Evening Star Newspaper, February 13, 1923, Page 24

F WLD PREE NS N STOCK MARKET Speculative Enthusiasm at Highest Pitch of Season. Sugars Again Lead. BY STUART P. WES Special Dispatch to The Star. NEW YORK, February 13.—Today's market saw speculative enthusiasm at st pitch of the season. An accumulation of buying orders over tho holidays, a large part coming from the outside public, swept prices forward at the openiug. Subsequent- ly some of these gains were lost, but in many other instances they were increased as the session went on, and this in the face of very heavy profit- taking sales by the pools and the pro- fessional clement generally. A jump of nearly « cent in the price of Taw sugar to 51 a pound aroused a fresh wave of excitement in the sugar atocks. All of these moved forward another % to 4 points. Cuba Cane Sugar preferred was up over 17 points from where it was selling only a week ago, Punta Alegre 11 points, American Beet Sugar 10 and Cuban Amevican Sugar 10. South Porto Rico Sugar, which has the special advantage of escaping the duty which the Cuban producers hav to pay, was up 20 points from where it started a week &go. Independent Steels Strong. Next to the sugars the independent steels were today the most prominent. Republic Iron and Steel w the lead- er, 11 feeling the effect of its ve- markable showing during the fourth quarter of 1922, when earnings at the annual rate of nearly $10 a share were reported. This was before the big in- crease steel prices which has come since the first of the new year. Baldwin Locomotive made a new high for the present movement and so did Lima. following the statement made officially that not since figures of railway buying had begun to be compiled have orders for locomotives been as large as they are at present. The markets today took the view that the European situation, while it might not have improved, had cer- tainly grown no worse over the two- day recess, and that therefore there was nothing to interfere with con- tinued discounting of the favorable features of the trade situation at home. Production statistics. the further tendency toward rising prices in the principal_industrial lines, predictions of greatly enlarged earnings begin- ning with the first quarter of the year and leading to a larger distribution of dividends—these were the motives back of the eager buying movement in the stock market. French Francs Weak. Insofar as the day's markets had sny opjnion to express about for- elgn affairs the expression was con- fined to the exchange market. French francs turned definitely weak again They lost fully half the entire re- OV of last week and were down within little more than a quarter of a cent of extreme low of a fort- night ago. This was a perfectly clear reflection of the judgment in financlal cirel first _that the French cam paign_in the Ru from the standpoint of collecting anything like full repar- ations has %o far been a failure and gecond that the ultimate ablity to force Germany into paying enough to cover the huge deflcit in the French budget is extremey doubtful. Sterling displayed the same indif- ference to the movement of continen- tal rates that it has all along. It was off only slighty from its high record since 1919—the figure of $4.69 reached in December, 1922. Public Buying Stocks. Nothing that occurred in any of the markets of the day approached t the dealings on the stock There was no disputing that the public was in the in other worc Wall street svndicates and pro- sional operations had obtained the goal which they had been striving for for the last two months. That this campaign will eventually lead to th: same excess as the ull movement” of last August and September may safely be predicted. The difference in favor of the present market is that the business revival which. six months ago, had only begun 1o get under way. has now eventuated into a state of something like real pros- perity. The main thing still is not the e in the industrial output, but return to profitable price levels, iz the el of strength which ituation of summer lacked opening sa North American on today > 4 points above ay's final w set down as re- umulation of buying orders ¢ market over the week e The Atock continued active at its high price, in_ anticipation of favorable dividend action at the forthcoming meeting, to be held within a fortnight. The form the expected increased return will take is still a matter of conjecture. Sugars Off Point at Close. Sugar shares came down a point or more in the final hour and there was some reaction in other stocks which had had a rapid advance early in_the day. The favorable outlook indicated by the activity in the bufld- ing industry was responsible for the rise in the International Cement across 40 for the first time. FRST ORDER IS ISSUED FORENGINE INSPEGTION Rr the Asso N on order issued by E. Foster Lancaster reccivers rzilroad, Fact February 13.