Evening Star Newspaper, August 20, 1921, Page 12

INCREASES LIMIT OF NOTE ISSUES Treasury May lssue $7,600 + 000,000 if Tax Bill Passes. i Calls for $12,000,000. ' BY L A FhEMING, Littte_ by little various features of the neWw revenus measure of 1921 are| . being uncovered, the latest being an authorisation té the Secretary of the Treasury to issue not more than|An $7.500,000,000 of short-term notes, ‘with maturities from one to five years, nothing under and none for & longer period. This authority is found in section 2009. This provides an amendment to section 18 of the second liberty bond act, by striking out “for the purpose of this act and to meet public ex- penditures authorized by law, not ex- ceeding in the sggregate $7,000,000.- 000," and inserting in lieu the words “for the purpose of this act to provide for the purchase or redemption of any notes: issued hereunder and to meet expenditures_authorized by law, not exceeding $7.500,000.000, at such terms, rates and conditions as the Secretary of the Treasury may pre- scribe.” This makes It clear that only short- term notes are involved in the au- thorization for $500,000,000 increased ‘borrowing. Outstanding notes now agsreg: $4,167.482,750, so that the Secretary of the Treasury has authorization for the issue of $3,332,500,000 additional notes. In the event of extended refunding opérations further authorization might be necessary, although the avajlable note possibilities will pro- vide for the outstanding Treasury ilerullcate and war savings securi- es. Calls for Matter of $12,000,000. Secretary Mellon this morning made & small draft on the credits of the Treasury, with the national banks, arising from the August 1 sale of cer- tificates, asking for payment of 5 per | Fi cent of the balance of the credit. ‘which will call for repayment of abouf $12,000.000 on Tuesday next. American Commercial and .Savings. Interests back of the new Ameri- _can Commercial .and Savings Bank, organized some months ago, announce that the bank will open about the middle of September, in temporary quarters, at 635 F street northwest, pending obtaining possession of the permanent location, and the erection of a new bank building of special design on the southeast corner of G and 7th streets northwest. The temporary quarters are being %:ndlmely prepared to house the nk, with a directors’ room and a mumber of offices for the real estate department. Edward Voigt, jr., will be the presi- dent of the bank. He was formerly vice president of the Central Savings Bank and is one of the well known “Jewelers of the city. Richard B. Owen, Edward S. Bra- shears and Ulysses G. Cunningham ‘will be the vice presiden Robert C. Bhaw, formerly of the First National Bank of Durham, N. C., will be the cashier and M. M. Doyle will be coun- sé] for the bank. ‘The directors will include the offi- cers named above and Messrs. C. G. Otwell, C. A. Brickwedde, R. E. Mc- Namara, Julius Johnson, B. B. Garvey, . H. Benjamin, George Hebbard, James B. Flynn, H. D. Ormsby, Grant S. Barnhart, A. B. Clark. R. A. Bog- ley, Thomas Cantwell, Robert Mar- shall and Charles H. Clark. sr. The capital of the bank will be $150,000 and it will start business ‘Wwith a surplus of $30,000. Personal Mention. J. B. Larner, president of the Wash- ington Loan and Trust Company, has been in the city during the greater part of the month. -He leaves today for his summer home for a few days’ Test. R. N. Harper will return from New York today. AL BONDS FIRM: PRICES NEAR 10 NEW YORK, August 20.—Prices continued to harden in the bond mar- ket today, especially in the railway section. Here the genbral average is getting close to the top of the up- swing, which culminated at the start of the month, when many rates ran up Pennsylvania 7s at 105% and New York Central 7s at 1034 were above their Fecant high and practically level with the best prices reached in the early part of the year. Very heavy trading continued in Great Northern 7s and thelr high figure of 101. Chicago and Northwestern 6%s got above 101, and Canadian Nerthern 6l4as at 99 were right u) to their best. NEW YORK STOCK Rectived by Private Wire Direct to The Star Office. ) 0% "% » 0% 118 Am I X m Intérnational. Am Linssed. ., .n.. » m Am Linseed pf. . o H% Am Tncombtive. L. ] 1% u% i & non iy % N oy ) s Anaoonda... M MM SN BN Aitegulrsi i B om B Atlantic Gul .18 > g: % 1% ELT Y 8% % 8% 7 N % 38 n = 0% 0% California Petrol.. 