Evening Star Newspaper, October 10, 1921, Page 20

i i CammEnne s 15N e re ees emes A TS S At T T————— T THE EVENING STAR, WASHINGTON, D. C., MONDAY, OCTOBER 10, 1921. PUTS EMBARGO ON OIL. company to pay 3,000,000 pesos on acoount of a tax claimed by the VERA CRUZ, Mexico, October 10.— |government. The refusal of the The government of the state of Vera |company to settle is said to have Crus has placed an embargo on all the properties of the big English oil company, El Aguila, a refining and selling agency. " the stock and two tank- d & tug, which had arrived re from northern ports on the Gulf o Mexico. The reason for the em- bargo is the alleged refusal of the cludes ships with the former government plant g less amount. The embargo in- s other paid-out ticket. been based on previous arrangements to pay A fire alarm bell is a gigantic cash register, and every time it rings it means that some one hus Issued an- and 5¢ Sunday The Star delivered by regular carrier to your home every evening and Sunday morning for 60 cents a month costs you about 1%% cents a day and 5 cents Sundays. Telephone Main 5000 and Delivery Will Start at Once WESTINGHOUSE Battery Service Stations L. A. O'NEILL, INC. 6th and H Sts. N.W. AUTOMOTIVE SUPPLY CO. 21st St. and Pennsylvania Ave. N.W. AUTO BATTERY SERVICE CO. 1527 M Street N.W. B. C.FURR, 7th and G Streets S.W. MARYLAND BATTERY SERVICE, INC. 1711 Kalorama Road N.W. (Twrn Of 16th St. at the French Embassy—One Block West) Westinghouse Batteries MARYLAND BATTERY SERVICE, Inc. 1711 Kalorama Road N.W. Distributors. ;improvement before {to UNEVENNESS IS THE FEATURE OF NEW ENGLAND SITUATION |Commodity Reports Cotton Men Dubious as to Sales at Prices Based on Raw Highs—Conditions Elsewhere. BY EDSON B. SMITH. Special Dispatch to The Star. BOSTON, October 10.—The feature |1of the business situation in New Eng- and is its unevenness. Conditions are improving but the return to pros- perity is painfully slow. Business men express the opinion that freight rates must come down and taxes be reduced before permanent betterment can become general. The textile mills continue active. Cotton Eoods are distinctly stronger as a result of the advance in raw cotton. Cotton men here, however, state frankly they doubt if goods can be sold the prices of which are based on the present high price of the raw material. The woolen market has shifted its attention to medium wools, especially the quarter bloods. This is a change in the situation, as a short time ago the principal demand was for the finer grades. Retail trade continues to contract. This is the natural result of a pro- tracted period of much unemployment. Buying of lumber and steel is mostly for necessary repairs and business is being taken at prices which show little profit to the sellers. No im- provement is see in shipbuilding and none is cxpected this year. Money for Frisco Building Easier Than for Some Time BY LYNN C. SIMPSO Special Dispatch to The Star. SAN FRANCISCO, October 10.—Cur- tailment of loans and shrinkage of bank deposits have characterized the Jast week in business circles in this territo Bankers say money for building is easier than for some time and in some localities building opera- (tions have become fairly active, but in general the resumption of con- struction has not met expectations, It is now feared that the building situation will not show much greater spring. There is an increase in unemploy- ment as the crop season is drawing its close, especially in the farm district. The rice flelds, however, are notable exception, as the greatest activity prevails there. There has been a slight improvement in employ- ment in the larger cities. The psychological effect of the confer- ence on unemployment in Wash- ington has been good and has helped many to get jobs, but there is little indication of a material change until business generally progresses further toward revival and money moves more freely. The prolonged oil strike in the Bakersfield district is exercising a depressing influence In many place: and its effect is felt throughout the entire state. The deadlock has cut down production heavily and prices are rising with holders slow to make sales, The dispute seems to have narrowed down to a test of endurance. Better Banking Southwest Reflects Improved Business BY JAMES R. RECORD. 5 the Associated Press. FORT WORTH, Tex., October 10.