THE CHAKLOITE iJEWg, CHARLOTTE, N. C, THURSDAY EVENING, FEBRUARY 24, 1921
MARKETS MOVED
f 0 LOWER LEVEL
rfaS no Essential Change in
Surroundings Under
Which Stocks Moved.
By STUART P. WEST,
staff CorrespoBcUnt of The Jiewi.
irlit 19H, by w rnbllshtnr Co
street. New York, Feb. 24
i t was no essential change in the
T niindings under which the financial
4 vrts moved today. The weakness
ffar .,-. muld plainly be set down to
? cumulative effect of iniluenees that
already known and fully recoaniz
ff ir mav have been that the close
mch of the critical London conter
' German reparations contributed
""'Lain amount of fresh unsettlement
T"'s.: ei.riins fell Quite sharplv and
.inental rates were dragged along
con i. fiiso showed, to some extent
p continued demoralization in the
ttcn market, .cut, v
I n considerations, as
But, with stocks, the
on previous
f',L sort of earning reports which
f' , uch destructive results upon some
, the industrial shares and, second, the
ood of further cutting-or passing
ia-p!ih
'oi after the start of business this
"Vni'rr it became known that the
I "torV of Ajax Rubber had passed
dividend. While this action had
f"eL' .othpr senerally looked for since
deficit disclosed since the 1920 oper
'":?. it moved not to have been fully
',Vntfd in the selling price of the
the tire group in general
Sunched at
.nj talk of
dividend uncertainties ac-
the
weakness in Goodrich
;L eivevp fall in Kelly-Springfield
, .... r-nPhnck had another ugly break.
American Agricultural Chemical
under urgent pressure as the result
IfV disclosure made yesterday that
.Lnfet e omission of the next quarterly
li'AanA i likely
illied Chemical and Dye was driven
' be'ow the bottom prices both for
?hk rear and last. This was a further
'Jcainn of dislike of the new finan
plan calling for the huge sum of
iitO 00't.OOO preferred to go ahead of
u .'present common shares. There was
FKial weakness in Corn Products, in
on in Texas Company. The prob
Iniii'v that the Alloy Steel dividend will
be passed at me lumuig mccmiS
n.m'P,l for the selling in this stock
while the proposed increase of 15 per'
cent in the capital outstanding ui iwm
Company wa3 the reason for the weak-
row in these shares, me suggestion
rhor maintenance of the full $10 divi
dnd on Chandler Motors is by no means
.'iired. hai a disturbing effect upon
iii tha motor issu3. The tobaccos were
prompt to respond to the forecast of
their annual reports, which was not at
ill flattering. ... . a. ,
These weak spots, among individual
tnnk were sufficiently numerous to
have a rlPDressinz influence upon the
rneral list. Still, it was rather a col
lection of individual downward move
ments for downward causes than any
renewal of the main decline which cul
minated last December.
The weakness in stocks reacted on
the cotton market just as the fae
that cotton was selling well below the
rest of production had its unfavorable
reaction upon stocks. - "The grain -Jtiar.
k't. which all along has been quite a
sensitive to Wall Street changes ais tc
developments in. the grain tradt, teil
harply again. Copper Quotations con
tinued to dra cn their bottom level cf
12 1-2 cents a pound
Uncertainty regarding Welopment3
at the comins London conference man
ifested itself in another direction be
sides the market for foreign exchange
There was a general easing off of Euro
pean government securities with some
approach to weakness in the French
government external loan, the prim ry
market for which is here. There Wr.re
two classes of stock wniclv showed very
fair resistance to the downward ten
dencv.
One was the shares of, the compan?ea
'men have completed thiLir trade au
justment and about whose earnings tne
worst is known, the other stocks which
have recently voted their regular div
idend. In the first category were Cen
tal Leather and American Wool; in
tf-e second, Industrial Alcohol and
Continental Can, the latter responding
to the declaration of the usual divi-
lend today.
SILVER.
York. Feb. 24. Bar silver, do
mMi!c 93 I-;; foreign 56.
Mexican dollars 42 1-2.
CHICAGO POTATOES
(nscago, Feb.
northern white
c"'vt; bulk none.
24. Potatoes firm;
sacked 1.30 to 1.35
EW YORK PROVISIONS.
New York. Feb. 24. Butter
'-rr.Bry firsts 44 tn dQi.9
firm;
stsady; fresh gathered firsts
to 39,
;.-C!1Vsc "mer; average run 24 -to
poultry steady; chickens 27 to-
'" rOOStorto It ,n
lU 10
poultry quiet and un-
SAFE CRACKERS
-"imnucd Horn I'ase
rianv the Indian Refining com-
::ounn,bber' 'ast week but no an-
''- or
a clue has been made.
v si- .u 1 vr is personally super
me wort nf thk nntin
'fmJJ T ,s now expressed that the
h'rtr !.n are nne too experienced In
ft V i - -
hva k ''Uben Profession. While they
provinT" carerul to cover up all tracks,
e rnL unus.ually successful at this,
about Ti. . 1 ln which they are going
not "f,i" T Work indicates that triey are
f i " """v inujcaies mat
Two " 'IT at the game
for
explosiorio nrai-s nnxiiaurv tr
re
r.r. -
"Pen the door of the Avant com-
not ai, , . "Good safe-crackers"
do
The But one trlal-
he PafLtggrnen. finding no money in
ilL... Iac,5 theater aata Vtwitra intn B.
and stQre adjoining the picture house
al" f ne cigars and $15 In casn.
sh trtfn; crackers do not bother with
Glared g amount of money, it was
'JpTcrapilure t0 use 80a-P for stopping
t!) ladl ..8lven as further evidence of
experience on the part of
they
0,e"' t0 say the least, and some-
m A...vr a thousand ftn flftort hun.