82% 3% 82 Canadian Pacific. . 113% 8% 113% Fmtrel Lesther... 2% 20% 2% € a% [ ) 3 5% ChiMil&StPpf.. 39 89 39 Chi & Northwn.... 64% 8% &% ChiRTA& Pacifie.. 31% 814 814 ChiStPM&Opt.. 2 7 7 Chile Copper...... 10 .10 9% Chino Copper..... 21% 1% 1% Coca-Cols........ 32% 8% 33% Col Gas. ... 53% 63% Col Graphophone.. 3% 3% 34 Cons Distributors. 4% 4% 8% Cosden & Co. un u 1% Crucible Steel..... 54 54 5% Cuban-Am Sugar. 12% 1% 12% CubaCaneBupf... ¥% 20 19% Denv&RloGpf... 1% 1% 1% Endicott-Johnson. 8 58 &8 Erle Famous Players. W % Lotls 5 Manhattan Biev... &6 & 2% Mfl‘u.?g Fan-Am Pote (85, P Phillips Petroleum Plerce-Arrow. Plerce-Arrow pf.. on Seabosrd AL pt... Sears Roebuck. ‘Texas Company. Taxas & PC & Oll. Union Pacific pf. () 1005 10o% @& DUSTRALS SOFT: RALS WERE SLOW Pressure by Bears Searching for Weak Spots—Comment on Conditions. BY STUART P. WEST. NEW YORK, August 20.—The stock market closed today with another series of losses in the industrial quar- ter, but with no general weak- ne: It was the same sort of a market that has been nearly all week. Professional sélling was di- rected against & few selected issues, and these were forced down, malnly because there was nobody willing to try to hold them up. The Steel Corporation’s third suc- cessive wage cut could not have been construed at all unfavorably. With the previous cuts it lops off some $200,000,000 & year from operating expenses and brings labor cost back to where it stood when the United States went to war. This is a very thorough deflation and is one more important piece of evidence that con- ditions are getting back to normal. Neither the steel wage reduction, however, nor the testimony in the weekly trade reviews that business throughout the country was gradu- ally‘mending, had any influence upon the price movement of the day. Earnings for the current quarter for most concerns are going to be worse than ever, and more dividends re- main to be lowered or passed. These Were Influences. These were th& considerations behind operations for the decline. But there was also talk, usual at such a time, of the’ selling out of certain lgans from sources which had suffered heavily by the great shrinkage in market valua- tions. Motor stocks were notably weak, with some of them down to new low prices. Steel common held firm and the fin- dependent steel stocke, while lower, de- veloped no important selling. Elsewhere the losses were confined to a few specialties. of conse- Nothing. quence happened in the exchange mar- United Drug. 515 53t 5ot oovs |Ket: which closed about where it did United Retail Strs. % 4% 4s% day | 125t Night. U S Cast Iron pf. 0% 0% 0% Next Week's Dividends. 74 | U S Food Prod. 16% 16% 16% 16%| Next week will be important for Its U 8 Indus Aleohol. dividend meetings, which will have a G- Mot 1% deb. ... U S Realty. lot to do with the immediate course of Great Northern pf. Haskell & Barker. invincible Oll..... Island Oil Jewel Tes. ... Kansas City Kelly-Spring Tire. Lackawanna Steel Laclede Gas.. . 60 Loews Inc. ‘Wilson Company.. 32% Willys-Overiand. HOURLY SALES OF STOCKS. 11am. - 7200 12M.... 185 900 BETTER BUSINESS VIEW FOUND IN 100 CENTERS Chambers of Commerce Optimistic Regarding the General Situation, Including Employment. By the Asdociated Press. PHILADELPHIA, Pa, August 20— The turn in general business and e ployment has come, and the situa- tion now is one to be faced with op- timism, according to. the -bellef ex- pressed by officials of chambers of dommerce along the eastern sea- board in at least 100 citles, ranging from Maine to Virginia, who replied to a questionnaire submitted to them by the Philadelphia Chamber of Com- merce. These replies, a tabulation from which was made public today, record the normal and present employment conditions and in virtually every in- stance it sald that employment was taking a slight upward trend. The total pumber of men normally in the various the compllation was The_ unemployment figures showed that 539,937 were out of"brk. This heavy total, it was ex- plained, represents virtually the peak of unemployment, with the taking place aince the figufes were compliled. TRADE FAILURES LESS. NEW YOREK, August 20.