BUFFALO EVENING NEWS: TUESDAY, JANUARY 2, 192&

BUSINESS RECOVERY Washington Sees Few 1923

mal t i n e a , and have created such u n - therefore, to make u s cautious In e s -
settlement In foreign trade and s o r e -
duced the bvytng power of foreign
countries a s to destroy or endanger
timating t h e prospects for the future
a n d take care lest- w e build o n a false
toaala. Business In this country can*
Oil Prices Weaken, But Shares Rise. MUSI
MHXM
then

LIKELY TO BE LIMITED Clouds Upon the Horizon the foreign markets for m a n y of our
products,
Contributing to Oiseraaniiation.
'Reparations and Indemnities a n d
not progress Indefinitely without it*
foreign markets, a n d undue e x p a n -
sion now, with rising cost* and arti-
ficial values, would inevitable s o w the
Other intergovernmental . d e b t ! a r e aaeda of reaction a n d make more dif-
Decline in Consumers' Pur- Europe, Congress and the Radicals Offer Possible still unsettled and are contributing ficult the re-eatablishment of normal
relationships abroad. To, avqtd these PHILADELP'
their s h a r e t o the derangement of
chasing Power Is Not Dangers but These are Regarded* as Remote. market* a n d the disorganisation of pitfall* w e depend for the m o s t part wfcele§ai«r» are optimistic eon
sowilng »««»• i
o n t h e good** sense and torasfgfat o f
Improbable. international trade,
"Snetiga forces are operating. American business." boafti Off«f tl»e holidays ao
T u**d»y n i
Special fr#m V. T. Et'nlng foU sheep a n d cattle industries have been to retail hand* ara low as
fpMW front {/it Jr*w IsrU Evening Fatf considerably stabilized. that they will order at once
to tkt Buffalo EveningNeut,
By GEORGE W. MORRIS.
to *a//aio Evtntng Ntwt.
By HAROLD PHELPS STOKES, The relative disadvantage of the
WASHINGTON, Jan. *.—Europe, agricultural producer aa compared
Beviwaer, Ft4tral Rntrvt Bank ef PA«a> congress, and t h e radicals a r e the a serious to untoa labor remains, however, aa
Middle West Is Cheered &/ order* for immediate and spring good.
much batter than a y*»r ago. Coileet
ate good.
Cloves, .
dtlphia.
N E W YORK, Jan. 2.—I a m inclined in t h e capital view. Oficlals are dia-
underlying unfavorable fac-
ossV clouds o » t h e business horizon, tor. But It la held t h a t the very
prosperity of labor, n o w fully em*
t o think t h a t "the recovery i n g e n - posed to think that these clouds are ployed, m a y result In an Increased
Progress in the Post Year PHILADELPHIA, imm. «,—Oh>*< •
have bean mask better tbaa was aa
patad. ' Soawt retailor* did not have em
ef tk« wasted merchandise "to itti
eral business n o w In progress" i s not necessarily s o immediately t h r e a t - consumption which will In t h e end demand. It mm the beat m-
l w g e l y d u e t » certain temporary con- enfng"%.s more pessimistically Inclined be of great benefit to t h e termer. Farmers and Merchants Have Had Their Troubles But aoaaon the rotailcr* have known and
dltions. It ia partly seasonal; partly folk believe. The radicals may not •ale* continue good. Steek* s
Authorities Are Optimistic. •ad flirrfl* are erderina »aopik
due to the temporarily stimulating ef- paint the town s o red aa Wall Street
fect of a a advance in duties on i m - expected after a l t Congress cannot O B the whole, capital authorities
Are Adjusting Themselves to Conditions. two months of good battaaa*
mar be #xj»»ct«d before the jiorios; aes
ports; partly due t o a reaction from pass t h e bonus—for months to come, are optimistic, though cautiously so.
the very limited buying by retailers Pry- Good*. .
and consumers on the falling markets at a n y rate. „ > aPeople hereabouts have come to have
very considerable confidence in the
Social from Htm Ttrk Svtnint rot*. h a n d on business and lost to trade NSW YOKK. Jan. S W!»le**l<.
