Evening Star Newspaper, January 22, 1923, Page 26

' -FINANCIA INVASION OF RUBR: DEADENS MARKETS e Stocks Almost at Standstill as Results Are Awaited. ' Price Trend Lower. BY STUART P. WEST. atch to The Star, W YORK. January The mar- £ the world today continued to skepticism, as they had done .t week, regarding the success ‘te French measures in the Ruhr. amount of military coercion can sarce men to work agdinst their will, 22d the big news over Sunday was, 3 course, the decision of the German iners, following the gecision of the erman railway men, to quit. Apart from collecting on the repa sations, France physically needs the whr coal. So does Germany. The e in this morning’s di_!p‘.\ll‘heu xiich spoke of a “contest of endur- Feo. scemed to hit the nail exaetly + the head. But in the meantime nee and Belgium have to consider Seriously what it would meun far their own finaaces if Germany is able tp persist in her present policy of ng the Versailles treaty as & been violated and conse- 11y ceasing to make deliveries of Talk of Internal Loans. In this event both countries would have to tax their already over- burdened finances with huge internal oa because the present selling prices of their external loans is suf- ticient to show that they cannot ex- pect any further substantial help from outside capital. ANl French and Belgian govern- ¢ and municipal securities® were k again today. a number of cpresentative issues dealt in on ew York market seliing ai_the est they have ever touched. This ulonding of Kuropean bonds was ac- | +mpanied by severe pressure against | French exchange. The daily “new low record” for serman nwmrks, was of course, to be sapected, but the more serious thing for the situation in general was that the france got down not far from 6.30, which was pretty close to the Névember low of 6.17. and compared with a high of above 0 little mere 7% "a'month ago. The reception en to these developments by the 1 ¢ financial markets was lnd"nl_lca\ “ that so consistenly maintained week. sling The ‘e’ stead Stork rhet D stock market today was a s it was on Sat- was lower, but only a nglish security markets The waiting affair, just wrday. It was characteristic of the B today that nobody, whether {vidual operator or pool manager, ared to take any further chances cne way or the other until a better line could be obtained on the sequel to_developments in the Rubr. Traders were more inclined to sell than to buy. But even those on the short side were willing to admit that no long stocks of consequence were belng dislodged. In no day for a loag while have there been so few movements in_speclalties. Weakness in International Paper appeared to_result from selling due to advance knowledge regarding the annual report, although this is not likely to come out for another two months, The company seems to have had certain large losses which it did not charge off and these will have to be' sct against the improved earnings for 1922. Whole List Irregular. Anticipation of an incréase in the! dividend was responsible for the strengih in Owens Bottle. The stock now pays $2, and the impression is that this will be raised to $3 a share. Timken Roller Bearin§ and Macy were two of last week's favorites which felt the effect of profit-taking. Cosden was the strongest of the oil stocks. Interest in the rails quickly died away as soon as it was seen that the pool in Southern railway, Maving put the stock from around 23 to above 80, was westing on its oars. Union Pacific_sold at the lowest in some time. The margin of safety back of dividends In its case Is not at all what ie in the cases of other carriers imilar rank. Directors of the Vivaudou Company ure scheduled to meet before the close of the month and put the stock on a 52 dividend basis. Vivaudou earnings are sald to be showing to exceptional advantage, sales in the first_half of tils month totaling $833.000 or bet- tor than three times the same amount of'sales last year in the same period. “ivaudou stock was strong today in ngicipation of the dividend action. Pressed Steel Car directors will méet on Wednesday for dividend ac- ton on the preferred issue. Weakness tniboth the common and preferred stdeks has caused the circulation of a rumor that the preferred dividend is ‘in danger, but this view is not shared by the majority. Tz weak- ness in Pressed Steel Car \common was caused the selling of & large block of stock which was neld by a firm which recently failed. WHEAT SHPHENTS FALLOFF N WEEK Exports of wheat from the United Brates for the week ending January 20 totaled 2.960.000 bushels, the De- partment of Commerce announced to- day, as against 3,533,000 bushels dur- ing the preceding week. Exports of corn were 1,642,000 bushels, compar- ‘ed with 1,421,000 bushels the pre- vious week. Flour exports totaled ' THE EVENING STAR, WASHINGTON Received by Private Wire Direct to|The Star Office Allfed Chemical. Allls Chatmers. Am Cotton OIl. 