Evening Star Newspaper, July 11, 1921, Page 16

—_—— \'~16’ - TOADTAXLIFT Movement to Reform Present | Am car Federal Levies by Na- tional Association. Calling upon the 33,000 manufactu- rers, wholesalers and bankers com- Prising the membership of the Na- [ AT LOPOMOUNE:: T tional Association of Credit Men to Petition their congressmen to formu- late new federal taxation laws, J. H. Trogoe, secretary-treasurer, has is- sued a message urging government economy to reduce the burden now borne by the taxpayers of the coun- very member of the National As- sociation of Credit Men should do his share uring needed gov- and should write presentatives in both the House Scnate and urge immediate action : formulation of a new and rea- ation law,” reads Mr. Tre- ge. present federal tax laws be reformed at the earliest Business must be should possible mom encouraged 3 ness must b nation’s burden, but must be gra proper freedom for development and a relief from everything that will tend (o hinder its development. Annociation on Record. “The National Association of Credit Men its twenty-eighth annual convention in Francisco last ménth went on record as being in favor of immediate action by Con- gress in formulating a new taxation system which will manifest the good faith of the government and evi- dence its intention to economize and to do its share in the recuperation of business. This call must be heed- ed. neglect the call would prove unfortunate and cause an uneasiness impatience in the nation which 11 means Congress should avold. taxatic it should, that up until 1917 the income of the nation was derived largely from cus- and excise duties and the di- reet cost of the government fell but lightly on the people. The present byrdens of taxation, however, are causing a great deal of concern. and we subm frankly the belief that more ¥ should be given to the subject and a clearer grasp of it acquired by Congress. . Fervor of Patriotism. “The government expenditures of 1920 exceeded the expenditures from 1863 has not received the study and for the reason largely 191 inclusive, a period of sevent « years. The fervor of our patriotism brooked no interference with the penditures that tended to efforts to defeat Without dwell- of our the central emp ing upon the w aused by our un- preparedne: we must dwell very forcibly on the need of economy in governmental expenditures and a re- Tief of prople from the heavy burdens of our present taxation. “We believe most earnestly that the se of prudence and common in the operating costs of f%e government would bring the ledger within three and a half billons for 1921, and we feel it should be done. Furthermore, the present tax law should be reformed. and immediately. The business of the country demands itas » necesary feature of our read- I&almvnl and our return to prosper- s conditions.” A. L B. Convention Schedule. The itinerary of the trip to be taken by members of the local chapter of the American Institute of Banking to Minneapolis, where the nineteenth an- onvention of the natlonal or- tion will be held from July 19 is as follows. Leave Washing- and Ohio rallroad, arriving in Chicago 10:45 Sunday morning. The dglegation will leave Chicago over the icago, Milwaukee and St. Paul rail- ohd . A10s Sunday morning and arrive in Milwaukee at 1:15. Remain- ink in Milwaukee until 12: morning, they then leave for apolis, arriving there at 11:30 a.m. The return trip will be made over thé northern route. The party will leave Minneapolis Friday night, July t 11 o‘clock. over the Northern Facific railroad. and come by the way of Duluth, thence by the way of the Great Lakes Transport Company to Houghton, Sault Ste. Marie, Mack- tnac_Island, Detroit, Cleveland, Buffa- lo; Niagara Falls. Philadelphia and Baltimore, arriving in Washington Friday morning, July 29. Maryiand Honds. The state of Maryland will receive bids up to August 15, 1921, for $100.- 000 413 per cent certificates of in- debtedness. known as bridge loan of 1920, and $500,000 4!2 per cent cer- tficatea "of Indebtedness, known as construction loan of 1920. Both are exempt from federal, state, county and municipal taxation. Attend Meeting in Seaplane. Charles H. Pietsch, Washington dis- trict sales manager of the R. L. Dol- lings Company, investment bankers, with local offices at 728 15th street, -czompanled by E. J. Newcomer, aratown district sales manager, I Q. C. Grubbs, Baltimore district Sales manager, attended & business conference on the eastern shore of Maryland, going there by hydroplane. The party left Baltimore at , ar- riving at the offices of the R. L. Dol- lings Company on the eastern shore at 10:15, returning, leaving the eastern shore at 12:40 by hydroplane and ar~ riving at Baltimore at 1:35. Features of Trading. Trading in Lanston Monotype and ‘Washington Railway and Electric preferred, together with the disposal of $14.000 worth(of the latter com- pany’s bonds, featured the activities on_the local stock exchange tcday. Twenty-one shares of Lanston, small lots, sold at prices ranging from 73% to 741, while five shares of the railway preferred stock changed hands at 57% and ten shares at 57%. Ten of the rallway company’s gen- eral 6 per cent bonds all of $1,000 de- nomination, brought 93%, and two of $1,000 each ‘sold at 93. There were also two of the company's 31000 4s sold a r REFINED SUGAR FIRMER. NEW YORK, July 11.