Evening Star Newspaper, March 21, 1923, Page 24

‘'FINANCIAL TEEL TAKES LEAD IN STOCK MARKET Man)-/ Other Issues Also See i Higher Levels in Today’s Busy Session. BY STUART P. WEST. Special Dispateh to The Star. NEW YORK, March 21.—Steel shares held the center of the stage during the greater part of the time today. Bringing forward United States Steel common was a very popular move because one of the chief criti- cisms leveled against the market as a whole had been the backwardness of this stock. The street was great-o{ ly impressed with the showing made in the balance sheet accompanying the 1922 report. With steel com- mon crossing 109—a new high for the year—octher steel stocks were taken up. In Republic Iron and Steel the short interest up to this morning was still considerable, but it was pretty well driven in today. Bethiehem Steel B and Crucible Steel went along with Republic, and Gulf States Steel had another ‘violent jump, the fact that the company is doing the same amount of business now as it was When the stock was paying 10 per cent making a powerful appeal to speculation imagination. A newly | formed pool was getting busy in Otis Steel. Railway Shares Improve. Raflway shares continued to do | better, but their progress, as a rule, was slow. Canadian Pacific touched 150 for the first time and (nion Pa cific sold above 143, as against 142 the previous close. New York Cen- tral drew close to par. It was another fleld day for pools in specialties. American Steel Foun- dries was taken up on the ground that it had not had its proper share in the advance in the equipment group. Electric Storage Battery ! Tushed up another three points. and Beechnut Packing was bid up over ! two points. Profit-taking was going on very notic bly in mos of the oils and in the sugars, however. Review and Outlook. NEW YORK, March 21.—Tods stock market consisted of another @eries of sharn uprushes in selected | stocks. followed in many instances! by partial reaction. It stiil a | market in which, compared with other.| campaigns of eq extent, public| interest was small. Professional | operators and pools, however, con- tinued to find it easier to put stoc up than to put them down, and, therefore, kept on working upon this side. In the meantime the investment market once more showed signs of Boftening. This especially true of United States government bonils, st of which touched new lows for | vear. The Treasury 4%s. brouht out at par last October Mld below 99. This was a fair measure of the change in the bond market from its cak siXx months ago—a change brought about by the diversion of | funds from investment channels into trade, constantly increasing commer- | oial demands, and the consequent | Fise in money rates. | Wage Advance Important. . The two most interesting occur- rences, as they bore in _opposite direc- tions upon the financial outlook, were a_further rapid rise in French, Bel- gian and Italian exchange, and, on the other hand, the announcement the American Woolen Company th it had yielded to the demands of its | men and would institute 2 12% per cent wage increase. Even more significant than the fact that French francs were selling % of & cent above their price of little more | than a week ago was the unwilling- ness of the banks to offer drafts on Paris in any but a small and cautious | way. This left no doubt that the real] feeling in bankjng circles regarding | the Franco-Gerfnan situation is that both sides are anxious for an agree- | ment. Action Big Surprise. | The wage increase by the leading | woolen manufacturers of the coun- | try is the more notable im that the owners have been quoted all along as saying that they would prefer to| shut the mills rather than give in to | the employes. It certainly was not ' THE EVENING STAR, WASHINGTOR, 1'%"05 WEDNEST 'YE MARCH .2f, 1923 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. Open. High. Low. Close. Adv Rumley.... Alr Reduction Ajax Rubber.... Alaska Juneau. . All Am Cable. Allied Chemical. Allis Chalmers. . Amal S'gar 1st pt Am Agr Chem.. AmAgrChempt. Am Beet Sugar. Am Bosch. Am Brake S| Am Car & Fdy Am Cotton Oil. AmCotton Ol pt Am Druggist. . Am Express. Am Hide&Le; AmHlde&Lea pr AmlIce.... > Am Interna Am Lingeed. Am Linseed pf. . Am Locomotive. Am Metals. ... Am Radiator. Am Safe Razor. Am Ship & Com. Am Smelting. .. Am Smelting pf. Am Sumatra Am Steel Fdy... Am Sugar. Am Sugar pf . Am Tel & Teleg Am Tobacco. ... Am Tobacco (B) Am Water Wks. AmW Wk 6% pf Am Woolen. Am Woolen pf Am Writ Prpf.. Am Zinc & Lead. Anaconda. Ann Arbor pf. Asso Dry Goods. Asso DryG 2d pf Associated Oil Atchison. . Atchison pf. Atlan Bir & Atl. Atlan Cst Line. . Atlantic Fruit Atl Fruit ctfs Atlantic Gulf. Atlantic Gulf pt Atlantic Ref.... Austin Nichols. . Baldwin Loco. Balto & Ohlo . Balto & Ohio pf. Barnesdall (A). Barnesdall (B). *Bank of Com Bayuk Bros. Beechnut Pac! Beth Steel. . Beth Steel (B) .. Béth