Evening Star Newspaper, April 17, 1923, Page 26

‘. " o8 MARKET DISPLAYS MUCH FIRMER TONE Southern Railway One of Strongest Stocks in To- day’s Busy Trading. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 17.—The action ¢ today's stock market, following the | rather disapppinting results of the pre- vlous day, demonstrated the truth of the observation that the market is in stronger hands than it was two weeks ago and is in much better condition than it was a month ago. No sustained effort was made to- day to attract an outside following. but the ease with which selected stocks were up, one after another. round the re- Motors fo 17—one, the report that an advance in priccs was coming. the other that present earnings justify an fincrease in dividends, and that this is not unrcasonable’ to expect later on. Dupont, as the big holder of General Motors, naturally had another sharn unward jumn, = Steel commen at one time was up a point on what the strcet considered a strong hint by Ghairman Gary that an oxtra dividend of fome sort was probable. . Southern Raflway Up. Among the rails Canadian_Pacific made a new high above 153, and Southern Rallway rose on larze tran: actions to 35. where it was only a half Point away from the best of the year. As was pointed out several davs ago. there have been signs that the old 0ol in Southern Rallway was getting usy again. basing its calculations upon current earnings which are run- ning at the rate of 7 per cent and upon the expectation that with the business outlook the way it Is now in the south the traffic volume will keep at a maximum for a long time to come. United States Realty and Reynolds Spring were features among the spe- clalties, the latter still responding to the statement which has been printed more than once that the company is earning at the rate of $8 a share. Two nuteworthy _exceptions to the | general tendency were Marine preferred, which broke to a new low, and Inter- mnational Paper. Texas Company Plans. Tt has been learned that the present | plans of the Texas Company call for an increase during 1923 of 40 per cent in its gasoline production. and by 1524, it Is said, gasoline production of the company will have increased 60 per: cent. i International Paper was a weak fra- ture today. and its decline was regarded in some quarters as further recognition | of the none too favorable condition of | the company's business as shown in a comparison of production and financial return during the past three years. In 1922 International Paper turned out 433000 tons of paper against 183,000 tons in 1921, but in spite of this 130 per cent increase In 1922 the company showed an operating loss. In 1921 the company made an operating profit. The March income statement of the Baltimore and Ohio Rallroad Com- pany_will show the largest gross for any March in the history of this car rier,” according to rellable soure The ficure will be something 11 £22,000.000, it is sald. No estimates are available regarding the net in-| come. Today’s Financlal Review. The stock market was again the main point of interest in the finan- cial situation today. Its strength | was of much significance in view of the doubt which arose in the minds of many after the unsatisfactory re-| sult_ of Monday's trading whether confidence in the general business | outlook was really as keen as it ap- peared to be on the surface. | The day’s dealings showed that the ; market. having_ completed its read- | justment after last month's specula- | tive excesses, was once more respon- sive to favorable trade news and to flattering estimates of company earn- ngs. The advance in money rates was of little consequence, for even the speculative element has come to un- derstand that the main thing in the money market is not the fluctuations | in the stock exchange call loan sup-, ply, but the cost of federal reserve | rediscounts. So long as the banks { refuse to avall themselves of the re- | discount privilege the way they have | been there is little Itkelihood of further increase in rates on’ long- term credit, and It is these which count the most. Rail Wage Demands The demand for higher wages on the railroads is a conslderation of much more importance, for doubtedly the employes will 8 strong case before the Labor Board, first, in the increased cost of living, and, second. in the very gen- eral advance in wage schedules in other industries. Operating ex- penses are already swollen beyond the ordinary by the large appropria- | tions that are being made for mainte- nance of way and equipments. If on top of this there was to come a good size increase in payrolls it Would necessitate much thinking as to the extent to which the carriers