Evening Star Newspaper, March 26, 1923, Page 24

2 STOCKS GOLOWER | IN TRADING TODAY Rally at Opening Proves Short Lived—Rise in Call Money Bear Factor. BY STUART P. Special Dispatch to The Star. NEW YORK, March went generally higher in the first hour of tod ‘s trading, but the re- covery was not sustained very long. Operators the short side when they found no further liquidation of importance coming in over Sund were ready to take profits, and this repurchasing was responsible for the early recovery in the equipment share udebaker and other leaders. e i "etroleum ran up sharp- 1y, anticipating developments at the R L0 ine diay. tae street was looking for a split up of the pres- ent shares on a basls of four naw for one qld, but it was much in doubt regarding the dividend on the new. A $2 dividend on the new would mean SN on tne old, and this much, it was felt, had been discounted by the advance across 102, Railway shares were again indifferent to the prospect of a series of very favorable trafic statements for February, due within the next few day Coppers and Steels Sluggish. Coppers were sluggish and so were the stee Among the sugars Punta Alegre the best account of it- self. Cuban-American rallied a point at one time It was evident that the rket for the sugar shares was not over the & estigation charge tha yrices of sugar been unjustifiably manipulated. | S| r stocks were simply fol- course of the general Talk of an increased d was back of the jump in New Orleans, Texas and Mexico. Beechnut ack completely ig- nored the statement attributed to the president aturday that insiders were not buying at present prices. If th as intended to discourage opera- tions for he rise it falled rather badly Speculative Wall ways likes an o every fluctuation about the market today that a r covery lasting through the first hour or so was nipped in the bud by advance to 6 per cent in the money r and by the uncertainty of what~ the' Federal Reserve Board would do at the meeting Tuesday. This was a purely superfizial version of things. The rise in money was a reminder that funds are not as plentiful for Wall Street use as the were. But there was no sug n of an serious cu ilme of credit, least in the near future. There have been a number of occasions during the upward movement of the last Year when the money market has tightened like it did today and it has had no effect upon the stock exchange. WEST. 26.—Prices on ave lowing t market dend on street, which al- tside explanation for [ = Reaction Natural, What really happened was a fur- ther perfectly logical reaction in market where speculation for t rise had heen overdon and wh had ceased to respond to artifics stimulation of the ort that has bee going on for the last two or thre weeks. He: and there. at the out- set of the pools and professional operators attempted to rearouse the ing interest or a time prices did rally under covering purchases by traders who had sold short last week But as it ame apparent that this was v r from being a resumption of lhfl' real upward movement, ligquidation oke out a n all through the list There was a rush to sell which thiara had been even during the dcclining market of Saturday and prices fell away with considerable rapidity. Wond Market Also Weak. | Liberty bonds continued to sag, | most of them making new lows for the v The _general bond 1i Wias h in. French exchange start- in lower, but subsequently rallied above the Saturday final. At jts o.xrl\l low figure of 6.36 it compared with week's high of 6,93 the relinquishment of tw the entire recovery of night. While doubtedly ment 15 last_ w in the franc was chi etreat of an t and « - skeptic the Fr last the 1 | opinions differ widely, un- the prepo derating judg- improvement due to the overextended short in- nified no change from «m felt all along regard- b venture into the| Owenx Bottle nt New T\ | Owens Bottle reached a new high | again today for apparently a variety of causes. "The earnings of the com- pany alone seem to afford ground for the buying. for Owens is making a profit of upward of $15, according to current estimates. Moreover a banking group 1o have been buving Owens in the open market. Talk of a merger of Owens with one or perhaps two other companies also ard The stockholders' meeting of the Columbia Gas and Electric Company scheduled for April 10, when formal appro aree for one split-up of Columbia Gas shares will be glven. will probably be followed soon after by a directors’ meeting for dividend action. The present stock pays $6 snnually and it is rumored now that when the split-up actually ¢ distribution on the new be the ecuivalent of efther ifke $8 or £9 on the present capitali- zation. Rapid Afternoon Slump. When it was discovered t the rebound of the morning was largely dependent upon short covering and | that the more important operation ! for the advance was not being re- newed selling broke out again. The { decline of the afternoon was at times quite rapid. It bore heaviest against | the oils, the steels, woolen and can shares and others in which specula- tion during the last few weeks had | been particularly lively. Pacific Oil was sold persistently, a | fact that was the more significant be- | cause that stock had