Evening Star Newspaper, August 4, 1922, Page 16

16 Secured by first deed of trust on real edtate. 7% FIRST TRUST NOTES n I ent Preval {nterest and commission. 3500 Massachmetts Ave, || Joscrh I Weller &5, %5 Betvist (Under constructiton) . $1,000—$500—$100 Maturing 1 to 5 Years A . ‘We Houses, Attention s.ii Business Owners - >"d Properties, rent Apartmeats If you want to buy, sell or remt Real Estate, think of LANHAM & HILL 1400 H St. Main:366 A. Seay : 715 Woodward Bldg. Phone Franklin 7401 We Offer for Investment | Real Estate Notes Of reponaibla makers secured by st ug om_improv S g property. ON FUNDS LEFT WITH THE COMPANY WE EARN —the highest intereat rate of any Ameriean || T (o = Life Insurance Com- uET PATMEN TyTERES Bank of Bethesda, Md. Phones: . Cleveland 1919 and Bethesds 81 pany. \ INSURANCE COSTS LESS in the Unfon Central. Why pay more? Annets. $160,000.000. Organixed 1867. ‘ E. S. BRASHEARS, Gen. Agent | 710 14th Street EQUITABLE ill Co-Operative Building | “Never” ‘ bas one of our clients loat as much as a single penns in either prin- cipal or interest when investing In Our First Mortgage Notes Every loan placed II-BII a basls of our long-established policy of absolute safety. Write or call loan department Gratifying Results From Systematic Savings tne Eurtanie, T Nas ‘proves betprut to thousands and will help you. Subscriptions for the i 83d Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JORN JOY EDSON. Preaident FRANK P. REESIDE, Secy. for full information. Notes of $250 Up to $5,000 Now on Hand Chas. D. Sager ‘ 923 15th M. 36 ioans and Investmenta. FIRST TRUST NOTES Issued Under Our Supervision Are Ist. Permanently Sgfe, eliminating all worry. 2nd. Give Maximum Yield, better than other forms of equally safe investments. 3rd. Require Least Attention—we look after every detail for you. Let Us Have Your Reservation at Once Loan Department SHANNON - & LUCHS 713 14th Street FIRST MORTGAGE NOTES FOR SALE IN DENOMINATIONS OF S00 DOLLARS AN UPWARDS Londall T Fogner % Co. 1207 %}mtcfi‘cat‘ .M;emm BY PHIL 8, HANNA. Special Dispatch to The Sta DETROIT, August 4.—The serious- ness of the: coal strike was brought forcibly o the attention of this city today by the sudden acknowl- 'edgment of Ford Motor tpat unless [coal shipments increase {t may be necessary to close down-'lts plant. Detroit Edison also announged that it is 85,000 tonx-behind its normal coal requirements and must’ regort to early curtaliment to.'insure -dpera- tion of the public utfiities. The Ford plant here uses 4,000 tons of coal daily, and has but a two-week sup- ply of fuel on hand. Up to the moment wheén the Ford people and the. Detroit Edison Com- pany made known their plight De- troit business standpoint. There was, to be sure, the diminishing coal supply, but all business was operating on an ap- parently healthy basls. The Michigan Central, for example, is even hand- ling more cars at the present time than at any other period this year. Plans of the Governor of Michigan to reopen fourteen coal mines near Saginaw, under state operation, may come to naught, in the opinion of ob- servers, who declare insufficient pro- tection now is being given rallroad property by stata officials because of the fear of -an adverse labor vote. Michigan coal miners, however, have no grivance with the operators, but are striking merely to lend strength 10 the national union cause. 3 Meantime an expansion in business 18 noted in the state bank commis- sioner's report just issued far June 30. Detroit banks are stlll out of debt to the federal reserve, and mer- cantile houses report a satisfactory credit situation. Automobile row has reached the conclusion that price cutting has just about run its course. The larger com- models. i Farmers to Save Crops Truck Products to Market BY J. N. FINING. Special Dispatch to The Star. ST. LOUIS, August 4.—The vigor- ous efforts which commerce is mak- ing to keep under way, despite the retarding influence of both coal and railroad strikes, is the best actual demonstration that fundamental .con- ditions are normal and confidence $5,000 Life Policy, $57.35 e 4o, Send Gate of birth for Wilustratign. tablished 1865. Assets over $200,000,000, M. LE ROY GOFF, Ii rance Adviser All branch Room 610. Woodward building: M. 340. SALESMEN Part or full time for general bond trade. Unusual opportunity for real producers. Reply, giving complete qualifications. Address, Box 33-E, Star Office Let us manage your Rental Prop- erty. Over a Quar- ter. of -a Century Experience. B. F. SAUL CO. 1412 Eye St. NW. Main 2100 e LIBERTY-BOND PRICES Feor $100 Bonds Today. Bonds Bought in All Denominations. LIBERTY. BOND EXCHANGE €04 14th St. N.W. Hours, 9 s.m. to 5 pm. Maln 2097 ——— Is Your Viewpoint Making You Money? OO many look upon thrift as a system of self-discipline, self-denial and “doing without.” of getting what you want. ferently. Think it over now. change it. COMMERCIAL 7 3% ON SAVINGS 15th and Penna. Ave.:-. HOME SAVINGS BRANCHES. CAPITAL AND SURPLUS. - §540000000° - - Safety-Deposit Boxes =~ at Low Yearly-Rentals - - _ 7th St. and Mass. Ave. -8th and H Sts. N.E. 436 7th St. SW. Perhaps you have thought of thrift'fiegatively or indif: 1f your viewpoint is wrong, This is the wrong idea entirely. Thrift is not giving up what you want. It is one of the:best known methods | Start a Savings Account now, with-$l.d) of m(;fe. EVERY BANKING SERVICE med in'a falr way from a; i ! | | I | facturers have Money to Loan |[SHORTAGE OF COAL MAY FORCE .| FORD AUTO PLANT TO SHUT DOWN ‘Minéi-s' Stnkr Begins to Look Serious for Detroit Factories—Fuel Supply Lessens Fast—Elsewhere. firm. With thesé strikes ended, the volume of fall business would be im- mense. “While more is heard of the railroad rather than the coal strike, the latter is by far the more hurtful. Many small faotories in cities and towns "have closed, and fuel supplies of large concerns are ample for only a’'day to three weeks. Public utili- ties, hospitals and public institutions are short.or out of fuel. Towns Which have no train service, or infre- quent service, on account of the rall :A"”“' complain of business stagna- on. ~ 9 Farmers, to save crops, are truck- ing thelr products t6 market, Buy- ing has diminished. * Manufacturers are holding their own as well as they can. The situation’as a whole, how- ever, 'is growing so acute that an al- ready impatient pubdlic opinion may 8obn demand the production of coal under any circumstances. Better Prices in Prospect on Cotton Crop Estimate BY ESTES DOREMUS. Bpeciel Dispateh to The Star, ATLANTA, August 4.—The latest estimate of the cotton crop by the foyernment, upholding the beliet in this sec¢tion- that the yield will be :urer 11,000,000 than 12,000,000 bales, a8 given business a more optimistic outlook. Jgven better prices are in p;uspecl as the season progresses and the certain ravages of the boll weevil ::ll:nme a potent factor in fixing val- Business and industrial leaders, to- gether with the banking community, are beginning to feel more sanguine gver the ultimate settlement of both the coal and the railroad strikes than they did a week ago. and a gain of 33,000,000 in bank eclearings for the first half of the weck shows that trade has not yet felt tha effoct of the double tie-up.” This view is taken in the face of a statement by C. Murphy Candler, chairman of tHe siate rail- shortage Wwithin the next few weeks unless the miners return to work. An emergency coal commission has been suggested 8s a remedial measure, but no action has yet been taken. Retail business continues heavy. Trade in local stores is being stimu- lated by intensive advertising. Commodity Reports From Various Sections Live Stock. HALIFAX. N. S.. August 4 (Special). —The British embargo on Canadian cattie has been removed and imports Wwill soon be resumed at this and other Atlantlc and St. Lawrence ports, it is announced. Glov GLOVERSVILLE, Y., August 4 (Spectal).—Prices of skina in the glove market have advanced consid- erably since January 1, but manu- not yet advanced prices. Manufacturers, however, feel that coming season will bring better business than has been done for sev- eral years. Hoslery. PHILADELPHIA, August 4 (Spe- cial). —Hosiery manufacture hl:“ shows little change, but demand is somewhat mixed. ' Mills making woolen hoslery and wool-and-silk mixtures are sold ahead for deliveries during August and September and October. Other lines report dullness. s Flour. ANSAS CITY. August 4 (Special). TCampbell Baking, recently consoli- dated with Ward Baking of Buffaio, - Y., 15 spending $100.000 in improve- mentaon its Kansas City plant. A {raveling oven with a capacity of 100,000 loaves of bread a day Is be- ing installed S X Chemlieals, - NE WYORK, August 4 (Speclal).— There is an unusually heavs demand for Insecticides of ail kinds, although il’;'rsy ;!afions of the year is usually v ull. Spot white arse: 3 at 8% cents a pound Flenlcilsherd G Automobiles. LEVELAND. August 4 (Special).— Retail auto dealers here report saies for first seven months of this year practically double those for corre- Sponding period of 1921, The used car market has been well cleaned up. 5 Leather. EATTLE, August 4 (Special).