i'j-
THURSDAY AFTERNOON, JUNE 23, 1921.
15
GRAIN '
ARKET QUOTATIONS;1 FINANCIAL NEW
THE MOST COMPLETE MARKET PAGE PUBLISHED IN THE CAROLINAS.
EDITED BY STUART P. WEST
C URB
COTTON-
BOND S
LIVESTOCK.
TOCKS
For 15 Years Financial Editor of The New York Globe.
-
THE :hakluttk inevvs,
t m - - . J
m' ' ' " "" in. i t,- . , -, - ,, pi ---ii . I j t ' , n 1 1 I -1 " i .in'-- i - - i r - - . -
M
DEPRESSION IN
STOCOIARKET
liquidation is Not Complete
and Few Come to Rescue
of Stocks.
H, STt ART r. W EST
,ff Corrfspo
ndent of Th News
right. by ewilut!!MBB Co.
;;rcet. New York, June 23.
pulity with wnich the recoveiy
...s;pv1
,day forenoon was undone in ine
'. .1 t.-.ruitltZP,
save -. pretty active
" - ...!,., ...,-,, 1,1 Tmnnpn t fid a. v.
;,ir -hnwert that ft goon part oi toe
11 -"hf "ot despite the extremely low
::st nai .,,.,,, become thoroughly
' . y- . I. I Oct
r.en . Uow-d again today, that they
;r' VriH-hed a low enough level to
t substantial support. But the
Jt I W't are still sufficiently nnmor
P.-,-ve!it this buying from malt-i-if
felt in the market generally
;nr. -.ii of today's news was de
although nothing happened
"e wT not expected. Directors of
i-'.Ur -i-i'arolina Chemical passed the
? '.'el shares dividend altogethei.
, other explanation than the
' Y,",V situation, certainly well
k'lown in the fertiliser indus
, .c l'"" ui"ti reports came in of fresh
'Vp ,'uttins- in steel, foreshadowing
formal and general action by
V 'arc'e steel producers, probably
; ,he 'beginning of next month.
F om o.-.e point of view this is n0t
urwe'eome development. Steel
!;,iiTf- were never sattsflel that
,U' n-ii-e i c.l notions of two months.
,r '('- thorough enough. Tlie
L e i,ee'i waiting and holding off fo-i'-Vier
i-i'tu-essions ever since. It is
then fore, inconceivable that a
wer v'iedule of quotations put inn
row will start up new buying
p:it a different aspect upon the
te tragic
"Woolen manufacturers, it will be re
ral'eJ pot no response from their fiiv-t
-We re iuotion last September, but tile
e,'vvil ou: had the desired result. Ii
convince 1 buyers that the readjust
ment was sufficient.
The market was not in a, mood to
jav however, for seeing the favorabb
ije of anything and steel sleeks
ifni down to new lows. A record
. rieure of 11 si cents a pound
-.pv-ted for crude rubber . as against
tr? . ent higii of war times, gave
; st-nneer impression than ever of the
;-ifes "incurred by companies which
ra- had crude rubber as tne princ
fa
t:ii m tneir inventory. siocks
'i- L'nif.l States Uubber and Good-
n :i ii'iiMum and prererred, were
i-ni th weakest.
On the- otlier hand, the oil stocks con
tinue! 1 1 receive the better support
wl'ich hail appeared in their market yes
Kiw. This was true of Mexican Pe
viein:. the Pan-American, Texas Com
Mnv urA Pacific Oil.
' A ha? been the case for the latst
rf'K. the stock market was the cen
ter c; Oite rest in the. financial move
r,;f"t of iho day. The only feature
:. fi pig: i exchatiR-e was a sharp droo
in i'.a'i.i'i lire, following the remova
n! tr;e restrictions upon trading in
fjhdr.ir which the Italian govern
nient has had enforced for nearly
a vav. Annarentlv Italy s economiv
s:;'3-ii.'i is lieemed to have iniDfnvoU
KiSriently to warrant the lifting of
t"? artificial restraints.
0: of the verv few bits of good
rr,? M!ii:ng' in during the day was
tr.e ivnr.l that tlie striKing cotton mm
n:rrrtties at Lancaster. England, had
a?rej to accept the wage reductions
rsjred upon by the employers. This
'.'fri th,e otton market for a while
f-: late- was more than counter-
'"aSap- the weakness in stocks
aii the teports.of favorable growing
'v'atiHi in the south. Wheat con
iin"ii it? rei-overy because the weathe'-
fji:et;n.- from the northwest were
'.nterpvetod adversely. There was no
r.an'e in the money market. A rainy
i:bera ! supply of time money was
ivailnhie at 6 1-2 per cent, but little
l.ij.:ness was done because borrowers
N'fre rf,ntfnt t.i dn their financing in
'"T 'ail loan market.
In the stock market individual stocks
'rnt:n;;.- under pressure all through
tne afi 9 ioon and many of them reaen
i th- lowest prices tn the last
"''jr. Hut tlie market did not show
tne sanif. degree of weakness, taking
tne list altogether, as it-had shown
w other days. The change for the
!'tter in tlie oil shares was a steady
inz in!!urri(f throughout and in th
;it trading this m plainer than it
M neen earlier in the day. There wa:;
m pinions connection between tht
in United States Rubber, which
as 'liscounting a dividend reduction
1 the extreme weakness in American
international, which Is a large holder
'.' the former stock. Studebaker con
uued to receive ffectlve suppor.
?j''en 11 was driven down and the
"-rte-Arrows made some response to
ine assurances from within the c0ru
My that the financial position
TYPHOID VACCINE IS
BEING ADMINISTERED
The health department is adminis
enng anti-typhoid vaccine free of co-st.
'n continuing the plan inaugurated
s'.me jfars ago of offering the peonlft
protection against typhoid at the ex
v nse of the city. Already around 301
-jjie i a e applied at the health offices
for
inoculation.
