The Seattle Star Newspaper, March 20, 1923, Page 12

THE SEATIYLE STAR CREDIT MEN 10 kgs York Stock Market) RISING COSTS EGG MARKET HEAR TREGOE saat Authority to Speak et at Dinner J. H. Tregoe Mhe Nationa! Association of Cr @rrived in Seattic Ife was met ngton ing of L.. O. Sandin of the € Belknap Glass company, N. Hal Of the Puget Sound Power company, C Bin & Company, and EB Genung | Secretary of the Seattle Axsocl. Credit Men. Plans for the entertainment of Mr Include a luncheon at the Club at noon, where he will the boards of tt if Men’s and the § ts" Associations. In he will be driven ty, and in the ev s he will ad ‘the association at a di in Masonic club rooms. the evening dinner & Meany will talk o and Tradition of th secretary-treasurer edit this New early at the hotel by a committee & L, Cragin of Cra Mer the afte around the ner t. E No: Music will be supplied at in-| thru the dinner by the Credit | en's glee club with Carl Presley at @ plano, and solos by A, A. Owen is recognized as one of the ut authorities in the country on} predits,”” said B. B. Genung, secre fy of the Seattle association Mon- | ® “and he has a big aR Association is 27 years old, has over 33,000 members, repre- } the largest wholesale and facturing concerns in the coun- Its basic idea is the betterment | hess conditions thru co-opera- | among business houses. It has umental in the passage of ‘as the bankruptcy act and blue sales law. Beattie association has L. 0. Sandin is its presi. * By dE. B. Genung its secretary. | ggly Wiggly Skyrockets ||: "_SENSATIO? AL jump of 38 # points in Pigsly Wiggly stock d the early hours of the exchange this morning. day it sold as low as 70 This morning It and started up, 108 at the time of going Padyance was caused by ru it the stock was cornered the shorts would have to an exorbitant figure. stock has been sensational ts development, and the out- the movement is looked yy the street with great in- oss, Inc, 1510-11 L. C. ; have completed alter- | yy their offices, materially in- their facilities for caring for growing shipping business. fan Electric Co., of Chicago, fi of electrical appli- have opened a district office L. C. Smith building. PAmerican Chain Co., Inc, an. | @ new issue of 6 per cent | inking fund debenture bonds, ed April 1, 1923, due April 1, 1933, | onds are issued in denomina- if $500 and $1.000, interest pay- | fl 1 and October 1. The bonds d at 971%, to yield 6.30 per | i. LOUGHNEY $ HUMAN KE OVEN Tacoma Man 54 Years Praises Dr. Lough- rs Baking Treatment, | i Sick Friends to the Trip and Be ited in Roasting Con- to he baked in Dr, iney'x Human Hake Oven and by to correct yi ecttully, Mik. M. WH, h 56th. Phone M. ; Dr. Loughney, Famous Dieti- tian, Publishes New Book “Free to You Postpaid” You will value thin hook hig hiy, mall them out VEN, ty Bake Oven dat the core aint marie’ Min inh, w STRENRT NEW YorK 20. highest average ability sentir | ward me and bull eth ah ¢ list g in « and at alties, r fed: America +; United Stat Corn Product Kennec ‘ “GRAIN MARKET CLOSES LOWER CHICA re March 19.-Grain prices tower at the close of ard of trade today led in the induced by prof May wheat which was t taking @ lack « natructive enthus a. Reports from the Southweat ndicated the damage from the bile zard Was not as serious as at first ved Export trade estimated at bushels failed to affect the market Profit taking tured the en dipped nauiry, The a feeder demands from farm t thelr cattle t pateria! Argen receipts, but Kligible ons were quiet and lower, Offerings were bowed of to scattered buyers Chicago Board of of Trade jouday's Quoti Open dis- Wneat— May July Bent re May July Sept ate May. July Lard May Riba en $1.33 Lis Lie te $1.21 Lis Lay 12.20 11.00 Clearings . Balances ..... «0... Tacoma | Total transactions .. 