The Seattle Star Newspaper, November 2, 1923, Page 22

CARDS TO TELL \Copper Industry Is Due (New York Stock Market Takes 50 Year Lease on {ROADS DECLINE * OF N.W. GOODS to Prosper, Says Babson Chamber Committee Plans| Window Display Campaign | Plans for assisting retail stores to @eature Northwest products tn win Mow displays were completed at the Meeting of tho Northwest Product committee of the Chamber of ¢ merce Thursday noon in the Seattle hotel banquet room K. Leos the Northern Lifo Insurance ichairman of the subcommittee in leharge of the project, displayed sam ‘ples of window canis to be used tn Connection with displays of goods Manufactured in the Northwest. * At the top the cards bear, tn large letters, the words, “This Store Be Mieves fn Selling Northwest Prod Mets." Beneath is a sketch showing Mactories in operation, followed by ithe words, “Because in doing sa fac Htorles are kept busy, jobs will be ‘plentiful, popula will increase, “taxes will be reduced." The cards Owill be sold to manuf To be distributed by them to t Tetail customers t) t the Pa Northwes' BE. Rex Smith of the Crescent Man- Mfacturing Co, commenting on the Program of education the committee m hat ds planning, stated that it was ono/| That deserved the hearty co-operation of all classes and interests. “The use of home products fs a Practice that ought to be preached by every community tn the country,” | ‘he said, “on account of its baste (eonomic soundness. By stimulating @he purchase of such goods as are Manvfactured within a short radius, only is the community itself @ullt up, but general production 1s (profited by the elimination of a lot 10f waste in the form of the cost of |™ _— transportation, as well as many items of selling costs. * “If every community was taught Bive preference to the goods that made close to home, It would ‘amount to an enormous saving that Would, in the end, not only reduce and prices, but would bulld up Sound prosperity in the country as - whole.”” Building Is Active - at Carleton Park * Approximately $50,000 worth of oo 2 are already under construc- in Carleton Park, in the Phinney ) Bddition on Magnolia Bluff, accord- | fg to totals announced Thursday. remaining unsold lots in the are to be sold Saturday at auc _ Among those who are now erect- residences In this district are John A. Flannagan, A. J. Fril- and B. G. Owen. An unusual is under construction for Hilke, of the Seattle Lumber o1 iY, who fs building a two-story _ h_stuceo, of 15 rooms, in ae, E. Rogers, af“a cost a empsey Buys Los Angeles Building ANGELES, Nov. 2—Jack , heavyweight champion of boxing world, is investing his po money in bonds, according to ‘announcement made today at the office of S. W. Straus & Co., tment bankers. Together with Kearns, his manager, he bought , apartment house here early in the f, Subject to aa bond issue, With recently added profits he has now d in $100,000 of the outstanding giving him and Kearns, the | Ownership of the building. nty industrial stocks average an Increase of 2.62; 20 rail average 78.82, an increase of athe are bringing 10,000 ts. ‘France will not abandon present Policy, says Poincaire. "President Wood of American Wool- #ays condition of company is in every respect highly satisfactory. Sears Roebuck sales October $22,500,000 against $20,000,000 in ‘October year ago; ten months $174,000,000 against $141,000,000. Pan American brings in new well, Amitial flow 5,000 barrels. Baldwin locomotive shipments large: October shipments reached __ highest point this year. With 14 wells completed ‘drilling Md either cemented or bailing for oduction, Signal Hill, Los Angeles, TRADE TERMS SCRIP “Scrip” {9 the term used to dealg- TAte certificates issued by corpora- Mons entitling the holders to recetve rtain amounts of cash. stock, bonds