K A N S A S CITY, Jan. 2.—-One of t h e a n d to banking interests much a d -
which prevailed from the spring of Europe i s in a toad w a y , a n d lust Judgment of Secretary Mellon, and m a x i m s of t h e old frontier cattle vance that might •sods firms are doing araabingMM''
1920 to the summer of 1922, and partly at the moment some of i t s problems here la t h e w a y he sizes up t h e situa- days w a s t ^ ' Y o u can't teH Just whera tained. haare been a t - thl» week, with a volume far ahead of
due t o the settlement of the coal and are particularly aeute,^BUt it is held" tion In h i s annual report? ..,-*•"»: year. Soma wholesalers are geitIn*
you a r e until y o u come to t h e round- orders this week of from ten t> 40 ea
railroad strikes. that egen Europe's troubles are not "The 12 m o n t h s which have passed up." T h e past year In t h e Middle Troubles of Merchants.
With t h e more pressing needs of completely subversive of our economic since the last annual report have Wast h a s been marked by a n uncer- T h e Western merchant h a s h a d , The violent ihictuatiom in wicea characteristic of the petroleum L. r a o a m f''« o ti/*taJ!f 0 iif» , ^eS-..
consumers supplied, the acutenesa of prospects. been marked b y further liquidation tainty that at times brought dire during t h e y e a r a mbet trying e x - industry since 1920 are graphically illustrated above. Specially notice- feeUenT ^ - n l t a - %2LZ*£f?l£
the housing shortage somewhat re> Of course, you can't t « I about con- and recovery from depression, and, prophecies from the more t e m p e r a - perience. Unable to determine Just able are the precipitate declines in early 1821; the shortnes* of the peiidd | CbAtss** trade, sad tbey are » » in iSs
, k ,,
Jieved„jand t h e commodity price le#ei gress. T h e bonus isn't t h e only m i s - more recently, by a substantial r e - mental, but in t h e "round up" a t t h e w h e n trade would show seasonal a c - of low prices in 1921; the sharp recovery in late 1921, and the variability ?h f ^M^^* *, *" ft* L»J"S!iJ
i
advanced t o a figure which the con- chief it can be about. It might take vival of business. Prices of commodl- e n d h M auMy elem#llts tnat tend tivity, ha h a s taken protection and general weakness during 1922.
s u m e r Is likely to regard a s unduly It into Its head, for instance, to break ties have risen materially a n d inven- t o w a r d s encouragement. through moderate buying; at least, h e are bri*tit. Collections are good-
£ i g h , a decline in the volume of i u r - t h e budget, though t h e Indications tories generally a r e low, the volume In i t s early months i t w a * r e c o g - has bought from hand to mouth a n d Since the beginning of 1922 the trend of oil prices haa been down- Hat*.
ehaaing would seem to h e not Im- are t h a t i t won't do anything so of business h a s been mounting to nized that w e could not expect a h a s refused to fill h i s shelves u n - ward, although the net movement of the price of oil shares had been mod- PHILADKLPHIA. Jan, 2—Hat 1
probable. There is alseVto toe barm- in rash. higher levels, a n d labor throughout duly. Eastern Jobbing houses have
clearing of t h e financial sought to ^overcome this by sending erately upward. The appearance of the curves for 1922 clearly reflects are doing- little spot business, but «*»***.
mind t h e fact thftt the purcbaa ng If t h e ship subsidy is passed, a n the country U again fully employed. complete skies In a single season, ' t o u t l t w a s tine weak market conditions tejuriHng from continued over-production. ' I f o r si •Dries eoods or* coning in. • p *
power o f . t h e f a r n w l s s t i l l f a * be:j*~ event which looks unlikely-Just now, —™TMT;y5aT""t« -eteatiss" -with bowrtt- geneTcny—Believed" that -s6nSJHTW<*es M o d s for, s a l e * of t h ^ d u r a t t a B t n t s knitted worsted eana eontimaaa si
normal, and that ihirope cannot c> n- that legislation might prove more ful crops, and the severe depression In that direction would be t a k e n . l o w i n g return', of t h e articles u n - rhe prices showrt on the*chart"are monthly averages recalculated* into)^L , | ^a4 , t unehansed. * Demand front
tinue indefinitely to buy, and j ay costly than President Harding thinks. In agriculture haa been relieved. Perhaps t h e distance traversed h a s sold. #- percentages of the average price* of the respective items in 1919 The, eoal-mtnins; relba* he* not fulfilled
from capital instead of income. When the n e w crowd g e t s In next Many of the sections which a year or been less than anticipated, but t h e r e In a measure thla h a s been Justi- calculations and chart were prepared by Joseph E. Pogue. peetations.
