The Seattle Star Newspaper, July 20, 1921, Page 12

FAILURES | DECREASE Financial Side of Depression Nearing Close, Experts Declare BY ALBERT APPLE Business failures are decreasing, Doth in number and in abilities, ac cording to R. G. Dun & Co, reports. This means, bankers say, that the financial side of business depression is nearing its close. The number of business mortalities hag been declining since January, In the matter of total liabilities (unpaid bills, delinquent bank loans, eto), the crisis was passed in March. Here's Dun’s table of failures since the first of the year, by months: Number of Failures ean Lat 14st 1.386 1,290 GOLD STOCK GAINS Loans of all American banks now total $37,500,000,000, ‘This is $5,000,000,000 leas than a * 0 1 year-ago. It puts the banks tn a stronger po- sition. The nation’s stock of gold now ts about $3,400,000,000—a gain of more than half a billion dollars in a year. Plenty of call money at 5 per cent Row. A year ago, the rate on call Joans was 10 to 14 per cent. Purchasing power of the dollar, In wholesale markets, has nearly dou Ship News Tides in Seattle WEDNESDAY THURSDAY JULY 30 JULY 2 Piest Migh Tide i, 10.2 ft | Fivet Migh ‘Tite Lew Tide sata m, 101 % * First Low Tide HP am, a5 Me | Second High Tide Rom, Lhe fh 3:56 Dest | 11208 am. | WILL MANAGE NEW LINE RK. J. Ringwood, formerly of Se attle, and at one time vice president and general manager of the Pacific: Alaska Navigation company, the pre decessor af the Pacific Steamship company, will be general manager on the Pacific coast of the new line that the Compagnie Generale Transatlan tique will start betwean Europe and the Pacific coast shortly. eee SAILS FOR ALASKA With more than 100 round-trip ex. jcurstonists on the passenger list, the steamship Spokane, in the service of the Pactife Steamship company, sailed for Southeastern Alaska points on her regular summer excursion schedule, Monday morning. eee | CAPT, McNOBLE APPOINTED H. C. Cantelow, assistant general }manager of the Pacific Steamship |Co, Tuesday announced that Capt EB. I, MeNoble had been appointed superintendent of terminals for the Admiral line, effective August 1. eee Weather Bureau Repo TATOOSH 181 aA. rt M Passed out, sit royers, at # pm. and four a 7:20 pom. t atta m. Outside, bound tn, entine, Arrivals dnd apattnes Arrived July 19—tr Admiral Dewey from Van- Bled since a year ago. Enables busi Ness men to do the sme volumy of ‘trade on half as much money. Deehive coke output—only 50,000 net tons in week ended June 25. That's seven-eighths less than same week in 1920, ° iy ul £ 5 z z tr iy Bs ‘A ea a u *3 if ret if os a. # f “3 9, a Ei i] pik i 3 fe E See Stall 14, whole silver : salmon, . Stall 116, but per sack. te mild cream TD. Stalls 20-21, cantaloupes, ; solid tomatoes, Ly Sausage meat, 12%c Ib. BANKS INSTALL ARMORED CAGES Sharpshooters Employed to Frustrate Robberies BUFFALO, N. Y., July 20—Due to the number of increasing bank Tobberies thruout the United States, | Buffalo banking inetitutions have in- stalled many safety devices to insure against robbery. Sharpshooters armed with auto- matic rifles, barricaded in an armor plate cage above the corridor of the | Federal Reserve bank, are on guard! to frustrate possible attacks by armed bandits. ‘The “pill box” contains seven loop- holes and looks like a world war for. tification. Any point in the bank is @ target for the man in the cage. Additional night guards have been placed in banks and they are now armed with sawed-off shotguns. Besides visible means of warding off attacks the banks have installed secret appliances that would bring police instantly to the bank where | an attack was made and other appll- ances that would trap the robbers, District Attorney Reported Better Robert C. Saunders, United States district attorney, who has been iil wince Friday, was reported improved ‘Wednesday. He ts in Virginia Ma gon hospital couver, B.C, 3:45 