The Seattle Star Newspaper, October 5, 1920, Page 12

ee | Inevitable Decline to Pre-| War Basis Interpreted by Financial Editor BY JOHN W. HILL Financial Editor Iron Trade Review Henry Ford's back somersault to prewar prices was the ‘bombahell | Which exploded the hopes of seliers| Who thought to lure back business) activity by some magic other than Brice concessions, They have a clear. ‘understanding now that war and war profits are doomed, that in many cases losses must SB tewtmed | ‘The present wave is not new or ing. It is merely an accentua ‘of the price reaction which has J quietly working in this country In all industrial nations since spring. It if the shattering of prosperity and false values. | ‘their place there is being built a for bedrock, sober pros) High wages will recede more slow: the cost of living. High taxes high freight rates constitute tal production costa which must be reckoned with. DROP MEAN CHAOS smashing of all values over-) would hurl the country Into/ chaos. Therefore, efforts) | being made to keep the process “deflation orderly, It is always! to walk down stairs than to out of the window, does not mean that no com-) will reach the prewar level.) silk, wool and hides are at, ‘OF near, their 1913 quotations now./ Raw rubber is some 9 per cent be} its prewar price. In all of these te there is a degree of over: | usually happens, retail prices ire not speedily reflecting the reduc- ‘ im the wholesale trade. Until) i Weeks ago hope was enter) 4 it the necessities of the sea- tart a fresh buying move- has not happened. An- shrewd financiers believe ‘that the creation of almest $20,000,- 000,000 in new wealth this year in ropa will help to bolster up business | Activities, So far, however, farmers have been as backward about buying @s any other class. ip TRON AND STEEL —The one! Retuble exception to the general) of prices has been in the tron| steel industry. Its price level maintained by large unfilled) @rders, But the underlying position! _ AUTO PRICES—The reduction of Forts has centered attention upon the automobile industry. Altho the Ferd announcement at first was! Breeted in a hostile manner by other! Motor producers, some have already | fallen in line, and others are certain ‘to follow, sooner or later. FOREIGN TRADE —The abund of goods on domestic markets ts ‘explained by falling exports ‘and expanding imports. The August) excess of exports, totaling’ $ -000,- | 000, was the lowest of any month since October, 1914. The month's im- Ports increased 68 per cent oveg 1919, While exports decreased 9 per cent The August record was also lower! than July, whereas in former years) an expansion usyally occurred. | DOLLAR ING—War infia-| tion humbled t® almighty dollar. In| June it was worth 37 cents compared With pre-wasy values. Lower com Modity prices are reviving the dol- td drugged self-respect. Nothing this more vividly’ than the Fecent recovery of Liberty bond prices. The advance in bond quota. tions also reflects the easier credit @tuation. This has resulted from! falling prices and remarkable clear-! Ing away of goods’ congestion by the railroads. LABOR SITUATION—The bureau of labor reports that out of 14 indus ‘tries surveyed in August, 10 showed) fewer employes than in July. This is due to diminished industrial activity. Rapidiy-growing immigration will further increase the labor supply, and cause readjustment of the wages of common labor. Immigrants are now pouring into the country at the Fate of over 1,000,000 a year. This is equal to the peak of pre-war immi- Gration. | HAS BANQUET: Celebrates Reaching New Goal in Deposits The