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Show THE SALT LAKE TRIBUNE, FRIDAY MORNING, NOVEMBER 4, 1921. 24 ere committees Their only salvation prompt action by congress The federal trade commission reports issued by the government are replete with data respectBankers ing the beet sugar Industry. can tell you of the serious financial condition of the companies. The question of providing. money for the present cam pslgn ha been difficult. Several factories are unable to begin operations, and many others have found It necessary .to 'mortgage their daily production." 1 V. S. War Securities Make Sharp Advance NEW YORK. Nov 3. All Liberty bonds and Victory loan Issues today reached new high records for the year, presumably the result of the federal reserve board's action In reducing rediscount rates. Odd lots of Victory 4U rose to par during extensive trading In that Issue, while substantial gains were recorded In the Liberty issues, notably the 4 per cent series. The highest records for Victory 49(s wa $99 82. the lowest 94 70. . REQUIRE TARIFF n President Carlton of Holly Company Says Without Duty Industry Will Lose. REVIEWS BANK STATEMENT. WASHINGTON, Nov. 8. Combined resources and liabilities of the twelve fed eral reserve banka at the close of bust ness November 2 were reported tonight by the federal reserve board in thousands of dollars, as follows: Resources: Gold and gold certificates, $458,468 Gold settlement fund, F. R. board, -- y I Similar Move in This Coun try Regarded as Indicat ing Return to Normalcy. 3502,847. Total gold held by banks, 1981,116. reserve agents, Gold with federal - NEW YORK, Nov. $. Sentiment In financial circles was perceptibly heartened brought about by a price below cost to today by the lower rediscount rates anmany of the plantations nounced by a majority of the federal Cuban the While readjustment prke 4 reserve banks and concurrent action of has not been completed. It has reached tbe domestic beet sugar Z Domestic the Bank of England. Production. a point where unless the reproduction must disappear 1463.601. In- -. tions. Especial Interest attached to the fact ' quired protetlon affordedthebynewan All 1808,929. other, that reserve banks In principal agricullegisreased tariff Is included In Bills bought In open market, $87,601. tural and cotton, centers were enabled to Total bills on hand, $1,347 931. The following letter of Presklent A. C. lation. reduce their money rates This was acU, 8. bonds and notes, $38,821. Ckrlton of the Holly Sugar company Facing "Losses. as proof that extensive liquidacepted U S certlfU ate of Indebtedness: of grain and cotton loans made In sett forth the problems of the industry certificates (Pittman act), tion "With the present price of less than the last et year had been effected, thereby In one of the dearest statements 5 cents factory net for refined sugar, tne $144 876 releasing enormous sums of money long All other. $19,822. producer are facing anmade. Mr. Carlton' company operates domestic beet tied up In the froien credits. Total earning assets, 11,619,459, year of loase rather than the althree factories In Colorado and three In other The local money market also showed Bank premises, $31,346. most vital profit required to reestablish ease. Call loans dropped from fund California. He writes. Five cent redemption against further per bank credits to 4 2 per cent on the stock excent per F. R. bank notes, $8,038 An additional tariff of Spin the Vnlted States over a million before noon and private 328 change long $568 Uncollected Items, , ahow a small profit for the loans at 4 per cant were reported. acres of most Intensively cultivated land pound will All other resources, $18 884. and the beet grower, and without factory . culture. Is yearly devoted to beet , Total resources, $6,111,633. this even our predltors. who will own tne WASHINGTON, Nov. $. Reductions In Liabilities ... Sixty million dollars a year Is paid to properties at 10 cents on the dollar, will rediscount rates already announced and $103,020. In, Capital paid not continue exoperations. beet growers, with an equal amount (lending were described today by Secre$213,824 new Cuban the Surplus. increasing crop With Reserved for government franchise tax. tary 'Hoover as "pointed milestones In pended In freights, coal, lime rock, supthe visible supply, continued price dethe progress toward recovery. plies and labor at the fai lories are certain and the additional tariff $64,026. of our clines This means that of Discussing financial conditions, he said losses to serve the lessen Deposits: will only Is that the fall of interest rates was annual bill for sugar expended at tho domestlo produrer Government, $59,917, Our plea la no of a demonstration of relief from $1, the Ihcreaslii power resene borne, account, Member bank, purchasing to Increase our domestic production, but credit strain. 