Evening Star Newspaper, July 14, 1923, Page 20

FINANCIAL. LOSINGIS FIRM IN STOCK MARKET 3ut 200,000 Shares Change Hands in Two-Hour Ses- sion Today. o Associated Press W YORK, July 14.—Speculative sentiment unquestionably was better in today’s brief session of the stock market, but the upward movement falled to attract outside buying or to provoke fresh buying by professional trade In fact only a languid interest was Aisplayed in the course of prices and the absence of many traders over the week end reduced dealings to nom- inal proportions. A number of stocks improved one to two points with motor accessories, equipments, chemi- cals, tobacco and minor steel issues making the best showing. The closing was firm. Sales approxi- mated 200,000 shares, MARKET IS DRIFTING. Saturday Session Fails to Show Definite Trend. rT p. wibT. The Star. July 14.—Prices on the (ge today simply drifted little tendency either way and the volume of business very The opening W slightly following which some fresh appeared in such leaders as American and Baldwin This buying resulted in half point or so, but it quickly subsided and fn the last half lour the market sagged off again. Interest Shown In B, & O. Baltimore and Ohio, while it gained no ground, attracted more interest than most of the other rails. The stock has done better since the di- rectors’ meeting in the last week of June, when no action was taken on the question of resuming dividends. with with small Tower, buying Studebaker, Locomot ains of Alaska Gold. ... Alaska Juneau Allfed Chem. ... Allied Chem pf. Allis Chalmer: Am Agr Chem. . Am Ag Chm pf.. Am Beet Sugar. Am Bosch...... Am Can. 5 Am Car & Fdy.. Am Chicle Co. .. Am Cotton OIl.. Am Cot Ofl pf Am Ice. .. Am Internat’l Am Linseed. ... Am Locomotive. Am Smelting. Am Snuff. ... Am Steel Fdy Am Sugar..... Am Sugar pf. Am Sumatra.. .. Am Tel & Teleg. Am Tobacco. . Am Tobac (B).. Am Woolen. ..., Am Woolen pf. . | Anaconda Asso D G 1st pf. Atchison. .. Atchison pf..... Atlan Cst Line. . Atlantic Gulf. Atl Gulf pt. Atlas Powder (n Austin Nichols.. Baldwin Loco Balto & Ohio. Barnesdall (A). Batopllas Min. . Beechnut Pack. Beth Steel...... Beth Stl 7% (n). Bklyn R war 2d.. Brown Shoe. . ... Brown Shoe pf.. Burns Bros (A). Burns Bros (B). Butte Copper. .. Butte & Super Calif Pack. .. Calif Petrol. Callahan Zine Canadian Pac. .. Case Plow Wks. Central Leath. . Cent RROfNJ.. Cerro de Pasco. Certain-Teed. .. Chandler Mot. .. Chesap & Ohlo. . Chi & East Il1 . High. Low. Close. g 3% | Southern Ry pf. % 1% 67 108% 40% 14 86% 30% 31% 89% 151% 12% 4% 14% 91% 19% 19 67% 55% 131 88% 61% 102 18% 122% . 144 142% 84 102 39% 83% 9% 8% 118% 11% 9% 53% 1T% . 119% % 1% 67 108% 40% 14% 87 30% 2% 89% 168 13 % 14% 92% 19% 19 67% 86 131 38% 62 102% 18% 122% 144 143 844 102 40% 83% 99% 87% 113% 11% 9% 58% 184 119% 47 1% 67 107% 40% 14 36% 30% 31% 89 151% 12% 4% 14% 1% 19% 19 67% 55% 131 33% 61% 102 18% 122% 144 142% 84 102 39% 83% 994 8T% 113% 1% 935 68% 1% 1ns 46% 12 e 62 45% 89 1T% 48 92% 119% 26% 6 20% 9% 21% 6 148% bl 20% 186 39% 25 50% 60 26 1% 67 107% 40% 14% 37 80% ! 31% 89% 152% 12% 4% 14% 92% 19% 19 67% 56 131 33% 62 102% 18% 122% 144 143 84 102 40% 83% 99% 87% 113% 1% 9% 634 18% 119 46% 12 % 63 46 89 18 27 6 22 6% % 40 25 60 26 THE | spicer Mtg Co St Ol of Calif. .. Stand Ollof N J Sterling Prod. | Stewart-Warne: Strombg Carb. Studebaker. Texas Company. Texas & Pacific. Timken Bearing Tobacco Prod A. ‘Trans Cont Oil.. Union Bag & P. . Union Pacific. Union Pac pt United Ry Inv Utd Ry Inv pf... USCastlPipe.. U S Hoftman M. . U S Indus Alco. . U S Realty. . U S Rubber. U S Steel. . U S Steel pf. Utah Copper. . Utah Securities. Vanadtum Corp. Va-Car Chem. Va-C Chem (B). Vivadou. Wabash. Wabash pf ( Web & Heilbrn. Western Md. 2d. Westhse EI&M. Westhse 1st pf. Wheeling&L E. White Eag Oil White Motor. White Oll. Wilson Co. Willys-Overld Willys-Overl pf. Wright Aero. Youngstn Tube. EVENING STAR' WASHINGTON, D. C, SATURDAY, JULY 14, 1923. Open. High. 66% 14% 42% 18% 37 80% 6 633 130% 2% 10 32 23% 16% 47 92 42 1% . 118 584 14% RBY 14% 51% 33 56 82% 66% 42% 19 37% 80% 6l 633% 130% 2% 10 32 24% 16% 4% 92% 42 91 118 584 145% 33% % 4 16% 8% 2% 134 19% 56 2% 7 26% 4% 1% 22 6% 63% 9% 64 12m... Low. 65% 14% 51 32% 56 81% 64% 102% 42% 18% 37 80% 6 63% 180% 2% 10 82 28% 15% 47 92 42 90% 118 58% 14% 32% ™ 4 16% 8% 27% 134 19% B6% 2% 7 24% 4% 1% 21% 6% €3 9% 63 NEW YORK STOCK EXCHANGE Received by Private Wiro Direct to The Star Office Olosa. 66% 14% 51% 82% 656 81% 65% 102% 2% 19 37% 80% 6% 63% 130% 2% 10 82 24% 15% 4% 92% 42 91 118 58% 145% 33 ™% 4% 16% 8% 27% 18% 19% 56 2% 4 25% 47% 1% 22 6% 63% 9% 634 HOURLY SALES OF STOCKS. 1lam..... 88500 . 185 700 TWO BIG REASONS FOR WHEAT BREAK Armour Grain Head Blames Wild Crop Statements and Politics. IBOND QUOTATIONS SLIGHTLY HIGHER Even French Issues Show Strength in Today’s Brief Session. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 14—Bond prices were higher at the opening today, and although trading was dull as usual on & midsummer Saturday the market was firm. Even French bonds, which might be expected to show some weakness, in view of the Parls cables reporting French dissatistaction with Premler Baldwin's gpeech, opened higher. Libertys sold around last night's high, and there were advices here and there among the high-grade rails and industrials. Instances of the latter were Atchison general ds and Reading general 4s, and such bonds as Pennsylvania 4%s. High Grades Firm. Today's market presented the same characteristics as those of the past three or four days. There has been firmness all the week in all high- grade securities. All the United States government issues are up on the week. Treasury buying has been especlally evident in the third 43s, but there has been accumulation of all the issues, and the Treasury 4%s of 1952 have been within a point