North Carolina Newspapers

THE CHARLOTTE NEWS, CHARLOTTE, N. C, THURSDAY AFTERNOON, JUNE 30, 1921. 17 RAiN-T ARKET QUOTATIONS; FINANCIAL NEW THE MOST COMPLETE MARKET PAGE PUBLISHED IN THE C AROLIN AS. EDITED BY STUART P. WEST For 15 Years Financial Editor of The New York Globe. C U R B n u COTTON- BONDS LIVESTOCK- TOCKS M amrK TRADERS I D jlUCHPUZZLED . cW-nu Especially Oils, ft Sharply But Rail way Shares Attract. hand Vv the sudden tariff bill as a set'"" of the new uncertainty in the S '1(n,S' ; had the handicap of situation- tllive-day hoUda.y witn an i'nPfn- clearing up of specu .,. rustonvi .,.. ln this cai- it! noiulcrinee of selling. Thev " ...i,i narrow nu-nmo. opened with an The Tvxc Ur collapse in Mexican o'fcer,?? w":eh carried them down oil .. .' points for the year. This tfl"'! i.-rnklMto result of the news WAS w ' .-.iiv unexpected, tnai - 1 O in? nut on nf.e"" 1 . ft now being framed . ... tin lis ln Iv ".-n.le and a 25-cent tax barrel . jc. r,itosether probable i if ' (MI I Y OL c ' - w w f on f-'i;,.0'on,.F.'il will be the subject 'vai ire; controversy and will not go f! ' r" an opposition which tfer(,3U P-lable enough to effect a msy 1;. " he ,.o,nt was also niv a small part of Mexl maao.Vi',Niir' business in this coun- car. .... .,f , rn,ie oil. that its mam lrr- are gasoline, upon which ! l'f io be no duty. But these there r L ... , in 'HI,, of the moment to stem th M-urf Ve.-uhuive action. l:'!p,; break in Mexican oils put quite a 5ra:'i upon the rest of the market, uUilv as it came Ax. a tir ;whe traders had profits on spec iC purchase wnich they were anx- ni t ... ,;,.. hnvintr of railwav ?,,'. rved -is a counter-balance 1 sellins in the industrials. f" tie iitr'iai iirciucuic u .tii nVv'rate was marked up to six per . . .tl...nt. tha noil vtt'"? readv to meet the interest and diviiehi payments tomorrow, had to ,,,.n'v overnmeiu uiana iuj umn) th.'rtv million dollars. The higher rconey, however, being- due as every- 1.AH- vp;i lzeri io uureiy icnipuiaij ,ifian(ls. had no eriect upon tne day s Weakness continued in all the for .!n pvehaness. surline erettinar down i'hin a snoil (liaiice ui mo ctucinr n- 'ieh;l u hen the tirst installmeri f the German indemnity was being fman.el t'nvoiiah tlie punhas3 of dol- au It may he tnat the reparationti I cr'ihssion is comeriins mio uonai i-reiit part t the second installment morr ulr.h was leceived in Kuro Msn 'currencies. This wolud furnish ?.n eNPiaiiati 'ii for an otherwise put; z : i i. :i!Ker.!crt. German marks again tC'ii a new low. TV: way tne general run of stocks sum up under t lie breaK in tne Aiext- k. South American oil issues was -ratte: of favorable comment. lt was feriutps tlie tiest proof so fur th increased resisting- power fr!i:ch Vac ;.:arket nas developed within in- .ay weei; Repots that Republic steel and Bethle ):n Steel had agreed upon a series of tirtr.er ince cuts liad only bliffht influ. alth'"ii;h it fore-shadowed similar actr.n by all the other companies. Inas ntiri a til- r.cw price reduction will he acrapanied by a further revision -of vatrs ann saiaries inasmuch as this will fi'jte likely furnish a stimulus which was licking after the reduction of two ni'.ths ago it is a question whether the- r.i&-.-:rt will not take these announcements a sense of relief. Xotor shares felt the effect of profit tak.r.g rather than the average. Light wai thrown upon i)ti prompt recovery of tli Ust few days in American Car and I our.rlry shares by the annual report Hittlay, which made a wonderful show- in? with all the business depression o' tn. last six months of the company's I'-sa. uar, it was able to show $21.50 a snare earned as against 520.67 the pre vtousyear. The $10,800,000 reserve fund cwwing three years dividends ahead, re rca;,r, intact and after all charges and inutenris ?2.on.noo was added to sur plus bringing that item up above loo, IMMl.iflil SII.VKK. mv York, June 30. Bar silver, do l.iMttc yj 1-4; foreign 59, Jlexican dollars 45 -1-4. , CHIC.U.O PROVISIONS. uicago. June P.O.Cutter higher, whirry nms .. t0 5??s unchanged. rou.try. alive, lower; fowls 20 to 20 uro-.iers :'S to 35. L CHICAGO rOTATOES. '-nicaso, June 30. Potatoes weaker 1:5.11.1 barrels 4.00 to 4.25. Carolina stave barrels 3.50 to 3.65. Hat barrels 3.25 to 3.50. v MOSRV. tn. . lorl- June 30. Prime mercan- "s. I'n'er ) to r. 1-4. bill. I '"?avy- sterling 60 day KoVi, ,' 'ommerciai 60 dav bills 3c- , - '-ommerciai 60 day bills s s- uemutm 7-S; cables 3.72 Fran Rir , ',e,llaivi i.ai; cables 7.99. 7.&4 francs, demand' 7.92; cables r.. x , f ibers, demand 32.69 cables 31.70 V," r; uem t o 1 ; tables 4.89 Grefi' f"1"""1 cables' 1.32 . nemand '' 0 K' oenmnd so.: Mnn -lr?' ."'mini 11.50. bonl. "enl loncls easy; railroad fir.,. oanji steadv; 60 days, 90 days ,u."tns k MP ,ccePtarices :ceml"e-v.sy; rullnfl rate 5; bank i 1-2 and 5. SI'GAB. York, June u. i:aw auea centrifui?al SeJ . Refin.H ' at 4 cents fo IW fint : l"1(-nnged at 5.20 to 5.J5 -fanulate 1 Xew York VICK PHODL'CE. nrairy0tfikrl.tsJu.n.f o.