p.m. July 20—8t? Weatham from Rrfttah Co- lumbia porta at noo THE SEATTLE STAR Irregular Trading Marks N. Y. Opening NEW YORK market se ne at ‘The hesitancy which in July 20. has marked early stock t were un- changed, but ropped @ point within # few minutos General Asphalt, Petroleum, 104M AUantic-Gulf opened at 21%,.up %, but quickly sold off to 21; Cana- dian Pacific was off \ at 109)! New Maven lont % at 18%, and Meading wasup % at 68 A lower quotation on Sterling was a depressing factor. Opening prices included; Central Leather, 37%, up %; American To- 125%, unchanged; Texas Company, 33%, hanged; Hethiehem B, p Royal Dutch, 62%, up %; Baldwin, 76%, up %; American The four ¢ 50; L Studebaker, 79%, and Mexican u ‘in, UP Ye. ket continued atron| t ah steels. Bethieh: Mexican Petr SiMe Tecovery of about four points f of dividen rices Included od Sti Republic, pf &, off % Northern Pacific, 13% Leather, 3 United States Rubber sold at »m the low which followed passing %. up %; Republic Steet 104, off &; Gen- pacce Products. » 120%, up %: N. Y. Stock Exchange Quotations: GRAIN FUTURES |.°.YsS3%3 ARE UNSETTLED CHICAGO, July 20.—Grain quota tions were unsettled on the board | Amer Locomotive today. After opening strong, wheat|4mer fat howed considerable weakness &Nd | Aneconda...... Buying by | nate & Ohio i. which held up the |naidwin Locomotive market at the opening, dropped of ced, Offerings were te was fall Receipta were wain large. opened weak, but quotations slight gain at the close. ports were the main Influence on the) Gruc marketa Provisions | Gener Unit . 32, ned ° . and closed off 2% re Aloobol.-. $1.27 ber wheat opened lc up at $L.29%, and closed off 3\¢. December wheat opened $1.24 and closed Be off. | Corn—July opened off We at 63%e, and closed up We September corn | Missourt opened at 620, off Ko, and closed | Hg 1K. December corn opened at 6i%c, off Se, and closed off Ke. July oats opened at 46%, un- changed, and closed off ye. Sap- tember opened up tee at 42 4c, and closed off 1%c. “December oats opened up eo at 40Kc, and closed off le Inapiration Kennecott Pacific. Rinclatr Ol from Portland, Me., Katan from Mamburg, 2:15 a m. & Tennessee from San Diego, 11 a m. Balled July 19—Str Talsa for Reston, 11:90 p m.; str Alameda for Anchorage, South- Western via Southeastern Alaska, T:16 p m.; str Dakar Maru for Tacoma, 5:50 p. mj str Steel Worker for New York, & > mm eee Casualty fan Francisco—July 20—8tr Queen from San Pedro off Point Sur with dis- abled machinery. Tug Sea Monarch gone | ,% aanistan: and . will tow ber to ° Tuneau—July 18—Salled, str Jefferson, northbound, 11 pm | . Vessels in Other Ports Ban Francisco—July 20—Arrived, str jorahip ‘Went Jester. Pier A—Str Admiral No@man, str West Isteta. Pier D—Gtr Admiral Dewey. Union Pacific Terminal—@ur Wet Katan. S aegies Besse, ui len, str Delrosa, str Iconi- reat | Standard Oil Dock—Motorship Apex. Stacy Street Terminal—U, 6 C & Bure- side. 28¢ | Wetfernan Dock—Motorship Boobyalia, str Valder; str Cordova, u. & SPOKANE—A. E. West drowns at Liberty beach in effort to rescue Mies Florence Reinhardt. “Servants of High Finance Are Denounced WASHINGTON, July 20.—"Big Chief’ Tom Watson of Georgia started on the warpath today. He is after the scalp of the fed- eral reserve board. The “war cry” of the “chief” was a resolution couched in the bitterest denunciatory terms, di. recting President Harding to “fire the present members of the board and replace them with “men of affairs” who are not to be “servants of Morgan, Stand ard Oll, packers and other legal ized marauders.” “I'm going to camp on thelr trail like a hungry coyote after a corpulent jack rabbit,” de- clared the “chief.” “And the coyote usually gets his meat.” “The criminal and arbitrary deflation of the currency by the reserve board,” @enator Watson declared, “has cost the American people the amount of the Ger- man — indemnity—$32,000,00,000. The unscrupulous