would be able to retain in their net earnings the exceptional gross profits which seem well assured for the remainder of the year. Raflway shares were not disturbed by any such misgivings today. They were not as prominent in the market as were the fndustrials, but they were stronger and appeared to be! attracting more interest. Another Break in Ofln. The markets were inclined to place | the same interpretation as the news | dispatches upon the speech of the German foreign minister, part toward a settlement of repara- | tions. In the last hour fresh selling broke out among some of the ofl shares. Texas Pacific Coal and Oll dropped more than a point. Weakness con- tinued in the shipping stocks and in Computing, Tabulating and Record- ing, the latter on reports of an im- pending issue of new stock at 76— that is, 6 points under the price at which the shares opened this morn- ing. SOUTHERN’S EARNINGS. RICHMOND, April 17.—Southern | Railway's earnings for the first week | of April totaled $2,99%,263, an Increase | of 16% per cent over the correspond- ing week last year. This Is particular- ly encouraging to students of pre- liminary rallroad statistics, who point out that last yvear Southern roads made a wonderful showing. forging ahead to become the leaders so far as earnings on valuation go. Another significant fact is that in March Southern railroads earned their full 6 per cent on tentative valuation de- spite a declining trend in railroad in- mainly | G that it was a feeler on Germany's | FINANCTAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office For Revised Close of Stock Market see 5:30 Edition of The Evening Star. | Tow. Close. | W 69% Alr Reduction.. .u- Rubber. ... Alaska Juneau. Alliea Chem. ... 1lts Chaimers. . At 8 gar 1st pf Am Agr Chem.. Am'Ag Chm pf.. Am Beet Sugar.. Am Bosch . Am Can. 3 Am Canpf... Am Chain A Am Druggist Am Am Metals. Am Radiator. Am Safe Razor. Am Ship&Com. . #n Smelting. . Am Snuff, = Am Steel Fdy. Am Sugar, Am Sugar pf. Am Sumatra.... Am Tel & Telg.. Am Tobacco.... 1 Am Tobac (B).. Am Water Wks. Am WWk6% pt Am WWk1% pt Am Woolen Am Woolen pf.. Am Writ Prpf.. Am Zinc&Lead. Am ZinckLd pf. Anaconda. Ann Arbor pf. Asso D Goods. .. Assoclated Oll.. Atchison. Atehison pf. Atlan Cst Line. . Atlantic Frult.. Atlantic Gulf Atl Gulf pf. Atlantic Ret. Atlas Powder Atlas Powd pf.. Atlas Tack..... Austin Nichol: Auto Knitter. Balawin Loco Balto & Ohlo. Ralto&Ohin pt. . *Bank of Com. .. Rarnesdall (A). | Barnesdall (B). Bayuk Bros..... Reechnut Pack. Beth Steel. .. Beth Stl 1% (n) Beth Stl 8% pf. Booth Fish. Bklyn Edison Bklyn Un Gas. Brown Shoe. Butte Copper. Butte & Super.. Calif Petrol. ... Callf Petrol pf. . Callahan Zinc. . Calumet&Ariz. . Canad'n Pac. Case (J 1) pf. Central Leath Cent Leath pt Century RibM Cerro de Pasco. Chandler Mot Chesap & Ohfo. . Chl & East 111 Chi & ETpL... Ches & O pf wi.. Chi Grt West... Chi Great W pf. Chi Mil & St P. | chi Minaser pt.. Chi & Northwn.. ChiR1& Pac Chi RT & P6%Dpft . Chile Copper. Chino Copper Coca-Cola. Colo & South. Columbia Gas { Columb'a Grap Col Graph pf. Comp Tabulat. . Conley T Foil Cons Cigar pt Con Gas new | Cons Textile. i Cont Can. Cont Can pf Continental Mo. Corn Products. . Cosden & Co. Crex Carpet | Crucible Stee Cuban-Am Sug. Cub Cane Sug Cuba Cane S pf. Cuban Dom’can. De Beers. Del & Huds i D Lack & Wstn. Detroit Edigon. . Dome Mines. . DuSS & Alt I)f Dupont (ED)... Eastman Kod ! Elec Stor Bat... Endicott-John. . Erle. . Erie 1st pt Famous Play. .. i Fd Mines&S pt. . Fif AvBus wi... Fisher B of O pf. Fisk Rubber. ... Fleishman...... Freeport Texas.. Gen Am Tk Car. Gen Am Tk pf.. Gen Asphalt pt. Gen Asphalt. ... Gen Clgar Gen Electric.... Gen Elec spl wi. Gen Motors. Gen Motors pt. . Gen Mot 6% deb. Gen Mot 1% deb. Great Nor Ore.. Greene-Canan. . Guantana Su. Gulf M & Nor pt. Guif St Steel.... Hayes Wheel.... Houneh'd Prod.. Hydraulle St pt. Illinois Central. 11l Central pf. Indiahoma. Inspiration. Interb Rap Tr... In Ag Chem pf.. Int Cement..... 1n Combust E... Int & Grt North. Int Harvester. .. Int Mer Marine.. Int M Marine Dl. come. . i LIVERPOOL COTTON. ! LIVERPOCL, April 17.—Cotton, spot in falr demand, prices easy. Good mid- dling, 15.62; fully middiing, 15.47; middling, 15.37; low middling, 15.1 good ordinary, 14.62; ordinary, 14.32. Sales, 10,000 bales, including 5,000 American, Receipts, 1,400 bales, all American. Futures closed steady. April, 14.84; May, 14.82; July, 14.58; Ortober, 13.61; January, 12.99; March! 12.85. PARIS MARKET FIRM. PARIS, April 17.—Prices were firm on the bourse today. Three per cent rentes 57 francs, 27 centimes. Ex- change on London, 70 francs, “ cen- times. Five per cent loan 74 francs, 85 centimes. The dollar was quoxea at 156 franes 12 centimes. Int Nickel {1ntl Paper Intl Paper (sta). 