The Seattle Star Newspaper, January 1, 1924, Page 14

62 emt KE I 4 } i rt lon enaia si is PAGE 14 THE SEATTLE BEAR TUESDAY, JANUARY 1, 1924, THE STAR’S PAGE OF NEWS FOR BUSINESS MEN NEW BUILDING ‘Reports Sound Progress RECORD IS SET in Pacific Coast Trade 1924 Will Start With Rush | in Issuing Permits high record in 1923, Permits for $2: 847,720 worth of buildings were is sued during the year, Supt, Robert Proctor of the building department, announced, Permits in 1922 totaled $19,785,835, A total of 10,365 permits were {s- sued, compared to 10,292 iast year, The year 1924 fs starting off with | a Jump as permits for $2,073,000 in buildings have deen applied for and! will be issued Wednesday. Tho per mits previde for the construction of & $500,000 dock by the Pacific Coast Co,, & $1,000,000 building by tho Met ropolitan Building Co, and an apart: | Stephen | ment to cost $565,000 by Berg and a garage to cost Joseph L. Greenwell. GREATEST AUTO. YEAR IS CLOSED. Railroads to Spend Millions for Equipment in 1924 NEW YORK, Jan, 1.—‘The great- est year in history—that is what 1923 has been to the automotive industry.” J. C. Royle declared in his business review yesterday for the New York World. “While final figures have not yet become available, there is ample evi- dence that the output for the year in American factories has practically reached four millioh vehicles, com. pared with an outturn of 2,584,296 in 1922, “The year was a disappointing oon for hide and leather industri. annual period was started with Savy stocks of hides on hand and prices 000 by showed a steady decline up to mid-| year. There was a betterment after that time, but not of sufficient pro- Portions to make the year a prosper- ‘ous one. “The most significant thing as to the condition of railroad equipment | industry today is that the American Ratiway association has determined to continue the program of equip- ment improvement which attained such proportions in 1923. Appropria- tions for such expenditures totaling $243,804,400 will be carried into 1924. “Full returns may indicate the steel industry, taking all things into consideration, had one of the greatest years in history in 1923. In May of | this year steel operations reached the highest point tn its history, The erage for the first ten months of the | year was only slightly below that for the record year of 191! The ‘Seattle Kiwanis club will meet ‘Wednesday noon in the Hotel Gow man. Ed Wynn, the celebrated come- dian now playing at the Metropolitan | theater, will give a talk, Foreign Trade The United States bureau of for- eign and domestic commerce has ro- ceived the following inquiries from foreign firms which are in the mar- ket for. American goods. Full in- formation will be given tp American firms on application of 8. H. Bla lock, district manager of the bu- reau, Lowman building, Seattle, AUSTRALIA — (8724) Equipment for regrinding shop; (8719) canvas, 100,000 yards, 36 Inches wide, 16 ounces per square yard, not less than 52 yards in length. CHINA—{8707) Drillings, FRANCE—(8733) Fruits, ly fresh apples, GERMANY—(8709) Canned corn beef, canned fruit, condensed milk, fruits, dried and canned; (8711) can- ned meat, condensed milk, fruits, dried and fresh; (8720) grain. NEW ZEALAND—8702) Lumber, especially ready.cut. PANAMA—(8104) line and kerosene, dairy equipment cotton. especial. Engines, for operating dairy equipment, ha izerccmarmapener rs seme Financial Flashes Frow Sarre Macfartane # vo, 1 Becond Ave. Forty leading stocks, crease of industrial stocks ¢ of .14; 20 rail stocks ‘age 80.10, an increase of .29 **e Dun reports 360 failures for the week, versus 41 in the pre week, and 407 in 1922. $6.60, a de Hupp Motors, nine month. September 29, net prof: rer) ended , $1,940,011 Surplus freight cars repair December 11 were an increase of 19,808 over p ing week. Canadian operatin| versus § Pacific Canadian government reduces sales tax on newsprint to cent from 6, effective