'm Druggist. Am Hide & Lea pf. m Ice. . oves Am International. Am La Prence.... Am Locomotive Am Loco pf. Am Metals. Am Radiator...... Am Safety.Razor. Am Ship & Com Am-Smelting. Am Snuff... |Am Steel Fa: . Am Steel Fdy pf. Am Sugar. Am Sugur p! Am Tel & Tele tAm Tobacco. .. Am W Wk 65 pt Am Woolen. Am Zinc & Le: Anaconda. Asso Dry Goods. Associated Oil. Atchison Atchison gf. Atlantic Cst Line Atlantic Gulf pt. Atlantic Refin pf. Atlas Tack. .. |Austin Nichols. Baldwin Loco. .. Balto & Ohlo. |Balto & Ohlo p Bangor & Ar'ust'k Beechnut Packing Beth Steel | Beth Steel (B). lauh St17% (n)... Beth Steel 8% pf. . Booth Fisherles. Bklyn Edlson. . Bklyn Rapid Tra Bislyn Rap. Tr ctfs {Brown Shoe,...... Burns Bros (A) | Burns Bros (B). .. i Buff Roch & Pitts. {Butte Copper Butte & Superior. | Butterick. . .. C2ddo Oil......... Californta Petrol. Callahan Zinc. ... Calumet & Arizona Canadian Pacific Case (3 1) Pf. Central Leather. Central Léeath pf.. Cerru de Pasco. Chandler Motor. Chesap'ke & Ohlo. Ches & Ohlo pf w 1. Chi & Alton. Chi & Alton pf. |Chi Great W pt Cry Mil & 8t P {Chi Mil & St P pf. Chi & Northwn. Chi Pheumat Tool. |Chi R 1 & Pacifi Chi St P M & Om. Chile Copper. Chino Copper. Ciuett Peabody Cluett Peabody pf. Coca-Cola. Coca-Cola pf. Colo Fuel. Colo & Southern. .. Columbia Gas Columb'a Gruph. . Columbla Graph pt Com Solvents A Com Solvents B Comp ‘fabulator.. Cons Gas of N Y. Consol Gas new . {Cons Textile. .. Cont Cag. . Cont-Can w i Continental Motors Corn Products. Cosden & Co Crucible Steel Dome Mines. Dupont (E1). Dupont deb. Eastmun Kodal Electric Stor Bat. . Emerson-Brant pf Endicott-Johnson. £ndicott-John pf.. Ere..... {15ri6 1st D! Erie 2d pL. . | Exchange Buftet {i¥amous Flayers.. {ifed Mines & S pf.. 47 Fidelity Fire insur, 110 ' Fifth Ave Bus w . 8 Fisher Body 202% Fisk Rubber. Freeport Texas... 20 |Gen Am Tank Car. 68 Gen Am Tank pf.. 1004 Gen Asphalt. Gen Asphalt pf. Gen Cigar. Gen Electric Gen Elec spl w 1. Gen Motors Gen Motors pf... Gen Mot 6% deb Gimbel Bros. Gimbel Bros pt. Goldwin Corp. Goodrich.. Goodrich pf. Granby Consol..,. 24% Great Northern pf. 8% Great Nor Ore. Guantanamo St iGult States St jHartman Corp. Hendee M1g. Houston Oil. Hupp Motors. Hydraulic Steel... 4% ltnols Central pf. J13% Indiahoma. . 18% Interborogh. .... 1% 1ntl Agri Chemical 8 Intl Agri Chem pf. 31 | Int & Grt Northn, 22 10 Law. Close. 0% 9l 3 8 7 Y% 6% 0% 20% 8% 8% n o u (0% 8% el 1790 6% 64 1% 65 [ 98% 6% % 121% 1% us g 108% 1l N [ "% 4 o 9% 29t 1% 4 64 9% 20ty 18 s 6% % u% 1264 % i by 0 n2 e 200% 1453 @ 100 " % uk 4% 3% 1le 1% 8 823 ‘2 Mo Kan & Tex pt. 3t Mo Pacific ® Montgomery Ward 21k Moou Motors. » Mother Lode Cltn. 11% at] Enameling... 6% Natl Lead......... 1264 Nevada Copper. New Or Te. N Y Centry INYChl&StL RS D00k, -t cogon YN H & Hartfd. Y O & Western. . orfolk & Western 111 orth American.. 101% orthern Pacific.. 74 Nova Scotia Steel. 27% Ohio Fuel Sup. 63 Oklaiioma Prod... 2\ Orpheurh Clreuit. . Otls Elevator. Otis Steel..... Owens Bottle. Pacifiz Develop. Pacific Gas & EI PacificOfl. .. Puckard Motor. . . Packard Motors pf. Pan-Amer Pete. .. Pan-Am Pete (B) Parish & Bingham Penn Seabd Steel. . Pennsylvania. People’s Gas. . Peoria & Eastern. Pere Marquette. . Pere Mrq prior pf. Philadelphia Co. .. Fhiladelphla Co pf Thillips Pete Plerce-Arrow. Plerce-Arrow pr.. Plerce OIl. Pierce Oll pt . Plegly-Wiggly. .. !pitts Coal pf - |Pitts & W V = Pond Creek Coal.. Postum Cereai. ... Postum Cer pf. ... {Pressed Steel Car. Sreued Stl Car pf. rodugers & Ref. . Produters & Rf pf. Public Serv of N J. Public Service pf. Pullman Co. Punta Alegro. Pure Oil. .. cens Rallway Steel Spr. Ray Con Copper. Reading.... Readlng 1st pf. Reading 2d pf. Remington Typr.. Replogle Steel.... Rep Iron & Steel. . Rep Iron & Stl pf. Reynolds Springs. Reynolds Tob (B). Royal Dutch . 3t Joseph Lead St L & San Fr: . St L & San Frpf.. St Louis Southwn. St Louis Sow » 'pf. . Savage Arms, . Seaboard Air Line Seatourd A L pf. |Sears Koebuck Seneca Copper Shell Trad & Trag. Sheli Union Sinclair Oll Sincluir pt. Skelly Oil. Sloss-Sheiteld Sloss-Sheffield pt. Southern Pacific. . Southern Railway Southern Ry pf... Spicer Mfg Co. Standard Milling . Stana Vil ot Calf. | Stand Odoi Ny wi Stand Oil of N J pt Stee! & Tube pr... iStering t'rod. . Stewart-Warner. . Siudevaker. Studebaker pf. ... Suviuarine boat. .. ‘Texas Company. lexas Guil Suiphur fexas & Pacific. .. Texas & P C & Oll. Tide Water Oil. Timken Bearing.. ‘Tobacco Prod. . Tobacco Prod A Tol St L & W pt. Trans Conu Vi Twin City R Tran. Cuton Vil | Uiion Pacine Union Pacitic pf. Union Tank Cr pt. United Alloy Steel Uuited Fruit..... United Retail Strs U S Cast Ir Pipe. . U S ¥ood Prod... U S Indus Alcohol. U S Realty z U S Realty pf. U S Rubber. U S Smelt & Ref.. U SSmelt & Rpt. U 5 Steel U S Tobacco.... Utah Copper Utuh Securities. Vanadium Corp Van Raalte. Va-Car Chemical. Va lron Coal & C. Vivadou. Wabash. Wavash pf (A)... Wells-Fargo Exp. 85 Western kiec pi.. 1% western Md T Western Md 2d... & Western Pacific... 17 ‘Western Pac pf... 67 Western Union. .. 109 Westhse Afr Brke. 107% Westhse les & M 69% White Eagle Oil.. 2% White Molor..... 