Evening Star Newspaper, March 6, 1923, Page 26

FIN VIOLENT ADVANCES IN LEADING STOCKS Prices Also Drop Just as Fast in Some Issues—Heavy Selling Hinted. BY STUART P. WEST. EW YORK, March 6.—Violent up- bidding of selected industrials con- tibucd on the stock exchange today. But this was the first day in some time that, wheu bullish operations were suspended, prices came down a8 fast as they had risen. It took but hialf an hour for Stewart Warner to go from 121% to 114, for Strom- berg Carburctor to drop from 94 to $8% and for California Petroleum, which had sold close té par, to fall to 97%4. » were samples of what was ‘taking all through the mariet New The: place brought to the to offset the unsetiing effect h otherwiss might have been produced. Responding to estimates that the vear's e pgs might run as high as $30 u_share, American Locomotive crossed 130 for the first time, Baldwin Locumotive rushed up above 141 and Springs had an equally leaders were rapid advan Nosch Magneto Jumps. first_sale Bosch Magneto night's be- vorable idend out- pany, parily it was a mov pathetic with the pyrotech- Tics in other motor supply stocks, and partly it was the route of a short interest built up some time ago on the idea that the litigation in which Bosch Magneto was involved would have an unfavorable termination. Trere was a demonstration in some of the tire siarcs on the idea that they' have been selling out of line but it us short-lived. Iron Prod- made a new high in_ antiel of Some early announcement re- rd'nz the capital readjustment which is expected to look at- present shareholder. <iyn Rapid Transit dropped be- ‘on selling, by people who did to pay the heavy 8 + called for under the reor plan Review and Outlook. Tie stock market absorbed the prin- cipal attention among all the various today. There were violent nd even more violent de- 5. these fluctuations accompanied ¢ another extremely lurge volume of asactions. How near the upward mosement which has been going on with cely any interruption for or month is to culmination, it would be rash to attempt to pre- dict All that can safely be said is that during the last few days signs .\ve appeared which to practiced et are symptomatic of an intenseiy speculative stage, where calm reason- ing has ceased fo count. and where ramor taken the place of fact as the zuiding impulse. Nobody but the craziest speculator would be prepared to agree that the chenge in the motor supply industry has been so0 great as to justify a 100- roint advance in a stock like Stewart Warner within the last vear and a a'f. This, in the other hand, is a rather extreme case, but in a score of other industrial specialties the ad- vance which has been going on for last week or two is quite as truvagant as any that occurred at the top of the inflationary period three years ago. Many Stocks Working Lower. Two things stood out significantly in the Wall street movement of the Gay. One was that while attention was being drawn to specta latea resp carrings ucts tic tion dustrials, the general only not responding. but was slowly vielding ground. The other was that in the leaders themselves advances for the first time were quickly succeeded by a reaction still more swift. The conclusion to be drawn in the light of all experi- ence was_that as operations for the rice was becoming more artificial and mere reckless, a_great deal of gen- uine, and what Wall street would de- seribe as “important selling,” was tak- ing place. With the tire and rubber stocks srore active and joining the advance ~umors were broadcast once again bout a pending increase in the prices or tires. It was said that the ad- vances in prices would 19 to 25 per cent. Rumors regarding ire price increases have been preva- lent for some time, due to the steady advance in the quotations for erude “ubber and the marking up of tire prices would ba only a logical se- quence to the crude rubber move. Kol sringfield was the leader in the advance toduy, because the com- pany reported for 1922 the largest sross profits and the largest operat- inz income in its history. Baldwin Locomotive Plans. Galdwin Locomotive is reported to tave perfected a working arrange- nieat with the Westinghouse Electric Company along the same lines as that j.st entered into by American Loco- motive and General Electric regard- ing the making of the railway en- gincs. The responsibility for the further strength in International largely in the anouncement of an ad- vance 'in paper prices due to the in- reased demand. The price increases e from 35 to $20 a ton in paper for var ous commercial purposes. The likelihood of a rather poor income report for last vear s overshadowed in the market for International Pa- per stock by knowiedge of the much better stock conditions at the pres- ent. Olis Lead Late Trading. Some of the oil stocks were picked out for leadership despite the state- ment by the Standard Oil president that gasoline prices were not likely to get above the present level. General Asphalt < bid up across 50 ani Standard Oil of California was particularly strong. American Woolen was bid up again in the afternoon, but less on account of last year's re- sult than on the anticipation of much more favorable earnings in 1923. Mack Trucks went down over 2 points aft- er the deelaration of no more than the rogular dividend at the rate cf 34 a share, 'but a prompt rally follow- ed. (Coprright. 