—"“Commer- cial defaults in the United States this week,” according to R. G. Dun & Co., “number 357, compared with the 361 last week, but & sharp increase over the unusually small tetal of 152 of the corresponding week a year ago. Failures in the east, 129, show some inerease over the 102 reported last week, but there is a contraction in ‘Westinghouse Electric 78 were not; the returns from the south. ninety-six disturbed by the selling in the stocks. They touched 101%, but later reacted 10 101%. The firmness of U. S. Rubber issues was noteworthy, as showing that the bond market is not sensitive to the influences which are depressing the stock market. The rubber 5s closed at 8%, as lg;hlst 783 yester- day. Cuba Cane gar convertibles ‘were unchanged at 801%. Goodyear 8s ‘were up a half point to 101%. Foreign Beads Streng. In the foreign government trading was mere active in the new Uruguay s at §8%. There was also unusually l.: transactions in Swed- ish 6s at an ‘The Copen! feature in _this quarter, ‘They were bid up en hesvy dealings from yesterday's close of 78% to 79%. Canadian provinolal {ssues closed thé week a half-point higher en the Y fanitoba 6s of 1981 were 91% bid, oftered at 93. The 6s of 1925 were $23% bid, and the 6s of 1930, 92 bid. m’%ukn for Ontario 5 8! 1 % n of 1925 bid, 0"!’? at 9114, for the 936, 85 bid. offered at §7%, and f 1928, 93% bid, offered at ers {n these bonds reperted ked searcity around ourrent was 48 of - NEAR PRE-WAR PRICES. Wholesale Dressed Beef in Eastern Markets Take Drop." ‘Wholesale prices af dressed heef In eastern markets thig week were down tao within 3 cents of pre-war prices of ."x'zll. the price doqll;u‘ ‘Qurln' the 1:1- ving been near. - cerding to figures mu.fl'.fi t by the Amcrh:n’ Meat Plel:r‘l' lnl:t'utt:i Average wholesale proxi; 14 cents a w\lu.rfi‘r.l the waeek Inst 20 c':u‘ln the t.:ni‘. 'l,l.r‘ (:f last year conts in 3 was ’au %wy grade L.% drepped 27 per cent during the last two weeks in the New York markets, and the next grade, medium, 19 cents, cy beef yrl-l halding “fairly firm,” because of the limited guanti- ties available, it was ata ese- figures l:no:lltd ’furn sh con- ers with opportunity for * ns ;r?'hnf." the nfinnu statenient said, 2 cularly the consumer whe dees naet insist on fancy beef and the popu- lap euts therefrom.” —_——— BAR SILVER QUOTATIONS. ‘YORK, August 30.—Bar sflver, ch!”"fi; foreign, 61%; Mexican NEW demest! d:fiu-, IN, August 30.—Bar silver, 38 :?:la"p'r Susie mahey II’-.“ per 4 '&m&; “mflfl!‘l bills, v i ! RS comparing with 113, while the west also makes a favorable comparison, with eizhty against 107. Some gain, however, appears in the total report- ed by the Pacific slope, where fifty- two compares with thirty-nine. Fail- ures in which $5.000 or more is in- chief obstacles in the way of a gen- eral revival of activity in & aumber o departments of trade. This coaditio 18 especlally marked in the iron an hxllllu shows dvices from i‘x"i' h';d\lltl')'. 'lo:. ttle improvem: u;c leading ;ol.:h. however, are to the effect that. producers aye ex ing their output’snd sdding te forces. tend- their "li‘-v;n)‘lc s nmr:.:. lr; n;lv':d the textile division, dema: T Sortan 'gaod Snteined ing well my ! es phg ‘l|fi uu.;::n“la'-'::ob: tfi':-uu qmntl.t?:l. and some lines R R, e S I DIVIDENDS DECLARED. Hoeors oote cord. 3 American Power & Light Co., < i bori Water G iAns 10 Ave lord ter Co., q, ..Aug. 19 Aug. Facstort Water o a, ¥ A 0 A Sept. 7 Oect. Mickay Cos., W o ¥ Mahoning Investment 150 Mascoma $1.50 Mascoma Power & pL.. $1.50 Mhireat *Cotton, Montreal Cotton, Ltd., pf., q. $1.75 Rl Prorier $1.50 CURB BTOCKS. Quotations furnished by W. B. Hibbs & Co. Aetna Expl ¢ Allea oypiovires Blg Ledge Roone 0f . Roston and Hoston the stocks concerned and probably also with that of the general market. The latest word about Famous Play- ers common, the meeting on which oc- curs Monday, is that the full dividend will be declared and paid in cash. The Worthington Pump dividend _on Tuesday is extremely doubtful. The