Evening Star Newspaper, March 8, 1923, Page 28

-8 SHARP REAGTION N STOGK LT Prices Drop Rapidly Before Support Is Encountered in Unsteady Market. BY STUART, P. WEST. Special Dispatch to The Star. NEW YORK, March 8.—The sharp ion on the stock exchange today did not come as any surprife after the wild performances of the last week or so in the industrial list. iverybody of experience knows that When fireworks of this sort are being <»t off, conservative sentiment is an- tagonized and distribution of stock from strong hamds goes on. 3 There was much difference of opin- ion today as to how far the setback was likely to go. In many of the late icaders—taking the low prices of the day as compared with the high of the last week—it had already covered derable ground. arly Drive Falls. the carly trading some empts were made to put stocks. Cosden Oil was the Maxwell Motors and were others. But were quickly s s it was seen Yhat the selling pressure was i sreasing in the general list. Once rices were headed definitely down- d, professional traders took the <hort side and worked aggressively {o_accelerate the decline. Baldwin Locomot American Locomotive and Studebaker ~each broke © points_before support w encountercd. General Asphalt w it nearly 4 points from Wednesday's high. The olls went down easily with particular weakness in Pacific Oil and Phillips Petroleum. A “curious feature was that the rails, although in the recent market ihey have had comparatively slight advance, vielded as readily as any. “‘hese stocks have been so persistent- 1v bulled in brokers’ letters that they have attracted an unstable following which on a day like today was easily dislodged Review and Outlook. In most of the principal markets o tendency of prices today was downward. This was true of the eatar part of the stock exchange investment bonds and to a less extent of cotton. ) German marks kept on with their recovery at the outset of the day, sell- ing at 511 thousandths of a cent, as against 44 a week ago, but later the rate came down again. Quite likely iie reaction, reflected disappointment that so far efforts to stabilize the ark have not involved any change in the policy of reckless note e pansion. The latest reichsbank state- ment reported an increase of mearly 100,000,000,000 paper marks issued to the public. which if not up to the vacord for a single week is very nearly so. . Real Values Overlooked. For an hour or so during the fore- noon the stock market had quite a hit of a shake-out. When symptoms of real wealkness developed. support- ing orders were rushed in and an irregular recovery followed. It was, nevertheless, the first important check ~which the market has had since the increase in federal reserve rates two weeks ago. There was nothing in the news of the day to account for he decline. The speculation as it has been conducted for the last fort- night has appeared to cautiousl minded people as altogether exce: ~ive. Judgmen of what are real alues do not change so suddenly and iolently as to warrant 10-point jumps in a single day. hen this happens, as it has frequently in the r ent market. it simply means that speculative pools are running wild. New Kennecott Directors. A change in the directorate of the Kennecott Copper Company which will place three members of the Utah Copper Company board on the board of the forner he first step toward completing ti orption of Utah b ennecott enid today th some exch, hares on the basis of one sha ah for 1% shares of Kennecott had already taken place by big holders of Utah, This offer is apen to other holders of Utah at an time they to make the e “hange. Kennecott direc- tors will s M. MacNeill, president; Jackling, vice presi: llent and_ managing directo,r and “harles Hayden,. vice president in charge of finance of the Utah com- pany The low During further att up t one of the liupp Motors th demor ‘bandoned 3 s D. prices_on the stock ex change were reached around midday. Supporting orders then made their appearance and prices rallied sharply. Steel shares were selected for leader- ship because among the industrials were the group which in the ket of the last week or two had paying les 3 de news. The equip- 1 up sharply, and » of the oils and motors. Railway Shares Quiet. Railway shares did better. but still fafled to show the least enthusiasm er the latest figures for carioad- for the week ending Feb- chich showed an increase 15 over the week before and continued to break all records for the season. Based upon these car- inading statistics, which so far have been a trustworthy indication, the February traffic results will prove to liave been even more favorable than those of January. Crossing 135. American Locomotive was up 3 poinis from the low of the forenoon and stood at a The strength of steel common did as much as anything to steady the gen- wral list, but the rapid advance oc- eurred in oth members of the roup like Gulf States, Republic Iron nd Steel and Crueible. “w WOOLWORTH SALES GAIN. W YORK., March §—F. W. Woolworth Company reports sales $11,230.818, an_increase