Evening Star Newspaper, April 13, 1923, Page 28

FIN MARKET STRONGER INTODAY'S TRADING Rubber and Tire Stocks Lead .Rise Which Spreads Through List. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 13.—The ques- tion which most interested Wall street was whether the continued ad- ~vance in the stock market wasmerely a rally from an oversold condition, or whether it was the recommencement of the main upward swing interrupt- ed a month ago. Opinlons differed on this subject, but there was a disposition to regard the day's operations as of a better character than have been seen in some time. They certainly meant more than the mere retreat of a discom- fited short account, Rubber Stocks Prominent. Rubber and tire stocks were promi- nent again, in anticipation of another increase in tire prices before long. Reynolds Tobacco B opened up with a rush and sold three points higher before the forenoon was out. Earn- ings at the rate of $10 a share, and bellef that this will gain a substantial increase in dividends were the mo- tives back of the buying, as they have been all the way from under 60. Retail Stores ran up very easily. There is still said to be a considerable short interest in this stock, which, in view of the scant floating supply. is ot having an easy time of it. Buyers of Retail Stores are figuring on the liguidating value, which is placed, ac- cording to most estimates, well above Ppreeent quotations. The pool in the new North American common made that stock consplcu- ous above 24. The belief is_that the dividend will be at least $1.25 and may be $1.50. General Motors, on the usual heavy trading, reached a mnew high for ‘the year when it drew across 15%. Motor Accessories Stroms. Some of the rails did better, while the Test were neglected. Pere Mar- quette was the feature in this quar- ter, the buying movement, based on the expectation of the early inaugu- ration of dividends, carrying the stock above 40. Motor accessories shares during the early trading especlally were among the leaders in the advance with not- able gains in Stewart-Warner, Strom- berg, Bosch Magneto, Reynolds Spring and Timken Roller Bearing. These stocks accomplished more than the motor and motor truck shares, although the two latter groups did well also. Without question a great many stocks sold by Important interests during the extreme and over en- thusiasm of a month ago have been reaccumulated on the recent decline. This meaws much for the stability of a market situation for its inclina- tion to disregard unfavorable news and its willingness to emphasize all that is favorable. The other and outside explanation for the improved tone in the Wall street market on Thursday and during the greater part of the time today was that there was a better appreciation of recent developments in the oil trade. Time Money Easfer. When the oll price cuts were an- nounced earlier in the week the thought came to many that this was the first token of reaction in the gen- eral trade movement. It I3 now bet- ter understood that the ofl industry is a case where output has outrun consumption and where a surplus has accumulated which must be worked off even at lower prices, but that it is very far from being typlcal of business conditions in general. The two most important incidents of the day were the easing of the time money market and the large in- crease shown in merchandise exports for March. For nearly a month now | such business as has been trans- acted in time loans has been done under terms demanded by the bank— that s, 5% per cent. Today for the fiest time lenders were making con- cession to borrowers and doing busi- ness at their bid figure of 5% per cent. This was a direct response to the statement of the federal reserve for the week, showing_ another decrease of $49,000.000 In rediscount. Discount secured by the government collateral, which is the accepted measure of financial demands, are now only $46,- 000,000 above their low in January before the launching of the Walil street campaign. Crucible Steel’s Outlook. Crucible Steel directors are sched- uled to meet again next week, but it is considered extremely unlikely that anything will be done regard- ing placing the common back on the dividand list. However, it would not be at all surprising were such action to be taken at the succeeding meet- ing of the board. Crucible is now getting quite a bit of equipment re- pair business, having made over one of its plants to take care of this. Earnings from this one plant alone are reported sufficient to put the com- mon on a substantial dividend basis. Report on Exports Vital. The significant thing about the March export statement is its dem- omstration that foreign purchases in the Aperican market have not been effected either by the very consider- able advanwe in farm prices here nor by the atill freater rise in our manu- factured proucts. The easier tendency in the money market, obviously reflecting increased confidence that no raising of federal reserve discounts is likely in the near future, no doubt acted as a spur to the stock market. —_— FEDERAL LAND BANK MAKES 21,000 LOANS | South Carolina Report Covers Con- ditions in Four States. By the Associated Press. COLUMBIA, S. C., April 13.—Re- sources and ilabilities of the Federal Land Bank of Columbia were $58,158,- 566.58 at the close of business on March 31, according to the statement of condition made public here today. Mortgage loans in force amounted 10 347,656,001.99 net, or $48,544,310 Kross, which includes $888,308.01 paid in on the principal of loans. More than 21,000 loans have been made through 508 national farm loan asso- clations and through purchase of the assets of two joint stock land banks, according to the statement, which shows the loans distributed as fol- lows: North Carolina, $13,793,856; South Carolina, $14,140,380; Georgia, $15,- 627,065, and Florida, $4,983,010. ICE CREAM PRICES ARE INCREASED IN DETROIT Grand Rapids Also Boosts Costs Because of Higher Sugar and Labor. Special Dispitch to The Star. DETROIT, April 13.