Evening Star Newspaper, June 27, 1921, Page 17

P —— PROTEST CHANGES Am Beet Sugar. Am Bosch. ... Am Can.. Am Car & Fdy Am Druggists Am Hide & Les Am Hide & Lea pf. Am International. Am Linsced. Am Locomot Am Safetv Razor. Am Smelting.... Am Smit Sec AL Am Steel Fay. Am Sugar. Am Sugar p Am Sumatra 2m Tel & Teleg Am Tobacco. . Am Tobacco (B).. Am Woolen. .. Would Hamper Board’s Action. BY I A. FLEMING. Time and again bankers have warn- ed against tampering with the federal reserve act. It has served its purpose better than even its creators had an- ticipated, so well, Indeed. that the banking fraternity. other than a small part of it opposed to par col- ection, are jealous of any attempted changes There is a measurd in the House at this time to prevent a regional bank from charging more than 5 per cent 0 ihs % o5 for loans. under any circumstances. AnWrlng Prat. B8 O% wu This action would recreate the Very|assets Realzn 15 1w 1% conditions that brought the efforts at | Asso Dry Goods... 28 28 8 fiu deflation and bring a money panic, the | Asso Dry G Ist pf. 63t 6% 63 very thing the act was passed to pre- | Atchison. .. 9% ToW 8% vent. Atchison of. 6% 64 ‘IG'@ Likewise it is proposed to amend|atjantic Cst Line.. 84': 841 8% !!\C act to restrict the authority of the Atlantic Gulf. U oas 251 2 be:“;‘:—“l l-!h Atlantic Petroleunr 14% 4 56 po Raldwin Loco..... 69z have no power or authority the amount or class of eligible p; 4 member bank may rediscount. long as it complies with the applies to member banks. ! Baldwin Loco pf. . Balto & Ohlo. . Ralto & Ohio pf. Reth Steel (B) order adopted by two-third Rkiyn Rapid Trn. members of the Federal Bklyn Rap Tr ctfs. Board, a copy of which shall be m Butte COpper. ... o all banks affected thereby id | Butte & Superior n% I resolution shall not tak ‘t until { BUHe S o 1 thirty days after its receipt by mem- | BULEEICE: 5ot . o ber ban! Says the Guaranty Trust Company, in commenting on the second amend- ment: “Such arbitrary regulation would be fraught with possibilities for mischief and worse. The advance notice of a forthcoming restriction upon_eligible paper. under conditions which this - proposed amendmens would create, would induce a rush of demands upon member banks for commodations, hefore the restrict skould become effectiv “Prospective borrowe to obtain accommodation restrictive regulations were placed in force. Instead of aiding in sta- izing of credit conditions, the effect such an amendme: ould be to weaken the federal re <ystem as a preventive of fi “Whatever its federal reserve Calumet & Ari: Canadian Pacific. . Central Leather. Centrai Leath pf.. Cerro de Pasco. Chandler Motor Ches & Ohio. ... Chi & Alton. Chi Great Westn.. Chi Mil & St P. Chi Mil & St P pf.. Chi & Northwn. Chi R I & Pacific.. ChiRI& P 6% pf. Chile Copper-... Chino Copper. Coca-Cola. .. Colo & Southern.. Col Gas Col Graphophone. Col Graph pt.. n would wish before the J the ot has proved provi- dential for the United States. It pro-|{ = Vided a banking system _strong | Comp Tabulator. = enough to withstand the greatest ConsCls-h;\ . K2 credit str: experienced in this | Cons Gas of N ¥ % country, and not only successfully |Cons Intl Cal Min. n functioned during the period of dan- |ContCandy....... 3 Corn Products Corn Products pf. Cosdefi & Co.... gerous inflation, but also met the acid test of deflation with equal suc- cess. It cannot continue to function ! a7l <o creditabl if every detail of power | cryeible Steel. 13 for the Federal Reserve Board to | ruchie Steel pf. . 7 regulate credit is minutely Pre- | Gupan-Am Sugar. 16 ribed by la Cuba Cane Sugar. 57 Credit Semi-Annual Dividend. Ciba Cane Supt. 2% Member banks of the fifth regional | Dome Mines..... . 6y district, federal reserve em. re- i gpdicott-Johnson. B5Yy ceived notice this morning that the lprie 125 semi-annual dividend of 3 per cent|gric gt pt. 18 Open. High. Low. . Adams Express... S% 3% 354 3% Adv Rumley .18 non Ajax Rubber. 23% 2% B Allted Chemlical... 88 s 815 - Allis Chalmers. ... 81 % W% Allied Chem pf.... 8 ;':,,, ::u Am Agr Chem 37% s Two Amendments Proposed |im AerChem. .- 300 e ¢| ket today and Saturda THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE. Received by Private Wire Direct to The Star Office. Open. High. Low. Close Union Pacificpf... €% 6% 64% 64% United Fruit..... 