| OCR Text |
Show r THE. SALT LAKE TRIBUNE, MONDAY MORNING, MARCH 21, 1921. 10 , GASOLINE ( IF THE CROWDS COME HIM ROUGH ALLEY-rTREAT- ING AS FAST . TODAY . AND TOMORROW AS THEY HAVE THE RESTOF THE WEEK OUR ADVICE IS COME EARLY THESE larly Its alternations of recoveries and declines. Its absolute Irregularity, served no purpose unless to reflect the uncerof fluctuation tainty and momentary s. feeling In the field of finance and TAX PAYMENTS MADE WITHOUT bust-nes- MONEY MARKET DISTURBANCE Uncertainty Stressed.. It Is doubtful whether that uncertainty has ever been greater In our time. The period of depression after a great financial reaction has always crested at some stage of Its continuance a feeling of and Vacillation Confusion in Price Movements flected by By ALEXANDER Re- Community. DANA NOYES. Sfoifetor jjwfc Simtf. NEW YORK, March 20. The confusion and vacillation in last weeks movement rof prices on the stock exchange, the fre queht seeming reversal of attitude and ' sentiment, probably reflected the whole communitys frame of mind more ac eurately than, anything else could have done. In Wall street, there will always be stretches of time In which the attention of financiers and business men Is directed to some particular branch of . the markets or some special phase of , the situation and In which the stock market merely registers the Inferences 4r of the real investing community regard- , ing occurrences in such quarters: 6 Last November, for Instance, every one was watching the fall In prices of commodities. In December, little waa "' talked about on Wall street except the forced selling by companies or Individuals-of their holdings of securities and "? merchandise, in order to meet pressing . maturities or credit; a condition of things greatly emphasised by "sacrifice sales to raise money for the fourth In. , com tax Installment or to "establish losses for the 1821 declaration. In Jan-- i uary and February the course of the , money market and of the market for o new securities divided attention with the rapid recovery in foreign exchange rates. ' Prices Fluctuate. During all of those months, up to a very few weeks ago, prices on the stock o exchange moved down or up according to the Inferences which the whole body of the Investors were drawing from what occurred In such other markets, and the stock market was in itself only a secondary matter of Interest. At the present time nobody esn take the fact that the communitys ml, at tentlon Is converged, not on the move-- e M ment of these other markets, but on the movement of the stock market itself. . This la not, apparently, because of the belief that the outside Investing and bus- h ess public Is active In the market, that Is admittedly not the rase, but because the existing bewilderment and confusion of mind regarding the whole financial V outlook Is so complete that the experi- ments of professional speculators In test ' ing the character of the situation and . the attitude of outside Investors cam to be the only possible Indication of what , The stock market ,, be situation was. - Itself, however, has hardly helped to-- , last week particu n . - i Bears Making Most of Opportunity to Push Downward Security Prices; Railroads doubt and pessimism; but on those earlier occasions, In 1908, for Instance, or in 1881 and 1896, It was at least possible to see what was necessary to pull finance and Industry out of Its slough of demain The then, question, spond. was If and when those Influences would operate. At the present moment, the problem By W. S. COUSINS. Is not our debt to Europe, but Europes debt to us; not whether we can achieve YORK, March 20. The 1921 because the existan "export surplus, day has come and gone, and, ing trade balance In our favor I Itself comparatively little financial a troublesome problem, not our Import or embarrassment has of gold, for we are now Importing all that the outside world ran spare and the been left in Its wake, It Is safe to are countrys present gold holdings I say that American corporations and In-- I larger than a year ago. It la dividual were subjected to s heavier not clear to what extent even a great strain this year's tax payments harvest would help the financial situa- j than Inin meeting since any year high taxes be- -j tion; a very serious problem of the mo- came Imperative. And yet, the banking ment arises from the unprecedentedly Institutions were called Into the process large amounts of grain and cotton unlimited extent, banking officials sold In our producers' hands, and in cot- 'only to athat loans for tax purposes this ton especially a movement Is seriously stating were on a modest scale, and, for the under way to reduce the next crop. year most part, considerably under expecta- -' Above all, there Is no possibility of what tlons. used to be called the "return of EuroThe tax collections were In no respect pean capital to our marketa" In that reflected or foreshadowed In this week's matter, the shoe Is on the other foot. money market, where both call and time loans remained at the rates from which they have not