Evening Star Newspaper, April 10, 1923, Page 22

Lo ® FINANCIAL. RAILROAD SHARES . AGAINTAKEN UP Sugars Also in Strong De- ‘mand in Stock Market. Review and Outlook. 0% 14% % 1% 74 109% 49 4% 28% 45% 48% 9TH 108 Air Reductlon. . Ajax Rubber. Alaska Gold... . Alaska Juneau. Allied Chem. ... Allied Chem pf.. Allis Chalmers. . Allis Chalm pt.. Am Agr Chem Am Beet Sugar. Am Bosch. . . A4TH Am Can. 3 Am Canpf...... 108 Am Car & Fay. . Am Chain A. Am Chicle Co. .. Am Cotton Ofl. . | Am Cot Ofl pf... Am H & Leath.. tAmTee......... Am Internatl... Am La France. . Am Linseed. Am Linseed pf. . Am Locomo. ... Am Metals. .. Am Radiator. Am Roll Mill pf. Am Safe Razor. . Am Ship&Com. . Am Smelting. Am Smelt pf Am Snuff Am Steel Am Sugar.. Sugar pf. Sumatra. AmT & Cable. .. Am Tel & Telg. . Am Tobacco. ... Am Tobac (B).. Am Water Wks., Am WWkK6% pf. Am Woolen. .... Am Writ Prpf.. Am Zinc&Ld pt. Anaconda...... Ann Arbor pt. Arnold Co.. Asso D Good: Assoclated O Atentson pf. Atlan Bir&Atl. . At] Fruit ctfs. .. Atlantic Gulf. Atl Gulf pf Atlantic Ref.... Atlas Powder. .. Austin Nichols. . | Austin Nich pf.. | Auto Knitter... Baldwin Loco Ralto & Ohio. Balto&Ohio pf. . Barnesdall (A). Beechnut Pack. Beth Steel. . Beth Stl 7%(n). . Booth Fish. .. .. Br Emstl2d pf . . Bklyn Edison. .. Bklyn Rap Trn. Bklyn R T ctfs.. Brown Shoe. ... Burns Bros (A). Burns Bros (B). Butte Copper. .. Butte & Super. . Caddo Oil. Calif Pac’ . Calif Petrol. Calif Petrol pt.. Callahan Canad'n Pa Case (J 1) pf Central Leath Cent Leath pf Century Rib Mills Cerro de Pasco. . Chandler Mot. .. Chesap & Ohio. . Chi & Alton..... Chi Great W pf. Chi & EIll pf. Chi Mil & St P Chi MII&StP pf Chi & Northwn. Chi Pneu Tool. . Chi RI& Pac... Chi R &P6%pf. . Chi RI&P 7% pf. Chile Copper. Chino Copper. . . Cluett Peabody. Coca-Cola. . Columbia Gas Columb’a Grap. Col Graph pf .. Comp Tabulat. . Cons Cigar. Cons Cigar pf Con Gas new Cons Textile ContCan....... Cont Insurance. Continental Mo. Corn Products. . Cosden & Co Cosden pf Crucible Steel Cuban-Am Sug. Cub Cane Cuba Cane Cuban Dom’can. Davidson Chem. De Beer: Del & Huds D Lack & Wstn. Detroit Edison. . Dome Mines. ... DuSS & Atlan.. Dupont (E1). Dupont deb. 89% Eastman Kod... 113% Elec Stor Bat. .. 64% Elk Horn Coal .. 15% Emerson-Brat. . 5 Emerson-B pf... 27 Endicott-John.. 72% Erie.. .22 Erie 1st pf... 19% Brie 2d pf . . 13t Famous Play... "88% Famous Play pf 9714 Fd Mines&S pf. . Fif Av Bus wi Fisk Rubber. Fleishman : Freeport Texas. . Gen Am Tk Car. Gen Am Tk pf Gen Asphalt Gen Cigar. Gen Electric Gen Motors. Gen Motors pt. Gen Mot 6% deb. Gen Mot 7% deb. Glidden........ Gimbel Bros pt. Goldwin Corp Goodrich. . Goodrich pf. Goodyear pf. Granby Consol. . Gray & Davis. .. Gt Northern pf.. Great Nor Ore Guantana Su. Gulf M & Nor pf. Gulf St Steel.... Guif St1stpf . Harbishaw Cab. Hayes Wheel. Hendee Mfg Homestake. . Househ’d Prod. Houston Ofl. ... Hudson Motors. Hupp Motors. 0% 14% % 1% 73% 109% 48% 94% 28% 45 BY STUART P. WEST. Bpecial Dispateh to The Star. NEW YORK, April 10—The princi- pal moves In the market today were again on the side of advance. One of the incidents of the day was a slight revival of Interest in railway shares. Pittsburgh and West Virginia and Pere Marquette were bid up sharply on fairly large transactions, the motive in both instances being the expectation of dividends before the end of the vear. Despite repeated discouragements, the street insists that New York Cen- tral will raise its dividend at the June meeting. While the buying Mmovement lasted in the railway sec- tion this stock was one of the leaders, 01l stocks felt the effect of heavy realizing, all except Philllps Pe- troleum, the pool in which was able to get its speclalty up at one time 1% points. Steel shares were scarc iy affected one way or the other hy the 11 per cent wage increase. This action had been thoroughly antici- pated. Sugars in Brond Demand. Sugar stocks were In demand again for awhile. following another new high record for the year established by raw sugar prices. International Paper was one of the few weak spots. The street had Jooked for a bad showing in the 19 report, but was not quite prepared for such deficit as was a tually disclosed. The management always known for its extreme co servatiam, has charged off losses T morselessiy. In consequence, while it reported a deficit of over $5.000.000 on the year. and a total profit and loss surplus of $14.802.000 against $32.815.000, at the close of 1920, these results repre- sented the situation at the very worst. Now, as the president says Etatement to s holders, tions have vastly improved in many ways. the demand for paper Is large. the labor conditions are harmonious and the company Is on a profitable basis. in his “condi- Review and Outlook. The three items in the news of the @ay which might have been expected to have a bearing upon the markets were the government crop report i: sued after the close of business Mon- day, the 11 per cent increase in steel