or other securities, Such certificates Asqued for a number of purposes; 1 eu of cash dividends, in which they are usually payable at a in time and bear interest; to jt fractional shares of stock a “stock dividend” is declared; esent fractional shares of or fractional portions of other itieg in a recorganization, When _ kerip represénts fractional securities, usually has a market value based on the market valuo of the full cer- _ Aificates which it represents. qc z GOSH! THAT’S A LOT OF APPLES TO EAT! WENATCHED, Nov. 2,—Wight ‘thousand cary .of apples have been shipped up to Nov. 1 out of the Nortlwest and Central Wash. ington district, Bight thousand care will be required before -erop Js completely handlnd, turers at cost, | ett | | Low Prices Part of S Buying } ELLBSLEY HILL 8, Mass.,| Nov Copper securities at a new low for the y reached during the | last two weeks, | have stirred the interest of the tn-| vestor, Roger W.| Babson’s survey | on the tndustry te particularly help. ful tn this connec ton. In a report of his findings, ts sued today, the BABSON statisticlan pio-| tures the situation clea: | “The copper industry t or some | time been rolling in the doldrums of ow prices and depressed market oon: ditions,” says Mr, Babson, “From, August, thruout 1 rter of this year, prices padi upward. In March a ary reaction set tn and during the past seven months the trend has been markedly downward, Present jons on a par with those ly part of 1923, | ent domestic consumption, | since the low points of 1921, has con-| tinued tn an uninterrupted rise, About 700,000,000 pounds were con- sumed by domestic manufacturers during 1921; 1,100,000,000 pounds dur jing 1922, and an estimate for the |present calendar year places the jamount fn excess of 1,400,000,000, a figure closely approximating that of aximum war activity during 1918 EXPORT FIGURES ARE IMPROVING “The export situation {9 compara- tively good and {mproving. Export figures have risen steadily from 504,000,000 for the fiscal year ending June, 1921, to an amount that will probably exceed 750,000,000 pounds for the present calendar year. This} figure is In excess of any previous to 1912, and closely approximates the years immediately preceding the war. “During the past seven months there has been no appreciable decline in manufacturing activity. Actual domestic consumption has had only a} allght recession. Exports have held | well. ent low market is found In the clean- | Ing up of stocks of raw material) held by manufacturers. | “The accumulation of such stocks Inevitably accompanies a period of intense activity such as the mills ex- perienced last spring, for It then be- comes necessary to keep a larger sup- ply on hand to {nsure uninterrupted operation. With these ‘greasing-the- machinery’ stocks now reduced to about normal, fabricators must enter | quota of the ear | prices has been 22 and into | @ | past 15 years shows that six months | PRODUCTION 18 NOT |YET ADJUSTED tage Setting for fovement “the market to cover new orders for copper and brass products, Thin baslo reason for the present low p ts in itnelf heavier purchases higher prices. BUYING MOVEMENT 18 IN SIGH “All indications potnt to the fact that the etage is being set for a long awaited buying movement every appreciably upward turn tn ly preceded by shipments from gument for conmequent a strong 8 and an abrupt dre the refinertes to September domest 3,000,000 poun 1922 and over 30,000, low the average point eight months of this since early in is b first 000 poun’ for tho year. Copper buying has always come in waves, Psychology enters the parket in a persistent tendency to ften the on and} follow the crowd, and is dect « factor in the dire extent of a price movement “Another indication of approaching strength ts th lerigth