— Improvement in the business situa- tion is manifesting itself chiefly through better banking conditions throughout the =southwest. Texas banks have reduced their borrowings from the federal reserve system $11,000,000 in the last week. The bank prosperity reflects improved conditions in the farming regions and loil districts. Farmers are paying the merchants for the first time in two vears and the merchants are retiring their obligations to the country banks, which in turn are reducing their loans from the reserve centers. ©Oil has been the predominating in fluence in the last week. The price has shot up to $1.75 a barrel and there are miniature booms in prog- ress in & dozen oil towns. One or two of the newer producing fields are being hampered by lack of pipe line B: facilities, but gangs of men are put- ting pipe in place rapidly. While the tension has been relieved the for the farmers and oil men. nen of the southwest still ssimistic. The funds p disposal by the War Finance Corpo! tion have been absorbed and a meet- inz has been called here for October ~ A new paint for walls and woodwork Barreled Sunlight makes them white and washable as tile MOOTH, spotless walls—that appearance of inviting whiteness—moflern comfort demands them. Yet everyone knows how hard it is to keep walls and woodwork clean when coated with ordinary paints. dust. Barreled Sunlight is now sold in five- gallon, gallon, half- gallon, quart, pint and half-pint cans. collects dirt readily. Such paints have a rough porous surface that Washing ' removes only a small part of this. The rest it drives still deeper into the tiny pores and crevices. Barreled Sunlight is a white paint made by a special process which produces a smooth, lustrous finish that can be washed like tile. Its even surface offers no lodging place for the tiny particles of Dirt, smudges, soapy water, etc., cannot “sink in.” This paint costs less than enamel, requires fewer coats and is much easier to apply. It flows readily end leaves no brush marks. For interior woodwork throughout the house it has all the advantages and none of the disadvantages of an enamel. It remains white longer and does not give that hard, high gloss so glaring to the eyes. In hotels, apartments, restaurants, stores—all interiors where light and cleanliness are desired —use Barreled Sunlight. Comes ready mixed in cans from half-pint to five-gallon size—barrels and half-barrels. U. S. GUTTA PERCHA PAINT CO. Providence, R. L.: Barreled ‘Washington Distributors and Retallers; Hugh Reilly Co. 1334 N. Y. Ave. N.wW. assert that the industry now has turped the corner and is on the up- grade. The loans total $49,000,000. 12 to induce bankers, stockmen and farmers to subscribe to a new loan. Noon prices_repo New York-Wasl ted to The Star over direct | ngton wire by Redmond & C Produce. NEW YORK, October 10 (Special ‘The first shipments of New York cider to arrive here this season are seiling at good prices and with excellent de- rnment” & nch Government 7 From Various Sections Lumber. Kingdom of “Belgium 714, PORTLAND, Oreg., October 10 (Spe- | mand. nited Kingdom 51,1021 cial).—The rate on lumber from here to —_— nited Kingdom the crient has been raised $1 a thousand Conl United Ringdom feet from $15 to $16 by operntors of the | READING, Pa. October 10 (Spe- | ATerican Tel. and 3 United States Shipping Boards North China line. The flyur rate also was ad- vanced $1 to $7 a ton. Atchison, Topeka and clal).—Retall dealers have reduced the Atlantic Coast Line prices of anthracite coal here from 5 ce | Atlantic Refining ( 1. 60 cents to $1.05 a ton. They have S K Co. Bliw 1 ST. LOUIS, October 10 (Special).— | been able to do this because their Coul | Tiultiumr a by moli00, Lumber prices are somewhat lower and dealers are content to meet orders in the matter of price. NEW YORK, October 10 (Special).— The lumber market 13 stronger here and prices in certuin grades have advance materiaily. Better grades of yellow pine are in good demand. is carried to them from the mines which are not distant by auto truck at less than railroad freight rates. Bultimore and Olio_6s. Ealtimore and Ohio 8. W Bethlehem Stey Yurling N Chemicals. NEW YORK, October 10 (Special).