Evening Star Newspaper, March 27, 1923, Page 26

FINANCIAL, STOCKS IRREGULAR, BUTALSQ FIRMER Pools Again Heéume Ubward . Pressure in Some Shares. & Oils More Active. THE _EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star Ofiice 'UKSDAY, MARCH 27, 1923 [essv voxx BONDS s mcames] Recelved by Private Wire Direct to The Star Office, For Revised Close of Bond Market see 5:30 Edition of The Evening Star, (Balos are in $1,000.) RAILROAD! UNITED STATES BONDS, Bales. High. Low. Oloss. (Fractions represent thirty - seconds. | 4nn Arbor 4; 62% Example: 101-1 means 1011-32) 84% Bales. High. Low. Close. 83 Lib8%s..... 47 101 100-29 94% LibfstdKe.. 34 97-6 96-24 7 204 97-4 96-27 391 98-3 97-25 269 97-9 96-28 12 100-2 100 371 98-27 98-1 FOREIGN. Bales. High. 5 10214 11 101% 17 94% 15 98% 13 92 14 178 82 103% 95% 100 100% 100 98%, 103% 1024 FINANCIAL AUTO PRODUCTION GAINING IN SPEED Enormous Demand Causes New Output Records by Many Leading Firms. Grain, Produce and Live Stock ‘WHOLESALE MARKET. Incrensed receipts of eggs Gave dezlers a good supply today. WFarly morning selling suggested a firmer trend, but later in the day there was a slight decresse in prices. No change fs noted in the butter market. The market is holding firm, with no suggestion of a change in prices this week. An apparent tendency to increase the price of lambs was goticeable this morning. The market on all other meats was steady. Eggs—Striotly fresh, selected, can- dled, per dozen, 24a25; average receipts, 23; southern, 23. Live poultry—Roosters, per Ib., 18; turkeys, per lb., 30a40; spring chickens, per 1b.,’ 40a50; keats, young, each, 60; fowls, each, 28a30. Dressed poultry—Fresh-killed spring chickens, per Ib., 45a50; hens, per Ib. 32a34; roosters, per Ib., 19a20; turkevs, per Ib., 35a40; keats, young, each, 70280, Live stock—Calves, choice, per Ib. 12, medium, per lb 10all: thin, per 1b’, 8a9. Lambs, cholce, per Ib., 13. Live Digs, 3.00a5.00 each; live hogs, per Ib., 9 Green frults—Apples, per bbl.. 2.00a ONEY SPECTER REACTS ON BONDS Nearly All Issues Weak To- day, Including U. S. Obliga- tions—Some Gains. For Revised Close nlrstock Market see 5:30 Edition of The Evening Star. Open. High. Low. Closs . High. Low. Close. RN R 1% 1% 17% 5B e 28% 28% 20% e 11% 11% 11% S 29% 201 206 e 0% T0% 70% ol 16% 18% 16% ol 4% 41% 41% 5 1T 1T 17% s 41 3% 4% e 69% 69 697 o 235 228 23% 11% 28 264 2% 179% 124 12% 124 —Price |Am Car & T p?. 121% 109 107 109 Am Cotton Ofl. 141 4 14 14 AmCottonOllpt 28% 28% 425 4214 2% AmTce....... 106 0% 69% 0% Am Internat’ 318 1314 131 131% Am La France 12 1% 111 111 Am Linseed. ... 835 16% 16% 164 Am Linseed pf 543 104% 102% 102% Am Locomotive. 1324 49 4BK 48K Am Loco pt. 117% 85% 3o% 36% Am Meta 521 971 98% 97 19% 19 19% Am Metal pf. 116 Am Radiator 8% 111% 111% 111% Am Safe Ragor. . Th 132: 110% Am Ship & Com. Y Adams Expr Adév Rumley. Alr Reduction. Afax Rubber.... Alaska Juneau. . Allled Chemical. Allis Chalmers. . Am Agr Chem Am Beet Sug: Am Bosch. Am Bralke Shol Mex Shd ctts Miami Coppi Middle St O1l. Midvale Steel. Min St P&SS M. Mo, K&Twl... Mo, K & T pt wl. Mo Pacific. Lib 24 434, Lib3d d4s Lib 4th 4% s, Victory é%s UB4%s 1952, 89% 78 80% 3% 93% 62 74 2% a1 90% 86% B88% 114% 112% 7 87% 80% 98-10 (B kiyn R T 4s 2002, Bhiyn R T da 200 . Bklyn R T 68 ctts. . Bklyn R T 7s'21. BKI'RT 75 '21 ctf, BKI RT 7 '2] ct sta. Buff R&PItts 414, Canadan North 7s. Canad North 6%s.. Canad Pac deb {s. . Ches & Ohlo cv bs. Ches & Ocv 1% Ches & O gn 4%s. Chl & Alton 3s. : Chi& Alton 8 Chi B&Q gn 45 '55.. Chl B&Q Ist rf 5s. . Ch! & £ 11l gn bs. .. Moon Motors. Mother Lode. Nash Motors. Natl Acme. ..... Xatl Biscuit w 1. Natl Enameling Natl Lead. Natl Lead pf Nevada Copper. NOr Tex & Mex. N Y Alr Brk (A) N Y Air Brake. . N ¥ Central. NYNH& Hartfd. Norfolk & West. North American North Amer wi.. BY STUART P. WEST, Apecial Dispatch to The Star. NEW < YORK, March movements at times were pretty much mixed in today's stock market, but from the start there was visibly less selling pressure. Seeing this, pools in some of the industrials took hold of their specialties, and a good deal of short covering occurred in the gen- eral list Railway shares BY GEORGE T. HUGHES. Special Divpateh to The Star. NEW YORK, March 27.—With the specter of higher money rates over- hanging the market and +the con- tinued reaction in stocks, bonds were decldedly weak today, weaker than vesterday, and the most disturbing feature was the fact that each suc- cessive decline falled to stimulate any | interest on the buying side. All the United States government tssues were down and all except the 3%s made new lows for the year. Trad- BY J. C. ROYLE. 1 Dispatch to The Star. W YORK, March 27.—There i no sign ot slackening today in tha demand for automobiles, efther from city or country districts, according to reports from manufacturers. This fact is substantiated by the increase in the number of workers empi The Reo Motor Car Company's ad ture into the taxicab manufactur fleld has proved an exceedingly wise move, according to R. C. Rucschaw sales manager of the company. The Am Can pf. Am Car & Fd Close. 