The Seattle Star Newspaper, May 3, 1923, Page 12

* PAGE 12 THE SEATTLE STAR THURSDAY, MAY 3, 1923 | SEATTLE BUSINESS—Finance, Produce, Shipping, Real MAY INCREASE New York Stock Market tt g a NEW YO 4 Step to Prevent Inflation via a Is Being Considered BY LAWRENCE MARTIN WASHINGTON, May 3.—Tho gor ment is going to put the brakos | * Prosperity to avold being wrecked | Car R the rocks of inflation. }} 24, off debaker, +: Lin 33%, « Administration officials want to} Dee ietirak shes Ueiten buy De eta ticles Ba out the business boom over 7924 campaign period. They have | mM counsel On means to prevent Ings moving too fast, for they fw from experience that the eco. © cycle inevitably swings around @ slump following a boom period. Estate, Building —_—_——_——_ Church Buildings ) LOCAL MILLS CATCHING UP Lumber Production Running Above Normal { Among the New “SEATTLE FIRM | GETS NUTMEGS cen been regarded aa belonging to } ‘Thirty-four per cent of . the Northwest js found in the award ‘ An increase in the federal reserve IR : : . Y ¢ United States interior depart At rate would be one way Of) GycaGo. May 2 —< \ ‘ ment to the Crescent Manufacturing owing up and preventing inflation. | closed irregular company of this city of the “This was the means employed by the | Hoard Trade tod pcr Reed on * | of supplying nutmess for t board to bring about deflation after | Market was Rervo ce bureau, according t War, The new chairman of the | fig Si ry the Crescent comp: D. F. Crissinger, has been ad- | C, Murray S| “Nutinegs are grown in the Randa Vited to increase the rate in the in %| islands, in the Dutch Kast Indies, of curbing the headlong rush | wald Curry, “The award has hpreto oduction for r 19 per cent 4 ness was 12 per cent b New business for ¢ tumounted to 1,892 cars Thirty-fi |iumber shipments mo This amounted to 39,686,175 fe which 30,848,526 feet moved wise and intercoastal, and 8,826,649 feet overseas. Rail shipments to 2,243 cares. Local auto totaled 5,7 21 Unfilled Tho weekly bulletin of construc: bids May 7, improvement permanent | totay 157 1922, and be completed |Uon work tmsued by Coral B, White, | highway No. 49, | ready for occupancy about|™anager of the National Surety; County commissioners, ust 1. The total cost of the en-|Company, Wednesd shows the! bids, 10 a. m., May 21, construction structure, including furniture | following construction work planned | Redondo Beach bulkhead. will approximate $290,-/4nd bids called for C,H Purcell, Gistrit: snginier, nice amedation ti : | STRERT | Portland, Ore,, bids 10 a, m. May 15,| 1,633,445,288 feet; new bui a Randle Yakima national forest proj-| 940,116,930 feet, and shipments pubic | eer 872,490,279 feet m. May| C. H. Purcell, district engineer, 63rd ave. | Portland, Ore., bids 10 a. m, May 16, | nag | Devil's Lake-Silitz national ‘orest | Issue Ultimatum | road project . . | C. H. Purcell, district engineer, to Harriman Line city |Portiand, Ove., bids 10 a.m. May 15.1 wagHinaTON, 2.—The May | Glacier-Excelsior nection, Mr. Baker. | shipping board today issued an ulti- Shukean highway |matum to the Harriman steamship | BUILDING é \ interests operating intercoastal lines CONSTRUCTION , [between the Pacific coast and William Tate, clerk, Union high! Hoya that they must conte into the Intercoastal agreement. school, Tenino, bids 3 p. m, May 19,! construction high eghool building, Tie Dateetenass Ietenoeat aa | fused to renew the agreement, which R. R. Bartlett, architect, Astoria, 01 2p. ay 5. tts road revision. | coats tian m. May 5, erection | esoires in June. The board has Oxley, district engineer, | eLEROTRICAL | notified the Harriman line that un- ‘ less they enter the agreement