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Cotton Production Estimate Smallest in Score of Years Decrease From 1920 Crop of 28.4 P. C Greatest Change on Record in Sim? ilar Period, U. S. View WASHINGTON, July 1.?Cotton pro? duction this year promises to be the smallest crop in nearly a quarter of a century, to-day's forecast by tho De? partment of Agriculture placing it at 8,433,000 bales, or nearly five million bales smaller than last year's crop and nearly eight million bales below :ke record crop of 1914. This year's acreage is 28.4 per cent smaller than mat year's. The condition of the crop on May 25 *his year was 66 por cent of a normal, ""he production last year was 13,365, 75-i equivalent 500-pound bales, tho re? vised area in cultivation a year ago was 37,043,000 acres and the condition of the crop June 25 last year was 70.7 per cent of a normal. In 1919 the crop was 11,420,763 equivalent 500-pound bales. Tho acreage this year is the smallest since 1900, and never before.- the De? partment of . griculture aaid, has there j been so groat a change from one year i to another in acreage as there has been from last year to this year. The condition of the growing crop ' has not in twenty years been so low ; on June 25 as it was this year. All sections of the cotton belt have been affected. It is due, according to gov? ernment experts, to an adversely late, wet spring and to the presence of boll weevil in large numbers. Owing to the unfavorable conditions in April and May and to other dis? couraging factors, shortage of fertil? izer and unsatisfactory price, aban- j donment of planted cotton acreage has been greater than usual east of the ' Mississippi River, ranging from 5 per J cent in North Carolina and Mississippi to as high as 10 per cent in Georgia. West of the Mississippi abandonment has been slight. Estimate Has Little Effect on the Market Yesterday's government crop report was almost exactly in line with the average of the private figures pub? lished during the last few days. For that reason, and because of the holi? days, it failed materially to stimulate business, but the official confirmation of smail crop figures led to some buying and the market showed considerable strength in the late trading. Earlier in the day prices -were lower as a re? sult of realizing, but after selling off to 12.03 October advanced to 12.48 and closed at 12.43, with the general market closing steady at a net ad? vance of 22 to 27 points. The official figures place the condition of the crop at TO.2. the reduction In acreage at 2S.4, and tho Indicated yield at 8,433,000 l?ales, excluding Unters, which might bring the total up to nbout 9,000,000 bales. It is estimated on the basis nf ton months' re? torna that domestic mill consumption and t xports for the present season will amount to approximated 11,000,000 bales. With a continuance of trade depression such as that of the past season yesterday's crop figures will point to a decrease of fully ?,000,000 bales in the supply now on hand in this country, while many traders aro looking fur increased domestic con? sumption snd larger exports from now on. This prospect doe's not contemplate any actual scarcity of cotton for the coming season, but the gradual edvelopment of a situation which would call for the plant? ing of an Increased acreage next spring. June end prospects are subject to ma? terial changes before the close of the growing season, however, and local traders feel that the rate of marketing old crop cotton with the approach of new crop supplies presents another cause of uncer? tainty. Southern spot markets as officially re? ported were unchanged to 30 points hlghor, with a small volume of business. All three of the futures markets will bo closed to? day and the American markets will not re? open until Tuesday. The local market for spot cotton was steady and -in points higher at 12c for middling; no sales were reported. Markets in Other Cities Baltimore Raies Open. High. Low. Last. 15 Citizens' Bank 3SV, SH% 88% 38% 100 Cosden pl'd- 3% 8% 3% 3% 23 Con Power... 83% S4 83% 84 10 Davlaon Chem, 35% SOU 36%, 35% 117 Houston Oil pf 73 74 73 73 30 Maryland Casu 71 71 71 71 19 Merchants' Bk 18 is is 18 30 W B & A pfd. 27 27 27 27 Bonds $2000Clty Bait 4s'58 R2 82 82 82 4000 Cosden 6s. 92 92 92 92 1000 Con Pow 7%b. 95 Mi 96 % 96 V, 96% 2000 do 53. 97% 97% 97% 97% 11000 do 7a. 96 96 96 96 3000 do 4%s. 73% 72% 72% 72% 4000 Maryld Kl 5s.. 81 SI 81 81 1000 P W & P 6s.. S3 83 83 S3 Boston Mining ': Arizona Coral.. 7 7 7 7 300 Balopilas . 62 63 62 62 200 Bingham . 9 9 9 9 M Cal & Ada.... 46% 40% 4W 46% 16 Cal & Hecia...220 220 219 220 75 Carson . 12% 12% 12% 12% ti Copper Range.. 32% 33 32% :>"'.. 45 Davis Daly.... 5% 6% 5% 6% 100 K?st Butte.... 7% 7% 7% 7-% iOGranby . 20 20 20 2o 250 Helv.-tia . t 1 1 1 165 Island Creek... 63 63% 63 63% 10 IhIc Royale.... 19% 19% 19% 19 % 60 Masa Cons. 2 2 2 2 10 Mayflower O C. ?1% 3% 3% 3% .'?Mohawk . 49% 49% 49% 49% 38 Now Cornelia.. 14% 15 14% 16 6 New River pf.. 8-1 84 84 8-1 30 NtpiBSing . 4% 4% 4% 4% 11) North Butte.. .9 9 9 9 86 Old Dominion.. 21 21 21 21 35 Osccola . 26% 26% 26 26 20 Pond Creek... 13% 13% 13% 13% 200 Tuolumn? .... 60 ?0 60 60 108 U S Smelters.. 28 29 28 29 103 do pf . 39 39 38% 29 of Utah Metals... 1% 1% 1% 1% Railroads S Bos & Alb-121 121 121 121 126BoBton Elev... 64 65% 64 65% .10 BoHton & Me. 19 19 19 19 10 Maine Central. 38 38 38 28 40 N Y, N H A- H 18% 18% 17% 17% 10 Old Colony_ 59 69 59 69 2 IS West End. 41 41% 41 41 16 do pf. 50% 60% 60% 60% Miscellaneous 70 Amor Agr pf. . 63 63 63 63 16 Amoskeag pf.. 75 75 76 75 100 Amer l'un. 3% 3% 3% . ! ? 28 Amer Sug pf.. ?0 90% 90 00% ?47 Amer Tel.. ,.102% 103 102% 103 19 Amer Wool pf. 96 !)?; 96% 96 "20 Century . 25 '???> 26 : ? 160 Eastern Mfg.. 14% 15% 14% 15% 100 Eastern S S... 22% 22% 22% --'?; 2 Fairbanks .... 38 88 88 38 ?10 Gardner Mot.. 13 13% 13 13% 96 Gen Elec.128% 128% 128% 128% 405 Grays . 11% 12 11% 11% 60 Greenfield .... 25% 25% 25-% 25% 128 lull Cement, . 20,% 20% 20 20 60 lull Prods... . r>\ i> 5% 6 25 do pf. 17 17 17 17 ?60 island Oil. 2% 3 2% 3 ?'< Llbby . 7% 7% 7% 7% ">> I.news . (4% 14% 14 14 in Maas Gas. , 78 7 s 78 7S 64 do pr. 61 61 "! on WO McEiv.il 1st ?it 7 l 74 73 ? 6Mk\ Itiv. 27 27 27 27 to Nat Leather... t:% t. *-4 6 IjiU New Elm Tel.. I'M lut 100% 101 ; Pao Mil!?.160% it." l.? 160 '.? 160 > ? li Punta .Suya! . 2S% 28% 28% 28% is r*wift . ?>?> ?5 so si ?0 Awln intl. 23% it 21 hi . i 6 TorrinittoM ... 47 47 47 1? U U.ii Drus. 65 85% 86 60 do 1st pfd. . ?40 411 40 40 60 UrW Twist. 13 13 3 3 13 43 Uni Fruit.106 106 105 105 26 Un; Shoe. 36% 36 36% 3? 6 <. pfd. 24 24 24 24 746Vs.utura . 