Evening Star Newspaper, January 27, 1923, Page 18

FINANCIAL.' SPECIALISSUES LEAD MARKET Remarkable B. and 0. Report . Helps Rail Stocks—For- { eign Exchange Lower. Adv Rumle: Ajax Rubber. . Alr Reduction. Alljed Chemical. |Allls Chaimers. ... Allis Chalmers pf, Am Agr Chemical, - Am Agr Chem pf.. Am Bank Note. Am Beet Sugar. AmCan..... Am Car & Fay. u% 8% [ "% o% 7% 0% 5% % % 82% Tk A Car & Fdy pf.. 125% Am Cotton OIl Am Cotton Oil pf.. Am Ict Am Internation: Am Linseed. Am Linseed pf. Am Locomative Am Metal Am Radia At Safety Razor. Am Smelting. .. Am Stee]l Fdy. Am Sugar. Am Sumatra . Am Tel-& Teleg. .. Am W Wks 6% Df. Am Woolen. ...... Am Woolen pf.... Anaconda..i....i. Asso Dry Goods Atchison.. Austin Nichols. Baldwin Loco. Balto & Ohlo. Balto & Ohlo pf... Barnesdall (A). ‘Barnesdall (B) . Beechnut Packing Beth Steel. . Beth Steel (B).... Beth St17% (n)... Bklyn Edlson. Bklyn Rapid Tran. Bklyn Rap Tr ctfs Bklyn Union Gas. . Brown Sho Burns Bros (A Burns Bros (B; Butte Cop Butterick. Caddo Ol . California Pcking. California Petrol. California Pete pf. Callahan Zinc. ... Canadian Pacific.. Cerro de Pasco. Chandler Motor. .. Chesap'ke & Ohlo. Ches & Ohla pf w1 Chi & East 1l pf.. Chi Great Westrn. v |Chl Great W pt. Chi Mil & St P Chi Mil & St P Chi & Northwn. Chi Pheumat Tool. ChiR1I& Pacific. . Chi R1& P 6% pt.. Chile Copper Chino Copper. Cluett Peabody. .. Coca-Cola. . Columbla Ga: Columb‘a Graph. Com Solvents A Consol Gas new Cons Textile Cont Can Cont Can w Cont CAR Pf. ..., Cont Insurance. .. Continental Motors Corn Products Conden & Co. Crucible Steel Cuban-Am Sug: Cupa Cane Sugar.. Cuba Cane S pt. Davidson Chem. .. Del Lack & Wstn. B¢ STUART P. WEST. Bpecial Dispatch to The Star. i NEW YORK, January 27.—The stck market in the short period of trading today was substantially the, same sort of market that has been seen all week. A few special issues were not- ably active and strong, the principal individual moves being upward. But in the main body of stocKs there was very little change and trading was dull. : Fine B. and O. Record. One of the most extraordinary in- cidents of the news of the day was the Baltimore and Ohio report of De- cember. This road has reputation for more rapid shifts than almost any other carrier in the country, but noth- ing in its experience has ever equaled the change between the heavy deficit_ of last September and ~the December showing of a $6,238.000 net operating income, and increase of $3.- 485,000 over theé month last year. The comparison between the Decem- ber returns and those of three months previous was effective testimony to the rapidity with which Baltimore and Ohio has recovered from the effect of the coal and shopmen strikes. Railway shares showed little en- thusiasm over the December traffic figures, but they held their ground. Some of the speculative leaders like Steel common and Baldwin Locomo- tive came down bit in the last half hour, Bethlehem Steel B was heavy gain, reflecting uncertainty regard- the dividend outlook, and there vas special weakness in Royal Dutch on what appeared to be European selling. Spicer Leads Market. Among the strong speclalties were cortain of the motor accessories, like Spicer Manufacturing and Parish and Ringham, which have long been be- hind the rest of the market for this 3 of stocks. Hoffman machinery a sharp runup and so did Brook- Iyn Edison Spicer Manufacturing stock proved to be the “Saturday special” tuking the leadership in the market. The strength and vity affected other motor accessories and a num- her went higher. Spicer business in Junuary is reported to be the best of any Junuary in its histor Apart from the security marketsall tha happenings In the financial situa- tion today continued to point to in- creasing doubt as to the success of the French experiment in the Ruhr. German ks struck a new low, but this not_surprising. The more significant thing was the con- tinued pressure against French ex- change and agalnst French govern- ment bonds. French Bonds Again Weak. The French 7l.s, which as late-as the first week in January had sold as high as 95, struck 88, another new 1oW. record. The French §s. quoted below 2, were off 7 points hin the three seks' period and French francs which had closed last night at 6.33 per franc, dropped well below the 6,30 | level. This was the response to the latest violent measures adopted by the French military authorities and the growing unrest of the German people, especially in Bavaria. (Coprright, 1923) Famous Players pt WILD RUSH T0 BUY, Fisk Rubber. Gen Asphalt Gen Cigar. Gen Electric Gen Motors. Gimbel Bros pf. Glidden Goldwin Gray & Davi Great Northern pf. ‘Dupont deb. Eastman Kodak.. Electric Stor Bat. Endicott-Johnson. Erle Erie 18t pf Famous Players. . Yesterday's Break Followed by Good Recovery in Today's Trading. Bpecial Dispateh to The Star. NEW YORK, January 2 Greene-Canane: Eree of excitement which attended |Gulf States Steel.. closing trading Friday insured a wild (Hartmas Corp opening’in cotton today. Heavy over- | jugson Matol night selling orders were executed on [Hupp Motors. the call, carrying May to 27%, a cent Hydraulic Steel and a quarter from high levels of the |1 o1s Central week. Inspiration. A rush to secure cotton after such a Interboro Metro break followed the opening, fullylint Cement. .000 bales of May and July being ! [nt Harves! taken from the ring in a few minutes. | 1n¢ Hagvester p! This started a thirty-point sharp re-7| [t Mer Marine.... A""n;'r May running up above 28 once | jn¢ Mer Marine pf. ore. 1. Trading was heavy, many h Int Nicke taking uwdvantage of the aptarm rg|Intl e on reduce their lines over Sunday, At Invincible the same time mills bought more cot. |Lron Products ton than since Monday's break to cor. | 1sland Oil.. responding_figures. h the whole | Jewel Tea. problem of distribution of the re- |Jones Tea mainder of this crop still .unsolved, | Jones & L'gh! there ‘was no disposition to belleve | Kansas City Sou.. that prices would continue an un- Lxansas & Gulf Co. interrupted decline. The shock to | gayser (Julius).. the market, however, has been one | gty -Spring Tire. not experlenced since the check to the ott. beupward movement early in November, | £a02eCo} : Kresge.(5 8) STARTED FOR INDIA d (P). Loose-Wiles. . Manhattan Shirt. for Wedding Ornaments. Market St prior, Silver Also Sent. Mack Truck. . 'Mack Truck 2d. “|Marlandoil. ... Mathison Alkill Maxwell (A). May Dept Stor Molntyre Porcu Mexican Seaboa Mexican Sbd cts Miam} Copper Middle States OIl. Midvale Steel. Mo Kan & Texas. . Mo Kan & Tex pf By the Associated Press. © < - NEW YORK, Japuary 27—Seventy- one kegs of gold coln &nd 910.bars.of silver, the whole valued-at $3,248,000, were taken out for India today by the Liverpool-bound steamer Celtic. Several reasons for the gold ship- |Me Pacific. . ment have been advanced, ameng |Mo Pacific pf. them that gold was néeded in IndiajMont¥na Power. to make wedding ornaments for the |Montgomery Ward coming marriage season, and that it |3oon Metors. ... was needed ‘to offset the purchase of|Mother LodeCltn. British sterling-to pay Indlan debts . to Great Britain.:' The silver move- ment was sald to have been inspired | Nap Biscuit w1 by a belief that an fmport tax on |Nat] Enameling. silver soon 13 to be levied in India. |NSt'R of Mx 18t .. . < (Natl Ry of M'2d RAIL MEN MEET. Nat) Acrie. . N Y Alr Brake (. N Y Central . r NYNH & Hartfd 16 2 . 101 26% 81% 30% 127% Detroit Edison. . . . 108%: B 9% 85 9% e 16% % 9% 18% [ 1554 "% 5 13 - W% » ., 10% 6 64 137 3% Gt West Sugar pf.. 1064, 8 E3 iin pt 107% 21% 211" ‘Pos% 20% NEW YORK, January 27.—Herbért {N Y O & Western.. 204 Hoover, Secretary ‘of. Commeree, -at- | Norfolk & Western 112% tended a meeting yesterday of the North American pf railroad committee -of " the United {Northern Pacific.. States Chamber of Commerce. in/Ohio Body-& Blw what he termed an unofficial capac- Oklahowa Prod. ity. " The question of transportation, |Otis Steel. as it affects railroads and other ship- |Owens Eottle. . ping interests, was discussed. The |Pacifc Develop... appearance of Secretary Hoover, with'| Pacific Gas & El... that of big railroad officials not mem- | pacific Ofl. . . bers of the rallroad committes, gave | packard Motor. rise to reports in Wall street that|p.._Amer Pete the meeting probably wauld result)p,, am Pete (B! in an effort to restore railfoads to ) thelr pre-war status. Torien & 5“;-'”"" Raflroad chiefs at the meeting in- |Pennsylvan cluded-. W. B. Storey, president of the Atchison, Topeka and-Santa Fe; A. H. Smith, president of the New |Peré M York Central; Hale Holden; presi- |Philadel, dent of the Chicago, Burlington-end |Phillips Pe Quincy; Hov_?rd Elliott, chairman of | Pierce-Arrow the ‘board of - the Norihern Pacific, | plerce-Arrow bf. and Daniel rd, president of the |piarce Oil. . Balumove and Ot P Fpron ess North American. .. 106% & % % 2% % - 1% T et LB NEW YORK STOCK EXCHANGE Reéeived by Private Wire Direct to The Star Office = - Open. . High. Low. Close. % UK 1% 8% 18% 5% B u% % 46% 6% % 9% 0% 0% 5% BO% % % 5% % *“% 0% 9% % . B2% 178% 125% 2 100 %% 110% 110% “h T 6% € 100% 100% =% ek 189% 152% 6% 45 8% 118% 1% 0 10 115 €2 us% a 10% 184 V% 1% 104 s 1% & 6% 169% 143% % 4L 10% 108 1% 18% ™% % sl 814 % W% 9% 96K 10% 9% 1% 1% @Y% a% oY (5% 2% T4 102% 102% (] % B4 n% 1% 3% | 124 6% £5% T B nu o € 6% 104 12%. a4 8% 2% 102% 2 6% 8 £1% n% o2% 0 4% 0% U " 244 4% 108% 2% @1 84 1% 128 74 1078 [ @ €t 1% 126% @ % 107 106% 1001 98 1n - 10% 158% 127 6% [ 6% 1B% 7% FIPa A 0% 80 129~ 1T 10814 1083 6 B %% 8 s & EO s 1%, 1% 6% [T SE% 96% 18 118% I W % £ - 183, 10, Y 2% 161 10% 64 6 6% 3% Who s 3% T8 106% 106% o u Y% E2% £ bl 19 19" 2% 9% i3l 23 W s M% 1% W % %% 57 80 20 us 1 % % 9% 38 Wh % 1% Bl 6% 15 9% 8% 1 5 16 ) % 18% 50 107% W09% 107% A% 2% A% W 2 ¢ 2 % 0% e% 9% 49 4% 6% 736 3 MW 8% % 21 0% 61% 19% M- 0% 62 6% 19% - 19% 17 167 6. 8% £ *% 8% %% - 58%, 4% 2% -7 % 16% 16 % n% 2% 1% 0% =] GENERAL BOND LT 13% | P! Pitts & W. Pond Creek Coal Postum Cereal. ¢ 97% | Pressed Steel Car. Pressed St1 Car pf. Producery & Ref. Public ServotNJ. PublicService pt. . Pullman Co....eee Punta Alegro. .. Ray Con Copper... Rep Iron & Steel. . Rep Iron & Stl pf.. ynolds Tob (B). g:’nl Dutch. . StL & San Fran... StL & San Frp St Louls Southwn. St Louis Sown pf.. Savage Arms. Seaboard-Afr Line. Seaboard A L pf... Sears Boebuck. Shell Union........ Simms Petroteum. . Sinclair Of1. Skelly Oil.. Southern Rallway Spicer Mfg Co. Standard Milling.. 8% Stand Oil of Calif. Stand Oll of N J wi Stand Oil of N J pt Steel & Tube pf... Sterling Prod Stewart-Warne: 40% 116% 104% 2% £ % Studebaker. . s 9% 3% 2% % ' 617 2 Superior Steel. ... Sweets Co of Am. ' Tenn Copper. Texas Company... Texas Gulf Sulphur Texas & Pacific. .. Texas & P C & Oll. Timken Bearing Tobacco Prod. Tobacco Prod A. Tol St L & W.pt. Trans Contl Oil. Union Pacific United Drug.,.... Union Taak Cr pt. United Fruit. . Utd Paper Board. . United Ry Inv pf.. United Retail Strs U S Hoftman Mch. U S Indus Alcohol. U S Realty.. U S Realty pf..... U S Rubber....... U S Rubber 18t pt. U S Smelt & Ref.. USSmeit & Rpf.. U S Steel. U S Steel p! Utah Copper Utah Securities Vanadium Corp. Va-Car Chemical. Va-Car Chem'l pt. Vivadou. Wabash pf (A). Western Elec pf. . ‘Western Md 2d. Western Union. Westhse Eles & M Wheeling & LE.. Wheeling & LE pf White Eagle Oil White Motor White Oil Wickwire. ... ‘Wilson Company. 200 7% 2% 8% % 1n 136% 80 uz 160% 16 Iy 105 21% € 1 6% 2% €25 1% 27% 1% 23% n3 60 9 16% 5% 5% 3 Y £ % T R R R T . 20815 208 2081 Youngstown Tube. 9% 1 W% HOURLY SALES OF STOCKS. 1lam..... 182 90 12M.... 30970 WEEK SEES RAIL 2% 2% 1™ 2% % 25% 3% 61 9 16% 6 “B2% 3 1% 8 23% m 60% 9 16% 2% 62% By the Associated Press. NEW YORK, January 2 prices, particularly railroad issues, moved to higher ground in this week's market, but bond prices con-, tinued reactionary under the depress- ing influence ot renewed weakness in the French and Belglan liens and the competition of a large volume of new offerings. Movements in the stock market indicated that domestic con- ditions are the dominant factor in the determination of quoted values, but the European situation is causing a curtailment of business and an ab- sence of publioc participation, making it essentially a “traders’ market.” The sudden burst of activity in railroad shares was inspired by the excellent showing made by the roads in their December earnings state- ments, the first of which have just been published; and the continuance of a record volume-of car loadings, which ‘totaled 873,251 cars for the week ending January 13. This total exceeded that of every other high Week in either January or February, and was only exceeded once by a week in March, that of March 25, 1920. —Stock Southern Rallway Active. Southern Railway was one of the most active lssues touching 30%, as against the veaj's low of 24%; buying being based on reports of large cur- rent earnings. Other low-priced speculative ralls also made substan- tial gains, while most of the high- priced investment issues moved with- in more narrow limits: - During the week the average of twenty active railroad shares reached the highest price since the middle of last No- vember. One of the most spectacular move- ments of the week was in Fisher Body stock, which broke from 203 to 162 on announcement of a pro- spective $20.000,000 6 per cent deben- ture bond offering and an issue of 100,000 additional shares of common stock at $76 a share. The stock callied to 172 the same day and ad- vanced later in the week to .186 on| anouncement of the offer of W. C. Durant, automobile manufacturer, who has been selling the old stock on a partial payment plan, to pur- chase the entire outstanding stock at $200 a share. ~ _Another interesting movement took’ place during the week in the new stock of the Consolidated Gas Com- pany, which advanced from 62% to 68% on Thursday on announcement that the stock had been placed on a $5 annual dividénd basis. _Other: public utilities improved in sympathy. Bear Attacks Fail. Short interests made a few In- effectual attempts to. unsettle the market, using the unfavorable foreign news as an excuse, and while they succeeded in forcing recessions in a number of active shares, they were unable to break them through their previous low levels. This was in- terpreted by some market observers as an indication of the strength of the market’s technical position, while others merely regarded it as disclos- ing a “watchful waiting” attitude on the part of large traders. Reparts that brokers’ loans were now around $1,800.000.000 were construed as show- ing that pools were still well loaded ‘| up_with stocks. Rubber shares enjoyed a period of'| strength on another increase in the price of crude rubber, bringing it to 37 cents a pound. Failure of thi Standard Oil Company of California t0-incregse its dividend rate and the overproduction of California crude ofl caused some selling of the oil shares in the middle of the week, but | they recovered somewhat in later SHARES GOHIGHER T LITLECHANGED Today’s Pr_ic’e - Moves . Are; Narrow and Irregular, Libertys Gain. BY GEORGE T. HUGHES. Special Dispateh to The Btay. NEW YORK, January 27.