2,488,000,00 aa — ——x Chicago ci Lots by Logan Second Ave., Recta, Cont. i B Denver I wee Shacks Catias—maeeen se strong. heifers, $3. oo Nerset steady to cows and and feeders, $5.28; feeders, | ‘Ship News Tides in Seattle MONDAY TUESDAY MARCH 19 Ls | 1 | First High Tide 6:00 a m, 114 t. First Low Tide 12:29 p.m, 24 f Second High Thie | Second High Tide | 6:23 p.m. 10.6 1.17106 p. m., 10.6 ft} . Weather Bureau Report TATOOBH ISLAND, March 19.—8 A. M.—Barometer falling; wind west, 32 miles an hour. Inward bound, str Ad- miral Senile: at 6:30 a. m.; tr eee X. Baxter, at 48. m. 10 A | Passed in,’ str Yosemite, at 9:20 0. m.; }ste John C. Kirk Arrivals and De ARRIVED—March 19—Str Cold Har- bor from Boston via ports, at 9:30 a. m.; str Eldorado from Mobi 16:20 «, m.; ton via ports, at noon; str Toyama Maru from Kobe via ports, at 6:40 a.m, March . at Jefferson from Moffett: from Munrio from is At Tm. mi; wee Fh Bier from Ban Francisco via Kveret 1p. m.; str Lebee from Ban Francine 10 p, m.; str Sagadahoc from B.C bor, at 6:40 p. for Bound trip, at 1:40pm Alaska Nessels Juneau--March 18~—Ha: March 15—#alled, southbound, at 7 p.om.; ate Prin- ry, southbound, at 6:30 p, m. Potersburg—March 16—Salled, str Ad- miral Watson, northbound, at 4 p. m, ore Vessels in Port at Seattle Smith Cove Terminal-—Pler A—Dare Wm. Nottingham, ste Willie A, Hig- ging, etr Ibukisan Maru, str President Jefferson, Pier h—Htr Kaga Maru, Bell Street Terminal—Sehr Spokane, cut- ter Algonquln Pler $—Atr Nome City, #tr Rainier, Pier 2—Btr Vieworia Pier 1—Str Harry Luckenbach, Pier A—Motorehip Chalambri Pier Boar ¢ Pler D Union P Terminal—Str Fi str Pennaylvanian Pacific Const Coal Bunkera—Str Owego, bark J. D. tern, Pacific Com iRineering Worka—U, G. #8. Burveyor, U, ©. G, Haida. Connecticut nai—Behe mano, str Ohi Btacy Atreet Terminal. wood, Alexepa ku Maru, 4, Ca. w Clty, “U. HG, 8, Delle Str Labo, ntr Commoretai ate ate Dini Us, Abipoing Bs ate HF, ‘Traveler, A, ntr Boxer. rd Moorings—Htr Tc nium. atr Anna HB, Morse, atr Alle verado, ate Crom Kaya, Delight, atr West Hartland, atr Wont Inon, att Wallingford Puget Sound Bridges & Dredging Co— Ste Patterson. Amen Terminal Company—Htr Hagadahoc, bktn Geo, B ings, tr Covena, Je raining Btation—U, 8.4 0. Devdook ate Admiral Fevan Henry I, Wilson, Motorship Oregon, at Deélrome, woht wone. Mt Redon. JOURNAL Is carried Ph 46% | FINANCIAL REVIEW At Monday's close attained ulatiy April, 19 high terrMtory. en regarding contin f the rations Went ahead at pe Napae ps Petr >a new 49 and Producers & Kefiners at 68 caching a new high at againat n Locomotive 120, off tt, 43 * Haldw Sup . . Liberty Bonds Quotations Feratned by Logan & Bryes © Becund Ave.. Seattle Foreign Securities Monday's Quetations Britian British Hiritian Reigiu Relgiv German W. L. Mambure Mambure 4\8 Letpale 44 Letpeie Munich 4» Munich be Frankfort 4s Ref. ts Restor. be m Premium o United Kingdom $i», United Kingdom 6 . Foreign Money Status Monday's Quotations Furnished by Logae & lryan ‘BIO Second Ave., Seattle Stocks sanee |Bheo i938 eta 104 Kterling Canadian Freneh franc 440 ate 5 ote German mark, 6.0048 ot + iwediah krona Norway krone T ete r Francisco Produce Monday's Quotations abe tb; prime fiesta, Ihe dos; undersized extra pulleta, puller Cheeve—Catifornia flats Portland Produce Monday's Quotations | Batter—41@ 40 Th fancy, 28 pomery $y ty N.Y. ‘Sugar toa d Coffee Kaw. $7.41; granulated, $999.29 Caftee—Iio spot, 18 ke Ib; 184 @ 1S Ke Ib. Bocelli: Be ee EW YORK, March 19.