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FINANCIA ORDERS FOR WOOLEN GOODS MARKED BUSINESS FEATURE Spur in Recent Opening of 1923 Lines. Decided Increase in Trade, New York Reposvts. r BY JAMES ALLERTON. the basis on which northwest mer- b Syyeion chants are increasing their orders for NEW YORK, August 1. he vol- | fall and winter goods. The prospect for ume of orders booked for woolen |2 settlement of the rail and coal strikes has had some influence, but merchants say they are buying because an excel- lent crop is assured and the purchasing power of the farmer is returning. Danger of injury from black rust to the spring wheat crop has now passed and yields of other agricultural prod- ucts in the main will be excellent. The annual movement of harvest laborers is now in full swing. Railroads are mak- ing special rates of $5 to any north- western point and good wages are be- ing paid. The labor supply is far short of demand in every northwestern state. Freight embargoes placed temporarily on shipments because of the rail strike been lifted and traffic is heavy. June shipments to and from St. Paul were 32 per cent greater than in June, 1921. Building material shipments show- od gains of 100 to 200 per cent. £oods as a result of the recent op- ening of 1923 lines by the American ‘Woolen Company and other manu- facturers has been a marked feature of the business situation here this week. The leading interest is well hooked up on its woolen lines already and a good v me of business was indicated in worsteds when that line was shown today. The prices named seemed effective in stimulating pur- chases among the garment trade. al- though woolens undoubtedly appear to make & more popular appeal. Chain store systems. department stores and groceries all report im- provement in volume of business this week. This advancing tendency d.ms: not seem to hav been retarded by Sa The strike situation. e cur | Iron and Steel Awaiting sales are expec to respond to the | o veual | August adertising. althoush Settlement of Strikes the trend of the fur market has been i - \r*\- dull for & month past BY H B. LAUFMAN. he leather market here is a to The Star. market h shoe manufactu 1, Auj o o gust 1—Prospects and tru makers and , and strap producers buying in bet settlement of the mine and quantities and prices extreme firm. have given rise to hopes The popular priced merc! e in | jere that industrial production in this the re! stores selling from 1 cent | district can be maintained. But unless to $1 is selling freely and the 3 and|(he strikes are settled in the immediate 10 cent store sales are mountifiy future iron and steel production prob- ably will drop at least 15 to 25 per cnt in addition to the decline already in July. In the immediate Pitts- Billion Dollar Crop Yield i | ) district operating schedules have Is Estimate for Northwest | b il rtitally Switnout re- ST i | duction. There was a free flow of coal BE EARE D. JENCKE | Fom Kentucky and West Virginia until Special Dispa the shopmen's strike, but at present ST. PAL ion-dol- | deep inroads are being made on reserve lar crop vield the northwest is esti- | stock fuel les. mated by agricultural experts Steel buying usually falls off in July This is the dominant influcnce and Av ind that precedent is Hold- vear, furthered by the un- and gou 2 NN, N O RO © SN O A € NN 0 BHN 0 4 © . O TN @ NN © By 6 S § S © HuN @ BN Inexpensive Protection Deeds, Wills, valuable Securities, are only records on paper—and they can be destroyed by fire or stolen if kept at home. Papers such as these should have the absolute protection which a modern bank vault affords. busin, represe Private Safe Deposit Boxes in our loss- proof vaults rent for as low as $3.00 a year. 26 Paid on Checking and 3% on Savings Accounts ’.‘.- /O S ¢ B © I W @ B S © K @ o O B Edward J. Cor| 15 andnfil.’St;, Steliwagen Northwest President o - b B B M G T ¢ . For Economical Model FB Cougpe.. . .. Model FB Sedan..... certainties which the strikes have in- jected into the situation. On July 1 the mills had about three months' busi- ness on their books and with production curtailed, bookings would ad over & long period. Industries usl steel ag raw terial have been little affected in this vicinity. Ope clay plant in the Steubenville district has resumed after a shut-down caused by a strike, the men recelving a 5 per cent increase. Bix other similar Dlfixu are expected to resume immedi- ately. Reports on Commodities From Business Centers Grain. LONDON, August 1 (Special).