The Seattle Star Newspaper, June 13, 1921, Page 7

1. 3 MONDAY, JUNE 18, 1921 ; , MOODY SEES ea EY Seotsy OF > ‘ t, the gradual re-employment of labor, STEADY GAIN IN BUSINESS Analyzes Present Situation of Commerce and Finance; Sees Decided Recovery BY JOHN MOODY President of Moody's Investors Service. NEW YORK, June 9.—A slow but definite and tangible recovery in ® business ts already shown, and it is| More and more evident that the de- | pression was at its worst around the . end of February. Cheap raw materials, together with Lmoderate costs of labor and capital, are producing general betterment. From the highest of last year ma- t off 35 to 50 per cent, while ts, including the wage cuts and the greater efficiency, are down "20 to 30 per cent; and time money is Tending around 6X per cent against 9 per cent last August. Cheap materials, capital and labor @re the three stuffs out of which Prosperity is always made; and the slowness of the present improvement may be attributed to the fact that ' Yabor and capital are not yet really _ cheap. NET PROCEEDS ON RAILROADS GREATER The recovery itself, however, is rather a fact than an opinion, altho +n some lines it is not yet felt. Railroad operating expenses have been so drastically reduced that the net before taxes is now about three times > great as it'was in February; the volume of traffic has been show, ing steady gains for many weeks; do- mestic consumption of wool has in- creased 100 per cent since December, and cotton consumption is beginning to gain; credits have been deflated to the extent of probably about four billions; bank reserves have so in- creased as to wipe out the financial and monetary dangers which existed | @ year ago; and commercial failures pele sharply diminished as to liabill- Both manufacturing companies and wholesale and retail trading concerns have considerably strengthened themselves by selling down their stocks of goods and materials since the turn of the year; and the short- ages of cash assets and working capi- tal are being overcome. ment of labor in the manufacturing industries is almost ‘Universally going on except in such tardy branches as steel and minerals. Building construction, especially in dweilings, is improving so rapidly as to show a gain of about 200 per cent over January. Extravagance ts everywhere being eliminated; the world’s governments to get probably it will be so in . sag fh more pertinent is the have already readjusted to warrant the expecta- tion of real prosperity sometime next , and possibly as early as the fourth quarter of this year. Producing and operating costs have been generally reduced by something “like 25 per cent, and when once the volume of sales and production re- covers, the burden of heavy taxes ‘and public debts should be much less and the actuality of the slow better- “ment which is now under way. a (Copyright 1921 by Newspaper Enterprise) fe Held on Charge of Robbing Logger 3. A. McPherson, 80, driver, and 3. Manion, 33, were arrested at 5th fave. and Jefferson st. Sunday night by Detectives Benjamin, Gordon, Yoris and Fortner and are being held on open charges pending inves- tigation of the story of George Bahm, 27, logger, who claims the men robbed him of $500. Bahm, who is held as a witness, ! that the two men took his Money while they were all drunk. 