Evening Star Newspaper, November 12, 1921, Page 23

- STOCKSAREFIRM 5= /| ONLIGHT TRADING (5., e \ ) Equipments, Oils and Inde- pendent Steels Show Best Strength of Day. BY STUART P. WEST. NEW YORK, November 12.—The Stook market began this morning ‘Wwhere it left off Thursday, with the Bame confident buying and the same strong impulse toward higher prices. Such selling as was incident to the closing out of traders’ contracts over the week end was readily absorbed. The representative industrial stocks ‘went through their previous high prices. There was special strength in the equipments, in American oils, in some of the independent steels and in & variety of specialties llke American Linseed, common and preferred; the Central Leathers and Haskell and Barket. 4 Investment stocks were in demand @gain with American Telephone and 2 number of the preferred industrials 8oing still higher. The cotton market went lower again, ‘but wheat prices mended somewhat. Nothing of consequence happened in the foreign exchange, although this is the quarter which ought to show far more than the stock market any Tesults anticipated from the Wash- Angton conference. [ The high prices were reached, as a | ruie, In the first hour, but while not gaining any further ground in the later dealings. the market held its own consistently. Standard oils were firm, the New Tersey shares making a good gain. —_— COTTON MARKETS. NEW YORK, November 12.—The cotton market showed renewed weak- ness at the opening today owing to the decline in Liverpool and the con- tinuation of the selling movement ‘which had been started by the unex- pectedly heavy ginning to November 1. Rather less favorable reports from the goods trade probably contributed to the opening decline of 2 to 29 points which carried Janpary contracts down 1o 16.40 and March to 16.32 or about 24 to 30 points below Thursday's clos- ing. There was some fresh buying as ‘well as a good deal of covering for over the week and below the 161;-cent Jevel, however, and 15 or 20 points of the opening losses were recovered. The moderate demand in evidence around the 16%-cent level for January ‘was soon suppplied. The market was ‘weak later, selling off to 16.08 for January and 16.10 for March. The Close was easy at a net decline of 30 to 84 points. Futures opened easy: December, January, 16.45; March, 16.35; 16. May 16.25: July, 15.94. NEW YORK, November 12.—Cotto; futures closed easy: December, 16.1 January, 16:08; March, 16.1 16.05; July, 15.70. Spot, qulét, middling, 16.70. NEW ORLEANS, November 12.— The poor showing of Liverpool yes- terday put the price of cotton lower here on the opening today, but & ®ood demand sprang up as the mar- ket declined and fairly good recov- eries ensued. The first decline ca ried the list 20 to 31 points under the close of Thursday, but at the end of the first half hour of trading rices were only 5 to 10 points down. Becomber traded down to 15.75 and recovered to 15.95. Reports that spinners were calling cotton here and of trade buying of contracts were the main supporting influences. Futures opened steady—December, 15.75; January. 15.90; March, 15.75; May, 15.70; July, 15.42. LIVERPOOL, November 12.—Week- ly statistics: Imports, 87,000 bales: ‘American, 79,000 bales; stock, 915,000 bales; American, 559,000 bales; for- warded, 60,000 bales; American, 43,000 bales; exports, 4,000 bales; American, 1,000 bales; sales, 23,000 bales; Amer- ican, 16,000 bales. OILS LEAD ON CURB. NEW YORK, November 12.—Price movements menerally were irregular on the curb exchange today. Com- mission house business was smaller than heretofore, and the trading ele- ment confined its activities mainly to the low-priced shares. The oil stocks were again the leaders. Continued good outside buying was in evidence in Standard Oil of Indiana and it touched another new high record. There was also a fair demand for Ohlo Oil and Prairie Pipe Line. City Service Issues wer eheavy, especially the old common. Acme Packing came to life in the miscellaneous group and was firm with dealings larger than in some time. Profit-taking was noted in Texas Gulf, which was slightly easier. The coal stocks generally were quiet May, es in the mining issues were cOMRB®Ad within small limits. Deal- ings. especially in the low-priced shares were fairly large. ‘Bonds continued steady to firm, al- though there were Indications of prefit-taking in some issues. TOBACCO MARKET ACTIVE. JYNCHBURG, Va.,, November 12.— Tebacco sales here during the past saw farmers get an average 20 for dark leaf, despite much on stuff in the breaks. Good ° < es, which were in very active d d sold up to $75, the general trend of_the market being at un- hi of prices, considering the steck offered. The sales for the week aggregated 553,600 pounds, the mar- kfih“’ng slightly lighter than had b antiscipated. Conditions of wesather are such that the sales will rule heavy again next week. —_— BAR SILVER QUOTATIONS. NEW YORK, November 12.— For- F elln bar silver, 663; Mexican dollars, | Ath LONDON, November 12.—Bar silver, 88% pence per ounce. Money, 2% per cent. Discount rates, short bills, 3% per cent; 3 months’ bills, 3%a3 16-16 per cen! LINE NEAR COMPLETION. JUNEAU, Alaska, November 12.— &n:nuon by the end of this year of track laying on the rallroad the gov- ernment is building in_ Alaska was predicted by Gov. Scott C. Bone on his return here recently from an inspec- tlon trip over & portion of the line. COFFEE MARKET STEADY. NEW YORK, November 12.—Coffes —Rio No. 7, 8 13-16; futures steady; December, 8.35; May, 7.82. 3] CURITY MARKETS CONTINUE 'TO REFLECT BIG EXPANSION New High Average for the " Year on Crest of Investment Buying. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, November 12.