Evening Star Newspaper, April 26, 1923, Page 28

FINANCIAL FURTHER DECLINE | [=~=+ ~oxx BONDS o sxcmanc] Grain. Produee and | yAY COMMON IN LIBERTY BONDS = et e e . DULL AND STEADY NEW ‘YORK STOCK EXCHANGE Received by Private Wirce Direct to The Star Office PECIAL STOCKS | LOCAL WHOLESALE MARKET. Increased receipts of strawberries from North Carolina has caused a 1 Open. High. Low. Close, Open. High. Low. Close. X Adv Rumley pf.. 47 47 47 |Maltson&Co... 86% 86% 36% 36% Alr Reduction ¥ “' 68% | Manat! Sugar.,. T e . 724 3 Sharp Price Advances Made in Market Today — To- bacco Products Jump. BY STUART P. WEST. Spe:ial Dispatch to The Star. NEW YORK, April 26.—Operations for the rise In specially selected is- sues, most of them belonging to the industrial and public service groups, absorbed attention in the stock mar- Let today. With all danger of adverse legis- lation removed for this session of the state legislature at least, the long ex- pected rise in Consolidated Gas got under way. Along with it went, nat- urally, the other lighting stocks of Greater New York, Brooklyn Union Gas and Brooklyn Edison. The con- tention is that these stocks have been selling too low on their investment sacrits, because of fear that control would be taken out of the hunds of the public service commission and given over to a hostile city government. ‘Tobacco Products Strong. A large block of Tobacco Products is sald to have been overhanging the market for some time at prices rang- ing betwcen 58 and 60, and this is why the stock has not responded more to estimates of earnings run- ning as high as $10 a sharc. Appar- ently this block was either bought up or withdrawn from sale today, with the immediate result that To- bacco Products shot up above 60 and became one of the leaders A further remarkable advance oc- curred in American Water Works common and the 6 per cent partici- pating preferred. The 7ise in this company’s important subsidlary’s stock (West Penn Company) of some 14 points In the last fortnight has drawn attention afresh to the Water Works situation. Corn Products bulls are still talk- ing about the effect of 10-cent sugar in diverting part of the demand to sugar substitutes. The best infor- mation is that the first quarter's earnings will show between $6 and $6 a share. Little Alarm in Market, There was very little change in the main aspects of the financial eitua- tion today. The stock market remained in much the same state in which it has been all week. Real holders were still re- fusing to be alarmed over statements emanating, for the most part, from other sources. Trade expansion was in danger of being serfously overdone. There was equal lack, however, of any desire on the part of the outside public to in- crease their speculative commitments or to buy more for Investment ac- count. This left the field entirely to the pools and professional operators who busied themselves bidding up & number of selected stocks while the major part of the list did little. The decline in sterling exchange continued and at the low of the day rates were off fully 9 cents in the pound from the season’s high two months ago. It is the same sort of re- action which occurred early last au- tumn when the BEritish government Was preparing to meet its obligations on the American war debt. Estab- lishment of a sufficient dollar credit fund for this purpose involves tem- porarily a greater demand than sup- ply with the natural result that the value of the dollar in terms of British pounds increases, International Cement. Strength in International Cement is taken as discounting the first quarter report due next Tuesday, which, it is said, will show over $400,000 available for dividends. This compares with less than $200,000 in the first quarter of 1922. The month of April thls year was cxceptionally satisfactory, and current operations indicate even higher earnings. Buying on Wednesday and t in Orpheum Circuit issues, carr: the common to a new high for 1923, wag done in expectation of a $2 divi- dend on the junior stock within a short time. Moreover, reports of the business of the company show that present income and plans for the re- mainder of the year will justify divi- dends. The preferred dividend is be- ing ecarned more than three times over, and the income on the common is understood to be at the rate of ap- proximately $1 a year. There were, in the final dealings today pretty plain indications that rceent scllers for the decline were becoming uneasy and were buying iu 2 good many contracts, especially in such leaders as Baldwin Locomotive, Studebaker and the steele. —— PRODUCE PRICES UP. Slight Advances Reported in New York Today. Bpecial Dispatch to The Star. NEW YORK, April nd_western fruits and vegetables were in rather moderate receipt, ex- cepting spinach and California’ ice- terg lettuce, which were again in liberal supply. The early morning demand wak quite active, particu- larly for offerings of fancy quality and stock in good condition. Prices showed a slight .