Evening Star Newspaper, July 28, 1922, Page 10

, 10 FORD FACTORY 100,000 CARS - - - BEHIND ON CLOSED MACHINES Coal and Rail Strikes, However, Have Halted General Industrial "Ac'tivityb v in Detroit Area. o was 85 cents seab m.bum-ot-fl»ln-mr orchards and ywers with are talking higher prices. Business in Southwest . #r ¥ w. FINING. Special Dispateh to The Star. ST. LOUIS, duly sies: to effect a “settlement. shows an increase of 850 workers.for the last week. " Until the strike situation became critical, the average Industrial em- BY PHIL S. HANNA. Speclal Dispatch to The St DETROIT. July 2 ‘csused by- the strik: conditions are normal, an: “The Ford fac- vity wh “Presence | west is slack right now, as it usu- of the | ally is n fruit | tone s _ve: —Business 13 showing Immediate response to the evident desire of opposing interes in the coal and rail labor wlnt!r‘ov?;- s in- dicated in thjs section that each side is eager to find ways of renewing Operations. = Save for the disturbance commercial with an ad- justment the outlook is for great ac- aftér the middle of August, tory is 100,000 cars behind on closed the usual summer dullness J ployment increase was_ about three h. cars. despite the fact that they are|thousand workers & week. S e arly S turning out more cars than ever be-| The Michigan cucumber crop{ which | (aijed operations: because of the coal fore. The Hudson, Maxwell, Chevro- | Normally exceeds that of other states|ghortage, yet manufacturin has factories have just fin. | Ith its 10.000 acres under cultivation | seood up remarkably well under the Jat aud Bodge facioxie o o will be about 20 per cent short this|gstrain. The exorbitant prices for ished the best six months’ business|yeat. Pickle plants are opening early {'entucky, Tennessee and Alabama because of the threatened shortage and high prices are expected. Fruit canning factorles in the vicine'| ity of Traverse City are ‘working tn their history. It can be fairly stated. however, that thegoal and rall strikes have slowed down industrial umn, indust; the The coal have broken in the last day or! two, for, a8 was forecast in this col could not afford to pay ecline- has amounted 10, activity in Detroit./ although they l\l‘h: and day on lh; ‘Cohol::] C;:D, :Bnutix Bh.lbn.l A I:r';lb:;xobl ll:‘!e 5 . % canning an average of 50,000 a ddy. | factor: ve ingtalie -burning have not vet caused a decline. This| SRRNTE 25 STARRS 00 11 i0C tn'the | Rpparatus and comviawed with thelr is borne out by the report of the em- | history of the district. ployers’ association today, which ' for apples at the Grand R Opening price ids m: operations. ‘Business ‘all over th “Tires at Wholesale Prices” We have just received another carload shipment of the N‘tionglly famous Barney OLD- FIELD TIRES, which we are offering to the public at wholesale prices. We have been distributors for the Oldfield Tire for three years, and are now pnrchuing in carload quantities, which enzbles us to offer you these speed and road tested tires at the lowest prices ever quoted. . Every tire carries the full factory guarantee and - ° is backed by Lebman’s Special Tire Service Fabric Cord Size $7.95 e 32:4Y, 9.50 33x41, - Pk 34x41/, 35241 36x47, 33x5 35x5 37x5 Size 30x3 30x31; 32x31; 31x4 32x4 33x4 34x4 $18.75 22.35 24.20 25.45 25.95 FREE TICKETS to Saturday’s Auto Races with every sale of a tire or inner tube. SPECIAL 30x3 “999” non-skid Oldfield $6.95 30x3!5 “999” non-skid Oldfield $7.95 Mail Orders Promptly Filled If Accompanied by Remittance LEHMAN'’S TIRE SHOP Oldfield Distributors 811-13 H St. Northwest Phone Main 464 We Close Tomorrow—1 P.M. STARTING TOMORROW—8 A.M. Every STRAW HAT IN BOTH MAN’S STORES at two sweeping prices 500 $3.50 and $4.50 i $2.50 and $3.00 STRAW HATS | STRAW HATS $135 | $].95 Thousands of choice new, crisp, clean straws for -this season or next. Complete line of stvles and sizes. All our own stock. Regulay $2.50 to $4.50 values. 