THE CHARLOTTE NEWS, CHARLOTTE, N. C, THURSDAY AFTERNOON, JUNE 9, 1921.
. ..-...
GRAIN-
ARKET QUOTATIONS; FINANCIAL NEW
THE MOST COMPLETE MARKET PAGE PUBLISHED IN THE CAROLINAS.
EDITED BY STUART P. WEST
For 15 Years Financial Editor of The New York Globe. .
CURB
COTTON-
BONDS
LIVESTOCK-
TOCKS
PRICES HURT BY
OIL ttArUIiA 1AA
is qieels and Fertilizers
Lead in Slump of In
dustrials.
Rv Tl ART r. WEST
L-!"reVtT New York, June 9. The
iVaII i"'c .., ini.iirit in the news of
In.1
J
imPfs beaming upon the stock mar-
da!' d.,,0 unexpected announcement
the
i.t t nai .. .
LvfrniP '' - , tax 0n on exports so
l .i rai?a .... it i 9Kilv nosslble
oKll'.iative AVaU Street overrated
:"' ?r?rtamv of this announcement it
: f lpl' ,Vrriing that, comins upon a
not sufficiently sensitive, it
I ...oinl) -, ima hoinc fit
SCJ'a ' VlS..v disturbing effect.
;i5t 11 l a'n-ost overnight of 3 to
w; ,ip Mexican oils, the resurr
.-.. '...,innir in the steels a
of
esump-
. . . . - kJ I 1 1 I l kl 111 V I 1 V- wj.s.
and tne acute wetneoo
.::a:f! lf . -.tiiir companies, provid
ftock? formibale combination for
I,, i ri'f .' ... o.nii un against. There
& rrMT,..-,,. favorable development
I .'.. nne oeii"' . .oclnc of mnnov
I"' , , w tne iuiuin roi..a -
I .j that wlv i . HiIci u-.lr
ending loans are reduced:
He " , , k 1- per cent, as against
Li stood at p ' - VTrtTu1flv.
I 'lfr Ii'.xinc of the money market,
nild by depressing influ-
k. ".' .... .i.jv nevertheless set at
,s of t.ie
t: ..;,.inr which na
Viiarent failure of rates to re-
t.ir al .. ,mn,is trold imports and
ovatU of federal reserve ratio to
,,r ' ' to.ul two years usj.
. -1 i i v. . - a
.-.'t dl iinv vi- -
.i the eve of tne mm
TAW t'lf'l -
,l '.: ,t for crovernment in
f!5"tr- ' f0r the second installment ol
ter1 indicated that mere was
(J,,rai i, carirms about the recent
!'( of the local money supply.
"m i now fcPPear. was largely due
TS. '"Vnrtrv tie-up. of funds on
n tn . unnA svndicate under-
h0 inl the release of these sums
....-firs, una lutr.."v , .ai
k', prorrptly relieved suuh icna.w..
litre ivas.
Paragraphs
v WB STUART P. WEST,
stall Corninniiil.ni tw.
Copyrlirht 1021, by STerrg Pnblishln Co.
OIL SHARES.
Mexican Pptrnlonm v. ti
. --..w.vwui oliau ail-
American Petroleum tnoV hmir
from four to six points before en
countering any resistance at all. This
fhnl1.occurred within a half hour
2 efw the Pening and was occasioned
y me overnignt announcement of 25
Pr cnt Incrase In the tax nxei by
the Mexican government on oil ex-
yuris. inere had been a lot of fresh
Speculative hnvtno- In f r
u oleum yesterday and the day before
Li ,a,J"'e oi it came trom a crowd
which had been playinR the bear
side and picked out Mexican Pe
troleum as the logical thtng to buy
for a rally.
The stock thus purchased was hast
ily pitched over this morning and
tnere was the usual poor market in
u Pan-Americans when a rush of
selling came into them. On the other
hand the street reasoned, that if ttre
Mexican companies are forced to pay
tn,i havy extra tax, thev will be at
a disadvantage with oil concerns elsewhere.
1 he conclusion was that the news
f bullish for the American oils
and this was reflected In active buy
ing of Pacific Oil and a better market
for most of the other groups. The
resuiar aiviaend was declared on Cal
iu na Petroleum preferred but while
me ooara is said to favor the begin
us or Dividends on the common it
is hardly thought likely that any
thing will be done at the meeting
mucuuicj jor tomorrow.
TRADERS UP IN
AIR 0NC0TT0N
Uncertain Whether to Buy
or Sell in Narrow
Market.
EXDICOTT-JOIIXSOX
downward plunge in
Since the middle of May Endicott-John-son
sales have been running at a record
rate a rate twice as large as production.
This his brought about a condition whih
has called for heavy drafts on finished
Inventories. In 1920 the company expand
ed its plant capacity from 80,000 to 100,
500 pairs of shoes daily and will have an
ultimate capacity of 125,000. Current
operations are at the rate of 95,000 pairs
daily, the highest in the history of the
company.
The supply of hides on hand is report-
to oe ma largest on record also, and
s been acquired at the lowest prices
me oast tweventv veira. The cash nnsi
i no reiietnuu , r, I wmiiaiujr a. nine inure 1ua.11
? cetii..- - j almost wholly balances bank borrowings. The sta.te-
,TiU ,,..-ct-r of funds m connec-1 ment at the close of 1920 showed cash
e ;o. V, i p (German indemnity payments ot $5,888,000. Cash and receivables were
illiert governments disposed to $16,393,000. compared with total current
. ..v -ouences of this fall in, rates liabilities of $13,9o3,000. Inventory was
: :' X r iome trade and finance, they J14.60S.000, after write-down of 54,465,000
"u i. .in -rvrrcftion in their own durine the final six, months of the veor
huetnemea Net auick assets were over Sl7.oninno
rf-5- v.- -..cco i- ivoniri1 he or ts nnn nnn i
' nurchase of dollar exchange stock outstanding. With its low cost sup
1 nnd tlu ir policy SO as i ri i ijij ui nnica, unciuui.v appreuanoii is
A:;)!.':n (Achanges contributed to the d
of the day. although it Is ha
r , erfectlv well recognized that in
it oPi"'- ltir.r. imon foreiffll tin
L'sinp the PU
in rnritn r u i rnviro. r Arcv-icu iia an nil iui lclii l uhi l hi
.,.1 U in k O - . . - " . ' . - ' "
,,r s.i 70 s'teriinK i oarnmsrs tor th sprnn hair vnr aa
I ( V Li iivt Vv..- . " , I - - - '
By STUART P. WEST
Staff CurreniiondFiit of Tb Tfevra.
CriTTlrbt 1921. by Xew Publishing Co.