—Re- liable estimates of the 1922 harvest In Russia place the grain yield 32,000,000 tons, an increase of 12,- 000,000 tons over 1921. Shoes. FORT WORTH, August 1 (Special). —Eastern and northern shoe manu- facturers who formerly were accus- tomed to recall their salesmen from | Texas during June and July kept them continuously at work this sum- mer and a decidedly satisfactory number of orders has resulted. Lumbe: NEW YORK, August 1 (Special).— One of the largest shipments of lum- ber in the history of the coastwise trade will be completed this ‘week with the arrival of 1,000,000 feet of Louisiana pine by the steamer Castle lLOd‘Q» This will complete an order of 4,000,000 feet for the Coney Isiand | board walk, and it is expected that 1,000,000 additional feet will be or- dered from Florida. \ Clothing. ST. LOUIS, August 1 (Special).— Clothing manufacture in this section { has manifested a decided gain in the last ten days and again is on a steady basis. Leather. BOSTON, August 1 (Special).—Rep- resentative tanners expect a gradu- ally rising market for leather uutil this commodity can be produced at a fair profit. The market is slowly |Erowing stronger and . sales are steadily increasing, but prices have not yet reached the point where the tanners are out of the red ink. Cotton. PROVIDENCE, R I, August 1 (Special).—The Royal Mills of the B. C. and R. Knight Company at River- point, R. I, the largest single unit in the Pawtucket valley affected by the long-continued textile strike, has re- sumed operations. Nearly all of the Rhode Island mills reported gains in the number of employes at work this week. Hosiery. PHILADELPHIA, August 1 (Spe- cial).—The hosiery market is quiet | compared with former months in this year, but a fair volume of business is expected for next fall and winter. Machinery. SPRINGFIELD, Mass, August 1 (Special).—The Hendee Manufacturing Company, makers of the Indian motor cycle, j& now figuring on an order for IWB\S:IIIIIillIIIIIII;?AEIIIIIIIIHIHHl:A\SI IR 1,200 machines to be shipped to Aus- tralia. This is the largest foreign in- quiry received in a long time, and fol- lows an extensive advertising cam- paign carried on in foreign markets. Grapes. SAN FRANCISCO, Auguet 1 (Spe- clal).—The early grapes are beginning to reach the market, but not in quan- tities,as yet. The market is stagnant. MADRID, August 1 (Special).—The Spanish grape crop is expected to be exceptionally heavy as 2 resuit of the dry weather. 2 Paper. BOSTON, . August 1 (Special).— Newsprint millg throughout New Eng- land have orders on hand for capacity production for the next six weeks) A number of mills which have been shut down for many months have reopened. There are no signs of a let-up in de- vanced from $3 to+$5 a ton, although contract prices remain unchanged. Glans. PITTSBURGH, August 1 (Special). —July was the best month in the history of the window glass industry. There are no signs of a letup in de- mand, and certain sizes are becom- ing scarce. Coal. BOSTON, August 1 (Special).—The New England Coal and Coke Company has made two advances of $1 a ton in coke during the last week, bring- ing the price up to $16.60 a ton. Con- tract coke was avallable for delivery to New England points on April 1, at $12.25. The company has been buy- ing British coal to replace its dimin- ished stock. FORT WORTH, Tex. August 1— Wood for use as & substitute for coal in the heating of homes this winter is extremely scarce, and only a small amount of rellel can be expected from this source. Stee! YOUNGSTOWN, Ohfo, August 1 (Special).—Only 'six of the eleven open-hearth furnaces of the Brier Hill Steel Company that closed Fri- day evening resumed today. The furnaces in operation have had gas burners installed. The Youngstown Sheet and Tube Company banked one of its four blast furnaces Sunday. The Republic Iron and Steel Company has closed a pipe furnace and a plate mill. Fuel shortage caused the cur- tailment. | PITTSBURGH, August 1—Very few merchant furnaces are now in blast. Demand for plg iron is limited. .at- est sales were at $27 for malleable, $25 for Bessemer, $24 for basic and $25 for foundry, f. o. b, valley. Business Topics. BOSTON, August 1 (Special).