Evening Star Newspaper, July 10, 1923, Page 23

[ BYEXLEBUTOR v e ther Reduction in Charges Be- Carlin of Virginia Testifies at fore Long. Tria—Says Schwab Lauded Plant. THE EVENING. STAR, WASHINGTON, Life’s Darkest Mément. We'RE o’ Dowe To TH DAmM At KETCH SOME D. C, TUESDAY, —By WEBSTER. CoME | RADCLIFF, " S TIME To TAKE YourR AFTERNOOMN NAP, Now DON'T LET ME HAVE To SPEAK To You AGAIM. YOou REMEMBER MAMA PROMISED THAY (F You WERE A GooO BoyAnD Took YOoUR HOUR'S NAP WITHOUT MAKING A FUSS SHE WOULD LET You HELP HER. PiCi SOME PAMSIES ANMD GERANIUM S FOR THE TABLE JULY 10, 1923. NEW YORK CURB MARKET Received by Private Wire BY WILLIAM F. HEFFERNAN. NEW YORK, July 10.—The chief motive for the selling on the curb exchange today was the announce- ment of another cut of 25 cents a barrel in Pennsylvania Crude OIlL This was somewhat of a surprise, al- though it was easily explained on the ground that overproduction has not yet been corrected . The announcement prompted the professionals to renew short opera- tions of the oil stocks, and this had an unsettling effect upon other is- sues. Tt was evident, however, that what liquidation was’ being brought out was comparatively small. The upward movement in Gulf OIl of Pennsylvania was abruptly halted | half point to a point, but some of \account for the renewal of activily FINANCIAL. Direct to The Star Office States also was rather heavily pressed for sale and dropped to with- in less than a point of its low of the year, but made up most of the decline iate; Standard of Inditna was the most active of its group, getting down a point and a half at one time. Other Standard oils recorded los: of a these stocks rallied later. There was nothing in the news to at advancing prices in Goodyear com- mon, in face of general unsettiement in other industrial shares. The stock, after opening fractionally lower, ran up a half point or so fronv the Mon- day close. _Glllette Safety Razor got { above the Monday high, still reflect- |ing the announcement that the Bos- | ton strike had ended. However, more | than the early gain was lost in the ROKER EXPELLED FROM EXCHANGE Consolidated Committee Acts Against H. A. Willis for Nullifying Orders. By the Associated Prens. NEW YORK, July 10.—Harvey A. Willis, head of a brokerage firm bearing his name, was expelled to- day from the Consolidated Stock Ex- change for nullifying “the effect of and the stock came off about a point | afternoon. | a client" i ; from the previous closing before sup-| There Was little or no_feature to client’s order by taking the trans i action to his own account.” Willis had been a member of the exchange since December 12, 191%. The committee on ways and means, which investigated the charges against him, found that he was guilty of “obvious fraud or false pretense.” in having on many occasions, as shown by evidence, under cover of two opposite transactions, indulged in the practices complained of. Harvey A. Willis & Co. issued a statement saying that the firm was 100 per cent solvent. “We met a run a vear ago,” the statoment said, “and also a month ago. Our balance sheet of June 30 shows us to be absolutely solvent. and shows a satisfactory surplus all in addition to outside personal re- sources of Harvey A. Willis.” TRAFFIC HEAVIEST EVER. Head of Illinois Central Would Rush Coal Along. Special Dispateh to The Sta 8T. LOUIS, July 10.—C. H. Mark- ham, president of the Illinois Central. says the railroads are handling more traffic than ever before at this season and is urging early transportation of coal on coal producers in view of the heavy traffic expected in the fall and winter. The Illinols Central has re- ceived sixty-five new locomotives and has 125 more ordered. About 5000 coal cars are nearing completion. and work will be begun soon on 400 more DIVIDENDS. Pe. Par- Stock ot riod. able. Record Q July 16 July * Q Aug. 1 July 23 Bep. 1 Aug. 1 Sep. 1 Aug. 1 port was encountered. Southern | the trading in the mining group. 2 Interstate Roalties 140 Keystone Ranger .. .12 8 Maracaibo Oll ... ‘ Mex Ol ........ Mount Proa . Mount Gulf .... BONDS, New Bradfd Oil w i High .. 