Evening Star Newspaper, August 16, 1921, Page 20

SUGAR MARKET QUIET. NEW YORK. August 16.—The raw sugar market was quiet early today. Prices were unchanged at 4.75 for Porto Ricos, at 3% cost and freigkt, equal to 4.86 for centrifugal. Raw sugar futures were quiet and & shade lower under continued liquida tion prompted by the easiness of the spot market. The market for refined was un- changed at 6.00 to 6.15 for fine gran- ulated and with the demand light. There was a little more activity in refined futures, and prices were gen- erally 5 to 10 noints lower under scat- tered liquidation. owing to the unset- tled feeling in the spot market. _— In Missouri are more than 8.000 women who own and operate farms. i € Qwn your own matal fSireproot garageand Pay for it like rent. Why own a car and walk haif way home? | 4 | | | : | WASHINGTON BALTIMORE Relieve while Cubas were held | $15.00 DOWN—$15.00 A MONTH ONLY 12 MONTHLY PAYMENTS PAYS FOR THIS GARAQE PHONE MAIN 5672 ' IRON CLAD GARAGE €O, Inc.. For Hay Fever Keep aTube Handy Thos.Leeming & Co.,N.Y. MARYLAND CROP AVERAGE. BALTIMORE, August 16.—Reports for Maryland and adjacent states on crop conditions, issued by the American Steel and Wire Company, indicate that those of this state are about average, Dela- ware not quite up to average, Virginia average, and West Virginia only fair. Maryland corn and late potatoes run from good to extra good, but early { crops are not_quite up to the average. ) The wheat crop in this state and in the Virginias was_poor, and garden truck in all states of this section is only fair. S s BAR SILVER QUOTATIONS. NEW YORK, August 16.—Bar silver: Domestic, 99%; forelgn, 61 Mexican dollars, 47. LONDON, August 16.—Bar silver, 38 pence per ounce; mone: count rates, short bills, three-month bills, 4% per cent. WASHINGTON OFFICE 020 15th S MW, New Daviduon Bldz, Gor. (¥R R K3t PHILADELPHIA duCt s Pain ORI His tests were few Meat taken for granted. ness. Methods are o 19 THE EVENING STAR,. WASHINGTON, D. C., TUESDA OREIGN POWERS TEXTILE SITUATI BUILDING SHOWS DISTINCT GAIN| %R T ON IMPROVES; ASKFORDETAILS ait :n New York Avea Tncrease Their Two Governments Seek to Know More About Exchange Rate Conference. Details of a possible international conference here to discuss measures for the stabilization of exchange rates have been asked for by two foreign powers, according to Secre- tary of the Treasury Mellon. any such conference. Controller of the Currency Cris- singer, however, declared that his original suggestion of the advisabil- ity of such a meeting still stood, al-{ 615 7 Yo TR0 anufacturer b though no details had been con- sidered. ' No plans have been drawn, he said, although the idea has been presented in correspondence to fiscal officers of other countries and has taken tentative shape at the Capitol. Bill Is Drafted. | Chairman McFadden_of the House banking committee, Mr. Crissinger continued, had sent him for consider- ation and suggestion the draft of a proposed bill to permit the holding of an exchange conference. This would request the President to invite three representatives each from Eng- d, Italy and France to. meet in Washington to discuss stabilization of foreign exchange, and would ap- propriate $100,000 to meet the neces- expens he has not given the pro- measure careful study, Mr. Crissinger declared that he was in- clined to believe that if such a plan was deemed advisable the bill should include represent ropean na- the South be broadened to tives of other leading tions, as well as from American republics. VISIBLE SUPPLY OF GRA NEW YORK, August 16.—The visible supply of American grain is as follows: Wheat, 39,514,000 bushels; increase, 4,- 697,000 bushels. Corn, 12,529,000 bushels increase, 1,140,000 bushels. = Oats,, 4 641,000 bushels: Increase, 5.942,000 bush- els. Rye, 2,823,000 bushel: increase, 644,000 bushels. Barley, 2,053,000 bush- els; increase, 135,000 bushels. e PARIS BOURSE QUIET. PARIS, August 16.—Trading was very quiet on the bourse today. Three per cent rentes, 56 francs, 50 centimes. Ex- change on London, 47 francs, 16 cen- Five per cent loan, 81 francs, 45 The dollar was quoted at 12 S centimes. francs, FORMER GOVERNOR WEDS. INDIANAPOLIS, August 16.