Evening Star Newspaper, May 25, 1922, Page 28

FINANCIAL. ‘ THE EVENING STAR, WASHINGTON, D. C, THURSDAY, MAY - FINANE IAL. } _ Eggs—Strictly fresh, selected, can-| BALTIMODE, May 25 (Special).— & ' High. Tow. Close. High. Low. Closa | dled, ver dozen, 26; average receldts. | potatoes, white, 100 Ibs., 1.25a1.50; No. . L R e In New York Curb Market. . uthern, 2. & (Quotat ted Press.. b e pentiry - Roosters, per Ib., 18; |2, 50a76; new potatoes, bbl., 3.0086.00; % % N wuiBeculpr e e 1% e ety O Mg D { turkeys. per Th, 25a30; chickens. win- | bu., J.26a2.00: sweets and yams, bbl Btk 6| Netl Clonk a'muit. s e %9 Salen. g 13, ter, per Ib. 40a30: spring chickens. | 3.00a4.50; No. 2, 2.00a250; bu., 1.00a e n a% " .70 ; ; "xi,'. per It 50a0; keats, young, ewch.l g, no" cr up.ru-u. doz.. 2.50 | BY Speciai Leused Wire to The Star. o Lt " %870 55 “B‘r‘;«::: I ouitry—Fresh-killed wh- | 23.00: No. 2, 1.20a18 hamper,| NEW. YORK, Mhy 35.—Interest in sk ool 1 B ‘?z?f i ter chickens, per Ib., 40a45: hens. per [76a2.00; beets, hundred, 6 0; cab- | the bond market shofted today from &% brivd ol e 5" % i 1b. 20; roosters, per Ib, 20; turkeys, | bage. Ccrate, '1.00a1.25] carrots, 100,|the ordinary dealings to the success- Ca% b o 10093 8% per 1b, 35a40; keats, young, each, 60.|6.00a7.00; corn, crate, 2.00a4.00: cu-|gy] sale of new capital issues. 8% 188 hud g H } Live’ stock—Calves, choicé. per Ibs | cumbers, crate, 1.50a2.50: eggpiant TRl i 168 9% o L H medium, _ 10a16t: thin. 5aZ.|crate, 1.25a3.00; kale, bu., 15225. ¢ 1argest pleeg;of frosh financing 1% T . 1083 | Limbe, chotes, per Ib, Live hogs, | Le 100 was an offering’ of $35,000,000 New % [ § Chiness Gov. By s 3 per Ib.. 11.10. : No. 00; spring | E; % City of Bergen 3! Sreen. fruit= SN X bbl., 5.00a .50a1.75; peas, hamper, c::‘:‘ :":’an .": l:‘,'l:‘"p: ] =‘“ 36 City Bordeaws 6a . B 0 & 100 Conley i | 5.00; per bu. b; : ; western, 7. : - '2.0083.00; pany first mortgag irty-yea " ied L o T H 100 Conley Tin Foll ... 124 1 12 er box. 4..L|uo nia nrlng::.‘ & 5 per cent gold bonds, serles A. The % sor oma| '3 City SF Lyons o 888 81| 100 Continentsl Motors & E i per crate, ,emons, per L H . m = i B50a4.50. ! 5.00a omaioes crate 3750 | yielding over 5.16 per cent. % R Sariles 5 80 % Derrat K8 i B i | 650. Florida oranges, 0a9.50. Straw-| .5 go" Morgan & Co., the syndicate man- "% % 13% oY% lno Dort Motor 20 i h:rnos. southern, homegrown, | “Annles. packed. bbl.. 6.50a8.50; No. uar-l -nnfou:em ul;- lmmedhte ab- | AmLa J:: l:“ 16% Northern Pacific. .. 'ms % 8% 300 Du: 3.-& 18235 2, 5.00a6, R les, | sorption of the bonds. ! Vegeuables—_Potatoes, old. Noo 1. per | 5 0. biaskberics. aur “Biash:| They are caliable at 100 on or after 1M 1% 118% | Ohlo Body & Blow.. 1% 11% 1% (3% bbl., per sack. 3.0 -305 cherries, Ib., 20; grapefruit. box, 3.50June 1, 1949, and are secured ratably 90 9 9% 98%| Okiahoma Prod. % 3 % 21 I n poutoes. per_bbl, No. 004 | 25.00: ora: box, 6.00a9.00; peaches, | With the company’s outstanding $11,- s 6% €% Ontario Siiver. . 5 rench Republic & 1 iz 0. qweem 3.00a strawberries, qt., 8a| 000,000 debentures by a first mortgage 20 118 French Republic 7} 0172 lfl. G Yams. 023.00. Lettuce, rgg; 20; watermelons, each, 70a75. covering valuable physical property in 0% A crate, 50aLid. ~Romaine lettuce, T00a s s four New England states. The Ameri- 2% i ‘ A% 150. Cymblings, per crate, _bba;e elling Prices at 1 0'Clec! can Telephone and Telegraph Company, % 7 King of Belg! 102% | 2600 Hudson Mot 213 Ed Onions. per crate, 2.00a oAb 1 red winter spot through a majority stock ownership, Pac Development. ™ 9% 9% King of Denmark 6 99% 98% 90 100 Hudeon & Manbiisn 131 13y £ ove o ;:A“lilnzga e e 3000 0. 