102 101 94% 98 92 1% 82 103% 95% Low. 101% 100% 94% 7% 013 1% 82 103% 94% 997% 100 99% 98B 103% 101% Argentine Belgium 7 Belgium Belgium Canada 6s 1926. Canada 6148 1929.. Canada Bs 1931. Canada 5s 1952 Chile 83 1941 Chile 8s 1 were ot favored, ewing to the disappeinting showing a the February traffic returns. In| ts optimistic mood of a month ago the street was sure that the New York Central dividend would be in- creased It was significant of the change in speculative temper that few Looked tor anything but the regular declara- tion at the meeting scheduled for Wednesday. New York Central stock was heavily Sold in the trading, but later rallied The California Petroleum plan fol- ‘lowed _the lines anticipated, any effect in a market gense had avidently been well discounted. Mar- iand and Phillips did_the best of any 5 the oll stocks Shipping stocks were strong for a time under the iéad of American interes €.entSP!FSHRDLU ETAOI UN LUNLN Review and Outlook. The principal point of interest in teday's financial markets was the meeting of the federal reserve gov- ernors, and what they might do or say on the subject of discounts and sredit conditior There was not necessarlly any connectoin between further signs of tighening in the day's money market with the con- tinued depression in American gov- ernment bonds and the anticipated news from the Washington confer- encé. Seaxitive. arket of the day ex- as the prevalling view lative that nothing would cecur at the federal reserve meeting calculated to have depressing offects in Wall At the same rime, it was not ve, the way It 1ad boen Monday. to the hardening of he money market. The fact was en- titled to comslderation that in the Freater part of the st pric Mon- fay's low were down approximat half the entire ground covered by th “bull campalgn” in February and the @arly part of March. This In view of the progress during that period to- ward a falr degree of business pros- perity was making rretty generous amends for recent rpeculative ex- cesses. pressed what Sugar Shares Stromger. e in the of Cuban sugar es- the closing of their that the \stan- r in n by the ence of a 4 st Today trals reported the vind-up of ope. and in each instance thé outturn was consider- ibly helow expectations. The r market but firm. -r demand, two more et d Punta Alegre particul improvement, wit 1 at the open- ing of a full polut above Monday's final. Recovery Gains Strength. Recovery roceeding with caution at the start, gathercd more confidence us time went on. It be- came sharpest in the late afternoon when word came from Washington that a statement was to he given out at 3 o'clock setting forth the view of the reserve board head as to the future pollcy in adjusting dicounts rates. much (Coprright, 1925.) TODAY’S COTTON PRICES STRONGER New York and New Orleans Mar- kets Show Better Tone in Quotations. B o NEW market YORK, showed March 27 —The cotton continued activity at Unexpected 0ol and an unfav- orable weathcr mup led to heavy cov- ering after vesterday's blg break and appeared to bring in fresh buying, which resulted in an inftial advance of 16 to 63 months, all the more active months being 30 to 65 points higher. July sold up to 28.10 and October to 24.95, or 51 to 58 points above vester- day’s closing quota bug there were a good many o sdling orders, and it looked ugh some cotton carried over yesterday’s hreak was com- Ing_out on the advance. Futures opened firm—May, £9.05; 28.00; October. 24.89; December, 4. and January, 23.70. NEW ORLEAN: prisingly str further heavy lighter rains NS, March 27.—A sur- ng Liverpool market, rains in Texas and eastward across the belts and reports of a better spot inquiry in the interfor markets put the price of cotton strongly higher today. The opening ws cited bulges which were widened aft- or the call was over: in the first halt hour of the sessfon the trading months went 53 to 65 points over the close of yesterday, May advancing to 28.23 and October to 24.46. Cotton futures opencd stead July, 27.76; October, and January. NEW YOR bids: May, 28.87; Jul March 27 bids: May, 28 sked: July, 27.81; October, 34.50; December, 24.00; Janu- ary, 23.50: steady —_— LIVE STOCK PRODUCERS ATTACK RAIL RATES lowa live stock producers in a com- paint made public today by the In- terstate Commerce Commission have attacked rates charged by mid-west- ern railroads on live stock thipments from lowa to Chicago as unfalr and unreasonable and have asked the commission to institute general re- ductions. * Three organizations, the Corn Belt Meat Producers’ Association, the Iowa Farm Bureau Federation and the fowa Co-operative Live Stock-Ship- pery Association, claiming altogether a membership of 119,000 farmers, jotned in ralsing the issue before the commission. Times and places for inearing requested on the complaint have not been fixed. PARIS BOURSE QUIET. PARIS, March 27.—Prices were easy on the bourse today. Thres per cent rentes, 57 francs 50 centimes. ‘Exchange on London, 70 francs 10 centimes. Five per cent loan, 73 francs 85 ocentimes. The dollar was wuoted at 15 francs 13 centimes. | GOLD REACHES NEW YORK. NEW YORK, March 27.