1nt Shoe Kansas & Gulf. . Kayser (Julius). Kelly-Spr Tire. Kelsey Wheel. Kennecott. Keystone Tire Kinney G R pf. Kresge (SS). Open. High. 9% 69% 112 63% 143% 143% 404 39% 81% ROY% 106% 106% 140% 139% 534 52% 108% 108% 5% 112 1% l 1% 18 118 5% 9 1% 94% 92% 102% 102% 9% 9% 60 58% Ivl% 152% IMVI 102% 6% 6% 13% 23% 39% *2 a3% 80% 28 274 1 8 9% 16% 78 6% 1 48% 4T% 1064 106% 10% 9% 4 128% 127% 2% 27% 112 112 121% 121 106% 105% a1k 41% 5 5 139% 132% 112% 112 64 64 73 3 12 1% 19% 18% 88% §7% 18 17% 66% 66% 114 114 114% 114% 4 14 3% 3Th 30 m’m lfl'fli SD\ 39“ 60 694 108 105 40% 9% 18% 1% 2% ©pen. High. Low. Clese. 18% 18% 18% 8% 12 112 12 144 146 144 Lorillard pf. Louis & Nash. o M Malilson & Manati Sug n-nnnunm.v. Map El inv guar, 38 | Manhat Shirt Market St Ry, Marland Ol N 2% Mex Seaboard. Mox 8bd ctta tam Coppe Middle St o1, Mln St P&SS M. 0K & T (new). % lfllk'l‘ pf clA (n) % iy Mo Pacific. . Mo Pacific pf. Montg'v Werde .. Moon Motors. ... Mother Lode. Nash Motors atl Acme. . Nat Biscult w 1., Nat Cloak&Spf . . 1 Dept !tlll’em Natl Dept Sto pf. Nevada Copper. N Or Tex&Mex.. Y Alr Brake. . 'Y Afr Brk(A).. Y Central. . 4a | Nunnally Co. .. 25% 19 129 170 140% 53 58% 296 26% 17% B58% 76% uv. 108Y% 5% 1nz 1% 1% 118 63% 9 23% 41% *2 34% 80% 28% 27% 1 Ohio Bdy & Blw. Oklahom Prod. . Orpheum Cir.... Otis Steel. Plrklrd Mnlor‘ Pan-Am Pete... Pan-Am P (B).. Panhandle. . Parrish & Bing. Penn Coal & C'ke Penn Seabd Stl.. Pennsylvania... People’'s Gas Pere WINIX!!!' Pere Mrq prpf.. Philadeiphia Co, Philip Morris. Phillips Pete Phoenix Hosl Phoenix Hos Df Plerce-Arrow... Plerce-Ar pt . Plerce Oll. Pitts & W Va. Pitts& W Va pf.. Postum Cereal.. i Produc & Ref... Pub Service Pub Serv (new). Pub Serv pf..... Pullman Co..... Punta Alegre... Pure Oil. Rallway St Sp.. | Ry Stl Spr pt Rap Tr Sec RapTr Sec pf wi Ray Con Cop. Reading........ Reis Robert pf.. i Remington. . Replogle Steel. . Rep Ir & Steel. Rep Ir & Stl pf.. Reynolds Spr. Rey Tobac (B Royal Dutch. ... St L&San Sran.. St L Southwn. .. St L South pf. San Cecl] Sug. .. Savage Arms. Seab’d A L pf. Sears Roebuck.. Seneca Copper. . Shell Tr&Tran.. Shell Union. Shell Unlon Simmons. | Stimms Pe i Sinclatr OIl. Sinclair pt Skelly OIl. Sloss-Sheffield. . So Porto Sugar.. South Pacific. .. Southern Rwy.. Southern Ry pf. Spicer Mfx Co Spicer Mfg pf. StOll of Calif... St Ofl Calif rts.. Stand Oil of NJ.. StOllof NJ pf.. Steel&Tube pf. Sterling Prod. Stern Bros pf. Stew’t-Warne: Stromb'g Carb. Studebaker. Submar’e Bo. Superior Ofl SweetsCoof A.. Tenn Copper.... Tex Company... Tex Gf Sulphur. Tex & Pacific. Tex & PCOIl. ‘Fimken Bea Tobacco Prod Trans Cont Oll.. UnionBag & P.. Unlon Pacific. Unton Pac pf. United Drug United Fruit.... United Ry Inv.. Utd Ry Inv pf... 9% | Utah Securities. % | Woolworth. 21% 60% 107% 1% 39% 59% 105 22].“ 81 ‘Vanadium Cop. . Van Raal Va-Car Chem... Vivadou. ‘Wabash. Wabash pt (A). . Welt Pacific.... West Pac pt. . ‘Westhse E1&M. . Westhse 1st pf.. Willys-Overid.. 7% Will's-Overl pt.. 66 Wisconsin Cent. 30 - ns zu :u sne” Wright Aero.... 9% 10 'lm % n oqn Youngstn Tube. * 0dd lot. High. Low. Last. Call Money % 5 0 HOURLY SALES OF STOCKS. 11lam..... 225600 12m. 1pm..... 545500 2p.m BAR SILVER QUOTATIONS. LONDON, April 17.—Bar l“Vel‘. 32 7-16 pence per ounce. Money, 1% per cent. Discount rates, short 't bille, cent; three-month bills, 85 | 2 1 16aB% per con e e e 2K | NEW ceat. YORK, ~April 17.—Foreign bar silver, §7; Mexican dollars, 51%. {021,516 % | October, 24 4262001 " mmcuns HIGH FOR YEAR Domestic Issues Do Little in Today’s Trading—Lib- erties Quiet. BY GEORGE E. HUGHES. Special Dispateh te The Star. NEW YORK, April 17.—The feature in today's bond market was the strength in foreign issues, notably the French. A new high for the year was re- [ xev vorr BONDS o secmvr] Recelved by Private Wire Direct to The Star Office. For Revised Clos: of Bond Market see 5:30 Edition of The Evening Star. (Sales are is $1.000.) UNITED STATES IOND‘. (Fractions represent thirty - Exampl N}:L‘mflnl 101 \-3’ ) 97-21 98-4 97-25 100 836 n-u 4% US4%s1952.10] FOREIGN. Sales. High. 17-23 100 Argentine 7 Belgium 8s. Bern un.uo:un. High, Low. Close. ct 62% 62% 86% | 85% Atchison adj 4s. 78% . Atlantic CL 1st is 85 9 9 H 97428 97-21 97-22 97-19 85 84 5% 76% 1 S8 alv 3Y%s. Bklyn R T 4n 2002, Bklyn RT7s'21 1 RT ;; ct. ctst, Canadian North 7s Canad North 6%, Canad Pac deb 4, 5 | Car Clinch & 06 corded for French 8s and the 7%s 5 were also firm. Today's price for the 8s represents a gain of 10% points from the low of all time, which was reached in the latter part of Jan- uary of this year, when the French first