Evening Star Newspaper, January 14, 1922, Page 16

* make the refinancing ez _ordinary market factors than in for-| + fmprovement since the first of the BUYING PROGRAMS OF RAILS Il r H t BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, January 14—The markets of America today are buy- ers’ markets and millions of dollars are pouring inte them. Men on the, Justomers' side of the counter, for the first time in some years, are able to raise a voice in the naming of term: Nanufacturers, merchants and di thibuters are anxious for their busi- ness and are competing keenly to get it. That is w conservative buyers Have been waiting for and as a con- sequence the e removing the elas- tte band from their pocketbooks and sbending the eontents freely. Within the last few days, three s purchas which include ftems rang ing from b tacks to freizht car and which aggregate over $23.000,000. Other roads are he of ebmmodities in othe: of this buying, which Is spreading to the individual, is setting every nerve of the b system to tingling | with activit m the raw commodi- hed products. for both call . which struck S - last week, are helping buyers to supply their needs and this trend toward easier credit blds fair to o even further when the interest requirements of government and corporate bond issues, due Mon- any, have been met. Discriminating Buying. he buying now going on, great as 18 its volume, Is discriminating buy- ifg. Big purchasers know from grim experience with empty pockets whi they can do without. But they are buying what they need and buying it ip larger quanti Competition is nd will con- tinue to d get into the market more generally, as | they are confident “ted to do. The spring of 1922, therefore, will be & period of ¢ reduction for the suc cossful business man. Such men hav discovered that unless they trim their sails to the winds of competition they are heading into danger, and they are cutting costs and putting checks on ble point. selling service to their customers Wholesalers and jobbers in many dis tricts are taking part of the burden of merchanc carrying off the weaker shoulders of their retail customers by laying in L r stocks themselves to meet the customers’ requirements quickly. Labor Attitude Favorable. In most insiances labor is aiding rather than combating the produc- ing costs reductions. Employes are assuming the attitude that it'is bet- ter, as one Chic man expressed it, “to work forty-eight hours a week for $40 than to demand a forty week for $50 and have no work. One of the first industries to be af- fected by the buying wave has been tin plate. The orders of the big oil companies and the canners, as well as demands by the railroads for this product for carproof protection. have stimulated production and resulted in an advance in the market for tin metal. Steel production is on a steadily jncreasing scale throughout Pennsyl- vania, Ohio and Tllinois. Automobile manufacturers have been heavy buy- ers of certain steel products.” Tire manufacturers are preparing for a spring rush and adding to their pay- rolls to increase the present output of 100,000 tires a day. ‘Weather an Aid. Favorable weather has bettered range and crop conditions throughout | the southwest and agriculturists are! recovering buyi power gradual SPREAD TO ARTERIES OF TRADE Prospective Plans for Outlay of Millicns Set Every Business Nerve Tingling With Activity—Competition Keen. in other sections. Reopening of the gold, silver and copper mines of the west, scheduled to take place in the next fortnight, will mean hundreds of thousands of dollars distributed to merchants throughout the mining sections who depend on the mine pay- rolls for much of their custom. In every section of the United States breakfasts are costing le: for there has been a universal drop in the price of eggs. Prices have fallen sharply as a result of mild weather and increasing shipments. — Butter also has been similarly affected. Unemployment is decreasing and is expected to continue to do so until the advent of spring absorbs the idle farm hands and other outdoor workers. Commodity Reports From Various Sections Steel. PITTSBURGH, January 14 (Spe- cial).—Mill operations are expanding. After being closed nearly a v b artment of the Allegheny Steel any, is expected to resume Jan- rlls are working at it of the West uary the Brackenridgze p Peun Steel Company and its produc- expanding in the Allegheny On Monday morning the plants Pittsburgh Steel Company at of the Monnessen will resume In part. Canned Goods. CHICAGO January 14 (Special).— Canned goods are not in plentiful supply in this section and the market is livel: matoes $1.25, fancy ber 3 at $1.70 to house. at $1.45, and num- 20 f. 0. b. ware- Furs. KANSAS CITY, January 14 (Spe- cial).—The demand for furs continues Steady with prices firm. Oppossum pelts are especially strong. More raw {skins are being marketed here than many years, as farmers, who formerly did not take the time, are not averse this winter to picking up a few dollars with trap and gun for Lumber. PHILADELPHIA, January 14 (Spe- cial).—There 1s a demand here for 20,000 moderate priced dwellings and lumber men are preparing to pro- mote building by sweeping cuts in lumber prices and the encouragement of quantity purchases by builders. Egzs. ST. LOUIS, January 14 (Special).— The price of eges has declined here to 28 cents a_dozen wholesale, com- pared with 67 cents last year. They are retailing at 35 to 40 cents, com- pared with 80 in 1921 ATLANTA, January 14 (Special).— Eges have dropped from 55 to 45 cents a_ dozen here and yard eggs are selling at 60 cents, compared with 70 cents a week ago. This is the lowest price touched in January in a number of yea Notes. DENISON, Ohio, January 14 (Spe- cial).