2 Ired winter, spot,{controls the New England company. PacGas& Elec.... 10 1 1 f Italy 6l 100 Inland Steel. 58 38 - Tomatoes, per box, Florida, 3.00a | 3¢} xp y—“;eed”w:;:;{d sarlicky, spot, Big Utility Flotation. Pacific Ol e % 97 96 2, . Beans, 1.00a3.00 per basket, el | "No sales. P r:ffi:yl;mr;s;-:fl::m‘ el T :“ Tyon-Med 6s ol 50a4.00. Peppers, per cra 5 o1 y v, T a ul o . Pan-Am Pete (B).. §9% B0% A % ale, 50a1.00. Asparagus, per do 3.5003.60 per_ batrels Somtract torn;| 000000 Brookiyn Union Gas Company 1 Parish & Bingham.. 16 16 IS4 g"'“"}“ "'2: e s s 3.00. Spinach, per bbl., 50a1.00. spot, 68%: No. 4 corn, spot. :| issue of first iien and refundéd mort- Pennsylvani, DA% a% o Ak ,.::.':,,,: =k ,,_ o —_— track corn, yellow, No. 3 or better, 13 | §%8e 6 per cent gold bonds, series A, ; Penn Seabd Steel... 13% 19% 1% n"‘( g = asked. due In 1947. The bonds are non-re. s 1% Peoris & Tate e 1% o % COTTON MARKETS. ‘Sales—1.500 bushels of No. 1 whtqs | deemable prior to maturity. They were S S % 3 B 5w YORK, May 25.—Relatively | 50°6912 par bushel: 357 bushels of No, | S0ld at 105 and interest to yield 58 Pere Marquett, = 3 Liverpool cables and reports of | 3% Q0% Pe¥ Bushel: 557 bu . Another public utility—the L 10 Pere Mrq prior pt g 15 hetter weather in the south led to|” Goed” \whira o 2, 49% per bushel | Mississippi Valley Power Company— ison pf. Fhlla Company. 73 Unit Kingm Gigs '37 10255 scattering liquidation and opening|asked: No. 3, 49 per bushel asked. has sold through New York bankers | ejones mira Atl.. Phillips Pete. %0 U'8 of Heasil Ba decline of 11 to 14 points, with July | “"Rye__Nearby, 90al.05 per bushel;|$400,000 of its series A first mortgage | 4u1onyic Coast Line 103 Plerce-Arrow. 28 U 8 of Mexico selling of* to 20.13 and October 10} No, western export, spot, 1.13%;|&0ld bonds. Atlantic Fruit Co... 4% Plerce OIl. 20 U 8 of Mexico 4 19.91. Th-re was .some covering by | No. 3, no quotation, The rallway section of the bond|Atiantle¥ruitCo.. » Plerce Oll p near month shorts. however. while| fiay_ Receipts, §2 tons: range is|market remained the most active, but ) Atlantic Guit. ) Pitts Coal " iy b RNew Orleans was a buyer of néw erop | 18.00 to 22.00 for good to choice tim- there were no features. The specula- | Atlantic Refpf. .- e e u.'x'"n..r.’.‘fl"a. positions, Josses were recovered shortly after the call. ::_Grain, Produce and Live Stock LOCAL WHOLESALE PRICES. GRAIN-AND PROVISIONS. and about half -he ""l“lioth)-nnd mixed hay:; market firm; There were continued ru-| Straw—No. 1 tangled rye, 15.00; No. | cut. mors of probable shipments of cotton |1 wheat. 11.50a12.00; No. 1 nominal, Raill Losses. out of t! he local stock, which may |1200a13.00. New York Railway's adjustment Gs|Balto&Ohlo. % Prassed Steel Car. . have promoted the demand for Julv.| CHICAGO. May In a general |lost a point. Frisco although nothing definite was learned | rygh to sell wheat today prices un-|and Eastern Illinols 5s, in that connection. A 9 derwent a new tumble during the|Airline 6s and among Futures opened steady; July. 20.15 !enrly dealings. Buyers were scarce|priced issues, Union Pacific 6s, Balti- 1 until there had been a decided fall| more and Ohio 4s, and cnnverllbl; 58, Steel " a g9 | Pure Ol 8% pt. Southern NEW ORLEANS, May 25.