650.746 our people. to proteit what we have, and. IncidentalIn a "pronounced phenomenon of was It All other, $31 675. With a normal sugar eonsiimptlon add $3(1 000,000 to the government 9 the tall end of depression when money the United States of 4 000.00 tons, we ly. Total deposits, $1,742,338 free trade England has revenue Even Baker-ize- d rates decline, he said, expressing belief F. R. notes In actual circulation, are confronted with an available supply 441 cents tariff on sugar, and France, 122 that the new rates would increase proof over 8,000,000 tone, as follows cents. about Tons. F R bank notes In circulation, net duction and aid the situation generally ' The history of the sugar (rde demReduction in the rediscount rats of the domestic ,1921 production-o- f onstrates the value. In. the matter of liabilities. $84,986 902 000 . ... Dallas reserve bank from 8 per cent to Deferred availability Items, $481,823. beet sugar . . our own domestic supply. of control, price Haw sugar on hand In Cuba. .1,700,000 All other liabilities. $23,685. per cent was announced today If our country were dependent entirely V Total liabilities, 86,111,523. tCuban raw sugar, Atlantic by the federal reserve board, upon foreign production, we would soon to 60,000 reserves of and Ratio seaboard total deposit pay the price fixed by tbe foreigners. No F. R. note liabilities, combined, 71 per LONDON. Nov. $. The Bank of En11180 domestic beet sugar cargreater Calamity can befall the domestic cent. ...... 80,000 consumer ried over gland reduced Us rate of discount to 6 than to have the sugar supply notea P. R. to reserves of Ratio er cent from 6 New Cuban crop production gold forper cent this morn-ncontrolled by of the United States The last reduction in the discount beginning December 1. .... .1,900,000 , eigners, who, paying no taxes, snd free In circulation after aetting aside 35 per 97 100,000 on cent was rate liabilities, made per mocrop fjoutslana against deposit July 21, last, when it from restraints so far as pools and 600 000 1 was cut one-haHawaiian crop per cent. are concerned, could control cent. nopolies - Porto Rico 2 400.000 due chiefly to crop Todays reduction was prices, production, and !! things that go reduction tn the federal recrop ..... 250,000 VERNAL PACKERS REOPEN, IphlllptSne 1921-2- 2 yesterday's Into the maiketlng of this commodity. serve bank rate In New York, It was Iperisl to The Tribune. 8 042 000 b Total ...... In financial, quarters. The German Bonus. VERNAL Nov. 3 The Uintah Pack- understood The government financing has recently steel-cu'Hawaiian, Philippine and Porto Rican Islon of Vernal i has and Pro ing company has the to proour been paid For years Germany assisted large subscriptions to Sugars are admitted duty free, due again opened for at live business and tha treasury bondsby end our little black ducers a bonus, resulting inA the producrepayments poitoy of adopting large The volume of 'business awaitotders tariff suffition of sn export surplus. been made bv the government to trot he re. Indicates that the company will be have the Bank of England. Thus, with tha cient to guarantee the production ef our aing factor tn meat prodthe marketing financial situation so improved in the entire sugar requirements would appear ucts of this section. Caban Production. It 4s buying all of United to be a sound economic policy for the the States that a reduction of the Cuba doubled her sugar production United States. . poultry and fat hogs that can be federal reserve bank rate was made, the 7obtained and la fast preparing to handle bank authorities felt able to during the war. and is now lustily degive the eastern The manufacturers, protected most of the beef from this section. manding additional tariff preferentlals commercial interests here much needed per In with a decrease In the present duty on by a tariff, should remember that 92 and same You can also get this coffee JNSTANT NOTE: relief by a reduction In the rate by of thetr business Is domestic, TO WAREHOUSE CORN. sugar, while at the same time reducing cent of one per cent, which le expected form. Ask your grocer for Soluble Barrington Hall the common labor daily wage scale of therefore the beet industry is of impor3 In to Nov. financial be shortfollowed circles Investigation WASHINGTON, contains the drinkable part of a to them, and that free sugar does Coffee. A medium ft caah, prevailing last year, to 40 cents tance and development of plans for warehously by a further reduction. Baker-ize-d HalL not mean