Evening Star Newspaper, September 27, 1921, Page 20

‘ BUYERS FROM ALL SECTIONS i FLOCK IN Buying~—Shops Full of Customers. Situation Elsewhere. BY JAMES ALLEBTON. Special Dispatch to The Star. NEW YORK, September 27.—Buyers for retail houses in all sections of the eountry flocked into the New York markets this week. The apparel in- dustries were the chief points of in- terest to the buyers, although deal- ers in other commodities secured a ‘broad volume of business. The drop in temperature to more seasonablc fall weather has speeded up retail ‘buying and the shops were full of customers yesterday and today. There has_been a marked increase in at- theaters and other of amusement. The demand for steel products in, this territory continues to improve and several large pig iron contracts in progress of negotiation, with competition for the business ous iron centers. Building re on the increase, ce- in this secsion are oper- turers are “up to hot brick." ink demand right from the kiln. cure shipment of grain for expor! thkrough ports in this on is expected to aid this. oftered to buy half a million dollars’ means to restore ployment. Unemployment Situation BY L. 8. McKENNA. Special Dispatch to The Star. slowly improving. ——err IF you never have enjoyed this rich, cheesy breakfast de- light, you'll want to try it real soon. IUs as great for luncheon as it is for breakfast! Spread hot-cooked AUTH’S Sausage Meat on buttered toast, add prepared mustard, sprinkle with grated cheese, and bake until the cheese melts. Serve piping hot! B Sold by all leading grocers B and at our market stands Look for *Circle of Goodne identifying AUTH’S Products, Bs... and insist on getting s | 9 SAUSAGE MEAT (In 1-1b. packages) Made in Washington by N. Auth Provision Co. Under U. S. Government Supervision. Attend One of Our Daily Demonstrations This Week (Twice Daily—10:30 A.M. and 2:30 P.M.) Of the Remarkable LAUINDRY-ET L . WASHES AND DRIES WITHOUT AWRINGER 11— . /\dr ‘Give me back my soft white hands!” *Certainly, you dear good housewife, iere's a Laun-Dry-Ette” ON'T useawringer. Usea Laun-Dry-Ette, D and keep your hands out of the water. The Laun-Dry-Ette is the electrical washing machine that not only washes your clothes, but dries them too. It saves both clothes and buttons, and it keeps your hands soft and white. » 1f it has a wringer it isn’¢ & Laun-Dry-Ette. Let us ive you a demonstration of the Laun-Dry-Ette— 5-: unly electrical washing machine that's differedt. TO NEW YORK MARKET Advent of Cocl Weather Speeds Up Retail ating at capacity and brick manu- fs That is the brickmakers have no reserve supply in their sheds and are supply- Streng effort is being made to se- h territory, amd reduction in ocean rates just agreed A Brooklyn department store has worth of goods to be sold at cost as a confidence and em- ” Still Drawback to Trading ST. PAUL, September 27.—Wholesale and retail trade continues on a fair basis in this territory with conditions The unemployment situation, however, is blocking the re- The Store for Things Electrical; Everything for the M. otn'at THE EVENING STAR, WASHINGTON, D. C., TUESDAY, SEPTEMBER 27, 1921, TRADING IS LIGHT; | 55erisiect LOSSES REGAINED Just whether this was for s of accumulation or whether Mercantile Marine Preferred a Strong Stock—Some as the replacement of stock sold Early Losses—Notes. it higher up is a question. BY STUART P. WEST. The situation in the Mercantile Ma- rines is not one that would readily WALL STREET, New York, Sep- tember 27.—The movement on the ;llrlfit the outside public, which is stock exchange today was of very eing filled up with the stories of stupendous losses in our own ship- little consequence except as it de- monstrated that yesterday's down- ping. One thing which is in favor of Marine is that its overhead is low ward turn was nothing more than a reaction in a market the main tend- and that ships are carried at con- ency of which is to hold its recent servative figure: The $6 dividend rate is held to be reasonably safe. gains and come to rest, for the time being, around the higher levels. —————— Professional traders endeavored at EUROPEAN TRADE GROWS. the opening to follow out their America’s trade with Europe re- vived somewhat during