Evening Star Newspaper, July 17, 1922, Page 18

18 STEADY MARKE DESPITE STRKES Some Early Selling Followed by Better Tone. Trade Dull. BY STUART P. WEST. NEW YORK, July 17.—The stock market could not escape today the un- settling effect of unsatisfactory news ‘ regarding the coal and railroad strikes, but as soon as traders deter- ¢ the situation was at least ™ disturbing than én Saturday s succeeded the the firm tone of pric first hour's irregularity. The action of the market was in 80 spects rather surprising ‘rtain events of apparent cconomic independence. The ability of the ofl company I8 aues to throw aside the iniluence of dditional reductions in crude petro- ;‘um prices in th east sugg»sl‘ed[ both that the general reduction of thr @il price level had been discounted Jast werk and that the excellent de- ‘mand for particular refined products was supperting speculative confidence in the future Y As far as the strikes were con- cerned. the market saw clearly that sboth government officials and partici- ants in the controversies were anx- bus to find some points of contact, and this meant hope that scttlements In both troublesome situations might be found short But the threat of track workers to follow the shopmen menaced the entire outlook and it was doubtful if speculators in securities based their commitments either way on strike information. Call Money, 3 Per Cent. of money showed that the » The actl d that th learing house bank statement, < - ird.u had been clear in its forecast of ¥ates and supplies for the forepa the new week. Call money was fent for the renewal of standing loans. If there are forc working for tight motey before the usual autumn require- fents draw thers surely are no évidences of s While the Ju acted to carry the deposits of clearing house institutions in New York about he level prevailing 123,000,000 under t :firV) in June, the heavy back tlow .uf funds {rom tie interior, reported In the Inst few days, shows that other citles Ave able to meet calls upon them and #till have an abundance of money to be lent temporarily in the metropol Ore of the ou 1ding demonstra of this year's business readjustments has been the ease with which member banks have taken care of their customers und at the same time possibly reduced their commitment at reserve banks. The bond market continued to feel the eupporting influence of easy money. The demand for liberty bonds and for cor- poration uy toda vhile not . 30 vigorou as las . was never- theless indicative of the strong invest-| ment position. Specialiats Nervous. The opening hour witnessed quite| & reaction in the oil stocks, and spec- wlation, which is shaped to a degree, brought some oil by momentary fears, selling into the specialty group of |4 industrial i Allied Chemical, which probably was affected by the chance that Ger- man dres would not be embargoed | under the tariff bill. lost 11 points| or so, and good sized fractions were | lopped off Americhn Can. a favorite last week. and several of the steel | ues Short _selling. hardly enough res however, brought ults to make it pay in any direction and when Crucible Steel was bid upward with much { force toward noon, the entire market took on a better appearance. ~ Baldwin Locomotive went 10 a new Bbigh record for this yelar and Amer- ‘fean Locomotive approached its best level for 192 It would be possible to deduct optimistic probabilities for the railroads from the recent action of equipment company shares. ‘The speculative community hardly is ex- pecting a long-fought and destructive strike when it is able to buy the _equipments with the confidence dis- played last week. H . Equipments Still Lead. The equipment stocks which started | upward on Saturday continued to be| the feature of the market again to-| ‘day, most of the members of the .&roup scoring further gains. * Baldwin Locomotive made a new high record for the vear and was in demand right from the start. © With the settlement of the coal ‘strike an increase in car loadings of ‘some 100.000 a week is expected. This would bring car loadings up «lose to 960.000 a week, and would ‘quickly_eliminate any surplus of idle | <Qars. Should anything be needed to| atimulate railroad equipment buying, Ahis in itself should be a factor. An Old Favorite Returns. Without any trade reasons to justify | ts advance. Crucible Steel continued to move ahead today, making a new jhigh record for the year, while the other members of the steel group JFere doing practically nothing at all. !Crucible Steel always has been a mys- ‘terfous mover, and. while the present Rctivity might suggest something special in Crucible’s situation, it is anore likely that-the usual short in- !eresl has been trapped. . Strong at Closing. Business was exceedingly dull throughout the afternoon, but it was noticeable that traders who wanted American Can, Allis Chalmers and he equipments had to bid for them. Reveral new high records for the Year were estblished. 7 The pool in American Can showed Zhat it had as strong grasp on its favorite as at any time last week, Fending the price above + The copper stocks were apathetic, womewhat strangely so in view of #stimated trade that June had seen Fecord sales of the metal with a turn- @ver of 170,000,000 pounds. ©-The quiet state of trading was actically the only indication that Rthe market was influenced by the great strikes. 1 ¢ The Injunction against selling| Htocks on strike news, which has pre- Failed for many years. was effective FINANCIAL. ’ i {Picce of fresh financing today was a ¥ i S 1 WOOL CONTINUES FIRM. No Radical Price Changes Are Ex- pected at Present. BOSTON, July 17 - (Special).