Evening Star Newspaper, July 12, 1921, Page 18

FINANCIAL, GOLDHOLDINGS AT N Received by Private Wire 3 e Open. Bigh. Low. Close. Adams Express... % 4% ®4% @4 . Ajax Rubber, ° Wk 10 1% 2 Alaska Juno. .. ™ 1% ™ . % Allied Chemical... 39 39 89 S Allis Chalmers.... 31~ 81% . 31 Am Agr Chem. we A Hig Treasury Statement for June [AmBazkNete: - & 2 = Sugar. = » s Shows Peak at 7 $3,223,351,644. The gold holdings of the country attained a new high record last month, according to the Treasury Department's statement, which shows that on July 1 gold coin (including bullion in Treasury) was $3,223,351,~ 644, This represents “un increase over the previous month of $48,314.448 and an increase since July 1, 1910, of A S L it o Xl NEW YORK STOCK EXCHANGE Direct to The Star Office. High. Low. Oloss. 8 % Trans ContlOil... 7% L4 Union Bag & Papr. 62 2 a a 19 4 19 » 19% 119% 119% 0% 6% 6% United Drug. = Y% MW W% UnitedDrugist... 41 & & & United Fruit. 101% 104 M01% 104° United Ry Inv. % 8% United Retail Strs. 53% U 8 Food Prod. 1% U 8 Indus Alcohol. 8% U.8 Rubber. . 4TH U.8 Rubber 1at pf. %% 8 Bteel. 6% o% oY% PP T L LA PLLLEE FUE LN °§ sBagugnzsnyegiznansy sl gEppnaugen ugizneges $535836,782. For the firat six months 18 1% us o e average gain in gold stocl % 7 Am Tobacco (B).. 117% 119% w X m::!h.lpproxlml!ely $73.000.000 & | O o acco pE (n) 88% :‘ g 43 Per Cent of World's Stock. :“: »h 3% e, The largest addition to the gold 7% ) K oo e 28%55:000 " This | Atlantio Gulf. ... e e @ Osll Mopay: -+se,L 96 Sras"in 1356" "Thers are indlcations | Atlantlc Petroleur 1% 10 1% HOURLY SALES OF. STOOKS: that 1921 will make a_new record in | Baldwin Loco. ™ W B 11am..... 1960 © 12M... 1920 this respect. For the first six months | Balto & Ohlo. 9 W 3 1pm..... 265 200 2p.m... 297 300 the gain was within $91.000.000 of | Barnsdall (B! n n u —_— l{m 1916 record—and the flood con- [ Beth Steel (B). o % :% CURB STOCKS. :"'1‘"1::' United States has now about BklynRepldTrn.- 0 O Quetations furaabed by W. B. Hitbe & Co. 3 per cent of the world's known ! ~12:18 p.m.~ Soid Rtoe with o1y’ ‘aboat "¢ per | Butte & Superior. . 184 1 3 5 Bid. Asked: cent of the population. 1B\murg::._ ::: N T u% fix'l:'a ’n losives . = 1{ 1:* Insurance Company Elects. g:f;}:m_- Poxa..l trs W6 ¥R % 9% 10 At the annual meeting of the stock- | Gaueornia Petrol.. 38 8% 38 38% 2 » holders of the National Union Insur-(CaUOrREolie " 2e 72 7 '@ 2 B ance Company of Washington, held at oxn 110% 110% 109% 109% 5 o the offices of the company, 918 F|Canadian Pl:lflo. Lol s it T “ street, the following board of direc- |Central Leather . m.om 12 14 tors was chosen: Charles B. Bailey, | Centrai Leathpt.. Tl .. ] Thomas Bradley. Floyd Davis, Albert - i . Fox. W. T. Galliher. John B. Lar- a% I ner, Philip F. Larner. Walter S. Pratt, S5k t5 85 +4 Pu jr. B. F. Saul, George Spransy, John % W B 2% 3 C.'Weedon and J. Leo Kolb. @h 0 O |Ciries Service prd. P 1 The board organized by the election | Ghj Pneu Tool. 0% 80 50% | Columbian Emerald « o) of the following officers: _Albert F. & Pacific.. 33% 8% 8% 3% | Commonwealth Fin ey 8 Fox, president: Charles B. Balley,|Ghi R o0 ple. 6% 6% 64 6 |Consalldated Coppe 3 13 T president: 8. F Saul, vice presi: [CRRI&P %D &80 £8 Loy tos | Sontinental Motors [ 3+ ] dent: Philip F. Larner, secretary, and m% 29 8% 3 |DavieDaly . 5 7. William H. Somervell, assistant secre- 6% 63% 634 €% | Dominlon OH % 8% tary. 5% B% B% B4 | Durane Mot 5 e Prince Georges Bond Issue. 1 Graphop! 5% 5% 8% 84| Empire Food jucts 20% 21 Baltimore bankers will submit bids| &0 g Distributors. 9 9 7% 8%/ Engineers' Petroleum 11, 24 on the issue of 5 per cent thirty-year | CONS TG Min, 4% 4% €% % | Eureka Croesus 30 32 school bonds, which Prince Georges |SonS It Ul B° iw 35 aa% | Farell Coal A T county, Maryland. will sell on July |Cons Textuer oY% 5% 162 19. This is the second issue brought ™%, H 3 out by the county, the first being HAglHr4 By M $66.000 5 per cent road improvement y |G 8 8o bonds, which were sold to the Mer- 8 9 cantile Trust and Deposit Company % 8 3 ] on a 5% per cent basis. It is not be- W% 2 | Heeln ..o FCI ] lieved that the present issue will sell O L] 7 % at such a high level. Dome Min ” n 121 1245 Personal Mention. Endicott-Johnson. 