cheap sugar. of a day paid in commissary supplies, Barrington pound be underIs to corn scale on a ing large During the war the beet sugar pro"Nearly all of our agricultural comthe a taken committee by appointed Reduction by of of rate tbe discount by duction did not Increase, due to the food modities are produced In excess of home war finance corporation. the Bank of England follows an anprice control under the J.ever bill and consumption, and the prke Is therefore Announcement of step was made nouncement-by the United States federal th high war profit and other taxation. fixed In the worlds markets. Sugar Is today by the finame this which reserve board that the discount t 'The Cuban sugar sales commission one of the few agricultural commodities said the proposal hadcorporation, the approval of rate of federaljeaterday reserve banks In eight can be protected by a tariff. attempted to readjust the market in that Wallace Mellon snd Secretaries had been district , cut. .. Fluctuations of ' an orderly wav, but ultimately the necesFifty per cent of the beet sugar comIt will be recalled, the corporation the rate established by the Bank of En- sary decrease In Cuban production will be panies are today in the hands of bank- that jears ago when there was a gland have been of great Interest in the United States, indications of was" successfully undertaken In carrying the financial situationbeing In London. forward tha surplus.-- . It. ia .believed that -- When the world- - war broke-euttAuways and means may be found by which gust, 1914, t(ie rate was advanced to 10 a considerable part of the large surplus per cent, the highest In the history of now on hand may be safely stored and the Bank of England, that point, having financed on a sound business basis until been touched only on two occasions, durIt esn be marketed or utilised with bene- ing the panics of 1857 and 1866. After a fit to the farmers tn the corn belt as few days, however. It was reduced to 6 well as to the entire nation. per cent and later to 6 jjer cent. The purpose of the committee. Manento ts aging Director Meyer explained, able farmers to hold their corn until a fair price can be realised for the crop. The corporation, he said, plans to advance funds through ths banks, to the farmers on the security of corn warehoused. which would enable the farmers MEWS HEAVY WINTER UNION SUITS Cotton ribbed or to hold their crops for better prices. : . . . fleece lined. Special e CHILEAN LOAN MADE. WOOL MENS HEAVY DARK OXFORD MENS EXTRA HEAVY NEW YORK, Nov. 3 The new Chilean UNIONS-- A SWEATERS $3.50 value. government loan of 810,500,000 8 per cent AQ , bonds wts offered at mills bought sparingly of tho less attracQAiHO Special Special Officer tive low South American wools. Withpublic male today bv a local banking drawals of the Austalian wools, which syndicate and was soon oversubscribed MENS HEAVY WOOL HOSE MENS GRAY FLANNEL Team to 99MU of was bonds had to were the been The sell well, selling price expected 50c values. SHIRTS Special ft FAIRS or a yield of about 8 11 per cent, c The Rail Official heavy, due to high limits Imposed by the ApFOR , to Special will be devoted First Lieutenant Elmer E. Hall, officer government. proceeds of the loan BOYS FLANNEL SHIRTS AND d South American wools tn charge of the marine Fair improving the Chilean state railway recruiting disBOYS HEAVY Secsold at 40 to 50 cents, clean basis WAISTS Age 6 to 16. Transcontinental 19 Special ond clip Argentine low sold trict cf Utah,- received orders yesterday CUT INTEREST RATES. ' SWEATERS Special . . DOC t 85 cents, clean domestic Inferior fine to proceed to Quantlco, Va , to take a WASHINGTON, Nov. 3 Reduction In and similar sold at 38 to 4( place on the interest rates on two classes of loans Rates State. California foot ha II team of EXTRA SPECIAL Boys suits, l, also corduroy; The . top price for the marine OR was announced today by the war finance rents, clean basts Lieutenant Hall la corps 48 cents, paid for wool was scoured It said The Incorporation corporation. two pairs pants. Up to $12.50 values well known In Utah athletic circles He California slightly defective. had reduced It rates on advances to was a member of the marine team banks for agricultural or livestock purThe rates of reduction transcontinental at Mare Island, Cal., in 1917. WE CAN SUPPLY YOUR EVERY SHOE NEED, WHETHER IT poses from 544 Pr cent Into 5 per cent on on VISIT SUGAR FACTORY. Califoreastern from O to Evan Ames of San freight points Captain or Diego months six advances maturing MT PLEASANT, Nov. 3 More than will succeed Lieutenant Hall as officer IS WEAR, STYLE OR COMFORT, AT PRICES THAT WILL all less without the privilege of renewal and nia