The Seattle Star Newspaper, April 25, 1923, Page 16

PAGE 16 | | RETAIL TRADE Sm MEETING HERE| State Convention to Study Consumers’ Problems 3 Retailers Yrom all over the state 3 flocked into Seattle Tuesday night and Wednesday morning to attend The fourth annual convention of the Washington State Rotailers’ assocta tion being held at Frederick. @ Nel son's. Registration of delegates be- gun at 10 o'clock, and the convention opened with a noon luncheon at In- @ian Summer cafe, Closer understanding and co-opera- tion between retailer and consumer will be the dominant tone of the con: Yention. The problems of the con sumer will be considered both- in ad dresses and tn informal discussion. THE PROGRAM FOR WEDNESDAY * Wednesday afternoon's program Will begin at 2 o'clock, with the President's annual address, by Ray EB. Rigelow, and the treasurer's re- port, by George C. Pratt. The pro- ‘Bram will include addresses by Har. fy L. Cahalan, Yakima, on ‘Future Possibilities of Washington State Re tallers’ Association’; Edwarnt A. MacLean, Portland, on ‘The Oregon Plan"; Joseph T. Crowder, Vancou ver, B. C, on “How It Works in Canada," and general discussion, led by Albert B. Jones, Z. Y. Coleman, L, J. Titus, H. H. Van Brocklin, Blake D. Mills, E. C. McReavy, George Guy, Guy Smelzer and H Schoenfeld. WILL FEATURE THE CONSUMER “O wad some power the giftie gie us ‘To see oursels ar ithers see us; Tt wad frae mony a bdlunder free us And foolish notion.” ' This quotation heads the pro- > gram for Thursday, when the con- “Yention will delve into the problems _ Of the consumer. Thursday's program will be as fol- lows: _ 9;30—“How Farmers and Mer- chants Can Help Each Other,” W. H. Talley, secretary manager Washing- ton State Farm Bureau. ‘amiga State Federation of Labor. Store," William — Short, Seetaeat State Federation of Labor. 10:45—"The New Industrial Coun- ‘ci” George A. Phillips, Spokang 2:00—“A Woman's Comment on _ the Modern Store,” Mra. Henry Lan- | des, Seattle city council. | (3:00—Discussion on “Religion and ) Service in Modern Business,” led by ‘Dr. M. A. Matthews, Seattle. ‘3 okey 00-—Elections will be held, fol- lowed by adjournment. At the same | time there will be held a Indies’ 4 O'clock tea in the tea room, thru the ‘courtesy of Frederick & Nelson. (00—Annual banquet at the New hotel, tendered by the manufacturers and job- og tral Leather quarter ending 31, deficit reported of $1,490,- after taxes, etc., versus deficit ($230,217 previous year. City Southern earnings in were $1,963,613, increase d Fuel quarter ended irch $1, reported surplus of $382,- } versus deficit of $431,269 in versus deficit of $307,355 in S. Steel, thru the Illinois Steel, advanced its price for bars, and plates, $3 a ton. Altho 9 announcement of this action has made or contemplated, the in- is received from unques- Pasco year ended. De- 81, Including subsidiaries, surplus of $4,594,792 after ex- taxes, interest, but before tion and depletion, versus 89 in 1921. he semi-monthly meeting of Se- Purchasing Agents’ association be held Thuraday, April 26, nt at the Arctic club, A feature of the meeting will be a “send off” to W. B. Donaldson, who rill go to Cleveland, Ohio, to attend eigith annual convention of the Association of Purchasing mts as a delegate of the Seattle oclation. Donaldson has been minated vice president of the as- on and has the support of sev- ral other Coast associations. He ins to boost Seattle and the North- tat and hopes to get some of the gates to come to the Northwest Seattle Real Estate associa. ‘will meet Thursday, at the Ho- “Butler, at 1215. The Seattle of Commrece chorus will present and supply the. music. interesting features are plan- hn W. Roberts will address the ers’ club at a noon luncheon u y. He will speak on the sub- of taxation in King county as d by municipal and _ publicly d enterprises. P Business Changes A. Gieke} & Co, will vacate their in the White building May 1, to the Smith building. : Pacific Northwest Lumber ipany has rented 4442 White- Stuart building. ‘VOUCHER the aceurnvy of accounts, re- checks, or other papers show: mt or authorizing expendi. a SEATTLE