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The World of Finance and Trade.
Washington; New York; London. Activity of Reading Is Only Feature of Market. U. S. STEEL HOLDS FIRM ^ Earnings for Second Quarter Ex pected to Bo large. * f ?.j ' ? ? BANK STATEMENT ENCOURAGES -Actual Loans Expanded by $23, 1 644.000 and Cash Gain Is > M $4,988,000. * ' SFT \V YORK. June 13.-F)xcept for ' '^further weakness In Reading shares, "<irhlch was not without its effect on other active Issues, today's stock market was t full to the point of stagnation. The > activity in reading was accelerated by bear pressure, and there Is also the gen f eral idea that nothing of especial benefit to the road's shareholders is to be ex pected for some months, now that the i I'nlted States Supreme Court has in definitely postponed action In the coal * cases before It. Trading in the first hour aggregated about TO.OOO shares, and three-fourths of 8 that ?as in five of the active issues. * Including the anthracites. In the second t,or final hour the ticker failed for long *' Intervals to record any transactions. ?. The board room manifested some inter . est !n political developments at Chicago. V but other news of the day had little J bearing upon securities* values. Increase in Business. jj* There was another large decrease in *' Idle coa! cars, due to the resumption of ", operations at the mines after the pro - longed strike, and other freight equip i ment also decreased throughout the *** country, suggesting an increase in gen *? eral lines of business. **?'; (H the better known Issues, United J? States Stee held firm and estimates of >the corporation's earnings for the quarter soon to end were Issued from unofficial "" quarters. Some of these forecasts were ?' a- high as $26^000.000, or something like * $N.?*KU>00 in excess of returns for the first quarter of this year. In any event. It is expected that the result will fully cover dividend requirements of common stock. Bullion amount.ng to $500,000 was with drawn from the Bank of England for shipment to Turkey, thus confirming re cent reports of an urgent demand from that quarter of the orient. Engagement of $3*0,000 gold coin by a local banking house for shipment to Buenos Ayres next week, presumably for British account, was announced. Average Loans Increase. A striking feature of the bank state ment was the wide difference shown in average and actual loans, the former increasing by practically $41,000,000. while actual loans expended by $23,844,-1 000. The actual cash gain of $4,988,000 was in line with general estimates. Actu al reserves decreased by a little over $1,300,000. -Non-member Institutions which last week threw the burden of loans upon the clearing house, this week ef fected another contraction of that Item. Today's bond market was steady, with moderate sales, the aggregate amount, par value, beinsj $476,000. I'nlted States 2s coupon and the 3s and 4s coupon and registered declined on call during the week. New Tork Mining Stocks. NKW YORK. June 15. Alice , ... Comatock Tunnel Stock ... . I!! ! J o Coma lock Tunnel Uonda, offered ...ij coo. cai. ii?i v? : ;;;;; -J? Iron Silver /V I^eadvllle Con., offered M Little Chief offervd A" Maxlcan * *1 5.00 Opbir . ,o Standard k". T?lk> v Jacket !!.!!"! .45 NEW YORK BANKS. NEW YORK, June 15.?The statement of clearing house banks for the week ?hows that the banks hold $27,780,900 re serve In excess of legal requirements. This is an increase of $324,450 In the pro portionate cash reserve as compared with last week. The statement follows: Dally average: Loans, $2,1*13,082,000; increase. $4o,893, 000. 8pecie, $379,886,000; increase. $8,710,000. Legal tenders, $84,830,000; increase, >559,o00. Net deposits, $1,939,010,000; increase. S41.521.0O0. Circulation. $46,878,000; increase. $SS.OOO. Banks' cash reserve in vault, $390,927, uOO. Trust companies' cash reserve in vault. $72,794,000. Aggregate cash reserve, $464,721,000. Excess lawful reserve, $27,780,900; in crease, $3M,450. Trust companies' reserve with clearing house members carrying 25 per cent cash ? eserve, $66,241,000. Actual condition: ^Loans. $2.066,415.000; increase. $23,644, Specie, $381,325,000; Increase, S3.444.000 Legal tenders. 185.603.000; increase. $1,544,000. ^*?L^posi,s- 633,000; increase. 128,719,000. Circulation, $46,898,000; decrease. $66. 000. Banks' cash reserve in vault, $394,415, Uw. .Trust companies' cash reserve in vault $<?513,000. Aggregate cash reserve, $466,938,000. Kxcess lawful reserve, $29,235,050 de ' rease. $1.:U8KV>. Trust companies' reserve with clearing louse m?m!?r? carrying 25 per cent re serve. $68,112,000. Summary of state banks and trust com panies in <.renter New York not report ing to the New York clearing house: Loans. $?ll<?. 4.r#>?;?io; decrease. $2,011,700. Specie, $tt:.HO,5uu; decrease, $1 319(400 l*W*l tenders. *11.115.500; increase. $320. < VJ. Total deposits. $???. 572.900: increase Ml.4MK.noo increase. The Financier will say: The statement of the New York clearing l'Ouse banks this week revealed an un expectedly large expansion of *.i3.ti44,od0 in the loan account, according to the ac tual figures of condition, and the corre sponding increase of $23.81?.OUO In depos its raised reserve requirements to an ex tent that more than wiped out the cash gain of $4.1*44 000. The result of these operations was to reduce the exceag re serve by the moderate sum of $1,318,860 the totai standing now at $29,235,050. In the statement of averages the loan ac <ount presented an even greater Increase amounting to $4?XM?.0U0. but this can be accounted for as the reflection of last week ? admission of the Knickerbocker Trust Company's figures through its mer ger with the Columbia Trust, this ac cession to the clearing house resources i.ot appearing In last week's average ttatement. The weekly statement of trust ? >mpanies made to the state banking de i art ment showed a loan increase of $3 - 50.900 and only nominal changes in the o her items DRY, GOODS MARKET, *E%\ YORK. June 15.