—The raw sugar market was firm and unchang- ed early today at 4.37 for centrifugal, with sales of 10,000 bags Porto Ricos, prompt and July shipment, re- ported at that level. It was announced this morning that the committee late last week sold 5,000 tons of Cuba cen- trifugals to France at 2.88 f. o. b. Cuba. Raw sugar futures were firmer in scattered covering and trade buving, prompted by the firmness of the spot market, but after advancing the top points prices eased off under real- izfng and at midday were unchanged l\\ points net higher. efined was firmer with several of the leading refiners advancing list yflcu 10 points to the basis of 560 for granulated, while two were un- :&(ed at 5.20. Business was fair. fined futures were firmer and ten points higher on covering, although trading was light. ) —_——— MONEY AND EXCHANGE. NEW YORK. July 11.—Prime mer- cantile paper. 6%a6l2: exchange weak; sterling sixty-day bills and commercial sixty-day bilis on banks, commercial sixty-day Dbills, demand, 3.63 cables, 3.64. demand, 7. cables, 7.79. francs, demand, 7.6 Guilders, &omand, ‘cables, demand, Ellr Sweden, de- mand, 21.23; Norway, damnnd 13.60; Brazil Ag:n!hle. demand, 29. a nd, 11.00; Montreal, 12% Der ! T‘"dllcoum emmntlbond.s steady; rallroad lm\nn, steady; sixty days, nine- &&il and nlxnnnt-hq. £.per centy 4 turday afternoon over the| onqop o FINANCIAL." CREDIT MEN URGED| ™ Received by Private Wire o Open. High. Low. Olose. Ajfax Rubber...... 2 21% 18 19 All-Amer Cables. :oav, 0% 103% 108% Allted Chemical.. 37% 38% ‘Allied Chem pf..... i :‘ll‘!: m o rs Allis Chalme wmeon, o Am Agr Chem. & Fdy. Am Car & Fdy pf.. Am Cotton Ofl.. Am Druggls Am Express. Am Hide & Loa Am Hide & Lea pf. 6] 51 81 Am Inler::!lonl w :5‘: :% Am Linse . 25l % Am Locomo! 80% 80% B80% 80k M 4% "I:Z Am Ship & Com. % % W Am Smelting .37 87 0 ’l_'l Am Smelting pf... m. n% o1 Am Steel FAy..... 6% 26 26 Am Steel Fdy pf... m'q 801g 80'; B0 Am Sugar... . 65% 6B% 6% 68% Am Sugar pf Am Sumatri Am Tel & Teleg. .. m 103% 103 103% Am Tobacco. .. 7% % 07 U™ Am Tobacco (B). . Y 1 new 1o Am Tobacco Pf (n) 88% 88% 88% 88% Am Woolen....... u W 69% 63 684 Am Woolen pf. 5 9 95 Anacond. | s % % % Atchison. 82 8213 824 B2 Atchison pt 6% 7612 s T Atlantic Gul! 2 uW 2 B4 Atlantic Petroleum 15 15 15 16 Baldwin Loco..... 3% 7% 3% 7 Balto & Ohlo. .. 39 % 8% 38% Balto & Ohiopf... 61 61 61 Bl Beth Steel (B). % 49 48 484 | Beth Steel 8% pt. .. 100 100 100 100 Bklyn Rapid Trn.. 11 1 1 n% Butte Copper 4% 4 4 Caddo Oll. .1 o1 ounou California Petrol.. 3% 8% 37% 8% Calumet & Arlz... 46 46 48 46 Canadian Pacific. . 110% 110% 109 109% Central Leather... 344 4% 34% 3t% 26 %Y 22U Chandler Motor... 51% 0% 0% s6la A% 54% % N A% 0% 0% Chi & Northwn.... 65 65 € 65 Chi Pneu Tool..... B0% 50% B0% 50% Chi R I & Pacific 32% 33 2% 2% ChiRI&P6%DL.. 64% 64% 64% 645 Chile Copper. . 10% 10% 10% 10% Chino Copper..... 2 B 2 Coca-Cola. 2% 29% 29K 2% Col Gas. . 85 Ll 6% 54% Col Graphophone.. 5% 8% 54 6% Cons Distributors. Th 9 7% 9 ConsGasof NY... 86 8 8% 8 ConsIntiCalMin. 4% 4% 4 4% N% 4% M% UM% 6% 66 65% 66 Cosden & Co. 2% 2% % W% Crucible Steel. . 56% B6% &5 8 Cuban-Am Sugar. 13% 18% 13% 13% Cuban-Am Sugpf. 7 76 ' 7, 16 Cuba CaneSugar.. 8 8 6% 17 Cuba Cane Su pt. 21 21 19 20 Del & Hudson. 9%l 9%l 6ls 96 Dome Mines 1% 1ih 1% 1T Endicott-Johnson. 58% 68%s 8% 58k oS M 9 13% 8% 13% Famous Pllynrl 80 43 Fisk Rubber. . 1% 1% 1% 0% Freeport Tex: 12% 12% 12% Gen Asphalt. 4% 4% 8% Gen Asphaltpf.... 85 8 8 85 Gen Electric. ..... 127} 127% 127% 127% Gen Motors. 10% 1% 0% 11 Gua Mot 7%deb... 74 6 U Goodrich. ... 30 30 2% 29% Great Northern pf. 69} 69% 69l 69% Haslkell & Barker. 54 64 54 B4 Hendee MIg. Houston Oil. Hupp Motors. Illinois Central. indiahoma. Inspiration Interboro Metr: Interboro Met pf.. 11 n n n Intl Agri Chem pf. 3% 7% 8% 1% 3 Tk 72 un% u% 1% Intl Mer Marine Dt M 4% 8% B4 Intl Nickel. . " 1% 8% Intl Nickel pf. & 8 8 intl Paper. ... 53% 2% 2% Invincible Oil. % 10% 0% 2% 2% % Kansas City Sou. LI, %% 16 Kansas C Sou pf... 80% E0% 60 50 Kelly-Spring Tire. 37 37 6 38% Kennecott... . 