Stl 7% (n) . Beth Steel 8% pf Booth Fisheries. Br Em Stl 24 pf. Bklyn Edison. .. Bklyn Rap Tran Bklyn R Tr ctfs. ! Bklyn Un Gas Brown Shoe pf. . Burns Bros (A). Burns Bros (B). Butte Copper. Butterick. California Pack. Calif Petrol. Calif Petrol pf.. Callahan Zinc Calumet & Ariz. Canad'n Pacific. Carson Hill Gold Case Plow Wks. Case Threshing. Case (JD) pf.... Central Leat Central Leath pt Cerro de Pasco. . Chandler Motor. Chesap & Ohio.. Ches & Opf wi. Chi & Alton..... Chi & Alton pf. Chi & EastIll.... Chi & East Il pf Cbi Great West. Chi Great W pf. Chi Mil & St P.. ChiMI1&StPpf. Chi & Northwn. Chi Pheu Tool. . Chi R I & Pacific Chi R 1&P 6% pf ChiRI & P7%Dp? Chile Copper. Chino Copper. Cluett Peabody. Coca-Cola... Cocoa-Cola pf. Colo Fuel....... Columbia Gas. Columb’a Graph Com Solvents B. taken much into account in the mar- Kets of the day. But looking fur-| ther ahead oné must possibility of similar wage demands and similar concessions in many other | industrial lines. | This in turn may be the start of another vicious circle of wage ad- vances involving increase in living costs and such increase involving still further wage demands or a reproduc- tion of the most serious feature in the inflationary era of 1915-1920. Tires Resume Advance. The upbuilding of Kelly-Springfield and United States Rubber, the lead- ers of the tire group, to’ mew high prices for the year today was regard- ed as belated response to the im- provement in the business of these companies and to the upward trend of the tire prices. Buving of these stocks recalled the favorable esti- mates of earnings which have been current in Wall street in the past few months, with respect to the rubber and tire concerns. He Selling The stock market w on previous days in the sense that | more issues participated in the move- | ment. But at the same time as the ! afternoon went on realizing sales| became heavy enough to check the | rdvance in most quarters and bring about a fairly general reaction. It was a difficult market to deal in for | everybody but the nimble floor trader with no comm ons to pay, for the ! individual moves were short lived | and prices quick to give way when efforts were made to sell out. (Copyright, 1928.) EXPORTS IN JANUARY | SHOW MARKED GAINS Commerce Department Reports De- cided Advance Over Figures of Year Ago. visualize the | ear Clowe. s broader than | Exports from the United States during January, according to final figures reported today by the Com- merce Department, amounted to $335.539,192, compared with $278,848,- 469 for the same month last year. Europe and North and South Amer- ica took larger quantities of American goods during January, the depart- ment’s analysis showed, than they did during the same month a year ago, while there was a slight failing off in shipments to Asia, Exports to various grand divisions for the month, as compared with January, 1922, were: Grand divisions. January, 1923. January, 1922, o .$189,658,714 $149,042,473 57,995,083 PHILADELPHIA, March .21.—The Cambria Iron Company stockholders have approved the,proposed assign- ‘ment of the lease of their property Arom the Cambria Steel Company to the Bethlehem Steel interests. Comp Tabulator Cons Cigar..... i Consol Gas new. j Cons Textile Cont Can. Cont Insurance. Continental Mot Corn Products Corn Prod pf Cosden & Co. Crucible Steel. . Cuban-Am Sug. Cub Cane Sugar. j Cuba Cane S pf. Cuban Dom'ican. Cuban Dom Df... Davidson Chem. De Beers. . Del & Hudson. .. D Lack & Wstn. Dome Mines. . DuSS& Alt pf. Dupont (EI) Dupont deb. . Eastman Kodak Elec Stor Bat... Elk Horn Coal.. Endicott-John Erie. . Erie 1st pf.. Erie 2d pf.... FamousPlayers. Famous Play pf. Fd Mines & S pf. FifthAvBusw 1. Fisher Body Fisher Body rts. . Fisher B of O pf Fisk Rubber Fleishman. Freeport Texas. Am Tk Car. Gen Baking. Gen Clgar Gen Eiec:ric Gen Elec spl w 1. Gen Motors. Gimbel Bros. ... Golawin Corp. Goodricn. . Goodrich pf..... Granby Consol. . Gt Northern pf.. Great Nor Ore. Greene-Cananea Guantanamo Su. Gulf Mo & Nor. . Gulf Mo & Norpf Guit St Steel..... Hartman Corp.. Homestake. ... Household Prod.. Houston Oil..... Hudson Motors. Hupp Motors. Hydraulic Steel. Iilinois Central. Indiahoma Inspiration. Interboro Met Interbor Rap Tr. In Ag Chem pf.. Ing Cement. InCombustion B Int Harvester... Int Mer Marine. Int M Marine pf. Int Nickel. . 1ntl Paper. Intl Paper (sta) Int Shoe.. . . Intertype Corp. Invincible Oil... Iron Producté. island Ofl. Jewel Te: Open. 18% 69% 14 1% 103 % 50% 96% 33% 85% 461 56% 82 108% 183 16% 30% 6 187% 12% 1% 108% 29% 354 56% 137% High. 19 0% 14% 1% 103 1% 50% 96% 33% €5% 46% 56% 83 10%% 183 167% 137 Low. 18% 69 13% 1% 103 5% 50 96% 33% 65% 46 54% 82 102% 183 16% 30 6 12% % 108% 29% 851 56% 136% 54 84 8 18 32 Ciose. 