-The cotton! goods markets rule steady, with print cioths active and advancing. Lnens rule strong. Burlaps are uneven. There is a fair advance business being placed on spring hosiery and underwear. Closing Stock Lift. WRW YORK, June IB. _ , ( SalM , CI* t High. Low. M4. Allls-Chalmers pfd Amalgamated Copper ......... American Agricultural ? ??; ?7 " American Bwt Sugar 74* 74% 74% American C*n 33% 32% American Oar A Foundry ?*% American Cotton Oil American Hide A Leather pfd.. .? r ? .?.? American Ice Securities America* Linseed American Locomotive American Smelting A Refining.. Amer. Smelting A Refining pfd. American Steel Foundries .... __ .. American Sugar Refining 130% 1301^ .SOU American Tel. * Tel 145% 145% 1?5% American Tobacco 202 29~ 29 American Tobacco pfd ??o American Woolen ~Z,, Anaconda Mining Co 43% 43% 43 * Atchison 106% 106% ???% Atchison pfd Atlantic Coast Line ? ? ? Baltimore A Ohio 10T% 107% 107 % Bethlehem Steel ???? Brooklyn Rapid Transit 88% 87% 8;% Canadian Pacific 264% 264 Central Leather Central Leather pfd ,-V1 Central of New Jersey ? ??? *>"' Chesapeake ft Ohio 77 <6% Chicago ft Alton Chicago Great Western 17% 1<% }'*> Chicago Gr*at Western pfd. .. 33% :l;'% ,' ' 4 Chicago A North Western J-"* Chicago. Mil. ft St. Paul 102P* 102% lO.. Chlno Copper 34 34 .'J C.. C.. C. ft St. I .onto ? ?? Colorado Fuel ft Iron 32% 31% 31% Colorado ft Southern Consolidated Gas 141 140% Corn Products Delaware ft Hudson iV?f4 Denver ft Rio Grande Denver ft Rio Grande pfd ? ? ? Distillers' jWurltles 32% 32% 3*4 Erie 34% 34 -Vj? Erie 1st pfd 51% 31% ??]? Erie 2J pfd ????? General F.lectric 169% 12L J?? Great Northern pfd 133 132% 1?M Great Northern Ore CtfS. , ~',7? Illinois Central TitV Interl>orough-Met i"* Intertioroueb-Met. pfd 57fc ?>?% Inter-Harvester l*.^ Inter-Marine pfd. !,,i? International Paper 16% 1? International Pump 25% 25 * Iowa Central ? ??; J,1... Kansas City Southern 24% -*% Kansas City Southern pfd Laclede Gas Lehigh Valley 171 1.0 1.0* Louisville & Nashville 15?>% 150% 156 4 Minneapolis ft St. I.?uie Minn., St. P. ft Sault Ste. M lw% Missouri, Kansas & Texas Missouri. Kan. ft Tex. pfd. ???? "J;!?* Missouri Pacific 37% 37 National Biscuit ??? National Lead 57% 57 5? Nat'l Rys. of Mexico 2d pfd New York, Ontario ft West'n... 34% 34 34% Norfolk ft Western 111% 111% 111% North American *2 Northern Pacific 110 Pacific Mall . 32% Pennsylvania 123% 123% 123 People's Gas 114 113% 114 Pittsburgh. C. C. ft St. Louts 108 Pittsburgh Coal 21 20% 20% Pressed Steel Car 34% Pullman Palace Car 160 15874 159% Railway Steel Spring 35% 35% 35% Kay Consol 21 20% 20% Heading 165% 1.3% 104% Republic Steel 23% 2:1% 2:1% Republic Steel pfd 79 Rock Island Co 24% 24% 24% Rock Island Co. pfd 40% Seaboard Air Line 24% Seaboard Air Line pfd 54% 54% 54% St. Lonls ft San Fran, fcl pfd... 36 30. 3? St. Ixiula Southwestern 32% St. Louis Southwestern pfd 75% Kloss-Shetfleld Steel and Iron 50 Southern Pacific 100% 109% 100% Southern Railway 28% 27% 2S Southern Railway pfd 74 74 74 Tennessee Copper 44% 44% 44% Texas ft Pacific 23% Toledo, St. Louis ft West 14 Toledo. St. L. ft West, pfd 30 I'nion Pacific 168% 16?% 167% Pnion Pacific pfd WO I'nlted States Realty 75% Cnited States RoMier 63% 63li 63% I'nlted States Steel 08% 68 08% I'nlted States Steel pfd 110% 110% 110% I'tah Copper 63% 63% 63% Virginia-Carolina Chemical ... 48 48 47% Wabash 6% Wabash pfd 16% 16% 16% Western Maryland 57% Westlnghonse Electric 73 73 72% Western Union 82 Wheeling A Lake Erie 7 Total sales for the day, 114,000 shares. New York Bonds. NEW YORK. Jnne> 15. P. S. ref. 2s. /egistered 100% t*. S. ref. 2s. coupons 100% t". S. 3s. Tvglstered 102 L". S. 3s, coupons ,.... 102 l'. S. 4s. registered 114 t". S. 4s. coupon 114 Allts-Chalmers 1st Ss ,.... 62_ American Agricultural 5s 101% American Tel. ft Tel. ev. 4s 114 American Tobacco 4s *95% American Tobacco 6s *120 Armour ft Co. 4%s ? 91% Atchison gen. 4s 98% Atchison cv. 4s 10?>% Atchison cv. 5s *106% Atlantic Coast Line 1st 4s 94% Baltimore ft Ohio 4s 98 Baltimore ft Ohio 3%s 91% Baltimore ft Ohio S. W. 3%s 91% Brooklyn Transit cv. 4s 89% C.-ntral of Georgia 5s *109% Central Leather 5s 95% Central R. R. of N. J. gen. 5s 120 Chesapeake ft Ohio 4%s *10O_ Chesapeake & Ohio cv. 4%s Chicago ft Alton 3%s Chicago, B. A Qulncy joint 4s Chicago. B. A Qulncy gen. 4s Chicago. Mil. A St. P. deb. 4s Chlcajro. R. 1. A Pac. R. R. col. 4s ... * Chicago, R. I. A Pac. Ry. rfg. 4s Colorado Industrial 5s 82 Colorado Midland 4s 46% Colorado A Southern ref. A ext. 4%s . *.. ? ? 96 Delaware ft Hudson cv. 4s 68 Denver A Rio Grande 4s *84% Denver A Rio Grande ref. 5s 85% Distillers'5s 74% Erie prior lien 4s 89% Erie gen. 4s 78% Erie cv. 4s, series "A" 88 Erie cv. 4s. series "B" 78% Illinois Central 1st ref. 4s *95% Interhorough-Met. 4%s 81% Inter-Merchant Marine 4%s 6T?% Japan 4s *85 Japan 4%s .... *9a'i Kansas City Southern ist 3? "f73 Lake Shore d. h. U GD13> 93% Louisville A Nash. I n. 4s 98% Missouri, Kan ft Texas 1st 4s 95% Mo., Kan. ft Texas gen. 4%s *87% Missouri Pacific 4s 70% Missouri Pacific cv. 5? 84% National Rys. of Mexico 4%* 89% New York Central een. 3%i 87 New York Central deb. 4s &2% N. Y.. N. H. ft Hartford cv. *'? *129 Norfolk A Western 1st con. 4s 9S% Norfolk A Western cv. 4s 111% Northern Pacific 4s 90% Northern Pacific Ss 69% Oregon Short Line rfdg. 4s 93% Panama 3s *101% Penn. cv. 3%s (1915) 97% Penn. con. 4s 104 Reading gen. 4s 98% Kt. Louis A Ssn Fran, fg 4s 78 St. I.ouls A San Fran. gen. 5s 87 St. Louis Southwestern con. 4s *81% St. Lotti* Southwestern 1st gold 4* 91 Seaboard Air Line adj. 5s 80% Southern Pacific ool. 4? 90*5 Southern Pacific cv. 4s 94% Southern Pacific R. R. 1st ref. 4a ......... 