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Show it ' THE SALT LAKE TRIBUNE, SUNDAY MORNING, NOVEMBER H, 1920,. 16 STOCK' PRICES CONTINUE' RETROGRADE .MOVEMENT , . Reserve Clearing house Credits and Federal Sur- I plus Make Notable Gains. By ALEXANDER NOYES. NEW TOEK, Nov. 13. After so troubled a week In the credit market, the first point of Interest In Wall street today was the weekly bank statement. Neither the aassoclated banks nor the federal reserve bank published their statements until the stock exchange had closed after a day of declining prices, but both made an unexpectedly favorable showing. The clearing hou-- e banks have reduced their loans $47,800,000 during the week, and the resultant curtailment of deposit liabilities was supplemented by an increase of 330,700.000 In reserve credits at the federal bank. As a consequence the surplus reserve rose $33,500.-00not only canoellng the $1,800,000 deficit of the week before, but bringing the total excess reserve to the highest figure in five weeks. This Increase of reserve credits for the account of private banks caused net Increase of $8,400,000 In the federal reserve banks deposit liabilities, but reduction In government deposits, retirement of $14,100,000 of the reserve banks note circulation and maintenance of a practically unchanged cash reserve left the ratio of reserve to note and deposit liabilities combined at nearly tbe pi In the oanks of a week ago. reserve account It was noteworthy that a loss of some $5,200,000 in actual "gold moderate imholdings (notwithstanding portations of gold obtained from Europe for the east) wag nearly offset by increase of New Yorks credit in the reserve system's central gold fund. That mean repayment of credlta on balance by Interior markets. It is probable that the bank position thus disclosed was the cause for (he relaxation of call moneyrates on Thursday, but the statements naturally had no Inand fluence on todays stock market, moreover R still remains for the report of the whole federal reserve system to show In what direction, if at all, the countrys general credit position has changed during the week. On the stock exchange today was marked by little but a continuance of the The market, previous days weakness. as a rule, opened lower. There were some temporary recoveries, notably In the railway aharea, but these were more than canceled by a renewed decline, leaving net losses for the day ranging from 1 to 8 points for active stocks. Nothing occurred outside of the stock exchange that could be assigned as a definite cause for the day's downward movement. Exchange on Europe again resisted the general tendency. Sterling, francs and lire closed quotably above Friday, after having made even more considerable gains In tha early trading. Commodity markets were steadier, the rice of wheat recovering 4 He and closwhile cotton, ing at a net gain of weak again, ended though temporarily with no Important change from the day before. Something waa made of the voluntary receivership announced for an Incorporated fish dealing enterprise which had found Itself crippled by the fall In prices of its products and by the forbidBut this was not ding money market. an Important affair. It was a new and expertmantai undertaking and the only general Interest which belonged to It lay In the fact thaat an Industry which nobody had been talking concerning had provided the first victim of the week. Financial sentiment could not be described as cheerful at the week-enProbably the excess of pessimism which prevailed on Wall street resulted partly from the fact thaat the stock had failed to grasp the meaningexenange of the situation regarding money, credit and prices when the situation some months ago waa actually at Its moat dangerous stage. In other words, the past weeks market has reflected the dissipation of Illusory and baseless hopes. It la also natural thaat attention should now, as the year-en- d be directed more anxiouslyapproaches, to the question of shrunken