Oakland Tribune from Oakland, California · Page 24

ST. WEDNESDAY EVENING OaklanU Cti&une - . APRIL, 11, 1923 V aWaasajeisVsiassVt "",, Ji ::elv advances i;j SILK PRICES EXPECTED SOOT. Dcjpite Plentiful Supply of Haw Material Demand la - Gaining Daily. V f OlfgOtlBATED MESS " - -grECIAl TO THE TBJBUHE, KEW YORK, April 11. Th up-plyply of silk 'available for manufacturer 'la th United State, today la nearly normal. But the demand is far above normal and, there ia very Indication that prlcea, now at the highest point, in three yeari, will go even higher before the new cocoons are apun July 1. ".-',-. ' A. B. EUlman and Baaeh, large raw ailk importer and dealer. In ' outlining; the situation declared that they would not' be surprised If price: were, to hold up even after the new supplies became available. Improvement In the poaltlon of raw llk may be estimated by com-parlaon of price, today . and those of April 9, 1922. Ort that date 18 -mi and tO-iJ denier was quoted at 16.58; beat No. 1 X at $125; Kan- sal No. 1 at S8.1S and Canton 14-1 at $6.60. Today price approximately arc 19.15, $9.15, $9.10 and IS.7I for the aame grades. BUIIiDIKO AIDS SIMC 'The trsmendossly lnereaaed demand," . aald Mr. Elllman. "Is due not only to the demand of silk foods manufacturer but to the volume of building eonitruotlon. The number of bale required for lnsu-: .tlon to telephone and radio wire ha increased to a remarkable degree. Thl neaoaa only be filled by real silk, f "The growtl of the artificial llk industry has been enormous but this has not served to lessen us of the real product in tbe slightest de-greet. If artificial silk had not become popular the demand for silkworm produot might be greater but aa It is, consumption in this country is growing' beyond present available . supplies. .. . . ' . , '. '; "The prosperous condition of the finished silk industry is due in part, of course, to the natural lnoreai in population and also to, the high er purchasing silks in greater quantities than ever before." . RESERVES USED IP. Bilk association figure show that on March 1 there were 44,818 bales In principal warehouses. Import for March amounted to 28,15 bales, making a tota. of 72,951 bales. Stocks on April 1 amounted to 89,-438 bale whloh show the extent to -vhlch reserves were absorbed. During March 33,815 bales wero delivered to. American mills, or SIT more bale than, were Imported. Imports in 1913 amounted to an average of 88,010 bale a month and not much more than that amount can be counted oh thl month. In 1913, 1.656,000 pound of artificial allk were produced and the, extent to which output of this product, has grown Is shown by the figure for 1923 which totaled 34,408,000. ' WEAVERS SHOW PROFITC ' Stores which have never handled high priced good before now, are stacked heavily with silk good and the cloth manufacturer In general are In splendid posltlpn, The profit f the Malllnson Company are expected to exoced those of 1923 and the earning of the Julius Kayser Company for the flsoal year ending next August 31 probably will establish a high record for that concern, if Inventors are listed at a eern, if inventories are listed at a the inventory value of silk at $3 a pu- below the current quotation, Company for the lx month ending March 1 were at the rate of more than 820 a' share annually on the ommon atock. . ; Tobacco Rivalry Seen in Big Deal , FEW YORK. April 1 Th po-lbillty of a merger of h American Tobacco Company and the Schult Retail Stores Corporation was dls-ussed following the announcement that the American had purchased a substantial stock interest In the chult Store. Interests In close touch with the two companies denied, however, that formal consideration had been given to plan for consolidation, with Schult Stores acting aa a retail distributing agency for American Tobaooo products. In other quarters the action wa regarded at the first step In amove whereby . the American Tobaoco Company, through atock purchases, would gradually obtain control of the Schulte retail organization. Officials of ths companies declined to repeal the amount of rLock which, had been transferred In the recent deal, the purchase price or the term f the transaction. : The only Immediate direct beaeflt of the deal, it was explained, would be the expansion of the company. This program was mapped rut, according t reports, in the financial district to keep pace with the expansion, of the United Cigar Storea. 'The Schulte Retail Stores Corporation has 300,000 shares of common stock of no par value and 1,000,000 preferred atock. In addition, to its 850 retail atoreslt op-crates three cigar factories, which manufacture most of the high grade cigar that It sells. N, P. to Spend Million on Lines PORTLAND. Ore,: April 10. -Improvement costing $5,000,000 have been authorised for 1928 on Northern Pacific Railroad lines, according to announcement reoelved her by district officers of the company from R. W. Clark, assistant to the president of the system, v . ' E. F. Hutton & Co. OAKLAND OFFICE ' HOTEL OAKLAND . TtLLakeMtW , ''. atEktBERS . .1" v" :, ':, TOHK COTTOM CCHaXI . E VOUS COFFEE EXOHANOf - ftSXEAJiS COTTOS EXCHASOI nvforioL COTTON ASSOCIATION CAPO board r TBADS tux voag stock bxchanss , I : a- VTire Coast lo Coast By H. Public Interest again appeared be lacking at the opening of today's stock market, initial change being narrow and irregular. . Pressure In tb oil shares Jras founded on re port