Evening Star Newspaper, June 12, 1923, Page 24

¥ . develpoment . portant we. 04 ™ STOCKS SELL OFF 'INFINAL TRADING 0Oil - Shares Lead Selling | Wave—Some Low Prices for Year. BY STUART P. WEST. @pecial Dispateh to The Star. NEW YORK, June 12.—In today's ftock market the same distinction was. maintained as on previous days between the railroad stocks and the industrials. The former were better supported and at intervals were fairly strong. The latter moved with con- siderable uncertainty and while with- put being weak were selling most of he time under the level of Monday's . initiative in the rails by pools and a few trying to pull the its rut by making the the leaders. -Southern in seemed to be the st confidgently bought of any. It ¢ figurcd out that the entire dividerd on the preferre ercd in the first quarter of ad allowing for seasonal rom now on, the surplus or the common at the close mething over $8 a market out ¢ lway group Dividend Spe This is enough Tut there are view of the ne agltation prospecti railroad psery: All sorts of 10 what the New York Cent tors would do Wednesday. jority opinion was that would be raised to 6 per which event the stock would be high enough. If 7 per cent were paid, as some think 1t will, it would un- fresh enthusiasm st in_general. If the should happen and the cent be maintained, et would be in all probability 1o cast a damper upon efforts to pro- long the upward movement in the rails Oil shares were heavy, two exceptions, but n pressed as on other day ‘inanclal Review and Outlook. movements in the various kets were very much confused and altogether threw no fresh light 1 the zene Selling went on in parts of the stock exchange list at the same time that new buyi in other sections. T no particular sig t showed werely, as the market has for the last two weeks, a tendency to settle down around the present level and to wait in the business world. the outlook crman the cent, doubtedly for the opposit with one or much de- Pessimism dis, g of problem at this time wa enough evinced in the course of the foreign exchanges. German marks made a new low, getting below .0012 cents. French francs below ' 6.40 cents, were lower than they had sold in nearly three months. Tire Trade Causes Worry. Occurences in_the business situa- tion were conflicting. The stock market not relish the prospects of : did and freely what these paying for the terials and whether they position to take advantage of are crude rubber. old the stocks The malin ompanies le to offset reduction »¥ the lower production Thére were intimations that further readjustment which seems to be nec- eggary in the oil trade would be ac- complished by the midcontinent re- kS i wn their orders for o way that has Calitornia dis- continued under in the market waiting some such tricts. Oil shares more or less pres of the day as if «dly better tone, however, appeared in the copper market and confidence in the outlook of the metal as afformed by the action of the A Smelting directors In putting the stock on a $5 basis, the first divi- dend that has been paid in over two vears. Oils Lead Downturn. As the afternoon went on the stock turned downward under the d of the oil shares. In some of low prices’ for the year no explanation for the that_efforts to revive interest Ly putting up the stocks had failed and that accepted as an encourage- me tentative renewal of op- on_the short side, Outside the oil stocks which were quite evidently discounting further trade readjustment there was no im- Rails were having reaction after last the losses in most of leaders did not go be- » t of an ordinary down ng in a so-called “dragging mar- Dt outside railroad this was ment to ratio MARKET CLOSES WEAK. By the Associated P v June 12—Profes- speculators for the decline eded in depressing prices of most industrial stocks in today's mar- the buying power being limited largely to the railroad shares. Oils and rubbers were particularly weak, ral sha in those groups estab- Sales y. e t final dealings, many als losing 1 to 2 points on