—An Federal Judge Rufus vesterday requiring J. L. and Charles L. Wallace, of the Texas and Pacific to cause to be made “all proper inspection and repair of each locomotive in their possession.” was expected to be served on the re- The order the federal court followed a month's investigation into the condition of otiv - Iriday, at which evidence sented to the court by John . speclal assistant to At- torney General Dauvgherty. It wase declared that this was the first case of the kind brought under the locomotive inspection act of Feb- ruary 17. 1911, and the rules and regulat ot the commerce com- misison in regard to pro - tion of locomotives. ~ ' o nspec from BALTIMORE LIVE STOCK. RALTIMORE, February ts for the week at Union mont. “were about week's. Yesterday : s slow. with prices ubout steady on all kinds of cattle, Sheep and lamb receipts for the past week were one-half again as large s the previous week's. Hog receipts were also 4,000 head higher. Cattle—Receipts for the week ended noon yesterday were 2,301 head, against 2,226 head last week; 77 car loads for market for the week: steers, choice, 9.2529.50: good butcher, 8.50a medium, 7.50a8.25; common, 6.25 25; heifers. choice, fair 0: common to medium, ad choice, 5.25a5.95: fair to good. 4.50a5.00; common to medi- um, 3.50ad. choice, 5.0045.25; fair to good. 4.00a4.50; common to medium. ~ 2.00a3.50; Maryland and Pennsylvania cows generally $1 Jow- er than above quotations. heep and lambs—Receipts for_ the ek ended noon vesterday wers 2,012 h against 1.343 head last week; 1i; supply; markei steady, she 3 5out 52 Sarivg Eosian ¢ —Cattle INANCIAL. THE EVENING BTAR, WA’SH’INGTO'N’. T. O, TUESDAY, FEBRUARY 13, 1923. mBONDS STOCK EXCHANG! Received by Private Wire Direct to The Star Office For Revised Close of Stock Market see 5:30 Edition of The Evening Star. Adams Express. Adv Rumley. ... Air Reduction Ajax Rubber. . .. Allied Chemical. Allis Chalmers. . Am Agr Chem AmAgrChempt. Am Beet Sugar.. Am Beet Sg pf.. Am Bosch. . Am Brake Shoe. Am Brk Shoe pf. AmCan.oio 0 AmCanpf...". Am Car & Fdy.. Am Chicle Co. .. Am Cotton Oil. AmCotton Oil pf. Am Druggist. Am Express. ... Am Hide&Leath AmHlde&Lea pf. Am Ice. .. . Am Internat'] Am La France. . Am Linseed Am Linseed pf Am Locomotive. Am Metals. Am Roll Mill pf. Am Safe Razor Am Ship & Com. Am Smelting.... Am Smelting pf. AmSnuff. ... Am Steel Fdy . Am Sugar. Am Sugar pf. Am Sumatra. Am Sumatra pf. Am Tel & Teleg. Am Tobacco. ... . Am Tobacco (B) Am Tobac pf (n) Am Water Wks. AmW Wk 6% pf. Am W Wk 7% pf Am Woolen Am Writ Prpf.. Am Zinc & Lead. Anaconda...... Ann Arbor pf Asso Dry Goo AssoDryG st pf Assoclated Ofl. Atchison. ... Atchison pf. ... Atlan Bir & Atl. Atlan Cst Line. . Atlantic Fruit. . Atlantic Gulf. Atlantic Gulf pf. Atl Refining pf. Atlas Tack..... Austin Nichols Auto Sales pf. Baldwin Loco. . Balto & Ohio. Balto & Ohio pf. *Bank of Com. . Barnesdall (A). Beechnut Pack. Beth Steel. . Beth Steel (B). Beth Stl 7% (n) . Beth Steel 8% pf Booth Fisheries. Br Em Stl 1st pf. i Bklyn Edison Brooklyn Ed rts Bklyn Rap Tran BKlyn R Trctfs. Bklyn Un Gas. . Brown Shoe. .. . Burns Bros (A). Burns Bros (B). Butte Copper. . . Butte&Superior. Butterick Caddo Oil....... California Pack. Calit Petrol.. . Calif Petrol pf.. Callahan Zinc. . Canad'n Pacific.. Carson HillGold Central Leather Central Leath pf Cerro de Pasco. . Certain-Teed. .. Chandler Motor. Chesap & Ohio.. Ches & Opfwi. Chi & Alton.... Chi & Alton pf.. Chi & East 111 Chi Great West. i Chi Great W pf. Chi Mil&StP.. ChiMi1 & StPpf. Chi & Northwn. Chi & Nwn pf Chi Pheu Tool. . ChiRI& Pacific Chi R 1&P 6% pf ChiRI & P7%pf ChiStP M &Om Chile Copper. ... Chino Copper-. ... CCC & St Louls Cluett Peabody i Coca-Cola...... i Comp Tabulator {Colo Fuel Colo & Southern Columbia Gas. . Columb’a Graph Com Solvents A. Cons Cigar. Cons Cigar p! Consol Gai Cons Textil Cont Can. Cont Insurance. Continental Mot Corn Products. Corn Prod pf. Cosden & Co. Cructble Steel.. Cuban-Am Sug. Cub Am Sug pf.. Cub Cane Sugar. Cuba Cane Spf. Davidson Chem. De Beers. .. . Del & Hudson D Lack & Wstn. Detroit Edison. . Dome Mines.... DuSS& Altpf. Dupont (ET)... Dupont deb. Sastman Kodak Elec Stor Ba Elk Horn Coal. . Emerson-Brant. Endicott-John. . Endicott-Jno pf Erie. . Eriel . FamousPla; Famous Play pf. Fairbanks Co Fed Mines & Sm. Fd Mines & Spf. Fidelity FireIns FifthAvBusw i. Fisher Body.... Fisher B of O pf Fisk Rubber. Freeport Tex: Gen Am Tk Car. Gen Asphalt. Gen Baking. Gen Cigar Gen Electrie. . Gen Elec spl w Gen Motors. .. Gen Mot 6% deb. Gen Mot 7% deb. Gimbel Bros. ... Gimbel Bros pf. Glidden. Goldwin Goodrich. .ee Granby Consel Gray & Davis, Gt Northern pf. Great Nor Ore. . Greene-Canane Gt Su pf.. Guantanamo Su. Gult Mo & Noi Gulf Mo & Nerpf Gulf St Steel.... ‘Harbishaw Cab. Hartman Corp Hendee Mfg. TD. Hupp Motors. .. Aydraulic Steel. iliinois Central. Indian Refinin| Interbor RapTr. Open. 1% 18% 62% 14% 1% 48% 334 62% 48 K 394 High. 78 18% 624 14% 7% 49% 33% 62% 494 79 » 1014 1% ) 37% 26 184 78% Low. Close. | © 109 48% 101% 104 184% 121% B55% 80 34% 3 18% 625 ! 14% TT% aon | 33% 62% a8 79 | 4015 82% 89% 113% 186% 7 18 35% 7 189% 12 70 110 29 11% 33% 56 1273 37 82 €5% 14 48% 102 10% 135% 121% [ 80% 86% 102 19% 59% 3215 244 1221 129% . 