Washington Mutual Savings tank gave a banquet to 37 of its] officers and employes Monday night at the Hotel Washington's banquet foom, in celebration of the attain ment by the institution of more than $12,000,000 in deposits. This is in accordance with a custom of the bank established ‘when it reached its first million of deposits in 1911, Raymond Kk. ‘was toastmaster. teresting account of the early his- tory of the institution, He told several anecdotes relating to steps in the bank's progress. { Herman Chapin, former president, | followed, with a talk on early days in the bank. Other speakers included William Peters, trustee and counsel; William ‘Thaanum, vice president; Herbert Bryant, atiditor; Walter J. Ward,| assistant secretary, and Miss Lila Blackwell, secretary to the presi-! Frazier, president, He gave an in- [United States shipping board will be) loge Rig Ponansa tn tow at 10:30 TUPRSDAY WEDNESDAY ocr, 6 OcT, @ Second High Tide Ott pom, AL Lande pm, 90 ee] HUGE SHIPYARD || exchange today NEW YORK, Oct. 5 Opening prices Included troleum 187, up M% Maven 96%, up 56%. up %&) Southern Railway 324, Southern Pacific 09% nohange Anaconda 63, SUIT DROPPED $3,000,000 Action by Sloan) ~ Co. Dismissed The sult for $3,000,000 brought against the United States shipping board in the federal court here by} the Sloan Shipyards company has/ been dismissed by order of District Judge Jeremiah Neterer, on the grounds that the district court ts 131%, Up %) United States Rubber 27%. up W: Canadian Pacific 1284 Practionlly the entire Hat #h and industrials, with I ipated tn the gaina Mexican mong the last te other lines, wed make the u Chi Furnished by L. B. ce 610 Sewond Avenue Grain Reets, Cont wheat ‘ without jurisdiction The suit was brought to recover | damages alle: to have resulted when the shipbuilding plant was taken over by the shipping board and put to the use of the govern ment “Since the amount involved is more than $10,000, the decision ds, “this court has not jurisdic tion. Federal Judge Cushman of ‘Tacoma concurs with Judge Neterer in dismissal of the suit EXTEND DATE ON U.S, SHIP BIDS PORTLAND, Oct. 5.—-Bida for the! entire Pacific coast equipment of the received until October 16, it Is an- nounced. October 1 was the original closing date. From Weather Bureau TATOOSH IBLAND, Oct. b—# AM Failing barometer, raining: wind north- miles an hour, Passed out: A od schooner at $130 a. m. | October t—=11:30 A. M.—Cloudy; wind 15 miles an hour, Passed out; Str erett at 10°30 a m.; str, Mukilteo with | a m;| str Richmond with bye No. 86 at 3:20) p.m. | Octoder S-—Str Queen from San Diego | via Han Francisco at 5:30 a. m. October 4 Anyou towing bee Hen- ypeum at & tr from Tacoma at 3 pm: str Ad from Tacoma at 6:30 Ralled October Str Admiral Farragut for Han Diego via Ban Francisce at noon: att Kashima Maru for Yokohama and Kobe | at 10:40 a. m.; ate West Katan for Te- mm 4:20 & m. October 4—Str Davenport for fan Pe- fro via Puget Hound ports at noon; str Alaska for Tacoma at midnight: str Amur for British Columbian ports at 1:45 m.; bk Guy C, Goss for Port Diakely towing at 3 pm ee Alaskan Veseeld Sailed October 4: Ste Admiral southbound. Pr of Seattle, northbound. a! lw | cCHIcaa 18,000 head Oct. b—Mowe market 40¢ Receipts, lower king tiene bi828 @12; rough | 18.76, Cattle—Receipts, higher. Heet, 43.780 12.60 ' ckers and feeders. cows, $5615.50 Bheep— Kecetp 2he higher, Lambe, @s.00 N. Y. Coffee and Sugar NEW YORK, Oct Sugar Naw, te per Ih. aranulated per Th Coffee—-No, 1 Rio, T%@be per Ib; No. 4 Bantos, 12K @12%e per Ib, 4.000 head: market W9@14.25; buteher canners and