68% 61% B&% 60% 16 1: E. L_Hillyer, vice president of the |Endicott-Johnpf.. % %4 8 8 3 1 Tnion Trust Company, has returned to | Eri 8% 18% 187 2 the city after a vacation of several|Erie 18t pf 104 19% 1% 18, 2 weeks, during which he enjoyed an (Erie2d pf. 1% 13% 13% 13% 2y 2y automobile tour through New Eng-|Famous Players.. ¢ 5% &% 4% O land. Famous Players pf 7% e % 2 3 Siaking Fund Purchase. Fisk Rubber. W% % 1% 1% T The Secretary of the Treasury an- Bh 3% 13 1B - 133 % nounces that the first fiscal years op- - T ) eration under the cumulative sinking 13 15 fund established by the act approved H % March 3, 1919, were completed June 13 = 30, 1921, and that $261.250,250 face|Gen Motors. n% u% 1 1 ,5 20 amount of victory notes were pur-|g.n, Motorsptf. a% % B% 6% 1% 1 chased and retired for account of the [ 3R YT a ' 65 65 caw sk . i sinking fund during the fiscal year.|GenMOtSH' o% 0% oK% % 7% k1 The total principal cost of the notes|G00drich DR oo+ QL ool o g 3 3% purchased was $254,544,676. Bm‘flo'lor. - we 8% 28 b~ : ;l E. C. Brandenburg Elected. e Mo A Nor...- Th TH T TH 0 25 Owing to a vacancy on the board of guull.on Ofl..cc... BAVS BAY B3% 64 4% 5% managers of the Mutual Fire Insur-|5° s 0% % 1% Er b3 ance Company of the District, caused % o ¥ by the recent death of R. Harrison B O C58 A Johnson, E. C. Brandenburg was elect- W% i 34 |Bkeny oil n 3 ed to the board yesterday. u! Southern C 1 :s The board of managers now consists 3% 3% 34| geets Co. of America 2 3 H. Church, B. F. Saul. James N 11 1 gwitt International . A% 25 C. Kattelmann, Commission- | Intl Agr 7 1 1 7 |Tonopan Divide B 1716 F. Oyster, L. Pierce Boteler | int] AgriChem Pf. 3:% 57% 57% 31% | Tonopah Extension 1% and Mr. Brandenburg. Intl Harvester.... TH% T6% ™% 7k | Do e i it Leocal Market. Intl Mer Mariné pt 8% 494 <8% 0% | Ul 1 ¢ i Apart from the disposal of five |IntlMotor Truck.. 304 304 04 4 | On UL shares of Lanston Monotype stock at | Lntl Nickel. o P Stesmenip n.2 74, the entire activities of the local 0 0w 0% | Balted Retail * stock exchange were confined to bond % kM 17, o transactions today. ‘ - 0 10 B i 1K | ., Washington Railway and Electric 6% % 25% k4 - Company's general mortgage 6 per il =4d 4 e cent boMs featured the list with the i sale $15,000 at 92%, while $3,000 u 2‘2“* “lflfi ’lnfl‘ :m lx::&e: ;':l-...‘. E" a\fi worth of the same company's 4s Keystone Tire. ... o Armour pfd. 88y, 86y | changed hands at 61%. There were |Lee Tire & Rubber 7% % we| AENT b Sl {also three $1.000 Potomac Electric|Lehigh Valley 5% & B 81 Dby p ) consolidated 5 per cent bonds sold at W W6 104 10| Netioesl L $5. 9 9% 8 o%|Bwite & Co b2 ( % % Union OCarbide y Dividend Declared. o —_——— ‘The regular quarterly dividend of % giThe EroEnas auarietiatalviannd of . ws wi'mi| TQ EQUALIZE RATES. and Trust Company, payable August ::;{.‘;:%‘::‘9“ o S —_— L y 2 s i3 o ‘stockhcMders: o8 resord " Jaly I3, | Lo rvate Stded- me an UM e Shippers and Carriers Discussing _— Ming &StL (D). 1% 1la 1% L% Southeast Freight Cltarges. i 3 38% 38la| ATLANTA, July 12.—Conferences on Washington ifi‘lf" Exchange. ki k| proposed charge In freight rates fo e . Natl Biscult.....« % oints in the southeast occuple e T, Baliay senerst 682000 at| N Cic0y £ 0w ek 6% Zmnuo; of represcatatives of ahip. | Potomac_Electric cons. 000 3 n 4% 4Bk 5% pers and carriers again here siyaro Fictic) conr, S-—$1.000. at /85 | Natl Enameling. - (0, S0 Meetings which were expected to con- AFTER CALL. tinue through the week. Discussion Lanston Iolokyr—& at 74, 80 far has centered around proposals v;rmmum Rallway u—':mm at a1%, for adjustment of rates 80 that points b iaguont Batinay ‘gesrsi 8081000 at in this territory may, pay Mote BHEL 2% 1 0 at Bk 0 8 1y by mileage on freight from north- 1000 at 928! §; 000 at ern points. It is cited that Birming- 1000 at 924, 31,000 at 92X, §1,000 at ham, Atlanta, Macon, Ssvannah, Mont- 02 02%! B2 iatsCail loane 67 per cent, \ Bid and Asked Prices i BONDS PUBLIC UTILITY. Pacific Ol1 Pan-Am Pete..... 48% Pan-Am Pete (B). & Pennsylvanl L m-lugd Bteel. i People's Gas..v.oe o rquette. 20% Petroleum nedE k. 18 €. and P. Telephone 1 Capital Traction R. R. 3 8353382338 b P h L R i o FE 4 6% @ % 14 6% ] k3 »% 1% 10 [ 4% % o % % i 19% 18 o City and Suburban 5. Metropolitan R, R. 5 ™ % Potor Electric Lighi L] 56 j Eotom cirle cons. » % 1 . Fower 96 | Pressed Steel Car. 7% 71% % 77. | PullmanCo....... %% 98% - %% o iy 3 s Pnnuo.luoznslll- ;.l* :x :u fwy. and Elec. G. M. 6o, 928 g3y | Pure OMl. . MISCELLANEOUS. Ray Con Copper... 12%. 12% 12% Rigas Realt BOUS: o eee 88% 6% 8% ‘Washington 39 9 Washington 2 2 9 TR a% PUBLIC UTILITY. 12%- 1% 12% American Tel. and Telge. «er-- | Royal Duteh. .. 8% 56 56% Amer. Tel. and Telga. rt “k StL&San Fran... 2% 3% 2% 3% Capita Traction b St Louis Southwn. 