company during the first six months covered its preferred dividends with a smail balance besides, but it is getting no neWw business, and its present orders will run out before the end of the year. It is understood that the Montana Pu;;—er dividend on Wednesday will be paid. On Thursday directors of Rallway Steel Spring meet, and it is expected will declare the usual disbursement. Current earnings are at the rate of 7 per cefit per annum as against the. 8 per cent required for dividends, but the company's cash position is so strong that it can easily afford to make what- ever slight draft may be necessary upon surplus. International Nickel. The decline in International Nickel was principally a case of bringing a stock which had previously not gone down very much from its best of the year into line with the low valuations elsewhere. International Nickel com- mon has been off the dividend list for over two years. Six months ago it cut own production to an absolute mini- um, and, in conseqliénice, the last quarterly report showed bately any- thing earned on the stock at all. Although inventories of §: as of June 30, were high, up from September 30, 1920, and, right at their peak, the financi dition is strong, because the company owes no money at the banks. Not only does it owe no money, but it has $1,500,000 out on call $1.200,000 cash on hand. If Nickel can g0 through the period of depression, as it has been, with earnings equal 13,048, uvon surplus, it will be doing well rib Trading - 7 | the stock. r Jogut and Powe o8 —_— Cltlen Service (o) PR it e (0 i* 11" | FAR EAST PARLEY READY. £ = Consolidated Copper™® < % .| Negotiations at Dairen Scheduled Continental Motors 5 8 i griwon Coid S to Begin Tomorrow. Dominion 0ii L 3| By the Assoctatea Press. Dumnt Motors 24 27 TOKIO, August 20.—Negotlations 3 % 8 |bstween representativ - 24 nege government and Rgtncers Petrolenm g i‘g republic will opened at Dairen to- Forans Croseus . 0 3 |morrow, newspaper dispatches an. Federal 011 1% 1516 nounce. Penaland 01 H ® | A Harbin dispatch declares that Gllliland 0il 1 1% | members of the Chinese e n Glen Alden Coai’! 31 P t y report GlemreckOn-os k(3 78 |that rumors of disturbanees at Chita, ol Granads Heela Hercul Intereontinental Rui International Petroleum (new) Jerome Verde .. Ka. hureaw markets).—Cattle—Re- £ | ceinta, 1,800 head; compared with a week ago. Beef steers, strictly cholce and prime, grades, ateady to 10 higher; ethers 25 to 1.00 lower; spots off more medium and good gradea .suffered mest; fat she stock, general steady; in between grades, weak. Veal calves, 25a50 :1";."'1‘ stogkers and feeders, strong e H ipts, 4,000 heads; large- 1y 25 to a%‘e' Ruver than yesterday's average; top packing grades, off most; holdover moderate, mostly held market; top, 10.15; bulk, light and {ght butchers, 9.75a10.10; bulk, patk- BOW! uneven, | the seat of the government of the far eastern republic are untrue. There however, a small insurrection, it was easily overcome, it is added. —_— NEW YORK BANK STATEMENT. NEW YORK, August 20.—The actual condition of “elearing house banks and bond trust companies for FOREIGS EXCHANGE. lling checks—dollar values at L 7360 Budapest - . 774 58 sersen i is gm: volved show moderate contraction, | Merrit 0 tho week showe: thete s but owing to the falling off "\ the iwest Qi1 $16.975.670 resorve in exu‘;gyorh‘;:‘f Sand, feal, D i Sl peaairemcala e B ndronse chan, = of $1,171,720 from 1 3 Ccies, which represent -58.7 per cent tain Prod $ “ ast week of the whole, a ainst 54 per cent ¥ e ln'; vlvleek. 1o Oasets thi ok ave ipiselng M Co. OIL STOCKS, “Failures in Can: s w otations furnished by W, B, & larger than last week, fifty-three A-‘“P t * S n;:a‘.‘ Af:’od comparing with thirty-six, whereas, a | Northwes 20 | Anglo-American Ofl (new) 1 18 year ago they numbered only tweaty- | poltf, 4% | Borne-Scrymaer_Co. ui 300 three. Of this tetal, tI nlg ad jon P 82 B4 Miabilitles amounting to $5,000 er - % 5 m more, against sixteen last week fil'fl o 2 o eI twelve the eorresponding week t 2 115 15 year." Lk 2=“ Mureka E ;g 82 TRADE REVIEWS. it G oy | Stiems 8 8 NEW YORK, August 20.