wages and the unfilled tonnage state- ment of the United States Steel Cor- poration, showing a small increase for the month of March in orders on the books. As a matter of fact none of these incidents had much effect. Wheat options broke for a time sharply, but this did not mean that the grain trade was surprised at the department’s figures. Rather it was the natural reaction which would :ome about in any speculative market on the publication of news that had aeen ful counted. The stock market was quite undis- urbed by the estimates for winter wheat, showing despite the large in- rease in acreage a probable crop of sixty million bushels less than last year and over a hundred million Dushels less than two years ago. In former times this might have oeen used as an argument against the shares of railroads traversing the winter wheat states. The reason why it had no such result today was sim- ply that under the new methods of invesetigation now employed by the Department of Agriculture, it often happens that the April calculations turn out altogether too low when the crop is harvested in June. Steel Shares Quiet. The steel trade has so 1 been looking for an upward revision in wages that the announcement creat- i no surprise. The market has had a1l time to consider the effect upon erating costs and it is this, no doubt, that is accountable for failure _o enthuse over the data regarding production of stecl and the advance fa_prices. The increase in the Steel ion’s unfilled tonna ¥ §43:tons for the month of March. But (he remarkable thing Is that there should have been any excess at all of ‘incoming orders while the steel plents were being operated at prac- ticully full capacity. The stock m: t of the day paid little or no attention to occurrences on the outside. Professional traders, with the fleld to themselves, experi- mented during the forenoon on the side of advance. bidding up a few industrial specialties and two or three of the rails on which there is considered to be a fair prospect of favorable dividend action. Then, not| having succeeded in obtaining a fol- lowing for these moves, they turned their attention to the other side, luunching a sharp attack against some of the recent favorites in the oil group, and in this way unsettling the rest of the industrial list. Phillips Petroleum Active. Phiilips Petroleum was a feature of the oil group. Earnings said to be at least $20 a share have played a large part in the advance, while the forth- coming directors' meeting at the end bf April is expected to result in a stock dividend of probably 50 per cent. with the present 32 annually maintained. Continued strength in Auto Knit- ters, which carrfed it to a new high price for all time, was based on a better appreciation of the earnings power of this company, and the fact that directors at their meeting the last week in April are expected to de- clare an initial dividend of 75 cents quarterly or at the rate of $3 a year. Prices Drop at Close. Some pretense for the selling move- ment on th& stock exchange was found in the hardening of call money rates. Renewals of standing loans were fixed at 5 per cent, as against the 41z per cent quotation in force for nearly a week, and loans for the day only were made in the afternoon at 6%, But these advances had no signifi- cance whatever for the underlying credit situation. The plain fact about the stock mar- ket was that the public, for the time being at least, has ceased to be re- sponsive to favorable trade news and to predictions of larger dividends. Consequently after days of futile ef- fort to get prices up the professional ‘element tried their hand on the other side with a moderate degree of suc- cess in stocks like the oils and equip- ments. Hydraulie Stl FOREIGN SILVER DROPS. = Illinois Central. Slump of Cent an Ounce in New |Indlahoma... York Market. Indian Refining. Inspiration. NEW YORK, April 10.—The price |IntCement.. of foreign silver in the local market | In Combust B today dropped 1 cent an ounce to 653 | Int Harvester. cents, or nearly 31 cents below the |Int Harvester pt vear's high, established less than a | Int Mer Marine.. month ago. Bullion dealers declared | Int M Marine pf. this drop was in further reflection of | Int Nickel the recent announcement of the di- |Intl Paper...... rector of the mint that purchases of | Intl Paper (sta). domestic silver at §$1 an ounce under | Int Shoe the Pittman act would cease July 1. |Invinoibi thus throwing the domestic metal|Iron Products into competition with that mined |1y Products pt, . Shrows Island Oll...... London cables today reported that Indian bagars ordinarily buyers of | Jewel Tea. silver in London at this time of the | Jones Te: g Year, were offering silver for sale. |Jones& L'gh pf. BAR SILVER QUOTATIONS, |kansasfcut Kayser (Julius) LONDON, April 10.—Bar sllver, | Kelly-Spr Tire. 31 11-16 pence per ounce; money, 2% | Kelsey Wheel... 108 per cent. Discount rates—Short bills, | Kennecott.. 