"h h Km cash checks and liberty
s been taken from two safes
vaMi(1t.n.ts the npie-hho'r-hnnrl nf the
ro V 00i v, , . i .
"wtprt trJ i, ""a v-oai company imvc
...i . t0 the DoliA tVi tvv notlned
Ttsdav men leave the coal" yard
n ti-mornmeabout a aviapU-. about
aeks of t. An investigation found
:411owm men- These tracks were
n't u '.awards east rhrlott then
-V WQ rt -
- reported.
1 ' . . " ' 1 "' 111 - 1 I. . - - . . ."'.
Paragraphs 1
By STUART P. WEST.
CoP3-rlUt by Xews ruMIrtin Co-
SEARS-ROEBCK.
It
is vertf hard
r y Jnformation about tfc ' inside
of the Sears-Roebuck situation. From
supposedly inside sources there have
been no bearish intimations for sev
eral weeks past. On the contrary, the
talk -has bea rather, bullish , if any
thing, talk to the effect that the 'Janu
ary earnings statement which was so
ry.T?00r marked the absolute bottom
ml? company's trade adjustment,
and that the February earnings will
!Siie-f showing It has also
been denied that any new financing
was contemplate. But as against this
if the evidence of the tape with the
stock breaking as it did today into
rr?U?d very. poorly support-
f " IV UPiOW i- . This mar-
ket action brings to remembrance tht
, '"vurauie annual report, the
substitution of a scrip for a cash divi-
tV e -use lnvntory account
,7,,. I,e"wnre went up from W .
ino, vu.uuu.uuu wun tn-3 course
eLiZ6,1.1 the end of the
Y? e oodat 544,560,000
Tn 7y1 ''av"rvvy) at the beginning
a-o that o stated a month
ago that Sears-Roebuck hari ai,r.,
no outstanding contracts for goods to
be delivered and that this would fa
S tat,rducti0" of inventory and
the settling up of a fund to pay off
-- -- - ui uanKs. jsut the
street remains skeptical about the new
question and this is wha
ouutvo in me present
ment of the stock.
market move-
LMTED ALLOY STEEL'.
their meet to b h-ld within the 'next
111 Vie exPsted to discontinue
r,o.;" paymenc 1 a share
U""V,J in,? stock. The com
fr tv.. t ,1 Ln hard hit b thl2 slump
1 ?lel business and in the auto
mobile industry and for th nsci tv,
months has done practically no work
m tne last thirty days
lt8 business has dwinrllorJ ,
,1 , , qUarterIy ' rate has been paid
regularly since January, 1917.
THE RAILS.
The railway shares were not as weak
as the industrials. They sfill have,
however, to meet the severe test of th
January earnings statements, which will
ouuw me railway situation at its very
i C' .A"ere is some suggestion of
tne beginning of an accumulation es
pecially in the low priced issues, but the
e . ore commonly given is to wait
unui tne January reports with their
heavy deficits are published and that
mc nm ueine time to buy.
TEX.S CWMFANY.
The market professed not to like the
announcement by, the Texas Company
of a 15-per cent increase in the ranitav
stock which will be offered to share-
noiaers or record April 29 at the par
of $25. This Will raise ' the . authorised
capital from $130,000,000 to $143,000,000
It will give fairly attractive rights to
holders of the shares. But this was hot
the aspect which appealed most today.
Rather. it was the prospect of a lot -of
new stock coming upon the market.
AMERICAN SUGAR.
.Sugar .refiners, who had withdrawn
from the market vesterdav. awaitma-
the action of the newly created com
mission, were, encouraged this morn
ing by the news that the commission
naa nxed 4 3-4 cents as a fair price
to begin operations' in raws. The re
finers immediately put up their quo
tations rrom 1 1-2 to 7 3-4 cnts. The
nrst advance a fortnight ago caused
hurried buying of American Sugar
and other sugar issues. Today in
tne case of American Sugar there
was the counter-balancing considera
tion tnat tne annual report .will be
out next week and will make a very
sad showing. This long over-hanging
bad news will have to be passed and
me siock absorbed before American
Sugar will do to buj . This, at least,
is- the poinion expressed in most
quarters. . .
SUGAR.
New York, Feb. 24. Raw
steady, 5.77 for centrifugal.
Refined unchanged 7.50 for
granulated.
sugar
fine
CHICAGO PROVISIONS.
Chicago, Feb. 24. Butter higher;
creamery extras 50 1-2.
Eggs; firsts 33 1-4 to 3;
Live poultry unchanged.
1-2.
NAVAL STORES.
Savannah, Ga., Feb. 24. Turpentine
firm, 50; sales 98; receipts 68; ship
ments 98; stock 14,402.
Rosin quiet; no sales: receipts 247;
shipments 34; stock 79,449.
Quote: BDEFGHIKMN
WO WW 11.06.
Last sale. November 12, at 11.00.
WASHINGTON HOTELS
RAIDED FOR WHISKEY
Washington, Feb. 24. Federal pro
hibition agents picked from the Mary
land and Ohio forces visited many ho
tels here today, arresting employes in
the first effort on a large scale to
break up the alleged illicit- traffic In
whiskey carried on at those. - places.
More than a score of persons were or-
rested. '
Thomas E. Stone,' supervising Fed
eral revenue agent,- who is in charge
of the special force, said his men hid
been gathering evidence for two weeks
and had found that large quantities
cqjored alcohol, of various grades,
aome of it poisonous, was being sold
in some of the hotels.
In some cases where the agents
tried to make purchases at a hotel,
Mr. Stone said, they found tsar tne
employes handling the - liqunr were
"a'll out" at the time, but that invaria
bly the agents w$re given a note to
an employe of another hoM who fur
nished the liquor.