—Southern advance, i Ajax Rubber. Allied Chem. Allfed Chem pf. . Allis Chalmers. . Am Agr Chem |Am Ag Chm pt. Am Beet Sugar.. Am Can. Am Can pt. Am Car & Fay Am Chain A. Am Chicle Co. Am Cotton Oft Am Cot Oil pf. Am Druggist. Am H & Leath. . AmH & Leapf.. Amce. ... Am Internat’l, Am La France Am Locomo. Amn Metals, Am Radfator. ... Am Roll Mill pt. Am Sate Razor. . Am Ship&Com Am Smelting. Am Smelt pf Am Sugar pf Am Sumatra Am Sumatra pf. Am Tel & Telg.. Am Tobacco. . .. Am Tobac (B) Am Tob pt (n) Am Water Wks. Am WWK6% pt. Am Wholesl pt.. Am Woolen. Am Writ Pr p! Am Zinc&Lead.. Am Zinc&Ld pt. Anaconda. Arnold Co. Asso D Goods. Atchison. . Atchison pf..... Atlan Bir&At) Atlan Cst Line Atl Fruit ctf: Atlantic Fruit Atlantic Ref.... Austin Nichols.. 29% Auto Knitter 2T%H Auto Salespf... 12% Raldwin Loco. .. 138% Ralto & Ohio 52 *Bank of Com... 295 Barnet Leath. Batopilas Min... Reechnut Pack Reth Steel. . Bklyn Edison. Rklyn Rap Trn. Rklvn R T ctfs Bklyn RT 1st pd Bklyn Un Gas. Brown Shoe. Burns Bros (B). Burns Bros pf... Butte Copper. Butte & Super.. Caddo O11 Calif Pac! Calif Petrol. Calif Petrol pf Callahan Zinc. Canad'n Pac Central Leath. .. Cent Leath pf. .. Century RibMills Cerro de Pasco. . Chandler Mot. Chesap & Ohlo. Chi & Alton. Chi Ml & St P. Chi Mil&StP p?. Chi & Northwa.. ChiRI& Pac. Chi R1&P6% Chino Copper. Cluett Peabod Coca-Cola. Colo Fuel. . Columbia Gas. . . ColumbiaGas wi Columb’a Grap.. Com SolvA..... Zomp Tabulat Conley T Foll Cons Clgar Con Gae ne Cons Textlle Cont Can. . Cont Can pf. Continental Mo. Corn Products. . 1 Cosden & Co. ... Crucible Steel. .. Crucible Stl pf Cuban-Am Sug. Cub Cane Sug... Cuba Cane S p?.. Cuyamel Fruit.. Davidson Chem. ! De Beers. . D Lack & Wstn. | Dome Mines. . Dupont (E 1) Dupont deb. LCastman Kod... Elec Stor Bat. Endicott-John. Erfe. . Famous Play. . Fif Av Bus wi. Fisher Body. . Fisher Body rts. Fisk Rubber. . Flelshman. . Foundation Co Freeport Texas. . Gardner Motor.. Gen Am Tk Car. Gen Am Tk pf. Gen Asphalt. Gen Cigar. Gen Electric. Gen Elec spl wi. Man El Inv guar. Market St Ry. Market St R 24 Market St prior. Marland Oil. Martin-Purry... Mathlson Alkili. Maxwell (A) Midvale Steel. .. Minn & StL (n). IMOK & T (new). MK&T pf clA (n) Mo, K & T:(old). Mo Pacific. Mo Pacific pt. Montana Pow Montg'y W'rd. Moon Motors. Mother Lode Nash Motors Nevada Copper. N Or Tex&Mex.. N Y Afr Brake NYNH&Harttd. NY O&Western. Norf & West.... North Amer. North Am pf North Pacific. Nov Scot Steel. . % | Ohio Fuel Sup.. Oklahom Prod Onyx Hosier: Orpheum Cir. Orpheum Cir pf. Otis Elevator. .. Otis Steel....... Owens Bottle. Paclfic Coast . 10 Pacific G & El... K Pacific Mail. 10 Pactfic Oll. A " 40% Packard Motor. Pan-Am Pete. .. Pan-Am P (B).. Parrish & Bing. Penn Seabd Stl. Pennsylvanl, Penn Coal & C'ke People’s Gas. ... Pere Mrq prpf. . s T8 Philadeinhia Co 7 Philadel Co pf.. & 43 Phillips Pete. ... ~ Plerce-Arrow Plerce O1l. .. Pierce Ol pf PittsCoal... . Pitts & W Va. Pltts&W Va pf.. Postum Cereal. . Pressed Stl Ca! Produc & Ref... Pub Service. .. Pullman C Punta Alegr © Pure Ofl. . . 26% 263 Ry Stl Sprpf. ‘ 117% Rap Tr Sec w.i.. 174 RapTr Sec pf wi 464 Ray Con Cop 1654 Reading. Reading 1st pt.. Rels Robert Remington..... Replogle Steel.. Rep Ir & Steel. . ReplIr&Stipt.. Reynolds Spr... Rey Tobac (B).. Rey Tob pf B. Royal Dutch. &t Joseph Lead. St L&San Sran.. St L&San Srp?.. St L South pf. Savage Arm 4 | Schulte Stores Seaboard AirL.. ™ | Sears Roebuck . Seneca Copper Shattuck-Ariz Shell Union. Simmons. Simms Petrol. SinclairOil..... Sinclair pt Skelly OI1. : Sloss-Sheffield. . South Pacific. So Porto Sugar.. Southern Rwy Spicer Mg C St Oil of Callf. Stand Oll of NJ.. Sterling Prod. .. Steel&Tube pf. . Stew't-Warner.. Studebaker. Studebaker p? Submar’e Boat. . Superior Steel Tenn Copper Tex Company . Tex Gf Sulphur. Tex & Pacific. Tex & P COll. Timken Bear. ‘Tobacco Prod. ‘Tobac Prod A. Tobacco Pro pf. Trans Cont Oil.. Transue&Will.. *|into Osage oil territory. Other Government Issues Also Go