—This has been too short a business week to bring much change in the financial situation. But a further demonstra- tion of a very convincing sort has been given of the changed conditions in the security markets. Bonds, on the crest of another great wave of investment buying, have made a new high average for the year. Invest- ment stocks have come in for similar attention and have moved forward swiftly. Finally—and this was not the case a week ago—the movement has spread to the speculative list and there has been a large expansion in the volume of business and a very general and considerable rise in prices. As has been pointed out often enough before the investment part of the market is adjusting itself to a falling interest rate and to the in- creased purchasing power of the dol- lar derived from the decline in com- modity prices. ‘The whole money market is gettin { back to a peace basis and the bon { market eventually, beyond much | doubt, will return to the level where 1 it stood previous to August, 1914. This would mean investment securities selling at prices to return 5% to 6 per cent for the higher grades. We are still some distance off from this position, although the recovery since June has traversed from a half to two-thirds of the entire ground lost during the war. Rampant Speculation Absent. It would be going too far to predict any great or sustained revival just at this time. The public temper is against such a movement until business re- cuperation is farther along and its eftects begin to be felt. The public has been doing little or nothing in the market all through the ten to twenty polnt advance since the 1st of | September. The principal buying, as 1noted before, has been coming from large capitalists and syndicates of one gort or another and has been in the nature of replacing speculative lines liquidated a year and two yvears ago. This reaccumulation started when there was definite proof that trade had turned the corner. It has been slowly following the market up, encouraged by the continued improve- ment at the manufacturing centers and by the return to normal in bank- Grain, Produce LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, per dos., 66; average receipts, 64. Live poultry—Roosters, per 1b., 18; turkeys, per 1b, 38a40; chickens, spring, per lb., 28a30; hens, per Ib., 25a26; keats, young, each, 35a60. Dressed poultry—Fresh killed spring chickens, per Ib., 30a32; hens, per lb., 28; roosters, per lb.,, 22; turkeys, per 1b., 40a45; keats, young, each, 60a75. Pork—Dressed, small, per Ib., 12a12%. Live stock—Calves, choice, per lb., 123%%a13; lambs, choice, per 1b., 834a9 live hogs, 8%. L4 Green fruits—Apples, per bbl, 6.00a 11.00; per bus. basket, 2.50a3.25; west- ern, per box, 2.50a4. California lemons, per box, 3.00a3.50. California oranges, per crate, 6.50a7.50. Grape- fruit, 4.00a4.50. Florida oranges, 4.00 a5.5 Vegetables—Potatoes, new, per bbl, 3.00a3.75; per sac sSweet potatoes, per bbl, 2. Lettuce, nearby, per crate, North Carolina, per crate, 75al.50. Celery, per doz., 75a1.00. Romaine let- tuce, 1.25a2.00. Cymblings, per crate, 2.0083.00. Spinach, per bbl., 2.00a2.50. Onions, per 100-1b. sack. b .00, C: bage, 2. .75 per bbl. Cucumbers, 5.0025.50. Eggplants, per crate, 3.00a 4.00. Tomatoes, per box, 2.00a7.00. Beans, 1.50a3.00 per basket. Lima beans, 60a65 per qt. Bprouts, 15a 25 per qt. DAIRY MARKETS. BALTIMORE November 12 (Spe- cial).—Chickens, alive, young, pound, 25a26; poor and white Leghorns, 20a 24; old hens, 23a26; small and white Leghorns, 20a22; old roosters, 15a16; ducks, 20a27; geese, 22a30: turkeys, 32a40; pigeons, pair, 35a40; guinea fowl, each, 40a80. Poultry, dressed—Turkeys, pound, 33a43; chickens, young, 26a28; old, 25a27; old roosters, 17al18; ducks, 25a 28; geese, 25a30. Eggs—Receipts of native and near- by strictly fresh eggs are very light and while the market is quoted at 60 cents a dozen this price is purely nominal, as choice stock will bring 65; southern, 58. Butter—Creamery, fancy, pound, 46a47; prints, 47a49; nearby creamery, 42a43; ladles, 30a32; rolls, 28230 store packed, 27a28; dairy prints, 23a 30; process butter, 35a36. CHICAGO LIVE STOCK MARKET. CHICAGO, November 12 (United State bureau of markets).—Cattle, re- ceipts, 1,000 head. Compared with a week 8g0, good and choice light and medium steers and yearlings, 25 to 40 lower; short fed and heavy steers, 50 to 75 lower; common grassers and westerns, 25 lower; fat she stock, 25 to 40 lower; bulls, canners and cut- ters, mostly 25 lower; veal calves mostly 2.00 lower; heavy calves, 50 to 75 off; stockers and feeders, 25 tos0 ower. . —_— FOREIGN EXCHANGE. Selling checks—doliar values at noon today. By the Associated Press. NEW YORK, November 12.—Foreign exchange irregular. Great Britain, de- mand, 3.94%; cables, 3.945; sixty-day bills on banks, 3.91%. France, gemlnd. 7.24%; cables, 7.25. 4.09%; cables, 4.10. 6.913%; cables, 6.92. .35%; cables, 35%. 34.65; cables, 347 1412] Sweden, demand, 23.00. mark, demand, 18.55. Switzer] mand, 18.92. Spain, demand, Greece, demand, 4.20. Argentine, de- mand, 32.75. Braaill, demand, 12.87. Montreal, 91%. —— WEEK’S BANK CLEARINGS. ‘W YORK, November 12.—Brad- !l!"ilsct.'a ‘Weekly Bank Clearings an- nounced today $6,109,786,00 nd, de- 13.76. Evening é’;gunday Star 60c 2 Month Delivered by Regular Carrier CALL MAIN 5000 and the service will start AT ONCE ing and money conditlos. The whole movement of the last two months has been a re-purchasing of stocks sold higher up rather than new buying in anticipation of an im- mediate large advance. Wall street has full confidence in the future, but it believes that the pace of business recovery will be slow, that it will take a long time for the agricultural interests to get back to their accus tomed buying power, and a still long- ér time for the forelgn markets to re- turn to anything like normal. For these reasons there can be no rapld expansion in trade. The expectation is that 1922 will be a year of fair but moderate profits. Consequently, while there is ground for looking forward to further improvement on the stock exchange, any b'g splurge of specula- tion