of a cut of 25o a barrel in Pennsylvania crude price. Do pont advanced a point to 133 and fractional improvement '. wa noted In. most of the steel chares. Heavy offering of the oil shares continued during the first half hour. Losses of 1H to 2 V, points wr recorded by California Petroleum, PaBrAmerlcan. Phillips Petroleum, Marlahd. Houston, - Producer and Refiners, and. General Asphalt. Standard OH of California, dropped to a new low for the year, Amer ican Woolen and American Can also were conspicuously heavy; Ameri can Cotton OH advanced 114 and the preferred 3 on report of an early merger of that company with jt wo other large companies In the same Ylclnlty. : -'v't-' Foreign exchange opened firm. Demand Sterling wa quoted around $4.65 and French franc advanced point to 6.68 cents. . Some of the losses In the oil group were extended to three points before the selling pressure subsided. When It became evidence that the selling was not causing any extensive liauldatlon In the balancs of tbe list, speculator for the advance began to send op speolai stock with Induced covering operation opera tion by the Short Interest. General Electrio wa pushed UP IVt points and Canadian Faolfle, Con solidated Gas, Mack Truck ana Martin Parry sold 1 to ltt point higher. Oil share rallied to 1 point but met fresh selling on the rally, California Petroleum dropping '" 3tt point below last night' close. Call money opened at, per centV . , Closing ' out of weakly margined account In the oil share threw a considerable amount of additional stock on the market and eeveral mor of the group lagged to new low prices for th year, with losses running from to 4 point. Weakness in the general list showed in sdoOs. Baldwin. Studebaker. Ameri can Can, Republic Steel and United Retail store yielding freely. Petroleum atock were under fire on the curb, Pralrl Oil having the widest range and falling 14 point to around 211 on a few sales. Stand ard Oil of Indiana wa traded In on the largest scale, over 30,000 share changing hand In the morning, and austalned a further loss of over 1 point to 61, new low for reoent trading. Kentucky yielded 1 point to 96V4. VaouumOli:wa a firm feature and after selling at BOH advanced 1 1 point California Petroleum was Influenced' by the decline In the present took, on the New York Stock Exchange .and yielded, 1 point. : Cities Hervloc -fell 4 point tA 168, Independent oil stocks generally showed fractional losses. There wa a bear ; demonstration aganlst Pennsylvania Beaver, which was forced down sharply during th forenoon, but offering were quick' ly absorbed and it wa generally understood that a large short Inter-eat had been created. The decline In Pennsylvania crude and in east em light grade wa considered by many of those conoerned In the) in dependent oil stock a temporary with more attention paid In thoss quarters to fear of. depletion than over nroduatlon. Industrial Issue war influenced by th unsettled condition In th oil group and some of those stock also showed losses. - Mlnlnr atock continued active. Corte wa in demand on report of progress of development work; . e . ... , WlLlTS OVERLAND TO PAY PREFERRED BACK DIVIDENDS. Back dividends are to be paid soon on the Willy Overland preferred ' atock, it I reported. Th amount of the distribution ha not been fixed. Business for the first quarter set a new record, showing an Increase -of three and ens-halt times over the first period last year, aocordlng to a statement Issued by John Willys, president of the com pany. He declared that the entire business for 1923 would be surpassed by May, this year. e ' HIPMOB1LE SALES SHOW GREAT GAINS. Sales of Hupmobilea for the first three months of 1929 wers nearly double those for the best previous first quarter, materially exceeded those for the record three months' business . of April, May and June, 1922, and March sales were the greatest of any single month In the 15 yeare of the Hupp Motor Car Corporation's history. Sales for th quarter totaled 13,084 car on a yearly ichedule of 40,000, compared with 6399 for the first three months of 1923 and 11,290 tor April, May and June, 1922. Sales for, last month were 5024, eclipsing the former monthly record sal by 1000 cars. e SOUTHERN RAILS SHOW GREATEST IMPROVEMENT. The southern road continue to show the largest margin of Improvement In earning power among the railroads, February reports show. In 1921 this group of carriers suffered a very severe decline in Income, owing to the drastlo cut in : cotton' prices' and the resulting etbnomto hardship In that region. With the diversification of- industrial activity in the cotton belt, however, observers look for a stabilisation of earning power which will go a long way toward "bettering the condition of these carriers, especially Insofar as the weaker roads, such as Southern Railway, are concerned, 1928 result to date have borne out thl trend. ... CALIFORNIA INVESTMENTS KEEP VP THEIR FACE. ' ' While the volume of California corporate bond financing In February waa leas than half that for the banner month of January, nevertheless, according to Cyrua Pelrce ft Company's monthly computation it amounted to $14,570,000, which was equivalent to 10ft of the total of such Issue for the entire United State. In other words. California bond houses offered and California Puts Investigate the advan-tea, aad sseaey-aaakla MMibilitie ef this vehiabU and m mm mtMet etetrabaav l.a'lll nmtn ai Meri.W i (A. 140-112Swllleantr 100... kMedea (ke N. Y. Stock Each. Move ef B pointa frn mttivm srica (Was fM oortuaity ef takins 3SOO prafitt t oiaUiOO.ae. Wnhfnfntclrcmlar. R. PARKER CO..M Bread St.New York S. SCOTT. tol Investors .'absorbed In February more than three time the states theoretical proportion (3.33) - of corporate securities. Thl percentage ha only been exceeded In three previous month covered by Cyrus pelrce ft Company' record-. In the February total ar Included $8,000,000 of publlo utility bond aa compared with only $1,580,000 in February, 1923. On the other hand, th volume of Industrials, $6,570,000, Is less than ' the average for 1922 and compares with $10,250,000' in February,, 1922. ., - i . -, Compared with the country aa a whole, th California utility Issues amounted to 14.10,.