of | par. Then, too, there is always the possibility of purchases for thc ac- count of Great Britain having been a market factor, but naturally every effort is made to cover up this buying 1t will only be profitable to the Brit- ish government as long as libertys are obtainable under par. Perhaps the most notable feature of the week has been the way the foreign bonds held up in the face of apparently adverse news side. The result is that practically all the net changes are advance: the greatest of which is shown by the French cities {ssues. Irench 8s and French 748 are also both higher on the week, liat still two or three points ON NEW YOR | A K BONDS 5o scmiver Received by Private Wire Direct to The Star Office. (Sales are in $1,000.) UNITED STATES BONDS. (Fractions represent thirty-seconds. Example: 101-1 means 1011-32.) les. Hig) 27 100-12 98-14 98-15 98-15 29 4 19 193 Lib 1st 4%s. . Lib 2d 4%s Lib 3d 4%s...1181 Lib 4th 4%s.. 125 98-15 US4%s1962. 125 99-30 FOREIGN. Sales. High. 102 91% 100% 96% 100% 108% 109% 874 82% 96% 101 100% 101% 100 998 102% 101% 99% 92% 109 95% 90% 96 95% 90 9Tia 94 93 85 92% T 79 79 54 33 100% 110 97% 91% 73 %% 106% 101 93 95% 99% 69 104% 116% 112% 102 Argentine 7s. Austria 7s ctfs. Belgium 7%s. . Belgium 68 Belgium 8s Bergen 8s. Bern 8s Bolivia 8s. Brazil 7s Brazil 8s Brazil 7)'s Canada 55 1926 . Canada 58 1929 Canada 5s 1931. Canada 6s 1952 Chile 88 1926 Chile 85 1941 Cuba5¥swi..... Czechoslovakia 8s. Denmark 8 Denmark 6s. Dutch ET5%s Dutch East I 65" Dutch East I 6s'62. Framerican 7%s. . French Govt 8s French Govt 74, Haiti 6sctfs...... Holland-Amer 6s Japanese 1st 43,5 Jergen U M 6s'47 Lyons 6s. Marseille: Mexico bs. . Mexico ds....... Netherlands 6s. . rway 8s Norway 6s. .. Orlent Dev deb 6s. Paris-Ly's-Med Prague Tis 't 48 Queensland 7s. Queensland 6s. ... Rio de Jan 85 1946. Rio Gr Do Sul $s. Sao Paulo.State,8s. Serbs Crotes Slo 8s Sweden 6; s Swiss Confed 8s Ud Kingm 5i;s Ud Kingm 5%s '3 Low. 100-12 98-18 98-13 98-13 98-30 98-13 99-30 100 87 101 102 109 95 90 93 85 92 79 54 33 110 97 101 93 95 90% 95% 95% 96% 934 Close. 100-12 9 -18 9818 98-18 99 98-13 99-30 Low. Close. 101% 101% 91% 9% 100 95% 96% 100% 100% 108% 108% 109% 109% 87 52% B2% 96% 96% 101 100% 100% 101% 101% 99% 100 98% 98% 102 101% 101% 99% 99% 92% 92% 109 95 90% 96 95% 90 96% 94 93 1% TE% 100% 100% 110 97% 91% 91% 2% 2% To% 6% 106% 106Y% 101 83 95% 99% 99% 68% 63% 104% 1043 115% 115% 112% 112% 101% 102 RAILROADS. Bales. High. .23 8 5 81 85% 95% 79% 101% 80 83% 74 86 9% 96% 88% B3u 28% 8514 994 8% 49 581 56% 64% 8 62% 3% 108% 176 114 101 102% 86 Low. Close. 88% 88% 81 81 85% 85% 95% 95% 79% 9% 101% 101% 9% 79% 83% 83% 8% 73% 86 86 % 79% 96% 86% 88 88 83% 83% 28% 28% 85% 5% 99% 99% 8% T8% 49 49 58% 56% 64% ki3 62% 3% 108% 76 113% 101 102% 86 84% 85% 5% 46% 49 Al 112% 107% 99% % B4% 9% 59% 99% 101% 80% 61 86% 36% 89% 29 6% 834 102% 89% 58% 23y 34 75 76% 94% 50% RO BRONNRP IR HEN G 1RO e Ches & Ohlo cv bs. Ches & O gn 4145 Chi & Alton 335 Chi B&Q gn 45 '53. Chi B&Q Ist rf 6s. Chi& ETll gn 58 Chl Great West 4 CM & Puget Sd 4s. Chi M&S P rf 4155, Chi M&St P cv 5s. Chi M&St P 45 °25., ChiM&S Pev 4145, IM&St P 4s'34. . Chi&N W 6145, ... ChiRI& Pacrf 45, Chi Un Sta 6153, CCC&StLrf6sA. . Cuba RR 75, CibaRR bs. Del & Hd 1st rf 4s. Det United 43s. .. Erie 18t con 4s Erie gen 4s. Erie conv 45 A. Erle conv 4s D. Grand Trunk 7s. Gr North gen 7s. . Gr North gen 5145, GreenB& W db B, Havana ERL&P 5s Hud & Man ref 5s. . Hud & Man aj 55 Il Cent ref 55 '55. . 11l Central 5l%s Int Rap Tran 5, .o Int Rap Tr 58 stpd. Int Rap Tran 7s. .. Int & G Nor aj 6s. . !Int & G Nor 15t 63, |Towa Cent rt 4s. Kansas City § 35, Kansas City S 5s. . Lehigh Valley 6s. Louis & N uni 4s Manhat Ry cn 4s. . | Market St'en 5s. IM & St L 1st rf 4. . IMK&T1st4s. ... MK&TprinbsA. MK&T6sC...... 1 K & T adj 55 © - 56% 64% 8 62% 734 108% 76 114 85 85% 57% 46% 49 51% 2% 108 994% % 84y 79% 60% 99% 101% 61% 61 88 87% 920 29 66% 8314 102% 89% 58% 93% 34 5 76% 941 501 - wmaanmnIanS 58% | b FINANCIAL. Grain, Produce and Liyt_e Stock LOCAL WHOLESALE MARKET. Saturday. morning trading was not brisk. Dealers expressed themselves as belng satisfied with the week’s market, supplies of most foodstufs ‘being ample to meet all demands. Slight fluctuations in prices were noted during the week. ~Prices for good beef remained high, spring chickens were cheaper and fowls slightly higher. Vegetable prices cheaper. the price of corn dropping about 50 per cent. Tomatoes con- tinued scarce and high. but lower ppices are anticipated early the com- ing week. Eggs—Strictly fresh, selected, can- dled, per dozen, 27a28; average receipts, 25; southern, 24, Live poultry—Roosters, per 1b. 14; per b, 25; spring chickens, keats, young, each, 40; .28 Dressed ' poultry — Fresh - killed spring chickens, per lb.. 45a35; win- ter chickens, per Ib, 35; hens, per 30, roosters, per 1b., 20; tur- per 1b., 35a40; keats, young. 70a80. Live stock—Calves, choice, per Ib., 10; medium, per Ib., 9%; thin, per !Ib. 6a7. Lambs, spring, per Ib., 12a13 {live plgs, 3.00a5.00 each’ live hogs. per . 8%. Green fruits—-Apples, new, per bas- Ket, 1.00a2.50. California oranges, per crate, 0a7.00; Florida, 5.50a7.00. Lemons, per box, 6.00a750. Grape- fruit, 4.00a4.50. Blackberries, per qt., 10a18. Peaches, 1.0023.00. Cantaloupes, standard : pony. 1.15a2.%5: fats, . ack raspherries, 10a 223% red raspberries, 25a35. Vege New potatoes. per bbl., No. 1, 7 No. 2, 2.00a3.00. North | Carolina yams, Lettuce, per {crate, nearby New. York, 50a 1.75. ' Romaine lettuce, per crate, 1.00a 2.00. Cabbage, nearby, bbl. Eggplant, per crate, matoes, 32 bu, basket, nearby Beans, 3.00a5.00 per bbl. Pea: per basket. Peppers, per crate, Carolina, 1.50a2.50. Kale, per bbl Spinach, per bbl., 4.00a5.00. Cel- 'y per _crate, New York, 8.00a9.00. Squash, 75a1.00. North Carolina lima beans, 2.50a5.00 per basket. were somewhat 2.00a5.00, 5.0043.00 h GRAIN AND PROVISIONS, BALTIMORE, Md. July 14 clal).