19 69% 14% 1% 103 6% 50 96% 33% 66% | 97 53 9% 188% 19 98% 15 39% 20 6814 51% 82 92 186 11% 16 48% 7 41 92 31% 8% 36% 32 11 19 58% 102% 91 37 21% 70% 38% 70% 31% 28% % 116 17% 41% % 2235 36% 42% 26 92% 10% 42% 16% 66% 72 0% 381 18% 66 % 22% Jones Tea. . Kansas City Sou Kansas C Sou pf Kansas & Gulf. . Kayser (Jullus) Kelly-Spr Tire. Kelsey Wheel. . Kennecott. .. Keystone Tire. Lee T & Rubber. Lehigh Valley.. Lima Locomo. .. Loews Inc. Loft Inc. Loose-Wiles. Lorillard (P) Lorillard pf Louis & Nash Mack Trucks. ... Mack Trucks 1st. Macy Co....... Magma Copper. Mallison & Co.. Manhat El Sup. . Man Elev scris . Manhattan Elev Man El inv guar. Manhattan Ects Manhattan Shirt Manati Sugar. . Market St Ry Market St Ry 2d Market St prior. Marland Ofl.... Martin-Parry. . Mathison Alkill. Maxwell (A)... Maxwell (B)... May Dept Stores Meclntyre Porcu. Met Edison pf.. Mex Seaboard. . Mex Sbd ctfs. Ariami Copper. . Middle St Ofl... Midvale Steel Minn & StL (n). Min St P&SS M. M St P & SSM pt Mo, K& Twl... Mo, K & T pf wi. Mo Pacific. . Mo Pacific pf. .. Montana Power. Montgom'y W'rd Moon Motors. Mother Lode. Mullins Body Nash Motors. Natl Acme...... Natl Biscuit w i. Natl Conduit. .. Natl Cloak & S.. atl Enameling Natl Lead. ..... Natl Lead pt. ... Natl Ry of M 2d. vada Copper. N Or Tex & Mex. N Y Air Brk (A) N Y Afr Brake. . Y Central.... NYNH & Hartfd. NY O & Western orfolk & West. North American North Amer pf. North Amer w i North Pacific ©Ohio Fuel Sup. . Cklahoma Prod. Orpheum Circuit Otis Elevator. Ctis Steel. .. Otis Steel pf. Owens Bottle Pacific Develop. Pacific Gas & El Facific Ofl. . Pac Tel & Tel. Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Panhandle Parrish & Bing. Penn Seabd Stl. Pennsylvania. People's Gas. Peoria & East. . Pere Marquette. | Pere Marq pf.. .. Philadelphia Co. Philadel Co ptf. Philip Morris. i Phillips Pete. .. | Pierce-Arrow. .. Pierce-Arrow pf Pierce Oil...... Pierce Ol pf Pitts Coal Pitts & W Va... Pitts & W Va pf. Pitts Steel pf. Postum Cereal Fressed Stl Car. Eroducers& Ref. Pub ServofNJ. Puilman Co. . Punta Alegre Pure Oil.. Pure Oil 8% pf.. Railway Stl Spr. Fay Con Copper. Keading..... Reading 1st pf. Reading 2d pf.. Reis Robert.... Remington. .... Replogle Steel.. Rep Ir & Steel.. Rep Ir & St pf.. Reynolds Spring Rey Tobac (B) Royal Dutch. St Joseph Lead. St L & San Sran. St L & San Sr pf. St L Southwn... St L Soutawn pt San Cecilia Sug. Savage Arms... Seaboard Air L. Seaboard A L pt Sears Roebuck. Seneca Copper. Shattuck-Ariz. Shell Unlan. ... Shell Union pf.. Simms Petrol Simmons. Sinclair Sinclair pt. Skelly Ol1 . Skelly Oil (new). Sloss-Shettield. South Pacific. .. So Porto Sugar. Southern RwY. Southern Ry pf. Spicer Mfg Co.. Stand Milling. St Oil of Calif. .. St Oil of Calif rts StOilof NJwi. StOflof NJ pf.. Steel & Tube pf. Sterling Prod... Stew't-Warner. Stromberg Carb Studebaker. Submarine Boat Superior Ofl.... Superior Steel. . SweetsCoofAam. Tenn Copper. ‘Texas Company. ‘Tex Gf Sulphur. Texas & Pacific. *Tex Pac Ld Tr. Tex & P C&Oil. . Tide Water Ol. . Timken Bearing Tobacco Prod... Tobacco Prod A. Tobacco Prod pf. Tol St L & W pf. Trans Contl Oil. Twin City pf..... Union Bag & P Union Pacific. Union Pacific pf. Un k Cr pf. Un Alloy Steel. Un Cigar St pf. United Drug. . United Ry Inv.. Utd Ry Inv pf. Unit Retall Strs. U S Cast Ir Pipe. U 8 Food Prod. . U S Hoffman Mct U S Indus Alco.. S Realty. U Us us us USSteel.....« U SSteel pf.... U 8 Tobacco. 62% 24% 57 2% 42% 58% 111% 43% 9% 30% 67% T4% 21 8% 58% 168 117T% s 87 96% 68 37% 84y 63 4% 55% 42% 43 45 7% 17% 43 80 49% 81% 62% 59% 18% 3% 18% 984 19% 18% 29% 11% 31% 41 108% 118% 67 62% 24% 57 24 43% 61 111% 43% bl 1% 67% T4% 21 8% B58% 168 117% 144% 87 “96% 69% 38 34% 66 4% 65% 427 43 45 1% 18 43 61% 24% 57 2 42% 58% 110% 43% 9% 30% 67% 73 204 8% 5% 167 1174 144 84% 94 67% 37% 344 61% 4% 54% 42% 43 44% 1% 17% 43 79 4874 31% 61% 59% 18% 3% 18% 98Y 18% 18% 29% 11% 31% 61% 24% 57 2 43% 60% 110% 43% 9% 31% 6% 3 20% 8 57% 167 117% 144% 8% 9 68% 87% 34% 61% 4% 543 SEABOARD AR LNE | (=== zor= BONDS | 1SSUEPUT ON SALE Bond Adjustments Feature of Today’s Trading in Firm Market. BY GEORGE T. HUGHES. Special Dispateh to The St A NEW YORK, March 21.—The even- ing-up process continued in today's bond market. Evidences of further readjustment of yields to current rates for money were everywhere ap- parent. Two widely separated cases illus- trate the point. Atchison General 4s s0ld down to a new low for the year, a yield basis of 4.75 per cent. Bankers for the Seaboard Air Line of- fered a new series of equipment trust certificates with a coupon rate of one- half of 1 per cent higher than the latest prior offering of the same rall- road. ¥ In September, 1922, a 5 1-2 per cent certificate was offered at prices to yield 5 to 53-4 per cent, according to the maturity, while today's offer- ing was a 6 per cent certificate at par for all maturities. In the in- terval the financial position of the Seaboard has improved. The Atchi- son is one of the strongest, and the Seaboard one of the weakest of Ameri- can railroads, but the governing factor in_each case Is the money rate. Speculative bonds were all or nearly all in high favor today. After a firm opening liberties re- acted, with the Treasury 4%s ap- proximating the low record for all time. French bonds were firm in sym- pathy with the rise in franc exchange, NEW WiLD JUMP - INPIGGLY WIGGLY Barred From “Big Board,” Stock4 Leaps Upward in Sales Over Counter. By the Associated Press. NEW YORK, March 21.