3% #% 3% 366 l Norfolk_and b s 3 '8 | Wash. Rwr. and . com. 5% &4 B4 ! Wash. Rwy. and Elec. pfd.... 57% 5% @% 6% NATIONAL BANK. a% a% a% 20% 0 20 oss-Bhe s U B Southern Pac nH TR W% Southern Rallway. n 0 0 Standard Ollof Cal. 8% W% 7% % Stand Ol NJ pf... 106% 107 106% 108% Stromberg Carb... 3% 8% 2% 8% Studebaker. . 81 8% 0% 0% Submarine Boat. 12 L] % & % 4% 4% Comj W% W% WK American Becurity and Truat.... 220 Texas & Pacific. Y 2% 1% ‘ontinent s National Savings and Tru Texas &PC&Ofl. 18% 194 10% 18% Thio “Trust . 181, 20 | Tobacco eave 630 . B4% B3N . B ‘Washingtou Loan and Tru 255" 215 |Tol StL & Westn.. 10% * 0% 10% - 10% SAVINGS BANK. . 18 e W) OIL #TOCKS, % Quotations furniabed by W. B. Hibbe & On. 12 Bla. Asked. Anglc-American il Ov. (new).. Atlantic Refining Co.. Borne- Buckeye Pipe Line o. Che: Man; 1 “l'/. u‘o“ SeafsaFant 5 FOREIGN EXCHANGE. @elling checks—Dollar values at noon today: 3.641, Budapest .. * 7 Pra; P | ® & pBaeBERE ntn et ulshvaFyatinsd j!snl%ii! ) 5 gomery and other southeastern lhl:- ping centers pay the same freight rates on goods from Cincin: Changes proposed would make Bir mingham and Atlanta the “breaking points,” with cities more distant from the point where_the freight orig inated paying slightly more in pro- portion to the mileage. —— LOSS OF FOREIGN TRADE. Exports and Imports Three Billion Less Than Last Year. Foreign trads of the United States fell off more thah, three billions, of dollars for the flscal year ended June 30, according ta a summary Of trade issued today by' the Department of Commerce. The -slump was &bout evenly divided betieen exports and imports. Exports for $8,519,000,000 108,000,000 t! 1 year totdled with mfl:fil $8.- b‘(' while im- ports amounts 1o 666,000,000, as againet $5,238,000,000 the previous year. The trade Balanck in favor of the U States for the yéar was exports ~ t ed ~ $340,000,000 e Mparis wets 000,000 in Jun . Imports 204,000,000 in May and $198,000,000, cgl;ppnd with $562,000,000 in June, 1920. : Imports during the past fiscal year ‘were greater than for any year since 1917, with the tion of 1920. ——— “LONDON WOOL AUCTION. LONDON, »July . 12.—~The wool auc- tion sales reopened with an offer of 13,35¢ bales of good selection and a fair attendance, but demand was slow. June nst | Lower prices prevailed, Merinos and .| fine crossbreds’being 1 to 7% per cent lower, and scoured 1.per cent down from the last series. E B. & 0. BONDS AUTHORIZED. The Baltimore and Ohio railroad has ’lven authority to issue $1,634, refunding and general mort- gage 6 per cent bonds, series B, t0 be pledged a8 ‘sdcurity . for missory notes to meet the company's require- menta Bubsidiaries of the 'were authorised to issue various ¥ on _the order of the rallroad under mortgages. VIRGINIA HIGHWAY BONDS,; |todsy. NEW YORK., July 13.—A local firm 1s offering $300,000 of Albemarie coun- ty, Va., 6 per cent road bonds, issued to provide funds for a’'portion of the Virginia "t:to highways, and the state :f mlr.'-i: h.‘u“%mt.:: to reim- e county foi cipal mount of the issue. r!o«nf:lllfi has b et oftered at §9%, to yield about 6.1 - \ | e———— No fewer than thirty-seven nation-|" alities are represented on the staft one of thie big Ncw-!ubu:h of | 1 : THE EVENING STAR, WASHINGTON, TRADING IS NARROW OILS ARE FEATURES Short Covering in Industrials | 4mse: & cs; s Is Main Influence in Market. BY STUART P. WEST. NEW YORK, July 13.—What little interest there was In any of the mar- kets today was confined to the ef- forts of recent spaculative sellers for the decline to extricate themselves from a position which had ceased to look promising. Covering of short |S contracts in some of the industrials which have lately been under the|g: the main Influence in |Gt hammer wa: the stock market. The same closing out of “bear” op- erations was a factor in the wheat market of the day, and it also figured | (20T, in another and quite unlooked-for uarter—namely, &erman exchange. From their low of in_the market for 1.27 yesterday, marks recovered near- ly 10 points, and the only explanation apparent for this upturn was that there had been too much selling for | bocy short accounts under the impression that no rally was possible while the German banks continued to pour out new paper currency issues. Operators Intimidated. On the stock exchange buying in against short contracts carried stocks like Harvester, International Paper, Sears, Roebuck, Famous Players and American Sugar up rapldly from two to three points. The premium charged on some of these and other shares for their use by short sellers had evidently intimidated operators of this class. Mexican Petroleum points and other Mexican and South American Oils two points or so on the letter of President Harding