BUSINESS—Finance, Produce, Shipping, Real Estate, Building (RE. BIGEI [RE BIGELOW) New York Stock Market | w NEW YORK | a new high fo dividends re the first thm Experienced tradits of big point t arter 1 wh Ste 105%, up Tey, up RAN CHICAGO, another cold Avance Six to 18 tn: ted coverin pe the market he: mix months, T Mohler of the ern secti tion, but poor lack of molaty and offers at all primary ‘BUSINESS MEN: NOT EFFICIENT :: in many sectio apring work, Prospects of a mand. Londoner Says E England Has Better System American, business houses are n If atec | | Sugar stocks se | h moved up a p hing price ARE HIGHER April wave n the boa agriculture showed Corn met with siderable falling off. fh wheat an unfavorable o¢ ALL STREMT JOURNAL FINANCIAL REVIEW Apri Prices were stimulated in the early dealings by Biban raw. sugar and by the surplus of $6.000,C00 after rin by United Htates Bleel for the first quarter, "This was in two years that (he corporation covered all exp traders argued that it would not be true to Wall Birest| ing with prompects a atarted on some t 1 comm: ly returns for on initial trans red g¢ tions, unde Bethlehem, Ualdwin Le at fo PRICES — uM he now Ww ig the wheat fie perta predicted Europe would be in| ding ‘up work. avily during the next] he report of Secretary Kansas department of in exoellent condi In the West, due to wheat In the| ne @ permanent dec tine to come, Steel jumped « and Hethiehem also gained r the lead Ameri Amer Leather 10% Lovemotive Amer Te atawin at ure and high winds nod cash wore Hight. Receipt markets showed con- The strength ditions na of the corn belt for with the light move ments from the farms caused most | ¢ buying: | influenced by th Offering in the more «) cher with the better European de-|F Chicago Board of Trade} ‘Tuesday's Quotations — Open High Low |ereatly overmanned, accorting to : ie ee ee cae Kenneth Durward, a well known | Laie Lah Lar Lath clothing manufacturer of London, so4 94 | who has been visiting Seattle as the eee) | guest of Chester W. King, president oda aed of King’ Brothers. ay 4s #4 | “Fewer men do the same amount aon 8 tg of work in England," said Dur- tn) ane aw ni “The trouble with the Ame 99 40T 18 fean business man is that be ts 1.58 3183 1148 continually letting himself be tn- 0.00 terrupted by conferences and calls. ue Many times I have found executites with thelr morning mail still un. [finished in the middie of the after hoon, all because he hay permitted People to Interrupt his regular morping routine work. “In England we use a different system. When I reach my office I get to my mail at once. When that | is finished, I go over the previous day’s reports and attend to other routine work. During all this time no interruptions are permitted. The result Is that by 11 or 11:30 my routine work is done and my mind is free and my time is available for other things. "People often ask how the Eng- Ushman find time for all their recre- ation. We take our whole or partial | afternoon off for golf and other| outdoor exercises, and the American wonders how we do it. The anawer! lis, in part, that our system of business operation eliminates so) | much waste that is permitted by the| American system. “Another answer might be that | our recreation keeps us in good/ physical condition. When we go to} our offices wo are fedling fit and | all keyed up for the day's work.| | In other words, we are in a high state of personal efficiency. Ame fean business men could well aftord | to play more.” Durward made hls present il largely to play golf, he said. “There are two places I like to play golf,” | he explained. “Del Monte and So-| attle. If I was ever compelled to live outside of London, there Is no| Place I would willingly live except | the Pacific coast, and there ts no| Place where I would willingly spend | my summers except Seattle.” BUSINESS IS NOT UNSOUND Even Farmer Is Improving, Says Report ‘With the very large purchase pro- poned by the railroads, with iron out- put (long the index of general trade activity) at positively record figures. with capital free for investment pur- poses in unusual amount, credit gen- erally good, labor in full and over. flowing