NIGHT RIDERS WHIP
TENANT ON GA. FARM
sQttshoro. Ala.. Feb. 24. Silas Blev-
ins. tenant on the farm of Henry Cap
erton, near Stevenson, was taken from
his home and given a severe -whipping
by night riders last night, according to
the victim's statement made today to
county authorities.
Blevins said that more than IflO
mounted masked men carried him from
h. nrMinee of hia family to a lonely
wood near his home, where he was beat-
en ' with straps and wnips Dy six or
ii-ht. members of the band. Doctors
found the man's body covered with deep
cuts and numerous bruises.
The victim attributed the beating to
his refusal to' join the "tenants' union."
a new organization that has sprung up
in north Alabama.
Officers investigating the case said
that the night riders who whipped Blev
ins called upon several other tenants
during the night and issued warnings
that they must jeio W union.'
COTTON MARKET
WAS UNSETTLED
July Made Low Ground
For the Momement; Near
ed December Low. '
BY STUART P. WEST.
Staff Correspondent of The News.
Copyright 1821. y w. PublisMii Co.
New York, Feb. 24. The cotton mar
ket was weak and unsettled today not
withstanding, yesterday's- indication
that March notices would be taken
Care Of at. tha 'nruvailin ,t;c-
j i UiUCl clicks
"J between months. Many local traders
have felt that once this fact had bn
established the market might be ex
pected to improve on covering follow
ing recent declines, hut buying on this
theory was checked by unfavorable
Liver DOOl cables, wrv Vicon'oV,
uuvices irom Manchester, and reports
that Southern -bikers were' urfeing
farmers to sell some of their holdings
. . ' - w - J L! ..A f J
m oruer. to reduce their' obligaticrs
before beginning active work on the
new crop. .
m .
-inere Was aJSr a .renm-t 'V.r,t inn
hales of cotton was coming back here
from Liverpool for r&i
tract on which the shipper expected
lu majve a pront: This naturally
emphasized the fact that ti, r.iT.c.,.,-.,,.!
- v . - . . LV.'J1
market has been verv far v,oi
tarity with the South, and. that there
ia nu immeaiate ti-ade outlet for - the
LiVCTPOOl StOCk. Thft tn.irl.-ot
ened. steady an unchanged prices to a
uecime oi nine points, and sold about
-J' to 35 noints nrat Inwor k ."., ,.
-v.. KAWi L
end of the morning, with May touch-
iiiB . Aa.x:, wnein made a new low
record for the seaf-en.
July made new low rftun' frii' ti t.
movement and sold within 20 points
ut me iow record established late in
December. Middling cotton was quoted
at 7.4Sd in the Liverpool market this
uioriiing wnicn, according to the fig
ures of a local spot and commission
nouse man, with sixty days si-ht
quoted at 3.85, is a price of 11.04 in
New York allowing nothing for freight,
insurance, tare, etc.
j.ue ocean treiglit - on cotton to
Livei-pool is now down to 25 cents
per nundred pounds for high density
and 50 cents for standard bales.v
Part of the Liverpool selling here
was thought to be in the way of
hedging cotton in the Liverpool stoc;t
which: probably accounted for th rel
atively easy ruling of May contracts.
One of the private cables received
ii om Liverpool said that banks were
pressing for loans, that mlils were
nosing ana tnat conditions were gen
erally depressed. A Houston ' telsgi am
said that the Federal r?
cmcials. at Dallas were urging liquida-
ni unu . ine taKing or some losses by
v vcluii, gram ana cattle interests.
CHARLOTTE CbTTON.
Receipts today, 12 bales at . .
.13.
NEW YORK COTTON
New York, Feb. 24. The cotton
iiiAi-Ket was influenced by weak Liv
erpool cables and unfavorable Man
cnesxer iraae advices during todays
early tradinsr. The
at unchanged prices to a decline of
j pumis out tne market soon weak
ened under; scattered southern and
. local sellinar whi."
- positions somen 20 to 25. points "below
last nig ht's closing figures with March
sellmfir at 12.KO anri -tfir
Only ope March notice was reported
. iiie street . ana that month was
relatively nm'pt rvi,.o t nv.i..
Liverpool- said that mills were c!os-;
u's aiiu mat conditions were verv
unsatisfactory.
Reports that Southwestern bankers
"" nquiaation of cotton
gram and cattle -in orders that farmers
might reduce their obligations were
followed by jmoro active and. Ser -iral
selling here, , later in the morning.
re,' ,aI selling on reports
that 100 haW nf K
were being shipped back here from
7ve'PU01 aeuvery on contraci and
stop JOSS orrfprs
tho break which carried May into new
giuuiiu ior tne season and later
ucuvenes into new low ground for the
movement. Mflv snlrl nff n in na c
-1 " J.O.VV O.IIU
July to 13.4o, with active months show
ing net losses of about as tn ak
points around midday.
Active months snlrf di tn c
net lower with May touching 12.80
and July" 13.30 -hpfnro the
- . ..v. utcftiv W tXSS
checked. There was good buying at
ucvjuiie, nowever, partly for con
tinental account while .Ta
ests Were active hi
prices later showed rallies of 10 or 1
irum tne lowest.
Close New York Futures.
New York. Feb. 9d -Tho t
market closed barely steady.
Wit T.rvtir rl
- j.yi VIUOC
Aaarch ' .-12.85 ii oe .loo?
May 13.42 12!76 12.77
JvlY 13.S5 13.22 12 014
Oct. 14.40 13 'SO to oo
Dec. . 14.8." id n i4nJ
- New York Spot Cotton.
New York Fh. 24
quiet; middling 12.55.
. NEW OKU54is COTTON.
