Evening Star Newspaper, February 21, 1923, Page 24

*,:24 e g, T NEW HIGH MARKS SCORED IN STOCK Railroad and . Oil Shares . Higher—Coppers Qu?et. Caution Noted. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, February 21.—During the greater part of the time on the stock exchange today the tendency of prices continued upward. Tradfng was active at all times, and while an increasing number of people were commencing to look upon some of the recent advances as ex- cessive, there was no evidence that this feeling of caution had spread at all widely. At least it did not show in any desires to sell or in any check upon numerous pool opera~ tions that were going on. Many New Highs Renched, Many new highs for the year were reached, some of them in the railway list, but the majority among the industrials. 5 Louisville and Nashville had_an- other remarkable jump across 151 in antleipation of early favorable action upon stock dividend which was voted in the summer of 1921, but which has not yet received the sanction of the Interstate Commerce Commission. The only other rails to selves were Atl ‘as the principal owner of Louisville res naturally sympathized with the strength in the latter, and Gulf, Mobile and Northern preferred on talk of the heginning of dividends and a possible adjustment of the 18 per cent accumulation of back dividends. » Also Strong. Qid_better as a rule, but failed to respond to the in the copper metal to Ol shar: the coppe: further eclared ahead at the rate of §2 for an entire year, the street found an excuse for the move across 40 in the statements from quarters interested in the stock that earnings would justify a considerably larger distribution. Iron products went through 51 for the first time on intimations that the re- capitalization plan, involving the ex- change of the present shares into a new dividend paving preferred stock and a new common, is nearing con- summation. Review and Outlook. Tt was to he said for tod stock market that where it went forward it was moving under previously ac- quired momentum, rather than be- cause of any new incentive. Call money was somewhat higher, but this, N0 more than the slight hardening of rates a week ago, had any influence culative operations. lative community is not afraid of the money market shutting down when it sees how comparative- Iy little the rediscount facilities of the federal reserve banks have been availed of by the combined rise in se- curity and commodity prices during the t two months, The check, when it finally occurs, is much more likely to come from some other direction. If last year's experiences are worth anything as a guide, a stage ix finally reached where peculation is frankly recogn the consequence is a process of public cleaning’ like that which went on in June, in 1922, again, in the following November. may not yet approached such a danger point but it is certainly true that there have been many instances during the last week or two 'wi e . individual stocks have been:pushed ahead with a recklessness which usually in- volves an unpleasant sequel in the end. Cotton at New High. Another new high record for cotton was one of the features of the day. The current upward swing is mainly on account of the rise-of a growing home consumption at a time when sup- plles are abnormally low. It is not easy to set limits upon a movement soverned by such a combination of in- fiuences. But one aspect Wall street feels that it can safely forecast, and this is a furthér expansion in gen- eral business throughout and with it largely increased earnings for the southern carriers. = American Agricultural Chemical sold at a new high for the year, ap- parently on the broad theory that the outlook for the agricultural chemical und fertilizer companies seems more promising because the purchasing power of the farmers has improved. However, in some quarters the rise in the stock is mot accepted as an indication of any radical change for the better in. the earnings of this company. The 1922 report is ex- pected to show something left after iliterest charges, while in 1923 the preferred dividends will be barely covered, according to the same estimates. Still Another Steel Merger. Jt was learned today that the close working agreement between Replogle Steel and the Wickwire Spencer Company is likely within the very near future to develop into the pur- chase of the latier company by the former. The Replogle people, it is understood, have about concluded ar- rangements for the underwriting of a moderate amount of stock from the treasury to take care of the Wick- wire purchase on a basis which should benefit Replogle. The matter is re- ported to be in the hands of one