— There has been & declded inerease in purchase of leather by manufacturérs and the latter seem willing to pay higher prices aiready mnnounced. ‘Trend is distinctly upward in all lines, especially those™ entering into belt production. PHILADELPHIA, August 4 clal).—The leather market §s h firm and in local circles higher are predicted for belting butts. Lumber. NEW ORLEANS, August 4 (Special). —Orders for pine are increasing at such a rate as to-create apprehension of a runaway market in the near fu- ture. Orders at 127 southern mills for last week have totaled 79,000,000 feet. while production was only 75, 700,000 feet. These mills now have unfilled orders totaling - 300,000,000 feet, while shipments are averaging about. 70,000,000 feet & week. (Spe- olding prices Fratt. SAN FRANCISCO, August 4 (Special). —Canning séason for '~ cling-stone | peaches in northern California s well under way with" a magnificent crop. Farmers are independent and are get- ting good prices. SEATTLE, August 4 (Special). First contracts for Washington co; mercial apples are being made on. s basis of $1.50 to $1.75 ‘per box. This is “about 25 cents less per box than Iast year's opening prices. In 1921 ‘Washington produced 40 per cent of entire. winter-keaping -apple output of the country, due to the fatlure in-east- ern and southern orchards, but this year prices are not expected to harden unless ropexn and Australian de- mand is heavy. Steel. CHICAGO, August 4 (Special).— United States Steel's output in this section - has dropped. from 84 to 78 per cent as a result of rail and coal strike. Output of leading independent pro- ducers remains unchanged between &5 and 70 per cent of capacity. - Inquiries for steel have been active, but little business. has been - placed,” owing - to filled-up condition of ‘mills. s Coal. CLEARPTELD, Pa., August 4- (Spe- clal).—Small mines are reaping a har- vest with large plants cloged, a num- ber operating. at.a profit of 36 & ton, although miners are being paid as high as $2 a ton. BOSTON. Aufiuat 4 (Special).~In- rosds on_second-growth forest mlgn in New England states .may be ex- pected this fall as a combative measure inet coal strike. Coal reserves are small 'in- many New England centers.: -1 ‘Notes. eclal). E) contracts for two large passen- flm“'-‘mm-ri’ for ‘Detroit 'nndpgeva_ land Navigation. ‘vessels ‘will be de}ivered and put 0, commission in 1924, In addition the navigation company’ has “ordered anot! hundred-foot * freighter; maki; boats ordered.by this;concern so far_this year. . With repair w in these orders should k ship; next two _hexre busy.the best part of ELP; August 4 _(Spe- 515) -.xnnlxl!liI‘A' railway. '!nootepr," 2 combination trolley car, raliroad copchi’ and. maur".rue}, has been e o for doal-burmias ne 0 01 2 s op ahatt beanch..iines. The congumeéd. Roove Rhest TRACTON SRS MENERLECTED National Savings and Trust Sold at $300—Budget of Happenings. BY I. A FLEMING. Railway common seems to lag & little day by day In the local stock 'market. There {s not the zip and action in it 'that there has been for a2 month or two passt. Not a trans- action was reported today, 57 being the best bid and 68 asked. Brokers belleved that the prospects of the company and the chances for a divi- dend on the common stock would hold It -around 60. Indeed, they have not been disippointed as yet, for the stock is held firmly at 68, not far Lfrom its high price on this movement, but. as stated before, trading is ex- ‘ceedingly dull—almost not at all. ‘The prdferred shares were steady at T8%. B — Lanston, the leader. yesterday wi entirely neglected. The heavy bu. ing movement has stiffened the views of holders and they aré not anxious to part with thelr shares, none being offered today under ‘81. Mergenthaler sold at 152%. D. (., FRIDAY, AUGUST 4, 1922 FINANC IAL Grain, Produce and Live Stock LOCAL WHOLESALE PRICES. s—Strictly fresh, selected, can- Cled\ per dozen, 24a25; e receipts. | Potatoes, new, barrel, 1.50a2.00 28; southern 5. Mol . 75a1.60; bushel, N Live poultry—Rooste! rs, per 1b.. 15 turkeys, per .. 25: sp?ienz chick- ens, per Ib., 27a3%; keats, youns, each, 5ad0; fowls, 22, Dressed. poultry—Fresh killed spring chickens, per Ib., 28a35; tens, per 24; roosters, per ‘1b., 10; turkeys, per 1b, 36a40; keats, young, each, 35a50. Live stock—Calves, choice, per ID. 929%; medium, per Ib,, 8%; thin, per ib. 567 Toamba. oice, por by SHILL e ';’;n, 3.00a8.00 each; live hogs, per Green frufts—Apples, new per bbl. 1.5024.50; per bu.pgukal. nearby, 508 2.00. CaMfornia oranges, Pper Ccrate 8.00210.50; lemons, per box, Raspberries, 20240. Peaches. per crate, 1.00a3.00. ~Cantaloupes, 7623.25. i Vegetubles—Uotatoes, new, per Dbbl. No. 1, 2.50a3.00; No. 2, b0al00. Let tuce, per crate, 50a75; New York, Der crate, 1,00a1.75. Romaine ce, 1 Cymblings, per crate, 35a75. Onlons, per basket. 