values for the Inventories of business concerns. Fortunately, there were bankers and business men who fore- what Is 'sow visible to everyoue. and prepared for 1L This is the factor of reassurance In the existing situation, 0, lc, d. STANDARD OIL STOCKS. (As reported by 1. A. Ho(le 4 c I Bid. ) ) Asked Anglo ML ii. Buckeye Chesebrough . Preferred Continental Crescent Cumberland Eureka Galen old pfd Galena new pfd , Galena common llllnola Pipe Indiana Pipe National Transit W T Transit Northern Pipe Ohio Oil loterl Pete Pena Mez. Prairie Oil Prairie Pipn olar Refg Southern Pipe Booth Pena Oil S W Pena Oil Standard Oil California Btaadard Oil Indiana .... Standard Oil Kansas .... Standard Oil Kentucky .. Standard Oil New York Standard Oil Ohio...... Preferred Standard Oil Nebraska .. Swn A Pinch Union Tank Preferred - Voluntary Liquidation and Aggressive Bear Attack Drive Quotations Down ,to New Low Levels of Year; Sales, 700, 00Q Shares. Commerce, Weahlpgton, D. C.,, maintains a branch offlea la San Erandaoo In order to secure closer contact with business houses, interested In The development of forelgh trade. Th San Francisco cover California, Arlxona.w Nevada, Utah and a portion of Colorado and the office welcomes Inquiries from firms Interested in oversea! business. The bureaus dally publication. Commercial Reports, contain commercial Information from all sections of th world. listed The foreign trade opportunities therein are available to American firms, and the following, recently received, are The representative of this service. names, addresses and other reserved Information may be obtained on written request, giving th key number, from the Bureau of Foreign and Domestic Commerce, 307 Custom House, San Francisco, 'di-trl- 700,-00- advices regarding Industrial and commercial conditions gave impetus The to the market's extended reaction. commercial agencies made pointed allusion to the rapidity with which price reproceeding, tills being adjustments" are confirmed by drastic cuts in the Chicago market. Advices from New England, the middle west and the south tell of further curtailment hi the textile Industry and of acceptance of a 25 per cent wage reduction by the mill hands of a large cotIn Virginia. ton company as deThe- - clearing house statement and cidedly favorable, actual loans $48,OTO,0OO and almost decreasing reserve of member at the federal reof extent serve bank Increasing to the $30,770,000, with a gain of about in reserves, bringing the excess to slightly over $32,000,000, as against last d weeks deficit Bonds were heavy, all the Liberty issues reacting on free offerings. Old Total sales, psr value. $8,125,000. United States bonds were unchanged on call during the week. Conditions at Apex Standard Excellent Manager Lewis Merrlman and other offleers of the Apes Standard Mining oompany are highly pleased with the showing In the east drift on the $00 level. Work hae been under way there for some months and the face of the drift Is now In the dolomite lline, with everything to Indicate that a deposit of commercial ore will be encountered when the main big north-sout- h break is encountered shout 170 feet from where work is now being carried on. Already about 400 feet of drifting has been done In this drift, and previous to taking up this work a drift was sent out toward the north, where several bunches of ore were cut. An effort was made to drive a raise from the north drift, but after It had reached a point forty feet above the level the work was stopped, owing to the excessive heat. Mr. Merrlman thinks he was below the ore with his north drift, but that the east drift will cut an or body Eureka Reporter. Pioche Ore Shipments Continue at Normal Rate RAILROAD BONOS. (At Reported by 3. A. Hogla A Co.) j Bid. (Asked. -- A T A II gen 4a 1095 do adj 4t 1095 Atlantic C L cona 4a 1052 B A O fold 4n 1048 do P L SVfca 1925 do eonv 4 Vi 1038 Cant of Georgia cona 4a 1045.. to Tbe Trlbuse. PARK CITY, Nov. IS A notice sent out by President Solon Spiro and Director IL P. Morris and Sherman Fargo of the Silver King Consolidated Mining company announces a meeting of the stockholders of the company, to be held In Salt Lake November 30 of this month, for the purpose of amending the articles of Incorporation, changing the present from $1,000,000 to $1 260 capitalisation -- 000 The additional 250,000 shares of stock will go Into th treasury, capita) to be lawfully disposed of as decided upon by the board of directors. BOSTON 'STOCK QUOTATIONS. (At Reported by J. A Ce ) A Hngl Vacuum CURB CLOSE. As reported by J. A. Hoyle A Co.) Bid. ) Asked. 