OCR Text |
Show 17 THE SALT LAKE TRIBUNE, SUNDAY MORNING,. AUGUST 13, 1922. RAIL SHARES SHOW SLIGHT DECLINE' UNDER PRESSURE 'Sentiment Bearish With a Lack of Speculative Interest; Prices Decrease. Strength of Industrials Continues, Some Favorites Advancing to New High; Volume of Trading Light at Half Holiday Session. . It KtW YORK Railroad NEW YORK. Aug. have been strong most of shares, jrhk-the week, were subjected to some selling session pressure In today's of the stock market, closing at losses of small fractions to 1H points. Industrial Issues, however, were strong. International Harvester. Rume'y preferred, American Radiator and pushing through to newYiigh records for 1932 on gams of H to 3H points. belling of rails was attributed partly to pro and partly to speculative pressure arising from the Indefinite status of the rail atrlke situation and the lack of effective buying power, due to the absence from the floor of many of the largest trader. Chicago & Northwestern suffered the greatest depression, closing 1H points below Fridays close, with losses of a point or mors also being shown by Atchison preferred, 8L Paul and Great A few rail like Northern preferred. Chicago & Alton, Chicago Great Western second Colorado Erie Southern, preferred, preferred, Lake Erie A Western, New York Central and Norfolk & Western advanced fractionally on light dealings Steel stocks were one of the features of ths Industrial group, both classes of Bethlehem and Lackawanna rising more than 1H points on announcement of an early completion of their merger. United States Steel common. Republic. Gulf States Steed and Midvale also bettered their positions. Columbia Gas and North American, each at new top prices, featured the transactions In public utilities, several of which were In fairly good demand. The day's sales totaled 275,000 shares. Further Improvement in French francs and German marks wakO the feature of the foreign exchange mArket, reflecting the more favorable news from the meeting of allied premiers in London, Local brisk for Saturday. trading wae fairly The clearing house statement showed more than $52,000,000 in a decrease of actual loans, discounts and investments, as compared with an increase of $8,000.-00- 0 last week. The reserve of member banks with the federal reserve bank was decreased by $7,114,000, as against an In. crease of $9,258,000 a week ago. i Cash holdings were decreased bv $819,000, leaving the excess reserve at $501,001,020. h STOCK UST. half-holid- Gioxsu JQ&riteLt, By CHARLES O. MICHAELS. Chisago Tribune Silt Lit, Trtbaue Lekeed Win. CHICAGO. Ault. 12. Lack of aggressive Wort, rather than any material pres-'- r. waa responsible for a break In all grains to new low figures for the season today. Scattered liquidation was in evidence at times as tired longs let go, but tn the main the break was due to ths J.nrkets sinking under their own weight, wheat closed with net losses of He to le, while corn was off to oats $ Wnd rye unchanged to He lower. lard finished- - with a loss of Mi short ribs 12 He. Gram values were on ths down grads the greater part of the week. Numerous top-loorders were uncovered. The general run of news was of a depressing character. With a lack of speculative Interest and hedging pressure, sentiment became decidedly bearish. - At the last wheat showed 2 $3 cents under ths finish of the previous week. Corn was eff JHWJH cents, oats cents and cents. Cancellation of export eye 2&2 orders snd the break in hogs affected provisions and lard closed with a loss of liJf'22Vi cents and short ribs 15 cents. September wheat went to a premium