New Orleans. Feb. 94 a in.rn
trend in cotton today was due td
unfavorable news Iw
rf . vm-wjv x i. Vill JJL y -
erpool and Manchester and to the
attitude of banking interests in urgin
iunner liquidation of holdings "of spot
cotton. In the fi
the session prices Inst ?3 tn 97
- vv. ua
and March dropped to 12.45.
Claims of a larger movement tp
market of spot cotton in the western
belt and the continued weakness of
silver in the London market, together
reports or mills shortening run
ning1 time-on both
- w v. mt- a.Lll.XA"
tic, increased selling pressure. In the
trading up ..to 11, o'clock prices were
6ent 39 to 47 points under yesterday's
close, March falling to 12.28.,
New low levels for .the season "were
reached in the early afternoon when
March fell to 12.11. At this 1px-i th
trading months 'wer K tn Re i.tn
under the final prices of yesterday.
" - lung contracts contin
ued and at 1:30 o'clock prices were
within a couple of points of the low
est. . . Close New Orleans Futures.
New Orleans. Feb.
market closed at a- net decline of
65 to 77 points. .
, . High Low Clos
March
12.60
12.03 12.04
May '
13.13 12.43 12.43
13.49 12.74 12.74
July
Oct.
.... 13.90
12.75
13.25
13.05
13.25
13.50
Dec.
------ w - w - v vw
New Orleans Snot Cntnn
New Orleans.. Feb. . 24 snnt mt.
ton easy, quotations revised.
Middlinsr 27 lower: sale fln tho mrtn-
3S0; to arrive 300. ,
Low middlinff 8.50: midtlirns- 1 9, f5-
good middling 15.00. ' - . ?
receipts J.995; stock, ,421,725. - x -
LIBERTY BONDS. -New
York, Feb. 24. Liberty bonds,
closed:-3 l-3s 90.92; first 4s 87.14 bid.
second 4s $6.56; first 4 l-4s 87.18.
second 4 l-4s. 86.58; third 4 l-4s 90.02
fourth 4 I-4 86.74; victory 3 S-4
97.40; victory 4 3-49 .97.42.
Grain Market
Copyright 1921. by sew Piiblishinc Co.
Chieago, Feb. 24. Wheat developed
considerable weakness today. The prin
cipal depressing influence was the ul
timatum issued by union labor last
night. The belief gained ground that
capital and labor was about to entar
into a struggle which was sure to
undermine the prosperity of the na
tion and with' this belief in view, hold
ers liquidated and new buying pow
failed to dtvelop.
The only buying which" developed
was from buyers of bids who were
trading' against them. Red wheat
premiums dropped to 12 cents over
May compared to 15 to 16 cents over
yesterday and 24 cents over two days
ago. Milling demand for wheat . io
slow andocal millers report very poor
flour demand. About mid-day the. sea
board reported Italian government in
the market for wheat and 175,000 bush
els booked. Movement of wheat in. all
positions is increasing!
Corn was under pressure because of
the break in wheat and the enlarged
movement. The fact that the market
failed to respond to the big export
business yesterday was disheartening
to the bulls. The only support was
against ' indemnities. Cash corn basis
was -1-2 cent lower. Bids from exporters-
were 1-4 cent lower with a fail
Quantity booked in the- local market.
Fair quantities of corn were worked
at the seaboard for. export. Domestic
demand slow.
Oats worked lower in sympathy with
other grains. vTrade was without fea
ture.. Cash oats were relatively,. 1-4 to
1-2 cent lower j than the futures. Do
mestic shipping demand slightly . bet
ter. Receipts were heavier.
Provisions were lower with grain.
The trade ignored the 15-cents up
turn in hogs.
Chicago. Feb. 24. -Bear pressure
in connection with the unsatisfactory
labor situation brought about mate
rial downturns today in the price of
wheat. Initial quotations varied from
unchanged figures to 1 1-3 cents lower.
- .Corn opened 3-8 to 7-8 cent off.
Oats started 1-8 to 1-4 cent lower.
Provisions sympathized with , the de
cline in cereals.
Corn closed unsettled, I 1-4 to 1 3-4
cents net lower. . - ..
Wheat closed .heavy 3 3-4 to 4 3-4
cents net lower.
Chicago Cash Grain.
Chicago, VFcb. 24. Wheat, No. 1
red 1.79 1-2 to 1.80 1-2; No. 2 red
1.78 to 1.80 1-4.
Corn, No.2 mixed 67; No. 2 yellow
67.
Oats. No. 2white 44 1-4 to 45; No.
2 white 43 to 44 1-4.-
Rye, No. 2, 1.48 1-2.
Barley 70 to S3. '
Timothyseed 4.00 to 5.50..
Timothyseed 4.00 to 5.50.
Cloverseed 13.00 to 18.00.
Pork nominal. .- ... t
- Lard 11.32.
Ribs 10.50 -to 11.50. ,; . , .(.' ,
f Chicago Grain and Produce.
Open, iiigh. Low. Closi
-nUEAT-March
.
May . .
CORN
May .v.,
July
OATS
May . ..
July ...
PORK
May . .
TVRD
May
July . . .
.:i.70i 1.71ii 1.67
..1.60 1,61 1.56.
... 70,i 70 T 69
... 72 72 71
1.67
1.5634
69
71
4.U
" 4a'"r'45"
...46 46
44
45
.'.20.80 20:85 20.75 20.8b
...12.05 12.10 11.90
.. .12.40 12.42 12.25
...11.25 11.27 11.15
,,.11.62 11.62 11.57
11.92
12.27
1L17
11.57
"RIBS
May
Jfuly ...
.- MONEY AND EXCHANGE.
New York, Feb. ?, Prime mercan
til paper 7-1-2 to ,7. 3-4, .
Excliange heavy; sterling . 60? day
bills and commercial- 60 day bills
on banks 3.80 3-4; commercial 60 day
bills 3.80 1-2; demand 3.85 1-4; cables
3.86. , '
Francs." demand ,7.08; cables 7.10.
