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Show jy i' f THE BESEnET SATUHBAV JUI.V 3 1920 NEWS use of bonds representing Germany's feelobligation to pay tha Indemnity, ing that our capital ran he used to better advantage In direct loans te foreign countries where Industry Is halting an account of tho aood for a larger supply of fluid funds. Iteporta ef 14.404,400 geld te be shipped from ' NEW YORK. (Wll Street) July London to this side ere not confirmed In stocks" this week we till It le believed that the Inflow will Trading bs resumed In ths near future and ttrie emeleet In volume end scope of any i largely reeponeible for ths - strsngth smallest la volume end eeope of any In sterling exchange." but Ihe bond market was retail' Crista la Cattle ladaatry. - Strained vondltlonr hr money have actlta and variably higher oa modermid-yebuying. Inveatmept been forcing tho livestock industry. ateThe turn Into the second naif ef the Int a critical position, Cattlemen end a further witnessed tightening of year writers hankers esy If present condi- credits This wee eeperlally marked tions continue, markets will bs flooded which for commercial In thin winter, followed by sev-er- rosthetorets per cent for allloans, but prim Official Authorization From with meat yaara of scarcity and extremely I th This highest quotation high prlcas, states the Boston News paper In almost euch for accommodation 11 tear Washington la Expected Bureau. A bank president shewed where some While well Informed banking op'n-lo- n of hie customers had been obliged to to the belief that Soon General Review of does out at a lose of 144 a heed of monaystillwillIncline soon become leae stringthe pasgreater significance waa that with cat- ent, It generally recognised that th tures were not Telngrefllled Business Outlook. credit situation as affecting Industrial tle this spring calls for further corrective conditions at Inquiry at Federal Reserve bankcent meaeure Kanaas City developed that 60 perbased Need ef .concerted and effective acof loans of that district are in this respect continue to be The Iw) demand for momr con on bank end this claee of paper ranks tion cattle, stressed by the federal reaerve hoard tlnuea heavy aa ever fin the banka In aa the beet aa well as by private financial liner-eMoat bank loan represent cattle be thla city, particularly from country with country-wid- e connection the from but for finished market, Ing In conservative quarter banka whoae woolgrower cuatomara time a calf le born In Tease until It ther wsa a tendency to conIt figure In further evidence of bava baan soliciting aaalatanca to tlda goes from the feed-lfine te no rediscounts eeeentlal and ere now tham over a period of financial etren-genc- bank loans. Interest rates afford to to concentrate on financing loans for crop cattlemen cannot Tba city banka ara raady to high that Rank In th agriculcarry on bualneaa and money la eo requirements. Iona have recently drawn respond, not only to tha country banka, tight that loans must be pruned down tural sectfrom reserves from-thetheir done at this be heavily can own to This but alao the request at least 110,000.000. to center meet harvest demands. cattle to Individual woolgrowlng cuatomara, aa only by sending Immature V market and putting fewer cattle on aoon aa tbay received aasuranca of end fitting range ; Commercial Summary backing from tha federal reaerve bank. Sheep dealers In livestock exchange Tha resar.o bank in thla city la raady formerly had standing orders from NEW YORK, July 3 Bradatreeta ao to Inform the member banka aa aoon flockmaatere In Texas to buy every fine-woewe that came to the arde tomorrow will aay. , aa Information baa been received from Those ordere are One dealer Woathor condition and holiday feel. cancelled. ban Francisco that It la air right; and showed a letter from a floe km aster in Ing have reinforced other causes makThree for quiet In wholesale and manu. sale. for 1.600 ing who he Texas the bank at San Francisco la ready to in recent week th flock has facturlng lint, but on the other hand salt th have give tba word to the Salt Lake branch, times, time given a slight been sold, and every fillip to retail aa aoon