The Seattle Star Newspaper, May 26, 1921, Page 12

THE SEATTLE STAR 'Battered Stocks Go _|CANTELOUPES THURSDAY, MAY 26, 1921. LOCAL FINANCE FARMERS WIN _ Mecessity of selling abroad SPEAKS ON ‘STRADE Tells Star Correspondent! How We Can Meet World Competition RY HL. N. RICKEY NEW YORK, May 26.—1 have just had a most interesting talk with! Prank A. Vandertip at his home at} Gearborough.on-the-Hudson, Vander Mp ought to know and probably does inew as much about American for olen trade, especially its financial a» peots, as any man in the country For ten years, 1909 to 1919, he was resident of the National City bank | of New York, the biggest national) hank in America, He organised and | i now the chairman of the board of Mirectors of the American Interna tonal corporation and is a director | © and member of the finance committee of the International Mercantile Ma rine Co. SOUGHT VIEWS ON FOREIGN TRADE Tt was to get Vanderlip'’s views on | this important subject of foreign trade that I arranged for the inter view. My first question was: “To what) extent does the future prosperity of ‘this country depend on the develop ment of foreign trade?" “It may surprise you to have me gay that I do not take the extreme) Position that this country cannot en Jey & fair degree of prosperity with Out developing a great overseas ex port trade,” was the answer. “Of course I do not take the other @xtreme position that we are so self Sufficient and self-contained as a na tion that foreign trade is a factor that need not be considered, Some- | where between these two extremes of | Opinion lies the real truth. We can- Rot attain the high state of prosper- ity to which our natural wealth, bust Bess genius and population entitle us without at least a normal foreign trade development.” “Is the problem of the develop Ment of American foreign trade, to the extent that it is a problem, a thing that can be solved government or is it the problem of American = in its private capacity?” oe FOR BUSINESS PRIVATE CAPACITY “Broadly speaking it is a problem for business in its private capacity ‘Ido not mean that the government sympathetic understafding and ef cannot help. But it can only Position as a creditor nation, with ‘put causing a shrinkage in industry ‘and continued unemployment?” “Quite possible, if we recognize the those _ things which we can produce more cheaply than other nations and buy- ing from abroad those things which Other nations can produce more _ cheaply than we can. _ “Foreign trade is not a onesided @rrangement. In the final analysis the only way, we can be paid for Taw ma and manufactured goeds we export is to take goods in exchange. “As the basis for building up our foreign trade in the new era which ‘We are now entering we must ex fend long-time credits. Also we must be prepared to invest our surplus in foreign securities. This is the policy that made possible England's for- eign trade development. Before the war the total of England's foreign security holdings was about 20 bil- Yion dollars. To maintain our pres- €Nt\ position as a creditor nation our foreign investments ought to reach 40 billions.” iN’'T EXPECT RETURN PRE-WAR LEVEL I asked Vanderlip at what point, in his opinion, the commodity price level and the wage level would be established in this country, with ref. erence to the pre-war levels. “No man can answer thie with ex. actness,” he said, “because of the many factors involved, I am posi. tive, however, that neither average prices nor wages will go back to where they were pre-war. So far as ‘wages are concerned they ought no to go back, because they were too low. And, of course, prices to a con- siderable extent are controlled by wages.” “Short Jury” in Chester’s Trial KANSAS CITY, Mo., May 26—Le- gality of murder trial proceedings conducted before a jury of 11 men threatened to disrupt