89 77 06 80 06 814 564 684 MITi 724 634 774 634 78 734 44 774 724 734 774 80 80 78 4m 82 70 904 A Hle A 744 314 764 774 Bid COTTON MARKET. ,1 .i f $ Asked. 824 . DCI.LTH. kies Nev. sad to srrlrs, $2 14. . it. Mused es track Panama te eoapae Am T ft T Arm A Cm (Ira LONDON LINSEED. 4 8 C. lurch. 17.15c; Mar. LONDON. aanra. Muary Noe. 11-- Bar MONEY, stiver. and llaoeuntrancheaged. 5qd 0 Two-Piec- nc 8pedil e Room Suite of thes Period the Italian Renaissance Him ve- Mahogany, upholstered in a very fine- quality of mulberry lour; loose pillow arms and cushions; all spring edge. Aside from this extraordinary inducement the White , House has many other special offerings in living room suites, the stock being particularly heavy, affording choice selection. - '4 Hu--- ,. . . taw SHE KEEPS FAITH WITH YOU KEEP FAITH WITH HER? YOU--WIL- L 62 14 1518 H 74 94 2a 2M, 2 6 1 4 124 11 148 160 14 1 25 10 6$ 4 3--1. 5-- 8 V. 7 8 6 17 15 P j. 8 34 18 14 25 90 4 88 8 8 14 9 14 1 a a 2 8k RIM M N M 8s..,, 4 ft T 1st en 4. M 00 85 4... 84 te l.. 18 ..... T ft T 8.. 84 Ptcif hw . 8.. MU Fmi N. 4s ... 80 78 8e .e I 0 eoup.106 II He Pa Moat 4...4s.... 908tLft8P ft Ry t7rath Tea ft fee 88 ft .41 ft Wabash 14 8..... let... ..... (MU MU 80 60 88 $82 n88 M. QUOTATION!. Wheat N. 9 hard. $1 881.M. Cora No. 3 Billed, 86c; Nw 2 yellow, 87 ceatt. Oats N. 4!ftOc.No. 3 while, Q 51Q32c: ' Ns. 8. white. 1. $1 58. Rye Barley, Slcfetl.OS. Timothy eeed, $5 M84t5. Cloear ased. $12.00)3 2U. 00. Pork, aoia Inal, . CHICAGO PRODUCE. Quietly, but effectively, the Greatest Mother in the World 1 giving aid to thoe who need She haa not forgotten the crippled, blinded remnant! of the war, who ate itill in ' Army and Navy hospitals, or are being given vocational training. She doe more. She takei to her arma the victima of diaaater in peace, the victlma of flooda fire, tornadoea and other catastrophes. Over 80,000 such unfortunate! wfte ahielded and sheltered by her this year. The Greatest Mother In the World YOUR RED t CROSS is keeping faith with you; keeping faith not merely in your own country, but in devastated Eu. ; , rope as well. t Will von keep faith with her? The he has dona In the pastas been made possible entirely through your membership. Join the Red Cross or renew your membership during the Mar. 1ft Batter, firm. Cretan-tr40 W3r. Kara. Maker. Receipt!, 488 Vests. Pints. 7 Dose; ordinary Praia, tSuttlc: St mark, raae taeladrd, ft 64; standards, SSQ70; smeags parked tints, TOQ 71c; rafHterstsr Praia, I2Q58. . Poultry A Ur, oachanft-d- November 17 to 20, 1920 BOSTON BUILDING HEADQUARTERS-2- 01 lard. $18 85. KIM. $18.800150. t NEW YORK MONEY. NEW TORE, Nev. 18 Prime laarcaadt Excbsat. atesd. Star. paper, aacliiaged. CabIM. .$1.87. Uns Demaad. Praara Ikeaiaad. 5 79: cables, 8 lie. frasca Dtmaad, 8 14c; eabiea, 8 Its. Belglsa Galldera lyemaad, 29 88c; eaMes, It 75c. Lira Draw ad. 8 48c; cibl-- a. I ftde. V Barba Demand, 1 17c; cablet l.le. Greek trackman, 8 87 pee dollar. New York each age as MoatrasL 10 par eeat diacoaat. 886: CHICAGO, FLOUR AND BRAN. MINNEAPOLIS. Rev. 12 fleer, 2Be te 60 lower; Is carload lot, fatally patents guot-- S per et 88 1Sft SO a barrel la 9poua4 eertoe sarks , Brae, CASH 19 1 .... CHI ft P Ry I el Ir ts. 11 Chile Brie gee 4s ..... 48 YORK. Nov, 18. Cuttoa futures opetH December. 