Evening Star Newspaper, January 30, 1923, Page 26

26 PRINCIPAL STOCK - GHANGES UPWARD Movemenis Very Irregular, as Waiting Attitude Slows Up Trading. BY STUART P. WEST. 8pecial Dispateh to The Siar. NEW VORK. January $0.—The principal changes in the stock mar- liet today were upward, but there was not uniformity in the movement and there were times wh realizing sales had their effect. In general the ma Let followed along the same lines that have prevalled for the last two vecks. Certain stocks appeared heavy, but only because the active rading element was going out of em and Into others which were on the move Thus former leaders like Baldwin lLocomotive, Steel common, Stu baker und the oils were set aside for of the ruils and for industrials of the pecialty wpe. American Voolen felt th benefit of the rec suceessf offeiing of fall goods resulted in their withdrawal temporarily from the market Stock List Irregular. The additional publicity given to e prosperily of the department store trade led to a brisk advance in Asso- ciuted Dry Goods and with it May Department Stores. The ope n Reynolds Tobacco B continued Laving in mind the prospect of in- reased dividends later in the vear. I'rofit-taking came into Columbia Gas, which had been the leader in_the public vtility group Monday, but Peo- ple's tax of Chicago was taken up in capectation of some favorable action t the unext d end meeting, he railway list was irregular, but enerally strong. kecent earnings of Fhicago and Northwestern have been o good that the market ha been discounting the restoration of 7 per vent dividends du & the just anys, Other standard vtdend ers like Southern Pa Louis and Nashville, Unien Pacific and nadlan Pacific all reached the be price they ve had in some time: People’s Gas Strong. People’s Gas of Chicago was sStrong today In anticipation of favorable dividend action at a directors’ meet- scheduled for February 10. 1t is eported that People's Gas will either inerease the dividend rate from the prexent $6 annually to $7 or will maintain the $6 rute and pay an ex- tra suffictent to make up for divi- dends not paid in the past i The advar Fisher Body of Ohio referred, hich has woried it to ound par, is d the beltef that e issue Y to be retired this year. The stock is subject to redemp- tion In whole in part upon any dividend date at 110 and accumulated <ome uapald dividends on thirty days’ no- | . The rompany during the last few rars has built up a good earnings osition of {ts own. and is able take, of its own dividend re- ulrements, with something to spare, ‘thout calling for help from the nt company, which is the Fisher Body Corporation. which owns the en- tire common stock issue. Review nnd Outlook. In all the markets today the domi- tnant inclination was to seitle down and awalt developments in the situa- tion abroad. This was true alike of the security and commodity markets. It was only partially true, however. In the case of foreign exchanges and foreign government bonds. French exchange continued to weaken. and at its low of the day was scarcely more than a quarter of a cent away from {ts bottom of all times. French government bonds did not equal their low prices of Monday, but they were atill manifestly under pressure. The Belglan 11as of the external dollar loan sold at the lowest of the present move- ment, and came within a half point of equaling their record low made at the time, two years ago, when all securities of whatever rank were being pitched over to meet the exigencies of the finan- clal crisis. The fact that sterling exchange and Italian lire broke away from the other European currencies and were stronger was of much significance. It was a fresh expression of faith that the eco- nomic situation in these two countries is not depende: - outcome of German reparations. erman mark made the usual dafly new low record as a logical accompanying of a record- breaking increase of over 200.000.000,000 in the paper-note circulation for the week ending January 23 A Walting Attitude. The position assumed on the stock cxchanges abroad as weil as here was, simply, that conditions in the Ruhr are not likely to change for some time, that they had settled down to an economic struggle the outcome of which cannot be predicted with any assurance. Therefore, while this out- come is not feared from the stand- point_of American and British finance, the uncertainty is sufficlent to re: strain new enterprises for the time heing. Also while the financial com- munity finds it hard to beliove that the Turks will go to war with Great Britain over Mosul this is a possibil- ity which should come to a head with- in the next weel. It was a cuestion whether Anglo-Turkish affairs did not recefve more attention in today's markets than events in the Rubr. Decline in Early Afternoon. The general list sold off somewhat In the carly afternoon, but the decline ild not go bevond a ‘half point to a point in the speculative leaders. Pro- fessional traders looking for a re- action were afraid to take much of & _position on the short side in view of the evident scarcity of real stock for sale. California Petroleum was one of the features in the late dealings on talk of dividends of 6 and perhaps as high 5 7 per cent. (Copyright, 1933.) BUSINESS IN SOUTH STEADILY IMPROVING Br the Associnted Press. ATLANTA, Ga., January 30.