Newspaper Page Text
Deferring repeal of excess profits tax delays revival, says sisson
BUSINESS HOPES
:;FOR BETTER TAX
.. BILL IN SENATE
t
Retention of Certain Features
Will Retard
a Revival.
CHANGES EXPECTED
Present Form "Somewhat
Constructive." Declares
^ F. H. Sisson.
By KBAXC1S H. WISSOV
(Vice Presitknt Guaranty Trust,,
Company of New York )
XEW YOnK. Sept. 7?The new
revenue bill which, according to estimates.
will reduce revenue collections
to about I3.300.00O.000 for the
current Itecjil year, and to J2.77*,A70.000
in 1923, when the new rates
will be fully reflected in revenue
receipts, repeals the excess profits
tax. increases the corporation in>
omo tax rate, repeals many of the
so-called "nuisance taxes." the
transportation taxes, except those
imposed on telegraph and telephone
messages, and effects a number of
other Important changes.
Th* most MRniflr-ant feature of
these changes is the repeal of the
excess profits tax and the reduction
of the surtaxes. Business interests
have looked forward to the elimination
of these taxes, but the postponement
of the effective date to
January 1. 1?22. meets with general
dissatisfaction in Industries which
have confidently expected this relief
during the current year. The continuance
of thes^ taxes will undoubtedly
have a tendency to defer
business revival. It is. however.
till possible that the action of the
House may be reversed by the Senate
and the repeal made effective as
of the beginning of the calendar
y ear #
Provides >ome flellef.
Notwithstanding the fact that the
bill in its present form does not
materially reduce the current year's
tax burden, many of its provisions
are such that the bill in some re spects
may be characterized as a
constructive measure and an improvement
on the present law. A
much-needed provision has l.een included
in the bill, whereby it is possible
for th.- taxpayer., with the
agreement of the commissioner, to
have a final determination of his
tax liability which cannot thereafter
be subject to re-opening except
for fraud. Another important
proposed chang- in the bill is the
inclusion of the net loss provision,
which permits losses of one year to
i>? offset by the profits of next succeeding
year or the second succeeding
year, if the income of the
year following the loss is not sufficient.
The new- provision in the bill for
the benefit of Americans engaged
ic hunness In foreign countries
should be of -natcrial Assistance in
enabling our industries to participate
in world trade. I'nder the
present law citizens of the I'nited
States and domestic corporations
nre taxed on their entire net in(ome.
from whatever source derived.
The new bill taxes American business
concerns, SO ver cent or more
of whose income was derived from
sources without the Tnited State*,
only such part of their income as
Is derived from sources within the
T'nited States.
Sfcntvs Modern PolicyThe
incorporation of such a provision
In the proposed law gives
evidence of an enlightened policy on
the part of the Federal government
Toward foreign trade. Other nations,
especially Great Britain, have long
made the practice of extending
special privileges, in regard to taxation
to their business enterprises
operating abroad, and it is imperative
that this country adopt similar
policies If we expect our industries
te meet foreign competition.
I ! The bill contains a number of
?ther administrative provisions
which modify the present law. Many
f these provision* meet with general
approval, while some are more
bfc* less objectionable. As the bill
how goes to the Senate for consideration
It Is not unlikely that it
Kill undergo changes before it
nally becomes a law.
;; COFFEE MARKET.
I I
| NEW YORK. Sept. 7?Coffee
prices continued to move upward todAy.
being 4a8 points higher at the
opening and later showing net gains
aaused a reaction of 7al2 points carly
m the afternoon.
[ Continued buying of December by
trade Interests was again the principal
feature. That delvery led the
advance after the call. It turns out
tliat the buying of 10.000 December
K^ateray through Wall Street and cot>nn
exchange houses was on orders
a lerd'-T 1 ""1 i^1'1 "* " *
ft* "new outside" long aocount u
4uinc had supposed. i .. * -.-<>.? -- j
\ ing of December is stimulated by continued
activity in the* spot market
i?nd the growing strength in primary
rtprkets, whlclwwfe already above ?
Ijarity with prices current here, heret?y
making it practically Impossble to
itmkc purchavs there for the purpose
(if replenishing our decrensng stocks
,,n the eve of the prospective heavy
ftoll demand.
J The Santoe n.arket. whieli advanced
125a2?0 reis late yesterday
a)oscd at further gains of SOalOO
fiii. Rio was unchanged to "5 rets
itgher, exchange on T.ondon 1 -3-d
ther at 8 9-32d. and the dollar rate
relit higher.
9 Early private cables offered Santta
3s 4s part bourbon, at ll.SOalSc
Jgaln.-t 11.00all.?#c yesterday: while
Srt bourbon 4* were here at 11.25a.
EVsc. or about unchanged.
j^T-rt'ing in spot coffee contnues fairly
spiritedd and prices are firmer. Rio
it be .tig quoted at 7Ka7?ir. Victorias
.St 1 Ha7%c. and Santos 4s at 10?ia
JtVic. Close observers assert that
!?*" market is going . up because of
I igtttniate trad* conditions, there bei
ig little outside speculative support,
't w lattr fact being demonstrated by
I ac comparative Inactivity of the dist
*it deliveries.
* High Law Clo**
Va Lt 7
C. 7,?5 l.rm
krrh T.t7 7.K 7 *7*7 ??
Nfcr . y*. *.12 7,?7 *04<f8.?i
Tkl rlo#M 4 to T prtaU hi*her |
LOW COAL PRODUCTION
AN INDUSTRIAL BAROMETER
1
Consumers Apparently Waiting Developments
With Small Supplies?Coke-Production
Two-thirds Below Last Year.
<B> Thf Wsshlsgtss Herald Keosomiai.)
Coal production shows a- , slight cause has Co some extent been
increase but retail movement Is stimulated by the refusal of miners
, . to consider anv wage cuts until
alow. As a measure of the depres- next sprjne wbich the operation
this is of interest since any tors have replied that to hold to
| general revival of industry must be such a policy means the closing of
Ollickly followed by an increased th?'r The result has been
; ; ' . strikes here and there, many of
| demand for coal. The rate of pro- wj,ich have been -'quickly settled
i duction of soft coal dropped stead- with but small loss of production.
ily during July and was about Buying by Industries and rall!
