Evening Star Newspaper, June 23, 1923, Page 12

FINANCIAL, WALL STREET LIST S VERY UNEVEN Oil Shares Lead_Siump in Many Leaders—Sales, 300,000 Shares. By the Associated Press. NEW YORK, June 23.—Prices moved in rather aimless fashion in today's brief and quiet session of the stock market. Many of the large traders were away for the week end, but most of those who remained fodnd it profitable to sell ofl shares and some of the standard issues, which appar- ently had temporarily exhausted their possibilities on the long side of the market. Corn Products was the weakest fea- ture, dropping nearly 3 points on be- lated profit-taking, following the re- cent declaration of an extra dividend. Baldwin, American Can and Stude- baker also lost ground. Moderate advances took place in the coppers and a few specialties, nota- bly Woolworth, Hartman Corporation and Famous Players. The closing was irregular. approximated 200,000 shares. SUGAR STOCKS STRONGER. Sales Raw Sugar Price Advance Is Im< portant Factor. BY STUART P. WEST. &pecial Dispatch to The Star. NEW YORK. June —Today's price movement in the stock market was very much mixed. but with an underlying note of firmness through- out. One of the fmportant incidents to- day was the confirmation of the sale late Friday of raw rugar at 6 cents a pound, as against Tuesday’s low of 5 cents.’ T bore out the best in- formation which has been that the decline in sugar prices was the result of the general speculative commotion rather than in any change from the strong statistical position in the sugar market. Sugar stocks had ral- lled on Thurse and Friday as readily the age. They were ed today with holding most of helr gains. Rail Control Changes. Oil shares, while they dlid not gain much, tly in_better de- mand. especially true of Marland, which got back above forty the tion price of the new issue. part of the new taken up by a offering had been hort interest put out at higher figures some time ago. Also it 1 that another ofl company had threatened to buy up the remainder if the Marland stock- ngelves were unwil g ncement that control \ and West Virginia s sed to the interests had been stock had dis- ts 5-point ris Stand Ol of Cali- fornia ran up a point and ended at the top. The market closed firm, with pri generally around the previous day s final, Baltimore and Ohlo It has been expected in W that Baltimore and Ohio common stock will go on at least a 4 per cent basis in the fall. Distribution depends upon net income, for Balti- more and Ohio has no reserve avail- able for dividends on its junior issue, as some other companies have. It will be necessary to do con- siderable refinancing not later_ than 1925, when approximately $125.000, 000 'will have matured. Baltimore and Ohlo is being well managed, and the indications are that, with net income holding. to a point an- ticipated, dividends on the common will not only be earned but paid. Nothing has been disbursed on this issuance since March 1919 In the wake of Friday's declaration Dby the Corn Products Kefining directors of an extra dlvidend of $1.30 on_the common, in adtition to the $1.50 regular distribution, the stock sold down today. The news came out Just before the close Friday, and was Tegarded as one of the things re- aponsible for the better tone in_the general | market. Realizing sales made themselves felt, however, this morning. It was rcported that temporary ness in Corn Products Dbusiness may be expected early in the second half vear. Earnings for the full vear have been estimated at about $20 a share. SIX MEN INDICTED. Grand Jury Reports in L. R. Steel Failure Investigation. BUFFALO, N. Y., June 23.—Grand Jury indictmonts against six former officers and directors of the defunct L. R. Steel Corporation were re- ported and fi of the indicted offi- cials were arraicned before Justice Hinkley in supereme court vester- day_after a week of investigation conducted before the jury by Dis- trict Attorney Moore “and Deputy Attorney Gencral Reilly. All five arraigned pleaded not guilty and wero admitted to bail. Two of the indictments reported were secret. Gerald X. Rudoloh, former director of L. R. Steel publicity and a direc- tor of the Mary Lincoin candy shops, was voted a no bill. HUDSON'S EARNINGS. NEW YORK, June 23.—Earnings of the Hudson Motor Car Company are understood to be running on a par with those of the last half of 1922, in _which the company earned profits of $5,461.974, or an average of $910,000 month! In the first three months following the reduction of prices earnings amounted to $1,689,- 039 and those of the second quarter were $2,757,000. EARNS $14.66 PER SHARE. NEW YORK, June 23.—The report of the Famous Players-Lasky Cor- poration and subsidiaries for the ayarter ended March 31 last shows net operating profits “of $1.018,100 after all charges and reserves for federal Income and other taxes. After payment of dividends on the preferred the balance of earnings is at an annual rate of $14.66 on the outstanding common stock. DRY GOODS MARKET. NEW YORK. June 23 (Spectal).— There were still no noticeable effect of a stronger cotton market on print cloths today. Prices for 64 by 60s and 68 by 72s remained unchanged end fnactive at 9% and 11%. There was some little business done in sheetings and sateens, but generally the market was very dull. Raw silks were inactive and prices held at Friday's levels, reflecting the Mnarket in Japan. —_— BANK CLEARINGS. NEW YORK, June 23.