done so little in all ! the advance that the oil stocks had | had during the last two months. | (Copsright, 1023.) ! SHAREHOLDERS TO FORM NEW DISCOUNT COMPANY ‘Will Buy Assets of Cleveland Con- cern Now in Hands of Re- ceiver, Is Purpose. By the Associated Press. CLEVELAND, March 2. — Large shareholders in the Cleveland Dis- | count Company, now in receivership, | determined today to -incorporate in Delaware this week the Union Dis-| count Company, with fuil powers of | a mortgage conipany. Fifteen di- rectors of the new company, most of them Ohic men, were selected after an all-day meeting of fifty mem- bers of the stockholders, organiza- tion committee which ' has been working two weeks on plans for the new company. William H. Hopple { of Tiffin, said to be the largest hold- | er of common stock in the old Dis- count Company, heads the list of those who will' form the new con- cern. The directors include James L. Wwright, New Orleans, La., and Harry Bmmons, Wilmington, Del. The principal purpose of the new com- pany will be, it is understood, to buy certain assets of the old com- pany, from its receivers and that in event of reorganization of the Cleve- land Discount Company, the new or- ganization will go out of business. ‘he Union Discount Company will, it is announced, have a capitalization of $1,500,000. represented by 300,000 shares. Preliminary plans are to offer thie stock to Cleveland Dis- count Company sharcnolders. at is said; 2 FINANCIAL, T HE EVENING STAR, WASHINGTON, D. C., MONDAY, MARCH 26, 1923. NEW YORK STOCK EXCHANGE Rudvdby?dvm“nu'bhmhfioswoflu For Revised Close of Stock Mark:t sce 5:30 Edition of The Evening Star, Low. Close Adams Express. Adv Rumley . Alr Reduction Allled Chemical. Allled Chem pf.. Allls Chalmer; Am Agr Chem AmAgrChempt. Am Beet Sugar. Am Bosch. . Am Brake Shoe. AmCan........ Am Car & Fdy. . Am Cotton OIl.. AmCotton Oil pf. Am Druggist. . Am Express . Am Hide&Leath Am Ice. Am Internat’l Am Linseed. . Am Locomotive. Am Metals. .. Am Radiator. Am Sate Razor., . Am Ship & Com. Am Smelting. Am Snufr. . Am Steel Fdy... Am Steel Fdy pf Am Sugar.. Am Sumatr; Am Tel & Teleg. Am Tobacco. ... Am Tobacco (B) Am Water Wks. AmW Wk 6% pf. Am W Wk 7% p? Am Woolen..... Am Woolen pf.. Am Writ Prpt. . Anmaconda... Asso Dry Goods. Atchison. . Atchison pf. Atl Frult ctfs. Atlantic Gulf. Atlantic Gulf pt Austin Nichols. . Auto Knitter... Balto & Ohlo. Baldwin Loco. .. Barnesdall (A). Bayuk Bros. Beechnut Pack. Beth Steel (B).. Beth Stl 7% (n) . Bklyn Edison. .. Bklyn Rap Tran Bklyn R Trctfs. Brown Shoe Brown Shoe pf. . Burns Bros (A). Burns Bros (B). Butte Copper. .. Butte&Superior. Butterick. Caddo Of California Pack Calif Petrol. . Calif Petrol pf.. Callahan Zinc. . Canad'n Pacific. Central Leather Central Leath pt Cerro de Pasco. . Chandler Motor. Chi & Alton..... Chi & Alton pf.. Chesap & Ohio.. Chi & EastIll... Chi & East 11l pt Chi Great West. Chi Great W pf. ChiMIl & St P.. ChiMil&StPpf. Chi & Northwn. Chi Pheu Tool. . Chi R 1& Pacific ! Chi R I&P 6% pf Chile Copper-... Chino Copper. .. Cluett Peabody. Coca-Cola. . Colo Fuel Columbia Gas. Columb’a Graph Colum Graph pf. Com Solvents A. Comp Tabulator Cons Cigar Consol Gas E Cons Textlle. ... Cont Can.. % Continental Mot Corn Products. . Cosden & Co. ... i Crucible Steel Cuban-Am Sug. Cub Am Sug pf. Cub Cane Sugar. Cuba Cane S pf. Davidson Chem. Del & Hudson {DLack & Wst Detroit Edison. Dome Mines Dupont (E1). Eastman Kodak Elec Stor Bat. .. Endicott-John. . Erie.. 2 Erle 1st pf. FamousPlayers. FiftnAvBusw 1. Fisher B of O pf. Fisk Rubber. ... Flelshman....... Freeport Texas. Gen Asphalt.... Gen Asphalt pf. | Gen Cigar . Gen Cigar de Gen Eiec Gen Elec . Gen Motors. ... Gen Mot 6% deb. Gen Mot 7% deb. Goldwin Corp... Goodricn Goody'r pr pf wi. Granby Consol... Gray & Davi Gt Northern pt.. Great Nor Ore Greene-Cananea Gt West Su pf Guif Mo & Nor. . Gulf Mo & Norpf Guif St Steel.... Hartman Corp.. i Hayes Wheel.... Hendee Mfg. ... Household Prod.. Houston Oil. Hudson Motors. | Hupp Motors. . . Hydraulic Steel. Illinols Central. 111 Central pt. {Indiahoma Inspiration. ... IntCement..... Interbor Rap Tr. InCombustion E Int & Grt North. Int Harvester. .. Int Mer Marine. Int M Marine pf. Int Nickel. . Int Nickel pt 1ntl Paper Invincible Iron Products, Jewel Te: Jones Tea. Kansas C Sou pt Kelly-Spr Tire. . Kelsey Wheel Kennecott. . Keystone Tire.. Kresge (SS). LE& Wnetfs.. LakeErie&W pt Lee T & Rubber. Liggett & Myers. Lima Locomo. ... Loews Inc. Loft Inc. Loose-Wiles Mack Trucks Macy Co. . Mallison & Co Magma Copper. Manati Sugar. Market StRy. .. Market St Ry Market St prior. Marland Oil. Martin-Parry. Mathison Alkill. Maxwell (A). Maxwell (B).... May Dept Stores MeclIntyre Porcu. Mex Seaboard. .. Mex Sbd ctfs Middle St O11 Midvale Steel. Open. 5% 17% 68 T4% 110% 49% 824 64 43% 50% 81 98% 181% 15% High. L76% 17% 6815 T4% 110% 49% 32% 64 43% 51% 81+ 100% 181% 16% 29% 6 135 12% 108% 32 3a% 135 534 84% 8 19% 64% 145 40% 102 79 31 122% 164 1525 304 554 91 105% 111 29 60% 83 103% 895 21y 30% 24 29% 24% 541 141 338 67 Bl 67 9415 1125% 6% 75 17% [ 3% 110% 49% 31% 64 43% 49 81 96% 180 13% 29 6 135 12 106% 30% 344 1824 53% 8i% 8 18% 63% 145 39 102 78 31% 122% 152% 161% 29 55 91 103% 111 29 75 17% 68% 3% 