Evening Star Newspaper, September 15, 1923, Page 13

FINANCIAL, MARKET'S LEADER AT LOW FOR VEEK New Break.in Steel Takes Other Stocks Down in Brief- Saturday Trading. By the As d Rress, . NEWu;gfih?pt!mh!r 15.~Selling orders again'predominated in today's short session of the stock market and stock prices continued to lose ground. NEW YORK STOCK EXCHANGE Recetved by Private Wire Direct to The Star Office Adv Rumley. ... Afr Reduetion. . Ajax Rubber. Alaska Juneau.. Allied Chem. ... Allis Chalmers. . ‘Am Agr Chem. . Am Ag Chm pt., Am Béet Sugar.., Am Brake Shoe. Am Bosch. Am Can. :- %unon m Druggist. :m Ice. ,. m Internay) Am L’Illl.d’. A brief ‘rally’ took ‘place at thel, opening,'{r’ which some-of the gains ran as high as 2 points, but it only, served to!brifig out increaged offer- Ings from bear eperators, ‘and the whole list sagged again. A few shares rallied feebly later, but without effect on the general list. United States Steel broke below 88 to a new low on the movement, and Baldwin, udebaker, American Can and Guif States Steel also sold at their lgwest prices of the week, Pan American B, Dupont and Amer- {can Linseed preferred dropped 3 oints or more. The closing was heavy. Sales approximated 350,000 shares. PRICES BREAK SHARPLY. Industrials Get Worst of Vicious Attacks by Bears. BY STUART P. al Pisphfeh 1o Thetar. NEW YORK, September 15.—Heavy selling broke out in today on the , Btock exchange, carrying prices down sharply, in close to the August lows. The pressur was confined almost wholly to the industrials and was largely the result of professional bea attacks, directed against a npumber. of leaders. United Statés Steel drop- ped below 88, against its high above 93 a few days ago. Baldwin Loco- motive, getting down under 116, was about 3 points frami the Friday top. Dupont fluctuated rathetr freely and as it got through 120 completed de- cline of approximately 10 points from its best price of the previous day. Marland 01l Especially Weak. Corn Products, Amerfc Can,’ the Pan Americans, Studebaker and United » States Industrial Alcohol all' went well below their bottom figures of Friday. Marland Oil was actively dealt in at s ‘lowest prices for the year. TUnder 21, it was several points from its top midway through the week. Marland Oil fell to a new low in face of the den by the Marland president of the report that his committee had reduced the price of oil 10 to 20 cents in the mid-continent territory. The head of the company said that Marland has been buying crude oil from pro- ducers at contract prices, which were the average of market prices posted by other companies, and that it has been selling this crude under contract on the same price basis. Rather Quiet. Little prominence was shares of companies engaged in the silk business—Mallinson, Kayser—but further interest was shown in the ex- pected opening of its fall unfinished line by the former copicern. It is un- derstood that on Monday Mallinson will antiounce new prices, based upon con- ditfons which arose from the Japanese disaster, and that these prices will be especially favorable from the stand- point of profit and the ablility of the company to compete with other factors in the trade. The silk to be offered WEST. some instances given the . was bought at prices considerably be- low the present. BRITISH PAY DEBT _ 70.U.5.0 Action, Taken ‘for India - During War Ends by Payments of $31,085,000 to Treasury. The British government todap wiped out the obligation it incurred here through the purchase of silver for use as the major coinage in India during the world war. Tt paid to the Amer- ican Treasury $31,085,000 as the last installment of principal and inter- est on anp original borrowing - of $122,000,000¢ DAY OF COMMUTER. Larger Cities Lose Population as . Suburbs Grow. From the Logthvillé Courler-Journal. Loundon, Parfs and New York decreasing in population, literally by thousands. The greatest c! of the world ‘are .becoming smaller in point of population, and the same trend fs expectedein other cities. And, strange as it may seem, the city offi- clals in each case are jubilant This 1s gomg on simultaneously. with a tremendous exodus from the farms. In the United States negroes are leawing the southern plantations in drovés_ and’ going te the cities. Farmers' sons and daughters are seeking their_fortunes in the darger centers, - And birth cenmtrol s far from a succe: b Then why the contradiction? The answer is not far to seek. 'his is the day of the commuter. This is the day of the suburbs. < is the day when bungalows are usurping the place of dafsies and wildflowers in the felds. Paris with its suburbs has shown growth. Greater London and Greater New York are larger than ever. Only the city proper jn each case has shown decreases. In 1911 the popula- tion of Paris was 2.888,000; in 1921 it was around © 2,506.000. In 1921 the population of London proper was .- 521,685, or 10,000 fewer than in 1911, though Greater London in the same peripd jumped from 6,500,000 to 500,000. " New York proper declined from 2,284,103 in 1920 to 2,271,892 in 1928, while Greater New York's 1920 census showed a population of 6,- + 000,000. The development of swift transpor- tatign facilities has accounted for this movement to the country, that and the increase in value of the city property und the call of the fields. are and A Bit of Logic. pittsburgh Chrandcle-Telegraph, You know the tale of the social- ist who lectured in a village and said the Jand ought to be divided up. The villagers adjourned to the “pub.” One man said he would have this field, another that. One said he‘wauld have a certain field of the squire’s because it was . ‘best for growin™. ‘taties In.” Finally they Goticed an old codger who had been sitting in a corner taking no part in the talk. The man who had chosen the potato fleld sald, “Why don't you speak oop, Tom? Didn't tha’ goa to t' lecture?” jeve in "t? A “An’ dostna’ ¥ "gll:, yes, a b'lieve lnr;i‘" P «wPhen why dogl tha' nét spéak' dop for thy share?” %Oh,” said the old-fellow. “A'm not goln’ t' work ma socialism that road.” . p “How then?” < “Dick, dldstna say that ha' that fleld o' t' sauire's cos it growed t' i best ’taties?” Foid hy 3 “And didn't tha’ say tha’d pay t' squire nowt for it “Wytll. I'll come and gather t' ‘taties and pay thee nowt for'em. N SILVER| Am Steel ¥a Am Sugar.....] Am Sumatra. .’ Am Tel & Teleg, Am Tobaceo. ... Am Tobac (B):. Am Woolen. . .. Am Writ Pr pe. . Am Zinc&Ld pt. Anaconda., Arnold Cons Associated Oil. . Atehison....... Atlantic Fruit, . Atlantio.Gult. .. Atl Gulf pf. Atlantic Ref. Austin Nichols Baldwin Loco Balto & Ohlo. Beechnut Pacl Beth teel Booth Fish..... Br Em Stl 2d pf. £xivn Edison Burns Bros (A). Butte Copper. .. Calif Pack Calif Petrol Canadtan Pac Central Leath Cerro de Pasco. Chandler Mot Chesap & Ohlo. . Chi & Alton. . Chi & Alton pt.. Chi & East 111 Chi Grt Wes! Chi Mil & St P Chi MII &St P b Chi & Northwn. Chi Pneu Tool. . Chi R I & Pac Chi R 1&P6% pt. Chi R I&P 7% pt Chile Copper . Chino Copper. CCC&StL Cluett Peabody. Coca-Cola...... Colo Fuel. Columbla Gas Columbia Grapk Col Graph pf.... Columbn Carbon Comp Tabulat. . Cons Gas of Cons Textile Cont Can. . . Continental Mot Corn Products. . Cosden & Co Crucible Steel Cuban-Am Sug. Cuba Cane Sug. Cuba Cane S p? Cuban Dom’can. Davidson Chem. Dei & Hudson. . Detroit Edison. Dome Mines. ... Dupont (E1)... Eastman Kodak Eaton Axle & Sp Elec Stor Bat.. Elk Horn Coal. . Erie. ... A Erle 1st pf Erfe 2d pt.. Famous Players Fidelity F Ins. Fleishmai Foundatiop Co. Freeport xas. Gen Am "Tk.Car. Gen Asphait. ... Gen Electric.. . Gen Motor! | Gen Mot 6% deb. Gen Mot 7% deb. Golawin Corp Goodrich Goodrich pf Goodyear pr pf Granby Consol.. Gray & Davis Gt Northern pf. Guantana Sug. . Gulf St Steel.... Hartman Corp. . Hayes Wheel... Hendee Mfg. ... Househ'd Prod.. Houston OIl Hudson Motoi Hydraulic Stl Illinots Central. Ind Oll & Gas... inland Steel Inspiratfon. Interb Rap T In Ag Chem pf.. Int Cement. In Combust Int Harvester Int Mer Marine. Int M Marine pf. Int Nicke intl Paper Int Shoe pf . Intertype Corp Iron Products Invincible Ofl 1slandOil. ... ansas City S.. Kagser (Jullus) Kelly:-Spr Tir Kennecott Keystone Tir Lehigh Valley.. Lima Locomo, Loose-Wilés. .. Mack Trucks. .., Macy Co pf. Mallinson & Co. Manatl Sugar Manhat Ll Sup. Maracaibo Ol { Marland Oil | Martin-Parry Maxwell (A)... May Dp Stores, MclIntyre Por Mex Seaboard. . Mex Seabd etfs. Miadle stoll... Mo Kan & Tex.. Mo K & Tex pf. Mo Pacific Mo Pacific pf. Montg’y Ward. Moon Motor: Mother Lode. Natl'Dept Stores Natl Enamel. Natl Ry of M 2d4. Nevada Copper. N Or Tex & Mex. NY Alr Brak N ¥ Central | NV Chi & StL. | NYC&StL pt(n). “NYNH&Harttd., Norf & Western North Amer. North Pacific Ontarlo Silvel Otis Steel Owens Bottle Pacific Develop. Pac Gas & Blec.. Pan-Am Pete. Pan-Am P (B).. .|¥enn Coal & Cke Pennsylvan! Penn Seabd Stl. People's Gas. , Peoria & Bast. Pere Marquette. . 100 Open. High. 9%. 9% 64 | 64 6 6 % % 65 65 A% 414 13 13 354 35% 31% 381% 7 71 31 81 93% 93% 5% 5% 4% 4% o 91 184 18% 19 19 36 36 69% 70% 114% 114% .« bW B% 57% B7% 85% 85% 65 65 20% 20%. 124% 124% 15 145 142% 1425 82% ®2% % % 35 s 39% 39% 15% 15% ) 100 100 9 96 1% 1% 14 14 13 1 100 23% 23% 117% 118% 48% 48w 65 65 49% 50% 5 5 18 18 107% 107% 11 111% 5% b% 79 T9% 18% 18% 14U 1A% 161 16% 89% 39% 60 50 61% 61% 21 2% 6 6 26% 263 % % Zi% 21% 65 60% 9% . 79% 26% 26%% 16% 16% 90% S0% 71 71 T4% T4% 26% 26% BT 5 123% 124% 30% 304 61 6l 26% 27 1% 11% 44k 4an 4% 50 511 107% 108% 103 103 a7 - 47 1243 125 10215 102% 23 23 58 58 1o 184 18% 18% 214 21% 5 16 70 '70% 114 114 43% "~ 43% A9 69% 12% 13 42 42 29% 29% 173% 178% 147% 16% 82 . “82 9% 97% 16% 16% 24 ', 24 80 " 80 91 1 17%. 174 8 8. 65 " :6b 6% 8%, 79 85 - 85 84% 34% 17 Y 31 ° 31 47% 47% 25%. 26% 1% - 1% 105 106 3% 8% 83% 834 27%. 274 16% 15% 8% 8% 35 36% 22 22 7 16 6% 6% 2314 23% 12 12w 32% 824 T 114% 1143 31 39 % . % 50 ~16% 3% 30% 84 4% 60% 683 50 T5% 31 89 "% % 50 17 3% 30% 84 4% 60% 63% 50 6% - 112% 112% 29% 49% 41 17% 22% 28 89% % 15% 9% 9% 5t 12% 20% 10% 2% 21 24 | 8% 92 45% 54 39% 60 214 12% 85 85% 364 36% 100% 100% 78 78 90 90 12% 12% 102% 102% 20% 20% 574 b7% T 48 4 297 49% 41 1% 22% 28 39% 7% 15% 10% 10% 5% 125 30 10% 21% 21 24 8% 92 45% 541 39% 60 2% 12% % T8% 83% 12% 57% 5615 6% 142% "i 41% 3%, 3% Low. Close. 9% 9% 64 64 5% 6% % % £68% ' 64 0% 4% 13 13 136 85 31 81% %L 0 81 31 _91 _91% 5% 5% 4% 4% 504 90% 1% 1% 1919 36 36 69% 69% 1143 114% 5% 5% 56% 5% 5% 86% 65 65 20% 20% 123% 124% 143% 144% 142%.142% 82 82% 7% % 82 82 39% 39% 16% 16% 7% 78 100 100 96 96 1% 1% 14 14 12 12 100 100 281 23% 16% 115% 4TH 4TH 65 48% 48y % 4N 17 17 106% 106% 109 111% 5% 6% 79% 79% 18% 18% 141% 141% 16% 16% 39% 89% 48% 48% 61 61 2% 2% 5% 6 26% 26% W 4% 15%" 15% 26% 26% 6% 847 80%; 81 215 21% 66% 65'. 9% 9% 26% 26% 161 1615 90% 90% 7 78% 122 29% €0 60 26% 26% 1% 114 2% 4 4% 49% 50% 107% 107% 103 103 ST oY 119% 120 102% 102% 20% 20% 574 57w 18% 18 13 13 20 20 14% 1a% 69%a _69% 114 114 43% 43t 65% 68% 124 13 41 41 2814 28% 1727472 1amer 122% 30 [k e 1% 17°0 V1 % 6% T B4y Bl 34 34 iy 8L 81 47, 47, 25% 5% 1% 1% 105 105 3% 3% 83%. 88% 27% 27% 16% 16% 8% 8% 85 85 22 22 5% 6% 6% 6% 22 22 1212 31% 31% 114% 114% 31 381 39 39 9%. 9% % % 49 49 16% 17 36% 36% 20% 29% 3% 33% 4% 4% 60% 604 621 02 50 50 ki3 112% 29% 49% 41 16% 21% 28 38% 7 9% 10% 5% 12% 29% 10% 26% 20% 28% 8% 92 45% b4k a9 68% 2% 12% 85% 36% 100% 73 90 12% 102 20% 56 8% 8% 2% % 76 75 112% 294 49% 4 16% 20% 28 88% 7 15% 9% 9% 5 12% 29% 10% 26% 205 23% 8% | 92 45% 54k 39 58 215 126 86 36 100% 72 90 124 102 20 56 i 8 42% % 76 i £5 534 36% 42% 2% 9034 9 Open. High, 4% 4% 16% 16% 22% 22% 8% 20 24 42 53. 23% 40 18% 50 17% 108 13% 384 10% 8% 51 .38 1% 45 83% €6% 86 6% 18% 421 27% 56% 28% 92% 9 7% 31% 913s 25 83% Philadelphia Co ilip Morris. Plerce 011 Pltts & W Va Postum Cereal Produc & Ref. Prod & Ref pf. Pullman Co Punta Alegre PureOll........, Railway Stl Sp.. 108 Rapid Tran Sec; 13% Rap Tran Sec pf 88% Ray Con Copper' 10% Reading _ 3% Reading 2d pt..