Evening Star Newspaper, March 10, 1923, Page 20

FINANCIA REACTION SPREADS IN STOCK MARKET Prices Go Slightly Lower in ¢ Today’s Short Session. Some Strong Spots. BY STUART P. WEST. Spocial Dispatch to The Star. NEW YORK, Marck 10.—In today's stock market the main tendency again ‘was downward. The actual net losses swere small, but taken along with those which had previously occurred | rnade up a fairly substantial reaction. Wall street today suddenly awoke to the fact that muny of tho recent leaders had slipped off 2, 3 and o points from their highs. In other words, whilo attentlon had been dis- tracted by tho upbidding of a dozen or so individuzl stocks, selling hLad been going on_ quietly 'through the rest of the market. This is what the trading this morning showed. Some Stocks Advanc There were few exceptions to the general drift of things. The Muarket Street Ruilway stocks, more particu- arly the second preferred, made prompt response to the information riven out Friday regarding the ne- Zotlation for the sale of the compan to the city of San Francisco. The possibility of securing a price suffi- clent to retire all class of preferred of stocks at first few sales was up ¢ Trucks got up to its highest Th any it is # '{h-ma(ml will e first hailf ar all that it the full twelve months of 19! Closing Is Unsettled. The market closed unsettled with heavy selling still in progress in the recent speculative vorites, The wunfilled nnage gures for the United States Stecl Corporation at the close «f Febru were about what the etrect had expected They showed an increase of $73.213 in tons on the month. The market today’s two-hour passion confirmed the evidence which has been accumulating all week that the speculative aign had been going ahead too fust and that even the best of news from the busin nters was beginning to fall fla Nothing so far this vear has equaled in optimsia the trade reviews fc the presont week end, yet the counted for nothing in the Wall strest cperations of the day. Huapp Motors Very Strong. Hupp Motors advanced sharply day to a new top in face of selling throughout the rest of the mc group. The ris: was attributed chiefly to w remarkably good showing in 1932, with the likelihood of anoth yrofitable vear uhead. Net ncome ap- plicable to dividends in 1922 approx- nated $X a share on the 519.000 chares of £10 par common stock aft charges and dividends on the pre- terred. Less than $50.000 annually is required for the preferred dividend This showing compared with slightly ore than $1.50 u share on the ocomi- on in 1921 and $4.42 per share in 20. Hupp sold about 36,000 cars in in he annual report of the Union Bag und Paper Company rovering opera tions in 1922, which will be made pub- short! 1 xpected to show earn- ings of $5 2 share on the outstanding stock after payment of all charges and taxes. The company is in a rtrong cash position and has no bank Joans. A declded improvement in the business of Bag and Paper has boen noted since the first of month as compared with the first two months of the year, and prices are pointing upward. Earnings of Bag und Paper in 1921 were slightly less than $3 a share. Sterling Exchange Higher. Sterling exchanged, resuming its xadvance, drew across the .$4.71 level ngaln, w meant that it was up = cents a pound from the low of the | ‘week and within a cent of the ex- treme high. German marks were unchanged, while French francs were slightiy firmer. The interesting con- tribution to the forelgn gews of the day was tho report that the French chamber had voted in favor of a new loan to cover this year's budget deficlt. Last year the been partially met by increased taxa- tion. This year much had been hoped for from German reparations, But now it s seen that collecting money from Germany on the indemnity ac- count cannot be counted upon with any confidence at all, whils t Trench public are unwilling to eu it to more taxes. (Copyright, 1923.) —_—— WALL STREET NOTES. Ford May Buy Dayton Car Works. $32,000 for Cotton Seat. Speecial Dispatch to The Star. NEW YORK, March 10. from Dayton, Ohlo, that Henry s on a business trip there today wero responsible for reviving the Tumor that he will bid for the Barney and Smith Car Works, which will be sold at auction Monday. At the closo of the fiscal year end- ing December 31 last, the Lima Loco- motive Works had $14.749,031 of un- Alled orders on its beoks. Al were from domestic roadx With these, and with large additional orders since re- cefved it is expected 1923 will be o of the best years in history. On the cotton e of $32,000 w made for {p. The last sale of for $30,000. The G Corthars ordered 