of ! the largest banking groups. Light on Marks’ Rise. Announcement that through an agreement between the German gov- ernment and German bankers —ar- rangements had been perfected for a 200,000,000 gold mark internal loan to be guaranteed by the Reichsbank threw a good deal of light upon re- cent recovery in the mark. The amount, however, is too small to have much further effect, unless it turns out to be the precursor of other simi- lar loans The attempt made in some quarters ters today to read into this loan an independent step toward settlement of reparations was pretty far feched. Mark exchange went higher again and so did francs in the early part af the d. but the rise in the latter was checked later on when It was officially decided that Germany was about to ask for an _international conference at London. Sterling made further progress toward gold parity With the dollar, the demand rate get- ting up to $4 i (Copyright, 1923.) —_— FOREIGN EXCHANGE. : Februars 21, 1923—11:45 a.m. (Quotations furnished by W. B. Hibbs Nomiial ue. W & Co.) ; Selling checks fa0m. poun s Montreal, doll 4 KF the Associated Press. = NEW YORK, February 21.—Forelgn exchanges firm. Quotations: Great Britain, demand, 4.71%; cables, 4.72; dixty-day bills banks, 4.69% Rrance, demand, .0614; Haly, demand, .0485; Belgium, demand, .05 Germany, ihand, 883, , demand, .157 Greece, demand, o Poland, demand, 000025, Czechoslovakia, demand, .0296. Argentina, demand, .37 wind, 1162, Ve that the present market has! the south, | | FINANCIAL. NEW YORK STOCK EXCHANGE "~ THE 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. . Allis Chalmers. . m AmAgrChem pf. Am Beet Sugar.. Am Beet Sg pf. Am Bosch. . Am Brake Shoe. Am Cotton Oil pf. Am Drugglst. ... Am Hide&Leath AmHide&Lea pf. AmIce. Am Linseed. Am Locomotive. Am Metals. 2 Am Metal pf. 1 Am Roll Mill pf. Am Safe Razor. . Am Ship & Com. Am Smelting. Am Smelting pf. Am Steel Fdy. .. Am Sugar. Am Sumatra Am Tel & C: Am Tel & Teleg Am Tobacco Am Tobacco Am Tobac pf (n) Am Water Wks. AmW Wk 6% pt Am Woolen. Am Woolen pf Am Writ Pr pt Am Zinc&Ld pt. Anaconda. Assets Realizn. . Asso Dry Goods. Atchison Atchison pf. . Atlan Bir & Atl. Auto Sales. .. Baldwin Loco Balto & Ohio Balto & Ohio *Bank of Com. . Barnesdall (A). Beechnut Pack. Beth Steel Beth Steel (B).. Beth St1 7% (n) . Beth Steel 8% pf Bklyn Edison. .. Brooklyn Ed rts. . Bklyn Rap Tran BKlyn R Trctfs. Bklyn Un Gas. . Brown Shoe. Burns Bros (B). Burnsprpf (B).. Butte Copper. Butte&Superis California Pack. Calif Petrol. . Calif Petrol pf Caliahan Zinc. . Calumet & Ariz. Canad'n Pacific. Case Plow Wks. Case Threshing. Central Leather Central Leath pf CentRROfNJ. Cerro de Pascq. . Chandler Motor. Chesap & Ohio. . Ches& Opfwi. Chi & Alton..... Chi & Alton pf.. Chi & EastIll... Chi & East Il pt Chi Great West. Chi Great W pt. Chi-Mil & St P.. ChiMil&StPpt. Chi & Northwn. Chi & Nwn pf... 1 Chi Pheu Tool Chi R I & Pacific Chi R I&P 6% pt ChiR1 & P7%Dpt Clifle Copper. .. . Chino Copper-. .. Cluett Peabody. Cocoa-Cola pf. Colo Fuel....... Colo & Southern Columblia Gas. .. Columb’a Graph Colum Graph pf. Com Solvents A. Comp Tabulator Corn Products. . Continental Mot Cosden & Co. ... Crucible Steel. . Crucible Steel pf Cuban-Am Sug. Cub Cane Sugar. Cuba Cane S pf. Cuban Dom’ican. Cuban Dom pf. Davidson Chem. De Beers.. Deere Co pf. . Del & Hudson... D Lack & Wstn. Detroit Edison. . Dome Mines Dupont (ET)... Elec Stor Bat... Emerson-Brt pf. Endlcott-John. . Erie. .. 5 Erie 15t pf : Erie 2d pf. Exchange Buft FamousPlayers. Famous Play pf. Fd Mines & S pf. Fidelity FireIns FifthAvBusw 1. Fisher Body. ... Fisher B of O pf. Fisk Rubber.... Fleishman. Freeport T 7en Am Tank pf Gén Asphalt. ... Gen Asphalt pf. Gen Baking. ... .. Gen Cigar .. Gen Elecric Gen Elec spl w 1. Gen Motors. ... Gen Motors pf. Gen Mot 6% deb. Gen Mot 7% deb. Gimbel Bros. Glidden. .. Goldwin@orp. .. Goodrien. . . .i.: - Goody'r pr pf wi. Granby Consol.. Gray & Davis. .. Greene-Cananea Gulf Mo'& Nor. . Gulf Mo &Norpf Guif St'Steel. ... Hartman Corp. . Hayes Wheel. ... Hendee Mfg.... Homestake..... Houston Oil. ... Hudson Motors. Hupp Motors. .. Hydraulio Steel. Iliinois Central. 111 Central pf. .. Inspiration. 41, | Interboro Met Interborough pf Interbor RapTr. 1InAgaChemical In Ag Chem pf.. Int'M Marine pf. Int Nickel...... Open. High. Low. Close. 72% .72% 72% 72% | Intl Paper. 17% | Intl Paper 50 |Int Shoe. 5% | Kan 77 |Kansas & Guif. 1% 1, 98% | Kayser (Julius). 43% 116% | Kayser (J) pf... 101% 1881 | Kelly-Spr Tire. . 8 * | Kelsey Wheel. 17% | Kennecott. . 321, | Keystone Tire. 9%, 71 | Kresge (SS)... 287% 12% 1y W 711 |Leclede Gas. ... 109 ' | Lake Erie&W pt 89 |Lee T & Rubber. Lehfgh Valley. . Lima Locomo. .. Mack Truck 2d. Macy Co. . 