varied for a month or more. of If the first Installment on the taxes, based upon last years Incomes, a ere to Ore Sells $10,000 be as large In amount as any of the quarterly payments of last year, the treasury From Montrose comes a report, accord- department would have taken from the ing to the Rocky Mountain News, that market this week a sum larger by two to the largest radium ore deal ever made In three hundred millions than It will disMdntrose was completed when Andrew burse against Interest payments and net Nylund of the Gateway section sold a maturities of short-terloans. It la carload of carnotite ore to G Barlow obvious that this years tax collections Wilmarth of the Montrose radium sam- will be less than those of last year, when pler, which will run considerably In exfour billion was garnered cess of 10,000, This Is the richest ore approximately by the government's dragnet. The rethat has ever passed through the Mont- duction In tax proceed! has been roughly rose sampler. estimated at from 10 to 26 per cent. The ore was mined In the Paradox radium belt and represent! the most val- Investments arid Speculation. uable ore ever shipped from that Section The bears have been making the most and the highest valued ear of ore ever handled In Montrose. Considerable ri- of their opportunities to push downward valry developed during the placing of the prices of securities, and their efforts this load of ore on the market, and sev- have met with considerable success dureral bidders sought to purchase. ing the past two weeks. They have been Nylund was the owner of the first particularly fortunate In discovering weak ore run was of that through spots in the specialties and the Indusshipment the local sampler two years ago. Tne trials, some of which have offered little or no resistance to the pummellng tactics sampler Is now filled with ore and reports that the radium ore bust of the bear professionals. The bears have been operating on the theory that the ness is booming. steel industry will finally be drawn Into the wage disputes now so much of a detTWO BABIES ARRIVE. riment to the railroad situation, despite Special to The Tribune. the position of the leaders of the steel MT. PLEASANT, March 20 A girl waa industry. The real struggle of the railborn Friday to Mr and Mrs. J. B Staker, road executives Is, of course, a struggle Jr. A son was born to Mr. and Mrs. Par- for supremacy, and the unions have simley Olson of Wyoming at the home of ilar aspirations in the steel Industry, but Mrs. Olson's mother, Mrs. R. N. Ben the unions are likely to be satisfied with nett. attempting to do one thing at a time, and they have plenty on their hands In the fight for the control of the railroads. WIFE OBTAINS DIVORCE. A serious railroad strike would affect the LOGAN, March 20. Laura Bradshaw waa granted a divorce from Fred Brad- steel Industry Just as It would affect all shaw In the district court yesterday. The other Industries, but the employers are defendant In the action Is required to in a stronger position to meet a strike oav 826 per month alimony and Mrs. than they have ever been m before, and Bradshaw will have the custody of three the union leaders know It. A strike would be the most disastrous thing for the minor children. unions that the labor leaders could undertake, especially In view of the present attitude of the public toward Incidents of this kind. Operating Under Strain. NEW I j , Carnotite Carload for m WII-mar- th 'ty&g AVIATORS life is filled with hazards. Yet his risk is not one bit greater thanyours when your system is undermined by dangerous constipation. When constipation holds you in its grip, sickness and disease are invited momentarily. You cannot too quickly rid your body of this dread enemy. You take a physic yes but how soon will it act? Time is vital. Germs multiply by millions in a clogged tinal tract. d, intes- slow-actin- g laxatives endanger your health. For sure, quick results take only a water laxative, which will really lush the system. everywhere . recommend Pluto Water, because it acta promptly. The minerals in Pluto are The water helps gently to flush away all impurities. Relief is pleasant, certain, complete. Pluto Water is beneficial in treatment of kidney, liver and stomach troubles, rheumatism and nervous disorders. Bottled at French Lick Springs, Ind. Physicians never-failin- , When nature wont PLUTO will fT- -- It now appears that the old "vicious circle of wages, cost of production and commodity prices Is to reassert Itself, but In the reverse order to that In wmen It wound itself Into our economic status two years ago. As the rising prices and the diminishing purchasing power of the dollar forced wagea upward. It is now contended that ths substantial decrease In these prices should be sufficient Justification for the downward of wages which have been, "readjustment" and are being, made throughout the country. The more strongly organised labor bodies have thue far successfully resisted all attempts to trim down their wage scales, and It is this, say the economists, that has temporarily