da; Woolworth broke 10 points from its early high. U. S. WAR GUN PLANT SOLD FOR $380,000 Sale of the Lrie howitzer plant, at g to the Ashworth-Odell any of Salamanca, N. vas approved today ar Department. The sale brings to a close a pro- longed 1ifegotiation between the de- partment and bidders interested in the project, during which Senator Pepper, republican, Pennsylvania, was in frequent conference with Sec- retary Weeks and other officials. The successful bidders, it is understood, proposed to extend its manufacturing business from its New York plant to Srie. he rea] estate and buildings were purchased by the government from the American Brake Shoe and Foun- dry Company during the war for the manufacture of 155-milimeter howit- zers and cost $645,355 at that time. CLOSING SUGAR PRICES. NEW YORK. June 12.—Sugar fu- tures closed steady; approximate sales, 31,000 tons. v, 5.76; September, 5.79; December, 5.27; March, 4.07. et b v NEW YORK EGG PRICES. | NEW YORK, June 12.—Eggs weak; receipts, 64,795 cases; fresh gathered STIS frean gathared siorase packed, 24%; e orage ::tndlrm 26%a2%; do. firsts, 26 : cutting competition { ANCTAEL, WHEF EVENING STAR, WASHINGTON, D. ¢, TUESDAY, JUNE 12, 1923. NEW YORK STOCK EXCHANGE Qpen. High, Adv Rumley. 13w 18% 42 Am Br Shoe pf.. AmCan........ Am Car & Fdy.. Am Chicle Co Am Drugglst... Am Express. ... AmH & Lea pt. Am Loco pf Am Metal; Am Radiator. Am Sate Razor. Am Ship&Com. . Am Smeltin, Am Smelt pf. Am Steel Fdy. Am Sugar. . Am Sugar pf. Am Sumatra. Am Tel & Tel, Am Tobacco Am Tobac (Bs.. Am Tob pf (n).. Am Water Wks. Am WWk6% pf. Am WWk7% pt. Am Woolen Am Wool pf f pd. Am Woolén pf.. Am Zinc&Ld pf. Anaconda." Arnold Co Asso D Goods. .. AssoD G 1st pf.. Assoclated Ofl.. Atchison. .. Atlar Cst Ling Atlantic Gulf. Atlantic Ref. i Auto Knitter. Auto Sales. Auto Sales pf raldwin Loco. .. Baldwin Loc pf. Balto & Ohlo. ... Balto&Ohlo pf. . Barnesdall (A). Barnesdall (B). Batopilas Min... Beechnut Pack. Beth Steel Beth Stl 7%(n).. Beth Stl 8% pf. Bklyn Edison Eklyn Rap Trn. BRT warrants. Bklyn Un Gas | Burns Bros (B). Buff R&Pitts pf.. Butte Copper. .. Butte & Super.. Caddo Oil Calif Pack. { Calif Petrol Calif Pet ctfs. .. Calif Petrol pf.. Callahan Zinc. Central Leath Cent Leath pf. Cerro de Pasco. Chandler Mot... Chesap & Ohlo.. iChes & O pf wi.. Chi & Alton. Chi Grt West. .. Chi Great W pt, |ChiMil & StP... | Chi Mil&StP pE.. Chi RT &P6%pt. Chi RI&P 7% pt. Chi StPM&Om. . Chile Copper. Chino Copper... CC C&St Louis Cluett Peaboa: Colo Fue Colo & Sou Columbn Carbon. ColumbiaGas wi Comp Tabulat.. Con Gas new.. Cons Textlle. ContCan....... Continental Mo. Corn Products. . Cosden & Co.... Crucible Steel. Crucible Stl pf.. Cuban-Am Sug i Cuban Dom’can. Cuban Dom pf.. Cuyamel Frult.. Davidson Chem. Del & Hudson. .. Detroit Edison. Dome Mines. ... Dupont (ED)... I Eastman Kod... Elk Horn Coal. . Emerson-Brat.. Emerson-B pf. . Endicott-John. Exchange Buff. Famous Play. .. Fd Mines&S pf.. 40% Fisher B of O pt. 100 Freeport Texas. {Gen Am Tk Car | Gen Asphalt. Gen Asphalt pt. n Cigar. . Gen Blectric. Gen Elec spl wi. | Ger Motors..... Gen Mot 7% deb. Gimbel Bros pf.. Harbishaw Cab, Hartman Corp. Hayes Wheel Househ'd Prod. Houston O1l. Hudson Motors. ‘ Hupp Motors Ilinots Central. Ind Oil & Gas. Iniand Steel w1. 36 Inland Stl pf w 1. 101% Inspiration. . Interb Rap Tr. Int Coment InCombust B... Int & Grt North. Int Harvester. Int Mer Marine. Int M Marine pf. Int Nickel 26% 22 112% % 36 101% 38% 112% % Intertype Corp.. Jewel Tea. 57% Jones & L'ghnf. 108% K CP&Lt 1st pf. 94% Ka City8... 21% Kansas C So pt. Kayser (Julius). 83% Kelly-Spr Tire. . Kelly-Spr 8% pt. T 9% lsey Whlpf.. 101 - 101 . 8% 364 Low. OClose. 