Evening Star Newspaper, February 15, 1923, Page 28

FINANCIAL. - BUYING MOVENENT [ STILL ADS STOCKS Further Marked Advances Recorded—Trading Covers Very Broad List. Adaus Lx; Reduction. . Ajux Rudber. .. Alasku Gold. . Alasks Juneau. All Am Cable. .. ‘ Al'led Chemical. Al'ied Chem pf. Allis Chalmers. Am Agr Chem.. mAzr Chempf. | Am Beet Sugar. Am Beet 5 Anmi Bralk BY STUART P. W Fpecial Dispatch to The Sta: NEW YORK, Februar ‘e Am Brk shoe Luying movement on the stock ex- hange was resuned today. It was altogether as impressive a dizplay «s | Amn Cotton any made so far, because of the large | AW Druggiet - wumber of stocks which at one time | ™ Hide&Leatl | AmIide&Le, . or other felt the force of the bUYing. am e i A further advance in the price of lAmInternatl.. e copper mctal to 13': cents alswmla “runce. . sound made the copper shares favor- | -::"Yi-i\:‘;ne:ce ! ites in the trading for the first time. | LU Fnicco ttah, Cerro do Pasco, Inepiration «nd \ A Locomotive. Kennecott a1l made new highs for the | ueason likewise on the largest turn- iy RIoies s over that has occurred in this :X"OHV! m Roil M1l pf. for many montas. Stecl stocks were | Am Sufe Ruor.. raken up after the coppers and prior, | A1 Ship & Com. oo, the stimuiua was found i riing | Am Smelttug. .. prices for steel products and the cer- | Am Smelting pf. iainty that these would show in a AmSteelFdy... vemarkable serles of earnings state- | Am Stee! Fdy pf ment for the first and second quar- Am Sugar.. 5 ters of the year. Am Sugar pt. Heavy Selling in Sugar. | Am Sumatra Further selllng came to ac Al Sumatre sugars following another reaction in|AmSnutf... ihe price of raw sugar, but here|Am Tel & Tel the decline was halted long before, !Am Tobacco. and_tho sugar Stocke came back | Am Tobucco (B) again. {4m Tobac pt Tt was a field day for Am Water Wis. in industrial specialties. Alcohol wus bid up across 0, tie movement fitting in with reitable estimates previously made regarding the {mproved earnings of the com- pany as a result of the rise in de- natured alcohol and the additional income supplied by the chemicals sub. widiary. American Can completed a ise of nearly 10 points since Wed- nesday morning, closer studv of the annual report having made the street nelieve in the talk of a larger dis- bution to shareholders. Westing- use Llectric was unusually active at advancing prices, nd General AMotors was bid up o uge tran actions, following, as it always jump in Dupont sto Review and Outlook. The principal incidents in the & cial situation today w tha estab- lishment of many new high records o the stock exchange, the ready ab- L =orption of another scries of new bond | Balto & Ohlo. .. and stock offerings, the ieturn of ' lialto & Ohiopt. srerling exchange to the highest since | *Bank of Com. . the spring of 1919, when the British|Barnesdall (a). treasury removed its artificial sup- | Barnesdail (B). port, and finally the violent dowa-!|Buyuk Dros. ward recoll in th matket. | Beechnut Faci:. Por the rise & the whole in- | pep) 1 Ive Was agais Tound ln the gon: i cti Stest (B) . e 1 Booth Fisnertes e! schedules b It rce in the early part of 1921, having ' Booth Fish 1stpf indone the severe price-cutting which | Br £m Sti 2d pi. went on during the ompeti- | Bllyn Bdisou € era in the steel trad { Brooklyn Ed rts. This means al Bllyn Rap Tran 2 { Bklyn R r'r ctts. panies are b: he mormal pro The copper | Bklyn Un Gas. . 1d was not! Brown Shoe. ietal at 131 cents @ p nly at a new high for 1923, but high- | Brown Shoe pt Buras Bros (4). »t Am Metals. the pools Industrial A Woolen. ... Am Woolen pf. m Writ Prpf. . |Am Zinc & Lead Am Zinc&Ld pt. Anacondu s | Asso DryG 2d pf | Assoctated Oil.. Atchison....... Atchison pi Atlan Bir & Atlun Cst L. i Atlantic Fruit. {Atl Fruit ctfs. Atlantic Gulf, Atlantic Gulf pt. . Atlantic Ret. . Atius Tacl Austin Nichols. Ealdwin Loco. . o than any pricé rescied in tne fst two vears. The same was trus o _ 1e, quotations Zor which vere aguin | Suras Lros pi nced today By, Sixth Oil Price Jump. ;Hu‘l:fzgpe,' : Attention was drawn once more 10! Butte&Superior. the tuvorable conditions in the main | putterick.... existing in the ofl industry by another | 43-cent increase in the price of Penn- ! Caddo Oll...... ania crude. This is the sixth suc- | California Pac cessive advance in the Pennsylvania | (Culif potrol. territory that has occurred since the | Calir petrol RS OT e { Callatan Zic There was nothing to be said in any j callaban Zinc. way now bearfig on the advance in sterling exchange. Liecent figures both | r. for ,\rfiencm and British trade hu\‘eIL: atralLeathp? shown that the balance of ordinary j Cerrc de Pusco. commercial debits and credits have ; Chandler Motor. been turning more in Great Britain' favor; moreover, this is the season when imports into this country normal- | Cnf iy reach thetr maximum, while ship-|Chig& Alton pt ients of grain and cotton fall off. It i Bust bit is the time of year when, under the old | (it Great West, conditions before the war, the United | i Greae wpy States was usually exporting