and extent of the declining market. Since the lat ter part of March there has been no} halt In the fall of copper prices. A | study of market Muc for the is the maximum limit of a cont 6 trend “For the time being these factors | presumably have more weight | » market than the relative status ks, production, consumption, sst-war production has not yet been properly adjusted to peace-time consumption. Until such an adjust- ment is made, prices will be deter- mined not so much by the ratio of supply and demand, as by the rate of expressed demand in the form of sales, that is, the yolume of refined | copper actually changing hands from producer to consumer, “The fact that general business ts | { working sidewise and slightly down. ward—the Babsonchart shows pres nt activity 16 per cent below nor mal—may delay this recovery some- t no position of the industry, | purchase of copper stocks, The fact, however, t the long swing trend of the stock market and general bust- | ness Is still downward is a deterring factor, A single group of stocks can not well run counter to the funda ments) situation that governs the entire market. When the bottom has | been reached, however, and the long | swing upward is in order, copper stocks should be among the firat to benefit hy the rise.’ PLAN EDMUNDS LUMBER PLANT Options have been taken on 11 acres of land at Edmunds, Including the unused buildings erected for the Bach Lumber Co, for the establish- ment of a lumber mill to uso nearly | ver island, {t was announced Thurs day by Henry W. Kent of Portland, | and B, A. Strawbridgo of Seattle In addition, it is planned to build a ‘wood pulp and sulphite mill to han- dle wasto products of the lumber mill. It is stated that the valuo of the timber {s approximately one million dollars, and that tho present plans call for an expenditure of three mil- | long. Four companies are now organized and are co-operating to put the ex- tensive plans into operation, They are the Northwest Securities Co., the Tomlinson Timber Co., the Edmunds Lumber & Manufacturing Co., and the Seattle Pulp & Paper Co, Urges Square Deal for Manufacturers A square deal to manufacturers will do more to build the community than much advertising of its scenic and climatic charms, John H. McIn- tosh, general manager of the Asso- ciated Industries of Washington, said fn a speech at the meeting of the Young Men’s Republican club, Thurs- day noon. He declared that any po- Mitical party, if it is to endure, must advocate sound economics, and that the type of laws in a state could ald or hinder its industrial development, Ford Has New High Production Record DETROIT, Nov. 2.—Ford Motor production for the week ended Octo- ber 30, reached a new high record of 42,271 cars and trucks; 502 above previous high mark September 26, Drexel & Co, Halsey, Atuart & and Stone & Webster aro offering $1,115,000 Hlectric Railway Equip- ment Securities corporation equipment trust gold certificates, trust of November, 1923. ‘These cei tificates issued under the Philadel. phia plan, will mature quarterly, February 1, 1924, to October 1, 1928, at prices to yleld from 6.25% for the earijest maturity to 6% for the 1928 maturities, The payment of rentals sufficient to pay these equipment trust certifi. cates and their dividend warrants, as they mature, {s unconditionally guar- anteed by the Electric Railway Equipment Securities corporation, all of: whose capital stock is owned by Goneral Electric Co,, Westinghouse Wlectric & Manufacturing Co, and the J. G, Brill Co, oe. Dillon, Read & Co. nro offering n $1,000,000 of State of Oregon gold 4% per cent highway bonds, dated October 1, and duo serially April 4 and October 1, from 1929 to 1928, Tho bonds aro issued in denomination of $1,000, ond interest {# payable semi-annually, ‘Tho