—Wholesale and retall prices of ice cream have been increased in Detroit and Grand Rapids because of advancing sugar prices and labor costs. Locally the retall price today is 60 cents a quart, a 10-cent advance. In Grand Rapids the wholesale price has risen from $1.10 to $1.25 a gallon. Farmers are recelving $2.45 to $2.50 a hundred pounds for milk as compared with $1.45 & year ago. Wholesalers figure production costs have risen 13 cents And delivery costs 3 -cen! ANCIAL,” THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice For Revised Close of Stock Market see 5:30 Edition of The Evening Star, . High. Low. Close. % 7o 9% TB% Adams Express Adv Rumley Alr Reduction Ajax Rubber Alaska Gold Alaska Juneau.. Allied Chem. ... Allied Chem pf.. Am Beet Sugar.. Am Bosch. . 49 Am Brake Shoe. 78% .. 96% 107 180 23% 8% 13% 26 123% 11% 64 107% 31% 12% 31 49 134% . 116% 84 97 17% 63% 39 9 108% 54% 122% 1B3% 1651% 102 85 57% 1 48% 4“ 18% 82% 101% 24 2% 28% 21 29% 27 189% 51% 58% 25 59% * 6% 6564 93% 2% 2 62% 86% 82 9% 18 93 3% 16 69% 1% % 1% T2% 109 4“ Am Can'pf. .. Am Car & Fdy.. Am Chain A. Am Chicle Co. .. Am Cotton Oil. . Am Cot Ofl pt. Am Express. ... Am H & Leath.. AmH& Leapf.. Am Ice.. Am Internat Am La France. . Am Linseed Am Linseed pf.. Am Locomo Am Metal pf. Am Radiator. . Am Roll Mill pf. Am Ship&Com. . Am Smeltin Am Steel Fdy. Am Sugar. Am Sugar pf. Am T & Cable Am Tel & Telg. . Am Tobacco. ... Am Tobac (B).. Am Tob pf (n).. Am Water Wks. Am WWk6% pf. Am Woolen. . Am Woolen pf. . Am Zinc&Lead Anaconda. . Ann Arbor pf Arnold Co..... As8o D Goods Atchison. .. Atlan BIr&Atl. . Atlantic Fruit. Atlantic Gulf AtlGulf pf. Austin Nichol Auto Knitter. Baldwin Loco Balto & Ohlo. ... Balto&Ohio pf. . Barnesdall (A). Bayuk Bros Batopilas Min. Beechnut Pack. Beth Steel...... Beth Stl 7%(n). Bklyn Rap Trn. Bklyn R T etf: Brown Shoe Burns Bro = Butte & Super... Butte Copper... Butterick Calif Petrol .. Calif Petrol p Callahan Zine. . Canad'n Pac. Central Leath. Cent Leath pt. Cent RR of NJ.. Century Rib Mills Cerro de Pasco.. Chandler Mot Chesap & Ohlo. Ches & O pt wi. Chi & Alton. . Chi & Alton pt. Chi & ETIl pf Chi Mil & St P. Chi MiI&StP pf. Chi & Northwn Chi Pneu Tool.. Chi R1& Pac Chi RI&P 7% pf. Chile Copper. Chino Copper Cluett Peabody. Coca-Cola. Columbla. Columb'a Grap.. Col Graph pt Comp Tabulat.. Conley T Foll. Cons Clgar. Con Gas new. Cons Textile. . Cont Can. Cont Can p! Contiaental Mo. Corn Products. Cosden & Co. Crucible Steel.. Cuban-Am Sug. Cub Cane Sug. Cuba Cane § pf Cuban Dom'can. Davidson Chem. De Beers. Deere Co pf... Del & Hudson. D Lack & Wstn. Dome Mines. ... Dupont (ET).... Eastman Kod. Elec Stor Bat. .. Elk Horn Coal. Endicott-John. Erfe... Erie 1st pt. Erle 2d pf. Fairbanks Co. Famous Play Famous Play pt Fd Mines&S pf. Fif Av Bus wi. Fisher B of O pt. Fisk Rubber. Fleishman. Freeport Texa Gen Asphalt. Gen Baking Gen Clgar...... Gen Electric. Gen Elec spl wi. Gen Motors. Gen Motors pf.. 88% Gen Mot 6% deb. 89% Gen Mot 7% deb. 104 Gimbel Bros. 5% Gimbel Bros pf.. 98% Goldwin Corp... 6% Goodrich. ... 29% Goodrich pf..... 904 Goody pr pf wi 96% Granby Consol.. 30% Gray & Davis... 124 Gt Northern pf.. 8% Great Nor Ore... 83 Guantana Su.... 10% Gulf St Steel. Harbishaw Cab. Hayes Wheel. .. Homestake Househ'd Prod Houston Oll Hudson Mot ‘Hupp Motors. Hydraulic Stl Illinols Central. Indien Refining. *Ingersol-Rand. Inspiration. ... Interb Rap Tr. Int Cement. In Combust E. Int Harvester pf Int Mer Marine. . Int M Marine pf. Int Nickel Intl Paper. Intertype Corp. Invincible Of1 Iron Product: 1sland Oll... Jones Tea. Jones & L'gh pt. Kansas & Gulf. Kansas City 8. Kelly-Spr. Tire. Kelly-Spr 8% pf. Kennecott... Keystone Tire.. Laclede Gas. Lee T & Rubber. Lehigh Valley. Lig & Myers pf.. Lima Locomo. Loews Inc. Loft Inc... Mack Trucks, Mackay Cos. Macy Co.. Magma Copper.. Mallison & Co. Manati Sugar. ManhattanElev. Man El inv guar. Market St Ry. Marland Oil. 1% 15% 16 16 18 70% 69% 69% 4% % 1% 2% 109 % 50% 9% 974 107% 180 28% 8% 18% 26 126 11% 64% 107% 82 12% S1% 50% 136 116% 84 97 17% 64 40 79 108% 54w 122% 154% 161% 102 35 57% 100% 105% 15 49% “ 18% 83% 101% 2% 2% 28% 21 29% 27% 140% 51% 58% 26% 60 % 8 65% 93% 2% 2 63% 37% 82 % u W 1% 1% 109 4" 48% 8% 6% 107 180 28% 8% 13% 26 123% 11% 61 107 30% 12% 81 49 184% 116% 84 97 17 63% 39 T8% 1064 54 122% 153% 161% 102 4% 574 1004 105% 15 48% a“ 18 82% 2% 2% 27% 21 29 26% 139% 51 58% 25 59% % 76% 64% 93% 1% 1% 62% 86% 82 9% 18 1% 100% 9% 149% 83% 72 201 86 48% 0% 0% 102% 2% % 61% 23 8% 80% 84% 2% 80% 28 27% 2% 6% 107% 2 9 80% 16% 2% €63 11% 46% 108 10% 126% 66% 9% 84% 17 60% 9% 31% 26% T1% 110% 119% 42% 125% 12 63% 15 2% 11% 18 12% 10% 87% 97% 52% 8% 98% 18% 88% 18 AT% 79 88% 181 11% 16% 88% 89% 104 45% 98% [ 39 0% 96% 29% 12% 73% 82% 10% 9% 1 39% 681 3% 68 29% 27 3% 118% % 120 87 19 40 26% 113 8% 60% 107% 1% 21% 60% 105% 40% 10% 80% 80% 65% 114% 1% 19 8% 1% 112% 7% 85 34%. 68% B4% 41% 16% 50% 38%- 66 . 14 % 1% 72 109 44% 49% 9% 96% 107% 180 28% 8% 18% 26 126 11% 62 107 30% 12% 1% 50% 134% 115% 84 7 17 63% 39% 8% 106% Bd% 122% 154% 161% 102 84% 57% 100% 106% 16 49 “ 18 83 101% 2% 2% 27% 21 29 27 139% 51% 58% 26% 60 % 6 64% 93% 1% 1% 63% 37% 82 % 18 92% 100% 9% 149% 83% 72% 201 35 48% 70% T0% 102% 2% % 614 28% 89 0% 84% 83% 20% 28% 27% 2% T4% 109 2 9 0% 16% 83 €64 11% 4T% 108 10% 126% 656 81% 844 174 60% 10 81% 27T% . T1% 110% 119% 2% 126% 12 64% 15 2% 1% 18 12% 10% 88 7% 52% 8% 98% 18% 88% 18 48 9 90% 181 11% 16% 8% 89% 104 45% 98% 6 39 0% 6% 2% 124 8% 82% 10% 99% 1% 40 68% 88 63 29% 27 3% 118% % 120 87% 19 40 25% 13 8% 364 14% 49% 36 1% 63 % 604 107% 1% 21% 60% 106% 40% 10% 80% 30% 66 114% % 19 8% 1% 1124 €9 85 36% 693 544 41% 16% 51% 85% 56 Low. Close. 58% 59% 19% 19% 78 TI% 19% 19% 17 17% 17% 1% 29% 30 11% 11% 82u 32% 14 14 38 38 16 16 42% 42% 23% 24 27 2T% 1% 11% 107 107% 4% 14% 42 97 42 97 38 40% 96% 97% 69 129% 69 129% 16% 87 15% 98 87 29 391% 39% 98% 94 18% 106% 18% 106% 109% 28% 109% 45% 24 46% % 265 % 19 2% 138 Open. 68% 19% 73 19% 17 1% 304 114 High. 59% 20 73 19% 17% 1T% 30% 11% 32% Maxwell (A).. Maxwell (B). May Dp Store: McIntyre Por Mex Seaboard. Mex 5bd ctf: Miam! Copp Middle 8t O11. Midvale Steel... 