Evening Star Newspaper, November 16, 1921, Page 24

THE EVENING, STAR, WASHINGTON, D. / . WEDNESDAY, NOVEMBER 16, 1071, ‘ SAY RETAILERS IN MANY LINES ARE HAVING SUCCESSFUL TIME Chicago Reports Also ’Season's Sales in idly reduced. American firms are cap- turing a fair portion of business be- cause of ability to make prompt de- liveries, although Germany is under- f bidding the American firms on man!l as anticipated. Many householders are buying only for immediate needs 1n the hope that h decrease in freight rates will be passed on to the con- sumer. Shipments recelved at the head of the lakes this year total 9,640,000 tons, exceeding last years shipments by 2,500,000 tons. art'cles, NEW ORLEANS, November 16 (Spe- clal).—The freight rate on grain from this port to Amsterdam. Rotterdam, Antwerp and Havre for December has been fixed at 15 cents and the rates to Hamburg and Bremen at 16% oenta. Biscults. BOSTON, November 16 (Speclal).— ‘The Loose-Wiles Biscuit Company. ®K o AR A\B\ARN -~ Restful driving is part of Restful riding in the 1922 Auburn Coupe or Sedan. Brake and clutch pedals operate with slight pressure. The gear shift responds to the touch of a finger. The instrument board is arranged with particular regard for the driver’s convenience. You will like the smooth, positive action of the large brakes. And, in cramped quarters, you will appreciate this car’s short turning radius. Twenty- | flfesyfid fidin&' BeautysSIX Shift Gears With a Finger one years of buildingbetter motor cars are back of Restful ridingin the 1922 Auburn. Let us take you for a ride in the 1922 Auburn. Let us tell you about its 42 important betterments. Letusacquaint you with real Restful riding—you owe this to yourself. NEW PRICES, f. 0. b. Auburn, Indiana: 5-Pas. serer Touring, $1695; Roadster, $1670; 7-Passenger Touring, $1760; Coupe, $2475; Sedan, $2495. Cord tires standard equipment on alf models. AUBURN AUTOMOBILE CO., AUBURN, IND, Space Number 4 MOTOR COMPANY OF WASHINGTON 24th and M Streets 1749 Rhode Island Avenue " Excess of Those Last Year. " Situation Elsewhere. . BY A. D. WELTON. Special Dispatch to The Star. CHICAGO, November 16.—Buying by dealers Is slowing up In this territory. They desire to have Inventories as low as possible by January 1. On the other side of the equation, retaflers in many lines are having a successful season, with sales in excess of those of last year. The retailers have discov- ered that they cannot afford to sitand walit for business, but must go out and get It, and salesmen 1n many lines are unusually active. Some firms which have not had men on the road for five years are starting them out again to drum up trade. Manufacturers are reducing costs and adding to profits by study of more scientific methods of production. manufacturer of speclalties reports that with 280 men he is turning out a larger quantity of goods than with 420 a year ago. per_cent of capacity. A maker of washing and ironing machines 1s run- ning at 70 per cent capacity with 55 per cent of capacity force employed. The building trades labor difficulty still is officlally unsettled. The credit; situation_is easier, but there is a smaller demand and a larger clamor from those in distress. Buying Continues Large; Holiday Trade Promising BY FRANK D. McLAIN. Special Dispptch to The Star. PHILADELPHIA, November 16— It is hoped here that the construction of merchant vessels will take the place to a large extent of the naval building program, which has kept the banks of the Delaware busy for years, If the limitation of armament program_ as now outlined goes Into effect. Including the League Island navy yard, there are seven big ship- building plants In this territory, ican Navy, 000 when completed, are under con- struction, for Japan. blow to this industry here If Secretary Hughes' program Is adopted, as there are also two arsenals here which supply arms, ammunition, clothing and other supplies for the Army and Navy. Steel plants also would be affected, 1as United States Steel, Midvale and Bethlehem companies make armor plate, and the latter two manufacture One | His prices are down ' 30 per cent and he 1s turning out 65, senger cars from the raflroa Retall buying at the department makers of crackers and biscuits, re- ports that orders have increased in number, but not in size. ani dealers, .he company reports. still are buying on a hand-to-mouth basis. Buflding Materials. SAN FRANCISCO, November 16 (Spectal).—In some sections of Cali- stores here continues to be large and: fornia, bullding Is booming, with a being very satisfactory to merchants. Trading Near Standstill; Awaits Cotton Advance BY L V. BHANNON. Bpecial Dispatch to The Star. NEW ORLEANS, November 16.