-Butter steady to ff;s m; fresh gathered firsts 2 e vokk- (ho... WukiH-0'8 ml,k aver a: fr..', weak-, hrnii.ro BrrUCJ.V -8; roosters IS. Llansea. ' ,JUliry steady and uu V A . firm 1 "atV Oa.. J,V'Vn! e 30. Turpentin "nts'i'.i?.?.1' 1.59: receipts 1.1U n stoc k Si fini :,f.. 1 1 i. . J 40 rJ 3.45: .'.W- v," -i, 3.60; K 3.95; M ' U(' :.65: WW 5ft it y. 1 JU11 30 I.lh.rtu Ko.l 'U ; flr-t 4s., 87 00 u Ui- Tfi '' J-4. 87.10; seo ' "-lory a .X"-LWJ Jj-4s, 98.42. ttonseed oil IV fM :J. 8.00; summer yellow out.:- "lemv.s,. on .a. . .1 HI V 7 Kfl Am s- ,""er 7 sn. ."u; ucioDer s. 07 J l.SIU. will Th. jERKCT RESIDENT. f1.0" Cornnan,. u(ronsHdated Construe fcnT Citv Bui Mi l'eL-eivd a permit b0ntellv LK"l!?llng Inspector R. P. S.CUsi at sn,cn erection of a. alx-room lilt, .. - O'JG t r e ahm, o iTI BT 1. WEST wTOTMd"iwvibii.hico. Wall bt m-. asaln .moved Qndtr rMUV i.. ,.a. I r.ey were ui- J"-4 M,i 'v employes would agra tW"raii per oe:u wage cut and that t"the V,, V in' the news of to- : - ' i i"""-"" 1 . . . . . - - Paragraphs B.T STUART P. WBST Staff Correspondent of The- News Copyright, 1021 by News PuUUUlng Co. .MEXICAN OILS. Mexican Petroleum crashed' down ve points right at the opening. It esitated for a while and thn took nother downward range. - goinc hrough it previous low' at 103 by the end of the first hour and soon fter .selling at par. Pan-American t the same time hroke through its bottom figure - of 43. - This Bensation- 1 drop was the result or the surpris- ng enws overnight that th . House ommittee in charge of th new tariif had placed a tax of 3& cents a" barrel on crude oil and 25 cents a barrel nfuel oil. where everybody had been guring that" these products would be on the free list. It was pointed out of course that he proposed . tax on imports would encounter bitAer opposition and might be amended. Nevertheless the chance f Mexican oil concerns being shut ff from thp American market for the long time it would take oil prices o get way up again was counted in the immediate market. AMERICAN OILS Xaturally the prospect of Mexican and South American competition being exclud ed was regarded as a bull argument on the American oils. Yet. the action of these stocks was very peculiar. The first effect was quite a little rush of buying into Texas Company and Pacific Oil. On the other hand there was little or no response in Texas and Pacific Coal and Oil, in union Oil or in Invincible, while Cosden with its properties located in Ok lahoma, was conspicuously weak. The decline in the last named might have been set down as the sequel to an abortive pool operation started a fortnight or so ago. This operation came to griei be cause it misjudeed both the stock mar ket position of the time and the course of the oil market. Pacific Oil took advan ace of the jrood news, because its mar ket is in the hands of a powerful group who are bullish on this stock for a long pull, irrespective of present conditions n the oil trade, me importance or tne 35 cent import tax is indicated by the fact that had U been in force last month, stocks of crude oil instead of increas- incr 8.224.000 barrels would have decreas cd. because the total imports for May- were over nine million barrels. SHARP UPTURN IN RAILS. After the first hour came a sudden n-oour or buying orders into tne ailway list ana tnis ior a wnns furnished an offset to the weakness n the Mexican oils and profit-taking n the motors and other industrial I'he buying today appeared to be b- uted recognition of the good eitects which an agreement upon the low of the wage scale would have upon the ailway outlook. Northern Pacinc in which there was an uncovered rem nant of the short interest developed earlier in the month when a dividend ut was expected had a particularly sharp uo-turn. Among; thP non-divi- lend paying issues tne m. t'auis nau the sharpest rise, also because tjiere was a snort account sua outstanding in them. TO SELL GOVERNMENT WOODENVESSEL FLEET Washington, June so. The new Shipping Board has decided to finally dispose of the government fleet of 287 wooden ships, it was. stated today at the office of Chairman Lasker. Bids on the. vessels, most of which are tied up in the James river, near Newport News, Va., will be invited and opened, on July 30. Several unsuccessful efforts were made by the old board to sell the wood en craft. Members of the present board believe, however, that the ships can be used by some foreign nations in their coastwise trade. . At any rate,' the board is expected to dispose of them oneway or another, as it is held that they cannot be fitted into the homogen eous plan of the American merchant marine and the cost of maintaining them in idleness is heavy. EXPECT NOMINATION OF JUDGE TAFT SQON Washington, June 30. Although o hcial information 13 withheld, some of President Harding's closest advisers expect him to nominate former Presi dent . Taft for Chief Justice of the United States in the very near fu ture. In some quarters it was believed that official announcement of the se lection of Mr. Taft might be made today. There art many considerations entering into- the choice, howeve and among other officials high in the administration the belief prevailed that iio nomination would go in until after the Fourth of July recess of Congress All recent indications