1 tank ca: ~ago Steel Car Company. Pittsburgh Plate Giass and the Philadelphia company today declared their regular quarterly dividends. MacArthur Concrete Pile and Foun- dation Company declared its regular semi-anpual dividend. New York bank clearings, $733,000, 000. New York bank balances, 366, ©00,000. New York Federal Resery ‘Bank credits, $69,000,600. Boston bank clearings, $63.000,000, —_— TRADE CONDITIONS. Bradstreet’'s Reports Industrial Pace Quickening. NEW TORK, March 10—Brad- mtreet's Review today says: The trade and industrial pace is quickening and the price situation shows increased strength. The woek, despite severe weather along ports Ford the company's d the Atlantlo seaboard, has shown | mlightly more activity in buying, both from jobbers and retalle: marked Strength with numerous ad wvances have distinguished the tex- tile markets, pmtlmll{ all classes of fron and steel and building m: terials, notably lumber, and addl- tional ‘measures of industrial move- sment coming to hand point to Feb- ruary having witnessed a surge for- ward in many lines of industry, wequal to or in excess of January. seaqookly bank clearances, 37,996, 1553,000. ———— GOLD SENT TO INDIA. NEW YORK, March 10.—Gold with- drawals aggregating $1,911,000 for shipment to India were in the strong boxes of the steamship Majestic, sail- ing today for Europe. The gold is being forwarded to gomplete obligations due merchants ‘n India for merchandise balances. g‘ln'gulon a:; ‘;;hlpr;:emb;u og}o of om the ¥oko- hama Gaesia Rank. Lok this | deficit had | NEW YORK STOCK EXCHANGE Recelved by Private Wire Low. Close. Adv Rumley.... 18% | Alaska Juneau.. Ajax Rubber.... Allled Chemical. Allied Chem pt.. Am Agr Chem. . Am Beet Sugar. Am Bosch. .. Am Brake Shoe. Am Can Am Can pf.. Am Chicle Co. Am Cotton Oft Am Druggist. AmIce.... Am Internat'l. Am Linseed. Am Locomotive. Am Metals {Am Ship & Com. Am Smelting. .. Am Steel Fdy... Am Sugar. Am Sumatra Am Tel & Teleg Am Tohacco. Am Tobacco |Am W Wk 6% pf Am W Wk 7% pf Am Woolen. ... Am Writ Prpf.. | Am Zinc & Leaa | Anaconda. | Ann Arbor. { Ann Arbor pf. { Asso Dry Goods. Atchison pt. {Atlan Bir & Atl, { Atlan Cst Line, . {Atlantic Gult. .. { Atlantic Gulf of Austin Nichols. . Auto Sales | Baldwin Loco. Ralto & Ohto | Ralto & Ohio pf. Earnesdall (B). Barnet Leather. Hatopilas Mining { Beechnut Pack. | Parnesdall (A). | Beth Steel (B). . Beth St1 7% (n) Beth Steel 8% pf Booth Fisherles !Rklyn fson... | Rklyn Rap Tran Rklyn R Tr ctfs. { Burns Bros (A). Burns Bros (B). Butte Copper. | Butte&Suyperlo | Butterick. {Calif Petrol. . Calit Petrol pf. Callahan Zinc | Calumet & Canad'n Pa. Case Plow Wks. Case Threshing. Central Leather | Central Leath pf Cerro de Pasco. { Chandler Motor. {Chesap & Ohto.. Chi & East Ill... Chi & East 1l pf | Chi Great W pt. Chi Mil& StP.. | ChiMI1&StPRL. Chi & Northwn. Chi Pheu Tool.. |Chi R & Pacific Chi R 1&P 6% pt Chile Copper. ! Chino Copper. Cluett & Peby pf. Corca-Cola. . Col Fuel pt. | Colo & Southern 1 Columbia Gas. . | Columb'a Graph { Comp Tabulator Cons Clgar..... Consol Gas new. Cons Textile Cont Can | Corn Prod 5 ; Cont Insurance. | Continental Mot | Cosden & Co { Cosden pf. Crucible Steel ! Cuban-Am Su, {Cub Am Sug pt- | Cub Cane Sugar. | Cuba Cane S pf. ! | Cuban Dom'ican. s 101 Vi | { Cuban Dom pf... | D Lack & Wstn. | Detroit United. . { Dome Mines. ... Eastman Kodak i Elec Stor Bat... Elk Horn Coal.. 15 Endicott-John.. 76% a2 T | Erle...... Erie 1st pf ExchangeBuff.. FamousPlayers. | Fidelity FireIns {FiftnAvBusw 1. { Fisher B of O pf | Fisk Rubber. Fleishman. .. Freeport Texas. Gen Am Tk Car. Gen Asphalt | Gen Asphalt pt. Gen Cigar . Gen Eice ric {Gen Elec spl w i. Gen Motors. ... Gen Mot 6% deb. Gen Mot 77 deb. Goldwin Corp. .. | Goodricn. .. | Goody'r pr pt wi. Gray & Davis... | Gt Northern p! Great Nor Ore Guantanamo Su. | Gult St Steel. Harbishaw Cab. | Hendee Mg/ { Houston Oll. | Hudson Motors. { Hupp Motors... | Hydraulic Steel. | Dlinots Central. Inspiration. ... | 166% 164 { | | | | | i | | | ! Interborough pf | In Ag Chem pt. {Int Cement. i InCombustion E Int M Marine pf. | Int Nickel. { 1ntl Paper { Intertype Corp { Invincible O11 Iron Products. ! Jewel Tea. | Jones Tea 5 Kansas C Sou pf Kansas & Gulf. . | Kansas City Sou | Kayser (Jultus) Kelly-Spr Tire. Kennecott. . Keystono Tire. . Lee T & Rubber. i Lehigh Valley.. Lima Locomo. Loews Inc. | Lott Inc. | Loose-Wiles: { Lorillard (P). .. Mack Trucks. ... Mackay Cos pf.. Magma Copper. Malllson & Co. Manati Sugar. . Manhattan Elev. Manhattan Ects Market StRy... Market St prior. Market St pf.... Market St Ry 2d Marland Ofl.... Mathison Alkill. Maxwell (A). Maxwell (B). May Dept Stores McIntyre Porcu. Met Edison pt. Mex Beaboard, Mex Sbd ctfs. { Miami Copper-. { Middle St Oil. Midvale Steel. Min St P&S S M. Mo, K & T (old). Mo, K& Twl... Mo, K & T pt wi. Mo Pacific. Mo Pacific pf. Montgom'y W'rd Moon Motors. Mother Lode.... Mullins Body... 281 27% 27% Nash Motors.... 