J-.00?;00* 1920. or almost r^ne'ds" "few'
!" Hard coal ?al*so declined but wa. b'!nK ,aUi fome.'lc coal is not
not so far below the level of 1920. ?on f a f,orn,a rat??
being only about 12 per Sept less. n" b"n >omc pnce CUU"'8
The big loss In production was in Th or< . ,?,???.,
coke, which was only about 45,0M. . vThe m"t < ?" be measured
tons per week compared to .ver i "r. '"J?"1?" of ,COal -"J? l"kt*'
395,000 tons a year ago. The pro- j ~h'ch '* the? '>f the ra,e
duction of coal and coke to August1"'. "ow ,he trade 'fa"k*
... . . , . i u hole. the amount of coal and coke
for the part two year, was .. fol- ; loaUed' ?? has ?not b?n f?
; behind 1920 and ahead of 1919 until
Csal and Coke Production to August. ; (he last two months. The decrease
(Net Tons.? | is chiefly in coke, which during
| ? . ,, 'JfJL ^ recent weeks has been moved at the
STrtC :::::: 2&5?Zj ?;'r -twn of 1920 and h.?
Beehive coke S.5?S.*0fr 12,411.000 or ,9,sA
part of the reduced production!. The ""J"-1 movement of coal has
1 has been due to labor troubles, but >< <'" gaining s nee April reflecting
I the chief cause of reduced output the, demand following the English
is the slackened demand. The first coal ,slr]k* T,he ,?tal for J""e"5
| greater than for the same month a
I year ago. The same rate of present
/1WTV\|\ II I V1TT A V1TC exports would, if continued, make a
lUKB MAIN iAIfb - ;r.,,'rLr"
IMPROVED TREND! r..!T:.?wy^ssr
m?.? 4.11 ir.rma
April 3*8 1.4.M
1??) ft. 403 S*,ft(7
However, Advances in Many ***? ? ??" =?. ?
J 1913 4.033 20.145
Issues Are Offset by This export movement, however,
# ^ ha!, not heen sufficient to support
Losses in Others. the market and more and more
miners face the need of closing
down unless domestic demand picks
XKW YORK. Sept. 7.?The im- up. A part of this depression is
: orovement which was noted in 'he probably due to the general lack of
New York curb market in the past any fear of a coal shortage such as
existed in 1920. The public* no
two days was well maintained in ronger is so disturbed at the prostoday's
dealings, but advances in pect of a coal strike in the face
many Issues were partly offset by of present conditions of unemploydeclines
in others, causing irregular ment and has relapsed into a dischanges
and a mixed tone. Special position to await developments,
interest was attached to Ainatga- This low rate of production remat.d
T.eather. which dropped from suiting from slack demand has been
11 to S"4 011 sales of less than 1.000 attributed to the high price last
shares*. Th?? stock last year sold sprirtg. and the present high price
! at 74. and on its original appear- with relation to other pric?a. The
I ance in 19I!? was traded in above 99. July index of coal was 184. which
| Industrials generally were active whs the highest of any of the sev[
and moderately strong. Glen Alden eral group wholesale prices except
being: :i feature and advancing to tW0t building materials ind house.Jb
in the first half of the day. Com- furnishings.
monwealth finance was a|so traded Fuel has not declined in price
in at advancing prices, the common during the year as have most other
ranging from ?;5", to fifPj and the groups of commodities, having lost
preferred stock sold at 8.1*4 and only 27 per rent while all other
831.*. Holbrook moved up to the commodities declined nearly 44 per
| new high record of 15%. Thillp The pric? of anthracite coal
Morris continued in good demand in lhe chestnut sise for domestic
and sold at 4% and 4 4. and R. J. use i? shown in the following table
Reynolds B was traded in at as reported by the Bureau of Labor1
Tobacco Products, after showing statistics in the quarterly report I
1 strength in the early trading, be- for tirHt quarter of 1921.
came heavy and reacted from b*? _ . . . A. _ .
to There a amount PnC" * ""?<>" OmL 1913IM1.
? . ~ ,, ? llhetnut ?ise, per long tea )
of business in Saguenay Taper at jt?i3 3, Ju|y ^
2 to 2'3. Denver common sold at 1017. Jnlj r. iKU iko' jujy p j
J S8 cents, and the prefrrred was 1018, Jg|; 6 ?9 11*21. Jsn. 10.0#;
traded in at 70 to 6"? cents. <?old- ! 1931, rrh. ift.03
wvr* Pictures was steady, selling at; 1921, Mar. 10.04 1
Car Light was in better de- j F ur,^kr increases followed in t
mand than for some time past. M*y; although the fuel group as a
being sold at 11-16 Tnter-contln- i declined. There appears litental
Rubber sold at KV 1 llc disposition among coal producers
Petroleum stocks moved within a to try to stimulate buying by price
j narrow range, failing to share in reductions. The public generally
j the strength that prevails on the f*'e'8 coal is priced too high !
I stock exchange. Standard Oil of and Hill not make purchases for!
j Indiana was prominent, 'moving up future.
' from 69-"S? to 70'4 Mara^aibo was - ___ .
1 in supply and reacted from, IS to ? 1/ A I IT1?C
' IS'i. There was continued active I. II I 11111 Will |JI*J
trading in mining stocks, with some w niivww
of those issues in increased demand A l\! AAA AAA
at advances. Further advices were I I./II 111 \ /Kll IM VII I If If I
received in regard to the eneour- I wVjVVUjVVV
i agin development results on Flor- |
I ence Goldfield on the little Florence ?????
! vein in a part of the mine which j prjce Advance in Ten Weeks
! has never been explored in the
past. South American Platinum Aggregates About $55
i was another strong feature ?
i a Bale.
Building Permits. continued from tage one
________ J?yed the best trade of the season.:
I.... o. , ? , , . Jobbers in Dallas were reported as!
!-? T r p i?i T* u !' saying that buyers already are |
1? i,,?' r-Vi^K . showing new confidence indicative
am Goldbrg. sign. 0f a heavy late fall business.
garage. 5811 31st st nw. lot 81. sq Dispatches from Atlanta said the'
i 2333 ] rise had completely changed South.