6 detectives found $261 in a side 4 get of the door of the automobile which the three men were riding. | Public Market ||: WESTLA! Stalls 16-17, Lux flakes, 100 pys.; 2 fa. choice prunes, thc; 49-"b. Ham- | mond’s Best Flour, $2.15; 6 pkgs. Search nt matches, 6, 7 bars tall ean Stall 133, PIKE PLACE Stall 17, § Tbs. cane sugar, 590, $7.35 Stall 62, Borden's milk, 4 Stall 79, pure fresh milk, 45c; Mason jar 3c doz; 56t; peanut butter, 10c he Gold Dust powder, 2: * Stall 102, je Th, 3 Ibs. pe eee: best fresh creamery butter, $1.00; fine cane sugar, 8 taut cans Co-operative milk, rolene milk, 26¢; 2 Tbe. Futter, 19¢, Stall 2, mutton chops, lie t.; 2 ‘Ma. lard, 28¢; short Fibs of beef, 10c T.; pork chops, 2 Iba. BSc; negk bones, § Ibs, 25c. SANITARY Tbs. sugar, ugar, 2 Ths. 160; powdered je; cube sugar, 2 Th qt; commercial cream, 12¢ bottle alin 24-36, No. 10 pall Cottolene, $1.20; 4 bars Creme Oil soap, 250; Old Yankee @rrup, pt. 35c, at. b5e. SOUTH END home grown peas, h, : xen, Stall 1, eeanse! Stall 109, § 160 ™,; little pig sausage, 42, lamb chops, ie t.; pork roast, 20e 1; local bacon, 20¢ M,' Stall 20, Carna-| tion milk, 10c¢ ‘can; navy beans, 5 tbe the; M. J.B. coffee, 26 can, Stall $4, lard, 2 the, 250; sirloin steak, 220 Ib.; Veni stew, 10c tb. iW BANK C LEARINGS Seatile Clearings .. ‘Ship News| Tides in Seattle MONDAY | JUNE First Low Tide Sr amy Bate Fiest High ‘Tae 10:65 a om, a2 ft | Second Low Tide | 4a pm, 29 tt | Second High Tide 11:25 pom, 12.8 te! eee TO REPAIR BIG LINERS Hxtensive repairing on the liners Keystone State and Wenatchee will be undertaken at thiseport when the vessels arrive here from their present voyage, it was announced Sunday The pumping and condensing ap paratus on both ships is to be torn out and replaced by a new system The Wenatchee was seriously handi TURADAY JUNK Wt First Low Tide | e28 a ft First High Tide 12s pm, BB te Second Low Tide 640 pm, 45 ft leapped on her maiden voyage across the Pacific by the failure of ber present condensers to assimilate salt water, eee been impationtly waiting for the con struction of the permanent $1,500,000 bride across the West Waterway at Spokane st, will feel easier if the as- Sessthent roll for condemnation of land for necessary approaches to the bridge is upheld in superior court, in @ hearing to take place June 21, Action by the city letting the con- tract for construction of the bridge is promised on the completion of the court hearing. . . The Third division of Seattle's naval reserve force cruised the Upper Sound in the vicinity of Foul- weather bluff Sunday aboard the U. 8. Eagleboat 67. ° oe County commisioners Monday awarded the contract for the con- struction of the Medina ferry term! nal t0 J. A. MeBachern & Co., on an $8,600 bid, and that for the construc: tion éf the Western bridge over a gulch near the Rainier Golf and| Country club to Culliton Bros, whose bid was $1,760. The county engineer had estimated that the former job would cost $13,162.80, and the latter $2,000, oe KARL LEONHARDT, convicted recently on a statutory charge, was sentenced to five years in the state penitentiary by Judge Boyd J. Tall man Monday. Leonhardt’s step: daughter was prosecuting witness against him. The U. 8S. shipping board's freight. er West Hartland, which rammed and sank the passenger liner Gov- ernor off Point Wilson April 1, will leave this port Tuesday or Wednes- day for Portland to re-enter service. The vessel will load lumber for the Orient. eee Weather Bureau Report TATOOSH ISLAND, June 13.8 A. M. Falling barometer; raining; wind east, | 12 miles an hour. ed im, tr Del- rom, at 7:20 a m; tug Daniel Kern | with two scows, at § a m Outaid four-mast schooner, maat British schooner, sigualing WMTQ eee Arrivals and Departures Arrived: Baty o> a from Southeast- ern Alaska, at ; str Crosse Keys from Cee. O48 rer m; ate Liberator from Everett, 7:15 © m. June 12-—Str West Kedron Hamburg, 7:45 p. m; str Prince Rupert from Prince Rupert, 4:15 Dp m.; str Lady Kindersiey from Britian Columbia ports, 10:15 a m. June 11--str Santa Rosalie from Everett, § Boe ed June 1%—Str Eastern Satior for Ham- burg, 4:45 a. m.; str Prince Rupert for Prince Rupert, 11:20 p.m. eee Alaskan Vessels Valdez—June 1%—Salied, str