employment, with every binst furnace in the Pittsburg district | blowing for the first time in years with all these signs of high business activity, swinging in full sight, pres. ent prosperity must be accepted as on actual fact, says the Bache Re- view. If industrial costs and the general plane of prices could be locked fast at their present level, the period of prosperity could be maintained in- definitely, But labor costs and farm prices are far apart, and even wid- ening, and there is a corner in labor which may lead to greater and great- er demands until high prices paralyze the whole movement. But even the farmer is doing bet- ter, Armour & Co. says “Despite all that has been said about the poverty of the farmer and the necessity of financial aid for him, he is in a better position than he has been for several years. He is buying. Mail-order. house reports, farm implement manu- facturers’ eports, and country bank clearings, all show that he not only ts buying, but has bought, and his buying has extended a little be- yond necessity.” ‘The political influences, both here and in Europe, are adverse, but for the present we are going ahead on CHICAGO, Ap 3 bard, 31.26% Batter—rxtras, derntsed Cheese—Californ: granulated, $9. ‘effee—Spot No. Bantos, 146 Balances Tae APRIL 25 12:36 Fires 05 Dom, LE Weather calm. Paased w man from Port Pildeuone Mare cow jen from Hic * Nevada for land, Ban Pedro April 22—8tr Ki Coon Hay and ¥ str Point Lobos ate Yoren Maru At 12:46 p. m. Vessels in atr zuoke Maru tal, ©. Gor str Shislakoff. Groat Maru. miral Evans, Pier 14—Str Phi Pler Str Port Rodman. Bonttle Atlantic Street the year, a continuation of the bull market will show it, But the investor must not neglect the fact that some industries are al- ready at the peak of the movement. Others have probably much further to go, but the most cayeful discrimi nation is necessary, Some observers, whose conclusions are entitled to at- tention, belleve that improvement in business “is definitely in jta upward sawing and that the era of prosperity will continue Puget Sound Bi Str Patterson, cute, Ames Terminal str fon Juan, Blabeto, bark Belfont, Tutt, Cash Wheat as, tte | N.Y. Sages and Coffee Tuesday's Quetations | Sagar—Pirm. flew, $4.25 Wo@>i5 7 Rio, ite Ihr No « ite tb WEDNESDAY First High Tide m., 11.1 ft. |1:62 am. ILE ft. Lew Tide Vir Low TATOORH ISLAND, April 24 —Barometer rising; rT Toklwa Maru trom ‘Kobe ‘le Bmith ‘Cove Terminal— oy: President Teurvsbima Maru. 1p Bend. whalers Star Nos, 1, wil 24.—-Cash wheat—Ne. : San Francisco Produce Tersday’s Quetations (30 1%; prime fire don.; extra frets de don; un ia fata, feney, ie Ib, | a | refined, qaiet ees sa Clearings .... -s+<+ 7,210,310.00 | + 1,657,802.00 | Tacoma | Total 2 Fiche dbaias nears + 4,374,000.00 | Ship News in Seattle APRIL 26 Fires High Tide oe ee Bureau Report clear; iene tes: in, str Los Ange! t, mtr Hornee X. Baxter, ¢ Labres, at § a m.; stf Arrivals and Departures) AKKIVED—April 24—8tr Admatral Rod- Angeles, at 6 a. m.; str from Tecoma via Van- mond Beach, at bach for New York via ports, at 4 @. m.; Hull via Tacoma, and Balboa, at 4 a. m. ‘ashi Maru for Kobe via okebatan, '4t 20:18 p.m 0, at 2:20 p. m. for Tacoma, at 1 p, m. for Kobe via Yokoham: ; Port at Seattle Pier A—Str Cross McKinley, Pier Be-8tr Shid- Anchorage—Ship Orien- F, Packard, barge Guy an. Boll Street Terminal—Str Santa Flavia, Northern Terminal—Str Tokiwa Grend Trunk Pacific Terminal—Str Ad- atr Queen, iloctates, Pier 11-B—Htr Owego. Angoles, Pier a—Str Alameda, Plor 1—Str F. J. Luckenbach. Pler B—Str Admiral Nicholsor Pier D—Atr H. F, Alexander, str Admiral Shipbuflding & Drydock Co Power ship Boxer, U. 8. Shipping Board Mooringy—Str too- nium, str Anna B. Morne, ate Stive: ntr Weet Hartland do, ate Delight, ‘Terminal—Sehr Minda- nao. King & Winge—Motorahip Ruby, motor- cur own self-contained favorable} ,*n'h Anvil. Dock & Wi bases, If business growth, with rea. ar iain Dollar, tadpihica sy wonable profits, is to extend beyond|Todd Drydocke—Str Aagadahoc, atr Remus, sor C. & Molm ridge & Dredging Co— Harbor Inland Dock & Warohoune (Fish: ora)-—ftr Nevada. Drummond Lighterage Constr Im ot. Co-Sehr Henry Wilnon, tleton’s Mill—Wktn Makawalt, Drydock—Motorahin Oregon, Buoy No, 7—Ship Abner Coburn, ace WT. Flint, Puget Bound Lamber & Box Co.