and intermediate points and to the Including in charge here. He is due to arrive about on all other adyances for agricultural or north coast and intermediate points will 100 citizens qt Mt. Pleasant, FIT ANY PURSE. Mayor Thomas Braby snd nearly all city November 24. Tdeutenant Hall leaves tolivestock purposes ftom 6 per cent to have some effect on the of Salt , excursion the shippers officials, joined sponsored day for the east Sergeant John A. Alex614 Lake City, according to J. A. Reeves, by the Hub club to the Peoples Sugar ander, formerly In charge of the marine factorv at Moroni yesterday afternoon. canteen at Mare Island, has been transGOLD IMPORT8 HEAVY. general freight agent of the Oregon Short At the factory the visitors were watch- ferred to Salt Lake on recruiting diitv, NEW YORK, Nov 3 Gold ImportaLine. Salt Lake la not Included tn the ing the process of making sugar from Sergeant Peter A. Peterson will soon tions by the United States from January listing of the rates, but" where this city the raw beets to the finished article relieve Sergeant George Mason as nonac1 to October 30 totaled $593,505,508, comes In is where the maximum rates The management of tha factory acted as commissioned officer In charge of the In allowed In the proposed schedule is lowcording to the federal reserve board. Pocatello recruiting office. eacorta and guides to the visitors. the same period $15,854,90? gold was ex- er than that now In use to Salt Lake, . ported. Idaho ia affected considerably and so Silver Imports from January 1 were also will be the common points of Utah, 37,981,990. $48 608,950 and exports Mr. Reeves. said Tbe Idea is that In More then 5,000,000 in gold has been the proposed schedule tbe rates specified brought by shlpa arriving m the last are the maximum to California points two days. and intermediate points or to the north craat and Intermediate points, as the case SAYS COTTON MAY RISE. may be That means that, if the rate Is B08TON. Nov. 3 AjL result of the lower than the special rate now applycond'tlon of the cottofTcrop, seriously di- ing to bait Lake, the shippers here can minished by the depredations of the boll take advantage of It. If, I op the other not lower, weevil buyer and consumer must not be hand, the proposed rate surprised if cotton prices are higher, R. the old one still applies to this terriB Lowe of Fitchburg, president of the tory is as necessary to pai-n- t 'U lah shippers can consider and comNational Association of Cotton Manufacturers, told the annual convention of that pare the proposed rate to California and winter coat is your roof as those to the north coast, for they organisation tonight. Speaking at a ban- also can of of these y either take a conclusion of marked the advantage that quet stands between you and the to you. Ths session, he asserted that the weevil If lower than thewillone now In use TJ have the advantage 200.000 000 Idaho shippers had destroyed more than weather. worth of the crop and that the question of lower rates to the north coast if these of the raw cotton supply had become are lower than they now enjoy Roof Paints are made to com- The new tariffs have been agreed upon serious all of the transcontinental lines They Repeal, of the Adamson law nnd the bv severe weather conditions. will for be it snd act to publishing prepared modification of the expected that thev will be made efpeimlt abolition of the railroad labor is the of 72 years of conscien-- ; result 1922 fective about January 1, board and the transfer of its functions Mr. Reeves said yesterday that moat to the interstate commerce commission endeavor to produce the best. tious were suggested by J. A. Campbell of of the rates would not affect the rates Ohio, as the first steps to shippers In Salt Lake but he menloungstown, that would be affected necessary to restore normal conditions tioned several They are inexpensive, durable &nd Instances where the transcontinental rate eu the railroads, proposed will give lowei rates to the attractive and suitable for all classes of shippers of Salt Lake are Malt STOCKHOLDERS ORGANIZE, which is shipped from Chicago. roofs whether of shingle, metal The felt. t hirsto Tribune Sslt lake Tribune Leased Wire. present rate on this commodity Is $1 3314 3 A offer a wide range of Colors. YORK. Nov. of NEW group per hundred pounds and the proposed g e ...In d tvJd uaL.sU wJsb&kl- -, rate wil'l tqqty..oL.,lhe. Thepveaent rate-w- n of Califor- hardwood lumber from Michigan to Utah "V trs ef tha 1 nlow Oil company or- - phone - Service Depart- nia have organised for the purpose of common points ts $1.18 and under the of the company falling, proposed Jthedule It will be 85 cents jier privtntlng control