— Trade In the south is almost at & stand- sull, awalting another advance in the price of cotton. Dullness and slowing down of business is expected to con- tinue until there {s a rise in cotton values and a greater demand for lum- ber. The great revival of trade during September and October was due to the advance in cottol for lumber. n prices and in demand { of the south took a largespart of the {cotton crop off the hands of the pro- ducers at from 18 to 22 cenis a pound. ‘Wi hin the last six weeks it has drop- .ped & to 6 cents a pound, or $25 to $30 a IAnle. 8 a result, the people who bought cotton must accept huge losses or wait until prices advance again, and most of them are choosing the latter course. 1 Meanwhile business is waiting for these men to get back the money they have tied up in cotton. Leading bankers of (g‘e south are looking to the conference ont the reduction of armament so to adjust world affairs that the south can market {ts cottun at satisfactory prices. The unusually warm weather has Inter- fered with retail trade in the citles Commodity Reports From Various Sections Live Stock. BIRMINGHAM, November 18 (Spe- ‘clal).—Cotton men and financiers In ithe South are making desperate ef- forts to increase and foster live stoc | production through the planting of | feed crops and the restriction of cot- ton acreage. ST. PAUL, November 16 (Special).— Hog prices reached a new low ior a | pounds for good butcher hogs. |of the trade is around $5. An accumu {1ation of dressed pork and pork prod- ucts is blamed for the weakness, FORT WORTH, November 16 (Spe- cial).—Piices for cattle recelved here |continue to decline. The quality of ithe stock now being marketed, how- 1 ever, is extremely poor. While prices were risin l jthe retail merchants and small bllyer:' prices. In this immediate viciniity only moderate activity prevails and | the materials market is spotty. the lollday trade gives promise ,,,i-mnz demand for materials at firm Fruit. VANCOUVER, B. C, November 16 (Special).—The first shipment of ap- ples this year from British Columbia orchards "to Scotland cons.sted of eighteen carloads of Jonathans. Hemp. NEW YORK, November 16 (Special). —In an effort to move .he surp.us stock i of Mexican sisal fiber now in this coun- try, the price has been cut to 2% cents a pound for shipment from the gulf, and 3% cents from New York. These priccs are said to be beiow the cost of pro- duction. Sugar. BOISE, Idaho, November 16 (Special). —It is expected that dis.ribution of the | $4,150,000, mide availabe for loans to Deet sugar farmers in Idaho and Utah, wiil begin shorty, and will assist m terially In aiding the beet growers through the season. The beet sugar factories now are beginning operation: Steel. YOUNGSTOWN, Ohio, November 16 (Special).—The Camnegie Steel Com- pany will blow in an additional furnace here this week and will fire another stack at its plants in the ) Ittsburgh district. ST. PAUL, November 16 (Special).— The Griffin Wheel Company p.ant re- sumed opcrations at fuil capacity today after operating at half capacity since last March. Improvement in demand authorized the company to doube its working, force. The plant makes car whee:s for the northwestepn raiiroads. NEW YORK, November 16 (Special). —The American Locomotive Company has purchased 1,000 tond of steel sheets for use in manufacturing locomotives. Drugs. BOSTON, November 18 (Special).— Louis K_ Liggett. president of the United Drug Company, who some weeks ago was forced to assign his personal property to trustees as a re- sult of the decline in United Drug stock, will pay off his obligations to- day. The business of the United Drug Company has shown a substantial in- crease In the last two months. Shoes. t 30x3} Safety Another Reduction in Goodrich Tire Prices Including Silvertown Cords and Inner Tubes On May 2, 1921, Goodrich tire prices were reduced 20 per cent. 1 tion made at the very opening of the mo- toring season was received with great en- thusiasm by automobile owners- from coast to coast. The B. F. Goodrich Rubber Company now announces & further drastic reduction in prices effective November 15. e 32x4 Silvertown Cord costs today, at thesenew . prices, $32.40. The price of this tire last April was $52.30. The saving is $19.90. Fabric now costs $13.75. The ||I| Corresponding reductions apply on all other sizes and types of Goodrich Fabric- Tires, Silvertown Cord and Inner Tubes as well as all types of motor truck tires. . ||' AKRON, OHIO - This reduc- guns and projectiles, as well. The steel companies pin their hopes for future business, however, on a re- vival of buHNding throughout the country and on demand for steel pas- : price in April was $20.00. The saving is $6.25, or $25.00 on a set of fouy tires. Poultry, NEW YORK, November 16 (Special). —Turkeys are in larger supply her: with advices from shipping sectio: indicating higher prices on all grade l-‘an!cy toms -;e qix‘olel at 60 to 652 cents a pound. Live turkeys are quoted at 35 to 38 cents. e an ST. PAUL, vember 16 (Special).