Lower in Today’s Trading. BY GEORGE T. HUGHES. Special Disp-tch to The Star. NEW YORK, April 26 —The feature of the bond market today Was the further decline in libertys, all the old 4%s, as well as the Treasury 4%s and the tax-exempt 3%s, welling at substantlally lower figures. The s nificant fact is that the decline has been progressing for several days now. Whether the movement forecasts nigh rates on the new offerings of the government mnext mdnth or whether it is simply liquidation on the part of business men who need funds for legitimate commerclal pur- poses cannot be stated, The fact that other high-grade securities— boeth rails and industrials—were dull ond heavy would seem to support the latter theory. Heaviness {n Otacr Bonds. This heaviness in the rails and in- dustrials was not so evident in quota: tions on the tape as in the offerings over the counter, where sellers or would-be sellers outnumbered the buyers. There were a few exceptions to the general trend, notably in the case of the Reading general 4s which had & rise of over 2 points, a remarkable movement in a bond of so high a grade. In fact, today's price was within a fraction of the high of the vear. UNITED STATES BONDS. present thirty - seconds. ple: 101-1 means 1011-32) Sales. Righ. Low. 32 101-11 1018 101-11 96-81 97 (Fractions re, Exam Lib 3%4s. Lib 1at 41 Lib 2d 43w Lib3d 414s Lib 4th 4% Victory 4¥s. 266 US4%81952. 134 Argentine Belgium 7 Beleium 6 Belgium Bern 8 Rolivia 8 Bordeaux Brazil 7s Brazil8s. ... Brazil 7%s Canada s 1926, Canada 5% 192 Canada s 1931, Canada s 1952. Chile s 1946 Chile .51926. Chile 85 1941 Chinese Gov Ry &s Christiania 85 Copenhagen 5% Cuba 6% Dutch Bast I 68 2 Dutch East I 6862 Framerican T%s. . French Govt 8s. T'rench Govt T%a. 94 Hait! 6sctfs. . Holland-Amer ¢ Japanese 1st 4148, Japanese 2d 4%s Japanese {; The foreign list was again strong |, today, with new highs In all three French cities issues, the Bordesux, Lyons and Marseilies 6s. Paris- Lyons-Mediterranean 6s also made a new high for the year, while the Christiala 8s, which declined sharply Wednesday probably on the reports jof banking troubles In Norway. re- covered all the loss today. City of 8% | Greater Prague 7':s made a new high for the year and the Czechoslovakla equaled the high. Reuch New High Mark. ments 6s Buaranteed by the Japanese govern- ment made a new high since the of- % | fering. Mexican 5s made & new high in response to more favorable news 42% | from Mexico as to the progress in £9Y | debt refunding. — Pere Marquette. 403 40% | The recent advance in Goodyear preferred stock attracted some atten- been speculative favorites. Both is- sues sold fractionally higher today, debentures of 1931 due at 110, INCREASES ON COKE HALTED BY I. C. C. Eric Allowed New Financing Rights—Railroad Asks Exten- sion Permit. Increases on coke from the Cleve- {land ovens to points in New York jstate which the Wheeling and Lake Erie railroad proposed to put into cf- fect May 1 were suspended today by the Interstate Commerce Commission until August 29, to allow investiga- tion. Present rates on coke to all of the northern New York territory from iCleveland are $2.39 per ton, the com- < mission order said, while' the sus- iipended Wheeling and Lake Erle { schedules proposed to make new rates to Niogara Falls, at $2.76 per ton. to Lockport. $3.40, and to North Tona- wanda, $3.19. An Interstate Commerce Comm!s- slon order today authorized the Erie railroad to assume obligation and liability for payment of interest and principal of an issue of $900.000 in equipment trust certficates. The securities will be sold at not less than 96.94 per cent of par, in order to_raise funds for new rolling stock. 4| The Osage Rallway Company ap- [plied to the Interstate Commerce | Commission today for authority to | build & new line from Shidley. Okla., The line { will be from &ix to twelve miles in length, depending on development in the oil fields. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY | DETROIT, Mich, April 26.—Manu- |tacturers of automobiles here are be- {coming more of a unit today in de- claring that further increases in labor and material costs cannot be sustain- ed without corresponding increases in the price of cars BOSTON, April 26.