1031 10815 Low. Close. | 103% | 1084 | 0| 931, | 101 | 6% | 3. SEEESL Roy Can O & B. 8alt Ck Cons. Balt Ck new....... Eanta Fe 0 & G... 3 Sapulpa Refine . Beaboard Ofl .. Sou States Oil.... 0 5 Turman Oil ......0 Wilcox Oi & Gas. Y Oil ... INDUSTRIALS. Alum Mfg ... P Am Gax & Bl pfd. Am G & El new wi e Rme Anaconda 6 Anglo-Am 0i: Arm & Co Del 5 =82, - Awvo Stm_Hd'e 61 ALG & W IS8 e Heth Steel E an Nat Ry Eq t Serv 7a D.. Factions Expect No Strike, But Public Is Taking No Chances of Freezing. i ! Cons Gas Ral | Detroit City i | . Detroit Edison fs... . | / % ) Duion T & b | Federa: Sug 6a-33s . | e g o | Fisher Body 6s ! Fisher Body 6s | Ak, 2 air Robt 7x ! Galur? K Galena Sig 0N ! y ’ E en Asphalt 8s Grand Trunk 6135 Gult 0il of Pa bu.. Hood Ttubber T Kennecott. Cop 7.0 Libby McN & L 7s.. Lig W L re est Ts. Bilyn City R R.. Buddy Buds ..... Centrifug Iron Pipe Chie Nip B trust Chicago Steel Wheel CabeiCo .. ... Dubilier ¢ & Radio Durant Sfot of Ind Eaton Axle ...... Elec Bond Share pf Fed Telegraph .. Gillette 8 R .10 en Alden Coal . Goodsear Tire - Tianna M A T-pe pf Heyden Chem ... Hudson Co pfd I5drox Corp . ater Cont'l Hubber Kexstone Nolether. . Lehigh Power sec . ucey Mfg......... N Y Tel Co pfd.. North Amer I & P Shelton Looms Tenn Elec Power Toh Prod Exports Todd Ship ........ Unit Retall Candy . US Lt & Heat pfa. Western Power..... MINING Arizona Globe Cop. Beicher Extens.... 7%, Y ’/ &= // ; 7 ////(/Z//%///////‘/f/ G 7 con 4 3 & /" ors & Co7iin. " % eather Wy, Ser 5s sieiee s o %, oes-Shat fn . o 7 / Slons-Shatt A & Solvey ot Cle & > %y, ity , an- /% '(;’l(,['// ) Compa: Cleve, Eiec. 11l Clev. E. L. 8% pf Clev. B. L. 8% pt Detroit Us. Ryt Rate. 3507 EX-DIVIDEND TABLE. 12— m. Gas & Elect. pf Militken Bros. pt., July 18— Allied Chem. & Dse. q Am.”_Shipbullding, Art’ Metal Coustructlon, ‘q Associated Dry Goods. | British-Empire Rteel ist p Balt. & Ohlo pf.. s Chic. Poeumatic Tool. o Gominonwealth ~Edison, Yacuum Ofl 7x.... . Valvorine Oil 7s FOREIGN BONDS. |1 Argentina oo 100 100 e eecenr | 5Kin of Neth 6s U 1011 10015 Bioston Mont Corp. BIG GAIN'IN LISTINGS | 5 i T i S " ON STOCK EXCHANGE R 1 (L Y. Wow BUILDING TIE-UP NEAR IN ST. LOUIS Carpenters and Sheet Metal Work- "ers at 0dds Over Division of Labor. i .08 0 Ruckere P L T Continental Mines.. Cumberland P L | 104 Crenon Gold . Varera BL. 10 Emma Silve Humbie 0 & R oem 293, Edreka Croesu Pamhle: Ly i Fortuoa Mines.. . e hi Goldfield Dieep Min e L Goldfield Flarence LT Goldfield Jackpot N'Y Tranatt Hrateie ON s Gas Hardune' Prairie P L Hill Top Nevada. . South Penn’ Oil.. Hollinger . ... 17000 8 0 Ind Bullinees, 100 & 0 Knnsas new Hechal Mine. 3008 0 Kyo..... Skl AR Howe Sound . 1300 Vacuam 0N mew..: Independence Le 10 Washington Oil.. . s ales in undreds. INDEPENDE: $ Ark Nat Gas Harrington 0il Big indian Oil Cardinal Pete.. 8 Carib Synd 1, Citlex Service Citles Service pfd it Sers B cfa Crecle Syndicate. 1 Gilliland 011 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY 102 105 g 140 08 48 300 Anzlo Am 0il 182, 143, Candelaria Mining. 1. THL P, q. Tai, ‘Shon pE. gLl Lerd & Tazlor 24 o, accim. Macy. R H. & Co. pf. q Middie West Ttil. pf. ... .l i, Newport N. & H.. 'R. G. & E. q Procter & Gamble, q........ Gamble, com. stock Jr pe - 7 Pt a Pitts_ & Lake Erie.... ... Public Service Invest. pf.. q Public Service Invest.... T. 8. Rubber pf. q. % Tnited Light & Rye.. q. . .. Tnited Light & Rys., extra Totals for First Half Year An-| Nor. nounced—Other Wall Street Briefs. CHICAGO. July 10.-The demand for hams is the best in recent vears, according to local packers today The public has been buving in very large quantities. Production of pork products, as indicated by receipts of hogs so far this year at twenty lead- ing markets, has been about 30 per cent ahead of the corresponding | period of 1922, FORT WORTH. July 10.—Auto- mobile sales in the néw farm dis- tricts of Texas where old range lands recently have been put under culti- vation have been heavier in the last| month than ever before in history. The largest proportion of sales were made in the section west and north- west of Sweetwater. } .ST. LOUIS. July 10—The Curlee | Clothing ~ Company, with _clothing | { factories here, has withdrawn its en- | tire fall lines from sale, having| booked f{ts entire production. The | | company reported today its volume | of sales this vear had been greater | than ever before, even during the war | period, PHILADELPHIA. July 10.—Shoe | factories today are in the midst of! mid-season inventories. As a result| of this cutting down of production Ex the Associated Press NEW YORK. July 10.