110% 49% 31% 64 48 49 81 97% 180 18% 29 6 185 12 108% 82 341 132% 53% 84% 8 18% 63% 145 39 102 81 Minn & St (n). Min St P&S S M. Mo, K & T pf wi. Mo, K&Twl Mo Pacific. Mo Pacific pf. Montana Power. Montgom'y W'rd Moon Motors Mother Lode. Natl Biscuit w {. Natl Cloak & S. . Natl Conduit. .. Natl Enameling Natl Lead...... Nevada Copper. N Or Tex & Mex. N Y Air Brk (A) NY Alr Brake. N Y Central NYNH & Hartfd. Norfolk South. . Norfolk & West North American North Amer pf.. North Amer w 1 North Pacific Oklahoma Prod. Orpheum Circuit Otis Elevator. Otis Steel.... Otis Steel pf.. Owens Bottle. Pacific Develop. Pacific Gas & El Pacific Ofl Packard Motor. Pan-Am Pete. .. Pan-Am Pet (B) Panhandle..... Parrish & Bing. Penn Seabd Stl. People's Gas. Pere Marquette. Philadelphia Co. Philip Morris. Phillips Pete. .. Plerce-Arrow. . Pierce-Arrow pri Plerce-Arrow pf Plerce Oil = Pitts Coal Pitts & W Va. Pressed Stl Car. Froducers& Ref Pub Serv of N J. Pub Serv pf.... Puilman Co. Punta Alegre PureOll... Raliway Stl Spr Ray Con Copper KReading. Reading 1st pf. Remington..... Replogle St Rep Ir & Steel.. Rep Ir & Stl pf.. Reynolds Spring Rey Tobac (B) Royal Dutch. St Joseph Lead.. StL & Sran. St L Southwn... St L Southwn pt Savage Arms... Seaboard Alr L. Seaboard A L pt Sears Roebuck Seneca Copper. . ell Union. . | Sheil Tr & Tran. | Simms Petrol. Simmons. ... { Sinclair Oil Sinclair pf. Skelly Oil Skelly Ol (new). S0 Porto Sugar. South Pacific uthern Rwy. uthern Ry pf. picer Mfg Co.. St Oil of Calif... St Oil of Calif rts StOllot NJ wi. StOllof NJ pf.. Steel & Tube pf. Sterling Prod... Stew't-Warner. Stromberg Carb Studebaker...... Studebaker pf. . Submarine Boat Superior Ofl.... Tenn Copper. Texas Company. Tex Gf Sulphur. Texas & Pacific. Tex & P C&OIL. . Tide Water Oil. Timken Bearing Tobacco Prod. .. Tobacco Prod A. Trans Contl Oil. Union Bag & I'... Union Ofl....... Cnion Pacific. Union Pacific pt United Drug. United Fruit United Ry Inv. Utd Ry Inv pf. Unit Retail Strs. U S Cast Ir Pipe. U S Indus Alco U S Realty. . U S Rubber. U S Rub 1st pf U S Smelt & Ref U S Steel. U S Steel p! Utah Copper. UtahSecuriti Vanadium Corp. Van Raalte. . Va-Cr Chemical va-C Chem (B). Va-CarChempt. Vivadou.. Wabash....... Wabash pf (A). Waldorf System. Web & Hellbrn. Wells-Far Exp. Western Elec pf Western Md. ... Western Md 2d. Western Pacific. Western Union. Westhse 21 & M Wheeling & L E White Eagle Oil ‘White Motor... White Oll...... Wickwire. ‘Wilson Co.. Willys-Overld Will's-Overld pt Noolworth Worthington. . Wright Aero. ... Youngstn Tube. Call Money. 142 Open. 8 1% 424% 16% 17% 451 697 23% 26% 12% 4215 60 1% T0% 131% 16% 100% 48% 37 97% 19% 16 112% 111 46% 22 1% 2% 18% 1315 6914 49% 14 80% 445 15 78% (ET 4% 14 450 46Y% 91ty 40 48% 17% 65 13 70t 311 112% 125 244 18 118% 64 9% 2874 56% 4% 124 37 % 51% 213% 36 9% 4% High. 8 1% 42% 15% 17% 45% 697% 23% 21% 12% 42% 60 1% 70% 131% 161 105 48% 37 98 19% 16 1127% 11 467 104 40 107% 120 2% 20 417% 53 21% 13% 641y 21% 10% 324 42 15% 49 112% 127 25% 18 113% 641 98, 29 57 4% 123 37% % 5214 2184y 36% 9%, T4% High 6 Low. Close. 8 8 1% T1% 4% 41% 16% 16% 17% 17% 4 a4 6914 693 23% 23% 26 26 12% 12% 424 42% 69% 69% % 1% 691 69% 130% 130% 16% 16% 100% 103% 481 484 37 87 974 8714 19% 193 16 12 109% 46% 21% 6% 2% 116 100% 16 50% | of 8% 81 69% | whose 99 61% 1034 3819 105% | 120 0% 20 40% 53% 21 13 6115 20% 10% 32% 41% 14% 48 112% 127% 254 173 13 63% 95y 28% 55% 4% 123 37% 6% 50% 210 36% 9% 14% 48 112% 12% 24% 17% 13 63% 9% 28% 65 4% 12% 37 6% 50% 210 36 9% 4% T4 Low. Last, 5% 6 HOURLY SALES OF STOCKS. 11 a.m. 1pm. ees 293700 12m. « 604800 2p.m - 424 200 1040 600 SUGAR PRICES RALLY. Outside Buying Helps Futures in Today’s Transactions. NEW YORK, March 26.—The raw sugar market was unsettled early to- day. ear] Raw sugar futures were easy y under continued liquidation and trade selling, but after showing de- | clines of 6 to 7 points prices rallied sharply on covering and renewed bu: ing for outside account that the president of a large Canadian the Cuban crop at 8,500,000 tons owing to dry weather. There were no changes in refined sugar, With fine granulated listed at bank estimated 8.75 to 9.00. on_reports OIL WELLS PRODUCING. TULSA, March 26. (Speclal).—Four- teen wild cat wells in unproven ter- ritory in this state are producing oil in paying quantities today. has stimulated drilling proven territory. —_— Visible Grain Supply. NEW YORK, March 26.—The visible supply of American grains shows the following chang Wheat, increased. Corn, decreased e This in the un- Bushels. . 76,000 i 1 lthe ola fa {1owest sinc | Dn Ki | Libby, REDISCOUNT RATES CHIEF BOND TOPIC Traders Await Outcome of Reserve Board Meeting Here This Week. BY GEORGE T. HUGHES, Special Dispateh to The Btar. NEW YORK, March 26.