Evening Star Newspaper, March 22, 1923, Page 28

‘'FINANCIAL.” RAILBOAD SHARES GIVEN ATTENTION Buying Orders Help to Steady Market After Irregular Moves Early in Day. BY STUART P. WEST. Speclal Dispatch to The Star. NEW YORK, March 22.—The selling which had begun to show toward the olose of 'business Wednesday came into the market today. It brought about an appearance of heaviness in the main part of the share list, but did not prevent a number of upward movements in special stocks. Tire shares were strong again, more particularly United States Rubber and Kelly Springfield. Inasmuch as there is no thought of either of these companies resuming dividends during the current year, at least, sponsors for these stocks have to depend en- tirely upon flattering estimates of present and prospective earnings to Justify the advance. Heavy selling of Standard Oil stocks was regarded in some quarters as possibly suggestive of a less bullish attitude on the part of the Standard Oil interests. Marland made the best showing of any of the oils following the annual report. Raflrond Shares Taken Up. After a rather unsteady forenoon a diversion was created by buying or- ders thrown into a number of the rails, Wabash preferred A, which has stood out prominently on Several oc- casions during the last week in a manner to suggest developments of importance, again came to the front Pere Marquette was bought on talk ef a dividend before the year end and 80 was Baltimore and Ohio. Special weakness appeared in Amer- ican Cotton oil stocks following a decline of over 7 points within the last ten days in the 5 per cent de- benture bonds. . Today's Financial Review. w's financial markets features were greater ir- arity and uncertainty in the course of stock prices, further weak- n in United States government bonds, definite signs of hardening in time money and a sharp reaction in the past_borrowers of time money have been bidding 5% per cent, while holding off for 51;. Today for the first time large loans were reported at the higher figure; that is to &a users of time funds were at le shrinkage in the 1 demands for credit and by the | much higher price levels at which business and speculative transactions are now being conducted. French Francs Decline. French exchange was off fully i of & cent from the high of the previous day, indicating that the recovery of the past week had been too rapid. The absence of anything further in the news to" confirm hopes of a Franco-German settlement no_doubt had a good deal to do with the de- cline. But of more importance was the hint given in cables from Paris that the French zovernment and the Bank of France have been comb to put up the value of the fra: to help the huge financing which is to come off in the early part of April to balance the budget, provide for re- construction expenditures in lieu of German indemnity payments and to take care of maturing obligations. new Joans to the amount of 15,000, 000,000 francs have got to be floated. Reynolds Spring Drops. The precipitate drop in Reynolds Spring soon after the opening today was not due to any change in the af- tairs of the company itself, but rather to the operations of a pool which was attempting to eliminate a certain fol- lowing which has held a block of Reynolds at considerably higher prices. At its low of 19%; this morn- ing Reynolds was selling more than four points under Wedn ¥'s close and about eight points b w the top 1cached earlier in the year. After this selling was over the stock got back across 21, the average at which the present pool is understood to have acquired its holdings. There was a_renewal of buying in May Department Stores, carrying the stock to its highest for the present movement. ~ This followed the an- nouncement of net income for 1 which amounted to nearly $10 a sh: on the stock, which pays $5 annu- ally in dividends. Current earnings of May Department have been typical of satisfactory condition of the dry goods and department stores. May ditional income from of the Los Angeles hich it purchased recently for approximately $8,000,000. Sugnr Price Cuts Ignored. Another reduction in refined sugar prices—the second in two days—had little or no effect upor the sugar stock: because it was regarded merely as a little reaction in a mar- ket which had been going up too fast and not at all significant of a change in the statistical position of the sugar industry. Copper stocks continued to be in- different to the strength of the cop- per metal. In this connection, the detailed figures of the January for- eign trade were enlightening. Stocks Pushed Up at Close, In the afternoon operations for the rise were once more predominant. Among the oil shares Marland was bid up 2 points to 52 and Phillips Pete nearly 2 points, close to 8. Punta Alegre more thun regained the ground lost early in the day. Enor- mous blocks of Packard Motors were | taken just above 15, the stock mov- ing forward subsequently. Corn Products was suddenly taken up in the last hour. (Copyright, 1923.) CRUDE OLOUTPUT INCREASES N WEEK Petroleum Institute Reports Slight Falling Off in Imports for Same Period. By the Associated Press. NEW YORK, March 22.