of : per_cent over those of February, 1922. This brought the aggregate of sales in the first two months of the current yvear up to £22,278559, compared with $19,614,541 in the corresponding period of 1922, an Increase of 13.58 per cent. On the increase reported for February, the old stores, or those operating more than were respongible for for the two months' stores accounted for the gain. old of the $2.135,526 ROAD BONDS AWARDED. BALTIMORE, March 8—Dorchester county has awarded a $30,000 issue of lateral road 4% per cent bonds to Strother, Brogden & Co. Macku- hin, Goodrich Co. and tha Contin- ental Company. which syndicate sub- mitted a bid of 101.59. Other bids were as follows: J. A. W. Iglehart & Co.. 100.4417; Weilepp, Bruton & Co. and Wall & Alexander, 100.412; rank B. Cahn & Co.. 100.39142, and isquitable Trust Company and J. S. Wilson, jr., Company, 100.372. _TICKERS ORDERED OUT. NEW ‘YORK. March 8.—The New York Stock ¥xchange today ordered the vemoval of tickers from the liokerage offices of Beazell & Chat- -1d in Cincinnati, but gave no ex- planation of its action. LIVERPOOL COTTON. LIVERPOOL, March 8. — Cotton — Spot, limited demand; prices steady. tGood middling. 17.01; fully middling, 16.86; middling, 16.76; low middling, 16.61; good ordinary, 16.01; ordinary. . Sales. 7,000 bales. including 0 American. Receipts, 19,000 bales. including 18,800 American. Futures ~losed quiet: March. 16.35: May, 16.23; “14.%1; December, January, 14.1 . ~FIN attention than any | new high. | ANCIAL THE EVENING NEW YORK STOCK EXCHANGE Recsived by Private Wire Direct to The Star Office For Revised Close of Stock Market see 5:30 Editiorr of The Evening Star. Adams Express. Adv Rumley. ... Adv Rumley pf. Afr Reduction. . Ajax Rubber. Allled Chemical. Allis Chalmers. Am Agr Chem. . AmAgrChempt. Am Bank Note. . Am Beet Sugar. Am Beet Sg pf. . Am Bosch. . Am Brake Shoe. Am Can. AmCanpf... Am Car & Fdy. . Am Cotton Oil. . Am Cotton Oil pf. Am HidesLeath AmHlide&Lea pf |Am Ice. . . Am Internat’l Am La France. . Am Linsced. Am Locomot! Am Loco pf. Am Metal, Am Radiator. .. Am Roll Mill pf. Am Ship & Com. Am Smelting. .. Am Smelting pf. Am Snuff. Am Snuff pf. Am Steel Fa: Am Sumatra. Am Sugar. . |Am Tel & Cable Am Tel & Teleg. Am Tobacco. ... Am Tobacco (B) Am Tobac pf (n) AmW Wk 6% pt Am W Wk 7% pf | Am Woolen. I Am Writ Prpf.. Am Zinc & Lead. Anaconda...... Ann Arbor. Ann Arbor pf... Asso Dry Goods. Assoclated Ofl. . Atchison. .. . Atchison pf. Atlan Bir & Atl Atlan Cst Line.. Atlantic Fruit.. Atl Fruit ctfs.... Atlantic Guif... Atlantic Gulf pf Atlas Tack..... Austin Nichols. . Baldwin Loco Balto & Ohlo. ... Barnesdall (A). Batopilas Mining Bayuk Bros. ... Beechnut Pack. Beth Steel. ..... BEth Steel (B).. Beth Stl 7% (n). Beth Steel 8% pf Booth Fisheries. Brit 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. Butterick...... Caddo Oil California Pack. Calif Petrol. . Calif Petrol pf.. Callahan Zinc. . Calumet & Ariz. Canad'n Paclfic. Central Leather Central Leath pf CentRRoOfNJ. Cerro de Pasco. . Certain-teed 1st Chandler Motor. Chesap & Ohlo. . Ches & O pf wi. Chi & Alton pf.. Chi Great West. Chi Great W pt. Chi & EastIll. .. Chi Ml & St P ChiMil&StPpf. Chi & Northwn. Chi Pheu Tool Chi R1& Pacific Chi R I&P 6% pt Chile Copper. Chino Copper. Coca-Cola. . Colo Fuel Colo & So Columbia Gas. . . Columb’a Graph Colum Graph pf. Com Solvents A. Com Solvents B. Comp Tabulator Cons Cigar Consol Gas Cons Textlle Cont Can.. Cont Can pf. Corn Products. . Continental Mot Cosden & Co.... Cosden pf. Crucible St Cuban-Am Sug. Cub Cane Sugar. Cuba Cane Spf. Cuban Dom'ican. Davidson Chem. De Beers....... Del & Hudson.. .. D Lack & Wstn. Detroit United. . Dome Mines. . Dupont (ET)... Dupont deb . Eastman Kodak Elec Stor Bat. .. Elk Horn Coal. . Emerson-Brt pf. Endicott-John. . Endicott-Jno pf. Erle. Erie 18t pf. 2 Exchange Buff.. Falrbanks Co. FamousPlayers. Famous Play pf. Fd Mines & S pf i FifthAvBusw i { Fisher Body. ... | Fisher B of O pr. | Fisk Rubber. Flelshman. . Freeport Texas. Gen Am Tk Car. | Gen Asphalt.... Gen Asphalt pf. Gen Clgar Gen Electr! Gen Motors Gen Motors pf. . Gen Mot 6% deb. Gimbel Bros. . ... Gimbel Bros pf. Goldwin Corp Goodricn. Goody'r pr bf Wi. Granby Consol. Gray & Davis... Gt Northern pf Great Nor Ore.. Gt West Su pf.. Greene-Cananea Guantanamo Su. Guif Mo & Nor. . Gulf Mo & Norpf Guif St Steel . Gulf St 1st pf Harbishaw Cab. Hayes Wheel.... Houston Ofl. ... Hudson Motors. Hupp Motors. ... Hydraulic Steel. Illinois Central. Indiahoma. . Indian Refining. Inspiration. . amterboro Met. . Interbor Rap Tr. InAgaChemical in Ag Chem pf.. Int Cement. InCombustion B int Harvester. .. Int Mer Marine. Int M Marine pf: it Nickel. . . 1ntl Paper... Intl Paper (sta) Int Shoe.... . Intertype Corp. Invincible Of1 Iron Products 1sland Oll. . Open. High. Low. Close. 79 19 52 65 14% 8 49 34% 6% 90% 44 79 56 78% 104% . 114% 189 16% 30% 13% 73 108 29 12% 36 184% . 121% 55 8415 9% 18% 67% 102 . 