94% Southern Railway 5s 107% Southern Railway gen. 4s 78% I'nion Pacific 4a 100% I'nion Pacific cv. 4s .. . 101% I'nion Pacific 1st and ref. 4s 90% I'. S. Rubber 6s llM% T'. S Steel 2d 5s 102% Virginia-Carolina Chemical Ss 99% Wsbash 1st 5s 105% Wabash 1st snd ext. 4s ?8% Western Maryland 4s 86% Wentlnghouso Electric cv. 5s 94% Wisconsin Central 4s *91*?i ?Bid. tOffered. Boston Closing Mining. BOSTON. June 15. Allouex .... 46 Amalgamated Copper ?... 83% American Zinc Lead A Sm 31% Arizona Commercial 5% Boe. A Corb. Cop. A SU. Mg 7% Calumet ft Arisona 74% Calumet A Hecla 511 Centennial 25 Copper Range Con. Co 57% East Btitte Cop. Mine 13% Franklin 12% Giroux Consolidated 5% Granby Consolidated 54 Greene Cananea 9% Isle Royale (Copper) 31% Kerr I^ike 2% Lake Copper 3*% La Kalle Coppet 7 Miami Copper 28 Mohawk 65% Nevada Consolidated 21% Nlplaeing Mines 7% North Butte SO North Lake 6 Old Dominion 57 Osceola 122 Qulncy 90 Shannon 1*% Superior Superior A Boston Mln 2% Tamarack 43 I*. 8. Sm., Ref. and Mln :t9 V. S. Sm.. Ref. and Mln. pfd 48% I'tah Consolidated 11 L tah Copper Co <1.1* Winona 6% Wolverine 110 It matters little what it ia that you want ?whether a situation or a servant ?a want ad in The Star will reach tile person who will till your need. LONDON STOCK If Dull in Fore Part of Week, But Cheerful Tone Prevails the Last Days. LONDON, June 15.?The stock market | was dull and hesitating most of the week, but after the elimination of an overloaded bull account in the midweek settlement operations freshened up and the week end found a quietly cheerful tone pervad ing most departments. The settlement Is thought to have left the technical posi tion of most sections sound, and If the j carry-over In American Marconi shares is wifely engineered next Tuesday an Im provement Is looked for. The threat of the leaders of the trans- | port workers to call out the railway men lost force and the gains In home rails were maintained right up to the closing. The feature in foreign securities was the decline In German threes, but the deal ings In this section were light and the market was almost Idle yesterday and today. American Securities Dull. With the presidential campaign domi-! nating Wall street little activity or Initia tive was shown here in American se curities, which moved irregularly and mostly downward, particularly In the lat ter part of the week. The market closed with prices ranging from unchanged to 3%i points lower. There is a good supply of money avail able at present, but discount rates are firm on expectations of tightening money in the near future. Plentiful Supply of Money. There was a plentiful supply of money available today. Discount rates were rirm and slightiy higher. The stock mar ket closed with the usual week-end quiet ness, although more cheerfulness was ex hibited generally. Home rails and Kaffirs improved, the latter on further satis lac tor y dividend announcements. Gilt edged securities fairly steady and Rio rintos ciosed higher. American securities opened steady and quiet. Transactions were light, but most | of the list ruled a fraction above parity. The closing was steady, with vaiues i tinging from ** above to % below Fri uay's .New York closing. BERLIN. BERLIN, June 10.?Trading was duil and prices were unchanged on the bourse J touay. PARIS. PARIS, June 13.?Prices were generally mm on the bourse today. COTTON MARKETS. NEW YORK. NEW YORK. June iu.?Alter making new high records for tne movement dur ing today's early trading, the cotton mar Ket reacted as a result of heavy realis ing, and tiie close was steady, but net unchanged to 0 points lower, generally a to 6 points tower. Tne market opened steady at an ad vance of o to 9 points, and during tne early trading sold aoout 8 to lO points net nlgher in response to strong Liverpool caoies, reports of further rains in tne eastern oelt, complaints of dry weather in ukiahoma and talk of hoi winds in lexas. This advance carried Octooer contracts up to 11.80, about ti'J points above the low level of June 3, and within ?5 points of the high record of the sea son, made last May. Ine eastern belt lorecast for continued snowers tonlgnt and Sunday and tne prospect of con tinued dry weather in the west prompted ouying, but some of the local weather experts were predicting better conditions in the belt by early next week, owing to me progress of a hign barometer trom the Facinc coast, and realizing became very active and heavy before tne end ot tne first nour. Prices gradually eased off under pres sure, ana the close was at practically the lowest of the day on the oid crop po sitions, although the new crop showed a closing bulge ot 4 or points on covering. Private cables attributed the advance abroad to heavy covering, and a good trade demand in the absence of important selling. W eekly reviews of the drygoods j situation indicated rather more active ousiness, and Fail River sales of print cloths for the week showed a consider able increase, which probably helped to encourage the early advances. Spot cotton closed quiet; middling up lands, 11.90; middling gulf, 12.15. No sales. Futures ciosed steady. Open, lllgh. Low. Closing. January 11.SI 11.86 11.71 11.74*75 February, ofd. 11.8* 11.7&a80 March 11.U4 11.US 11.80 U.87a88 april ........ ..... ..... ..... ........ May 12.02 12.03 12.01 ll.?8a85 June 11.40 U.32a37 July 11.05 11-50 11.41 11.42a43 August 11.05 11.08 11.52 11.63a&4 September .... 11.07 11.78 11.04 11.55a57 October 11.77 11.7? U.tiO ll.OOaOO November, ofd. 11-?S? 11.70 11.70 11.08a70 December 11.W 11.8U 11.71 11.70a77 July, 11.56 to 11.41; August. 11,67 to 11..">2, September, 11.6s to 11.64; October, 11.79 to 11.60; November, 11.70 to 11.70; December. 