Evening Star Newspaper, July 29, 1922, Page 10

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10 PENDULUM OF WEEK'S TRADE IS SWAYED BY STRIKE REPORTS All Factors in Nation's Industries and Stock Markets Are Subordinated to Varying Moves of Situation. BY STUART P. WEST. Specinl Dispateh to The Star. NEW YORK, July 29.—Public re- actions to leading events of the cur- rent week showed pretty clearly that most other factors having to do with business were subordinated to devel- opments in the great strikes. The ,ck market outlined the situation through marked declines of prices at mid- ¢k. when doubt about corpor- ate earnings arose by reason of emer- gency measures for distributing wan- ing supplies of coal. and in later sharp overies when hopes arose of an ¢ lubor 1§ Business men began to count the costs of short fuel production and disarranged rail- roud servie The ill-effects of seventeen weeks' cessation of anthracite mining and an equal period of reduced bituminous output probably were exaggerated to some degree. The situation should be examined with reference to general industry as effects are seen up to the present date. To accomplish this, re- urse should be had to railroad earn- to steel mill ompany earn- se lines show, at v has taken place s of strikes. allroad earnings statements with a broad bearing on and finance, the New York Cent = report may be taken as rep- resentative. The road transports all of merchandise, includinz coal. reports always disclose good and The New YVork Cen- The natural deduction is that until the end of June at least, there was enough coal to keep both railroads and Industrial plants running in sat- isfactory fashion. ‘It may be manufacturers drew on accumulated fuel stocks, but information reaching Wall street was that such was not generally the case. All through June steel plants in the Ohio valley had trouble in getting sufficient coal, but it was not until this week that trade surveys began to disclose fears lest reserve stocks would have to be used by mills in other regions and it was not evident that such a condtion had vet arrived, In respect to car loadings, the rec- ord comes nearer down to date. The week of July 15, when both the coal and rail strikes were in force, saw 3 cars of general merchandise loaded, a total exceeded in the his- torv of American raliroad only in the peak traffic movement of September and October, 1920. Coal was not in this record. The coal movement, of course, was less than in years when there was no strike. The United States Steel Corpora- tion’s earnings in the second quarter certainly gave no plain reflection of fuel shortage, for. the best of the three months was June with net in- come in excess of $10,006,000 or about 38 per cent more than in April Momentum Forwards Business. The proper deduction from all these comparisons |5 that the momentum of business carried forward from the first months of the year through and beyond June, despite the coal strike. While plans for the parceling of coal shipments among essential industries, as worked out by the Interstate Com- merce Commission this week, seemed to threaten slackened operations In overating income in June, the 1th of the coal strike, amount- little more than $6.000,000. < nearly $300,000 more than nding month of 1921. son would be with the lay of this vear, and this a gain of $2,166,000, or about cent. In contrast with May, the ral's gross revenue of $29,462,000 displayed an expansion of very nearly $3,000,000. rn ic. which hauls much manufactyred goods. lumber and farm products, reports an increase of 74,000 in its June gross revenue ! E in of $238,000 in as compared with May. Pacific made cally as good a showing. The Haven's deficit in e was much smaller than in 1921.