40% 1%a2% per cent; three months’ bills, | Keystone Tire.. 9% *REW ORI Norit 10— Foreign bar | LgIOde G881 . April 10.—Foreign bar Wilver, 66%; Mexican dollach 43%. | ake B & W pt 39% 80% 847 33 9% 90% 28 28% 73 . TT% . 108% 2% 9% 82 83 78Y% €6% 12 461 100 11% 127% . 58% 106% 8% 843 173 61% 10% 81% 26% - 114 121% 1064 43 2% 122 105 1% 40 20 70 3% 664 29% 27 69 14% % 1% 73% 109% 48% 91% 28% 45 47% 95% 108 179 25 7 12% 23 11% 105% 314 12% 31% 51 133% 51 831 97 84 17% 63% 100 144% 29 79 107 29% 54 1224% 152% 151 87 584 100% 114 120 106% 43 2% 120% E9%4 112% 63 15% 5 27 T2% 12 193 13% 8T% 9614 51 8% 18% 28Y% 18% 6814 100 1% 70 87 64 29% 27 3% 118% 14% T4 37% 40% 26% 88% 114 9% 39% 14% b1% 69% 0% 17% 5215 108 % 224 60 107% 1% 38% 5% 108 40% 9% 81 68 89 3% % 25% 93¢ 39% 15 B50% 69% T0% 18 54% 103 % 22% 61 107% 1% 39 57% 108 40%, 9% 81 « 68 THE BVENING ST. NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office For Revised Close of Stock Market see 5:30 Edition of The Evening Star. ' Open. High, Low. Close. Lee T & Rubber, Lehigh Valley Lig & Myer (B Lig & Myers pf.. Lima Locomo. . . Loews Inc. . Loft Ine. ... Loose-Wiles. ... Lorillard (P).. Lorillard pf. . Louis & Nash. Mack Trucks. ... Mack Trucks ist. Macy Co. Magma Copper. . Mallison & Co. .. Manati Sugar. .. Man El inv guar. Market St it 2d.. Marland OI1. . Martin-Parry. .. Mathison Alkili. Maxwell (A). Maxwell (B) May Dp Stores. . May Dpt Strpf. . Mclntyre Por. .. Mex Shd etfs Miami Copper-. Middle St Ofl. ivale Steel. .. Minn & StL (n). Min St P&SS M. MoK & T (new). bf LA (n) cific. . cific pf. Montg'y W'rd Mobn Motors. Mother Lode h Motors. ... t Biscuit wi.. tl Biscuit pf. . £l Dept Store t1 Enamel tl Lead. evada Copper. Or Tex&Mex. . Y Air Brake. . Air Brk(A).. Y Central. . " Dock pf.... H&Hartfd.. O&Western. N Oklahom Prod. . Ontarto Silver Owens Bottle. .. Pacific De Pacific Oil...... *ackard Motor. ckard Mot pf. Pan-Am Pete. .. Pan-Am P (B).. ndle...... elop. Pennsylvania. .. Penn Coal & C'ke People'sGas. ... Peoria & Pere Marquette. Pere Marq pf. Philadelphia Co. Phillips Jones. . Phillips Pete. ... Phoenix Hosiery. Plerce-Arrow. .. Pierce-Ar pf. . Pierce Oil Pitts & W Va.. um Cereal. . um Cer pf. . Produc & Ref... Pub Pullman Co..... Punta Alegre. .. Pure Oil. Pure O11 § Rand Mines. Rap Tr Sec w.i.. RapTr Sec pf wi Ray Con Cop. eis Robert pf. . Remington. .. .. Reploxle Steel. . Tobac (B).. Royal Dutch. ... St Joseph Lead.. St L&San Sran. . St L&San Srpf.. St L Southwn... St L South pt. San Cecil Sug. avage Arms. .. aboard Air L. . eab'd A L pf. ars Roebuck . . weca Copper. . hattuck-Ariz. . Shell Tr&Tran. . Shell Union. ... Shell Union pf. . imms Petrol. .. immons. ... Sinclair Oil. Sinclair pf. Skelly Oil. ... Sloss-Sheffield. . 0 Porto Sugar. outh Pacific outhern Rwy. . Southern Ry pf. Spicer Mfg Co. .. St Oil of Calif. .. St Oll Calif rts. . Stand Oil of NJ. StOil of NJ pf.. Stew't-Warner. Stromb'g Carb.. Studebaker. Submar’e Boat. . Superior O : Superior St pf. . Sweets Coof A.. Tenn Copper. Tex Company. .. Tex Gf Sulphur. Tex & Pacifie. .. Tex & PCOIl. .. Tide Water Oil. . Timken Bear. .. Tobacco Prod... Tobac Prod A. .. Tol St L&W pf.. Trans Cont Oil. . Union Bag & P.. Union Pacific. ... Union Pac pf. Un Alloy Steel.. United Drug.... United Fruit. ... United Ry Inv. Utd Ry Inv pf. .. Utd Retail Strs. U S Food Prod.. U S Hoffman M. U S Indus Alco. . U S Realty U S Rubber..... U S Rub 1st pf. U S Steel.... U S Steel pf. . Utah Copper. Utah Securities. ‘Vanadfum Cop.. Va-Car Chem. .. Va-C Chem pf. Va-C Chem(B). Va Ir Coal & C.. Vivadou. ... Wabash........ ‘Wabash pf (A) Waldorf Sys.... Web & Heilbrn.. Wells-Fr Exp. Western Md... .. Western Md 2d West Pac pf.... Westhse E1&M Wheeling&L E White Eag Oil.. ‘White Motor. White Oil...... Wilson Co...... Willys-Overld. . Will's-Overl pt.. Wisconsin Cent. Woolworth. . Worthington. .. Wright Aero. 1pm. Open. High. Low. Close. 29% 64% . 198 114% 1% 19% 8% 55% 164% 114% 142 9214 6% 6% 354 20% 65 198 114% 1% 19% 8% 55% 164% 114% 43 928 98% 66% 85% 84% i 41% a2 56% 36% 574 68 19% 73 116 19 18% 17% 27% 11% % 68 14% 39, 16% 42% 24 27% 1% 108 42 4 120% 64 32% 37% 69% 128% 151 98 38 49 815 50 19% 184 52% 110% 23% 7 20% 64% 188 114% 0% 19 8% 55% 163 114% 142 90% 96% 68 85 83% 70 41 42 54% 85% 5T 56% 19% 72 116 18% 18 17% 27% 1% SL’VA 7 €8 135 384 16 42 28% 27% 11% 107 41% 120% 87 68% 127% 16% 97 26 4815 3% - 215% 215% 214 ; 29% 65 198 114% 71 19 8% 56% 168 114% 142% a1 98% 66 35 84% I 41% 45 54% 26% 57W 57% 19% 72 116 19 18 17% 32% 214 28 BONDS INCLINED T0 HEAVINESS Liberties Duli—Foreign List Does Better—New Of- fering Taken. BY GEORGE T. HUGHES. Special Dispateh to The Sta NEW YORK, April 10.