—Potatoes, new, barrel, 6.50; bushel, 1.00a2.25. a dozen, 1.5024.00. 1.50. Lima_beans, bushel, Beets, hundred. 5.00a7.00. hundred, 6.00a12.00. Car! 4.0046.00. Celery, dozen. dozen, 10a30. Cucumbe (Spe- B WITHDRAWAL OF FUNDS TUESDAY | Regional Banks to Meet Call of U. S. Treasury—Local Financial Notes. Approximately $19,952,300 will be withdrawn from the banks of the country on Tuesday next, when insti- tutiong will meet the call of the Sec- retary of the Treusury to pay into their reglonal members 20 per cent of the amount on deposit arising from the purchase of Treasury notes of series “B," 1927, dated May 15, 1923 Upon payment of the call in ques- tion banks of the country will have pald back to the Treasury 79 per cent of the original amount, which was $282,052,900 of cash subscriptions and $286,669,900 of exchanges. To date seven drafts have been made on the original loan. In addition to what remains of the May 15 issue, the banks of the cour try have the entire amount of tt June 15 allotment, which is for $189.- 833,600, of which $38,344,000 was for account of changes. Joins District National Bank. Thomas P. Kane, national bank ex- aminer for Maryland and the District of Columbia, has been added to the official family of the District Na- tional Bank in the capacity of vic. president and director. He will t up his new duties actively on August 1, it was said. Mr. Kane is a son of the late [Thomas P. Kane, deputy controller {of currency, and, needless to say, his knowledge of modern banking is thorough in every respect. Prior to his duties with the Treasury Depart ment. he was for four years con- nected with the American Security and Trust Company. He received his commission as examiner in 1921. Mr. Kane is at present on leave of absence from the Treasury Depart- ment. Bankers Draw Up Recommendations. The two-day session of the eco- nomic policy commission of the American Bankers' Association ended vesterday in New York, after con- deration of several outstanding eco. Chl & E Il pf. {Chi Mil & St P Chi Mil &St P pt. Chi & Northwn. Chi Pneu Tool. . ChiRI& Pac... ChiStPM &O.. Chile Copper-.... Chino Copper. .. Cluett Peabody. Colo & South Ist Columbla Gas. . Columbla Graph Columbn Carbon Com Solv (A). .. Cons Gas of ) Cons Textile Cont Can pf. Corn Products. . Cosden & Co . Crucible Steel. .. Cuban-Am Sug. Cuba Cane Sug.. Cuba Cane S pf.. Cuban Dom pf.. De Beers. . Del & Hudson. D Lack & West. Douglas Corpn.. Dupont (E1). Elec Stor Bat. Erle 1st pf. Famous Players Fifith Ave Bus. . Fisher B of O pt Fisk Rubber.... Fleishman. ‘ Foundation Co. . Freeport Texas. 48 18% 32 0% 9% 24% 61 25% 19 61% 50 2% 1 47 30 60% % 104% 120% 39% 65 26% 10% 41% 88 23% 105 113% 1314 48 18 324 0% 9% 24% 61 26% 19 61% 50 32% 1 47 32 60% TH 1043 120% 894 65 26% 10% 41% 38% 23% 105 113% 13% 17 55% 18% 2% % 97 8% 43% 69% 11% 27% 176 13% 49% 19 10 65% 28% 72 30% 23% 5% 5% 821, 12% 2% 21% 78 227% 12 81 36 Mo Pacific 6s. ... ... Montrl Tm 1st 5s. . NOTex &M in bs. Y Cent deb 6s. . 1.10. ' Eggplants, crate. 2.00a3.50. Lettuce, bushel,” 50a1.00. Onions, shel, bushel, 2.50 1.75a2 3 Tomatoes. basket, 3.00a3.50; green. 1.25. Apples. 23.00; bushel, 25a1.00: Blackberries, quart, 10 antaloupes, crate, 75a3.5 pound. 10a18. ' Currants, quart, 15a18. Huckleberries, quart, 15a20] Peaches. crate, 1.00a2.50. Pine- apples. crate, 3.00a4.50. Plums, basket 5a10. Raspberries, pint, 8a10. Water- melons, each, 20a60. Settling Prices on Grain. Wheat—No. 2 red winter, 1.11; No. 2 red winter, garlick 1.043%. i Sales—Bag lots of nearby at 75, 85, 90, 93, 95, 98, 99, 1.00 and 1.01 per bushel. rgoes on grade No. 2 red winter, garlicky, 1.04; No. 3 at 1.01; No. 4 at 1.00; No. & ai Corn—Cob, new, 4.75 contract, spot, 923 per bushel; corn, 94%; track corn, vellow. No. or_better, 1.04 and 1.05 per bushel. Sales—Ncne. Vhite, No. below the high of a month ago. Domentic Insuex Spotty. There has been greater irregularity among the domestic issues, but most of the cases in which declines have occurred were those where there was some special condition involved. The greatest loss was sustained by Ir ternational Mercantile Marine 6s, which sold down to a new low re ord almost 7 points below the pr_h p of a week ago. The inactive New Haven issues are off 4 or 5 points on the week, while the active fssues are 2 to 4 points up. The decline | came the quickest in the bonds where | the speculative activity had been the greatest, with the result that these were the first to rally. Among issues to sell higher Hud- n and Manhattan incomes were ominent, with a gain of 'I(‘l\‘l'(‘??\‘ 31 and 4 points, responding to th improved financial condition of the company testified to by an initiall dividend on the preferred stock. It is curlous that the refunding 58, the investment issue, responded so little. Few New Offerings. New offerings for the week were | the smallest for the vear to date. aggregating only §21626.000. The largest issue and the most important , p ol (9 LA was the Cleveland Union Terminal | paiiShe uehs & Company 58. These were very well | =mP 5 taken, sales being made on the ex- | Goodrich 6%s. . change a point above the offering |Goodyear 8s1931. HEce Goodyear 8s 1941. The municipal bond market had|pumble O&R 5145, been a little weaker of 1ate and In- | 1ingle el 1ot oa vestment bankers have been advising | 1Lin0Is ell 1st Gs. municipalities to do short-term | I1diana SteelSs. .. financing with the idea of puttingInt Mer Marine s. out lower coupon rate, long-term |IntPaper1st5sA. bonds later when the market condip |K C P & Lt 5s A '52 tions are more favorable. | Liggett & Myrs 5s. Lorillard (P) 78 Manati Sug sf 7% Midvale Steel 58 { Morris&Co 1st 4128 at Tube 1st §s. Y Edsn 1st 6%8.. G EL H&P b8 Y Tel 6s'41.. Y Tel 6s°49. Y Teldtés. .. { N Am Edison 6s | Northwst B Tel 7s. |Otis Steel Tis. Pacific Gas & E15 Puc T & T 5352 PhilaCoref6sA.. Public Service 6s. Punta Alegre 7s Sharo H 8 Sinclair Ol 7s {Sin Crude Oil 515 | Sin Crude Oil 6s Baltimore and Ohio could have easily paid a dividend on its earnings of the first half ye 925 nomic questions. Recommendations regarding the federal reserve sy tem, the gold standard and sound money were sent to the administra- tive committee with the request + .t a public statement be issued soon the association's views on 921 88% 5% 104 95% 55 58% 34 60 £3 MISCELLANEOUS. Am Agr Chem Ties 12 Am Chainsf6s'33. 