4 Magma Copper. Mallisong& Co.. Manati Sugar. . Manati Sugar pf Manhat El Sup. . Manhattan Elev. Manhattan Ects Manhattan Shirt Market St Ry... Marland Oil. . Marlin-Rockwl. Martin-Parry. . Mathison Alkili. Maxwell (A) Maxwell (B) May Dept Stores MecIntyre Porcu. Mex Seaboard. .. Mex Sbd ctfs Miami Copper. Middle St Oil Midvale Steel. 31 | Minn & St L (n). 21, | Min St P&SS M. 122 Mstpa Mo, K&Twi... Mo, K & T pf wi. 143 | Mo Pacific. . 33 | Mo Pacific pf. 315 | Montgom'y W'rd Moon Motors... 22% + 139% | Mother Lode 18% 6014 Nash Motors. ... 104% 298 | Nashville&Chat. 122 30% | Natl Acme...... 16 631, | Natl Biscuit wi. 43 65 | Natl Cloak & S.. 66% 66% | Natl Enameling 69 Natl Enamel pf. 100% Natl Lead. .. Natl Lead pf.... Natl Ry of M 2d. Nevada Copper. N Or Tex & Mex. N Y Air Brake. . N Y Air Brk (A) N Y Central.... NYNH&Hartfd. 21 NYO &Western 20% Norfolk & West. 116% Norf & West pf. 78 North American 114 North Amerpf.. 4% North Pacific... 79 Ohio Bdy & Blw. 9% Oklahoma Prod. 2% Orpheum Circuit 20% Otis Steel....... Owens Bottle. .. - Pacific Develop. Pacific Gas & El Facific Oil . Pac T & Tel p Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Pennsylvania... Penn Seabd Stl. People's Gas. . Pere Marquette. Pere Mara pf. .. { Philadelphia Co. | Phillips Jones pf Phillips Pete. Pierce-Arrow. .. Pierce-Arrow rts Pierce Oil.... Pierce OIl pf . ... Piggly-Wiggly. Pitts Coal . Pitts & W Pond Creek Coal Porto Rico Tob. Pressed Stl Car. Froducers& Ref. Prod & Refpf. Prod & Refrts... % ub Serv of NJ. 101% Pub Serv pf.....108% Pullman Co. ... 130% Punta Alegre... 57 PureOil. .. . Pure Oil 8% pf. Ray Con Copper. Reading...... : Reading 1st pf.. Reading 2d pf 7 | Reis Robert. Reis Robert Remington. Replogle Steel.. Rep Ir & Steel.. Rep Ir & StI pf.. Reynolds Spring Reynolds Spr rts. Rey Tobac (B).. Rey Tob pf B... Royal Dutch. ... St Joseph Lead.. St L & San Sran. StL & San Srpf. St L Southwn... St L Southwn pf San Cecilia Sug. Savage Arms. Seaboard Air L. Seaboard A L pf Sears Roebuck. . Seneca, Copper. .. Shattuck-Ariz Shell Union..... Simms Petrol. .. Stmmons. . Sinclair Oil. Sinclair pf. Skelly Oil. Sloss-Sheflield. . So Porto Sugar. . South Pacific. Southern Rwy. . Southern Ry pf. Spicer Mg Co St Oll of Calif. ... StOilof NJ wi. StOflof NJ pf.. Sterting Prod. .. Steel & Tube pf. Stew’t-Warner. Stromberg Carb Studebaker. ... . . Submarine Boat. Superior Oil..... SweetsCoof Am. Tenn Copper. ... ‘exas Company . ex Gf Sulphur. Texas & Pacific. Tex & P C&OIll.. Tide Water Oil. . Timken Bearing Tobacco Prod. ... Tobacco Prod A. Tobacco Prod pf. Tol St L & W pf. Trans Contl Oil. kY & W 2 25 23% 3% 167 93% 35% 50 97 30% 9874 Union Tank Car Un Tank Cr pf.. Un Alloy Steel United Drug United Fruit. United Ry Inv. Utd Ry Inv pf Unit Retail Strs. U S Cast Ir Pipe. U S Hoffman Mct 5 | US Indus Alco.. U SInd Alco pf. U'S Realty. U S Realty p U S Rubber. US Smelt & 46 46 107% 107% 120% 120% EVENING STAR, WASHINGTO:! jon all offerings of cotton had been raised 30 points overnight. URGESSTO0OD00PLAN TRADING N BONDS 5 SPECULATIVE High-Grade Investment Is- sues Largely Neglected in Today’s Market. BY GEORGE T. HUGHES, Special Dispatch to The St NEW YORK, February 21.—Trading in the bond market today was again restricted to speculative issues. For the most part high-grade invest- ment bonds were neglected. The diffi- culty seems to be that most issues of this grade are selling at a price unat- tractive in view of the current charge for money. Most investors want at least 5% per cent and the banks are left to buy the high-grade rails yield- ing from 41 to 5 per cent. Southern Paclfic refunding 4s are an example of the kind of a bond to reflect this sentiment in the quota- tions. So far Atchison general 4s have not been affected. At the same time investment bank- ers continue to bring out new {ssues such as the Illinols Central 5s of- fered today on a basis only a little better than 5 per cent. Among the more active speculative bonds today Denver and Rio Grande refunding 5s were prominent with an advance of nearly 3 points. All the Erie junior bonds were higher, probably in anticipation of a good January earning statement. St. Louis, San Francisco income 6s and New Orleans, Texas and Mexico in- come 5s did better. An_investment issue which was largely traded in today was Chicago and Western Indiana 4s. Today's price was on an approximately 5% per cent maturity basis which, co sidering the high degree of security, is apparently attractive to investors. exican and Czechoslovakia bonds featured the foreign list. o COTTON PRICES REACH NEW SEASON'S LEVELS New Orleans and New York Mar- kets Report Records for Present Move. By the Associated Press. NEW ORLEANS, February 21.