75al.75. Cabbage, NeW. per bbl, 1.00a1.25, Cucumbers, per box, 6a2.00. Eggplants, per crate, 2.5023.50. Tomatoes, per box, nearby, A 25:3”.' fim,oo r bbl. P!u.' lgg: A per sket. ‘e , per crate, 50. Kale 50a1.00. " Bpinach, per bbl. 1.50a2.00. DAIRY MARKETS, BALTIMORE, August 4 (Special).— Poultry, alive — Spring _chickens, pound, 20a28; white leghogns, 20822; old hens, 22a25; white leghorns, 18a 20; old roosters, 14a15: spring ducks, 18a22; pigeons, pair, 25. 14 Eggs_(loss off)——Native and nearby firsts, dozen, 22; southern, 20a2l. Butter—Creamery, fancy, pound, 36 a36%; prints, 37a38; nearby treamery, 34; ladles, 26a27; rolls, 24a26; Bonds furnished the bulk of the business. Sales were made at 400 for Potomac General 6s, and 96% to 85 for Gas 5s. Action in National Savings and Trust Company shares was Iraportant and attended with an advance to 300 a share, after aa initial trans- action at 291%. This company pays 10 per cent annual diyidends, 8o that at that price the investment gives a very conservative return. Reserve Ratio 79.6 Per Cent. It is evident that there has been_no increase in the demand for money, as | the reserve ratio of the regional banks of the system now stands at 79.6 per cent, an increase of 7-10 of 1 per cent over last week's ratio. The bills bought in the open market have decreased some $6,000,000 and the holdings of Treasury certlificates panies, except Ford, are practically|road commission, that Georgia is in | fell off nearly $40,000,000. down to an even basis on standard |danger of » serious fuel Every indication points to continued ease in the money market. That the federal reserve system is unable to employ {ts immense assets, $4,859,- 131,000 to but 30.4 per cent thereof is Indisputable evidence of the with- drawal of commercial borrowers from the banks—for some time to come. Are Not Gettable. Biind pools, operating | sccurities are not amenable to the “blue sky laws” of Maryland. These pools secure money from the public for market operations, buying stocks for cash, using plausible advertise- ments and taking certain risks in the market. just as v trader must, but their operations are not controlled, and may or may not be perfectly legiti- mate. n market Gov. Harding's Term. Gov. Harding's term of office as head of the Federal Reserve Board will expire with August 10. i Tt is belleved that the President | will announce his reappointment this week. despite opposition from gri- cultural interests. At the same time he may announce the appointee, as suggested in a recent amendment—a “dirt farmer." Tt is understood that Gov. Harding has the indorsement of many bankers and also of Secretary Mellon. & strong_point in his favor; also of many banks and associations. Eugene Meyer, jr. head of the War Finance Corporation, has been suggested as a possible appointee. Branch Banking. The Northwestern National, one of he leading Minneapolls institutions, has purchased the Lincoln Nationai Bank and the South Side State Bank. i and announces that they will be &overllefl as branch banks. ! E. D. Decker, president of the| | Northwestern National, announces that | the *controller of the curreney knows what s being donesin_ Minneapolis and has not forbidden such mergers as Wa, have perfected.” 1"This and other mergers would seem o settle the branch banking status, so that national banks need not hes: tate to seek desirable locations in jtheir home towns where business dictates. Out in Los Angeles there has just Dbeen completed ‘a merger, the First National, Los Angeles Trust and Sav- ings and the First Securitles Com- pany, with banks in_twenty-four cities and resources of $200,000,000. Computing-Tabulatiag Company. There is considerable interest in Washington in the Computing-Tabu- lating Company. The company. re- ports -net earnings for the half year ended with June of $814.798 after ail | taxes. charges and interest. This amount is equal to $6.31 a share on the capital stock of the company. For ithe same period last vear the earn- ings were equal to $3.43 a share. i Recelved 16 Per Cent. { A local New York Stock Exchauge | house subscribed for $500.000 of the 4% per cent four-year Treasury notes recently offered by Secretary Mellon. This morning it received its allotment {80,000, just 16 per cent of the order. DRY GOODS DULL. Buyers Continue to Hold Off at| Present Prices. NEW YORK,. August 4 (Special).