bunch of scoundrels who compose the board have caused 10,000 busi- ness failures, innumerable heart: aches among formerly prosperous people and the euicide of hun- dreds of citizens who have been reduced to desperation by the in- famous policy of the board, “They have done to America what German U-boats tried but failed to do—to sink the nation into the abysemal degradation of an autocrat’s subjugation. The atrocious sinking of the Lusitania and the cold blooded murder of 119 Americana was no worse in moral turpitude than has been the criminal policy of the board. “The outcome—there can be but one—to get rid of the board. 1 have detailed myself to that pur pose.” 9) | | | | Cash Wheat CHICAGO, July 20--Cash wheat— No. 1 red, $1.2 O1.36%4 No. 2 res 2 3 es % 1.264: N La2@Lae:) No. t hard, $1.25@1 ; No, 3 hard, $1.35, Southern Pacific. . Chicago Board of Trade rominea by £. i Manning’ © Om Wheat Open High lew $1274 SLa7m BL te Let anh Westinghouse 2 Willys-Overiand...... 7M International Nickel... 12% Brookiya Rep. Trams oo. sess ‘Total stock sales, 420.300 shares, eee FE PREP ESE Close sir ae ¥ * ese FFE steady. Chotee steers, $4.756@1.25; fair to good $5.60@6. enotce Clee | Genecberriew-—Local, per Grape Frait--Fia tox” 22—"iep@is: ‘Teday‘s trea, 43e 1b; prime. firsts, Butter—ri1 27 %o Ih a fate, faney, 260 Th Kgge—Extras, 43% don; fireta, 19%e don; No. 1 dirtien, 360 don; extra pul- Jota, She dos; pulleta, 260 ue dom N. Y. Sugar and Coffee Segne—naw, H1s0; eraniated, rey Coffee—Mo, 7 Rio, spot, 6% @S%e Mm; ZNO 4 Banton, 94% Ih ‘Wheat, 75@ cars; corn, 150 cars; cate, BANK CLEARINGS F Seattle Clearin: -$3,954,179.95 | Siabeneiceatane | acetpia, | 830,806.01 | |e strong.” Top, $8.55.010. heavy Clearings $10.40; medium weigh Balances . Lightweight, $10.65 ing sows, '§ py rough, $5.25@4.65; pigs, $10@1 Cattle—Receipts, 7,000. Market lhe up. Chotce and prime, and d, 87.500 8.78; £067.50; good and choloe, § Sand aniee + 4,024,908.16 | $16,640.16 | Clearings | | Balances + 1,643,346.00 609,207.00 teady to o— | 5 |Plan Discussion of | Minimum Wage OLYMPIA, July 20—The $18 a |week minimum wage for chamber- maids and waitresses will be consid: jered here Friday by representatives lof the public, employers and em | ployes, appointed by Edward Clif. |ford, director of the department of |labor and industries. ‘Those selected for the conference lare: Representing public—Mra. Ar. thur Gunn, club woman, Seattle; Dr. Ray Quigley, Everett; Dan Cloud, newspaper man, Montesano. Em- |ployers—Harry §. Moore, Hotel Let |ber, Spokane; ¥. Mo Wash- jington hotel, Aberd@m; Fred H. Sus- |key, Savoy hotel, Meattle. Employes |—-Miss Vela Smith, waitress, Bremer. jton; Mrs, Emma Elliott, bousemaid, Seattle; Miss Marie Steinman, house- |maid, Spokane, |Well, He Was Glad for Her, We’ll Bet Patrolman A. E. Sandell is not overly joyful Wednesday. Sandell, while managing traffic at Second ave, and Union st. Monday, found a woman's beaded handbag containing $106.39 in cash and a sunburst brooch, set with diamonds, valued at about $1,500. Mrs. John Campbell, 404 Terry ave called at police headquarters and established her ownership to the valuabjes. Under the police regula- tions, * the valuables would have gone to Sandell if they had gone un- claimed for six months, Ad Concern Changes By recent action of the board of directors, the corporate name of totaford, Constantine & ‘Tyler, ad- Portland and Se- n changed to Botsford Constantine company. The interests 8. Tyler were purchased in ary by C. P. Constantine and id M. Botsford. It is announced that the change of name indicates no change at this time in the clientele or management of the company, The officers are C. P, Constantine, president; David M. Botsford, vice-president, and H. R. Falling, secretary-treasurer, DENVER BANK CLOSES DENVER, July 20.