1SS0 To Gen 1 Auto Truck Co.., ern business sentiment.
j motor. 2100 Va ave nw. lot 51. sq j The opening of the New York Exs3.
: change was a tumultous occasion.
18S2?To C. I>. Saffcr, excavate. Prices advanced 152 points, or $7.60
19th and Monroe sts nw. lot . sn a bale, over yesterday's close.
| 2617- j Whereas traders a month ago had
18S4?To W G. Watson. Karage. envisaged a drop to 12 cents a
i 654 T st kw_ lot 70. sq 470. pound. 22 cents was being realized !
1585?To P. A. Oarthy. garage, j and there Vere hopes of 25 cents.
Morton pi bet 6th and 7th sts nw. _
lot 95, sq 855. I , " Cr?P """"
1886?To T. R. Goldstein, shed. Selling orders were so few that
! ?01 1st st sw. lot !> sq 643. ^ tho8e broker* having them were
1888?To M. B. Mall, garage. 5204 f*lr|y mobbed by others eager to
13th st nw. lot 99. sq 2804. ! and several were seen fleeing
1889?To C. Q. & L. s. Beades. 8 j *rom the pit on ,he run- 'heir coats
; motors, 1702-04 F st nw lot 20-21. ne?r.'r 5orn ofT- ,,
sq I70 The heavy trading is due to the
I" i89o' ? To Harry Levy. 2 gas "/J" r'P?.rt vof Scp"
tanks. 2?27 M st nw. lot 804. sq lnd ?l?nf that the grow10.0
,nK crop would not exceed 7.000.000
i T* a u' . . bales. There had been a large
' ,To ?* ?'? short 'nterest in the market, and
3.01 Nebr ave nw, lot 22-20. 402-6. the bears, scrambling to even up
. sq 1SM their commitments, have. now
1893 ?. To G. W. Beall garage, forced up the market from 16 cents
1360 F st nc. lot 142, sq 1028. to more than 22, a rise of $30 a
1894?To "Waggarrlan * Brown, 3 bale. On June 22 the price was
houses, 118-22 B st ne, lot 7. sq 725. 11 U cents, and the gain in the ten
1895?To Barbon est, sign, 914 weeks since that date is 155 a bale.
I .a ave nw, lot of 800. sq 382. The government estimated on
j 1897 ? To Asher Fire Proofing July 31 that the South was holding
| Co.. engine. 18th st bet H and I 6,640.000 bales from last year.
j sts nw. lot 820. sq. 105. j On today's bulge the extreme ad1898
? To Asher Fire Proofing ! vance from March to next May deCo..
shed S10 18th st nw. lot S20, j l,verips ranges from O^i to nearly
eq 105. ' . 974 cents per pound. |
1899?To E. G. Walker, engine, j Ynloe* Greatly laereaaed.
1 19th and Col rd nw. lot 3, sq 2538. j Tow'ard the close of last June
1900?To E. G. Walker, concrete! middling cotton sold as low as 9
| mixer. 19th and Col rd nw, lot 3. cents per pound on the Fort Worth
j Bq 2538. * | and Dallas markets, and at about
1901 ? To E. G. Walker, shed. cents at Houston, as against 9^4
I 19th and Col rd nw. lot 3. sq 2538.! cents at Montgomery and Mobile.
1903?To E. N. P.eid. raze barn, | Middling cotton at Houston today
Canal rd near n bridge lot J was quoted as high at on? time as
sq 1416. ' 21 cents per pound and 19^i to 20
1907 ? To G. F *: F Albaugh ! at most other Interior points In the
shed. 302.9th st ne. lot 61. sq (16 ' belt an<l abo"t 21 cents on the Au1908?To
P. R. Cass garage 5i9igusta and Galveston markets. This
.6th st ne. lot 116 sq 861 i extreme advance would be equal to
1909 Tn t> ' c.k?? ij an appreciation on 6.000.000 biles
l?rUml, Schofleld. garage. of stlrp|u, ?p,?nable rolton carried
jl 0 * airmount st nw. lot 80. sq | OVer into the new crop season, be|
" ______ I finnins August 1 last from last
MPT1I u * season's crop of about J300.000.000.
iWAtClVEil. It would also represent an Incra*
, ment in the price of the growing
NEW YORK, Sept. 7.?A further crop of 7.000.000 bales without linadvanee
of 15R is reported In Lon- ters. as Indicated In last week'#
don tin prices, with s?ot quoted at Bovernment crop report of $350,tl?2
and futures at ?1S? 10s, sales
fifty tons and 750 tons. Standard' * _ Todty's Test
copper is 5s lower at f68 12? f.H r?r _ ?1'*" m,h rlw- rio"?spot
and f69 i?. L V ,r ? ?" -W" 21-SO 19-.ii i?.ao |?.M
6,1 for futures, nw. . 21.m) ifl.so 1?.?0 lO.l-O
ales ,01) tons of futures. Ktw- Jsn 21.50 21.75 19.7J 79.75 20.25
trolytlc Is unchanged at ?7S. Spot I Msrrli . 21.w> 22.12 20.12 20.12 20.45
lead is 2s Cd higher at t?3 7s ?<l < Msn -" s* ?-r*
and spelter 2s ?d higher at ?25 2. Sd , 'r*r,',h^iw''-Tr*'k
'; ~ (\ itr'li 'fflfiiiii
Real Estate Transfers.
322 K lit ne. sq ?0?. lot 11?Annie
U O'Hara, grdn. to Annie Boswell,
?I0.
347 H St aw. sq 640. east 1? feet
lot 38?Conimrs of the D. C. to
L'has. 11. Wlltsle. 321.77.
Stanton av?. n.ar Douglas a??
h?. sq* 5871. lot 812?Same to
39.01.
Fessenden st nw, bet 30th pi and
3?th at. sq 1758, lot 22 and part
00. Reno?Wm. A. B?rger, trustee
Wm. A. Barger et ux. Juuna J., to
John R. DOnaldaon, 310.
2702 I3th st nw. sq 2830, lot 27,
Columbia Heights?Wm. F. Columbus
et ux. Martha, to Mary A. Columbus.