3 i T z = . The Great Clearance OF ALL FANEY SUITS_' .. OUR MAMMOTH SHIRT CARNIVAL has the town on its ears, Thousands of quality SHIRTS OF FAMOUS - " MAKES * Reduced to— All Black Suits and all small lots of Blue Sergés continues apace south’ and t this season, but the under- ry, strong and plans are Yor large expansions in production and merchandi: 3 sing. ' Pu! chases from wholesalers are m than at any time for eighteen mont! being made " Stackens for Strike-End | Bright Trade Spot South High Tendency of Cotton BY ESTES DOREMUS. Special Dispatch to The Star. 7 ATLANTA, July 28.—Business out- outlook brightened up considerably in the lnuthufl today on prospects. of an early settlement of the strike diffi- culties. It is realized that if-the strikes are nog speedily settled the big mains mn({b by business In the last six months will be offset and a profitable ~year turned into a disas. trous one, No great damgge will sult from the labor troubles provided the men réturn .to work in the next week or ten days. ¥ One bright spot In the situation of the south {s the tendericy of eotton to remain above the twenty-one-gent Worthy estimates that the carryaver Will be nearer 5.000,000 bales than the 3,000,000 anticipated, and that the new crop will aggregate 12,000,000 bales, approximately a million bales more than expected on the basis of the first” government bureau report. Cotton men in this territory #re loath to believe that the growing plant sas shown such unprecedented improve- jnent, and tne consensus of opinion here Is that better prices will obtain this fall. J Building in Atlanta so far this year has passed the $10,000.000 mark, which is equal to the amount expended for construction in the entire year of 1921. The railroads running out of this center are advertising for men, offering permanent jobs at good Wagges, Commodity Reports From Various Sections ;E\RO’ Rubber. LRON, Dhic, J 28 -(Special).— June business done'by B. F. péuodr’lch Tire and Rubber is reported to be largest of any month-in history of congern. Production continues at 20, :):;vz "[’Ee;w;m"y} Firestone is produc: ing 25, casings a day, Goodyear 26,000 and Miller, 7,500. i Frute MOMETT, Mo., July 28 (Special).— Grape shipments will begin from thi :_l‘ecllon shortly after August JTOWers are greatly concernes the rall strike, whic e delay arrival of 240,000 baskets for packing crop and shipment of fruit after it has been packed. BOSTON, July 2§ (Special).—Cran- berry raisers are setting fruit in some of the bogs on Cape Cod. ~ Wool. KANSAS CITY, July 28 (Special).— reaction from the sharp upward price movement in wool seems to have developed in this territory. There is less_concern than usual among grow- ers over this decline in price because labout S0 per cent of this clip has already passed from their hands. Automobiles. active season. Trade sentiment indi- cales that information has been re- this fall. Chemicals. PHILADELPHIA, July 2§ (Special). —Improvement is noted in the chem- ical market, which has shown an in- crease in volume of business. _Prices are firm, but below level years. Dyestuffs are in good demand. mber. Long Bell Lumber has com, plans for transferring major p:ll'ilf)? its activities from the south, where it operates eleven mills, to northwest, where gin fir forest have been obtanied. A town which will house 1,000 employes will be constructed vi Columbia river, fifty miles from Portland, Ore. Hatx. July NEW ORLEA (Special).— of hats are double those for Jul 1921 They declare that indications show August will be fully up to July record. Multigraphs. CLEVELAND, July 28 (Special).—rA large maker of multigraph machines reports sales, inciuding those In Can- Non-Ferrous Metals. JOPLIN, Mo.. July 28 (Special).—The rail strike has not affected the de- mand for lead and zinc ores from the tri-state fleld. The total value of ore sales during last week was $607.754, with increased prices of week before |firmly maintained. { Tobacco. PHILADELPHIA, July 28 (Special). {—Local cigar factories ceedingly well and are heavy buyers of leaf “tobacco. Potatoes. { PITTSBURGH, July 28 (Special).— Potatoes are heavy in market her Virginia and Maryland product ha ing dropped 25 to 35 cents a parrel. N okol MUTUAL ‘WASHINGTON, D. C. level in the face of apparently trust- | which they fear may| SEATTLE, July (Special) —An- ticipating further price reduction, |auto dealers are now buying closely | after an unusually profitable and ceived of lower prices for small cars of recent ! KANSAS CITY, July 28 (Special).