other, new use.
.w..- .e—m.
l DVANCES in grain, dairy
'- products and cotton during
October strengthened the
irelatively low price of most agri—
Cultural products, which was the
weak spot in the Se temb’er trade
'oituation, and railroa traffic closely
a proached that of October 1920.
or the week ended October 14
the number of freight are loade
was 983.407, against 91 ,529 in the
corresponding week of 1921 and
1,018,539 in the corresponding
week of 1920. Grain shipments
have been seriously ham ered by
the lack of cars, and un oubtedly
car eloadin 3 would be running
above the 920 figures if the rail—
roads Were able to handle the busi-
ness ffcred. Coal production has
been elow the mine capacity, due
partly to the lack of cars_and
partly because of an indisposmon
of purchasers to accumulate stock
on a falling market.
Industry and Trade
The industries are generally ac-
fiVC. with employment practically
full and wages continuing to come
into line on the higher level estab-
lished in September. In all lines
of manufacturing raw materials
have been advancing, and efforts
are being made to secure corre-
spondim: advances in finished pro-
duct-a, but they meet with no little
opposit'un. Advances in wool, cot—
ton and silk have forced manufac—
turers to mark up cloths, but al«
though the dealers yield a grudg-
ing (N‘l‘u‘t‘lli. goods lag, behind the
materials. Consumption of cotton
bv the mills in September was 495,—
344 running hale: against 5.27.404
in August and 434,718 in Septem-
ber, 1031.
Cotton Market Outlook
The weather has been favorable
to making the most of the possi-
bilities for the cotton crop, but the
yield cannot be expected to be
much above the government's last
estimate of 10,315,000 bales. The
carry-over stock in this country
was 2,828,000 bales, which would
make the available su ply a little“
over 13,000,000 bales. onsumption
and exports in the last crop year
were about 12,200,000 bales. Doo-
mestic consumption is running
ahead of last year, but exports are
falling behind. Foreign stocks,
houiever, are light, and world con-
sumption in 1922 has been well
above that of 1921. Evidently
everything depends upon the Euro-
pean political and industrial situa-
tion. 1f the consumption of cat-
ton goods is anything like normal,
there will be a shortage of raw cot-
ton. In view of these conditions
the market has been strong, rising
above 24 cents per pound.
At this price the crop will bring
more than the average return to
the South and affords the basis for
good business in that territory for
the ensuing year.
Hogs are down a little from last
month's. prices. but all live stock
is on a much more satisfactory
basis than a year ago. ohn Clay
& Co., Chicago, one of t e leading
live stock commission firms, makes
the following statement as show-
ing the improvement over a year
ago:
Top Prices at Chicago
emcee r
a
October
' 23.1922 14.1921
Top steers ...... 93.55 9.60 “.1
Tap yearllnu .... 13.00 1.25 15.5
Fender cattle .... 8.00 6.75 18.5
Top hogs ...... . 9.75 8.30 17.4
Top lambs ..... . 14.6. 8.75 “.8
Feeder lamb! .... 14.75 7.75 90.3
Corn (cash) .... .11“ 46% 54.2
Europe As a Factor
Conditions in this country are
favorable to a continuing volume
of business practically to the limit
of our labor supply and transpor-
tation facilities, as long as foreign
markets will take the quantities of
our products. particularly farm
SCHOOL: DAYS
‘ aggregate
; Current Business Conditions»:
By GEORGE E‘ROBERTS
(From the Monthly Bulletin roi- November lamedby '11.:an City'Bnnk «New Yuri) ..
products, that have been moving
out in the past year. Mamba:
conditions have .been 'the cloud
upon the horizo
war and
held aboutthe probable “mace
of E rope upon our prosperity.
One s been that European pur-
chases robably would decline be-
cause of Europe's inability to make
payments, and that we could not
hope for normal conditions in this
country without ”recovery In
Europe; the other has been that
Europe must of necessity take our
principal agricultural products m
at least as law e quantities as be.
fore the war, ecause of Russxa’s
disappearance as an exporter, and
that beyond this the United States
was sufficiently self-contained to
get along vay well without
Europe. . ,
l t was inevr table that our ex-
ports of agricultural products
would decline from the war figures
as agriculture in Europe recovered,
although in the case of wheat they
have been well maintained to the
present time. On the whole they
have been maintained in quantity
above the pre-war level.
Down to this time events appear
to have fairly well sustained the
view that Europe would need to
take at least as-much of foodstuffs
from us as in the pre-wa‘r years,
and the recovery of busmess ac-
tivity this year, despite our serious
strikes, has given support to the
view that this country can have
a good degree of prosperity even
though Europe does not overcome
its troubles.
