Evening Star Newspaper, July 22, 1922, Page 10

S FINANCIAL, ° TRADE IS TEEMING WITH LIFE: UNDER LEASH BY THE STRIKE ‘General Business Conditions Reported in Survey Eager and Able to Forge Ahead if Labor Wills. BY J. G. ROYLE. (Copyright, 19 dgmand {s making its appearance for those oods. Lumber production has fallen off somewhat. but hardware dealers have had their shelves swept bare in some sections by the increased demand for | garden tools, camping outfits, fenc- g and builders’ hardware. The paper trade is justifying the recent iprice increases and candy manufac- Fturers are behind in deliveries. Commodity Reports Special Correspondence of The Star. NEW YORK, July 22-—Business not content to drift, despite the check to progress which has been adminis- tered by the coal and rail strikes. It is proceeding cautiously, but is under steerage way Wwith steam up in the boil- ers ready to surge ahead at full speed present dangers are the moment the o . past. That widespread tendency to &0 From Various Sections: abead gives the m factory indi- Leather. i cations for ement of the | pogTON, July 22 (Special).—Shoe |er requirements well itime in two years. manufacturers are filling their leath- | ahead for first For months they For it shows the un- ¢ line of business to bor dispute: ingness of e relinquish the new! vered prosper- [LIME L Lo 3o edlate. require- ity which was absent so long. I ments. It is an axiom in industrial disputes ! that no labor controversy ever is won Etoudon against the weight of public opin Il.K CLEVELAND, July 22 (Special).— The eagerness and ability of business 10 {5 yto dealers here forecast unusually c0 ahead is cr s public onion. [y Siles T July and August, Many which is deepl rned with the €f* | show rooms are bare of cars because fect on the public pocketbool e eiores ve far behind orders. Mark- that ‘Gpihion’ Dacks ' the striiers or e |G EL U Cnent s aiso reported In operators it will be a weighty ene e specdy setilement. is being real- | ) ized now that the strikes are costing: . w szl everybudy money. i PITTSBURGH, July 22 (Special). Lighting fixtures, plumbing supplies {and steam fitting material and buil jers’ hardware are extremely active ce {here, sales being encouraged by build- ing boom. Unemployment Passing. loyment has practically . but the workers who To: Unem J0bs do not want to them, Wany will if the strikes : . «". d '_«h.\.,‘(]x_». ctories 4 Clothing. blints cannot run without fuel, and| ST PAUL, July (Special).—Sum- " v of them cannot run with [Ih"li“h.‘. clothing sales have been retard- e prteceNeither can they [ed by cool weather throughout this L if they cannot secure transporta-|scction, although there has been a n_ of raw mat < finiched ponse to special bargain cuts ds. i - Retail trade generally is only Orders aggregating scores of mil- lions of dollars in_on merch and manufacturers and —— producers, and more orders are CENGOUVER. & & ety 33 Gees waiting: normal ‘conditions ta cial) —British Columbia Paper Milis, thein AppeatRnce e aer overwhelmed with orders and new O S E e “business from Australia, are working theg/cdnnot Silthent T eas twent hours a day with full ot Sell goods If the buy- |Crews on shift. They are turn- innot sell goods 1f the BUN- |50 out 250 tons of newsprint a day & poRe et o T {in tne Vower River district alone. e e e i Fhis product is selling at from $80 to a public opinfon. B to dispute defian side, will be ineffe silent weizht of gen 1 and demand for a settl Cocon Benns. W YORK. July 22 (Special).—It mated that cocoa bean importa- against disapprov | ment [tions into the United States during ' will be approximately 1.700,000 Poxsibilities Point Progress. i i v ot iabprasimately Busin Jatches received in the ! $30,000.000. tast twenty-fo hour indicate | = plainly the p ibilities for progr | Fruit. “nd prosperity for the next half| WORT SMITH, Ark., July 22 (Spe- vear once the present period of un-|cial) —A ite’ lime kiln to supply ertai is pa railroads of | . 4 orchard_belt will be the co have or started or | sner. This plant will authori: new tructton work | sav owers the freight on white mvolving titure of over|jjme now imported from outside the $150.000 Xt £iX months. | state. H Thi utside the orders | = that have been or will be placed for | T ars, locomotives, rails and equid- | v GRYBANS, July (Special). fous Kinds. One railre placed orders for n 000 worth of equ plants hawe banked sol it of ers for fall delivery are increas- in number and in volume from week to weck, according to local shoe manufacturers and wholesalers. De- i their fires. but t 8ta s v mand is mainly for medium grades. belching agaijy as soon as the fuel| o X 50 i Blottuse, 1 relloved. for thelordere | Cactortes Are sunning =tel te/€0 par are on the books which will move jgeked ‘suflicient orders to warrant production toward instead of away | ¢ ime production. from capacity operation. Basing their plans on orders on | = hand, automob manufacturers ex- | = (‘Mh.-m 2 pect to run steadlly on present sched- | OKLAHOMA CITY, Okla, July 22 | (Special).