107 107% 106 -106% United RvInvpf.. 20 20 20 20 United Retail Strs. 54% 64% 63% 63% USFood Prod.... 17% 1% 16% 17 USIndusAlcohol. 5 54 b1 614 USRealty........ 45% 46 46% 46 U S Rubber, 86% B5% Bl Bl U S Steel.... 3% % B T4 U S Steel pf. 106 106 105% 105% Utah Copper. 8% 48l 4TY 5% Utah Securities... 9% 9% 9% 9% Vanadium Corp. 28 28 21 2% Va-Car Chem. A% 2 U Va-Car Chem pf... 66% 66% 6% Vivadou. 6% 6% 6% Wabash % % Y% Wabash p! 20% 20 0% Western Md...... 9% 9% Western Pacific.... 2% 2% 8% 2% Westhse Air Brk... 89% 89% 8% 8% Westhouse E& M.. 44 & @ @ Wheeling & LE 8% 8% 8% &% White Motor 5 30% 30 30 9% 9% 9% 7 6% G WHl1lys-Owld pt. 29 B/ 8% Wright Aero... T 7 6% 6% High. Low. Last. Call Money..... &5 6 & HOURLY SALES OF STOCKS. f11am 167 500 12 M.... 228 500 1p.m. 336 500 2 p.m... 370 200 —_— OIL STOCKS. Quotations furnished by W. B. Hibbs & Co. Bid. Asked. merican Oil Co. (mew).. 15t 16 Atluntic Refining _Co. 3 850 Borne-Scrymser C < 375 Buckese Pipe Line Ce Cheseborough Manufacturing Continental 0il Co. Crescent Pipe Line Co. umberland Pipe Line. dreka Pipe Line. tGalena-Signal Galena-Sigmal Oil C | Tllinois Pipe Line € Indiana Pipe Line Co. 1 “Transit Co. ork Transportation o, rairie Ol and G Pruirie Pipe Line Co. Solar Refining South i 2 i Sontwest. Peun. Pipe Line Co.. Standard Ol Co. California.... Standard Oil Co_ Indiana. tandard Oil € nsa: tandard Oil Co. tandard Ol Co. tandard Oil ¢ andard Oil C wan & Finch Co. Union Tank Line Co. Yacuum 0il Co. Washington Uil C *Ex div. S — BALTIMORE LIVE STOCK MARKET. UNION STOCK YARDS, Clare- mont. ‘Baltimore, June 27.—Cattle— Receipts for week ended noon toda: were 2,996 head, agains 732 head last week. Receipts, 97 carloads for market for week; 31 carloads for mar- With continued light supply market declined on all kinds and grades of | steers from 50 to 75: cows and bulls strong at 25 lower; part of steers of- fered not sold. i Steers—O] Tvutcher, H common, . 700 to T common good medium, 6.00 to 0 to 5. Heifers— ir to good, 6.00 to medium, 4 {375, Bulls—Choice, 3.00 to 5.50: good, 4.00 to 4.50; common to medium, MARKET IS QUEE, | PRIES ARE SOFT Feature of Day Is Sharp Rally in Sterling Exchange. Notes. BY STUART P. WEST. NEW YORK, June 27.—The stock market started in this morning some | points up from the Saturday closing. At the high level reached during the first hour the leading speculative issues had risen from last week’s low all the way from 4 to 12 points. It was the character swift rebound of a market which has been pressed down too far probably by short selling | and probably by liquidation that was cither involuntary or ill-considered. The rule under such circumstances is for this sharp recoil to be followed by a setting back of prices and a greatly diminished trading volume. It was this sort of setback which Wall street cxperienced today The logic of such a movement is{ that while the main selling may be over, investors are unwilling ~and| speculators timia about following up[ the first rally. The top prices of this rally had been paid by frightened traders on the short side, and this covering demand having been satis- ficd. there was nothing to sustain the market's higher level. i Unlike last week, when the stock exchange was the center of interes it was not the stock trading, but the foreign exchange movement, which furnished the main incident of the day. Sterling exchange rose over 3 cents in the pound, the entire gain occur- ring before New York was open for business. ile there was some re- action later in the day, the principal part of the rise was retained. e There were two explanations to be given for this upturn, first, that it was a response #o the indications of an carly settlement of the great English coal strike, and sccond, that it fore- shadowed u recession from the pol- icy of requiring Germany to make the | bulk of her cash settlement no repara- tions account in dollars. Suggests End of Strike. The fact that the advance ‘in ster- ling was much more ektensive than the rise in continental rates—which was very moderate and perfunctory— | seems to suggest that the English la- bor settlement was the more impor- tant factor of the two. But there is no reason to doubt the press reports of the last few days, which have stated that the repara- ! tions commission the mistake it made in bringing about sudden