Evening Star Newspaper, December 16, 1922, Page 20

EVENING STAR, WASHINGTON, D..&, SATURDAY, DECEMBER 16, 1922 NEW YORK STOCK EXCHANGE | BONDS HOLD FIRM [[o~ == zoxx BONDSS roce secaunce] Received by Private Wire Direct te The Stas Office Recelved by Private Wire.Direct te The Star Ofice. FINANCIAL." WORLDISFACING - lGhnumy;Ihnxiuce and Live Stock " PAN AMERICANS | FEATURE MARKET 2 Dividend Action Causes Wild " Jumps, Which Are Later Canceled. BY STUART P. WEST. By the Assaciated Press. . NEW YORK. December 16.—Today's markets centinue to display confi- dence and a certain degree of en- thusiasm over the projected inter- national loan to Germany. The.German loan discussion again had no effect upon the bond market, but it did enter to some extent in the calculations of the day on the stock exchange. Copper and zinc stocks were particularly strong. first Decause of the rising tendency in the copper metal. but second on the Tealization of what a reconstructed Germany would mean for the copper expcht trade. The pyrotechnics in Pan American shares following the unexpected anmouncement of another 20 per cent stock dividend overnight were a feature of the day. Motor Parts Stocks Active. ocks of the motor parts com- panies for the first time beggn to take account of the favorabld out- Jook for the automobile industry al- ready reflected in thes motor stocks. The market closed with the day's Jeaders well up to their best and active buying still in progress. Steel common closed at the top, but shares af the independent steels did not do as well; in fact, some of them were decidedly heavy Pan-American Pete Jumps. Wall street had been talking for seme time about an.extra cash dis- tribution on Mexican Petroleum to supplement a 25 per cent stock di- vidend voted in October on the Pan- American. Consequently the increased dividend on Mexican Petroleum from a to a_$16 annual basis was no surprise. But the secret of the fur- ther 20 per cent stock dividend on Pan-American had been carefully guarded. A short interest had been nursed along on the idea that the &ood news was all out. These sahorts Teceived severe punishment in the overnight Jump. which made the B atock =ell 3 points higher and the A stock 3. More Dividend Rumors. - ¥ Consolidated Copper, which has somewhat of a laggard among Porthyry copper company the past week. has been added, In the italk of the street, to the list of div- lidend possibilities for the first or the second quarter of 1923. An annual rate of $2 a share, like, that expected on Nevada, is looked for. An import- ant thing about Ray is its strong cash Position, as shown by the last annual report. Moreover, the company came {through the third quarter of 1922 with 'a surplus of nearly $60.000, as against a_deficit in the preceding quarter. With operations increasing and costs ‘decreasing. Ray, like the other Por- thyry producers, is showing decided fmprovement in its net income. Market Flashes at Today’s Close ‘Westinghouse Airbrake directors have authorized a stockholders’ meet. ing to vote on increasing the capital stock from $30,000,000 to $50,000,000, and issuing a 35 per cent stock dividend. Shipments of cured and fresh meats from Chicago for the week ended to- day were 38,376,000 pounds against 36,105,000 a year ago. i | The Texas Company has followed Standard Oil of New York in reducing the tank wagon price of gasoline 2 cents a gallon in New York and England territor! Michigan Copper and Brass Com- pany has declaréd a 200 per cent stock dividend payable to stock- Yolders of record December 20. The New Bedford Cotton Mills also have a 200 per cent stock Creditors of Mills & Gibb, textile importers and converters, who failed in M: 1916, for $3.200,000 and were reorganized the following November by the payment of 35 per cent in cash to unsecured creditors and 40 per cent in cash to bank creditors holding in dorsed paper—with notes for the balance, maturing over a period of five years—are now receiving 100 per cent in cash for their notes, it is an- nounced by the company. The Mexican Petroleum Company yesterday declared a quarterly divi- de: £ $4 on its common stock, $1 inc.-ase over its previous quar- terly rate. LEGISLATION QUTLOOK . HELPS GRAIN MARKET President Harding’s Message Vital Factor in Week's Trading in Chicago. = Associnted Press. CHICAGO, December 16.