OCR Text |
Show THE' SALT LAKE .TRIBUTE, SUNDAY SlORNINU, Hopes of JEarly Solution of Anthracite . Field Far Be hind Normal Production at Thu Time of Year Nonunion Mines Turn Out t Large Tonnage, Yet Industry Puts Down Brake. Labor Troubles Reflected in Market Activity. NEW YORK. June Influfinancial market! thia week enced to an extraordinary degree by two developments of widely divergent tlgnlfl-canc- e which contributed mainly to the conflicting ' movement! of atocki . and bonds. Investment condition! were again sue talned by the cut In the local federal re 24. Trading In tho x aerve bank rediscount rate, accompanied by assurance! that auch action Implied additional liquidation of frozen credits at centers where grains and cotton form the chief commodities of trade. The sensational performance of Mexican Petroleum, halted only by the Intervention of the stock exchange, provoked much adverse criticism. Its effect upon other speculative shares of the same variety was not very pronounced, but in other quarters of the list unsettlement Standard shares frequently resulted. were not disturbed by the Ilex Pete" episode, as evidenced by the steady rise of rails Reasons for the accumulation of those shares were found In favorable earnlnas, hopes of an early solution of labor difficulties and federal action designed to effect reduction of operating costs Speculation was accelerated In the early days of tho week by a call money rate of 2h per cent, the lowest quotation In almost five years. The later advance to d per cent provided an excuse, if not g the actual reason, for heavy sales. In the more Important branches of Irt dustrv the spring Increase of production was fully maintained. From the middle west came reports that steel and Iron mills were running behind in deliveres and the pace in the motor, textile and leather trades quickened Forecasts of the country's trade bal profit-takin- JUNE-25- ance for the fiscal year soon to end exceeded In volume ailv of the prewar pe These estimates are especially Imtod further decline of portant because of theAside from the adall foreign exchange. mitted tension In Europe's general eco-In nomic situation and latest disorders Ireland and Germany, explanations for this week's more severe reaction were lacking. KSUEOBHeKO. Hand Bags UTAH. MAGNATE VISIT Anson McCall Beard of New Yor. of the late James J. Hill, arrlvod la Salt lake yesterday forenoon and was he prohere .until late last night, when ceeded over the Los Angeles A Salt Luke He is on his railroad to southern fta'.i Mr ion National lark. wav to visit Heard is traveling In a private car and Shurt came to Salt Lake uvtr the Ongon Xr Line. eon-in-la- w .!! Newly Arrived A SHIPMENT OP NEW STYLES DEVELOPED OP FINE PIN SEAL. BROWN CALF, COBRA SEAL, PATENT LEATHER AND MOROCCO. f PASS THROUGH., Railroad Masons' The special train passed through Fait Take vesterdaj en route to the Pacific coast It came In over the Denver A Rio Grande intern Western and depat led over the This Is the annual tour of an Pacific of of emplovees organization composed t railioad lines wlio are the Masons. MASONS Pemi-vlvu- .ri'6 - 1922. , NEW FLAT SHAPES, LARGE AND DROP FLAT EFFECTS, SMALL. WITH OR CORD LEATHER HANDLES. Priced m $3.95 to $12.00 BY HARDEN COLFAX. (Copyright, 1923. by Salt Lake Tribune.) WASHINGTON, June 24, The coal strike, almost forgotten by the public until the bloody outbreaks this week In Illinois and West Virginia brought It forcibly, to mind, .bus resulted during the twelve weeks of lta life in cutting down available stock piles to within 13,000,000 tons of the danger line, according to reports to the geological survey and the department of commerce. These agencies estimate that the Industries of the counprestry can continue operation at their ent rate for about four weeks more and will then have to curtail operations to a basis of four or five days a week, generally because of the approaching coal shortage, now regarded as certain.. The first pinch has been felt already by manufacturers In New Jersey, according to reports to the employment service of the department of labor. In that state, acoordlng to reporta the employere already have been compelled to curtail their operations somewhat because of the fuel scarcity. Dotted Swiss Frocks t 3, 4, S years. A special purchase of dainty crisp Organdies and Swisses, in every color and combination Ruffled conceivable. and hemstitched, - and Many huge . sashes. with ruffled pantalettes Anthracite Behind. Figures of the geolog.cal survey show that sines the beginning of the coal year, April 1, anthracite mines have produced only a few thousand tons of coal. During that period they usually mine, on the average, about 20.000,000 tons, or nearly of the year's requirements. The anthracite mines have only forty weeks in which to mine the customary supply. Going at top capacity, with full working forces and a full ear supply, the geo.ogloal survey one-quart- er figures show they cannot perform the task because of physical Inability.n In the bituminous Industry, mines are working at a rate never before equaled. They are producing between 8,000,000 and 6,000.000 tons a week. Last Wednesday, when a total of 17,000 carloads was exceeded, was the greatest producing day ever nattainedpro-in those fields. This Week's duction, It Is estimated, will approximate I 00,000 tons the highest on record That tonnage compares with a weekly of between 8,000,000 and consumption 8,840,040 tons. The situation In the bituminous IndusIt presents a situaIs remarkable; try tion never paralleled by It before. non-unio- New patterns of fine Sheffield Silver, Roll Trays, Bread Trays, Cheese Plates, non-unio- Cut in Rate Awaited. With the prospect of an almost certain are shortage, industrial coal consumers new delaying their purchases until the1. and freight rates go Into effect, July for other reasons. There are 800. 