17% 17% 17% 17% 180 V?'dorf. 19 19 18% 19 m Waltham . 10 10 10 10 10 do pfd. ?6 66 St 66 Bonds 1*006 Miss Rv Pw 6s 7? % 77% 76% 1600 Nw JEng ~>1 ?? kl% ?1% 81% 77% I 11% What Things Cost Quotations are oath prices in primary markets. Privions 1920 ranne. Yesterday. dny. Weh. Low. Commodity and unit FOODS? Wheat (No. 2 hard) bn. $1.49 $1.62'/a Corn (No. 2 yellow) bo. .82'. 4 -811., Oats (No. 2 white) bu. .47'/-. .46VZ?.47 Floor (spring put.) bbl. 8.25@8.75 8.25?8.75 Reef (family) bbl. 16.50 16.50 Fork (mess) bbl.v... 24.25 24.25 Suirar (Rranulaled) lb.052<p}.053 .052(0.053 Coffee (No. 7 Rio) lb. .00 8-16 .06 5-16 ?utter (creamery, first) lb.33?.35 .33?.35 F.Rirs (fresh, first) do?.30?.32 .29?.31 TEXTILES? Cotton (middling upland) lb. .12 .1160 Friiit cloths (38!/a~64x60). .08?8 .063g Silk, raw (No. 1 Sin.) lb. 5.95 5.95 Wool (fine Montana scoiured) lb. .80@.85 .80@,85 METALS? Iron (2x Fhiladelphi?) ton...... Steel billets (Fittsburrh) ton..*. Lead (spot ) lb. Copper (spot) lb. Tin (Straits) lb. RUBBER ANO HIDES? Robber (ribbed-smoked sheets) lb. .12 .12 Hides (calfskins, city) 9 to 12 lbs. 2.45@ 2.50 2.45? ?.50 24.75@25.50 24.75?25.50 37.0O?39.00 37.00@39.00 .0445 .045 .111/2 .11'/2 .28% ,2334 $2.60 2.31 Vi 1.50 10.2'> 28.00 47.00 .23 .1634 .77 .89 .43-?i .26 17.45 2.00 53.51 65.00 .09'/2 .19' -2 .651,4 .54'/2 10.50 ?1 79 .94/2 .60 9.00 ?0.00 29.30 .08 .061/, .B1/a ?42J_ .14?/2 ?071/2 5.00 .80 33.00 43.00 .04/2 ?12'/2 .32 .15' 2 2.10 The range or prices: Thursday's Open. II?ph. Low. ("lose. close. July... 11.50 11.75 11.30 11.73? - 11.46 Aup... - - - 11.99?-11.72 Sept...-12.22<Si-11.96 Oct- 12.00 1J.48 12.03 $12.43?12.44 12.17 Xov--12.65?-12.40 Dec... 12.71 12.92 12.45 12.87?12.90 12.63 Jan- 12.75-13.03- 12. 57- 1 :' 98? ?? 12.73 Feb.... - 18.07?- 12.82 March. 13.07 18.31 12.98 13.28?- 13.05 Apr.... - - 13.36?-13.12 May... 18.40 13.40 13.89 13.66?-13.34 June... 13.50 13.60 13 50 13.66? Southern Spot Markets?Oalvcston steady, 30 points higher at 11.25c; .sales 982 bales. Now Orleans steady, unchanged at lie; sales, -117 bales. Mobile nominal, 26 points higher at 10c; no sales. Savannah quiet, 25 points higher at lie: sales, 231 bales. Nor? folk quiet, unchanged at 30.50: sales, 424 bales. Memphis steady, unchanged at 10.50c; sales, 750 bales. St. Louts quiet,; unchanged at 10.75c; no sales. Houston steady, 25 points higher at lie; sales, 2.151 bales. Little Rock quiet, 25 points higher at 10.26; pales, 137. Dallas steady, 20 points higher at 10.15; sales, 1,810 bales. Cotton Statistics Last Last Yesterday. Week". Year. Port receipts . . 10,926 7.721 2,1104 Exports . 2.800 84,785 10,871 Exports, season.6,035,222 4,892,118 6,184,400 N. Y. stocks.. 187,710 158,796 34,101 Port stocks ...1,501,072 1,616,004 803.000 Interior receipts 11.530 11,?70 6,150 do shipments 1(1,770 15,350 8,210 X. Y. arrivals.. 2.207 829 2,085 Liverpool Cables?Spot cotton quiet and unchanged; middling, 7.25d; sales, 4,ooo bales (3,000 bales American); Imports, none. Futures opened quiet, unchanged to 8 points higher; closed steadv at a net ad? vance of 13 to 20 points; July. 7.00d; Oc? tober, S.l-ld; December. 8.31d; January, S.;-.7d ; March, 8.51(1. Manchester: Yarns, a fair business doing: cloths hardening. Cottonseed Oil The market for cottonseed oil was Ir? regular, closing with declines of 10 points for July, while the other months were un ' hanged to 6 points higher. The monthly government report on cotton was about in line with expectations and had no special bearing on the situation, although the firm? ness in cotton added sorno support, as re? cent private advices on the crop have been rather bullish. Tenders of 2,500 barrels on July contracts caused the decline in the current month. Total sales for the day were 7,600 barrels. The range of prices: Thursday's Open. High. Low. Close. close. Spot. ? ? ? 7.50? ? 7.50 July.7.50 7.51 7.50 7.50@7.52 7.60 August... ? ? ? 7.80? 7.05 7.SO September 8.00 8.01 8.00 8.00@8.02 8.00 October... 8.08 8.09 8.06 8.00? 8.11 8.07 November. ? ? ? 7.85 07.05 7.80 December. 7.00 7.95 7.90 7.9207.97 7.00 January.. ? ? ? 7.9507.98 7.03 February. ? ? ? 7.96 @ 8.00 7.90 Sugar and Coffee Raw Sugar Futures?The range of prices: Thurs. Open. High. Low. Close. close. July.- - - 2.92@3.96 2.83 Aug. - - - 2.95? 2.96 2.90 Sept. 2.95 2.99 2.93 2.95 r?; 2.96 2.90 Oct. 2.92 2.92 2.92 2.89? 2.90 2.87 N'ov. - - - 2.82?2.84 2.80 Dec. 2.78 -2.78 2.75 2.74?2.75 2.73 Jan. - '- - 2.73@2.74 2.73 Fob. - ?- - 2.73? 2.74 2.73 Mar. 2.75 2.75 2.69 2.73@2.74 2.73 Apr.- - 2.7602.77 2.74 May.- 2.77@2.80 2.77 Coffee Futures?Tho range of prices: July. - - - 5.9806.00 5.89 Aug.- - f>.16@6.18 6.09 Sept. 6.29 6.40 6.29 6.34?6.35 6.29 Oct.--?? - ti.48?6.49 6.43 Nov.- - 6.6206.63 6.57 Deo. 6.71 6.81 6.71 6.7506.76 6.U Jan.- C.S6? 6.87 6.81 Feb-. - - ?- 6.9 7? 6,98 6.92 Ariz Plxtn... Ariz Sliver. . Ariz Tip T. . Blk Hawk. . Boa & Mon.. Chief Con.... Calaveras . . Crystal new Denbigh. Eagle B B.. Eureka Cro. Fortuna . Gadsden _ Homa Oil... Iron Bloss... Boston Curb Bid Ask| Iron Cap. .. 1 IS 3 5 50c 2 '? 75c S3 7 12 20 4 10 1 2% 1% 35 9 2% La Rose Majestic . . Mex Metals Midw Moss Mutual D T Monarch. . . Nati L ?k Z Rainier . . . Nixon . ... Svn Metals. Silver Reef. Un Ver Ext Yukon .... Bid . 5 ,15 23 85c Ask 5% 25 12 30 29 35 1% Bales. 220 75 100 25 60 2.". 46 Chicago Open. Armour pf. . . . 85% Briscoe, Mot... 10% Case Plow. 4 % Chi Till Rya pf. 2% Chi Rya ser 2. . 2 Cudahy . 50 Commonw Ed. 10S High. 86% 1 1 4% 2% 2 50 108 6% 95 70 7% 21 % 17% ? % 85 65% 42 26 90% 23% 41% 10% 11 4% 4% 2% 2% 2 2 50 50 108 108 5% 6% 95 95 70 7' 70 7% 21% 21% 17 17 6 % 6 % 85 85 64% 65% 42 42 41% 41% 82% 82% 82% 80 6% 10" Cont'l Mot .... 5% 25 Diamond Mat. 95 50 Hart, S St M. . 70 425 Lib, McN & L. 7% ?to .M dwest Util.. 21 % I 4" Montg Ward. . 17% 226 Nat Leather. . 6% 25 Quaker Oats. . 8". 1300 Seara Roobuck 66 60 Shaw . 42 2300 Stewart War.. 21 26 24 25% 200 Swift & Co_ 90% 90% 90 90% 430 Swift Intern... 23% 23% 23% 23% 3 100 Un Carb & Car 41 % 50 Unit Iron Wks 8 Bonds $1000 C W Edl 1st 5s. 82% Detroit 15 Amer L A T. . 80 80 lOOColum Sugar.. 6% 6% 600 Conl Motors.. . F. % 6% 26 Ford of Can. . .255 255 275 Packard . 7% 7% 26 Parke Davis... 80% 80% Philadelphia 4 Alliance Ins.. 17% 17% 17% 21 Am Stores_ 57% 67% 56% 8B Elec Storage. .103 103% 102 102 I...;.- sup Corp 7% 7% 7 30 l.- high N'av. . . 63% 63% 63 1471 Phlla R T_ 36% 17% 16% 6 Permit Salt- 67 67 67 6 Phila Co 6% pf 31 31% 31 : 1 Phlla Elec. , . . 21% 21% 21 160 do pf . 26 26 26% 500Tonopah Bel.. lV? i-f* 1-rV ion do Mining.. 1% i% 1% i% 473 Un Cas Imp.. 34% 34% 34 34 0 i don Traction 30 30 30 30 ? 