How Our Exports Have Been
. Paid For
Without disputin the conclu-
sion, it may be wel to point out
that there are some uncertain fac-
tors in the situation. The doubts
that have been expressed about the
maintenance of our exports to Eu-
rope have been related to the in—
ability of Europe to find the means
of payment. It was evident that the
heavy trade balance would have to
be settled in some manner, prob-
ably to a great extent by loans or
grants of credit of some kind. and
it was considered doubtful whether
they would be provided in this
country. It is known now that
these have been provided in large
amounts. The total of loans and
credits is not definitely known, but
the HonHD. R. Crissingcr, Comp-
troller of the Currency, after get-
ting the best information he could
on the subject, has estimated the
net \amount of foreign loans in
terms of dollars floated in ‘this
countr insthe four years of 1919
to 192 . in round figures of $2,-
500,000.000 and the total, including
securities payable in foreign cur-
rencies, at more than $3,000,000.000.
He estimates the foreign curren-
cies purchased in the United States
as representing a cost of $500,000,—
000, and it may be mentioned in
this connection that the New York
\Vorld has recently conducted an
inquiry upon this subject which
resulted in an estimate above $900,-
000,000 for our purchases of mark
currency and mark securities.
Mr. Crissinger's figures above
$3,500,000.000, without
commercial credits. These he esti—
w mates at $3,000,000.000 since' Aug-
ust, 1'914, and he estimates our
purchases of American securities
from foreign holders since that
date at $3,000,000.000. Confining
the present discussion to the post—
War period, without attempting to
say what share of the commercial
credits or purchases of American
sEcurities belong to this period, it
is evident that altogether the of?-
scts against our exports, as classi-
fied above, have amounted to con-
siderably more than a billion dol-
lars a year since the war.
It is true that not all of these
ever-moisten «the!
two opinions have been how
. . _ v
loans have been granted to Europe]-
t once the creature-granted.
hyfimter into the _-intergetiogaal
‘ ' ntsandthereisnohowmg
athey will be used. As none
of-ealcae' crcfitsmre transferred in
theiot'mofanoney it is ccrtam that
they were need for payments With-
in e country, and eountedjn set-
tlement of our favorable trade
balance. ‘ , . ‘ .
In" addition tothe credits created
by loans publicly floated in this
country, 3 'credits granted for
the purchase ,05- merchandise, on
important amount of credits has
been created since the warby the
sale of property interests in this
country of various kinds by for-
eign owners.
Finally, we have
balance large amou
the last two years, which have
counted in settlement of our fav-
orable merchandise balance. Our
net imports of gold in the calendar
year 1921 were $667,000,000.
imported on
These credits, created in vari- ,
ous gays, although' of uncertain’
amounts, are sufficiently definite
to indicate how our exports. have
been maintained. The history of
the‘years since the war does not
disprove the contention that-Eu-
rope did not have within herself
the resources with which to main-
tain her normal purchases in this
country, and that credits would
have to be granted.
Our Interest in Europe
And so, looking to the future at
this time, it will not do to simply
say that Europe must have the
usual quantities of our products.
Undoubtedly they are needed, but
they will not be'takcn unless set-
tlement can be made in some way.
It cannot be assumed that they can
be made indefinitely in the same
way as heretofore.
Although gold will continue to
come to us, it is to be considered
that much of the gold that we have
been receiving has come originally
from the reserves of Russia, and
that of these no great amount re-
mains. We will get a large part
of the new production, and, pf
course, if all other resources aré
exhausted, the reserves of Europe
may be drawn upon for necessary;
food supplies, but the exhaustion'
of European gold reserves will not
be something for us to view .with I
e uanimity. '
e do not offer this discussion
for the purpose of suggesting that
European purchases are about to
decline. We do not think they are;
we expect to see Europe buy large-
ly of our grain, meats and other
products throughout this crop year,
although restricting purchases as
much as possible. It is important,
however, for us to realize that the
situation is notnormal in the sense
that our foreign trade is in bal-
ance and can go on in the present
way indefinitely. The fact is that
our exports have been financed by
extraordinary means. The sale of
marks in thisacountry has been as
much a makeshift for us in finan-
cing our exports as for Germany
in financing her imports.
We are not independent of
Europe. It would be a very seri-
ous matter to us to have its pur-
chases from us decline in a con-
siderable degree. We are inter-
ested that political and industrial
conditions over there shall be upon
a settled and permanent basis.
There is reason to believe that
in many respects industrial condi-
tions have made substantial im-
provemcnt in the last three years
but the reparations question is still
in the way of the reorganization,
of European finances on a sound
basis. That the recent post one-~
merit of the payments to Be giurn
18 not accepted as assuring a final
_settlement .is evident from the_
further decline of the mark, now
valued at about 4,500 to the dollar. .
s... ..
of goldt in '
We:
By DWl'O
I 1/ / '
fig .. 1/ u .0... W W... ,.
v. or. N07. (.01 To
wgsoo muom w \7 DEERE You cm no rec. KNOTS}
FROM MISLWM m‘ M MD W Kw: A: :fer/io
‘T'T‘ 006m. “"0 ' M -' 00 1am wen
W8 "Nb I, t H 0.