49% White Oil..... %% Wilson Company . Wiilys-Overld.... Willys-Overld pf. ‘Woelworth . © e 15% by o% 66 21% 18% gy 100% 0% 6% 24 % g5ty 106% 128 @% 2% "NEW YORK STOCK EXCHANGE 184 | 19% ut 101% 20 9% 109 8% | ness in foreign exchange, as well as ! Chile 851946 9% 87% 0t 1% Al W% 6 bl 844 | 413 124% m € Wk ey 4% and the Allled Mid 9854 | 107 129 102% A13 1w T 18% W 5 [ % 6% “© w24 | = CHESAPEAKE & OHIO < TRANSFERIS URGED Great Advantages Outlined‘ 62 294 [ 0% w0 o8 a n 1084 53 a1t | ' | uz o4 | 5 u% PN 6l 20% Fy 280 oy oy 3 167 | % nz 1 15 63 205 4 6% | 91 108 Bty % a7 109% | 108 9% ibis 4943 um k] % 4% 22k " | @ o (NEW LOWS SCORED BY FRENGH BONDS Market, However, Holds Up Well Under Trying Strain. Another Rail Issue. | NEW YORK, January lows for French: bonds. declines Quotations for all foreign issues and & heavy market featured the opening jof the week in bonds trading todas {as they uppeared. i Cons‘dering the extremely un {able news from abroad and the e the severe test to which ihe v as suljected last week in the way of oNcrings. the thing not the wouk that the weakness was notsmore pro- nounced. In short. the bond market today as lwell as for some ti W&t testified {10 the strengih in underlying tions. Another fuctor was the { tinued e: in mon Interest in Foreign Group. | Attention in the main s centered jon the foreign group. where both the French s and the French $s made new lows. Department of the Seine 5 seiling below 80 did the same. | Belgian suffered likewise. And the highly speculativ rbiun 88 and City ‘vm s a U con- s a ations like where the willingness of speculators to assume risks overbilanees the desire | of investors to avoid themn i When this point i1l be reached in the e of foreign honds. no one can predict. Meanwhile, it Iy admitted that new foreign finan- cing would not meet u very favorable reception in thi¥ market. There were a few points or strength, sues. . Both also Bethelem steel e Steel ues were notably in the C! firim, ile Copp: New Railroad Iusme. Amonz raillroad bonds Wes'ern Murylaid t= and §t. Louis Iron Mountain and Southern is were prom inent. Goodyear $s of 1931 were higher. The most important of today’s new issues was the Northern Pacific re- funding and improvement mortgage 5s, series D), offered to the amount of £10,000,000. at a price to yield 5.05 per cent. in Plea for Approval Made Before I. C. C. Plans of O. P. Van Sweringen of Cleveland and his associates for tak- { ing control of the Chesapeake and Ohio | raiiroad were laid before the Interstate | Commerce Commission toddy, and no opposition to the design was pre- { sented from any quarter. : Witnesses led in behalf of the Van Sweringen group, including J. J. Bernet. president of the New York, Chicago and St. Louis, declared the association of the with the other lines now controiled by the Van Sweringens would lead to betterment of the public service and ex- tension of traffic facilities, especially increasing the flow of coal from terri- { tory solth of the Ohio river to the middle centers. i Public all the witnesses Cleveland group is allowed to seven out of the nine places on the board of directors of the Chesapeake {and Ohio. 1 Many Trafic Advantages. | “The great difficulty and shert- coming which the Chesapeake and Ohio systém has, if any, is Its in- ability to rid itself of the traffic originating on its own lines now,” Mr. Bernet declared in explaining the {operating advantages which would |result from consolidating the con- trol of all the railroads concerned. “There is hardly any limit to the amount of coal traffic which the road could develop along its lines if it could get rid of the shipments' to its i ¢onnections® i The w _York, Chicago and St Louis, Mr. Bernet continued. would increase its motive power and other equipment_with the idea of taking over the Chesapeake and Ohio traf- fic. There is no competition at pre: ent betwecn the Cheaspeake and Ohlo and the other roads whick the Van Sweringens control so that the com- petition existing in_ railroad service could not be lessened by tho proposcd transfer of the Chesapeake and Ohio control-he added. C. & O. Head Gives Viewws. Similar views were expressed by {W. J. Harahan, president of the Ches- apeake and Ohio. “We are restricted now. in the de- velopment of our road because our connections cannot take the full amount of business we can give,” Mr. | Harahan declared. “We know that that ourselves, and have continuously a great amount of complaints from shippers along our road who are fuily declared, if the ‘| Argentine 7s ‘| Belglum in} ndi- | is universal- | sapeake and Ohio west and eastern consuming interest will be advanced, | take | D. € MONDAY, JANUARY 22, 1923, [rev oz BONDS o o] Recelved by Private Wire Direct to The Star Office. RAILROADS. Bales UNITED STATES BONDS. o8 \ 000). High. Low. Close, Liberty 33 108 10182 10124 10128 Liberty 1st 35 9678 9860 9878 Liberty 2d 4%s. 916 $324 916 9828 Liberty 3d 41s. 218 9664 - $362 $392 |Liberty 4th 4148 827 9860 9848 $8C0 Viotory 4%s°23 74 10022 10020 30020 US4Ks1962... 68 99 90 9996 FOREIGN GOVEANMENT, STATE AND MUNICIPAL. . (31,000). High. Low. Close. 014 1014 101% 9% + 05 6 54 % Belgium 7%s. Belgium Bern 8s. .. Bolivia 8s. Bordeaux és. . 