—More in- terest was taken in the meeting at Washington of Federal Reserve Bank governors than In today's bond market. The idea persisted that some time during the week an announce- ment might be made which would throw light on the intentions of the board as to the rediscount rates. Meanwhile bonds continued heavy and dull, Liberties making new lows for the year in the case of three of 43% lssues. The tax-exempt 3%s equaled their low for the year. Trading, however, was on a small scale and while quotations were lower there was no very great amount actually sold. There were a mostly in the issue: few advances, but highly speculative B 1al attention was attracted by wideopen break in the quotation for the D. G. Dery Corporation first mortguge 7 per cent bonds of 1942. These bonds were offered at par in September last and up to Friday the low was 877% The bonds opened today at 883 and then sold down to 70, loss of over 18 points. Another bond which had a very sharp drop was American Cotton Oil debenture 5= of 1931. Closing at 643% on Saturday they had sold down more than 3 points by midday today. Foreign issues were mostly actionar; URGES HODVER T STARY COTTON PREE INURY South re- Carolina Representative ‘Wires Appeal Following Latest Market Slump. B the Associated Press GREENVILLE, S. C. March 26.— Charges that “somebody is throttling the law of supply and demand and forcing cotton prices down were made here by Representative John J. Me- suin, in a telegraphic appeal to Sec- retary Hoover of the Department of Commerce for an immediate investiga- tion of the cause of the recent decline in the price of the staple. His telegram was as follows “On behalf of southern cotton farm- ers, I request and urge investigation of the present decline of cotton prices. We believe it 48 due to bearish specu- ation, pure and simple. Cotton stocks 1865, preseit rate of con- would take 12,000,000 bales Such production impossible. Boll cut crop half; 20 per cent of gone to northern cities in Fair investigation invited and will show cotton being produced and sold at or below cost. “Why should cotton prices fall, while sugar, -, machinery and build- ing mat Somebody is throt- thing law and demand. Let us find who, and wl weevil how RISING FOOD PRICES ARE CAUSIAG ALARW Advance in Sugar Held Especially Serious as Canning Season Approaches. ANTA, March 26.—The pros- erity of the United States is in grave 7% | danger because of the rising prices food, according to Francis E. Kamper. president of the National Association of Retail Grocers, under auspices the national food show opened here today. "Rising food prices are unfortunate at this time,” he said. “We are drift- ing into an Inflationary period which will be followed by depression of cor- responding dntensity. This inflation must be checked if prosperity is to be permanent. “The advance in sugar is untimely, coming at the canning season, where it must enter into the price of can- ned goods for a year hence.” WAGE CHANGES FEARED. Cloth Market Reflects Feeling of Nervousness. Special Dispatch to The Star. NEW YORK, March 26.—The quiet tendency induced by the fact that wage controversies in New England still_are not definitely decided con- tinued in the cotton cloths market today. Standard print cloths were about unchanged, with 111 cents quoted for 64 by '60s and 12% cents for 65 by 72s. There was little do- ing in sheetings and sateens and fine combed goods were very quiet. The raw silk market showed no change in prices over the week end and the market was quiet and fairly firm. About 700 bales were traded in in Yokohama. —_— SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Noon.— Bid. Ofter. Aluminum Co. of Amer. 7s 1925. 108 108 Aluminum Co. of Amer. 7s 1933. 106% 106 American Cotton Oil 8s 1924... American Sugar 6s 1087 102 American Tel. & Tel. 6a American Tel. & Tel. 6s 1925 Anaconda Copper 8s 1929. Anaconda Copper 7s 1929...... 1 Anglo-American Oll_Tigs 1035.. Armour & Co. 78 108 2 Tell. Tel. of Ca Betlilehem Steel 7 Canadian Noi Canadian Pacific 0s 1t Central Leatlier 5s 1925, C. C.. C, & St. L. s 1029, Chicago Tel. 2 Pont Tigs 1981 Goodsear T. & R. 8a 193 Great Northern 7s 1086. Hocking Valley 6s, 192 Humble Ofl 5las 1032 Kunsas City Term, s dtt_Copper Tn 1930. McNeil & Libby 7s M. St P. & 8. 5. M. 614 1081, Morris 30. 2 & Penna. 4 s St. Paul Union: Depot Bis 1623, 8 Roebuck & Co. 7s 1928. Standard Oll of Calif. 7s 193 Tidewater Oil 6 1881 ! Tnion Western Union 6%s 1036....00 1 Weatinghouse E. & M. T 1031 —_— TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) N < Bid. Offer. 9% 00 29-82 99! 99 25-32 999-16 99 2532 101 101318 100116 Rate—Maturity June 15, 1923. September 15, 1623, P g*- Beptember 15. 1024. 4%s March 15, 1825. 4148 June 15, 1025. % W? ‘&l December 15, 1625, 9813-18 90 1.18 4 WY* 100 3 43}s September 18, #8316 Lecember s March 15, 1926. 4 ‘3- 15, 100 e W W% [~ vonx BONDS i sz Recsived by Private Wire Direct to The Star Offica. For Revised Closc of Bond Market see 5:30 Edition of The Evening Stas, (Sales are in $1,000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 101-1 means 101 1-32.) Salea. High. Low. Olose. Lib3%s..... 88 101-1 100-31 101 Lib1st43s.. 29 97-16 97-4 97-5 Lib 24 4%s... 949 97-6 97 97-1 Lib3d 4%s... 399 98-8 98 98-1 Lib 4th 4% s.. 546 97-18 97-7 97-8 Victory 4% 29 100-1 100 100-1 UB4%s1952. 137 98-31 98-26 98-28 FOREIGN. Bales. High. 102% 100 94% 99% 113% 92 1% 82% 95% 103% 100% 101 100% 98% 103% 49 113 90 99% 90% 109% 97% 04% 88% Close. 