New York. June 9. The action of to
day's cotton market suggested that trad
ers were uncertain whether to buy on the
probability that British labor troubles
would soon be settled, or to sell on the
improvement in the crop. The latter fea
ture mignt have had more weight had
it not been for the crops very poor start,
and the fact that an improvement dur
ing June is by no means unusual and
is frequently followed by severe edterior-
atlon during July and A ugust.
A rumor that the British coal strike
had already been setlled pending official
confirmation on the basis of wages 20
per cent higher than the pre-war scale
v.as not confirmed or generally credited.
It had a tendency to check selling on
the weather news and the weakness of
foreien exchansre. however, and after
opening steady at an advance of five
points on July, but generally zto 12
points lower fluctuations were compar
atively narrow and irregular.
There appeared to be considerable July
for sale on the basis of 12.70 and the mar
ket met considerable southern selling
on bulees to 13.40 or above for October.
The price ot 12.70 ror juiy ana it.iv ior
October in the market here compares wun
middlink Quotations of 11.37 at NorioiK
11 cents at Augusta and down to lo.ou
at. Monta:omerv. In such southwestern
markets as Dallas middline closed last
night at 10.85. The comparisons would
succest shiDments of cotton here for de
llverv. and a little cotton is arriving
from day to day. 1 esteraay, ior in
stance, the local bureau inspected 51 J
bales and it is only the late month pre
miums perhaps, which prevents this iriD
ble of catton from the sjuth for break
ing the price of July contracts.
New Orleans reported that rumors
were circulating there late yesterday to
the effect that all avialable ocean room
had been booked for shipment trom uai
veston durine June and July to Ger
many and '.hat Savannah was inquiring
for rcom to Germany also. ineso te
ports were too indefinite to mean any
strong impression, uui mej yiuuauij
helped check speculative selling.
New York. June 9. Stocks of every
description were severely depressed
at the. opening of today's session.
The further collapse of foreien ex
change which forced London quotations
under $3.70 was one 01 tne disturbing
factors. Proposed heavy export tax on
Mexican oils was another unfavorable
development. Within the flrjt few
minutes or tne active trading Mexican
Petroleum registered a decline of 4
pionts and Pan-American Petroleum
ost 6 points. Other oils as well as
iteels. enuiomenta. motors, and ene-
cialtles were materially lower. United
States Steel fell nearly one point to
it 1-4. a new low quotation ior the
year.
Passing of the dividend on Interna
tional Agricultural preferred, was fol
lowed by a decline of 5 1-4 points. Mex
ican Petroleum extended its loss to 7
4 points and a wide variety of steels,
equipments, coppers and miscelhvieous
shares added l "to 2 points to their losses
of the morning.
Th- closing was heavy, sales approxi
mately S00.000 shares.
NEW VOltK STOCK LIST.
Last Sale.
Allic-Chalmers 32 1-2
American Beet Sugar 30 1-4
American Can . . 27 7-8
American Car & Foundry.. ..124
Ameifcan Hide & Leather pfd 50
American International uorp . ,
American Locimotive
American Smelting & Fef'g
CHARLOTTE COTTON.
Receipts today, 10 bales at
.11c
NEW YOUK COTTON.
Vatv vnrv .Time o. The cotton mar
ket opened steady at an advance of 5
roint on .Tulv hut generally 2 to 12
nnin louder n'wine to the weakness of
foreign exchange which offset higher
cables, and reports or generally suu
's S iit c"nt8 on the day and back it now appears quite certain that hide weather in the South. Active
i- tood in the early part of prices have definitely hit bottom. They sold 5 to 12 points below last -night s
The entire break occurred uhm- aumuceU some 20 per cent since closing after the call. Js
ii5 -.(inter ine h., hu?iness Anril 1 people were credited with buying on
ifore Wall Street had begun business April J. the decline to 13.38 for October, how-
r.fi later in me uaj - -
;tc"ivf-r - j;..:AnA on Interna-
rsir.: ot i" uihuci - -
BIG INTERESTS ACTIVE
ever, and orices steadied up on ru
mors that there had been a settlement
of the British coal strike. uctODe
4al' 'Agricultural Chemical preferred One of the market letters sent out so n advanced to 13.43 or' within a
, ,ni...ci u in the alfnCul-I hv a laree. Krnaiiuav wire, hous this I Yi. :-v,t-' lnclnir Tradprs
rv( W riiii'""-"- y , t I . f . i V I uuiui Ul last. iie4l- -
.nr.,n fs doing DUSl- I mnrn nor hefore the nncmn? of himnpss I . i u n fniu- rrar i t the
eXi"-Titrvjcu " . -w ..... . i o , --'o - . 7 I were nut un-uncu lm
' .1, ocrrinltiiral sections, O'' said that bie interests are interested nli?niich uhp i-nmor nendlnar eonfir-
t"fi"Tlt ft tne neltBBIlJ ' I lire min tAiwn uii iiuv 1 mallOJl, DUl 11 UUCC&CU scums ou .on.
te"l't crt-uiis. riuwcvcii - r tLJC; ic j . j-iiio co.i b me 1 tne niaritei sensitive tv wta.i t
sman Duymg oraers.
Tnter advices from Liverpool de
not obviated the necessity came into the market on Tuesday and I nied that the coal strike had been
m 'iMTi prices in the last month has statements which have been made here
ianV ibf situation somewhat easier, al- for several days that the buying which
r,t ohviated the necessity came into the market on Tuesday and
,7.',,, Hke the fertilizer producers again yesterday in certain issues was of settled but all reports indicated op
01 ... rvaVors conserving I thn vnrv hfst. timism over the orosnect for ai
and tie 1 nonital. TSio- l,anl-inir intorocto a r alwai-K ro. learlv azrPMieilt Oil the labor troubles
Te b-eak in the cnemicai snmco porieu to nave .torn ineir irie:iua umi " u j me " ii. j ?