—Poreign ex- Opened firm ign duit; Rantor, 40.0486; marks, Financial Flashes From James Macfarlane & Co, 811 Second Ave. Structural steel production in U. S. 69 per cent of capacity. Twenty industrials 104.82, 20 rails 89.11, up 44 Beechnut Packing declared regular up .89: quarterly 60 per cent common divi dend and 1% per cent pfd. common, payable April 10 to stock of record | | March 31, March 31. Copper industry {a strong. Close to 77,000,000 pounds shipped from U. 8. in January. Automotive industries say total Production of cars and trucks in Jan jYary and February of this year was| |145,708 in excens of the entire out- | put for the first quarter of 1922 Goodyear Tire & Rubber prior ptd. declared quarterly dividend of $2 on prior ptd. trust certificates, payable April 1, record March 2! McIntyre Porcupine Mines de. clared dividend of 5 per cent payable May 1, record April 1. This is same |as three months ago. Standard Oil of Kansas for year reports net earnings $1,232,153 after depreciation and taxes, or $2.85 per share on $25 par. Car shortage in U. 8. March 79,270 cars, decrease Previous week, and pfd. April 14, 7 was 1,363 from BIG TOBACCO FIRMS UNITE NEW YORK, March 20—It is formaily announced that directors of both the Tobacco Products company and the Porto Rican American To. bacco company have approved the plan for consolidating these two com. panies. It is stated that no finane- ing will be necessary. ‘The Porto Rican company has an authorized capital of 100,000 shares, $100 par value, of which 62,778 shares are outstanding. ‘The share- holders will be asked to change the authorized capital to consist of seven per cent cumulative preferred, $100 par, and no-par common, It is pro- vided that after $7 be pald on the common, both stocks will share alike in any distributions, The common will not be cumulative. There will be 62,788 shares of each class issued Immediately, ‘The hold: ers of the 62,778 shares of Porto Rican stock outstanding will be given the right to exchange, share for share, for the new preferred, ‘The 62,778 shares of common stock to be issued will be sold fo the Tobacco Products corporation at $25 a share, Balance of both classes of stock will be reserved for future requirements, Club Meetings | The Kiwanis club will meet Wed. nesday noon, Mareh 21, at the Gow. man hotel, The Bremerton Kiwanjs will be prevent and supply the anitertusnimontu Something interest. ing is promised, under the caption of “Pitty Hive Minutes From Seattle,” PH) |conatruction record | INVESTIGATED | Government May Delay Work to Prevent Inflation BY HARRY WASHINGHON HUNT March 20. is going on strike againat in the building trades Following an investigation extend ing ken, Uncle soar ing om over many Indic building control of gove w in whieh great’ infla authorities facts gathered tion in ate cost nment work are t to the preparing a repe commending all work be flated president vernment topped until at least to the ago. hand show 10 ruction son cont of house today per cent in 1922; that building today costs 14 per more vs in higher than 4 frame ent that factory o¢ 29 per cent a January, | A® compared to brick ‘ fram) January than one year tion pre-war 199 buildings 196 per SERIOUS FACTOR 3 OUTLOOK ding trades, due lared to be the one serious sl in the outlook for 1923 Untess the inflation ean be is feared ¢ the build renult the stoppage of virtually all construction work, ‘This would bring hardship’ to the whole ing Ait to inflat it strike by neral will with manufactur atructure The calling off of all work will | mende 1 ans the best means of cheek. jing further inflatidn and at the jsame time providing a method of |preventing a precipitate break in In: | jdustry generally, which would disastrous, Should the public follow the gov ernment’s lead by callin off con struction