into foreign hands. These stockholders, hundred pounds The present rate from ait of whom are residents of California, Pittsburg to Utah common points Is $1 $5 M0RE have circularised stockholders In general, per hundred pounds and the proposed rate POWER and according to preliminary results It Is will be 61.20 per hundred pounds There The are other commodities which will be believed the plan will be adopted proposition calls for the organization of the Union OH Company of Calfornla 40 F--. Second Street South, Salt Lake City, Utah NEW INCORPORATIONS. Stockholding company, which will take over the stock of the Union OU of Caliof were Articles filed with Incorporation 40 East Second South Street, Salt Lake City, Utah fornia and hold it In trust, the shares of the clerk yesterday by the Bell Phones Wat. 2518.2467 tho new holding company to be exchanged Silvercounty Mines company, having a capital y Culco Guarantee on an equal basis with the stock of the stock of 50 000. Stock is divided into existing company. 5 000,00 If any Culco Oil purchased from shares, with a par value of 1 cent. Incprporators are Oscar ltarnes (i. us does not prove SUPERIOR to HIT NEW MARKS G LOW, 1indhlade. A R eny other oil previously used bv Campbell, At. W. George A Smith, Henrv lewis, NEW YORK. Nov, 3. German marks "you (for the purpose intended) AT A. Heath and Victor Kngstrom. EQUAL PRICE, you may return today dropped to .48, a new low reord WThe Coal company filed Anthracite the dnused portion at our expense Thla was a decline of 114 points from and we will refund the entire purthe previous low record made yesterday, amended articles000 reducing ita capital to $750 150,000, by lowerfrom stock chase price. ing the par value of shares from 25 cents RAILS AND INDUSTRIALS. 5 " to cents each. , (As reported by 'J. A Hogle Sr Co ) 73 62; up .$. Twenty industrials, SUCCESS. WOOL AUCTION J Twenty railroads. 72.68; up .05. Nov. Nearly 98 per cent Republic Iron and Steel resumes opera of BOSTON, the woof Offered by the government llcnx at East Chicago plant on a 25 per In an urtkit at the army aupply base in cent basis. LESS V.. South Boston today was sold. Bidding e e e CARBON by wool dealers and mills was keen. VZ CLEARING HOUSE REPORT. Trices on the average advanced 7(4 to 10 SUGARHOUSE LBR. SL HDW. CO.. 1174 Eait 21st South St. 93 2,144,714 Thursdays clearings FRAMPTON PHARMACY, 080 West North Temple per cent The aalea were well distrib. 2,459.953 8$ utee. largely Same day last year. to wool dealers. WATSON. FLYGARE HDW. CO., 2414 Washington Awe Ogden, Utah Carpel to Points Out Importance of Adequate Country $1,- 708 870 fund, 3130,472. Total gold reserves. $2,800,267. tender notes, "silver, etc., 3168,814. Legal Total reserves, 12,946,871. Bills discounted Secured by U. 8, government obligaGold redemption Flavor! Sealed in Tin Cans Again! One-ye- -- time measure the Government requested that we discontinue using the famous sealed tin can in which Barrington Hall Coffee had been packed for so many years. We are now pleased to announce that wh have come hack to the use of these tin cans again. All the original fragrance and mellowness of Barrington Hall Coffee is kept airtight in these tins until it reaches your table. There is no other coffee that offers ypu the same delicate flavor and fineness of granulation as Baker-ize- d t Barrington Hall. Roasted and by the original Baker process, it makes you more cups of truly good coffee to the pound. Packed in one, two, three and five pound cans. AS a war h $?,-4- 0$ & 1 r 1- 1921-2- g. lf 1921-2- 1 . -- one-ha- lf jar -- MrrMtoE Mere Is a Remarkable Chance to Save Money The Baker-i3e- d Specials for Friday and Saturday, Nov. 7 and 8 $1.39 M 3139 twenty-five-ye- Marine ar -- $1.00 3 ftf). Si. all-woo- Explains plication of to the wee M v 93 - Ordered Join Football half-bloo- three-eight- - Sait Lake Theatre 3 Days Commencing Monday, November Matinee Wednesday hs AN EVENT! all-st- ar half-blo- HENRY all-st- ar Let Fuller Paints Keep Your Roof Sound This Winter A COATIt of two-da- south Estate street Jr 30 We Write They or w f r n Culco r W. P. Fuller & Co. Auto Oils and V. J y7 7 ewe Pep . -- n iPA'INISlEORlEVERYlBURROSEi v - HER BLANCHE BATES In The Supreme Suctess of Recent Years THE FAMOUS MRS. FAIR By James Forbes SEATS NOW ON SALE FOR ALL PERFORMANCES Prices: Evgs.; T9c to 3.00j Mat,, 60c to 2 50. Plus Tax. NEXT ATTRACTION Friday, Saturday 12 Nov. Thursday, 10, 11, The Eminent Actor your Fuller bat are 2i i: rfM JOHN E. KELLERD Assisted by a DISTINGUISHED COMPANY SHAKESPEARE Merchant of Venice Thursday Hamlet Friday Julius Caesar Saturday Matinee Saturday Night "Macbeth Prices 2.00 to 60c. Mat 25c to Mali Orders Now 1.00. |