104 104 104 104 Matl Biscuit wi. 42% d43% 424 43 10 172 8% 68 35% 34% 66% 54% 43 20% 76 60 41% 42% 62 624 20 8% 18% 98% 17 15% 281 1138 81 7215 10% 155 43 174 46% 24% 23% 68 35% 343 | 6644 | 54% | a1 20 5% 58 41 42% 62 62 19% | 18% 983 | 35% i 3415 66 Ba% 41 19% 5% 58 40% 41% 62 81l 19% 73% 18% 985 16% 15% 28 11% 30% 1% 101 15% 2% 1% 463 24 23% 12% 12 124 16% | 283 | 1% | BT 1% 10% 15% 425 1% 46% 24 28% | sinclair pt. | Southern Rwy { spicer Mg Co.. |Stoilof NJwi. {Tide Water O11 1 Utd Ry Inv pf | US Hoffman Mct { Libby, 16% Direct to The Star Ofice Natl Blscuit pt. Natl Acme. Natl Conduit. .. Natl Enameling Natl Lead...... Nevada Copper. N Or Tex & Mex. N Y Air Brake. . N Y Air Brk (A) N Y Central.... NYNH & Harttd. Norfolk & West. North American North Amer w .. North Pacific... Nov Scotla Steel Ohio Bdy & Blw. Oklahoma Prod. Orpheum Clrcult Otis Elevator. Otls Rteel. . Owens Bottle. Pacific Gas & El PacificOll...... Packard Motor. Pan-Am Pete... Pan-Am Pet (B) Parrish & Bing. Penn Seabd Stl. 22% kil 28 % 2% 19% 12% 48% 81% 4% 1 4% 201 38% 60 31 4% 77 14 4% 46% 0% 39 47% 60% 12% 31% 4% 7 People’s Gas. Pere Marquette. Philadelphia Co. FPhillips Pete... Pierce-Arrow.. Plerce-Arrow pf Plerce Ofl. ..... Piggly-Wiggly. Pitts Coal. .. Pitts & W Va. Pond Creck Coal Porto Rico Tob. Postum Cereal Fressed St Car. Froducers& Ref Pub Serv of NJ. Puilman Co... Punta Alegre. Pure Ofl Railway Stl Spr. Ray Con Copper heading..... Reading 1t pt.. Reis Robert. ... Remington Repiogle Steel. . Rep Ir & Steel.. Rep Ir & Stl pt.. Reynolds Spring Reynolds Spr rts. Rey Tobac (B) Royal Duteh. St Joseph Lead St L & San Sran. St L Southwn Savage Arms. aboard Air L. caboard A L pt Sears Roebuck. . Seneca Copper. Shattuck-Ariz Shell Tr & Tran. Shell Union Simms Petrol. aons. Sinclair Ofl 37 9% 93 9% 93 70 70 51% 100 180% b59% 294 118% 16% 8 b1% 17 45 28 60 95% 22 9% 658 52% 21% 26 33% 26% 6% 12 884 11% 9% 407 15% 14 27 33 96 12% 31 92% 130 69 29 16% 8 17 45 28 60 22 9% 58 52% 21% 26 381 26% 6 12 88% 11 9% 40% 16% 14 27 33 96 12% 31 928 2% 69 254 61% 42n 1n7 102% 63% e 117% 91% 1.0% 113 12% 12% 5014 24% 59% 21% 15% 135 42% 563 82% 54 13% 65% 11 74 3% 81 178 191 Bty 80% 315 41 194 68% 10034 106% 60% 102% 41 45% 107% 119% 3 20 41% 22 66% 194 1y Ol ¥ Ol (new). ~outh Paciic. Southern Ry pf. 69% 61ty 2% 1u7 102 631y 117% 9lly St 011 of Calif. StOilof N J pt.. Steel & Tube pf. Sterling Prod. Stew’t-Warner. Stromberg Carb Studebaker. .. Studebaker pf. . Submarine Boat Tenn Copper... Texas Company. Texas & Pacific. Tex Gf Sulphur. Tex & P G&OIL Third Avenue. 113 13 12% 50% 25 59% 21% 16% 135 42% 56% 83% 5 13% 65% 141 74 Timken Bearing Tobacco Frod. .. Tobacco Prod A. Tol St L& W pf. Trans Contl Oil. Union Bag & P.. Union Pacific. Union Pacific pt Union Tank Car Un Alloy Steel United Drug. ... United Fruit.... United Ry Inv 87 81 78 19% 55% 80% 81% 4% 19% 68% 100t 106% 60% 102% 41 46% 107% 119% 78 20 Unit Retail Strs U S Cast Ir Pipe. U S Food Prod. . U S Indus Alco U S Realty. U S Realty pf... U S Rubber..... U S Rublstpf.. U S Smelt & Ref USSmelt& RpE. U 8 Steel.... U S Steel pf. Utah Copper... Utah Securities. vanadium Corp. Va-Cr Chemical Va-Car Chem pf Vivadou. | Wabash Wabash pf (A). Waldori System. Web & Heilbrn. Wells-Far Exp. Western Md. ... Western Pacific. Western Pac pt. Westhse E1 & M Wheeling & L E White Motor. White Oil Wickwire. Wilson Co...... Willys-Overld. . 6% Will’s-Overld pf 5l HOURLY SALES OF STOCKS. 11 am.. 270600 12m. ++472 800 — SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) 41% 143 49% 1235 18Y% 60% 63% 9% 65 4 11% 41 41 1084 108 oe's 0 Co. of Amer. Ts 1925 Co. of Amer. Tn 19: Coton Oil 68 1924 Al T Ga 193 American Tel. & Tel. 6y 1924. Americar Tel. & Tel. 0s 1825, 100; { Anaconda Copper 6s 1921 Dpp n Oil 735s 1925 35 Canadian Northern Canadan Pacific 6s 1 Humble Oil 55 Kansas City Term, 6s Kennecott Copper Ts 1080. Neill' & Libby 7a 1931 M., 8t P. & 8. 8. M. 8 Marrla & Co. 7% _1080. Pennu. R. K. 7a 1930. St. Paul Union Depot 5! Sears, Roebuck & Co, 78 Bouthwestern Bell 7s 192! Staudard Oil of Callf. 7s Tidewater Oil 6l4s 1931 Union Tank Car 7s 1980, Western Unlon 6%s 1836. 1 Westinghouse E. & M. 7a 1931 ———— TREASURY CERTIFICATES. (Quotations furnisbed by Redmond & Oa.) — 2i4 " ofter. %110 782 99 15-16 1 101316 1017-16 101 101518 T 100P1e 100 . 