—The Leginning of the new year has orought u “steady increase in con- fidence and faith in the future which has been growing throughout the ar just ended,” declares the Fed- crai <ummary for ‘December of business conditions fn the sixth federal re- rve district, made public here to- day. The sixth district includes the .tates of Georgia, Florida, Alabama, Loutsiana, Mississippi and Tennessee. Fundamental business conditions are sound throughout the district, re- < the bank, which sees “no in- in evidence at present which 1y to cause adverse develop- ments Bullding and construction programs, including highway work, progressed steadily through Decem- ber and projects already arranged for arc expected to keep a large amount of labor employed for months to come. e INCREASE 'IN EARNINGS. Western Maryland = Reports Third Week in January. BALTIMORE, January 30.—Total esti~ niated earnings ‘of the Western Mary- land Railroad Company for the third week of January amounted to $378,- 399.82, an increase of $38,613.74, or il per cent. compared with the correspond- ing week of January, 1022, Passenger, mai] and milk earnings showed small decreases, but all other revenue items showed subatantial ns. For the iirce “weeks ended. January. 21 the company shows an increase. of $134,- 737.82, or 16 per cent. the‘total being 1,Y95.544.57. amairist $370.606.55 for the . sesresponding perivd lust §cal, for leserve Bank of Atlanta in itsj FINANCIAL. .THE EVENING' STAR, WASHINGTON, D. . TUESDAY, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice I Adams Express Adv Rumley ATr Reduction Alaska Juneau.... Allted Chemical Allled Chem pf. Allis Chalrner: Am Agr Chemical: Am Agr Chem pf. Am Bank Note. Am Beet Sugar. Am Brake Shoe Am Can Am Chicla Co., Am Cotton Ofi {Am Drugeist. |Am Hide & Lea pf. Am Tee pt i Am International. |Am La France.... m Linseed pf. Am Locomotiv {Am Metaln Am Roll Mill pf- Am Radiator. ... Am Safety Razor Am Ship & Com... Am Smelting. .. Am Smelting pf. |Am Steel Fay. Am Steel Fdy pf. Am Sugar. Am Sugar pf Am Tel & Teleg Am Tobacco. . . Am Tubacco (B).. Am Water Wke. .. | Am W Wke 6 pt. {Am Woolen. ...... Am Writing Prpf. Am Zine & Lead Anaconda. ... Anso Dry Goods { Associated Ofl Atchison. Atchison Tf....... Atlanta Bir & Atl. Atlantic Cst Line. . Atlantic Guif..... Atlantic Gulf pf l Austin Nichols Raldwin Loco. Ralto & Ohio. Ralte & Ohio pf Barnesdall (A) . | Barnesdall (B).... | Reechnut Packing Reth Steel (B). ... Reth §t1 7% (0) . .. Beth Steel 8% pf. . Rooth Fisherle: Brit Em Stl 2d pf. {Bklyn Edison. | Bklyn Rapld Tran Bklyn Rap Tr ctfs Bklyn Union Ga: Rrown Shoe. ... {Buff Roch & Pitts. Rurns Bros (B)... Butte Copper. . Butte & Superior. !r‘ lifornia Petrol. {California Pete pf. Callahan Zinc. . Canadian Pacific. . Cuve Threshing Central Leather Central Leath pf.. {Cent RROfNJ... Cerro de Pasco. Chandler Motor. .. Chesap'ke & Ohlo. Ches & Ohlo ptw 1. Chi & Alton...... Chi & Alton pf.... Chi & East Ii1. Chi & East 11l pf.. |Cht Great Westra. Chi Great W pf. ChiMil & StP... Chi Mil & St P pf.. Chi & Northwn. Chi & Northwn pf. Chi Pheumat Tool. ChiR1 & Pacific. . Chi R1& P 6% pf.. ChiRI&P7%Dt.. ChiStPM&Om.. Chi St P M & O pf. Chile Copp! Chino Copper-. . Cluett Peabody. .. Coca-Cola. . Colo Fuel. Colo & Southern. Columbia Ga. Columb‘a Gr: Columbla Graph pt Comp Tabulator.. Conley Tin Foil... Consol Gas new Cons Textile Cont Can..... Cont Can w1, Cont Can pf. Cont Insurance Continental Motors Corn Products. ... Cosden & Co Crucible Steel. ... Cuban-Am Sugar.. Cuba Cane Sugar Cuba Cane Sf. ... Davidson Chem Del & Hudson. ... Del Lack & Wsta. Detroit Edlson. . Dome Mine: . Du S8 & Atlantic. Dupont (EI). Dupont deb. Eastman Kodak.. Electric Stor Ba Elk Horn Coal. Emeraon-Brant pf Endioott-Johnson. Erle Erle 1st pf. {Erie 2d pt. ... Famous Players. Fed Mines & S pf.. { Fldelity Fire insur. | Fifth Ave Bus w I.. iFisher Body pf. |Fisher B of O pf Fisk Rubber. . Freeport Texat Gen Asphalt. Gen Baking. Gen Clgar. Gen Electric. Qen Elec spl w1 Gen Motors {Gen Motors pf Gen Mot 6% deb Gen Mot 7% deb. GNliiand Ol pf.. {Gimbel Bros {Goldwin Corp. {Goodrich. . Goodrich pf. Granby Consol. Gray & Dav . Great Northern pt. Great Nor Ore. ... | Gt West Sugar p! |Guantanamo Su {Gult Mo & Nor. {Gulf Mo & Nor pt |Gulf States Steel.. Harbishaw Cable Hartman Corp. Houston Oil. . Hudson Mator Hupp Motors. Hydraulic Steel Illinois Centra Illinofs Cent Inspiration. Interboro Metro Interborough pf. { Interburo Rap Tr.. Int Cement. .. Int Cambustion B. Int Harvester. . Int Mer Marine. 