—Bonds were inclined to be heavy today, & con- ditlon more evident, perhaps, in the trading over the counter than in the prices quoted on the exchange Deal- ers were reluctant to take on any new commitments and anxlous to lighten the load taken on last week. The trouble seemed to be that gen- uine Investment buying as far as high-grade securities were concerned was on a discouragingly small scale. At the same time there seemed to be plenty of money for new offer- ings, especlally of the semi-specu- lative class. For instance, a block of mnew stock of the International Telephone and Telegraph Company, controlling the telephone business in Cuba_and Porto Rico and interested in_ South ~Ameries, was oversub- scribed many times. Libertys Slightly Lower. Libertys were dull and for the most part slightly lower. Very little busi- ness was done in first mortgage rails. Burlington 5s and Central Pacific 4s lost fractionally. St. Louis Southwest- ern first 4s gained. Atlantic Coast Line 7s lost. Among the utilities there was considerable selling of Niagnra Falls Power 55, while the same util- ity’s 68 went up about as much as the lower coupon rate bonds went down. St. Paul general 4lis gained over a point then reacted. 3 lative Issues Missouri Pa- rific general 4s had a run-up, despite the recent poor earnings stitements The same was true of U. S. Rubber Honds Gain. On the other hand, the Missouri, Kansas and Texas adjustments, which have been so active, reacted on profit taking today. The Virginfa Carolina 7s rallied somewhat. A slight gain was recorded by U. S. Rubber 5 but this bond still Jooks very cheap considering the very strong position revealed in the bal- ance sheet accompanying the annual report recently published. There was little change in the for- efgn list. French $s equaled their high for the year. Anton Jurgen 6s had another Tun up. The Unlon Trust Company at Cleve- land announced an oversubscription of the $3,000,000 in Trumbull-Cliff's Furnace Company first 6. BANK TAKEN OVER BYSISTERCONCERN Standard National Buys Banking Trust and Mort- gage Company. Negotiations have been concluded for the purchase of the Trust and Mortgage Company by the |Standard National Bank. effective with the opening for business tomor- | row morning. National to operate the banking of- ice at 1409 H street northwest as the uptown branch of the Standard, with an almost entire change of personnel. The Banking, Trust and Mortgage Company was organized about two vears ago, with §200,000 stock, a par val- ue of $20 a share, sold at §25, the added $5 a share being for organization and promoters’ expenses. 1t Hax Deposits of $220.000. For some time negotiations have been under way to dispose of the com- pany, overhead charges and some un- fortunate connections making a change desirable. Deposits Guaranteed. One or two other would-be buyers made bids for the corporation, but the controller of the currency gave h approval to the plans advanced by the Standard National Bank and with the required permission to maintain the banking offices as a branch. ! Deposits of the Banking Trust and Mortgage Company are guaranteed by the Standard National dollar for dollar. K At the same time the Standard Na- tional assumes the lea. and acquires the fixtures, furniture and other cer- tain assets. = It is understood that William Nor- ris will be added to the clerical force of the up-town branch, with the title of assistant cashier, and that he will probably be made mana- ger at a later date. 3 A. S Gardner, president of the Standard National Bank, proposes to give much of his time to the branch bank in the immediate future. ‘The Standard National Bank is one of the younger, progressive institu- tions of the city, housed on the corner of New York avenue and $th street northwest. It has a capital of $200,000, a surplus of $40,000 and deposits of $1,000,000. Officials of the bank believe that the establishment of the branch is necessary to care for Increased busi- ness and to accommodate up-town customers of the parent bank. = TEXAS ONIONS ARRIVE. First New Crop Shipment in Poor Condition. Special Dispateh to The Star. NEW YORK, April son's first shipment of Texas new crop Jellow and white onions was received. The stock was poor. Sales ranged at from 25 cents to $1.25 per crate of about forty pounds. The receipts of sacked old crop onions were mod- erate from all sections, with the early morning demand exceedingly light and the market generally dull and weak. The receipts of old crop white potatoes were liberal, with the mar- ket steady only for fancy, well graded potatoes in_ good condition, whereas r to ordinary continued to meet exceedingly light demands. CUT DOWN CAPITAL. MONTREAL, April 10.—Sharehold- ers of the British Empire Steel Cor- poratien have ratified a resolution ap- proving the reduction of the au- thorized capital from $500,000,000 to $250,000,000. This involved reducing the B per cent cumulative first prefer- ence astock from $100,000,000 to $60,- 000,000, the 7 per cent cumulative sec- ond preference stock from $135,000,- 000 to $75,000,000. The 7 per cent non-cumulative and preference stock of $15,000,000 is eliminated. TOBACCO OFFICERS. 9% 9% 9% 9%| \wINSTON-SALEM, N. C. April 10— Call Money...... HOURLY SALES OF STOCKS. 11am.,... 