— Manufacturing activity in New Eng- land is_stowly but steadily increas- ing. This trend has been more noticeable since the maority of the cotton mills have been reopened. The Ietal trades are showing steady im- provement, and this gain seems to have been made on a sound basis us the new orders are improving in vol- ume. The paper industry is moving toward decidedly higher production of all kinds of paper, and the gen- eral trend of employment in New England continues upward. S RITTEZAS AN EZIST FIRST MORTGAGES— Promises of an unusual return A SAFE INVESTMENT often blind the inexperienced investor to the fact that he is risking his capital in the attempt to make a greater yield. Investors in qur FIRST MORTGAGLS —know that their capital is safe and that the in- L] terest will be paid promptly when due. For safety and yield you can do no better than investing in our First Mortgages. B. F. SAUL CO. MAIN 2100 R A KA T ransportation Chevrolet Motor Company Announces New Prices Effective August 1, 1922 Passenger Models Model Superior Roadster. ...........$510 Model Superior Touring. ............$525 Model Superior Utility Coupe. ... ... 3680 ‘Model Superior Four-passenger Coupe . $840 Model Superior Sedan. ..............$860 Model FB Roadster.................$865 Model FB Touring. ......c...........$885 Commercial Models Model Superior Chassis .~ . .........,.$425 Model Superior Light Delivery . . Model G Truck Chassis..............$650 Model T Truck Chassis.... All Prices F. O. B. Flint, Michigan All Models Fully Equipped ....5510 RS2 1412 EYE N R BT | BONDS OFUTILITIES G00D REQUEST Stocks Held Firmly—A Rem- iniscence of 1914—Redis- "counts Are Very Light. BY L A. FLEMING. On today's' session of the local stock exchange $28,000.face value of bonds changed hands. It is prob- able that a large part of these pur- chases were made in the Interest of banks employing their money to the best advantage possible. “There were no evidendes of weak- ness, all bond prices being well up to the highs of recent transactions. Railway 4s brought 75, Traction 6s, 97% to 97%: Potomac consolidated s, 95%; general 65, 99%, and the same price for debenture 6s of the same company. Railway common sold sparingly at | 58. Lanston easler at 79%, with) District National Bank 168. Capital Traction shares brought 100% to 100%. A Reminiscence. Just eight years ago, July 30, the New York Stock Exchange closed its ! doors, signalizing the demoralization attendIng the outbreak of the world * exchange did not open for business again until December, of the same year, 1914, Atchison was selling at 8913 when; the exchange closed yesterday it closed at 101%: Atlantic Coast Line, | 114, and yesterday 111%; in the same comparisons, Baltimore & Ohio was 72 and is now 581, ; Canadian Pacific, 156%, 141; St. Paul, 85 and 46%: New York Central, 77 and 98: Northern Pa- . cific, 97 arnd %$%: Southern Railway. . 25l%; Union Pacific,c 112 and 1431 ; Reading, 137, 76; Chicago & Northwestern, 126. 783; Norfolk 4 Western, 97ig, 1143: while Southern Pacific at 84% compared with 92. Many of the rails have scored fair gains in the last few days, while the 1914 prices marked the closing of the Exchange that fateful July 0. In the industrial list Steel common | was 106%; yesterday, 1013%; Ameri-| can Can, 19%, 60%; American Loco- | motive, 203 Baldwin, 41, 121: Bethlchem Steel, old stock, 30; B stock, 71%; Corn Products, 7, 107%; Anaconda. 53%: Mexican Pete, 53, 14; International Paper, 63, b4; 166 Peoples’ Gas, 413, 87%; Studebaker, 4. 132%, and United States Steel | preferred, 106's, as compared with 0, last night's closing. Federal Reserve Rediscounts. The Federal Reserve Bank of Netw York city reports a shrinkage in redis- counts of $118.000,000 in four weeks and for New York banks alone, a shrink- age of $79,000,000 I { This is in line with action among the other eleven reserve institu- tions. The commercial horrower, and he is the only one whose obligations are wel- {come at -the regionai banks for redis- count, is not as much of an entity as he was a few months ago. ome authorities express the belief tha there will be a demand for credit {this fall that wiil require large use of the assets of the reserve banks. Others express the belief that when the crop calls for credit regional movement is_ov | will still be restr ' | Low usage of reserve assets might | be € pected to lead