310.
S31 It st ne. sq >03, lot SO?Fanny
E. Saul to W. Thomas Ledbclter
et ux, Ellen E., 310.
Fort pi ne, bet 17tli and 18th sts.
sq 4137. lot 2, Addn to Brookland?
Wm. P. Lambert et ux. Mary M.. to
Noble J. Thomas et ux, Pauline
C., 310.
527 and 529 8th st se, sq 903. part
lot U?Maud M. Hirch et vir, J.
Wesley, to Kdwd Miller, 310.
Stuyvcaant pi nw, west of 33d st.
sq 2006. lot 10?l<ester H. Woolsey
et hi to John A. Creel and Edith a.
Creel. 310.
114 7tn st ne, sq 855. lot 303.?
Joseph R. Sears et ux. Agnes M.. to
Mortimer Donoghue, |10.
1365 Parkwood Pi nw, lq 2827,
lot 134.?Harry A. Kite et ux, Clair*'
W? to Mary L* Pauls, 310.
821 10th st ne, sq 958, pt orig lot
5.?Annie M. Gleason to Ellen W.
nrosnahan, $10.
N of Hamilton at. w of 13th st nw.
sq 2804, lot 72, 14th at Terrace.?
Herbert T. Shannon and Morton J.
Luchs to Minnie C. Hunt, 310.
2109 N st nw, aq 69, lot 216.?
Louis Weinberger et ux, Hessie, to I
Morris Park, *10.
138 U st ne. sq 3695, lot 41. High j
View.?Chaa. H. Totter et ux. Virginia
E.. to Aaron Goldstein. 110.
101.1 K st nw, sq 342, lot 53.?
Joseph M. White to W. K. G. Penny,
$f0.
1512 T st nw, sq 191. lot 50.?Pearl j
Houston to Julia V. Smith, $10.
It. I. ave ne bet 24th and 2Gth. j
sq 4290, lot 2, Sherwood?John G. j
Astrom to Mary E. Teague. $10.
1925-27-29 R I ave ne. sq 4209. j
lots 1, 7. IS and 19, Ellaston Ter- j
race?Anna E. Earigey to Rush W.
Conklin. $10.
1917 R I ave ne. sq 4209, lot 13. |
Kllaston Terrace?11. Nelson Crane, I
et ux. Adelaide E. to Frank M. Cole, |
$10.
1512 T st nw, *q 191. lot 50?Julia1
V. Smith to Pearl and Wm. H.
Houston. $10.
S. W. corner of 3d an Q sts nw.
sq 521, part lot 21?Catherine M.
Collins to I?ouis Alpert. $10
Sw cor of 3d and Q sts nw sq 521.
part lot 21?Louis Alpert.. et ux, Quasi*?.
to Samuel Gotktn. $10.
3919 Ga ave nw, sq 3207. lot 35?
Albert E. Rurlev to Nora E. Burley.
$1?.
Wis avp nw, bet M and N sta.
sq 1208. part lot 12?Wm. Brett,
et ux. Mary B. to The Farmers and
Mechanics National Bank of Georgetown
$10.
116 and 11$ 3d st n*. sq 758. lots
43 and 44?Alden K-Wine. rt ux. to
Frank L. Thomas. $10.
Frank E. Tnoma? conveys the same
property to Ald??n Iv. Wine, et ux,
Maude A.. $10
192S Calvert st. nw. sq 2546. lot 37
?-Georgie Taylor to Olive R. Taylor.
Edward E Taylor and Georgie T.
Wilkins. $10.
1034 29th st nw. sq 1192. lot 66?
Georgia Taylor to Edward E. Taylor.
$10.
1937 Calvert *t nw. sq 2547. lot
35?Katharino T. Heffner to Roberta
E. Minor. $10.
2800 S T>ak ave ave ne, sq 4341. lot!
1?Edward J. Maher et ux. Anna M.t
to Grace W. Carter. $10.
923 E st ne. sq 909. lot 61?Fanny |
E. Saul to Joseph Toquette et tix, j
Hlai* W
910 14th st ne, sq 1032. lot 69?B.
Frances Saul et al. trs. to Carl E.
Herberger et ux. Edith E.. $10.
984 Fla ave new, sq 357, lot 97?,
Ethel Si. Uutt>. t.? viola B. Page.
$1".
322 14th st ne. s<1 1032. lot 63?
Rosina M. May to Geo. L. Boswell
et ux, Ruth E.. $10.
2112 Ward pi nw. sq 70, lot 88?
Ethel M. Rutty to Susie E. Sehoolcr.
$10.
Southeast corner 13th st and Gallatin
st nw. sq 2928. lot 15?Gustav
Hartig et ux, Bessie to Rufua R.
Wilson. $10.
1721 6th st nw, sq south of 475.
lot 27?George E. Walker et &1. to
John E. A. Ware, $10.
E st sw. between 8th and 9th sts.
sq 412, lot 17?William R. Davison
et ux. Annie M., to Wolf Segel
et ux. Rebecca HO.
T'niontown, lot 575?.lames G.
Patterson et ux. Rachel G.. to Andrew
E. and Mary E. Yowell. $10.
South of Hamilton st. east of
14th st nw. sq 2805. lot 63?Minnie j
C. Hunt to Herbert T. Shannon and
Morton J. Euchs, $10.
Herbert T. Shannon and Morton
J. Eucha conveys the same property
. to Edwin S. Ea Fetra and
Eucia N. T*a Fetra, $10.
1312 Monroe st nw. sq 283$. lot
38-VAlbert W. Ayre et ux. Eouise
G.. ^to Charles F. Harper. $10.
South of Irving st, west of Warder
st nw, sq 3051, lot 140?Abraham
Newman et ux. Sarah, to Angelo
S. Pricci et ux, Rosa. $1*0
Quarantine tp Protect
Hawaii From Plant Pests
A Federal quarantine to protect
Hawaii against the entry of in-!
jurious plant pests, especially the j
sugar cane borer, the alfalfa weevil,
the cotton boll weevil, the papaya
fruit fly and certain insect enemies
of the fruit of the avocado, was an-I
nounced today by the Federal Horj
ticultural Board, United States. Department
of Agriculture, to become |
j effective October 1 1921. As possible
carriers of the pests, regulations
arc provided governing the
movement of sugar cane, corn, cotton.
alfalfa and fruits of the avocado
and the papaya from the
United States to the Territory.
