Evening Star Newspaper, July 7, 1923, Page 18

L3 BRISK ADVANGES IN STOCK MARKET Prices Firm in Face of Raid on Delaware and Hudson. By the Associated Press. NEW YORK, July 7.—Stock prices displayed a strong undertone in to- day’s brief and quiet session in the face of another attempt to unsettle the list by depressing Delaware and Hudson to 83%, & new low since 1921 " on unfavorable dividend rumors. The s nty supply of numerous sbares desired by short interests for covering operations, resulted in some brisk gains and confirmed impressions that such sections of the market had been temporarily oversold. Prac cally all of the active issues reg tered material gains with du Pont FINANCIAL, Air Reduction. Ajax Rubber Allled Chem. Allis Chalmers. Am Beet Sugar. Am Bosch Am Can. . Am Canpf.... Am Car & Fdy. Am Druggist Am Ice. .. Am Internal Am Linsedd. ... Am Locomotive. Am Loco (new). Am Safe Ruzor. AmShip Com. Am Smelting Am Smelt pf. Am Snufr. Am Steel Fdy Am Sumatra. . Am Tel & Teleg. Am Tobacco. Am W W 6% pt. Am Woolen Am Woolen pf Am Wool pf f pd Anaconda. .. ... Asso D Goads Atchison. Atlan Cst Lin Atlantic Fruit. | rising 3%, Canadian Pacitic, 3%; General fack Truck, 3. and Famous Players, Chandler Mo- tors and a number of others, 1 to 1'% points. Delaware and Hudson rallied to 96 in the last half hour. The closing was strong. s approximated ,000 shares. BEARS HURRY TO COVER. Price Averages Leave Off Higher Than Week Ago. BY STUART P, WEST. Dispatch to The St » YORK, Jul for the better in the stock market situation was stiil more forcibly ex- emplified today. Prices began about where they left off Friday and for a half hour or so did no more than hold steady. But when the market posi- tion "had _aga been tested by another drive inst Delaware and Hudson and a similar offering down of one or two other stocks and it had been found that no further liquida- tion was to be brought out, the shorts set about buying in their con- tracts with considerable urgency. Studebaker jumped over 2 points from its low of the first hour, and Baldwin Locomotive: about the same. Kennecott Copper drew across 34 and Anaconda drew well up to 40. The copper stocks had evidently discount- ed any unfavorable impre that might have been made by reports of further price-cutting. In some of the specialties the bears had still greater difficulty in cover- ing. Thig was true of Dupont. of Chandler Motors and of Mack Truck. Price Averages Gain. It was particularly worthy of note that the price average should have Jeft off substantially higher than it was a4 week ago. It is to be hoped that this means that Wall street ha returned to a state of mind where it is no longer upset by wild predic- tions and where it is looking sane at the facts of the uation, Business men have adopted an ultra- <cautious policy in buying for imme- diate requirements only. This is by Mo means a bad sign. Tt has involved u shrinkage in in- eoming orders and a moderate reces- slon in prices. Ultimately, when the huge bookings of the first quarter are worked off. production in steel and other lines will come down. But this 18 no more than has been expected all along by those who took the sensible | .view that business could not main- “tain the pace of February and March, . but that the last half year ought to ®ee fair activity in the industrial - world, accompanied by a reasonable profit margin Wall Street Features. The street now looks for an an- nouncement to the cffect that Cali- i fornia Petroleum has secured a con- tract for the sale of its full output at @ fixed price in the statement of the !company, which is expected Ssoon There is'likely to be