cutters, seers oo, calves, $140 17.60, 000 head; market 13.40, ewes, $4.50 3 “ Foreign Exchange the up at $2 opened ¢, Up 1 centime: 4110, off 2 ft % centime; [Vital Statistics] MARRIAGE LICENSES Name and Residence Age Johnaon, Charlie, Seattle ... aon, Maric, Seattle Wall, James N. Seattice Mehaffey, Jessie G. Beattle inburn, Gua, Seattle .......Le Shelton, tense L., Seattie. . Le Long, Orville R., Sedro-Woolley Myers Mra. Carrie M. Sedro- Vootley ° e Matson, Elmer A, Concrete Laurin, Laura ©. Springda Olson, HO. Sedro-W Becraft, Irene 8, Sedre Everett MH, Redmond ether, Plentywood, Mont Thomas G. jemttle. Legal Lillian A. Seattle egal De Witt, Floyd P., Seattle Dennison, Myrtie. Seattle Turner, Oncar D.. Seattle Chalk, V Be je Haskell, Willard D. Seattle Reed, Florence J.. Seattle Harvey, George BK, Fort Flagler Trudeau, Louise, MeNiel Buehler, John J, Twin Idaho Daniger, idaho Hanson, Carl G Robertson, Anna M, Enumelaw . Knapp, Edward W., Seattle Buer, Hannah A., Seattic | Black, Frank G.. Seattle Pryor, Mary L., Seattle Allen, Isidore A. Los An 20 Legal le Falls, ‘Katherine EB, Pocatelio, numelaw pm Ketchikan—fiailed October 3: Str City of Beattie, southbound, at 11 p.m. ee Vessels in Other Ports Kobe—Salled October 1: Btr Bove! for Beattie Man Francisco—Arrived October 4: Str Governor trom Seattle via’ Victoria, B. Cy at 19 p.m. ‘anaime, B. C.—Halled October 44 str herine D for Tacoma. Rellingbam—Katled October ath for San Francisco. Tacoma—Arrived October 6: Str Went atan from Seattle; str Alaska from Be- tie. Port Blakely—Arrlred October Guy ©. Goss from Seattle, towing; St. Paul from Seattle, towing. eee 4: Ste Ki or Rpokane 94 miles south of Ketchikan, southbound, at § p.m. | October +—Htr D leaving mo, southbound, at 6:15 p.m. N Beattie for Ban Pe Tatoosh at 1 p. m.: Fretlinghi c out # th of str Richmond for Ban ate Derby, Seattle north of Columb! Vessels in Port at Seattle Smith Cove anchorage—Bee Henry Vil- Elwell, str Ixton, r Anyox. terminal r Skagway, Str City of Bpo- + Edmore. Pier 5 Her 2 acitic ¢ Sword Pier B—Str Queen D—#tr Admiral Farragut. worke—BStr P Pe it coal bunkers—#tr Eastern ey at 7. & C. Burnside. nford at. terminal—Bee J. D, Peters Str Griffau, str Maquan terminal—Str Eemdyk, Westward Ho, + Elihu Thomason, Hridge & Dredging plant— ake Union—Hulla Abit ydos, Addison, Allen thon, Bayden, Bertrand, Biscayne, Houghton, Capraria Cheaterfiota Corus, Cozian, ri ymi rixon, Fort Fort. Union Loot, Vincennes, sehr Salvator, Ames yardn—itr Roosevelt Heffernan Arydocke—schr str Brookdale Wont Seattle elevator—Str Kaynecka, | King & Wingo—Motor echr Wakena, FREIGHT RATE ROW SETTLED All the kick was taken from the argument over freight rates before the interstate commerce commission when the carriers Tyesday with drew their objections over the pro- powed adjustment Freight rates the Caschdes will formerly in effect, crease of August 26 The commission adjourned. P « uta, rdia, Chalets, Cinyras, Co inna Fort Stanwix, Commodore, lines west of now be those plus the in on BANK CLEARID | ‘ (Shor SM nicemdeditastuen | c ., when of 13 men in thou day Clearings Balances . | | 7,101,261.33 s + 1,485,079.10 Kitan, | Kane, Gertrude M., Seatt Mikkelson, Bernt, Seattle Anderson, Anna, Seattle .. Kelly, Clarence B.. Seattle Craig, Mildred ‘ Hartwig, Cart. Portiand nese Mittlestaldt, Marie, Snohomish Howell, Es James, Port Gamble Lowa! Snyder, Hazel F. Seattle Legal BIRTHS Kitsuma, Hariyo, 647 Weller st. boy [Stein, Joseph J. 2711 Ferdinand st | boy ward Griffin, John F., boy Jones, Ward, 1052 Thomas at. girl nnerton, Owen FE. 422% 10th N, . ir Frederick, 117% First ave. 3329 Hunter bivd., ny Kimura, Torakich!, 618% King, girl. Otani, Shor, 425 12th ave. &, girl Stasen, Vinson P., 2220 Western ave. boy Tribou, Leslie N., 1120 28th ave. Wright. F. H., €503 48th 8, gir W., 4855 Rainier girl 1. \Jenaen, Max, 408 W. McGraw at. boy. DEATHS Root, Anna L. 66, 4135 Midvale ave | Hasagaw nt, Highlands. 