— | i Pacific | 70.000 acres of vir- | Jobbers say July sales and shipments | ’ 1411 New York Ave. N.W. MARKET AGTVE, WITH RAILS LEADING Stooks of Companies Affect- ed by Strikes Settle- ment Firmest. BY STUART P. WEST. NEW YORK, July 28.—The stock market ‘decided, from close evamina- tion of today's news, that confidence in an improving outlook for the strikes was not misplaced. The di- rect response to-this impression was j& 'very strong tone in the rallroad jshares, which carried the average of rail stock prices to the highest polnt in three years. At the same time a £00d “demand for’ rallroads equipment and most of the steel stocks reflected a growing ‘belief that both the rail iand coal troubles would be in a fair way of scttlement before many days had passed. Speculative buying of the rails had all the vim of Thursday's closing loperations at the opening and for {some time afferward. Balfimore and 1Ohio, New York Central, Chesapeake and Ohio, and others of the well paced dividend payers were not long in advancing from a point to more than two points. American Locomo- ive went 10 & new high record, above 118, as did American Car and Foun- dry, with a gain of 1% points to 170. Steel Acted Slowly. United States Steel proved to be ! somewhat sluggish after a firm start, but the rather indifferent action of that stock was off-set by strength in Republic and Bethlehem. The early ) gains, added to the previous day's up- turn of & point to more than 6 points, quite naturally induced heavy profit- | taking, and this contributed to a de- ; grée of irregularity around the mid- i dle of the day. Studebaker stood out |as an exception - to the general trend by receding, and under pressure suf- ficient to suggest that a great deal of pool etock was coming on the market. Strike Situation. i Stfike events as reported, seemed to jshow that important decisions were ieven nearer than was thought prob- able on Thursday. It was realized i that President Harding had made a { powerful plea to both sides In the I rail controversy, the proof being the { meeting of rallroad executives called } for next Tyesday in New York. best information obtainable i showed that the President had cen- tered his plea on two points—the re- turn of the shapmen to work pend- ing a rehearing of their case by the ! Railroad Labor Board, and the de- | sirability of a reconsideration by the iroads of their attitude toward the seniority of striking workers. | But from what the public kno: {about the strike a favorable decision jon either of these provisions would i pave the way to agreement on other i disputed factors. As to the coal strike, the market believed that the i conciliatory spirit of operators and j workers in central competitive flelds reflected pressure on both sides, and | encouragement lay in the full prob- {ability that this pressure would grow more irftense. Money Plentiful. Some striking changes in the Fed- eral Reserve Bank statements this |week displayed more clearly than ! previous reports the very casy posi- i'tion of credit. The system as a whole incramsed its cash reserve by more than $12,000.000 coincident with the fall of $6.000,000 in circulating notes and a drop of no less than $54.000,000 in deposits. The product of these { changes was seen in a rise of 135 per cent ifl the reserve ratio. one of the Imost extensive gains for any week jof this .vear. The New York bank drew heavily on other institutions, chiefly through a $37.000.000 increase in its credit with the gold settlement fund. Al the same time rediscounts i receded $63.000.000, carrying deposits idown $32.400.000. The showing fore- jcast continued easy money in New {York. The call loan renewal rate jwas again 3% per cent. Wall Street Cheerful. Wall street expressed its cheerful »|hess regarding the strike outlook by :bidding up prices on the stock ex- jchange. The stocks of companies !most vMtally affected by the settle- iment of the coal and rail strike were | jof course the ones which came