-a- percentage surpassed only in two previous months and even the comparatively low total of industrials bonds amounted to nearly i of all the issues of that class In the United States. - r -; .- , . The following 1 th summary for February aa compiled by . Cyrus Pelrce ft Company: v. , Publlo utility issues in California, $8,000,000: Industrial issues In Cali fornia. 86.67e.ooo: total California Issues, Ii4;70,uuu, - Publlo utilltv issues outside of California. 34f.706.000: Industrial Is sues outside of. California. 75,sz&,- 000: total outside Issues. 3124, sat AAA - .. : ' Total utility issues, i5,70,ooo; total industrial issues. $82,895,000; total of all issues. 8139.101.000. Percentage of California utility issues to all Issues. 14.10: nercen tag of California industrial to all industrials, 7.97; percentage of California Issue tototal , ot ootn olasses, 10.47. BERKELEY BOND HOUSE BUYS XUAtO0 VARU BOND ISSUE. '. An Issue of $226,000 7Vs P' cent bond on th Stewart Irrigated Farm in th San Joaquin Valley, ha been purchased by th Security Bond and . Finance Company ' of Berkeley and 1 offered to yield 714 per cent to Investors. -. These bonds secured by 2560 acres ef fertile, irrigated farm land ltu-ated in Fresno county, California, in th Newman-Los Bano dairy district,, and about four mile from th tatlon of Cos Palo on th Southern pacific Railroad. The land have been appraised at $612,000.. ' - " o-V OIX OPERATORS OPEN . ? BA STRAY OFFICES. , ?'-. : - Fred B, ..Foster and Company, large oil operators In th Signal Hill district in th southern part of th stat and In new and promising field in Texas, will open office in th Hutchinson . building , at , th northeast corner" of Seventeenth and Broadway, . tomorrow, - : The house ha maintained office in Ban Francisco for some time and it coming to th Eastbay region 1 promoted by a desire , to respond to a constantly increasing business In this Urrltory. ; ; . , L 'vV-e " " ; W Oil, WELtS ' ' , STARTED PURIJiO WEEK. i Oil i field operation reported . to Stat Oil and Oas Supervisor 11. K. Collom during the week ending April 7, show 86 new well started, as compared with 30 during the pre vious week. Th total new well this year is 453, a compared with $46 th same date last year. ' Test , for water shut-off this week i numbered 86, as compared with 49 during th previous week. Yearly total to dale 517; total to same date last year 394. ' Deepening or redrllllng Job this week numbered?, aa compared with 11 during the preceding week. Total to date thl year 198; total to sam date last year $18. ' Abandonment thl ' week num bered 4, as compared with 8 during the preceding week. Total to date thl year 60: total to same date last year 33. COAST OAS ASKS PERMIT TO MERGE CONTRA COSTA. Th Contra Costa Oas Company is about to pass Into th hands of the Coast Counties Oas Company operating in th Ballnaa Valley. Today both corporation filed application with the railroad commission asking approval ot th deal. The Contra Costa Company 1 to aell to th Coast Counties Company, preferred stock of th-latter being exchanged for capital stook ot th former. DIVIDENDS. S. H. Kress Regular quarterly ot 1 per cent on common. j , Remington Typewriter quarterly of 35.25 on the first preferred. Burn Brothers Regular quarterly ot 33 and extra of (0 cents on class A common; regular quarterly of 60 cents on class a common ana regular quarterly Of $1.75 on prior preferred. ,Nash Motor, Car Regular quarterly ot IV per cent. on preferred A etock. ' ' New Cornelia Copper Company- Regular quarterly dividend ot $5 cents. ' Standard Oa and Light Company Initial quarterly dividend ot 62 cent a ehar bn oommon. Cudahy Paoking Company Regular semi-annual dividend ot 3H nr rent on th 7 Der cent pre ferred and 3 per cent on 6 per cent preferred. i - . FINANCIAL NOTES The Sutter-Butt Canal Company ha applied to the railroad commission for, permission to aell 8000 hare of preferred atock and $860,-000 par value of 20-year 8H per cent gold bonds. Cliff Stewart of the Stewart Investment Company, and J.. H. Benin-neller, F. U. Brown ea Company, have been elected to membership in the San Francisco -Stook Exchange. LIBERTY BONDS By Baak ef Italy. - -Price. Vleld. First 3H ..101 I33T First 4448 ......... 97 33-33 4.41 Second 444s ........ 97 17-83 4.44 Third 44 93 18-93 4.68 Fourth 44S 97 37 33 4.44 Victory 3A8 note.-.-.100 .r 4.75 Treasury 4s ..... 