bonds aro. of. fored nt prices to yield from 4.40 to 4,60 per cent, depending on tho ma turlty, eee 6% Serre eae a billion feet of timber from Vancou- || Second || Second Mish Ship News) Tides in Seattle FRIDAY | NOY. 3 | sarcepar First Low Tide | NOY. 8 4:34 @& m., 19 ft First Low Tide | First High TMe (6:42 ao m, 28 ft | 32. m., 11.3 ft. Viet High Tide ww Tide | 32:43 p. m., 11.8 ft. |) 5.4 ft.) Second Low Tide | Tide} 71s pm, 66 | + 60 ft Secon }atstt p. Weather Bureau Report TATOOSH ISLAND, Nov. 2. south, 6 milk Arrivals and Departures | Arrived ov. 2—#tr. Admiral Dewey from Loe Angeles via San Francteco, at| 19:98 pr tur otr. Alasha. from: Taecte At 1:35 «. m. Nov. 1—Str Wilmington | from Tacoma a.m Salled—Nov. Mtr Admiral for Port Angcics at 3 ak. taanecbeet 200 Francisco, York Taco Alexander for Los Angeles via San Fr eco at's fe Dat str Weetham for coma at 1:20 p. m; atr Lottie Hen for Los Angeles in tow of Dolly Se 16:3 7 ste Kewanee for Ban Fri cleco a m; for New York via Tacoma, U ay, Vancouver, B. C., Bverett, geles and Ball: Vessels in Port at Seattle Bin(th Cove ‘Terminal—Mer 41—Str Yo- kohama Maru, Pler 40-—Atr President Inckson, atr For- ost King. Rell Atreet Terminal. UB 1. Me Snohom! Pier 12—8tr Patter, Pier 11B——Str Owego, a.) Unalga. Pier 2—--tr Alaska, str Nabesna, str Re- dondo. Pier 1—Str K. 1. Luekendach, Pier D—Str H. ¥. Alexander. U. &. Shipping Board Moortnge—Ste Anna KB. Morne, str West Himrod. Connecticut Strest Terminal—Str Buware Ineo, U. 8. & Pioneer, str Discoverer, King & Winge—Power schr Ruby. Commercial Botler Worke-——-tr @tarr, Spokane Street Terminal — Motorship Lochgott Todd Dry Docks—Atr Tejon, atr Victoria, Puget Sound Bridge & Dredging Co— Str Patterns Harbor Inland “Dock & Warchouse—Atr Ison. Terminal Company—Str Wilming- , motorahip Libby Maine, Nettleton’s Mill—Motorship Frank Lynch, Meffernan’s Dry Dock—Str Rainier, yacht Sanwa Bryant Lumber Co--S8tr Foront King. Btimson's Mill—Atr Bante Ana, Buoy No. 7—Str Madison, jow Marine Ttallway-—fehry Cama~ eerie ye Rodman U. &. C. 0. Haida, T, Heather, U. & C, @,) uu & Cc Ww! no, Hophio Christenson, Kruse and Alumna; bktna Anno aud Chas, #, Crocker, barge Coqultinin Business of Studebaker and ita sub. sidlarlés for nine months ehded Sept. 30 exceeded that of entire year of 1922, according to statement mado public by president of the company, altho business of the corporation for fourth quarter of 1923 will be slight. ly below that of third quarter, Net profits after taxes and reserves of the corporation and subsidiaries for quarter ended Sept. 20, were $4,868, 079, compared with $4,483,973 in pro- vious year, Wor nine months ended Sept. 30, they were $18,226,254 against $1 840) 414, Atchison net épatating inoome first nine months 1923 at annual rato of 16.1 per cent on common againat 16 per cont first elght months and ac. tual earnings of 12.4 per cent in 1922, ‘Wont Const TAfe Insurance Co, has Inued |“ NE | point thetr polat point may m helpe the « | Ne Nearly | Brock Amer Amer Amer [Amer do An rr Amer do Amer WNASL FINANCIAL REVI Ww YOR. Nov during the we remery whil > If th be estabil and 1s abit was < apared with four ng Be of ral t we y total of timent 4; American w York Stock Market | Thareday’s Quotation: Furnished by Logan @ Bryan $10 Second Ave., Keatt igh Low Close! a“ a. and pi ed fe riod last year th tio te continued, ek. This ence car loadings tn exce: rices maintained a etre Nteel, 9 Pacific, t. Paul wp Mi th *. 