Evening Star Newspaper, September 12, 1923, Page 27

e T SHPS ON PACFL " RUSHED TO LT Japanese Disaster. Partially Responsible for Enormous Increase in Traffic. BY J. €. ROYLE. Special Dispatch to The Star. NEW YORK, September 12.—Proba- bility that America's trade with Japan will reach the tremendous total of $1,500,000,000 withtn the next year has resulteq in a’ revival of Pacific coast shipping, which is outrivaling that of the war days of 1918. San Trancisco shippingmen today fore- cast “that the trade possibilities ©opened up, following the Japanese diaster, would advance shipping at that port to a point which it would require twenty years of normal devel- opment to reach. Orders are in the market for the Chartering of twenty-five large freighters to transport the first move- ment of American lumber to Japan anq inquiries have been recelved, which will necessitate a survey of ali ships in Pacifie coast ports, .Rice and rain organizations are combing the ater fronts for tonnage. ©ne new concern, which will oper- ate a line of clipper ships to Guam and Japan, already has been organ- ized ‘and others are béing’ planned. All trans-pacific steamship: lines are holding off on contracts involving available cargo space pending further davelopements. Heavy Ocean Traflic Seen. Executives of shipplng concérns expressed the opinion today that, not only would Japan be in. the market for great supplies of provisions, grain, lumber, steel products and building materials for the next two years, but that this demand would clear out stocks in other oriental countries and thus present additional trade opportunities for American firms. Among the commodities which probably will be most quickly affect: ed, in addition to foodstuffs an bullding materials, are leather, of} and oil products, print paper and electrical equipment. Shipping Facllities Taxed. A survey of the San Franclsco water front shows every available fa- cllity -taxed to capacity. Six large vessels, with a capacity of 50,000 tons of grain, are now proceeding to Port- Jand, Ore. Three of these are of Dutch registry, two Japanese and only one American. A leading Japaness inter- est at Portland is reported to be frantically buying - white elab - or western white wheat at $112 a bushel, -tidewater, in an effort to fill the amount it was caught short when the news of the disaster became pub- lic, Intercoastal shipping also will be materially assisted by recent devel- jopments. For some months the pre- Ponderance of freight through the Panama canal has been moving east- ward, due to the heavy shipments of California oil to Atlantic coast ter- .minals, and vessels have been making the west-bound trip. with partly empty holds. The new demand for goods to the orient is calculated to balance this inequality. Predicts Huge Rall Trafie. “We look for a record-breaking . traffic during the fall months of 1923, sald- President Budd of the Great Northern railroad, in reviewing the rail freight situation. “It seems al- together likely that this year may roll up the largest total tonnage ever ~handled by the Great Northern in any one year.” L. M. Betts, Washington manager of the car service section of the Amer- ican Railway Association, told south- castern shippers at Atlanta today that railroad transportation was facing its greatest movement. “The present un- precedented movement,” he added, “is confined to no one commodity nor to any particular section. The inescapa- ble conclusion is'that an era of splen- business is here.” Campoign to Unionise Packing Plants. Announcement that the Foodstuff Industrial Workers' Union wi'l fmme- diately begin an intensive organiza- tion campaign among empioyes of the big packing houses is not ex- pected to have any perceptible effect on the production or cost of packing house products.. At the Thomas E. Wilson & Co. plant at Chicago it was stated today that the reasons given by James E. Carroll, chief organizer of the union, for the move were er- roneous and that the movement would defeat itself. The larger packers say that unless nexpected trouble develops the }muvn-msnl will not bc noticed by them in any way. Officials of these companies insist ‘that the embloyes in general are satisfied with the “as sembly ‘plan of representation” now effect, and no desertions are ex- ted from the assembly plan to the v_maovement. COTTON UP $400,000,000 IN VALUE IN SIX WEEKS New York Exchange's Facilities Severely Taxed by Great Demand. NEW YORK, Septémber 12.