| A it was only thej ich have a preponderant traffic from affected regions which suffered severely in June, in contrast with results of the month before or a vear ago, while lines which handled bituminous coal from non-union terri- had their gross and net returns swelled largely. some lines of endeavor, that possi- bility had no complete bearing upon the really fundamental currents of manufacture and trade. Reference to this week’s events would not be'complete without in- cluding the Treasury's plan for re- ducing the country’s short-dated debt. Mr. Mellon's program is entitled to receive full approval and ect. The calling in of $1,000,000,000 Victory 4% per cent notes will leave prac- tically $1.000,000,000 outstanding of the original issue of nearly $4,500,- 000,000. While the process of re- deeming the great blocks called in on December 15 will doubtless entail the issue of at least $300,000,000 new notes in exchange for the Victory's, this short-term issue will command a lower rate of interest than the old. Relaxed money rates reflected by the 3% and 3 per cent call loans in New York and a remarkable rise in reserve syatem ratio of cash to de- posit and note liabilities, has an im- portant bearing on business in the future as on the Treasury operations. (Copyright, 1922.) u 3 BONDS WERE SLOW |CURB LIST SLOW: AND IRREGULAR pecial Leased Wire to The Star, W YORK, July 29.—It was a comparatively dull two-hour session today in the bond market, with few mportant price movements. The tendency of United States govern- ment issues to sag was representative of the general market rather than any reflection of 4 change in the money situation. All the liberty 444s fell off slightly on & moderate volume of business. The French government external} loans held thefr ground well in spite of the continued weakness of French and other continental exchanges. Heavy transactions in the Dominion of Canada 5s of 1913 and 1952 were a feature, although the quotations on these bonds advanced only fraction- ally. Mexican 4s dipped below 46. Industrials Firmer. In the industrial section, the sugar, irregularity of the | PRICES STEADY By Special Leased Wire to The Star. NEW business was smaller than it has been in recent weeks. not inclined to make new commit- ments for the time being on either side of the market. probably was due to the uncertainty of strike developments before the re- sumption of business Monday. Com- mission houses were less active and the attendance on the floor was the smallest for any half-holiday this year., Aective and Firm. Standard Oil of Indiana was mod- erately active and firm, and most of the independent olls held about steady. Transactions were light in the miscellaneous group and prices securities remained active. Punta p. gre Sugar 7s rose to a new high, price and Warner Sugar first sinking | fund 7%s gained nearly a point. The } other members of this group were! firm. Consolidated Gas reacted. In tha railway division, Improve ment appeared In a number of bonds such as Seaboard Air Line consoli- | dated 6s, Pere Marquette 5s, Oregon Short Line 4s, Lehigh Vallley 68 and the Frisco incomes. L. & N. 7s did | not_respond to the remarkably good earning statement made by the com- pany for the month of June. Canadian_Provincial bonds traded in New York were active during the last week. Ontario 6s of 1923 were quoted at 100% bid, offered at 101; the 6s of 1930 were 101% bid,| offered at 102, and the 6s of 1943 were 1061 bid, offéred at 107. Manitoba 6 f 1948 were 107 bid, offered at 1 and the §s of 1925 were 100% bid. fered at 101. OPTIMISTIC OVER BUSINESS. CLEVELAND, Ohio, July 29.—Busi- ness is not discouraged, despite the coal and rall strikes, and “is anchoring to those basic principles which underlie sound business,” according to the monthly review of the fourth federal re- serve bank. Although strike conditions have become a definite menace to iron and steel production and overshadow all considerations of new business or prices in that industry, and are resulting in more uncertain conditions in the coal industry, encouragement is felt in other lines. Especially is this true In the automo- bile industry, which is in an unusually busy period, the report states. One large motor truck company reported an in- crease of 40 per cent in production over the first quarter. convertible 7s, ~_ PROPOSALS NOTICE TO CONTRACTORS. 