2010 Westlake. 72, 9923 Angel pl. | fa, 124 17th ave. N. Denny wa 41, 1238 boy 1 ave. Depenning, Hui | Levy, Lena, 61. Hendry, James ave. y 20th L, 125 Business Men to Leave on Trade Tour | About 125 Seattle business men, representing 32 firma, will take part in the trade excursion to Eastern Washington, starting October 17 and? returning a week later The Cham. ber of Commerce has a few reserva. | tions left. Plays Piano for 110 | Hours; New Record LONDON, Oct, 5.—Profesnor Al bert Kemp completed a world’s rec: | ord non-stop planoplaying perform: | ance of 110 hours, He beat by four hours the record made by Wright, | the New Zealander. During his record-breaking performance Pro- fessor Kemp ate no meat, but was fed with milk, fish and eggs. HOW COME, DOCTOR? | Doctor (to old lady)>—"Yes, my dear madam, those pains in your left leg come with age. Patient (with suspicion)—""Yes, doc tor, but my right leg is just as old ag my left, and I have no pains in it.” A French jeweler has invented tools to engrave the surfaces of dla- monds, | If @ man is @ coward, he always claims to be conservative, J Industrials, Oils and Steels Advance | on New York Marke United Btat unchanged %; New York Central oft % Jdwin Locomotive leading the latter group, part troleum went above 189 and Pan-Americ Legal | U 1 THE SEATTLE STAR | ARTICHOKES ~~ IN FROM CAL. ‘Potatoes Easier; Ladyfinger Grapes in; Eggs Up Stocks were higher at the opening of the stock Artichokes from California are of Mexican Pe-| fered on the market Tuesday at ft \%; New| $1.26 to $1.60 a doren, up %) Amerie Locomotive Potatoes were easier at 2 cents a Haltimore & Ohio 47%, off 4; | Pound fot Yakima Gema and a quar 25%, up M4: Crucible Beet | ter of a lens for locals, Green Mi Kansas City Southern wearce at 10 cents @ Rteel 87%. up Mi Goodrich 60, %, ft teading up are peppers pound A car of Ladyfinger grapes sold at $3.50 crate, Peach offerings are becoming shy with prices rang ing from $1.26 to $2 Ranch ege» registered another 3 nt jump ‘Tuesday, the new quota tion being 75 cents a dozen, Pub lets, at 60¢, recorded no change, Local Markets Prices Paid Whalrante Dealers for Veactabice and Frait 19%, gains in early trading, Steels, olle n above 91, Olle vanced with the le pturn, Tob N. Y. Stock Exchange Furnished by 1. 610 Second Avenue High Low um 8eM 11% iM oN Deet Hugar Car & Fury Meets Por eack * Hell Peppers—Per lug . Baldwin Lacon tee! "HH adian Pacitte Central Leather Y darten eat Northern Industrial Aleohot Pickling Oniome—Per 16-T™, ort Potatore— ber RB Wash Local oe Punpkine-Local, per . . Khoberb—Per Th |... Per mack .+ rs ; troleum Missourt Pacific New Haven Northern Pacific Pan-Amer, Petroleum 92 Local, outdoor «+ Green, per be Turnipe—toen! Vegetable Marre: Vame—Louleiana FRUITS Washington . per sack 5 Fer 1. oy 05 Apple — astern Local cooking ote Aligntor Peare—Florida, doe Cal : Namanse—ler th Marckherrire Per erate Cantalonpes Wash Casahas Ver Tb Crabappics —toral Cranberries? Dates--Per case ‘ Ketali #tores shares. LIBERTY BONDS Mich Low one bLbe Close! Touny 92.8 Grape Froit—Cai 00 Green Wigs Ver box ° 00 Haney-Comd, per erate “ ts “ A leberries Cream Metone— Per %. ue! 20 tee Fifth 24" Pith (6 Total sales, Pike PLACe . fine cane tite . Strawberries Rverbearing, Turkish Melons ——Tokima, per erate Watermelons Per Cal os Peanste—-Viret! Japanese, per ooeee Perane—Per %. .. : DAIRY PRropDUi Prices Paid to Shippers cane | Mattertat . < | Rgge-Fresh ranch tnon fresh | Pollete . m red snapper, | Mila-—Der owt = | DAIRY PRODUCTS HCONOMY Prices Paid Wholesale ok Local creamery mackerel, ibe i, 2 The ate bacon, iat cubes butter hm #t fer, 4 a ihe Chino peas, 1-™. can $1.90 fine Japan rice. a r WESTLAKE pure Ame Mtall 131, ¢ phe: Cream B. coffee, se aronl cheese, © at tall of Whe T Stall new Nene Fakime.