Evening Star Newspaper, February 8, 1921, Page 19

¢ - TO CONSIDER TAXES BANKERS TO ME Especially on Liberty Bond Earnings—Calls for $58,- 000,000 Cash. 4 BY L A. FLEMING. R. N. Harper, president of the Dis- trict Bankers' Association. has called @ meeting of that organization for next Friday afternoon at 4:15 X for the purpese of considering action of the assessor of the Dis- trict in including the income from liberty bonds as taxable earnings and subject to the 6 per cent gross earn- A o'clo fnes tax in lieu of all personal prop- erty tax. Banke gencrally consider the taxa- tion unjust. ami can sce no good rea- | this it should be imposed n there has been no ruipgs from liberty in previous ye: son why year. wi tion on e uthorizing th liberty bonds specific the income from certain amounts of bonds “on, income from an agzerezate of §5.000 bonds” and specific exemptions were made with Tegard to other amounts. Draws Down Nearly $35,000,000. ' The Secret of the Treasury served notice ational banks hold- | ing jroceeds in from the sale| of the January sues of Treasury certificates to pay into the federal re- serve banks of which they are mem- bers 40 per cent of the balance of such fu on hand. \is means the withdrawal of about $58.000,000 and will produce ne- thing of an additional stringency in the mopey market. The reserve board is right in expressing the opinion that banks may now distribute their] holdings of certificates, if they so de- banker made an effort to 1, per cent Treasury cer- ew York yesterday at informed that a siignt expected, 100% being in par. but wa premium was This further encourages the belief that the next issue of Treasury cer- tificates, which will probably come with February 15. will be at 5% per cent, with suflicient conservative in- vestors holding aloof from new ven- tures in the general bond market to take whatever amount of certificates retary of tle Treasury may to issue. The listing of the Washington Gas per cent notes gave the local market a | snew security and a chance to develop moderate trading therein The first sales Tor small lots were at 101, and then the | market gradually deciined to and re-| mained steady at par, the flotation price. The $100 bonds were saiable at a smaul promium. All things considered, the initial action was all that couid be ex- ted. P Fhe Test of the market was slow and | uninteresting. Light sales of Capitai Traction shares were made at 85. aud a sale of Security Savings and Commer- cial Bank stock at 200. ‘Bonds generally were neglected. Rail %way general mortgage 6s brought 90%. Plan Stoek Issue. Alfred E. Berry, president of the Ches- apeake and Potomac Teiephone Com- pany. appeared betore the Maryland Public Service Commission yesterday and filed a petition for authority to issue $15,000,000 of common sicek with which ¢ to retire pract Ly the entire amount of the company’s indebtedness. i FINANCIAT { Atlantic Gulf. The ‘imacbicdness of Uie cOTPOTLC | Gen Asphalt.... 6% tion is held chiefly by its owner. en Asphalt pf.... 06% 1 ) s American Telephone and 1‘xl|z;rri§:!G::Ui’:a,. o 1 i o C:’;';,':’-;znyi;hh-h;;lli"‘!‘l)‘«"ni)mtxb“vmux::;;ulm. Gen Electric 12i% 12 % 1:7% 120% | American Security and Trust . e Miocal excnange, It hat | GenMotors....... 13% W% 3% 1% Continental Trus nme‘;“h“d by the A. T. & T. Co. to |Gen Mot 6% deb 3 % 66 66 | National Savings and Trust the amount of $14.490,060 and de- | Gilliland Oil pf 89% 89% 8% 8o | Lulh TESL, ool Sires convert these into $14,500.000, 8o [ Goodrich. . ;3 3% % 3M o R A Gommon Stock, having been previous: | Great Northern pf. €6% 76% 5% 6% | commerce and Savings 1y miven that right for $14,500.000 # | Gulf States Steel.. 3% 33% 3% 33% | Kast Washington . that the new plea is only for the | Homestake....... 60 60 50 60 | Merchanty - right to make an additional issue of | Houston Oil. 72 69% 71% | Security Savings and Commercial 200 $500,000 common stock. Hupp Motors. Lk IS e daw | Soveath Streel Savings 1 Contreller Opposes Alliances. linois Central.... 8% 8 8% 8 ! United States .. 212 In his last annpal report John {Inspiration... 4% 5% 8% 5% | Washington Mechanic’ 2 Skelton Williams, controller of the | InterboroMetro... 6% 6% 5 5 FIRE 'INSURANCE. currency, urges the separation of i InterboroMetpf.. 