gold inj Gl Frear I Bt scttlement of adverse balance ’Em NIl & St pt Action Among Leuders. ChiERm Gulf States Steel moved ahead into ! Chi Phe Tool. . new high ground on the report that!Cni R 1& Pacific dircctors &t a meeting to be held | pjje Copper. .. cithin the next fortnight would re- | Ghino Copper sume dividend payments at the rate | o 20 SOl of $8 a share. Gulf States during the | <OFS IO <t six months has been showling to | COl0 Fuel. ccptional advantage, and earningg: Cvlv & Sout d $20 a share are looked fof | Columbia Gas. ... { Columo'a Graph sed the critical figure on | Colum Graph pf Wednesd: Cosden today moved | Com SoiventsA. stezdily ahead. Latest reports re-|Comp Tabulator sarding Cosden are that the com-|(onsCigar. . pany will carn in the nelghborhood | Cons Cigar b of 320 a sharc this year, and that the ! GontoT Gy nes. company is sold up its refined | SONST NG oroducts through 1924. It is more | Gond Loatile: - ‘han lkely that the dividend rate on | 49 Roneas Cosden will be increased this year, | Contlnsurance. be declared. i Coru Products. . The group of Replogle companies— | Coatinental Mot and that an extra dividend also will | Cosden & Co. Teplogle Steel, Vanadium and Wick- i Crucible Stecl. . vire—kept pace today with the other ! Crucible Steel pf Independent steels. Replogle Steel | Cuban-Am Sug. 15 now a producing company, and 18| Cub Am Sug pi uite a factor in the pig-iron market { Cub Cune SUgar. it owns 5,000 acres of ore lands, whichi | Cupu Cune 3 pf are estimated to contain more than, SuosCR00 TS 200,000,000 tons of 45 per cent ore. S uval 3 ‘The Empire Steel and iron Company, : Cutan Dompt. recently bought by Replogle, has five ! Dblast furnaces and extensive iron ore und limestone lands. Partial Check Overcome. Davidson Chem iDe Beers. 3 Del & Hud: D Lack & Wstn One thing certain about the Stock | Dorme Mines. market today was that whatever! 'S e Atlan.. mobering effect might have been ex-!1ujont(131) erted by the partial check on theip none ey previous day it has been quickly|pgiimun Kodalk ‘ost. All that was considered at the | il s: Bat. moment was the power of the pools 'nxiuu ""C i as it wes demonstrated in the rapld j LKk} °m_' s 1pbldding of one after another of {Zndicott-John cortain stocke. jLrie...iooen.ns Desplite repested denials the story { Lrielstpf. of a merger between California Pc-|Erie2d pf:... . troleum and Standard Ofl of Cali- | kixchangeBuft. fornia would not down. It was!FairbanksCo. brought forward again in connection with the heavy buying of California Petroleum in the last hour. u e e ‘TREASURY CERTIFICATES. (Quotations furnished by Reamond & Co ) ¥'d Mines & S pe. { Pisher Body p?. i Fisher Bor O pf. Fisk Rubber. * | Tleiehman | Freeport Texus. 116 | Gen Asphalt.. 013 | Gen Clgar... .. 100 | Gen Cigar pt. 101916 1013 Gen Cigar deb. 104 1013118 Gen Electric. I 16 199F.16 | Gon Blec spl v . 999-16 99% | Gen Motors.. i - 100918 1001116 | Gimbel Bros pf. 4128 Beptember 13, 1635, 99182 90318 | Glidden. s Dafienb:r_l li"‘: 99 15-16 100 1-16 | Golawin Corp. i Goodrich. ... OBRT-TERM SEC = (Quotatioss Turaithed by Eesmons ! g:::;x;,fl(\:% Gray & Davis. Gt Northern pt | Great Nor Ore. . . | Gt West Su pt.. 4 | Greene-Canunea Guantanamo Su, Guif Mo & Nor. . | Gulf Mo & Norpf | Gulf St Steel.... 3 'Xlublchaw Cab. 1 H-rtmal_th:lrp + Hayes Wheel. oo ; 001, 196t | Hendee Mfg. Grest Northern 7s 1986, Houston Oil. Hudson Motor: Hoeking Valley 6s 1924, Humble Qi1 Bige 1952 Hupp Motars Hydraulic St Kansas Ci Tilinots Central. Kenpecott 1980, mebhz. ScNelt & Libby o 1951 i, 8t P &8 8 Inspiration. ... Interboro Met. . o M. 833 1031 Motris & Co. 7133 1980. a Interbor RepTr. Peans I B 7 ST, 1 Union Depbt 3ns 1923, oy . 10" In Ag Chem pt {Int Cement. ... k & Co. 78 1923 , | InCombustionE Tnt Mer Marine. nt M Marine pf Rata—Matarity. 3138 March 13, 192 March 13, 1 Junte 13."1928 {s Beptember 13, December 1 s June 13, 1 51fs September 16,192 {3{s March 13, 1925, 438 June 13, io2 s December 15, s March 15, 1626, Avuminum Co. of Amer. T2 1933 um Co, of Amer. is 1835, Alsm Cotton Of1 1 Anglo-American Of1 7 R St Ry 'apadian Pacific 6s 162¢. tentral Leather 3s 1025, 3 1 108 103 104 10 1983 Opex ) 64y 14 3% 1 104 6 111 463 8 63 46% 80 81 109% 941 184 109 186% 1% 14% 100 10% s 7 8833 268% 12% 7% o4 105% 27% 18 17 81 2% 1% 94 41 22 6 287% 264 47 1121 T 111 49 834 63 457 20 82 109 988¢ % 14 100 10% Lovw. Close. ! 78 78 |IntNickel... .. 641 84% | Int Nickel pf. 14 14%:Intl Paper 4 | Intl Paper (sta) 1% | Invincible Of1. 108% : Iowa Central. .. 77 | Iron Products. 110t Island OMl. ... Jewel Te: E Jones & L'ghl pt Kansas City Sou Kansas & Guif.. Kayser (Julius) Keily-Spr Tire. . Kelsey Wheel. . Kennecott...... Keystone Tire. . Kresge (SS)... Lake Erle & W | Lee T & Rubber. | Lehigh Valley. . Lima Locomo. .. 10815 8 110% 48% 83 63 45'% 80 80 1003 4% 184 63 17% es. ... Lorillard (P)... Louis & Nas . Mack Truck: Macy Co. | Magma Copper. Mallison & Co. . Manat{ Sugar. Manati Sugar p? Manhattan Elev. Manhattan Ects Manhuttan Shirc Market StRy. .. Market St prior. 88% | Marland Ofl. ... 