99 n# 99! ‘tn 18 90 %% Rate—Maturity. 8%s Juve 15, 1923.. September 13, 1 December 18,"1923 June 13, 1024.. 515 Septembor 15, 4%s March 15, 1825, 4338 June 15, '1925. 483 December 15, 1925. March 15, 1928. 41{s September 15, 1028... 4145 December 15, 1027... PARIS MARKET SPOTTY. 48 1001 98 99 PARIS,. March 10.—Prices moved | banks, 4.68%. on the bourse today.|Cables, irregularly Three per cent rentes, 58 francs 60| cables centimes, Exchange on London, 77 francs 95 centimes. centimes. The dollar was quoted at 1¢ francs 68 cantimed, 2 i 18 : city of San Franclsco, 81% | afresh, are expected to result in the 4% | realization of a sum suficlent to pay 66% | curities has been i i ]in the leading markets of the United | i UTILITY 1SSUES FEATURE BONDS Market Street Railways Lead Today’s Trading—Lib- erties Lower. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, March 10.—Utllity is- sues featured the bond market today. The most actlve speculation was 160% | found in Market Street Rallways bs and 6s, which advanced sharply on | very heavy dealings. Negotlations for the sale of the property to the now taken up off the securities ahead of the com- mon stock at par. Outsido this speclal feature there was not much change. Favorable earnings statements seemed ineffect- ive td advance quotations for specula- tive rallroad bonds, as they have been | ineffective in stocks. French bonds held around Friday's prices, but did not {improve their gains. The steadiness in French sc- the occasion of much favorable comment in view of the news from abroad. Libertys were slightly lower and 123% | comparatively inactive. NEW ZEALAND BUTTER LOWERS PRICES HERE Market Oversupplied When Cargo Reaches New York and Drop Results. By the Associated Press. . CHICAGO, March 10.—Butter prices States, especlally New York, were started on a downward trend that obtained throughout the week by the arrival Monday at New York of 1,500,000 pounds of New Zealand butter. ‘With the New York market already weak, the arrival of the cargo of butter, predicted for many months, made that condition more apparent. Declines naturally followed in other principal markets. When the heralded cargo arrived domestic markets were oversupplied 82% | and, to add to the general weakness, the domes:ic production Increased. A 20 | combination of ‘those circumstances, according to the report, culminated with an unusual happening in the the different scores being confined to an_exceedingly narrow ilmit. 120% lstock were: 11% | March. 992932 | changed and firmer. The closing quotations yesterday at the four leading markets on 92.score Chicago, 47%;: New York, 48; Boston, 50; Philadelphia, 48%. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY KANSAS CITY, March 10.—It was officially announced today that work of laying the 900-mile pipe line from the Teapot Dome field, in Wyoming, to Kansas City would start as soon as 93% | the frost was out of the ground. The contract, which involves $30.000.000, has been lot to Boothe & Flynn of Pittsburgh, and part of the materials have already been delivered along the right of w ATLANTA, March 10.—Soft drink manufacturers gathered here today !predict the largest business in the history of the industry this year, and practically all of them are overhaul- ing their plants and enlarging them. DETROIT, March 10.—Steel sales- men who were scurrying around the local automobile factories a year ago today are having their inning, with manufacturers beseeching them for deliveries, They are taking care of those who took care of them in 1922, so far as capacity of steel plants will permit. HOUSTON, Tex.,, March 10.—Clay- 19ijton & Co., large exporters of cotton. {have purchased a site and will erect a million-dollar compress on the Houston ®hip channel, it was announced today. Other cotton’ concerns are planning ex- tension of their export handling facili- ties, and a considerable portion of the $4,000,000 appropriated by the Houston navigation board will be spent for sheds to store cotton for export. SEATTLE, March 10.—Production of the western Washington and Oregon lumber mills has increased almost 18,- 000,000 feet 8 week since the first of In the first eight weeks of the year the barometer mills produced 770,- 6% 976,843 board feet, or 207,251,953 feet 51% | less than new business booked for the | period, which amounted to 978,228,296 feet. READING, Pa, March 10.—The hostery industry here s operating at capacity today with the exception of one or two mills. PHILADELPHIA, March 10.—Sales of radio equipment are extremely heavy and all kinds of electrical equipment 1027 | are In excellent demand. FAILURE REPORTS DIFFER. NEW YORK, March 10.