—Revival of | Sime Fetrel 8% | Nat 26 ° a7 made slow but fairly steady Tron 3 Yo 145 ° 150 with slight 21 | Nortne LA ng in the tional 23 2 g trade in wear- At v 72 |Peanats & ap] nd with larger Ul 1 180 sales at htly batter prices in such t and = 350 lines as ailk Tnd:, shoes, ea 3 = goeds, raw wael u{ iron and 1, | Uhif 1t 1516 - according to weekly trade reviews. % 2 % Bradstreet's ascribed tha more eon- {U. - %0 i fident tone in buying to the advance of o 530 u}- season, the hetter tene of erop lq' Wi B 18 ?.2 vices, the fear or the absolute knowl- N 1 edge of small stocks held in distrib- 73 F7 utors’ hands and the loosening up of ® 4 credit consequent on the less tense Bfl)— 5 ul-’“ ition “:z‘ the ."m u:rknm 3 24 =0 n's ew +The recovery {o trade and Industry 04 still drags, but the optimistic feeling . 8 FOREIGN BONDS. heretafore noted is extendliig inte ther 7 3 ather channela, where .,,,‘?1" as | Bvi o 26 Quutlflnnfl::xlfld by W. B. Hibbs & Co. been strongly pronounced. Price un- fi Closing P certaintiea continue to restriet for- Beriin da; . 12 German gov. ward buying. In_ some directions Siromen 4348...o, 1439 Krupp so s, orders are he! Ln{:cll with ucu‘r CHIOAGO LIVE STOGOK MARKET. ing freedom. ck of confidence in! CHICAGO, August 20 (United States futuye values is, howavey, ene of fl-l of enough to justify the present price of | s« rail- | 30.0: {Ban_Diego,.. 20.80 Noon prices to ta atrect New Tork-WashiARton wire by Hedmend & Co 106 w02 Bel U. K. of G. B. and rlefund 0% U. K. of @. B. and Iteland B e U. K. of G. B. and Ireland 5 . K. of G B. aud Irel 13 1 Kinevican Tel angorer ad i Aitiison, opera yad Chison, i Atlantie l,!flllt }Jn: Banta Fe gen. 4 . 4 Chesapeake and Ohjo cony. 82! Chicago, Mil. and St. P. ref e ChL., Mil. and Bt. Paul con; 80 Chi€ago Nort 1021 [ Great Northiern 7s 193 Iilinots Central Transi Nashville 7s, 1930. Missouri, wax mnd Texas 1st 4 Missourl’ Pacific’ general 4 New York Central Tu, 1080 w York Centrnl deb. Ga. n Francisco 4x, d San Franelsco s 1 d 8an Fraetsco inc. Alr Line refd. 4y . Seuboard Air Line adj. 5 Sinclair Con rn Grain, Produce GRAIN AND PROVISIONS. BALTIMORE, August 20 (Speci —Potatoes, white, bushel, 1.75al 100 pounds, 2.25a2.75; Nos, 2 and al.f0; sweets, barrel, 4.50a5.0 4.00a4.50; beans, bushel, 75a1.40. bunch, 2a3; cabbage, head, 4ai rotts, ‘bunch, 2a3: celery, crate; 3.50n 4.00; corm, zen. S8als; cucumbers, basket, 35a45; eggplants, hasket, L 30; lettuce, ‘bushel, 1.00a1.50 beans, bushel, 5 onjons, 1.25a1.50; peppers, ~ basket, squash, basket, 20a30; tomatoes, ba ket, 50a70; bushel, 1.15. Apples, barrel, 2.50a4.00; bushel, a3.00; cantaloupes, basket, 30 crate, 50al1.25; damsons, pound, grapes, common, basket. 1.25a1.50. basket, 1.50al1.75; crate, pears, ~ Bartlett, ~basket, Seckels, 75a1.00: common, 50a75; plums, bushel, 2.00a3.00; wa melons, select, per 100, 20.00a: primes,, 8.00a15.00; culls, 3.00a5.00. CHICAGO, August 20.—Wheat dis- played some strength at the opening today. This was brought about main- ly by the buying of local traders. The bulge, however, was not mai tained, as offerings increased in ad- vance, and a reaction followed. Onon-’ ing quotations, which were 14 to 1% |}, higher, with September at 1.173% (o 1.18, and December at 1.18 to 1.8%%, were followed by a setback that threw the market figures to around vesterday's close, but the market ral- 1ted slightly. Corn displayed further weakness at| the opening.” Some selling of Se tember and buying - of December drove the figures to a new low level. The market opened unchanged to % lower, with September at 52 to 52%. A fractional rally on December fol- lowed, and the market displayed some firmness. Oats showed independent strength, opening 3 higher, and maintained part, of the advance, with September at 33%a33y. Provisions were steady. Potatoes—Weak; receipts, 69 cars early; Ohios, sacked, 3.25a Minnesota' and Kansas, sacked, 2.7522.90 cwt.; Colorado and Idaho, white, 3.6583.70 cwt. 1 ——— THE WEATHER For the District of Columbia— Showers and tHunderstorms late this loans, besides |afternoon or tonight; tomorrow fair and cooler; moderate southwest, shift- ing to northwest win. For Maryland—Showers and thun- to its expenditures, and with no draft {derstorms late this afternoon or to- night; tomorrow fair and cooler; fresh thwest, shifting to northwest ds. r Virginia—Local thundershowers tonight or tomorrow, except falr Sun- day in north portion; cooler tomor- row; moderate to fresh southwest, shifting to northwest and north winds. For West Virginla—Thundershowers this afternoon or tonight; cooler to- night in west portion; tomerrow fair and cooler. Records for Twenty-Four Hours. ‘Thermometer and barometer read- W 'hermometer—4 p.m., 81; 8 p.m., 7! 