Ja Plans for electrific lines on Staten penditure of $15,000,000 Aggregate November ing income, 59 railror $67,887,000, versus S6 operat steel and lumber furn for better in footwear markets nd signs of leather and Pepnsyl net operatir sus $6,18 income Baso- | | BY JOHN PERRIN Federal Reserve Agent for Twelfth Reserve District Sound and substantial economic progress characterized the your 1923 Hin the Twelfth Federal Reserv dine | trict, despite irregularity in a fow fields, notably agriculture, Complete returns for 11 months and partial returns for December indicate that |the year has been one of record Jactivity in production and business, while bank eredit for growing, hai | vesting and marketing the district's crops, a4 Well as for financing com- merce and industry, has been con- | tinuously available at moderate cost. Production in the major indus. [tries of the district attained high levels during the spring months of the year and, except for sexnsonal ‘declines, was generally maintained during later months. The follow. ing comparisons of November, 192: with November, 1922, illustrate the situation: Lumber cent increase; the 20 per copper, 38 per cent; silver, 5 per cent; petro- loum, 59 per cent; flour, 176 per cent; building activity, 15 per ‘cent, Employment conditions, on the} } whole, have been normal or better than normal, and thus far this | winter seasonal unemployment has been no greater than usual. Final judgment concerning the year 1923 must, of course, await and | to some extent be based upon a show- ing of the results of the year's oper- ations in agriculture, and here the statistical testimony is least authori tative and most conflicting. It is wn that physical yields of the} principal crops of the district have generally been large, and in somo cases, notably wheat, of record pro- | portions. Profitable disposition of |the crops grown has not been ¢ | in all instances, however, and it may | be sald that two large groups of/ | farmers, those engaged in producing | wheat and those raising deciduous | fruits, have experienced considerable | difficulty in seljing thelr crops at! prices which would return them a| profit on the year’s work. Specific ihformation concerning the live stock Industry ts even more | difficult to secure than that relating to general agriculture. There can be little doubt, however, that the sheep: | | raising industry has almost complete: | ly recovered from the depreasion of | 1920-1921. Improvement in the cattle | raising industry has been more tardy in appearance, but there has been progress. The total volume of business transacted in the district is most ac- lourately reflected in figures of} [checks drawn against individual ac- | }counts at commercial banks, which | production, also indicate record activity during | cutive semi-annual dividend on Its! May Dept. Stores } 1923, pared by this bank, in the construc tion of which the 1919 monthly ay. | lerage was taken as 100, has stood [above 120 In every month of tho} [present year, except September, and the average for the year was 128.5. | |The average for the previous record | | year, 1920, was 122.9. | Any allowance necessary for nor- jmal year-to-year growth woudl be | more than offset by the correction for changes in the price level be- tween 1920 and 1923 (prices have} been approximately 25 per cent low- | ¢r during 1923 than during 1920), | and it therefore follows that the physical volume of business trans-| acted during 1923 was substantially greater than in any previous year. The high level of consuming pow jer which has followed naturally the full employment of labor at good | ages has been reflected in in-| creased sales of retail stores. Dur- ing November, 1923, the value of sales of 35 representative depart- ment stores reporting to this bank | was 9.3 per cent greater than in November, 1922, and in several earli- €r months of 1923 the margin of in- crease over 1922 was even greater. | Trade