—New York ank oclearings, $688.000,000. New York _bank _balances, $73,000,000. New York Federal Reserve Bank credits, $70,000,000. ASSESSMENT ON STOCK. BOSTON, June 23.—An assessment of 50 centy a share has been called by Arcadian Consolidated Mining Company, payable July 16 by stock- Aholders of record July 14. Gonxlp. 1 street Among the Eskimos of Baffin Land if there is a shortage of food the ©0ld people of both sexes, it is said, willingly face @eath by starvation. THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office i Adv Rumley pf.. Ajax Rubber Alaska Gold. Alaska Juneau.. ! Allled Chem. | Am Ag Chm pt Am Rosch.. . Am Brake Shoe Am Can.. . Am Car & Fdy. . Am Cotton Oil. . Am Druggist... AmIce. Am Locomo. Am Loco (new). Am Metal ‘Am Safe Razor. Am Ship&Com. ‘Am Smelting Am Smelt pf. Am Steel Fdy. Am Stl Fdy pf. Am Tel & Tel Am Tobacco. Am Tobac (Br.. Am Water Wks. Am WWk6% pt. Am Woolen Am Woolen pf.. Am Zinc&Lead. Anaconda. . Arnold Co...... Asxso D Goods. Atchison Atchison p! Atlan Bir&Atl. . Atlantic Fruit.. Atlar, Cst Line. Atlantic Ref. Austin Nichols. Auto Knitter, Ealdwin Loco. ... Halto & Ohlo. Barnesdall (A). Beechnut Pack. Beth Steel. . Br EmSti2d p! B R T warrant; Burns Bros (A). Burns Bros (B). Butte & Super.. Butterick...... Calif Petrol.... Callahan Zine. . Canad'n Pac. Cent Leath pf. Cer.o de ’asco. Chandler Mot. Chesap & Ohto. Ches & O pt wi Chi & Alton pf. Chi Great W pf. Chi Mil & St P.. Chi MI&SEP pt. Chi & Northwn. Chi Pneu Tool... Chi R1& Pac Chi RT &P8%pt. Chile Copper.s... Chino Copper. Columbia G Columb’a Grap. Col Graph pt j ~omp Tabulat.. Con Gas new Cons Textlle. Cont Can. . Continental Mo. Corn Products. Cosden & Co. Crucible Steel. Cuban-Am Sug. Cub Cane Sug. Cuba Cane S pt Cuban Dom’can. Cuyamel Fruit.. Davidson Chem Del & Hudson. . Devoe & R1st pf. wome Mines. Dupont (ED) | Eastman Kod. Liec Stor Bat Endicott-John Erte..... .. Erie 1st pf. Erle 2d pt Famous Play | kit Av Bus wi. wisher Body Fisher B of O pt. | ¥isk Rubber. Fleishman. Foundation Freeport Texas. Gardner Motor.. Gen Am Tk Car. Gen Asphalt. | Gen Asphalt pf. Gen Biectric..... Gen Motors. ... Goodrich. Goodrich pf Goodyear pf. Granpy Consol < Northern pt Great Nor Ore.. Greene-Canan. Guantana Su Guit St Steel... Hartman Corp.. Househ'd Prod Houston Oil.... Hudson Motors. Indiahoma...... Indlan Refining. | Inspiration. . | Interb Rap Tr. int Cement. 1n Combust E. Int & Grt North. Int Harvester... Int M Marine pf. Int Nickel. . {Intl Paper. Intl Paper (sta). int Shoe. ... Intertype Ci Invincible Oil Island Oil.. Jewel Tea. Jones & L'gh pf. Kansas City S. Kansas & Gulf. Kayser (Jullus) Kelly-Spr Tire. Kennecott. . Keystone Tirt Kinney G R. | Laclede Gas. . LE & Wnctfs. . Lee T & Rubber. Lehigh Valley.. Lima Locomo, Loews Inc Loo: Wiles. . Louls & Nash. . Mack Trucks Magma Copp Mallison & Co. Manati Sugar. Manhat Shirt Marland Oll. Mathison Alkill. Mex Seaboard. Miami Copper. Middle St Ol MoK & T (new). MK&T pf c1A (n) Mo Pacific. Mo Pacific pf Montg'y W'rd. Moon Motors Mother Lod Nat Biscult Natl Cloak & 8. . Natl Ry of M 2d. Nevada Copper. N Or Tex&Mex.. NY Afr Brak N Y Central. NY Ch&StL cf NYNH&Harttd.. NY O&Wastern. Ni Falls Pow pf. Norf & West North Ame: North Am pf.... North Pacific Oklahom Prod Orpheum Cir. Owens Bottle... PacificOll...... Packard Motor.. Packard Mot pf. Pan-Am Pet Pan-Am P (B) Parrish & Bing.: Close. 351 | Penn Seabd 8tl. 8% | Pennsylvania * 1% €8% 43 83% 2% 935 166 6% 4% 9634 1878 68 44 5% 12 659% 984 36% 98% 0% 21 122% 145% 144% 88 58% 874 99% 10 41 2% 5% 1% 13 84% 21% 21% 80 26% 1339 39% 67% 664 28 11% % 193 | 107% 20 % 31% 88 34% 5% 57 85 31% 22 62% 64 16 42 92% T4% Pere Marquette Pere Marq pf.... Philadeiphia Co. Phillips J pf.... Phillips Pet Plerce-Arrow. Plerce Ofl. PittsCoal... Pitts & W Va. Pitts&W Va pf Postum Cer. Pressed St C pf. Produc & R Pub Serv (new). Punta Alegre. .. Pure Oil. Rand Mine: . Rap Tr Sec w.L. Ray Con Cop... Reading........ | Replogle Steel.. Rep IT & Steel.. Rep Ir & Stl ptf. Reynolds Spr... Rey Tobac (B). Royal Dutch. St Joseph Lea St L&San Sran. . St L&San Srpf. St L Southwn... San Cecll Sus. Schulte Store: Seab'd AL Df. Sears Roebuck.. Seneca Copper. . Shell Union. ... Stmms Petrol. .. Sinclalr Ofl. ... Skelly Ol1. Slons-ShefMeld. . South Pacific. ... Southern Rwy. .. Southern Ry pt.. Spicer Mfg Co. .. SLOMl of Calif. . Stand Ofl of NJ.. Steelk Tube pf. .. Stew't-Warner. Stromb'g Carb Studebaker. Submar'e Boat. Superfor Oll. ... Superior Steel. . Sweets Coof A.. Tenn Copper.... TexasCompany . Tex Guif Sulph.. Tex & P C & Ol Tide Water Ol1 Timken Bearing Tobacco P’rod. . Tobacco Prod A. Trans Cont Oil.. Twin C F. Tran.. UnionBag & P.. Union Paclfic. .. Union Pac pf. Utd Ry Inv pf. Utd Retall Strs. UsCastIrP. U S Indus Alco. U S Realty. U S Realty pt. U S Rubber. U 'S Smelt&Ret Steel. . U S Steel pf. Utah Copper. Utah Securities. Vanadium Cop. Va-Car Chem. .. Vulean Detin pf. Wabash. . - Wabash pf (A) Waldorf (new).. West Penn Co. Western Md. ... Western Md 2d.. Western Union. Westhse EI&M.. 55% Wheeling&L E 8iy White Eag Oll.. 4 i 27 ‘White Motor. 4 49% White O1 1 Wickwir " % Wilson Co B 24 Willys-Overld. . 5% Will's-Overl pf. 64 64% 64 Woolworth. 235 236 235 235 WALLACE SIGNS NEW GRAIN RULES 1% 23% 107% STAR, WASHINGTON, D. C., SATURDAY, JUNE 23, 1923 BOND QUOTATIONS SUGHTLY UPHARD Firm Tone Shown in Brief Session Today—Railroad Issues Go Higher. BY GEORGE T. HUGHES, Special Dispatch to The Sta; NEW YORK, June 23.