107% | Mathison Alkil! 83% | Maxwe'l (A)... 65 | May Dept Stores 145 |cIntyre Porcu. 123% | Mex Seabourd. . 158 |Mex Sbd ctts. i 157% | Miami Copper 103% | Midéle St O 30 | Midvale Steel... 55% | Minn & StL (n). 0% | Mo, K& T wi... 1014 | Mo, K & T pr wi. 111% { 3fo Pacifie. ... . 29% | Mo Pacific pt... 17% | Montana Power. Montgom'y W'rd Moon JMotors Mother Loas. . Nash Moto: Natl Acme. ... Natl Biscuft w { Natl Condul Natl Lead. “ Nat R of Mx 1st. 19% 8% 100% 30 105 Norfolk & West North Amer pf.. North Pacific. .. Nov Scotfa Stee; Nunnally Co. 4| Oklahoma Prod. :| Orpheum Ctret Otis Elevator. Otis Steel. . Otis Steel pf. Owens Eottie. .. Pacific Gas & E. i FacificOtl. ..... Puckard Motor . Pan-Am Pete. .. Pan-Am Pet (L) Panhandle. Pennsylvania Penn Seabd S People’s Ga: Pere Marquette. Pere Marg pf. .. Philadelphia Co. Phillips Pete. .. Plerce-Arrow. . Pierce-Arrow rts Plerce-Arrow pf Pierce Ofl Plggly-Wiggly. { Pitts Coal...... Pitts & W V... Pond Creek Coal Postum Cereal. . Fressed Stl Car. Pressed Stl C pf. Froducers & Ref. Prod & Refpf... Prod & Ref ris Pub Serv of N J. Pub Serv pt. Pullman Co. Punta Alegre. .. PureOtl........ Rallway St! Spr { Ray Con Copper Rand Mines. .. Reading...... . Reading 2d pf Remingtorn . Replogle Ste; . ep Ir & Steel. . Rep Ir & Sti f.. 2eynolds Spring Reynolds Spr ris. Rey Tobac (B). . Rey Tobpf B... Royal Dutei. St Joseph Lead. St L & San Sran. St L& Sun Srpf. StL Southwn. .. St L Southwn pt San Cecilia Sug- Savage Arms. .. Seaboard Air L. Seaboard A L p? Sears Roebuck. . Seneca, Copper. . Shattuck-Ariz. . ell Tr & Tran. | Shell Union..... Shell Union pf - . Simms Petrol Simmons. . B Sinclalr Oil. ... Sinclair pf. ... Skelly Ofl...... Sloss-Sheflicid. . Sloss-Sheff pf So Porto Sugar. So Porto R S pf. South Pacific. Southern Rwy .. Southern Ry pf. Spicer Mig Co.. Stand Milling. St Ol) of Calif Stoflof NJwi. StOilof NJpf.. Steel & Tube pI. Sterling Prod. .. Stew’t-Warner. Stromberg Carb Studebake:. . ... Studebalicy pi. . | Submaiine Bout Superior Ol ! sweetsCootAw ! Tenn Copper. ‘Texas Company . Tex Gf Sulphur. Texzas & Pacific. Tex & P C&OIl.. Third Avenue | Tide Water Oll. Timken Bearing Tobacco Fred... Tobacco Prod A. Tobacco Prod pt. 1 Trans Contl Ofl. Transue & Will, Union Oil. Union Paciflc. Unlon Pacific p! Un Cigar Stores Un Alloy Steel. . United Drug. ... United Drug 1st United Fruit. United Ry Inv.. Utd Ry Inv pf Unit Retall St. U S Cast Ir Pipe U SCastIrPpf. | US Express. ... UBS Food Prod. . S Hoffman Mc! Indus Alco.. Realty. . Realty pf. Rubber. . Rub 1st pf.. 1 8 Smelt & Ref. SSmelt& Rpf. 88 274 121 % 2314 105% 1054 274 28 3% 17 524 9% 1% 94 41 23 3% 893 24% 1% 43% s 8 B 8 8 U T s U v U v Open. High. 14% 8% 53% % 173 EVENING STAR, WASHINGTON, D. C.. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office For Revised Close of Stock Market see 5:30 Edition of The Evening Star. i 15% 8% T8% 54% B3 T 1Y 17 17 3 14% 1047 104% 134 14% 42 6913 o 182% 131 q 116 North American 118% By 28 118% 14% s34 3% 6o% 82 12% 11% 4 14 142 5% 223 87 47 603 102%. 38% 46 0N 4% 8% 4 16t 91ty o6% o1 96 80 89 24 47 20 119 116% 48% 4w % T8l 28% 28 10 10 & 28, 21 194 1% 148 114 10% 61 60 464 435 82 4% a1 39% 394 66y 66 4ile 46 59% 58% 13 12% LG 3% 32 5n M 6L 604 66% 64l 3% 3T% 134 43% 92 130 =03 $0's 1le% 14% 7 82% Ti% % 13 28% 1% 98% 103% 103% 61% . 6035 102% 102% 41% 38% 46 46 Low. Close. | (Sales are in 81, UNITED STATES BONDS. - N BOND MARKET 8% i “High. Low, ' Close. 8% » {Lbags les. “Hig! 84 m . . Ex 133 101 84 101 74 101 gg ;;u,iHeavy Profit-Taking in Some |Libsats. ... 2 ‘9870 9870 98 i za e 30 3530 S8ee w0 P Sugars—Liberties Firm. [T :g;“x:%: 382 3908 900 9900 g Rails Quiet. 906 9898 9880 9388 30| i Victory 4% 74 100 22 107% ! %s1852.. 214 10002 e FOREIGN. 912 ! Sales. High. fi“l 42 102% Spec al Dispateh to The Star, .31 99% T i t 2 4n! NEW YORK, February 15—Reac-|peisjum 8- - 95 | tlonary tendencles were displayed in|Rern ss.. ... 11 246 ot bonds today. This was true-of | Bollvia 8s. . 9215 23;- jsome of the sugar convertibles, which ; Bordeaux 6s 5% 2ot |had been rising very rapaly, but|Braziiis s 68y, | have met Leavy profit-taking. A case | prag( 71,5 20% | In point is that of the Eastern Cuban s 114 | Sugar T3s, which have reacted nearly ganld- 531926 (294 15 points. On the other hand, the cop- | Ganada 2is 10z 140 |per convertibles were stronger, with Caneds ra19ts. {Anaconda 7s higher than they have Chile 851946 3% been since they have been brought Chiless1926 g; ¥jout, and the Chile Copper 7s atso¢Chlle Ix 1041, {very active and higher. e aineCovh 7 ( The first large foreign government | Copenhagen 5345 85% | issue in many months was offered to- | Cuba Sk wi. .. ?i"]duy by the Dutch East Indles in the | Czechoslovakia Ss. ieg | form Of a thirty-year 51 per cent:penmark ds - boud in the amount of $25,000,000. The | p,ur N4 E B%: yield on these bonds to the earliest | Dutch East T ts redemption date is 7.20 per cent and | FramericanID 6.40 per cent to maturity, and there- | French Govt 8« fore a little more attractive from the | prenon Govt 11 redcmption standpoint than the out- | T1a5e g otre standing 8s, which reacted a point|pd). 