The Seattle Star Newspaper, April 21, 1923, Page 9

4 4 4d q ’ a ives NT Te LES RS SD A I i LR OE a on ee SATURDAY, APRIL 21, 1928, THE ATTLE STAR PAGE 8 RETAILERS PLAN PUBLIG MEETING Preventing Buyers’ Strike Is} | ely discussions of important | t-day merchandis- | Subject of Talk ms of prese ing will characterize the program of the fourth annual convention of the Washington State Retailors’ associa- tion when it meets in the assembly room Wednesday and Thursday, April and [6 “The Buying Power se the Peo-| of | wh. | ple.” discussed by W. Talley, the Washington farm ae Mam Short, of the State Federation of Labor, and by George A. Phillips, representing the merchants of the state, will deaf largely with the prob- lems of the producer and the consum- er, his markets and bia payroll, and show how shaping the polictes of some of these | modern organizations, Perhaps the most popular topte ot] the convention will be “How Far Can Retailers Avert the Repetition of the “Buyers’ Strike?" This will be a! frank discussion of the economic and business conditions that are at pres- ent causing sharp advanees on many commo s Just how far these conditions are normal and healthy, and how far the retailer can wisely go in any attempt to modify the movement towurds higher price lev- els will be brought out at this time. All sessions of the convention are / open to the public, and it is expected | that retailers fn all lines wil! avail | themselves of the privilege of at- tending this convention regardless of their personal membership in the state organization, Advance reports Indicate a large representative at tendance of out-of-town merchants at this convention. OIL COMPANY SIGNS LEASE The corner at Eastlake and Howell and Court pl. has been leased for a period of ten years to the Associated Oli company for the purpose of gaso- line service station, at an approxi mate total rental of $24,000, accord- ing to an announcement by West & Wheeler. ‘The property ts owned by Hans L. Hansen and Lillian Brockman, and was previously Improved by a two- story fat building, which will be de- molished to make way for the erec tion of the gas station. This sta- tion, when completed, will cost ap- proximately $10,000, They also report the following leases of business property: ‘The corner of Ninth ave. and Pike st. has been leased to the Northwest Auto club at an annual rental of $900 for an oil station. ‘The store at 1418 Seventh ave. has been rented to Kruger & Barnes, who will open a show card printing shop. ‘The two-story building at 1514-18 With ave, has been rented to the United Motor Co., who will use it for @ used car salearoom. ‘Twenty industrials 102.58, up .34; 20 rails 88, off 56. Some believe Atchison will show Rearly 13 per cent earned on com- mon in 1922. Wabash said to have greater vol- ume of freight aand greater gross earnings for January, February and March than for any previous first / quarter in its history. California Petroleum stockhodiers’ special meeting in Richmond, Va., voted to approve capital increase and reduction in par to $25. Copper shares are strong, on ¢x- pectations of an advance in the red metal shortly fiom the present 17- cent level. Standard Of! of Louisiana reduced crude 20 cents a barrel, to $1.15. This is the first cut in Louisiana oil since February. ‘There are many rumors afloat re- garding a member of New Orleans, Texas & Mexico with Illinois Central and other roads. Standard/ Of! of New Jersey re- duced the price of gasoline 1 cent a gallon in New Jersey, West Vir- ginia, Maryland and Carolina. Stewart Warner declared regular quarterly dividend of $2 a share and 50-cent extra dividend, payable May 15, record April 20. Earnings of the company for the first quar- ter of the current year, before taxes, were $2,072,400, against $516,- 409 in the same period last year, New Issues | —— eel Dillon, Read & Co. announcé a $3,- 60,000 issue of 20-year 5 per cent fold bonds (non-cailable) of the