aa it recelvea authority from tailed of consummation because of in- buying of summer good Wholesale a few and lobbing trad Indeed ranges from the money which, tha parent board at Washington. This ability to rales to fair easy. been would while have only retail trad la quiet months ago, ia expected any hour. fully fair. Manufacture and Industry Line. of Oat Belters and are about aa quiet aa at th end of the 't Another local feature la tha disBayers first quarter of end collection trading to make bar eeusent of many dlvldenda during It will take elaable In ere not better-the- n market established an of fair. On tba other eort Inthy weak, which baa run up tha dally any hides and leather, end the largest or hand, th crop situation has mad furreason ther progress th country over and I clearing to a high figure. terests, eaye Dunn, for one to now apparently on a par with the high operate. another, ere not yet disposed bjeneaal Operation Iimut. asare promise of about a year ago monetary conditions Substantial Increases In discount op Prevailing dullof the causes of one the as Weekly bank clearlnga, 64,401.033,-80a rations fnd corresponding additions to signed ness of business, but price considerabuyand tha deposit UabUIUea ara indicated in tion are a more potent factor, tba federal Reserve Board's weekly ers' and sellers' Ideas about quotations bank etatenkent iaeuad aa at close of are out of line, even- after the recent Boston Wool Market With hides bualnaea oa June It, 1110. During the considerable reductions weak tha banka gained 7.1 mllliona in continuing to accumulate, BOSTON, July 22. Th Commercial ?? I gold and 7.7 mfUlona in total cash accept Bulletin tomorrow will say; that they would reserves, while 'federal Reserve note mit but are d elncllned toThere I lees of pessimism In the sir. concessions, ther circulation Increased 1L mllliona Tha. meet the views of prospective purchasraault of these cbkngea la seen In a decline of tha reserve ratio from 44.6 tion Is about 60 per cent, Corn Is also Early f4i Recalled. to 41 per cent. lower. to the beck to Bills secured by Xj, S. war go Blew Celleetieaa, It la necessary the of tions show an Increase, for theobliga week panic years Th,looal hardware trade says th of 44.1 mllliona other discounts on nearly 60 years ego, to find railroad trouble at present Is slow collection hand an incresss of 33,5 mllliona and bonds selling at the Pri no, due to slow monetary realisation conacceptance holdings an Increase of 4.1 observe Spencer Trask A Co., h dition although the volume of busimillion. A decline of 1 1.7 millions in alysls of the situation, eaye ness is the same as on year ago. Aucertificates on hand repre- ton Transcript. At that treasury sents ths amount of special certificates grade Issues were selling to y laid Juri tomobile tires and accessories are beretired by the treasury during the shipped out, as are bloyclea In shade below 7 per cent. '.t! ing The cell for week. These certificates are ield to arepresentative fairly large quantities roads as tha cover advances to the gove&mont nla. New York Central, Union Pacific ?eneral hardware la good, and better new for the Christmas trad. pending the collection of funds from and Southern Pacific are ottering moi Tha local lumber trade has little to Total depositary lnstitutlona practically securities onsecond-graddlaof assets are shown 114 1 million earning e issues as the mill this report week, larger terms, while than the week before. yield are still out, although the operatives are merit may be obtainedIn to The statement for the first timk tinctlve ctriain end not ctnt thus handicapped. Little yards much at t per building shows the reserve percentages for each oases la Railroad in In more. or iuee out of even progress. reported other town, federal Reserve bank. These percen not been sufferers.