—Oklahoma cotton crop which is fifteen days late, is officially estimated at 885,000 bales. The boll weevil had made its appearance ules until snow flies. Tire production is at the highest rate since June, 1921 Booked Up to Capacity. Shoe factories in practically every | earlier than usual and this has caused section are Dbooked up to capacity | Some concern. pioduction from four to eight months | in_advance. ; | Notes. Leather and hides continue to re-| pHILADELPHIA, July 22 (Special). flect this condition by steady price!__mhe new motor ship Missourian is improvement. Cotton goods ~ are! o\ on her maiden voyage to the Pa- firming up I“'"\ Dt o i Teo | cific_coast via the Panama Canal, msidcus) woliine o business still to{j5aded to. the h:\]lches with a big g " = . cargo. e vessel, which is a part e mad e fienaand waolen ) of the Harriman fleet, is equipped e ‘ with electric devices for loading and somulainte o dischs argo, which i said fo «elling prices when the | 0 : with .dependence woolen trade is Inivig most | VOOR stevedones ooy sa ‘mirkes KANSAS CITY. July 22 (Special).— appearance which proves a silver lin- | Bankruptey cases in Kansas in- ing to its clouds, v ago. it | ¢reased more than 100 per cent in was the palm beach goods and tropi- | the last year and were more than 300 eals. This fail and next winter and per cent greater than the pre-war spring it promises to be the whip ze. Farmers took the lead by cords and gabardines which willia wide margin in the number of vield sure profits, for a widespr ankruptcies reported. WALL STREET NOTES. In the first six months‘of this year TREE-RIPENED FRUITS | ARRIVE IN GOOD SHAPE ieneral Motors has added approxi- PR o . e i tely $6.200.000 net to reserves for NEW YORK, July 22 carload of real estate depreciation, plants and free-rine ned cots and small fruits. | cquipment. The balance in reserves shipped from California to test a new | now stand slig] v . ting m, for transporting | To0.000 0 At SHEWUY over 343, fruits, found to be in zood con- | At a spec - d'tion, for the most part, when opened | of dir, -z.':m‘filr '(’;neee‘x:‘c',ls&o(f: (:1':-:10::3 tlement was approved with. the rafl- road administration of all accounts Erowing out of the federal control o railroads. John J. Cornwell, for- mer governor of West Virginia, and for past two years a director, was named general counsel of road to succeed the late Hugh L. Bond, Jr. Railroads centering in New York city have purchased 175,000 tons of Welsh coal to cost close to §8 a ton. Estimated surplus of General Mo- tors Corpu fon for the six months ending June 30 was $26,939,391 cual o $1.30 a snare on the common stock, agai 31 ce a s - ‘[I“‘l':} period last c)':;:'.‘ Shareinitine ere is talk of an extra div on General Electric, while Am‘elrdlte."l‘: | ice is again responding in a marked ‘The market $2.10 Strawberrics brought age; cherries, $1.05 ; black! aganberries, $1.10: plums, =, $1.10 ai R P SUPPLIES ACTIVE. ‘ CAM One of the most active lines of mer- in wholesale hiking ¥ to the same reports that haki clothing | been in circulation before dhsctore ten] Ko@) wonen mectings throughout the year. . r saled shoe Sears-Roebuek is expected to re- outdoor cooking utensils sume dividends early next year if ss and simil the refundi; ri ng plan now under con- » unprecedented d. templation should b sernment Jlies are zood sources | full. Sicarriedioutiin for much of this equipment, and large | _Although it seems a f: jobkers who have stocks on hand are ;:llm foreign exchange ma::u'i‘:yto'mm doing o big business, they say. | domestic steel situatl, One fuctor in (he trade aiiributes | o7, Ge o e the growing demand for such goods to | 0f the strongest factors i the fact that the RAbIt of | Perity of Cracible Stom. e o “week ends” eveloping in this | tled “financial situation in Germany country among all ci The wealthy | is virtually eliminating mills of that 7o o rolf clubs or yacht cruises. ntry from foreign markets. while those less fortunately endowed | With raw sugar apparently headed 2o hiking or camping. Retailers are [ for 4 cents, cost and freight, and <cd at this trend, ugh camp cloth- not particularly ple s the wearing of r ing saves the usual weay on ordinary clothing. and it is feared will reduce the replacement buying of ordinary apparel. MESSAGE FROM OSPINA. Colombian President-Elect Cables Thanks for U. S. Hospitality. President-elect Pedro Nel Ospina of Colombia. who recently visited Wash- ington and conferred with President: Harding. sent a message of greellnx: from Colon, which was made public| marar today by the State Department, to-: cther with Secretary Hughes' reply. Gen. Nel Ospina’s message follows: “Before leaving for Cartagena I beg you to accept and to transmit to President Harding the expression of my gratitude for your warm reception to me.” To answer Mr. Hughes directed the cousul at Cartagena to deliver the following message on the arrival there the president-elect: “The President highly appreclates Jour excaedingly courteous message 1d bids me say that your visit caused itim much pleasu He sends you his ined already selling at 