—Barred from the “big board” of the New York Stock hange, Piggly Wiggly today made another sensational ad- vance “over the counter.” When trading opened the stock was quoted at 75 bid and $5 asked. but shortly before 11:30 o'clock the quotation read 160 bid and 150 asked. Barred by Exchange Governors. Trading in class A common stock of the chain grocery stores was sus- ended yvesterday by the governors t the New York Stock Exchange fter one of the most violent price luctuations in the recent history of the exchange, during which specu- lators were squeezed for heavy lo: s, The shares leaped from 72 to 124 and closed dt 82, which was only 10 points up from Monday's close. During the height of the scramble {the business conduct and governing commitees of the exchange hurried into consultation and hastened their | investigation ordered ten days ago, which resulted in the order barring the stock. Jesse L issued o employ. Livermore, noted trader, atement saying he had been by Clarence Saunders of Memphis, Tenn., president of the cor: poration. to handle the stock opera® tions and that he had been ordered by Mr. Saunders to suspend all transac- tions on_his account. When Livermore ceased his opera- tions the skyrocketing began. Fully one-third of the brokers crowded about the Piggly Wiggly post. The rapid descent began when it became known that the stock exchange com- mittees were considering the with- drawal of the stock. Novice Trader Makes $50,000. Wal] street buzzed today with the reports of heavy losses sustained by some professional speculators and comfortable profits made by others. One _report said a retired Providence, grocer, a novice at trading, a profit of $50,000. Claims against the shorts will settled by arbitration. No Actual Sales Above S5. s an active inquiry today in houses specializing in “over-the- counter” sales for Piggly Wiggly stock. It was stated, however, that there had been no actual sales above 85. Several outside houses reported sales ranging from 110 to 150. A settlement price has not yet been determined. _—————— TODAY’S COTTON PRICES. NEW ORLEANS, March 21.—While poor cables caused a drop of 5 to 13 points in the price of cotton during the first call today the market almost immediately met support¢ based on further unfavorable weather pros- pects for the belt, the forecast calling for rain in every cotton state, with snow and freezing probably in some northwestern districts. At the end of the first half hour of business the trading months were 1 to 12 points higher than the close of yesterday. May, after trading down to 30.27, rose to 30.41, and October, after falling oft to 26.27, rose to 26.44 Cotton opened steady. March, 30.40; May, 30.27; July, 30.05; October, 26.27; December, 35.80. NEW YORK, March 21.—Cotton futures opened barely steady; March, 30. May, 30.95; July, 30.12; October, 2 December, 26.13. Proof. From London Punch. The Professor—Isn't it wonderful, my dear? They've actually found in the tomb couches and chairs thirty centuries old and in good condition. His Wife—I have always said, John, that it pays in the long run to buy the best. et — 43% 22% 66% 15% 21 11 33% 22 43 14% 112% 13% 24% 18% 61 115 65 9% % 9% 68 4% 124 40 be 44% 23% 67% 15% 22% 11% 33% 22 43% 23 66% 16% 22% 11% 33% 22 43 14% 112% 13% 25 19 61 115 65 9% 17% 29% 4% Vanadium Corp. Va-Cr Chemical. Va-CarChem pf. Va-C Chem (B). Vivadou. . Wabash........ Wabash pf (A). Wabash pt (B). Waldortf System. Web & Heilbrn. Western Elec pf ‘Western Md. . Western Md 2d. Western Pacific. ‘Western Pac pf. ‘Western Union. Westhse El1 & M Wheeling & L E Wheel & L E pf. White Eagle Oil White Motor.... White Oil...... Wickwir . ‘Wilson Co. Willys-Overld. % % % WiIl's-Overldpt 52% 62% 52% WNoolworth. . 216% 218 216% Worthington... 89 39 39 Worthing pf(A) 83 83 83 Wright Aero.... 9% 9% 9% Youngstn Tube. 74 74 74 *0dd lot. High Low. Last, Call Mone; 5% 5 6% HOURLY SALES OF STOCKS. 11am..... 401200 12m. 723 400 1pm...sa $09600. 