—The steamer Martinique, which arrived today from Puerto, Columbia, brought seventy-five bars of gold and five cases of gold dust, platinum and ‘English gold coins consigned to sev- era! New York bankers. . but | showed | Associated Pross { made on ex. | Am Smelting. Am Snuft. Am Steel Am Tobacco. ... Am Tobacco (B) Am Water Wks. AmW Wk 8% pt. Am Woolen. . Am Woolen pf. Am Zinc & Lead. Ann Arbor pt. Anaconda. . . Asso Dry Goods. AssaDryG st pf Atlan Cst Line. . Atlan Bir & Atl. Atchison. Atchison pf Atlantic Guif Atlantic Gulf pt Austin Nichols.. Auto Knitter. Balto & Ohlo. Balto & Ohlo pf. Baldwin Loco.... Barnesdall (A). Barnesdall (B). Bayuk Bros. ... Beechnut Pack. | Beth Steel (B).. Beth St1 7% (n). | Bkiyn Edison. .. | Bklyn Rap Tran Bilyn R Tr cifs. Erunswick Term { Brown Shoe.. ... Burns Bros (A). Burns Bros (B). Butte Copper... Butte&Superior. Butterick...... Caddo Oil... Californta Paci Calif Petr Calif Petrol pt | Case Plow Wis. {Case (G D) pf. ... | Central Leather { Central Leath pt | Cerro de Pasco Chandler Moto: Chesap & Uhlo. Ches & O pt w Chi & Alton. ... Chi & East 11l pf ChiMiIl&BtP.. ChiMil&StPpt. Chi & Northwn. Chi Pheu Tool.. Chi RI& Pacific {ChiRI1 & P7% D2 ! Chtle Copper... Chino Copper | Cluett Peabo Coca-Cola Colo Fuel. Columbia . Columb'a Grap | Colum Graph pt Com Solvents A. Comp Tabulator Cons Clgar. . { Consol Gas new. | Cons Textile. Cent Can. | Corn Products. ! Cosden & Co. | Cosden pt...... Crucidle Steel.. Crucible Steel pt | Cuban-Am Bug. Cub Cane Suga | Cuba Cane Spt Cuban Dom’ican. Davtdson Chem. | Deere Co pt | Del & Hudso! D Lack & Wstn. j Detroit Edison. Dome Mines. ... i Dupont (ED)... Fastman Kodak Elec Stor Bat... { Endicott-John. Erie... . Erie 18t pf. Exchange Buff. FamousPlayers. Fifth Ay Busw i. Fisher Body. ... Fisher Body rts.. { Pisher B of O pt Fisk Rubbe; Fletshman Freeport Texas. {Gen Asphalt. Gen Asphalt pf Gen Clgar Gen Electric. Gen Elec spl wi. Gen Motors Glidéen. ... Goldwin Corp Goodricn. Goody'rpr pf wi. Granby Consol.. | Gt Northern pf Great Nor Ore.. Gt West Su pf.. Guantanamo Bu. GulfMo & Norpt Gulf St Steel. Hayes Wheel. Household Prod.. Houston Ofl.... Hudzon Motors. Hupp Motors. Iilinols Central. Indighoma..... Inspiratio: Interbor Rap Tr. In Ag Chem pf. 1nt Cement. . InCombustion B Int Harvester. . 1Int Harvester pt Int Mer Marine. Int M Marine pf. Int Nickel 1ntl Paper. Invincible Oil. Iron Products. . Jewel Tea Jones & L'ghl p Jones Tea...... Kansas & Guif. Kayser (Julius). Kelly-Spr Tire Kelsey Wheel. . Kennecott. Keystone T! Leo T & Rubber. Lehigh Valley. Lima Locomo. Loews Inc. Lott Inc | Lauts & Nash. Mack Trucks Mackay Cos p! Macy Co.. Mallison & Co.. Magma Copper. Manati Sugar. . Manhatten Shirt Manila El Corp arket St Ry. Market St Ry 2 Market St prior. Marland Oil.... Mathison Alkill. Maxwell (A)... Maxwell (B)... May Dept Stores Mclntyre Poreu. Mex Seaboard... 18 6324 144 3945 102 8 North Amer pf. ., 4% North Pacific. .. ki Ohto Bdy & Blw. 7 Olilahoma Prod. 28 Orpheum Circult 18% Otls Elevator. .. 139% Otis Steel. 131 Owens Bottle. .. 50% Paclfic Gas & El 81 PacificOll. ..... 435 Packard Motor. 16 Pnn-Am Pete. . . 80% Pan-Am Pet (B) Tdve Panhandie pf... 60 Parrish & Bing. 13% Penn Seahd St 4% Pennsylvenia... 45% Pere Marquette. 39% Pere Mrq pr pf.. 4% Philadelphia Co. 48% Philllps Pete. 67% Phoenix Hosfery. 45 Pierce-Arrow. .. 18t Fierce Ofl. 4% Pitts Coal. G54 Pitts & W Va... Toh Pond Creek Coal 9% Fressed Stl Car. 68 Pressed St1C pf. 91% 91% 91% Froducers& Ref. 54% 60% 64% Postum Cereal.. 123% 123% 123% Postym Cer pt.. 111% 111% 111% Pub Serv of NJ. 99% 101l 99 Pullman Co. 1284 128% 128% Punta Alegre... 63 64% 63 28% 0% 28% 304 304 30 16% 1o% 16% 6% 17w T6% 44 44 M 26% 27% 26% 60 61% 60 95 9% 95 19% 219 19% 59% 60 5Y% 4 39 4% 85 45 13 4% 65 6 97k 6715 39 4% 4AT% 85 45 13 4% 65 38 9% 674 Rand Mines. ... Ray Con Copper. Reading. ....... Remington. Replogie Steel.. Rep I & Steel Rep Ir & Stl pf.. Reynolds Spring Rey Tobae (B).. Royal Dutch.... 49% 50% 49% StL & SanSrpf. 464 46% St Joseph Lead.. 0% 20% StL & San Sran. 25% StL Southwn... 84 St L Soutawn pt 60% Savage Arm 264 Seaboard AirL. 6% Sears Roebuck.. 834 senecs Copper.. 10% Shell Unfon..... 1o% Shell Tr & Tran. 38k Stmms Petrol... 12% Stmmons. 81 Sinclatr Oil... 8o Skelly Oll. 15% Skelly Ol (new). 83 So Porto Sugar.. 88 South Pacific... 9i% Southern Rwy.. 3% Southern Ry pf. 70 Spaulding AGpf 103% Spicer Mig Co. 22 StOfl of Callf... b5% StOllof Califrts 8% StOllof NJwi. 40% StOtlof N J pf.. 116% Sloss-Sheffield.. 52 Sloss-Sheft pf... 881 Steel & Tube pf. 99% Sterling Prod... 63% Stew’t-Warner. 110% Stromberg Carb 85% Studebaker. 122 Submarine Boat 12% 11% Tenn Copper.... Texas Company. B50% Tex Gf Sulphur. 60% Texas & Paclfic. 27 Tex & P C&O1l.. 21% Tide Water Oil.. 1304 Timken Bearing 40% Tobacco Prod... 55% Tobacco Prod A. 821 Trans Contl Oll. 12% 4% Union Bag & P.. Union Pacific... 139% Un Alloy Steel. 37 United Drug. 804 United Frult.... 177% Utd Ry Inv pf... 50% Unit Retall Stra. 9% USFood Prod.. & U 8 Indus Alco.. 70 U 8 Realty 985 U S Rubber. 6175 U S Rub 1st pf.. 1035 U S Smelt & Ref 38 USSmelt&Rpf. 45% USSteel....... 106 107% 105% Utaeh Copper.... T0% 71% 70% UtahSecurities. 20 2 20 Vanadium Corp. 40% 40% 40 Va-CrChemical. 19 20% 19 Va-CarChempf. 59% 61% 59 Vivadou. 204 214 20% Wabash. ... 103 10% 10% Wabash pf (A). S81% 31% 381 Waldort System. 41 411 41 ‘Web & Heilbrn. 