Alameda, southbound, §:30 p. m. Ketchtkan—June 12—Satled, str Ad- miral Watson, southbound, 1 & m. Vessels in Other Ports ihe Pundibrieet ctr Steel Yokohama—Jun Arrived, str Tyh- dareus from Beatt! New York—June ‘11—Balled, str Moxt- can for Seattle; str Andrea Luckenbach for Beattle. Arrived, str Willhilo from Seattle; str Henry 5. Grove from Seattle. Balboa——June 11—Salled, str Keystone State for Seattle; str Alaskan for San Pedro—June 11—Arrive: Voyager from Beattie. Salled, str Fiort- dan for Seattle. p.m. 13—Arrived, atr Admiral Se- June 12--Sailed, mo- torship Buenos Alres for Seattle, 4 p. m.; str Esther Dollar for Seattle, & a. m. Astoria—June 13—Arrived, str Eastern Sailor from Seattle, 9 a m. June 12> Kern, towing two str U. 8. Naval Commanicatians June 12—str Admiral Kohley, San Fran- cisco for Seattie, 110 miles south of Co- , towing Admiral p. m. Str West Ison, Kobe for Seattle, 2414 miles from Seattle, Pp. _m.; str Wheatland Montana, Seattle tor, Yokohama, 2998 miles from’ Seattle, m.; motorship Ozmo, Beatle for Bethel, 204 miles north of Unimak Pass, apm eee Vessels in Port at Seattle Smith Cové Terminal—Pier Mp str Boral ean Maru, Union Oil Dock—Motorship Lady Kin- dersiey. Grand Trunk Dock—Str Spokane. str Jefferson, n, Union Pacific Terminal ron. Pacific Const Coal Bunkers—U 8 LS Swiftsure. v. Shipping Board Moorings—#t Westward Ho, #' Eastern Glen, o Ioonlum, str Tippecanoe, ate Youemit str Anna EB. Morse. Connecticut Street Terminal- Rosalia. Alaska Steamship Moorings-—-Str Redon- do. Str West Kea- Str Santa Stacy Street Terminal—U 8 8 Burnside. East Waterway Terminal—tr Cross ate he 8, Keys. Todd Dry Docks—Str Forest King, West Hartland, str West Ivia, Admiral Mayo, str City of Bpoki air West Jeasup, Puget Bound Bridge & Dredging Co.—str Patterson. Ames Yard Drummond low: Nettleton Mill Went. Heffernan Dock—Btr Valdez, atr Juneau. Stream—Ship Chillicothe. Winslow Marine Ky-—Bktn Anne Comyn, sehr Spokane, barge Henry Villard, barge Coquitlam City. Moonshine Still Two Are Given a Hearing Charged with operating two moon shine stills at 305 and 307 22nd ave., J. HWikada and H. Nakagawa, Japan ese, arrested Friday at $05 22nd ave., will appear in police court Monday afternoon for a preliminary hearing. Hikada and Nakagawa were arrest- ed Friday after a raid by the police on their two frame buildings at the above address, who seized over $30,- Str Ro Lighte: ‘Terminal—Str R. Dock—Schr Kaward big |! fi West Seattle residents, who have | | ie New York Market, | iK, June ancy at the opening of atoe fi mark b y Apecial prean. ble was at 66, 6 corporation meet next wee mon stock dividends, Mexican Petroleum opened at 128, a new low the year, and a net decline of 2%, United States Steel #old down to last woek's low of 7614, off 4. Motors were firm, Studebaker being unchanged Rolle were fractionally lower, Baldwin Locomotive opened at} American Woolen was off 4 at 73% 70% 75% 110%, off eee * Mi Chandler 69, off NEW YORK, June 12.—A new record low and a break thru the low of Were established In two leading stocks on the exchange here during morning trading today United States Steel comm Last years low pr Cuba Cane pi low, “The market was generally lower durin |another sinking spell, dropping to 64. Ot Products, General Asphalt ahd all the sugars Issues Which held up included American Woo! California Petroleum and Pan-American. The break in atecle carried Bethlehem “TY” below $0, and Republic to 46, Crucible to 63 and U. 8, Steel 7 General Motors In the afternoon do a new record, low at 9%; Industrial Aleonol wold off wearily. three ints. Few dividend meetings are seheduled for t of the month atroet was despite the ge of the divi Corn eit le m broke thru the 1920 low by selling at 16% od ot included v Sugar sold w Studebaker, Pacific Oil, # price Ww ercats intimated t Other meeting: ou, luded Pure Northern I | and Great Northern, ee NEW YORK, June 13.