~ 51 Remington Replogle Stee Rep Ir & Steel . Rep Ir & Stl pf.. Rey Tobao (B). Rossia Insur. Royal Dutch, StL & San Fran St L&San Fr pf, St L Southws. .. Sears Roebuck. Shell Tr & Tran. Shell Union pf. Simmons. Sinclatr Of1 nelair pt. Skelly Of) Sloss-She South Paelfic Southern Rwy. Southern Ry pt Spicer Mfg Co. . St Oll of Calif. .. Stand Ofl of N J. Sterling Prod. Stewart-Warner Strombg Carb. . Studebaker. Submarine Bt.. Sweets Coof A.. Tenn Copper. .. Texas Company Tex & P C&Oll. Third Avenuo. .. Timken Bearing Tobacco Prod. .. Trans Cont O] Union Pacific United Frult. 49 81 b4 82 8 % 9% 4 % 10% 26 50% 3% 128 170 10% 3215 29% % 4 48% 94 39 924 28% 41 87% 17 59 16% 28% 8% 26 18% 8% 27% 165% 36 81y 9% 1% 16 56% 58% 21% 50, U S Cast I Pipe. US CastIr P pf. I U S Food Prod. . US Indus Aleo U S Realty. S Rubber. . S Rub 1st pf. U S Smelt&Ref, USSmelt & R pi U S Steel. Steel pf. TUtah Copper. Utah Securities Vanadium Corp. a-Car Chem. .. Va-C Chem pt. VIVAdOU. .eeusas bash. .... g Wabash pf (A). Waldort (new). vells-Fr Exp. . West-Penn pf. Western Md. Western Md. 2d. West Pacific. West Pac pf. Westhse EI&M., White Eag Ofl White Motor. Willys-Overld Willyp-Overl pf. 67% 67% 67% 67% Woolworth 250% 250% 2501 250% HOURLY SALES OF STOCKS. 11am.....184000 12m...... 440300 GOTTON ADVANCES AT LIVELY RATE Saturday Session Marked by Further Gains in Near Month Quotations. 28% 5. 84 921% 41 17 59 . . 88l 59% 16 29% B4 26 18% 84 27% 15% 36 8% 9% 18 16 65% 58% 21% 50 614 29 8% 28 18% 8% 27% 16% 86 84% 9% 17% 16 654 584 210 50 6% 6% 68% 2% 50" €% BY GEORGE DE WITT MOULSON. Special Dispatch to The Star. NEW YORK, September 15.—Steadi- ness in cotton continued as a direct result of strength in Liverpool, where near months advanced sharply again today. So little cotton is stored: in -Liver- pool and forelgn stocks have fallen to such small proportions that.mills are obliged to pay extreme prices for whatever raw material is needed. This has reduced the floating supply of contracts so that very little buy- ing is necessary to maintain prices. The rise abroad caused another opening advance here and in New Orleans similar to that 6f yesterday. January in New Orleans jumped 40 points, with December here back to 27.62, the high level made on Friday. This recovery again encountered cot- ton, large blocks of October being for sale at 27.95 and a quantity of De- cember at 27.60. Today Cotton Quotations. NEW YORK, September 15.—Cotton futures opened steady. October, 27.90; December., _ 27.55; _January, = 2116: March, 27.05; May, 27.05. NEW ORLEANS, September. 15. Cotton futures opened steady; Octo ber, 27.12; December, 27.10; January. 27,00 March, 26.90; May, 26.85. An ad vance of. 8'to. 40 points was made by ! cotton in the first half of the session today, on buying encouraged by the further rains in Oklahoma and Ar- kansas and fear that they would ex- tend down into more southern por- tlons of the belt, . NEW YORK, September 15.—Cotton —Spat quiet; middling 28.90. Futures closed firm: October, 27.90a27.92;; De- cember, 27.60a27.65; January, 27.20a 27.23; March, 227.10; May, 27.00. NEW ORLEANS, September 15— Cotton futures closed steady at net gains: of 23 to 27 pdints. October, 27.12a27.16; December, 27.05a27.12; January, 26.85a26.991; March, 26.80a 26.86; May,-26.633.26.677. . Spot cotton qulet and unchanged. Sales on the spot, 68; to arrive, 60 low middling, 26.80; middling, 27.50 good middling, 28.00. —pnies FOREIGN EXCHANGE. By the Associated Rress. NEW. YORK, September 15—For- eign_exchange irregular. Quotations (in United States dollars): Great Brit- tain, demand, 4.54; cables, 4.543; | sixty-day - bills on_ banks, - 4.513%. France, demand, .0586%; cables, .0687. Italy, demand, .0443%: cables, .0444. Belgium, demand, .0486% ; cables, .0487. ! , demand, .000000001; cables, .000000001%. Holland, demand, .3930; g demand, 1605, 1 3 ; Denmark, de. mand, Switzerland, demand, 1778; demand, .1346; Greece, emand, . Poland, ' demand, .ewoaxlga tho‘.\ovlkh. demand, .0300; Jugoslavia, demand, .0109; Aus- tria, demand, .000014; Rumania, de- mand, 0047 Argentina, demand, .3300; Brazil, demand, .10127 Montreal, demand, .97%. MANDAN, N. D, September 15 (Special) —Heavy losses of live stock from rattiesnakes sre reported from rahges bordam&‘ on ti section. Farmers rm t cattle deaths are of almost - occurrence. <A num- ser of people have been bitten; but! BOND PRICES FIRM IN FOREIGN GROUP Liberty 3 1-2s Make New Low for Year—Cuban Bonds Rally in Trading Today. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, September 15.—To- day’'s bond market presented no char- acteristic markedly dificult from'the entire week. There was the same evidence of a belief in slightly higher charges for money in the dealings in the high-grade investmernt class and there was the same show of strength in the forelgn group which has been 50 noteworthy a feature of the market all ‘through the recurring crises abroad. Liberty 3%s Again Decline. The demand of investors for a higher return on their funds showed itself in the decline n the Liberty 3%s, which today made another new low 'record for the year. The same tendency was evident in the municipal bond market, where the dealings are entirely “over the counter.” New of- ferings, both of state and city issues, have conformed in price to this de- mand. The range this week has been from about 43 per cent on Minneapolis ob- ligations to 5.1 per cent on North Carolina notes. This represents a concession to the views of the invest- ors from the rate prevailing a few months ago. Significant was the of- fering at lower prices of unsold por- tions of the soldier bonus bonds put out by middle western states. To a less extent there has been the same shading of quotations for the high- grade “legal” ralils. Forelgn List Is Feature. In the foreign list French bonds have attracted the most attention. Steadiness in these issues has con- tinued all through the:weakness in both the speculative and the invest~ ment classes of domestic securities. The strength in the French 8s and the French 7%s is partly explained by the operation of the sinking fund, which has retired about 93 per cent of the original issue in the case of the 8s and an even larger proportion in the case of the 7%s. Buying of French cities issues and such French bonds as the Paris-Lyon Mediterra- nean, however, cannot be ascribed to any such Influence. The improve- ment ranges from 2 to 3 points. What this represents must be con- fidence not only in the eventual so- lution of the reparations problem, but in the financial stability of France. The principal effect of the “critical situation in southeastern Europe was shown in the Jugoslav 8s, which are especially sensitive and which lost ground slightly on the week. German Loan Possibilities. On the other hand, the Czechoslovak and the City of Greater Prague bonds were practically unchanged. There has been discussion of the possibility of an nternational loan to Germany along the lines of the Austrian issue under the auspices of the league of nations or guaranteed by the several allied powers. Such a loan may come, but not for a long time. Germany must first demonstrate ability to bal- ance her budget and the amount of reparations she must pay must be definitely and finally fixed. Cuban Bonds Rally. As to the speculative and second- grade domestic bonds, the rule has been that they moved more or less in sympathy with stocks. When the stock market broke so sharply in midweek speculative bonds did the same, but to a less degree. There was less excuse for the movement in the case of the bonds than in that of the stocks. Another notable incldent of the week-was the drop of 7 points in the Cuban 53¢s, which, however, had no relation to general market condi- tione. Incidentally, these bonds ral- licd substantially today. SUGAR DUE FOR DROP, BIG REFINER PREDICTS Special Dispatch to The Star. NEW YORK, September questionable whether the present competitive demand for raw sugar and ‘the rising prices will continue for the next thirty days, as many believ. ys the Federal Sugar Re- fining Company in its review of the industry, which points out that it is doubtful if refiners and the trade will care to replenish supplies beyond thelr ordinary immediate needs. ~The rapld advance, the review states, has been due to keen competition among refiners for supplies to arrive in September and early October. There were about 540,000 tons of exportable gugar in Cuba on Septem- ber 1, reports Federal, allowing for normal honie consumption. have to be shipped at about 35,000 tons a week in order to dlspose of the supply before the com- mencement of the next crop. This average was exceeded lakt year dur- ing the same period and the stock on this island was comparatively equal to that of this year at this date. CAR LOADINGS SLUMP. Pennsy Traffic Drops on bAcct‘mnt' of Labor Day. PHILADELPHIA, September Car loadings on 'the Pennsylvania fell oft considerably during the week ended September 8, according to figures just issued by the company. Loadings that week were 162,083, against. 184,336 the week béfore. Officials of the road say that there is no particular significance to the de- cline, a large part of it being due to the interruption in traffic movement owing_to Labor day. ¥or the period from-Jatiuary 1 to September 8 load- ings on the Pennsylvania totaled 5,956,460, compared with 4,907,704 in the corresponding period of 1922, an increase of 21.36 per cent. SUPERSTITION IN RUSSIA. Peasants Employ Formulae of Dark Ages in Treatment of Sick. Froti ‘the’ Kansas City Star. In the Volga government of soviet Russia the peasants lay people sick with the fever in the sitow naked, S0 that “the cold wind can blow away the heat” Prayers and plous formu- lae are constantly resorted to. : An exorclsm is written upon a card and hung around the patient's neck 4nd he 1s not permitted to eat or drink anything for three days, in order that 15—Tt is he may experience the full healing |’ I he does not offect of this charm. recover, then his family and relatives beat him With clubs, brooms ard any- thing they can lay their hands on, in order to “‘chase out the devil.” In many cases the sick man is ‘hitched to a plow, and, after he has |4 plowed a while he is put in a Russian vapor bath and later massaged with petroleum and tar—usually until he dies. Little children are rolled fn dough and put in hot vapor baths, undef .the impression that this pre- caution makes it easier for them to stand the heat. A popular preventive of cholera is to bury alive in the yard, dogs, hogs or poultry. Lynch law is constantly practiced, sspecially in the famine districts. In some cases a victim of village justice is tled behind a wagon and dragged through the streets for hours. ‘Whilé the soviet government is en- ergetically combating such brutality and superstitions, it simultaneously. encourages them by its hostility to religion and studied contempt for the church., .~ b K . There are seventy-séven muscles in the human hi This will | the rate of | ON NEW YOREK Received by (Bales are in $1,000.) UNITED STATES BONDS. (Fractions represent Example: 98-3 m cans 58 § Low. Lib3%s.... Lib 18t 43, Lib 2d 438, Lib3d 4%s Lib 4th 4% US4%s1952. 45 FOREIGN. BONDS o memavez Private Wire Direct to The Star Office. | seconds. 