—The daily average gross crude oil production of the United States increased 5,350 bar- rels for the week ended March 17, totaling 1,807,150 barrels, as com- pared with 1,801,800 for the preced- ing week, according to the weekly summary of the American Petroledim Institute. The daily average produc- tion east of the Rocky Mountains was 1,177,150 barrels, as compared with 1,166,800, an increase of 10,350. Cali- fornia production was 630,000, as cpm- pared with 635,000, According to figures collected by the institute, the imports of petro- leumr (crude and refined oils) at the principal United States ports for the ‘week ended March 17 totaled 2,160,001 barrels, a daily average of 308,572, compared with 2,304,345, a daily ave: sge of 329,192 for the week ended March 10. Receipts of California oil (crude and refined oils) at the prin- cipal Atlantic coast and gulf coast ports for the week ended March 17 totaled 680,000 barrels, a dally aver- age of 97,143, compared with 431,000, a dally average of 61,5671, for the week ended March 10. & —_— ‘WILL CLOSE GOOD FRIDAY. NEW YORK, March 22.—The New York coffee and sugar exchange will be closed on Good Friday and the following Saturday, it was announced lenders have been | NEW YORK STOCK Received by, Private Wire Direct Adv Rumley.... Adv Rumley pf. Afr Reduction. . Ajax Rubber. Alaska Gold. Alaska Junea Allis Chalm pf. Am Bank Note. Am Beet Sugar. Am Bosch. . . Am Brake Shoe. Am Can. . Am Can pf. Am Car & Fay.. Am Car & F pf.. Am Chicle Co. .. Am Cotton Ol AmCotton Oil pt. Am Druggis Am Internatl... Am La France. . Am Linsced Am Linseed pt.. Am Locomotive. Am Metals. Am Radlator. .. Amy Roll Mill pf. Am Safe Razor. . Am Ship & Com. Am Smelting. .. Am Steel Fdy... Am Steel Fdy pt Am Sugar...... Am Sumatra. ... Am Tel & Teleg. Am Tobacco. ... Am Tobacco (B) Am Water Wks. AmW Wk 6% pf Am Woolen.... Am Writ Prpf.. Am Zinc & Lead. Am Zinc&Ld pf. Anaconda Ann Arhor Assets Realizn. . Asso Dry Goods. Atchison. Atchison pf. Atlan Bir & Atl. Atlan Cst Line.. Atlantic Gulf. Atlantic Ref. Atlas Tack. Austin Nichols. . Auto Knitter. .. Baldwin Loco Balto & Ohio. ... Balto & Ohio pf. Barnesdall (A). Barncsdall (B). Bayuk Bros.... Beechnut Pack. Beth Steel...... Beth Steel (B).. Beth Stl 7% (n) . Br Em Stl 1st pf | Br Em Stl 2d pt. Bklyn Edison | Bklyn Rap Tran | BKlvn R Tr ctfs. | Buff Reh & Pitts. { Buff R & Pittspf i Burrs Bros (B). Burns Bros pf Butte Copper. .. Butte&Superior Butterick California Pack. Calif Petrol.... Calif Petrol pf.. Callahan Zinc. . Canad'n Pacific. Case Plow Wks. Case Threshing. Case (J 1) pf.... Central Leather Central Leath pt CentRROf N J. Cerre de Pasco. . Chandler Motor. Chesap & Ohio. . Ches & Opfwi. Chi & Alton..... Chi & Alton pf.. Chi & EastIll... Chi & East Il pt Chi Great West. Chi Mil & StP.. ChiMil&StPpt. Chi & Northwn. Chi Pheu Tool . Chi RI& Pacific ChiRI & P71%D? Chile Copper- ... 1 Chino Copper. .. {ccc&stLouis | Cluett Peabody. Coca-Cola. E Colo Fuel. Columbia Columb'a Graph i Com Solvents A. Comp Tabulator Conley Tin Foil. Consol Gas new. Cons Textle. ... ContCan....... Cont Insurance. Continental Mot Corn Products. . Cosden & Co. ... Crucible Steel. . Cuban-Am Sug. Cub Am Sug pf.. Cub Cane Sugar. Cuba Cane S pf. Cuban Dom'ican. Cuban Dom Bt... Davidson Chem. Detroit Edidon. . Dome Min Dupont (EI). Eastman Kodak Elec Stor Bat... Elk Horn Coal.. Endicott-Jahn.. | Endicott-Jno pt. Erie Erle FamousPlayers. | Fisher Body. ... Fisher Body rts.. Fisher B of O pf Fisk Rubber.... Fleishman . Freeport T Gen Asphalt.... Gen Asphalt pf. Gen Cigar...... Gen Blec'ric. Gen Motors. ... Gen Mot 6% deb. Gimbel Bros. ... Goldwin Corp.. Goodricn. : Goodrich p! Goody'r pr pf wi. Granby Consol Gt Northern pf.. Great Nor Ore.. Greene-Cananea Guantanamo Su. Gulf Mo & Nor... Hartman Corp.. Hendeeo Mg ‘Household Prod Houston Oil.... ‘Hudson Motors. Hupp Motor: Hydraulic Steel. Hlinois Central. Indiahom: Indian Re! Inspiration. Interboro Met. Interborough pf Interbor Rap Tr. Int Ceme! InCombustion Int & Grt North. Int Mer Marine. Int M Marine pf. 1ot Nickel B 1Intl Paper..... int Shoe. . Intertype Corp. Invincible Oil. Kansas City Sou Kansas & Gulf. . Kayser (Julius). Kelly-Spr Tir Kennecott. Keystone Tire. . Gult 5t Steel. ... 