4| Conditions. however, were not so Lad | Canada b3 1926, Canada 5% s 1929 Canada 6s 1931. Canada 5= 195 e 53 | Chile 831926 {Chile8s 1941 Christiania 8s penhagen 5i4s { Czechoslovakia | Denmark 8 { Denmark 6: | Dutch East Duteh East T 6s'62 ¥rench Govt 8s. | ¥rench Govt 7%, | Haiti 6s ctfs. .. Japunese 1st 48, | Japanese 2a 4%%s. 1 Japanese 4 . Marseil'es 6s Mexico bs Mexico 4=, - Montevideo 7s. . Netherlands 68 i Norway 8s. . Norway 6= ctfs | Prague 71 I Queensland 7s Rio de Jan 85 1848. . 1 Rlo de Jan 8= 19 . ; Rio Girde Do Sul 8s. ! Sao Paulo, Sao Paulo, State, $8. | Setne, Dept of. 7s.... 5° i Serbs Crotes Slov 8s. Soissons 6: Sweden Ge... .. | Swiss Confed « f 8¢ 1 Ud Kingdom 5% { Ud Kingdom & Urnruay 8s 194 i Zurleh Ss. ! Coanea-leaReunEi 0uBauditoielo~Twe irns 143 103% 100 . 2% MISCELLANEOUS. | Ajax Rubber Ss. 19 { Am Agrf Chem 7 108% Am Smelt & R 1st 91 | Am Sugar Ret 8 1024 | Am Tel & Tel ox {AmT& Teltros |AmT&Teltr Anaconda evd 104'2 nz {Anaconda 1st 65w i. { Anton Jergens cv 6s. {Armoir & Co 41 ! Atlantie Refining | Bell Tete P i Bell Tele Pa os w i Bethlehem Steel rf & Beth'em Steel p m 5s. | Beth'em Steel s f 6 i Brier Hill St 15t Bkiyn Edison 78 D Bklvn Edison gen bs, { Busb Tm Bidg 5560, { Centra) Leather s, | Cerro de Pasco 8 { Chile Copper 6s. | Chile Copper 7s. ... ICinG & E15%s°62. .. | Comp-Tab-Rec 6s "41 Con Coal Md 1st bs. jCuba Cane Scvd 8s { Jet Edison ref 6s i Du Pont de Nem 7 { Duquesne Light 71zs. 2 Dugquesne Light 63 st | Empire F & G Fisk Rubber 8s Framerican 1 D 718, Gen Electric deb 6s. . Gen Electric deb 5 ! Goodrich (B F) 6141 Goodyear Tire 8s '31. Goodyear Tire 8841, Holland-Amer & £ Humble Oil & R 5%s. Indiana Steel 5 | Inter Mer Marine 66 Inter Paper Ist 53 A Inter Paper 1st 58 B. Julius Kayser s € 7s. ! Kelly-Springfield 8s. SonenBlf. weael SamBounwonw afoolacETall | Liggett & Myers 7s. Liggett & Myers 5a. Leritlard «P) 68, Manati Sugars f Me: n Petrol 8s. AMich State Tel ist bs. Midvale Steel §: i Montana Powei | Morris & Co 1st 41gs. | New England Tel 6s. N Y Edison 1st 64s. !N YGELHG&P b ToaER~o-on w York Tel 6541 w York Tel 4145, North Am Edison 6s. { North States Pow 5s. Northwst Bell Tel 7s. i Pacific Gas & B) 51 | Pac Tel & Tel 585 { Packard Motor 8s. ... {Phila Coref 6s A. ! Producers & Ref 8s. . | Producers & Rf 8s w. Public Service 68.... I Sinclair Oil 7s. Sin Crude Oll 54 Sinclair Pipe Line 5 | Southern Bell Tel 5s. Sou Por Rico Sug 7s. Stand Oil of Calif 7s. Steel & Tube 7s Tide Water Oll 834 { Union Bag & P és. United Drug cv 8s U S Rubber 18t rf 5 { U 8 Rubber 7%: USSteelsfos j Gtah Power & Lt Va-Car Chemical Va-Car Chem 7148 W. | Warner Sugar 7e. §{ Western Unlon 634 ‘Wickwire Spencer 7s. { Wilson & Co. 1st 68 Wilson & Co cv 7148 ELiaal Bons: Snae ~oacnuosliaZonma } Kansas City Sou be Ann Arbor 4s, Atchison ge! Atchison adj Atlantio C L 1af . Atiantic CL col 4s SW aiv 2%, Toledo div 4s.. BKIRT7'21ctsta.. Canadian North 7s. .. Canadian North 61;a. Canadian Pac deb 4s. 2 Central Pacific 4s. Ches & Ohlocv 5. ... Ches & Ohlo gn 4%s. . Chi & Alton 3s 1949, Chi & Alton 3% ChiB& Q gn 4 Chi B& Q 1st rf 58 Chi & East 1l gn 65 Chi Great West 4s. ChIM & St Prr4ts Chi M & St Pevis. Chi M & 8t P 48 1925. ChiM& St Peviles. ChiM & St P 45 1934. 2 ChIM&StPgndtn. ¢ C M & I'ug Sound 4s. Chi& NWé6 Chi Rys bs. .. ChiR1& Pac rf 4 Chi Un Station 6% Chi Un Station 4 %s. CCCaStLrf6sA.. CCC&StLdb4 Colo & Southiern 43,8 4! Del & Hudson 51s. .. 15 Dern & Rio G con 4s. 1 Den & R G 18t rf Detroit United 41 1 Erle 1at con Erie gen 4s Eric conv 43 A “4 Erie conv 48 D o ¥ GrTrunk s fdeb 6s.. 2 Crand Trunk 7s. .4 Great North gen 7s. .. 11 Great North gen 5 ls. 11 Green B& WdebB.. § Havana ERL& Pos o Hudson & Man ref &is. 2 Hudson & Man aj 5e. il Central ref 4s. B HlCPanlG‘,& . .2 Inter-M 4%s ctfs ata. § Inter Rap Transit 58. ¢4 Tnter R Transit 7s... 23 Int & Gr Nor aJ 6s. 61 Towa Central ref 4a... 1 Kansas City Sou 3s. 3 13 Kinsas City Term 48 4 Lake Shore 481928... 1 Lake Shore 45 1931 13 Long Island ref 4s. 10 Louis & N unified 4 2 2 .3 | Louis & Nash 53 3 { Manhattan Ry cn 48, 1 Market 8t Ry en 5s. Mick: e I ME&Tadyss. | Mo Pacific és. Mo Paclfic ist Mo Facific gn 4s, 0 Montreal Tram Ist 38 13 | New Orleans Term 4s 3 NOTex & Mex tnc és 6 N Y Centraldeb6s... 3 N Y Centraldeb 4s... 3 ¥ Ceutralri s, New Haven cv deb 6s. 2 New Haven deb 4857 1 ew Haven 78. .6 New Huven s francs. 25 Y State Ry ¢%s. . 6 ¥ West & Bos 414s. & Norfolk & West cn 4s. 5 | Nortotic & West cv 68 10 Northern Pacific s Ore Short Len 5s 46, Ore Short Lref 4s. . .. 25 Ore-Wush 1st ref 4s.. § Paris-Lyons-Med 6s. . 43 | Pennsyivania gen 5s. 13 Pennsy) gen 4% Pennsylvania 6138, Pennsyivania gold Pennsyl con 4 5 Pere Marq 1st 5s. Reading gen 4s. . 26 Rio Grande W clt 4s.. 1 RIAJK&L4%s.... StLIM&S4s'29... 19 StL&SFprinsA. 2 |StL & SFprin3s. StL&SF inc 6s. IStL&SF5%sD StL&SFadfés.:... La&SFpringsC. 8 |SLLS Wist4s. .. 3 San A & Ark Pass 4s. 1 Seaboard A Liref ds.. 9 Seaboard A L adj 3e.. 25 Seaboard A Licon 6s. 14 Sou Pacifice 4s..... 11 Sou Paclfic ref 4s.... 9 Sou Pacificclt 4s..... 2 Southern Ry 1st58... 8 Southern Ry gen 4s. . 35 Southern Ry dev 6158 24 Third Averefds..... 1 Third Ave adj 5s. Union Pacific 1t 4s.. 42 Un Pacific 1st ref 4s.. 5 Union Pacificcv 4s.%. 7 Snion Pacific cv 6s.. 12 Virginia Ry 18t 63. ... 