de- mand for American dollar_credit of such urgency as to completely des moralize the exchange mark Tt m have been offic Wasain ton that had something to do with bringing home to the commission th ¥ handling of thines and im- ng tha damage likely to result he international trade if the titude was maintained But in any event it now that the of the violent weeks ago in is fairly disturbance the of thre exch Noon prices reported to The Star over direct Atlantic attimore and Ohio 6: Chesapenke and Ohio gen. 4% @ will be no rep.cition | . . TODAY’S BO ew York-Washington wire by Redmond & Co. oast Line ‘Atlantic Refining Y Haltimore and Ohio con d Ohio conv. 4% and Quiney St. Paul refdg. Paul con 41, cago Union Station 6 ated Gus T8....... e and Tludson 7s 1930, general lien 4x. ar Blectric s Misxouri, Mixsouri’ Pacific_general 4 Packard Motor. Pennsylvania Pennsslvania R. R. 615 Pennsslvania 75 of 16: mortgage Pennsylvania gen. teading al 4 St and San Air Line refig. 4x ir Line ad). 5x. Grain, -Produce GRAIN AND PROVISTON: BALTIMORE: June (S Potatoes—White, - 1, MeCormicks, potatoes, per bbl green and W beets, per 100, s, per doz. age—Per head, 4a3; new beans, per bushel " 3.00a pring onions, per 100 bunches, L60; cauliflower. per baske umbers, 1 00a3.00; spinact peas,” per bushel, crate. 1.00a3 . per 100 bunches. 2.0 ot 100 bunches, 4.0025.00: ap- | 0045.00; oranges, per grapefruit, per box, Blackberries—Per raspberries, per quart. ries, per 1b. 1042 box. 1.00a3 ¥ a3.00; w cach, . per crate, 4.00a7.00. Selling Prices at Noon. t winter. spot, -r. garlicky, spot. wheat, 1.29 bid. 1ots of new whe ndition. at ¢ . 1 1 reduction tern patent mills flour. of and w Sinelair Cons. Ol Corp. 7%s 1925, Noutbern Pacific 1st ref. 45 Southern Pacific conv. 48 Southern Ratl b United TUnited States N United States Steel S. ¥ Gs. Vacuum Oil Corp. 7% 1838, Virginia-Caroll Wilson & Co. 1st Gs. American Tobacco Co. 7% American Tobacco Co. 7% Anglo-American_ 0il Bethlehem Steel 75 1922 Canadian Central Arg Chicazo, I, Copper Export Copper Copper Fxport « Cudahy Packing Co. . ¢, MONDAY, JUNE 27, 191 ND PRICES. Railws ific 63 1928. ten Rtubber bber 7K . Chemical 7igs 193: SHORT-TERM SECURITIES. (Reported by Redmond & Co.) Americ Anaconda Copper 6% 1929 Armour & Co. 7s 1930. Rethlehem Steel 7 1 ifle fie 192 C. & t. Louis 6 % of Nes ¥ Ry C; r Export 75 1923 . Goodrich Tn 1925 Val 0il 781923 Kennecott Copper Tn Ligggtt & Myers Toh. Trocter & Gamble Tx 1922 & ¢ uthern Rajiway 6 19: estorn Bell Tx 1925 o83, 1001 k3 WY and Live Stoc LOCAL WHOLESALE MARKET. 9T ge receipt Live poultry per spring, per b, 45 30; keats, young, ens, winter, per |b., 3! Dressed poultry—Fr chickens, per 1b., 53a58: hens, per Ib.. 32, ers, per Ib., 22; turkeys, 3sa 40; keats, young, each,'60a75; chick- ens, winter, per Ib.. 35a40. Pork—Dressed. small, per 1b. 15 medium, 13a14; heavy, 10a13; live, 8%. Live stock—Calves. choice, per 1b., lambs, choice, per Ib., 11. | reen fruits—Apples, per bbl. 10.00; western, per box, i lemons, per box, 9. H ifornia oranges. per crate, 6.004 | i Florida oranges, per crate, 6.00a : grapefruit, per crate, 5.0026.50; peach- blackberrics, per ! raspberries, per guart, 40! Vegetables—Potatoes, new, No. 1. per barrel, 25a3.00; yams, per bar- rel, 6.00a7.00: lettuce, nearby, per crate, 1.00a1.50; N ork lettuce, per e . 1.00a 1.00a1.50; eym- per crate, 1.50a3.00: spinach, 4.0025.00; Kale, per barrel, s. per crate, 2.50a3.50; _per barrel, per lb., 18 chickens, per b, | lled spring : Romaine' 1 ings, er “barrel, 25; n ettuce 6.00210.00; onion, or crate, 1.00a4.00; Is Your Money Earning 10%? i FINANCIAL, — *17 SAFETY 0T, ARK US FOR DETAILS OF A SEA ED,' WELL SECURED BOND OF WELL NSTITUTION. YIELDING THIS | N. Ask for Circular T-807. For full lars_nddress Box 2628, Ktar office —not only a promise, but an established fact when you invest in FIRST TRUST NOTES L Co-Operative Building Association ' Organized 1879 41st YEAR COMPLETED Annets . $3,272,080.87 Surplus $1,005,322.59 INTEREST Gratifying Results From Systematic Saving —Save as you earn, and you will begin to get ahead in a fipancial way and be prepared for emergencies that may arise later. Subscriptions for the 815t Issue of Stock Belng Ieceived Shares, $2.50 per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, President FRANK P. REESIDE, Sec'y. 7% —in your mail the day it is due. SHANNON & LUCHS 713 14th St—Main 2345 ¥dl) SV ENS' IINZGS BANK : PROFIT-SI $100 1 1F 0 MINATIO DESIKED. Vor particulurs Harriman & Co. MEMBERS: New York Stock Exchange 111 Broadway, New York Washington Office COLORADO BUILDING Telephone Main 1603 TRAVELERS’ CHEQUES Aresafer than cash to take on our vacation—cashed anywhegp. In all demominations, $10 wp. 1336 N. Y. Ave. Give-up business invited G. B. CHIPMAN T R R, R a2 on their invested capital in the Stock | pumous Players.. 