15 16 15 15 | Arlington o Security companies from banks. Intl AgriChenfpf. 5 ' 60 60 go |gorcoran 0 N\ deciares thai such companies, “as | Intl Harvester.~ .. %M 6% (% 9% | Loonel’s - = ,an adjunci of national banks, have |int] Mer Marine... 14 4% 14 14% | National Unon % become an increasing menace to the | [ne) Mer Marine pf. 50% b52% 50% 624 stability and safety of banks with | ) Nickel D 6% 6% 15 1% | Columbia Title - . xi""‘:?.e'hfieefiiu‘s‘-’fmfl:i-‘}ixzfi?"i? Intl Paper. 56% 68% G6% bg% | Real Estate Title =0 kg some securities companies. Lavinetbio ot et b S o BTOCKE. Mutual Fire Election. JewelTen. . 7 o1 g ,“ W. A. H. Church was elected presi- | Jones Tea......... 28% 2% 2% 2% t and treasurer of the Mutual Fire { KansasCity Sou.. 19 19% 19 19% Insurance Company of the District of | Kelly-Spring Tiree 45% 46% 45 4gy | Mersenthales Linotype . Columbia for the ensuing year at the | Kennecott 1 1% 19 19% | OF Dutch Market com ;‘xu-s-;lh,l_n?“fll meeting of he|KeystonedPire.... 13% 1% 18% 14% | Lanston Monotype oard of managers an Tectors yes- |y .. Tire & Rubber 20 20 20 20 | Security Storage . terday afternoon in the company's of- | ‘oot h 51 &2 Washington Market fice, at 13th and New York avenue, | ehigl ¥ooaen 51 62 S Other officers were elecied as foliows: | LiBgett & Myers pt ‘?g: ‘m “E: 106 L . 165 L P 1% 1% 1% 1| SHIPPING LINES CLASH. MacGill, assistant secretary. W% 13T 157% 131% o The entire membership of the board | Louis & Nash. 100 100 100 100 |Question of Allocation of U. S. of directors was re-elected for the | Mackay Cos pf. 5 61 61 61 coming year. The directops are W.|ManhattanElev... % 6% S5 66 Ships Brings Protests. “A. H. Church, R. Harrlson Johnson, B. Martin-Parry The question of allocation of gov- E. Siul, Jo T, Petty, Car! Kattelman. | yexican Pete. ernment-owned tonnage far 8Serv- ‘1;’,"“.3 £ gt -:,”1&“?:;6&30;:; ", | Miami Copper Ace in competition with privately il m«'fl“ ey mnudfiby the | Middle States Oil.. 1% 13% 13k 18% owned vessels brought about a Rt o Eduk TE Prin Midvale Steel..... 0% :0% 30% 20%|Clash between rival shipping com- A 'Eold watch was presented to Mr. |MinnStP&SSM. 71 71 71 71 |Ranies operating vessels between the Boteler on behalf of the directors and | Mo Kan & Tex. 6 Mo e el LTINS and Bacils coasts yester: officers, in recognition of the comple- | Mo Kan & Texpf.. % &% 4% x| 957, Pefore, the Shipping Board, tion of Twenty-five years’ service with | Mo Pacific. . 1B 19% 18 19%|United Amerioan’ 13::;,“:" efiu‘he b - : , n zhe company. Mo Pacificpf...... 39 40% 50 4% |company for tho American Ship and 16% 16% 16% { Commerce Company and the Ameri- 8% 28 can Hawalian Line, controlled by the INVITED TO AID MEXICO IN % 4% 44 Harriman interests, protested against Natl Rysof M 2d. 6 6% 6% 6% |operation of government tonnage in L M Y Nevada COpPer.... 1% 11% 1i% 11%|the intercoastal trade by the North SOLVING MONEY TANGLE |NeworTex& M.\ 11~ 7 7 1315 Atlantic and Western Steamship Com- S N Y Central. . 2 o pany, on the ground that such a pol- NEW YORK, February 8.—Senor|NyNH & HAM. zf,‘ 23;/; ;f,/ loy placed a hardship on Deivats Manuel C. Tellez, Mexican charge |y Ont & West. e 4| owners, by putting them in competi- d'affaires in Washington, was a vis- |\ L0 o oo 17 17%] tjon with their own government. itor at the banking house of Speyer | ZOTP 0 50 Al 9% 99 9%9%| Charles E. Ware, jr., of Boston, & Co., and it is understood he called | Northern Pac! 8% &% 84 |prosident of the lattir company, by direct order of President Obregon |NovaScotiaSteel.. 34 34 3 3¢ |contended that it woula be againgt 1o express to James Spever the de- | Oklahoma Prod. 8% 3% 3% 33| the policy of the board to withdraw sire of the Mexican government to|OtisSteel....c.... M% 1% 13% 13%|ships from a company which had discuss with its creditors a suitable | PacificOll...ceeee. 24 34% 3% 384 | been In business before the entrance settlement of Impending financial | Pan-Am Pete 2% 4% 7% % |of & private line into the trade. ;,ufinlion& Speyer &tco authorize the | Pan-Am Pet®(B). 6% 6% 6% €% y ollewing statement as a result of | pennsylvania..... 40% 40% Semor Tellez's visit: e S SIC “We are very much pleased that the P’;‘:,i.:’g‘:f‘“'“ ans g:; ;‘K ::9; GIVES ALABAMA CENSUS. present Mexican government is tak- ey : - . ia & Eastern.. 