"my two cases of typhoid fevtr
nae i,Pen rep01.ted to the heatn
f m if'nt lhus far this summer.! Health
cials have accepted this as an indi
ii!v! that the "timber of eases again
. ' he h,r'ld down to a minimum dm -s
summer months. A remark-
' r'Jction in the number of typhoid
hrr r-ported annually has resulted
r within the last two years owin
Preventative measures instituted by
health officials.
A new supply of vaccine has been
I)e,tr7 from the State and thls is oX'
Cted to arrive within th next rlav or
I). ,.Pr,?cautions have been made by
W ;1' Phaul. the health officer, for
ire tv,Ung sovcral hundred people dur-
- summer. '
NEW YORKER LOSES.
J)I?lblodon. June 23. (By the Aeso
.W v Prss- A. M. Lovibond. of
f th , k" was defeated in the singles
tour Britih tennis championsnip
iwna7,,Jnt hf,1e today by T. M. Mav-
. S' -roq.iti. th RHtiah Tlavi run
Dlav
er in straight sets. 6-3, 6-4, 8-.
paul Arrington & Co.
Manufacturers
Cost Accountants
Audis Systems
Investigations
217 Piedmont Building
ne 653. Charlotte, N. C.
:,,'eL,i, t unfavorable trade eontti
a"li that liquidation had not been
";,in,,,,i -.lid that In many instances
,n, "no inclination on the pan
;rt'p ..- 'ailed "inside" interests to
f 1 '''. 'the' rescue of their stocks.
IIV' '' should be understood, is by
n-tan "truV f the lharket as a
-l Certain stocks have ehowh
'"'t1; oi.vi th-ouarh the trylnff expe-
few weeks and
Jt-
I 1 " ! 1 " I III. I - I I I I . .III! ' . I HI. I
Paragraphs
y STUART P. WEST
stair CorreHdent of The Sewn,
opyrlsht, tl21, byJi(n, PublUMac Co.
THE MOTORS.
mhfc?lnii1. of yesterday's trouble
Ulllors aril nir u is
Fierce-Arrow the stock had a fair
rally but could not make much heal
way against the extreme weakness in
nfiro,,rrA;vAh.OUp. It WAS
w.viii r a wiai me company on
April 30 last, had nnirk aKt ,.f
nearly $21,000 onn no-air.ot n
bllltieB of $8,379,050, and that the
bank loans of $6,650,000 were bv no
means Utl tn nnrn.al I . . I '
admittedly poor but Pierce-Arrow
"Hnets are Sound. -
Willys-Overland preferred was not
eired nv th. nnvo that v, i . j
Ulys. Corporation was in the mark, t
u. fiu.uuu.uug loan. me stocK
broke ha d I v rratt 1 v, k.k t i . .
lowest. Those familiar ..ritv,
going on in Chandler said that it was
uut surprising; ior a stock, in such a
market, to get down to where It sold
today. They attached no significance
to the decline beyond the well known
poor state of business and the upset
condition in th o lrs,i- i i
v nlle there some inside buying orders
a. ovaie aown iney were not enousrii
t rt e- a V ... . ...
j.vi. oicin me nemns movement, stuafc-
Daker reachlnir 7 fl ran intn l,.
, . v, u.i iniv inc same
strong support that has been in evi-
i-J .in .. i A- 1. 1
iifclll aiung.
UNITED STATES RUBBER.
United Stntos RnUhor h ; i-az-inro a
scheduled to meet Julv 1, to act upon
the dividend and tlie stoVr vesrerdav
and today was getting ready for un
favorable action. Some av that the
dividend will . be omitted altogether,
umers say it will be sharply cut.
boarcely anybody looks for anything
msuer man a $i declaration, cutting
the oresent distrihutinn i
putting the stock on a 4 per' cent
CAR LOADINGS INCREASE.
Car loadinsrs for the week endinc
June 11 were much better than those
or tne preceding week, which showed
a sharp shrinkage. The increase in
the June 11 week was 82,489 and the
luiui ior tne weeic was iss,99. tnis
week was J41.S8!i helow the same week
In 1919. It was explained that the
shrinkage of 80,000 cars in the week
or June 4 was due to the Decoration
uay noimay.
AMERICAN INTERNATIONAL.
The wsakness in American Interna
tional was set down by the so-called
market experts, to the liquidation of
line or tne stocK that simply could
not be held longer. It was pointed
out several weeks ago that the com
pany had liquidated a large part of its
frozen credits and that it was tret-
ting in good shape for a revival of
tne export business.
This, however, has failed to mate
rialize. In line with the reason for
the selling in American International
it was pointed out that stocks of
two of the companies in which the
American International is heavily in
terested were extremely weak today
and have been for several davs tiast.
These two stocks nre United States
Rubber and International Mercantile
Marine and the report was circulated
that the American International was
reducing its holdings of these stocks
THE Olli SITUATION.
One of the Broadway wire houses
which is interested in several oil com
panles Sent out the following spe
cial message today on the oil situa
tion:
witn tne out;oKo darKest, we
understand considerable curtailment in
production has already beet placed i ir
operation, the effectB of which will
not appear for several months to
come. By that time quickening of
general business conditions and re
vival of export demand may derail
bring consumption in line with, or in
excess of, production. Should this de
mand .show further Increasing ten
dency the campaign for restoring pro
duction maV again get under way but
it will take nearly as long to get
additional oil as it is taKing to re
trench."
JAPS' ENVOY IS
SUGART0NGUED
British-Japanese Alliance in
No Way Endangers Peace
of America.
London. June 2Z. (By The Associated
Press). Baron Hayashi, the Japanese
ambassador to Great Britain, in an in
terview today expressed entire agree
ment with the views expressed at the
imperial conference concerning the An
glo-Japanese allince, adding that he was
sure his opinion was shared by the Jap
anese government.