—Wood- bridge N. Ferris of Big Rapids, Mich., governor of Michigan from 1913 to 1916, and Miss Mary Ethel McCloud of Indianapolis were married here Sunday. The ceremony was private, Dr. George R. Grose, president of De- pauw University. officiated. Mrs. Fer- ris was formerly musical director in the Indiana county school institutes. and inconclusive. In Earlier Days. In former times, when the town butcher or farmer himself dressed and cured the meat for the community, he could not always tell how it would turn out. His methods were crude; partly traditional, partly guesswork. packing of today, as carried en by Swift & Company, has changed all that. It is scientific. Nothing is left to chance; nothing The most painstaking care and attention are given to every step. Processes are worked out on a large scale with minute exact- insisted upon. Drastic, incessant inspections are the order of the day. Cleanliness is Swift products are uniform, graded according to quality. Take bacon, for instance. Swift & Company set out years ago to make a-delicious, savory bacon which should be uniformly excellent. The result is Swift’s Premium Bacon, always the same, U.S A. ‘Washington Local Branch, 1101-03-05 First St, N. E. D. T. Dutrow, Manager glways famously good. Today this bacon, wrapped, sealed and branded, has circled the world. Swift & Company’s system of distribution carries it to places which the “town butcher” or the farmer could not reach. Swift & Company, *Phe Braad SWIFTS PREMIUM [} He said)one of the large producers followed that the powers had been informed|heavy business placed at a low basis, that the Treasury was not proposing|and this has had a broad and bullish Orders for Equip ment and Repair Work—Elsewhere. BY JAMES ALLERTON. Special Dispateh to The Star. NEW YORK, August 16.—The situa- tion in the textile industries in this section has improved materially. The withdrawal from sale of denims by influence in the rgem-ml cotton goods market. A cut o 35 cents a dozen in the_ wholesale price of collars by a leading manufacturer at Troy, an nounced today, is expected by reta ers to stimulate sales materially. An- reduced prices on laundered collars $1.45 a dozen, wholesale. In the heavy weight woolen goods some reorders are coming in, which mills can only accept at the expense of spring bus ness. Demand for steel in this secti i slowly but steadily increasing. on hand are being worked off, and any additional buying movement is ex- pected to stiffen the market. The ad- vance of Buffalo price for pig iron has created @ better feeling in the market that commodity. Export ship- ts of copper so far this month have been fairly heavy. Consumption of gasoline in this section continues to Increase with no change in pric There has been a distinct gain building .operations in this city, pecially in the boroughs of Brookl and the Bronx, and building material prices are firm. Railroads have added materially to their orders for equip- ment and repair work. Output and Employment Expanding at Pittsburgh BY H. B. LAUFMAN. Specinl Dispateh to The Star. PITTSBURGH, August 16.—While there is no apparent inclination among buyers to accumulate stocks, immediate demands are placing con- iderable business in the hands of the steel plants of this district. August so far is making a much better rec- ord in the industrial plants here than July. With the enlargement in steel plant production. other industries are resuming activity and employing more men. The mercantile business also has been favorably affected. Inquiries in the hands of manufacturers indicate steady expansion of output and em- ployment. A building campaign of enormous proportions is under con- sideration in this territory, and bids are being taken on several large vrojects which include an addition for a large local department store which will double the present floor space. In the Pittsburgh district the steel output has increased this week, and similar _conditions prevail in the Johnstown. Wheeling and Mahoning valley sections. Additional mills and furnaces were placed in operation this week. The agreement between steel manufacturers and the railroads for a 25 ner cent reduction in freight rates on exvort iron and steel from the Mahoning valley points will aid in es | in meeting English and Belgian com- petition. Upward Trend Hindered by Low Prices for Grainj BY L. S. McKENNA. Special Dispatch to The Star. ST. PAUL, August 16.