00 £0.4.00. Cows—Choice, 4.50 10 5.0 rioad lots Freeport Texas... Gaston Williams. . jGen Asphalt. Gen Asphalt pf. Gen Cigar. Gen Flectric Gen Motors Gen Mot 6% deb G Mot 7% deb. Goodrich. . { Goodrich pf. six months, but their money was no as largely employed as it was last vear and the earnings will show some ling off. but they will be able to maintain their 6 per cent rates on their stock. ch member b is required to contribute to the stock of the regional bank of wh it is a member and-the returns there- on are limited to 6 per cént. Personal Mention. Charles C. Glover, chairman of the!Great Northern pf. 651 €51 Filg hoard of directors of the Riggs Na-|nreat NorOre.... 21 21 !7 tional ‘Bank, will leave tomorrow [gusiianimoSug.. 8% 6% morning for York Harbor for thej usMERCRE " s s summer. Gulf Mo & N pf. Local Secaritles. i Houston Oil. Moderately good business was trans- | Hupp Motors acted in local bonds today at the ses- | q])inois Central. sion of the local Stock Exchange. but|iniahoma. ...« . the business in shares was greatly re- | progicarion i stricted. while prices showed an ca- | [oiCrhor Metro. . % Chesapeake and Potomac Telephone | Interboro Mlet pf.. ;‘:. s were active at 90. Gas s uasrdl‘"l‘ Harvester.... » rom 77 to 76%. Traction 5s brought | Fitl Mer Marine. .. 10% $71% and the Gas 7'z notes sold at|Intl Mer Marine pf 103. Int! Motor Truck.. Capital Traction shares sold from |Int] Truck 1stpf.. $415 to 85, Gas sold at 42% to 43 Intl Nickel. Other shares were entirely nominal and without material change. Forms Are Ready. Tocal banks have received thein forms from the controller's ofce for the next call. They were aereeably | surprised to find that the éontroller Intl Paper. luvincible Oil. 1s.d Juwel Tea Jones Tea... iansas City Sou. . Kansas C Sou pf was seekinz new informution. BCHOuD e YRS a3l will prebably be for June _Kcl]:;:ap:‘mir:fe‘ e 30, the end of the fiscal year. ikngsmneém. -~ B Lackawanna Steel 6 GOES TO NEW POST. uemsnvalley. ... &% _ * Liggett & Myers.. 141 |Loewslnc. veees 107% S. P. Gilbert, Jr., Nominted Under- | poft Inc. . e uis & Nas! secretary of Treasury. O hattan Eiev Parker Gilbert, jr.. of New Jersey | Market SURY T P was nominated today by President]NAUTIO Marding for the newly created, postj of undersecretary of the Treasury. . 1% es. . Mexican Pete..... 118 Miami Copper..... 21 Tt was said at the Treasury that Mr. | Middle Stale:Ofl.. 11';-/. ‘iflbert would continue to exercise | Midvale Steel. .- supervision over all fiscal matters. |Mion&StL (2)... 13 He is expected to relieve Secretary | Mo Kan & Tex, Mellon from the burden of most of | Mo Pacific. . 19 the routine work. | Mo Pacific pt . 8% Officials declared that Mr. Mellon | Montgomry Ward. 17% has leaned heavily on Mr. bert as|Natl Acme. .15 wn assistant secretary. and it was|Natl Biscuit. 108 inderstod that in the new place Mr. {Nat| Conduit . 1% Ibert would be called upon to exer- | Natl Enameling... 4% ‘se even greater administrative au-|Natl Lead.. hority on all questions with which | Nat] Lead pf. hrough his experience he has be-|Ngvada Copper- me familiar. {N Y Central. N Y Chi & StL. RECEIVER FOR BOSWORTH. N Y Dock pf. NYNH& Hart... 118, Tenn.. June 27.—Roy H.!Norfolk & Westrn. 92 wcretary-treasurer of the Bos- | Northern Pacific.. 69 vorth Bag Company of this city. took harge of the affairs of the company nday as temporary rec er under an rder issued by Judge J. W. Ross of ‘e federal district court at Jackson, snn. The petitign asking for a re- civer listed liabilities aggregating | pproximately $493,406.54 and assets of 18,654.56. —_—— PARIS BOURSE FIRMER. RIS, June 27.—Prices were firmer b bourse today. Three per cent antes, 56 frances 50 centimes. Ex- hange on London, 46 francs 57 cen- imes. Five per cent loan, 82 francs 0 centimes. The dollar was quoted t 12 francs 36% centimes. NIGHT RIDERS KILL NEGRO. COLUMBUS, Ga., June 27.