Obviously, said the ambassador, no
Japanese government and no sane Jap
aneae could regard the alliance as in
any. way envisaging strife with Amer
lea.
"Friendship with the United States,
declared the ambassador, "is an abso
lute necessity for Japan, not only poll
tically but al6o commercially, for trade
relations with the United. States is one
of our greatest assets-"
Contending that it was essential for
the peace of the world that the utmost
friendliness should prevail between
Prance. Great Britain, the United
States. Japan and China, Baron Hay
ashi referred to what he termed the
existing misunderstanding about China
saying:
"We regard China as in no way infer
ior and wish her to be on terms of
equality with other nations. We want
politically what we already have gnan
cially in the international consortfium.'
The ambassador concluded by declar
ing that naval disarmament would be
an inestimable boon for the world and
repeating the conviction that the Jap
anese government was ready to discuss
disarmament and come to an arrange
ment with France, Great Britain and the
United States.'
BILL IN FOR TAKING
CARE OF WAR LOANS
Waahinffinrt .Tnni 22. A bill embodv
Imr nlgna of RpTotarV Mellon. Of thfe
Treasury Department, for refunding
war loans made to tne Ames, was im.ru
iii,i rt thp Senate todav bv Chair
V i T w "
man Penrose, of the finance committee,
to which the measure was reierrea.
mnnirot aiithotdtw would be jriven
ha cppt'Dinrvunilpr the-bill with the
President's approval, to reconvert or
extend loans or Interest payments, to
accept foreign securities in payment
and to settle all claims not now secured.
CURETON STILL AT - LARGE.
Hazel Cureton. wife-slayer, was still
at large Thursday. The police were
continuing their, search for him and
have men specially assigned to search.
Cureton fled after shooting to death
Ms wife at their home, 428 East Stone
wall street, Tuesday while a constable
was dividing out their personal belong
ings, preliminary to an expected separa
tion. v. c. c.
PASSES DIVIDEND.
New York, June 23. The Virginia
Carolina Chemical Company today pass
ed its regular quarterly dividend of ,
per cent on preferred stock, because c"
trade .conditions. . 1,
COTTON SLACK
AND UNSETTLED
Early Covering Followed
by Renewal of Selling on
Better Crop News.
By STUART P. WEST
Sstaff Correcfiotidettt of The Nevt.
Copyright, 192J, by Jiewj Publishing Co.
New York. Jun 23. There was
some further covering in the cotton
market during the first hour of to
day's trading. It was promoted by
reports that Manchester spinning op
eratives have decided to ratify the
Wage agreement and the appearance
of some Liverpool 'buying orders heie,
while the reduction in the Bank of
England discount rates also had an
encouraging influence. On the other
nand, however, it appeared that the
gulf storm had riassed inlanxl and
Was subsiding after having caused
rains, mut no particular damage along
Teas coast. In othei respects weather
was- aiso ravorbie, showers being le
ported in eastern belt sections where
needed and the technical position of
the market had evidently eased on the
ad vane of nearly a cent a pound from
recent low records. These latter fea
tures led to a renewal of sellinK'
on a comparatively moderate early
idvacneof nearly a cent a Dnund from
day was weak and unsettled.
Liverpool was not quite up to the
expectations and the market there
opened steady at a declihe of three
points wiin active montns , selling
about five to nine points net higher
before the end of the first hour.
Private cables received this morning
reported a poor demand for both spots
and futures, but a steady undertone
owing to the reduction in the Bank
of England rate. No fcres feature
Was reported in respect to the coal
mine outlook except that delegates
of the miners will consider the situa
tion m conference with other labor
unions on Saturday.
CHARLOTTE COTTON.
Receipts today, 5 bales at ...
.10.
NEW YOUR COTTON.
New York. June 23.--The cotton
market Was rather irregular following
yesterday s advance. Tn. L,lvertooi
cables were lower than due while
early weather reports suggested thai
tne guit storm was disappearing after
Having caused rains but no crob dam
age of Importance in southeast Texas.
The reduction in the Bank of England
discount rate was an encouraging
leature, nowever,- ana after opening at
a decline of 3 to an advance of 3
points the market held steady on con
tinued covering. Japanese interests
were credited with buvinsr at the
opening but the demand was attributed
chiefly to scattering W all Street and
local snorts. October contracts fluc
tuated between 11.81 and 11.95, com
pared with 11.91 at the close yesterr
day.
L'vernool cables reporters- that Lan
cashire spinning- operative have rati-
ned tne wage agreement were followed
by a light bulge here during the
middle or the morninsr with October
selling at 12.00 or 9 DOints net hieher
l ne market then met renewed pressure
owing to lavoraDie weatner conditions
over the greater part of the south and
taiK ot an unsettled feeling in Wall
Mreet. Houses with Wall Street con
flections who had sold actively last
week. 'Were reported to be "sellina
again late in. the morning, while there
was scattering liquidation bv recent
buyers for a turn. October eased on
to 11.67 with active months generally
showing net losses of 20 to 27 points
arouno niiaaajL.
I here was heavy switching: from
July to later months dur:nr ih om-lv
aretrnoon hat otherwise business Wao
tair and prices showed little furtht-r
change With October ruling around
ii. b or about 24 points net lower,
AisH runiv sror cotton .
New York, June 23. Spot cotton
quiet; middling li.uo.
UiUSK AEW YORK FUTCHES
ew ork. June 23. The cotton
market closed stcadv.
Open Hlarh
July 11.03 1L15
Low
10..7
11.62
12.15
12.26
12 j5
CIos
10.8
Oct 11.90 12. 0C
11.72
Dec 12.46 12.53
Jan 12 60 12.65
March 12S 13.07
12.-;
12.34
12.72
NEW ORLEANS COTTON.