—Listings on the New York Stock Exchange f the first six months of this year| totaled $1.581.143.980. an increase of | $317,511,200 over the same period of ' 1922 and $612.317.300 over the first} half of 1921. The record for the first half vear. $1.965.112.850, was made in 1917, when foreign bond listings were especially heavy 1o Nipissing Ohio Cop ... 0. Premier Gold Min. Ray Hercules Inc.. Rex_Cons - She—Oh, dear! T wish we had a bammer to crack this pie crust He—Wait a moment, my love, will buy a sandwich. 1 Spearhead Gold U 1 Stewart Mines covss Min ... ther Dev Mines. Teck Hughes Tono Belmont. Tonopah Dirlde . Z===ARNOLD AND COMPANY Production of companies which ingots in in 1922 made 93.95 per cent of the country’'s total was 3574567 tons, as compared with 3,000 695 in May. In the six months ended June 30 companies reporting to thej American Ircn and Steel Institute {99 produced 22.133,243 tons. indicating a} borm -5t Saat 3o i total production of 13.243 tons, |ar _so%, H an increase of 11§ p ri over th Washington Rwr. & Elec. com.—8 at 6375, | total productior of 1 105 tons for lington Gas Light—5 ai 45ty 10 at L L LR B erchants’ Bank and Trust Co.—10 at 125, AFTER CALL. June by - Washington Stock Exchange. SALES. | Capitai Tractiop 5s—$1.000 at 97, $1,000 at | $1.000 at §7. $500 at 97 1 ashington Ryy. & Elec. gen. 6s—$1,000 at £ ARNOLD AND PANY *ra U 8 Cont mew w i Wenden Copper..... West End Cons .. West Utah EEEE CcO Offer to conservative investors Sales of principal department stores of the country in May averaged 9| (eorgetown Gas 58—81,000 at 87 per cent in excess of a yeRr ago. I Washington Gas Light—10 at 4§, = 19 ar 481 Leading investment bankers and| Washington Kwr. & Elee. bond dealers report that the large in- |12 at 66, B | surance companies are again in the lAnston Monotype—1 at 76. i market for good investment bonds.| Merchants Rank and Trust Co- i These institutions withdrew tempo- i o1 ciomec Flec- & rarily during the market's recent re- | wash. Rwy. & Ei actionary spell. Buying for the ac-|$1.000 at 703 $1.000 at 0%, count of banks is still relatively light. | Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bid Market Flashes at Today’s Close Carnegie Steel subsidiary of United 0 ar 481, | com.—-10 at 66, Witness in Dye Case Hearing Says Research Work Necessary—Cost Buyers Heavily. States Steel, has issued new list with | upward revision on bars and various | | sized shapes. Prices are now in effect | First 10 at 12735, —$1,000 at | $1,000 at 708, | Guaranteed |and independents are expected to The Atlantic Coast Line has author- i | follow. ized expenditures of $26.000.000 for! cars. locomotives and other improve- | ments. | MBER WHEAT 'N SHARP BREAK & Tr'.‘fe‘:z);:;:', e 2;';‘:{::2:"(‘?“85,;{ has reduced refined \ ¥ e 2 Regular American Radiator Com- Arrival of First of Year's Crop in Kok ‘6" | pany dividends were declared today. Chicago Sent Prise to New By the Associated Iress H WILMINGTON, Del., July i dpfense the government's H againet the chemical foundation con- | tinued today to offer testimony de- ! i | Decrease of over 445,000 tons June steel production from that of | May is not abnormal in opinion of ! some steel manufacturers. Shipments | continued at good rate in June and most mills have sufficient orders to | keep going through summer. I .. July 10.—Tur- | to sell $150,000 year, as com- in 1922 10.—The suit Mortgages . onerators and e ! American Tel. & Telgs 'Am. Tel. & Te'. ctl. tr. 5s. ! Am. Tel. & Tel. cony. 8s. ostia & Potomac 3s. piek Secured on improved Real Estate in Washington, D. C. In addition to the se- curity of the Real prop- erty, we guarantee uncon- ditionally the payment of signed to show that at the time of the sale of the seized enemy patents to the foundation many of them were of doubtful value because of the amount | of research work necessary for their successiul by American facturers. Dr. Ernest H. Voiwiler again was NEW YORK, July 10.—Publication of the government report showing the |lowed today by a reduction of 40 cents | Charles C. Carlin, representative in |@ barrel in the price of flour by millers 1919, testified today for the deunse§ This brings the price of the best | At the trial>of Charles W. Morse. his | family patent in that section to $7.20 | i tice Stafford and a jury in Criminal|barrel was made June 1. and millers | Division 1. Mr. Carlin declared that |State frankly that other reductions e cwab. director general of ™'y oy prices also are quoted in Min- the Fleet Corporation in 1918, con- | neapolis and Kansas City, great mill- “best in the country.” Mr. Carlin said | Weather conditions may have a de- | NEW YORK, July 10.