1923.) WALL STREET NOTES. Baldwin's Orders Regular Dividends Today. tch to The Star. ~ YORK, March 6 — About $5,000.000 in new business has been booked by the Baldwin Locomotive Works so far this month, and it is said the orders for the quarter will exceed the $50,000,000 mark. New York bank clearings, $932,000,- 000. New York bank balances, $77.000.- 000. New York Federal Reserve Bank credi's. $53,000,000. Boston bank clearings, $63,000,000. Ex-dividend today: Celluloid Com- pany common, Mohawk Mining, Union “arbide Carbon. A number of corporations declared regular quarterly dividends today. \mong them were Kelly-Springfield ‘Tire, United Profit Sharing, Mack ‘Truck, Duluth Superior Traction pre- ferred, Twin City Rapid Transit pre- ferred. Montreal Tri-City Traction and Southern Canada Power. Dominick & Dominick syndicate mansgers announced today that the block of 12.000 shares of 614 per cent cumulative convertible prefer- red stock of the Chesapeake and Ohio offered by them has been sold. Remick, Hodges & Co. today offered £500,000 state of Pennsvlvania 5 per cent bonds at a price to vield 3.90 per cent Special D NEW range from ! Paper lay | Mount—Many | ANCIAL, THE EVENING 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. Adams Express. Adv Rumley. ... Alr Reduction Ajax Rubber.... Alaska Juneau. . Allied Chemical. Allis Chalmers. . Am Agr Chem AmAgrChempt. Am Beet Sugar. Am Bosch. .. Am Brake Shoe. Am Car & Fdy Am Chlcle Co. .. Am Cotton Oil AmCotton Cil pf. Am Drugglst. ... Am Hide& Leath AmHlde&Lea pt Am Internat’)... Am La France. . Am La France pf Am Linseed. ... Am Linseed pf. . Am Locomotive. Am Metals. .. Am Metal pf. Am Roll Mill pf. Am Safe Razor. Am Ship & Com. Am Smelting. .. Am Smelting pf. Am Steel Fdy. .. Am Sugar. Am Sugar pf Am Sumatra. ... Am Tel & Teleg. Am Tobacco (B) AmW Wk 6% pf Am W Wk 7% pf Am Wholesale pf Am Woolen. . .. Am Writ Prpf.. Am Zinc & Lead Anaconda. Art Met Constn. Asso Dry Goods. Associated Ofl Atchison Atchlson pf.. Atlan Bir & Atl. ! Atlan Cst Line Atlantic Guif. Atlantic Gulf p Atlantic Ref.... Atlas Tack | Austin Nichols. . Baldwin Loco. Balto & Ohlo. ... Barnesdall (A). all (B). 5 Mining Beechnut Pack. Beth Steel (B).. Erit Empire Stl. Br Em Stl 2d pf. Bklyn Edison. . . Bklyn Rap Tran Bklyn R Trctfs. Brown Shoe. Burns Bros (A). Burns Bros (B). Butte Copper. ... Butte&Superior. Caddo Oil.... California Fac! ! Calif Petrol. . | Calif Petrol pt.. Callahan Zinc Calumet & Ariz. i Canad'n Pacific. Canadian South. Case Plow Wks. Case (J 1) pf. Central Leather Central Leath pt Cerro de Pasco. . Chandler Motor. Chesap & Ohio. . Ches & Opfwi. Chi & Alton..... Chi & Alton pf.. Chi & East Iil pt Chi Great West. Chi Great W pf. Chi Mil & StP.. ChiMil&StPpf. Chi & Northwn. Chi & Nwn pt... Chi Pheu Tool. . Chi R I & Pacific Chi R I&P 6% pf ChiRI& P7%Dpt Chile Copper Chino Copper. CCC & St Louis Cluett Peabod: Coca-Cola. . Cocoa-Cola pf Colo Fuel....... Colo & Southern { Columbia Gas. . Columb’a Graph Colum Graph pf. Comp Tabulator Cons Cigar Cons Cigar pf. .. Consol Gas new. Cons Textile ContCan....... 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 bf. Davidson Chem. De Beers. ... Del & Hudson. .. D Lack & Wstn. Detroit Edison. Detroit United. . Dome bines. Dupont (ET). Dupont deb. Eastman Kodak Elec Stor Bat. Endicott-John.. Erie. .. Erielstpf.. iFamousPlayers. Famous Play pf. Fd Mines & S pf. Fiftn AvBusw i. Fisher Body. .. . Fisher B of O pf Fisk Rubber. ... Fleishman. Freeport Texas. Gen Am Tk Car. Gen Am Tank pf Gen Asphalt.... Gen Asphalt pf. Gen Clgar Gen Elec.ric Gen Elec spl w 1. Gen Motors. ... Gimbel Bros . Gimbel Bros pf. Gitdden...... Goldwin Corp. | Goodricn 1 Goodrich pf. . { Goody'r pr pf wi. Granby Consol.. Gray & Davis. .. Gt Northern pf.. Great Nor Ore. . Greene-Cananea Guantanamo Su. Gulf Mo & Nor. . { Gult Mo & Norpf Gulf St Steel..... | Harbishaw Cab. HartmanCorp. . Hayes Wheel. Hupp Motors. Hydraulic Steel. Ilinois Central. Indian Refining. Inspiration. ... interboro Met Interborough pt Interbor RapTr. In Ag Chem pf.. IntCement..... - InCombustion E Int M Marine pf. int Nickel. 1ntl Paper. Intl Paper (sta). Int Shoe S Intl Salt. s Intertype Corp Invincible Oil. .. Iron Products. ... Island Oil. Jewel Tea. Open. 81% 19% 65% 13% 1'% 76% 49% 84% 66 44% 60 78 105% 185 9% 16% 31 67 121 8% 105 29% 12% 97% 38 5874 128% 54% 117 98 81k 185 67% 102% 891y 81% " 108% 33 125% 154 b3k 915 97 904 % 3% 81 66% 14% 4813 134 9% 59% 824 94 34% 17 67% 10% 56% 37% 21 119% 127 110% 75 7 41% 88% 12 £8 93% E ] 91 38 21% 69 2% 29% 25% 5 116% 6% 42% 1a % 19 36% 43 25 43% 15% 67% 73 68% 90% 37 18% 65% * 20% High. 81 19% 65% 14% 1% Low. 80 18% 65 13% 1% 6% 49% 34% 66 44% 56% 8 104% 184% Close. 