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Show TIIE SALT 'LAKE TRIBUNE, WEDNESDAY MORNING, iLARCII 28, 1923. of a law recently enacted, vtikh he aald provided that the federal reaerve slutti not diacurrtJflrtaton' paiK v eel men t Mcud covering m e or drawn ftfr the of carrying on 'trad In atm k pufpoee booda or other eecunttoe, except bonds or notea of the government of the United Staten. Adherence to troch a policy, he added, would prevent speculative Inflation not only on the stock exchange, but in the building trade and other ihdus-tne- a. 4 .AdReport of. Plan vance Rediscount Rate r Made Without Sanction KCW TOES CUES MAE SEE Total anle of atack 74ft 900 bara ft76?,OUO. Total Mies of bund NEW TORS, Marrfc 27 Fallowing Is the official hat of traaaacttaaa ee tho New York Curb fiarfsaago, ginag aU Stack sad bKkl traded la HTKIAlJ I SIM jfea ire Matter Has Not Been jtligk lUiw.tt . Dis- Both' High and cussed; Change Will Come When Warranted Low Show Issues Priced Tendency March 27. The fedreserve board. In conjunction with WASHINGTON; eral - Prices of stocks active os tbs Balt Lake Block and Mining exchange reacted to sloppy market conditions which prevailed yesterday. Reverses of a slight nature were sustained by both high and low priced issues alike. kfichlgaa-titstrader Heading Quincy, softWet Toledo and New Michigaa-Utah ened under selling. dropped from a high of Sc to a low of 11 c and recovered to a close of 81 West Toledo was forced from Jdc to a low of where the price braced and closed at Me. Howell, with (KH) shares sold at 4c, manifested better conditions than most of the A Ha Woodiawn was firm at Re. Walker traded desultorily at $3 70. Plutua hit a new low of 42c. New declined Quincy, on heavy selling, to a close of (He. steadily from Nearness of an assessment was assigned as ths reason for the drop. Quotations follow. mtui rnxKS. the goremons of the twelve reserve tmnkn in eemtannnal confer. " enoe meeting her moted today to curb the flood of rumors concerning possible cAanges In the board's policlee and reports of contemplated increases in h, the rediscount rates of banka In answer to more than 100 telegraphic Inquiries, the board categorically denied any rumors with respect to Its intentions or actions, one and all that it would make Its own statements when such Here required. - The message tovPed In quirers to supply the board with Information regarding the source of the rumors, adding, in substance, that it would not waste its time in denying all idle rumors. The board sent broadcast a request for Information as to the source of many rumors which have been current in the financial world forecasting action by the board in relation to present financial conditions. Making a blanket denial of any rumors with respect to its intentions and action the board telegraphed in - reply to the many Jnqulrtaa-- U has received that it wtrntd make its own announcements when the time cam MINIMI. and that no one was authorised to AugUf Area torp g a. eoeak for It. As a result of the meet- Arlj titobe ing here of the reserve bank governors, Kl Lcdra many such inquiries have been re- Bm a Moot Oarp.. ceived, most of them having to do with Uaiaverta Mining .. rumors of a raise in rediscount rates. Caledonia Mtntog C There seemed to have been no definite reason for the report, officials said, nor could they explain, they said, why so much significance was being attached to ths conference of the governors here. It was made known authoritatively that none of the twelve banks has yet filed with ths board an application to Increase its rates, and the consensus of opinion appeared