over the December, due to apprehension on the part of shorts as ths result of a spreading of the rail strike. Lack of motive power la curtailing the movement In all sections of the country. iKxport business was not large and premiums on spot hers little changed. Rally which 1. ; 57c , ss 2t2 came toward the close was due mainly to week-en- d evening up on the part of shorts. Sentiment da -- the wlibli remains bearish. Corn and Oats showed an easy undertone, and, while September corn acted Independent of the new crop deliveries due to persistent short covering on the gall strike, it had little effect on general sentiment. Latter remains bearish, with a lack of speculative support an outstanding feature. Country offerings to arrive are light, as Interior shippers are having a hard time in filling the contracts they .already have on hand. Rye dull and easier with wheat. Houses with seaboard connections were moderate buyers at times, while the northwest sold. No. 2 on track brought 2 cents over July. CLEARING BANKS. NBW YORK, Aug. 12. The actual condition. of the clearing house banks and trust companies for the week shows' that they hold 150,001,020 .i excess of legal This is a decrease of requirements. from last week. The statement follows: ACTUAL CONDITION. Loans, discounts, etc., $1,599,332,000; decrease, $52,205, 000. Cash hi own vaults, members of federal reserve bank, $55,509,000; decrease, $078,000. Reserve In federal reserve bank of member banks, $555,903,000; decrease, 000. Reserve In own vaults, state banka and trust companies, $7,117,000; increase, $35.- OO Reserve In depositaries, state banks and trust companies, $9,141,000; decrease, 280,000. Net demand deposits, $3,886,721,000: S&irs-Roebu- ck STEADY INCOME r . Speculation by professionals may yield big returns but usually it means heavy losses to the average investor. a It is significant that no great American fortune has been built and retained through speculation. -- . , Investment means steady, sure, dependable, safe income, which is assured throughout a long period of years. Total sales .of bonds today were $6,521,000. compared with $12,800,000 previous day and $3,382,000 a year age. The wise investor must judge the future from a full and complete consideration of the facts. NEW YORK CURB MARKET. NEW YORK, Aug. 12. Transact! oaa on tha New York t urb Market today were as follows; INDUSTRIALS. i -- It js one of the distinctly .valuable services of the Central Trust Cotnpany to analyze and judge conditions accurately before recommending'' investments for our clients. t Since we first purchase the investment securities with our own funds, we are very intimately concerned with the safety of these securities. I 1S0,-B- sr $7.-I- ll, V Ik decrease, $53,991,000. Time deposits, $505,824,000; Increase, 17,574,000. Circulation, $33,775,000; decrease, $70,-0- 0. U. S. deposits deducted, $61,252,000. Aggregate reserve, $672,191,000. Excess reserve, $50,001,020; decrease, 819,990. Summary of state banks and trust companies in Greater New York, not included in clearing house statement: Loans, discounts, etc., $758,156,700; $8,903,100. Gold, $5,675,100; Increase, $67,600. Currency and bank notes, $18,166,560 Net deposits with fedSFal reserve banks York, $64,404,300; decrease, $138.-10Total deposits, $795,009,400; Increase, of New 0. 