—Poor ca- | favored the view that the big ope-|Railway 58 and St. Louis Southwest- Bklyn Edison o b ""Concflvw aall went frac- | Rk \d Ten. and that with chances of & month- | tionaily lower. The' buik of the Tail- | em ran i etti Reading 1t pf. October. uary, 19.7 bles and condition : December, 19.85; Jan- income: arch, 19.54 in values. Most of the comment|Rock Island refunding 4s, somewhat better weather: rations in May wheat were at an end.| ern Consolidated 4s, s over the belt caused al xradual sag in the price of cotton lnlqnd squeeze of shorts having been|way mortgages, the first hour of the session today, July falling off to 19.82 and the list|the market had been given a material | funding 4s gained a making losses of 10 to 16 points. This|advantage. Deliveries here on Maytraction bonds were generally unin- was last market, but_tenders of only 300 bales | bushels and there were fresh receipts| The Interborough Metropolitan 4148 2 R JReynolds (B). 46% 6% d6% appeared. tracted n notice day for May in this|contracts this morning totaled 821,000 | teresting. NEW OFFERINGS. tive issues‘sold off fractionally re- n supplyon hand ample for trade. flecting the 10 per cent freight rate| Austin Nicaols pf. Seaboarq Pullman Co. the highes- however, point. thus greatly reduced, the bear side of | steady. Minneapoiis and St. Louis re-{ gt38 grlf 2y b were | Biayn Unlon Gas. .. 111 T, iy e Gin P x."’n o " STANDARD OILS. ew York : Rep Iron & Steel. f x-""") Leather 510 = o | 1190 Anglo-Am OiL..... 21 2 Burns Bros (B) SR e s R Ceniral, Pac sid 411 K6, 3 Mg HE o "NEW YORK STOCK EXCHANGE BOND AND CURB MARKETS wmwmmwnnhuumsmo-a Pond Creek Coal. 5 i Postum Cereal. ‘Baldwin Loco. v Postum Cereal pfd.. los'i Amer Agr Chem b Amer Smeiting 5. 93 92 300 Bwift International. Amer Bugar 6u..... 5 100 Tenn Ry L & P. Am T & T cv 6. 3 Coba Am Writ Paper Ts Armonr & Co. 415 SEaem Producers & Ref. m Chicago o Beamship. it Baito & Ohio ev 2" | 2000 U S Ship Corp. K Bell Tel of Pa S 10rs % | 1800 Un Proft Shar. new Beth Bteel ref 5s 00 5 2Rueckae! 2 > RIS % Reading..... : “: ype Coal 100 Willys Corp Ist pr.. 15% s ‘1:-.-5;-: 10% 45 1135 113 550 Prairie. Pine Line.. 544~ i Rep Motor Truck... 104 10% 9% 150 Bandard Ol of Ind. 111% 1103 110% n The strength of July at-ihere of 325 carloads. The opening.|were bid up, following the announce- s 18 01 5 tand otice, as its losses were less | which ranged from 1 to 23 cents|ment of the offer to 41z per cent bond | Ca T % ek | Revnolds Spring. . 46k o au o 3 AL L a1 oo ¢ other month. lower, with May 1.30% to 1.31 and|and certificate holders under the In- 4 v | Roval Dutch... s . oil . 2 - o May. 19.90;| July 1.22. to 1.2213, was followed by | terborough Rapid Transit Company StL & San Fran 19.50; December, | successive breaks that carried May|readjustment plan. i ‘s 19.35; January, 19.25; March, 18.95. down to 1.28 and July to 1.20%. In the industrial di LIVER] 34; full Receipts, [Futures July, 11 Corn and oats went downgrade in|per 6s declined POOL, May 25.—Cotton spot the corn market continued to sag. ing in this group Oats started % lower to % advance:| jrregular. ly middling. 12.04; middling, ordinary. 10.09. Sales, including 9,900 American, t e . Tabgtuding 9,900 American.