35 Va Ry & Pow ist5s.. 3 Wabash 2d 5s. Western Mary Western Pacific 5s... 1 ‘West Shore 1st 4s .2 Vhecl & L E con 4s.. 11 Wheel & LEref 433 1 Wisconsin Ct gen4s. & TOTAL SALES (Par Value): 2456000 12 noon . 667.000 2p.m.... 774200 1lam... © 1p.m. 106% % 8% 82, 5614 “ 5% 464 1081 1134 1094 100 1 % 101% 8 70 21y 43 37 67% 8614 BI% 1 %t 9% 9% 104% 61 3 €0’ L] ) 9% 103% 90 9% 8% 204 w 63 o1 m s1Y 0% 6 1004 59 w1y . bl u% ans 6 597 915 874 21 % e 101% 8% Tl 2 8% 5% 104 6% 84t 84 8214 € 64 61 k) 64 [ k) 100% o1 11 103% 1% 80% 681y 9% i 109% 110% o7 % % s 5% 59% 1% 7 2% % T 101 8% o7 1% 5% 5% 108% 4625 [ 514500) WALL STREET NOTES. New Steel Prices—Advance on Gasoline Posted. FINANCI Grain, Produce and Live Stock L0CAL WHOLESALE MARKET. i Slow receipts and slight demands made the market rather slow | mprning. Monday usually is a dull day with market dealers, and todiYI Was no exception to the rule. The butter market remains firm, While eggs are considerably chgaper than they were during the recent| holiday season. Prices on most| products were about what they were ' at the close of the market last week. ! Eggs—8trictly fresh, selected candled per dozen, 4 southern, 35. Coid storage eggs, 2 Live poultry—Roosters, per 1b. turkeys, per Ib. €ns, per Ib., 26a2 6 | average receipts, 36a38; | e 16: ] 30; spring chick- ; keats, young, each, | fowls, each, 23, Dressed’ poultry—Fresi chickens, per 1b,, 80a33 ;2‘;2"; rogsters, "per Ib. Per 0w 3a46;’ keats, Live stock—Calve 147 medium, per Ib., 13a13%; thin, per choice, per Ib. 13; 0 each; live hogs, Green fruits—Apples, per bbl., 1. 47.00; Dellcious, Nov = p‘;r bbl., 6.00a 7.80. = California oranges, per crate 00; Florida. 4.0025.00. per box, 3.50a4.50. Grapefruit, 3.008 4.00. Tangerines, 3.5Qa4.50. Vegetables—Potatoes, per bbl. No. 0 ack, 2.00a2.25; No. . potatoes, North . 7581.60; nearby, 2.00a2.50. per crate, soathern, 2.00a Romaine lettuce, per crate, 50a leeberg lettuce, per crate, -50. - Cabbage, northern, 1.75a2.00 per 100 . 1bs.; uearby cabbage, per bbl. 1.2682.25; southern, 2.25a2.50 per basket. Eggplants, per crate, 2.50a5.00. Toma- ! per box. Florida, 2.60u5.00. Beans, {2.0024.00 per bagket. Peas, 3%00a5.00 per busket. “Peppers, per crate, Florida 5Mad.50. Kale, per barrel, 1.30al. Spinach, per barrel, 2. Celery, per dozen, 1.00al. California, per crate, 8.00a8.50. California grapes. per grate, 3.00a4.00." Brussel sprouts, 220, -killed _spring hens, per Ib. 18; turkeys, young, each, choice, per 1b. GRAIN AND PROVISIONS, BALTIMORE. January 2: Potatoes, whire, 100 1bs. 150 b 0a2.15; sweets, bbl bushel. * 25a60; yams, bbl. bushel, 40a50; beans. bushel beets, bushel. 75a 30a40; -brussels, qt., ton, 2 00; 5a1.00; caulifiower, crat carrots, bushel, 50a60: celery, i s, crate, 3.50 ;. eggplants, crate. 4.00a6.09; horseradish, bushel, 2.00a4.00; kale, bushel, 30a40; - lettuce, crate. 2.00a 4.50; 100 b oysterplants, . 5.00a8.00; parsnips, bushel, 1.25a 1.40; peas. bushel, 3.00a4.00; peppe crate, 1.50a2.50; spinach, bushel, squash, basket. 2.50a3.50; toma- crate, 3.50a6.50; turnips,’ bushel, acked, bbl.. .350; loose, 40a60 10.00212.00; grapefrui orange: sirawberrles. gt one-half strap, 2.00a: Selling Prices at Noom. Wheat—No. 1 red winter. spot. no anotatio 3 red winter. spot. 133 nomi 3 red winter. spot, N0 quotations: No. 2 red winter gar- licky, 1.32 nominal; No. 3 red win- . no quotations; January ; 4.00: | broccoll, bushel, savoy e 1.50 ales— ne. Corn—Cob corn, new, per_barrel: contract. 5po bushel; No. 2 corn, spot. no quotations: track _corn. 3. new per buahel. ales—None, { Oats—White, 51 and 543 per bushel asked: No. 3. 531 Rye—Nearky, $5a85 per bushel; No. 2 western export, spot, 983, per bu- shel 0. 3, no quotatic 1 Hav—Receipts, 39 tons; for the bet- | tac dascrintions of timothy and lght | | there w {ited receipts ar a range of 1 1 tangled e : No. 1 wheat. 11.00a1% nominal, 12.00213.00. AGO, January Open. Higi LIS 11 Wi 3 124 | i X May July Sepremie: CORN— | May 5 : = 3 i Julr 5 September OATS May . Goh : 431 | 1061, i DAIRY PRODUCTS. H BALTIMORE. Md.. Junuary cial).—Live pouitry— i 40; old toms, 30; poor {breasts. 25: young chickens {poor and leghorns. 19a23: oid hens, {21a24; small and leghorns. 18a26: old oosters, 14al5; ducks. 20a2 21a23; plgeon pair, 30a35; {fowl, ‘each, 35a70. i Dressed poultry—Turkeys, pound. i guinea 32a35; old toms, 30: poorly dressed and thin,. 25; young chickens, 24a25; old and mixed, 23a24; ducks, 25a30; geese. 1a25; capons, 35a40; small lips, 30a32. Eggs—Loss-off, native and nearby firsts, dozen, 38: southern. 36. Butter—Creamery, fancy, pound, 54: prints : nearby creamery, 47231 | ladles, 35836 rolls, 33a35: store pack- jed, 32a33: dairy prints, 34a35; process | { butter, 42a43. N 1 CHICAG? IAVE S§TOCK MARKET. | CHICAGO. January (United States | Department _ of Agriculture).—Hoz Receipts, 55.000 head: market slow. steady to strong; bulk. 150 to 190 pounu averages: 8.70a8.80; top. 8.85; i bulk, 200 to 225 pound averages, 8.43a8. bulk, 249 to 300 pound butchers. 