187500 12 m. High. Low. Last, | At 5% ++ 421600 2p.m..... 5% annual meeting of directors of the J. Reynolds. Tobatco Com- pany heresW. N. Reynolds was named resident; Bowman Grey, James A. gny and T. H. Kirk, vice presidents; 646700 | 3. E. Mothinger, secretary, and R. D. Banking, | It is the intention of the Standard | 10.—The sea- I 'AR, WASHINGTON, D. ¢, TUESDAY, APRIL 10, 1923. [ vort BONDS s ] Received by Private Wire Direct to The Star Office. For Revised Close of Bond Market see 5:30 Edition of The Evening Star. -(Bales ars in $1,000.) UNITED STATES BONDS, ctions represent thirty= seconds. Example: 101-1 means 101 1-82.) Sales. High. Low. Closs. Lib 3%s . 195 101-4 101-1 101-3 Lib2d4s....." 1 97-20 97-20 97-20 Lib 1st 4%y 18 97-30 97-20 97-30 Lib2d4%s... 303 97-26 §7-21 97-26 Lib3d 4%s... 217 98-20 98-15 98-18 Lib4th 41(s.. 497 98- 97-26 97-31 Victory 4%s.. 96 100-2 100-1 100-1 US4%s1952. 140 997 99-2 99-7 FOREIGN. Sales. High. Low, Close. 101% 102 99% 99% 99% 95% O5% 95% 100 . 99% 100 111% 111% 111% 91% 90% 914 8% TR% T8% 82 81% 82 93%, 93% 93% 1017% 101% 101% 100% 100 100 100% 100% 100% 991 991 99% 29 98% 99 103% 103% 103% 102% 102% 102% 103% 103% 103% 4815 48 4816 90 89% 90 9% 99% 994 88% 881 884k 108% 108% 108% 9% 9T% 9Th 94% 94 94% 9415 94% 94% 98% 9RY 98 941, 94 94% 96 054% 96% 90'% 90% 90% 925 923 923 3 92% 9214 024 811 u K 81% 81% 7.126 82% 8216 . 2 784 7814 - 78 8 561 55% 36 36 9954 99% 1107% 1107% 98 74% 98 4% 8% 106% 8% 106% 1003 9214 100% 93% 95 985 981y Argentine 75 Relgium 7% Belgium 6s Belgium 8, Bern 8s, Bollvia 84 Bordeaux 6. Brazil 75 Brazil 8 Brazil 73 Canada 55 1926, Canada 5%s 1929 Canada 58 1931, Canada 551952, .. Chile 8 1946, Chile 85 1926, Chile 851941 : Chinese Gov Ry 55 Copenhagen 5%s. Cuba 538 w i Caechoslovakis §s, Denmark gs. Denmark gs. Duteh East T 6547 Dutch East I 65 ‘62 Erench Gov gs. rench Govt 71 Haitl 6s ceta, o, Holland-Amer Gs, Japanese 1t 4155, Japanese 2d 4155 . Japanese 43 Jergen U M 64 Lyons 6s Marseilles 6a Mexico s Mexico 4s. .. 1 Notherlands 6 Norway 8¢ Norway 6s. Paris-I Prague an 851946 Rio de Jan 8s 1947, Rio Gr Do Sul 8s Sao Paulo,City,8s. . Sao Paulo,State 8s. 7 Seine, Dept of. 7s.. 12 Serbs Crotes Slo 8s 13 Sweden 6s........ 10 Swiss Confed 8s... 7 Tokio 5s. .. - 20 Ud Kingm 5% '29." 93 Ud Kingm 5145 '37 229 Uruguay Ss e 2 MISCELLANEOUS. ‘t;uxA)luhhl:r 8s... 22 97 96% Am Agr Chem Ti4s 12 Am Cotton Ofl .‘.:& 3ol lgEU, Am Smlt&R.-1st 5s. 881 102 2 115% 96'% 91% 102% 97y AmT & Tov 6s Am ] Am T & T el tr 4s Anaconda cv db 7s Anaconda 1st 6s Armour & Co 41, Atlantic Refin Bell Tel P Beth Steel rf ison 7s D Bilyn Ed gen 5 Bush T Bldg 58 '60. Central Leather 5s Cerro de P'asco §. Chile Conper 6s. . . CinG& E5%s'62. Con Coal Md 1st 53 Cuba Cane cv d 8s. Dery (D G) 7s. . Det Edison ref 9 Du Pontde N 713 Duquesne Lt Tizs. 3 Duquesne Light 65 3 Cuba Sug 7 mpire F&G sk Rubber 8s, .. Gen Refractes 6s. . Goodrich 6s. ... { Goodyear 8s 1931.. | Goodyear s 1941. Humble O&R 5% ilndi:ln:l Steel 5. . {Int Mer Martne 6s. { Int Paper 1st 5s A. {Int Paper 1st 58 B. { Julius Kayser Ts. . Kelly-Spring Ss... Lackawa S 5s | Lizgett&Myers Lorillard | Manati Sug sf Tigs Marland O 78 w. Marland Ofl 8s w Mexican Petrol Ss. oS et 0 5 - Brr-en £ 20 . 4 Midvale Steel 5s Montana Power Morris&Co 1st 4155 at Tube 1st “ng Tel IS e mumaBoaniizanal Y Tel 6s '41. Y Tel 4 - hila Coref 65 A. . Plerce-Arrow Ss.. Producers & Rf §s. Public Service 5s. . Punta Alegre 7 Sinclair Oil 7s Sin Crude 0il 5 n Pipe Line 5 Oil of Cali Por Rico Sug 7s eel & Tube Ts. .. Tenn Elec Pow 6s. Tide Wat Oil 6s. Tobacco Prod sf 7s Union Bag & P 6s. Unit Drug cv 8s. S Rub 1strf 5s. . U S Rubber Tis. US Steel s f 5s tah Pow & Lt 5s. Va-Car Chem 7s. . <19 Car Chm 7l3s v 20 Warner Sugar 7s.. & West Union 6%s.. 7 Wickwire Spen 7s. 5 Wilson & Co 1st 6s 9 Wilson&C cv 7%s. 21 Wilson & Cocv 6s. 9 95% 90% 83% 102% 108% 94 99 100% 95% ULTIMATUM TO DEMPSEY | FROM 127 LEGION POSTS By the Associated Press. MILWAUKEE, Wis., April 10.—The state department of the 127 American jLegion posts of Montana has given Jack Dempsey, world champian pugi- list, until next Saturday at noon to acvept or reject the $200,000 offered Ithe champlon to meet Tommy Gib- {bons in a fifteen-round contest at Shelby, Mont., on July 4, according to Mike Collins, promoter for the Amer- ican Legion, who has Teceived .a tele- gram to that effect, All demands made of the legion by Dempsey have been met, Collins said, adding that the Montana men behind the proposed championship affair are becoming tired of further delay in closing negotiations. Skeptical Jury. From Judge. John and James met for the first time for some while. - . ““Wherever have you been, John?” sald James. “Haven't been laid up, have you?” “Yes; I've been'laid up for a bit." “You're not looking fit; hope it's nothing serious?” “Oh, nothing much—but this 1s’ the: first -time I've beem out for three months. “Really? What was wrong?”' “Nothing, really, omnly the Jury wouldn't Believe it.” RAILROADS. . Bales, High, Ann Arbor 4s. . 