to the jumped _four chairman of the ways and means com- mittee, asking that the proposed tax on crude oil imports be eliminated from the new tariff bill. These gains all occurred in the first hour. As soon as short covering ceased, prices fell sway again. It was another exhibi- tion of the extremely narrow and pro- fessional character of the present trading. Call Money Up. The call money renewal was marked up from 5% to 6 per cent, but it was 80 well understood that this was due to temporary causes that it had no effect upon the business of the day. ‘This is the time of the year when the government 18 getting ready to pay out large sums under the appropriation act, and, in consequence, is calling heavily upon its bank balances. ‘That there is no thought of any real hardening of the money market is shown by the easier tendency 1 commercial paper rates and by the fusal of borrowers of time money to bid more than 6 per cent for this sort of accommodation. A further indica- tion of banking judgment toward the severely into profits. There was a sudden reversal this morning when future course of money rates is the action of the bond market, and here there were no signs today of any let- up in the buying movement which began a week ago. New high prices for the year were reached, especially in ‘some of the recent issues, like those of the Hill roads. Firmness of Coppers. Firmness of the copper group has been very noticeable for the last w: or more. It is not that these stocks have been going up, but that they have ceased to come out while other parts of the market have been ’oln‘ down. The ordinary reading of this is that copper shares have been sold out. They have been gradually pass- ing into the hands of long-range buy- ers, of people who do not see any- thing immediately in store. but who believe that with supplies of the cop- per metal steadily shrinking the way they it sannot be Jong -before prices will begin to harden. This, they feel, will be the sigal for con- sumers to enter the market and for the mines to get ready to resume. The situation in American Sugar had not changed from what it was at the close last night, when it was found practically impossible to borrow the stock. ~ It was said that 5,000 shares| ¥ were still wanted at the opening, but this was not borne out by later de- velopments, Leather Stocks Strons. All of the leather stocks were strong under the lead of Endicott- Johnson. New orders of this company for the past two months have been runni 25 to 50 per cent ahead of last year in actual pairs. A large pro- portion of these orders are for imme- diate shipment. The factories are running up to capacity and the output t|!s in the neighborhood of 95.000 pairs of shoes daily. In the case of Amer- lcan Hide and Leather it was pointed out last week that this company will show in its next quartefly report, -;ue as the last week In July, that it turned the corner. -International Paper had as sharp a run-up as anything. There has been - h‘l" short interest in this stock, which based its attitude on the ides that the paper industry has not yet through its readjustment and that the labor troubles were cutting word came that the company’'s mille, at Niagara Falls and Fall FI' opened up on full time and that the men were going back to work on.a 21 per cent reduction of wages. oul Tariw, . The street has figured right along on the most energetic sort of oppo- sition to the tariff on oil imports. But it had not reckoned upon the admin- istration taking a hand, as President Hardi; did, in writing to the chair- man of the ways and means cammit- teé a er of protest. With this un- expected support the market took the view that the ofl tax was likely to fall ¢t adoption and there was a rush at the opening to-.buy the Mexican issues and the South Americans. Mexican Petroleum, Royal Dutch and ‘General Asphalt jumped. The bear campaign in Asphalt has been based upon the bellef that an American tariff on ofl would compel the Seuth American companies to cut down their development .wprk and shut off at the same time the big market for their products: The possibility of this po- sition being wrong caused a flurry among_ the Asphalt shorts. On -the other hand, the American oils were not dépressed. t —_—_— COTTON MARKETS., i NEW YORK, July 12—The cotton market was lower during today’s early trading. After the advance of nearly 2 cents a pound from the low records of last month there was naturally realizing, whilé some selling for a re- action was probably encouraged by prospects for clearing weather in the southwest. The_ general market opened steady at a decline of 2 points to an advance of 4 points, with October selling off to 13.00 shortly- after the eall, or 13 points net lower. Liverpool was bet- ter than due again this morning and reported a continued good spot busi- 3“ > ness. Futures ofqnnd steady; July, 12.50; r, 13.16; December, 13.66; Janu- March, 13.63 bid.. NEW ORLEANS, July 12.