150 101 39% 33% 80 56% 125 kil 19 52 65 14% 78 49 347 67% 90% 44 9 56 9% 105% 114% 189 16% 30 18% 3 108 20% 128, 36 135% 121% [1] 84y 98 18% 673 102 150 101 397 33% 80% 5634 1264 1561 1644 104 Bdv 915 105% 82 1% 5274 19% 40 T6% 126 90 1% 19% 59% 97% 105 1% 37% 8% 32% 27% 4% 116 14% 6 41% % 19 955 36 42% 277% 9% 11 43 16% b57% 2% 69% 38 19 68'% C Jewel Tea...... Jowel Tea pf. Jones Tea. Jones & L'ghl pt Kansas & Guif. . Kansas City Sou Kayser (Julius). Kelly-Spr Tire. . Kelsey Wheel Kennecott. . Keystone Tire Kresge (S S). Lake Erie & W.. Lee T & Rubber. Lehigh Valley. . Liggett & Myers Lima Locomo. .. Loews Inc. . Loft Inc. ... ‘Loose-Wiles Louis & Nash. Mack Trucks Mack Trucks 1st. Mack Truck 2d. Macy Co. 4 Mackay Cos pf.. Magma Copper. Mallison & Co Manat! Sugal Manhattan Ects Manhattan Shirt Murket St Ry. .. Market St prior. Market St pf. Market St Ry Marland O1l. . Martin-Parr: Mathison Alkili. Maxwell (A). Muxwell (B) May Dept Stores MecIntyre Porcu. Met Edisen pf Mex Seaboard Mex Sbd ctfs Miami Copper Middle St OM Midvale Steel. .. Min St P&SS M. Mo, K& T wi. Mo, K & T pt wi. Mo Pacific. Mo Pacific pf. Montana Power. Montgom'y W'rd Moon Motors. Mother Lode Nast Notors. ... Natl Biscuit w 1. Natl Acme.... atl Conviuit Natl Enameling Natl Lead. Natl Ry of M 2d. Nevada Copper. N Or Tex & Mex. Y Air Brake Y Air Brk (A) Y Central. NYChi&StL.. Y Dock....... NY NH & Hartfd. NY O &Western NY Shipbuilding Norfolk & West. North American North Amer pf.. North Amer wi.. orth Pacific. .. Ohio Bdy & Blw. Oklahoma Prod. Ontario Silver. Otis Elevator. .. Otis Steel Otis Steel pt.... Owens Bottle. .. Pacific Develop. Pacific Gas & El Pacific Mail. FacificOll...... Pac T & Tel pf.. Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Parrish & Bing. Penn Seabd Stl. Pennsylvania. Pere Marquette. Pere Mrq prpf. . Philadelphta Co. Phillips Pete.... Pierce-Arrow. .. Plerce-Arrow pf Plerce-drrow ris Pietce-Arrow pri Plerce Oll...... Flerce Oil pf. ... Piggly-Wiggly. Pitts Coal. Pitts & W Va | Pond Creck Coal Porto Rico Tob. Pressed Stl Car. Eroducers & Ref. Prod & Ref pf Pub Serv of N Pub Serv pf. Pullman Co. Punta Alegre. Pure Oil.... Pure Oil 8% pf Raflway Stl Spr. Ry Stl Spr pt. . . Kay Con Copper Reading. Remington Replogle Steel. . Rep Ir & Steel .. Rep Ir & Stl pf.. Reynolds Spring Reynolds Spr rts. Rey Tobac (B).. Royal Dutchi. ... St Joseph Lead. . St L & San Sran. St L Southwn. .. St L Southwn pt San Cecllia Sug. Savage Arms. Seaboard Air L. Seurs Roebuck. . Seneca Copper.. Shattuck-Ariz Shell Tr & Tra Shell Union. Stmms Petrol... Simmons. ... Sinclair Oll. Sinclair pf. Skelly Oil. 8% 18% b2 65 18% 7 48% 34 67% 9015 44 79 8% 18% 52 65 14 71 481 34 68% 90% 44 79 53% 63% 78% T84 102% 1087 114% 114% 186 186% 16% 16% 301; 30t 8% 13% T 7% 105% 106 281 281 121 124 364 3o% 13235 132 1211 121% 53T _b4_ 8415 97w 98 18% 18% 66% 66 102 102 150 150 101 101 104% 104% 31 31 178 17% 528, 19% 40 75% 126 126 103%_103% 90 28, 2 121% 12: 514 112% 59 16% 28 % 115% 124 18% 29 11% 89% | S100 South Pacific. Southern Rwy.. Southern Ry pf. Spicer Mfg Co.. SLOil of Calif... 'l StOilof NJwi. 38 | St Oil of N J pt.. L9%1 Stecl & Tube pf. 69% | Sterling Prod. .. 50'%| Stew’t-Warner. 81% | Stromberg Carb 89 | Studebaker..... . 185 | 'Submarine Boat 14% | Superior Ol. ... 4% | Superior Steel. . 46% SweetsCoof Am. 998, | TennCopper.... 714 | Texas Company. 8% | Tex Gf Sulphur. 98 | Texas & Pacific. 29% | Tex & P C&OIl.. 147 | Third Avenue... 78y | Timken Bearing 34 ‘Tobacco Prod... 107% | Tobacco Prod A. ‘321 3214 TolStL& W pf. 111 11% | Trans Contl ON. 19% 19%{ynjon Bag & P.. 58% 58%) ynjonOl....... 93% _95% | Union Pacific. . . 105 105 | ynjon Pacific pf. 1% 1% UnTank Crpf.. 376 375 | Un Alloy Steel. . 71 71t | United Drug.... 31% 31% | United Fruit. 25% 26% | United Ry Inv.. % 47| Utd Ry Inv ... nit Retail Strs. 1o 11! US Cast Ir Pipe. & 1% luscasticPpt. 41% S Food Prod. . 110 S Hoftman Mct 19° U S Indus Alco.. 9% U S1nd Alco pf. 36 | USRealty 335 | G S Realty pr. 33| U S Rubber. .. 4| uss Toy | U SSteel pt. 4254 | US Tobacco. ... 141 | Utah Copper.... 55% | Vanadium Corp. 72% | V Raalte 1st pf. 69% | Va-Cr Chemical. 37% | Va-C Chem (B) . 18% | Va-Car Chem pt 67%|ValrCoal & C.. % ! Vivadou. . A 113% | 1508 Open. High. 21 - 21% W 57% 58% 108% 108% 2% 2% 23% 24 4z% 42% 57 BTl 113% 43% 9% 199% 324 31% 69% 210 70% 20 104 57 1651 7% 43% 9% 199% 324 1% 691y 210 707% 20 10 561 76 97 42 14% 1 1 1301 1y, 13% 1T8% 11 6% 1474, 12% 6343 4T% 1% 82 11t 46% 93k 144 B3y T5% 143 4%y 122% 11915 1614 9% 45' 29 100% 103 107% 62Y3 108% 120% 120% 871 6T% 4% 4% 2% 42% 98% 93% 24 24% 16% 16% 6T% 68% 66 66 191 19% Low. 657% 108% 21, 28% 424 65% 12 42% 9 199 32% 30% 685 210 68% 19%° 10 56 150 % 97 90 66% 68 5% 843 62% 42% 105 424 155 1 69% 1804 av 17 93ty 56 504 YTy 9 21y 19 19% 13% 113% 113 147 107 63 46% 1 8% 114 46 93y, 13% 813 e 14 111% 37 81% 1785 18% 54 80'% 32 70 4% 19% 68% 100% 101 106% 61t 107% 120 67% 3% 41% 98% 23% 16% 6T 65 19% 4 Close 20% % 68% 108% 2ty 284 425 E6% 112 43 9 199 32% 80v, 689 210 69% 19% 10 56 151 76% 97 9 u%h 68 36 4% 62'% 41 Liverpool STAR, HEHLGRADE BONDS " AGANGOLOER Reaction in Investment Is- sues Is Chief Feature of Today’s Trading. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, March 8—Reaction in high-grade Investment issues was the feature of the bond market today, as vesterday. Large blocks of euch first-grade rails as Northern Pacific 3s were offered over the counter and smaller lots were sold.on the ex- change at new lows for the year. Apparently the fallure of the report- ed increase in the rediscount rate to materialize had no reassuring effect. Statements of bankers that no in- crease was necessary at this time, in view of the satisfactory position of reserve ratios were likewise disre- garded. The terms of the new government financing, while recognizing the change In the money market, could not be regarded as surprising. The certificates offered today t rate, against 4 rcertificate It is straining to draw the con- higher rates for xpected in the near If this were not the expec- . however, it is difficult to as- Sign « reason for the persistent liqui- dation Central Pacific first 4s and W York Gas, Electric Light, Heat and Power 4s are illustrations of the grad of bonds in supply. Whate interest was shown on the buying side w confined to spec- ulative and semi-speculative rails and utilitie: mber. wever, point, . still clusion Second Grade Lower. Second-grade bonds lost ground al- most as much as the high-grade in today's market. Convertible bonds shared the treatment accorded to their respective stock. Both issues of the Chile Copper Company reacted, as did the Cerro de Pasco §s. bonds mov irregularly. r. however, than high- grade rails or industrial There was little change in the for- eign group. French bonds maintained their gains fairly well. most important new issue of was the $15.000,000 Duqunesne Light 7 per cent first preferred stock. PRICES STILL HIGHER INCOTTON MARKET All Old Crops Score New| Records in First Half Hour of Trading. By the Associnted Pross W OR March S —Better cables than due, further accounts of the determination of holders of long March contracts to force delivery of cotton and the unofficial statement by a government cotton specialist th there is no indication that prices had reached the point where consumption was being checked, all combined to put the cotton market to new high levely for the season on the old crops, in the first half hour of business to- ay. March rose to 31.18 and May to 9. Hera the old crops were 15 to points up. October at its best ded 10 points net higher at 26.42, | made a net loss of 10] the onening. Futures | Mar 31.0 0.20; October, 26 Ler after having points around apened a Selling: Reports from Constantinople that Turkey had called all Moslems to the colors checked the advance. Seiling jincreased on telegrams from Tallulah, La., stating that the government lah- oratory there had announced that the survival of weevils was 19 to the ton of moss against 127 last year. March inotices for about 1.600 bales, circu- lated throughout the morning, caus- ing liquidation in that position. Late in the morning March was off toi 30.80, with the list 7 points higher to & ipoints lower than the close of yes- rday. Quotations in New York. NEW YORK. March S.—There was renewed covering by near-month shorts in the cotton market this morning. First prices were steady jat an adv e of 3 points on July, {but generally 7 to 1% points lower under realizing and scattered south- jern selling. These early offering: Were very quickiy absorbed, however, and within the first half-hour M contracts =old up to 3147, or 20 points net higher. and all the old crop months made new high records for the season. The strength in_ these positions pulled the price of October up to 26.93, or & points net higher, in spite of continued good weather in the South and scattered southern selling of the early new crop dellveries. cables said the market there was chiefly influenced by the advance in American markets and Covering by shorts. Futures opened steady, Marc : May. 31.18; July, 30.35; October ; December, 26.28. NEW YORK EGG PRICES. NEW _YORK, March 8.—Eggs, ir- regular; receipts, 19,780 cases; New Jersey hennery whites, uncandled, extras, 44a46; state nearby and near- by western hennery whites, firsts to extras, 39a43; Pacifio_coast whites, extras, 4ladids; do. firsts to extra firsts, 38%a40. PARIS MARKET QUIET. PARIS, March 8.—Trading was quiet on the bourse today. Three per cent Irentes, 58 francs 65_centimes. Fx- change on London. 77 francs cen- | times. Five per cent loan, 78 francs 5 centimes. The doliar was quoted at 16 francs 53% centimes. —————— 10 30 43% 15% 48%% 13 13% 24 19% 114% 118% 6414 954 28% 55% 4% 12 9% 29% 42% 14% 46% 113 13 24 19 114% 118 ‘Wabash pf (A). Waldorf System. ‘Web & Heilbrn. Wells-Far Exp. ‘Western Elec pf ‘Western Md., Western Md 2d. Western Pacific. Western Union. West Air Brke. . Westhse El & M Wheeling & L E White Eagle Oil ‘White Motor. White Oil. Wickwire. Wilson Co. Willys-Overld ‘Will'’s-Overld pt ‘Wisconsin Cen! ‘Woolworth ‘Worthington. ‘Worthington (B) ‘Wright Aero.... Youngstn Tube. 0 T's 5113 33% 218% 38% 1% 9% 5% High. Call Money. .. 4% HOURLY SALES OF STOCKS. 