—atr x Winslow, Marine) Rallway—Atr Cassar, barge Coauitiam Cit 1, 4, 4 bktn Samos demand | r Now roel | Calite Chai Hupp Moto jIath Paper | tate Nickel Invinetble Ott ol Tea * ial Springtield.. anecott.... eymtons Tire | Loew Theaters Lima Locomotive. Mack Truck Maxwell Motors A.. ¢o B Mexican Heaboard O1i o TH Menelting UL & eel Corp. de pid. Vanadium steel. . | Westinghouse Eieo eee Forei reign Securities rehip of Cuba Cane, SEATTLE whole point pia, hd Furnished by Logan & Dream M10 Second Ave, Seattle Btocke— Russian #4 Russian @4, French ts, 1921... [French 4s, 1917. French 3 Britta . Brition fe, 1920 British Vietory Britian Ret. de Deigium Hester || Ger Ww. L. te 0 p. m.; two-rmant motorship, at 7116 |19,30 Passed High Low 101.09 Third 4% wheres Aa, 8. 9718 tee AHA. «100. + bd Chicago Car Lots ‘Tuesday's Quotations #10 Becond Ave, Keattle is. Cont. Esta. it ut ast ” at 16 NEW YORK, April change opened earior. 54.66%: francs, $9.0672 Belgian france $0.0682\%; marke, to the dollar, off 644, Foreign exchange cloned lng, $4.6 france, 40,0496; marks, 20,075 to the dol Freight Rate Cut addy. agen will be reduced in the Seattle Tuesday. Soft drink $2.04, territory on June 1, Foreign Exchange 24.—Voreign ex- Demand sterling, Ire, $0.0496 $o-0078 4h; Anes | i | 104% “ Farnished by Logan & Bryan Lt.Yr. 168 217| 124} ° 30,629 Ber ir lar, on Bottled Stuff Westbound freight rates on bever- near future, according to word received in ship- ments from New York will drop trom $1.65 to $1.61 per 100 pounds, Malted Milk rates will be cut from $2.25 to The new westbound rate on corn and corn products will be reduced from 64 to 69 cents from mid-western Win Insurance Case in Supreme Court |." The heirs of William B. Bi of Tacoma, will collect on an ings, ingur- ance policy, after carrying their case to the United States, The rend that it would not bo effective le polley Until delivery to Billings “In his life. time.” The court ruled that ory to the company's agent wi ficient compliance, | Apple Blossom Festival, and a silver- | Surated, deliy- suf. STAR WEDN —— AD CLUB HOLDS |Many Building Trades Sign New Wage Increases Made i BASEBALL DAY! Indians as Guests Promise Big Baseball Year Hot dc That, taken elther as an efacula tion of approval merely as an article of food, Is descriptive of the Tuesday “Haseball Day” The approach of the May 1 period finds the following outstanding fea tures in the building trades situa tion thruout the country New wage poales belng signed up on the Junch of the | basis“of substantial Increases; prac Seattle Advertleing club tieally a 100 per cent employment “Hot dogs,” pop, tee cream bars,|of labor, the bonus system still gen near beer and kindred baseball edi and likely to con Dies were on the bill of fare, while/tinue, and a general tendency to the walla were decked out with all |adjust differences in such # way an the usual baseball billboard literature. | not to disturb the progress of build Hughnon’s Jazz Houndn, cardboard | ing activities, according tc « general haloes proclaiming the Wenatchee |puiiding labor survey Just completed by 8. W. Straus & Co. “The necessity of practical revi procity and co-operation between employers and employes ts now #9 rent to all’ concerned J stand on the part not at this or erally exintent tongued delegates from Wenatchee | who told about the festival, baseball and modern inventions, were other features that led the meeting away from the attitude of solemnity, The Indians were at the tunch tn a body, and were each presented by radic |nide doen of either | time seem | |likely, the survey continues, “An Manager Harry Wolverton, Short) analysis of the now wage adjust- talks were made by Charlie Lockard “ ments which nave recently been president of the Besttis ball 1 4 be 25.5 made tn various elties shows that Wade ("Red") Killifer, its secretary: |istor is inclined to fully 00 Frank Pppe, Jim Boldt, Thos. é 7, GORD OD | “ sate iteelf in keeping with the groat Stevens, treasurer, and Alfred Put-|{0 