—Siow paper was given as the chief cause for the closing of the Denver State bank, state examiners said today, after making an investigation of the af- fairs of the institution which closed its doors here yesterday The bank, of which W. V. Mat- thews, Omaha, Neb., is president, had deposits of $150,000 and a capital stock of $50,000, | -Almeric Hugh Pa- borough) marries NEW YORK get (Lord Qu Edith Starr Miller. A new giant plane in Uncle Sam's alr fleet is equipped to carry four tons of bombs, BELLINGHAM—Bellingham and Lummi canneries receive 7,500 vockeye salmon a day, y|Drices paid the shippers for butter. % at 18 cents a pound. ¢ | Turkeye—Dressed, per th, Its Corporate Name);,,' SAYS ROUGH HUBBY HEAVES HER OUT; SHE ASKS DIVORCE Charging that her husband habitually throws her out of the house, that he has threatened to “blow her head off,” and has an ungovernable temper which re sults in much dish breaking, Mra. Lena Palitzka filed suit for di voree Wednemlay against Albert Palitzka, and asked for the cus tody of thelr three minor chil dren, BUTTER PRICE NOW ADVANCES Higher Outside Markets Draw Off Supply | An advance of one cent in the | price of butter was chalked up on Wednesday, Higher outside markets, which were drawing heavily upon our but ter and butterfat supply, were given as the reason for the increased prices, Large consignments of butterfat were being sent to Portland and San Franciseo, where shippers were able to receive a higher profit for their cream, This, causing @ temporary shortage, forced the jobbers to raine their butter prices, which was much to the benefit of dealers in substi- tutes, The new butter prices were 39) cents for the city ereamery bricks and 38 cents for the cubes. The FEAR FOR LOST GIRL AND YOUTH Young Pair Still Mysterious- ly Missing According to report phoned in to the sheriff's office Wednes- day, Dorothy Norman and Ed Rucker, both 18, who have been mbeing from Lake Burien since Saturday night, were seen at Angie Lake, three miles south east of Lake Burien, Sunday morning. fat was, for the A grade, Seattle de livery, 40 centa, and for the B grade, ST conta, No changes were noted on the eee frart Wednesday, with the Prices) ithe boy and girl, who had known ‘There were no changes in the fruit |@°b other only five days, attended division of the market. The first|th® Lake Burien Boosters’ dance to- shipment of Turkish metons arrived | k*ther, Ed Rucker told friends he ‘on the street and were being sold at |W taking his partner home, After $2.50 for a crate of four melons, disappearing up the road, neither ‘The first straight car of California | Was seen again. Crawford peaches arrived on the| Mr. and Mra. T. N. Graham, of market, with the price per crate at|14ke Burien, the girl's uncle and $1.75. aunt, with whom she was staying, Green corn was quoted at from $3| 294 the boy's mother do not agree to $2.60 m erate, while the first ar-| With the sheriff's office in the belief rival of yellow corn was being sold| that an elopement has taken place. at $4.50 a crate, They fear an accident or foul Play, Green and wax beans were selling | "4 are searching the country about Lake Burten, Dorothy Norman was visiting her aunt and uncle from her home in Bellingham, when she met Rucker. According to them, there was no sign of a love affair on either side, The girl is five feet two and a half in height, and weighs 115 pounds, She is light complexioned. When leaving home, Saturday night, she wore a brown plaid skirt, a pink fweater, brown stockings and low brown shoes, Rucker ts fair complextoned, five feet eight inches, and weighs 150 pounds, He wore a Hght suit. It is believed by the sheriff's office that the couple are working some- where in the berry fields, where Rucker wanted to find work, but met with difficulty because of the grow: ers’ objection to hiring single men, bed * 4s! New Shiny Dollars * to Come From Mint SAN FRANCISCO, July 20.