tc lower rates ! ot afscount but this action could not be expected to stimul { this time. when th owded with cash anl are buy bonds to keep their funds empi {as fully as possible, also Treasury se- | curities. i Personal Mention. Charles C. Glover, chairman of the board of directors of the R National Bank, is spending a few day the City W. Lyddane. cashier the Federal National Bank is back from a three-week vacation Pertinent Comment. The leading to s of interest in { the past month have been the crops| and the strikes. The crops have The farmers have | been doing their part to supply com- { munity wants without sulking or} | striking. although not much consid- | eration for their needs is shown in| | some quarters. The outlook is for|{ | one of the best all-round crops. The { | coal strike has caused the banking { of a number of furnaces, but has not { affected either industry or trade gen- come along finely 5 car- » the week ended Ju {loadings were $60.907, wh com- i pares with 774.884 in the correspond- i week of 1921, 842,851 in 1920 and 296 in 1919, The loading of all { commodities except coal, exceeded {those in any other week on record { except the weeks of September and | October, 192 | “A scarci i of common labor is complained of. particularly in the nd steel industry. The auto- mobile and tire industries have made ! new production records, but compe- tition is sharp and tire prices have ! been slashed. In the oil indust under heavy provuction. large stocks of crude have accumulated and two | price cuts of cents per barrel each { have been made. Gasoline prices also i have been reduced, but the con- sumption of gasoline is at a record- breaking rate. ““House-building is at the height of “activity. The strike of cotton- mill operatives in New England, which has lasted about six months, {1s losing out, an increasing number of mills having put into effect the! wage reduction of 20 per cent with {an increase of weekly hours from 148 to National City Bank. RAW SUGAR QUIET. i NEW YORK. August 1.—The early iraw sugar market was quiet. There | were no sales reported, with Cubas| loffered at 3% cents cost and freight, equal to 5.36 for centrifugal. There was further selling pressure in raw sugar futures at the opening, and prices at one time showed de- clines of 3 to 8 points. At this level there was renewed buying for out- side account, and prices rallied dnd {at midday were within two to three points of last night's closing quota- tion. The market for refined was quiet and prices were unchanged from 6.90 to 7.00 for fine granulated. It was re- ported that second-hand sugars were avallable below these quotations. Refined futures nominal. ——— e BAR SILVER QUOTATIONS. NEW YORK, August 1—Foreign bar silver, 69% : Mexican dollars, 53%. LONDON, August 1.—Bar silver, 3514 pence per ounce; money, 115 per cent. Discount rates—Short “bills, | 1 13-16 per cent; three months' bills, 1% per cent. { P ] iron OTTICE The Edmonds Building 911 15th St. N.W. Washingto Newos Ofses Budlding Harry Wardman 1430 K ST. N.W. TUESDAY, AUGUST <L Grain, Produce LOCAL WHOLESALE PRICES. Eggs—Btrictly fresh, selected, c&n- dled, per dosen, 24225; average rece!pts, 22; southern, 22. 5 Live poultry—Roosters, per Ib., 15; turkeys, per 1b. 25; spring chick- ens, per Ib., 56a28; keats, youns, each, 66; fowls, 23a24. try—Fresh killed spring Dressed poul chickens, per Ib., 27a30; hens, per ib.,|3.50. Carrots, hundred, 2.00a3 roosters, per 1b., 10; turkeys, Peh\| ery doz., 50a1.00. 26; ib., 85240; keats, young, each 60 Live stock—Calves, choice, per Ib 9; medium, per Ib., 8%; thin, per Ib 6a7. Lambs, choice, per Ib., Sali; live xl::n. 3.00a8.00 each; live hogs, per 1b., Green fruits—Apples, néw per bbl, 350a5.00; per bu. basket, “;:,‘.'b",;nm orni; nges, % 8.00a10.50; temons, per_ box, 4.5026.00. Raspberries, 2040, Peaches, per Crate: 1.0022.50. Cherries, per basket, 20875 Cantaloupes, 75a2.25. Vegetables—Uotatoes, new, per No. 1, 2.5023.00; No. 2, 1.00a1.50. tuce, per crate, 50a75; New York, crate, 1.00a1.75. Romaine lettuce, 150 Cymblings, per crate, 26a75. Onlons, per basket, 75al.75. Cabbage, NeW. per bbl, 1.00a1.25. ' Cucumbers, per box, | 7521.50." Eggplants, per crate, 2.50a8.50. Tomatoes, per box, nearby, 50a1.50. Beans, 3.00a4.00 per bbl. Peas, 6.00a 8.00 per bbl. Peppers, per crate, 40a50. ;flge, 50a1.00. Spinach, per bbl, 1.50a 00. CHICAGO LIVE STOCK MARKET. CHICAGO, August 1 (United States bureau of agricultural economics).