These restrictions, however, do not
apply to commercial shipments of
these plants, such shipments being
safeguarded under territorial regulations.
As ship's stores, or In
possession of creprs or passengers,
they will be under restriction, and
government inspectors will see that
they are not brought into the TerI
ritory through the various porta.
11OW TO TIADE
II A Free Ro#k
F?r laves tars aad Tracers.
-? .. . .
Aak far Vloaklet I*-7
Joseph I. Clarke & Co.
33 Breadnar (Groaad Floor)
Sew York
Telephone Broad 7531
mm
SOFT COAL OUTPOT
FARBROWNORMAL
FOR FALL SEASON
Now 13% Under 1914
Rate, and 31% Less
Than Last Year.
DECLINE IN EXPORTS
British Coal Now Affects
Trade?Anthracite Production
Gains.
Production of soft coal appears to
have found a level for the time
being at about 7,760,000 tone a
week. The total output during the
Week ended August 27 Is estimated I
?l.7'I55,00# net toB*- against
..7.1,000 and 7,718,000 ton? in tha
weeks of August 18 and SO, respectively..
Preliminary reports indicate no
*reat change during the last week,
htatlonary production at this season
of the year 1a exceptional. The
normal trend Is upward and fairly
steady from April to November, according
to the Geological Survey.
The average daily production for
the month up to August 27 was
1..88,000 tons, much below the August
rate In any recent year. Thus.
In August. 1920. the dally average
was 1.848,000 tons. Even in August,
1914? a time of lnduatrlal depression.
It was 1.462.000 tons. Current
production is thus 1J per cent j
below the 1914 rate and 21 per coat
below the 1920 rate.
fssiMrlses by Tears.
Production of soft coal during the
first 102 working days of the past
?ve years, the period over which
records of weekly output extend,
have been as follows:
Year* of activity: 1917. 389,080,1918,
384.398,000; 1920, 343,-1
229.000.
Years of depression: 1919, 294.521,000;
1921, 267073000.
It will be seen that the year 1921
if in round numbers 37,000.000 tons
behind 1919, 86.000.000 tons behind
1820, and about 116.000.000 tons behind
the average of the war vears
Compared with the average of all
four years it Is SS.000.000 tons be-1
hind.
Production of anthracite during
the week ending August 27 recovered
promptly from the temporary
decrease m the week before. As
reported by the nine principal anthraclie
carriers, shipments were
fhe .? .Vy- cars In
the holiday week preceding, from
! pn1'n"'' ,h' tolal output
including colliery fuel, local Kales
etc.. is estimated at 1.893.000 net
Compared wlih production
during the week ending August 13
the most recent week of full-time
12T000 ^ons H'3 ?n
Production of beehive coke defined
In the week ending August
;; n?7 e .?utput estimated at
r ' , nf 'on*. The Connellsvillc
The "f,"" ,hi" Production in
the < onnellsvllle region was .1 sso
tons acainst 38 M0 tons i? the week
ending August ;o. the decrease
being caused by strike, a, the ovens
of one of the largest independent'
producers. Cumulative production
during is.j ha, now re|1,.h,d s TTg _
?n 19*0. ,0n'' ",fainM 14-??,000 ton's
Mevemea, to lew Kaglaarf.
The all-rail movement of roft
fnc t'h. England declined during
the week ending August *7
when according to American Railway
Association reports. 2,?70 cars
were forwarded over the Hudson
hiT'w Wl,h th' week before!
this was a decrease of 312 cars
Anthracite shipments totaled "47s
cars against 2.480 cars In the preceding:
week.
?' the depression in
export business which began with
strike ?f the Br,ti?h minersstrike,
may be measured bv reoorts
from the three coal exchanges at
Hampton Roads, which handle by
for the greater part of the oversea",
exports of bituminous coal
total dumped during the week elll
Ing August 27 was 83,828^ nef" tons
and was but 18.$ per cent ot
42.748 tons were r?V dumpings.
40.880 for foreign bunk"?0"" ,nd
Breadstuff Movements I
NEW YORK. Sent 7 tv .
:rLT" * ?
ar
0"<? I'I'I'ma 44.000
near !
The expert elearaacea ' fro . i.000
principal port, of th """
(New York, Ko.ton. Phltoi,?ih, " i0*"'
aiore. Ne.-port N- ' BsltiOrlesn.l,
lhu, flr th',. 4ilt" "ew
with eorre.pondinf d.y of """"Pare*
heen follows: ' week, kart
??r U'LW~i
^orl" "" 40ou0 5.0SO.OOO
?? ......., 44.000 70.000
Kxporta of wheat from th* " "
'New \ork. Boston. PHIIadelS,!. ? PTU
Iiw5?CT wer* <0000 bushels- lflt *nd B*1"
"00 bushels. ???neis, laat J9mr> n^.
SUGAR MARKET.
NEW YORK. sTili 7-7*.
- ? 4
p.:::::::::: # %
" '?? S
Of"^The **-at'lona*rBank * o? Z
bond ^department oT^hV 2?
f~^aVwd0cwT.s."yAdirondack,.
V'C"t,0n ' ?h?
j JACKSON t
_ Dep.ad.bi,
GRAIN -STOC
XAiona P*""'
uSS"*"' *r*
of tnli Kaaaaa ?Hsa..,.u.,
Osauaoroo.
*rtxoksar.. In P^sta, Bm
? TnU^ O.tr.lt Or
j * ? XaUa. Palatk. ?. UH. M
j timely wall street topics i
new york, Sept. 7.?1 nstead of country aa a whole could be protk.
