Show POWERFUL GROUP CAUSING TROUBLE Significance of the Cut in Na National National National Lead Dividend as Viewed in Wall Street I PRODUCTION OF COPPER SOMETHING WILL DROP UNLESS AGREEMENT IS FORMED I New York July 33 The stock mar rn r I ket kc today tony Mill Iu reflected Ute Use disturbance I I of at sentiment which followed the tho CHt ct t In Inthe n the tb National lead dividend The Tit sig Mg significance of or Unit that action M s a manifestation tation of tok Moek market awl aid fl n bah lal policy velie ey n i the Ute pert part ef t a power powerful till ful group of ot Its ability to W cause MSO 1 ne h 8 holds hIs bel rIte r ability grows mainly out of ot the Ute position ef of the cite s ma m financial group grot In IR the Ute r tad etry who ho efforts effort to t form torii CO an II tto curtail production and hoN hold lip ep p prIe Lave La ben been reported The rte adoption ado c of ot a contrary policy of ot cutting c prIa pI to the level of ot ence only for the low e t pr ot of copper would entail S are dreaded from n a speculative spec point The Tho question of ot dividend 1 was wad made nade to apply to te United itata 8 steel tei on account of the Ule approach nf of the dividend meeting Ung Rut next Tuesday rue That stock sold down to w a new level leel for the year but Influential support en th tf decline Compilation were wore published of or rail railroad railroaD railroad road earnings for fer f r May Xay Xa as IY to the Interstate I commerce commission I which showed for all re I Bains aln compared with May lay of last Jut 5 ear ar arC of cf C or 1621 per por coat cent ee t In hi gros gro I and of e or er LU por oest t In Innet Innet net zet The ab Je is hotter than the Ute April showing when the Increase over OTer the preceding year wee was U or 24 It per pr cent in Krone groa mad and all nIi or orl C 81 l per cent vent In net Rt The bank statement showed a 8 gaIn caln calnIn In actual cash holdings of eC upward tf Cot f hut bot with only a nominal decrease d In loans Inane loa loaThe The Tho margin or er r the surplus VH vaa swelled by the tho sum sow s of or bringing It up tsp to I The Th Thero ro g position of or the New Now York clear clearIng clearIng clearing Ing hot banks bank Ilk thus thun th far disclosed In Indira I Id dira d t eg a preparedness for fer su sueh h ostra 1111 tra demands to te move the as aa may me re reo unit Hit front from rr the tho Interior bARking banking position po of ot the controllers report ar arranged arranged ranged by y the banker ken shows hows that the Than Inan expansion of the tho th lint last three month Bl nUart t he entirely t tho the central re ren n and other oUter r reserve ave and by Ute the country banke Bonds Bondi were wore Irregular Total holes tilee 0 par pa r valve value I c bonds unchanged on call from lad lut week k STOCK QUOTATIONS I Sales H I u I p AI Allis Chat Chak pfd P PAntaL C AmaL AntaL Copper opper Uj IS U A I 38 Ama Arnn float Boot u var ar NI 29 Ja 38 Amnia Caa 31 8 8 S 8 Ama AmB C y 11 48 41 46 46 Ama Cot CeL Oil OilA 16 65 b 6 bA A H ft fc L 1 pal 16 ice loo s er lii ZU 21 11 l 1 mn La 11 Leens Le IT 7 K 16 6 36 8 S A R lot oil IiII 6 Preferred if I lii 1 iel 1 tet letl 1 Ann Arnn l F 7 dmn Sugar R H RAmn i 1 i iii Uti Amu Tel ft A Tel 4 UTI 1331 1211 Tob Toh To pfd pre tl Arnn Anin W IS Ana J nIL n AI O c i at 37 7 9 I W 9 6 5 Preferred fol At Coast lAM iino 7 1 p It O lit lev lii Petti Steel II 21 k R 9 T 61 11 71 fan In n ratI e Z 2301 si 17 1811 Ont cent Leather 1 1 IU 30 1 It 30 P C of ot N J J f 86 Ch hec ft OW OsIe 1929 IZ SSI 81 c 60 fMc If fr A Alton ZI 25 ClIle Cu tc Gt GI We t 21 1 Preferred r rC 45 C N W WC C 0 M 01 t P F FC 12 Uli 12 co r c C Ie M lit t L LF i 78 70 10 F I 1 lit HI J 20 Colo olo A 89 So II 1 Cn n Gas Gao 0 z 2 mi i Ut iT rr Products 13 Ill tal 12 11 IM II ft lIvden Hn n nI 1 1 I p ft I R It 43 O 1 28 lel 2 27 11 p 88 68 66 06 fil SH ie tn ni n 27 Er Erie 1 22 22 ZU i 1 lit lit t preferred 40 D 30 I 20 Zd preferred