13 18 41% 41% Lee T & Rubber. Lehigh Valley. . Lig & Myers pf.. Lima Locomo... Loews Inc...... Louls & Nash. Mack Trucks. .. Copper. Mallison & Co. .. Manati Sugar. .. Manila El Corp. Man El inv guar. % | Manhat Shirt. Marlazd Ofl Marlin-Rock Martin-Par; Mathison Alki] Maxwell (A) Maxweli (B) May Dp Store: Kfln;yre Por. Minn & St L (n). MoK & T (new). MK&T pf clA (n) Mo Pacific. ....... Mo Pacific pf. Montg'y W'rd, Moon Motors. Mother Lode Mullins Boa: Mulltns Bdy pf.. Nash Motors pf. Natl Acme. . Nat Condult Natl Dept Stor Natl Lead. . Nevada Copper. N Or Tex&Mex. NY Afr Brake N Y Canners NY Central. N Y Dock. N Y Dock pf. NYNH&Hartfd. NY O&Western. North Amer. North Am pf. . North Pacific. .. Ohio Fuel Sup.. Onyx Hoslery... Otis Steel. .. . Owens Bottl - PacificOll. ..... Packard Motor. -Am Pete. .. Pan-Am P (B).. Panhandle. ..... Parrish & Bing. Penn Coal & C'ke Penn Seabd Stl.. Pennsylvania. .. People’s Gas. ... Pere Marquette. Pere Marq pt.... Philadelphia Philip Morris. Phillips Pet Plerce-Arro Plerce-Ar pf. Pierce-Ar pri Pierce Of).. .. Postum Cereal.. Pressed Stl Car. Produc & Ref... Pub Serv (new). Pub Service. Rallway Stl Sp. Rap Tr Sec w.l.. RapTr Sec pt wi Ray Con Cop. Reading. . . | Reading 1st pf.. Remington..... Replogle Steel.. St L South pf. San Cecll Sug. Schulte Store Scaboara alr Sead'd A L pf. Sears Roebuck.. Shell Tr&Tran.. Shell Unlon. . Shell Unton pt.. Stmms Petrol. .. Simmons. Sinclair Ofl. Skelly O South Pacific. .. Southern Rwy | Southern Ry pf. Sterling Prod. Stew’t-Warner. Stromb'g Carb Studebaker. Superfor Ofl.... Sweats Co of A.. Tenn Copper.... TexasCompany . Tex Gulf Sulph.. Texas & Pacific. Tex & P C & Ofl. Timken Bearing Tobacco Prod Tobacco Prod Union Pacific. Union Pac pf. Un Alloy Steel.. United Drug. {Utd Pap Board. | Utd Ry Inv pt Utd Retall Strs. USSteel pf. Utah Copper. Utah Securitles, Vanadium Coj ValrCoal&C.. Wabash. . . Wabash pf (A). e Waldorf (o)., Web & Heilbrn. 2% K E: 11% % 36 101% 82% 16% 37% | We 2234 | West Alr Brk 23 | Westhse EI&M. 77% | Wheeling&L B. Wheel & LE pf. Call Money. NOUII.IV“IALI. OF STOCKS. 7% 9TH 101 101 _36% - 381 V0 Anng 23% 1475 851 1% 1% 9% 1% 10% Ad5% 60% 28% 14 Tide Water Ofl.. 110 88y 59 324 104 in 57 88 dd% 46 42 11 1% 49 19% 17% 16% 26 8% 26% 7 ) Serblan 8 ADVANCES SCORED |[oxxew voxx BONDS smome sscaurce] Received by Private Wiredbirect to The Ster Office. BY AUSTRIAN BONDS Go Two Points Above Offer- ing Price—Rail Issues Also in Good Demand. 8Special Dispatch to The Star. NEW YORK, June 12.—Interest in today's bond market, as vesterday, was confiied to two classes—forelgn issues and the second-grade and speculative rails. The new Austrian loan sold at 1 2 points premium over the offer- ing price. Investment bank Ing houses reported a much larger pro- portion of these bonds permanently placed than had been anticipated. It was first supposed that the large oversubscription represented more speculation than {investment. The contrary proves to have been the case. Apparently the guarantee combined with the high yield had proved very attractive. Outside the dealings in the Austrian loan the feature of the foreign de- partment was the sharp rally in the Jugoslav 8s, popularly known as the Practically all the loss of yesterday was regained. Thealarm over the political disturbance in Bul- garia, which it was feared would af- fect adversely Jugoslavia, seemed to have subsided and the statement glven out by the fiscal agents for the loan in America was very reassuring from a financlal standpoint. There was more speculative buying of junior ralls such as the St. Paul convertible 41s, the Erle prior lien 4s and the Erie convertible 45. Some interest was also shown In Seaboard bonds, notably the adjustment 5s, not now paying interest. High-grade Investment securities were dull and inclined to be reactfon- ary. PRODUCE RUSHED l BY GEORGE T. HUGHES. TON.Y. MARKETS| Potato Shipments Heaviest. 302 Cars of Oranges—To- matoes From Mississippi. Dispatch to The Star. W YORK., June 12.