Evening Star Newspaper, July 24, 1921, Page 20

T2 y o and to a prospect would be still The market closed weak, Jower. with September, 1.22%. and December, % to % In eneral selling forced nlnx and prevented any wheat 1gan two because of the co tracks here. a_factor, of grain n Monday rom the spring crop region. f export sales totaling ) ° FINANCIAL EIH AND PROVISIONS = AS QUOTED IN CHICAGO CHICAGO. ‘July 23.—Whenat under- cent a materlal setback in price to- ing chiefly to large receipts that the burden heavier on Monday. M 3| weukness of hogs and grain. 3N 5. Corn loat % to %. and oats, provisions, timish was unchanged to 52 lower. the wheat rgarket down-grade from the begin- | g important y. even after a_new low level for B etk g been reached: Atten- tion focused almost entirely on knowl- edge that the four principal winter markets had received more thousand cars, and that there was no sign of a let-up over|177. and Sunday. On the contrary. talk of pos- &ible railroad embargoes was again gestion addi- tion the visible supply statement on was expected to be bearish, and favorable weather was reported Word ' Lard—Easy: middie west, 12.65a12. 1,500,000 the bushels faile¢ to effect any notable change in sentiment, and the close was in some cases at the bottom point for the week. Dry weather complaints made corn respond in only a limited way. to the bearish influence of wheat. Meager- ness of thrashing ylelds tended like- wise to restrict the decline in oats. Provisions ‘were deprefed by. the Wheat— Qpen. High. . Low. Clos September 23% 125" 122 December l"osg 121% 124 o September 613 61% 614 December 0% AL 60% 40% .40 A% 42% QUOTATIONS ON GRAIN. NEW YORK, July 23—Wheat—Spot easy; No. 2 red, 1.39: No. 1, Manitoba, No, 2 “mixed durum. 140 c. I £, track New York: to arrive w tack New York Corn—Spot; 3 No. 2, yellow and No. 2, white, SS‘L. and No. 2, mixed, 83 c. . f.. New York ten-day shipment. Oats—Spot. easy: No. 1, white, 52%; .76, Other articles unchanged. STEEL MARKET WEAK. Price Cutting.@eneral and Quota- tions Irregular. : NEW YORK, July 23.—The steel market has been very unsettled and weak. Demand has shown a slight improvement in some directions, but competition was 8o keen that price cutting has become_very general, ang quotations are irregular. In view of conditions it is the consensus of opgn- ion that another readjustment Vof values is probable, as prevailing official prices are not being main- tained and are largely nominal. Pig iron I8 also weak, with a further downward tendency. The demand is very spotted, and while it shows a little improvement here and there, on the whole it is poor. .Copper has been weak and lower. Electrolytic is now available at 12% cents for spot and prompt delivery and could be bought from some of the ‘smaller demlers at 12% cents dellvered for prompt shipment, cash. rge producers show no inclina- tion to force sales. Neither domestic nor foreign demand has been at- tracted by the decline, and the entire" N American consumption today is es mated at not over 40,000,000 poun per month.. Most of the demand is being supplied by second hands. Not only are stocks of refined copper now reported to be larger than at the beginning of the year, but it is un- derstood thatall of the exports made in the last six months have not gone into consumption. Tin has shown further weakness on account of declines in London and Straits, but with some enlargement of trade between dealers. Lead continues in fair demand, with prices holding steady in absence of foreign competition. Zinc remains low, the condition ap- proaching stagnation. Producers are) not free sellers, the market being made by offerings from second hands. Inquiries from the Orient have been, at a basis considerably below the market. i Antimony remains nominally un- changed, with a very small movement report. ORDNANCE UNIT AUTHORIZED Authority for the establishment of an ordnance unit of the Reserve Officers’ Tralning Corps at the University of Michigan was given yesterday by the ‘War Department. The 4-Piece Fumed Oak This Lamp extra. Kitchen Table. . . Skightly Imperfect . matTeen G Mirror and Towel Rack.. THE NATIONAL FURNITURE CO. With Every Purchase of $100 or Mare Easy Credit Terms Here’s “The