82.) Close. " 9923 99-24 98-1 98-1 98-1 98-2 98-24 98-26 98-2 99-19 99-19 98-3 Sales. High. Low. Close. Argentine 7s Austria 7 Belgium 74 Belgium 6s Belglum Bern 8s. Bolivia 8 Bordeaux Brazil 7s. Brazil 8s. .. Canada 5s1926. . Canada §%s 1929 Canada 68 1931. . Canada 5s1962. . Chile 851926 Chile 851941, Chile 75 1943 Copenhagen 5% Cuba 5%swi. Czechoslovaki: Denmark 8s Denmark 6s. .. Dutch E16% Dutch East 6847, 11 Dutch East I 6 French Govt 8s French Govt 7%s. . Halti6s. ... Ttaly 635 1925. Japanese 1st 434s. . Lyons6s... Marsellles 6 Mexico 5a. Netherlands 6s. Norway 65 1943 Norway 65 1952. ... Orient Dev deb 6s. Paris-Ly’s-Med 6s. Prague T%s... 12 101 88 I A 100 109% 88 9% 81 95 99% 101 100% 98% 108% 108% 94 “89% 93 23 109% 96% 1% 6% 9615 99% 954 0% 2 1% 80 9% 634 98 968%, 95% 88% 3% 6% 106% 100% 9314 1% 97% 66% 104% 114% 6634 110% 101% 110 e : - e ”n-nmv-uu-mn.o-—w ©wm ol Queensiand 7s. Queensland 6s. Rto de Jan 85 1948. Rio de Jan 8s 1947. Sao Paulo.City,8s.. Serbs Crotes Slo 85 Sweden Gs. . E Swiss Confed 85 Tokio &s Ud Kingm E Ud Kingm 53%s '37. Zurich 8s Am AgrChem 7%s 2 AmChainef 6s'33. 2 Am SmIt&R 1st 5. 25 Am Smit&R 6s. 1 Am Sugar Ret 6s.. 9 AmT&Tcltrbs.. AmT&Teltr4s Anaconda cv db Ts. | Anaconda 1st 6s. Armour & Co 4% Atlantic Refin b5 Barnsdall s f 85 Bell Tel Pa bs. Beth Steel 618 Beth Steel rf 58 Beth Steel pm & Beth Steels f 63. Bkiyn Edison 7s D, Bush T Bldg 53 '60. Central Leather 58 Cerro de Pasco 8s. . Chile Copper 8s. ... Commonwth P 6s. . Con Coal Md 1st 5s. Cuban-Am Sug 8s. Cuba Canecvd 8 Det Edison ref 6s. . Du Pontde N 7% Duquesne Light 6s. Empire G&F 1%s.. Fisk Rubber 8s. .. Gen Elec deb 5s. .. Gen Refractres 6! Goodrich 6%s. Goodyear 85 1931 Goodyear 831941 Hershey 6s 194 Humble O&R § Tilinois Bell 1st & Indiana Steel 5s. Int Mer Marine 6: Int Paper 1st 55 B. Lackawa 8 6s '50 Manati Sug st 7 Midvale Steel 5s. ... Montana Fower 5s. w Eng Tel bs. .. ¥ Edsn 1st 63%s. Y Tel 6s'41...... N Y Tel 6s'49 Y Tel 4%s. Am Edison 65 X States Pow 5a. Otis Steel 7% Pacific Gas & El | Pacific T& T 58° | Phila Coref 6s A Pierce-Arrow 8s. .. { Producers & Rt 8s. Public Service §s. . Sinelatr Ol 7s. I Sinclair Ol 63%s. Sin Crude Oil 6s. i Sin Crude Oi1 5% i Steel & Tube 7s. ... 98% 2% 20% 100% 101% 984 924 100 96% 82% 97w 971 97% 90 84% 20 98U 108% 90% 97 121% 29% 86 86% 108% 93 104 108% 104 92% 102% 100% 9% 99% 102 116% 99 8544 93% 99% 7% 84y 88% 97% 86%% 94% 97% 109% 104% 105% 93% 914 20% 2 914 9% 100% 764 101% B80% 95 88% 94% 9544 105 934 105 106% 97% oy =19 SeeBioemamen ® Sonatine wBeednan~Bn By - —ONNS N BNS 8~ Tenn Elec Pow 6s.. Tobaceo Prod sf 7s Toledo Edn 1st 7s.. &P 6 Unit Drug cv 8s. U S Rub 1st rf bs.. USSteel sfbs..... Utah Pow & Lt 5s.. Vertientes Sug 7s. ‘Va-Car Chem 7s. Car Ch 7%s W AWarner Sugar 7s. . West Union 6%s. ‘Westinghouse 7s. . Wilson & Co 1st 6s. Wilson&C cv T%s. Wilson & Co cv 8s. ‘Winchester A 7%s. 1 103 ‘Aluminum American Cgtton Oil Ge 1824. American Sugar 6s 1987. American Tel. & Tel. 6s 1924.. ‘American Tel. & Tel. 8s 1925.. Anmconds Copper 63 _1920.... Angio American otl 7:4s i or. 5i4s See Central Argentine Rwy. 6s 1927 Central Leather Gs_1925 ik, R. L & Pac, Sis 1 Chicago s Du Vont 73s 1981 | Federal Sugar Ref. 65 1033000 Fisher Body Corp. 6s 1827 Fisher Body Corp. 6 1928 Goodyear T. & R. 8s 1831. Great Northern 7s 1036, Hocking Valley 65 102 “| Humble 0il 5is 1082, Kansas City Term. 68 Kennecott_Copper 7s 1080, Michigan State Tel. 58 1924.... M., 8. P, & S. 5. M. 0las 1631 Morris & Co. T%s 1980 . Penna. B. R. 75 1030........ .. sSt. Paul Union Depot 53s 1023, Rears, Roebuck & Co. s 1923, Stan Rate—Maturity, Bl s December “f 41s March 15, 1924 Bigp June 15, 5i4s Beptember 15, h1d 15, '1825. 35 1001 448 June s ber 1 Eum December 15, owell @ from barrels & da in this: flel Refining put of 4500 next, with 18, field of cent -168,001 1 i¥o-varcels & r5, Germany's gre ~—i Bid. Co. of Amer. 7s 1825. 10215 Almioum 0% % mes. 1o 1088 10008 £ B TREASURY CERTIFICATES. ions furdished by & Co) (Quotations P 1001-16 101 87% 100% 964 100 109% 88 8% 80% 95 99% 100% 100% 98Y 108% 1% 79 9 53 9% 96% 9% T % 76% 106% 100% 93 1% 7% 86 1043 114 66% 110% 101% 110 MISCELLANEOUS. 8% 2% 90% 100% 101% 98% o2 99% 96% % 7% 9% 97T% 90 94% 20 98 108% 90% 97 121% 9% 86 B6% 106% 93 103% 108 104 9236 102 100% 97% 99% 101% 116% 98% 95% 93% 99% ki 84% 88% 7% 86% 94% 974% 109% 104% 105% 934 %K % 92 90% 91 100% % 100% 80% 95 88% 94% 954 105 93% 104% 106 97% 11% 86% 101% 89 97 88 69 103 108% 106% -96% 26 86% 103 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) lose.— <101 100, 1 rd Ol of Canf. b3 1935 98l 962, 12 1on 101 87% 100% 96% 100 109% 88 9 81 95 99% 101 100% 8% 108% 103% 98% 89 92% 93 96% 99% 98% 98% 9% 77 B4% 887% 9% 6% 843 974 109% 104% 105% 934 1% 0% 22 91k 913 100% 6% 1003 80% 95 88% 4% 95% 105 93% 105 108% 7% uz 86% 101% 89 97 88 69% 103 msH 106% 95% 96 864 103 ¢ . RAILROADS. Sales. High. Low. Close. Atchtson geres.. 10 $1% 8T% 8T% 1710 Atchison adj s 9% T0% Atiagtio GLigh e . 82 B&Oprinie.. 9% B&Ogold 7 B&OG6s.. 100% B&Ooviy 804 B&Orefbs 82% B&OSW div 3i4s. 93% B &0 Toledo 4s. .. 83% Canadian North 7 Canad North $% Canad Pac deb 4s. . Car Clinch & O 5s Car Clinch & O Central Pacific Ches & Ohio cv Cheés & O cv. 43 Ches & OgndYs.. Chi & Alton 3%s... Chi B&Q 1st rf Gs. . Chi & ETll gn & Chi Great West 4 ChiM&StPrf 4 Chi M&St P cv 68 Chi M&St P 4525, Chi Rys bs. ChiRI&Pgn 4s.. Chi RI& Pacrt 4s. Chi Un Sta 6%s. ... Cht & W Ind cn 4; CCC&StLrf6sA.. Cleve Term 65%4s. .. Cleve Term bs. Colo & Sou 4%s. Cuba RR 6s. Den & Rio G cn 4 D&RGlstrfbs Erlo con ext Ts Erfegends..... Erie conv4s B. . Gr Trunk sf db Gr North gen 7s Hud & Man ret Hud & Man aj6s. .. Int Rap Tr 6s stpd . Int & G Nor aj 6s Kansas City S 3s Kansas City 8 5 Kan City Term 4s.. Lake Shore 4828, . Louls & N uni 4s. .. Louls & N 6 2003. .. Market St cn bs M&StLrfex s M StP & SSM 6% MK&T 1st4s.. MK&TprinSsA. MK &P adj 6s Mo Pacific 6s. ... Mo Pacificgn 4s. .. NOTex &Minbs. N Y Cent deb 6s. NYCentribs.. New Havencd New Haven T e Ry NYW & Bos 4% Northn Pacriés.. Ore Short L ref 4s. Pennsyl 6%s. . . Pennsyl gold Ts. Pere Marq 1st b3 Rapid Tran 6s. Reading gen o St L IM&S R&G 4s. StL&SFpl B StL&SF inc 6 StL&SFadjés... StL&SFplésC.. StLSW l1stés.... St LS W con 4 Seab'd A Lref 4s Seab’d A L adj 6s.. Seab'd A L con 6s. . Sou Pacific 451929, Sou Pacific ref 4s. . Southern Ry 1st 68 Southern Ry gn 4s. Southern Ry 6%s. . Sou Ry Mobile 4s. . 