Prov- ince of Alberta, Canada. The bonds are issued for $1,000, and interest is | payable Aprii 1 and October 1, in Canada and in New York. Principal ig due April 1, 1943. They are of- ered at 96%, to yield over 5.30 per’ cent. Business Changes H. C. Neubert of the Hartman-Neu- bert Lumber Co., has been made man- ager of the Mutual Timber mills, with offices at 956 Stuart building, but will still retain his interest in the Hartman-Neubert company, of which he is president. { TRADE TERMS FISCAL YEAR 4 fiscal year is any yearly period, regardless of the calendar year, at the end of which any firm, corpo- ration, or municipality may close its beoks in order to determine its finaneial condition. The date on which a new company commences fusiness usually determines the be- ginning of {ts particular Piacal year. Glimpees thru windows of high class apariment Mouses in most ex- clusive residential sections of Bor- lin show that there has teen a re- turn to the old-fashioned style of heater with a stoveplpe. at Frederick & Nelson's next | | merehants can assist tn | | Accord census, there a state of Wash various b jatecl industry, value of whose }40 million de o of the the total an Products i# aro’ are. | iron and © pleture was taken in the jattle plant of the Western Pipe teel company at 6105 East Mar jsinal way. ‘The plant ts at pres jengaged in making and installin pipe line 3, Cedar river supply, for jthe city of Seattle, | This line, one of the longest in }the world, is 66 inches in diameter | and 16 miles in length, requiring 24,000 tons of steel plate. | Much of the machinery, methods and equipment used in the produc tion of this pipe is to a very ¢ extent special. Among them ar A multiple punch, welghing 102 tons, a shear capable of shearing & 16Inch hole in the center of an $-foot plate one inch thickness, and riveters of 80 tons capacity, each weighing 15 tons, ‘The various! processes entering into plete fabrication of pip and to a very great ext for this parttcular contract. In making the Cedar river pipe, each of the 2,600 sections, each 32 feet in length, ts tested to from} 149 to 300 pounds after having been fabricated, and before being dipped. The tester, or machine used, weighs 75 tons, and ts the only one in use on the Pacific coast. The picturo illustrates the 102. ton punch, one of the largest of} its kind in the country, biting a dozen or two holes tn a Linch steel) Plate in one operation, accomplished } tn a fraction of a second. At the} machine. are Ole Nelson, C. H.| Loehr, A. Polson and M. V. Klep- per. the com are uni adopte LUMBER MILLS | FILLING ORDERS Production Reported at 25) Per Cent Above Normal | ee nerally strong undertone as a re- reporting to the West Coast Lum-| bermen’s association for the week ending April 14, manufactured 114,- 288,369 feet of lumber; sold 113,688,- 17 feet. | $26 feet; and shipped 115,922, Production for reporting 25 per cent above normal. ness was one-half per cont below| production. Shipments were 6 per! | cent above new business. Thirty-nine per cent of all new| business taken during the week was for future water delivery. This amounted to 44,199,541 feet, of which 36,575,850 feet was for domestic cargo | delivery, and 7,623,691 feet for ex-| port. New business for delivery by| rail amounted to 2,199 cars. Thirty-seven per cent of the week's lumber shipments moved by water. | This amounted to 44,453,422 fect, of | which $2,183,231 feet moved coast- wise and inter-coastal, and 11,670,191 feet overseas. Rail shipments totaled | 2,305 cars. Local auto and team deliveries to- taled 5,319,295 feet. Unfilled domestic cargo orders to- tal 171,720,521 feet. Unfilled export orders, 96,557,579 feet. Unfilled rail trade orders, 9,828 cars. In the first 15 weeks of the year, production of West Coast Lumber- men's association mills has been 1,- 416,193,712 feet; new business 1,628,- 998,870 feet, and siulpments 1,648,417,- 771 feet. | Foreign Secirites Friday's Quotations & Bryan e., Seattle Bid Asked 11% 19% 1 a M4 18% 960 French ages | | French re (| British 9% 100-9] Britian 95% 100% | British 4% «16% | British 81% 86% elgium Restor. 