something sald ‘mbout future earnings, and the belief is that the indicated net income of $7 per share for 1823 will be fairly well assured under the terms of the projected contract. It is reported that a considerable amount of Chile Copper stock has been taken out of the market in re- cent months and in one quarter the statement s made that perhaps no other stock has been accumulated on such a le during the recent | break. Chile Copper's operations are understood to be going ahead at a satisfactory pace and the shipments | of copper from South American | mines of this company are yielding &n excellent profit. he change Market Flashes at Today’s Close The market closed strong, %o the best of the day. Railway Blocks were especially prominent in the trgding at the end. Union Pa- cific got above 130, nadian Pa- elfic was up nearly 7 points. from where it was selling early in the week. New York Central crossed 9§ and Baltimore and Ohio 15 well up clearings York bank Fe 000,000, Bos- ton More than 13 distribute than in bank ¢ 000 tons less sugar| in_the first half of srresponding period ng to the indi- Federal Sugar Refin- in its review of the in- Retiners’ meltings during the months of this vear totaled tons. equal in refined sugari 45 tons, as compared with tons last With ex- 000 ton, mated) this inst 1 tons last balance for domestic trade in 045 tons, as compared tons last vear. NEW YORK DAIRY PRICES. NEW YORK, steady. receipts, 12 tubs. Eggs firm, receipts, 29,216 cases. Pacific | coast whites, firsts to extra firsts, 33 | @381y, Cheese irregular, receipts, 50,974 pounds. CLEARING HOUSE REPORT. N YORK, July 7.—The actual condition of clearing house banks and™trust. companles for the week (five days) shows an excess in re- ‘serve of $5.794,230. The reserve de- creased $6,600,890. AUCTION DATES FIXED. Auction of oil and gas leases upon 738 ucres of public land in the Ferry Lake district of Louisiana will be held August 28 at Shreveport, La. cated tigures of the ing Company dustry first six 2,484, 10 2 2,666,125 vorts of Year, year. 392 Butter Atl Fruit ctfs. Atlantic Gulf Atlantic Ref. Atlas Powder (n Austin Nichols. . Baldwin Loco.. Baldwin Loc p Balto & Ohlo. Barnesdall (B) Bayuk Bros Beechnut Pacl Beth Steel Beth Stl 7% (n) . Br Em Stl 2d pf. Bklyn Edison. Bklyn Rap Tran Bkiyn R war 2d. Brunswk Term. Burns Bros (A). Burns Bros (B). Butte Copper. .. Butte & Super. Butterick. . Caddo Oil. Calif Pack. Calif Petrol Callahan Zinc. Canadian Pac. Central Leath. Cent Leath pf. Century Rib Mi Cerro de Pasco Chandler Mot Chesap & Ohlo. Chi & Alton Chi & E 111 pt Ch! Mil & St P. Chi Mil &St P pt. Chi & Northwn. Chi Pneu Tool. . ChiRI & Pac Chi R1&P6% pf. Chi R I&P 7% pt Chile Copper. . Chino Copper Cluett Peabody. Coca-Cola. .. Colo & South. Columbia Gas. Col Gas (new) . Columbia. uravll Comp Tabulat. Cons Cigar. Cons Gas of NY. Cons Textile. Cont Can. Continental Mot Corn Product: Corn Prod pf. Cosden & Co.... Crucible Steel . Cuban-Am Sug. Cuba Cane Sug Cubn. Cane S p? Cuban Dom'can. Cuyamel Fruit. DavitaonChm. De Beers....... Del & Hudson. D Lack & West. Detroit Edison. Dome Mines Douglas Corpn. Dupont (EI)... Dupont deb. Eastman Kodak Elec Stor Ba: Elk Horn Coal. . Endicott-John. . Endicott-J pf Erle... Erie 1st pf Erle 2d ptf.. Famous Players Famous Play pf. Fisk Rubber. Fleishman. Foundatlon Co. . Freeport Texa Gen Asphalt Gen Electric. &Cn Motors. Gen Mot 6% deb. Goldwin Corp Goodrich. Goodrich pf . Gt Northern pf. Great Nor Ore Gruna-(:nmn, % Guantana Sug. Gulf M & Nor pt. Gulf St Steel. Hartman Corp. . Hayes Wheel. .. Househ'd Prod. . Houston Oil..... Hudson Motors. Hydraulic Stl. .. Illinois Central. Inland Steel. ... Tuland Steel pf. Iuspiration..... interb Rap Tr.. In Ag Chemical. In Ag Chem pf. . Int Cement. In Combust 1 nt Harvester 1ut Mer Marine. Int M Marine pf. Int Nickel. . . Tnt D kel pf.. Int Shoe. . Invineible Oil Island Oil. Jones Tefl. . 