National’s” Library Suite Handsome and Comfortable Fumed Oak Suite consists of large Table, Armchair, Arm Rocker and Side Rocker. One of our biggest and best bargains. STORE 8:00 AM. Silverware Two-Burner Size Queen Anne Dmmg Rooin Suite H-ndmmemdDmblyCmbudedSmhu&vdapnd Sk fromJaoobeanO-k..ltwwnmfl-mchMotmthmw =169~ 29" Ts New Process Oil Stove HOURS to 6:00 P.M. 26-piece Set of - 42-piece Set of 1 Day Saturday Wm. A.'Rogers | Your Decorated o Angunt Clmlce Ofice © Dinnerware More Room for “The National” Means Lower Prices for YOU nlargement Sale Presents a Feast of Bargains for Monday. Cash or Credit What a Bargain. Closing Out All ODD. PIECES $7.98 Easy Credit Terms This Metal Bed. Sale price, Suite ’»i‘.f.’. Bed. Sale price Monday 52875 Brass Bed; Satin Finish. price....... S ,”,’i /I Sample Dressers — 52475 Golden Oak Dresser. Sale price $59.75 Walnut-fin- lvl‘!l'edbreuer. Sale $3450 Golden Oak Sale Chiffonier. $4250 Golden 0|k Chiffonier.. Sale price.. enve Eaxy Credit Terms sisting of attractive Settee, at a remarkably low 75| Closing Out All THE NATIONAL FURNITURE CO. Below Cost Sample Beds White Enamel Poster Bed. Sale price, $398 White $15.75 $29.75 $49.75 Golden Oak Three-Piece Reed Suite An all-year-round suite, in Baronial brown finish, con- Arm Rocker, e:ndy lxke cut, and marked Easy Credit Terms' Closed Al for Payments Only. $2.98 $3.98 $5.98 $12.95 Enamel Sale $24 75 Armchair and 345 [ ”"En L\ Lincoln || Union United States . Washington Exchange |} [sharenolders ~only THE SUNDAY STAR. WASHINGTON, D. C, JULY Many New Banks BY L A. FLEMING. In August, 1907, the date being. selected at the helght of the panic of that eventful year, a “rich man's panic, and for special reasons, there were doing buginess in Washington, ten national banks, ten savings in- stitutions and five trust companies. National banks showed deposits of $32,266,109; savings, institutions, $4,737,- 643, and the trust companies, $20,715,162, a total of $57,718,914. It is a far cry back to 1907 meas- ur@l by the changes in the banking bus- iness in Washington, but the improve- ment of the last fourteen years is an evidence that the banking business has been the leader in material prosperity, rather than the follower; that it has; been sanely and safely conducted is further evidenced by the fact that in the period covered depositors have not lost a dollar. There have Reen some banking fail- ures, but they'have been of the kind that have resulted in loss to share- holders, with the money of the de- positors safe. Of the national banks then in ex- istence only the National City and the Traders’ banks have gone by the board through liquidation. Of the savings banks, the citizens' was absorbed by the District National, but another Citizens' has taken its place; the Fourteenth Street Savings and Washingtotn Exchange passed to other ownership and quit; Eldredge Jordon acquired the Merchants and Mechanics' and its several branches, and they passed on with the United 'szates Trust Company. The United States Trust Company started in the panic year, and after a very large growth in* deposits largely purchased with the Merchants and Mechanics,’ the International Banking Corporation and the Fourteenth Street Savings, was taken in part by the Munsey Trust Company, the divers branches going with the parent con- cern. In the savings banks one misses the most_promising of all the lot in Toir. the Home Savings. But it is well placed, incorporated in the American Security and Trust Company, at $400 a share for its stock, when it had over $10,000,000 deposits. The banks that were in business in 1907 and are in business in 1921 have prospered. There may be some interest in the then and now comparison of deposits, the thing that counts in money mak- ing for banks. A Comparative Table. The following_table tells a story of struggle and effort during the fo +een years and the measure of reward obtained. lllunll ‘Banks Farmers & Mechanics®. i Bank of Totals .. To take the places of the national banks that have npassed into the graveyard of all not able to follow the pace, there have been added the District National, the Federal Na- tional, the Franklin National, the D pont National and the Liberty N: tional, a quintet of