work the government could step in,whenever prices got down to reasonable and sane level, and resuming construction, prevent entire demoralization. NO POWER TO [RESTRAIN PRIC In fo ating |but ed cu to ri |dustry In volume i al and industrial government he om be BOOSTS the report on fation, it will be point that pric ntoadily * have continued ter the in- has been endangered the entire Present altuation, with building at the maximum bullding industries working there in virtually no com and no factor of rest soaring prices. Unieas the situation can be jbrought strikingly to the industry's attention and deflation begun before | |the public declares a building strike, jthe whole industry, government au thorities state, in in danger of walk- ing over a precipice, A builders’ strike, with sudden geners! cessation of building, would | cause the whole industry to bring| up on the rocks. | ARE UP AGAIN| | | “Call money in February reconted| the highest average since the bull j;Movernent began, altho money ia ordinarily cheap at this season,” |Siya Moody's Weekly Review in its current inque. | “Rates are advancing in response the larger production the higher prices, Commercial acceptances now rep. resent the cheapest money on the Market, being even cheaper than call ani tho advantage as jto rates has passed from the stock jmarket to the mérchant and pro ducer “The rixo of interest rates should j be expected to continue thru April, because of the &reat trade activity, after which the demand for funds should relax during the summor Period. Then if the crop movement jand the autumn trade are up to normal, money rates should begin advancing gain in the early autumn, “Cail money ts apt to be pretty cheap ip the summer, when wealthy traders and investors are away, but the trend of commercial paper diy | counts should be pretty steadily up: | ward, slow.’ me, petition on to and louns; RECORD YEAR FOR RETAILER The remarkable recovery in retail | trade conditions during 1 flected In the financial report just issued by Gimbel Brothers, Who Oper: ato one of the largest department stores in the Bast. The net sales tota and were not only a $5,000,000 in: crease over 1921, but constituted the biggest year in the firm's 80 years | of merchandising Isaac Gimble, president of the com. pany, took an exceedingly optimistic view of the outlook for tie ourrent year. “Our sales in February,” said Mr. Gimbel, “were the largest in our his tory and the month of March, ro far, despite unfavorable weather, W healthy increase over the of March, 1922, 1 of 1924 will b retail tusinens." Public Lands Open “1 $72,664,768, shows month eve the year record year in the WASHINGTON, March 40.—Bide for royalty oll received by the wow ernment from concerns operating oll wella on public Janda in W mine will be accepted by the departzaent of interior, it v announced today, Sealed bida will be eepted up to noon on May 1 may Include the royalties accruing to the United States oither for a period of the noxt five years or tho next 10 years, beginning 1923, y the prevent amount of government royalty oll por month, are; Creek, Lance 1,900 barrels; Big Muddy, 800 barrels; Grass Creek, 800 barrola: Derby Domo, 69 barrels; Hamitton |¥ Dome, 1,200 barrels, and Osage, 80 barrels, | Del altho the rise promises to be Vv to Oil Operating E le Bids for the purchase of this all July 4, 4 € The oll fields to be included and | yj DOWN A CENT Price Is Now 28 Cents; Butter Market Firm predictions of the local jobbers, exe market 7 day went down another cent, maki the price on standard: market has be tion for # tions were ower th market iss Local tured the n in a weakened eral days, but qu not exp nts cled to go an The