80 19 i i % | T | i i | Penn Jewel Teapf.... Jones Tea. ! Jones & L'ghl pf Kansas & Gulf. . Kansas City Sou i Kayser (Jullus) Keily-Spr Tire. . Kelsey Wheel. . Kennecott. Keystone Tire Kresge (S S) Lee T & Rubber. Lehigh Valley. Lima Locomo. Mack Trucks. Mack Truck Magma Copper. Mallison & Co. 1t Sugar. | Manhat 131 & rket St Ry. Market St pf. A 5 Marlin-Rockwl. Martin-Party. . Muthison Alkili. Maxweil (A)... Maxwell (B) D cabourd. . d ctfs. Miami Copper. . Middle St Ofl Midvale Steel. Minn & St L (n). M St P& SSM pf MoK & Twi... Mo. K & T pf wi. Mo Pacific...... Montana i'ower Montgom'y W'id Moon Motors Mother Lode. Mullins Body h Motor: h Motors atl Biscuit w i, 1 Acme. Natl Con‘tuit. .. Natl Enameling Natl Ry of M 2d. Nevada Copper. N Or Tex & Mex N Y Air Brake. . NYNH & Hartrd. Y O & Western Falls Pow pf. orfolk South orfolk & West. North American orth Amer w i orth Amer pf. ic Oklahoma Prod. Orpheum Circuit Otis Elevator. Otis Steel Owens Bottle Facific Oil. ... Packard Motor. Pan-Am Pote. .. | Pan-Am Pet (B) Panhandle. . Parrish & Bing. Pennsy Penn People’s Gas. ... Pere Marquette. Philtdelphia Co. Philadel Co pt. Phillips Pete rce-Arrow . Pierce-Arrow rts Pierce-Arrow pf Pierce- Arrow pri Pierce Oil Piegly-Wiggly. Pitts & W Va. Pitts Pond Creck Coal Porto Rico Tob. Postum Cereal. . Fressed Stl Car. ed St1C pf. Prod & Ref pf Pub Serv of N Pub Serv pf Puilman Co Punta Alegre. Pure Oil.. | ay Con Leading. . Reading 1st pf Reis Robert. . Remington Replogle Stee Rep Ir & Steel .. Rep Ir & St pf.. Reynolds Spring Reynolds Sprrts. Rey Tobuc (B) Royal Dutch. . St Joseph Lead. St L & Sun Sran. St L Soutliwn... St L Southwn pf San Cecilia Sug. Savage Arms. .. Seaboard Air L. Seaboard A L pt Sears Roebuck. . neca Copper Shattuck-Ariz. Sheil Tr & Tran Shell Union. . Shell Union pf. Simms Petrol. Simumons. Sinclair Oil. . . Skelly Oil...... Sloss-Sheflicld. oss-Sheft pf. So Porto Sugar. South Pacific. .. Southern Rwy.. Southern Ry pf. Spicer Mfg Co. . Standard Mill pf St Ol of Calif. .. StOilof NJwi. SLOilof N J pf.. Steel & Tube pt. ;| Sterling Prod... Stew’t-Warner. Stromberg Carb Studebaker. 4| Submarine 19% | 60 92% | 114 901 37% 22| 69 3% 30 25% 4% 116% 6 42% U Y% 20 36% 425 25 42% 15% 57% | 73 69% 90% 3614 Superior Oil. ... SweetsCoofam. Tenn Copper. Texas Company. Texas & Pacific. Tex Gf Sulphur. Tex & P C&Oil. . Timken Bearing Tobacco Prod... Tobacco Prod A. Tobacco Prod pf. Trans Contl Oil. Transue & Will. Twin C R Tran Union Bag & P.. Union Pacific. | Union Tank Car | Un Alloy Steel. United Dru United Frui United Ry Inv. Utd Ry Inv pf. Unit Retail Str: U 8 Cast Ir Pipe. USCastlirPpf. U § ¥ogd Prod. . U S Hoffman Mcl U S Indus Alco. . U S Realty. - U S Realty pf, U S Rubber U S Rub 1st pf. U S Smelt & Ref USSmelt& Rpf. U S Steel. U SSteel pf Utah Copper. Utah Securities. Vanadium Corp. Va-Cr Chemical. Va-Car Chem pt C 102 Open, High. % 7 57% b57% 109 109 2% 28% 43% 56 114 117% 44% 44 9 % 195 199 0% 31% 697 697% 694 70% 20% 10% 7% 97 67 114% 114% 876 37% 102 4% 91 40% 4% 91 404 5845 152% 132! 594 804 53 168 AT 2814 60% B0 16'5 481 28% 91 91% 115 11% 10% 104 39% 39% 15% 16 9% 9% 15 5 6212 64'% 44% 44 u7 1 103 103 65 65% 1214 121% 93% 94% 124 125Y% 12% 12% 6% 6% 2 2 12% 12% 51% bl1% 254 26 61% 61% 22% 23 39% 40% 59 59% 83% 837 1z 112 1% 11% 33% 33% 63% 64 70 70 143% 143% 94 94 8T% 37% 82 82 188% 188% 21%, 21% 61% 61% 824 82% 32% 83% % % 4% 4% 19% 19% 69% 69% 105% 105% 107% 107 60% 61% 103 103 421 42% 46% 46% 108% 108% 120% 120% 5% 5% 22% 22% 42% 43% 26 25 66% 664 19% 19% 10% 10% 30% Low. Close. 5 % 57 57 109 109 21 28% 424 55% 13 43% 9 195 30% 69 69 19% 10 % 97 65 114% 37 197 109% 17 4 | transferred from Chic | i 1 l { i 21% 4 schedu 4 lana 32% 64 70 143% 94 3% BI% 188% 20 56 81% 33 % 4% 18% 69'% 104% 107% 61% 103 42% 46% | 107% 120% T5% 22% 427% 24% 0% 5 1 om the ! from t | s larg: fadittle o { miscellaneous STAR, "WASHINGTO! RAIL BONDS HIGHER, ALSO MORE AGTIVE Many Other Issues Heavy and Inclined to Go Lower in Today’s Trading. BY GEORGE T. HUGHE! 1o The Ntar, March 6—Speculative bonds, especially the rails, were fairs ve and higher, while invest- ment issues were heavy and inclined 0 go lower in today's market. In this respect the tendency was the same as which prevailed all last week. In- Vvestors are holding off in anticipa- tion of higher money and talk about another increaxe in the federal re- serve bank's rediscount rate con- tinues. The best opinion is that no action of this kind will be taken for some time, but the mere report snough to discourage chases, 1t ix a question, how much the market may have discount- L of a higher money rafe. Today's Speeial Feature. s of today's truding was in United Rail- and other obliga- connected with public utility oups of which the Market Street ailway and Philadelphia Company