99 4.U COTTON. MARKET: NEW YORK; April 11. Professionals were1 sellers at th opening ot the cdtton market today with the result - that list prices war' 11 to 13 points down from last night's close. . Early sentiment wa .still badly mixed With the majority of th bigger operators Inclined to wait for further weather new. The market closed : steady today, 17 points lower to 17 points higher. upt- .. Open, High. Low. V Close. Jan. ...If 27 24.J 24.01 29.41 28.93 138.71 118.38 J5.t 26.S9 25.09 24.78 24.83 29.14 29-f8 Way , . . Z. 2. 85 J"ly ...28.79 Oct. ,..e5.S0 Deo. ,k.84.9S Mid. 3-.35, . 25.6 25. U down. quiet; spots 35 SAN FRANCISCO STOCK EXQMNGE aX '-S,: Special Wire Service to OAKLAND TRIBUNE. Morning Prices Ton. MS. Bid: Ask, Belment w. naah. Bor ... ...1.40 ...10 ... oa Gtiwt Qseea .......... H.llfiX ................ MteNamara ............ MacNamare Cr ........ MMwit Mm Pittsburgh 41 04 : OS 0 04 01 Snobeam fJmnmrler SstberlMd Taoaipeoa Ner c.Hf North star Oriental .. 04 .............. 01 ReMfne 11 Tonomh xtensloe......2.8fi S.0A Tonopak 7 ............ o 07 Cmatlll. ............... 01 At Wt V.nlt .t 1.05 1.10 West Tononah ......... U I Divide IMatrlet. , unmb rractwa ........ Crapkerlack .......... Klor.nce t. ...... ...... Ooldfleld Con ........ A laddie 0 04 Alto ,....,..,,....,.., ot OS Anaex ................. 03 01 DM ' ....I........... Ol " 02 Goidfleld Oreat Bead Orandma ArcestlB Ol M Belcher 41 Oreat JiiDibo Extea Kewaoaa Xemm star . . . K.icn.r exmmiob ..... oa 04 Ben Hnr nz 03 Hen liar Elteoiloe...... 01 02 Red Hills Handatorn stlrer Pick Spearhead . Rerl 02 03 RroiiKb.r 02 , W Htttre Vl'ifl ........... OS Olrlile City ............. ... Dlrlrte. Extenaloa 11 tlta ma ....... Andes ... .. inviee TODooaa Plrlrienfl Jl.,,.. B plrld .............. Flor.nce 81 Or! Beat A ' , Ol Bu llloo ' OS Caledoala fhollar . (limit ... OoM it 02 02 08 com Kiirer , Con Virginia Onlil Zone Qiriilamitk irl Goald nrlme Harm I II Hale ft j ttaf tee laahrauck Hercules , i is 09 ng Mexican Onblr . Hla-b nifrid Hull Otr Kernlck ... Kern tone Knox ...... l-nt-kr ,Br , fame ...... Mtra ...... Keratfs .... "otoal ' ,...... .... Karaae Hoorvlnn He Beleber .....m... 02 OB 02 t 1 4 04 OS -413 00 01 0 03 sierra Netada colon .... Blah W O. N Dirld Extea... .m .... Bnllwbscker Climax nortnwesc Onerator . . faj uirlde ............. Knreka Eureka Boreka Bam San Francisco Stock and Bond Exchange Special Wire Service to OAKL AM)TRIBUNE. " Momiag Pricej. W. lake BTJBOXIJa eoubj svaua. American Psetors .........102M 103U Bay foa Power oa J" Cal Cent Gss and Bite 6a...... .. 109 Cat Bles flea Co ns sA 03 . .. Cal G AH slf .. SS.jf..-. Cs O as S ten mt ana eoi ns.. m mi California Hawsilan Suxar.... ..105X4 100 ' Cal Or Power A 7W....,.....10m 107 Cal Ore Power B Oa... ...U00 Calif 8t Cable As .....101 Cal T.l and Tel Llxht 6s - 100 ' Cltr Bleetrle 6............r.... 00 .. . City Intestment 01 . 08 Coast Cos V P .. ' rt Bar Water RUs. .......... 98 :; W Plrat red Trott Ss M .. Kiilun i.iht a rower s.. ...... vw .. General Petralenm 7 , 104 108 - Great Western Power Bs. ........ 90V4 .. , Great Western Power aB Ts..... .. 104 Home T T of SDokane. ....... w i h A E'ectrlc 5s........ 90 .. L-.A 11 a E OS. ........... - - A O B Corn 8 .. (.AGAR Corp 7s SA..........102M. . L A O ft R '81 7a...............l04'4 .. I, A Mxhtlna 6s WK X A RlllVlTIi e.a ts so I A hallwar corn OS 79 it h A Pao of Cal 5a........ , 80 A Pae a R Ss " Market St Rnllwnr Ra. .......... 04 05V4 Market St Rallwar Oa 07tt Miller A tux.. 102 102V Nutomaa of Cal , Northern fsl ftallwar 6a Northera Railway Co of Cel.... Northern' Cal Power Ss 100H 071 Northern Cal Power Con 8s, .... 01 Orphrom T R Co 6 974 I'arifle oas tmn 4 . paclfle Ga. st Rleetrie ... Pacific Ji A Klectrlc Rt. ....... 89 90 UNLISTED SECURITIES f Famished by William Cavalier & .? Monin Mess -' Bid: Att Alsmeds P.rai On Ts............ SOM, 00 Aaaoe Oil Co lat rf Bs oou, 100V sr Cos Power Os .....100 101 Rlue iJke Water Co 2d S,...... .. .. Calamba Sntsr Bttate Ss........ ' Csllfornla N W lat 8s.......... 98 87 California Wine Ann Ss. ....... .. ., Cent California Traction St...... .. Coaat Vat Oas Else lat 4Us.. .. . Cio Blec-trle 8a 87 92 ' ("nicker Hotel Co BV4a .ii ii; Da rise ts .....100H 101 Rarl rralt 7Hs 1030 , 101 Knst Bar Water Aa 00 - Bast Bar Water 7s 104., .:i (Ji-seral Petrnlnim a J.lsH 141 (It Weateru Power Co ,.W'i UWtt (it Westera Power 0s '40 99 .. I.t Wsatern Powef Co 0a '38 deb ... , - .. Kolland land Co 1st Ss.......... tlnllr Sntar ts 9 lOf Huntln tend snd Imo Ss....... S .. Imnranee Bicbante ISWs .inott 101 I, A Paclfle 4s 1IR0 78 74 jo Anteles OAS Cta. ....... 4. 97 ! Anteles Oas ss 7U 98 . Mt Whitney Power A Blee a..,1ftTi ., Natomaa. I. M 0a , 98 Osklsnd Terminal 0a Notes t S8W Oakland Transit Ss ,., 94 ... Orpnenia St .. 100 Owl Oriit s Notes. ............. ' i Psclflo I, P ns '41 ft Paelfle t A P 1st ret Bs SO (4 Vt Palacs Hotel 0..., .....100 100 I'etalnms ft taints Boas lat Bs... -Rolnh Not andCoal lat Oa...... TO 81 Sacramento Valley Power lat Os.100 .. Man nirao O ft B '80 Ba.. ...', ,. inn frnclm Dry Dock Bs.... -i S T O ft B 4Hs esllahle 94 St S P O A B 4Us nncsllshle .... SPA San loanula Valley Ba..l00 101 8 Wtt T Ballwar i- flrono 1 8n SS Orotm 3 OrouD S C1U 82 S r Sacramento B R OS. ........ .. . San Joannln LAP 7s 101 10314 Rants Barbara 0 ft B 1st 6a..... .. . Sierra and S P "A" 3d Bs Merra Power B 8s...., TO Sierra Power B 0s 88 .. Sierra Power lat 0a A........... .. with Psclfle Coaat 4s j. (.onthern Cal Cement 8s M 100 Soot I Ubs Wster CO 8 100 Wl ftnnthern Cal Bdlaon 8s J004 loOU inrlna Vslley Wster Notes...... Wit 100 Atamtard Rlectrln Os 1st 8..... 