1nt Mer Marine pf. { Int Nickel. | Intl Paper Int] Paper (sta)... IntShoe. .gere--e invineible O11 i1ron Products ! Istand Of1. Jewel Tea. Jewel Tea pf. Jones Tea. . Jones & L'ghlin pt Kansas City Sou.. Kansas C Sou pf. Kansaa & Gulf Co. Kayser (Julius) Keolly-Spring Tire Kelpey Wheel. Kennecott..., Laclede Gas. .. .. Take Erie & W. . Lee Tire & Rubber 12% 83'% 4% 115% 8 19 - 1064 0, 1 47 823 5 8% 1% % 17 3 230 898, 9% o8k iy 0% 0% 6 1035 2% 3 sa% 2% Liggett & Myers. . Lima Lovomotive. Loews Inc... Lorillard (P) Manhattan El ctfs Manhattan Shirt. . ; [Marland Of1. Martin-Parry. Mathison AFkill... Maxwell (A) Maxwell (B) May Dept Stor: MclIntyre Porcu... Mexican Seaboard. Miam{ Copper..... Middle States Oil.. Midvale Steel..... Minn & StL (n). .. Minn St P& SSM. MStP&SSMpt. Mo Kan & Texas. . Mo Kan & Tex p! Mo Pacific.... Mo Pacific pt. | Montgomery Ward Moon Motors. ... Mother Lode Cltn. Mullins Body..... Natl Aeme........ Nat] Biscuit wi. Natl Condult. . atl Enameling atl Lead. .. evada Copper. New Or Tex & Mex N Y Air Bral N Y Central. NYNH & Ha - NYO& Weatern.. N Y Shipbuilding. . Norfolk & Western North American. . North American pf Northern Pacific. . Ohio Body & Blw.. Ohio Fuel Sup. Oklahoma Prod. .. Orpheum Circuit. . Otis Elev pf. . Otis Steel Pacific Develop. Pacific Gas & EI Pacific Mail. Pacific Oi1. Pac Tel & Tel. Packard Motor. . Packard Motors pf. Pan-Amer Pete. .. Pan-Am Pete (B). Pennsylvania..... Penn Seabd Steel. . Penny (J C) pf.... People's Gat . Pere Marquette. .. Pere Mrq prior pf. Phillips Jones pf. . Phillips Pete...... Plerce-Arrow pf. Plerce-Arrow. Plerce Ofl. . Piggly-Wiggly... Pitts Coal. . Pitts & W Va. Pitts & W Vapf... Pond Creek Coal. . Postum Cereal.... Pressed Stl Car pf. Producers & Ref. . Public Serv of N J. Pullman Co. Punta Alegro..... Pure Oll... . Railway Steel Spr. Ray Con Copper ing 1st p! Reading 2d pt. &% | Remington Typr. . 8 |Remingon 1st pf. B3% | Replogle Steel. ... 98% | Rep Iron & Steel. . 74% |Reynolds Springs. 102" | Reynolds Tob (B). 234 | Reynolds Tob pf B Royal Dutch...... 8t Joseph Lead. St L & San Fran StL & San Fr pf. St Louis Southwn. St Louis Sown pf.. Savage Arms. Seatoard A L pf. Seneca Copper. Shell Trad & Tran. Shell Union. ... Simms Petroleum Sinclatr Ofl Sincluir pf. Skelly Oll Sloss-ShefTeld pf.. So Porto Sugar.... Southern Pacific. . Southern Rallway Southern Ry pf. “picer M{g Co. Spicer Mfg pf..... Standard Milling. . Stand Ol of Calif. Stand Oil of N J wi Stand Ofl of N J pt Steel & Tube pf... Sterling Prod..... Stewart-Warner. . Studebaker. ...... Submarine Boat. Supertor OLl. Superior Steel. Sweets Co of Am. Tenn Copper. xus Company... ‘exas Gulf Sulphur Texas & Pacific. .. Texas & P C & Ofl. Third Avenue. .... Timken Bearing.. Tobacco Prod. Tobacco Prod A. .. Tol &S L& W ptf... Trans Contl Oll. Unlon Pacific. Union Pacific pf. Unton Tank Cr pt. United Drug. United Fruit United Retail Strs U S Cast Ir Pipe U S Food Prod. U'S Hoffman Mch. U 8 Indus Alcohol. US Rubber. : U S Rubber 1st pf. U S Smelt & Ref. . USSmelt & Rpf.. U S Steel. . 5 USSteel pf....... Utah Copper... | Vanadium Corp Van Raalte. Van Raalte 1st pf. Va-Car Chemical. Va-Car Chem'l pf. Valr C & Coke pt. Vivadou. 7 Wabash 5 Wabash p! e Wabash pf (B). .. Wells-Fargo Exp. Western Elec pf. . Western Md...... Western Md 2d. Western Pac pf. Western Unlon. .. | Westhse Air Brie. Westhse Eles & M Wheeling & L E. . Wheeling & LI pt | White Eagle Oil. . White Motor { White O11. Willys-Over! 3 ota | Willys-Overld pf. 7014 | Wisconsin Cent'l. Woolworth....... Woolworth pf.... | Worthington. Youngstown Tube. Call Money irregularly, on centimes. francs 30 centim %, } loan, 15 francs 25 . Phe dollar 21 [ 18% 1 1 180% 85 68% 2% 1 104% 3 % 9% . BN n 3 1025 [ 8 oy 821 1%, Py & 1% %% 874 804 s 3% 1018 %' 384 5t 9 bl 0% 1% e 0% 7 8% 19 ] ity 2% 125% . 0% 8% the & 105 18% 56 [ 35y 103 PARIS-BOURSE UNSTEADY. PARIS, January 30.—Prices moved today. ‘Three per cent rentes 38 francs 10 Exchange on. London Kt g | LESS PRESSURE ON FOREG BONDS Railway Shares Display Strength—Libertys Appear Under Accumulation. BY GEORGE T. HUGH Special Dispatel to The Star, NEW YORK, January 30.-—Except that there was less pressure against foreign government bonds, which, while duplicating in the more active issues the low prices of Monday, were not sold in such great volume, the investment market changed very lit- tle today. The strength of based on December earnings that have surprised stockholders, was found to be an argument for recom- mending the purchase of rallroad convertible bonds and other junior issues that are more dependent for thelr quotations on earnings than on any other factor. Raliway Issues Firm. Such movements have followed Pmonthly reports of railway revenues »r some time, but there has been no {permanency to these movements. The {market in general is in control of the two factors of oversupply of new issues, quite & number of which are now available bLelow subseription prices, and the nervousness that ex- ists over the forelgn