11am..... 430300 12m. 692 000 921300 2 p.m 088 600 5% | E Cuba Sug 73s.. | Kelly-Sp'gfield 8 WASHINGTON, D. €., THURSDAY, MARCH 8§, 1923. [oxnew vorx BONDS oo sxcance] Recelved by Private Wire Direct to The Star Office, For Revised Close of Bond Market see 5:30 Edition of The Evening Star. (Balss are in $1,000.) UNITED STATES BONDS. Bales. High. Low. Lib3%s. 59 10134 10122 Liblst4%s... 75 9830 9818 Lib2d4%s... 201 9820 9800 Lib3d4%s... 428 9866 9850 Lib4th4%s.. 901 9836 9814 Victory 4%s.. 477 100 12 100 10 US4%s1952.. 94 9956 9950 FOREIGN. Bales. High. 22 102% .19 98% 3 ,93% 11 '8 17 92% % 81% 964 1034 100% 102 101 99% 104% 104 110% 90 99% 898 109% 98 94% Close. 101 30 98 20 98 12 98 50 98 28 10012 9954 Low. Close. 102% 102% 9814 981y 9215 9215 97% 98 92w 92% 5% 6% B4 B4N 96% 964 103 103% 100% 100 101% 102 100% 100% 99 994 104 104% 104 104 110% 110% 89'5 89l 99% 99% 88 88l 109% 109% 97% 97% 94% 94% 93% 93% H8 96% 92% 97% 90% 93% 92% 8115 Argentine 7s. Belgium 7%s.... Belgium 6 Belgium Bolivia 8 Bordeaux 6 Brazll 7s Brazil 8s . Brazil 7%s. aee Canada 6s 1926. ... Canada 5%s 1929. . Canada 55 1931.... Canada s 1952 Chile 8s 1941. . Chile 83 1946. Christiania 8s. Copenhagen 5%s. . Cubabl%swi Czechoslovak Denmark 8s Denmark 6s Dutch East I 68 Dutch East T 68 '62 Framerican 1D 7%¢ French Govt 8s. ... French Govt 7% Haitl 6xctfs. ... Holland-Am s f 6s. Japanese 1st 41s. Japanese 2d 4%s Japanese 48 & Jergen U M 68 '47. . Lyons 6s - Marseilles s Mexico 4s. . Montevideo 7 Netherlands 6s Norway 8s Norway 6s ctfs. .. Parls-Ly's-Med 6s. Prague 7%s. . Queensland 7 . Queensland 6s. . Rio de Jan S= 1946, Rio de Jan 83 1947. Sao Paulo, City, 8s. Sao Paulo.State, 8s Serbs Crots Slov 8s. Seine, Dept of, 7s. . Sweden 6s. . SwissConfedsf8s. Ud King'm 518°29 Ud King'm 545 ‘37 UnSteamCopenés. 8 Uruguay 8 3 MISCELLANEOUS. Afax Rubber §s. ... 974 Am Agr Chem %5 Am Cotton Oil 5s. . AmSmelt&R 1stfs. Am Sugar Ref 6s AmT& Tev 68 AmT& Tl trbs. . 3 AmT& Tcltrds.. Anaconda v db Ts. . Anaconda 1st 6 Armour & Co 4% Atlantic Refin Bell Tele Pa 7s Bell Tole Pabsr Bethleh'm Stl rf 53 Beth'm St pm bs. Beth'm Stls f 6s... Brier HSt st 5%s Bklyn Edison 7s D. Bklyn Ed gen 58 Bush T Bldg 5s Cerro de Pasco 8s Chile Copper 6s. Chile Copper 7s. .. Con Coal Md 1st 55 Cub CaneScv d §s. Det Edison ref 6s... Du Pont de N 7%s. Duquesne Lt 7% Dugquesne Light 63 s @ o AnRANANADDA- e aa 36 39 @ e S cREuRoNaRBonSo=Ra~ton— Empire F&G T%s. Fisk Rubber 8s... Gen Elecdeb §s... Gen Refract'es 6s. Goodr'h (BF) 6les. Goodyear Tr 8s '81. Goodyear Tr 8s"41. Humble O&R 5%s. Indiana Steel 5s. .. Int Mer Marine 6s. Int Paper 1st 5s / Int Paper 1st 5s B. Lackaw'a $ 5s'60. . Ligrett&Myers 53 Lorillard (P) 7s. . Magma Cop cv 7s. . Manati Sug st 7¢s Mexican Petrol 8s. Mich St Tel 1st Midvale Steel 5s. .. Montana Power §s. Morris&Co1st 4i4s New Eng Tel 5s.. . NY Edison 1st 6%s N Y Tel 6541 N Y Tel 434s. N Am Edison 6s. . N States Pow 5s.. Northwst B Tel 7 Pacific Gas & Bl i3 PacT & T 58 '52. Packard Motor 8s. PhilaCoref6sA.. Producers & Rf 8s. Punta Alegre 7s. Sinclair Ol 7s. ... Sin Crude Oil 5%s. Sin Pipe Line 5s.... South Bell Tel 5s. . So Por Rico Sug 3. St Ol of Calif 7s Steel & Tube 7s. Tide Wat Ofl 834s. Tobacco Prod sf 7s Toledo Ed'n 1st 7s. Union Bag & P 6 U S Realty 68 USRub 18t rf USSteelsfbs. Utah Pow & Lt bs. Va-Car Chem 7s... Va-Car Ch 7%s sw Warner Sugar 7s.. West Union 6%s.. Wickwire Spen 7s. Wilson & Co 1st 65 Wilson&C ev 73%8. Wilson & Cocv 6s. 7 Wirch'tr Ams 7%s 18 108% 10215 —_— BANK THIEF “CONVICTED” AFTER DEATH IN FIGHT Trust Company Gets Verdict for $400 From His Estate. By the Associated Press. FORT WAYNE, Ind, March 8.—A dead man today stood convicted of the robbery of the Huntertown State Bank about a year ago. The bank vault was blown and robbed early in the worning and the same day Ra- leigh R. Townsend was shot und killed in a gun battle with policemen ai Lima, Ohlo. ‘The Fidelity Guaranty and Trust Company paid the bank for its losses and, learning that Townsend left an estate including an automobile and other articles valued at about $500, filed suit against the estate. The principal issue was whether Townsend was guilty of the robbery. Bank employes identified the body and the court found him guilty and awarded the trust company $400. BUTTER GOES LOWER. CHICAGO, March 8.—Butter—Low- er; creamery extras, 47; standards, 46%: extra firsts, 46ad6l% firsts, 45ad51;; seconds, 44adsi Eggs—Lower; receipts, 12,635 c: firsts, 31a31%; ordinary first; miscellaneous, 30a30% o 5 Prr-aBaBualaonuantaw~sanSoasn aaBoammmadeakes & o R waBunabio Ignored Own Advice. From Farm Lite. 5 "gld vour husband have a big trade 5 5, o put off doing his own Christmas shopping till 11 p.m. on the 24th, and got nervous prostration trying to get waited on.” ’ RAILROADS. Bales. High. 25 87 156 80% 10 86% 8 80% 10 94% . 6 1% 38 100 16 80% Close. 86% 79% 85%, 80% 94% 7 99% 80 82% 4% 927 64% 64 5% 93% 89% 89% 114% 112% 79 90% 84 Atchison gen 4s Atchison adj 4s. .. Atlantic C L 1st 4s. él‘l:flnllccn clds Opfindys... B & O gold 4s.. B&OS6s... B&Ocv4y B & O ref 5s. 6 82% B&O PLE&WV 4s. 17 175 B&OSWaiv3ys. 6 93% B&OToledo 4s... 1 64% Bkiyn R T 4s 2002, 64 Bklyn R T 58 5% Bklyn R T 7s '21. 