1. Sealed proposals, addressed to Mr. J. W. Stohlman, Mayon of Town of Somerset, Mary- land, and endorsed ““Proposals for reconstruct. g streets of Somerset,” will be recelved hy Mayor and Council at Somerset until twelve o'clock noon on the st 1922, at that time and publicly opened and read. 2. All hids must be made o be obtained fr S certified cheekn Tor $500 " o o . Btarratt, treasurer of of Somerset, said checks - turged to bidder unless he fa the_contract, 4. The ranged near previous closing levels. Some profit-taking appeared in Phillip Morris in the last hour. Radio issues were firm. What little trading appeared in the motor group was confined to the Du- rant issues. In the mining department interest centered In the low-priced issues, but fluctuations were confined within narrow limits. Boston and Montana ruled around 1% most of the session. Bonds were steady and dealings were of small volume. MAKING LAMP SHADES. Two Million Tons of Sand Used in Making Glass Each Year. From the New York Times. A little less-than 2,000,000 tons of sand to the experts of the geological sur- vey. The actual manufacture of glass is carried on chiefly in the cities of the natural gas regions, and a recent ar- ticle in Gas Logic gives an interest- ing account of the process. Natural gas is ideal for heating the great pots which often hold thousands of pounds of materials requiring very high temperatures to reduce them to Molten glass. New York manufac- turers are content to manipulate the glass that comes to them.in flat sheets from these producers. Not the lea: interesting of these are the makers of bent glass lamp shades, of whom there are some half dozen in this eity. In the 'proc of making these shades the glass sheets are first cut into identical sections to fit the dome or shade being made. by hand with a glass cutter's wheel, a tiny steel wheel of the hardest temper and sharpest edge. The cut leaves of ‘glass aro taken to the fireproof brick furmace, which is about four feet square inside and is fitted with three roaring gas burn- ers. The flames from these burners curl against the oven top and are reflected down toward the center. In front of the furnace on a table are ranged a number of molds resem- bling huge metal flowers a foot and a half or more in diameter. that THE EVENING STAR, WASHINGTON, D. C, [ vev ronx BONDS mo scna] "NEW YORK STOCK EXCHANGE gRiat . Am Hide & Leather Am Hide & Lthr pf. 6% Am Ice.. % Am International au e% Am La France. 13% Am Locomotlve. . . 119% Am Radiator, 101 Am Ship & Com. 19% - Am Smelting. 1% Am Steel Fdy. % Am Sumatra 39 Am Tel & Teleg. ... 122% Chi Ml & St P 2 29, YORK, July 29.—The curb market was featureless today, and Professional oper- ators and floor traders merely evened their accounts over Sunday and were This attitude is used in the United States each year in making glass, according 146% us 1% n% 3 3% Asso Dry Goods 5 Atlanta Bir & Atl.. % Atlantic Fruit Co. . 2% Atlantic Gulf. 2% Austin Nichols. e 120% 1% Barnesdall (A). 8% Barnesdall (B) . 4% Beth Steel (B) 8% Brit Em Stl 2d pf. 0% ‘Booth Fisheries. 9 b Bkiyn Rapid Trn... 26 6% Bklyn Rap Trctfs. 2% 23 Butte Copper...... Th Th Butte & Superjor... 30% 30% Butterick.... . 18% 18% Caddo Oll..... 10% 10% California Petrol. Callahan Zinc, Canadian Pacific. Central Leather. CentRROfNJ Cerro de Pasco. Chandler Motor / Ches & Ohlo. .. Chi:Great Westrn.. 8% 8% ChiGreat Wpt.... 21% 21% . % MR ChiMA&StPpf... 6% % Cni & Northwn.... Ti% ™% ChiRI&Pacific... W% &% ChiRI&P6% pf.. 82% £2% C'StP M & Omaha 6% 68% Chile Copper - CCC & St Loul CCCasStLpt. Coca-Cola. ...+ Colo Fuel......... 30} 304 Colo & Southern... % % Columbia Gas. .... %% % Columbla Graph pf. 18% 16% Comp Tabulator Cons Cigar. . 