—Better Liverpool prices than due and sales of 15,000 bales on the spot there caused an advance of 2 to 10 points around the opening of the cotton market here 1 , but when October reached 12.56 heavy reslising came from the long ary, 13. side, N Futures opened quiet. July, 12.05; October, 12.76; December, 13.02; Janu- ary, 13.07; March, 13.18. D ©. TUESDAY, Y 19, ’mr TODAY’S BOND PRICES. Noon prices reported to The Star over direct | Sinclair Cons. il Corp. T%s 1925.. o1y | New York-Washington wire by Redmond & Co. | Bouthern Pacife. 1st tefdg. 4 B City of Paris 6s 1821 64, French Government Ss. 82 Government of Switserland oi Kingdom of Melgium 73s. 84 J. K. of @. B. and Ire b U. K. of 6. B."and Ireland 5! 7! U. K. of G. B. and Ireland 9% U. K. . B. and Irelasd k3 American Tel. and Tel. conv. 6s. lg'/u . Tepeks and & Attantie’ Coast Line 7 101 Alleatic Refoing Co. 814 5209 SHORT-TERM SECURITIES. Bty Sng (hlo ceav. £ 1 (Reported by Redmond & Co.) Baltymore and Obio 8. W. Div. 3%s.. 78! Bid. Offer. Bethlehem Steel refc 8114 | American Tel. and Tel. 6s 1022, 98 ~ 98% Burliagton, (X, P.< 9814 | Amer. Tel. and Tel. 6s 1021 oY 08% Canadian North 100 94 9344 Central Leather 88 100 Central Pacific 2 100k 70 1003 73% | Ausconda Copper Ga 1929. AK 8115 | Anglo American 7s 1923, wly 1 refd. 804y | Armour & Co. 7 1980. 96 8% . cony. 06 HBethlehem Bteel 7s 1 " 0 ra 7s 1980 2% | Bethlehem Bteel 7s 192 o8 8 Pacific refdg. 4s.. 64! Canadian Paciic 6s 1 "y 8 O Central Argentine 6 1 81 82y Chi., R. I. and Pacifc 6s " 8 c., & 8t. Louls 6 192v. fd KR! 1 100 53 1 7s 1923. 1013 | Kennecott Copper 7a 1980, o4 94: 90" | Liggett & Myers Tob. 8¢ 1921.. 99! 99 92 | Procter & ble 7a 1922. 9% 1001 75% er & Gamble 7s 1923 100" 1003 102 3. Reynolds Tobacco 8s 98 29 731 | Bears, Roebuck & 9% 100 9515 | Bears, Roebuck & Co. 8 98 eyivania B, 8414 | Bears, Roebuck 96 96 Pennsylvanis B. R. @igs 1986.. 975, | Binclair Cons. Ofl 7%s 1925 91 91 Penneylvania Ta ‘ot “1500.. 102 | Bouthern Railway Co. 6 98 o4 Pennsylvania gen. mortgage 414s. 76% | Bouthwestern Bell 7s 1925 95 96 4a. 7343 | Bwift & Co. 94 100 05 | switt & Co. 4 7Y 732 | Texas Co. 99 8¢, Louis and San Francisco fne. Ge. 54 | Union Tank Car. mn‘lz bt Beaboard Afr Line refdg. dr. 38% | Western Elec. 7s 1921 100 1004 Beaboard ‘Air Line adj. 5 263 | Westingd'se E1. & Mfg. 7s 1031 100% 101 TRADE IN NEW YORK TERRITORY HOLDING ITS OWN, DESPITE HEAT Retail Sales Stimulated by Bargain At- tractions—Some Plaint About Vanished Profits—Situation Elsewhere. BY JAMES ALLERTON. Special Dispatch to The Btar. NEW YORK, July 12. — Despite the heat, business is more than holding its own fn this territory. Retall buy- ers are flocking to this market and are beginning fall buying on a fair scale, although many are curtailing their orders, both because .of some uncertainty as to scale of prices and because they are uncertain of the been on strike for a forty-four-hour week, have agreed to sign a three- vear ‘contract for a forty-elght-hour week and returned to work. The unions also agreed to & wage reduc- tion of 36 a week beginning October 1. Paints. CINCINNATI July 12.—The paint- ers’ atrike, which has lasted for three months, has teen settled and the painters have rcturned to work at the old scale of 871 cents an hour. They had demanded $1 an hour. buying temper of the public. Many are willing to admit, however, that —_— their fears of curtalled buying power Dry Goods. the public have been groundiess. b{?mllll trade has been stimulated by bargain sales, but 8ol dealers com- plain that profits have been cut al most to the vmllhlnfi point. Busi- ness in buttons, novelties and notions is active, but several manufacturers of glass and pottery are curtailing production pending Teadjustment of wage scales. Bullding has checked its advance pending decision of the request of employers for a cut of $1 a day in wage scales in t building trades. The bullding tra council will con- sider this question later this week. The metal trades are stagnant, but prices for food products, meats, eggs. cheese and butter are strong. Federal Aid to Railways Expected to Help Pittsburgh BY H. B. LAUFFMAN. Special Dispateh to The Btar. PITTSBURGH, July 12.