—As on the previous days-the general bond list was little changed today, except in thd " recent, dealings, notably . the French government: dollar loans: and the bonds of ‘the Brooklyn Rapid Transit Company. - French .7%s continued under pres- sure and sapk to_the lowest in_their history. THe 8 pér cénts sold below 92 during most of the two-hour ses. on, bonds “kept Heavy. - The detline -of the French 7%%s accompanying the day's weakness in French francs in- dicdted ‘a 1ack of any effective sup- Pport in the market for these bongs. Belgian and other European gov- ernment, {ssues, as a whole, were steady. -Liberty bonds, after early reactions, sold higher on the day. In the railway section a number of high-grade issues sagged off a bit. { Favorable traffic statements for De- cember. now being Issued did riot seem to be taken Intp.account. Some of the speculative “issues, like the St. Paul 45 of 192,” gained frac- { tionally, |- Among the industrials the Midvale Steel 53 lost a_half point or more. Tiré issues eased off on thé announce- ment of lower rubber prices. « COMMODITY NEW'S . WIRED STAR FROM ENTIRE COUNTRY CHICAGO, January 27.—Trade is good in packing-house products at the moment with a good domestic demand for cured meats, especlally bams. . Prices have advanced slightly. NEW "ORLEANS, ‘January 27.—All records for orders at the southern pine mills have been broken recently. The average orders per mill per - week have been about 983,000 feet. This compures with a previous high record in July, 1918, of~894,095 feet. Mills attribute the demand to orders from rallroads. for car materlal, bridge timber and increased building pro- grams. PHILADELPHIA, January Glazed kid factories here in Wil- mington and in Camden are operat- ing at a pre-war basis today, with prospects that demand will necessi- tate.even greater activity. = Prices for goat skine are advancing. PITTSBURGH, January 27.—Retall drygoods trade is bearing out post- holiday expectations. Inventory tak- ing is in progress today and special sales ‘heavily advertised are meeting with good success.. SEATTLE, January 27.—Accumula- tion of a surplus of eggs in New York is blamed fof the four successive drops in the price of eggs here in the last three weaks to 35a40 a dozen. Heavy shipments to the Atlantic coast Iling market cost local dealers BUTTE. Mont. January 27.—About 11.000 miners now are employed in the copper properties here. This is within 2,000 of the War year average The pay rolls are increasing steadily each week. OKLAHOMA CITY, January 27.—The offerings of wheat now in evidence in this section indicate that gpme of the estimates of wheat remaining in thie hands of growers have been under the actual figures, according to local millers. - 121,777 MARKS FOR $1 Reichsbank Reports Increase of 101,279,256 Marks in Circu- lation This Week. By the Associated Pres NEW YORK. January 27.—An over- night depreciation of 14 per cent in the quoted value of German marks carried them today to $36.& million or {approximately 27.777 to the American dollar. The marks which could be bought today for a dollar would have cost -more than $6,500. befoce the outbreak.of the wat in 1914, when marks were quoted at 33.8 cents. The last statement of the German Reichsbank showed a weekly increase of 10 56 marks in circulation. CRUDE OIL HIGHER. IPmirie 0il Company Boosts Price 10 Cents Per Barrel. TULSA, - Okla,, January 27.—The Prairie Oil and Gas Company an- nounced an advance of 10 cents a barrel in the price of crude oil this morning. The increase affects Kan- sas, Oklahoma and North Texas. The Prairie’s gdvance makes the minimum price $1,20 a barrel and the maximum $2.30 a barrel. DURANT’S LATEST OFFER. i G Will-Buy - Back Fisher Body Stock’ at Advance in Price. = NEW ~YORK, January 27.—W..C.. Durant, president of the Durant Mo- tors Corporation, has gnswered at- tacks.on. his dealinga in Fisher Body ymmon stock by sending letters " to S investors in shares sold by his company_offering to purchase back the stock at an advance over the paid in.” - . p"!":l.n;ungody. listed on the market at -around .$170 .2 share, has. heen sold by Durant in units representing one-fifth of a share. These he sold at $40 a unit, or at the rate of $200 o e rmswer to recent attacks on this procedure, he yasterday-offéred to buy back stock of all who may be con. cerned at the outlook at the rate of $43 @ unit, or $215 & share. DRY GOODS STRONG. NEW- YORK, Jauary 27 (Special). I—The market, for cotton cloths wound up the week extremely strong In tone today, but the firmness of prices had a slightly depressing effect on: the volume of trading. - Priiit -cloths, howaver, .ware in good demand .for |se nearby deliverfes and sheetings were firm and active. PUT MARKS OFF CURB. NEW_YORK, January 27.—The com-. ‘mittee on_sedurities of the New York curb market anndurnced today that it had removed from trading all inter- national issues of German marks, Austrian_kronen and Russian rubles, Which are payable in the currency fow issues which havé featured | wiillé ~ the French municipal] -| Seine, Dept of. s NEW LOW MADE TODAY| _WASHINGTON, D. -C., . SATURDAY, JANUARY. 27, . 1823, [on v vorx BONDS o mmanes Received by Private Wire UNITED STATES BONDS. Sal 31,000). High. ow. Closs. 6 10182 10176 30176 9806 - 9806 98065 9063 9853 9868 %816 12 812 Liberty 30 4%s. 246 9392 9836 2890 Liberty 4th 4)(a 250 9852 9840 9848 Victory 4%s°23 12 10072 10020 10022 UB4Y%s1082... 