3% Cuban-Am Sugar.. 26% 26% Cuba Cai 1% 164 Cuba Cane Spf... 3% &% Davidson Chem. Del & Hudson Del Lack & Wstn... 128 128% Eastman Kodak.. 8% B% Electric Stor Bat. % & Elk Horn Coal 20 20 Erie..... mo 1% Erielstpf.... %% B Famous Players... 82 2 Famous Players pf. 9% " Fed Mines & Spf. 6 &0 Fisher Bof Opf... 81% 8% ibber 13 B u% B % 7% Int] Mer Marine... 18% 184 Intl Mer Marine pf. 72% T72% 17% 83% 1 % Island Ofl. .. % % JonesTes......... 46, <41 Kansas&GulfCo.. (% % Kayser (Jullus).. 4 & Kelly-Spring Tire.. 47 “ Kennecott. Keyttone Tire..... 104 10% Lackawanna Steel. 1% 7% Liggett & Myers Lima Locomotive. . 109 This is done | Muilins Body... One of Montgomery Ward. Natl Enameling. Natl Lead. Natl Ryof-M2d... N Y Central. N Y Dock NYNH. the segments of glass is fitted into Ne each of the petais of these grotesque blossoms, the size, shape, cui ure and number of petal: | particular lamp. k the & plate of glass has been _, OFFICIAL NOTICES. COMMISSIONERS OF THE_DISTRICT Columbia, July 15, 1022.—Notice is he given that In accordance with the L3 e e e By act for the fiscal year ended or reb; fitted into each of the molds the swinging iron curtain, which servi udlmdgor to the tnrnkl:e, “hnTK and the fyrnace man pic the with a ~harndles . % volve, 80 thet evi e lltl:“ntnnlld. in the S on each mold ve | corresponding to the pattern of a d_prong and sets | Pere it on a small circular platform in| /| the ov-n‘{oar en the door is droppéd the Wan begins to re- is <o the same heats Afeer !thr'w four ‘minutes in a tempera- 600 de the ‘Received by Private Wire Direct to The Star Office 5 §3535zg90083 224SE bl g TransContl Oll.... W% M% % Union Bag & Papr 60 60 Union Oil Unlon Pacific. Unlon Pacific pf... T6% United Retall 8trs. - 62)% @% 6% USCastIrPipe... 86 BH UK . o% Western Elec pfd. 100% 109% 109% Western Md. . Weatern Md 2d. Western Pac pf Worthington Pmp. 52 82 51% Wright Aero...... 8% 8% 8% < sgagysgesgeyns sslcunga feals guasgagergy - / §89280.9sga0,020F o s3RozEs.Es i urgES gs3gangs yayagnsasr St Joseph Lead. 15 15 15 St L & San Fran 29% 20% 294 StL&SanFrpf.. 80% 6% 50% Bt Louls Southwn.. 80% 0% 0% . ATh % % % THh. T 0% 0% 80 0% u% 1% u% - K 3N % | % 9% 9% % N% 2% 2BY% 2% Ry p! 53 88 88 Spicer MfgCo.... 18 18 18 Stand Ofl of Calif.. 14% 108% 106% 180% 180% 180% 6 B4 6 6 48 a% % a% 1% 181% 18% 129% % % % e 6 & Term Copper...... 104 104 104 Texas Company... ‘4% 4% % Texas Gulf Sulphur 48 48% 48 Texas& PC&OIl.. 26% 2% 2% Third Ayenue. 2y 2% A% Tobacco Prod 8l % Bk Tobacco Prod....., 8% 65 B% Tobacco Prod rts. 2% 2% agagiys jysguuess o9 Vanadium Corp... 49 a% © Vi Car Chemical. 26% 27 28% Va-Car Chem pf.. 58% 60 B8% h. . . h pf (A) . 32% 83 2% % Western Union. ... 106% 106% 106% 108% % Wickwire Spencer.. 16 16% 16 Willys-Overland... 8% 8% 8% Willys-Overland pf. 4% w4 % Woolworth. .......174% 14% 1Ti% HOURLY SALES OF STOCKS. lam.... 12380 12m!..... 219 50 —_——— DIVIDENDS. Btock of Pay. $2..Aug. 10 S5l 2 3 €. F. & 1. Co. pt. Hous. 0. C Phila.” Trae. ¢ hell” Un. 0. $1.50 Tampa West P. R. R. pf., WEEK’S STOCK DEALINGS MAINLY PROFESSIONAL NEW YORK, Juiy 29.—The coal and railroad strikes continued to influence operations In the stock market this week, professional interests contrib- uting a large percentage of the total dealinga. Prices were Inclined to case in the first half of .that period, but a better tone ruled later when it appeared that a settlement of the country-wide labor difficulties was in ght. Further curtailment of production in several of the important industries Tesulted from the increasing shortage of coal, but the better state of the steel trade was shown In the quarter- ly reports of the United States and Bethleham Steel Corporations. Railroad earnings for June were generally favorable, there being few excoptions to reduced operating ex- penses and increased net returns. Carloading figures for the second week of the strike showed that the raliroads were effectually meeting the