te be that none was in immediate contemplation. Changes in business conditions and the general financial situation, however, It was explained, may bring changes in rediscount rate but how soon those changes would come was declared by reserve board members to depend entirely on Conditions. With respect to the meeting of the governors, it was stated officially, that thus far there had been no discussion of rediscount rates. The conference, it was added, devoted itself until late today with questions Involving banking operations solely, A general exchange of information for ths purpose of solving operating problems had been the .order In previous meetings. Farm Credits Considered. i Ths governors did confer, however, with members of the farm loan board at the afternoon session but Commissioner IiObdell of the loan board said later that the discussion had embraced only the administration of the new agricultural credits act which is under supervision of the loan boardr although its operation has only indirect effect on the reserve system functions. Although It was denied officially, there were indications that the conference also has talked over the question of interest rates which the loan board will establish on loans under ths new law. The governors meeting will continue until Thursday, probably although it was said it might complete its roti tine discussion tomorrow. Herbert Myrtck. of Farm and Home, has made ntihllo a letter he wrote to Secretary Melfen, In which he declared the vast agrieul-tunindustry of America relies upon fair and Just treatment, aa a result f the consideration which is being given to the ftlioia sublet of fihanco" at this week's conferences, During the recent weeks, he said wtocks and bonds on the have been greatly inflated. exchanges Wuns in many lines have been advanced. iTiree have been Jark&J up for what ths farmer have to buy: there has been no eorreepondingauvaaoe la prices for what farmer have to sell Capital and labor in other industrial are shoot Id rfeP'ardJeea of agricultural' the recent and prwa nt unbridled InflaUon on the stock exchange appears to have been facilitated by ths rediscount of specula tom paper through ths federal reserve, Mr. Myrtck urged strict enforcement editor-ln-ch- U ...... Iroa hmg Kevapma Kennebec Uttle May Lshl Tiatie Mining boot.. Reported by J. A. Hogle A Ce) 14 ..... ..... Ji0 .. lost . Park ttak Plates Prtnra Op .... 0a Petr Me JflSft 1041 6ft Vfw W Bell Tel Piocha Brietel Price Mining Provo Rout .... ..... ..... 1W1 T Otis ftteel te 1M1 , PM O A Klee (is 1M2 Pae Tel te 1052 ainelslr Oil 7v 107 S O Cal T ,IW, 11 1RM .... .... ....J 8 Rub te HN7 0 bNTfi Vt Csr Chem To W 0 Tel OHa ll Morgan fanning . 1W7 7s .... IMA ... 14, bdy, Et Merck 27. EUndard 79 7s Art; future 74 te. 1X0TTE. MTVHEAPW.TS, 2T March ehanged to 10c lower; fkwlly 0 70 Bra 20 00. ). , ... ,, ...,M . Coal ... Coe .... tern Pacific Rrndicate Silver Kisg Silver Ring Stout Mine Swanwa One Silver Shield So I roe Blossom TYr Baby Tintie Central Tilth Standard Uncle Sam T tab Coe Union CMefw- Whirlwind Went Tnleda Walker Mieiag Woodiawn Same Rock Ledge fkel .... .... .... .... . ... .... . Sa Colt Mete la, 1000 at 5c. Howell. 0000 at 4c. Little Mae 500 at tVfcr 1 IX)5T0V, 91 lte; future east, Ti 2t te; future spot, Insd, spot. 27 15s; future Els A 35 Is; future .... .. .... .... . ,. VET AX. MAEKET. YORK, Merck 27 Oopper, mey; electrolytic, epot end futume, 17417 Tin, eesier, epot aed awir by, 4700: future. 47 97 Iron, eteady: prices mehaaged. sreadv; spot, 9 23 Elite, St. Issli epot and seaeby delivery. 