\ The labor situation in this come u - spring or fall, they might well push so a g o were In a precarious condition have been sufficient reasons therefor. fied, and in the c a s e of dry goods Ribbons,
tftlty from t h e viewpoint of the a v * - a program of taxation which would are today working o u t of their diffi- Every financial Interest w a a for t h e and ready-to-wear articles It h a s (Copyright, 1922, by New York Evening Post, Inc.) PHILADELPHIA, Jan. 2.—Ribbon
a g e employer. m a k e Wall Street feel pretty sick— culties and gradually paying their first s i x months extending credit t o proved helpful to t h e country mer-
look is better than for a long time,
I x o u | d n o t care to go into a d e - and business generally. debts. . ... -- --- the utmost, looking forward t o t h e chant. H e w a a able to show hi* banks with toO great a load, and If factor say* that indications have not
tailed discussion of reparations a t! Hural Credit Law Certain. trade Tate s t y l e s a n d y e t not Invest the Interior can once market i t s prod-
Inter-Allied indebtedness. To p u t n v But when It cornea t o t h e more banking
"A few Weak spots remain, but h a r v e s t In prospect. That h a r v e s t in unsalable materials. With t h e In-
conditions generally are w a s abundant. The w h e a t crop o f
view In three words. I would «ay tna" pressing needs of the western farm- sound, money rates are reasonable, 815,000,000 bushels exceeded that of crease in c a r loadings w a s evident situation.
t h i s country should take a n attitude ers, of whom t h e East la s o fright- and there la sufficient credit avail- 1921, a n d practically hall t h e w i n t e r so marked a stimulation In trade
uots a t a fair price It should ease t h e
Interest In our foreign trade, m a n i -
NPflFBPNrSS so good for 20 year*. With raferane*
French styles, it was said that at
time a bat could aot be boogbt in
with ribbona on, sad now a bat eawrisf--
J ened, i t may turn o u t that they a r e able to meet all legitimate demands, w h e a t w a s raised In four s t a t e s — that it became an Interesting specu- fest since the war, continues to b e bought without ribboas.
of 'helpfulness and forbearance."
,Jt:ot such desperate feltowa, attar all, The^waste n f war.la=halng repaired. tJCansaa, H e b r e w s * Missouri a n d Ok vival
—•; Of course, ffiere are radicals among a n d even abrnad there are signs of 'la boron.
lation what might have been the re- shown , by the argicultural sections.
been
of business, activity h a d - t h e r e Realization of the influence M mar-
abundant transportation. It h a s
FFOMMJHY PLACES reCausI* "0*B*er»~* k >^
•eV BOSTON, «ta, £.-~Tbe deal erode
| them, and none of them likes Wall progress In reconstruction. ber market today w u somewhat > troag*t
become more evident, that 'efficient keting our surplus crops abroad and
CAfltE PRICES' GAINED -•^Street very much. Undoubtedly-; *1»Y the treasury the year, haa seen
(there is danger in agrarianlsm figur- a reduction in the gross debt arnount-
ing in t h e coming campaign. In*-to about il,o0O;OOT,9W,'^
Marketing Interrupted.
transportation
It w a s logical t o ' e j p e c t that t h i s accomplishment
market, air h a d business.
Is a key
of farm
Ttrthe-TuHest \ the fixing of prices on the world maf*-'
country ket h a s come"to"^lhe prooucer.
Readjustment Continues.
- Rice C r o p * .