— Dullness, actuated by "an unwilll ness on the part of cotton goods bu: ers to make purchases at present , character- | unsettled economic situation, due to strikes, coupled with the decline in foreign exchanges and the backwash of sentiment regarding the govern- ment report, were factors in the h tancy to buy. Price levels continue about the sal A moderate amount of business was done for spot deliv- ery in standard print cloth construc- tions, and demand from the jobbing trade was a sustaining factor ‘in sheetings. Fair business was report- ed in pocketing twills, voiles and sat- eens. The raw silk market was steady on smalil - trading, .with. demand largely eentered on the coarser sizes, but the increased number of looms.in opera- ition- is stiffening the position of sellers. . 3 —_——— FOREIGN EXCHANGE. (Quotations furnighed by W. B. Hibde & Co.) Selling ebacks—doilar values at noon. -0004% Hente By the Associated Press. - : NEW YORK, August 4—Foreign exchange firm. Great Britain, demand, 445%; cables; 4.46%; sixty-day bills 4.43%. France, demand, 20%. Italy, demand, 0483." Belgium, de- 07783; cables, 0711, Germany, d, .0018%; cabl a8 5 ,.0014. Holland, @emiand, .3862; cables, .3868. Norway, demand, .1715. Sweden, demand, .3610. Denmark, demand, .2160. Switzerland, demand, .1900. Spaln, dimand, .1583. Greace, " demand, -0285. Poland, de- mand, .00013%. Csechoslovakia, de- mand, .0246. Argentine, ' demin 3837, Brasll, demand, .1 -/ 0HIO OIL-CUTS PRICES.. . FINDLAY; ‘Ohio, August 4. O Bnodnges & 30-cent reduction in prices of 8ix. grades of. Wyoming grude ofk ?ew quotations are: Grass egk, !I:o.‘) 1k_Basin, $1.20; ‘B &ents, Creek, 2 Crotk, 80 ;q}_z‘:-,":;e Mall Crask, P : ( feature among the industrials. I s 0d_A [h l td 0250 00120 { Am a0 863 Tiamia * | Becond tinental Trus Union Trust % ‘Washingten Commerce d, 3| Seveats :&0 & Wi | iremente o TITLE Al —Ohlo MISCELLAN! Columt 308 | packed, 24; dairy prints, 24a25; proc ess butter, 31a32. NEW YORK, August 4{.—Butter, steady; recelpts, 14,999 packages. Eggs—Steady; receipts, 19,930 cases. New Jersey, hennery whites, extra fancy candled selections, 50ab1; do., uncandled, 44a48; state, nearby and nearby western hennery whites, first: 2o extras, 32a44; Pacific cosst whites, firsts to extra firsts, 30a37. Cheese—Easy; receipts, 2,154 boxes. ONDS ARE WANTED AT HIEHER PRICES By Bpecial Leased Wire to The Star. NEW YORK. August 4.—The de- mand for industrial and railway se- curities overshadowed the movement of foreign government loans in to- day’s rather dull bond market. Many new high prices for the year were reached while the bulk of the list remained around the closing levels of the preceding day. United States government bLonds were quite heavily bought, but the price changes in this quarter were slight. = The absence of any large offerings of new bonds kept down the week’s average, and was in marked contrast to the amount of fresh financing done even a few weeks 2go. Raliway Issues Firm. Investment buying of the highest grade railway mortgages continued, but as a rule quotations were bid up, if at all, only fractionally. Virginia Rallway firet 38 sold at their highest for the year and so did Long Island refunding 4s, both on advances of two or more points. Creat Northern 5is and Oregon- Washington Raflway and Navigation Company 4s also established new tops. - The riee of Northern Pacific 3s and 58, the latter reaching thelr highest for 1922, also was noteworthy, and better prices were made by Texas and Pacific first 58, Grand nk 6s and St. Louis Southwestern first 5s. Sugar Bo Feature. Sugar bonds were outstanding Cuba Cane Sugar 8s rose sharply to around 93 and American Sugar €s and Punta Allegre Sugar 7s also struck new tops. American Teléphone and Tele- PR _gollateral 4s and Goodrich 6%s their previous records. The #dvaneé in Cerro de Pasco 8s, fol- lowing Thursday's gain, was the most important movement in the metal highes The recovery of Brazil 7s and 8s was the only interesting incident in the foreign external division. Copen- hagen 5128 declined about a point. The majority of the representat! foreign loans were steady. The tendency of French government and industrial bonds to mark time during the day was typical of the group. Washington Stock Exchange SALES. ¢ Fashington Gas 5a—3500 at 951y Potomac Elec & m. 65—$3.000 at 100, 1,000 at 100, National Savings #nd Trust' Company—10 at 20112, 10 at 201%. Mergenthaler Linorpe_g st 10234, 3 at 15215, 1 at 132%, 8 at 1533, 2 at 187, AFTER CALL. Washinzton Railway and Fiectric gen. 88— $1.000 ai” 99%, $1,000 st 995 Washington Gas' 55—$1.000 at 85. ional Savings and Trust Company—10 t_300 Washington Railway. and Electrie pfd.