—Following is that Mr. Schwab after a careful in- b % | an officlal list of bonds and stocks = i ket today: Charles W. Morse. “When you arr‘ H through with this yard 1 wish you n | ‘ 1 Charles Piez. his assistant, dirgeted ] u ! the granting of an additional loan to | had been expended on the plant. Mr Piez, was contending that not more company Wilson at Keel Laying. versations with officials of the Fleet | Corporation to get them to pay the | ordered by the Macey scale. The rt sult of his conv tions, the witne: BY J. €. ROYLE. it has not been settled yet” The |g s . g fleet officials insisted that the com. | SPuTal JHemeicy 1o The Rte and Morse claimed it was the other | no discomfort whatever to either the way round miners or operators of the anthracite conducted by Attorney Wilton J.| it Lambert of counsel for the defense. | little, even in the doz days, in antiei- | of a possible shortage | the steps taken by Mr. Carlin in the interest of his constituents, the peo- ! v The operators are mighty glad to iocate a = yard at Alexandria. | sell at prevailing prices all the Mr. Carlin told of the laying of the ‘. buy and store in preparation for next dent Woodrow Wilson was present, | oal® i s. The miners and of the presence of the late Widtere. requinciments. x ¢ S, Ma- | nine all the coal they can and receive | ority leader of the Senate, at the | g]) the wages they can at present. Schwab. Mr. Carlin said as early as kes their position just so much January, 1919, he began his efforts | Siionger B ? Virginia company and the Shipping Board. Careful observers found confirma- | tion of these facts as the representa- After introducing about 175 photo- |jantic City completed the grand Sa-! graphs showing the progress on plant | lute to their fencing match, consist- | Attorneys sh Rockwood and Wil- {mands and rejection of the majority | ton J. Lambert, for the defense, sub- [of same, and get down to the sub- fer of $3,500.000 bad been received in As in a real fencing match, ges- 1918 for the steamships Huron, Min- | tyres plaved no small part in the which were listed as assets of the | symers and dealers found one such | United States Steamship Company. a | gesture” in the request of Samuel; set the claim of the government that | erators, that assurance be given that | the Morses were operating on a “shoe- | the mines would be continuously op- | they represented to the Fleet Corpo- | peyond September 1. This. he assert-; ration their ability to carry out the!.d, would allay the apprehension of Corporation yvetoed the acceptance of | On the other side. the request that | the offer of purchase, it wag testified. | the conference make an issue of | tiilligan. at one time general auditor {had ‘“edited the Federal Coal Com. |Special Dispatch to The Star. of-the Noank plant of the Groton | mission report also was visualized building is imminent here because of increases at the plant which. he said. | + Wwas promptly waved aside by | Ware ‘ordered by’ the Fleet Corpora: [ Lire’, was promntly waved aside bY |, gispute between carpenters and Increases by the government were X P submitted to the Fleet Corporation,| In the mesntime coal sales are in-[shall install hollow metal = trim. creasing in practically all the ter-,Members of the building trades coun- On 0SS -, \,nm;u(lmn, hl):e\'er. Mr aiana. oh that n admitted that subsequent: rts from New England show at | % T Potan buving of amthracite is un. |Infirmary bullding and this, it is ex- psecution also brought out that the | usually active for this scason of the ipected. will be followed by with- “i¢et Corporation made pay roll pa year and considerable concern is s !ers from other jobs v the Noank plant. Attorney Turner { This has been increased by the re- | Bricklayers., masons and plasterers not familiar with the terms of the|chusetts legislature which made|will be asked to back up the Build- so-called adjustment contract be- | personal investigation of the an-ling Trades Council. The jurisdiction- Morse concern under which the gov- | dealers state that the public and!carpenters, but they refused to abide erament agreed to pay $400,000 in-|)arge consumers have been fully hyv the decision. $450.000 instead of $300,000 on four | jaying in supplies during the warm other hulls weather, instead of gambling on the prosecution. | during the winter. 