19 9998 9994 9908 FOREIGN GOVERNMENT, STATE =~ AND MUNICIPAL. & Low. Close f01% | 101% %% BY% o W% Y% 9% uz o uz [T b 2% Liberty 3%s. Libsrty 2d 4 Lidberty 1st 4% s Liberty 3d 43 s. 2% Brasil 7% Canada 65 1526. ., Canada 5%s 1929 LonoliBaanbala Chile 85 1948. Chile 38 1941, Christiania 8 Copentiagen 518, Crechoslovakia 88, Denmark 8s. BRofama 4% ] ” ° French Govt 8 ‘French Govt 7% Haltt 68 ctf Japanese ki » o1 107% 0% 3% 8% 9%6% % 8% Prague Tts Quee: Queensiand Rio de Jan Rio'de Jan 8ao Paulo, State, § Berbs Crotes Slov 8s. 108% 2% MISCELLANEOUS. Am Agri Chem 74%s.. 4 104% AmEmelt& R1st6s5. 12 0% Am Sugar Ref 8s.... 11 102% Am Tel & Tel ov s AmT&Tcltr5s 9834 Am T & Tl tr 4i . 91% Anaconda cvd 78 wi. 44 . 100% Anaconda 1st8s wi.. 9% Anton Jergens ov 6 1s Armour & Co 4 %: £ Atlantic Refinin, % Bell Tele Pa 78 107% Bell Tele Pabsw i 984 Bethlehem Steel rf 88 .y Beth'em Steel pm 5s. 91 Beth'em Steel s £ 6s. . Brier Hill St 18t 5%3. 2 Bklyn Edison gen bs. Bush Tm Bldg §s '60. Central Leather 55, Cerro de Pasco 8s. Chile Copper 65 Chile Copper 7s. Con Coal Md 1st Cuba Cane S cvd 8s. Det Edison ref 6s.... Dugquesne Light 6s. .. East Cuba Sug 7%4s. . 1 Empire F & G 7%s Framerican I D 78 Gen Electricdeb 5s. . Goodrich (BF) 6%s. Goodyear Tire 85 '31. Gondyear Tire8s '41. Holland-Amer s f 6s. 10 Humble Oil & R 5%s. B Indiania Stee! 58 Inter Mer Marine 6 Inter Paper 1st 55 A.. 14 Inter Paper 1st 58 B.. 14 Julius Kaysersf7s.. & Lackawanna § 58 '23. 1 Lackawanna St 58 50 17 | Liggett & Myers 7s... 3 Liggett & Myers bs. 8 Lorillard (P) 8s...... 5 Magma Copper cv 7s. -2 Moxican Petrol 8s.... ¢ Mich State Tel 1st bs. 1 Midvale Steel 5s. ... 70 Montana Power 5s. .. 4 New England Tel NYGELH&P New York Tel 6s°41.. 9 New York Tel 4 %s... 2 North Am Edison 6s. 15 North States Pow 5s. Northwst Bell Tel Otis Steel 8s........ Pacific Gas & E 5s. . Pac Tel & Tel 58 '62. . Packard Motor 2s. Phila Co ref 6s A Producers & Ref 8s. . Producers & Rf 83 w. Public Service Sa. Sinclair Oil 7s. Sin Crude Of1 53, Sinclair Pipe Line 5s. 21 Southern Bell Tel 58 Stand Ofl of Calif 7s Steel & Tube 7s. Tide Water Oil 633s. Toledo Edison 1st 7s. Union Bag & P 6s. United Drug cv 8s. U 8 Rubber U 8 Rubber 7% UBSSteelsfbs. Utah Power & Lt 5 Va-Car Chemlcal 7 Va-Car Chem 7348 ‘Warner Sugar 7s. ‘Wickwire Spencer 7s Wilgon &Co 1st 6s... & Wilson & Cocv 734s.. &2 ‘Wilson & Co cv 6s....12 ‘Winchester Ams 7%s . 5 BER-8narnnadBre ~ollaafan 1Y 1% 108 100 107 124 5% 100% . 10635 102% 107% 9% s 8 W% 108 % % 1% 108 (3 100% 108% 05 102% RS e ‘a2 102% 'HEAD OF L. R, STEE ENTERPRISES RESIBAS Promoter Said to Have Tumed - Large Block of Stock Back to Companies. e By the Aveoclated Press. - BUFFALO, N.- Y- January 27, ‘Leonard. R: Bteel, organiser and pro- moter of the various L. R. Steel enter- prises, including oafeterias, chain stores and realty developments in the United SBtates and Canada, resigned today from.all-eonnection with the various companfes. The retirement of Mr. .Steel came about as a result of a series of nago- tiations and conferences which have been in progress here for a week be- tween Steel executives and represen- tatives of stockholders. Mr. Steel is said to have turned back to the companies.a large block of stock, and the affairs of the various L. R. Steel companies hereafter will be carried on by an_executive board, probably headed by William L. Hahn, 2 Denver banker. - vartous Steel enterprises in:stock sub- financial affairs of the several corpo- rations. Unofficially it is estimated that the total amount paid into the various Seel enterprises in stock sub- scriptions $26,000.000. The stock ng organization numbered several hundred individuals. Henry W. Killeen, Mr. Steel's legal adviser, said Steel is a very sick man. DROP IN IMMIGRATION. OTTAWA, January 27.—Immigra- tion to Canada decreased 25 per cent from April to December, 1933, as compared to the same period in 1921. The total for the period in 1922 was 60,247. In 1921, it was 79,823, Em ts from the United States last year were 19,982, and In TR L =% sncz] |Grain, Produce and| Direct to The Star Ofice. g ive 'Stogk it WHOLESALE MARKET. - Not many changes'in prices marked the week's markét, Eggs dropped 2 Tents a dozen and a further declinel in price is - anticipated. *The buttér market continues firm, 2 Receipts . of meats were much larger than the demand; ‘and prices were about -the same as during the earlier part of the week. Fruits and vegetables were plénti- 8% |ful.. The market was well stocked With cholcest varietles, but the de- mand was only fair. 42; average receipts, :outb-rn, 36a37. Cold storage egg: Live poultry—Roosters, per 1b.. 15: turkeys, ., . o fi" 1b., 30a85; spring chick: 3 h, O S, ok N eate young. Gas ed - poultry—Fr Atchison gen 4s. tehison adj. 333383038 EZpempep w300Q n BuftR & Pitts d%s.. 2 Canadlan North 7s Canadian North 6% Canadian Pac deb Cehtral Pacific 4 Ches & Oh{o cv b 12 Ches & Ohlocv 4343. . 34 Ches & Oblo gn -killed spring chickens, per Ib., 33a35; hens, per 1b., 27823 ters, per .1b, 17; 'turkeys, T3y per, ib., 3bak0; Eeats young, each, Live stock—Calves, ehoice, per Ib. 14; medium, per Ib., 13a13%: thin, per Ib., 6a29.. Lambs, choice, per 1b.. 13; ;l.':xbml.'-. 