6.80 cents, comimodity markets are qecide edly ‘active. This forms the bacl ground for the recent good accumu- lation of the sugar stocks, especially Cuban-American, of Pittsburgh Coal Pro- ducers’ Association to resume opera- tions in bituminous flelds was Very bullish on Pittsburgh and West Vir- sinia Railway, which has been mak- ing a very good showing, despite the inroads made by the coal strike. Accumulation of International Nickel Is more evident and is a nat- ural result of the widespread re- sumption of nickel consumption. This finds its {among manufacturers of motor cars {and similar industries. Brighter outlook for industry Ahroughout the country at large, as well as more tangible evidence of in- creased operations and purchasing power In the farming districts, is giving rise to renewed expectation of a restoration of the International Harvester $7 dividend, as against present $5 ra e R Worsted yarn knitting trade is im- proving as jobbers and retailers find it necessary to come Into the market to replenish stock. This results in a steadily increasing demand for yarns for sweaters and other outer gar- Lest wishes for your health. I add|ments. Knitting mills as: calling on my own message of cordial considera- | spinners and yarn dealers for a va- tion.” riety of yarns for prompt delivery. THE FIRST DIVE WiTHouT THE TIME HOMORED PRECAUTION OF HOLODING THE MNoSE Copyrisht, 1922, H.T. Webaten' UNDERTONE IS ENCOURAGING, DESPITE STRIKE TROUBLES | Substantial Recovery in Business Check- BY STUART P. WEST. Special Correspondence of The Star. NEW YORK, July 22—The security markets Indicated plainly during all of this week that they were concerned primarily with baslc things having to do with Industry, credit and trans- portation, making only casual reflec- tion of temporary conditions. Thus, proof that the steel trade had made fmportant strides forward in the June quarter w of mu nificance than the closing down of blast furnaces here and there because of lack of fuel. Also stock values were very little depressed because the railroad strike had slowed the movement of raw ma- terfals and finished products. The market looked beyond the trou- les of the moment. Strikes end some time, and it was not illogical to reason that when in- dustrial peace again ruled business would feel the impulse supplied by several weeks or even months of dis- organized production. Industry Little Damaged. 1 1 i i [ ! This is not to say, of course, that any real benefit can come to anybody, through such bitter contests between capital and labor. It was fortunate, in =ome respects, that the coal strike. with the vast loss of production which | it brought, occurred at a period when industry was just beginning to rise! from prolonged prostration. of accumulated stocks and the steady | output of non-union mines industry i has come through to date with very little damage. { While reports from rail union lead- lers and railway employers have been imuch in conflict, the “everyday expe- rience of the public has showed slight inconvenience and delay in the move- {ment of passengers and goods on the rallroads. Congestion has been severe at junctlon points, especially in west- ern -territory, and the number of trains has been cut in some locali- ties, but commerce has not been han- dicapped severely. Confidence in Business. The steadiness of stocks probably was\ grounded during ths week in knowledge that the country was by no means approaching a paralyzed state through the strikes. That con- dition supplemented a real belicf in the sound substructure of-business. Jt enabled holders of steel, petroleum. coal, automobile and raiiroad sharcs to examine the future calmly. Such ideclines as occurred were chiefly the product of profit-taking zales. Small Profits, But Significant. In industrial events, the week was one of the most interesting of this i | year, and several developments were worthy of comment. Steel company reports rather ex- ceeded grellmlnlry estimates of re- sults In the second quarter. The stock market would not have been disap- pointed if the Republic Iron and Steel Company had disclosed a slight deficit, | for even with operations throughout the industry as a whole running dur- ing the period at between 60 and 75 per cent of capacity, economic caution suggested that costs might not have been sufficiently under control to per- mit any money to be made. The com- pany, however, had a profit. It was small in (Itself—only $86,300—but large In its significance. The actual gain over the same period of last year, which. by the way, did not meas- ure the full depths of depression of 1921, was nearly $970,000. ‘The report made by the Guif States Steel Company was also comfortin, for net income at the annual rate of more than $6 a share, is not to be broadest market | belittled even in good times. On the basis of these statements and the published record of its orders, sta- tisticlans calculate that the United States Steel Corporation should dis- play around $30,000,000 net when its statement is issued Tuesday. In the March quarter, when $6,749,000 of its