—While busi- ness _conditio in the northwest are steady, low prices obtaining for grain and live stock are slowing up liquida- tion of those assets, and little hope is expressed here for decided improve- ment in the general situation before spring, unless grain prices advance, The new spring wheat is arriving here and at Minneapolis, and is of much better grade than the 1920 crop, but the yields have been smaller than h: been expected. Other small grains and corn are In excellent condition. The corn yield is expected to be ex- ceptionally high. Vegetable prices, usually at the low point at this time of vear, are higher than at any time this summer. In the last three weeks tomatoes have risen from 90 cents a bushel to §3 in the local market. The poor fruit crops have resulted in brisk demand for the canned varieties, with prices firm and | showing a tendency to go higher. Hog and cattle prices are irregular. Hogs are selling at a spread betweel $8 and $10.50 a hundred pounds. Heavy steers sold today for $9. a new high price for the summer. Stockers and feeders are selling from $4 to $6.50, giving feeders a margin of $3 com- pared with today's prices for steers. Commodity Reports From Various Sections Steel. CHICAGO, August 16 (Special). The lilinois Central railroad is mak- ing estimates for the cost of repair: in its own shops of 100 locomotives. The work is expected to average in the neighborhood of $4,000 a loco- motive. SHARON, Pa.. August 16 (Special). —The National Malleable Casting Company's plant this week advanced its working schedule from three days a week to five. The nimber of men employed, however, was not in- creased. YOUNGSTOWN, Ohio, August 16 (Special).—Mahoning Valley blast fur- naces in general are well supplied with various grades of ore. One plant announces that sufficient ore is on hand to run its three stacks well on toward next-June. | PITTSBURGH, August 16 (Special).l —Twelve of the twenty-three hot mills of the Loughlin plant of the American_Sheet and Tin Plate Com- pany at Martins Ferry now are in operation and two milis of the com- pany at Aetnaville also have resumed production after long idleness. HARTFORD, August 16 (Special.)— The car repair shops of the New York, New Haven and Hartford railroad here resumed operations this week, employing a full force of 400 men at 72 cents an_hour. This is about $4 a week less than the men formerly re- ceived. PITTSBURGH, August 16 (Special). —There has been a better demand for light rails in the last few days. This demand has not been large and prices have not increased. The New York Central railroad has placed an order for 22,000 kegs of spikes. Inquiries for wire nails are picking up on a reduction in price to $3 a keg. PHILADELPHIA, August 16 (Spe- cial).—The new orders for forty-five broad gauge type locomotives and twenty narrow guage engines for the Mexican government lines brought back with him by President Samuel ‘| M. Vauclain of the Baldwin Locomo- tive Works, on his return from Mexico, are expected to result jn im- mediate increase of activity at the Baldwin plant, which now is operating at about 30 per cent of capacity. NEW YORK, August 16 (Special).— The demand for pig iron in this dis- trict is more than holding its own. Sales here in the last week have ag- ,renud 5,000 tons and negotiations l:r an additional 3,000 tons are pend- r3 Metals, SALT LAKE CITY, August 16 (Spe- cial).—An official of the Utah Copper Company today declared that copper consumption was exceeding produc- tion, and that as soon as foreign de- mand made its appearance the con- dition of the copper industry would improve. cllfi’ Frait. FRANCISCO, - Both growers R R i uncertain as to prices on grapes, and few sales are reported, although in- quiries have been good. The nominal prices In the wine grape section are around $80 a ton. HARTFORD, Conn., August 16 (Spe- cial).—The apple crop in the Connec- ticut’ valley will be poor this year, and the yield will be below normal throughout New England. The peach crop is in good condition. Furn. ST. LOL August 16 Hudson Bay sables now are selling at from 0 to $325, as compared with prices of $115 to $500 a year ago. NEW YORK, August 16 (Special).— The dealers in raw pelts are greatly ncouraged over the showing of the retail August fur sales. The sales of ments of the medium and lower priced varietjes have been good, and have stimulated the trading in lower priced stapies. (Speci Rubber. LONDC August 16 (Special) — There is strong support here in the rubber trade for further restriction of production. The gradual general revival of trade especially in Amer- h_‘:x is regard «d as the most hopeful sign in the rubber trade at present. Wool. BOSTON, August 16 (Special)—The wool demand here is mostly for fine and half-local grades, but the lower are moving more freely. has been great activity in South an scoured capes, which are fully a pound higher than a week One firm in this market sold a n pounds of wool of various des 1ast week, one lot being of 000 pounds. ago. mill g 600, Cotton. FORT WORTH, August 16 (Special) —The dry spell in Texas is now in its sixth week and in many counties the cotton production will be reduced one- half. The average dry weather loss throughout the state will be 25 per cent. NEW YORK, August 16 (Special).