108% 42% G 101% ¢ 1 64 37 26 13 8% 344 27% 105% 18% 17 1% 2% 1% Interborough pt {1n AgaChemical In Ag Chem pf.. Int Cement. .. InCombustion B Int Harvester. .. Int Mer Marine. Int M Marine pf. Int Nickel. ... Int Nickel pf Intl Paper Int Shoe B Invincible Oil. .. Iron Products. Island Oil. Jewel Tea. ... Jewel Tea pf. Jones Tea... ... Jones & L'ghl pf Kansas City Sou Kansas & Gulf. . Kayser (Julius) Kelly-Spr Tire. . Kelsey Wheel. Kennecott. . Keystone Tire Kresge (S §) .clede Gas Lake Erie & W. Lee T & Rubber. Lehigh Valley. Liggett & Myers Lig & Myer: Lima Locomo. .. Loews In Loft Inc. . & Lorillard (P). Louis & Nash Mack Trucks. .. iack Truck 1st. Mackay Cos pf. . Macy Co...... Magma Copper. Mallison & Co. Manati Sugar Manati Sug: Manhattan Manhattan Market St Ry Market St pf. Market St prior Marland Oil. . Martin-Parry Mathison Alkili. Maxwell (A). Maxwell (B). May Dept Stores McIntyre Porcu. Mex Seaboard Mex Sbd ctfs. Miami Copper. . Middle St Oil Midvale Steel. .. Minn & StL (n). Min St P&SS M M St P & SSM pf Mo, K& T (old). Mo, K& Twi Mo, K & T pf wi. Mo Pacific. ... Mo Pacific pf. . Montana Power Montgom'y W'rd Moon Motors Mother Lode Nash Moto: Yash Motor atl Biscuit w i tl Conduit. atl Enameling atl Lead. .. atl Lead pf atl Ry of M 2d. evada Copper. Or Tex & Mex. Y Air Brake. Y Air Brk (A) N Y Central. NYC&StL2 Y Dock pf. ... YNH& Hartfd. NY O & Western Norfolk & West. North American North Amer pf.. orth Paciflc. .. Now.Scotia Steel Ohio Bdy & Blw. Oklahoma Prod. Orpheum Circuit Otis Elevator. a. | Otis Steel Otis Steel pt. Owens Bottle Pacific Develo Pacific Gas & Facific Oil. . Packard Motor. Pan-Am Pete. .. Pan:Am Pet (B) Pennsylvania. .. Penn Seabd Stl. People’s Gas. . ... Pero Marquette. Pere Mrq prpf. . Philadelphia Co. Philadel Copf. . Phillips Pete Plerce-Arrow Pierce-Arrow pf Pierce Oil. Piggly-Wiggly Pitts Coal. . Pitts & W Va Pitts & W Va pf Pond Creck Coal Porto Rico Tob. Postum Cereal. . Postum Cer pf.. Pressed Stl Car. Producers& Ref, Pub ServofNJ. PubBervpf..... PullmanCo..... Punta Alegr PureOfl... Raflway Stl Spr. Ray Con Copper. Reading........ Reading 1st pf.. Reading 2d pf Reis Robert. Remington..... Reming 1st pf .. Reming 2d pf... Replogle Steel . . Rep Ir & Steel Rep Ir & Stipf.. Reynolds Spring Reynolds Sprrts. Rey Tobac (B).. Rey Tobpf B... Royal Dutch. ... Rutland Ry pf. . St Joseph Lead. . St L & San Sran. St L & San Sr pf. St L Southwn... St L Southwn pf San Cecilia Sug. Savage Arms. .. Seaboard Alr L. Seaboard A L pf Sears Roebuck. . Sears Roebk pf. Seneca Copper. . Shattuek-Ariz. . Shell Tr & Tran. Shell Union. .. Simms Petrol Sinclair Oil. Sinclair pf Skelly Ofl...... Sloss-Sheffield. . 8o Porto Suga! South Pacific. Southern Rwy.. Southern Ry pf. Spicer Mfg Co Stand Milling 8t Oil of Calif. .. StOllof NJwi. SLOfl1of N J pf.. Steel & Tube pf. Sterling Prod. .. Stew't-Warner. Stromberg Carb. Studebaker. Submarine Boat Superior Oil Superior Steel. . Tenn Copper. Texas Company. Tex Gt Sulphur. Texas & Pacific. Tex & P C&OIl. . ‘Third Avenue Tide Water Oi Timken Bearing ‘Tobacce Prod. .. Tobacco Prod A. Open. High. % % 9% 9% 38 56 885, 408 24% 25% 97 107 44u 14% s 56 66% 17% 47 1y 18% 74 56l 107% 23% 43% 54 1104 30% 701y 1758, 1411, T2im 941y 70 6814 30 60 48%, 1612 727 19% 19 17% 27y 11 29% 9y 907, 11 167 445, 19 48% 131% . 114 3, 16 92 341 508 9613 86 47 214 214 17 17 48 79 293, 9% 3 19% . 149 101 587 63 64 39 91 428 65 133 114% 69% 52 100% 107 131% 114% 14% 80 56 B5 16% 45% 104 873 287 92 22 59 18 51% 35 19% 25%% 48% 35% 611 5 24 ™ 12% 913 1374 5 35l 12 49 €1% 25 28% 18% 129% 3T 56% 824 Tobacco Prod pf. 109% ‘Tol St L& W pf. Trans Contl.Oii. Union Oil. ... Union Pacific. Unlon Pi me‘Bl’ Casy- 820 Bliy-—Sdbe. 53 114 % % 141% 142 e 5% Low. 93% 331 69% 22% 87 59% 40% 117% 1043 58% 95 68 5 119% 12% 5% 32 12 48% 61% 24% 28% 18% 129% ST% 55% 8214 109'% 53 1% 1408 5% NEW YORK STOCK EXCHANGE Close. % 40% 24% 191 25% 48% 35% 617 4% 25 % 13 92 112 9 ) 16 141 33% 984% 93% 38% 695 23% 87 59% 41% 117% 105 59 9% 68 119% 12% 6 32 12 48% 61% 24% 24% 18% 129% 37% 56% 82% 113 53 12 1‘19; 5% (UPTURN IN STOCKS | ALSO HELPS BONDS Buying Spreads to Issues Leading in Advances on Big Board. BY GEORGE T. HUGHES. Special Dispatch to The Star. EW YORK, February 13.—There appeared to be something in the na- ture of an overflowing of speculation today from stocks into the bond mar- ket. With sugar, copper and railroad shares fairly buoyant it was logical that the bonds of similar companies should have been in demand, as the whole movement is based on earnings for the current year. The recovery in sugar has heen phenomenal. with the price of raw sugar over double of a year or %o ago, sugar stocks showing in some in- stances 200 to 300 per cent gains. The premium on Anaconda Copper {debenture 7s was increased to 234 I points, while the first consolidated 6s of this company showed a premium i, point over the issue price. The {inquiry for high-grade industrial and public utility stocks showed indica- tions of u broadening investment market. The Turkish situation was less jtense and therefore foreign govern- ment bonds improved. South Ameri- can bonds have been improving also, Liberty loans were firmer. Ruilroad bonds were strong N the second grude and speculative issues in sym. pathy with railroad stocks. The con- vertible and adjustment issues were mainly sought for. ere was i very sa L, ion to the $20.004 Sinclair Crude Oil Purchasing Com- pany three vear 6 per cent notes, which were brought out at 99. VIOLENT ADVANGES INSUGAR MARKET | Futures Jump 100 Points in Some Cases—Maximum Al- lowed in One Day’s Trading. isfactory sub- 000 issue of By the Associated Press NEW YORK. February | trading and violent place in the sugar Futures jumped at some cases as The maxim 13.