—Approxi- | mately 3,000 cars of fresh fruits and e 11234 15% 42% 99 104% 493 29 4% 84% s % 19 31% 9 5% 28 59 621 62% 621 62% 236% 243 231 281% 83 82 - 3% 104 104 10% W 69 9% w, Last, 9% 304 500 529 800 Innaird, eldest & Lo} vegetables were received during the week ending June 9 on the New York city markets from different parts of the country as well as from various foreign countries, exclusive of the large quantities trucked in by motor from nearby areas. White potatoes, with 657 cars, continue to be the most important among the vege- tables, while oranges, with 302 cars, took first place among the fruits. Long Island green peas made their first appearance at the farmers’ mar- kets this morning, and sold at mostly $3.50 per bag containing about one bushel. The season's first Mississippl tomatoes consisted of about five carloads. Sales ranged from $2.00 to $2.70 per crate con- taining about sixteen guarts. Cuctmber prices sharply declined under continued heavy receipts, prin- clpally from South Carolina. Fancy stock in bushel hampers sold from $2.50 to $4.00 according to condition. Fancy large sized green corn con- tnucd Yo mect metive demand | Sup_ plies were moderate from Florid Crates containing about four dozen ears sold from $2.50 to $4.00. TRADING FEATURE IS AUGUST COTTON Prices Jump While General Mar- ket Holds Barely Steady s After Rise. shipment of By the Assoclated Press. NEW YORK, June 12.—The trading feature of the opening of .the cot- ton market today was the relative strength of August. Only four lots were wanted, but before they were secured the price advanced to 28.20, or 32 points net higher. The gen- eral market, however, opened barely steady at declines of 9 to 19 points, owing to relatively easy Liverpool cables, rather better weather re- ports from the south and realizing after the big advance of vesterday. There was irregularity right after the call, but profit taking increased on moderate bulges and, after selling at 28.60, July eased off to 28.40, while October declined to 25.00, or about 15 to 25 points net lower. Cotton futures, 1J:45 am. bids— 28.46; Octob 25.10 De- 6; January, 24.0 March, .00, NEW ORLEANS, June 12.—Cotton futures opened steady; July, 2852; October, 24.53; December, 23.94; Jan- uary, 23.8 March, 23.69. Futures, 11 a.m. bids—Steady; July, 28.41; October, 24.40; December, 23.78; January, 23.59; March, 23.60. NEW YORK, June 12.—Cotton—Spot quiet; middling, 29.70; cotton futures closed steady: July, 28.44a28.49; Oc- tober, 25.05a25.07; December, 14.40a 24.44; January, 24.05; March, 23.97. OIL MILLS CLOSED. Suspension Due to Lack of Busi- ness, Is Claim. * MEMPHIS, Tenn., June 12.—The Memphis mill of the American Cot- ton Oil Company, and twenty other mills of the company in the southern division will be closed, according to L. P. Brown, jr. divisional manager, who sald the order for suspension came from the New York office. The suspension, Mr. Brown said, was due to the slackness of business and would probably continue until_fall. Mills at Jackson, Miss., Little Rock, Ark., Monroe, Shreveport, La. ‘Waco, Dennison and Houston, Tex. Atlanta and Macon, Ga., and other citles were affected. CALL MONEY EASIER. NEW. YORK, June 12.—Call money e igh, 6: low, 4%: ruling rate, 3 1 flered at 4% ; last loan, 4% call loans against accept- time loans steady; mixed nce, collateral, sixty to ninety days, 4% a5; four to six months, 5; prime com- mercial, paper, 5. SKINNER SUITS DROPPED. OMAHA, Neb.,, June 12.—Settlement out of court resulted in dismissal to- day of all suits brought by stockhold- ers who sought to recover a’ total of 85,600 from the Skinner Packing ,“which is in. the hands of & federal reoeiver. Coun: for both ‘:'d“ said the ,-tock:oluou had cb‘a?: notes for their stocks ns. represent thirty Bxample: 101-1 means 1011-32) * Sales. High. . Close. +e0 457 101-3 101-1 101-1 98-8 98-8 en Atchison gen 4a. % Atchison adj ds... 5 AtlanticCL 1st 48 2 Atlantic CL ol 4s. Atlantic CL 4%s. B&Oprin3ys. 2| B & O gold B&OGs 44 US4%e1952. 