— Cattle—Receipts, 8,000 head; market slow; beef steers and butcher she stock, steady to strong: early top mature steers and yearlings, 1 bulls and steers, 8.60210.16; canuers stockers, steady; veal Ives, 50 higher; bulk bologna bulls, 4.2524.40; veal calves, mostly 9.75a10.25; bulk n- beef cows and heifers, 5.1547.25; ¢ ners and cutters, largely, 3,00a3.85. Hogs—Receipts, 21,000 head; light and butchers, steady to 5 higher one load early, bulk, S$.10a 10.65; mixed and packing grades, steady to weaker than Monday's av- erage; pigs, steady, mostly 9.75a10.25 heavy, 9.80a10.30; medium, 10.20a10, light, "10.50a10.70; light light, 10. 10.65; packing sows, smooth, &00a 8.65; packing sows, rough, 7.25a8.00; killing pigs, 9.75210.40. Sheep—Receipts, 13,000 head: best native lambs, steady to city butchers; top, 12, packer buying weak to 25 lower at 5 down; culls, mostly 8.00a8.50; no fat western lambs sold early; best bid, 12.50; western feeding lambs, strong to higher; best, 12.50 sheep around steady; two decks light dry fed yearlings, 11.00. BUSINESS AGTIVITY SEEN ON UP Federal Reserve Board Notes “Relatively High Rate’ Greater Part of July. Industrial and business activity at a relatively high rate has been the “outstanding feature of the greater part of the month” past, the Federal Reserve Board states in its bulletin just made public. Treasury officials vesterday also stated the strength of the business of the country had kept at a high level in spite of the twin strikes, and would have gone ahead | with surprising progress had it not been for the strikes. “In fact,” says the reserve board “production has shown further in- creases in some lines, while in those Which normally would be noticeably affected by seasonal influences de- tively slight. Strikes Affect Production. “As the current month progressed, the effects of strikes began to make themselves felt.” said the board. “This influence has served recently to restrain pro- ductive activities in various lines, noticeably iron and steel.” _Improvement was shown in various lines of manufacture as to output. Construction activity had been wel sustained, only slight recessions oc- curring in June, and the production | ma- | of lumber and other building terials accordingly had continued at a high level. Increase in Bituminous. 50; bulk beef | asked: top. . a | GRADE the coal and railroad | and Live Stock GRAIN ‘AND PROVISIONS. BALTIMORE, Md., August 1 (Spe- clal).—Potatoes, new,. bbl., 2.00a2.75; No. 2, 1.25a1.50; bu., 7590; No. 2, 40a 45; new sweets, bbl., 3.5028.00; yams, 3.5024.00. Beans, b 80a1.00. Lima beans, bu., 1.2521.50. Beets, hundred, 1.00a2.00. Cabbage, hundred, 1.50a . Cel- ,.Corn, doz., 10a20. Cucumbers, basket, a35. Eggplants, basket, 1.00a1.25. Lettuce, basket, 75a1.50. Onions, bu., 75a90. Peas, bu., 2.00a3.50. Peppers, basket, 20a25. Squash, basket, 25a30. Tomatoes, basket, 26a40; packing stock, bu., 45a60. Apples, early varfeties, bbl, 1.00a 2.50; bu., 50a1.25; basket, 20a40. Blackberries, qt., 15a20. Cantaloupes, basket, 40a80; crat Crab apples, basket, 50al Damsons, 1 berries, qt., 15a20. Peaches, basket, 35a1.00; crate, 1.5023.00. Pineapples, crate, 2.5024.50. Plums, basket, 40a65. Watermelons, each, 16a40. 2 Selling Prices at 1 O'clock. Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 1.19%; No. 2 red winter garlicky, spot, new, 1.14 per bushel; No. 3, no_quo- tations; July wheat, spot, new, 1.05% per bushel; August wheat, 1.12%, bid per bushel; September, no bid. Sales—Bag lots of nearby, by sam- ple, at 40, 65, 70, 75, 80, 85, 88, 90, 95, 1.00, 1.03, 1.05, 1.06, 1.08 per bushel. Cargoes on grade—No. 2 red winter. garlicky, per bushel; No. 5, 95 per bushel. Corn—Cob corn quoted 3.75 per bbl., contract corn, spot. 77_per | bushel; No 2. Corn, spot, 76%; No. 4 corn, no quotation; track corn, yellow, No. 2 or better, 79% per bushel. | Sales—none. | Oats—White. No. 2, 46% per bushel; No. 3 new, 46. Rye—Nearby, bag lots, 90a1.05 per bushel; No. 2. western export. spot, 88 per bushel; No. 3, no quotation. | Hay—Receipts, 58 tons; range is 117.00 to 20.00 for new timothy and | mixed hay: market firm; supply on Hend ample for trade. | Straw—No. 1 tangled rye, 15.0 fl wheat, 11.50a12.00; No. 1 no! 12.00413.00. { CHICAGO, August ].