14% 14% 15 Wells-Far Exp. 49 49 48 Western Elec pf 112% 112% 112% Western Md.... 126 12% 123 Western Md 2d. 24% 244 28 Western Pacifio. 17% 174 1Th Western Union. 113 113 113 West Alr Brke.. 118 119 119 Westhee E1 & M. 638% 641 033 Wheellng ELE ~ 9% % 9% Wheel & LEpt. 16% 16% 16% White Eagle Ofl 28% 28%/ 28% ‘White Motor. o 56 66 ‘White Oil. 4% 4% Wickwire. 11% 11% Wilson Co. 38% 38 Willys-O1 % Th Wil 53% ‘Wright Aero. 9% Youngstn Tu 69% 98% 613 103% 38 45% 45% 9% 28% &8 4% 1% 88% T 53% 9% 74 Last, 5% High. Leow. - Call Money..... 5% % HOURLY BALES OF STOCKS. 489 500 792 700 NEW SEABOARD OFFICIAL. NEW YORK, March ¢7.—Indications that the Warfleld plan for the pool- ing of freight car equipment will bs pushed In the next Congress were contained in a statement made yes- terday by S. Davies Warfleld, presi- dent of the Seaboard Air Line rall- way, to'the effect that N. D, Ballan- tine, car service expert, had been ap- pointed assistant to the president. Mr. Ballantine was general superin- tendent of transportation of the Unfon Pacific, and during the war was associated with Gen. W. W. At- terbury in the car service of the American expeditionary forces in France. Upon his return from the service Mr, Ballantine was connected with the car service division of the United States Railroad Administration and wae @ member of the car service committee of the association. Accord- ing to Mr. Warfield's announcement, Mr.- Ballantine will be available to the National Ratlwavs Service Cor- poration as vice president. 3 AUTO PARTS PLANT SOLD. CLEVELANI? March 27.—Sale of two of the eight plents of the Standard Parts Company, Cleveland's largest automoblle accedsory manu- facturers, and its three service sta- tions for’ $1,025,000 to a syndicate of bankers, headed by Howe, Snow and Bartles of Graand Rapids, Mich, was approved by Federal Judge D. C. ‘Westenhaver yesterday. £ TRTE w TS . 1 jwere firmer. ing was on a larger scale than in some time. Quotations for time funds Day's Most Notable Loas. The most notable loss recorded to- day by a high-grade issue was sus- tained by United States Steel sinking fund os, which rold down to par, four points below the high of the year and a new low for 1923. Losses were recorded by hoth high- grade and speculative securities. KEx- amples of the former were Norfolk and Western 4s and tae Bell Telepnone of Pennsylvania bs. The speculative section was even more reactionary. Dery Corporation 7s lost two more points and then lied, indicating that the market had abeut discounted the news of the receivership. Amertean Cotton Ol 53 and Mis- sourl Pacific general 4s made new lows for the year. Virginia-Carolina Chemical 7s, the first mortgage issue, and the 7%s, the debenture issue, both sold down. The good earnings of the Baltimore and Ohio and the attractive yield basis on which the bonds are selling were of no avail in maintalning the quotation for Baltimore and Ohio con- vertible 4%s. Cuba Cane Sugar Ts and 8s reflected the general uncer- tainty as to the sugar market. Lixt of Advances Short. The list of advances was short. Marland Ofl T4s and 8s, both with warrants, jumped 10 to 12 voints, the influence being the rights which the warrants carry to sub- scribe to twenty-five siares of stock at 340 per share. In the foreign list Serblan 8s in- creased their recent zains and the Belgian 7%s were strong. The prin- cipal new offering was the $19,900,- 000 Oriental Development Company 6s. guaranteed by the Japaneeo gov- ernment very W, B.&A OFFCALS NEPORT GO0 YEAR Road No Longer Expects Large Returns From Camp Meade. | Steady Growth. BALTIMORE, March 27.—Phe an- eting of the stockholders of ngton, Baltimore and Annapolls Electric Raflroad Company was held yesterday at Naval Academy Junction. The only new member clected to the board was C. M. Mason, who was named to fill the vacancy caused by the death of James A. Hemenway of Boon le, Ind. Mason {s president of the Electric Securities Corporation of New York After the meeting of the stock- holders the b, et in this city and elected office: The report for the year 1922 shows that it was the first full year of operation of the Short Line " division. Baitimore Terminal, Washington Terminal and the new gas plant of the Annapolis Public Ttilities Company. In reply to the frequent inquiries received about the future of Camp Meade, President George T. Bishop cxplained that there are only & few hundred men now stationed there, and that the company no longer ex- pects a substantial profit from that source. In his report he sald: “Exclusive of Short Line division and Camp Meade earnings, the year 1922 showed an increase In gross operating revenue over 1818 of 3967 972,94, or 103.2 per cent. This indi- i Denmari 6 cates accurately the healthy growth of the company's business on what may be designated as its original tem.” Statement of operztions lows: Ry. oper. rev... Ry. oper. exp. . Xet rev. ry. op. Net. rev. aux. Net oper. rev. Taxes ansignable fo Ty, oper &S Oper. income . . Non-operat. $790,499.67 559,908.21 Gross {ncome Deductions fro gross income. Net fncome ... Percentage rv. exp. to ry. oper. ey 60.48% Annapolis Short Line included from Febru- ary 18,1 BALTIMORE LIVE STOCK. BALTIMORE, March 27.