Evening Star Newspaper, February 20, 1923, Page 22

FIN RALROAD SHARES | NARKETLEADERS Heaviest Selling for Week ; Noted in Some Groups. i+ Review and Outlook. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, February 20—The stock market ran into the heaviest selling today that it has encountered for fully a week. Speculative senti- ment was very much mixed. Some good judges claimed to have seen signs of important distributive selling soing on for several days, while others maintained that there were too any uncompleted pool operations for yauch of a reaction to be permitted now. One,of the first moves was the talk- ing up of the rallway shares, which had done little in the market for some ilme. This demonstration, as is us- ually the case when the ralls become active, was short lived. 111, while it lasted, it brought such stocks as nadian Pacific, Northern Pacific. Unien Paclfic, Southern ific, Louls. ‘ille and Nashville, St. Louls and San Francisco and Southern railway either up to or above the best prices reached | Am Tobacco. 80 far this year. Industrials Irregular. In the Industrial section the move- ment was very irregular from the start. The street did mot llke the news that Phillips Petroleum di- rectors proposed to increase the pres- ent_ stock by 1,000,000 shaves, and fllips Petroleum broke sharply. the other oils there was con-| derable selling also. The coppers continued to show the optimistic feeling resulting from the advance in the copper metal to 16 nts, but after a further advance in 1he early part of the day they were saclined to drop behind. The sugars 7elt the effect of heavy profit taking., | d most of them went lower., The| steels, cquipments and motors during the greater part of the session did| little more than hold their own. 1 Tobacco Products and Retall Storea | were bid up on reports that when touing into account the undisturbed 41%crest In the United Cigar Stores | ruings were running al the rate of a share on Tobacco Products com- | won. Review and Outlook. The inference that could fairly be! drawn from the course of today’s markets was that financial opinion regarding the situation in the Ruhr bad not been caanged by the debate in the British parllament and the de- feat of the proposal to make a medla- tion offer to the authorities at Paris. | Had flnanclzl judgment taken the | sangulne view of the outcome st tributed to official French and Bel- gian sources, it would have been re- flected both in the movement of ex- change rates and in that of govern- ment bonds. But neither French nor Helglan francs showed any inclina- tion toward recovering thelr recent losses and, while French bonds went highe: the advance was compara- tively ‘trifling. he upward movement continued in sterling and was the most strik-, ing feature of the day. REut a: no time has the vaiuation of the British pound beea based upon developments in the Franco-German struggle. Whatever British statesmen have sald rbout the possible disturbance of the svas within 31 cents a pound of the $4.75 _level, at which it was held by the British treasury throughout the as only 15 cents away from the pre-war parity. But this fresh advance Is merely the unfolding of a situation which has\ jong been clalmed, the keynote of ~hich is that when Great Britain niore than balanced her budget, ccased to run in debt on the foreign trade, and finally arranged for the regular handling of her American debt, she had complied with the thrce cssentials necessary o the restora- ticn of her normal exchange relation with the dollar. can ly be doubted now that complete restora- tion of this parity is only 2 question of tlne. ’ Assoclated Dry Goodn. The 1922 report of Assoclated Dry Goods will appear soon, and it is ex- cted that it will show at least $14 share earned on the common stock, # record for the company. Moveover, Dry Goods has sharcd the unusual perity of the dry goods trade at season of the year when ordi- narlly net earnings have had a sea- eonal drop. One of the first copper statements for the closing quarter of 1922 will be that of the Butte and Superior Com- nany. It will glve a satisfactory ac- | count of operations. Porphyry Copper | “ourth quarter figurcs wiil be pub lished soon and will show decided {m provement in earnings. It was pre- dicted today that 17-cent copper metal would come in March. ! Activity and strength in Western | Union today was attributed to expec- tations of a higher dividend rate. The strect looks for an increase from the | present $7 annually to $8. Earnings of the company warrant a higher | rate { Stromberg Jumps 13 Pointa Some of the individual shares move- ments during the late afternoon were certainly not of the sort to be pleas- ing to conservative sentiment. With 1he utmost that might be sald regard- & the unusual business which the anotor supply companies are doing. a i -point jump in Stromberg Carbu- reior In the space of two days would appear pretty extreme. The