would be quite out of place. Fluctuation of Exchange. The German financial problem has become more acute than ever in the light of the latest figures of the Reichsbank, which showed that the expedient of inflating paper note issues, in order to meet the indemnity and other demands, was again being resorted to on a colossal scale. In consequence, the value of the mark continued to shrink, despite further reports that Germany is negotiating a forelgn loan. German investors, meanwhile, having first exchanged their marks for securities, are now taking advantage of the enormous advance in the latter to liquidate, and put their profits into the more stable fleld of foreign exchange. The re- sult is that, while German rates keep on slumping, the dollar, the pound sterling, the Dutch guilder and the various Scandinavian moneys are constantly tending upward. The cotton trade has been pro- foundly shocked by the discovery in the latest ginning flgures that esti- mates based upon the last govern- ment report had placed the new crop at least 500,000, and possibly as much as a million bales under what it actually was. ‘What further adjustment the cot- ton market will have to make to these revised indications remains to be seen. But in the meantime the bulk of the harvest has found its way to market and the southern growers have reaped the benetit of the high prices. They are not nearly as much concerned, therefore, as they would have been two months ago with developments making for a lower market. (Copyright, 1921.) and Live Stock GRAIN AND PROVISIONS. BALTIMORE, November 12 gial).—Potatoes—New. 100 1bs., 1.758 2.25; No. 2, 1.00al.25; sweets and yams, bbl., 2.50a3.50; No. 2, 1.50a1.75: bushels, 75al1.15. Beans,, bushel, 2.00 (Spe- a2.50. Beets, bunch, 3a4. Brocoli, bushel, 25a30. Bruesels sprouts, qt.. 20a25. Cabbage, ton, 15.00235.00. rots, bunch, Caulifiower, 003 Celery, doz, 40a75; icumbers, crate, 2.50a3400. bushel, 3.50a4.00. Let- !ll[(jg, blllh: , 25a1.0 ima beans, . .50. Onjons, 100 1bg. 60,8 03;-::'2- plants, bunch, 66a7. Parsnips, bush.el, 5a85. Peas, hamper, 3.50a4.00. Pep- Sacn, alz g bbage. basher ch, . Savoy cal 3 N 50a60. Spinacl Fa ;‘uer- bushel, 75a85. n(AnB. xbushel, 9 00. pples—Packed, bbl., 6.00a8.00; No. 2, 4.00a5.00; bushel, 1.50a2.50; bo“x apples, 024.00. Cranberries, bbl., 11(.)DOE19.0 i rapes. basket, 32a35. grapefrult, box, 2.5024.00. Oranges, box: 2.5034.00. Pineapples, crate, 4.5087.00. Selling Prices at Noon. Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 118k No :b:i"“fi%‘:{ 2 red winter, 3 ., 1.10%; November wheat, 1.10%; December, 1.11%. Sales—Bag’ lots of nearby by sam- ple, at 1.00 per bushel. Corn—Cob corn, old, yellow, quoted at 2.45 and 2.50 per barrel for de- ferred shipment. Contract corn, spot, 55%; track corn, yellow, No. 2 or bet- ter, old, domestic, 63. Sales none. Rye—Nearby, 75280 per bushel; No. 2 western export, spot, 87 nominal per bushel; No. 3, no quotation. Hay—Receipts, 27 tons; demand Is limited and small receipts ample for trade requirements 2t 16.00 to 2100, e, No. 2. el H No. 3, 40841 per bushep.” P°r bushel: Stra; . 1 straight rye, nominal; ht rye, nominal; No. No. 1 oat, 14.50a15.00. Low Supply and Drought Cause Wheat Upturns CHICAGO, November 12.—Sharp cur- tailment of recelipts, together with drought in the southwest, have done 2 good deal this week to bring about upturns in the value of wheat. Com- pared with a week ago, the wheat market this morning. owed 3% to 3% advance, corn varied from igay ‘l)fl‘l:fio z?) ulv“ Ol?.; warll.‘! gains of and provision, 27 to 1.00. L 4 idown Arrivals of wheat at all primary points were much smaller than a year ago, and it was predicted that total primary receipts for the week would hardly exceed 6,000,000 bushels, whereas recent totals have been 9,000,000 to 10,000,000. Bulls seemed dlsp'o!g :u m]nko !:!lll:l)h also of re- ports that prolonge weather in Kansas, Oklahoma and ;"exu was do- ing serious harm to the winter crop. Other factors which helped to lift prices were frost reports from Ar- gentina and indications that Japan and India had been buying wheat on a large scale, although chiefly from Canada and Australia. Holland and Sweden were said meanwhile to have taken some United States bread- stuffs. Subsequently, however, part of the advance in wheat prices disap- peared owing in the main to official announcement that domestic farm re- serves of corn are the biggest ever known. Country offerings of corn were sald to have increased to a material ex- tent after the government report con- firming & record-breaking reserve supply on farms. Oats were less thus affected. Heavy receipts of hogs forced down provisions. BUSINESS AND INDUSTRY SHOW GAIN IN OCTOBER Department of Commerce Survey Reports Change for Better in Unemployment. Business and industry show declded signs of improvement during Octo- ber, it is shown in the current sur- vey of business announced today by the Department of Commerce. A careful study of conditions as repre- sented in the survey, the department announced, shows t, considered as business and industry have moved forward In the majority of industries production and consump- tion increased and stocks declined. Iron and steel showed a sf gain and the building industry indicated improvement, & surve showed, | while textile consumption figures con- tinued to advance and exports of raw eotton were substantislly larger than a year ago. The unemployment prob- the survey of the department showed, Indicated a decided change for the better. The region about the Dead sea It of the hottest piaces on the globe and the sea loses many tons of wate: & day by evapsration. 4 ULSTER MAY MAKE Rejection of Government Plan in Ireland Disappoints, But Door Still Open. By the Associated Press, LONDON, November 12.