banks that have added materially to the banking cap- ital and strength of the city. vashington's total deposits in na- llonll banks, June 30, $87.289.911, compares favorably with the $32.56 109 of 1907, a gain of over $52,000,000. Savings Deposits. In August, 1907, the savings banks of the District reported as follows: { Citizens® Fast Washington . Fourteenth Street Home Savings Merchants and Mechanics’ Potomac Total . It is In the savin, has been the greatest f:han(os during] |ithe period mentioned. Many have Trust passed with it. New banks have developed with great rapidity. ‘nnd some of these have gone. The ‘Washington and Southern has gone— losers. So, too. |{with_the old Washington Exchange, the Provident and a few others, but new savings banks have come to the front In a way that has forced the 24, 1921—PART 1. LOCAL BANKS AND BANKING AUGUST. 1%7-. TO JUNE 30. 1921 on nl;ol}[fivxngo;i ;t;‘fl:“l‘;;::{m‘:nfged;eor the week ended yesterday: v Gone—G@Gain in Deposits, $109.275.711. Some Comparative Figures. { manency with one bank, is more or Sfarted—So’me Few City of Paris 6 Frenoh government 8§ Government of Switzerla Kingdom of Belglum 7%s... U. K. of G. B. and Irelgnd 5%k, 1!22 B, ind Troland b8, 198, U. K. of G. B. and Ireland 5%s> U. K. ol G. B. and Ireland 5% U. K. o Amer. Tcl. and Tel. con. 6s. . Armour & Co. 4%s Provident there is the Security Sav- ings and Commercial. Profitable at What Pe i At what point in the deposits of & bank can a profit be? This is a hard question, perhaps. for a theoretical man to answer, and yet practical bank man who has evoluted through the various stages of organization to Drosperdty. declares that not lesd than $500,000 deposits is needed be- fore there will be a chance for profit. On that basis all but a very few late comers in the local savings fleld are on the runny side of the situation. It must be remembered that money costs money; interest, taxes, varied legitimate expenses and the safe plac- ing of the cash at the best rate going in order to turn the profit. Conces- sions may be made, when it pays. A man’s checking account is a hard thing to move—that is, if it is worth anything. Long-time stability, per- less of an advertisement of solvency. If the account was not worth having, or if there was anything wrong. di- rectly or indirectly, it would have been’eliminated. Many bank officlals have found their ~closest friends reluctant to move thelr checking accounts for this very reason. But all of the forty-four banking institutions of this city have been able, through the selection of direc- tors and officers, to secure ¥ goodly share of deposits during the fruitful banking years under consideration. Have Sufficient Banking Capit It would seem today as if the Dis- trict of Columbia had sufficient bank- ing capital for its needs, and yet the real estate interests continuaily com- plain of lack of mortgage money. It may- be that thelr plaint is due to the business exigencies of the last few years and the big advanced val- uation placed on their holdings and the holdings of their clientele. Some years ago Philadelphia was the chief source of big loans on Wash- ington realty, but that market is as tight as the local field. Conditions have not been favorable to long-time investments during the last few years. Hence the quandary of realtors. Certainly the commercial interests of the city are thoroughly cared for. The Years of Rapld Growth. The increases in déposits between 1907 and 1915 were marked by slow, steady accumulation, but with the war, and -then in 1917 the great financing, as this nation took its place with the allies, and the population of the capital increased by thousands and billlons of money were added to the currency in circulation, big gains developing. Thug in December, 1915, we find that the deposits of the national banks had increased to $40,601,767; the sav- ings banks to $11,912877.’ and the trust companies to $32,855,891. a to- tal of $55.370.536. In 1916, in December, a year, later, we find the nationals with deposits of $49.997.001. the savings banks with $13,927,899 and_the trust com- panies with '$35,572,437. In December. 