5"ew Orleans, June 23. After making
declines of 8 to 13 Doints around
the opening today, the cotton market
braced up and rose to levels 8 to 9
points over the close of vesterdav.
July first traded down' to 14.48 and
then advanced to 10.68. Declines wer
du to poor cables and an easio
feeling regarding the hurricane while
the later advance was due mostly to
private cable messages from England
3tating that the cotton mill strike
naa Deen settled.
Weakness in the stock market and
rumors of large July tenders Satur--
day, the first notice day for that
month, caused decline to a level
27 to so points under the's. close o
yesterday. July dropping to 10.32. Oue
report had it that tenders Saturdav
would be at least 30,000 bales. Anoth
er rumor, however, claimed that Julv
shorts were transferring to October
and mat one oroer aion that had
been given the ring called for the
purchase of 10,000 bales of July. At
ii o clock the market was within a
tew points of the lowest.
In the . late . trading - the market
was at Its lowest at a net loss of
61 to 63 points, with July off to
10.28. Selling seemed to be based on
expectations of relief from the drought
in me eastern Deit.
NF.W ORLEANS SPOT TOTTON
New Orleans, June 23. Spot cotton
steady; middling unchanged; sales on
tne spot uo bales: to arrive 119.
Low middling R.1S;. middling 10.3S;
suuu umru jjng; j 1.00.
Receipts 2,774; stock 467,348.
CLOSE NEW ORLEANS FUTURES
New Orleans. Jun 23. The cotta-i
market closed steady at net declines
oi to 2b points.
open
High
10.6S
ll.is
11.92
12.10
12.38
Low
10.28
1L07
11,51
11.75
12.13
Close
July .
Oct
Dec. .
Jan.
March
10.48
1.35
11 15
11.33
11.76
11.96
12.31
11.57
11.7
12.1
LIVERPOOL COTTON.
Liverpool, June 23. Cottoi: Spot
siow oi saie; prices unchanged; good
miaonng 5.u; iuny middling 7.66
middling 7.01; low middling 6.01
good ordinary 4.76; ordinary 4.01.-
Sales 3,000 bales, including 2,900
American. Receipts 1,000 4 bales, no
American.
Futures closed steady. June 7.50
July 7.55; October 7.98; January 8.20
March 8.31; May S.39.
MONEY.
New York, June 23. Prime mer
cantile paper 6 1-2 to 3-4.
Exchange easy; sterling 60 day bill?
and commercial 60 day bills on banks
3.69 5-8; commercial J0 day bills 3.6:
3-x; demand 3.74 l-s: cables B.74 7-8.
Francs, demand 8.00: cables 8.02.
lgian francs, demand 7.97; cables
i.99.
Guilders, demand 32.90; cables 33.00
Lire, demand 4.77; cables 4.79.
Marks, demand 1.39; cables 1.40.
Qreec, demand 6.00.
, Sweden, demand 22.35.
Norway, demand 14.30.
Argentine, demand, 30.75.
Brazilian, demand 11.75.
Montreal 12 S-8 per cent discount.
Government bonds easy; railroad
bonds easy.
Time loans firm : 60 days, 90 oays, 6
months 6 per cent.
Call money, easier; ruling rate 5
bank acceptances 5.
... 1 1 .I.
CHICAGO PROVISIONS.
Chicago, June 28. Butter lower
creamery firsts 28 to 31 1-2.
Eggs higer; firsts 24 to 24 1-2.
Poultry, alive, higher; fwols 27
broilers 35 to 48. ; ,
SILVER.
New York, June 23. Bar sliver, do-
mestci 99 1-4; foreign oS 1-2-Mexican.
djjlla.rs. 4 4- 7-8,,
Wall Street )
New York, June .23. Contrary tr
expectations, the reduction of the Bank
of England discount rate to six pi
cent was Ignored at the opening wi
today's stock market. Initial quo
tations again disclosed a majority ol
declines, especially among equipments.
motors ana tooo specialties. (jenerai
Electric, Pullman, Pressed Steel Car
Studebaker, American Sugar and Bet
sugar lost l to l 6-5 points. Rails
were moderately lower with- leather.
rubber and chemical specialties. Royal
Dutch, at a gam ox z.s-8 points, was
the only conspicuously strong stock.
Losses were irrfegulaiiy extended wltft-
n the first hour.
Declines of United States Steel to
a new low record Ahd the passing of
the Virginia-Carolina Chemical pre
ferred dividend caused further losse
at midday. Extreme declines of 2 to 5
points marked the offerings of, numer
ous rails, shippings, oils, industrials
and specialties.
The closiner was heavy. Sales At-
proximate J 800,009 shares.
NEW YORK STOCK LIST.
Lust Sale.
Allis-Chalmres . . . ? 2S ?fe
American Beet Sugar .. .. .. 2$Vi
American Can 24
American Car Foundry ...... Ill
American Hide L.eatner ptd
American International Corp.,
American Locomotive v . . .
American Smelting & Ref. . .
4fc
30
75
83 M
70$
HV
102 ;S
63
35
77 V
21
63
31
42
104
32 H
50 V.
46
33
26 i
20
26
62
52 V
8i Hvfe
122
J'
27
684
American Sugar ..... .... ..
American Sumatra Tobaeo .,
American T. & 1
American "YVoMch ....
Anaconda Copper
Atchison
Atl., Gulf & W. Indies
Baldwin Locomotive
Baltimore & Ohio ,
Bethlehem Steel "B"
Canadian Pacific . . . . .... .,
Central Leather ,
Chandler Motors .... . . . . . -
Chesapeake & Ohio ;
Chicago, Mil. & St. Paul .
Chicago, ii. i. & fac
Ohino Cooner ..... .... ,
Colorado Fuels& Iron .... .
Corn Products
Crucible Steel
Cuba Cane Sugar
Lrie
General .Electric '.