pushing up of the fertilizer and | chemical shares might have been de- fonded on the ground that hitherto these stocks have borne little part n the general advance. On the other Dand, It is still a question which has not " been satisfactorlly answered, cther those companies which aw thelr revenue from the manu- | facture of cotton oil have bsen able 10 inatch the advance in the pricen ! of thelr raw mnaterial by anything like a corresponding increase fin prices of the finished product. Jt was noteworthy that the advance in ruilway shares which had been a feature early in the day was not miaintained in the afterncon, despite the anticipation of exceptionally fa- Yorabie traflic return soon to be re- rorted for the month of January. (Copyright, 1928.) —_— PROTEST PRIORITY RULE. I. C. C. Asked to Release 300 Coal Cars for Gerieral Use. An order effective February 12, un- dsr which the Montevallo Mining Company, at Aldrich, Ala, was glven priority rights to the use of 300 coal cars over and above its regular allot- ment during the current period of | gr coal-car shortage, has recleased upon the Interstate Commerce Commission :is week a torrent of protest. Some the complaints, which charge that the preference was unjustified, have no to the White Hou and ribu- t he had formally motified the commission that he con- sidered the priority given to be un- mecessary, and had asked the order yescinded. "CLOTH PRICES STEADY. NEW YORK, February 20 "{g’°"'>~ +~—The market for cotton cloths was momewhat inactive today, but prices were fully maintained in the leading constructiona. The-raw silk market was firm and unchanged here today and a steadiness 6f tone was the characteristic of the Yokohama trad- ing. Prices remained at the level veached Monday, with XXA 13-15 and £0-33 denler leading at $8.80 a pound. . B <oay : ANCIAL.. THE EVENING STAR, WASHINGTO Received by Private Wire Direct te The Star Ofice For Revised Close of Stock Market ’tl 30 Edition of The Evening Star. Adams Expres: Adv Rumley. . Adv Rumley pf. Alr Reductlon. Ajax Rubber Alaska Juneau Allled Chemical. Allied Chem pf. Allis Chalmers Allis Chalm pt Am Agr Chem. AmAgrChemp Am Beet Sugar. Am Chicle Co Am Cotton OIl. . Am Cotton Oil pt. Am Druggist Am Express. ... Am Hide&Leath Am Ice pt 5 Am Interna! Am Linsepd. ... Am Locomotive. 125 Am Loco pf 1 Am Metals. Am Rall Mill pt. Am Safe Razor. . Am Ship & Com. Am Smelting. .. Am Smelting pf. Am Snuffpf. ... Am Steel Fdy Am Sugar Am Sumatra. Am Tel & Teleg. 123 57" 1656% b5% 91 108 Am Tobacco (B) AmW Wk 6% pf. Am W Wik 7 Am Woolen Am Woolen pf. Am Ziac & Lead. Anaconda. Ann Arbor. Ann Arbor p: Asso Dry Goods Atl Fruit ctfs. Atlantic Gulf Atlantic Ref. Atl Refining pf. Atlas Tack Auto Sales. Austin Nichols uto Sales pt Baldwin Loco. Baldwin Loco pf Balto & Onlo. Baito & Okio pf. Barnesdall (A). Barnesdall (B). Beechnut Pack Beth Steel (B) Beth St 7% (n). Booth Flsherie: Erit Empire Stl. m St12d pf. dlson. .. Bklyn Rap Tran 1klyn R Trcifs. Bklyn Un Gas.. Brown Shoc. ... Brunswick Term Burns Bros (B). Butte Copper Butte&Super! Caddo O cane California Pack Calif Petrol. 1143 52 Canad'n Pacific. Case Plow Wks. Case Threshing. Central Leather ntral Leath p? Cent RRofNJ. Cerro de Pasco Certain-Teed Chandler Motor. Chesap & Ohio Ches & Opfwi. Chi & Alton Chi & Alton pf. | Chi & East I11. Chi & Bast 1!l pf Chi Gre: Chi Gre:i Chi Mil &8t P... ChiMi1 &StPpt. Chi & Northwn. Chl Pheu Tool. Chi&Nwnpf... 1 Chi R I & Pacific Chi R I1&P 6% pf ChiRI & P7%pf Chile Copper. Chino Copper-. Cluett Peabody Coca-Cola. Colo Fuel Columbla Gas. Columb’a Graph Colum Graph pf. Com Solvents Com Solvents B. Com; Cor Tabulator Cigar. Consol Gas new . Cons Textile. Cont Can Cont Can pf. Cont Insurance Corn Products Continental Mot Cosden & Co. Crucible Steel. . Cuban-Am Sug. Cub Am Sug pf Cub Cane Sugar. Cuba Cane S pf. Cuban Dom' { Cuban Dom pf. can. Davidson Chem Del & Hudson. .. D Lack & Wstn. Detroit Edison. . Dome Mines. Dupont (E 1) E Elec Stor Bat. ... Emerson-Brant. Emerson-Brt pf. Endlcott-John. . Endicott-Jno pt. Erte. .. . Erie 18t pf. Erie 2d pf. Exchange Buft FamousPlayers. Famous Play pf. Fd Mines & Spt. Fidelity FireIns Fisher Body . Freeport Texas. Gen Am Tk Car. Gen Am Tank pf Gen Asphalt Gen Baking. Gen Clgar Gen Cigar pf Gen Elec.ric. . Gen Elecspl wi. Gen Motors. ... Gen Mot 7% deb. Goody'r pr pf Granby Consol.. Gray & Davis. .> Gt Northern pf.. Nor Ore. . Greene-Cananea_ Gulf Mo & Nor. . Gulf Mo & Norpf Gulf St Steel. ... Hayes Wheel Hendee Mfg. Houston Oil. Hudson Motor: Hupp Motors. Hydraulic Steel. 5% Illinois Central. 115% Inspiration..... 41% InAgaChemical 9% In Ag Chem pf.. 38% Int Cement. 39! InCombustion Intl Paper. Intl Paper (sta) Int Bhoe. Open, High. Low. Close. % 2% 72 72% | Invincible Ofl. Iron Products. Island Ofl Jewel Tex. Jones & L'ghl pt Kansas City Sou Kansas C Sou pt Kansas & Gulf. Kayser (Jullus’ Kayser (J) pt. Kelly-Spr Tir: Kelsey Whee! ,| Kennecott. Lake Erie&W p: Laclede Gas Lehigh Valley. . Lima Locomo Loews Inc. Loft Inc. .. Lorillard (P) Louls & Nash Mack Trucks. .. Mack Truck 1st. Mackay Cos pf. Macy Co : Magma Copper. Mallison & Co.. Manati Sugar. . 