have pointed to the former President as Mr. Hard ing's probable choice but no nomina tion had been signed by the President early today. NAVY APPROPRIATION BILL BACK TO SENATE a Washington, June 30. With the Borah disarmament amendment ap proved. but practically all other Senato changes, particularly those calling for increased appropriations, rejected by the House, the naval appropriation bil was sent back to the Senate today for final action. To permit the meas ure to become effective before mid night, or before the beginning of the fiscal year for which it makes pro vision, the Senate will have a yield on ell amendments rejected by the House in its action on the conference repor yesterday. Adoption by the House of the Borah amendment, authorizing and request ing the President to invite Great Britain and japan to join the United States in a naval disarmament confer ence, was by an almost unanimous vote, 330 to ,4, and was preceded by only briof debate. FREIGHT DERAILMENT DELAYS ALL TRAFFIC Derailment of a freight train at Tvi Kiver, Va., delayed au Southern train doming into Charlotte several hour Thursday. There was no mail over the Southern from the north from earl Wednesday nif ht to nearly noon Thurr aay. Reports received at local Southern flees here said no lives wre lost in th derailment, but that the track wis badly damaged and a number of- freig p, car piled up. ANOTHER BUDGET MEETING Washington,- June SO. -rr President Harding will attend another budget meeting tomorrow, it was announced to day at the offices of Charles G, Dawes director of the budget bureau, . KILL BY BASEBALL Richmond, Va., June 30. William Elmore Smith, Jr., 17. 1st dead. a a re suit of beinr struck on the head by baseball pitched by Roland Galvin in a game here yesterday. EVENING UP IN COTTON TRADES After a Slight Bulge Prices rurn Easier Unfler Scat tering Liquidation By ST IT ART I. WTT Staff Correspondent of Th News. Copyright 1021. By w8 Publishing Co. New York. Juno 90 Th s tne cotton markets tav Wa th. position to even up long commitments in advance of the government's erop report tomorrow. This led to declines Liverpool as well as New York and the action of prices suara-KtAri thr.t recent buyers had been disappointed by the failure of the coal strike set tlement to start a Hull m. U- CUlUl 111 verpool and also by the failure of uw pnvaie eaa-june crop indications o Inspire a mor n.r9i hmo n.i the American markets. Prices here opened barely steady to a decline of 10 11 points in response to the ower cables, and aftr a siicriit on bullish private crop reports, turned easier under continued scattering linui- """J"1. uuuer contracts sold off to 12.0S before the enri rf iY or about 47 points from the high pric.; of, luesday and 24 points net lower. tn the last hour there was moderate covering by traders who did not care to be short fearing a surprise when th government's estimates are issued Under this demand the earlv. Inss were slightly reduced. CHAHI.flTTE niTihv Receipts today. 2 bales at-.:." .10- NEW YORK COTTON. New York, June 30. Liouidation for over the government ernn rfnnrt nf tomorrow and the mrrnnrhirip- holi days was reported in the cotton mai- Kets at Dotn JLlverpool and New York this morning. Cables were lnwr thai, due and the local market opened bare ly sieaay ai a decline of 8 to 10 points, with active months selling about 16 to 17 points below last nights closing figures during the ear ly trading. The disposition to liqui date scatteriner lonsr accounts was increased bv reports of further rainfc in the eastern belc h ut the marlr.t steadied around 12.15 for October on bullish private condition figures and renewed covering. One Of the crOD rennrts rmhlisherl this morning made the condition 6.5 snH th ro-luction in acrear 30 1 t--cent pointing to a crop of 8,100.000 bales. The other made the condi tion 6$. 3 against 6S.8 last month an,i estimated the acreage at 25,598,000. xraaing was quiet later in the morn ing under continued scattering liquidation. Reports of an unsettled feeli ncr in flip stock market, and the closine weakness of Liverpool, probably increased the dis position to sell out holdings of long con tracts but otherwise no special feature 13 connected witn the decline. October sold off to 12.07 or 25 points net lower and 48 points below the hierh nricA of Tuesday. The market remained verv nuiet during the middle of the afternoon. with October contracts rulinjr around 12.12 or about 20 points net lower. rhe average of nine private condi tion reports published within the laot iew nays is t.i. CLOSK M31V YORK FUTURES. New York, une 30. Cotton closer! steady. Open Hltrh Low 11.28 12.07 12.54 12.65 Close 11.46 12.17 12.63 12.73 18.05 Spot July 11.50 11.53 Oct 12.20 12.26 Dec. .' 