—An un- dentified _negro, whose body was ound in Harris county near Musko- ee. was strangled and beaten to ieath, according to advices reaching iere. Officers have no clue, but are 2id to admit that “night riders” took art in the Killing. The negro had Oklahoma Prod Orpheum Circuit. Otis Steel... Owens Bottle. Pac Gas & Elec. Pacific Oil.... Pan-Am Pete. Pan-Am Pcte (B). Pennsylvania. Penn Seabd Steel. People’s Gas. Pere Marquette... Phila Company... Phillips Petroleum Plerce-Arrow. Plerce-Arrow pf.. Pierce Ofl Pitts Coal. Pitts & W Pressed Steel Car. Punta Alegre Sug. PureOil.......... Ray Con Copper. Reading. Reading 18t pf.... 38% Rep Iron & Steel.. Royal Dutch.. St L & Sar Fran StL & San Fr pf. een dead several deys. St Louis Southwn. 23 —e— St Louis Sown pf.. 30 Bar Silver Quotations. Seaboard Air Line. 6% NEW YORK, June 27.—Bar silver, | Sears Roebugk.... 71 omestic, 99%; foreign, 58%; Mexican | Shattuck-Afizona. 6% ollars, 44%. Shell Trad & Tran. 407 LONDON, June 27.—Bar silver, 35%d [Sinclair Oil....... 21 er ounce; money. 4 per cept. Dis- |Southern Pacific.. 72% ount rates: Short bills, 6 per cent;|Southern Railway. 19 hree-month bills, 45% per cent. Southern Ry pf... 44 Stand Oil N J pf... 1057 Stromberg Carb... 31% Studebaker....... 74 Submarine Boat % Superior Oil. ‘Tenn Copper. —_— FOREIGN EXCHANGE. Copeshagen .. Texas Company... Stockbotr Texas & Pacific. .. Amererdnm Texas & P C & Oil. Belgrade Third Avenue. . Moatreal Tobacco Prod. Trans Contl Oil... Union Bag & Papr. Union Oil .19 Union Pacific. Mrs. Sarah Maxwell, Canada’s old- at eitizen, recently celebrated her \6th birthday. She has outlived all children, sheep, 1l.00a week ended 1 head. against ¢ light supply higher 980: hea medium, 9.80; Dig: Calves—Receipts for week ended noon today were 3704 head, against d last week: heavy supply; rket lower; calves, 4.50a10.00. —_— i {AMERICAN TO OFFICIATE AT LOUVAIN EXERCISES | H i The corner | n University | NEW YORK, June 2 !stone of the new Louv | library. which is_being constructed | upon plans by Whitney Warran, al New York architect, will be laid an American, Dr. Nicholas Murray Butler, president of Columbia Uni- versity, some time late in July. The rebuilding of the famous Ii- brary, burned and sacked by the Ger- |man” army in 1914, is being financed | at a_ cost of $500,000 by popular American contributions, through a committee, which includes President Butler, Presidents Lowell of Har- | vard and Hibbon of Princeton Uni- | versity, J. P. Morgan, Bishop William T. Manging, Elihu Root, Charles W. Eliot and many other prominent Americans. The committee has not yet obtained all the funds needed to complete the work. The ceremonies of the laving of the cornerstone will be attended by Car- dinal Mercier. and men famous in the fleld of philosophy, science and let- ters, as well as representatives of th committee of twenty-nine nationali- ties which undertook a short time after their destruction, to retore the magnificent university buildings. The new library will occupy a dif- ferent site from the original struc- ture and will not be a copy of the splendid_Flemish building that was destroyed. Such a restoration, com- mittee members said, would have in- volved too large an. expenditure of money and effort in the copying of the delicate archelogical details of |the library that was sacked. Of the pians, Cardinal Mercier wrote to Dr. Butler, that “They were Won- derfully appropriate, beautiful, ample, not too elaborate and in perfect Keep- ing with the national and historic spot wheré America’s memorial i8 to be erected.” AT — | TROTSKY PREDICTS WAR. Says U. S. and Great Britain Will Clash in 1924 Over Trade. LLONDON, June 27.