—Sales of automo- biles at retall in New England are tion to tne bonds which have long | the 8s of 1941 due at 120 and the | Mexico Gs large Mexico 4s. Montevideo i Netherlands 6s. Norway 8s Norway 68 Paris-Ly’s-Med 6 Prague 7¥%s.. Queensland 7s Queensland 6s. ... Rio de Jan 88 1946. Rio de Jan s 1947. Rio Gr Do Sul 8s Sweden 68 Swiss Confed 8s Ud Kingm 51 '29. U'd Kingm 55 37 | Ud Steam Copen 6s 6 MISCELLANEOUS. Ajax Rubber 8s. Am Agr Chem 7%s 6 102% 102% 8 Am Cotton OIl 5s... Am SmIt&R 1st 3s. Am Sugar Ref 6s.. AmT& Tcvés... AmT& Tl tr 5 AmT& Tcltré Anaconda cv db Anaconda 1st 68 Armour & Co 41%s. Atlantic Refin 6 Bell Tel Pa 58 ret: Beth Steel rf 5s. .. Beth Steel pm 5a.. Beth Steel s f 6s Brier HSt 18t 5 Bklvn Edison 7s D Bush T Bldg 55 '60. Central Leather 58 Chile Copper 6s. Chile Copper 7s. ... CinG & E5%s'62. Con Coal Md 1st bs Cuba Canecv d 8s Dery (DG) 7 Du Pontde N 7 Duquesne Lt 7t:s. Dugquesne Lizht 65 F. Cuba Sug 7 . Empire F&G Fisk Rubber 8s. .. Gen Refractes 6s. . Goodrich 6%s Goodyear 8s 1951, { Goodyear 8s 1941. Humble O&R 513, Indiana Steel 5a Ing Mer Marine 68 Int Paper 1st fs A. Int Paper 15t 58 B. Kelly-Spring Liggatt & Myer: Liggett&Myers os. Lorillard (P) 5s. .. Lorillard (P) 7a... Magma Copcv 7s. . Manati Sug st Ti2s Marland O 7145 v, Marland Oil §s w. Midvale Steel 5s. Morris&Co 1st 4123 Nat Tube Ist 5s. .. N Am Edison 6s States Pow 55 Northwst B Tel is. Otis Steel T14s8.... Otis Steel 8s...... Pacific Gas & El 65 PacT&TH68'62... PhilaCorefésA.. Plerce-Arrow 8s.. Producers & Rf 8s. - PBRROL DL AR A= D IVND -y ety o e Close.. 100-2 98-30 98-22 98-24 REIGN. o A o8 High, Low. Close. 102% 101% 96% 101% | C; 112% 80% R3 8214 Bales, High, Low. - 23 86% 86 - - Samm=Sm BkI RT 7a 21 ct st Buff R&Pitt 4340, . Canadian North 7 Canad North 6% e. CETY=1=1 ‘anad Pac deb 4s. Car Clinch & O ts. Central Pacific 4s. Ches & Ohio cv s, C’Ie-&()cvl%l.. Ches & O gn 4% Chi & Alton 33 Chi B&Q gn 48 '58. Chi B&Q 1st rt bs, Chi & E 1l en bs., gh) Great West 4n » Qremotmm © Chi M&ES Pevalss, Chi V&St P 4324 g::'g,"sl..... . 1& Pacre 4 Chl & W Ind cn ll. CCC&StLrt6s A Cleve Term 5148 Colo & Sou 4148, Cuba R R 5s Del & Hd 15t rt 48 Del & Hudron 55 Den&Rlo G con 4s. Erfe 1st con 48 Firie gen 4s. Frle conv 4D, " Gr Trunk s ab ¢s. Grand Trunk 7 Gr North gen 7n Gr North een 53is Havana ERL&P 55 Hud & Man ref gs. Hud & Man aj os. . 111 Central ref 4, Tl Central 514 Int Rap Tran bs. Int R Transit 7a Int & G Nor af 6s. . Towa Central rf §s i\.un City Ft Sds. . Kansas City § 7s. . Kansas City § 5a. . Kan City Term 4a. Lake Shore 4528, Lake Shore 4s ‘31, Lehlgh Valley 6s.. Louls & Nash 7s Lou!s & Nash 5% 5. Manhat Ry en 4s.. Markat St cn 5 o= PRRNROREEa= ~aaa~SDanoL 09 - 9 B NN can CACOSNOHRANID MStP & 8SM 615, )‘K&T]R(‘!.. . MK&Tprings A MK&TdsB. MK&T6sC MK & T ady 58 Mo Pacific 8 Mo Pacific 6s '65 Mo Pacific gn 4s. Montrl Tm 1st 5 New Or Term 4 N Y Cent deb 68 NY Cent deb 4 NYCentriss, ... New Haven ¢ dés. NY State Ry 4155, Norfolk & W en 4s Northern Pac 38 Northern Pac 4s Northn Pacr | 6s.. Northrn P 5s ret. Ore & Calif 1st 5a. Ore-Wash 1at re 43 Pe; 'yl gen 58. Pennsyl gen 4% Pennsyl 6148 Pennsyl gold Pennsyl con 4 Peorta & E Inc 4 Pere Marq 1st 5s.. 26 Rapld Tran 6s wi..212 57 910 ae EEFPNRTS 15 (] ~ECRANRGDAB O =0 Reading gen 4 RioG West el 4s.. 11 StLIM&S R&G s 20 StL&SFpl4sA. 25 SFprinss. 6 incen.. 46 5%sD.. 7 28 9 seeene LI >ppdunnn - B g @ 3% H 344 dad Sou Pacific ev 4s. . Sou Pacific ret 4 Southern Ry 1st uthern Ry gn 4, Southern Ry 61gs. Third Ave adj 5s. . Union Pac Ist 45. .. Union Pac 1st re 4s Union Paccv 4s... Virginia Ry 1st 53, Wabash 1st 55 94% 95% %5 Western Pacific 5. Whel &LE rf 4558, Wisconsin Cent 4s. TOTAL SALES (Par val 1lam.. 2751000 12noon 0.6)1;000 lpm.. 5727000 Zp.m.. 7449000 —_—— SHORT TERM BECURITIES, (Quotations furnlsbed by Redmond & Co.) S id. Alumioum Co. of Amer. 7s 1925 10: Auminum Co: of Amer. 70 1408 J0f American’ Cotton Ol 6 1024 €0 194 n 13 5110t 4 €0 €100.01€3 4 1 0 © 300 decrease in prices In the local mar- kets. Dealers say recelpts were not large enough to glut the market. Iceberg lettuce, in great demand, is not so plentiful, and receipts of the ilettuce from California are gradual- 1y falling off. It is thought ship- jments will cease in another week or ten days. Kale, spinach, spring onlons and rhubarb are belng recelved from nearby growers. Supplies are plenti- ful, and reasonable prices are re- ported. Eggs—Strictly fresh, selected, can- dled, per dozen, 28; average receipte, .7Lllou(hern, 2 ve poultry-——~Roosters, per Ib. 17: turkeys, 1b., 25a35; epring chickens, per 1b., 60; winter chickens, per Ib, 40a50; kea's, young, each, 65 fowls. ‘per 1b., 25a26. Dressed poultry — Fresh-killed spring chickeas, per 1b., 70a | ter chickens, per 1b., 45a50; hen: 1b., 30; roosters, per I 24 keys, ‘per 1b., 45a50; each, 70a80. Live stock—Calves, choice, per Ib., 10a1l: medium, per 1b. 9a9%: thin, 6a7. Lambs, spring, per lb. . Live pigs., 3.00a5.00 each; live hogs, per Tb.. $%. Green fruits—Apples, per bbl., 300a 7.80. California oranges, per crate, 4.5025.50; Florida, 5.5086.50. Lemons. Der box. 4.00a4.50. Grapefruit. 