— There has been a heavier volume of business lately in caustic soda and soda ash, especially for spot delivery. Caustic soda is ranging from $4.05 to $4.20 per 100 pounds, and soda ash is firm at about $2.15 per 100 pounds. BALTIMORE, ber 10 (Special). The Baltimore :nd Ohfo railroad is or- dering steel rails for maintenance pur- poses. These orders are reported as be- Sorthwe K Island and hicago Union Station 615 onsolldated Gus 7s Hides. ing against old contracts long on the| BUENOS AIRES, October 10 (Spe of (he stecl compnies, cial).—The hide market here has been slightly more active. It is reported English buyers have taken 5,000 Cam- panas and 4,000 Las Palmas steers at fair prices. Pa, October 10 (Special). ailrozel has cf a contr the repair of i, steel freight cars with the Greenville Steel Car Work: This will keep plart of the car com- runy busy for the remnainder of the year. T _ret.. hern 7y tlinois Central Internation, Infer. Rapid Louisville and Mixsouri, Kanss Missouri’ Pac New York ( Non-Ferrous Metals. NEW YORK, October 10 (Special).— It is estimated that in the last two weeks 16,000 tons of zinc have bee old. This is the equivalent of pre duction for a whole month at the pre: ent rate. shritle 7, d Texas Ist 4.. Building Materials, CLEVELAND, October 10 (Special). —Activity in building here continues, and material dealers claim prices are at the bottom and may advance short- ew York Telephone Gx. orfolk and Western wolk and Western ly. They state that despite the high e n Puacific 4s. cost nf‘frn)gm and cartage, which rd Motor Car (7 they cstimate at from 18 to 5% per! SAULT ST 1965 | cent of the total cost, brick, tile, ce- | oy RS . Mich. Octos e | ment, sand and stone are but 9 per|iron ore passing o ! - ce: P v i H - i C & through the locks e, ort; cent above the prices current in 1917, | here in September fell off move (han i five million tons from the record of eptember, 1920, the total being only 5,610,000 tons. Lumber shipments dc- BAYONNE, J., October 10 (Sp iRl The empluyen or iy {580 | creased 5.000,000 board: feet. copwer 1 emplo b fell oft 3000 ‘tons and coal, salt and = 3 E al, kalt an f wene ta warpmpany refineries her¢|onl showed minor decreases, compared PARIS BOURSE QUIE.T ! scale which shows decreases of 18 to| Wilh the same month last year. Flour.| PARIS, October 10—Trading was| £ cents s Nour from prices previous | 600" Liurroln and there wers 37.300.000 [Guiet on the bourse taday. Three ver| New ey i andard Oil Company of | more buehels of wheat carried this|cent rentes, 56 francs. Fxchange on Sentatives of employes regarding. re- | S¢Ptember than last. London, 52 france 40 centimes. - Fiv Auctions in planiies. BAST ST. LOUIS, Til. October 10 |Der cent Toan, 81 francs 45 centime (Special).—The 1llinois highway de- partment has received a bid of $24.000 « mile for one hundred miles of high- ¢ doilar was quoted at 13 francs 66 centimes Woolens. LAWRE Lawns October 10| way construction, including cement. MOSCO Specia en mill of the [ The previous avirage cost of such American any will shori- | work has been $28600 u milc. Idle W GETS EXPORT OIL. i Iy be pped to produce high-grade { workmen in this section are compet- ted Pross, | oolen goods, and expansion of theing with regular contractors in build- October 10.—Thke com- | plant for t e next two years is called | ing construction, and this has tended for by the plans. to unscitle wages in the building|™!S8ariat for forcign trade has de-| trades. cided to throw on the Jocal market DELPHIA. October 10 (Spe- |41 the kerosene oil allotted for ex- NEW YORK, atement of tw port and also to orzanize an export 10 (Sp b A base in Rig: v a ! There e e s banks In this section show i 1 Riga, Letvia, for naphtha There ig o somiewhat belter undert e o aatinEy Aaootiia S ate rroducts. The announced purpose of oy denmant hae kel allhough fac- | Xtaréh. ot /37 4 he heaviest |this decision is to avoid control of evidense s not been much dn | jihdrawals were in August, when [these products by a western Euro- . v totaled $1,800.000 over new de- | syndicate, which the commi = P . Investment purchases and |sariat alleges offered only one-scventh Shoes. home building #bsorbed a portion of [of their value for them. | SEATTLE. October 10 (Special) — | these savings. foes are stubbornly resisting the SATTLE, October 10 (Special).— ¢peral trend toward lower prices of | Charics H. 'Frye largest ‘packer in COLLECTIONS ARE BETTER. other commodities in this section. the northwest, who has just returned | NEW YORK. Octobo PRES — Trom h urviy of European condi- | NEW YORK, October 10.