— - Dealers are paying 34 to ‘35 cents & D::;x% r"u'zh:nh'“ fowls. which last b4 roug! e farme; it T8 36 to 38 cents | —_— ‘ Lumber, SAN FRANCISCO, November 16 (Special) —The contract for 1,660,000 feet of Douglas fir for surfacing Coney Island’s new boardwalk, has just been awarded to a local lumber firm. The satisfaction given in the use of Douglas fir in the Atlantic City boardwalk and in the Yale bowl was ree~nngible for the choice of this wood. NORFOLK, Va., November 16 (Spe- clal). —Exports of lumber are now moving In regular though small ship- ments through this port. The greater part of these shipments cons.sts of hardwood and most of it {s censigned . to England and Holland. i Shoes. HAVERHILL, Mass, November 16 (Special).—Several shoe manufactur- ers here are contemplating moving to other locations as a result of the wage controversy with workers. BOSTON, November 16 (Special).— The Endicott-Johnson company, larg- est manufaoturers of shoes in the world, 1s working at capacity. Its factories are turning out 100,000 pairs of shoes a day. " Coal and Ceke. PITTSBURGH, November 16 (Spe- clal).—The H. C. Frick Company has ordered the firing of 600 additional coke furnaces this week. Two hun- dred will be fired at Colonial No. 1,at Smock; 150 at Lelsenring, 150 at Le- mont and 100 at Youngstown. MINNEAPOLIS, November 18 (Spe- clal).—The coming of cold weather did not stimulate the demand for coal NEW YORK, November 16 (Special). —Cuba and Mexico have been among the best markets for American shoes this year. More men's shoes were shipped to Mexico than to any other country except Russia up to October 1. Cuba led all other countries in Im- porting American women’s and chil- dren's shoes, with Mexico third. LYNN, Mass., November 12 (Special) —A number of important shoe man facturers will move their plants from this city as a result of refusal by union workmen to accept wage cuts. Allen, Goiler, Leighton Company will move to South Boston. Biothers anneunce they will close their Lynn plant and open a factory | in Boston. Steel. PITTSBURGH, November 16 (Spe- clal).—Official announcement has been made that the Standard Tank Car Cor- poration will resume operations with- in the next ten days, giving employ- ment to several hundred idle workers. The company has received orders for repairing considerable railroad equip- ment, including 500 box cars and gon- dolas. It is announced that prospects are good for steady operation for some time. Notes. NEW YORK, November 16 (Special). —The alfalfa growers of California are making a strong bid for control of the markets of New York, Boston and other eastern cities. Heavy ship- ments of baled alfalfa are being re- ceived here by the way of the Panama canal. There has been a light hay yleld in the eastern states, and the freight rates by rail from middle western points are so heavy that the ifornia growers with a $12 a ton rate through the canal are able to compete with the midwestern pro- ducers. The California hay is shipped in 200-pound bales. Dairymen, the heaviest consumers here, are said to prefer the California alfalfa to that grown In this vicinity. NEW YORK, November 16 (Special). —Recent arrivals from South Ameri declare that the business situation in Argentina and Brazil is improving ma- terially, with excess stocks being rap- - A Teacher’s Finances The men and women to whom this advertisement is "addressed have chosen a life of constructive and of as- sured but moderate income. SYSTEM SAVING is a plan which has been evolved by us with special application to the financial requirements of teachers. It opens a way to monthly, small volume investments, assured of sub- stantial interest return and which, in the end, will accumulate for you holdings in first mortgage notes on improved Washington real estate that will make you financially independent. L) gt A booklet detailing this plan will be placed at your dis- . posal on application. _ Swartzell, Rheem & Hensey Co. ' 727 15th Street N. W. Washington, D. C. The Nation's Home Town Wholesalers Ferguson | _ COTTON MARKETS. NEW YORK, November 16.