al- |ready accepted by 14 other lines Lewiston, Idaho, bids 2 p. m., May > MEN’ 12, grading 11 22-100 miles, Federal -™ ogy ibis Ald project No, 68 |works, Seattle, bids 10 a.m. May 11 |the powers conferred on the board C. H, Purcell, district engineer, | switch board and busbar equipment, | DY the shipping act will be invoked. Portland, Ore. bids 10 a. m, May wire, cable and cable terminals, || These include partial “control of 15, Crater Lake No, 3, national] jp’ y, whippte, city auditor, Rose |Mites and possible establishment of forest project burg. Ore., bids § p, m. May 7, orna-| Parallel lines by the shipping board. | County commissioners, Everett,|mental lighting «ystem | A Senate: | Der Er | Exports of Cotton | Alaska Run Gets . i Mane Menace = . Decrease in March! New Modern Ship] artur 1. wtisworth, tor the past WASHINGTON, May 3.—Exports| In line with its policy of replac-|seven years associated with the ‘E too |of raw cotton decreased nearly 150,-|ing small vessels on the Alaska|H. Hamlin company, has severed 000 bales during March, 1923, as|/run with more modern ships, the|his connections with that onganiza- culations aa to how mush winter | compared with March, last year, the |Alaska Steamship company has pur-|tion and joined the firm of G. P. wheat will be produced this year. /department of commerce announced | chased the steel screw steamer Lake|Halferty & Co. brokers in North- Winter wheat production this year, | today, Gebhart from the shipping bourd,| west food products, taking the of- an forecatsed by department of agri. | Exports of cotton for March, 1923,/to be put on the Seattle-Alaska|fice of secretary-treasurer and as | culture officials, showed up only 75. 2) amounted to 318,210 bales, yalued at | run. suming the duties of manager. ber cent of normal on April J, as | $48,486,056, while exports last year! ‘The steamer was built in Chicago| Ellsworth has had an experience compared with 184 per cent a year) wero 461,484 bales, valued at $43,-/in 1919, and is registered at 2,810]of 13 years in the salmon brokerage ago and $4.1 per cont for the 10-year | 279,479, gross tons, It is now undergoing | business, having been with Kelley- average. # general overhauling in San Fran-|Clarke company prior to joining “In some sections crop conditions . cisco prior to its di é are much more promuing and it} Shell Oil Company is avery Nore. © | Whe 2B. /t Hionatta. company 6 ay president of the Pacific Canned Fish looks now as tho farmors would have | 2. @ fairly satisfactory year. It in, Reports Big Year Montana Bank H prieyes meget yin dee! however, much too early to speak} SAN FRANCISCO, May 3.—The as nent in the American Legion and with any assurance as to harvest! Sheli-Union Oil corporation closed Closed Its Doors prospects, for experience shown that | 1922 with a net profit of $9.5: rosa | HELENA, Mont. May 3.—Th ta, ot the April figures are often a poor|according to the annual report Of! neaing Corporation of Montons POULIEEY AND icmATS Index to conditions which will be|the company, Four and threequar|cissea ity doors yestrdag ne Pad by Wotheeate te ,, [encountered at harvest." |tera of m million dollars Was deduct: SON nad deneaitn of thon yon oes — te Shippers eee Jed from the profits for dividends, | oources of mpprocinuinn rs aa | Miroiters—Leghores, per i. OUR TRADE WITH Bn COANE MEY OR, SUIS PEN Taig Aes mua peated point hate to the amount of about $120,000 were on deposit. ne time ov nm the p crop st al production of 654,48 kly weather annual er cent ¢ The Fourth Church of Christ, Scientist entist, at Bighth ave, and Seneca st., 2 | building development of Seattle made e a § or U 8 by religious bodies, It was built