—Brad- street’s this week reports 406 com- mercial failures, against 402 last week, 519 in the same week last year, 823 {n 1921 and 108 In 1920. R, G. Dun & Co., however, report a de- crease in the number of failure: placing the total this week at 351, against 389 for last week and 521 in the like week last year. —_— CLEARING HOUSE REPORT. NEW YORK, March 10.—The ac- tual condition of cl rln{ house banks and trust companies for the week shows an excess in reserve of $17,- 246,030. This is an increase of §15,- —_——— DRY GOODS MARKET. NEW YORK, March 10—While there ‘was little busin done In dry goods today there wa: firmness of tone that was noticeable. As on Friday, most of the business done was lots. Prices generally were un- The raw silk market here today followed the trend in Japan, where prices were higher and considerable activity was shown. ——— Foreign Exchange. By the Amsociated Press. NEW YORK, March 10.—Forelgn ex- changes steady. Quotations (in United States dollars): Great Britaln, demand, 4.70%; cables, 4.71; sixty-day blils on France, demand, 0.604; .080415. Italy, demand, .047 .04793. Belgium, demand, 052 05213, Germany, demand, ables, .0000483%. Holland, de- cables, .3962. Norway, de- Sweden, demand, .2660 demand, .1908; Switzerlan S Ly 5: Poland, demand, cables, butter market. price ranges between ! i 3 > D. UE SA'TURDKYE MARCH 10, 1923 FINANCIAD [vvw vour BONDS o ] Received by Private Wire Direct te The Star Office, (Bales are 1n $1,00.) UNITED STATES BO Bales. High. Lib3ys Lib 1st 43¢, Lib 24 44 Lib 34 43 Lib 4th 4% Victory 4%s. US4%s1962.. FOREIGN. Low. 17 10128 101 16 9 9824 9812 140 9808 9802 121 9862 9852 80 9824 9814 12 100 12 100 12 199 9954 9948 NDS. Closs. 10120 8812 9802 98 58 98 14 100 12 Sales. High. Low, 102% 9855 4% 28 92% 6% 84y 96% 103% 100% 102 100% 99% 104% 102 104 52% 903 99% Belgium 7% Belgium 6 Canada bs 1926. Canada 538 1929, Canada 5s 1931. Canada 55 1952. {Chile 831946 Chile 851926 1941 Chinese Gov Ry bi Copenhagen 6% Cubab%swi. Czechoslovakia 8 {Denmark 8s. Denmark 6 Dutch East Dutch East I 65 '62 FramericunID7%1 French Govt §s. { French Govt 7%s i Halti s ctfs { Holland-Am Japanese 15t 4%s. panese 4s. . Jergen U M 65°47 Lyons 6s. Marsellles €s. Mexico 4s. Montevideo 7s Netherlands 6s. Norway 6s ctfs. Paris-Ly's-Med 6 Prague 7% Queensland 7s. Queensland 6s.... Rlo de Jan 8s 1946. Rio de Jan 8s 1947, Rio Gr Do Sul 8s. Seine, Dept of, 7s. SerbsCrotsSlov §s. Solssons 6s. Sweden 6s. . E Ud King'm 6%s 29 | Ud King'm 534837 15 UnSteam Copen 6s. 19 Uruguay 8s. 1 . Zurich s, 93% 87 91 93% 821y 82 76y T6% 361 90 98y 98’ T1% T4 108% 1011 93% 92% 97 844 65 6% 105 115% 104 90 105 113% {Ajax Rubberss... 1 98 |Am AgrChem 7%s 8 104 |AmSmelt&R1st5s. 3 89% !Am Sugar Ref 6s.. 24 1027 AmT& Tcvés.... 3 116% ,AmT&Tecltr 13 973 AmT& Teitrds.| 15 917 Anaconda cv db 7s.. 66 103% {Anaconda 1st 6s.... 54 97% Armour & Co 4%1. 86 Bell Tele Pabsrcts 985 Bethleh'm Stl rf 63 Beth'm Stl pm Ss. Beth'm Stls £ 6s. . | Brier HSt 1st %8 Pklvn Edfson 7s D. | Bush T Bldg 6 '60. Central Leather 69 Cerro de Pasco 85. | Chile Conper 6s CInG & E 534" { Comp-Tab-Rec 6s. ! Con Coal Ma 1st 55 {Cub CaneScy d 8s. | Det Edison ref 6s. . Du Pontde N 73%s. { Duquesne Lt 715w, Duquesne Light 63 E Cuba Sug 7%s. . Empire FAG 73%8. Fish Rubber 8s... Gen Elec debbs. .. {Gen Refract’es 6s. Goodr'b (BF) 638, Goodyear Tr 8s '31. Goodyear Tr 85 '41. Humble O&R 5% Indiana Steel 58 Int Mer Marine 68 Int Paper 15t 55 A. Int Paper 1at 6s B. Julius Kayser 7s. . Kelly-Sp'gfield 8s. Lackaw'a S 68°50. . Liggett & Myers 7s Lorillard (P) 6s.. Manati Sug sf Tis Mexlican Petrol 8s. Midvale Steel Gs. .. Montana Power Gs Morris&Colst4%s Nat Tube 1st 5s ew Eng Tel 5 NY Edison 1st 6%8 NY Tel 65'41..... N Y Tel 4%s. .. N Am Edison 6s N States Pow 58 Northwst B Tel 7. Otis Steel 8s. . Pacific Gas & PacT & T 08 52, Packard Motor 8s. Phila Coref 6s A.. Producers & Rf §s. Punta Alegre 7s. Sinclair Oil 78 Sin Crude Oil 5its. Sin Pipe Line s South Beli Tel b So Por Rico Sug 73 {StOll of Calif 7s. Steel & Tube Ts... Toledo Ed'n 1st 78. [ Unit Drug cv 8 {USRub 1st rf 5s. USSteelsfs.... Utah Pow & Lt 55. Va-Car Chem 7s... Va-Car Ch 7%s 5w Wickwire Spen 7s. Wilson & Co 1st 68 Wilson&C cv T%s. Wilson & Co cv 6s. ! Winch'tr Ams 7% s o 1 ~EeSSarpou~REenantRee - (e 85% 105% 1087 91 115 96% 100 108 88 95 80 100 98 110% 105 a2 931, 89 107% 101 91y 90% 1075 a9, 10615 5 1131 1004 081y 86!, 92 101 107 1024 106% 11135 87% 1021 20 9% a6 It R R R T T YR PR R OB At e e sBaklasnamanante 1033, MONEY FOR CRED Select Pictures Creditors Full Amount. full to all creditors of the within thirty days, it was an nick Corporation, former company. which ¢ Continua; dicated. Federal Judge Hand granted a stay | on all judgments and of all against the Select Corporatio: days. course of a hearing on a tures Corporation may be His action was taken 102% 98Y% 4% 9% 92% 6% 838 96 103% 100" 101% 100% 987 104 102 103% 521 904 99% 8853 % 109% 974 9414 RAILROADS. ‘Bales. High. 3 €3% Close. 