August as compared with July, but commerce between the United States and South America, as taken in the aggregate remained almost stationary, accord- ing to figures issued today by the De- attack of the day_ before upon Mexican Petroleum, Baldwin Loco- motive, Studebaker and one or two other highly speculative issues. But the losses thus sustained were rather easily regained later. On the other hand, no fresh interest to partment of Commerce. xports to Eu; 1 - e avort rope last month o speak of was manifested on the side of advance in prices, except in the 00,000, as compared with a valuation of $180,000,000 in July, while imports were $59,000,000 as contrasted with $57,000,000 in July. Exporta to S8outh America amounted to $14,000,000 in August, as compared to $16,000,000 in July, but comparison with August, 1920, shows a decline of more than two-thirds. Imports from South America were $23,000,000 shipping stocks. Marks Azain Weak. The two incidents of the day which came in for most attention were a further violent fall in German ex- change and renewal, after a week of hesitation, in the advance in cotton. German marks were even weaker than yesterday, lling as low as 81.100 of a cent. Their market was more com- pletely destitute of support than it has been at any time. The idea that this decline cannot go on much longer, that the German gov- ernment and German business men must get together with some plan for stabilization,- is all very well, but it conflicts with the other view, which is becoming increasingly prevalent, that Germany is not interested in stopping the depreclation in its cur- rency until it has given an object les- son to the world of the futility of asking it to pay cash on the next in- demnity instaliment. Again the fall in the marks in< creased the demoralization in all the central European exchanges. In fact, it could almost. be said that the mar- ket for this class of bills had disap. peared, so far as any regular quota- tions are concerned. Cotton Situation. With the cotton trade the question of the last week or more had been whether the sensational private esti- mates of crop damage ought'to be the prime consideration or whether more heed should not be taken of the threat that the spinning industry would cur- to 1.20 Somerset, light, 20, to 1.43¢ Ragland, 25, to 85. } Increased demand from pefinegfies was given as the cause of the fud- vance. turn of business to normal and business leaders, American Legion officlals and municipal and state officets will meet luter this week to consider means to provide places for men without work. ‘The loan of $5,000,000 through the War Finance Corporation to farmers of this section to enable them to market their grain in an orderly way will be dis- tributed through the local ngency of the United States Grain Growers, Inc. | and the first of the loans is expecte: to be placed in the near future. The demand for winter wearing ap- parel has been reasonably good and manufacturers have their plants run- ning on a satisfactory. basis of profiuc- tion. Distributors of dry goods and no- tions are shipping in constantly increas- ing amounts. Mail order business and house trade continues active. Makers and jobbers of shoes, especially of the more reasonably priced grades, report & satisfactory d Slsteict er lemand thmut?uut the Growing Pay Rolls ‘Make Impression op Business BY H. B. LAUFFMAN. Special Dispatch to The Star. PITTSBURGH, September 27.—All lines of business are improving in this territory and, while gains in many in- stances are not extensive, they suggest a healthy growth and stability. The district is feeling the effect of steel plant resumption and increased opera- Uons in that basic industry. Growing pay rolis are making an impression on general business, The ‘advancing prices which have been recorded in some lines of steel products have been more productive of orders than were the reductions announced earlier in the year. The entire steel market is firmer and, whereas price- cutting generally was practiced a short time ago, manufacturers now are in- clined to hold for open quotations or still higher figures. A further expan- sion in the steel output is taking place this week and kindred industries will show similar improvement. - The natural gas companles serving rict shortly will raise the rates 5 cents per 1,000 cubic feet, from 45 to 50 cents. This action is expected to Incfease domestic demand for coal. The coal market here is still dull, with a large part of the buying in the open in several ing trades have been agreed upon this week and work soon will start on important structures. Commodity Reports From Various Sections Steel and Irom. YOUNGSTOWN, Ohlo, September 27 (Special).