—After a day of declines, stock market rallied late in the session today and @ number of speculative stocks recovered two points or more hlehem General Asphalt, American Sugar and Studebaker were among the stocks registering gains nt steels later, gave that group bearish on ‘steels, Justifying he industry, and the fact that products in this’ market at lower |_ Catching of stop loss orders in Independe | & weak appoaranc ‘Traders are extr selling on the unprecedented depresai German interests are offering some than domeast! prices. Midvale Stool made a now low at 22%. ‘The market closed Irregular EGG PRICE UP | “tts2_Benrd.of, Trade 1 CENT HERE Manning & Co, Maliding: 61% Wide Variety of Prices on|” OO% 6% 40 HE SEATTLE STAR |Record Low Is Made WHEAT AGAIN ‘Jed av 410, up \e, and closed off Wo} nave PAGE 7 e | TSS Ne Disagreement in Economic Meeting WASHINGTON, June 18.— Differ co of opinion aswerted itwelf at the nference on economic regeneration of agriculture, held between tary Hoover, Secretary farmers, millers and elevator jhere today While the meeting ws nsed doors, It was sand elevator men were opposed to certain phases of the propowal to extend wide credit on warehouse cer- | tific ates, the proposed grain market ing pool and other remedies. The farmers were understood to taken a stand for the measures as they were prepared © hold behind ned that mill July wh $1.41, and Se Ptomber 2Mc at the close, opened lowt Me at ft onte opened at 396 September Cash Wheat CHICAGO, June 13.-Cash wheat— No. 2 red, $1.58; No. 2 red, $1.60; No. 2 hard, $1.66%;'No. § hard, $1.60. 972,299 IN TREASU RY OLYMPIA, June 11—There is $9 9 in the state treasury, accord Indoor baseball is very much put | i to a report jasued yesterday by out—doors there ¢ easurer C. 1. Babcock, : |More Floor Space Provided | Would Remove ; Federal Bank Men SPOKANB, Wash., June 13,—The ation of W. P.G, Harding, gov ernor of the Federal Reserve and the board of directors of the eral reserve board, was asked in am letter sent to Senator KE. By Ladd, Washington, D. Cc. by the national Non-Partisan league, in eon vention here Sunday. é | naeerrrerwrrrwrrrnnrrrs BUSINESS SHO TO BE EXPANDED. for Exhibits With 10,000 more square fest of space applied for by the committee in charge, a total of 300 booths will be made available for exhibitors in| Visiting merchant will have one mile [the commercial show arranged in|f his railroad fare paid for every connection with the Northwest Mer.| dollar of purchase made at the ex> chants’ convention and Buyers'| hibit. If a man comes from 100 Week in Seattle July 25 to 80. miles away and makes a $100 pur Already 120 firma have engaged | chase, his fare both ways will | space. Hundreds of acceptances of paid by the committee. invitations to attend the week in Se-| ‘The exhibit is in charge of attle have been received, and more| Sales Managers’ association and are coming on every mall, An ar-|Northwest Products committee rangement has been made whereby a ‘the Chamber of Commerce. be the the of FREDERICK & NELSON FIFTH AVENUE AND PINE STREET ‘A Tuesday Offering: 100 Cloth Skirts eye 17.60 Strawberries ves PAL SL AEG OL3N KS OLG8 128 1.29% 126K LAT 6o% 64% 66 ts ai Egg quotations Monday were 27 to 28 cents a dozen for fresh ranch eggs |and 22 to 28 cents for pullets, which | was an increase of 1 cent at some j houses. With @ steady demand for hota eges and a decreasing production, the price ts expected to continue to advance gradually, Butter and cheese were reported to be steady. | Prices on cantaloupes were $4 for | the standard crates and $3 on the| | ponies, with the flat crates moving fat $2. Fairly large shipments of straw- berries were on the market, and be cause of the many grades a wide range of prices was noted, The Mar- shall variety was selling at from $1.75 to $2 a crate, while the Clark seedlings were sold at $2.59 to $2.75 . @ erate, There was a fair demand in the vegetable division of the market, with the quotations unchanged from the close of last week. 10.00 10.33 10.32 a . . Chicago Live Stock CHICAGO, June 12,—Hoge—Receipts, Market steady. Hulk of males, @E16;, butene Sas; Mahe, 8 3 15; rougha, $7. ibe? Cattle—Receipta, 19,000. lower, Beef, $4.4009.15 [807998.50; canners and cutters +m ore and feeders, $4.50@ cows, $4.25@7.26; calves, $7.5010. Receipts, 17,000. Market 260 Lamba, §4.20@11; ewes, $1 Market 10¢ buteher stock, ne Foreign Exchange YORK, Jw clan ex- was slightly lo ie cy oo opening Sterling was at $3.72% ; ire, $0.0496; marka, $0.0 The market closed higher, Sterling, 83.74%; france, $0.0470; marks, $0.0140% ; ian dollar, $0.5: kronen, Portland Market Status PORTLAND, June — 13.~Cattle--Re- colpts, 2,694. Market slow. Best steers, S4@ 5.25) common to fair steors, cows and heife: Winninestadt, | » 4 Carat, per sack .. FY New N. Y. Coffee and Sugar NEW YORK, June 13.—Sueer, 4 | $4.50 delivered; granulated, $ 6.30. Coffee 7 Rio, spot, TET Ee Ib; No @i0e Ib. press ce ‘ San Francisco Produce BAN FRANCISCO, June 12.—Rutter— t7e Ih; prime firsts, 36%0 18; -Rxtras, 18%e do: No. 1 dirtion, extra pullets, 2640 doz; under- sized pullets, 22%¢ dow. Cheese—California flats, 17% Tb, E TOWN IS AFIRE eee oe e_ INMARYLAND! WILMINGTON, Del, June 13.-— Several fire companies left here to day for Rising Sun, Maryland, a town 20 miles from here, which is threatened with destruction by fire. Late reports were that two betty «) Imp, Val. 4-basket crate Local hothouse, box . Turnips—Local, dox bunches. imp, Val. standard crate Honey—Comb, per crate Cal mrained, per tb. . Lemone—Per box . Oranges Per case Strawberries—Local . Clark Seedlings Pineapples—Cuban, per Watermelon—Imp. Val. [have been destroyed. Firemen from Newark, Del., also have ena to te town's aid. | RUSSIAN ENVOY +i) COMING TOU. S, BY RUSSELL BROWNING WASHINGTON, June 13.—Leonid 21|Krassin, Russian soviet minister of 29 commerce, is coming to America to |work for a Russian-American trade 207\agreement, according to a dispatch 1.65/from London to a Washington em- bamsy today | Krassin negotiated the Anglo-Rus- 33 Sian trade pact and is considered one @ 28 \of the most successful soviet diplo- @ (mate DAIRY PRODUCTS Prices Paid to Shi Battertat— at ORs A grade, de, Seattle delivery. . Seattle delivery fob. Seattle supply F, 0. B. condensary, cwt DAIRY PRODUCTS Prices Paid Wholesale Dealers Batter—Local creamery, euhes. Brick see ‘ Egus—Fresh ranch - 27 Pullets . . seen Bd Cheese— Or triplets Wisconsin |Tax Reducers Turn Probe to Schools Special committees of voluntary investigators were to be chosen Mon- day to inspect the school board of- fices and building program, accord: ing to a decision of the executive committee of the Tax Reduction council last week,s The committees will make recommendations for tax retrenchments before the next bud get, The Tax Reduction council wa: formed recently by representatives | of nearly 40 civic, business and fra-| ternal organizations to fight high POULTRY Prices Paid by Wholewsle Dealers to Shi ppere . Ducke—Live . Hens—Live, under 4 Toa” Live, 4 Ts, and up Geene—Dresved Live ... 0.4 Turkeye—Live |. . Belgian Hares—Live ... POULTRY Prices Paid Wholesalers Ducks—Dressed Hens—Drei Geese—Dressod Turkeys—Drensed . Low-priced |$5.00| 6 Nh concessions gained in a favorable purchase are rep- resented in this low price. The skirts are in the plaid laited models, just now at the eight of popularity, in Navy, Red, Brown, Tan, Gray and Purple Waist measurements, 26 to 82. 