Evening Star Newspaper, June 2, 1922, Page 28

A cigar "chuck” full of real qual- ty — mild — mellow tobacco. A cigar you can smoke with infinite pleasure and hand to your friends with pride. At all— SAYS PRODUCTION OF ‘2 IS GREATER Detroit Banker Also Secs More Canserva- tism_in the Motor Busmess——Con- < ditiqns Elsewhere. : : BY PHIL S, HANNA. l:lt”;lanf Skles Lo hbrlu. out a volume sinéss which will offset recent Special Dispatch to The Star. {dullness, Ma; DETROIT, June 2.—Who 18 buying [l the gatn’ mams " curiin ntsined all the automobiles? That is a ques year and wholesalers and jobbers re- N aver #oma ot t' manufacturers [ Bort & decided increase in orders for cannot answer. leading banker h‘;:‘:‘r:“;le'lhery. aSollections. have sfactory, v sald today, In response to that ques-|in the prices of )ngrl‘:::l:?lr‘l';!p:gd:::: tion: “I do not know who is buying them, The, effect of the coal strike’ 80 far in the southeast has been negligi- but I do know they are being bought and pald for quicker than at any ble. Manufacturing plants are run- ST A Hime since T have besn An ODROTYOr I oF THoRIley T p e ond motumte of the business. And you may tell the world that rhore conservatism is being injected into the management Sales of farm implements are far ahead of those of last year, reflectng of the automobile companies than ever before. When or {f another; a better feeling In the rural dis- tricts brought about by twenty-cent slump comes along niost of them will have buflt 2P large reserves against cotton and better prices for other commodities. Bullding actlvity throughout ‘.he sdutheastern states continues its activity on an even greater mln and the lumber and brick manufac- turers are reaping the benefits. The general betterment here is shown in the Increase of bank clearings, which for May showed an increase of | $8,000,000 over those of May, Ii2l. Demand for Workers Brisker Than for a Very Long Tlme BY J. N. FINING. Bpectal.Dispateh to The Star, ST. LOUIS, June 2.—As commerce in thip district gains momentum there is & general call going out for more workmen. This demand for workers is brisker than it has been at any time since the beginning of the eco- nomic reaction. All lines of manu- facture are increasing production, and warm weather has given new impetus to wholesale and retail trade. In response to the growing buying power, wholesalers and retailers are augmenting thelr stocks, and the manufacturers_and jobbers are just beginning to feel the effect of this long-deferred buying. Money is more plentiful. rates on loans for commercial pur- poses are sub-normal, and large cap- J;.u:llon of automobiles in this uuuon probably is greater now than it has ever been and Froflt- are going to make a very satisfactory compari- son with those of 1920 notwithstand- ln% lower selling prices. he eémployment report this week shows another large galn of 4,600, men, bringing the city’s Industrial totai up to 255,000, or 82,000 more than were employed in the Lorrespondlnfi period of 1921 and within 35,000 of the hlfh water employment mark of 1920. Another outstanding feature lIs that heretofore May 15 has marked the crest of the automobile manufactur- . In the last two weeks of May, 1921, employment fell off 7,000 men, yet this year the trend is still upward. May Trading Holds All Gain Made Earlier in the Year BY ESTES DOREMUS. _ Special Dispatch to The Star. ATLANTA, June 2—Continupus rain this week served to check tem- porarily the imp¥ovement in trade conditions in this section, but re- tallers and wholesalers have lost none of their optimism and expect ital is investing generously big Studebaker Our Best Salesmen Thetr knowledge, based on actual ex- perience, is the best Sales Argument we know of—and one reason why— tudebaker —is doing the Record Business of its history With everything a good car should have — with maximum power, speed, quality, dependability and flexibility —with minimum upkeep — with low first cost and fuel consumption—why shouldn’t this be ‘“‘a Studebaker year’? Compare it with ANY CAR IN THE WORLD—then buy YOUR Studebaker. JOSEPH McREYNOLDS President Commercial Automobile and Supply Co. 817-819 14th St. N.W. Washington Is a Studebaker City Franklin 3075 Main 319 Telephone building enterprises, and alfhough general construction 1s going fo; ward on a big scale the capital sup- ply has responded readily to the de- mand. The tone and trend of commerce | throughout the south and west are approximately normal. Only unfa- vorable features are apparent. One is the growing need of fuel supply in manufacture and the diminishing lof production due to the strike. An- other is the possibility of railroad ! strikes in opposition to wage, reduc- tions. Commodity Reports From Various Sections Lumber. SEATTLE, June 2 (Special).