4 | Manhat El Sup Manhattan Elev. Manhattan Ects Manhattan Shirt Market St prior, Marland Oll. ... Martin-Parry. . Mathison Alkili. Maxweil (A)... Maxwe!l ( o May Dept Stores MelIntyre Porcu. 2dison pt. . Mex Seaboard. Minn & StL (n). Min St P&SS M 2 | Montgom'y W'rd }oon Motor: Mother Lode. Mullins Body . | Nash Motors. ... Natl Acme. . atl Cloak&sS pt tl Cloak & S.. atl Conduit. Natl Biscult w i. Natl Enameling Natl Enamel pf. Natl Lead pf. Natl Ry of M 2 Nevada Copper. N Or Tex & Mex. N Y Air Brk (A) N Y Central.... NYC&StL2d. NYNH&Hartfd. {NY O & Western Norfolk & West. North American North Amer pf. North Paclfic. .. Ohio Bdy & Blvwr. Oklahoma Prod. Orpheum Circult Otis Elevator. .. 2| Otis Steel. . Otis Steel pf. Owens Bottle Pacific Develop. Pacific Gas & Facific Ofl Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Parrish & Bing. Pennsylvania. .. Peun Seabd Stl. People’s Gas. . ... Peoria & East. . Pere Marquette. Pere Marq pf. .. Philadelphia Co. Phillips Pete. .. Plerce-Arrow. .. Pierce-Arrow rts Pierce-Arrow pf Fierce Ofl 3 Pierce Ofl 188% 114% Pond Creek Coal Postum Cers 1 Fressed Stl Car. Pressed Stl C pf. Froducers& Ref. Prod & Ref rts. .. Pub Servof NJ. Ray Con Copper. Reading. .. Reading 1st pt Reading 2d pf. . Rels Robert. ... Reming 2d pf Replogle Steel. Rep Ir & Steel.. 2ep Ir & St pf. . Reynolds Spring Reynolds Spr rts. Rey Tobac (B).. Rey TobpfB... 1 Royal Dutch. t t Joseph Lead. . St L & San Sran. StL & San Srpt. StL Southwn... | St L Southwn pt San Cecilia Sug. Seaboard Alr L. Seaboard A L pf Sears Roebuck. . Seneca Copper Shattuck-Ariz. . Shell Tr & Tran. Shell Union. Shell Union p Simms Petrol. Simmons. Sinclair Oil Sinclair pf. Skelly Oil. Sloss-Sheflleld South Pacific. So Porto Sugar.. Southern Rwy. . Southern Ry pf. Spicer Mg Co. . St Oll of Callf. StOilof NJ w Sterling Prod. Steel & Tubs pf. Stew't-Warner. Stromberg Carb . 46% |Studebaker 834 | Submarine Boat Superior Oll.... SweetsCoof Am. . Tenn Copper Texas Company. Texas & Pacific. Tex Gf Sulphur. Tex & P C&Oil.. Tide Water Oil. . Timken Bearing ‘Tobacco Frod. .. ‘Tobacco Prod A. ‘Tobacco Prod pf. Trans Contl Ofl. Unlon Pacific. 30 | Union Tank Car 183% | Un Alloy Steel 59 | Unlted Drug 95 |United Drug 1st United Fruit. 40 | Utd Ry Inv pf. Unit Retail Str: U 8 Cast Ir Pip USExpress... U 8 Food Prod. . U S Hoffman Mot U S Indus Alco. . U S Realty U S Rubber. U S Rub 1st pf. Open. High. 17% 0% % B7% 108% 108% % 28% 28% Low. 17% 50 4 20 56% 17% 50% £l 20% 103 101% 108% 108% 8014 561 30% 53% 52% 213 264% 25% 495 49 35% 34% 62 61 4a 44 % 21% 13% 13% 27% 26% 4% 34 96%a 96 13% 12% 491 49 94% 93% 56 bdl 34 33y 69% 69 26% 26% 61% 60 42% 41% 117% 117% 61% 60% 102% 101% 94 9. 4 83% 2% 2% 12% 12% B2 B50% % B84% B4y 113% 118% % 12% 12 1024 U S Smelt & Ref _40% USS! To7% 120 1 Vanadium Corp. Van Raall Cr Chemical 71 €7% 67% 67%|Va-Car Chempf 6 22% 43% 59 24 Y 3% 142% 141% - 6% 5% 90 89 3 36 83 88 D. C, TUESDAY, EBRUARY 20, *1923..- RATE RULING HELP | (2 or= BONDS o ] RAILROAD BONDS - Supreme Court Action Has 684 | STl-I 897 213 ! 30% 56% | 8015 | 9 | 1 9% | 53 Ban| 16% | & | 30 | 57% | 937 | 25% | 6% | 58% | 18 | 21! 26% 49% | { high record today, demand bills being | change market Effect on Today’s Trading. Liberties Unchanged. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, February 20.—Activity | In the bond market was-still confined largely to second grade ind specula- tive isues today. The high-grade de- partment was v@y dull. There were probably two reasons for this; first, the abgence from the city of large buyers of this class of security, and, second, the uncertainty as to the future of money rates. Bonds, quotation for which depends on the current charge for time funds, are apparently stabilized around presen Among speculative issues rails, such as Chesapeuke und Ohlo convert- ible Gs and the obligations for the St. Pauls, were prominent. There has been considerable accumulaiion of late of the former in anticipation of a good Jan- uary earning statement and talk of an increase of the dividend on the com- mon stock. AS to the St. Paul, expecta- tions of a remarkably good showing for January are responsible for the firm- ness in the bonds. ‘Today’s feature among the valls was furnished by the New Haven obliga- tions. Practically all the issues of this road made gains. The New York, West Chester and Bosion 4l4s were up @ point, and the New Haven 6s and the Franc 7s made even larger ad- vances. Of course, the influence here was the decision of the Supreme Court upholding the action of the Interstate Commerce Commission in direciing a 15 per cent increase in the share of New England roads in joint through frelght rates. Among industrials thie feature was a new high for the Anaconda 6s. Re- actlonary lssuds included FEastern Cuba Sugar 7lps, where uncertainty. a8 to whether or not the sugar specu- lation has not been overdone, may have been an influence. Forelgn bonds were rlatively firm. There was very little change in Liberties and what there was, was in & downward direction STERLING EXCHANGE. SOARS T0 NEW HiH Overnight Advance of One and Ii i ! Half Cents Boosts Rate to | i New Level. i By the Associated Press. H NEW YORK, February 20.