94 Bkl RT 7°21 ct sta. 891 Buff R&Pitts 4158 89% Canadian North 7s. 6 114% Canad North 61,8 112% Canad Pac deb 4s Car Clinch & O 63 Central Pacific 4s. Ches & Ohfo cv 5s. Ches & O cv 41, Ch! & Alton 3s. Chi & Alton 3%, . Chl B&Q gn 4s '53. Chi B&Q 1st rf Gs. . Chi & E Tl gn 6s. Chl Great West 4s Chi M&S P rf 41,5, IM&St Pev bs Chi M&St P 45 '25 I M&S P ov 4. CM&StPgndigs Chi& NWTs...... Chi& NW 6148, “hi Rys 58. ChiRT& Pa, ChiUn Sta 414s. .. Ch1 & W Ind cn 13. 3 CCC&St Lrf 63 A Cleve Term 5%s. Colo & Sou d44s. .. Del & Hd Ist rt 4s. Den&Rio G con 4s. D&RGlstress.. Det Unitea 4%s. .. Erie 1st con 4s. Erlegends....... ir Trink sf deb 6s. Grand Trunk 7s Gr North gen 7s Gr North gen 5%s. Havana ERL&P 53 Hud & Man ref 6s. Hud & Man aj 5s. 11l Central ref 4s. . 111 Central § . Int Rap Tran § Int R Transit 7s. Int & G Nor aj 6s Kan Clty Ft S 4s. . Kansas City s Kan City Sou 5a Kan City Term 4s. Lake Shore 45 ‘28 Lake Shore 45 '31 Lehigh Valley 6 Louis & N uni 4s. Leuls & Nash 5 Louis & Nash 7 Manhat Ry cn 4 Market St cn 55 MiL ¥ g M& StLrf ex §s.. M & St 1st rf 4s. M StP & SSM 615, MK&Tprinisa MK & Tadj 91 87 52' 68% 814 66% 81% 107% 1095 B0 7Ty 9015 73 Saon 1007 3 wmnBe=nSn ADwRannoaan 5% 6715 8374 T9% 93% 91tz 102 B8, 103% 1067 62 Mo Paclfic gn 4s. Montreal Tm 1st i New Or Term 4s OTex & M in N Y Cent deb 6= N Y Centrids. YCenlCcl3 New Haven c d 6s. New Haven d 4s 57. New Haven 7s fr.. N Y State Ry 4%s. N Y.W & Bos 4%s. orfolk & W cn 4s Northern Pac 3s. Northern Pac 4s. North'n Pacr 1 63. Northern Pac bs Ore & Calif 1st 5s. . O ShortLenbs'46. 2 OraShortLrefds. 7 Ore-Wash Istrf 4s 3 Pennsyl gen 5s. ... 20 Pennsyl gen 4 6 Pennsyl 61;s. Pennsyl gold Pennsyl con 413 Pere Mrq 1st 4s Pere Marq 1st 5 Reading gen RIATK& Lilgs. .. St L IM&S R&G 1s. & S 4s°29, S F prn bs. S F inc 6s. S F 558 D, & S F adj 6s. W Ist 4s. 6414 91 TEY, 74 60 Seab’d A L adj 58 Seab'd A L con 6s Sou Pacific cv 4s. Sou Paci Sou Pacif Southern Ry 1st 63 Southern Ry gn 4s. Southern Ry 6%s Third Ave ref 4s. Third Ave adj 5s. Union Pac 1st 4s... Union Pac 1st rf 43 Union Pac cv 4s.... Union Pac cv 6s Virginia Ry 1st 53. Wabash 1st i Western Md 4 Western Pacific 3s. ‘West Shore 1st 4s.. Wheel & L E cn 4s. TOTAL SALES (Par Value): 11a.m.. 3369000 12noon & 828000 1pm.. 7483000 2p.m.. 8965000 — TREASURY CERTIFICATES. (Quotations furnisheq by Redmond & Co.) Noon.—— Rate—Maturit; ‘Bid. Ofter. ane 15, 1923.. cptembor 15, December 13, 1 b 101 7-1¢ 101 5 16 5 March i Septemby 4 December 1 B WALL STREET NOTES. Motor Output Close to Record for All Time. Spectal Dispatch to The Star. NEW YORK, March &—February was the third largest month in mat- ter of production in the history of motor Industry, 270,799 passenger cars and trucks having been turned out, & compared wtih 289,011, in June, 19 and 272,538, in August last. New York bank clearings, $678,- 000,000; New York bank balances, $61,000,000;: New York Federal Re- serve Bank credits, $54,000,000; Bos- ton bank clearings, $59,000,000. Tx-dividends today: Acme Wire common, Hollinger Gold, Rose Mines, Niagara Fally Power common, United States Realty Improvement, Regular quarterly dividends today: Cluett Peabody preferred, Bucyrus Company, besides regular quarterly, a dividend of 3 to 1 per cent on ac- count of back dividends on preferre Pennsylvania Power and Light pre- ferred. ElI Paso ctric common, Hood Rubber common. Savannah Elec- tric Power first preferred, series A. and algo regular semi-annual on pre- ferred: Auto Car Company of Ard- mors preferred, Dayton Light and Power Company, AMERICANS BUY WOOL. LONDON, March 8.—At the wool auction sales yesterday 12,744 bales were offered. There was improved competition. America bought fine and riedium greasy cross-breds at steadier rates. ‘There was a good d mand from the continent, but home bidders were qulet. i 1|* FINANCIAL, | Grain, Produce and ' Live Stock WHOLESALE MARKET. “Very draggy.” was reported of the condition of the meat market, There is an abundant supply of all kinds of meat on hand, dealers re- ported, with but little demand and weak prices prevalling. Only small receipts of eggs were in evidence this morning, and prices were the same as the past two days. Saturday and Monday the receipts were falrly large, but the storm caused a decided decrease, and prices er conditions make the roads better. The butter market continues firm. with no change in prices. and the checse market continues steady. Eggs—Strictly fresh, selected can- dled, per dozen, 37a38; average receipts, lfiilsoutknurn. 