—De- cided shortage of lumber In Pacific northwest is forecast by manufac- turers at a time when there®should e 250,000,000 feet of logs in the west ready for consumption. Visible sup- ply is less than 50,000,000 feet. = wners a' PHILADELPHIA, June 2 (Special). —Retail stores are moving large quant; s of shoes at low prices. These stocks represent either surplus goods of manufacturers or bankrupt stocks bought at low prices. There is an increasing spot demand for white shoes. Manufacturers at pres- Fleischmann’s , -~ fresh yeast Ue ne ew Dodge Brothers Cars While We Paint Y ours We paint all makes of cars and we furnish you a car at a cost not to exceed the amount you pay to operate your own car and give you a paint job equal to, if not bet- ter than, the original. - Upholstering, Slip Covers and Top Work SEMMES MOTOR COMPANY 613-619 G St. N.W. Pl:one Mun 6660 P-nr KANBAS CITY, June 2 (Bt’sclnl).— Dealers in this section have experi- enced an increase of almost 25 per cent: in volume of 'stationery sales so far this year. Shirts. DETROIT, June 2 (Special).—Retall haberdashers here are having diffi- culty in getting seasonable goods. The local branch of a nationally known shirt and collar company fs being besisged for deliveries and is almost out of si Officials of this company are predicting a shortage. Business of the branch san 308 per cent above 1921 for the first four months. of this year. Dry n NEW YORK, 2 (Special).— Wholesalers axpee! volume of bus! ness from retall buyers will steadily increase during June. Buyers are now coming Into market for late summer goods and fall merchandise. PITTSBURGH, June 2 (Speclal).— Retall dry goods trade has taken a de- cided spurt here and department stores are doing a good business in seasonal goods and wearing apparel. Rubber. AKRON, Ohio, June 2 (Special).— Officials of local rubber companies declared production- at Akron plants would be increased if more experi- enced tire builders were available. Akron companies are advertising in o!her cities for tiremakers. Leather. 'PHILADELPHIA, June 2 (Special).— Demand for sole-leather is increasing, and this Is taken to Indicate prepa- rations for renewed activity on part of shoe” manufacturers. Two out-o town buyers recently placed orders in this market for a large quantity of sole leather. Canmed Fruit, DETROIT, June 2 (Special).- ern Michigan canning acting on the outlook for bump fruit crops, are laying plans for the most extensive operations in several years. Thomas Canning of Grand Rapids {s writing strawberry con- tracts at 31 a case and plans taking all the berries offered within fifty miles of its factory. Paint, CLEVELAND, June 2 (Special).— Sherwin-Williams Paint officials and Tropical Paint today predicted a Interest | igher schedule of paint prices late this summer. Automobiles. GRAND RAPIDS, Mich., June 2 (Spe: cial) lacing of an order for $12 000,000 worth of closed auto bodies by Durant Motor with Hayes Ionia of Grand Rapids has brightened busi- ness outlook here. Hayes Ionia plans to add about 60,000 feet of factory space and take on 500 additional em- ployes. Steel. KANSAS CITY, June 2 (Special).— The Katy has placed an order for 30 steel coaches-and 2,500 freight cars. The new rolling stock will cost ap- proximately 35,500,000 and will in- clude 500 automobile cars and 200 re- frigerator cars. DULUTH, Minn., June 2 (Special).— When Minnesota Steel is brought to full capacity this ~month plants will tdrn out approximately 1,300 tons of finished steel products a’ day. Buriaps. NEW YORK, June 2 (Spécial).— Market for burlap is very strong here, in reflection of advances in Cal- cutta. There is ample demand for dis- tant afloat goods. Notes. AKRON, Ohfo, June 2 (Special).— Merchants here report greatly increased sales and better business as a result of wage increases put into effect by Fire- stone Tire and Rubber. It is felt that while other rubber companies may not % ummmmmunmmmmmmnnnnmmnmmnmnmm"... | i around Marmons for two afi"mm”:.mml BOSTON WOOL ACTIVE. l T e termont| No. Slackérig im Firm Trend Ancreased, ‘wi of buylng power. - FALL RIVER, Mass., June 2 (Spe- cig]).