—Ex advances took market today. the opening in much as 100 points m fluctuations permitted Ly the exchange in one day's trading. May sold at 5.61: July at 5.82, and September at 5.19: all reporting 100 points advance from the close of Sat- urday. This unusual ited jump was influenced largely by the Mejer-Guma estimate, placing the Cuban crop at only 3.800,000 tons, or almost 400.000 tons below the previous estimate in De- cember. This estimate was in line with recent statistics published by the Department of Commerce, which made the estimated needs for the present year 725,000 tons above production. The spot market also jumped vio- lently, operators bidding 5% for Cuba, cost and freight, without success. The refined market also was much con- fused and prices were more or less nominal. COTTON PREES STROR N TODAYS TRADIG Strength in Liverpool Factor in New York Market—Heavy Rain in South. Ry the Associated Pross NEW YORK, February 13.—The cot- ton market opened steady at an ad- vance of 7 to 14 points. This was not a full response to the overholiday strength of Liverpool. and there ap- peared to be considerable selling for Wall street and southern account. These early offerings were readily absorbed, however, by commission house and scattered trade buying, and prices soon worked up to 28.40 for May and 25.38 for October, or about 10 to 15 points net higher. Private cables said the strength in Liverpool was due to moderate trade calling and light offerings. Houses with Liverpool connections were buy- ers here at the opening, probably on the differences, and overheliday re- ports of a firm spot situation were reflected by the relatively firm ruling of March contracts. The weather map showed considerabie rain in the south, with precipitation heavy in parts of Mississippi and Georgia. Cotton futures opened steady. March, $: May. 28.30; Jul 78; October, Tn Alloy Steel. . Un Cigar Stores United Drug. . . - United Drug 1st United Fruit. . United Ry Inv Utd Ry Inv pf... Unit Retail Strs st Ir Pipe U S CastIr Ppf. 1[.’8!"00:1 Prod. . i 220 83 4613 170% 16% 401 76 3214 7 47 2213 693, 98% 94y 104 61% 4 102% 38% 1077 69 66 22% 39% 241 15% 547 19% 14 31 20 12% 220 81% 46% 166 151 36% 74% 321 71 4% 21 68 981% 94 104 603, 102% Hoffman Mct S Indus Alco. . U S Ind Alco pf. US Realty. . TS Realty pf. Rubber. 7S Rub 1st pf © S Smelt & Ref TS Steel. . S Tobacco. { Utan Copper-. ... ) Utah Securities. Vanadium Corp. Va-Cr Chemical. Chem (B). Va Ir Coal & C Vivadou.......- Wabash. ‘Wabash pf (3). Wabash pf (B). Web & Heilbrn. Wells-Far Exp. Western Elec pf Western Md. Western Md 2d. Western Pacific. ‘Western Pac pf. ‘Western Union. {West Air Brke. . Westhse El & M. Wheeling & L E Wheel & LE pf. White Eagle Oil White Motor.... ‘White Oil.. Wickwire.... Wilson Co. Willys-Overid Will's-Overld pf Wisconsin Cent. ‘Woolworth. ‘Worthington. s 85 Wright Aero 9 Youngstn Tube. 78 78 *0dd lot. 19 28% 53% 5% 14 41y 8 49% 48% 83 31% 223 219% 347 9 R k3 High. Low. Lasi, Call Money..... 5l A4 by HOURLY SALES OF STOCKS. 11am....386900 12m....... T11100 L PDeamae 349500 2 PDineansl 159 500 ! l { Toledo Ed'n 1st Ts. Recelved by Private Wire Direct to The Star Office. For Revised Close qf Bond Market see 5:39 Edition of The Evening Star. (Bales are in $1,000.) UNITED STATES BONDS. Bales. High. Low. Lib 3%s... 303 10190 10176 L1b 24 4 . 11 9870 9870 Lib ist 43s. 40 9896 9888 Lib2d 4%s... 311 9884 9970 Lib3d 4%s... 301 9914 9900 Lib4th 43%s... 698 9898 9880 Victory 4%s.. 49 10020 100 20 US4%s1952.. 201 10004 100 00 FOREIGN. Sules. High. 96 1017% 18 100 20 99 20 112 25 92 3 76% 32 85 27 9Th 17 103 . 19 100% . 29 102 101 9915 10814 101% 103% 51%a 90% 99% 86% 109 97ia 9514 948, 89 96'4 92! 96 90% 9214 81 7874 7613 7613 53% 3415 89 100% Close. 101 90 8170 98 90 98 80 9910 98 98 100 20 100 00 Close. 101% 99% 99 112 9214 76 85 9715 103 100% 101% 101 99% 103% 101% 10813 51% 90% 99% 85 109 9714 9514 94% Low, 1011 997 9813 112 91% k(] 8413 97 102% 100%a 101% 100% 99% 10312 1011 108 51% 90 99% 85 109 9678 95 94%% 89 95% 92 957 90% 92% 80% 8% 5% T5% B52% 333 89 99% 111% Argenti Belgium Belgium 8s Bern §s. Bolivia8s. ... Bordeaux 6s. Brazil 7s.. Brazilgs. ... Brazil T%s. . Canada 55 1926 Canada 53s 1929 Canada 58 1931. Canada 5 1952 Chile 85 1946 Chile 851926 .. Chile 8s 1941 . Chinese Gov Ry 5 Copenhagen 5';s. . Cubablzs wi..... Czechoslovakia 8s. 1 Denmark i Denmark 6s....... 68 Dutch East I 63°47 164 Dutch East I 65 '62195 FramericanID 715 12 French Govt §s.... 60 French Govt 7 81 Haiti 6x ctfs . 