—Betterment | Cottons. tions, today ndvoeated the general re- | in collections, an improved indus- s . < duction of the German indemnity trial pace; a sligh e St T 73 October 10 (Spe-|{yo pest method of restoring busin, A U igh! Cecrossein 4 cial).—The Carhartt mill, No. 2. at|sreivics to Burope. pect to | cmployment and a small shrinkage in Carhartt station, C., and the Car-j,cet German compet world | the food index feature last week's re- tt mill at Elberon, Ga.. resumed | frade he we match | {views of the state of trade. operations to r Bradsireet's says: “Much wished for them in productive capacit of idleness. T for overalls. ANT ALL RS ccoler weather has come this week 10 ! ¥ ! SM. FURBS W, ED. stir hitherto lagg 1 1 f { Dry Good || s S5 o i s vither! ugging demand for | NEW YORK, October 10 (Special).— 7 | wearing apparel at retail. thus mea: e 2! |of small furs at retail during Sep- ! .. Y % i A large number of department stores i T ¢ P qurably completing the chain of im-| ‘.HP buying considerable quantities of | tember, according to a report of al .., .ment reported in ,,,glribu,w,,i women's apparel in this market at|member of the trade. increased 100 |/ 3 ) h I - -es, for the N . from producey to consumer. A ma- somewhat lower prices, for the PUr-|per cent over 14st vear. His infor-!jority of citics report this favorable pose of holding special sales i the | geathered from retail | change as livening up final distribu- was iear future. { near future. 5 | tion and also ac ch the company i ng as a slight spur in- 2 he_ business in coats. |10 buying from jobbers at the west, | Live Stock. however.” he said, “dropped substan- |south and east. The result is CHICAGO, October 10 (Special).—jtially. The volume of retail fur further slight toning up of the reports Loans from the fund to aid stock men {from wholesale Mail order trade the live {in money value was about and »w been made to|cent lexs thun last vear, and this ha 1d officials of the | been uniform throughout the coun- ance Corporation ' try Jobbing c: better also.” Dun & Co. : “With recoz- of the unfavorable feature sti'l prevail. the fact is neve s clear that business i viving gradually. Some of t rent improvement is seasonal. a 1t have - ud- . . den turn to lower temperature quick- ening retail trading, but gains also | appear which plainly not due to | tweather influences, ements in ) ¢ industries are especially impo because of their dir hearing on d * recovery in ] lumber, among other |scrves Lo strengthen sentiment. and in-| 11th and Pa. Ave. N.W. | Two splendid rooms containing 2,000 and 870 square feet floor space respectively, iced water fountain, private lavatory, freight and passenger elevators. Moderate rental. —_— e~ {Washington Stock Exchange. SALES. Washin Iway general 65—$300 at 94 TE1000 At 54T, SLOM at 94 Lanston Moiotype—20 at ! AFTER CALL. —8500 at 1023, £ | way 4n—$1.000 at 60 i 181,000 at 603, $1,00 at 6015, S1.000 a1 607, | BONDS. i il Bid and Asked Prices. { it i PUBLIC UTILITY. | | Aimerican Tel. and Tl American Tel. and Tel. and and Tel. e and _Potomac A Ches ia and Potomac guas peake und Potoms Capital Traction R R. ity and Suburban rzetown Gas lst Metropoli R. 5 Eotomac and Mt aud_ An. Gas 3 . Balto. Wasiington Washington _Gas Washington Rwy. and Wash. Kwy. and E MISCE] OFFICE A Containing 2000 Sq.ft. Washington Market Washington Marke ; WL Cold Stor | PUBLIC_UTILITIES. American Tel. and Telga.... | Capital Teaction .. { Washington Gas . Norfolk and Wash. | Wash. Rwy. and { Wash, Rw . and ntd.. NATIONAL B. Commercial District Farmers and Mechanics Federal Liberty N PRIVATE LavaTORY National § Tnion Trust | Washington Lo SAVINGS BANK East Merchant Seeurity American Arlington Corcoran Firemen's Natignal Union TITLE INSURA Columbia Title Real Estate . - MISCELLANEOUS. Columbia Graphophone com. Columbia Graphophone pfd. D. C. T Hl‘. Co. Merchants® Tranafer and Storag Morgenthaler Linotype 0ld ‘Dutch Market com 0ld Dutch Market pfd Tanston Monotype 8 Btorage . ‘Washington Market *Ex-dividend. —_— FOREIGN BONDS. Quotations furnished by W. B. Hibbs & Co. Prices at noon: . OFFICE B _ Conbaining 870 Sq & ELEVENTH STREET The above office rooms available Terlin 4s. n gov. 8. ” I Greater I & ot (u' !‘ ;% | & Tiremen 414 German gov. y w will rent se e ommmiev ) Y il as a whole or nt separately. & eman, £ Sa.0 8 Dresden 4s. a3 Bad. Aniline 415s 121 Dresden 4145 AL Ei. Ges. 4ijs 12 Duesseldorf 4. Ee . 