ona tor it and. the. tnorensed . d 01 r noren. nam, secretary of the San Francisco | swwreie 70 Francleco | cost of itving, and that builders club, and others. The oratory was supplied by Jac’ Sullivan. president of the Se attie club, who told about the united effort of the team and the manago- ment to give Seattle one of the best ball teams in the West » |At® endeavoring to hold the unions within bounds which will not make future construction probibitive on the score of cont. "In Chicago negotiations have jbeen completed which may Insure ‘These were only a tow of the fea-|Peace for some time between work- tures of one of the most interesting |""M and employers, the Chicago meetings the Advertising club has| Building Trades counctl having.sign held since tts new policy was inau- | & three-year agreement with the |Butiding Construction Employers’ as- sociation, with the Landis award as the basis for all disputes. Brick. layers bave signed an agreenwnt of $1.25 per hour which practically sets |the new ecale for other skilled work- ers in the Chicago district. Landis vice Local I Markets + ber t, mb, Mh lan hour will recelve $1.15 after bunch, Gee May 31. Carpentera not working ts | under the Landis award have served al, Imp. Colery—Cal., par or Cocumbers—Cal, by Local hothouse ... Per B. and tt Is reported that contractors xenerlly will pay that scale. 400/ Bimilar increases auked by struo- 46° | tural tron workers, plumbers, plaster. 42@ 17/¢FH and steam fitters will probably 30|be granted. The painters who want 18.90 poet | $1.26 have already nigned an agrec- ts | ment with employers making Satur. siday @ holiday. The tile layers’ unions (fireproofers) have signed a |new agreement with the Fireproot Jers’ association, granting them 15 cents an hour increase, or §1.27% per hour rate. “In Minneapolis a new scale effec nei | }tive June 1 grants a 10 per cent in- crease to all nkilled labor, which ap: piles to 13 other Minnesota cities. In | Louisville carpenters have signed 8 ror an increase; in Duluth contract: ors have decided to grant an Increase [to mowt trades, effective June 1, | ranging from 10 to 12% per cent. In Atianta, Ga., and Columbus, Ohio, increases have been granted, and in Buffalo bricklayers are re- OWD ses reeas Parsiey—109. ds Ig. benches, Green Peae—Per t . Bi; Turniye—Cal., don. bunch: FRUITS Prices Paid Wholesale Deniers Apolro— Arkansas Die w Almonds. X. 1, F scdontboen Peanute--Va, per 1 164 = FOREIGN TRADE DELEGATES 60 Seattle Men Leave for New Orleans Convention “The Pacific const will become the chief theater of eventk.” This state. {S| ment, made by Willlam H. Seward in 1853, Is revived by the Pacific const delegation to the 10th national foreign trade convention at New Or- |leans, beginning May 2, for which ‘the Senttle delegation left this morn- ing, That the convention will de- vote the afternoon of May 4 to Pa- | Pecans—Per To. pespapay Per Me see. s seems . No 1, per DB. ae 7 Jambo budded, per Tb. ..sec0 a Fancy bodted, per T a DAIRY PRODUCTS DAIRY PRODUCTS Prices to Hetall Dealers Butter—tocal creamery, cubs a printe, wrapped Cheese— Or, triplets severe Wiseonain cream Drick ose. se Block Swiss .. _ Wash, triplets ‘Tillamook triph POULTRY AND MEATS Prices Vaid by Wholesale Dealers Me - | to Shippers: cific coast problems is considered Lagoons at Bact {8 |au a beginning of the fulfillment of 43 | Seward's prophecy. ‘Ei |_ The delegates trom Seattle left for Medium, live, #4 to 44 fhe iis | Los Angeles at § o'clock this morn- Live, light, $ to 8% the, .. 1¢)}ing. They will be joined en route Yancy dry picked 3 cents above by delegates from ‘Tacoma, Portiana dean nis, Ai Vis t0 as, 4s |Astoria and California cities, Fro |, Belgian Haces—4 the and up. <12| Los Angeles all of the delegates Turkeys—Pancy 4. p., §-16 Tha. 43) will go to New Orleans on a “Pa- Roosters—Old, live, per TM, cece lo} cific Coast Special.” Leaving Seattle this morning were Clancy M. Lewis, secretary of the Manufacturers’ association of Wash- ington; William Pigott, president of Chotee, UENt cannes me coerece WMeavy, (0067 wo. seoees Cholee, light sos. Veal— Fancy, Nght .«. 