at wholesale has shown | An index of such debits, pre- | moderate gains during 1923, as com- pared with 1922, an active | with no evidence of the feverish ac: | tivity which characterizes periods lof speculative buying. During No. vember of this year, nine of the 11 wholesale trades (agricultural imple | ments, jomobile supplies, automo: bile tires, drugs, dry goods, olectri- | cal equipment, furniture, groceries, ardware, shoes and stationery), for | nich this bank showed an tn ds compared collects sa! aso in with a alue o time during the year has upon the district borrowed except in een werious n structure of the banks have from the reserve bank small amounts, their total discounts rising from 9,000 at the | ot 7 to a peak of 8,000 on August 28, and then declining to $22,000,000 by the first week of December | credit Country not be- | tal loans of repor mem. | ber banks, altho they adily thruout 19: COULD You! DUPLICATE IT IF Lost Q That valuable document that means so much to you will be as safe as human agency can make it in our lodern Electric Safe De- posit Department. Inexpen- sive. Efficient. Inquire today. om Che igs Ws SEATTLE NATIONAL - «2 BANK -«:- '- SECOND AT COLUMBIA: ‘Reserve District Head Finds Business in Good Condition Seattle building permits set a new | | $21,000,000 In January to $64,000,000 | trict during the first 11 months of! | greater than during | Hons in thes {ments are 8 fig), per cent greater on December & than on January 9, and practically all of tila Increase took place during tho first six montha of the year, Borrowings of elty member banks from the reserve bank rose from in October, but declined thereafter, and on stood at $34,000,000, Intereat rates have changed little during the year period. Customers of large San Francisco banka have generally been able to secure acy commodations on prime 30.90-day pa- per at 6% per cent. In other cities of the district rates on this class of paper have fluctuated between 6 and 7 per cent. On the whole, available informa tion concerning business conditions in the rural districts, altho not alto- gether favorable, presents no evi. dence of general agricultutal depres. sion. Some statistical support for this view of the situation is afforded by reports of mail order houses rapidly December 11 | which transact the larger part of | ¢ thelr business in rural communities. The value of such sales in this dis- 1923 was approximately 15 per cent | the first 1 months of 1 | Two other major industries of the) district, copper mining and petroleum production, have experienced diffi- culties during the latter half of 1923, In each case output was markedly in excess of current consumption, and a depressed market, with falling Prices, resulted. An increase in de: lay's Quotations Durmuned by Logan & Bryan B10 Hecond Ave, Seattle Stock Migh Low Chere Advance Namioy wetion. Mas Rubber silted” Chemie WHEAT RISES UNDER SHORTS Belated Coverings Cause; December Corn Breaks CHICAGO, Dec, BLA sharp ad- vance in. December wheat and @ break of $1 cents in December corn featured the pied th clone on the Belated used & 1%ec upturn in December wheat. A» the trade advanced toward the clone, activity of holders of December con- tracts revealed open Interests in that delivery were larger than expected. Holders of nupplien took vantage and sold for profits, May showed & wlight advance with buying In- duced by unfi rable crop news from the Southweat, Heavy profit, taking caused the sharp break. of 3%. In December corn, bringing the closing price to 68, the lowest since last September. For a short time prior to the clone the price reached 67% added the additional f Drug Bynal. | Hide @ Lthr.. La France... » Lowe , . Amelters » Soger Amer, Tobacco Amer, Wooten Ansa. Dry Good AU. Guilt & W. Atchison. vse Auto Knitting & O.. Brrehnut pke Heth, Steel com. , Nooth Fisheries , Rrooklya Balson Hrooklyn Union Gi Burne Bros A,... Durne Bros Ht. Hutte Cop. & Zine