—Almost every day this week high-price rec- ords for the season were surpassed by wheat. corn and oats. Expectance of legislation at Washington 6 fur- nish financial aid in the marketing . rr of farm productd appeared to be the | chief stimulus. Compared with & week ago, wheat this morning was up 3% to 5% a bushel, with corn showing a gain of 314 to 3%a3%, and % to 3%. Net changes in pro- varied from 5 cents’ decline President g’'s message to Congress and a speech by Julius H. former national wheat dealing with . proposed sions of government credit, were promptly foilowed by a substantial upturn in the value of wheat, as well as by a mater Jative interest bilities, both protection. tended further to enhance prices, and bullish sentiment was ziven additional impetus by unusual etrength of sterling exchange. g Profit-taking sales of gre&t volume finally cooled somewhat the enthusi- asm_on the buying side of the wheat market, and the long-oontinued ads vance of prices was succeeded by a moderate reaction in which German financial* troubles had conaidera bearish influence. Provi; higher in line with grain, weakness of the hog market. Shoes of Queer 8kins. Frem an Exchange. hoes, as well as bags, are now be. ing made of fish and snake sKins. The substitute for leather is «aid to cost less and to be practically ever- lasting. Of reptiles the various kinda of python, as well as lizas Aleylon and Java, furnish skihs that are werviceable and attractive in ap- pearance. imost any kind fish that is large enough furnishes ma- ith scales removed, spite from riety, says a seientific journal. The skins are cut and fitted in the same manner as leather, and are i:r shoes of various shapes for both men and women. In some the country they have at! 3 attention and bave become quitée popular, ' {Intl Paper. Adams Express. Adv Rumley pf. ... Ajux Rubber. Am Hide & Lea pf. Am International. Am Linseed. Am Locomotiv Am Metals. y Am Ship & Com. Am Smelting. Am Smelting pf. Am Sugar. .. Am Sumatra. Am Tel & Cab! Am Tel & Telég. Am Tobacco. Am Tobacco (B) Am Water Wk: |Am W Wks 6% pf. Am Woolen Am Writing o Asso Dry G 1st pt. .10t Atchison. Atchison pf. & Atlantic Fruft Co.. Aslantic Gulf. Austin Nichole. Baldwin Loco. Balto & Ohio. 'Barnesdall (B) Beth Steel (B) Beth Steel 8% pf... Bklyn Bdison..... Bklyn Rapid Tran. Bkiyn Rap Tr ctfs Brown Shoe pf. Burns Bros (A). Bufns Bros (B). Butte Copper. Butte & Superior.. Callfornia Petrol. Callahan'Zinc. .... Canadian Pacific. . Carson Hill Gold. . Cerro de Pasco. ... Chandler Motor. .. Chesap'ke & Ohio. Ches & Ohfo pf w i. Chi Great Westrn. Chi Great W pf.... ChiMil & StP. Chi & Northwn Chi & Northwn pf. Chi Pheumat Tool. Chi R I & Pacific. ChiRI&P 6% pf.. Chile Copper. ... Chino Copper-.. Coca-Cola. Colo Fuel Columbia Columbia Graph. .. Columbla Graph pt Com Solvents A. Cons Textil “ont Can..... Continental Motors Corn Products. Cosden & Co. Cosden pf. Crucible Steel. Cuban-Am Sugar.. Cuba Cane Sugar. Cuba Cane S pt Davidson Chem. Deere Co pf. De Beers. Del & Hudso Del Lack & Watn.. Dome Mine Du 8§ 8 & Atlantic. Dupont (E I) Dupont deb. Eastman Kodak Electric Stor Bat.. Elk Horn Coal.... Endicott-Johnson. Erie 24 pt. Famous Playe: Fod Mines & Sm. .. Fed Mines & Spf.. Fisher Body. {Fisher B of O pf. Freeport Texas... Gen Am TankCar. Gen Mot 6% deb. .. {Gimbel Bro: Glidden. . Goodrich. Goodrich pf. Goldwin Corp. Granby Consol. Gray & Davis. ... Great Northern pf. Great Nor Or¢ . Guantanamo Gulf States Steel. Harbjshaw Cable. Houston Ofl. Hudson Motors. Hupp Motors. Hydraulic Steel. {Hydraulic Sti pf. {Inspiration. .. Interboro Metro Interborough w i.. Intl Agri Chem pf. Intl Combustion Intl & Gt Northern Intl Harvester. Intl Mer Marine... Intl Mer Marine pf Int] Nickel. : 1Int] Nickel pf. Iron Product: Island Oil Jewel Tea. Jewel Tea D! Jones & L'ghlin Jones T IKln-ll City Sou. Kansas & Gulf Co. IK. ser (Julius)... Kelly-Spring Tire Y TR v TR} . !Lnrfllard (P). Mackay Cos. lMlck Truck. Mack Truck 2d. Marland Ofl. . Marlin-Rockwi Martin-Parry. Maxwell (B) May Dept Stores.. Miami Copper. Middie H"!‘” Oil. ee! ns, for the most part, were iM (Mo Pacific. Mo Pacific 'Montana Po Moon Motors. ..... Mother Lode Clta. Mullins Body. Natl Acme. . Natl mcou',. Nevada Copper. New or'l'u’:ll N ¥ Central. N N N Y O & Western. { {Notth American North American pt Northern Pheific. . for |Ohio Body & Blw. Oklahoma Pred. Otis Klevato! egzise =gefess mgges, zu vy uzaegyogx 108 ns% 1% 1% n% Y% 9% 13 % Central Leather... 33% “% o% 0% 102% Y % 78% 14% 2 24 % % 1% 144 132 a "3RREEE § “ L g R UL PO EU L UL LI z §ag=gangge “h "% fsyge £ sessies sesdyeseyaraiygtiegeanygiy ;n:n:;,fias g & ¥ Dook....... ¥ NH & Hartfd. Egee§ sy nZagyyszubiipuasns-glzyesiisesasy, ue = B LFELIR LI R PR T EORE P E §53 B H § slgz, ol 3 3 H g¥z-gsaynugapey exgusax 2953230E0isygnag.glizyegfugazgss, geg) zginE 333,302 -3 & §-gizgegiasa 26% | Reading 1st pf.... 2% |Royal Dutch...... 