19% 19% 19% 19% Keystone Tire.... 12 12 12 12 Lackawanna Steel 40 & 39% 39% Lehigh Valley. 5% 51% Bl% Hanhattan Eiev. .- Market St RY. Maryland Oil Maxwell Moto aMexican Pete Miami Copper...... Middle States Oll... Midvale Steel Montgomry Ward. Natl Cloak & Sult. Natl Enameling. .. Submarine Bol!. Superior Oil Tenn Copper. 2 “h N Y Central . 69% NYNH & Hart. 1% 17% N Y Shipbuilding.. 22l 2% 224 24 North America.... §7% 658 % 68 Northern Pacific.. 78 % B kd Oklahoma Prod... 1% 2 1% 2 Otis Elevator. 2 ” 2 2 Owens Bottle. 2% 2% 2% 2% Pac Gas & Elec, 58 [ Pacific Oil. . n% U% Pac Tel & Tel. “@ % Pan-Am Pete. “®U% a% Pan-Am Pete a% en Pennsylvania. : % Penn Seabd Ste 8% % % 8 People's Gas. 51 51 0% 61 Pere Marquette. 2% 2% 20 20 Phila Company. 29 29 %% 2B% Plerce-Arrow..... 19 19% 19 13% Plerce-Arrow pf.. 41 41 40 0% Plercz Ofl..... % % TH % Pitts & W V: 2% % % Pressed Steel Car. 71 n n n Pullman Co. ow % 04 M 9% Punta Alegr k. 28% 28 3% Pure Ofl....... 26% 26% 26% 26% Ray Con Copper... 12% 13 12% I3 Reading. . 69% 6T% 6T% Reading 1st pf. 3 39 39 9 Rep Iron & Steel.. 43 48% 4T% 48% Royal Dutch b4% 66% B4% B6% St Joseph Leat % % U% 0% StL&San Fran... 4% A% 2% U% St Louls Southwn. 24 24 % % Sears Roebuck. “ 6 ®2% ak Shattuck-Arizona. 6% 6% 6% 6% Shell Trad & Tran. 40% 41 “w% a Sinclair Oil.... 19% 20% 19% 2% Southern Pacific.. 76% 76% 76 7% Southern Rallway. 20% 20% 20 20 Standard Milling.. 9 94 94 " 106% 106% 106’ 2% 80% 5% % 5% 8% ‘Third Avenue... Tobacco Prod Trans Contl Oil. Union Oll. Union Pac! United Drug. 83 United Fruit......108 101% United Retail Stra. 68 524 63 U S Express. . 5% % % % USCastIrPipe... 15 15 15 15 U 8 Food Prod. 1% 1% 16 1 USIndusAlcohol. 61 51% 48 48 U S Realty. . ©% 4% % U 8 Rubber.. 4% 49% 4% 7% USRubberistpf. 9% 9% 9% 9% —_— FOREIGN BONDS. Quotations furnished by W. B. Hibbs & Oe. Prices at noon: lin 4. German gov. 4s.. 12 (nl::llntl Ber Glflllll 'fl' B u* 414, e 40 xu-t Anlllm i n ueu.'pr "Bk e 14 Nord. L. Bazk de 14 Vienna 4s. n"anrfim 3 French Prem. Bo. 1m British vic. 4. Nat. war loan nnm Loan Sa. Le Lef Bs. Mesteh u.. Italian notes 47 n Belgian Rest. 5s. 69 m"’.’fi- 1! Ge. 76 THE .EVENING .STAR, WASHINGTON, D. C, EW YORK STOCK EXCHANGE Direct to The Star Office. Open. High. Low. Close. U 8 Smelt & Ref... 30 30 30 30 U 8 Steel U% TR UK U S Steel pt. . 108% 109 108% 109 Utah Copper. . 49% 50 9% 9% Utah Securities. 8% 8k 8% 8k Vanadium Corp. 28% 2% 28% 2% Vivadou .. 6% 6% 6% 6% Wabash % 8 % 8 Wabash pf A L 21% A% A% A% Western Md. 10 10 10 10 Western Pacific. % UM% 2 UK Western Union.... 86% 86% 86% 8% Westhouse E& M.. ¢4 ¢4 4% ¢ Wheellng & LE 8% 84 8% 8% 32 2 1% 81% % 8% 8% 8F Willys-Overland.. 7% 7™ 7 1 i High. Low. Last. Call Money..... L] % 6 HOURLY SALES OF STOCKS. 163 600 12M.... 264 700 341 900 2 p.m... 406 700 —_— TREND IS UPWARD FOR BONDS TODAY NEW YORK, July 11.—In the main the inclination in today's bond market was toward higher prices. This was the result of a continued accumula- tion of money supplies and of the slackness in the demand. The leaders fn the railway section were the Hill road group. The new Burlington col- lateral 6%s, which it took some time to digest at the 96! level, sold as high as 983 today. This was accompanied by a similar advance In the Great Northern 7s, which got up to 981, as against their low also of 961. St. Paul general mortgage 418 jumped a point from 73 to 74. Pennsylvania 6%s were a sha.l> firmer, and Baltimore and Ohio 6s gained a half point to 89. Some Somewhat Higher. Louis and San Francisco incomes were somewhat higher. (ither -cpre- sentative bonds, like Northern Pacific 4s, Baltimore and Ohio 58 and New York Central 7s and debenture 6s, were all the same. Despite the extreme weakness in Cuba Cane Sugar stocks, the 7 per cent convertible bonds did not lose any further ground. In fact, most of the transactions were made at 58, as against last week’s low of 57. The steadiness in these bonds rather fitted in with the claim by people who are supposed to know that there is an asset value back of them sufficient to warrant the present level, regardless of the company. Cuban American Sugar 8s were unchanged at 971. Cerro de Pasco 8s lost a fraction to 10814 Goodyear 88 were slightly firmer, and the Kelly Springfield 8s unchanged in face of the weakness in most of the tire shares. Mexican Petroleum 88 were strong- er and Midvale Steel 5 got across 76, as compared with last wesk's close of 5. Steel sinking fund 5s were in demand at 95 and Westinghouse 7s were strong again. There were no ‘new offerings an- nounced today. The liberty bond list was irregular, with the 3its slightly higher and the second and fourth 418 lower. Foreign governments were i the main strong. Norway 8s rose an- other