—Problems and labor in this being elim- retarding return: to ‘When the govern- ment makes {ts proposed disbursement to the rafiroads a large percentage of the amounts xpected to find its ay into the envelopes of this district through payments for railroad repairs and equipment. Return of buyers to the steel market is expected as prices become stable after the recent cuts. Mills now are operating_at about 20 per cent of In the Connellsville district a perceptiblé improvement in the coke trade. While the change is largely senti- mental, it is based on reduction in pro- ducing costs. The Frick Company is expected to cut wages shortly. Lake coal shipments are not up to expecta- tions und mining shows a disposition to lag. Bank depogits have fallen off slightly, this being considered natural as a result of loan liquidations. Many St. Paul Area Toilers Are Reported Back to Work BY L. 8. MCKENNA. Special Dispateh to The Star. 8T. PAUL, July 12.—There has been & steady decrease of unemployment in the northwest. Over two thousan raliroad employes, who have been idle for more than a month, were back at work again today. Increase of opera- tions by the raliroads followed the announcement of the government plan to aid the carriers by early pay- ment of the debts contracted during federal control. Adjustment of wages in other lines also has tended to in- creape thé number of men employed. As' a result of this renewed em- ployment, retail trade is better than anticipated. considering the extremely hot weather. Wholesalers generally report more activity, but buyers are gtill holding commitments to immedi- ate necessities. However, conditions have a more favorable tone and there appears sound ressons for the pr vailing spirit of optimism. Arrangement for the complete financing of the crop movements have been completed and John E. Mitchell, member of the federal reserve board, is authority for the statement that agricultural sections cen secure all the credit necessary to move Crops. Mr. Mitchell also stated today that the fiftty million-dollar live stock pool ‘would In to mflmlc;n !h’ll ‘week, and that many applications for loans 1d be acted on im- NEW ORLEANS, July 12.—Although the drop in the cotton market has af- fected sales fin this territory, dry goods manufacturers expect to start their salesmen out next week with fall samples. 1 The trade with Central America in dry goods has shown a marked improve- ment lately. Silk. NEW YORK., July 12.—Seasonable demand for light silk materials con- tinues good. This is attributed to the spell of warm weather. Paper. DETROIT, July 12.—The Detroit Sul- phate and Paper Company has re- duced its force of workers and has cut down operations to one-third of normal. Shoes. ST. LOUIS, July 12.—Price reductions and vigorous selling methods have stimu- lated buying from shoe wholesalers and ‘manufacturers in this section. The vol- ume of production and sales is larger than for a similar period last year. The tendency for fall demand is for plain shoes, with fancy and costly models in imaller demand. . Mles. ATLANTA, July 12.—While business in new cars continues brisk, the market for used cars is overioaded and stagnant here. The sale of auto accessories is not within 60 per cent of what it was at a similar period last year. Groceries. ST. LOUIS, July 12—The grocers of this section have reduced their operating costs about 30 per cent, and, obviously, adjustment is not yet completed in this line. For this reason conditions still are unsettled. NEW ORLEANS, July 12.—Revival of trade in groceries to the Latin American republics has been most marked in the last few weeks. Mexico has a strong factor in this demand. which has shown an improvement of from 15 to 20 per cent. Sugar. NEW YORK, July 12.—Improvement in demand for refined sugar has been noted generally throughout the country for the last few days, due mainly to ox gly warm weather. This has had a strengthening effect on prices, which have advanced. This Ilrlnfil‘ up of prices has also influenced demand for raws, Flour. KANSAS CITY, July 12.—Millers in the southwest report that jobbers and bakers are buying old wheat flour for immediate or thirty-day delivery mor: liberally than for some time past poNNP LR BRI IooRe BT 2N _SRICORLY Boader DalweiovEe S Hardware. NEW - ORLEANS, July 12.—Falling prices have stimulated the market otill are wary of buyin, - cause of fear of further rodu’ougn:e Jewelry. NEW YORK, July 12—The impor- tation' of uncut diamonds into this ', totaling $28,010, were or many months. Cut n that month to- value. Tt stones imported i taled $2,012,196 in by stockmen woul m’:flhuly. A . 