7 90 Attiwod spot, $M 75. Wt. , .... .... .... , .... . . MAE... Erap Has A Fuat 1087 PUk Robber Be Goodyear T A Rub te 1981 do te 1M1 Humble Oil Ref Mg . Kelly Rawing Tire So 1MI Kene (Copper To 1030 Me Recovery Held to Indicate Recent Drops Have Restored Price Advance tl . 7e 17a 214 37 5 ts d. L 6d. Uw Isa Says Wr 1000 Qntsey, at Site; ! 100S st ETAPOEATED PEU7TS, MWP TOKK, March 27. Rvepomtsd as-p- l dull; prase' elew; sprtcet firm; Peaches, easy; relvia firm. ostk Btela. tte. soon st Mr: 100 at tie; 100 st Hc. Wood laws, 1000 at te. TWWSTBn. 100 at - it St1100 st st st PriM. Oes 100 West TVrteOo. 100 patent TKeOe: CIXSC(0. (Vtembei.SrT.il. M0 at Ms, MOO at The. recorded in the office of the County Recorder of Salt Lake dnrinv. the year 1922 by the five leading companies. Connty 1073 Mortgages recorded by Tracy Loan 318 By onr first nearest competitor & street It may even be asked, with show I TQDAY A RfflARXABLE CAST THB LKADIKO rCTBUHS. House Peters . Claire Windsor Gaston Glass Myrtle Steelman c, 1- 3- -4 Mildred June Rosemary Theby Baby Richard Headrick $. t-- c, SDtr Hid. HaaAr Tnit Draeret vtm 155 Trwtf UQotei OUnaibla 101) thee-pric- 14 no a no Ne. yel- No. $ Bn. $11,111. $10 ooau e. mim A story of disillusionment in a house that was not a home, though an innocent child brightened its days. Three More Days! tns 12:30, 2:15, 4, 5:4L 7:30, YOU HAVENT SEEN POLA lEGfll YOU'VE In hi latest comedy BEEN The Della Donna Ceosler Jumper If you have read the book and seen the play, you will know The idol what to sxpect. If you hava not, we win say that this la a pictura for adultf. Felix Comic Cat Cartoon Pathe Neva uaual good more aol mualo-ov- CUNARB ANCHOR HAUL CArmSS THE CHRISTIAN Ackerman A Harr la THALEBOS MONTE CARTER CTBODS NOETOH A KELHOT A ST0EY CT.AUK Bull and Bullets MAJOR RHODES Lively Revue. ADAMS A (lUm, VO Drummond Thrilling Melodrama Bulldog CHOY IJNO POO TRIO PANTAGES 148 00 210 00 S I'JILKES Bert Lovoy Circuit Trust Company A atory of Soeletyo most dangerout ' KHEMiMOc, 15c, 25c ......a, .... ........ j.. 0Ufw t tl TTTSCA1IXA oo - 00 to the Inch) JT Lake OUy. ALL FOR WE WILL SELL 600 Wa Fargo Oil Q ar aotlvs tradara 71 cents In FARGO OIL and solicit your, buying and celling orders RALPH A. BADGER & CO. BROKERS 1$ W. Pnd south Salt Lak Was. city, Utah 3330-- 1 evROPs to ENGU.N0 vmeshi I TO Everything in Hardware cents Be, year local agmo, Olfioaa FRANCE fOmbeertf . CERMANT OfambwR 1 M,r SSL'.M'C J lm 15 Jty M A eg yiTitL1 BAJ.1.IN ALBBkT tmalitra trip July WHOLESALE EXCLUSIVELY Automotive Equipment, Mining and Industrial Machinery Thesi&att Lake Hardware Co. Remember cup location one block north of Short Lin Statlbn, Street Cara Nos. 18, 18 and pass sue deer. 7 hakbobo dibect Iw BUY 7J BUSTED POWER & LIGHT PFD. AT 97 NET AnrrattM do te IfHT Brvtil to iw0 (By do te Htel . dote iws Boraoo Airra JC5, RALPH A. BADGER irjd rivAbirei 4 t'wteo Dovt do te 1929 18 fV. Pnd South - -- r ' Waa. cn & CO. 3339-- 1 do te 2P Norwar te omall Ho 19na SH 7 1901 ifrj di) PUTS AND CALLS (la rev) IMS do SUft 1H Pri Ortrana te Ss Paolo fto do te 1907 do Irf ..... 1915-4- 191 1907-4- Loos) 193 .... im ........ into .... TXrBPEHTUrEa any S4YAVKAH. Oa, Marrb 2T Tanwatt listed Block of X1 Y. Smm r.xchaoge. 