dividends had to be supplied from surplus, the corporation had a net return of $19,339,000. Cuts in Ofl Prices. The petroleum industry disclosed the fruits of intensive drilling operations, which had expanded so rapidly fol- lowing last winter's upturn of prices, as to produce more oil than the re- fineries could use and put into stor- age. The two general cuts of 25 cents a barrel naturally carried down with them the wholesale quotations of cer- tain refined products. These moVements would appear to Because | ed, But Not Seriously Damaged. Stocks Firmly Held. | be indicative of adverse conditions in | the trade, were it not for previous | public knowledge that things were shaping for this very end. The con- sumption of gasoline is now running at a record rate. It is likely to grow |larger next month. But even with {the rapid drawing down of stocks, wkich amounted to the vast total 840,000.000 gallons at the end of May the refiners felt that there would be an adequate supply on hand to enter the wiater months of re | consumption So there was no busi- ch more sig- | 1€5S8 10gic in holding up the price at {raiiwa. a time when pl | made to reduce the output of raw ma- | terial from which gasoline is made. 4 ndemnity Developments. { The grincipal event affecting inter- national finance. upofy which Ameri- | can_prosperity hinges to a marked ain efforts were being degree, was of a character to arouse curiosity | real without bringing out much formation. The reported rap- prochement between PBritish and French leaders on a plan to reduce the German indemnity, aroused not little excitement In the foreign ex- hange market. Such a step unques- | tionably would bring great approval among other countries The re-entry of Germany among the leading na- tions in trade certainly is hoped for Ly Great Britain. and it is reasoned over there that the only way for this to come about is through a lessening of Germany's fixed obligations. But such complete silence followed the { original news renort of a possibie cut 132,000,000,000 to 50,000,000,- 1000 gold marks in the reparations bill, that the item looked like a bit of political kite flving. Doubtless | more light will be thrown upon the situation when the guaranties com- mission makes its recommendations to. the commission on reparations. Liberty Bonds at High. The domestic money market con- tinues in a satisfactory state. The persistent climb of liberty bonds to new high points, the generally firm railroad market and the quick and heavy oversubscription of new bond issues showed this pretty plainly. It looks now as though money and credit would remain fairly easy at least until autumn, when the move- ment of crops brings its influence to bear upon the market. (Copsright, 1922.) TRADE AGENCY REVIEW. NEW YORK, July 22.—Bradstreet's weekly review of trade says: “Industry is more irregular, with the railway strike and through'it the coal tie-up throwing deeper shadows upon manufacturing interests, whose need for fuel is weekly becoming ! more pressing. The refusal of the | coal miners’ unions to accept arbi- tration has been a big disappoint- ment to the country and this feeling has been accentuated by knowledge of the fact that the railway shop- men’s_strike has been so conducted, by delaying both loaded and empty cars in transit as to deprive essen- tial Industries of badly needed fuel, Coal trade authorities report some- thing like a scramble for fuel, with accompanying feverish price bidding for supplies, which has nroved too hiz a burden for some of the less favor- ably situated consumers. So far, the iron and steel trades have been hard- jest hit, especially in the neighbor- hood of the most strongly unionized i from 1 m'!lAe:ide from strikes, the outlook is i generally favorable, especially as 1 western crm;s have held all of their recent promise. Weekly bank clearings, 37,061, 17_7-0004" WEEELY WO0OL REVIEW. BOSTON, July 22.—The Boston Com- mercial Bulletin of Boston says: “The demand for wool has not been large this week, but there has been ome business done at prices which are holding firm, compared with”the rates ruling last week. A little buy- ing is reported in the country, but generally growers are unwilling to, accept today's buying offers. “Interest, of course, has centered on the opepging of light-weight gaods, chiefly by the American Woolen Com- pany, which has named relatively low prices on worsted goods and prices about on a parity with the wool mar- ket on woolen goods. London opened firm on all descriptions and slightly dearer on the continental styled merinos. Mohair is in light supply and priees on the finer counts are very strong.” v | tively low | —BY WEBSTER ) LOCAL WHOLESALE PRICES. Eggs—Strictly fyesh, selected, can- died, per dozen, 35a26; average re- ceipts, 24; southern, 23. Live poultry—Roosters, per 1b., 15; turkeys, per 1Ib., 25; spring. chick- ens, per Ib., 32a35; keats, young, each, .