324 MoK &T (new). 14 MK&T pf clA(n) 38% Mo Pacific. 16 Mo Pacific pt 2% Montg'y W'rd. .. 28% Moon Motors. 27 Mother Lode. 1% Nash Motors. ... 107 1Acme. Nat Biscult w { Nat Cloak&Spf. ., Natl Dept Stores. Natl Dept Sto pf. Natl Enamel Natl Lead. . Nevada Copper. Newp Ns Gas pf. N Or Tex&Mex. . N Y Alr Brak NYCentral..... 93% NYNH&Hartfd. 18% NiFalls Pow pf. 106% Norf & West.... 109% North Amer..... 24 North Ampf.... €5% North Pacific... 74% Oklahom Prod 2% Orpheum Cir.... 19 19% Otis Elevator... 138 138 Otis Steel.. . 12% 12% Owens Bottle. 48% 48% 13% 48% Pacific Develop. 1% 1 Pacific Ofl. .. 39% 89 Packard Motor... 14% 14% Pan-Am Pete... T1% 0% Pan-Am P (B).. 6% 67 Panhandle...... B% 5 Parrish & Bing. 13% 18% Penn Seabd Stl.. 5% 5% Pennsylvania... 45% 45% People’s Gas 89% 89% Pere Marquett, 89 39 Philadelphia Co. 48 48 Philadel Co pt.. . 43% 43% Phillips Pete 63% 62% 18 82% 384 96% - 69 . 129% 16% 87 28 89% 1 39% 15 0% 67% 5 18% 5% 46% 89% 40% 48 48% 62% 13 824 72 % 64 98% Plerce-Arrow... 13 Plerce-Ar pt 824 Plerce-Ar pri. 72 Plerce Of1 % Pitts Coal . 64 Pitts Coal pf 98% Pitts & W Va. 39% Pressed Stl Car. 66 Produc & Ref. 521 Pub Serv of NJ.. 101 101 PubServpf..... 104% 104% Pu''man Co..... 126% 126% Pui.ta Alegre... 66% 66 PureOll. ... 27% 27% Pure Oil 8% pt. 96 26 Rallway Stl Sp.. 118 18 Rap Tr Sec w.i.. 16 16% RapTr Secpf wi dd% 3% Ray Con Cop 4% 14% Reading. . . 6% 76% Reading 1st pf.. 50% 50% Remington..... 48% 3 Replogle Steel.. 264 26% Rep Ir & Steel.. 64% 64 Reynolds Spr... 24 24 Rey Tobac (B).. 63% 63% Royal Dutch.... B1% 51% 6t Joseph Lead.. 20% 20% StL&SanSrpt.. 45 45 St L Southwn... 3824 82 St L South pf. 68% 58% Savage Arms... 28 28 Seaboard AirL.. 7 7 Seab'd ALpf... 12% 12% Sears Roebuck.. 86 86 Shell Tr&Tran.. 39 38% Shell Unlon..... 1% 174 Shell Unlon pt.. 91% 91% Stmms Petrol... 14 N Stmmons 81% 81% Sinclair O! 84N 4% Skelly Oll. . 30% 20% Sloss-Sheffleld.. 54% 5% South Pacific... 90% 90 So Porto Sugar.. 60 59 Southern Rwy.. 8274 82% Southern Ry pf. 66 €6 Spicer Mg Co... 23% 234 Spicer Mfg pf... . 943 24% StOllof Callf... b52% 52% StOfl Calif rts.. 3% 3% Stand Ol of NJ.. 39% 39% St Oil of NJ pf.. 116% 116% Sterling Prod... 624 625 Stern Bros pf... 112 12 Stew't-Warner.. 118% 118% Stromb'g Carb.. 86 86 Studebaker..... 123% 123% Submar’e Boat.. 14% 14k Supertor Ofl % 4% Sweets Coof A.. 1% 1% Tenn Copper.... 1% Tex Company... 48% Tex Gf Sulphur. 58% Tex & Pacific... 24% Tex&PCOIl... 194 Tide Water Oil. . 126% Timken Bear. 424 Tobacco Prod... 58% ‘Tobac Prod A... 83% 83% Trans Cont Oll.. 11% 1 Underwood. . ... 1354 135% Union Bag & 3% 3% Union Ofl. Sk 1w Union Pacific. .. 1364 136% Un Tank Cr pf.. 109% 109% United Drug.... 77% 1% United Fruit.... 175 176 UtdRyInvpf... 44% % Utd Retall St 80% 80% USCastIrP.... 30% 30% USHoffmanM.. 19 19 USIndus Alco.. 68% 87% . 99y 9% .. 62 61% Rub 1st pf... 104 104 Smelt&Ref.. 33% 33% 106% 106% - 118% 118% . 70 70 .. 89% . & Va-Car Chem... 15 Va-C Chem pf. 45% ValrCoal&C.. 64 Vivadou.... 22% sh pf (A).. 30% Waldorf Sys.... 42 Web & Heilbrn.. 14% West Elec pf.... 111% West Penn Co... 38% ‘West Pacific. 16% West Pacpf.... 58 Western Union.. 111% ‘West Air Brke.. 116 Westhse EI&M.. 59 Wheeling&L E.. 9 White Eag Ofl.. 27T% White Motor.... B7% Whi 8% Wickwire. 1% Wilson & Co pf.. 824 % 66% 31 83T% 9% 70% 89% 66 523 101% 1044 126% 66 27% 96 118 16% 434 14% 6% 50% 43 26% 64% 25% 656% b1% 201 45 82 B68% 28% 7 12% 86 38% 17% 1% 14% 82 34% 29% 55% 90% 59 33% 66% 23% 94% 52% 3% 39% 116% 62% 12 121 87% 123% 4% 4% 1% 11% 48% 60% 24% 19% 126% 424 58% 3% 1% 135% “ w 136% 109% 79 176% 45 81% 30% 19 67% 99% 61% 104 83% 106% 118% 70% 40% 47 14% 45 64 22% 304 42% 16% 111% 884 16% 58 112 116% 69 8% 27% b67% 3% 11% 824 % 66% 81 87% 9% n 11% 48% 58% 24% 20 126% 42% 68% 39% 47 14% 46 64 22% 80% 42 14% 111% 88% 16% 58 111% 116 58% 834 27% 67% 3% 114 824% % 66 31 81% 9% 0% Low. Last. Call Money..... 4% 4% 4% HOURLY SALES OF STOCKS. 11 am..... 247700 12m. 470 000 1pm. . 580800 2p.m..... 681500 ‘Wisconsin Cent. Worthington. .. Wright Aero. Youngstn Tube. STOCK PLAN RATIFIED. CHICAGO, April 13.—A special meeting of the Inland Steel Com-« pany’s stockholders ratified a pro- posal to issue $30,000,000 7 per cent cumulative preferred stock and to change the company's authorized common stock from 1,200,000 shares bt $25 par value into a like number of shares of no par value. The di- rectors plan to issue $10,000,000 of the new preferred stock and 166,540 addition shares of the common, mak- ing a total of 1,182,799 shares out- standing. NEW YORK EGG PRICES. NEW YORK. April 13.—Eggs firm; receints, 32,916 crates; fresh gathered extra firsts, 28%4a31; fresh gathered firsts, 26%a30%; nearby hennery whites, locally candled extras, 36; New Jersey hennery whites uncandled extras, 3614a37%; state, nearby and nearby western hennery whites, firsts to extras, 31a36; state and nearby. hennery browns, extras, 31; Pacific coast whites, extraa,. 31i4a32m. SUEARS STRON; " TRAGTONS WEAK Conflicting Moves in Today’s Bond Market—Money Rates Are Easier. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, April 13.