8.25a8.35; big packers bid- {ding lower; bulk weighty packing sows. 7.00a7 desirable 100 to 110 pound Dpigs, 5; welghty pigs up_to 8.60a8.70: heavy-weight hogs, medium, ~ 8.30a8.65 light _lights, 8.5 : pa ws, &mooth, a7.60; packing rough, 7.00a7.30; killing pigs, $.00a8.70. Cattie—Recelpts, 22,000 head; killing classes slow about steady: better grades beel steers to jbuyer. ifar as iy AL. PRICES OF WOOLENS BIG TRADE FACTOR Opening of Fall Sales by American Woolen Company © Will Show Trend. BY J. C. ROYLE. Specal Dispatch to The Star, NEW YORK, January —The op: ing of the Leavyweight lines of woolen tabrics for the fall of 1923 by the Am ican Woolern™ Company today was :h lead for which wool growers, textile manufacturers, garment maker: and retailers have been waiting. Ih advances in price, ranging about 2t jir cent highe: were not unexpe:tzd and to a large extent have been dizcounted by garous likes, but the form nouncement of the leading interest will enable manufacturers and merchants to determine more definitely their plans for the future. Within a few days. the response to the' offerings made todir will indicate to what extent merchaiits believe ulti mate consumers can be persuaded to accept increases in the prices of fin- ished articles. The price lists of tr other woolen cloth manur: pected to follow clo shown by the American Woolen Cor pang, and those makers who have not yet provided for their raw ool require- ments will seurry to m Foreign Wools Active Factor, It is estimated that only enough raw wool for two months’ require | ments is now available in this cour t No other democratic woots will me on the market until the end of February at least, when some of the rizona” clips will be marketed weather permits early shearing. For- eign wools, therefore, will be more and more 4 factor until summer, and the foreign markets are universall: strong today. Reports received by wire toda from New England mill centers a from leading merchants, wholesalers and garment manufacturers through- out the country supported indication that the whole trend of trade i woolens would be toward stabilizec prices at slightly higher levels, cutting of overhead and extensive ud vertising campaigns, with dependenc: placed on volume rather than pric j for net returns. on d Rail Outlooks. The decreased production of the Mexican oil fields is being reflected in the demand for the hghter crude oils of California on ,the Atlantic seaboard. Shipments bY of the Panama canal ‘now aggfegate about 50.000 barrels of (¢ « day and are alife the orient principally navy and the m “ondition of railrc improv apidly bad order freight than at any time sinc and railroad carloadings are a ent at record volume for this se addition, the improvement evidence of being perma- for carriers have not ceas lackened their orders for new equip ment and supplie: grams announced it_probable that at least will be spent by the railroads of the country this vear. ake Trafic to Boom. of the also are the principal for the imperial ant marine i eq The number Memb Lak sociation i record-breaking season. pines of the north aie increase a be jude ures the volum zives no indication compared with 1922, when 508.411.11 bushels were moved on the lak Representatives of the canning in- dustry assembled today at Atiant City in annual convention forec an_ exceedingly prosperous year general and this attituds Dby the inquiries already passed on to manufaeturers of food containers. Lumber production is gaining stead- in spite of the fact that this season of the year usually marks a slump in both orders and productign The California redwood manufact ers have the largest orders on thei books of any time in five vears. Advance orders for spring delivers I oming in rapidly ern stk mills nd iron ing unde of wheat tonnug of diminishing as st of Heavy Snow Still Hurts Business in New England Special Dispateh to The Star. BOSTON, January New England still icaj transportation difficulties incident to heavy snowfall, but the situation is better than it was a week ago. There is 1o let-up in the demand for manu- factured goods, and most producers are finding their orders running in excess of their ability to make de- liveries. i The persistent ngth of the cot- ton market is having its inevitable results in higher prices for cotton manufactured goods. The great mi- jority of New Lngland cotton mills today are running at capacity and have orders on hand to require full operation for over two months. Somc mills are sold up as far ahead as July 1. The advancing tendency of wool makes it sure woolen cloths will be priced higher. Grain Crop in Southwest Helped by Heavy Rains Special Dispatch to The Star. FORT WORTH, Tex., Janua Graln will be revived. pastu freshened, stock tanks replenished and farm lands prepared for plowing by a rain which has just fallen over Texas. In some localities it was the first moisture which has fallen four months. Merchants are ex to abandon their hold-back polic: buying as a result of the rain susiness in handicapped. by in ted in Mid- is supported. ., steady an- sale: tittl 2nd winter sales, which had been nounced but which had met response -because of drought jwarm weather, will be resumed $1,000,000 Realty Loan Made Under 5 Per Cent Special Dispateh to The Star. SAN FRANCISCO, January though the general volume ol iness for the last two 'weeks has shown a slight falling off compared with a year ago, more optimistic business conditions are today indicat- ed here by the decreased interest rates on business and reaity loans. {There is plenty of ready money it evidence,several big building projects have just been announced and sales in almost all lines are brisk at I slightly increased prices. The prevailing rates on realty loans now are between 5 and 5': per cent a reduction of nearly 2 per cent loan of $1,000,000 was made in the last week at slightly under 5 per cent. (Copyright, 1923) CHILDS MAKES $1,534,448. NEW YORK, January 22.