2 jor more on account of the compari- | Jolland-Am « £ son. Other foreign government bonds | J4Panese 1st 4 were heavy and less active, with the |Japanesc ds. .. buying power in such bonds quite good deal reduced since they had their | recoveries. { The demand for municipal bonds | continued strong and prices remained {high as evidenced by the new issue :!of city of Philadelphia 4s today on | 4 538 busis. © Liberty bonds were |paris.Ly rm. In the railroud department 7 | there was little feature Erssue 5312 |, The trend of the money market so Ton | far this month has been contrary to 2™ ! general expectations, and if it con- | tinues on its present basis may halt any further advance in highest grade | bonds. 69% 13}Iy’,_ARMI'JUR FIRM EXPLAINS oy CHANGES IN METHODS | vy b SwissConfed s f 8. Af‘: | —_— {Ud King'm 318 e |Real Aim to Make Corporation 4 Eingm sis z {Uruguay 8=, Public Rather Than Family Af- |Zurich 8s. fair, Statement Says. sociated Press. 99 98 10000 ! Low, BY GEORGE T. HUGHES. | Argentine Ts. 2 | Belgium 7%s... 9T 108 100% 101% 100% 99% 104 101% 104 51 110 904 99% 83% 109% 9714 94% 94 83 95% 92 96 90% 931 81% 76 76 55 35 90 \99% 98 0% 0% yons £s K Marsellles 6s. . Mexico 55. i Mexico 4s. : Montevideo 7s. Netherlands 6s....191 Queensland Queensiand és Rio de Jan 8s 1945 Rio de Jan 85 1947. Sao Paulo, City, 8s. Sao Paulo.State, 85 i Setne. Dept of. | Serbs CrotsS! | Solssons 6 MISCELLANEOUS. Ajax Rubber 8s 5 99 Am Agr Chem Tls 12 2 Am Cotton Oil 3s.. 6 20 | ported change in the management of { AmSmelt&R1stis. 41 116 |Armour & Co. fs true only to|Am Surar Ref 6: 23 116 | {he extent that J. Ogden Armour. as|AmT&T cv 6s. 1, | previously announced, is retiring from { T ol 43'% | the presidency of the compuny to be- | 4m & & T <1t 3 come chairman of the board of direc-{4ny . & TC1IT 4" tors and that F. Edson White, former | 418007 ¢V 375 % & president, has become president, [Anacon 1st fs w said @ statement issued at the office of ; Armour & Co Mr. Armour last night. Atlantic Refin 3 | The active management of the com 11% {pany will remain as at present, the!R.! 60% | stutement said, adding that turee |Be: 16% | bunkers are to be added to the board | Betijeh 52 |of directors and that “other promi-|Beth'm S 14% | nent men of wide experience in busi- | perpn & 141, | ness afr: also are to be added Brier H St 16t 515 0% | "This is in line with the policy of ) Brier Tl St 1et 33 Tzo-?"‘.fl","‘ "Armour axndl C?' -" Dubl;c; xiyn Edison s D. ™ !rather than a private family cor- e er & &3 | poration, and the financing. now com- | Central Leather 3 { 78 0% 102 115% 29 92 102¢% 97 88% 994 1004 107% 98 9345 901 991 15 v | 150 16 10 28 105 332 1 46%!pleted, is in line with this accom- | C°rrode Pasco 5 |plishment.” the statement continued. ! Chile Copper 6s 92 “The only arrangements contem- l«"hlle Copper s 39% |plated with respect to the voting |Comp-Tab-Rec 66% | stock are for the purpose of facilita- ! Con Coal Md 1st 55 46 | ting the carrying out of Mr. Armour's | Cub Cane Scv d fs. ©8% | plans, and are ‘to continue only 60| Det Edison ref éa.. ° 181, | long as such of the stock as he may | Dy Pont de N Thss. s [desire to dispose of to the ofcers | puqyeinn Lt Tian gouy | and employes of the company and to | prdiesne -t e g;’:he public’ remains undisposed of." ‘rc:'ub; e ‘,b; 60k | {Empire F&G 7 664 Fiek Rubber 8s %3 WALL STREET NOTES. Fisfmuewer 5% e jGoodr'n (BF) 6%:s. 4 128% | $10,000,000 Oil Refinery Planned. Goodyear Tr 8s'51.107 5 oodyear Tr 8s'41. 11 Stocks Ex-Dividend. Humble O&R 5% ndlana Steel 33 e o | Int Mer Marine Ly NE | Tnt Paper I1st3s A. 991 | $10,000.000 oil refinery will be bullt at SsB. 107 | Los Argeles £ L Doheny said today [mbEdve tetoE 3 !in dispatches from there. Juli Kayser 7s.. 130 "Ex-dividend today: American Metal 1 Kelly-Sp afield 85, 301y | common, Brooklyn Edison, Butte Cop-{p 0t \rvers Ta ! per and Zinc; Cincinnati, New Orleans | Liggett & Myers is 1164 | and Texas Pacific, Cosden Company | /&Eett &My 147¢ | Dreferred, Deere Company preforred. ! $8u | Lee Rubber and Tire, Ligpett & Myer 83% | A and B_common, Lima Locomotiv ' ! common. May Department Stores com- | Mexican Petrol 59 imon, Sinclair Ol preferred, United {Mich St Tel 15t 43 | Cigar Stores common; United Drug sec- | Midvale Stee] 3s. 30i: ! ond preferred. 7 ) | Montana Power 5 584! - Leading refiners in the New York{iorris&Colst$ 931, | district have advanced lubricating ofl j Nt Tube 1st 55 prices 1 cent ner galion within & \eek, | Naw Eng Tel < 3% | following advances elscwhere. Retall | \¥qison 10t 6 + Quotations are expectes to advance e e ;| shortiy. INYTel6ndt... United Cigar Stores has declared the | ¥ regular quarterly dividend on pre 194 ferred, payable March 15 to stockhold 19% | ers of recora February 28, o] gradvances came again today in re | fine ices, bringing prices uj 34% ) to D EnEw P | pacific Gas & E1 s:‘v i !P-crae'rsyz:‘ 4 Packard Motor 8s. 23+ { COITON BILL PASSES HOUSE. |PhiiaCoref8sA.. { The Fulmer bill to establish andjProducers & Rf 8s. % | promote the use of the officfal gov-|{Producrs& R 8sw. ernment cotton standards in Inter- | Public Service state and forelgn commerce was, Punta Alegre Ts. passed by the Houlge yesterday with- ! Sinclair Ol 7s. iout a record vote. The measure,!sin Crude Oil5 16 {which would become effective next!gin pipe Line 5 915 | August 1, now goes to the Senate. }sfl,or Rico Sug St Ol of Calif 7s. 2,000 MORE WORKERS, ; Steel &]’gnbo s Toledo Ed'n 1st Ts. . CLEVELAND, February 15 (Spe- | Unjon Bag & P 65. . 