—A naval war be- tween Great Britain and the United ates as a result of maritime rivalry will occur in 1924, according to a pre. diction made by Leon Trotsky, bol- shevik minister of war, in addressing the third internationale at Moscow Friday, says a dispatch to the Daily Herald, the labor organ, from Mos- cow. “A swollen gourmand.” was Trotsky's description of the United States, while he declared that Great Britain was losing her possesion of world significance “the pound sterling having been vanquished by the al- mighty dollar.” e FLOOD RELIEF APPEAL. The Chamber of Commerce. of the United States today placed before its | members the need of approximately $209,000 to_complete the relief work at Pueblo, Col., recently visited by a disastrous flood. i The amount is desired to re-estab- | lish destitute families Wwho need clothing, bedding, cooking utensils, furniture, etc., and to re-establish the earning power of the population by supplying tools and equipment to small tradesmen and others who have lost their means of livelihood. Contributions should be made direct to Disaster Relief Fund, American Red Cross, Pueblo, Col. RAILWAY MAN PROMOTED. Special Dispatch to The Star. CUMBERLAND, June ' 27.—Samuel Strachan, for the last year and a half division freight agent for the Balti- more and Ohio railroad at Charleston, W. Va,, has been promoted to the po- | sition of assistant traffic manager, and | Bas gzone to Baltimore to make his | Weadquarters. Mr. Strachan is a na- | tive of Huntingion. He roceived h early training with the Chesapeake and’ Ohio_railroad. Later -he &ent with the Baltimore and Ohio, serving * in Pittsburgh, New Orleans and Bal- timore, | this jlarge coal traflic, but not BOND MARKETIS jthe government owes the companies conversion of sterling or francs. Coal Road Farnings. < of the coal ro s cen_below the average of other railway systems in the same| localities ical instance of is the comparison between the| results for last month on i the Baltimore nia_has, of course, hing li Baltimore and Ohio’s in proportion | to the volume of all freight. Pennsylvania gross was ahead of last | Litimore and & down $2.540.000, The explanation lies in the falling off in the demand for coal from in- dustries, like steel, which are at low ebb of production. Meanwhile. | partly by reason of the cutting down | of working forces. but more likely | because of curtailed maintenance, the May net on both thes 5 shows p well. That for the Baltimore and | Ohio was $1.685.000. or slightly better than last’ year. while Pennsylvania| succeeded in changing a deficit of 727.000 in Ma. 19 into a su s of $3,549.000 in Ma 20 @ surplus) 25 MORE ACTIVE, FIRM NEW YORK, June —With the stock market quieted down, the bond deal- | ings were able to take more account | of the decline in money rates and the piling up of bank resources. Another helpful influence was the cessation of further competition, at least for the time being, from new syndicate offerings. No new financing of consequence is planned until after the July 4 holi- day, and then nothing like the syndi- cate activity of a few weeks ago is looked for. The effect of these various ences w influ- felt in a generally rising tendency in the bond market. Railroad issues especially were in good demand because of the plan which it is _expected will soon be announced for funding the government claims against the roads into moderately long term bonds, while providing for the prompt payment in cash of what under the old federal guarante St. L. and S§. F. Securities Strong. St. Louis and San Francisco securi- ties were notably strong. The 6 per cent incomes got up to . as against 50% Saturday and a low of 48% last week. The prigr lien As were up from | 4 to 59%. and the 5 per cent D: were fractionally higher. Chesapeake and Ohio convertible 5s rallied an- other half point and Erie general 4s! sold at 403, as against the recent low | of 391. Pennsylvania 6ls. which | have been steadily _hardening for | some time, sold at 97. These bonds did go as low as 9415 in the course of final distribution of the issue Southern Railway s sold up to 80%, a gain of % of a point, and New York Central debenture 6s were strong, up a half point to $8%. Among the in- dustrials Armour 41s did better, get- ting across 77. Pacific Gas 58 rose from 76% to 77. Rubber 7%s gained a full point to 98%. and Packard Motor 83 improved moderately. On the other hand, nclair 7is were a shade lower, and Cuba Cane Sugar is, sympathizing with the weakness of the sugar stocks, declined again. Changes in the liberty group were unimportant. Foreign government is- sues did rather better. Their position was strengthened by the pressure brought to bear upon bankers by the authorities at Wash- ington to discourage any more for- eign loans until the business situa- tion gets better here. SUGAR DROPS TO 5.30. NEW YORK, June 27.