—The easler ruling of Liverpool and up- favorable Lancashire trade reports appeared chiefly responsible for an opening decline of 10 to 25 points in the cotton market today. In addi- ition to local or commission house sellink, there was some scattering {southern selling, but the offerings | were not large and prices steadied up after the call as a result of renewed covering, which was probubly pro- moted by reports of a better opening tone in the stock market and there was bullish comment on_Washington advices, indicating that the pink boll worm had been discovered in one of the larger producing countfes of Texas. ~January contracts from 16.22 to 16.50 and March from 16.30 to 16.55, or about 6 to § points above last night's closing. Futures opened steady—December, 16.40; January, 16.22; March, 16.2 May, 16.25; July, 15.88. For a time the buying was rather imore confident and aggressive than recently and the advince to 16.50 for January, or sixteen points net higher, was accompanied by rumors that ’tmn of these reports, however, prices eased off to about last night's i closing quotitions early in the noon | hour, when there was some scattered southern selling and talk of an easier 8spot bagis in the eastern belt. NEW ORLEANS, November 16— Declines of 7 to 9 points were made in the first trading In the cotton market today, mainly as the result of cablegrams from Liverpool saying that English spinners had voted to work half-time on American cotton. Shorts commenced to cover and ne buying arose on the favorable | pression created by the progress ac- complished by ‘Washington, so that the decline was checked and replaced by an advanc- ing tendency. to 29 points over yesterday's close. After trading off to 15.57, December rose to 15.89. Futures opened st 15.5] January, 15.7; M y, 15.68; July, 16.35. Short covering Increased and new buying arose after the posting of ex- ports of 46.653 bales from Galveston. The market at noon was active and shortly after stood 35 to 42 points higher than yesterday's last prices, at 16 cents for December. LIVERPOOL, November 16.—Cotton —Spot, incre:sed demand; prices easy. Good middling, tuily middling, 10.82; middling, 10. low middling, 9.12; good ordinary, 7.37; ordinary, 6.62. Sales, 6,000 bales, including 5.000 American. Receipts, 40,000 bales, including 25.900 American. Futures closed barely steady. November, 10.3! December, ~10.35: January, = 10.3! March, 10.37; May, 10.35; July, 10.3 September, 10.06. BOND LIST AGAIN AGTIVE AND FIRM NEW YORK, November 16.—There was no impairment in the general buoyancy in today's bond market. Trading, however, ‘'was not quite as active as it has been and there were ‘| fewer price changes of consequence. Liberty bonds rose at the s.art, then fell b ck a btt. In the foreign divislon, Swiss gov- ernment §s reached a new high of 112. United Kingdom 58 of 1937, influ- enced by the great s‘renglh in ster- ling exchange, were'in demand at ‘their h'gh, and so were the United Kingdom 5%s of 1929. Zurich 8s above 106 and both of the Chile is- sues were strong. Bonds of the iocal traction company continued to be Bouzhl 0st by .. d lative buyers impressed with the view that the revaluation of these prop- erties will show their securities to have been selling too low. | Tractio Higher. Interborough 58 got up a point to 56 and the Brooklyn Rapid Transit 7s rose 2 points. The great success of the New York Telephonc ofter.n; yes- terday was again reflected in the va- rious iscues of the comp: ny. The deb- eniure 6s were up a point and the 4%s, at 871, were at their best of the year. The new refunding 6s them- selves gained a half point and were actively dealt in. In the oil group Sinclair 71;s cross- Ied 97 for the first time. Western Union 5s were up nearly two points at _93. United States Realty Improvement bonds, moving with the stock, bet- tered their previous figure when they | sold at 93. Pacific Gas and Electric 5s, at 88, were slightly above their 1921 top. ER St s rallied , first and ‘ the conference at!for the Labor Bo: At the end of the first |likely, half-hour of the day prices were 21 riers "filing with Specialties Move Freely on Pool Buying—Rails Attract More Attention. BY STUART P. WEST. NEW YORK, November 16.