the hearing of Densel Chester, accused of the mur- der of Miss Florence Barton, shortly before the case was resumed today in the criminal court here. Despite an agreement of defense and prosecution before the testimony started Wednesday that the defense would not take advantage of the “short jury,”’ and ank retrial, attor Mey began looking up supreme court records for » ereredent, Tides in Seattle WEDNPADAY THURSDAY MAY WELL GET FU A squadron of ships * been ordered by partne ttle te American celebrate of July help the Legion Fourth Weather Baten Report | eens Ter Sires, wend | or Arrivals and Departures |; Arrived | May 25 140 po Britten Columbia porta Balled Str Lehigh for Portland. Alaska for Siberian ports, 6:30 ste Durban Maru for New York, oe Alaskan Vessels . Gatled, otr ailed, ote Aa om: oe ap Vessels in Other Ports 81 —Arriv or Bit La + Arrived, a City from Seattle. AN PRDRO—May 2% President Beatthe, at noon, str President for San Franctece, str Bpectato Seattle, € pm. fan F May 2¢--#ailed, Horaisan Maru for Seattle, 2 pom: Steel Age for Seattle, 3 p.m ese Reported by Wireless Received by U. & Noval Radio tr West ¢ Birming he Arrived. on m wr! ated, | | Up Again on Market NEW YORK, May 26 tone at the oponing today have be pounded hardest in the early 7 yesterday's | 8O The stook and destroy: | the navy | Sine earnin Pennsylvania re |imonths, against | O. net operating income for the well. Naldwin was the feature around noon ‘Traders sho | four points from yesterday's low, jing the Haldwin dividend proapects }by the Haidwin advance, many #h points, | The early market later turned dull advances. About the only ¢ which ran up to 82% he & GRAIN MARKET 1S OFF AGAIN CTTICAGO, Koard of Provisions were | a another "se pened at 39 \ 6, he lower pened off Ke at 41e nf Me. Heptember oats opened at . off Ke, = closed Seo lower, “- Cash Wheat Cash wheat ne | Chicago Board of Trade} (Tharsday’s y he ort Me July oats and closed 4 Trunk Pacific Terminal—@tr City | io Seattle. Mo! Pier 6—Str Pier 2—Str Cordova, Pier A—St Rodman, hater Goodrten. Pacific Coast Coal Dunkere—U SL & Swiftsure, & Shipping Board ™ tr Westward Mo, str Eastern Glen, str Icontum, etr Tippecance, str Yosemite. Connectiont Street Terminal—Str Steel Yoyneer. Alaska Steamship Moorings—atr Redon- do. Kast Waterway Dock & Warshouse—str West Canon. Todd Dry Docks—Str West It ete Forest King, str West Ivia, schr Ad miral Mayo. Puget Sound Bridge & Dredging Co—er Patterson. Amer Yard—Str Roosevelt, Nettleton Mill Dock—Schr Eéwin R wi Heffernan Deock—@tr Valdes, str Juneas, rahip Oxme, Delight Jefferson, atr Ala Admiral Dewey, str Admiral str Spokane. Admiral Sentey, ste Admiral at v Stall 17, pure Am: Ta Be, § The. She. de qt. Btall 64, Carnatic: ean. Stall 1536, 2 bai raisins, 26¢ T. Stall * Jelliex, Ibe gage, eae beans, 256 for 25e Stall 1513, T. Stall 48, 2 cans Stall $1, fresh churned Stan 73, Stall ct Stal Stall 26, best America: § ths 64e fresh butter (Meadowbrook ) tall 63, home made veal loaf, 2 ® fremh ranch emg: Jersey butter, 206 Stal 111, potato American orange marmadale, pt. Stall 109, beaw 0 mugar, 4 Tbe. 220, 8 the $40, Stall 31, salmon trout, 40¢ M.; King salmon, 20c tb. Stall 45, 4 Toe. good by rice, tbc; Munt's white cherr can 180, 2 for She. Stall 47, Wesson and Mazola oil, 29¢ Stall Tt, new pota toes, 4 Tha. 250 Stall 6, best fre 66e; full cream Staite 24 2 cans peas o milk, 19¢ can, the wt. corn, orry apricots, large ited pea. ic $1.00; q . Stale 17-16, Silverd: 32 , 2 Te, Stalls #9 Pt. a0e, at. very beat cheese, Mazoia and Wesson oil. gal. $1.98, Stall 4, hens, ena, 49¢ Tb. Stall 6, bo! jamb shoulders, 10¢ ™, Stalle 29-20, hal- fbut, 20c T.; salmon, 2he Th. Stall 66. 