half point to 102%. Belgian 8s | were up a fraction to 931, and the 68 of 1925 were also somewhat bet- ter. Parls 6s sold at thelr high of 100, and Zurich 8s again touched their high of the year at 99. RENTS OF 18 TENANTS IN ONE HOUSE RAISED Board Grants Higher Charges in Nansemond Apartments. One Reduction. _Rents of eighteen tenants in the Nansemond apartment house, 2140 N street northwest, were raised by amounts averaging $15 a month in determinations handed down today by the District rent commission. Mar- garet Jean Calvin, owner of the apartment house, was the complain- ant in these cases, but was named de- fendant in another case where the rent was lowered. The increases follow: Thomas Wright, apartment 1, from $25.50 to $35 a month. H. T. Watson, apartment 6, from $29.50 to $40 a month. T. E. Harty, apartment 7, from $25.50 tnDsssJ.so\? month. . J. Niland, apartment 20, from $29.50 to $38.50 a month. Horace Johnson, apartment 21, from St. 4+ $33 to $47.50 a month. J. W. Pritchard, apartment 23, from $38.60 to $57.50 a month. Ernest Fox, apartment 25, from $34 to $47.50 a month. Hattie E. Burdette, apartment 31, from $32.50 to $47.50 & month. Theodore Cameron, apartment 38, from $35 to $50 a month. Jules Chaumontet, apartment 32, from $38.50 to $57.50 a month. L. E. Smithers, apartment 34, from $35 to $55 a month. D. R. Harty, apartment 35, from $35 to $47.50 a month, J. W. Lunsford, apartment 36, from $32.50 to $42.50 2 month. Douglass L. Watson, apartment 40, from $32.50 to $40 a month. M. J. Lynch, apartment 41, $33.50 to $47.50 a month. S. A. Galloway, apartment 43, from $33.50 to $55 a month. Bessie E. Taylor, apartment 42, from $36.50 to $55 & month. Helen R. Bliss, apartment 46, from $32.50 to $47.50 a month. The rental of apartment 2. occupied by Fred F. Graham, was reduced from $60 to $45 a month, on complaint of the tenant. DOCTOR’S WIFE DIES. Mrs. Laura Ross Hazen Passes Away—Funeral Tomorrow. Mrs. Laura Ross Hazen, wife of Dr. Henry H. Hazen of 1912 R street north- :en, died yesterday at the family resi~ Funeral services will be held tomor- row afternoon at the V. L. Speare Com- from glnfn chapel, 940 F street northwest, 130 o'clock. Interment will be in Rock Creek cemetery. e OIL STOCKS. Quotations furnished by W. B. Hibbe & Co. Ale Al Bld. Asked. orne-Serymser Co. 340 60 Buckeye Pipe Line ] Gheseborough Manufact; 160 170 Continental 01l Co. 104 108 Crescent Pipe Lim Co.. 27 28 Gumberiand Pipe Lin Eureka Pipe Line G-:m Signal O sE2eB8E88e niatEiulistvatnak 7 530 % tanda 145 !tlndll’fl ol Co. New ’Wl 300 tandard Oil Co. Ohbio. 265 Swan & Finch Co 25 Unlon Tank Line Co. %0 Vacum 01l Co.. 200 Washiogtoa Oil Co.. 28 —_— LIBERTY BOND CLOSING PRICES. NEW YORK, July bonds closed: 3%s, .. 87.00 bid; second 4s, 86.80; first 4%s, second 4%s, 86.96; third 4Xs, fourth 4%s, 87.00; victory IKI. %o-98.36 F3 3 z e 13.0 (%3 85. Cows 23.50. 12.75. Grain, Produce- GRAIN AND PROVISIONS. BALTIMORE, July 11 (Special).—Po- tatoes—New, per barrel, 1.00a3.00; buuhel 50a1.15; asparagus, dozen, 1.208. 3 eans, bushel, 75a1.50; beets, bunch, Cabbage—Per head, 2a10; carrots, 3a5; celery, dozen, 1.00a1.50; corn, dozen, 12 a35; cucumbers, baskef, 1.00a1.10; egg- plants, crate, 5.0026.00; lettuce, bushel, 50a1.00; onlons, per 100 pounds. 1.50a 2507 peas, buihel, 3.26a350; peppers. basket, 1.00a1.25; squash, basket, 75a90. Tomatoes—Basket, 1.50a3.00; 'apples, barrel, 2.00a5.0 bushrl hamper, 1.00a blackberrl, art, 10a22; canta- loupes, crate, 1.00a3.75; cherrics, pound, 10a20; currants, quart, 10a15. Huckleberries—Quart, 20a25; peaches, crate, 1.50a: pincapples, crate, 3.50 quart, 20a22; water- Selling Prices at Noon. 2 red winter, spot, % red winter, garlicky, ul)ol‘ p & July Wheat, 121% per bushel; Au- gust, no bid. Sales—Bag lots of new wheat, as to quality and condition, at 1.00, 1.03, 1.05, 1.08, 1.10, 1.12, 1.13, 1.15 and 1.1§ per bushel Cargoes on grade—No, 2 red winter, 1.22%; No. 3 red winter, No. 4 red winter, No. 5 red winter, garlicky, 112% garlicky, 1.08% Corn—Cob, new, yellow, 3.75 per bbl; for white, ‘15 to 20 per bbl; lower in carload lots; contract corn, spot, 7114; track corn. vellow, No. 3 or better. domestic, 8. Oats—No. 2 whité, 47; No. 3, 46. Rye—Bag lots of nearby as to quality, 1.2001.26 per bushel; Western export, spot, 1.34 per bushel: No. 3, no_quotation: Hay—No. 1 timothy, nominal; stand- ard timothy, 22,00a22.50; No. 2 timo- 20.00220.50; No. 3 timothy, 14.00a No. 1 light clover, mixed, 19.50a No. 2 light clover, mixed, 15.00a No. 1 clover, mixed, 19.50a20.00; 2 clover, mixed, 14.00a17. 11.00a13.00; ‘No. 1 clover, 18.00a18.50; No. 2 clover 12.00a13.00; No. 3, 10. 00a 114.00. No. 1 straight rye, nominal; No. 1 tangled rye, 17.00; No. 2 tangled rye, 16.00 . 