and unchanged fea ne? butter Ht tiem thouse cucumber market Tue the arriva The with their nia ayparages in in tarting to come larger com om D> ial quantitie ted ers ng 25 cents a pound now in of fair quality, and ar improving and pri hanges were nc and the pr ext drog the market VEGETABLES Prices Paid Wholesale Dealers Artichokes Herts al, per amek Hrussels Sprouts [er Cabbage Cal, per Cauliflower Celery Cocambers Garlle— Ver Ver 4 » Hr one 6 | Turnipe doa, bunches PROUITS Vrices Paid Wholesale Dealers Apples— | Arkansas Miactes Lrs@ne 0a 26 Tangerives—Hiandard box NUTS Pricts Paid Wholesale Dealers Almonds <r Peanuts Pecans DAIRY PRODUCTS Vrices Paid to Shippers Battorfat— 200 DAIRY PRODUCTS | Prices to Retail Dealers | | Batter—tocal creamery, 4a) Local: prints, wrapped ; Freah ranch, white shell. ined colors, Puliets Cheese Wiseonaia er tin be ck Hock fwiee Wash. triplets Hiamook triplets ; POULTRY AND MEATS Prices Paid by Wholesale Dealers to Shippers bricks triplets .. Batter—w. creamery, Wash, creamery, cubes Pryers and Resatere—Live, Capons—Live » % Heme—4\ the Medium, live. to 45 The Live, Heht, 2 to 3% The Fancy dry picked 3 cents above live Geese 4 up Live, fat, & Fancy dressed Nelgian Hares——4 the. and up Turkeys—Fancy 0. p.. §-16 Tbe. Reosters—Old, live, per Ib. Hoge Cholee, ight . Heavy, fane to 16 the oo Oe 16 10@ 41 150-200 the eee 18 + 160-200 The, OTe 08 POULTRY AND MEATS Prices Paid Wholesale Dealers Dacks—Dressed, per th. Hene—1 heavy .. Dr Nght Live, heavy, M1, Live, tiaht, ™. Pryers—Ver tt Geese—Dre Briers Fancy Med, hear 4. par th Fancy, dressed Live fancy, Th... Inree—Live Dressed, per tb ‘ountry, dressed, Fancy block per tb % STOCK at Stockyards Prime steers Medium to choice Fe Oe :0@ on + 5.008 & + 42b@ 5 Oe o@ Oe 3 o10@ 1.00@ 7 + 6.008 00” oon Kings Ph Sh vehe 2 FLOUR AND Wholesale Blends, locals, 4 local, bales . 48'R, bbl Flour per owt. Beet, per owt + 680,00 29.00 17,00 ity Delivery, Wholesale, Per Ton Marley—Whola food, 100° ground, 80'R100'" 100'% Whole, yellow, Ked and ford mi Oate—Whole, food, Rolled and ground. Sprouting, 100" Wheat te All-Grain Chop: 00 “44.00 | 149.00 | 41.00 | 48.00 46,00 48.00 00 49.00 48.00 62.00 00 00 50,06) Corns 120'" | 1, 100' 100'n 100%, with BM, Growing Keed10 ieowing Mash—-100'r, no 1, M 100's, no Tl, M. 100'n xed toad, ‘No'n i Alfalfa Men Soya Bean ‘| Companies Grow Rich While MONDAY, MARCH 19, 1928. NO. BRODERICK THE report tha apd repal Donahe Clare SUGAR PRIGES LUMBER HITS FILL COFFERS NORMAL PACE. Producers Catching Up for Users Pay | Spring Trade BY JOHN CARSON SHINGTON, Mareh Demand for lumber, which no far WA OT substantially fattening to beet sugar off th industry ty dit extra profits taken from the sugar ¢ The Great mere baby of beet sugar ume Western * inn Americun Lurmberman, to be a tu! demand to bh pec its Sugar Cc appears a fow year ure: pe ago, today iy an example of what,that extra ted to come during sp stimulation of building. opera tions. harge of 2 and 3 cents a pound sugar means to the sugar trust corporation is now a giant, It 1 demands a tariff, or subsidy, of y 2 cents a pound on ail stocks in the cities are only fair and in country districts are gen erally poor, and buildiag may ¢ be forced to b } trade holds up strongly no prospects of The approxims sugar in whatever volume velop the extenal retailers In the corporation paid for ‘ with construction of seven factories valued at $1 Dividend: du: 00,000 paid Common stock divid From 1910 to ; 1916, rly reduction arrival of spring will bring in: ities in some branches, ad construction work, for 1 extensive Plans have bben pre steady rise of lumber pi 13% per cent idend of 16 per cent producing order files at the milix