'z:m'_‘ o prices; ideal Metals. hasers hat g many purel Commodity Reports ST. LOUIS, July 12.—Lead and zinc | s ure.* Avely 0 5 . has shown slightly greater strength |wi 7 From Various Sections jthis weeic with smail increases " in Steel. S PROPOES. COLUMBUS, Ohio, July 12.—Thou- Confectionery. OFFICE OF THE MAYORD GOUNCIL OF sands of tin plate workers who have| oo O S5 Fark, Mo, July B21—Besied pro , July 12.—The salé of | P00 linear of 4-footment agreed to a cut of 10 per cent in wages are expected to be back at work In the near future. “‘fi' plants laid off their men when the old wage scale expired, 12.—Thi July he coandies in this section has dro oft nearly 50 per cent recently, but the demand for fountain drinks has more than offset this 8o far as receipts by confectioners is conosrned. Meat. DETROIT, July 12.—The su 1live stock reaching local wk&:’in:f tinues very small, with best steers seven bringing about $7.235 & hundred Railways of Mexico. pounds. YOUNGSTOWN, Ohio, July 12.—The| FORT WORTH, J 12.—Hi B B, B St o bt Shranend B, of S evel rn ma Coveand atter o shui-down of two|One car load recelved hers brought months. $9.60 per 100 pounds, & record price for the year. BOSTON, "July 13.—Prices for sir- loin and rump steaks have advaneed slightly in the last few days. Lamb is scarce, with hind legs selling at 42 to 45 oents a pound, and chops: from 70 to 75 cents. Dressed hogs have ad vanoed & cent a pound. VISIBLE SUPPLY OF GRAIN. Textiles. LUDLOW, Mass., July 13.—The Lud- low Manufacturing Associates, makers of jute and twine, resumed with 8,200 workers today. The closed June 23 for inventory and re- :.lsu. No change in the wage acale was e. NEW YORK, Jul lZ.—GEB‘ lines of bathing suits for l‘fil will be offered at offices and g it i are| NEW YORK, July 12— y 12—The visib] e e i} b0 gupply of Américan grain shows the have decided to open thelr lines 8imul- | “Wheat ‘inereased 334,000 bushels. > Corn decreased 2, ,095,000 but Oats. -increased 1,321,000 bushels. Rye decreased 226,000 bushels. Barley, increased 237,000 bushels. | _ Printing 'Trades, CLEVELAND, July 12.—Pressmen, press feeders and binders, who have & te: brought | ; GRAIN AND Ns. LOCAL WHOLESALE NARKET. BALTIMORE, July 13 Gpecial).—| Eggs—Strictly fresh, .per dos., 29a30; Pout:u. rcw. ”lrl. barrel. Lufl.‘« l';:lnm 27a38. per bushel, 50al. ve " en, 1.2042.50. Beans, hel, 758 e e gl iy 1.80. Beets, per bunch. 3ab.: Spring. pet 'ih. Sias0; - hehs, per. b Cabbage, per head, 2a10. WE"" ; keats, young, each, 60a75; chick- bunch, 3a5. Celery. per doset 1.0081.50. | ens, winter, per ib., 30. 3 Corn, per doaen, 13835, Cuctnbers. per | “p = 00 PO e basket, 1.00a110. Egaplanper crate. | o Boultry—Fresh eprin: 5.00a6.60. Let(uce, per busfil, 50a100. | Soickens, per Ib., ; bens, per Ib. Onions, per 100 pounds, 1.504.50. Peas. | 30 per b., 22; turkeys, 354 per bushel, 3.2523.50. P g, cioh, G0aT5; chick- basket, 1.00a1.25. Squish, yer taie. 75as0. Pork-Dressed. small, per b, 1. e e barber. 3 00ss 60, B 9; lami e ples, per barrel, 2.! .00; pe: ; cholce, s v 1.00a2.00. Blackberries, per af o ichon; pue Ih, 20k Mva 22. Cantaloupes. per crate,-|00a3.75. Cherries, per pound, 10a3p. P ke berrion” bart! 20825, = uckleberries, per . | Califernia Y Peaches, per crate. 150225 W T e S B apples, per crate. 3.5026.5(. rles, per 2 o, Shard e Selling Prices at Newm) Wheat—No. 2 red whper spot, 1.41; No. 3 red winter, garicky, spot, 127%. July wheat, gust, no bid. Sales—Bag Iots of new whei, quality and condition, at 1., 1.05, 1.10, 1.12, 1.15 and 1.17 peryushel. Cargoes on grade—No. 2 red vinter per crats, crate, celery, 1.5¢; Bomaine lettuce, per 1.00a1.56; cym- | 135 per bumel: Au- gariicky. 1.26%: No. 3 red vinter, garlicky, 1.21%; No. 4 red Wnter ) garlicky. 1.16%; No. 5 red water, DAIRY MARKETS. garlicky, 1.12%. BALTIMORE. July 12 (Special).— Corn—Cob, new, yellow, 3.75 per Chickens—Alive, springers, pound, 32m42; white leghorns, 30a33; old hens, ::;afln old roosters. 17; ducks. 22a26; ng ducks, 28a32; 3 "'é;' P rd 8a32; pigeons gs—Loss off, native and nearby firste, 30; southern, 28, o o bbl; for white, 15 to 20 per Abl lower in carload lots; contract o spot, 73; track corn. yellow, Ne¢ or_better, domestic, 78%a79%. Sales—4.829 bus. of No. 2 white 72_per bu. Oats—No. 2 white, 48; No. 3, Rye—Bag lots of nearby rye, quality, 1.20a1.26 per bushel; N¢2 w export, spot, 137 per . No. 3, no quotatiol Straw—No. 1, weak; No. 1 straht rye, nominal; No. 1 tangled rye, 10; No. 2 tangled rye, 1.00; No. 1 wht 15.00a15.50; No. 2 wheat. 13.00a150; . 1 oat, nominal, 15.50216.50. CHICAGO, July 12.