3! ciul).—Employment in Cleveland in- | ' Rub et rf 55 01 | dustrial ~ plants, employing 500 OF It-S pubher i, .. 9914 |more, . increased by 2,000 men and | U3 Eubber i Pt women workers in the last month, g | according to & report from the cham. | Ttah Pow & Lt { ber of commerce today. el Cheraas, { Va-CarCh 73s sw | MASONIC BUILDING PLANNED. ; Warner Sugar 5 ‘West Unfon.6ps HOUSTON, February 15 (Special).— . | Announcement has just been made of “f“’“w‘;' csp:nt; the proposed erection of a new ten- | Wilson & Co Ist s ry office bullding here to cost $300,000. ‘Wfluon&C v T%s. uilding permits in January totalled | Wilson & Cocv 6s. 11 more than $500,000, with a $300,000 . Winch'tr Ams 71;s 5 e TOSPEND$1050000 By tie Assoc’ated Press, DETROIT. Mich., February 15.— The Pere Marquette railroad contem- plates the expenditure of $10,500,000, a record budget, in improving its fa- cilittes in Detroit, Grand Rapids, Lansing and other cities of the state this year, Frank H. Alfred, presi- dent, announced today. Improvements include double track between Detrcit and Plymouth, ad- ditions to B'nog: at Grand Rapids, new ralls, llasting, ditching, bridges, trestles and water stations end extensive repairs to freight cars New equipment for the year, said Mr. Alfred, includes 1,500 automobile cars, 500 ' fifty-ton coal ocars and twenty ewitching locomotives. 1 o 93% 109% 9% 100% 104 98515 958 102% 102 102 ... 107% 108% 107 120% 120% 120% 87% 69% 67% 226 214 417% 41% 59% 59% 26%% 961 24% 24% 631 68% 18% 18% 10% 10% Wabash pf (A). 304 30 Web & Heilbrn. 123 124 Wells-Far Exp. 95% 95% ‘Western Elec pf 114% 114% WesternMd.... 18% 18% Western Md 2d. ~23% 28% Western Pacific. 18 1% Western Pac pf. 60%s 60% Western Union. 114 11815 West Air Brke.. 118% 1181 Westhse Bl & M. 63% 63% Wheeling ELE 10% 10% Wheel & LEpf. 18% 1819 White Eagle Oil, 28% 28% ‘White Motor.... 58 52% ‘White Oil 5% 64 Wickwire...... 12% 12% 41 41 % % WiisonCo. .11l 41 ' 49% 494 LIVERPQOL COTTON. Willys-Overld. . P wort Pt oA ois 2ise 218 IVOOINOLER- . - - % | LIVERPOOL, February 15.—Cotton— Worthington.... 89 404 89 39%|gpot, increased demand; prices steady. Worthing pf(A) 83 8 88 88 |Good middling, 16.05; fully middling, Worthington(B) 70 70 70 70 |15.95: middling, 15.85; low middling, Wright Aero.... "8% 8% 8% 8% |15.60: good ordinary, 15.10; ordinary, 14.80. “Sales, 8,000 bales, includini 5400 American. Recelpts, 14,00 *0dd lot. / High. Low. Last. © Call Money..... 5% (bales, including 12,800 American. Futures closed steady. % 5 February, HOURLY SALES OF STOCKS. 15.46; March, 15.40: May, 15.26; July, - 71790015.01: Octoher 13.51: December, 18.48; 11am.....385900 12m... B 1126800 January. 13.38. ’ 107% 120% 68%§ 21% | 42 80% ¢ 9616 | 24% | 68% | 184 10% 30 12% 9634 11434 183 | 28% 17% 03 114 115 66% 10% 183 28% 52% 5% 12% 41 U S Steel. . U S Steel pf. Utah Copper. ... Utah Securities. Vanadium Corp. i Van Raalte. V Raalte 1at pf. Va-Cr Chemical. Va-Car Chem pf Vivadou. 5 ‘Wabash 1pm....919400 Zp.m 100 16 100722 | | | | i | Canad Pac deb 4s. . | Third Ave ret s THURSDAY, FEBRUARY 15, 1923. REACTIONARY TONE |[==xzv voxx BONDS oct excasvce] H . Received by Private Wire Direct to The Star Office. RAILROADS. Sales. High, Atchison gen4s... 7 89% Atlantic CL1st 4s. 4 884 AtlanticCLecl4s.. 1 81% B &O gold 4s. 9% B&OGs... 101 B&Ocviys. 81% B&Orefs . 7 83% B&O PLE&WV 4s. 76 B & OSW divays. 93% Bkiyn R T 68 ctfa, , 77 BkIynRT7g°21, .. 94% BKIRT 721 ct sta. 90 Canadian North 7s. 19 1141 Canad North §13s.. 11292 80 86% 945 B7% 85% 29 87% 100% 81 b4 61% 69% 80 674 7414 825, 109% 10815 818, 818, 1Yy 4% Close. 88% 88% 81% 8% 10t 80% | 83% | 5% 98% | 76% | 93% 90 114 112% 80 86%, 94 87% 85 29 87% 100 81 - @ (O YIS IR - Central Pacific 4s. . Ches & Ohio cv 5s.. Ches & Ocv4is, Ches & O gn 47, Chi & Alton 3%s Chi,B&Q gn 45 '58. Chi B&Q 1st rt 5s. . Chi & ETll gn 5s. Chi Great West 4s. Chi M&S P ret 41,5, Chi M&St P ov 5. . Chi M&St P 4g 25 ChIM&S Pov d%s. o CRRNBADIRNAD 61% 695 80% 67 4% 82 4 109% 10814 813 804 913 743, 102 9284 w0 & CCC&StLre6s A.. CCC& St L 41, Cleve Term 558 Colo & Sou 415s. Cuba R R ss Del & Hudson 535, Den&Rio G con 4s. D&RG Istrfss. . Det United 4125, Erfe 1st con 4s Erle gen 4% Erieconv 4 ... Gr Trunk st deb ¢¢ 85% 85 100% $ T4% 53% 83 57U Havana ERL& Hud & Man ref 5a. Hud & Mana T Central rat Tl Central 533, Int Rap Tran Gs. Tnt R Transit 7s. .. Int & G Nor aj s. . Towa Central rf 43, Towa Cant 15t 58 Kan City Ft S 4 Kansas City S 2s. . Kan City Sou gs. .. Lake Shore 4528, Lake Shore 4s '21. . Lehigh Valley 6s. . Louis & N uni 4s Yash T Lou!s & Nash & Manhat Ry en ¢s.. Market St