1917, a big increase is_shown, largely in national banks, which reported deposits of $82,66: savings banks $16,706,184 and the’ trust companies $40,345,210, for a total of $139,715.022. In November, 1918, the totals were $79.451.257, $25,510,305 and $40,922,421, respeciiveiy, for & total of $145,383.< In December, 1919, the national banks showed $88.286,002 deposits, the savings banks $22,371,968 and the trust companies $59,993,333, for a total of $170,591,393. Come now 'to 'the record high de- posits of the city. shown in response to the call of the controller of the currency, February 28, 1920, when the banks had a few hundreds more than ;n D;c;r;moer. 1919, with the total of Since 'then there have been slight changes, but the predictions of to- day, with ecenomy the watchword, “are ‘for a material recession. The following gives the latest rve- durns as to deposits of the banks named: NATIONAL BANKS. America {come and some have gone. The vari- | Metropoli {ous branches of tha United States| g Second Bank of Washington Total ... ns' Commerce and Savings Bast V\'l-hlnnmw query as to the point In accumulated deposits where profit is possible. There are now the Merchants' Bank, {the Securlty Savings and Commercial, the largest savings bank in the city the new Exchange, the Hamilton, the Inew Citizens’, the Anacostia. nearly a milion deposits; Commerce | posit |Mount Vernon of relatively recent from its inception; Northwestern and Northeastern, the big Park, Seventh Street, Standard, Terminal Commerce and Savings, People’s Commercial and Savings, Union Laborers’ Savings and two more just ready to launch. These banks have $20,689,911 of de- posits. The savings banks today have $26,- 689,911, and to this must be added | Home, at the time of its sale, had double the deposits of all savings banks in 1907. The Riggs National today has on deposit two-thirds of the total de- posits of all national banks in 1907, 2na the American Becurity and Trust Company, with its $21,604,000, just passes the mark of the five trust com- panies in 1907, when they had $20,- 715,162 of deposits. At that time the deposits were: American Becurity . National Savings United States These companies now have lows: American Security National Savings Trust . The two new trust companies—the Munsey and the Continental—bring the total deposits, June 3¢, to $53, 015,040. Pertinent Comment. Whenever a bank goes out of busi- ness a new one is generally started. A ruction or an honest difference of policy between officials results” in a new bank starting. A merger of two institutions is frequently followed by the organization of another. In Washington semi-professional or- ganizers have convinced some suc- cessful business men that they were cut out for bankers—convinced them against their will. Just at present there are two sav- ings banks and two trust companies nearly ready for the launching. And there is some talk of a third. Posl. tive information is only at hand rela- tive to the International Exchange Bank md the Banking and Mortgage Trust Company, but a big sign has in- lflluted the ‘“future home of the American Commercial and Savings Bai -and the sale of over $700,000 ltflck of the proposed Bankers' Trust and. Mortgage Company is reported. i The Suceessors. - Where there was & 10th street branch of the United, States Trust Company, there is the Franklin Na- tional; where there was a 20th and the Avenue branch there the e Bank; where there was a W]lhlnglon and Southern there is a llemhnm- and where there was a with | and Savings, with over $1,000,000 de- | B! Industrial, McLachlan, the big | gecurity date of origin, but fat in deposits o the over $10,000,000 which the Home : Muns possessed when it was absorbed. The ] Exchay 5045 L34 {4 gazeEzapasnssal B R R SHZREVIREVIBIREITLERSAR EFsEzes; Washington Savings Temlnul Commerce People’s fEE PR 328, 2’ Buziae @ 3z5888 Sl o .49 .27 32 42 1 .89 388 g 222 2 National banks . Savings banks Trust companies .. Total . $168,! cIARLinE SSolial Sl dirpiue period covered in this review. 