6 68 Belgium Premium a German W. Tn a... a 1 Hamburg 4a. 76 9 Leipzig in. 4 ’ Tapaneso (x am HM Tapanens Let 444 a aah Tapasose Ind 44 9314 | United Kingdom bis, 1929 114 114% | United Kingdom 6%», 1937..103% 106% Italian ose... Pict ink Foreign Money Status Friday's Quotations Furnished by Logan & Bryan B10 Second Ave., Seattle Normal value . 6 Prevent. value ¥renth franc Belgian franc 5.76 etm Swine franc, 18.17 tn - Italian lire 4.06 ctw German mark. .0.00381% et Awediah Krona... .26.76 ctw + Norway krone. ,..17,00 ota Danish krone.... 18.00 ute Aireek dravhma.,. 1.26 ctw Cash Wheat CHICAGO, April 20,—Cash wheat 2 hard, $1.20% 91.27, -No, ee | WALL NEW YORK pus, the April market thru t drives fn last 10 urea would ha checked. manently to econapllehing that tate and the Op: Corn 49; Texas Company, 4 Central, $4, off %; © Canadian Pacific, inelu ‘i. u merican ff %: Amer’ uban Cane, ptd CROP REPORTS LOWER PRICES; Grain prices | ° CHICAGO, April 20.- were lower on the C of trade today follow’ crop reports. The Kansan, state report on tho condition of the winter bearish, and showed ¢ lmore favorable condition than an! Rain in some sections of Nebraska beneficial, 400,000 bushelx of wheat were sold tictpated. ansas reported and very | for export on the dip. Lda abandoned od At 3,246,000 heavy cotton acreage. The Kansas: corn ac increased 9% port estimated slumped with wheat, |sult of the good cash light receipts highest prices for the Provisions wéakened One hundred and thirty-five mills) selling by packers with little export buying. | Chicago Boitd Friday's Quotations Migh 1 Wheat— Open Corn May £0 m8 jay. 12% 50% On at M 45% 46 “5 46% July. es 46% at ay sept. “o Tira Tt Meer | Ta M. + 11.45 145 11.12 42 July.. » 106 1140 14a iat resay July oe oT 92 oo ret Chicago Car Lots Friday's Quotations Furnished by Logan & Bryan 810 Second Ave, Seattle pen High Low Close » “ 20 16 « 9 2 108 mn i eee 1b 13 tb ae ross Portland Produce Friday's Quotations Batter—25@ 400 Ib. rn ib Denver Live Stock Friday's Quotations | pattio=nonsipt igh, Market’ ataady ‘Mteora, 47.00 cown and. Qeiters, $4.60@ 0; © “ + 0, Hogs—Re: , 600, Market 100 lower, Top, bulk, $7.40@7.60; ples, 9$6.00@56.2' Sheep—Receipts, §,700, Market steady to nee lower. Lamy i 13.00; ewes, isognso bo itis San Francisco Produce Friday Quotations | Batter—FExtras, 1b. prime firsts, 44%0 Ib. Kgar—Extrns, 200 doz; extra pullets, 4c doz; undersized pullets, 21%6 cheene—Cniitornin ats, fancy, 20%0 Ib, N. Y. Sugar and Coffee "* Quotations ipogarcotinecttied Raw, $8 ratined, unsettled: granulated, $9.60@ Cotfee—No; 7 Wo, spot, 11% @11%0; No. 4 Santos, 14%@1 era) Foreign Exchange 20,—-xchange | NEW YORK, opened irregular Aprit Demand steril 6; franca, BAM; lire, 049 16, up 120, | > market ntondy. Bterling, $4.65 11-16; 40,0604%; lire, $0.0405%; marks, 25,641 to the dollar, Liberty Bonds Friday's Quotations Burnished by Logan & Bryan 810 Second Ave, Benttle Berries High low Clone First O%ea., 101,05 101.08 a 08 Pipnt An + 97:20 wh oeor Fourth 97a Victory 4a . 100.00 Now Am versesees 0808 acres. Ae sold wheat on reports of the per cent, Altho Reports from Kan. sas City were that corn sold at the Making Northwest Products STREET JOURNA 2i—Drief as it he most critica recovery from 4 at the lov days, Any imp suggested that the prin ofeasional ve support 4 ided > Rat ote Dupont, a RTS | thicago board | Baldwin L rucible te: L {CIAL REVIEW PY Ser rere ee gon 1 test faced in recent months. Fol the break of a wack ago, prices at w level reached On three ‘succensive rant thone upward trend had been vators devoted thelr entire energy | came into the general list at the y weeks. Concentrated prea- # was employed in vain in tho effort to precip! rd the 2 the b party began a slow retreat a considerably improved tone in the final dealin. 