1 Open. High. Low. Close. 1“9“ l‘; 18% 1 90% 90% 46% 46% 55% 55 % 82% 82% 102% 101% 111% 111% 183% 183 119% 119% 8 8 16 16% 104% 103% 89% 89% 2% 2% 4 1217 121% 14235 141 56% 55% 607 60% 34u 82 21% 20 57 574 94y “04le 67%® 674 24% 24% 113% 112% % 6% 6% 6% 64 64 89 89 38 3T% 107 107 10% 10 26% 85% 19% 19% 24% 841 102% 100% 105% 105 1% 10% 149% 148% i 3% 3% 42 4l 6% 6% 3% 103% 103% 2% 2% 31% 89% 89% 3 69 6% T4% 30 30 111% 110% % 2% 2% 36% 856% 26% 26%. 119 118% 126% 126% 107% 107% 43% 42% 119 118 112 112 66% 65% 16% 114% 114% 13% 12% 20% 20% 88% 85% Fiftn AvBusw 1. g 20% 19% 51 50% Gt West Su pf.. 1 19 19 103% 101% 90% 90% 838% 87% 21 20% 38K 87% 0% 68% 31 80% 28% 28% 4% 4% 116% 116% 18 1 Kresge (SS5)... LE & Wntfs.. Lee T & Rubber. Lehigh Valley. . Lig & Myers pf. Lima Locomo. .. Mackay Cos pf. . Macy Co.. ot T 3, For Revised Close of Stock Market see 5:30 Edition of The Evening Star. Open. High. Low. Close. Macy Copf..... 1 Magma Copper. Mallison & Co. Manat! Sugar. Manhat El Sup. Man El inv guar, Market St Ry Market St Ry 2d Market St prior. Marland Oll.... Martin-Parry. Mathison Alkill. Maxwell (A). Maxwell (B). May Dept Stores McIntyre Porcu. Mexlcan Pete. .. Mex Seaboard Mex Sbd ctfs. Miam$ Copper. . Middle St Oll. Montana Power. Montgom'y W'rd Moon Motors. Mother Lode. Nash Motors atl Acme at] Blscu atl Condult. .. Natl Enameling Natl Enamel pf. 1 atl Lead. atl Ry of M 2d. Nat Surety Co. . Nevada Copper. N Or Tex & Mex. N Y Alr Brake. . N Y AlrBrk (A) N Y Central.... NYNH & Hartfd. Norfolk & West. North American North Amer w1.. Nor'th Pacific. Oklahoma Prod. OrpheumCircult Otis Elevator. Otis Steel . Otis Steel pf. Owens Bottl, Pacific Develop. Pacific Gas & El Facific Ofl Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Panhandle Parrish & Bing. Penn Seahd Stl. Pennsylvania... People's Gas. Peorla & East Pere Marquette. Philadelphia Co. Philip Morris. ... Phillips Pete. .. Pierce-Atrow. . Plerce-Arrow pf Plerce-Arrow pri Plerce Oll...... Pitts Coal Pitts & W Va... Pond Creek Coal Postum Cereal.. Pressed Stl Car. Froducers& Ref Pub ServofNJ. 1 Pub Serv pf Pullman C Punta Alegre... Pure Oll........ Raiflway Stl Spr. Ray Con Copper. Reading. Reading 2 Rels Robert Remington. Replogle Steel.. Rep Ir & Steel.. Rep Ir & Stl pf.. Reynolds Spring Rey Tobac (B).. Royal Dutch.... St Joseph Lead.. St L & San Sran St L Southwn. .. St L Southwn pf San Cecilia Sug. Savage Arms. .. Seaboard Air L. Seabosrd A L pt Sears Roebuck. . Sears Roebk pf. Seneca. Copper. . Shattuck-Ariz. . Shell Union. Simms Petrol Simmons. . Sinclair Oil. Sloss-Sheffield. Sloes-Sheff pf. So Porto R S pf. Southern RWY.. Southern Ry pt. Spicer Mg Co St Oil of Calif St Oil of Calif rts StOilof NJ wi. StOilof NJ pf.. Steel & Tube pf. Sterling Prod... Stew’t-Warner. Stromberg Carb Studebaker...... Submarine Boat Superior Ofl. ... Spoerior Steel. . Tenn Copper. ... Texas Company. Tex Gf Sulphur. Texas & Pacific. Timken Bearing Tobacco Prod. .. Tobaoco Prod'A. ‘Tobacco Prod pf. Trans Contl Oil. Twin CR Tran.. Union Bag & P. Union Oll. Union Pac Union Pacific pf. Un Tank Cr pf.. Un Alloy Steel. . United Drug. United Fruit. United Ry Inv.. Utd Ry Inv pf.. Unit Retall Strs. U 8 Cast Ir Pipe. USCastIrPpf. U S Food Prod. . S Hoffman Mcl Utah Securities. Vanadium Corp. Waldorf System. ‘Web & Heilbrn. ‘Wells-Far Exp. Wi ‘Western Union. Westhse El & M Wheeling & LE ‘Wheel & L E pt. White Eagle Ot} 4% 21% 10:% 199% 199% 324 324 3% 314 67% 87% ek M6y 2% 18 20 204 8% 8% 57% 5T% 144 144 84% 86% 68 - 68 68% 69% 115 116 37 387 35 7 88% 69% T1 59% 62 42% 42% 17 17 421 42% 8% 63% 32% 61% 58% S 12% 12% 51% 62 62% BORD QUDTATINS AE IRERULAR New Method of Quoting U.'S." Government Issues Put Into Effect—Rails Lead. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 22.