12.71 12.71 Jan. 12.80 12.83 March 13.12 13.14 1196 NEW YORK SPOT COTTON New York. June. 30. Cotton: quiet; middling 11.60. NEW ORLEANS COTTON. New Orleans. June 30. Heavv liaui- dation of long contracts put the price of cotton lower today, the trading months losing 23 to 28 points in the nrst nour or business, July sinking to 10.90 and October to 11.58. The selling movement got its start from the continued easiness of the Liver pool market. Further selling arojjo when the weather bureau announced that the gulf hurricane had moved inland over Mexico iri the vicinity' of vera kiui. Reports that American mills nought 1,100 bales of soot cotton in this mar ket after hours yesterday srav he contract . market a somewhat better tone, shorts began to cover and inure new buying for lnog account came in. This checked .the decline and caused a smarll recovery. At 11 o'clock prices were at net losses of 17 to 20 points. s In the late trading the market was somewhat oversold and general healthy in a technical sense. Prices re covered slowly and toward the close were 12 to 13 points under the finals of yesterday. CLOSE NEW ORLEANS FUTURES. New Orleans, June 30. Cotton closed steady at net declines of 12 to 22 points. Open High Low Clast July .... 11.03 11.06 10.90 10.JS Oct. ........ 1J,68 11,75 H. 5S 11.65 Dec. -v 12.18 12.13 11.96 12.10 Jan 12.21 12.17 12..07 12.17 March 12.54 12.53 12.80 12.45 NKW ORLEANS SPOT COTTON New Orleans, June 30. Spot cotton steady and uncharged; sales on the spot 2,1-6 bales; to arrive 402. Low middling 8.75; middling 11.00; good middling 12.00. Receipts 10,211;-tto'ek- 459,167. LIVERPOOL COTTON, Liverpool, June 30. Spot cotton quiet; prices easy. Good middling S.25; fully middling 7.85; middling 7.25; low middling 6.26; good ordinary 5.v0; or dinary 4.'25. . Sales 3,000 bales, Including 2,000 American. Receipts 1,000 bales, all American. Futures closed eusy. July 7.53; Octo ber 7.99; January 8.20; December 8.16; March 8.32. Official noon closing: June 7.70 value. IRISH CONSTABULARY WILL BE QUADRUPLED London, June 30.. Forces of the Royal Irish Constabulary are immedia telv to be quadrupled, says The Daily Sketch. This . would . mean increasing the number of men in this service: from 13,000 to 50.QOO. Nowspapers of this city today took diverse views regarding tha probable effect of the refusal of H:v Jvmcs Crai the Ulster premier, io meet Eamonn de Valera, the Irisn reuuhUcal leader and Mr. de Valera's letter to Sir James, declaring that tha Sinn l"fJn could not accept the invitation of Jt'vime Minister Lloyd-George to a corterencs relative to Ireland. Some editorial com ment was inclined to be glooiny, r.tn- preting Mr. de Valera's assertion that the prime minister's proponl was not acceptable in its present torm as an indication that such a meati.i vaa un likely to occur. On the other nena, a mare hopeful view was not l:uKmg, although the uncertainty of the cvtlOvK was admitted. LESS THAN THREE PER CENT OF HITS SCORED Washington, June 30. Aerial bomb ers attacking the radiocontrolled bat tleship Iowa off the. Virginia coast yea. terday scored Itss than three per cent of hits. according to an official report to the Navy Department today from Vice Admiral Hilary P. Jones, in charge of the tests. Admiral Jones said 70 pombs were dropped and that two struck th Iowa. -s Aviation experts of th army and ftavy were gratified at the success of the scouts in loeafing the Iowa as quick ly thfy did and were not discouraged by .the Jow percentage of hits- Wall Street New York, June 30. Weakness of Mexican oils was the overshadowing feature at the opening of today's stcok markets Mexican Petroleum reg istered an Initial decline of 4 1-4 points, immediately extending this loss with an additional point. Pan-American Petroleum lost 2 1-2 and the "B' stock fell 2 8-4. General Asphalt, Atlantic Gulf. United States Rubber, Harvester, Canadian Pacific and Sears Roebuck also .were heavy. Domestic and European oils, notably Houston and Royal Dutch, were firm, and Cru cible Steel was strongest fo the in dustrials, rising 1 1-2 points. The reaction halted during the mid session, when buying of high grade rails became the chief feature. Coalers, grang ers, trans-continentals and cotton carriers were in demand at gains of 1 tq 3 points. Numerous speculative rails rose to the same extent. The closing was heavy. Sales ap proximated 750,000 shares. NEW YORK STOCK X45T. Last Sale. Allis-Chalmers American P.eet Sugar American Can American Car & Foundry . . American HI do & Leather pfd American International Corp. American Locomotive American Smelting & Ref, . . American Sugar American Sumatra Tobacco . . American T. & T. . . . . American Woolen Anaconda Copper . . Atchison Atl., Gulf & W. Indies 31 1-4 2a l-z 26 1-2 123 50 1-4 33 1-2 80 35 3-4 "2 7-8 :.s i-s 102 7-S -36 f..O 3- i 23 70 1-4 39 47 1-2 10 34 1-4 52 5 4 27 32 3-S-23 3-8 27 1-2 66 1-4 57 3-4 9 1-4 13 3-8 128 1-2 11 1-4 30 68 3-3 27 90 1-2 32 47 1-2 53 19 109 1-2 3 1-2 101 20 1-2 11 1-4 23 1-2 21 1-S 70 1-8 18 1-8 95 71 3-8 11 3-S 2 44 34 1-2 50 28 12 3-4 67 3-4 i 47 53 5-8 41 1-4 20 1 75 7- 20 1-2 106 3-4 76 3-S 7 5-8 33 , 24 8-4 53 1-2 8 . 117 7-8 16 3.4 53 1-8 53 1-8 . 53 1-4 . 74 7-8 48 43 1-4 7 ', , 27 1-1 85 . 29 1-2 . 32 1-1 6 33 , 105 , 25 1-2 . 117 1-2 7 . 