102% 99% 94% 98% 112% 1% 7 82% 95 103% 100 100% 100% 98 103% 48% 112% 89% 99% 90% 109 7% 944 93% 88 7% 94 97 8% 9344 82 81 % 1% B4k 544 85% 87% 98% 112% 98 3% 75% 107 101 93 Low. 102% 99% 94% 98Y% 112% 9% id 82 95 103% 99% 100% 100% 98 103% 481 112% 89% 99% 894 109 97 941 03% 88 97% 93% 961 894 9314 81% 81 T7% 1% BaY 54% 35% 87% 98% 112% 9% 72% 75% 107 101 93 93% 95% 99 8512 67 79 104% 118 3% 116% 103% 90 Argentine 7s. .. Belgium 7%s. Belgium 6s. Belgium 8s Canada 58 1926. Canada 5%s 19: ‘anada Bs 1931 Chile 85 1941. ... Chinese Gov Ry § Christianta 8s. Copenhagen 5% Cubabiswi. Czechoslovakia Denmark 8s Denmark 6s. . Dutch East I 6n Dutch East T 65 Framerican1D 7% French Govt 8, French Govt Ti4s. Haitl 6sctfs. ... . Holland-Am's f 6s. Japanese 1st 433, Japanese 4s Jergen UM 6s°47. Moxico 58 Targe . Mexico ds. . Montevideo 75 Netherlands 65 Norway 8s. . Norway 6s ct Paris-Ly's-Me Prague 7% Queensland 7s. Queensland 6s. ... Rio de Jan 88 1945, Rio de Jan 85 19. Rio Gr Do Sul #s. Sao Paulo.State, 88 c 68 9 Sweden 8s. : Swiss Confeds?83. Tokiofes::::. . Ud King'm 5%s 29 Ud King'm5%s'37 1 UnSteamCopenés. 7 Uruguay = 103% Zurich 8s 2 12 MISCELLANEOUS. Am AgrChem T%s 9 108 102% Am Cotton Oll 5s. . 62% 60% AmSmelt&R 1st 6 88 874 Am Sugar Ref 8 101% 101 AmT& T cv 6 1164 116% AmT& Tecl trbs.. 95% 95 AmT& Teltrds.. 91% 91% Anaconda cv db T 102% 102 Anaconda 1st 6s. ... 96% 96% Armour & Co 4%s. 86 85 Atlantic Refin §s. . 978 Bell Tele Pabsrcts 96% Bell TelePa7s.... 1 10T% Bethleh'm Stl rf 53 Beth'm St1 p m 58 Beth'm Stl s f 6x. Brier H St 1st 5 %8 Bklyn Edison 7s D. Bklyn Ed gen 5s. . Bush T Bldg 5s Central Leather §s Cerro de Panco 8s. Chile Copper 6s. ... CinG&E5%s'63. Con Coal Md 18t 55 Cub CaneScvd 8s. Det Edison ref 6s Du Pontde N 1% Duquesne Lt 7% Duquesne Light F Cuba Sug Tk%s.. Empire F&G 7148, Fisk Rubber 8s. .. Gen Elec debbs. .. Gen Refract'es 6s. Goodr'h (BF) 6a Goodyear Tr 8s '31. Goodyear Tr 85 '41. Humble O&R 5s Indlana Steel 5s. .. Int Mer Marine 6s. Int Paper Ist5s A, Int Paper 1st §s B. Kelly-Sp'gfield 8s. Lackaw'a 8 55 '50. Lorillard (P) 7s Magma Cop cv 7s. . Manat! Sug af T3 Marland Oil 7%s.. 62 Marland O T%s w.. 53 Marland Oil 85 w.. 150 Mexican Petrol 8s. 20 Midvale Steel 5s... 12 Montana Power 5s. 18 Morris&Colst4l%s 3 New Eng Tel 6s. .. NY Edison 1st 6%s NYGELH&P 6s. NYTel6s'4l..... NY Teld%s...... N Am Edison N States Pow bs... Northwst B Tel 7s. Otis Steel 8s. ... Pacific Gas & El 5s PacT& T6s'52... Packard Motor 8s. PhilaCoref6sA.. Plerce- Arrow 8s w | Producers & Rf 8s. Producrs & R 8s w. Public Service & Punta Alegre 7s... Sinclalr O11 7s. Sin Crude O11 6%s. Sin Pipe Line 55 South Bell Tel & So Por Rico Sug 8t Oil of Calif 7 Tobacco Prod sf 7s Toledo Ed'n 1st Ts. Union Bag & P 6s. Unit Drug cv 8s USRub Istrf U S Rubber 7% U S Steels f 5s. Utah Pow & Lt VaCar Chem 7s. Va-Car Chm 7%s w. ‘Warner Sugar 7. ‘West Union 6% Wickwire Spen Wilson & Co 1st 6 ‘Wilson&C cv 7% 18 102% ‘Wilson & Cocv 6s. 30 96 Wirch'tr Ams 7%s 1 102% —_— WEEK’S IMPORTS LARGE. BALTIMORE, March 26.—Balti- more’s import list last week was im- sing and included exceptionlly farge tonnages. 1Iron ores, both mag- netlc and otherwise, amounted to 25,- 232 tons; pig iron, to 1,500 tons; 0 9,332 bales; potash, to 2.922 bagw; borate, to 6,704 bags; bananas, to 51,636 bunches; fertilizers, to 1,144 bags, and cellulose, to 1,014 bales. There was a large movement of canned goods and lumber from the Pacific coast, Exports of grain from Baltimore last week reached 1,040,203 bushels, wheat predominating with 498,248 bushels. Rye followed with 301,354 Dbushels and corn with 245,562 bushels. Flour exports amounted to 9,079 bar- rels. PARIS BOURSE UNEVEN. PARIS, March 26.—Prices moved irregularly on the bourse today. Three per cent rentes, §7 francs 30 centimes. Exchange on London, 73 francs 45 centimes. Five per cent loan, 73 francs 60 centimes. 'The dol- lar was quoted at 15 francs 69 cen times. " ® o wm anRuBaaleaBhimanheBawaan 20 87% 934 81 96% 107 97 @ 102% 90% 92% 88% 107% 100 89% 88% 1074 99 9% 107% 131 83% 115 100 98% 84w 914 101% 105% 104% 106% 96 110% 854 107 101 87% 4% 98% 103 107 9TH 9874 102 96 102% 8044 107% 131 837% 116 100% 98% 85 1% 101% 105% 104% 106% 96 111% 86% 107% 101% B87% 95% 95 +103 107% 9T 99% 12 44 4 —_— POTTED PLANTS, 30 CENTS. Special Dispatch to The Star. RIVERDALE, Md., March 26— Residents are taking advantage of the annual spring sale of flowers at the conser ories of the University Po h{gcllllhl tullps are finding ready 4l 30 oents & pota ¢ QO RAILROADS. 62! 85 83% Low. Closs. 624 62% 84% Bd4% 83% 83% 78 18 82 82 94% 95 75 5% 99% 79 80% 93% 624 90% 90% 86 114 12% 6% 82 89% 85% 81 51% 28 97 8% 50% 61 68% 83% 67% 1% 79 106% 106% 81% 76% 89% Atchison gen Atlantic CL 1st 4s. Atlantic C Ll 4s.. North 634s.. Canad Pac deb 4s.. Central Pacific 4s. . Ches & Ohio cv b Ches & O cv 43 Ches & O gn 434 Chi & Alton 35 Chi & Alton 3% Chi B&Q 1at rf 6s. Chi&ETllgn 6 Chi Great Wet 4 Chi M&S P rf 43 Chi M&St P cv ba Chi M&St P 4s '26. ., ChIM&S P cv 434 Chi M&St P 48°'34. . CM&StPgn4%s Chi & NW 6% Chi Rys bs ChiRT& Pac rf 4s ChiUn Sta 435 Ch{ Un Sta 65 Chi & W Ind cn 4; CCC&StLrt 6s A Cleve Term 5% Cuba R R Bs. . Den&Rio G con 4, D&RG1strt6: Det United 414s Erfe 1st con 4, Erfe con ext 7s. Erie gen 4s. Erieconv4s A. Erfeconv4sD. Gr Trunk sf deb 63 Grand Trunk 7s. Gr North gen s Gr North gen 53%s. Havana ERL&P 5s Hud & Man ref 58 Hud & Man aj 6s... Ill Central ref 4s. Il Central 5%, Int Rap