5,823.300. Total deposits, eliminating amounts due from reserve depositaries and other banks and trust companies .in New York, 743,698,700; increase. $1,181,400. Ranks, cash in vault, $26,834,700. Trust companies, cash in vault, 0. CURB MARKET, NEW YORK, Aug. 12. The curb trade this week was marked by Irregular and conflicting movements, induced probably by the troubled Industrial situation and ths concurrent firmer markets in soms bssle commodities. Changes were confined to technical positions though In the motor group etuts an Jteo advanoed n newly announced corripiny policy. The interest of Charles M. Schwab m Stuts strengthened the market for that Issue, and reopened following a 100, per J cent stock dividend on Thursday In the oil group most interest wss attached- to Standard of Ifjdlana. because of its- advance to 110. Cities Service dropped 5 cents, to 176, but recovered this loss later. Ryan Consolidated was active and strong following the announcement of the transfer of control, and rose om 4 to New England Fuel moved up to a new high of 62. Maracaibo 2$ to 20. In the mining fluctuated from group most Interest was attached to Coldfield Development, which moved up to 20 on .heavy buying. 7. Nil Sale New low figures CHICAGO. Aug. fdr the season were made In all grains todRy. September wheat and corn were inclined to be a little tight and both widened their premiums over December. At the finish wheat was down e to and to $1.04 with September at $1.04 December at $1.031 03. Com addeand c for September vanced on late months. Oats c to clined were He to c lower, and provisions were 5c to 30c off. Wheat rallied a little from the low point Just beifore the clone, but resting spot were lower. September shorts evidently are beginning to reoognlxe the possibilities of a prolonged rail strike, and delivthere was covering in the near-b- y ery cf both wheat and corn, these deliveries being relatlvelw strong compared with the remainder of the list. Selling of September wheat at a premium over the December waa attributed to cash interests. In the main, " the strength was regarded as reflecting ths Increased scarcity of cars and motive power, especially the latter, reports from irheat belt shippers showing no improvement and none expected for some time. Further embargo notices have been issued by western roads, especially those w. .lin ftt illU Nttrlhft tn RIIvClOQ Dy S jfvuJlft the big four- brotherhoods. Export demand for wheat continued slow, but traders heard that there is more business under way than has been reported from day to day. General sentiment in coarse grains remains bearish, although there i a disposition to keep away from, the-sh-ort side on tho breaks. The decline today was due more to lack of support than to any aggressive selling. Provisions were easier In sympathy with pains and on- scattered selling, the trade being light. RANOK OF THH LEADING FUTURE. 12. lc, le Opes. x WHEAT Low. High. ... Hey ... OAT- Sept ... pee, ... Miy ... 8ept ... I.ARD Oef ftltimfte. 00..00e; No. 2 ( 25 10 f RUTTER.. MARKET. Ang. 12. White trsdiag in tha butter market. was not active today, there were no signs of easiness on the market. Dealers were bolding firmly, with most of them eon tent to wait till next week before making further sales, floe butter was arsrra and the stock of lower scores was not exeeurivs. Tbs car market was quiet, but alse steady to firm, An occasional ear. said to be 68 score waa reported at 29 cents, Edward L. Burton $66. Bonds bought fend sold current market prices. U. S. Liberty it 10 15. fttcaipta. 500 market steady; eora- - MINNEAPOLIS. Ang. 12. Wheat f 10461.81; September, December. $1.06; May. $1 104 65 No. 8 ft 56c, 1 norther, $1 Corn, yellow, Oats, Ne. 8 white, 26 4 Burley. 4151e. Rye, Fin No. 2. 