2 p.m.....1.080 600 444 23 67% 15% 21 11 33% 22 38w 43y 14% 14% 112% 112% 18% 13% 24% 26% 18% 19% 61 61 115% 116% 65% 65% 9% 9% 18" 18 30% ~ 30% 59 59 4% 4% 124 12% 0% 40% (Bales are in $1,000.) STOCK EXCHANGE Private Wire Direct to The Star Office, For Revised Close ofl Bond Market see 5:30 Edition of The Evening Star, UNITED STATES BONDS. Sales. High. Lib3ys Lib 18t 4 Lib 2d 4%s... Lib 3d 4%s. .. Lib 4th 4%s. . Victory 4% US4%s1952.. FOREIGN. Bales. High, Argentine 7s. Belgium 7%s. Belgium 6; Belgium 8s. Bolivia 8s 16 26 'anada 58 1952. ... Chile 85 1946 - Chile 85 1926. Chile 85 1941. .. Chinese Gov Ry Copenhagen 5%s. . Cubab¥swi..... Czechoslovakia 8s, Denmark 8s Denmark 6s. £ Dutch East I 6347 Dutch East T 68 '62 FramericanID7%s French Govt 8s. ... French Govt 7% Hait! 6sctfs. ..... Holland-Ams f 6s. Japanese 1st 4143, Japanese 2 43 Japanese 4s Jergen U M 6s°47. Lyons 6 Marsellles 6s. Mexico 5s. . Mexico 5s large Netherlands 6s. Ly's-Med 6s Prague 7%s Queensland 6s. ... Rio de Jan 8s 1946. Rio de Jan 8s 1947. Rio Gr Do Sul 8s, Sao Paulo,State, 8s. Seine, Dept of, 7s.. BerbsCrotsSlov 8s, Solssons 6s Sweden 65 z SwissConfedst8s. 10 Toklo 5s.... 9 Ud King'm 5%s 29133 Ud King’'m 5%s '37 24 Uruguay 8s....... 1 Ajax Rubber 8s. .. Am AgrChem T%s 7 Am Cotton Oil 5s.. 7 AmSmelt&R 1st5s. 16 Am Sugar Ref 6s.. 7 AmT&Tcv 6s. 1 AmT&Tcltrbs.. 15 AmT& Tcltris.. 31 Anaconda cv db 7s..127 Anaconda 1st 6s.... 71 Armour & Co 4%s. 10 Atlantic Refin 6s 3 Bell Tale Pa5srcts 32 Bell Tele Pa 7s. Bethleh'm Stl rf 53 Beth’'m Stl p m 5s. Beth'm Stl s f 63 Brier HSt 1st § Bklyn Edison 7s D. Bush T Bldg 5s '60. Cerro de Pasco 8s. Chile Copper 6s... Chile Copper 7s. .. Con Coal Ma 1st Cub CaneScvd 8s. Det Edison ref 6s. Du Pont de N 73%s. Duquesne Lt 71%5. Duquesne Light 63 E Cuba Sug T%s. . Empire F&G T%s. Gen Elec deb 5s. .. Gen Refract'es 6s. Goodr'h (BF) 6% Goodyear Tr 8s '31. Goodyear Tr 85 °41. Humble O&R 5%s. Indiana Steel 55 Int Mer Marine 6s. Int Paper 1=t 5s B. Kelly-Sp'gfleld 8s. Lackaw'a S 53°'50. . Liggett & Myers 7s ! Liggett & Myers 53 { Magma Cop cv 7s. Manat Sug sf 7% Marland Oil 71 {Marland Oil 8s w Mexican Petrol Midvale Steel 53 Montana Power s Morris&Colst4%4s. Nat Tube 1st bs. .. New Eng Tel 5s. NY Edison 1st 6348 NYGELH&P6s. N Y Tel 6s'41..... N Am Edison 6s... N States Pow bs Northwst B Tel Otis Steel 8s... Pacific Gas & El 53 PacT & T 5s'52... Packard Motor 8s. Phila Coref 65 A. . Pierce-Arrow 8s w i Producers & Rf 8s. Public Service bs. Punta Alegre 7s. Sinclair Ofl Sin Crude Oil 5%s. Sin Pipe Line 6s So Por Rico Sug 7s. St Ofl of Calif 7s... Tide Wat Oil 6%s. Tobacco Prod sf 7s Toledo Ed'n 1st 7s. Unit Drug cv 8s... U S Rub 1st rf 5 {US Rubber 7%s USSteelsfbs.... Utah Pow & Lt bs. Va-Car Chem 7s. Warner Sugar 7s.. West Union 63%s.. 1i Wilson & Co 1st 6s 1! Wilson&Ccv T%s. Wilson & Cocvés. 9 103 99% 94% 99% 92% 8 B82% 95% 103% 101% 100% 98% 103% 102% 103% 51 91 99% 89 109% 9T 94% 94 88% 98% 94 97% 0% 3% 927 82 81% 8% 1% 56 55 98% 112% 98 3% 5% 101% 94% 93% 96% 99% 87% 67 8% 104% 118% 3% 115% 104 104% 104 70 8874 Low. 95 10100 10094 32 9774 9764 787 9770 9752 484 9834 9822 730 9780 9766 29 100 08 100 04 546 9914 9886 Low. 102% 29 94% 99 1% % 82% 95% 103% 101 100% 98% 103% 102% 108% 50% 90 99% 88% 109 97 94% 93% 88% 98 93% 97% 89% 93% 92% 81% 81% 8% 1% 55% 54% 98% 112 9744 3% 75 101 94 93% 96% 9% 87 66% 78 104 118% 3% 115% 103% 104% MISCELLANEOUS. 4 9ThH 96% 103% 675 8813 1021 102 116% 96% 91% 103% 116% 9514 913 102% 96 6 97% 9644 1073 91 884 9TV 94" 1073 1431 100% 116% 87 9514 101% 108% 1074 102 107% 937 100 9814 100 103% 1161 98 995 88 85 108% 8915 115 971 119 100% 120 130% 108% 87% 941 814 987 963, 4 1081 107% 84% 121% 100% 98% 85% 101% 105% 102% 104% 106 111 87 108% 102% 878 964 104% 107% 9915 6 103% 963 98% 103% 92 88% 107% 100% 20 891, 107% 99 81 107% 84y 119% 100 9814 85% 101% 105 102 104% 105% 110 86% 107% 1024% 87l 96 104% 107 99 103 96% ECONOMIC REPORTS Close. 100 94 97 64 9758 9824 9770 100 04 9890 Close. 102% 9% 947% 99% 92% 7% 2% 95% 103% 101% 100% 98% 103% 102% 103% 61 91 9% 89 109% 97% 94% 94 88% 98% 94 97% 89% 93% 92% 81% 81% 78% 1% 56 54% 98% 112% 98 3% 5% 101 94 93% 96% 99% 87% 67 78 104% 118% 3% 115% 103% 104% 96% 104 T 881% 102 116% 951 91%% 103% OF 13 COUNTRIES READ By the Associated Press. ROME, March 21.—Reports on eco- nomic conditions in thirteen countries were read today before the finance group of the International Chamber of Commerce. Ivy Lee, acting in be- half of A. C. Bedford, chairman of the American finance committee, read the American report which covered all ot finance, ture. branches industry, transportation and agricul- trade, The American delegation’s resolu- tion advocating the convocation of a world economic conference will not be placed before the congress before Friday. have been today, This resolution which was to submitted em- bodies the views of the international chamber on reparations, debts, and exchange. interallied —_— FOREIGN EXCHANGE. By the Associated Press. international credits. budgets NEW YORK, March 21.—Foreign Quotations (in exchanges irregular. United States dollars: —Demand, 4.69 1-1 Italy—Demand, .050; Belgium — Demand, ). Great Britain :‘.-,nbl;-. u:_’s-:%: ixty-o bills on banks, 4.67 1-16. ;'rx-xfu‘—“bemd, .0682; cables, .0682%. cables, .0502%. .0600; cables, .0600%. Germany—Demand, .000048% ; cables, .000048%. Holland—Demand, -3940; cables mand, .1806. Denmark—Demand, .1545. land—Demand, vakia—Demand, .02! Demand, ,3712. 