wr The corporation also paid for other properties valued at $5,000,000 out of profits on sugar The stock of the orporation js now quoted at $350 a Little head- has as yet been made tn clear- ing up, on account of strong de | mand and unfavorable operating con- share, with par value at $100. ‘The | ditions, and most mills have enough |UtahIdaho company, another beet | business on hand to keep them byzy sugar baby, hax notes payable in|for the next 20 to 90 days. The February of last year amounting to} market holds firm at recently estab- $9,000,000. By October of last year | ished price levela. the company had Nquidated the in-| Some transit cars are being dis- dobtednens, posed of at slightly easier prices, SKAGIT BONDS COME TO LIFE Firms Competing for Issue Shoot Price Up g before the city coun udden revi council esenta umped the 7,160 above par. for by sco firm wh Gorge plant tur par was offered ng out the mmediately drawn if od Dix & Row 1 bond firm, offered um, or $2) 00 above & Co. came back with raise making the offer As a finaboffer Dix & Row $500 than any by Storrie & Co. Carl F. Uhden voleced delay in selling the that the Skagit $700,000 in debt and mu own unless money | was provided within 30 days. Ubden dec J that Dix & Rowland’s offer valid and could be with- ny time. ine declared that he had the principals behind Dix & Rowland and had sent tele grams East, but had received no | reply to the reliability of the |wyndicate who sought to buy the bonds. The matter was re to the finance committee, to [senor Wednesday, that the bonds more neer strong protest 4 declaring bor prose re was | drawn E. L. B vestigated as may finally be sold Thursday. |Farm Bank Loans Are Tax Exempt WASHINGTON, March 20—States |cannot impose t mortgagee negotiated by the federal farm Joan banks, the supreme court held today. It overruled decision of the courts in Alabama, which upheld a tax of 15 per cent per hundred, in accord. ance with an Alabama law, on a mortgage of the federal farm loan nk at New Orleans, signed by D. Crosland, of Montgomery county. « laws in conflict in this re- held unconstitutional. xes on Ww. 8 |spect were these being sold readily, “and there is no such pressure on the market as would lead to a material decline in prices soon. Recent changes in mill prices have been mostly upward, but their com- parative infrequency and untmport- ance indicate that the market is be- coming definitely stabilized. Metropolitan Center A service. which the Metropolitan Building Company tries to have every person satisfied. GROUP of buildings standing pre-eniinent in beauty of line, adequacy of rental space and Four blocks of fine offices and stores in Metropolitan Building Company Service FOR TENANTS FOR Architectural Service Assembly Ropm Careful Cleaning Service Compressed Air and Gas (in Cobb Building) Continuous Window Cleaning (except in stores) Courteous Employes Directors’ Room Electric Lights and Fixtures (above first floor) Elevator Service 7:30 to 12, Midnight Hot and Cold Water in Offices Metropolitan Tea Room Metropolitan Bulletin Night Watchman Rest Rooms Rug Cleaning Service Steam Heat—except in stores Storage and Moving Towel Supply Service Window Trimming Service Woodwork Shop Employes’ dusters) Girls Parties Personnel Restrooms Starters V Vacations EMPLOYES A Bonus System A Company Physician Annual Christmas Entertainment A Summer Camp Monthly Magazine, “The Skyline” Group Insurance Hot Coffee Service (night and morning for janitresses and Memory Tests for Elevator and Welfare Department Savings Department Special Uniforms for Elevator Special Uniforms for Janitors Ten-Year Service Club ting of the Sick on Pay Rental Department—1301 Fourth Avenue