—The local market for raw sugar was steady and unchanged early at 4 dents for cen- trifugal with no business reported. There was a little change in raw sugar futures and prices at midday were unchanged to 2 points lower. July being lower under liquidatio In refined the market was un- changed to ten points lower, to the basis of 5.30a5.50 for fine granulated. the lowest price recorded in five! rears. Refined futures were nominal. —_— No improvement in the metlod of burning bricks has been found in more than a century. - the | The ! jer: jhigher than Rye—Bag lots of nearby quality, 41.30 per Dy western export, spot, 1.4 1.37 per bushel. rve, as to 14.00a 1 clover. m mixed, 1 No. 3 i clover, . H ample hay, Straw—No. K e, nominal 1 tangled rve, 17.00: tangled rye, 16.00: No. 1 wheat, 0a15.50; No. 2 wheat, 13.00a13.50: 5021650, 0. 1 cat, nominal, CHICAGO. June 27.—Bearish senti ment predominated in the wheat market today. owing more or less to| Npectations movement of | the new crop. wencrally be lieved. also, that the Visible supply total would show a liberal increase as compared with a week ago. Con- tinued rains in the southwest and further dry weather northwest failed to have more than a transient effect on prices. Opening quotations, which ranged from % decline to % ad-j with July 1.30 to 1.30% and eptember 1.251> to 1.26. were fol- swed by a material setback all around. Big receipts weakened corn. After opening offt_to 1, up. including Steptember at 6312, the market un- derwent a general sa Oats were depressed with arting %al_lower eptember. 40% to 40 then receding for all deliveries. Lower quotations on hogs and grain weakened provisions. TW YORK. Quie! spring _ spring_clears, 7. straights, straights, Pork—Dul ily. 30.00a33.00. Lard—Steady; nlherl to i June patents, £ 7.75; soft winter hard winter §.00a8.50. mess, 24.00224.50; fam- middle west, 10.65a 10. DAIRY MARKETS. LTIMORE, June 27 (Special).— Chickens—Alive, springer: 3 1 white Leghorns, 38ai2 30a36. Pigeons, pair, 35 old roosters. 17al spring ducks gs—Loss _off. native and nearby | firsts, dozen, 27a27%; southern, 26. Tutter—Creamery, fancy, pound, 35 prints, 35a3 creamer: ladles, 23a24; rolls, 20a22; dai packed, 19; process butter, CHICAQO creame! June 27.—Butter—High- extras, 3 tandards, | 8a33; second: o receipt 6; standards, 261sa cases broilers, 38a45. NEW YORK, Firm: receipt; June tubs tras. 35243 eam: ory, extras (92 score), 3%lva T | (88 to 91 score). g2a3i%: packing stock, current make. } 0. Eggs—Firm: : fresh gatheréd. extra firsts, 2912a31% firsts, 261.a20; state, Pennsylvani and nearby western hennery whites, first to extras, 30a40; state, Penn- vania and nearby western hennery browns, extras, 34a35: do., gathered browns and mixed colors, firsts to extras, 26%a31. Cheese—kirm; receipts, 1,970 boxes; state whole milk, flats, fresh specials, 15%a16 do., average run, 14%a # tate whole milk twins, spe- cials, 15%al6%: do. average run, 148,315% . PRICE.OF COCOONS DROPS. Silk Worm Industry in Spain Re- ported Facing Ruin. MADRID, June 26.—The silk worm industry, which is centered around Valencia, appeals through the news- paper Financiero for protection through a customs tariff. The writer of the appeal declares that the entire district faces ruin through falling prices. He says a kilogram of cocoons now is bringing only 4 pesetas, as com- pared with 8 pesetas last vear, and that the number of buyers also is reduced. H Modernity. i From the Boston Transeript. i TCaller—And have you any old mas- ters? I English Newrich—Old masters be ‘anged Everything in this 'ouse is] bloomin' well up-to-date. ! who | ceipt. Hlowe of the Richmond regional bank would | Rafots FIZyCrs Hi A s but. that further Germaun r 300, £30.00—75 intervet, in sums of $1.000 to §5, B e aoservs weploit] Fed Mines & S pE. . 2 medium, 130 to 3.25, . Common to between o }%sm‘rlmwlfin; U Wash. Lo & Trast A edera Berve 4 She . 7 banks have made gains in the last | Fisk Rubber...... ;:;: 3 oty COTTON MARKETS. ¢P! €ller pide.. othana ¥ nw, NEW YORK, June 27.—The cotton market opened firm today at an ad- vance of 14 to 22 points, owing 10| higher Liverpool cables, the better | English labor news and reports of a firmer tone in foreign exchange. July notices were estimated at about | 21.000 bales. or slightly below expec tations. and there was a good demand for July from some of the interests ssued them. Futures opened firm; July. 11.23;| October. 