General Motors
Goodrich Co
Great Northern Dfd
Great Northern Ore ctfs . . .
Illinois Cehtral
88
31
Inspiration Copper
Int.. Mer. i Marine pid .... .
46
International Paper
48 '4
Kennecott Copper ....
17H
Louisville & Nashville .....
Maxwell Motors
Mexican Petroleum .... .....
Miami Copper
Middle States Oil
107 '0
110',
19 V,,
iov:
Midvale Steel - ...
Missouri Pacific ,
22 &
as
15')R
New York Central
N. Y.. N. II. & Hartford .
Norfolk St Western
90
Northern Pacific ....
6t.
11
-
Invisible Oil
Oklahoma Prod. & Ref.
Pan American Petroleum . . .
Pel nsylvahia ....
a?
People s uas
Pittsburgh & W. Va
Ray Consolidated Copper . . .
Readign .... .... ...
46
12
62
42U
Kep. iron & steel .... .....
Royal Dutch. N. Y
5 Hi
Shell Trans. Trad.
Sinclair Con. f)il ....
Southern Pacific
Southern Railway
40 y
69
11 -i
standard Oil of N. J., pfd .
105
Studebaker Corporation
71
7
tennessee Copper
Texas Co
Texas & Patilic ....
19
lobacco Products .'.
51
J rat.scontinental Oii
'Jhion Pacific
S
US
V. S. Food Products
U. S. Retail Stores ..... .... .
U. S. Ind. Alcohol .... .... .
U. S. Rubber
!f. S. Steel .... .
Utah Copper
Westinghpus Electric .... .
Willys Overland .. .... ...
Pure Oil . . . .
Atlantic COaSt Line .... .. .
61Vh
4t
53
70 Vs
46
41 Ts
6
2 it
84
27
27
Coca Coin,
Gulf States Steel
Seaboard Air Line .
Slossr Shef. Steel A Iron . . .
5
33
UnitFd Fruit .
Virginia Caro. Chem.- ... ...
102i
24
American Tobacco
American Zinc
General Asphalt . . .
115
7
47 V,
LIBERTY &OSDK.
New York, June 23.- Liberty bond
closed: 3 l-2s. 87.46; fifirt 4ts, 87.10 bid;
second 4s, se.s; nrst 4 l-4s, 87. 4S;
secohd 4 l-4s, SC.72; third 4 l-4s. 91.20;
tourth 4 i-2s 86.90; victory 3 3-43
98.40; victory 4 3-4S, 98.40.
NEW YORK PRODUCE.
New York, June 23. Butter easier
firsts 31 to 33.
Eggs irregular; fresh gathered firsts
25 to 28.
Live and dressed poultry steady
ana unchanged.
BELLA PONTIAC SETS
A NEW MILK RECORD
Brantford, Ont., June 23. Bella Pon
tiac, the world's record cow, owned by
T. A. Barron, of Brantford, has set
a new record. Figures . made public
today by James Wilson, supervisor of
the official test of the Hoist ein Friesian
Association, showed that for the fiscal
ysar ending June 18, Bella Pontiac pro
duced: Milk 2?,017 pounds; fat 1,259
pounds and butter 1,573.75 pounds. Mr,
WJlson said these figures were far in
excess of any previous recor.
CITY DECLINES TO
AID DAIRY FIGHT
Officials Feel County Should
Bear Burden of Campaign
on Cattle Disease.
A delegation representing rural or
ganizations of the county appeared be
fore the city commissioners Thirrsrjay
to request an appropriation- of $ 1,500
to go with a similar apropriation of
fered by the county commissioners for
a campaign to rid ; Mecklenburg of
tuberculosis-infested cattle.
The city board declined to make the
appropriation, contending that the mat.
ter is one in which the county com
missioners should bear the . burden. Tn
city board offered to hold a joint meet
ing with the county commissioners for
a .discussion of the proposal, and a,me.t
ing is being planned for next week
If the countv co-operates to the e
tent of appropriating $3,000, the federal
government will send two veterinarians
here and inspect a cattle for tuoercu
Mosis. Those found infected will o
killed, the federal and state govern
ments paying the owners two-thirds
of the original cost.
The delegation, which was composed
of representatives from the Farm -Bu
reau association. Federation of Homo
Demonstration clubs and the Meckien
burg Milk Producers association, con
sidered that the city should bear a por
tion of the expense beeaue the milk
sold in Charlotte is produce in - the
county. The commissioners said that
the city has laws which prohibit the
sale of milk from miectea cows to ctu
zens. and expressed . the opinion that
the county commissioners should bear
the expense as the work to be done re
lates solely to the rural sections. The
board agreed that the tests should be
made. -
Grain Market
opyHfrht list, by Nws Pvbliriitn C.
Chleairo. June S3. Wheit TnarttM acted
choppy today. Trade was entirely local
tna tney were freouentiv chanarhier their
positions in the mark fc. Crop hews
vas a big factor, catisin- buvlne arlv
but buyers were scarce when the longs.
attempted to unload. A wet harvest
scare was -on, Missouri crop was being
killed by southwest interests, while spring
wheat reports were bullish from parts.
Even such a conservative house as Van-
du.en-Harringtoh Company, of Minnea
polis, in their weekly crop letter told of
deterioration. Export business was ex
ploited by thfe bulls, Germany having
taken two million bushels of wheat the
oast few davs throuirh butch and Eng
lish houses, seaboard houses said. This
caused a flurry in the market for only
a short time. Local interests sold 60 000
Liisheia of new wheat to exporters bV-er
night. Receipts tn the northwest com
tlnue liberal but elsewhere they are dim-
Hiishlrur. Cash wheat oremiams were
higher there being active competition for
the winter grades. ' -
Corn market wfc6 heavy from the start.
