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Show THE SALT LAKE TRIBUNE, THURSDAY HORNING, MARCH 23, 1920. l'j STOCK ttARKETJOPPLES OVER IN LAST HOURS OF SESSION Reaction' of From ' Five to Forty Points From Morning Levels Causes Condition Topheary Speculative Post Drop in Export Trade Expected to Restore Normal Business Conditions. NETT YORK. March UlT-- Th atock market loppied ever Ilk an Inverted pyramid In the last half of todays afier an early period in whlclt several recent speculative favorites vended to highest quotations In their history. leaders reacted fir t forty points from top levels of th morning and a condition demoral leal ion approaching characterised the feverishly acUv close, with tall money at 14 per cent. Trading was anre mors controlled by professional Interests end the ostrara-gaoperations of that element were largely, tf not entirely, responsible for th break, which was more severe and far reaching than any movement at nee th early pert of February. , Aa ,tli decline gathered greater momentum there were rumors that th banka were calling loans at the euar-e-Hef the federal reserve board. Officials ef that Instttvtion are 00 record a opposed to any axceaslva dealings la the stock market. . General Motors again fumlehed the pyrotechnics of th session, rising 19 points In th first hour to tb new maximum of 41 and declining precipitately to 384, at that quotation with a net lossdosing of 32 Vj point. Crucible Steel replaced an early gala of 12 and points with a pet loos of other motor steol equipments and oils finished at declines ef three to eight points after having shown actual of that much. Ralls and standard Industrials also substituted manung gain nf on to three points with moderate losses, end miscellaneous specialties were engulfed in the st the sad. Sales general reaction amounted t 1.750.90 shares. Tbe bond market was sot affected by th movements ef stock Liberty Issue for example, scoring moderate gains foe e th da). rail aad Industrials were only slightly changed. Total mis par value, aggregated 1 12.370.00. I tilted States bonds were unaltered on Sow Tork Stock List. Hife bww Aesertrss a, -- 00 Market Zmprerlsf. Bond At result of tbe Improved sentiment In the financial district and the increased demand for Investment securities, several of the distributing houses will soon bring out pew Issues, the offering of which had been delaved until conditions became better. Bond houses yesterday reported greatly heightened aotlv tty In bonds all kind of foreign railroad and , government Issues. Tbe favorable decision of the supreme court, the announcement that Great Britain and France woukl be able to pay off loan without renewing tae Anglo-Frenany part, and the quick abeorptton tms week of offerings of bonds of the provinces of Ontario and Stsnltooa, Canada, Inara among th developments which creased the activity In th bond market and convinced investment bouses that th lime la pew propitious to bringing out a limited amount of new offering The New York Times. t ch !'n " Clearing HouM Beport. Wednesday clearings Jl 637.74.1 ?! fearoe day hud year 2,391,127.84 Can Good Stuping Email. Announcement baa been made In trash-- , tliut there are now In th hanxU of t.i war department exceaa stocks of canned tomatoes, 173.000 cases, and peas, 30,090 ease Tha latter stock is too small to be of any effect on the' market. Tbe tomatoes are expected to be finally disposed ef prior to May 1, and th effect Of their sal is generally understood te hold but slight possibilities for affecting tbe market for canned foods to be produced this year. ' lug-to- , . n Bailway Banda Offered. Announcement bas been made by the National City company ef New Tork of an offering of $12,900,900 worth ef Cane- dtan North era railway I1, per cent notes guaranteed by the Canadian government. The Issue is put out in flood bonds, payable, principal and interest, in United State gold coin. They are offered to yield about T per cent. Buy Blaekfoot Bank. to Tba Tribune. 