5 ‘B¢ Some Improvement. On every hand one finds the situa- tion & ittle moro cheerful. Business s admitted mistakabie signs of mape ermen ras and there, and a more cheerful feel. ing as to the future. Many big corporations have passed the crucial stage and are on the r« to recovery; others are still overh‘:x.rd- dened with inventories, but are grad- .80 20 o .80 Ehd 994,638.10 has in- ually working their goods off, ::E:r;"tl;} be in !ha‘llonlh fo:‘{ll:: s year an longer. SoPe Duhae Retallers are becomlnr wise after one, two or more tle and are waliting for the demlna—llmolt— before laying in stocks. Economies are ltfll the order of the day, and’ wise. Getting Back American Securities. Sir Edward Mackay Edgar of Sper- ling & Co., Ltd., London, hl'lllgn on the, Olmypic, stats that he has con- cluded negotiations with the Cities Service Company, by which his firm will renew its investment in that company., The deal mn‘e% is for Sperling & Co., Ltd., to purchase as much as $10,000,000" of the different issues of Cities Service Company from the treasury of the company. Discussing the deal, Sir Edward sald: “Our firm has always been large- 1y interested in the Cities Service Company, and at the .time the war started glish investors held as much ll itG.QW,OW of Citles Service securities. Of course, "these were liquidated, as were other English-held American securitie: ment during the wa: “We have now arranged to re-enter :hetc&‘lel. Bervi:l' Company to the ex- ent we will purchase up to $10,- 000,000 of its different ucantl:e , the treasury. This, I believe, is !he first re purchase of Amerlcsn securl- by our govern- Sinclair Cons. Oil Atchison, Topeka and Santa Fe ‘en 4s. Atlantic Coast Line 7s. Atlantic Refining Co. lHi! ;931‘ Baltimore and Ohio con. ¢%s". Baltimore and Ohio 6s . Baltimore and Ohio 8.W. div. 3%s. Bethlehem Steel ref. 5s. Burlington (N. P.-G. N. joint) 6%s. Canadjan Northwestern 7s, 1940. Central Leather 58. . Central Pacific 4s, 9. Chesapeake and Ohio co! Y Chesapeake and Ohio gen. 4% Chesapeake and Ohio con. 58 Chi. Mil and Et P. rel 4%8 Ch Chicago Union Station 6%s. Consolidated Gas 7s. Delaware and Hudson 78, 1930 Erie general lien 4s. General Electric 68 Goodyear Tire and Rubber 8s, 1941 Grand Trunk 7s rct. Great Northern 7s, 1936. Tllinois Central 5%s.em. . International Mercantile Marine 6s. Inter. Rapid Transit 1st and ref. 5s. Loulsville and Nashville 7s, 1930, Missouri, Kansas and Texas 1st 4 Missousi Pacific gen. 5. New York Central T 1930. New York Central deb. 6s. New York Telephone 6s. Norfolk and Western con. 4 Norfolk and Western con. 6s. Northern Pacific 4s. B Packard Mofor Car Pennsylvania 58, 19 Pennsylvania 63%s, 19 Pennsylvania 7s of 193 Pennsylvania gen. mort. Reading gen. 4. St. L. and 8. F. prior lien S0 L Sna 5 F"aay es, 1029 8t L. and 8. F. inc. 6s. Seaboard Air Line ref. 4s Seaboard Air Line adj. 58 TY%s, 1925.. Southern Pacific 1st ref. 4s. Southern Pacific con. 4s. Southern Rafilway gen. 4s Southern Railway 5s. Union Pacific 1st 4s Union Pacific con 4s Union Pacific 6s 1925, U. 8. Rubber 5s. .. U. §. Rubber Tis U. S. Steel S. F. 55 Vacuum Oll Gorporation 7s, 1936 Virginia-Carolina Chemical 7% Wilson & Co. 1st 6s 7 FINANCIAL. THE WEEK'S BOND MARKET. fluctuations of active bonds listed . Previous week's close. High. Low. Close. 99% 100 993 99% 993y 99! 984 995 105% 106% 104% 105 100% 101 100% 100% 100 100 9% 99% 983 9 - 98 981 89 89 88% 8% 853% 863% 85% 861y 7% 994, 7% 994 8 79 8 9 6% 7 5% 7 102y 102% 102% 102% 100% 101 100% 101 681 69% 68% 693 RANGE OF MARKET AVERAGES. The following chart shows graphically the action of forty repre- «entative stocks dealt in on the New York Stock Exchange. covered is the past month, up to and including the close of the marke! Friday, July 22. The lower section activity of the market. —— JUNE———— 222524 2527 28 29 ) = S r——SCALE FOR INDUSTRIALS —— The period of the chart indicates the relative JULY- 112 13 M = 3 ————SUVY Y04 IIVI§ —r’ MILLION SHARES (Copyright, 1921, by W. F. Meyer.) High 1920 .88, January 3 85.37, November 3 Lew 1920 66.75, December 21 «+. 67.83, February 11 e .. ... Industrials Ratls ...y 22, Wednesday . 28 June 23, Thursday .36 86.20 €8.35 $7.08 o, . 845 6835 1.71 69.86 .72 8844 . Low. Liberty 3%s . .fi’fw 89.30 Liberty 1st 4s ... 9348 83.00 Liberty 2d 4s . . 9290 8140 - Liberty 1st 4%4s . 94.00 84.00 Liberty 2d 4%s «...... 9284 8110 Liberty 3d 454s.. reres 9500 8550 Liberty 4th 4%4s . . 