12 midnight, 65; ¢ a.m., 66; 8 a.m., 72 noon, 84. Barometer—4 p.m., 30.04; 8 p.m., X 12 midnight 30.05; 4 a.m., 30.0: 8 a.m., 30.03; noon, 29.99. Highest temperature, 84, occurred at noon today; lowest temperature, 65, occurred at midnight last night. Temperature same date last year— Highest, 73; lowest, 65. Condition of the Water. | Temperatuyre and condition of water ! t 8 am.: Great Falls—Temperature, ; cendition, muddy. Tide Tables. (Furnished by United States ¢oast and geodetTc survey.) Today—Low tide, 3:28 am. and 3:45 pm.; high tide, 9:06 a.m. and 9:20 p.m, Tomorrow—Low tide, 4:03 a.m. -and 4:23 p.m.; high tide, 9:44 a.m. and 10:03 p.m. The Sun and Moon. ‘Today—Sun rose, 5:25 a.m.; sun sets, 6:57 p.m. ‘Tomorrow—Sun sun sets, 6:56 p.m, Moon rises, 7:47 p.m.; Automobile lamps to be lighted one- half hour after sunset, Up-River Waters. HARPERS FERRY, W. Va,, August 20.—The Potomac and the Shenandoah rivers both slightly muddy. this morn- ing. rises, 5:21 am.; ets, 7:14 a.m. ‘Weather in Various Cities. irregular: steriing 60-day bills “and z Temperature. » commercial 60-day s on banks, ‘:" (’N I(X:K - ‘a’ 3= ;E’ satect | 502%: commercial 60-day, Dills, 3625 MM S t Demand, 3.65% ; cables, . Franos, 14 =§ westher. |derhand, 7.73%; cables, 7.74. Belgian CERS AN CTORS Statlonn § iz 58 &% francs, 'demand, 758%; cables, 753, OFFI D DIRECTO bR B 'Guilders, demand, 30.53; cables, 30.99) g ) Clark, s Ty Lire, demand, 4.28%; cables, 4. y Appleton P. Clark, Jr. 2 2t Marks, demand, 1.17%; cables, ¥18, PRESIDGNE 7 . Beesiens Washlnaion Sote O Jiilece. Fox. 80.04 2 e o s auuah [ seal Exfale SRt © Co.; Director, Washington Market BHESE SR e SR E R SR SRR T AREESARIRRRLE ¥y San’ Antonlo, 30. §. Francisco, 20.94 30,03 PE L PP T ST RS T EPT L EFET RIS LE LT I-lu? A. * Pearimutter, . the of T children, was one O women who recently passed admi th TODAY’S BOND PRICES. 15 | Union Pacific 6s 192 0: | average receipts, 39. | turkeys, per Ih., Ib. 0; | Parrel. 5.0026.00; No. 2, botatoes, per barrel, 6.0026.50: lettuce, Bouthern Rallwa; Bouthern Rallway Union Pacific 1nt Cnion- Pacific cony. gen. 4. United States Rubber 1 United States Rubber 7 United States Steel 8. ¥. b, Corp. 7s 1928, -Carolinn Chemical 7%s 1982... SHORT-TERM SECURITIES. (Reported by Redmond & Co.) & Tel n Tel. & 'l‘"l. n Thread Co. American Tobaceo Co. American Tobacco Co. . Ts 1930 Bethiehem Btee) Tn 1033. I.wlllh‘hvm Steel 7s 1923, Canadian Pacific Ga 1927 Gentral Argentine 6a 1923 Chicago, R. 1. & Pacific s 1 C. & Bt. Louta O 1929. Copper Export * Copper Export Copper Cudal; B. F. Goodrich 7s 1 Gult 0il Corporation H. J. Helaz 7« 1930 Hocking Valley 7u 1t Humble 0il 7x 1923, cunecott Copper 7s 1980, Lixgett & Myers 6s 1930. Procter & G Procter & k. J. R Sears, Roebuck & C So )i ¥ 6 LIBERTY BOND CLOSI NEW YORK, August bonds closed: 31s, 88.60; bid; 2d 4s, 87.64 bid: 1st 4% 2d 4%s, 87.68; 3d 4%s, 91.. 87.92; victory, 3%s, 9 91 and Live Stock LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per doz., 40a41; 20.—Liberty 4s, 87.78 8, '87.80; 4th 458, victory, Live poultry- Roosters. per_ Ib, a35; chickens, spring, ber Ib., 33a35; hens, per 1b., 23a26; keats, young, each, 35a5 niessed poultry—Fresh-killed spring chickens, per Ib., 35a38; hen 1b., £T; Toosters, per ib., 3a40; keats, young, 18; Ives, " choics per 1b., 10; -Apples, per bbl. S.N\al baskct, 1.00a3 West- per box, 3.30a5.00; Califarnia lem- | 'S, Der ‘box, 3.00a4.00; California i per7BeE, Per cfate. 