—Weakness in tractions, strength in sugars and general dullness in high-grade securi- ties featured today's bond market. Distrust as to possible legislation at Albany was given as the reason for the reaction In the tractions, particularly as to the Brooklyn Rapid Transit obligations. Strength in Sugars. Strength In the sugars again today was based on the price situation as to the commodity. Cuba Cane Sugar 85 and Camaguey Sugar 78 were the strong features. The last named sold a point above the opening price. The bond is secured by first mortgage on all the company's property, and sells on its investment merit, as there is no converslon feature. There was no particular change in stricfly investment issues pending developments in the money market. Time money rates were slightly ecasler today. Libertys were steady. Forelgn government bonds were firm. During all the recent decline in the market as a whole the foreign section has _been relatively the strongest. Whether this is dus to a conviction that conditions abroad are fmproving or whether it is simply the wearing away of the alarm mani- fested when the French first marched into the Ruhr is hard to say. French bonds held their recent gains and the Netherlands 6s sold up to par. Some Weak Spots. Carolina, Clinchfield and Ohio §s were the feature on the down side. They dropped more than 3 points to- day. The bonds were offered in De- cember at 96% and sold as low as 89 today. It is understood the syndicate is about to be dissolved. Dery & Com- pany 7s dropped over a point and then rallied. A sharp run up in St. Paul converti- ble 4%s and a gain in St. Louts South- western Consolidated 4s were the chief incidents among the seasoned rallroad ssuei COAL SHIPMENTS AT TOP NOTCH Copper Also Hangs Up Rec- ord for All Time—Gasoline for Export Higher. By the Associated Press. NEW YORK, April 13.—March ship- ments of anthracite coal totaled 183,518 tons, an Increase of 404,851 !tons over the same month last year and 1,231,805 _tons over those of this February. The 7.000,000-ton mark has only been exceeded on six pre- vious occasfons. March shipments of copper, foreign and domestic, totaled approximately 215,000,000 pounds, a new high record for all time. The best previous total was 207,000,000 pounds, in January, 1923, Domestic shipments made up 155,000.000 tons of the total. Large increases in orders came from auto- mobile, electric and radio manufac- turers. The Standard Ofl Company of New Jersey today raised the price of gas- oline for export a quarter of a cent a gallon, making the new price for Standard white in barrels 13% cents. he call for the deposit of Mexican m;l;lernmen! and railway bonds under the terms of the agreement made be- tween Adolfo de la Huerta, Mexican minister of finance, and international bankers last June is expected next week. The Mexican commission sent here to arrange the details is reported to have completed Its survey. Initial payments on coupons maturing since January 1 will total between $3,000,- 000 and $4,000,000. importers are the latest ro‘:'e ::n::y"'pw come into the local sugar market. Two cargoes, totaling 12,000 tons, sold today for June ehip- t for 6 cents a pound, f.o.b. Cuba, Were sald to be for_Japanese inter- ests. Canadlan and British importers have been heavy buyers of sugar in the last two weeks. WOOL MARKET SLOW. Heavy Weight Outlook Good. Higher Prices Likely. BOSTON, April 13.—The Commer- cial Bulletin tomorrow will say of the ket: w?—ol"h:n‘d:mlnd for wool is moderate, but fine wools have a decided prefer- ence and at the moment woolen types are still dull. The new clip season is developing slowly in the west, but there is a broadening tendency in the new clip and the tendency of prices Is, if anything, & bit stronger. “Forelgn markets, also, show a rising tendency, fne wools in the R llan auctions being 6§ to 7% por Gent dearer this week. An equal rise is predicted in London, commenc- The April 24. Bradford ls very strong, g AP ombers advancing prices on mgll‘:glmlnuhcturerl are in a well sold up position and the outlook is 2019 devidedly good business during the heavy-welght season at least. e WALL STREET NOTES. Record Price for Seat on Cotton ‘Exchange—Dividends. Special Dispateh to The Bw.lz i - W YORK, April 13.—The cotton exvnange membership of I R. Thomas oxoranid to R K. Cone for $32,000, amchequals the record high for & seat. _dividends today: New York and Hlfil’fl:?'l! Rosario Mining, Allied Comoical and Dye common, American Cigar common, American Light and Traction common and 'preferred, American Shipbuilding common and | preferred, Art Metals construction, R eiated Dry Goods common, British preferred, Chicago Pneu- matic Tools, ‘Commonwealth Edison, Hupp Motor Car common, Intern HuPP, Shoe preterred, R. H. Macy pre- ferrdd, Pere Marquette preferred and eferre P e Dlar quarterly dividends: Stand- ard Bil of Ohio preferred, General &rear common_ and preferred and S cure preferred, Shell Union Oil deben tion preferred, California Packing Company on capital stock, Facking Bond and Share preferred, Bl ters and Refiners' preferred and Purham Hoslery preferred. New York bank clearings, $826,000,- 00p New, York bank balances, $87. 000,000; New York federal reserve Jeedlts. $78.000,000. Boston bank clearings, $76,000,000. i 200 OO BUTTER AGAIN DROPS. CHICAGO, April 13.—Butter—Low- ery extras, 46%: standard e frats, 45% a46; firats, 452463} L 4434, seConds 44K her: recelpts, 22,379 fArsts, 26; ordinary firsts, 24a ‘miscellaneous, 25a25%; storage- , extras, 28% ; storage-pack, orsts Empire Steel 34 D. ¢, FRIDAY, APRIL 13, 1923. [o wew xoxx BON m«xxxmml Received by Private Wire Direct te The Star Offica, For Revised Closc of Bond Market see £:30 Edition of The Evening Star. NOTE—Quotations hour of the market. incomplete on account of wire trouble last half (Sales are in $1,000.) UNITED STATES BONDS. thirty - seconds. Example: 101-1 means 1011-32.) (Fractions represent Bales. HI Lib3%s...... Lib 24 4s . Lib 1st 435 Lib 2d 4%s Lib 3d ¢%s Lib 4th 4%s Victory 4¥s. . US4%s1952. 2 101-1 1 97-22 97-22 . b 97-30 97-28 302 97-28 97-23 150 98-15 98-12 418 98-3 11 100- 76 99-5 Igh. FOREIGN. Sales. . 16 10 6 23 it 16 4 Argentine 7 Belgium 7%s. Bolivia Bordeaux . 