—The local wool market maintained ita firmness of tone tod No radical changes n prices are expected elther upward or downward by dealers at present. Replacements costs are firm Jand dealers are loath to shade their loflerlnz prices to mills. The wools of the west have aiready all passed out of the hands of growers, although some pools are still holding In the hope of better prices. Some scattered Texas clips have been disposed of in the last week at a (rifie above the late sale figures. The shipments of wool on constgn- ment to this market have not yet started, however. HIGHER PRICES FOR ) « LIBERTY ISSUES NEW YORK. July 17.—The advance In the United States government war loans and the standard railway sec tions of the bond list were the out- anding incidents of a moderately active bond market. New high pric were numerous, especially among the rails. Most of the liberty bonds rose to their highest for 1922 under the continued influence of easy money conditions. and this buying of gov- ernment securities remained a stim- ulating factor in all the dealings. oan the first two hours liberty issués 50, we! above Sal ay" c] aold i Saturday's ~ closing After midday, however, they mov g . they moved upward to their best prices, in one or {Wo instances to record quotations for all time. Industrial bonds were sirong, although in this division as e n foreign loan; ity ol ant & s irregularity There was a_comparatively small toial of new offerings. The largest loan of $2,000.000 for the account of the province of Columbla, Canada. The bonds run for two years and bear o per cent interest. They wera offered At 99% to vield about 5.35 per cent. The Watub Paper Company first )riguge twenty-year 6% per cent sinking fund gold bonds were fairly well taken at 941 and interest, yield- ing over 7 per cent. Annocuncement was made that bids are to be opened ut Washington July 25 for two bond issues of the Philippine govérnment. One will. be for $5.000.000 and the other for xm.cop.uuu The former Is to be known the Philippine Irrigation and c Works 43¢ per cent loan. The 000,000 offering will provide money for the general treasury. Both issues will be due in 1952, Rail Tswoew Firm. The gains in the milway n secti were suicient (o carry a namber of favorites to their highest for the year. Included among them were the New York Central _refunding b&s w Issued, Great Northern si,s, }te:d?r:z 48 and Missouri Pacific 6s. Northern Pacific 63 crossed 63. —_— SALE: 000 at 45, $500 st S'a. $1.000 at 981, ‘5. Metropolitan s st polifad Se—$1.000 at 97, $1.000 at 97, Potomac Electrh $1.000 At 93, $1.000 at ;. 0w Pn000 at 95, Capital Traction—7 at 101, 10175 0 To1, 10 ae o1, 8 aedor S 2 Washington Railway and Elect ™, 25 at 55. 25 at 55 say and Electri - e Tt (o . Washington Gas' Light—25 st 57%. 15 at 577 Lanston Monotype—20 at 79, 20 at 79, 10 t 79, Mergenthaler Linotype—8 at 150, 10 at 130, FTER CALL. com.— Washington Gas 5 " at 9t $1oon at Sz 000 at 94%, 31,000 A Traction 55—3$1,000 at 981, $1,000 Money—Call loans, 586 per cent. BONDS. Bid and Asked Prices. PURLIC UTILITY. at Bi American Tel. and Telga 4 ik AT American Tol and Telga. 45a.. 100 ° 10144 Am. Tel. and Tel. ctl. ir. 3.0 98y 99 Am. Tel and Tel. conr. Ga.... 114% 118% Anacostia and Potomac & 90 Aracostia and Potomac guar. 55 87 C. and P. Telephone 5e. C. and P Tel. of Va. 5 Capital Tra, Metropolitan . Bn. Potomac Electric 1st 5 Potomac Electric cons. Potomac Electric deb. 6s. Potomac Flec, Power g. Pot. Elec. Pow. 5. hington Gas 7 4% Washington Hwy. and Riec. 4a. 78 Wash. Rwy. and Elec. g. m. 6o, 99% MISCELLANEOUS. Rigke Realty 5o (long)., 22 iggs Realty wos % STOCKS. PUBLIC UTILITY. American Tel. and Telga Capital Traction ashington Gus Norfolk_and Was Waxh. Rwy. and Elec. com. Wash. Ewy. and Elec. ptd. Terminal Taxi com. 3 Terminal Taxi pfd. ATIONAL BANK. American Capital Columbia Commercial District National Baok. Farmers “and Mechanice’ Security Seventh - Street United States 8 hington Mechanics’ FIRE INSURANCE. 225 American 4n holding down transactions for the fi’ll of prices and, by the same token, yers evidently were averse to mak & extensive commitments in ad- “ance of constructive news about Shese strikes. - Exchange Heavy. + The forelgn exchanges were some- wwhat heavy, but there were no par- flcular features attached to dealings. n view of the news from London &hat the British authorities had about given up expectations that the debt o America would be canceled, an in- leresting question is raised regard- & the recent decline of sterling. + As significant financial develop- ents frequently are reflected in the arkets in advance of actualities, it s possible that the fall of sterling from above $34.51 discounted disap- pointed opinions about the debt. 4 —_— - COTTON MARKETS. : NEW YORK, July 17.—An easier Hone was noted in the cotton market arly today because of predictions r showery weather in the south- est. where rain is needed. First prices were 16 to 33 points lower, and the market was under pressure from he south, Liverpool and Wall street, with commission houses and the trade_the most active, The cables #nd European financial news were Tather bearish, and after a rally of a few points the market again became vy, with October declining to 22.27 d December to 22.13. Futures opened steady: July, 22.20 ssked; October, 23.30; December, $2.10; January, 31.80; March, 21.73. + NEW ORLEANS, July 17.