—Fall River and Norfolk Steam- -m n ue' dine which will carry cotton 1 merchandise between Nor- folk lud lhll place, 18 expecxed to put two steel ships of 2,500 tons each in commission b! June 15, scheduling semi- weekly sailings. ST. PAUL, June 2 (Special).—More than 1000 building permits invelving expenditure of about $3,000,000 were ! sued In St. Paul in May. This is a tremendous increase over building op- erations for May, 1921, consequent - bettermert | 'Washmgion Stock Exchange | l l | ‘ G Money—Call 1oans, Ga6 per cent. Ameri Capital Traction SALo00 at o8, seiingion Heilway add Eiectric 4s—$1,000 at wital ’n—.um— i at 9834, 3 at 98 Haitway and Yiectric com 4035, 25 b ae Mok, 35 at 40 25 at 4053, nd' Electric ptd.—1 Lavston Monotype—100 at 77, BONDS. Bid and Asked Prices. PUBLIC UTILITY. CEET LT sasty 22 FaER 258 s:'i‘smi: Wa 1 Washington Gas 5 Waslington Gas 7ig: Wasington Rwy. nd ki3 90y STOCKS. UBLIC UTILITY. American 'ml, and Telgs 1 Capital Tract BRI 4 0% 165 210 250 150 168 Capital . Columbia Commerciai rict TRUST COMPAN American Security and Trust. Wuh&n(lunn&gclun FIRE INSURANCE. Columbla Tide Real Estate Titie MISCELLANEOUS. Columbia Graphophone com Qeumbatiafspheckone’ it 75 Crranster abd’ Siorage 100 Mergenthaler Linotype 0ld Dutch Market com 0ld Dutch Market pfd. Lanston Monotype Becurity Storage . Washington Market Yellow Cab *Ex-dividen: PROPOSED MOTOR MERGER. ROCHESTER, N. Y., June 2.—An- nouncement of a proposed merger of Selden Motor Truck with Atlas Truck and other-companies engaged in the manufacture of motor trucks, the names of which have not been an- nounced, into the Industrial Motors Corporation is made by George C. Gordon, president of Selden Truck, at the home offices here. The amount involved in the merger is not known. ew ' York capltalists, according to Mr. Gordon, will be in control of the new corporation. FINDS TANNING IS OFF. NEW YORK, June 2—A distinct slackening of activity among tanners, both in the east and Jn the middle est, is reported by the Federal Re- serve Board In its summary of condi- tions in the leather industry. Sales of belting and harness leather were well maintained during April and the first half of May, but business in shoe and glove léathers was dull.. Chicago district reperts that such demand as exists for shoe leather is for patent, glazed, black and sport types for women'’s wear and side leather, work shoe leather and calfskins for men's shoes. - Price-cutting has developed in Philadelphia, where gole leather trade has been of only moderate size. Among upper leathers there is a large demand for patent, some lm- provement in sales of calf, but a ve poor call for kid. The growing im- portance of St. Lois as a shoe manu- facturing center is evidenced by the fact that 32 per cent more business was taken in the first four months of this year than in the corresponding period of 1921. FALL GOWNS RESPLENDENT. NEW YORK, June 2.—If fall styles in women's wear are any indication, the country will have plenty of money to spend at that time. Paris is spe- clalizing in the most expensive ma- terials, and using gold anq silver ef- fects with a lavish hand. 'Instead of decorative effects being worked out in mere strings of beads, the de- | signers are going In for massed ef- ects. The general lines of the costum: will remain the same, it is said. cos 1y trimmings being the chiet chang: Considér a Marmon Today’s interest centefs . America’s favorite fine car of Prices. BOSTON, June 2 (Speclal —-E.l.r]y réeports from the rsnuuu of the San Kn(elo. Tes wool sales today in- x“f‘h pflcel of the first lllu 'er. bc!n! ‘maintained and buy- ers {n the middle wi continued to scramble - for the best middle west enp. nt _prices -round 50 cents markets, esp Zially Brisbane, continued strons with considerable bun(neu for American here are being m ity and. with, no slackening in the firm trend of prices. WEAKNESS ON CURB ON PROFIT-TAKING By apecial Leased Wire to The Star. NEW YORK, June 2.