6 ta, small white beans, 260; 266 bottle cider vinegar, 1%¢ ap Boat ne § 1; freah tall 100, tenderloin King salmon, 26 Wisconsin mild chee A5e, Stalla 94-96 ts. plea, Stall wurst, i mixed cookie: Italian salami, 660 ibe M.; sugar cured ham, Stall 46, green Ma, 2he good bacon, Stall #4, ibe up; lamb, 100 T mutton, #¢ T.: lard. i. Stati by lettuce, 10 14 ts, WESTLAKE Stalin 16-17, Campbell's soup, Stall 105, 3 160 bare toilet #0 cans sardines in oll, he; % can meats, 260; 5 Tbs, emall white bea Btall 104, 2 the. cottage cheene, 250; wago cheene, Sugar stall, 49-1, Westlake Special flour, $2.1 Family Flees From Burning Building Awakened in time by @ mysterious fire that started in their bedroom early Thursdaysmorning, John Ken nedy, his wife and three small chil dren, escaped from the burning building, 2002 K. Republican st., without injury, Damage was esti mated at $400, 4) Fruit | duce k Nominal Nominal * ° |, Rive May 1 ‘ ewrIMATED TowonRow Wheat, 25 cars; corn, 366 ears; oate, 109 care Chicago Live Stock —Moge—Racetpta, | nt rrery 14.50; stockers and feeders. ¥5 cows, 14.7507: i 000 Denver Live Stock DENVER, May 2¢.—-Cattle—-Rece! Market we: and heifers, $5.75 1 Hietb@ ita, San Francisco Produce BAN FRANCISCO, May %.--Tutter— Extras, tte ib, prime firsta, 33% Id. Cheese—California Mata fancy, ite Ib. Kage Extras, 27¢ dor No. 1 dirtics, 4c dou, extra pulleta, 32e dos; undag- heed puiletn 19 dom Chief among Uh rating ine ott for a similar period int ports caused @ showing of strength in other rails wing net altho moat of the shares ret e points from the Wednesday le oral tone © Portland Market Status PORTHAND, | May 24.—Cattie thet steady, ta, 374. $9.2509.50; 0G 5 pnchanged. Market weak heavies, 19@ 0. Market slow, Hens OCEAN FREIGHT CUT EFFECTIVE SAN FRANCISCO, May 26—Re- ductions in ocean freight rates for |both eastbound and west-bound car goes, made yesterday at meetings of |the north tlantic Pacific coast westbound conference and the Pacific coast-north Atlantic eastbound con- |fegenee became effective today The reductions range from 10 to 20 per cent on more than a score of commodities, some of which have been favored also in transcontinental rail rate cuts. Steamship men say. however, that the water rate de creases are not made in competition with the rail lines. A fat rate of $1.75 on government supplies, per hundred pounds, apply: * ling from the Eastern seaboard to Mare Island or Bremerton, slightly higher tariffs on steel tools, wire and baled goods, are features of the reduced tariffs, CONCUR IN RATE Concurrence by Kastern raflways in the approximately 20 per cent re. duction in freight rates, decided on by transcontinental railways west of Chicago at a conference in Chicago ‘Tuesday, was indicated in advices received here Wednesday by 1. W. Dudley, general agent of the Ann Arbor Railway company. HE. ADS. PRODU CE ASSOCIATION Harry Schumaker of the Pacific and Products company was elected president of the Seattle Pro- association at their annual j banquet held last night at the Butler Hotel cafe, Other officers elected were: Barney Hertzman, vice presi dent; A. 8. Nickerson, secretary, and A. Weinstein to fill a vacancy on the board of directors, A LONDON, May 26 urging the government tax of not less than $100 upon every | horse or mule exported from the British isiex was carried at a meeting | of various societies for the protection | resolution to place a Re-| | Rerlin 4s | Hamburg é* |Munien ba. with | uy distinetly better market showed « atooka whic rh were got alno 4: | olla, with early sales United Staten company, 306%, Com, up ty 104%, off & rush of buying, goin to 41% In re- the first four months of Lo2t ome of # four months was $5,024 Industrials also acted Tt climbed to Other equipment aha recoveries of two or three ock to show real life Mexican Pet oh a the marke Money on Call NRW TORK, M Money on eall, fo cont; aie if merpantile Londo 1 pe cont iar silver } oo we Foreign Exchange | New YORK * | Corumbers- 16.30 6.60, tio, epot, C6 WES Th: No. ¢ Banton, AL > . N. Y. Stock Exchange Butler Motel Be! Rock — Atehison Amer. Reet #u n'Mansing a Co « E | Lackawanas | Mexican Mimourt Pi New Haven North Yan Amer Pierce Arro Pennayivania Tk it Reading Kepiogte Kepubiic iron & Bteet Petroleum x jand = International Nickel. 