Evening Star Newspaper, July 9, 1921, Page 12

TIiE EVENING STAR, WASHINGTON, D. SATURDAY, JULY 9, 1921-PART 2 FINANCIAL. FINANCIAL. NEW YORK OCK EXCHANG 5 DIVIDENDS DECLARED. | 23394&]8] I.nss = = Graln’ PrOduce ocord: Over a 9 y A Received by Private Wire Direct to The Star Office. GRAIN AND FROVINIONS. E';oc‘bg Y;‘o.;zs:.'z “:m(;, gent. 15 Quarter Open. High. Low. Closs. Open. High. Low. Olose. | BALTIMORE, July 9 (Speclal).—Po- gs—Strictly fresh, per doz., ) Alaska Juno. . 1% 1% 1% 1% |LeeTire& Rubber 27 2% 27 21 |tatoes—New, per barrel, 1.00a8.00; per | &Verage receipts, 27a28. 3250 “Bept. 12 of a Allled Chemical... 38 38 : B0% 60% b\;uhel 050-13:5 Alvlnbm:lh. llm‘_, g:ll;!s- ml;:‘ve .Doullry-‘l‘!’.wste:‘rs.! 5p°rehllbc m::. e Storage Battery Co., Y i Century 3 10! 3 1 .50. ans, per bushel ey per a3s; 3 . Allis Chalmers !‘; 034 104 Be;‘(‘. per bunch, 3a5. Cabbage, per |spring, pef ib.. 36ad0; hens, per Ib., | Elec. Siorage Batiery. g, 8. 8ept. 12 Oct Without 3% ::: :x head, 2a10. Carrots, per bunch,' 3a5. | 30; keats, young. each, 60275 chick? | Howestake Mining, o, 25¢.July 20 s“hou Market StRy prof. 84 34 ao% say | Celery, per dozen, 1.00a1.50. Corh, per | ens, winter, per Ib., 30. ) Maryland Oil.. % 1 14 |dozen, 12a35. Cucumbers, per baskel | Dressed poultry—Fresh-killed spring | $1.50 . We look after all details and furnish D Ch: d to Heav Maxwell Motors T 1ooar10. Emgplant, per crate 6.00a | chickens, per Ib., 3sa40; hens, per 1b.,| Unlon Oil of look attar ull details and furaish rop arge 0 Heavy g O Sl Lettuce, per’ bushel, 50100, |32: “roosiers, po turkeys, 35 | Gpion 011 of C $aly" abeciutely safe form"of invest. Inve: nt Service ()nlonn‘ per poun 40; keats, yo . each, 50&A5 chick- —_——— mest. “n‘e Withdraws for Tax Pay- Am Exp: ddle Btates O11 1421 2% | poas Ger bushel, 3.26a3.50. Peppers, | ens, winter, per 1., 26a40. A BT VEE QU OTATIONE: erv MidvaleBtes. 1 We ome o BarcerToado. " l"x?;;nfiaeusgg:sgiul?:tr Pork—Dressed, small, per 1b. 15.| NEw YORK, July 9.—Bar_ silver: Chas. D. s“el' Some few investors have o ¥ ' " — . choice, ., . 61; ican he knowled, d the ex- 3% 24 2% |1 50a3.00. Live stock—Cal choice, per Ib. | Domestic, 99%; foretgn, 61; Mex! the knowledge an. F ments Since Last Call. Am Locomotive... 80 W 0% 0% | Aspies—Per barrel, 2onas.00; per 8 Imbe.” cholce per 15, i0%: vy doltura. St T e, 3T 923 16 6t Nw. S etienes do ol eine s, per , 9. — 3 Dept., l Complete tabulation of figures show- | Am Loco pr... ... .. 104 i tom | hamper 1008200 alounes per crate,| Oréen frults—Apples, per bbl. 3.003 | pence per ounce; money. 4 per cent. real estate and to make wise ing the amount of deposits on hand | Am Safety Razor. % 7% 15, Cherrles, per pound. 10a20.)10.00: western, per box, 3.5024.00; Diecount rates: Short bills, 4% per mortgage selections for them- in all banks and trust companies of e ‘i;’: lm l:-z ]c.,r:mfu per quart, 10a15. Huckle- g:nl&-;nlf lemons, nerngoxbrl;i{l)flz%lo'{)”‘ cent; three-month bills. 6% selves—some have the time A s A S o nia oranges, L e i i 1 the city at the close of business of m . a u|berries per quart Gait Nes 650; grapefrult, per crate, 6.0028.00; ‘x?:d lthhec ‘"C’”s‘a::"“de‘gfllso‘;‘; show s 2,339, 0% 70 704 | De 8 o® Per | peaches, per crate, 2.2303.50: blackber- after the necessary June show a trtal loss of $2,339, 18% crate, 3.50a5.50. ~ Raspberries, per | BerEntd Bor ora e e e rberries. per but large ma- 60.81 over the previous call of % 1% 18K | CU 22. . Watermelons, each, 256 . Der_quart, 20a30; raspberries. supervision, a largy 460:51, over.the: pravious caly ofithe 4 14 1y | Quart. 20 Quait, 25ad5; cantaloupes, 4.00a5.00. 1 jority of those who _invest 0/ o CurTY v. whicl N/ Y al —Potatoes, » No. 1. b S Moo kerion e e e Sy 4 ""Ciicaco, July 9—Bearish inter: perbarrel, 2 B0R4.00 Teituce. nearby, per DIVIDEND :t‘;e cither not so qualified or = £ N i o the government cri te, 75n1.25; N rk lettuce, per | ey prefer to make other thre"r” = the lp/-::‘nrl‘.\Ix:f-ehvthlsvz}s‘lv;“:;‘ll 3:{::::{;:&0.. 