The Seattle Star Newspaper, May 30, 1923, Page 6

TO CONSTRUCT LUMBER MILL... New Plant Will Manufacture | Hardwood in Seattle Const and dry Beasonine mene but am & Bal 10 an a @ay by 5 arrange! with of ar mill mar Bea and W, Aessors, will erect the mil Biles a large crew to opera’ ding site is a water! IE 25,000 square feet, w Dihe leased by the po Tor a yearly rental of & . Into effect Monday ' mbers of the port. ullding operations will start Ely after that date, Hardwood logs will bo shi To Seattle and will be cut into lum er at the new plant. Dry for Beasoning will be constructed on the Mite, and the lumber will be shipped} iGut as a finished product and w it. The nd ped in| Financial Flashes From James Macfarlane & Co. $11 Second Ave. ‘Twenty industrials 97.23, off .23; 20 Smetive rails $3.16, up EGhicago Northwestern April total | ting revenues were $12. sus $10,666,609 same month last © Chicago, Burlington & Quincy de- d regular semi-annual dividend | 5 per cent, payable June 25, record | 29. 8 of Coca Cola placed stock ‘@ $7 a share basis. | Canadian Pacific net after ex- for April $1,960,879, increase if $402,106; for four months, $5,136,- 182; Increase, $23,877. Chicago & Northwestern April to-| ‘operating revenues were $12,621,- — $10,666,609 same sacred Doeeratins officials of Union Pacific | Se Prospects are bright for rec- business this year. ‘Competition between one of the big i and several of the medium- Producers has brought the cop- metal price to 14 cents a pound. on has placed with Baldwin. | or of mint, announces pur-| ‘of 688,555 ounces silver. There @ins approximately 2,000,000 to be purchased under Pitt- Ing to government returns, t exports for first three months ety pounds versus 186,- in 1922. pearaustte earnings April net Increased. $359,441. Western increased ic reports for 1922 bal- $28,357,983 after interest and d dividend, equal to $12.75 a on common versus $26,081,112, 7% in 1921. ff for April net income for ‘Island after interest, rents, etc., versus deficit of $332,222 in Pacific April net oper- Income $905,007 versus $334,- in 19: Burlington $2,426,005 8 $1,198,999. Eastern cables to the depart- of commerce reveal renewed ac- in the Shanghai district of a better tendency in Japan, continued favorable conditions in Shanghai cotton piece-goods et is brisk, and business there ix in steel, lumber and wood oil. tobacco, and tea crops of are estimated to be 50 per cont than last year. The silver sit- is discounted. order for 30 2 Fi has been tight In Japan, but business improvement 4s ex- | 7 EW PHO! gE 4 4 LINES NORTH a in August The two new ec attle to Be ut aA me mile wire G40 cross-a placed. and GRAIN MAR 8 of copper rms KET DROPS SHARPLY CHICAGO, May dation In grains, May delivery D sharply on ie today, Wh not | there was Nght with r the first time in at sold be uly f the mar nearly 3 Trade was ¢ and the market was the Influence of whe day. Cash demand was Oats were inf! news, which reported t generally favorable in West, with heavy acreag: Provisions slumped. ve on t Chicago Board of Trade |* Monday's Quotat Wheat— Open High tie Lith Luh 21d did ny rry grain over the hol ay whe 5 elling ord were 1 ot car day, BF ly scattered months. at th at was « ning moderate Ny und thruout the by dition South- May crop e. one low tai p10 Foreign Exchange NEW YORK, May at 0 to the dollar, cee rhgiry i x. 464% sneati maths | Portland Produce "s Quotations ‘Tuesday Batter—39 4 @ 440 Ib. Hens—20@ 220 Ib. . N. Y. Sugar and Coffee Tursday’s Sugar—law firm, c granulated, $7.75@9.0, No. 7 Rio spot, 12 No, 4 Santos, iigeite Ib. Quotat! $428; fons refined, firm; KOU Ke fe. San Francisco Produce ‘Tresday's Butter—rxtras, (76 46e Ib. Egye—Extras, 220 don. doz.; extra pullets, sized pullets, 220 dos. 1b; prime firsts, xtra