6% 6% Third Ave adj 5s. 51% 51% 651% Union Pac 1strf4s 16 81% BIX 81% Union Pac cv 4s. 2 96% 9% 5% Union Pac cv. 2 108% 1084 1034 Virginia Ry 1 1 94 94 94 Weptern Md 4s 1 60 60 60 TOTAL SALES (Par Value) 1lam.. 2080000 12noon. 398 .. TURNS DOW RATERESTRTIONS Changes in Present Freight Charges for Cotton Are Held to Be Unjustified. 100% 94% 81% 84%. T0% 43% 103% 48% 51 103% 108% 81% 60% 63% 35 69% Bd% 80 94% 89 95% 93k S Cansenasnanamanm 51 104 106% 82 60% 63% 86% 69% B4% 80 94% 89 95% 9315 164 - QOO Gt 13 i N OV RS B OV B b e 60% 35 80 9 89 95% 3% 16% 16% 102% 102% 102% 4% T4% - T4% % 1% 1% 58% b63% b63% o1% 1% 9% 51% b1% bl% T AT T 1044 104 104 9% 94% 95 58% 68% 68% 6z 62 62 62K 62% 62% 39 87% 39 104% 103% 104% 92% 924 92% 108% 107% 108 108% 108% 108% 93% 93% 93% 67% 67% 67% 8T% 874 8T% 76 6% 76 67% 67 €% 64% 644 €4y 3% 8% 73% 99 9% 9 4% T4% T4% 5% 6% T6% 48 43 43 30% 30 30% €6 66% €5% o2% 92 92 86% 864 86% 94k 94 04y 87% 67% 67% 101% 101% 101% 5% 000 Proposed restrictions in transit privileges on cotton and cotton linters at Atlanta, Athens, Elberton and Winder, Ga., have been found justi- fled by the Interstate Commerce Com- mission. Announcement of the com- mission’s decision, made today, added that the schedules propesing to in- voke the restrictions had been dered cancelled. Other Ronds Supported Plea. The proposed schedule restrictions were filed by the Seaboard air line, but, according to the commission's record had the support of half a dozen other carriers handling cotton shipments. The Seahoard argued, in support of its contentions, that the Loulsville and Nashville and the other inter- smecting lines had threatened cancel- lation of joint rates on the com- modities Involved unless the privi- lege permitting concentration at the four cities named was abandoned. The commission said, however, that it ‘found no reason for canceliation of the joint rates and ordered them continued: ‘The transit arrangement malin- tained by the carrier at Atlanta and the other points are not exceptional or unusual,” the commission’s opinion sald. “Many other carriers in this territory have similar arrangements, and their connections participate in the through rates. = Rates Heid Reasonabl or- “We are of the opinion that the present joint rates on cotton from points on the lines of the Louisville and Nashville, Alabama and Vicks- burg, Illinois Central, Yazoo and His- sissippi Valley and the Southern rail- way to points in the southwestern, Carolina and eastern territories, with concentration in transit at Aflanta, Athens, Elberton and Winder, have riot been shown to be less than rea- sonable rates or otherwise unlawful. oy Offter. 99 8132 1 100 3-32 1 100 29-32 101 i 101 atest Ta s 100 5-32 argest prodi N eomes i “THe carrier has mot justified the cancellatbon of the concentration in transit of cotton at these four points, and the Louisville and Nashville and the other lines are not justified in re- fusing to participaté in such joint rates when shpments are nowd at Atlanta, Athens, Elberton and Winder for concentration.” Easily Explained. From the Baltimore News. . A New Yorker visiting English friends was lamenting leaving at home two beautiful daughters who were just budding into womanhood. Turning to a men to whom he had just been introduced, he asked if he had family. -::fi’x'mf o wife and ‘six chil- dren in Austrafia. And I never saw one of them,” hé added, quietly: The twg sat is silence. Then the R Ware you ever biind, may T ask sald the American. ‘ “No,” was the reply. “Did you marry a widow?" ¥No. ~ Amother nce. “Did 1 understand you to say you had a wife and six children liviog in Australta and had never seen one of them?” 3 “Yes, that is how I stated it." Then, the American inquired: “How, can that be? You say you never saw one oll_uun. 1 do not understand. it o Becauss” wis the reply, “onic of ! them was born after I left.” FINANCIAL. Grain, Produce and _ Live Stock LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, selected, can- dled, per dozen, 38; average receipts, 46; storage, 32a83. ' . Live poultry—Roosters, per b, 17; turkeys, per 1b., 30; spring chickens, per 1b, 30a32; keats, young, each, b0a 60: fowls, per Ib., 24a26. Dressed poultry — Fresh killed spring chickens, per Ib., 34a38; roos ers, per 1b., 30a35; hens, per 1b., 30a32; turkeys, per lb., 36a40; keats, young, each, 70a75. Live stock—Calves, choice, per Ib. 11: medfum, ‘per b, 10a10%; tht 6a’7. mb: pring, per 1b., Live pigs, 3.0 o 00 each; live hogs, per Ib., 9%. Green fruits—Apples, new, per bas- ket, 50a1.75. "California_oranges, per crate, 5.0026.50: Florida, 3.00a6.00. Lemons, per box, 6.00a7.50. Grape- frult, 4.00a4.50. Peaches, per crate, 1.30a3.00; %-bushel basket, 1.00a1.50. Grapes, Concord, 1.50a2.00; Delaware, 1.50a2.95; Niagara, 1.50a2.50. Vegetables—New potatoes, per bbl., No. 1, 4.50a5.00; No. 2, 2.00a2.50. New | Jersey potatoes, round, per bag, 4.00a 4267 New Jersey, giant potatoes, per bag, 3.00a3.25. New sweet potatoes, 3.5004.50 per bbl, New York let- tuce, per crate, 1.00a1.25. Romaine lettuce. per crate, 1.00ai.25. Cab- bage, per crate, 2.50a3.00; nearby, 1.50 al76 per bbl. Egeplant, per crate, 1.00a1.25. Tomatoes, 3%-bushel bas- ket, nearby, 4021.00. Beans, 1.50a2.60 per bbl. New York celery, per crate, 4.5085.50. ~ Squash, 1.00a1.50. Peppers, per crate, nearby, 50a75. Kale, per bbl., 1.50a2.00. Spinach, per crate, 1.00a1.60. ~ Home-grown 'lima beans, per quart, 20a35. New York cucum. bers, per bushel, 2.0023.00. Sugar corn, per dozen, 15a30. GRAIN AND PROVISIONS, BALTIMORE, September 15 (Spe- citl).—Potatoes, white, barrel, 1. 