—Poor pables and continued favorable crop accounts, especially from Texas, caused moderata x~ g * the cotton arket today and in the first hour of he seesion the trading months lost 37 to 18 points. October fell off to 4. The tone was steady at the line because of the more favorable mewa relating to the rail strike, * Futures opened steady; July, 23.09; Detober, 21.74; December, 21.60; Jan- 31.37; March, 3113, Corcoran Firemen’ tional Un! TITLE INSU Columbia Title . Real Estate Titie . MISCELLANEOUS. Columbia Graphophone com. Columbia _Graphophone pfd. Merchants' Trans. and Stora, Mergenthaler Linotype 0ld Dutch Market com. 0ld Dutch Market pfd. Lanston Monotype - Security Stors Washington Marl low Cab *Ex-dividend. % July 17.—Orders have been placed by the War Department with Goodyear Tire and Rubber, Inc, for the first semi-rigid airship ever Dbuilt in this country and for five non- rigid dirigibles, all of them equipped for use of non-inflammable helium gas. The big semi-rigid ship, which is to be 300 feet long and have a 760,000-cubic-foot hull, will . be _the first also to be built as an airplane carrier. Airplanes can be carried on board the dirigible and dropped or picked up while in full fight. STRAW HATS FOR 1923. Straw hat makers have completed men have been on the road since July 5, when the lines were opened. They will be away for about five weeks, being scheduled to return about Sep- tember 1. The greater bulk of re- tailers’ orders is expected to be re- celved during this period, and the manuf-ctursre plan their production schedule on the basis of orders re- ceived. In the eastern section, sen- mits are again expected to be in most demand, but the west and south are large users of fancy brald straws. Msnufacturers say the current season has been ‘satisfactory, both from their viewpoint as well as that of the re- tailer, Washington Stock Exchange | IS NOW BID FOR Three Points Above Last Sale—Stocks and Bonds Are Firm. BY L A. FLEMING. While there were no transactions in Ratlway common this morning, & nominal advance of 3 points in the bid price is an evidence of the gen- eral feeling on the street regarding the shares, This made the bid price 654, while the asking figurea were 55, indication of acloser approach in views of buyers and seller: So far as the prospective sale of 27,500 shares of this stock neld as coliuteral back of the Utilities notes {15 concerned, there were no new devel- opments toduy, but sentiment on the street is strongly hopeful that ne- gotiations will eventually be carried to_a succeseful conclusion. The preferred shares were just a {shale easier, with sales of 70 shares {at 2 | Capital Traction was sirong at 101 | tand fairly active. Lanston shares brought 79, and Mer- genthaler 150. {5 Washington Gas was traded in at 1%. in all a matter of $16,000 bonds were sold, face value. Prices held well to a slight concession in buyers' favor. Capital Traction 5s brought 98 to {98%; Potomac Consolidated 5s, 95, and Metropolitan R. R. bs, 97. Steel Head's Prediction. Just before sailing for Europe on Saturday, E. Grace, president of the Bethlehem Steel Company, said: “I hope when I return that the two strikes now beginning to make themselves felt in the industrial world will be things of the past. If they are, good business will not be wanting. All industries in the country have undoubtedly been affected by the strikes. Western Union Earnings. For the first six months of the cur- rent year Western Union Telegraph made net earnings of 35,682,863, equal, after charges, to $5.69 a share on the capital stock. The second quar- ter of the year showed a remarkable recovery in business and saving in operating expenses. Usually the final quarter of the year, including the holidays, is the best | quarter in the telegraph company's year. Otin Elevator Prosperous. Otis Elevator Company during the first half of the year earned, net. $1,185,522, after interest, deprecia- tion and federal taxes. This made the dividend on the preferred for the semi-annual periods and left $6.96 a share for the common stock. Personal Mention. Charles J. Bell, president of the American Security and Trust Com- pany, left today on his annual sum- mer fishing outing to Canada. Mrs. Bell accompanied him. She can han- dle a salmon fly and the fish itself| just as good as the next one. Ernest E. Herrell, late vice presi- dent of the Merchants’ Bank and Trust Company, today assumed his new duties as president of the Inter- | national Finance Corporation. OILS WERE SOFT ON CURB PRICES NEW YORK, July 17.—An aceumu lation of selling orders over Sunday apparently a belated response to the reduction in the price of crude oil. caused reactions in the leading oil stocks on the curb exchange today. After the lower levels had been ea- tablished recoveries took place in some issues, but the best demand came from the professional floor traders, who were sellers of these stocks a week ago and who apparent- ly were covering their short obliga- tions. Trading was considerably smaller in the afternoon. High Grades. The high-priced shares were the chief sufferers when the selling was in progress. This list embraced | Standard Ofl of New York, Galena | Signal, Standard Ofl of Indlana, Inter- national Petroleum and Anglo-Ameri- can. Cities Service old common was the weak feature of the independent group, while the bankers' shares acted | in sympathy. i Fractional losses were recorded in| Mutual Ofl and Skelly. New Eng- land Fuel was an exception, advanc- ing to a new high record on the an- nouncement that the company, which Is operated by the Magnolia Petro- leum Company, a Standard Oil sub- sidiary, had brought in a new well, the Cruz No. 2, in the Panuco field, & district which is considered free from the salt water menace because of its geological formation. Motors and Radio Gain. Peerless Motor was the feature of the miscellaneous list, being in urgent demand for a time and advancing several points. Dubiller Radio was firm, and there was fair buying in Radio common. Hayes Wheel, Gil- lette Safety Razor, Goldwyn Pictures and United States Retail Candy held steady. Mining stocks were active and firm. Ray Hercules was influeficed by the statement of the managing director that mining and milling operations will begin soon. RALVAY MR | Potatoes. |75 | quart, " 20a: OH, DAVE | WHAT KNG GEORGE AnO HAVE INVITEO US B DleCCAAT BUCKINGHA™M "P’Al.:fz,mmn or! $'P0SE \'VE GOTTA R& e 0P s KNEE Brivcues! 