—3 at 78%. 25 a Money—Call loan: per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bid. Asked. Americ 92 e 101% cnpy aad Suburban 5s X3 Potomac Electric 1st Potomae Electric cons. Potomac Electric deb. Bs. Potomac Eiec. Power y. & 78 lwy. and Elec. g. m. 6s. w?! 100 MIBCELLANEOUS. _ Riggs Realty 5s (long| Riggs Reaity Bs (short 2 Becurfty Storage & Bafe Dep. 65 98 STOCKS, PUBLIQ UTILITY. Ametican Tel. and Telga. 122 Capital Traction 100 Washington Gas 38 Norfolk_and Wash. 195 Wash. Rwy. and Elec. com. 57 Wash, Rwy. and Klec. ptd. ] » 7 [ thale Linotype S e ..,! l 1 GRAIN AND PROVISIONS. BALTIMORE, August 4 (Special).— clrrsu‘ 100, 2.00a3.00; celery, dozen, Corn, dozen, 4a10; cucumbers, bas- ket, 25a35; egg plants, basket, a .00; lettuce, bushel, 1.00a1.75; onlio: b 1, 76a85; peppers, basket, 20a25; squash, basket, 25a30; tomatoes. basket, 25a35; packing stock, bushel, 40a50. Apples, early varieties, barrel, 1.00a .50; bushel, 50a1.25; basket, 20a40; blackberries, quart,” 12a20 loupes, basket, 25a65; crate, cr ples, basket, d; pound, & quart, 12a20; peaches, crate, 1.25a2.25; pine- 3.0025.00; plums, bas- ‘ket, 40265; watermelons, each, 15a40. Selling Prices at 1 0°Clock. Wheat—No. 1 red winter, spot. no quotations; No. 2 red winter, spot, 1.23%: No.'3, 1.20%; No. 2 red winter, [ r}lck spot, 1.17% per bushel; bushe September, no bid. Sales—Bag lots of nearby, by sam-|enabled traders to run ple, at 60, 65, 70, 73, 75, 78, 80, 82, 90, | briskly now and then. 97, 1.00, 1.02 and 1.04 per bushel. | | Jew® MARKET IS QUIT, | UNDERTONE FIRM ighe!, 1.25a1.50 cabbage, 100, 2.00%¢.00; ' Traders Are Cautious fn View of Conflicting Condi- tions—Strong Spots. BY STUART P. WEST. NEW YORK, August 4.—Specula- tive opinion about the strike re- mained in a state of suspense today. there being very little new informa- tion to work with. In consequence stocks moved back and forth fitfully. The undertone was as firm as it had o. ; August wheat, 1.17% per|been before and scarcity of offerings of some of the steel and sugar stocks 1 them up rather A direct reflex of the rail strike was Cargoes on grade—No. 2 red win-|seen in sharp advances of American ter, garlicky, 1.16% per bushel; No. 3.| Express and Adams Express, althougn 1.08; No. 4, 1.03 per bushel; No. 5, 98 | it was a question from the purely eco- per bushel. Car Jots—No. 3 red winter, spot, 1.20% per bushel; 5000 bushels of August No. 2 red winter, 1.23% per bushel. Corn—Cob corn quoted 3.75_asked | worke: s issued by railroadeemployers nomic point of view whether belief that the rail strike would increase the movement of goods in express trains had & good basis. Figures and percentages about shop per bbl; contract corn, spot, 75% per |indicut.d a steady expansion of WOrk- bushel; No. 2 corn, spot, 77; <orn, no quotations; track corn, yel- low, No. 2 or better, 79%a80 p.. bushel. Sales—None. Oats—White, No. 2, 46% per bushel; No. 3 new, . - No. 4|in~ rces, and if this is the case .uughout the country the transfer of freight, outside of coal, should show less and less effects of labor difficulties. Opening Firm. At the start of business, gains were Rye—Nearby, bag lots, §5a1.03 per bushel; No. 3 western export, spot,|fairly general, although mostly of 88% per bushel; No. 3, no quotation, |fractional extent. Where speculative Hay—Recelpts, 66 tons; range is|endeavor for the rise was exercised, 16.00218.00 for fair to good timothy it ot quick action evidenced in new and light mixed; market firm; supply | high records for Corn Products, West- | Cattle—Receipts, 3,500 = head on hand ample for trade. Straw—No. 1 tangle rye, 15.00; No. 1- whe; 12.00213.00. CHICAGO, August 4—Wheat took 2 decided upward swing in price to- day during the early dealings, most of the impetus being apparently the result of efforts to have farmers hold | 0! back their grain under present con- ditions. quotations, despite weakness yester- day in America, tended further to in- duce buying. Bulls were also inclin- ed to stress gossip about car short- age and lack of the usual coal sup- ply. Opening prices, from % to 134 higher, with Septem- ber 1.06 to 1.06% and December 1.08 to 1.08%, were soon followed by ma- terial additional gains. Corn and oats were firmer with wheat. - After opening % to % high-! er, September 613%a61%, the corn market continued to climb. Oats started a shade to % higher, September 333, and later made further gains. o’ Provisions lacked support. Potatoes—Steady: receipts, 48 cars; United States shipments, 403; Eastern Shore Virginia barrels cobblers, 2.75a 2.90; New Jersey sacked cobblers, 1.60 cwt; Kansas sacked cobblers, 1.00a 1.10 ‘cwt.; poor quality, 85a95 cwt.; Minnesota sacked, eariy Ohios, 1.158 1.25 ewt. ‘Wheat—Reactions took place at time, but all were succeeded by mod- erate rallies. The close was firm lz/n 2% net higher with September. 