—Strength in the bond market today was confined to the speculative rails, especially the St. Paul and, Misouri, Kansas and aty” securities will be avallable either Tuesday or WWedne: day of next week with the new ad- justment mortgage 58 bearing the April 1, 1923, coupon and paying full 5 per cent interest for 1922. The Mis- sourl, Kansas and Texas system will show for last year all charges covered as well as the preferred dividend and a small amount for the common stock. January earnings were not 8o favorable, but there i8 no reason to belleve that bond interest will not be earned with ample margin. Strength in St. Pauls. The strength In the St. Paul issues was even more noticeable. All the junior bonds were up. with the 48 of 1925 making the largest gain, Op- timistic statements as to the recovery of the St. Paul continued. St. Louis- San Francisco adjustments and the prior. lien “B" 5s of the same road were also higher. Notwithstanding the strength in speculative securities there was no important advances in investment issues. In fact, with the exception of libertys the trend was distinetly lower. Such very high-gsade bondp as New York Central mortgage, 3%s and Lake Shore 48 of 1931 were offer- ed at concessions. New York Central Gs, Northern Pacific 55 and Great Northern 5%s all declined. First- grade utility such as New York Gas Light and Power 5s met the same treatment. Liberties Little Changes. There was very little change in Ilbertys, A new method of quoting sales wentinto effect toddy, whereby fluctuations are confined to one thirty second of 1 per cent. Hitherto the mjnimum variation was 2 cents on $100, this method having been in- troduced during the war at the re- quest of the Treasury Department, in order to provide a close market. Foreign bonds held their ground fairly well for the most part. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ATLANTA, March 22.—Shoe sales this month have been heavier in the southwest than for many years. One wholesale caler has booked a big order for export to Mexico. HOUSTON, March 22.—Much of the young cotton of southwest Texas es- caped damage from the recent freeze, but in this immediate vicinity all tender vegetation was killed and re- planting ef truck gardens will be necessary. The strawberry crop was set back several weeks and cattle suffered severely. - NEW ORLEANS, La., March 22— The recent storm has reduced the strawberry crop of Tangipahoa parish one of the largest berry centers, by 30 per cent. It will be “two or three weeks before shipments again are go- ing forward in good volume. CHROME, N. J., March 22.—The cop- er refinery of the American Smelt- ng and Refining Company here is running at capacity today and is pro- ducing refined, copper at the rate of 240,000,000 pounds a year. KANSAS CITY, March 22.—A gaso- line rate war ia ih progress here to- day between the White Eagle Oil Company, the Standard Oil Company and the Benzo Gas & Motor Fuel Company. Dealers predicted today that still further cuts would be made although reductions of 1 to 2 cents have already gone into effect. CHICAGO, March 22 —Easter retal buying has been little affected by the bad weather here and millinery and dress goods novelties are moving well today. Wholesale fextiles show a steady volume of small spot orders with forward business 15 per cent ahead of last vear. NEW ORLEANS, March 22.—Orders to the Southern Pine lumber mills which have been above normal for months seem to have passed the peak and are declining slightly today. Mills, however, are still far behind in deliveries and the southern pine man- ufacturers have appealed for assist- ance in securing better car service to the Interstate Commerce Commission. PITTSBURGH, March 22.—Demand for private mail boxes has exceeded supply, owing to an order from the postmaster requiring such receptables at all homes. The postmaster ex- tended the time limit several times but there are still 300 homes without boxes today. PORTLAND, Ore., March 22—The storms In the south and southwes which delayed the potato and oniol crops of those sections, have bene- fited the movement of the potatoe and onions of the northwest, which have been Inactive since last fall. ST. PAUL, March 22—Plans for a new $100,000 reatil grocery and pre vision store to serve the new in- dustrial district about the Ford fac- tory were made public today. PHILADEPHIA, March 22—Manu- facturers of full-fashioned hosiery have raised a fund of $1,500,000, which will be expended in the next three years in advertising their prod- uct. About 80 per cenj of the manu- facturers of the country have joined the movement. . PITTSBURGH, Pa., March 22.—As a result of car shortage, plans of steel companies for transportation of their products by water have been en- larged. The Carnegie Steel Company has ordered another steamboat and fleet of barges into operation. The Jones & Laughlin Company now has a tow of 9,000 tons of steel en route southward, and United . States Steel subsidiaries 'has a shipment of 9,500 tons on the water. MOTORMAN NOW DIRECTOR. PHILADELPHIA, March 23.