Belgian francs, demand 7.39; cables
7.41.
Guilders, demand 33.98; cables 34.0S.
;"-Lire, demand 3.62; cables 3.64.
:- Marks, demand L57; cables 1,58.
" Greece, demand ' 7.84.
Argentine, demand 35.12.
Brazilian, demand 16.00.
Montreal l2 1-8 per cent : discount.
Government bonds irregular; rail
road bonds irregular.
Time' loans steady; CO days, 90 days,
6 months 6 1-2 to 7 per cent.
Call money steady, ruling' rate 7;
bank acceptances 6 .1-8.- . J .
About 12,500,000 acres of the new
Czecho-Slovak republic are given over
to forest cultivation. This is ap
proximately 30 per cent of the re
public's whole area. .
SEEKS TO IMPEACH
: JUDGE K. M. LANDIS
1
- 1 K
Rep. Benjamin F. WeJtj,
Representativa Benjm!n Wtty
of Ohio has started a movement in
the house of representatives to im
peach Federal Judge Landia of Chi
cago for two acts. On is tfea
judge's acceptance of the Job of
supreme arbiter of baseball. The
other is the judge's radical act" ia
allowine a bank teller, charged
with embezzlement of $36,000, free
dom on his own cognizance with
the statement that the bank official.
were to blame for his act because
they paid the teller calj t'JU a
month. -
f - W v
.".vAw.vwf v":y,-.-...;.v
v-v- AVJN .
y -.vav'..:-
-. S w
'- ? J
'
- mmt " "
X. i '
' ' ' . I . J . , . . '. '
Wall Street
New York, Feb. 24. Selling of spe
cial issues which bore , the marks of
involuntary liquidation attended the
early dealings on the stock exchange
today. Sears-Roebuck, yesterday's
weakest - feature, sustained an -Initial
loss of '1- 5-8 and this .was. soon ex
tended to ;4 points. Kelly-Springfield
Tire reacted to- the same extent and
other rubber issues, as well as motor
accessories,, developed increased heavi
ness. Shippings and oils, as repre
sented by Atlantic Gulf, United Fruit,
Mexican Petroleum, Royal Dutch and
Texas Company were lower by 1 to
1 1-2 points and - coppers denoted re
newed pressure. Among rails, losses
were "confined to fractions.- :
Trading shifted to steels and tobac
cos at midday.' Bethlehem. Crucible,
Republic and United States Steels wore
lower by 1 to 2 1-2 points. Declines
in American and Sumatra Tobaccos,
Tobacco Product and Retail Stores
ranged from 1 1-2 , to 3 points. Oils
and chemicals continued - to lose
ground.
The closing - was heavy; sales ; ap
proximated 550.000 shares. -
NEW YORK STOCR LIST.
... (Last Sale.)
Aius-unaimers . . , .
American Beet Sugar . .
American Can . . . . .
American Car & Foundry
American ttMq s, t
. . 35 1-2
. . b47 3-4
. . 27 1-2
. . 122 '7-8
)fd 43 1-2
'.. 44,1-2
.. 83 3-4
.. 41 5-8
. . 92 3-4
84 1-2
. . 100 1-4
62 1-2
.. 3S 1-4
.. ' 82 .
. . 48 1-4
.. .88 '7-8
. : 34
. . 57
. . 116 3-4
. . 38
. . . 69
. . 59
27 1-4
. . 27
.. 21 3-4
.. 28 3-4
. . 69
.. 91 7-8
i . 23 3-4
. . 13 3-8
.. 129 1
.. 13 7-
. . 35 7-8
v. 763-8
. . 30
. . 88 1-2
.. 34 1-4
.. 51 1-2
. . r.i i-
.. 17 7-5
. . 99
. . 5 1-2
. . 156
.. IS 1-2
..-IS 3-8
. ." 31
. . 18 1-2
.. 71 1-4
.. 19 7-S
. . 101 12
. . 83 1-4
.. 3 1-8
.. 73 3-4
. . 40
.. 38
.. b28 3-4
. . 13 1-3
.. 75 3-4
" 66 3-4
.. 60 1-S
.. b39
. . 23 1-4
.. 78 1-8
.. 21 S-4
..108 1-2
. 58 1-8
8 1-4
. . 41 1-2
. . 23 5-8
.. 53 1-2
. . 8 7-8
. . 120
.. 23 1-2
. . 54 1-2
.. 70
.. 66 1-8
S3
. . 50 1-2
. . 45 1 4
..-7 1-2
.. b84
... 20
.. b31
.. b6
.. b48 1-2
. . 102 1-8
.. 33
.. 34
119 L-4
.. 9
. . 20 1 8
. . 65 3-4
' t- -..u.w w uatiiti.
American International Corp
American Locomotiv-3 . . .
American Smelting & . Ref.
American Sugar ....
American Sumatra Tobacco
American T. ' & T.
American Tobacco Sec. . .
American Woolen . . ....
Anaconda Copper .....
Atchison . . . . ." . . . 1 .
Atl., Gulf & W. Indies
Baldwin Locomotive . .
Baltimore '& Ohio. .. ..
Bethlehem Steel "E"
Canadian Pacific ....
Central . Leather . . . .
Chandler Motors .....
Chesapeake & Ohio . .
Chicago, Mil. & St. Paul
Chicago, R. I. & pac. ..
Chino Copper .... . . .
Colorado Fuel & Iron "."
Corn Products ,. ...
Crucible Steel
Cuba Cane Sugar '.!
Erie
General Electric . .
General Motors .. .-.
Goodrich Co. ....
Great Northern pfd
Great Northern Ore .....
Illinois Central . . ..'..
Inspiration Copper
Int. Mer. Marine pfd .. . .