— Receipts for week ended noon vesterday were 2,451 head, against 1,641 head last week: 90 carloads for market for the week. Steers opened active, closing steady; cows stronger: bulls, 25 to 50 higher: steers, choice, 9.25a9.65; good butcher, 8.2548.65; medium, 7.50a. 790; common, 5.90a7.00; heifers, chofce, 7.76a8.00; fair to good, 6.50a 7.25; commen to medium, 5.5026.00; bulls, cholce, 6.0026.50; fair to good, 5.25a5.75; common to medium, 4.50a 5.00; cows, cholce, 5.50a6.00; fair to good, 4.76a5.25: common to medium, £.00a4.00; Maryland and Pennsylva: nia cows, generally 1.00 lower than above quotations. Sheep and lambs—Receipts for week ended noon yesterday ~were 2,562 head, against 2,324 head last week. Light supply; market' steady on jambs; lower on_old sheep; sheep, 6.00a7.50; lambs, 8.00a16.00. Hogs — Receipts for week ended noon yesterday were 20,603 head, against 13,079 head last week; good supply; market lower; lights, 9.40; heavy, 9.00; medium, 9.40; pigs, 8.75: 1ight pigs, 8.35; roughs, 5.00a7.40. Calves— Recelpts for week ended vesterday were 1,538 head, against 1,380 head last week; moderate sup- ply; market higher; calves, 4.00a14.00. INSPECT STEEL PLANTS. FPITTSBURGH, Pa., March 27— Completing an engineering inspection trip started in New: York March 21. ninety members of the senior class in administrative, electrical and me- chanical engineering of Yale Univer- sity today were scheduled to visit a number of steel plants in the Pitts- burgh district. LIVERPOOL COTTON. LIVERPOOL, March 27.—Cotton— Spot, small business; prices easies good middling, 15.33; fully middling, 15.18; middling, 15.08; low middling, &ood ordinary, 14.33; ordinar: 14.08.. Sales, 5,000 bales, including 1,900 American. Receipts, 19,000 bales, including 11,800 American. Futur closed barely steady; March, 14.6 May, 14.58; July, 14.40: October, 13. January, 12.94. Chile 4 Chinese Gov Ry & Copenhagen § % Cubasyswi. Czechoslovakia 8 Denmark 8s. 103% 48% 90% 99% 89% 109% 9714 94% 5% 8%, Dutch East I 6347 Dutch Zast I 8s '62 Framerican1D 711 French Govt 8s. 7 French Govt 7%s. 109 Haiti 6sctfs...... 18 Holland-Am s f fs. Japanese 1st 438, Japanese 24 4% Japanese 4s. .. .. Jergen U M 62°47. . Lyons 6s. Netherlands 6s. Norway 6s ctfs. . Norway g Paris-L; Prague 7% Queensland 7s Queensland 8s.... Rio de Jan 851946. 1 Rinde Jan 85 1947 Rio Gr Do Sul fs. -Med fs. | Sao Paulo, City, 8s Sao Paulo.State, 85 Seine, Dept of, 7s. . Serbs Crots Solssons 6 Tok!o Bs. . 8 Ud King'm 5%s ‘28 65 Ud King'm 6%s ‘37 44 Uruguay 8s. Zurich 8s 103 48 90 9% 88% 108% 96% 94% MISCELLANEOUS. Ajax Rubber 8s. .. Am Agr Chem %8s Am Cotton Ol 55. AmSmelt&R 1st6a. Am Sugar Ref 6s.. AmT& Tevés... AmT& Tl tr bs. AmT& Teltr4 Anaconda cv db Anaconda 1st 6s.... Armour & Co 4¥s. Atlantic Refin Gs.. Bell Tele Pabsrcts Bell Tele PaTs.... Beth't1 St] p m 5s. Beth'm St = £ 6s. Betnleh'm 8tl rf §8 Brier H St 1st 5123 Bklyn Edfson 7s D. Bkiyn £d gen fe. . Bush T Bldg 53 '60. Central Leather 5s Cerro de Pasco 8s. Cin G & E 5%, z Con Coal Md 1st 58 Cub CaneScvd 8s. Dery (D G) Det Edison ref 6s.. Du Pontde N 7%s. Dugquesne Lt 73:s. Dugquesne Light Gs E Cuba Sug 7%s. Empire F&G 7%, Fisk Rubber §s... Gen Elec debbs. .. Gen Refract'es £s. Goodr'h (BF) 6%s. Goodyear Tr 85 '31. Goodyear Tr 83 '41. Humble O&R 6%s3. Indiana Steel 55 Int Mer Marins €s. Int Paper let 6s A. Int Paper 1st 5s B. Julius Kayser n. . Kelly-Sp'gfleld 8s. Liggett & Myers 53 Manat! Sug sf Ths Marland Oi! T8, Mariand O 748 w Marland Of1 8s w. Mexican Petrol 8s. Mich St Tel 1st 5s. Mtdvale Steel 5s. .. Montana Power 5s. Morris&Colat4%s. New Eng Tel 68 NY Edidon 1st 6 NYGELH&PGs. N ¥ Tel63'41..... N Y Tel 4%s... N Am Edison 6s N States Pow 65 Northwst B Tel 7s. Pacific Gas & El 53 PacT&TEs'52... Packard Motor 8s. Phila Coref 65 A. Plerce-Arrow 8s w i Producrs & R 8s w. Punta Alegre 7s. Sinclalr Oil 7s. ... 80 Sin Crude Oil 53%s. 7 Sin Pipe Line bs... 27 So Por Rico Bug 7s. 2 Bt Oil of Calif 7s... 12 Tobacco Prod sf 7s 18 UnionBag &P 6s.. 1 Unit Drug cv Bs 8 U S Rub 1t rf 6 10 S Rubber Tl4s. 1 UBSBteelsfbs.... 18 Utah Pow & Lt6s. & Va-Car Chem 7s. 15 Va-Car Chm T3s w. 9 West Union 6%s.. 17 Wickwire Spen 7s. 8 Wilson & Colst6s 8 Wilson&Ccv T%s. 16 Wlison & Cocvés. 4 9% Wirch'tr Ams7%s 6 102% XY GO NDE G X G 19 21 10 11 106 96% 9814 101% 9853 102 —_—— SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) ~—Noon.— Aluminum Co. of Amer. Ta 102: Aluminum Co. of Amer. Ts 1033, American Cotton Oil 8 1624 American Sugar s 1937 American Tel. & Tel. 68 1924 American Tel. & Tel. 68 1925. Anaconda Copper 6 1829.... Anaconda Copper 7s_1029. ‘Anglo-American Ofl 7hs 16: Bell Tel. of Caa. 7s Bethlehem Bteel B Canadian Northern 5%e 192 C: Pacific 6 1024 Gentral Leatber 5s 1025. C., C., C. & St. L. 6s 1029. Chicago Tel. bs 1923 Du Pont 7i4s 1931 Goodyear T. & R. 85 1981. Qreat Northern 7s 1836. Hoeking Valley oo 1024. Humble Ofl 5ias 1032. Kansas City Term. 6s Kenoecott Copper 7s 193 il & Libby Bt. Paul Unlon Bears, Roebuck & 23. Standard Ol of Caltf. 7s 1931 Tidewnter Ofl 6}s 1631 Union Tank Car %s 1900. Western Unlon 8%s 1038, Westinghouse E. & M. T Bld. 1%, ] 118 108 105 105 e ss 1 Depot 3 1025. 0 85 94 67% 1015 1084 107% 102 108% 93% 4 106 100 088, 100 103% 116% 97% 991 87% 86 B4y 105% 108% 974 o9 96% 145 150% 108 99% 8715 94 80% 961 107 965 102% 91 92 88y 1074 88% 88y 102 Ofter. 