3.0088.00 each: live hogs, Green frults—Appl r bbl, 176 27.00; Deliclous, No. 1.yper bl 6.00a 7.60." Californ 5.0026.00; Flor! 38=3g3a823392533¢ RI&Pac Chi Un Station 4% Chi & W Ind can 4s.. CCC&BtLrésA. potatoes, N T6al50; meary, 2502300, per crate, southern, 2.00a 3.50. Romaine lettuce, per crafe, 1.50a & RG lstreSs. 2.00; ‘Tceberg lettuce, per crate, 4.75a 5.00. Cabbage, northern, 1.76a2.00 per 100 1bs.;-nearby cabbage, per bbl. 1.26a2.25; southern, 2.25a2.50 per basket. lants. per crate, 2.50a5.00. Toma- toes, per box, Florlda, 2.50a5.00. Beans, 2.0084.00 per basket. Peas, 3.00a5.00 per basket. Peppers, per crate, Florid 2.5083.60. ~-Kale, ‘per barrel,” 1.50al. Spinach, pér barrel, 2.00a3.00. Celery, per doxen. 1.00a1.25; California. per crate, $.00a8.50. Brussels sprouts. 18a20. GRAIN 'AND PROVISIONS. BALTIMORE, January 27 (Special) —Potatoes, white, 100 pounds, 50a1.35; 150 pounds, 90a2.25; sweets, barrel, 1.50a2.35; bushel, 35a85; yams, barrel, 1.50a2.00 bushel, 50a75. Beans, bushel 2.50a3.75. Beets, bushel, 75a85. Bro- colf, bushel, 35a40. Brussels sprouts, guart, 20a25 = Cabbuge, crate 350a 00. Savoy, bushel, 1.00." Carrots, b ket, 50a60. Caulifiower, crate, 1.75a 1.85. Celery, crate, 2.0043.50. Cucum- bers, crate, 3.50a7.00. Eggplants, crate, 4.00a6.00. Horse radish, bushel, 3.00a3.50. Kale, bushel, 35a40. Lettuce, basket. 2.00a3.50. Onions, 100 pounds. 1.50a3.25. Oysterplants, hundred, 5.00 27.00.. Paarsnips, bushel, Peas, bushel, 2.50a3.25. Peppers, crate, 1.50a3.50. Spinach, bushe], 1.15a1.2; Squash, crate, 0a3.00., Tomatoes, ‘Turnips, bushel, 50a Apples, packed, barrel, 2.00a5.00; bushel, 50a1.50; loose, 100 pounds, 1.50 a1.90; basket, 40a65. Cranberries, bar- rel, §.00212.00. Grapefruit, box. 3.00a 50a4.50. Straw Tangerines, % Wheat—No. 1 red winter, spot, no quotatiani 0. 2 red winter, spot. 1.33%; No. 3 red winter, spot, no qu tations; No. 2 red winter, garlicky, 1.33%; No. 3 red winter. garlicky, no quotations; January, 1.33%. Sales—None. Corn—Cob_corn, new, 4,25 per bar- contract, spot. 52% per bushel 2 corn, spot, 83%; No. 4, no quo- tations; track corn, vellow.. No. 3, new or better, 86 per bushei. Sales—1,900 bushels of No. 3 mixed at 82. Oats—White, No. 2, asked; No. 3, 53. Rye—Nearby, 85a85 per bushel; No. 2 western export, spot. -98% 6 per No. 3, no_guotations. Hay—Receipts, 57 tons: for the bet- ter descriptions of timothy-and light there was a fair demand under lim- ited receipts at a range of 11.00 to 21.00 per ton. Straw—No. 1 tangled rye, 1.00a 16.00; No. 1 wheat, 11.00a12.00; No. 1 oat, nominal, 12.00a13.00. TODAY'S CHICAGO PRICES, CHICAGO, Jnaury 27.—~With offer: ings rather free and but limited de- mand, the wheat market had a down- ward tendency today during the early dealings. Rains and snow in the winter crop territory counted as a bearish influence. There were also predictions current that world ship- which Den Ei Grand Trunk 7 Great North gen 73, Great North gen 5% Havana ERL& P 6 Hudson & Man ret 5 Hudeon & Man aJ 6s. I Central ref s 10 Central §%s. Inter-M 438 cf Lake Shore 45 19: Market St Ry cn 5s. M & St L ref ext M&StL MK& T ist 4. MK&TprinssA. MK& Tadj5s Mo Pacific 6s Mo Pacific gn Montreal Tram 15t 63 11 Nassau E Ry. 45 1957. 21 N O Tex & Mex inc 6» 10 N Y Central deb 6s. 6 N Y Centralriés. u New Haven cv deb 19 New Haven 7s 1 New Haven 7s trancs. 70 N Y State Ry ¢%s. 1 NYWest& Bos 414s. 2 Norfolk & West cn 4s. 27 Norfolk & West cv és 16 Northern Pacific 4 E-4 North Pac ref im 6s.. 17 Northern Pacific ba.. 2 Ore Short Licn 55 °46. 1 Ore-Wash 1stref 4s.. 2 ons-Med 6s. . 23 Pennsylvania gen 6s. 32 Pennsyl gen 4%s. 2 3 7 Suswa aavwal 2*R8Is 75. Pennaylvania 6%s Reading gen 4s. ... StLIM&SR&G s StLIM&S ds°'29 StL&SFprindsA. St L &S F prin 5s. StL Finces... BtL &S Fadj6s. BSeaboard A L adj 5s.. 26 Seaboard A L con €s. 72 Bou Pacific ev Sou Pacific ref Sou Pacific cit 4s. Bouthern Ry 1st 5s. Southern Ry gen 4s.. 1 Southern Ry dev 6%s 10 Sou Ry Moblle £ O és « Third Ave adj 5s. .2 Union Pacific 1st 4s.. j0 Un Pacific 1st ref 4s.. 6 Wabash 1st 5. 2 ‘Wabash 2d 6s. 1 Western Maryland 4s 10 ‘West Shore 1st 4 ‘ TOTAL SALES (Par Value): 1lam... 3219000 32noon.. 4182000 —_— ¢ per Bushel a arge total. The opening. l'srf!d from unchanged figures to 3 cent Jower, with May 1.161; to 1.16%, and July 1.1 to 1.11%, was followed by a moderate generai sag and then SHORT-TERM SECURITIES, Something of a reaction. « tions furnishe P Corn and oats declined with wheat. e ®d by Hodmond & Co) | sqier opening unchanged to % cent 8 e |lower, May 72%, the corn warket un- derwent a setback all around. Alemiaem Gor of Amer. 78 e Oats started unchanged to 14 cent American Cotton OIl 6 1624 off, May 44%, later all deliveries were American Sugar 6s 1837.. down a little. : Amterican Tel. & Tel. 6s 1924 Prospects of continued liberal re- s celpts of hogs weakened the provision Anaconda Copper 6s 1020. market. ‘Anaconda Copper Ts 1929, DAIRY PRODUCTS. ca Anglo-American 01l 7 Ardour & Co. 7 Tog0. o2, 1925 - BALTIMORE, January 27 (Special). —Live poultry—Turkeys, pound. $6a 43; old toms, 30; poor and crooked breasts, 25; young chickens, 27a28; poor and leghorns, 20a25;.o0ld hens, 23a26; small and leghorns, 20a22; ol roosters, 16; ducks, 20a28; geese, '17a 25; pigeons, pair, 30a36; guinea fowl, h, 40a60. Dressed poultry—Turkeys, 35a40; old toms, 30; poor and crooke breasts, 25; voung chickens, 26a2’ old and mixed, 24a26; old rooster 17; ducks, 25a30; geese. 