0 t)nltet B R nf q r 4s etra v Westers Psclfle 's Blahts....... 00 .. Vt Sacramente 8. ...... ...... .. rosemlt Vaftey rV B lat Bs.... 88 87 A recent mils of tk Saa Prnrlt- Jttx-k snd Rflod Richame permits the Oakland Trsctlon and Key Route bonds te be deelsnsted la sales by the trou number used la the reort-nntsatlon nlsna CTENBXT STOCKS. Psclfic Portland Cement Co.... H 100 Rlrerslde Cement ( 140 Santa Cms Portland Cement Co. 09 ' 100 RAILX0AD STOCKS. Ontrsl 'Osltfnrnla Ttscttoa...... .. Weatera Paclfle ufd..., M14 B9V4 Wasters Paclfle mm. J. ......... IT WATER STOCK. Rest Bay Water com. ........... .. V, astern Kf"f Co J .. 8U0AR STOCKS. Calamba Snrar con) ........... 8AM 40 Ctlsmbs Sasar ofd.............. s , Rwa ft0i 42 ll.n.olnti. Pl.nt.tbio .. alV4 4S McRrrd-e Ti BU t'nlnn Missr ofd. wbea ss ad If leaned..... ......... .......... .. ... union Sniar rlchts. ............ 83c .. Wslaroa 8uar Co ,. 87A . on, sidoxs. rialhos Oil t . 1 Raeto Paclfle Oil 0w..i..... 14 9h Carlboa , soe Clsremont t 1.00 ' Pens Mutual 29e . 80s ;ra F luse Oil rt,., ' Holly Development 2.214 3.8214 Hollav 221 23 Illinois Crude Oil Co to to M J ft M ft M Oil Co., s 1e National Paclfle Oil.............. 4 B National Pacific Oil - Painter Cnloa nfd .....r ., . Petroleum Onerators' A tan 4-le Stamtard Otl rlnlita ....8.55 8.80 Tmlan Oil (!o.,. ................ .. .. Tranacentlnental 011 ............ 11 Ventora OH 2H 20H (I 8 Oil ot California 8 84 O 8 IVjomlut,,,. '.1.8 - .. . tMSBRABCX STOCKS. Went States Mte. ....... ....... lt -. ' West Coast Life......... 34 414 Vulcan Pir J ls4, . OAS A3TD EXECTIIO BIOCXS. ',' Oss Conimmers .......,.... Coast Gss U ft B 1 ef.t.,,..... $441 .. C.-et Os. O ft B Orhr sfd....... j- Midway Ga. ntd TSW 8 Soathcra Cal dlnon com.. , ,. 10314 BANK STOCKS Centrisl Sartnxa Rank of Oakland. 1M " .. Kimt A'etlonal Bank of Qaklaad.!iO S riiraso Bank .rSl48 Itfillnn aim-csa Baak. ....... ..140 unerry eant .................. Men-'hsnts Matlonal ............ 118 tat UT14 . Bid. Art. mm aurn Ik.. ov Beoo ....m.m......... Ol Rarert- ............... 4)1 Boeetla ................ 01 fcUrer Kin ............ 2i UlXl Ssst 1A)BV Slmea S T.. ...... ...... 40 42 Slmoa Misa ............ Ol C tlmom Sterltet ......... OS W Slaws Coaaol ,. 0t ' -: ... " Cal'fetaia. - - Anmnast ............. .10 4JM Bnsker HH1 10 .. Central Eureka........ .1.07 1.10 Double O 05 OA ........... 01 .............. OS ............. 11 . el Venn ................. ot Victory ................ 04 West ................. ot Westera Dlrlde ........ 03 wiiw ei OeldfUli BUtriet. Bto Bill 01 Booth Reora-aalaaA - 04 Sroas .- 07 Kennedy ........ ...... 4. OA Moore ............ . O afarrlastoa ............. SI Kersda Fad fie ....... So Knreka M C.. ...... Xelknr Dmm .... . .-, Oataaaa. ,. 01 04 41 07 m 02 09 02 OA OS w 02 OS 12 bis Jim ............... Ca.b Batry ........... DereioomeBt. uota Hey .............. e Laav Bor ............. Mobawk Cba... ......... SI Bend .. l Nellie ................. vs Oitmes Com ......... .. United Ostnaa ........ J" Saa rraaelMO .......... rroa Vsalt ... ........ Talted Ameriea ....... 07 United Western ........ OS . Xanbattaa. - Mnnhattaa Conaol ...... OS sfMatan ......... el Untoa Aaalsamstrd .... Ol riorenn-..,7. Kendall...,, ........... ............ : Ceaitteek. -. OA A 10 ou '.7 II 04 17 20 10 07 00 . 4 Ot ut os 21 03 ' 8 v .03 Oil Belcber Wbl.te Cans . otnar sMtneta, : Arrowbesd ...... ...... 01 Brakes Hilt Ol Bonndrv Bed Uonntaln.. A3 Curry. Carrie Stlrer 01 Fain-lew Hound Mta 30 Clntmaa Ol Mayflower .........m Round Mountain ........ 40 Nerada Hills Keors..... .. sllrer Bills of tier 01 iet Grande ........... .. OIL OUOTATIOSS. Amalsemated ......... 125 , Haorlated Oil ........114 Mnreross. a ,....,.M.' meavaarra ............ . Xarskaa dsremoot ....... "... ....... Carlhon Consolidated M Co..... SI Croetnu General Petlm efd..... 24 Hell . general ratita com..;. s Hoi If ........... Bid, Ask-t Paclfle Oas ft atlee '40 7a.. ...... lorl'i Pacific Blectrle Railways 81 i Pacific Gaa I mo 4s Paclfle Tei A Tel 8 OOVi Pacific Tel A Tel rfd Ss.;..... 3 Psrafflne TWs '42 .ive , .. Paraffin TUs 'SO.. .....10514 .. Psrsfflne THs 102 .. Socte Elee Gss A By C 6s.... 97 , .. S r Municipal 4Hs. ...... ....... .. ' - Saa Hi power Ss... 93 ! Baa TAP sA 0s 1011 Son h ft P sB Oa. , ..98 . Saa I, ft P SO a... ...... ....... i. . 100 . Southern California Gas Ss....... H IWVt S P Branch of California 6s... ..100 .. S P R R ot Cal Rs ..u 110 J S P R R of Cal 5s. .......100 ., If K R ret 4a....... 84 U ... g P ft R 2u-jrar 4 ' " 8 P CoDV Ss ........ m. .......... S9-4 i IP1I Col 4S ., .. 90 S P R R Terms. ........ ......... ., . lO" Sperry Plonr ................... 06 0 Sprint Vslley .....,...,..,,.... 00 0014 Standard Oil of Cal...... ...... -10SH . . Union 011 5a.. 9K4 Union Oil St.. 100 ' lom United Gss ft Blea 6s., t 10O 0. S.-Tressnrjt 44s. .......... .90 20 ' -B.S6 Vallsy Cos Power Co... ......... 90 . 100 Western Pacific Hallway,..,.... 80... SO wiiaoa c fvHMz. Bast Bay. Water A sfd,.,.,.... JB814 : East Bay Water B pfd.i.. ...... 73U Bp,in, yM-mtmiii? " California Oreroa f8 " ' Great Westeraj Pewer ,pld... 7' ... 1, A Q ft B Core ofd.i. ....... f ... 91H N w Bieetric com n l Pacific Gas ft Elee ofd... 92 , .. , ,?;...;-,-.ri.,...v,',,,- .,,.:rf!-f : W: Bid," ASS. Tb Oakland Bask. ............ 29 , , Portntvese-Amerlcaa Bsak..M.. S4V .. S. 8 Saelnss and loan.... 4100- ' .. atlSOELLANEODS STOCKS. Alben drain and Mlllins Os...., 88 . 