{ 4 He and up 192, 36 1 gal. cane and phage, Creamottes, maple ayr Sta 1 | Ducke—Dressed ... Hrotlers Dressed Hane reseed SANITARY 102, 4 Ibe fine American cane 400, fresh ground peanut butter. Stall 45, 60e Royal baking 29¢) Old Dutoh Cleanser, farina, 220 & tion or Bord yellow label tea, fast Bell syrup, Priece loge Fancy f Feld to Shippers 2 v can Sireak- O. K. Congress Siege for Duwamish Aid| The movement to secure congres- sional appropriation for the deepen. ing and widening of the Duwamish waterway was given bearty support at 4 meeting of the Industrial Asso. ciation of the South End, held in Blane’s cafe Monday. Senator Wenley L. Jones and Con. gressman John F. Miller were among the speakers. M Rough heavy Pigw TAKE THE BOAT TO TACOMA BOATS LEAVE COLMAN DOCK Z, ®, 11 A. M., 1,9, 5, 7, 8 oP, M, ER AY. Hest and ay to Go, nouND $4] .20 sincur 70c Tur —~ yaARK Including Cigarets of the total value of $400 were stolen by’ burglars who looted the North Coast Grocery and Trad ing Co., 617 Maynard ave., according to a police report on file Tuesday. Cheapest Many a girl's ideal iy shattered | when her fiance goes broke. Invest Your Savings Carefully It has been shown that $3,000,000.00 are loxt annually by Seattle savers who confidently in- vest their money in get-rich-quick schemes, Be cautious. Consult your banker tended investments, He can valuable advice about conte! about In- give you much rplated investments, Savings Department open Saturday Evening from 6 for your conventence. The Seattle National Bank Second Avenue at Columbia = na 1 ATT TURSDAY, OCTOBER 5, 1920. 07% ON SAVINGS PER ANNUM Compounded Semi-Annually is the least paid Savers in thin Ansso- clation for more than elght years. This Profitable Return has been made in addition to guaranteeing Absolute Se- curity for all funds entrusted to our care by reason of the Protection afforded by Sound and Efficient Management under Strict State Supervision. The mutual savings and loan associa- tion system of operation, with expenses limited by law, is the highest type of sav- ings institution, as well as the most eco- nomical in operation, thus giving the most substantial returns to savers without im- pairing in the slightest funds of members, which can only be invested in securities approved by the State. Further protection for savers is assured by the character and standing of the men having direction of our management. SAVINGS LEFT HERE TODAY WILL EARN THREE MONTHS’ DIVIDENDS BY JANUARY FIRST - TRUSTEES THOMAS 8. LIPPY GEORGE R. HANNON HENRY R. KING FERGUSON JANSEN F. W. SHILLESTAD EDGAR E, CUSHING WILLIAM D, COMER RAPS ROBINS AND PINCHOT |France Charges Pair Flop- ped From Progressives A stinging open letter was ad | drenned today by C. J. France, farm | erlabor party candidate for congress, to Raymond Robins and Gifford Pin- | chot | In the letter France charges them | with backsliding from the progres: | | sive principles of Moosevelt, to which he ways they adhered in 1912, and aligning themselves with Harding. | ifford Pinchot,” sayn the letter, | | “you, the great advocate of