—A motorman has been elected a director of the Philadelphia Rapld Transit compang, which controls virtually all the street car lines in this city. He is Ralph R. Nyman. He is president of th¢ Co-operative Welfare Assocla: tion of the Employees and by virtue of this position was elected to the directorate. The welfare assoclation owns considerable stock in the com- pany. ‘NEW YORK EGG PRICES. NEW YORK, March 22.—FEggs i receipts, 42,329 chses: fresh gathered, extra firsts, 27%a30; do, firsts, 25a29; state and nearby hennery brown: ‘extras, Pacific coast whites, extras, 38 extra firsts, 34%a36%. WUl's-Overldpf 52% B2% 62% 69% 69% 52% Worthington(B) 69% 69% - High Low, Last. CallMoney..... 6 5 6 HOURLY SALES OF STOCKS. esee 828800 13m. [ 2w vorr BONDS 5 sz W YOR Recelved by Private Wire Direct te The Star Ofiice, For Revised Close of Bond Market s2e 5:30 Edition of The Evening Star, Notice—Beginning today transactions in United States bonds will be printed in thirty-seconds instead of decimal (Sales are in $1,000.) UNITED STATES BONDS. Bales. High. Low. Olose. LAb 3%, 417 1016 1011 1011, Lib 1st 58 9724 9714 9714 184 9718 9712 9714 688 9810 986 986 Lib4th 4%s.. 692 9724 9721 9721 Vietory 4% 3371001 100 100 US4%s1962., 160 99 9830 9830 FOREIGN. Canada 5% s 1929, Canada 5» 1952. 2 LA A e e e I, S Chinese Gov Ry Christiania 8s Copenhagen 5% Cubab%swi. Cszechoslovakia 8 Denmark 8 92 Dutch East I 6s '62124 FramericunID 7% 20 French Govt 8 49 French Govt 7%s. 121 Halti 6s ctfs . 18 Holland-Am s f 6s. 18 Japanese 1st4l%s. 16 Japanese 2d 4%s.. 15 Japanese 4 1 Jergen UM 6s°47. . Lyons 6s. Marsellles 6s. 11 20 Montevideo Netherland Norway 8s. Norway 6s ctfs. Paris-Ly's-Med 6: Prague 7%s. . Queensland 7s. Queensland 6s. .. . Rio de Jan 8s 1946, Rio de Jan 85 1947 Rio Gr Do Sul 8 Sao Paulo.State. 83 Selne, Dept of, 7i Serbs Crots Slov Solssons Sweden 6s SwissConfed sf8; Toklo 5 Ud King'm 6148 °2! Ud King'm %3 '3 Uruguay $: . Zurich 8s z 118% T3% 115% 103% 1 104% 12 112 MISCELLANEOUS. Am Agr Chem 7%s 13 103% 1 Am Cotton Oif 5s.. 7 AmSmelt&R 1xt5s. 8 Am Sugaf Ref 6s.. 17 AmT& Pev 6s. 3 Am T & T cl tr 5 AmT& Tecltris. Anaconda cv db 7 Anaconda 1st 6s. Armour & Co 4%s. 17 Atlantic Refin 5s.. 6 Bell Tele Pabsrcts 43 Bell Tele Pa 7s. 61 Beth'm Stl s f 6. Brier H St 1st 5%s. Bklyn Edison 7s D. Bklyn Ed gen bs.. Bush T Bldg 6s '60. Central Leather §s Cerro de Pasco 8s. Chile Copper 6s. . 08% 67% Du Pont de N 7% Duquesne Lt 71¢s. Duquesne Light 6s 3 E Cuba.Sug T%s.. 40 Empire F&G 7%e. "37 Fisk Rubber 8s... Gen Refract'es 6s Goodr'h (BF) 6% Goodyear Tr 8s Goodyear Tr 8s°41. 25 Humble O&R 5%s. Indiana Steel bs Int Mer Marine 6s. Int Paperist5sA. 8 Int Paper 1st 5s B. 25 Kelly-Sp'gfield 8s. 11 Lackaw'a S58°60.. 8 Liggett & Myers 73 9 Liggett& Myers5s 7 Lorillard (P) 7s 1 Lorillard (P) bs 2 Magma Cop cv 7s.. 3 Manati Sur sf T%s 16 Marland Oil 7%s.. 2 Mardand O 7%s w.. 104 Marland Oil 8s w.. 41 Mexican Petrol 8y, 6 Mich St Tel 1stbs. 2 Midvale Steel 5s... 2 Montana Power 5. 5 New Eng Tel 5s... 1 NY Edison 1st 6%s 2 NYGELH&PGs. 11 NY Tel6s'dl..... 1: PacificGas & Fl5s 1 PacT&T 5s'52 5 Packard Motor 8s. PhilaCoref 6s A. So Por Rico Sug 8t Oil of Calif 7s. Toledo Ed'n 1st 7s. Union Bag & P 6s 96% SHORT-TERM SECURITIES. « (Quotations furnished by Redmond & Co.) -Noon. Aluminum Co. of Amer. Ts 1925. 108 f Ame 938 American Bugar 6s 1937. 02 American Tel. & Tel. 6s 1924... American Tel. & Tel. 6s 1925... 11¢ Anaconda Copper 8s_ 1029, Anaconda Copper Ts 1929. 1 Anglo-American 0il T i035. . Armour & Co. bt Bell Tel. of Cai Bethlehem Steel Can T. & R. 85 rthern 7s 1936, Hocking Valley 8s 1924. Humble Oll 5%4s 1832.. ansas City Term. 6s 1923.. Kennecott Coppet 7s 1980, Libby, MeNell & Libby 7s 1981 M., Bt P & 8. 8. M. 6%s 1 P 2. 7o iu30os, 1 enna. . 8t. Paul Dnion Depot 5 1623 Bears, Roebuck & Co. Ts 1928. Standard Oil of Calif. ster Oll 649 185 CHICAGO, March 22.—Butter low- er; creamery extras, 51%; standards, 49%; extra firsts 49 H 48%a49; seconds, 47ad8. Eggs lower. receipts, 27,845 cases; firsts, 23; ordi- nary firsts, 21a32: miscellaneous, 33 235.. Poultry -alive, - higher;- fowls, springs, 31; rooaters, 0 3 0 o b RAILROADS. ‘Bales. Hig) 621 85% 8% 8 84 84 78% 82% 94% 995 80 81% 93% 62% Ga%l Low. Close. | 91% 92% 87% 114% 111% ks Central Pacific 4 Ches & Ohfo cv & Ches & O cv 4%s. . Ches& O gn 4% Chi & Alton 3s. Chi & Alton 8 Chi M&St P 4s '26. Chi M&S P ov 4%, Chi M&St P 48’34 CM&StPgnals Chi & NW 634s. ..