International Paper . .
Kenneeott. Copper .. ..
Louisville & Nashville . .
Maxwell Motors ....
Mexican Petroleum . .'
A3iami Copper ....
Middle States Oil ... .,-
Midvale Steel . . . . ...
Missouri Pacific .
New York Central-". , J "
N. Y., N, H. awd Hartford . .
Norfolk 35b Western .....
Northern Pacific . . . .
Oklahoma Prod. & Ref. . . .'.
Pan-American Petroleum . .
Pennsylvania ..
People's Gas .. .. .. ..
Pittsburg and W.. Va. . .
Ray Consolidated Copper . .
Reading . .
Rep. Iron & Sti "
I Royal Dutch, N.-, Y. . . .
fehell Trans. & Trad.
Sinclair Con. Oil
Southern Pacific .... . .
Southern . Railway .. .. . .
Standard Oil of N. J; pfd. . .
Studebaker Corporation . . .
Tennessee Copper .. .. ..
Texas Co . .
Texas & Pacific . .
Tobacco Products . . . . . ,
Transcontinental Oil ....
Union Pacific . . . .
IT. S. Food Products
II. S. Retail Stores . . . ;
U. S. Ind. Alocohol
United States Rubber .. ..
United States Steel . . . .
Utah Copper .. .... .. ..
Westinghouse Electric . .
Willys-Overland . . . . . .
Atlantic Coast Line . .
Coca-Cola .... .... . .
Gulf States Steel . . .. ..
Seaboard Air Line . . ....
Sloss, Shef. Steel & Iron . .
United Fruit .-. .......
Virginia Caro. Chem. ... . ;
Pure Oil . . .. ..........
American Tobacco ....
American Zinc .. .. ..
Invincible Oil . . . . . . ....
General' Asphalt ........
Liverpool corro.v.
Liverpool. Feb. 24 TVittnn-' .Cnnt
dull; prices lower. Good middling 8.93;
fully middling 8.33; middling 7.48; low
raiaaung 0.23; gooa ordinary 4.83; ordi
nary d.8d. ,
Sales 3,000 bales, including 2,200
American. Receipts S.000 . bales, no
American. . ' .
Futures closed weak. February 7.53;
March 7.58; May 7.92; July 8.18; Octo
ber S.40; December 8.46.
COTTONSEED OIL. V
New York,' Feb. 24. The'' cottonseed
oil market closed weak. Prime sum
mer yellow 6.50; prime crude 5.00. '
February 6.50; March 6.57; April
6.90; May 7.46; June 7.55; July 7.81;
August 7.90; September S.12.
Total sales -36,000.
SPRACLTN WAC ACQUITTED.
Sandwich, Ont., Feb. 24. Fe v. J. O.
L. Spraeklin, former liquor license in
spector, today was acquitted on a
charge of manslaughter in connection
with the shooting of Beverly Trumbie,
an inn keeper, in, a raid here last November.-
The verdict was returned 55
minutes after the case had been given
to the jury. .
JUDGE HANDS RflXER "
HIS FIRST KNOCKOUT.
Kansas City, Ma., "Fighting Boh"
Stewart, charged with vagrancy, stood
like an ebony statue representing indig-
nfltinn vtrVin Tnil- Twur T h'lAminff
of the South Side Court, asked why lie
aid not worn, .
"Why. Judge, I don't have to work,"
ho sand , in a.ererritveA - tonos "T'sa 9
prize fighter and I'se in training now."
"Oh!" said the Juda-e. 1 "So por're a
rriz fla-htr. What in the nam. nf
your trainer?" - -
"Clarence."
"Clarence what, and where is he?"
VI don't know?--
"Vftu flnn't K(kpm tn h vrv well an-
auainted with your trainer." comment
ed the Judge. "Did you ever lose a
fight?" v
"Ain't never lose none yet," "replied
the coming Jack Johnson. -
; "Wll ... Rnh ". -f fum.- tha vorAieyt ".tliis
is a fight you are going to lose. Twenty-
nve aouars.-' - ;
Canada is " discussing the 'possibUi
ties. of thi musk ox as a source of
xooU In the Arctic, region,' east of the
- a.iwsv&XACiAO x 4 f UUMWUQ J Vl&coc dill
nals are to . be found foraging and
'iriving . on a pasturage . which r.c
ther animal but the. "reindeer coalf.
.ive on. -
117 A l r 1 1 1 iii i m.
Curb Market
BY STUART P. WEST.
Copyright 1921, by w PabllshlBC Co.
New York, Feb. 24. Price move
ments were highly irregular on the
curb market today, with a number
of issues standing out prominently,
notably Guffey-Gillespie, .which was
in good demand and scored a sharp,
advance to a new high record for the
present movement. Trading was lar
ger than in several weeks and al
though commission houses had some
selling orders it was noted that the
professional element, operated mainly
on the buying side, covering short and
aiding in the upturn in one or two
stocks. -
As stated Guffey-Gillespie : was the
prominent feature and in addition to
the demand from outside sources,
there was buying by some of the
traders resulting in- an upturn of
several points. Proftt-taking sales caus
ed a later . reaction on- which only
part- of the advance was lost. Inter
national Petroleum displayed moderate
activity, and rose a fraction, and a
small - gain was recorded in- Simms
Petroleum. Skelly Oil held about
steady. ..
- Ryan Consolidated 1 continued : quii.3
heavy, and there was an easier ten
dency in Carib Syndicate 'after a
display of .firmness in the early deal
ings. Maracaibo ruled around the
previous close. The Standard Oils
were in better demand, California
moving up -two points, New York
one point and the Indiana shares a
small fraction. ' -
There was little doing in the mis
cellaneous list. Durant Motors was
firm, but Cleveland held about un
changed. United Rstail Candy and
Sweets Company Were steady. North
American Pulp and Paper was heavy
oh small dealings. United States
Steamship and Urited States Ship
Corporation were quiet. International
Trado-mark moved up about a point.