1'LL LooK LIKE AT‘:QB‘;;; WHAO™ 1N TH O TH BatK Home WouL0 SAY 1F THE Y KHEW. 1 WORE KNEE BRITCHE. THEY D K10 T LIFE. WHAT LL | TALK ASouUT 7 LIKE THIS — Grain, Produce GRAIN AND PROVISIO BALTIMORE, July (Special).— new, barrel, 2.5023.00; 100 pounds, 4 75a1.00. ' Beans, bushel, 65al.15. beans, bushel. 2.25a2.50. Eeets, 502,50, Cabbage, 100, 1.5023.50. rots, 100, 2.50a3.50. Celery. dozen, 1.00a 1.25. Corn, dozen. 12a40. Cucumbers, lhnssokel. 25a50. Eggplants, basket, Lettuce, basket. 50a 1.00a1.25; Bermuda, crate. 1.25a2.50; spring onions, 100, 1. bushel, 2.00: Peppe: 7. Rhubarb, 100, 2.50a3.30. Sq basket, 25a35. Tomatoes, basket. 2.00; green, crate, 1.25. Apples. early June. barrel. 1.25a2.50; bushel, 50a1.25. Blackberries, quart, 15a20. Cantaloupes, basket. 75a1.50 crate, 1.00a2.50. Cherries. basket, 45a Currants, quart, 12a18. Gooseber- Huckleberries, quart, 1875, Peaches. basker, 75al.00: crate, 1.25a2. Pineapples, crate, 2.50a7.00. Plums, basket, 75al.00. Raspberries, . Watermelons. cach, 13a 1.25a2.00; . Oniona, bushel, ries, pound. 7af 40. Selling Prices at 1 O'clock. Wheat—No. 1 red winter, spot, no quotation: 0. 2 red winter, spot, 1241 red winter, garlicky, spot. new, 115 per bushel: July wheat, spot, new, 1.19 per bushel; Au- gust wheat, 1.15 bid. Sales—Bag lots of new nearby, by sample, at 75, 80, 85, 87, §8, 90. 95, 97, 1.05, 1.07, 4.08." 1.10. 'L12 per bushel. Cargoes on . 2, red winter, garlicky. 1.15 No. 3. 1.12 per bushel; No el; No. 5, 1.02° per per bushe 4, 1.07 per b bushel Five thousand bushels of August wheat. first half hour, at 1.17% per bushel. i Corn—Cob corn, 0ld, quoted, 3.75 per barrel: contract corn. spot, 16; No. 2 corn, spot, 7 track corn, yellow, No. 2 or better, 80a80%; No. 4 corn, spot. T4% per bushel. Sales—None. Oats—White, bushel; No. Rye—Nearby, bag bushel; No. Z, western export, 93%; No. 3, no quotation. Hay—Receipts, 11 tons; range 18 17.00 to 21.00 for fair to good qual- ity timothy and mixed hay; market firm; supply on hand ample for trade, Straw—No. 1 tangled rye, 15.00; No. 1 wheat, 11.50812.00; No. 1 nominal, 12.00213.00. NEW YORK. July 17.—Flour—Unset- tled; spring_patents. 17.50a8.00; spring .7586.50; soft winter stralghts, hard winter straights, 6.50a 0. Pork—Dull; mess, 29.50a30.00; family, 28.00a29.00. Lard—Barely 11.20a11.30. CHICAGO, July 17.—Wheat scored a moderate upturn in price today dur- No. 2. 47a47% per new, 46a46%. lots, 85a1.00 per spot, steady; middle west, There were no features in the bond dealings and prices ruled firm or steady. W, STREET NOTES. Royal Dutch dividend of 16 per cent, declared June 3, is equivalent to $2.066 a share on American certifi- cates and is payable August 1 to stock of record July 19. Texas Company earnings In six months ended June 30 show much improvement over a year ago. Sale of oil increased substantially. Regularly quarterly dividend of 1 per cent was declared on J. G. Bri perterred. Broker houses which in busy times transact a business of 10,000 shares and upward on the New York Ex- change daily are now doing only from one-third to one-half that number. ‘The Philippine government 4% per cent bonds offered by New York and Philadelphia bankers are /reported all sold and subscription bodks closed. A Federal Reserve Bulletir In re- viewing conditions says outstanding points of economic development are the continued increase in volume of production and advance in prices. Mexican Seabcard for five manths ended May 37 r?nru gross earrnings of $14,045,818, and total net income of $3,803,610. Subacriptions to_ $25,000,000 New York Central refunding and improve- ment 58 approximated $100,000,000. Income account of Beechnut Pack- ing for three months ended March 31, 1922, shows net profit of $392,291 af- ter expenses, but before federal taxes. North American KEdison and sub- sidlaries for four months ended April 30 show gross revenue of $9,728,185. Net Income reached $4,072,116 and the balance, after de- ductions, was $2,674,184. Foreign demand for copper con- tinues to -x?su. current consump- tion for that acoount being at the high level of the month. 1 mwl‘lu & to 80 ‘Ccn“’ll‘- S‘tgr‘efi, nc., report gross sales of for L R yeur. or s n of the year were $3,540,284 against 2,089,96¢ in same period last year, ing the early dealings, bullish senti- ment making headway on account of an apparently unpromising outlook for settlement of the railway strike. Higher quotations at Liverpool tended further to lift values here and so, too, aid prospects of a good sized decrease in thg United States visible supply to- tal. Big receipts here, B40 carloads, failed to act as an offset. The open- ing, which varied from %¢ off to lc advance, with September 1.1¢ to 1.14% and December 1.16% to 116%, was followed by gains all around. Corn and oats were firmer with wheat. After opening % to ¥ higher, September, 653, the corn market held within about the initial range. Oats started unchanged to 1% lower, September 37%. and later made slight ains. “;:;‘\‘rlh?ons veraged higher, reflect- ing changes in the hog marke! ‘Potatoes steady; receipts, 38 cars cars on trlcki,. 