1 Am SmIt&R 1st 5s. 14 Am SmIt&R 6s. 10 Am Sugar Ref 6s.. 4 AmT& T v 6s. 5 AmT& Tcltrbs.. 18 AmT& Tcltrds.. 2 Anaconda cv db 3. 43 Anaconda 1st 6s... 18 Armour & Co 414s. Atlantic Refin 5s. Larnsdall s §5 Bell Tel Pa bs rc Seth Steel 68 '53. Steel pm 5s. . Steel s £ 65 n Edison 7s D. Bush T Bldg 58 '60. Central Leather 53 Jerro de Pasco 8. . hile Copper 6s. .. ommonwth P 85 Con Coal Md 1st 5s. Cuban-Am Sug $s. Cuba Cane cv d 8s. Dery (DG) Ts.. Det Edison ref s6 97 9% 94 94 89% 89% 101% 101% 101% 102% 102% 102% 115% 115% 115% YT 97 YT 92 Y% €2% 100 99% 100 96% 96% 96% 83 83 98% 8% 964 97 97% 9% 90% 90% 88 584 9TH 9T% 107 107 £9% 90 98% 98% 12014 120% 99% 99% 85 85 6% 6% 107% 107% o1 01 17 77 103% 103% 105% 106 107% 108 103% 103% 9% 914 99% 99y 101'5 101% By the Associated Pross. CHICAGO, July 14.—George E. Marey, president of the Armour Grain Com- , sald regarding the wheat situa- however, was reserv- o the final payment of uired by the terms of ,000,000 loan and also to pay £5.000,000 new eguipment This has so improved the financial position that if earnings were to continue as they are there would be considerabla ground for expecting 2 on dividends at the a Squa 24% 61 26% 19 6133 50 82% 1 47 30 60% 7% 104% 120% 39% 654 26% 10% ag 38 23% . 105 118% 18% 117% 55 18% 2% T 97 8% 43% 69% 11% 27 .. 174 .14 49% 19 10% 65% 28% 2% 30 28% 5% 5% 321 12% the $35 in cash for Melvin A. Traylor, president of the First Trust and Savings Bank, Chi- cago, and chairman of the commis- sion, when asked about general busi- ss conditions, pointed out that western business men did not feel £0 pessimistic as those in the east, because of better than average crop prospects, no larger inventories, no great volume of advance buying and a large volume of orders on hand.s For these reasons Mr. Traylor gave as the opinion of western business men that the situation looked to be favorable for the remainder of the year. Bank Clearings Increased. Only a small increase in clearings over those of a_year ago is shown this week, the $7,029,739,000 reported to Dun's Review by twenty cities of the United States being 1.2 per cent in excess of the amount for the earlier period. There is a gain of 25.2 per cent, however, in com- parison with the total for the same week of 1921. The cities outside of ew York report clearings of $2,795.- 000, which is 14.6 per cent more than the ageregate for a year ago. and increases appear at all of the centers included in the statement. At New York city, on the other hand, the current week's total of $4,234,000.- 000 is 6 per cent less than that off the corresponding perlod of 1922 Waek’s Business Fallures. ‘With returns for one more business ay included, failures in the United States this week not unnaturally show an increase over last week's total. The number reported this week is 291, or 50 more than the number last week, which was broken by a holiday. A year ago, however, there were 455 defaults, or 164 more than in _the present week. The number of failures involving $5,000 or more of liabilities in each instance this week is 147, which rep- resents 50.5 per cent of all defaults. This is considerably higher than last week's ratio of 44 per cent, but is slightly below the ratio of 56 per cent a year ago, when 255 failures had an indebtedness of $5,000 or more in each case. New Bond Issue. S. W. Straus &, Co. announce that permanent 6 per cent first mort- gage serial coupon gold bonds of the ‘Westinghouse Building, and the 6% per cent Montreal Insurance Ex- - *“The United States has only a rea- Cherries sonable carryover of wheat and the bal- ance of the world nothing extraordi- nary, especially at present values. In my opinion the sick wheat market is caused by two things—first, 100 many extravagant statements being made by people regarding available supplies and crops, people who make these state- ments without explaining the whole situation, namely, that there are hun- dreds of millions of people who must use wheat, and that it is the cheapest of any food Such statements have a tendency to disturb confidence in values. “fThe other reason is bringing politic into the practical handling of the enor- mous five thousand million bushels or over of grain ralsed in the United States. To a very great extent, the political attack made against exchanges has frightened speculation out of the market. Former conditions would find speculative investment buyers buying grain futures on a large scale and very little thought glven to any great surplus at_these price “It is too bad conditions are as they are, as they are a factor in causing wheat to seil way below revenue. May- be the large consumption at these low prices will cause a different situation and later might cause a better price situation. e TODAY’S COTTON PRICES. Sharp Advances Follow Irregular Opening. NEW YORK, July 14.