—The bond market was firm today and in rome cases even strong. Probably this condition was due to the same influ- ences prevalling in the stock mar- ket. Returning confidence In general financial stability was very evident. In the case of the bonds of some of the less prosperous rallroads President Harding’s program of sup- porting the weak roads by combin- ing them with the strong may have been a factor, although there was a good deal of skepticism as to the actual carrying Into effect of the plan. Meanwhile such second grade issues as Missourl Pacific General 45, Western Maryland 4s and To- ledo, St. Louls and Western 4s were favored. Rallroad Issues Active. Among railroad bonds to sell high- er were Missouri, Kansas and Texas adjustment 5s, Chesapeake and Ohlo convertible 414s, Seaboard Air Line 6s and Seaboard Alr Line adjust- ments. While the Seaboard Air Line is generally classed as a weak road under present conditions, it would not take much help to raise its status. The Erie is in this same classification and, while there were 10 great changes in quotations, Erle tonds were well taken today. There was Ilttle doing in high- grade securitles. Liberty 31s were slightly higher and other United States government bonds about the same. Nor was much interest shown in_the legal rails Foreign bonds were still irregular. The new Austrian loan held around |yesterday's high. Parls, Lyon and Mediterranean 6s advanced frac- | tionally, so did Argentine 5s. Heavi- ness was stlll manifest in the Czecho- slovakia and Jugoslav 8s and in the Bolivia 8s. Utilities Picking Up. A little more interest was shown in the utilities. Hudson and incomes were substantial while t ing 5 ame. the earnings of the company, | that the refunding 5s sell {per cent basis and that they are ne: |1y five points helow the high of the | year. makes them look cheap. Third lAvenue adjustments were fairly ac- h'\'4~ and slightly higher. American | Water Works and Electric collateral | trust s sold off ionally, notwith- standing the present favorable earn- ings statement. WOMEN SHOULD DRESS UP TO THE HAIR AND EYES From the Kansas City Star. “No woman can make a mistake who dresses up to her eyes and hair.” contends a well known artist, the idea being that nature never makes a mistake in her color combinations. The hair nature provided us with goes with the color of our eyes, and both go with the complexion. In matching the hair or the eyes, however, there are a number of things to be remembered. Not every woman with brown hair should wear brown exclusively; the effect is very monotonous where the complexion is Secretary Says Regulations Will | noticeably inclined to sallowness, or Not Affect Any Legitimate Operators. By the Assoclated Press. ®©ES MOINES, lowa, June 23— Rules and regulations designed to stop circulation of false Information which affects grain peices, to prevent unfair price manipulation and to ac- quire information which will permit a study of price registrations, were signed here yesterday by Secretary of Agriculture Wallace to govern fu- ture gruin trading markets under the grain futures act. “Legitimate operators,” said the Secretary, “need have no fear of un- warranted ‘meddling’ with their business.” Under the rules, every individual firm which operates through grain markets must furnish reports to the various future trading contract mar- Kets. These reporis will be handled in_ strictest confidence, Secretary Wal- lace sald. The rules and regulations will be promulgated throvgh the United States Department of Agriculture. WOULD BUY' STOCK. Creditors’ Committee of Willys Corporation Makes New Move. NEW YORK, June 23.—The bank creditors’ committee and the cof struction and merchandise creditors’ committee of the Willys Corporation have submitted an offer to Col. Fran- cis C. Caffey, recelver for the Willys Corporation, to_purchase for $3,000, 000 a total of 739,866 of the Willy: Overland common stock. A hearing before Federal Judge Knox to con- sider the offer will be held next Fri- day. —_— ‘WHEAT PLAN FAILS. WINNIPEG, June 23.—After an all- day conference with heads of grain growers' organiations in the prairie wrovinces, the premiers of Alberta snd Saskatchewan announced that they had abandoned hope of forming & satisfactory wheat board. EXCHANGE SEAT, $80,000. NEW YORK, June 23:—The stock exchange membership of Herbert Grosbeck has been sold to Lawrence Strassburger for $90,000. Last pre- vious sale was $91,000. 'WOOL TRADING QUIET. BOSTON, June 23 (Special).—Trad- ing continued very quiet in Summer street wool market today. Firm clo ing prices In the Sydney sale were re- flected here. Confidence locally is strengthening and many wool inte: ests are prophesying a better bus! ness.than ever later on. e FOREIGN EXCHANGE. By the Associated Press. NEW YORK, June 23.—Foreign ex- changes_ irregular. Quotations_ (in United States dollars): Great Brit- ain, demand, 4.61%; cable: sixty-day Dbills on ba France, demand, .0619; c: , Italy, demand, .0449%; cables, . 3 Belgium, demand, .0528%; cables, .0529. Germany, demand, .000009%; ca- bles, .000009%. HoNand, demknd, .3918; cables, .3922. Norway, demand, .1660. Sweden, demand, .2650. Denmark, de- mand, .17.90. Switzerland, demand, .1791.° Spain, demand, .1485. Greece, demand, .0374. Poland, demand. .000009." 