286 "~ FOREIGN. Bales. High. Low. Argentine 7s. . Austria7s wi.. Den: k Denmark Framerican 74s. . Firench Govt 8s Trench Govt 7% Hait! 1 Netherlands 6s Norway Norway Paris-Ly’s- M Prague 7%s...... Queensland 7s. Queensland 6 Rio de Jan 831346 Rio de Jan 88 1947. £ao Paulo,City.8s. . Sao Paulo.State.8s. Ud Kingm 5% Ud Kingm 6% 37 Uruguay 8s. Zurich 8s.. MISCELLANEOU:! Ajax Rubber 8i Am Agr Chem Am SmIt&R 1st bs. Amer Smelting 6s. Am Sugar Ref 6s.. Anaconda 1st 6s. Atlantic Refin bs.. Bell Tel Pa §s rcts. 19 Beth Steel pm 5s.. 3 Bklyn Ed gen Bush T Bldg 6s Central Leather Gs Cerro de Pasco 8s. Chile Copper CInG & E54s'62. Commonwth P 6 Con Coal Md 1st Cuban-Am Sug 8s. Cuba Cane cv d 8s. Dery (DG) 7s..... Det Edison ref 6a., Diamond Mth 7138 Du Pontde N 73%s. Duguesrie Light 63 E Cuba Sug 73%4s... 3 Goodyear 85 1921, Goodyear 8s 1941, , Humble O&R 5%s. Liggett & Myers 7s Lorillard (P) 5s Manat! Sug sf Tis Marland Oil 8s w. . Mexican Petrol 8s. Mich St Tel 1st 6s. Midvale Steel 5s. .. Montana Power Gs Morris&Co 1st 435e Nat Tube 1st 5 New Eng Tel Gs. - oy - RO QMO OB R BRI D WO BN 00 Pacific Gas & E16s m'r&'rs'-'u.,. - -5 Producers & Rt Public Service 6 Punta Alegre Sharon Stl H 8s... Sinclair Oll 7 Sin Crude Ofl 54s, ES IR N e Tenn Elec Pow 6s. Tide Wat Ol 6%s. Tobacco Prod st 75 Toledo Edn 1st 7s. Union Bag & P 6i Unit Drugcv 8s... U S Rub st rfGs.. U S Rubber 7% US Steel s £6s. Utah Pow & Lt & Vertlentes Sugar Va-Car Chem 7s. Car Chm 7% warner Sugar West Union 6%8.. ‘Wickwire Spen 7s. wilson & Co 1st 63 Wilson&C ov 7Xs. wilson & Co cv 6s. 1! Winchester A 7%s 36 ——e GOODYEAR DIVIDENDS. /| NEW_YORK, June 12.—The Good- year Tire and Rubber Company of Canada today declared its regular quarterly dividend of 1% per cent on preferred stock, and also 13 per cent on preferred for the quarter ending March 31, 1921, on account of back i @ividends. Both are payable July 3 on stock of record June 20. BUTTER PRICES LOWER. CHICAGO, June 12—Butter lower !creamery extras, 3813; standards, 39 extra firsts, 37a38; firsts, 35%a86%; seconds, 34a34%. Eggs 1 di firsts, Shn STvall; storage pack, 2414; storage pack, firsts, 24, TODAY'S METAL MARKET. NEW YORK, June 12.—Copper firm- er. Electrolytic, spot and futures, 15a15%. Tin, easy. Spot and nearby, 42.00; futures, prices, unchanged. 1.26. Zinc, easfor; E: ul 0 d nearby delivery, 6.15. Antimony, pot, 6.75 ——— BAR SILVER QUOTATIONS. NEW YORK, June 13.—Fore| ‘bar silver, 65%; Mexican dollars, 49%. , June 13.——Bar silver, 31%d ounce. -Money, 1 cent.- Dis- Rouint rates—Short xi’."z per. cent three-month bills, 242 116 per cent. ] ; @ 1o o PRRO OGN D h e g eatd P 89t 89% 105 105 ton 33s. . ChIBAQ wn oes. Chi B&Q 1st rf 55, E Tl gn cce OB BB0D to Erfeconv 4s A. ErfeconvdsD.. . Gr Trunk sf db 65, Grand Trunk 7s Gr North gen 7s. .. Gr North gen 5% a. GreenB& Wdb B, Havana ERL&P 58 or aj Iowa Central rf 4s Kan City Pt § 4 Kansas City § 3, Kansas City 8 5, Kan City Term 4, Lake Shore 4s ‘31 Long Island rt 45 Louls & N unf 4s. , Louls & Nash 7s. Louls & Nash 53 s, 9 - - 2 29 2 10 37 9 1 3 8 9 9 4 3 2 9 2 2 9 0 4 7 9 8 2 6 3 4 4 1 1 9 1 1 2 1 4 & deb6s. .. N Cent aeb u.. ;147 NYCentrigs,.. New Haven c d gs. New Haven 7s.... NYState Ry 4%, NYW & Bos 4155, Northrn Pe 5s ret. Cro Short L ref 4s. Ore-Wash 1at rf 4a Union Pac lstrt4s °f Union Paccv 4s... 28 Union Pac cv 6 Virginia Ry 1st 2 Western Md 4s, 2 Western Paci: WheraLE Ty e 18 Wisconsin Cent 4s. 1 TOTAL SALES (Par v. alue) 1: am.. 3194000 12 noon, 50(;1'000 Dm.. 6396000 2pm.. 7641000 - —_— FOREIGN EXCHANGE. June 12, 1923, S (Quotations furnished by W. B. Hibbs & Co.) Nominal " Selling checks %old value. 6% Loudon, pound. Montreal, doll; Parls, frane Brussels, frane. k.. BOSTON STOCK MARKET. BOSTON, June 12.—Following is a list of today's highest, lowest and clos- ing prices for the most active stocks dealt in here: Am Tel & Tel Amoskeag. Arcadian_Cons Arizona Com . Boston & Maine Boston-Elevated Calu & Aria u & Hecla Carson Hill Min 3T, Isle Royale . Mars G Mayflower 0 C . Mexlcap Investment Mohawk Nationa | trading briskened Print ‘e\oflm FINANCTAL," Grain, Produce and Live Stock WHOLESALE MARKET. ‘There has been a material dropping off of recelpts of spring chickens since the first of last week, and the market is stronger. Decrease in re- celpts of springers, it is stated, prob- ably resulted from the increased shipments for the market during Shrine week. Poultry generally is scarce, accord- ing to reports, but dealers expect it will be more