| 80; fowls, 27, * Dressed poultry — killed spring chickens, per Ib., “hens, r 1b., £6; roosters, ver lb., 1C; tur- eys, per lb., 35a40; keats, youns, each, 60. Live stock—Caives, choice, per Ib., 9a9%: medium, per Ib., 8asl; thin, Ib. 6a7. Lambs, cholce, per 1b., 12; live pigs, 3,90a8.00 each; live hogs, per Ib. 11a en. fruit—Apples, new, per bbl 1.5024.50; per bu. baskets, nearby. 50 22,50, California oranges, per crate, 7.5029.00. Lemons, per box, 4.5026.00. Blackberries, 8a25; raspberries, 20a 35. Peaches, 1.50a3.00. Cherries, per Ei‘.’é“' 20a75. California lopes, 3.00 < Vegetables—Potatoes, new, per bbl. No. 1, 3.00a2.75; No. 2, 1.00a2.00. Let- tuce, per crate, 50a75; New York, per crate, 1.00a1.75. Romaine lettuce, 1.50. Cymblings, per crate, 25a75. Onions, per basket, 76al.75. Cabbage, TeW, per bbl., 50a75. Cucumbers, per box, 75 a1.50. Eggplants, per crate, 2.50a3.50. CHEe ! Buo's A D181~ WIDOUD, HoDIG HIS ONOSE S, - / H Grain, Produce and Live Stock| DAIRY MARKETS. Poultey, Iyekpring chickamn povad: A p! chickens, pound, 28a32; ‘white Leghorns, 26ass; iens, £3a27; whit old 'roosters spring ducks, 23a25. Pigeons, Pair, 30. Eggs, ‘loss off—Native and nearby firsts, dozen, 23; southern, 22. Butter—Creamery, tancy, pound, 37a 8: prints, 38a40: nearby creamery, 33 a3b; ladles, 27a28; rolls, 25827; store- packed, 25; dairy prin ess butter, 32a33. CHICAGO, July 22 to lower; creamery extras, 30a32; seconds, 29a29%; standards, 32%. ~ I?lll—l.ower‘: 13,791 cases; firsts, 20a20%; ordinary firsts, 19; miscel- laneous, 19%a20; storage packed ex- tras, 22; storage packed firsts, 21%. Poultry—Steady to lower: fowls, 21%; brollers. 23a26; roosters, 13%. Potatoes—Weaker; prices lower; demand and movement slow: receipts. 92 cars; on track, 235 cArs; total United States shipments, 532 cars; eastern shore Virginia, Norfolk cob- blers, 3.8524.00; Kansas sacked cob- blers, 1.50a1.90; few sales; sacked early Ohios, partly graded, slightly dirty, best, 1.25a1.40; poorer, 1.10a1.25; Minnesota sacked early Ohios, partly graded, 1.35a1.40; bulk, 1.40al.45; closing prices yesterday Washington MERGER RULINGS - 3 AID TO MARKETS J | Sharp Rallies Only Partially: marl consequence Held—Labor Troubles Feature. BY STUART P. WEST. NEW YORK, July 22—The stock ket had two thoroughly distinct Dhases today. The approval given by Attorney General Daugherty to the proposed steel mergers was a stimu- to the buying movement and in trading In Republic, Bethlehem, Lackawanna and Midvale was sess! vigorous for the first part of the ion. Bethlehem Steel quickly went up 1% points to 79, Lackawanna started with a 1%-point gain, which was ex- tended to a rise of more than two points, and Steel common went for- Tomatoes, per boX, nearby, 75a2.00. ward a half point. The entirg indus- Beans, 1.0045.50 per oL Peas, 6.0013hcked netted gems, No. 1, one car | {ril Hat fels (he sthaulns of ateri ) a8.00" per bbl. Pevpers, per crate, 50 “UT stock purchases, and there was fairly atb. Kale, 75a1.00. Asparagus, per! lively business in United States Rub- dos., 75a3.00. Spinach, per bbl., 2.50a g ber, Crucible and Industrial Alcohol, .00, - i ket early gains running from half a point AR e e l . ar to larger fractiong on l‘:ne average. BALTIMORE, July 22 (Special).— (Quotations furnished by the Associated Press) S e Potatoes—New, barrel, 2.50a3.50; No. The movement proved to be a rather 2, 1.25a2.00; bushel, 50ai.15; sweets,| INDUSTRIALS. REer I GUANUE S SmevaL D and new, barrel, 5.00a10.00. Yams, 7.00a Sales. J¥hen traders begkn to sonsider prob- 750, “Beans, “bushel, 50as0. Lima | 1100 Butdy Buds . cms entalled in the strikes, buying boans, buehel, Soons75. pects, hunc | 1400 Car Light slackened all around and the first ashel, o dred. 200 Chicago Nippie hour's gains were reduced. In the dred, ' 1.50a2.30. Cabbage, hundred, {00 Chicao Nipple houre & e hxce h 1.50a3.00. Carrots, hundred, 2.00a3.00.| 200 col A i e L o e et wene < = ol 3ot the same ar on Thursday and Frida backet Somnt R anteanret.| 00 Caban Dony Huss Strike news was still inconclusive, ai- 1.00a1.25. Lettuce, basket, 1.25a2.50.| 300 Daniels Sotor . SlionguiErexient Harding s Oyiver B i iuce Dasket 1 et | .9 Db Gona & widi titude toward the coal situation and Onloos buatiel .00, 3 1| 2000 Durant” Motora his pending conference with Chajrman e e ooy | 10y Mo Hooper of the Railway Labor Boari > 2 20850, OMBLOes, ol held some promise of changes bef basket, 50a70. - CARRELE hakone Abples—iiarly June, harrel, 1.00a| lette Saf s i 2.00; bushel, 25a1.00. Blackberries, ' o Goiiin, picture quart, 15a18. Cantaloupes, basket, 75| 200 Grant Motor . In oy selling al.00; crate, 1.00a1.75. Cherries, bas-| 100 Hayes Wheel of Studebaker carried the p: ket, 50a1.00. Currants, quart, 10a15. | 1300 Hesden Chemical. 133, off nearly 3 points from the morn- Damaons, pound, Gaf ' Gooseberries, | 100 Hudwn Co, pra ingw's best level and about 2 poinis pound, 7a8. Huckleberries, quart,; 3 elow Friday’s last quotation. Pierer ;5&?& ,f“”{lf,’,‘;,,}’,‘,‘;,‘:," 3“?:&1&20; c{fil‘;: &(::;fi::nulm-;)‘ub trrnr:ewv:m;:‘lémodd to h: ‘!old in mlnu, O .00a3.25. 3 25 5 and went 10 a new low 50, Plums, basket, 40865, Water-| 3 Loromobile ¢ { point under 11. The remainder of the melons, each, 15a40. 