108 ioalt 92 101 100 11614 103% RAW SUGAR MARKET. NEW YORK. March 27.—The raw sugar market was steady early today with Cubas quoted at 5% cents, cost and freight, equal to 7.28 for centrif- ugal, with sales of 5500 bags prompt shipment to an operator at that level. Raw sugar futures were firmer on covering, and commission house buy. ing prompted by the steadiness of the spot market, with 9 to 11 points net higher. 5 rices at midday Chi Great West 4s. CM & Puget Sd 4: Chi MESP rf 4% Chi M&St P cv bs. . Chi M&SL P 45 '26. ., Chi M&S P cv 43%s. CM&St Pgn 4is Chi& NW 6. Chi & N'W 7. Chi Rys 6s. ChiRT& Pacrf ds. ChiUn Sta 414 CCC&StLre6sA.. Cleve Term 514, Colo & Sou 4348 Del & Hd 1st rf 4s. Den&Rio G con 4s. D&R G 1st rt b3 Det United 4 Erfe Ist con Erfe con ext 7s. Friegen 4s. Erfe conv 48 A Erieconv4sD..... GrTrunk st deb 63. GrNorth gen 7s Gr North gen 5% |Green B & W db B. Havana ERL&P 68 Hud & Man ret 6 Hud & Man a§ bs. Ili Central 5%4. Int Rap Tran 5s. Int R Transit 7s... Int & G Nor aj 6s Towa Central rf 4s. Kan City Ft 84 Kansas City S 38 ICan City Sou bs. Kan Clty Term 4s. Lake Bhore 4328, . Lake Shore 44 '31.. Long Island rf 4s. . Louls & N uni 4s. Leuis & Nash 5% Market St cn 63 M El Ry & L gs. M& StLrf ex b | MStP & sSA 630, MK&Tist 4s MK & Tprinss MK&TesC.. MK & Tadss. { Mo Pacific £s. . Mo Pacific en ... 29 Montreal Trm 1st 53 10 New Or Term NOTex& MIn N Y Centdeb 6s. 2 N YCentribs....100 New Haven cd 63. 15 New Havend 4s57. 9 |New Haven s fr.. 8 N Y State Ry 43%s." 4 NY W & Bos4tzs. 15 Norfl\lk'& Woen 4s. 17 Norfolk'® Wev 6s. 7 Northern Pac 3s. | Northern Pac 4s. North'n Pacr | 6s. { Northern Pac 55 ret Ore & Calif 1st 58 O Short Licn 65 '46. Oro Short L ref 4s. Ore-Wash 1st rf 43 Pennsyl gen bt { Pennsyl gen 415 | Pennsy161; Pennsyl gold 7s Pennsyl con 433 Peoria & Eincds.. | Reading gen 4s.... | Rio Grand W el ds. IRIATk & L4%s... StLIM&S 4e'29. StL&SFplisA. |StL& NEeBantaLeeRaneNe & - ®© Bobroonemamnnen albalo @ 12 wandunBatont oeBe® |Seab'd A Liret 4s.. |Seab'd A Loads 5s.. 5 | Seab’d A Licon 6s.. | Sou Pacific cv 4 Sou Pacific ret Sou Pacific clt 4s. Southern Ry 1st 5s. Southern Ry gn 4s. Southern Ry 6%s. . Third Averet 4 ‘Third Ave adj Union Pac st 4s... Unfon Pac 1st rf 4s Union Pac cv 4s.... Unlon Pac cv 6s. Virginia Ry 1st 6s. Western Md 4s. Western Pacific 5s. West Shore 1st 4s.. 8% 77 Wheel&LEcn4s. 16 8% 58 TOTAL SALES (Par Vaiue): 1la.m.. 3539000 13 noon b 886000 1p.m.. 79580000 2p.m.. 9353000 —_————— LIVE STOCK INSPECTION PLANNED IN LOAN CASES Plans are being prepared f licensing of 1ive Stock loan Inspesters under the new agricultural ocreditd act, to male inspections of live stock oftéred as security for loans. Under direction of Chester Morrlll, assistant to the Secretdry of Agricul- ture, and officer in charge of the packers and stockyards act, a special temporary committee has been form- ed of representatives of the Farm Loan Board, War Finance Corporation Federal Reserve Board, bureau of agricultural economlcs, bureau of ani- mal industry and packers and stock- yards administration, to work out Dlans for the licensing of the inspec- tors under the Secfetary of Agricul- ture. Tentative rules will be submitted to producers’ assocfations, banks, cattle loan companies, live stock exchanges and others Interested, who would be asked for advice and assistance as to the best manner of putting them into practical operation. The inspectors will be used and compensated by the national agricultural associations and others. —— e FOREIGN EXCHANGE. Marth 27, 1923—12 m. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks g0 value. today. London, pound . 4.8065 4.60 Montreal,” doll 100 Paris, franc 1 Rrussels, fran Berlin, mark o P TR Y 674 101 59 58% 85t 81 944 104% 918, 804 80% i 104 91 60 80 104 91 60 80% 8% 58 PP T =y Athens, drachma Madrid, peseta Vienna, crown. Rudapest, crown . Copenhagen, crow Christiania, crown Stockholm,’ crown ... By the Associated Press. NEW YORK, March 27.—TForeign exchanges irregular. Quotations in United States dollars. Great Britain, Gemand, 4.68% cables, 4.68%. France, demand, .066' cables, ,0657%. Italy, demand, .04923(; cables, .0492%. Bel- glum, demand, .0568; cables, .0568%. Germany, demand, .000048%; cables, [000048%. Holland, demand, .3840: cables, .3943. Norway, demand, .1808. Sweden, demand, .2660. Denmark, de- mand, .1918. Switserland, demand, 1846, Spain, demand, .1538. Greece, lemand, .0115. Poland, Czechoslovakia, 0296%. tine, demand, 2 Brazil, demand, .1108. Montreal, .98%. | Bauash, 3.00a5.00. 11.33% nominal 8.50. California oranges, per crate, 5.50 36.00; Florida, 5.00a6.00, Lemons, per box, ' #50a5.25. Grapefruit, _3.50a4.25 Vegetables—Potatoes, per bbl 1.50a2.0; per sack, 2.30a2.75; N 1.00. Sweet potafoes, North Carolina, 1.00a2.00; nearby, 2.00a2.50. Lettuce, per crate, southern, 50a2.00; Romalne let- tuce, per crate, 1.50a2.0( Iceburg let- tuce, per crate, 3.75a4.00. Cabbage. northern, 3.00a4.00,per 100 pounds; near- by cabbage, per bbl., 1.50a2,50: southern, 250a3.25 per pasket. Eggplants, per crate, 4.00a5.0i Tomatoes, per box, Florida, 2.00a4.25. Beans, 3.00a5.00 per basket. Peas, 3.00a6.00 per basket. Pep- pers, per crate, Florida, 3.50a4.50. Kale, per barrel, 2.00a2.50. Spinach, per bbl., 2.5023.00. ' Celery, per crate, Florida, 2.50a3.00. Brussels sprouts. 