139% up 24 8, Rub ve, 189%; Anacond 4. oft . 8 oft 3 Bi , 16%. United States Rubber 35%, up Anaconda. New York can nf. nadian Pacific, 167, %, off % - Public Markets ECONOMY § Tha, bert cane sumer, mayonnales, 40¢ Ib.; Stall a4, Btall 63, home-made ‘8 Premium ing improved a wheat was) he crop in a today was| Abouf The Kansas acreage wan ‘Traders reage will be the state re- the market there was a demand and crop. under heavy of Trade) Low Cl SLE BD L323 100,00 99.03 | ground chocolate, ths, ; pure cocoa, Ife, 3 Tha. 370; Diack neon 2 rn jephone peas, ¢ M saps ‘trutt, 6 for Be: $110, Ribbon pure can r 300 Stall 36, fresh red snapper, 2 ) freah King salmon, 20c; fresh fSerring, ¢ The. 280. Stall 13, ua clama, the; broken slice pineappl 2 4 tomatoes, 0c; puilet eses, ralsina, 100 pka.; 3 Mba. sag 2 Ths. raising, tbe, Stall § Boston atsem Brown ‘bread. 360: Boston baked | beans, t0c pt. Stail 29, 1, any kim cookles, 230 t.: ginger sna 2 elbow cut macaroni, 4 Ibe 28e; high rade cocoa, 2 Ibe. 180, CORNER aa 2, pot roast, 100 tb.7 boiling beef, toe. te. | LABOR BANKS ARE POPULAR Tenth Union Institution to| Begin Business NEW YORK, April 21,—More| nks owned and operated by organ- | ed labor will follow the Amalgw mated bank, product of the Amalga- | mated Clothing Workers of America, | | which opened {ts doors here tho other | day. The institution 1» in business for | the 160,000 members of the clothing | workers union, tho its facilities are | open to other labor unions and to the | | public, Its officers and directors are | union officials, The Brotherhood of Railway and | Steamship Clerks, Freight Handlers | and Express Station Employes, it in| |learned, has been granted a federal | jeharter for a bank that will be| | opened tn Cincinnati July 1. Thin} | will be known as the Brotherhood of | - | Ratiway Clerks National Bank of Cincinnat!, The organization will | hold 51 per cent of the capital stock | of $200,000, | The Amalgamated bank {s the tenth labor bank to begin busines: in America in the past three years. | It 1 said that three others are pro- jected in this city by the Central Trades and Labor Council, the In- | | ternational Ladies Garment Workers union, and the Brotherhood of Loco- motive Engineers, leaders of which are enthused by the success of the |B. of L, E. bank in Cleveland. VEGETABLES Prices Paid Wholesale Dealers Artichokee—C | Local Markets Celery—Cal., per crate Cocumbers--Cal., hothouse, Local hothouse... Garilo—Per RB. | Petatess—tiseat ‘white, ton., Yaki FRUITS ka, box xtra fancy | Flae—rreeh Ci | Grape Frait— boi | Homey—Comb, per case . | Lemons. ’ Almonds—I. X. L., per Mb. at per T, ae Per +s oun Mixed Nute—Per t. eid No. 1, per fo... at Budded, per tb. BT DAIRY PRODUCTS A grade, Baattle dolivery...... Eagge—Fresh ranch, white shell. Mixed colors Pullets MULk—Cwt., £0. Senttte nuppiy. F. 0. B, condensary . DAIRY PRODUCTS | Prices to Retail Dealers | Batter.Local creamery, cudes 4o | Local prints, wrapped “9 Preah ranch, white shell. pie Titlamook tripii POULTRY AND MEATS Prices Paid by Wholesale Dealers to Shippers | Pryers and Ronetere-—Live, m.. | Capons—Live, fat, T. Fancy, 4. p. ..- ‘ Hens—4\ ta. and up Medium, live, 3% to 4% tbe as ; fancy “beef steak, 8c; veal] Lave, light, $ to 2% Iba. i back bones, 7 The. 1be:| Fancy dry’ picked 3 cents above hamburger and sausage, 100 tb.; fancy live, bacon, 250; hams, 23%0. Stall 108, malt, | Geese—Live, fat, # to 10 the. as syrup, hops an@ bottler# supplies; full | Belgian Haree— ibs. and up et line ‘of Scandinavian goods; Norway | Tw cay —venes @ oo is ma. i" mackerel, 3 for 26¢; Lingon berries, 2 Ie, | Reosters—Oid, live, por I a0 the, Btalla 94-96 Pike st, pot roast, fo; | Hogs— pork roast, lhe; back bones, 7 Tha. the;| Cholce, light . Ty sirloin steak, 1b¢: gdod bacon, isc. Stalle| Heavy, fancy 090 10 102-104, Royal baking powder, 600 can |Veal— tbo; Unesda Biscuits, bc; Grape Nuts,| Fancy, light ... Ibe; 2 cans aolid pack tomatoes, cans miik, 350; 3 The, Ghirardelll late, T4e; 4 bottles Paul's Jam: bars Polar White soap, ce; ¢ big rolls tollet paper, 25¢; 6 pkgs. Rinso, 29¢. » SANITARY Stall 109, 8 Toe. best cane wu: 4 tall cans milk, 390, any kind. Btalle 31-33, fresh halibut jo; salmon, 0c filet of sole, nectar, 160, dott 45, 6 bare Crystal W sto @ custom: limited amount 0 Soe; 2 tbe, 160; home grown asparag 4 -2be Ih. spinach, 2 Iba, 160; 5 6 1.3 tom 1; Florida grape fruit, 160, and 2 for 250; cucumbers, 25¢ and|toge—Fancy block 2 each; new carrots, 10c bunch; new | Veal—Fancy, lent bunches 250, Mtalis 24-27, Ghir-| Heavy, coarse . ato Th, 2 the. 170; 4] a cans Carnation or Borden's milk, 390; 1 Medium, light. as Med. heavy, 160-200 fb Fancy, heavy, 160 to 2 POULTRY AND MEATS Prices Pald Wholesale Dealers Ducks—Dressed, per 1. Leaetipe heavy LIVE STOCK Cabin syrup, 276, b0c, 960; Del Moi catsup, 200 p' cottes, bulk, Me Quotations at bulk cocom, 250, Stalin 6-8, | Catto 240 doz,; b-tb. pail Yakima| Prime steers Pimento cheers, 2 pkgs. thc, Medium to rry and tasp-| Prime cows 7 1.5 Jam, 200 1; avy caly rb is WESTLAKE Hoss— Stalls 20-21, scratch feed, $2.25; chick| Iteht calves . feod, $2.46; cracked corn, $2.35; exe n $2.60; Gold Bond flour, ‘$1.6; Westlake Special flour, Hest flour, $1.00; "490" hard wheat flour, 42, Stalls 16-11, white soap, 7 bare 260) Cocoanut White soap, 6 bara 260; Crystal] ull lambs . White soap, 6 bara 26¢ ol nonp flakes,| Yearlings « : fo pkm.; tollet pap } Panama| Wethers, light « Pacifio pineapple, Stall 105, an-| Ewes ; 7 bare Lenox soap, 2 pure cider vinegar, 16e can apple buttor, 10¢; 3 1 the, Btall 104, boiling beet, 3 pot roast, 100 and 12 ibe; pure Iard, 160; sug Binclair’n Eastern ham, 157-168, fresh creamory butt \etly fresh ranch ong: cheen chovies, 300 Tb, rola toilet paper, 100; 300 ga WESTLAKE Burley—Wholo feed, 100" 0 Stalin 20-21, acraten fer ; chick} Rolled and ground, 80' 0 feed, $3.46; exe mash. cracked | Cors —Whole, yello n, $2.85; Gold Bond Heats $1.85; s pineapple, 2fo ean; ‘s apple butter, |Chick Feed—10 100 can; 10-th. wack t ait, £00, Stall | Chick Mash att 106, 166 can ayrup, 100; binck tas, 170 | Growing Need ta 1h.; @Vaporated sweet corn, 7 pkas, 260; | Grow 3 tha. green , 26e} 160 can apple fae sla no ‘wat butter, 100; 7 bare Lenox bidet stall eee cined Feed pall Yaktina | honey, 186; bull) apple butter, 100; 4 latKe Gill pickles, 10 400 pt. ripe olives, After August 1, 1928, all canned condensed skimmed milk in england must be labelod “unfit for babies.” , $1.85; Centennial | Prime light Primo lambs .++ FLOUR AND SUGAR Wholesale Prices Flour—Blends, local Blends, loc Art, local, Art, local, 1 agar . 10,90 Beet, per owt. « 10.10 GRAIN AND FEED City Delivery, Wholesale, Per 7: Cracked and feed meal Oain—Whole, food, 100 Rolled and ground, Sprouting, 10 Wheat—Reclenned toed, ‘Vite All-Grain Chop—8 | Cocoanut Moat Cottonseed Meal ... Linweed Ol Meal. | Alfalfa Meal |Soyn Bean Meni Hone ™ Bone—Granul | Washington Seattle 0 | ‘6 dent, yet concerned. ° | Doane a. |Charcoal—Hardwood . Fish Mi Grit Granite vicisee Meut Seraps—Hastora wages is a fool,” he would Earning a living is not time.” It is much more never gets anywhere, Work, whether it be for commission, is the giving increasing returns, of service to his job is bou W ages (EDITORIAL) “Any man who works for wages is a fool, workingman the other day. But if he had said, “Any man who works ONLY for amount of labor for a specified price. thinks merely of the time clock and the pay check self, your family, your concern, and your fellow men. Static service gets static r stantly increasing its maximum brings constantly The fellow who adds the thought For, tho there are seeming exceptions, the fact remains that in the long run we get what we give. said a He was wrong. have been right. merely a matter of “doing than delivering a specified The fellow who wages, on a salary, or on a of