NliW OBLBJfNS, Jan. A.—The gov- though ataadard
ernment'e final estimate of tb* rice crop, manding 27%e
increasing- the previous estimate by about •rs ware bidding
8.000,000 bushels, is a bearish influence
demand continued siaek.
ribbed smoked sbeet* were #«-»»-
for spot delivery, bat **»-
about a quarter.--erf a
But that Is n o excuse for N e w Turk budget t o r t h e fiscal year 1922, show- that of the previous season, a n d
S I M U A S I YEAR bankers to feel faint when somebody ing a surplus of over $300,000,000 case
s a y s "rural credits." Rural credits above expenditure*, and substantial strikeh and
progress in t h e refunding of the
are needed. T h e y are g o i n g to come. short-dated debt, which h a s now been
doubtless such would have been t h e Notable, t o o , has been t h e rising
a d It n o t been for t h e rail tide of complaint against high trans- of
It la unreasonable to expect out oa a market already ehisgieh. Lou'aiana'i
the next few months any marked

of transportation m facilities. M e r c h - laid o n production and contributors a s they a r e modified by t h e final State* la estimated at aS.lBO.OOO, about 1 S
-rop n nam estimated at l»,*88,»«a bush-
cent below this figure. Bayers' rmlsfanpw
to seller*' asking prices has beam very
el*- the October estimate pot it at 18,338,. pronounced since tb* Britteh restriction
the consequent congestion portation cable. A h e a v y burden Is change In financial conditions, except BOO busbelB The total *w the United, _legislation went into effect. There is
" ^ 5 _ ! to
nothing 3 , indicate
f 5 f? a lower price ]•**£ la
What i s more, even the most con- to manageable proportions. ants,, b a n k s and loan companies found to t h e disproportionate relationship cleaning up of the stocks o f products 2,000.000 more tbaa last year.
Review of 1922 Shows Hog servative officials here, f a r from fear- reduced These developments are all helpful, when they began pressing f o r p a y - between t h a prices received for prod- yet In original hands. The holiday Export* this aeason have been tar short Iron.
be said.
ing such measures, welcome them, and afford t h e toaala for a revival of ment on overdue paper or a c c o u n t s ucts and those paid for finished c o m - trade h a s been fu|iy up to that of of last year. Prices were unchanged last
Offerings Below Figures provided they d o not g o too far. business a n d industry o n sound lines. that t h e farmer w a s unable t o m e e t modities, a c o m m o n source o f farm last year and of a generally p r a c - week.
ALLBNTOWN, Pa.," Jsn. • . — P P
tlon* are being made t epot in btHHt?
for 1921, E v e r y body admits that conditions his obligations; he had n o t marketed dissatisfaction. The year's experi- tical quality, Luxuries a r e coming P i g Iron. i million-dollar stack of t i e Thon
i n B i y o p e are a real obstacle in the Elements of .Uncertainty. his wheat. ence h a s added t o political unrest back slowly. CHICAGO, Jan, 2.—Pis- 'ron buniness icompany, Hokendaueaa, Iron malUn* I
Receipts for the ^vear iust closed i ^ * * " f o u r e ° o n ° m l c development, "There are, however, factors oper- W h e n in early autumn there w a s from this source* Tho motor car continues to attract, holds up remarkably well, Although in- [to be resumed about J»nu*rr IS,
on t h e " l a V l u f M o Hvestocfc market ! a " i * n f °US »«ta«on. with Europe. ating which contain elements of u n - again something like normal m o v e - and sales during 1922 have, been t h e iuiries are for small lota AutomobiW
wej-*s: Cattle, 178,850; hogs, 1,470,- political and commercial, are very certainty a n d make It difficult to d e - ment of trains the interior waa w i t h - Banker* are Cautious. largest in two years. N o r h a v e shipment, the aggregate tonnage ii larger]
real factors in that development. Any Banker* a r e keeping close to shore there been marketed only cheaper than usual at this season. DALLAS. Tex., Jan. %,—The Southwaw*.
•38; sheep and lambs, 875,000; calves, out oars, or, if cars were available, Battery Manufacturing comeany ' wi
246,00" expert will • tell you that w e can't termine t h e nature and extent of t h e without motive power. E l e v a t o r s a n d in loans, a n d their attempts to liqui- ears; t h e medium-priced machine h a s A revival of the buying movement of!
reach the goal of full prosperity w i t h revival which I* In" progress. Owing mills had many buyers, indicating that the last two or three weeks, which wit Iopened a plant here for making sutsaij
were filled to the roof; buyers date loans long standing have been cut short by the intervention of the hoi- j bile s:id radio storage batteries.
Cattle, Europe in t h e mess she i s still In. to ihe restrictions o n Immigration unceasing. They h a v e endeavored to there i s a t least credit for expenditure Idays. is expected by leading broker*.
