Evening Star Newspaper, April 22, 1923, Page 28

g 29 - NEW YORK STOCK EXCHANGE WEEK ENDED APRIL 21, 1923 KINANCIAL. |SUPPORT DEVELOPS IN STOCK MARKE \Saturday Losses Modified b Good Buying Orders at Lower Levels. THE SUNDAY | BOND SUMMARY FOR THE WEEK tenal Prev. igh. - Low 108% 100 102 98% 102% 804 99 101 10215 995 HN‘\ STAR, WASHINGTO, D. C, 'APRIL 1923—-PART 1. 1922—— Tow. 99 98 941y 98 7415 983, 96 FINANCIATD,” ui.. £ A BANKERS PREDIT |2 BLTY AHEAD = 104" 1083y 90 Mote of Financial Caution Favorable to Business Over Long Period. 108 100% EASY MONEY BIG HELP Last 1025 High. 102%, 102 Low. 1024 100% 95% 101 FOREI(; Argentine 7s 192 Belgium 7128 1945. Belgium 6s 1925 Belgium §s 1941. Bordeaux 68 1934. 3, Brazil 58 1941 99% Canada 5s 19: . 100 Canada 5%s 1929. . 97% Canada 5s 1952. 1021 Chile 8s 1946. 101 Chile S 1926. 102% Chile $s 1941 4614 Chinese Guvt Ry 5s 1831 8814 Copenhagen 5ixs 1944 75 Czechoslovakis i 107% Denmark 8s 19: 96 Denmark 6s 194 9211 Dutch East Indies s 10 9214 D Indies 6s | 198 | High. Low. 65% 52 233 141 677 144% 21% 70 617 9415 62 3% 40 Week ending April 21. 1883, High. Low. Close T2 69% 19 180 B 8 532 53 . 144% 1407 19% 18% 67 66% 92% 8712 95% 67 341 Week eading April §1, 1023, Net. High, Low. Close. Chbge. % 4% T4 - Y 1% 69% T1 14% 1815 13 44 T2 T 49 48 2T 26 56t 5l% 4T 45 4Bk 53 4B 49% 98l; 95% 96% 108Y% 109 180 180% - High. 83 66 18% Low. 48 High, 7474 2114 C 118 Lima Locomotive. . Loew's, Incorporated. Loft, Incorporated. . . Loose-Wiles Blscuit Louisville & Nashville MclIntyre Porcelain M. Mackay Cos pf. Mack Trucks. Mack Trucks 1st pf. Macy (RH) & Cnmpany Magma Copper.. Mallinson & Co Adams Express Air Reduction. ‘Ajax Rubber. : ‘Allied Chemical & Dye. Allis-Chalmers Mfg....... ‘Am Agriculture Chemical. Am Agriculture Chem pf.. American Beet Sugar. . American Bosch Magneto. American Can.. : American Can pf. American Car & Foundry 103% 100t 106 1032, 106 87 R 521 1 1007 2w RAILS IN SINKING SPELL Foreign Bond Movements Held to Reflect Brighter Out- look Abioad. BY GEORGE T. HLGHES. The Star K, Aoril tha view Dispatch NEW YO much to suppe in banking cire long period o is zhead. when the is considered from < bueiness is co ve feature is the note nd conservatism s st now and apparently There is] 99 dvanced [ 11 es this week that a | stabnity | 18 comparative 16 finuncial outlo range rned. the of cau- otten beinz | 105 = {106 im-| 98 11067 are making ] 1054 s very slowlv and caretully. ! gg even when rising costs fully warrant i joq vance. There is @ wholesome | salled buvers strike and | to sicw down rather | gl incur the danger eck- | 931 2 demand of consume: are, | 1012 f course, exceptions in certain trades | and certdin commodities. but the rule holds good. Money Rates Favorable. obtains in tes fluctuare Notwiths price 1097 @ ition 101 The same conditi money market a vely smal 15 tl the credit the extr arge par to rold holdings. he fact s the gold with and d bullion. gold stocks 1n Atat ~tablished a new nearly $4,000,000 1 situal the but anv the tide or s there such cha in imports increased over tha preced nall ch tion of t signs ot March 004 any L aro and the net excelle result is have been predicted for nd things European that happened, that now there disposition to believe they m r hapoen L orelzn Bonds Higher. tiors for foreign g which have been in many month of these securi ne individual { m traders or | come investers rather than f deal Tt is also reasonable to sup- ! pose i thelconcansus’ ot woral aninion. for some of this buy ome from abroad. represe irabla forecast of "better da cther cide just as the Slow af the stock market period of depression revival. 