3.50a 4.50. Strawberrles, per qt., 26a35. Vegetables—Potatoes, per bl 1. 2.00a3.00: per sack, 3.00a3. potatoes, Florida, per bbl i 13.00; eweet potatoes, North Caro- lina, 3.00a3.50; nearby, 1.00a3.50. Let tuce, per crate, southern, 50a2.00 Romaine lettuce, per crate, 1.50a2.00: Iceberg lettuce,” per crate, 4.50a5.00. Cabbage, southern, 2.00a2.50 per basket. Eggplants, per crate. 2.00a350. Tom: toes, per box, Florida, 2.00a4.50. Beans. 2.0023.00 per basket. Peu: 3.00a6.00 per basket. Peppers, per crate, Flor- ida. 1.50a4.00 Kale, per barrel, 50a 1,00. Spinach, per barrel, 1.50a2.00 Celery, per crate, Florida. %.75a3.25. Squash. 2.50a4.00. ' Florida lima_beans, 4.00a5.00 per basket. South Carolina asparagus, 2.0026.00. GRAIN AND PROVISION:! BALTIMORE, Md.. April 26 (Spe- cial). —Potatoes. white, 100 1bs., 1.5a b., 19a! keats, 2.25a3. a13.00: bushel, 1.5 1.50a2.50; bushel, bbl, 1.50a2.00; bushel, gus, doz., 3.00a6.00; beans. bushel, 1.00 a2.50; beets, hundred, 5.00a8.00; cab- bage, hamper. 2.00a2.50; carrots. hun- dred, 5.00a8.00; celery, crate, 1.50a2.50; cucumbers. crate, 3.00a4.50; eggplants, crate, 2.50a4.00; horseradish, bushel, . | 2.50a3.00; kale, bushel, 40a45; lettuce, S basket, 1.00a2.50; onions, 100 1bs., 200 a4.50; spring onlons, hundred, 1.25z 1.50; peas, bushel, 2.50a4.00: peppers, crate, 2.50a4.00; radish, basket, 1.00a {1.50; * rhubarb. hundred, 6.00a8.00; &pinach. bushel, 50a75; squash, crate, 2.50a3.50; Tomatoes. crate, 1.50a4.50. box, 4.00 Selling Prices at 12:30, Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 1.43; No. 3 red winter, spot, no quo- No. 2 red winter, garlicky, % No. 2 red winter, garlicky, spot, no quotations; April, 1.41%. Sales—None. Corn—Cob corn, new, 4.75 per bar- rel; contract, sp 9234 per bushel; No. 2 corn, spot, 95 No. tations; track corn, vellow, No. 3 or better, 94 and 95 per bushel. Oats—White, No. 2, 55% and 36 per No. 3, 534% and 55 per bushel. Nearby, §0a90 per bushel; No. tern export, spot, 94% per No. 3, no guotations. Hay—Iieceipts, 97 tons; ample re- celpts for all trade wants from 17.00 to 21.00 per ton. The market is dull for lower grades and inferior ha, which is of uncertain value. Straw—No. 1, tangled rye, 15.00a 16.00; No. 1 wheat, 12.50a13.00; No. 1 cat, nominal. 14.00a15.00. CHICAGO, April lose. 3 115 1140 1142 060 9.60 8.92 9.1 CHICAGO LIVE §TOCK MARKET. CHICAGO, April 26 (United States Department of Agriculture Ho i Recelpts, 31.000 head: slow. steady to 110 lower; bulk, 160 to 225-pound aver- {ages, 7.85a8.00: top, 8.00; 240 to 325- pound butchers. 1.60a7.80; packing sows, mostly 6.2526.40; pigs. uno\':p: % | desirable. 100 to 130 pounds. 6.25a hogs, 7.40a7.85; light, 7.75a8.00; light light, ; packing sows, smooth, 6.40as. packing sows, rough, 6.0026.50: killing pigs. 6.25a 25, 7.25. Cattle—Recelipts, 13,000 head; beef steers and yearlings uneven, about steady; spot lower on in-between grades and plain yearlings; top, 10.40; weight, 1,312 pounds: best yearlings. 7.00; heay eight medium, a8.0f 9.75; several loads heavy steers, 9.75 ¢ a10.00; bulls weak to 15 lower; other classes generally steady; stockers and feeders somewhat more active for week; bulk desirable bologna bulls, 5.10a5.2 bulk vealers, 8.50 down- Quarterly Dividend Declared. A. B. A. Council Votes Against Moving Here. BY L A. FLEMING. As expected, directors of the Wash. ington Rallway and Electric Com- pany declared a dividend of 1% pe cent for the three months ending Witk May, payable June 1, to record share- holders of May 19. It is understood that there was no hesitation on the part of any of the directors in making the declaration nor does the action taken pledge the directors to another declaration thrce months hence, although there wou Pprobably have been no declaration this time unless the directory had feit that they could maintain the rate fc some time to come. Stockholders of record May receive $81,250, being the 1% b dividend. Dividend records of the company ot the common shares since incorpo tion were recently given in this col umn, showing that the last declara tion 'had been made in March, 1919 As a market influence the declu tion will probably have no 1 fect than to prevent som that ls, to stiffen the views of ers, and, maybe, bring som gain in price. Today's session of the local ex- change demonstrated this view, bid price remained unchanged at 65y and the asking price was inflated points to 70, but after the call thre sales of ten shares each were mad at 68%, practically without chans from last week's closing price, if any- thing, slightly off The three ten-share lots were that sold, while the preferred s were nominal a 1tel better than the common div nd n € the preferred look a little surcr .