3 sF5eRRRERNREY - sFg-33Rne8nsy * . Close. i. % % % 8% “% Pan-Amer Pete. Pan-Am Pete (B). Parish & Bingham Pennsylvania. bd 8 - % u% EL L O Pere Marq pf. Phillips Jones'pf. . Porto Rico Tob Pressed Steel Ca Producers & Ref. . Public Serv of NJ. Pullman Co. Punta Alegro. Pure Oil. Ray Con Copper. Reading. §sgaangsggnzzenaagusngan ys §35338a00aartgancgst.y Rep Iron & Steel. . ‘Reynolds Springs. Reynolds Tob (B). 133531 31 E RS L FLELFELEG FH S LI N o & St L & San Fran St L & San Frpf.. St Lauls Southwn. Saxoy Motors. ... .88 « |Sears Roebuck. Seneca Copper.. . Shell Trad & Tran. $ifell Union pf. Sinclair Oil. Sinclair pf. Southern Paciflc. . Southern Rallway &% lstand Oil of Calif. Stand Oilof N J wi tand Oil of N J pt Steel & Tube pf... 44sterling Prod tern Bros pf. Stewart-Warn *|Stromberg Carb Studebaker. o Superior Oll. Sweets Co of Am. . _ |{Texas Company... Texas Gulf Sulphur Texas & Paciflc. .. Texas & PC & Oil. £2% | Tide Water Oll. * |Timken Bearing. . Tobacco Prod. . Tobacco Prod A Tobacco Prod pf 4 |Tol St L & West. §5°% §83=.548 e e i 4§ L HLH =8 FER iflflfig = & Trans Contl Oil. ‘Transue & Willm: Union Oil United Alloy Steel United Drug. United Retail Strs. U S Cast Ir Pipe U S Indus Alcohol. U S Rubber 1st pf. melt & Ref U U S Steel.. Western Elec p‘ Western Md. . Western Pac pf ‘Western Union. Westhse Alr Brke. Wesths& Eles & M. Wheeling& LE... Wheeling & L E pf. ‘White Eagle Oil White Motor. White Ofl.... ‘Wilson Company . ‘Willys-Overland. ‘Willys-Overland pt % ‘Worthington Pmp. 8BY HOURLY SALES OF STOCKS. 1lam..... 2640 12m. .5 ROCKVILLE. ROCKVILLE, Md., December 16 (Spe- al).—Barry Mulligan of Waspington, formerly of this county, is the ‘plaintiff in a suit for absolute divorce filed in the circuit court here by Mrs. Grace C. Mul- ligan of this county. The bill, which charges desertion sets forth that the couple were married in Washington on June 7, 1911, and lived together im Washington and _this county. until April 14, 1919. Mrs. Mulligan also asks the court to award her the cus- % 3% £ 6% tody of the couple’s only child, Barry |y, Muiligan, jr.. aged ten years, and to require the défendant to provide for the education and support of the child. Mrs. Mulligan is represented by Attorneys William M. Ellison of Washington and William H. Talbott of_Rockville. For the benefit of the building fund of St. Mary's Catholic Hall hers, and under the direction of Miss Lillian Morgan of Rockville, an entertain- ment was given in St. Mary's Hall last evening. The program included selections by a Hawailan orchestra, under the direction of Mrs. Alma Wolking of Washington, and instru- mental and vocal numbers, dances and other features, those participat- ing bging Misses Marian Hines, Doris Keane, Margaret Mansfield and Phyl- 1lis Price and Mrs. David H. Kincheloe, all of Washingfor. A dance followed. @1iss Jessie Allen Wright of Lynch. burg. Va., and Hugh Glen Eggleston of Charlottesville, Va., were married in Rockville Thursday aftéernoon by Rev. P. Rowland Wagner, pastor of the Baptist Church. Upon the conclusion of the testl. mony in the case of Robert W. Owens of Hyattsville, against the mayor ahd council of Laurel, Md., which was an action to recover $2,200, -alleged to be due the plaintiff for street work and which,was removéd from Prince ?flaorgal county to this county for 2] ment of non pros, Which was al- lowed by the court. The plaintiff has the right to institute a new syit. The case was removed here for thal when the mayor and council made afidavit that it dild not belleve a fair and impartial trial could be had innl:rln(‘; %eor{udeo%nty. v. P. Rowlan agner, tor of the Baptist Church, omcnfi' at the marriage here yestérday after- noon of Miss Mary Cordelia Donald- son of Washington and James Fletcher Goins of Wavarly, Tenn. Others married here were Miss Florence H. Trumbo and Enoch W. Downs, both of Baltimore. : - 4 Cement Sec. Corp., $1 Cement.\Sec. Corp.. Q., Bdmund'Jones Corp.. -al::nuon Corp. P 5 3 SENY B3 8 8 Dee. e m*fig i whavors Miiia, Winsboro Mills, BAR SILVER PRICES. LONDON, December 16.—Bar silver, 30 7-16d_per ounce. Money, 1% per it Diseount rat EE..-mnu. x?m-. 35 103% per WEW TORXK, Decomber 16.—Forstan % | but not so much. 48% | worthy all through the week that im- INTODAY'S TRADING i |Libertys Sag During Short Session—Foreign Issues Show Strength. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 16.