1 Retail dealers in Philadelphia are | UNFILLED ORDERS !the dealers. who assert thev cannot Monthly Report. Made Today.! some tanners have shut down for a PATENT PRICE HIGnge( half enough to supply the de- | y P 24 | time. Export inquiries are confined S ing premiums to operators. Some ! i 2 ! dealers have made slight advances ATLANTA. July 10.—The boll| 090 Tons. rapidly in towns themeelves are laving in their i tion of Georgia and poisons placed on jwinter supplies and inauiry for coal | Dy the Associated Press |the plants have been meited off by ‘ diminishing. In the middle west - lalso has prevented thorough cultiva. consumers are gladdening the hearts |Orders of the United States Steel!tion and the Killing out of the grass. Corporation on June 30. made public = from that_ccction if the anthracite supply is short b worth of fowls this o pared with $50.000 worth = miners assert fhelr firm conviction | that there will be no strike. The | {ranged just as sheep are ranged and,sEPTE SOLDIERS OCCUPY MINE | TRZ5Shdiiment 55 Sroving successrar. | epinion behind 1, or was Succes: BATON ROUGE. La., July 10.—More | ful. while the miners believe the - Rice Asscclation this vear. Provincial Police Also on Duty at | eco ding to membors of the organ: Nova Scotia Colliery—New Men deluged with orders for domestic ! inew customers demanding quick de- | |in retail nrices for certain sizes. weevil is working the of the West Virginia bituminous 5 today. totaled 6,336.260 tons. a de-! WHEATLAND. W operators sav no strike begun on than 1.000,000 bags of rice will be, operators cannot take chances on b {and oil producers. { ization today. Growers have heen Employed by Operators. i | 1 manu- | ! Special D'spatch to The Star. {condition of the wheat crop was fol- Congress from Virginia from 1907 to ! on the Pacific coast. three sons and four others before Jus- |& barrel. A reduction of 20 cents a ! et lare in prospect sldered the Virginia ship plant the |ing centers. but it is recognized ! and flour before the scason is ended. | traded in on the New York Curb Mar- &pection of the plant remarked to H would sell it to me.”,and turning to the company. i witness, Mr. Schwab asserted that it ! Z > "-».'-—'{/ appeared that more than $2,000,000 77 > Z Z than 0,000 had been spent by the | The witness told of numerous con- | Morses for the incfrease in_ wages declared. was “talk, talk. talk, and pany owed money to the government | NEW TORK, July 10.—It causes The examination of the witness was | 414, to have the consumer shiver a Mr. Lambert led the witness through | pation next winter ple of Alexandria. to have Morse consu will keel of the first boat, ut which Presi- thracite that onsumers can or en- y o have their men ator Martin of Virginia. then il Mgl insg®etion of the plant by Director | figuring (hat each dollar so earned 10 get an adjustment between the | Both Sldes Makes Gentures. H BiEcNsnudIn Boten tives to the wage conference at At- L5 4 i and ships at the Alexandria shipyard, | ing of formal presentation of de- | mitted evidence showing that an of- | committee stage of negotiations. neapolis, Binghamton and St. Paul.{wage agreement preliminaries. Con- | Morse corporation. This was to off- |p. Warriner. spokesman of the op- string” and did not have assets when | erated even if negotiations continued | eontracis to build ships. The Fleet |the country he next wit was Daniel H.{charges that the Attorney General - ST. LOUIS. July 10.—A tie-up of tron Waork He testifled as to wage | 34 a “gesture” by many. Kach “ges- ton. Vouchers for payment of the | Caul Bisiag Very Heavy: sheet metal workers as which but w not paid. he said ¥ ritory ‘which uses anthracite. Re- | i] have been called off the St. Mar. some of the claims were paid. The idrawal of ten thousand other work- ments cd on estimates submitted | manifested over the mine situation also had the witness admit he was | port of a committee of the Massa-!of the American Federation of Labor een the Fleet Corporation and the|thracite fleld. New England coallal gfiestion was decided against the stead of £300.000 on four hulls and;:eqycated up to the importance nr} Gilligan had been a witness for the | heatner; dnstead of gambine o wniU. S. STEEL REDUCES sizes of anthracite. The number of jlivery has added