—The cilities of the New York Cotton Exchange have been taxed to the ut- most because of the great demand for contracts for future dellvery ex- tending until next July. Clerks on the exchange have been werking nights in an effoft to keep the books | up to date. Improved business conditions and the Washington crop estimate of 10,- 750,000 bales have caused what amounts to almost a_stampede among Eotton users both here and Abroad. Six weeks ago cotton for October daliver; sold at 20% cents on the New York Cotton Exchange and closed yesterday around 28 cents. This advance is equal to more than $35 a bale and is equivalent to an in- creased return to the cotton planters in the south of about $400,000,000, | RIVER BOOM SEEN. Self-Propelled Barge Causes Joy on Uppér Mississippi. : Spectal Dispatch to The §tar. ST. PAUL, September 12.—The racent arrival here of a sélf-propelled. wbbrge with .a small cargo from St. ‘Touis is being hailed by business men here as a real resumption 6f waters {borne freight traffic on the upper Mississippi. Previous attempts were unsuccessful because of Sand bars near heré. The River Transit Com- pany announced four more similar. parges will be put into operation.. ~ NEW HAVEN EARNS SURPLUS. NEW YORK, September 12.—The New York, New Haven and Hartford rallroad. had a surplus after oharges of approximately $150,000 in August. ith the exception of April's surplus of $187,000, this was the largest since March, 1922, The ‘August surplus re- duced ' the ~company's deficit after charges for: the year to $4,144,000. pdward J. Fearsol road, says that the “loss of anthracite frafic this month -will be. reflected {n earnings., but it -lt. a’ question yhether other trafc will nqt offset it . e —_— PIGGEST BANK LIFTS RATE. CHIGAGO, September 12.—~The Cbn- unzgtcll and Cominercial Natipnal Bank of Chicago, the largest institu- tion west of New York, yesterday gave Tecognition to general business im- provement by increasing its annual ‘Gividend from 14 to 16 per cent. The diréctors declared a guarterly dlvi- dend of 4 per cent, payable October 1, fo stockholders of record September Under the new dividend rate the ~geockbolders will recelve $1,000,000, _ CFINANCIAL. FEA Ehld, 57 — NEW YORK CURB MARKET - Received by Private Wire BY WILLIAM F. HEFFERMAN. i NEW YORK, September 12.—The movement of stocks on the crub ex- c¢hange today was toward lower lev- els, in sympathy with the selling on the stock exchange. Nws pertain- ing to individual companies wi abundant and was reflected in special movehients in the stocks concerned. Oil shares came In for a good deal of - selling, especlally those of the Standafd group. The run-up of four points in Prairie Oil and Gas was not sustained, the stock losing more than this' following reports that another mid-continent company had reduced crude quotation 20 cents. Standard of Indian, which had closed at 53%, changed hands most of the time be- low 53. Prairie Pipe Line was offered treely,: reacting well below 100. In"'the independent group such NEW YORK, Sa‘ntember 12.—Fol- lowing is an official list of bonds and stocks traded in,on the New York Curb Market today: BONDS. High. . 108y 94 Close. 106% 94 97% 100% 10234 102 1) Am T & T 68 '24.. 100 Am’ Thread Co Os.. 1024 Atiaconda 68 10244 Anglo-Am OIl 7is.. 1023 Ar & Co of Del Atin 89% Amoc §i Hardw 6is 04 ALG & WISS0s 47% Beaverboard 8 ... 8% Belgo Can Paper s 97 HethSteel 1029 can Ry Bq Cit Serv 75 © 4 Con Bal Gias E 98% Cous Gas Dalto 8s A 102% Cons Gas Balto 7s... 107 Cons Textiles 8. 97 Deere & Co T% Detroit’ City Ga Detroit Edison 6x Davies Williams Federal Sugar 6s ‘33 ¥ Fisher Tody 6s '26. 99% Fisher Body 6x ' 27.. 98% Galena Sig Ofl 7s.. 103% Gen_ Asphalt 8s ... 10134 Grand Trank 8iis.. 104% Gult Ol of Pa tm.. 93% Tnterb B T 8 '22... M3% Kennecott Cop-Ts. . 10 Libby MeN & I, 7s.. 99% Manitoba Power Morris & Co T%s National Leather New Orl Fub Ser 3s Pub Serv of N Shawsheen Solvey et S0NY | United 0il Union Pac 5s w i Argentina 78 '23.... King of Nether 6s.. 2 Mex Govt s % Mex Govt Bs '94.... Rep Argen 6s w i.. Hep of Peru 8u..... 2 Russ Govt ofs Biks 185 Govt B%s efs. 10 Swiss Govt 5k 6 Swiss Govt 5% 11U S of Mex 4s.... . 36 Sales in STANDARD OIL 1SSUES. units. 