blocked the wheels of progress. Criticism has been gradually shifting during the laat few weeke from the retail dealer to the union laborer, who is being pointed to as the main obstacle to the return of normal conditions. It Is contended that the deflation of prices has progressed far enough to warrant considerable deflation In wagea, and a new struggle between capital and labor Is thought to be Imminent. I'nfortunately. such labor leaders as Oompers, who to understand economic conditions,ought are ruthlessly stirring up the old feelings of strife and hat. Instead of pointing out the true situation to those whom they are supposed to lead. A of wages Is now felt to bereadjustment Indispensable to the solution of most of our IntrU-atIndustrial problems, notably those of the railroads The revival of building la said to be waiting on ths readjustment of steel while these In turn are waiting prices for the acceptance of wage scales that will permit of a lower manufacturing cost. Thl la tho reverse of the vicious circle that caused such embarrassment to us all two fears ago, and upon Its proper unwinding will depend the measure of progress which w shall be able to make during the next three or six months The labor leaders profess to view with elarm the drive which Is being made In certain quarters for the open shop They say that employers are taking advantage of the current depression and of the extensive unemployment to break the spirit of labor, and declare that there Is a n-wide conspiracy to destroy unionism. If such a conspiracy exists it la not a 'eepet ons. for every man. .roman and child In this country It directly Interested In the return of economic normalcy. and la becoming more and more unwilling to continue to pay wartime prices for ths necessities of Ilfs or to condone the wartime wagea which keep levels commodity prices at wartime The public, always the "battleground" for contending factors In eeonomlo disputes wants readjustment as soon as possible, and will have little toleration for unreasonable demands by either elds On the whols personal Incomes during ths coming year will be subjected to radical declines, but not. It la hoped, very much out of proportion with ths revision of commodity prices, so that the equivalent of a day's labor, measured by what It will secure by way of the necessities of life will be about the earn as heretofore. In this readjustment It la felt that there should be no favored class but that all should fare Bilks Probsblv never before In Ih history of the country transportation have our natio- Four phytician prescribes it VJ . ' - railroads made such a poor showing from the standpoint of net earnings as In 1920, and this in spite of the fact that the law was railroad hailed by all as the final solution of the railroad problem. Last July the Interstate commerce commission granted increases of from 26 to 40 per cent in freight rates, after which the grant In CLUB ELECTS OFFICERS. railway wages added over 8600,000,000 to Special to Tbe Trlbnse. the expense of operation. This inKAYSVILLE, March 20. A well crease, slightly greater than the carriers themselves hod asked for, wag hailed as and enthusiastic meeting of the the final remedy for the Ills of the counKaysville Commercial club was held at carrier systems. trys the local clubrooms Friday evening, at which time the following new officers Railroads Troubled. But the commerce commission more were elected: President, Z. Henry Ja correctly and more conservatively summed cobs; first vice president, Mrs. William P. Epperson; second vice president, John up the situation In the statement accompanying their decision, "What revenue G. M. Barnes, directors, John R. Galley, will actually be produced no one can tell, Mrs. Sumner Gleason. R. Ole Layton, since It Is Impossible to forecast with Mrs. George W. Underwood, Joseph B. any degree of certainty what the volume Jerman and. Mrs. Frank L. Layton. of traffic will be." While It cannot with definiteness be stated that there Is any direct relation between the higher freight rates and the falling off In the movement of freight. It la certain that passenger traffic has been materially reduced by the 26 per cent Increase in rates and by the InordiPictures Home of nately high price for Pullman accommoIn this respect, at least, the dations. COMEDY THE GREATEST rates have been more than the traffic will EVER MADE bear, and a downward revision seems Imperative. Railroad managers are em- In their declaration that freightphatic, rates must be subjected to the same process In order tq stimulate the movement of commodities from producer to consumer, and thus create tonnage for freight cars and locomotives that now stand ldlv on the tracks or In roundhouses. Coupled with this Is the demand for abrogation of the "National Agreement with labor union, which Imposes such a burden upon the carriers. One great trouble with the railroads now Is that they are unable to retain for their own use a sufficient percentage of their gross receipts. They are not only paying high wages, but are paying too dearly for work