strike emergency. Reliable data dealing with the general busine situation again em- phasized a hesitant-tone on the part of buyers in leading lines of me chandise, but this was ascribed large- 1y to backward seasonal conditions. Abundance of money In the local | market caused further easing of rates for time funds. Most of the short maturities were placed at 3% per but loans extending Into next year ranged from 4 to 4% per cent, with a 4 per cent rate for high-grade merchantile paper. Forelgn exchanges were hardly a market factor, although the question of German reparations caused fresh demoralization in marks, that cur- rency falling to a new low record. COTTON PRICES STEADY AFTER EARLY-WEEK DROP NEW YORK, July 29.—After selling at new low records for the movement early In the.week, the cotton -market became steadler and advanced about $2.50 a bale from the lowest levels. Interest was naturally cehtered In crop developments, which, according to private advices, have heen very much mixed. Up to midweek, these reports generally gave the impres- sion that the crop was making sat- isfactory progress in both the western and eastern belts. There were high temperatures in the southwest and contnlued rain in the east, but con- ditions were not especially unfavor- able and prices yielded easily to sell ing pressure, as there was little out- side support in evidénce and the rail- road strike was a very unfavorable feature. Late in the week, however, the en- tire situation was changed. Crop and weather news became decidedly buillish, there .was .a more .cheerful tone to the strike news, and support- ing orders came into the market from many quarters that had hitherto been bearish. It was judged, from <he character of southwe: news, that the crop has deteriorated, at least. in the last few day: because of hot winds. Weevil damage has not been 50 great in the southwest as else- where, but in the eastern belt the crop was reported fo have suffered more or iess from this-pest,- which is present In large numbers. .Private crop reports received dur- ing the week showed Iimprovement over the previous month with one ex- ception, and pointed toward a of 73. ‘estimates in these private reports were from 11,440,000 bales to 12,229,000 bales. “Textfle mar- kets were wee firm, awaiting the btreau report. Of. ferings of new crop cotton from the southwest have met a poor demand, partly due to the fact that Eurdpe has large stocks of eonl%od cotton ulet during the week, but which are supplying in comparat! low k closes, sentiment e appeared to be a trifie more bullish np:l: at any previous time in the n past ten days, but inclined to be cautious until after the government report. B b n thi fiscal year. oh wi L3 . |- e 21, and Canada's best % | Vietory 4%s 1023¢ FOREIGN GOVERNMENT, STATE Liberty 8%s, 103247 Liberty 2ud 4s 192742... 100 62 20% | Liberty 1ot 4%(s 198247, 10160 Liberty 24 4% 192742... 10074 Liberty 84 41 1928...... 10065 Liberty 4th 43s 193338, 10154 Vietory 4%s (called). ... 100 60 100 90 AND MUNICIPAL. Chile 8r 1941. Copenhagen 6 Czechoslovakia 8s. Dutch E1sf 65’62 French Govt 8s. French Govt T%s. Japanese 45 Japanese 1st | %: Rio de Janeiro 8s rcts. Rio Grande do Sul 8s | 820 Paulo, State of, 88 Seine, Dept of, s Swiss Confed s f Utd Kingdom 5%s "2: Utd Kingdom 5382 l Zurich 8s. Utd Kingdom 5%s '37. MISCELLANEOUS. Ajax Rubber Am Agri Chem 7% Am Smelting 1st Am Sugar Ref 6s... Anton Jurgens cv s Armour & Co 4% Adlantic Fruit 7s. Atlantic Refining 6%8. Barnsdallsf8sA. Bell Tel Pa. . Bethlehem Steel s f 65 Du 1ont de Nem 7%s. Duquesne Light 6s. . . Empire Gas & Fuel 7% Fisk Rubber Framerican 1D 7%s. Goodrich, BF, 6%s w 1. Goodyear Tire 8s '31 Goodyear Tire 8541 Holland American s 6s, Humble O & R5%s wi. Indiana Steel 1st 88 ‘52. Inter Mer Marine 88 Kayser (Julius) s Lackawanna Steel 55 '50. Liggett & Myers 7s. Liggett & Myers 5: Manati Sugar s £ 75! Mexican Petroleum $5. .. Midvale Steel 58 New England Te