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Show ' THE SALT LAKE TRIBUNE, SUNDAY MORNING, DECEMBER 25, 1921. 19 LI UK ORES I . VALVE" GLOSESJIGHER - Dollar Value of Wholesale Grain Market Generally Business in District In ' Show. Strong Undertone; ' creases in November. Com Price Up for Export o , ' IN-HE- . y- . .;r, 1t AD '5'' i1 The (oliowine report on wholesale trade condition In the twelfth federal reserve district was announced yesterday by John Perrin, federal reaerre scent: The dollar value of November sale, as orted by 194 representative wholesale firms In ten lines of business, shows that sales of automobile tires, dry roods and furniture exceeded those of November, 1920. The seasonal decline durlnc No veraber as compared with October was apparent In all lines. The average net Increases or decreases ( ) in the value each reportinrltnc wre ae follows: Acrlcultural $.! Nov., 1911, . compared with Nov., 19M Oct., 1921; wS 9 Im- 11.1 plements , ,t., Auto supplies .. Auto tires ...... Drugs . Dry goods Furniture Groceries , .... Hardware . -- (d l$ f?I te A , 9r?hcit By CHARLE! D. MICHAEL. Dec. 24. Grain markets CH1CAOO, showed a strong undertone from the start While week-en- d evening-u- p brought about a reduction toward th last, ths close was at net gains of 44fM)4p on wheat 40 9 Ho on corn end 14ffi4c on oats, ant rye was H (9 line higher. December wheat was somewhat congested last week, du to the persistent buying .of that delivery, and selling of May by sash house tod the advancer higher and only Sic under closing the May. Th deferred deliveries of wore wheat up ! tHHc. Development of a good export business In corn, with tho Russian relief bill calling for lO.OoO,-00- 0 bushels, led to an advance of In futures. Oats gained 101990 and rye 31463140. Dsrd was 10134c higher and short ribs 22043140 higher. Sentiment Is becoming more bullish among wheat traders, ana there was Increased support on the dips, while on the bulge resting orders were encoun to red. ,May sold at a new high on the and every present upturn. At eighth up commission houses sold en orders and the outside business resting was not sufficiently large to absorb them, In a reaction toward the close, resulting No moisture was received in the sections of the southwest that needed It the most except In northwest Kansas, which had a little snow. Forecast In dicated generally fair weather. Owing to foreign markets being dosed, export demand was low and no material Increase Is expected until after the holidays. Milling demand Is expected to Increase after the turn of tho year. Re ceipts In all sections ar Hght. Corn prices advanced Into now ground on the present upturn, but as on previous day there was heavy profit-takin- g on tho swells and th bast figures were not maintained. Purchases of flvo cargoes of corn fur Russian relief were announced, but tho grain taken Is Mid to have been at Atlantic and gulf Porte and available for quick shipment Exporters were after grain In th west, but net purchases were not large. Oats rhowed more activity, with rev oral strong commission houses on tho buy Ing side and prices moved up steadily, at fair net gaina. Shipping dedosingwas Inactive. Local receipts wore mand nearly 200,000 bushels for the week .In excess of shipments. Rye averaged ellghtly higher in symExport bids were pathy with outwheat. of Una Receipts at aU somewhat limited. are points 19 9 14.9 14.2 29 9 22.4 t 24 29 9 29 4 24 .... Slices . Stationery . .... agricultural Implements Disregarding ind stationery, the decline In th value of sales la generally less than the estimated decline In wholesale prices, 29 0. th during th past year, indicating that physical volume of goods sold at wholesale was greater In November, 1921, than twelve months ago. Prices continued on th same levels as last month, according to reporting firms, and ware from 10 to 40 per cant lower In all lines than one year ago. Collections were reported exoellent by fair by twelve firms, good by forty-twOn eighty-si- x and poor by twenty-twhundred and six wholesale firms gave the percentage of their collections during November, 1921, to th total amount du from customers (outstanding) on November 1, 1921, and 1920, as follows: (October figures are given for comparative o, o. piemsnta . .. Auto supplies Auto tires Drug .... Buick Prices Four-3- 4 895 935 1365 1295 1395 1395 1585 1885 2075 2165 2375 Five Passenger Touring, Six-4- 4 Three Passenger Roadster, 22-Four-- 36 Three Passenger Coupe, 22-Six-- 45 Five Passenger Touring, 22-Four-- 37 Five Passenger Sedan . . 