700 Mereer Motors market was not much changed. CHICAGO, July 22—Trading In| 300 Chis miphiop” The steel stocks paused part w wheat during the early dealings to-| 300 Packard Moto idown from their highest point, but day was 1ight and featureless. There | 100 Perteciion Tire P el tor thie Moatipart wi 10- Philip Morris r ocl upli- “‘,“:gd'“;:':,'e‘r‘e'1‘:.’6‘,‘;‘,{‘,3“:",";,::‘:(he 140 Radlo Corp com cated Friday's maximum price of 45 ' selling side. Scattered ratns in the ) mala Aoy Locomebile Higher. northwest section of the grain belt ;10000 I bi : = the Satiook more favorabie to. the | 100 S |t sonay imn hoery Baviie com 2 bears. [ a0 0%+, | Into the miarket on the announcement { _There was a lull in the talk regard-! 1700 Warne Coal P 1 »*!that W. C. Durant has assumed the e ing the railroad strike. which is fund- STANDARD OILS. * % lpresidency of the co, ny. 6(,$ amentally a bearish argument, though | .., > B AN This resulted in a sensational ad- it lsd believed somt-thlng( Drom!l;)ng] o Sk Fance from 50 cents to $2.25. Pro- would result from the conference be- > 102 |fessional operators and floor traders tween President Harding and the bl 0il 18 1B | oho had been buvers on Friday took = e head of the Railroad Labor Board. Stan O of Ind... 1 107 107y | profits on this rise and caused a set- Who was summoned to Washington. S1,0i of Ken, new 93% 93y 031, | back from the highes:. The opening, which ranged from un- Sihn N Yo... 4207 4187 418 Announcement in this column of a BUNU I-IS'I' FlRM changed figures to Iov‘\iel}) s«mr)m- INDEP new tobacco company which is to be . ber, 1.10% to.1.10%, an ecember, 200 Aetna Con Ol a merger of gome of the present con- 1.11% to 1.12, was followed by a| 5100 Alean Off cerns and is backed by Philip Morris y siight further decline, and then by | 1000 Amn Roy Tobacéco Products and Exports and something of a rally. Ld 1‘«”"""" United Retail Candy interests, with Corn and oats were firmer, hu}l\ lrad: e o0 n}m-{». caveed strength in the shares was light. After starting unchange of the interests, i llo “nis higher, with September 643% It is learncd that the stock in the {to 6415, the corn market underwent a 267 {new company, waich is still without |slight general sag all around. 20y, {a name. hax heen subscribed for at $10 H Oats started unchanged to %a% up & la share and that it will make its ap- | By Speciel Leased Wire to The Star. with September 34% to 35 and held 3% | pearance sooner than had been ex- NEW YORK, July 22.—The strength |close to the initial range. 31 |pected. Phillip Morris opened up & of Japanese government external loans | Higher quotations for hogs tended 15 |above its Friday's close and contiaued |today was one of the most fnteresting |0 lift provisions. wiand 011" B n demand lh‘;;;u[z:nu!.xho session. {incidents in the bond market. COTTON MARKETS. ol ..ol 25 a2 Ol shares siearn il The first and second 4s broke into| NEW YORK, July 22—With pros-| g e ey AW Al B Tole: Selling of Byan Corsotiiated {the highest zround of the vear and the gzglls :;:nr c‘.’\r:t'(:“?m;:‘t !?:l:;\fel:;:, sonRel did not come into the market and |sustained Improvement in sterling ex-lat the opening today. and first prices| 3% Marine ol 1% | tucky were steady. while modereis {change was considered an influenee in | Were unchanged to 15 points lower, with | e A 2., | selling of the New York stock “caused | Argentine 58 were a feature also and {iocal covering there was practically no | 2 Mountais Producers 1&’. 132 nm .Uum,. rlfi,:omoocllh'e Ban e Ceature. mad {the remainder of the forelgn group were | demand, speculative interests as well Mutual Oil . T ) RO e o the mar. {active and firm. as the trade apparently holding off to New Erg Fuel. R R e auber and {""United States government bonds weFe : await the many private crop reports: New York Ol 2% 2 | Soint AiancE drojn Ilday s dow ;in demand at their high level. the fourth | due next week. Wall street and New % A e T aad Dubiler ' {43 surpassing their best previous|Orleans houses sold a little at the| Jtvan Consotidated 34| Mining shares were fairly active, iprice for 1 |start on clearing weather conditions | Salt Creek 103 bt DECE ChnnEes Wore moel. Booa i Rafl Tssues Higher. in_the eastern belt. H Sl Crerk 113 | were quiet with few features. ! Little of consequence happened in the |, Futures _opemed steady; October.| I0 Saruine Ref, 3% y {raiiway and Industrial bonds Cleve. | 21.20; December. 21.88; January. 21.74: | i SUei 6™ ST ZEerd {land Union Staticn 5%%s, recently floated, | March. 21.65; May, 21.55. 500 South States 0% FOREIGN EXCHANGE. touched a fresh top. New York con-| NEW ORLEANS, July 22—A highly | 1000 South Pet & itef. 17| Selling checks—dollar values at 11 a.m necting railways guaranteed 4ls rose | irregular market developed in co Hinsl ;‘r!_;"-‘v',};“ Corp. London . 