110; total cars ship. ments, 802; edstern shore, Virginia, twelve-ton barrel, cobbler: No. 4.1624.30; slightly decayed, Kansas - sacked _cobblers, ed, one car, $2; Minnesota early hios, no sales reported. NEW UMBRELLA STYLES. ntry-wide display of um- e O vy Bpell aid not creats so much acti¥ity among makers, but they face a cheerful outlook because retall stocks have been greatly re- Huced. The trade was peculiar in View of the fact that business kept up well throughout the period of ds- pression, but :flwv«l suddenly at be- ginning of year. Reduction In sales t rs busy at once on plans to 1ays wll(:‘;"emua 1d ¥ a wide f:;rsu?ln umbrelias, and the rainy month of June helpedalong the move- ment. Fall orders, therefors, should mount to satisfactory proportions, as orainarily it is the best season 'for the trader Shorter handles are now being Diayed up, with the leather strap or. ring attachéd. White tips Bave also become more active. G.. Rockefeller has been elected a trustes of Consolidated Gas, taking the ghlun made vacant by the death of father. PRINCE WitL B THERE SHOULD | START OFF WiTH SOMETHING WELL, YOUR MATJE STY. You'VE €0T A SWELL DUMP HERE — MUST SET You BACK COMSIDERABLY KEEAN 1T UP e n M N et | iRy ANO SRR T4 S'PASE | WANT SOME GRAVY ‘Your. PLEASE oM My POTATO . “WHAT D5 1 SAV = MATESTY, WILL YOU SLIPME TH' GRAVY - 1| BET I*LL USE TH' WRING Forw FOR Tw' SALAD WKING EVER GE You LET ME CATCH “ou SAYING ANy, SucH THING + Comrrighe, 1979 % ¥ Volbwns toe and Live Stock LOCAL WHOLESALE PRICES. Eggs—Strictly fresh, selected, can- dled, per dozen, 25a26; average re- ceipts, 24" southern, 2 Live poultry—Roosters, per 1b., 15; turkeys, per Ib. 25: spring chick- ens, per Ib., 32a36; keats, young, each, 60; fowls, 26 Dressed poultry — Fresh killed spring chickens, per Ib., 3ja40; hens, per lb., 26; roosters, per lb., 16; tur- keys, per 1b., 35ad! keats, young, each, 60. Live stock—Caives, choice, per 1b., $; medium, Ib., 8a8%; thin, 1b., 5a7. Lambs, choice,” per Ib., 12; llve pigs, §i)yas.00 each:’ live hogs, “er 1b. 1lu Green fruit—Apples, new, per bblL. 1.50a4.50; per bu. baskets, nearby, 50 a2.50. California oranges, per crate, 0a49.00. Lemons, per box, 4.5026.00. Blackberries, 8a23; raspberries, 20| 35. Peaches, 1.50a3.00. Cherries, per basket, 20a75. Calitoraia lopes, 3.00 Vegetables—Potatoes, new, per bbl., No. 1, 2.75a3.75; No. 2, 1.00a2.00. Let- tuce, ‘per crate, 50a75; New York, per crate, 50al.25. Romaine lettuce, 1.50. Cymblings, per crate, 25a75. Onlons, per basket, 1.76a2.25. Cabbage, new, per bbl, 50a1.00. Cucumbers, 75a 150. Eggplants, per crate, 2.50a3.50. Tomatoes, per box, nearby, 1.50a4.00. Beans, 1.00a3.50 per bbl. :Peas, 6.00 25.00 per bbl. Peppers, per crate, 50 21.25. ~ Kale, 751.00. s, per doz. 75a3.00. Spinach, per Bl L, 2.50 23.00. —_— CHICAGO LIVE STOCK MARKET. CHICAGO, July 17 (United States bureau of agricultural economics).— Cattle—Receipts, 21,000 head; better grades cornfed beef steers and butcher she stock steady to strong: bidding 15 to 25 lower on other grades; few early sales 15 off; early top beef steers, 10.65; bulk, 9.00a10.00; bulls weak to 15 lower; most bologna around 5.00; veal calves slow; early sales weak to 25 lower; packers bid- ding mostly, 9.0089.35; stockers slow, weak. v Hogs—Recelpts, +7.000 head; opened 5 to 10 higher; later 10 to 15 higher, spots 20 higher than Saturday’s av: age on good light ana light butchers; others and packing grades slow; big packers bidding low: few -early sales strong to 15 higher; top, 10.90; bulk, 8.70a10.80; pigs, 15 to 25 higher mostly, 9.50210.50; heavyweight, 10.10 210.5 medium, 10.40210.80; 1light, 10.70a10.90;: light light. 10.36a10.80 packing sows, smooth, 8.3529.25; pa. ing sows, Trough, 7.86a8.40; killing pigs, 9.50a10.50. Sheep—Receipts, 22,000 hea about steady; fat ewes mostly, 6.50a 7.50; fat lambs mostly 25 lower: spots off more considering sorts; top native lambs, 18.50 to city butchers; 13.40 to packers: cull natives largely, 7.60a8.00; good Idaho feeding lambs, 13.00; fat western lambs unsold early, DAIRY MARKETS. 3 BALTIMORE, July 17 (Special) — Poultry—Live spring chickens, pound, 36a3s; small to medium, 30a35; white s, 28a38; old hens, 34a25; 6 leghorns, 33 old roosters, 15a16; ducks, 18a30; spring ducks, 25; pigeons, pair, 20. Eggs—Loss off, natlve and nearby firsts, dosen, 33; southern, 23. ry, fancy pound, 33a 39841; nearby creamery, B s, 39230; rolls, 26a28 store packed, 3¢; dairy prints, 27a28 process butter, 33. CHICAGO, July 17—Butter—Lower: creamery exiras, 85; firsts, 3laj¢ seconds, 39a30; standards, 33, Egge—SBteady; 22,358 cas firets, 21%a22%; ordinary firsts, 204a%l; miscellaneous, 31%4a22, * Cheess—Unichanged. Poul ‘eak; fowls, 31%; broll- ers, 24a30; roosters, 14. uPiE“W rY;.ORK. Jullo’.ll.{’.q‘““h- ;. _recelpts, 3 creamery, higher than Ax'.ru,,.lc‘lm creamery,. extras (93 score), {834a37; creamery firsts (88 to 91 sdore), 3%a 36; packing stock, current make, No. * *‘i:wnhr receipts, = d 13,938 cases; o rate: B Novw Joroey peimas: . ; New :v‘hl"l; m lfl?“?ndmmfi i un ; atate, nearb: and nearby western hennery :Il ;. firsts to extras, 80a4l; state, nearby and nearby western hen: browns, 9; state ai % |istry Nou vE CERTAIMLY SHOWED US A GooD, TIVE , YOUR MATESTY. IF YOU A~ Th Mires. WE'LL BE SORE +F You SPEND A.FEW DAYS T ouT To SAUK CE~NTER Oon~'T Witk uS. WE Live VERY MOOESTLY BuT O GUEST l Reom ~AS A / 7;,«.567 MONEY IN PLENTY AND RATES BOND IMPETUS By the Associated Press. NEW YORK, July 17.