94 ho further riak. Move of $ points from firm. 149; aa) receipt te; abip- UK; a tack, 29J9 option price gives you opportunity to Roam, firm; aalc 177; rescript take $109 prom; 3. $309, etc, Writ 1104; 2430, atoclr ahipcavot 4,47 for Free circular. B r M, SeM, arrjfi Qaof WQ, R, BARKER A CO., Broad It, N. Y, 8 00; VW, A te. $49 to T $12$ controls 199 a ham of zTi ALIA (Mak! Mitrlp i July 4 Balllaat .from w. ftllh N T. HI P. A. L, 171 W. Kaa-MiBt, Chirego, or local ateam-,bll agents. ' .10. DAV fe 5s$ ' do te on the present purchase price, is safe and dependable. fHn rOBFHOIf 60YZ3LHVE2TT BONDS, by J A. Hogl A Rid AekM (Aa 10 UTAH UTAH ROWER A LIGHT ia one of the bent stocks we know of for an In vestment. It pave more than 68 appUoatlm. w write Ml Xaitat Street, 8ea yraactme, g Berea. of navigation. Kwh Paggl, 4Pf Weal Pint Booth j Z. A. Shew., Hotel Utah; Amer-inExprvoa Oe., 30 Writ 8eeeod SoeU Stnet; t. a. Tmalinsoa, Wilaea Betel. Salt ' 100 Trust Company Tracy Loan &SERVE THE PUBUC Fargo Oil Q J. (sew) Via Halifax. efemmer. if. Lurm ff Relume . . . March 21 red estate in Salt Lake Connty in a sinris year than onr nearest competitor unless 'our methods were right? - 600 91 SCYTHIA Apr 7 0ASMAM1A Apr. 1 IU7 1 Jbd 10 CABOKIA ft an f ..May Beeton t Cobh (qutekstova) aihd Liverpool LAC0MIA dev) 7 If May Apr. SCYTHIA (anr) . Kay 6o fan 5 July ft H. Y. to Leedeederry TtfSCAKlA (sew) ..Apr. 7 My line 8 COLUMBIA Jun. .Apr. It JUy Ak STRIA 30 Key June 13 .........Apt. 0AKEB0V1A Apr. 83 Key 88 June 23 T. te Plymouth, Cherbourg sad Xmdna $ AVIOKIA -- Apr. 3 AMPABIA pr. It ABTOKIA 31 ,.Apr. AIBAXIA -- Apr. 3 fuse 8 July T SAX0HA IP 80 Juae K.y Aug. 4 Bow York fe Medltemaeaa Could we make 755 more loans on WE WILL BUY Kr JUr. TTBBKES1A . . .Apr. 1 Kay 33 June S3 Y t Cobh (Qaaesatowa) mad Liverpool L a d I so Matinees ovary day but bat- urUy nd lundijf.,.,,, Iloto Amateurs Friday night 400 ORGANIZED Cherbourg and Smtbaaiptini Apr 19 May 1 Hty 23 29 Apr. IT May 8 Apr. M May It June 1 Cherbourg and H.mburr-- AOVITAma If AVBETAMIA BEBIBQAKiA B. T. te Plymouth, freight mUlBg, BIGGEST SHOW FOR tho MONEY weapon VAMPED" A riot of fun -I- - (Sosls te If. T. By onr fourth nearest competitor 200 DONALDSON ANCHOR ao 8AX0KIA MUSICAL COMEDY CO. onr second nearest competitor 255 By onr third nearest competitor -- I bargain seeker e Pathe News 282.00 Jj of-th- Her First American Picture. 00! 01 SEMOli LARRY TILL Olrwotlon 153 00 no oo 2 ooj 22 ... iUO Utah Natl af Orte., 140 frit o fird Utah Rav f induntrSai. 8TO ka lord, Af) Bid. lAMfd. QO a ha 1- ( $l.kei.2; alnt e, iw on Natl Copper tecurttv HUt Bisk Utah Ntetft National L tab RavUtff A Trust Walter Broa Baaterv Eteaa Ravings A Trust Q DOTATION k. Whits, 44p43Ke. Bye. k 82(U. BtrlejC 20T1. Timothy-seed- . JSOOfMSk Clew seed. $13.00US.M. Pork, eomlnaL focussing of financial attention on the Incident would have happened If the market had not already been declining when the conference was called to order. The days reversal of form was not restricted to the stock ex, change It was equally emphatic on the equally speculative cotton marafter having ket, where 31.30c to declined in aweek from 23 75c, went back in a day to 2S 26c. Tke market for investment bonds did not move similarly. ISxoept for a few highly aperulntive bonds, ths recent hesitant attitude continued. In particular. United btates government bonds declined to the lowest prices of the year, some of thorn, notably the fourth 4 touching the loweet since February, 1922. and marking a decline of 2 points from this year's beat price and of S points from the of level last high July. Had this occurred In the atmosphere of 1920 we should doubtless be hearing talk of the treasurys embarrassments and of sn impending I per cent rate for new loans. The other point of interest for the dav was foreign exchange, where the franc at one time ran up to 39c, as against 6.33 2 Monday morning, but lost a good part of the advance befort th a close. B08T0 00f?EE CLOSE. fA Rportd br J A Hoglt sm l)j 210.00 (VU Nitteui CA3H , Wheat Ne. 1 hard, 2 bare, $1.1914 42 