Cattle prices for the past year But i o m « experts here a t least will #-.»d the general resumption of Indus- could not move the accumulation, a n d place their affairs in sound condr- in this direction, Farmers w h o have While purchases have been large in many I
showed a gradual advance from tell you that w e can g o a lot fur- trial activity t h e country i s already farm. producers held their grain o n t h e
suffering from a scarcity of labor T h e whole machinery of m a r - tion and' when loans become hopeless not been hampered by speculation, instances, it 1* believed that a great deal [
m o n t h t o month. January, 1922, w a s ther than w e have gone- s o far, even which is embarrassing somarllnes of keting waa upset. h a v e taken their losses rather than who have not J r i e d to b u y all the more iron is needed tor first-quarter re- I
the low of the year with shipping j without Europe. Not—until close t o t h e e n d of t h e struggle with worthless paper. T h e land that Joints them, h a v e lived quirements of consummers.
steers selling at $8 and best handy
steers a t $7,88. In December ship-
Men
Cheerful About Conditions,
like Hoover are f o r the m o -
business and leading w n l g h e r wage
scales where; lowwr w e r e expected a year did a measure of relief
year or two ago."
s h o w country banks have thus partially within
Itself; then cars began t o c o m e W e s t , cleaned up their alow accounts. The sition;
their means, are in nt>iind p o -
others are getting back
Hosiery.
PHILADELPHIA. Jan. 2—Hosiery re- J SANDELL, F. M.
ping steers w e t t u p to $11.76 with through the gate of economy a s taller* have bad ,n excellent Christmas I
beet handy steers from $10,25 to ment more cheerful over employ-
ment conditions
$10.50. Yearling steers sold at $18 present working of the business cycle and t h e favorable
"The railroads a r e suffering from released in part from the d e m a n d s war finance conpJratlon has aided rapidly a s possible. The coming s i x trade in men's silk hose, and some say it \
undermaintenance a n d Inadequate made b y t h e Industrial demand of greatly in caring' for the burden, and months seem likely to show continued was better tbaa any previous year. Mas- j REAL ESTATE
towards the close of the year. equipment, a n d a r e finding It dlffi - the E a s t . P r i c e s of w h e a t a n d corn, It h a a been most helpful both to ufaeturer* predict that today** price* on I
1540 Main St. Fit 0519
bout tariff cult to move commodities to meet the now ready for market, stiffened a n d theee goods will prevail for the seat six j
month*. They look for a areata*- im ail mi |
*. That demands of business, w i t h resulting I producers -were, ready to sell. for sfflt stockings for men. Clocking* wilt |
y are not congestion In manufacture a n d trade Slunrglshly. but still with m o v e - be aeen in two-tone cambiration* of Vast- I
1,470,43$ bead, or • light drop from I mighty depressed about Europe. N o - and dislocation of prices. A s a con- ment, grain began to m a k e i t s w a y during the year, were t h e culmtna are certain of their position. T h e ous color*. Two new shades for ana's j OUNTY Court, Brie County. State o f C
1921 when 1,586,983 were received, [body could help but be. sequence farm products a r e selling towards seaboard, the producer b e - tlon of the long strain under which I progress a l f a d y made gives confi- wear will be gun-met.il and otter. Yortc. Daniel E. K:.. w.i- n Pllljlsmf,
against John' C. Barrett and bis wife, if i»rty,
They were better however than 1910 Domestically there is still one bad too low a t the farm a n d t o o high at gan t o c a s h h i s checks and s o m e - the froeen loans had placed the In- dence that there is light ahead. ; Silk Piece Good*. her name being unknown to the plaintiff,
when 1,334,3S6 were offered. High spot, a n d that i s the farmer, partic T the distributing centers. Undermain- thing like normal activity In t h i s l stitutirsns. Perhaps not all the re- 1 e
NBW YORK, Jan. 2.—Manufacturer* ef !Jacob W. Bayusa and Cora L. MeBsegne/,
prices during last year were in ulariy the grain farmer. Conditions tenance Is affecting other lines, and field w a s resumed. B u t t h e four (adjustment h a s yet come, but every Eager little friends.— always •ilk piece good* are busy on orders for; Defendant*, Susmraaa.