'Czechoslovakia, demand, .0299%. Argentina, demand, .3575. B';n’xlh demand, .10 Montreal, the eyes lack brilliancy. Notice Eyes of Others. It you will notice carefully the eves of your friends you will find that there is nearly always two dis- tinct notes of color in the eyes, either of which You can match. Gray eyes sometimes reflect blue or green, or v may have brown tints in the iris. eyes and green cyes may even have a blue circle around the edge of the iris, which blends into vellow next the pu In such cases you can match the gray-blue, the gray-green or the gray-yellow; when the gray or green eyed person wears blue-gray it makes the eves appear biue. course you know liow just the right shade of blue will enhance the co‘l’or and brilliancy of blue eves. All blue eyes have both light and dark tones in them. When they are a too light blue in color, wearing a darker shade than their actual color will make them seem a much deeper blue. Matching the Hair. Brown eyes are made up of man difterent shades of brown and yel. low. Hazel eyes may have brown and blue, brown and gray, or brown gray and yellow tints. 3 In matching the hair you must re- member that it is never of a flat, uni- form color. In the same head of hair there may be all shades, ranging from pale goid to deep brown, but all of the same tone of brown. You should try to match and bring out the lovelier colors. ere are always two ways to do this: First, by using complementary colors to heighten the effect of the natural coloring, and, second, by using colors that blend. If you have golden brown hair, for instance, you could choose violet, pur- ple blue or gray blue to accentuate the golden tints of halr by contrast, or you could select old gold and bronze shades that match the color of the hair, as it is brought out in the light or sunlight. The effect will e to make the hair appear thicker and glossier, -DPeer much Red ir Toned Down. Red hair, on the contrary, should not be emphasized, but toned down, as the hue is already vivid enough. Adl reddish shades should be avolded. but dull wood browns and golden browns'are good. Dull blues, white and various shades of gray may be chosen. Gray greens may be worn to good advantage, but bright greens will make such hair look too “flery.” Do not try to match very dark hair, but show it off by contrast. Do not match your hair or eyes if they are dull and lifeless, no matter what shade they happen to be. Re- member also in this connection that the coloring changes with the state of health, 50 that a tint or shade that is very becoming at one time may be really trying at another. Under such circumstances a readjustment of your color scheme will be necessary. Grasshoppers in Test. From the Wide World. Grasshoppers are being grown in Kansas in a study of inheritance of cattle, sheep and man. One hundred thousand grasshoppers of forty suc- ceeding generations can be raised as cheaply and quickly as 100 cattle over three generations. As the prin- ciples of inheritance appear to be the same with these Insects and the the higher animals, the scientists may make a short cut to knowledge of the more slowly breeding forms in this way. A new color glttern has appeared in one group of theso grassnoppers bein bred in the laboratory of the Kansas agricultural experiment sta- tion. This color scheme has bred true for over seven years, the charac- teristic having appeared through twenty-five generations. By cross- ing these insects with others show! ing natural color patterns still newer combinations have been obtained. But these new combination forms breed true only when kept isolated from the elemental patterns from which they ‘were derived. N NEW YORK BONDS STOCK EXCHANGE l Received by Private Wire Direct to The Star Office. (Sales are fn $1,000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 101-1 means 1011-32) . Rales. High. Low Close. 100-31 100-28 100-31 98-15 98-13 08-18 98-14 98-12 98-18 98-21 98-19 98-16 98-14 99-28 99-28 FOREIGN. Sales. Hixh. Argentine 7s...... 4 101% Austria7s wi.!..259 91% Belglum 7%s..... 4 102 Belgium 8, 1024 Bollvia 8s. 834% 87% Bordeaux 80% 80% Brazil 83 82% Brazil 8s. 96% 96% Brazil 7%s. . 101 101 Canada 5= 1926 100% 100% Canada 6%s 1929 101% 101% Canada 5s 1931 100% 100% Canaia 63 1952.... 99 99 Chile s 1946 . 101% 101% Chile s 1921 . 101% 101% Chile 851941...... 8 102% 102% Chinese Gov Ry 68 46% 46% Christiania 8; . 1109% 109% Copenhagen 5% 91 91 Cuba b¥%swi 99% 9% Czechoslovak| 9 94 Denmark 109% 109% Denmark 6; 98 98 Dutch E I5%s. 92 91% Dutch East 1 6a°'41 96 95% Dutch East I 65 '62 95% 95% French Govt 994 99% French Govt 7%: 95% 95% Hait! 6s ctf 9314 9214 Holland-Amer 83% 83% Japanese 4s. ...... 8144 811 Jergen U M 68°47. 83% B83% 83% Mexico 5s. ae 55 65 Mexico 4s. 35 35 35 Netherlands . 8 100% 100% 100% Norway 110% 110% 110% way 2 98 97 98 Orient Dev deb 6: 921 924 92% varis-Ly's-Med 6% 76 6 Prague 7%s. % 1% 1% Queensland 6s. ... 101 100% 101M Rio de Jan 85 1947. 93 93 Sao Paulo.State.8s. 99 99 Serbs Crotes Slo 85 71 0% Ud Kingm 5% 29 113% 113% Ud Kingm 54s ‘37 103% 103% Uruguay 8s. .. 103% 103% MISCELLANEOUS. Am Agr Chem 7%s 12 99% 99% Am Chaln s f 6s 91 94 Am Cotton Oi1 55.. 10 63 624 Am SmIt&R 1st 5. 90% 90% Amer Smelting 6s. 20 100% 100% Am Sugar Ref 6s.. 14 101% 101% AmT&Tev6s.... 8 116% 116 AmT& Tcltrbs.. 