in units, the first unit being built in 1916, The nd unit was started | dealers team deliveries and feet domestic cargo 109,430 feet. Unt port orders, 86,848,242 feet. rail trade orders, 8, r In the first 17 weeks production of West Co Te orders led ex Unfilled undertone Beattie of the year ast Lumbe © exterior of the church "is a terra cotta. The interior| ©. the lower floor or Bun middle or entrance |11, 12th ave, 8. and|S., sewer, City clerk, concrete, bids May 14, board of bids 10 4 paving Ht orean will Conals ‘ Bee dic eSB in A. par crate brown dn ire. bunches me. . . day school room, floor, entering from Eighth ave., the main floor or auditorium, the en: | tire auditorium seating approximate. | street paving. ly 1,250 people | Mra, Freeman Williams, ‘The interior finish of the foyer and|clerk, Sumner, bids 5 p. : auditorium will be enamel on fir, and |44, paving, L. L D. No. mahogany. The seating will bo p I Stearns, city 4 clerk, Bure of birch, stained dark brown mahog:|lington, bids May 7, street paving. | Keystone TH | Loew The | Stack Maxwe! Motors A [OE Dusiness, The rate now is 4% per} fore usually go large ¥ ‘cent with a few exceptions. deg ghey Med be per rT) + | aplee It in an indication that President Irving Fisher, of Yale, | untry. Corn orthwestern firms can compete suc © Feevgnized economic expert, | ee Ss Ny Vep Aaght yh oe fully with those of the Bast those favoring this cour progresn, er ee the rediscount ra Corn held comparatively L l M k Feserve banks should be put eg ee oca ar} ets the regular “market rate” and | sympathy with cone VEGETABLES there. | Provisions met a ‘The situation today affords the re Season De | board whatever excuse it might . o 1 2 ire d for increasing the rate. Up to| Chicago Board ou We oe | 3 rb in a short time ago the member) |_| Wed Cuban Amer. Sugar ES were able, out of their own | y,) eee tee Dupont r4 ees, to take care of the de-|Juiy H | Eles, Mtoraire ‘atiery 49 for capital, which havo been | #9. | Mestmen weask, Ipereasing amazingly since the busl-| y.° Famous Players ness revi set in. But now the jJuiy 7 are ginning to call on the | Spt tr FS reserve board for help. This \,.°"* tise. fa @ is Because the member banks have | july. ‘1% | polateres-—Local white, tan. 16 | jo rr out their money, of which | Sept . me ee S| Yakima Gems, tuer, arade had huge sums accumulated | ,,/ar¢ ‘ ik ce , the deflation period when | suty yy Were calling loans and realizing Sep! the obiigations of their debtors. | ../\'"* with an increasing demand for | 5 CONSTRUCTION County comminsioners, Seattie, bids 10 a. m, May 28, construction pe organ, costing approxi mately $16,000, | George Foote Dunham waa t pon rohitect, and Nell McDonald was YEBEG | tne contractor : Pe ue = the board, some high offi- als of the government said, could facrease the loan rate. FRUITS Frices Paid Wholesale Dealers Montgome: Northern Pacific ter ® Cocoanut Per doe $1 | Dates—Drows t4-phg. box board of increase, — $3,655,3 Four increase, $15,250,633. pment will withdraw $6,350,-| 7 from, New York Federal Reserve ‘Thursday. | Westinghouse Electric has signed 000 contract for electrifica- ‘of 213 miles of tracks of Vir. railway line. Roebuck April sales totaled p17! versus $14,713,732 a year | Mack Truck, quarter ended March after depreciation and estimated , Show earnings equal, after al- for first and second dividends, ‘a share on outstanding com- ‘Versus $244,198 in 1922 quarter. - Oil company of California, ended March 31, net profit, after charges, tax, depre- ‘and depletion, versus $2,750,- conor PROPHECIES “Altho crop prospects are not as good an they have been on some pre vious occasions,’ says the National City bank