+ Chi & N'W 7s. Chi Rys 5 n Sta 4%y, Chi Un Sta 53/3,, 3 Chi & W Ind cn 45. CCCASt Lt 65 A, CCC & StL 435s Cleve Term 5% Colo & Sou 4% CubaRRSs...... Del & Hudson 5%s D&RG 1st rt 5 Det United 4%4s. .. Erie 1st con 4s. ... Erfe con ext 7s Erle gen 4s. Erfo conv 45 D Gr Trunk sf de Grand Trunk 7. .. Gr North gen 7s. Gr North gen 5%s Havana ERL&P S5 51% 103% 118% 3 111 Central ret 4: 111 Central 5%s. Int Rap Tran 6s Int R Transit 7s Int & G Nor aj 6s. . Towa Central rf 4s. Towa Cent 1st 5s. .. Kan City Ft S4s.. K City 83 Kan City Sou bs. .. Kan City Term 4s. Lake Shore 4s Lake Shore 4331, Lehigh Valley 6 Louis & N un ds. 69% 1% 47 M&StLrfex5s.. M & St L 1st rf 4s. New Or Term 4s NOTex &M in bs. New Haven 7s NY W& Bos4k%s. Korthern Pac 3s. North'n Pacri 6s. orthern Pac 5s ret Ore & Calif 1st 5s.. Ore Shott L ref 4s. Ore-Wash 1st rf 4s Pennsyl gen 5s. Pennsyl gen 4% Pennsyl 6%s. Pennsyl gold 7s. Pennsyl con 4 5 StLIM&S4s'29. 31 StL&SFpidsA. 26 StL&SFprin 5 StL&SF inc6s T StL& SF adj 6s. . 140 StL&SFplesC. StLSWistds.... 3 StP & KCShL4%s. ~7 Seab’d ALref4s.. 35 Seab'd ALadjbs.. 37 Seab'd A L con 6s.. 8 Sou Pacific cv 4s. Sou Pacific re: 4s. Sou Pacific clt 4s, . Southern Ry 1st 58 Southern Ry gn 4: Southern Ry 6% ‘Third Ave ref 4; Third Ave adj Union Pac 1st rf 4s Union Pac cv 4s. Union Paccv 68 ‘Western Md 4. ‘Western Pacific bs. ‘West Shore 1st 4s. ‘Wheel & L E cn 4s. 58% Whel &LE rf 43s. 53 TOTAL SALES {Par Value): 1l1a.m.. 3792000 12 noon 6453 000 1p.m.. 8073000 2p.m.. 9533000 WAGES LURING WORKERS. Canadians Rushing to Industrial Centers in Michigan. DETROIT, Mich.,, March 22—High wages in Michigan’ industrial centers are luring hundreds of Canadians who enter _this country chiefly through thé Detroit port, according to local immigration officials. An average of eighty families a day are being admitted, it was estimated. 9% 'FINANCIAT Grain, Produce and, Live Stock WHOLESALE MARKET. Warm weather has started re- newed actlvity on part of hens to make egg-laying records and put the country roads in condition for haulers to reach market with their supplies. “Two cents off,” was this morn- ing’s report, meaning the price had dropped that amount. e ‘Butter market conditions were dif- ferent. Reports told of a firmer arket and increase of 1 cent a und in the price. Rellef from high- er_butter prices is not in sight. Eggs—Strictly fresh, selected, can- dled, per dozen, 26; average receipts, 24; southern, 24. Live poultry—Roosters, per Ib., 1 turkeys, per b., 30a40; spring chickens, per 1b. 8a45; keats, young, each, 6f fowls, each, 30. . Dressed poultry—Fresh-killed spring chickens, per lb., 45a50; hens, per Ilb., 2a34; roosters, per I 19a20; turkeys, per Ib., 35a4D; keats, young, each, 70a80, Live stock—Calve: choice, per 1b., 12%: medium, per Ib., 10a12; thin, per , 8a9. Lambs, choice, per 1b., 13. Live x;lx!, 3.0025.00 each; Mve hogs, per lb., Green fruits—Apples, per bbl., 2.00a 6.50. California oranges, per crate, 5.50 26.00; Florida, 4.00a5.00. Lemons, per box, ' 4.50a5.25. Grapefruit, 3.50a4.25. Tangerines, 4.00a5.50. 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,’ §50a2.50; Romalne let: tuce,” per crate, 1.50a2.00; Iceburg let- tuce, per crate, 3.50a3.75. Cabbage, northern, 3.00a4.00 per 100 pounds; near- by cabbage, per bbl., 1.50a2.50; southern, 3.25a3.50 per basket. Eggplants, per crate, 2,50a5.00. Tomatoes, per box, Florida, 1.50a4.00. Beans, 2.00a4.00 per basket.” Peas, 3.00a5.00 per basket. Pep- pers, per crate, Florida, 2.50a3.50. Kale, 23.00. Celery, per crate, Brussels sprouts, Florida lima beans, per basket. GRAIN AND PROVISIONS. 150-pound sacks, 1.00a2.] barrel, 1:00a175; bushel, 50a 65; yams, barrel, 1.25a2.50; bushel, 50a 65 beans, bushel, 2.50a450; beets, hundred, 5.00a7.00; brusseis sprouts, ; cabbage, hamper, 2.75a 50a60; caulifiow- 0; ‘celery,’ crate, 1.75 a2.75; 5.0028.00; eggpiants, crate horserad- ish, bushel, 100 pounds, 1.50a plants, hundred, 10.00a20. bushel, 0 45 a3.00; spinach, squash, crate, 3.00a tomatoes, crate, 1.50a3.50; tur- nips, basket, 50a60. Apples, packed, barrel, 3.00a6.00; bushel, 1.00al oose, 100 pounds, 1.50a2.00; “basket, 50a75; cranberries, 8.00a12.00; grapefruit, box, oranges, box, 3.75a4.50 strawberries, quart, 20a40; tangerines, half strap, 3.0024.00. barrel, No. 2 red spot, 3 red winter, spot, no quo. 1 red winter, garlicky, ed winter, garlicky, no arch, 1.36%. new, 4.60 per bar- 8.35 per bushel tations; track corn, better, 89 and 90 per bushel. Sales—1,170 bushels of at 86; 1,100 bushels of No. 2 at 86 per bushel. Oats—White, No. 2, 54%a55 per bushel; No. 3, 53%a54. Rye—-Nearby, 85a90 per bushel; No. 2, western _export, spot, 92% per bushe! 3, no quotations. Hay—Receipts, 23 tons; top grade timothy and light clover, mixed, in moderate demand at a range of 17.00 to 21.00 per ton, with no surplus of really desirable hay. Straw—No. 1 tangled rye, 15.00a 16.00; No 1 wheat, 12.00a13.50; No. 1 oat, nominal, 14.00a15.00. DAIRY PRODUCTS. BALTIMOR March 22 (Spe- cial).