1920. Groceries Nineteen wholesale grocers reported that prices showsd no change during th month but averaged 21 per cent less than prices In November, 1920, Hsrdwars Th majority of reporting firms In th district stated that there was no change In hardware prices during the month, although five concerns report--e- d a downward tendency In a few lines Present prices' wars reported to average 25 per cent lees than prices In Noveim her, 1920. Shoes All reports received from wholesale shoe firm Indicate that prices during November were unchanged compared with October. Declines from the Novem ber, 1920 prices averaging II per cent were . reported. Stationery Prloes during November were October from" so compared with cording to reports of nln wholesale stationery and paper concerns and downward" according to reports of throe firms. The deoltne In prices during the year was to reported average 21 per cent. CLEARING HOUSE REPORT. NEW YORK, Dee. 24. The actual condition of ths clearing house banks and trust companies for the week shows that they hold 928,312,194 reserve In excess of This Is a decrease legal requirements. of 94,459,710 from lest week. The statement follows: ACTUAL CONDITION. . Doans, discounts, . etc., 94,453,411,000: decrees. 914.259,000. Cash in own vaults, members federal reserve banks, $70,371,000; Increase, $2,- 799.000. Reserve In federal reserve bank 'of member baulks, 1511, 051,000: decrease, 911.470.000. Reserve In own vaults, state bank and trust companies, 99,227,000; Increase, 9271.000. , Reserve In depositaries, stats banks and trust companies, 99,242,000; Increase, 9651.000. Net demand deposits, 92,970,021,000; decrease, 929,584,000. Tim deposits, 9218,294,000; , Increase, 9471,000. Circulation, 933.212,004; Increase, 912,- - 22 U. 8. deposito deducted, Seyen Passenger Touring, 22-Six-- 46 Three Passenger Coupe, Chicago, Milwaukee & St Paul Gains, Its Preri 22-Six-- 48 Four Passenger Coupe . . dent Reporting Confidence 22-Six- By ALEXANDER DANA NOYES. NEW YORK. Doc. 14. Markets on th vs of a double holiday are apt to bo eolorlsso. In Vmount of bualnooo dons, todays markets reflected this seasonable suspension of activities, but the dayl trend of values had, nevertheless, considered sutnltlcanra Ths general recovery on the stock market very likely meant nothing more than tho usual weekend and "evsn)n-up- " of speculative accounts after a week of fairly continuous declines, but ths sudden return of strength to moat of the bond market was a mat ter of larger Interest. Price of Liberty bonds recovered a! moat (4 point, and advances of H to 1 point among foreign government aocurt-tie- s were numerous. In bonds of homo companies, also, there was some Irragu lar gain of half a point or more, tho noteworthy instance being tho sharp recovery of 1 to I points In bonds of thA Chicago, Milwaukee A 6t. Paul railway, whoa continuous decline in the recent txmd markets has pusxlsd Wall street. Today's recovery could hardly have resulted merely from today1 assurance by th companys president regarding Its comfortable financial position. What Mr. Byram said, had been said and published by other officer of the company a weak ago. Whether or not th action of these bonds, in their decline of 9 to 16 points slnoo ths boginning of December, Is explainable on tho Walt street theory of large investment interests selling to establish losses," a recovery was certainly duo by this tims. But ths larger question of interest raiaedeby ths bond markets trend of today was whether th actual arrival of ths usual reinvestment period" may not occasion some revision of values. That remains to be seen. Foreign exchange rate opened at a moderate recovery from Friday's closings. Sterling ended lo higher. On tho whole, tho weolt ended with considerably more of hopefulness In financial markets generally than seemed to be entertained tow days ago. RAILROAD BORD f A. Reported by 9. A Bogle A . . . 47 Five Passenger Sedan . . 22-Six.- 50 Seven Passenger Sedan, AU Pricm, . Q. . rUm. Mich. BUICK MOTOR COMPANY, FLINT, MICHIGAN Ptofsfre of Gresrwf Minn (Wfmglss Pioneer BuUdera of tm a Frimfrel CMm Valvo-iii-Hc- Randall-Dod- d SALT LAKE CITY Motor Guv ad Qualms Eesryqihsru Auto Co., Ltd. Distributor! BOISE, IDAHO When better automobiles are built, Buick will build them TONE OF METAL C to 14 cents, f. a a New York. Recent export has lnoluded sales to tho orient, as well as to Europe, and China has bought a small lot of casting copper at about 18 cents, f. a. s. Load remained steady, with production . and demand about evenly balanced. tions of various minor companies art under discussion. Bankers bollsvs ths turn Into 1911 will be accomplished without serious dls turbancs to domoatlo credits. Thsy are lens hopeful, however, as to foreign exchangee, which, tn their opinion, will be largely influenced by th attitude of ths silled powers toward Germanys January WEEKLY FINANCIAL REVIEW. NEW YORK, Dec. 24. As the year and February reparations payments, draws to a clone surveys of competent authorities regarding ths outlook In fiPEOPLE! GA! DIVIDEND. nance, trad euid commerce ar noteCHICAGO, Doc. 24. Tho Peoples Gas worthy because, with scarcely an excep- oompany of Chicago today announced it tion, they sound s note of optimism. resume payment f dividend JanuThe work of ths arms conference at would 17 with a quarterly payment of ary lu Washington, resumption of dividends by por rent. railroads and Industrial companies re4 cently in arrears, the decrease of unemRAIL! AND INOUETRIAL!. ployment and general enhancement of bond values are some of the substantial (As reported by J. A. Hogle A Company.) or constructive Incidents of tho past few Twenty Industrials 79 tl, up .99. weeks. 