000 Rons of coai on hand nowarHamplorrRoads, clogging the transportation facilities, the day When rates go down. awaiting will Then it begin to move to New England. In addition, there are 300,000 tons -- more on the way. to Hampton Roads. In Alabama there la so much non union coal on hand that the bottom Is the reported to have dropped out ofcom market. The Interstate commerce Alaorder recent missions permitting bama coal to travel Into the Chicago market at a competitive freight rate with West Virginia coal has brought thousands of tons of coal north, but the Blrmlng ' ham market is still overloaded. The northwest Is reported to hove obtained about 8 000,000 tons by way of the lakes about, the normal movement thus far In the season and New England apparently It holding off for the lower rates, markets there being comparatively quiet. have beset Transportation difficulties f southwest field the and eastern Kentucky this week and about 1000 cars of production have been lost therefrom. The railroads In these sections have been overburdened with traffic recently. This week it became a question of track capacity to contain the coal. Sidings and main lines became jammed with loaded coal care, it is reported here. In excess of the lines' ability to handle them. The situation, however, Is being smoothed out. Extremely active markets are reported In the middle west, with buyers reported eager for good grades, with an Insufficiency of supply. Any Hour of the Day Is oTSweater Occasion 9 A. M. Mayonnaise Bowls. Specially priced, each $goo Recognizing the precedence of this new vogue, we are featuring for Monday New Pure Thread Silk Sweaters , White Silks for Sports Wear Fascinating shades of orchid, jade, blue, pink, green, henna, f sand, brown, red, navy, black and white, in smart Tuxedo models with narrow, or wide silk sashes. i Stock Reduced. Geological survey estimates placed coal stocks at about 3,000,000 tons of bltu minous on April 1. Since that time the stock piles have been reduced at the rate of about 8,800.000 ton a week, the survey estimates, that figure representing the difference between consumption and n production. Allowing for to 18.000,000 tons of xroai In transit April 1, the survey estimates that the etock pile has been reduced to about 31.000.- 000 tons, or by considerably more Minimum of safety than 60 per cent. stocks are placed by the bureau at about 20.000.- 000 tone. While Industrial distress has, been averted thus Oar, officials are somewhat apprehensive for the coming two weeks. They anticipate s general rush of orders after July 1. when freight rates drop 10 per cent. They are prepared to assist consumers In buying coal; in fact, the of commerce Is rendering department euch assistance actively at this time, but is certalia that at the present rates of production, which is nearing the limit, there soon will be an Insufficient supply to go around. Mean time, there Is little prospect for early strike settlement. Business generally shows little change, for the tendency to hesitate beexcept cause of the coal situation. Wers It not for that factor, progress toward greater prosperity would be uninterrupted. AT Sandwich Trays, Baskets, Sugar and Cream Sets, . Vlr-gln- non-unio- n ' MONDAY At New Prices for Monday and Week Priced 00 non-unio- . STRIPE CANTON ana $9K00 , CREPE woven DAMAGE ASKED. Damages of $10,000 are asked In a personal Injury suit filed against the Los Angeles ft Salt Inks Railroad company td the district court by Joe reaxarday machinist's helper. Fsrgis alleges that bs was scalded oft the legs while In the company's roundhouse at 30,000 lgnndyL EXCURSIONS NORTH I Via Union Pacific System, excursion rates to Ids "popular vacation June 17th, and points again In effect, and August, gee every Saturday In July foe "Fishing Ask details.'V agents-fo- r and Hunting Hints" folder. (Adv.) . 54.75 New white" baroxet'satix ... STypENTS TO VISIT CAVE,, A trip to Wonder cave In American Fork canyon will be made by the sum iner school student body of the Univerof. Utah Saturday. The party will sityunder the direction of I rofesoor J. R. be Griffiths of the physical education department of the university. More than 100 students are expected to attend. with intersatin stripe. Begular &...-- SEE WINDOWS 40 inches skirts. wide. Regular Ideal for separate $3.00. Special, per yard New Hats non-uni- Ivory ground erepe, with white satin plaid effect. Veryyls-gan- t wear. summer for Special, per yard Black' Satin with Silver Cloth in Combina-- 1 tion. PLAID AND STRIPE BARONETS Baronet Satin, with block,' Black Canton Crepe with smart vulture h 9 SATIN-FACE- D CANTON In ivory with plaid design. Very dainty and dressy for summer wear. Special, per yard..; 54.53 Priced WHITE IIONAN PONGEE inches wide. A real pongee for practical dresses, skirts, etc. Special, per yard 33 51X3 WHITE AND BLACK FANTASI white ground," with interwoven eheck, plaid and stripe effects of black. Begular $6.00. Specail, per yard$jrfsh h Priced, per pair $5.95 All-whi- JJ TfE plaid and stripe designs. Begular 3.50 and $6.00. Special, per yard V trimmings. A most comprehensive showing of newest developments in Millinery Centers. j Tangier Curtains Lovely new patterns in ecru with trimmings of colored edging, 2 y2 yards in length. SATIN PLAID CREPE RIIOMA 40 inches wide. $8.50 KiilkiO BdSSXu. Tangier Paneling These new panels of cur taining are 7 inches and 9 inches wide. Ecru color. Two and yards long. The bottom of the curtains are trimmed with fringe. ore-hal- f- . Priced $100 and $123 ' . each panel |