11264 .3943%. Greece—Demand, -0000: 963%. .1913. Norway—De- Sweden—Demand, .2658. Switzer- land—Demand, .1844. Spain—Demand, .0109. Po- Czechoslo- Argentine— Brazil—Demand, -16e RAILROADS. * ‘Sales. High, 85% 78% 84% 83% 94% 76 100% 80% 81% 4% 93% 2% 62% 1% 1% 114 111% 1% 89% 83 1% 86 81% 98% 8% 52% 62 69% 83 67% 2% 80% 106% 108 817% 1% T2% - Low. Closb. | 85 85% 78% 8% 84% 84% 82% 82% 94% 94% 75% 75% 99% 99% 9% 80% 80% 81% 73% 73% 93% 93% 62% 62% 62% 62% 91 91% 91% 91% 118% 114 114% m%] Atchison gen 4s. Atchison adj 4s Atlantic C L 1st 4s. Atlantic CL 4%s. . B&Opfin3ys... 1 0 PLE&WV 4; &0 SW div 3%s. B & O Toledo 4s. BKIyn R T 43 2002. Bklyn R T 7s21. BkIRT 7s:"21 ctf; Canadian North 7s. Canad North 6%s Canad Pac deb 1s. . Car Clinch & O 5s. . Central Pacific 4s Ches & Ohio cv bs. Ches & O cv 434, Ches & O gn 4345 Chi B&Q 1strf bs.. Chi & ETll gn bs. .. ChlGreat West 4s. Chi M&S P rf 4145, Chi M&St P cv bs. . Chi M&St'P 45 25" ChIM&S P cv 43 Chi M&St P 45°34. . CM&StPgn4ks Chi & N'W 7s. Chi Rys bs. ChiR1& Pacrf ds. Ch1 & W Ind cn 4, Chi Un Sta 61%s. ChiUn Sta 4%s CCC&StLrf 6s A CCC& St L 43%s. Cleve Term 53s. .. Colo & Sou 4345 Cuba R R bs. . Del & Hd 1st rf 4s. Del & Hudson 5%s Den&Rio G con 4s. D& R G1strf 5s Det United 448 Erie 1st con 4s. Erie con ext 7s. Erle gen 4s. Erie conv4sA. Erfeconv 4s D. Gr Trunk sf deb 6s. Grand Trunk 7s. Gr North gen 7s. .. Gr North gen 53%s. Havana ERL&P bs Hud & Man ref 5s. Hud & Man aj 5s. .. T11 Central ref 4; 11l Central 5%s Int Rap Tran bs. Int R Transit 7s. Int & G Nor aj 6s. Towa Central rf 4s. Towa Cent 1st 5s. .. Kan City Ft S 4s.. Kaneas City S 3s Kan City So 5s. Kan City Term 4 Lake Shore 43°28. . Lake Shore ¢s '31.. Lehigh Val on 4. Lehigh Valley 6s Long Island rf 4s. . Leuls & Nash 5%s. Manhat Ry cn 4s Market St cn 55 Mil El Ry & L 5s. M & St L rf ex 5s. M& St Listrfds.. T StP & SSAT 6 T1stds.... 20 TprintsA. 46 71 1% 89% 89% 81% 83 I %0 91 85% 81% 9% 8% 52 60% 68% 82 66% 2% 80 106% 108+« 81% 77 2% 114% 90 100% 90% 102 81% 83 85% 99 73% b53% 84 56 103% 46% 49 51% 4 103% K& K& K& Mo Pacific gn 4s... 50 Montreal Tm 1st 53 5 N O Tex & Min 3s. N Y Cent deb 6s. NYCentriss N Y Cen LScl3%s.. New Haven cd 6s. New Haven 7= fr NY W & Bos 4} Norfolk & W cn 4s Norfolk & W cv 6 Northern Pac 3s Northern Pac North'n Pacri O Short Licn 55 '46. Ore Short L ref 4s. Ore-Wash 1st rf 4s. Pennsyl gen 3s.... Pennsyl gen 4%s. . Pennsyl 6 2 Pennsyl gold 7s Pere Mrq 1st 4s ‘56 Reading gen 4s. ... Rio Grand W cl 4s. RIArk & L4%s... St LIM&S R&G ds StLIM&S4s 29, 7 | turn in the price of wheat to Seab'd A Liret 4s Seab’d A L adj 5s Seab'd A L con 6s. . Sou Pacific cv 4s... Sou Pacific re? 4s. . Southern Ry 1st 53 Southern Ry gn 4s. Southern Ry 6%s.. Third Ave ref 4s. .. Third Ave adj 5s Union Pac st 4s... Union Pac 1st rf 43 Union Pac cv 4s.... 82 94% Union Pac cv 6s. Virginia Ry 1st 5s. VaRy & P 1st bs. Wabash 1st 5s. Western Md 4 103 4 92 86% 95 60 80% 78% 58% 1 Western Pacific 5s. West Shore 1st 43. Wheel & L E cn 4s. TOTAL SALES (Par Value): 1 1 1 vl 32 1 4 5 3257000 12 noon 5613000 6650000 2p.m.. 7995000 1lam.. 1p.m. FRENCH FRANGS TAKE SHARP UPWARD TURN Improvement in Exchange Due to { the part of houses with ea { advance Bank of France Preparing for Huge Loans. By the Associated Press. PARIS, March 21.—The drop of the dollar by more than two francs on, the exchange market since last Wednes- day is attributed on the bourse to the action of the Bank of France in pre- paring the market for loans author- ized by parliament to a total of. 15. 000,000,000 francs. Of this amount 2. 000,000 francs will go to balance the budget, 5,000,000,000 francs to meet the short-term obligations coming due soon and 8,000,000,000 francs author- ized for reconstruction. The.bulk of the operations on the boursé at present is in foreign se- curities and it is commonly reported in trading circles that the Bank of France i® in accord with the gov- ernment, is pushing the franc up by P s of exchange and at the same time pressing down the value of forelgn stocks. The conse- quence of the movement is temporary stagnation on the bourse, there be- ing a great predominance of sellers who find difficulty in liquidating their holdings. _ It i{s anticipated by the experts that the upward movement of the franc will continue until the sub- scriptions to the loan opening in April are closed. Expenditures in execution of the Grain, Produce and, Live Stock WHOLESALE MARKET. Eggs—Strictly fresh, sclected, can- dled, per dozen, 26a27; average receipts, 25; southern, 25. Live poultry—Roosters, per ib. 18; turkeys, per b, 30a40; spring chickens, per 1b.,’ 33a45; keats, young, each, 60 fowls, each, 3 Dressed poultry—Fresh-killed spring chickens, per Ib., 45a50; hens, per 1b., 33a34; roosters, turkeys, per 1b., 36a40; 8 Live' stock—Calves, 5 12%;: medium, per 1b., 10a12; thin, per 1b., §a9. Lambs, choice, per Ib., 13. Live Digs, 3.00a5.00 each; live hogs, per 1b., 9%, Green fruits—Apples, per bbl., 2.00a 6.50. California oranges, per crate, 5.50 26.00; Florida, 4.00a5.00. Lemons, per box, . Grapefruit, .3.50a4.25. Tangerines, 4.00a5.50. i Vegetables—Potatoes, per bbl., No. 1. 