8pul POCATELLO, Wail, March 2. B. F. Blodgett of Salt Lake and F. J. atone last weak purchased the controlling Interest In tn Blaekfoot City bank, preitr. viously held bv the Keel e a interest Sion who bas operated a chain of stores at Dtiggs. Arc and Victor, and bas beau associated with Mr. Blodgett tn a bank Victor, will reside at Blaekfoot and si assume active management of the new institution. fng of th normal Income tax rate. Th Second district ef New Tork. comprisheld ing the heart of the financial section, amount its piace in yielding the great as of revenue of all collection district lta total was it baa for many year I13l.395.fo9. Collections Included: 13.87!. Arkansa Arizona, 337; California, g37.28k.974; Colorado. Hawaii. 33.84i.884f Idaho. 31.14.-S- i; IlHoot 3S3.274.372; Iowa, 33.304.368; Kansas. 39.987,743; Minnesota. 312.832. 847; Missouri. 328 393.818; Montana, Nebraska. 34.168 862; New Mexico, North 3294,788; New lerh. 3214.834.332; and South Dakota. 33.484.675; Oklahoma, 38.951.94; Oregon. 37.459.8s5; Teas Washington, t tab. Il.332.318; 31,169,113. and Wyoming, a 0 U. 8. Steel Barningg. 4. Earnings of NETT YORK, March th United State Steel corporation for 1919 aggregated 3162,794.839, a decrease of 355,991,485 from' 1913. according to the detailed report issued today. This sum Is reached after allowance Is mad too estimated amount of federal Income and excess profits taxes. Balance of earning after Interest payment on outstanding bonds sad mortgage amounted te $14339,083, of subsidtarie a decrease of $56,781,817, with a net Income of $93,943,138. a decrease Of and a surplus net income ef aa compared with 123,933,330 U tbe previous year. Adding this to surplus aceunralatsd by all companies from April , 19el, Including the 335.880.888 provided for working capital at organisation, the corporation total undivided at the end of 1919 bad surplus, exclusive of profits made by subon sidiaries intercompany sale of 1492. $4d A)?. Volume of busineae dona by alt companies of the corporation during 1919. as represented by combined groa sate ag as against $L' (regaled In th preceding year. 44.312,183 The combined general balance sheet fixed asset at the enormous total of $2. 365.353.282. including currant assets of 367L293.2&3. Among th largest Item tn United this account are Liberty bead Slates treasury certificates and other marketable securities va.ued at $159,488,-87accounts and bill receivable ef almost 393.888 8s8, and cash In hand and on deposit of $188,782.38$. Casual reference Is made by Chairman E. B. Gary to the coal shortage and labor difficulties ef the later months of 1919, when the output was .only 87 per cent of normal and at lowest ebb tn October. For the entire year the output of finished steel products averaged 7 Al per cent of capacity. Production of Iron ore felt front tons In 191$ to 25.423.093 In 1919; manufactured coke decreased from tone to 15.483.849. and roiled aad decreased ocuer finished steel products from 12,649.483 tons to 11,997,936. Comparison of tbe number of employees on th pay roll shows a total of 252.188 tn 1919 and 348.710 la the preceding year, but salaries and wages in 1911 amounted to $479,543,948, aa against $452,583,4 3 4 tn 1911. This la accounted for by tha fact that all employees, exclusive of th general administration and sailing forces, received an average dally wage of 38.12 to 1919, compared with $5.53 tn the previous year. m thc mre-four- th en-tir- ft, Tod. Ammr Z. Kli Awff A S"p royfv. .... fHpn a... pine ...... Citiril Mvitev ........ Oh. Fowl A Ck t U A C CMiiio 0 A I op-a- Hf A A 9m Cfcta luyysf ...aw.! a Iin.., rV (or FfoArto .4. C fwibto 0trft M CN 1st V 9m4 KrW . . K1rtrie (Mn) Aoml Mon a mfh pt4 f Ihlaet astral lanUrartae Oreer Is'av .. M M Im terei Cepprr Mostaae Cepprv Vtrl f 93 98 .14 T 22 li j ; T.... live A key I Dwcra Slarletr OH k Saarrkara Fsctfle ...,1 ...I 2r' ...I nr?iiio14 146 1081, 99 I'slaa Fsciflc .......j CaKad ctper Starrs. J C R fad AketMl...,.l U Steel Fief erred . Tfak Cemwv Wasters rated Wratlas Electrfd TS- - 1 I Kd U8 I,892 .1 , 'tWliS I leo 118 14' 17 S I I1 TX 9 S1V 81 in! sen! yjrjf I 24 104' 26 ...II ...I . Wlllrs-Onrrtaa- is Ji .. . 1 1 Bf... Senrhere Railway Otsdebeker Carp 4i!l 2- FHibers A W Fltrabeeg Col ...... ay leu Capper Reedies Si's 24i alas ta bweandw Krtr C 8 s r 2 taupu 4e ykOr North M1st8a4S 2 ll lid Inter , MIS Bond. . M . . 184 M X A T las 4a. ITS rsg 4a rr 4 csap..l8 Mb Frtf yea 4a. MS 6 Meat Fower 9s.. 4S Fa asms 9 iw-fS 0 S L rvf 4s.... S8's As esapn Au T A T ev 8. 87 Fs TAT Ss.... SIS ... fO'i Arts A Co Sl'LPsna SB R A 0 ev 4Ht... 84 de fas ga 7 Lsefh M .. Resd gwn 4s Ceat (e 0 M A IMP re H 71 RiL A nrF adj 8s 44 F 102 A CRI Xy r ds 47it ia Child Cap tr 8 TP loutb Ky is .... K5 City Pf Peris 8i. 90 Texas Co rr 6s. --184 D ef Css Milfoil 91 Tax A Fee 1st... 1 . 49 V 4a Rob 6s grta 99 Wahaak lac ..i. 98 Has Else (s C oncrm, a JU, m1JT4 1 T. 8 H 4 Hart ., yerrkera Fsctfle .... 084 cities Fee Tal A T.I Feted .... Fmaartvsal 6 Call Money Advances. 40 e 91 2a .....t.... ..... Fewer Lewd 4; Ptsj 98al hl Find MlSvale Btaa4 Me Fsctfle kl Pevafa I I Th primary cau f thi onacttlmttt, far as stneka wr wab in 4vkoc f fh call moiwy reft from ? te 113 Miql M's W per cent. Then the epteulftilTB element 91 which Ithe to eecrikw to th bark erbi 90S,IlfW j trary power oeer calf lonn poo i8 im ! IMa pent comment for today's moveaent. And 2!M JSli on if were ex wont acclaim to thi 1S an 46 S 4T foe th enexpoctod of ri 4M W pianttfkm. h RO n4 diiweer further might ST mny. ST 31 or reaeon tb lentlarv up money why puk ..I to t nu. Th fxt ehmilB not be verlooiwi that trmtior fn General Motor. RaiOwin. T4 rhe MS Cmrfbln Hteel. ptudehoker rtoek hod beew klidtnir price vpword 1, ; Uv a l y;1 ( d Had eUvtit whi faeirlon. rearer phnli 49 49 for tho etroation of credit aa hawfc at etafemont had dierloeed it from weeh to fnaj wr HT 4 S'I 42 and from thi It would nC b dtffl week, P7' sr coif to anFo that a rebuke for surh isst 2 Ml m k Mrip! i at ton had been adminirUrred. The opr ealu of debate ou (hi point U, bwe ST9 T M's! M ope a to qieeffjon. Thy llarrb advance tea 111 ho of quoiatWne. whatever may hmrw been ton ne l th Influffitica from eoeuut tndue trial te 1X2' 44 f 41 bnd tit the far vf a t 90S partmetitaunfavorable frHeraf bank reeecva etcadiiy 7J ri'i 2 poeUioiv and the Ikfitiriaftnn of remmxr (u'nwn'iee'pv-'i- , ctel loans reported from ftm to time a 11 2J 84 in found saw ue tor th cradlt 86 24 7T " tbo released. 'is ... Caspar A Vaak knkxs Miaul ( 4, 91 F2. 18 I flier aeaceert Lewis as so 41 r-- pf( Fbkel wa Trlbooe. l,t 4wmt ( Th as. AMmbA IbfOfT .... iirMM A ... All u A W I IMIterl Mr ottro . teK A Oil -....... u 4a..... 4s.. fn n Bgflroaff Bonds. Ur SepovSed by I, S. Bafl A C Rid. lAakcd. 3 lay Lose Deposits. The operations centering around the mid nitwit k lav payments have not yet been completed. Government wlvhdrswale beeon compiled. Government with'leasnsio from local bonks on Tuswlay asvmntMi to stout $20,060,606 and more fund ere expected to b talMA exit tomorrow. Th checks sent to Internal revno oolieeinrs bsv not aB son threngti. wbh-- menu ths8 fits banks or likely to toss deposits th sxreernimnt for some 11 mo Th stock market had seemed to b thrown off Fs guard by tha relatively easy sail In recant days; which furthered loan ral th 4tclln after it gut undor way today, fn tba first hour occurred th familiar procere at bidding np the popu.ar tawioa. and their retreat latar came clow to being , . 