I 1 If 20 II 30 IIi G an n 4 14 HI lit 1102 lat Gt at Nor pM pre I In uS 1211 r C Nor SOl ore ere otto etC 1 40 49 40 Hi Iii Central I U 1215 Itc Inter Mat let 17 Ii 17 In Preferred 1 41 4 Inter I N U 89 80 Inter I lt n Mar pta pfd 16 lOb lea Iii In 1111 IT r Par Paper 11 M III 11 01 9 Infer Iter Pump LI I 41 IWa Ia Catral 1 K x I Southern tera I 27 11 27 1 Hi 25 Preferred 61 Laded Laclede Oi au I tel LuI Jul aM III 17 I Minn Inn A St t 1 L LV 27 11 V M S P S U M UM 11 M K ft T I 35 HI 29 Preferred 6 61 t tM M Pacific 64 N 55 0 K N i f t Ie is IU leSt 1111 leStat Nat at Load Lead 48 8 47 41 47 7 N Rr R of r M 1 3 2 p 1 N Y Central 21 7 l 11 N NY Y O AW AWN A W N Ul UlM f N M ft West Woot 1 Nil 95 North Ama 3 24 9 Cl 1 I 67 Ie 56 I Nor Nr rn Pacific Mall 0 1 I us tiC I Ga Gas P C c St L Coal isa is 18 15 S Car 30 20 20 Pull Pal Car R fly Steel Spring COO 30 bIt 30 20 heading US 1381 1261 1362 Steel 1000 aOS 29 II 30 Preferred to 00 90 OC nook Island eland 2000 38 30 91 I i Preferred 41 1100 71 7 S L s Eo F z 2 p 30 JJ 39 St I 1 S W S 00 26 25 23 23 62 I S S B So S L 1 00 Gi 62 n 61 nISO ISO So 1011 1081 1081 So Railway Hallway 1600 1 1 A I Preferred GOO 51 51 CO 60 Copper 70 20 Tex TeL I Pao 30 27 26 6 26 25 Tel St 1 l V 0 70 45 U H 44 I Union 1171 Preferred 90 t 89 III 89 tI 17 S RealtY 68 u S 8 1100 n aH U 17 S 8 Steel GUlCH Preferred 30 1141 I Utah C SO 43 3 41 42 Vs Va Car sG 57 UI 51 16 I W 1 40 16 IC 16 16 Preferred d 1 25 2168 13 lii 21 Md 42 U 4 W t 1 10 17 57 I ITi 17 Mt 1 CO 60 68 60 Ge 68 V It 1 B I 43 1 1 eta nalee ee for tor UIO tho da 1 mO I sharee tar 1 TA I TS New ew York Yerk July changes wa WAS In Ille Ike market and prices were ere nominal Tin lake copper 2287 electrolytic 8 cast castIng castI castIng Ing Lead ad dulL duIL 4 bid speller spelter quiet Iron tron quiet I sad and unchanged EY SILVER ETC Now Kew York July 23 Money on call nominal Time loans loan much softer netter and ancl very active sixty days dayn S per pOI cent ceRt ninety days por per cent nix alx Ut months leu per cent Prime mercantile paper Si 6 per pr percent prent cent ent Sterling exchange about steady with actual bu lne In bankers bank bills n ls at 8 for sixty daya da and aMe at for demand Commercial bills blue Bar Ilar sliver silver Silo 54 Ie Mexican dollars dollare He Government bonds steady railroad bonds bends Irregular IJ S Tr Kew ew York July 23 The statement of f clearings house baRb banks for the week weak INk shows hows that the banks hold 1111 more Mere than the Ule requirements of er the tho 31 15 per cent reserve re erYe rule rIe This Je is J an aa In Increase Increase crease of or In IR the proper proportionate tlona e cash onek reserves as with ICh last week The TIle statement follows Loans decrease G 6 Deposits Increase 7 1 lOUt CSISS M Legal Le 1 tenders SI Tl C d Specie 1 13 11 0 11 U required In increase crease rease Surplus Increase o 18 13 17 rn d States Stat deposits de Increase The percentage of ot ro erve of at the tho clearing house Muse banks bankW today ted was 28 2890 8 99 The statement of ot banks bank a and aad trust companies 8 ef of Greater Creator NOw N w York not ROt reporting g to the tho clearing hou he shows Loans LoaM S 11 decrease lieu Si 7 Specie decrease deer OC see Total deposits de deer decrease er cr crease ease The Financier 1 will wUl say MY The New ew York clearing house bouse banks continue to accumulate cash their present p nt surplus reserve being far tar the highest of ot the last kt year The state tate statement mont ment of the banks as made public showed taking the actual al condition report rort as 53 a ft bests basis an lacrosse increase I of or ut 18 16 tJ 1 In speele and le traceable to the heavy movement from the In Interior tailor and aad to favorable operations with the ury Leans Leana showed R a alight decrease deere of ot wItH white deposit as e the result of ef th ts cask k movement Increased Ine Ua 12 The Tho result was wall na a expansion of er 12 15 I In bringing the pres present