—The 0¢) United States mint here today re ;| sumed operations and is going to coin new shiny dollars for the first time in several months. As soon as *\the work in satisfactorily started, the mint will work 24 hours a day in turning out the new dollars *iwhich are authorized under the terms of the Pittman replacement 280) Retiring Mint Superintendent T. tee] W. N. Shanahan, has just finished eo pet the task of counting $457,950,162.93. ¢ 3 | When be finished the new superin- ‘eg | tendent, H. J. Kelly, gave him a re- 00) celpt for that amount. Reane-—-Looal, green, per ID. «+ Wax, local, per TM. ... Cal. per TH. ... Petatere—New Garnet. Cal, . joni white, per Local, don. Sptaach—Local, per box . Tematere— Merced, tug ... bor p. Cal, erate a : 9] Rates to the National Federation of +2.80@2.00] Business and Professional Women's ‘Dieser | clubs today plunged into the first 34 | Teal business of the convention. Round table discussion on the work of state federations was the @| program for the greater part of to- day. Helpful work the convention Waleats— French, per Bb. Peanute—Virginia Keystone fm. -12|executive measion under the leader. Japanese ... - ae “~ ship of Miss Ida Anderson, Indiana, chairman. Finances and the club program for 1921-1922 also were be- ing discussed. “= we Ships Must Tell of 2) Liquors They Have 16 That liquors on ships coming into United States ports must be mani- 3%| tested, and may be listed as sea stores and locked under government seal while the veasel is in port, is declared in ag decision signed on Wednesday by Federal Judge Jere- miah Neterer, The court overruled a demurrer instituted by Capt. Thom- as J. Quinn, master of the City of Spokane, who was assessed a fine of $500 for not manifesting some li- quors he had aboard when arriving 5{ {8 Seattle harbor. Prices raid BUCTS te Butt orf t— th mrage, Beattie dell isan . Rene Freak ranch . nd Pulets . to Shippers Ducks—tive, old, per Young, per T."...... Mens—Live, under 4 ibe, Live, 4 The and up .. Dressed, per To. . Prosecutions Grow Here, Report Shows An increase of approximately 30 Prosecutions instituted in the West- ern district of Washington during the fiscal year ending July 1, 1921, will be shown in the annual report of the district attorney to be issued Thursday. The greatest increase is tn the number of liquor and dope cases, ac- cording to Miss Ethel Dutton, chief clerk, who has been at work on the report since the first of the month. Dressed, per 1. op Prime lambe . Yeartings _. FLOUR Pat. 4-4's, clty delivery . HAY, GRAIN AND City Wholesale Prices, Whole yellow, 120-1. cked, 100-1, macks . ‘eed Meal, 100-T. nacks Barley—Whole, toe Rolled, 80-1. sa Masons Will Attend | Wayfarer Wednesday Members of Masonic bodies are go- ing to sit together in five sections FE of the stadium next Wednesday Pea | night, Masonic night for “The Way- nacka wg. o9 | farer,” according to announcement : 00 of Horace J. Bywater, commis 40.00 | sioner, These sections are Nos, 10, 12, 14, 18 and 20. The box stalls and re served seats in these sections are on sale now at the Masonic clubrooms, fifth floor of the Arcade building, ; and at the Arena, on Fifth a “Mb. aac! Sprouting, 100-1. aa Wheat—Recleaned toed Tourists and Car Fall Into Tree ESTES PARK, Colo., July 20.—RBe- ing passengers in a touring car which ran off the highway in Estes park and fell 20 feet into the top of @ large tree was the experience of Mr, and Mrs, C. E. Brown, Michigan tourists, here today. The unusual occurrence happened yesterday, when Brown lost control of the machine, He and his wife crawled down the tree to safety, It required several hours to release the car from the treetop, | Chick Mi tals nee Growing Mash, 100. 