15% Brook. Rapid Transit 12% Total sales stocks, $17,400 sharea Liber Bonds fRerien — First 240 . Firet Rerond ts First ue. Becond 448... Third «Me . Close e009 0 low rary German W Hamburg 4%e Leipeig 448 Leipaig be Munion 4s Frankfort nome Int ie. Japanese ind 44a Se, S4e, Sie, Bue. o's United Kingdom United Kingdom Railroad Securities (Weetnend Quotations) Furnished by tL. B. Manning & Ca, eat Batler Mote mia Atchison Gen. 7 Anked s 4 their] Tialdwin | |} Imperial Valley "has nent Ite first car of cantaloupes to eastern mar kets, The firet ear for Seattle will be rolling next Hecause of ja good crep, the will be reasonably cheap during the nea son, Dealers have not yet received the opening prices, The lemon market was very firm Thureday, while quotations were continuing to inerease, The hot epell in the east has caused a strong demand for citrus from that diree tion, Lamons were quoted day The frost has done damage to grapes, expecially Malagas and the Museat brands bas been predicted that the fruit will be cheaper thie year than last A small express shipment of Cali week taloupes on the market, The peaches were selling at $4 for a four-basket erate. There were no changes noted on vegetables ax from the beginning jot the week The butter mart was firm Thurs day; eas and cheene were steady VEGETABLES Prices Paid Wholesale Dealers Artichokes Cai, dow | Asparagus Wash, Heane— Wax, Cal, M. | Green, M. | Meets ier ack Cabbage—Cal. Winningstadt, Carrots Local, per sack hothouse, aa per th Loc Gartle-Ter T™ Green Peas Ca! 23 Horseradish Ver seoees ° Lettuce—liae., erate Loest hothouse, per rata, per ™® don, bunches or Local green, on foe hes Local, per box hamper ... an, lo pasket erate Ty ° % | Chestaute—Cal, 17 Or a Wisconsin cream brea eri Biock Swine .. ° a Wash. triplets .. ARE SENT EAST Thure | at from $5.60 to $6.50 a erate. | considerable | the | It! fornia Alexander brand peaches was | S Dorks FIRM BOOSTED the financing Definite plans for formation | of a manufacturers cor poration, to meet the money needa of industries in this community, in-| | dependently for Kastern capital, par to be reported next Wednesday to a meeting of business leaders who ap. | pointed a committee for the purpose | Wednesday Hefore this arrangement was made an informal but enthusiastic discus 20 industrial | leaders who guthered at Blanc's cafe H. J, Gitte, nager of Puget Sound Light & Power Co, nided, | It was potnted out | capital cannot | the needa of a ce duntrial development in to be as great as that of this state | Accordingly a stock company is to | be entabliahed aeeiet all prises that are found worthy The committee's report next Wed | nenday, if adopted, will be submitted | for approval to the board of truntees of the local Chamber of Commerce and the Manufacturers’ aa TRY Prices Peid by Wholesale Dealers to Shippers | sion was held by the salen ma the | that stern | * expected to meet “munity whose in to enter Live Hens 1 Geene 1 Live . Torkeys Live Belgian Mares | nder ¢ he . Lave POULTRY Prices Vaid Wholesalers Dressed Dre 4 Me Dressed Dressed Lave, and up. FLOUR 4-#a, ety delivery ... HAY, GRAIN AND FEED Clty Wholesale Prices, Per Ton Core Whole ye Cracked, 106-M. ” | Rolled | pped Oats Wroe Ground #proutin Wheat lect All-Graim Chop | Chek Feed—100-. sacks Chick Mash rowing Mash, 180-T sks, ne lM Kan Mash100-™ sacks, no BM herateh Veed 100m Molasers Wuiry Neach . Alfaifs Hay-—No. 1 . | Mixed Hay—No 1 [Timothy May—No. i . with grain, GRAIN PROFIT | May 26 inning CHICAGO, hav Varmers are ing