situation. The ill-effects of the Ruhr occupa- jton as ceen by the American in- vestor, were illustrated in th_ offer- fng down of Puris-Lyons-Med 65 sev- eral points and in the n low e~ ord for framerican 7'3s. Arguments for selling these bonds were that since the occupation of the Ruhr French iron and stcel plants have had to clase for lack of coal and railway (raflic has suffered from par- tial cessation of raw materfals pre- viougly obtalned from Germany. Liberty Bonds Steady. Liberty bunds were steady, with apparent accumulation of the tax- exempt 31&. Short-term issues were more In demand. It is encouraging to know that our government flnances are In such good condition as indicated in the Precident's message on the budget. The deficlt, which «t one time prom- | ised to exceed $800,000.000, hus been { reduced to $92,000,000, « balan, end of the fircal year. This been accomplished by he adherence to the poliey of ccon omy an thd effective co-ordination of routine busines; railway shares, COMMODITY NEW'S WIRED STAR FROM ENTIRE COUNTRY BOSTON, January 30.—There is a | tecling In the woolen trade today that the level of prices named by the | American Woolen Comp: for fall fabries is too low pared with current quotations on raw wool, wnd expectations were cxpressed today that goods prices would be gradual- |1y advanced. ATLANTA, January -Southern naval stores operators will meet here in February to attempt to reach an agreement with the carriers on rates from Georgla to Ohlo and Mis- aixsippl river crossings. The pro- ducers are Aighting to maintain rates on rosin, pitch and turpentine. as ST. LOUTS, January 30.—Large con- cerns here which manufacture mer- chandise containers today are ar- ranging plans for plant enlarge- ment, as demand Is growing so fast production cannot keep pace PITTSBURGH, January 3a—All of the local ice compuniex, With the ex- ceptlon of one small concern, will be consolidated. The new concern will be known as_ the Federal Ice Com- pany. CHICAGO, January 30.—Big clothing manufacturers with plenty of orders day on spring goods and_increasing their pay rolls. Hart Schaffner & Marx is expected to surpass even the 2 record, which showed carnings have increased more than $3 a share. NEW ORLEANS, January 50.—Fu niture dealers said today that the de. mand for office furniture was from to 20 per cent ubove dhe correspon: ing period of last year, although only a moderate uumber of new offices {have been opened PITTSBURGH. January 30.—Several independent sheet mills are sold up for the first quarter and the Ameri- can Sheet and Tin Plate Company s sold up to June. If the independents fill their books for the first quarter in the near future an advance in price is expected. CHICAGO, January 30.—The con- tract_has just been let to the Ameri- can Bridge Company for 10,000 tons of structural steel for the J. R. Thompson Hotel, at Dearborn and Madison strgets. which will be twen ty-two stories high, and construction on which will start May 1. The same company will furnish 5.000 tons for a twenty-story office building. UNTONTOWN, Pa. January 30.— Coke production reached 245,000 tons last week, the largest for any corre- eponding period since February, 1920. Chver 808 ovens were fired during the week. There is a surplus of labor. with all strikes called off. Only the car supply limits production, PITTSBURGH. January 30.—Car supply is o factor in prices of coal. There is a spread between $3 and $3.75 for run of mine steam coal. I.ump and prepared tonnage runs up to 35 to $5.25. By-product and gas coal averages about $4, with a wide range in selling prices. PORTLAND, Ore.. January 30.—Eu- .rope Is eagerly demanding canned salmon and Inquiries indicate that the demand is greater than the avatlable supply at present. The principal call {at present from Europe seems to be for pinks, but the domestic inquiry for reds is excellent with business be- ing accepted by the packers around $2.25 per dozen. e e FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) January 29, 1923—1:00 p.m, Nominal Selling checks gold value, today. 4.8665 4640 -3 10 544 00026 04 1554 00001415 ‘0004 0290 Copenhagen, cror Christiania. crow Stockholm, crown . i " YORK, January 30.—Foreign exchange irregular. Quotations (in cents): Great Britain, demand, 4.633 cubles, 4.64; sixty-day bills on banks. France, demand, .0602; cables, Italy, demand, .0474; cgbles, Beigium, demand, .0534% demand, Holland, Norway, demand, .394 demand, .1855; Sweeden, demand .2674; Denmark, demand, .1912 Switzerland, demand. .1865; Spain, de. mand, .1555; Greece, demand, .01181;; Poland, ‘demand, .000030; Czechoslo- vakia, demand, .0287: Argentina. de- : demand. .1150: on their books are rushing work to- | JANUARY. 30, 1923. [ox xsw vorx BONDS sroex mecmavee] Received by Private Wire Direct to The Star Offica UNITED STATES BONDS. Bales ($1,000). Liberty 3%s (3 Liberty 1st 48 1 Libercy 1st 4 54 Liberty 2d 4%s. 319 Liberty 3d 4% 9. 