—The ‘mills here are ex- pected to reach 60 per cent of capacity production this week. The schedule shows 85 of the 105 milis in the Ma- honing valley in operation, and for the first time in a year bonuses of $1 and $2 a ton are being paid for immediate delivery of sheets. PITTSBURGH, September 37 (Spe- cial).—Closed for four months, the Standard Tin Plate Company plant at Canonsburg, Pa., today resumed on & 50 per cent basis. The blant will women's wear are larger than at an; et e e b CRUDE OIL ADVANCED. PITTSBURGH, Pa., September 27.— All grades of crude oil quoted in the Pittsburgh market were advanced to- day by the principal purchasing agen- cies as follows: Pennsylvania crude, 25 a barrel, to 2.50; Co'ning, 25, to 1.45; Cabell, 30, to 1.41; Somerset, 10, MONEY ALL CUT TO PIECES IN USED CAR VALUES Until September 30 (next Friday) we are concentrating on a sale of GOOD used cars. Every One a Bargain. Look At This List Buick—1921—S5-passenger—run 3,000 miles Dodge—1918—Excellent shape Lexington—1921—New (Anstead motor) ... Dodge—1917—Roadster. Good shape Nash—1920—Demonstrator Nash—Model 681—S-pass. . Nash Sedan—Late model Jeffrey—7-pass. ......... Overland 4—1920—Like ne Overland 90—1918—Right at Dort Sedan—1921—Little used . Maxwell—1920—3,000 miles . Maxwell—1918—Bargain at . Buick—1918—Excellent buy . Chalmers Roadster—Mechanically O. K. Oldsmobile—1918—S8-cylinder—snap Westcott—1917—7-pass. Unequaled buy . Nash—1921—7-pass.—Demonstrator Oakland—1918—Good 5-pass. Oakland—1921—Brand new .... Oldsmobile—1918—Roadster Gloves. CHICAGO, September 27 (Special). —Canvas glove manufacturers in this section predict higher prices for work gloves later in the season because of :hs advance in the price of raw cot- on. —_—— Mercury. the swiftest fraveler among the planets, moves through space at the rate of thirty miles a second. Jewelry. - NEW_YORK, September 27 (Spe- clal).—Preparations for the holiday season have not been so extensive so far this year as in the last three years. Interest” apparently is centering in popular priced jewelry and conces- sions In prices at retail stores are frequently reported. Business Notes. BROOKLYN, September 27 (Spe- cial)—Bids on the big project for a new boardwalk at Coney Island with jetties to protect the beach, will be opened tomorrow morning. The specifications provide that the work must/ be completed within 240 days, and, it is expected, will give needed employment to many jobless men. It is hoped the work can be carried on without crowding the bathers from the beach next summer. BOSTON, September 27 (Speclal).— Demand for cotton goods has put the wheels of the textile industry to turaing at greater speed in New Eng- land, with decided Increase in em- ployment. The Windsor print works, at North Adams, has put on a night shift. The Arnold print worl at Palmer, {increased operations last week, and the Otis mills, in the same town, are operating at capacity. At White Valley, White Brothers have resumed after a five-week shutdown, and the Daniels Manufacturing Com- pany, at Brookfleld, is working on a day-and-night schedule. PITTSBURGH, September 27 (Spe- cial).—Merchants in this section, en- couraged by the trend of business toward a more stable basis, are in- creasing_the advertising space they use in dally newspapers. They de- clare they anticipate a fall ‘trade which will closely approximate the volume of business recorded in nor- mal years. —_— LIBERTY BONDS ACTIVE. Investment Buying Assumes Im- pressive Dimensions on ‘Change. NEW YORK, September 27.—Heavy investment buying of liberty bonds, credited to large corporate and in- dividual interests, assumed impressive dimensions on t stock exchange t last month, against $20,000,000 in July. HEARING IN S. B. TAX ISSUE. ASHEVILLE, N. C., September 27.