— The demand for colored cottons from Latin America has been marked this week. The West Indies and some South American countries have been active buyers. Dry Goods. CHICAGO. August 16 Buyers of dry good are in the mar- ket here in much larger numbers than last year and sales are about 33 per cent of the corresponding period of 1920. The market for cotton and woolen goods is firmer. (Special).— Clothing. NEW YORK. August 16 (Special).— Women's garment manufacturers are confidently expecting the return of retail merchants to this market dur- ini August and September. Condi- tions, they say, indicate that the re- tailers have bought only a portion of their requirements, having held off because cash was not so rapldly available as in former seasons. The opening showings of goods for men's wear for next spring, in progress this week, have produced satisfactory orders from manufacturers. The showings included lines of woolens, ‘vorsteds, tropicals and serges. The finer grades of worsteds will be shown before the end of the month. Phonographs. TRENTON, N. J., August 16 (Spe- cial).—The Remington Phonograph Company of Jersey City and Brook- Iyn has purchased a twenty-acre tract near here and is preparing to build a plant which will employ 500 men. Jewelry. NEW YORK, August 16 (Special).— Business depression has little effect on the demand: for artificial pearls, according to jewalers and manufac- urers. Salesmen now om the road are taking tisfactory orders for these goods. Live Stock. FORT WORTH, August 16 (Special). —The last ten days has been marked by price losses in cattle and calves and by liberal live stock receipts at this market. The packers, how- ver, have increased their killing rangs and are buying everything of- fered. This has at least provided an outlet for cattle men compelled to sell. The buying by packers has been more general than at any time for a year. NOTES. FORT WORTH, Tex., August 18 (Special).—Retail food prices in many Texas towns have shown a decided reduction this we This is_espe- cially marked in’' coast and inland Isummer resorts, where an unusually dull season is complained of. KEENE, N. H, August 16 (Special). —The Cheshire county farm bureau, following the example of the Michi- gan farmers, has leased a part of the valley woolen mill at Gilsum of the Ashuelot Woolen Company and is turning the pooled wool of the Che- shire county farmers into cloth. This cloth will be marketed by the bu- reau, and the farmers, it is stated, will receive a far higher price for their wool than if it were sold in the raw state. Kight thousand pounds of woel now is in process of manufao ture. NEW YORK, August 16 (Special).— A score or more of resident buyers in New York, representing large firms all over the country, left for Baltimore today to attend the fash- ion show in that city. The show, it is stated, has attracted buyers from all sections of the country, includ- ing representatives from the Pacific coast, the southwest and the middle west. NEW YORK, August 16 (Special).— The move of the Erie railroad in leasing its repair shops at Marion, Ohio, and Hornell, N. Y., to private corporations which will take over the railroad work at these points is being closely watched both by rail- road executives and labor leaders, to determine whether it will have the effect of removing the work from jurisdiction of the Railway Labor Board and barring members of the shop crafts from benefits of the Esch- Cummins act. Other roads, it is un- derstood, have similag plans under consideration. RUSINIA TO URGE CLAIMS. Former Governor Coming to Wash- ington in Czechoslovakia Case. NEW YORK, August 16.—An at- tempt to interest American govern- ment officials in Rusinia's claims against Czechoslovakia for alleged in- terference with its internal affairs will be made by Gregory Zatkovich, former Governor of Rusinia, he an- nounces. Mr. Zatkovich, who arrived from Eu- rope yesterday, plans to leave today for Washington. Until he became head of Rusinia, which he described as a lel(»govefl,flns state voluntarily fed- erated with Cszechoslovakia, he prac- ticed law in Pittsburgh, his native city. He said he has never given up Ris American citizenship. —_—— 'WILL TEST CITY DRY LAW. TAMPA, Fla., August 16.