22 Brazil 7%s. . Canada 531926.... Canada 5%s 1929. . Canada 6s 1931 Canada 6s 1953 Chile 85 1946. Chile 88 1926. Chile 88 1941. Christiania 8s. Copenhagen 5%s Cuba5%swi..... Czechoslovakia 8s. Denmark Denmark Dutch East I 6547 Dutch East I 65 '62 French Govt 8s. .. French Govt 7%s. Halitl 6s ctfs. .. Holland-Amer 6; Japanese 1st 41 Japanese 2d 4%s. . Japanese 4s. . Jergen UM 6s°47. Lyons 6s.... Marsellles 63 Mexico 58 Mexico 5s large. Mexico 4s... Netherlands 6s. Norway 8 Norway . Paris-Ly’'s-Med 65. Prague 7i4s. Queensland 7 Queensland 6s. Rio de Jan 85 1946. Rio de Jan 85 1947. Rio Gr Do Sul §s Sao Paulo,City,8s. . Sao Paulo.State,8s. Seine, Dept of. 7s. Serbs Crotes Slo Ss weden 5. ... Swiss Confed §i Tokio 5s. .. s Ud Kingm 53 '29. Ud Kingm 5%s '37 Uruguay s . Zurich §s. MISCELLANEOUS. Ajax Rubber8s... 9 Am Agr Chem 43 7 Am Cotton Oil 6s.. 1 Am SmIt&R 1st 5s. 2 Am Sugar Ref gs. . AmT& Ty 6s. AmT&Tcltrs AmT&Tcltrds.. Anaconda cv db s Anaconda 1st 6s Armour & Co 4%s. Atlantic Refin 5s. . Bell Tel Pa s rcts. Beth Steel rf 5s. .. Beth Steel pm 3. . Beth Steel s f 6s. .. Brier H St 18t 5%s Central Leather 58 Cerro de Pasco 8s. Chile Copper 6s. .. Chile Copper 7s. .. Con Coal Md 1st 53 Cuba Cane cv d 8s. Dery (D G) Ts.. Det Edison ref 6s. Du Pontde N 733s. Duquesne Lt 7%s. Duquesne Light 6s E Cuba Sug 7%s Empire F&G Tis. Fisk Rubber 8: Gen Elec deb 5s. Goodrich 634s. ... Goodyear 8s 1931. Goodyear 8s 194 Humble O&R 5%s Indlana Steel 58 Int Mer Marine 6s. Int Paper 1st 58 B. Kelly-Spring 8s Lackawa S 58 '50. . Lorillard (P) 68 Lorillard (P) 7s Manati Sug 8f Tl3s Marland Ofl 73%s. . Marland O 7%* v. Marland Ol Ssw.. Mexican Petrol 8s. Mich St Tel 1st 5s. Montana Power 58 Morris&Co 1st 43¢ Nat Tube 1st 5s... ew Eng Tel 5s. .. Y Edsn 1st 6338, NYG EL H&P 5s. N Y Tel 63 '41. N Y Tel 4%s. N Am Edison 6s. States Pow &8 orthwst B Tel 78, Otis Steel 8s. . Pacific Gas & El 55 PacT & T 58'52... PhilaCoref 6sA.. Plerce-Arrow 8s. . Producers & Rf 8s. Public Service & Punta Alegre 7s Sharon Stl H 8s Sinclair Oil 7s. . .. Sin Crude Oil 6%s. Sin Pipe Line 58 South Bell Tel b: So Por Rico Sug 7s. St Oil of Calif 7s.. Steel & Tube 7s. .. Tide Wat Oil 6%s. Union Bag & P 6s. Unit Drug cv 8s U S Rub 1st rf 5 U S Rubber 7%s USSteelsfbs....106 Utah Pow & Lt5s. 8 Va-Car Chem 7s. 14 Va-Car Chm 7% Wickwire Spen 7s. 3 Wilson & Co 1st 6s 8 Wilson&C cv 7%s. 2 Wilson & Cocv és. 7 P AR AOR TR OO ARRIASENRNO LR e High, 102% 101 95% 101 111 924 8% 82 94 101% 100 101% 99% 98% 103% 102% 103% 111% 90% 99% 88% 109 97% 94% 94% 98% 94% 95% 91 92% 92% 81% 83 8% T8% 56 55% 36% 100 112% 98 4% 78 106% 100% 934 93% 24 98 9814 864% 69% 105% 1184 5% 114% 104% 105% 13 974 101t 65 89 1024 116% 97 91% 102% 9% 85 7% 984 93% 894 97% 92% 98% 144% 100% 112 86 95% 68 102 108 107% 102% 107 9314 106% 1014% 100% 103% 117 98 100 87% 83% 109 90% 94% 114% 99 100% 145 149% 108 99% 25 80 98% 97% 109 97% 104% 92% 93 89% 107% 98% 90 8944 100% 79% 107% 83% 121% 98 100% 9815 86% 92% 100% 105% 101 103% 98 111% 87 107% 102% 88% 0% 84% 95% 99% 100% 95 97-31 100 99-4 Low, 102 100% 95% 100% 111 924 8% 81% 93% 101% 99% 101 99% 98% 103% 102% 103% 111% 904 99% 88% 109 9TH% 94% 94% 98% 94% 954 90% 92% 92% 81% 82% 8% 8% 5% 55 86 99% 112 9% 4% 1% 106% 100% 931 93% 94 98 9814 861 69 105% 118 4% 114% 104 105% 13 97 101 65 88% 101% 116 964 914 102 96% 84% o744 98 934 88% 9744 92% 98% 1431 100 1z 857% 95% 65 101% 108 107% 102% 106% 93 106% 101 100 10315 116% 977% 100 874 83% 109 90% 94y 114% 99 100% 145 147 108 99% 94% 79 98% 974 108% 9734 104% 921 92% 893, 107% 98 89% 89% 100 8 107% 83 120% 98 99% 98% 86% 92 100% 106% 101 103% 97% 1113 86% 107 1017% 87% 90% 84% 94% 99 100% 9% D ———— EX-DIVIDEND TABLE. April 16— Atlantic_Refiniug. pf., q. Austin Nichols pf., Great Northern Ir. Tnternational Nickel pf., U. 8. Rubber pf., q. ‘April 17— Indlans Pipe Line, q Mullins Body pf.. q. Sterling Products, 4. April 18— Idaho Power pf., q April 19— Loose-Wiles Biscuit 2d pf April 20— Atias Powder of. q. uckere Pipe Lite. Q Cluett, Peabody, 4 Du Pont Powder, g. Du Pont Powder, pf., q. Exchange Buffet. Federal Bugar Federal Sugar Re Fisher Bods, q. Fisher Body p Homestake Mining, mo. Kelsey Wheel pf.. q. National Dep ps-Jones Binclair Con. ril 23— 8 Ap; Remington Type. lst pf., accum. Stores 1at pf., fnc., q TREASURY CERTJFICATES. (Quotations furnished by Redmond & Co.) ——Nooa.——— Rate—Maturity. 3%s Juae 15, 1928 s 3% September 15, 1928.. s September 15, 1023.. December 15, '1024... March 15, 1024. June 15, 1024. September 15, reh 15, 1923, June 15, 1025 December 15, " 1925. s March 15, 1926. . Beptember 15, 1926, s December 15, 1027 T rITS oy 828388328 29 9 % 1d. %i1e 1 1 2932 101 2982 16 - 15- 5- Low, Close. 101-1 101-1 97-22 97-28 97-26 98-12 97-31 100~ 99-4 Close. 102% 100% 95% 101 111 921 8% 81% 94 101% 99% 101% 99% 98% 103% 102% 103% 111% 90% 99% 88% 109 97% 94% 9415 98% 94% 95% 91 92% 92% 81% 82% 8% 8% 56 55% 364 99% 112% 97% 4% 78 106% 100% 93% 934 94 98 984 86% 69% 105% 118% 5% 114% 104 105% 13 97% 101 65 89 102% 116 964 91% 102% 97T% 4% 97% 98 9314 89% 97% 92% 98% 1443% 100% 12 86 957% 684 101% 108 107% 102% 106% 93 106% 101 100 103% 116% 97% 100 o £34 109 90% 9% 114% 99 100% 145 147 108 B i otets LEEEEEEEEE R . 525 Offer. 100 99 27-32 15-16 100 182 i1e vey 1001-16 18101 5-18 16 1001-18 1 903 16 100" 98916 0% 16 More than 10,000 women in Chile wozk, employed 1a RAILROADS. Bales. High. 85% 8% 85% 8% 83% 96 76% 100% 79 81% 94% 63% 1% 86% 88 114 112 1% 88% 87% 82% 51% 85 98% T9% 50% 60% 67% 83 663 108% 82 8 88Y% 2% 100% 101% 83 86 984 3% 50% 83% 55% 45% 103% 48% 50 108% 114 108% 98% 82 80% 574 8¢ 69% 90 44% 36% % B4 944 034 60% 95 84k 8% 66% 94% 55% 93% 82Y% 58 88% 79% 103% 884 9% 70% 66% 41% 73 64 110% 59% 3 106% 94% 94y 99y 924 7% .29 99% 90% Low, Closs. 