— Hearing of the application of the Southern Railway Company for in- junction to prevent collection of taxes in North Carolina under reval- uations figed by the tax commission will be hdld at Greensboro October 6, before Judge Henry G. Connor of the eastern North Carolina district, Judge James E. Boyd of the western district and Judge Edmund Waddill of the United States circuit court of appeals. A. D. Watts, tax commis- sioner,. and one hundred and fifty others, including sheriffs, city and county tax collectors, are defendants in the action, instituted in United States district court at Greensboro. PREFERRED STOCK DIVIDEND. PITTSBURGH, Pa., September 27. Directors of the Superior Steel Cor poration of Pittsburgh _yesterday passed the regular quarterly dividend of 75 cents a share on the common stock, and declared the regular quar- terly dividends of 2 per cent quarterly on the first and second preferred stocks, it was announced today. —_— BAR SILVER QUOTATIONS. LONDON, September 27.—Bar silver, 43.3084_per ounce; money, 3.104 per cent. Discount rate: Short bills, 4% per Cont; three-months bills. 43 Pper cent. R cepting the tax exempt 3% per cent issue, which suffered & nominal loss, most every issue put out by the government to meet its expendi- tures In the world war was higher by about 20 to almost 90 points. Dealings were most extensive in the second, third ‘and fourth 4s and in victory 4% coupon notes. "All these issues have been in demand since the recent change of sentiment in flnan- cial quarters. They have derived ad- EADERS of THE WASH. operate as an “open shop.” with the |ditional impetus, however, within the| tail production rather than follow INGTON _ §TAR visiting pay to common laborers 28% cents an |last few days, the reduction of re-|prices up any further. As it turned London are invited to make hour. discount rates by federal reserve|out. the argument of the short crop use of THE WASHINGTON NEWCASTLE, Pa., September 27|banks presaging cheaper money and the suggestion cven of an actual STAR Office and Reading Room (Speclal).—Carnegie Steal e,(':‘m:l‘;)an; making interest returns on these is-lgcarcity In the world supply before 16 Regent st: ondon [] sues more attractive. —_— COTTON MARKET! the end of the crop year proved the dominating factor. Today's upturn was furnaces Nos. 2 and 3 will resumé to- morrow. As soon as there is an avail- able 'supply of iron the steel plant NASH DEALER largely assisted wiil resume. ¢ v by a revival of export orders, which PITTSBURGH, September'27 (Spe- | Octaber novices isoued here A O L T i reing | 1522'24 14th St. N.W cial).—Melting scrap iron is strong|ceeded expectations, amounting to ::’tha“auwm" OE eneis futite ver mali, advice obtained on all around $14 a ton here. fully 82,000 bales. Between the ap-{ g ,jrements. m SEELavel, and iwhere A American visitors London Open Si very Evening pearance of these notices and rather disappointing late cables from Liver- pool, the market opened 8 to 20 points net lower, but after sellihg at 1945 on the call, October soon developed sufficient strength to jndicate compe- tition for the local stock, and this naturally promoted buying of later months. Futures opened steady. October, 19.50; December, 19.90; January, 19.97; March, 19.90; May, 19.62. LIVERPOOL, September 27.—Cot- easy. Good middling, middling, 15.09; middling, 1 middling, 13.49; good ordinary, ordinary, 11.69. Sales, 14,000 bale: including 10,000 American. Receipts, 1.000 bales, including 200 Americap. Futures closed ateady. September, 14.51; October, 14.29; December, 14.00 January, 13. March, 13.4 Ma, 13.08; July 1 . NEW ORLEANS, September 27.— While the market for cotton today was affected unfayorably at first by reports of large October tenders in New York, some estimated being as high as 90,000 bales, a quick recovery set In which had the months under least pressure at net advances. - Futures opened steady: October, 19.40 December, 19.55: January, 19. March, 19.40; Ma BALTIMORE LIVE STOCK. BALTIMORE, September 27.