July lohgs are getting out how that
the prospects are for unusually large de
liveries. Sales bf 500.900 bushels of con
tract corn were made to go to Store.
Carriers were competing for cash corn in
order to derive the benefit of the big car
rvlnir charge orevailing. As a result the
discount was harrowed 1-4 cent. Receipts
continued of good volume. Crop heWs
favorable.
Qats were more disposed to follow the
trend of CBfh arid the market failed to
respond to the frtftny bad crop reports.
Many of the locals unloaded long oats
picked up recently cash oats was un
changed.
Provisions Were easy eariy out rauieti.
Cash demand for meats and lards was
reported.
Ghicaaro. June 23. Bullish' crop re
ports from the northwest led to an
unturn todav in prices for wheat.
ODehihef imitations .ranged from 1-2 to
l 34 cents higher.
Corn opened unchanged to d-s cent
lower-
Oats Started Tmchahged to 1-8 cent
off.
Lower Quotations on hogs put pro
visions on thfe downgrade.
Corn closed steady, a-8 to net
lower.
Wheat closed strong, 1 to 2 1-2
cents net higher.
CHICAUW GRAIN AN 13 rHUUVtU.
Opan lilgn wow cios
WHEAT
July . . .
Sebt.
.1.30 1.31 1.23U 1.304
.i.2314 1.21 1-21 1.23
CORN
J uly . . .
Sept. . .
63
40
63
64 y2
39
40
62
63
38 4l
39
62 's
63 V2
40'.fe
OATS
July . . .
Sect. . .
PORK
July ...
Sent.
1 7.1.J
I7.3u
LARD
July . . .
IBS
July ...
9.95
10.25
10.25
10.40
10.02
10.37
10.2?
10.60
9.92
10.25
10.25
10.40
10.02
10.37
10.2
Sept.
10.60
CHItlAGO tASH 6RA.
Chicago, June 23. Wheat, No. 2 red
1.40; No. 1 hard 1.45.
Corn. No. 2 mixed 61 1-2 to 61 3-1
No, 2 yellow 61 1-2 to 62 1-4.
Oats, No. 2 white 38 to as 1--'; iso
white 36 1-2 to 37 3-4.
Rye, "Nd. 2, 1.24 1-2.
Barley, 62 to 67.
Timothy seed 45C to 6.00.
Clover seed 13.00 to 19.00.
Pork nominal.
Lard 9.92.
Ribs 9.75 to 10.75.
NAVAL STORES.
Savannah. Ga.. June 23. Turpentine
firm, 51; sales 2o3; receipts 429; ship
ments 13: stocks 8.o03.
Rosin-Arm: receipts 1.219; shpiments
none; stock 74,v8S.
Quote: B 3.50 to 3.67 1-2; D 3.60
to-SHi ) -Hz K J.Ea tn 2.72 1-2: B"1 3.70:
G 3.75; H 3.80 to S.82 1-2; I 3.85; K
4.00 to 4.12 1-3; M 4.50 to 4.67 1-2;
N 5.00 to 5.22 1-2; WG 5.75 to 5.80
WW 6.47 1-2 to 6.50.
Market steady.
COTTONSEED OIL.
New York. June 23. The eottonsee 1
oil market closed steady. Prime sum
mer yellow .40; jnme crude 6.00
June 7.40: July 7.39; August 7.7C
September 7.85; October 7.91; Novem
ber 7.75: December .&; January .
Tita; sales 6.70t.
SUGAR.
New York. June 23. Flaw sugar
unchanged with centrifugal quoted at
i bents.
Refined were unchanged at 5.50 for
tine granulated.
CHICAGO rOTATOES.
Chicago, June 23. Potatoes weak.
Virginia 3.50 to 3.75 barrel.
North Carolina 3.00 tG 3.25 barrel.
SHINE-PARLORS
WILL PAY SAME
Mayor Tells Proprietors
Negro Boys Must be Kept
Off Sidewalks.
The city commissioners have reduced
the license rate on shine-parlors, mak
ing the same charge that was in effect
for the past year.
In framing the new tax ordinance, a
rap was taken at the high price
shines when the board' placed a higher
rate on parlors charging a dime for
a shine than those which charge
nickel. Virtually all" of - them charge
a dime.
The shine parlor conductors, who are
Greeks, appeared before the commission
era and protested the increase, claim
ing that the high price of shines is due
to high rents, high labor costs and the
high price of shoe polish.' Their rents
were said to average around $300 a
month. The commissioners considered
such a rental unreasonable and out
of proportion, but the Greeks claimed
that is what they are paying.
They came back Thursday morning
to renew their complaint and the com
missioners altered the ordinance so that
last year's license tax will be imposed
on parlors charging only 18 cents with
an increase if they charge more than
a dime. They said they would not raise
the price. X
The tax originally fixed by the com
missioners charged $25 for the first
chair $10 for each additional chair in
a parlor where more than five cents is
charged for a shine. The rate will
stand, however, which was in effect
last year and which imposes a tax of
$ia for the first chair and $5 for each
additional chair-
One man appeared before the board
some time ajgo and protest that a shine
parlor had charged him a quarter for
polishing a pair of ladies' white shoes.
The shine parlor owners considered this
a reasonable price for white shoes.
. Mayor Walker took occasion to warn
the delegation against the practice of
negro bootblacks of standing on the
street In front of the parlors and call
ing to pedestrians as they passed by.
The reply was made that Chief Orr had
given a warning to this effect and that
the boys will kept off streets as much
as possible. The shine boys are a hard
lot to deal with, the boss men said,
but the mayor warned them that they
hadv better deal with them and bring
about a discontinuance of th practice-
of calling to people which had result
ed in numerous complaints to the pc
lice and city officials. . .
Live Stock
Copyright 1021, by New FtbUshtn Co.
Union Stock Yards. Chicairo. June 23.