cn 5s. MIIEIRY & L M&StLrfexss.. M & StL1st e 4s. M StP & SSM 61is. MK&Tist4 MEK&Tpring MK&TsaC. .. MK & Tadj s Mo Pacific 6s. Mo Pactfic gn 4 Montreal Tm 1st assau E Ry 4s’ O Tex & Min3s. Y Cent deb 6s. 5 63% 8614 imoan®Samm New Haven ~ 4 &: New Haven Ts. . nisfr.. Y State Ry 4%s. N Y W& Bos 433s. orfolk & W en 4s Northern Pac 4a. .. North'n Pac r i 3. Northern Pac 5 Ore & Calif 1st 5 Ore Short L ref 4 Ore-Wash Ist £ 43 1 Pennayl gen 5« Pennsyl gen 4 Pennsyl 6158 < Pennsyl gold 7a. .. Pennsyl con 4%s. . Pere Marq 1s Reading gen 4s St LIM&S R& StLIM&S4s 1104 | 98 961 85t 811 87 @ oemte 1 RwiwnndeddBiclicnanna 1 Seab’d A Liref 4s. . Seab'd A L adj 5s.. o It 3 Sou Pacific ref Sou Pacific clt Southern 87Y% 527n 9619 688 1018 ¢ 602 60% 93 Third Ave adj 3s. . Union Pac 1st 4s. .. Union Pac Ist rf 4= 19 Union Pac cv 4s... 87 Unfon Paccvés... 24 Virginia Ry 1st5s. 15 Western Md 4e.... ‘Western Pacific 3s. 1 821 TOTAL SALES (Par Value): 1lam.. 8914000 12noon 7054000 lpm.. 8523000 2p.m.. 9887000 95t A 1042 63% FOREIGN EXCHANGE. February 15, 1923—1 p.m. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks cold value. London. poutd 4.8665 Montreal. .00 ‘188 e Berlin, = Rome, Zurleli, frane. Athens, drachma Madrid, peset 10414 | Copenhagen, crown. Christiania,’ crown. Stockbolm, crown. Dy the Associated Press. NEW YORK. February 15.—Foreign exchanges firm. Quotations—Great Britain, demand, 4.68%; cables, 468%; sixty-day bills on 466 5-16. France, demand, . cables, .0608%. Italy, demand, .0478 cables, .0478 Belgium, demand. .0532; cabl .05321%. Germany, de mand, .00005414; cables, .000051. Ho land, demand, .3955: cables, .3062 Norway. demand, .1869. Sweden, de- mand, .2659. Denmark, demand. .1907. Switzerland, demand, .1878. Spatn, de- mand, .1564. Greece. demand, .0120. Poland, demand, .000029. Czechosio- vakia, demand, .0296. Argentine, de- mand, .3726. Brazil, demand, .1162. Montreal, 98 25-32. BUYS PIGGLY WIGGLY. Memphis Firm Takes Over Defunct Manhattan Concern. NEW YORK, February 15.—The Piggly Wiggly Corporation of Mem- phis yesterday purchased at a re- ceiver's sale the franchises and store g?:;uw?t Ith% dehmcl( uanhu::an ggly Wiggly Corporation, operating in New England, Npcw York, northern New Jersey and part of Pennsylvania. The sale realized $145,000. while mer- chandise already sold and yet to be sold will glsld an additional $20,000, it was said, Creditors’ claims totalling $500.000 have been filed. —_— PARIS MARKET FIRM. PARIS, February 15.—Prices were firm on the bourse today. Three per cent rentes, 58 francs 30 centimes. Exchange on London, 76 francs, 80 gentimes. Five per cent loan, 75 francs 20 centimes. The dollar was quoted at 16 franes 41% centimes. iGrain, Produce and 5374 | 104% | 828 | 85% | 961 | 82% ¢ FINANC Live Stock For Revised Close, of Bond Markst se~ 3:30 Edition of The Evening Star. | LOCAL WHOVLESALE MARKET. Freezing weather was reflected in the local egg market today. Receipts were lighter, and prices advanced 2 cents a dozen. Cheaper prices, When the weather improves, are predicted. Decreased receipts of hens were re- ported, and higher prices prevailed. the advance being 2 cents a pound, Increased receipts of other lines of poultry were reported, with reason- able prices prevailing. ‘There are plenty of live turkeys on the market. No change in prices’ of' butter and cheese was reported. The market. on both products was reported as being decidedly firm. g Eggs—Strictly fresh, selected canled per dozen, 36; aterdge® receipts; 33 southern, 34. "Cold storage €ggs, 27- 14ve poultry—Roosters, per Ib.. 16 turkeys, per 1b, spring_chick- ens, per Ib., 33ais; , young. each, 40; fowls, each, 26a27. Dressed poultry—Fre chickens, per Ib.. 35a3 28; Toosters, per ib., 17; turkeys, per 1b. bals; keats, young, each, 70a80. Live stock—Calves, cholc 14; medium, per Ib. 6ad. Lambr Itve pigs, 3.0 per 1b., 9. Green fruits—Apples, per bbl. 1 a7.00; Delicious, Nor 1. per bbl. 7.80." California oranges. per crate 5.0028.00; Florida. 4.00a5.50. Lemons. per box, 5.00a6.00. Grapefruit, 3.008 -23. Tdngerines, 3.5025.00. Veeetables—Potatoes, per bdl 1, 1.30a2.00; per sack, 2.0022.10: 2, ©0al00. Sweet potatoes. North {Carolina, '75a1.50; nearby, 2002273 {Lettuce,” per crate, southern, 1.00a 2.00; Romalne lettuce, per crate, 102 2.00; Iceberg lettuce, per crate, 3.50a 14.007 Cabbage, northern, 2.30a2.00 per 100 1bm; nearby cabbage, Der : | 1:60a2.50;" southern, 2.2523.00 per basket. | Eggplants. per crate, a5.00. Toma- toes, per box, Florida, 2.50a6.00. Beans, 2.0024.00 per basket. Peas, 3.00a5.00 per basket. Peppers, per crate, Florida. 3.00a4.00. Kale, per barrel, 1.50a1.70. Spinach, per barrel, 2.00a3.00. _Celery. . 2.5023.50. _Brussels Squash, 2.0022.50. GRAIN AND PROVISIONS. BALTIMOR! February 15 (Spe- cial).—Potatoes, white, 100 pounds, 50a1.35: pounds, 90a2.25; sweets, barrel, 2.00; bushel, 50a80; yams, barrel. 