10 10 ing up in a sensible business way the | r,cor 10 10 |Bureau Announces ula- adjustment of.its financial obligations, | LeTe Marquette... 1% 1% 17 a7y WhiteyRop We have during the last thirty years | DhilaCompany.... 82% 33 g7 g3 | tion Increases; Colored Decreases. placed with investors here and abroad | Phillips Petroleum 26% 251 263 263, < amount of Mexican securitics. | Pierce-ATrow..... 2% % 241 K] op Tr e, Pohilation of the state Iutercst on these securities has be me:ce-&;rowvfu . W Cvse e f;f,.‘c&a:’:dly:pulfiflom:s":génozfizi o n defay or over six y erce .. 10% 10! B a wre very willing to aid the govern- | PittsCoal...... s e s S e e O e LD ment in every possible way in Testor- | Pitts & W Va % 204 29% %6 | of 118,500 oF 17.8 per cent, and the col. Whether Mr. Spever will he able g:illl::ldnsc(:fl Car. 9% 9¢ 1::: ‘g or;dtf’n{»ulan.on decreased 7,630 or 8 o to 1 Anno b al ! s ;‘;m'fe {,u(“;f’:m; gnac f:;md::':l':" i | Punta Alegre..... a% 41“ P*Males In the state numbered 1,173,- Will co-operite with the Mexican gov. | F2reOl.-..c.ccco 8% 25 344 35 |105, an increaso of 9.2 per cont, and the erument in its commendable efforta to | Kay Con Copper... 13% 18% 1sl 11y |females numbered 1,170,063, an increase » Rosalag:. 82 §3% 1% sare|Of 105 per cent. Tho forelgn-born white B bt o e s | Reading 1stpf. 1) 52k 63 g2 ga " |Populstion in Alubuma numbered 17,662 of revolutions, and to secure for the | Reading 2d pf. 50 e plg | VPEE SENIMFSLERES I t0i0; bondholdeps the best possitle settle- | Replogle Steel 3L 21 8 ST TSy S 3 ment and as quickly as possible. We | Kep Iron & Steel.. €% €6% icve that the proper and prompt set- | Rep Iron & St1 pf.. 9% 4% :;.v: :2 VISIHLE SURFLTOEIGRATN. ‘ment of its fnancial obligations | Rep Motor Truck.. 21% 21% 214 215 | NEW YORK, Kebruary 8—The vis- will £0 far toward enlisting public | Royal Dutch...... §1 6% o ible sapaly of Amsrisn and bonded sentiment in the United States favor- | St L& San Fran... 20% 21% so% or | Erains #-own the following changes: le to a recognition of President|stLoulsSouthwn. 2% 2% 3% seg| Nout decrewscd )607.000 bushels. Qbregon’s governmaert.” St Louts Sown pt.. 38 2% 28%| Corn increawed 8,064,000 bushels, Sl G 3:% ':v. "% Oats incrasaed (64,000 bushols. = & G Rye decreas ,000 bushels. 48c. EGGS IN BALTIMORE. |5oar fg:g::r Eets @ & | Baridy increased 79,000 bushels. 4 S —————— BALTIMORE, February 8. — The |Shell Trad & Tran. 1% 41 2 son “hivlesale price of eggs dropped to 48 |SinclairOil....... 2% 2% 2% mw| GOODYEAR RUBBER PLANS, eents yesterday, with even lower |Southern®Paclfic.. 8% 7% 4 m%| NEW YORK, February prices at some of the shops. The de- Southern Pac ry 18% 19 18% 19 |readjustment ofAhe financial affairs cline began about thr K Southern Rail . 21% 22% 21% 22%|of the Goodyear'Tire and Rubber ee weeks ago, and | Southern Ry pf.... 67% 68 % 68 |Company include the iysuance of prior the price has dropred 11 cents since [Stand Oflof NJ... 153 1:3 13 153 |preference stock, sinking fund deben- Friday. Stand Oil N J pf... 108% 105% 108% 108y | tures and mortgages, totaling $85,000,- The present prices apply to fresh|Stromberg Carb... 36% 36% Y% 3oy |00 counsel for the company an- cigs only, for the markets are now |Studebaker....... 66 6% 46 g1 | Pounced here today. ndling the current production that |Submarine Boat... 8% 8% 8% e —_——— {iS soolie In ol xenty potmtsalmost | Giperior ol 9% 10% % 104 BAR SILVER QUOTATIONS, Superior Steel.es.. 42 42 € @ NEW YORK, February 8.—Bar sfl- Tenn Copper...... 8% 8% 8% 84| ver, domestic, 991-3; foreign,’ 613-8; BUDGET FACES DEFICIT. Texas Company... 42% 43 .42% @ |Mexican dollars, 467 Blviatmal Texas & Pacific..._20% _28% 2% _2%| LONDON, February 8.—Bar silver, Yidret 7 'm'fl"%u" — The Swiss|Texas & PC&Oll. 31% $1% 1 31%|361-2d per money, 5 per 3 r 192 sees a deficit of | Third Avenu 19 I9% 18% 19y Discount Short and three: 123,000,000 franes ~~ NEW YORK STOCK EXCHANGE. Received by Private Wire Direct to The Star Office. Open. High. Low. Close. Open. High. Low. Close. Ajax Rubber. 6% 36% 36% 36% |Tobacco Prod 53 53% 53 B3% Allied Chemical... 45's 48% 48 .48 |Trans Cont] Oil 8% 9% 8% o% Allied Chemical pf 9% 93% 98% - 3% | Transue & Wilms. 40% 40% 40% 40% AllisChalmers.... 