—Yesterday's sharp advances were followed by ir- regular fluctuations in the cotton market during today’s early trading. There was further covering and scat- tered buying on the drought in the southwest, but realizing was pro- moted by the talk that mill curtail- ment in Fall River was to be put on an organized basis. The market opened barely steady at advances of 5 to 10 points on near months but 5 to 20 points lower on December and later deliveries, and after selling at 24.55 on the call, October soon eased to 24.46, or four points net it Stock Trunsfer. tood that an important ock has recently taken Brothers A. The de- nsaction, by sfer has been accom- ot ready to be given | 1 probably be announc- . common _did a radius of a half the two hours. Locomotive after drawing 20 fell back to 119, was taken in the mar- hostile comments of upon the Baldwin Pennsyl gen 414 Pennsyl gold 7s. .. Pere Mrq 1st 45 '56. spot, spot, transfer ¢ place in I tails of the which tt plished out. Thev ed on not get point Taldwin ae to Rapid Tran 6s w . Reading gen s RIATKk & L 41;s LIM&S 4s'29. StL&SFplisA.. |StL&SFprinss. StL& SFinc 6s StL&SFEsD.. StL & SFadj 6s StL&SFplésC.. Seab'd A Liref 45. . jSeab'd A Laaj 6s.. Seab'd A L con 6s. . Sou Pacific cv 4s u Pacific ref 4. , u Pacific clt 4s. . Southern Ry Ist b5 Southern Ry gn 4s. Southern Ry 634 114% 115% | Third Ave adj 58 98 98 | Union Pac 1st 4s 95% 95% | Union Paccv 4s. .. 4 100~ 100% | Union Paccv 6s. .. 76% 76% | Wabash 1st 5s. 82% 82% | Wabash 2d 5s. 90% 90% | Western Md 45 96% 96% o 116 118 TAL SALES (Par Value): 96% 93%| 1la:m.. 2194000 12 5 sou 98 noon 4516000 T84 T8% SHORT-TERM SECURITIES. (Quotations furnjshed by Redmond & Co.) per bushel: No. 2 bank 2, 51% and 52 per and 51 per bushel 0 per bushel; No. . western export, T4%. —Receipts, 12 tons; market for at a range of 19.00 to 23.00 per ton. New nearby hay ar- riving mostly in heated condition i selling strictly on merit at slightly lower prices than for old hay. Straw—No. 1 tangled rve. 15.00a 16.00; No. 1 wheat, 12.50a13.00; No. 1 oat, nominal, 14.00a15.00. Exchanges Hold Well. : by the morn- was that the h were quite as far their attitude toward n. But if there was fresh pessimism on this score, it 0w cither in the exchanges Du Pont de tock market, in con- the Luropean O'IUIN‘.lk as ‘1: 1 calculations, naturally too! the forelgn exchange | Gen Asphalt. ‘hen exchapge rates did | Gen Electric llowing 'the unfavor- | Gen Motors »m Paris, there was | Goodyear pf. 1sion for the stock |Granby Consol.. urbed. Gray & Davis. Gt Northern pt.. Great Nor Ore. .. Gulf St Steel Househ'd Prod. . Hudson Motors. Ind Oil & Gas. .. Indian Refining. Inland Stee! Interb Rap T In Ag Chemical. In Cogbust E. Int Harvester... Int M Marine pf. Int Nickel.... Int Nickel pf. Intl Paper. Invincible Of Island Ofl. . Kansas & Guif.. TODAY'S CHICAGO PRICES. CHICAGO, July 14.—Favorable crop prospects in the northwest, together with downturns in Liverpool quota- tions, caused wheat prices to decline here today during the early dealings. Around 99 cents for September delivery however, buying increased and the m: ket rallied. = Bulls pointed out that al- though this year's wheat crop in the United States is at present officially es- timated to be 41,000,000 bushels less {than last vear, the two leading surplus states, North Dakota and Kansas, to- gether have 75,000,000 bushels less than last year. Opeing prices, which ranged from 3% to 7 lower, with September, 99 10 9%, and December, 1.01% to 1. were followed by a moderate uptu and then some wavering. Dry hot weather in the southwest gave relative firmness to the corn market and indirectly to oats. After opening un- changed to % lower, September 76 to 761 prices scored gains, December delivery in particular. Oats’ started unchanged to % higher, September, 34%. sagged a little, and then made a small advance all around. Provisions were steady in line with its cue move not go down comment f usly no oc nge to be dis 2 WAR EVERY 1 1-2 YEARS. 28% 28% 2% 70 30% 30 23% 23% 5% 6% 5% 54 321% 321 12% 12% 2% 2% 21% 21% 78 78 22% 22% 121 12% 81 81 86 a6 10% 104 10% L] % “ % T %I % 98% 987 109% 109% 97% 974 105% 105% Market Flashes United States Has Fought 104 Con- at Today’s Close flicts in Its Career. From the Toledo Blade. It would ask too much of any stu- dent of American history to recite the names of the 104 wars with which this nation has had to deal as one of the principals. For a time in our career they came so fast that they interfered with one another. Some were over before the new them reached the public. Yet of them, while they lasted, were brisk and deadly. In the period between the war be- tween the states and the one with Germany there were twenty-seven occasions when the army had to go Aluminum Co. of Amer. 105% 1063 | Aluminum Co. of Amer. 931 934 | Aerican Cotton O s 93% 93% | Ameri 107% 107% | American Tel 91 91% | Anaconda C 90% 90% 90% 904 100% 100% 83% 84% 107% 107% 98% 98% 96% 96% 96% 963 96's 9674 to latest information the operations and net o International Cement Company, earnings for the second quarter were fully a third larger than in the first three months of the r. For the first half year Inter- onal Cement i8 expected to show years' entire dividend require- on both the preferred and stocks were nearly covered. concerning profits of 1l Tel. of Can. dian Northern 5gs 1934, Argentine Rwy. s 1 Leather Ox 1925, . C.. C. & 8t. L, 6s i Chi., R. I. & Pac. 518 1 Chicago Tel. 5s 1923. Du Pont 7%s 1031 Pederal Sugar Ref. 'ds 1033, Goodyear T. & R. 8s 1931 22% 12% 81 36 » % - se recently in Con- tinent 11 r of the n dividend from $3 to $4 thera has been fresh buy- stock because of the earn- - dividend outlook. Con- “an’s earnings are running rate simply be- : greater volume of sales and the lower costs of materials. In waell informed quarters it is thought probable that stockholders will re- Kansas City S... Kayser (Jullus) Kelly-Spr Tire. . Kennecott. . Keystone Tire Lehigh Valley Lorillard (P)... Mackay Cos pf Mack Trucks ceive dividends at more than the $4 rate. CLEARING HOUSE REPORT. NEW YORK, July 14—The actual condition of clearing house banks and trust companies for the week shows an excess in reserve of 480. This is an increase of 8.250. ANOTHER CUT IN FLOUR. BALTIMORE, July 14 (Special).