—With heavy receipts the steer market at the stock yards yesterday declined 50 cents, while on Saturday it drop- ped from 25 to 35 cents. Heifers were 75 cents lower, while bulls and cows dropped 50 cents. The market for sheep and lambs, hogs and calve; was also lower and inactive. Receipts and quotations are: Cattle—Receipts for week ending at noon yesterday were 5091 head, against 4,619 head the previous week. Receipts, 203 carloads for market yesterday. Steers, choice, 7.50a8.00; good butcher, 6.25a7.25; medium, 5.25a 6.00; common, 4.00a5.00. Heifers, e, 6.00a6. fair to good, 5.00a common to medium, 4.00a4.75. cholce, 4.5086.00; fair to good, common to medium, 3.00a hoice, 4.50a5.00; fair to 5; common to medium, may be tgaced through the Reg- istration Department conducted by eur Londen ice. Marine Preferred. _ The strength in the Mercantile Ma- rines was one of the features again today. The buying responsible for Lumber. SAN FRANCISCO, September 27 (Special).—There is a strong export demand for lumber here and an in- crease in domestic orders is reported. Lumber dealers have reduced prices to ald the paign for home building and to a t in providing employ- ment for the jobless. BOSTON, September 27 (Special).— ‘There is some building going on here, but it is confined largely to dwellings and office buillding! Factory con- struction is at zero. Some large lum- ber dealers have considered the ad- visability of closing their yards for the winter. Coal a Coke. DETROIT, September 27 (Special). —The 20 per cent reduction in freight rates on coke over the Pere Marquette lines now effective in this state, will be pyt Into effect in other states en- tered by the carrier on October 20. PITTSBURGH, September 27 (Spe- cial).—Coke is steady at $3.25 to $3.50 {’or furnace and $4.25 to §4.50 for foun- ry. UNIONTOWN, Pa., -September 2 (Special).—Activity at the mines indi cates increased coke production in the near future. Thirty men are cleaning up at the H. C. Frick Company Brown- field mine. At Leith, Bute and Phillip: all Frick operations, clean-up work is being rushed. The Mount Braddo¢k plant of the W. J. Rainey Company is firing all ovens. The Polecat mine of the Evans Coal and Coke Company re- sumed toda; - Here’s the Mine Part Of Your Anthracite Bill IS HARD for the anthracite user to believe that somebody is not making a big profit on coal at say $14 a ton. (It costs more in some parts of the country). But show him an itemized bill of mining costs and he is able to judge for himself concerning mine owners’ profits. Here are the facts: Fruit. SEATTLE, September 27 (8pecial). —There has been a heavy export de- mand for apples on the Pacific coast, and this is expected to clear up the surplus in the western terminals. Prices have stiffened on the strong de- mand. - SAN FRANCISCO, September 27 (Special).—The prune drying season practically is over. The crop has been of fine quality, both domestic and ex- port demand has been good and prices are increasing. Wool. BOSTON, September 27 (Special).— Orders of considerable size for a num- ber of grades of wool, notably the fin- er fleeces, which have been inactive lambs—Receipts for of late, fs Tesulting in a much broader | Week ;:g:;,'t.;; jaceny ?;;rg:zdvt-;: i 5 . ; fll;l;fiogzfi;lnl;fl&::;lalal‘:r Sradeinoy, glrevloundwele;l'(v:‘ rlights h!eue%plyi market THE AVERAGE RECEIVED BY THE Subtracting the average cost Of Pl'osdo“g?;)flle(:vsis) NEW YORK, September 37 (8pectat. | lambs4.50a9.25, « o 1 ODUCER AT THE MINE FOR HIS TOTAL from the average price at the mines ($0.15), oo ~—There is still a considerable demand for woolen gbods for fall and winter wear in this market at prices estab- lished earlier in the year. Trading in raw wool is active at firm prices. Hogs—Receipts for week ending at noon yesterday were 13,717 head, 12,899 head the previous fair supply, market lower. 9.26; heavy, 9.00; mediu light pigs, 8.00a8.2! roughs, 5.00a7.00. Cajves—Receipts for week ending at rioon_yesterday were 1350 head. margin of 60 cents to the mine owner. Federal Taxes and interest on investment must be paid out _of this 60 cents before any profit can be made. The U. S. Fuel Administration found that anthra- cite mines have an investment of about $8 per ton of TONNAGE IS $6.15. 60 per cent of all anthracite bout (tl?:z:;edednqmm-'nndnm) / is sold at the mine at prices ranging from $7.60 to $8.60. Ten cent is pea sold ¢/ Automobiles. SAN TFRANCISCO, September 27 (Bpecial).