—Persistent | bedging saies carried wheat prices downward today in the early deal- !ings hefe after a little show of firm- iness due to comparative strength of {quotations at Liverpool. Prospects |of settlement of the rail and coal trikes counted more or less as bear- {ish factors. There was some indica- tions of export business, but the {amount appeared to be small. The { opening, “which varied from 3% cent decline to %_cent advance, with Sep- tember 1.05%al.06% and December 1.07%a1.07%, was followed by a gen- eral rally and then setback to well below yesterday's finish. Corn and {oats duplicated the action of wheat. After opening % off to %a% higher, September §1a61%, the corn market nderwent a general sag. | Oats started unchanged to % high- er, September 33%a33%, and later howed a small decline. | Provisions reflected the firmness of the hog market. WHEAT— Open. High. Low. Close. September . 1.05% 1.06% 1.05 1.05% December 107 1.08% 1. o1 14 578 - September 381 December 36% DAIRY MARKETS. BALTIMORE, Md.. August 1 (Spe- i ive poultry—Spring chickens, white leghorns, 18a20; 24; old roosters, 14; ducks, spring ducks, 20a24; pigeons, pair, 25. Loss off, native and nearby firsts. dozen, 22; southern, 21. reamery, fancy, pound, 27a29; nearby ~creamery, rolls, 24a26; store prints, 24a26; proc- ARE AGAIN HIGHER By Special Leased Wire to The Star. NEW YORK, August 1.—The move- ment of bond prices today was di- vided between % continued rise in many of the railway issues and | steadiness in the United States and | foreign government loans, with the exception of French securities, which “The amount of bituminous coal.”} said the report, “mined in June show- el considerable increase, but since the opening of the present month has fallen off greatly. Coal stocks have consequently been further drawn upon. Anthracite production has been negligible, and stock exception of pea sizes, are practically exhaugted.” Agricultural prospects were said to* be “still very satisfactory for th. country as a whole, although there has been a considerable deterioration in the condition of wheat and oats.” GAINS SEEN IN BUYING. A marked increase in purchasing by merchants throughout the country is shown in the Credit Cleéaring House's weekly report of merchandising ac- tivities by manufacturers and whole- salers. In most instances buying is more active than a vear ago, and in several cases better than two years ago. The Pacific coast section shows increased purchasing. accempanied by increased indebtedness and slow payments. The middle agricultural section has increased buying, while payments show a slight increase. The south agricultural region shows a considerable increase in purchasing, and is the only section which shows decreased indebtedness. In the east there has been a marked gain in purchasing, with Massachusetts par- ticularly active. Pennsvivania and West Virginia are still held back by the coal strike. INDUSTRIAL NOTES. Many elements of fundamental im- provement are reported in the Franklin National Bank's (Philadel- phia) review of financial and busi- ness operations for first half of 1922, “However, numerous factors still show such uncertainty in trade and finance as clearly to Indicate that the post-war ‘readjustment is still far from complete accomplishment,” it says. “Such improvements as are in evidence are sufficiently definite to show that in general we are mov- ing in_the right direction and grad- ually -bringing order out of chaos. Government matters are adjusting themselves and, while income prom- ises to fall short of outgo, the latter is steadily, but slowly, being reduced by eliminating unnecessary activities and by the inauguration of the budget system. Lumber business continues good. Orders are received in a steady vol- ume. Calls for all classes of build- ing lumber are increasing. with an immediate demand for finishing lum- ber for trimmings and flooring. Re- tailers, who bought for immediate meeds only, are now experiencing some difficulty in obtaining stock be- cause of the rail strike.