| Higher quotations on hOEs gave | ternal loans for closed quiet;: May, 11.68; : October, 1 December, later descended another half cent,|falling below 94. ivision Chile cop- slightly, s advanced rather sharply. Consoli- | Central Leather. in good demand, but business moder- ‘.‘v:‘:de“:léhsw{‘;;:r, 3{:]!; f}’i“‘{",‘ & | dated Gas 7s eank again. and du Pont | Central Leath pf... s ate: prices steady: good middling, Trad- . 9% W as a whole, middling, 11.44; good ordi- | yu1y ‘381, to 38%, and then suffered a | Liberty bonds were steady, and 30 moderate general setback. were the forelgs government ex- . the most part. firmness to provision values. French republic and the department 5 C CHICAGO. May 25. — The market |of the Seine 7s were soft, the latter ad wE R : 3 ¢ E Cube B K ] January, 11.07; March, 10. b L L L Chi M1l & 8t P % ”‘m'eglnoen Petroi 11 DAIRY MARKETS. taking on the part of bear speculators N N ChiMil & StPpl... “ g BALTIMORE, M S \ 1.|led to moderate rallies. A steadving FOREIGN EXCHANGE, Chi & Northwn. * 108 300 ¥enniang ‘x)»‘u ALTIN 3 y 25 — ] - D 4 . £ = : e it ing thickenaccial-— Poul | Mfluence was the fact that the Liver- | (Quotations furnisbed by W. B. Hibbs & Co.) | Chj g Northwn pE. . 1h% 119% 112% 112% | Stand Ol of CAltE. .. 115 116 114 & Det - B m s | 0 Ulliend o small and white leghorns, 35a40 voung [ pool market had failed to follow de-} Seliing :heckx—dnlllr values at noon um: ChiRI&Pacific... 48 45 4% % |StandOllofNJ. 189 . s o 15000 Hi udson ChiRI&P6%pf.. 83 8 8 8 |StandOlINJpr. v 3 e 1. % 100 Interoations!” Petrol winters. 40a45; old hens. 29a30: smali | clines on this side of the Atlantic. | London Budapest . and white Jemhorns, 26a28: oid roos- | The close was unsettled. one-half to L . | Chile Copper. 2% 2% 2% 2% | Steel & Tube pt. 8 | 1 gen 4 53 . kl.flfl“;'bfilroltnl: . S et Lo s Denhagen | Chino Copper N4 3k 6| Sterling Products. o o ¥ “ 108 108 2400 Livingaton Pet e . poor. 16a15; pigeons. pair, 35a40. and July 1.21% to 1.21%. s 25 . ik Ry 5 300 Lone es. 5 P e e aia Smallness of offerings to arrive here ke jeccai toxl L 0% Lyons Peirns S firsts. doz. southern, tended subsequently to rally the corn ¥ 100 |20 N 5 - Butter—Creamery, fancy, market. The close was steady at a % &% | Submarine Boat. sear Tire 8 2 ; i prints, 41a42; nearby creamery, 35a |shade net lower to 1§ advance, with Montreal Columbia Gas. "": T&: P8 ottt Tete s o : % | ason sariand O/ of Siex . 37; ladles. 26a28; rolls, 23a July 63a63%. By the Associated Press. i Columbia Graph. el % 70 | Swests Co of e Trk Ry Can m s cAlin 0 i) {‘packed. 23; dairy prints, 23a. NEW YORK, May 25.—Foreign ex- | Comp Tabulator... 0% 11 ] Nttt Al 600 Mercer. O !'ess butter, 27a28. X . 1801 1 1.27%; 1.28 | change steady connnucnm.n.. 10% Tenn Coppes. K Gt Northern 3ye. . o '8 8400 Mexico Of — July 2 15 11208 Great Britain., demand, 4.44% con-'r-xzna ) DO Hy 61" 635 63% | 2000 Mexican Bewbon PR R bles, 4.45; sixty-day bills on bank; Texas Company... 43% N N 100 Mid Colomb. " Nlinois Pipe Line has declared a 'j".z" g 6 | Texas Gulf Sulphur 6% 111 Steel deb 45 91 91" 1300 Mountain Producers. semi-annual dividend of $6 a share, o8 St 0% | *France, demand, 9.13%; cables, Texas & Pacific. i Indiana Stecl 5. 3, 100 'lr;.w\!::m;_lu . payable June 30 to stock of record June | Zo1% s 6% 631, | 5.25%5. Texas& PC&OIll. 2 Intl 10000 New Tork 011, .2, ‘which compares with previous semi- OATS— Mo A ) iy Bel‘mm demand, 8.4313; cable; Third Avenue. 