85% 85% 1% 78% 85% 85% 8% T8% 83% 83% 96% 96 6% 76% 100% 100% 8% 79 80% 81% ¥ 94% 63% 63% 91% 91% 86% 86% 88 88 114 114 111% 111% 1% 1% 88 88 87% 8% 82 82% 51% b1% 84% 86 98% 98% 9% 79% 50% 50% 60% 60% 66% 66% 82% 83 66 65% 108 108% 81% 81% % 178 87% 8T% 2% 2% 100% 100% 101% 101% 83 83 856% 86 98 98 T2% T2% 50% 60% 83% 83% 66% 66% 45% 45% 103% 103% 48 48 50 50 103% 103% 114 114 108% 108% 984 98% 824 824 80y 80% 56% 66% 84 84 68% 69% 89% 89% 44% 44% 35% 356% 76 6 P44 B4% 4% 94% 103% 59% 9474 8% 8% 66 Uy B5% 3% 821 57% 88% 9% 103% 88 8414 70% 66% 40% 73 63 110% 59% 82% Atchison gen 4s. Atchison ad) 4 Atlantic CL 1sf Atlantic C L cl 4 AtlanticCL 43 B&Opring \Buff R&Pitt 4143, . Canadlan North 7g Canad North 6% Canad Pac deb 4, Ches & Ohio cv Gs. Ches & Ocv 414s. . Ches & Ogn 4%s.. Chi & Alton 3s. ... Chi B&Q gn 48 '58. Chi B&Q 1st rt 5. Chi & E Tl gn 58 Chi Great West Chi M&S P rf 41, Chi M&St P ev bs. . Chi M&St P 48°25. Chi M&S P cv 4%s Chi& N W 63 Chi Rys bs. . Chi RT& Pac Chi Un Sta 4%s. Chi & W Ind cn 48 CCC&StLrf 6s A. Cleve Term 5145 Colo & Sou 4%s. .. Del & Hd 1st rf 4s. Del & Hudson 5%s Den&Rio G con 4s. D&RG Istrf5s.. Det United 414s Erie Ist con 4s Erie gen 4s. . Erie con ext 7s. Erle conv 48 A rieconvdsD.... Gr Trunk s db 6s. Grand Trunk 7s Gr North gen 7s. ... Gr North gen 5%8. Havana ERL&P b8 Hud & Man ref 5s. Hud & Man aj 5s.. Il Central ref 4s. . Int Rap Tran s Int R Transit 7s Int & G Nor aj 6s. . Towa Central rf 4s Kan City Ft S 4s.. Kansas City S 5s. . Lake Shore 45’28 Louis & Nash 53%s. Manhat Ry cn 4s.. Market St en 5s. .. MIIEIRy & L 5s. . MK&Tprinss A MK&T4sB..... MK&Té6sC MK & T ad) 5s. Mo Pacific 6s. . Mo Pacific 5365 Mo Pacific gn 4s Montrl Tm 1st 5s. . O Tex & Min bs. Y Cent deb 6s Y Centdeb 4s. .. NYCentriss.... VY CenLScl 3%s. w Haven c d 6s. ew Haven d 4s 57 ew Haven 7s.... VY State Ry 4%s. Norfolk & W cv 6s. orthern Pac 3s Northern Pac 4s. Northn Pacr | 6 rthern Pac 5s. . Northrn Pc 58 ret. Ore & Calif 1st 5s. Ore Short Lref 4s. Ore-Wash 1st rf 4s Pennsyl gen 5s. Pennsyl gen 4%s Pennsyl 6%s. Pennsyl gold 7s Pere Marq 1st 5s. . Rapld Tran 68 wi.. Reading gen 4 RIATk &L 4 E St L IM&S R&G 48 tLIM&S 45'29. tL&SFpldsA @ ) O A RO NRN RS~ NEDRE RN 0ND n b Seab'd A L adj 5s Seab'd A L con 68 Sou Pacific ref 4s. Sou Pacific clt 43 Southern Ry 1st &8 Southern Ry gn 48 Southern Ry 63%s. Sou Ry Mobile 4s Third Averef 4s. . Third Ave ad} 5t Union Pac 1st 4s. Union Pac 1st rf 4s Union Pac cv 4s. Union Pac cv 6s. Virginia Ry 1st 5 Wabash 1st 5s. .. ‘Wabash 2d 5s Western Md 4s. West Shore 1st 4s. 9% 94% 6634 101% 5% 59% 56 90% 82% 95 103 93% 95 . 86% 60% 6034 8% 78 TOTAL SALES (Par Value): 1la.m.. 2992000 12noon. 4385000 lpm.. 5246000 2p.m.. 6429000 —_— SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co. Aluminum Co, of Amer. 7s 1925, Aluminum Co. ¢f Amer. 7s 1833, American Cotton Oil 6¢ 192¢. American Sugar 6s 1987.. ‘Anacooda Copper 68 1920 ‘Anaconda Copper Ts_1929. Anglo-American 01l 7i4s 1025." Armour & Co. 78 1t S Hell Tel. of Canada 78 1935.. Bethlehem Steel 7s 1923 Central Leather 5s 1925 €., C., C. & 8t. L. 6 1939, Chtcago Tel, 55 1923 Du Pont 7%s 1831, Goodyear T. & R. 88 1831 Great Northern 75 1936, Hocking Valley 6s 1024, Humble Oil 5is 1932 Kansas City Term. 6s 1 Kennecott Copper 7s 1830. Livoy, McNeil & Liboy 78 M., 8t.P. &8, S. M. tern Unlon 8%s 1036. tinghouse E. & M. 26, 1923. Called July 1, 1023. STEAMSHIP FIRM PLANS FOR NEW FINANCING Eastern Steamship Company Also to Acquire Some New Lines. By the Associated Press. BOSTON, April 13.—Stockholders of the Eastern Steamship Lines, Inc, were notified by President Calvin Austin today of a plan for recapital- ization. An additional issue of 35,000 shares of 7 per cent cumulative first preferred stock, par 3100, is proposed or acquiring additional property and lines and for betterment issue of 90,000 shares no: ferred, cumulative 4 proposed for issue as a stock dividend. This latter was explalned as in lleu of a distribution of earnings of last year, described as “very satisfactory, which will be applied to developmen! The statement said t! “if plans with reference to the acquirement of additional lines are sufficlently veloped at the date of the annual meeting (April 18), they will be sub: mitted to stockholders at that time. The statement did not make clear whether the reference to additional lines wae intended to apply to ao- quisitions other than the Old Dominion Steamship and the Kennebec Steam- ship Company, already announced but not yet approved by stockholders. _————— About the only good thing that can be said for poverty is that it is no aiagrace, FINANCIAL. {Grain, Produce and Live Stock WHCLESALE MARKET. There s no indication of a break In the butter market. Dealers say, however, that prices will have to drop before long, but just when they are not able to say. It is sald the SupPply of storage butter is about ex- hausted. Seibutters “This the hardest season on dalrymen.” was remarked this morn- ng. “Last years supply of silage is about exhausted, feed is scarce and Dastures have not matured.” wijy 8 generally belleved the break L come as soon as cattle are able 0 Eet plenty grass. Until then the market probably will remain tight. An advance of one-half cent In the price of eggs made the market a trifle stronger today. dlE"x:e_rsamc"y fresh, selected, can- A ozen, ) S o D, 25826 average recelpts, Ve Poultry—Roosters, per 1b., 17; h::klehy per 1b.,, 25a35; spring chickens, per Ib., 60a65; winter chickens, per 1b., 19250; keats, young, each, 65; fowls, per Dressed poult, ry—Fresh-killed spring chickens, per Ib., 75a30; winter chick- b 8, Der 1b., 45a50; hens, per 1b., 32a33; i8onocTS: per Ib., 19a20; turkeys, per 1b., ; keats, young, each, 70a80. per Ib.. 9a9 thin, per 6a7. La eoring. pep b, 0. Live &2, 3.0025.00 cach; live hogs, per Ib.. 9. reen fruits—Apples, per bbl., 2.00a . Gallfornia oranges, per crate, 4.50 ;, Florida, 5.50a6.50. ~Lemons, per ¥ -00a4.50." Grapefrult, 3.50a4. :ze(lble Potatoes, per bbl., No. 1, 1 00a2.00; per sack, 2.50a2.75; No. 2. 50a 2-00. Sweet potitoes, North Carolina, 43.00; nearby, 2.00a3.00. Lettuce, per Crate, southern, ' §0a2.00; Romaine let- tuce, per crate, 1.50a2.00; Iceberg let- tuce, per crate, 3.50a3.75. Nearby ;ibbgn, per bbl, 1.50a2.50; southern, -00a2.50 per basket. Eggplants, per crate, 3.00a5.00. Tomatoes, per box. Florida, 2.00a4.00. Beans, 3.00a5.00 per basket. Peas, 3.00a6.00 per basket. Pep- Ders, per crate, Florida, 1.50a2.00. Kale, Der barrel, 75a1.25. Spinach, per bbl., 1.50a2.00. Celery, per crate, Florida, 2.7523.25. Squash, 2.60a4.00. Florida lima beans, 4.0025.00 per basket. South Car- olina asparagus, 2.50a6.00 a dozen. GRAIN AND PROVISIONS. BALTIMORE. Md. April 13 (Spe- cial).