of Chicago," tt is early to adopt the Washington cal Jumbo budded, per Ib. Vaney badded. per t DAIRY PRODUCTS Prices Valid to Shippers ; gtanulated, 310.050 Battertar— Coftee—No. 7 Rio spot. 11WG@1i%e Ib.;| Berles— No, 4 Santos, 16% O15 ee Io. | First they. cee Cash Wheat CHICAGO, May 2-—No, 2 hard, 41 2%} * ee i v4 Foreign Securities Wednesday's Quotations Furnished by Logan & Bryan B10 Secwed Ave, Seattle ‘Stocks Ruvsstan S4%s, 1 Rus Clearings . Balances ..... . Tacoma 995,964.65 | 200,267.14 | i. March net operating income, $26,510; three months’ de Pacific, year ended De- |. Shows deficit of $1,413, after taxes and charges against Of $3,537,016, or $4.92 a B on outstanding preferred in r Hide & Leather, quarter March 31, shows deficit of | after . etc., versus | of $294,875 or $2.95 a share) on outstanding preferred preceding quarter and defi- quarter of 1922 of $23,221. ott Copper reports for 1922 ce of $804,178 after depletion, || -"{6 p.m. 12.4 tt tion, etc., equal to 2% cents $ compared with deficit of COMMUNITY HOTEL BONDS We are making an active market for these Hotel Bonds IF YOU WANT TO SELL IF YOU WANT TO BUY SEE US AMERICAN BOND CORPORATION 555 CENTRAL BUILDING Phone Elliott 1950 | French Se, Mi ieiush be, 3938. Ship News : Tides in Seattle 15BE peientita ton Fae, |THE ATLANTIC COAST plus account. Tonnage of cargo from Atlantic | porte to Seattle In 1922 amounted to 69,126 tons in 1921 and 161,782 in| or 8,000 carloads. The average | ber of vessel arrivals per month | S| from the Atlantic const was 20 a 3); month. Cargo consisted principally | " day of hardware and steel articles. preggers presbty eat Exports from Seattle to Atlantic| x a | ports increased from $0,846 to 135, beter ayer et sg oe ae at 238 tons, The average monthly ton. | ‘Meir candidacy, Mrs. ating |hage waa 11,000-tona ‘The principal |Fendered several vocal selections. jcargo was lumber, 61,000 tons; can: | sy Sa |ned salmon, 35,000 tons; shingles, months ago. 6,000 tons; flour, wool and canned fruit, about 3,000 tons each. Lumber New Issues shipments to the Atlantic coast from | " ¢ North t WwW, y’ the Pacific Northwest (Washington, Among thg day's new offerings is? y our | Oregon and British Columbia) trebled| an issue of $1,500,000 Lincoln Joint in one year, from 211,404,483 b. m.| Stock Land Bank 5 per cent bonds, feet in 1921 to 665,844,000 b. m. feet! offered by Halsey, Stuart & Co. Money a “Sh : h E . ” are in the Larnings Kiwanians Hosts to Council Candidates) , Siar ou company of California : ec! quarterly dividend of 50 Councilmanic candidates Sse the | cents a share, payable June 15, reo- Al of [CT !9 both New York and San Fran. cisco at close of business May 21, This is same as was declared two Bertin 4s ....... Hamburg (ee .. Leipuig Sa... ance tat § panese Ind 44. * United Kingdom 645, 193.01 BOONGM 60 a ei dense sessteness 8,17 ives fat, § to 10 the. 4 the. and up Tarkers--Fancy 4. p. 8-15 tha Live, fat, per Th. Roosters—Oid, live, per Mh 28; |quests of the Kiwanis club, - 15 ft. | 6:90 om, 1 Serond Low Tide 12:38 p.m. —2.3 ft. | 1:27 p.m. ie Choices, tight Tide At ft ye Heavy, fancy .. val oe S245 p. m., 12.2 ft. Fancy, light .. Medium, tight soseee ANG | Med., heavy, 156-200 Toa... (09@ POULTRY AND MEATS Prices Fuld Wholesale Deniers Ducks— Dressed, per Mb. . . | Mens—-Dressed, heavy Dreseed, Mant hive, heavy, 1 Live, light. T : Brotlers—1933, per Tb... Geese—Dressed, per th. Turkeys—Fancy, dressed Live, fancy, . Belgian Hares—Live, per tb, Dressed, per th, . Wednesday's Quotations Furnished by Logan & Bryan Ase a0 Second Ave, Semttle Barometer rising; clot east, 12 miles an hour, . F. Alexander, at 10 p. m.; two-maat freigh harrow white