3i% 3% 384 26% | Union Oil. oy 2 w2 Am Agr Chem..... 54% 564 641 Union Pacific. 121 118% 121 Am Beet Sugar.... 4's 4% 42 Union Pacificpf... 66% 66% Am Can.. 265 s 29% United Drug. 100 Am Can pt. 85 85 United Fruit. 108 Am Car & Fdy 21% ;% United Ry Inv ;) 2 e e 2% United Retail Strs. 55% Am Cotton Oil..... 2% 2% U'S Food Prod. 221 2% ‘Am Druggists 6% S Indus Alcohol. 67% 68% Am Hide & Lea. 8% Rubber..... 6813 69% 68l 694 Am Hide & Lea pf. 43% S Rubber 1t pt. 103 AriToent 3 U S Smelt & Ref... Am International. 4% e Am Linseed....... 5% e clpf. Am Locomotive 817 L Am Safety Razor.. 8. Am Ship & Com... 10 Am Smelting. Am Steel Fdy.. Am Sugar. Am Sugar pf Am Sumatra. Am Tel & Teleg Tobacco. ... Am Tobacco (B).. Am Woolen... Am Writing Pr pf. Anaconda.... Asso Dry Goods { Wabashpf A.. w | Western Md o | Western Md 2d « 1 Western Pac pf. | Western Union. ... | Westhouse E & M. White Motor.... White Oil, Wilson C6 pf.. o E = Willvs-Overland T % % — ER. g lh'p';f' Woolworth....... 112 112 112 112 PR 0">. - o Worthington Pmp. 48% 49% 48% 4928 Atchison. . Atchison pf. Atlantic Cst L EX-RIGHTS. outhern Pacific selling ex-rights to- Baldwin Loco. Lo A ast, Call Money Balto & Ohlo...... 3% 5 8% 8 | 57 S to & Ohio pf... HOURLY SALES OF STOCKS. rnesdall (B). . 1lam..... 83000 12m. Beth S:'ee] ..... . H 1pm.....171 600 2p.m. Booth Fisheries. Washington Stock Exchange. Bklyn Rapid Trn Butte Copper. ... SALES. Butte & Superior Caddo Ofl... California Pckg California Petrol Canadian Pacific. Central Leather. Central Leath pf. . cerro de Pasco. Case (JI) pf.. Washington Gas at 101 3 glupital Traction—10 at 8 [;5—$1,000 at 100%, $100 at 85, 1 at curity Savings and Commercial Bank—10 AFTER CALL. ington Gas Tlus—$1,000 at 1003, $1.000 LF1L000 at 1001, $500 at 1007, $100 $100 at 101, $100 at 100, $1,000 at 101. 100, Chandler Motor... 70 Canital Tractionl at 86, . o 0o at Ches & Ohio. . 58% s = O Chi & Eastn I pf. 6% SO SLOM RCIoE 2 ChiMil & StP..... 2T Bid and Askeg Prices ChiMil & StPpf.. 41% BONDS Chi & Northwn. ... 68 JBLIC U Chi R 1& Pacific.. 26 S e Ta v Chile Copper . 12% American Tel. and Telga. 4s. 3 Chino Copper. . Amerjcan Tel. and Telg Cluett Peabody pt. 8 D e Coca-Cola........ 20% 2% 2% Anacostia and Potomac 5 LOCAL WHOLESALE MARKET. Becs—Strictly fresh, per doz), 45; average receipts, 43; southern, 42. Live poultry—Roosters, per Ib.. 20: turkeys, per Ib., 45a50; chickens, spring, per Ib., 38240 hens, per lb., 34; keats, young, each, 30a50. Dressed poultry chickens, per Ib., 3 35; roosters, per Ib., 2! 1b., 55a60. Pork—Dressed, small. per Ib., 15a16: medium, 14a15; heavy, 10a13. Live stock—Calves, per 1Ib.. 14al5; lambs, 10a11; sheep, 3a4; hogs, 11%. 002 western, lemons at Green fruits—Apples, per bbl.. basket, per T5a2. box, 3.50a6. alifornia box, 3.00a4.00. Pineapples, per ¢l California oragges, per C ate Tomatoes, per box, 4.00a7.00. Onions per sack, 1.50a1.65 per quart, 1 bbl. DAIRY MARKETS. BALTIMORE, Md., February 8 (Spe- cial).—Arrivals by Young chickens, lLiv 32a40; per 1b. dressed. 35a40: old. live, 34a37; dre: ed, a38; old roosters, live. dressed, 24. Ducks, per lb.. liv Geese, live, Turkeys, live, Capons 50. Guinea fowl, each, 40a65. dressed, per 1b.. 42a50. Eggs (loss off)—Strictly fresh near- by, doz.. 48; southern. 46. Butter—Creamery, fanc 49a50; nearby, 45a46; 23a25. rolls, per Ib., 20a 30a32; process butter, 35a : ladles, 37 store packed, 19a20. NEW YORK, February 8.—Butter unsettled, receipts, 5,661 packages. Creamery, higher than extras, 43%af creamery, extras (92 score), 42'za43 firsts (88 to 91 score), 39 creamer: a42; packing stocks, current make, No. 2, 22. 3 Eggs, weak, receipts, 22,830 cases. Fresh gathered, extra firsts, 40; fresh extras, 38a4l; refrigerators, not quot- ed. Cheese, irregular, receipts. 1.790 held, State, whole milk, flats, Colo & Southern. ! Anncostia Colo & Southern 2d 10 Potomac guar. Col Graphophone. . Col Graph pf. .... Cons Gas of N Y. Cons Intl Cal Min.. Cont Can... Cont Candy. Cont Insurance Corn Products. Cosden & Co. .. Crucible Steel Crucible Steel pf. Cuban-Am Sugar Cuba Cane Sugar. Cuba Cane Su pf. Davidson Chem Del & Hudson. Denv & Rio Gr. Denv & Rio G pf... Emerson-Brant pf Endicott-Johnson. Riggs ltealty 53 (shor! PUBLIC_ UTILITIES. American Tel. and Telga. Capital Traction . v ton Gas Norfolk und Wash. Steamboat. 