87 . Csllforuia Wltia Assn eom...., 70 ' 78 . Central Cal Creamerlse.. ........ .. t. City nt Psrts nfd SO - .. Crpress La ana Cemetery, ........ 84 .. Dollar Stesmshl Co.. ........... .. . Rncels Conner 2. M 3.00 Ol'.be Mlll ns SO .. - Uoldea Uate Terry....... .. SB Onodreer T 4nd I. of Oal nfd.... S.114 ,. ' Great West Blee Cbem ofd 80 .. Urest West Rise Cbem earn.,... 2n ; .. Holland Land .................. 01 .. Bunt Rros, ofd .. . .. riant Bros, com................. .. .. Mstsna Narlratloo ......,,....100 138 Moorhead laboratories . 12c National Railh) 1 4a Natomas Land Dttdlias C. ... w S4 Northwest Ts Pfd S3 . Ornheum Circuit Co ofd 90 : Sill Orobenm Clrcnlt C com......... .. -. Owl -Prut pfd 103 , 108 Owl Droir com 90 . Sonth S W Land Co.. ...... 33 SB . Bperry rionr pfd. .............. .100 .. Raphael Welti pfd.............. .. .. Vlrdea Packlac Co... 31 89 Westera Mfar sad Sty 0....M... .. Western Meat 00 .....,,.. .. tellerbach Paper Co com ......100 .. . JSellerbsch Paoer Co nfd 10 1"0 West End Ch.mlcst On SB 8814 TBXIBTED , SAXES. BOO Roily DereloDment....... ....... .3 81 100 do , , 380 800 o ............2.2714 200 do ...v ,3 8214 100 Paelfle Portland Cement 100 10 Honolulu Plsntstloa , 4SH 40 Great Westera Blee Cbem nta...., zs ..Art .8.88 .2.00 .. s-'-e .. 17 'i Stsndsrd Oil rlthta 600 U S Oil of Wyomlns 2;v t'nton Sntsr rltbts. 40 West Pacific com.. Conditions in South Africa Are Improved WASHINGTON, April U.Trad and financial conditions : In ,th Cnlon of South Africa during the month of February have brightened considerably, according to a cable to the Department of Commerce. Of the 1470. lnsolvsnde during , 1931, 1000 were In th Transvaal and were due in a large measure to th Rand ' strlk of a-year ago.- Good progress ha been mad li railway conatructlon work and unemployment la diminishing. Th timber and building trade ar well employed. Th wool market has Improved. The new Weight and Meaaures act went into effect on April 1. , Import Into th Union during th month of February war approximately (3.380,000 and axports 5.808,000, ineluatng export ef native) gold amounting te 43,537,000. Import ef oottoa goods are chiefly of English and German manufacture. Some Natal coal 1 being s'.lpped to Germany. ' Return of gold production from the Rand Show a dscreaa of S9,-800 jounoea, aa compared with Jan-nary, which la explained by the fact that February had three less working dy. Th average dally output during February cf 35.177 ounces wa better than the average dally output of the preceding month. During February the output of (did waa 704,970 tin ounce, as compared with 784,461 fln ounces in January. --February's . output wa deolared at .the standard prlou -of gold ISa. the total value for the month being 12,998.113, a reduction 01 391.094- from th January fig-urea Native labor In the mine is plentiful, the numter employed at th end ef February being 182.988, an Increase of on thousand ever! Janrary. Art 03 " ''":.'.y; 'v'' Bid. Ask. ffollr Dev ...,..,,.t.S0, f.SX aonolnla ......3.4 3.50 Illinois Crad ........ M MeKittrick 1 ..m.. . 1 0 XlsMI nf....... SI, S3 Z J A M If Co........ O : ortb Americas Oil,..., 04 03 Palmer Union ofd:.... IT .22 Palmer Caloa com...., 01 '02 aeifle SH KS Perrolenm Onerators... 44 47 Pinal Bom .. 7) Premier .............. It ' 20 Producers,. .. 8.00 Prraicla 06 " RKord .. t.ii rm MeKlttrlck...... .. 81 sjanerdoan ........... so Jhell Union 18 19 itandanf Oil of Cel.... 3at4 54 9 vV s B t mm rrsnaesntlneatal .11 U 11 S Texaa Oil ...3.(10 S.73 Itandard rlchts--......3.45 8.M 09 Ml 117 12 ' 15 07 T O Awclat........,-.4Hi4 40 Unloa Oil of Cel.. ....112 .. U S California SV. V S Ptlm WTomiac... 24 iv. Wtt Ooait., lSJ.Oo moB Ventsr. .......,.. 37 38 aialaa? Sales. . 8.100 Beleber Exteaaloa .... 03 lnoo Bea Hnr 02 6u- Bra Hnr Extenaios.... 02 fiOO Dlrlde Tonooab.. ...... 81 0 ; e - 10 OS, 2W0 Gold Zona .......... .i 0 fxm Kernlck : 02 A 38 13000 Onerator ,. 14-vh Sllrer Kins ZOOO do .................. anno SmnsKler ............ 8000 Sutherland 1000 do 1WK) Weetera Dlrlde. 1000 Kewanas 8O0O Sandstorm Kendall. ... 1xi0 Sllrer Pick Con.,;.... 23 02 .43 t Ot 31 10000 Soearbesd Gold , eoo Brat B.lcber....... , 1W lino voa virciaia. 1000 Onblr ...... 500 Sierra Nerada ;. . ..... 1.2 l ,'; 83 25 1000 B Hamilton.,...'.,,... 004 Eureka HoIIt 2300 S'moa Sllrer Lead,... 1300 do 0350 do ................. aoDO Gross ( ............ 23 J' ' .'' -': .S-1 rinnn uaa ar wee eom,,....s Paclfle Uxbtlna com 1 San Joaouln I, ft P Corn sfd faa Joaanla U ft V Core com..... .. San J h A P prior 0(1.,,.,.... 09 Paclfle Gaa A Blee ofd.:. no Westera Power com.......,...,, am Western Power pfd KAILKOABu S9V4 am Kfsrket St prior pfd w 78'4 81 Ksrket St 2d ofd 1 18 - Market St com , J .. S F-Sscramento com.. 8 8 f-Sacramento nfd..... W8UIAM0S. rireman's Ponil 840 . Horn Fire and Marine.......... 2.-K Fire 1st anil Gty. .,...,, ......158 Title Ioiuraoc . ...............1874 Vnleaa , ....... 16 BABK. ,,.-. Americas National ...,.,..,....127 ' Antloand I, P Nat.. .........187 , Antlo Cal Trust.. ..... im Bank ef California.. .......200 Bank of Italy. ............ .,,.,..226 8H TO Cent Nat Bank of Onklasd......201 first National of S F... .. French American .............. .141 Mercantile Trust ...,.,...278 Security Bank sod Traet.. ...... 