0 wncee Medium, ight eae: tte 14 | the Pacific foreign trade councll; Med. hoary, 150-200 Ths. ..-. 09@ .1¢/ Join O, Hausman, president of Geo, Fancy, heavy, 160 to 200 the.. 10g “ig, Bush & Co.; W. C, Dawson, pres- POULTRY AND MEATS {dent of W. C. Dawson & Co,; Jo Pept whiny dice at aap Deniers seph A. Swalwell, president of the Fees pron tery 3H | Union National bank; C, H. Howell, Dressed, light . prosident of: the Seaboard National bank; E. J. Kooers, of the import and export department of the North- (em Pacific railroad, and F, B, a2| Wright, president of the Everett 2 | Frult Products Co, Fanoy, light. Heavy, coarse “ Medium, dressed .. LIVE STOCK Quotations at Stockyards New Issues ‘The Midwest Joint Stock Land bank in Edwardsville, Il, with the approv- Catt! eaG staais al of the Federaf Farm Loan board, Medium to has changed its name to Tilinots writ lich Midwest Joint Stock Land hank. This bank, operating in Illinois and Missourl, has sold to Halsey, Stuart & Co., an issue of $750,000 Joint Stock Land bank 6 per cent bonds, which are being offered at 103 and interest to yield over 454 per cont to. optional date, April 1, 1988, and 5 per cent thereaffer to maturity, April 1, 19538. ‘These bonds are obligations of the Illinois Midwest Joint Stock Land bank and are secured by either first mortgages on farm lands or United Menvy calves Bulle. Light ealy Hoge— Smooth heavy sce. Rough heavy Pies Sheep— Prime tambe Cull lambs Yearlings . Woth Meng Bwea . FLOUR, “AND SUGAR Wholesale Prices Vlonr— By le, 49°, bbl. iBtende, toc ae aa ay ret | States government bonds or certifi- rebel haertitied 7.80 | cates of indebtedness depoalted as col- rt, local, bal ‘ Sdgar—Cane, per owt, 4.35 |tateral, ‘The lability of the bank's shareholders is double the amount of their stock. These bonds are exempt from federal, state, municipal and lo- cal taxation, Beat, per owt. , City Delivery, Wholesal Rarloy—-Whole fred, 10 Rolled and ground, § n—Whole, yollow, 120'n ‘aoked and ford monl, 100" Oate—Whole, food, 100° Rolled ahd ground, 7 Sprouting, 100’ . Whent — Whoat-Mixod food, 80 Cocoanut Meal... Cottonseed Meal. 0 | Linseed OF Meal ...,. Alfalfa Mealy... Moai | Chick Mash dy ict with BM. Growing Feed: ‘ Growing Mash 100 on. M. ee Mash—-100's, no. B M. teh Koed—100'n notice that they want $1.25 an hour, | ojeach consisting of 2,000 or 8,000 of in Many Cities Besid Seattle | ceiving $1.26 an hour, which includes | | bonus of 12% cents. In St bricklayers are demanding $1.50 an | hour and painters have signed up for $1.06 until May 1, when the scale will £0 to $1,12%. In Detroit some trades have been increased 20 per cent; tn Kansas City, common labor is paid | jas bigh as 76 cents an hour, ‘In many important Southern cities & shortage of labor ta reported and} any new wage scales are based upon this situation, In Oklahoma City jfteam fitters threaten to strike un loos they are granted $10 @ day; in| | Boston, increases have been allowed for 1924 with further increases in } 1924; in Atlantic City all trades not 4 {ner | increases have been granted from 10 to 26 cents an hour for skilled mo-|quent small monthly and laborers are recelving| 600 with an increase of 10 cents after | chani | July 1 | “In San Francisco there ts a shortage of labor, and contractors are nearly al} paying more than the! ficale; in Nashville, Tenn., the labor situation is reported easier with five cuts In wages and two increases et- fective May 1; in Omaha, Neb., five trades have signed agroements and the building crafts’ strike is believed to be nearing a settlement; the car. penters have returned to work at $1.10 an hour, an increase of 10 cents, }Other crafts have also received in. | creases. | “In Erte, Pa, contracts have been mgned giving increases to car car- Vere anh ite entecn ana oan other trades; in Richmond, Ind., new scales have been signed covering two | years with bricklayers at $1.40 an hour, At Shreverport, La, bricklay-| jaward carpenters now recelving $1| ors have signed at $1.50 an bour; in| Portland, Ore., where labor has been | stable for a long time, a general in- crease of 10 per cent s now asked, but in Seattle, Wash, the present scales will probably be