170 shington Rwy. and Elec. com. 23 shington Rwy. and Elec. pfd. 53 wshington-V irginia Kwy 1 { { American Endicott-John pf. % |Am 185 Erfe...... 10% | Columbia Rl Erie 1st pf 50l CEIT eIy 175 Famous Players. Faruers and Mechanics' Fed Mines & S pf. 21 | Federal . Fisk Rubber. Y4 | Liverty | Lincoln Gaston William 3% | National B bills, 656-8 p’- eent. s, 2 do., average run, 24a 251,; state. whole milk, flats. fresh. specials, do., average run. 22a23%2. COTTON MARKET! NEW YORK, February 8.—The cot- ton market showed renewed weak- ness this morning, owing to over- night reports of easier southern spot markets and continued unfavortble Liverpool trade advices. The open- ing was barely steady at a decline of 19 to 25 points, with March contracts selling off to 13.10, or back to the previous' low record, while May de- clined to 13.52 and July to 13.90. Futures opened barely stead March, 13.10; May, 13.60; July, 14.0 October, 14.24; December, 14.3 LIVERPOOL, February 8—Cotton— Spot neglected, prices weak. , Good middling, 9.38; fully middling, 8.88; middting, 8.03; low middling, 6.8 good ordinary, 5.3 ordinary, 4.38. Sales, 3,000 bales, including 2,800 American. No receipts. Futures closed quiet. / CHICAGO LIVE STOCK MARKET. CHICAGO, February 8 (United States bureau of markets).—Hogs— Receipts, 42,000 head; fairly active, largely 10 to 15 lower than yester- day’s average; spots off more on lights and light butchers; early top, 10.1 bulk, 200 pounds down, 9.50a10.00; bulk, 220 pounds up, 9.00a9.25; pigs steady. Cattle—Receipts, 10,000 head; betier grade beef steers steady; others slow; early top, 9.75; bulk, 7.50a9.00; butcher 2316a25; stock steady tq strong: bulk butcher cows and heifeny, 5.0026.25; bulk can- ners and cutters, 3.25a4.25; bulk beef and bologna bulls, 4.75a6.00; calves higher; bulk vealers, 10.00a11.50; stockers and feeders steady. Sheep—Receipts, 16,600; mostiy steady; lamb top, 11.00; bulk, 9.0)a 75; mo choice matured sheep sold early; bulk fat ewes, 4.00a4.60. STOCKS WERE SLOW. PRICES UNCHANGED BY STUART P. WEST. NEW YORK, February 8.—The stock market today was for quite a part of the time an extremely stupid affair. Of much more interest were the developments in the=forelgn exchanges. Here from the outset there was a vigorous renewal of the buying movement in sterling and a sharp advance, which drew with rates on the continental centers as well. The whole exchange market was, in fact, more buoyant than it has been at any time since the preliminary terms for the German reparation payments were drawn up. Sterling had gpne down from 3.88 to 3.79 on the first impulsive judg- ment that such terms could never be en- forced and would lead to a long-drawn- out controversy which might contain somé@™very delicate moments for allied diplomacy. The subsequent recovery showed a much more complacent second view of the situation, but it was not until today that steriing rates moved for- ward with the energy they did three weeks ago. At today’s high drafts on London were back almost to their previous top. That this betokened a growing fecling_ of confidence In the settle- ment of the all-important reparations question was not to be doubted. It was reasonable to suppose that this feeling was_influenced by the dis- closure in this morning’'s news that the expense of the army of occupation had been cut down $300,000,000 a year, a sum almost equivalent to the 12 per cent tax proposed on German exports. This was a development which ob- viously p aced matters in a much brighter light 8o far as the chances of German acceptance of the recently drawn up settlement plan were con- cerned. For the first half of the day the stock market lay almost motionless. ‘The only incident of any concequences at all was a drive against the sugar &roup, based upon the anticipation of B very unfavorable report by the American Sugar Company tomorrow. American Sugar stock was down at one time over 8 points, but when traders offered down the other sugars they met with one of the sharpest checks which recent bearish endeavors have yet received. Cuban American, Cuban Cane and Punta Alegra, after glving way a point or 80, recoiled against the short sellers almost violently. This was an effec- tive demonstration in a