1:% 1; 1;% 4;% f:;:,‘::m]:.u 3;‘ ronuldgrnh(l’- scum:‘; (fi 2;:‘:,}11?2“5..;,50; f:.v";‘,m,.er on 100 | Net lnterut To Stockhold: of their time and energics. indl b B O e : s at the opening today, with all|1.60; Romaine lettuce, 1.00a1 565 cym- | 3 ers fromy the banics on acoount of s t‘;p}fi::m L o 13 Jower, as compared | biings, per crate, 1.50a1.75; spinach, First Mortgage Notes 0 F' 16 5 oke Biniitss #o o of District of Columbia 34 8% 3 | OR P Vegterday's close. A rally fol-|per barrel, 3.00a4. 05 e ver barvel, | (o) gl mance = 4nd'federal @ ek 4 | YURen commisnion houses sup- [100a1.50; peppers, per crate, zoomz50: || $100 $500 31,000 . absolutely safe mortgage in- e somwhat offset by | Baldwin Loco..... e {4 42%| ported September, and black rust re-|peas. nearny, per berrel. 6.00a12. 0. | Absolutely Safe Corporatlon vestments and at th]b same . indiv to & Ohlo. 4% 4% | ports from Southern Manitoba and |onions, 1.25a2.00; cabbage. per crate, time render a complete in- 1 Erowth in individual ac- ey 8% 5% 84| bortions of Saskatchewan helped the |2.00a3.00; ~cucumbers, 1.50a250; eks- P e 5 SEstment GF vice e aclice oliTh frem the pirchace of Treasury | Beth Stael v% 0t Peoplestas.. W X 80| movement. Trade ‘was ratner Ilght. |pitnt, por crate, 5.008350; tomatoes, per Geo. W. Linkins At a meetm.{ofhthel:hozrd R ot oy R Bid otealet Thna TE A e re Marquette. .. 0% 20 20 | September opened at 1.20 to 1 . 1:5085.005 €08, per, dots 1 of directors of the Florida 3 o and fotes of June 16 Ap Butterick Phillips Petroleum 11 1% 17 17%|dipped under 1.20 and then rallled to L00; 1orRIH0IAA.00; (heatls, (T:00R10:00 1719 K St. Sadiiss Finance Corporation held June and management. g from (ho Ry rchase of notes 1% 19 19 | around yesterday's close on reports 3 “Thirty-five Years of Safe Eleventh, 1921, a semi-annual ! M 7% 1% |of overnisl port business at the P RSTTER e i R | . 1921, June 30 i Dty °a | Camtal oather. - Bl ®' @ s |seaboard backed by local protessional [T|RE PRODUCTION BOOMS. | — werowr of far cosbiston Il-:)l'gl?l?d at m“‘e pote of B. F. SAUI CO rv v . er cei on Preierre o . . emporary | Centrai Leuth pf.. 0% 0% & 65 b6 |buying. P be withd < 26 2 |PullmanCo....... Corn trading was marked by an tock and ONE per cent on Whies weakis: Cerro de Pasco o ag 50% 61% | Pure Ol :» ::u :2 2:32 advance of July to 2 cents over 8ep- |Now 85 Per Cent of 1919 Peak SEVEVTH STREET gommo St ‘f“ declared Mortgage Loans National banks in the final compila- 55% B4 55% | Reading.. 68 &% 6% 68% ;:g-g;aflbih;flrem%fll z:t a‘;:gr‘;:y‘;z , SAVINGS BANK, p;y-b!e July Ninth, 1921, to NW. tio owed a total loss over the pre= |G, X ushels sold late yi ures. . vious call of $LIT.035.22 trust cl',’""l o H gu g::;:::o:'!tly.nl fia % Wk | Montreal being the factor. The mar- 3 ) At Washington, in the District of Columbia, st {| all fully paid stockholders. 934 N. Y. Ave. NW. loss of $1.719,331.28, while G% 3% 4% |Royal Duteh.sen. % 41% 4% liet generally opened about 1 cent| AKRON. Ohio, July 9.—Closely fol- the close of bu June 30, 1021. GaRe SN nm e ('h:!:l;&?;:“p 3‘\: 64% 64t 6% |StL & San Fra :fi ::/: g:: ::2 off_from vesterday's. close, . with July B e eoas o RESOURCES. FLORIDA HNANCE - - ' $52° _Full totals appear in |Uhi& NOCLENEC: - 1% 828 313 2% |StLouls Southwn. 24 2413 20 244 | peedermer sosd omber 09% to 80 and | bila tire production to #5000 cas-| 1. aLeaw and discounts. inelod- 3 table in another column. ChiR1& Pa T o I |StLoisSownpt . My oy X, | Decembor 53% to 60, The movement | FMORND Hre Beotuction o Tehe Good ing redixcounts (execpt those CORPORATION $1,100 BUYS $110 INCOME Circutation of Moncy Per Captta. | CHESGEIC: 4 2% 24 |Savage Arms. 100 107 107 10 |tha others avanced i sympathy . |YeAT Tire and Rubber Company today | , o hown i b sed 0o A R RNOWN XATIONAL, T in circulation in the United | cocy Cola,aeses 2% 2% 30 [Seaboard A L pf 9% 9% 92 9% | Oats were firm from the start, with | 2nnounced it has landed n government unsecured, $1 Of Tampa, Florida RANCE | INSTITCTION July 1 amonnted to 353.4 Coto & Southern.. 38 33 8 38 Roebuck.... 