153 Liberty 4th 43 s 1997 Victory 4%s°2% 51 UB4%s1962... Note: Jergens 6s, Framerican 7%s, Holland-American 68, Paris-Lyons- Med 6s and United Steamship of Co- Penhagen 6s now quoted in forelgn Low. 10156 Close. 10163 9810 9842 2808 9872 9830 10020 983 High. 101 %6 9870 8 60 9810 9,86 98 44 10020 M 9 FOREIGN. . High. Low. Clese Argentine 7. Belgium 7%, Belgium Belgium Bern s Brazil 8s. Brazil 748! Canada bs 1926 EBSRERRE aSeabie Chile 85 1926. Chile 85 1941. Copenhagen 64s. . Cuba 568 w i Czechoslovakla 8s Denmark | Denmark 6s j Dutch East 1 6547 Dutch East T 6562 Framerican 1 D 7% l French Govt 8s French Govt 7% Haltl 65 ctfs. ... Japanese 1st 4153, Japanese 2d 4 Japanese 48 Jergens U M 6« Lyons 6s. . Marseilles 6s Mexico 58. ... Mexico bs lar Montevideo 7s. Netherlands 6= Norway 8s. Norwar 6 ¢ 5 Paris-Lyons-Med §s. . Prague 7128, Queensland 7s. Queensland 68 Rlo de Jan 8s 194 Riode Jan 8s 1947. Sao Paulo, City Sao Paulo, State, 8s. Seine, Dept of. Serbs Crotes Slov 8s. Solssons 6s. | Ud Kingdom 5 Jd Kingdom 5 43 '3 { Uruguay 85 1946 Zurich §s MISCELLANEOUS. | Alax Rubber sa.. Am Agri Chem 7143, Am Smelt & R 18t 5s. Am Sugar Ref 68 Am Tel & Tel cv & |Am T&Tcltrss. {AInT&Teltr 4. | Anac 1 An; Atiantic Refining 53 Armou Bell Tale Pa Ts. l Bell Tele P : Bethichem Steel rf bs | Beth'em Steel pm Beth'em Steel s £ 63 Brier HIlI St 1st 5%s. Bkiyn Edison 7s D. Bkiyn Edison gen &s. | Bush Tm Bldg 6s 60, Central Leather 5s. Cerro de Pasco 8 Chile Copper 6 Chile Copper 7a. Cin G & E15%s '62. Con Coal Md 1st 5s. .. Cuba Cane S cvd$s.. Jet Edison ref 6s. Du Pont de Nem 7148 Duquesne Light 7145, Duguesne Light East Cuba Sug Empire F & G 74 Fisk Rubber s Gen Electric deb 5 Gen Refractories Goodrich (B I) 61is. Goodyear Tire 85 31. Gondyear Tire 8341, { Humble Oil & R 5355, Indiana Steel 58 Inter Mer Marine 6s. . Inter Paper Ist 5 A. . 2 Inter Paper 18t 53 B. . Julfus Kayser s f 7s Lackawanna St 53 60 Liggett & Myeas 5s. anati Sugars {7 fexican Petrol 8s. Mich State Tel 1st Midvale Steel 5e. Montana Power & Morris & Co Ist 4155, National Tube 1st bs. New England Tel os. N Y Edison 18t 6%s.. NYGELH&PSs 8. North States Pow 5s. Northwst Bell Tel Otis Steel 8s. ... Pacific Gas & El 5 Pac Tel & Tel 5 Packard Motor 8 Phila Co ref 6s A. Producers & Ref 8s. Producers & Rf 83 w. Public Service 5s. Sinclair OIr 7s. Sin Crude Oil 54s. Sinclair Pipe Line 5s. Southern Bell Tel Sou Por Rico Sug Stand Ol of Calif | Steel & Tube 7s. { Tide Water Oll 6128 | Toledo Lzdison 1st 7s. Union Bag & P 6s. United Drug cv 8s. U S Rubber 1st rf 58. . U S Rubber 7%8. U S Steel sf b8, Utah Power & Lt &s. Va-Car Chemical - Va-Car Chem 7138 w. { Warner Sugar 7s. | ‘Western Union 6gs. . ‘Wickwire Spencer 7s. ‘Wilson & Co 1st 6s. ‘Wilson & Cocv 7% ‘Wilson & Co cv 65, ‘Winchester Ams 71 —_— WALL STREET NOTES. Special Dispatch to The Star. NEW YORK, January 30.—Advance of both hard and soft sugar prices 10 points to 6:60 today by the Warner Company was generally followed by other refineries. | ™ Standard 011 of New Jersey had ad- vanced its tank wagon price of gas- oline in North and South Carolina 1 cent a gallon. Ex-dividend today: Royal Dutch, {New York, shares: Shell Union Oi preferred; St. Louls and Southywe: | fern common and preferred; Tur- man Oil. N New York bank clearings. $790, 000,000; New York bank balances, $64,000,000; New York Federal Re- serve credits, $38.000.000; Boston bank clearings;,$59,000,000. SUGAR FUTURES HIGHER. NEW YORK. January 30.—There was more_activity in the local raw sugar market today, but'no change in Qquotations with Cubas quoted at 3 and 7-16 cost and freight, equal to 5.21 for centrifugal. There were sales of 125,000 bags of Cubas for first half February shipment and 45,000 bags prompt to local refiners. The in- cressed~demand in the spot market led to renewed activity in raw sugar futures and prices at midday showed dvanc f 7 to 9 pofn il GBS ~ g iliat mmommBEE scoaaressle Ballan cBoonsEakia Atchison gen 45 Atchlson adj 4 AtlanticCL 1 WHEWUEwoe », o 9 El 5 o £ () 2 R T 7821 ctfs. Canadian North 7s Canadian North 615 Canadian Pac deb Central Pacific 4s. Ches & Ohlo cv 5. Ches & Onio cv 41 Chi & Alton 3 e, Chi B& Q 1st 11 5 Chi & Fast 111 gn 5s. Chi Great West 4s. Chi M&StP rf 414 ChiM&S8tPevbs. ., Chi M & St P 45 1925 ChiM&StPcv4ln ChiM & St P 45 1934 Chi M & 8t P gn 4 %s. C M & Pug Sound 4s. Chi& NW7s ChiRysGs. ... Chi Un Station 41es. Chi Un Station 6 Chi & W Ind con 4s. CCC&StLrtGs A CCC&StLdb4ks.. Cleveland Term 5 CubaRRJs... Del & Hud 1st & rf 4 Del & Hudson 5 148 Den& RG st rf Gs. . Erle 18t con 4 Erie gen 4, Erieconv4sD...... Great North gen 7s Great North gen § % Havana ERL & P s 1l Central ref 4 111 Central 5%s. .. Inter Rap Trans! Inter R Transit Int & Gr Nor aj 6s. Kansas City Kansas City Sou 3. Kansas City Sou bs. . Kansas City Term Lake Shore 45 1931. . Lehigh Valley 63 Long Tsland ref 4s. Loufs & N unifled 4s. Louls & Nash 7 Louis & Nash 534s. .. Manhattan Ry cn 4s. Market St Ry cn 5. Mil El Ry & L 18t ! M & St Lref ext s St L 1strefds... P& SSM8s. & T 1st 4 &TprinisA |MK&Té6sC..... MK & Tadj Mo Pacific 6s. ... Mo Paclfic gn 4s. Montreal Tram 1st 58 Nassau E Ry 48 1957, N O Tex & Mex inc bs Y Central deb 6s Y Central deb 4s. Y Centralr i o t ew Haven deb 4s 57 New Haven 76...... New Haven 7s francs. NY State Ry 4% Norfolk & West cn orfolk & Weat cv 68 Northern Pacific Northern Pacific 6s.. Ore & Calif 18t 5s. Ore Short L ref 4s. Pennsylvania gen 8. Pennsyl gen 4 | Pennsylvania 613s. Pennsylvania gold Tennsyl con 4138 Pe -ia & East Inc 4s. Pere Marq 1st 5s. Reading gen 4s Rio Grande W clt StLIM&S4s'29... StL&SFprin4sA. StL&SFprint 5tL&S F inc 6 StL &S Fadj 6s StL&SF prinésC. San A & Ark Pass 4s, Seaboard A L 4s st Seaboard A L adj 58. Seaboard A L con 6s. Sou Pacific v 48. Sou Paciflc ref 4s. Sou Pacific cit 4s. Southern Ry 1st G Southern Ry gen 18, Southern Ry dev 6 Third Averef 4a. . Third Ave adJ 5 Union Pacific 1st 4 Un Pacific 1st ref 4 Union Pacific cv 48 Union Pacific ev Virginia Ry 1st 5 Western Maryland 4s Wheel & LE con 4s. . Wisconsin Ct gen {s. ilam... 1pm... 8216000 SHORT- Aluminum Co. of Amer, American America ‘Anacond: Anaconda Copper 7y 1 oil Tel. & Tel. 6a Grent Northern Hocking Val ie Of 5 enpa. R R. X St. Panl Union Depot & toebuck & Co. 7 T Union Tank Car Westinghouse E. September 1 4% March 15, 1 itls June 15, 4%n Decembe [ 4% March 1 4i{n Septemb | 4 13315 per cent, stockholders of was announced to RAILR Balen ,($1,000). High. Low, Closd. ew Haven cv deb 6s. N Y West & Bos 4148, Ore-Wash 1st ref ¢s. . Seaboard A Liref 4s. . 68 0ALS. 10 BKIRT 7'21 ct sta.. 29 Ches & Ohio gn 4145, . 1 1n Colo & Southern 4148 15 GrTrunk a fdeb 6s.. 45 104 1087 6 1003 Hudson & Man ref 5s. 1 Hudson & Man aj 5s.. 85 anlflnlmanBal L0l fewcaBaaBBanlEoSei=d Tove =i 2 2 22 2 a ‘ )1 1 Aluminum Co, of Amer. 7s 1925, 1034 T 1933, 1925, Copper 8 1029, Western Unifon 8148 1936, M. 7s — TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 995 9114 109! 109% i 27 57 6% 6% 'a Y% 9% 3% K TOTAL SALES (Par Value): 3226000 12 noon.. 5833000 —_— ZRM SECURITI (Quotations furnished by Redmond d& Ce.) ~—XNoon.—— Bid. Offer. 1084 1084 95 1021, =8 104 o 110 1088 ——Noon.——, Offer. #0 2932 100 100 100 3-32 99 15-16 100 1-32 9 13-16 100 L oy I 1018 1o 100816 ot 1018 105 9 15-16 100 110 5 -16 m‘o“'i‘u 100 11-16 #9316 99 13-16 100 116 KRESGE VOTES MELON. Chain Stores to Pay 33 1-3 Per Cent Stock Dividend March 1. | DETROIT, January 30.—A stock of' payable March 1 to cord February 15. day b; the 8. S. Kresge Company, operating a chain of general merchandise stores. FIRE LOSSES REDUCED. PHILADELPHIA, January 30 (Spe- clal).—Fire losses in this city in the last ear agi with 678, actua! Laites iClialn Bigi fires, egated 35,117,714, com- 6,495,200 in 1920. There Tnsurance 5% | "F‘INANCIA;... " " Live Stock WHOLESALE WARKET. A downward tendency in the &g market is indicated. Last week thé vrice of eggs dropped 2 cents a dozen. with a further reduction of 1 cent yesterday, making a drop of 3 cents the past few days. No such tendency is suggested in the condition of the butter market. Prices of butter remain high, and tho market is reported as being very strong. The meat market is steady. High prices prevail for live stock, but prices for dressed meats remain the same as last week. The market on lambs is easler. Receipts of ail meats are ample to meet demands. Eggs—Strictly fresh. selected candled . 38; average receipts, 3 southern, 36a37. Cold storage eggs, > Live poultry—Roosters. per Ib.. 18 turkeys, per Ib.. 30a35; spring chick ens, per 1b., 30a33; keats, young, cach. 60; fowls, each. 26a27. Dressed poultry—Fresh-killed spring chickens, per Ib., 33a3s; hens, per lb.. 28a30; roosters, per Ib., 17a18; turkeys, per,Ib. 36ad0; keats, youns. each, Live stock—Calves, choice, per 1D 14; medium, per Ib., 13a13%; thin, per . Lambs, choice, per 1b. 1 live pigs, 3.00a8.00 each; live hoE®. p!l’clh 9. en fruits—Apples, per bbl, 176 87.00; Deliclous, No. 1. per bbL., 6.00 oranges, per crate. 4.0025.00. Lemons. Grapefrult, 3.008 Tangerines, 3.50a4. Vegstables—Potatoes, per per sack, 2.00a2.2 Sweet _potatocs, 75a1.50; nearby, 2.0 per crate, southern, 1 Romaine lettuce, per crate, 1.50a Iceberg lettuce, per crate, 4.75a .00, Cabbage, northern, 1.75a2.00 per 100 1bs.; nearby cabbage, per bbl. J southern, 2.25a2.50 per baskeL. Eggplants, per crate, 250a5.00. Toma- ettuce, i3.00. % | toes, per box, Florida, 2.50a5.00. Beans, 2.0024.00 per basket. Peas, 3.00a5.00 per basket. Peppers, per crate, 3.0084.00. Kale, per barrel. Spinach, per barrel, 2.00a3.00. Brussels eprouf BALTIMOR] —Potatoes, 150 1bs., 90a2 ects, barrel. 5: bushel, 35a85; yams, barrel, 1.50a2.00; bushel, 50a75. Beans, bushel, £.50a3.75. Beets, bushel, 76a 85. Brocoli. bushel, 35a40. Brussels sprouts. quart, 20a25. Cabbage, crate, 3.50a5.00. Savoy, bushel, 1.00. Car- rots, basket, 0260, “aulifiower, crate, 1.75al.85. Celery, crate, 2.00a 3.50. Cucumbers, crate, 3.50a7.00. Eggplants, crate. 