94ty It is noteworthy also that the for-| T ~ign bond market has moved inde-|108% nendently of the rates for certain ex- | 107 change, which are generally promptly | 92 affocted by clanging political con. | 88 ditions. but where both tiwe technical tive po: on and the > commercial situation the meaning of fluctuating tions. Investors who are now ac cumulating foreign securities se to be acting simply on their belief | that interest and principal are rea-| 53 sonably safe and that. considering{ 59 the high return, the risk is very =mall. T after a forecasts Umlu] Gary's Views Opposed. Returning to the sit At ome there is more raisi of wages, more talk of labor shortage and continued | discussion of the jmmigration prob- lem. Judge Gary's views that present law is a mistake do n« ta be generally shared by a position most to influence the Congress. For strange as it may appear the agricultural interests are agatnst let- ting down the The argument that allowing free entrance to_all forelgners who desire to come help | molve the farm labor problem does | not impress the farmer. His reply is rhat the type of immigrant who has been coming during the past decade did not scttle on the farms, but in tho great cities, and as far as bring- ing down wages is concerned. it must not be forgotten that the farmer is both laborer and employer. The labor unions are even more strongly opposed to any change in the present law, So that it looks as though manufacturers will have to| solve their own problem as far as the Jabor =upply i8 concerned unde: pre- vailing conditions. (Copyright, 1923 1 LIVE STOCK MARKET. BALTIMORE, Ald April 21 (Spe- cial).—The general cattle market rules steady and shows little change in values. For cattle of first quality there is ready sale, with no surplus of | this sort. but ample supply of com- mon to ordinary stock. which is slow : to find favor. Trade wants supplied | mostly at stock vards. there being very little cattle arriving on the wharves. Quotations today at Light street wharves Beef cattle—First quality, Ib. 8ad;] medium, 1b.. 6a7. Bulls, as'to quality, | 1b. 3ab. Cows, choice to fancy, 4a5; common to o quality, 1b. hoice to fanc common to fai "alves. veal. choic nary to medium, thin, 1b., Old buck. Lambs, air to good, . 9u10; spring. straight, b, i . i ] e | | in new . 30.00250.00. . 1b., all; ordi- 1b.." 9al0: Tough, Sheep. choice, . 4ab: common. hoice, Ib., 1%a common, thin, fall. 11a1 92 109 160 20 N6y 1001 95 91 84 96 107 904 b 101 106, Du Pont de rench Govt 8s ¥rench Govt Tlas 1941 712 Holland-American s Tai ¢ Netherlands 6x 1 N ¥ 88 1940 Paris-Lyons-Med 6x 1955 Queens Queensland Rio de Juneiro §s Sao Paulo, St Seine, Dept of. 10312 Sweden 65 19 Swiss Confed s f 85 1940 . United Kingdon AND WMISC Chemies \mer Smelt & Ref 1st Amer Sugar Refining Tel & Tel ¢! tr a) ref hem Steel p v Bethiehem Steel s f 65 19 Brooklvn s D 1940 4 Chile Copper 6% Chile Copper 7x QMd) 1st ug v deb Ss 1930 <o ref §s Nem T1p8 Det 300dy sody e Hunible Oil & a7 e r Crude : Porto Rico dard Oil of & Pap. ted Drug cv s 19 ber 1st & ref er & Ligh! va-Carolina Chem s 1 Wester