Comparatively large runB were reported
in all branches of the live stock trade
today. Sellers held out for steady Values
but they had to tike lower price levels
after a late start. There is little ae
marvd for sheep And lambs from outside
sources. No prime Western lambs were
on sale today.
Receipts today were estimated at 12.000
cattle, .41,000 hogs, 12,000 Sheep JUnd
larnbs and 6,000 calves.
Cattle: Best drv Teed steers steady
with choice yearlings ouoted at $9 to
89.15. Grass cattle null and 16 to 25
cents lower. Good cows And heifers un
changed, while plain grades were off 15
cents. Canners Steady. Bulls 10 to 15
cents lower. Choice veal calves lh good
demand, with Outsiders paying Slv tb
$10.25 and packers $9 to $9.76.
Hofcs: All grade 15 to 25 cents low.
Top light grades at $8.40. to $8.80 with
rough packing stock at $7;60 to s.o.
BUlk butcher S7.S5 . to S8.8O. Pigs 16
ct-hts off, best lots at $8.25.
Sheen: Trad- like yesterdays low time
of 25 cents off from the average. Choice
iambs $12.00 for natives ani ?ii .0 tor
belst CalifoMiias. Aged lrtuttovs steady.
CHICAGO LIVESTOCK. .
Chicago, June 23. Cattle: Choice.
yearlings and handywelght steer
steady; other 15 to 25 cents loweri
fearlv top vearlingS 9.00; some hell
higher; bulk 7. 25 to 8.40; she Stock
eloW, best steady, others Weak 10
lower; bulk tat cows ana mnrers 4.&0
to 6.25; cahhers and cutters largely
2.00 to 3.50; bulls 10 to 15 cents lower;
bulk boioarnas 4.00 to 425: Veol
calves steady bulk around 9.50; Stbck-
ers and feeders dull.
Hogs: 15 to 25 cents lower than
yesterday'? average; heavy and pack
ing mixed off most; better grades
active, others slow; top 8. 00; bulk .8.25
to s.au; pigs 10 to la cents lowe.
bulk desirable 8.2o to 8.3o.
Sheen: Slow at esterdav's extreme
low time top native lambs 12.00; bulfe
good and choice 11.50. to 75; bulls
mostly 6.00; good 82-pOund dry fed
yearlings 9.00; best handy hfttlve ewi
4.50; extreme heavies arounnd 3.B0.
r
Bond Market
1
1.
By STUART P. WEST.
Staff Correspondent of The News
Copyright 1931,, By News Publishinir Cb.
New York. June 23. At a late hour
this afternoon $7,500,000 of the $8,000,
000 commonwealth of PennsyRania 5
per cent gold bonds had been selling
and it was expected that the sub
scription books would be closed either
tonight or tomorrow. This , is the
second success within two days of a
iow-interest bearing public Offering.
Yesterday the City of Chicago 4
per cent bonds amounting to 17,993. -
000 were almost all taken before the
day was out. Today the Pennsylvania
issue was very attractive because of
its comparatively long term. The
bonds run thirty years and are exempt
from' all federal Income taxes. As
such they made a special appeal to
wealthy investors who have hot been
accustomed to get as high as five
per cent for their fnoney.
Tho sreneral bond list today Was dul!
and there were few changes' of con
sequence.. Railway Issues, where they
changed at all, were inclined to shade
ott. lhis was true 'or .Erie general 4s.
which were off a half Doiftt. of Penn
sylvania geneial 5s which w.ere down
from 83 3-4 to 82. and Chesapeake
and Ohio convertible 5swhich drop
ed a half points to 79,, later rallying
to 79 1-4
Among the industrials a new low
record was reached in Atlantic Fruit
7s, which got down to 40. Chile Cop
per 7s were steady at 91 1-2 despite
the heaviness in copper stocks. Kell
Springfield 8s held at 98. and Goodyeai
8s were up a fraction in face of the
weakness in some of the rubber and
tire stocks.
Liberty bonds were off a bit, with
exception of the 3 l-2s which were
a few points higher. Victory 4 3-4s
were steady around 98.40.- City of
Paris 6s continued to be dealt in, in
large blocks at 99 1-2. Sao Paulo
8s dropped a half point to 94 1-4. but
Braeil 8s were steady and unchanged.
Mexican government 5s rallied, to 45.
Danish, Norway, French and Belgian
bonds were all of th:m the same as
yesterday.
SURGEON PROBES
OPEN SAFETY PIN
Infant is Recovering Follow
ing Unusual Operation by
Local Man.
Theremoval of an open safety-pin
from the stomach of a 12-months-old
child has been accomplished by a Char
lotte surgegn. The pin lodged in the
g-ullet just above the stomach, with the
point turned upwards. The surgeon
pushed the pin into the stomach, turn
ed it around and then pulled it out
through the mouth.
The operation was performed eight
days ago as a last resort to save the
child's lite. Only A few minutes Were
required. Tlie child is now convalesc
ing. The parents. are Mr. and Mrs. W. F,
Graham, of the Park road. The sur
geon declined to allow his name to be
published. Asked it if Was through
modesty or fear of violating profession
al ethics to withhold his name., he at
tributed the reason to professional
ethics.
Operations of this nature have, oc
curred previously, he said, but other
physicians said that such a perform
ance is a remarkable and worthy ac
complishment. .
The oesophogoscope, ah instrument
equipped with lights by which the sur
geon can see into the stomach, was
used. Inserting this through the
mouth he reached the pin in the gullet.
Guided by the lights of the instru
ment, he pushed the pin into the Btoiri
ach. As tho point was turned upward,
which would have made its extraction
Impossible as the point wculd tear and
cut, it was necessary to turn it around
so that the round end would be up
wards in bringing it through the gullet.
Again guided by the lighted instru
ment, th surgeon turned the pin round
so that this, point would be turned
downward. Pulling: it back but was
not so difficult.