49 Apply Room 101 STAR BUILDING Main 5000 French 5s. .80 French Prem. 5s. 703 British Vic. 4s..802 Nat. war loan 55.897 Frankfurt 4s. - TODAY’S BOND PRICES. 1the first sale of a small bond at 94, !plished at the expense of maintenanc Seaboard Air Line rofde. S v Line adj Southern I Southern 1 outhern ¥ on Pacifl: Unfon Pacific cany T'nion Parific 6. 143 nited Ntatex ted Staton United States Hteel S, Vac Oil Corp. Virginia-Carolina Chy Western Union 6154 Wilson & Co. Int T 58 Rubher SHORT-TERM § (Ieported by Recmond & Co.) Bid. Asked ouiy 05y American T P N American 971, AT America D0y 101 Amertcan T 1011 1013, Annconds 0% w10 102%, 100 Copper Canper Export Copper « ott Copper 7s & Myers 6s 1 er & Gamhle Procter & Gamb) Jis Southern Railwa Southwestern UTILITY BONDS IN BETTER DEMAND Higher Prices on Railway Bonds—Stocks Are Slow. Oils Advance. BY I A. FLEMING. The feature of today's session the Washington Stock Exchange was the strength displayed in the 4 per cent bonds of the Washington Rail- way and Electric and a more com-] fortable fecling in Lanston Monoty p. shares. The general s of the Washington Railway and Electric Company de- veloped a firmer feeling, and after] of closed strong at 943 6012 and then 6 . The 4s brough! s with 61 asked ar shington Gas per cent note were in demand at 1023, The only in the stock list wa of Lunston, und the price, 7 indi- cated more than a point advance. Director Elected. Carden ding_in ted a d Dr. 1as been has the Northwes ptember Earnings. ix expected that the earnings o ailroads for the mouth of Sep tember will show a material increase of August, just as the A s improved over those of riy estimates of six of the leadinz systems in widely separated scetions of the country compare favorably. . Baltimore and Ohio’s net o incom 000 August ay 1 10 show §2. t2ainst $618,4 me month 1920, fissouri Pacific's net is estimated 100,000, ed wilh $458,750 the =ame month 1920, w York Central for September will probably show $5,000,000 net in- 000 greater than a yea . Louiz and San Francisco wiil, ac cordinz to best estimates, about hold its own These carnings are in themselve: satisfactory, but they would mea mote if the increases and much of the net showings had not been accom- and upkeep. If the railroads could show th nings reported and at the sam e keep equipment and roadbed ir od condition they would be on th. h ruad to prosperit nces in oils all ove: have demonstrated hange of front, and from : pproaching a plight in the vil interests are talking o pinch” in two years. Guli ast crude has been advanced 2 cents a barrel, with Humble Qil fol lowing snit. _Standard Oil of Louisiana has adde 5 cents to all grades of crude, an ns are noted the country over. Low-grade oil shares featured th sesgion of the New York Stock Ex change today. Bank Clearings Decrease. Bank clearings in the chief cities continue to show large decreases ovey !llfi corresponding days of Jasi. year, These do not bear out the enthusi astic reports of trade revival, Thus the clearings of the o W York October 5, were $185. 2 less than for the same date in the sume comparison and o: the same date, Chicago clearings d» creased $20.554.937; St Louis, $18 018; Thiladelphia’ and Boston creased over nine millions each a Baltimore $6.356.846. Interreserve Borrowing. A year ago the reserve banks wer indebted to loans made hy other re ional banks for $223.467.000. toda these Toans are down to $48.521. Minneapolis is no longer a horrow er. Dallas, Richmond and Atlanta the cotton banks, are finding assist ance from other reserve banks need ed in their line of business. —_— OIL STOCKS. Quotations furnished by W. B. Hibhs & (o s at noon Bid. Asked American Ol Co 6y Rorne-Scrymser Co. Buc country complete condition ness, (new)... Crescent Cumberland Pipe Line ne Line. .. alena-Signal Oil alenn-8ignal Ol Co. pfd.. . B0 Tilinols Pipe Lina D160 Indinna Pipo Line ¢ .t w_ York Transportation Co. ] 148 1 orthern Pipe Line Co. . Ohio OIl Co. Prairie 0l and Prairie Pipe Line Co. Bolar Refining Co.. Southern Pipe Line South Penn_ Ol Co. Penn. Pl “o.” Californi &tandard Oil ¢ Rtandard Ol C¢ Standard 0il C: Standard Oil ( Standard 0¥l ¢ Swan & Finch Ca. Unfon Tauk Line ¢ Vacuum 011 A Washington O ol 200 : —_— FOREIGN HANGE. Quotations furnished by W. B. Hibbs & 0. Belling checks—Dollar values at noon roday LondSn i