40 100 10 200 40 143 10 Buckeye P L... Continent Oil ne; Cumberlend P L. Humble 0 & R el 1 P L. Imp Oil o Ind P L. N Y Tran Prairie Ol & Prairle P L.. : South Penn Of ... 8 0 Ind. 8 0 Kans S 0 Kentucky 900 8 O N Y new 3 871% 1400 Vacuum Ofl new .. 45% 45% Sales INDEPENDENT OIL STOCKS. in hundreds. 3 Cities Service ... 4 Cities Service pfd. 1 Cit Serv pfa B. 1 Cit Serv B cfe $3,000 Cit Serv C ser 10 Creole Synd 380 Engineers Pet 4 (iien Rock Ofl S Guif Ol of Pa. 10 Hudson 0il o 2 Humphreys Ol ... 30 Keystone Ranger.. .03 18 Mex OfF .. . 10 Mex Pamico 2 Mount Prod 2 Motual Oil- ¥ 3 Omar OIl & Gas 1 Peer Ol Corp 5 Penn Beaver Oi 15 Penock Oil 18 Roy Can Off 3 Balt Ck Cons pe—————aa Washington Stock Exchange. SALES. Gas 6s—$1,000 at 100%. R ton iy, & Eiec. pfd.—10 at 70%, 1.5 at 71,5 at 71, 10 at 71, 3 at 713! asbington Gus Light—10 at 49, 2 at 49 Lanston Monotype—10 at 7 AFTER CALL. National Bank rights—2 at 93, 3 at 93, 5 at 93 933, 3 a¥ 93%, 3 at 16834, 5 at 9834, 2 at 93%. Money—Call loaus, 5 #nd 8 per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITIES, x Bia. American ‘Tel. & Telga. ‘American Tel. & Telga. 4: 92 American Tel. & Telga. Am. Tel. % Tel. etl. tr. 55 & Tel. etl. tr. 36. 4 3835 o8 133 131% 2% ington Gas 8s. Washingion Rwy. & Elec. 45, Wash. Rwy. & Elec. g. . 68. MISCELLANEOUS, Paper Mfg. 65. Dl Bty B (long) PUBLIC UTILITY. can_Tel. & Telg Washington, No n\kR& Wi Federal-American Liberty Lincoln - . Natlonal American. Security V tal Trus rmehants' Ban and’ Trust. SAVINGS BANK, Commerce and Savings. shington. ity Bavioge & Com. president of the | U TITLE INSURANCE. MISCELLANEOUS. 4 Graptophone com. C, Paper pfd. s rehants’ Transfer & Storage. 100 pthaler Linotype. < 108 ket com. S Direct to The Star Office stocks as Southern Statés,’ Pésnoek and Royal Canadlan were exceéptions and reached siightly Wbetter. prices Reports were that Canadian interests were buying into the stogk. .. Profit ll‘ ng brought about m sions from the top figures reac| B a number of spéculative 'f Koflu& ekt el Yol K, A ark an ord shal . = American Tobacco came off WMY er pressure. . P was. and Dubilier .was un: ackpot, advanced more than ten points. however, it declined and theseatter held around 50. Following the pyro- technics in this stock. it was an nounced that trading had beén sus pended until further notice. - - hio Copper came in-for attention and reached a new high for the pres- ent movement. 12 n roduced 331,000 kot o AR 15 cents pounds in July at a cost of a pound. Actlvity in the minin 0! o AR was bid up rapldly from a ain manifest. Goldi el .ot 560 to 63. After reaching this ‘?‘u'rs 2 Balt Ck mew Prod.. 8 Sapulpa Refin 7 Seabeard Oil 128 Son States Oil. INDUSTRIALS. ;o a as & El ptd. . G & El new w i 88 Co of Del ptd 91 & Co...... 103 t-Am Tob Cou... 24 ricAm Tob Co reg 3% D Chic Nipple b € Colo Power & Li.. Dubilier C & Radie 1 Durant Metor 9 East Steel .. Fayardo Sugar Federal Telegraph. 3 Gliette 8 R 7 Glen Alden (oal B Goodrear Tite 5 Grittith, D W. 2 Heyden ‘Chem 2 1mp Tobae O 1 Iatl Cont Rub. 1 MeCrory Stores 2 . 1 MeCrory Stores new &% 1 MeCrory Btoces w i 97 10 Mesabl Tron . 5 3 Midyale Co . 2 Mon'wear_Tac 3 Nat Sup Co of Del. 2 Park Tilford . 15 Radio Corp . 5 Radio Corp pf 17 Readin it 0% Un Pft Shar new. Un Retaii Candy .. Un Ret Can Cdrs sh Yel Taxi Corp N ¥ 120 MINING, Alaska_Brit-Col . Am Lead Zine ¥m 4% Arizona Globe Cop .11 Belcher Extens w02 Boston Mont Corp Coutineatal Mises Cons Cop M t ¢ new Cons Nev-Utah Cortes Silver Emma_Silver Fortuna Mines afield Developmt ldfield Deep 3lin . Goldrield Florence.. .63 107 Goldfield Jackpot. .. 110 Gold Itd ‘An Mines 20 Gold State . 30 Hardshell Min 170 Hili Top Nevas Homestake Ext Independence Lead. Lone Star 260 40 120 190 108 MeNamara . National Tin 5 New Dominion Cop. New York Porcup North Butte . 3 evada . 5ESEERLARE8ER Ea &* g . Ohio Cop ... Ray Hercuies Inc Ked Hill Fior. Sundstorm® Kendall. . il Qu Mines Corp.. 8il King Div M Stand Si Lead. Spearhead Gold 1 Teek Hughes ‘Towo Cash Boy. ‘Lonopah Extens . ited Eastern ited Verde Ext U 8 Con vew w | Unity Gold .. 2 Wenden Copper . West End bt 1 Yok Alas tru 7 Yukon Gold FOUR BROKERS ARE UNDER INDICTMENT Membeis of 8. 8. Ruskay Firm, Which Failed for $5,000,000 in 1920. ZRER-R3a8.8 By the Associated Press, NEW YORK, September 12.—Bur- rill Ruskay, Eugens George Proctor and Joseph Shelby, members of the stock brokerage firm of 8. 