Car Lighting was heavy and active,
the selling coming from traders.
Mining shares were less active.
Nipissing, on rather, heavy selling, was
lower, and South American Gold and
Platinum dropped a eur stantial frac
tion despite official .announcement 'that
the new million-ton " dredge is operat
ing. Bostir. and Montana, on the
other hand, rose two points from its
lowest in the early dealings. '
onds were moderately . active with
the Copper Association notes the lead
ers. Price changes generally were
small.
Livestock
Copyriffht 1921, by News Poblikhinr Co.
Union Stock Yards, Chicago, Feb.
24. An- improvement was noted in
the cattle . values . yesterday and an
other advance was quoted today. Ex
port buyers, taking cattle for Belgium,
made sellers more optimistic. Weather
conditions also were better than for
some time, and it was said that east
ern markets for the ready product also
was ln fair shape.
Even ;vith the present demand for
cattle, however, there is nothing in
the situation to encourage large runs
of plain cattle. A small supply of
live muttons boosted values for all
grades. ' r v :
Receipts today were estimated at
9,000 cattle, 31,000 hogs, 11,000 hecp
ana 4,000 calves..
sjattl? trade was antiv-e aft .-. a
somewhat slow start and many sales
of choice steers were up 50 - cents.
wnne even tne plainer lots were stron
to 25 cents bisrher. Strictlv nrimt
steers were held at 11.00, with a good
part of the supply at 10.00 and better.
Steers 'sold todav at 10.10 that wmiU
have hard time to make 8.00 at the
low point of the, year. Cows and
heifers sold strong to 25 cents higher
While canners were steady. . . Bologna
duus were quoted at 5.00 to 5.40
for the best On a stronger market.
vvnile . calf trade was . up most 50
cents. Packers paid 11.50 to 12.50
for choice vealers.
Hogs were strong and "mostly 10
to 15 cents hisrher at -th - ".start.
This compared with the' average of
me aay oerore, out the ; trade was
weaker late in the session, with sales
aoout nice tney weve- yesterday for
:he heavy j3tock, .Top light hogs maue
10.40 awhile rough' packing grades went
arouna s.uo.
Lambs again sold 25 to 50 cents
higher. Ton lots were nlaced at 10 7K
to 11.00, . while, aliorn , stock brought
in in - a . . -
xu.uv.- .15 liiuLiuns were mosuy ou
cents "lip and choice ewes made S6.25
to . 6.65 i'6r the" hiarh mark.
, Receipts of livestock for the week
uius iar stand: 42,689 cattle, 128,866
hogs; . 66,091 sheep against 38,957
etrttje,,-, 150.238 hogs. Stf.763 sheeu t.h
same period,, last . week and . 51i052
cattle, 118,288 hogs, 57,179. .sheep
the corresponding ifeek last year.
Chicago, Feb.' 24 Cattle: Reef stAr
steady to 25 cents higher; top 10.75;
bulk 8.50 to 10.00; butcher stock and
bulls 15 to 25 cents "higher; bulk fat
cows and heifers 5.25 to 7.nnr huiia
largely. 5.25 to 6.00; few choice light
ueei duus t.vv ana nigncr; calves 25
to 50 cents '.higher? stockers" and feed
ers strong. '' ; " '
Hogs: .JFairly active, '.'.10 -'to. J5 cents
higher: than yesterday's averas-p: Uo-him
up most; top 10.40; bulk 200 pounds
down ID.flO tr 10 20- 'hijllj- oon .,,j
up 9.25 to 9.75; pigs 25 lb 40 cents
nigner; bulk desirable 100 to 120
pound pigs 9.50 to 10.00.
oheep: Killing . classes eenerali- so
cents higher; 76 pound shorn lambs
10.00; no choice handy wooled lambs
sofa early, 10.75 bid; bulk fat lambs
9.50 to 10.50:. 104 nound x-ariino
7.00: no choice wooled yearlings sold
early; 105 pound ewes 6.65; bulk fat
ewes'o.uu to 6.40.
REALTY TRANSFERS
Th d Progressive : Resltv '
J. C. Bomar, for $1,250, a lot on Tre
mont .avenue, Dilworthv ' -. - -- -
John R. Pharr-to A". M. Be'rryhill.
for $6,000. a4ot'on Poplar street.
Frank;. ;.Jones .to George 3T. Gil
bert,, for $1,800, a lot on. Seventh
street.
A. .S. Cowan to J. . B. . Kerr,, for $750,
a lot on Parkwood avenue.
The Progressive Realty company to
C. S. Oakley, , for , $1,250, a Jot on . Tre
mont avenue, Dilworth: . - :'
W. J. Craig and S. M. Craig to' S. N.
McEwean, for $100 and other . consider
ations, a tract of . land in Clear Creek
township. ;
SEPARATE CONFERENCES.
Washington,. Feb. 24. Separate con
ferences of senate. , republicans . and
democrats have been called for March
5 to take up questions regarding re
organization incident to the new ses
sion and seating of new members.
$35,000 FOR BENNTNG.
Washington, Feb. 24. An appro
priation of $35,000 for th infantry
school at Camp Benning, Georgia, U
contained in the army appropriation
bill which-has been repoiveS to the
.senate.
Bond Market
j
By STUART P1. WEST. '
Copyrifkt 18S1, by News Publiohlnr Co.