—Sterling | exchange mounted to another new quoted at §: i. This represents an | overnight advance of one and a half| cents and ie the highest rate recorded since the The normal or par rate is $4.863%. LONDON FOLLOWS NEW YORK | LONDON, February 20.—Sterling exchange reached a new high record at $4.71% today. The rise was attributed in the ex- to operations from New "York, coupled with the senti- mental effect of the acceptances of the debt funding proposals. Every movement to higher level here has simply followed a similar movement In New York, and while the market looking for the present improvement operators here fafled to trace any other special feature to account for the rise. SEEKS ROLLING STOCK. Railroad Presents New Financing Plans to I. C. C. H The Buffalo. Rochester and Pitts-{ burgh railrcad, which proposes to! purchase $2,407,000 worth of new lo- comotives and other equipment, asked the Interstate Commerce Commission | today to permit it to issue and sell | $1,920,000 in 5 per cent equipment | trust certlficates. Cash from the| sale of these recurities, together with other funds at command of the road, will pay for the new rolling stock. RAW SUGAR FIRMER. i Recent Wild Fluctuations Appear to Have Ended. NEW YORK, February 20.—The raw sugar market was firmer in tone early today, but as there were no sales reported prices were unchanged at 5% for Cubas, cost and freight, equal 1o .03 for centrifugal. T§e raw sugar futures mariet open- ed ¥ points lower to 2 points higher, | but soon firmed up on renewed bu ing by Wall street and houses with ! western connections, prompted by the | firmer tone in the spot market. Prices at one time showed advances of 11 to | 13 polnts, but met renewed realizing | and eased off a few points and at midday were 6 to 7 points net higher. i ar. . 185 Mar. oo, & 149 M i Nemours Powder Co., q, Dy Pont de Nemonrs Powder Co. pt, Erie & Pittsburgh.’q. 1 Gold Stock Tel. Co., q. $1. lnve!tlnioflfi'. Co. of 1 rd: Tonopah Heimant € Tonopah S Thrman Ofl Co. mo, 1 BuBEE 508 e o e MAY CLOSE RAILROAD. | an order of the Interstate Com- rvf:-zacommlulon today the Marietta; and Vincent raiiroad will be permit ted to abandon its ten-mile line of rosd in Washington county, Ohio. There is no opportunity, the com- mission sald, for the railroad to pay expenses of keeping the line in opera- tion. Va-C Chem (B). Va IrCoal & C 57 Vivadou. 18% 29% % Wabash ‘Wabash pf (A). Wells-Far Exp. Western Elec pf 1 29% 95! 14% 18% bt Western Union. Westhse E1 & M Whee)ing & L B Wheel & LE pt. ‘White Eagle Oil Will's-Overld pt ‘WisconsinCent. zn 38% 6% 6% 6% T5% h. Low. Last. Call Money..... 5 % b HOURLY .ALESI OF Q’DGKB- 1a.m.. 430 300 716 Youngstn Tub : Sin Pipe Line § | South Bell Tel 55 32% 82 82%| 0 216 216 216 88% 88% 38% Recelved by Private Wire For Revised Clgse of Bond Market see (Sales are in 81, UNITED STATE! Bales, Hig! . Tlowe. Lib 3%4s. 101 64 10150 10164 Lib 1st 4% 9862 9850 9852 Lib2d 4%s. Lib3ddis Lib 4th 4% Victory 4Xs. US4Ks1952,, 9888 9380 9884 9868 9854 9856 [ 78 9996 9994 9996 FOREIGN. Bern 8s. Bolivia 8s. Bordeaux 6s Brazil Tx. Brazil 8s Brazll 7Y Canada G 1926. Canada G138 192! Canada 5s 1931 Canada 58 1952, Chile 85 1946. Chile 85 1926 Chile 85 1941. Chinese Gov Ry 5s. Christianta 88 Copenhagen 5%s Cubablswi. Czechoslovakia 8s. Denmark 8 26 103% 100% 101% 100% 9 104 102% 104 52 109% 90 5 Dutch East I 6562 41 FramericanID 73 9 French Govt 8s. .. .162 French Govt T%s. 167 Halti 6 ctfs 21 Holland-Am Japanese 1st 43; Japanese 24 435 Japanese 4 Jergen U M 6s Lyons s Marseilles 6s. Mexico 5s. Mexico 58 large Moexico 4s.. Montevideo 7s. Netherlands €s. orway 8s Norway 6= ctf: Paris-Ly's-Med 65.12; Prague T¥%s T 1 Queensland Ts. Queensland 8s. Rio Ce Jan 88 1946 Rio de Jan &5 194 Sao Paulo, City, & Sao Paulo,State, Seine. Dept of, 7 Serbs Crots Sioy 8: Soissons 6s. Sweden 6s. .. 3 SwissConfedst8s Toklo &s Ud King' Ud King'm Uruguay 8 MISCELLANEOUS. Ajax Rubber 8s 12 99% AmAgrChem T%s 7 AmCotton Ofl 3s.. 8 AmSmelt&R Istis. Am Sugar Ref 6s. AmT& Tcv 6s. AmT&Tcltrss AmT& Teltrés Anaconcvd T 7s wi. 20 Anacon 1st 6s w i. 290 {Armour & Co 412s. 20 Atlantic Refin 6s. Bell Tele Pa 7: 16 2 107% 1079 9815 98% Brier HSt 1st 5 Bklyn Edison . Bklyn Ed gen 5s. . Bush T Bldg 5s'60. Central Leather s Cerro de Pasco 8s. Chile Copper 6= Chile Copper CinG & I 51 Con Coal Md Cub Cane S cvd Det Edison ref 63 Du Pontde N 7 %s. Duquesne Lt 7%s. Duquesne Light 6s E Cuba Sug 4. .. Empire F&G T18. Fisk Rubber 8s Gen Elec deb 3. .. Gen Refract'es fs. Goodr'h (BF) 6%8. 