8. Ruskay & Co., which falled early in_ 1920 for $5,000,000, tfoday were indicted for trading ‘against customers’ orders, Five indfctments were handed up against each of them. ——— WOOL TRADE UNCERTAIN. Special Dispatch to The Btar. BOSTON, September 12.—Fair ac- tivity prevalled today in the local wool market, but the future is uneer- tain, depending on the attitude of the manufacturers. Reduction in working days and forces. reported by several mills do not indicate an immédiate prospect of any great demand. Wool in the hands of western growers has been largely cleaned up and i§ now:, concentrated in central - shipping points and pools. Receipts yesterday were 2,714 bags of domestic ‘and’ 131 bales of foreign wool. gy SUGAR PRICES HIGHER. NEW YORK, September 13— There was a further advance of 1-16 cent in raw sugar prices .toddy., Cubas are now quoted at 4 15 cents, cost and freight, equal to.6 for centrifugal. Business was lesg| active with sales of 25,000 hags of: Cubas for September shipment. The raw sugar futures market Was) irregular during the early trading, but " after showing slight decitiés prices rallled on covering and . com- mission house buying, prompted . by. the klv.'x.nheyl;1 advance n .the spot arke ces at mi to 7 points higher, %Y Were.3, BOSTON STOCK MARKET. - BOSTON, Septem P is o list of today s Bighasi, Tomowin :leon!llt np;(:;e:: for the most active stocks Am Tel & Tel . ag . ‘Arcadian Cons . Boston & Albany ton & Maine Boston-Elevated Calu & Hecl B2 REE X 58 88422,55 R Employes May Buy Shares in " New Issue—Japan Orders > Nails—Other Briefs. By the Associatéd Fress. : NEW YORK, September 13— Stookholders - of the Standard Ofl Company of New York, meeting to- day, approved & proposal to increase the ‘authorized capital stock fromi $226,000,000 to $235,000,000 and au- thorized the Hirectors to.issue all or any part of the increase to employ The stockholders also approved of incréasing the number of directors trom nine to ' eleven. ' The "Délawhre, Lackawanna and ‘Western Rallroad Company reports a surplus of $3,274.935 after. taxes and (! charges for the quarter ending June 20, as compared with $868,517 for the| corresponding pefriod last ye: The Penn Seaboard Steel Corpora- tion earned met profit of $221,908 be- fore interest during first.six months of thio year, as compared with deficit of about $225,000 during first. six nighths of 1922. he National Grocer Company bas inéreaged its quarterly dividend from 2 to 3 per cent. The ourrent dividend {s-payable October 1 to stock of rec- ord, September 320. The American Steel and Wire Com- pany has received an order for 25,000 kolft of wire nalls for Japanese roliel. Fublio offering was made today of $6,000,000 5% per cent. two-year notes of the tate of North Carclina at’100%, to yield 5.10 per cent. The - dreenbut, | X WITH FIVE RAILROADS Norfolk and Western to Receive " $7,285,000—Government Also Gets Payments. Final settlements with flve rail- roads under the war time guaranties were announced today by Director Davigs. . Under the arrangement the gov- ernment pays the Norfolk and West- erni $7,265,000° and the "Adirondack and St, Detroit, Ford’ Lawrénce $3,600, while the Toledo. and Ironton, Henry property, pays the government °{$1.250,000; the St. Paul Union Depot Company pays. $68.794, and the Ocilla Southern Company pays $4,029, EX DIVIDEND TABLE. Septemter 14— ms Express Co.. q...... At S and Dye pf.. Ametican Can Co., of. @ tof, a. American *Roliing. pf. Aunconda Copper. q Bangor & Aroostock, pf. Eethiehem: Steel 7% pf., q. Hethiehem Steel Brooklya Union G . & Susq. R Cambria Iron Co. Cuyamel Fruit, @ Coea Coig Co g Cona. -Gas of Balf". a. Con#, Gas bf Balt., pf.. by, Cons.” Gas_of Bait. pf., bq Gramp & Sone Ship and’ 8 Crucible_Steel pf.. Eleet. Storage B Slect. Stosage Bndicost Johaso. icott Johnson pf.. ‘@ Fam. Plavers’ Lasky, q. Fleischmamn Co.. 4....- Flelschmann . tra. Qeneral American Tank Car, pf., ae & Elect. Geni. eum.. pf. Gen' Baking C Guif States Steel, q. Gillf' Ktates Steel 6% pf. Culf States Steel 7% pf., q Hetcules Powder Co., a. Inland, Steel, pf. Inter. hoe, Tuter. Shoe, Jones & Latighl lebigh Valler B, R “Léhigh Vain¥ R.