. n riMiv lows ooin ior now wna thp time to huv chean stocven. I QunnK tiie iniuuie ni tne uaj. v""
v r nd lat and the same was tn referring to the weakness in the steels, siderable July was sold around. 12.60
of a "nurPber of the steel stocks, the same letter quoted above said. 'Un- or about - 3 points net - lower, .bnt i
' ,X -h'tern was again a ca of 'he fortunately, because of the popularity of was taken partly against sales oi
- j t .Dnnnm to thlS ih,. ,i,ol-r,0c! In h& itls -urViinVi nnminv De.S.B W8S qUIl.
ivrv TTlfltiel ULC l ill'.. ntnuv0o ill w 3vwij . a...
vc'-' " . j:.. s.tlmllSII .1.. M , j V., .
or.iv a
Kvere drop in
X- jrH.nl intiAM 4 Ar a1 din'inOT
in etlmates .u s v l .,in., I O nesxi tca.tuico " 'UF'u
me conuitiun ie tuictiunt wi. tne Uca.i iwiau vc i the early afternoon and general bus
utuiuiau- lnoo5 rtmO ln6rt nillpf with iiftoner rill
' . n . .Itw-.. J - - . I W - 1I1K Al UUI1U 1 tl.TV V I Lll'U U L L 1.
r m thf nortivvvesi uuuseu . I . I noints net lower.
tm The government figures luriiisueu ALLIS-CHALMERS. l,0K xrjW VOPK FUTURES.
ttxt tor soiling vne ""' i i jew Yoric. June xne cotton marKet
Wall Street
Grain Market Hi
Live Stock
Curb Market 1
30
82 1-8
37 3-4
77 3-8
0 1 3-8
CoBTTlirh 1921.brXcw Pnhllitlilnir Co. CoDSTlcrht 1021.brfew PuhHKfctn Co. By STUART I. WEST.
I Staff C'orrexBondent of The Sfcw.
OVl ifl u-n TunA fl Tl ...nn -n vi-ll 1 1 1 1 t ,,( . a 4 . . . la-. f Atf. ' Y .
vuiv&hui wuiiD i'. 1 - v . a wn .wun I i ninn isrnpir varni. t nipaern .inrm '. - I 1.1111 I ik hi iii-ji. ,1 .irii 3 uiiiixtiinK
market In wheat after the firBt hour In " nmlrr.itB,t fir.t of .win New T"ork, June 8. Business In the T
of trntHnsr todav. ThP w mnrh whoat iMreass accumulated, receipts of swine m.fW t tiif- .opmHii.. t.v'1
t-oia on me eariy ouigd on resting or-i"11" ia.u, ween icu uyun iw ;vrrtu as sman. Alter a oriel penoa or
ders but housee with eastern connec- days to break the market finally forced steadiness In the early dealings, the
tions continued to pick up the wheat in the turn today, though the market show-(list generally developed heaviness.!
an unostentatious wav and at the end ed great activity at the decline. indl-Jln the. Industrial eront) Union Carbide-.
of the hrst hcur the market developed eating a broad outlet for. the product, was aVain under presure, selling oft
i 1 Jill . . M i I I Pnnbafa - ilr9 .f.vB f infn.. HinQla, I .ViAllf o Yvr.lv. On nl.lr T f I. f
ix (JVllgeoteU CUllUltlOn ttlltl tXllo lurccu i o-i-ido iiuu viucib vn a 111 v.ip, i Aivut i iwiiit. vii lauij uuciai vnci-
manv ahnrfa to nnwr r-oiininp- a fsham I without makintr & serious attemnt to fol- ings. Inter-contlnental rubber reco-ied
bulge. September was under preptmro low up the initial decline-with a further fractionally. British-American Tobac-;
early out that delivery loiiowed wneu I aiiacn upon prices. . i - nu acuw uiuvcb ruiwi aooui.
July advanced. The crop figures were Receipts were 8,000 cattle, 6,000 calves, steady. Glen Alden Coal Delaware,
regarded as sensationally bullish and they 37,000 hogs, and 14,000 heep. Lackawana and Western rights and,
v, ni yv,,.v. n rv.a Vmvinir a KattoY- tona win nnnrunt in tha pni. I (leading rights were tractlcallv lie--
The east was forwarded many market tie market at the outset of the session Eleta- TFttet 8,tateB Steamship and.
items, most of which were disregarded, uue to ngnt receipts mrougnoui ine coun i i .u..wuniiS - c umct auu
Among the principal of these was the re- try. Local arrivals of 8,000 were 4.000 un?,a?' ,,
j ....i.. i. T-)nti. i yv.iv. I citYif aa Thu.iiiUv'c v., v. u iYita witn lew exceptions oils eener&llv
liurieu settienieiit ui tne iii uisu wai mini- onvi i "i. max i. imi ouaj i un -v -w v--..vn 1,,, . ; ... , u "
trs etrike and a threatened strike aa higher prices, Mixed yearlings weighing Jy VrSfY. ni?f 2L,,iv?ui i?ifc,'i,
the resulc of the reduction of wages which 755 pounds topped at $9, while cattle SK:,'Vnv lViVL
e-oaa into ffprt nevrt month. Foreitm ex- weienmg over 1.300 pounds snowing ex- i .nx. "-.- '""
changehowed further decline which han cciltnt finish brought $8.80.
within narrow limits. Zapata perfer-:
-i i 1 red was rather activelv Vione-hf- Kfmma
dicapped exporters. Clash permiums were uuns were m goou request ai nrra p.aroleum after parlv iin3inH Vi a
unchanged. Continued wet weather in prices and the big run of vealers met Ie gymoathv with f he remain
the southwest is causing some apprehen- with a ready response from practically of the list rcmam ;
5 ... all of tho lfillara Vrinaa wr main. " i, "l ,H1C i!?u . . - -
Biuii. I - " - 1 jvierriTT 1 11 1 anrt n-1 lj- Kaoin am-
corn was inclined, to drag most of the tained at steady levels and good vealers 8tfe2dy and about unchanged In tha 1
ion, although the bulge in wneat save sow generally at .ov to iu. 1 standard Oil group. Anisrlo-American
market a little rally later. Hedging ! In addition to a. fresh run of 37.000 a&ain attracteci cVnsiderable mentloS
liberal recemts and a Slow cas:i nogs mere was a siaie buijiuv ui neai iy 1 with ulitrhtlv lnwar i.vi
sessiei
the
nressu re.
demand aro depressing tactors. mere is a.vku. jr-ac.ters receivea ..suu lroiu um-1 frice movements In the mining,
little incentive to buy and tne principal siue. sources dui were in a i.osiiiau w 1 snares were Irregular, with r, fair.
support is in the way or snort covering continue iuu operation 01 tneir yuuim. 1 amounr or business being transacted
for tirofits. Exnorters refused to bid for Opening trade set the pace for the day especially In the low nrteed i.n '
corn today and The domestic aemana was ?na prices were 11 to au cents lower 01. auroKa vroesus was In suply anl1
slow. Cash basis was 1-4 cent mgner. tne ranic ana me, wim toypy .-igni. outca 1 uiuKe snarpiy. iioston ana MMontana--
Oats were easier. Fressure irom casn ers at .2t ana tne general nunc or continued steady.
.Lnere was very little business in
uonas- wun irregular price changes.
American - Sugar
A mord-an Knniatra Tobacf-n
American T. & T. 104 3-3 ! Interests was a factor. There was some stuff at $7.65 to 08.15. Pigs were in
American . Woolen .. ..... .. 73 1-4 buving later In sympathy with the wheat good call at slightly lower prices.