NYGELH&PGs New York :e‘l ‘c:‘ 94 New York Tel North Amer Edison 3. Northwest Bell Tel s Packard Motor 88 Pacific Tel & Tel 5 Pac Tel & Tel 58 ctf: WHERE THE WEEDS WIK. Farming in Tropical Panama a Con- tinuous Fight With the Jungle. From the National Geographic Mi A Florida ~orange grower turn gray if he had confronting him the problems which face any one who attempts to grow fruit in Panama. The grass problem alone is enough agger the heart of the bravest oanter “Think of your own vegetable garden in midsummer, when the days Sre steaming hot and the weeds are | Goody: growing about as fast as you.can pul them out; project these conditions i For there s never an ter to check them, and you W the endless vista of weeding which confronts the tropical planter. definitely, Grass is cer ho (magines tractor worl :l any of the ordinary t northern agriculture in u on troj cal farms should never lose sight he gra There is really nothing so hopele: t looking to a northern frult tle orchard in a clearing in g le. The great forest i the little clear- it is one continual chete to Reep it from ropical juni 'il-tn- on ukfnl back ing to itself, and fight with & doing so. ‘When I was shown what I launch “ked“rf:: ith great trees covered wi 2::;"‘1!" Hln.;A and was told that it rown up in eight years from nd whc'n I 'rocgllcc:td ‘and ingect pests haunt a B tne" 1 coula be}m‘? comprehend aft from the deck of a had all cleared land, and clearl; 14 ng that IoSividual of small means, there r 198 no other way to farm cut down and burn, plant and crop or two; then, whei and - weeds of drive _you out, way o 2 t, ""f in, rush ou lgt"t’ie land grow up to, mobite and knockl H. Shreve of 1347 wholesale corn ., merchan ront of 913 B street last night. The _jmachine ran over Shreve's fc { - He wag treated by Dr. Willlam P. Burns, at’his o and later was| ‘- lon o ‘Garfield Hospital. ] ¢ HAS RIGHT TO PRA P s e . the N. Y. Curb Market (Quotations furnished by the Associated Press) INDUSTRIALS. AS TOTHE 60 BID, REIS 1T NOW? Bankers and Brokers Quandary Why Proposed Proffer Is Missing. BY L A. FLEMING. The “Will you consider an offer of $60 a share for the 27,500 shares of Railway common your committee as collateral the Washington Utllities defaulted notes?’ seems to be in a somnolent Received by Private Wire Direct to The Star Office, UNITED STATES WAR BONDS. High. w098 100 92 RAILROADS. = SERa B 100 Davies, Wm, A 200 Dub Cond & Radi 1200 Durant Motors . WFFFFITRR R R R B Chicago & Alton 3%s.. CB&Quzurs.A* 1 Qamailen eat Weste: . CM& St ref isen CM&StPds CM&StPev4y CRI&Prefis Chi Unlon Station 414s. Chi Union Station 635, Cleveland Term 5%s w Colo Southern ref 4%s. Cuba R R 1st 55. stock held ..E:..z.‘:.: 5 Mitchell Motor 1000 Mercer Mot v t ¢ 500 Moun Motor 20 New Jerses Zi Y Tr 4700 Philip Mo S answer was “We will consider any posi- tive offer recelved by this commit- Bualifize g T {would be but a matter of a few days before the offer was on tap, and the committee arguing whether not to accept it. A few days passed and sentiment among members of the committee seemed to be changing. First impressions favored a turn ing down of the offer, should it be made, as expected Comment was made anent the spec ulative character of any such refusal after being guaranteed if the bankers’ committee decided to 11l Central ref 1l Central 53 Interborough-Met 4 %s. . Inter-Met 414 s ctfs. Inter Rapid Transit 68 Inter Rap Tr6s w i inter Rap Trev Iswi Int & Gt Nor adj 6s wi. Towa Central ref 4s. Towa Central 1st 55 Kansas City Sou 51 Lake Shore 45 1928. 