96% 96% AmT & Tcltr4s.. 91% 91% Anaconda cv db 7s. 61 100% 100% Anaconda 1st és Armour & Co 4%s. Atlantic Refin 5s.. Farnsdallsf 8s... Rell Tel Pa 58 reta. Beth Steel 53s'53. iseth Steel f 55. Beth Steel pm 53 Beth Steel 5 £ 6 Central Leather Cerro de Pasco § Chile Copper 6: Con Coal Md 1st 58 Cuba Cane cv d $s. Dery (DG) 7s..... Det Edison ref éa.. Diamond Mth 743 Du Puntde N 7%s. Liuquesne Light 63 E Cuba Sug 7%s.. Empirs F&G 7% Fisk Rubber Ss Gen Refractes 63.. Goodrich 614 2 Goodyear 8s 1931. Goodyear s 1941. . Humbie O&R 5%s Tilns Bell Tel Ist 5s. Inc Mer Marine 63. Int Paper 1st 55 A. Int Paper 1st 5s B. KCP &Lt 5s A'52 Liggatt & Myers 7 Lorillard (P) 5: . Magma Cop c 7s. iMarland Ol 7%s Mexican Petrol 8s. Midvale Steel 5s. .. Montana Power 58 Morris&Co 1st 4143 New Eng Tel 53. N Y Edsn 1st 634 NYG EL H&P 38 NY Tel 6541 N Y Tel 65°49.. NY Tel 4% N Am Edison 6 N States Pow b Northwst B Tel PacT & T 6s'52... PhilaCoref 63A.. Punta Alegre 7s... Sacks & Cos {7s.. Sinclair Ofl Sinclair Oil 612s w I. Sin Crude Oil 5343, 18in Crude Oil 6s.... | Sin Pipe Line 5s... | St Oil of Calit 7s. {Steel & Tube 7s Tenn Elec Pow Toledo Edn 1st 7s. Union Bag & P Gs. 96% Unit Drug cv 8 112 U'S Rub st rf 5s.. 87 U S Rubber 734 106% USSteel s £ 102% 89% 79 65 \Warner Sugar 7 101% Wickwire Spen 7s. 925 Wwilson & Co 1st 97 Wilson&Ccv 7%s, 28 95 Wilson & Cocv 6a.” 6 86% e e TREASURY CERTIFICATES, (Quotations furnished by Redmond & Co.) aw. Clowe. 101% 1% 102 A 102% - » CONNRARRNP RO D 104% 102 9414 106% Rate—Maturity. 3%s September 43(s September 15, 1 December 13, 1923 March 15, 1024 June 13, 102 September 1 March_15, June 15. 100 101410 101 5.16, 99 100 15-52 s March 15 99 13-16 s December 13, SHORT-TERM SECURITIES. (Quotations furnished by Redniond & Co.) ——Close.—— | Bid, Aluminum Co. of Amer. 103 Aluminum Co’ of Ame: 1 ‘American Cotton Oll 65 192: American Sugar 6s 1987. American Tel. & Tel. 6s 1024. ‘American Tel. & Tel. ts 1t ‘Anaconda_Copper 6s 1920. Anglo-American Ofl 73s 1925, Bell Tel. of Canada 78 1925 rthern 538 1024, tine Rwy. s 19: t 73 1031 Federal Sugar Ref. 6s 1933. Goodyear T. & R."8s 1831 Great Northern 7s 1938. Hocking Valley Os 1924 Humble Oll 548 1082. Kansas City Term, 6s Kennecott Copper 7s 1930. Libby, McNell & Libby 7s 1031 3 Bt P & 8, 8. M. 6t 1631 Morrls & Con 7348 1930. Penna. R, R. 7n 1930. 8t. Paul Union Depot &: Roebuck & Co. Tidewater Oll 6%s Unfon Tank Car 7s 1030 Rubber 734s 1930. rn_Unlon_6ls 108 Westinghouse E. & . 7 ‘WEEKLY BANK REPORT. NEW YORK, June 23.—The actual condition of clearing house banks and trust companies for the week shows an excess in reserve of $7,643, 950. This is a “decrease” of $16,819,- 580. BUTTER IS LOWER. CHICAGO, June 23.—Butter—Lower; creamery extras, 38%; standards, 38%; extra firsts, 36%a37%; firsts, 34%a35%; seconds, 33a34. ggs—Unchanged; recelpts, 25,193 cases. S 5 |StLIM&S 4s°29. !Sou Pacific ref 4s [Tol StL & W 4s 11f there is any prospect that he still RAILROADS. ‘Sales. High. Low. Closs. 5 719% T9% 79% 95% 954 95% 78 1% 18 100% 100% 100% - 9% 79% T9% 82% 82 82% 94 93% 94 64% 64 64% Canad Pac deb 4s. 8% 78% 8% Car Clinch & O 6s.. 97 97 97 Central Pacific 4s. Bi% B4% B84% Ch Ohio cv 6s. 89 88% 89 Ches & Ocv 4. . 87% 874 8T% Ches & O gn 43%s.. 83% 83% Chi & Alton 3%s. . 30% 30% Chi'B&Q gn 4s '68. 86 88 Ch: B&Q 1st rf bs. 98% 98% Chi & E 111 gn 5; 80 79% 49 49 67 67 66 66 109% 109% 30 80 7% % 90 90 102% 102% 101% 101% 4% 4% 50% 50% 58 58 50% 60% 52% 52% 104% 112% 108% aBme Chi Un Sta 4%s. .. Chi & W Ind 7%s CCC&StLrf és A Den&Rlo G con 4s. D & R G 1st rt bi Erfe 1st con 4s Erfe conv4s A. Erle conv 4s D. Gr Trunk sf db 6a Grand Trunk 7s Gr North gen s Gr North gen 5. 99% Havana ERL&P 53 % 84% Hud & Mon ref Bs. 80 Fud & Man aj 6. 5% 111 Cent ref 55 '55 99% 111 Central ref 4, 86% 111 Central 5% 101% Int Rap Tran 5: 63% Int Rap Tr 6s stpd. 63% Int R Transit 7s 88k Int & G Nor aj 61 42 Int & Gt N 1st 6s. 2 Kan City Ft S 4 a2 Kansas City S 3. Louis & Nash § Louis & Nash 7s Market Stcn §s Mil El Ry & L 5 M& St L rf ex 5 M&StListrf4s MK&T1stds.... K&TprinbsA K&T4sB..... K&T6sC. MK & T adJ 5s. Mo Pacific 6s. Mo Pacific 53 '65. Mo Pacific gn 4s... Montrl Tm 1st 5 N O Tex & M in 58 N Y Centdeb 6s... N Y Cent deb 4s. .. NYCentriSs.... w Haven c d 6s. New Haven 7s.... New Haven 7s fr.. N Y State Ry 4%, Yorfolk & W cv 63 Northern Pac 3s. Northern Pae 4 Northn Pacr 1 6 Northrn P 55 ret. Ore-Wash 1st f 43 Pennsyl gen 5s.... Pennsyl gen 4%s Pennsyl 6%s . Pennsyl gold 7s Pere Marq 1st §s.. Pere Mrq 1st 45 '56 @ - Sal wm EYN-TSSrry - - N = BrBelvelanadonnbnrwn phme Y 3 Rapid Tran 6s w1.. Reading gen 4s... 5% Rio G West cl 4s. 62% RTATk & L 4%s.. 76% 85% 674 st 667 SIL& SFplésA StL&SFprins StL &S F inc6s.. StL &S F adj 6: T4% T4Y San A & Arn P 4s 73% 73 Seab’'d A L 4s sta. 56 56 Seab'd A L ad$ 5 30% 30% Seab’d A L con 6s. 661% 65% Sou Pacific cv 4s. 91% 91 85% 85% Southern Ry 1st 63 95 95 Southern Ry gn 4s 68% 68% Southern Ry 6%3. 101% 101 Third Ave adj bs. 50% 50% 65% 68% Union Pac cv 6s. 104 104 104 Western Md 4s. 61 61 61 Western Pacific 53 80 79% 80 West Shore 1st 4s. 73 78 78 Wisconsin Cent 4s. 76 6 6 SAYS TURKEY NO PLACE FOR ANY BACHELORS From the Wide World Magazine. The lowest age at which marriage can be contracted in Turkey is fixed at eighteen. Those who at twenty have mot voluntarily marrfed are compelled to do so by the state. He who tries to get off by pretending sickness has to have himself exam- ined by a physician appointed by the government. If his state of health proves him unfit for marriage he gets a certificate that exempts him. But £l €674 may become fit he is then treated at the expense of the state and is kept under observation untii he is able to comply. He who, without sufficient reason, refuses to marry loses all civic right and has to pay the state a quar- ter of his income in order that the poor may receive dowries. The Turkish bachelor, accordingly, hecomes a disfranchised member of soclety, and only very rich people who Trenounce any