—The stock market was in shape today to reflect better the judgment of the financlal community regarding tho proceedings at the conference on lim- itation of armament, as the readjust ment demanded by Monday's decline and the indeterminate fluctuations yesterday had been completed. The Impulsive conclusion—that = aval- holiday was an argumen: 2gainst the s'eel and related issues— {was overshudowed by the broad con sideration of what it will meun to the future trade of the world, if the out- come at Washington gives the assur- ance of lasting peace. The advance, interrupted at the .gtart of the week, was resumec. Trading at once grew more acti and prices advanced—always a sig- private ginning returns pointed to[nificant thing in professional eyes, as !a ciop of below seven and one-half | pointing to the main trend. million bales. There was no confirma-' The better class of dividend-paying railway siiares joined with the repre- sentative (ndustrials, like the steels and the equipments, In reaching new high levels for the movement. A host of specialties in which pools were at work were taken In hand and bid up, one after the other. Here anc there there w e M ere spuris as shorts The b Buying in Rafls. e buying movement in the railw: gtocks today had back of it the belie that 2 way will be found to settle the most urgent problem facing the roads, Which s how to stand a further serics; of rate cucs while waiting indefinitely ard to act upon tis new 10 per cent wage reduction. Th™S troublesome question, it is now though will be disposed of by the car- the Interstate Cox jmerce Commission a new rate schedul Which will contain the necessary amoun® of lowering. This new schedule, however, would not be put into effect until the labor beard had rendered its decision. A compromise of this sort would satisfy popular sentiment as to thc good faith of the companies In their declared intention to pass a'ong the seviug resulting from a further wage cut to the public. It was again noticeable that the buying ‘was confined to the better class of rails. Delaware. Lack wannu 1nd Western was the leader, followed closely by Reading, Northern Pacific. Norfolk and Western, Canadian Pa- cific and New York Central. Stocl of companies like New Haven and & Taul. which are earning fixed charge under present conditions, failed t. respond. Speeinlty Moves. There were again a large number of specialty movements. These indicated the confidence with which pools are now operating, bu beyond this there was yery little b the way of news or even fresh gos sip. The zinc stocks made a fair re- sponse to the Information printed yes- terday regarding the dwindling of ths zinc supply and the prospert of earl:- {resumption of mining. Callahan Leay and Butte and Superior were the lead- ers in this group. The buying in United States Realty, which put the stock up, came from sources which have been identified with important upward movements in the nast. The bulls on American Hide and Leather preferred were beginning t. talk about the possibility of resump- tlon of the dividend contending that this is now being earned and that the company’'s position is strong enou; to warrant a distribrtion. Plerce Ofls. Pierce Ofl stocks have been slow to join in the ad -ance of the oil 8roup, but they made up for lost time today. with a remarkable jump the preferred and a great déal mor activity at risine prices ‘n the con- mon. “The trouble with Pierce Oil has been the nec-ssity of doing som. new financing. Traders have reluctant to bul! the stocks for fe that a financial plan might suddeniy be announced and have a bearish effect. But Plerce Ol is In a mucl ibetter position than it was to mar- ket a new issue of securities. and th. idea was that the stocks were beinc prepared for sama svch announce. ment by today's advance. —_— Washington Stock Exchange Salgom e s :: :l 1 at 90, 1 at . Electric pte t 13015, 1 ut 1 at 130%, ¢ Mergea Taier " Lino' e Mergen hialer ' 1901551 8t 13015, 1 e 1901 at 130%, 1 at 1303;. AF Washington Gas Light—5 ., Mergenthaler Linotype—2 130° ington Rallway Money—5a6 per cen at 4%, 15 at at 150y, 1 Flectrie com.—5 at 40. BONDS. Bid and Asked Prices. PUBLIC UTILITY. asgsiuGEeed Georgetown Gas 1s Me ropolitan R. R. 5s Potomac Electric Light Ba. Elec. cons. Gs. 5 532382 L " EEEE{ §—§5 STOCKS. PUBLIC_UTILITIES. Ameriean Tel. and Telga TRUST COMPANY. American Secnrity and Trust.... 21 Continental Trust .... Naclonal Savings and Trus! Union Trust ‘Washington Loan and 8t. ... SAVINGS BANK. Wastilng.on FIRE INSUKAN Amer‘can . Arlington bla Graphophone com. Solambta Srapbophone prd- D C. Pi Al Co. ler Linotype NS oaich Market £ 01d Duteh Market pfd. Lanston Mono.ype - i B.ora oaion Maresi el BAR SILVER QUOTATIONS, 3 e e f s NEW YORK, November 16—For: il o eign bar silver, 67%; Mexican dol lars, 51%. i 16.—Bar silver,,. LONDON, November 16 T p:“_‘um:\ iscount rates: Short ‘bills, n; eoDnt: '.::u--onth- bills, 4 per cen s 3l The B. F. Goodrich Rubber Co. "