—A sult of far-reaching possibilities was filed today In the circuit court by Mamie Wright against municipal judge C. Edmund Worth, which is designed ‘to test a recently enacted city ordinance ‘which prohibits the sale or possession ot liquor within the city limits. q AUGUST 16, 1921. e NOT AT ALL PESSIMISTIC RADE CONDITIONS Head of Southern Retail Merchants Blames Reserve Banks for Depression. RICHMONDP, Va., August 16.—“I am not at all pessimistic over business conditions ir this country,” said Mur- ray S. McKinnon, president of the Southern Retail Merchants' Associa- tions, who arrived in Richmond to at- tend the annual convention of that organization which opens today. “Conditions are not as good as th should be, but they have been worse and 1 believe that time is all that is ineeded to work things out all right,” he continued. Mr. McKinnon was bitter against the federal reserve bank, the deflation policy of which he blamed for most of the depression in the country. Mr. McKinnon stated that the pro- gram for the convention, which in- cludes addresses by E. B. Moon of Chicago and Dr. D. W. Daniel, presi dent of Clemson College, South Caro- lina, is one of the best ever arranged. Sxtensive preparations for the en tertainment of the visitors have been made. Automobile trips to points of interest in and about the city, lunch- eons for the women who accompany the merchants and a final roof garden party on Thursday night are among the features. RAINS AID TOBACCO CROP. LANCASTER, August 16—Rains in Lancaster county since the breaking of the long drought have been of inestimable benefit to growing tobac- co. Packers who have been riding the country are very optimistic. While the harvest will be a late one, well into September, the outlook is favor- able for a good crop. TRADE NOTES. Daily average production of oil in the gulf coast feld last week was 101,- 660 barrels, a gain of 1,638 over the pre- vious week. / Surface indications are that another cut in tire prices may be expected. If a break comes it is most likely to be from some of the smaller companies. Lamport & Holt liner Vauban has ar- rived with a shipment of gold from Uruguay unusual in amount and ch: acter. It is valued at more than $1,000,000. - Employment will be given $00 per- sons at Martins Ferry, Ohio, when the Loughlin plant of the American Sheet and Tin Plate Company resumes opera- tions after three months’ shutdown. A petition is being circulated in the New York Stock Exchange asking that the governors appoint a committee of three to name borrowing rates in the stock !loan crowd at the cloge of trading each ay. Financial agencies of Germany in New York will deposit with the agents of the British treasury in New York approxi- mately $5,000,000 during this week. F. W. Woolworth Company reported sales for July of $10,744,252, compared with $11,298,443 in July, 1920, and for the seven months $72,979.147, against $71,- 684,104 for the corresponding period of the preceding year. - S. H. Kress & Co. reported sales for July of $2,076,926, compared with $2,084,- 524 in July, 1920, and for the seven months $14,698,983, against $14,909,721 for the cceTesponding period of the pre- ceding vear. (AAAANNAY W -\ { BY L A. FL AN HEAVY PAYHENTS TOTHE TREASURY $157,000,000 Certificate Credits Called In—$45,- 000,000 Due Thursday. ING. National banks holding credits to the account of the Treasury are pay- ing in some $157,000,000 today, being 20 per cent from proceeds of the sale of certificates of August 1, and the balance from June 15 certificate sale. At the same time they have just re- ceived a second call on the August credits, this time being 15 per cent of the remainder, or about $45.000.000, this sum being payable on Thursday of this week. That th, heavy withdrawals, coming so rapidly one after the other, should_not have any material effect one way or the other on the money market is an evidence of the abun- e dance of the supply and continued restricted part plaved by money in the midsummer business dullness which still lingers, despite the near approach of the fall months. ! Moreover, rediscounts with federal reserve banks are being liquidated quite freely, and bankers very gen- are predicting further reduc- tions in discount rates as a