to the nroblems of | glazed kid is in less demand. and, {mand. In some cases they are offer- | Shows Decrease of 575, | to Canada and England Householders in_the anthracite ifields of the extreme southern sec- appears to be Increasing rather than | NEW YORK. July 10 Unfilled|[3iNS a5 fast as applied. Moisture | perators bv nreparing to use coal crease of 595.090 tons under those at|Key raisers expect On tep of all, both The turkeys here are being summer | the verge of winter ever had public TO PREVENT DISORDERS — sold the Louisiana Farm Bureau losing their market to bituminous Growers’ use signing contracts with tae associa-| NEW ENGLAND BUSINESS Daniel Willard, president of the Balti- i more and Ohio, was optimistic when he tion at the rate of 100 a week. | Elec. Tat G | Potomac Elec. cons. 3 DULL EVEN FOR SUMMER the witness, he testified that with re- spect to one drug patent, the research | work extended over a vear and a half | Special Dispatch to The Star. and cost more than $17.000. In the{ BOSTON, July 10.—Whether the dis- case of another drug patent, he said, | tinct slackening of business in the New six months’ work and an expenditure | England section can be attributed to of $10.000 were necessary before a|the holiday last week, the seasonal satisfactory product was obtained. |midsummer dullness or an underly'ng .De\‘clolllng on cross examination trend in the direction of a slump. is that the witness did not have personal | not entirely clear today. Business cer- knowledge of all of the costs, Special | tainly Is unusually dull, as a canvass Assistant Attorney General Anderson |of machinery, pig iron, finished steel, argued he was not qualified to testify | shoe and textile plants indicates. on that subject and asked that his| Naturally, the average business man testimony as to that be stricken out!is looking for better things in the fall, the however. | | By the Associated Press. i SYDNEY, N. §. July 10.—Five hun- ldarea soldiers and provincial police to- lday occupied No. 2 mine and Stirling mine at Glace bay, where miners are {on strike. There were no disorders. | The infantry went from Sydney on {nine "flat cars and the mounted troops and provincial police went by road. - The steel company announced that an additional 122 men had been em- {ploved at the steel plant TODAY’S COTTON PRICES. Early Losses Recovered During Forenoon Trading. NEW YORK, July 10.—Cotton fu- opened barely steady; July, NE.7 ORLEA July 10.—Orders for lumber at the southern pine mills | decreased 10.2 per cent last week. in comparison with the previous week, according to figures made public to-| day. Production decreased 11 per| cent and shipments 9.4 per cent. At 134 mills 52,214,242 feet were or- dered 63,164.758 feet shipped and A5 Low Mark. By the Associnted Pross. CHICAGO, July 10.—Wheat went a sharp setback in price to- . feet produced. day and for the first time this sea- son the September delivery 'Mw as $1 a bushel. Much of the de- lcline came after announcement of GERMANY FACES FAMINE IN BEER AND TOBACCO| e &rrvat in Chicams or the nrst | the 1923 crop. Brewers and Cigar Shops Threaten| prices closed to Close Rather Than Submit to |lovel of the day. weak at the lowest 2% vesterday's finish. Indications that the spring wheat crop was maturing ahead of threatened damage by black rust. was largely responsible for sending prices downgrade. By Wireless to The Star and Chicago Daily News. Copyright. 1923. BERLIN, July 10.—Germany faces ! Pot. Elec. Pow. g. m. & ref. 7 under- sold as| to 3% under: Potomac Elec. deb. Gs. Loeas Pot.Elec. Pow. &. m. G 1033.. 101 0 W Alex. & Ait. I Alex. & Mt & Elec. ds..... ... & Elec. g. m. 0s... MISCELLANEOUS. Pan.r Mfg. 6s... 9% STOCKS. PUBLIC TTILITY American Tel, & Telga Tractlon.... sailed for Europe today and predicted a continuation of record business for rail- roads until the beginning of winter. He said the business situation in this country was “encouraging.’ Roger Babson brought out another special circular today. Its front page covers in very large type “building costs at the peak,” and concludes that clients | should award no new building contracts the next thirty to sixty days. Anthracite mine owners at Atlantic City agree to abolish twelve-hour day and requirement that umpire of an- thracite board of conciliation render | decision within thirty days. i 1 i | 1 Stanton Bank and Trust Company of Great Falls, Mont., whose presi- dent, G. H. Stanton. was said to ad-1 vance $50.000 on payment due Demp- sey. closed its doors yesterday. Bank is said to be solvent. principal and interest. Denominations in any amount, $100 and upward. Various Maturities 3 to 10 Years These Guaranteed First Mortgages may be bought on the monthly payment plan. Interest at the rate of the mortgage allowed i i Huge Tax Levy. ! | i i Canadian Pacific raliway has callea|| ©n monthly payments. for redemption all outstanding note certificates of its $52,000,000 issue of 6 per cent, dated March 2, 1914, i {tures | ;2&80, Oclo"ber, 23.49; Decfmber, 23.00; ithe prospect of being without both | 522 NEw lNDUSTRIES. ;‘(‘;lr:::;llnn - Seeo jJanuary, 22.60; March, 22.56. July soon i beer and tobacco within the next; | Commerciai i irallied from 26.66 to 26.86, or 6 points |few months. Owners of tobacco shops | District an- Call, Phone or Write for and the hocks of the company con- but a distinct undertone of conserva testimony for the present, stock market, which has come to be |realized. however. that conditions here ipy ;FITTSBURGH MERCHANTS Charges. jabove yesterday's closing quotation, throughout the country have San Francisco District Making Re- | ¥ ducting the research work be pro- |tism is claarly evident. Many attribut. duced. Judge Morris admitted this largely (o the recent slump in the conslderedtmorea highly as indicating rend of business. It i: I C. C. FINDS FREIGHT rexiized however, that conditions here ON CEMENT UNJUST\Kceded the 1920 depression. Railroads in Indiana and Illinois alironds in Tndiana wnd Tllinols| REPQRT FINE BUSINESS Special Dispatch to The Star. Rates on cement shipments moving entirely within Illinois and within Indiana were declared today by the | Interstate Commerce Commission to | be unduly preferential in those states and to discrimination against shippers in Hannibal and St. Louis, Mo. Rail- roads were ordered to file new sched- ules by October 12 carrying rates no greater on interstate shipments than are charged on shipments within the states for equal distances. The commission also found that ce- ment manufacturers at Hannibal and St. Louis, Mo.. and Buffington, Ind. were entitled to slight rate reductions in shipments to Illinois points, while manufacturers at Hannibal also were held to be entitled to similar reduc- tions on shipments to Indiaria points, and the railroads were ordered to make the prescribed changes. The new rates must be based on distance, the commission sald, and be not in excess of 7 cents per hundred pounds for distances of 20 miles, ranging up o a maximum of 213 cents for dis- tances of 700 miles. ‘FAVOR REORGANIZATION. NEW YORK, July 10.—Approval in vrinciple of the plan for-consolidation and recapitalization of New England ailroads iced by directors of the New York, New Haven and Hart- ford reilroad after a meeting today. to producers constitute a PITTSBURGH. July 10.—Advertise- ments by merchants in this section show plainly today that prices have {not been cut nearly so deeply as usual to stimulate summer sales. |This bears out the reports of de- {partment store managers that their | jsummer trade has been both heavy ' i an.ghfltllfndc‘ll?r)'. fl\ s condition reflects the fact th lordere on'the books of the industriai {companies of this territory are keep- ing plants busy and contracts booked | {indicate “steady runs. Plants have jbeen less handicapped by hot weather, {labor supply is betrer and shipping conditions are more favorable than ‘lntldpxled. Bank clearings in the last week have increased on an aver- jage of nearly $1,000,000 a day over {1ast week. JUMP IN CUSTOMS. . Philadelphia Gaining About $1,- 000,000 a Week. Special Dispateh to The Star. PHILADELPHIA, July 10.—Customs | receipts at this port are running ap- proximately $1,000.000 a week above those of 1922 'This s not due to the increase in tariff rates, according to collector of the port, A. Lincoln Ack- er, but to the increased volume of goods, packages entering the port having increased 50 per cent in num- ber over last year. | tober, 22.80; Decempe: | 22.36; March, 22.23. nounced that they will not buy any-: thing smokeable if the new tobacca! tax—amounting to 10,000 per cent of | the pre-war tax—goes into effect. ‘Why should we pay this enormous tax,” they demand, “when the big industrialists like Stinnes manage to get by with paying such small taxes?” Some of the brewery workers have announced that they will stop making beer October 1 if the next 200 per cent tax goes into effect at that time without a commensurate increase in wages. and later months recovered most of their opening losses, with October) selling around 23.49 and December 322.89, or about 2 to 4 points net lower. NEW ORLEANS, July 10.