Hutte & Kuperior short covering which made for an upturn from the day's low wae totally eclipsed by the action of profit. tak Oats felt the weaknei and closed fractionally lower. Interests who were responsible for the early advance left the pit to sellers, Some short covering was in evi- dence, but It was of no account. Proviniona el ed irregula: a Chicago B Board of Trade a ne $140 $1438 s ly, Late Chicago & N. W Chao, Te * We vid. Chile ¢ “iuett Peabody Cole, Houthern Cons. Clears ‘ons, T Cous, Tex Crvcibl Cuba Cane "een, Cuban Amer, Sugar. Del, Lack. & W.. Davison Chemtoat Detrott Rdlson Domes Mines . Dupont de N. Rest Man Kodak. Elkhorn Coat 73% re. 78% mand for copper and a decline in production of petroteum In aise iF year have tended to improve condi: two industries. PRODUCE HAS ACTIVE YEAR| Western Avenue’s 1923 buniness in perishable fruit and produce. will | total 7,000 carloads, exclusive of de- | liveries by trucks and by water, it | was estimated Saturday. Total shipment, up to Desember 1 are given officially as 6,558 carloads: by | P. $. Darlington, district horticul tural inspector, and December ship estimated at a minimum Jof 600 carloads. Potatoes led in volume with 1,743 carloads, with apples second with 147, and oranges third with 643. Miscellancous produce was credited with #3 cars, Drug ¢ Company Has Good Year in 1923 On December 31 the Owl Drug Co, mailed checks covering the 34th con- per cent preferred stock to 2,400) stockholders, It 's announced that| of the 1,400 employes of the com-| pany, 600 are elther stockholders of | long standing or are now acquiring | stock thru a special pian oe by the company a few months ago. The company reports a substantial 1x | increase in volume of business over 1922, not taking into consideration | the business done by the new stores | which have recently been opened. | |Hercules Mining Co. Firm Incorporates BOISE, Idaho, Jan. 1—The Her- cules Mining company, backbone of the fortunes of the Day brothers in Northern Idaho, yesterday filed arti- cles of incorporation for the com- any, isting a capital stock of $5,000,000 and a capital “to begin| businesy” of $1,000. The Hercules has paid dividends for the last 20 years and is the last of the produc. jing mines of the Couer d'Alene dis. | P' trict to operate as a partnership Tho new coporation is chartered un: | der the laws of Delaware. Arrivals and Departures Arrived—Jan, 1.—Str Curacao Oak'and via Ban Francisco, af 2 tr ‘Alsaka from ‘Tecoma, olled—von. 1 On.ka via’ Bverst 0 6: te | | from | 18a mi} | Vessels in Port at Seattle |‘ Pier 41 Str Shid- Pier 40—atr President Terminal—#itr Tokiwa| Terminal—U. #. L. HT. Unalga. ington, etre Conat Coal Shipping Board Moorings—atr Street Terminal—Motoranip h, U. 8. #. Dincoverer, Plo- mercial Spirit King & Winge—sonr. hubs ae Anvil fan Juan Fishing & Packing Co,—Mtr . C. G, Bure Terminal—Str Kalkju Spokane Atreet Terminal—str N Duthie’s—U. & 8. Connectieut. Bast Waterway k & Wareho: Jappa 0 Stra Panaman, neda, Moonlite, arenta. D leton Range, barge Dac Heffernan Engine Worke—Str Iatnier, U, 4. Deliwood Beattio Training Btation—Kagie No, Ttallway—Sohrs Betey + Bophie Chri industr increased several poultry ry. are 45M Ath 12.18 Fiolechmaan ¥ Freeport 7 ine 240 12.15 oan Liverpool Grain Monday's Quotations Wheat Open Iligh Low — Close Dee ed Fe ANG te ONG Be oha Hovaton Olt S%d Se ONG FeO Kd Hudson Motor upp Motor Ma, Central Inspiration Mer. Marine 4 Inter, Paper 24g | No. 3 spring, 1.10%. Tnvinetble © Pe bd Iron Denver Live Stock Monde, No. No. & hard, $1.03; Sewell nd helfers, $4.60@7.4 kere and feeders, § 1,050. » He 120, Market, steady ldo higher, Fat lambe, $11.60@ 12.69; feeder lambs, $11.6012.50, eee Portland Produce Manhattan Shirt ..,. Monday's Quotations Market St. Ry. . nu | Datter—44g 400 td. Martin Parry 20% | Rages —Duyini 54 | tng price, ‘ket, ot Lehigh Valley tee Tire Latt, Ine. ry 7 to Mack Truck Mackay ..... Magma Copper Mallison, Th. ¥ Mex. Seaboard Oil re Mene—1i g2t¢ do pta Aden Pacific a Raw, 0@1.90. tens $7.03; refined, dull; Moen Meters National Acme . Rio spot, 10% @10%e Ib.; tonal Biscuit Nes Banton, th@tsse Ib tonal Kinamet & 8. | : nal Lead Nash Motors. Foreign Exchange sg en ig y YORK, Dee. 21—F | Ney aver opened lowe: Hterling, es French franc, $0.06114 Helgian, $6.04494; marks, | trittion to the dolla: Close: Merling | france, 90.0609, mand, pode as) frane lire, lt four x Y.64aW Okia. Prod. & Ret, Otie Steet Owens Bo! Orph Pac demand, $4 Off $0.0002%; lire, oft 10.0001%; He! ott dollar, Clearings . «- S6ATL IA RS Balances .. 3,252.99 Penoayivania Phillip Mor ay Phillips Pete. Portland | Clearings . 4, 722,B02. 00 i | | Balances : - 1,562,220.00 “Tacoma 1 {metal transactions do pta ree Ol id. & Ref ; Premed Biol Car... Pub. Bre. Corpn.. Pullman Co. Pure Of . Ray € Reading : Rep, Iron & Mitel... Repiogle Steel Reynolde Tol Reynolds pri hi : French franc : Belgian franc Swine franc Ttallan lira Swedish krona Norway krone Danish krone Greek drachma Austrian er.0.000014 | ‘\Holland florin cova Rumanian lel Renece ¢ ee anish peseta Bimmna Pete Gree Khel Union Of Foreion Securities hell Transport Monday's Quotations Pornished by Logan & ryan B10 Becond Ave., Beattie Bia Foreion Monev Status Monday's Quot: Furnished by Logan ry ryan B10 Becond Ave., Seattle 19.80 cts... 19.30 ctw 26.80 ctx 6.80 te 26.80 ctw | 16.00 ctw wih! 20.20 ots 4 Seaboard J 4 ot 38 cts 6.0051 cts 12.93 cts > Huger Btocks Asked | Russian ei Standard Ot Callt |Mtandard OWN. J Britieh British British Belgium Re Belgium Premivim newe vepane ond Japane United Kingdom, United Kingdom, Italian 6s AM as Hides and Wool Buying Prices, F. 0. B. Seattle Bait hiden Bulle sss aircon hides Bulle calteking. green oF” Nort up to 16 ibe No. Kip, ereen or 192 1937 according to size 0.60@ 1.00 + 100% 3.00 Wool pelts, dry— Fine, clean Medium clean . Bhearings .. ai Mohair, long, staple, ib wool niedium or Coarse, clean . Cotted or matted Pelte—Halted, Bheep pelts. | } , : | fF walted, each... | fine... : eyrier ( J +51.00@ 2.00 paper nds + a Ma Ped doe Ma O88 wiles 1 | Wat 4.31% cts] Retail Sales (Note—Ralph F, Couch, econo mist and statistician, with ae. cess to government reports and figures, has worked up for The Star a careful study of finan | celal and industrial conditions in | the United States at the close | of 1923, This is the seventh of ten brief articles, in which he | traces the high spots of the business year.) BY RALPH F. COUCH | WASHINGTON, Jan, 1, ~~ Retall} dealers have just handled a holiday | trade that is sald by many to have | been the biggest in many years, | Dealern in nearly every section of the country for many months have been enjoying a volume of business greater than that of 1920, which, it will be recal was a boom year) in buying. Altho demand slack-) ened somewhat during the summer ! months, shoppers continue to throng the stores in numbers great- er than ever before, ‘This is shown} by reports from many centers ro- celved regularly each month this} year by the federal reserve board and other governmental agencies, | The sales volume of 306 big de- partment stores in every section of the country in January was report- ed to the federal reserve board as exactly equal to tho sales volume of 1920, In March, sales volume showed an increase of 23 per cent above 1920 an@ in April, 18 per cent. May followed with a gain of 28 per cent and June with 23 per cent. Then came a slackening and the | dence that sales volume now for Past Year Reach Big Volume Buying Power of Public Demonstrated in Many Varied Lines wales volume dropped in July to 90 per cent of the 1920 volume. Re- covery began in August, when hales went up to 98 per cent, Altho | reports for succeeding months have not yet been received from the de partment stores, there is ample evi- must be well earlior monthn, This is shown by the mail order trade, which in October soared to | &@ total of $27,743,000 worth of busl- ness for two big houses alone, was 234 per cent greater than the monthly average volume of busl- ness in 1920 and a record. When} mail orders grow, department store business volume is also known to be high. The S-and10-cent stores have en- Joyed a record-breaking business in comparison with 1920 since tie early months of 1923. Their last report showed a sales increase of | more than 200 per cent above 1920, Chain stores, dealing in tobacco and cigars, reported increases above 1920 ranging from 100 to 200 per cent for nearly every month of the current year. The so-called “luxury” trade is growing. Nearly $1,900,000,000 will be expended this year for amuse- ment at theaters and motion pic. ture performances, it fs estimated, In the first elght months of 1923, the federal government received ap- proximately $59,000,000 in taxes on admissions to amusements, above that of the cent on all offices. money paid into box SEATTLE VEGETABLES Prices Paid Wholesale Dealers (The prices given are thowe made to | retail dealers by wholesalers. With a few | seasonal exceptions, prices to producers 4 by deducting the cost of 204 approxi tlorage and selling cost.) Artichokes—Per dor. .. Neots New, per sack ... Cautifiewer—Per crate . Celery—Locat, per erata . Local green, per don. | parsley—Loc, doz. ing. bunches Parsnips—Per sack ..- Peppers—Cal, bell, per Local whites, owt. Netted Gems, t 2 Radishes—Loca}, dox bunches. . | Rutabeges—Per sack .. | |Turnipe—er sack FRUITS Apples —Dellclous fiplteenberas . Jonathans Winter Bananai King Danagas—Per tb. | Coconnute. iH aH ‘Strained, por 1. | Huckleberries—Per Tb. Mi Lemons — x | Pineapples—Per crate . NUTS Prices Paid Wholesale Dealers China, per Ib, Pecans—Per Tb. xed Nute—Per th. fancy, No. 1, per ib. Diamond brand, per . . Jumbo, budded, per Bi Fancy budded, per tb. DAIRY PRODUCTS Prices Paid Shippers Buttertat— A grade, Seattle delivery Ege*—¥reah ranch, white shell. Mixed colors . PRODUCTS Prices Paid Wholesale Dealers tt Cheese— | on triplets Winconsin cream brick Block Swiss .... | POULTRY AND ME AT: Prices Paid Shippers per Ib, Live fat, Broilers Capons Fan Hens 230 444 tbe. and up Medium, live, 3% Light, 2 to 2% Ibe. Geene—Live Fancy dressed | Nelgian Hares—Live ves Turkeys—Fancy a. p, young MARKETS |. live, per Ib, ney block Cholee heavy, 169-200 POULTRY ‘AND. ‘MEATS © Frices Paid Wholesale Dealers Dacks—-Dressed, per Ib. Hene—Dronsed, beavy Dressed, light . Live, light, i. .. Lm eis ='e pe | Geese—Dr eh ‘ancy, Hight .. Weary, couren . Mediuin ... LIVE sTOCK Quotations at Stockyards 1.25@ 150 7. good Fair to medium Canners Calves « os Prime sseeee Smooth heary Bewss beary PIGS seveeeee eep— Prime lamba Common to choice Yearlings . Wathers Aan! Seon EH eewane | Alfalfa Hay—First grade Straw . . Yellow, 120 acked and feed meal Barley—Whole feed, 100 Rolled and ground, 80's-100° Oste—Whole feed, 100 Rolled and ground, w a Cocoanut Meal. Oattonneed Meal for New Years SAN FRANCISCO, Dec, 31.—Tur- keys dropped heavily in price on the local market today. Live birds were | quoted at 20 and 22 cents per pound; | dressed, and cents. A few! fancy were selling at 26 cents. Under- grades were quoted at 15 and 21 cents. The drop under Friday's prices was. from 8 to 10 cents per pound. | Linoleum Company in Larger Oifices|" The Armstrong Cork company, Unoleum manufacturers, have moved their Seattle offi from the Smith building to larger quar in the Terminal Sales building. A feature of their new show room will be the installation of Inoleum floors with marble effects. This | ‘This | tax {9 a straight levy of 10 per} FAVORS CUT IN WHEAT ACREAGE | Coolidge Advocates System. atic Control of Output CHICAGO, Jan. Teeduction of: wheat acreage to insure |over-production waw advocated | President Coolidge in a letter |Dublic here yesterday by the wheat lcouncll of United States, The president urged “meth j@pproach to the underlying pray lems the