100 Aetna Con Ol 1300 Alcan Oil 1000 Allied 01} pending the Supreme ruling in the Potomac Electric cas: Thix aspect seemed to agree with the revised views,of the committee and gencral commbng in banking circles that the offer, Numerous holders of utilitles notes that have been deposited with the com- anxious to get their urged the acceptance of such an offes as suggested, but which has not ap- The mystery of it all is what has be- MK&T adj 58 come of the proposed offer and the ne- Montreal Tram Mo Pacific gen 4 A meeting was held once after the Mo Pacific 6s offer had been queried, but nothing came chairman of the note- holders’ committee, has received no in formation whatever regarding the mai- ter after the first and only conference with local people. Some\ blunt_people on the street are even hinting that the whole scheme concocted for the purpose of strengthei- ing the bull movement in Railway com which has been ninety days or longer. Holders of contrary views do not be lieve that failure to go through wit the negotiations would have any un- favorable effect on the stock. They think that with the di prospects, to & certain extent dey ing on the ruling of in the Fotomac Electric casc the common shares of the Washin ton Raflway Company are worth close to their present price or even highe if the court decision is favorable During the vear to date Railwa: common has been marked up, at time« N Y Central deb 6s. N Y Central ref Imp 5s. N Y Central ref bs wi. . o - | 4000 Southern Pet & Re! | 1000 South State ¢ N Y West & Bos 44s. Norfolk & West con 48 Northern Pacific 3: North Pac ref in 6s. Ore Short L ref 43 Paris-Lyons-Med 63. Hennsylvania gen 413s. Pennsylvania gen 5s Pennsylvania 63s. ... Pennsylvaia gold 7s. Pere Marg 1st 5s. SLL&SFprin4s StL&SFprin StL&SF inc6s. . {StL&SF5%sB. StL&S Fadj 6s. StLSW lst 4s. Seaboard A L adj is. o0 Diox & Mont 14 { 14000 Forn 4000 Fort o b 57% from 35%. the low of the year the preferred has 63% to 80 and The position as to price represents the greatly the company. <h¢ ability to p 100 Tecla Miging . 100 Jerome Verde 100 Kerr Lake shares and the belief that the com- ¥ mon_stock will soon come In for a Personal Mention. W. J. Flather, vice president of the Riggs National Bank, left last even- ing for Portland, Me. E.J. Stellwagen {and Frank Henry are Mr. Flather has been poorly of late, but has stuck to his desk and will welcome his long month's vaca- tion. He will return with September IBAVARIA PASSES SECESSION SCARE Union Pacific 1st Union Pacific cv awalting his 2000 Tetersen Lake . ‘Wheel & L E ref 4 g Wisconsin Cent gen 4s. TOTAL SALES (Par Value): TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 1 Allied Packer 6s. 4345 September 15, 1922 September 13, 1922 1 Anglo-Amer Ofl 7 3 Armour & C 222 § Gonarieh ire BY GEORGE WITTE. —_——— e oo, By Cable to The Star and Chic 4Reportes by Bedmond & Co.) 20 Inter R T 8o 1 ments indicate that Bavaria's demand for independence will not be pushed involving secession. of northern who were received Alumisum Co. of Amer. 7s 1025, American Tel. & Tel. 8s 19 American Tel. & Tel. Gs 1 to a point delegation of mayors Bavarian cities, Anglo-American, A & rmour . Atlantic Kef. 6lus 1851, Betuleben Steel 73 1 7 Sears Roebuck 3 Shawsheen 78 30 South Bell Te 5 St Oil of N left him convinced that the govern- ment does not contemplate a disrup- The federal has deferred action with regard independent pending thé result of personal repr sentations by President Ebert to Pre- enfeld suggesting an am {jcable settlement on the basiz of a repeal of the offensive Bavarian laws, provided adequate government 5 Western Electric 7s 1004 100 1004 T ) 108 1068% 1084 arrangement sentation in the new federal tribunal for the protection of the republic. Premier Lerchenfeld ceived Frank A. Vanderlip, former president of the National Ci of New York, and discussed with him the conflict between h south—the federal and states’ right— in the United States back in the 0s POST OFFICE TO CHECK C. 0. D. MAIL VIOLATORS cNeil & Libby b ‘:‘ & 8. 