20 Holland-Am s f 6s. Japanese 2d 415 Japanese is.. Jergen U M 6 Lyons6s. ... Marsellles 6s. Mexico 5s. Mexico 4s. Montevide e 'S QaGna=Ba=Ta 1 4 T15 Queensland . Riode Jan 8s 1946 io de Jan 8s 1947 ao Paulo, City. & Sao Paulo,State, §3 Seine, Dept of, Serbs CrotsS Soissons 6s. Sweden 6. ... SwissConfed sf8s. Tokio 5s...... Ud King'm 5138 Ud King'm s UnSteam Copen 6= Uruguay 8= Zurich . MISCELLANEOUS. Ajax Rubber 8= 19! AmAgrChem Tlz3s 4 Am Cotton Oil 5s.. 3 AmSmelt&R Istss. 17 Am Sugar Ref 6x. . AmT& Tev 6s. AMT& Tl tr5s. AmT&Tecltrd Anacon cvd 7s wi. Anacon 1st b= w i Armour & Co 41 Atlantic Refin Bell Tele P; Bell Tele Pa Bethleh'm Stl rf 5s Beth'm Stl p m Is. 8s. I Beth'm St s f 65 Brier HSt 1st 5.5 Bklyn Edison 7s D. Bklyn Ed gen 5 Bush T Bldg 55 '60 Central Leather 53 Cerro de Pasco §s. Chile Copper 6: “hile Copper CinG&E5%s" Comp-Tab-Rec 6s. Con Coal Md 1st Cub Cane S Det Edison ref §s Du Pontda N 7izs. Duquesne Lt 73, § fruquesne Light 6. E Cuba Sug. Empire F&: Fisk Rubber & Gen Elec deb 5s B Gen Refract'es fs. 11 Goodr'h (BF) 625, 3 Goodyear Tr 88 '31.178 Goodyear Tr 8s'41. 28 Humble O&R 8 Int Mer Marine 6a. 31 Int Paper Ist 2 Tnt Paper 1st 5s 8 Julius Kayser 7s.. Lorillard (P Magma Cop cv Manati Sug st Mexican Petrol 8s Mich St Tel 18t 5s. Jildvale Steel 5. . Jontana Power 5 Morris&Co 1st4 Vat Tube 1st 55 w Eng Tel NY Edison 1st NYGELH&P N Y Tel 6841 N Y Tel 4%s. N Am Edison 6s. N States Pow b8 Northwst B Tel 7. Otis Steel 85 Pacific Gas & El 5s PacT & T5s'52 Packard Motor 8s. Phila Co ref 6s A Producers & Rf & Producrs & R 8s Public Service 5s Sinclair Oil 7s. . Sin Crude Oil 51z Sin Pipe Line 5s. . . South Bell Tel 5s. . So Por Rico Sug T« St Oil of Calif 7s... Steel & Tube is 93% 93% 91% 107% 99% 91t 918, 107% 101 106% 126% 8415 100% 98 87 9433 100% 105 10215 1074 97% 12 100 887 108 108% 90% 96% 931 104%; 110 9% 100%; 103% 93% 1% 107% aee 99% 913 913 107% 101 106% 126% 84'e 100% 981 874 9414 1001 105% 10214 107 97 113 100 89 108 103% 90% 97% 934% 104% 110m 874 100% 104% 959 101% 9415 100t 105% 103 10743 97% 113 100 89% 108 103% 90% 9714 9313 105 110 9T 100% Union Bag & P 6s.. Unit Drug cv 8s U S Realty 5s. U S Rub 1st rf 5s. U S Rubber 7izs... USSteel sf5s.. Utah Pow & Lt 5s. Va-Car Chem7s. .. Va-CarCh 71 sw Warner Sugar 7s.. West Union 6128 ‘Wickwire Spen Ts. Wilson & Co 1st 6s. wi n&Ccv Tis. 104% Wilson & Cocv 6s. 15 96 95t Winch'tr Ams 715 11 101% 101% — s ——— WALL STREET NOTES. 0il Prices Higher—Radiator Costs Advance—Dividends. Bpecial Dispatch to The Star. NEW YORK, February 13.—A half dozen or more oil companies through- out the country are today selling oil at advanced schedules. The advances generslly were approximately 10 cents a barrel. Ex-dividend today: Osceola Mining, American Railway preferred. Jeffer- son and Clearfield Coal and Iron pre- ferred and common. ‘The British American Tobacco Com- pany has declared an interim dividend of 4 per cent for the year on ordinary shares and half-yearly dividend of 6 pence a share. both poyable March 31. The French finance ministry has de- nied reports circulated last week to 'ect that American financiers are negotlating for the purchase of vernment tobacco monopoly. iators produced by the Am can_Radiator Corporation are today quoted at 21 per cent advance. There has bernu no change in the price of | boilers. . Remington Typewriter has declared ® $3.50 dividend on first preferred, payable March 5 to stockholders of record Febr 26. ) Ther N-flw Refining Com- bas de Lsual quazterly el ettt RAILROADS. Sales. High. Ann Arbor 4s. .. 1 65 Atchison gen 4, . 10 89% Atlantic C L Ist 4s. 88% 95% 80 101 Low. Close. 65 65 g5 898 881 88% 9 95% 9% 79% 100% 81 81% 5 13 83% 0 PLE&WV 4 6% 76 176 B& OSW div 3155, 9315 B & O Toledo 4s. 6614 Bklyn R T 45 200 66! Bklyn R T 78 Bk 79 Bklyn R T 7. 954 BkIRT 7s Bkl RT 954 9214 Canadian North 1144 Canad North 61s.. 112% Canad Pac deb 4s. . €0 Car Clinch & O bs. . 20% Central Pacific 4s. . 86% Ches & Ohio cv 4% Ches & Ocv 41z S Ches& O gn 47;s. . 85% Chi & Alton 3s. 52 Chi & Alton 31, 29 Chi B&Q 1strf 55. . 100% Chi & E Il gn 5% 81 Chi Great West 4s. 63% C M & Puget Sd 4s. 67 Chi M&S P rf 4355, 614 Chi M&St P cv 5s. . 89% Chi M&St P 45 '25. . 79% Chi M&S P cv 435.135 7% Chi M&St P 48°34.. 6 CM&StPgndizs Chi & NW 64s. ... Chi& X W Chi Rysbs..... “hi RT & Pac rf 4s Chi Un Sta 4348 Chi & W Ind cn 4s. CCC&St L1t 68 A CCC & St L 43;zn. Cleve Term 5;s. .. Cuba R R 5s. Del & Hudson 51 D&RG st rf5s.. Det United 433s. Erie 1st con 4 Erie con ext Erie gen 4 ErieconvisD... ., Gr Trunk sf deb 6s Grand Trunk 7s. .. Gr North gen Ts. .. Gr North gen 5135 Green B& W db B. Havana ERL&P 5s Hud & Man ref 5s. Hud & Man aj 5s LI Central ref 4s 111 Central 5155. Int Rap Tran 5s. .. Int R Transit 7s Int & G Nor aj 6s..141 Towa Central rf 4s. Kan City Ft S 4 ansas City S 3s. Kan City Sou s Kan City Term 4 Lake Shore 4 ‘31 Louis & Nash 7s. . Louis & Nash 5ss. 66l 66% 78 19 Qe nmet Market St cn 5= Mil El Ry & L 5= M& StLrfex5s.. M & St L 1st rf 4s. M StP & SSM 61 MK& TprinssA MK&T6sC... MK & T adj 5s Mo Pacific 6. Mo Pacific 58 Mo Pacific gn 4= Naszau E Ry 43 New Or Term 4 N O Tex & M in N Y Cent deb 6s. Y Centdeb 4s ) E8-R2aarBuma New Haven cd 6s. 136 New Haven d 4s 57. 