73 16, off .17. railroad Twenty These are offset or neutralised tn s This countrys copper surplus will have measure s practically by reduced expenditures, vanished early In 1912, J. park marked Increase of business failures and Channlng, vies president of Miami Copper ths slackening of production InVsteol and company and one of the federated Amor-lea- n Iron with further price reductions. Fully engineering societies, predicta Mr. of the recent mercantile em- Channlng A world copper shortaaye: barrassment occurred In ths south, but threatens In fifteen year unless new last weeks reduction of rediscounts 4y age ere found.' Think copper will deposits tho Atlanta reserve bank was accepted as subtile iuelf at about 19 cents a proof that financial tension In that secpound." tion la gradually relaxing. In ths share list ths most significant ' CLEARING MOUIE REPORT, feature was the feet that stocks were 9 1. 448,117. 41 most active when strong and vary clearings Saturdays whan ths forces of reaction were 8 me day Mat year 8.258,038 15 In control. Dealings In stocks were sub- Weeks clearings 18.458,193.19 ordinated to the steady Inquiry for bonds. Same week Met year 18.987,977.21 Although Liberty Issues and some of the foreign war bonds occasionally were KAROO! CITY PRODVOS. heavy, ths ease with which now underKANSAS CITY, Dee. SO Bgte-M- ia, as. writings were disposed of suggested that payments Shesged. January Interest and dividend new Bat tee Usckesged. chanwere confidently anticipating e Pealtry Bene eed sprints oarkaaged; nels of investment. now. In progress point to week. 50c teday. seated aewlaaUy fee seat Negotiation numerous mergers by secondary Industrial interests tn ths sarly months of ths POTATO!!. new year Acquisition of American Brass 94. Potato by Anaconda Copper Is likely to b folCHIOAOO, Dee, 29 tn ths stool and tan; total Hotted stotoo iklponeou,Receipts lowed by amalgamation J7 car.; motor trades, where conditions are at erket firm: eocked northern wkltee, I1.50G low abb. In tbs oil Industry consolida 2.661 HiaaoeoU Red Rivers, Becked, tl.u. to 1(7 fact Plans tndlonfo construction of a power plant St Auguf Falla on Hnaks river between Bhoobooe Falls and Twin Falla. nlnety-ofg- resent Unsettled tion Attributed 990,489,000. usual Gold, 94.989,200; Increase, 92404. Currency and bank notes, 917,151,100; decrease, 9831.000. BANK LOM 9MOO.OM. Deposits with federal reserve hanks of MONTREAL. Doe. 24 Tho rest acNew York, 981,724,900; decrease, 91,093,-40- 0. count of tho Merchants' Bank of Canada, which recently became involved In fi.Total deposits 9971,191,000; deorsass, nancial difficulties, was Impaired ts the 93,031,300. Total deposits, eliminating amounts extent of about 38.000,604, Sir Montague due from reserve depositaries Sad other Allan, director, declared In a latter call-bi- g a general mooting of shareholder tor banks and trust companies. Raw York February 9 next to oonsider th pro-oand United States: amalgamation tvith the Bank of Deposits, 9028.069.940; decree, 90,734,. dootreal. - Th rest account of the Mer404. bank nominally stood at 99,500,. chants Banks, oash In vault. 329,791,104. 606. Th Bank of Montreal has agreed Trust - companies, oash In vault, to assume 11 ths liabilities of thoMor. Chants bank for the consideration of a cash payment of 31,050,000, together with mamey Made president. a payment of a block of Bank of MonTORONTO, Ont. Doc. 24 Vincent treal stock which would represent on Masssy has been slept 4 president of the share of that stock for every two shares Masasy-Harrcompany, her vesting ma- of th Merchants Bank of Canada chine makers, to succeed th lats Thomas Ths Merchants Bank of Canada Is reD. Findley, and Joseph apsnitpne, vie torted to have had largo sums of money bison of ths led company, has president up In farm loans which - wore not named chairman of th board of directors. Immediately collectible. ed to Un- Holiday Dullness. NEW YORK. Doc. 24. Th stool trad forward as a whole with optimism toward ths new year and is confidently anticipating a general Improvement In Industrial oondltlorfs and In ths volume of business. Just at ths moment, however, the market la experiencing th usual holiday reduction In th demand and Is unsettled. Price have been shaded In some oases, ths most Important being ths reduction of 95 per ton In wire products The pig Iron market has also lowed down, although there la no accumulation of supplies and a bettor business Is anticipated after ths turn of th , yar. In copper there has boon ths usual prelull in domestic ex but demand, holiday port business has continued and th market has boon generally firm. It lo said that some of tn smaller dealers or cue toms smsltsra are willing to tabs orders for small lota of slsctroiytle for January and March shipments at 18)4 cents, dsllv. red, but ths larger producers are offerlevel, and ing nothing below th ths Copper Export association lo Isported to he selling abroad at prices ooulvalant 1 in- i Condi- looking nt one-thi- rd - spa-Ihst- io ' ht 0 0 00 (rf) Argrerate reserve. 