Anaconda Copper 37 3-8 1 imlere. The crou renort was regarded Lack of outside competition, consign
Atchison 79 d-4 1 as snowing a bigger vield than anticipat-1 ment ot s,oo lambs direct to Killers
Atl., Gulf & W. Indies .. .. 82 1-2 ed. Cash oats basis was unchanged. and general slackening of consumptive
Baldwin Locimotive
Baltimore & Ohio .. ....
Bethlehem Steel "B" . .
Canadian Pacific
Central Leather
Chandler Motors
Chesapeake & Ohio . . . .
.-1 .1 L' 1 Tl .. . . 1
i-llicago, mil, anil si. ruui
Chicago, H. I. & Pac. . .
Chino Copper
Colorado Fuel & Iron . .
Corn Products . . ....
Crucible Steel, . . .... . .
cuga cane sugar . . . .
Erie
General Electric . . ....
Genreal Motors
Goodrich Co.
Great Northern pfd
Great Northern Ore Ctfs
Illinois Central
Inspiration Copper . .
int. Mer. Marine ptd
International Paper
Kennecott Copper
Louisville & Nashville . .
Maxwell Motors
Mexican Pearoleum . . . .
Miami Copper
Middle States Oil
Midvale
Missouri Pacific
New York Central
N. Y. N. H. and Hartford . .
Norfolk & Western
Northern Pacific
Invincible Oil . r
Oklahoma Prod & Ref
Pan American Petroleum . .
Pennsylvania
Peoples Gas
Pittsburgh and West Va. . . .
Ray Consolidated Copper . . .
Reading
76 I Prnvisiona wrf easier early with higs I demand for mutton forced further re-
37 3-4 I and on Rfllinsr bv cash interests. On cessions in sheep an d lamb values. Good
52 1-8 J tne break there v. as some buying of July lambs were otf 50 cents and some grades
11 Iiar-d iv Miiiwa.ukaa. nac.kers while longs I suffered only a 25 cent cut. Native
. - . . . . j : v. ... 1 . : . u CIO -T n . . 1 : . . . 1 1 -,-r
SOld It. lne iXiarKei railieu w itn giam. I iijunscis uiuugui i'.m ouu t-nuvcu ovuvo.
i. 2d. Aged muttons were generally
CONDOLENCE TO
MRS. GALBRAtTH
. 36
. 59 1-8
. 53 3-4
2(5 1-3
. 31.
. 24
. b26 1-2
. 61 1-2
6 1-2
. 12
. 13
. . 128 1-2
9 7-8
. . 34 1-8
. . 66 3-4
. . 27 1-2
. . 89 3-4
. . 32 1-2
. . 19 1-4
. . 57 1-4
. . 19
.bl03
seinng at Hornets Nest Post of Amer
ican Legion Wires Mrs.
Galbraith Its Sympathy.
T,iT q tvhdQt tnnif a I Quarter lower. California ewes
,iiiir.mw9rH cwnne in value today .o to n wnue natives couiu ue uau
v.v-v. -f. e I nt.A1n..i fi or
S a lrJSUlt Ol tne DUlln aspect ui nuiuiu Vi.i.u.
the government crop report. Weak- I -
ness of foreign exchange, however, and CHICAGO LIVESTOCK.
declines in the stock market tendeu Chicago, June 9. Beef steers and
o check buying, rraae was active anu iat sne siock strong - to 10 cents Members Of Hornets IMft Pnt "NTo
flToY4na r-oriid HnnnTir 'iripas VH- I hie-her- ton t-anrlino-a Qrtft- inn nnHvi. . ilJIIloei S Ol nOmeiS IeSt I OSt INO.
yidiI fpnni 1 1 9 to 3 1-2 cents hizher. steors 'ss.v huiir 7 Rd 'to' RRi- hniu or the American Legion learned with
Corn oDened unchanged to t-s cents butcher cows and heifers 5.00 to 7.00: 1 regret Anursaay morning Ol tne aeatn
higher. ' j bulls and veal calves steady; bologna I of Col. F. W. Galbraith, national com-
oats prices started i- cent on to i ouns largely 4.00 to t.to; Dutcners 0.00 1 manfler of the American Legion in the
1-2 cent up. . . , , to 6.50; bulk veal calves 9.26 to 9.75; automobile accident at Tndiannnolia
Lower quotations on nogs acted as a canners and cutters, stockers and reed- Pnt r:alhraltn h. tv,a i.'
ers auii. 1 r "-j
Hoes: Active and 10 to 20 cent auditorium February 24 under the aus-
lower than yesterday's average; heavy I pices of Hornets Nest, Post No. 9 in
m i Y f 1 off Inn C t ton S ' t - Kullr 7 11 1 I nnnnAAtlnn ii-.f Vi n nmAl. v..n 1 U....nU
welcht on orovisions
Wheat ciosea unsettiea x- to cents
net higher.
cent net decline.
139 1-1
21
11 1-
24 3-4
20
68 1-S
68 3-4
14
1 7
52
34 3-8
28 3-8
28 3-8
12 5-
67 1-4
Corn closed nervous at 5-8a3-4 to 1 j mixed off least; top 8.25; bulk 7.95 J connection with a week.s trip through
to o.iv. pigs sieauy iu cents lower. I North and South Carolina. He was
Soft's SwTrf sfJr lo ? fav.or of hospitalization and
top native springs 12.75; . bulk 12.00 I "'"i"""" i1 miwrcu cuiuicib ji
to 12.50; chioce dry fed 96-pound I the Great War and presented the cause
lambs 11.25; California ewes 4.75 to 1 so ably that he probably won most
r Aft. Lull. w..v:.y. a ,.y n r i a in- I m . .
u.vu, um& native ewes o.ou to ioi nis nearers to nis view.
The following telegram of conddl-
ence was sent by A. J. Beall, command-
er of Hornets Nest Post No. 9, of the
legion, to Mrs. Galbraith at her home
in Cincinnati, Ohio, on behalf of the
J members of the local post:
Charlotte, N. C.. June 9, 1921.
Mrs. F. W. Galbraith. Cincinnati, Ohio:
Members of Hornets Nest Post No. 9
of the American Legion, here, wish to
CHICAGO CASK GRAW- x
Chicago, June 9. Wheat, No. 2 red
158 to 161 1-4 ; No. hard 164 1-4.
Corn, No. 2 mixed 61 to 62 ; No. & yel
low 61 to 61 1-2.
Oats. No. 2 white 37 1-4 to 38; Iso. 3
17 1-4 white 36 1-4 to 37.
93 3-4 Rye, No. 2, 141.
Barley 5 to 67.
Timothyseed, 4.50 to 6.00.