the prin, The United Rallways issue is secured by @ deposit of Philadelphia Company With @ market vaiue in excess of the outstanding amount of the bonds. It has reported that some reorgani tion of the United Railw invest- ment w pending, wh uld make 1t desirable to free k en of the hon r which F ccurity ive return ne connec- considerable ad- Street Railway 5s, n issue offering a ield at the current quota- interest ways mv shown tions . the calla- rhet © report was that the Du- Lag would be called the privilege of con- version into § per cent preferred stock be-omes oper on_July 1 next. The Philadelphia Company owns all the common stock of Duquesne Light and deriv share of i incomn therefron Railrond Bonds Active, the railroud Wonds activity meing pri disnlayed by 1ul 45 of 1 aboard Alr line t Ss and ! 6s and nd Alton Erie prior were ulso more than u auesne at 107 berc 5 Amor at ad St is trend in the | bonds was illn; in Union the Sou rort-term obliga- nd the datter in 1944 In term obllgations in denian Hudson Manhattan fractionally little change in the | rbian is had French 8s did better, 85 gained a sligh but there was it in th 25 Libertys nte higher on the $100 more active were a few and a trif CLARENCE EARL HEADS NATIONAL MOTORS FIRM CHICAGO, Mare 1 A arl. former president of Earl fotors and for five years associated with John N. Willys in the direction of the Willys Overlund Company, has been elec president and general manager of the anounced today former treasu controller the Maxweil fotors Company, has been elected ce president and treasurer. Mr. Earl a was ers will be 7o to Detroit acquisition of another is completed, the an- said. National Motors merger of eight manu- facturing plants of automobiles and automebile parts in seven state. with ed production of 55,500 cars trucks this year. . Executive headqua plant nouncement represents KRESGE SALES JUMP. {EW YORK, March 6.—Sales of the S. Kresge Compan ry amounted with $3,763.37 an_incre: 5.016.053. com- February. per cent. egate sales for year up to 39 895 in the corre year, an increase of DRY GOODS MARKET. NEW YORK. March 6 (Special).— The market for cotton cloths showed ange and not much activity today. The raw silk market was quict here, with a recession of about 5 cents a pound in all grades. BUTTER PRICES HIGHER. CHICAGO, March 6.—Butter higher: creamery extras, 47%:: standards, 471 extra firsts, 4612a47; firsts, 45%a46; sec- onds, 4iaddls. zgs higher; receipts, 10,007 cases; 31; ordinary firsts, 30a30% 31a31%. . against $7.360.- ing perfod last 11 per cent. PAYS $6,000 FOR SEAT. NEW YORK, March 6.—Hannibal De Mesa Has bought the Coffee and Sugar_Exchange membership of Je- rome Lewine, 2d, for $6,000, the price unchanged from the last previous sale. WOULD DROP PAR VALUE. DOVER. Del.. March 6.-—A certifi- cate of amendment was filed at the 11% | State Department today for the Tnde- | { | pendent Oil and Gas Company, chang- ing the canital stock from $10.000.000, par value of §1 ner share, to 1,000,000 shares without nominal or par value. 42 13% 51% 1314 23% 19% 62% 114% 117 64% 9% 28% 556% 4% 12 40% 7 50% 211 43 13% 52 13% 23% 19% 6274 114% 118 65% 9% 28% 57 4% 12% 40% T 514 43 13% 51% 13% 23% 19% 6274 114% 118 64% 974 28% 55% 4% 12 40% Waldorf System. Web & Heilbrn. Wells-Far Exp. Western Md.... Western Md 2d. Western Pacific. Western Pac pf. 62% Western Union. 114% West Alr Brke.. 117 Westhse 151 & M 65 ° Wheeling & L13 9% White Eagle Ol 28% White Motor.... 56% White Ol . 4% Wickwire. 12% Witson Co! 40% Willys-Overld.. 7% Will's-Overldpf 50% Woolworth..... 211 211 Worthington... 39 39 39 39 Worthing pf(A) 83% 834 83% 83% High. Low. Last. Call Money..... b 4% 4% HOURLY SALES OF STOCKS. . 414600 12m . 713 000 - §97000 2 p.m.....1080900 42% 13% 52 13% 23% 195 51% 211 is| the { s a large! tional Motors Cor- | T ~-D-~C.,- TUESDAY, ARCH -6, 1923 [5az vorx BONDS ros o] Received by Private Wire For Revised Close of Bond Market see (Bales are in $1,000.) UNITED STATES BONDS. Bales. High. 7 10128 15 9816 364 9798 645 9844 538 9818 121 100 10 407 9966 FOREIGN. Low. Close. 10122 10124 9804 9816 9786 9794 9836 9840 9806 9812 10008 100 10 9958 9964 Lib3ks.. Lib1st 4%s. Lib 2d 43 Lib 3d 4% s Lib 4th 43%s. . Victory 4%s. US4Y%s1962.. . Close. 102% 98% 93% 9% 12 92% 75% 83% 95w 102% 100% 102 : 100% 994 104 .« 102% 103% 524 110% R9Y% 99% BEY, 109% 975 9418 9415 88 Argentine 7s Belgium 8s. Bern 8s. . Bollvia 8s. Brazil Tts Canada bs 1926. ... Canada §%s 1929. . Canada 6s 1931.... Canada §s 1952, Chile 851946 Chile 85.1926. Chile 85 1941. .. Chinese Gov Ry b Christiania 8s Copenhagen 5%s. . Cubabiswi..... Czechoslovakia 8s. Denmark 8s. Denmark 6s. . Dutch st 16347 Dutch Jiast 1 65 '62 Framerican D7 French Govt 8s. French Govt 718 Halti 6s ctfs. Holland-Am apanes Shancad®a Japanese 4s. Jergen U M 6s 47, Lyons 6s. . Marseilles 65 Mexico 55 Mexico 4s Monteviden 7s. .. Netherlands 6. Norway 8s. . Norway 6s ctfs. Paris-Ly's-Med 6s. Prague 7%s. Queensland 7 Queensland 6s. .. Lio ¢e Jan 8s 1946. Rio de Jan 85 1947 Sao Paulo,State, 83 Seine, Dept of. 7s. . Serbs CrotsSlov 8s. Soissons 6 S en 6is. SwissConfed sf8s, Ud King'm 53%s'29 d King'm 5%s '37 UnSteam Copen 6s. ! Uruguay 8s. | Zurich 8s . 