farmers confront,” “The effort, in an organized | systematic way, to establish such 4 | measure of control over wheat sem. jage a9 will measurably insur | again over-production {s altogether |to be commended,” the communh |cation stated. “Almost every im portant business, except agricyl, ture, hag trade organizations and |assoclations thru which it fs |wible to deal with such vitally tm. portant matters.” President Coolidge also advo. cated a concerted move to increas the demand for wheat products thry established methods of business ex ploitation. TRADE LEADERS ARE OPTIMISTIC | Chicago Business Men Sea Prosperity in 1924 | CHICAGO, Jan. 1.—-Leading busle ness men of Chicago are confident that 1924 holds promise of increasing prosperity. Annual statements issued today point to healthy advances made dun ing 1923 and predict excellent bueb ness for the new year, James B. Forgan, chairman of the board of directors of the First Nas |tlonal bank of Chicago and the Fimt ‘Trust & Savings bank, sald that bush ness this year still felt the influence jot the depression of 1921. At the same time the year marked a revival of business, be said. “The outlook for the future may be |termed a hopeful one,” he said. Forgan urged congress to stop tin kering with laws and stated ft could than to “let well enough alon America’s grain trade has passed thru its most distressing period and the future is bright for agriculture, |John J. Stream, president of the Chis cago board of trade, asserted. While the grain exchange does not believ in co-operative marketing, neverths less it has not opposed the idey Stream said, Utter failure of the co operatives was forecast by unless practical grain men are gives a place in the organizations. in store for 1924, Thomas J. Vernia, vice president of the Indiana Lime stone Quarrymen's association, de- clared. This year established new records, he said. The average weekly volume approximated $60,000,000, which is 1922, Meat production during 1923 wag the greatest in the history of Amen ica, Thomas E. Wilson, president of | Wilson & Co., declared. Tho 1922 fig | ures have been exceeded by 1,500,000, }000 pounds, he estimated. The im |crease is due largely to hog produo tion. 50 per cent more meat than in 184 |ho stated. As the meat business ts a fall barometer of business, prosperity it this country is general, he said. Port of Portland Sued for Damages | PORTLAND, Ore., Jan. 1—A de |cision of nation-wide) importance t@ shipping practice was given yester day in the case of the shipping |board against the Port of Portland for damage of $37,000 caused when the steamer West Keats, being shifted by a port tow boat, struck bridge piers. Federal Judge Bean held that the ‘ow boat was under orders of @ |pilot hired by the vessel's repre: | sentatives and was accordingly not responsible, u New Corporations Herron, 1 _ Community Club 1 Bellings J. Ni del-Donovan Timber Co.. $1,000,000. J. H. Prentice, novan and F. KE. Frost. Ostrander Railway & Timber Co,, Ove trander, increasing stock $100,000 t# $800,000. | Northwest Transit Co, Seattle, change | ing place of business to Everett. Western Vapor Kiln Co, Seattle, Dee | cree of dissolution Pacific Lighterage Co., ducing stock $75,006 to $10,000. Inland Empire Lodge of Spokane, Spe kane, no stock. Thomas 8 Progers and Ll. A. Grathan. A. A. HOUSMAN & CO. ANNOUNCE The Opening Of NEW OFFICES AT 624 Second Avenue Telephone EL iot-2166 Wednesday, January 2 NEW YORK COE NEW ¥ MEMBERS NEW YORK t BXCHANGB ‘ORK C CHICAGO BOARD SAN FRA OF TRADE ANCISCO STOCK LOS ASSOCIATE MEMBERS LIVERPOOL COTTON EXCHANGB COTTON EXCHANGE AND BOND EXCHANGER ANGELES STOCK EXCHANGE Stream — A tremendous building program ig } $6,000,000 over the weekly average of | Europe purchased from 30 te = g : Whi tains t artist in 80: The ré BY Perf I've ‘em, in ME—yo “fhe P ropolita tainly, cultivatt Well, ing hou the onl; in eo you ¢ stage Lusinest back off THE at least behind tiere, I wa