— Claims of a substantial rise in spot prices in the interior put the cotton market to new high levels for the sea- son on the oid crop positions today, March rose to 29.02 and the first half hour of the session brought gains of 10 to 25 points to the list. Points in the western belt wired in that limits Cotton 28.87; May, 28. December, bid opened steady. March, 28.85; Jul 54; October, 53, March, 29.00; May, 3; October, 25.68; De- 50 asked. Steady. NEW YORK, February 21.—March sold up to 29.23 before the end of the morning, or 33 points net higher, while later ‘months showed net advances of about 12 to 18 points, with May selling at 29.35 and October at 26.27." May contracts at this price made an advance of 113 points from the low price touched on the reaction at the beginning of the month and there were setbacks of a few points later in the morning under realizing. Cotton. futures opened 00; M 29, -19; De March, 29.1 : May, 29.32 ; October, 26.22; December, T0 COTTON GROWERS | Senator Smith Seeks Funds for Ni- l trates in Plea Before Rules | ' Committee. House action at this session on the Senate resolution authorizing gov- ernment purchase of $10,000,000 worth of Chilean nitrates for sale to the farmers at cost was urged before the | rules committee today by Senator Smith, democrat, South Carolina, and a number of members of the House from the southern states. E Senator Smith declared this w: only fertilizer obtainable that stimulate the cotton plant to such a growth as to overcome the deadly ravages of the boll weevil. Federal purchase and distribution, he asserted, would be of particular benefit to the small cotton planter, and_he called attention that these produced 67 per cent of the total crop. The South Carolina senator told the committee that the resolution had had the “hearty support” of the re- publican majority in the Senate, and that it should be adopted by Congress not only in the interest of the “peo- ple who produce the material for the cheap clothing of the civilized world,” but in_the. interest of the farmers generally over the country. Chairman Campbell wanted to know why nitrate cost from $50 to $60 a ton, ang was told that part of this cost was represented by a $10 export tax levied by the Chilean government. U S Tobacco Utah Copper. Utah Securitie Vanadium Corp. Van Raalte. .. .. V Raalte 1st pf. Va-Cr Chemical. Va. Va- 5! 95 26% C Chem (B). Va Ir Coal & C Vivadou. ‘Wabash. ‘Wabash pf (A). ‘Wabash pf (B). 20% Web & Heilbrn. 12% Wells-Far Exp. 96% ‘Western Elec pf 118% ‘Western Md. 18% Western Md 2d. 24% ‘Western Pac pf. 59 ‘Western Union. 118% 30% % | Westhse E1& M. 656% Wheeling &LE 104 Western Pacific. ‘White Eagle Oil White Motor. ... White Oil. 3 % | wickwire. Wilson Co. Wilson & Co pf. Willys-Overld. . Will's-Overldpf 50% Wisconsin Cent. ‘Woolworth. Worthington. Youngstn Tube. *0ad lot. Call Money ) HOURLY SALES OF STOCKS. 290 200 1 489 2m. D. C., WEDNESDAY, FEBRUARY 21, 1923.’ [orarvvor BONDS oz ms] Received by Private Wire Direct té The Star Office, For Revised Close of Bond Market see 5:30 Edition of The Evening Star. (Sales are in $1,000.) UNITED STATES BONDS. Sales. High. Low. Close, 181 101 62 10152 10152 89 9864 9856 9856 226 9846 9882 9836 233 9886 9870 9874 103 9996 9988 FOREIGN. - Bales, High. Belgium 8s..... Bern 8s. Bolivia 8s. Canada 55 1926. ... 2! Canada 5%s 1929. . Canada 58 1931.... 3i Canada 58 1952 Chile 8s 1946 Chile 851926 Chile 85 1941 E Chinese Gov Ry 58 Christiania 8s. . Copenhagen 5%s. . Cubab¥%swi. Czechoslovakia Denmark 8s Denmark 6s. Dutch East I 6s°47 20 Dutch East I 6s '62 81 FramericanID 7%t French Govt 8s..... French Govt 7% Haitl 6sctfs. . Holland-Am s f 6s. 32 Japanese 1st 415s.. 1 Japanese 2d 4%s.. 2 Japanese ds....... Jergen U M 6s'47.. 46 Lyons 6s. = Marsellles 65 Mexico 5s Mexico bs Mexico 4s Montevideo 7s. Netherlands 6s Norway 8s. Norway 6sctfs.... 1 Paris-Ly's-Med 6s. 50 Prague 7% .48 Queensland T Queensland 6s. Rio de Jan 85 1946. Rio de Jan 8s 1947. Sao Paulo, City, 8s. Sao Paulo,State, 8s Seine, Dept of, 7s. . SerbsCrotsSlov 8s. Solssons 6s. Sweden 63. Ud King'm 5%8°2 Ud King'm 5%s 37 UnSteam Copen 6s. Uruguay 8s. 5 Zurich 8s Ajax Rubber 8s Am Agr Chem 7% Am Cotton Oil 5s. . AmSmelt&R 1st5s. 11 Am Sugar Ref 6s.. 16 AmT& Tcv6s.... AmT & Tecltrss.. 27 AmT&Tcltrds.. 6 Anacon cv d 7s wi. 422 Anacon 1st 65 w i. 141 Armour & Co 4%s. 7 Atlantic Refin 5s.. 12 Bell TelePa7s.... 9 I Bell Tele Pabsrcts 3 | Bethleh’'m Stirf 58 6 Beth'm StipmS5s.. 7 Beth'm Stlsf 6s... 16 Brier H St 1st 5%s. 2 Bklyn Edison7s D. 4 Bklyn Ed gen 5s... 4 Central Leather6s 2 Cerro de Pasco 8s. 135 Chile Copper 6s... 70 Chile Copper 7: 25 CinG & E 5%s’6! 