65 6% 64 € |September starting % lower to % |Crder for three large dirigibles and 5. government secarities pa, BION OF STATE BANKING LA ."q‘;“;;,‘n,,‘;{m‘“i‘:,‘.‘(‘fiifi’,:. Tasue 5o |Col Gas. ... (8% e B Uk |Sinclalr Ol oo 19 ok 19% 20k | higher at 384 o 383, steadying at Shicty elEht observatlonTibialloons tue it 50000 By B. L. Hammer, Vice Pres. || T, Pmlf'lfy\fi NG CERTIn ! ‘ol Graphophone.. 6 6 & outhern Pacific.. 1§ 75% 15 75% | tho latter figure. 3 e g 5 00 00 A o P T o then 035,000 | Cone Distriputors. 8% 7 8% 1 [SouthernRallway. a4 21 204 iviy| Provisions showed considerable | T Patrol and scouting airehips of | & UANUNEL, WIRa, et m‘ Atk 1807, \AT"'\U: CAPITAL SE 35758 and the total $5.084 854,000, the {Cons IntlCal Min. 4% % 4 &%|SouthernRypf... 41 1% 41 «7is|Rirenkth on optimistic trade reviews. | "Gt BUE ror the Navy, A it e iy 1.082.20 CERIE cORy. 7. s 2 reduction being brought _about { Cons Textile. 6 G5 WM M| Staad OIINJ pf W07 a6 g | September lard went to 1082 and | bio of ‘similur size. but special desin. thritt stamps. . _..__ T T through decreased issue of federal!Corn vreagut :fi g: g :: sx::::;:r.g.:; .. g;: g‘: fi‘{: 5: 8 wiit be delivered to the Army. This Totat T. §. gor- Of the reserve bank notes. Cosden & 2% airsip will have a speed of sixty miles ve- g Al i Crucible Steel. 6% 6% 55% B8 |Studebaker. 8% Bk 8 9% DAIRY MARKETS. an hour, it is said lA N ATION AL B ANK Cuban-AmSugar. i3 1% 13 1% Studebakorpf.... @k 64 s C,fi'},fl'flj‘of‘,fie ;'r‘,‘l!,’;‘f“(fig;‘;‘;”z; Tire production now is 85 per cent| 4 u pouds, securities, otc e jubmar! 9 . es. 5 1 . on L ’nu [9 roosters, 17; uc 8, 22a2 fi g 5 Del Lack & Wstn..180 180 130 180 |Texas Company 8% 8% 334 spring ducks 28a32" 6. Banking house . v 3 : . 28a32; pigeons, pair, 5a FAILURES INCREASE. % Foroitars and fxtures ... Denv & RioG pf... 1% % 1% 14|Texas& Pacific... 2 2 2z |40, - =Y z RESOURCES. Endicott-Johnson. 58 §8% 65 684 |Texas&PC&OIl. 18% 184 18% 18%| Eggs—Loss off, mative and nearby | AN increase in the number of com-| * * thoy “a,™ | ssomor s Loans and aiscounts, inchuding rediscounts (ex- Eri 13% 13% 134 | Tobacco Prod..... 6z b2% 62 62% | firsts, 29a30; southern, 28. mercial failures during this week is cept those shown in b and o] Brlelstpt Heni gl 5|, Buter—Cleamery fancy, pound, 39 | reported by the Credit Guide, but the {3 “m:f'::,f::h:r-::z e S Famous Players. 3 18 ;_Drints, 40a42; near! ! ol e R Tot: dy, 7 % 36a37; ladles, 24a26; rolls, = ety | The commercial tailures for the coun- g::‘fif:m’r. 11% 12 11% 13 |Union Pacific pt. prints, 23a25; process butter, 25229. ¥ (50 3";’;"[’:5 to "’;l *‘"h’"l"" fum: Total .. . Overdrafts, secured, ulv:}ssx \lnsec\lrefl. $163. - > ered 2! s wee agains arminizy L1 rities owned: NEW YORK, July 9.—Bond trading. | Gen Asphalt. 48 8% 4% 4% |United Drug. NEW YORK, July 8.—Butter, firm; | week. and 111 in the corresponding LIARTLITIES. D B oirs citculation (I B, bonds, par by comparison with recent standards, mng‘“"’m lflu o ‘fl“ ‘fl“ 8:}::3;‘{:‘,‘:‘,, PR )rafigsxflknfiw.,'{,":;‘g";’“,:"‘"’"" 1920 week. - The average liability Of | i5. Capital stock raid bo AT ceeen & e en Motors. 4 T, a! ; cream i plit % ~ was dull today. There were few Em Motarmeer B B R o Tcsaren oy iirar (58 e iadtla: eream rn;!g;eu:;arxx:f‘ the current weck was Sorolia fand b All other United States government secu ;hange‘z of consequence in th? p;ltl: Great Northern pf. 65% 70 t8% 69% gsxnd“m“m‘ T:\Ck&?t:lw; to 91 score). #6333 . Amount Tenefved for ail ist. Westinghouse Electric 7s fel 18% 8% 18% | U SRubber. ...... 3 ock, current make, No. 2, REPORT OF THE CONDITION Otlier haadi. Stocka mesiritien, ot the effect of profit taking, natural 53 & 82% | US Rubber lat pt. 255 < Orthe . By 0: furniture and fixtures, $5.000. : Eggs—s 3 ] ; . Banking house, $72,000; furniture after their sharp advance during the 1% 1% 1% |USSteel....... crates’ Presh pathesen orcra rae) UNION SAVINGS " Lawful reserve with federal reserve bank 5 week, and came down a point to 100%. 3 % U § Steel pt. 36a27; do., firste. 33435 state. Beme - P Cash in vault and amount due from national banks... A atmerieally ith tne oo yeak sym-|lnterboro Matro... 