| was bld and 6 with sales at 75 Other Business on 'Change. Other sales today included a fo off shares of Capital Traction at 99, and 99%; a number of ten-share lots of Continental Trust Company at 96 and Chesapeake and Potomac Tele- phone 55 at 97. As an Investment. Purchasers of the 27,300 of Rails common stock, “interests in the American Compan nave demon strated the wisdom of their purchasc At 61, the reputed purchase pric they have an 8.2 per cent Investmen: after six months of no returns. as for a large profit, that is q tionable. Any attempt to turn large part of that stock Washington holders would quic result in a quick decline in market. As ar investment to Washingtonta the stock at 70 is better than a per cent Investment—that is. it [ fraction above 7 per cent and is {r. from the intangible stock tax of thc District of % of 1 per cent. | The refusal of the Supreme Court to lreview the decision of the Appel iCourt in the impounded fund case, w: decidedly more potent in _giviny strength to the shares of Rallway common than the dividend declaration. Vote Is Against Washington. The executive counctl of the Am can Bankers' Association this mor discussed the question of removir the headquarters of the assoclatl from New York to Washington, D. C. Washington's advocates at the coun- cil meeting worked diligently on behalf of their city, but when the vote was counted, New York was declared the winner by a vote of 61 to 28. Washington delegates hope to have jthe question reopened at the conven- ftion of the A. B. .. this fall at Atlantic City. Director Elected. Maj. Henry Leonard, pro business and social Washing elected to the board of th Metropolitan Bank yesterda inoon. Ald Germany and Austria. British banker, F. C. Goodcnough, chairman of Barclay's Bank, London, | belfeves that Great Britain and Ges many as the two great creditor na- tions of the world, can by operating ,(nxethcr on commercial line !the matter of rehabilitating Aus and Germany a lo t nent in bonds could { principle of the indorsed bond were public in Great Britain and America, fact, throughout the world. r-gard a bond given by Germany, specifl secured by German assets and bearing also the indorsement of ghe reciplent nation, which had received it on account of { raparations, would prove a satisfac- itory security when once a reasonably satisfactory settlement is in sight. “The placing of these bonds should enable Austria to recover from the | desperate position into which she fell and again to become the finuncial cen-| ter of that part of the world. Should this result, great benefit would accrue| to those interested in foreign trade.” {WHEAT PRICES HIT NWBR0E LB NARNBEORE A NN~ ORR B R OR DI QOO Union Bag & P.. Public Service i Union Pacific. ward; strictly choice kind to small especlally for fancy asparagus, let- | Gen Motors. .... tuce, cablage, cucumbers, caulifiower | Gen Motors pf. . and ‘green peas. b. 'The new potato market held steady, | Gen Mot o deb, owing to the more active demand and | Gempe; Bros. aather light recelpts. Old crop po- [ Gimbel BIOC: tatoes continued cxveedingly dull and | Gimbel BIOS weak, with demand cxtremely light. | Goldwin Corp- breaking all records today. Distrib-| punta Alegre utors of several of the popular|Sacks&Cosf medium-priced makes are unable to|Sinclair Ofl 7 secure cars enough to meet their de-|Sin Crude Oil 55, Meerenr . e ®"| Sin Pipe Line 5s. — South Bell Tel 6s. NEW ORLEANS, April 26.