‘R. pt. Owen Botte, q n Bottle pf., 5"21»« Pet.. jerce Arrow Me Pure Ol 5% Purs Ol Pare-01l 8% pr. Ry. Bteel Spring. q Rep. Tron & Steel pi. exira Rep. Tron eel PL., Q... Rodwla_Insurance Go., q. Eears Rosbuck & Co. pf. Shell Tnton Ofl, q South Porto Rico Sugar pr., q Std. Oil of Kty.. q. Twin City Rap. Trans. pf. mited Light & Rys. Part nited States Gypsum, q United_States Gypsum DPf.. West Elect Co.. Df., q. West Penn Co’, G...... Yorugstown Sheet’ & Tubs, Youngstown Sheet & Tabe pf. /i ciapapicntofie DIVIDENDS. (Pr. Rate. Payable. | | P 33 R B q pf., extra Py r. A B Am/ Peb. Intertype C, 1st. pf.Q. Oet. Greenwich Bank ,.:Q. 8% Oet. o Valiey Ob %00 oc 1 Theorice Go. D150 Sept. 20 Y. Transportation.Q. 50c Oct. 15 % Q. T5e Oct.. 1_Sept. 2l 'Y. State Rys. pf.Q.$1.25 Oct. 1 Sept.21 Northiwest Yeast -.Q. 8% Sept.15 Sept.12 Philip Dédge Corp. 3 United Feuit Co. Waoner MaRéabie ‘Castings Class A..62%e Oct. Bept. 21 oct. 3 1 Sept.14 ‘.. FORBEIGK EXCHANGE. . Qotatjotis’ furatshed by W. B. Hibbs & O9. A o 13 i AP it TROT TS Nominal: Selling clocks value. today. . 4.8665 07‘ ki 0480 “0439; Rt 0183 ol Brusels, franc.... Berlin, mark . lira . Zurich, franc Athens, drachma Madrid, peseta By the Associated Press. NEW YORK: ;lgt(embi:u hange #agy: (quotation: Forted stace dollars): Great Britain, ,-4.54 % ; .oables, 4.55; sixty-day bills -on_banks,-4.52%. France, de- nd, .0578; cables, .0578%. . Italy, de. 'mand, .0440;.cables, .04403%. Belgium, demand, ,0479; cables, .047935. Ge many, _demand; 006000015 ‘cables, 100000001%.. Holland, demand, .3935 cal B e P;q el dle)l:lnd. ‘.‘ulv ., L, . Denmark, e RO Swits 3 » 125 in | department of e C. WEDNESDAY, SEPTENBER COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ST. LOUIS, September 12.—Reports from the cotton districts of south- eastern Missouri show that boll weevil damage 18 increasing fast and that warm dry weather is neded to mature the orop. SPOKANE, September 12.—The largest hay crop in recent vears now is being harvested in .eastern Wash- ington. The bid 't - fafta'is 31050 8 ton > (O Pt &1 ATLANTA, , September 12.—Re- tallers of men's and women's cloth- ing ‘in_the southeast’ are doing a tremendous busines this week iIn outfitting colle ents and school ¢hildren for t ichool year begin- ning next week. Praoctically every Southern educational instituiion ex- pects inoreased attendance this year. WEBSTER, Maes, September 12.— The South viliage il recontly pi chased by the American Woolen Company will discontinua the manu- {,:’i.':,".:’.""'"fl' in line with the eep various lines of goods Separat It 18 expeots lhl" the 1 mill will be working on woolens only by November 1. The worsted machinery will be shipped south. dispelled doubts as to the immedia future “of the cotton yarn market here and prices are hardening except those. for carpet yarns, which are in- HOUSTON, “Bepte: ! P, ptember 12— There & large movement of oil "F.t}' “l‘ the last month, going - to Atlantic ports, 114,363 to foreign countries and 154,271 belng i Masico. € Imported, largely from CONNELLSVILL] Pa., September 12.—Coke has stiffened up, Dm?tly due to production curtailment. Spot is quotable at $4.75 for heating coke, $5 to $5.25 for furnace and $6 to $6.50 ‘(:; f;;l:’l‘-:rhy. i) cast has been buy- eating o by v i & coke as a substitute PORTLAND, Ore., September 12.— Growers estimate that the apple crop of the northwest will be 25 per cent shead of 1922, whi 'boxes shipped. hich totaled 1,400,000 ADVANCE IN COTTON HALTED BY SELLING Heavy Realizing in Markets Today on Weather and Reports on Yieid. By the Assoclated Press. NEW YORK, September 12.—The re- actionary sentiment which haa re- mained in evidence on the rallies of vesterday afternoon was reflected by more active realizing or liquidation in the cotton market this morning. ! The selling was promoted by rela- | tively easy cables, the rather unset- tling political news from the near efin!‘h reports of continued good weather in the so o private repors. mads. the" mismona condition of the crop 52.4 and the in- dicated yield of 11,080,000 bales, or con- siderably above f; Inrllhe We!‘k. igures jsued earlfer rst prices were barely stea, an advance of 1 polut on Septemiber but generally 10 ‘to 17 points lower, and active months showed net losses gr.23 to 32 points within the first g ober contracts 272 and January to 3135 0 °F t© Early Selilng in New Orleans. NEW ORLEANS, September 12.