4.00a6.00. Horse- i raidsh bushel | bushel. 55a40. 3.50. Onlon Oysterplants, hundred, 5.00a7.00. Par nips, bushel. 1.2541.30. Peas, bushel, 2.5023.75. Peppers. crate, 1.50a3.50. Spinach. bushel, 1.15a1.25. crate, 2.30a3.00. Tomatoes, crate, 2 25.50. Turnips, bushel. 50a60. Apples, pucked, barrel, 2.00a5.00; bushel, 30al.30; laose, hundred, 1.50a 1.90: basket. 40al Cranberries, barrel, $.00a12.00. Grapefruit. box, 3.00a4. Oranges box 3.50a4.00. Strawberries, quart, Tanger- ines, half strap, 2.00aZ. Selling Prices at 12130, Wheat—No. 1 red winter, spot, no ! quotation No. red winter, spot, 1.33%. nominal; No. 3 red winter, spot, inc quotations: No. 2 red winter, gar- il Y%. nominal: 3 red 100 No. 3 cky, no quotations; Jan- Corn—Cob corn, new, 4.85 per bar- rel; contract, spot. No. 2 corn, spot, §3%: No. 4. no quo- tations; track corn, yelow, No. 3, new or_better, 5. Rye— 2 western expor't, spot, 98 per bushel; iNo. 3. no_quotations | Hay—Recelpts, 32 tons; for the bet- er descriptions of timothy and light {there was a falr demand under lim- jited receipts at a range of 17.00 to| 15.00a 121.00 per ton. i Straw—No. 1 tangled rye. 16.00; No. 1 wheat, 11.00a12.00; No. 1 oat, nominal. 12.00413.00. TODAY’S CHICAGO PRICES. CHICAGO, January 30.—Buying based more or less on warlike as- pects_of European developments led to a little higher prices in the wheat market today during the early deal- lings. On the upturns. however, rather free selling took place. Bears put stress chiefly on what were re- ferred ta as the tremendous stock: { of Canadian wheat in bond in this | country. The cpening. which ranged ffrom 1§ cent off to a th May. 116%, to 1167, and July. was followed by a general ad- interrupted by a slight tem- porary setback. 2 Continued drought in Argentina gave strength to the corn market and to oats as well. _After opening, !¢ to % higher, May, 72% to 72%, corn held firm at around initial top figures. Oats started a shade to i3al, up May, 43%ad4, to 44, and later scored islight further gains. Higher quotations on hogs gave a 1ft to the provision market. WHEAT— Open. THigh, Tow. Close. iMay . 1.16% 1.17% 118 1. Julx Tilg 1126y 111y Lizig 1083 1.10% 109 1.10 D ids il Diiee diiE DAIRY PRODUCTS. BALTIMORE, January 30 —Live poultry—Turkeys, F old toms, 3; poor and creoked breasts, 25. Young chickens. poor and Ieghorns, 20a2 23a26; small and leghorns, 20a22; roomters, 16. Ducks, 20a28. Geese, j17a25. Pigeons. pair, 30a35. Guinea fowl. each, 40a60, Dressed poultry—Turkeys, 1b. 35a 40: old toms, 30; poor and crooked breasts, 25. Young chickens, 26a27; old and mixed. 24a26; old roosters. 17. Ducks, 25a30. Geese, 20a25. Ca- pons, 25a36; medium, 33a34; small slips, 28a30. 1b.. Figgs (loss off)—Native and nearby | firsts, doz., southern, 35. Butter—Creamery, fancy, 52: prints, 52a3é: nearb: eamer: 44245; ladle, 35a86: rolls, 33a35; da prints, 34a35; store-packed, 33! proc- less butter, 42a43. b, 5la CHICAGO LIVE STOCK MARKET. CHICAGO. January 30. (United States Department of Agriculture) — Hogs—Receipts, 30,000 head : early mar- Xet, 15 to 26 cents higher; later, slow bulk, 150 to 200 pound averages, 8 23.80; top, 8:80; bulk 210 to 230 pound butchers, 8.45a8.6: 240 to 300 pound butchers, 8. weighty Dbacking sows, around 7.25: desirable Digs, 8.10a8.65: heavy-weight hogs, 8.20a8.40; medium, $.3548.75: light, 5.80a8.50: 1ght 1ights, 8.60a8.80; pack- ing sows, smooth, 7.25a7.60; packing ught, 7.00a7.30; kiliing pigs, 8.15a8 Cattie—Receipts, 10,000 head; slow, ifew early sales beef steers, beef cows and heifers about steady; ten- dency weak to lower on these,cla: early top matured steers, 11.00; bulk beef steers of qualily and condition to sell at £.2529.50; otber killing classes, large- steady; heavy beef bulls slow, weak; stockers and_feeders, slow. Shesp—Receipts, 17.000 head; fair- 1y active: killing classes generally steady; early top fat lambs, 15.15 to city butchers; some held higher; clip- ped lambs, mostly 13.50, with heavics out -at 11.00; cholce, 93-pound fed yearling wethers, 13.00; clipped 95- pound vearlings, 10.50; two loads de- sirable 125-pound ewes, 7.50; feeders, 25¢ higher: about %000 chotce feeding wnd sheasing iamios 833 per bushel;| edrby. 85095 per bushel; No. i like advance, | i Ihas caused ITRADE BOOM SEEN | INTS-CENT COPPER Margin of Profit Outlook Best ! Since 1920—Good Demand Also Noted. BY J. C. ROY Special Disatch to The Star, NEW YORK, January 30.