16 Goodyear Tr 85 '31.114 Goodyear Tr 8s'41. 10 Humble O&R 515. 16 Indiana Steels... 2 Int Mer Marine 6s. 68 Int Paper IstisA. 1 Int Paper 1st5sB. 6 108% 108% 96 96 8814 9874 1391 13815 10215 102 2 108% 108% 107% 1074 1041 1044% 107% 107 94% 93% 1075 107 102 102 9% 99% 101%"101%4 104% 103% 117 116% 983 98% 101 101 867 86Y 86% 86l 86% 86 106 1057 109% 109% 99% 99% 117% 117% 98 9T% 961 963 09% 99% 108 107% 89 88% 98 107% 104% 07% Julius Kayser Ts.. Kelly-Sp'gfleld 8s. Lackaw'a § 53 °'23.. Manati Sug sf 7 exican Petrol &Co1 ng Tel 110% 110% 991 99% 106% 1056% 985, 93% 943 931y % 91 NY Tel 6s'4 1 N Y Tel s a=BuneniaE il Rean o 943 91 107% 91% 01% 108 10114 107% 127 85 N States Pow 53. Northwst B Tel Pacific Gas & B15 PacT&T Packard Motor Phila Co ref 6= A Producers & Rt §; Producrs & IR §s w Public Service 5s Punta Alegre Ts. Sinclalr Of1 7: . Sin Crude Oil 52as. 108 107% 91% 814 9% 91% 108 107% 101% 101% 107% 106% 127 127 85% 85 112% 112% 100% 100% 98 9T% 87 86% 95% 956% 101% 101% 106% 106% 102% 102% 103% 102% 104 104 3. DamaBasn So Por Rico Sug 7s. StOfl of Calif Ts... ‘Steel & Tube 7 Tide Wat Oil 6 Tobacco Prod st Toledo Ed'n 1st 7 Union Bag & P 6s.. Unit Drug cv 8s. U SRub lst rf 5 T S Rubber 71 USSteelstss. Utah Pow & Lt 978 97 95% 94% 109% 109% 97% 9Tk 9TH 101 1003 101 108% 103% 103% 96% 95% 96% 102 101% 101% 95% 109% Wilson & Co 1st 65 10 Wilson&C cv T%s. 24 ‘Wilson & Cocv 6s. 15 Winch'tr Ams 745 6 WALL STREET NOTES. - Ianufl Retail Stores Undergoing Dissolution. Special Dispatch to The Star. NEW YORK, February 20.—It was announced on best authority today that United Retail Stores is under- going dissolution, the plans being to have the concern dissolved as soon as necessary legal arrangements can be made. Eftective today prices on cold drawn steel bars and shafting have been ad- vanced $3 a ton to a base of 2.80 Pittsburgh. The McCrory Stores Company show- ed a, profit of $1,165,069 for 1922, Regular quarterly dividends toda: Phillips ®atroleum, Middle States Ofl. Todd Ship Yards,~Fairbanks, Morse & Co. preferre New York bank clearings, $871,000, balances, $77, 0; N 000; New Y Bank credits, $§8,000,000; Boston bank clearis $70,000, diyidend today: California Pe- troleum common, Consclidated Cigar Homestake Mining, ory Stores common, Mexican Sea- board Ofl, Piggly Wiggly Stores A shares, ,Pittsburgh, Youngstown and Ashtabula _preferred. Rand Mines ‘American, Standard Ofl of California. Direct to The Star Office. Edition of The Evening Star. HAILIOA% 5 ~ Balen. Ann Arbor 4s. o 9846 9834 9838 AU 10016 10012 10016 (B&O Enssas: 6 B&O PLE&WV 4s. 4 B& O8SWadlv 3%s. 156 BkIyn R T 45 2002. b Bklyn R T 6s. BKlyn R T bs ctt BKlyn R T 78 '21 BKIRT 721 ct s Canadian North Canad North 6% Canad Pac deb 4 Central Pacific 4s. Ches & Ohio cv 5s. Ches & O cv 4%, Chi B&Q 1st rf 5 Chi & E 111 gn Gs. . ChiGreat West 4s. Chi MES P rf 4is, Chi M&St P ov 6s. . Chi M&St P 45 '25, ., 25 ChIM&S P cv 4128, 1 CM&StPgn4 Chi Rys ts. . CHIRT& Pacrf ChiUn Sta 448, .3 Chi & W Ind cn 4s. fers? A Cleve Term 6148 Colo & Sou 435, Cuba R R Gs. on 4s. ll?&r}oxnrfis.. orie gen 4s. Erie conv 4s A Eriaconv 45 D Grand Trunk Ts Gr North gen Gr North gen 53%s. 13 GreenB& Wdb B. 10 Havana ERL&P 53 1 Hud & Man ref 5s. 36 Hud & Man aj 5s... 51 Il Central ref 4s.. 14 111 Central 514 Int Rap Tran 58 Int R Transit 7s Int & G Nor aj 6s. Towa Central rf 4s. Kan City Ft S 4s. . Kansas City S 3s. . Kan City Sou s. .. Kan City Term 4s. Lake fifiore 45’28, Lake Shore 4s5°'31. Lehigh Valley 6s. . Louis & Nash 535, Manhat Ry cn Market St en 5s. .. Mil El Ry & L Gs. . M & St L 1st rf 4=. tds. ... MK&TprinssA. MK&T6sC. 2 MK & T adj 5s. Mo Pacific 6s. Mo by . 18 Y Cen LC el 3%s. 20 w Haven cd 6s.. 45 Y W & Bos 4155, orfolk & W cn 43, O Short Licn 5546 Ore Short L ref ds. Ore-Wash 1st rf 4s 36 Pennsyl gen 5. Pennsyl gen 4 Pennsyl 633 Pennsyl gold Peoria & E inc 4 Pere Margq 1st 5s. . Reading gen 4s. ... Rio Grand W cl 4s. St L IM&S R&G 4s. 914 110 109 Seab’d A Liref 4s.. Seab’d A L adj 5i Seab'd A L con 6: Sou Pacific cv 4s. Sou Paclfic ref 4s Sou Pacific clt 4s. . Southern Ry 1st 58 663 4 % | Southern Ry gn 4s. 43 Southern Ry 6%s. [ Third Ave ref 4s Third Ave ad; & Union Pac 1st 4s. Unlon Pac 1st rf 4 { Union Pac cv 4s Union Pac cv 65 Virginia Ry 18t 5: VaRy&Plstss.. Western Md 4s.... Western Pacifics. b West Shore 1st 4s.. 11 Wheel & LEcn 4s. 11 Whel &LErf 4%s8. 3 Wisconsin Cent 4s. 1 TOTAL SALES (Par Value): 1la.m.. 3140000 12 noon b5 188000 1p.m.. 6506000 2p.m.. 8008000 CONSUMPTION OF WOOL NEAR PRE-WAR STATUS | By the Associated Pres BOSTON, February 20.