplied legal holiday, follows the i irms and the half-holiday on Saturday, he recitol ndiyiduats and £ m gefllg‘ed to make Saturday, July 3, & 0] LY. e e e . E. H. Rollins & The Second Natlonal Bank Founded 1876 ‘The Bank of Utmast Service” 416 Woodward Bldg. ’ The Van Camp Packing Company, Inc. First Mortgage 8% Goid Bonds Due April 1, 1941 ' Price 99 and interest to yield 8.10% Descriptive Send for Cireular M. French Republic s, Hamburg—American Line Are you matisfied with 3% You can be sure of more. Communicate now with Elliott Edson Fisber Franklin Square Washington. D. C. 22 Not redeemable prior to maturity, June 1, 1941 Total issue $100,000,000. Sinking Fund of $9,000,000 2 year for five years, payable monthly, for the purchase of Bonds at not exceeding par and interest. Price to yieid over 8% Descriptive Circular praparet 1 upon request Subseriptions for the 81st Issue of Stock Being Recelved Shares, $2.50 per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANE P. E, Sec’y. . ‘Washington Office Guaranty Company of New York 811 Fifteenth Street, N. W, ™