—Bond prices generally showed a firm tone during the two hours’ trading to- day. ‘The little change In libertys was toward lower prices. The tax-exempt 3%s continued ‘strong. It is remark- able how littie adverse affect the gov- ernment’s refinancing operations have had on the investment market. Foreign Issues Gain. Reports of some aid to Europe which so far have had little effect on prices of foreign honds may* have been responsible for the advance in quotations today, particularly in the case of ‘ the French cities issues. French government bonds were helped It has been not provement in French securities has not kept pace with improvement In tranc exchange. It must be obvlous that the general Furopean situation cannot be cleared up without the aiding of the credit of France, but so far this idea does mot geem to have impressed itself on American investors. The United King- dom 5%s of 1937, the purely inves menlt issye, were acttve and higher making a new high on this Here the testimony of the exchange market seems to have been listened to with respect by bond buy- ers. . . Rafls Aré Irregular. Railroad bonds moved irregularly to- day. St. Paul issues were heavy again, but without any great decline in quo- tations. Southern Railway obligation: were fairly active and mostly at ad. vancing figures. Northern Pacific és held very firm Erie bonds did a little better. Curi- ously enough the convertible As sold above the convertible Ds. e mort- gage is the same and the “Ds” sl have gheir conversion privilege which, of ¢tourses has no value at present and does not seem likely to have in view of the Erle's financial condition. The weekly statement of 784 mem-+ ber, banks of th® federal reservi .b)..l.m for the week ending Decem: The net liquidation o ing banks during this week was only $4,000,000 1n investments. MYSTERY SHRDLD STERIINGS RSE Sensation of Week Hard to Explain by Experts in Finance. By the Associated Press. NEW YORK, December 16.—Chief in- terest in the financial markets this week centered on the sensational rise in ster- ling exchange, demand bills touching $4.69%, the highest price reached since March, 1919, and nearly -13 cents above last Saturday's closing quotation. A subsequent reaction sent the price back to $4.64. While most -financial experts that the balancing of Great Britain's budget and the steady’ improvement in her foreign trade balance make a com paratively early return to the par rate inevitable; the rapidity of the recent rise created a great deal of mystery as to: how it had been bro News dispatches from abroa “specia] operations,” and rumors were current that the upward movement was the result of British government mgnip- ulation in order to facilitate the fund ing and payment of interest on Britain' debt to this country, but no official ex- planation was forthcoming. . Thé rise in sterling, which made its depreciation from par less than 5 per cent, automatically resulted in im- porters paying higher duties on mer- chandise brought here from Great Britain. Under the new tariff law, ‘when the depreciation is more than § per cent, the valuation of foreign currency for customs purposes shall be “the buying rateiin New York at noon on the day of expprtation,” which is determined by thd federal reserve bank. When the depreciation s than 6 per cent the valuation is ured on a par basit Stocks and Bonds Higher. Stock and bond prices moved to slightly higher ground in the week’s lirreguiar dealings. Specialties in which there are extra or stock divi- dend possibilities received a great deal of attention, with standard shares enerally showing fewer material changes. Steel shares were active and strong, in reflection of the optimisti¢ pros- pects for the first quarter of next year. - United States Steel common touched 108%, the highest price in more than a month. - Establishment of a new high price for Copper at 14% cents a pound, combined with speculative belief that the proposed Anaconda-Chile merger wopld reduce the competition now af- forded by South American coppers, stimulated progress of rising. prices in_the copper group. 7 nite progress toward two rail way mergers was made during the week. Directors of the St. Louis and San Francisco railroad announced their intentioh of acquiring the In- ternational and Great Northern. The Van Swerening in ts were report- ed to have obtained an option on the majority holdings in the Chesapeake and Ohio. Carloadings for the week ending December 3 showed a decrease of 110,000 cars below the week be- Thanksgiving holida: Call Money Plentiful. Most of the European ekchanges moved to highef ground during the week in sympathy with the rise In sterling. Dutch guilders touched par for the first time in two vears and Swedish kronen duplicated their prévious hjgh. Japanese yen also e tablished & new top. . Call money was plentiful most of the week, most of the 4 per cent th ruling rate. The money rates conti; ued on n 4% per cent basis for the I the thirty-day maturities and 5 per cent | D! although a | uct! longer periods, the rate holding at 4% per cent for the prime names. —_— FOREIGN EXCHANGE. | (Quetations furaished by W. B. Hidbs & Oe.) Nemiml Iuw-ca * gold valve. ,12:] 4.8663 4. y ] -1y, 1.00 193 bar silver, 62% ; Mexican dolfars, 47%. | . UNITED STATES BONDS. Liberty 34 434s. 163 :'u Liberty éth ¢%e 53 84 Victory 4%s°33 88 10034 10038 US4%s19052... 