1 wheat, 15.00a15.50; No. 13.00a13.50; 2 wheat, No. 1 oat, nominal, 15.5016.50. CHICAGO, July 11.—Hot weather in the northwest sent the wheat market upward today. Some attention was also given to car shortage complaints from the southwest. Besides, country offerings taken as a whole, appeared to be only moderate. Opening quo- tations, which ranged from 13 lower to 1% higher. with September, 1.18 to 1.18%. and December, 1.201% to 1.21, were followed by declded gains, and then something of reaction. H Absence of rain had a bullish in- fluence on corn. After opening % off to 1 higher. including September at 5912 to 60, the market scored & ma- terial advance all around. Oats hardened with other cereals, | starting % to % higher, September{ 381 to 3$%a3sl, and then contin- uing to display strength. Higher quotations on legs helped to lift provisions Later the wheat market underwent a setback, owing more or less to gos- sip that the movement of new wheat was Increasing. In addition, the Chi- cago elevator strike operated as a | drag. The close was steady at the same as Saturday’s figures to Iz higher, with September 1.18 to 1.18% and December 1 Corn was reported as commencing to fire_in parts of Illinois and Indi- ana. The close was firm, 3% to % net higher, with September 59% to 5914059%. \\ HI' AT— Open. High. Low. Olose. b 118 Ll 1165 LI CORN — 4 s Keptember . 591y 801, 59 591, Decomber 3 T U T OATS — September . 881, 881, BT December 40% 5013 398, 401 NEW YORK. July 11—Flour—Firm; spring _ patents, 029.00; spring clears, 7.25 soft winior strajghig 6.00a6.75; hard winter straights, 28.00. Pork—Steady; mess, 24.00a24.50 family, 30.00a33.00; lard, steady; mid dle west, 11.70a11.80. — COTTON MARKETS. NEW YORK, July 11.—The feature in the cotton trade this morning was the strength of the Liverpool market and the increasing spot wusiness ru- ported there. The local market opened firm at an advance of 12 to 17 points In response to this showing, which was_only partially modifled by the weakness of foreign exchange, and active months sold about 17 to 20 points above last night's closing fig- ures during the early trading. Futures opened firm: July, 12.50 of- fered; October, 13.00; December, 13.50 January, 13.53; March, 13.84. LIVERPOOL, July 11.—Cotton—Spot in good demand; prices firm; good middling, 9.03; fully middling, middling, #.13; low middling, good ordinary, 6.08; ordinary, 53. Sales, 12,000 bales, Including 8,100 America Receipts, 15,000 bales, all American. Futures closed quiet but steady; July, 8.36; October, 8.70; De- cember, 8.8%: January, 8.86; March, 8.96; May, 9.02. NEW ORLEANS, July 11.—Too much rain in the western belt and a much o and Live Stock LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per doz., 29a30; average receipts, 27a28. 17 Live poultry—Roosters, per 1b., tarkeys. per 1b., 33a35; chickens. spring, per Ib., 36a40; hens, per I 25; keats, young, each, 60a75; ik~ ens, winter, per 1b., 30. Dressed poultry—Fresh-killed spring chickens, per Ib., 40a45; hens, per 1b., roosters, per lb., 22; turkeys, 38a keats, young, each, 60a75; chick- ens, winter, per 1b., 35a40. Pork—Dressed, small, per 1lb, 15. Live stock—Calves, choice, per Ib. 9; lambs, cholce, per 1b, 10%; live hogs, 9%, Green fruits Apnleu. per bbl., 3.00a 10.00; western, per box, 3.50a4.50; California_lemons, per box, 10.00a11.00: California oranges, per crate, 6.00a 6.50; grapefruit, per crate, 6.00a8.00; peaches, per crate, 2.25a3.50; blackber- Ties, per qu: 20430; raspberrics, per quart, 25a45; cantaloupes, 4.00a5.00. Vegetables—Potatoes. 'new, No. per barrel, 250a. 00; lettuce, nearby, per 5 New York lettuce, pel celery, per do 0a Romaine lettuce. 1.00a1.5 cym- per crate, 1.50a1.75; spinach, 3.00a4.00; kale, per barrel, Deppers, per crate, 2.00a2.50; per barrel, 6.00a12.00; onions, 1 cabbage. per - crate, 2.00a3.00; cucummru. 1.50a2.50; eRg- plant, per crate, 100a3.50; tomatoes, per [ paragus, per doz., 1.00a £00a10.00 per barrel, 1.00a1.50; peas, nearby, or. 00a3.00; beans, pxr hbl _— DAIRY MARKETS. BALTIMORE, July 11 (Special).— Chickens—Alive, springe ., 338 white leghorns, 30a3 e 7a30; old roosters, 17; ducks, 22a26; spring ducks, 28a32; pigeons, palr, | 33a40. EgEs—Loss off, native and nearby, firsts, 29a30; southern. 28. y, 1b., 39a10: nearby creamery, 36a37: ladles, i rolls, 23a25; dairy, prints, 5: process butter, 28a29. CHICAGO, July 11.—Butter—Highe! creamery extras, 38; standards, 3 firsts, 33a37; seconds, 29a Eggs—Hixher: receipt. cases; firsts, 29a30; standard ordinary firsts, inciuded, 2 Butter—Creamery fan. prints, 40a4. 