firsts, 32% 4c doz; under- Cheese—California flats, fancy, 32¢ Ib. . Market steady, 5 bulk, $6 Market 25@350 ‘op, $7.20; 806, lower. Spring lambs, d as a result of a normal tea! N, and an {ncreased crop of silk Austr lacks rain, but otherwise We indications are encouraging and financial position is remarkably from Europe show an un- trade balance in Sweden, 8 March imports were twice the but domestic conditions are ing, and unemployment has in Belgium, especially urgical, has been hampered by ral railway, telephone, tele- ‘ph and postal strike, ions in Holland are prac- unchanged, but the con- d adverse influence of the Euro- n situation has been somewhat lieved by favorable developments in Dutch Last Indies, in Spain fs dull, the only showing signs of activity being and metallurgical. Spanish crop pects are good. (Under “Business Changes, Russian 5%, 1921 Russian 514s, 192! Russian S335. 191 French 5s, 1931 French 4s, French 5s, Belgium Restor. 6x Belgium Premium . German W, L. 6s Berlin 4s .. Pamburg 4%s Leipzig bn o 48 Japanese lst 4 Japanese 2nd 4 United Kingdom, United Kingdom, 1 Italian Cons, 5 OT 13.500 94.05 94.20 380 99.22 Seattle Stocks Bank Stocks— Amarican Savings Bank, Hank of California. Canadian Bank of Com Dexter Horton National. Firat National. Mare National Motropollian. Star publishes, without rge, changes of location by hed business houses. It appreciate information of changes, addressed to the Business Editor.) ah) we , Ficon Central Insurance com. as rented 305-6 Douglas build. | 4 and ‘will move in June 1, : see D. FE. McDuffee has taken G, Donald's place aeuner te. bufiding. A. Sales company, 722 NET PRICK net price of anything ‘a its Price; the price after all din- i# or other allowances have been , In commorcial usage, it Is as manager for |“ ational ional Union National Industrial Btocke— Garnation Mie Prod. Centennial Goodyear ber (Cal, Chas. HL Lilly. New World Lit Northern Life. Ow! Drug pta Pacific Alaskan Navigation, Pacific Car & Foundry... Pacific Conny Macult, Pacific Gas & Electric, Pac, Tol, & Tel, pid, Pioneer Mills (augar)... Puget Sd, Power, 6% Bea. Reld Brow, com... ; do pid, sperry | Flour, pfd, pfd 180 } uted.to express the lowest price iscount privileges hayo e<- sine well Furnished by H. M. Herrin & 117 Cherry St., a of i800 49.00 gts 24.60 74.09 4,00 10 00 BANKERS HOLD = We CONVENTION ».|Meeting at Victoria Draws Big Attendance professor O ty of Washington, N. Y. Stock Market ‘Tuesday's Quotations Furnished by Logan & Dryan B10 Second Ave, Seattle Brock Wen 2% is % Rapid Transit pper & Bie te & Superior ‘ Consolidated Corn Product Division Chemica Dome Mines......... re & Madson Western Bat u i) 41% Endicott 1 Erie. ... Fre do ind pid Fleischmann. Famous Players Federal malt. pfd.. General Electric Goodrich Rubber Gt. Nor. Ore. etfs Great Northern pfd.. 72 Gulf States Steel..... 94% General Asphalt. . General Tank. Houston Ot}. Hudson Motors. Hupp Motors Inspiration. ...... Intl, Harvester... lint!. Paper... THM) XK. C. Southern Kelly-@pringticia Kennecott... +} Keystone Tire. Lee Tire & Rubber Lehigh Valley... Loulavitte & Nashville ne Loew Theaters... Lima Locomotive Mackay Compante: Mack Truck. Maxwell Motors AS. do B. 0 16% | oy itores Middle Mtaten Oil, Mexican Seaboard do etts Missouri Pacific: National 1 eutt, Republlo Iron Replogte: Stee! . Sinclair Consolidated Southern Railway. do pid . 4 Stewart Warner..... Studebaker Corp. +--+ Standard Ol of Cal. . Texan & Pacific 2 Timken Bearings Hy ion Pacific U, §, Rubber...... U, 8. Smelting U, &, Steel Corp.....