20a25; capons, 25236; medium, 33a34; small slips, 2.30. ”El'fi-—lfl- off; native and nearb firsts, dogen, 37: southern,: 35. - Butter—Creamery; _fancy, pound, 51a52; prints, 52a64; nearby creamery, 44a45; ladles, , 35a36; rolls, 33a35; dairy prints, 34a35; store packed, 33; process butter, 42a43. - CHICAGO LIVE STOCK MARKET. CHICAGO, January 27 (United States Department of Agriculture).—Hogs— Receipts, 5,000 head; holdover, 10.881; light hogs, 10 to 15 higher; butchers, N ndy: few early sales higher: bulk 160 1o 200 pound ayerages, 8.30a8.35; top, 8.50; bulk 250 to' 300 pound butch ers, 7.95a8.00; welghty packing sow 6.7627.00; desirable pigs, estimated _ holdover, 4,000; sales, 7.85a8.30; heavy-weight hogs, 88.05; ' medium, 7.95a8.35: light, $.28a8.30; light ligh 528,50; pack- ing sows, smooth, 6:90a7.30: packing s, rough, 6.75a7.00; killing pigs, ,76a8.25. z . T Catils — Receipts, 500 Head: com- week g0, beef steers, bulls, Stockers and, feeders steady; butcher she stock, 26a40 higher; better grade heifers showing most advance; can- riers "and citters, steady to strons; veal calves, 25 to 50 higher; top. ma-~ tured steers, 11.50; best long year- lings, 10.75; week's bulk prices fol- low: _Beef steers, 8.35a9.80; . stockers and feeders, 6.50a7.75;: buicher -she, stock, 4.66a6.76; canners and cutters, 2.85a8.85; veal calves, 11.00211.76. . | Sheep — Receipts, 2,000 head: rin practically all direct; compared week ago. fat wooled lamby, steady to Wweak: clipped kind, 10 to 16 lower; fed yearling wethets, 25 lower; sheep fully steady; feeding and shearing lambs, 35 to 40 higher; week's extreme. fat-lamb: top, 18.50; closing top, 15.00. to packers; closing bulk fat, wooled lambs, 14.25a 14.75; shorn description, 12.25212.80; mostly_good to cholce 75-pound. year- i 12.25; heavy fat ewes, 5.5026.5; mostiy lighter-weight kind, up -to 7.50; desirable 60 to 70:pound fesding and shearing lambs, 15.00a15.25. New York Egg Prices. ‘W YORK, January 27.—Eggs— ‘Unsettled; - Teceipts, 20,167 thered extra firsts,. 37%a3 3 rats, 35%a87; New. Jérsey hgnnery whites, locally candled, extras, 55; do, umcandled extras, 53a55; state. ui nearby hennery browns, extras, 42a44; Pacific coast whites, extras, 53add. CLEARING HOUSE REPORT: - NEW YORK, January 27.—The ab- tual’condition of clearing house banks C.. C. C. & Bt. L. 6s 1920. Di Pont 7%s 1931, Goodyear T. & R. 8s 1081 t Nortehrn 75 1936 Hocking Valley s 1924 Humble Ol 5155 1832, Fanwas City Term, 65 1673 fennecott Copper 7s 1930, Libby, McNeil & Libby pound, )(..rén %8 8 'M 6 Morrls & Co. T3s 1930 Penn. R. R. 7s 1880. St. Paul Uslon Depot 5igs 1938 Sears, Roebuck & Co. T s Southwestern Rell 7s 1925. Standard Ol of Calif 7s i Tidewster Oil 6! s 1 Westinghouse E1. & M7 BOSTON STOCK MARKET. BOSTON, | January 27.—Followl; 18 €1int of today’s highest, lowest an closing prices for the most active stocks dealt in here: 8hoe Machin Trinjty . Ventura Waldorf . Walworth FOREIGN EXCHANGE. tions furnished W. B. HN Senusry 21, 0B i1igs amr © O Nomisal - Selling check: i g0ld value. l-: a g owtrea1,” doltar Lwfi“ Paris, franc. 0681 Brussels, fran 10608 Berlla, mark. “00089 Rome, lira. o418 Bragas. crown ra Waiaw, mark.. o | Copenhagen, crowa. Christiania, crown Stockholm, erown. By the Asscciated Presa., ' 25 NEW. YORK, January 27.—:Foreign evchangesé €asy. Quotation tn cents) Great Britdin, demdnd, 4.8¢ cables, 4.§4 9-18; 60<day biils on bank - France—-demand, ~.0639; .0630. Ttaly—demand, .0477; .0477%. _Bélglum~demand, [0565%; cables, .0566. Germany—de- mand, *000035;- cables, 000036 Ha! land—demaypd, .3246; ecables, ..3880. Norway-=demand,” 1870, waden: demand, ~:2670. "Deumark—dematid, .1930. . Switserland—demand, _.1866. Spain—@emand, :1660. . Greece—di mand, .0125, - Poland—demand, .000034 Csechoslovakia=-remand, . -.0288, . - Ar- gentine—dpmard, .8713. Bratil—de- mand, .1160. Montreai; 99. In Norway.the heads of' codfish are mixed with- marine plants and given) mut:u ©00Ws 10 increase their yleld of E bRy hows that. they hold $14,624,520 1a exC of legal requirements. This is & decrease of $2,611,920. 1.2521.30. | oid | d! and trust companies for the week | FINANCIA WAVE OF BUYING SWEEPS COUNTRY Manufacturers-Hasten to Fill Requirements Through Fear of Higher Prices. BY J. C. ROYLE. Special Dispateh to The Star. NEW YORK, January 27.