—Although one or two newspapers express graye disapointment at the Ulster cabinet's rejection of the government's plan for a settlement of the Irish ques- tion, the London Press this morning generally sees no reason to regard the situation as more serious or hope for & mettlement as being lessened. It is pointed out that, while the Ulsterites rejected the proposals on the ground that they contained funda- mental " principles which were “im- possible of attainment” under exist- ing conditions, they had also signi- tied their intentlon of making counter proposals which would “indicate other and more practicable means of securing peace without Infringing upon rights of Ulster.” Sume of the correspondents say the Ulster reply was exactly what was expected and that it nowlse implies that Sir James Graig and his col- leagues mean to slam the door to fur- ther negotiations. They recall that it took a long time to bring the Sinn Fein into conference with the gov- ernment, and that they also raised objections and took {rreconcilable at- titude, but that the difficulties in their case had been overcome and the same might be hof »a in Ulster's case. The Times looks uyen the Ulster de- cision to make cownter proposals as a step forward, snd the Westminster Gaaette say= it 's proof that the Ulsterites a1é willing to continue the negotiatiors. VISITOR TO CITY DIES ON WAY TO HOSPITAL John J. La Ferme of Cleveland Had Blamed Gasoline Fumes for Ill- ness While Motoring. John J. La Ferme, thought to be about fifty years old, who resided at 4916 St. Clair street, Cleveland, Ohio, and was managing sales promoter for the firm of W. H. Bonfield & Son, ma- chinery manufacturers, in Toronto, Canada, dled in an automobile while being taken to Emergency Hospital last night. Earlier in the night, while motoring in Potomac Park, La Ferme complain- ed that he felt sick, blaming gasoline fumes for his sickness. Two women were in the car with him at the time, and remained with him until he start- ed from in front of the Washington Hotel, where he was a guest, 10 g0 to the hospital. When the car reached Massachu- setts avenue and 10th street, Mr. La Ferme ordered another automobile, and on his way to the hotel, the chauf- feur said, the sick man became faint. When the front of the hotel was reached he decided to go to the hos- pital immediately. The two companions of the Ohio man left the automobile in front of the hotel and returned to their homes. Detective B. W. Thompson participat- ed in an investigation of La Ferme's death. A police chauffeur tested the Ohio man's automobile, and reported that the gasoline fumes in it made it almost impossible for him to remain in it. ‘When the clothing of the dead man was searched at the hospital his pockets were found to contain approx- imately $10,000 worth of steel stock certificates and about $100 in cash. He also had several pieces of jewelry on his person. Dr. Herbert E. Martyn, deputy coro- ner, performed an autopsy on the body at the morgue today and reported death resulted from an attack of heart disease, superinduced by an acute attack of pneumonia and sev- eral other allments. Coroner Nevitt gave a certificate of death from natu- ral causes. Relatives of the deceased were notified. CUT IN FREIGHT RATES BY RAILWAYS TAKEN UP Initial Move Made Following Re- quest for 10 Per Cent Reduction of” Employes’ Wages. The initial move of the rallroads in their avowed intention for scale-down freight rates following a request for a 10 per cent reduction in wages of rail- road employes, made two weeks ago to :.lhe Rallroad Labor Board, was made to- ay. A committee representing the Asso- ciation of Railway Executives, headed by T. De Witt Cuyler, chairman of the association, met “with the Interstate Commerce Commission this afternoon to discuss reduction in freight rates. The rall executives committee, it was understood, was prepared to announce its willingness to ask for a general reduction in freight rates approximating the 10 per cent reduction in wages asked of the Railroad Labor Board. The move made today by the execu- tives was the first since the break-up of the threatened nation-wide railroad strike more than two weeks ago. Any reduction in freight rates, it was understood today, will be less on a percentage basis than the cut in wages, which is expected to be or- dered by the Rallroad Labor Board. ‘This slight decrease in rate reduc- tions over the expected wage reduc- tions is due to the t, it was said by those in close touch with the sit- uation, to be due to the faot that freight earnings are In excess of the total amount paid by the railroads in wages. . DEMOCRATS MILITANT. Chairman Hull Expresses Gratifica- tion Over Election Results. The democratic party’s spirit “Is still militant,” and results of Tuesday's 2lections prove it, Chairman Cordell Hull of the democratic national com- mittee said in a statement Wednesday, which follows: “Fighting democrats who captured numerous republican outposts in Tuesday’s elections have glven evi- dence that the spirit of the party is still militant. Although this was not a genera] election, a conservative in- terpretation of the elections held in- dicates that the people are far enough away from the mist and con- fusion of war conditions and influ- ences to see the merits of democratic administration, to realize the great penefits 8o generally enjoyed there- under; to see and become convinced of the increasing demerits of the pres- ent republican administration and to realize that the comprehensive pro- gram of reconstruction proposed by he democratic administration follow- ing armistice was obstructed and its chief measure defeated by a re- publican Congress, during 1919 ana 1920, with the dlsastrous results to business which have inevitably fol- lowed. They indicate a genernl trend trom the republican party, including sections long under re}aubllun rule. “Apart from the gratifying outcome in Virginia, Kentucky, Maryland and other localities and the tremendous victory in Greater New York, the re- sults in upstate New York citl Bridgeport, Coni following recent iemocratic victories in other Con- aecticut towns, are particularly grati- ying beoause they have been strong- ao0lds of reactionary republicanism. “The democratio victories of Tues- iay will Inspire democrats every- where to renewed efforts, with in- reasing expectations of success.” —_— .. The price of African wives has in- classy one costs §5.50. A e EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 12, 1921-PART 2.