50 1-4 Baldwin Locomotive Baltimore & Ohio . , Bethlehem Steel "B" t Candian Pacific . Central Leathre .... .... .... Chandler Motors Chesapeake & Ohio Chicago, Mil. & St. Paul Chicago, R. I. & Pac Chino Copper Colorado Fuel & Iron Corn Products Crucible Steel Cuba Can. Sugar Erie General Electric General Motors Goodrich Co. Great Northern pfd Great Northern Ore ctfs Illinois Central Inspiration Copper fnt. Mer. Marine pfd International Paper Kennecott Copper .... Louisville & Nashville Maxwell Mtors lexican Petroleum .... .... Miami Copper Middle States Oil vlidvale Steel Missouri Pacific New York Central N. Y.. N. H. & Hartford Norflok t Western .Nortnern Pacihc Invincible Oil Oklahoma Prod. & Ref Pan American Petroleum Pennsylvania .... People s Gas Pittsburgh and West Va "ay Consoliated Coooer Beading .... Hep. iron & Steel Royal Dutch. N. Y .... Shell Trans. & Trad Sinclair Con. Oil i Southern Pacific ...... ........ Southern Railway Standard Oil of N. J., pfd Ktudebaker Corporation 1 ennessee Coppor .... ...... Texas Co. Texas & Pacflic ,..... Tohacco Products Transcontinental Oil Union Pacific U. S. Food Products . .' 17. S. Retail Stores ..I. U. S. Ind. Alcohol .... .... U. S. Rubber .... U. S. Steel ; Utah Copper YVestinghouse Electric Willys Overland Pure Oil .... Atlantic Coast Line Coca Cola .... . . Gulf States Steel Seaboard Air Line Sloss. Shef. Steel & Iron Virginia Caro.. Chem. American Tobacco .. American Zinc General Asphalt MORRIS BILL IS GIVEN COMMITTEE SUPPORT Washington. June SO. Favorable re port on the Norris bill to create a one hundred million dollar government cor poration to promote the exportation of agricultural products was ordered to ray by the Senate agriculture commit tee. Chairman Norris was instruced to urge the Senate to give the bill a promi nent place on the calendar before the agreement for the three-days' recess is adopted. Democratic members of the commit tee gave notice that they would oppose the provision authorizing the corpora tion to purchase products for sale abroad. Thev also said they would op pose other provisions on the ground that certain functions proposed to bs granted to the corporation now are per formed by other government agencies FOR HIRE AUTOS TO PAY SPECIAL U, S. TAX Drivers of automobiles for hire mw pay a special tax .to the government which is due Friday, the tax bei-v based on seating capacity of the ma chines, according to n announcemor I of the United States Internal Revenu Bureau. v Special Federal taxes on business and amusement p!ae!, also are due Friday. This includes theaters, c;r cuses, billiard parlors, ghooir. gul leries, bowing all?. pawr.brorfrs. manufacturers of ft, led " chelae, a.lul terated butter, and Kuxed flour. The taxes must be paid on I f-t' tn July 1. unless this la cion speca; penalties will be inflicted by mi.- gov ernment. Many of those liable for spo cial taxes have not yet filed their re turns to the Federal yovernmen, Information and a 'sistanc1? in r.vik ing out returns ma' be obtained at th local internal revenue office in the prst office building, ASKS SIGNOR BONOMI TO FORM NEW CABINET London, June SQ,-King Victor Em manuel, of Italy, is understood to have asked SIgnor Ronomi this morning 3 form a new cabinet as both forrer Premier Gilotti and Signor Deh'coia, president of the Italian Chamber of Deputies, intimated their inability so to do, says a Central News dispslon from Rome today. Signor Bonomi was roinistiH' yf the treasury in the Oiolitti ministry vwhiq'i resigned June 87,. . TENTATIVE VALUES PUT ON RAILROADS - - - s Washington, June 30.-rThs winter state Commerce Commission t6day in nounced the. following tentative valua tions of railroads: Th St. John's River Terminal Com pany (Florida) $1,880,785. Gainesville Midland (Georgia), $1,174, 65. The Washington PotomacJ& Chj peake, $216,656. ..... Grain, Market Copyright 1821, by Jtews PubllaMns Co. Chicago?" June 30.-r-Wheat market was weak and most of the gains, of yesterday were wiped out. The elimination of the short interest the day before, left the market with decreased buying power. The market factors were more bearish. There were general showers over the Canadian west, enough to temporary relieve the situation. Scattered showers were shown over the Dakota and Montana belt and local shoers in western Minnesota. Of reater importance was the hedging- pressure ih the pit at the start indicating the. disposition of the country to sell wheat. Illinois offered moderate amounts to ar rive during the session. The lower ex change market was a handicap to export business. Muling demand was fair. French drought remains unrelieved. Cc rn worked lower with wheat. Most cf the business consisted of changing, hedgers transferring meir commitments to more deferred deliveries and ihere was some selling of July and buying ff uecember ny stock yar t interests, crop ?onditions is excellent, beneficial rains be mg reported in spots over the com belt. Elevator strike will be in f- itct tc morrow but operators .ayin a few days they will have sufnclei.t men to tak-j the place of their old employes. Cash corn basis was unchanged. . Oats tollowed the trend of other grains. '.'hanging' commitments from the July to more deterred futures constituted much of the days business. Shipping demand is slow. Cash basis v. as 1-4 cent eas ier. In provisions trade wa? mostlv in lard. Buying by a leading packer caus"d the bulge in prices