4 rout. An encouraging feature of tb day nrue contained in the announcement of several suable pi see of new finanemg. including more than $17,008,008 of railroad escur-U- y offerings. Bo tar this week railroad and Industrial corporations hare pre-ted for con eiders tion bv tha investing nubile' more than $54 988.608 now paper. advanced again, and Sterling oxebang there was a substantial upturn ef frano, lire and Belgian fra sc Tha rise of th tatter groupquotations Indicated that preparations for maturing French and Balia loan irr Lendow within the nest few weeks had, been completed In the main, sterling sas quoted st high a 32.83. cIooa to tb year's niaxfinuia rate for c hack. ... tsKtr U Bsy bMto J A.kefd, il im'3 3 IMmnt ... , . Siy brr bMtr f Uc - b Lauras b Chief fBawlitlBte Artaen Cm. Cvppr kiwB ......f , 4Hi 4 4 first domsri e.d ( mm OoblfMl Trn Cap Hottm Copper erde Jenmff L 7 m 73 $1 Ko Besdlng 4 IDgssuer 1887 1985.... 1821... 4 6n 96 79 94 76 sets 1P2S 4 dtp A Term 4s ltno. , . See Fraaeisr A 4 Pacific 1988.. laf 4 de esev 6s 1984 1928 4s da Ntr Pee 1st land srsnt 4s 1947. do 1st ref ds 9akt..... j to 1st ease 0 1827 URICo 1st I coll Tr SF 4e 19201 Vlrplni Rv 1st Kty fis 1WC...I Wraierw Fsc lad f,a 1948 tf 4 1S fr 97 79 97 79 S 74 KM 79 2 72 94 , tu;rt 65 Wrtjfht-Mar- n 82 Tert fAt n -- ported by J. A. Bogle A C SANK STOCKS. Rid. 1 tkxfft TrOBt .VatiMl Bnli PWcters ef 'Aake-1- . pttcd $a 1019, eengri 181 S. . .......... ...I fBaakRepuVtic. . . . h t?tb Wtlkr HaBker., Nf! ftTHTAL Amelffametad PfferrM Comm ilbtte . fuar ..... . kHi. j $ Wipe Coal a. c. Ciaj .. 1 u . . . UTOTKlI. ... b ..Tl, bhramnteae PfaateM Caul ...... Mnar .... Fir ..... . W.W1,, I Mt PtatM Te rtah 'Ahri, I3.ii 1W.W 10ft. ,1 U1.00 7.00 t.OOl 03.0 0 : f 40.90;.. loi.to . I .... 8.90 82.88' . 1 88.68 OVDS, R8. Cluh All s It stork Ft 4. Rr.iol.nl feel 4s Tie Tr A U let Fr 4 rtsk U Ctsh Racrtrltlc f tab fuel let .. lMiwjhtHl blktri UWf MW bin Nv PI tea i 44 S Ildus tzlzl t.lt ts... ..... Repnrtre J . I ! 7 A6f4. I I 88 00' $108.88 98.00 60.0r 08 14 08 73.001 and, VUUty Boaffa bv f. A. Bogle A I . Let L 1M2 Stret Cel G. I a. Ref A F. 8e. Cblle Ce soil Tr eeev T , Weet Pew Gee HAS ceee A ref 8 Fee T A T lit n tr 8 F t 4 Stref Se R F 104 S-- ik Bh Msa tm eeeiesagi a sber. as agalset tapper Teilry eM tfotherkMle .. yipieeJo ehort for reel. sad talxir f 1087 102-- RM. S4L. 4 102 f .1 I A i 7V M'e eked. 64 87 104' St share ........ Standard. Oil Stock. ware ........8...... ... eftrate a. Tans ....... dwrasy. York . y bntrre Is rsrtoas Cohef - ...... i86-Hi- . the, iriplet ............. t .41- .41 - ASIA .2 .88 .43 .... ...... . f 163 199 T97 by J. A. (toil A 92 It n .... 439 159 830 90 Vf .... 840 Sundry ' account, buildings ing contract 4M) 650 75 479 Total 139 193 452 t 34 te 37 ;t fAek-- d. P7 01 ( Vj 09 OH 92 59 39 5 99 42 $7t 1921 97.54 98 54 88 A2 til .94 88 94 92 8 69 M 0 4 9, 9 04 00 04' 02 74 90 m ... ... .t 07.64 97. A8 97.54 07 39 Rv A Pwteffi Bupmr I C 1 L tk High- - Lew. 0rert-0ttter- . - teH . .! , t4ST',! 0H art, m for, 219,773.48 22,173.2 , ' 737A43..8 ..I 2455,701.31 receipt DISBUBiSEltENTS. I 09 H HIT', s'i 86 7S, 2S- -. 28'. ' W.! X4, f 53,5s I , csuetructioa. .... ...... Total disbursement. Salaries paid each of Ha of freer: , 354,sei:$4 6 , se- Nun 7.30 p- ' , ( :S$,5.X se- - 4, 353,125.49 63,723.31 - 18,391.81 !S,443, - .... ' 45,903. $1 aucu, ' . T Real cat ate and permanent reserve fund Real salats contracts Total 900, . cunty account recsiv- able Insuranc. taxes and advertising cost Real estate, homo oific viz: . jp1 60 9u4t-A- O Treasurer Director for attendance at each meeting ....... A tat emeu i ef its ss- eseta aad liabilities at t,i end of tbo year, and tb nature: building Misceilancous e 3,835,721.53 $ Sundry - :I5.773A asset 17$ ;rr,so 134308.32 3,357-131.- LIABILITIES. Running stock and dlvi- denda t Paid-u- p stock and dividends Deposit and Inter! for Fund contingent loses (surph.' partial payment oa real estate loans Undivided profits (for last six months ...... Labilities, vie: eft Partial payments LSS2,do-4- 3 ..... 