Wilson & Co lst §s 1941 Wilson & Co cv Ths 1931 RAILROAD, Atchison gen 4s 1 ap T Northern 63 anadian Pacific deb 4s ral Pacific §s 194% hesapeake & Ohi 4 ‘hesapeake & Ohio &n 41as 1 ago & Alton 3s cago & Altc hi B & Quin hi M & St Paul cv hi M & St Pa ‘hi M & St P ‘hi & Northweste Chicago Railways Chi R 1 & Pacific re Chi Union Station 41 Chi & Western Ing & St Loref 6s A 1 land Term 5igs 1 “olorado Cuba R Delawar Den & Rio Grande o Den & Rio Grande 1st re. Detroit United $1.s 1932 e 1st con 4s 1996 rie gen lien 4s 199 rie cv 45 A 1953, Erie cv 4s D 1 Great Northern gen 75 1936 Great Northern gen 5128 1952 Hudson & Mauhattan rof 5s 19 Hudson & Manhattan adj os 19 1lsnois Inter Rapid Trans Inter Rapid Transit cv 7s 1932 Inter & Great Nor adj 8 195 Kan C Ft Scott & M 4s 1936 Kansas City Southern 3s 1950... Kansas City Southern 5s 1950. Lake Shore 45 1928. ‘alley 65 1925 Nash unifled 45 1940, .. c Nash 18t ref 53s 2003. . Market St Ry con 58 1924 k Mil Elec Ry & Lt 1st ref 5s M St P& S S M 6138 1951, Mo Kan & Tex 1st 4s 1990, Mo Kan & Tex pr In 55 A 1962 Mo Kan & Tex adj os 1967. 215 Missouri Pacific 63 1919 4 Missouri Pacific gen 4s 1 O Tex & Mex inc 58 19: v York Central deb 6s 1935. v York Cent deb 4s 1934.... ¢ York Cent ref imp bs 2013. N H & H cv deb 6s 1948 Haven deb 4s 1957 Y West & Boston 4125 1946. .. orfolk & Western con 45 1996. orfolk & Western cv 6s 1929 & orthern Pacific 35 194 : 4 Northern Pacific 4s 1997. . orthern Pacific ref imp 6s 2 Northern Pacific ref imp 5s 2 Ore Short Line gtd 5s 1946 Ore Short Line ref 4s 1929 Ore-Wash 1st ref 4s 1961. Pennsylvania gen 5s 1968. Pennsylvania gen 41%s 196 Pennsylvania 61:s 1936 Pere Marquette 1st 5s Reading gen 4s 1997 Rio Grande Western clt 4s 1949 R T Ark & L 45 1934. 2 StLIM&SR & G 4s 1033. ... St L & San Fran pr In 4s A 1950 St L & San Fran pr In 55 1950. . St I & San Fran Inc 6s 1960. St L & San Fran 6%s B 1942, t L & San Fran adj 6s 1956.... eaboard Air Line ref 4s 1959 . caboard Air Line adj 5s 1949. . eaboard Air Line con 6s 1945 outhern Pacific cv 4s 1929 Southern Pacific ref 4s 19, Southern Pacific col 45 1949. 1007, 1o 100, 9 1243 100 1517 119 93t 68 a4 1063 1101 1004 1812 105 80 70 4012 Am Chain class A w i American Chicle. Am Chicle pf. . ‘American Cotton OIl...... American Cotton Ofl pf. American Express. s American Hide & Leather. Am Hide & Leather pf. American Tee American International Am LaF Fire Engine. American Linseed . American Linseed pf American Locomotive. American Metal. - American Radiator. . . American Safety Razo; Am Ship & Commerce. .. .. American Smelting & Ref. American Steel Foundry. . American Sugar Refining. Am Sugar Refining pf. . Am Sumatra Tobaceo. . Am Tel & Cable. ... z Am Telephone & Teleg. . American Tobacco Am Tobacco Class B. Am Water Works & Elec - Am W W & Elec par pf A y ec 18t pf. American Woolen. American We Am Writing American Zinc Lead & § American Zinc L & S pf Anaconda Copper Ann Arbor pf. - Arnold Constable & Co. . Asso Dry Goods. Associated Oil. Atchison, Topeka & S Fe Atch, Topeka & S Fe pf. Atlantic Coast Line — Atlantic Gulf & W I Atlantic Gulg & W Ipf.. Atlantic Refining. .. Atlas Powder. . Austin Nichols. ... Auto Knit Hosiery Baldwin Locomotive Baltimore & Ohlo. Baltimore & Ohio pr Barnsdall, ¢ - Barnsdall. Class B. - Bayuk Bros . - Brown Sho. Beechnut P Bethlehem Hethlehem Steel pf new. .. Baooklyn Edison Electric. Brookivn Rapid Transit. . klyn Rap Tran cfs of dep Brooklyn Union Gas. . Burns Bros. ........ Hurns Bros Class B. . Butte Copper & Zin Butte & Superior addo Cent O & R Culifornia Packing California Petroleu California Petroleumn p{ Callahan Zine & Lead. Calumet & Arizona. Canadian Pacific Case Thr- sh Mac ather Co pf Central Railroad of N J Century Ribbon Mills Cerro de Pasco Cepper. Chandler Motor Chesapeake & Ohjo. .. .. Chesapeake & Obio pf. “hicago & East Illinois. hi & East Illinols pf. ... Chicago & Great Western. Chicago & Gt Western pf.. Chi, Milwaulkee & St Paul. Chi, Milwaukee & StP pf.. Chicago & Northwestern.. Chicago Pneumatic Tool Chicago. It T & Pacific. . Chi RT& Pacific 6%. . Chi R 1 & Pacific 7% cChile Copper. . 161y Chino Copper. Cluett-Peabody Coea-Cola. . " Colorado Fuel & Iron. ‘olumbla Gas & Electric. . lumbia Graphophone. ColumbiaGraphophone pf. Comput Tab Record. .. Consolidated Cigar. onsolidated Gias new Consolidated Textile Continental Can. Continental Motor: rn Products Ref Cosden Compan Crucible Steel Cuban-Anerican Cuban-American Cuba Cane Sugar Cuba Cane Sugar pf - Cuban-Dominican Sugar. @ sfowe | a alqu]‘wi s T 5 |woeg g :’:Ill"“lll"‘"i“lh [ L o 2 & Davison Chemdical . De Beers Mines. Delaware & Hudson Delaware, Lacka & West. - Detroit i Dome Mine: aee . Du Pont de Nemours. . Du Pont de Nem 6% deb. astman Kodak. ectric Storage Battery. Elk Horn Coal . Endicott- Jnhnson Erie Railroad. Erie Rallroad |ll nf Erie Railroad 2d pf. famous Players-Laskey . Famous Play-lLaskey pf Federal Min & Smelt pf. ¥idel-Phoenix Fire Insur. “ifth Avenue Bus. cee Fisher Body Ohio p! Fisk Rubber. Fleishmann Lompan)’ Freeport-Texas. ... General American Tlnk General Am Tank pf General Asphalt. . jeneral Asphalt pf General Cigar. . General Electric. General Electri General Motorsa. neral Motors pf. General Moto: Gimbell Brothers Goldwyn Pictures. . ... Goodrich (B F) Company. Goodrich (B F) Co pf.. Granby Consolidated. . . Great Northern pf Great Northern Or. * Greene Cananea Copper . Guantanamo Sugar. ... Gulf, Mobile & North pf. Guif States Steel Hartman Corporation Hayes Wheel. Hendee Manutacturing. Household Products Houston Oll Hudson Motor Car... Huppomobile Motor Car. Hydraulic Steel. ... 3 Hydraulic Steel pf. Illinois Central. . Tllinois Central pf. Indiahoma Refining. Indian Refining. ... Inspiration Copper Interboro Rapid Transit. Inter Agricultural pi International Cemen Internat Comb Engine. . Internationgl Har, pew Inter Merchdnt Mraine Int Merchant Marine pf International Niekel. International Paper Inter Paper pf stamped International Shoe. Intertype Corporatio; Invincible Ol Iron Products. 52 699, 58 23% 28% 8 83, 31'a 36 13% 18% — 23% 124 1 112% 102 88'a 118'¢ 89‘ 11% 17 89 8919 1784 1% 15% 1884 18744 : 104%2108% 103' 45 48 5% 6 36 36% 90 90% 291 29% - 8% T3% 31+ 381% 28 28% 10 10 56 55 951 96% 88y 88% 40 42 19 19 37% 874 59% 61% 281, 28% 26' 26% 2 3 10 15 112 3112 114% 116 18% 184% 6% 6% 37 38 181 19 80 30 40% 40% 27T'% 325'% 26% 91% 88 9% 9 37% 35% 14% 144 48% 44 691 67% 1% 15 85 17% 54% 114% 116 14 T4 3914 20 81 414 Manati Sugar. Manhattan Ele Manhattan Elevated. .. .. Manhattan Elevated gtd. Manhattan Shirt Market St Railway prpf.. Marland Oil & Refining. . . Martin-Parry. .. Mathieson Alkali Maxwell Motor, Class Maxwell Motor, Class B May Department Stores Mexican Seaboard. . Mexican Seaboard ctfs. Miami Copper. . Middle States Oil Miavale Steel Minneapolis & M, St Paul & S M, 8t Paul Mo Kun & Texas new Mo Kan & Texas pf new Missouri Pacific. : Missouri Pacific Montana Power. Montgomery Ward . Moon Moto AMother Lode Lunhllnn Mullins Body Nash Motors. . National Acme. National Biseuit . . National Biscuit pf ~ Nat Department Stores. at Dept Stores 1st pf t Enamel & Stamps. National Lead. . . . Nevada Con Copper... .