13% f ng Atchison, 9 ‘NUMEROUS DIPS. IN GRAIN PRICE le month for 16 con after "AGO, D 1 numerous 4ips and Grain pri | closed lower on the Chicago broad Brake 60 Car & Pod: 19 | Can , os ta ‘ 106% ht 1 pta ofa Droge syndl 60 «| 18% Hide & Lthr, ptd lee rr Brook Butte | chino | Gece ¢ Colore | Colorado Southern The basic reasons for the prea-| fudged by tteelf, would suggest the |Continental Motors Corn | Gruett a Cuba do pta Cuban | Det | Detr Dupont de NX. Dd. & do |General Motors .. do pia Qooar Hudso Hupp Tiltnote ‘Com Int. Inter. Inter. do Kane. Kelly Kennecott Copper Mack Marta Magma Copper . | Mai | Max do May Dept. M. K io pt. Missourt Pac. . do pfa . Montana Power Montgomery Ward Moon . Central ood North Pacifi ‘The foreign exchange market lower. Foreign Money Status Norm $4,866 $1.00, 19.30 19.30 French 4s, 1 British 5, 19 Tiritish ba, Tiritieh Pri Helgium Japanese Japanese Int ‘ign. Japanese tnd 44a, United Kingdom, i928. ; United Kingdom, 1987.. Italy taken additional space at 4928 White } Monry-Stuart building, ot Edigon yn Edison Broa. "A" i Cop. & Zine Be 1 HS) H+ ine | ine | Copper: i | S| oid | as on “4 imk « Products Hieat Cane Sugar 1 Amer Sugar... Lack % ay it nan Kodak tet pia .. ind ped « ahnson “ - | special Ach Com. on Motor Motor ry ey City Bow. Bpringficid Feel nd Olt Bt. Ry. pfd fell MO, Assess 41% | 11% aT.. Motors ..... Haven .. arn Pacitio jo Ol ese F oreign Exchange reday’s Quotations Sterling, demand, j Mire, 90.0640 %; 1. 200,000,000,000. cloned Sterling, demand, $4. cables, M. off 44: france, deman $0.0586%5; 40 off $0.0000%; lire, do- Belgian francs, de- marks, 200,000,000,000, oe $0004: $0.0409%4; . ‘Thursday's Quotations Furnlehed by Logan @ Tiryan jecond Ave Seattle al Value Present Value | tee eee OR cts French franca. 6.874 Telgian frano. Swiss franc Italian ra German mar! # tn cts. Austrian crown 01444 6 Holland florin. .38,85 ¢ Tumanian lel ......0: Spanish peseta ee Foreign Securities ‘Thursday's Quotations Vict. Ref, 4 Tteator, 46 ah ba, as aSilecsssncorns Sosa Ga wee Liberty Bonds ‘Thoreday'a Quotations Tarnished by nay & Besar }en upturn tn wh of trade today. Good buying power that featured after a midd the market closed lowe Corn eveloped in the ports d at the > mped late when w: mple market. Re- f crop damage by excess! clone. Cash Wheat CHICAGG,, Kev, 1 vue 2 hard, 91.09) | Cabbage—Per tb. MP Kar 41.0TS @1.08, 1.09%; Liverpool Grain Open Mish ie P4d teh ad te OM t prices died out rally and as a result ash wheat—No, Chicago ‘Car Lots ari wheat . 14 Corn . mn Cate .. “ hye marley .. aT) ‘ 1 r . Recta, Cont. Reta. 1A. Yr. 23 Denver Live Stock Thareday’s Quotations 4,365; * 40; cow salves, $561.66 nt 2.008 ; Bulk, ecelpts, Top, ¥ Sheep—Heceipte, 11.8 mar atendy. hele stockers and mark Forte) @7.28; pies, i market, steady: Lambs, $11,600 12.60; feeder lamba, $11 @12; owen, 105.69. San Francisco Produce ‘Thareday's Quetat! bye Ih; Rio, on 15015 oe pot, lowe | | | Artichokes—Per doz , ‘ Bquash jaquarters compelled Central Hotel Building) ‘'Home Savings & Plans for Fu The Home Savings & L< for upled tion, which ave, @ 40-foot frontag tral Hotel buflding, jolosing of a 60 entire building ‘I The build ing is owned t D. Co, has a frontage of 12 Westlake clans A con The rental ta the pa has ecc 1520 Westlak 9 in the Cen noed the lease on the annow ear gradual thru the increano balance of the it one of t t important dow of the year, Fo ture the assa the building wit The Home Savings & Loan asso- ciation was established in 1 in Tacoma. In 1 {ts management was taken over . ¢ ree, its vice president, and {t was moved to Beatle, ng at Becond ave, near ed for larger 8 removal the SEATTLE VE Prices Paid r the imme tion Mate fu will operate its present tenan. ETABLES lesale Dealers (The prices given are those made to re- tatl dealers by wholes With enonal exceptions, prices to producers can be figured by deducting the cost of transportation to Beattie and approsi- ly 16% fur hauling, sto an © cont) +-L10@116) 10@ 12 Beane | Beets doz. bunch Local, new, per sack | Brussels Sproute—Per Ib Por Ib. ew, @: Crate, 24 head «. i © 20 