6.00a700; peaches. bersi 4-00a6.00; " cantaloupes, per \est—ublm&—y’otlloefi, new, No. 1, per .5023.00; sweet " per 1b, live hogs, Der bush-l nearby, per crate, crate, 2.00a2. romaine lettuce, New York, . per doz., 60a%0; 1.00a1.50; cymblings, per crate, 50a75; spinach, per barrel, 3.00a4.50; onions, 1.50a2.00: cabbage, 3.0024.00 per bbl: cucumbers, 75al.50; ergplants, per crate, 1.50a2.00; tomatoes, 5a3.00; corn, 15a30 per dozen: s, 1.00a2.50 per barrel; lizaa beans, per quar e e COTTON MARKET! NEW YOR —The cotton market wi very . but showed a steady tone during today's generall early trading. There was some south- ern ge Z at the opening, but trade interests were moderate buyers and there w: a scattering demand en- couraged by favorable week-end re- jews of the goods trade and higher temperatures in the southwest. The market opened steady at an advance of 2 to 6 points in consequence and sold about 5 to 9 points net higher after the call, .with December ruling around 1350 to 13.52. compared with 13.43 at the close vesterday. Private cables reported rather a better tone in the Manchester market toward the end of thu week.- The early southern sell- ing was accompanied by reports that s was a shade easier in the southwest yesterday. Futures opened steady; October, 13.05; December, 13.48; January, 13.56; 13.76; May unquoted. 3W ORLE. advances of 7 . August 20.—After 10 7 points in the early trading today the cotton market soft- cned under reports from »outh T, 8 of a4 somewhat Jower spot basis and at the end of the first hour of business stood 1 to 2 points under vesterday's close on the most active months. Oe- tober traded up to 12.69 and fell back to 12.61. Futures opened qulet; October, 12.65; December, 13.02; January, March, 13:29; May, 13.40. Futures closed steddy at a net ad- vance of 3 to 4 puints: October, 12.65; December, 13.03; Jan- March, 13.22; May, 13.38. —_—a DAIRY MARKETS. BALTIMORE, August 20 (S8pecial). —Chickens—Alive, 26a31; white 1312; uary, 13.1 springers, pound, leghorns, 24a26; old hens,’ 23a27; old roosters, 1i5al6; ducks, 18a24; pigeons, pair, 25; guinea fowl, each, 15. Eggs—Loss off, native and nearby firsts, dozen, 37; southern, 35. Butter—Creamery, faney, pound, 44a45; prints, 45247; nearby creamery, ladles, 30a32; rolls, zx;.ao:zgsze packed, 27; dairy priats, process butfer, 34a3s. NEW YORK, August 20.—Butter, weak; receipts, 7.140 packages. Creamery, higher than extras, 43za 43; creamery, extras (92 score), 42; firsts (88 to, 91 score), 37gadlic; packing stock, current make, No. 2, 29, Fzgs—Weak: recelpts, 10.950 cases. Fre £ gathered, extra fi 4lads; firsts, 37a40; state, Pennsylvania and nearby western hennery, whites, firsts to extras, 47a59; state, Pennsylvania and nearby western hennery, browns, extras, 46a48; do., gathered, browns and mixed colors, firsts to extras, 358 45: refrigerator specials, 3614a3714; firsts, 35a35%. Cheese—Barely - 1,984 boxes. fresh specials, 21a21%; do., average run, 20a20%; state, whole milk, twins, specikls, 2la21%; do., average run, 20a211c. Poultry—Live, barely steady;. fowls, 26a32. ‘Dressed, steady; prices un- charniged. steady; receipts, State whole milk, flats, MONEY A} D EXCHANGE. NEW YO August 20.—Prime mercantile 6a6%. Exchange tine, demand, 29.87; Brazilian, demand, 12.50; Montreal, 10 per cen Government bonds irregula bonds steady. * WILL POOL 1921 CLIP. ‘?lrglnh ‘Wool Growers Meet at Staunton for Action. STAUNTON, Va., August 19 (Spe- clal).—Augustd county wool growers met here in an effort to devise ways and means for saving themselves on & weak wool market. Last year they discount, railroad Ppooled their 1920 clip of something like 50,000 pounds and this wool i§ still here in storage, they having been Aunwilling to accept prices offered thus far, The priee offered by local buyers is _about 17 cents per pound. The majority of those present at the meet- ing today signified their willingness to accept 25 cents, but appeared de- termined net to sell at a lower figure. + The 1921 clip will be pooled through the state assoclation of wool grow- ers and will be sent to Alexandria for | (i grading. g E f{- Many women are already seekin nomination &8 delegates to the pro: o R i FINANCIAL. - PAST WEER IN DRY GOODS. CHICAGO, Augupt 20. — Marshall ¥Fleld & Co., in their weekly review of Our policy has al- ways been 1o confine Phillip our business to such thes wholesale dry goods trade, say: . First limits\ we could “Current wholesale distribution of * |glve our