36. i ve poultry—Roosters, per 1b. 17; turkeys, per 1b., 30a40; spring chick- ens, per lb., 35a36; keats, young, each. 60: fowls, each, 26a27. . Dressed poultry—Fresh-killed spring ickens, per 1b., 35a40; hens, per 1b.. o Zsihroos(ers. per 1b., 19a20; mrlectéh. or ib., 25a4 s, youns, : Hoas0. a40; keats, YOunsg, Live stock—calves, choice, per 1b.. 13: medium, per Ib., 10a12; thin, per b, 8a. Lambs, cholce, per Ib. 13 Live pigs, 3.00a8.00 each; live hogs ver Ib.. 5. s Green fruits—, es, per bbl, 1.75 2700 Delicioum, N 0 per bbL, 6.00a 9.00. * California per crate, 5.00a6.00; Florida, 4.0025.50, Lemons. S';!;’ box, 5.00a6.00, (rapefruit, 3.50a Sweet 1.00:2.4 per Romaine I Letiue 300; 2,00} 500, 100 lottuce, per crate, ttuce, per crate, . _morthern, 3.00a4.00 per nearby cabbage. outhern, 2.50a Eggplants, per crate, Tomatoes, per box, Florida, 2. Beans, 4.00a5.00 per basket. 3.0045.00 per basket. Peppers, per cEate, .50a3.50. Kale, per 3 , per barrel, & Celery, crate, Florida, 2.50a 50 Lirussels sprouts, 25a3b. Squash, 1a3.00. basket. GRAIN AND PROVISIONS. BALTIMORE, March 8 (Special).— Potatoes ; 150 Peas, sweet, barrel, 70. Beets, hun- Brussels sprouts. . Cabbage, hamper, avoy, bushel, basket, 50a60. 2 Cele dred, quart, 2. 1as.00; Kale, bar- basket,’ 2.252 ,'7.0049.00, | 1.75a2.00. Peas, . Peppers, crate, 1.50a3.00. basket, 50a2.00. Spinach, a2.50. Squash, basket, Tomatoes, snips, bushel, shel, 3.50a: Radishes, barrel, 2. Cranberries fruit, box, box, 5u40. Orange: trawberies, quart, . half strap, 3.00a4.00 Selling Prices at 12130, 1 red winter, spot, N d winter, spot. Spot, No quo- red winter, garlicky, red winter, garlicky, no 1.33%. ta o. 1.33%; No. 3 March, Cob corn, new, 4.60 per bar- contract, spot, $& per bushel corn, spot, 85; No. 4, no quota~ track corn, yellow, No. 3 or 80 per bushel. one. hite, No. 2, 541 asked per No. 3,531z asked. earby, 85a30 per bushel: cestern export, spot, 91% per 0.3, no quotations. ¥ eceipts, 11 ton: top grade timothy and light clover, mixed, in moderate demand, at a range of 16.00 to 20.00 per ton, with no surplus of able hay. 1, tangled ry wheat, nominal, 12.00a13.00. i CHICAGO, March S.—Wheat scored a moderate advance in price today Quring the early dealings, the chief factor being unexpected strength in the Liverpool market. Dry weather in western Kansas and Oklahoma <6 to ald the bull side of the most traders, ho r. which ared to be taking no decided nd, preferring to await the gov {ernment report this afternoon as to { farm reserves. The opening. which irAn);(Hl from 3% to % higher, with May 1.18% to 118 and July 1145, {vas followed by a little reaction and then by an upturn slightly higher | than before. Corn and oats were firmer with wheat. After opening 13 to % higher, May 74 to 74%, the corn market Sag- ged somewhat, but soon recovered. Oats arted 13 to % up, May 45, T held near to the initial range. Despite lower quotations on hogs, the provision market averaged higher, influenced apparently by the action of other commodities. Open. High. Low 1187 BALTIMORE, Md., March 8 (Spe- cial).—Poultry—Live turkeys, pound, . 25; poor and crooked 28a32; Bgeese, um, 37a38; chickens, apons, . 30a3 s off)—Native and nearby, 31: print 4348 ladles, packed, 57; ess butter, 4 CHICAGO 1AV CHICAGO, March 8 (United State: Department of Agriculture).—Hogs— Receipts, 48.000 head; slow, 10 to 15 Jower: bulk desirable 150 to 180 pound averages. 8.20a8.23; top, 8.25; held higher; bulk, 200 fo 225 pound butchers, 8.10a8.15; bulk, 240 to 325 pound butchers, 7.9028.00; big pack- ra bidding less; packing ows around : desirable pigs mostly 7.26a eavywelght Nogs, 7.8048.00; medium, A light, 3.00a8.25; light Hght, packing sows, smooth, a7.46: packing sows, rough, 6.90a killing pigs, 6.75a8.00. Cattle—Recolpts 7,00 head; active, beef steers, better grade beef cows and heifers largely 25 higher, spots up nore on beef stecrs; desirable handy steers comparatively scarce; killing quality less desirable than Wednes- day; top matured steers early 9.70; few head about 1,150-pound average. 30.40; best long yearlings early 9.60 bulk beef steers, 8.25a9.50; canners and cutters, 15 up; bulls strong to 10 higher; veal calves steady to 25 lower; stockers and feeders firm; bulk canners around 5.25; cuttlets, 3.65a4.00; bulk desirable vealers around 9.00; common light vealers, 50 and below; upward to 11.00 and ahove purchase 150 to 180 pound Vealers to shippers; bulk desirable bologna bulls, 4.7524.90; bulk stock- ers and feeders, 6.50a7. Sheep—Recelpts 14,000 head; gener- early top 15.00 to 14.75 to packers; light- 3 ; four loads 75; 92-pound desirable fat ewes up to 3.50; one load 112-pound clipped wethers 7.50; feeders quiet. BAR SILVER QUOTATIONS. LONDON, March 8-—Bar silver, 315-16 pence per ounce. Money, 1% per cent; discount rates, short billy and thres-month bills, 25-16a2% per con! NEW YORK, March 8. ‘orelgn bar silver, 66%; Mexican doliars, 51. probably will not change until weath-t Florida lima beans, 3.50a4.50 | no | to packers | AMAZING INCREASE IN GALIFORNIA OIL Supply Now 665,000 Barrels Per Day—Straw Hat Plants Rushed. BY J. C. ROYLE. Special Dispateh to The Star. EW YORK, March §.