—Easy money rates which were at the lowest figure in several months were the impetus|gin on the right side of the ledger. for the strong bond market last week and were responsible for the flotation of another large block of new offer- which totaled $70,000,000, as inj compared with $86,250,000 before. the week Heavy trading in liberty bonds, flv: issues of which reached new hi marks for the year, featured the dealings on the big board. This was BY EDSON B. SMITH. Special Dispaitch 1o The Star. BOSTON, July 17.—To counter- balance to some extent the effects of the rall, coal and textile strikes in New England, the bullders and trades unions have signed & wage contract here for the first time since the strike of over z‘ppra:o, Plasterers and bricklayers get $1.12% an hour m&! other skilled lines get . Common labor will be Dald 65 cents an hour. These prices are based on five and one-half days a week and time and a-half -will be pald_ for overtime and double time or Sunday's and holidays. The Industrial outlook, except for the labor situation, is unquestionably good. There have been mo factory shutdowns yet, but the supplies of coal in New England are very small and unless production of coal is re- med immediately on a big scale it seems inevitable that curtailment must be made. Train schedules in New England have been maintained by the New Haven road and the Boston and Al- bany and Boston and Maine. The railroads have been able to operate their shops with forces at one-third to one-half of normal. The textile mills which were closed by the strike last winter are nearly all operating in a small way and gradually in- creasing the number of employes at work each week. Given a satis- factory solution of the coal and rafl strikes, experts believe general busi- ness will be normal or better in near- ly every llne by fall. Business Prospects Better Than for Months Southwest | BY JAMES R. RECORD. Bpecial Dispatch to The Star. FORT WORTH, dJuly 17.—Corn promises better in the southwest than it has for some seasons and good forage crops are assured. The future of the cotton crop still depends to & large extent on the weather and to the extent to which the boll wgevil menace can be checked. The financ- ing of the crop movements is assured as the banks are in excellent condi- tion to meet the normal requirements in this direction. Building through- out Texas is still active, although the volume of construction is not quite so great in some sections as it Wi earlier in the year. General business prospects are bei ter than they have been for months, although business men are proceed- ing with caution inspired by the pos- sibility of deleterious effects from the railroad strike. There is a good demand for automobiles and tires and wholesale tire dealers declare collections are better. Oklahoma oil refiners are now busy and shipments are going forward reg- ularly. The condijtion of live stock on the ranges is excellent and the grow- ers are more confident that they will finish the séason with a goodly mar- Retail trade is showing seasonal quiet in some sections, but a heavy autumn business is expected by wholesalers and jobbers. Rail Strike in Frisco Area Threatens Blow to Shippers BY LYNN C. SIMPSON. Bpecial Dispatch to The St IS 'GOOD IN SPITE OF STRIKES Effect in New England Is Oflse;: to Some Extent by Wage Pact With Builders and Trades. | for some time. Factories making men's shirts collars and cuffs in this section are gradually increasing their working forces to meet orders now coming in from various sections of the country. nd o Ments. ENID. Okla.,, July 17 (Special).—A new packing plant_will (S er:l:u'd here immediately. The initial invest- meht will be $50,000, and the plant Wwiil be in operation by October 1. Produce. LPHIA, July 17 (Special).— s of Pennevivania, New and “Delaware promise to be large and canners will be afforded ful supply. Delaware shipments of white potatoes over the Penasylvania are four times as heavy as they were last sea- son PHILAD! Tomato c Jersey | Gral ST. JOSEPH, Mo., July 17 (Special) | Increasing in importance of this city as @ grain market hax resulted tablishment here of a commerci ing laboratory for grain. he ex- 1 test Brick. HAVERSTRAW, N. Y., July 17 (Spe. cial).—Brick manufacturers are rugg.. hind in their deliveries and demand is such that it ie impossible to tell when they will be able to catch up with orders, on. . WICHITA, Kan., July 17 (Special) Negotiations are under way for sale Union Oil, one of the pioneer com- panies of the Mid-Continent fleld, which has been in the hands of a receiver Hides. _BOSTON, July 17 (Special).—Country hides are commanding higher prices in this market than at any time since slump of 1920, Flour. PITTSBURGH, July 17 (Special).— Flour market here continues dull and featureless, buyers apparen: having little confidence in the situation. The A taking on flour for immediate needs only. Silk. SEATTLE, July 17 (Special).—Con- tracts for raw silk imported from the orient for first half of July totaled 15,000 bales. Notes. DULUTH, July 17 (Special).