Y?) NEE-.2, you've at WM. ,, eoou‘r ’cn ,Tae‘l 50:33:70“?
A S mm W OWNER“ OF A (,2, ‘men Tm WT new
AND 80 wa m mus A mop oer out a: N ’
——'*1 Bomb. m rs plea? OFF» ' ‘ cue? mu FIGGERE .
r“ Rots Y9“ WAR * «(mgr W.
i Am? 00? W01“ _ . .
. PM“ in 140. we: ./// 1,6 any Slice C'mimgfiiiifis.
we. MiUtWeED cufifi‘ . - ' peApCPT-m-‘ME-GRNE T SH.
" “a 50" 6 Me 9‘9 "T : Hicn‘! ,wn‘l, is T!) P“ 'MD
-' INTO A Cu? a mean.
even! Time vol 9065 IT
‘7" You DlD m Wears m.
EMS en mew OFF-
,1 ‘ ‘i
.- .....
7
g: i i '1,
Dinner ware Of
distinction. j
Our dinner ware scetion presents a comprehensive
display of character patterns and quality‘wares selected
with ggeat care from the best potteries of the world.
Weare in a position to givethe best and to save you
dollars on your investment—besides-we advise selecting
open stock designs from which ypu can add or replace at
any time. ‘
- Special set consisting oi. 6,,dinner plates, 6 bread and
1 meat platter, 1 vegetable dish, 6 plain glass tumblers.
Choice of blue and gold line, gold laée border, gold print
design, or apple blossom spray, Complete set 38 pieces
for $4.95. ’
American semi—porcelain, pretty rosewspray design,
52 piece‘set for 6 people, $15.0; or 100 piece set for 12 peo—
ple, $24.30. 7, "
English semi~porce1ain——a ware that is very durable.
Selection of several beautiful border designs, 52 piece set
for 6 people, $27 ; 100 piece set for 12 people, $54,. '
Dinner were from the land of Nipon, many designs
in soft coloring on clear white. china priced from $53.75 to
$118.45 for 100 piece set. " . "
Eaviland’s Limoge china, a special purchase of com-
plete sets make it possiblejor us to ofifervfloral spray‘With
gold edge design, 51 piece set, for $25; 100 piece set for
$37.50.
Haviland china, white and gold pattern, guaranteed
18k coin gold applied with matt finish, 52 piece, $65.10; 100
’ piece, $130. ’ ' .
k,
This is oil". heater 1
itimeuNesco heaters $45.95.
These chilly mornings and evenings remind one of the
necessity of some means of taking the chill from the air——
and to do it Without the need of-lighting the coal stove.
These Nesco heaters do the work very efficiently—at
small cost'and quickly. ' , . . ‘-
~
Well made and very satisfactory‘in every way and
[only $4.95.
#1
, value $6 for $5.
buster plates, 6 puddding dishes, 6 tea cups and 6 saucers, .
winches, values $3 to $3.75, new for; $2.75.
* floor, coverings.
"All the beautiful rugs and yards and yards of linole ‘
and congoleum have got to be moved to make room fo‘
Toyland.“" " ' y
We would rather let yOu move this stock than do if
ourselves—and we are willing to make it worh your ,Whiloi;
Here’s howwe do it: . - ' .
$65" Worsted S’Vilton rugs, seamless, 9x12, $79 value, fo
Heavy Axminster rugs, both seamed and seamess—i
large variety of pleasing designs, $4.7 value for $42. , ,1 ’
Axmjnster rugs, Odd lot small figures and floral de
si2g5ns, ft. 3 in. x 10 ft. 6 in. and 9 x 12 feet, $29 value ffo
Stenciled graés‘irugs 8_ -x 10 feet—greens and tans,
Two sizes in Congoleum hall rugs,
7 . 3 x 9~feet $1.35 and
4‘ feet 6 inches $9 feet $2.
Axminste'r rugs—small sizes, most of them 27 x 54
___‘ Oval rag rugs—Chintz colors, value $1.25, for 85¢. .
. Remnants of printed linoleum and felt base flooreov'
cringe—sizes to fit pantries, bath rooms, kitchenettes, etc”.
values 690 and 79c, for 4-50 :1 square yar
, Third floor; rear
. \..’
. Columbia bcycles
are a good investment.