63 86% 85'% 80% 83% 94% 1% 100 Ann Arbor 4s, Atchison gen 4 3 86% AtlanticCL1st4s. 4 86% AtlanticCLcl 4s.. 10 80% Atlantic CL 4%s.. 3% B&Opfin3 94% B& 7% B& 100 B& 80% B EZH Ocvids..... & O ref 5s B&O PLE&WV 4s. B&OSW div3%s. Buff R&Pitts 4% Canadian North Canad North 63, Canad Pac deb 4s.. Ches & Ohlo cv b Ches & Ocv 4%s Ches & O gn 4%s. . Chi B&Q gn 45 '58. | Ch1 B&Q Tat rt 6 Chi & ETI gn 68 Chi Great West 4s. Chi MES P rf 4160, Chi M&St P cv 5s.. Chi M&St P 48 "25.. Chi M&S P cv 43s. Chi& N'W7s . Chi Rys5s........ ChiR1& Pacrt 4s Chi Un Sta 6%s. .. Chi & W Ind cn 4s. CCC&StLrtésA.. Cleve Term 51 Colo & Sou 41 Del & Hd 1st rf 4s. Del & Hudson §%s Den&Rlo G con 4s. D&R G 1st rf 5s.. Erfe 15t con 4s. Erle gen 4s. Erle conv4s A. Gr Trunk sf deb 63 Grand Trunk 7s.... Gr North gen 7s. .. Gr North gen 53, Havana ERL&P 58 Hud & Man ref 6. Hud & Man aj 53 Il Central 5%s. Int Rap Tran 5a... Tnt R Transit 7s. .. Int & G Noraj 6s.. 9% | Towa Cent 1st 5s. . MISCELLANEOUS. 98 104 89 102% 118% 97 103% —_— ITORS. May Get| NEW YORK, March 10.—Payment in | Select Pic- expected nounced by a reorganization committee of the Sels- ontrols the nce of the business of that company was also in- proceedings n for thirty in the bankruptcy petition filed against the company. — NEW YORK SUGAR PRICES. NEW YORK, Marec! tures closed ' stead. sales, 11,050 tons. May 6.80; September, 5.9 Deces 10.—Sugar fu- approximate 5.69; July, mber, 5.62. BOSTON STOCK MARKET. BOSTON, March 10.—Following is & 1ist of today's highest, lowest and closing prices for the most actiye | stocks dealt in here: Alloues ... ‘Arcadian’"Cons Botton & Aibaay on Boston & Maine Calumet & Arison: Calumet & Hecla son BREI Min per_Range Fast Butte . Gardner Motor Franklin . Int Port Cement . Island Creek U 8 Smeit pra’] Utah Metal Ventura 04 |StL& SF adj €s Kan City Ft S 4s.. Kansas City S 3s.. Kan City Sou 5s. .. Kan City Term 4s. Lake Shore 45 '31.. Lehigh Valley 6s. . Long Island rf 4s.. Louls & Nash 7s. .. Leuis & Nash 5358. Manhat Ry cn 4s Market St cn 6s. Mil E]l Ry & L 63 M & St L 1at rf 4s M StP & SSM 6%3. MK&T1st 4s MK & Tprin 5s MK&ThsC MK & T adj 5s Mo Pacific 6 Mo Pacific 5 5 Mo Pacific gn 4s. .. Montraal Tm 1st 53 sau E Ry 4s Or Term 4s. .. OTex & M in &s. ¥ Centdeb 6s. .. Y Cent deb 4s Y Centribs. ¥ State Ry 4%s. NY W & Bos41;s. Norfo'k & W cn 4s North'n Pacri 6s. Northern Pac 5s Ore & Calif 1st 5s. Ore Short L ref 4s. Ore-Wash 1st rf 4s Pennsyl gen bs. Pennsyl gen 43 Pennsyl 63:s Pennsyl gold 7s.. Pere Marq 1st i3 Reading gen 4s. RIATk & L 41 St LIM&S R&G S'L&SFplisA. StL&SFprinbs. StL&SFinc 6s... StL&SFp16sC. StL S W 1st 4s Seab'd A Liref 4s.. Seab'd A L adj 5s.. Seab'd A L con 6s.. Sou Pacific cv 4s... Sou Pacific ref 4s. . Southern Ry 1st 68 Southern Ry &n 4s. Southern Ry 6%s.. Third Ave adj 5s Union Pac 1st 45 Union Pac cv 4s. Tnion Pac cv 6 Virginia Ry 1s VaRy & P Ist Western Md 4s.... Western Pacific bs. West Shore 1st 4s. Wheel & L E cn 4s. 20 TOTAL SALES (Par Value! 1lam.. 2781000 12 noon 5681000 RAILROAD MERGER PASSED Texas House Would Have Five Lines Join Frisco System. "STIN, Tex., March 10.—T} and San Franeiseo consc | was passed finally by house late yesterday to 3. As passed the bill amendment requiring tne ¢ lines to maintain headquarters of the International Great Northern railroad at Palestine. The bill provides for the consolida- tion of five Texas railroads with the Friseo system. The lines included in the consollda- tion plan_are International Great Northern, Fort Worth and Rio Grande, Paris and Great Northern, Brown- wood, North and South, and Quan; Acms and Pacific railroads. TOBACCO MERGER LIKELY. Tobacco After Porto Rican-American Company. , March 10.—Negotiations ing to the acquisition of the Porto Rican-American Tobacco Company by Tobacco Products Corporation are der way, it was learned today. Deta of the proposed merger will be disclosed after the meeting of the Porto Rican- American company’s directors _next Monday to consider the proposition sub- mitted by Tobacco Products. —_— DIVIDENDS. Stock of t Gs. Gs.. Products Apr. 2 & Mo 81 > Loco. Co., G, 1 g::-m-n Loco. Co., Pf, m‘a’{“!(‘!a”il’“‘-‘“ Corp. 1st ot ...Mch, 22 Apr. 1 1 2 . 15 . 81 a 1 Apr. 22 Apr. pt, q, $1.50.... Wabasso Cotton Go., $1. .. eeee Washington Y lprocess butter, CHICAGO LIVE STOCK MARKET. CHICAGO, March 10 (United States Department of Agriculture).