11.80 to 11.71; January, 11.86 to 11.71; March, 11.1)6 to 1165; May. 12.03 to 12<K. NEW ORLEANS. NEW ORLEANS, June 15.?Reports of , ; continued rains in the eastern belt and ; i Kood cables gave the cotton market an i j upward tendency at the opening today, ; ? and prices rose steadily on buying, but j late in the morning realizing brought , about a reaction, the closing prices show ' ing a net advance of 2 to 6 points. Futures opened steady at an advance of S to lo points, on an unfavorable weather map and encouraging cables. Under short covering and commission house buying prices rose sharply, July touching a new high level for the season at 12.45. The new crop months were held down somewhat by straddle selling against pur chases of July. On the rise longs took < profits and the volume of selling became heavy enough to check the advance and bring about a reaction. Bull support was lacking, and at the lowest of the morn ing the most active months were 3 to 7 points under the final quotations. Spot cotton, qui^t, unchanged; middling, liiV*; sales on the spot twenty-eight bales; to arrive 30o. Futures ciosed steady. January, 11.93; March, 12.U0; June, 12.34 nominal; July, 12.37; August, 12 06; September, 11.95; October, 11.85; December, 11.88. This was a bull week in th<e cotton market and prices of the most active months In the future department closed at a net advance of 35 to 51 points. The market practically closed at the highest fand opened at the lowest; at the highest, trading months were 44 to 59 points over last week's close, at the lowest they were still 8 to 10 points over. Huge operations by leading bull interests were ^ responsible for the rise. Bulls claimed J a widespread improvement in the spot demand was the real foundation for their trading. Their claims of a better spot inquiry were practically borne out by the rise in spot prices in the local market, and by trading in the Liverpool market, where spot sales this week amounted to 70,000 bales, against only 26.000 th'.s week last year. The weather of the week played a com paratively small part In the week's trading. The western belt could have used more rain and the eastern belt could have ifotten along with less. Buying by the Mills absorbed all offerings from the short side based on the conviction that new Crop prospects warranted sales. In the sjpot department prices rose Vi of a cent, middling closing at 12*4 against 12 cents' last week and 15 7-16 this week last year. Sales on the spot amounted to 1.61ft! bales, against 1.670 a week ago and l,176(thls week last year; sales to arrive amounted to 833 bales, against 863 laat week and 1,405 this week last year. / STREET IS CAUTIOUS Professionals Await Outcome of Political Conventions. WEEK OF LITTLE TRADING Speculative Talent Ready to Accept Whatever Comet, However. BUSINESS OK THE INCREASE Metal Trade Shows Betterment in Practically Every Branch. Other Lines Active. BY H. ALLOWAY. rCoprrlcht, 1912. by It. G. Hopper. N>w Tort.) NEW YORK, June 15.?Another week of shrunken trading?professional "Wall treet becomes exceedingly cautious as the presidential conventions draw closer and political noisiness gets louder. Actually there is little feeling upon the stock ox change as to what may or may not be convention results, the speculative talent of Wall street being ready to accept philosophically whatever comes. It is obvious, as hitherto pointed out in this review, that leaders in the financial world are generally dispot^ed to belittle politics as an important influence in mar ket making for the present?it being olear that in many consequential quarters there are larger volumes of securities now owned or being carried than for a con siderable time past has been the average. It is their market position that induces the affectation that there is nothing in politics to be regarded as worrisome. Were these same strong men out of their stocks, were they not required by their own committments to display cheerful faces, we would be hearing very different views. The congressional bank investigation so far falls flat. Strenuous efforts to spring sensations come to nought. Even flam boyant advertisements taking up whole newspaper pages failed of their purpose. It has been much prophesied for months past that from the moment Mr. Pujo and has associates started upon their in quiries there would be nervousness on every side, with stock market demoraliza tion. Some operators are credited with having sold stocks short on a lar^re scale in the hope that quick profits would be made through the much predicted de clines. Yet so far the disclosures do not get much beyond the fact that the big banks of JCew York are doing business stupendously beyond former maximums, that some bankers think the clearing house should be incorporated, while oth ers are of different opinion. There isn't very much in an exhibit lite this to startle the public or worry any body except those stock market specula tors who have been counting upon sensa tions and a stampede. It is diriicult for a normal observer to comprehend any such state of mind as in some quarters has recently been hippodromed. They who will most be pleased now by adjourn ment of this investigation till after elec tion are the selfsame speculators whose first guesses have proved expensively wrong. Await Political Settlement. It is become clear enough that in so far as present plans propose there is going to be scant show of interest in the market upon the part of the stronger operators?till election uncertainties are apparently settled, at least. There is no evidence that Mr. Morgan will return to the country this summer; and at least three of the most important representa tives of Standard Oil interest and power will also summer abroad, while a score of lesser market-makers are getting ready to sail. This does not necessarily mean that the market will be left un protected, that bear speculators will have any easy time in trying to upset quota tions; what is manifest is that for the immediate present there is not likely to be anything approaching aggressive action upon the bull side. From