—Potatoes, white, 100 pounds, 76a1.65; 150 pounds, 1.50a3.00; sweets, barrel, 1.25a2.00; bushel, 50a75; yams, barrel, 1.25a1.75; bushel, 50a75. As- paragus, dozen, 3.00a5.00. Beans, bushel, 2.00a3.60. Beets, hundred, 6.00a7.00. Cabbage, hamper, 2.00a2.50. Carrots, basket, 50a60. Caulifiower, crate, 2.50a2.75." Celery, crate, 2.00a 2.75. Cucumbers, crate, 3.00a4.50. Egg- plants, crate, 3.00a4.50. Horseradish, bushel, 3.00a3.50. Kale, bushel, 50a 65. Lettuce, basket, 75a2.00. Onions, 100 pounds, 1.50a4.00. Spring onions, hundred, 1.25a2.00. Peas, bushel, 2.50a 3.50. Peppers, crate, 2.75a4.50. Radish- es, bushel, 1.00a2.00. Spinach, bushel, 75280. Squash, crate, 3.00a4.00. To- matoes, crate, 1.50a3.50. Turnips, basket, 50260. Apples, packed, bushel, ' 1.50a1.75; _box, 1.50a2 Grapefruit, box, 2.50a4.00. Oranges, box, 3.50a6.00. Pineapples, crate, 6.00a 6.50. Strawberries, quart, 20a45. Selling Prices at 12.30. ‘Wheat—No. 1 red winter, spot. no quotations; No. 2 red winter, spot, 1.43%. nominal; No. 3 red winter, spot, no quotations; No. 2 red winter, garlicky, 1.40%, nominal; No. 2 red winter, garlicky, spot, no quotations; April, 1.40%, nominal. Sales—Nome. Corn—Cob corn, new, 4.50 and 4.60 per barrel; contract, spot, 90% per bushel; No. 2 corn, spot, 933%; No. 4, no quotations; track corn, yellow, No. 3 or better, 93 and 94 per bushel. Sales—None. Oats—White, No. 2, 55% and 66 per bushel; No. 3, 543 and 55 per bushel. Rye—Nearby, 80a90 per bushel; No. western export, spot, 93% per o. 3, no quotations. Hay—Receipts, 76 tons: demand for good ‘hay is fair at a range of 17.00a 21.00 per ton. with general receipts ample for trade wants. N1 1 tangled rye, 15.00a . 1 wheat, 12.50a13.00; No. 1 al, 14.00a15.00. barrel, 3.00a6.00, DAIRY PRODUCTS. BALTIMORE, April 13 (Spe- cial).—Live poultry—Young chickens, 35236; small and leghorns, winters, 40a45: springers, 58a60; old hens, 27a28; small and leghorns, 24a 26; old roosters, 15a16; ducks, 28a3 small, 25; pigeons, pair, 35a40; guine: fowl, each, 40a60. Dressed poultry— Capons, pound, 42a43; medium, 38a40; small slips, 33a35. Eggs—Loss off; native and nearby firsts, dozen, 24; southern, 23. Butter—Creamery, choice to fancy, pound, 48a50; prints, 50a52; nearby creamery. 45a48; ladles, 40a42; rolls. 38a39; store packed, 38; dairy prints, 38a40; process butter, 46. TODAY'S CHICAGO PRICES. CHICAGO, April 13.—With unfavor- able weather both in the northwest and southwest and with an advance in Liverpool quotations, the wheat market here took a decided upward swing today during the early deal- ings. Particular notice was given to the action of the Liverpool saarket, the advance there being in the face of a decline yesterday in America. Dis- patches from Liverpool referred to a good demand there from European continental countries. Chicago open- ing prices, which varied from % decline to % gain, with May 1.24% to 1.24% and July 1.22% to 1.22%, were followed by a slight general setback and then by a sharp upturn all around, July and September touch- ing new high-price records for the season. Corn and oats were affected by the wheat advance. After opening % to %a¥ higher, May, 80% to §0%, the corn market sagged a little and then scored moderate general gains. Oats started 1§ lower to a like ad- vance, May, 46, and later showed gains for all deiiveries. Provisions sympathized with the strength of grain. WHEAT— Open. May July Low. 1.24 Close. 123 200 121% 80% .80% 8113 ] High 82 48 vaees AT L1187 May 1025 1025 July 1050 1057 CHICAGO LIVE STOCK MARKET CHICAGO, April 13 (United States Department of Agriculture).—Hogs— Receipts, 27,000 head; fairly activ mostly to shippers and small packer. strong _ with Thursday's _averag bulk, 160 to 220 pound weight, 8.35: 8.45; top, 8.50; 240 to 325 pound butchers, 8.06a8.30; packing sows mostly, 7.10a7.30; desirable 100 to 130 pound pigs, 7.00a7.50; plain light kind, 6.75 down: heavywelght hogs, 7.95a 5.30; medium, 8.20a8.50; light, S.10a light light, 7.00a8.40; packing smooth, 7.10a7.50; packing sows, rough, 7.007.15; killing pigs, 6.50a6.75. Catti—eRecelpts, 5,000 head: beef steers uneven; Kkilling quality piain better grades about steady; others weak to Jower; top matured steers, 9.80; few loads 8.2528.60; bulk beef steers, 8.00a9.25; stockers and feeders, unevenly lower, mostly 10 to 15 off; country demand dull; beef cows and heifers falrly active; fully steady; other classes generally stead me desirable vealers shade higher. Sheep—Receipts, 8,000 head: prac- tically nothing doing; bidding weak to. 25 lower on lambs; asking steady to shade higher prices; receipts most- Iy Colorado and Nebraska fod lamb: shorn description predominatin sheep scarce, around steady; run i cludes about 900 head direct to pack- ers. 1177 1197 NEW POTATOES HIGH. NEW YORK, April 13 (Special).— The receipts of new crop potatoes continued light today from both Flor- ida and Bermuda. Prices ranged from 15.00 to_16.00 per double-headed bar- rel for No. 1 Florida Spaulding Rose, a8 compargd with 7.00 to 7.50 on the sama da Year agow ADVANGEDNLRELY INLUMBER PRIE Splendid Demand Holds Up, and Rates Now Appear to Be Stabilized. Special Dispatch to The Star. NEW YORK, April 13.