—Very few lake traders are carrying cargo upbound at this time. About 75 per cent are going up light. Lake ship- ping men declare that carrying cargo one way is barely paying expenses. Because of scarcity of coal at upper lake ports it is necessary for boatg to carry sufficient coal as cargo on their up trip to supply their bunkers on the way down. Unless coal mines get into production by August the northwest will face another coal shortage similar to that of the win ters of 1917 and 1918. Willlam Liv ingston, president of the Lake Car- riers’ Association. said today: “If they don’t start carrying coal up the lakes pretty moon the northwest will freeze to death this winter. PHILADELPHIA, July 17 (Special) —Building permits for first half of 1922 here exceeded all records by $13,000.000. The total amount expend- ed was over $52,000,000. This pace has been maintained throughout the first two weeks of the current month. Skilled labor is scarce in the shore atlributed to large purchases by banks, insurance companies and other big institutions reinvesting July funds, as well as t6 government buy- ing in the opening market. Prices of railroad bonds wers better, especial- ly of the junior or underlying issues. The breadth and strength of the bond market was in striking contrast to the dullness and irregularity of the stock market. That the local market for new of- !erlnf is evidenced by the fact that the 50,- 000,000 gullder issue of the Kingdom of Netherlands, the first foreign offer- ing in several weeks, was oversub- scribed, and by the fact that the allot- ments on the $25,000.000 New York Central {ssue will be between 20 and total sub- 30 per cent, indicating scriptions of about $100,000,000. Some heavy government financing}port a satisfactory demand for this is expected by local bankers and bond dealers early this fall. as at present they believe that sucl an offering would be heavily over- subscribed, the demand for tax-ex- empt securities being especially good at this time. Flotation of a few South American loans is expected within the next few weeks. These include & 34,500,000 issue of the provinc the Pacific rallway of that country and an $8.500,000 issue of the Re- public of El Salvador. Bankers en- gaged in the negotiations of a long- term loan for Peru also expect to make some announcement of their progress next week. IMPROVEMENT TREND STILL UNINTERRUPTED By the Associated Press. NEW YORK, July 17—With the country's two major labor disputes still contributing their elements of uncertainty, business and financiel news last week suggest that the trend toward improvement is unin- terrupted. Rallroad ear loadings for the last week in June were slightly smaller than in the one previous, which new high record for the year. The loss ia accounted for by smaller coal shipments, the movement of merchandise showing & further in. & 'znalutlon that a better demand for steel products is being maintained were confirmed by the June 30 total of unfilled orders of the United States Bteel Corporation. As of the first of the current month the corporation’s books show 5,635,000 tons of unfin- ished business, this figure being 381,- 000 tons larger than on May 30, and 1,494,000 above that on February 28, when the low point of the recent depression was made. -1t is estimated, furthermore, that the June 30 figure means that nq business during June amounted to more than 1,400,000 tons, which i a volume exceeding the corporation's monthly FM“““ capacity. At pres- ent steel output is experiencing a mild check on account of the ral rosd strike, the steel corporation’ rate of operations having been re- duced from 77 per cent to 75 per cent. Meanwhile, the trade has de- veloped & certain amount of anxiety over & possible car shortage this fall, pointing out that the increase in new business, which would accompany termination of the strike, would coin- eclde with the sotive period of crop n°"m.}“- the various forms of for of ‘money “gr , at the low levels of g:.m-m le, and the question re- mains as to whether or not the money market has quite touched bottom. —— Official figures -of the British min- :..axa'& considerable improve- ‘ment during this year in the employ- ? aituation in Great Britain, ment b axtra 7. 1, fil, 7.40a7.48; Shinsu ton extras A 14-16, 7. 8, gold' ‘e . has been a drawt in the lnumbcr raons unemployment bn‘o’;u in insured industries at the end of May, 83 compared to the num- ber. drawing benefits on January 1. The t 'clll‘! \monvla?fl at Tocanse of BIT s is not yet in & congested stage They point out that the present market of- fers the Treasury Department a good opportunity to refund some of its war flotations by & long-term issue at a coupon rate of not over 4 per cent. If the bond market continues of Antiqura, Colombia, and an $8.000,000 issue of SAN FRAD y 17 ers in California assert that the rail strike threatens to cause heavy loss to fruit shippers, but in spite of this conditions throughout the state are most prosperous. Bank resources show & steady gain, interest rates are softer and desirable loans can be ob- tained at low rates. Building is being delayed somewhat by lack of ma- terials. The enormous demand seems to have outdistanced the production of the mills. Late crop estimates show improved conditions all along the line, with a yield in prospect except in some eties. A slight interruption train service, Lowever, would cause heavy loss. Although eastern buyers are not rushing into the mar- ket for dried fruit, the growers season and are not worrled. They say there is an export market which will care for all surplus. Raisins d prunes both promise large yields, and the first dried apricots Went east this week. Heavy ship- ments of the latter fruit, however, will not be moved for two weeks or more. There has been a slump in the mar- ket for investment securities and a temporary lull in real estate dealings, resorts of New Jersey, and some buildings being delayed by shortage of plasterers, who are commanding & premium