marched into the Ruhr. The explanation for the favor now extended French bonds is the expec- tation of some agreement with Ger- many which today's cable dispatches seemed to foreshadow. It is Inter- esting to note that even after today's advance French 8s gave a higher re- turn both current and to maturity than the 7%s. Other Issues Strons. French provincial and municipal bonds shared the improvement shown by the direct obligations of the re- public. This was notably the case with the Department of the Seine 7s, Which equaled their high record for the year, but still glving & maturity yield of 8% per cent. New highs were also reached by the City of Bor- deaux 68 and the Paris, Lyons and Mediterranean 6s. The advance in French securities contrasted strongly with the ness in French exchange. Other foi eign bonds in demand Included Bel- glan 83 and Dutch East Indles 5% both at new highs for the year. Marland 01l Spectacular, Outside of the foreign list the gen- eral bond market was dull and not- withstanding fractional advance here and there inclined to be heav: There was very little real investment buyin, Marland Ofl 85 with warrants made another of thelr spectacular gains. Morris and Company 4% sold down a Libertys, although activity what greater than yesterday. FURTHER ADVANCE INEXPORTS SHOWN Increase for Every Grand Trade Division Except Asia During February. February exports from the United States, which had a total of $307.- 207,673, showed an Increase for every one of the international grand trade divisions except Asia over the total in February, 1922. For the eight months ended with February. 1923, exports amounted to $2.653.921,050. compared to $2,480,- during _the cnrresnondln: eight months ending February, 192: COTTON RECOVERS AFTER PRICE BREAK v | Firmer Tone Shown in Market Today—Weather Reports Factor. By the Associated Press. NEW YORK, April 17.—The cotton market showed indications of rather a firmer technical position following the sharp break of yesterday. The opening was steady at an advance of 3 to 25 polnts In response to rela- tively firm cables and "' there was probably some buying on reports of further rains or showers in south- western and central parts of the belt. The opening advance met a renewal of old long liquidation, which sent July off to 27.38 and October to 24.68, or within two points of yesterday's closing quotation, right after the call, but there was a good deal of cover- ing and a little trade buying which gave the market rather a better un- dertone. July soon rallled to 27.54, and October to 24.85, with the more active months ruling about b to 23 points net higher during the early trading. NEW ORLEANS, April 17.—Cotto! opened steady. May, 27.569; July, 27.3' October, 24. December, 23.94; Jan. uary, 23.77. Cold and wet weather. in the belt put the price of cotton higher by 20 to 28 points in the early trad- ing today, May rising to 27.70 and October to 24.39. Reports that spin- ners were fixing prices were a sup- port and so was the further shrink- age In the stock of ocertificated cot- ton in this market, the latest figures being 6,892 bales, with further ship- ments out of it expected in the near future. NEW YORK, April 17.—11:456 a.m. bids: Steady: May, 28.31; July, 2156; December, 24.33. NEW ORLEANS, April 17.—Cotton futures noon bide: May, 27.72; July, 27.43; October, 24.32; December, 23.92 asked; January, 23. steady. —_— FOREIGN EXCHANGE. April 17, 1923—1:45 p.m. {lenlom furnished by W. B, Hibbs & Co.) Nominal Selling checks 4 yal tod: wold ralue. " today. By the Associated Press. NEW YORK, Aoril 17. —l!hrel:n ex- changes irregular. Quotations (in United States dollars): Great Britain, demand, 4.65%: ocables, 4.65%: ty day bills on banks, 4.63% demand, .0856% ; cables, .0657. demand; .0491: cables, 0491 um, demand, .0566%: cables, .0567. ermany, demand, .000043%: cables, .000043%: Holland,” demand, .3914; cables, .3917. a .1807. 1885. Spain, amand, 1634, demand, 6. 011 Poland, Czechoslovakia, Argentina, demand, .: Brasty demand, 1095 Montreal, 87 9-16. 