..rly trading today, nounced aa improved. No on* In
showing In the eariyi .* Wall Street ha. ventured the oplna
continuance of the proni ? a thal the r,m ,n ,<lton b^,4
which had caused a reafctlon late primarily responsible for the imyesterday
the stock market started proved sentiment In speculative clr-1
. net gains of c,es. but all observers agree that it
higher and registered n,t ga n. o. ^ # t i
1 and i points over a broad ?? ot lor. ^
rails and Industrials before meeting
with an* selling pressure. On thla Certain market observers must
any seiung v have a reaaon for everything. Jn a
reaction tha greater part o market which Is advancing for some
early advanos was forfeited, after general reasons, they feel called
which trading became dull. Then upon to justify the movement of
. . afternoon the foreward Particulargroups when the general
In the early ai under thv "otlves themselves would be stiff 1riyvlii
tf such "sues r. Mexl- <='??? the rise In Souther. Railca^i
Petroleuiru 8?r? Roebuck. ?* ?j??>oard Air Line and other
?an p*troiV~ < corn Prod- railroads operating, in the .cotton
American t ba .... . belt has been linked up with. the
hf?k v*?la* Northern Pacific Rock r,m 'n ??tton prices. If there had
?ifan7 anl" sslsw^s a"d HudHn ?>~" doubt about the entire
Ialand and lowering cotton crop being moved, and If the
\m?n? ,v* ??? ?te from tol r,?* ,n ?>?on were doe
of the call ??? * ' 7, re *? ??" *"ich have removed
p" ^ .! ^noftlclal reoort^tbat ?*?' doubt, then there might be
r.omotpss.t'" ?e metal hjd r >< ??'? ? "gu-ent for
been sold durlng^August. Hlgh;r Souther.^ rallro^ stock
mark able rise In th? value of cot- ^ch mean...hat "ilroads operatj
,1ml,v The ,n cotton belt will have as
lid' ???lal p?gh? of^me ?c m?11 <"'??>? to <*rry.
iJeserre'ratios*of * *0? Richmond
and Dallas Federal Keaerve ?, \ji *'!' in w to'k
c _it. k.. k.._ .. ?? or at any of the other seaports. As
2ftH?i?3r2 ? "r "o'^r?"d^tryl
fora tke eoonomlc situation of the wh,th,r worth ,j mt|
r or 22 cents. The only logical arguIITTVr
a t pvpttnro ment that can be drawn from the!
WHr A I r IIJ KkN rue ,n cotton is a general one apVvIUi/11
iiuui11ju plying to Houthern industries aa
a ? m w*wwnw? ? well a* railroads?a line of reasonr
k DDirn itdu/ ad ii ln* predicted on the general revival
vimalmujl/ ul ft iaIW *h,cli * bigger profit on cotton
would bring to the South.
__ n . . n , . Being in a more cheerful frame of
httivy Buying and i cssimis- mind. Wall Street is able to uriiff
r, . /? . something favorably significant In
tic Foreign Crop Report? judge k h. c.ary. trip to me*ico
p The Street recalled the recent visit
incis vjoou udins. of Baldwin i?comoti\e representa
tlves to that country, resulting in
a., a 1 > w lhc completion of financial arrangechicago,
kept. 7.?Heavy buying m<?nl? whwl,y equ.pment for the
of wheat by houses with Eastern mo<!?rn railways will b. built in
connections and by the local ele- the plkn?. The memory of
ment on a report that India. n> r-1 lh<l dellberationi. between the oil
mally an caporting country had vre8ident? a,m Mexican officials is
bought around 1.500.000 bushels of tll, fr?h ,t generally believed
wheat in Australia and that the ul-| that Judge Carv will bring bark
1vlit? j prospective crop over 30.- p?in? ord,.? no on,. pretende
000,000 bushels less than la?t year, tha, ? ,.?untrv uk < oul(i
carried prices up sharply after an fur?jk,, lh. ??.,sbgr> impetus for a
arly dip on profit taking to a new |(u?m in j,teel trade, but it is behlgh
on the present movement with .?v?, th.lt ,h>trlpr business the
t may In new ground ?-ii the crop. ,,{ th?. steel corporation is able
Offerings were liRht after values he|p f||| uir ,.ap un.
i started upward and wm, stop-ins. u, ? ,prh,klj up ln thl!,
| orders were uncovered. The trade country.
i figure that the smaller crop in Au
.stralla strengthens the world's sta- . l , .
tlstical position, especially ln view * noteworthy sign ..f the times if
of th? drought prevailing ln Argen- ;h* l'rof"""n "hps" that are be-|
tine, ..no caused the small export 'p1-' tl?"'l"l ??t -barge in;
demand for domestic grains to be v"" "Peculatlve community these
Ignored. The sensational upturn dmv' an , ,'n m"r*' r'adable sign i
In cotton has caused a g eat change " ,h" *??'ngnesa of trsders to give 1
in sentiment. Premium un spot here a l,a,1'm to 'he v.irlous bits
i were easier and at Minneapolis un- '' x'ly,'r Throughout the trading
changed. No accumulntl ?n of stocks 'hrr* '? ?" air of expec- !
is noted in the latter market drrpite ^nc> ~>>u*e who give credence to
the large receipts. Country offer- *,ory 'h*' ,h" b,??" bears
ings In the Southwest were larger. h,v "wl'ch'" <n ,h' onetru.tlve
i i*orn and oats were easier early, ^ "f ,h" market e*|^ct that the
but when wheat started upward lir!st "rm ?" lh<> pr?kra *'? be
coa se grains followed, with oats "^m* effort or series of
1 showing more strength than corn. hri"k th* "ubl,ic ?" ,be
|and it was understood Xhat the ?*<"elines and Into the market. There
South was bujing rash oats rather b<> "" r'"! ''"i1 without
freely owing to the improved' flnan- ,h* ',"bl,r^ Therefore the public is
clal outlook incident 1 . the advance """'"j Trader, believe that some
in cotton. Country offerings were ^"'"'"tlve favorite is being groomnot
large and the seaboard demand 'd a?d ""t forth as a stalkrfor
corn slow, but the basis in the !"k,h.ors<'-, hence ,h" ?ppar<nt gul1
sample marset was stronger as of e\erv trader when he
' compared with the s pievnlfcer hea7l a ?'\rumor applying to this
Houses with Eastern connections ?r 1 at 8toc**
w-ere free buyers of lard, presum- ,
ablj he?-gii.k against .,>? damh td a hvkir
; tonseed oil Houses that usuall> act lllllllf i kami [ill
for packers were the sellers. This j 'vlll/ llvlil/lllu
buying offset to a great extent the Ifnnr, a Atnitrn
I effect of a break of 40*, 45 cents in |\ MflRk AfTIVP
hogs at the yards. Hulk of sales, u IflvllLl ntll'l
(there were at ?.?5i?9. Receipts 2s.-|
| 000. with 23.000 for tomorrow. West-j ????