—Local re- | So Por Rico Sug 78 finers have shoved the price of re-|st Oil of Calif 7s.. beef heifers, 6.75a7.50. ik TOP FOR SEASON Sheep—Receipts, 12,000 head; early alen Inmhs fll e e st | Total Exports Sales in Grein Pif top wooled lambs, Jpec 2i5.00: one Today Set at 1,000,000 — Fh=--4 I and shippers: bulk, RAISIN GROWERS AT WAR. Only 60 Per Cent New Contracts Governing Marketing. Special Dispatch to The Btar. its now stock fssue of $2,500,000 over subscribed through eleventh-hour ald furnished by San Francisco and Los Angeles business men, the newly re- organized Sun Maid Raisin Growers' Association now {s encountering seri- ous difficulties in signing up growers in the Fresno valley district. Only 60 per cent of the growers have signed comprehensive market- ing contracts so far. whereus 85 per cent is declared necessary for the success of the assoclation. Bitter feeling exists in some of the ralsin growing districts over the re- tusal of some of the growers to sign contracta. —_— RAIL EARNINGS SPURT. New York Central Increase Is $7,700,000 in March. NEW YORK, April 26.—Operating Tevenues of the New York Central ‘totaled $36,898,954 in March, an in- crease of 37,700,000 over the corres- ponding month of last year, according o its report filed with the Interstate Commerce Commission today. The net operating Income, after taxes and other deductions, was $6,695,535, an increase of $1,845.373. The net operating Income for the first quarter of 1923 was $14,334,233, an increase of $2,213,303 over the first quarter of 1922. —_— HOUSTON, Tex., April 26—The spring crop of strawberries, damaged carlier in the year, now is coming north in carload lots. At least 100 cars will be shipped at once to in- serior points, - i SAN FRANCISCO, April 26,-Wxth‘ | | | Goody prpf wi.. Goodyear pf.. Granby Consol Gray & Davis. Gulf Bt Steel.... Hayes Wheel. .. Houston Ofl. ... Hupp Motors. Illinols Central. 113% Indian Refinin, 6 Inland Steol wi. 4 Inland Stl pf w 1. 104% Inspiration. . 38 Interb Rap Tr... In Ag Chemical. Int Cement. . In Combust E. Int Hurvester. .. Int Mer Marine.. 1ot M Marine pf. Int Nickel... Int Nickel pf. Intl Paper. . Intl Paper (sta). Int Tel & T Invincible Otl. Iron Products... 1sland Oll. Jewel Tea.... Jewel Teapf.... Jones Tea. Laclede Gas. LE & Wnctfs. Lee T & Rubber. 30 Lig & Myers pf.. 113% Lima Locomo. 0% Loews Inc. 1814 Lorillard pf. Louls & Nash. 86% 66% Magma Copper.. 83% 383% :?1: 5974 Smelt&Ref.. U S Steel pf. U S Tobacco. Utah Copper. Utah Securitie: Vanadium Cop.. Va-C Chem pf... Wabash. ... Wabash pf (A).. Wells-Fr EXp. .. West Penn C Western Md West Puliync‘ou . ‘Western Union. Westhse EI&M.. Wheel & LE Df.. White Eag Ol willys-Overld 7% Will'e-Overl pf.. 67 Woolworth. 222 Worthington. Wright Aero.... 10% 104 *0dd lot. High. CallMoney..... 6 41 HOURLY SALES OF STOCKS. 220100 12 RAW SUGAR PRICE GOES STILL HIGHER By the Associated Press. NEW YORK, April 26.—Raw sugar ascended to another high record to- da; % cents, cost and freight, equal to 8.54, duty paid, on a sale of 10,000 bags of Cuban to a New Orleans re- finer, 2k B e ; < 102 1624 | reason. 34 fined sugar up to $9.85 a hundred pounds wholesale, making the third ladvance in two weeks. Refiners are selling only a limited amount. even at this figure, because of the expecta- tion of further advance. while the trade is eager to buy for thée same . PAUL. Minn, April 26.—The California Central creameries will open a branch factory here about May 15 for the production of milk by- products and print butter. The ca- pacity of the plant will permit a busi- ness of $5,000,000 yearly. PHILADELPHIA, Pa., April 26.— The Baldwin Locomotive Company is operating today at 92 per cent o capacity, compared with 75 per cent at the beginning of the year. Unfilled orders amount to $70,000,000, a re- duction of $3,000,000 from the peak of the year. SHREVEPORT, La., April 26— Thirty-elght new producing wells, with an output of 17,000 bartels, were Steel & Tube 7s. .. Tenn Elec Pow-6s. Tide Wat Oil 6%8. Toledo Edn 1st 7s. Union Bag & P 6s. US Rub 1strf5s.. ‘Warner Sugar 7s.. West Union 6%8.. Wickwire Spen 7s. ‘Wilson & Co 1st 6s Wilson&C cv Tis. ‘Wilson & Co cv 6s. Winchester A T%s —_— DIVIDENDS. Company. Period. Amn. Tob. cm. ‘B'. Q brought in in this fleld in the last |Cen; Ariz, L week. SANs ANGELO, Tex, April 26.— Henry D. (“Kld” contracts for 125,000 pounds of long two-month fleeces in this section on behalf of Charles J. Webb & Sons’ Company of Philadelphia. The low- est priced lots he bought commanded 48% cents a pound. —_— BIG STOCK INCREASE. NEW YORK, April 26.