critical quar- ter of the extent to which unfavor- able trade conditions have been dis- counted at the present price levels. At the “same time, however, the market for faw sugar had a_ better, tone than it has had on any day for some time, and the obvious tendency of raw sugar quotations to harden had, of course, had much to do with the prompt rally in the sugar stocks. Southern Pacific, dealt in for the first time ex-rights, opened higher. The first sale of the stock. joined to ti first sale of the rights, made up t equivalent of 97%, as against last night's closing of 97%. In the subsequent dealings both Southern Pacific_rights and the new Pacific oil were decldedly slow, while Southern Pacific stock continued stronger. It acted as if relieved because no longer having to be weighed down by the liquidation which has been going on very steadily in the rights since the outset of the ye: More notice was taken of the difference between South- ern Paeific reduced to the status of a ‘plain rallroud stock and Atchisén. ~ boat—Poultry— i Pigeons. per pair, 45a | per 1b., 481 gathered firsts 35a39; state, Pensyl- vania and nearby western hennery whites, firsts to extras, 39a44: do., browns, extras, 42; do., gathered browns, extras, 42; do.. gathered browns and mixed colors, firsts to| GRAIN AND PROVISION BALTIMORE, February 8 —Pota- toes—White, No. 1, per 100 Ibs., 1.40 a1.60; Cobblers. 1.40a1.60; McCor- micks, 1.20a1.35; No. 0a75. Sweets, per bbl. 3.00a5.00. 4.0024.50; No. 2, both. 2.00a2.50: Beans, green, pearl and w. a6.00. Beets, crate, 1.75a2.00. Cab- bage, per ton. 10.00a15.00, Cauli- flower, crate, 2.25 Cucumbers. box, 7.00a8.00. crate, 5.00 a7.00. Kale, bbl, Lettuce, basket, 2.0023.00. per 100 1bs., 1.00a1 O3 . bunch, 8a Parsnips. bu., 1.25a1.40. Pep- crate, 3.30a1.00. Radishes, per 4a5. cabbage, bu.. S0a pinach, 50a65. Peal Yams, 0. 2.50"] 1% al.40. Onions, per: bunch, Apples, THE EVENING STAR, WASHINGTON, D. C, TUESDAY, FEBRUARY™ 8, 1921 Grain, Produce and Live Stock! JATEIT % Commercial x Accounts Safe Deposit Boxes thly State Money to Loan Secured by First Deed of Trust on Real Pstate. Prevailing_interest and_commivsion. Joseph I. \\'el{er ;;W;g" & Truat Florida_oranges, per c 5 50. Grapefruit, per crate, 4.00a5.00. | ?rinbul;sa.mxx? Vegetables—Potatoes, nearby, No. 1. 3.00a4.00, per bbl., 2.00a2. do., No. 2, 1.00a1.25; Grapefruit. 3.00a Tangerine northern, per sack, 2. 50, sweet PO- | sipn. 5.00a8.00. Cranberries, bbl tatoes, per bbL, No. 1. 440z, 00; No- 2 [14:00a18.00. ~ Strawberrics, qt.. 3037 | 1.50a2.00; yams, per .5024.50. 2 SELLING P! 2 tirce, Florida, per.crate, 3.0023.50. Ce!-{‘ SELLING PRICES AT NOON. v. per doz. 1.00a1.50; Florida celery 0. 2 red winter, spot, 1.80 23.50. Remaine lettuce, 1.252.00. ter, garli h, per bbl, 2.0022.50. Cymbl ruary, 1.72; March, 1. crite, Florida. 4.00a4.50. Spinach, bbl.| Wheat sales—None. | 33024.00. Peppers, per basket, 3.0024.50. { Corn—Cob, new, yellow, 3.75a3.85 ! per barrel, in car lots; contract corn, ! el; 'February corn, 3 frack cor, veis 2 or better, 80 per bushel! les—None. ! 0. 2 white, 47% per bu; No. 3. | | 46 per bu. Ryc—Bag lots of nearby ryve, as to| quality, 1.50 per bu. asked: No. 2 west- | ern export, spot, 1.61% per bu. No. 1 timothy, nominal 0 No. 3 timothy 0. 1 light clover, mixed, 24.00a24.5 0. 2 light clover. mixed. 22. No'| 1 clover mixed, 23.00223.50 ; No. 2 clover, | mixed, 19.00a22.50: No. 1 clover, 25.00a | 26.00; No. 2 clover, 19.00222.00; sample | . 15.00220.00. | Straw—No 1, nominal; No 2 strai nominal ; No. 1 tangled rve, 1 No. 2 tangled rye, 16.00; No. 1 wheat, 13.00a13.50 ; No. 2 #heat, 12.00a12. No. 1 oat (nominal), 18.00a18. oat, 16.00217.00. CHICAGO, February _8.