plentiful before -the close of the week. Shortage of re- celpts has not affected prices to any material extent. Dealers are not quoting prices on the large quantities of beef held over from last week. The market is steady and stronger on fresh beef and lambs and steady on veal. Eggs—Strictly fresh, selected, can- dled, per dozen, 26; average receipts, 23; Southern, 23. Live poultry—Roosters, per 1b., 14; turkeys, per ib., 26; spring chickens, per 1b., 36ad5; Keats, young, each, 60; fowls, per Ib.,’ 25. Dressed’ poultry — Fresh - killed spring chickens, per lb., 50a55; win- ter chickens, per Ib., 35a40: hens, per 1b., 28; roosters, per Ib., 20.; turkeys, per_1b., 40a45; keats, young, each, 70a80. Live stock—Calves, choice, per 1b., 9%; medium, per lb.. 8a81; thin, per 1b.6a7. Lambs, spring, per Ib., 12; live pigs, 3.0025.00 each; iive hogs, per Green fruits—Apples, per bbl, 4.00 a8.50. California oranges, per crate, 5.0026.50; Florida, 5.50a7.00. Lemons, per box, 5.30a6.50. Grapefrult, 4.00a 5.00. Strawberries, per qt. Gbals. Blackberries, qt., 6a20. Vegetables—Potatoes, 1, 1.50a2.00; per sack, 2. potatoes, per bbl, 2, 1.00a2.5 Carolina, Lettuce, . sotthern, 2.50; Romaine lettuce, per crate, 75a Iceberg lettuce, per crate, 6.00a LEggplant, per crate, Tomatoes, per box, Florida, ;: Beans, 1.5043.00 per basket. Peas, 50a 2.50 per basket. Peppers, per crate, Florida, 1.00a4.00. Kale, per barrel, 1.00a2.00. Spinach, per barrel, 3.50. Celery, per crate, Florida, 6.00. Squash, 1.50a2.00. beans, 4.00a7.00 gus, 1.00a4.00. GRAIN AND PROVISION: BALTIMORE, June 12 (Special). Potatoes, new, barrel, 2.00a5.50; old, 100 pounds, 7521.75 Dounds, 1.254 2 sweets and a3.00; bushel, dozen, 1.00a3.00. 2.25. Beets, hundred, .00. bage, basket, 1.25a1.50. Carrots, h dred, 3.00a6.00. Corn, crate, 1.50a2 Cucumbers, basket, '4.00a4.50. plants, crate, 2.504.00. Kale, bushel, 36a40. Lettuce, bushel, 75al.25. Onions, 100 pounds, 1.50a onlons, "hundred, 1.00a1.2 bushel, 1.25a2.25. ' Peppers, crat 3.50. ' Radishes, hundred, Rhubarb, hundred, 2.00a3.00. bushel, 35a75. Squash, basket, 1.50a 2.00. Tomatoes, crate, 2.50a4.00. Black- berrles, quart, 12a20. Cantaloupes, crate, 1.50a6.50. Cherries, pound, 6al5. Grapefruit, box, 2.00a3.25. Huckleber- ries, quart, 25a30. Oranges, box, 3.00a 6.00. Peaches, crate, 2.00a3.50. Pine- apples, crate, 2758320, Raspberries. a18: wherrfes, i 5 Watermelons, 45a75. T Selling Prices at 12:15. Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 1.20%; No.'3 red winter, spot, no quo- o. 2 red winter, garlicky, 0. 3 red winter, garlicky, no quotations; June wheat, 004 Florida lima per basket. Aspara- ams, un- .50. Egg- 8%, Sales—None. Corn—Cobb, 5 try . 3 or better, 95 9615 per_bushel. r Sales—None. . 3, 52 b ] q.’lye— earby, 76d80 per bushel; No. 2 western export, spot, §0% per bush- el No. 3. no quotation. Hay —Receipts, 719 tons; ample re- ceipts for all trade wants, 18.00a22.00 per ton. Straw—No, 1 tangled rye, 15,00a 16.00; No. 1 wheat, 12.50a13.00; No. 1 oat, nominal, 14.00a15.00. DAIRY PRODUCTS. BALTIMORE, Md., June 12 (Spe- cial).—Live poultry—Spring chickens, pound, 45a55; small and leghorns, 35 a40; old hens, 22a24; leghorns, 20a21; old rooster, 14; ducks, 16a20; spring ducks, 47a28; pigeons, palr, 30a3 Eggs (loss off)—Nati 37a41; prints, 43a43; nearby cream 35239} ladles. 34835; rolls, 30a52; sorc packed, 29a30; dairy prints, 30a32. CHICAGO LIVE STOCK MARKET. CHICAGO, June 12 (United States Department of Agriculture).—Hogs— Receipts, 29.000 head; mostly 5 to 10 higher; top, 6.85; bulk, 180 to 325 pound ' averages, ' 6.6026.80; packing sows, 5.65a6.00; desirable, 110 to 130 pound pigs, 5.00a6.00; heavyweight 80; medium, 6.65a6.85; : 6.25.6.70; smooth, 5.65a6.16; pack- ing sows, rough, b5.35a5.75; killing pigs, 5.00a6.00. Cattle—Receipts, 9,000 head; beef steers and yearlings, strong: spots, 10 to 15 higher; medium grades show- ing most advance: trade rather slow; early top heavies, 11.00; some held higher; best yearlings, 10.50; bulk beet steers and yearlings, 8.50a10.50; she stock and bulls, 10215 higher: vealers, 25 higher; stockers and feeders more active on country ac- count; bulk bologna bulls, 4:65a5.00: fow Heavies. 