March when $12,35 w a s reached a s have Improved immensely In the last apparently Is Itself t h e underlying months of congestion laid a h e a v y effort I s being made to assist those ready to help yot»—the Want Ads." January" and February delivery. Dyer* Ihereby To the above named defendant*: Too are
summoned to •main the earn;.-
compared with a top of $18 i n 1*21, year f o r him. The market for a g - basis for much of t h e year's activity. in this action, ami to aery* a copy of yoaaF":
during the month of August. Low ricultural products has been restored "At the s a m e time the uncertain answer or, if the complaint i* not ser**st
prices during t h e past twelve months' to a considerable extent. Corn that state of Europe a n d the disorder of with tola summons, to serve a notioa ef
were in January when they ranged w a s selling a s low as 16 cents in foreign currencies and the foreign e x - appearance, on the plain tiff's attuiaejBS
western Nebraska a year a g o is now changes have impaired the corrective within twenty day* after the serrioe ef tall
from $7.50 to $8.14. The low mark summons, exclusive of the day of sBrvtoi,
In 1921 w a s during December when bringing from 55 to $0 cents and the forces which used to operate in nor- In case of your failure to appear or **'•'•*?.
a bottom of $7 w a s made. Judgment will be taken against yon by d*>
fault (or the relief demanded to tb* coaa-
Sheep and Lambs. plaint.
Total receipts of sheep and lambs
In 1922 were 875,000 against 1,070,-
175 In 1921 and 863,319 in 1920. May
Open I
Trial desired in Erie County,
DESBECKER, FISK, NEWCOMB at BLOCK,
Attorney* for Plaiotiff,
, No 605 V S, Morgan Building.
of last year s a w peak prices for
lambs when springers reached $18.
The low tide came in January and
July when best lambs dropped to
Saturday Evenings .Buffalo. New York,
Dated. December 9th. 192!:.
To John C. Barrett and hi* wife, if saw;
The foregoing summon* is served upon WM
by publication pursuant to an order of
Honorable Thomas H. Noonan, Brie Coaatw
$12. Sheep were high In March when
wool wethers brought $12.50 and
e w e s $11. In May, clipped wethers
were $10.75 while the best prices for
House Founded 1865* From Judge, dated the 21st day of December.
1022. and filed with the complaint in IMS
office of the Clerk of tb* County of Erie
at Buffalo, Mew York,
DESBECKER. FISK, NEWCOMB A BLOCS.
yearling wethers were $15.10 In Feb-
ruary. S h e e p were low in January
with the best aged wethers at $8.60. 5 to 9 O'Clock .<•#>*
J
Attorneys for Biatatlff.
605 D. S Morgan Buiidinj.
Calves.
Receipts for flatves for last year
were 248,007 against 258,100 In 1921
A. J. WRIGHT & ^CO. .
Buffalo, New York.
toa*,9,ia.23.30feb9aVlB
"^OTICE of Election of Manager* of tb*
X* Buffalo Historical Society — Notioa to
hereby given that the annual meeting ef
and 248,925 in 1920. Top prices for
the yeai were established in Janu- Members New York Stock Exchange , 7,
the Buffalo Historical Society will be b**}
at the Jfodety s building, in Delaware PsrK
ary, September and December. Top •>; tt' ; Buffalo:-N. V . on the 9th day of Januarg.
1923, at 8:30 o'clock P M., for the pufC
veals reached $15.50 and sagged in pose of electing five Manager* for the teres
April to $8.50. of tour year* toroeased Messrs. Loran L.
Lewi* Jr . Frank H. Severaoos. Seorgs 1
Staple* and George *A. Stringer, and to * •

CURRENT ROSSIP ON STOCKS—BONDS Seventy-seven Years the vacancy caused by the death of Carltoa
R Perrtoe whose term* of office then ex-
pire: fur receiving the annual report* oftaB
officer* of such corporation, and for to*
transaction of such other business aa may

WALL S1REE COTTON—GRAIN of Public Service BUFFALO SAVINGS BANK

property COBS* before said meeting.
\ HENRY W. HILL,
X
Buffalo. N. Y„ December 26, 1933.
President,

* d*G2rJ*Jaaa
Hi Frtvaft Wirt t» th* The Buffalo Barings Bank waa founded In 1846 rpHE Annual Meeting of the StockboM.