personal @Yy Boods was somewhat ahead Of a supervision, and our ‘Week ago. The volume of orders from Mw ambition has never salesmen on the road remained a% been to do the larg- very nearly the same level. Notes est business, but the “Although there were somewhat mafext. fewer customers in the market than Our requirements last week, the number was larger than in the corresponding week of last year. *“Collections showed a slight falling oft from last week's total.” reurity, ithen a Mberal interest rate to the end v we can fully prot bur investors and re lieve them from all M t Loall cage in their | oney to ments with us $50,000—7% interest, in sums of $1,000 to 55.- bR L 0. caro by e dea oF ehues o o eata e Joseph 1. Weller 42 Wash. L & trunt _ | ness for fair dealing | a o (|| ———— with our borrowers| Call, phone | and protection to our | or “write for Ntors | warrants E U ITAB LE details. Also|us in stating it will our bookiet,| be to your in Co-Operative Buildi “Safety consider our First— ities before investin, Then Profit.”| elsewhere. William S. Phillips Real Eniate Investme: 1400 N. Y. Ave. E RECENT EVENTS IN THE world Lave demoustrated that 1 | most_ stabie in dollar with i Saving money will give you an inter- esting object in 1ife if you have a definite purpose In_view. Join the Equitable. Subscriptions for the 815t Issue of Stock Being Received Shares, $2.50 Per Month 4 Per Cent Interest EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Secy. <umx of upward, s = = Experience in Property “15 YEARS” Manage- | Investing many fhousands of dollars ment & for clients without the loss of a single Penny i a recommendation well worthy of mention fo investors in our “First Mortgage Notes” Notes in amounts of $250 up to How About Your Rental Property? $5,000 now on La Leave the care and We look after ali details and furnish c guaranteed titles with motes. The only management of your absolutely safe form of investment. Chas. D. Sager 928 15th 8t. N.W. Loan Dept., M. 36. rental property to us. The Collections will be made promptly and remittances made on the dot. Special attention is given to keeping down repair bills and select- ing reliable tenants. B. F. SAUL CO. Property Management 934 N. Y. Ave. N.W. ERNST & ERNST AUDITS—SYSTEMS TAX SERVICE Washington Office MUNSEY Bioc. Room 915 Telephone, Main 8807 ' Qur Interest and Your Interest are ‘identical, since our own funds are first in- vested in the mortgages we offer. This fact alone should appeal to you if you are seeking an investment surrounded with every reason- able element of safety and offering a liberal interest return. Our First Mortgage Notes on Washington, D. C., improved real estate meet all safety re- quirements and are backed by our record of 52 years without loss to an investor. Swartzell, Rheem & Hensey Co. 727 15th Stregt N.W. F Washington, D. C. The Nation’s Home Town 53 Years .“‘I'h-t Loss to an Investor | Do YouKnowtheFull Earning Power of Your Dollars? Invest in the 8% Cumulative Preferred Stock of the National Mortgage and . Investment Corporation iness of the tion, Which I The Pfih&hwmdmh > ch Is MR:mlble Doubt 4 SAFETY OF INVESTMENT INCOME DEFINITE AND FIXED OPP ORTUNITY ,FOR ADDITIONAL | PROFITS FROM THE Ca.; Director, Citizens Savings VICE PRES) Ban Contractor nn«P Bullder President, Citizens Savings President, Park Savings Vice Pre < William D. West TR eaainn & West Co., olp! Pr“llg::dt‘vnrs‘: anltll..!nlldan' upp Vice President, Citizens Savinga Fred T. Dubois Former United States Senator; President, Capital Service and formation Bureau H. Prescott Gatley Attorney, Minor. Gatley & Row- land; Director, National S8avings and Trust Company Frank J. Hughes ‘Bank, and Director, Park T e Eavings Benk P aahss Brothers, Baiiers, L. K%D-nl Royal Oak, Mich. SECRETARY A e Director of the Citizens Sav- - rector o Harry C. Birge ings Bank | Real Estate and Insurance » | c;(s‘&?{.erh-rv.wmn Real Elll\lA"lmK.lh;nd ey 3 Operator ‘ Alexandrip, Va. Investment Builder . [ | A portien of the stock ef the National Mortgage and Investment | Corporation is being offered at the same price paid by the officers und directors. Finance Corporation, 4. rece! the Hughes DT " Shone Slaly $53°and Maim $54.