-— A reduction of 25 cents per barrel in all grades of western flour was an- ! nounced at the chamber of commerve today. NEW YORK DAIRY PRICES. NEW YORK, July 14—Butter, teady: receipts, 13,670 tubs. Eggs, irregular; receipts, 2 crates. s firm; receipts 7 pounds. State, whole milk, flats, fresh, aver- age run 24%a?2, — It Was His Medicine. Prom the American Leglon Weekly. He had long been suspected of hootlegging, and now that the con- stable had caught him with a quart of the senuine, things looked dark in- P “Well, boy.” announced the official somewhat sympathetically, for infor- mally he was a humane and thirsty soul, “now that I've caught ve, ve'll have to take your medicine. “Oh, thank "you officer,” cried the culprit, bursting into tears of grati. tude. “It certainly isn’t every police- man who has intelligence enough to recognize when a man has this sort of stuff for medicinal purposes.” Kansas and Salt Water. From the New York Herald. They like to say that Kansas is not affected by problems of mlt water. XKansag is supposed to be the summit of all “isolation,” for instance. But Dr. 8. J. Crumbine, who has just come from nineteen yvears' service as state health officer of Kansas to serve with the American Child Health Associa- tion of New York, sa; it's not true. “Kansas,” he says, “was the first state in the Union to pass a law for the proper shipment of oysters. Its Jaw was responsible for the develop- ment of the seal shipped container. ‘We may not have one-piece bathing suit problems on the ocean beaches out there, but we know a lot about sterilizing public swimming pools.” At Her Command. From the Londap Mail. “So your husband has given up smoking. That needs a pretty strong will, doesn’t 1t?" ‘Well, I've got onel _ Magma Copper.. Mallinson & Co. Man El inv guar Manhat Shirt. Marland Oil. Maxwell (A) Maxwell (B) Mclntyre For. Mex Seaboard. Mex Seabd ctfs. Miaml Copper. Middle St O Minn & StL (n). Mo Pacific. . Mo Pacific pf. ... Montg'y Ward. . Moon Motors. Mother Lode Nat Biscuit.... Nat Conduit. Nevada Copper. N Or Tex & Mex. N Y Air Brake N Y Central. ... NYNH&Hartfd. Nor & West pt North Amer. North Pacific. | onio Bay & Blw. Orpheum Circulf Otis Steel Pac Gas & Elec.. Pacific Oil...... Packard Motor. Pan-Am Pete. .. Pan-Am P (B).. Pennsylvania... Penn Seabd People's Gas. ... Pere Marquette. Philadelphia Co Philip Morris Phillips Pete. Pierce-Arrow. | Pierce OI1. Pitts Coal p: Pitts & W Va. Postum Cereal.. Pressed Stl Car. Produc & Re Pub Servic Punta Alegre. .. Rapld Tran Sec. 174 311 83y 164 65% 2% 29% 24% 32% 42% 39 39% 11% 17 12% 12 24 T 4% 11% 81 20% 23% 8% 40% % 12 87% 31 17% 31% 83% 844 4% 58% 154 65% 72% 80 25 323 2% 393 39% 11% 17 13 12 24 T% 4% 1% 31 20% 28% 8% 0% % 12 88% 31 17% 31% 83% 38% 4% 58% 154 65 T2% 29% 24% 821 42% 38% 3933 11% 17 12% 12 24 % 4% 11% 31 20% 23 8% 40% % 12 87% 31 17% 31% 3% 33% 4% 58% 154 65 2% 80 258 321 42% 38% 394 11% 17 18 12 24 k%) 4% 11% 31 20% 23 8% 40% % 12 88% 31 98% ~ 985%™ 98% T~ 98% 12 12% 124 12% 75 20 66% 8% 17 7 83% 13% 61% 8% 44 3 87% 43 43% 36% 45% 49% 9% 7% 20% % 20 7% 20% 66% 66% 66% 5% 17 8% 77 3% 17 8% 77 3% 17 6% 7 84% 33% 34% 13% 13% 13% 61% 614 61% 57% 5T 5% 44 3% 44 3 4“4 3% 874 874 8T% 43 43 43 43% 434 43% 13 26% 8 86% 45% 49% 10 Rap Tran Secpf 33% 33% Ray Con Copper Reading........ Reading 1st pf.. Reading 2d pf. . Replogle Steel.. Rep Ir & Steel. . Reynolds Spr... Rey Tobac (B).. St L Southw: . Schulte Stores. . Sears Roebuck.. Shell Union.... Sinclair Oil..... Sinclair pf... Sloss-Shetfield. . Skelly Oll. .. South Pacific.... Southern RW¥. . 11% 72 47 48 14% 44% 22 62%% 20% 9% 7 164% 23% 89 42 17% 86% 33, 1% 72 47 48 16% 44% 22 624 29% 9% 1% 16% 24 89 42 17% 86% 8% 18 26 29 43% 49 62 35% 45% 49% 9% 3% 11% 1% 47 48 18 26% il 3 20 8~ 99 43% 50 63 35% 45% 49% 9% 33% 11% 1% 47 48 16% 445 21% 624 29% 93% 1% 16% 24 89 42 17% 8674 8% lower. Cotton futures 27.23 to 27. December, 23.44; March, W futures opened October, 23. uary, 23.64; 079, June last year. 23.45; December, Spot cotton quiet: middling, closed quiet; July steady; : December, arch, 23.54. Cotton on hand June 30 was: In consuming establishments, 345,066 bales of lint and 145,285 bales of linters, compared with 1,621,290 of lint and 159,604 of linters on May 31 this year and 1,330,903 of lint and 151,402 of linters on June 30 last year. in public storage and at compresses, 1.232,888 bales of lint and 42,014 bales of linters, compared with 1,579,606 of lint and 47,583 of linters on May 31 this year. and 1,953,478 of lint and 76,398 of linters on June 30 last year. imports during June totaled 13,367 bales, compared with 23,593 this year and 12,662 in June last year. Exports during June totaled 214,851 bales, Including 1,902 bales.of linters, compared with 160,368, including 2,818 of linters in May this year, and 49 including 12,768 of linters, October, 24.17 to e 23.68 to 23.71; January, 41. ORLEANS, 1 23.11; March, 23.00a23.03. July 28.00. July, 24.20; —Cotton in 26.93; Jan- May in NEW ORLEANS, July 14.—Cotton futures closed barely steady at net dacline_of 34 to 42 points. range—July, 26.80a26.82; October, 23.38a 23.17a23.21; Close January, TODAY’S WOOL MARKET. BOSTON, July 14 wool market remained dull today. (Special).—The It took bargain lots to stir the interest of buyers. interest in is There apparently is more learning what the available supply than in actual buy- ing. Dealers, however, felt that the low mark had been reached and that prices shortly will be higher. TALK OF BIG MERGER. ST. PAUL, July 14 (Speclal).—It is understood here that negotiations are urchase of the Wisconsin Minnesota Light and Power in progress for Company by the Power Company. volve about $3,000,000. the Northern States The deal would in- ROOFERS TO GET $12 PER DAY. ST. LOUIS, July 14 (Special).