- New Orleans, Tex & Mex .. New York Air Brake. . N Y Alr Brake class A New York Central. . . New York Dock - New York, N H & Hart.. Norfolk Southern. Norfolls & Western. North Amerfean...... North American pf. Northern Pacific NovaScotia S & C. Orpheum Circuit Owens Hottle Pacific O] Packard Motor Car. ... Pan-American Pet Tran Pan-Am P Trans Class B Panhandle Prod & Ref Parish & Bingham. . Penna Coal & Coke. Pennsylvania Railroad. Penn Seaboard Steel. People’s Gas . Chicag Pere Marquette. ... Pere Marquette pr pf. Pere Marquette pf.. . Philadelphia Compan, Philip Morris & Co. Phillips Petroleum. Pierce-ATrow . — Pierce-Arrow pf ... lllll‘“l“‘l“‘"ll\i"he’ @ S & -] Pierce-Arro Pierce Oil. Pierce Oil pf. Pittsburgh & W Virginia.. Porto Rican Amer Tob. Postum Cereal. Producers & Refiners. Public Service new. Public Service, N J. . Pullman Co. Punta Alegre Sugar. Pure Of! Railway Steel Sprin Rapid Transit w i Rapid Transit pf w i. Ray Consolidated (‘oppex Reading. 3 5 Readine. st pf. Reading 2d pf.. .. Remington Typew it Replogle Steel. ... Republic Iron & Steel | Republic It & Steel m Reynolds Spring.. .. rnolds Tobacco. B. 1D N rshs St Joseph L. o an Francisco an Fran pf outhwestern. Southwestern pf . nta Cecilia Sugar. . vage Arms. ... aboard Air Line. aboard Air Line pf. Sears-Roebuck . neca Copper. Shattuck Arizona. Shell Trad & Transp Shell Union Ofl.. mons Co.... ms Petroleum. Sinclair Con Oil. . Sinclair Con Oil pf. . Skelly Oi SN Rloss-Sheffield Stl & Tron. . Sloss-Sheffleld S & I pf. ... Southern Pacific....... uth Porto Rico Southern Raliway : Southern Railway pf... Spicer Manufacturing. Spicer Mfg pf. . Standard Oil of Standard Ofl of N Standard Oil of N J pf. Steel & Tube pf Sterling Product Stewart Warner Speed. Stromberg Carb. . Studebak Submarine Boat . Superior Oil.... Tennessee Cop & Chem . Texas Company..... Texas Gulf Sulphur. Texas & Pacific Texas & PacificC& O Third Avenue......... Tide Water Oil...... Timken Roller Bear. Tobacco Products. TobaccoProductsClass Al Transcontinental Oil. Transue & Williams Union Bag & Paper Unian Pacific, . . Union Pacific pf. . United Alloy Steel.. United Drug...... United Fruit. . United Railway Invest United Rwy Invest pt United Retall Stores. .. USCCIP & Foundry. .. United States Food Prod U S Hoffman Machine.. U 8 Industrial Alcohol. . United States R & Imp. . USR&Imppf United States Rubber. U S Rubber 18t pf..... USSmelt R &M United States Steel. United States Steel pf. Utah Copper. ... Utah Securities. . ‘Vanadium Corporation Van Raalte Virginia-Carolina Chem Va-CarChemicalpf..... V Vivaudou ‘Wabash. Wabash pf A Waldort System. Wells-Fargo. ‘West Penn. West Penn pf. Western Maryland. . ... Western Maryland 2d pf ‘Western Pacific. ‘Western Pacific pf. Western Union Teleg.. West'ghouse Elec & Mfg. Wheeling & Lake Erie Wheeling & Lake E pf White Eagle Oil ‘White Motors White Oil. Wilson & Co. prior pf. Si 41% 4413 40% 76 12 2415 16' 574 112 57% 8% 134, 46 46 6% 13% 25% 18% .. b8 . 