service; service to your- ce that is con- ‘eturns; se nd to get ahead. M anufactures M ect in Big Annual Convention Large Numb Tho election of four new trustees | was announced at the 23rd annual meeting of the Manufacturers’ As- sociation of Washington, which con- vened at the Arctic club Saturday noon. Peter David, president of the Puget Sound & Alaska Powder com- pany, of Everett, was elected trus tee to fill a vacancy in expiring in 192 The three new jtrustees for the term expiring in 1926 are OC. D. Altick, sales manager of the Paraffine Co, Inc., of Sum- ner and Port Angeles; Will P. Fish- er, vice president and sales man ager of Fishe, Flouring Mills, of and Mount Vernon; and Vaughan Morrill, president and manager, of the American Wood Pipe company of Tacoma. Altick will represent the paper and pulp group on the board; Fish- er will represent the food products manufacturers, and Mo: the gen- eral manufacturing group. There | were no vacancies to be filled for | the term expiring in 1925. MANY DELEGATES ARE ATTENDING 4,500 invitations were malied Washington manufacturers to at- tend the meeting which, while being the-annual meeting of the associa tion, is combined with the third an- nual convention of Washington manufacturers regardless of affilia tion with the association. The at- tendance with which the meeting opened gave promise of its surpass. ing all previous conventions in at- tendance and interest. ‘The program for the afternoon will be very largely a business meet- ing. An Interesting discussion will be opesed by Harry J. Kempel, of A. F. Ghigiione & Sons, on the sub- Sect “Why Washington manufactur- the term | to} Association Meeting Draws er of Visitors patronize Washington | manufacturers From 2 to Jo’clock the Tregoning Manufacturing |company will keep open house for | |visitors from outside the city who} may wish to inspect local industries. MANY SHORT TALKS |AT EVENING SESSION | At 6 p.m. the delegates will have dinner at the Hotel Gowman, and |the evening meeting will ‘begin at |7:30. The concluding feature of the evening ession will be an address Jon “Trans-Pacific Commerce,” by O. D, Fisher, president of Fisher Flouring Mills, who has just re- extended trip in Jers do not jturned from an the Ortent, During the evening there will be five-minute talks on a variety of subjects of importance to manufac- turers, Among those who will speak are: “Agriculture and In dustry,” Ernest W. Fry; “Pulp and |Paper Industry of Northwest.” N. B. Gibbs, Washington Pulp & Paper |Corporation; “Our Wool Resources Jand Possibilities,” L. R. Steelham- |mer, Vancouver Woolen Mills; “Cre- Josoted Products,” H. EB. Horrocks, Pacific Creosoting Co; “Fruit ” W. O. Eckert, Eckert Fruit Co; “Calendar Advertising,” F. B. Wines, The F. B, Wines Co.; “Prob- lems of a Foundryman,” D. G. Me Intyre, Skagit Steel & Iron Works; “Snohomish County Industries,” W. . Gamble, Snohomish Iron Works; Packing House Products,” K. J. Maxwell, Carstens Packing Co.; “Ice Cream Mix,” F. R. Klumb, Capital | Juice: ington,” Roy M. Anderson, Walla Walla Iron Works; “Applied Lime Products," W. D. Demorest, Interna- tional Lime Co, and “Beet Sugar Industry,” J. W. Timpson, Utah- Idaho Sugar Co. FUTURE HOLDS TWO CHANCES Proper Balance Necessary to Preserve Prosperity BY D. C. WILLS Chairman of the Federal Reserve Bank of Cleveland (Copyright, 1933, by United Press) CLEVELAND, 0., April 21.