Cloverseed, 13.00 to 18.00.
Pork, nominal.
Lard, 9.60.
Ribs, 9.50 to 10.50.
,1
Bond Market
pfd
Rep. Iron & Steel 48 3-8 WHEAT
Royal Dutch, N. Y. ..
Shell Trans & Trad ..
Sinclair Con. Oil ....
Southern Pacific ...
Southern Railway . . . .
Standard Oil of N. J.,
Studebaker Corporation
Tennessee Copper . .
Texas Co. . . ......
Texas & Pacific . . . .
Tobacco Products .. ..
Transcontinental Oil . . .
Union Pacific
IT. S. Food Products . .
U. S. Retail Stores . .
U. S. Ind. Alcohol . . .
United States Rubber ,
United States Steel
Utah Copper
Westinbhouse Electric . .
Willv's Overland . .
Pure Oil 29 3-8
CHICAGO GRAIN AND PROUXJCE.
ji ...... 1 ...... . 1 ri n A
V p 311 iilgu i.u wvav
By STUART P. WEST. -Staff
Correspondent of Tn Nem.
Copyright 1921, by News Publishing Co
56 July.
43- Sept.
20 7-8 COUN
72 5-8 July'
1 f 7-8 1 Sept.
i or a.s I OATf
70 Juiy
o epi.
23 2-4 r-UtV
21 1-2
55 1-4
8
116
12 5 8
55 1-2
60
5 7 1-4
76 3-4
48 3-8
45
7 1-2
July
LARD
..ily-.
Sept. ,
niBs
July
Sept. .
134 140 133V2 124
118 122 116 i 117V4
. 63 63 61 ff2
64 64 . 62 63
. 38 38 37 3J
. 39 40 38 39
17.50 17.60 17.50 17.50
9.75 9.77 9.65 9.75
10.05 10.10 9.97 l'J.07
10!l5
10.25 10.40 10.20 10.40
New York. June 9. At the onenlng I express to you their deep sympathy
01 tne dooks ror tne new $41, 800,000 1 irr this hour of your bereavement.
(Signed) A. J. BEALL, Post Com-
receipt of a sinsrle syndicate did for
the entire issue at 100.26. Stipulation
was made in this case, as well aa in.
the other bids, which included the
MOTION FOR CHANGE
rnation of the legality of the bonus !
Florence, Ala., June 9. A motion
n On the second day of the offering I for a chanee of venue was denied F.
9.4 of $500,000,000 United States treasury ru o , ,v!L7 twf Jo ,.1,1 on
l'J.07 notes and certificates the reports still hlt ,when he ,waS P1,' ?n
KNOW WHEREABOUTS
LORD MAYOR OF CORK
som-
i-ret
The Allis-Chalmers report for the I closed steady:
.... .... 11- ..-OC .kTltt H HCLCAk.
l,iit;cs uui. it .. aViftvii I niiio-vuaiHivi q i vu iwi niv
v . , , . -;r.itui1 narVPSL WCll Avfll ai.-y.Yay nhmirnH yi&Y nfffls ftfta
i Ull all roi.iliicvi.s.1 - -threat l"101- 4UH1 vi onwn vu 11c t iiviiLO aiisi 1
lis iveiace tnere is no i"""" " r taxes 01 iri.isa wnicn was equal to juiy
. 1 ..iiu'ov tnnnase. A ti 00 n nu v. u. oc Tsn rr I .k-
: x R.a:tr of tact, the railroads, along 1 eommon stock outstanding. This com-I December
with nil other business interea.t in pared witn earnings or ?b7,2i4 in the January
rrh-d r rt sine "statf-f, are mui 1 same quarter last year, 01 Ti.si u 1 Marcn
0-ort
13.70v
13.45
13.92
14.00
13.34
F'srh
12.70
13.47
13.92
14.01
14.35
Lov
12.55
13.3$
13.85
13.93
14.28
12.5
13.36
13.96
13.9B
14.29
,...,! m.. nrorYress maeu towaiu iiyi 1 share on tne common. The total ot un- ww ypuk pur i inTON.
fn-ic.s thyn thtv are by the 51,000.- I filled orders showed a decrease of I New York. June 9. Spot cotton quiet,
" i.us'iel reduction in the crop slightly more than $6,000,000. It stoo-l middling 1270.
Ci'Ti rrnn- th month ot .May. - at i3,j,uuu against over i,uuu,uou
ruder' the test afforded by the great in the same quarter in 1920. However
wl.cn. in a few sroups of stocks and I the sales billed in the first quarter
. - - - - . t 0 at 1 -m 1 (i n ,
lly unfavorame c"" y- "
Atlantic Coast Line
Coca Cola
Gulf States Steel
Seaboard Air Line . . . .
ss. Shef. Steel & Iron
I ted Fruit . .
;inia faro. Chem. .
American Tobacco . .
An sir lean Zinc
General Asphalt . . . .
by the generally
EV ORLEANS COTTON.
New Orleans. Jbne 9. Reports that
the British coal strike had been set
tled caused a rise of 2 to 5 points
in the early trading in cotton toaay
hut moderately heavy offerings came
on the r.irket at this slight advance,
especially in July, and values receded
new
were in excess of those billed
the Ja. t'-.ere were part 01 me .4'"" y B"SUUJ'. ucu':'
list which save a very goou account .
Mt ttrf.no- Un,i th entire group ut
. 1 ... , . . rnlilinn - I Y Y W -YV - "W T , . "W "
isvm Pnr-ifie Oil was ummi-"- rvifi 111 1X1 f ' H : W IVIVWIKIWV
..'.f" -ilo .tnnrl lin Well. deS- AVf UUXUiJU X1X1.UXJUXOX
pntcu .-miii 1ca.11 uu o"" - "',. 1,
;. .,n,.m.rt or anotnei v;u-
imc un; iiiwuiitviii.ui 1 m m 11 1 nrinrri 1 ni nn ::iu. c o iY,ta
sasnlino nricfxi -w i active uiuutns vveie i " f"'""
Amrriean wiinl Central Leather. Cor;; under the close of yesterday. July
Bine.rAcan . ? rS"l roY.H studebaker T , : traded un to 12.25 and fell off to 12.15.