the standpoint of banking houses interested in current emissions of new securities this program iB not disagreeable?as it provides, in the absence of stock trad ing activity, a better opportunity to ex ecute plans for the placing of substan tial volumes of new bonds. It isn't only here that big fresh batch es of securities are being produced, making tremendous extra demand upon the resources of Investors, for statistics from abroad show that in England and Germany at least there is still greater excess?while, continually, the very high est type of foreign securities (Including British consuls) keep sagging and sag ging. And, meantime, foreign labor trou bles make, by comparison, any complica tions we have had here seem relatively trifling. But this European unrest, and the disturbance of European markets, with natural consequent nervousness among European investors, cannot at this Juncture provide any such influence here as formerly, and not very long ago, must have been the case?for Europe does not today hold American securities in large volume for speculation and can not throw back upon us, as used to be the custom, volumes of our stocks and bonds every time they were in trouble. Truth is, the American investment mar ket was never to any such extent as at present so independent of the rest of the world. And this fact is of large conse quence in our favor. Business in Country Good. Canvasses made (unprejudiced by spec ulative Interests) ^iow that business gen erally throughout the country is good and that the tendency is toward improve ment. And as to the agricultural sit uation the record is, in any fair survey, found to be very different from what the grain speculators are proclaiming. Crops are going to be good, condition and vol ume both better now than reported at any time since the start of open growth. Reverting, as one has to continually, to the metal trade as criterion, it is found that betterment appears in prac tically every branch. This is accentuat ed by the fact that every one of the big ger iron and steel manufacturing com panies is planning considerable expansion in plants and productive capacity. Hard headed business managers do not do this thing when there is prospect of recession, much less when hard times are threaten ing In other branches than the metal trades the same factor appears, notably in cotton manufacturing at the south. In copper the improvement registered has become simply phenomenal Avail able supplies show vast reduction. The price of the metal is advanced to figures unapproached in recent years, and they who are quoted as trade authorities are forecasting a still further substantial rise. One element contributing to this evolution of the copper trade out of actual mining poverty, is attributable in no slight extent to the expansion in electrical development?incidentally giv ing new consequence from the investment viewpoint to the securities of manu facturing corporations like Westing house and General Electric. In one phase of vhis particular improvement there may even be discovered revival for the for tunes of the Allis-Chalmers Company, which Btumbled into insolvency at the start of the year, though under the patronage of Judge Gary and other con trollers of the steel trust. No Dividend Beductions. One notable fact to be considered in estimating current conditions has to do with the dividend policies of the bigger corporations. This is the first of June for years past that has not been marked by forecasts of widespread dividend re ductions. There are almost no Instances of that sort this year. Upon the con trary there are expectations?based prac tically upon financial assurances?that current dividends in a number of con spicuous instances are to be increased. Some substantial increases may be count ed upon. In fact, though so far there has been no public prediction of them. Upon basis of facts there is no warrant Corrected to the Close of Business June 15 at the New York Stock Exchange. Thfr following: table shows the week's highest. lowest and closing: prices, indi vidual sales and net chants of securities sold on the New York Stock Exchange last week. High and low prices are also given for the v*ar 1911 and the year 1912 to date. Railway and Miscellaneous Shares. r?1911 , Hick. Low. 71* 44% 59% 39* 12* 03* 58* 62* _8% 77 42* 41* 25% IB* 43* 32* 5% 3 43* 31* 83* 56* 225 225 52* 25 122* 112* 153* 131* No sale. No sale. 34* 24* 41* 2? 116* 9ft* No sale. 107 103* 109* 93* 38* 26 84* 247 33* 72 195* 18* 86* 68* 133* 105* 150* 138* 27* 10* 36* 25 148* 128* 15* 9* 38* 29 38* 27* 168* 142 7* 3* 53 44 136* 111 9 19 61 30 76 43 121* 61* 57* 30* 44* 18* 62* 89* 169* 39* 133* 149* 298* 106* 41* 44* 110* 55* 108 111* 42 90* 270 28* 81* 112* 145 35 34* 146 17* 34* 39* 119 33% 140 63* No sale. 147 132 No sale. 20* 13* 56* 39* 13% 9 44 23 186* 151 No sale. No sale. 63 45 160* 136* 22* 14 24* 16* No sale. 28* 27 63 33* 143* 117* 59 42* 38% 25* 21* 15* 76 45 115* 99* 46* 37% 111* 9!)% 137* 110% 54* 35 139* 118* No sale. 19 12 161* 134 09* 74* 34 22% 08* 43% 72 59% 192 125* 126* 104* No sale* No sale. 33* 24% 75* 61* 17* 15 50 30* 74* 63 4% 192* 153* 96 89 11 40* 24 97* 90 48* 30* 82* 50 120* 103 57% 70% 18* 4f)% OH 84* 71* 79 68* 38 43* 5* 14* 48* 173 5 135% 45 62* 141* 20% .21% 62 19% 34 185% 206* 113* 52* 163 26 28% 73* 31* 47% 161 60% 36* 23* 76* 121* 41% 114* 125* 55* 126* 200* 21* 179% 85% 30* 59% 77* 194* 115* 27* 56* 31% 76* 29% 63* 47* 113% 111% 17* 175% 93% 22* 61 41 104 67* 73* 113% 65* 57* 9* 22* 64* 86* 81* 60 53 11* 9o% 49% 45* 18 31% 4% 42 67* 123 26 114% 137% 241* 101* 25* 34 103* 54* 102% 101* 27% 76% 226* 16* 68* 102 134* 25 23* 138* 10 28 30* 155 4 126 .'it; 57 120% 18* 16% 53% 9% 24* 155* 156* 105* 43* 149* 17* 23* 62% 26* 35* 139* 51* 28 18* 50 106* 34 107% 115% 47 122* 167 16 148% 64* 22* 48 68* 140 105% 24% 50% 26* 68* 16% 55 34* 81 98% 4% 160 90 13 