3 ALL OFFICERS RE-ELECTED. All officers of the Richmond, Fred- ericksburg and Potomac railroad were rn-ol at the annual meeting y stockholders of the r ldontlon of annual reports was Lnly other business taken up. Hrlzll T%s. Canada 5%s 1929 Canada 5s 1931. Canada bs 1952. Chile 83 19 Chile 85 1941. Chinese Gov Ry §s Christiania 1 Copenhagen 5%s. CubaG%awi. Czechoslovakia French Govt 'l';fi! 12! Haltl 6s ctfs Holland-Amer 63. s Japanese 1st 4 %s. 49 Jergen UM 6547, Lyons 6s Marseilles 6s. Mexico 5s. Mexico 4s. Montevideo 7s.... Netherlands 6s.... Somocm a Rio Gr Do Sul Sao Plulfl‘sllle Seine, Dept Berbs Crotes slo ll s;.;.... n B8man Ud Kingm 5% 21 Ud Kingm 5%s ‘37 "a Uruguay 8 103% 105 ullcELLANEoUs. Ajax Rubber 8s... 13 98 Am AgrChem 733 4 Am Cotton Ot 5x.. 1 Am SmIt&R 1st 5s Am Sugar Ref 6s. AmT& Tcv 6s. AmT& Tl tr 6 AmT& Tecltr4s Anaconda cv db 7s. Anaconda 1st 6s. .. Armour & Co 4%s. Atlantic Refin 5s. . Bell Tel Pa 5s rct Beth Steel s f 6s Brier H St 1st 5% Bklyn Edison 7s D Bklyn Ed gen 5s. Central Leather ts Cerro de Pasco 8s. Chile Copper 6s. Chile Copper 7s. CinG & E5%s 62, Con Coal Md 1st 5s Cuba Cane cv d 8s. Det Edison ref 6s.. Du Pontde N 7%s. Duquesne Lt 7%s. Duquesne Light 65 18 F: Cuba Sug 74s. . Empire F&G T%s. Fisk Rubber 8s.... Gen Refractes 6s.. Goodrich 6% 5 I(‘.uodyur 851931 9% 101% 67 89 + 102 Goodyear 85 1941. . Humble O&R 5%s. Indiana Steel 58 Int Mer Marine 6s. Int Paper 1st 55 B. Jullus Kayser 7 Kelly-Spring 85 Lackawa S 55'50. i Lorillard (P) 6s. Manatl Sug sf 7%5 Marland Ol 7% Marland O 7%* v Marland Oil 85 w . Mexican Petrol 8s. Mich St Tel 1st 5s. Midvale Steel 5s. Montana Power 5 Morris&Co 1st 43¢ New Eng Tel 5s... Edsn 1st 6%s. N Am Edison 6. N States Pow 58 Northwst B Tel 7s. Otis Steel 8s. Pacific Gas & El s PacT & T 6s'52 Phila Co ref Plerce-Arrow 8 Producers & Rt 8 Public Service 5s. Punta Alegre 7s Sinclair Oil 7s. . .. Sin Crude Ol1 5% Sin Pipe Line 5s South Bell Tel 5s. St Oil of Calif 7s.. Steel & Tube 7s. .. Tenn Elec Pow 6s. Tobacco Prod st 7s Toledo Edn 1st 7s. nion Bag & P 6s. S Rub 1st rf 6 U S Rubber 7%s. USSteels fbs. Utah Pow & Lt 5s Va-Car Chem 7s... Va-Car Chm 7%s v Warner Sugar 7. West Union 6% Wilson&C cv 7%s. Winchester A T%s “HAWAII BILL OF RIGHTS” MEASURE INTRODUCED “More Complete Recognition by Congress” of Territory Purpose of Proposed Legislation. By the Assoctated Press. HONOLULU, April 17.—A measure known as the “Hawall bill of rights” was introduced in the legislature to- day by Representative Coney, its pur- pose being to “define and declare the | b, Claims of the territory concerning its status in the American Union.” The bill provides for the appoint- meng of @ commission to “secure more complete recognition of such claims by the federal government.” The commission would be sent to Wash- ington with instructions to obtain “legislation including Hawall in all id of good roads, education, s, maternity aid, home eco- nomies, training in agriculture, trade and industry and all other acts of a 1ike nature which apply to the states as a whole.” It is set forth in the measure that .| Hawall is an integral part of the United States and cannot be discrim- inated against, and that the territory should accorded all the benefits and privileges enjoyed by the states. The bill contains nearly ten thousand words and reviews the history of the territory since its annexation. It pro- tests that an alleged misunderstand- ing _exists on the mainlan territory is an “! —_— Ninety-five per cent of the hotel ac- commodations are chosen directly or indirectly by women. Central Pacific 4: Ches & Ohlo cv 5 Chl M&St P cv bs. . Chi M&St P 45°25. . Chi M&S Pev 4143, ShIM&S P ds 34 tPgn 4l Chi& N W 8%he Chiga Nw7 Chi Rys 5s. ChiRT& Pacrt s Chi Un Sta 4%s. Chi Un Sta 6 Chi & W Ind cwds, Chl & W Ind 7%s. . 8StLrf6sA.. Cleve Term 5%s Colo & Sou 434 Cuba R R 6 Del & Ha n 5l s o D&RGlIstrfbs Det United 4%s. . Erlo 1st con 4s Erle con ext 7s T Bow aoanwmarnn oo Erfe conv 48 A Erie conv 45 D oyorey naoh Grand Trunk 7s. Gr North gen 7s. Gr North gen 51, GreenB& Wdb B Havana ERL&P &8 Hud & Man ret 5, Hud & Man a§ 5 111 Central 5%s. .. Int Rap Tran 5s... Int R Transit 7 Int & G Nor aj 6s Towa Central rf 4s Kan City F't S 4s. Kansas City S 3s Kansas City'S 5s. Kan City Term 4s. Lake Shore 45 '28. Lake Shore 4s'31. Lehigh Valley 6s.. Touls & Nash 7s. .. Louls & Nash 5%s. Market St cn 5s. MIEIRy &L 6s. M&StListrfds.. 88! 99 © - §A-—nmmomu»mmuommummw waSe Mo Pacific 55 Mo Pacific gn 4 Montrl Tm 1st 5s. . Nassau E Ry 48 ‘57 NOTex&Mins N Y Cent deb 6s. N Y Cent deb 4s. NYCentriss. NYCenLScliy New Haven c d 6 New Haven 7s fr NY State Ry 4143, NY W & Bos 43s. Norfolk & W cn 4s Norfolk & W cv 6s. O Short L cn 55 '46. Ore Short L ref 4s. Ore-Wash 1st rf 4= Pennsyl gen 5s.... Pennsyl gen 4%s. . Pennsyl 6345 Pennsyl gold 7s. Pere Marq 1st 5s Rapid Tran 6s w1 Reading gen 4s. Rio G West cl 4s RIArk& L4%s.. St LIM&S R&G 4s StL&SFplisA. 