3% s 3% sylvania and nearby western hennery | B'\\K G . Amount due from banks bankers and trust companmics in ., B e by Antenican Sucar s whidh | ok &gz Cheen, T L3 whites, firsts to extras, 40ai%: do.,| at Washl 24. Certiacates of deposit doe the United States (other than includes B Y were Cuban Amcrican Sugar fs, {lntl Harvester.... 74 75 1 browns, extras. 40a42. do., gathered fros less than 30 dass (other than Exchanges for clearing house ; : e L A R I e thsre wag |10t} Mer Marin s % browns and mixed colors. firsts to — e S Clisckis ca7othisribenke Initnemtame, Ol o YA TTNE doam heavy selling eaboard air|intlMerMarinept @7 8 7 § | extras. 33a30; retrigerator, esta, 324 | 3y foyny ana e o P! Yiemand depouite, bank (other than Hem 22 i giosaoias Line adjustment ch carricd them S o 104 | Cheese—Firm: recelpts. 21.613| 3 @rerdratis, unsecured. $2i0: 267 ana 26, m” mfi . Checks on banks located outaide of city or town of reporting B O clin o Wea Tubthse Fastionss T 18 | boxes. ~State, whole milk, flats, fresh, e v Time depoutts. (pa bank and other cash items. . 16,762.9 v #pecials, 17%al8; do.. average run, Cupled 500,00 30 days, or Iuhkel h lemption ind wi . reasurer an to the passing of the coupon a week T ™ 8 ge run| e Uupleiged s300.00 w5 Redemption fund with U. & t 4" dus trom . oon ago. St. Louis & San Francisco prior | Kansas City Sou.. 6% 28% 26 % s‘”’?’x" 1e;ute- whole milk. twins, SRR e 500 c(g;,r,;.;f_fl;‘;!diwg-hm treasurer serereesememereaeeeaaes 1250000 lien As sold down to 60% against |KansasCSoupf... 80 £ 60 White Motor. a3 | 20 ocinln, 1734 dow average Tun, 163 CUFitlen o e 300.00 wan for money” borrowed. . Total st i s s SSRNGRTIOND B vevesliahtly tower At 7250 Great o ”lwm',.o"“ B W &01 Cricaco, guly s—Butter, un.| ¥t Iondsegien e ot 0 o) % O P® S iepaite, s were slig swer at 72%. G v 9.— i b 656 o Northern' 7s were ‘strong Gt Uhelr (i e el Tonevmie s:::s“or ‘stocxs. gL Tess unchanged Hecelpts, | & Pankios honee 230:000.00 B M moset a1 Capftal stock patd in. 1 e E 4 2 - . Furniture t X s on owe ore and Ohio convertiblo 4iks were butter or egg quotations on Sat- [ ¥ 8 Due from na- 125 tnoney borrowe Undivided profits . down three-quarters of a point to urd vs during July and August. D™ a Reserved for interest and taxes ac- " On the other hand, Chicago { —_— other bamks. .- Crued «c....... ERn R e | WHEN WILL TRADE REGAIN NERVE . . e e sy three points from their recent low. H REPORT OF THE CONIITIUN, 11 Checks and otier cash items. . oL Joux D d!v ED. e B © Less current expenses, interest and taxes paid.. 24.49 Southern Railway 4s, possib! 2. Cash in vault .... - sbove-n: mQ an] 0 o] fll!u’ swear e G PR 1S THE OVERSHADOWING QUERY| (AMERICAN - fiiniiin e e o Air Line issues, so! at 56 as a mount lue to national anks 87 yoaterda SECURITY AND Total Subeerihed and oo EOARD, oot B Arnount dus b Btate Banks. banicers snd irusi eompanies in Good Demand for Ontarios. 7 - LIABILITIES. day_of Jul’, 021, B P. HOW, the United States and foreign wun(rles (c'.)\er than included There was a good demand again for st o abrs = 3 TRUST CO. R ganlta] e melt 1o e B Rl o G hecs eabAe Teot or thuae bonds 12 up auite decid- Conviction as to Limit of Price Reduction Apten: B the Diattlet of Colnbia, af | 1T A Dndivilelpeolis, BOSET L e e o, Tk o . Cashler's checks on own bank outstanding. o 3 of business June 30, 1921. 26,450.61 | Somerset R ers, John A. Schaefer, XL edly on the week. The 68 of 1923, = 19. Amount reserved for all inter- Auguse H. Plug; Alex H. Plitt, Total of items 21, ?i $316.995.00 which were 92 bid a week ago, are N d d S B . C d o RESOURCES. % A accrued ... oy 342,14 Kaufman, ?enx: GN s De'mlf:d(ddemléu (ot %rl th':'t‘mh% dflepo)nfl!) subject to re- Q. 1d J d ice has St a Loa ind dls- ). ue to trust W Thompson Burch, Ottenbery erve leposits payable wi n aye] P O e i cans aotus] eeded to dtart Duying rops an counts. " thetud- compantes ' and Nenty 3 Rapperte " Toun 3. Kolb, 36. Individual deposits subject to check 1,477.546.7 48 somiewhers i be ig _rediscounts Savings baok.. SIS0 esns] DT Wi, Chas. 8. ca;tmmtu °‘b':°°°'“£“° in less than thirty days (other num . around 95—as against 93 to M M k _t 5. et e s e 'or money borrowe 12,587.00 last . The Ontario 4s of oney arket ptatus. =" Demand deposits i g REPORT OF CONDITION Dividends unpaid 7,674.00 1926 are 83 bia, as ‘against 52 Clast o ;"»'.