—Only a few of the women who took jobs in the Pennsylvania rail- road shops here during the war are left on the payroll. Of the 200 em- ployes just laid off, twelve were Wwomen who had been in the plant since the beginning of the war. Only two or three of the 200 who were taken at that time remain. SW YORK, January 14 (Special). —There are now ten ships loading at American ports with seed grain for Russian relief. Of these two are in New York, four at Baltimore and four at New Orleans. Bids for corn and corn grits for Russia will be opened by the purchasing commission next ‘Wednesday. DOMESTIC INFLUENCES OFFSET FOREIGN FACTOR| CHICAGO, January 14—Although the fall of the French cabinet was | followed by a decline in wheat prices | this week, better domestic milling de- mand and a prospective reduction of the United States visible supply have largely acted n offset. Compared with a weck ago, wheat this morning varied from % lower to 7% advance, corn was 3% off to % up and oats showed gains of %a%. In provisions the week brought a rise varying from 35_to 1.2 | It was generally assured at first| that the sudden change in the French | government might mean considerable uncertainty and delay in grain busi- mess with Europe. Later, however, this view was modified, and wheat traders azain took greater interest in | elgn political complications. Bearish | elements of the Argentine exportable surplus counted at one time as a weight on values, and so, too, did rains in Kansas and eisewhere south- west and false reports of bank trou- bles in France. On the other hand, ‘buying of wheat for Russian relief and the absorption of so-called dis- | tressed holdings of flour opened the way apparently for a better demand from millers. Decreased primary re- celpts of wheat gave some basis, too, for predictions of smaller visible sup- ply figures. Corn was steadied in price by an| active demand from the seaboard. Meanwhile, the south and southeast ®ave signs of wanting oats. Provisions reflected upturns in the value of hog SOUTHERN ROADS IMPROVE. | NEW YORK, January 14.—Improve- ment in the south is having its effect | on the earnings of southern roads.' Both the Southern railway and th Seaboard Air Line arc showing muci better results than a few months ago, and are slowly pulling out of the Tut of depression. In the last six meonths the Southern has showed an earning power at the rate of $9 a share on its preferred stock and there Is some talk of its renewing its ferred dividend disbursements. Tt $25,000.000 6 per cent bonds fall- ing due March 1, and if these are not to bo extended, dividends would er. The Seaboard has shown a decied year, movement of cotton in the first elght days of the year having in- creased 64 per cent over the same period last year; lumber, 16 per cent, and general merchandise, 17 per cent. Movement of fertilizer increased 341 per cent, and other commodities also showed substantial gains NOVEL TRADE METHOD. NEW YORK, January 14.—A unique method of merchandising is being used successfully by a local furniture dealer. His scheme is to cut down overhead expenses by engaging a small store for display of a sample of all his products. He carries no stock for direct purchases. The would-be pur- chaser selects the furniture desired from the samples displayed and the order is sent by the dealer direct to the factory, which sends the article direct to the purchaser's home. In most instances the consumer is saved apywhere from 15 to 45 per cent of the retail price. CUT FARES. MORE BUSINESS. NEW YORK, January 14.—An in- crease In the number of traveling salesmen on the road will follow decreased passenger fares and Pull- man rates, according to replies re- ceived to a questionnaire sent out & fow days ago by the National Coun- ofl of Traveling Salesmen. The coun- el Is backing the movement for the ~ issuance of interchangeable mileage zkl and the repeal of Pullman sur- WEEK’S COTTON MARKET NERVOUS AND UNSETTLED NEW YORK, January 14—The nervousness which had developed in the cotton market immediately after the holidays remained In evidence, and there was continued liquidation dur- ing the earlier part of the past week. Offerings became lighter after a de- cline of about 1% cents a pound frem | recent high levels, and after selling at 17.62 on Wednesday, March contracts showed rallies of about 40 points as a result of covering and a little more trade buying. This improvement was not fully maintained, as the resigning of the French cabinet had an unset- tling effect, but liquidation has been less_active since the middle of the | week, and there has been no material selling pressure from the south. As a result there was a feeling among local brokers toward the end of the week that pre-holiday purchases in the futures market had been pretty well sold out, and while it is believed that scattering lots of spot cotton have been coming on the southern markets from day to day there has been nothing to indicate any general weakness in that quarter. The decline in raw material has checked business in the domestic mar- kets for cotton goods, but more en- couraging reports have been received from Manchester indicating a better business in India, and there has been i nothing heard of any curtailment of | domestic mill operations. The census report showing 7,884,272 ales ginned up to January 1, or only 90,940 bales for the last half of Decem- ber, was rather under expectations. It was most generally regarded as fa- | voring estimates of slightly under rather than above the official forecast of 8,340,000 bales for the crop, but did not cause a sufficient