15 New Haven 7s. 27 New Haven 7s fr.. 18 NY W & Bos41¢s. 63 Norfolk & W cn 4s. 2 Norfolk & Wcv 6s. 2 Norihern Pac3s... 1 Northern Pac 4s. .. 21 North'n Pacriés.. 18 O Short L en 5< 48 Ore Short 1, ref 4s. Ore-Wash Ist rf 4s P Pennsyl gen is Pennsyl gen 41;s. Pennsyl §1zs Pennsyl gold 7 Pere Marq 1st Reading gen 4s. RIArk & L4ls. St LIM&S R&G 4s. SULIM&S4s'29. StL&SFplsA. L&SFprinss. o a SeERePeenwantann s 647, 21, L&SF5%sD.. L& SF adj 6s.. ab'd A Loadjis. L con 6s. . Sou Pacific cv 4s. . Sou Pacific ref 4s. . Sou Pacific clt 4s. . Southern Ry 1st 5s. Southern Ry gn 4s. Southern Ry 6%s. Third Ave ref 4s Third Ave adj bs. Union Pac 1st 4s Union Pac 1st rf 43 Union Pac cv 4s. Union Pac cv 6s. .. Virginia Ry 1st 53. Western Md 4s - ‘Western Pacific 5s Wheel & L E cn 4s. 64 Wisconsin Cent 4s % TOTAL SALES (Par Val 11a.m.. 3820000 12noon 6652000 1p.m.. 8648000 2 p.m..10803 0008 —_— SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) e Noom,——: Bid. Gfter: 925.. 105% 103% . 106 © 106 9015 1031, o, 1021, 103 101% 61 61% 92% 95% 104 96% 63% 83 64 % 924 861 95% 104 « 96% 638 83 Aluminum Co. of Amer ‘Aluminum Co. of Amer. American Cotton Oil 8s ‘American Sugar 6s 1987, American Tel. & Tel. 68 Leather C., C.. C. & St. Du Pont 7348 1631 & Hocking Valley @8 1 0il 348 198: Hineas ity Torm, 681923 Kennecott_Copper 78 1980. Central . McNell & Ldbby s 1681 umfi' P. & 8. 8. M. 6% & [packing sow FINANC Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. A drop of 2 cents a dozen in the price of eggs was the interesting feature of the market. Increased re- ceipcs from the nearby states caused the decrease in price. Demands for eggs will increase with the begin- ning of the lenten season. There is a big demand for chickens and poultry, and limited receipts keep the prices up. Turkeys are mére plentiful and cheaper, the prices ranging from 35 to 40 cents, and the demand is slow. Broilers are so scarce and high that buyers are sub- stituting chickens. Dealers reported the condition of the meat market as being fair, and decreased demands during the lenten season will further affect it. The mar- Iet on lambs is stronger than a week ago. while the market on best cuts of beef is fair and steady. Eggs—Strictlv fresh. selected candl: per dozen, 36; average receil southern, 34. 'Cold storage egg: Live poultry—Roosters, per b turkeys, per 1b.. 35; spring ch ens, per lb., 33a35; keats, young, each. 60: fowls, each, 26a27. Dressed poultry—Fresh-killed spring chickens, per lb.. 35a38; hens, per 1b.. 28; roosters, per lb., 17; turkeys, per 1b., 36a40; keats, young, each, 70a80. Live stock—Calves, cholce. per 1b. 14; medium, per Ib., 13a13%: thin. Be: . Lambs, choice. per 1b.. 1 live pigs. 3.00a8.00 each: live hog® per 1b., 91;, Green fruits—Apples, per bbl, 176 A7.00; Deliclous, No. 1. per bbl, 6.00a 7.80. California oranzes. per crate. 5.00a6.00; Florida. 4.00a5.50. Lemons. per box, 5.00a6.0i rapefruit, 3.00a 4.25. Tangerines, Vegetables—Po 1. 150a2.00; per 2, 50a1.00. Sweet ;‘nrolma. 5a1.50; Lettuce, per crate, southern, 2.00; Romaine lettuce, per crate, 2.00; Iceberg lettuce, per crate, . 4.00. Cabbage, northern, 2.50a3.00 per 100 1bs.; nearby cabbage, per bbl 1.50a2.30; southern, 2. G0 per basket. Eggplants. per crate, a5.00. Toma- toes, per box. Florida, Beans, 2.0024.00 per basket. Peas, 3.00: basket. ~Peppers, per crate, 3.00a4.00. ~Kale, ' per_barrel, Spina . _per barrel, 00. crate, Florida, Brussels sprouts, 25a30, 00a2.50. bushel, X bushel. .0045.00. Beets, 0. Brussel sprouts. quart, Cabbage, hamper, 2.50a3.00. bushel, 1.00a1 Carrots, 40a50. Caulifiower, crate. Celery. crate. 1 Cucumbers, crate, 5.00a8.00. gplant. crate, 4.00 a7.00 Horseradish, bushel. 3.00a3.50 Kale. barrel, 1.00a2.25. Onion 3.00. Oysterplants, T'arsnips. bushel, 1. ket. 3.50a4.50. Iepper 5.00. Radishes, basket, bushel. 75a1.00 3.00a4.00, Tomatoes, crate, 2.00: Turni 3a40. Appl barrel, Dbushel, 100 1.50a2.00; Cranberri barrel, _§.00a12.00. 3.00a Oranges, | Strawberries, quart, ines, half strap, Selling Prices at 12:30. Wheat—No. 1 red winter. spot. no quotations: No. 2 red winter, spot 1.3912 nominal; No. 3 red winter, spot, no_quotations: No. 2 red winter, gar- licky, 1.38 % nominal; No. 3 red win ter, garlicky. no quotations; Janua 1.383; nominal Sales—None. Corn—Cob corn. new. per bar- ontract, spot, 84% per bushel; corn, spot, 861, 1. no_quo- tations: track corn, vellow, No. 2. new or better, §71% and 88 per bushel pne White, .’ Lettuce, basket. 100 pounds, E 100, baske: 4 and 51’z per No, ber bushel; Lovt, western bushel: No. Hay—Receipts, for the bet- | ter descriptions of timo and light $ a fair demand under lim- ited receipts at a range of 17.00 to 21.00 per ton. 15.00a N6 . 