1.08% 81.08;; and December, 1.0921.0914. Damage to corn from drought in parts of South Dakota and Minnesota had some bullish effect. The close was firm. 5411/ net higher, with Sep- tember 6214a62%. WHEAT— Open. H&h. Low. Close. Beptember 1.08 1.08% 1.08 1.08% December 100% 108 109 114% 112% 1.13% A2 1% A2 S5 .6liy Blag | Deee: 384 .35% 381 | May D CHICAGO LIVE STOCK MARKET. CHICAGO, August 4.—(United States bureau of agricultural economics).— ; market fairly active: beef steers strong; qual- ity plain: top vearlings and matured steers, 10.40; bulk beef steers, 8.50a 10.00; bulls, .15a25 lower; other classes generally steady; bulk butcher cows and heifers, 5.25a7.00; canners and cutters mostly 3.2524.00; bologna bulls largely 4.00a4.25; bulk vealers, 10.25 a10.75. Hogs—Recelpts, 19.000 head; market steady to strong: spots higher; buik good light and light butchers. 10.75a 10.80: few lights, 10.90; bne load 165- pound averages, 11.00 out of line; bulk, 2.25 to 250 pound butchers, 10.00 a10.60: good 300-pound butchers, 9.50; desirable 300-pound packing sows mostly 8.35a8.50; heavies and roughs mostly ! 0 do; pigs steady to strong: 9.50a10.10; medium, 9.90210.85; 70a10.90; light lights, 10.60: packing sows, smooth, §.50; packing sows, rough, 7.25a’ killing pigs, 9. .60, Sheep — Receipts, §,000 head; t‘all lambs strong to 15 highej; top na- tives, 12.85 to city butchers, 12.75 to ackers: cull natives mostly 8.50a .00; fairly good Oregon lambs 12.85 no choice westerns here: good 61 2 a 5; pound Oregon feeding lambs steady at 12.50; sheep scarce, generally steady. PRINTERS’ INK TONIC. Best Means of Moving Slow Stocks, Says Expert. CHICAGO, August 3.—Liberal uss of advertising_and printers’ ink was the advice of L. F. Gilliotte of Yankton, D., " to the Interstate Merchants' Council convention as the best means of moving “slow” stocks of merchan- dise. “Any merchant who can sell goods over the retall counter can sell the same articles through advertising in he d in outlining ising. Conservative style in make-up of copy, Mr. Gllliotte declared, is more effective than circus-llke methods. Competition in business, W. J. Phillips of Youngstown, Ohio, said, is very keen and it behooves merchants and business men engaged in retail iness to give first consideration to the purchasing power of their cus- tomers and not the price. CRUDE OIL PRICE CUT. SHREVEPORT, La., August 4.—A reduction of 35 cents per barrel in the price of crude oil in this territory, except Caddo heavy and Bellevue, is announced by the Standard Oil Com- pany. —_— PARIS BANK STATEMENT. PARIS, August 4—The weekly statement of the Bank of France hows the following changes: . Gold in - hand ' increased 211,000 trancs. Silver in hand increased 100,000 trancs. ‘Notes in circulation increased 34 385,000 francs. . Treasury deposits 5,000 francs. < "OQnerll deposits incressed 5,378,000 francs. Bllls discounted Increased 414,022,000 -16,421,000 franc: Fresh advances to the staté amount- ed to 600,000,000 francs. E decreased b4, ces decreased LONDON BANK STATEMENL LONDON, ust 4—The weekly statement .of the bank of England shows the following chang Y Total reserve, decreas Circulation, increased, Bullion, decreased, £4,410. Other securities, increased, £4,737,- Other _deposits, " increased, " £393:000. Public deposits, increased, £1,059,000. Notes resérve, ‘decreased, £1,011,000. Government securities, decreased, £2.225,000. \i “The proportion of ‘the bank's res serve to liabilities this week is 16.28 per cent; last week it was 17.30 per esnt. [ E Rate of discount $ per cent Renewal of export demand |rafls reco together with strength in Liverpool | reactions re which varfed|™ ern Union and several others. The resumption of dividends on at, 11.50a12.00; No. 1 nominal,|Laclede Gas shares at the old rate of $7 a year, stimulated that stock, and Crucible Steel fluctuated with com- siderable rapidity between 92 and 98 In fact, there was active buying i Tnited ' States Steel, Republic and thers of the group around midday at the same time that some of the vered part of their gradus! ecorded earlier this week. Cautlous on Rails The trading in the railroad depart- ment indicated that the street war acting cautiously in increasing com- itment. 