change in sentiment to substantially influence the market. - e FINANCE AND TRADE NOTES. Jewel Tea Co.’s report is expect- ed to be ready for issuance to stockholders next month and will ;show a moderate profit for 1921, com- pared with heavy deflcits in the two preceding years. Gillette Safety Razor has declared a stock dividend of 214 per cent, pay- able June 1 to holders of record May 1, in addition to the usual quarterly cash dividend of $3 a share, payable March 1 to holders of record Jan- uary 31. An order for 2,000 fraight cars has been placed by the Illinois Central. Hask2ll & Barker Company will build 700, American Car and Foundry 500, 2\':slern Steel 400, and Standard Steel 00. ‘Western Maryland road announces that its local shops and roundhouses at Hillen Station and Port Coving- ton, Md., have been leased by a con- tractor and will be operated by him beginning midnight Sunday. DECLINE IN SHIPBUILDING. NEW YORK, January 14. — So marked has been the shrinkage in shipbuilding that this country today actually has a smaller percentage of the total construction of the world than it had before the war, says Lloyd's Register, covering returns for quarter ended December 31. Three months ago France, Holland and Italy were all comstructing less tonnage than this country. Today each is building more than American yards have under way. No returns are available for Germany, but the total of construction there is prob- ably second only to that of the United Kingdom. As compared with the preceding quarter, it is stated, the total ship- building throughout the world at present shows a decline of more than a million tons gross, of which the British decrease represents about 640,- 000 tons, the American about 215,000 tons and that of the other countries combined about 225,000 tons. with number 2 standard to-| 1 | pathe ! that the market is into i Washington Stock Exchange. | | Potomac | Potomac CLOSING IS STRONG; TRADING IS BROAD Market Is Altogether the Most Active in Nearly a Month. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, January 14. — The stock market again today was the only quarter of the financial situa- tion which developed anything of importance. Nothing of consequence happened in foreign exchange, in grain or.in cotton. The advance In victory and liberty bonds, which has been such a feature all’ week, was checked, and there was little change bond prices generally, but in stocks it ‘was the most interesting and important market of the year. The upward movement, which be- gan Wednesday and gained force dur- ing the next two days, broadened out into a really lively advance, which included the majority of the indus- trial ist and quite @ number of the raiis. Most Active in Months. It was altogether the most active trading that has been seen in nearly a month. Motor stocks and related ssues, such as the shares of motor accesscries companies, took the lead at the start, but the buying quickly reached out fn other directions as well. Stocks and | of food producers, woolen ather stocks and a number of industrial specialties of the type of the Nutional Le: in for at- tention. There w. buying of Steel common and Midvale with sym- ¢ advinces in the other mem- of the steel ‘group. :rs who hLad sold these stocks nticipating very poor earning | for the er of awoke to the r that it not what happened last year, but | at is going to hap) this ‘year | ted in. i Motors the Feature. or stocks started off with a continuing the movement bezun yesterday and partly respond- | ing to the ounts of what thesc companies expect to do this year 1 the way of new busin. Chandler | Motor wag notably scarce on the wo i up, but the buying in Studebaker, if nOL a5 UrKent, Wits BOWC Lie oo fident. There was little to be ad to the information given terda regarding these two companies. tudebaker had a record last year in point of production, yet expects to far surpass this record in 1922, the calcu- ations being based on the business already booked. From orders on hand, Chandler expects to turn out be; The mc rush, part during the first quarter this year 8,000 cars, which is as much as it did in tie last three quarters of 192 R — SALES. < 0 at 95, $1,000 at 931y Cify and Suburban 5s—$1,000 at 78. Washington Railway and Electric 45—$1,000 pital Traction 55— ric cons. 58—$1,000 at 90. Clectric g, m. Gs—$1,000 at 99, . $5.000 at 09, dctiou—4 4t 07, 5 at 07K, 5 at at 403, Lanston Mo 20 at 7133, 5 at 1%, Mergenthaler Linotype— at 95%, bington Gas 713s—$300 at 105%. Washisgton Railway aund Electric pfd.—5 BONDS. Bid and Asked Prices. PUBLIC UTILITY. Bid. 88 Asked. American Tel. and Telga. 4s. s8'% | American Tel. and Am, Tel. and 9535 96 oy 110% 8 Anacostia and Potomac guar. C. and P. ‘Telaphone 10 of Va. Gs S0 | Georgetown G: Metropolitan R. Washington Gas shington G 2 Washiagton Rwy. and Wash. Ry. & Elec. g. m. 6 MISCELL. long) (short ket Ths. Riggs Realty n’ Ma Washiagton Market W. M. Cold Storage STOCKS. L sy bodi 188 40 xhington i folk_and Wash, . Rwy. . Rwy. Steal Tec. American Capital Columbia Commercial District Lincoln o National ~ Metropolitan RIggs Second . Washington . ST American Security and Trust Continental Trust .. National Savings and Trust. Unlon Trust Washington Loan and Trust. SAVINGS DBANK. Commerce and avings. " 160 D14y Merchants’ D147 Security Savings o 508 Seventh_Street : 150 wion Savings 111 U. &. Savings T 220 Washington Mechanics’ 1 FIRE INSURANCE. American 5 Arlington 5 Corcoran_ . s Fireme , National Union © % TITLE INSURAM Columbla Title .. Real Estate Title . MISCELLANEOUS. Columbia Graphophone com Coluwbia Graphophone pfd D. C. Paper Mfg. Co. D. C. Paper pfd. 5 Merchants’ Transter and Storage Mergenthaler Linotype... 