1 tangled rve. .00; No. 1 wheat, 11.00a oat, nominal, 12.00a13.00 TODAY'S CHICAGO PRICES. CHICAGO. Februar Wheat took up a decided upward swing in prices today during the early deal- ings, the market responding to an {advance scored vesterday at Liver- i pool and Winnipea while exchanges |in the Untied States were closed ve buying which accompanied to- s advance here included some pur- chasing on foreign uccount and re- Sulted in July and September reach- ng a new high record for the season. Predictions of a severe cold wave had more or less bullish effec The opening, which ranged from 1. to 3% higher, with May % to and July 1.15% to 1.18%, was follows#d by a moderate setback from iniual figures. Corn and oats, like wheat, touched new high price records for the season. Later, however, the corn market wakened as a result of selling by cash houses. After opening % to 3 higher, May, 77 to 77%, corn dropped below Saturday’s finish. Oats followed wheat, starting % to 3, higher, May 46% to 46%, and later showed further gains before begin- ning to react. Provisions were easier in the ab- sence of any aggressive buyins. WHEAT- igh. Low. Mey ... July Close. 1.23% 1181 i 1 ! May § July 1 8ept 0A September PORK LARD— May {yia 10.00 Ty 1090 CHICAGO LIVE STOCK MARKET. CHICAGO, February 13.—( S. De- partment of Agricu ure).—HoOgs— Receipts. 53,000 head; steady to 10 than Monday's close; bulk 150 pound averages, 8.05a8.10: top, 815; some held highe K 190 tO 230" pound butchers, & - aPulK 2 00 pound butchers, 7.65: e mowa. Mmostly 6.15a7.00; - de- 50a8.00; v weight medium. 7.60a8.00; 7.90a8. 5; pack. 1085 1085 sirable- DigS, hogs, _7.50a7. light, 7.90a8 packing sows, smooth, 8.85a7. % | Pl sows.,rough, 6.506.90; killing piss, ‘Tank Car 7s 1080 Wostern. Unton oije 1oa Westinghouse E. & M. 1083 e TREASURY OERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noop.—— Oter. 100 100 1-32 00 %s June 15, 1934.. tember 15, 1924. e reh 1D, | 1925 Juve 15, 1925, D r 18, March 15, 1926, 1 100 ®is10 10110 ta: 1%, Viose. . 'S0 132 ‘Baain ¥ 15, 32 - Posember 15, 1921.... 99 15-16 100 116 e FORD CAR ORDERS FAR IN EXCESS OF OUTPUT TROIT, February 13.—The Ford l‘thEr Company has orders for 148,407 cars and trucks booked for February delivery. This is 24,000 in excess of possible production. Orders for Ford- son iractors total 13,2835 The com- pany has advised its dealers that not more than 124,394 cars and 9,000 tractors can be made during the month. January was the tenth con- secutive month in whioh actual o ‘IL!,. ek cogded1.00000carn, .00. T e Receipts, 14,000 head; very slow: killing quality. plain beef ‘steers and better grades butcher she_ stock, Stockers and feeders, weak to 15 cents Jower than Monday's close; early top jong yearlings, 10.50; best matured steers, 10.00; bulk beef steers, 8.00a 9.50; other classes generally, bulk desirable bologna bulls, around 4. bulk light veal calves to packers, 11.00212.50; shippers, upward to 13.00 and above; bulk stockers and feeders, §.50a7.50; country demand narrow. Sheep—Receipts, 14,000 head; open- jng very slow; one load 88-pound lambs, early to city butchers at 14.50, looks Steady: practically no other lambs sold: many held higher; fed yearlings, wethers and sheep, steady; two loads 76-pound yearings, 13. desirable 106-pound ewes, up to 8.00; two loads 125-pound clipped ewes, 5.50. DAIRY PRODUOTS. BALTIMORE, February 13 (Special). —Live poultry—Turkeyrs, per pound, 38a45; old toms, 32; poor and crooked breasts, 25: young chickens, 30 and leghorns, 22a26; winters, 3 2 ‘small and leghorn, 23a24 ; ducks, 20a23 pair, 30a35 capons, 37a38; medium, slips, 30232, Eggs—Loss_off native and_nearby 58369 southern, 33234 TAL.’ PRICES OF RUBBER HOLD VERY FIRY Producers Making Effort tc Prevent Any Sharp Ad- vances in Market. BY J. C. ROYLE. Dispatch to The Star. NEW YORK, February 13.—Th British preducers of crude rubber ar not going to kill the goose that lay. the golden egg, represented in thei case by the tire producers of th United States. However, they are de termined that the returns from th goose shall be as large and regula as possible. That was the concensu of opinion today by men in closes touch with the crude rubber market of the world, Transactions in rubber here haw slackened pace materially since the recent flurried advance to above 3' cents a pound. Tire manufacturer have preity weil covered their re quirements” through February, Marct and April according to dealers. Tha buying served 1o aid the upware trend. Prices have slackened of since it ceased. Most experts expec the market to be generally quiet fo some time, although with little reces sion from present price levels Shipments Cannot Increase Now. Output of crude rubber from n until April 30 from the straits settie ments, the ala peninsula and the ily must remain a s for the last thre: according to the laws re stricting shipments imposed b the British colonial government ‘hos« regulations provide that when the |price of crude rubber has averagec {1 shilling 5 pence for the thre: months’ period (about 33 cents), out put automatically may be increasec 5 per cent. The price for the las three months did not attain tha average. Producers. dealers and consumer: all stated today they did not wish t¢ see the