Tran 6s. Int R Transit 7s. Int & G Nor aJ 6 Towa Central rf 4s. Towa Cent 1st 6s. Kansas City S 35 Kan City Sou bs. Kan Clty Term ds. Lake Shore 4431, Lehigh Valley 6s, Louis & N uni 4s... Loufs & Nash 7; Manhat Ry cn 4s Market St cn 5s Mich Central db 4s © anwhEeaS~~58aaman o wios © % 0 B - o HEHINRRBAD AR ADA—= DR Mo Pacific 6 4 Mo Pacific 63 '65. . Mo Pacific gn 4 3 Montreal Tm 1st 63 New Or Term ds... NOTex & M in 6s. N Y Cent deb 6; N Y Cent deb 43 N Y Centris New Haven c d 6s. New Haven d 45 67 New Haven 7= fr. N Y State Ry 4 NY W& Bosdig Norfolk & W cn 45 Northern Pac 3s. Northern Pac 4s. North'n Pacr i 6s Northern Pac 58 rct Ore & Calif 1st 5s.. Ore Short L ref 4s. Ore-Wash 1st rf 43 Pennsyl gen bs. Pennsyl gen 4%s Pennsyl 6%s Pennsyl gold Pere Marq 1st 5s. Reading gen 4s RIArk &L 41;s. St L IM&S R&G 4s. StLIM&S 4s'29. StL&SFpl4sA. StL&SFprins inc 6s. CShL41gs. San A & Arn P 4s Seab'd A Liref 4 Seab'd A L adj 63 Seab'd A L con 6s Sou Pacific cv 4 Sou Pacific re? Sou Paclfic clt 4 Southern Ry 1st 63 Southern Ry gn 4s. Southern Ry 6%s Third Ave ref 4s. Third Ave adj 5 Union Pac 1st 4 Unlon Pac 1st r Union Pac cv 4s Unlon Pac cv 68 Virginia Ry 1st 5s. Wabash 1st 5s..... Western Md 4 ‘West Shore 1st 4 TOTAL SALES (Par Value): 11a.m.. 2624000 12 noon 4 458000 1pm.. 6720000 2p.m.. 7973000 GRAIN EXPORTS SHOW SLIGHT DROP IN WEEK Wheat, Corn and Barley Shipments Decrease, While Oats and Rye Make Gains. Grain exports from the United | States last week amounted to 3,507,- | 000 bushels,: as compared with 3,- 328,000 the week before. Totals of grain exports for the last. week, as compared with those of the week previous, were made public today by the Commerce De- partment as follows: ‘Wheat, 1,643,000 bushels, against 1,848,000 bushels; corn, 1,065,000 bush- els, against 1,040,090 bushels; barley, 10,000 bushels, against 148,000 bush- oats 406,000 bushels, against 73, 000 bushels: rye, 383,000 bushels, against 219,000 bushels; flour, 330,000 barrels, against 415,000 barrels. Canadian grain in’ transit from the United States amounted to 1,253,000 bushels, against 1,077,000 bushels the week before. —_— STEADY BUSINESS GAINS. Harvard Economists See Further Expansion and Higher Money. | hunarea | quart |a 3.25 {1.20, | rough stags |35a40; FINANC IAL, Grain, Produce and Live Stock WHOLESALE MARKET. “Stronger,” was the report of the condition of the butter and egg mar- ket this morning. Egg receipts showed no increase this morning, and the price was 1 cent a dozen higher than at the close of last week's market. A slight increase in the price of butter was also reported. Practically no changes in the meat 2nd poultry markets were reported since Saturday, Eggs—Strictly fresh, selected, can- dled, par dozen, 24a26; average receipts, 23; southern, 23. Live pouliry—Roosters, per Ib. 18: turkeys, per lb., 30a40; spring chickens, per 1b., 38a45; keats, young, each, 60; fowls, each, 2§a30. Dregsed poultry—Fresh-killed spring chickens, per Ib., 45a50; hens, per 1 32a34: roosters, per 1b., 19a20: turkevs. per 1b., 35a40; keats, young, each, 70a80. Live stock—Calves, choice, per Ib.. 12%: medium, per Ib., 10a12; thin, per 1b., 8a9. Lambs, choice, per Ib,, 13. Live DIgS, 3.00a5.00 each; live hogs, per Ib., % reen fruits—Apples, per bbl., 2. 6.50. California oranges, per cra a6.00; Florida, 5.00a6.00, Lemons, box, ' 4.50a5.28. Grapefruit, Vegetables—Potatoes, per bbl . 1.50a2.00; per sack, 2.50a2.75; No. 2, 50a 1.00. Sweet potatoes, North Carolina, 1.00a2.00; nearby, 2.00a2.60. Lettuce, per crate, southern, §0a2.00; Romaine let- tuce, per crate, 1.50a2.00; Iceburg let- tuce, per crate, a4.00. Cabbage northern, 3.00a4.00 per 100 pounds: near- by cabbage, per bbl., 1.50a2.50; southern, 2.50a3.25 per crate, box, Florid bas| pe per barrel per basket ggplants, 4.00a5.00. Tomatoes, per . 2.0024.25. Beans, 3.0025.00 -per Peas, 3.0006.00 per basket. Pep- per crate, Florida, 3.50a4.50. Kal 50a2. Epinach, per bb 503,00, lery, per crate, Florid 5043.00. Brussels sprouts, 15a25 uash, 3.00a5.00. Florida lima beans, 5.0026.00 per basket GRAIN AND PROVISIONS. Md, March 25 (Spe- tatoes, white, 100 pounds, 150-pound sack, L00a2 barrel, 1.00al bushel, rams barrel 1.00al Beans. bushel, 2.25: 5.00a7.00. ~ Bru 10a25. Cabbage, hamper, 2 Carrots, basket, 50a60. Cauli- flower, crate. 2.25a2.50." Celery, crate, 4250, Cucumbers, crate, 4 7.50. Eggplants, crate, 4.0 Horseradish, bushel. 2.50a3.50. and brocali, ‘barrel, 1.75a2.00. Lettuce, 0a1.50. Onions, 100 pound Radishes, basket. 1.25 bushel, ' 1.75a2.00. a4.50. 