%dvn;é} 3 e j':’ : 2 o Total of demand dpostés {séher than Dani de- Saturday, and the 5%s of 1929 are . Individual deposit ect to v ’ sits) subject to reserve, items 3 s S G| gy srvane mowhen s deounts reduced one ilon o etk e s i =wma] NATIONAL CAPITAL 3ana 31 "s1ns0n.70 91 bid @ week ago, offersd at 92 NEW YORK, July 9.—While its ul- | gue,iundred million dolars, rwg;‘rg"",; CETE T A e "‘:,’,'m‘:;‘;;f " geeate BANK, Now theyore N Oyl & o4 | timate consequences in the security |many lines and prices off 25 | 2. Overdrafts, secured, 2aes: +1e7 =550 | 27, Dividends unpaid 2.618.60 | At Waskiorten. ta the District of Columiis, ot :g B e o Nred X6 56, ‘25" Againat | market and In outside business have |0 {0 per cent with stock exchange | curecusd WSl .o rowm| Time ool wadis s ows; ST oeess o e SO LIRS % t Saturday. yet to be tested, the most important |ang —with a reserve ratio of . 60 d more notice): RESOURCES. 32, 33, 3¢ and 3 Belgian 71.8 were back to par again, | incigent of the week is the Treasury |cent, the traditional fear of a money 1. 2. Cepticages 0 arionlt”(other Lidzeime awi dis o T . 3 than for money borrowed).. 35,000. X Jast night's close of 100%. | plan to place & cash sum of $500.- jiringency during the crop-moving War S taviags Azl 2. QUi e e &: RERL e 5‘—’5"1‘:“'.?3“‘(‘&': Total ....... ve S rav a 21, t tifi . Customers’ [aymeuts .rrmm t the she so were Norwav 3s at 102%. Lib-|000,000 at the immediate disposal of Sl b N i;’,‘,f:fi:n;,“" S ot “liberty "bonds 141000 Tbund )y 81734828 District of Columbls. ss.: ertys were down rather move than |y oot 00® LS sirest e. ot I, CLARENCE CORSON, cashier of the above-named bank, do solemn!s they have been on any day for soma | 120 PRIRCATR R uo“o“oroz o o] It the crops and the money market Total U. 8. o Total o W 55100 swear that the above statement is true to the b;n of my "nnnnneu:c“"‘ ime. Their decline amounted to from | ha ,000,000. were the only things to consider, %o v eriment atrict of Co iogton, 25.000.00 belfef. CORSON, Cus : 15 to 20 points. Congress votes the remaining $300,- | Wall street might well indulge in securities .. 81, A, R. HOLDEN, cashler of the above- , § e trning ooint | Summer “booms." But now the over- | * o P una st . :n'am" b e 2 K. HOLDEX, Cashiers” | 2. overdratts, secured. e Correct—Attest: $ Notary Publie. WEEK S GRAIN PR'CES UP may casily prove the turning point | shadowing question is when the busi- than U. 8. fn- Subscribed and sworn to before me this 8th| — unsecured. $2.233.20.. JOSHUA W. CA! ALBERT F. FOX. in the entire situation. ness community will get its nerve cluding 856,000 . gay of duly, 192 4 T pennent bescast W CLARENCE DOVALL R X v ON ADVERSE CONDITIONS | Tne object of the aaministration is {’::kpf;c"':na&t’u:':g"!:et c,?::xngcoer:ie that glra® peation, s (Beal.) P A e utise, oo SN 'WHITING ESTES, B. FRANCIS SAUL. 795 3 & Depostte s RA CHICAGO, July 9—Black rust in|Dot only to relleve the carriers, to) enough, and will begin to bus. It Correct—Attests | o cooern. eufe” eireulation C. FENTON FADELEY, JOHN N. SWARTZELL. Canada and adverse domestic thresh- |enable them to pay their debts, but | would be very helpful to have the gty . . & e Dircctors. fng returns have been ecffective to-[to put them in & position to make | tariff and tax program settled. It D W. THAY S D g T ward making wheat average higher |new purchases. It is quite as muoch | Would be still more helpful for busi- H. B DENHAM, A e in price this week. Values t ris morn- | to help the steel and equipment com- | ness to know where it stood in the 5,011,705.04 Directors. ment securities. 