X of Jewett a Company, will be held" L_
Muffalo Evening Kmm.
by a group of public-spirited and prominent citizens, the Safe Deposit Department ef the Mantt-
Oil Stocks Strong.
The advance of 25 cents to *3.2^ and Is today the oldest bank In Buffalo. The growth Statement January 1, 1923 facturer* nud Trader* National Bank, Buf-
falo, New York, on ths 16th day of Jmi*-
a barrel of Pennsylvania crui •ude oris [ ary, 1*23, at 10 o'cloek A M, for the pee-
has been promptly reflected in the of the bank haa more than kept pace with that of the > post at electln* five Director* tor the *«*«*
I Jog year and two Inspectors of election to
market for the domestic oil stocks.
This action has
well .informed p*x
perted bv
sifter the
212 Erie County Bank Building city. Today the number of Buffalo Savings Bank ASSETS
Bonds and Mortgages $29,895,837.50
; serve at th* neat Annual Meeting, and fog
; the transactio.1 of such other businea* a*
I may properly come before said meeting.
start i f the It H depositor* la twice aa large as was the entire popula- i Poiia wilt remain open from 10 to iO:*B
l a . M, Transfer book* will be dosed frea*
ime. Th" And Grand Court, Ellicott Square tion of Buffalo when, the bank was founded. U. S. Government Bonds .. ,. 7,205,973.49
M j January otb to Jaaaary i6tb, 1923. botb
r of Pcnn- I date* incluuve
«>ivdiua * • followed
M I . ! •Continent
Bonds of States, Cities, etc*. . 10,722,549.46 SMEBMAN S. JEW
by an advance in
erudrr within tl next 30 days, and
In the past decade this consistent growth haa Bonds of Railroads .......... , 7,194,680.73 Buffalo, H. Y. December 37. 1933
f*a*sS*St>

the stocks of Biirne companies h a v -

ing an interest in the Mid-Continent
territory were
lair, Marland Phillips Petroleum
and (""osden Were
the rtue w a s equally pronounced In
other oils, like Standard Oil of Cali-
fornia and the new standard o i l of
N e w j e r s e y . T h e higher prices which
me effect I
production of about ltfi.OOQ barrels
of fine grades of crude pefrolrum.
The Quotations now stand where they
Were just a year ago. Two years
a g o the price of Pennsylvania crude
w«n $8.25 a barrel, in .Inly, 1021, it
had dropped to I M S , and hetween
last January and today the price
had fallen to $3.
Low Priced Shares.
Several bra hottses report
ajiite a bit of "I 'ting of accounts
Info tow priced kh ,-y T h i s BV
tng is being <l«iee*l
aold out high prlc
|oc*k for sonar stoc
trade* who have
s and now
which have been
selling around 10 id up to 20. In
this group are Callahan Mining, Butte |
Copper and Z i n c Packard Motor Car, j
f i f t h Avenue Bus, which Is a new- I
comer on the Exchange;
and Nevada Cupper. Tennessee •
per and B
Situation in the metal Issues is well
known. Callahan and Butte are sine i
been no lees marked. The bank's resource* Demand Loans . . . . . . 14,200.00 iaaSa*
'CTfCSl Or* ANNUAL MKKTINO Ot*
irona.
783,734.76
N STOCKHOUOBBS — Notice 1* hereby .
,;md, hut
January 1, 1913, war* |37,798,S88,«3 Banking House •. i given that the anmnl meeting of tost «i >•*
1 holders of Globe Elevator Ootnpan* *
W Jaaeary 1, 1918, were 148,307,788.54, aaa Cash on Hand and In Banks 1323,519.08 ! heM at offices of tb* company at R
| Chamber ef Coiamarns BalMWit to tb* ana**
i of Buffalo, N, Y. ea the l i t * day of
Jaaaary 1, 1993, an 958,097,939.78 Interest Due and Accrued . . , 447,137.73 I ary, J9-»3. at 4 o'clock in the afternoon foe
daily NEW YEAR GREETING The Buffalo Savings Bank 1* an Institution con- $58,087,632.75
I the utectWO of directors -Und tb* IraiaiHirttia*
jot -MKtt otber MMoeM a* may pruueiay
leeatii before said merttag,
BENJAMIN F. MAJSR
ducted solely for public service and not for private
profit. It provides absolute safety for savings, a jTOCKHOLDEaJ' Meeting — The regular
F. N. Burt CO.UA conservative and sure Interest return to the depositor,
and th turn employs the money entrusted to Ks care
to promote the sound, healthy growth of our city.