—It was an- nounced’ yesterday by the stock ex- change that the Goldwyn Pictures Cor- poration will increass its authorized capital stock from 1,000,000 to 1,500,000 shares, which will be followed by a ré- duction of the authorized number to 375,000 by the exchange of one new share for every four now held. After a_revision of the capital there will be 186,806 shares outstanding and 193,193 shares in the treasury. Voting rights will be vested in common stock, to be called “new serfes.” A large number of holders of voting trust certificates have approved. the plan, which be- comes effective.at. the cloae of -busi-. ness April 30. ) Allen has secured ! pt.. omotive. . Len Coul & Nav.: 2 Standard Stand Un. Eng. & Fd Un. Eog. & Fds —RavBanHNLS atalat At A atat .t »4 PEERE 2 3 R 3 % e E KELE 10 ‘WELLS FARGO DIVIDEND. NEW YORK, April 26.—Directors of the Wells Fargo Express Company today declared a semi-annual divi- dend of $1.25 and. voted to continue nually. dividends at the rate of “§2.50 an- 1831, Goodyear T.'& R. 84 198i. 2 orthern 7s 1936 n 2 s 1880. 8t. Paul Union Depot Sears.. Roebuck & Co, andard Oil of Calif. Tidewater Ofl 618 198] 630, Western Union Westinghouse TREASURY CERTIFICATES, (Quotations furoished by Redmond & Co.) 3%s June 15, 1923. 94 Beptember 15, 41¢s Beptember Decembe: NEW STOCK ON CURB. Phillips Petroleum, New Issue, Put on ‘Board. By the Associated Press. NEW YORK, April 26.—There were many interesting features in the curb market today, among them Phillips Petroleum, new stock, to be issued in ‘connection with the increase in capitalization of that company. Those shares were traded in at a fraction above 41, about the equivalent of the market position of the present stock on the New York Stock Exchange. A sale of Columbla Emerald at § cents a share caused comment among those who recalled sales of the stock at above $12 a share a few years ago. That stock, since, was ex- changed at the rate of twenty-five for one for. the present iasues,-leaving the high range the new.'basls equal to about 350 a clipped lambs, mostly 11.75a12.0 load 78-pound averages ecarly, 12.40; some held higher; sheep around steady; two decks clipped 160-pound weathers, 7.50; one deck clipped 95- pound ewes, 8.00. DAIRY PRODUCTS. BALTIMORE, Md., April 28 (Spe- clal).—Poultry—Live, young chickens, pound, 35a36; poor am thin, 25 win- ters, 45a50; springers, 56a60; leghorns, springers, 45a50; old hens, 26al7; small and leghorns, 25; old roosters, 15a16; ducks, 23a25; small and poor, 20a21; pigeons, palr, 35a40; gulnea fowl, ‘each, 40a80. - Egge—Loss off, native and nearby firsts, dozen, 25; southern, 24. Butter—Creamery, choice to fancy, 43a45; prints, 46ad7; nearby, 4ladZ; rolls, 38a39; store packed, 37; dairy prints, 38a42. CONTROL OF FIRM By the Associated Press. PITTSBURGH, Pa, April 26— Former employes of the Standard Scale and Supply Company of Beaver Falls, a $600.000 corporation, have taken over control of the company, which was declared a voluntary bank- rupt. Each department is represent- ed in the reorganization, the officers W. N. Haines of Beaver Falls, president; J. Gamble of Cleveland, Ohio, and D. L. 1y of Philadelphia, vice presidents, and R. H. Chappel of Pittsburgh, secretary and treasurer. Headquarters of the company are in Pittsburgh, with branch offices in New York, Chicago, Philadelphia and Cleveland. The new corporation assumed a bonded indebtedness of $209,000. TODAY’S WOOL AUCTION. LONDON, April 26.—There were 18,103 bales offered at the wool auc- tion salesz today. The selection was of. fine quality and -was readily-ab- sorbed home, . centinental and American inyen at full current rates. i : !EMPLoYEs TAKE Bushels. { Special Dispatch to The Star. CHICAGO, April 26—Wheat sold at the highest prices of the season in the early trading today and then reacted under profit taking sales. Sentiment| was decidedly bullish and there was) some important buying in the market| early. Commission houses had plenty of wheat for sale around top prices, most of which was for outside long who wanted profits. The weather in| tho northwest was wet and a furtheb| delay in spring seeding resulted. In| the southwest, especially over the dry! parts there were heavy rains, but) the general opinion is that the rains| were too late. United Kingdom was a heavy buver of wheat at the seaboard. Liverpool market was sharply higher because of| the smaller Argentine shipments., Total export sales were estimated as| high as 1,000,000 bushels which in- cluded 250,000 bushels to Ttaly, 500.000 bushels Manitobas to United Kingdom and some gulf hard winters. Money to Loan Becured by first deed of trust on real cstate. Prevailing interest and commission. Joseph 1. Weller '.?,,Y';{‘,; = ‘;."‘.’_“f LOANS If you have money to invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your pro- tection. Courteous treat- ment. Percy H. Russell Co. SW. Cor. 15th & “K” Sts.r5