Good for two reasons that the outdoor exercise Willi
be of benefit to your health and the fact that Columbia,
bicycles are lowered in price benefits your pocketbooks. i-
We sell lion bicycles as well as Columbia and both are;
high class fit to lead in any event. ,7 '
Lion bikes carry. all high grade ,_equipment and are:
backedhy the store ’s guarantee. Boys?» and men’s, $32M
Girls ', $315. ' ’ 7
d The Columbia is tthe highest grade;l of blink: we know at ‘
an eagles eqm on m eeping an, as ' k cord meal :“
the new Colum is one piece pedal and new departed
3:
New 103: prices for men’s and‘boys’,
to“ floor. not
‘—
Tail-10w DRY GOODS Q0. ~ ‘_
some: brake. 7 .
$37.50. Women’tg
o v .
- ~~ Fourth floor, from
generator or storage battery. and this
is stepped up to a'high voltage cur—
rent by means of the induction coil.
The timer and distributor are neceap
sary iniorder to have the spark de-
livered the respective cylinders in the
proper firing order at the propertlme.
Honklljonk!
M'otor Department, The Sentinel:
.Please give formula. used by the
' State Motor'Vehtcle Dept; for figur-
mg horsepower of motor cars. Also
that used by the car builders. If I 1n- Please tell me what: is meant by the
' crease the size of the water jacket oftWOrd :ground" in connection with the
my motor, will that reduce the ten— electric system on acar. I understand
dency to ‘heat in hard service? that rubber and wood are insulators
_ J, K, and cannot see how a current can pass
The A. L. A. M. formula lapsed. from the engine to the ground, or why
Namely. square the cylinder bore and it would be advisable. to have it do to.
multiply by the number of cylinders. ‘ ' H. R. _
Thendivlde by two and one—halt. This This is a technical we of the word
'is also'used by (manufacturers) to a. to mean that the currentvfinds its way
i great extent. Tendency to overheat back to the battery through the engine
1 will be reduced by enlarging the cool- or frame, one terminal of the battery"
i ing system. Perhaps a larger 01' more‘ being fastened to the frame near the
; etficient ' radiator would overcome 3 battery. The term comes from the use
fiyour trouble. Would suggest; that you of the earth by the telegmphers fwho
4- try this first“ ' run the current into the groundnut! so
C ‘ .
let. it find its way to'lts-nourcs,
Motor befiartment. The Sentinel:
Could you tell. me what the differ-
e _\is between a high tension ,disa
Motor' Department, The Sentinel:
I have an old Chalmers car. QWhe'n
it is running on magneto it. will jump
continually and lose pfiwer, while it
runs fine on the battery. Please give
me the cause and remédy which 1538—
sure you will be appreciated. 7.: ’
‘ ' , nouns-n,
i trtbuté’r and a tuner?
— ,, C. 0. 7
The high tension distributor takes
care of and distrlbu the high ten-
sion or seco‘n current to the
various cylinder-sat timed intervals.
' lfvinterrupts at: timed
ary may-m, The:
Motor 'Department, The Sentinel: .-
’ bf lubricant used
Washers-atfthe end of the axle housing
“or, withinthe rear hub are.properly
installed, the grease should not work
‘jh'e radiator, so as to prevent treedng.
{Earner of radiator. f’ndaich drains the
»’ olden: water-to geti'id of anyrmolst-
' 'Lecave
tributer inside and Out. Try car again. " My engine sputters and misfires "be”
If trouble continues the magneto must i f start it up and later runs alright.
be sent to a service station. Perhaps \Vhat is the cause of this?
the magnets are weak and need re- READER.
magnettmnb. . The trouble is undoubtedly due. to
cold engine. The gasoline mid at W
chilled and do not mix properly. . _ ,
the engine is heated the $391“
vaporizcs more readily, affecting a
ter mixture, consequently the enema
does not miss explosions. Go over 1115
hot air pipe carefully to see that,
does not allow cold air to entor’zna:
S. M. . chill the air coming from the beta}?
Vt’ould suggest reducing the amount stow: on the exhaust manifold. V
in the rear axle. » ' ,
Also would advise that. you use 3, —3w your “cu-om to: DOW. ,
heavy non-fluid grease . 15‘' the felt :53 M. "e“. ‘3 ”We” 3”” ’9“
, evenings unfit 9 p. m.
Motor Department. The Sentinel:
I own a. Buick and find that the.
rear right wheel splashes oil on the
brake} and wheel. I ‘have taken it: off
and put new felt washers in. but it
does no good. Please let me know"
how to fix same and what you think
is the trouble.
out at thefbraLkegs. , ,
.‘Mobor ,Department, 'The Sentinel: .
I have a‘Ford car which I wish to .
put tn cold: storage ‘for the; winter.
Please give me directions for care of
_. * ~ , _ OWNER. . ,
j); Open the’draln' valve under right
isnjtlre cooling system. Jackipp left,
emnt’wneet a few inches to drain that
he drain ive open .7 ‘_
Norwalk Chronicler