132,190.00 fng compared with & week 2go |panies, by procuring a settlement of [ matter of freight rates. But, after mium on AR ranged from % off to an advance of 2. | what Is due them and opening up a | 8ll, the main thing is to know that 26212080 Shia grestsit Corn showed a loss of % to 1%; 0ats | fresh source of business The ex- | Prices are down as far as they will 1.042.41 The bargain in the - were % lower to a shade higher, and | pectation 1s farther, that these rail.|&o. that they could o no further entira investment i e WISdom Of t’le Ages proviisions gained 2% to 85. way supply conoerns, by paying off | Without removing the incentive to world is the thing nituze and_fxtures, $4,500. Before developing strength the | their loans at the banks will help | produce at all. The best judzment eatest | oren eone 8 Lawiul’ roserre with tederal ‘wheat market temporarily underwent a sharp decline in connection with re. lief from drought and excessive heat in the northwest. On the downturn, Jowest prices yet this season were touched in some cases. In certain quarters, however. it was regarded as doubtful whether the crop in South Dakota and parts of Minnesota and North Dakota could still be helped by the better weather. This uncertainty was made much of by the bulls, and the upturns which foliowed were given decided impetus by attention to threshing returns from the winter crop, especially a estimate that deterioration in Mi souri amounted to 10,000,000 bushels compared with the prospect g, month ago. Then came news that black rust had appeared in Manitoba and Sas- katchewan, and it was generally con- ceded that the outlook for damage there was much more serious than in the region to the south. Liberal receipts and slowness of shipping call tended to weaken corn end oats. Some export demand for lard was a. stimulus to provisions. MARKET WEEK FEATURED- BY VIGOROUS RECOVERIES NEW YORK, July 8—Stock made vigorous recoveries from recent low levels during the midweek, leaders rallying three to six points and specu- lative issues as much as eight to al- most fifteen points. The rally was evidently directed mainly against the short interest, however, and flattened out almost en- tirely after that faction had covered, some specialties actually establishing new minimum prices. Rails were temporarily stabilized by earnings, reduction of idle freight cars and announcement that the Treasury Department purposes large refunding payments in the last half of the calendar year. Wage reductions and price cuts by the United States Steel Corporation and its principal competitors were in line with forecasts, although trade authorities were doubtful that any appreciable increase of demand would immediately ensue. Release of July interest and divi- dend disbursements effected only tem- porary easement of call money rates, but time funds were undisturbed and free renewals of two and three months’ loans were reported. Dealings in foreign exchange were on a very light scale, and brokers continued to look to London for guidance. Further decline of exports, huge accessions to the country’s gold holdings and acute weakness in Latin American remittances were among the confusing features of the inter- netional situation. —_— ‘Some, natives of the Sahara expressed amazement, when they heard ihat water falls from the skies. better on the liquidation of “frosen credits’” and that the spectacle of a revival in | these leading industries will afford confidence to business in general to g0 ahead. New Buying Encouraged. There is no doubt that this week's additional steel cuts have brought prices down to an irreducible mini- mum. Taking Into consideration 1 creased ci new schedules are Jower than those on the average for the years preceding the war. 1t may take a little time for buyers of steel to satisfy themselves that prices can- not go lower. When they od, If prec- edent counts for anything, new buy- ing will set in gradually, and then Ip;’]filfl more ;Inldly 'lt :lnlylbo l}= at railway Surchases, delayed quite like- 1y for another month or so, will be what turfis the tide. Or it may be that the impetus will come from the building trade. which seems in a mood to take advantage of the new steel prices, when it can put through 