—The immediate future of business will de- pend on the temper of the people during the next few months. Conditions today have all the ele- ments for stability and long pros- perity. Industry Is boiling, everyone is em- ployed, people are making money, and spending it, but economically and carefully; manufacturing Is being done, goods are being moved, not stored; the retailers are at a peak in their business, some of them doing more than ever before. Credit is ample, and seems to be wisely used, not abused, Building is a bit hesitant, Rightly or not, investors hesitate to build with prices as they are. ‘There is a gradually increasing de- mand for money, but it is being used currently In manufacturing and mer- chandising more than for investments and speculation. Bank deposits are increasing. The labor situation contains the germs of disturbance from both the employers’ and employes’ angles. Business Js at the sume time confi- If, with our present prosperity, we can remember and profit by the excesses of 1919 and 1920, the outlook ss hopeful for years of good times, Anticipation of business beyond reason might bring a quick reverse, or @ boost In prices may bring on a buyers’ strike, As long as we keep proper balance, we are reasonably safe, The econom: je future ts up to the people, and de. pends on whether or not they keep their heads and act sanely and wisciy. New Company Buys Three Drug Stores The revently organized Jamieson. three Swift drug stores, according to an announcement made Friday. The stores purchased are thosy at E, 60th st. and University way, Broadway and Thomes st., und the West Seattle store, The company also will operate tho Capitol Hill pharmacy, at 15th ave, and Repub- lican st., owned by Jamieson, The new company har been incor. porated with a capital of $100,000. ¥, J, Jamieson, formerly owner of the Puritan, Sunnyside, Madrona and Capitol Hill pharmacies, is pres: ident and treasurer of the company, R. B, Doane, who has been manager of the various Bartell drug stores, 99/18 vice president end general man Drug Co, has purchased | PLAN TO BUILD THEATER CHAIN Seattle to Be Headquarters of New Movie Houses Seattle is to be the headquarters fora new chain of moving picture theaters, according to a wire received here Saturday from B. E. Togersen, president of the National Theater as- sociation of Seattle. Togersen’s wire states that he has closed a deal whereby the Bankers Reserve Depos- it company of Denver will guarantee all stock issued by the theater asso- ciation for the construction of its new theaters, The National Theater association is the owner of patents on Togersen theaters, a type of construction that is sald to increase seating capacity $7 per cent over any gtven area, and at the same time supply a greater space in the foyers. The company plans to sell its securities in issues of two and one-half million dollars, each {s- sue being estimated to build four the- aters. It was explained by officers of the company that the guaranty contract means that security holders may share in tho profits of the the- aters and at the same time have full protection as to the principal. The association plans to build the first Togersen theater In Seattle, fol- lowed by others on the Pacific Coast, and later extending to the East. Se- attle is to remain the home office of the association. Brazil Has Heavy Balance of Trade figures for Brazil for 1922 are not available, but practically complete returns Indicate that this country is in a more healthy financial condi- tion, The balance of trade favors Brazil during 11 months of 1922 exported coffees valued at nearly $200,000,000, while other exports totaled about half this sum, Officially, for 11 months of 1922, Brazil's imports were only about $20,000,000, A feature of the Brazil imports is cement. The importation reached 261,793,000 Kilos during the first 10 months of 1922, or over 26,000,000 a month, While tho United States and Belgium have proferred duties on co- ment to Hrazil, Germany holds first place by a big margin, Denmark is second, England third, and Belgium fourth. Tho United States ts fifth, Europvans in Portuguese East Africa make a blg market for tollet goods, such vs tooth paste, talcum powders, yertumos, lotions, lipyticks, creams, aad rouges. Natives’ com plextons ere adapted to the climate and need jess artificial assistance. Diamonds have been discovered at Brownewng, Dutch Guiana, Thie dis. triet has yielded gold for over 40 years i RIO DE JANEIRO.—(By mall to Ms United Press.)