continued for six months, In St. Paul, Minn., in- | creases will probably become effective |June 1;\in Albany, N. Y, a few tn- | creases will become effective May 1; |in Toledo, many bonuses are being mon labor has been advanced from 10¢ to lfc an hour, “Early settlement of the situation in New York 1s anticipated. Despite |the prompt refusal of employers to meet all the new demands of the unions, it is not now believed. that any serious strikes will occur. Brick- layers now receiving $4 to $10 above the $10 dally scale will, it is believed, |continue to enjoy bonuses Many new scales have been signed up on an increased basis, and bonuses will continue In many crafts, “Reports indicate that the common labor rate for the nation, as applied tion operations, is placed at 60c an hour as against 49c for the preceding month.” TRAFFIC MEN IN SEATTLE Western Convention Begins Here Thursday Retail traffic experts from the whole Pacific coast are arriving In Seattle to attend the second annual Western Traffic Conference conven- Lion to be held at the Hotel Gowman Thursday and Friday. The conference was formed tn the fall of 1922 in order that retail deal- ers might be able to present a united case in traffic problems before the interstate commerce commission. While this was the original incentiv for the formation of the association, it was soon merged Into the larger object of benefiting traffic men by the exchange of ideas and discussion of traffic problems, ‘Thursday's program will be as fol- lows: $:15—Registration at headquarters at Hotel Gowman. 9:00-—-Opening address by Chairman H. N, Moore, second vice president Wentern Traffic Conference. 10:15—""Co-operation,” an address on the yalue of personal contact between shipper and carrier,” by W, A.Baker, traffic manager Mier & Frank, Port- land. 10:45—""Fast Freight Express Package Car Service,” by Herbert McEwen, manager Acine Fast Freight Express service, San Francisco, 11:15-—"Ingurance and Pi by H. Browning, Broadway Las Angeles. 12:16—Luneh, at 3! Emporium, San Francisco, “Transcontinental Rate Situs ‘. ‘ettrick, transportation Beattie chamber of commerce, a {fic Situation in Intercortal ‘Trade as Seon by Steamship Lines.” Mileage Book Order Stands WASHINGTON, April 26.—The interstate commerce commission to- day deferred to the injunction grant- ed 49 Bastern carriers by the fed- eral court in Boston, Mnass,, re- atraining {t from compelling the roads to commence the sale of inter- changeable coupon books on May 1, and ordered the sale postponed until January 1, 1924. In the meanwhile, the commission will further scrutinize the law and endeavor to make its order accord. ingly. The commission's action would have forced tho roads to sell the tcket books, containing coup- pons for 2,500 miles of travel, at $72, or 20 per cent below prevailing rates, The railroads took the order to court, contending that compliance with It would entail serious curtail. ment of revenues, A motor speedway between Yoko. hama and Tokyo ts promised by the ond of 1925, Motor cars may be used to carry mail. The Greek government will found agricultural colonies tn Macedonia the older of the orphan refugees, GET FACTS ON Wage Seales Lous, | on; in the Pittsburg district | vestment ISDAY, APRIL 25, 1928. DURANT BANK Details of New Enterprise Received in Seattle Wired reports of the new national bank to be established by W. C. Durant have been put into more de- tailed form by information received at Durant’s Seattle headquarters Tuesday, Details of the new instl |tution and the manner in which it |ie to be handled were sent from New York. It ts proposed to permit the pur chare of only one share, at $150 per share, by an individual. Only Durant “partners,” share- holders tn the various Durant ep- terprises, may subscribe, CAN BUY STOCK ON | SMALL PAYMENTS that «| still under contract have been grant-| However, the Durant plan of tm savings, which permite email initial payments, with subse installments, will be in force on this issue as it as beon on all securities offered thru the Durant corporation. In commenting on this newest | Durant enterprise, Harry W. Strug- nell, district manager