1540.121,000. Excess reserve, 122,231,699; decrease, 98,056.710. Summary of stats banks and trust companies la Greater New York, net included In clearing bouse statement: etc., 9643,021,700; -- Six-49 IlFTEil SETBACK OOfl. ls . Four-3- 5 Comment on Prices. Loans, discounts, crease, 92,182,600. , Two Passenger Roadster, Furniture Agricultural Implements The trend of prices during the month was reported steady" by a majority of the reporting wholesalers. Compared with prices In 1920, declines averaging 20 per cent were reported. Automotive Equipment Of twenty-tw- o - reports received from automotive equipment dealers, eleven Indicated that price during the month declined and nine stated that prlees were unchanged. Tires During November Automobile wholesale tire concerns reported pries cuts of 20 to 10 per cent. Present prices are reported to be the lowest In the history An firms reported price of the Industry. declines compared with wholesale prices In 1920, the average decline being 44 cent. Drugs Wholesale prices during th month were steady." Present priest are reported to average It per cent below those of one year ago. Dry Goods Compared with October, prices during November were reported as unchanged. All dealers reported declines, averaging 10 per cent, from November, 1920, prices. Furniture The trend of prioet during November was similar to ths trend In October, when prices were reported steady by most dealers. Present prices are M per cent lower than In November, - Effective January 1st, 1922 Groceries . Hardware Shoes . ... Stationery - - 0 Reclamation of 43,000 Acre in Murtaugh District Purpose of Promoters twin FALLS, Idaho, Dec, plana for reclamation of a tract of about 49.000 acres of land lying abov th Twin Falls cans system between Hanson and Murtaugh and comprising th territory of ths MurUugh Irrigation district, have been submitted for ths approval of W. Q. Swendsen, state reclamation commissioner, according to stats, ment yesterday of directors of ths Irrigation district. Expenditure estimated at 94,995,839 Is Involved In carrying out of ths plans. Financial Interests of Denver, Colo recently entered Into sn agreement with the district director to finance ths undertaking, ths agreement providing tor construction work to begin next spring and be completed within a year. The estimated coat of construction Involve an assessment of 999 96 sgslnet each sere of land to be reclaimed. The coot cover construction of a power plant and transmission Unss as wall as pur. chase and Installation of pumping machinery and building of a canal system. It Is proposed to pump Ureter from Snake river st Milner to an elevation of from FAILED BANK DEFENDANT. SperUl ts Tbs Tribes. TWIN FALLS, Idaho, Dee. 94.. Directors and patrons of tho Dodo State bonk, which suspended operations Isst November, are defendanto in suits filed In Amtoulet court at Burley asking judgment Ths suits Were twed by uting 989,(06. James Attorneys Frank L Stephan and, H. Wise of Twin Falls. Suita Bled by Mr. Stephan are brought In the asm of J. G. Frolick, state bank wsmtanaw, who Is now in charge of oAalra of too Dec to institution. Directors of tho bank. In the suits are relied upon to 9Tre 955.66 oa the charge of having loans. Certain named patrons of too bank are asked to make good Botoo ." collateral paper amounting ts I 9,6-Mr. Wire in there suits, re proeen. too Twin Falls Bank sod Trust rempo' r. Which claims 919.094 duo it from U Dodo bank. ex-ce- RIVE! I! IUCCEMPUL BIDDER. B. 8. Rivet, representing the An'toe London and Paris National bank of I R 4 Francisco, was high bidder OS In the anticipation autre of Skit I county, on which bids were recoir-- 8 ) terday. Tbs noire will bo dated ) 8 next, payable December IL I., Is terret. carry 4 per cent Mr. Rives bid was liW.ll pso ( V net a rats of Interest of e- -t I t 1 i f cent. Other bidders Were U ) 4 1 I Bond and Mortgage eosrea, f 91064.70, and the National ee New York, whk 4 tore U'k l . L 744.629, forth 9 8,6.4 b award of th eommn negi to I . Riven, tho county receives a preo...Li .1 I' t.tt b-- 83:i.5o. UIRR9AP0U8, M.06. - t i rfcCYB. Dee. M. Wear, MthK'A-br- a |