— Foreign selling had a bearish effect today on the wheat market. Reports were current that Germany was being sup- plied with Austraiian wheat on six- month credit from England. and that Italy had suspended for an indefinite period the purchase of cereal food- stuffs. Trade was light and the mar- ket easily influenced. Opening prices, which_ranged from % to 1% lower, with March 153 to 1.53% and May 11.43% to 1.441, were followed by a material further setback. Corn declined with wheat. After opening unchanged to % lower. in- cluding May at 65% to 65%, the mar- ket sagged all around. Onts were steadied by scantiness of receipts, starting unchanged to %a% off. May 42% to 421, but soon scoring slight gains. Commission house selling on stop loss orders weakened provisions. Subsequently, the wheat market be- came much more active and took a big upward swing\as a result of de- mand from millers, green bug reports from Texas and inquiry from ex- porters who were said to be short and unable ‘o obtain wheat in the Southwest. The close was strong, 7 to 8% net higher, with March 1.61% { to 1.62 and May 1.53% to 1.53%. Good demand from the seaboard was a bullish corn influence later. The close was strong, 1%al% to 2 cents} net higher. with May 67% to 67%. WHEAT— Low. Close. 521 1.613 1331 6% 60iy A1y 5 2% .45 February weak; middle west, 12.30a12.40. Other articles unchanged. HEAVY SELLING OF | NEW FLOTATIONS NEW YORK, February 8.—The fea- ture in today's bond market was the continued pressing for sale of some | of the recent flotations at figures be- low the prices of issue. Pennsyl- | vania 6%s and Atlantic Refining 6%s were apparently among the most auc~| cesaful of recent offerings. They were 50 heavily over-subscribed that the ap- plicants recelved only a_fraction of their allotment. The Pennsylvania promptly went to a 1 per cent pre- mium. All this happened a week or two ago. Now today the Atlantic Refin- ings were selling at a discount of % of 1 per cent, while the Pennsylvanias were easily obtainable at 993, where they had been brought out at 99%. The Belgian 8s at 99% were likewise at a slight discount. These were interesting bits of tes- timony to the effect that new flota- tions have been coming out too fast in the first place and that in the sec- ond place an apparently large over- subscription is not a real over-sub- scription. It simply means that deal- ers looking to make a speculative turn have been the large applicants for the new loans and not that there has been anything like the broud as- similation by the investigating pub- lic that has been pictured. One New Issue. With the exception of the small $2,000,000 issue of Davisomr Chemical there were no_offerings of conse- quence today. Representative issues, such as Missouri Pacific 4s, the St. Louis and San #rancisco incomes, the Seaboard adjusiments and the Chesa- peake and Ohio convertible 438 were all up fractionally. In the govern- ment section, new highs were reached | by the Mexican issues, the external 5s) getting up to 47% and the 4s to 34. Demand for these bonds was stimu- lated by the press dispatches of the moralag, citing the progress of the negotiations for a plan to meet the Mexican federal debt. “The Japanes¢ issucs. Iroting as they always do iwith sterling exchange, were actively dealt iu, the 4s arocnd thelr recent high of 64% and the 4%s likewise well up to their top at 81%. Traction bonds were less active and did little on the day, SOME SUGAR INQUIRY. NEW YORK, February 8.— Raw sugar was qulet and unchanged early today at 3% for Cubas, cost and freight, equal to 4.64 for centrifugal. In refined there appears to be a lit- tle better inquiry from some quarters, Prices unchanged at 6.85 for fine granulated. Advices from Cuba indicating that sales there would probably be con- trolled by & committee led to renewed buying in Augar futures and prices at midday were 18 to 30 points net higher. MONEY AND EXCHANGE. NEW YORK, February 8.—Prime mercantile {mper, 7% ; _exchange strong; sterling 60-day bills and commerelal 60-day billa on banks, Commercial 60-day blills, 3.82%; de- mand, 3.87% ; cables, 3.88. Francs, de- mand, 7.15; cables, 7.17. Belgian francs, demand, 7.50; cablos, - 7.52. Guilders, demand, 34.10; cables, 34.20. Lire, demand, 3.63; cables, 3.65. Marks, demand, 1.64; cables, 1.65. Greece, de- mand, 7.00. Argentine, demand, 35.50. Brazillan, demand, 14.87. Montreal, 11% per cent discount. Government bonds {rregular. Railroad bonds irregular. Time loans firm; sixty days, ninety days and six months, 7. CITIES SERVICE COMPANY Bankers Shares Monthly Distribution No. 24 announce fhat distribution om. Cities_Bervice able March 1, 1921, fo holders Shares of record February 15, 36% cents a Baukers share. the Guaranteed by the i Kingdom of Denmark A twenty-five year, 8% loan payable in U. S. Gold dollar. ued as the obligation of 29 i Municipalties under the H approval and guaran- ! tee of Denmark. i . as and when issued To Yield About 8.29% If held to maturity Circnlar on request for ML—371 TheNational Gity mpany ‘Washington—741 15th St. N.W. Telephone—Main 3176. Is Your Car Insured? A natural question in these days of accidents, thefts and fires. If not, our policies will best protect your interests. B. F. SAUL CoO,, Franklin 5593. 