—The re- port of Childs Company (restaurants) for year ended November 30, 1923 shows profit of $1,534.448, after de- preciation and taxes, equivalent, after preferred dividends, to $30.29 a share carned on the $4,000,000 stock. This compares with $1,540. or $30.84, in-the previous year. APARTMENTS IN DEMAND. ST. LOUIS, January 22 (Speclal).— Reaity dealers continued. today to report an exceptional demand for two and four family apartments. ~This ig an investment phase as well as a reflection of the housing shortage. ‘Demand for vacant property for com. mercial and apartment buildings 1 X even livelier than last autumn. 4% 3% 8% |aware of the difficulties. Only last 85 B4 8h]Saturday Tmet with operators of 630 coal mines to divcuss possibliities of e Ml Tt oving some of-the obstacles, “We believe that the situation could HOURLY SALES OF STOCKS. be very, much improved by the co- QNain 189600 12M... 229% poveration of connectiyg lines now in v - | prospect. BECees AL 00 2pm... @wew - |DRESCL, o opects of the proposed transfer of control of the Chesapeake and Ohio were discussed very briofly by Mr. Van Sweringen, who said Le considered the new owners would be sure adequate financing. 314,100 barrels, compared with 176,900 barrels. Barley esports last week were 2,033.000 bushels, compared with 153,- 9000 bushels the previous week. Ex- ports of oats were 433,000 bushels, compared with 158,000, and exports of ryi. 1,076,000 bushels, compared with Int Mer Marine. int Mer Marine pf. 4% Int Nickel.. W Intl Nickel pf..... 74 Intl Paper..... Intl Paper (sta)... 71 Invincible Oll..... 1sland Oll Jewel Te 18% ‘Jones & L'ghliz pf 107% Kansas & Gulf Co. 2% Kaneas City Sou.. 19% Kayser (Julius).. % | Kelly-Spriug Tire. 4% Kihgdom, 463.000. 5 3 elly-Spring 8% pf. 106 Less Corm to Germany. |Kemy petog s > Germany took 263,000 bushels of corn {3 st week, compared with 408,000,000, the | & onRecorts - =i week preceding, while the Nether- x;" o (S8). . Jands took 326,000 bushels and the Kresge (% o- United Kingdom, 496,000 bushels. ‘Lehigh. Valley. 69 fork, the Hudson valley, Virginia Of flour exports the United King- |Liggett & Myr (B) 215 218 |and Pennsylvania were in liberal sup- e e L b i T e §%Ipiy: Reeeipts of northwestern boxed e arley expol United Kingdom took 400,000 bushels u% 11 | 2pples were likewlge liberal- The the week ending January 20, 119 119 +|demand for fancy, large, well colored Zipared with 114,000 bushels for the' Loose- Wil 59 |&tock, both red and green varieties, Vaek preceding: other European - |was moderate. The market Tor best cogntries took 14,000 bushels com- 5 |stock continues steady, but poor to pagted with 38,000 bushels; other than 10 | ordinary rather dull. European countries took 619,000 6% T s buahcls compared with 1,000. Ex- | NORFOLK GAS EARNINGS. ¢ % 3,2§4,000 bushels. & | NORFOLK, January 22.—The City Gas I Shiments of jOkis: Company of Norfolk reports grass earn- ings of $911,91 for the twelvé months opean countries. took for the ended December 31, 1922, an increase wapk 422,000 bushels of oats, com- of $3.262 over the same period of with 137,000 bushels the week 6% 67921 Net after taxes was §302,885 afore; Cuba took 8,000 bushels, com- S4% 8% |an increase of $29,376. P pated with 29.000 bushels; other coun- 0% 60% o bty A tjts took 3000 bushels - covpared o5 an bles, 0635% . Ttaly_—Demand, 0470} W .000; exports of oats since Jan- RA AR 'HER. - uy I now total 602,000 bushels. - ¥, BUCAR HTG 3 Durlng the week ending January s NEW YORK, Jatuary 22.—The raw 20 Germany received 302,000 busheis 18% | gugar market was firmer early today of'rve, compared with 40,000 the week 16% [ and spot prices were 1-16 cent higher ding: other European countries 16% [ to the basis of 35-16 for Cubas, cost % 772,000 bushels, compared with 274 | and freight, equal to 5.09 for centrif- 75.000; other than European coun- 11% | ugal. There were sales of 5,000 bags ies took 2,000 bushels, compared 27% | of Cubas for prompt shipment to an R 100,000 bushels. Exports of rye 7 |operator, &nd 35,000 bags of Cubas inze January 1 now total 1,862,000 1 |for February shipment at 3.9 f.o.t. oushels, s 9% | Worthington. 39% | wright Aero. 108% Mk | Winchester Ams 74s 3 —_— TOBACCO SALES HEAVY, Lynchburg Reports Active Demand During Week. Special Dispatch to The Sta LYNCHBURG, Va. January |The open tobacco market here ex- |perlenced somewhat of a surprise e e = when the receipts mounted to 583,600 FOREIGN EXCHANGE. |pounds. under weather conditions !Whloh seemed to indicate very light 1 iy o B e s strong ‘on few early early NEW YORK. January 32.