-A- H owing to the labor controversies. onlyGovernment tages range between a minimum of 11.2 type of the Cement and plaster are moving freebonds per cent for the New York bank and a end ndustrlal have ly. The car shortage in th northwest public utility maximum of 46 I per cent tor the Bos- to bo acutely feU,. so. that It continue abnormally to . Uehnwept tho le hard work to get lumber through to protani At. tha bainnin of Views ef Clews. break In th and following the mate this city. Collections ae,Just fair. Improved bonds 1414, of to has Clews the following Henry w Shipments arrirlag. eay in this weeks trade and finance Juily ini' for a short time there EcoThe local wholesale dry goods trad market with rieing prices. circular; reports local conditions not ao quiet "The scarcity of funds both in the nomic condition and in Eebruary an as In the Immmedtate past, with orders Investment and banking field, continues ed them stive set In, JrK1lc being received from salesmen on the decline to be evident as indicated by high rates other present oay, road, and shipments from th east arwhich during the past week have on ued steadily until through are passing riving, after long and often exasperseveral occasions gone to 11 per cemt when most bonds December. ating delaya Prices are reported as in the case of call money and on one their low of last Weeded. 14 sitstationary. to cent. The Cara investment day per Grata - The local retail dry good trad reuation has hardly Improved as is IntheMinnPOltson ports Director Trlckltt, ofcomrnenUngt conditions In that line bright. e New dicated by placing of tha marTraffic eneoclaXHtn, South Wales . onds in the London Many people are buying in all departrediscount that fact but especially In the way of ket at 6) per cent during the week, li-the - jre rat Reaerve bank Jiina 1 wr ments,welgtit. summer wear, noticeably while our own government obligations light IrOetoW ffrain aid 000, In j$4f0 waist skirt and bathing suits. cent are from far producing ( per being needed there at once t? -ere running well, in In overstrong demand. The Improvecrop. hIZiBOOO Hammocks 11 grain wot ment- at the federal reserve system's or of"buPhole to.last summer. Parasols, too, an '! 000 In are and silk hosiery and ratio at the opening of this week was of in demand, tha years Brain quantity ofatlast a good sign especially as analysis of gloves. Lace collars are good sellers MlnneapoUs and country , the- figure shows that, there has been - and the millinery trad Is good. lotne success In developing thd doi lattj temW.rola conditions Sailed credit control. Nevertheless it transportation Tho movement of grain hOa Increasis admitted that there has been not more than a trifling gain In the sup- ed. particularly of corn from Nebrag-ka- al Iowa land Illinois, there being ply of funds actually available in the market. This, more than anything else, better car supply, although It I ohort Is pas operated as a handicap to Invest- of requirement, In Iowa, where. It in Following are the local quotations ment operations and also has a bad claimed, there la a much grain ' on stocks and bonds: OB month as a elevator reflex effect upon the divided policy country, counAmal. Sugar Co., common . . . . 8 13.75 if corporations and through them upon Farmers are willing to eell, but where AmaL Sugar ( 1st preferred) . . .18?.Q8 ,U pries of their stocks, since Indus- try elevators will not buy except trial managers are discouraged from cars are available, .Cpuptry .whip pie Rene fit tat vLifBrnsurirCe "CO a w krtf repairing I ist.r tbuJ in s. . ijoohvs-Bank of American Fork . . . . they might otherwise do, recognising to move their grain. About 40 pel; Bank of Heber City delivered box by cart that it will be the part of prudence, cent of th ;P.ern Bkg. Co., roads are In bad Rank of Southern Kaysville... is pointed out by Judge Gary in the eastern to western Utah, Cedar iase of the Steel Corporation, to avoid order. Bankers In western state are Columbia Trust , ordere. A rates Machine Rail, Con. Wagon by asking for preferential horrowlng at present high Co..., The way officials oppose these, as they Continental National Bank .. .onservlng their Inown funds. bankers say Deseret Savings bank .. ..... treater stability foreign exchange, hamper operations. Iowa 308.08 including both sterling and eontinen-a- l 6150,000,800 is tied up in grain. Grain Deseret National bank currencies has been partly attribut- and livestock are the most liquid as Davik Co. bank, Farmington.. 