7h t i how strong resistance , aavannan, a., JUn ,.--xnw i "weakness in the stock market held
to he 0t5eHiY.J eSwhere Ihe rate in longer any mystery about the ''serpent ices down in lhe face of continued ru-
pk rail fnlnf ot down to 6 per cent in tomb," in Colonial cemetery, that has mors of the settlement of the coal strike,
r.w can loans got nowii t , . i .. j tu -nr riu i cot in nrl
ii.. i... i . j . . iAnY thic nnane buiiivj i nuuieti in irKcuua aiiti tctio ui cai i. r out i iiirf.ii cx iu . i :. k i
i::!i. J.ur .. " . ctnrk mar.l Sovann-ih iifB fnr mnrB than a pptitiin-. I at 11 o'clock the trading months were
H which had an irregular recovery. The mystery has been solved by the 2 to 3 points under Jhe last quotations of
cutting into the marble the name of the rs Vefv stlady on Reports from fei-
person in wnose memory n was ereci- that in many sections of that state
ea. it rests over me lenictiuo ui the boll weevil was present in great num
kinsman of Theodore Roosevelt. Ihra.
The insrrintion iust nlaced on the 'i he afternoon trading brought only
mnm.ment ovs- "At-phihald Rnllnch. I narrow nuctuations. lowara tne cio&e
.n.....-...v ovj. . .....lv. 1 ,e
first president of Georgia. 177M777. P J';.; '
Born in South Carolina. 1730, died in iW ORtBAWS FUTURES.
Savannah 1777. Patriot, soldier, states N Orleans. June 9. The cotton
man. Georgians let the memory cf I market closed steady at net declines
Archibald Bulloch live In your breasts. I or 8 to id points:
. . 1.1UHAH r V.lvv nmrl I . 1 I 11UCII JX1I1 I Jl I Y V1VM
ien your muxi, " J.ilv. . ..1.24 12.25 12.15 12.15
others tell anoiner generation. ot" 1307 13.08 12.90 12.90
Until this inscription was cut, tno 1
monument consisted of an obelisk 5 2 iw . . . 13.48 13.43 1334
v i yyVi with a annU-o m r.ircii;n.r .Tan '13.68 13. 6J ISbb lo&O
"".. . r t in-? 1000 -loon i9ca
v., n ,.!, cido h.nrn Riiaiffi was aiarcu .. .. xo.ai 10.00 to.ow i.ov
u" v" .m : I " iV new Orleans spot cotton
in tne act ot swaiiuwiuB hku. x Orleans. June 9. Snot cotton
i r steady and unchanged; sales on the spot
ATA THINE GUNS USED M60 bales, to arrive 80.
lU-tt-VXXir Hi vlUlP KJ kjxj 1 rv,i,-irtiinrY inn middling 1150 : eood
CUlCAUt rOTATOBS.
ChWpn. June 9. Potatoes,
easier ; oil firm.
Northern write 80 to 90 cwt.
Virginia. f..00 barrel.
North Carolina 4.50 barrel.
SILVER.
York, June 9. Par silver,
mystic 'j'.i 1-4; foreign 57 3-8.
Mexican dollars 43 7-8.
do
rnirtr:n PROVISIONS.
Chifaeo. .l.ine 9. Butter easier;
"wtniery firsts 25 to 30.
E22-8 imnl.'i n trail
. Pouitrv. alivf. hi'eher: fOWlS 23 1-2',
oilers to 45.
(1 i:in Mtllk'P.T.
Kew York, June 9. Raw sugar weak
" 'iual to i?. dntv nald.
...f.Orintd vnarjir nnrhan seed at from
b-!' to 830 for fine granulated.
. XEW YORK inoVISIONS.
York. June. 9. Butter easier;
famery. firsts 28 t-2a31 1-2.
IN BARRICADE FIGHT m5J2gtslS4
322 ; stock 456,198.
Toledo, Ohio, June 9. Thomas Kel-
1.IVERPOOL COTTON.
.a -vi-l v.nvv.n Yi.aa 1lllnfl n-v I ' I T iirarYir.nl TntiA Q Snot rftttntl. lim-
p insio i--dvi m. . I IPV 18. VL KlCtllVJllJX, tlBU i.... UIUUJIU"'! v...v y f - -----
5 W '"esular; fresh gathered firsts morninK following a battle Red demand; prices steady; good m d-
"ais,
bre:
-a27 1:2. " "u- ul two hours and In dllng 8.78; fully middling 8.38; mid-
steady; state, whole milk, which had lted two hemrs an cl 1. n low middling 6.73; good
average riin 14 l-2al5 1-4. which machine guns and hand gren- ordlnary 5-48; ordinary 4.73.
' Donitrv stadv hmilers 32a50. odea had been used to dislodge him sales 3.000 bales, including 2,600
sse'l iiuiet. fowls 24a35. I from his harricaded room in the attic I American; receipts 1,000 bales, no
from his barricaded room in the attic j American; receipts
of his boarding house at tn wainui American.
June 8.18;
rDtmr n . rY-r-i-n 01 1UB Futures closed steady.
vnaw K)t bUU-UHAOrilt setr- . - trnBOu wflfl vnied KelW J'y 8-35- October 8.73; January 8.93;
ROTTPtt urrmTT ATvTmTTTo Before : her. himsell f was ked Keiiey March 902. May 9-09
vjh niin Aiiuiiupiv
, Miami, Fla.. June 9. Sub-chaser No
- 0. r I . . . 1 . . 1 . r
83 B
27
31
5 7-8B
36
106 1-2
Washington. June 9. Definite infor
mation regarding the whereabouts ani
plans of Donal O'Callaghan, lord may-
v ri-.Y.ir hao noon nirnisnwi Tn Tne
Ul Ul lint. .1 "r.T . - TA., 11V.Y,. v, 1
j 1 1 Kv. V.-.T n'f'o OO'iari'c I J 0 "ooiuu, xtrun-v IIUC1 IV a.nu Ylt.-
aeya.1 tment ui j ZZr a torys were steady and very little
were that these were going very well trial here today on -a cnarge or murner
and. what was esneeiallv imnortant
tne aeuianu lavureu tne tnree years 1 bride on May 10.
5 3-4 per cent notes rather than the judge Almon, after overruling the ,
mdebtedness V certmcates ot moti0ri announced that nobody would
It is too early to argue from this admitted to trie courtroom uunng me .
the complete success of the govern- trial except court attaches, witnesses
meat's plan for meeting the short term and newspaper men.
obligation. But the results so far are tv,,, mntiiotori hn of Tra Renv was "
X i'V' 1X1 UVlttLVU w'viijr ui ' ' - J
found on thei ' niitRkirts of Florence at
ine new nnancmg appeared to have I ,1 . r. 1 i i, v. i
expended its effect upon the market midnight, six hours after she left the
for government war bonds in yester- home of her father to take a walk with
her husband. '
When arraigned on May 25, attor- !
28 3- attorneys, ', tt v cnanged. Much interest was taken in ont.rori 1a "not e-nil- I
w 1 . :
121 1-4 ning said today, but "in the interest of the movement of Mexican lsues in view
8 1-4 MiiFtice the department is pouna 10 or. tneannouncement by tne Mexican
" 1 . . 1 . . . j . 1
presiuent mat ine yroieeus 01 tne
extra zo per cent tax on oil shipments
ty by reason of insanity.