in for ‘the most attention. These were the {rails, the coals, the steels and thi equipments. Practically all of the ada, for first six months of 1922 were rail stocks moved ahead rather sharp- | leav the largest in the company’s history. {1y, while Crucible was the leader of | cure: high ground fog the year, and Baldwin | nigh ground for the year and Baldwin !showed the way for the equipments. {Burns Brothers was the medium of expression in the strictly coal stocks. H Cocoa Estimates of Cocoa-Cola earnings in the first half year put them at the rate of about $12 for the full year with at least three extremely good months yet to come. This estimate is made after preferred dividends and {is reported that the company has sold one million gallons of sirup so far this month. _— Blair & Co. announce closing of i‘books on issue of $5,000,000 Otis Steel first mortgage twenty-five-year 7% {5 to 6 per cent and the interest on ad- | per cent sinking fund gold bond: Where Are You Going to Get Your Coal This Winter? Last winter over 150 families ‘right here in Washingtén did not have a piece of coal in their cellars—yet the tem- peraturé in their homes never varied more than two de- fram 70 degrees, regardless of the outside tempera- ‘ture. Their-answer was and your answer should be—the AutOmatic Heat NOW—and that means tomorrow—you should see a dem- ; onstration of this WONDER METHOD-OF HOME HEAT- ING, for with the first cold spell there comes a rush for heating apparatus. Our salesmen will be only too glad to show in actual demonstration—heating-our showrooms. RVICE BUREAU, Inc. SE - DISTRIBUTORS LOCAL WHOLESALE PRICES. Eggs—Strictly fresh, selected, can- dled, per dozen, 35a26; average Te- ceipts, 24; southern, 23. Live poultry—Roosters, per 1b., 15; s, Ib, 25; spring 5 ::-"1:;‘1‘,1;: 25a28; keats, ’v:m'b each, Dressed poultry — Fresh killed Spring chickens per Ib., 30a35: gu- 1b., 26; roosters, ver 1b.. r'1b., 35a40; keats, each, 6 Live stock—Calves, choice, per 1b- & ; thin, Der per Ib.. 8a12 live hogs, pel er bbl., new, per bue 2 youns, Green frult—Appl 100M5.00; per bu. basket, nea 2.00. California 'oranges, per CTate: 800210.50; lemons, per box, 4.50a6.00. Raspberries, 20a40.. Peaches, per crate. 1.00a8.00. " Cherries, per basket, 20a76. Cantaloupes, 75a2.25, Vegetables—Potatoes, new, per bbl., NG. 1, 2.75a3.50; No, 2, 1.00a1.50. Let-; uce, per crate, 50a75; New York, per rate, 1.00a1.75, Romaine lettuce, 1.50. Cymblings, per crate, 26a75. Onlons, per basket, 75a1.75. Cabbage, DEW/ per bbl, 5021.00. Cucumbers, ;zr box, 75a1.50. Eggplants, per crate, 2.50a3.50. Tomatoes, per box, nearby, 15a2.00. Beans, 300a5.00 per bbl. Peas, 6.00 4290 per bl Peppers, per crate 50 3 e, 75a1.00. Spinach, per 2.50a3.00. ¥ e COTTON MARKETS. NEW YORK, July 28—Responding to continued dry, hot weather in th southwest and more favorable new regarding the strike situation. the cotton market opened steady today at a net advance of 9 to 11 points. Wall street and_ Liverpool were buyers, and New Orlens interests the chief sellers. There was some buying after the opening in expectation—of bullish week end statistics t8day and un favorable weather details at rioon. Spe- cial reports from Georgia and the Carolinas today were unfavorable as to_crop conditions. Future: steady: cember, 21.30; Jenuary, May, 20.96. {CARLOAD OF RASPBERRIES | IFROM PACIFIC AT 10c. PT. Ce- October, | March, | a1 Grain, Produce FINANC and Live Stock GRAIN AND PROVISIONS. BALTIMORE, July 28 (Special).— Potatoes, new, barrel, 2.50a3.25; No. 2, 1.25a2.00; bushel, 50al.15. Sweets, new, barrel, 5.00a10.00. Yams, 6.00a 7.00. Teans, bushei, 40s1.00. Lima beans, bushel, 150al.75. Beets, 100, 1.00a2.00. Cabbage, 100, 2.0084.00. Carrots, 100, 2.00a4.00. Celery, dozen, 7581.25. ? Corn, dozen, 8a20. Cucumbers, bas- ket, 20230. Eggplants, basket, 1.00 a1.35. Lettuce, basket, 5081.50. Onions, bushel, 7521.00. Peas, bushel, 2.5023.00. Peppers, basket, 50a6 Squash, basket, 25a30. Tomato basket, 35a60; bushel, 65. Apples, early June, barrel, 1.00a2.00; bushel, 50al1.25. Blackberries, quart, ! 