934 lT is our belief that many conservative bonds are now selling below their true value. In the current issue of “Cassatt Offerings” are listed high-grade securi- ties which we believe are worth your consideration for the profitable invest- ment of your funds. Kindly ask IJF Circular 3-6 CASSATT. & CO; PHILADELPHIA 4 ST. PAUL STREET BALTIMORE New York—Pittsburgh—Scranton You Receive (v Interest on Your Investment in FIRST MORTGAGE NOTES Secured by high-class real estate valued at moge than dou- ble the amount borrowed. All details handled by experts, who can best maintain the safe- ty of your investment. (S Any amount from $100 up can be placed and interest will start at once. . Full particulars gladly fur- nished. SHANNON & LUCHS, Main 2345. 713 14th St. We Offer: District ~ Manufacturing Company 87 Sinking Fund Cumulative Free of 4 Crane, No Investment —has ever established a record for safety that can compare with that of MOLDING YOUR DESTINY. 3 You. alone. must plan vour own First Mortgage Notes ;| aesiiur. "Nioiaine rone's, destinr s ! a work that goes on and o Wae loan on good |mprove: | ':w;:l-lri';“rlnrnn':lvr"lw;;‘n s Washington real estate, an i Pon, himeelf. Success today doe have on hand notes of HI e Ne ook atiuce e past ! prevent success i future. | $250.00 Up to $5,000.00 interest. CHAS. D. SAGER 923 Fifteenth St. N.W. ioan Department Main 36 bearing 790 tions and_reinforesd tinually increasing equities. || SWARTZELL, RHEEM & | : | HENSEY CO. B | 727 Fifteenth Street NW. | : \'\'.--I-m«n. n . . -li_r l-;l?‘c‘l.‘;fi"l"‘o“ Ex’l;.l.( l THE NATION’S HOME TOWN. s Clinton, Md. ‘ : LIBERTY BONDS : BOUGHT AND SOLD FOR CASH Money to Loan on real estate Prevailing rate of interest H. L. Rust 912 15th St. N.W. Liberty Bond Exchange 604 14th St NW. EQUITABLE i] CO-OPERATIVE BUILDING ASSOCIATION Organized 1570 41st YEAR COMPLE Anaets Surplus Save If You Would Succeed ~—Thomands who have adopted this systematic saving plan of the Equitable Subscriptions for the 80th Issue of Stock Shares, 82..50' per Month EQUITABLE BUILDING, 915 F St. NW. . JOHN JOY EDSON, President FRANK P. R IDE, Seey. san P T L L L T T TR TR il . oo o Atlantic-Gulf & Pacific Operates the l Steamship Corporation 3 American Clipper Ships formerly led s Atlantic the World’s ocean commerce. New - Pacific Ergland investors earned many times i Express their original capital that made possi- H Xpre ble the first American Merchant Ma- : Lines - | rine. : & a Loies | Today the same opportunity exists for H America’s || every American who firmly believes in H Coast-to-Coast || the future of his counfry, and the H D'rfd Fast : “ American Merchant Marine is destined Freight Service || to play a vital role in that assured fu- { | | ture. The Preferred and Common Stock of this Company offers unusual opportunity for profits if purchased at present prices. A. B. Crouch & Company INVESTMENT BANKERS 406-408 Water Street Colorado Building Baltimore _ ... Washington e Calvert 3300 «~ Main 7186 PR EIRE AR RERE A APE IR EPEAICESIRTEFIEEE Capital and Surplus. $2,000,000 WORTH THE PRICE The peace of mind, the satisfac- tion ensuing from conviction that one’s valuables are secure from all harm, entirely discounts the reason- able cost of keeping Liberty Bonds, stock cert’Scates, insurance policies, etc., in Our Fire and Burglar Proof Vaults. Inquire about Safe Deposit Par Value, $100 Per Share District of Columbia Intangible Personal Tax PRICE, 100 Box rentals—we’ll gladly show you é - our complete equipment. B ionalSavings& Trust o, NationalSavings rustCe.Eg 55th Oldest Savings Depository in Washington | s Year COR. 1 D NE YOK A. & - - of Columbia Paper LsssEscraREEses srermesERsra; Preferred Stock / Normal Federal Income Tax and and Accrued Dividend to Yield 8% Circular on Request Parris & Company 823 15th Street N.W. __Telephone Main 593 Established- 1883