—Chicago |iop matured * steers, 11.0 buli district stecl warehouses today put|[beef steers of quality and con- into effect new price lists advancing d“{‘;? :lo oel: at Sl.h’.a.g i h.mcxgm and feeders strong to 2 gher; bulk struetutrals out ’ef stock, soft steel | goci ove feeders, 1.25a7.75; bulk de- bars and plates §3 a ton. sirable bologna bulls, 4.50a4.8 Ex-dividend today: Hamilton | canners around 2.85a3.00: bulk de- Brown: Shoe and International Com- |Sirabfe light vealers to packers, bustion Engine. 10.50211.00; upward to 12.00 and above Standard Oil of Louisiana has post- to shippers. Sheep—Rcceipts, 16,000 head; opening ed its first general advance In sev- eral months by advancing gasoline active fat la and vearlings, 15a25 higher; early top, 15. to shippers 2 cents, to 19 cents a gallon in retail price. fed and .clipped lambs, 12.60al12.75 Refiners in the Oll City, Pa., sec- ‘choice, 90-pound fed vearling weth- ers, 13.50: three doubles, cholce, 105- pound ewes, 8.00. tion are paying a 20 cent per bar- rel premium above posted price for Pernsylvania crude oil. Regular quarterly dividends toda: Salt Creek Oll. Alaska Packers A sociation. . ew York bank balances, $65,000 000; New York bank clearances, §431 000,000; New York Federal Reserve Bank credits, $64,000,000; Boston bank clearances, $50,000,000, VISIBLE GRAIN SUPPLY. *NEW YORK, January 22.—The vis- ible supply of American grain shows the following changes: ¢ . Wheat increased 2,536.000 bushels. Corn._increased 1,378,000 bushels. Oats decreased 22,000 bushel ber, 26.70. LRye Increased 95,000 bushels. arley” increas .000 bushels. y | m—— NEW YORK EGG PRICES. NEW - YORK, January 22.—Eggs _ FISHER BODY’S PLANS. steady: receipts, 12,732 cases. Fresh \ NEW YORK, January 22—Fisher red. extra firsts, 42a43; do., firsts Body Corporation is negotiating new |39as1; New Jersey hennery whites, financing in order to secure addition-{locally candled extras, 36; do. un- al working capital. Definite arrange- |candled €xtras, 54ab7; state, nearby ments have not been completed, butland.nearby western hennery whites, it 1s belleved that a new issue of [firsts to extras, 47a53; state and near. common stock will be authorized and that stockholders will be given the right to’subscribe ‘to the new securi- ties. e v N . 18% 09% 2% 20% @n 8% 106 06 | N =% 8% 3 160% | —Barreled apples from western New | 14.000. £ wheat exported last week Italy and the United APPLE RECEIPTS HEAVY. Many Virginia Shipments Are able to a Reaching New York.' NE . { (Quotations furnished by W. B. Hibbs & Co.), EW YORK, January 22 (Special). | ikt et ekl 20id value. today,11:45. - 100 193 195 193 488 193 1193 2026 t: 62,000 bushels, breaks, but it is believed now that it will requife’ rain before the ‘market ean again be fairly heavy. The sales !last week were at high prices, the javerage of $22.10, when the quality of the offerings Is considered, being che highest of the season. The mar- | { et was again very active, all grades veing eagerly sought after. The sales from the 1922 crop so far aggregate 599,400 pounds, an in- crease of 112,700 pounds over sales up to_the same time a year ago. Quotations, based on_sales, are follows: Lugs, $5 to $22; short leaf, $18 to $38; long leaf, $25 to $46, and {long leaf wrappers, $46 to $36. —_— BAR SILVER PRICES. i NEW YORK, Jenuary 22.—Foreign bar silver, $6; Mexican dollars, 503%. LONDON, January 22.—Bar silver, 32 3-16 pence per ounce. Money, 13 per cent. Discount rates—Short bills, 2 per cent; th;ee-_monm bills, 233 per cent. DISCOUNT RATE RAISED. By the Associated Press. London. Montreal, Parin. und. Pdotiar TODAY’S COTTON PRICES. NEW YORK. Janaury 22.—Cotton futures opened weak, January 27.92 March, 28.05: May, 28,20; July, 27.90; October, 26.30. A1:45 a.m. bids: January March, 27.97; May, 28,19; July October, 26.17. Steady. EW ORLEANS, January 22.—Cot- ton- opened steady. January 27.7 March, 27.60; May, 27.62; July, 27.50 October, 25.85. Noon ' bids 27.60; Ma: Copenhagen, c ul Chbistingia, crown. Stockbolm, crown. By the Associated Press. NEW YORK, January 22—Foreign exchangesleasy. Quotations (in cents Great Britain—Demand, - 1.65%; | ca- bles, 4.65% ; sixty-day bills on banks, ; . France—Demand, .06341%; c January, 2 27.65; July. Steady. 54; March, Alanhattan Shirt. 27.63; Octo- Market St Ry. l Market St.prior. Alarland O, . |athison Alkili Maxwell (A). Maxwell (H). May Dept Stores. Mclntyre Porcu. Mexican Seaboazd. 16% x ctfs.. W% Miami Copper... uk % % .g::fiai? z sgrerey F§gges K 15; cable: land—Demand, .3950; cables, .3953. Norway—Demand, .1868. Sweden—De- mand, .2687. Denmark—Demand, Switzerland—Demand, .1863. Spain—Demand, = .1563. Greece—De- _ mand, .0122. Poland—Demand, .000035.| BRUSSELS, January 22.—The Na- Czechoslovakia—Demand. .0277. Ar-|tional Bank of ‘B/el(hlm today in- ntine—Demand., .3750. Brazil— | creased its discount rate by 1 per and, .1150. Montreal, 99 1-3: cent, . 8 Middle States Oil.. Midvale Steel, . Minn £ 8t L (). Mo Kan & Texas. ] 2% 1% % 7 5 LER