1. i i " 2 annual declarations of $8 a share. 's 44, Tobacco Prod. . I % Sortiwee e g Italy, demand, 5.25: cables. 5.25%. Tobacco Prod pf. ... 108 Tot MoF Mar's € 65 3200 Omar {1, Chicago ana Northwesicrn mud Fni Germany, demand, 34%: cables. - TolStLEWnplE. & 5s B. = | sho0 her Banse- 5 347 Trans Contl Oil. . .for service between Chicago and Den- Lnr:ggg‘::;t. - Holland, demand, 35.84; cables, e an Ce o o e 38.88. Del Lack & Watn. .. 4 Ki o 100 Sapulpa Ref. Norway, demand. 1S, Sweden, e T % La. 3s 23 100 8bd Oil & G demand. 25.80;: Denmark. demand, | Dorae Mines. 3 1% 5 20 400 Shell To ptd. fi{|2160: Switseriand, demand, 19.05:(Du Pont (EI). el 3 : fi20 St petwoicin - j | Spain. demand, 15.85; Greece demand, | o i man Kodak Union Tank Car of. 103 1203 .. 102 (300 Sou Pet & Rer. slovakia, demand, 1.90; Argentina, de S Alloy Stesiiiae & Loy T 10 2000 Stanton O1L. i | mand, 36.37; Brazil, demand, 13.87; L[iCaitad Deug p i 0 2080 Texon 01l & Montreal, 99%. Emerson-Brant . United Drug Tat... 4t M o ® Tu ] e Emerson-Brant pf. " TREASURY CERTIFICATES. Uoited Becati St o g‘l:c‘i:‘fi: 'lr,:lmxjn "nflu 3 In (Reported by Belmont & Co USCasticPipe... 8 : Midrale Stl cv 5s.. 914 : 4B Aatari ER ML U5 Food Prog.. .. % B E S Bign 10 Rate—Maturity. 8t . T Fairbanks Co. U S Hofman Mch.. 5% e Famous Players... 8% US Indus Alcohol. 87 K e 1ot dn to Fed Mines & Sm.... 15 | U SInd Alcohol pf.. 96% 96% Mo Pac ref 5% '23.. 100 e On s Fed Mines & Spf... 61% Mo Pacific ge ; Ay | " 31 Montana Power 9 . 4 911 15th Street N.W. 161 1516 102 1- ¥ ¥ Centrai deb oa. 1034 Y Edison ref 6ls 110 x = : S LONDON BANK STATEMENT. Utah Securities. B C ol 8 -+, Washington’s Newest Office Building LONDON, May 25.—The weekly Gen Electri ; e ey HaH e : P S 3 statement of the Bank of England |Gen Motors. 2% va-Car Ch 2 4 T Tel vef 68 41,0 2518 Cresson Cold - shows the following changes: Gen Mot 6% deb. . a-Car Chemical.. 31 ¥ e a 3000 D e e é 1| " “Total reserve, increased £182.000; . Va-Car Chem pf... 70% y . % %" 400 Dolores Enpenrans v circulation, decreased £181,000; bul- 1 1000 EI Saivador lon, increased £1.615: other securi- a ’ ’ a ’- m a n ties, decreased £509.000 posits, decreased £12.21 public S deposits, increased £5.592.000; notes ; reserve, increased 181,000; govern- 3 2 i ment securities, decreas: ,260,000. Main 4190 ¥ 430K St. N.W. "The proportion of the bank's’ re- 3 serve to Hability this week is 19.96 - Bl | per cent: last week it was 18.38 per % i cent. Whealing & LE..; Wheeling & L E bt 12 T ¥ 1 %8 iv) 10K pawRdRg '1 1 n06 g 1L v 191 39198 ] : el | ® worthington Fmp. 51 1 Rea > Wright Aero inecE bl o o o . : Call Money. H] Ef‘l:.‘”" o - 2 St o For every hour you put in your business we put an equal amount - } DALY ALES OF sTotkx 3 % 8 o in ours. & Har 138 b S I% 1w intl Mer o e ‘i in ia 2 Studying Bnuneu Property Values, | xnulhf"‘-"""" = 30 ea e e . 