335.00 126.00 able to tbs approach of a more def- eets country banks have, and they are Firet "National bank, Ogden., Labor troubles Flrat National bank. Murrey.. 177.08 anxious te realise. late basis for relations with Germany, ut is partly also ascrlbable to the have broken out sfreeh, thought to be First National bank, Brigham 608.00 17.08 Set that American capital is now bo- an effort to hurry the , labor boards Heber J.Grant A Co. .... in foreign decision. 86.00 Inland Crystal Salt Co., pfd.. .. ng qulto freely invested In central havs the Wheat In sasied 10.36 In the Life Intermountain prices wuntries, particularly Co,.,, 188.88 L snptres. Thwmarkeh has not bees southwest and erxport business ' has Karnes Star baik-.,r.,..- I.. f at the Knight Truft A S. bank, Provo , ISO 00 rerjd favorably disposed toward the reached larger proportions 147.00 ilan of the Allied premiere to settle. porta. . Flour buyers are holding off, Layton uga Co. , ........ ower prices are expected, and the mill, McCornlck Af, Co...., erne at least of the foreign lndebted-170.0 83.88 tees owing the United States, by the tag cpalty of, th country. In Mountain State TeL A Tot Co. 278.08 f National Bank thf Republic 141.00 National City bank CO MUler-Caho88.08 Murray .. National Capper bank ........ 148.08 148.08 Nephl National bank 406.08 State Bank Ogden Com. A Sav. bank Provo State Bank of Garfield, Pang. State Bank of Brigham City.. Sugar Banking Co....,,,,..,.. Utah Fire Clay Co. Utah Stato National bank,,,, Utah-ldah- o Sugar Co. v. . . . Utah Mom Fire Utah Power A Light prefet. Utah Savings A Trust Walker Bros Banker Eton Saving Rank A Tr Ca, a! 1 ri ot y. ' a, . 3 ' $8,000,000 elllt erratic and although th market I more than nomera hardly quotation inal, Rom trading In fin Australian has been don but for the most pert th market has been rather dull Reports from Ih weet do not Indicate any market volume of business, J ere reported end Home consignment at unchanged here and ther sale rate In Ih mill m he- curtailment Kurt her The wool trade, dulse le announced nee eo dull during the pari week that The quotation were almostIheunchanged (let sa quoted only variation from week ago follow, the quotations be ing more or lesa- nominal Scoured basisTexas Fin twelve rnontha 1609146. 146 hid fine eight month California Northern 16, middle 166. southern 130136 county Oregon I'aetern No slspe 14j 174; eastern clothing 110, valley No 1. - 1664160. Territory find staple. 170. i tdnod combing 106; 6 blood combine 1009106, fine medium clothing 1469 160 Pulled Iielsln liB. A A 160b 166; Snhera Mohairs lltpllO Rest combing 130 64. beat carding. 4(0 60. SUGAR CO. UTAM-IDAH- O lll j 0. I" -- . ilcl- p, ten-bank- con-tra- at over-statennent ' -- v -- on 2. C M. ' L Benda, First, mortgage 7 - nbrtifea.S't it tfi North-Bec- k shaft. 0 7.75 $500,000 500.000 Drifting. IffSlfP: Walker Brothers Bankers -- . . Member Federal Reserve System ! ! Utah-ldah- Sugar Co. (Special to The News mede a to th f th Union Chief,trip property company In Santaquln canyon. )otniag C. E Allen. Key Beamta and Manager Albert Laraon, In an Inspection of the workThte company ha had ing mtle or for never! years, during which time a few thousand feet of development work has been performed.-an- d now a carbonate or ha been encountered, coming in a vein and haring all the ef permanency. Mr. 36a brisk ie eay that dhe work at tb present time le going en 40 feet- - below th mein tunnel level, where e bunch ef or has been tor ahevt 126 (ret He was favorably impressed1 with the show-ta- g an Jbpworinnlt jr ef and think ther m.o In tho ground of making a good Chmf.-tb 500,000 July, 1927 500,000 500.000 July, 192895.625 500.000 July, 192398.00 , 500.000 500.000 July, 192497.50 July, 192597.00 3,500,000 96. 125 July, 192995.25 July, 193094.875 investment " J. EDWARD L. BURTON CO. 10 KOtTff MU7 STREET - CO. 188 SOITH MAIN STREET HAROLD R. SMOOT & CO, HOTEL IT4H Bl II.DIVO SALT LAKE CITY, UTAH States Smelting, Refining and Mining company which owns tha properly. Th United States mine embraces the old Jordon Had Galena tlalms from which Chief Con. Posts Regular very rich galena or wee mined In th those day of .Bingham It (lulitie-thSecond Quarter Dividend early, maintained the bulk of tre during n production Binghams Directors of th Chief Consolidated large part of the early life of the temp. Mining company have post 4 dividend ot ten centa per share, th regular sec Park City Ore Shipments. quarterly disbursement for th ond quarters operation of th btg TIn-t- lc Park Is total of City mines whipped producer. Th dividend payable July 10. 