—The ad- vance in the price of copper here tq 15 cents a pound, delivered, will mean a decided widening of the margin of profit to producers, according to min- ing experts here and in the west t {day. The larger portion of Americun | copper g is produced from low -grads ores mined and treated in large vol- ume at low cost. Onece the “pay point 16 reached —that is, the point when the selling price excesds the cost of pro- duction—each unit of price advance represents a practically equal in- crease in net income. Dispatches from Butte, Arizona and upper today indicate that ‘?onp;»r'hm'uxs;: costs have been pretty well stabilized Miners' wages had their advance ) the summer and fall of last vear. So | far as could be learned todav no fur- ther advances are contemplated ut this time. Mine timbers and other supplies have advanced in comt, hut experts indlcated their belfef that these increases would be more @ an counterbalanced by Increased voly of production, stimulated by the 2 vance in price. d Chance to Increase Output. Many of the large producers are Tunning below capacity. The Mich- igan mines have not gotten into full swing. The Utah Copper Compan:'s plants are not operating at anvwhers near capacity, and, while 15,000 men j#re reported on the Butte pay rolls the Montana output is capable of jarge increases. In all these cas. Increased volume of production mear < a decreased overhead expense per ton and a consequent wider margi of_profit The statistical position of the red metal is excellent, dus to demar from domestic consumers, which h been stimulated by the tremendousy programs for building constructin The export shipments to Germ have dropped off owing to the Eu pean crisie, but the tonnage recent absorbed Dy Ttaly and Great Brit has been excellent and the sto tagged for export have been ma rially reduced & fact that bi roducers i a holding for 151, ('!nli lppnund for de- liveries up to June brought pred tlons of further price advances in 11 etal. now at the highest point st October. 1920, but the more consarra. tive indicated that they expected an: advances to be graduai. Ther pnint to the fact that for the last ten ves over 50 per cent of America’s copp production has found a marke abroad and that world conditions ar to say the least. unsett]e, Woolen Order Books Clomed. Withdrawal of additional lines f the fall offerings of the Ame Woolen Company Is expected to f the announcen that Salt Lake City, i8 understood the leading interest c have booked poiret twilla to allotted mill capacity scveral times over had it cared to do 0 and pile and sheen fab- rics also sold remarkably well. Repricing by other manufacturers expected as a result of the trend of t £00ds market, and position of raw wor jhas been materially strengthened by | thess factors and the firmness of tia { foreign markets. Lumber dealers are showing a desirs to cover spring requirements now tu forestall any' possible advances in pri ater. Steel Industry Is Helped By Coal Wage Agreement | Bpecial Dispatch to The Star. PITTSBURGH, January 30.—A | continued run in the steel industry w jbe assured by agreements between co miners and “operators, which are e:- {pected to take place at a serfes nf meetings this week. The Pennsylvania operators did not attend the wage con. ferences of the miners and operators of the central competitive fleid in N York. but it is generally conceded tod: I that each will accept the same bast | settlement reached at the New Yor | meeting. This will mean continuatior vork for a vear from April 1 | pra 11y the present scale. With an adequate fuel supply in s and order hooks justifying higher axc | ARe operations. steel production wi (limited only by the supply of avalla labor. EFreight Car Loadings Are ! Gaining in the Northwest Special Disputeh to The Star. ST. PAUL, January 30.—Loggins operations in northern Minnesota and Wisconsin have been retarded by rec- cent heavy snows, but the check will be only temporary. Agricultural ex- perts declare the snows have been worth millfons of dollars to the north west from a crop viewpolnt. Some exposed grain has been injured, hot - ever, and marketing has been slowcu sligntly. Freight loadings for January have exoceeded those of a year ago by per cent and are running 10 per cent above loadings for last month. Em- ployment is better at present than in fany winter for many years. (Copyright, 1923.) 1195,000 GERMAN MARKS | TO POUND STERLING By the Ansociated Press. LONDON. January 30.—The tension in the Ruhr during the past few da: s ircreased uneasiness 1 |the forelgn exchange market, whe-o | continental currencies are dally do- {preciating. Thi the aterling. frane sold 76.05 and the Italian lira at 987, T dollar rate was comparatively stea hovering around 1.6 EX-DIVIDEND TABLE. Fehroary 1 Burns Bros. A, q Buras Bros Burns Bros. B, q._. . Chicago, Rt Paul, Mion. & Gmabs. Chi. Bt. P.. Minn. & Omaha ». Fifth Ave. Bus.... 5 Iron Prodiets pii. q Keliy Springfield Tire 8¢, Minmy Covper. o Pennarivauia Ra 8 Pittsburgh & W. Virginis pfd. Superior Steel 15t pfd, q. Superior Steel 2d pfd. 4. ebruars Tiiinois Centri Tilinais €4 Tnion Tank Febru Central Railroad of New Jerser. q... —_— DIVIDENDS. Ktock of Tpey. Service Co. Am. Tueu. Service Co. 3d pf., June 9 & Lightin s Bbe .i.... ConnecticutRy. 5. & Lightin . . 'Jln. Co., g.. 1%%. Connecticut Ry C 1% f. ! Dibertt & Myers'a 3.0 ge! Iyers, q., 3 . Mass. Cotton Mills q.. $3. Nat. !Ilp“l’ Co.. ., 1 Pittsburgh Plate Glas 307, stoel . B e o Tawja Elec