05 7.3n 04 $l meat, via; Exchange nd transfer of deposits Sinking fund accounts, includunder ing buddings 113,356.34 H.K9.H , .. t, 121A37.AJ 47.372.29 ... disburso- - MlaceiloBOous ASSETS. Cash on band Loans on mortgage curity Loons ea pas hook 21 te Kw Terk Zdsfod Stocks. (As Rctnre8 by J. A Basis A Cel 0. ' Dividend paid during tb year 60,2(9.00 Expenses; including sai- ans .... Insurance and taxes adcontracts vanced 46,324.38 Sundry account, includInterest paid on with- - , under 5,373.33 buildings drawn stock ing contract .... te Cask on band at close ot 2SS8!.$1 flerai year , liabliities $ 41.983.34 Total 5,537.137.79 Loans on contracts R. W. Madseat being ffrst duly sworn according to law. deposes and say that th statenamed I and that above treasurer of ft company; tbs rice president ment made hi th foregoing report r true and correct, and that said statement, con-reau busmen tbo of fall and company's exjtbft of the condition contain Ft. IV. If Uitrb.N. 1919- - , the does of th yearsworn to bofor mo this ?8t'i day of February. 1?:. Subscribed and IL 51. H. LUND, (Notarys bcali Notary Public. of 'the Rank Commissioner. State of Utah. Office bonk do hereby eert'fir Utah. comm of of tn ieetoavr T. Verter. stale X. L that th foregoing I a full fro sod correct copy of tbsof statement of129.t.i anai office this 27th day February, named company, now on fl.e in my X. T. PORTER, Back Commiss,ocer. I M 07K N 4s )sc 2M 4Ls te 3rd 4 , te 4tb 4H Tlrtflrr 44a 9 IK 99. ea niertgago securities .... ...... ....3 U2S4M.14 Leans en paaa book ss- 45,737.65 curiryt TVithdrawsi of running ............ .... stock 4$?,!X6.3I Vntbdrswale of paid-u- p 4 $88,88 atock .... Withdraw. of deposits.. 105.188,70 fs.) I JiJ.51 98 19 3 4, 194. 94 3i2.0).:9 ITAU.M includ- asder 88X Loans 45 91 01 267.I3A.I1 - reserve fund stack MiecelAnoous rsceipts, via: Exchange and transfer deposit Insurance and taxes repaid sm 7V Krearfe ti K 131 V K $S LWrty te a 1st 4s 4 2of 4s .. STATE CT THE Or . iTeeident Vice president Secretary .... ........... Block loan repaid F, R. fund exmtrsctat.. Paaa books, Iniuat iea and transfer fsoe General and permanent or 49 619 123 109 444 87 ..... Interest Government Bends. Xanh erenai- srr. 52pbr. mmso "Tirats, Amrt' T0..,, rtim ry 424V; 441r; at mark, rsaim AfriwliraftkiMtn Owcb) .....a. tapItvlMf, 410 Uf Ulfter. 8prta. 39c; tewte r 0 Rteter PosUtT Tte e. 191 my ms .. . . Wateinrtmi 179 199 7M9 Indiana........ h anas. SnKwkrp XJft 539 429 149 929 99 332 979 623 423 .ss.. 5nr 5w OUlo b Flncb .. Vansm m 77 at ................ . OU Or! OU OU OU OU 69 im ......... ih(M Wte ( 62 p Hod Itomoch Trouble for Seven iOrr te Ptwo 8R. Team t omwr riuimi 944;I 041, There! or Sstiferd of Kenmoro. Jltch., Fifpvw Amw . OwtarW 0Hrr for totn troute b Mrvaa ysr h b4 fir ........ r fruit pre ibp4 ItRri veiahte mQd dWiM rot Turpentine. ' 0tw Pr1r wiiHout psbt In tb vtormrh and restiraa RUwy 24. Tnmreflae. SAkVAVXAH. fie . Mere ( diUihitM Rtf s fhamtetelfi aififta. Ukn By Tibttx teVs M Niwb. b$pfa. 14 firm $5.17 ffowthrm II R pf4 hte r to 1 now wt fruit h ftS9 rrtabte 33 Wrreis. barrel Stork, ftfpwewt. without ranrln ptn or aNwlriwnnn If TfU terre. temU .re...... or constipation Vlrcl" with Hamib. iaVs. 411 Nf ts. fin. r rwr Pwtail tv th tabWi a trial. The 123 terrem Phtpmratf, U0I terreta. 9($ k, AwdHfti lrwf KvtelfWf iAdv. bsncfwriau to barrels. tain 2).96J proc 1044 f 1MB 1931.1 U9 68,671.88 EECEIPTS. Case on band at close ef last fiscal year Dues en running stock.. Paid up Slock ("DJ.... Deposits .... Leans repaid n 79 . .68, 240 923 99 m 149 121777.80 statement ef receipt and during tk preceding year: 406 ms .....awe........ W Aprtl &s April 1929 S 4 $s 1P87 ot; Ctry of Faria 9a 121 3a 1W41 bill, Rrp of Tramp Knasta Kata 5S 1921... Ruatem latl 34 1029 ,jii r en.teg bettes Neath Fall revere Lous A a. rice blech Swire Greere brick 4 A ....... I9S.08 yar C. (As Deported fey 1, A. Hsgle A Rid. 2 . . AH! T. waw. 8. .awe . PrilltF'Pf tyOS t 479 . 09 ..ere.e. e...y....... Inetey 22J ChMsbroofil a.. ....... .... Tbe number of shares sold during the year.... The numbor ef share cancelled and withdrawn during the preesdir.g - B!A - WKOLZ9ALF BAlll FRODWCF. cQcotertooe by Katusl Creswery Ceweeey.L tea lets Freeh extra ei Meier1 y batter hi enb--e. .g .ss Pre extra neemery barter is r TT.ee Freeh firet revamery butler, psreb- - snt riaf Freeh firet .... 4 rhree-woat- lomlaannally. Salt Lake City, Utah. Th amount of authorized P3.500, 808.88 capital Th par value of oath t tstc. 4U Western Loan & Building Co. Oct.. 1928....) rwn! Anwariaa te St Mb. 1928, ( Oont Gf lute 8. April, 1021 &s W1 p- -y - r V MADE TO THE BANfc CO M MTSSIOXEK UTAH OF THE .... w (As n.porie London Money. fjOrnoS. Kerch 24 lire. y. 8 STATEMENT ...... ...... ........ ....... tapper Aate r- e Her Hewolm Stewart Ormret .... Sweeaa . TMepab Extaaafo rnrtid Verde Tertafttm . Cftenetildate Cnppiy a 17.98 t . ........ VetU HPetertel pwsn . - Uaastrr . .... Bm Late Iste Ccpo- -r sacked. 96.0 fj Compounded ........ ........ i..efMr.M .....yt. Mb$Hrt4 ten fteit Chicago Produce. -- Torb . A Jvtow......-.-,,K CfflMkfllS rl f a, i Tn Cent oa Sxrinfi IfjirrU 8tatete ftfantenf CD CHTCAH0. lurch 24. Potefore stesAy 9 ears. Xarthwm mint whir. a8 19 96: do balh. (v 969.99; Idaho 3 eoeew.e. .................... . topWfM Potato Market, ifvffliit preferred.. . e Ptandsr fttnndar fttnnbinf 4 ra ate rvf m4.ed 4nc at fijfs rlnw. for yeer ewled Preretb-- r 61. 88-7- Cm............. 011. 9. W. Penn. Pfp HfaaWn r9 (M CalKamt Mntntenf 01) Sbaflwk-Aripe- swevierly Isiu.eo.,. Ntknl Trat Aiftt VF OtMlfM J IHat fufc .. . ... ... Fierre-Arre- ClMlbUI Jlorft bef femrtar' P)p stoothera ten (At R recited by J A Bre'v A Twenty iaSnetrisis. SlogAS, off 02. T wrery retlrtMOo, 877.99; eff .4, . 1 Midwtt Otl OU ........... Sola BzUs and Industrials. trtsk Banka and Industrials. 0U- Transit bw Sort It mi Pip 6blff Oil 8. .. OS. res. 8.4 Prairie Oil Pmurta V1p .a ... Eateaaio GadftdM 82 91 Ok Bm (Fibnil . tolrjwortl Uvtn Fnfolcum Urrlft . Mbteeot , D fwm IM HfoWfW-- J f y'lil.: I BEGIN tarinff now. Every dollar you deposit in our Savings Bank means more tkan a dollar added to your re sources, as it immediately 1 becomes a working dollar. ... Varfe Stewart ... .. .. .. Surceaa ... Mrtala ... . Tertepab Beitwwt .. ftevea rt t . wee - batten! Ttsnrit ...... Coipr ... kri T2 ... - OH- 4m preferred nilBOiS bhM 8 in P1p .. .oA...A. ....... Ohi Onec 4 liMtii Ptfk PWflT L ... ' .. MtelKSl a fcorekt fttlcu mstnw .... Bfetal Meoarrh ... ... Baltic 5w Cornelia New 5eva4 Peufla yixo F5TACLI5IIEP fYO .. tr Wright f reagent ....... ... ... ... Kfikm 44s ..... Lb If Torpdf SubMis rta $ Bac . IfAtor i'SUtamtfti .w IKvKtaley Im ll4 14 ... ... ... ... ... f.sw... Mantle Pass 8 de raer ... I,....., eeew.4 MaioW liotly PBlfWMl . rre, 75 CMCBd OMbifii bhwb BwwS . rrtkw Am r U . . MoAfBn faffuatrli l -... Air KdNlUrtto Atea Ejrylovlm (Mil Boston Stock qua ttioni. (JU Rprte4 by X. A. flwl b a. u tit Tl I 4 ATM0 9per4al l NEW YORK. March !4.- -A tophcgvy speculetlv poeitloa of stocka end eottoa ! brouglit Its owa corrertkm today through m! i iS sharp fall sf quotation. The volatile v I. v. Industrial shares declined from S te lets ifttiv, l.vi H,14,I.WtS 1X9 'V points, with th errslic General JlaWrt 161 ITS! 9vi receding m lore than 44 points from th ;( as Tsvsi oo highest to tb lowest level. The Mareb MU col ton option, wlik h ttio Ur v before wkU ' sk,l , at th remarkable wi,i y price of 4AI4 erots per pound. droppeA to i craig end Ibo other contract were weak from' tha start of . buslnese. mt as though In both markets ft there had been. In Walt arrest p h rs so. too much buying sml lie little 011104 since the forward move meet bgaa ssrly In the month. The old short account evidently bad boon driven tn In progress of the rise, and s new on bed sot baas bulU up. with tlie result that there wae net a sufficient firm cushion, for quetatlona te fall upon when sentiment become unset tied. II i !81 afi; alt ' . 