aH 90) ci “| . dow Ing. bunches 220 (23 Favenips--Per- euch © 2.00) Teppers—Hell, per Ib, . e Potatoes— Local whites, ewt. . Netted Gama, ton . Madishes—Lo. dos. Punches, Hbabarb— La Kutabagas—Per sack Spinach Local. Per ib, box 00@ 20.00 Summer, | Tomatoes | Ternips— FRUITS Prices Paid Wholesale Dealers Apples— Delicious Jomathans . Winter Bana, King .. King David —per th al prime frets, | © Myo Ib, WMI Portland Produce ‘Tharsday's Quotat! Rotter—10 @ 490 Ib. one Eges—Duying price, (2@630 doz; sell ing price, 6O@S%o dos, Cheese-21\4 @ Fe Ib. Hetns—16 @ 230 Ib. . | Balances Portland | Clearings | Balances | Tacoma tions | Total trans ee 6,594,111.00 | 356,738.00 | 2,800,000.00 | Seattle Stock Market Fornished by Ht. M. Harris & Co 117 Cherry St. BANK hihi Ane American Savings Dank..$. ‘i 4 et 55,00 Btork— Rank of Callfornia Canadian Bank of Com Dextor Horton National Firat National Marine National ... Metropolitan Nat, Bank of Com.. National City .... fieattio National Seattle Title Trust. Union National Industrial Stocke— Albers Brom. com... Albers pfd . Aero Alarm, com Alaska Stenmenip Garnstion, Mitte. Prod. Pra nt ‘ Federal gras Fisher Flouring Mille, General Petroleum com Globe Grain & Milk com, Goodyear ‘Tire & Mubber (Cal, pid... ian Sugar tulad Plantation Lilly World Lite” Oahu Sugar .. Pacific Alaaka Ne Pacific Car & Foundry Pacific Coast Hincult. Pacitio ¢ Puget Bound DEA seers Reld Bros. com Reid Broa. pa Sperry Floor com, perry our pd visccies Superior Portland Coment, Todd BhIpyArds voeseseee Yellerbach Paper pla. Power, “120.00 48.00 98.76 a2 00 | 16 216.0006. HH 1.00) 602.00 Bartietts, per box 25 Plums—Per cr 7 26 oo 03 Almends—t. X. 1... Pecane—Por ib, Mixed Nuts—Per Ib. Walnuts—Cat., No. 1, Jumbo, budded, per 1b. Fancy budded, per Ib, DAIRY PRODUCTS Prices Paid to Shippers Battertat— A grade Seattle delivery. Egas—Fresh ranch, white si Mixed colors condennery. DAIRY PRODUCTS Prices to Retall Dealers Batter—Local creamery, cubes... Local prints, wrapped Egge—Fresh ranch, white shell. Mixed colors. Pullets «. Cheese— Oregon tripl: Wisconsin cream brick, 2 Tillamook triplets, 280 POULTRY AND MEATS Prices Paid Wholesale Dealers Medium, live, 2 Live, lights, 3 to 3% Ibe. 8.'p. 2 cents above tive. Geere—Live, fat, 00! Heigian Hares—4 10) Hides aoe Wool ” Baying Prices, ¥, 0. B. Seattle Galt hides . B Ifekine, gree! cand Upto 10 ibe : Valley ‘woot fn, medium Medium heavy Coarve, cloan 0 Peltem Q Whoo pelts, @AoDicaraane Turkeys—Vancy 4. p Live, fat, per Tb, Roosters—Old, lve, per Ib, Hoge— Choice UgHt ssssesseee Fancy, heavy. 160-200 tbs. POULTRY AND MEATS —Fancy, Meht AVY, COATHO « Medluin, dreamed .. LIVE STOCK Quotations at Stockyards Cattlo— Primo 7.00@ 7.25 Medium to Loan Association rther Growth r to its present loca s had « remarkable growth and its dir the value of contt 6 same location for a long period years, recently opened negotia tions for the trol of the butid t med of The present Ul len 5 ck 1 of Carter, so Ww thru Ruswel Donald & M son pr mutually be pproved by ervisor. ho directors inthrop na V. Eddy, president; | vice president; C. C. Phillips, G. Oyler, Dr. C. E. Guthrie, L. F. Jones and A. E Pierce, 8 A. BE. Pie yet formu improveme © says they have not ated ans for or on of the rly in the ont of the build definite pl orn hat e ngs in MARKETS Rolled and ground, Sprouting, 100° Wheat-—Hecleaned feed, MMi feed, 50's All-Grain Chop-—80 Chick Feed—100'e Chick 1, M. Mash Growing Feed 45.00 49.00 25.00 67.00 62.00 67.00 57.09 1s. 08 25.00 3. Granulated—100" | Cuareeal charg wood) —60 feat Serape—Eastern, 100 | Shell—Iastern oyster, 100 100° 1 Phurston City rae | Country Men Unite | OLYMPIA, Noy, 2—A number of | have formed an agricultural program |for the development of Thurston The program in- s recommendations for dairying, livestock raising, poultry raising, fruits, bees, solls and crops, market- |ing of farm produce, fairs and public |relations, It was found from a sur- vey completed by County Agent E. B. Stookey, that Thurston county |farmers were producing $1,519,000 jthe new program is considered to be ja step forward in uniting the city and county, Nome Gold Industry Reviving, Says Daly other big development in the produc- tion of gold, according to James B. ; Daly, Nome agent of the Alaska | Steamship Co., who has just returned to Beattle. 