1 68' Atchison gen 4s. 86% Atchison adj 4s 8% Atlantic C L 1st 85% Atlantic C L cl 48 79%- B&Opriniys. 95% 1% 101 79% 80% T4% 4% 63% 5% 924 92 87% 881 114% 111% 8% 84w 89 87% 825 27% 85 29 79% 51 Luw, Close. 63 63 86 86 78% 78% 86% B85% 9% 9% 96% 95% 77 7 100% 100% 79% 79 80% 80% 3% 4% 94% 94% 634 63% 75% 5% 91% 91% 91% 87% 884 114% 111% T84 84 88% 87% Canadian North 75 Canad North 634, Canad Pac deb 4s. . l':nnlrnl Pacific 4s. Ches & Ohlo cv ps. Ches & Ocv 4145 Ches & O gn 4145 Chi & Alton 31 Chi B&Q gn 48'58. Chi B&Q 1st rf gy Chi& E1m £n 5s. Chi Great West 4 2»?.‘\'?4’5;“;{“ Sd 4s. Chi M ok 2 20 141 34 10 11 ChiUn Sta 632, . 2 Chi & W Ind cn 48, 21 CCC&StL T 6y A Cleve Term 5145, Colo & Sou 414y Cuba R R ps. Del & Hudson 5 Den&Rio G con ?s D&RGIstress. Det United 4345 16 1st con 4. ie gzen 4s. Erlé conv 4s ). Gr Trunk sf db 6s. Gr North gen 7s Gr North gen 51 Green B& Wdb B. Hud & Man ref 5s. Hud & Man aj 5s. . 111 Central ref 4s. 111 Central 515« Int Rap Tran 5s. .. Int R Transit 7a Rew 1 alGanbon ~ Kansas City Kansas Cit 7 ko Shore 4s 25, calley uni 4s. &h 7s. ash 51 Manhat Ry cn 45 Market Sten § Mil E; MK&Tprins MK&T4sB.. MK&T6sC. . MK & T adf 5s.. Mo Pacific 6 Mo Facific gn NOTex & Min N Y Cent deb 6s NY<Centriss New Haven c d 6s. New Haven 7s. New F n 7s 1) N Y W & Bos 43s. Norfolk & W cn 4s. Norfolk & W ev 68 Northern Pac 3 Northern Pac ds. .. Northn Pacri6s. . Northrn Pe 5 ret O Short L cn 5= '46. Ore Short Liref 4s. Ore-Wash Istrf 45 2 Pennsyl gen 5. ... 30 Pennsyl gen 413s.. 3 Penn e Pennsyl ga 14 9 Pere Marq 1st 5s.. 1 Rapid Tran 6s wi..219 RIArk & L4ts.. 3 StLIM&S R&G 4s. 6 StLIM&S 4s" 45 17 -.169 2 5t 5 3 4 3 2 1 5 3 6 2 1 iz San A & Arn Pds.. Seab’d A Lref 4s.. Seab'd A L adj 5s 3% ab’d A L con 6s. . 65 91% 41 81 94 €6% 101 59% 56% 905, 8 9% 98% 95 85 Sou Pacific clt 48 uthern Ry 1st§s 6 Southern Ry gn 4s 18 Southern Ry 6138, 12 Third Ave ref 4s. Third Ave adj is Union Pac 18t 4 Union Pa Union Pac Virginia Wabash 1st Wabash 2d Western Md 4 Western | 9514 8519 615 61 80 &0 TOTAL SALES (Par Value): 2928000 12 noon. 4 763000 6264000 2p.m.. 7302000 95 854 61 £0 COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SAULT STE. MARIE. Mich., April 10.—There are 32,000,000 bushels of grain at Fort William and Port Ar- thur, on the Canadian side of Lake Michigan, awaiting shipment when navigation opens to those ports American Atlantic ports are making strong bids for the handling of a part of this tonnage to Europe, ST. LOUIS, April 10—Sales of elec- trical apparatus have increased stead- ily this month, with the heaviest de- mand coming in the radio equipment lines, household appliances and build- ing equipment. DETROIT, April 10.—Canada is reaching out into the United State: for a share of the truck busin The Gottfredson Truck Company hat established a branch here to compete for American business. The Denby Truck Company of Detroit has reor- ganized and again is seeking orders. BOSTON. April 10.—The Ford Motor Company has been a heavy buyer of fabrics for tops and curtains in the last ten days, and has filled the larger part of an order for 15,000,000 vards of rubberized material. PHILADELPHIA, April 10.—As a result of a decrease in European sup- ply, due to the Ruhr situation, local dyestuff manufacturers are shipping heavy orders to Europe. One firm is nding about 900 tons of dyestufis a day, while shipments by another company are running 300 tons daily. NEW_ORLEANS, April 10.—Sales of straw hats are assuming large pro- portions throughout the south today. The panama braids and styles are in special demand. i WORCESTER, Mass., April 10.—The Wyckwire Spencer Steel Company is rushing production today to meet de- mand for its various wire products. Orders still unfllled are heavy enough to keep the plant running at top speed for months. —_— Mrs. R. A. Henderson, a widely known educator, has the distinctio of being the first woman of Virginia to be regularly nominated on the democratic ticket for & seat in the legislature. | 937% | 3 i showed some loss. FINANC Grain, Produce and Live Stock WHOLESALE MARKET. Decreased receipts of eggs, partly due to the fact that hens are setting, sent the price up 1 cent a dozen this morning. Eggs are In demand by packers, it is stated, and the prices at which they are being put in stor- age probably will mean higher prices next winter than heretofore. Cold weather is reflected in the ves- etable market. Vegetables from near- by places are not as plentiful as they should be, dealers say, but probably will be plentiful in the next two or three weeks. The butter market remains firm, and there {s a plentiful supply of fine quality meat on the market. Coarse grades of meat are scarce and In de- mand at advanced prices. Eggs—Strictly fresh, sclected, can- tdled, per dozen, 25a26; average receipts, 24; Southern, ¢ Live poultry—Roosters, per 1b.. 1 turkey, per 1b,, 30a40; spring chickens, per Ib., £0a83; winter chickens, per 1 40a50; keats, young, each, 60; fowls, per 1b., 28 Dressed poultry—Fresh-killed spring chickens, per Ib. 76a80; winter chick- ens, per'b,, 45a50; hens, per 1b., 82a33; roosters, per 1b., 19a20; turkeys, per Ib., 46450; keats, voung, each, 70a80. Live stock—Calyes, choice, per Ib. medium, per 1b., $a9%; thin, per 7. Lambs, spring, per Ib., 20. Live DIgS, 3.00a5.00 cach: live hogs, per Ib.. 9. Green fruits—Apples, per bbl., 2.00a 6.50. California oranges, per crate, 4.50 £5.5 Florida, 0a6.50. Lemons, per Bo% A0tad.o0 efruit, 3902450, © egetables—Potatoe: A By Potatoes, per bbl, o, 1. , North Carolina, 0a2.50. Lettuce, per 50a2.00; Romaline le’ Teeberg let- 0. Nearby 50; southern. 