50 26 95 45* 58* 107% 52* 47% 6 16% 55% 79 66* Amal. Copper 1 Am. Beet Sugar Am. Can Am. Can pfd Am. Car & Fdry Am. Cotton Oil Am. Ice Sees Am. Locomotive Am. Malt Am. Malt pfd A in. Sniolti ng Am. Snuff Am. Steel Fdry Am. Sugar Am. Tel. & Tel Am. Tobacco Am. Tobacco pfd. new.... Am. Writing Paper pfd... Anaconda Atchison Baldwin Locomotive Baldwin Locomotive pfd.. Baltimore &- Ohio Bethlehem Steel Brooklyn Rap. Trans Canadian Pacific Central Leather Chesapeake & Ohio Chi.. Mil. & St. P Chi. & Northwest Chino Con. Copper Col. Fuel & Iron Consolidated Gas Corn Products Distilling Sees Erie Gen. Electric Co Goldfield Consolidated.... Great Northern pfd Great North. Ore subs.... Guggenheim Exploration.. Illinois Central Inspiration Copper Inter. Metro Inter. Metro, pfd Internat. Paper Internat. Pump Lehigh Valley R.R Liggett & Myers Tob. Co. Liggett-Myers Tob.Co. pfd Long Island Louisville & Nash Mercantile Marine pfd.... Miami Con. Copper Mexican Petroleum Mo.. Kan. & Tex Missouri Pacific National Biscuit National Lead Nat. R. R. of Mex. 2d pfd. Nevada Con. Copper N. Y. Air Brake N. Y. Central N. Y.. Ont. & West Norfolk & West Northern Pacific Pacific Tel. & Tel Penna. R. R P. Lorillard Ray Con. Copper Reading Rep. Iron & Steel pfd.... Rock Island Rock Island pfd St. L. Southwest pfd... Sears Roebuck South. Pacific Seaboard Air Line Seaboard Air Line pfd.... South. Rwy South. Rwy. pfd Standard Milling Standard Milling pfd Tennessee Copper Texas Company Underwood Typewriter Co. Union Bag & Paper Union Pacific Union Pacific pfd US. Cast Iron Pip** & Fry. U.S. C. I. Pipe &- Fry. pfd.. U. S. Industrial Alcohol... IT. S. Indus. Alcohol pfd.. IT. S. Rubber U. & Steel 2 U. S. Steel pfd Utah Copper Va. Car. Chem Wabash Wabash pfd West. Maryland West. Union Tel Westinghouse Mfg -Wrpk rndiTtg Juno IS High. 80.% 75% 37% 110% 591 s 53% 27 42% 18* 62% JV.'n 1 06% 37 133% 146% 296 105* 37* 44% 107% 55* 108 100 37% S9 260% 26% 78% 105 135% 35 33% 142 15* 33% 35% 171% 4% 134 42% 62* 127% 20 20% 58U 18* 25* 175% 205 113* 52* 158% 18% 28% 68% 2s% 37* 156* 57% 31% 22* 70% 119 37% 112* 120% . 51* 124% 195 21% 172% 70% 25 ?j( < ? 101% 1111% 25* 55% 28* 74 29% 63* 45* 111 HO 1-'% 170* 90% 22% 61 41 103% 64% 70% 111% 64* 51 7% 18% 58 83% 74* I^>w. Clour. 83* 73 ?2% 116 58* 51% 25% 41% 14% 58% 83* 158* 36* 13o* 14.".* 289 103% 36* 43% 1 o5 ? h 54% 107 107% 35% 87% 262* 24% 70% 102 134% 32% 29% 140 15 32% 34 168* 4?? 132* 4i>% 126% 19% 19% 57% 16 25 170 198 111% 50* 156% 17% 27% 05% 27* 36 150 56% 30% 21% 74% 117% 34 111 118% 40% 123% 190 20% 163% 78% 23* 48% 75% 188 108% 24% 54% 27% \3% 62% 42 109 106% 11% 106% 9?> 21 57* 38% ltr2* 62% 67* 110 62% 47% 6% 16% 57* 82% 84* 74* 32% 110 ? 58%? 1* * * *% ??% 20%? 41% - 17*1 01%+ 81 ? 160 ? 37 + 13s ?%? 145%? 292 ? 103*? 30%? 43%? 1<?6%? 54%? 108 + 1?'7%? 30%? 1% 88 204%? 24% 7?'.%_ 102%? 135%? 34 + 32 + 141 ? 15 ? 32% 34 ? 109%+ 4%? 133 ? 40%? 2 i i% 4% u, 1% % 3% % % 1% % % % % % % 0 * % 3% 1 % % % % % * 1% 6i?%+ 3% 126*- % 19%? 10% 57%? 16%? 25 ? 170*- 3% 204%+ 1% 111% + 52*+ 156*? 18*? 28 66%? 27% ?37 + 156 57% 30*? 1% 1% 1 1% % ?i % % % 1% 3% % % 1% 74*+ 117%? 34%? 111 %? 119% 49%? 123% 190 ? 20*? 104%? (!% 79%? 24% 49% 75%? 180*? 109*? 24%? 54 V 28% 74 ? 29%? 63 + 44% 111 + 107%+ 12 ? 107%? 90%+ 21%4 57%? 30*4 1"3%+ ?W%? 0.8% llo%_ 03%? 48 ? 0%? 16%? 57%? 82% 73 X' % % 1% % % * 1% 1* % * 2% ?> "% 1% 1% % 1 rz % % i% i l i% % * 3 % 1% 1% 1 for gloom. Hosts of reasons there are for anticipating what will bring larger business and larger business profits?and natural and corresponding gain in finan cial sentiment. What may be equally true, however, is that we are to have a summer of dull ness?and that such improvement as may appear will have to bide a while before it is translated into anything like a buoyant stock market. It is a time to hope?and wait. KANSAS CITY CATTLE. KANSAS CITY. June 15.?Cattle?Re ceipts, 800 head, including 200 southerns; market steady; dressed beef and export steers, 8.25a9.25; fair to good, 6.75a8.l5; western steers, 5.75a8.75; stockers and feeders, 4.25a6.75; southern steers, 5.50a 8.25; southern cows, 3.50a5.50; native cows, 3.00a7.00; native heifers. 4.75a8.50; bulls, 4.00a6.50; calves, 4.50a8.25. Hogs?Receipts, 2,000 head; market steady to 5c lower; bulk of sales, 7.25a 7.45; heavy, 7.45a7.50; packers and butch ers, 7.25a7.45; lights, 7.00a7.35; pigs, 5.75a 6.75. Sheep?Receipts, none; market steady; lambs, (J.00a8.75; yearlings, 5.00a6.25; wethers, 4.00a5.00; ewes, 3.75a4.25; stock ers and feeders. 2.75a4.00; Texas goats, 2.75a3.25. CHICAGO CATTLE. CHICAGO. June 15.?Cattle?Receipts, 200; market steady to strong. Beeves, G.20a9.40; Texas steers. 6.60a8.25; western steers. 6.60a8.30; stockers and feeders. 4.."50a6.80; cows and heifers, 2.90a8.30; calves, 5 50a8.50. Hogs?Receipts, 11,000; market weak, 5al0c lower. Light. 6.95a7.37^4; mixed, 7.C5a7.45: heavy, 7.00a7.45; rough, 7.00a 7.15; pigs, 5.10a6.80; bulk of sales, 7.30a 7.40. Sheep?Receipts. 7,000; market steady. Native, 3.25a5.10; western. 3.50a5.15; yearlngs, 4.75a7.00; lambs, native, 4.25a 8.00; western, 4.50a8.00; spring lambs, 5.25a9.00. CONDITION OF TREASURY. At the beginning of business yesterday the condition of the United States Treasury was: Working balance in Treasury offices, $03,762,653; in banks and Philippine treasury, $35,280,626; the total balance in general fund was, $12!?, 183,678; ordinary receipts yesterday were, $2,694,306; ordinary disbursements were, $2,850,754; the deficit to date this fiscal year ia $2,665,666, as against a surplus of $9,977,761 at this time last year. These figures exclude Panama canal and public debt transactions. COFFEE FUTURES. NEW YORK, June 15.?Coffee futures opened steady at a decline of 2a4 points under scattered realizing. The European cables were steady and the Brazilian news suggested continued firmness in the pri mary markets, but offerings here were comparatively heavy following the ad vances earlier in the week, and tjie close was steady at a net decline of 4a" points. Sales, 34.000 bags. June, 13.5H; July, 13.62; August, 13.71; September, 13.81; Oc tober, 13.84; November, 13-88; December and January, 13.92; February, 13.88; March, 13.94; April. 