position in the state can indulge in this luxury. But the solicitude of the state goes much further; it also sees to it that a hus- band does not abandon his wife by going on a journey for too long a time. In case one sefs out for a jour- ney without taking with him his wife he must have the special per- mission of the authorities. A widower must marry again, but if he has pass- ed his fiftieth year he may choose between taking a new wife or sup- porting a few orphans. Cloth Painted by Hand. From the Popular Mechanics Magazine. In the days before the printing ma- chine was invented or even until its use became general calico cloth was printed by hand by the block method. By this method the design was out- lined on the surface of a wooden block, the outlines were bounded by pieces of brass or copper, and the surface filled in with felt to hold the color, and sometimes designs of as many as three or four colors were printed by this method. When the block was completed it was dipped in a color box, and the pattern was then impressed upon_ the fabric by stamping by hand, and for each color to be printed the cloth had to be stamped by a separate operation. The work was slow and laborious and in printing even some patterns that were printed in those days it would take a man and one or two helpers a whole year to print as ‘many yards of cloth as can be printed on a modern printing machine in probably a day or a little more. Woman Rule in Pure State. From the Adventure Magazine. While in some parts of the great In- dian empire the Hindo wife is so sub- jected to her husband that she is not supposed to eat at the table with him or even look him in the face, in the province of Travancore, on the other hend, “matriarchy,” or the rule of woman, survives almost in its pure state. In marriage the woman chooses her husband_and he comes to her house to live. Until quite recently she could dismiss and divorce him whenever she .felt like it. Now, however, di- vorce is by mutual consent. 'The woman is the head of the family. She owns property in her own right. ‘When she dies her property passes on to her children, but that of her husband on his death passes on to his mother’s nearest kin. There are no child marriages in Travancore, such as prevail through- out the rest of India, where there are millions of child widows. This prov- | ince has 1léss flliteracy than any other state in India. Its people claim they are the most progressive, pros- perous and happy in all India. —_— More than 15,000 girls between six- teen and elghteen years of age work in Connecticut factorfes. FINANCIAL. LOCAL WHOLESALE MARKET. Slight fluctuations in the butter market during the week did not ma- teclally affect prices. This morning's prices were the same as the past few Gave, and dealers are unable to fore- cast the probable condition of the market the coming week. Meat prices remain high. Beef and lamb prices are exceptionally high, while the veal market is firm. Pork prices are reported as being reason- able. Egg prices were down this week, and dealers say they know of no rea- son why there should be an increase in the next few days. Hot weather has not materially af- fected the early summer vegetable market, with the exception of peas, and fruits from distant points are plentiful, Egge—Strictly fresh, selected, can- dled, per dozen, 25; average receipts, 23; southern, 22. Live poultry—Roosters, per Ib., 12a 13; turkeys, per 1b., 25: spring chick- ens, per Ib., 45a55; keats, young, each, 10; fowls, per Ib., 23. Dressed poultry — Fresh - killed spring chickens, per Ib.. 50a60; win- ter chickens, per Ib., hens, per 1b., 28; roosters, per ib., 30.; turkeys, per Ib, 35a40; Keats, young, each, 70a20. Live stock--Calves, choice, per lb., 10; medium, per Ib., 9a9%: thin, per ib/, 6a7. Lambe, spring, per Ib., 14; 5.00 each: live hogs, per Green fruits—Apples, per bbl, 4.00 @9.00. California oranges, per crate, 5.0026.50; Florida, 5.50a7.00. Lemons, per box, 9.00a9.50. Grapefruit, 4.00a 5.00. Strawberries, per qt., 5als. Black- berries, per qt., 6a20. Peaches, 4.00a4.50. Cantaloupes, standard, 4.50a4.76; pony, 3.5004.00; flats, 1.75a2.00. Vegetables—Potatoes, per bbl, No. 1, 3.50a2.00; per sack, 2.00a2.75; new potatoes, per bbl, No. 1, 4.00a5.50; No. 2, 1.00a2.50; sweet potatoes, North Carolina, 2.50a3.00; nearby, 1.00a3.00. Lettuce, per crate, nearby, 5a Romaine lettuce, per crate, 75a Cabbage, nearby, 1.00a1.75 per Eggplant, per crate, 2.00a3.50. Tomatoes, per box, Florida, 2.00a6.0 Beans, 1.50a2.00 per basket. Peas, 2.00a 3.00 per basket. Peppers, per crate, Florida, 2.50a5.00. Kale, per barrel, 75a1.50. Spinach, per barrel, 1.00a 2.60." Celery, per crate, Florida, 2.00a 6.00. Squash, 1.50s3.00. Florida lima beans, 4.00a7.00 per basket. gus, 1.0024.06. GRAIN AND PROVISIONS. BALTIMORE, Md., June 23 (Spe- cial).—Potatoes, new, bbl., 1.50a4.50; cld, 100 Ibs, 75a1.75; 150 Ibs, 1.00a 2.25. Asparagus, doz., 1.00a3.00; beans, bushel, 75a1.25; beets, 100, 4.00a6.00; cabbage, basket, 125a150; carrots, 100, 4.0026.00; corn, crate, 1.50a3.00; cucumbers, basket, 75al.5 egB- plants, crate, 2.00a3 ettuce, bushel, 75a1.50; kale, bushel, 40a50; onlons, 100 1bs.. 1.5044.25; spring onlons, 10 1.25a1.50; rhubarb. 