pr prent ent ont surplus to te The state slat statement went ment of averages reflecting opera operations of ot the Che previous week weak Indicated a aloan aloan aloan loan d dr or wm of 6 b bet bat t th tM the re reserve reserve serve 0 roe ree r e over ever The Tho summary of outside state banks bank and trust companies showed allowed a Je de decrease e crease 1110 of ot in loans IO III a con contraction n traction of ot about In la cash and anda an ana a 5 decrease of ot nearly la in I de do deposits posits With their reserve so far above the normal norma of ot the tho last laet year the banks of Kew rew York are in excellent condition to meet moot for the Che coming tall fall demands upon pon them and fears teare of monetary stringency may be dismissed for Cor the time Ume being The Tho period Is at hand however bow r when each k will begin to flow out of or Kew rew ew York tork but the effect of or this movement will be counterbalanced In part at least by b Impending gold Im Imports Importe ports porte The returns of ot nil tJI the tho national baltIc of the United State States as com corn complied plied piled lIed at Washington show a more fa favorable favorable condition than has ha been een hoped ho for ETS Chicago July JI 3 Cattle Receipts estimated e at GOd COO market steady beeves Texas steers SIM U western steers J stockers Cockers and aad feeders 1564 cows cow cowaDd and aDd heifers helfers belt 6 calves calvos Hogs Hog Receipts estimated e at IHO 2000 I market U l adr ad light mixed f heavy 86 5 89 rough 8 good to EQ heave h UK 2 se pigs pl bulk of or sales I SS 8 Sheep Receipts estimated at market mArItt steady native western It LII Sf lambs IaMb aU Iff western Omaha Oma July 23 Cattle Receipts is 1 mArket au steers leers cows cow v 0 western w n cows and ami heifers cann D rs MIO 11 stockers and fo re 10 tS 1151 calves S 7 0 bulls stags etc I Tf in R h ls 1800 market steady tad heavy 89 8 mixed Ix 39 S t bulk of ot sates mba I UM f I Receipt I market HOS owes lambs m I J 62 iH Ran Kan o City July fIT Cattle R ee B market steady native U UterA steers terA 4 cows ws and aad heifer helfers belr stockem 8 IUd end feeders Ze drs M bulls lie IGO G calves 1400 S e western steers st west erie rn nt cows eow U Hog 2080 market steady 40 to Cc Sc higher bulk of or sale lIal sales ss 0 heavy ht 8 SIl 2060 6 packer Uk land end nd erg rs RM light Sheep Receipts t 2040 Me murk A tOAd v muttons 1330 42 limbs IAmbs SIlI lt fed and yearling fed ted western owes ow ue GRAIN GRAIX AND A n PROVISIONS Chenio July Jul 23 Signs that whoa wheat would bo lie pouring Into Chicago gG nex next week weak made any effort of or hoisting prices today look Ilok absurd m too there th re were wr rain rane In the tho th Canadian northwest j h the crop situation In corse I quence tho the market was weak all aU days day and with a net loss lOlls of ot ic o to Ie Corn rn which received only sec lIec secondary ondAl consideration finished tiC 1 Ie above last hut nights level Oats at the windup showed a decline of HI t Ie to toIe Ic lc and provisions lOc to Primary receipts of wheat for the week were run up to bushels buh against bushels for the Ir Ire re receding ceding seven days day Acceptances of or bids to tho the country today were the second largest on the crop Illinois and ard In Indiana Indiana diana dlana were the chief sources of ot for wheat bought to arrive Although hedging sales were considerably con ld strengthened tho the deferred options at atno atno no time exhibited as ns much strength rel rei relatively rd but this was largely due to lessened trade In the tho far deliveries Not much heed was given glen to bullish I news about European crops rop as all foreign exchanges seemed to be Ignoring the weakness of ot prices this side of ot the At Atlantic Atlantic Atlantic lantic One of ot the th principal elevator concerns put out the following Our estimate e of the yield of or the tho Dakotas Dakota and bushels bUShel ar average nt O bushels bu hels