of the finan- |cial department of the Durant cor | poration, said: “Durant intends to make this one of the largest banks in the United | States, owned solely by the many stockholders in Durant enterprises. | “There will be 300,000 shares, or approximately one share for each |individual who ts a stockholder in some of the Durant manufacturing plants at the time of the issuance of the bank shares. “The price of these shares will be to pick and shovel men tn construc- | $150, and there will be no selling costs deducted from this sum, the lentire receipt of $150 per hare be- ing turned over to the bank intact, |The Durant corporation will absorb any expenses necessary in placing |the details of tho bank before the | mmany partners, “The issue will be strictly Nmited to one share to a subscriber. Each | subscriber will be checked up, to see that there is only one share in his name, #0 as to eliminate the porsi- bility of any individual getting more than one share, | OFFICERS SERVE jen tncroase from 98 cents an hour to| paid skitied mechanics, while com- | WITHOUT PAY “Durant and other officials will serve as officers and directors in this bank, it being stipulated, how- ever, that these services are ren- dered gratis, no remuneration what soever belng made to them in any |form. The diretcorate, composed of |men prominent in banking, manu- | facturing, commerce and education, | will be the largest of any national bank in the United States. “It ts planned to open the first unit of this bank in New York city, at a later date extending branches of the bank thruout the country, one |of which will, without doubt, be lo- cated in Oakland, Cal. A Seattle bank, while present plans have not proceeded #0 far, would be in the natural line of future development. “On the Pacific Coast alone, about $40,000 a day is being paid to Durant corporations for purchases of stock on the partial payment plan. In the country as a whole, the daily re- ceipts would be about $200,000. This has nothing to do with money re- celved from sales of automobiles, which add another large sum to daily receipts in Durant companies. So it can be seen that the’ bank is not an {llogical development from Durant enterprises.” RESERVE RATIO SHOWS DECLINE All Banks Report Increase in Discounted Paper Aggregate increases of $20,800,000 in discounted bills and of $3,000,000 in acceptances purchased in open market, as against a nominal decline in United States security holdings, are sown in the Federal Reserve board's weekly consolidated bank statement issued as at the close of business on April 18, 1923. Increased holdings of discounted paper are reported by all Federal Reserve banks, except those at New York, Philadelphia and Cleveland, Deposit liabilities show an increase for the week of $48,900,000, while Federal Reserve note circulation de- creased $10,800,000. Cash reserves fell off $5,900,000 and the reserve ratio declined from 76.3 to 75.5 per cent. Shifting of gold thru the settle. ment fund accounts for the Increase of $21,100,000 In the gold reserves of the New York bank, Philadelphia reports an increase of $3,500,000 and Minneapolis a nominal increase, The largest decrease in gold reserves for the week, amounting to $10,100,000, is shown for the Cleveland bank. Total gold reserves show a decline of $3,100,000 for the week. Holdings of paper secured by gov. ernment obligations Increased during the week from $327,400,000 to $334.- 600,000. Of the total held on April 18, $182,300,000, or 54.5 per cent, were secured by United States bond: $3,200,000, or 1 per cent, by Victory notes; $13,100,000, or 45.5 per cent, by treasury notes, and about $10,000, 000, or 8 per cent by treasury certif- cates, compared with $184,200,000, $2,700,000, $134,900,000 and $5,600,000 reported the week before, Tho total of $643,000,000 of dis. counted bills held on April 18 includ. ed $21,800,000 of agricultural paper maturing between 91 days and six months, and $431,000 of like paper maturing between six and nine months. San - Francisco reports» $237,000 of nine-month paper; st, Louis, $121,000, while seven other re- serve banks report a total of $73,000. of such paper,