4. 4%s.. MISCELLANEOUS. Ajax Rubber¥s. .. {AmAgzr Chem 7%= 24 {Am Cotton Ofl 5s.. 1R AmSmelt&R 1s 30 Am Sugar Ref 6s.. 17 Am T & Tev 6s. 20 {AmT & Teltr5s.. 19 [AmT& Teltrds.. 17 fAnaconda ev db 7s. . 50 Aniconda 1st 68 65 | Armour & Co 4 Atlantic Refin 5s. . | Bell Tale PaSsrcts iBell Tele Pa7s.... Bilyn | Bush T Bldg 55 '60 Central Leather 53 Cerro de Pasco 8s. { Chile Copper 6s i Chile Copper Ts. i Con Coal Md 1=t ! Cub Cane Scvd i Det Edison ref 6: Du Pontde N 7igs. Duquesne Lt Tis. Duquesne Light 6s 19 E Cuba Sug T4%s.: 124 Empire F&G 7 i Fisk Rubber 8: Gen Elec deb 5 Goodr'h (BF) 6i:s. Goodyear Tr 8s '31. Goodyear Tr 85 '41. { Humble O&ZR 525, { Indiana Steel 5s i Int Mer Marine €s. Int Paper 1st 5s A. Int Paper Ist §s B. Kelly-Sp'gfield 8s. Lackaw'a S 5s ‘50 Liggett & Myers Ts Liggett & Myers 5s Magma Cop cv 7s. . Manat| Sug sf 7its Mexican Petrol 8s. Midvale Steel 5s Montana Power bs Morris&Colst4lss at Tube 1st 3s. ... ew Eng Tel 3s. NY Edison 1st 6%s Y G ELH&P 5s. Y Tel 6s'41..... s : n 6s Statés Pow 5s. .. Northwst B Tel 7s. | Pacific Gas & El 53 PacT & T 58 '52. .. { Packard Motor 8s. i Phila Coref 68 A.. Producers & Rf 8s. Producrs & R 8s w. Public Service 5s. Punta Alegre 7s Sinclair Of1 7s. Sin Crude Oil 5%s. Sin Pipe Line 5s. ... Scuth Bell Tel 5s. . So Por Rico Sug 7s | St Oil of Calif 7s Steel & Tube 7s. .. Tobacco Prod sf Ts Toledo Ed'n 1st 7s. Union Bag & P 6s.. Unit Drug cv 8s. .. USRub Ist rf 5s.. U S Rubber 7 USSteelsf5s.... Utah Pow & Lt 5s. Va-Car Chem 7s. .. Va-Car Ch 7%s sw Warner Sugar 7s.. West Union 63s. . Wickwire Spen 7s. Wilson & Co 1st 6s 14 Wilson&Cecv 7%s. 5 Wilson & Cocvés. 8 Winch'tr Ams 7%s 13 SHORT-TERM SECURITIES. i (Quotations furnished Ly Redmond & Co) ool rnnund @ xs i 7] CaunonnonBosumaren~Beaola 100% 103 95% 103 Bid. 1035 . 1ges 9 10015 1161 10215 1037% 10215 103 ofter. 1035 1001 921, 10314 1005 7y 10235 1085 1027 1051 1031, 1043, 1008 01y Mg Toois % 1084 1081 108 100 083, 1005 1041, 1003 Aluminum Co. of Amer. um Co. of Amer. Cotton Oil Bs 192 Sugar 65 1937. Tel. & Tel. 0x American Tel, & Tel. 6x 1925 Anaconds Copper s 1929 Anaconda Copper 7s 1 Anglo-American_Oll 7las 192 | Armenr & Co. 7x 1930 Tiell Tel. of Canada 7« ‘1635 Rethlehem Steel 7s 1923.. “anadian Northern 5igs 19: Canadian Pacific 6s 1924, Central Leather by 1925, €., C., C. & St. L. 6y 1i Tel. 5s 1923, DuPont Tigs ; Goodyear T. & R. Great Northern 74 1930.. Hocking Vail Humble 01 Kansas C} . 6 1923, Kennecott Copper 7s 1630, Libby. M Standara Oil of Calif. 7a 1031, dewater Ol 8tgs 1931 mion Tapk Car 7s 1930, Western Union 6348 1938, Westinghouxe E. & M. 75 1981, 1 Calied April 26, 1923, iCalled April 1," 1923, —_————— TREASURY CERTIFICATES. (Quotations furnishea by Redmond & Co.) -Noon.—— Rate—Maturity. Offer.. 8%s June 15, 1928, . o9 99 2932 :a- Beptember 15, Bof1e 993745 5 3 29 5%s Jume 15, 1934 101 116 5148 Beptember 15, 1924 435 March 15, 1935. 1§n June 15, ‘1825 ‘Bid. 4% December 15, 1925. 4%s March 15, 1626. 4%4s Beptember 15, 193 41is December 15, 1927. Direct to The Star Office. Edition of The Evening Star. i RAILROADS. Bale: Ann Arbor 4s 1 Atchison gen 45... 17 Atchison adJ 4s 3 Atlantic C L 1st 4s. 4 Atlantic CLcl 4s.. 19 B&Opfin3k%s... 16 B & O gold 4 19 B&O6s. R e 16 B&Oref5s.... ... B&O PLE&WV 4 B& OSWdiv3%s. Bklyn R T 4s 2002. Bklyn R T 6s...... BKlyn R T 7s '21... BKIRT 73 '21 ctts. Bkl RT 7’21 ct sta. Buff R&Pitts 41%s. Canadian North 7s. Canad North §14s. Canad Pac deb 4s. . Central Pacific 4s. Ches & Ohio cv 5s. Ches & O cv 4 Vs Ches & O gn 41 Chi &.Alton 3s. Chi & Alton 31.s Chi B&Q gn 45 '58. Chi B&Q 1st rf 5s. . Chi & 111 gn 55 Chi Great West 4s. CM & Puget Sd 4s. ORI M&S P rt 4%y, Chl M&St P cv bs. . Chi M&St P 45 '25. . Chi M, g ChiR1& Pacrf4s Chi& W Ind en 4s. cc Cleve Term 51s Del & Hudson 5 Den&Rio G con 4s. D&RGIstrf5s Lirie 1st con 4s.. Erie con ext Trunk sf deb 6s. Grand Trunk 7s. Gr North gen 7s. Gr North gen 5. Hud & Man ref 5s. Hud & Man aj 5s. 11 Central ref 4s 11 Central 5 Int Rap Tran 6s. Int it Transit 7s... Int & G Nor aj 6s Kan City Ft S 4s.. Kansas City S 3s Kan City Sou 5s. Kan City Term 4. Lauke Shore 45°31. . Lehigh Valley 6: < Island rf 4s. . rket St cn 5s. 1 Ry & L 5s &TprindsA MK & T adj 5 5 MK&T6sC Mo Pacific 6s. Mo Pacific gn 5 Nassau E Ry 45 '57 N'Y Centdeb N Y Centdeb 4s N Y Centriss.. New Haven cd 6s. New Haven d 4s 57, New Haven 7s..... N ¥ State Ry 4%s. N Y W & Bos 41;s. Norfolk & W cn 4s Northern Pac 3s. .. Northern Pac 4s. .. North'n Pacri 6s. Northern Pac s... Ore & Culif 1st 5s.. O Short L cn 5s"46. Ore Short L ref 4s. Ore-Wash 1strf 4s Pennsyl gen Pennsyl gen 4128 o Pennsyl gold 7s. Pere Marq 1st 5s. Reading gen 4s RIATk & L 4% LIM&S R s. L&SFpl4sA. L&SFprinss. e Lonlfelumcicoiabovnafinedices Seab'd A Liref 4s Seab'd A Ladj 5s.. Seab'd A L con 6s.. Sou Pacific cv 4s. .. Sou Pacific ref 4s. . Sou Pacific clt 4s. . Southern Ry 1st 53 Southern Ry gn 4s. Southern Ry 61:s.. Third Ave ref 4s. Third Ave adj Union Pac st 4s. Union Pac cv 4s. Union Pac cv 6s. Virginia Ry 1st 5s. Wabash 1st bs Western Md 4s.... Western Pacific 53 West Shore 1st 4s. TOTAL SALES (Par Value): 11aam.. 2800000 12noon 3 848000 1p.am.. 5654000 2pan.. 7287000 STEPS TAKEN TO AID 81tz Associated of of ch 6.