~ FORESEE GLUT OF CASH IN U. S. BY Financiers MIDDLE OF NEXT JANUARY | WANT ADS. COUNTER PROPOSAL . e | Expect That Call Money Will Be Available Then at 3 Per Cenf—Trade Brightens. Special Dispateh to The Star, NEW YORK, November 12.—There will be & glut of money in the United States by the middle of next January. Leading financiers declared today that they expected that by that time call money would be a vaflable at 3 per cent. This plethora of money avall- able for loans by the banks and trust companies will result, bankers de- clare, from the liquidation of so- called frozen credits and from infla- tion of the currency during the war years, which has not yet been con- iracted. Business men all over the country are paying off their loans, establish- ing themselves on a firm credit basis. This is clearly indicated by business dispatches recelved from various sec- tions within the last twenty-four hours. Money will be available for commercial and industrial enterprises on easy terms. Even now the neces- sity for and the practice of hand-to- mouth buying is passing, but the United States still faces the danger of hand-to-mouth production. In nearly every Mne of industry, stocks on hand are far below normal. Production also is far below normal. But the general tone of bueiness is limproving and that improvement is gathering momentum each day. De- mand shortly will be far in advance of the ability to supply it from present stocks. A grave danger exists that before various industries could speed up production sufficiently to meet de- mand, a shortage will develop w!glch would again send prices rocketing, place articles out of reach of the average buyer and bring about fur- ther stagnation of trade and indus- trial complications. Safeguard for Business. A general and comprehensive re- sumption of production, therefore, not only I8 the part of wisdom for all who are able to resume, but is an es- sentlal safeguard for business pros- perity in the jmmediate future. In urging such a policy upon the pro- ducers of hardwood lumber, W. L. Ritter of Columbus, Ohjo, former presidént of the Hardwood Lumber Manufacturers’ Association, outlined the situation clearly as follows: “If the hardwood manufacturers do not do everything in their pdwer to have sufficient lumber to adequately supply a normal demand, it will be most unfortunate. If there should be a shortage it will be the manufuc- turers who will suffer most and hard- t. One effect would be market in- bilit period of skyrocketing S -which would be injurious to e best interests of producers, for it would tend to a policy of getting all the trafic would bear, which is not a sound policy. Wise Labor Pollcy. “A wise policy of production must necessarily involve a wise policy in respect to labor. Just as it is detri- mental for lumber prices to go too high, 5o, too. it is destructive for wages to go too low. A fair and just policy toward labor should avoid wage scales based too much on unem- ployment conditions or the necessi- ties of labor. A fair and liberal policy is_the part of wisdom. “In view of the condition regarding present stocks, production and future prospects 1 would like to urge a prompt and general and widespread resumption and accentuation of pro- duction based on_firm faith in future tions with a view to getting s up (o normal volume as promptly as possible and the adoption of a policy designed to prevent ex- cessive price inflations such as were experienced under the influence of the ‘auction market’ of late 1919 and early 1920." Normal Production Urged. Mr. Ritter indicated his bellef In his own teachings by ordering each of his sixteen mills to get back to normal production as soon as pos- sible. The situation outlined by Mr. Ritter In connection with hardwood lumber is equally applicable to every other line of production. The days of buying for immediate needs only are passing swiftly, but unless there is also a cessation of production for immediate needs only, the return to normal business prosperity may be still further delayed. In the meantime, merchants are Jeounting on a sane and profitable holiday business which in many in- stances is expected to solidify profits and turn what has been an indiffer- ent year intoa fairly satisfactory one. Commodity Reports i From Various Sections' Lumber. i IRON MOUNTAIN, November 12 (Special).—The Ivor Anderson Log- | ging Company hus gold 10,000,000 feet - of logs to the Michigan Iron and Land Company, a subsidiary of the Ford Motor Company. The logs will be sawed at the Ford mills here. Farniture. | YORK, November 12 (Spe-| cial).—Many of the larger furniture manufacturers in this section report their lines sold up for the season. Dealers anticipate no further drop in prices at present. NEW Coal SEATTLE, November 12 (Special). —Sixteen thousand tons of British Columbia coal a2 month is coming into this market. This coal wholesales at $1 « ton less than last winter. The price now is $7. to $11, according to grade. Seven shiploads of Welsh coal are on the way through the Panama canal to the Pacifice coast ports on consignment. KANSAS CITY, November 12 (Spe- cial). dealers predict that the prices which will rule for the Thanksgiving turkey will be 45 to 50 cents a pound. The number of | birds grown this season is about cqual to the total of last year. The quality, however, would have been improved by colder weather. RO, Tex., November 12 (Spe- 1 The pouitry men in this sec- tion are shipping 205,000 turkeys to | market this season. The valuc of the movement is estimated at about $1,- 000,004, or an average of $4.85 for each bird. cial). Steel. PITTSBURGH, November 12 (Spe- clal).