noted. Export cieinand lor lard lias broadened. Chicago. June 30. Prospects of cool weathe and rains in the north west led to declines in the wheat market today. Opening quotations ranged from 1-2 to 1 1-2 cents lower. Corn was weakened with wheat, op-. ening 2 cents lower to 1-1 cent ad vance. Oats reflected the downward course of other cereals. Hisrher uuotations on hogs made the provision market firm. Wheait close J hrm 1-4 to 1 1-4 cents net higher. Corn closed unsettled 1-2 to 1 1-2 cents net lower. CHICAGO CASR GRAB. Chicago, June 30. Wheat, No. 1 hard 1.18; No. 1 hard dark 1.41. Corn, No. 2 mixed as 3-4 to 60 1-2; No. 2 yellow 59 to 60 1-2. Oats, No. 2 white 3o to 56: No. 3 white 33 1-4 to 34. Rye. No. 2, 1.22 1-2. . Barley, 55 to 62. Timothy seed 45C to 600. Clover seed 13.00 to 19.00. Pork nominal. Lard, 10.50. Ribs, 9.87 to 10.87. - CHICAGO CHAIN AN1 TROUUCB. Op3ii High ow Close WHEAT July ;i.22 1.24 1.19 -1.24V; Sept .1.22 1.23 1.18 1.23 li CORN July 61 62V4 6O14 60$i Sept 62 63 60 614 OATS July 35vi 34 35 85 Sept. 3S 3878 37' 37 ?0 UK July 17.95 17,95 17.75 17.75 Sept 18.00 LARD July 10.50 10.55 10.60 10.5C Sept 10.85 10.90 10.85 10.85 tlBS July 10.45 10.47 10.40 10.10 Sept. 10.75 10.77 10.67 10.C7 TARIFF AND REVENUE BILLS TO BE FAVORED Washington, June 30. President Harding is understood to have taken a firm stand today during a conf , ence with some House leaders that no legislation should be attempted that would delay enactment of the . tariff and revenue bills. The President was said to be keenly solicitous that both the Senate and House give priority to those two measures and expedite to tion on them. Re-apportionment of representation in Congress on the basis of the 1920 census was discussed and the execu tive was said to nave expressed r.o opposition to passage of a re-apportio.i ment bill, provided it would not inter fere with the tariff or revenue legisly tion. v After the conference the House cevi sus committee decided to report a ra apportionment bill for. action at this session, but agreed not to determine the proposed size of the House until July 14. The committee was reports! to be practically evenly divided nn propositions to retain the present siza of 435 members and to increase the membership to 460. VIRGINIA'S GIFT TO BRITAIN UNVEILED London, June 30 The Bronze copy of Houdon's marble statue of George Washington, the original . of " which stands in the rotunda of the state capi tol of Virginia at Richmond, was un Veiled in Trafalgar Square today the gift of Virginia to Great Britain. The unveiling took place in the presence of a large assemblage of spectators. The gift was accepted by Earl Cur zon, British secretary of state for for eign affairs, on behalf of th British government and people. Miss Judith Brewer, of Virginia, pulled the string which released the Union Jack and the Stars and Stripes, forming the .veil which covered statue. Beside the members of the Virginia delegation, headed by Professor Henry Louis Smith, president of Washington and Lee University, which came to England to make the presentation, others present at the unveiling includ ed Viscount Bryce, former British am bassador to the United States; Lord Desboroligh and-J- Butler Wright, coun sellor of the American embassy, rep resentiig Ambassador Harvey. WOULD SUCCEED DEAD FATHER IN CONGRESS Chicago, June 30. Mrs. Winifred Mason Buck, youngest daughter of the late Congressman William E. Mason, today announced her candidacy to suc ceed her father,, who was congressman at-large from Illinois. Mrs. Buck is the mother of four children. CARPENTERS. GO TO JOB A group of Charlotte carpenters left Thursday morning for Charleston, West Va-, where they will take employment Lat the carpenters' trade for several months. Among those in the party were J. H. Disher, W. J. E3tridge, Alonzo He'lms. F. H. Robblns and W. T. Helms. They expect to be away until the late, fall. NEW BUILXMNG AUTHORIZED. Washington, June , SO. -The Intsr state Railroad Company was granted permission tdday by the Interstate Com merce Commission to issue $3,000,000 capital stock for the purpose of build ing an extension from its present ter minus at Norton, Va., to connect with the CaroUnas, Clinchfield & Ohio Rail, road, a distance of about twenty-five miles..-; - v ,s Live Stock Copyright, 1031 by News Publishing Co. Union Stock . Yards, Chicago, June SO'. Sellers have been looking for light runs of live stock at the local market for the last half of the present week. Supplies were "cut down in all branches of tl.c trade today and values gained. Bit pack ers had 600 cattle. 3.200 hoes, pnd ?.00 sheen and lambs-forwarded from 't'.vrr trading points today. Comparatively Mglit tuns were also reported at other western points!. j ' Receipts of live -stock at the local yar is were estimated at 6,000 cattle, 28i000 hogs 9,000 sheep and C.000 calves. Cattle; All .graces of steers '-'Id well today and values were moatly up 1 - t 'io cent. Choice Anrus animals reign ing 1264 pounds made $8.50 .whil top earllngs were still Quotaoie at 10 10 $9.00. Plain lots went at $7 and be. low. Cows and heifers showed a gam of 15 to 25 cents. Canners were strong. f,-ood lots going at $2.00. Bulls also wer more than 15 cents nigner, Desi ooiognps going at $4 to J4.25. Calves were steady to strong. . Bulk or gooa veaiers wem et $8.50 to $9, with plain stock a.t $8 down. Outsiders paid up to 59. ."