—There were some wide fluctuations on the curb exchange today. At the start prices were higher on continued commijssion house buying, but later profit-taking and some sell- ing by professional operators who ware preparing to even their accounts over the week end, caused a partial recession. Standard oils attracted most of the attention in the oil group. Imperial Oil of Canada ran up sharly, but later felt the effects of realizing sales. Standard Oi] of Kentucky also fell back after establishing a new high in_the early dealings. There was some reaction in_ Ohio 0Oil, but Standard Oil of New York and Prairie Pipe Line continued their ad- vance. - In contrast to the strength elsewhere was the conspicuous weak- ness of Kirby Petroleum, which broke badly to the lowest yet reached. On the other hand, Mutual Oil was active at a new high and Fensland and Simms Petroleum were steady. Tobaccos Weak. sympathy with the weakness of tobaces Biocky on the bik board, the curb_tobaccos were freely supplied. Among the motors, Durant old stock was _higher, Hudson Motors held steady, while Reo and Cleveland were slightly lower. Trading started in North American Steel, the company which is to take over the Midvale, Republic and In- land companies. The common stock reacted from its initial quotation. xmsng stocks were Very irregular. BONDS WERE SLOW AND UNCHANGED NEW YORK, June 2—In today's bond market the general price move- ment was mixed. Trading began in a few issues successfully floated by banking syndicates, and outside in- fluences such as the advance of ster-| ling exchange were plainly felt. The bardening of the gall money rate had its effect “on the dealings, causing further irregularity and dull- ness during the first hour or so, after which many bonds were inclined to strengthen. The sharp rise of United Kingdom 5%s of 1922 apd 1929 to a new high price for the year was the logical ac- companiment to the upward swing sterling. The new Republic of Bolivia 88 were admitted to trading on the stock exchange and sqld at a slight premium above their lssue price of 01. I101 French Bonds Steady. It was French Republic issues that remained around their closing prices of Thursday, while there was strength in Brazil 8s, Denmark 8s, Netherland 6s and the Japanese bond: The Secretary of the Treasury an- nounced that the books have been closed on the $200,000,000 issue of the 31 per cent Treasury certificates of indebtedness, maturing December 13, The movement of railway and in- dustrial bonds was uncertain. A number of active railway issues were still reactionary. The Erie convert- ible Bs encountered profit taking again. Peoria and Eastern incomes, Frisco incomes and Seaboard adjust- ments gained ground. —_— DRY GOODS TRADE LIGHT. N. Y. Prices, However, Reported ‘Well Maintained. NEW YORK, June 2 (Special).— Trading in cotton goods was light to- day, especially in the morning. but prices were well maintained both for Iprln( cloths and sheetings. The gov- ernment raw _cotton report Wwas eagerly scanned for its probable ef- fect on the goods trade, and some or- ders were held in abeyance until the trend of the new staple throughout the day could be determined. The de- ¥ | mand for 64 by 60 and 68 by cloths was light. Sheetings w steady, with orders for small lots in evidence. Business was recorded in Osnabergs, pajama checks and some fine yarn goods. No activity was in evidence in the raw silk market, the dullness reflect- ing somewhat the lack of demand for future deliveries of broad silk: among the manufacturers. IDLE CARS DECREASE. 'W YORK. June 2.—Reports by carfservice division of American Rail- Way shows that on May 23 there was 504,702 freight cars idle because of business conditions, compared with 512,196 on May 15, a decrease of 7,494 cars. Of the total number idle 329,634 were surplus freight cars in good repair in excess of current require- ments, which was a reduction of 14.- compared with the previous The remaining 175,068 were freight cars in bad order in ex- cess of the normal number unfit for service, Surplus coal cars numbered 208,691, a reduction since May 15 of 9,775, _— PAYS $500,000 FOR LEASE. NEW YORK, June 2.—Forced by growth of its business to forsake its present quarters, Manhattan Shirt has Jeased the eleventh floor and part of the twelfth floor In the building now being erected at the southeast corner of Madison avenue and 47th street. The lease is for a period of ten years at an aggregate rental of about §500, MARKET LEADER Money and Sterling Higher. Pool Activities Successful. Weak Spots. BY STUART P. WEST. NEW YORK, June 2—A further re- markable rise in sterling exchange, rather pronounced hardening in the money market, and a government cot- ton report showing a condition high- er than last year, but still consider- ably below the average, were the chief Points of Interest in the financial situation today. Sight drafts on Lon- don got across $4.47 for the first time in cthree years. Exporters with requirements to cover later on and large speculators have evidently rea- soned that having gone on through the level at which it stopped at the outset of March