—Cotton futures opened quiet; Ju 26.85; Oc- , 22.50; January, At the end of the first hour of business prices of the new crop months were 21 to 27 points higher than the close of yesterday. October advanced to 23.10, after trad- ing as low as 22.75. Soon after the opening July was off to 26.72. NEW YORK, July 10.—Cotton futures. 11:45 a.m. bids st ly. July, 26.76; October, 23.63; January, 22.80; March, 23.75. NEW ORLEANS, July 10.—Cotton futures, 11 am. bids quiet. July, 26.70; October, 23.06; December, 22.71; January, 22.66; March, 22.50. NEW YORK, July 10.—Cotton fu- tures closed steady: July, 26.90; Oc- tober, 23.77a23.79; December, 23,27a 23.30; January, 32.95; March, 23.91. Spot cotton, quiet; middling; 27.65. BAR SILVER QUOTATIONS. LONDON, July 10.—Bar silver, 31% pence per ounce. Money, 2% per cent. Discount rates—Short bills, 3%a 3% per cent; three months’ bills, 3%a JK T cent. _Ee V YORK. July 1 Bar silv 633%; Mexican dollars, 43%. —_— LEAVES $17,328,000 G. W. Smith Estate Inventory Re- veals Large Assets. ROCKLAND, Me., July 10.—George ‘Warren Smith of Rockport, prominent in New York financial clircles a helf century ago, who dled last December, left an estate valued $17,328,070. according to an inventory filed in the probate court here. It consists entire- 1y of capital stock in the George W. Smith Corporation, whick was formed for the purpose of keeping the fam- ily’s large financial interests intact. ‘The combined Smith family fortune has been estimated at $50,000,000, ac- quired grlnclpllly-throu‘h d ments of mining and rallroad p ties and real estate and stockyar Omaha. | January 1' 625 new markable Record. Special Dispatch to The Star. SAN FRANCISCO, July 10.—Since industries have been established in the San Francisco bay district, with pay rolls totaling $3.371,459 annually. The new enter- prises afford work to over 2.000 em- ployes and Include chemical. food. metal. leather, paper, rubber and tex- tile plants. TODAY'S METAL MARKET. NEW YORK, July 10.—Copper quiat; electrolytic, spot and futures, 1¢%a 14%. Tin easy; spot and nearby, 38.25 a38.37; futures, 38.12. TIron weak; No. 1 northern, 26.50a27.50; No. 2 northern, 26.00227.00; No. 2 southern. 25.00a27.00. Lead steady; spot, 6.10. Zinc quiet. East St. Louis, spot and nearby, 6.05a 6.10. Antimony, spot, 6.80a6.90. CALL MONEY RATES. NEW YORK, July 10.—Call money easier. High, 5%; low, 4%: ruling rate, 51z; closing bid, 41z; offered at 4%. Last loan, 4%, Call loans against acceptances, 43%. Time loans firm; mixed collateral, sixty-ninety days, 5a 5%: four-six months, 5a5';. Prime commercial paper, b, { Liberty .. { Lineoln {U. 8. Saving! { Washington Mechan cs. 111 rmers & M - Federal-American . : i National Rixgs Second Natlonal “Metropolitan. ... TRUST COMPANTY. American Security and Trust... 300 Merchants’ o tional Savings and Trust. Union Trust. . Wash. Loan & Trust on_Savings and Com. Bank.. avings Bank. Bank. Security Sav. Seventh St. Sivs oD FIRE INSURANCE STOCKS. erican_Fire Insurance.... reoran Fire Insurance. Firemen's Fire Insuran National Union Fire In TITLE INSURANCE STOCKS. lymbia Title Inst . 8% Seal Estate Title MRE MISCELLANEOUS STOCKS. bia Graphophone com.... . 13 Columbia _Graphophone 1fd. Do chants s, & Siorage. (. 100 Merchan! Mergenthaler Linotype.......... 147 0ld Duteh Market com......... 0ld Dutch Market pfd. Lanston Monotype Becurity Storage. ‘Waghington Market Yellow Cab .. *Extra dividend, McCrory Stores Corporation sales in June were $1,710.622 vs. $1,213,755 same month year ago. Steel ingot production in June, ac- | cording to American, Iron and Steel { nstitute, placed at 3,748,890 tons, a decrease of 446,910 from May. “w e” —have on hand several choice 77 Loans 1 for $6,000 1 for $5,500 1 for $5,000 1 for $3,250 All bearing 7% interest and run for 3 years. In Jenomina- tions of $250 and up. Chas. D. Sager 924 14th St. N.W. Loan Department very Particulars ARNOLD AND COMPANY Incorporated Capital, $1,000,000 Lstablished 1895 1311 H Street N.W. Phone Main 657-658 GUARANTEED FIRST fORTGAGE INVESTMENTS