0ld Dutch Market com. 0ld_Dutch Market pf Lanston Monotype .. Becurity Storage Washington Market ceeeceeeces *BEx. div. VICTORY BONDS POPULAR. MONTREAL, January 14. — There continues an unabated demand for Canadian victory loan bonds at firm prives. All over the country people are putting their money into the long- term issues. In the rural districts mortgages are becoming less popular and government bonds are taking their place. “This_is regarded as indicating a generally improved economic situa- tion on this continent before long. Optimism seems rife, although no im~ provement in conditions is expected before early sSpring, nor is it even hoped that this improvement will be B BEoul 830 Sa JuBol {rapid. —_— BERLIN BANK STATEMENT. BERLIN, January 14.—The state- ment of the Imperial Bank of Ger- many, as of January 7, shows the following changes: Total coin and bullion increased 103,000 marks. Gold increased 3,000 marks. Treasury notes decreased 2,- 060,551,000 marks. Notes of other banks increased 1,614,000 marks. Bills discounted decreased 14,382,676,000 marks. Advances increased 28,331,000 marks. Investments decreased 5,964,- 000 marks. Other securities decreased 934,912,000 marks. Notes in circula- tion decreased 499,592,000 marks. De- posits decreased 16,082,903,000 marks. Other liabilities decreased 78,684,000 marks. Total gold holdings, 995,395, 000 marks. at 66. R. | oD CLRB MARKETS. INEW HIGH PRICES (Furnished by Redmond & Co.) Co. (Furnished by W. B. Hibbs & :“ U. 8. LIBERTY BONDS. o e U. S. Liberty 8%4s. 96.88 | Actna 12% 13% U. 8. Liberty 1st 4a. 7.00 | Allied Ol. 2 3 U. 8. Liberty 2d 4s. 97.80 | Ar] % 9% u. 97.86 | Atlantic Lobos 8 12 U © 97:90 | Big_Led P 28 U * 97.90 | Boone O] 9 2 U 1 97:90 Boston a 3 u 110020 | Boston_and Wyoming L 3 u. ©.7100.24 | Caledonta . 5 i, ?ll;tl.ll;t lll? Jerome. }{ Cal .. 13 OTHER BONDS, Close. | Carib_Byndicats. 4 City of Rio de Janeiro 8s 1946..... Chien Rersice (nem) * 1w 1% Freies ooy s survce ol w2 rument of Switserland 8s 1040, ml” 50 REVRLITS of Ghite o 1930, Cousoliaated Qupoet w1y v - enta 3 Unised Kingdom 53pe 1923 e Gold ) l"& 2 United Kingdom 5338 1987. Damten? oil s 9 American Agrl. Chem, 7% 1941, . P> 5 Amcrican Tei- and el conv. 65 D a D M e i e Althon: Topokn wnd 5. | EamrT 2. 2 Atlantic Coast Lis e sy, 9 B Atluntic Kefining Co. ¢ Foderal Oil. 1816 1% Atius Powder Co. T34 1084 e 20 o 9% Raltimore and Ohlo conv. 414y 1083. Gillette Safet, PY{ a4 Bultimore and Ohio 6s 1929, 97% | Giiifiana On % o Raltimore and Obio &, W. DIL: 3148 1025, 884 | Gien ‘Aldon ¢ P Bethlehem Stecl P. M. 5s 1986, 8713 | Glen Rock: Off, 57 100 Trooklyn Edison Ts 1940. Burlington (N. P.-G. Canadlan Ntl.-Can, Canadian N Chesapeake and Ol Chesapenke and nd 8t. Chicagy Unlon Station 6% Cuba Cane Sugar Ts 1930, Deluware and Hudson 7a 1980, Dn Pont Tis 1931.. Erie general lien 4s 1900, General Electric 6y 1040, Tilinois_ Central 5lgs, International Mere. Int. Rapid Ti Keily-Springt 3 Louisville and Nashville 7s, Kuusas and Texas 1st Pacific general 4s, 197 Pacifi ard Motor uisylvania s, vania R| Pennxyly R. ia 78 of 1930 Pennayivania geo. mortgage”4i4e 1 Reading general ‘4s. 1067 t [ Touls and San Fran Touls and San Francisco Ine Alr Line 65, 1845, r Line reflg. 4 Air Line adj. 55, Pacitic 1st ref. 4s. Pacific conv. 4x, 1929 Ruilway gen. 43, 1956, Railway 58, 1064. Seaboard It dn, 200 Union Pacific conv. s Union Pacific @a, 192 United Tirug S« 1941, TS Realty and Imp. 5s, . S. Rubber Os, S Rubler 7148, Tnited States Steel 8, Virgi Wesiern Unfon_ 6las, 1936, Wilson & Co. 1st s, 1941 SHORT-TERM SECURITIES. (Furnished by Redmond & Co.) oo Ofter. 100% 1015 1007 1027 A da_Copper 6s 1929 Anglo-Awerican Oil 7 A . T Bethlehew Rethlehem Canadian Pacitie Gs Central Argentine 6y 1 Chicago, k. 1. & Pacific 0 <. L_0s 1 s 1930, Hocking Valley 6s 1024, Humble OIl 7s 1923. Kennecott C¢ Roebuck & Co. Roebuck & Co. Sears, Sinclair Cons. Ofl Tigs Southern Raflway 6s 1 Southwestern Bell Tu 1 wift & C 10214 Union T 5 103ly Western Electric 7s 1925, 1, 1047 Westinghouse E. & Mfg. 7e 1031 1061 107 U. 8. TREASURY CERTIFICATES. ~——Close..—— Bid. Asked. . 100832 100552 100532 0100582 100 9-32 100 100 1-32 100918 10011-16 - 1004 Rate—Maturity. 5138 February 18, 1922 March 15, 1922, 125 August ‘1, 1 4138 September 15, Bigs September 13, 434s December 15, 1 FINANCE AND TRADE NOTES. Employes of Smith & Wesson, pis: tol manufacturers, have been notified to report for work Monday, when a wage reduction of 20 per cent will be put Into effect. The plant has been | closed since last July, owing to busi- ness conditions. Goatskin importers find themselves in a difficult position because of the varying rates of exchange. Patnas, imported from India, which one im- porter buys in lots from 50,000 up- ward, were quoted at $8.50 per dozen a few weeks ago. Today the same goods are quoted at $9.50. Coco has become stronger the last two weeks. This, commodity has ex- perienced a big ‘deflation. Certain grades that had szld for 18 cents dropped to 8. Candy manufacturers preparing for Easter trade are in the market. Manicure sets are in better demand ' than for some time. The Christma: these goods. Manufacturers’ agents are now out for spring business. A jobber of machinery for dairies and ice cream manufacturers is ex- periencing dull business. Low prices for farm products prevent purchases of dairy equipment, and ice cream makers are not buying machinery. The manager of an agency for a asserts the sales of equipment with enamel finish have shown a notable increase. Such ranges are popular with housewives, owing to their ap- pearance, but are not as durable as old-fashioned cast-iron goods. The