24a Firm! receipts, 5 packages; creamery higher than e\rru 3935240; cream- ery, extras (92 score), = 38%a3 creamery, firsts (88 to 91 score), 361 1\3;%2 packing stock, current make, rm: receipts, 18.007 cases; fresh-gathercd, " extra firéts, 38as7. do.. firsts. 33a35; state, Pennsylvania and nearby western hennery whites, Arsts to extras, 40a50; do., browns, extras, 40a42: do. gathered browns and mixed colors, firsts to extras, 33a 39: refrigerator, firsts. 3312235 Cheese—Firm: receipts, 2416 boxe state, whole milk, flats, fresh, special, Thalsy; do. averagd run.’ Tia17ii whole milk, twins, specials, 175218 o, averake ran. 174173 3 BAR ¢ NEW VER QUOTATIONS, YORK. July 11.—Bar silver, domestic, 991;; foreign, 59%. Mexican dollars, 45%. LONDON, July 11.—Bar silver, 36%d per ounce.’ Money, 4 per cent. Di ccunt rates—Short bills, 4% per cenf three-month bills, 5% per cent. EQUITABLE Co-Operative Building Association Organized 1879 41st YEAR COMPLETED Assets . .$3,272,008.87 Surplus -$1,085,322.89 Systematic Saving Leads to Great Accomplishments —Bave as you earn, and you will begin to get ahead in a financial way and be prepared for emergencies that may arise later. Subacriptions 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, President FRANK P. REESIDE, Sec'y. Net Interest First Mortgage Notes better Liverpool market than due, to- gether with spot sales of 12,000 bales there, put the price of cotton higher on the opening today, and in the first hour of trading values galned 20 to 27 points—July rose to 12.00 and Oc- tober to 12.76. Futures opened steady; July, 11.99; October, 12.90; December, 13.05; Janu- ary, 1 March, 13.25. —_— CHICAGO LIVE STOCK MARKET. CHICAGO, July 11 (United States Bureau of _ Markets).—Cattle—Re ceipts, 13,000 head; mostly 25c higher; veal calves, steady: half load year- lings, 9.10; top handy weight steers, 8.90; bulk beef steers, 7.00a8.50; bulk fat she stock, 4.50a6.75; canners and cutters largel. .00a3.2! bulk bo- logna bulls, 4.75a5.25; butcher grades largely, 5.50a6.50; bulk veal calves, 9.75a10.25; stockers, steady; feeders, dull. Hogs—Receipts, 43,000 head: active, 15 to 25 higher than Saturday's aver- age; mostly 25c up; big packers buy- ing sparingly; top, 10.15; bulk better grades, 9.75a10.10; bulk packing sows, 8.65a9.00; pigs, 50 _to 7.7 cents higher; bulk des(rnble, 9.75a9.9 Sheep—Receipts, 18,000 head; best native wooled lambs, around steady; lower grade natives, steady to 25 cents higher; early top natives, 10.76 ‘western sold early; !he!p, tead, light native ewes, 5.0 —_— BALTIMORE LIVE STOCK MARKET. BALTIMORE, July 11.—Cattle—Re- ceipts for week ended noon today were 1,743 head, against 1,525 head last week. Receipts, 62 carloads for market for the week; 30 carloads for market today. With very light sup- ply and better grade of cattle, the market advanced 50 cents on all kinds from the extremely low prices of the past two weeks. A load of fancy ‘white-faced Herefords sold for MONDAY, JULY 11, SAF —not only a 1921. ETY promise, put an established fact when you invest in FIRST TRUST NOTES INTEREST 7% —in your mail the day it is due. SHANNON & LUCHS 713 14th St—Main 2345 Money to Loan $50,000—7% intereet, In sums of $1,000 to $3,- 000, secured by first deed of trust on Teal estate. Joseph I. Weller &2 Wi L & Trast Care of Over a Century Without a Loss the First Mortgage After the selection of a mort- gage investment the question of taking care of details and fol- lowing the mortgage until re- paid is next of importance. When you putchase a First Mortgage from us we attend to all detalls to investors. remit interest that taxes and special a ments are paid the real estate; fire insurance nies is maint, title ix free of expense ‘We collect and prompt! by the owner of that ‘sufficient in sound compa- ained; that the good and that the prin- cipal is paid at maturity. In amounts o Our first mortgages now yield f $2350 and up. B. F. SAUL CO. Mortgage Loans 934 N. Y. Ave. N.W. REPORT OF THE CONDITION Of the MERCHANTS’ BA NK Of Washington, D. C. &t Washington, in the the close of busin District of Columbia, at June 30, 1921 RESOURCES. 1. aloans and dis- ot includi rediscounts (e <eDt those shown, in band c). Total loans . 1943.407.99 2. Overdratts, unsecured, $1,446.85 144605 . U. 5. government securities 5.652.03 . including fum on $179,496.34 securitles, etc T.s. 179.496,34 6. Baoking bouse 16200000 7. Furnitcre and fixtures 5. Other real estate owned. ¢. aDue from Da- i $148,045.30 eDue from all other banks.... 4.540.42 Cash in vault . Furelzn “money . Total . Exchanges for clearing house Checks and other cash item: . Other amets—Bilis for mllec- B1.819.05 270.00 1.721.81 LIABILITIES, 15. Capital stock paid X $100 $500 $1,000 || &% ] Absolutely Safe S 817252 e . dDue to tru companies _and Geo. W. Linkins SRRt pr 1719 K St. 21. Certified checks . 