—The appoint- ¥French financier as di- rector the Lloyd Royal Belge Steamship Company is proposed a one step in the reorganization of the concerr The shareholder to the ‘extent of 9% 000,000 franes, representing its pres- ent guarantee, Of this sum 40,000,000 franes will be in preference shares and 53,000,000 in capital stock The interest of the banks will comprite 25.000,000 francs in prefer- ence iares and 20,000,000 francs in capital holdings. e present managers, Brys and sen, will hoKl 10,000,000 franes preference, Against the fresh they must rai francs in ordinary shares cent of the profits will be accredited to a reserve. 6 per cent to the pre- ference stock and 5 per cent to the capital shares. The reorganization plan is to be submitted to parliament for ratifiomtion. FILE CLAIMS AGAINST SELZNICK PICTURES By the Associated Press. VEW YORK, March 6.—An fn- voluntary petition in bankruptey w. filed In federal court here today against the Selznick Pictures Cor- poration, producers and distributors of motion pictures. Claims of $3,000 were filed by three companies. The petitioners base their claim on notes which fell due January 1. They are the Commercial Traders Cinema Corporation, the Kloss Machinery Corporation and the Quality Film Titling Company. Inc. The petition declares that the Selz- nick corporation recently transferred to the Pacific Southwest Trust and Savings Bank, one of its creditors, all rights, titles and interests in two pictures completed by the corpora- tion. with the intent to make the bank a preferred creditor. The petition does mot indicate the amount of the assets or liabilities. Lot e Two Dividends Voted. SPRINGFIELD, Mass., March 6.— The directors of ithe American Woolen Company, meeting here today, declar- ed a dividend of $1.75 per share on both common and preferred stock, payable April 15 to stock of record March 16. No change was made in the board of officers. By the BR( ment M \ STEAMSHIP COMPANY | ‘| chicken. la FINANCIAL {Grain, Produce and, Live Stock WHOLESALE MARKET. Departure of Congress and the tarongs attracted here during the session of the national legislative body was reflected in the meat market vesterday, the week's market open- ing exceedingly dull. Tt was the dullest day in a yea remarked by a local dealer. There is very little demand for meuats, although prime cuts of beef are cheaper. The market on lambs is In line with last week’'s market. An advance of 1 cent a dozen in the £KE market resulted from the fall of snow. The butter market continues firm, with no change in priges. Eggs—Strictly fresh, selected can- dled, per doz 38; average receipts, 6; southern, 45, Live poultry—Roosters, per 1b.. 17; turkeys, per 1b., 30a40; spring chick- ¢ns, per 1b., 30a36; keats, young, each, 80: fowls, each, 25526, d poultry—FKresh-killed spring S, per 1b., 35438; hens, per 1 roosters, per “ib, 19a20; turkeys, 35a40; keals, young, 26 ‘alyes, choice, per 1b. medium, per 1b.’ 10a12; thin, per Lambs, choice, per Ib. 13. i live hogs, fruits—Apples, per bbl, 1.75 5 37 per bbl., 6.00a oranges, per 'crate, Florida, 4.00a5.00.: Lemons, box, 5.0046.00. Grapefruit, 8.00a Tangerines, 3.50a5.00. tatoes, per bbl, No per sack, 2.26a2.50; No. Sweet potatoes, North nearby, 2.50a3.00. crate, southern, 1.50a lettuce, per crate, 1.50a lettuc per crate, 4.50a horthern. 3.00a350 per r southern ZRDlants, 0es, p per e * box, Florida, 2.5045.00. 00 per basket. Peas, basket. Peppers, per 2.50a3.50. Kale, per Spinach, per barrel, v, crate, Florida, 2.50a Brussels iprouts, 26a35. Squash. 0. Florida lima’ beans, 3.50a4.50 ver basket. GRAIN AND PROVISION white, dz, 1.00: bushel, 2504450 Beets, Brussels Sprouts, age, hamper, 1.00:1.25 dliflower, crate, 1.50a 5.00a8.00. Horserad barrel, 2 yams, bushel, hundred, 5.00a7.00. quart, 25a35. Cab- 00a3.00. Savoy, bushel, arrots, baskef, 50a60. crat Oa. Celery, ‘ucumbers, crate, crate, 4.00a6.00; 3.00a4.00. Kale, Lettuce, basket, 7.00a9.00. Peas, bu- geplant bushel, bushel, 1 24.00. Peppe Raddishes, hel, 4.00, Tomatoe: Turnips, basket, 50a60, packed, barrel, 2.50a5.0 e, 100 pounds, 1.5 Cranberries, bar- apefruit, box, Oranges, box, 0a4.25; stra quart. 25440, Tangerines, half-strap, 3.00a4.0 Selling Prices at 12:30, Wheat—No. 1 red winter, spot, no quotatic No. 2 red winter, spot 1.34 red winter, spot, no No. red winter, gar No."3 red winter, gar no_quotations; March, 1.33%. és—None. Corn—Cob corn, new, 4.60 per bar- i contract, spot. 83% per bushel; 2 corn, spot. 853 No. 4, no quota- corn, yellow, No. 3 or per bushel. None. "hite, No. Apple 1el, 041 00: bask. ation 543 per bushel; 0 per bushel; No. . 