—The rumbls of the logs rolling into the lumber mills of the United States, the shriek of the band saws and the deep hum of the planers will not lower in pitch/ for many a month to come. But there is equally little ltkellhood that the roar of the consumer against in- creased lumber prices will rise in volume. Lumber prices apparently have been stabilized. A canvass of the leading lumber manufacturers, distributors and deal- ers of the country today revealed the fact that only one producer forecasts materfally higher prices in the near future. All the others united in !ll‘l‘- ing that any Increases would be small. All declared there was no possibility of lower prices, because of increased wage scales and rising production costs. Sales Ahead of Production. Orders in the south and southeast and in some other sectlons have shown some slight falling off in the last week, but sales of mills still are far ahead of production and ship- ments. Manufacturers declare thats export buginess now on their books will more than compensate for any check to domestic demand occasioned by higher building costs and bad wei condition Tanlhle!ll.n‘( south d southeast Dro-’ ducers are being pulled first one wav and then another in their efforts to meet domestic requirements, fill tho increasing volume of foreign order and contend against inadequate transportation facilities. = Pacific coast producers show the largest volume of business on their books ever recorded and others aro increasing instead of diminishing. The lumber demands by consumers in California alone this year are esti- mated at a trillion and a half board feet. San Francisco and Los An- geles have each demanded more tha: three billion feet since the first of the year. Export Business Keeps Pace. Each increase in domestic demand has been paralleled by the volume of / export business. For nearly a year lumber pro- ducers have been determined that there should be no runaway market that would Serve to check buying They admit they are faced by a se- rious problem through encroach- ments of substitutes for lumber in building construction and the danger of creating a larger market for such substitutes by a further increase of prices. Consequently even urgent demand and premiums for imme- diate dellvery have not sufficed & induce them to advance prices be- yond their present levels. Australia and J. n Buying Here. Demand for American lumber in the far east will continue to increase for several years, according to L A. Ward, president of the American Trading Company, the largest export- ers of lumber to the orient “Japan has been forced to come here for her lumber supply,” Ward added, “because of failure to develop, any closer sources. Australia is rap- idly getting back to prewar condi- tions and the check to Australtan purchases in America is disappearing. Last year Australia took 700,000,000 feet of American lumber and she will exceed all records this year.” Ratlroads and Mines Big Buyers. Regarding domestic orders, Charles R. McCormick, head of McCormick & Co.. with branches all over the Pa-* cific coast, asserted today that orders in all sections of the coast were show - ing Increases, with railroads and es buying in large quantities. No price increases are contemplat- id he. “but certainly there will be no downward trend. Lumbermen are united in desiring that prices go no higher, because substitutes will be used if prices go too high.” A. D, Hammond of the Hammond Company, manufacturers and retail- ers, said: “Mills all up and down_the Pacific coast are sold far ahead of production and their books are ful of orders. Prices will remain sta- tionary, despite increased wages and production cests and a winter \\'hi.ch U made delivery of logs to many mills difficult and expensive Canada an Important Factor. Canada cannot be overlooked in this tremendous widening of the lumber market of America and the other sec- tions of the world. The available timber in the Frazier. B. C.. valley alone amounts_to~ 4.200,000.000 and Tmous reserves also remain other sections of British Columbia, Quebec and Ontario. The demand for felephone and telegraph poles in the eastern section of the United Statds s causing extensive operations with- In eighty miles of Vancouver. New Construction Records. NCINNATI, April 13 (Special).— N e o building construction in this city has broken all records since January 1, and the total for the Vear is expectéd to be the highest ever known here. Expenditures on the projects for w hich permits ha been issued so far are rapldly ap- proaching $5.000.000. The number Private homes and garages has been especially heavy. More High Records. ST. PAUL. April 13 (Special). Baflding operations in the Twin cities are expected to exceed all records fhis ‘year, although wages in the building trades will be 10 per cent higher after May 1. Permits issued so far this month in this city called for expenditure of well over City Also in Line. 1TY, April 13 (Special) —_— v th recore or ui ng cofim’-':;m: Swas established in tha first ten days of this month. Bulild- ing permits issued called for expendi- tures well over the million and a quarter mark. (Copyright, 1923.) AUTO SALES HOLD UP. i Detroit Denies Industry Is Now Going Too Fast. Special Dispatch to The Star. DETROIT, April 13—Rumblingsara heard here that the automoblle in- dustry is going too fast, but there is little in the volume of inquiries and in sales records from varlous States all over the country to sup- ort theso views. 7 P hie dally output of the Ford Amer- / fcan plant is close to 6,400 cars. The goal of 150,000 cars a month is likely o be reached before April 30. This Wil be absolutely the peak output for any month in the history of the Ford Company, and_probably will be the level at which Ford will operate until midsummer. The number of Ford employes is rapldly nearing 100,000 men, about 65.000 being_em- ployed here and 31,000 at the River Rouge works. ’ RESERVE BANK REPORT. NEW_ YORK, April 13.—The state- ment of_the condition of the Federal Reserve Bank of New York at the close of business April 11 shows: Total gold reserves, $1,060,372,854.75. Total reserves, $1,074,395,451.78. Bills_discounted, secured by govern- ment war obligations. For members, $137,336,696.34. Ali others, $44,838,965.67. . Bllis bought in open market, $46,839,- 692.66. | Total bills on hand, $229.015,354.67 Total earnings assets, $246,056.104. Uncollected items, $137.300,198.95. Due to members: Reserve accounts, $691,415,850.33. * Total deposits, $717.708.054.52. Federal reserve notes in actual Cir- culation, :$565,180,029. Ratio of total reserves to deposits and federal reserve note liabilities combined, 88.7 per cents wg