15a20. Cantaloupes, basket, 50a75; crate, 1.00a1.75. Cherries, basket, 50 al.00. Currants, quart, 10215, Dam- gons, pound, 5a6. Gooseberries, pound, 7a8. Huckleberries, quart, 15a20. Peaches, basket, 50a1.00; crate, 1.75a 3.00. Pineapples, crate, 2.50a4.50. Plums, basket, 40a65. Watermelons, each, 15a40. « Selling Prices at 1 0'Clock. ‘Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 1.24%; No. 3 red winter, spot, 1.21% per bushel; No. 2 red winter, gar- licky, spot, new, 1.21% per bushel; No.'3, 1.10 per bushel; July wheat, spot, new, 1.17% per bushel; August wheat, 1.16 bid per bushel; August wheat, first half, 1.17 per bushel bid, 1.17% ‘asked. Sales—Bag lots of nearby, by sam- ple, at 70, 76, 85, 80, 95, 97, 1.00, 1.02, 1.03 and 1.08 per bushel. “argoes on grade—No. 2 red winter, gatlicky. 1.163% per bushel; No. 3, 1.07% ‘per bushel: No. 4, 1.04% per | bushel; No. 5, 993 per bushel. Corn—Cob corn quoted 3.7 askedf contract corn, spot, bushel; No. 2 corn, spot. 76% corw, spot, 73% per bushel; corn, yellow, No. 2 or better, 81a82 per bushel. Sales—None. Oats—White, No. 2. 47 per bushel | asked . 3, new. 46:46 Rye—Nearby. bag lots, 75895 bushel; No. 2 western export, spot, 92 per bushel; No. 2, no quotation. Hay—Receipts. 76 tons; range is| 17.00 to 20.00 for new timothy and | mixed hay: market firm; supply on hand ample for trade. Straw—No. 1 tangled rye. 15.00; No 1 wheat, 11.50a12.00; No. 1 nomjnal, per | NEW YORK, July 28.—The first car- | load of raspberries ever received from | the state of Washington on the | market here today. The stock was good condition and packed twenty- four pints to the box. The demand | was limited and most sales were made | at 10 cents per pint { WOOL MARKET STEADY. _Firm Attitude of Sellers Reflects Tariff Developments. | 12.00a13.00. CHICAGO, July 28. | Advances in the wheat market took place today in the last half of the board of trade session, export buy- ing ap a large scale being renewed. Thereé\ was also a noticeable let-up in hedging sales. The close was unset- tled at the same ax yesterday's finish to 1% higher. with September, 1.08% 10 1.08% and December, 1.10% to 110%. Subsequent announcements were | made that 700,000 bushels of wheat had been bought here for export, 1,060,006 at gulf ports. and 300,000 at BOSTON, July 28 (Special).—Prices | in the raw wool market were not ma- | terially changed today, but the result! of the recent tariff developments at| { Washington were evident in the firm | {attitude of sellers. Manufacturers are making many inquiries, but few pur-; chases as yet. Activity for Ameiican acdount was jreported in the medium-grade wools oftered at Liverpocl, and wools of those grades are strongly held here. SEEK CLOSER CO-OPERATION. | NEW YORK. July 28.—A committee on Canadian relations has been pointed by President McAdams of th American Bankers' Association, af a visit of the administrative commit- tee of that organization to Montreal. Conferences were held with the Cana- dian Bankers' Association. secking closer co-operation between bankers | | in the United States and the Dominion. { e e LEAF TOBACCO MARKET. | BALTIMORE, Ma., July 28—W jarrivals totaling 2.306 hogsheads. the istate tobacco warehouses were not| | able to sample all these new receipts. | | Sales footed up to 1.45¢ hogsheads | which figures probably about i repre- | (sent the new .fferings during | the past week. [Prices remaincd un- i changed. 1t seems that the heavy rains in the early part of July have riously i ijpred the growing crop and rust orl | wild fire is again making its appear- | lance in many sections. | Prices per 100 pounds—Inferior and frosted, 3.00a4.00: sound. common, .00 28.00: good. common. 900417.00: me- | | dium, 18.00a27.00; sRovd to fine red, {28.00a50.00: fancy. 00 se mmon to medi 10a10.00: | good to fine, : 2.00a26,00; ). nominal. Unsound_and badly mixed packeges from 1 to 3 cents lower. BAW SILK EASIER. NEW YORK. July casier. Prices per double extra cri Dbest No. 7.2587.35: 1 Canton extras, 14-16, an; I3 hai, China, steam fil, gold double deer, Calr- are doing. ex- | the allowance of $425,000 for taxes, 1t |8.25a8.40. Steel unchanged. REICHSBANK RAISES RATE. BERLIN, July 25.