popularity of a department store’s counters where patterns for women's clothes, cloths for suits and coats are sold indicates that many persons still are economizing. A tourist agency reports a greater demand for trips to Florida and the 'West Indies than at this season in 1921. Interest in tours to the na- tional parks this summer also is de- veloping now, earlier than usual Fresh apricots, almonds, cucumbers and alligator pears completed a suc- cessful journey from Chile last week for the first time. They enable fruit dealers to add new variety to their stocks. Typewriters, adding _machines, loose-leaf devices and duplicating machines have been selling well, in the opinion of distributors of office appliances. — A manufacturer of leather goods re- ports that his retail department has been selling many trunks, suitcases and traveling bags, although whole- sale transactions are few. Smaller leather articles were in greater de- mand last year at this time than the more expensive goods. RIBBON DEALERS CHEERED. NEW YORK, January 14—Out-of- town buyers are giving considerable material encouragement to ribbon manufacturers by placing many ad- vanced orders for ribbon in spite of high costs. Orders are said to have been placed much more freely in the last few days and stocks on jobbers’ shelves are reported as small. Retail- ers_likewise have small stocks on hand, and, although out-of-town demand strongly favoring narrows, fancles and broads are receiving much more attention than for some time. 33 | Tonopan 4| Continental Oi Co, 13| Ohlo 011 co. trade cleared the shelves of much of ; brand of domestic stoves and ranges : Guey.Glllesple | Indian Packin Intercontinental Rubber ' International Petroleum (new).. | Jerome Verde Kay County Gas. Lake Torpedo. Lincolu Midwest OI1' com..”, | Midwest Oll ptd. | Midwest Refining Mountain Produce: Ophir . New Cornelia Niplasing Mines 05 c-orth American P. and . Northweatern Ol . Omar Oil (new) . ! Pennok Ol . | Perfection Tire. Producers and Refiners ... Radio com. Radio pfd. Ray Hercules . R.J. Reynolds B Ryan Colsolidated | Kalt Creek Producing. 1Raut Creek (new) i Sapulpa _com. Neva South n Sweets Co. of America, Swift International | Tonopah Divide, Exte ited Enster: | U. 8. Light and Heat com. 100 { V. K Light and Heat pfd. 10014 l United Profit Sharing . 2 U. 8. Ship Corporation . 1n i ; . [S.' filtyumnlll 14 “nited Retall Candy. 5 Wayland 2 i Wavue Coal 00 West End CHICAGO— Armour Leather com. Armour Leather ptd. Armour pfd | Cndahy Packing Libby oy Natiounl Leaithier t o, 101 1015 n ‘Carbide i o OIL STOCKS. American 0il Co. Scrymser Co. tuckeye “Pipe Line 1 Cheseborough Manufacturing Co. (new)... Crescent Pipe Line Co. Cumberland Pipe kine Eurcka Pipe Line. nal Oil 40 1 0l Co. pfd 105 | lilinols "Pipe Line Co. 165 Indiana Pipe Line Co. National Transit Co, . New York Transportation’ Co Northern Pipe Line Co. Pennsylvania-Mex Prairie Oil | Prairie_Pipe Line { Solar Refining” Co. Southern Pipe Line South Penn. 041 Co. Southwest. Penn. Pipe | Standard Ol Co. California Standard Oil Co. Indian tandard Ol Co. | Standard 01l Co. Standard Oil Co. Ohlo. Swan & Fineh Co, Cnion Tank Line Co Vacuum Oil Co. Washington Oil C THE WEATHER District of Columbia— Generally cloudy tonight and tomorrow; warm- er tonight; lowest temperature about 25; increasing southerly winds. Maryland—Unsettled weather, pos- sibly light snow tonight or tomor. row; warmer tonight; southerly winds. Virginia — Mostly cloudy tonight and tomorrow; warmer tonight; in- creasing_southerly winds. ‘West Virginia—Cloudy tonight and tomorrow, probably light snew in inorth portion; warmer tonight. Records for Twenty-Four Hours. Thermometer—4 p.m., 32; 8 p.m. ; 12 midnight, 27; 4 am,, 19; 8 am., noon, 30. Barometer—4 p.m., 29.98; 8 p. 20.04; 12 midnight, 30.09; 4 a.m., 30.1 8 a.m., 30.30; noon, 30.36. Highest temperature, 32, occurred ature, 17, occurred at 4:30 a.m. today. Temperature same date last year— Highest, 36; lowest, 27. - Condition of the Water. Temperature and_ condition of the water at 8 am.: Great Falls—Tem- perature, 32; condition, slightly muddy. ‘Weather in Various Cities. * Stations. ene e anamoang. Abtlene, Tex. 30.14 Albany 8020 Asbury ‘Atlantie City i Baltimore . REBZEREBHAZNS 30.20 Buftalo ...\ 30,10 { Charleston . 30.44 Chicago 20.86 \ Cincinnati .. 30; i Cleveland ._ 30.14 | Denver .....29.82 ! Detroit * 30,08 El Paso.....3028 54 Galveston .. 3036 58 13018 40 3048 54 2084 38 012 76 2 28 42 B4 52 040 06 42 022 30 22 2004 50 36 3026 32 26 3016 70 34 .. 3024 28 18 8020 22 14 ;gg {3 fi Pt.cloudy . Pt.cloud, 2032 6 40 Clear 3008 70 52 Clear 8016 58 4 Cloudy 2096 30 20 Clear ™42 10 8 Cloudy (3034 38 30 Cloudy 3030 32 17 Clear TRADE REVIEW. NEW YORK, January 14.—Dun’s review of trade says: “The develop- ment of general activity in business is still delayed, but the prospect of further gradual revival remains. An- nual inventories have not yet been complete in all instances, causing temporary deferment of new com- mitments and many interests are dis- posed to adhere to a conservative policy. While confidence has unmis- takably strengthened different uncer- tainties make for continued caution and rapid commercial expansion is not to be expected. A number of factors, however, encourage the re- lease of some orders that have been held in obeyance and the large at- tendance of merchants in certain primary markets occasions favorable comment. “The easing in money rates, which has been extended in the new year, is one of the constructive forces pres- ent and the comparative stability of wholesale prices serves to somewhat lessen hesitation in buying. With recognition of existing conditions of unemployment and thefr effect on the public consuming capacity, dealers’ demands to cover probable future re- quirements are chiefly of moderete iz ul'.lthoush appearing” more fre- quently. “Weekly hank dlearings, $6,683,- 006,000. iy went still high A | Sir Auc increasing | at 4 p.m. yesterday; lowest temper- | SCORED BY BONDS Bpecial Dispateh to The Star. NEW YORK, January 14.