139 "0 FOREIGN ,GOVERNMENT, STATE ARD MUNICIPAL. Belgium 6s. Belgium 8s. Bolivia 8s. Bordeaux Brasil 7 Brasil gs. Brasil 7%s. Canada 5s 1926. Canada 5%s 1939, Canada s 1982 Chile 851926 Chile 8s 184 HHLEHHRLE b EL L §53s3 L H L H 208 Csechor Dan Municipal 88 Dan Municipal 3¢ B. Denmark 8s. Denmark 6s. Dutch East Ind &s Dutch Past Ind 6 Wrench Govt 8s. French Govt 7% Halt! 6s ctfs. Italy 6%s 1925 Japanese 1at 4: Japanere 3d 4¥%s. Japaness 4. Lyons 6s. Martseilles Mexico bs. Mexico s large. Mexico 4 Montevideo 7 Netherlands €s. Norway Se.. L L EHHEH 3388 R b £ & =s=§= l!!!gg!,!! (35 2= i:iig::s:fi megeazy H 3 Queensiand 6s. RiodeJanss1 Riode Jan 8 1947. 8ao Paulo. City Befne, Dept of, 7 Solsson: Sweden & Swisé Confed s £ 8s. Ud Kingdom 53%s 39 168 Ud Kingdom 5%s "87.140 Uruguay 8s 194 1 MISCELLAN! Afax Rubbar 8s. s Am Agri Chem §s. 4 Am Smelt & R 1st 52, 25 1n EOUS. 9 * 0% MW Am T & T cl tr 4 LELLE B Barnsdallsf8s B. Rell Tel Pa 71 . Bethlehem Steel rf b8 ‘Beth’em Steelsf s.. HE HL Bush Tm Bldg §s Central Leather 5s. Cerro de Pasco 8. Chile Copper 6s. Chile Coy fllg g & EH 63 Comp-Tab-Rec 6s "41 Con Coal M4 ist rf §s Cuba Cane S c deb 85 S & East Cub Sugar 7 Empire F & G 7% Fisk Rubber 8s. Gen Electric deb 8s. Gen Electric deb 8a. . Gen Refraetories 6s. Goodrich (BY) 6%s Goodyear Tire 88 "31. Goodyean Tire 88 “41. Holland-Amer e 8s. Hiinots Steel 4348 *40. F3§Regaangsi Inter Paper 1st 5s B. ~wables S8ResvafavnaansBuanBile weneERutan 33833828 Sa2aRafeasygitag P AL REH AL R Lagc Lorillard (P) Bs. Magma Copper cv 7t Manat! Sugar & f Ts Mariand Ofl 7%s. Marland Oll 8s war. Mexican Petrol 8 Mich State Tel 1st S Midvale Steel Ss. Montana Power 58 Morris & Co 18t 4%4s. New England Tel bs. NYGELHG&PEs. New York Tel 6s *41. New York Tel 4 }s. North Am Edison 6s. Northwest Beil Tel 78 Otis Bteel 7%s. Pacific Gas'& El bs... Pac Tel & Iel 5 '5! Pan-Amer Pete 7s. Phila Co ref 6s A. Producers & Ref 8s.. Producers & Ref 3s w HE § E S Stnclalg Pipe Line Bou Por Rico Bug 7 Stand Ofl of Calif s, Bteel & Tube 7 Tobacco Prod s 7s. Union Bag & P és. Union Tank Car 7 U B Realty U 8 Rubber 1st ref bs. Utah Power & Va-Car Chemical ‘Warner Sugar 7s. ‘Wickwire Spencer 78. 3 Wilson & Co 1st €s. DUN’S TRADE REVIEW. —_ Colder Weather in Some Areas Big Help to Business. NEW YORK, December 16.—Dun’s connnnnSananualal vnonvusvenBiiceRalntannn b L LU UL LR L TR H TR PR LN b 01 190% the plaintiff asked for a judg- | fore, which was attributed in part to|Review says toda; Hollday trade is full awing, many ‘stores being crowded with GChris mas shoppers, and coldef weather in the west and elsewhere, with snow- fall in some places, has further quickened retail distridution. These are-purely seasonal phases. but there | A 1s evidence this year of & larger pub- 116 purchasing power in most sections of the country. Employment of work- ers has gained appreciadbly, reports of idleness now being the exceptio: s for leading agricultural ave risen substantially, improv- “mims o fming Szl o position has b emed. n Mmeasural ‘With other constructive forces also operative, including the in the reign exchan situation, there & solld basis for confident Ing the future. IS buy- ing were on! ediate or near- by needs, the ¢o! a.“n m.n:.uu. but i rers months l.hm new rtance has eloped in dlfferent nstances. ' CHICAGO STOCK MARKET. - . [CAGO, December 16.—Following CHICA! 1s & report of today’s sales. h! “low and closing quotations at the &n« Stock Exchang 2 . 19 9% | Inter R Transit Snct. 2 RAILROADS. Salos 0% % sesziny ] ™ % 5% g 83 Qa RPapRXER g T4 LEL PR FLH L LR H U FELRL Q 2 b 2 R A 0% 90% 8% 4% ok eu 0 %0 104% 104% 130% 0% 10% n% % 0% 101 Great North gen 5%s Green B & W deb g Hudson & Man ref Hudmon & Man adj Tl Central 5%s .. 18 Inter-Mer 4 %s ctfs. . Inter-M 4148 ctfy 8 Inter Rap Transi n% 1% ko] ki 5% Int & Gr'Nor.ad) &, 0% Kan Cty Sou 3s Kansas City Sou 8s.. 2 Kansas City Term 4s. 38 Lake Shors 4s 1928, Lake Shore 3%s. ... Lehigh Val cn 4s 2003 Lehigh Valley ¢s La& NWbs...... Manhattan Ry cn 4s. 1 Market St Ry cons §s 41 M&StLrefextbs.. 1 ‘% % 1 5 1% 1% l(.l:“ 1044 Y% el ” 2 3% 3% 0% 60% 1 N ¥ Central deb 4 "3 N Y Cent ref imp &a. . :: New Haven deb 48 57 10 New York Rys ad} 53. 20 N Y State Ry 4% 10 NY West & Bos 4%43. § Norfolk & West cn 4s 12 Norfolk & Weat cv és 1 Northern Pacific 3s.. 8 North Pac ref imp €s. 17 Ore Sh L con 58 *48... 