1.75a2.00; beans, bushel, 3.00a 5.00; beets, 100, 5.00a7.00: brussels sprouts, quart, 20a23; cabbage, hany per, 2.50a%.00; savoy, bushel, 1.00al.2i carrot: basket, 40a50; cauliflower, crate, 1.50a2.00; celer. crate, l.50a 2.50; cucumbers, crate, 5.00a8.00; egg- plant, crate, 4.00a7.00; horseradish, bushel, 3.0043.50; kale, barrel, 1.75a lettuce, basket, al.75; onions, 1.50a3.00; oysterplants, ; parsnips, bushel, 1.40a ; peas, basket, $.00a4.00; peppers, 3.00a5.00: radishes, basket, 50a splnach, bushel, 75a90; squash, -killed _epring 4.00; turnips, basket, 35a50. Apples, packed, barrel, 2.50a5.50; bushel, 75a1.50; loose, 100 pounds, 1.56 42.00; basket, 50a75; cranberries, bar- rel, §.00412.00; grapefruit. box, 2.50a 3 oranges, box. 3.30a4.25; straw- 0 4.00. Selling Prices at 12:30. ‘Wheat—No. 1 red winter, spot. no quotations; No. red winter, spot, 1. nominal; No. § red winter, spot, no quotations: No. 2 red iwinter, gar- licky, 1.36% nominal: No. 3 red winter, gariicky, no quotations; February, 1.3612 normal. Sales—Bag lot of nearby at 1.15. Corn—Cob corn, new, 4.40 per bar- rel; contract, spot, 84 per bushel; No. 2 corn. spot, 86; No. 4, no quota- track corn, vellow, No. 3 or 50 and ‘91 per bushel strap, : per . 3. 54 and 54%. ¥ Nearby, 83a95 per bushel; No. western export, spot, 971y per bushei; No. 3, no quotations. Hay—Receipts, 75 tons: for the bet. ter descriptions of timothy and light there was a fair demand under lim- £0.00 per ton. Straw—No. 1 tangled rye, 15.00a 16.00; No. 1 wheat, 11.00a12.00; No. 1 oat, nominal, 12.00213.00. | CHICAGO, February 15.— Tivs o 1148 118 g7 B e i WHEAT— May July | September | CORN igh. T4 3% % 48 451 481 11 10.90 . 1085 DAIRY PRODUCTS. BALTIMORE, February 15 (Spe- { cial).—Live poultry—Turkeys, —per | bound, 3sa42: old_toms, 30; poor and |~-rouked breasts. 2 young Chh,:k(‘ 30; poer and leghorns, winters, 21 old hen 4a2 small and 2 ;- i horns, old 15218 ducke geese, 19a23: plgeons, patr, 30a85; guinea fowl, 35a80. Dressed poultry — Turkey, pound. 36a43: old toms, 30232 roosters, 16; ducks, 26a82; gees 25; capons, 3isds: medium, ips, 30a32. LS e s oft)—Native and_nearby { firsts, dozen, 34a35; southern, 33, Butter—Creamery, per pound, 50a51; | prints, 51a53; nearby creamery, 45a48 Tadles, 36a38: rolls, 34a36; store pack- ed, 32233: dairy prints, 35a36; process butter, 42a43. 2 { CHICAGO LIVE STOCK MARKET. { GO. February 15.—(U. S. De- eceipts, 12,000 head: active, 20 to 25 higher; bulk desirable 130 to 200 ound averages, 5.50a8.63; top. 8. Dotk 210 to 225 pound butchers, 5.30a 13.45: bulk 240 to 300 pound butchers. 1410a8.25: packing sows, around 7.00: | pigs. ull. 7.25a8.00: heavy-welght hogs. 7.95a8.25; medium, 557 |iight, 5.40a8.65; light lights, 8.00a8.60 packing sows, smooth, 7.00a7.40: {packing sows. rough, 6.75a7.10; kill- }ing pigs. 7.2588.00. 5 Cattle—Receipts, 7,000 head; uneven: | active: beef steers, butcher she stock, leg. 25 > on beef cows and heifers: killing [ rather plain; early top steers, 1 §0.50: welght 1,180 pounds. few loads { matured steers and vearlings, 10.00a 75.25; bulk, beef steers, 8.5 can- ners and cutters, bulls, 10 to 15 higher: | Jeh) ‘calves, 25 higher: gtockers and feeders, slow, steady: bulk, desirable heavy bologna bulls, around '4.90; bulk, desizable veal calves to packers, 12.508 {5.00; goed to choice vealers, upward fo 14.00 to outsiders: bulk,’ canners and cutters, 3.15a4.25; bulk! stockers nd feeders. 6.15a7.15. *Sheep—Receipts, 13.000 head: open- ing fairly active: choice light-weignt lambs, big. 25 higher; early top, 15.35 to packers: heavier and in-between- Erade lambs, slow; two loads 84-pound Xavajo yearings, 12.50; sheep, strong to 15 higher: two loads choice 110 pound ewes, 8.40 to city butchers; feed- | Bre active: two loads cholce 65-pound 1 feeding and shearing lambs, 15.40 to | yard traders. = SAW MILLS AT STANDSTILL. | | l SEATTLE, February 15 (Special).— All the saw mills and lumber camps from British Columbia to the Oregon. California boundary automatically d operations today after a futile i::‘t‘m‘:nst the worst blizzard in all I the history of thls section. This came at a time when mills were at the peak of production and when new orders accepted were far in excess of the l normal capacity of the mills. ADOPT NEW GRAIN PLAN. NEW YORK, February 15.—Repre- sentatives of the grain trade in the produce exchange have woted to ap- point 2 joint.committee of brokers {and exporters to declde on a proposal to reduce the brokerage charge for selling Canadlan and American ex- port wheat, barley, rye and buck- Wheat from % to % cent a bushel. A proposal to reduce the brokerage charge on consigned wheat from 1% to 1 c’em‘aued of adoption, , 3.0044.00; tomatoes, crate, 2.00a Lerries, quart, 20a40; tangerines, hali | ited receipts at a range of 16.00 to! to 50 higher; spots, more; espe-| 1A WORLD SHORTAGE | INSUGAR SCOUTED Wild Fluctuations Blamed on “Cuban Crowd”—Slightly | Higher Prices Likely. BY J. C. ROYLE. Bpecial Dispateh to The Sta. NEW YORK, February lo.