1 37 to. 7t4e. I2a44$2.i3tt. Cash Na. $1.08 i We Specialize in All COTTON MARKET. NEW YORK, Aug. 12 Cot tow fuAorew opened 21.18c; December, 21 Nte; steady; October, January, 81 04c; March, 31 09c; May 21 Ode. Cottow tenures closed barely steady; Octobea, 20 8oc; December, 20 Tltef 20.62c; Jaauary, March,20.88c; May, 30.57a. 8pot enttm guist; middling, 2LQ5C. " Lamba 50075c lower; r W iower; feudal L R. STEEL STOCKS 25.00 Steel Stores pfd 19.00 Steel Stores com. 35.00 Steel Realty pfJ. 17.50 Htdel Realty com 110.00 10 Steel Stores units 105.00 10 Steel Realty' unite We give bank guarantee to hare certificate Issued in your name and registered on companys books. Send money through your bank to First National Bank, Denver, to be paid to us when certificate is turned over to bank for delivery to you. We can sell Steel Stocks half as cheap as any Steel agent. We do not want to hog all the commis- ......... 5,000 5,000 Comrass ........14.25 10.00 Big Three Panuco ...... ..26.00 Mike Henry .... .03 Texiana . ..... 7.50 Preston 9.50 ....... M. M, per M, per per per M. per M. five and fen monthly pav-meplan is liberal and gives anv-on- e a chance to buy stocks. No interest charged. All certificates issued in customers same without extra chargu. Our .00 .11.00 1.50 a.oo 2.50 77 ASSAYKRS AND CHEMIST SO Vaar in Sama Lacatlon. So. Wert Tmpl, Salt Laka City. , Riir six on Indian Capital Petroleum Chappell Oil Crescent Eagle Edmonds , Ember . Bier , .. .... .... ........... Fargo , Fern ham Dome Pet. ... Gustaveson Invader Oil Okie Invader Oil Corp. Kinney Coastal McGerry Hedge Paradise Oil ... Out Wert Owenwood .uu: Preston Utah Calf 'OU ProductaOffer ...... ..... -- 8. OiK Asphalt Col of Utah Virgin Dome Oil Western Oil 'Field U. .. .0$ .... Western Empire Pet. . Wjrute Oil Y Oil A Gae 7 MINING American Leasing .... Rellerophon . Bristol Sliver Combined Metal Eureka Metallurgical .. GlenaUen Mining ........... ......... ......... ..... ............ .......... Jib Louise Mining Little May Nacozarl Copper ........ ............ Selma Mines ';v.V....- Snhlnx M ..'.... Silver Reef South HeclA Pope Shenon ........... Tlntie Davis .. Valdasla Vlpont Silver .. Wasatch Mines Baker Steam Motor Beetsrrowers Sugar Offer Bargain Baldwin Radio Dearing Heat System. .Offer Bargain t De Giorgio Edward-Warde- Fruit Unite. HIRSH & COMPANY Established 1916 Cooper Bldg. . Denver, Ask Your Banker About U Colo. 9.00 0.00 Motor n Parts .. John T. Clark Tire ... flunnteon Valley Sugar. Gen. Red. Chem... & Little Cot. Transp., pfd, Mfg. Co. Mutual Coal We buy, sell, quote all Wyoming and Texas issues. CAN I SHIP IT? . Boeton-Wyoml- Mab 10.000 20.000 30.000 5.000 Qoltf .. Gold and llvr and laad Gold, llvr d llwr-nGold, eoppr... Gold, llvr, lead and coppar ff Park-Nels- We offer subject: 50 60 40 50 OIL Anderson Brow Arliona-Wyomln- Con, Hesperus M. We offer subject: 169 , WE HAVE CLIENTS WHO WILL TRADE AS FOLLOWS 't Subject to Market Change end Price Globe sion. CHICAGO, o Phone: Was. WHOLESALE DAIRY PRODUCE. (Quetetloos by Mutual Cretmery tomp.ny.) rrfr.ii txtr ctnaiff butter in 68-$ .37 pound rsbes Freeh tints ere.mery butter is esrtons .38 Freeh flret cresmery butter, parchment .87 prints Fresh flret eersmery butter is esrtons .83 Fresh firsts creamery butter, parchment ,. ,. .88 prints ,,,. Cool in butter is rubes .80 j ell white fresh eggs .83 Selected ,8S Reach eft .33 Pull cream cheese, triplets Full erssn, cheese.' Young Amertens .... .Sit Full cream cheese, ,24 squares..,. Block-Hwlecheese :! Cream brick cheese 18; Can supply Utah-IdahSug7 bonds and Amalgamatbond on very ed Sugar 7 favorable interest yield. Main SL CHI0AOO. Ang 12. (UBited fitatea Burean of Agricultural Economics. I Cattle Receipts. 