—The Carnegie Steel Company Is rapidly pushing operations clog-r to normal. It is now employing 5,600 out of a normal force of 6,800 men. The company is preparing two additional blast furnaces for iron pro- duction. ST. LOUIS, November 12 (Special). —There is much more optimistic feel- ing prevalent in the iron and steel industry in this territory. Demand is increasing and local stocks are be- ing rapidly depleted BUFFALO, 12.—Add!- tional employment will be provided for the workers of Buffalo Monday, |When the car repair shops formerly operated by the New York Central railroad resume activity. The plants have been leased to William J. Con- nors, who will operate them on rail- road repair work. The shops have been idle for many months. About 2,000 men are employed when they are in full operation. ~The leasing of the Buffalo shops follows the prece- dent inaugurated some months ago at Marion, Ohio, where private interests took over the railroad shops. Rail- way shopmen protested this policy, declaring its purpose was to avoid jurisdiction of the Railroad Labor B’oard on wages and working condi- tions. ASKS $5,225,000 FOR ROAD Southern’s Plans for Extension Be- fore I. C. C. The Southern Raflway Company asked permission of the Interstate Commerce Commission today to issue $5,225,000 in 4 per cent bonds. The| application stated that of that amount ' the company intends to use $5,000,000 for general improvements and exten- sions of its lines. FINANCE AND TRADE NOTES. With 20,000 bunches of bananas and 2,000 sacks of cocoanuts, the steamer Bella from Jamaica is at Baltimore, making a total of 432,000 bunches of bananas brought here in nineteen trips by Capt. Hiorth since he took command in February. American Cotton Oll Company definitely turned the corner, After two years of depression unprecedent- ed in a corporate career of thirty-two years the company is once more doing business on a profitable basis. Governors voted to close the stock exchange Friday, November 11, Armistice day. Mexican Pete has drilled in its Cerro_Azul No. 8 well on the Cerro Azul-Toteco border. Production of this new well s estimated at much better than 100,000 barrels a day. Standard Oil of Indiana has ad. vanced the price of gasoline 1% cents a gallon. The Illinois Central has ordered 650 refrigerator cars from Haskell & Barker Company, and 350 from the General American Tank Car Company at an aggregate cost of $2,660,000, and has invited bids for 2,000 coal cars at a cost of $4,000,000. Sinclair Crude Oil advanced the price of Healdton crude oil 50 cents, making ber 7. Ford Motor Company shortly will commence g series of additions to its factories to_relieve unemployment, Edsel Ford, president, reports. With the advance in North Texas crude ofl to $2.25 a barrel, interest on guaranteed ' and participation bonds of United Oll Producers, a sub- sidiary of the Imperial and Middle States Oil, now is on a basis of 20% per cent. ‘World's production of crude ofl in 1920 amounted to 694,854,000 barrels, an increase of more than 40,000,000 barrels over 1919. 3 INCREASE IN EMPLOYMENT. CHICAGO, November 12.—Report of the Illinois free employment service for October, today, indicates a con- siderable revival In business during that month. There were 21,536 per- eons looking for work In Septem- ber at the fourteen offices in the state, nd 21,888 in October, with 11,025 and 18,084 jobs available in these respec- tive months. —— BONDS ARE OVERSUBSCRIBED. NEW YORK, November 12.—The of- fering of $27,600,000 of the Goodyear Tire and Rubber Company’s ten-year 8 per cent sinking fund gold deben- ture bonds at 993% and interest by a syndicate here was heavily oversub- scribed. The issue was sold 8C per cent firm to dealers and the allot- ments on the balance of it of $5,500,- 000 are expected to be less than 10 per cent, indicating that the sub-| ased.from $5 to $6, and an extra |scriptions to the issue were more 370.000.090. d gfi }"fi,’ ("an h. b,“.res_ :hlnkrupl:clea and business conditions for Standar of ulsiana has poste e week discloses a d new prices for North Louisiana and |cent in the number of 731?;2 %‘vezl? lg:: Arkansas crude ofl, effective Novem-|week, with a substantial increase in the BALTIMORE EMPLOYMENT. cluding loss in shipyard workers in last five months, other industries here have gained 1,292 employes, according to survey just completed by the board of trade. In the survey about 72 per cent of the employers in‘their re- spective classes were included. and the same employers were asked for reports as those used in surveys made in February and May of this year. The shipyards show a loss of 7,797 workers since May. The loss since February in all lines, including ship- yards, was 8,830, although the ship- yards at that time laid off 11,300 men, while other classes of industry have absorbed practically 2,600 more per- sons. . A survey on retail food prices throughout the country also was made by the industrial bureau of the board of trade here, with the result that food prices in Baltimore were found to be lower than those in fifty- one other leading citles, with the single exception of Louisville. AGAINST TAX INCREASE. CHICAGO, November 12.—A protest against the great increase in “the nor- mal income tax rate as applied 10 public utilities,” was embodi=a in resolutions adopted at the third an- nual convention of the American Gas Association, In session here. Stand ardizstion of gas rates throughout the country was recommended by the rate structure committee, Samuel §, Wyer, consulting engineer of Colum- bus, Ohio, addressed the convention, —_— FAILURES DECREASE. NEW YORK, November 12.