; ?ekru:gt^#?yo;in'l" "#ar" Wutarittei Occur. Previous
;sn^ "a" * "me [ Advances Suffering
open High. i^,. Tw.\w 1 Slight Losses.
! w)iest-? i
| t< > ? i 31 1 1 -v 1,38'.
i "ee i so", 1.3?1, 1.2s>, i.ss's l.a>'. m-.w york. Sept. 7.?Trading in
1 Her .... 1 34 1.40 1.33', 1.3s1. l^1* bond, was on a more active scale
f"1- ... ... ... ... ... toda>. but this increased activity
| dee;;;;; ;h.| l,y "om? '?re?uurity.
may .... 6u't 'emfrd?j s advances were not
j Outs? maintained by all the issues.
33la -m'i .i'iu .3h1* .v?s though changes were only frac2*"
39'* tional for the most part, and the
i " "" p?vw.j::s -as ^:laj,""^*..7n","r*t,vwsr. n'rrow
! Pork -i None > The bond list as a whole opened
Lard? ? firm, reacted and then improxed to8ept.
.. ii.*2 11.?2 ii.an n ?o ll st ward the close. The railroad ts:
Oct. ... 11.90 11.90 11.60 11.65 I2.?u ^sues contintied to make a pood
Sept!*".. *67 s?r. shnw'n? were on the whole
i Oct. .7.7 9 no ? ?', g jj s ;s s jo from ' above yesterday*.
(furnish^ by w. b. Kikbi k c... s.mben quotations The Northern i*a.' llcChicg.
pmrd of Trsd?.) Oreat Northern t?ss. which g.d int^
, new high ground yesterdav ht l?rubaltimore
produce. >ovedw h under thi? ievh
' 1 for the greater part of the day
The threat Northern 7s. which also
baltimore, Sept. 7.?Butter? ; made a new high record yesterday
Fancy creamery. 42c: choice, 40*i at 1021*. wer* strong, and Xnrthern
1 41c; good creamery, 39fir40c: cream- j Pacific 4s improved their reo?>rd of
; ery prints. 424144c: blocks. 404|42c; the dav before.
ladle. 30??c. Maryland and Penn- industrial bond ,ss,ws werc.r
i sylvania rolls. 28fe30c; Ohio rolls. i(u ,
'tairy pilnu ":8e 3*0nc1 pwe" biue'r. ! *1^'" ts" wer'"'i ^"""""'1
33 6.15c Mower, as here also the Wilson and
kggs^?Wholesale dealers add l? ;[on""s v1'- whll? "rMln-;c
to following quotations for Job- h"?ee tlertr.c .s were lirm. Metl
1 blng -lots. Quotations are loss off; ran petroleum Ss droppel a full
Maryland and Pennsylvania and , ?'rt , mld-nfterno4?n front yesnearby
firsts. 38c: Western firsta. k, :r 9, 1 *?"t Sinclair
! 37? 38c: West Virginia firsts. 37c: gained slightly. The Inter!
Southern firsts. 36i?37c. . borough Issues were irregular, hut
Live Poultry?Chickens, old hens. rnobtly softer.. Interhor*?ii?:h-Metroi
4 pounds and over, per pound. 2s<ff i politan 4*?-s were up. while the Ini
29c: small and medium, 25<r27c; i t#rborou^h flrst refunding 5a were
! white Leghorns. 25c: old roosters. ! fractionally lower. f?>reiKrn governl ^>17c:
springers. 2 pounds and | ?t1'nt bonds held on t?? their gains
over. 30? 31c; 14 to 1 \ pounds. 28 i yesterday and even made some
i fn 2tc; 1 to l?j pounds. 27 r28c; further advance. Prl -e ? hanges in
white Leghorns. 1 pounds and American war bonds were irregular
lover. 26*# 27c: smaller. 2<hft 25c. and unimportant.
Ducks. Muscovy and mongrel.
| younsr. c0'a22c; white Pekin. young,
p,geons mr. isc-^youngl^pjur. frF||!l||||||||||||||fl|||'i||||||||||)|l||||||
l 2-c. Guinea fowl, young, m pounds j mst
| each, 60c: old, each, 40c. '^5 ^
James Trimble, sr.. vice president 3= ivcllv sprillj?f 1c.
of the National Bank of Washing- l[b r o
ton. accompanied by a few Intimate 5g cin/.l- ' 1*
friends, spent Labor Day fishing on ie ajllldclir v-'otlsoll
th. bay. and reports a catch of (sb
forty-two fish. This Mr. Trimble, j
avers, is not a 'Ush" story. ^ Also Late News on i mi
??""?~? Baltimore it Ohio
??s : Allis Chalmers ina
iROS & CO. 111 zzz
:ks '"cotton j 3 Simms Petroleum U
k bi'sm Ok lea go. ^
members =
.rd .1 Trada. *rc Twk. Pmdsee Ss b
_ class*. x j ?
(thshr )
sltlmsra. OhsaiWr m sb ? . _ ..... ?
rd ef t??*. s 8j1 IJth St. n. w.
ala tnkap *?*?<' Fredae. Eieaasr. S r??? *
.reheats' b D*tr-t. ef Ttade. S M. P. DR
kaa t?ra. Stock el. sk __
ik^giv s nkw york rHILADKLPHlA. Ej
r.ksmkar %f cmlf*. ?,
CMsags. BUck gietoif*. . ^ j j j j j j 111 j 111 j J | j j | j 11 j j 11 j | j 11 j j 1111 j j I
MILK PRODUCTION
IN UNITED STATES
SHOWS INCREASE
Last Census Returns Indicate
18.6% Gain in
Decade.