1,473 tons of or during th week endAugust 3 to stock of record 30 and ing Friday night. Shipments Jn tone The dividend totals 181,423 brings th total dividends paid to date by thin company to a total of 31,713,.' Standard, In wt.lch he haa been interested for some time , . at problem with power drive work steadily and reliably, tion equipment' turned over to leasing operations according to an announcement of D. D. Muir, mlno manager for the United When vacation tomse Care For Yoar.Valuablse jN o,cna .Ck,n.RX.f gone - - .5-- - 7 r certificates, booklets.- or receipts. in fact anything In the print' ing line. books,- .... unit' mechanical that " do' their Wa have that kind of construc- 343 n 143 Plerpont Ave, jrr-- t. tfimfAxr- ram (Special to The New) EUREKA, July 3. Mine Manager 's Mulf of thelfnlied Slate properties, wee in th district during the! week, being accompanied Muir and Andrew, P. Mayby Mr berry, who for many years waa superintendent 'of the4eeap-proprtleMr. Muir ntated that conditions are W. S. McCornick, Pres. , entirely natisfactory at both the Centennial Eureka and th Bullion Beck Anthon H. Lund, Vice-Pre- s. Most of th Work at both propmine erties I ia the hands of lessees. George Albert Smith, Vice-Pre- s. While in the district Ur. Mayberry Fred M. Michelsen, Cashier. ; paid a visit 'to some of the East Tlntic Cashfer. D. Assistant them North Judd, th among properties, rvsLinq Equipment spta&ud pvolH-ettme- tr The CaUrpillar Tractor and "CaterpilkrLaixl Lereler are an ideal outfit for making waste acres u v productive by filling up the iowspot and smoothing the rough stretches. The tractor has ample power for this work, and the; "dependability that insures uninterrupted, trouble-fre-e 'O- service. - The levelep in a sixe for either the 45 or 75 "Cat-- ; erpillar Trector is simple, strong, easy to handle, can't get out of order, does the work just the way you want it done. The two together tractor and lereler wiii level from 15 to 40 acres per day. Two men handle the outfit. - The work is done better and more quickly level- -. than with any other animal or tractor-draw- n ' cotand le far at equipment, ing ; If you have land to level or roada tc build, of want te you custu outfit,. te add a sure money-make- r send for full details of thi outfit. ;- JH e.,werien STOCKTON, CALIF, tea F re neieew, Calif. BaRweBUg. long our intimate knowledge of the people and our thorough understanding of their needs enable ua to serve them efficiently in all . financial matters. well-defin- ed Resources, $14,000,000 tot-lew- MrMRr.k rrornAL RESERVE tVSTEM t. 'CdiecpLUatr THE. HOLT MANUFACTURING COMPANY ' OUR v lalt Lake City. Utah . E .1473 THE DESERET NEWS JOO DETT. Let - ua flrure with you on blapk - H.NtfAOKtE - Mine Manager at Tintic, s. 664 for r i Mining-company- ... ...Pi-!)- 4 Deposit your jewelry, silverware and ' valuable papers In our fire and burglar proof vaults. The cost is a trifle. fol- o house when you have your vacation. : vi various mines were Jugs Mining and Kmeltlng ... Judge Mining and Bmcltlng . ... (rpelter) , Daly (silver" King Coalition-- T, Total from th lows: Eliminate Labor Upper workings of th famous United States mine in Blegham are to be ear-tnar- ke Lo July, 192698,50. houses: H!,,,, eureka July early In the week, 500.000 i Detailed information on this security may be had from the following: Sugar Co, 138. Union Chief Looks to Be Making Good Mine I July, 192199.23 July. 1922 98 .'623 I'rleeu Mortgages. O o o Maturities With more normal money market conditions,, these bonds should command much higher prices t This investment should especially appeal to buyers Of Real Estate O Utah-ldah- Trices Maturities valuables--hr-th- e (Special to The New) EUREKA. July 3. At th North Beck property, Jn the North Tlntio district, drifting operations have been resumed on the 