1000; compared with week ego. beef eteere, 10c to 85c lower; better grades declining least; she eteck uneven, steady to 60s lower; low grade beef wows, canners and cutter off meet; beet kosher sows about steady; bulta moat If 25c lower; veal calves largely 75c hlaher; etockere end feeders steady to strung; weeks top. beef eteere, $10.76; week's hoik prices, beef eteere. 75011423; butcher she stock, $3 100725; canners end cutters, $3.7508.73: bnlosna bulla, 8S.8504.1S: veal calve, $10.25010.73; stock-er- a end feeders, $3 63 06.65. encrn11v ateedv; closHut- - Recelpta. 6000; ing dull; lop. ,1A25; bulk of 180 to butch223 to 816 16; 60010 weights. butchers ers. $8.2309 60; $90 to sow $7 80 a, of 250 00; bulk packing mostly 8,00; desirable pise. $9 75010.00; holdover $4 2509 60; medium, $0 10 beery, 10!0;1l(rht. $9 76010 25; light lltlit. $0 600 10.25; paektef sow, smooth. 7.854,8 25; park-tnMwa roul 7.007.50; killing pigs, $9.25 i ar a. $12.50 CHICAGO, steady; Great Britain, demand, 446; rabies, bills bank, 444; Franca, 446; demand, 819; rabies, 820; Italy, demand 469; rabiss, demand, T75; Belgium, 462; cables, 776; , Germany demand 13: cables, Hqjlsnd, demand. 380; cables, 8885; Norway. demand, 1722: Swede, demand. 2620; Denmark, demand, 2190; Ssrttaerlaad demand, 1004; Spain, demand, 1554; Greece, demand de80&; Poland, demand, .01; raecho-Sloraklmand, 354: Argentine, demand. ftfluft; Brasil demand, 1350; Montreal, 96 13 18. o, arrive to packers; 1500; steady to strong with yesterday's average; packer top, $9.85; shipper took one toad at ti) 40; 1M to 210poundera $0.25 9 85 ; 210 to 240 pounders, $0 00i9 15; $250 to $8 854(8 90; top, $9.40; bulk of sales, $8J5$ 9.25; packing sows mostly $7.25. Sheep Receipts. 1500; for week sheep 15c to 20c Urner; lamb 60e to 75c tower: tem OMAHA. MONET AND EXCHANOE. NEW YORK Ana. 12. Foreign txchanga, v . 11 (United State Neb.. Aug OMAHA, Bureau of Agricultural Economic.) Hog Remarket 8000; fairly active, mostly 10c" ceipts, average; bulk mixed and higher 'than yesterday packing grades, $7.8008 60; bulk butcher hogs, $8 50ft9 $5: extreme top for sorted lights $9 80, Cattle Recelpta, ,850. Compared with week beef steers steady: ethers ago, choice grade mostly 23 ft 40c lower: better grade she stock $7,00000. 08 00; reel eelvee. oee. 178 stronger; others fatly 26c spots Choice hoge, fully steady; fit Ilnvt Receipts, dower; veals generally to 350 the., $ 80; hulk of nle. .$9 0009.50; tower; bulla mostly 25c feeders stockers and 00. strong to 25c steady; feeder hors, $7 5009 phecpReceipte, non. Choice lemha, $10 00 higher. Receipts, non. Market cum pa red fat ewes, $4,000 Sheep 0)0.50; wether. ,15.000025; 6.00; feeder lambs, $8.00010.00. ............. o lower. OGDEN. An. 12 Cttle Receipt, 26. Choice heavy steers. 86.00A6 50; road ateera. $6.0066.00; f,lr ateera, $4 00 5 00; tbotce and feeder eteere, $4 0016 00; choice cows food cow and heifer, 5 oO6 3; fair to $2.0003.00: cotters, 00; 0005 $4 heifer. $1.0003.00; choice feeder cows, $3 000 4 00; ,fat hnlle, $8.6003 33; bologna bulta. $2.00 I. STOCKS. XAN9AB CITT. KAN A CITE. 12. (United Jlo Aug. State Bureau of Agricultural Economic. Cattle Reeel (da. 1200; for week, better grade beef ateera weak to lftc lower; top, $10.46; othersmoatly 25050c lower; better grade site took steady to 25c lower; bulk other 60r lower; better grade she stock steady to 25c bulk 60c canner others and bulls lower; lower; average fully 25c lower; calve steady to 69c Uvea O0DEN. Special to The Tribun , INTESTMEtfT BECUEITIEg. (At Reported by 3. A.' Ilogle ft o ) BANK 00ft00; fat wether, $4.04t5.00; fat we, $3. 0014.00. ye!