1 Ore-Wash 1st ref 4 Paris-Lyons-Med 6a. Pennsylvania gen bs. Penn gen 44a..... Pennsylvania 6%s. Pennsylvania gold 7 Peoria & East inc 4s. Pere Marq 13t 5s. Reading gen = StL&SFprindsA StL& SFprin StLASF inc és. HuubnomealtnBuilcnnabueas valluvecBe 0 Western Maryland és ¢ 61% Wheel& LEcon4s.. 1 61% TOTAL SALES (Par Value): llam... 207100 12noom... 630000) ALARMED OVER RUBBER. % |H. S. Firestone Fears Great Jymp in Present Costs. 'AKRON, Ohto, DecomBer 16.—Har- vey S. Firestone, president of the Firestons Tire and Rubber Company, in ‘an address at the annual stock- holders’ meeting, declared that “un- less action taken by England afd cer tain colonial governments” relative to the production and exportation of crude rubber “is rescinded or modified In a drastic manner” the effects evill be “far reachins. Mr. Firestong declared that “the limiting of production and exporta- tion already has caused an increase of 100 per cent in the cost of the crude product since announcement of the new program was made.in Octo- Dder. “This present advance. r increased cost to the Unll.tplus A over $100.000,000 on the comsumption for xn‘ad he contin; s must be Da: on t 3 user. This I8 the time for lnhnn!;nlttl:: States to pass such legislation ag will encourage American capital ¢ - velop rubber plantations in ths Philip- pine tslands, where the soil and cli- matic conditions are equal to any rupber-producing belt, and to. nego. l((l .(wu‘h thla South American repud- ics_to develop product! rubber regions.” 5 ionapin thels " SHORT-TERM SECURITIRS. (Quetations turaished by Redmesd & 00.) Aluminum Co. of Amer. Aluminum 7 1933, American Coften Oil 6a 1934. Amcrican 2o a "% can Tel. . Tel s 1935, Dbette rment | Hocking necott 1’:&1 MeNefl M. 8 P. & orris % 7% |6 1% 10243 10% LOCAL WHOLESALE MARKET. Dealers are unable to forecast probable prices of turkeys for the Christmas holiday season. Early re- ceipts of the king of fowls indicate & much larger supply than was re- ceived for the Thanksgiving trade, and it is possible that cheaper prices will rule. There will be no shortage of slmr e . l;l':r-—smmly fresh, selected, u:;- per dozen, 55: ipts, 52: SontnEen m, 55: average recelD! Live stock. {1 i maammTc.'".‘ chloz: La choice, 55 r 1b.. 0 em:h;nc live hos! 0025.00. Lemons, _per bo: 00a7.00. Gy [0023.75. ‘Tange: rins, 250a3 000010 00 5: 5.25a5.75. Cabbage, per 100 Ibs.; nearby 1.5022.00. Egg- 00, Tomatoes, 00. Beans. ,0029.00 per Florida, 85.75. rl’ box, 0084 50 per basket. Peas, 'eppers, r crate, 0. Kale. " per Db, . 1.0081.50, , per bbl.; 2.00a3.00. 'Celery, per dogen, 50a1.00; California, per crate, 6.00 '%:0' California grapes, per crate, 1.60a *GRAIN AND PROVISIONS. BALTIMORE, Md., Dec. 16 (Special). —Potatoes, white, 100 pounds, 50al.2! 150 pounds, 90a2.10. Sweet potatoe: barrel, 1.00a1.75; bushel. 50a65; bas ket, 25a35. Beans, bushel, 3.0024.00. Beets, hundred, 4.00a5.00. Brocoli, bushel, 25a40. Brussels sprouts, .00. bushel, hundred, 4.00a5. C: rel, 3.00a6.00. Celery, hundred. 5.00a Cucumbers, crate. 5.00a8.00. Eggplants, crate, 4.00a6. Horse. radish, buehel, 2.50a3:50. Kale, bushel, 25a40. Lettuce, barrel, 1.25a2.25. Onion: 75._Oyster- plants,’ hundred, 6.00 Parsnips, bushel, 1.10a1.25. Peaw, bushel. 4.00a 5.00. Peppers, crate, 3.00a4.00. Pump- kins, hundred, 10.00220.00. Spinach, bushel. 75 Squash, crate, 3.00a 4.00. Tomatoes, crate, 4.00a; nips, bushel, 50a60. . Apples, packed, barrel, | bushel, 50a1.50; loose. busl bask: 25a40. Cranberries, barrel, 11.00a14.00. Grapefruit, box, 2.26a3.75. box. 3.50a4.50. Pineapples. .00a7.00. Strawberries, uv'.;alr:. 75a90. Tangerines, strap, 4.50a 1 red winter, &pot. no jons; No. 2 red winter, &pot, 0. 3 red winter. spot, no quota 2 red winter. garlick: 1.33%: No. 3 red winter, garlicky, no quotations: December, no bid. Sales—None. €orn—Cob corn. new, 3.85 and 3.90 per harrel; contract. spot, 83 per bushel; No. 2 corn. pot. 841%: No. no quotations; track corn, vellow, No. 2, old to better, 87 per_bushel. Sales—2,600 bushels No. 3 mixed, new, at 82 per bushel. Oats—White, asked: No. 3. 54% Rye—Nearby, $5a95 per bushel; No. 2. western export, spot, 181% per bushel No. 3, no quotatiol Hay—Receipts, 59 tons: market for top grade of timoth 55 per bushel and light clover mixed, 16.00a20.00 per®ton, and for g mixed, 16.00a17.50. Straw—No. 1 tangled rye, 15.00a16.00; No. 1 wheat, 10.00a11.00; No. 2 oat. nominal, 12.00212.50. TODAY'S CHICAGO PRICES. CHICAGO, December 16.