114 5814 9 16 28 58 374 35'a | tack of 1 buy at th Spe tract ley's poir on the as to ' unfa timated at ield i 810.01 { “rn {1s about norn ! five-y fnow of th surplus Leor 1 i day’s stock dustri the e tirely car There were no outside influence a j vressure Mr, California 1 vised Cuban Crop Estimates. Assoted Pross W YORK. April he decl on prices at the openit nanket to 4 points al and railraad leaders ng support madc he lower lev d a moditied o forcing reces: number o but its apps arly losses were led elopn resumgion of s e ~ which was spi Sugars ulati ed 10 1 revised cd Doheney's jected clopm val announceme il tand pr PERTS CONSIDER Sugar Stocks Go Higher on Re f number FARMING OUTLOOK the: supp) » keep prices vorable it was adde ult in as to make ver <hould prov for the total crop would 60 bales. b rep: cks on farm: almost exactly the pre-war s s mu five ve r1 sa s be m by do umers £.000.000 hogs 0.000.0 HAGERST with bury year prior pects KR has build hamt hat A Virgini organized RIC ion of strawber been the pape i Comp ble its capacity UTICA. N. Y Rubber and ruptes j600 a Shoe el at cibericksburg £300.000 cupi Ira w of Cynwyd, 1., is presider HMOND, Va. April s in this sta anticipated. will excee wers report ny year: EOLA. Miss n award $1.50 and_machinery addition mill of the Southern I ) which will more than ing April 21 v Ac Tire Comp: of } filed a petition in b . with liabilities of £ on_h. he nd WILL BUY AN OLD-ESTABLISH ed real estate business., Must have rental business of at least $100,000, also insurance. I want action, not talk. Address Box 16.L. Star office. In insecured investments aggregate willions. ~—Our— First Mortgage Notes Bear & record of 100 per cent safe, ene of our clients lost as much a- siogle penny in either principal or iuteren We Have on Hand ‘limited amount in denominati of du a "The Yearly Losses N of $250 Up to $5,000 1b., 6a8. Sta, e DIigS, A8 1o 8 hoats, as to size and qua Rearing 7% Interest For Full Particulars Loan Department Chas. D. Saoel 924 14th St. N.W.. Main 36. 81y 6614 . 84% 323 2\6% 210 924 66 100 Jewel Tea.. Jones Bros Tea. .. Jones & Laugh pf. Kansas City Southern..... Kayser (Jullus) & Co Kelly Springfield Tire Kelsey Wheel. Kennecott Copper Keystone Tire & Rubber Kresge (S S) Company. 63% 3% LeBigh Valley, . onr 22 60% | 49% 107% 1,334 225 {223 404 | 86% 611 11 124“ u‘m« — 40! A 246 221% 241 .2 0% 66 65 _ Willys-Qveriand. Willys-Overland pf. Wisconsin Central. . ‘Woolworth (F W). Worthington Pump. ‘Wright Aeronautical Youngstown Sheet & 5 Southern Ry 1st 5s 1994. Southern Ry gen 4s 1956. .. .. Southern Ry dev 61s 1956. . 581 Third Ave adj os 1960. 88k Union Pacific 1st 4s 1947 941 Union Pacific cv 4s 1927 901 Virginian Ry 1st bs 1962 94% Wabash 1st 55 1939. 59% Western Maryland 4s 1952 7915 Western Pacific bs 1946. 8% 77 - West Shore 15t 43 23610, HH*%H“’*IIP Apily NEW YORK. April 21 -Cattle—Re- . 35 head. No trading. Calves— 0 head. No trading. —Receipts, 4,080 e TUnshorn sheep, 5.50a9.00: @ 3.0025.00: unshorn lambs. 12.00 416,007 culls, 9.00210,00; clipped igmbs, 4.00a12.50. : 199% 8 30% — 8% 1 70% 4 1 Selling ex-dividend. Dividend rates as given in the abeve table are the annual cash pay- ments based on the latest quarterly or half vearly declarations. - Unless _|otherwise noted, extra or special dividens are not included. { Partly extra. {ae il | il el | 267% b57% + 1%