5 Con Coal M@ 1st5s 3 Cub Cane Scvd 8s. 39 Det Edisonref 6s.. 5 DuPontdeN7%s. 7 Duquesne Lt 7%s. 10 Dugquesne Light 6s_ 6 E Cuba Sug 7%s. . 221 Empire F&G 7 14 Fisk Rubber 8: Gen Elec deb bs. Gen Refract'es 6s.. Goodr'h (BF) 6%s. Goodyear Tr 8s'31. Goodyear Tr 8s'41. Humble O&R 5%s. Indiana Steel 5s. .. Int Mer Marine 6s. Int Paper 1st 58 A. Int Paper 1st 5s B. Kelly-Sp'gfield 8s Lackaw’a 8 58’25 Lackaw’'a S 6s'50. . Magma Cop ev Manati Sug st Mexican Petrol 8s. Midvale Steel 5s. Montana Power 5s. Morris&Colst4%s. New Eng Tel bs. NY Edison 1st 6%s NYGELH&Pbs. ] N N States Pow bs. .. Northwst B Tel 7s. Otis Steel 8s. PacT & T bs'52. Packard Motor & Phila Coref 6sA.. Producers & Rf 8s. Producrs & R 8s w. Public Service Punta Alegre 78 Sinclair Of1 7s. ... Sin Crude Ol 5%s. Sin Pipe Line 5s. .. South Bell Tel 6s. . So Por Rico Sug 7s. St Ol of Calif 7s... Steel & Tube 7s. .. Tide Wat Oll 8%s. Union Bag & P 6 Unit Drug cv 8 U SRub lstrf U SSteelsf5s. Utah Pow & Lt Va-Car Chem 7s. .. Va-Car Ch 7%8 sw ‘Warner Sugar 7s. Wickwire Spen 7s. Wilson & Co 1st 6s Wilson&C ov T%s. 8 Wilson & Co cv 6s. Winch'tr Ams 7%s 100% 100% 103 108% 95% 95% 101% 101% 103% 96 1101% sl SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) 108% 1084 013 Aluminum Co. of Amer. 7s 1925. ‘Aluminum Co. of Amer. 7s 1983, American Cotton Oil 8s 1024... iean Sugar 6s 1087. American Tel. & Tel. ta 1934, ‘American Tel. & Tel. 6s 1925 Anaconda C o EXCHANGE TO CLOSE. The Washington Stock Ixchange will be closed tomorrow, Washing- son's birthday, e 98% | BKIyn R T 75 °21. .. RAILROADS. Sales. High, Low. Close. 8 89% 88% 894 81% is. 6 B&OSWaivs . BkIynRT ¢s 20‘32.. 1: Bklyn R T 5s. 5 Bkiyn R T 5s ctfs. . 18 17 BKIRT7°21 ct sta. 19 Canadian North 7s. Canad North '%l!. : Canad Pac deb 4s 15 Central Pacific 4s.. 7 Ches & Ohio cv 5s. 109 Ches & O cv 43% Chi & Alton 3s. Chi & Alton 3%s.. 3 Chi B&Q gn 4 ‘55, Chi B&Q 114% 114 112% 112% 80% 80% 86 94% ChiM&SPrr 4 Chi M&St P oy bo Chi M&St P 45 '35, ChIM&S P cv 43 Chi M&St P 4s'34.. Chi& NW 6%s.... g:: %ysh... I & Pacrf 4s. Chi Un Sta 6345 Chi& W Ind cn 4 CCC&St Lt 65 A Cleve Term 53s. .. Colo & Sou 4145 Cuba R R 6. Del & Hd 1st rf 4s. Del & Hudson 5145 D&RG1stre5s. . Det United 4145, Erie 1st con 4: Erie gen 4s. Erle convisA. Erieconv4sD. Gr Trunk sf deb 6s. Grand Trunk 7s. .. Gr North gen 7s. . . Gr North gen 514s. Green B& W db B. Hud & Man ref 5s. Hud & Man aj 6s. ., 11l Central ref 4s. 11l Central 53 s, Int Rap Tran 6s Int R Transit 7s. Int & G Nor aj 6s Towa Central rf 4s. Kan City Ft S 4s. Kan City Sou 5s. Kan City Term 4 Lake Shore 45'31. . Lehigh Valley 6s. Louis & N uni 4s. ., Louis & Nash 515, Manhat Ry cn 4s.. Market St cn 5s. . . Mich Central db 4s Mil El Ry & L 5s.. M& StLrf ex 5s. g fi : ’l_; 1st 4s. prinssA. MK&TésC. MK & Tadj bs. Mo Pacific 6s. Mo Pacific 5s '65. Mo Pacific gn 4s. .. Montreal Tm 1st 53 New Or Term 4s. .. NOTex & Min 5s. N Y Cent deb 6s. NYCentri5s. N Y CenLCecl 3%s. New Haven cd 6s.. New Haven d 4s 57. New Haven 7s..... NYState Ry 4% NY W & Bos 41 Norfolk & W cv 6: Northern Pac 3s. Northern Pac 4s. North'n Pacri 6s Northern Pac 6i O Short L cn 53 °46. Ore Short L ref 4s. Ore-Wash 1st rf 4s Pennsyl gen 5: Pennsyl gen 4%, Pennsyl 6%s. Pennsyl gold 7s Reading gen 4s. ... 1 Rio Grand W cl 4s. RIATk&L4%s. St L IM&S R&G 4; StLIM&Sds’'29. StL&SFplisA. StL&SFprinbs. StL&SFincés... StL&SF5%sD.. StL& SF adj 6 StL&SFplésC. tLSW =8 - M Surorolnea~Soan wonmdiot e eam 82 Seab'd A L con 6s. Sou Pacific cv 4s... Sou Pacific ref 4s. Sou Pacific clt 4s. Southern Ry 1st bs Southern Ry gn 4s. Southern Ry 6%s. Sou Ry Mobile 4s. . Third Ave ref 4s. Third Ave adj bs Union Pac 1st 4s... Unlon Pac 1st rf 4s Union Pac cv 4s. Union Pac cv 6s. Virginia Ry 1st 5s. ‘Wabash 2d 5s. 1 Western Md 4s.... Wheel & LE cn 4s. ‘Wisconsin Cent 4s. 31 TOTAL SALES (Par Value): 11a.m.. 4140000 ‘12 noon 6 256000 1p.m.. 8447000 2p.m.. 9855000 — TREASURY CERTIFICATES, (Quotations furnished by Redmond & Co.) Rate—Maturity. 8348 March 15, 1923, 10 » 12 4 0 3 iz 1 1 71 13 109 86 16 13 6 36 39 21 29 5 3 17 9 5 4 1 5%s 5% Sepromper 100 1011118 228 March 15, T 4% September 15, 434s December 1 DURANT PURCHASES PLATE-GLASS STOCK NEW YORK, February 21.—W. C. Durant announced yesterday that he had purchased the capital stock of the American Plate Glass Company, at Keane, Pa. The company has a yearly capacity of from 5,000,000 to 6,000,000 square feet of plate glass, which is sufficient to meet the re- quirements of the Durant enterprises for some time to come. The preliminary income account of Durant Motor Company of Michigan for 1922 shows net profit of $1,437,749, excluding $237,495 set aside as a tax reserve, and $71,764 for depreciation. BAR SILVER QUOTATIONS. LONDON, February 21.