1.50a2.00; per sack, 2.25a2.50; No. 2, 50a 1.00. " Sweet potatoes, North Carolina, 1.00a2.00; nearby, 2.00a2.50. Lettuce, per crate, southern, Romaine let- tuce, per crate, 1. Iceburg let- tuce, per crate, 3.50: Cabbage, northern, 3.00a4.00 per 100 pounds; near- by cabbage, per bbl., 1.50a2.50; southern, 325a3.50 per basket. gplants, per crate, 2.50a580. Tomatoes, per box, Florida, 1.50a%#4. Beans, 2.00a4.00 per basket. Peas, $ 0 per basket. Pep- pers, per crate, Fiorida, 2.50a3.50. Kale, per barrel, 2.50a3.00. Spinach, per bbl. 2.50a3.00. Celery, per crate, Florida, 2.7523.25. Brussels sprouts, 25a30. Squash, 3.00a5.00. Florida lima beans, 4.50a5.00 per basket. GRAIN AND PROVISIONS, BALTIMORE, Md., March 21 (Spe- sial).—Potatoes, white, 100 poind 75a1.50; 150-pound sacks, 1.00: veets, barrel, 1.00a1.75; bushel, 50a 65; yams, barrel, ; bushel, 50a65. Beans, bushel 50. Beets, hundred, 5.00a7.00. Brussels sprouts, art, 10a2 ze, hamper, 2 T et 3 sket, 30a60. Cauli flower, crate, 50. Celery, crate, Ccrate, 5.00a8.00. 4100a6.00. Horse: )a3.50. Kale and 00. Lettuce, 100 ponuds, hundred, hel, 1 Tepr ach, barrel, 2.00; 300a4.00. To. Turnips, | ts crate bushel barrel, 1. 0a2.00." Onlons, plants, 50 basket, 50a60. Appl pa hel, 1.00a1.7" 122.00; hasket 2.00. 3.0026.00; box, 24.50. Tanger- Grapefruit Oranges, bhox, Strawberries. quart, 20a40. ines, half strap, 8.50a4.00. Selling Prices at 12:30. 0. 1 red winter, spot, quotations; No. 2 red winter, 8 0.'3 red winter, spot, no quo- red winter, garlicky. d winter, garlicky, no h, 1.36%. no quotation Sales—: Corn—Cob _corn, new, 4.60 per bar- rel; contract, spot. 84 per bushel; No. 2 corn, spot, 863 ; ) no quo- tations; track corn, ¥ No. 3 or and 90 per busk Oats—White per bushel: No. . Western export, 933 per bush- NO. 3¢ @ quotati okl top grade mixed, e demand a .00 per ton, ble ha 0. 1 tangled 1 wheat, 14.00a o, nominal, DAIRY BALTIMORE, ) Live poultry—Turl oat, PRODUCTS. breasts, rough n a sters, and poo; guinea Dress 2: old toms, Turkes pound. | and crooked | ss off native and mnearby ; southern, 24; duck e TODAY’S CHICAGO PRICES. CHICAGO, March 21.—Buying rn con- erial up- ¢ dur- ing the early dealings. Indications of new export business on this side of the Atlantic, together with higher quotations at Liverpool, had consid- erable bullish influenc Besides. in French exchange also to the infer on nections brought about a m: tended valu, conditions | roked for. d from 15 to in cen The opening. 13 highe and July, 1.173% to 11714, was follow- slight reactic s of T ave independent strength to corn and oat fter opening % to 1 higher, May, 75 to 753, the forn market held close to the initial range. Oats started %a% to %a% higher, 453%, and later gave ground a Provisions declined in line with the hog market. WHEAT— Ope S CHICAGO LIVE STOCK MARKET. CHICAGO, March 21 (United States Department of Agricu ,000 heac bulk desirabl 8, 8.45; to 300 pound butchers, acking around zs 7.00a8.00: cy-weight hogs, §.00a8.30; medium, 820a850: light, 8.40a8.60; light .75: packing sows rough, 7.09a killing pigs, 7.00a8.35. Cattle—Receipts, 15.000 head; beef slow, uneven lower; early 15 to 25 under Tues- v's average market: largely a steer run; killing auality, medium to good; early top vearlings. 9.65; some year. lings and matured steers held around 10.00; bulk beef steers of quality and condition to sell 8.0029.25; beef heifers. comparativel numerous, weak to unevenly lowe; everal load. beef heifers, 6.85a8.65; 134 head scal- ing 670-pound at outside figure; beef cows. weak to 15 lower: veal calves, quality considered, 25 higher; spots considerably moreé; other classes steady: bulk veal calves to packers, 11.00a11.50: shippers upward to 13.00. Sheep—Receipts, 18,000 head; open- ing fairly active; early sales wooled lambs, fully steady; clipped lambs, weak, tending lower: early top, 1 to packers for two loads choice eighty-five-pound lambs; several lc held higher; bulk, early sales, 14.7 15.00; clipped lambs, 12.10 fto heavies out at 10.00; sheep scarce; few clipped ewes, averaging 132 pounds, 6.75; two loads desirable ninety-pound _shearjng lambs fully steady at 14.75, COUNTESS TO SING. By the Associated Press. LONDON. March 21.