—Wheat took a downward swing in price to- day during the early dealings, a bearish construction having been placed on the government crop re- port issued after the close of the market yesterday. Strength in Liv erpool wheat and unfavorable reports from Argentina tended to decrease pressure on wheat to xome extent, but during the initial trading the market showed little rallying power. Strong commission houses were free buyers of May wheat at the start and a large amount of wheat was taken out of the pit on resting orders, which checked the decline. “The opening. which varied from half to 13§ lower, with May 1.21% to 1.22 and July, 113 to 1.13%, was followed by a further decline and then a slight recovery. Corn and oats followed the course of wheat. After opening % to 1 off, with May 73 to 73%. the corn market eased off a trifle more. Trade in provisions was excep- tionally @ull. Pouitry, alive, higher; fowls, 14219 springs, 171%; roosters, 13; turkeys, 35; geese, 1 Open. High. 124 43 s 43 10,30 1027 1030 1067 1050 1057 DAIRY MARKETS. BALTIMORE, Md., December 16 (Specisl). —Live poultry — Turkeys, pound, 47; old toms, 42; poor and crooked breasts, 35; spring:chickens, 22a24; leghorns, 20a21; poor Im} thin, 21a28; pigeons, pair, fowl, 40a70. Dressed poultry—Turkeys, pound, 45a50; old toms, 43a44; pocr and erooked breasts, 35; young chicken: old and mixed, 22a23; old ; ducks, 24a28; gees 24a30. Eggs—Loss off, native and nearby firats, dozen, 50a51; southern, 47a48. Butter—Creame fancy, 55856; prints, 56a58; nearby creamer; 45a47; ladlex 35a36; rolls, 33a3 store packed. 33: dairy prints, 34a3 process butter, 40a41, CHICAGO LIVE STOCK MARKET. CHICAGO, Degember 16.—Hogs— Receipts, 9,000 liead; holdover, 11.2 closed active, steady with Friday's Slose; bulk, 220 to 260 pound butchers, 100a8.05: bulk, 140 to 180 pound aver- ages, 8.10a8.20. D, sows mostly, 7. 28.20; heavy hogs, 7.90a! doatlo; lgnt. 8.05 o 1 8.2 1.40:5.10 packing sows, rough, 7.16a 7.60; killing pigs, 8.0028.20. Cattle—Receipts estimated 1,500 compared week ago: Beef steers unevenly, 26 to 75 lowet: in- between grades reflecting most de- extreme_ top Christmas year- 14.00; best matured steers, 3.00; better gr-du of butcher she ock, 25 to 50 off; lower grade beef cows and helfers. canners, cuiter: bulls and veal calves, about steady: stookers and fesders, 25 to 40 lowe week's bulk prices beef steers. 8.00: stockers and feeders, .75 er shé stock, 4.00a6.50; canners cutters, 2.76a3.35; veal calves, oo Receipts, 1,000 head: com- and llt!.flcr ‘weight fed weak to unevenly lowe: yearling 'emu,“l: to‘ 78, I'O"l % !:: .tn“z 1ly st eeders, strong to B s wesk's top fat lambs, 16.60 16.50 to. city butchers, el 5215.40; aclipped eighty- ambs, 13.00; choice eighty- pound fed yearling wethers, 3.50; heavy fat ewes, 5.0 light- er-waight kinds up to 7. 100-pound aged wethers, pound, | The jcultivated. GOTTON SHORTAGE Weather Next Summer Vital * to Future Prosperity of Great Industry. ROYL YORK. December 16.-—The barometer, the thermometer and the weather man will determine the fu- ture of the textile industry of the United States in 1923. Dispatches re- celved today from the cotton-growing sections leave not the slightest doubt in [the world that at least 40.000.000 acry of 1and will be planted to cotton next year. A world shortage exists"in the cotton trades. If textile mills run ay they are running now, there will ba two months next summer when thera will be no cotton to supply their needs. A tremendous crop is necessary 1o fill not only immediate nceds, ut 1o provide reserves for this country and for foreign nations The acreage will be planted to assure such a croh, but only the weather will determine whether it is possible for the Unite! States again to raise a crop adeguate for world requirements. Weather Conditio: Back in 1916, when Pershing's troops invaded Mexico, a bunch of wild young Mexican fanatics banded themselves in to an organization vowing « to transmit an incur- able digease to citizens of the United ates. Their neither ccessful nor necessary, even from their own distorted point of view, for nature already had done a work of destruction for them. The boll weevil crossed into the United Staies from the southern side of the Rio Grande With favorable weather conditions and with proper care and an adequata supply of insecticides, 1923 will sen the elimination of the boll weevil, at least 80 far as it menaces the great cotton trades. If the supply of cal- cium arsenate, now supposed to ha cornered, or at least gubject of acute market manipulation. Is inadequate, it the weather conditions are unpropi tious, the United Staler will face = crisis not experienced since the civ war stopped the pindles of the world and planted will be intensivel: The supply of fertilizers will be adequate and fully employed but the weather man will have the final say. New Wage ds Planned. Further