—The official trade | A in 1922 by about $88,000,000, Brazil Pi WATCH BONDS SAYS BROKER Livermore Warns Public of Security Influx “The vast amount of undigested securities of new companies of every , including corpora. |tions manufacturing everything from patent medicine to # threshing |machine, which 1» overhanging the security markets at the present time, is not a healthy situation,” according to the opinion expressed by Jesse Livermore, Wall Street operator, in a signed statement wired Friday to James Macfarlane & Co, of Seattle, “I think it fs time,” said Liver. more, “that the American investing public should be given warning that they should discriminate in earnest and thoroly analyze the class of investments and speculative holdings that they possess. I do not want to be considered a pessimist, one has only to look back a few years to |see what happened to the prices of certain securities, After they had been forced to their extreme high + prices, stock dividends were declared in order that the insiders might find a ready market to cash in their profits, “During the last year this eame method has been in vogue in @ large number of listed securities, and jthe public will probably find that jthe future will show a repetition similar to what happened before. 1 do not mean to say that all the new securities that were brought out did not have merit and will not prove to be good investments, because a lot of them will But when ‘the time comes, as tt will, jand the holders of these securities undertake to switch thefr investments they will find difficulty in finding & ready market for a larger portion of these new kind of securities. “It is not a healthy situation to have so much of the public's money tied up in untried securities where there may be ea market today but tomorrow there may not be, “At the present time, according to all reports in almost every line of industry, the volume cf business being Gone and orders on hand were never much larger in the his- tory of the country, not excepting the big boom times of 1920, But the mere fact that we are doing this great volume of business has brought about a situation that is very apt to retard a continuation of our prosperity, due to the fact that all lines of finished producta ere paling of vey eee No manufacturers of tobecce arg located in British or French West Africa, and the entire consumption consists of unmanufactured leaf, 1x) porters in the United States have = concelvable kind, .|large business selling leaf bacco treated with specially ‘west, 34 miles an two-mast freighter, red Dorothy Alexander from San pti San Pedra, Bam Srancioo end Visteelas uth ka, at 9 a m; str President Madison Manila, at 11 a m 1s—ste. les for Manila ‘vie ports, at 9:80 &. hip Biam fo via for Ban Pedro via Tacoma, at 3 mn er Shidsuke Mara for Tacoma va Vans! isha —BStr President Madison. Ant Ship Oriental. Northern Terminal—Str Hakata, Owego. 8—Schr Fanny Dutard, 6—Str Floridian, —Btr Jet! thy Alexander. Union Pacific Terminal—Str Panaman. U. 8 Bhipping Board Moorings—Str loos ‘nium, str Silverado, str Anna E, Morse atr West Hartland. Qennacrieey Street Terminal—Str chattas City, atr We atiant tle Stres ‘Terminal—Sohr ‘Mindas, pathe Bhipyard—Str Oduni King & Winge—Motorship Ruby, motors ip Anvil ie Street Terminal—U, 8. G. 8, Plow }. & Discoverer. commercial Boiler Worke-—-Str East Waterway Dock & Warehouse Str Memnon. Todd Drydocke—Str Commercial prepared: sauces and known as “Black Fats.” © Fg eric iio str Bagadahoc, bey 4 ©. 8. Puget ‘sound ‘Drldee & Dredging Coste Patterson, Harbor Inland Dock & Warehouse (ish er'a)—Bir City of Bpokane, Drummond Lighterage Co—Str Pott ; A .. Ames’ Terminal Co.-Schr Geo, B. inga, schr Henry Wilson, etr San ate Kashi Maru, Nettieton’s Mill—Str Hi Cionta, Heffernan’s Dry dog Motarahi Ory Stream—Buoy No, 6--8hip Abner ote 4 ny W. B, Plint, Canes Coquitlam Git Taliwaje—Btr font bark: barkentine James Tuft, whalers Now, a &