18 Wei 17 75c; January. IT 50c; July. 17 BOc. firturc clc4 it.. rt, ; December, 1 77 r ; J.Du.ry, lT.lhc; March, 17.83c; Mar, 17.50c; July. 17.25c. otleo gpot, gutet; middling, 18.40c. NEW eaay; At Beautiful 12 774 8 rf ,....101Lltf KMV4M. K On Uetb , nMtMaiaanVwJr, 77 80 6 $1. 101 1$ 8o coupon 4 rag Co.) . 01 74 80 79 76 NEW YORK BONDS. t(lb do tr GOVERNMENT BONOS. At reported be J a,, , 824 764 76 1 i Colombia Representative In th United States of a manufacturers agent In Colombia eeeka agencies for sale of rubber household and pharmaceutical goods, hardware, electrical supplies. Jewelry, glass ornaments, stc. 83830. Peru Contractor desirea to purchase all classes of construction mareCatalogues chinery and material. quested and quotations c. L f. Peruvian port Cash against documents. 3383$. Chile Commercial agent wants to purchase from manufacturers cotton, silk and woolen textiles, wearing apparel, Industrial raw materials, etc. 33837. Mexico Mercantile house wants to purchase four to six dosen Iron beds with canopy tops for mosquito netting; - also springs for same. 33841. A European government desires to communicate with manufacturers of condensed and dry milk, with view to in that country. Quotations distribution c. I. f European port should be given. 33842 Porto Rico A merchant from Porto Rico, In the United states, desirea to secure agencies for the aale of fertilisers, plantation supplies, sugar bags, hardware, corrugated iron roofing, nail, food products, rope, twine, paper bags and sugar. 33846. Cuba Commission merchant and Importer wants an agency on a commission basis for the sale of canned goods, fruits, cereals, grain and other provisions. 33859. Swltxerland Commercial repre tentative wants to represent firm dealing In cottonseed oil, edible fata, starch, canned sugar, canned meats, fruit, canned milk, molasses, spices and food products. 83860. (India Commission agent desires to represent firms exporting stacotton and woolen goods tionery, hosiery, and sundries. 33865. Dominican Republic Agent wants to represent manufacturers of wheat flour, washing soap, rice and general merchandise. Also In position to handle commercial affairs of American firms. Correspondence In Spanish. wants to pur3387$. Mexico Firm chase boiler, with Injector, and grates suitable for burning wood; double expansion steam engine, cotton gins, double press for baling cotton, etc. Further particulars on Cash with order. Correspondrequest. ence in English. 33882. Bouth Africa A manufacturing ooncern wants. In fairly large quantities, fuel oil, rosin and "L C. tin. 33887. China A general importing house In China desires to arrange connections alth firms in the United States 33892. Chile Firm desires to purchase a small plant for the manufacture of woolen goods, such as sweaters, hosiery and underwear; thi installation to include all necessary equipment for the preparation of unwashed wool for menu facture. i a opm, 84 81 .! Bran r lit ii i alia Bgular Pric aa.'i ' e, fiA CHICAGO. Nov. 12. Short covering 78 824 made a higher range for all grains today, The markets 824 with wheat In the lead 98 4 do con 44 1021 984 were oversold and offerings were light, 1907 4a but 654 the to 864 hold as heavy Reading gen upturn failed St Paul A U D jfuar 6 notea selling developed and coarse grains broke 1023 764 At the finish wheat shoaed a sharply. 74 n y Terminal 4a 1930 T14 714 net gain of 8c to with December 754 754 Southern Pac lat and ref 4a 95 to $1 80 and2c,March $1.70 to 115 . 1164 $1.79., do cone 6a 1034 c waa Corn to lc low $1.70. higher 1920 do con? 4a 764 774 er. Oats were to c lower, unchanged 86 U P lat land grant 4a 194T. W4 and provisions were unchanged to 75 do 1st ref 4a 2008 754 higher. 82 do lat cone 4a 1927 824 There was a general disposition on ths Un Ry Inv Co lat 1 eotl Tr 20 884 part of early buyer to take profits In S P 4a 1024 844 844 wheat, many of them not caring to leave Virginia By lat mtg 5a 1962. 