—The Credit Guide analysis of commercial liabilities of the suspended business conditions Show s mankced a provement. There were 380 business failures during the week, showing a de- crease of 128 from the 508 suspensions of last week, which was the highest during the year. This compares with 256 failures in the correspondi K 26 Ghllures sponding week PLAN SPECULATION CURB. BERLIN, November 12.—The gov- ernment bill planning stringent measures to curb speculstion and traffiic in foreign exchange will pro- vide that henceforth dealings in bills of forelgn currencies and bank notes must be transacted only through banks, which will be compelled to ask for adequate credentials and to make written record of the terms of every transaction for the purposes of ;axa- on. RESORTS. HOTELS. _QUT OF TOWN. & HERRDO! car 36th and M sts, n.w. e e e e it i b S O N T BN B o DA D Y e it S C MR DO O e O e 253 i3 ' HELP AND SIT For Your Convenience May be left at any of the following Star Want Ad Branches nd U xts. 14th and P sts.—Day Pharma rmacy 1Ath 2nd Florida ave.—Pearson’s Pharmacy. 21at ane 25th Pn 1901 L st, TAST. NORTHEANT. o ohar- North Capitol and Eye macy. . 18th and Enst Coepltol sts., Lineoin Petk 5. Plsrma, or SOUTHEAST. Sth anq Eye sts., Weller & Moskey's Phar- m; acy. 11th and Pa. 5's Pharmacy. 14th and Ts yaer's Pharmacy. GEORGETOWN. 2204 3 st., O'Donvell's Pharmacy. 28th and P sts., Pride’s PLarmacy. 36th and M ste., Weller & Moskey's Pha~ macy. Rate—3 Cents a Word In Washineton and suburhs for— Help and Sitvations Wanted. Found. For Sale and Wapted Miscelianeous. Poultry, Pets and Livestock. Automobiles_for Sale and Watted. Rooms for Rent and Wanted. Business Opportunities, ete. Rate Outside of Washington, 4 cents a word. Real Estate Ads 8-live minimum, at “ne rate, g foilows: 1 time, 20c per lige. 2 tiges Star Office Open Until 11 p.m. Al advertisements for The Evening Star must be nt The Star office by 11 pm. the BEFORE ISSUE. with the following ‘ptions: Lost and Found, Death notices. Wanted Hely ‘Wanted Sitnatlons, Wanted Roome. Adrertisements under the ahove classl- fleations will be accepted at The Star of- fice, 11th st. and Pa_ave.. until 10 a.m.. day of imsue. All advertisements for The Sunday Star must be received at The Star office by 6 p.m. Baturday. Cash With Order is required for all advertisements from translent advertisers. pearts. . n.w., or phome A ret Main_ 703, N : BAR PIN, diamond and piutinum, at Ariingten . R C. BOSTON RULL TER! #pot on chest: Buster; reward. 19th n'w RUNCH OF KEYS. _ Reward. P. F. 08 5th st. nw. RUNCH Reward 1721 X corner of Tth and K. . DIAMOND RING on Goldenberg's. Please return to 818 9th st. Reward. VELOPE—Address 141 1ith st. ne, by wessenger. Finder please return to 727 12th ST 0% beral _reward. “ i shell frame; Thursdas. New Hampshirc av: i Chureh sts.. N - o § st ES, spect: bi- at Allles n.w Thursday evening, and 6 pm.: either in ladies’ room or diniug room, first UATIONS. 5 2 ! w. MALE (Continued.) SALESMAN—$25 per week man for retall lumber yard: state what kind of expe- i and give references. Ad- r office. N 1o sell fant-sciling_specialty to A women, backed by national and advertising! sales dnstruction before w. | SALESMEN Unusasl _opportunity Tor _twe high-class salesmer. Those having experfence j In pelling of stocke. sutomobilcs or speciaities . with »s'Box 79-F, Star r % and past records. ~ . STENOGRAPHER—Young man_for stenog. i raphic and general office work; $20 state experience and references. ; 0P, 8 must furnish references. to 5 pm. John H. Wil- I ave. ne. lesman Washington. d_resource. { you are the man ‘we w or commissionr with d preferred. m. USHER wanted; $20 a week. rawing _accouw lwl(h auto . Apply 327 13th . n. from X g G NAN o sell priatin commission; state previ and where 1 G MAN with some experience 1n drug rcference. Paul Pearson, 18th au between 16 and 40 years of age, with bicycles, as ! message carriers ; can earn $60 to 1$80 per month ; school boys may lalso apply for part time work. g;\ppl_\' Mr. Gerhold, 1407 G st In.w. graphotype_operat: ary expected. Address ress, . to asxist in care of cof fo mend clothing and dep plain sow; dustzial Home School fo= Colored . HKlue Plaius, D C.; District Fovernient poxition: $32 per month, Phone Lincoln ; room, board and laundry free. 2M63, M 18% “uke and pastry. = — DEMONNTR AT | known toile | spore: _ experienced, for goods line: large local dept. nce and salars. Address woking for oue or two ears of axe who liave th sire to enrn £30 1o $100 per week in a clean, lonest and co aver twenty-five x ental occupation. and are wil the dexire with real effo per ity and the a <1 absolutely e v partien Y o . Room 713, Albee bld day or Saturday, beiweeu 10 a.m. and pm. MARCEL W, 920 LESSONR by Frene: Call’ Maln 3 4 PERMANENT POSITIONS THAT PAY" $17 PER WEEK FIRST FOUR WEEKS $1,100 FIRST YEAR. AVAILABLE TO SINGLE WOMEN BETWEEN THE AGES OF 18 AND 2zs. Good eyesight, hearing, health and willingness to work the hours assigned are the essential qualifications. floor. Reward if returned to 1309 Conn. ave NO PREVIOUS Soip waAToH —i=.| EXPERIENCE NEEDED. w‘“’y‘t’ r;ulmrd n.w. Phone APPLY TANDBAG, lady's, red leather, containing FIRST FLOOR, me)‘ymlm keys. Return to 1608 20th fl:‘n_'w, 722 IZ“‘I ST. N.W. KEYS, bunch, at 25th st and Pa.ave, nw THE CHESAPEAKE & Bempaag " elurmed To 15 Tth & W, 1| POTOMAC TELEPHONECO. KNITTED SCARF, wide. gray, with three REH\'}ID”W;:M N, :0 or 0;0:;‘::'.:9!;:'(:2: D e O Or D . 8 18t | eatire salaty and advancement. Address Box LADT'S WATCH. between 4th st. and Penua. ;, ave. and Arliugton cemetery, Armistice dn 218’ Y-W building, Government Hotels. 4. Thursduy nd responsibili ent Give full details. Ad- as° MINK CHORETTa Metropolltan _ Thurs . Finde lease return Mrs. Kintz. Outside of Shipyards, Industry |35 sy, Rad veceive reward. Franiiin w " Fhows Gain, BCKLACE, gold beads: between Rhode Is- BALTIMORE, November 12—Ex- |land ave. and Washington Monument: reward. R. 8.. 1448 Rhode Island ave. n.w. 13% having or seekin ex- Address 13% d euiture., e of interior decoration. brown fur, at Union station or Fridey morning Please return Phone Frank. 