510: bulk canners. 2.15 a3.00; medium to good stockers wnd feeders, 6.25a7.75 choice feeders scarce. Sheep—Regeipts, 4,000 head; fairly active; spring lambs, - strong to 25 higher; sheep, “steady: six_doubles 66-pound | 5; bulk weight ewes, : heavies, 3.50a4.25. TODAY'S CHICAGO PRICE; CHICAGO. June 12—With better weather for harvest in the southwest, lower prices on wheat formed the rule today during the early dealings. The fact that Liverpool quotations were easier had some additional bearish influence. Besides there was no ag- gressive buying. Opening prices, Which ranged from % decline to % advance, with July. 1.11 to 1.11% and September 1.023% to 1.093%, were fol- lowed by a general setback to well below yesterday's finish. Corn and oats tended downward in sympathy with wheat. at 3, off to %ali gain, July. 81% to 811%, the corn market underwent a moderate decline all around. Oats started a shade lower to a like advance, -July, 41%. Later all the months showed a slight loss. Provisions were responsive to an upturn in the value of hogs. WHEAT— Open. High. Low. LI Lith 1o Rt gt 8114 kK % % 1145 11.65 1.09% 1113 7% k7 friH] ot A1 .41 891 .30% 1127 1142 152 1165 1.27 11.52 917 911 907 1937 930 NEW_YORK, June 12.—Net income of the Rutland Railroad Company for 1922 totaled $153,036, compared with $13,326 in 1921. CLOTH MARKET ACTIVE, NEW YORK, June 12 (Special).— The market for cotton cioths showed a decldedly better tone today and up perceptibly. ‘were the feature and d 68 by i proximately $1.700,000. After opening | 8! RIGGS BANK PLANS BIG:STOCK DIVIDEND Directors Also Recommend * Increase in Capital to $2,500,000. The action of the Riggs Natlonal Bank yesterday, when unanimousan- proval was voted by the board of a1- rectors to recommend to stockhold- ers of the Institution that the capital stock of the bank be increased trom $1,000,000 to $2,500,000, marks one of the largest individual steps taken in local financing for vears. Announcement of the proposed re® capitalization plan was made by Mil- ton E. Alles, president of the bank, following & meeting of the directors, at which a report which has been under consideration for some time was submitted by a committee of di- rectors composed of Charles C Glover, chairman of the board; Mr. Alles, H. Rozier Dulany, Louls E. Jef- frTes and Frank J. Hogan, counsel. According to the plan there will be a “declaration of a stock dividend, payable out of surplus, to the extent of $1,000,000, and the sale of $500,060 new stock at par. - 1t is expected a regular div rate of 13 per cent wlll be establisied, agalnst the 26 per cent now pald annually by the bank. This wil amount to $325,000 a year on the r capital, compared with $260,000 a v ew lon the present capital. Stockholders will be given a s of stock for each share of re the 50. | present holdings in the bank and, addition, will be permitted to sub- scribe for the new stock at the rats of one share for every two shares held. The result of these operations, it is pointed out by Mr. Afles, will be to increase somewhat the return to the present stockholders. The plan adopted by the board and recommended to the stockhold: contemplates at a later date the re- financing of the branches of the Riges National Bank, “a modest be- ginning of a refinancing movement of a great financial institution,” as the directors put it Most of the branch banks of the institution are on a regular revenue producing basls from rentals, and « financing of these offices, it is said, will_result in increased returns to regular Riggs stockholders. It is probable a corporation to be known as_the Riggs Securities Corporation will be organized to handle the real estate holdings of the outside offices. At present Riggs Bank has four out- side offices with real estate holdings amounting to $620,000. These brauches have shown rapid growth in the last twelve months, and are responsible about one-half of the Increase in de- posits of the parent bank in that time. According to the new plan it is pro- posed to take the real estate assets of these offices out of the parent bank and to organize a corporation which would control these holdings. This may Jjusti- fy, it was said, a further increase in capital. 