9 Sea s, Past, Present and Future 3 A A% A% IE e 50° 41 B 20 Sin B Developmg Ways of Financing Merdnnu o _oa,r\- _,éf- "’i‘fi Watching Merchandizing Changes kb . Knowing What Is for Sale "’Knowing; When to Bny. & "3 You Kpow Muclnndmg ‘Bring the two of us together in consultation, and you will get the right real estate for your future business, at the right price, and.on’the right sort of terms. ‘Take an Hour and Talk It Over With Us -- \ ‘And, Like Yourself, aThomand Other Thmgs We Have Got to Know - [ Childs Co.. q., pf.. $1.75 Cities Seryice' Co.; < 3 S 13% scrip and 134% in Nm-lm.n % {: % 614 Juy 1 H I:K 4::: Juy 1) 8 'naew Ol 84 ctfs. 1 ne 5% 0% um:;vgg li 25' Products 7s. o3 1084 | ny% 38 Montana Power J= i v 1 i iy d| 8§ : B B | mikig o T w il BY : :2 B uaton Leat'Cov, a1 use 20| 14 U H b4 Pean 0Oll Co., fune 30| 38 Va- 2 28 Va-Ow 9% July 1| 25 \'u—n 167 June 30| 3 wal 19 Jaty 1| o Weskern Elect : s Worthington 2 Wen A Shiners Co., a. e, B, $1.50.Juse 20 July 1 1 wotm *Correction. T Wiekw's 4 03! 93’ CUTS BRITISH COLLECTION. | _oul saies o Sonds totey ;‘3'.,.” u._m.’»m%f NEW YORK, May 25.—Federal Re-| $12,779,000 a year ago. serve Bank of New York announces . DRY GOODS MODERATE. discontinuance of collection of Brit- 'NEW YORK, Msy 25 (Special).— ish government coupons, effective June 30. The collection of these cou- pons wan undertaken' under special arrangements with the Hank of Eng- the midsummer months was land and the British treasury during|slightly more apparent in:the dry the war as an emergency measiite on| goods market today. The volume of account ‘of the high insurance rates|irade in the standsrd print cloth con- then preyailing on shipment of securi-| gtructions was not large, but prices ties across the Atlantic. HOWever.|were maintained at current levels at e Sl paints i el oo oy oo | e R mpemcitel st i tions which led to the adoption of ers z‘:‘n- arrangements mo -longer exist, "‘“l"- ok bios st yerd wars very and as adequate udum- tor the er| Sy tinued ‘.“'m“;m" “"“ et Zrom firlu-h Fities aro now & banking pLEEHLL fegzpgenges L H =55 nggvzovgiaragpsagcenss Sig5EgRtggenay “ AMENDMENTS T0 NATIONAL BANK ACT Reserve Boards, Perpetual %2 | Charter and “Calls” Affect- ed—Bonds Are Firm. BY L A. FLEMING. The bill giving a national bank per- petual charter, “until dissolved by The act of its shareholders ownink two-thirds of the stock, unless its frgnchise shall become forfeited by reason of violation of law or unless it shall be terminated by act of Con- hereinafter enacted” has ed the House. The bill now goes to the Senate whers early action 1s lovked for. Eoth houses of Congress ha ed on Senate roll 2263, known as the bill to plice on the Federal Reserve Board It carried amendments to section 10 of the federal reserve act, increas- ing the number of members of th board from five to six, adding the words “financia)” and “agriculture’ to the clause directing that in mak- ing appointments to the board the President should have due regar 0 a fair representation of the differ ent commercial, industrial and ge graphic divisions of the count striking out the language, “at e two shall be persons experienced banking and finance” and providing that no federal reserve bank should erect any building costing in exc of $250,000 without the consent Congress. The House committee offered u amendment striking out the add tional member clause and 1} striclons on reserve bank bu coste. The House voted down th ment and also one includ as one of the divisions to be duly garded. The measure is in President’s hands. While in the humor, it is bell Congress will enact the bill ing for three calls from the oifice « the controller of the currency in ar one calendar year, and perhap « tend the life of the War Finance Co poration. Advertiaing Clubs of the World. The Milwaukee advertising £ tion