12.20; December, 12.70; Jan- | uary, 12.76: March, 13.13. NEW ORLEANS, June 27—Reports that first July tenders in New York | amounted to only 20.000 bales; and their apparently favorable reception caused a rise of 17 to 21 points in the price of cotton in this market in the 'first hour of business tbday. Tose to 10.93, and October 10 1172, Futures opened quietly; Ju October, 11.6 Drt:embser. 121 2 12.61. 0; March, SRPOOL. June .27.—Spot cotton limited demand: prices firm. Good ! middling., £.36; fully middling, 7.96:! middling, middling. good ordinary ordinary E 000 ‘bales, inciuding American. Receipts 6.000 bales. cluding * 5.€00 closed stead October. s.1 8.48; May. 10.93; Jan- in- ——————— i CHICAGO LIVE STOCK MARKET. | CHICAGO, June 27 (United States bureau of markets). — Cattle — Re- 20.000 head; dull, undertone | few_early sales beef steers:| she stock, 15 to 25 lower: choice year- | lings, steers and heifers, 8.50: bulk beef 'steers, 7.00a8.00; bulk fat she stock, 4.50a6.00: canners and cutters largely 1.50a3.00: bulls, 10 to 15 Jow- er: bulk bologna, 3.75a4.00: bulk bulls, 4.50a5.75; veal calves sharply lower. Hogs—Receipts, 50,000 head; acti mostly 10 to 15 lower than Saturday’s average; packing grades off mos| top, 8. bulks, 8.10a8.65; pigs, 10 to 15-lower. i Sheep—Receipts, 23,000 head; prac-| tically no early ®ales; choice western | lambs offered at 11.00: choice natives bid 10.50: around 75 lower than Fri- day: yearlings unevenly lowe! sheep’ slow. v “Gilt Edge” 1% First Mortgage Notes Now on Hand In Amounts cl $250 Up to $5,600 We lock after ajl details and furnish guaranteed titles with all notes. The only absolutely safe form of invest- ment. Chas. D. Sager 923 15th St. N.W. Loan Dept., M. 36. $5,000 Life Policy, $57.35 Age 40, Send date of birth for illustration and particuiars at your age. - M. LE ROY GOFF, Insurance Adviser Room 610 Woodward Building. M. 340, A.A.Housman&Co. 20 Broad Street, New York Members of All Leading Exchanges Orders executed on a strictly commission basis, in stocks, bonds, cotton, grain, sugar, coffee, cotton- seed oil and provisions. Orders alsp accepted on give-up basis to any mem- ber of an exchange of which we are members. Washington Office Main Floor Corridor Woodward Building Telephone Main 2040 CHARLES R. ALLEY, Mgr. Will the Mark Come Back? If so, when and how far? C. W. Barron of The Wall Street Journal, Bos- ton News Bureau, Phila- delphia News Bureau, etc., after full inquiry in Berlin, answers these questions in his new financial weekly— Barron’s At Principal News Stands 20c A dozen exclusive and time- v articles for those who read for profit. SPECIAL OFFER: You can have the next six issues masied to you by scnding One Dollar to Barron’s, 44 Broad St. New York City. A Source of Steady Income where principal is secure* and safe is offered to in- vestors in-our 7% First Mortgages upon improved District of Columbia real estate. We shall be glad to dub- mit you investments to suit your requirements. In amounts of $250 and up. B. F. SAUL CO. Mortgage Loans 934 N. Y. Ave. N.W. i | ! | Organized 1814 National Metropolitan The Oldest National Bank In the District of Columbia | Like a Fortress Buttressed by large resources and experienced management, this bank, like a fortress, has withstood the financial storms of over a century. Good times and bad, it has always been behind its friends. {] Your father, or your grandfather, mayhap, if a resident about Wash- ington, did business with this same bank. 15th St. Opposite U. S. Treasury—107 Years Old T T 'HE Rock of Gibraltar and impreg- nability are practically synony- :::us—:uch is the strength of Gibral- Our First Mortgage Loans repre- sent the strength of Gibraltar in the investment field. Stocks and bonds fluctuate daily. Thousands of dearly paid for “securities” become “scraps of paper” over night. The question, “What s the strength of First Mortgage Loans secured by Washington Real i Estate?” is answered with a counter question — Could you budge Gi- braltar? Their value holds firm—100 cents on the dollar. Could any investment be stronger? Our, First Mortgage Loans, secured by Washington real estate, are the acme of safety, and pay 7 interest. * They are in convenient denomina- tions. »++ H,L,RUST" - 912~15TST.NW.