their market in the grain The farmers, with elevators filled ofit ‘nqnees went to $1.45 4 of Trade pocketed a neat p and grain speculators wer M m the Ghicago Be ed” when wheat yes terday. Many of the speculators had pold t “short,” promising to del torn exporters. Heports ntinued drought in the nt the price of wheat to a new high for the year and, in order to cover operators had to buy at high prices n farme Board of 1 their unhapp wh erto of the Southweat ade operators are citing plight to bear out their contention that legivlation regulate the Board of Trade economically sound, and that prices regulated by the law of supp! and demand. to is not ure CANADIAN. PACIFIC Sten iaave al cA er 1, Woot i. ler Wi 9: 00 A. M. DAILY von VICTORIA ene VANCOU. ven, nh. 11:30 P.M. DAILY FOR VANCOUVER, B. ©, DIM CANADA LIM) cnumed Sunday, May 22, 92 Hours to Montreal 87 Hours to Toronto f LOW EX( FARES ON SALE JUNE 1 aff Springs Hotel Opens May 15 frau Lake Louise, Jume 3. ' F . “The largest producer of Platinum and Palladium in North America” PLATINUM— PALLADIUM PRODUCING CORPORATION Capital Stock 150,000 Shares of $10 par valua Properties at Kaman Bay, Alaska, producing Platinum, Palladium, Gold, Silver and Copper President, J. E. CHILBERG Founder and Former President of the Scandinavian American Bank of Seattle, SS. ES: far less than one-tenth of one duced $400,000 of concentrates. Irvington, New Jeruey. 29 full mineral claims and 16 fractional claims; 0 aim developed to 150 feet has pro- Products are sold to the smelter at VER 200,000 tons of ore now blocked out, having a net value of $1,100,000. of new and larger mill (with profits will run A. G. Larson, M. E., estimates that on installation | Platinum selling at $70 per ounce) met $348,000.00 per annum from ore already blocked out—Being equivalent to 23% on entire capitalization HOULD the price of Platinum and Palladium go to $150 per ounce, as is expected and as it formerly was, these profits would run over 50 % annually on the entire capitalization of the company. This does not cover all other profit possibilities of all the company prep- ertion. VER $200,000 has been spent tn development and equipment of these properties, which are equipped with all necessary air compression plant, pipe lines, tram, hydro-electric plant, wireless station, tools, ete, etc, R CHILE SRG was formerly associated with and brought to the public the famous Pioneer Mining Company, of Nome, Alaska, which paid millions of dollars in dividends to its owners and stock- holders We regard the purchase of these shares as a most opportunity. | remarkable speculative Price $11 Per Share Send orders and make remittance payable te L. N. ROSENBAUM & CO., Inc. 82 Wall Street New York Brokers and Sales Representatives Wanted UICKS 4,164,219.16 934,508.49 1,228,126.00 Balances . 466,774.00 Clearing 430,780.00 Balances . 43,166.00 le Senate Holding Secret Session ‘ON, May 26.—Hfforts ator Pat Harrison, Mississippi, the senate open its doors while considering the nomination of David H. Blair, North Carolina, as commissioner of internal revenue, failed today when the senate, after a le lasting an hour and a half, WASHIN by Se vf animals, voted to remain in secret seasion, Look at These Price: K45—1920 5 passenger, Rebuilt K44—1920 Roadster, Rebuilt K45—1920 5 passenger, Rebuilt K45—1920 5 passenger, Rebuilt ........ E45—1918 5 passenger, AsIs..............$775 H45—1919 5 passenger, As Is ...........$1,150 H45—1919 5 passenger, As Is ............$900 21-45—1921 5 passenger, Demonstrator . .$1,650 C25—1915 Chassis only ..................$350 D45—1917 5 passenger, As Is .............$500 Ford—1920 5 passenger, As Is, driven 3,000 .$1,300 .$1,250 .$1,300 . $1,350 Touring Season Is Here— These Prices Are Right— Why Wait? Eldridge Buick Sales Co Corner Pike and Harvard |Open All Day Saturday :