00 1-4 I i-Acn it nrivntp
.Y,. nna will flinn 3111.'
Mr. He.v
NAVAt, STORES.
Kavannah. June 9. Turpentine firm I are made known
55 1-4 to 55 1-2; sales jv ; receipts
A-rn ohinmpnts 15 : stock 7.29o.
Rosin firm ; sales 900 ; receipts 766 ;
shipments 35; stock; 76.474 Quote : j. i
37 0: 13 r 3 tv to to, J o w oi "
to 90 ; 1 395 to 400; K 425 to 40 : M . 490 ;
N 540 ; WG 600 to iu ; w dip ij
. " - . ,r. : u vvere to go
ning sam, wnen tn ictcto in tne . on
! HOPE TO HAVE FREE
CLINIC BY NEXT FALL i
OVERSEAS TRADE TO
GET CONSIDERATION
?lVrZ th-;' Coerce 11151? 'u5.,r chairman of the local chapter, said t
i TT- T-T I iiwuvi. iici-a - - . iUuaJ. xucy nciu nun ttiuuirj tne it i I t)l.i tU.-, nrcro n i 79 1 ion din not realize t
VTm.PVNTT RREAK IN Deoartmenfs foreign representatives levei. Other Belgian and French is- that ??"JZ?"
' . . . x WacWnfftnn to di?r-iiRR the sues were miotpd thft same as veSter- a sum suuiucni tu wiaiii
FOREIGN EXCHAN 1 tf"?"? Tlfit S.V"""' he,d
June 9. Secretary
to the interest payments
the government loans,
It might have seemed that this
would have had a stimulating effect
upon the Mexican 5s and 4s, but as a
matter of fact it did not. The 5s, which
closed yesterday at 48 1-2, sold this
i-iinrninp- at 48 Th- Rule-inn Ce of 111');
which have been going down with tor wnicn it nas ueen wuinms i
the decline in franc exchange, were I about two years. H. P. Harding, j
The local chabter of the Junior Red 1
Cross hopes to have sufficient funds by I
fall to estabjish the free dental clinic
,i. ..
!in- X. Y m'raA into' nort he threatened
' ' W-O ,J T UltV JV"-" ----- - I .
,. 'yesterday, the crew bringing a
"2 of an attack at sea during which
5, t which without warning, put a
i f across the bow and ordered it to
shot and killed Patrolmen Harry Do-v
u ond T-rarnid Mossoerger, wnu unu 1 jinVCT fST EXCHANGE.
ky, oaiiod tr the house to suoaue nini 1 prime mercantile paper ,t- xo 4.
drtr be had refused to pay a board Exchange heavy ; sterling 60 day bills
bill and had nourisnea rr.ViM
atened his lanaiaay, g' 3.4; caaw 373 1-2.
i-'rancs, aemanu is, aioics a-j.
Belgian francs, demand 783, cables 788.
Guilders, demand 3290, cables 3300.
Lire, demand 475. cables 477.
Marks, demand 148, cables 14.
Irpene. demand 60' : Sweden, il'.mand
2200 .Norway, aemanu xa., .-ustouuc,
. ...... . t. ; v. 1 av n n.l ' A A
Key, and hereon, Allen.
nat?aW WEEK'S CASUALTIES
GREATLY INCREASE
lhe crew of the Tec was said to
5 Warded the 205, ripped up hatch- , Dublin June 9. (By the Associatad .nand 3112 : Braxiiian, -demand Ii!00 ;
Aro. i tors toaay icwtntcv . i. ,i .....
;;edinff by train from Traiee, county
to,?" enneth Brown, Jr., in com- ceding by train from 1 rf ' v." . i Time loans firm: 60 days, 90 fiays, 6
i." " ui the Tpp whinh rnit in hpi-n I ., to if mnrntv. were aniuuBiiw, . -,-t
- ... ... T'T AUi ' Viir' l.-lllfld and muutlio . 11 .-v"v.
to have stated that and that one soldier was killed anti Call m0ney easier, ru
if stolen government three of the attackers were seen to .ai:. bank acceptances 6 1-2.
v. "'8nt, is said
Wis i . .
t.. ' ui sparrn or etn an irrtvprnTtlffm l n
vnjPeny when hft halt( fh. 205. Tu.. ffirial weekly review today re-
l-j o moritAfi increaee in t vwci
ruling rate 6 1.2 :
LIBERTY poNns
MALLORY WINS
IN LADIES' SINGLES
p.0,.i.. .
th ien,?am. Kent. Eng.. June 9. (By
st0,n Related Presal Mrs. Molia Blur-
'UL f.Till . " . - 1 - -
,MniD nn "i" : . " "vw " 5 oi apt cultural u;orparitiuii X7a,bt Tftru jun 9. 'ine
' "-"i. UPICa TCirl Ml ma f I tVl !lnt I T1 M.LiUllO.1 -0 ---rt-- Z J i-Yw j. - r r ' .
in k:Tv,u. r i"v; iT mittd its dividend on Preru mirket closed .steady. r
v. CasimM .- -e-.tr Tnna o TJhertv bonds clos-
tivitv inruuKiiuui. .Hv x-w-.v-- . i t: w iuiv, v..w v.- -v - ,
mmethe crown forces amounted ed 3 1.2s 88.14 ; first 4s 87.90 ; second
record of a week since 1916. -4s 7.o . jory 3 3.4 98.40 . victory 4
I S-S 3v.U. (
P'VIDENP OMITTED.
VnrU. June ine
Inter
in
:,Jwth
COTTONSEEn Oil
cotton seea 011
rime summer
, Mi,
tne ladies' singles in the day Om"?u. ,.-ci.h re- f?J!f-,2n XimTcrude 560. bid. June
nrl YV. . . ,.r.t I BtnoLr In OrUUl : tu.i.v-T-. - - J-"". ! i - c.r.l.n.W
mirket closed
uivg M1S1E ' I ' . n, .ncI'V-c l'S Mil 1 c- ...1 nu! 71 1 TI
ound of the tennis tournarrter.t stock in tne company.. 740 : July -7B0 ; .August ' 750
, nvuwiu" heon ri nnhur 780 : November 1
"V.. .4"6. 6-1.
sources.
s. according w . rrC ' : n Tnvmhr' 78(1 : Decem-
4 Elizabeth Rvan. of California, Since July, 1918, tM vwe iTirwui 5.700.
DEATHS -FI3NERAI.S
MILTON SMELLINGS.