23 Seab'd A L adj 5s.. 43 Seab'd A L con 6s.. 11 Sou Pacific ref 4s.. 15 Southern Ry 1st 58 12 Southern Ry gn 4s 20 Southern Ry 6%s. 21 8 Third Averef 4s.. Third Ave adj 5s, Union Pac 1st 43 Western Pacific 55 Wheel & LE cn 4s. Whel &LE rf 4338, ‘Wisconsin Cent 4s. & TOTAL SALES (Par Vi 11am.. 3349000 12 noo lpm.. 7289000 2pm.. BACKS “DIRT FARMER.” Secretary Wallace Recommends E. H. Cunningham for Reserve Board. Telegrams from Secretary Wallace indorsing E. H. Cunningham, presi- dent of the Iowa Farm Bureau, for appointment as the “dirt” farmer of the Federal Reserve Board were pre- sented to President Harding yvesterday by former Senator Rawson of Iowa. The telegrams, addresseq to Mr. Raw- son and Senator Cummins, also of Iowa, were sent by Mr. llace from Las Vegas, Nev., and sald the ap- pointment of the Jowa man would in the opinion of the Secretary be emi- nently satisfactory to the farmers of the west. —_— DISCUSS STREET NEEDS. Board of Trade Committee to Map Out Year’s Program Early. Plans for needed street improve- ments in the District will be discusse: y the committee on streets and ave- nues of the Washington Board of Trade Friday afternoon at 4:16 o'clock in the board ronms in The Star bullding. It is the purpose of the com 8190000 Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. Light receipts and a great demand has advanced the prices of cheaper grades of beef. Dealers are scarcely able to get supplies enough to supply demands at the advanced prices. There is also a largely increased demand for choice grades of beef, making the market steady. Lambs also are in good demand at 28 and cents. Spring lambs, not yet plentiful, find ready sale at 35 0 cents. report an absence of indi- cations of a break in the egg market. Eggs are being put In storage at hllher prices han usual, it is report- ed. A weakening in the butter mar- ket is reported, the price being 2 cents off. Eggs—Strictly fresh. selected, can- dled, per dozen, 26a27; average re- celpts, 25; southern, 25. Live _poultry—Roosters, per Ib., 17; turkeys, per 1b., 25a35; spring chlckenl. per 1b. ‘winter chickens, per 1b,, 40a50; kelu, young, each, 65; apring chickens. per b, 15.3 ter chickens, per Ib., 45450, 32 rnonerl. per 1 T i5as0} keats, young, a80. Live stock—Calves, cholce. per 1b. all; medium, e W s 20. Mn. 300 each; hogs, per 1b., 7.50. 480a5.50; Florida. 0504650, Lemons. per box, 4.00a4.50. Grapetruit, 3.50a vuu.hxn—?m.mu. per bbl, No. 1, 2.00n2.50; per sack, 2.75a3.00; No. 2, 50a1.00. Bweet potatoes, North Caro- lina. 2.003.00; nearby. £.00a3.00. Let tuce, ‘per crate, southern, Romaine lettuce, per crate, 1.50a2; 2 Iceberg lettuce, per crate, 3.25a3.50. Nearby cabbage. per bbl. 15025 lout?ern‘ 2.0088.75 per. b ket. California oranges, F 2. 20as 00 per_basket. per basket. = Kale, per burel loo Spinach. per bbl., ("eleryv per crate, Florida. 215-8 25 Squash, 2.50a4.00. Florida lima beans, 0a5.00 per basket. South Carolina un-nru:, 2.5026.00 a dozen. GRAIN AND PROVISIONS. BALTIMORE, Md. April 17 (Spe- cinl).—Potatoes, white. 100 pounds, 50a1.65; 150 pounds, 1.5023.00: sweets, barrel, 1.25a2.00; bushel, 40265; yams, barrel, 1.50a2.0 bushel. 50a75; asparagus. dozen, 3.00a6.00; beans, bushel, 2.00a4.00; beets, hundred, 5.00a 7.00; cabbage. hampers, 2.00a2.50; car- rots, hundred. 3.00a5.00; caulifiower, crate, 2.50a3.00; celery, crate, 2.00a egg- bushel. 3.00a3.50; kale, bushel, 50 tuce, onfons. let- 100 0; 'p basket, 0: peppers, crate, 3.50a5.50; radishes, bushel, 2.0024.00; spinach, bushel. 65a 1.00: squash, crate. 3.00a4.00; tomatoes, 0a4.00; turnips, crate, 50a60. Applés (pa barrel), : bushel, 1.00a1.75; box apples, 275; " grapefruli, - box. " 2.50a4.00; oranges. box, 3.50a6.00; strawberrlies, quart, 20a45. Selling Prices at 12130, ‘Wheat—No. 1 red winter. spot, no quotations; No. 2 red winter, spot, 1.413; No. 3 red winter. spot, no No. 2 red winter, gar- . 2 red winter, gar- quotations; April, quotations lcky, 1.38% licky, spot, no 1383, Sales—None, Corn—Cob corn, new, 4.65 per bar- rel; contract, spot, 89% per bushel No. 2 corn. spot, . 4, no quo- tations; track corn, vellow, No, 3 or better, 94 and 9413 per bushel. Sales—650 bushels of No. 2 mixed at 91: 180 bushels of No. 5 mixed at 85. Oats—White, No. 2, 55% and 56 per bushel; No. 3, '54% and 55 per bushel. Rye—Nearby, 80a30 per bushe! 2 western export, spot, 96 per bushel; 3, no quotations. ay—Recelpts, 113 tons; ample re- ceipts for all trade wants from 17.00 to 21.00 per ton. The market is dull for lower grades and inferior hay and of uncertain vaZue. No. 1 tangled rye. 15.00a ; No. 1 wheat, 12.50213.00; No. 1 0. TODAY'S CHICAGO PRICES. CHICAGO, April 17.