1: 08 . lnir turn atm Amm )tr: .... Rf fUrf A or or 1A $1,448-157,33- 6. Common Stock Increases. TOLEDO, OhJOt March 24. Increase of I23.OiMr.uiM. in common stock was author-tse- d at a special meeting of stockholders of the company here today. With thi new issue, it was announced by John N. Willy president, tbd authorized capital stock f th company now fc $tou,9d,u, 3,000,00 ef Gruff Trunk Surplux. wlip'h Is preferred. Tbe new issue, will be used to provide Grand MONTREAL. March 24.TTi facilities for greater economy in pro- Trunk railway showed surplus ef 277,. duction ef the present output and to per-- - fhO pounds sterling for operation of ft mlt expansion of the manufacturing pro- lines In Canada during 1919. or (1,080 gram, it was announced. pounds less than tbo previous year, ac4 , cording te complete returns from- Its properties mads public bore today.- After alIRtaraationat Banking. for an estimated deficit of 274,-5tVASraNQTO.V. March. 24. Establish- lowing pounds on branches under United ment ef a federal system of international States there recontrol, government banking practica.ly Is provided by the re- mained a surplus of 1184 poanda, or 788 enacted amendment to the Edge cently. reserve less than 191$. federal act, according to an an- pounds a nouncement tonight bv Governor Harding Car will Bo Guest, tn making public rules and regulations governing the entry of American corWilliam A. Day of Fan Frasciaco, depforeign banking field. porations tms tile was uty governor ef tbe Federal Reserve bank While tbe law designed primarily ef the Twelfth district, will be the guest to permit American investor by mesne ef honor of th banker of the Salt lake of corporation, t assist in fha recon- Clearing He use association at a luncheon struct io ef Europe. Mr. Harding believed st the Alta club- today. Mr. Day area that thi wa the narrower view. Tha the first manager of tb Salt Lake branch of financial institutions to as. of tbe Federal Reserve bank, and him a atst Europe should form the basis for wide circle of acquaintance among the a new era of International competition, be hanker aad bunlnee men of the city. said. Tb Immediate effect of tbe or- He arrives In Salt Lake today from th ganization and operation of such agents east. would b to make available long-tera , nation credits to the TYXoIezxl Price Hltbar. but. Mr. Harding explained, this was ear As shown by reformation gathered in ana Incident to the permanent develop-mer- it of a greater export market for representative markets by th bureau of labor statistics of the United States deAmericas industries. Aa result f the broad possibilities partment nf labor, wholesale prices in opened by t ) new law, Mr. Harding the aggregate averaged ellghtly higher In Februarv than la the preceding mouth. said t.ie feueral reserve board anticimany changes la its first The bureaus weighted index number, pated that would bar to be mad The which is built on a larger number of regulations However, are expected to commodities than any other currently general rule same. remai.t the puhttabed eerie, registered 24 for Febe ruary. aa com pared with 24$ for January. Articles belonging to the group of lumBeport an Tax Payment. ber end budding materials exhibited (ho the iadex number rising WASHINGTON, March 7 1. Income and largest from 288 to 288. or wearty u e--r cent. profit fftxet lurgregmrlug ih first iruftaiV Metals and metal produrt laerraaed 1 8:4,172 wero pnM toil! for per cent and chemicals and drug 4 4 