—The Reichsbank today raised the discount rate from vances from 6 to 7 per cent. Machine you a NOKOL ap- | ecember i ks | prints, 3s; { packed, ground | st eastern seaboard. Bulges which en- |named | the | with i tutions are {mald W.'T. !issue will | plainly IAL. AMERIGAN BANK * NGT T0 BE SOLD Negotiations With Merchants Called Off This Morning. Strong Stock List. BY L A. FLEMING. Negotiations which have been on fo! the last three weeks for the sale o) the American National Bank, with the Merchants' Bank and Trust Company as the probable buyer, were called off today by W. T. Galliher, its president and the deposit made by the las institutino to guarantee it part fm the transaction was returnec today. . During the last month two or threc efforts were made by other institu- tions to close negotiations for the American National. It was reportec that W. T. Galliher desired to retire from the banking business and give his attention to other business de- mands. Directors of both the American and Merchants' banks considered the plan for a sale of the former to the latter Indeed, arrangements were made for the former to take over the entire personnel of the American National's staff, ‘with W. T. Galliher as an in active vice president, Cashier Wal as an active vice president and rest of the force suitably placed. A slight misunderstanding vest day delayed what was considered @ certain closure of negotiations, bt calling off of all negotiations leaves the American National Bani in status quo, wit® W. T. Gallihes long its executive, in full contre W. J. Waller s cashier, with Louise Mitmell assistant or Miss cashier. Just ‘what or wh; the plans mis carried was not stat:d. Both inst recognized us strons colid banks, each has a large clien tele—and its place in the banking fleld of Washington. “There are no negotiations now underway for the sale of this bank.™ Galliher. “but the nego tiations were on until we returned the deposit to bind the agreement, this morning.” Mr. Galliher will leave tomorrow for the southwest on a business trip. At a Premium. The new Treasury four-year 4 cent notes to be icsue? August 1. now selling at a prem'um. That be largely oersubscribed evidenced by tMe cfforts of u jocal natlonal bank to ofiain a sufficient amount of the notes f6+ its customers and for the bank itself. per are t sued were partly offset by profit-tak- nic. The corn market closed firm same as vesterday's finish higher, with 631 at the | 1 i ptember, 6338681 to! WHEAT Open. High. July Ao 1113, i September 1090 { | D 11 a7 8415 a1 aas ! won 91 | DAIRY MARKETS. | | BALTIMORE, July 3% 5 | Poultry—Live spring chicke . { w leghorns, 18a23: old ens,’ 22435, white leghorns, 3| old ‘roosters. 14al3; ducks, spring ducks, 20a2: pigeons, pa ff. native and n : southern, 21. eamery. fancy a nearby creamery, 34a35; | store | 26a27; | firsts, do Butter- ladles, y_ prints, process butter, 32a33. —_— CHICAGO LIVE STOCK MARKET. CHICAGO, July 28 (United States burcau of utural economics).— | 4,000 head: market| Cattle— 3 beef steers strong; top ¢ active vearlings. 10.35; | 49.75; she stock | culves ste: bulk beef | cows and . 5.00a7.25; bulk veal- | | ers. early, 00; bulls, dull: bid- | {ding around 4.6 Hogs—Receipts grad light and butchers, mostl {10a15 higher: spots, 20 cents highe " verage: top. i0.60 : bulk, good butchers, d and packing grades: j15 gher: good packers, mostly {s ; Digw. strong to 25 higher. 0 9.50810. eavy, 9.50a10.00; { medium, 9.90a10.50: light. 10.40a10.60; light Jight, 10.25a10.50; packing so | smooth, § packing sows. ! rough, killing pigs, 9.50a ] trong to higher: top natives, | straight, with buik, 12.50a12.6 to killers, mostly ' 830: four ! Oregon lamb: 2 with 240 out; | sheep very scarce: fat native ewes | mostly 3.5026.75; choice ewes not of- | ferea. 1 culls {BETHLEHEM PAYS DIVIDENDS | NEW YORK, July 28.—Directors of | Bethlehem Steel have declared the usual quarterly dividend on both classes of common stock. A state- ment issued by Charles M. Schwab. |ehairman, savs that although dividend | requirements had not been earned | during the second quarter, the cor- ; poration’s outlook was so good as to warrant_payment from its reserve funds.” The volume of orders booked in the second quarter was much in he said, at gradually improving prices. LOAN IS OVERSUBSCRIBED. NEW YORK, July 25.