and at which it held during the greater part of May, the sterling market was starting on an- other important upward swing. Money 5 Per Cent. The renewal and call loans were pushed up to 6 per cent. the highest in more than three months. This had the effect of curtailing offerings of time money, and whereas & month 2g0 lehders’ were putting out fund at thirty and sixty days at 3% j cent, and a week ago at 4 per cent they were holding off today for a minimum of 4% per cent. In view of the fact that the federal res is sull moving up and counts are not incr stateménts for the a decrease of $15, 5 that increasing t requirements are not the influence at work. Pay- ment of taxes and the rise on the » doubt, are to som extent resp but these are more than min {,, Mainly the higi | the result of T y withdrawals plus the ingathering of funds needed in the June 1st corporation disburse- ments, and hence are temporary in their effect. Action in Stoel It was another day of Tively fiuc- tuations in the stock market. Bu along with numerous sharp advanees in parts of the there went equal- 1y sharp declines in other part Wall street was so puzzled over the terms of the Republic T Inland Steel merger th until 1 o'clock that in the mew North Company shares when Republic Steel i heavily sold for ! but rallied later, ped by the great Eircamtn of Dailed thates mon, which sold at a ne the vear. Assumption of leaders common, the new Studebaker and the cess of pool operation of specialties we dents from a spe For the tim j served to dist break in some like Tobaccos, Cocr of the American o Various Weak Spota. While there w. jcampaign in m: ues, were a nwnber of ent favorites which came down suarply. It is the procedure of the mofiern market to have its reactions by individual! stocks and groups of stoc as well as its vances. It is because an upward m, ment nowadays corrects weakness and in this oney rates are t hour or so, ing a high record, closed that Cocoa Co 5 points, and Ame 7 points from troleum was given today stesm in specula- bject of mergers An object that the who tive circles on the is confined to g to bring wi ntiment. Bo public Iron ana Steel_started on Thursday, ‘quickly set in, stocks down swif dictions as to wha various sha would be worth when tak merger were proved 1o b excessive. A lot bought Republic on be taken in on te work out betw present common st bought in the san least 50 and izh traders who h found themselve peculative pre- ribbon - | be adopted by turers for their projec campaign and contest stimulate consumer interest in rib- bons. Ribbon interests already ha held three or four meetings to discuss the plan, and announce the formatior of a temporary committee to carry the plan further along. The ribbon in- terests feel that more definite policies along the line of merchandising rib. bons to the consumer are needed for the industry which machinery investment of $2 pable of producing warth of ribbons each year. lx is hoped to inaugurate the campaign in time to make some impression on the fall season>which begi oon, in manu- facturing and wholesaling fields. EXPANSION BY PARRY. NEW YORK, June 2.—As a result of the large business whch the Mar- tin Parry Corporation has had from the automobile boom. that company’s management has found the enlarge- ment of its plant capacity necessary and expansion of that sort is in progress. It is reported the corpora- tion expected sizable new business from two truck manufacturing con- cerns whieh are planning to consoli- date. The interests allied with one of. those concerns, it is said, were affiliated with the Martin Parry Com- pany. BOURSE CLOSED JUNE 5. PARIS, June 2.—The bourse will be closed June 5, Whit Mond: designed to —no néed to content your- self temporanl)/ with a lesser. Investigate now— place your order early, so as to insure early delivery. helps digestion and - cleans a coated tongue ’Immmdmdmhnm nfloudignfin disturbances by-:: hhhummmwfitofindm o @s science can tell us thisie the reason: - oo Fleischmann’s Yepst is a food abundant in certain ele- inents which are necessary to hesith and life itdelf. It mmhdmnfldmmum wwaummm“ ~-n.hchnu¢-dm 7 orange juice or, if and maited reasons: Reductionin price to $3,185 and Standardized Service, the new-day -sys- terfi of economical mainte- nance. You can now own OFFICE SPACE In The Edmonds Bldg. Harry Wardman 430K St. NW. | ‘Try Fleischmann's fresh yeast in *+ you prefer, in milk. Men like it in milk shakes and nthl-hwqu- 4 Eeep yobr digestion in m- 4190 +