—The con- | sumption of wool and the stocks of 67 60% 8 97% | wool in hand are now near pre-war | { conditions, the National Association {a! ‘Wool Manufacturers was told at ries. “While the total of wool con- (1918, he said, “that of domestic wools is distinctly higher. The con- ! sumption of carpet grades has had a marked increase, which has continued throughomt the past year. “The usual uncertainties concerning the administration of a new tariff have arisen. The regulations con- cerning the importation of carpet wools provoked adverse criticism. The ruling making the rate of duty on carbonized wools the same as that for tops has been justly protested by those using these wools, and the more recent ruling relating to the impor. tation of wools from Iceland is chal- Jenged, particularly as it is based upon the classification by usage rather than by blood, or that accepted by the trade. ‘Apart from these specific cases of uncertainty, and with the main ques- tion of the Iff settled, and because of underproduction during the last two and a half years, there is a spiri of hopefulness for syccessful year to com —— LIVERPOOL COTTON. LIVERPOOL, February 20.—Cotton —=8pot, quiet; prices steady; goo middling, 16.20; fully middling, 16.10; middling, 16.00; low middling, 15.75: good ordinary, 15.25; ordinary, 14.95. Sales, 6,000 bales, 'including 3,400 merican. Recelpts, 4,000 bales, in- cluding 2,300 American. _ Futures closed qulet but steady: February, 15.95; March, 16.54; May, 16.42; Jul 15.21; October, 14.06; December, 13.7 Janugry, 13,84, 100% | ®{bearish statement issued by one o its annual meeting here today, in the | ireport of Secretary Walter Humph- | | sumption 1s normal as compared with | | ‘Hogs—Receipts, t| stockers an: FINANCIAL. 80% | market, 1t was reported, and heavy recalgu and lower prices are predict- ed en weather conditions improve. Eggs were quoted at 46 a dozn. But- ter prices were quoted at 55 to 60 cents. Practically no changes in the meat market were noted. Fruits and vege- tables are plentiful and reasonable prics are reported. Eggs—Strictly fresh, selected candled. per dozen, 40; average receipts, 40. ld storage egs, 27, ry—Roosters, per ., g turkeys, per Ib. 25a30; spring chici- ens, per Ib., 33a35; keats, young, each, fowls, each, 2 Dressed poultry—Fresh-killed chickens, per Ib.. 38a38: h 27a28; roosters, per 1b., 18al ver I 5; keats, young, each, 70af Live stock—Calves, cholce, D 1 14; medium, per Ib.. i3al§%} thin, per .. 6a3. Lambs, choice. per Ib.. 1 lve pigs. 3.00a8.00 each: live hoEs. pero 1b., 935, Teen fruits—Apples, per bbl., 47.00; Deliclous, NS per bbL,”6.008 .60." Califo . per 3 5.0048.00;" Florida, 4008550, Lemons. per box, 5.00a6.0i Grapefrult, 4.25. Tangerines, 3.50a5.00. Vezetables—Potatos li;%o'llfl-o%fi: per eack, 2.00a3.1 .00.” Sweet potatoes. Carolina, 75a1.50; nearby, 2.50a3.00. Let per crate, southern, 75a Romaine lettuce, per crate, 1.50a Iceberg lettuce, per crate, 3.50a - Cabbage, northern, 2.G0a3.00 per 100 1bs.; nearby cabbage, per bbl., 1.60a2.50;" southern, 2.2523.00 per basket. Ewgplants, per crate, 2.505.00. Toma- t0es, per box, Florida, 2.50a6.00. Beans, 2.0024.00 per basket. 85.00 per basket. Peppers, Florida. 3.00a4.00. ~ Kale, 2.00a2.50. Spinach, per Celery. crate, da, .50, Brussels sprouts, 25a35. = Squash. 2.00a2.50. GRAIN AND PROVISIONS. BALTIMORE, February 20 (Spe- 1).—Potatoes—White. 100 pounds, 130 pounds, 90a2.25; sweets, | . '1.25a2.00; bushel, 50a60; yams, barrel, 128aL.75; bushel, 60as5; beans, us| 7 26.00; brussels sprouts, quart, 25e30; cabbage. hamper, 2.3023.00; savoy. 1.00a1.25; carrots, basket, 40 canlifiower, 1.76a2.25; celery crate, 1.50a3, cucumbers, crate, 5.00a8.00; eggplants, crate, 4.0 a7.00; horseradish, bushel, 3.00a3.50; barrel, 1.50a1.75; lettuce, basket, .75; onions, 100 pounds, 1.25a2.75 oysterplants, hundred, 7.0028.00; par- snips, buehel, 1.40a1.50: peas, ket, 3.0024.0 peppers, crate, 3.00a4.5 radishes,’_basket, spinach, bushel, 75a1.00; squash, cr 3.002 000 tomatoes, orate, - 3 ¥0a6.00; turnips, 5025.50; basket, 35a30. Apples—Paclced, barrel, bushel, 76a1.50; loose. 100 pounds, 1.50 a2.00; ' basket, 50a75. Cranberries, barrel, 8.00a12.00; grapefruit, box, 2.50 a3.50; oranges, box, 3.5024.50; straw- berries, quart, 20a40; tangerines, half strap, 2.50a4.00. Selling Prices at 12:30. Wheat—No. 1 red winter, spot, no quotations red winter, spot, 1.36% 3 red winter, spot, no quo- 0. 2 red winter, garlicky, 343 3 red winter, garlicky, no quotations: February, 1.34%. Sales—None. Corn—Cob corn, new. 4.50 per bar- rel; contract, spot, 85 per bushel; No. 2 corn, spot, 86%; No. 4, no quota- tions; track corn, vellow, No. 3 or better, 90a91 per bushel. Sales—Bag lot of white, delivered, at 90 per bushe! 50 bushels No. 3 white at 85; 1,030 bushels N low at 85 Oats—White, bushel: No. 3, 54a54%. Hay—Receipts, 9 tons; for the bet- ter descriptions of timothy and light there was a fair demand under lim- ited receipts at a range .of 16.00 to oS, 1, 3 yel- per + | 20.00 per ton. TODAY’S CHICAGO PRICES. CHICAGO, February 20.