X-Ray pictures were taken of the
operation for the interest and future
guidance of surgeons. - "
The child swalloped the pin ftt night,
it was said. The mother, had pinned
the covers of the bed about it to keep
it from, kicking them away. . Getting
hold of the one of the pins, the child
pyt it into the mouth. The safety pin
was small, perhaps an inch in length.
It was open when the child swallowed
it. ' r
A fever developed-and soon tha child
was seriously ill. Its life had been vir
tually dispaired of when the permission
of the parent? was obtained to probe
as a last resort. '
The rullet of a 12-monthsold child
Is between a quarter and half-inch in
diameter, the surgeon said. A four
year old child's gullet is a half-inch in
diameter.
L
Curb Market
By STUART P. WFST
Slff Cr rrtMn dent f Tti Nrwe. -Copyright
1921. By N Publishing- CoJ
New York, June 23. Selling pressure
developed In the curb market today and
resulted in a number bf new low records
in some of the oil stocks. That there
was forced liquidation was evident from
the manner in Which some of the offer
ings came on the market anl filled bids
in stocks considerably below the pre
vious offering price. Commission houses
had selllnr orders which were said to
have been caused by the failure of some
customers to answer margin calls sent out
on Monday. Insiders made feeble efforts
at tfnres to support their favorites, but as
a rule, this demand made little headway
against the Belling Which came in.
An indication of the lack of bids was
shown in Oilliland Oil. At the opening
the stock was quitd at three bid, of
fered at fifteen. During the noon hour
a pertMstfnt order came ihto the market
to sell 100 shares and a transaction was
finally closed at four, with a later sale
of another 100-share lot at three. The
last previous sale lh this stock was at
ten on Saturday. Carib Syndicate Wa$
in free supply and broke below fire, a
new low record.
Cities Service issues were heavy, the
bid conirhoh declining ten points to a
new low while the Bankers Shares and
the preferred stock yielded sharply. There
were sharp recoveries from the lowest
oh inside, buying. Sinms Petroleum n I
Maracaibo Were fractionally lower. The
Standard Oil also declined. Midwest
Refining yielded about two poltits, with
Standard Oil of Indiana , heavy, because
of liberal offerings and with quotations
of the others down from the previous
close. Mefritt Oil was one .exceptiohrThij
stock held, comparatively firm.
Glert Alden Coal was more active than
in some time and declined about a point.
Delaware. Lackawanna and Western
rights lost a point but rallied from the
lowest. United Retail Candy, United
Profit-Sharing and others wehe heavy.
Sweets Company of America held about
unchanged. . The motor stocks were in
active, but quotations were lower.
Bond were comparatively active, with
rnterborbugh sevens again the feature,
advancing a point on heavy dealings.
HERBERTHOOVER
WILL BE INVITED
Exposition Directors Want
Cabinet Member to Speak
Here in September;
Herbert Hoover, Secretary of Com
merce in President Harding's cabinet.
Will be Invited to Charlotte to attend
the Made-in-Carolinas Exposition that
is to be held here September 12 to !ra.
A delegation headed by President a'.
L. Kirkpatrick of the Chamber of Com
merce and heads of other civic and
commercial bodies in Charlotte will go
to Washington about' June 28 to pre
sent the invitation to Secretary Hoov
er. .Colonel . Kirkpatrick stated the de-e-cation
would also seek an opportunity
to see President Harding and reaffirm
the invitation' that has already been
extended to him to visit Charlotte May
20. 1922, as the city's guest.
Those who will compose the delega
tion to Washington are Colonel Klr"
patrick, representing the Chamber of
I Commerce; Ed. M. Wallace, president. of
the Charlotte Automotive Trade - Asso
ciation: C. W. Parker, president of the
Charlotte Merchants' Association; L.
M. Hipp, president of the Charlotte As
sociation of Credit Men: Mayor Jamcr.
O.' Walker.- John L. Dabbs, president of
the Made-in-Carolinas Exposition; J. C.
Pattort, director of the exposition, an J
others.
Colonel Kirkpatrick and a delegation
of Charlotte men went to Hickory.
Wednesday to pres6nt the matter Of the
exposition to the people and the man
ufacturers of that place. The Char
lotte delegation met with a warm
ceptiort and was promised the hearty;
co-opertaion of the people of Hickory,
who approved the Made-in-Carolina Ex
pc-sifion as a splendid idea. Mayor J.
D. Elliott and others spoke in welcome!
to the Charlotte delegation and for the!
exposition idea. '.
A Charlotte delegation has already"
presented the exposition plans at G.ist
tonia and Rock Hill. They will bo
presented at Wilmington .Friday. Eigh
teen thousand feet of floor space ha
been sold to date of the 40.000 feet ofj
space that will be for exhibition pur
poses. ' - -
Those in the Charlotte delegation to
Hickory were Colonel Kirkpatrick. E.
M. Wallace. J. C. Patton, M. L. Black,
.T. W. Squires. Phil McMahon, Lane
Etheridge. A. V. Harrell, C. W. Spen
cer and Mr. Hook.
A letter has been received from
Governor R. A. Cooper, of South Car
olina, saying she would visit the ?x.
position. Governor Cameron Morrison
also will be here. - ;
JACK 1 E M P S E Y ANI
GEORGES CARPENTIER IX
"THE FIGHT OF THE AGES."
MACK UNDER IN "SEVEV
YEARS , BAD LUCK."
BROADWAY. ,
Th ursday Friday Saturday
t
EVERYTHING
In High Quality
Building Materials
THE shingles and the
siding of your house
berathe brunt of the
weather exposure. You
want a shingle that will
not crack or split and a
siding that will take
paint and stand .the
weather. Let us ' advise
with you.
CITIZENS
Lumber Company
South Boulevard
ffcones 3472-3473 d
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