3786685 “Thirty-five Years of Safety” 2] Cashier's checks outsianding.. 4,779.57 Demand deposits (deposits payable within 30 days): 23. Individual deposits subject to Check 1,658.717.28 . Certificates of deposit due {F Ay l:dlhfl' than 4660 f A.A.Housman&Co. || | ns.zrs i . Diner ‘demang deposiis 4 Hl 20 Broaa Street, New York Total dempna ge Geposits, Members of All o Rbject. o i 20. Certideate m‘-"a“mfi' (other 3 es "of deposit (of Leading Exchanges e et Tamromedy T 28.500.00 Orders executed on a b ;. T2 ETAE strictly commission basis, 30, 3 in stocks, bonds, cotton, = ‘"}‘,; payable. “,";‘o“,"{“‘";:‘ o g 2 » lcates o grain, sugar, coffee, cotton- senting money borrowed 75,000.00 seed oil and provisions. Orders also 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. Steerfl — Choice, 8.25a8.7 butcher, 7.50a8.00; medium, 0 EDB'I !5 common, 4.50a6.00. Heifers—Choice, 7.35a7.50; fair to good, 5.26a7.00; common to medium, 4.50a6.00. Bulls—Cholce, 5.5026.00; falr to good, 4.60a5.25; common to medium, 3.0024.25. yws—Cholce, 5.00a5.60; fair to good, 4.00!1.75; common to medium, 1.50 sheep and lambs—Recelpts for week ended noon today were 18,854 head, sgainst 6,441 head last week. Liberal supply of lambs and fair de- light, -mwly ‘v! «ld sheep and mand; 25; .lambs, 6.00a strong. Shee] Hog-—Recfl s - for week ended noon today were 9,974 head, against 8,309 head ‘last week; light supply; market higher; lights, 11.40; medium, 11.40. Pigs, 11.40; roughs, 6.00a8.25. Calves—Receipts for week ended noon today were 2,108 head, against 1,141 head last week; hea: .! mpply. market higher on good veal; calves, 4.00a11.50. FINANCES COPPER TO ITALY. ‘The War Finance Corporation has announced that it had ldvuu:ed 146,000 to ing concern for finane the 500 tons of copper to 36. Liabilities —other those above stated: Bills payable (deferred payment Total - District of I FRANE b HARMAN, Jry above-named bank, do above statement knowledge and belief, is true to than on real -u-lumn' e st of my )" **Haray 3. nox% Pet A.-Dnrrl.‘m. Peter M. 1 ot B Herril, 3o b Deame, Michael J. Keane, Be N terry White, Birry Boikier: Joseph J. Kaveney, John Zanier, Directors. LIFE INSURANCE COST ‘That is exactly how it figured out for N. S. Vorhees. At 41 years of age he took ordinary life insurance with that strong old institution, The Mutual Benefit Life Insurance Company of New Jersey. But this company is not run for profit—its large annual dividends went to change Mr. Vorhees’ ordinary life into an en- dowment policy. Last year itt matured for $2,043.35, which was $398.28 more than all the premium he had paid in. So in the end 26 years’ protection cost him nothing—indeed made him money. Our booklet, “Endowment Policies at Life Rates,” tells about these remarkable policies. Let us send you one. P. H. TAMP- LET, General Agent. Dwight T. Scott, Suite 31, 1425 G St. N. Special Agents: Frank D. Roach and Phone Main 2277 FINANCIAL, $1,100 BUYS $110 INCOMF Can England Muddle Throu'rh" C. W. Barron writes from London the first of several articles on the effect cf the coal strike and the shipping slump on England’s ability to Thot. NATIONAL CAPTTAL SE F. 6803, 1416 H ST. N.W. “Gilt Edge” 7% pay, for his new financiai First Mortgage Notes meekly AL Barron’s $250 Up to $5,000 ‘We look after all details and furnish guaranteed titles with all notes. T} ool "absolutely mate form " of iavest- Chas. D. Sager 923 15th St. N.W. Loan Dept., M. 36. At principal news-stands, 20c¢ SPECIAL OFFER—You can have the next six issues mailed to you by sending One Dollar to Barron’s, 44 Broad St., New York. “gafety first” are often cri for their lack of sportsmanship. man who realizes the value of money does not go in for chance proposi- tions; instead he looks for safe, well secured investmenis. The First Mortgage Loans we offer are in the latter class. They are secured by improved real estate in the District of Columbia. - The prop= erty is thoroughly investigated by ex- perienced judges of real estate values, and the loan is rarely excess of one-half of a conservative total val- uation. This means that for every dol- r you invest in our t Mortgaze Loans there is two dollars in security back of it—can any investment offer better security? They pay 7% in- terest. They are in ‘convenient denomina- tions. co H.L.RUST-** 912-15TST.N.W. PHONE MAIN—-6888 REPORT OF CONDITION NATIONAL METROPOLITAN BANK At Washington, in the District of Columbia, at the close of business on June 30, 1921. RESOURCES. 1. a Loans and discounts . 76T 2. Overdrafts, secured, §95.57; unsecured, $3.524.0 3,918 3. Customers' liahility account of “A this bank and by other banks for acc and now outstanding....... 