—The supply of crude ofl from the Calffornia fields has now reached the tremendous vol-/ ume of 665.000 barrels a day, accord- Ing to an announcement today by the state petroleum bureau. That fact is but one of the evidences of increased ctivity of petroleum producers all over the country. The Californa in- crease has resulted from the 269 new wells started since January 1. Twer - ty-four new wells have been started there this week. The Teapot Dome and other Wyo- * ming districts, the Montana areas, the Smackover fleld in the southwest and practically every oil district from Pennsylvania west has responded 1o the demand for more oil. These op erations have helped to emphasize shortage of lubor in scores of in trial and manufacturing lines Copper Miners' ages Lp. Export copper has reached a newy high level as 4 result of German bus ing and wa 1 ases in the 1 copper mines, amounting to 15 t per cent, went into effect today, miners getting from $4.15 to $4% day and laborers underground to $3.80. The strength of the lead and zinc markets had put @ premium o labor in the tristate lead and zim fields ad | received rtised for mechanics and reply from one superannu {ated man.” said the manager of a bix Pittsburgh industrial corporation to day. “We advertised for a clerk and had to call the police to control pplicants. There are plenty of white ollar men, but a mighty scareity of those who labor with thelr muscles * Recrulting From Farms. Laborers are leaving the farms of the south and west to work in stee mills, shoe and clothing factories i{fire clay plants, according to repo from St Louis. Ohio factorles are sending south for negro labor. 5 Reports that several thousand ne gro coal miners were to be recrufted to work the Ruhr mines at $7 a da by employment agents working fo the French government were laughed at today, as miners under the prese: scale here would find little indu ment in such an offer, even if it we: actually made. ‘Tobacco Sales Increase. Business of tobacco manufacture:< distributors and retail dealers has taken a remarkable spurt since Jan uary 1. The management of the Schulte stores reported today tha sales for February had inereased - Der_cent over those for thie corre sponding month of lust year, Jumpine from $1.61 26 in 1 to $1.990.2 Hatmakers are busy. Straw he: manufacturers are operating thcl plants at capacity and heavy ship ments are being made to every sec- tion, the largest at present going t the ‘South and southwest. Panamas. Bangkoks, Leghorns and other soft straws ar being sold by distributors in larger volume than ever before ix this season of the vear. The return of the mode for long hair is bringing increased productios and_added prosperity to a score 0° industries, according to Norvin H Rieser, president of the Venida Ha Net Company. It is interesting, he said, that ch a slight change in wonmien's fashions as that from short to long hair should have such a de- cided economic effect upon life of whole communities which are des pendent for their prosperity upon comb, barrel, bandeau, ribbon and hairpin Industries. aborate decora- tion of the hair, now that it is long. will call for a new note in millinery. Larger blocks will be used than eves before: Texas Fights to Keep Cattle From Disease Special Dispatch to The Star. ’ FORT WORTH, March §.—The rigid juarantine instituted by Mexico against the entry of cattle from rer country except the I {States has brought a grcat relief to nen here. growers watched the foot and mouth dise creep up the coast from South ar cattle Tex: have anxiousiw Central America and_ feared that it would travel through Mexico and hava to be fought on the Texas border, The Mexlcan government is usin every effort to encourage the sale an: |shipment into Mexico of pure-brel ttle from this country and has re- nittad all taxes and duties on such stock. iApple Growers Reaping Big Returns in Markets Dispatch ta The Star. SEATTLE. March 5—The late seak son clean-up of commercial apples the great fruit districts of the Pacitid northwest is netting growers wi lield on to their products, especal the better and hardicr varieties, a ver considerable proft. Early sales yielde: little margin. Sales recently hav been stimulated by shipments tg South America made In refrigeratot ships. The demand In local marketr, however, is slack. —_— CURB STOPS TRADING IN FAY TAXICAB STOCK Firm Sponsoring Offering Alsa Acts—All Allotments Are Cancelled. EW YORK, March 8—The New York Curb Market announced today it had suspended trading in Fay Tax cabs, Inc., untfl further notice. McClure, Jones & Reed, who spons sored the offering, announced that they had decided not to accept stock and would make no delivery of the shares, All allotments, therefore, were cane celled. HEAVY APPLE SHIPMENTS. NEW YORK, March 8 (Special).—Th4 United States during the month of Dei cember, 1922, cxported 680,673 boxe 59,384 barrels of apple to pract every part of the globe. —_—— SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co —Noaz._ - 5 Bid. Ofter, 108! 2 1086 Aluminum Co. of Awer. Ts 1925. Aluminum Co. of Amer. 7 American Cotlon Oil 6 142 American Gugar 6x 1987, Amoricnn Tel. & Tef. fu 1024..0 American Tel. & Tei. 6a 1028 Anaconda Qopper 86 1920 ...... Anncouds Cepper Te 1929 & 2 s ] s3874s I satasoiea 2 38 ¥ ar ack & Boutbwestarn Bell 78 1925 Siandard Ofl of Calif. 7 ywater Ofl 1081 aion Tank COw: W icalled Apr