91 per bushel; ¢ | ea jtations showed in regard to vester- {dax’s advance here ol wet 0% th 4% | prices, it joff, M. i the provision market was firm, infl eceipts, : and light clover, derate demand, 20.00 per ton, ily desirable hay. No. 1, tangled 16.00; No. 1 wheat, top grade mixed, in at a range of 16.00 ith no surplus of rve, 1 00212.50 TODAY'S CHICAGO PRICES. CHICAGO, March 6.—Buying ascrib- to a speculator who of late has been conspleuous on the bear side sudden upturn in the price t today during the early deal- When this buying ceased, how. . the market quickly reacted. Un- | responsiveness which Liverpool quo- counted " as handicap on the bulls, mild weather, 1 c ely domestic winter crop. hich varied from un figures to % lower, with May 1. 118% and July 1143 to 1.143 re follow, se all around to 11 zbove finish and then to benefit Opening on the part of found corn and Zeressive support. opening_unchanged to la% 4%a751, the corn market E little, but soon underwent @ decided general sag. Oats started }4a% lower, May 44%, | hardened a trifle and later turned | easy again. Despite sion houses without any After weakness of hog values, enced by an advance in lard at Liv- erpool i Open. High, TLow. Close. | CLISG LI0% 1I8G 18k 1144 T 4 i1 2 iz 1121 i { Works thi 0 (os® i |apend $1.000.000 in improvements in ARD— May | Juix Igian state is to become a i 50.000.00 | 3 Five per | | packed. RIBS May M 1100 ! R i DAIRY PRODUCTS. H BALTIMORE, March 6 (Special). ive. turkeys, pound. 30a35: poor and ecrooked young chickens, z and leghorn 26; ol 36: small _an ghorns, old roosters ducks, 27a30 and poor, geese, 19a25; : pigeons, palr, 1, each, 40a60. turkeys, pound, a28; poor and; 20; young chickens, | ducks. 27a32; geese. | a3s; medium, 35a36; old tom: breast poor crooked bre roosters, 1 20a25; capon, 1 slip. 30; ss—Loss off, native and nearby, 5: southern, 33a34. Butter—Creame fancy, pound, prints, nearby creamery, adles, 35a40; rolls, 37a38; store & dairy prints, 37a3s; process butter,” 42a43. CHICAGO LIVE STOCK MARKET. | CHICAGO, March 6 (United States Devartment of Agriculture)—Hogs— Receipts, 50.000 head; 10 to 15 lower bulk d 0 to 215 pound aver- age, ., 8.45; top, 8.50 bulk, 25 pound butchers. 8.10a 5.30" packing sows around 7.15a7.35, medium_ pigs m 50a7.25, heavy- weight hogs, §. : medlum, 8.15a 2407 light, 8.3 fight light, 7.75a 540 packing sows, smooth, 7.15a7.50; packing_sows, rough, 6.90a7.20; killing pigs, 6.50a8.15. Cattle—Receipts., 13,000; very slow: killing quality plain; beef steers and butcher she stock weak to 25 lower, mostly 10 to 15 off; several loads be- fore ers and ' yearlings early. 8.0029.25; some held higher: tockers | and_feeders steady to weak: lower grade stockers lower in spots; other classes generally steady; bulk’ desir- able veal calves early to packers, shippers hand-picking up- 50 and above; bulk bologna bulk stockers and feeders, 625a750. Sheep—Receipts, 16,000: opening fairly active: killing classes generally steady; top fat lambs, 15.25 to cit) 15.15 to packers; clipped 2.25a12.85; heavies at ‘medlum 10 good yearling weth- ers, 12.25412.85; choice 112-pound ewes, 75; other desirable light welght, 100a8.50; one double 111-pound clipped PRICE OF CLOTHING NLIKELY T0 SOAR § Only Moderate Advances Now Planned—$4,000 Yearly Wardrobe Too High. BY J. C. Bpecial Dispatch to The S NEW YORK, March 6-—Extreme price changes in the prices of cloth- Ing for men and women throughout the spring, summer and fall, due to the cost of raw wool and of woole. cloths, need net be expect=d. Th custom cutters of the counry ath ercd here today to voice their opin fons as to how much a well dressed man sheuld spend to replenish his yearly wardrobe, but ti the kreat bulk of the clothing trades :nd the public at large previous esiimates of the cutters, ranging over $4.000 a year, represent hopes rather than ex- nectations. Retail clothiers say that it 1s a question of how carefully a man may her than how expensively cr he majority of the readv- nE manufacturers alreads summer and fall. Manufac- turcrs aiso in most cases have ia'd weol stocks to sse them well ity the heavy-weight season. Those rav: iais and cloths have advanced e extent, but the increases hava ther less than expected. Manufacturers Revise Idens. Manufacturers of ready-made cloth- ing, who early in the year talked of increases of $5 a garment to the con- sumer as a result of the rige in raw materials and labor costs, have re- vised their ideas, and there seems a concensus of opinion that the added price consumers will be asked to pay will be not more than half that sum Manufacturers of woolen cloths are still watching the market closels. but_while the flgures showing the world production of raw wool in 182 are undoubtedly low, the supplies of foreign wools are such that a definite check seems to be