proba- bility of the near future. Last week the discounts of the New York Reserve Bank were T duced Ly $36,000,000. War paper, which r ago backed $554,000,- 000 of discounts, is back of but §1 000.000 at this time. This resents to an assuring d. gree the work of liguidation, which is going on in lessencd degree the country over. The Richmond regional bank of the = reserve system has not, as yet, re- ced its rate from the prevailing & but locxl bankers are con- ent that the announcement will be de in the near futur Xew York bankers express their idence in a further reduction of the discount rate of their institut . confidently looking for a 5 per cent rate, which action will probably be followed by the big reserve banks of the east. It is reported that the governors of the Bank of England contemplate a reduction in its rate of discount. Moreover, the reserves of the re- gional banks are at the high point in years, and this might suggest the {lowering of rates as an incentive to increased business. Arlington Fire Liquidation. It is stated that the Arlington Fire Insurance will complete liquidation, as authorized by the shareholders. with- in the current vear, and that the pro rata share of assets for the stockhold- ers will be about $10—the par value of the stock. This would justify the action of the directors in turning down an offer of $8 a share. Personal Mention. William B. Hibbs left yesterday for Maine, where he will spend the next few weeks. C. B. Lyddane, cashier of the Fed. eral National Bank, is motoring through New York state. P. A. Drury, president of the Mer- D \\\“‘\\\\\\\\\\\\\\\\\\\\\\\\\‘ 0 N \,\\\\5\\\\\\\\\\\\\\\\\\\\\\\‘ //l(i /Ifi,/nl / ,"mI/// 0) M ) "11,17/:" I ! HE cool refreshing flavor of ADAMS Peppermint CHICLETS — the original candy-coated chewing gum— is now rivalled only by its twin, ADAMS Tutti-Frutti CHICLETS. \ e Imll’”,”,,,fi Francis M. Savage Springs, Va, Local Secarities, The sales made on today" |of the local stock exchange dicated a little easing of _prices. | some fractional declines and’ some more severe. Washington Gas 7% per cent notes dropped to 1.02. a fractional reces- sion from the last sale. Anacostia and Potomac River 58 were off 13 point and City and Suburban 55 a full point from last previous sale. Washington Gas o at 76% were a fraction firmer. The only transactions in stock. a few odd shares of Capital Traction chants’ Bank, will return to the cit; this week. is at Wan Company, were made at 861, indi- cating a little better tone. New Lows on Graph: .. Columbia Graphophone Company shares, both common and preferred. | made new low prices on the New York Stock Exchange today. when the former dropped to 3% and the preferred to 15. It is hardly the time of the year lto sell to take losses, and the drop i probably represented the liquidation of tired holders. The drop of 80 points on the pre- | ferrea stock from its issue price, at | time when it was the senior issuc. to 15, with notes for millions ahead of it, would seem to require some ex- planation. —_— OIL STOCKS. Quotations furnished by W. B. Hibbs & Co Bl Asked 15 15% T30t 3w 54 e Anglo-American 0il (new) I Rorne-Serymser. Erckese Pipe Line Co.. ufacturing Co. Cheseborough Continental Oil.. rescent Pipe Line Co mberland Pipe ka Pipe Line. fonal Tra ew York Transpor Northern Pipe 1 Olio 0L Mexican Fuel. irie 011 and Gas...... irie Pipe Line. Solsr Refining Co. outhern Pipe Line. th outhwest Penn rd Oil Standard Ol Standard Ol Standard Oil Etandard j01 of ) Standard Ol of Ohio. Swan & Finch ¢ Tnion Tank Li Yacuum Oil € Washington Oil. S _— BONDS. FOR Quotations furnished by W. B. Hibbs & Co 1k 14 113, German gov. 4s.. K 4 5 Bad. Aniline 31z% Al EL Ges. dizs Mein'ger Bank 45 rd. L. Bank 4x Dresden 434 Duesseldorf 4 Vienna French L French S Freneh Prem. . 781 Hamburg 4x 1%, British vie. 4s.. 288 Hamburg 415... 131, Nat. war loan Teipzig 41y 33n War lon Teipaig 5. Italian Munich 45 tlalian German g0 Twelgian Res FOREIGN EXCHANGE. Selling checks—Daliar values at noon toda: London . Parix Brussel 60 Berlin 10 C Rome 433 Christiania Madri 1293 Stockholm Zurich 1691 Amsterdam Athens 5.63 Relgrade . Vienna 128, Montreal s A N ,,n. flig ; i”’f{’vrd"" o Identical in quality, goodness and purity, the flavor is new—ADAMS TUTTI-FRUTTI— so like the juices of ripe, tender fruits, sealed within a delicious coating of pure sugar candy. Buy a package today. Dainty and delightful. And healthful too. ' ‘an Adams p 10 for 5¢ duct ~particularly prepared