— Losses of forty to forty-four points were made In the cotton markets in | the firet hour of trading today under continued favorable weather in the belt, a poor Liverpool and an unfa- vorable opinion of fome phases of | European politics. _October fell 1o | 2708, A private crop report of &2 | per cent of normal, indicating & yield of 11,080,000 bales, increased selling to some extent. Futures opened Oc: tober 27.33; December, 27.30; January, 27.19; March, 27.16; May, 26.85. 2 Sharp Rally ‘Around Midday. NEW YORK, September 12—The early break extended to 27.82 for Oc. | toler and 27.10 for January, making net declines of °# to 50 points. There were covering and scalé down buying for the trade, which steadied the mar- ket at the lower prices, however, and | a sharp raily followed the publica- | tion of the weekly weather report and a private midmonth crop report. The -latter placed the condition at 52.3 and the indicated yleld at 10, 503.000 bales. October quickly rallied to 28.10 and January to 27.45, but the market showed continved nervous- ness and was several points off the best around midday, e New Buying for Long Account. NEW ORLEANS, September 12.— The market gradually strengthened on scattered new buying for long ac- count. Soon after 11 o'clock,. what looked like a drive against the shorts was under way and it put October to 2750, with the list & points higher | to 7 points lower than the closing quotations of yesterday. H Closing Cotton Quotations. NEW YORK, September 12.—Cotton, | spot, 28.05. Cotton futures -closed easy; October, 27.76a27.81; December, 27.46a27.48; January, 27.08; March, 27.04a27.08; May, 27.00827.03. NEW ORLEANS, September 12.— Spot cotton, steady and unchanged. Sales on the spot, ta arrive, $00, Low middlins. 26.60; iniddling, $7.60; ood middling, 28.00. Receips, 5, Baben: atock "E3,137. . o NEW ORLEANS, September 12— Cotton futures closed steady at net | losses of 42 to 61 points, October, ] 26.99a27.01; December, 26.97a27. January, £6.83a26.85; March, 2 26.82; May, 26.60. ——— LAKE BOATS TO GATHER. Will Carry Canadian Grain Crop to East. WINNIPEG, September 12.—All Ca- nadlan boats on the great lakes have been ordered to report at Fort Wil- liam or Port Arthur next week to engage in cafrying the 1923 grain crop to eastern terminals, it was .ported. 3 The order was said to have been due partly to the refusal of vessel owners in the: United States to en- gage in the Canadian trade under the uew lakes frelght act, requirieg tnem to e ‘o - ¥ # —_— WILL PROBE OIL PRICES. Wisconsin Officials to See if Mo: nopoly Exists. MADISON, Wis., September 12.— Acting under the broad powers of the Wisconsin_marketing law, the state today that 1t vou.l;k:m'l 'm“l:n“ nstitute an investigation into the oll industry 80 far as it Ay ooncern monopoly operations in the state. TREASURY CRETIFICATES. (Quotations furnished by Redmons & Co.) ‘Pll‘. > chan, é tiniony, pot, T4 {100,000 more vehicles than were pro- SURPRISED FORD His Share in Light Car Field -Now 68 Per-Cent, Against /89 Per Cent in 1921, ° DETROIT, = September 12.—Récent price reductions by Chevrolet have upset price relations in the light car fleld. Overland has followed, and re- adjustments by others, possibly by Ford, aré now expeécted. Chevrolet at $495 (touring), is $102 higher than a Ford with starter, $52 highér than Star and.$25 below Gray. The startling feature of the Chev- rolet réduction is that for once man- ufacturers in the light car class have | not. walted for Ford to take the lead. There was genuine surprise at High- land Park when the news reachsd there. “Announcement had Just been miade in connection with the new Ford modely that prices would not be changed, and the trade wholly unprepared for Chevrolet's action. Ford’s Rapld Expansion. It has been suggested that Ford, because. of the amazing gaing of Chevrolet, Overland, Star and Gray during the past two years, has not been “holding his own.' TFord has been expanding at the rate of $10. 