band, biack stack, at § p. m.; str Paul Luckenbach, | ante de | at 6 a m. Ougside, bound fn, four-maat | 22° on j following opportunities in the | Norwesian sehr. | Swedish krona trade field have been re- Eyed xf eoheon to the foreign trade bureau of a eratien Seattle Chamber of Commerce: Cape Town, South Africa, manufacturers’ agent wants agency for Pacific North- west manufacturers and food Arrivals and Departures Greek drachnia ARRIVED—May 2—-tr Admiral Rod- see man from Port Angeles, at 6:20 a. m.; San Francisco Produce | cows country, drissed, th! Wednesday's Quotations Megs—Vancy, block ras, 446 ib; prime firsts, | Veul—-Fancy, laht « 43% It; firsts, 430 Ib, Heavy, coarse * Egge—Extras, 20%¢ a Medium, dressed . 4 39% doz; extra pullets, LIVE STOCK undersized pullets, 220 doz. tat cheese—Califor fancy, Seb. loge eehrnete oj in 19: William R. Compton & Co, and Harris ‘Trust and Savings Bank, at 101% and Interest, to yield over 4.60 per cent to optional maturity, May 1, 1928, and 5 per cont there: after to maturity, May 1, 1943, ‘These bonds are obligations of the Lincoln Joint Stock Land/Bank, of Lincoln, Neb., which operates in lowa and Nebraska, and are secured WAGES AND f} PRICES RISK “Employment, wages and prices continue to increase and there is no signal in the offing that the ad. vances are destined to halt. Of prices it can be said that both pro- ducer and wholesaler so far appe extra firsts, India, firm wants to 27%o doz; —Manufacturer of buttons, snap fasteners, clasps, hooks and eyes, hair pins, collar buttons in Aus- tria, wants names of Seattle : ‘ buyers. —Porto Rico cigar manufac- turer wants names of dealers brushes, coloring Matters, desires Seattle con- nections. ificial flowers and orna- mental feathers manufac. tured in Austria. Seattle 7 ctions wanted. importer in Japan reliable Seattle con- livid beep bat California | to ling vessel, not t 86 feet long. hts geen for sale by firm in Canton, China. Gert horseradish manu- wants Seattle firm “will handle. dealer in Guatemala for sale cedar, chichipate a m. May 1—Str J. O. Kirkpatrick for Ban Pedro via Tacoma, at 2:30 p, m. str Rainier for Tacoma, at 12:16 p. rm. str Ban Juan for Tacoma via Bristol Bay, at 2p. m.; str H. F. Alexander for Han Pedro via Ban Francisco, at 4 p. m.; str Astronomer for London Vfa porta, at Portland Produce Wednesday's Quotations Batter—37 @40e ib, 120 | Egge—24@ 260 d | western, southbound, D. m.; ate Lancaster for rom, at 1:30 | Cheese—26@ 270 1b. p. mi U.S. L. H. T. Heather for sound | Hene—22@ 2460 Ib. trip, at 11a. m. | eee Alaska Veuus Denver | Live Stock Ketchikan-—May i—Salled, tr North | cui, avcimen Ma: i cows and heif- $ and feeders, 36.5068: calven, $4.50@13.50, Hogs—Receipts, 1,700, Market Se to 100 lower, Top, $7.45; bulk, $7.50@7.65, Bheep—Receipts, 3,370. | Market 150 higher, Lambs, $13.50@14.65; ewes, $6.50@9; feeders, $12.60@14. one CUBAN SUGAIE NEW YORK, May 2.—Cuban row sugar sold in the street for the first time this week and opened at 6Ko, off te. Petersburg—May i southbound, at 1p. Vessels in Port, at Seattle K ir Yogen a Barge Henry Villar. Great Northern Terminal—Str Tokiwa Maru. American Can Co.'s Terminal—#ehr Azalea. Bell Street Terminal—U. 8. #, Gold star, str Commercial Spiri Grand Trunk Pacific Terminal—ar Ad- Meeti 7} miral . Pler 11-B—Btr Owego, motorship Apex. ecungs Pier 5—8tr Wm. Campion. Play 2 —Htr Katehinan, Redondo, str} ‘The monthly business meeting of eda. Pier D—8tr Admiral Rodman. 5 Beattle Shipbuilding & Dryduck Co—|C, Smith Building restaurant Thurs- are those which sold only at infre- als. They are seldom their market value ts . for the public at large to ain. are brokers who alty of dealing in in-| in general, or who ‘regard to cortain Poworship Boxer, day at 6:30 p.m, Final action will Pasitie Coast Coal, Bunkers—tehr 0. 