-to- Miller-Caboo- 160 So. 5 ,r: eedyT,r "r f NORTH HALT LAKE, An. er. market steady. 112; food ateere. $5. 00 36.2.1; 312ST.OO; keifere. eel eea cholse 00 13. 50; ateera. 85 5 850f7.5O; fetr to food $1.60 rioner, OttUe. $4.000,5.00; cutter., 82.0003.23; boloane 02.00; fat- Mills. 82.50et3.00; $7.50oS.50. veet celTee, $2.0033,00- Mh tt.aor-Choicmarket Hos Receipt. Bone; 225 Ihe., prime top fet hoire. 175 to $0 50; bulk of eelse, $0 Otxpil.40; faeders, $8.60 $9 00,10 00. HU. Ml dri.e-lna- , steady. Choice Sheep Receipts, PI 9; marketchoice yeerllnxe, fet lambs, $9,T3 10.75;, No, 3 white, Rye Timothy seed. 34.26416 ftO, Clover seed, 912.0016.00. Perk, nominal. Parley. 50i67c. Jjird, $10 30. Riba, 10.75610.75. SILT UKE CetUe Prime 74. No. Hi paretf wtUi week ago, fat lambs mostly 23e to 40e lower; natives 'declining most; , strictly choice fat laaiba comparatively scarce; bulk of western in feeder Irak; work extreme top on western $12.85; native, J2.fift; week's balk rices western lamps $12 9G&12.40; native, and fat sheep, 11.9012.23; feeder lamb atesdy; brtlk of feeders $12 35412.40; fat ewes fed $3 5O47.0O; &2 pound western yearling, $11.00; good feeding yevllngt $9.259.50. 12 I common .... $.20 Amalgamated, com , $.12 2.25 Peoples Sugar, pfd. Consolidated Wagon (0.00 n 61.00 National Copper Bank... 150.00 Utah Power Light, pfd. 96,00 American Tel. ft Tel. Co. 122.00 Utah-Idah- JTIW YORK LISTED STOCK. 10.86 Corn No. 2 mixed, 634 024. Oats No. $ whit, Seal Estate MUNICIPAL. CASH QUOTATIONS. Ne. 3 red, $1,082 Now 3 hard, $1.03 Wheat 61.00. Mortgage Insurance 4t4s ...10.77 WILL SELL 200 600 100 20 10 100.46 100.42(100.46 118 101.84 101. 24 1101.24 104!l00.64)100. 52(100. 52 122 100 . 56 100 . 62 100.56 do 8rd do 4th 82. j 101 . 28 101 . 24 101 . 24 (vncld). 167 100.861 100. 8OI100. 84 Victory 2T0( HK. 56) 100-4jlQO. 50 do (called) STATE AND FOKKIuN GOVERNMENT, .... .... 44s .... .... 4s BONDS. UNLISTED FOREIGN GOVERNMENT (As Reported by 2. A. Hogte A Co.) WILL BUY AT TOP PRICES Bonds 6.000 Utah Hotel Bonds 10,000 Utah Light Power Bond 6.000 Virtue Clift bldg. Bond Trturta do 2nd 4a e.,0 be do 1st 44 do 2nd 44a ... ... .... o, Utah-Idah- Svlngs RIBS Sept Oeb Main at First South Salt Lake City, Utah Wasatch 455 XnYMtmonti 1.04 1.06 Her is operated ns Close. CORN Kept Dee. . . . Utah Idaho, common ....$$.07 .... 7.50 pfd, $00 Amalgamated Sugar, eom 1.65 50 Amalgamated Sugar, i Pfd. (Offer) 20 Z, C. M. I. 114. 00 6 Horn Fire Ins. $22.00 5 Beneficial Life Ins. .... 135.00 10 Ziont Savings Bank .... 208.00 10 Deeeret Savings Rank.., $01.00 10 Deseret National Bank .. 270.00 20 Utah State Natl Bank-- . (Offer) 20 Cement Securities 112.00 $10,000 Through which $1M Kept Deo -- Utah-Idah- tors srxrw bonds. NEW YORK Aug. 12. Eollowing are today's tow and high, closing prices of bonds os the New York stock exchange, and tha total sales of each bond. (Rales in $1000): UNITED STATES BONDS. 8la. High. Low. C . Liberty 84a 19j 100.001100.90 H0. 00 - WILL BUY 600 200 in hundred a. Mutual Creamery Pan Motor Steel L. R.) tnits. Steel (L, R.) Store. pfd Steel (L. R.) com. . Offer 8.09 6.25 Store. Steel Realty, pfd. .. Steel Realty, pfd. .. Steel Realty Unit . Steelcraft Unit .... Silver lie product IT. 8. Fuel 8.00 o Sugar Utah Natural Product. Offer Utah Imp. A Vehicle... .Offer Utah Bteel. pfd. .. Victor Motor & .... Utah-Idah- dutch Co. ...c., C. M. L Stocks sold en margin, . monthly payments and buyer and seller sixty dav. In anv handle stock Can any market not quoted write u- ff your stock for quotations. 1 C. S. GODDARD, Salt Lake City. Lobby Atlas Bldg, Phone Wat. 2253. |