4.50; 100 pounds, 75a2.75; 150 pounds, 3.0084.00. sweets and yams, barrel, 1.2523.00; basket, 25a50. Beans, 508 €0; lima beans, bushel, 1.75a2.25; beets, hundred, ' 4.00a6.00; cabbage, hundred, 5.00210.00; carrots, hundred, 4.00a6.00; caulifiower, hamper, 2.00a 00; celery, dozen, 30a80; corn, dozen, 0. cucumbers, basket, 1.50a3.00; eggplants, basket, 35a40; lettuc bushel 50a1.25; onions, 100 pound: 2.00a3.75; peppers, basket, 25a50; squash, basket, 20a25; tomatoes, 25a 35; packing stock, bushel, 35a40; tur- nips, basket, 50a660. Apples, barrel, 1.50a2,50; bushel 50 al.25, basket, 20ad40. Cantaloupe crate, 1.00a2.75; crabapples, 50265 grapes, basket, 60a30; damsons, bush- el, 150a2.00; peaches, bushel, 1.00a 2.50; basket, 50a1.25. Pears, bushel, 1.50a3.00; basket, 25a21.00. Water- melons, each, 10a35. Selling Prices on Grain. ‘Wheat—No. 2 red winter, spot, 1.08%; No. 2 red winter, garlicky, spot, 1.01%; No. 3 red winter, gar- licky, spot, 93%. R Sales—None. Corn—Cob, new, 5.10 per barrel; No. 2 corn, spot, no quotations: track corn. yellow, No. 2 or better, 1.06 and 1.06%. Sales—None, 3 Oats—No. 2 white, new, 48%; No. white, new, 461 and 47. Rye—Nearby, 75a85 per bushel; No. rye, spot, 77% per bushel. Hay—Receipts, 145 tons. There is a fair demand for desirable grade of timothy and mixed hay at a range of 25.00 and 28.00 per ton. 5 Straw—No. 1 tangled rye, 15.00a 16.00; No. 1 wheat, 12.50a13.00; No. 1 oat, 13.00a14.00. TODAY'S CHICAGO PRICES. CHICAGO, September 15.—In sym- pathy with firmness of prices at Winnipeg and Liverpool, the wheat market here averaged a little higher today during the early dealings. Gos- sip was current, too, that recent ex- tremely bearish estimates of Canadian wheat production were calculated on acreage figures 1,500,000 acres too high. Besides, today's arrivals of wheat in Winnipeg, although heav were less 50 than had been expected, Chicago opening prices, which varied from unchanged figures to % higher, with December 1.02% to 1.03, and May 1.08%a1.08%, were followed by slight general gains and then something of a reaction, teisye Corn and _oats gwere -firmer with wheat and as a resuit of continued talk of froet damage to corn. After opening i@ higher, Décember. 6% a67, the corn market hardened a little more. Oats started wnchanged to % high- er; December, 40: Later all months showed a trifie gain. Provisions were firm in hog values. WHEAT— g BT P 1.081 10815 2 line with Low 9% 1011 Open. . 1,005 Decembe May OB eptember December May 0A’ September December May fees LARD September October ... RIBS— September D Losy 843 08 “68% 843, K 685 e 1212 1210 9.17 1212 0ld hens, Leghorns, 20a22; old roosters, ducks, 17a23; pigeons, palr, 25; guinea fowl, each, 40a80. Eggs—Loss off, native and nearby firsts, doz., 38; southern, 8. Butter—Creamery, good to fancy, b, 45a48; prints, - 48a50: nearby creamery, 35a40; ladles, 34a35; rolls, 31a33; store packed, 31; dairy prin 31a33; process butter, 38a$p. CHICAGO LIVE STOCK MARKET. CHICAGO, September 15 (United States Department of Agriculture).— Hogs—Receipts, 6,000 head; mostly steady; best lights weak to 10 lower; bulk good and cholce, 160 to 230 lbs. average, 9.05a9.25; practical top, short lead, 9.30; desirable 240 to 340 1b. butchers, 8.60a9.00; packing sows, 7.50a7.75; estimated holdover, ‘5,000 head. Cattle—Receipts, 1,000 head; compar- ed week ago native beef steers, ex- cept_striotly choice weighty kind, 50 cents higher; yvearlings, 50a75 cents higher; spots, more top matured steers,” 12.95; best vearlings, 1 new top for year; best heifers, 11.15 fat she stock, 25a50 higher; canners and cutters, ' 25 higher; bulls, 50 higher; * vealers, 1.00a1.50 higher; stockers and feeders, steady to strong; bulk prices follow; Fat native steers, 9.15a11.35; butcher cows and heifers, 4.35a8.75; canners and cutters, 2.75a3.40 vealérs, 12.25012.75; stockers and feeders, 5.75a7.65. Sheep—Rceipts, 1,000 head; today’s receipts mostly native lambs: market generally steady: best, 14.50 for week; estern lambs, 3.10, doubles; compared week ago. all classes unevenly higher; fat lambs, mostly:'1.50; culls, 1.00a 1.50; feeding lambs, 40a50 fat year lings, 1.00; fat aged stock, 25a50 feeders, 14.00; rices ' follow 1, natives, 9.50 g 10.00a11.50: " fat wethers, 7.75a8.75 Tat ewes, 6.5006.75 feeding lambs, 13.25a14.00. $6,000,000 L. & N. BOND ISSUE GIVEN APPROVAL The Interstate Commerce Commis sion has approved an isSue of $6,000,- 000 in equipment trust certificates by the Loulsville and Nashville Railroad Company. The issue will bear 5 per cent interest and will be sold at not less than 96 per cent of par. The proceeds will be applied to the pur- chase of equipment costing $7,624,000 and including 2,300 coal cars, 51 pas. senger coaches and 36 locomotives. WORLD’S DEEPEST IRON BEGUN IN MICHIGAN Special Dispateh to The Star. BES! Mich., September 15.— ‘Work now is in progress on what will be the deepest iron mine in the world. men @ day are working on the of the Geneya mine of the Oliver Mining Company, a United States Steel subsidiary, which now fa, 400 feet deep ‘and ‘which wilt be sunk tc 4,000 feet in the next two and a half years. Owing to the hardness of the formation only five feet a day can be sunk, P |period of 1922, BANKERS 70 SEEK AID FOR FARMERS Plan to Study Problems at * Convention—Bank Clear- ings Drop. Special attention to the difficulties of the farmer, and to practical solu- tions for his problems, will feature the sesslon of the state bank division of the American Bankers' Association jat its annual convention to be held in Atlanti¢ City, N. J., September 21 to 27. A report on the prolonged fa- tion-wide investigation .of the co- operative farm marketing movement conducted by the division will be pre- sented for discuesion at the meeting, which will be Wednesday afternoon, September 26, at Haddon Hall. Following the address of the d vision president, H. A. McCauley, ther Wwill be an address on “Co-operative Farm Marketing” by Carl Willlams, president of the American. Cotton Growers Exchange, Oklahoma City, and an ‘addre “Standard State Banking,” by E.' H. Wolcott, bank commissioner of