—Bar silver, 30% pence per ounce; money, 2% per cent. Discount rates, short bills, 27-16a2% per cent; three months bills, 2%a2 7-16 per cent. NEW YORK, February 21.—For- sisn bar silver, 643%; Mexican dollars, 49%. [ — Misunderstood. From the Mobilé Reglster. One of the speakers at a recent dmner said: “I know a salesman who was try- ing to sell tractors down south. An old colored farmer in Virginia read- ily bought a tractor from him, and a few days after the machine’s deliv- ery the salesman turned up to be paid. “‘Could you pay me for the trac- tor, uncle?” he hinted. “‘Pay fo' de tractor? said the old man. His eyes widened with aston- ishment and wrath. ‘Why, son, ¥0' done tole me dat in free vl.e:kl de iractor would pay £’ heg . ens, per Ib., 33a35; ke 7% | 60; ‘towls, cach, 26, % | Spinach, per barrel, 3.50a4.50. i firsts, dozen, FINANCI Grain, Produce Live Stock WHOLESAL EMARKET REPORT “Plenty turkeys, both live and dressed,” was the comment at the poultry market this morning. Large receipts of turkeys are com- 1ng from nearby Maryland and Vir- 8inla, raisers disposing of thelr stocks left over from the Christmas holiday season. Live turkeys were quoted at 35 cents and dressed stock at 40 cents. Fowls also were plentiful today and reasonable prices were quoted. Chick- ens were scarce, however, and the prices high. Receipts of eggs were small, but With no change in prices. The butter market remains firm, while the meat market is steady. Washington Wholesale Market. Eggs—Strictlv fresh, selected candled. per dozen, 40; average receipts, 40. southern, 38a40.” Cold storage eggs, 27. Live poultry—Roosters, per Ib., 17 turkeys, per 1b., 26a30; spring chick- young, each, and; Dressed pouitry—Fresh-killed spring chickens, ;.2;’ lb?'as.z hens, per Ib. 26a27; roosters, per Ib. per Ib., 30a40; keats, young, each, 70a80. Live stock—Calves, choice, per 1b. 14; ‘medium, per Ib., i3a13%; thin. per 6ad. Lambs, choice, per 1b. 13; I a;; 3.0028.00 each; live hogs per Ib. o Green fruits—Apples, per bbl, 1 87.00; Dellclous, Nov 3. per bbL. - 7.80. California oranges. per cra 5.0026.00; Florida, 4.00a5.50. Lemons, per box, 5.00as. Grapefrult, 3.004 Vegoint oo Bothices. per Bb el 'otatoes, per 1 180a2.00; per sack. 2.00az. potatoes, _North nearby, 2.50a3.00. southern, 752 Rom ver crate, 1.50a iceberg lettuce, per crate, 3. e Cabbage northern, 2.6023.00 per bbL, 1.60a2.50;" southern, 2.25a3. Eggplants, per crate, 2.50a5.00. 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, 2.50a2.76. Celery, crate, ' Florida, _2.50a3.50. _Brussels sprouts, 25a35. Squash, 2.00a2.50. GRAIN AND PROVISIONS. BALTIMORE, Md., February 21 cial).—Potatoes, white, 100 1bs,, bs., 90a2. el, 50a60; yams, bbl . 60a65; beans, bu., 3.00a5.00 beets, 100, 4.00a6.00; brussels spriuts, qt., 25a30; cabbage, hamper, 2.25a2.50 savoy, bushel, 1.00a1.25; carrots, bas- ket, " 40a50; caulifiower, 7! 2.25; celery, crate, bers, crate, 5.00a8.00; eggplants, crate, 4.90a7.00; horse radish, bushel, 3.00a 3.50; kale, bbl, 2.00a2.2 lettuce, basket, 75a1.75; onions, 100 lbs., 1.25 a2.7 oysterplants, 100, 6.00a8.00; parsnips, bushel, 1.4021.50; peas, bas- ket, 3.00a4.00; peppers, crate, 3.00a 4.50; radishes, basket, 50a2.00; spin- ach, bushel, 75a1.00; squash, crate, 3.0024.00; tomatoes, crate, 2.50a4.50; turnips, basket, 35a50. 2 Apples, packed, bbl, 2.5085.50; bushel, 75a1.50; loose, 100 lbs., 1.50a 2.00; basket, 50a75; cranberries, bbl., 8.00212.00; grapefruit, box, 2.50a3.50; oranges, box, 3.50a4.25; strawberries, qt,, 25a45; tangerines, half strap, 2.50 24.00. (Spe- 5 a2.00; 1.75; by Selling Prices at 12130, Wheat—No. 1 red winter, spot, quotations; No. 2 red winter, spot, 1.35% nominal; No. 3 red winter, spot, no quotations; No. 2 red winter, gar- licky, 1.34% nominal; No. 3 red win- ter, garlicl no quotations; Febru- ary, 1.34) nominal. Sales—None. Corn—Cob corn, new, 4.50a4.60 per bbl. contract, spot, 84% per bushel; No. 2 corn, spot, 86% 4, no quo- tations; track corn, yellow, No. 3 or better, 91 per bushel. Sales—None. Oats—White, No. 2, bushel; No. 3, 54a54%. Rye—Nearby, 85a95 per bushel; No. 2 western export, spot. 97% per bushel; No. 3, no quotations. Hay—Receipts, 20 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 20.00 per ton. Straw—No. 1 tangled rye, 15.00a 16.00; No. 1 wheat, 11.00a12.00; No. 1 oat, nominal, 12.00a13.00. “ DAIRY PRODUCTS. BALTIMORE, Md., February 21 (Special) —Live poultry—Turkeys, 1b. 25a35; old toms, 25; poor and crooked breasts, 20; young chickens, 30; poos and leghorns, 21a2( 1d hens, 23a25; 2 22; old_roosters, 15 23a30; geese, 17a25; pigeons, pair, 30a35; guinea fowl, each, 35a60; dressed poultry, turkeys, Ib., 30a36; old toms, 25a28; poor and crooked breasts, 20; oung chickens, 29a31; old and mixed, 26a28; old roosters, 16; ducks, 27a3Z; geese, 20a25; capons, 36; medium, 34a 35; small slips. 