LIABILITIES
Due 66,107 Depositors,...., $52,091,675^4
i M annual uawtUn »( tb* sbareboliv
I the Buffalo Dincount Coronr
h Y . tor toe etoetioo of Director* to sere*
I for the ensuing year ami for th* transsctto*
I of •«<* other bouiiese a* mar come MgggS
' it. will be beM M Vm atflca of an
tlon at 1120 Martae Trast BatMlng, In te*>
SPECIALISTS IN During the year 1993, th* bank made 938 new
mortgage loans on Buffalo real estate amounting to
Surplus, Inv^fcsient Value . . 5,995,956.91 1
i city nf Buff »to. ea to* » • Meoday of Jan* '
iarr, 1»S*». *t 10 octock, A. M,
J. S JOLISB,
IP A P E R B O X E S 9o,Sww,*wOOO*t5%. $58,087,632.75
.
[ Buffalo, B. Y.. D***a*B*r S*. IK
•kJOTfCB 3t Anmtal Meettog. l*1»»i
XV notice that th* *nn»*l ajHMM l
Dallwood Elevator CoanNwy. Inc.
aufbo** *f electing ri* I « I dlrecto
PAPER CUra inspector* ef eleeBoa snd Iransartln
other bWaaiMM as- »•»• tHuto'U «•**«
tkto aststiwK, srtH be tuM
company on lb* gaartiitrg Tuisajks),
lag. TIN | City of Buffalo, > •'<* ttk
a ex- BURTCUP—the perfect cup. Interest at the Rate of 4% Juroary IMS. at
Dated, Buff*:J,

Wherever you find the pw annum was credited to depositor* January 1,1923, Money deposited en or
pound and strong. Packard Motor
$1 motor stock and earnings are
bwfore January 12, 1923, will draw Interest from January 1. Interest will be ; .A of B i t : .
axceOent. Fifth Avenue Bu* is said BURTCUP efrtered on pas* books commencing January 15, 1923. line., wtll berartd»* I
laWr Mato ss*4 Bagbt tMrv
to he earnings 18 a share, Bpfeef :
{York, »* l:Stt o'«"--
officials expect this compar.v to have You know that your welfare Irttereet paid en sums from $1.00 to 95,000, Interest is paW on quarterly bat* jtorraary 1«. l a s s , toe t b a ^ B f a
Its beat quarter in the firat tnTee I tor*. *«••* i«*p»
months of 1928, while the first half has been thoughtfully anos* and Is oredited o" January 1st and July 1st. Deposits and wrmdrawals j traastaetto:
year Is expected to show earningifxT" - — — sSaUSTat. BBBBfcJBM^BasTS*' ••**.* asaa*. 4*1 l l . . . I property eeaaa b*lor*
the rate of between IT and t i a share S**S*BkaBB*.-** B> sWBSBBBSBBBV^Bk^al
ean oe maoe oy man. j Bwftoto. M. Y
e n the eommow. _ » consiaerea.
Raffsln Wram Market.
CO*K—No. t r*n«w, 14*1 No, I »*|.
few, l i e ; He, I F*l!ew, last No, I y*|.
OATS^-No a white, t i e ; No. I while,
«le; No. 4 » » « • , «te
"'•" ' »i i ''•*

Railroad*.
• 'ii Seneca and Hamburg Sts. BUFFALO SAVINGS BANK
-WA»HINQTON. Jan. J.—The Cast em
Maine 1raUraad ayaMad - to ths Intaratat*
fies**** ! i!* esajiaiatstiia far- w*rsil**ten ^e
k f t f lf.fM.ee* In eaoftal sloeV with
Buffalo. N. Y. MAIN AND GENESEE STREETS
seftieb to onfld a »*w he* frowi Hearts* y
or, M*„ eonneeUat with tit* Main*
,.*V * je",«,V ' **» --."H '• F*.
Untitled Document

Thomas M. Tryniski
309 South 4th Street
Fulton New York
13069

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