Denver. Colo.. June 9. Milton Smeli
ings, national president of the Steam
' 3 vin- Wne-inpsrs' Union of
M rill I iiirfi n.Liiii. -.. -7-- - .
Washington, D. C, who was in Denver
as a delegate to tne American rtur
eration of Labor convention, was found
dead in bed at a local notei ims muiu
ing.
rniiivRii WILLIAM HESTER.
New York, June 9. Colonel William
Hester, president of The Brooklyn
Daily Eagle, died today at his home
in Tirontrivn. He was born in Pougn-
keepsie 86 years ago and entered Tne
Eagle office when he was a boy, serv-itip-
under his uncle, Isaac Van An-
den, founder of the paper.
Nine persons die of accidents in the
United States eacn nour.
p omnos of the denart- yesterday's final. Cuba cane Sugar prupnaie cm auuiiuniai " -i
neauo ui t- yuv. 1 nnn..v.rt;hiAS worn enair T'entral too total Amount Will be Sufficient to
in the various countries ; - were In demand at RX. inmin th. olinir for a. vear. It is i
t two or three at a time, it was wtinrhiM. i-itrin 7 r-o- o tr-ifio . . .- , s
will na- e ueen laio-
ment
repor
. - i . r- j
- . . . i I --"oi""- ---v. .v. . '"e -. exneciea to iunus
explained, rts a gene, ai ni.. r acKard Motor s and Jveny, spring- fa1, tr ODen th clinic and give I
. mi. - A 14- in nr- I o 1- i .1 x. J U 1L .
not planned. . j.ne " , n ue.pitet.ie yie,- . treatment to children in !
it is un
derstood will take lip with the men sure against some of the motor and tree aentai ireatn
the1 Souping of foreign trade activi- tire shares. On the other hand. Wilson the public schools,
tne grouping t land -Comoanv first 6s were suolied .
ties by basic commodities anu tne iu raher .freely and offered down from f 4V HOLD UP PROSECUTION.
of altering the territory coveieu uy tne 94 tQ 93 y mtle change oc. w:rrMntrtm. June 9. Prosecution of i
e government's case against the g
uu v.iv.v i-ru j ,oii. Cmithcrn pinp Lumoer Associittiuii un- u
daries. i o.i. of a noint and Union Pacific J do- the anti-trust laws may await the.
" . I .. .. ui 1 t I . . . . c-. - rtA.i.i 1M V.
, . I OO U. Udll LYUlIlt.
not unknown y
While suicide is
among uncivilized peoples, it is uncom- JJgpJMENT FAIIS
TO rKuSECUTE MEN
R. J. REYNOLDS
TOBACCO CO.
7 PER CENT TAX FREE
PREFERRED STOCK
I
Subject to confirmation we
offer this High Grade
Stock at
$101.75 per share flat.
If bought before June 15th,
the purchaser will be en
titled to 'dividend of
$1.75 Per Share
Payable July 1st next
Wachovia Bank and
Trust Company
Bond Department
Winston-Salem, N. . C- ,
New York, June 9. Samuel Unter
myer, counsel, of the legislative commit
tee investigating the building trust, an
nounced at today's hearing that he
. oulj write Attorney General Daugh
erty to ask if his department could
not spare men and money to prosit. t
violators of the anti-trust laws.
Mr. Untermyer declared that the com
mittee had v" 4"; " co-operation, al
ugh it had turned over to the de
partment iuiy ..v winter evidence
against more than 20 illegal nation
wide combinations of manufacturers
land dealers in the building trades. He
added that he was not criticising ine
present Federal authorities.
At the same time, Mr. Untermyer re
ceived from the committee authority
to rouest State Insurance Superintend
ent Phillips to make a special investi
gation of the Prudential Insurance
Company to Dear particularly on pri
vate holdings or or est j?. xjryaen, it
president, and the "seeming" mutual!
zation of the company.
Paul Arrington & Co,
Manufacturers
Cost Accountants
Audits Systems
Investigations
- 217 Piedmont Building
Phone 65. Charlotte, N. C.
decision Ot tne oupieme vtrtin. iii f
hardwood lumber case, it was maicateu
todv hv Attorney General Daughertv. -
a sum sufficient to establish the clinic j
nere some- j
of the nroposed re-organization of the sequence m tne rest ot tne rore.gn weeks ago - tfo ,
- i---- wT op fnr0,Vn snrt flomestic com- ''VC".L. ' ! t,..v. ---- junior rteu yrusa j v ,
xt.,t Vnrlr , . ime . Anoiner viurcm uuicnu wtv.0.. - - L iuieu oiaiea i.uuoer uunus weie 1 in,,,0ia tVio octa olisnment or The clinic. v
break occurred in the foreign exchange merce, it was said today at tne depart- not affected by the weakness in the 'the state wlu ap.
i . . T-1 . . wAv.Y.incr PtTF'P.T 1T1 1 SVH C I IIIt'11 L. I . . . I ; n l.l.'..v.r. I thAtlDQtlri and
marKei tin& '"u"i' , i XT.
un3ettlement of prices on tne siock ex
change and the grain and cotton mar
kets
Sterling, or British rates, fell six
cents to $3.69 3-4 for demand bills.
This is the lowest quotation in sev
eral months and compares with the
$4 rate for this same rerrm.a.n
18 last. . .
Demand bills on Paris at .78 show
ed an overnight loss of 11 points and
Belgian, Italian. Swiss, Duteh, Danish,
Norwegian, and- weaisu leuuuaivv.
registered declines of 6 to 35 points.
According to all accounts, London
again was the seat- of selling pressure
More extensive offerings of sterling
exchange for conversion into American
dollars was reported from that center.
Bankers with European connections con
tinued to attribute the reversal to Ger
man reparations payments and the de
sire of German financial and commer
citl interests to accumlate large re
serves in this country. Other well in
formed interests ascribed the reaction
as being due in part to the refusal
of American bankers to renew matur
ing European commercial obligations.
The break in stock was hastened by
reports that the Mexican government
purposes imposing a heavy export tax
on its nil nroducts.
Mexican and Pan-American . Petro
leums were particularly weak, losing
four and six points in tne eariy, iraa
intr
iited States Steel, for years the
leader of the stock niarket, broke otrer
a point during the morning to 76 3-4,
the lowest price so iar tnis
EVERYTHING
In High Quality
Building Materials
DO you know that to
day your dollar will
buy twice as much
framing, three times as
many lath, three times
as much flooring as it
would a year ago? And
that in spite of the fact
that last fall freight
rates' increased twenty
five per cent.
3
CITIZENS
Lumber Company
South Boulevard
Phones 3472-3473
j5
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m
2
S
i
i
t
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Misp K. McK&nf. 8-4. 4-6. 6-3.' 1 1-4 per Ctnc quart.