+ Utah Copper ssieresse United Drugs... ese Westinghouse Elec... 56% Total wtock nalew, 686,400. Total bond sales, $9,577,000, Hides and Wool Buying Esigey.J F. 0. B, Seattle Salt hides : “ ¥ ORY Bulls Groen hides Bulls, cscs Calfekins, green or salted: No, 1 up to 16 Ibe do No. Kip, are 1 Dry salt Horse hides, aceordiny Dry, each Woo! pelts, Fine, clean. Medium clean Conrne, heavy... Mohair, long, staple, Valley ‘wool Clean medium, Medium honvy Conrae, elenn Conrws, heavy Pelt Wheosy pelts, each... alted aheep ahoar, enon. Dry long hair goat slain, th, do short hair, exch 1.000 O5@ Trucks for hauling purposes can he purchased thru the trucks for twle columny in the want ade Results from Star want ads are very active, Use them, They cout a trifle, | Capons—Ltye,. tat, + | Cow Moae— da , "on t t thy mentar be succe able to ve is piv LIT TCE EI AND SELL YOURSELF TO YOURSELF FIRST L" 4 ma Local Markets ABL Prices rua Wholesale Dealer Artichokes 108. Asparsgur Beane—Ca Meets y eraded,.24,00@10 Nhubarb Rutadagas | Sptnach— w | Texas, orate Tomatore— Me Turnips—Ca tue, dou, bunches FRUITS Prices Paid Wholesale Dealers Apples— Yellow wtone De is Binck Twik Contaloupes Cherries Pre Nananas—ier 0 Cocoa ute — 1 Dates Pigs rape Fruit nega Le ois % | Honey | Lemome Per th Mixed Nuts Wat Cal, Jumbo budded. Fancy budded. DAIRY PRODUCTS Prices Tuld to Shi Duttertat— ed A grade, Seattle dott Kear M Pu ite — supply. FO. Bh eontensary . i) c DAIRY PRODUCTS Prices to Metall Dealers Better—local creamery, cubes. Local prints, wrapped e—Presh ranch, wait Mixed eoolre . aitete H AND MEATS Prices Paid br Jyeeneanl Dealers to 8 Broilers—Leghorne, per tb. Rocks and Reds, TD, ., per tb. Fancy. dp ve Hene—i% tbe. an Medium, Mive, med & vents above Gorse Live, fat, 9 t0 12 tbe | Helgian Hares—« Th ri ome Chotee, laht Heavy, fancy. | Veal— Fancy, lght Dressed, light . Live, heavy, Live. Haht, Brotlers—1923, pert Geese—Drewaed. per tb.” ariey, dreened th. » dressed, Fancy, block Veal—Fancy, light Heavy, coare , Medium, dresse LIVE Quotation: Cattion— Prime steers . | Medium to good Prime cows eg? helfer at Stockyards + 7.000 8. ‘ ; cop— Prime lamba Cuil lamba Yeartings 10.25410. 9.00@ 9. 1.00@ 7. Flour—Hiends loonis, 49's, bb, Blends, local, bales. Art, local, 49's, bbl Art local, bales Sugar—Cane, por owt Beet, por cwt HAY, GRAIN AND F Rolled and ¢ Corn—-Whole, yellow, racked and feed f Whole feed, 10 Milsdrawn che | Chick Feed—100'" .. | Chick Manh—100's, | Growing Mash—100 | Vee Mash Serateh Feed—10 | Wheat—Mixed food, 50's. [Cocoanut Meat ....... Granite Meat Seraps Cottonseed Meal , Lingeod Olt Meal : Altnita Meat jranulated .. ch Hardwood ., Vish Meal ie GribeLin Results from very active, a trifle Star want them es are very Star want nd t ducing. Phone your want ad NOW, The ! sails new liner ' Chinese Oral Contracts i Are Dying, Alaska at the Todd Drydock & Construction Co. pier in from Seattle on her maiden trip June 9. Says Fowler ‘Tr ade Commission Tells About Trade in Far East Bri dom\a: in aloy Commi nd Brit by pelago, Joun H his re a Ind! released of commerce gulld system, > powerful in venerable . has been atary ex 1 hew surroundings, and altho the guilds do not cover the same multiplicity of occupations 4§|24 In the mother country, they are #4 | hardly lems potent a force than in ‘* the birthplace of the system. Bank- abe jers’ guilds, merchants’ guilds, and Wleven beggars’ guilds, which have their genesis in old China, have 4 thelr counterpart among the Chi nied by these vol ates to thelr nee Brit Netherlands Malaya and ast Indies. the BY PRECE! Every act nese of the by sone antedates of fair ¢ of the de. rule which The principle the cardinal rigid. comp rom nrembers another Adheren the guild” lot the fundamentals of the life of the Chinese. It is not strictly a |matter of honesty by the rules of ithe “guild” but a matter of “face” land business economy. Trangreasion of any of the pri- mary obligations as subscribed to by members of a guild means loss of “face” and lone of “face” means loss of prestige, loss caste and ostracism by fellow craftamen. To lone “face” in to become a creature of abject disdain and suicide is com- mon among Chinese who have trans greased the rules of the game and gained the opprobrium of the people. ing one with © to is one |}ORAL CONTRACTS * ‘ , Tides in Seattle WEDNESDAY MAY 99 THURSDAY MAY Yirse Ten ‘Tide & m, 114 ft |" First Low Tide 1dt am, —t48 ft. | Second High ‘Tide \ +O Dm, 126 bid | First High Tide 1:40 0. m. 118 f. First Low Tide ft Tide 6:00 p.m, 128 ft Second Low Tide 118 pe my Gl fhe | Weather Roca Report 4M SLAM! naval tug, No. 6 jout, str Birmingh: Arrivals and Departures? ARRIVED—May 26—8tr La Ports! eat Grant from Mantia bop. om; ate Katrina from Mobile’ via ports m.; oma, at 3:10 p, m. atr Agwistar for fF Admiral ports, for Kobe nd Yokohama, at ntr ‘Toyooka. Mar vin Vancouver, B. C. op. Mm. . Ara Vessels Ketehtkan: y Fi meda, northbound, at 9 in, Jurieau-May str Admiral ns, northbound, 00 ate Ala- 5 Vessels in Port at Seattle Smith Cova Term! Maru, Pier 4 atr Bakersfield, etr Kong American Can Co.'s Term miral Rogers Bell Street Terminal—v. Heather, U, 8. C, G. Snohomish, Grand ‘Trunk Paciflo Terminal— miral Wateon. Plor 11-B—Str Owego. Pier &—Str Arizona Maru Pier 2—8tr Jefferson, str Pioy 1—-Str Katrina Luckenbach? Haglo No, 67 | Pier De-Str Admiral jcholson, Pler D—Htr H. F Aloxander, atr Admiral Rodinan, ate Adinirat Sobre U. 8, Shipping Board Moorings —Bte Anna | . B. Morse. Connsotieut Cooloha | Atiantlo Street Terminal—str Fulton, Albers Broa’ Milling Doek—Str North- Jand. Maat Waterway Dock & Warehouse Co— Str Kiyo Maru, | Todd Drydocks—Bte West Iron, | Nilus, ste Munnatres, ate U, | _ Deliwood, get Bou Patterson, Drummond Tnmbia | Meffernan's Drydock—Rark Gratia, Stimeon's Mill--Rarge Henry Villard, str Moyers 0 16 60 00 Street Torminal—Motorship tr Went 8 Oo. 8, \Pe Bridge & Dredging Co—Str Lighterage Co—S8tr Chal Rallway—Sohr dore, bark Helfant, Coquitian City, bktn Phytila Whalers Star Now. 1, % a Totey i Comyn. CLBARID Seattle Clearings .. Halunces .. | | Clearings Balances. 027,728.00 | ‘wooma | | | ‘Votal transactions, . 9,926,000.00 | e || ARE WANING | The word of mouth method of con- ||tract among the Chinese is slowly | jfalling into disrepute, the conduct of some of thw less scrupulous Oc- |/eidentals necessitating more formal | |methods, and Fowler reports that} jit is now uso the simpie parole contract meth- ody that formerly held sway, Fowler's book is the result of jthres years’ observation and study las trade comminyioner of the depart- ment of commerce to the Nether: lands East Indies, and British Mal- aya and {s replete with suggestions as to possible trade openings for American business mon in the archi- peliigo, and goes into exhaustive de- tail on industry, agriculture and trade in the regions under review. The book may be purchased from the superintendent of documents, government printing office, Wash- jington, D. C., or at the district of- | |fice of the department of commerce in Seattle. This is how the prow of the Leviathan, largest ship afloat, looks toa fish. Taken as the boat drydochked at Bos- ton after its trial trip. extremely dangerous to| Tacoma, She | Kast and ot t ther “It can't Todd Drydock & Construction Co. of ‘Tacoma 1 the senger Ii Hteamship ¢ promised to bulb Alaska for the in seven months. coast experts *o. has done were it con: enger of the Most 1 inont a well within the limit, Today at the Alaska is going a of stringent dock tests, preparatory to final inspec tlon and builders’ trial ‘inal in spection is scheduled for May The builders’ trial probably will be carly in J And the Alaska for Alaskan port cargo and all ber rooms occupied on June The fast time made in conetruct- ing the