1§- present program for wage reduc- tion. In ordinary times July is & waiting period. The two dstermining factors are the crops and the autumn money supply, and the markets hold back until they can get a line on these. But nobody but a theorist could maintain that the harvest outcome and the state of the money market are the governing influences in the present situation. The government crop report has shown an indicated wheat yleld slightly above a year ago, a aorn yield slightly below. Wheat and corn taken together will, it anything like the present vromiue is maintained, have an out-turn well above the average. But large crops are not of themselves an assurance of returning prosperity unless they can be sold at profitable prices. Normal Marketing Uncertain. ‘Whether the recent price recovery has been sufficlent to induce the farm- ers to send their products to market in normal fashion remains to be seen. The!r spokesmen in W ington claim that the recovery is inadequate, and they are doing all they can to pass legislation to secure the aid of gov- ernment credit. Then, too, there is the large surplus carried over from 1sst year to consider, llkewise the much smaller dimensions of the for- eign market. . Under these circum- stances, it is a question whether good-sized harvests are a bl g. &ortainiy they do not mean this year, either to the trade outlook or to the Wall street position, what they would have meant in old times. As for money conditions, it is in- cone;flv}‘:lo n;n‘t ]EM nggf.ty .;:ko . are holdin ck on year &go, ‘wl h bank loans at mu peak, with production and E a stretched to the maximum ot 1 with" a fedoral reserve er cent and still here Was every reason the autumn months Ith ive un- easiness. But now with federal re- as expressed today by business rep- resentatives both publicly and pri- vately, is that in most lines this ab- solute minimum level has been reached. ‘The stock market has shown this week how badly “bear operations” can be overdone. It has algo shown that neither large investors nor the outside public is willing at this time to follow up a rise, and that the mar- ket s still in the hands of profes- sional traders. Enough money has been made by plungers on the short side to give them plenty of confi- dence and a willlngness to risk these profits in further experiments with offering prices down. This has been shown in the trading of the last few days. There has also been more or le!l llfluld&llon of the left-over kind, of stocks that could not be raldfly old while the market was in its demoralised state three weeks ago. (Copyright, 1921.) COTTON SHIPMENT RATES. Southern Rails Submit New Sched- ule for Conference. COLUMBIA, 8. C., July 9.—The rail- roads have submitted a schedule of |23 Tres new rates on cotton shipments. This shows a lower set of rates for hauls under 130 miles, but for hauls of more than 130 miles the rate is in- creased. This feature is what the raflroad commission will consider with the cotton men. The new schedules proposed by the railroads would be effective on all intrastate shipments within the Car- olinas and on all interstate shipments between the two Carolinas. The decrease proposed by the rail- roads starts with shipments under five miles in length, the rate proposed being for this haul 19 cents per 100 pounds. —_— EUROPEAN TRADE BETTER. Industry, filnances and general trade conditions of England and France showed considerable improve- ment during June, Department of Commerce observers h: noted. Summaries of the made public ye: MY the effect of the sett! amem. of the British coal strike, rise in_ sterlin exchange and successful outcome of ‘the negotiations lookinr to wage reductions in Fran ts effect on ‘The industrial cfllh in Italy “may ot be before’ or Se n w.rua: = :lnlt gg recen! news ne- creased unemployment and business Satiure, conth ot ‘Tmports Sver sxports and wide seitation Lo A ] general conditio 11. Checks and other cash . Cash_in vault .. 18. Due from U. 8. ‘treasurer. 14 Other assets: Customers’ a- i pader et ters of credit Insurance Accrued 1o Suspense . $13,978.25 $313,378.25 +-$27,801,425.68 LIABILITIES. 