1.20 'A Cwn, be. 3 24074He; low, 7S4t74!e. Oats, bo. 2 wklta, K40e; of reason, whether the anxious lAsted AM U0410 ' 7200) 27 in this wonder film some 299 By 214 CHICAGO. March 27. (By the Associated Frees ) Uneiaslnees regardof delay to spring ing Indication wheat seeding tended to bring about In the wheat market higher price were firm today. Closing at a net advancequotations of to 1 with May $1.9g to $1.19 $ and to $1.13 Com July $1.14 to 1 oats to gained o 6 So. and provispn 12c to 15c to 20e. Reaaoo for apprehension a to the outlook for spring wheat seeding were said to be furnished by lujr temperature northwest and by predictions of continued cold In that section, ft was said also that ieas than the usual amount of summer fallowing and autumn plowing in the spring wheat tales had been aocomptisbed, and that scarcity of labor made any threat of seeding delay a serious mstter. Aside from prospective seeding difficulties, too, the general trade was from the outset inclined to look fur an upward swing in prices, the market haring been on a .decline continuously for three days, and a .dearth of offerings being eVKtgnt except at a material advance. Word that export business in wheat was fairly brisk and that Italy was or nt BECOKITIES. LOCAL rryXSTKEST (As Reported by J A. Heels A he ) BANK B1HKVKB. ..... .... NUMBER OF REAL ESTATE MORTGAGES Stme. TORE. March 27. The down-war- d sweep of stock exchange price.; which through uninterrupted continuance during four successive days, had reduced Wan etret to state of profound discouragement, halted today. The day's recovery .wee" extremely Irregular end there were some decline, but the upward tendency was on the whole emphatic and advances of a point or ynorw ware numerous Apparently the turn in the market reflected rather repurohasee by professional speculators for the decline than resumption of aggressive buying for the rise, but it indicated a feelor ing that average decline haa rstored something like equilibrium, and It probably aim meant that the stock .exchange had wearied itself with harping on the hoatile purposes of the "reserve bank governors conference." Todays visible spread of belief that nothing alarming will' result from the exchange of views at Washington occurred, it is true; before (he central banking officials bad found time even to formulate their conclusions but that la the way of Wall "The ratio of Increase In taxes as compared with values wasIn approximately as follows: .Farms. crease In taxes, lit per cant; increase in values 9 per cent, mines. Increase In in taxes, 1300 per cent; Increase values 120 per cent: railroads. InIncrease In taxes 173.$ per cent; crease Is values 26 per cent "One reason for ths wide difference between the figures for farms on the one hand, and the mines and railroads on ths other, is that the farmers phy S negligible tag to the federal goyernment under the Income tax laws The mines and railroads have been forced to par. In addition to ths enormous incraaSb in state and local taxes p very high federal tax. In view of the condition of affairs which these comparisons disclose. It appears that the. .department of agriculture unwittingly has made an excellent case for the mines and railroads against the excessive, burdensome and discriminatory methods and rates of taxation which are now tie-iImposed in many of the .taxes on these industries, particularly in states wtvere agriculture is the dominating industry." Me; itoo at k. OOSO IJork NHW! f ... Hlagkaae New Quincy Nalldrivnr Neva North gtandard Opohongo Ohio tVtpper Park Blegbam . . Park City P test 1WT 7a HANG Bat. at which min. tuition haa