30a32. - Eggs—Loss off, native and nearby 39a40; southern, 37a3%. mery, fancy, 1b., 51a52; prints, 52a54; nearby creamery, 46a 47; ladles, 36a38; rolls, 35a36; store packed, 32a33; dairy prints, 35a36; process butter, 42a43. TODAY'S CHICAGO PRICES. CHICAGO, February 21.—Wheat went downward in price today during the early dealings, a material factor being renewal of the selling, which for several days past has been led by a house with eastern connections. As the case has usually been of late, however, purchasing broadened and a rally ensued when the market fell to 119 for May. A decline in Liver- pool quotations had some effect as an influence on the bear side of the market here. The opening, which varied from unchanged figures to % cent lower, with May 1.19% to 1.19% and July 1.15% to 1.15%, was followed by decilnes all around and then a slight reaction. Corn and oats receded with wheat. After opening % to % lower,” May 75%, the corn market underwent a general sag. Oats_started %a% off to % up, May 46 to 46%, and later showed a setback for all deliveries. Higher quotations on hogs gave no 55a55%; per Butter—C; 1901 ¢ {firmness to provisions market. WHEAT— Open. High. Low. Close. May. 119 95 ® 118% | 5% % ar 11.50 1152 i . 1095 11.60 1150 U7 1162 116 1097 1092 1092 CHICAGO LIVE STOCK MARKET. CHICAGO, February 21 (United States Department of Agriculture).— Hogs—Receipts, 23,000 head; 10 high- er; bulk, 140 to 210 pound averages, 8.30a8.40; top, 8.40; bulk, 255 to 325 pound butchers, 8.00a8.20; packing sows mostly 6.85 to 7.10; pigs, 7.25a 8.00; heavy-weight hogs, 7.96a8.1 medium, 8.05a8.35; light, 8.25a8.4i light light, 8.00a8.35; packing sows, smooth, 7.00a7. packing sows, rough, 6.75a7.10; killing pigs, 7.65a 8.00. Cattle—Receipts, 9,000 head; beef steers and she stock steady to strong; killing quality plain; early top light 10.25; few loads fresh steers, some held above 10.25: bulk beef steers of quality and con- dition to sell at 8.00a9.50; medium grades light vealers unevenly lower; other grades and classes generally steady, fairly active; bulk desirabl veal calves, 12.00a13.00 to packers: upward to 14.50 for choice kinds to shippers; bulk bologna bulls around 9,00; few heavies upward to b5.65: rough, heavy beef bulls, 4.75 choice yearling bulls upward to 8.00; bulk canners, 3.00a3.35; bulk cutters, 75a4.25; bulk stockers and feeder: .257.75. Sheep—Receipts, 16,000 head; ing, very slow: early sale olc wooled lam er. ding about 25 lower on other kinds; early top, 15.00 to pack some held higher; one deck fed 90-pound year- lings, 12.50 to shippers; sheep, stead one load desirable 144-pound ewe: 8.25; some 100-pound fall clipped Tex- as wethers, 8.25; supply feeding ma- Aaeial, . lght; na sarly selos, open- choice AL.’ HUGE GRAIN STOCKS NOT YET MARKETED Eastern Railroad Terminals Swamped With Wheat. Freight Cars Tied Up. BY J. C. ROYLRE. Special Dispatch to The Star. NEW YORK, February 21.—An ab- normally large part of the 1922 grain crop of the United States has not yet been marketed. Elevators at Atlantic ports are fllled to bursting. Shipments by rall, which cannot be unloaded at tidewater terminals, are tying up many badly needed freight cars. In the mear time, the Russian soviet government has hopped blithely into the markets of Europe and is selling, under the Ameri- can price, wheat which has been shipped from ports where America is sending free food for starving Russian bables. The soviet authorities, according to cables received today, tuke the stand that while hundreds of thousands are starving in Russia, internal transporta- tion difficulties make it impossible to convey the grain available to them, so it is being sold to other countries Lo establish lines of credit. Rellet Workers on Watch. This situation is being closely watched by relief commission officia who are warning citizens of this country against appeals being made for Russian sufferers. care of the children until the next harvest. Grain shipments to Russia were discontinued nearly a year ago but free condensed milk, sugar, rice, cocoa and other foodstuffs and fats still are being sent to Russian ports. Shipping men today reported that while grain was going forward to Europe in fair quantities from Canada, Australia and South America, t American export movement is very sluggish. Wheat futures they say appear lower in those countri than in the United States, but they account for this by the fact that America normally ships the lower grades