5609. ¢ NECK PIBCE, on Conn. ave., 10 1808 Conn. POCKETBOOK- vember 1 i $10 rewanl.” Ad- small lesther purse, about 18th A Ginted, aTtraciive, eRergetir, quainted. man required. _Address Box . _Star_office. 13° YOUNG LADY sasist in_dental office: ex- perienced preferred. Dr. Leon, Warder bldg., 9th_snd F s FEMALE. COLORTD MAN snd wite (cook), first-class: and U sts. n.w. contalning various kers 4 Please return to Apt. 31, 1840 Vernon st. n.w. | good salary. 1653 Pa. n.w. T2 WABBIT DOGS—Two, male; white and yel-j s(EN AND WOMEN quickly learp real estate lor Reward Ben Buscher, 3343 P st. v. | business: receive pay while learning: need mot rmistice day, cameo ring. t Arlington ceme- Reward. Phone foterfere with present emplorment; some mak- ing $100 a_week. Free clans lectures eve: Thursdsy, 5 pm. Willlam F. Matteson, 819 TAM-0'-SHANTER—Child's tan beaver, bhenna omnament: Garfukle trade mar) ward. 3386 10th n.w. Phone Adams VIOTORY MEDAL, Friday a.m. Finder notify L. J. D., 366 South Station, Boston, Mass. Reward. 140 WATCH Monogram 8. D. C. Return 2506 K st n.w. Rews 13 ith re- WRIST WA lady's, Elgin, Nov. 1 round monogram H. 1. Reward. B, <. Willls, 111 Rutland Courts, evenings. '+ WANTED—HELP SATESMEN. E ESTATE SALESMAN for eity property. Must have car. Kay-Alger Co., Inc., 617 Bond bidg. SALESMAN to cover local territory selling dealers; guaranteed salary of $100 per week for ht man. Richards Co., 200 5ih ave., New York, N. Y. 150 SALBSMAN. bigh-grade pecialty, fo act a1 for good proposition just coming to Sem Write J. A Enight, 17 South Gay Baltimore. Md.. for particulars. 13¢ SALESMEN—Write for list of lines and full t., demand for men; inex nced or experienced, city or traveling. tional Asin.. Dept. 859, Chicago. MALE. AUTOMOBILE MECHANIC can increase his ry $30 or more each month; must be grod er and have pleasing personality. Apply Mr. Boggs, 708 18th st. n.w. TFFEURS, whife. See Mr. Clark, Ward- g?n‘ Park_Hotel taxi desk (after 6 p.m.) Salesmens XPERIENCED REAL | b particulars; earn $2.500 to $10,000 yearly: big { wi Colorado 'bldg. FEMALE DOMESTIC, n_family CHAMBERMAID, white] two in_ fa erences required. Call’ after & pm., Mass._ nw. COLORED GIRL to_clean up mornin e B Letn. “Wardes bidg. Sth t Ese B miie oy Sdaibu . LORBD GIRL, heaithy, energetic, for g eral housework and table mervice Toom and board. 1610 Calvert s COUK wanted at_once. COOK. 1868 Columbia_rd.. Apt. 508. COOK, williug to assist housework, and house- maid who will help_nurse with children. Ap-, ly Room 706, the Powhatan. Sunday from 10 to 12 or 2 to 4, or phone Main 2740, ask for 708, and ¥ 749, 14 stay nights; om COOK, housework, experienced. Apt. Wardman Park Hotel COOK—Good referrnc | family. 2827 a S0C WTso_experienced T private family:- chambermaid must stay nig! ences __Phone ( for_appointment. 13% COOK, experienced, “frst and second, fot Soading ‘house: homemnde ples and desserts and carving required. 1123 13th st. n.w. 12% GOOR, white or_colored, willing _to do_emall only esperienced need apply. 1716 \ ot nw. GIRL, experienced gena] bousework. Apt. 14, 3400 16th st. L) MAID, white, settied (stad age): family of, iwo apirtment: atay "sar o laumders 12787 e home for the right party. Aitess Box S°ar office. WHITE WAITRESS, witn asference; good wages to right party. 3308 8th st. n.e. Brook: 7 FEUR, white, to drive car for hire; e ientification cards and knaw the clty well. E. F. Gregg, rear 1181 17th pw. CIGAR PACKER—Steady work. Offterdinger. GOLORED MAN to drive route wagon for bak- ery shop. 905 U st. n.w. BRRAND_BOY, white. Appi Potomac Blectric Appliance. Co., n.w. HEAD WAITHR; colored: $60. Apply Man- acer. Stoneleigh Court. Conp. ave. and L. HIGH SCHOOL BOY, 17 or over, with wheel, to call on grocery frade after school hours. Address Business, Station H, city. . LEARN TO BE A STORAGE BATTERY REPAIRMAN 50 &y Teaiag and_earn from $35 to weel - eh you in_two :‘-fi., See Mr. 0'] th pep and enthusiasm to sing an: direct Sunday School music. Phone Columbia 8418, 120 Henry T. v o Mr. Owe: 607 14th st land_car. 6, %fi WOMAY, settled, for geaeral 2 13% % Apply 1683 18th st. n.w. APt oy, 13. % WOMAN, colored, for general housework. 4F/ H _st. ne. WANTED—SITUATIONS MALE. ADVERTIBING STUDENT dew -u_“opyw‘_gm With advertising firm; excellent referen Address Box 341-M, Star office. BAKER and pastry cook, experienced; experience in candy making: will work by hour or day. Add. Box 135-P, Star office. 18%7 BY W N, plvl\llnn‘ ‘ll conl - knows thoroughly the care of Lorses a city. Address Box 84-P, Star office. 13* GAHPENTBR wants work; alterations, Hect- i ing, shelving, anything. Address Box 150-By Star office. .o CHAUFF] with _private Phone _Cotumbl 3 CHAUFFEUR, colored, _reliable, experienced; will do Lousework; references. 2440 Pl..l'.‘" n.w. P i i % family. . m.w. In_ 36373, 1855y MAN wif MEAT CUTTERS, also young white man to help in market. Apply THEODORE JONES, Arcade Market. OFFICE BOY, white. Basement, 726 lgll nw trical nces. Apply to Mr. Owens, toee Bltrical Appliasce Co 607 4th st nw. SAPERHANGERS, two, frst-ciase: winter's Totk for right men. Risdon & Bell. 1373 On'ney_st._p.w. 13- REGISTERED PHABMACIST for rellef work. o Bast Caption at: ¥ord cars. N ek, N D, 6 o OUTSIDE SALESMAN, one experienced with | 22nd GOLORED MAN to aftend To & furnace morn. 'I and evenin, reasonable wages; best of rences. _Call at 1210 8 st. n.w. . COOK wants place in private family or school; ?-’na refercnce. Address Box 435, Bur of COOK, colored, ington nw. FIREMAN desires position; experienced. 005 B POBITION by young man: any kind of houss- worll,l'llmnd’wm sher; willing to do anything. 1715 Florida ave. n. Phone North BALESMAN, thoroughly grocery trate; : Btaroffice. 14 YOUNG It;. _dependable, wishes to te with es En SHond oo start o8 sy il S Have auto. Phooe Lincoln = by day of week. 404 Wash- acquainted, Address Box SS7-M, 140