mnt of th nation Bomewhat smaller tnersaaea not rrprevent an per cent. While fiyiif fnr last e- -r recorded for cloths and clot .ling aad of th lax exact o f nr th fuel and Ughtirg. Vfr, rncr nfIndiratw coi rt ten83,3v Important On tbe other hand, the year approximarv and food artree sure nfftoiarti mid tonfs'ftr. Th flrt group of farm product I la nr n a decrease beta shewed ticles each tntA)!wint morw than offset from January in fraiArv ccrtiflcale ef fndebtvdn, of more tha 1 '5 pee cent the index number dropping i.Bi:d tn antsTipation of tae payment, to February, knd from 2iZ to 244. and Inavee tr trcaciirr in position t from 248 to 227 A alight Acer see occurred cortttou tie ftaftiwUhl program, outlined also In the group of iriacalianeoua comtevrai month arot Cnlltetlonc for the first pHod nf 1918 modities. In the hone. furnishing guodr er apT'mxlfntlv 9 SuM eM the re- group no chang In ) erage price took duction thi jear bring due lo the lower- - rise. WUlys-Gvsrla- m A es caJL 1ls Ills IMS OASl AVS u IInts i?is(!jo 9 41 94'k A t fts wh 4. I II A PM...-lr- r . . Leoemeftre Ar mm 8. High-grad- Aim osi : mis fmt it1 AFfty... Asiff on -- Artral a Am nt Th dvsr rising tld of Import to tbd United Flats and th promise It give of tha gradual riturn to normal condition of International commerc, la shoxm In. tha Statement of Import and exports Issued by tha bureau of foreign and domestic immret Of tb fsdeial department .of com mere. With oxporta remaining but Itttl chanced In volume, th Imports for Feb ruary show an Increase of almoet lu per cent aboveeralast year. In February for. brought into this country elgn goods a wort ii A47,(7O,i0t, aa compared with but The t2U.114.174 for February, 1913. of export ovar Imports, th factor which has don more than any other thing to Orlng about tha present unfavor. able foreign eachanga rates shows a moat notabla drop from 1349,172,73! for Febru1111, to !172.2M:i for laat month. . ary, The probable continuation of tha Import Increaeo coupled with the strong I note tiona that exports cannot Increase ma for tha present, la expected to tertally t 111 further reduce tha dlfferaac between exports and Imports and to soon perhaps In of balance favor th Imports. wing Such course, if continued, would not . only bring about an equalisation of the trade balance of thle country with Europe, but would at the eame time help to fill the demends of the American tnar-ke- te te the point where production and demand would meet, with the probable consequence of a gradual drop In commodity prices In many lines. Another feature of the report is the exrvss la exports of gold over Imports of 13I.A76.lld for February. rt Tha surplus of ailver was Insignificant, amount-In- f to but 11.393.M4. It has been expect, ed In financial circle of the east for some time that gold shipments from Europe to the Colled fetates will aoon more than Offset the exports. tion Causes Recessiona Along Line. , see-alo- o, Equalization of Commercia Balances With Europe Certain to Relieve. a 8 Approaching Demoralization. - rt tttrthoted te rrperts CANADIAN EXCHANGE st exports sow tre SHOWS UPWARD TREND that coatiorn..t rooetnoe $ tkst Greet Brlt.w's the prertf rate ssd are buying Fsgbsa MUa f .0.41.0 8o liars sSrsnrr te 8t.O rest. is 4 brs lo II 33 for the dollar faasdtaa 8rilw Frsse J ess sowed St 90.98 reels, s sew fctgb la tbe (bcU is 1 T?. tjMwt opestd sreveressr. st the eyrsisg ef rUx Oats And Eye. the ferries etrkssfs reerbet beet tedsy. was tooled The RozUrit peaed eierfls ' IfT'rVKArOI.IP. lUrre ?triniar. ygW YORK. u. Msrr S4. Te .hr Ffeee shore yewrerfoys ef 14 97 foe the ee Areeri-ret e 4A eeetlsw, mat Hre (.errese (he rate of IS T. oy 4 ee(ti-- o. I 97 eovh were et reels enolre re.rht sed lit stresgib Latre s)erlls( rese ts 95.32 AA 61. rtwrhe S--.r. e M et the r 1.73. R. It tetfl HI IWtk W8t,glWtS. nB, M 0';6iW'. 2. |