9 | four militon dollars will be spent in Nome next year for dredges and | other mining gaulpment, Bankers’ Council Sets Meeting Date NEW YORK, Nov. ‘The next annual spring meeting of the exécu- ive council of the American Bankers’ association will be held at the Ban Air-Vanderbilt hotel, Augusta, Ga., Apri} 28 to May 1, 1924, it is announce. ed by F. N. Shepherd, executive man- ager of the association. Timely Farm Hints Published Thru the Co-operation of the Washington State College Agricultural Engineering — Plan now which open ditches can ho re- placed by tile and arrange to put the tile in, Agriculture—If you failed to pack your bees in October, do so now, for | if the bees are packed too late it does more harm than good. Dairy—A pound of molasses per cow per day mixed with water and spread on the stems after she has picked her hay, will prevent waste. Farm Crops—Sow fall cover crops, Use vetch or sweet cloves, depending on your conditions and locality. Farm Management— Figure the first monthly profit or loss and cost record on poult Horticulture—Potato pits give good results when weil constructed, but a regular potato storage cellar house is easily and cheaply constructed and much more convenient for filling, grading and ventilating. Livestock—A cold draft over the hogs and young pigs, causes lame ness, scours pneumonia and heavy death losses, Arrange your hog shel- ter early, Plant Diseases—Clean up and burn or plow under weeds, leaves and any old plant remains. Many disense- producing fungi winter over in such rubbish. Poultry—If next spring's breeders aro still laying, {t is time to invite them to stop, Good hatching orgs can be secured only after a porlod of building up. WASHINGTON, — Tho shipping board has reconsidered its decision 09} to placo 100 ships of tho tied-up Hough: heavy fll Prime lamba Common to cho! Yourlings Wothers . Bwen tava viens ly patents 0, Or ewe Boot, por ewe, HAY, GRAIN AND FEED Whole f 101 or Jed ety e ground, 80a 100% Oato— Whole £000, 100'8 avane: fleet In the Cuban trade to trans. port sugar to the IMnited States this year, Tho cost of placing the ships in commission and the short time available for preparation, the board announced, mado it impossible to carry out the plan, A study will bo made, however, with a view to entoring the trade at somo future dato, TRIESTI, “Ttaly—Tho prefect of Trieste has decreed that all foretgn language newspapers in tho elty must publish full Ttallan transla. tion, in typo of equal size of every article, communication and advertise: ment in thelr columns, allure to comply will mate the papers subject to sequestration, of the essociation | ] | | worth of farm products yearly, and) Nome is on the threshold of an-/ Hoe stated that three or | “GRAIN RATE CUT | Coolidge Suggestion Is Not Practicable, They Say WASHIN Nov, 2—Eastern raflroads formally notified the inter- mmerce commission nat they cannot accede to Prest- 's recently expressed ro quest for reductions in export grain rates to ald farmers dispose of their surplus wh A Gelegation of leading railroad executives called on Chairman Meyer of the commission today and formed him that in the opinion of rajlroads such reductions would not achieve thelr purpose, The executives pointed