170 2S7 280 Union Trust ............... ,...20j"flOOO Wells Parto ............. -t.. ,W2t ATIHOS BAiTi; . Humboldt 17$ . .. SUGAE BI0OKA Alameda fit Calamba rjfd s'J'4 Hawaiian Com sad Sugar Co.... 47 Hawaiian- ...................... 3(14 Honokaa 4M, Hntcblsoa Surer Plantation.,.,. 15Vi T 84 48 It 8814 914 oaha l Olaa Onomea ,...,. 1 Pasuhan Plooeer Mills ',. Unloa ij .. " -i.- 814 . 82 . .12U .29 sj 8014 24 Amalma ted 12014 130 ' ssodsted ...110 . 1U Bal .Oil and Oaa.. ....... IS ; Oenersl Petroleum pfd 24 ' za General petroleum com 814 : 8014 General Petroleum . afd. ........ 24 2 Honolnm , 2. 4.V 2.4714 North American Otl . Me 1 00 Paclfle Oil y 8 89' Soul American Ull. a" s . Shell Union com.. .A. 1714 174 Pinal imm aa- msndsrd Oil of Csllfornla. 824 Rterlin Oil. and Der...... ...... S 88 8 Teuss Con ................... .8.4B .v Union OH of Cst................lt0 118 . L'nloa Oil Associates..... 48K 4914 Union Oil of Dal 1914 .. w..t cimiiiA..m - Alaska Packers Aasn IBS Amn. (3oM DrMff Iny...... .... . . .. 10A California CoDoer ...... 2.00 ,2.1214 Cal Ink .. 9S Cal Cottso JMIlls pfd. 98 05 81 A 90 70 S--5 !8 , 28 ' Cal Cotfbn Mills com............ Csllfornla Packlne C Ij Best Tractor...,., P. B. Booth Co........ ,. reiferal Tclesraoh Hslka Prult Pas.... I. Hslkn Fruit Pool 7 8114 814 , 2 : 2 02 100 2.1214 Hawsnsn f lnesooia ........ Holt Manufacturing ........ I, r wearer com .............. Mstnsvox .......2.00 Natomaa of Csl ofd........ S Pse A Plre Alsrm . Psclfle Tel and Tel nfd 01 Pacific Tel and -Tel com.... 914 Paraffins com 80 Psrsfflne infd i- " Sperry PlOnr com... 08 Tslephone fnreatment .. 02 87 9,114 ii STOva aas svsu hlw 3It00 Liberty Loan lat 414s 1047 97.28 1900 Liberty Loss 3d 41t 1828...... SM4 .500 Amerlcaa Factors 7s... 102H 1000 Oenersl Petlm Corp 1st mtt ts. .10414 ' 1000 Ot Western Power C 1st m Bs.. CO '4 2000 Miller ft Lux lne tot at ts.... ..10214 JflOO Natomaa of Cal ta rfdt m 8s.... BAV4 1000 do B714 1000 do BTU 8000 Paclfle Oss ft "Blee 0s I02H 1000 s P K R lat rrnt mtt sa..... 2000 Standard Oil ot Cal ts Nets OS Esst Bay Wster A ofd...... -IA Oreat Western Power ofd.... 106' 814 ' 90 v.cinc na ft Blao Co lat nffl... 1M b do m 35 do M ' Bank ot Italy...,, 228 Welle Farm IB' 'A 670 General PstjaBtam Cora com. ... ass 50 do 8S4 800 do 89 . . O0 do 8014 V do, 8014 .' 180 do 80 ' 100 Norti Amerlcaa Oil............. tV BOO do 71(0 do V IKiO do ........ 120 Pacific Oil ............ &X44 , 10.1 do 8t SO Shell fnlon com 1714 . ' 2.1 Stsndsrd Oil ot Cal 824 13.1 do 6?4 80 dw , &214 .800 Texas Cons Oil .......8.80 . 100 Union Oil Associates 40 - BoO do 4fl - 40 California Packiaa Cord com.... 8114 18. do 8li 173 Matnsvoox .................. .2 00 Id Nstnms. of Cal ifd... ,bSH Service Definite, . constructive atkJ I tiepenfJable service - is "Tme of t the most essential factors , in the conduct of brokerage transsctions. Our ' mfor , nation on all stoclu is tie- rived from the most reliable 'sources." . , ('Xt -OMtamfi OUtM Stock md i'.v..- Boiul U0UMm ':'V;;.;;. AaavCi3! fat Hatloaal : Ia Bssk Bldaj. Exchaace Bldg. OAKLAND SAN FRANCISCO Tel. lake. TS TsL Stearay 8041 Member &aa t'raa-lr stock and Bond Bifhante 1 Bid. San Jose Has -Rush for Gold Near Morgan Reported ' Discovery ' . Near .Morgan Hill Gives Ranch' er Prospecting Fever.' : BAN JOSE. April 11. While th rush 1 la no such proportions as that of the! flays of 'it or the still more recent exodus tb the Alaskan gold fields, rancher on the hills In the vicinity of the O'Connell ranch, twenty miles southeast of this city, are prospecting for gold following th 'announcement made -yesterday that ore rich In the precious metal has been found on the, O'Caanell property hack of Madrono. Edward Enderson, Morgan. Hill cattleman, found the gold-bearing ore by accident while hunting several weeks ago. Thinking the . ore to contain copper, he sent samples 10 a. san Francisco aseayer. who reported that the ore contained STOld which would run $164.13 to the ton and that It also contained copper and silver In am oiler, but nevertheless extensive proportions. ' .' Enderson kept hi discovery quiet and secured a lease . to the land. He then took Into partnership Maurice J. Rankin, Ban Jose attorney, and Albert and Daniel Lopes. It 1 not expected that the find will result in any large workings being established Immediately, although it is the plan of the partner to establish a small smelter and make testa at the diggings soon. Temporarily the gold-bearing ore will be mined and will be smelted. In San Francisco. Discover! elmllar to that mad by Enderson have been reported In Santa Clara county In previous years., , '. , r,; v.v .r":'' , MONlMARKSrr 1 S-OHEIOW B5TCHArTG. V. ' Report r for TRIBUNE! Br ".. CENTRAL KATIO.VAI, PANIC Alasjce-Zjoralne, 100 - franc. 3 3.89 Austria, 100 kronen........ .0014H Belgium, 109 francs ........ 6.7 8 Ii Bulgaria, 100 lev..,,.......' .84 Canada, 100 dollar..,...... 98.00 Oreat Britain, If sterling... 4.08 Csecho-Slovakla. 100-kronen S.00 Denmark, 100 kroner....... Finland, 100 finmark.-.,..; France, 100 franc Germany, 100 mark. Greece, .100 drachmae...... Holland, 100 guilder Hungary, 100 kronen....... Italy, 100 lire, .j .. . , ....... 19.03 3.77 S.88 .0048 1.19 39.38 .? I 4 18.01 Norway, 100 kroner Portugal, 100 eacudo. ....... . 4.93 Roumania. 100 lele. ........ .49 Serbia, 100 dinare...... 1.05 Spain, 100 pesetas.......... 15.85 Sweden, 100 kronerw. ....., 38.86 ? Swltserland. 100 francs..... 18.30 Syria, 1 sterling........... Hongkong, 100 local cur... Dt.ezj Shanghai. 