(. Hogs: Values were 10 to 10 cents nign er.' 'ims gain was mane uy an siuc! Ton l-:Erht hoes went at $9 to $9.25, while heavy butchers were piacea ai o. ia 10 1 . . . . Aon- $9.05. Rough packing nogs went at $7.75- to $8. Pir-s were steady, gooa lots going to $8.75. Sheep: Sellers were rinaiiy aoie 10 cnecu the decline in values for live muttons Prices were steady today. Choice Idaho stock wentat $10.50, with good natives at $10.00. Some prime etves made $4.25 but single animals sold as low as ou cems head. . . CHICAGO LIVESTOCK. rhicntro. .Tune SO. Cuttle: Eeef steers fat stock and buns mostly 10 to 0 cents higher; eftrlv top steers 8.50; bulk 6.7-5 to 8.25; bulk fat cows and heifers 4.25 to 6.00; canners and cut ter cows mostly 1.50 to 3.00; bulk boloernas 3.75 to 4.25: butcher bulls 4.50 to 5.50; veal- calves steady to strong; bulk S.50 to 9.00; stocuers ana feeders steady. Hogs: Active, 10 to 15 cents higher than yesterday's average; top 9.25: bulk 8.50 to .9.15; pigs steady; desir able pigs around 8.75. Sheep: Mostly steady; best westeri; lambs 10.50:-too natives ' 10.00 to ship pers; few strictly choice held higher bulk 9.50 down; culls and common kinds extremely dull. YORK IS LOOKING FOR GREAT FOURTH York, S. C, June 30. "Doctor" Muns, who said.. that, he ...didn't so to war because he was too old and t'?o at but who did his best registering wops in an eastern town and who wants to help celebrate the. Fourth here, blew into town this morning. He led the advance guard of show folks. ,V:onCi sionaries and other amusements whieti will play here Monday in connection with the first reunion of York county service men. The "doc" who says he sells medicine when the show game ain't any good, brought along a merry go-round, a snake show, "a striker, a blanket game and a ' few other attra tions and incidentally put out the word that many other showmen are bound for York for the Fourth. The eemmnn der of Meech Stewart Post of the American -Legionunder whoae auspws the celebration here Monday - is to be staged immediately secured - quarters for the show people who are now sit ting on the world waiting for Old Sol and July 4. Everything is all set for the biggest celebration the county seat has known in years, The mayor and' city council have decided .to let. sma.ll. boys ..sho,tt fire crackers on the Fourth, something that has never been done before, ac cording to the oldest inhabitant who ;1 lows that Christmas is the only time to shoot fire crackers anyhow, A feature of the programme Mon day night is to be a dance right on the courthouse square. The; Tirah band is to furnish the music and Less Cain and Clyde Smith, clerks, who haA'e danced with almost every pretty girl within a radius of 40 miles,- are going to call the sets. - . Aviator Shealy wires that the old flying machine is in good shape, -and that he will hop to York from Winston-Salem Sunday afternopn. Congressman John J. McSwaln, vt the Fourth South Car.olina district, and Capt. Oscar K. Mauldin. of Greehvjlirt, the speakers of the day, are expecto:! to arrive here Sunday night. Tby will be the guests of Mr. W, D. Grist, editor of The Yorkville Enquirer. The programme committee ' bought rain insurance on the day yesterday. Howard McMackin. manager of the American Legion Larrupers, also in sured the baseball game with the Clov er Town Rounders, a feature for Mon day afternoon, for $200. The old town is looking forward to a real big day. STATE'S DENTISTS TALK OVER FEE PLAN An informal dental meeting was held at the Selwyn hotel at 5 o'clock Wed nesdayv afternoon by Dr. W. R, Hard in, of the United States Public Health Department. The subject of , dental compensation was. taken up in detail. At the conclusion of Dr. Hardin's address, an organization was formed to he a part of the North Carolina Dental Society. Dr. D, T, Smithwirk, of Louisburg, was elected president: Dr. H. N. Walter, of Warrenton, secretary, and executive and ethics committees appointed. The members consisted of dental examiners. . A plea was immediately made by the newly-elected resident for the organiza tion to become 100 per cent efficient patriotic and ethical. Loyal support to all government agencies carrying out instructions of the Public Health Department was urged. REALTY TRANSFERS The Turner Land Company to John Wylie, for $2,900, a lot on the Rozzelle s Ferry road- - ' O. E. Wilkins to Mrs. Lula B. Wd kins..for $1Q0 and other consideration, a. lot on Elizabeth avenue. Rawlinson Myers to Charlie Dunn, for $400, a lot in Cherrytown. - M- E. Walters to A. D.