15a2 8 Florida lima beans, 5.00a6.00 per basket. GRAIN AND PROVISIONS. BALTIMORE, Md. March 27 (Sp cial) —Potatoes, white, 100 pounds, 75a1.50; 150-pound sack, 1.00a2.7 sweets, barrel, 1.0021.75; bushel, 50a 66: yams, barrel, 1.00a1.50; bushel 50a65; asparagus, dozen, 5.00a10.0 beans bushel, 2.2523.50; beets, 100 56.00a7.00;, brussels sprouts, quart, 10a25; cabbage, hamper, carrots, ba 50260; 2.50; celerw, crate, bers, crate, 4.50a7.50; egg te. 400a5.50; horseradish, 0a2.50; kale and broocoll, 75a2.00: lettuce, basket, 50 onfons, 100 pounds, 1.50a4.25; radishes, basket, 1.25a2.75; parsnips, bushel, 175a2.00% peas, bushel, 3.50a crate, 2.5024.00; spinach, squash, crate, 3.00a ; tomatoes, crate, 1.50a4.00; tur- mips, basket barrel, 3.00a6.00; box. 1.5023.00; cran- 800212.00; grape- 1it, box, 2.75a4.30; oranges, box, 3.7526.00; strawberries, quart, 40260 Selling Prices at 12:30. Wheat—No. 1 red winter, spot! no quotations; No. 2 red winter, spot 1.34% nominal; No. 3 red winter, spot. { The export busin taxicab business of the Reo has be made a separate department, and M Rueshaw said today business w. flowing in from all over the countrs Reo entered this fleld only after se. eral vears of the most exhaustive e: amination of {ts prospects, and of- ficials are convinced that this branch of the company's production has pos- sibilities which will cqual in value those of the “speed wagon,” which has been such a distinct Reo succes Farmers Buying Heavily. The Oldsmobile Company reporis that farmers are buying five times ae ny automobiles today as they did a ear ago, with a tremendous volume of business coming from Nebraska Montana, North and South Dakota, Wyoming, lowa, Kansas and Migsour: s of the com gives promise of breaking all record. thise year. In the first two mont of the year the Oldsmoblles shipy abroad amoun to more than 80 p: cent of the total number exported 1822 Ford Beats All Hecords. The Ford Motor Company has tually cut loose frem schedules is_making production record: which werc not due to be until April. Not satisfied wit ing all previous records for output within the last wi mark of 5805 cars, the torfes have shoved the output bey the 6.000 mark and by ybe turning out 6,300 car These records are the more renm pany did not e 1ark unti able. ag the co to touch along is The n sales also are upward he ex s for the first two months year exceeded that for cor ing months last year hy 100 . the number cars belng as compared It ued z ou 00 cars this vy shipped n with 9262, the foreign no_quotation: 0. 1 red winter. gar- Hcky, 1.33% nominal; No. 2 red w ter, garlicky, no quotations; March, Sales—None. Corn—Cob, corn, . 4.50 per bar- spot, per bushe No. 2 corn spot. . _no qu: tations; track corn, vellow, No. 3 better, 89 per bushel, Sales—None. Oats—White bushel; No. 3, Rye—Nearby, or 54%ass per 6254, 80a90 per bushel; No. western export, spot. B88% per No. 3, no quotations Receipts, 220 tons; top grade timothy and light clover. mixed. in moderate demand at a range of 17.00 to 22.00 per ton, with no surplus of really desirable hay. Straw—No. 1 tangled ryve, 15.00; No. 1 wheat, 12.00a12.50; oat, nominal, 14.00a15.00. TODAY'S CHICAGO PRICE CHICAGO, March 27.—Owing to the fact that for three days wheat fces had been doclining, bears showed cau- tion today, and with offerings scare the market scored a littls upturn Quring the early dealings. Shorts were made the buyers of May, and| commission houses tock July and Sep- | tember to a fair extent As a rule, however, crop reports were favorable The opening, which ranged from off to % up, With May 1.18% to 1.18% | and July 1.14% to 1.14%, was followed by gains ail around, interrupted though by transtent sethacks. Corn and oats were firmer Twith| wheat. _After opening unchanged to %akhigher, May, i3 to Jai3%, the corn market held near to the fnitial | 15.002 No. 1 e to % ad- vance, May, 44%, and later showed but little variation. Provisions reflected the firmness of hog_values. Open. High. L1185 110% D1k 15T 138 158, 6% Lew. Close. | 118% 110% 1188 y tember RD— May July . RIBE ey 1. 167 155 1187 May July 10,85 10.62 DAIRY PRODUCTS. BALTIMORE, Md., March 27 (Spe- cial).—Live poultry—Turkeys, pound, 35a42; old toms, 30; poor and crooked breasts, 25. Young chickens, 33a42; rough stags and Leghorne, 25a30; old hens, 29a%0: small and Leghorns, 17 a28; old roosters, 16a17. Ducks, 30a 24: small and poor, 25. Plgeons, pair, 36a40, Guinea fowls, each, 35a60. Dressed poultry—Turkeys, pound, 32a42; old toms, 20a32; poor and crooked breasts, Ycoung chickens: 36; old and mixed, 30a82; old roosters, 16a17. Ducks, 30a32. Capons, 38a43; small slips, 33a35 Eggs (loss off)—Native and nearby firsts, dozen, 24; southern, 22; duck fancy. pound, 52; creamery, 46a 3%a39: ‘store 38a40; proc- prints, 52a54: 48; ladles, 46a42; rol packed, 38: dairy print: ess butter, 44 CHICAGO LIVE STOCK MARKET CHICAGO, March 27 (U. S. Depart- ment . of Agriculture).—Hogs—Re- celpts, §3,000 head: fairly active Strong to' 10 higher; bulk desira- ble, 150 tg 200 pound averages, 3.50a 8.60; top, 8.65; bulk 225 to 326 pound butchers. 