New York, Feb. 24. In the main, the
tendency in bonds was towards slightly
lower prices. This was particularly
true of the government division. Therer
may or there may not have been some
connection between the heaviness in
bonds of the allied governments and
the approaching' London conference '
with the Germans with its possibilities
of-the reparations demands being re
fused ajid consequent forcible penetra
tion of allied troops further into Ger
many. But at all events, it was sig
nificant that with only a few days to
elapse before the London gathering all
European public securities were more
or less depressed. French 8s. in par
ticular, made new low record at 97 3-4
All classes of United Kingdom bonds
were shaded a fraction. Belgian 8s
Were still inclined touroop, selling
around 98. On the other hand, an in
teresting counter-move took place in
Japanese 4s. For the first time these
bonds failed to sympathize with the
course of sterling exchange. With
sterling going down, they went' up a
point to 63 5-8.
Another exception in the public se
curities group was the- City of Paris 6s
but there a special cause was at work, t
The Paris 6s are acting precisely like
the Anglo-French bonds did shortly be
fore their retirement last year and
there is Uttl. doubt that the heavy and .
consistent buying which carried them
as high as 96 5-8 today is coming from
representatives of the French govern
ment The idea is, of course, to buy
up as many as possible in the open
market previous to their general re
tirement, j - ,
Italian l-2s were lower at 82. Mex
ican issues' were slightly better. Among
corporation bonds listed oil the board
there were no very sttartling features.
St. Louis and San Francisco incomes
were rather soft, off from 48 to 47 1-2.
Big Four 6s sold at 88 1-2, at which
figure they were down two points from
their recent high. Industrial bonds
were somewhat unsettled by the weak- '
ness in industrial shares.. , This Was
true of United. States Rubber, Virginia
Carolina Chemical, and Chile Cooper
bonds- among others, although in none
of these cases was there ?any important
weakness. , United States Realty deb
enture 5s which have been picked up
steadily, for months past, for account
of the company itself, sold at a new
high of 84. 7-8. ..These bonds mature in
1924 and it is reported that over half
of them have already been bought in on
company orders.
FEDERAL CONTROL OF
COAL STRICKEN OUT
Washington, Feb 24. AfterV strid
ing out practically all of the provi
sions for federal regulations of the
coal industry in emergencies and for
special taxation on excess profits, the
senate manufactures committee agreed
today unanimously to. report favorably
the Calder bill. ... -.
Chairman LaFollette : said the com
mittee report . would be - put into the
senate today, and other, members said
an 'yegort would be made to obtain
senate action at this session.
As revised, the measure would re
quire all coal mine operating' com
panies to report through the Federal
Trade Commission at regular intervals
the actual cost of mining coal and the
actual selling price. Other provisions
require reports on coal' stocks, and
ccar transportation " movements, to be
assembled through other government
bureaus. - . , . . .
.-The provisions stricken, out gave
the president power to declare s an
emergency in, coal supply, fix prices
control distribution and, if necessary,
to take over the mines and distributing
agencies.
ITALY PLEASED WITH
HUGHES' SELECTION
Rome, Feb. 23. Satisfaction with
the aDDnintmAnt nf nimrioa rr iTim-v..,.
as American Secretary of State, which
lejwrwa nere eany tnis week, -is
voiced by a number of newspapers,
which profess to see in Mr. Hughes a
friend of Italy.
, "The new Secretary of State," says
The Epocha, in commenting upon the
appointment, , "is a tried and en.thus
iastic friend of our country and has al
ways spoken appreciatively and af
feetionately af Italy."
The Tribuna today published a por
trait of Mr.- TTnirh oa on A eat4 '
, "-"v& oaiu CU1"
torially.' ;The appointment of Mr. .
"us"a leasun ior tne warmest
satisfaction, in -Italy, everybody feel
ing that from -It tho
" ' w. uiuiuai
friendship will be further strengthened,
naia xi luuasmjK Demg a sentiment deep
ly rooted, and : most, nonnlar in
country." . ; ... . ; ,i i
FAIRFAX HARRISON
GUEST OF CHESTER
Chester. 5? f! ' ITnK 'ij Lvi.
rison. president of the Southern Rail-
Way; is today the guest of the Chester
Chamber of Commerce.
In speaking about the financial condi
tion of the - fiaimtrv h aii that
thought the worst part of the, situation
naa oeep, pas,sea. )n: January, and that
from now. on there would be a gradual,
noticeable imnrovemftnt In the flnannial
eituafcion -of 'the coiintiy becoming about
woi-mai again mis rail; - -
He Wa.S shown the ditTeront ait nf
interest about this section, after which
he was tendered a ha.noiit-at th. Car
olina Inn. . This afternoon he addressed
tne Chamber ? of Commerce. He left
later for Columbia..
WAGE REDUCTION TO
AFFECT 25,000 MEN
" .'' - -
Pittsburg, Pa.rFeb. 24. A reduction
approximating 20 per cent in the pav
of all laborers of the Jones and Laugli
lin Steel Company will become effec
tive March- 1, it became known here
today.; Re-adjustments of the wagss
of tonrtage men in conformity with
the new labor scale also will be made
at the tfame time. . - -
Jones and Laughlin COmDanv. on
of the largest independent steel com
panies, employs in normal times about
29.000 men. The new rate of Day
will be 37 cents an hour, the present
rate being 46 cents an hour. About
49 per cent of the men employed in
steel mills are classed as laborers.
HUNDRED MILLION IS
ADDED FOR THE NAVY
Washington, Feb. 24 Carrying $100,
500,000 more than it did;as passed by
the house,: the annual naval appropria
tion bill was reported . today to U10
senate by the naval committee. Tha
largest single increase was $21,000,000
for enlisted men's pay, made : neces
sary by the provision for a . personnel
of 120,000 instead of 100,000, as pro
posed by the house. .
An added appropriation was one of
$15,000,000 for beginning work oh two
great airplane carriers. . , The aviation
fund was increased frbm $18,700,004
to be approximately I30.0QO.OOO,
il