0 Wl St Jer & S S 28 28 2S 28 Bonds $100 A Gas & El 5s 72 72 72 72 ?toon Bell T of Pa 7;=. 103% 103% 103% 103% 12700 El Sr Peo Ott 4s 53 53 63 63 6000 Pa 6%S . 97% 97% 97% 97% 1000 Phil Co cons 5s 77% 77% 77% 77% 6000 Phil Bleo 1st 5s 86 86 85 85 Pittsburgh 3076 Ark Not Gas.. 10% U% 10% 10% ISO a Wiii G3 Mach 66 60 66 60 (0 Kay Coun <?:i> 1% i1, 1% 1% 280 Lone Star ?las 19% 19% 19% r.i>-. 10 Mirs 1.1 & HI . 45 45 45 45 30 Na Pirep'f'g pf 14% it'. 1 c-, it% ?5 < >hlo Fuel Sup 42 -12 42 42 1 into Fuel on. 12 12 12 12 106 ( >kla ^;.! lias. 21 21%' 21 21 '?'? ? : . 36 36 ::;, 35 esl \abraKe 89 89 88 SS tO West Blectrio, 43VS 43% 43% 43^ 600 Sun T05. 3c ?c 3e 3c Toronto Ask 80 6% 6% 5% 265 255 7% 7% 80% 80% 1 7 % 56% 102 7 63 17% 67 31 21% 26 liV Bid Adamac ... ? ? Ap.-x.'? Atlas.15 Bailey.? Chmbrs Frl. 4 Conlagas ... 1% Crown Rsv.. 6 Dome Lake. 1 Ort Nrthn..,? Gold Reef... 1 Hargraves. ,? Hollinger . ? * Lako Shore. % Mclntyrs ... 1% 7 1% 10 7 3 5 3 Bid Mftg Crp Cn I Newray .... 2 Ptrsn Lake . 2 Poro Crown. 6 Pore Tsdl...? Poj,c lmprl..? Pr E Dome. Teck Hghs., Tmskng ... Thmp Krst,. \'no Gas 1 6 18 2 8 6% Wasaplka... 4 l%|Wesi Dome. 4 1%| Ask 1% 6 8 8 4 16 20 ? 10 10 S Tliurs. Open. High. Low. Close. cloSrt Mar. 7.02 7.03 ' 7.02 7.0807.09 7.03 Apr.- 7.160 7.17 7.12 Butter. Cheese, Eggs .lluttor.?Receipts were 13,374 packages. Creamery, higher than extras, lb., 86? 36%o: extras, 92 score, 86%c; firsts, 33(i 35c; seconds, 30?32%e; unsalted, highe than extras. 38?38%c; extras, 36%(@ 37Vic; firsts, 34@36c; seconds, 30?33c; State dairy tubs, tires!. 34%?35c; good to prime, 33?34c; common to fair, 27? 32c; ladles, current make, firsts, 27028c; seconds, 24c, packing slock, current mi ke, No. 1, 24c; No. 2, 23c. Cheese.?Receipts were 1,012 boxes. State, flats, Specials, lb.. 16%? 17c; average run, 15% ?16%c; State twins, specials, 16? 16%c; average run. 15? 15Vic; Wisconsin, double daisies. 16?lG!)ic; single daisies lG@16v?c; young Americas, 17%? 17 Vic; State skims, S011c. -Lggs?-Receipts were 15,602 cases. Fresh gathered, extras, dozen, 35 0 36c; extra firsts. 32%?34c: firsts, 30?32c; seconds and poorer, 25 028c; trade eggs, 24?2fic; dirties, regular packed, No. 1, 23V??25c; No. 2 and poorer. 20? 23c; checks, fair to choice, dry, 210 23c; state, Pennsylvania and nearby Western hennery whites, ex? tras, 42?44c; extra firsts, 39041c; firsts, 35? 38c; gathered whites, firsts, to extra firsts, 25 041c; under grades, 30? 34c; Pa? cific Coast, white, extras, 42?44c; extra firsts, 39041c; firsts, 35038c; other West? ern and Southern, gathered whites, 2S? 37c; state, Pennsylvania and nearby West? ern hennery browns, extra, 36?>3Sc; gath? ered brown and mixed colors, graded ex? tras, 35@36c; ilrsts to extra firsts, 30034c. Livestock, Meats, Provisions Yesterday. Year ?go. Live beef, fair to prime, 100 lbs. $7.00? 8.40 $13.00016.60 Dressed beef, > sides, lb.09? .16% .20? .27 Live veals, com? mon to prime, 100 lbs. 6.00010.00 12.00017.75 Dressed veal, city, lb.080 .18 .180 .27 Livo ewes, 100 lbs. 2.00? 4.50 6.00? 9.00 Dressed mutton, city, lb.06? .10 .14? .20 Live lambs, fair to prime, 100 lbs. 10.00012.00 17.00018.00 Dressed lambs, city, lb.16? .26 .26? .36 Hogs, 100 lbs.... 9.00? 9.75 16.25017.00 Dr eased hogs, bacon, lb.14 0.14% .220.22% Pork, bbl. 24.00024.50 39.50040.60 Mess beef, bbl... 12.00014.00 16.00018.00 Lard, Middle West, 100 lbs.. 11.06011.15 20.55020.65 Fair Business in Wool BOSTON, July 1.?The Commercial Bulletin to-morrow will say; "There I has been a fair business in wool dur- j ing the week. Prices are generally firm, although bright wools are pos- i sibly a bit on the easy side and scoured j wools are less active. In the West there has been steady operating at firm ! prices. Naturally the chief topic of j discussion is the proposed tariff, al- I though it is deemed too early as yet to say what its effect really will be on the wool textile industry. Some of the rates on manufactured goods manifest? ly are low." Public Utility Securities Bid Ad P & L 9 do pf... 70 Am L & T 77 do pf. .. 77 A G & El. 97 do pf. . . 86 Am P & L 50 do pf... 64 Am P Util 6 do pf... 1? A W W.. . 3 do 1st pf 46 do par pf. 7 Car P & L 20 Cntl St El 4 do pf , . . 40 Cities SVC.TI5 do pf.. . 4 3 do B sh 12% do7%dsB 95 do C. ... 7 7 do D.. . 76 do pf B. 4 Col Pwr.... 5 do pf... 75 C P R & T. 10 Ask 11 80 SO 100 37% 54 6 7 10 20 S 49 9 SO 7 45 3 25 4 5 13% 300 82 81 6 7 79 12 Bid CPR&T pf 20 BB*Rpf K2 E D El pf 60 EG* P Co 90 do6?? c n 77 8%j>f stk 75 8%'onnt 8 9 Fed L & T 6 do pf. . . 4 0 O & Elec.150 do pf. . . 64 No S Pwr 4 6 *do pf. . 7 7 Rep 11 & L 5 do pf. . . 15 So Cal Fd Ji9 do pf... 9 7 St G & E. 9% do pf. . . 32 % T R L & P 3 do pf. . . 4 Un R A- L 22 do 1st pf 6 7 West Pwr. 23 ?do nw pf 65 ?Ex dividend. Ask 32 84 70 95 82 SO 94 49 80 7 3 9 91 102 12 .210 .230 .155 America Atlantic Am Exe.h Battery Bowery .4 25 Bway C?nt. .125 Bryant Pk..l66 Bronx Nat.. 150 Butch & D. .130 Cent Merci.. 190 Chase.310 Chat & Phe..245 Chelsea Ex... 75 Chemical ...440 City.308 Coal & Iron..228 Columbia ...155 Colonial . .. .350 Commerce . . 205 Cmwlth _215 Continental.. 120 Corn Exch..300 Comptn . 80 East River.. 170 First Nati. Fifth Ave, Fifth Nati Garfleld .. New York Bank Stocks Bid. Asked. 1 "5 Gotham 0 Creenw Bid. Aikfil. ..190 200 22 S65 900 150 220 ich ..240 240|Ilanover _780 16l|Harrlman ..345 46? Imp & Trd..490 160?Indu.str?al ..155 17Sili'ving Nat. .175 160 Mnhtln Co.. 187 140 Mob & Mel'...287 200 Mtrpln.320 Mutual.510 Nat Am.150 New Nthr. . .140 N Y County. 3 3 5 N Y N B A.. 420 Pacific.3G0 Park.350 - Public..235 2iO;Seaboard ??Second . ??State.220 305123d Ward...200 100,'Untd States.160 ? Union K\ .... 165 875 Wshg Hts. . .225 ? Yorkville . . .425 1601 'Ex dividend. 230 320 256 100 450 315 230 16S 220 450 255 790 355 610 165 180 193 293 346 530 150 360 248 250 A?n Alinee..260 City of N Y.150 Comwlth ...300 Fid & Phoe. .485 Franklin_ 70 Globe A R..1090 Insurance Companies Bid Aski Bid 280 Grt Amer .. .230 170iHanover . .? 826 Hon BOO'Nat Llbc *v 80 Niagara . . ?'stuyvesant.. .325 .175 Ask 240 85 335 185 136 Miscellaneous Stocks Bid Ask Am Ltd.. 11% 13 do pL . . 25 50 80 180 3% An: M? |>f. 79 A M & F. .160 Am Td pf. 3 Am Typ F 40 A D T N J 35 Atlas P C. 40 B B & Sip 75 do 2d pf 66 Borden'?.., 88 Bush T pf 65 Celluloid.. 100 Chi Co... 9 6 do pf... 95 ?City Invt 55 Crk W pf. 86 ?Ex dividend 42 4 0 45 85 92 76 105 99 98 65 90 Bid D L ,t- W. 75 Draoer C..132 In; oil pf. 90 Lima L pf 88 Nat Cskt.. 95 NEngPuO 15 N Co 81 pf 96 ?N .1 Z w.112 P & W pf. 8 0 Phelps D..145 Ry Bkg P 75 do pf. .. 74 ?S C H L. 60 ?SgMfnw 86 StLRM&P. 36 Ptoll F pf. 94 W AB.... 90 Yale * T.230 Steel and Ordnance Stodis Bid Am Brass.157 Atlas PW..105 ?Dab & Wio:) Carb Steel 18 do 1st pf 60 do 2d pf 25 Colt A_ 30 Du Pont...IOS ?do pf. . 