Indiana. The following reports will be pre- sented: Federal legislative commit- tee, #tate legislative committee, farm finance committee, public service committee committee on change. Bank Clearings Decrease. Another decrease appears in bank clearings this week, an aggregate of $5,916.445,000 at leading cities of, the United States being 4.9 per_cent be- low ‘the total reported to Dun's re- view a year ago. An increase of per cent, however, is shown in com- parison ‘with the amount for this and ex- S The loss from the clearings of a year ago is wholly due to the small- er figures at New York city, whers a reduction of 13.8 per cent i9 noted. In contrast, cities outside of the me- tropolis report a gain of 9.9 per cent, Kansas City and Omaha alone of the centers included in the statement showing decreases. The largest in- crease Is one of 57.4 per cent ar [?flar“?':'n:llhne gzlns of more lhlnbfl‘) n each case - trolt and Los Angeles. "0 oor ot D€ New Bond Issue on Sale, 5. W. Straus & Co. have purch and are offering an ssue of $1.918.000 Natfonal City Holding Company first mortgage 6% per cent seriaj coupén s:)onfidxl' sceiureg by the Land and Na- nai Ci an 1din, - Elonst City k bullding, Los An These bonds mature in two and’ half (o cighteen and a half yere with interest coupons payal 1 and February 1. DT e Fewer Failures Reported. The number of faflures in United States still shows reduc from that of a vear ago, a tota 296 being reported to R. &. Dun this week. This compares ‘with 333 defaults in the same period of 1922—a decrease of more than 10 per cent. The number, involving $5,000 or more of liabilities in each case, is also less than in this week of last vear, the re- spective totals being 147 and 203. The ratio of these failures to the aggre- Eate number this week is 49.7 per nt, whereas a year vas DG{ Pl Yy ago it was 61 Numbering 47, Canadian de: this week compare with 58 intGns same period of 1922, and 23 defaults -for $5.000 or more of indebtedness .in each instance contrast with 34 simi~ lar insolvencies in the earller year. Bradstreet's Trade Review. Bradstreet's current review of trade and business conditions says, in part: Trade Industrial and crop reports are spotted, But cooler weather, the advance of 'the season and the sharp rise in cotton, which was 7 cents above the low point of July at one time, have quickened fall buying In primary markets in the west and parts of the south, motably Texas, where cotton marketing is brisk &t pricas_nearly § cents above a year ago. Reports from the iron and steel, lumber and canned and dried fish and fruit trades mote the stimulating effect of possible buying for Japanese account The passing of the anthraeite coal strike menace and the victory of the miners shift public congern from the subject of supply to that of the price f that fuel HIS ART IS SIMPLICITY. Marion Crawford’s Fame as a Nov- elist Due to “Readability.” i From the Kansas City Star. the tion 1 of & Co. 5| Marion Crawford, of course, looked iat his work from the very simplest ground, . wri s ‘Hugh ~Walpole in the Yale Review.. He:published once ra treatiée ‘on the novel .in which - he howed that this art, now elaborated and sophisticated by the clever brains of our da to {ts very furthest limits, Was, for him, something that could not possibly be too simple. He waws a story-teller, first, last and all the time, and he was a story-teller, too, of the traveler kind, standing beside Conrad, at least in this, that he had no ambition but to make his reader see, feel and hear the things that he saw, felt and heard.. And these same things. unlike Conrad's, were often of the very last Ingenuous maivete. It was this same naivete that led the critics to disregard so quickly any thing that he had to say, and yet, when he was not dealing with th modern world, this simplicity had its merit: The Tliad and the Norse Sages are in this fashion nalve, ~and, although Crawford could not, of course, cap- ture anything of: thelr magnificent sweep of poetry and universal sym- bolism, he did succeed through the very Simplicity of his characters in lending o _certain herolc guality fo his tales, He had also In theso storfes the great advantage of never at- tempting erudition. He never tried to tell the story from the contem porary standpoint. He was rather as & modern traveler wbout the world Who, having ‘seen with his own'eyes Rome and Sicily, the Arabian deserf and the haunted palaces of Madrid imagines for his own satisfaction and pleasure some picture of movin Higures and swiftly passing event that it pleases him to tell to thos who, simple like himself, wish x? listor. He pretends to- nothing, an |this very honesty, which has, been found by so many clever readers too childlike to be borne, is for others something of a relief ‘after' the deep erudition and sparkling brightness of fmore brilliant writers. THACKERAY AND BUNYAN. From the New York Evening Post. Apropos of ignorance in high places, the president of Magdalen College, Sir Herbert Warren, told an interesi- ing story of Thackeray at’ the uni- versity extension inaugural meeting at Oxford. “Thackeray, peared in Oxford in various capaci tles, once as a political candidate,-an on another occasion as-a lecturer on. “The Four Georges.” He: appMled: to; the then vice chancello! ersity, who figures in “Verdant Graen” as F¥. P., for per- mission; to lecture, and the following conversation took ‘place ‘Who are you? asked Plumptre. Thackeray replied: ‘I am an au- thor.’ I think I am falrly well kgown.’ ¢ ““Will you tell me the names of some of your works? said the. ¥ice chancellor. . Z “Well,' sald. Thackeray, ‘I think . on the whole the work of mina whicH is known is. “Vanity Fair.”’ h,' replied. Dr. Plumptre. ‘T seem somehow to ,confiect thit with the namé of Bunyan!' ™ ) the vice chancelior .was satisfied to allow Thaok: eray to deliver his lectures, saig Sir Herbert, “ap- .. Dr. Plump-~ -