- Some are buying from competitors who bought ahead. An extraordinary season for straw hats is said to be due to ‘the large amount. of rainy weather. Dealers are now cleaning out their stocks at re- duoed prices. They are buying stocks of light-weight felts, which are com- ing in brown, gray and black. Worsted yarn for sweaters. and other knitted outerwear is in steady *demand in limited quantities. Or- ders are expected to be received in increased volume as the time ap- proaches when retailers will need fall and winter stock. Senate action on the wool schedule leads one dealer to state that warsted yarn prices will hold firm. Some dealers, however, belieye they will not go | bigher. . with the | were heav The activity of railroad bonds, pir- ticularly the more specuiative of the group, besides reflecting the recent favorable traffic reports, was an ex- pression of confidence that the end of the railway znd cozl strikes was near at hand. { Most of the lower-priced ralls { either bettered or equaled their pre- tvious high prices of the year. St { Paul 4's of 1925 touched a new top, iand thé convertible 41%’'s crossed 70. { The Missouri, Kansas and Texas and justment §'s when issued. Seaboard Airline Consolidated 6's, the Erie's, and the St. Louis and San Francisco issues were all active close to the record levels established in the last i fortnight or earller in the vear. New !York Central Refunding 5's were a {feature, getting above 97 for the first |llme in 1922. The Northern Pacific $’s galned fractionally, Lehigh Val- ley, Pennsylvania Consolidated 4's reached 83, Reading 4's and Iowa LCentrals 5's worked upward, and New York, Susquehannah and West- ern General 5's rose a point. . The Industrial List. In the industrial list the sugar bonds remained active and stood out in the price movement. Cuba Cane Sugar §'s went to their highest and the Cuba Cane 7's also had a sharp upturn. Punta Allegre Sugar 7's rose slightly. = American ting Paper ine a point and Saks & Co. 7-“;:713 tinued to go into new high territory. Third Avenue Adjustment among the New York city tractions stood out in & fractional advence. Consolidated Gas convertible 7's | fluctnated within the range of 4 point or more. Today was the last on which holders of the bonds could convert them into company stock. French Bonds Heavy. The heaviness of French govern- ment and other bonds, including the municipals. was due to the unsettled conditions of French exchange and the general uncertainty involved in the German reparations problem. Both the 7%s and 8s got to their lowest in some time. The department of the Seine 7s sank to around 91 and the Paris, Lyon and Mediterranean 6s broke to below 79. = Bolivia 8s sold down to a new low since their issue. City of Zurich 8s and the United Kingdom 5%s of 1937 were strong spots. Liberty bonds kept fairly steady, although there was no tendegcy to bid up prices. NEW YORK DRY GOODS. NEW YORK, August 1 (Spe: The market for cotton cloths was al- most at a standstill until noon. Buy- ing of sheetings and standard print cloths became fairly brisk immediate- ly after the government estimate placing the yield this vear at 11,499,- 000 bales, This fmmediately imparted a firmer tone to gray which advanced in price, but buyers hesitat- ed while trying to estimate what re- sponse consumers might make to any striking advances in the price of cot- ton goods. The raw silk market was irregu- lar, but trading was somewhat more active than it has been recently. VISIBLE SUPPLY OF GRAIN. NEW YORK, August 1.—The visible supply of American grain shows the following changes: Wheat increased 4,198,000 bushels. Corn, decreased 21,910,000 bushel Oats decreased 2,178,000 bushels. Rye, increased 342,- 000 bushels. Barley decreased 68,000 bushels, JOWP N COTTON OFSS0ABAE Advance Based on Depart- . ment Report on Country’s 13 _per bushel; No. 4, 1.00(South Carolina, 60; Crop Conditions. This year's cotton crop was placed at 11,443,000 bales of 500 pounds gross welght in the second forecast of the season, announced today by the De- partment of Agriculture, basing its es- timate on the condition of the crop July 25, which was 70.8 per cent of a normal There was a decline of 0.4 points in condition from June 25 to July 25, the condition of June 25 having been 71.2 Der cent of a normal, on which the first forecast of the se: 6 ason, 11,065,000 bales Of 500 pounds gross weight, was based. h JAuerage Changs in the last ten o o a decline of 3.5 points. . O ¥ wes Condition by States. The condition of the crop on July 25 by states follow Virginia, s0; North Carolina, 78; Bouth ¢ Georgia, b4: Flor- a, §a; Alabama, 70; Mississippl, 74; Louisiana, 70; Texas, 72. Arkansas, §1; ‘;’fiennénl:. £5; Missouri, 90; Oklahoma, ; alifornia, 95 ona 6; Ni Mexico, &5 Arizona, §6; New e acreage of cotton abandoned to July 1 was summarized at T f’dp’er o the department announced in a supple- mental statement issucd i1 response 1o Senate resolutions Boosts Price in New Orleans. NEW ORLEANS, A ust 1.