85 their trades over Monday In view of the, 844 Western Pac lat 6a 1046 disappointing action of the stock market. New York reported two cotton oil exNEW YORK CURB STOCKS. porters In financial difficulties, which 'also In depressing A. A aided J. Co.) There was Hoglt by Reported (Ac some export demand prices vki the gulf, but Bid. Aaked, salea were not reported. A liberal export luduatrUle business was claimed to have been done 9 10 Aetna Kxploaltn after the close yesterday. I Me 14 8 Ship Coarse grains were under pressure, but, 6 4 Wright Martin with the exception of oats, prices fallsd 24 27 Peerless to show and practically 48 Gen , Asphalt 484 all the much weakness trading was abovs yesterdays 298 9oo City Berates .... ....... was close. some There demand 5 export Preferred 654 85 34V. reported for corn at th seaboard. Bankers Provision Retail Candy 84 averaged higher with grain 4 13 10 and hogs. Tobacco Export 8 8 Goldwln RANGE or THB LEADING rCTTBEJ. Oils 3 t Barnett .... Omar Boons Mines Caledonia Canada Copper Magnn Copper .... Mother Lode old.. do new Jflptnatag Tonopnh Extension Con Copper Mows Sound ... (lee in Mining Lai ted Eastern 3 . . 70 60 ... ........... vl 874 764 804 794 ( BOSTON 78 64 87 OMAIt . usden Elk Basin Federal OU Glenrock Mttra Pate Merritt Widwest Refining !.... Midwest Oil common... Northwest Okmulgee . Sa pulps Sequoyah Markland Simms Prod A Refg Washington 704 714 824 71 724 ref 44s 1961.... Recently In (it Northern Central ref 4a 1955.... prospecting at the Ontario min shove llllnola do 84a secured 1084....... the1 1700 level a body of ore was broken lat 8a I960.... Into which has now opened up to better K C Southern Loaia A Nath naif 4a 1040.... than eighty feet, according to report. Michigan Cant deb 4a 1020.... With the old Properties developing big N 1062 O A NK ref ore bodies In virgin territory, new proper- N T Central ref 44a 44 2018.... ties getting on the shipping list and lanote Sept 15 20 do coll bor conditions Improving all the time. New York K y 6a 1042 .... Park City should be experiencing a real North Paclf P L 4a 1097.. mining boom along about the first of the O S h ref coll 4 1020 Penn R B gen 44i 1065... year. Special 774 784 82 13 King Con. Stockholders May Amend Articles 77 70 714 do coU 6a 1020 C A 0 fan 44s 1002 C B A Q III dir 4a 1049 do fan 4a 1958 do Joint 4a 1921 Chicago A Gt Wert 4a 1050.. A Pool 4 Via 2014... do fttt 44a 1089 1082 do coot do dab 4a 1084 Chicago A Nw gen 4a 1987.... C C C A St L gen 4i 1998.... Cent Pacific lat 4a 1040 Colo A Southern lat 4a 1929 ref 4a 1048 .. pel A Hudaon Florida A K C lit 44a 1059.. Fine Ore Body Opened Up at Ontario Mine Special te Tbe Trlbnna. PARK CITY, Nov. ct CaL 33339. die-cou- Or shipment from the pioche district for the week 11 ended November were up to the recent average and showed nn Increase over last weeks total. The Prince Consolidated remains the largest shipper, with the Virginia Louise following next In amount of tonnage. The mines contributed to the total as follows. Prince Consolidated, 1650 tons; Virginia Louise, $00; Black Metals mine. 210; Combined Metals mine, l0; Bristol Silver mine, 100; Silver Prince Consolidated Mining company, 40; total, 2760 tone. 4 The Bureau of Foreign and Domestic share. Special to Tbe Tribune. PIOCHE. Nev., Nov. 13. roation Regarding Business Opportunities Abroad NEW YORK STOCK' LIST. 8les.Hifb.Low.Cloee NEW YORK. Nov. 13. The 8hort session of the stock market today waa characterised by continuance of the recent heavy selling movement many popular Issues registering new lows for the year and In some cases a much longer pe- rlod. Prices e reacted for the long account a free hand. Not again, giving the bears wae of that sort, all of the days selling however, signs of more Involuntary liquidation being observed. Extreme declines of 2 to 5 points in the more volatile Issues were effected with little difficulty. Rails and shipping were relatively steady for a time, but even those shares, including Southern Pacific and Reading, broke sharply at 0 the weak close. Sales amounted to Week-en- U. S. Bureau Supplies Infer, it moit. - , gd RED CROSS FOURTH ROLL CALL I 1 . 1 |