—The same general characteristics—slight de- clines in liberties with the rest of the list strong—which appeared in yesterday's bond dealings marked the two-hour ssssion this morning. Numerous new high prices made. French bonds continued firm, while | movements during Belgian 73%'s, republic of Chile §8's and | have Canadian “issues rose about a point. Dominion of Canada of 1931 struck a fresh top, a point their close of last night. Inter- s ns borough Rapid Transit refunding er. Other _tract were steady. and Telegraph 6" New York Telepho; 5's and Sinclair Oil 7%'s all reached their best prices in over a year. Rails Advanee. Railway bonds advanced average more than a on the to get to high levels and Oregon- Washington Railway and Navigation Company refunding 4's gained two points to their record of S2. Dealers here in Cans bonds had no trouble this weck in selling this class of securities. Th market, due partly to higher levels of Canadian excl and _stimulated partly by successful sale of new offerings, was strong. Priccs rose substantially above the previous week or 8. There was an exceptionally good tdemand for 6 per- cents, ant short {term Ontario issues sold around a 0 basis, which reflected increased inquiry for bonds of the provin 17 SCOTTISH WOOLEN DELEGATES REACH D. C. Largest Body of Business Men to Leave British Isles to Study Conditions. Seventeen representatives Scottish Woolen Trademark A tion, suid to be the largest delegation of business men ever to le th ish Isles, arrived in Washington ¥ and conferred with officials of the States Chamber of from 10 sek until | after 1 o'clock they at lune | The delegation t.r. quarters of the output Scottish woolens in Great Diritain and has, it is 1, the nt of Liovd e nd the sceretary of state for Scotlandiand.the keeper of tne grest eal. 7 The purpose of the visit to t United States, it s announced, is three-fold, first, to “do their bit in promoting better feeling 1 en the United es and the Brit second, study the with a American cust for their money, duce the trademark granted by the Britis) as a standard of qua the delegation wi and lay a wreath ment Tomorrow Arlington grve of the unknown ! go to on the The Scotchmen Thow Munr: ar by W Glenny vice chairma retary. The; will visit the principal wool of both the United State AEOR |, ALENANDRIA. anuary !The work shed by American Legion since its orx tion was told last night by Col. Thomas Taylor, vice chairma national legislative commit address before a mass me: in the auditorium of the commerce under the auspic |Ladies' Auxiliary of that organ | tion, the occasion being the meeting {of the state exccutive committee oL { the Ladi. Legion. { Dr. Kate Waller Barrett, president of the Virginia Ladic ¢, presided and introdu Occupy cats on the 208 rum were Mrs wife of Gov Westmoreland a number of st 1 iliary. Afterward Mrs. Da visitors were tendered a reception in the parlors of the chamber of com- { merce. i Others who spoke included Mrs. W R. Hanger, Staunton, Va. dent of the legion; Mrs. W. E Winchester, corresponding secretar: Mrs. E. P. Stuart, Newport New Miss Cecila Williams, Portsmouth Mrs. W. T. Allen, Richmond; M Ya., mber of f the aux- American Telephone | Chile Copper 65,11 half point. | Atchlson 4's were among the leaders | n provineial | were | Spec | i © | th FINANCIAL. STOCK MOVEMENTS REFLECTING TRADE TREND, NOT MONEY RATE Week’s Advances Tantamount to Vote of Confidence for Those Who Have Opti— mistic Forecast of Year's Possibilities. ! Dispateh to The Star. EW YORK, January 14—DMarket the past much new not thrown light upon the outlook for the new year, | above | but they have effectually disposed of | any hesitation that might have been felt because of the disappoint- ing prices in the opening days of gzing then in the stock market was partly the natural reac- tion after a month or more of ad- and partly an expression of of unreasoning disappoint- speculative quarters, because new year did not begin immedi- with revival on and off the ck excha The weel -en the balance re- stored. Profe ial traders had sold out their stocks by the beginning of the period and many of them had £one short. The talk of further re- Action was 'so in the air that the pub- s was frightened off from the buy- 1 in but the more important s ng interests were not sell- i . one the part of this T was considerable buying back of holdings on which profits had mporarily been take in De mber. Thus the i ¥ tion of the ket be this was c he price half of the Inventories a Trade Check. 