50,000.00 4. U. S. government securities ownel a Deposited to secure circulation (U. par_value) £800.000.00 b All other United States governmen 305,822 Total . 5 3 5. Other bonds, stocks. securities. ete 5 6. Banking house, $825,000: furniture and fixtures, $4.1 . 8. Lawful reserve with federal reserve bank . S 9. Ttems with federal reserve bank in process of coliection (rmt available as reserve) 79951511 10. Cash ir vault and amoun om national ban 2,38%.297.96 11. Amount due from banks. bankers and trust compa United States (other than included in items §, 9 or 10). 443.759.32 12. Exchanges for clearing house 202154.3% 13. Checks on other banks in the same city or town as reporting bank (other than item 12) 95.557.29 Total of items 9, 10, 11, 12 and 13 .$3.920.2 14. Checks on banks located outside of city or fown of reporting bank and other cash items 22,446.06 15. Redemption fund with U. S. treasurer and due from T. S. treasurer . 4n.0n0.0n 16. Other assets . 38.602.27 TOtA] «.onsassssssvssnoss reeeeseesesaesacoase..§13,603.835.69 LIABILITIES. o ST £500.000.00 Capital stock paid in . 540,000.00 . Surplus fund .. . Undivided profits . rved for Interest and taxes a Res accrued ———— $310.818.14 cLess current expenses, interest and taxes paid 453.08 . Circulating notes outstanding . Amount due to federal reserve bank (deferred credits) Amount due to national banks ... . ‘Amount due to state banks. bankers and trust companics in in- the United States and foreign countries (other than cluded In items 21 or 22) . Certified checks outstanding . . Cashfer's checks on own bank outstanding ‘Total of items 21, 22, 23, 24 and 25 Demand deposits (dther than bank deposits) sum. ot to re- serve (deposits payable within 30 days) . Individual deposits subject to check . . Certificates of deposit due in less than 30 day for money borrowed) .. deposits) subject to reserve, items 26, 27, 30 and .. SR.601.664.03 Time deposits nuhj!ct to reserve (psvnble after 30 days, or subject to 30 days or more notice. and postal savings) Certificates of deposit (other than for money borrowed). 32. . Other time deposits . 35. Postal savings deposits . Total of time deposits 3 items 82, 34 and 35 . £1.824.250.17 TUnited States deposits (other than postal savings) including war loan deposit account and deposits of United States dis- bursing officers ....... 7.565.34 42. “Acceptances” executed by this bank for customers, and to furnish dollar exchange........... Saemisesie 50.000.00 . Liabilities other than those above stated .. 81 Clty of Washing| 1, C. F, JACOBSEN, cashier of the above-named bank. do solemnly sweqr that the above statement is true to the best of my knowledge and beli C. F. JACOBSEN, Cashier. Subscribed and sworn to before me this 9th day of July. 1921. “tval) ROBERT E. BRIGGS, Notary Public. Correct—Attest: GEO. W. WHITE, WALTER BROWNLETY, C. CHARLES JACOBSEN, . F. R. OGILBY, ‘W. R. TUCKERMAN, JOHN H. MOORE, Directors. REPORT OF THE CONDITION FIDELITY SAVINGS COMPANY, Inc. “THE MORRIS PLAN" In the District of Clo'l;mbll. at .the close of business At Washington, June 80, - RESOURCES. > 1. a Loans and discounts, including rediscounts (except those BhOWD In b 8Nd €)evevrencansessevemens Total 10ANS..cccecessessomccssrnrecmmeonssceos 332,632.89 Deduct: 4 Notes and bills rediscounted. ..eeeessmeseeeecesass 75,176.00 ————$757.456.89 8. U. 8. ernment securities owned & Pledged o $2.500.00 ¢ Unpledge ed . . 2,850.00 4 War !lvlnn Certificates and thrift stamps. . 183.00 Total U. 8. government securities 7. Furniture and fixtures. 8. Other real estate owned. 9. ¢ Due from all other bank: 11. Checks and other cash items 12. Cash in vault. 14. Other assets, if any (attach schedule), due from industrial finance corporation. cssesspessssensssssssssoassrss 383015 ‘Total evoessoesreresenneee-$773,649.64 15. Capital stock pald in. 16. Unearned interest. - 17. a Undivided profits.. 3:;.;'22;; b Less current expens sisiEan 19. Amount reserved for all interest accrued 3,250.93 20. 4 Due to trust companies and savings 8,000.00 21. Depreciation losses. eee 5,420.79 22. Recording_ fees 25.60 Demand deposits (depollll pnynble within 543.66 23. Insurance . Time deposits (Dlylble after 30 days, or subject to more notice): 29. Certificates of de?ollt (other than for money borrowed) 36. Morris wlln installment investment certificates........ 10 510. l $773,649.64 75,176.00 amed bank. do solemnly sweam f my knowledge and beller RD, Manager. 37. Lllblll(lea for rediscounts. District of Columbll. City of ‘Washington, ss H. BYRD, manager of the above-n that the thove statement is true to the best of a: f J 21, e i ks SR i 'fvh w’r‘}-‘" Notary Publio. Carrect—Al H- g FD\IO\DS. NRY P. BLA e FRANK 8. mmm-. DR W mcnou chARD FORD, . Directors, —a