—The slate roofers’ union has won its fight for an increase of wages from $10 to $12 a day. ‘WAGE BOOST GRANTED. NEW YORK, July of 5 per cent in wi the Interborough Rapi vesterday: 14.—An_increase s offered by Transit Com- pany as a compromise to the de- mands of their 14,000 employes for a 10 per cent increase was accepted The original demand was for a 25 per cent increase, but it was reduced to 10 per cent. DISCOUNT RATE RAISED. ZURICH, July 14. tional Bank today raised the discount rate from 3 to 4 per cent, ‘The Swiss Na- and the Lombard rate, or rate on loans on stock exchange securities was raised from 4 1Q 5 per centy ‘fights known as the Ute war. into active service. You will think of the war with Spain as one, the Philippine finsurrection as _another and that target practice at Vera Cruz and along the border as a third, But | older persons will recall the Modoc ! campaign and _troubles with the] Sioux, which persisted to as late as| 1891. Then there was that series of lively same vear was the bloody argument with the Nez Perces. Did you ever hear of the Tin Horn war? There was such a one. In the winter fol- lowing the Santiago battle the Chip- pewa Indians put up a fair imitation of rebellion and soldiers who went out against them faced not only the prospect of sudden death by bullet, but also the slower death by freez- 178 ccording to the War Department records there has been a call for military activities for every year and a half of the country’s career. We are far from being as mild and un- warlike ‘as the pacificists make us out to be. The United States fights when she has to—and there Is_ev dence enough that under the pres- sure of circumstances the nation has not lacked the aggressiveness to take the fight where the chances for being damaged are thickest. USING PHONE IN TANGIER. One Calls for Subscriber by Name and Not Number. From the Cleveland Plain Dealer. It 18 said that Tangier, Morocco, s one of the first cities outside the United States in which telephones Were used, the service having been established there more than forty Vears ago. Practically the same sys- {em, however, is stiil in ‘use. The circuits are all operated on a one- Wire basis with the earth as the re- conductor. B hough nominally each of the 600 subscribers has & number, the person Mmaking the call usually asks for his party directly by name. At the pres- ent time the installation of a newi system is under way, consisting of the latest type of common battery, switchboard and instrument: That Was Easy. From the Strix, Stockholm. Captain (in civilian clothes)—Come on, fellow, open the gate. Sentry opens gate; captain passes. Captain—Why the d—1 do you let civillans through here? Sentry—I knew you were an officer! Captain—How the d—I did you know that? Sentry—By yofir manners, sir! Safety in a Nutshell. From the Boston Tranacript. A fifteen-year-old girl of Detroit has written these slogans for auto- ta: " Drive right and more pedestrians will be left.” ‘Watch your “Taking the o better than ‘to dust returneth.’ “S{x feet have awaited many a driyer who wouldn't giva an fachy’ tep on it " In the J {many, Sin Pipe Line 58 So Por Rico Sug 7 Steel & Tube 7s. Tenn Elec Pow 68 Tide Wat Oll 6%s.. Toledo Edn 1st 7s. U S Rub 1st 1 g U S Rubber 7%s. USSteelsf5s.... Utah Pow & Lt bs. . Vertientes Sugar V.-Car Chem 7s. Va-CarC . 7T4#8w. Warner Sugar 7 West Union 61¢s. Wickwire Spen 7s. Wilson & Co 1st 6s. Wilson&C ev 7%:s. Wilson & Co cv 6s. 10 1 €5 110 01 1 00 1 00 = 19 69 €110 B 00 =31k O e ot k1 €9 o2 et 109 G300 = 65 O 0 01 1 B O 00 11 3 0 09 00 e 830 10 1 e 00 1m0 10 €1 IS 10 =3 0 10 08 O 854 86% 9915 9914 % 103 “103% 944 943 & 1024 1024 106% 106% 85% 86% 105% 105% 102% 102% £6% B6% 96 79 61 103 96 79 61% 103 1083 1081y 92 23 7% 9T 95% 95% ——— FOREIGN EXCHANGE. By the Associated Press, 5 841 844 84 NEW YORK, July 14.—Foreign ex- changes firme States dollars): = Great quotations (in United Britain, de- mand, 4.60%; cables, 4.609-16; sixty- day bills on banks, demand. mand, . demand, .0488; demand, .000004%; Holland, cables, .3924; Norway. cables, 4.57% 048835 000004 % ; demand, demand, .1628; France, 881 cables, 5.89: Italy, de- 2816 ; cables, .0429; Belgium, : Ger- cables, 3921 Sweden, demand, .2652; Denmark, de- mand, J1737; demand, 000008 1029914 ; Brazil, 9717-16. .1750; Spain, demand, . .0265; Argentine, demand, Switzerland, Poland, Czechoslovakia, demand. .1040; 1438; —_— FOREIGN EXCHANGE. July 14, 1923, demand, Greece, demand, demand, .3460; Montreal,] Am Tel & Tel (Quotations furnished by W. B. Hibbs & Co.) Nominal gola value. Zurich, franc Athens, drachma Madrid, peseta. Vienna, crown. Warsaw. Copenhagen, Christiania, Stockholm, " crown. Blissful Ignorance. From the Indianapolis News. Sellin today. checks A tall, smiling negro, who said he 1lived in Chicago, stood before Judge Wilmeth in city court a few days ago to answer to a charage of vagrancy. n what street do you live? Judge Wilmeth asked. “I just cant remember the name of that street, your honor,” replied the prisoner. ‘Well, does it run east and west or north and south? queried the judge. “Well, sir, Im not positive which way it does T on direction: “You should be in the man discharaged. . I never was no good vaudeville,” Judge Wilmeth said, when he ordered ust where is that town, judge?” asked the negro. “Seems like I dont remember I ever heard of that place betores Great Northern Hocking Valley 6¢ Humble 01! 5i4s 1932 ras City Term nnecott Copper Libby, MeNeil & Libby M. SLP. & 8. 8. M. Morris & Co Pens. R_K. . Paul Union Depot Sears, Roebick & Co Standard 0il of Cal Biaw 16 7s 1923 . 7w 1931 Tidewater 011 = Tnion Tank Caj U. 8. Rubber Western Union_ 6% i Westinghouse E. & M. 7s 193] “Called Augnst 1, 1923, _— U. 8. TREASURY CERTIFICATES, (Quotations furnished by Redmond & Co.) ~———Noon.——, Bid. Ofter. 