13.95; May. 13.96. Havre, % franc higher; Hamburg, un changed to Vu pfennig higher. Rio un changed; Santos firm. 4s 150 reis higher at $8,700; 7s 50 reis higher at $7,850. Bra zilian port receipts. 15,000 bags, against 2l>,000. Jundlahy, 9,000, against 9,?XX>. Warehouse deliveries 8,073, against 10,608 last year. Spot coffee steady. Rio, 7s 14%; Santos, 4s 16. Mild coffee quiet; Cordova, l?a 18*4 nominal. NEW YORK METAL MARKET. NEW YORK, June 15.?The metal mar kets were dull and practically nominal. Lake copper, 17Vjal7^; electrolytic, 17Vi; casting, 16%al7%. Iron steady and un changed. JOINTLY TAKE STEPS TO BREAK WINANS WILL Son and Son-in-Law Say Bal timore Millionaire Was Incompetent. Special Cablegram to The Star. PARIS, June IB.?Thomas Ross Winans, son, and Prince H. Galard de Pearn, son-in-law of the late Ross P. Winans of Baltimore, have joined in a legal effort to break the Winans will. The son had offended Mr. Winans by marrying a beautiful Spanish dancer, and was cut off with the income from $200,000 out of an estate estimated at more than ' $4,<?00,000. Prince de Pearn married Miss Beatrice Winans, who died in 1907. Their two children were left practically nothing by their grandfather's will. But recently the American courts have sustained the Drlnce's preliminary steps to contest the will. Son and son-in-law jointly allege that Ross Winans was mentally incompetent. They assert that the elder and younger Winans put up at the Hotel du Rhim on the Place Vendome, here. The father demanded that his son render a daily ac count of his expenditures. One item read: "Six cents for newspapers." On which Winans senior sent by special messenger to his son's room across the hall a writ ten denunciation of this "extravagance." Paid for Vacant Booms. But, about the same time, some rooms in the hotel were being renovated and the workmen made a terrible din. The father. Infuriated, made the hotel man ager stop It, and when the manager ex plained that the repairs must be mad? Ross Winans retorted: "Close the rooms and < .large them to me." That, says young Winans, meant an expenditure of $9,000, $100 a day for three months, a^ compared with the "ex travagance" of six cents for newspapers. Young Winans asserts as other proof that his father's mind was unstable, that even in the dog days he wore Rus sian furs fit for an arctic expedition. Young Mrs. Winans and her children are living at 42 Rue Pachet, near the Polies Bergere. They have so little money that her sister, the Maharanee of Kapurthla, does most to support them. FRUIT MARKET. NEW YORK, June 15.?Evaporated ap ples quiet and steady; on the spot fancy are quoted at 9*4al(H4; choice, 8a9; prime, 7V4a.~%. Prunes^Steady on further talk of a better export demand; quotations range from S^iaOVa for Californias up to 30-40s and 6%a2>% for Orefions. Apricots?Firm with evidences that stocks have been much reduced; choice, 11^4al2; extra choice, 12al2%; fancy, 13 al4. Peaches?Quiet and unchanged; choice, 7\aK?4; extra choice, 8aS%; fancy, S^alO. Raisins?Dull and barely steady; loose muscatels, Ra(%; choice to fancy seeded, f??ia6V*: seedless, .V/fcaG^; London layers, 1.40al.45. Fail to Steal Motor Vehicles. Mackall Bros., druggists at Oth and H streets northeast, told the police last night of an attempt having been made to [ steal their automobile delivery wagon and touring car Friday night. The lock was forced from the door of their garage, the i police were told, but the robbers made a I I failure of their attempt to steal the ve hicles. ] FINANCIAL. FINANCIAL. l-totii An Equal Chance In spite of all campaign orators may say for political purposes, every man in this country has practically an equal chance to get rich. The great majority of men who are today possessed of big fortunes started with little or nothing; they simply took advantage of the op portunities that are offered to every man. There is no mystery about making money. It is simply a case of saving money and making that money earn more for you. You can do it just as well as anybody else. The accommodation and help of the savings bank are offered to you just as freely as to the millionaire, and, though you may not be able to save a great deal each week out of your earn ings, you can surely save something. If you persistently add a small sum to your account each week it will soon grow to goodly proportions. The bigger it grows the faster it will grow through the 3% Compound Interest We pay and in a few years you can be in the capitalist class yourself. This is the way others are getting rich and is the way you can get rich. Home Savings Bank, 7th St. and Mass. Ave. N.W. Branches: 7th and H Sts. N.E. 436 7th St. S.W. Under U. S. Treasury Supervision. s=2 1 I g ? ? *3 Ml NEW YORK PRODUCE NEW YORK. June 15?Flour?Quiet and nominally lower. Spring patents, 5.00 a5.90; winter straights. 5.15&5.25; winter patents. 5.40a5.60; spring clears. 400a 4.90; winter extras. No. 1. 4.30a4.50; winter extras. No. II, 4.10a4.20. Kansas straights, 5.l0a5.25. Receipts, 29,300 bar rels; shipments, 3,511 barrels. Rye flour ?Quiet; fair to good, 4.80a5.00; choice to fancy, 5.10a<5.25. Cornmeal?Steady: fine white and yel low, LTOal.75; coarse, Ii55aiy70; kiln dried, 4.25. Rye?Nominal. Barley?Quiet; malting, 1.15al.25 e.l.f. Buffalo. Wheat?Spot, easy: No. 2 red, 1.17 do mestic basis, and export 1.17 f.o.b. afloat to arrive; No. 1 northern Duluth 1.22 f.o.b. afloat. Futures market was easy under further heavy selling on continued good rains over the west, and reports of improved crop conditions, but prices ral lied late on covering, closing unchanged to % net lower. July 1.12%al.l2 15-10; closed, 1.12*fe. September closed, 1.09*4; December closed, 1.09%. Receipts, 146.400 bushels: shipments, 4,503 bushels. Corn?Spot, easy; export, 81*4 f.o.b. afloat to arrive. Receipts, 1,125 bushels; shipments, 834 bushels. Oats?Spot, barely steady; standard white, 60?? in elevator; No. 2, 01; No. 3. GO; No. 4, 59^; natural white and white clipped. 