68 Kast Steel. 15 ?Ex dividend Bid A G A E 6s74 A P & L 6s69 Appln P 6s. .68 Col P 5s_71 El Paso 5a. .77 163 110 106 23 65 113 70 Bl i Em 6 & I, 20 do pf. . . ? ?Here Pw.109 do pf.. , 79 Nlles I! P. 46 do pf Mfg.275 ::: Iron 30 'or nw 15 idwd. . 40 Bonds \sk Bid f8 [Nr St P 6s.SS% ?1 U Lt A R 63.72 ro ?Utah Sec 6s. S6 Wig Ed 6s...80 135 95 1 M 26 lfiO 80 77 62 88 40 98 100 240 65 113 Bl iO 90 815 S3 Tobecco Stocks Bid G W Hfl. .165 do pf.., 90 J S Young 80 do pf. . . 88 MoA * F 8? Ask Bid 182 ,P R T T. . 65 03 ?Univ Loaf.140 Ask 75 Weym B. .166 do pf.. . 8? u s i ?i e s s news Slow Recovery in Business; Building Gains in the South Trade Conditions Are Little Chunked in Month, Says Federal Reserve Bunk; Wage Trend Is Downward ATLANTA, July 1,? Increased ac tivity in building during the last. month was the outstanding feature of commerce in the sixth Federal Reserve district, according to the monthly re? view of business conditions made pub? lic by the bank to-day. Tho renewed activity in building was attributable principally to the reduc? tion in prices, ra? her than to a reduc? tion in wages, the bank said. Reports received from eleven cities showed substantial increases in the amounl of building permits issued for May compared with the same month a year ago, and reports from ten other cities showed only small decreases. Business conditions, however, were little changed during the mo"nth, al? though the attitude of the public im? proved and sentiment throughout trade circles was more optimistic. "Reports from twenty-four represent? ative department stores in the district for May show little change from con? ditions in April," says the review. "The percentage decreases in May sales compared with sales for May, 1920,1 are smaller thin these shown by April, 1921, sales, compared with sales for April of last year, and some further improvement is indicated by the fact I that of the twenty-four reports for i May only six show smaller sales than : for April. "The percentage decrease in May sales, compared to May, 1920, sales by these twenty-four stores is 10.8 per cent. The same firms show sales for the first five months of 1921 are only 10.7 per cent lower than for tho same period last year." It is probable that ! the reduction in prices would account in a large measure for the decline. "Except for wholesalo groceries, figures for May sales by reporting wholesale merchants were smaller than their sales for either the preceding month or for May last year," the re? view continues. "Eighteen reports from representa? tive cotton mills making cotton goods show an increase of 7.8 per cent in the amount of cloth manufactured during May over the product of the same mills in April, although a decrease of 57.8 per cent compared with figures for cloth produced in May, 1920. "Nine representative mills producing cotton yarn reported 41.4 per cent more yarn manufactured in May than in April nnd only ll.C pec cent less than in May, 1920." Commercial Credit More liberal supplies of credit for commercial purposes are anticipated this month. Local banks are in a more .comfortable position, and the fact that institutions which have not been buyers of paper for a long timo have come into the market recently is considered a favorable sign. Commercial paper rates hold around the OV2 per cent level, snd no important reduction from this level is anticipated so long as tho Fed? eral Reserve discount rate holds at 6 per cent. The acceptance market has not been quite so active during the last day or two owing to the firmer tone in the call money market. The American Acceptance Council yesterday quoted the following discount rates on prime bankers' acceptances eligible for purchase by Federal Re? serve banks: Bid. Asked. 30 days .-.. 6% 6Vr 60 days .-. 6% 5V4 90 clays .?. ?i V? 5% 120 days . 5% 5% Call loans against acceptances, hVz per cent. Miscellaneous -Markets Standard Oil Bid Ask ! Anslo.Am. 16% 16% Atl RfR. do pf. . .105 Borne-Scr.340 Buck P I.. 72 ChesMfgCo.155 do pf. . . 96 Contl Oil.. 102 Crea P I,. 26 Cum P I..110 Burek P L 7S aso pf n. xs do pf old 8?, do com.. 31 Til P L. ...14S Iml P !.. . 73 S50 107 360 74 165 !>'J 107 28 120 80 9 2 82 34 152 75 Int P CoLt 12% 12% Nati Tran 23 N Y Tran. 125 Nrth P !.. 8? Ohio OH. .233 ?Par 525. 24 120 00 212 Companies Bid Penn-M F 20 P O & G.. 390 Prni P B. .165 Solar Rfir.330 So Pipe _. 7.8 So Pa Oil. 160 Sw P P L.s 53 ?S ?> Cal.. 69^4 ?SO Ind.. 6.-!.>a S O Kan.. 520 s O Ky. . .376 S O Nob. .140 ?S O N J.133 do pf. . . 106 ''. SON Y..298 9 ' i Ohio..330 do pf. ..109 Swan & F. 25 Un Tk Cr. 90 do pf... 92 Vac Oil... 248 WsliS Oil.. 28 Ask 25 400 170 2 5 0 81 165 57 70% 63% C40 39 0 145 137 107% 301 350 111 30 52 Miscellaneous Oil Companion Bid Aak| Bid Ask Atl Bobos. 11'..j 12% Merr Oil.. 8% S'A do pf... 50 60 Mldw Rfg,127 128 Br Am O.. 24 26 Mtn Prod. 7 r-(, 7% Cos ?k Co. 5 6 'North (I. .12 Elk Basn P 6% 6% Prd&Rf Co 3% Imp Oil... 84 88 |?S Ck l'r.. 9% Magn Pet.120 130 Sapul Rig. 27s ?Par 510. 'W O ? L Co J.4 Sugar Slocks Bid Ask Bid Car pup... 17 23 *Mt-Ampf25 Cent Bug.. ? 2% Mchfr. 5 do pr. . . ?? 16 Natlional.. 98 1 C Aguirre. 46 49 Ni Nlque.200 : F.irdo new GO 65 Savannah. 12 Qrt AVc.U. 140 160 do pf. . . 40 do pf... 93 103 I "Ex dividend. Mat-An .18 3'/* 10 Am Cyn.. do pf.. Casein Co Bow i 'h . . Du l'ont.. Grazelll 49 65 160 103 10 2? Chemical Stock? Bid Ask| 15 20 Ask "35 ?I 03 50 20 48 30 7 130 200 13 Bid Hook El. . 65 do of... 55 Ky Solvay 25 do pf... 93 8 ', Mei i-iinac, 70 ? Merc C pf 78 ?Mulfd Co.. 4 5 Ask 83 65 fix dividend Trust and Surety Companies Alliance .... 71 tAmerican Am Surely... 6: Bankers .... 2si Bond & Mtg. 201 Bklyn T C0..42! Cent Union. Columbia . . < lommerclal Equitable .. Empire T.. Frmra I. & T. 16 Fidelity .... i 'ulton.260 Guaranty ....245 Hudson . ... 160 Kings.660 Lawyers T...1 !" Law Mtg ...115 Mfis.200 .326 .275 .262 K?a. | ism. t ? Mercantile ..290 ? Metrpltn_2?.o 67 Mtg Bond. . . 75 290 Mut T \V.105 210 Nai Surety. .175 450 N Y B & T.. .560 330iN Y Trust. . .305 285UN Y Title...112 135 ;?? oples.270 267 ::? alty Asso.. 90 ? Title Guar...290 ? GO U S M & T. ,390 216 U s T C- 75 270 Wstchstr . . .110 W A B & M ; m iln Tr. ,165 ? Unid Stati 1 l :. S e N Y Title. 120 ? Includes AT st k 310 240 184 ::!,. m; 28Q 100 4 i U New York City Bonds Form, Rate, Maturity. Hid. A Inter l'As. 1967. 88 do I1-.- 1965. 8S do 4%s, 1963. 88 do i'-?. 1957. 8* do i'?s, 1966 . 83 do l'.,.?. 1964. do 4?4S, 1962. 83 do 4 ?s, 1960. B3 do 4%s, 1960, OP 1930. . - : d i la, 1969. 79 do 4s, 19.s. 7 9 do 4s, 1957 . Reg 4s 1956-85. 78'4 do ls. 1936. 