8. M. tainly the curse of agri- 2 | From the New York Heraia. ics, and he e imagines ‘tracior work of the use {been gathered as a result of exhaus- tive studies of plants from a new 1024 point of view. Taking those speci 103% | that are of economic importance—that is, the vegetables, cereals, etc., { value to the human race—the inves- tigator has assembled them in his ag- ricultural laboratory and determined with definite accuracy their efficlency. These statistics show that the most efficient of all economic. Jerusalem artichoke. This valued v the north and Western Elect ‘Westinghouse E. & M. sCalled Sept. 1, 1922, at 100%. FORKIGN EXCHANGE. Belling checke—dpllar values at close today: (Quotations furnished by W. B. Hibbs & Co.) | table produces on an acre of {about 7,127 m;’\md- of starch T(nd ot i tible substances. SEesoil incidentally $26 worth of m..l terial. But the difference between consumption and production in terms is $116. °'o';.':,‘“:u...§ imagine that the potato would be away up, but the beet com: i next, with an output of 6384 pounds of digestible substances to the acre, taking $41 worth of material out of lthe sofl, and yielding & balance of Third is corn, which produc 4,652 pounds of digestible subs consuming $17 worth of material giving a balance on the credit side of $108 for the acre. = the most efficlent eco- mic plants, the best workers for Tean,_ The p":um is fourth, taking $4 worth of material out of the soll for each acre are nearly all starch), and shows a bal- (lnca of $72. Ricé gives 2,254 pounds, taking $6 worth from the land, and allows a balance of $45. ~e 1,864 pounds, drawing on the bank io the extent of $2 and the farmer a 0 Carrots z:gd 4, w an expenditure S nd & margin of affords an output of 1,824 nds of nutriments at a cost of $10 her | Notices Sent Requesting m Names of Firms or Persons Ad- vertising “Inspection. The Post Office dD:Klr(m.nll‘ 5 today to en e practice o frens " inaividuals advertising their merchandise may be sent -i','—“mn. collect on delivery, with the inspection before By the Assoclated Press. NEW YORK, July 29.—Foreign e: Great Britain—] privilege of e. Assistant Postmaster General issued instructions to masters to report at once the names of any firms or individuals using ad- giving this guarantee They were also l.l.‘n;ltrucled to refusc cept for malling any ontaining 1abels -uhuu» th ¢ recipients may open the package be- (orenlollll;ll‘h(‘:. 0."11 c‘:llr;!l ‘et hough this ruling has been ef- A ver since the establishment of e P the returning ‘fe the native everywhere: Trance—Den W ot AN Ttaly—Demand, .0457; cables Belglum—Demand, .0772% Germany—Demand, 0015%. Holland—De. Cables, -3865. ‘Sweden, demand, .2610 Denmark, demand. .2150; Switzerland 155! 10; Peland, de- d, ~ .0001%; Csechoslovakia, de- mand, .0227; Argentine, demand, .3665 raxii, demand, .1370; Montreal, 'RUN DOWN BY OWN AUTO. Cranking & machine while in gear tresu in the starting of th % down of John ‘Quinay street, m ber of the firm of W. O. Shreve and Demand. 171 It ylelds 4,440 | fect ever sinc . D. postal service, plaints have be:‘n lnnfluv:xherlble o the practice and the greate: ity has been experienced by carlerrs in convincing patrons upon delivery packages that they are not ontld?d to open them. aster general to stop the publi- cation of . advertisements that mer- chandise may be examined is the first step In a campaign to straighten out a situation that has been a source of trouble to the postal service for —_— BERLIN BANK STATEMENT. BER] 29.—The statement of the Imperial Bank of Germany - u:hov:l tlacb !filllowln. E eoin and bullion Srewsod 1,004,000 marksy gold ‘Treasury and lo.n“u-ocl pounds and 17 worth of third assistant of July 22 changed. ruled to-| ion notes ks; notes of other banks increased 00 marks. = Bills of exchang ue increased 1,011,022,0 d tressury bil Passing thé Plate. From the New York Sun. Mean—F have praise for the new m Deacon—So ——— WOMAN FINDS BODY. Berry Picker Discovers Remains of Lacy Walker at Staunton. nothing bl;l inister. creased 9,931, 1 noticed when the plate | vantes. Investments in assets 'BAR SILVER QUOTATIONS. . Va., July 2. SIL Q A’ INS. a_,v.‘ ST, bar | huckleberry e et L

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