that Is not done, or that could and should be done more efficiently The roads by fewer men in less time. must be permitted to cut the red tape an expensive that has been shown to be handicap to their progress and welfare. AMERICAN Super-Mast- Mill of Simon Silver-Lea- d Mines Nearing Completion The Simon Mines company has prepared prints of the flow sheet of the mill now being constructed, and announces that construction Is 66 per cent completed and that 80 per cent of the machinery and The mill materials are on the ground. will employ the Minerals Separation selective flotation process, the zlno and lead being separated. The mill has a crushing capacity of 150 tons per day. The product, zinc and lead concentrates, will be hauled to Mina by auto truck and shipped to the smelter of the United States Smelting. Refining ft Mining company at Midvale, Utah, for treatment MINA. Nev., March 20. LAST TIMES. , OF N D006LAS FAIRBANKS IN THE , hut THREE BARTOS THREE SONS OF JAZZ THE PALS PANTAGES NOW PLAYING NOW PLAYING Marguerite Fisher PAYMENT GUARANTEED A Drama of Romance and Intrigue ' And MARCUS LOEW VAUDEVILLE Silve- r-lead L FIRST NATIONAL ATTRACTION a BROKE ALL RECORDS YESTERDAY t GOOD NIGHT, LONDON MAUDE EARL & CO. Matinees 20c Kiddles 10c Sundays, Evenings, Holidays, 35c WHY PAY MORE?" twenty-four-ho- Labor, Wages and Prices. WATER world, so it has been suggested that an airplane line service be established. Relative to the matter, Flying says: To test out the Idea, local men nt an airplane over a tentative route. With Pilot F.ldrege at the wheel and carrying two passengers, the plane made a circuit of approximately sixty miles over the minmining region, landing just fifty-one utes from the time of starting. Heading first for Colfax, the plane passed over the following places where mining Is being conductedMorning Star, Ioa, Hill Birds Flat, Little York, You Bet, Red Dog, Nevada City and the Grass vallev district. The most of these places are off the railroad and on very poor roads, and It is estimated that It would require eight hours to reach them with the most powerful automobile. The cost of was calculated fuel and oil for the at 3 18. It Is stated trip that small mines are often forced to close down by reason of breakage of machinery and difficulty In getting In repairs, thus losing valuable time. To overcome this, an airplane service has been suggested. American Mine Reporter. It's a Second 'Miracle Man! ITS A LONG SHOW Coma Early The remarkable George Melford production of The Faith Healer U j, Featuring popular SILLS And a remarkable cast The greatest Easter picture ever 4 faith made. story of love that is destined to stand foremost in screen. the annals of the Produced bv the man who made "Behold My the from Wife," masterpiece of Americas greatest dramatist, it has more punch, heart, appeal and real vitality than any picture in a long time. , Airplane Service Tried tor Remote Mine Camps Some of the mining towns of the Sierra Nevada of California are Isolated by Impassable harriers during th winter time. Naturally the miners are desirous of keeping In touch with th rest of the TODAY AND TOMORROW ONLY THE 2836 MILES FIRE-CA- P See amaxlng volcanic eruptions, OF RAILROAD startling earthquake sesnee. Marvelous Picture. A Are owned by tbe Chilean government, which, with telegraph lines and other national properties, had a value of $240,000,000 December 31, 1918. Proceeds of Chilean national loans have been used In acquiring basic securities. Further development and expansion Is contemplated in connection with a new Issue of 824,000,-00We are 8 per cent bonds offering theee at a price to earn not leas than 8.10 per cent to ths Investor. Wednesday 1 Day HARRY CAREY In "HEARTS UP" Something New for This Star BROADWAY 0 NOW PLAYING MORE DAYS THREE TOM MIX In a smashing wonder picture The Road Demon PALMER Bond Mortgage Co, Auto Saddles Her Action RUTH OP THE ROCKIES W COMING A THURSDAY return engagement NORMA TALMADGE In "PANTHEA Walker Bank Building 411-41- 6 HOLY WEEK EPISCOPAL GOVEMMEIT BODS March FOREIM J. A. Wasatch EXCHADE IIOGLE & CO. SALT LAKE Its Main St. OGOIN Eceie Bldg 71 s Tot. IU pan positively Merrt that there does not exist single css of 1Rluod Dleesse, Klilnev, or any other cure promptly, safely, permadisease of men nently, If amenable to treatment. It doe me good to cur men who are suffering from I use any form or bad blood, drains or discharges only the latest and beet method and I medh'lnna. t In am up to dal evrry particular; an aa long aa I atn In business will be regarded aa th leading spe, cialist. I Invite you to my office to learn of my methods. to I dally, 10 to 18 Hundays, 7 to I evenings. 1 UKESTUEIT SECURITIES (jW, Office - DR. M. Qrlfflth '111 Main St. SERVICES to March 2S, Inclusive NEWHOUSE HOTEL 12.10 to 12.86 p. m. 21 SPEAKERS 21et The Vsry Rev, Mend, Fleetwood W. W. Tuetdey, 22nd The Rev. Mirk HI. fenbark Wedneedey, 23rd Th Rev, H. E. Henrlque Thursday, 24th Th Rev. W. W. Re Friday, 26 th The R. Rev. A. W, Moulton Saturday, Moulton Seth' Th Rt. Rev, A. W. EVERYONE WELCOME V 4 |