60a64 on track. Re ceipts, 35.075 bushels; shipments, 1,652. Hay?Barely steady; prime, 1.55; No. 1. 1.50; No. 2, 1.40al.45; No. 3, 1.20a 1.25. Hops?Steady; state common to choice, 1911, 30a45; old, 14a22; Pacific coast, 1911, 40a43; old olds, 15a25. Hides?Steady; Central America, 24^4; Bogota, 24a25. Leather?Firm; hemlock firsts, 25a 27; seconds, 24a26; thirds, 21a22. Re jects. 15. Pork?Qniet; mess. 20.50a21.00; fam ily, 20.00a21.00; short clear, 19.25a21.00. Beef?Steady; mess, 15.00al5.50; fam ily, 18.00al8.50; beef ham%. 28.00a31.00. Cut meats?Quiet; pickled bellies, 10 to 14 pounds, 11 all*4: pickled hams, 12^al2%. Lard?Easy; middle west prime, 10.50 al0.60; refined easy: continent, 11.25; South America, 12.10; compound. 8% a 9%. Tallow?Quiet: prime city hogsheads, 61*; special, tf?i; country, Cottonseed oil?Barely steady: prime summer yellow, spot. 6.80.a7.15; June. 6.80a&9&; July, 6.89a0.91; August. 6ft"a 7.00; September, 7.07a7.10; October, 7.07a 7.?8. Petroleum?Steady; refined, New York, barrels, 8.00; refined. New York, bulk, 5.00; Philadelphia, barrels, 8.00; Phila delphia, bulk, 5.00. Wool?Quiet; domestic fleece, 28. Rosin?Quiet; strained, common to good, 6.50a&60. Turpentine?Steady; machine, barrels, 4a Rice?Firm; domestic, 33ta6; patna, 6'ia 0*4. Molasses?Steady; New Orleans, open kettle, 35a50. Raw sugar?Barely steady; muscovado, 80 test. 3.36a3.42; centrifugal, 96 test, 386a3.92: molasses sugar, SO test, 3.11a 3.17. Refined, quiet; cut loaf, 6.00; crush ed. 5.W0; mold A, 5.55; cubes, 5.45; XXXX powdered, 5.35; powdered, 5.30; granulated, fine, 5 20; diamond A, 5.20; confectioners' A. 5.05; No. 1, 5.05; No. 2, 5.00; No. 3. 4.95; No. 4. 490; No. 5. 4.85; No. 6. 4.80; No. 7. 4.75; No. 8. 4.70; No. 9. 4No. 10. 4.00; No. It, 4 55; No. 12, 4.50; No. 13. 4.45; No. 14, 4.45. Potatoes?Steady; European, old, per lt?> pounds, 1.00a75. Cabbages?Weak; southern, new, crate, 50a 1.75. . Freights ? Barely steady; grain by steam to Liverpool, 2d. Peanuts?Unchanged. NEW YORK CATTLE. NEW YORK. June 15?Beeves?Re ceipts, 95 head; feeling unchanged; dressed beef firm at 12 to 13H Calves?Receipts. 213 head; feeling steady; city dressed veals, 12 to 15; country dressed from 11 to 13V4 Sheep and hambs?Receipts. 4,981 head; sheep and prime lambs steady; others weak; sheep sold 3.O0a4.50; lambs, 8.50a >.75. Hogs?Receipts. 2.0O5 head; feeling nominally steady. % Some Logical Reasons For opening an account in NATIONAL METROPOLITAN BANK Opposite U. S. Treasury. Oldest National Bank in Washington. In the arrangement of our bank ing room liberal provision has been made for the comfort and conven ience of our patrons. We invite an inspection. The vault alone is worth a visit. (More to follow.) *U'l 0 > to loan od approve.I ri'r teal estate ?emrltv 1. HKIVK^'' ? - Money to Loan. Secured by First Deed of Trust on Real KlUI*. Prevailing Interest and commission. Joseph I. Weller, 602 F St. N.W. CHICAGO PRODUCE. CHICAGO, June 15. ? Soaking rains throughout the northwest, including the spring crop country beyond the Canadian line, made a lower market today l"r wheat. Despite week-end covering. the close was easy, % to "VaVs down. Corn finished at a net loss of V* to %. 1 >4 to %. and provisions at a decline of :,a7V.. to 25. A lit>eral volume of business was done in the wheat pit. as compared with re cent totals. Liquidating sales formed the order of the day as to ail futures, but there seemed to be an especial disposition to run away from the Juiv delivery. On the other hand, brokers commented on the fact that buying orders which wcr? given late yesterday for several million bushels of September wheat at 1.04, anil which for the most part could not be tilled, were not in the market today. Cutting of wheat was reported ?? hav ing begun in southern ansas. Ir was stated that a good deal of the new crop might be expected to move north vei \ soon and be hedged In Chicago, making a much heavier load for the speculative trade. September ranged from 1.03% io 1.04V*. with close 1.03%, drop of % from last night. 'Corn weakened on account of well p?o portioned moisture and warmth. Later .t falling off in country offerings helped to steady the market September fluctuated between 71V* and 72, closing V* net low. r at 71%. No. 2 yellow was quoted at 75 a75V*. , Bearish action of other grain affr-<u?<l oats The crop was reported as almost at the heading stage in parts of Indi na and Illinois. September ranged from 4<*Si to 40%, with last sales V* under last night at 40Vj. An expected larger run of hogs n^M. week had considerable effect in pulling down provisions. At the end of the <ia* pork was less costly by 22Vi to 25, and the rest of the list off ."VaTVt to 12Vs. COTTONSEED OIL. NEW YOfRJC. Jt/ne 15?The cottonseed oil market was easy in the absence of de mand and In sympathy with lard and cot ton. The weakness In grain also influ enced prices, but moderate <-overing checked the decline. Closing prices were 1 to ? points net lower, rune. 6.*?aH.lV?; July, 6.??att.Jn; August, ?.Wa7.<m; Septem ber, 7.m?a7.10: October, 7.07a7.?JK; Novem ber. fl.63a6.05; prime crude nominal; prime summer yellow, 6.80a7.15; prime ?winter yellow, 7.00a7.80; do., summer white, 6.80a7.80. To Build Life-Saving Stations. The contract for the construction of tli<? Poyners Hill ?nd Nags Head life-sa.vlnK stations in North Carolina was awarded by the Treasury Department today to R. J. B. Newcombe, Manistee Mich., at $16,777, lowest of five bid*. t