—Dillon, Read fering of $1,815,000 of Boston Maine railroad 5% per cent equipment gold certificates had been oversubscribed. The bonds, which were due in fifteen annual installments of $121.000 each, were sold at prices tc net from & to 513 per cent, according to maturity. BOND FOR BID GUARANTY. PHILADELPHIA, July 26.—The fed- eral district court here issued an order requiring. the Franklin Securities Cor. poration of this city to give within fiv days a borid for $1,000.000 as & guaranty stock of Lehigh and Wilkes-Barre Coal a bid better than that of the Jackson B. Reynolds Syndicate of New York would be made. The Reynolds Syndi- cate bid $32,291,130 for the stock snd the bid was held up through court pro- ceedings on the ground that the Frank- 1lin offer was a better one. OFFICE SPACE In {from other banks, more Su bil | quotation lots changing hands at ito 79 | Capital for best bolognas.: 1.000 head; better ! Sheep—Receipts, 5.000 head: lambs. | cars | excess of those for the first quarter, | & Co. announced that the pubilc of-{ that if the court orders a resale of the | From Richmond cams $300,000 and ssful, were obtained $1,250,000 with 0,000 still desired to supply customers’ demands It is just like giving customers a 5 I with each $1,000 note that they are given, and the chances are that the premium will increase rather than de- crease. Under the circumstances there is { small question but wnat the $300.000 - {00y asked by Secretary Mellon will be very heavily oversubscribed, and it would cause no surprise if 1h { oversubseription reached 100 per cent Lai the Leader. On today’s session of the local stock exchange Lanston Monotype shares were the dctive leaders, with a firm cloe at 79%. Railway preferred. stvong at 1% Traction.. firm at 100% Federal National Bank S»ld at 175 Bonds were slow, but strong, 43 to 94% for Gas os and 7ok Railway 4s. e DRY GOODS FAIRLY FIRM. Dealers Inclined to Wait on Fed- eral Cotton Report. NEW YORK. July 28 (Spectal).— The market for cotion goods did not respond to the better feeling regard- ng the rail and coal strike situation with any increased volume of busi nees today. and dealers were inclined to wiit the appearance of the gov- ernment cotton report next week be- fore mauhing large commitments. The tone of the market for print cloths and other standard constructions was fairly frm. however. at previous jlevels. Dealings in print cloths second hands were small, and the were xome sheetings bought for the i jobbing trade. A fair volume of busi- ness was done in drills and sateens jand there was a small inquiry for { beiting duck. A tendency 1o shade prices some- what was in evidence in the raw &ill { market, but business was very slack e Washington Stock Exchange SALES. at for 10 at 175, .10t 1, . 20 at 794, % Lanston Monotrne —10 at 20 at 9%, 20 at T9%. 20 20 at 79%. 20 at 79%, 10 at = AFTER CALL. Washington Gas 5x—$1.000 at 9515, $1.0M at 9415, $1,000 at B415, $300 at 9415, 00 a1 s hington Railway and Electric 4s—$§1.00( ington Gas Gs—$500 at B4l | Money—Call loan: 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. American Tel. and Telga. American Tel. and Telga. 4 Am. Tel. and Tel. «tl. ir. nd Tel. conv. 68 nd Potomac 5s. 81 and Potom: 87 c Telephone 5 a4 | G nd P Tel of Va. & w11 Capital Traction R. R. 5s...... 271 { City and Suburban 3s...... 84 GeorgetownGas 1st 5 = Metropolitan R. . Bx. 97y Potomac Electric 1st s 85 Potomac Electric cons. 3s.... 95 Potomac Electric deb. os. 2 Fotomac Elec. Power g. m. f. 80 Pot. Elec. Pow. & ref. 7. 107 ash., Aiex. and Mt. Ver. bs.. 24 { Wash.. Bait 5 8 | wastington Gas 5. o Washington Gas 7% | Washington Rwy. aud Eiec. dn. e | wi Ewy. and Ticc. 5. m. s, W% 100 eatty MISCELLANEOUS. Ri alty “long) . Kigks Realty Ba (short). IWF“' Cold Storage 5s.. STOCKS. PUBLIC UTILITY. Tely coln National ‘Metropolitan 32 Riggs - 500 Becond Washingion . TRUST COMPANT. Amerlcan Security and Trust 310 Continental Trusi 100, | National_Barin Trust . i35 300 1 g T = 8o wx@ = 55,!33&5:: &