—OVing largely to an unlooked for scarcity of offer- ings, wheat took an upward awing in price today during the early dealings. Bullish crop reports, especially from western Nebraska, tended to ‘stimu- late buying, and so likewise did com- parative steadiness of quotations at Liverpool. _The United States Su- preme Court decision upholding the valldity of the grain futures act ap- peared to have lost effect as a bearish influence. Opening _prices, which varied from unchanged figures to % higher, with May 1.243 to 1.243%, and July 1.22% to 1.22%. were followed by a moderate general advance. Corn and oats were firmer with wheat. After opening unchanged to % higher, May 79% to 79%, the corn market -scored gais all around. Oats started unchanged to ¥ off, May 46% to 45%, but soon rallied to above vesterday's finish. Provisions were easy in response toa decline in the hog market. Open. Lot 11.30 152 9.02 . 1027 11.30 1152 X 9.2 1035 1027 DAIRY PRODUCTS. \BALTIMORE, Md. April 17 (Spe- 1). ‘Young chickens, poun 35; poor and thin, 25; winters. 40a45; spring, 58a60: old hens, 27a28: small‘and leghorn, 26a27; old roosters, 16a16. Ducks, 28a32; small and poor, 25. Pigeons. pair,” 35a40. Guinea fowl, each, 40260. Eggs—Loss off, native and nearby firsts, dozen, 25: southern, 24. Butter—Creamery, choice to fancy, 47249; prints, 49a51; nearby cream ery, 45a48; ladles, 43a45; rolls, 39a42; store packed, 39; dairy prints, 40a42; process butter, i CHICAGO LIVE STOCK MARKETS. CHICAGO, April 17.—(United States Department of Agriculture)—Hogs— Recelpts, 28,000 head; slow, mostly 10c lower than Monday’s best time; bulk, 160 to 210 pound averages, 8.35 a8.50; top, 8.55; 225 to 325 pound butchers, ~8.00a8.30; packing sows, weak; - pii une bulk _ packing Sows, 7.00a1. 25 Qesirable 100 o 130 00a8.00; heavy welght hogs 7.85a8.30; medium weight, 8.15 28.46; light weight, 8.10a8.55; light light, 7.00a8.35; packing sows, smooth, 7.0027.35; packing sows, rough, 6.75 27.00; killing pigs, 6.50a8.50. Cattle—Receipts, 10,000 head; fairly active, generally steady to strong; spots higher on better grades beef steers; early top, 9.66; some held above, 10.00; bulk beef steers, 8.50a 9.65; several loads mixed steers and heifer yearlings, 9.00 down; veal calves largely 50c higher; stockers and feeders, slow: weak; selected 1160 9.07 1030 mittee, of which George C. Shinn is chairman, to get a list of projects in early to give the Commissioners ple time to consider them before ing up their estimate: Chairman Shinn has instructed all members to bring to the meeting a list of streets which, through their own knowledge, need immediate im- provement. —_— Sign Was Right. | From the Richmond Times-Dispatch. Remember that sign on Deacon Pickenderry's place, that read, “No fishina!” Remember how you and I climbed in between the barbed wires, anyhow, and spent all day angling in the sheer delight of unlawful possession? And remember how, after a futile investment of hours, we wound up and went home, with'a backward look at the sign, “No fishing!" The sign was right. There wun‘lx any. ~ half fat kinds fully steady; several loads to feeder dealers, 8.35a8.50; one load, 1,199 pound averages on general point account, 9.15; bulk bologna bulls around 6.00; bulk stockers and feeders, 6.75a7.75; bulk veal calves to packers early, 8. 2528.50. Sheep—Recelpts, 20,000 head; active; lambs eteady to strong; top, 14.60 to packers and shippers; bulk desirable wooled lambs, 14.26a14.60; clippers mostly 11.00a11.50; heavy kinds largely 10.00210.35; shegp steady; two decks, 104-pound’ wodled wethers, 9.00; one double-clipped 90-pound description, 8.40; medium wooled ewes, 8.50. Ingenue—Look here, this is scan- alous. I've only got one bunch of posies presented to me. Stage Manager—Well, that's better than nothing; what are you grum- bling about. Ingenue—Grumbling? I like that; &rumbling, when I puid for four! Green trulu—Applu. per bb < 3.008 | W, t LOCAL SECURITIES SHOW FIRM TONI Railway Common and Pre ferred Steady — Land Bonds Offered at 100 1-2. BY L A. FLEMING. A diversified line of business wa transacted on the local stock ex change this morning. As a rul¢ prices were fractionally higher an the feeling was more encouraging u larger trading and a better markel Rallway common sold at 68% t 68% and held its improvement. Th preferred shares sold at 743 to 74} Capital Traction was steady at 9913 Mergenthaler was active in a smal way at 160% to 161, while Lansto |mnroved from 77% to 17%. Washington Gas sold up to 40% from an opening at 49%. In the miscellaneous list Norfoll and Western Steamboat brought 21¢ Continental Trust shares 90 and Eas hington Savings Bank 19% La; ank Offering. Successful bidders for the § 000,000 Federal Land Bank 4% pe cent bonds, which sold yesterday i1 an hour or so, are offering the bond: this morning to the public at slight advance on the purchas price, They are ten-thifty redeemable before January 1, 1933 and January 1, 1953. The price “at which they ar offered is 100% and accrued interest equal to a yleld of about 4.45 pei cent to optional date and 4% per cenl thereafter. vear bonds, no e West. Francis M. Bavage