—Wheat| avcraged a little lower in price to- day during the early dealings, an unexpected downturn in Liverpool; quotations having some bearish eftect here. Better weather conditions for the domestic winter crop tended also ! to caso the market. On .the other hand, the upward movement of ster- ling exchange rates encouraged some {buying, but was ascribed partiy to| lack of export business, and to that | extent was sald to be no stimulus for | higher prices on grain. Declines in wheat resulted from re- | newed eastern selling and from a the largest individual traders here to | that world's prohable carryover July | L, would equal the pre-war average. {However, there was but little for sale in the leat half of the day and {the market rallied. The close was }unseuled &t the same as yesterday's {finish to % cent lower, with May, {1203 to 1.20%, and July, 115% to - | quarter. DAIRY PRODUCTS. ! BALTIMORE, Md. February 20! | (Special) —Live poultry—Turkeys, 1b., 130a38; old toms, 25; poor and crooked | breasts, 20; young chickens, and leghorns, 21a2i bens, 23a24; small and leghorni 22; old roosters, poor and crooked breasts, 20; |young chickens, 30a3: 1d and mixed, 26a28; old roosters, 16; ducks, 26a30; |geese. 20a25; capons. 37a38; medium, 135236; small ‘slips, 30a32. i Eggs—Loss off; native and nearby {firsts, dozen, 37ad8; southern. 34a3s. Butte amery fancy, 1b., 51a52 rints, 52a54; nearby creame: {ladles, 36a38; rolls, 35a36; store pack. od, 32a38; dairy prints, 35a36; proces butter, 42a43. 4 | CHICAGO LIVE STOCK MARKET. | CHICAGO, February 20.—(United States Department of Agriculture)— 42,000 head; fairly active; 10 to 25 higher than Monday's close; bulk 170 to 210 pound averages. 8.208.30; few 150 to 160 pound av- erages, 8.35; bulk 216 to 2256 pound butchers, 8.10a8.15; bulk 240 to 325 pound sverages, 7.85a8.00: big pack- ers bidding less; packing sows, 7.00; desirable 80 to 120 pound pigs, 7.25a 7.15; heavy weight hogs, 7.80a8.15 medium, 8.0028.25; light, $13a8.35; light lights, 8.00 packing sows, smooth, _ 6.90a7.36; _packing sows, rough, 6.5027.00; kiiling pigs, 7.26a8.00, Catile—Recelpts, 12,000 head: beef cers slow, draggy: early trading about in line with Monday's average ; yearlings in best demand early top matured steers, 9.75; some held higher; bulk beef steers and yearlirg of quality and condition to sell at 8.26a9.50; killing quality rather plain; she stock fairly active; early spots other rable veal calves to packi 500; some 100-pound. kind at 12.00; { choice_kind upward to 14.50 to ship i ulk desirable bologna bulls t stokers and fee a7. ‘Receipts, 17,000 head; choice ‘wool lambs st other kind weak; tending lower; early top, 15.35 to city butchi 16.15 to packers; 1ib- eral supply clipped lambs; early sales, 12.00212.50; good 87-pound fed ling wethers, 12.50; some clipped, pound yearlings, 10,25; sheep, slow, weak; irable 110-pound ewes, 800; some held higher; feeders quiet; nu early sales. 3 | I i ket experts extend to lto five-eighths cents a gallon. Grain, Produce and Live Stock Washington Whelesale Market. This morning’s snowfall ‘was sug- gestive of anything other than lower prices. In both the egg and butter market prices increased, eggs, 2 cents & dozen and butter, 2 cents & pound. Cold weather has prevented many haulers from bringing eggs to the GREAT INDUSTRY BEING FORGOTTEN Maple Syrup and Sugar Out- put Far Below Possible Production Total. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, February 20.—Scien- tific co-operative marketing is all that is saving one of the earliest and most representative of American in- dustries from slipping from beneath the producers. The production of maple sugar and maple sirup Lau been almost as typical of American life as the production of tobacco, but while other industries have grown this year until production limits are being reached, thousands of pounds of maple sugar which might be pro- duced will never come on the market The maple sugar industry is in the period today when production should be at its height, but the flow from the spoon to the snow bank, which used to signify the fact that the transition from sap to sirup had been completed, has dwindled to a mers trickle as compared with early days Even the spurt. which the market for raw and refined sugar has taken within the last ten davs, has not sufficed to speed up the maple suga) market. The carry-over of the pro- duction from New York state and Vermont is far from heavy, but the commodity which was once’ the uni- versal sweetener from Maine to Flor da now has limited market. Unfamiliar to New Consumers. The producers of New York and Ve: mont, which supply nearly one-half of the total output of the country, declared today that the new generation had bee: weened away from the universal swee’ meat which formed a staple of dlet fo the early pioneers. Attempts to cor vince them were in vain they sald be cause they believed that pure maple sirup was thin and watery and prob ably adulterated, as compared with cane and corn sirups. Although it requires forty gallons of sap to produce one ga lon of sirup the real product is nor thick. Production Still Unstrained. The demand for mapie sug: i sirup declined steadily from 1865 t. 1917, when the