100, 2.00a3.00; peas, bushel, 2.00a3.00; _spinach, bushel, 50a1.00; squash, basket, 1.00; tomatoes, crate, 1.75a4.50; blackber- ries, ot, 12a20; cantaloupes, crate, 40a4.00; cherries, 1b., 6al8; grape- fruit, 'box, 2.50a4.00; gooseberries, 1b., €a8; huckleberries qt.. 25a30; oranges, box, 4.00a7.00; peaches, crate, 1.5083.00; pineapples, crate, 3.00a4.00; raspberrics, pt. $al0; strawberrie: at., 10a20; watermelons, each, 20a50. Selling Prices at 12:15. Wheat—No. 1 red winter, spot, no quotations; No. 2 red winter, spot, 1.19; No. 3 red winter, spot, no quo- tations 2 red winter, garlicky, no quotation; No. 3 red winter, garlicky, spot, no quotations; June wheat, no quotations. Sales—Bag lot of nearby new wheat at 1.25 per bushel. Corn—Cob, contact, spot, corn, 85%: No. 4, no quotations; corn, yellow, No. 2 or better, 1.01 and 1.02 per bushel. Sales—None. vhite, No. 2, 52% and 53 per per bushel. Yy, 70a75 per bushel; No. 2, western export, spot, 75; No. 3, no quotations. Hay—Receipts, 44 tons; for better description of timothy and light- mixed hay there is a steady demand right along at a range of 19.00 to 20.00 per ton. on daily receipts is not large. dium and low grades are supply at regular prices. ).~ 1 tangled rve, 15.00a 16.00; No. 1 wheat, 12.50a13.00; No, 1 oat, nominal, 14.00a15.00. The percentage of good hay Me- in full TODAY'S CHICAGO PRICES. CHICAGO. June 23.—Wheat soon took a decided down turn in price today, although at first affected bull- ishly Ly reports that prospects of abundant crops in Europe had been destroved by unfavorable weather. Word of rains in the domestic spring crop belt, however, dispelling fears of drought damage, proved more than an offset in favor of the bear side of the market. Besides, harvest weather in the southwest continued to im- prove. Opening prices, which ranged from 3% cent decline to % cent ad- vance, with September 1.053¢ to 1.05% and December 107% to 107%, were followed by moderate general gains and then by a sharp setback to well below yesterday's finish. Corn and oats paralleled the action of wheat. After opening unchanged to % cent oft—September, 79% to §0—the corn market scored some- thing of an advance and then under- went a material sag. Oats started unchanged to % cent higher—September, 37%—ascended a little and reacted. Provisions were steady in line with hog values. » DAIRY PRODUCTS. BALTIMORE, Md., June 23 cial).—Live poultry pound, small and Leghorns, 30a40; old hens, 21a25; Leghorns, 18a20; old roosters, 13al14; ducks, 16a 20; spring ducks, 28a30; pigeons, palr, 30. Egegs (loss off)—Native and nearby firsts, dozen, 23; southern, 20a21. Butter—Creamery, good to fancy, 37a41; prints, 42a43; nearby creamer: 35a49; ladles, 34a35; rolls, store-packed, 29a30; dairy prints, 30a32. CHICAGO LIVE STOCK MARKET. CHICAGO, June 23 (United States Department’ of Agriculture).——Cattle recelpts, 500 head; compared week ago better grades beef steers, year- 1ings, beef cows and heifers, stock- ers and feeders, strong to 26c highe lower grades beef steers and yea lings, largely 25c to 40c lower; lower grades fat cows, canners and cutters, unevenly 50c to 75c lower; spots off more on grassy cows; bulls, 15¢ to 25¢ lower; veal calves, 25¢ to 60c lower; extreme top matured steers, 115 best long vearlings, 11.40; week's bulk prices follow: Beef steers and yearlings, 10.165a10.75; stockers and feeders, 6.35a7.75; beef cows and heif- ers, 5.36a8.75: canners amd cutters, 2.60a3.75; veal calves, 8.50a10.00. Sheep—Receipts, 4,000 head; practi- cally all direct; for week over 50 per cent direct to packers; compared week ago, top lambs, 1.00 lower; lower grades around 2.00 lower; some culls oft more; fat handyweight ewes, 50c higher; heavy and aged wethers, un- changed; closing top lambs, 16.50; bulk good lambs, 15.00; culls mostly, 9.0 top handy fat ewes, 7.00; bulk e treme heavies, 3.50a4.00. Hogs—Receipts, 8,000 head; better grades, fairly active, steady to’ strong; o"™a:s, slow; spots, weak; bulk, good to cholce, 175 to 300 pound averages, 7.30a7.40; top, 7.45; packing sows mostly, 6.00a6.35; bulk, desirable strong welght pigs, 6.75a7.00; estimated holdover, 3,000; 'heavywelght hogs, 6.90a7.40; medium, 7.00a7.45; light, 7.00a7.40; light light, 6.75a7.30; pac! ing sows, smooth, 6.00a6.50; packing sows, rough, 5.75a6.15; killing pigs, 5.75a7.00. NEW YORK DAIRY PRICES. NEW YORK, June 23.—Butter — Weak: receipts, 9,412 packages: creamery_extras (92 score), 38%a39. Eggs—Irregular; receipts, 20,240 cases; Pacific coast whites, firsts to extra firsts, 29%a35. Cheese—Unmisettled; reoeipts, 232,308 pounds. Aspara-. i, Frotcs o ANKERS DI RIGHT TO BRANCHES Situation in District Outlined at Convention in Hot Springs. Special Dispateh to The Star. HOT SPRINGS, Va., June 23.—One of the most Interesting sessions of the convention of the District Ban ers’ Assoclation, was held this mo ing, when five prize-winning ess: on branch banking, by members the Washington Chapter, Amerl, Institute of Banking, were read. Tha subject, which Is at present a source of discontent in the District bank- ing fleld, was covered from every 8le, three of the authors favoring the right to operate branches, the re- mainder opposing. Joseph D. Yerkes, Federal-A can National Bank. which operate no branches, voiced the opinion many when he declared: “The fail- ure to permit national banks to e lish branches within the cities in which they are located is llable to produce very beneflcial resuits.” Factor of Reserves. Likewise, W. E. Polls of the Wash- ington M vings Bank de clared: “One of the most vital f. tors in our banking system fs t of reserves. Our present reserve re- quirements are worked out to meet the needs of an independent banking system and do not contemplate u branch banking system. Will a