Alaska wus due to the-ex- ceptional efficiency of the Todd or- ganization and to favoruble weather conditions on Puget sound. The Alaska ts rated os a first. class ship thruout. She has ac- commodations for 235 first-class passengers, and every stateroom for her first trip already has been sold. Each stateroom is equipped with all modern comforts, even including hot jand cold running water. Twelve of the staterooms have shower baths. |There is a large observation an: {ball room on the top deck, All the | dec! ks are wide and spacious, making | them attractive to passengers. The Alaska ts 364 feet long over all, She has a mouldel beam of }49 feet and depth of 25 feet, six inches. She will draw 25 feet of water, Three thousand tons of freight will be carried ia her holds. The Alaska is the second ship |built for the Alaska Steamship Co, jby the Todd Co, The first vessel |was the Diesel powered freighter | Kennecott, which has been break jing timerunning records for ships j of her class ever since she was put in service over to her seven-month time the Todd dock thru nerios from a full state | ¥ sail pansen, ‘LUMBER HAS GOOD REPORT 'Production and Shipments Well Above Normal One hundred “and “thirty mills re porting to West Coast Lumbermen's jassociation for the week ending May 26th, manufactured 109,187,190 feet of lumber; sold 90,688,381 feet, and shipped 103,244,104 feet. Production for reporting mills was 23 per cent above normal. New business was 17 per cent below pro- |duction, Shipments were 13 per |cent above now business. | Thirty-six per cent of all new business taken during the week was for future water delivery. This amounted to $2,308,215 feet, of which 25,679,215 feet was for domes- tic cargo delivery, and 6,629,000 feet export, New business by rail amounted to 1,749 cars, Thirty-one per cent of the week's lumber shipments moved by water, This amounted to 31,413,938 feet, of which 26,897,043 feet moved const. wise and Intercoastal, and 6,016,895 feet overseas. Rail shipments total. ed 2,158 cars. Local auto and team dcliveries to- jtaled 6,090,166 feot. Unfilled domestic cargo orders totul 172,047,513 feet. Unfilled ex. port orders, 98,79! 1 feet. Unfilled rail trade orders, 7,811 cars. In the first 21 weeks of the year, production reported on West Coast Lumbernren's association has been 2,048,877,957 feet; new business: 210,034,671 feet, and shipments 281,864, LM feet. Steel ( Company Has Increased Capital DETROIT, Mich, May 30.—Capital stock In the Tucson Steel company was increased $1,500,000 to $8,000,000 at a meeting of representative. stock- holders in the company’s offices here late yesterday, Australia ts going to abandon ‘her commercial enterprises. One by one sho intends to dispose of her small. arms work, harness, clothing, eordite And lime factories and similar ven. tures, and concentrate on her rail way and other public utilities, ‘The government continues to operate the Commonwealth line of steamers, how. ever, biggost of all its ventures, Se aeatayiy ne when the! pas: | Alaska } will be turned | MAY 380, 1923 ESDAY TELL ABOUT “AMERICANUS” Ad Club Is Given Facts of Big Seattle Pageant Advertising club Tuesday It will be the greatest pagear and rettlers, a lar t the neh declared. more band t assembled for Jar n been equipment than has ever bee sembled for a theatrical production, Last year the W 1 equipme 5,000 Pi yfarer had an elec. ffick ulation; t ird I | present need is for m to enroll by the tho MEANY n and women ny of the | t the meeting. He outlined of the page which will | present the high lights in American tory trom V ngton's winter at Valley Forge to the end of the world “The object of the pageant,” said Meany, “is to inspire the American |people to hold fast to the two gre Janchors of Faith