danger for the textile tr and for every other industry lies in the unmistakable trend toward higher wages. The cotton mill operatives of New England, having defeated an ef- fort to reduce their wages after & long_struggle. are preparing to de- mand an increase over the present scale. Building mechanics all over United States ire demanding highe: wager. The majority of them will be granted their demands on January 1 But urgent as Is the demand for housing facilities there are point which it can and will be checked. contractors today are estimating the height of wage and material Ccosts which will mark the demise of the golden goose which has supported the business world throughout 1 To merchants and busin general, however, this is in the future. For the present they are en- joying a holiday trade which has not been equaled since the war. Betler and more significant than that. the manufacturers of work garments are running their factories at capacits and are finding & market for ever: work shirt and pair of overalls U they can turn out. Great Buying Wave. The men who wear the xork shiris ang overalls in the daytima, however are the niainstay of the market, for $75 overcoats and $10 siik shirts for vening wear and expensive garmonts are seiling at a rate equaled during the relgn of extravuguice which immegdiately followed the armi stice. The latest woolen lines open to pur- chasers record an increase of 5 to 15 per cent in prices, as compared with a year ago. “Wool growers wio have been asked to contract their un- grown wools for next season are de- manding an advance of from 20 to 60 per cent over lasi season’s price. But in wool. as in cotton, the weather man will have the final sa) (Copyright, 1922.) ALEXANDRIA. ALEXANDRIA, Va., December 16 (Special).—Alexandria Post. No. 24 American Legion, at its annual meet- ing, held last night in the rooms of the chamber of commerce, elected these officers to serve for the ensuing year: Elliott F. Hoffman, commgnder. Robert Thomas, vice commander. Charles E. Corbett. adjutant; Milton Glasgow, treasurer: J.” J. Champion Anderson Somers and Capt. €. Keith Carlin, members of the executive com mittee; D. C. Pfeil, sergeant-at-arms. John T. Worthington. chaplain: J Randall Caton, jr. historian: Nelson T. Snyder, insurance officer. The appointment of Wilder M. Rich. city manager; Mrs. Gardner L. Boothe and Capt. C. Keith Carlin as a com- mittee to solicit contributions to the Christmas fund for disabled world war veterans in the hospitals in this state was indorsed by the local post The local post also donated the sum of $10 for this calse. C. J. Johnson, col Policeman Durrer, was held for the action of the grand jugy in the police court today on & Chutlbe ‘of violting the provisions of the state prohibi- tion law. On a truck beside Johnson. d, arrested by colored.eof Washington, leged, the police found one full quart apd & pint of corn liquor, which were sécurely wrapped in newspaper. Berry, who aleo was taken in custody sald he was not aware that Johnson had liquor, he having agreed to drive Johnson to this city for the sum of $1. Johnson's bond was fixed at $500 and Berry. a non-resident, was re- wired to furnish bond in the sum of $200 for his appearance as a witness before the grand jury. The dance and euchre given by Al- oxandria Lodge of Elks last night xt its home was largely patronized anu greatly enjoyed. The successful contestants at euchre were awarded handsome prizes. Pro- ceeds of the affair wilgbe used for the Elks' charity fund. Baskets will b sent out next Saturday evening by this lodge to the worthy poor of the city by @ special committee, of which W. E. Moore 18 chairman. ‘A fine of $300, to which was added a Jail sentence of three months, was the verdiot of a jury in the corpora tion court yesterday In the case of Frank alais “Nooks” Payne, colored charged with violating the provisi of the state prohibition law — FEWER FIRMS FAIL. NEW YORK, December 16.—Busi- ness fallures were fewer in Novem- Dber this week than last week. For the week ending December 14, Brad- street reported 445 defaults, com- red with 463 las week, 565 in the fike week last year. 414 in 1920, 125 in 1919 and 139 in 1918, According to reports R. G. Dun & Co., this week's failures numbered 396, against 484 last week and 573 in the same week last year. A decline in the nuimber was registered in all sec- tions of the country. CHICAGO, December 16. bulur“ ;u‘r.k ‘|.’- doulilned lhreqa % from cents & pound for 92 score buttor, I}Il week, while other principal domestic butter murkets re- ‘'mained N“n{lm and steady. The sharp decline followed relatively high prices of several weeks’ duration.