84 , Inter 3 &s, 1954. 71 Coup :;'?s, 1954. 71 Reg ?'? '--. 19. 54, Inc. ... 71 . I 940- 50, inc. . . 5 50 do SVSs, 1921-'30, inc... 6.00 ReR and coupon (serial) 4'i?3. l921-'32, hie. Ask. Y 88-% 88 't 88% 88 % v 1% 8 I , 83% . 80 80 0 79% 5.25 5.45 .00 do 4Us. 1923 -'3 1, Inc. . G.00 fi 4 6 5.45 New York State Bends Issued in coupon and registered form, not Intcrchauceable. Coupon bonds res'.s terable. Form, Rate. Maturity, Bid. Canal and Highway 5s, 1822-'30. 5.20 do 1931-1340. 6.00 do 1941-197! .. 4.90 Canal Imp 4Hs, 1064. 96 96 Highway Imp 4tta. 13(1.. 99 ?8 '" Vak. 5.00 4.75 4.70 4.?1 4.11 Banker ?s Impressed by F rear h- Resources Tho natural resources and manu? facturing productivo capacity of Franco left a profound Impression on Tlonry E. Cooper, vice-president of the Equitable Trust Company, after his six weeka' tour of indus? trial centers. "The substantial construction of their factories," said Mr. Cooper of the French trade position, "together with the modernness of machinery and methods; the high character and ability of owners and oper i managers of the industries; the in? telligence and industry of their la? borers, and their position with re? spect to the location of their raw materials ?all these make for a standing in their own country and an ability to compote with other countries which are, to the last decree, reassuring. "As a result of my observations T cannot share the doubts or pes? simisms which apparently obtain in some quarters as to the future of France; on the contrary, I entertain only tho most positive and sincere confidence in it." I-._i Silverware Prices Cut Substantial reductions in the price of sterling silverware were disclosed in the new price lists issued yesterday by several silverware companies. Re? ductions averaging 15 per cent on ster? ling silver flatware were made by one manufacturer. Jfe intimated that his new price list for other silverware would also show declines from the price list issued in January. The statement which was sent by a leading silverware company to its stores, informing them of the price cuts, said in part: "As of July 1, prices en sterling silver hollow ware, flat? ware and novelties have been revised, all costs refigured and substantial re? ductions made on most articles. The same is true of silver-plated hollow ware, silver-plated toilet ware and novelties. No further reductions will positively be made during the period ending December 31." Speaking of silverware plated hol? low ware, an official of tho company said business during the first six months of 1921 was exceptionally good. An oven larger volume of business is anticipated in the next six months. Manufacturers and jobbers of silver plated hollow ware, the official be? lieved, have no stock on hand, and from all appearances the stock in the hands of retailers is extremely low. The head of a large silverware com? pany declared that present prices on this class of goods will remain un? changed until the first of next year, when a new prico list will be issued. Belgian in Ranking Group Thomas W. Lamont, of J. P. Morgan & Co., alternate, chairman of the In? ternational Committee of Bankers to Mexico yesterday announced that with the approval of Baron de Cartier, the Belgian Ambassador to the United States, Pierre Mali, the Belgian Consul in New York, had been designated by the Association for the Protection o? Holders of Public Funds of Antwerp to attend the meetings of the American group of tho International Committee as the representative of the Belgian Rid. Asked.Yield 91 94 91 91 91 94 Federal 1941, Federal 5 s, ?a, Farm Loan p 1931. Farm Lean p 1923. Federal Farm Loan 4%s, 1939, op 1024. 88% Federal Farm Loan 4%?. 1938, op 1923. 88% Federal Farm Loan 4%s, 1937, op 1922. 88% Joint Stock Land Hank 5s, Ask. 99 4.5? 4.66 4 Gfi 4.6(1 4.57 4.G9 4.67 4.C7 Form, Rate, Maturity. Canal Imp 4%s. 1965.. Highway Imp. 4 Vis. 1965. 91 Barge Can Ter 4 % s. 1945. 91 Highway Imp Is. 1967.... 86% Canal Imp 4a, 1967. 85% High Imp 4s, 1960-'62, inc 85% do 4m, 196S .-. ? 85*% Canal Imp 4s, 1960-'62, Inc 85% Palisades I S Pk 4s. 1961 86% Barge Can Tor 4s. '42-'46 85% - Federal and Joint Stock Land Banlc Bonds Bid. 98% 96% 1931 Joint Stock Land Bank 6s, 1938, op 1923. Yield. 6.10 5.22 6.37 6.39 6.42 6.70 6.73 U. S. Treasury Notes and Certificates of Indebtedness August i 'September 1921 1921 ptember . . i 92 i Octobi r . 1921 < ?ctober . 1921 ? I ificember ... 1921 February . 1922 ?March . 1922 ?Juno . 1922 ?June . 1924 Bid. 100 -fg 100,'j 100% 100 ? IO?.% . '. 100 100 Va 100 100 100 100 100 100 100 100 100 100 100 100 ri eld 4. S O 4.96 4.05 4.98 4.93 5.05 5.34 6.34 6.42 6.70 "Acceptable in payment of Federal taxes on tho dates of maturity. Short Term Securities Security. Rate. Due. Bid. Ask. Yield. Alum Co of Am 7s. 1925.. 96% 97 7.80 Amer Cotton Oil 6s, 1924. 88% 89% 9.86 .Am Tel & Tel 6s, 1922... 97% OS 7.40 du 8S, 1924. 95% 96% 7.75 'American Thread 6s, 192?, 94 95% 6.95 Amer Tobacco 7s, 1921.. 99% 100% 6.40 do 7s, 1922. 99% 100% 6.90 do 7s, 192:1. 99% 100 7.00 Anaconda Copper fis. 1929 83% 86 8.75 do 7s, 192;i. 91% ;i2 S.40 !A'n-Am Oil Ltd, 7%s, 1925 98% 99 7.85 Bell Tel of Can 7a, 1926. 92 94 8.85 Bethlehem Steel 7s, 1922. 99 99% 7.70 do 7a, 1923. 97% 97% - j Can Pac Ry 6s. 1924.... 95% 85% 7.70 Cen Argentine Ry 6s, 1927 HO 83 10.10 c u I & Pac Ry Gs,>1922 97 98 9.00 Con Gas ol XY 8s, *21.. . 1 in) % 10 0% 7.40 Cop Exports Inc 8s, 1922.100% 100% 7.50 do 8s; 1923. 99% 100 8.110 do Ss, 1924. 99% 100% 7.90 do 8s, 102.-,. 99% 100% 7.90 Cudahy Pack 7s, 1923.... 97% 98% 8.10 Federal Sug Ref 6s, 1924. 95 9(1 7.45 B 1" Goodrlch con 7s, '26 B9% B9% 10.26 Gulf ''il ils. 1923. 95\.j 96% 7.60 Hocking Valley 6s, 1924.. 90% 92 9.GO Humble Oil & Ref 7s, 1923 96% 96% 8.66 Int Rap Tran con 7s, '21. 77% 7 | Kan City Term Ry 6s, 1923 94 9 Lac G 1. 1st & ref 7s, 1929 89 ! ? 9 i I.ig ?i Myers Tob 6s, 1921.. 99% 9 Philadelphia fis, 1022.... 99;-3 jo Procter & Gamble 7s? 1922. 99% LO do 7s. 1023. 99% 10 Pub Ser N .1 con 7s, 1922 90 9 R J Reynolds Tob 8s, 1022 98% 9 Bi r i Dtoehuck 7k, 1921. . 99 ?. 10 do 7s, 1922. 97 Vk do 7s. 1023. 9E Sinclair Cons ' >il 7 ;...i, '25 01% 9 .- h y 8a, 1937. 9 ',' % 9 Southern Ry 6s, 1922.... 98 9 i l>\ Bell iv 1 7s, 1926. . . ?.. a St P i'n Disp guai- s'.js, '23 96% 0 Swift 0s, 1021. 99% g 23.96 % 9 is Co 7s, 1923. 9! I N all ? ^. 1 922 . . 86 Vi 8 West Blec conv 7s, 1926. 99% u Long Term Securities ?Armour conv 7s. 1930.... 95% S Aliar:,!!- Ro? 6%s, 1931. .100 It C & NW ,-,,?1 tr Gi.s. '36 98 % ' ?Gulf Oil 7b, 1933. 95% ! Kennacott Cop 7a, 1030... 91 1 X Y Cen col tr 7s. '30_100 i< ?Xw Belt T 1st mtg 7s,'41. 