of the Northwes Savings Bank has gone west for i conference with E. N. Baty, executivi manager of the United States Assocla tion Opposed to Branch Banking. Drawing Down Cash. The Treasury today called on bank having proceeds of the last sale ol Treasury certificates, T. S. 2, due Sep tember 15, 1923, to pay into their re spective banks 37,713,800, and holder; of proceeds of T. M. due March 15 1924, to pay in $16,066,900. The demand of the Treasury, prepa ration for the payment of May taxe: and the increased industrial money it causing some little worry on the pari of borrowers, but Wall street report: plenty of money in brokerage housc: with o inclination to tightness. There has been no let up in the in quiry for mortgage money, and the great activity in building continues unabated, furnishing a place for a spare cash seeking this class of in vestments, It is more than probable that ans flurry in the money market would be nothing more than temporary. MORE PRODUCE REACHES NEW YORK MARKETS New Crop Potatoes Get Slightl; Higher Prices—Orange Shipments Heavy. Special Dispatch to The Star. NEW YORK. April 17.—The carl receipts of fruits and vegetables fo: the past week on the New York city wholesale markets showed an in increase of several hundred cars ovel the previous week. Approximately 2,500 cars were recelved from man) parts of the United States, as wel as some shipments from forelgt countries. It Is Interesting to nots that white potatoes continued to hold first place among vegetables with 421 carloads, white oranges were th( most important among the fruits witk 378 carloads. Supplies of new crop potatoes wery more plentiful today. About 2,00( barrels arrived from Bermuda, where. as 1,400 barrels were received fron Florida. The market was slightly weaker with the demand moderate Prices ranged from $15.50 to 16.00 pe double headed barrel for No. 1 Flori. da Spaulding rose, whereas Bermud: red garnets sold at $17.00 to $18.00, Receipts of od crop white potatoes were fairly liberal. The market con. tinued firm, with prices slightly higher, especially for fancy stock and the demand was moderately ac’ tive. WALL STREET NOTES. More Sugar Mills Close—Bank Clearings—Stocks Ex-Dividend. Speclal Dispatch to The Star. NEW YORK, April 17.—Three more sugar mills in Cuba have finished grinding, making_ 46 that have finish- ed crops out of 182 that were ope: ating. At this time last year 1 were operating. The Illinois Bell Telephone Com. pany has petitioned the Illinois com mission to increase the capital stock by $10,000.000 to $70,000,000. The company plans to spend '$15.000.000 for new construction this year. mates for & five-year program of con. struction will reach $100.000,000. Ex-dividends today: Havana Elec- tric Raflway Light and Power pre- ferred and common: Mullins Body pre- ferred: Reading Company; Sterling Products. Checker Cabs Manufacturing Cor- poration declared a dividend of 831-3 cents on class A participating stock and quarterly dividends of $1.25, pay= able August i, November 1 and Feb- ruary 1, 1924. New York bank clearings $954,000.- 000. New York bank balances, $70.- 000,000. New York Federal Reserve Bank credits, $47,000.000. Boston bank clearings, $78,000,600. TISBO BANK CLOSED. Three Brothers Own Institution Proclaimed Bankrupt by Court. BARI, Italy, April 17.—The court here has proclaimed as bankrupt the Tisbo Bank of Bitonto, owned by Vincenzo, Francesco and Ricardo Tisbo. It also ordered the arrest of Ricardo Tisbo, who is accused of having absconded with the money de- Dosited {n the bank. The court has ordered Francesco Tisbo, who was arrested in Naples when he landed there from the United States, recently, to be transferred to the prison here to undergo trial. ‘The Tisbo brothers’ bank at Bitonto ‘was ordered sealed last month after a scrutiny had been made of docu- ments concerning investments made by the Tisbo brothers' bank in New York. It was sald at the time that the police had not been able to find cash deposits, alleged to aggregate 4,000,000 lire, sent from the United States as subscriptions for the erec- tlond of a monument to Italy's war dead. EARNS $14.88 A SHARE. NEW YORK, April 17.—The 192 report of the Cities Service Company shows net income of $1L847.113 equivalent to $14.88 a share, as Dared with $10,646,85 In 1921, equivaten+ to $13.04 a share. SUGAR HITS OLD HIGH. NEW YORK, April l’l—On. hun dred thousand bags of raw sugat was sold in the locll market tcday at 6 cents a pound, cost and freight, up % of a cent and duplicat- ing the previous high record for the year. ——e ‘With & membership of 400,000, the Needlework Guild of America is one of the largest organizations of wom en in America.