—Cotton Jumped $8.50 a bale ut the Jocal, ex- |change today immediately after the reading of the Department of Agri- culture’s report, placing the condition of the growing crop at 705 per cent of normal. October touched 2350 and most active months were carried from 1.69 to 1.71 points higher than ves- terday’s close within a few minutes after receipt of the government's re- port. The carry-over from one season 1o another of American cotton shrank in a record-breaking manner during the cotton year ending yesterday, ac- cording to the annual statistical statement issued today by H. G. H. ter, etary of the New Orleans C ton Exchange. He put the carry-over from the season just ended at 4,904 .- 000 bales, against 9,364,000 a year ago. World consumption of American cotton, he placed at 12,504,000 bales, 2gainst 10,330,000 last year. The carry-over figures were con- siderably smaller than expected by most traders and brokers in cotton. Early Trading Quiet. NEW YORK, August 1.—Cotton fu- tures opened steady; October, 21.23; December, 21.16; January, 21.02; March, 20.97; 20.83. The market continued very quiet during today's early trading. Liver- pool was slightly better than due, but except for some scattered cover- ing there was very lirtie demand, and after opening steady at a decline of 3 points to an advance of 1_point, prices held within a range of 5 or 6 points, with October ruling around 21.20, compared with 21.21 at the close yesterday. There was some bullish comment on complaints of dry, hot weather in the southwest, but traders generally seemed to be waiting for the government crop report, due &t midday. The market held quiet without much change until just before 10 o'clock, when it rose 55 to 60 points. before the figures of 70.8 were read to the ring, and then bulged an ad- ditfonal 100 to 109 points for the pe centage was far under general e pectations. October traded up to 22.50, where the more active positions showed net gains on the day of 18% to 171 points. _—— Washington Stock Exchange at 75, $1. $1,000 at 75. ‘ashington Railway and Elec! $1,000 at 998, Potomac Electric cons. 55—$1.000 at 95%. Potomac_Electric deb, 66—$1.000 at 893, $1.000 at 908 tomac Electric g. m. 6s—$1,000 at 9%, ital Traction—1 at 100%. 5 &t 100%. 1007, 2 at 1007, 4 at 100° Railway and Electric com 5 at 58, 5 District 3 Lanston Monotype—20 at 9%, 4 a AFTER CALL. Potomac_Electric deb. 65—8§3.000 at 98%, $2.000 at 9%, $10,000 st 963 ‘Money—Call loans, 516 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY 4. Bid. Asked Americar Tel, and Telga. 4s... 1% American Tel” and Telga. 4 0% 10105 Am. Tel. and Tel. etl. ir. § e Am. Tel. and Tel. convr. 6. 116 Andcostia and Potomac 5s... . a0 Anacostia and Potomac guar. bs. kg C. and P. Telepho C. and P. Tel. of Va. ba. Capital Traction R. R. bu. City and Suburban’ 5s Georgetown Gas 1st Metropolitan R. R. Bs.. Potomac Flectric 1st & Potomac Electric cons. be Potomac Electric deb, s Potomac Elec. Power g. m. 8¢ Blec. Pow. g. m. & ref 7 Alex. and Mt. Ver. Be.. Washington Gi hington Rrr. h. Rwy. and Elec. & Safe Dep. Cold Storage. . . STOCKS. PUBLIC UTILATY. American_Tel. and Telga...... 12 Capital Traction ‘ashington Gt Norfolk_and W Securlty W. M Terminal Terminal District Farmers Federa Lincoln . Fatiooal iggs Second Washington etropolitan TRUST COMPA American Becurity and Trust.. 283 Continental Trust iy National Savings an 5 Tnion Trust .. 135 Washington Loan 300 Commerce Rast_Washi Security S Beventh U. B. Ba Washington 250" chi FIRE INSUR. ANCE, Natiooal Union TITLE INSURAN Columbia Title . Real Estate Title. TR SISCELLANEOUS. | jumbia Graphophone com.... Colambia_ Graphophone ped. 18 Trans. and Stora LONDON WOOL AUCTION. LONDON, August 1—There were 11,400 bales offered at the wool au tion sales. It was a good se:ect and trading was anima‘ed. with ali quarters buying freely at full current rates. American buyers secured sc\- eral lots of West Australian greasy combings up to 2s 2%d. — Use of gunpowder for firearms was discovered by a German monk, Ber- thold Schwariz, about 1300 A.D. A Al -