10; 1b. crate, tuce, tuce, per cabbage, per bbl. atc, Florida, basket pers, pe barrel, . 50, z Florida, ). Flofida lima GRAIN AND PROVISIONS. BALTIMORE, April 10 (Special) Potatoes, white, 100 1bs 5 Swects ba7s Yams, bbl, 1. ‘Asparagus, doz., 4.00; Beets, 10 hamper, * 1.50a2.50. 50a Cauliflower, crate, 1.7 3.00a500. Horseradish, ‘dbhage, basket, 100, Pep- dishes, bu., 1.0042.00, Squash, crate, 1.50a4.00. Appl 1004 Lox, Orang: Strawberries, qt., Selling Prices at Wheat quotation 1.40%, nomi Spot, 1o ¢ arlicky, ter. 2 red winter, spot, No. 3 red winter, : No. 2 red winter, nominal; No. 2 red cky. spot, no quotations; . nom Corn—Cob cor contract, new. 450 per bar $8 per bushel; No n, spot. 51: No. 4, no quotations; orn. vellow, No. 3 or better, 2 per bushel. ales— None Oats—White, No. 2 4 per bushel %0240 per bushel; No . 91% per bush- per bushel: : demand for range of 17.0 21.00 per ton. with general receipt ample for trade wants, . 1 tangled 1 wheat. 1 1, 14.00a15.00. TODAY'S CHICAGO PRIC CHICAGO. April 10.—Largel. ult of profit-taking wnward swing in pri ¢ dealings. was given impetus b that after five days’ thing of a set-back xpected. It was also contended that government figures on winter at conditions were probably the lowest that would be reported this The op which varied decline to 13 advance, t0 1.23% and July 1.301s to is followed by a decided gen- »p and then a moderate rally. “orn and oats receded with wheat. After opening unchanged to % lower, Y% to T the corn market underwent a decline all free longs Oats off. M rye. %, started unchanged to % 46467 Higher reflected market WHE ¥ - 10tations a rise in on hogs by the Low. Close. 18, 30 10, DAIRY PRODUCTS. BALTIMORE, Md.,*April 10 cial).—Live poultry—Young ens, pound, 35a36: small and horns, 25a30: winters, 40a45; spring- o0ld hens, 27a28; small and old roosters, < ' small, < guinea fowls, d_poultry—Capons medium, 38a40; small native thern Bufter—Creamery fancy, pound, a51; prints. 51a3; nearby cream- ladles, 40a42; roils, 38a39 pound, 42; slips store b 3 process butter, 4. CHICAGO LIVE STOCK MARKET. CHICAC April 10 (U ment big _packers holding 5 pound butch- 225 pound aver- i .50; packing s v 7.10a7.40: desirable 110 to 130 pound pigs, weight hogs, 8.00a8.35 8.45; light, 8.15a8.5 packing sow rough, 7.00a7 ., smooth, killing pigs, Cattle receipts. 9,000 head: slow; beef steers steady to 15¢ higher than Monday's close; killing quality plain; early top matured steers, 10.00; some held higher; bulk early sales, 8. 9. desirable handyweight steers getting best action; bidding lower ml% veal caives; butcher bul count; other c! bulk desirable dull; some heavy Eoing on export a sses generally stead bologna buils, 4.7 4.85; packers bidding around 8.50 on | good choice vealers; bulk stocker: and_feeders, 6. few lots half fat kind on country account late yes- terday, 8.65. ~. Sheep receips, bidding largely 20.000; opening slow: 25¢ lower on lambs no early sales; old crop lambs; six loads California sping lambs, with 26 per cent sorted out at 1 two loads 102-pound clip lambs, to shipper for export: sheep scarce, | around steady; one load desirable clipped ewes, 7.50; few heavy wooled ewes around 8.00; run includes about 5,400 direct to packers from other markets. Family Weakness. From Life. “You are descended from the grim, Fathers?” “I am, sir,” replled the impecunious citizen. ‘My ancestors came to this country 302 years ago and it's my firm belief that none of their descend- ants has ever accumulated enough money to make the return trip,” Pil- with | round, with | elling on the part of scattered | were | provision | Ked, 3; dairy prints 38a40; Depart- | IAL. HAG PAY BOOSTTORALT DROPIN QUL Steel Mills Now Expect tc Hold Common Labor—Oth- er Advances Expected. BY J. C. ROYLE. Speclal Dispateh to The Star. NEW YORK, April 10.