69% ! Penn R R 7s, 1930.101% 11 do coll tr 6%a, 1936. . 97 ! Stand Oil Calif 7s. 1931..101% 11 i Stand OU N Y 7s. 192S-'3I.100% H U 8 Rubber 7%s. 1930,. , 98% ! Vacuum Oil 7r iP30.100% V I Whouse Blue * Mxg 7s, '31 ?9% 1 8.55 8 7.00 6.00 fl.70 6.85 group, The membership of the Inter? national Committee includes American British, French; Swiss, Dutch and Bel? gian bunking groups. Decrease in Failures Noted Credit Guide Sees Improve* nient in Buninens for Week There were 1,320 failure? reported to Bradatrcnt'? for the full calendar month of June, as against 1,338 in May ! and 562 in June a year apo, it wafi an ? nounced yesterday. Liabilities were the i smallest since November, it was added. The Credit Guide analysis of busi ii"S", failures for tho week shows a further decrease ov?r previous weeks. There were 277 for the current week, as against 205 for the previous week and ?132 for the week before. The larger manufacturing centers continue to show decreased failures dining the course of the past few months. New York City this week had 111 failures, against 22 last week. "Notwithstanding the holiday and vacation spirits road salesmen report conditions much improved," says The Credit Guide, "This they attribute largely to depleted stocks in the retail stoics. The retailer, not having pur? chased to any extent during the past fifteen months, now finds it necessary to refill his shelves, but he is still buying cautiously and resorting to bar? gain hunting. Orders predominate in staples, the retailer apparently not car? ing to fill his shelves with novelties or the finer textures. For every 1,000 orders reported to Tho Credit Guide this week in tho men's wear there were 028 in the previous week, and in the women's wear for every 1,000 orders this week there were 932 in the pre? vious week. The carpet and house fur? nishing lines reported about 7 per cent improvements and hardware and building materials 17 per cent improve? ments over the previous week." livers Fairchild Service RALTIMO.RE M. Stein & Co.; M. Stein, woolen piece goods; Imperial. S. H. Goldman; trimmings, fancy braids; McAlpln. BOSTON Jordan Marsh Co.; A. W. Anderson, men's furnishings (basement); Miss M. A. Connollv. missen' and children's corsets; G. A. Hitchcock, men's clothing, bath? robes, custom clothing; N. Kane, misses' and children's cotton underwear; H. E. Morgan, ribbons; J. T. Reed, hosiery and underwear (Basement); D H. Walsh, wash Roods, linings; E. J. Pendergast, basement goods; 432 4th ave. A. Gordon & Co.; A. Gordon, coats, suits; Pennsylvania, Greenwood & Sons; I. "VV. Greenwood, wall paper; Herald Square. BUFFALO Wm. Hengercr Co.; S. J. Bradshaw, house furnishings, blankets, comforts, bed? ding'; 1? W. 30th st. ?I. N. Adam & Co.; Miss Edith A. Roberts, linens; 16 W. 39th st. CHICAGO Li. Klein; B. Levy, furniture, pianos, vlc trolas; 1164 B'way; CINCINNATI Joseph Loeb Co.; J. Loeb, millinery; 220 5th ave., Room TilO. CLEVELAND A. Horwltz; general nuise. ; Pennsylvania. A. Horwitz: general nid.se.; Pennsylvania. NEW ORLEANS S. H, Meyer, boys' furnishings; Pennsyl? vania. DETROIT FlnkelstHn Bros.; L. Finkelsteln, repre? senting, dresses; McAlpin. Ross Fur Co. ; Harry Ross, millinery, dresses, coats and suits; 220 5th av. KANSAS CITY. MO. Lyon Bros. Millinery Co. ; Charles H. Lyon, flowers, feathers, millinery, silks, ribbons, ornaments; McAlpin. PHILADELPHIA M. A. Cohen, woolen and cotton piece goods, annels, domestics, silks, satins, vel? vets; Great Northern. B, Welner, woolen and cotton piece goods, flannels, domestics, silks, silks, satins, vel? vets; Great Northern. M. A. Shapiro, men's clothing, furniture; Great Northern. Cimbel Bros.; Miss L. Story, white ba? ronette satin skirts; B'way and 32d st. PITTSBURGH The Kamin Co.; P. Lil'shltz, merchan? dise manager; McAlpin. SAN ANTONIO, TEX. Carr Clothing Co.; A. Adelberg, whole? sale Jobbers, men's and boys' clothing; 850 Broadway, room 901. SAN FRANCISCO TMeben's Specialty Shop; Miss Thleben, dresses; Pennsylvania. SIC?.MA, ALA. rentrai Alabama Dry Goods Co.; M. F. Ousdorf, general merchandise; 43 Leonard st. SPOKANE, WASH. Spokane D. G. Co. ; C. T. Glllettl, notions, jewelry, leather goods, books, drugs; 440 4th ave. SYRACUSE, N. Y. E. Tr. Edward _ Son; J. Diamond, lin? ens, blankets, comforts, bedding; 485 Cen? tral Park West. VANCOUVER, B. C. Davis Spencer, Ltd.; Mr. Billing, mara bougn and swansdown; 1104 B'way. VICKSBl 1RG, MISS. Baor &, Bros.; H. Baer, representing; 98 Franklin st. WASHINGTON, D. O. J. Nachman; women's ready to wear, millinery; Martinique. BUYERS COMING BOSTON Hudson Cloak and Suit Stores; S. & R. Felnsteln, looking at all kinds of fur coats; 42 W. 33d st.; expected July ?5. Satisfied Judgments In New York County The first name is that of the debtor, tho second that of the creditor and date when Judgment was filed: Schlosser, Lawrence ? Franklin Simon & Co.; Nov. 19, 1920.. $104.25 Montgomery, Richard M.?Stern Bros.; July 31, 1915. 827.25 Montgomery, Richard and Maude ?M. T. Fayou; May 12, 1910.. 831.46 Montgomery, Richard M.?A. D. Manson; March 3, 1916. 117.58 Butler, Francis X. ? Carnegie Trust Co.; Feb. 5, 1915. 2,387.26 Montgomery, Richard M.?T. M. Smith; Oct. 18,1915. 831.90 Same?C. W. Saacko et al; Nov. 27, 1917 . 66,638.40 Same?J, P. Winans et al; Nov. 24, 1917 .199,851.46 Same?M. S. Croxson; March 24, 1915 . 5,722.34 Same?Metropolitan Trust Co.; Feb. 14, 1910. 10.604.31 Same?O. B. Read; Nov. 1, 1918.. 4,449.52 Same?H. McL. Harding; May 25, 1915 . 762.20 Same?Norman L. Munro Estate; Aug. 23, 1915. 870.39 Same?P. J. Du Bois; April 9, 1919 . 2,245.81 Butler, Francis X.?G. I. Skinner; Jan. 16, 1918. 1,013.62 Steinberg, Ben -Le Roy Silk Mills, Inc.; April 27, 1921. 7,205.10 Vulcan ?V Reiti r Co., inc.?Paul Ditesheln Co.; Feb. 17, 1921... 1,882.10 Goldstein, Sarah-?N. Lamport; Jan, is, m?o. 6,920.70 Hirsch, Nathan?Smith Bros, et al; Juno 2S; 1921. 1,516.63 Delonlo, Joseph, and Daniel Brown?People, etc.; May 19, 1920 (vacated i . B00.00 We laser, Harry, Morris and Nathan?M. Strauss; June 4, 1921 . 3.697.64 Ackerman, Meyer H. ? M. Geller et al, May 17", 1921 (vacated).. 450.22 In Bronx County Joseph r-.u.-hier. Inc. ? M, E. Flncke; Sept. 7, 1916. ?3,155.70 Same?same, April 30, 1915- 4,399.38 Same?Same; April 30, 1915. 4,438.32 ANDREW .1. McCORMACK, Auctioneer. REGULAR AUCTION SALE STOCKS AND BONDS BY ADRIAN II. M?LLER & SON, OFFICE, 55 WILLIAM STREET, WEDNESDAY, -Il I.Y 6, 1921, at 1 2 : J0 o'clock, at the EXCHANGE SALESR< ?OM, NOS. il .\.\'U 16 VESEY STREET. Por Account of Executors: 15 shs. American Press Asan. 225 she. Cuban Land & Steamship Co. Por Account of Whom H -May Concern: 6 shs, Bowery 1 lank. II sh Mutual Bank. {63,000 Great Western Petroleum Corpn, 10-yi ar 6& Gold Bonds. 