100-1 Wheat—Mixed feed, Covoanut Meal , Cottonseed Meal’. Linseed O11 Mi Hoya Bean Meal Alfalfa Meal . Bert Pulp .. Fish Meal Western oyntor Boach ....... Alfalfa Hay—No. i Sised Bar Ne. wrt Timot No. 1 Gtrew Prreserit TACOMA—Max Hertz, 16, mise- ing, Last seen at Point Defiance park; bad $17, per cent in the number of federal) | WEDNESDAY, JULY 20, 1921. CITY CARLINES | SHOW GOOD GAIN $45,154 Profit This Year; $775,423 Same Period Last Year Seattle's street car system cleared » net profit of $45,104 uring the first six montt 1921! The lons of the corresponding period of 1920 was $775,423! the first six months of this were $2,111,966, and the total pennes aggregated $2,654,811, cellanecous revenues amounted $25,584. Necessary deductions fra | the gross income, to pay interest These are figures compiled by |bonda, etc, were leted at $424, state examiners and made public|and $103,271 ts charged up to Wednesday by Mayor Caldwell. |red wide of the ledger on propel “The. showing is indeed favor. | retired. able,” Caldwell remarked, indicating | Funds placed aside for pay the big decrease in operating ex-| of the railway are not included fm penses and the increased revenues | report, altho the usual montbly due to the 81.3 cent token. |preciation charge of $66, The total operating revenues for! charged against the lines. MELLON FAVORS |Y<'sr=3: INTEREST HALT Says U. S. Obligated Not to Press Debtors BY L. C. MARTIN WASHINGTON, July 20, — The United States government considers itself “under obligations” to foreign debtor nations to defer interest pay- ments on thelr debts, Secretary of the Tgeasury Mellon today told the senate finance committee. Mellon said he accepted as a bind. ing obligation an understanding! reached in 1919 in negotiations be tween an American treasury repre-| sentative named Rathbone and a British representative named Black- ette, that the interest would be de-| ferred until 1922 at least. Senators Reed and La Follette de- manded that Mellon produce at once | memoranda notes and correspond:| ence growing but of the Rathbone | Blackette negotiations. Mellon said| the data was in treasury files, locked | up in big wooden chests which had/ been carted to the committee room. La Follette and Reed brought out the fact that the Rathbone-Blackette | negations resulted in framing of a plan to defer British interest for 15 to 30 years, The plan never wi made binding, however, Melion and Elijot Wadsworth, his assistant, seid. Hithereto secret documents, fur- nished the committee today by Mel*| lon, disclosed that on May 11 this year Melion sent the British ambas- sador in Washington several drafts | of proposed agreements for refund ing the British debt. It’s All Up to the Council, Is Ruling Power to dispose of municipal real estate is vested exclusively in the wat ser ruled eg ter F. Mi ‘Wednesday, in answer to a query propounded by 107 Sorting Serest, James E. Blackwell, superintendent | @#%=e==-manamp of buildings, Veterans’ Bureau Is Before Sem: - WASHINGTON, July 20.—Co eration of the Sweet-Smoot creating a veterans’ bureau, was gun by the senate today immediata after it was reported by Sen Smoot of Utuh. ‘The measure consolidates the risk insurance bureau and the fed board of vocational education }a new department directly ble to the president. ron COMFORT and CON- VENIENCE This Folding Chair takes up little room and costs only Complete stock of Au' a Pyramid by ata Stop for a refreshing plunge in beautiful Crystal Pool, the finest salt water natatorium in the West. Amid the myriad attractions ar- ranged for your pleasure, remember the Elks’ Water Frolic, Thursday evening, July 21, 8: lar fire dive from the roof. ADMISSION FREE TO BALCONY TO ALL ELKS AND FAMILIES SWIMMING, AS USUAL, 50 CENTS SEATTLE NATATORIUM COMPANY Second at Seneca Joint Accounts for Saving HUSBAND and wife or ethers whose Amterests are in common, often find it convenient to have s “joint” savings account, : Such an account is ed in two names, ond peantly vem er person. In case of death of one, the account is held sub- to the order of the survivor without the necessity of any legal formality, ‘We will be glad to give further informa tion to these interested in the subject of @ joint account.