—Bullish crore- ports from the northwest brought jout the upturn in wheat prices today.Re- 47/ | Butter—creamery. fancy, pound, fie 240; prints, 40a4%; nearby creamer 2 |36a3 s, ; rolls, 23a25; dairy process butter, 25a29. PARIS BOURSE FIRM. PARIS, July 12.—Prices were quiet on the bourse today. Three per cent Fenter 56 francs 40 centimes. Exchange ot London 46 francs 78 centimes. e per cent loan, 82 francs 70 mlll‘l;‘r‘s. ladle: prints, 23a2! the | heat was said torsve [ The dollar was quoted at 12 francs 86is inflicted severe damage, in NortDa-jcentimes 2 o el R icnded sah At | $1.100 BUYS ; jury od 2 v s quotations, #hich | “yipseg prrypy sr%all?xnfi\(l:%n!: ed from 3 to 1% higher, P, | BOKDS OF WELL KNOWN NATIONAL FI- Tember 118% to 1.19 and Decemir 1.22 | RANCE INBTITETION. LADEA ONALgbl 0 1.22%4, were followed by modgte ad- | BIDN OF STATE BANKING LAWS. - poves Stiona: gaine and then sometys of & |OF PROFIT SHARING . CERTIFICATES vl i 1000, 8500, $100 ‘DENOMINATIONS. SPE. Continued lack of rain had) bullish | SRty B0, IF DESIRED 3 FOR RCULAR T-807. NATI CURITIES CORF. . ooia. 1416 H BT K 3. EQUITABLE Associati well a8 other grain. to %als up, September later hardened still more. Provisions were firmer ith grain, despite weakness in the hoparket. NEW YORK, July 1zlard firm; middle western,’ 11.90a12.0/ Other arti- cles unchanged. / Orzanizeq 1870 41st YEAR COMPLETED CHICAGO LIVE sTogMARKET. (§ o L0 e CHICAGO, July 12 hited States urpine gig buresu of markets)Cattle e- s $1,065.322.89 ceipts, 7,000 head; by Steers, she Systematic 3 Leads stock and bulls, steadto 26 lower; Saving 0: top || to Great Accomplishments —8ave as you earn, and you will begin hmn-'lma ..:m’rummh Pprepared for et emergencies that may prime yearlings and yers. heavy steers. 9.00; bj beef steers, 7.00a8.65; bulk fat c¢ 8nd heifers, 4.7526.75; canners .zcunen. 3.00a. 3.560; bologna bulls 1fely. 5.00a6.50; bulk butcher gradep.75a6.50; veal calves. 50 to 76 high bulk vealers, Subscriptions for the 10.50811.00; stockerstrong; feeders 813t Issue of Stock slow. Hogs—Receipts, m‘hu‘do: active: Beiag Recelved . 0 jower; mostly 10 lower; oth 16 to 25 lower Shares, $2.50 per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. NW. JOHN JOY EDSON, Presideat FRANK P. REESIDE, See’y. packing grades, 3.3.75; Digs. strong to 10 higher; bulk /rable, 9.75a9.80. Sheep—Receipts, .000 head: best western cull lambsd sheep, steady; others slow to 25 ¥er; fifteen dou- bles cholce rangembs, 11.50; best light natives, ewe5.00; fat heavies and medium weig! 4.00a4.25. TRADJFOTES. A hat factory ahengtu, Szechwan province, China, ¥ been successtully making imitationanama hats from the leaf of the nve palm, which is abundant in thatovince. April shipmentf raw silk from Japan to Americataled 27,622 bales, as against only enty bales to Eu- rope. Ecuador has dvn up a contract with a representve of an American company intered in the develop- ment of petroin deposits which provides for pejssion to exploit such deposits ime province of El riente. A plan to contithe copra product the Dutch Eatndies in the inter-, of Europeamarkets has been developing sincethe early part of 1919 Banana importiesterday at Balti- We have some interest- ing data on this com- pany—operating now at 9% r -ent of capacity. Wil the real leader in 1 lustrial revival? TEXA JDMPANY How will the propbsed import tax on foreign more reached €4 bunches from oils and Mexico's 0 5_‘::;0 Marsion t Gulndeaud Jo tax on crude oikt.a e:‘t e anothar from| Jemalcails this and_other oil Speky™ Auditors of marketwise? +d s thesitimore and Ohio are now figuriagn new wage scale of variou: of employes. and the cuts as fih will show in the amount of pay chg to be distribut- ed among employon July 15. The company pays off jce a month. ‘Writs and ask for GOW. DILLON &5 CO.* STOCKS—8ONDS SUMMER TTAGES. FOR LE. Cabin onptomac. AW 0 g REPORT OF THE CONDITIQN., . ares *4. Jacet, s SR L% | EXCHANGE BANK' COTTAGE. COLONIAL ACH STX ROOMS Of Washington, - . arge lot; plents | ot Washington, in the District of Doluihia. & it oo D SABSRY, | 4¢ VLN PR TR Y cgum norn-n‘ o ey al'u"" B 3 ate: - 5 “.fil‘ CHESA. M‘: l‘:’m‘ ©)..$140,573.95 ~ ; acetylen —— suitable for LAWRENCE WILLS, MOUNTAIN FPERTY. FOR A Wflx 14-room house, pletely furnished. Ideally situated in Bl Summit, Pa. Heat, 8800 €} Nov. 1" Apply BI it, Pa._13% SHORE ; FOE EENT—OOMFOETE) SEVEN-ROOM and porch furmished shomat cotta, tesian water; fine salt waSathing; aca. A M, feSeics Beach, Westmoreland co..- SOUTH RIVER PARK—IGALOW SITES in tracts, at reassle Grain, Produce and Live Stock’ ' ’