2 £ The change confemplated will not take place, it was pointed out by M Ailes, until the end of the present div dend’ period in October. It will be presented to the controller of the cur- rency today, and permission asked to carry out the program. A special meet- ing of the stockholders will be held during the summer to act upon the recommendation of the board. During the last year the bank. through its four outside offices, has acquired deposits amounting to ap- The cost of the hundsome banik building at 14t street and Park road was $500.000, and the maln office has been remodeled Two new vaults have been installed there at a cost of $100,000, and the Dupont branch is now' under con- struction. The assets of Riggs National Bani ghow capital $1,000,000, surplus 2,000,000, undivided profts $803,000, deposits $25.000,000 and total’ re- sources 60,060. Essay Winners to Be Announced. A committee of Washington bank- ers, consisting of Harry V. Haynes, . Fleming and e B CP R, T o2, Banking” prepared by members of the local chapter, American Institute of Banking, will make their report within the next few days, it was an- nounced vesterday. Authors of the six-adjudged best papers will be taken to the coming convention of the District Bankers’ Association at Hot Springs, their banks standing all expgnses for the trip. Clearing House to Meet. The Clearing House Association will hold its regular meeting in its rooms in the National Metropolitan Bank building next Friday afternoon at 4 o'clock. Nothing but routine business will be transacted. AMERICAN SMELTING RESUMES ‘DIVIDENDS By the Assoclated Press. NEW YORK, June 12.—The Ameri- can Smelting and Refining. Company today resumed dividends on the com- mon stock, declaring a quarteriy pay- ment of 1i; per cent. The last divi- dend on this st was in_March, 1921, when $1 was declared. The quarterly dividend of 1% per cent on preferred also was declared. —— WALL STREET NOTES. Special Dispatch to The Star. NEW YORK, June 12.—Preliminars negotiations are under way for purchase by Schulte Retail Stores Corporation of Park & Tilford, the former having ob- tained an option running for a peric mination of u: sets and business of Park & Tilford New York bank clearings, $801.0 New York bank balances, $63,000, 00! credits, $57,000,000. Nunnally Company of Atlanta has declared a 50-cent dividend on common stock, payable June 30 to holders of record June 2 similar dividend was declared December 30 last. CANADA’S WHEAT AREAS. OTTAWA, June 12—The area of spring wheat to be harvested in Can- ada this year is 21,279,600 acres, as cor pared with 21,530,124 acres in 192 and the area under fall wheat 15 as compared th ar, the dominion estimates today GAIN IN STOCKHOLDERS. NEW YORK. June 12.—Common stockholders of the General Motors Corporation iIn the second quarter of 1923 unmbered 45,921, compared with 45,330 in the first quarter of the year. Holders of the 7 per cent debenture stock totaled 8,523, agalnst 8,591: holders of the 6 per cent debenture stock were 9,680, against 9,783, and owners of the company's 6 per cent preferred stock numbered 3,398, against 3,411 in the first quarter of the current year. URUGUAY PLANS LOAN. MONTEVIDEO, June 12.—The Urgu- ayan government has decided to flo a’ forelgn loan of 15,000,000 gold pesos, the greater part of which will be used in covering budget deficits of last year and of the year ending June 30. LUMBER ORDERS DROP. , NEW ORLEANS, June 12 {Special). * —Lumber orders in the southern [ mills fell off 6.6 per cent in the last week, while production decreased per cent and shipments 18.8 per cent. according to the latest report of tbe Southern Pine Association, made pu 1o today. About 50,163,800 fest were esdered. 0k