—Hoge— 000 head; market, . | ste; o 11 2 pul 4| @t the end of the preceding month. BUILDING VALUES UP. March 10.—Building Live I dled, per dozen, 31a 30; southern, 30, turkeys, per b, ens, per 1h., 3 chickens, per lb., 3 27a28; roosters, per D(l'mlb.. 35a40; Live stock—Calv 8a3. Lambs, 9.00. " California’ os 15.0026.00; " Florida, per box, 5.00a6.00. 4.50. Tangerines, 4. |& 150az00; . 5041.00. Carolfna, 1.0 Lett e per crat 100" 1hs.; nearh, 1.6022.50; southern, et. Eggplants, pi Beans, .00 " per Florida, elery, 2.5043.00. ver basket. GRAIN AND BALTIMORE cial). —Potatoes, wi al.50: 159 pounds Dpeas, bush {1.5043.00; squash, i 4 2.00a4.00; 50260 Apples, bushel, 1.50a a4.50; oranges, s, quart, { half strap. 2.0 No. { auotations 5 N red w 1.35% ro timothy and moderate den; to 21.00 to 2 | plus “of real Straw—No. d, 90 pe 16.00; oats, nominal, TODAY'S CHI! HICAGO, Marc fon house buy j during put empha value of whole and scares in on price bulg ), t00, on ne highe Jui with May 1Y% to 1 t further action influenced mors 1 3 . starting u May 447 Provisions lacke higher quotations BALTIMORE %) & {breasts, poc hens, 0 | Dress |10: old toms, {breasts, stags 28; small old roosters, guinca S storepacke d. | Receipt 15 high pound buik i ae : packing medium to 90a8.50; v ot ‘w head | pest long yearlin 993 pound: | nigher; destrable more; bulls | weak., Week's bu { Feef ‘steers and ¥ | and heifers, cuf cows and cutters, 3 recelnts, 4, | market steady. Col ! ctically a y. Week's to | buls desirable wo 115 15; i fresh shorn lambs, | heavies, oo shippe wethers bulk, others, largely 6. 90029.50; 11.00 14.50416.00; week's mostly 50a7.50; Grain, Produce and WHOLESALE MARKET. Eggs—Strictly fresh, selected can- Live poultry—Roosters, per 1b., 17: 30a4 160: fowls, each, 26a27. Dressed pouliry—Fresh-killed spring keats, medium, per Ib., 10al2; thin, per D fruits—Apples, per bbl. Delicious, No. 1, per Vegetables—Potatoes, per bbl. per sack, Sweet potatoes, Romalne lettuce, per crate, Teeburs lcttuce, per crat Cabbage, northern, 3.00a4.00 per Tomatoes, per Lox, 4.0025.00 per basket. 2.50a3.50. Spinach, 5 crate, 0. Brussels sprouts, 25a35 Florida lima bean: Md., March 10 (Spe-| disk 3.0024.00 barrel, 8.00212.00; grapcfrui box, Selling Prices at 12130, Wheat—No. 1 red winter, spot, no red 2 red winter, garlicky, 21 ht desirable hay. . tangl 1 at, nd with Liverpool quota ad an upward tendency today early the commodity possih s was less in evidence than has been the rule of late. opening, which ranged from ’3 to ¢ ‘orn developed independent strength, or less d by a leading trader. 74%, the market cont s sympathized with other to 45, &ll round. DAIRY PRODUCTS. Md., Live poultry—Turke: old toms, 25; poor an 20; young chickens, and Leghorns, 24228; o ow i, ed poultry—Turkeys, pound, voung chickens, 13a44. good pig! 00; estimated hoidover, butcher she about steady; veal calves, | offic mostly 25 lower; better grad {ers and feeders, steady; lower grad stockers and feeders, . generally 12.50a13.00 | some’ weighty natives down generally 12.25213.2 Mch, 31| handyweight fat ewes, 8.00a8.50; bulk aged wethers, somo two-year-olds, up to foeding and shearing NDUSTRIAL BOOM INCREASING DALY Present Prosperity Equaled Only by Production Records Made in 1920. Stock average receipts, ; spring_chick- keats, young, each, 5a40; h Ib., 19a20; turkeys. young, each, i | es, choice, per 1b.. per Ib,, 13. BY J. C. ROYLE. live hoge, | Speciul Dispatch to The St. NEW YORK, March 10.—Produc is Writing profits on the right eid. of the ledger for munufacturers, df tributors and retallers today. Prices of finished products to retaller anc uit!mate consumer have not advanced in equal ratio to the cost of raw material the net income of makers and m. chandisers are increasing to a poin of prosperity equaled only fn t- boom times of 1920. Tho answer capacity production. Practically every big baste in the United S § ing as near to labor, skilled T delays to shipments transportation faclities permit. Production costs are times greater when pla facturing at 25 than when they a per cent. Therefore creased costs of materia finished goods yield no | present prices than the efght months Textile Demand Active. Nowhers is this tendenc in th 175 bbL, 6.00a ranges, per crate, 4.0025.50, Grapefruit, .0025.50. i Lemons, , 8.60a | . No.; 2.2522.50; No. | North 2.2522.75. 1.508 | 1.50a 450 nearby, e, southern, cabbage. per bbl 2.50a3.650 per ba er crate, 2.50ab Florida, 2.50a5.00. basket. Peas, Peppers, per Kale, per per barrel, lorida, 2.502. Squash 2.50a4.50 wi th: PROVISIONS. hite, 1.2 100 pounds, 75 | > 5 ; carro flower, crate, 2 . 