-Neal and-F. E. Harlan for $l and other consider tions, a lot on East Boulevard. Paul Arrington & Co, Manufacturers Cost Accountants Audits Systems Investigations 217 Piedmont Building Phone 653. Charlotte, N. C. I Curb Market L 1 ; D By STUART t. WEST "tatt Corrcriiondcnt of The New. Cojsrrltfht, 121, hy News Publishing Co. New York. June 30. Oil shares were leaders on the inside curb exchange. At the start there was considerable discrimination, traders bringing pres sure against the foreign companies which will be affected by the tariff on cruae 011 ana causing an easier tendency in this group. Later, how- i"" tenuis B.ienueo 10 some o-i the domestic companies and the entile ' ivuu iew BAuepiipns, moved 10- 3 Trl 1nntr IaI'aIc T V, ,4 n 1 . ' y - -vvv . . -j. i uvi.iiiiiiia icu- fienCV An t Vi ntnnlr nvnl, nn..n contributed to the trend of the cuib during: 'the afternoon. wiv.es service old common stock xves n mod rate supply, with bids scare. inn fifl A rARlllt the urn a a One timft nf njirlv i -n nlw a tv, bankers shares were fractionally lov- ... i oq. uecunea a point but rallied slightly from the lowest on covering by shorts who sold several ys. af' th naw developments on w.o ia.uu Biviiiif mee snorts tne op portunity they had been waiting for. - ... .'tv.li v. i r v,uc UI the leaders yesterday, was under pres sure and declined. Some of the selling Was crp.fl it H tr i-ir-( tl-; Syndicate, Siroms Petroleum, Internation al xcuuicuiji aim omens, arier noidlng comparatively well for a tim?. became easier and lost a fraction. Glen Rock, un der moderate selling orders dropped to a MO w 1U vv s CWl U.. Dealings were comparatively light in most of the mionallQn .w auwwwMWM0 AkIOUCO A11U prices were reactionary. Glen Alden Coal .. n : 1 11 . mmoicu Dewing iur an nour or more, but yielded during the afternoon when the demand had been filled. United Re tail Candy also was down a fraction, and smaller losses were shown in Car Light- uik rq rower, ana isweeta uompanv. There were a number of active spots In the mining department. The tone was easy, with lower prices the rule. Bonds were comparatively quit with Irregular changes. Bond Market By STUART P. WEST New ffork, June 30. Further gains were the rule to lay in. the railway section of the bond list. This move ment like that in rail shares was. due to the expectation that award of the labor board on the wa-4 uuostion would bts. accepted. Besides this thft buying today, as has ben the case all week, had in view the easing money conditions and th,s Tenlinti- of certainty . that eventually this must tel! upon investment prices. . There was a noteworthy rise In West Shore 4s which sold vesti-r-J:iy at' 68 3-8 and today . at 70. Thore was quite a little demand for Color ado and Southern 4 : -whlm car ried them up to 7S 1-4. St. Loiis and San Francisco Issues were all strong with the income bixes a half point up to- 52 1-2 with a similar sain in the prior lien A's to 60 1-2, and with the adjustment 6s at 60, a against yesterday's low of 65. Rcadini general .4s rallied to 73 8-4, up two polnt3 from their reeent low. Erie general 4s were active and strong UP to 41 as against 40 1-2 yesterday. Atchison 4s rose a point to 75 5-8. a remarkable move for a security of this sort. New York Central 6s which have been hardening steadily, ull week, rose another fraction to 89 1-4. Bur lingtan 6 l2s were stronger at 96 3-4, and Chicago and Alton 3s recovered from 41 to 41 7-8. Very-little change occurred ln the industrial division. Goodyear Ss sol4 at their low of 98 1-4 and subse quently rallied. Rubber 7 l-2s were up a fraction to 98 78 while Cuba Cane Sugar 7s were weak at 65 1-2. Liberty 3: l-2s dropped off while other liberty bonds were either unchanged or slightly higher. City of Paris 6s made a new high at "99 S-4, Belgian 8s were up a half point to 98 3-3, while Denmark - 8s lost , a half point. CONGRESS' PROGRESS SATISFIES MONDELL Washington, June 80. The question of speeding up work in . Congress and greater participation in ..the activities of the House by new members were discussed at" a conference: last night of about" "61) 'Representatives' who aro serving their first , term. The meet ing was. called because 0? complaints that Congress .. had not accomplished what it should in .the way -of legisla tion and was considered-" as a semi-' protest on the part -of the new mem bers both for that teason and for tho reason that 'they - had not been per mitted to take- a greater ' part in House procedeings. No action was taken. " ." ' Representative Mondell, of Wyoming, the Republican leader, addressed the meeting. He told them there was no cause to be uneasy. He said he realized there was a feeling in the country that Congress was delaying action on important legislation but declared Congress had done all it could have done, in fact more than any other session in the same length of time within his memory. SCOUTS TO ROTARY CAMP Salisbury. June 30. About forty Boy Scouts of Salisbury left Wednesday f co Camp Rotary at Palmervillo for a nine day camping trip. These scouts are the first body to enjoy the camp, which was recently established by the Salis bury. Rotary club. EVERYTHING In High Quality BuildingM ate rials ' THERE are but two ways of doing a thing the right way and the wrong way. We know, that statement is as old as the hills, but itVso very true. TKe right way is to use the best. Substitutes and in ferior materials will al ways lead id trouble. CITIZENS Lumber Company South BoulevarcJ Fhones 3472-3473 0