—The Countess peace treaty have risen more than 2,500,000,000,000 marks, while since last autumn there has been an in- crease of 6,200,000,000,000 marks in the total budgetary deficit of 7,100,- 000,000,000 marks. —_— If a lemon is warmed before being cut and squeezed it will yleld twice 3= much. juice as otherwise, of Westmoreland plans to make her debut in London as a_professional so- prano on Eastern Sunday. The count- css, who i8 the widow of the thirteenth Earl of Westmoreland, does not profess that she is making the venture for any other purpose than to earn a living. She is the daughter of a Baptist min- ister, the late Rev. John S. Geale. Her husband %Ied last year, c |E i I alfrom th and of rural | light, 8.00a8.60; packing sows smooth, | STEADY INCREASE INEXPORTS SEEN Sales Managers Greatly Pleased With Gain in Orders, Since First of Year. . BY J. C. ROY 8pecial Dispatch to The Star. NEW YORK, March 21.— vort of finished manufactured products in many lines of industry will be larger this year than in any similar perfod in history, according to export sales managers who have gathered h discuss their problems. They this statement on the goods already shipped since January 1 and th orders on the books of their comp Unfavorable conditions and central Europe will balanced by strong other parts of to H. P. Rockw the Yawman office equipm aid, would ca, Scandinavi; Spain, - outh Africa, China, Japan and Australia. Army Was Advance “The Americ war s to base in during the c sales agent of American manufactured products, Rockwell said. “Nea v very bullet the merican Arm fired shot a des] a typewriter or an adding maol L‘ into a foreign office. 4 cu Saw the methods and pment used in our Army canto ments and headquarters, compared them with their own, and’ have b ing freel from us ever e Dank of ngland it 8 an adding wtter 1914 Office equipment_and equipment are a reliable in these lines may be taken to indi hat sales of other American pro n foreign countries will be equally gent. This nd tend 0 som ertain mec roD d One of the big re: and will be a big d r goods is because the old sho policy of exporters to ge on a sales argument, ba i l|1|| i(fl’\‘l(‘/‘,d and then deliver vy old ind of goods has been definite 3 kind o finitely aban Americans Cease to Strut. [ Foreign busi- ind the n personal touch w can_customer port_agent. “We formerly sold to people “wef did not know through people we did not he said.” “The personal touch to lasting export busi . Now salesmen are to foreign customers as well as tution of salesmen c h the South Ameri- for a manufacturer's ex- endous c throf eflected in n t the American-Haw pany will be Pacific ¢ v be growth the the Ps nne s _of the hip Com- at onc is moved ast so thi close to the of ‘much of its busin pany owns twenty 216,000 deadweight tons uropean demand for copper con- tinues “strong, with Great Britain Fr: aly all buy ing the al behind sction | is €l with con- end of the tic 00,000 a ments, not expe was_the which exceeded $1,000,000 in Fancy Prices for Wool. . ANGELO. Tex ith shearin away, fan red today for wo, and southwest indicate many ins E m's clip nal the animals $1,000,000 City Hall Planned. ST. PAT March 21 | —Contracts will be awardc jfor construction of a new |city hall at Duluth. Ely art construction shortly 000 high school and {the new £2.000.600 cons gram on the St. Paul U have been let. Work w in a week. Heavy Trading in 1 FORTWORTH, March 21 - in f tive throughout the aMrch 21 (Spe- ime bid that s to Mir (Special ). their by In g lands some 0 an < them in cheaper r: ricts. instances they are to seH at acre and rebuy new land at $0. Building Boom in Pittsburgh, PITTSBURGH rch 21, Building permit ued by the city lin the past five d involve $1, 091, There are 139 housing propos tions on the list. ome involving ninety-six dwellings. For the vear to date building permits total 110,000, These figures cover the city { proper, in which only a half of the veople of the country dwell, RAW SUGAR MARKET. NEW YCRK, March 21.—The ugar market was unchanged for Cubas equal to 7.22 for centrifugal. There were 10,000 bags of Cubas for Mare 1gceal ®efiner. Raw r futures were sy under sel) v trade interests and houses with Cuban onnections, owing to the unsettled fe ng in the spot market, with prices at midday about 6 points net low The murket for refined sugar w ged to 30 jpoints lower in thy with the recent decline in raws with fine gran- ulated, now quoted at 8. 00. Special) raw early cost and LIVERPOOL COTTON: LIVERPOOL, Marcl/ 21—Cotton - Spot. increased demand; prices steady: good middling, 16.60; fully middling. middling, 1 low middling, good ordinar. ordinary. } sale; 000 including 4,500 Ame: rece 000 b including 12,800 Ame Futu closed weak; March, July, 15.50; "Octobei 13.92. bales PARIS BOURSE QUIET. PARIS, March 21.—Prices were easy on the bogrse today. Three per cent rentes, 57 francs 70 centimes. kx. change on London, 69 francs 95 cen- times. Five per cent loam, 74 francs 10 _centimes. The dollar was quoted at 14 92 centimes. NEW YORK DAIRY PRICES. NEW YORK, March 21.—Butter— Barely steady; receipts, 14,303 packages. (Creamery. firsts (85 to 91 score), 49%a 50%; packing stock, current make, No. 2, 391a40. Eggs—Irregular; cases; fresh gathered firsts, Pacific coast, whites, do., firsts, extra firsts, Cheese—Steady; receipts, boxes, francs receipts,