2.00a2.75; cucu ggplants, crate, sk, bushel, 2.00a2.25; lettuce, 5, 160 pounds, hundred, .00 bushel, 1.75a2.00; | .60; peppers. crate, i barrel, 3.00a3.50; tomatoes, | basket, i barrel, 2.50a5.00; 100 pounds, cranberries, box, 3.00 75a4.50; straw- tangerines, one- | oolen of le wool i Yet we tnto next fall, a their season than n 19 o agtonishing strides. ments in the spapers the country show th for spring is on level ag for the trough goods p; higher Yet profit for buyirg power a Jumped ahea Cotton g but not o a po cent cotton would Nine - dollar raw silk bro silk, but no tal stk turnips, % tabor reas have es and ave not de d demand “red winter, £pot, inter, epot, no quo- winter, gar! acturer. nower | { goods are = fast that t Steel Wage Advance Imminent. Steel prices advan this week and furt i ble. er admits that t advance in wages t is comin uncenie of Judge Gary, board of the Ur poration, f 1343 new, 4.60 per b iy per bushet 0. 4, 1o quota. quotati tons clover, mixed, in at a range of 17.00 ed at er ton, With no sur- of the Steadied dow 00a | fluctuations of No. 1{and_ rubber have tendenc thou here. S the top advances harder to Copper is poun is above tha tin have » and their st been weakene e other pain for April delive ing ‘factoreis at the tion. Record Shoe Production. The Endicott John<on shoe f: are turning out ) pairs with orde ahead of put. The fe re cr ed 00z r CAGO PRICES. ch 10.—With com- ing rather general ns show- wheat market leve the dealings. Bulls . on the ascent in list as @ i of crop T future. Seliing The T.20 to 1.20%% and was followed ns and then a by bullish eam of or Iocomotives continues the raliroads into equipment manufa are being re mand to 33 higher, May ed to ce- 3 high- nd later ‘scoring ement pla d_support, despite n closer to on hogs. (Copyright, 1823.) MAYVHEAT FEATURE OF WEEK N CRAIN P Prices of Crops to Be Harvested This Summer and Fall Ease Down Slightly. March 10 S; old and Leghorns, 25 16; pigeons, pair, each, 40a60. | : poor and crooked 30a32 28; old r geese, medium, :, poun. ¢ creas rolls, airy pri By tne Associated P CHICAGO, March reserves of wheat m illion bush X: els smaller than until of late had been 5 _to sirablo aiready on Later deliveries, however, {meaning wheat to be harvested thi« ¢ and fall, have ed dowr . influenced by rovem, i rop outlook. ared w ago wheat rged from &, decl corn was unchs off 3a sows, around 7 1 imp a0 1¢ advance beef he: st wer, oat weight, at i s 10.00, Stock, beef heifer amount of wheat held on f estimate by zn expert h | whose figures are widely aceepte up | among traders. In this case the un | estimate, which virtualix e stock- | iden government repory issued th ays later, pointed t an Inereased domestic consumption o* {33,000,000 bushels as compared last vea Meanwh help for soil condit part of v 555: mistly direct; | though fal mpared with week ! portions of 1l_classes around | Oklzhoma. D fat lambs, 15.25; : Only & transient downturn n whea', oled lambs, 14504 |values resulted from cfiorts to con strue the government report ish in regard to wh The ffor were based on comparison with las year's total of furm reserves o wheat, an _amount 19,000,000 bushels less than the present wggregate. Corn and oats were weakened by the fact that stocks of .corn in Chi- cago are double the general average, Heavy exports of lard gave a d lambs, { cgea 1ift to provisions, lard touching a new high-price record for the sew son. 1k~ prie earlings, 6.35a7. follo: canners calves, wheat give muc be o 11 mostly 1 9.50a10 in_tleec up ‘to 8.75; heavies, top, 16.30. UNFILLED STEEL ORDERS TOTAL 7,283,989 TONS By the Ascociated Press. NEW YORK, Marcl Apr. 16| ders of the United St ion on February total c _today, an increase of 37 NEW YORK, permit values in United States in February wero 13.7 per cent higher than in January and 62.9 per cent greater than in Febru- ary, 1922, according to Bradstreet's. The total value of permits filed in |steam locomotives with the 149 citles last 43.20% NEW YORK EGG PRICES. NEW YORK, March 10— gettled; receipts, 35,3 h 10—Tnfilled or- | Eathered ates Steel Cor- 28, 1923, made 58,939 tons, o doms: | quotea s over those | 140t | tras, uncandled nearby and nearby hennery, whites, first to ex 7la4]; state and nearby her {nery, browns, extras, 36ai0; Pacifi 1 coast, whit 39a40; do., fire { to extra firsts, 36 BALDWIN GETS ORDER. NEW YORK, March 10.—The Chil- oan State Railivays has placed an or-' der for twenty-five mikado-typo the Baldwin Construction i tq 149 cities of the month was §316- | locomotive works. o started et onae