1e very strong again and arly e¢nough revealed in ovement during the latter W The first ten days or two weeks of January is always the inventory tak- ing inferval. It is not a time when normally b s operations are starting up. The fact, therefor far the new year has brou idication of further trade re not in the least surprising and iron authorities have - mills running on 4 Somew pereentage of active capa were last month. But they till believe that after the inventory jperiod is over orders will commence Brit- | to pick to-{ true | | i | e, in an |4 00, ting held |5 s of thelc l { together with i g 1 < A=) proces { gusta Conrad, Winchester; Mrs. How»l ard Fletcher, Warrenton. Col. Taylor told his hearers that there are 12,000 posts of the American Legion in the United States and one in every foreign country, except Ger- many. The Ladies’ Auxiliary, he sald has 3,500 units, with a total of 250,000 members. Col. Taylor predicted the passage of the adjusted compensation bill. elected officers The following new! Oda Fel of Potomac Lodge, lows, last night were installed at 0dd Fellows' Hall by District Deputy Grand Master J. W. Maverty of Falls . Bontz, sr., treasurer; . sson, warden: J. W. Twilly, conductor; A. F. Ellmore, chaplain | Charles Seadbloom, right scene sup porter; Roy C. Bragg, left scene sup- porter: H. rnold, right supporter to noble grand; J. K. Williams, left {supporter to noble grand: G. H. Davis, inside guardian; W. B. Gorham, out- side guardian. Following the instal lation refreshments were served. The Susanna Wesley Class of Trin- ity M. E. Church at a meeting held January 8 at the home of Mrs. Levina R. Fitzgerald, 203 South Patrick street, elected these officers for the year: Mrs. J. B. Fitzgerald, president; Miss Anna Pierpoint, first vice presi- dent; Miss Lily Cradlin, sccond vice president; Miss Pearl Polkinhorn, treasurer; Mrs. Dorothy Pierpoint. secretary; Mrs. William A. Langley, press agent. The Alexandria Sunday School As- sociation will meet jointly with the | state Sunday school officers Monday night from 7 until 10 o'clock in the lectura room of the M. E. Church South. At this meeting reports will be submitted from all of the Sunday school superintendents affiliated with the association in the city. This will be followed by a general discussion of Sunday school work. Afterward there will be a social session and re- freshments will be served. Last rites for Willara P. Graves, who died Wednesday night, were held this morning at his late residence, 623 South Fairfax street, and conducted by Rev. Dr. John Lee Allison, pastor of the Second Presbyterian Church. Burial was in the Presbyterian ceme- tery. Members of Andrew Jackson Lodge of Masons and Osceola Tribe of Red Men attended. Tke pallbearers were: W. A. Moore, James Alexander, william C. Chauncey and Lewis P. ‘Woodward, this city, ‘and Arthur Hud- gins of Richmond and Daniel Devendor(f O e boay o Mrs. C. The body of Mrs. Carolina Fergu- son, who dled Wednesday in Fairfax county, today was shipped to Cul- peper. Va., for burial from Wheatley's chapel. Funeral services for Mrs. Mary Mort, who died near Addison Thurs- day, were held thig morning at St. Dominic’s Catholic Church, Washing- ton, and the body was shipped to Darby, Pa., for burtal |Church: G, J. Minor, noble grand;| George M. Reynolds, vice grand; N. L. Williamson, récording W, ham, sr., financial se ATy jturkeys, up. What is true of steel is of many other lines. In past vears January has more ten than not been a month of ris- prices. both in stocks and i was the r when rates were the p: mount ce. Money flowing back from the interior to swell the Wall street supply was a stimulus to investment nd an encouragement week | The opinion expressed a week | 6's of 1941, New lago has been fully borne out, namely, York Edison 61%'s. Steel sinking fund |y e ; e 4 also to speculative activities. Fre- auently these January booms would last over into Febr . to be fol- !lowed by reaction extending through the month of March. This week has seen United States war loans, some of them, at the best | prices r T others at the ! highest Jevel the turn in the |investment situation came seven months ago. The stock mark it u: but rather with the course trade. Its advance this week is ta tamount to a vote of confidence th those are right who think that 19 will be a year of slow, gradual fm- provement, that competition for new business will be sharp enouzh to Keep down prices so that there will be no e profits, but that for man- is not concerned a; ed to be with the money mar- ‘turing and mer, stablisl- ts, which have off r s and are in f it will be French Crisis Has Small Effect. The change in the rench g ment Grom a group disposed to disintere. ly for economic restor tion in Europe to a group which h much narrower and more selfish view is certainly not a pleasing de- velopment. It has had no more ef- fect in the markets generally, on because al circles have never ailowed clves to become 1o about what would be nnes, or at th conference whi more impor to meet in the month afte next. The p and this includes the commerc wd financial inter ests of th ¢ world—that would lik b ons modif t the German mar- kets could 1 opened up, have re- % The decl i during the w is. nptom which car- tation. On zth of sterl politic hope that the p general con throughout pe riously interfered will h banks The federal reser mark down Ccount this week's ant But action Aclayed up o 71 cent 1 \Grain, Produce LOCAL PRIC per dozen, uthern, 3 sosters. per lb., 17 46a4%; chickens, oung, WHOLESAL| per per b, ; fowls, 26a27. poultry — Fresh - killed spring, exch, Dress spring hickens, per 1b., 32a36: hens, per 1b., 30; rooste 20; tur- vs, per lb., 50a5 young, sed, small, per 1b, 12 ves, choice, per lb., choice, per 1b., 9; live Apples, per bbl., 6.00a| . bask. 0a3.25; west- per box, 2.7 Californi: ons, per box, 4.50a5 Galifornia per crate, 6.00a7.00. G Florida oranges, sack, 3 2.50a4.00. Let 2.5023.00. Cel aine let at.00; per Atoes! per bbi 3.0026.00. 