99 31.32 100 1:32 100 132 100 o9 aplttmrtr— s September 148 Sehtember 48 December 13, 10: 434s March 15, 1924 3%s June 15, 1924. : Sias September 15, 1024, 4%s March_ 13, i1, X 1 March 15, 1927, 414y December 15, 1927 ol BOSTON STOCK MARKET. BOSTON, July 14.—Following i ;fi]cz:d-;_\-‘: (ighest. lowest and ehgsing s for the most activ prices f e stocks dealt Low 1 i21% 10% 147 107% 4 Alloues . o e Arlzona Com Bingham Milis Boston & Maine Davis. Daily Eastern § 8 Franklin .. Island Creek . Mass Gas .. Mayflower 0°C . North Butte 01a Dominion . Pacific ills Swift Inter . Trinity Waldorf Winone 50 Wolverine 7 ™ pEERER L L T CHICAGO STOCK MARKET. CHICAGO, July 14.-—~Following is a report of today's saies, high, low and closing quotations at the Chicago Stock Exchange : Hll%. 250 Armour of 1 prd 110 Commonwealth 10 Gill Mfg Low. Close. i o 150 I N 2615 2615 20 260 o 02 215 Un Carbide & Carb 54% 120 Yellow Mfg B. . 260 165 Yellow Taxi 0214 ‘Total sales, 12.000 shares. —— i The largest smokable cigar ever made was presented to an American olitician. It was twenty-eight inches n length and woighed more than five pounds, . - hog values. CHICAGO LIVE STOCK MARKET. CHICAGO, July 14 (United States Department of Agriculture).—Cattle —Recelipts, 1,000 head; compared week ago beef steers and yvearlings gen- erally eteady; extreme top matured steers, 11.50; numerous strings, 11.00 a11.40; best long yearlings, 11.35; she stock, unevenly 35 to 75 higher; spots more on beef heifers, bulls, 50 to 1.00 higher; veal calves losing most early advance; largely 25 higher; stockers and feeders, strong to 25 higher; week's bulk prices follow: Beef steers, 9.35a10.65; stockers and feed- ers, 5.75a7.25; beef cows and heifers, 5.75a9.15; canners and cutters, 2.75a 5 4.00; veal calves. 10.75a11.75. Sheep—Receipts, 2.000 head; today's recefpts mostly_ direct: for weck, western run,.133 cars; largest of season; compared week ago, desira- ble fat lambs and culls, 25 to 50 cents lower; sheep, steady to strong; clos- ing, top we lambs, 1 tives, 14.75; mostiy medium and handyweight 5 6.25; light-weight, upward to : heavies, 3 western, feeding 2. primed’ natives, Hog! 12,000 head: un- even: opened steady to 10 cents lower: closing. mostly 10 to 25 cents lower: bulk. 160 to 240 pound averages, 7. a7.55; bulk, 260 to 350 pound butchers, 7.00a7.35; packing sows, mostly 5.90 a6.10; bulk, desirable pig: estimated holdover, 10,00 light, packing sows, : packing vs, rough, & pigs, 6.25a7.00. 1 DAIRY PRODUCTS. BALTIMORE, Md., July 14 (Special). —Live poultry, spring chickens, pound, 30a45; Leghorns, 27a35; old hens, 24a27; Leghorns, 22a23: old roosters, 15a16; ducks, 14a20; spring ducks, 22a28; pigeons, pair, 25a30. Eggs (loss off)—Native and nearby firsts, dozen, 25; southern, 23a24. Butter—Creamery, good to fancy, pound, 37a4l; prints, 41a43; nearby creamery. 35a38; ladles, 34a35; rolls, 30a32; _store-packed, 29a30; dairy prints, 30a32. $340,000 WAGE INCREASE. CHICAGO, July 14.—Wage increases totaling $340,000 annually have been granted by the Delaware, Lacka- wanna and Western railroad, accord- ing to word received by the United States Railroad Labor Board. The Lackawanna granted increases of 4 cents an hour to coach cleaners, 2 cents an hour to mechanics and help- ers and 1 cent an hour for certain apprentices. About 5,500 employes are affected. BIG JUMP IN ORDERS. NEW YORK, July 14.—Orders re- ceived by the General Electric Com- pany for the first six months of, the current year totaled $164,263,755, as compared swith $114,219,248 in the corresponding period last year, Presi- dent Qerard Swope announced yester- day. This §s an Increase of 44 per cent, e change Building issue are now ready for exchange for interim certificates outstanding. Wasn't Taking Advice. From the Philadelphia Public Ledger. Adolph Lewisohn, the well known financier, said at a dinner party In New York: “Europe wants our money, but not our advice. Our money is welcome. Not so our advice. t's like the chap who consulted old Doc Pillsbury. “‘How many cigars do you smoke a day? asked the old doc. 'About five.’ said the chap. ‘Cut 'em out. Do you booze? ‘Er—yes. ‘Cut it out. . lobster? sure do." ut 'em all out. You'll be aston- ished at the improvement in your condition. : “But here the chap got up to go. As he opened the door old Doc Pillsbury said to him, gently 2 “‘Hold on, friend. You haven't paid me for my advice.' “‘I ain't takin' it said the chap, passing out.” Just Playful. From Harper's Magazine. A motorist and his wite traveling over a familiar road came to a sizn pointing to Bangor. The reversed ar- row pointed to Monroe. . “That sign Is exactly reversed said the driver to his wife. “Bangor is the other way.” “I guess the sign is more apt to be right than vou, Fred,” answered his wife, with conjugal ‘emphasis. “Go right in and inquire at that farm- hous Fred obeyed, and the farmer an- swered, “Yes, that sign ought to be over on this side of the road, but when we tried to set It we struck a ledge, S0 we stuck her over there.” “But," remonstrated Fred, “it makes the directions the wrong way around.” “I know it does,” said the farmer.} “but anybody knows enough to git to Bangor.” Eat ple or pastry, e Had Worked Them All. From the Boston Transcript. “Dear me, John, this is dreadful, with the hot weather on us and no money to go anywhere. Haven't you got any country relatives you can scare up? “That’s the trouble. I've got already.” Made a Difference. From the Voo Doo, Socrates lifted his cup. “What's this stuff?” he asked ‘Hemlock!” replied the cupbearer. “Oh!" said Socrates, “that's all right —1I thought it was one of those sub- stitutes for beer.” It Quickened Interest. From the Kansas City Times. Mamma—The bathing year are more disgusting than e Daughter—Oh, mamma, reall ‘Which shop have you seeg them I've scared all 4 dresses thig