—Manufac- turers are buying today in even heavier volume than they are selling. The up- ward trend of prices in certain com- modities has become so unmistakable that manufacturers are rushing into the market in a vigorous effort to supply their future requirements before the actual price advances become effective As a consequence what might normally be a dull season for the railroads finds thent pressed to the utmost and turning back business for lack of equipment to handle it. " These facts were fully con- firmed by dispatches from varlous sec- tions of the country recefved here today. Automobile manufacturers are buying steel sheets in tremendous quantitie One maker is seeking offers to fill his entire requirement for the year, accord- ing to reports from Detroit. Oil men are buying pipe and tank materials in exceptional ~ volume, . Pittsburgh and Youngstown report. Cotton mills are taking the raw staple as fast as thes can buy it and get it delivered to the spindles, Lumber Shipments Heuvy. Furniture dealers all over the country are. increasing their plants and buying raw materials for a heavy sales drive later in the year. Officials of the Pere | Marquette railroad reported today that the volume of lumber going Into Grand Rapids was 100 per cent above ship- ments a year ago, while finished prod- ucts going out show an increase of only 9 per cent. Lumber mills, both in the south and {on the Pacific coast, are booking orders {far faster than they can saw the logs, and shipments are well below new busi- ness. Railroad repair shops are manned fully, and the equipment manufacturers are booked months in advance. Skilled labor is in demand in nearly every in- dustry, with the steel workers and tailors in special demand. Middle west- ern manufacturers also report a short- age_of unskilled labor. While the response to the opening of the fall lines of the American Woolen Company has not been made public officially, it is understood that jobbers and the garment trades have bought briskly and that the leading woolen cloth ‘manufacturer has soid heavily in some lines. It is expected that these | lines will be withdrawn from the market in the near future. Cotton Goods Sales Rushing. Cotton goods are being sold in tremendous volume throughout the south and west in anticipation of still higher prices. Silks are in splendid demand, especially for the Easter trade, and manufacturing has { ot been checked by the steady prices maintained in general for the raw product While the consumer will be called upon to pay fairly substantial ad- vances in clothing as a result of the increased costs of materials, retail- ers are striving to keep these ad- vances, within the lowest bounds pos- sible. 2 Rubber, after rising to high fig- ures during the week, dropped down slightly to the 36-cent level, at whi British producers hope to hold it. Tire manufacturers continie to op- erate at approximately 90 per cent of capacity, plling up surplus stocks for the spring demand Buyers of carpets and rugs. for the larger retail houses throughout the country are active jn this market at present. Mills are closely booked and experts assert that many have ac- cepted g0 many orders that they wiil be unabla to fill only from 75 to $0 per cent of the bookings. Non-ferrous metals closed the week in excellent positio: The domestic demand for copper hgs been heavy and ‘the lead market is very firm: - Zinc is in small supply. Demand for seeds has begun -to _make itself. felt throughout some” of the souther: agricultural states. (Fopsr 1923.) SHOW BIG ADVANCE Value Increase in 1922 Qver Previous Year Placed at $16,167,000. { Special Dispateh to The Star. BALTIMORE, January 27.—Mary- iland’s major crops last year had total value of $64.585,000, and were worth $16,167,000 mdre than in 1921 according to an announcement by Dr. T. B. Symons, head of the extension service of the University of Maryland The increase in value is due both to larger crops and higher prices for farm products, prineipally- the latter dccording to Dr. Symons. Value of 1022 Yield. The value of the 1922 crops was; however, $25,448,000 less than those of 1920, and $45,521,000 less than the high record set by the 1919 crops. The total- value of the latter reached $110,119.000, his figures show. They show, also, that the crops last year were worth more than fwice as much as-in 1909, when the value was placed at $31,45%,000. Corn, as usual, was thé most valu- able of Maryland's_crops, Dr. Symons said. It was worth § 000, which is $6,000,000 more than 1921. The difference may be largely accounted for by the fact that the 1922 crop [sold for from 65 to- 70 cents .a bushel. | while the vear before it brought only 140 to 50 cents a bushel, the extension service head explained. Hay and Wheat Next. Héy and wheat stood second and third, respectively, in value, according to the statistics. . The value of the hay is placed at $12,173,000, and of wheat at $10,681,000. Tobacco came fourth, having a total value of $5,390,000, only slightly more than half that of wheat. Its per acre yleld was, however, the highest of all crops, the average income per acre being $154. Though sweet potatoes were growir on a larger acreage than usual and gave an average yield of 153 bushels %o the acre, with-a total production of 1,630,000 bushels, Dr.-Symens said that the farm value was only $765.- 000, or $500,000 less than in 1921, when the total yield was considerably lower- 4 2 Belated frosts iast April prevented the Maryland fruit crop from being a record breaker, sccording to- Dr. Symons. It was better than in 1921, though it did not nearly equal that of 1920. 4 B e s TREASURY CERTIFICATES. (Quotations furnished by Redmond & ~——Close. aturity. Bld. B Mareh 13, 1023 Co.) £ 99 1516 100 15 991316100 - %% 100 i - i0E 5 . 100816 1004 . 1 $9.15-18 100 1- 00t 9811 10k i 29 3 99 15:18'100 1]