93.00 8200 tory 3%s . -~ 9940 9460 Victory 434$ .....me... 940 9470 tlel for English investment since the "Re garding the American ofl situa- tion, I believe that there will be a shortage of petroleum here next year. I haven't ged my opinion, ex- pressed a year or two ago, that America would be a big importer of oil, gay, in the next ten yearsand much of its oil would be bought from Great Britain. I base this belief on the fact that by that time America will be such a huge consufher of oil prod- ucts that its domestic supply will prove inadequate. My assertion that Great Britain would supply a large part of this deficiency is based on the fect that English companies are very ltrnn‘l&l intrenched tthtroughout the world the matter of potential oil resources, which will be opened up as demand ex| Following the example of several other banking Institutions in the city, the Citizens’ Savings Bank has installed a large electrical sign in front of its building on New \‘oflt avenue. The sign_is of such size that\ It is casily resdable from the Treasury Department on one side and the new Masonic Temple, at 13th street and New York avenue, cn the other. While New York avenue is quite a business center during the day, at night it takes on a gloomy aspect, and it is to brighten up the street that many business concerns in the vicinity of the Citizens' bank have decided to install similar signs. COPPER PRICE CHANGES. been more active and weaker during the week under offerings of _dis- tressed metal at prices ranging as low as 123 cents for prompt deliv- ery, electrolytic by -second hands, while larger producers and copper available at 12 cents for. July- it very, yond ae unwilling” to quote. Ibon was weak and lowe! b Twenty Raliroad Common Stecks Used Are: NEW YORK. July 23.—Copper hll‘whu( 12.00; ‘which they | declared SIUVHS NONUN High 1921 to Date Industrials. . 80.03, May § . . 7158, January Lew 1921 te Date . 64.90, June 20 . 65.52, June 20 Twenty Industrial Common Stocks Used Are: Am Can Am Sugar Central Leather Rep Iron & Steel U 8 Steel Am Car&Fdy Am Tel & Tel Corn Products Studebaker Ttah r Am Locomot! Anaconda Gen Electric Texas Compeny ~ Westinghouse Am Bmelting Baldwin Loco Goodrich U S Rubber ‘Western Union Atchison CM&StPaul K OSouthern Northern Pacific Reading Baitimore & Ohio Del & Hudson Lehigh Valley New Haven Southets Paciic Canadian Pacific Erle Louis & Nash Norfolk & Western Soutbern Rwy Ches & Ohio Illinols Central N X Central Pennsyivania Unidn Pacific Daily Movement of Averages: 5 £22829328828 BERRERRERIRY Juy 22, LIBERTY BONDS AT A GLANCE. fllgh. Low. !nlnruy. Tield. 6—]5—47 9350 8600 8706 433 6-15-47 8850 8524 20 487 11-15-42 8810 8534 8722 498 6-15-47 8870 8540 852 512 11-15-42 8840 8530 8736 524 9-15-28 9200 8800 9150 %71 10-15-38 8860 8574 854 537 5-20-23 98.50 9580 *9842 4.65 9880 9586 GRAIN AND PROVISIONS. BALTTMORE, July 23.—Wheat—) 1 red winter, spot, — per bushel; No. 2 red winter, spot, 1]7“ l\n 2 red winter, garlicky, spot, 1 1.273% bld per bunhel 27% sales; Beptember, no Sales—Bag lots of new wheat, as to quality and condition, at 95, 1. 1.10, 1.13 and 1.18 per bushel. of No. 2 red winter spot at 1.4 bushels of July No. 3 red winter gar- lioky at 133; 15,000 bushels of August wheat at ,000 bushels of August wheat at l. 000 _bushels of August wheat 28%; 5,000 bushels of August wheat n 1.29; 10,000 busheis of August wheat at 1.32; 5,000 bushels of September ‘wheat at 1.33. Cargoes on grade; No. 2-red winter, garlicky, 1.28; No. '8 red winter, garlicky, 1.2 No. 4 red winter, garlicky, 116; No. red winter, garlicky, 1.10. Corn—Cob, new, yellow, 3.85a3. barrel; for white, 15 to 20 per h-.rrel lower 'in carload lots; contract corn. spot, 73%; track corn, yellow, No. or better, domestic, 82. A reduction of 25 per bbl. on al city mills grades of flour was an- nounced today. Oats—No. 2 whne. 51; No%3, 50. Rye—Bag lots of nearby rye, as quality, 1.0081.25 per bu.: N ern export spot, 1.29 per bu. auotation. y—Prlcel nominal. No. 1 straight rye, nomina Noo 3 straight rye nominal; No. tangled rye, 15.50; No. 2 tangled ryc 16.00: No. 1 wheat, 1450815 00; No. No. 1 oat, 13.0 oat, no quotation. WOULD BAN PASSPORTS. SALZBURG, Austria, July 23.—Herr the Austrian chancellor and todiy .be able i0 abolish pusporu between Austria rad Germany. A