2,000,000 shs. Shaw Oil Co. $1,100 Massachusetts on Refining Co, Participating Conv. 7<?- Bonds, i 29 $2,000 Island Refining Corpn. 1% Bonds, 1929. 800 shs. United Dyowood Co. common. ?CO ans. United Dyewood Co. prefd. 200 Dhs. International Products Co. prefd. 50 shs. Navy Gear Manufacturing Corpn. prefd. 20 shs. Navy Gear Manufacturing Corpn. common. 100 shs. Central Sugar Corpn. prefd. 100 shs. Central Sugar Corpn. com? mon. 1.&00 shs. Buttarworth Judson Corpn. common, I j Bank's Failure Depresses Financiers in Paris 'French Government Expected lo Establish Another Insti? tution to Maintain Prestige Snirial Cable to Tht TrtbwitS Copyright, 1921, New York Tribune Inc. PARIS, July 1. Financiera in Paria aro greatly depressed at the ? failure of the industrial Bank of 'hina, whose deficit ?a reported to be more than 300,000,000 francs. The failure of the government's ef l forts to save the Link was reported ?lue to tightness of the money market, . coupled with lack of sympathy on the ; part of Paris financiers toward the president of the bank, Senator Andre Berthelot, a brother of Philippe Berthe | lot, general secretary of tho Foreign 01 ! fice. The bank has now asked the gov ! ernment for the privilege of a spe j law of transaction for the settlement . of its debts. It is learned that SAVINGS BANKS SWINGS BANKS Greenwich Savings Bank Sixth Avenue and Sixteenth Street, New York INTEREST RATE, JULY i, xozi Perannum.payable on ail .sum* from #5ro#5,oooonand Deposita made on ????"-? - ? ?? after July 16, 1921 or before July 10 (b "I .~ will draw ?uterest <p 1 Opens an Account from July 1, 1921 -_^ Four Per Cent CHARLES M. DUTCHEK, President L. DeG. QUACKENBUSH, Treasurer FRANC13 M. BACON, Jr. ? Secretarle? "g B. OGDEN CHISHO ?ISHOLM I The Bank for Savings IN THE CITY OF NEW YORK. 2S0 Fourth Avenue, Juno 8th, 1921. 204th Semi-Annual Dividend The Board of Trustees has declared an interest dividend for the six months ending June 30th, 1921, at the rate of Four Per Cent per annum on all sums of $5.00 and upward entitled thereto, and not ex? ceeding $5,000, payable on and after July 20th, 1921. THE DIVIDEND will be credited to Depositors as principal July 1st, 1921. DEPOSITS made on or before July 9th, 1921, will draw interest from Julv 1st, 1921. Liberty Loan Bonds belonging to depositors are being received for safe? keeping without charge. WALTER TRIMBLE, President. LEWIS B. GAWTRY, 1st Vice-President. GEORGE E. ROOSEVELT, Secretary. NORTH 1ER SAVINGS BAI 31 West 34th Street. 111TH SEMI-ANNUAL DIVIDEND The Board of Trustees has declared a semi-annual dividend at the rato of FOUR PER CENT. per annum on all deposita from $5 to $5,000 entitled thereto, payable on and after July 18, 1921. Deposit? Made on or before JULY 13TH, ?will draw Interest from July 1st. DA NUI NO BY MAIL PITARLES ROHE, President. GEORGE T. CONNETT, Sec'y & Tr?as. 146th SEMI-ANNUAL DIVIDEND Union Square Savings Bank No. 20 UNION SQUARE A DIVIDEND has been declared for the six months ending Juno 30, 1921, on all deposits entitled thereto at the rate of FOUR PER CENT. per annum on sums from $5 to $5,000, pay? able on and after July 18th. Deposits made on or before July 13th will draw interest from July 1st. WILLIAM H. ROCKWOOn, President. FREDERIC C. MILLS, Treasurer. II. ROCKWOOD BRINCKERHOFF. Sec'y. HUGH B. GARDNER, Cashier. Open 10 to 3; Mon. 10 to V; Sat. 10 to 12. ACCOUNTS OP SOCIETIES ACCEPTED. NEW YORK SHV8N?S BANK N. TV. Corner 14th Street ajid 8th Avenu? Dividend July 1st, 1021, at the rate of per annum on all sums from $5 to $5,000 entitled thereto under the By-law?, DEPOSITS MADE ON OH BEFORE Jl I.Y 11TH WILL 1IKA1V INTEREST FROM JlLY 1ST. WILLIAM FELSINGER, President WALTER R. BRINCKERHOPF, Sea'y. CLARENCE L. BLAKELOCK, Treasurer. Open Mondays from 10 A. M. to 7 P. M. Oth?r days from 10 A. M. to 3 P. M. Saturdays from 10 A. M. to 12 M. Holidays excepted. LIMITED PARTNERSHIP CERTIFICATE OF FORMATION of LIMITED PARTNERSHIP of SAMUEL CO I IN & CO. We. the und rsigi 1, having formed n limited partnership pursuant to tho pro? visions of the Partnership Law of tho State of New York, do hereby CERTIFY L That the name of the firm under which said partnership is to be conducted is SAMUEL COHN & Co., and the county wherein the principal place of business is to be located is New York County. 2. That the general nature o? the busi? ness Intended to be transacted is that of renting and leasing patented machines, In? vestments in mortgages, buying, holding and selling securities, and the making of and dealing In Inventions. 3. Thiit the names of all the general and special partners interested therein, all of whom are of full age and citizens of the United States, and their respective places of residence, are as follows: SAMUEL COHN, General Partner, 1942 Grand Concourse, Borough and County of the Bronx. City and State of New York. ROSE COHN, Special Partner, 1942 Grand Concourse, Borough and County of the Bronx, City and Stale of New York. JOSEPH COHN. Special Partner. 1942 Grand Concourse, Borough and County of the Bronx, City and State of New York. 4. That the amount of capital which the special partner. Rose Cohn, has contributed to the common stock Is Five Thousand ($5,000.00) Dollars In cash, and the amount of capital which the special partner, .h seph Cohn. has contributed to the common stoi k is Five Thousand (?5,000.00)# Dollars in cash. 5. That the time at which said partner? ship Is to begin is the 1st day of July, 1921, and the time at which it is to end is the 30th day of June, 1922. SAMUEL COHN [L. S. 1 ROSE COHN f !.. S. I JOSEPH COHN IL. S. ; Dated New York, June 30. 1921. HARRY R, BERL1N1CKE. STATE OF NEW STORK, / COUNTY OF NEW YORK, 5 S8' On this 30th day of June, 1921, before me personally came SAM! B?L COHN, U< iSE COHN and JOSEPH COHN, to me known and known to me to be tho Individuals de? scribed In and who executed the foregoing certificate and ; hey severally acknowledged to me that they executed the game. WALTER .1. .- WBENEY, Commissioner of Deeds, C ty of v w York, New York County Clerk's No. [Seal.] 187, New York County Resist t's No. 23,082. Commission expires April 5tb, 1923. STATE ' IP NEW Y< IRK, i COUNTY OP NEW YORK SAMUEL COHN, being duly sworn, de? poses and says that he ?s the gem . ner 'named in the foregoing e< rtifii ate; that : . m specified in said eerl Ifloa mtributed to tr,-- common ?tock by the special partner, Uns,. Cohn, that is to say. the ?um of Five Thousand ($5.000.00) Dollars, has been actually and paid In cash, and that the sum specified In said certificate to have been contributed to the common stock by the sp Joseph Cohn, that Is to say, th< : Plve Thousand ($5,000.00) Dollars, has been uctually and in good faith paid In cash. SAMUEL COHN. Sworn to before me this 30th day of June, 1921. WALTSR J, SWEENEY, Commliiiloiwr of Deeds, City of New York, New York County Clerk's No [Seal.] ?87, New York Countv Register's No. 33,IS*. CommlMiou expire? April alb, 1921. government intends to establish r French hank in China to ma tain French prestife in the Orient. -1-?