of the A: Clubs of the World, June Promises to be of great value There will be three sessions of tie Financial Advertisers Mornday and Tuesday, June 13. The subjects to be considered “Relation of Advertising to the Or ‘amnuon and New Business De ment,” “Institutional Advertising Its Relation to Influence on Depar utdoor Window D) " “Booklets,” “Di Solicitation,” ding eral Trust “Wills and x Value of Persistent Trust ing.” this to be handied by Alfred Flather, assistant to the preside the American Security and Trus Company. Other topics are “Formal Notices of Security lssues” “Do Investmer Bankers Owe the Public the Duty « \\s.rnms or Educating Against Fraud,” “Should a Savings Banl Have 'an Investment Department ‘Advice of Financial Editors on In | vestments,” Will_Advertisis H mall Checking Ac- Service in Support of Ad vertising,” “What Should B Told.” It is unfortunate that the date of this publicity convention should con- flict with the dates of the Distri convention, else a fair representation might be expected to make the trip. Some of the topics would make ex cellent subjects for presentation be- { fore the local bankers at Hot Spring: As it is they will have to take what information is available second hand It would mean much to bank adve tising should two or three hundre bankers =it through the session Milwaukee. Local Securitien. A few bonds sold on today’s short ses- sion of the local exchange, but the stock list was held so firmly as to prevent trades, ugiess buyers raise their bids or sellers are willing to give some con- | cessions. Sales were mdde at 935 for Gas 5s, 100 for Potomac general 6s. 100% for Potomac debenture 6s and 5% for Potomac Electric consolidated 5x i . Committees Appointed. President-elect W. A. Dexter of the i Washington Chapter A. I. B has named {W. J. Waller as chairman of the ways land ‘means committee, chairman of the House Charles D. Boyer chairman of the edu- cational committee. James A. Soper heads the audit com !mllu‘e. P. M. Garnett will look after i recruits and Frank G. Addison, jr.. will 1 conduct forum meetings. S S A | SHORT-TERM SECURITIES 1 (Reported Ly Redmoud & lu\! Aluminum Co. of Ame=. 7s 132 American Tel. & Tel. 8s, 1622 Aweri American Tobacco Co. Ts Auaconda Copper 68 1929 ‘Avaconda Copper Anglo-American, (m Armour & C. Attantic et t\x,; “esi. m_Steel 78 1923 u Pacific 8 1924 ConGas of 5 cz SNy R Copper Export "A'/ 8¢ 142 Copper Brport Copper Export Cogany P-.nm{ Co. Do Pont Tis g Procter & Gamble !eln. = Co. Ts 1925 i & 7s 101 U. 8. Rubber Co. Fretern Electric 7n |m | Westinghouse Elec. 7s 198 HIGHER CLOTHING VALUES. NEW YORK., May 23 — Increased plece goods quotations have placed | clothing manufacturers in an unen- | viable position. Manufacturers do not relish advances in clothing values at this time and it is said that many of them have figured their fall pric so close that it will be impossible for them to absorb advances. It will be difficult for manufacturers not suf ficiently coverea on their piece guo requirements to average their prices to keep within present figures. ORI WILL OPPOSE POINDEXTER OLYMPIA, Wash., May 25.—At the democratic ‘state Convention Yester- day C. C. Dill of Spokane, former representative, announced his candi- dacy for the nomination for United States senator. He will seek the of- fice now held by Senator Miles Poin- dexter. =5 #"g:;‘ L camolEan g S | qggaqa