3 ‘The movement by eastern railroads to send recruite to western and south- ern lines to fill strikers' places looked like a reflection of improved mechan- ical conditions in the east. Never- theless, one interpretation was that conditions In territories away from the seaboard might be less satisfac- tory than had been thought before. Tecessitating a draft on outside labor supplies. Money 3% Per Cent. An easying tendency of call loans was explained in part by this week's federal reserve statement. Money went from 4 to 3% per cent before noon. The reserve System’s increase of more than 321,000,000 in reserves s0_completely offset an expansion of $13,000,000 in reserve notes and a rise of nearly $20,000,000 in loa: h ratio of cash to notes and deposit 1iabilities was carried up to the high- o8t point in almost five years. At New York the expansion of reserves accounted for more than two-thirdw of the entire reserve growth of the consolidated banks. . Pere Marquette, Pere Marquette was one of the fed- tures of the low-priced rail group and moved ahead with ease once it %ot into new high ground above 3%. Deapite the .coal strike, the June earnings of the company are eéncour- aging. Gross of $3,304.993; comparcd with $3,151.544 in June last year. while the net of $709,448, compared with $451.032 In May and $497.520 in June of 1921. The large increase net results are due partly from s ings in operations. Little Ralls Advance. Reports that there was a much stronger drift by the tired-out shop- men toward their old jobs was fo!- lowed by a demqgpstration in the junio? rails, egpecially "the speculative favor ites 'such as the Pauls, Pere Mar- quette, New Haven, the Altons, the Tries and the Texas and Pacific. Remington Typewriter. For the first half of 1922, the Rem™ ington Typewriter Company earned equivalent to $7.93 a share on the first preferred stock. The company in 1921 reported a deficit, after charges and inventory write-off, of $2,850,000. It is safd that dividends will be resumed on the first preferred when directors are satisfled that the 7 per cent rate can be continuously earned. At the present time there is 8% per cent in accumulated back dividends. FAR BUSIESS ON THE CIRB MARKET By Special Leased Wire to The Star. NEW YORK, August 4.—Trading opened up actively on the curb ex- change today. Oil shares gained groufld in the early trading and a better demand appeared for the Standard Ofl issues, notably Standaré Oil of Indiana. which got up to 110%, while the Kentucky shares also bettered their previous closing price. Price changes in Anglo-American and International Petroleum were only fractional, but it was noticeable that the undertone of the whole mar- ket was decidedly firmer than in some time. Cities Service issubs were firm en the announement by the company of the plan to redeem the preferred and preference dividend scrip either for cash of for § per cent convertible gold debentures at par. Maracaibo Strong. Maracaibo, which has been one of the active leaders of the independent oils for the last week, continued in good demand today, getting up. to 22 at one time, while Merritt, South- ern States and Carib Syndicate were fractionally higher. Ryan Consoll-. dated and Marland of Mexico, on the other hand, were down somewhat. It was reported that Kansas and Gulf has brbught in its No. 8 well in the Fox Bush (Kans.), field, with an ink- tial flow of 150 barrels. Motors Slow. After opening higher, Durant Moto: encountered . proft-taking and lost more than its early gain. The Indi< ana shares were inactive, and Stutz Motor was practically neglected, the first sale taking place in the aftef- noon at 18%. rd Motors continued to de- cline touching 13 in-the early trading. ‘Intercontinental Rubber sold at & new low for the year at 4%, while Goodyear appeared heavier. - The recént improvement in the sugar situation had a stimulatin effect on the shares of Cuban Domil fcan Sugar, that stock getting uf aver a _point. Profit taking caubed a loss of’ ;boat a point {n Phillip Morris and Gold? wyn_Pictures, the io issues and Hayden Chemical ruling around their previcus closing figures : A faif amount “of sctivity “was shown In mining res, with Boston and ‘Montena' again’ the leaders, but price movements were narrow. Bondg were quiet and lower. BAR SILVER QUOTATIONS. - NEW YORK, August’ 4.—Forelgh bar silver. 69% ; Mexican dollars, SBQ 'llfll) v A:l’\ll! 4. ‘gilr !II:IL. er’ ounce; money, cén Distount sate: Nhort bills, 7542 3-16 Ber csut: three-month biils, 2% een! ®