set to the extent of the advances which domestic growers may expect for their clips in 1923. Retailers of clothing have resigned themselves to lessening the spread between the producer and corn- sumer instead of widening it. Boll Weevil Fight Unchecked. The split between the America Cotton _Association and Dr. Mille) Reese Hutchison will not affect the activity of cotton growers of the South against the boll weevil, accord- ing to dispatches from Atlanta today Hutchison heads an_assoclation or- ganized in Atlanta and the friction developed at a meeting hetween the men behintl his organization and the American_Cotton Association, headed by J. §. Wannamaker and Harvie Jor- dan of St. Mathews, S. C., at a meet- ing here. A compromise has been reached by turning over 1o the American asso- clation the funds raised in New Yor by their representatives. Each will ontinue to fight the boll weevil, a* will the Co-operative Cotton ~Asso- tion. a marketing organization which disclaims affiliation with either. Raflronds Busing Equipment. The extent of the equipment pur- chases by railroads has been thor- oughly emphasized by the orders re ceived by the Baldwin Locomotive week. The Southern Pa- cific Compuny has placed an order with Baldwin for forty locomoti costing $2.150,000 and another for ten engines with the American Locomo- tive Company. i Julius Kruttschnitt, chairman of the Union Pacific board, announced that work was started today on con struction of the 100-mile gap whicii will connect the Southern Pacific of Mexico with the National Railways of Mexico lines. This work will cost be- tween $8.000,000 and $10,000,000. About $3,000,000 also will be spent by the company in double-tracking two pieces of track in Californfa to accommudate expected freight in- creases next fall. . The Atlantic Coast Line also has ordered 50 locomotives from the Bald- Win works, at a cost of $2.300,000: the Louisville and Nashville has author- ized purchase of 36 locomotives, 4,000 coa) cars, 200 gondolas and 51 pas: senger cars. The Gulf Coast Line wiil ROYLE. Louisiana and Texas, and the Pera Marquette will spend $10.000,000 in improvemenss and new equipment this year. Meaning of Sugar Price Rise. he Gireat Western Sugar Company Wil e an additional $2,000000 to beet sugar producers of the west April 2. as a result of the increased for sugar. The growers are paid under a sliding scale. This, how- ever, is not the final settlement. The proposal to increase the capi- talization of the American Telephone and Telegraph Company to one billion Gollars was regarded today as a logi- cal development, In view of expansion and large betterment program pro- jected for this and coming years. 500 Per Cent Increase in Loans for Building Special Dispatch to The Star. PITTSBURGH, Pa. March 6. Makers of steel declared today they looked for higher prices in many lines during the second half of 1923, Speeding up of production Is going on in practically all plants in this section, and car shortage. with labor the only drawback. Bullding and loan associations in this section are increasing their cap- ital, some of them 500 per cent, to care for building requirements. Home bullders are depending large- Jy on these companies to finance their operations. Wage increases in the building trades amounting to 53 to 12% per cent have gone into effect for over 10,000 workers in this section. Receiver Hopes to Run ‘Railroad to Aid Texas Special Dispatch to The Star. KANSAS, CITY, March 6—W. T Kemper, receiver of the Kansas City, Mexico and Orlent railroad, announc- ed today that he belleved that he Would be able to keep the road in operation _despite the fact that the bill providing for & government loan o the road of $3.000,000 had been tabled in the closing hours of Con- gress. He expects a favorable de- Cision in the federal courts on freight diversions from other roads to tide the road over until other means of raising money are devised cessation of operation by the road would leave hundreds of miles of highly ' productive territory in Texas without rallroad communica- fon. GULF OIL'S BIG YEAR. NEW YORK, March 6—Gulf Oil Corporation reports net Income of $19,852,067, after all charges an inventory adjustment for 1822. Thi is equal to $4.564 a share on the com- pany's outstanding capital stock of $25 par value. 1In 1921 the company showed net of $9,068,787, or $25.02 a share on the capital stock of $100 par value. The surplus for 1922, after charges and dividends, amount- ed to $17,578,117, as contrasted with $6,900,861 the previous year, DIVIDENDS RESUMED. NEW YORK, March 6.—Directors of the Tennessee Copper and Chem- lcal Corporation yesterday voted a dividend of 25 cents on the company's 94,226 shares of capital stock of no par value for the first auarter of 1923, This is the first dividend de- clared by the company since 191 when it paid $1 a share for the year, and it was announced that this ac tion meant resumption of dividend at the old rate. S