4.46. i%; points, Detroit United Railway Con- |ton _today, July displaying marked | ‘S 1exen Oif & Land k solidated 41is got to §4. {werkness, while other months were| 1400 Wi off . " 3 Copenhazen Interborough Rapid _Transit re-|steady. Although moderately de-| 600 Woodburn Oil 0 Curistisnia .. funding 3s, among the New York city | pressed. In the first hour of the se = Stockhoim .. { tractions, were strong. So were Cuba | sion, while July lost S0 points, Jan-: _ MINIS Amsterdam Cane Sugar §s, up over a point. and 'uary lost 12. July fell off to 21.15| 2004 -Rrit Col Met 2 e T'nited States Steel sinking fund 5s. {and January to 21.18. October lost 17| yohm 3 2 casreet Although there was some selling of | points at 21.28. ~Liquidation by longs | ‘Jooo 1 S 208 L] By i Asiaiad Feem: the Denver and Rio Grande Consoli- | weakened July, and the selling ap-| 1000 3 34 NEW YORK, July 22.—Foreign ex- {dated 4s, no abrupt chamge occurred |peared to be prompted by claims of a| 100 s %4 |change, irregular. Great Britain, de- as a result of the announcement that | weakening spot basis. Otherwise the | 1300 C: i 50 50 |mand, 4451 cables, 4.45%: sixty-day a receiver had been named for thelselling appeared to be due to unfa- | 3% Lortez Siiver I 1, 1x(blils on banks 443%; Faunce, de- railroad. vorable labor news and dry weather | 4o prma: Sieer Mine ~ mand, 8.371; cables, §.30: Italy, de- Canndisn Pesds in_the eastern belt. 110000 Bureka Crocsus o 85 95 9y |mand, 46433 cables, 4.65: Belglum. - B 5 Futures opened steady: July 200 Gladsden Copper .. K -4 |demand, 7.923; cables, 7.93; Germany, Trading picked up at the close oflgctgper, 21.31; December, 21 1000 Golden_ States . 4% |demand, 19;" cables, .19%: Hol ! the week in the New York market for { perOPST (5-308 0O e 100 Goldfield Florence 33 {demand, 38.55: cables, 35.50; Norwa Canadian provincial bonds. ~ Manitoba | 147" 4000 o Sweden, demand, 25.90 i old nllsi‘:'o'w;;x;e“a:?t‘egd”9:':_’!“:1‘. CHICAGO LIVE STOCK MARKET. |20 19, | Denmark, demtind, 21.53; Switzerland, | offered at 100 the 65 of 1930 were 100! 'CHICAGO. Julv 22 (United States| 300 op% {demand, 19.12; Spiaiu, demand, 15.5%; s e a1, hia, offered at 107, |bureau of agricultural economies).— ! 1tmn I ning z1a) { Greece, demand, $11- Folend. demand, 1945 were 106 bid, of O 4000 Tnsep Toaa snanx s |-01%; Czechoslovakia, demsand, 2. {Ontario 6s of 1923 were 100% bid,| 2 DES: 21 ad: COMPAT- | o0 Knox Divide : Argentine, demand, 36.75; Brazil, d. offered at 101: the s of 1930 were(€d With a week ago. choice and prime 0 T Gt Pl and. 13.35: M, GALAD, RS, Ak 10112 Dbid. offered af 102, and the 6s|beef steers, strong to 15 cents higher: | “Jo Mason v R 1 B e Pt e of 1943 were 106% bid. offered at 1 lower aranes Inciuding Eriasers, very | S0 Mociarton a2 slow stly 35 cents lower: | 11300 Mocherlode cif pots off more; best beef cows and| 8000 National Tin &8 INDUSTRIAL NOTES. WOOL DULL BUT FIRM. {heifers and canners. unchanged: in; 20 Yetads opbir 20 | Jones Tea sales for June amount- * {between grassers sluggish: mostly 25| 00 Sew r’flm‘"rfln 16 I 2% led to $1,432,069, as compared with R —— to 35 cents lower; spots on common | pooo Pitts Mt Shastl ... 25 22 a3 |3L,392.943 in June, 1921. For six Some Buying Only of Better |to medium cows, 50 cents or more off;: 1100 Ray Hereules Mines 2 1% mon of 1922 sales were $8,605,856. bulls and veal calves mostly 50 cent«! 4000 Red Hills . 01 an increase of $48,681 over like Grades at Boston. lower; stockers and feeders strong;! 10% Rex Consolidated 08, period in 1921. = 5 week's top beef steers, 10. i 100 Sheldon Mines Industrial Salvage has declared a BOSTON, July 22 (Special).—Dull-|ylk prices beef steers, 1000 Siiver Pick special dividend of 10 per cent, equal ness and firmness were equally ap-|phutcher cows and heifer: i e A 3% |10 10 cents a share; on stock payable I parent in the wool market today.| hnners and cutters. 2.90a3.75; bologna | 4000 Success Mining g |August 10 to stock of record July 31 > i There was some buying of the better | lis, 4.50a4.75; veal calves, 9.00a8.50: | 1500 Tonopah Divide k4 1llinois Central road has purchased i grades, three-eighths blood and finer | stockers and feeders, 5.75a7. 100 Tonopah Mining 1 1% | sixty-five locomotives, costing $3.000.- at current prices. Holders are firm |~ Jogs—Receipts, 4,000 head: opened| 200 Unity Gold . 3 37, | 000, for October delivery. Of these in their stand, as they are convinced {apout steady: closed 10 to 15 conts, jag Lmited Eastern 1% 1% | twenty-five of the Central type come that delay on the wool tariff will|jower on ®good lights and light| ‘toy woct Eud Con e % . |from Lima Locomotive, twenty-five prevent the withdrawal of bonded |pytchers; others steady to stroni i * % 1% 1% Mikados from American Locomotive, wools before October or later. Buy- |spots, 10 cents higher; top, 11.00 earl BONDS. and fifteen switch engines from Bald- ing throughout the growing districts | practical top, late, 10.85; bulk, good| 10 Allied Packer 6s ctf. 64 6 64 | win Locomotive. is reported to be slim. with growers | pytchers, 10.25a10.75: hold = ovi 1 Allied Packer 8s 9 95 85L Nevada Consolidated Copper will holding stubbornly for higher prices | moderate: phckers mostly, 8.0029.00:, .4 Aluminum s 1825 % ms 108% | reconstruct the 12:000-ton concentrat- than bidders are naming. | pigs, slow: heavyweight, 10.15a10. 10 Aluminum 7s 1933... 