price rise too extensively o) too quickly. The producer recognize: that the American tire manufacturer: are his best customers and his mair source of revenue. He has no wist to see their operations curtailed Moreover, the more rubber the pro ducer is allowed to produce and whict he can arket at a fair price the eaper he can produce and he would prefer to obtain slightly lowe: figures for a greater tonnage thar higher prices for a more restrictec output. Dealers Want Low Prices. Dealers also are opposed 1o ligt prices. although in the normal trenc of markets, deal e nearly alway: inclined to the side. In thei case, however, they must finance the importation of the product. Thes bring it into this country, buying fronm the producer and hold ‘it for sale tc the manufacturer. Their operation: imited to strictly by amount o ¥ they are able to borrow from the bank to finance these transac tions. If the price of the product is abnormaliy high they can handle a far less amount with the credit facili ties than if the price is low. Tire manufacturers protest tha high prices for rubber will check pro. duction of tires and result in a tre mendous cost to American car users Dealers and producers, on the other hand, declare that in the ordinary Forc size tire there is less than five pounds of rubber, and that the recent increase: of from 10 to 12 per cent in tire prices more than covered the increase in the price of the rubber used. Narrow Margin Contracts. Dalers, say however, that the dif ficulty f the tire manufacturer lies not much in production of tires ai profit under the new prices as i suppiving tires to manufacturers o coniracts. made on an extremely nar row margin of profit long before the in e in rubber and fabric price took place In the meantime. producers. knowing the extent of the proguction schedules of the automobile manufacturers, es timating the number of tires for re placements throughout the countrs and with output strictly regulated by law and only to be enlarged by price advances or legislative enactment, are thoroughly convinced they do noi have to kill the goose to get an ade quate supply of golden eggs. iSteel Mills Very Busy: Coal Output Retarded spatch to The Star. URGH. February ij —Stee { mills in this tion are booked ful for the natural delivery period of the next few months. It is assumed t some of the inquiries now in the mar ket are due to anticipation of highet prices, but consumers are calling for deliveries in ever increasing volume now. Steel mills and furnaces are facing a period of profitable runs. Coal production is being retarded by limited transportation facilities One large company has been receiv- ing only 30 per cent of its freight car requirements. The market is soften- ing. Run of mine steam coal is quot- ed as low as $3 a ton, although sales are being made as high as $3.75. R ports of canceled orders are in ci culation. Advance in Qil Prices Is Great Help to Texas Special Dispatch to The Star. l HOUSTON, February 13.—Losses d ong’ to recent storms in this section ha more than been counterbalanced by the Advantage accruing to farmers, cattle raiser and cotton growers. The ad- vance in crude oil has had a stimulating effect on_operations in the Texas oil fields both in priven and wildcat terri- tory. Oil drilling machinery and sup- plies are in tremendous demand and de- liveries are being pressed on every side. The better agricultural outlook has stimulated buying by country merchants and wholesalers and jobbers are over- run with orders. The advance in crude sugar is _causing increased activity among refiners, and the only lines of trade to suffer are those to Tampico and Mexican oil flelds, which are more seri ously menaced by salt water incursions than ever. St. Paul R. R. to Spend $8,000,000 on Terminals 1 Dispatch to ST. PAUL, ‘ebruary 12 —Building construction in the northwest is in- creasing and preparations .for star ing road work within the next fe weeks are being made today. Re vival of freight and passenger trafic on the upper Mississippi on an ex- tensive scale is forecast by announce- ment that St. Paul interests have a ranged to spend $8,000,000 in develop- ing river terminals and an indus- trial district on Pikes Island facing the new Ford motor factory site. The plan involves construction of five bridges. (Copsright, 1928.) EXPERT SEES BUSINESS PEAK A YEAR HENCE NEW YORK, February 13—E. W. Kemmerer, professor of economics and finance in Princeton University, in an article specially written for the Garfield National Bank, predic! that the crest of the business cycle will probably be reached in the fore part of 1924, pogsibly the latter part of 1323, He says: “Prices of industrial stocks may be expected, as usual, to anticipate by several months the movements of the cycle. They will probably tend up- ward during a great part of 1923. During the year 1923, or at least dur- ing the greater part of it. we shall be moving toward the crest of the ‘business cycle wave.' but the crest will not be so high nor will the trough be so low as during the last 'business cycle.” —