1400 level. Thla work waa stopped early thla spring, when a large flow of surface water got Into tho shaft, but thi difficulty was but a temporary on and baa been entirely cleared up. Th report that tho North Beck had taken over another large tract of land In the North Tlntic section has been denied by Mr. Raddatx, who eaye that there have been no new claims added to his North Tlntic holdings in recent month -- vative Investors at Prices Yielding Approximately Victoria Gold Co. Shaft Reaches 600 Foot Depth U. S. Mine Upper Levels (Special to The ' . To be Worked by Leasers New) I il r -- Bullion Beck Shaft , Now in Fine Condition 3. A depth of 808 EUREKA, feet has beenJuly reached In th shaft pt the Victoria Gold Mining company's property of North Tlntic, which Is being developed by the North Beck company. A few days ago staking was temporarily atepped on aecounv-- ' tW a break In the compressor and It will probably berths sixth of July before things ere moving again although th repairs can be made this week. It is understood that a station will soon be cut In the Victoria Gold Mining company's shaft after which a drift will be sent over to a point directly under the iron whteJtLJAtA th 1 & Ve Offer and Recommend These Bonds to Conser- CHICAGO, July 3 Enlarged receipt together with Ideal conditions toa benefit growing corn have'Mone good deal to tnak prloes of core this week a week with lower. Compered average this morning varied ego. quotation from ) decline lo an advance of 2) Date showed a setback of 2 to 6 In there were loeaes ranging provisions from I. S3 to 4.77. Widespread timely rains which dispelled fear of hot wave damage were corn of special effect In forcing th markt to turn against th bulla. Prior lo th rains, tha fact that receipts had become murh more liberal than of late wa apparently insufficient lo check the continued advance of prices Fear of disaster to th oat crop waa prevalent. end ther wee also talk of possible development of black ruat In spring wheat. Later, however, optimism waa general regardlag all cereals, and It waa said that corn in particular would be favored bv th high temperatures which had followed a generous eupplv of moisture. Unusuallyharp descents In Ih value of provisions followed the monthly warehouse statement of stooks on hand. The Increaea shown waa th heaviest ever known for this part of the season. -- ;sr tv DENOr.llNATIoriS: $500 AND $1000 BONDS Crain and Provisions Alta dub h 3.88 Con. Ry. A Power Co. (city) .84.80 Balt Lake City Refunding .0 Railroad 33.8 Sumpter Valley Utah Light A Power Co. (4) .. U4hSUte Capitol building 4o Utah State Capital building 4)s' t8 88.08 Utah Hotel company Utah-ldah- o Sugar Co., 131.,,.. 80) Utah-ldah- o Co.. 123 Sugar Utah-IdshCo. Sugf 423...,;. it Utah-ldah- o Sugar Co. 124,,..,, i?1 Sugar Co. 128.,;,,. Utah-ldah- o 8 Sugar Co. 12-,,,- ,. Utah-ldah- o Sugar Co, 137...... M lJtah.1 daho S u gar CO. HI 4 ..... . Utah-Idiih- ir - Bated July 1. 1920. Maturing July 1,1921, to July 1, 1930 Inclusive 1 (Special to The New) EUREKA July 3. Supt John Eo-lustates that retlmberlng of tho main' working shaft at tha old Bullion Beck mine haa been carried along in splendid shape and tha work has been entirely completed to a depth of 700 feet From (hat point to the bottom of the aheft It le simply a question of repairs, an it will not ba to remove the shaft sets aa was the case abov and it should net take more consequently than ten day to finlBh the Job. With the completion of this piece of work the Beck shaft will be In fine shape better than it has been In many years. - - Whlle-t- ha shaft work-habeen tinder way no ore has been removed from the mine although most of the leeeeea have kept busy, using the workings of adjoining mines In going to and from their work when the Beck shaft waa entirely out of commiasion. Considerable ore Is now piledup In the underground workings of the Beck and we can expect a much heavier tonnage thaq usual just as soon as the Job of repalring the shaft la completed. Serial Gold Bonds 1 ' is Proud of the Characterof its Customers, and its ability to serve them at all times $: I lr ol , im fau , t PEORIA. ALL, Lee Angi,CKf. 1 17 S.UeAalSb . '4'1 iy ' |