—The in crease in wages to workers in th( steel mills of 11 per cent, announce¢ by the United States Steel Corpora tion and followed already by the larger independent manufacturers Will not serve greatly to increase th: production of steel. The most favor jable thing which may be hoped fron it, according to many unprejudicec observers today, Is that it will pre vent a fall in the volume of steel out put. The reason advanced for th stand is that immigration restrictior. have left a shortage of men whi normally would respond to the wag: raise and that the added 4 cents hour to unskilled workers is not su ficient to tempt laborers from othe industries. Wage Advance Discounted. The advance has been pretty thor oughly discounted. As has beer pointed out in these columns repe: edly, conditions in the steel industry have been such that the increas from 36 cents to 40 cents an hour t¢ unskilled workers could not be lons ved. Independents in most case simply awaited a lead from Unitee States Steel, and the leading pr ducer merely postponed the ar nouncement until the return fron of Judge E. H. Gary, chairmar d. The fact that Judg make the announce 7 from shipboard rather than on his landing, was th: only surp; to steel men that the move occasioned. Independents Will Follow Lead. There is no question that the othe; teel producers will follow the leac f the Steel Corporation. Those Whic! have not already done so probabl: will make their announcements be fore the end of this week. Some i dependents, however, &mong the some of the Mahoning valley plants have put in the increase from 36 to 4! cents an hour for common laborers When all the changes involved ar¢ made it is estimated that approxi mately 450,000 men will have beer affected. Purchasing power in the steel c ters will be correspondingly rai but most of the steel companies wil do little more than hold the men they already have on the pay rolls insteac of adding more. The United State: Steel plants now are working & about 93 per cent of capacity, but is doubtful if that output is raised tc any great extent. That has been the experience of those mills where the increases already are in effect Other Industries Bid Higher. Each spring there is an exodus o workers to outdoor jobs. Al time other industries’ are noi their activities to milt but are raiding the mils through wages far higher than the steel scals Tt is hardly possible that many work ed by 40 cents a1 here building cor fering 70 _cents for )t labor. The increase undoubtedly will tend u * individual efficiency ir nd it is on this factc however, highe Steel Prices Continue Upward. There is no sign of let-up in the jdemand for steel and steel product: and the price trend continues upward although no extraordinary advances re to be anticipated in the immedi te future. The reason for this hat the plants are most of then booked far ahead at present quots tions and are taking on little nen business The only { some_product: { premium ma rers are immediate market it such as sheets, is th Many manufac vily engaged fol ture delivery that they are making planning important extensions t( their plants. Even plants enlarget during the war are proving inade quate to meet existing conditions. 1r the Chicago district warehouses havt advanced bars, shapes and plates $2 1 ton, galvanized sheets $5, rivets $3 and pig iron 50 cents to §1 a ton. {COTTON PRICES UP IN EARLY TRADINE | Unsettled Weathe‘r and Foreig: Demand Help to Keep Mar- ket Strong. Later all deliveries iated Press. NEW YORK, April 10.—The cot market opened at an advance of § tt {22 points, owing to the continuet firmness of Liverpool and reports ol unsettled weather conditions in tht south. May sold up to 30.04 and Ju!jy 25 on the call, but at thes es the market again met consid. able scattering near-month liquid: tion, which had an unsettling eff during the early trading, May ea off to 29.93. or about 11 points fr Dbest. and there were smaller tions in the new crop months unde: tering liquidation. The tone of the market was stead ed by the favorable Liverpool ca- ! bles, with private advices reporting 1 gz0od export demand and a litth mprovement in Manchester, but th { reappearance of scatteripg liquidi- tion-around the 30-cent level seeme¢ to discourage fresh buying for long account. NEW ORLE April 10— tinued unfavorable weather over thy belt, a much better Liverpool markes than due and reports of more demant for spots in interior from botr Liverpool tremen combined tc put the price of cotton higher today In the first half hour of the sessior the trading months were sent 7 tc 2 higher than the close of May rose to 29.47 and Oc 2 NEW YORK. bids).—Ma pri yesterda tober to April 10 (1145 am 51; July, 29.05: Octo. : December, 25.12; January steady. NEW _ORLEANS, April 10 asked; July, 28.45 hids).—May, 29 October, 25.14: December, 24.75 asked 24,58 quiet. January, STEEL’S UNFILLED ORDERS INCREASE March Figures, 119,343 Ton: Greater Than Amount at End of Preceding Month. 24. (noot By the Associated Press. W YORK, April 10.—Unfilied or- ders of the United States Steel Cor- poration on March 31, made public to day, totaled 7,403,332 ‘tons, an increase of 119,343 tons over those at the end of the preceding month. LOEW’'S INCOME REPORT. NEW YORK, April 10.—Loew’s and subsidiary companies report net oper- ating profit for the period from Sep tember 1 to March 11 of $1,556,554, compared with $1,149,901 in the cor. responding period a year ago.- -