con-| |servation of our natural resources, | | how can you urge the name of Hard ling on your fellow citizens? Have you forgotten that Harding voted for the vicious Shields water power |bill? Have you forgotten Harding | voted against every measure to con- serve the nation’s natural resources for the people? “Do you not remember the sneers, and the contumely heaped on Gifford Pinchot by Hard-| ing and the greatest robber barons of history—who usurped our timber, 1. our coal, and now are taking from the people the last and most precious heritage, water power “Raymond Robins, philanthropist, | friend of little children, exponent of liberty, how can you urge your fel low Americans to support « man like Harding? Harding, stood in hilent |approval while Attorney General! Palmer trampled upen the constitu tion of the United States and dene. | erated the highest traditions of a! free people. Did Harding ever raise | hia voice In the United Btates senate | when our most sacred liberties —free | speech, free press and free assem. | ment of justicet”* | Cattio— | Hest steers .. Medium to . and heifers wae) FEED Tes. City Price HAY, GRAIN AND Wholeenle Price Per Three of Edmonton’s Twenty-six Banks and Branches WE OFFER, SUBJECT TO PRIOR SALE AND CHANGE IN PRICE— AN ADDITIONAL $750,000 CITY OF EDMONTON Province of Alberta General Obligation 6% Gold Notes. We are fortunate, indeed, in having been able to secure this addition- al allotment of 6% Gold Notes of the City of Edmonton, the capital and metropolis of the Great Northwest. 9% Yield Denominations $100, $500, $1,000 Principal and semi-annual interest (March b «Phew hy arom) » =, in United es Gold Coin in New Yor office of Morris Brothers, Inc. | “™¢ S* the Exempt From Dated September 1, 1920 Maturities as follows $200,000 due September 1, 1922; $300,000 due September 1, 192 $150,000 due September 1, 1924; price 94.82 price 92.45 price 90.28 FINANCIAL STATEMENT ees + $86,606,715.00 Value municipal property (not 11,035,376.00 Net debenture debt Revenue from public utilities Net local improvement debt (rate payers’ share).. In addition to being General Obligation Notes, these are secured by long-time Debentures totalling $2,594,420,00. great tributary district to the doors of Ed- monton's warehouses for further distribution and shipment. Pulling out of Edmonton these rains n with the supplies ai aa mont required in this vast empire oe Sdmonton with its wide thorough: comfortable homes and beauttuls waene buildings is truly a modern city. All public utilities are owned and operated by the city; these include Light and Power Service, Street Railway System, Telephone System and the Waterworks. Surrounded by natural and sources and supporte y dt manufacturing and. Industrial enterprisec together with their branches and Edmonton will retain its position as one ol lines, carry the products the foremost cities in Western Canada. Legality approved by Malone, Malone & Long, Toronto, Canada. With 26 banks and branches operating in Edmonton, this progressive city of 60,000 to 70,000 people is the financial center as well capital of the Provinee.of Alberta, banks serve as a clearing house for the wealth in and surrounding this bustling city, Into them pour the resources of Ed- monton’s industrial enterprises, and the money derived from the great agricultural, wheat and stock-raising country that claims Edmonton for its financial center. Similarly Edmonton is the great, railway and distributing center between Winnipeg Pacific Coast. Three transcontinental ricultural re- Telephone or Telegraph Orders at Our Expense ORRIS BROTHERS, Inc. Af i