108% 105% ing plant which was damaged by fire Little buying was reported for | medium. 10.45a10.80: Iight, 10.70a10.8 1Am Tel & Lol s 24 J01% 10i% 101% | jast month. The loss is estimated at American accéunt at the London |ijght light, 10.40a10.85; packing sow B Armonr s O %305 Jog™ 105 |less than $2,000,000. 5 {sales, the tone of which was firm. | smooth, 8.40a9.10: packing = sow 3 Atl Gult& W 1 Ge.. 626 02 62%| Hudson Trust of New York has . lmugh.' 5a8.50; killing plgs, 5.608 | 4 Beth Steel 7n w30 03 | 102y 1024 | been x‘n:gentru;ce:‘:tcfiioo‘o.on;n Jssue 10.50. 2 15 Bklyn Un of United Broker: ateral 6 per $1,500,000 HOTEL PLANNED. |'’Gncep—Recelpts, 3.000 head: com-| 13 Bab Sur®noh By B0, 18, |cont serial gold bomds, maturing Hamllton, the capital of Bermuda,|pared With a week ago: fat lambs ind | '] Charcod] Tron fer... 03 035 0o | 19231937 @ e of Kansas City is to have a $1,500,000 hotel with 300 ; yearlings mostly, 75 to 1.00 lower:| 12 Deere & Co 7% Al doae am=d CIoNS RRER R S ta Ahe fru rooms, according to report from that|cull lambs and light sheep, 1.00a1.50! _2 Gnlena Sixnal Ofi 7s 1084 1053 108y | Southern dropb piy in the 0 . Reies ah 15085, v 27 Goodrich Tire 7s.... 1 half year, the total being $9,710, city. The site chosen is known as|lower; heavy sheep, 1.50a2.00 lower;; o 11,056,319 in the correspond the Rosebank and Long House prop- | feeders, steady to 25 cents lower: best | 3 Ulf Ofl Ts Rt B et abier ranes erties. overlooking the west end of |yvearling Dbreeding ewes, 4 Hood Rubber D red. 3602,917 to $1,803,639. Hamiiton harbor, a charming leca- | others 50 to 100 lower; 1 Humble ONl 78 O s and not arnings’ of tion well adapted to hotel purposes.|native and western lambs, 13.50; fat| 7 Inter R T 8s c-';'“h‘r"',ce show up well with in- It will have tennis courts, a swim- | ewes, 8.00; feeder lambs, 13.00; closing | T o of $556,042 and $658,461, but ming pool and something unusual In|bulk ' prices, fat lambs, 12.50a13.00;| } Jaclede Gas 7o, e welve months ended June 30 the way of a tropical garden. gu;oil‘xsh’; ewes, 6.00a7.00; heavy ewe: 1T M Copoer T treases of $6.439,651 and $6.251. re_reported. COTTONSEED OIL STRONG. o == : NEW YORK, July 22—Cottonseed ummculsm STRANDED. : oil cloeed strong. Prime s -| LONDON, July 22—A Lloyds dis- Tow. amot, 107081100, petmn rror |patch from Constantinople stated that x LA -00; prime crude, | ;o American steamer Higho was nominal, July, 10.70; August, 10.64;|stranded on Cape Kerempe on the September, 10.70; October, 10.07; No- | Black sea. The Italian stezmer Remo vember, 8.78; December, 8.58; January, | W38 standing by. The Higho left { Constantinople for Batum on June 30. ASKS $1,000,000 ROYALTIES. MILWAUKEE, Wis, July 22.—Mrs. Robert C. Eddy, wife of a former em- ploye of the Goodyear Rubber Company of New York, branch here, has filed suit for $1,000,000 to cover alleged royalties on articles invented by her late hus- band, which she clalms were made by the rubber ccmpany. self some time ago. —_— BAR SILVER QUOTATIONS. NEW YORK, July 22.—Foreign bar 8.5 9,700. February, 8.50. Total sales, —_— ‘WILL REOPEN SHIP LINE. International Mercantile Marine an- nounces that the Atluntic Transport passenger service between New York and London, suspended in the war, will be resumed next February or March. Two ships, the Minnewaska and Minnetonks, building at Belfas will start service. They are_600 l"t'.. long, have a gross tonnage of 21,000 and ‘will earry $30 first cabin pas. |silver. 69%: Mexlcan dollars, 53, sengers. The old and popular fleet | LONDON, July 22—Bar silver, 35%d of the “Minne” class of liriers was |per ounce; money, 1% per cent. Dis- count rates—Short and three-month bills, 2 per cent. —_— Dret manufacturers report good business. Salesmen on the road are not taking large orders; but are doing business every -day for immediate wiped out completely in the war. NEW YORK BANK STATEMENT. NEW YORK, July 22.—The actual condition of the clearing house banks and trust companies for the week shows that they held $43.880,780 in excess of legal requirements. This is | needs. appears to be no object an increase rof $31,564,230 from lastjand the demand is for the better week. grade of goods. 5 Winchester 7%s ... FORBIGN BONDS, 3 Argentine 7n 1923. 100 10 Can Steamship 7s (133 5§ King of Met 6s. 96 5 Mexlco Gov B 12 5 Mex Gort 6s. 17% 9NY NHFr Tdly 6 Bwiss 5 108 10 U 8 Mexico 4s. 39y Bady shot him- | g0ORE HURT AS BOATS CRASH. BOSTON, July 22.—A score of per- sons were hurt when the steamer Dorothy Bradford, a pleasure boat, making trips between this city and Provincetown, collided In a fog with the collier Arlington in the harbor. Eight of the injured were taken to a hospital. * —_— |, Men's:shirt manufacturers report an active trade. Many plants are work- ing on full time and approaching nor- mal production on a pre-war basis. Novelties are going well, while sta- ple lines are moving in moderate volume. Orders e for immediate delivery. - SPACE The E(li-monds ‘ Building 911 15th St. N. - W Washington’s # Newest Office Building- : Harry Wardman - 1430 K ST.N.W. f Main 4190