5 ligne low-priced at $5.00 —THE DOWNSTAIRS STORE 80 Girls’ Smock-and-BloomerDresses Exceptional Values at 50c HESE. smart little two- piece garments are of linen-finish suiting, with quaint smock over bloomers. Designed with white sailor collar, lacing in front and smocking in black and white, on Delft or rose. Sizes 8, 10 and 12 years. Unusually ae at 50¢. 300 Children’s Rompers Sizes 2 to 6 Years 50c —tan and white stripe cotton crepe. — blue and white checked gingham. —plain blue chambray. ~—white linene. Choice of these materials in well-made Rompers, sizes 2 to 6 in the lot, but not in every style. Priced low at 50¢. 80 Children’s Dresses 50c —in white linene and cretonne combinations, sizes 2, 8, 4 and 5; particularly good values at 50¢. —THE DOWNSTAIRS STORE Decided Economy in Fabric-finish Stationery At 29c Box HOICE of white and lavender in this fabric- surface Correspondence Paper—twenty-four sheets of paper and twenty-four envelopes in deco- rative boxes—unusually low-priced at 29¢ box. -THE DOWNSTAIRS STORE Remnants at Reduced Prices ‘eed: Ghick Mash Growing Mash, 100-1. # 109-1 aM Linseed Oil Meal Soya Bean Meal 4 feet Meal Prime lambs Yeartings Wethers . Ewes Meat Scraps—Eastern Western Bone Meal Bone—Granul Charcoal——Ba: Pat. city delivery HAY, GRAIN AND FEED City Wholesule Prices, Per Ton Corn—Whole yellow, 120-T, sacks. 41.00 € 100-1. sacks .., +6 49.00 000 worth of booze and supplies: After being tried in police court » $5,107,101.36 1,198,539.27 a the two Japanese will be held for the federal autharitie~ rn oyster Onto Whole, feed 100-1, sacks Roled, 70-™. sacks Ground. 60-t. ancks Bprouting, 100-™, sacks fh May—No --No. F UOUNCINGS, Laces, Nets, Tulle and Embroideries figure in this group of remnants, suitable lengths for vestees, linings and other uses; also Ribbon Rem- nants in useful lengths—sharply underpriced. —THE DOWNSTAIRS STORE Children’s Pink Jersey Bloomers, 35c OFT cotton Jersey, serviceable and easily tubbed, fashions these Bloomers, with elastic at waist- line and knee. Sizes 8 to 16 years. Low-priced at B5¢. — THE DOWNSTAIRS STORE Featured for Tuesday: 216 Pairs of White Kid Oxfords At $4.45 Pair R graduation wear, for wear with organdie frocks at summer dances and for general sum- mer use, these gracefully modeled Oxfords of soft white kid with covered Louis heel, priced sharply below regular value. Sizes 3 to 8. Widths A, B, C and D. Tuesday, in the Downstairs Store, $4.45 pair. 2,000 Yards of Unbleached }} Muslin Special 10) Yard HERE are so many uses in the home for un- bleached Muslin, that it is real economy to pur- — chase liberally at this price. For aprons, house dresses, curtains, children’s wear, | luncheon haw 36-inch width, special 10¢ yard. a —THE DOWNSTAIRS STORE. Children’s Picture Books at Reduced Prices Cisth Books, 5¢ and Stampkraft Books, 10¢ each. 10¢. Nursery Rhymes, 10¢. My Book of Trains, Peter Rabbit Paint 40¢ and 75¢. Book, 5¢. A. B. ©. Books, 10¢, My Book of Ships, 40¢ and 75¢. 25¢, 40¢ and 75¢. —THE DOWNSTAIRS STORB a Ginghams Are Used for Attractive Sports Hats at 95c PORTS Crushers, pic- tured, in the lovely-col- ored plaids that prevail in summer frocks, among them Orchid Pink Blue Sand Brown Modestly priced at 95¢. Crushers of white pique, 95¢. —THE DOWNSTAIRS STORE Unusual Values: Women’s White-sole Stockings at 40c Pair NE Black Cotton Seamless Stockings, with white goles and narrow hemmed elastic top; sizes 844, 9 and 914; priced exceptionally low at 40¢ pair. —THE DOWNSTAIRS STORE Cut Glass Water Set Special $1.90 HOICE of the star design, pictured, and grape cutting, in these good-looking services for summer beverages. Pitcher, with six thin-blown tumblers, special $1.90, —THE DOWNSTAIRS STORB abs