BUTTER F*ALLS OFF
decrease Attributed to the
Greater "Factory Output.
j
,The total production of milk ->?
cILT.. " ll" rnU'd 8t",e* in ""
calendar year 1??. .^.ordin(r
fourteenth cen.u., w.. oiJ
Ballon*. Thin quantity Include. ea
t.mates for farm, which reported
* on h?n?l but failed ?o
report any m||k productloll
Quantity of mi.k aetuaUy report..
t? 1?1? ... MII.74UM gallons
fn"*!!! W"h eallon.
tTon P'oX.
?sa
of that rear w?r . wtiimt?i?
on the number
n'lk." including manT thl? _
" Iked only ? ?h..rt t,^**,
,7th<,",r,h" ?n ,h* ?f
incuy dairy cows. and ?.
^,ob,b'' "??? the estimate, T
somewhat too lirn u- "
Hh7,PVJ"?n" *r" therefore,
~ re^"" ,h* m11"
L'u'-d.'o7
the 1'nlted State. nm..'?
C?4.?S0,?i? pound* in i?n? *
'"tine a decre... of m
Pound., or 2? , p,r ?nt Th . il!
;;:r; ?" ?
t??L ^ "taking of hu?er ?
rapidly transferred froa the
farms to factor!**.
Teia. |a I.ead.
farm. r,0flT,,oun,,*
Tennes.ee. p?und, K,n*? *?.??
pound.; Ohl" ?...
m ^nd^ "" a~*ta- ???The
quantity of cheese m??, ??
farm. In w? (.m m
While dn 1?0? th. fkrm VroZr~tL
Ther*.-"' *"* ** pound.
There wa. thus ? decrease of J (\jj .
th! S?"?' ?r " * r'r r*r" during
the decade Only , .millI
of the tot.l production of cheese is
made on farms.
o/hJ,?t w'r; "?? ???? rail in.
If "Jl'k ??!<! from farm. In the
^3.-fcKa.R?4 gallon* ln 1 ?n? rep?-e>
sentinp an increase of 3V 124 "<
jrallons. or 2* 6 p*r cert ~
I The States rrp.-,r,.nc th, ,ar ,
(sale. of milk in j.,? r.?e N>w
^ork. with S73.1?1 ?5! sallona- Wto.
consfn. with (7S.S1? ?5? r,Uons. >M
Pennsylvania, with 2SIM4.MI ral- I
,10ns These three States to*etheT
reported SI.3 per e*nt of the milk I
sold from farms in 1510.
Of the total farm production of
butter fn IflU <7A7??4?2 Ponn^, 1
:?7 t5?.S?4 pounds, or !>4 net- rent I
were reported ss ,old. The oua-jtJtv
of butter sold in 1*?? wan - '
0?0.4M pounds. There si? the--#,
fore, a decrease of go? 220
pounds In butter sold, or 4? ?> ner
cent.
Sales af Cream.
The quantity of crea*n s'n
1*10 van *2.?I7.S*? ra!1*ns .-ompar^d
with M.fH.S** caMr>n? In J
r#?nrerentinc an inorea?* I
j27.*13.^97 eallon^ or 4* 7 r#*- rr?" j
The sale* of butter fat *ro?n I
farms in the T*nited States ?n T?1? fl
amounted to S32.?44?7? pounds p*J
; compared with S^S.<C?.!;?7 ponn^a <nl
TH^<e fle*tr^s r?"nre?rnt sn
crease of po*nnd? or 7? ll
o*r cent. Th-i*. vbtV t^ere J
b^ep a fn hntter > ?.|B
'cheese made on 'arms and !r bntreA
sold. thcr?- a marked
, crease in r*?i'k. rresm ?r?d butte^B
fst sold Tl-'s is d'?e cfcfefv to
rbance in the method of dispos<^P9
of da i*"v products, msnv farm<9?l
I now selling m'lk. rrenm or bntAf
r t ? . b?*ttcr snd <^hr#???? fact'*'^#
Instead o* makinc butter or
on the fp-nv
F"|ve Stntes reoortc-d ?al?M> of r,- *?
l< ^0 AHA00A pounds of Hut tee f*t ;n
Ifl*: Wisconsin, t? 7*7.3?t ponnd-;
M'nnpsof^, R?41?Qf^- lows. 45.411.1"7:
?'?l?fornis 37 <7? and Mic??
{lean 31.414 7 pounds
CHICAGO LIVESTOCK.
CHirAOOfl Sent 7--Tst?l^ Mr.
| dium to pood yearllnfrs. S 5i?a5> r.":
. irood to cho|?*<? yeselin^s. > Sfl:?1rt
, eood to prime yearlincs. 1^ C.'.a
10 rhoii-e to prim** benvv st^fs.
j ?.75alft.25: fair to pood steers f* ""i
[ * " "'sin to fair heavy steers 7 ' *
| a? 00
Hoc*?f^ilk of s^les 4?.*?*0 rn??to
rhoire. ?*4 ??o^ind? 110. 7 ">*
'rs?: cood to choice. t*? !'
' pounds up. *.4?0a0 4*S; choi? e to prime
j shlppinr. S:S4?s?1?: smooth nsckinc
sows. ? r?0sT.r:? rouch nackiniz sows.
6.25s?.?i0 medium to ohoicc pijrs 1*0
pounds down. * f?Oa7.S5.
Rheep <iood if . hoice lambv ? **a
* 7S* fair to cood lambs. 7.5fta^^^;
[ feedinc lambs. ???a7 0*. yearlinc-.
, best prades ?.0*s7 0?: ernes f*t
liaht 3 iOa4.iO: ewes. h*r\\ |:
M; wethers, best (Trade*. 4.**a* * .
iiiiiniuiHiunHiiHutiiiiiii aniimii'!
Id I
dated
I
>0riant information in our
ekly Market Letter. "Bulls
"ears." gives a full page
lysia of these two stocks
?* <f ?*-?' rHF^-S, S
mkrf-BufarhfitB
? 1 n 11 tish 1 m 1 n .ar ^
Washington, D. C. S
lain >i?
AIN, Mgr.
U.TtMORE. RKADINQ KKWARC
fin iiiiiiiiiii Hiuiiiiiii wHm9
' ' -"'w >i?i riAMfciaaitet . I