of grain abroad, keeping the better grades for domestic con- sumption. Congestion at Terminals. Exports have fallen sharply at Philadelphia, according to reports re- celved today, but the Pennsylvan and the Reading railroads are prepar- ing greatly to enlarge their grain handling and unloading facilities in anticipation of heavy shipments later. At least one of the railroads entering New York is declining grain ship- ments to this port because of the de- lay in unloading caused by conges- on. Hundreds of thousands of bushels of wheat are in storage in vessels now tied up at docks in great lakes ports and this must be unloaded in the near future in order to enable vessels to take advantage of the opening of lake navigation. Other tremendous amounts are still in the hands of the growers, who are adequately financed, who'do not have to sell immediately and who are hanging on to their 19 products in hopes of advancing prices. Grain Rates to Europe Dowp. A resumption to European buying. based on more settled conditions the other side of the Atlantic, e porters say, will bring about a mov ment which will relieve the situation. Grain freight rates from Atlant there ‘are 54,957,000 bushels of gra avallable in’ the United States, which al] but about 3,000,000 bushels is east of the Rocky mountains. Garment Strike Near End. It is expected that the 20,000 gar ment workers who have been on strike here for two weeks wil be back at work again by Monday, as agree- ment appeared today to be probable on the basis of plecework and a forty- hour week. New Engiand cotton manufacturers expressed themselves today as confi- dent that the conference of cotton growers in Atlanta would result in a campaign against the ravages of the boll weevil more effective than any hitherto undertaken. $5,275,000 Is Involved in Quaker City Mortgage Special Dispatch to The Star. PHILADELPHIA, February 21— | Extensive plans already are being made here for business expansion in the spring. April will witness a gen- eral revival of building construction. The largest single first mortgage ever placed in the city, involving loan of $5275,000, has just been re- corded. It covers property at 15t and Chestnut streets and is for the purpose of financing =n office bulld- ing which will be crected on the site of the old Y. M. C. A. structure. Demand for dwellings is unabated, in spite of the large number erected last year. In the immediate Suburbi homes costing from $15,000 to $25,001 are in active demand. Big Demand in Chicago for Building Material Special Dispatch to The Star. CHICAGO, February 21.—Bullding activity, resumed this week with return ' of milder weather, has brought a rush of orders from con- tractors for material of all kinds, Demand for common and face brick is in excess of supply, and dealers predict advances in prices for tha former grade. Country dealers are in this market for large supplies of cement and plaster. Statements by general . manager the citizens committee to enforce the Landiy award in the building trades, that there would be 7,000 vacant apart- ments by the first of the month, brought strong denials today from real estate men who declared tha only vacancies would be in very ex- pensive apartments or uninhabitabla flats. (Copyright, 1923.) WALL STREET NOTES. Express Company to Distribute 4s- sets—Transit Dividend. Special Dispatch to The Star. NEW YORK, February 21.—Tha United States Express Company Bag ordered the ninth partial distribufion of assets of $5 a share be madl on March 28, to holders of record Mards I. The National Transit Company aas declared an extra dividend of 50 ggnts a share, payable March 15, to hoers of record, February 28. The Digpony Motors, Inc., of Wilmington, h#§ filed notice ‘at the Delaware depsémeni of state of an increase of capital from $4.500,000 to $25,000,000. New York bank clearings, $739,000.- 000, New York bank balences, $70.- 000,000. New York Federal Reserva Bank credits, $65,000,000. ARMOUR MEETING PUT OFF. CHICAGO, February 21.—The an-< nual stockholders’ meeting of Armour & Co., scheduled * for today, hay been postponed pending completion of an audit on which the final annual report will be based, it was an- nounced today. The meeting was sub- ject to call when the company changed its fiscal year to December 31, instead of October 31. The annual meeting of the Armour Leather Com- pany was called for today, however, PARIS MARKET EASY. PARIS, February 21.—Prices wera easy on the bourse today. Three per cent rentes, 68 francs 85 centimes. Exchange on London, 76 francs 70 centimes. Five per cent loan, 74 francs 70 centimes. The dollar was quoted at 16 francs 23 centimes, i W. Armstrong, ) ’ ’ 7 ’ ! / ' ) ’