000,000 a month for half a year, his own production hay grown from 4,000 ears a day to 7,000 within eighteen months, and it should be of interest to note the comparative gains of Ford and other light car manufac- turers, For seversl years prior to 1922, Ford held approximately 50 per cent of the total annual output of auto- mobiles, In the light car fleld, Ford had 90 per cent of the annual pro- duction. In 1921, Ford's share of all cars was 67.4 per cent; share of 1ight cars was 89 per cent. The 1922 figures show a reduction in_both shares to 50.4 per cent and 78 per cent, respectively, and the 1923 fig- ures, on basis of first six months, show 46.4 per cent and 6§ per cent, respectively. Auto King’s Real Achlevement. The real achievement of the Ford company., however, is seen in sta- tistics showing how much of the in- crease in annual light car produc- tion the various companies have held. When any company reaches up Into the millions in annual output. it is apparent’ that it should not be ex- pected to maintain its previous ra- tios of all_cars made. nor should it Dbe expected to show the percentages of increase year by .year of & ,com- pany whose sales figures are in the smaller numbers. Seme idea of the magnitude of Ford's job in holding even half the trade may be obtained by noting that his_probable incremse in 1923 over 1922, 531,157 cars, is approximately duced by all of his competitors com- bined during the first six months of 1923, —_— ASKS DENTISTS TO WAR ON OVEREATING HABIT Dr. John P. Buckley, As!ocinflon‘ Head, Discusses Evil Before Convention in Cleveland. CLEVELAND, Septemebr 12—War by dentists upon the habit of over- eating was urged by Dr. John P. Buckley of Los Angeles, president of the American Dential Association, in | his annwal address before the sixty- fifth_convention of the orgnization. Dr. Buckley also appealed to his col- leagues to battle against cancer. It. may be necessary to adopt a twentiethi amendment to the Consti- tution to regulate eating as well as' drinking,” Dr. Buckley stated. “Liquor_traffic ever has been. the lcursé of the ages, but gluttony to- lday- 1s claiming more victims than Iarunkenness ever did. It is the duty of.the dentists to.teach the people how to eat.” Calling_the attention of delegates to the relation between cancer, glut- tony and their profession, Dr. Buck ley declared thelr energies most be turned to eradicating this plague. Carefully made estimates justify the assertion that one man out Of every thirtéen and one woman out of every eight past the age of forty will suc- cumb ‘to some form of malignant neoplasms, he said. . Since many ‘of these growths océur on the lips, cheeks, tongue and Jaws a knowledge of pre-cancerous lesions in and about the mouth Is of the utmost impor- tance to every practicing: dentist, he continued. Addressing_the delegates last night Dr. George W, Crile, Cleveland spr- geon, declared the cancer problem is not hopeless. Radium and X-ra: he said, are of the greatest useful- ness in healing pre-cancerous condi- tions. Announcement of & partial clusion reached in research which may prove to be of far-reac! ing consequences was made by Di Thomas B. Hartsell of Minneapoll: in an address before tha research ection of the asseclation CRUDE OIL PRICES | REDUCED FURTHER By the Associated Pre . HOUSTON, Tex., September 12—The Gypsy Oil Company. a subsidiary of the Gulf ©Oil Corporation, today an- nounced a cut of 20 cents a barrel'in Okiahoma and Kansas crudes, with the lowest quotations at 90 cents and the highest at $2. .The Gulf Pipe Line Company also made similar reduc- tlons in North Texas light oils. The Guif followed the lead of the Magnolia today, when it announced cuts practically the sama as those made by the latter company a week ago. These cuts were met at the time by the Humble and Texas Company. The, Magnolia abolished 41 degrees | and above grades, but these will be maintained by the Gulf, with a cut of $2.20 to $2.00: ATTACK SPANISH PREMIER September | 12— Prémier ilva was waylaid by three while: driving” in his au- tomobile yesterday afternoon. But the men were placed under arrest before ‘they had committed any ‘serious as- sault. LONDON, September 12.—Three syn- dicalists attempted to assassinate Premier Siiva of Portugal today, ac- cording to Lisbon dispatch to the Cen- 1ullr1=wx, The sttempt was unsuc- cesstul. NEW YORK DAIRY PRICES. NEW YORK, S con- i creamery extras (92 score) . 463 creamery first (88 to 91 score) 42%a 467 2 . " , firm; receipts, 19,298 boxes; ff:{nl&lrlfl, xtra firsts, 39a42; do, firsts, 35a38. ° v ¢ Ch.;ea'b, steady; receipts, 325,447 pounds. - . 'TODAY’S METAL MARKET. NEW YORK, September 12.—Cop- . _steady. lectrolytic, spot and 3 futures, 13%ald. Tin, hd gearby, 42.37; futuree, - ‘te, i pri un: Lead, s M“ o ged. Zinc, CHEVROLET CUTS - | {boats are expected to operate on a PLAN FOR RUSHING Money to Loan ANY' AMOUNT Trade A ‘hl:‘):l:.'