'Peppers, crate. . barrel, 75a1.50, Squash 3.00a4.06, Tomatoes, crate, 1.50 Turnips, basket, 50a60 Apples. packed, barre 3.00a6.00; bushel, 1.00a1.75; hox, 1.50a3.00. Cran- berries, barrel, 8.00212.00 Grapefruit, box, Oranges, box, 3.75a . quart,’ 40a60. Today'e Chicago Prices. CHICAGO., March 26—Favorable weather for the winter crop had a slightly bearish effect on the wheat market today during the carly deal- ings. Selling was led by houses with castern connections. On the dow turns in price, however, buying d veloped sufficient power to make t market two-sided. Opening quota- tions, which varled from unchanged figures to % lower, May, 1.19% to and July, 1.14% to 115 were followed by a slight additional sag, and then by transient rallies. Corn and oats were relatively firm in the absence of any aggressive sell- ing moves. After opening. unchanged to half higher, May, 73% to 73%, the corn market held near to the initial range. Oats started i off to higher, May, 44% and 44%. all_months showed some gain. Despite higher quotations on hogs. provisjons lacked support Subsequently, wheat prices under- went a more decided fall, May, in particular. Enlarged receipts at pri- mary terminals, together with an in- crease of the United States visible supply total. were hearish factors. The close was unsettled at the same as Saturday's finish to 1% net lower, May 1.18% to 1.18% and July 1.14% 0 114% WHEAT— sweets 85 ab 508 . 50 0. Beets, sel sprout 1 and 3 Later Low. Open 1181y 1103, 1143 118% 1148 1131 Neptember OATS— September RS Méy July I8 — i 41 10 085 10 DAIRY PRODUCTS. BALTIMORE, Md., March 26 (Spe- ).—Live poultry—Turkeys, pound, 42; old toms, 30; poor and crooked s, Young chickens. 33a43; and leghorns, hens, 29a30; small_and leg $: old roosters, 17a18; ducks, all and poor, 25; pigeons, guinea fowl, each, 40a60. Dressed poultry—Turkeys, pound, a42; old toms, 30a32; poor and ooked breasts. 25: young chicken old and mixed, 30; old rooster: rns. 0a34; pair, 35 18: ducks, 30a32; capons, 38a43; small | slips, 33a35. Fggs—Loss off, native and nearly firsts, dozen, 24;' southern, 22; duck egEs, 55. Butter—Creamery, fancy a52; prints, 52a54; near pound, 51 creamery, packed, 38; dairy prints, 38a40; proc- ess butter, 44. CHICAGO LIVE STOCK MARK CHICAGO, March 26 (United States Department of Agriculture).—Hogs— Receipts, 55,000 head: slow, strong to 10 higher; bulk, 160 to 210 pound averages, 8.40a8.50: top, 8.60; bulk 225 to 325 pound butchers, 8.0528.35 packing sows around 7.30; medium to cholce pigs, 7.00a8.25; heavy weight hogs, 8.05a8.25; medium, K.15a3.45; light, 8.40a8.60; light light, 8.00a850; packing sows, smooth, 7.40a7.75; pack- ing sows rough, 7.15a7.50; killing pigs. 7.00a8.25. Cattle—Recelpts, steers rather slow; narrow; early higher;’ mostly killing’ quality 14,000 head; beef shipping demand trading strong to 25 strong to 15 medium to good; jearly top matured steers, 9.75; some held” higher: vearlings, and heifers, 8.25; bulk beef steers, 5.2529.50; Dbeef cows and heffers comparatively scarce; mostly 15 to 25 higher; canners and cutters strong; buils strong to 15 higher: veal calves unevenly lower; stockers and feeders firm; packers buying medium to good light vealers around : few upward to 10.00 and above shippers. heep—Reoeipts, o mixed ' steers 19,000 head; spring lambs active; others slow; seven cars California 70-pound = spring lambs, 15.50, with 50 out to the car at 12.50; about 100 head native'spring lambs, 18.50 to city butchers; aver- aging about 46 pounds two loads choice handywelight wooled lambs, 15.00 to pckers; some held higher: clipped lambs, 11.75a12.00; one load desirable $5-pound yearlings, 13.00; sheep very scarce, no early sales. NEW YORK EGG PRICES. NEW YORK, March 26—Eggs steady; receipts, 43,992 crates. Fresh gathered, extra firsts, 27a20%; do. firsts, 24%a28% : New Jersey, hennery whites, uncandled extras, 40a44; do. locally candled extras, 40; state, nearby and nearby western hennery CAMBRIDGE, Mass, March 26— The recovery of business from the de- pression of 1921 has proceeded nor- Mmally, in spite of the European set- tloement, and good business may be expected throughout 1923, according to a report made by the Harvard economic service. The outlook for the remainder of this year is for further expansion of business, firm or higher commodity prices and firm or higher money rates, the Harvard economists prediot. “The Harvard index of general man- whites, first to extras, 32%39; state and nearby hennery browns, extras, 33a34; Pacific coast whites, extras, 37a38; do, firsts to extra firsts, 33%a 36%. . RAW WOOL MARKET. BOSTON, March 26 (Special).—The actlvity of the woollen mills of New England contributed to the firmness of the raw wool market today. general tone of the market was Kale | Close. | 30; old | 46a48; ladles, 40a42; rolls, 38a39; store | 5 up; | The | CITY FAGING LOSS OF NATURAL GAS |Rate War in Cleveland Brings | Threats—Many People Substituting Coal. BY J. C. ROYLE, 1 Dispateh to The Star. NEW YORK, March 26.—Residents of Cleveland today are facing a threat by the East Ohfo Gas Company that the natural gas supply will ba cut off from the clty May 1, entall ing serfous inconvenience to house holders. The gas company has pro posed a schedule of prices providing a minimum rate of $1 a thousand | cubic feet, 50 cents a thcusand for the next 30,000 feet, 60 cents for tha next 10,000 feet and 75 cents for ail over 41,000 cubic feet. The city cour. cll, on its pirt adopted a sche. rates making 80 cents the min rate with prices ranging from 40 to 75 cents per thousand for additional amounts. A citizens' committee is attemp to medlate between the counei the company the trea cutting off supplies avoided. All the city's s signed contracts with the comp rates higher than those propo the council. Conl Stov Purch ¢ of coal heating and cook ing equipment, especially in homes being built w 1s used a fuel, traordin y that some gas