8.156 "taken in connection. with the Holmes. Const Engineering Worke—Btr | Gyro “Tell your troubles to the ballot He, Us. art Fs Bparher, box” campaign and proposed conati- lds pass fierce Behe Minaant™ | tutional changes will be voted upon. King & Winge Docks—Motorship Kuby, motorship An inal—U, 8. C, #. Dell-} Lower Austria's board of health the Gyro club will be held at the L, |W Prime steors . Medium to good Prime oo... Bmooth heavy Rough heavy « Pige sees st Prime lambs Cull jambs Yoartt Wet Ewes . FLOUR AD City Delivery, Wholesale, Per Ton Barley-—Whole feed, 100's f} Rolled and ground, 80's-10: Corn—Whole, yaliow, 120'n Cracked and feed meal, 10 Oats—Whole, feed, 10 All-Grain Chop—80's 00's 0" cence Maal 100°, A aaa Feed100' Wheat-—Mixed fend, 0 Meal cess Told Drydocks—Btr Went Nilus, atr West | Wants to prevent Sunday motoring | Hay Inon, att Bagadahor, 7 Puget Bound Bridge & Dredging Coote Patterson, Harbor Island Dock & Warehoune (Fish- er's)—Htr Pomon: Ames ‘Terminal Mal Retaaton's MIL Baty Mekawall. Neffernan's pe Mot ip Oregon, tr Banta Annie, wie Mal Winslow Marine Rallwi on bark Belfast, barge Coquitiam i Nd Bar Nos, 1, % 3. bktn James ou grounds that “the dust raised by the cars is harmful to the lungs of losis.’ Libby nc A German film company has be Co.—Motorship gun work on u ble picture, whieh will tell the story of Tutankhamen, It iu to be catied “The Pharaoh's Revenge, ry the children and causes tuberou: |Fish Me “Red Monday" is said to be ob- served every week in Yucatan, So- clalists gather together to hear eee and witness public wed. to pass on the increases to the re. tailer and the consumer only with reluctance, Retailers are doing their |full part in holding down prices by | welling, in many cases, below present by either first mortgages on farm lands or United States government bonds or certificates of indebtedness deposited as collateral. The lability of the bank's shareholders is double the amount of their stock, DON’T MISS IT! Wenatchee Apple Blossom Festival MAY 4th and 5th “The Valley Blooms Amid Revelry” PARADES, PAGEANTS, ENTERTAINMEN' SPECIAL EXCURSION RATES FARE AND ONE-HALF FROM ALL POINTS $§:90 From Seattle Tickets on Sale MAY 34.5 Limit, May 8 JOIN THE SEATTLE CHAMBER OF COMMERCE EXCURSION, leaving 9 P. M. Friday Night For tickets and reservations Call at or telephone replacement values."’ , CITY TICKET OFFICE 1108 Fourth Avenue Main 6601 KING STREET STATION. So, 3rd and King St, Main 6601 Public utilities securities are high in the favor of investors, Statistics prove that during the last 30 years their earnings have sure, and on the whole more than those of almost any other class of securities. They are regarded by such authorities as Babson pretty nearly on a par with national banks, Every customer now has an opportunity to become a partner in the successful, well- managed Puget Sound Power & Light Com- pany, serving directly and indirectly two- thirds of a million people in Washington and Oregon. Always have its earnings been am- ple to meet dividend requirements. Right now you can buy the company's Preferred Stock to net better than 7% on the invest- ment. Convert your idle money into these dividend-bearing securities that yield splendid returns and are readily salable should you want quick funds, been steady and | Pay cash or one-tenth down under our new BN payment plan, Let us give you full tails, PUGET SOUND POWER & Seventh and Olive BALLARD: 2012 VERNON PLACE Also Renton, Kirkland, Issaquah, Enumclaw Agents for Puget Sound Power & Light Securities Co.