above the union scale of wages. KANSAS CITY, July 17 (Special) Tremendous revival of road-building activity in Missouri is expected to follow the announcement by the state highway commission of plans for & primary system of cross-state roads. There s available about $30,000.000 for immediate execution of this pro- gram, and a similar amount will be at the disposal of the commission each year for the next two years. SILK OUTPUT METHODS. Silk manufacturers in Germany ane France have not taken losses on silks that American makers have sustained, because their method of doing business is different from ours, according to & prominent dealer and maker back from Europe. Foreign manufacturers make goods only oa order and In this way avold over- production. “Here,” he says, “manu- facturers have been operating on the principle that it is cheaper to run mills at a loss than to shut down. With overproduction prices are weak ened, and until the distress goods are but the latter is attributed to the lull of the summer and vacatign season. | Commodity Reports From Various Sections Radio. ATLANTA, July 17 (Special).—De- mapd for radio sets and equipment is keeping dealers busy replenishing their stocks. PITTSBURGH, July 17 (Special).— A falling off in demand for radio ap- paratus is reported here. Dealers attribute decrease to warm weather. Paint. SEATTLE, July 17 (Special).—Own- ers of office buildings and apartments began refitting and redecorating their properties in the spring and the trade in paint has quickened since then with increase in home and apartment construction. Wool BOSTON, July 17 (Special).—The government has announced the sale of odd lots of wool for July 24. This is expected to stimulate some interest in the otherwise dull wool market here. Fruit, - FORT WORTH, July 17 (Special).— ‘Watermelon shipments from Texas are averaging 100 cars dafly. The price has remained firm and profitavle to the producers. SEATTLE, July 17 (Special).—A; ple growers hope to contract their fruit this year at $1.50 a box or better. The 1921 crop brought ap- roximately $2 per box net to or- chardists, due to shortage in the east- ern and southern districts. Coal. UNIONTOWN, Pa., July 17 (Special). —Supt. McClellan of the Monongahela division of the Pennsylvania an- nounces that shipments over branches tapping Connellsville coke region one day last week were heavier than on any day since the miners' strike began April 1. . Bhoes. PHILADELPHIA, July 17 (Special). —Shoe manufacturgrs in this section are well booked up with new orders well ahead of production ‘and lhlr- ment. Demand for staple goods Is in a particularly healthy codition: Beans. 'ROIT, July 17 (Special).—Bean -3:‘:.‘.. in ‘Michigan this season has increased 63 ~ o aent compared with last year. This will give an esti- mated crop of nearly 5,000,000 bushels. \ Sugar. ATLANTA. July 17 (Special).—~Sugar is ‘:uu advancing tractionally week by week and now Is quoted at 7 'cents & pound, compared with 5 cents at end of last winter, when it touched ita low 1 $ Shrte. NEW YORK. July 17 (8peéial)— gone buyers will not be willing to pay the manufacturer’s price. Manu- facturers have begun to realize this fact and are planning to curtail pr duction of fabrics in smaller de- mand.” ‘The factor looks for & con- tinuance of improvement in the silk trade. IMITATION RING FAD. Manufacturers of novelty jewelry evidently belleve that demand for this merchandise will continue for some time yet. New ideas are being brought out in this field very fre- quently. One of the latest is a finger rInf designed on the old Chinese style. Tt is described as a reproduc- tion of the rings worn by the man- darins. The ring contains an imit tion jade stone in a Chinese settin, with dragons coiled or creepin around the edges of the jewel. color of the metal forming the ri is green, resembling green gold, an is it“ keeping with the jade in the center. MORE LUGGAGE ORDERS. Luggage makers say there has been an increase in orders lately from both jobbers and retailers. The period of keen price competition which has pr vailed until recently now appears to be ending. Some manufacturers have already advanced prices on their lines of suit cases and bags, owing to th higher cost of cowhide and other leathers. It is said that they have no great amount of stock goods. The job. bers are understood to be in a position. Up to the present. the job. bers have not bought much in ad- yance and have been depending upon the manufacturers to make quick de- livery. But, with a stimulated d. mand from retallers, owing to anti- cipation by some of higher prices. the manufacturers are finding it dificult to supply jobbers as easily as was the case a short while ago. — PARIS BOURSE QUIET. PARIS, July 17.—Trading was quiet on_the bourse today. Three per cent rentes, 67 franes 85 centimes. Exchange on London, 53 francs 83 centimes. Five per cent loan, 74 francs 50 cen- times. The dollar was quoted at 12 francs 11% centimea. LINEN ENICKERS FOR SPORT. Makers of men's sport wear report excellent demand for linen knickers The call has been 80 good recently that some have found it nece: to cut up twice as much material as they originally intended. While it was originally thought that the e of linen knickers would help sales of white fiannel trousers, this has not yet proved the case. It is still too early to judge the volume of white flannel trousers sale: nwlllf to th fact that tki , which is gener- y the biggest in point of demand, i ot yet over. - OII‘II vylho.u cl-l.rlnf to mnh“ class trade, say their sales of white flannels have been good. r