—Dealers in medium and 238,000 bushel creased 671,000 bushels bar! low priced motor cars in this section | against 3,268 head the previous week: t a’‘marked in in sal liberal supply, market dull and lower. at $6.00. remaining 30 per cent is com- A incuiries. ~ Thin in- attributed o Te- |Calves, 4.50a12.50. posed of the small ” sizes, (| annual production. cengipEice sreluctions : S wheat, rice ;:Lrlq) and sells at an aver- 850“"“:’ BEND's:"«;d" September 27| VISIBLE SURPLY OF GRAIN. age g" about $2.25 a ton—much In an industry involving so mueli of hazard (Special).—The Studebaker Company| ypw yORK, September 27.—The 3 cost of production. as the mining of coal, a return of 10% on the has not curtailed its production of |yisible supply of American ~grain verage & could not be considered excessive. motor cars, and s now turning out ;hows tlée 4’3&?%’5‘ ::m.ngo ‘Wheat, i er of _llehv:dmmt T80 » ebout 425 a day, with indications |increased 4999, The average cost ol produdn‘nllum un- alone would permit cents per ton body could make that much. that this rate will be maintained. profit—if any! i rye, increased ey, of-mine anthracite, preparing it in 8 marketable sizes and loading on cars, at the present time is $5.55. 560,000 bushels; increased Shoes. 795,000 bushels. 4 BOSTON, September 27 (Spectal), | ——————— is divi . : Tlmfigurwshowacostofproducflonmn_khgn A declded inc?e::; l:-r:heh demana tor DIVIDENDS DECLARED. - M Wdberidas Al absolutely impossible (after Federal taxes and interest the ch shoes for ex- . 2 . S e ey > Becord Labor, perton « o $3.92 .on borrowed money are provided for) for the anthra: Y ow Engiand. Dare suip, Corp. DY, . 82 Sept. 20 Materials . . . . . 105 cite mine owner to make more than 50 cents a ton e g trwrnine ot e b o ki Insurance, taxes, profit. Few exceed it, many make less and some are el hanugacturers From dttione| Bub. serv: of N: it du selling expense, etc. .58 operating at a loss. ‘dormant for | Pub. S. of N. Iii. pf, q. $5.55 T e ceCuchume of Bhipmenlp \ ERS TO AP; 3 ; The difference between the mine price and the o . Viaia' the mext Slght weels: ot o This cost applies alike to coal selling at the mine __ih8 ST TN Mgt charges and holders of the Grand Trunk railway have decided to appeal to the privy council against the recent finding of the board of arbitration declaring the common and, preferred stocks of the railway valueless, it was announced today. Eminent counsel will be en- gaged to prosecute the appeal. Live Stoek. ST. ‘LOUIS, September 27 (Special). —Hogs are quoted here at from $5.60 to $8.65, and tallow is selling from 2 to 2% cents & aounfl. Veal brings —_— for $7.50 a ton or more and to the small sizes of coal selling as low as $1.50 a ton. Those desiring further formation. com obasta & by addressing the cost of retail distribution, in the profits of which the anthracite producer does not share, 11 cents & poun Burlaps. This teNo. 3 of « series on hard eval feets NEW_YORK, September 27 (Bpe- in an effore o help you decide for ANTHRACITE cial).—Burlaps are firmly held in this NEW LOW. snthracite mine prices sre 4 e Tkot, and The muarket, especialiy for ,nm MAKE feir. Wanch for futre sdvertbaments i General Policies Committee heavy weights, 18 stronger, withfsup-{ NEW YORK, September 27. — Ger- this newspaper. : plies for immediate delivery scarce. |man marks continued to make new . 437 Chestnut Street, Philadelphia low records today, preliminary quota- tions being 0.8050 to 0.812 cents each. Glass. Yesterday's close was 0.8650. W. J. Richards, President, 3. B. Keer, President, RIDGWAY, Pa., September 27 (Spe- 'Weston Dodson& Co. cial).—After & shut-down of several Phils. & Reading Coal & Iren Co. e e months, the Wilcox glass factory, at FOREIGN EXCHANGE. C. P. Huber, President, Percy C. Madeira, Presidenz, Joha Markle, Wilcox, Pa., resumed operations *his| quqtations furnished by W. B. Hibbs & Ce. Lehigh & Wilkes-Berre Coul Co. Madeirs, Hill & Co. week. Selling checks—Dollar values at noon todays IR AT Willasn Colling, Prestdent, Clothing, Pennsylvenia Coel Company : Paris NEW_ YORK, mber 37 (am Brasseis Siowiy and Drefet 10 place orders 8 lmk'ntn.r than »! orders for, garments to be up, | Athens ders from salesmen on the xoad for’ Vieana