and Patriotism, in these days of shifting tides of human life and emc It will show the spirit of America leading the way to freedom and to peace, ending with a gigantic tacle inspiring that spirit of patriotism where the love of is like unto the lové of ‘Amer | speake | the stor jon. sp | country God.” NEW OFFICERS |ARE NOMINATED Nominations for the election to be held next week were presented at Tuesday's meeting. Lioyd Spencer Was nominated for the presidency. [Other nominees were Tom Jones Parry, first vice president; Pauline Krenz, second vice president; Maur- ice Whittingham, treasurer; Hazel E. Britton, secretary; E. Morgan, ‘orge W. Hughson, C. A. Griffith, &. Fisher, A Izzard, Henry | Jacobsen, R. J. Wright, Ray E. Bige- low, R. A. Milne and Lioyd Owen, di- | rectors GOLD EXPORTS NOT ALARMING Will Not Affect Credits or Prices, Says Moody Moody's Weekly Review of Finan- cial Conditions in its current issue says in part: “Strength in bond prices in spite of heavy liquidation in stocks may be taken to mean both that the selling of bonds is pretty complete for the | Present, and that the selfing in stocks j's generally for the purpose of get~ ting rid of unstable investments |rather than raising funds, “The trend toward exportation of | American capital appears to be the most striking tendency of the tie» « Foreign loans to the amount of $200,- 000,000 to $300,000,000 may soon ve consummated as a result of negotla- tions already under wi Possibly this is the commencement of @ great outflow of capital such as the United Kingdom experienced under partly similar conditions for a century fol- |lowing the Napoleonic wars. “Liquidation in stocks during these times of very active trade ceases to appear abnormal when one investi- gates. Prosperity for the corpora- tion and investor consists in the prof- itableness of trade rather than its mere volume or bigness. Hence tho first great waves of stock market liquidation usually occur soon after high costs begin to cut into profits, | but long before the total volume or quantity of trade diminishes much. Now, therefore, we are merely ex- periencing the normal. “Gold exports are indicated tor the hear future in many ways, but no larm should be felt. ‘They are un- likely to be large enough to disturb either bank credits or price levels.” Money Situation in Japan Better The month of April was character- ized by a general tightness in the money market and higher bank rates, owing to the unusually large demand for funds to finance shipments of raw cotton and the payment for gov- ernment bonds held abroad. As a result of this scarcity of money abroad, Japanese bankers were sell- ing foreign loan bonds on the New York market in increasing numbers. The month ciosed, however, says Commercial Attache J. F. Abbott in a cable to the department of commerce, with a much more optimistic feeling, due to the certainty of a normal tea crop and predictions that the spring cotton crop will be above that of last year, $ New Issues Dillon, Read & Co. are offering a Hew $3,500,000 issue of Kansas Gas & Electric Co. first mortgage fund 6 per cent gold bonds, series “A.” The bonds are due March 1, 1952, are ree deemable at intervals after Mareh 1, 1927, and are issued in aah ers of $600 and $1,000, The bonds are offered at 95% ‘and aecrued interest, to net about 6,85 per cent, Cost Accountants Elect Officers William H, Lybrand, of New York, was the principal speaker at. the meoting Tuesday night of the Wash. ington State chapter of the National Association of Cost Accountants. James P. Robertson was elected president of the chapter for the en suing year, Other officers elected were George I, Harding, vice presi: dent; John Black, segretary-treas: urer; A. C, Gfoller, Jack Browne and B, G. Shorrock, directors,