net work of branch banks undermine or render less mobile the reserve pow- €rs 50 necessary in preserving and stabilizing our banking system? It will, especially in times of financial stress.” On the other hand, Robert C. Dan fels of the Commercial National Ba aligned himself with the movem. stating: “As a manifestation of su', stantial progress in the fleld of bank- ing branch banking may well be commended. The purpose of the es tablishment of branch banks Is to vrovide the public with more con- venient banking facilities, multiply the places of business and therehy increase the volume of same. Ths idea is in keeping with the advanced progress made in other lines of com- me;c!al enterprise. Expansion has come abou ¥ through the demand for jto = T8 J. William Roberts of the American Security and Trust Company, which maintains several branches, goes a Dbit farther, and predicts it has come to stay. 2 e says: *Branch banking, cne o the chief topics of discnssion by the bankers of today throughout the United States, has been tested on its merits by numbers of our larger Washington banks, with the result that it has come to stay, owing to the change of conditions and tha complete ~ satisfaction obtained through their us Fleld fn Washington. Perhaps the strongest argument for branch banking by national Institu- tions was presented by Garrett M Van Hoesen of the Second National Bank, which operates a branch. Ly 2 presentation of facts as they exist in Washington. He says: “There are two banks in the District of Colun bia that are far ahead of all others in the operation” of branches. Or is a national bank and the other a trust company. Taking these two as examples of their class, one can sec at a glance the havoc that would be wrought if national banks were for- bidden to operate branches. “The national bank would loi much of its business, as It could re- tain only its main officc. The trust company would get most of it as it could operate branches in the com- munities in which the national bank had its branches. The success thls one-branch operating bank would en- joy would draw others Into the fleld These trust companies and savings banks, each operating one or more branches, would soon outstrip their national bank competitors, who are not allowed to operate more than one place of busine SAIL STILL HOLDS ITS OWN. Many of Our Modern Schooners Bigger Than 01d Clipper Ships. John T. Rowland, in the Outlook, A fair-sized coasting schooner of today—say the average four-master— is a blgger ship than were most of the famous clippers which raced to China and the Straits half a century ago and caused such a wonderful furor in the maritime world of their day. Indeed, some of our modern five-masters would make all but two or three of the clipper ships look small. Take, for instance, one of the hig coal carriers with a cargo of 2,500 tons: you will have to search quite a while ‘through the roster of the clip- pers to match her. Only a few, li the Sovereign of the Seas and the Great Republic, were larger, and these are matched or exceeded by the few six-masted schooners of today. In speed the comparison is favorable to the schooner. The steam- ship has pre-empted fast freight well as mail and passenger service, with the result that the modern sail ing ship makes no bid for speed. Her specfalty is to carry bulk cargoes at low cost. Still, many of the big wind-jam- mers of today havec fair lines “where they count most”—that is, at bow and stern—and can log twelve knots in a whole-sall breeze. When one reflects that the cargo carried is probabiy twice that which could have been put aboard a clipper ship of the same general dimensions, the sacrifice of two or three miles per hour in speed does not seem a great loss. Unques- tionably the schooner is the more ef- ficient carrier. Declares “Pin Money” Has Real Legal Meaning. From the Adventure Magazine. Pin-money, though used common!y as a general term for the occasional extras that a husband chooses to give his wife, has as well a perfectly defin- ite legal meaning. The expression originated as long ago as the four- teenth century, when metal pins a novelty in England were not onl extremely costly, but were allowed be sold only on certain days of tho year. Among rich people, therefore, these luxuries were looked upon as of great importance, and lawyers in drawing up a marriage settlement would specially refer to the sum that the lady was to be allowed yearly for dress and pin-money, as opposed to what she might be given to epénd on her husband’s household. The term is still used in English law, where “pin-money,” if properly secured by settlement, is not llabla to seizure for a husband's debts. A wife, moreover, may legally save her pin-money, whereas she may not save her housekeeping allowance. He Didn’t Know It. ¥From the Boston Globe. Verbosity and the “grand manner* will sometimes accomplish marvels. An elderly English actor with stately bearing, a melodious voice, went for a holiday to Sunderland. Fishing ono day in a forbidden stream he was accosted by the keep- er, who asked him by what right he dared to wield the rod and line in private grounds. “By what right?” answered the melodramatic one. “By that great right the vast and towering mind has o'er instinct of the vulgar kind." The keeper stared at him for a moment, then touched his cap and said: “Beg pardon, sir, I dlan’t know at —_— In far-off Papua, native women re- celve a bonus when they become the mother of four or more children. v/