—The:s probably will be no world shortage of sugar this year, although thesu:r- plus production will be small. Tt appeared to be the widespread ger eral opinion of those in closest touc! with the sugar industry throughou this country and Cuba today as the sugar situation steadied down afte @ flurry which brought wide changes of price, and manifold charges speculation, manipulation and spread- Ing of propaganda in its wake. Man; refiners and operators retired from the market entirely for the time be- ing. s Many well informed interests de fclared today that there were ind tions that there had been secret Bu- ropean buying of sugar to a grea extent than had been previously re: ized and that greater prosperity i this country means an Increase in pe capita consumption “Cuban Crowd” Blamed. Beet sugar men of Utah, Coloragu and 1daho denied today that there had been speculation engineered by beet sugar interests back of the st den price fluctuations. They labeiec this charge. brought in the east a- spropaganda by the Cuban crowd They pointed out, however, that wh Cuba had started 19 a carry over of 1,000,000 tons and raised ove 4,000,000 tons, t d now been absorbed and that the sugar duction last year had not been he The size of the available suppl lever, they added. was not sutfic jcause for any sudden radical pr {spurt On~ the Pacific |largest sugar refin nia-Hawalian, Western meda, Spreckles and Union drawn from ti et peading turn to normal conditions from w they term “a speculative market All"the coast concerns stated that so far as the west was concerned Lhere was néthing to be feared in the way of a sugar shortage, pointing out that all the sugar from Hawaii and the larger part of the Philippine passes lhrough their hands and is inforced by the California beet sugu production See No Serfous Shortage. Officials of the California-Hawaiia and Western sugar companies, larges importers of cane sugar in the wes declared that 55 per cent of the Ha wailan crop still was unmoved, anc | that present price increases were due ito “speculators running wild on op tions. hey asserted sta {a world shortage were unver {facts. Andrew Brown, head | California-Hawaiian compar that Hawalian tonnag than sufficient to =upply of the west. Michigan beet sugar {today flung back the charge thal had any Land in causing speculative fluctuations in price, responsibility fo which, they assert. rests with sugar futures speculators.” F. ! Hathaway, se of the Mic | ®an_Sugar Co: argest lof beet sugar in_that tior clared today the Michigan compa had done the only fair thing by i custoniers in withdrawing from market. He explained that the price of beet sugar was based on the price of refined cane sugar at Philadel- phia, and that when ecastern refiners { stopped quoting prices for in lde!:vcr.\, there beet sugar maker | suict de ies Slightly Higher Prices. There was reason, Hathaway to expect a slightly gher trend o prices, a compared because of the der {in the carry-over and because the recent icrop in this country wa thirds as large as that of the prev season. He added, however, that jwas no_occasion for i prices. Jobbers in the northwest {being told that when t { supply runs out they will be take: i care of by the beet sugar companies ! who still refuse to sell sugar or Guote | prices—on a day-to-day basis ! " Except for two three of th {larger companies the sugar crop i {the Michigan and Ohio region has ibeen pretty well sold | in casier ncial hurried to dispose of th fand have considerable su; !"The crop of the cane pr the south already has been prices which, while not high a good profit to growers. (CRUDE OIL PRODUCTION . DECREASES INWEEK iSlump of 27,600 Barrels Per Day { Reported—Imports Also Show Decline. r holdings hand vielded | By the Associated Press. NEW YORK, February average gross crude oil production «: {the United States decreased 27.60 | barrels for the week ending Februar 10, totaling 1.719,600 barrels. as com | pared with 1,747,200 for the preced {week, according to the week mary of the American Petroleum In stitute made public today. The daily average production east of the Rock: mountains was 1,154,600 barrcls, a< compared with 1,19 00 barreis, « decrease of 42.600. California produ: tion was 565,000 barrels, as comparea with 530,000 barrels, an increaso 15,000. ‘Mid-continent crude was advancec 10 cents a barrel, now being quotes at $140 to 32.50 a barrel, accordins %o the gravity of the oil. All easter: des were advanced. Bradtford dis ’ $rict, Pennsylvania, now being quotec at 34 a barrel. Guif coast crude was advanced 25 cents a barrel to $1.50 ‘The imports of petroleum _(crude and refined oils) at the principal United Statea ports for the weel. ended February 10 totaled 1,714.262 barrels, a daily averago of 24489 compared with 2,213,838, a daily ave: - S0 of 818,217 barrels for the wee: | ehded February 3. N, & W, WANTS 3,00 CARS: 42 LOCONOTIVES | Railroad Asks L. C. C. for Right to Issue $8,000,000 in Trust Certificates. A plan for financing the purc. of 3,000 new freight cars and forty- two locomotives was presented to the Interstate Commerce Commission t. day by the Norfolk and Western road, Through the Virginia holdinz corporation the Tailroad proposes to issue $8,000,000- in.41: per cent equip ment trust certificates, the paym of interest and principal being gu anteed by the railroad. ) i ¢