100 taela... ...... 78.87ft Yokohama, 100 yen......... 48.70 India, 100 rupee .......... i.u NEW TORK, April 11. Foreign exchange firm. Great Britain, demand, 4.88 S-K; cables, 34.88 -18; 00-day bills on bank, 34.84. t France, ' demand,- 6.88; cables, ' Italy, demand, 4.97; cables, 4.97H. Belgium, demand, B.76; cables, Germany, demand, .0047 H; cables, .00474. i Holland, demand, 39,14; cables, 39.17. " . . Norway, demand, 17.93. Sweden, demand, 38.80. Denmark, demand, 18.97. : Swltserland, demand, ,19.21. - Soaln. demand. 16.32. . Gceoce, demand, 1.18. Poland, demand, .0024 14. - '. . Csecho-Slovakla, demand, 1,98. ' Argentine, demand, 38.76. - Brasll, demand. 10.70. Montreal, demand, 9.83 tf. ' NEW TORK, April 11Call money easier; high, 5; low, V,: ruling rat, 5; closing bid, ii offered at 614; last loan, 6. Call loan against acceptance, 4; time loan firm; mixed collateral (0-90 daya, 614: 4-8 month, 81. Prim commercial pa-per, 6614. -':"" - NEW - TORK, April il -Foreign bar silver 85 S ; -Mexican- dollars 60H.'' " .?:,;.' v; -' LONDON, April 11. Bar silver 81 13-ltd pr ounce. Money 1U per cent. ' Discount rates, short bills, 1 T4 O 2 14 per cent. . Three months bill 3 14 3 l-lt par cent. EARNINGS takes fnrest'Ctes BONO BfTERSST CHANSKt PSBI FDRTHE PAST FOUR. YEARS average net profits arrojdmately S timet the bond interest charges. . ' . Tii.U.,h V' record behind th urn of Mohawk Oil Company 7 FintMort-gag Bona which we offer to investor. A first mortgage on cUversified properties valued at three times the mortgage debt In addition six aSISPcr!T ?f kish productiveness appraised 1 at42r000,000 will be assigned to the Trustee, making a total security of $3,498,000, or almost 7 times the mortgage debt. . . , . This eonetltutee the very eaf J margin of VT eecvnty.JTt yield U 7. These bond tare Tax Exempt in California, - y send your name and address. Address. WrJSTAATSCO; - EUabUiM J8S7 . ALEXANDER BUILDING v SSosnnxMn srsaax. oosm or Sussi SAN FRANCISCO - . tee AisoeLts TIIOEAT TfrHALT BUILDING SEEfJ EE COSTS Material Pripes Stow Jump of 24 Per Cent Since LaBt March. - J. aSB JaHUAlBS faiUS Sje. VHKUIMSJ SBVS-W conatructlon in 1923 waa th largest ' . . , - k..nji i..i...fr of ' th country." - ay Commerce Monthly, magazine of the Nationals . Bank of Commerce In New Tork. "The -value of. new"-, contracts J awarded during January,. 1923, was larger than during ; January of -either of the . two preceding year, ... continue the hank's magaxlne, "and -predictions are being freely made - that in 1923 the volume of build-Ing, on a valuation basis, will x ceed even tbe high record of 1923. '"Whether or not these expecta . tlon will b realised, " states ' th article, "depend on building costs. They are already . high and the price vof buildlnr 'ma.U.sis and wage ara rising. MTnjdar tnes conditions thara la alwava th ...... I- billty that a aeult of high coat, those who are - using - their own funds will prefer to delay building and that construction dependent ' ' upon borrowed money will b hsai-a pared by the unwillingness ot lend-" era to accept current level as a proper bails for long-term loan ' with th consequent restriction oQ such loans to so low a psrce'ntag. of conatructlon costs as will maker' it slltfloult for owner to finance their undertaking. 1 , - ., NO MATERIAL. ; 8CARCTTT. ) ISuperflcIally tho e o n e 1 u 1 o a might be drawn that a famine of building materlala and aupplle is Imminent, ' but such a conclusion omit ta price factor.' : Building represent' a. long-time Investment and over and over agala !has been demonstrated that no Industry . I more susceptible than Is construe- . tion to th effect of price advance. Since last March the upward climb 01 Building material price ha been tapid. Th United State Bureau of Labor Statistic bulldin ma terial index ban' Increased - 34 -ear cent ;'.'' - ' 1 . , . - . , "The bulldffiig labor situation te similar to that of building materials. There 1 a shortage of labor, both skilled and unskilled. This Is th comblntl result of the competition of industry and the restriction of immigration. The resultant shortage of skilled labor, combined with effective' organization, ha mad for monopoly wages. While wage scale in th building trade have been cut in most cities, wage paid have been determined by the law of supply and flemand and they ar now probably a high a they wet at the peak of prices in 120. HIGH PRICES. . ' "With, stabl prlcea and reasonable wage, a true shortage of build, ing materials and of building- labor wpud be; almost certain, but rising; price and wage will operate to prevent .he development of this condition. A building coat mount, they will reach a point at twhich home builder of amall mean cannot meet them. Already there, ar report cf cancellation .of loans for this purpoa because the amounts arranged for have proved insufficient to meet rising costs. Builders for industrial purposes and -municipalities as well will hesitat and investors will be inclined -to consider carefully the wisdom of placing -funds in invest). ments which hold Increasingly doubtful promise of profit and of which the ultimate security may be in' question. - - - i , - 1 LTJSfBEB. ST. LOTjiS, April 10 Rumption of building oparatton on th largest acaJ vr known la thl section ha revived tb demand top lumber of all klndu here today. Prices are steady. Furniture manufacture 1 gaining rapidly. t ANNUM . it:i. fAaanaiA S 13 1 I V r