News New of ot export sales al tl at Baltimore caused a alight slight recovery In n the final quarter of an hour of ot the session Fluctuations In the September option had as u limits limit and with the close off oft I 1 a to i ie net at 10 V 1083 to US llama did not ot show at the officially reporting points In the tho corn belt this thin morning c and there tle was much buying back of ot corn sold yesterday ye Advices regarding hot bot winds and crop crep damage In Oklahoma resulted In additional Im Impetus Impetus impetus petus upward Selling was wall active on the advance The markt closed elond steady d September ranged from Ic to with the final a net ad adVance Vance ance of ot Jc to to Ic Cash market easy No 3 yellow closed at Gle With the country selling soiling cash houses hedging lodging the oats market was wan light The Tho high and low limits for the Sep Sop ember t delivery dellery of ot oats oa proved pro ed to bo be boJ J c and with the close at atho atthe atthe the ho last at named price a decline desline of Ic Ie Ics Iea a as s compared with last lat night Provisions doted closed 17 1 down for COI pork perk for lard and for reI ribs rib Tho The leading futures ranged ra as an fol Col lewi I Op n i High I Lew j Ju uly w y 1981 1100 1 I Sept 1051 1 ti 1114 1 1011 1115 Dee Dec De 1072 Iti 1071 I Xay Kay 1113 11 1111 TORN I Open I nt Low J Close ir ii Sept Issi 5 I It Z Sl Dec men II 61 May OATS 11 I II I Open I High fligh I Low J I Close C July Ill 41 Sept 39 i isi 35 s May 42 u Dec 40 41 31 f Z ZOen PORK P r bbl I Open Oen I I Low I Close Sept iii I 2189 2151 I LARD Per lbs Ibs Open Low I Close 1171 1117 iio I Oct 1150 1117 Nov 1137 1137 1127 1130 SHORT RIBS Per 19 lbs Ibs I Open high I Low Close Sept I 1160 I 1100 1150 I 1160 Cash quotations were ware as follows Flour Winter patents straights sprIng r straights bakers nye No 2 78 73 Barley Feed or mixing fair fairo to o choice malting mailing Flax Seed No f south western No 1 northwestern Timothy OW Clover Mess Mesa Pork Per barrel Lard Per 19 pounds 1105 Short Ribs Sides loose Short Clear Sides Boxed 1200 1325 Grim Total clearances of or wheat and flour wera oqual quai al te to bushels Primary receipts N bushels le with wih bushels hels the corresponding eo day daya dy dya a year yer a age o receipts for Monday Wheat aler corn ern HI cars er eats et 11 cars ers hogs hoa head bead I YORK GIl New Ne York July 22 Flour Dull and unchanged nn Spring patents te 6 em ne 6 61 winter straights 4 win winter tar ter patents spring sprine clears cler 46 winter extras No 1 20 s winter extras extra No Xo 3 2 36 38 f LOS O Kansas Rn straights shipments 61 Wheat Spot easy I No 2 I rod r nominal nom nal inal elevator to arrive c C L 1 f 6 So No 10 2 red now new f 6 o 0 b afloat No o 1 northern northern 1211 11 f 6 t o b ii Thor There Ter was warn w a very quiet trade In wheat but bt I prices were vere lower closing olon 14 2 25 6 down July ruly ul closed oled 11 September closed cloe 1191 1101 11 B December Dember elos d 1 U Receipts AND D New Now York July 23 Coffee futures oo steady net not i points lower to S 3 SK pl points K tats e higher I I Salos S wore yere reported of or 8 bales ble ger Closing bids bide follow July Jul ct August September and October 6 November NOTI r 7 Decem Deen Dem her ber r 79 7 95 January Jamar o o February March 7 It April Apri 11 May 11 June June 7 Spot coffee eft steady Rio ItIe I No 0 7 1 81 8 8 Santos Santo No ro 4 9 9 91 mild mid steady tody Cordova Conov 12 J Raw Itaw Rw sugar a gr firm 39 8 test tent tet centrifugal 11 molasses mola sugar 89 test 15 refined sugar pro steady out ot loaf bar IO 58 S 95 crushed 8 j mould A I cubs cubes e powdered powdered 12 52 granulated 51 diamond dimond A 51 11 A 49 Ii No 1 No ro 3 2 2 48 No 3 NO 10 4 1 Xo No S 6 No 0 6 65 No 7 0 No 8 S NO 9 41 No 18 II 44 No 11 41 No 12 13 12 41 No Ho 13 U No No 14 U 1 I New York July 22 Evaporated ap ftp plea quiet uleL but stocks 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