—Live poultry—Turkeys, pound, 35a41; old, toms, 30; poor and crooked breasts, 25; young chickens, 33a42; rough stags and leghorns, 25a30; old hens, 29; small_and leghorns, 27a28 old roosters, 16al7; ducks, 28a32 small and poor, 24a25; pigeons, pair, -85a40; guinea fowl, each, 35a60. Dressed poultry—Turkeys, 35a42 old tomss 30; poor and crooked young chickens, 35; old 30a32; ducks, yellow 40a42; s store-packed, 38; dairy prints, 37a405 process butter, 43a44. TODAY’S CHICAGO PRICES. CHICAGO. March 22— Nothwith- standing initial downturns, Wwheat scored fresh gains in price today dur- ing the early dealings. Weakness at the start was in sympathy with lower quotations at Liverpool. ~Offerings here, however, were readily absorbed and with Indications of buying on the part of foreigners, that market soon rallied. Opening prices, which var- jed from unchanged figures to % low- er; with May, 121% to 121% and July, 116% to 116%, were followed by a rise all around to well above yester- day’s, finish. rn and oats paralleled the action of wheat. After opening unchanged to % lower, May, (4% to 74%. the corn market made moderate general gains. Oats started unchanged to ¥%a¥% lower, May 45%. Later all deliveries showed at advance. Lower gquota- tions on hogs weakened the provision market. September. RN— Tuly. g September. LARD— Most of the men are mechanics from Toronto, Hamilton and other Ontario ties.. PARDON CASE HEARD. HARRISBURG, Pa,, March 22.—De- cision «on the application for pardon of Lakin C. Taylor, former president of the Pittsburgh Tin Plate and Steel gompany, serving a senterice of four- teen months to two years for con- spiraty to defraud in_ the sale of stock, . was withheld by the state Board of pardons last night. Twenty- five cases were argued before the board and it was stated that no de- cislons would be announced before next Monday. = ALL DIRECTORS RE-ELECTED. BALTIMORE, March 22.—Stock- holders of Western Maryland rallway held their annual meeting yesterday and re-elected all members of the board of directors. A summary of the financial results of gperations for the year, 1922, has alréady been pub- Mshed and stockholders agproved the form for the full annual repogt, which will be distributed shortly. ' The di- rectors will meet for reorganisftion within the next few days. RAISE TO COST $4,000,000. BOSTON, March %.—Announcement of the wage Increase of 123 per cent to all the operatives of the American Woolen company, made by President | clipped ewes, first action’ by any of the principal &roups ‘the textfle industry t meet the movement smong 205 - moTe DaYe s ited Stats Cl CAGO, March 22.—Unite ates DA of AgHouiture—Hogs, re: ceipts, 53.000 heads; active, 15 to 25 Tower: bulk, desirable, 160 to pound averages, 8.20a8.30; top, 8.35: 225 to 850 pound butohers, 7.90 ag.1l packing sows, mostly around 7.26a7.35; common to -medium pigs. 6.50a7.25: heavy weight hogs, 7.85: 8.05: medlumi hsiona .21 light, 8.15 light 1 . a8.36; ligl 8] i mooth, 7.60; o 7.00a7.35; killing plgs, beef 15,000 head; choice steers sold sales, 8.0029.00; several cattle, considerably + below .00; beef cows and heifers, moder- ately active; scarce, 156 to 25 off; Detter grades beef cows and beef heifers showing most decline: bulls weak to 16 lower; heavy beef ‘bulls, oft “‘more in spots; veal calves to packers, unevenly = lower; yargely 25 to 50 off; bulk- desirable veal calves to packers ‘early, 11.50; few, shippers handpicking, up to bulk desirable bologna bulls, 0; canners, mostly 3.50a 3.65; s, 3.8584.256 mostly. Sheep—Receipts, 12,000 head: open- ing_very slow; few early sales weak to 25 lower; practically nothing done lambs; clipped lambs mostly, 11.75a12.40; fall shorn, up to two. loads 115-pound wooled 9.00: ‘two loads '110-pound O — The Texas State Faderation of Labor has decided to maintain per- manent headquarters in Dallas. packing | Tuc TOBACCO EXPORTS ROWING STEADLY } D;)mestic Consumption Also Shows Increase, Asserts Company Official. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, March 22.—Exports of tobacco and clgarettes are growihg steadily in spite of competition from Turkish, Macedonian, Balkan and Afri- can tobaccos, F. A. De Pills, vice presi- dent of Patterson Brothers, large in- dependent tobacco manufacturers, sald today. He added that domestic con- sumptlon of tobacco, especially clgar- ettes, had shown a remarkable increase this year. My own experlence,” said De Pilis, “assoclated as I have been with a large export organization which has furnished tobacco to the Scandinavian countr central Europe, the territory of the foi mer Russian empire, Holland and Swit- zerland, has shown that there is an ever-increasing consumption. Exports of cigarettes made from American tobacco in the last year amount to 11,000,000,000 cigarettes, against 8,000,000,000 the year previous Exports of smoking tobacco Is also on the increase, but not at o great a ratio.” Revenue Taxes Increas:. Declaring that tobacco sales in America probably would exceed all records this year, the manufacturer asserted that in the last six months the government had collected $10.500. 