Increased in recent years Is set forth by the tax division of the American Minin, 9ongrena sa follows: Farm taxes wers 126 per rient gr-- liter in 1922 than In 1912, aecord- to tb- - department of agriculture estimates. Becent figures ton mine sad rnilrosd taxes lndicsta that min-l- n, enterprise ha.s born, an In. cress, in federal, stnts and local taxes of more than 1300 per cent since 1911, while .the railroads during the' same period sustained an Increase of 1JA6 per cent. suffered a Western railroads hlavler' Increase than those In the eastern and districts southern amounting to 209 per cent While farm taxes were increasing, ths value of agricultural lands and farm property grew from $40, 0U0 000,000 to 277,000,000,000, Indicating that values with the increase in taxes. kept pace On the- - other hand, while taxes on ere climbing, mines and railroads values 'did not Increase 'proporuon-aiet- r. .... .... M., .... .... .... .. laoiwt Lynn Big Six .... May Day Manos Vallay ... Moocow .... ,.H , Michigan Utah .... . . Montana ... N ... ...... Urlted Rnatem .... I a Verde Bats . , W eat era Utah Copper 7a .... ... ...... Pufont .... .... .... .... .... ... .. ft 7 Farm Taxes 126 Per Cent Greater in Nine .Years; : Mines 1300 Pct Cent. .... .. Amer Smalt A Ref Am- -r Tel A Tet 5s Reth fowl to IMA Coha fane 6a at 10uo ety ... .... nrourntiAi Eam ... .1..,,,. ....... U 500 at 9e; 1000 at 8 TintK Standard. 1025 at 3 W. West Toledo, 1500 at 83 e; 1000 ftt 54 Walker, 100 at 3.70. -- .... .... Manna Valley . MpUWiDf Ohio Copper Ray Here Mine ... Re One SUrer K Coos Mug. Simon Silver Tnoopah Belmont ... Touoptk iHvide Tonopnh Rxtenmoa, . WMHert days. Brines Cos .... ... .... .... Eerr lake -- iJukedT IB id. .... AlU Miik Alla Ooe Alta Tiger Amer Metal Mia Ce Alta Tuasel BeUioa Big Got Coal Braver Coppet Biaghaa Mines Central Buraks ,m Colb Rexall , . . Coloradp Cos , Crown Point Cardiff Ceuff iHilf , Dragon Demijohn IVn .. Emma Eilvnr ... Bmeraid ,, . kkireka Miooa E (Town Point , R Tin Coal Heat Tin Cos .. Kaet Antelopa . ,, Kureka Lilly . Eureka Buldew Galena .... liamberg Minas llowell laria Mining Ceos Copper Mia ... Cortes Silver , Emma Silver Mines Eureka Onww Goldfield Peep Ukl field Plorenra Hows Hound Co . Iron Blonaoo In the market for durum helped to lift value. Furthermore, some buying of future deliveries here was said to be against a good si aed order from On tbe other hand, little Greece, notice wa taken of sales of wheat to go Into storage .here or of buying of wheat to be brought to Chicago, Favorable crop reports from the winter wheat territory were likewise almost ignored. 6c, 7s OniMp Explanation Difficult. Mkrhicss-Pta2500 at Mr: 745 st 21 . Mascaaa'Biacbam, 500 at hew Qeiscy, 5500 at Bark City. )00 at $3 SO. Park Bingham. )uuo at Sc. PUtu 00 at 42c, 200 at 42e, aItorten UNTIED AMERICAN LINES Sftrvie With HAMBURG AMERICAN LINE CHINA in 14 PAYS H MANILA in IB DAYS TAKE A CANADIAN PACIFIC EMPRESS TO THE ORIENT Fob Gnu Etsnatt Laifof, aamtadal andnejf eteairuhlneon the Paofic sail iovtxushtly ton Vancouver, B. C. Adi about tb aerviooi Cffiidnlinlralwdi E. L. Shochan, uAYegrMim Piu. Dent. Canadian Pacific Ry. 420 Locuat SL, 6L Louis, Mo. Oen. AgL nadian Pacific IT SPANS THE WORLD CLARKS 20th CRUI5B, Jimo 27 S MEDITERRANEAN. WnRiOwwNiBwlnrtl BALTIC2 dap araiea, 1608 esMrd, taeMiea Hetala, 4 OnvwGwdn,m..Pwemmlly , by P. C. Clark. Heme. Aitwee Seem.. ipenullf (catve4 ft dor Part ftftd Lo- - dea.$lM. 4 n. UNIVfcH.SiTV-hXTbMSION- tiS3 Eerepe eeder "IMaa.2 6 fi4 IteeiVA teMwtawra.m.1 i . a FrsDk C. Clark, Times Bldg., N. Y. J. G. Tomlinson, Wilton Hotel Sait Lake City, Utah. , A |