8.15a8.40; few packing sows around 7.35a7.50; desirable pigs, 7.00a 8.25; veight hogs, 8.10 medium, § 1ight, 8.45a8.6 light light, 8.00a8.60; packing sowi smooth, 7.40a7.75; packing sows, rough, 7.1627.50; killing pigs, 7.00a 828, ttle—Recelpts, 11,000 head; beet steers uneven; killing quality plain; lower grades steady to Strong; spots higher; early top matured steers, 9.90; Dest long yearlings, 5.855 bulk beef steers of quality and condition to Sell at 8.009.25; shiping demand nar- row, especially on heavy sieers; she stock steady to weak; bulls about steady; veal calves slow; early sales about steady; stockers and feeders firm; bulk stockers and feeders, 6.75a 8.00; heavy feeders on country ac- count late yesterday, 8.26; vearling stockers and heavy feeders out of first hands today, 8.00a8.10, respec- tively; bulk beef heifers, 6.50a7.50; bulk desirable bologna bulls, 8.25a 8.35. Sheep receipts, 18,000 head; open- ing very slow; few early sales weak to 26 lower:; about 43 natives, 40 to 54 pound spring lambs, 18.50 to city butchers; recently olipped 85-pound 1ambs, 11.25, wid heavies out at 9.50; fall shorn lambs, 12.25; heavy wooled lambs, 18.50: averaging 94 pounds. Extreme heavies, 12.35; no choice handywelght wool skins. Sheep strong; three decks, cholce 104-pound ewes, 9.00; other lightweight around 8.75. |the Ford c { tain ore. t {mark but a demand ¢ ues the purchase of coal t for 100 years pri remaining unforged of supplies i dent of outside snurces, is session of fron ore land perial mine in upper Mich!gan> which is owned by him, does not begin to supply his needs, and w! other holdings in the upp: e deposits are undevelop It would not surprise the auto- {mobile trade, therefore. to hearat ant time that the great manufacturer had purchased additic ron properties Pass Milllon-Car Mark. companies turn in the last ssing the or two before the Bulck company ‘turned the trick These are the only other companles besides Ford to gain the milllon-car output class, Ford reached that goal several years ago, and is now ap- proaching the 7,000, ark Willys-Overland, Gray and Chevro- let all ‘are feeling the impetus of ti spring wave of car buying Will Overland production has been 1 creased to 900 cars a day, which wil make March output about 15,000, a that for April about 20,000 (Copyright, 1923.) the only le ed Two aut out their two week COMMODITY NEW'S WIRED STAR FROM TIRE COUNTRY Ma products coke pla t are in operation ty the district's be increased. The Repu and Steel Company has placed orders for ovens and other companies are con sidering construction plans LOS ANGELES, March 2 volume of production in Califo fields today s taxing all storage transportation facilities. The numha of new wells being drilled is excee ing all records. GREENVILLE, Mich The market for potato tion has advanced from 7 {a hundred pounds. Buyers clai today that strong outside demand and the government report showing re duced potato holdings as of March 1 are responsible. PITTSBURGH, March potatoes are quoted wholesale tod at 2.25 and 2.35 per 150 pounds. Be mudas are. quoted at 14.00 and 14 per barrel. DETROIT, Mich. Ma Paige Detroit Motbr Car Com: get a new record for shipments in the last week, sending out 270 cars in one day. FORT WORTH, March 27.—The Easter trade throughout Texas and the southwest has been 50 per cent heavier than last season, according to dry goods merchants. This was natural consequence of fmproved busi ness conditions, they said. PHILADELPHIA, March 27.—Increas- ed cost of raw materials is assignsd as the reason for an advance of from 8 to 10 per cent in the price of lino- leums by one of the leading local mant- facturers. Demand is so heavy toda that all orders are received subject to ability to deliver before September. BROCKTON, Ma: vey of the shoe showed that in general they are work ing at 88 per cent of capacity, with some plants on a 100 per cent sched- ule. ATLANTA, March 27.—Wholesalers in' the southeast have béeen rushed in the last few days getting off final fill-in orders for the Easter trade to country retatlers. The last week among retailers has been the best since Christmas. PITTSBURGH, March 27.—The latest Jones & Laughlin river fleet, loaded With steel products, made a record run between here and Memphls, making the trip in 175 hours, as compared with elght days, the best previous' record. The tow made an average of 6.8 miles over the 1,193-mile trip. Barges were drop- ped at Loulsville, Evansville and Cairo and the steel removed to railroad cars for shipment as far west as Kansas Nebraska and Wyoming and to south ern ports. CLEVELAND, March 27.—Steel ac- tivities are eating deeply Into ore stocke. with" March requirements estimated to- Gay at 5.000.000 tons, as against 4,670, 787 in February and 4,998,578 In Janu- ary. On March 1 there were 1,380,891 tons less at the furnaces and on docks than on that date last vear. About 1,000,000 tons will be shipped from lake docks to the furnaces before the end of this month. tod of — If a little liquid starch is added to the water with which doorsteps are washed, the surface will mot be spoiled by raindrops. LT A measure to give women equal political recognition in party orga. zation has been defeated in the Kan- sas legislature.