indusiry now are Bpe Sales Increasing. suade consumers to su equipment with coal heating appar atus This is e ially true of the { Pittshurgh di akers of coal stoves and heaters e enjoyed an unprecedented bus! Back of the situation is tha eduction In gas production per well lower rock pressure, together an increase in possible {tomers It is in extremely cold wea |domestic consumers in Pen suffer and it was to meet th davs of extre panies urged gency heaters, but resort to coal or oil for u. round is inducing gas companies to test all fields for deeper producing sands. Formerly the open-flow gas wells {n Pennsylvania and West Virginia wa about 3,000,000 cubic feet a day. Now the maxi m is about 600,000 feet The average rock pressure is now only 175 pounds, as compared with a former pressure of 800 pounds. Subsidiary Plants Operated. Some of the larger distributing companies are operating sub artificial gas plants and mixing the products with the natural gas. It predicted this practice will be ex tended. It is said, however, that dfs i tributing co ries in the Pittsburgh | district will apply for permission 1o increase their seliing prices There is no immediate prospect ot exhausting the na gas supply of { Missouri, Oklahoma _and {Texas so 1o e is confined to domestic lighting pu poses nestic heatine has practically been eliminated the establishment of rates whi make it cheaper to uge coal or o Development of new flelds is keer ing pace with the exhaustion of old wells i Use for Heating Restricted. When the natural gas first began to be used in that section, in 1906, it was belleted the supply was adequate for all purposes. Nearly every home was equipped to burn it in furnaces. cook stoves and grates. Within a few vears, however, winter brought acute shortages and ordinances wers passed restricting its use. These t entirely effective, however until prices were increased. At present there is an adequat »ply in the.middle west for light and cooking and prices are su | that natural gas is cheaper thun jthe artificial product for those houses when the relative heat units of t two are considered. Measure Against Inflation. Decision of the Fall River texti s’ operators to defer action on & pos sible strike until after a disc with employers April 20 had a stab izing effect in both manu and mercantile circles t ures advocated by | mittee on unemployment by Secretary of Comm 18 expected, will governors of the t serve banks now meeting ington. The meeting is ex determine whether the fe rerve banks will take slow down borrowing as a me prevent inflation in business. New Train Service To Begin This Week Special Dispatch to The Star. TULSA, March 26.—Some time this week the Chicago, Burlington and Quincy will run its first regular train into Oklahoma from { Wichita Falls to Waurika. This move is regarded as marking a revival of raflroad building in Oklahoma. Sur veys are now being made for a naw branch of the Rock Island between Waurika and Ringling about twenty six miles, and construction work will jstart before midyear. It aigo is re ported that the short line of the Bur lington will be extended to Oklahm: City. through virgin country Iving he tween the main line of the Santa Fa and Rock Island, Live Stock Growers End Hard Luck Talk Special Dispatch to The Star. i FORT WORTH, March 26.—Live stoc |growers of the southwest are being | strongly urged today to cease their i“hard luck” stories and to tell the {world they are not “hroke.” { " Such report ders in the indus | assert. circulated the cattle, jtry by 3 men and emphasized by constant aps nt aid have resulted {peal for governm: n of their collateral in the deprecia in financial circles of other sections tand impaired their credit | Live Stock Growers' assoclations therefore, are urging their members to borrow as little as possible this spring. reduce appeals for federal and state aid and help one another | Texas bankers have promised to co- operate. . ! Building Corporations Prove Boom to South Special Dispatch to The Star. N ORI March 26.—One ot the best eviden of the incre d commercial activity.in this section ot the south the increased number of new corporations formed sin | uary 1 and the increase in the c: of the companies. About three times Qs many new corporations were formed in the last three months ay during the corresponding period of |last yvear and the capital invested is | proportionately greater. | (Copyright, 1923.) MUST PLANT AGAIN. Extent of Storm Damage Now Def- initely Known. Special Dispatch to The Btar. NEW ORLEANS, March 26.—Early to- matoes, potatoes, peas, beans and other spring vegetables in central Mississippi 'and southern Louisiana were neur!l' s its Joking an Its use for doj ufacturing output increased from 28 | strong and transactions are grad- | wiped out as a result of recent storm per _cent below normal in May, 1921, to 10 per cent above normal in Janu- ary. 18 cent of capacity,” says the report, ually assuming a slightly broader scale. There has been no recession 23, normal being 75 to 80 per|in prices jn the west, but transac- | tions ther® are not heavy as yet. 1 and replanting will be necessary. Dam- age below New Orleans was not nearly s0 heavy, although shipments are de- layed. % / «