remarkable shortage of cane’ and beet sugars led to a partia rehabilitation of maple sugar and siruy as a common sweetener. Since the armis tice the product has again declined popularity but its possibilities are st lly unlimited in the norther There are five varieties sugar maples, although only two, rock maple and the black maple, produce the very highest quality of sap. It s useless to tap a tree less ¢ thirty years old and full results are obtainable from a tree less than fort: Yet the tapping does not injure ti tree and there are examples in th state which have been tapped for 1% years without injury. No sugar maple grows south of Kentucky, and the best sirup is pre duced in ‘the higher altitudes in 8oil containing a good percentage - mineral. This state this year wii produce over 13,000,000 pounds o sugar, over one-third of the tota! production of the United States, bu it might produce & far greais amount. The restriction and marke: Ing methods which insure profits producers are due to the Maple Pro ducers Co-operative Association, w headquarters at Syracuse, and Vermont association, by Leon L, Mulholland. The tremendous vogue whith maple rinks have attained at soda fou tains has not helped the industry, the larger part of the maple airup served over soda fountains is syn thetic. Cold Smap Checks Price Fall The severe slump in prices whic had attended shipments of southe frult and vegetables recently hasbeen checked for the time being by the cold weather, but as it has become evident that'severe damage to pro ducing sections in the early bearinz belts has not resulted, market experts today predicted that strawberries and other early proClcts would fall to lfi\alnllh’l top prices in northern mar- cets The potato growers and app. growers have little to look forward 10 as a result of late marketing 1922, crops. “Better luck next yea: is the most hopeful remark that ma: - them toda Canners, however, are looking for- ward to a bright season in spite of advances in tin and tin plate for the pack of last year, which, after han ing like lead while the wholesale an retail grocers felt out their cu: tomers, has been well cleared from the warehouses. Tremendous Steel Demand. PITTSBURGH, February 20 (Spe- cial).—Demand for steel is so exten sive that makers already are turning their attention to orders for the third Many mills are practically sold up for second quarter produotio; and premiums for inmediate delivery are being offered. The tendency of steel pricas is still upward and mah ers are concentrating on an effort to prevent a runaway market in_some lines. Clerks are working nights 1o book the crders coming in. Market for Oils Firm, HOUSTON, February 20 (Special) The recent 'advance In the prices of coastal crude oil has brought a firm tone into the lubricating oils marke! One refiner has just closed a contract with eastern firms at advances of hal? Gas oil is up half cent and somo refiners are sold up to midsummer. Fuel oil here has advanced 25 cents a barrel to $1.60 and $1.75. . Car Loadings Sear. ST. PAUL, February 20 (Special). The storm of last week has no checked business advancement in the northwest. Wholesalers and manu facturers are doing far more business than a year agq and retall trade ! the Twin Cities is active. Car load- ings on the northwestern railroads are running from 15 to 20 per cen! heavier than in the correspondine period of 1922. Quaker City Building Pl PHILADELPHIA, February 20 (Spe cial).—It is now estimated that the building construction program in th city this year will exceed $135,000.000 Of thig sum about $60,000,000 will go into dwellings, $11.000,000 into new office_bufldings, $8.000,000 into public schools and $10,000,000 into factorie: and $5,000.000 into apartments. There is not a liberal supply of any building materials in sight and indications are that prices will increase rather tha decrease. Rail Equipmént Improved. UIS, February 20 (Special) RaslT ‘a‘gs in this section report & lten;; increase in effective motor power, chiefly as a result of rebuild- ing and repairing activities and of. new equipment purchases. The ton nage moving capacity of the carrie: will be considerably greater in th. next thirty to sixty days than at an time in a year. Still equipment is no: expected to meet the demands of commerce. New $3,000,000 Comcern. KSBURG, W. Va., Februar zoc(ls‘::::mn.—'rha Consolidated Powe: and Light Company has been organ d to take over the Consolidated Light, Heat and Power Company Huntington. The new cencern has been incorporated with a capital of ,000. 5,09, (Copyright, 1928.) NEWSPAPER CHANGES HANDS. LANCASTER, Pa., February 20— The Lancaster Examiner-New Era has been purchased by Paul Block of New York and M. F. Hanson of Du- iuth, Minn., publisher of the Duluth Herald, the latter has announced. Arthur D. Marks of Washington will be associated with Messrs. Block and son in the newspapers. he transter is to be effective from Feb- ruary 1. th