18. 16, . C‘plhl stock pald in. Surplus fun a t‘:‘nm-wm prot- . $852,400.82 Sn taxes paid. 204,098.00 18. Amount reserved for taxes crue 858,421.73 12, sion fund ..... . A}o’i:n Rle;vna for ol toness ShesTER eat accrue & 20. a Due to 185,263.89 @Due ¢ companies and savings banks.. 86,141.45 . 21 ertifed checks TR i ssurer's checks numua 31,640.07 9,977,827.01 to check . Certifcates of ‘deposit dus 'in than 30 days (other Yo for money borrowed ,776. 27. Dividends’ Unpatd oo ) ‘3.2:%5 Beserved Cor” dividy 102,000.00 743,316.91 uom’i‘éa.g m- deposits (payadle' after 80 days, CR Tabjeet. to 30 me H than for money 82. Other time d Toial of ‘time depoeits, loan wll! account.. mmm 36. Liabilities other than those above stated. con- sidered—SAFETY. This truth is o obvious that its observance should be universal, yet investors con- stantly reach out | far an additional point or two in interest regard- less of the Safety they have to sacri- fice to get it Our ‘F ‘First Mortgage, Notes Invest- ment Bargain | 7% —are the safest form of security. Are secured by fr“"";‘:’“;‘o: conservative valu- ed, detads. Also | w'a 5t ” omes. us our boalklet | ) w yon the Sec- Safety First- | yrity behind these Then Profit” | notes. William S. Phillips Real Estate Investments 1409 N. Y. Ave. Main 98 Money to Loan £0.000-7% 1 s of $1,000 to $8.- 000, secured by first e oot o7 of traat on seal estate, Joseph l we“" Siae. o -I-'k'i'h-: EQUITABLE Co-Dpentlve Bm'ldmg —Save as you earn, and you will begin 10 got ahead 1n 8 finsnctal way and be pespared ter rgencies that may Subseriptions for the 81st Lsse of Stock Shares, $2.50 per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, Presifeat FRANK P. RERSIDE, {10, Casir In ‘vauit and smount aun i There are ways of summarizing the wisdom arid experience of mankind on some particular matter so as to provide some guidance for the individual. Financially, this has been donc in the formulation of our First Mortgage Notes on improved Washington real estate. It is the 182,022.42 151.414.16 m_national bank 11. Amount due from bazks ers and trust comparies in the Unitad States (other than included in items 8, ® or 10) 12. Exchanges for clearing house. . Checks on other bauks in the same city or town as report- ing batk (other than item 8,887.37 36,088.95 20453.0 wisdom of the ages that first mortgages mark “’.',‘:.': 1 Bio st the limitation of safety for those who cannot 4. Checks on banke g;:g,o;l;_- afford to take chances with their capital. parun: back and otker cash ,xmempflon fund with T d due Swartzell, Rheem & Hensey Co. :nuuwr from U. S 727 15th Street N. al . LIABILITIES. Washington, D. C. 17. Capital stock paid in. & 15 Tadiviaeg ™ " The Nation’s Home Town fits §$64,384.05 prols SUINE seasanos Circulating notes outstanding. . Amount due to federal reserve bank (deferred credits).... Amount due to nmn:u‘:uh 53 Years Without Loss te an Investor. in the L'nn-a States and forelgn untries (of than ‘htluded I items 21 or 2 Coruined” ecks cutstanding. Cashier's checks on own ban! cutstanding t deposits) subject to re- scrve (deposits payable with- in 30 days): Ingividual Tdeposits subject . eck 21, Cortineates o a»am v in less than 30 days (i than piSEmoney Borro 'HE heart often influences actions which the mind would never sanction, for an eloquent tongue fascinates the hearer. Brooklyn Srldgc has been “sold” hundreds of imes. - t: k Its) fi. biect "‘.:" .":.‘lm""i’"e...’ And so with securities. Inesti- mable millions have been lost in oil, mining and industrial stock in the :u! few years through the efforts of ighty Im.gluuv. salesmen with their alluring promises of wealth. maze of investments, our Ol! “urtfiuem Loans stand out for their stability. s or sul ptn motice, M postal sav- ings): 5. el vt epmte T o regetre, ioms R 2l : They encourage no visions of riches and splendor for the small investor, but our notes do make certain the return of both the wlnclpnl and a tidy 7% interest. They are in convenient denomina- tions. oee H.L.RUST: - 918-15BST.N.W.