40, Tomatoe: 00a5.00. Beans, 4. Sprouts, 20a30 per quart. gplants, per_crate. per box, Florida a4.50 per basket. Peppers, pei v 14 (Speci pound, 50z crooked breasts, $a32; thin and w ; old hens, white _leghorns, 15a16; ducks, ; pigeons, pair, nd” uinea 3 try—Turkeys, pound, 48a ssed and thin, 38; 0l roosters, 16al1X ; 23a30; geese, 23a28. native and nearby off, first, dozen, 35 : southern, 36. Butter—Creamery, fancy, sound, 35a prints, 36438 nearby creamery, L adles, 2 rolls, 20a23 ; store packed, 18al9; daisy prints, 20a23: butter, 30a33. CHICAGO LIVE STOCK MARKET. CHICAGO, January 14 (United States bureau of markets), — Cattle — Re- ceipts, 1,000 head; compared with week ago. beef steers and fat she stock, 15a25 lower; bulls steady to 15 lower; canners and cutters about steady; veal calves steady to 25 pts, 15,000 head; largely holdover, moderate, most- cights; market closing 2: lighter 40 lower than Frid average; top, $.10a10.00; bulk, 7.50a7.85; DIgs, 25 lower; tu desirable, 8.00as Sheep—Ri ipts, 4,000 head; today's ipts nearly all packers’ direct; wred with week ago, all classes higher. e e COTTON MARKETS. NEW YORK, January 14.—The cot- ton market opened steady at an ad- vance of 6 to 16 points on the more optimistic tone of European political news, firm foreign e hange rates and the census report showing do- mestic consumption of 511500 bales for the month of December. against 2 last year. There was con- siderable realizing and scattered southern selling at the advance to 18.0¢ for March and 17.65 for May, however, and prices eased off several points aftef the call in a compara- tively narrow market. Sales of print cloths in the Fall river market for the week were only 70,000 pieces, but ndon cables said there was a de- ledly optimistic feeling in the ncashire goods trade. Futures opened steady; January un- quoted; March, 18.01; May, 17.60; July, October, 16.50. SotesEg = FOREIGN EXCHANGE. selling checks—dollar values at close today. ondon -...... 423 Budapest Yaris . i3 prague . Rrussels . 8 x:-n.h‘:‘? Home. 432 Cheetiamis ol Stockbolm . .4 Amsterdam 36.90 Belgrade . ¥ Montreal .. 9615 NEW YORK BANK STATEMENT. W YORK, January 14—The actual condition of the clearing house, panks and trust companies for the week shows that they hold $16,158,300 in excess of legal requirements. This is a decrease of $40,585,870 from last week. REPEAT GIRDLES FOR SPRING. NEW present indications, fancy girdles will repeat for spring a great deal of the popularity they enjoyed during the fall scason. These articles, in_fact, together with bead necklaces and ea: Yings, are expected to top the season's demand for popular-priced dress ac- cessories. Among the things now be- ing shown are a variety of importa- tions which are priced very low. Dressed - poul- | | YORK, Januvary 14.— From | GRAIN AND PROV ALTIMORF barrel, hushe hamper, 83, bro 60,00 2 T5al.50; cu | ezgplants, crate, | horserad ish, bushel, 3.00a% le, barrel, 1.10 |a1.3; . Lettuce, bask onions, 106 | pounds, 6.00. 3.0024.00 oyster plants «%; parsnin \bushel, " T5a80; hamper, Deppers, 026,00 sa5: spinach, . 4.00a4.56 00; turnips, baskel acked, barrel, 4.50u8.00: 0; box barrel, fruit, box, 2.0 144.00; tangeri rawberries, quart 1, 1.2 1be Cloxing Prices at Noon. red winter, spot, 1o Y red winter, spot red winter, garlicks i spot, 1.151:. Corn—Cub, old, yellow, quote 2.40: per bbl; No. 3, No. 4, spot, 58% per bu. -1 2 domestic or better, 61 per_bu white of No. & H cipts, 15 tons: range 17.00 o for fair to choic imothy lana mixed raw—Nao. nominal, 15.90 | No. 1 wheat. tancied. 11003 Noo i oats, nominal, 11.06a11.50. CHICA! nuary 14 Toward the clo; ade livencd up a bit on rumors of export demand in sight for next week. Final wheat prices were: May, 111% to 111%, and July, 1.00% to 1.00%. There was little doing after the initial setback and trade died down to a minimum. Final corn prices were 52% to 52% for May and 54% bid for Open. High. Tow. Clos 1114 1.117% 1.10% 1.11% 09l Lovly Wiy 100N 5314 B2% S sk 8% Py 394y 3 NOVEL ELECTRIC CLOCK. NEW YORK, January 14.—A novl electric clock for use in homes, oi- fices and automobiles is now beinz put on the market. It is operated b ia self-contained battery, and no wir- ing or winding is required. The bat- { tery runs the clock for vear with- out renewing. The movement is jew- |eled, and the clock is guaranteed to | keep satisfactory time. So much faith |has the manufacturer in its ability {to glve satisfaction in this respect Ithat a bond of a well known cas: company given with each sold to cover any possible dissatisfac- tion on the part of the customer. CRABS AND TURTLES SEEN. WILMINGTON, Del, January 14. For the first time in several decades crabs and turtles have appeared in the Delaware river in January, which, fishermen say, presages an early break’in the wintry season. A fish- erman who accidentally broke the ice in a little estuary of Delaware river below here was amazed to find crabs ) squirming on the bottom. Turtles were seen crawling on the banks Crabs and turtles appear only as the worst of winter has passed, the river folks' traditions record, and it is said by them the advent of spring is close at hand. CLOTHING PRICES REDUCED. NEW YORK, January 14.—In eclear- lznce sales here retailers quote values offered at large reductions. Increa: ing competition is given as the prin- cipal reason for the low valucs offer- ed, but it is well known that stocks are heavy and must be moved for in- coming spring lines. Woolen men are watching the progress of the sales | with much interest. The average I trend of prices in larger stores circ late around the $30 and $35 offerings, but stores in less favorable locations | are displaying merchandise priced as low as $18 and $20. MORE IDLE FREIGHT CARS. NEW YORK, January 14. — ldi~ freight cars totaled on December 31 618,675 cars, an increase of 66,302, compared with those of the preceding week, according to official report. The decline was ascribed, in part, to less- ened demand for cars during the holi- days. Of the total, 470,516 were sur- plus cars in good repalr, and the re- mainder, 148,159, were in bad order.