.. s Warehouse Recelpta, Mamufacturers’ LAccounts, Short-Term First and Seeond Mortgages or Approved Cole iateral. American Finance Corporation Commercial National Bank Bldg. EQUITABLE Co-Operative Building Association Organized 1879 434 YEAR COMPLETED Annets Surplus SYSTEM IN SAVING It you resolve to save something each pay day you will find more will be accomplished in a financial way than ever before. COAL SHIPMENTS Anthreoite Agreement Held Almost Certain .of Ratification : Next Monday. Special Dispateh to The Star. PHILADELPHIA, Scptember 12.— So confident are operators, miners and railroad men that the anthracite agreement will be ratified next Mon- day and mining resumed at once that carrlers are making preparations to handle a big anthracite trafic. En- gine and train crews which had been 1aid oft when work at the mines was suspended have been warned to be ready for duty at a moment's no- tice. The Pennaylvania road has posted inquiries for new brakemen. ! It is expected that the 10 per cent wage increase will result in addi- tional prosperity to the anthracite re- gion. ' New Philadelphia, Branchdale, Forestville and Mount Leaffee; mining | towns, are preparing to erect new schoolhouses, RUSH WORK ON BOATS. New Canal Service May Be Tested Before Cold Weather. Speeinl Dispateh to The Star. DULUTH, Minn., September 12 Work on the new electrically driven lake and canal boats, which will be! operated between Duluth and New York by way of the great lakes, | the barge canal and the Hudson, progressing rapldly and it is hoped | they may be put in service be!utl‘y the close of navigation. The new | Subscription for the 85th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON. President FRANK P. REESIDE, Seey. When Buying Our 7% First Mortgage Notes you get in addition to absolute Safety of Principle, a prompt. courteous Service that insures your interest being collected and remitted the day due. All our loans are placed on the most conservative basis, less nine-day schedule. Their capacity will | be 26,000 tons each. RICE PRICES RAISED. New Orleans Reports New Crop in Poor Condition. | Special Dispatch to The Star. NEW ORLEANS, September 12—/ The price of fancy grade Early Pro- ! lific and Blue Rose rice has advanced to 5 cents a pound, an increase of || than one-half the market three-quarters of a cent in a Wen)\.‘r value: guaranteed title ab- but tke volume of business.ls smal),!|| Stracts go with notes. whether due to small receipts of new crop || large or small amounts. Apply product. A large portion of the new Mr. O'Donnell, Loan Dept. crop is wet and unfit for either stor- Amounts of $100 up to $5,000 ase or milling. There has been somo available. speculation as a result of the Japan- ese disagter, but the trade is await- CHAS. D. SAGER ing further devefopments. ST o Tt G Money to Loan Secured by first dced of trust om real estate. | Prevailing interest and l‘--lllh-,,'_ ; Joseph 1. Weller gioWyh L &1t | First Mortgage Loans Lowest Rates of Interest and Commission, Prompt Actiom Thomas J. Fisher & Company, Inc. 738 15tk !KZ 2nd Trust Notes To Yield 14% Forty notes of $300.00 each offered for sale at a discount to yield the investor 14% per amoum. The botes are due in one, two and three years. Secured by an apartment house. Prop- erty appraised and loan approved by prominent auctioneer. JOHN H. WRIGHT 1116 Vermont Ave. N.W. Main 3397 Experience—It Pays— Over a Quarter of a Cen- tury Specializing in the Management of Rental Properties. RENTS B.F.SAUL CO. | Mortgage Loans 1412 Eye St. N.W. Phone Main 2100 In Convenient Denominiations For Investors Interest 6¥2% N2 W Strect Main 6888 | SAFEGUARDED INVESTMENTS In addition to the usual security of any first mortgage, The F. H. Smith Company’s First Mortgage Bonds are protected by a definite system of safeguards developed through fifty years of experience. ) You are assured a constantly increasing mar- gin of security through our sinking fund plan, which requires of every borrower an annual reduction of the mortgage. Every man or woman with funds to invest should get full information about our Safe- guarded First Mortgage Investments. They pay 6Y%:% interest, with tax-free features which actually increase the yield to 7.13%. Get Booklet S. and N.—12 Today Phone Main 6464 H.SMITH CO. ounded 1873 Call or write ke F. NO LOSS TO ANY INVESTOR IN 50 YEARS