-_ 100,000 Office ;:nd Storr Building Planned for Bronx A three-story -tore aV??l office build* ; ing is to be built by Bloom & Rubir j who have purchased the northeast' cor-' net of Brook Avenue and 101st Stri fronting 28 feet on the former thor? oughfare and 155 feet on the Utter The i ion of the bi will ? begin ironu cfiately. Carload of Figs Sold lier*? A carload o? fresh fige fr0n ma, containing 1,1 SO pacl .. 12 pound:.; each, were Bold ?/.. day at auction. The sale attracted un usual attention because it marked the first ?hipment ever received from Cali? fornia of a full carload of fre?h fig? The packages sold mostiv each, with n top price of '$2.30 P3r' - few ?mall lots. 8R?SMS SAVINGS BANK 115 CHAMBERS ST., N. 1. The trustees hive declared a dividend for On ?he months ending June 30, 1321. at tl.e r?te of FOUR PER CENT per annum on all deposit* from $5 to $5.000 entitled thereto, payuble on and after July IS, 1021. Deposits to $5,000 made on or before July 13th will draw interest from July 1, 1921. 11. K. TENER, President. GEORGE B DUNNING, Secretary. IN" THE CITY OF NEW YORK Corner 4th Avena? and 11th Street Interest at the rate of FOUR (4) PER CENTUM Per annum will be eredited depositors for 'he Biz months ended June 30. all sums entitle'1, thereto under th? By laws, net exceeding five thousand ($5.000) dollars, and will be payable on and a?t< r July 21, 1921. Deposits made on or before July 11, 352-, : will draw interest from ,r-.i!v l, 1921. HUBERT CILLIS, President. A. KOPPEL, II. Vlce-Pres. <?- Treas. LIMITED PARTNERSHIP SECOR, weil ? co. Notice Is hereby given that a limite 1 : partnership has been formed pursuant to the laws of the !~tat-.> of Now York bv ilp.iri- )'. S :or, residing at Osslniag, N. v.- Myron I.. Well, residing at No. H I Seventh Averno. Boroutth of Manhattan. City of New York; Isaac M. H^ssberg, re ! siding at No. 711 Eastern Parkway, Bor ; ougn of Brooklyn. City of New Y'ork; gen | oral partners; and I.oon Tuchmann, resl! i ing at No. 1990 Seventh Avenue. Borougn of Manhattan, City of New York, epecl I partner.?all of full ago; to buy and ee.1 ! and deal In stocks, bonds and securities on ?-. an-.! otherwise, and to do a general stock brokerage business under th< or firm of SECOR, WEIL & CO. Th" principal place of business of ?ail firm ie to be located in the County of New Y'ork. That tho amount of capital which the said special partner, Leon Tuchmann, has contributed to the common stock of sa:.i partnership is $75,000. That the time the said limited partner- ? ship is to begin Is the first day of July. 1921, and the time the same is to end s Juno 30, 1922. Dated, New York. July 1, 1911. SECOR, WEIL & CO. HILL * BUECHNHR: WE, THE CNDE signed, being desirous of forming a lim? ited partnership, pursuant to the prnv: - of the statutes of the State of New Yd:.. BY CERTIFY, FIRST: That the name under which said part tiers l- p is be conducted is JULL & Bl'ECH.NER, ?n<l the county wht-rein tho principal place of business Is to he located Is the County of Kew York. SECOND: The general natu ?> of the business intended to be transacted is that of importers and exporters of and rs in merchandise, and of commission : .mis. and of doing ail the business Incidental thereto. THIRD: The name.-! ? ' all the general and special partners Inter therein and th< tive piaces of residence are as follows: FRITZ H ILL, general partner, whose place of resid? 194 Riverside Drive, in tho Borough of Manhattan, City, fount-.- and :>.--.- York; C. FREDERICK BUECHN1 ral partner, whose place of resid? Is ,\'o. 170 West 59th Street, in the Bor ough of .Manhattan. City, Countv and Statu of New fork; LOUISE BUECHNER, spe partner, whose place of residence i a ... 170 '.-. Street, in the Borough of Manhattan, < ity, County and Btate .. v York. Both of tho general paitne^-s and the special partner Is of full age. FOURTH: Tho amount of capital wl ? partner, LOUISE BUECHNBR, the common stock Is FIFTY THOl SAND DOLLARS ($50 000.00) ish. FIFTH: 'rhe time at which the partnership is to begin is the first day of July, 1921, and tho timo at which It is to inate is the thirtieth da; of .hm?, 1926. Dated the 1st day of July, 1921. In the :"!'< i A. DRANDT, FRIT/, ?ILL, C. FRED. BUECHNER, LOUISE tNER. ; !?: . ?F NEW YORK. COUNTY Ol? NEW YORK, ss. : On this 1st day of July, 1921, before rr? personally appeared FRITZ HILL, C. FREDERICK BUECHNER and LOUISE BUECHNER, to me known, and known to me to be the Individ-. bed in and who executed the foregoing Instrument, and they severally duly acknowledged that they executed the same. CHARLES BISCHOFF, Notary Public, N. Y. County, No. 28S. r's Certificate No. 3,0.12. [Notary Seal.) DIVIDEND NOTICES Driver Harris Company HARRISON, >'. J. Notice o? Quarterly Dividends Preferred Stock Dividend No. 35 The Board of Directors, at a meettrff held on June 14, 3 9 21. declared the re? ular Quarterly dividend of one and three [uarters per cent. ( 1-Ti'?"<.-) on ?he outstanu k, for the quarter endlr.g , 1921, payable on July 1, 193 stockholders of record at the t business on June 21, 3i*-1. Transfer books from June 21, 1921, to July 1, Inclusive. Checks will be mailed. V. E. REEVES, Treasurer, INDIANA PIPE LINK COMPANY. is Broadway, New York, June 18th, 1921. A dividend of $2.00 per share bo.? s#???, declared on the capital stock of t! ' ith. 1921, t ? I at the close of business July h!h. 1921 All i tlons regarding p?*m?** ?hotdo ne sent x*\ the undersign later than August M It. 1921. GEORGE CSESE3RO*, Secretary. Office or IHK I MTU? t.\> IMPROVEMENT CO, N. W. Cor. Broad and Arch Street! ?etpliia, Jumo S, The Directors have this day de quarterly dividend of one pei i 'ommon Bto< k of this ? .able July K?, 1921, to hold era of * I record at tl of business June .10, 1921. Check? will b? mailed. I W. MORRIS, Treasurer. Liggett & Myers Tobacco Company, ST. LOUIS, MO., JUNE 28, 1921. The transfer books of the Registered i""? bonds of Liggett & Myers Tobacco Com? pany will close at 3 o'clock P. M.. July lath, 1921, for the payment of Intere? on said bonds, due Aufust 1, 1921 and will reopen at 10 o'clock A. M. August *. l?ll? T. T. A-?DJUR?ON, Trwiwtf