000 more in taxes on tobacco, ciga ettes and cigars than in the corre- sponding period of 1921-2 It is a known fact,” he added, “that smoking increases as business gets better and this increase is a sign of general prosperity. “The importance of tobacco plant- ing to the southern states cannot bw over-estimated. From this industry many states derive their greatest in- come. “If there were to be any restrictions upon tobacco consumption in the United States they would meet wit the strongest opposition of the south- ern planters, who have united und the name of the Tobacco Plantere operative Association.” Competition in foreign markets. De Pilis indicated, wou!d be heightened by action of the French government in starting tobacco planting orth Africa, the British government's ac- tivities in South Africa and the oper ations of the Hungarian governmer In soil and under climatic condition which closely resemble those of the Virginia old belt. Mill Production Assured. It is anticipated that other textile manufacturers will follow the lead of the American Woolen Company, which has announced an increase to all op- eratives of 121 per cent. More sig- nificant than the increase, however, was_the statement that prices for the goods of the company had been fixe for fall on a basis which would as- sure business enough to run the mills on practieally a capacity basls, witl: steady work for all. As the fall prices of the big woolen company a nominal increase over 1 ircrease in goods prices is expected. aly well_protected, ordered heavil, when the fall lines were opened. Cancellation of any ap- preciable portion of this business, therefore, is not expected. The -violent fluctuations in Pigzly Wiggly stores stock on the New York Stock Exchange and over the counter has had absolutely no effect on the general business of the chain stores and mail-order houses of the country. These companies in nearly every case report that their February and March sales have been well above the average of 1922, which was a banner year for most of them. Rush of Foreign Orders. NEW_ORLEANS, March 22 (Spe- cial). —Exporters here reported to- day that orders for American goods trom Central and South America are coming in at a tremendously in- creased rate. The business of one exporting firm has been larger this month than at any time in two years. Veteran Business Men Meet. PHILADELPHIA, March 22 (Spe- cial).—Seventy-two business firms of this city were represented today at a luncheon held by the Philadelphia Chamber of Commerce, at which only firms which had been in continuous existence for 100 years or more were eligible for invitations. Sixteen firms were added to the list in the year. last Pactfic Trade Booming. ° SAN FRANCISCO, March 22 (Spe cial)..—American shipping nterests with Shipping Board sels und. lease are marking time at present and _closely watching for develop- ments that v follow the defeat of the ship subsidy bill’ by Congress American-operated ships on the P; cific in the last "‘three months have shown more profitable returns than British or Japanese lines. The latest development in_ the situation is the announcement that a new Chinese- owned line will operate between the orient and Pacific coast ports. (Copyright, 1023:) BAR SILVER QUOTATIONS. LONDON, March 22—Bar silver, 323% pence per ounce; money, 2% per cent; discount rates, short and three- month bills. 21§ per cent. NEW YORK, March 22 —Foreign bar silver, 663%: Mexican dollars, 513%. DIVIDENDS. Stock of rd. Cities Service Co Cream, Pkg. M. P53 faze Duluth E Fidel. Intl. Fifth' Ave. Fed, Ac. B et 200 | & BlaaaanE 2 OFR R s R EfEy Shae 288 a5 i Yellow Cab Co. ab . 20 May 20 June March 23— Allis Chalthers Mfg. pf.. q.. Am. Brake Shoe & Foundry new, q Am, Brake 8hoe & Foundry new pf. q American Surety, q American Surety’ ext Computing Tab. International Harvester, q. Kennecott Copper, H. R. Mallison pf., q Magnolia Petrof Marland Ofl, Motropolitan New York, Lack. R. R., q Bhell Union Oil, q. 8t. Louis Southwestern pf., d. United Alloy Steel Co Wilson, Co pE.. 4. ones Bros. Beading Co. 2n Bloss, Bhefield Steel 28—