out also that it was “impracticable” to con- 6 the proposed reductions to East- rn roads, because the Western roads would be forced to make correspond- ing reduction on export wheat thru |the Gulf and Pacific ‘ports, and ex/ | plained that the Western roads are ,{n no position to s' and any reduction in thelr revenues. LIBERTY BOND PRICES WEAK ‘Official Explains Reasons dent Cools, | for Present Market WASHINGTON, Nov. 2-—“Liberty bonds are weak and sagging,” ony Now, the finest securities of the richest government in the world, drawing mostly 4%4 per cent net, |ought to bring par or better most Jany time and place. | Then why the depression? This is what the writer went to Uncle Sam's | treasury to find out, and this is what a high official of that department |said in reply: | “There are two reasons for the de- |pression. First, the general bellef that the coming congress will pass a soldier bonus bill calling for the is- |suance of more government securi- |tes, estimates ranging from two to |four billions, Naturally with the | prospect of such a tremendous in, | crease in the supply, the demani 96 | prominent farmers and business men |sags more or less, Even the richest nation in the world cannot digest so much without gulping a bit. “The second reason is more subtle, and involves our old friend, income tax. For the period from January 1, 1921, to July 2, 1923, the total poss!- ble exemption from surtaxes and profits taxes to the holder of Liberty bonds amounted to $160,000. That is to it was possible for the holder | of Liberties to be exempted to this amount. But on July 2 last the total possible exemption was. reduced to $55,000. “On July 2, 1926, all exemptions on Liberties will be off forever, with the exception of the original 34's, which are absolutely exempt from everything, Hence wealthy holders of Liberties are still unloading at a terrific rate. One big bond firm in New York has exchanged more than $100,000,000 Liberties for tax ex- empts in the past 30 days. You can hardly beat these rich tax dodgers, now, can you?” Which explains why “Liberties weak and sagging.” All of which is good news to Eng- Jand, for by the terms of the debt funding agreement, Liberty bonds are fccepted at par on interest and prin- cipal of the debt, so that if Liberties can be brought down to 97, for exam. ple, a very probable arrangement, Great Britain can save $3,000,000 on every $100,000,000. OLYMPIA, Noy. 2.—The following ae cles of incorporation have been fi the office of the secretary of si Hays Clothing company, Seattle, $300,. . W. T. Hays and Russell Conklin, Bine Lion company, Spokane, $500.” G, A. Underwood and Gertrude B. Reichert. To operate and carry on the business of selling advertising of every Xind and ebaracter, The Quality garage, Beattle, $3,000, Eugene F. Dawson and Oscar G. Elefson. De Mars Portable Butlding company, Seattle, $6,000. Changing name to Mare Portable Building company, Washington Stlvpe Fox Farms, Walts- burg, $50,000. W. E. MacBoyle, M. Mf. MacHoyle, and Gc@rge MacBoyle. Barton Grain wad Feed company, Kennewick, $10,000, changing name to Barton-Gleaaon Co. ‘alin & Son, Incorporated, $5,000. C. A. Palin andW. P Bellingham Finance com} ham, $99,000, sey and G4. Wright, hland Dairy, Longview, 15,008 B, Thomas, J. B, “Wot P ies iat Robt. Fredlund, Archibald Pearse on rod W. Brokaw, Ward & Sargent Logging com) Aberdeen, increasing etocky $0,000 4 $50,000, increasing stock, Tacoma, Saxe Inc. Seattle, $10,000 to $20,000, Building Permits Anthony Pleinish, oT 18th 8. W., frame reatdonce, 26x: J. Wy Orphan, 1703 Weailake N, frame residence, 34x33, $4,200, bes Mason, $14 1. Mercer, hotel, Board of estimates adopts 1924 budget of $375,462,000; an increase of $22,117,024 over 1923, She SEATTLE NATIONAL SEC nae AT COLUMAI/