118 L1178 Open. High. Low. Close. 60 ™% 664 40 32 1% 87% 62 . 108% 168 d's 90% 18% 20 183% 67 b4 10% 66% 94% 130 83 19% 121% . 142% 56% 83% . 100% 101% 39 8% 98% 114 1% 1% 104 109 54 177 .18 110 i 10 51 69 45% 874 18% Iflg‘i 17% 1% 121 25% ‘4 69% 9% 254 181 €0 7615 275 243 31% K 0% 23 60% T “y % - 119 ur 89 64 26% 11 3 % 55% 34% 23 96% 13 102 1 120% 17 40 648 27% 11% 44% 4% 118% 102 844 13% 116% 8¢ 104 55% 13% 651y 115 11% 18% 18% 73 924 8ls 41% 11% 18% 13% 71 92% 8% 41% 67 67 10% 10% 27% 29 175 1315 81% 4% 24% 81 64% 1% 1% 109 109 33% 334 98 98 28 28% 104 11% 2% 2% 8% 84 34 34 20% 20% 3 8% 5% 6% 23% 28% 1% 124 80 80 65 65 9% 9% » 56% 60 % 66 40 82 31% 8T 108% 1 166 4% 20% 18% 20 133% 67 Bl Nk 56% 94% 180 32% 19% 121% 142% 56% £3% 100% 101% 39 T8% 98%, 114 1% 1% 10'% 109 64 17% nm% 110 4% 10 51 59 45% 87 187% 106% 1 1% iy % 121 25% 6% 20 14 9% 20 6% 144 20 52% 30 38% 49% 59% 21 4% 19 31% 0% 8% 24 691 9% 6% 18% 68 6% 274 943 81% % 0% 23 59% % 45 % 119 17 39 64 26% 11 43 4% L1 844 23 98% 118 102 33% 13% 113 84 104 55% 18% 85 115 1% 18% 13% 71 92% 8% 41 67 10% 27% 73 13% 81t 4% 24% 81 64% 264 21 6% 12 50 2% 817% 321 30% 52 22 1% 109 3% 98 28 10% 2% 8% 84 20% 8 54 28% 1% 80 65 % ) 563 Jones & L'gh pf. 101% 107% 107% Kansas City 8. . Kansas C So pf.. Kayser (Julius) Kelly-Spr Tire. Kennecott. . Keystone Tire. . Laclede Gas. ... L E& W pf ctfs. Lehigh Valley. . Lima Locomo Loews Inc Loose-Wile: Lorillard (P) Lorillard pf {Louts & Nash Mackay Cos pf.. Mack Trucks. .. Magma Copper Mallinson & Co. Man Elev scrip. Manila El Corp. Marland Oil.,.. Mathison Alkili, Maxwell (A). Maxwell (B)... May Dp Store: McIntyre Por Mex Seaboard. Title to the tract was recently ob- tained by the government as a re- sult of court action. BAR SILVER QUOTATIONS. LONDON, July 7.—Bar silver, 31%d per ounce. Money, 2! per cent. Dis- t rates, short bills. 314a31% per Three months' bills, 3%a3% per V' YORK. July 31 ; Mexican dolla FIRM 'TONE IN WOOL. BOSTON, July 7 (Special).—The wool market showed few changes in prices toduy, but while transactions ‘were small they were regarded by somo traders in the light of efforts of manufacturers to feel out the market, especially for fine wools. Th lone was firm. Bar silver, Mex Seabd ctf: Miami Copper. Middle St Oil. Midvale Steel Minn & StL (n). Min St P &SSM. . Mo Kan & Tex. Mo K & Tex pf. Mo Pacific Mo Pacific Montg'y Ward. Moon Motors. .. Mother Lode. . Mullins Body... Nat Biscuit,.... Natl Biscuit pf. . Nat Cloak & 8 pt Natl Enamel.... Natl Ry of M 2d. Nevada Copper. Nor & ] N Y Alr Brake. . . 154 17% 51 30% 84 4% 4% 8% % 58% 81% 16% 37 154 113 90% 65% 8% 20% 4% 5% 80% 15 36% 113 90 66% k43 40K 404 120 120 94% 94% 57% 57% 3 8 11% 11% Maz. 88% 85% "% 17% b1 31 334 T 88% 4 I!O 62 % 7% 40 2% 814 88 l 08! % ! North Am | NYNH&Hartfd. 18- : ; : ' THE EVENING STAR, WASHINGTON, D. . SATURDAY JULY 7, 1923, m NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. Hij 975 9 6% T6% 94 9 81 91 10% 1:% 9 - 108% 1043 20% 20% 43% 434 66% 67% 8 8 17 50% 42% 5% 8 33% 12% 60 56% 43 34 874 10 42% 63 43% 27% % 597 44 54 36 46% 15 52% 19% 9% 10% T3 201, 15% 44y 88 21% 610 45% 18% 387 29% 56% 98 2% 7 N Y Central..... NYC&StLwi. NY C&StL pt wi NY C&StL 2 ctfs N Y Shipbld Norf & W, North Am pf. North Pacific. Nunnally Co Orpheum Clreuit Otis Steel pt..... Owens Bottle. .. Pac Gas & Elec. Paclfic Mall..... PacificOll...... Packard Motor. Pan-Am Pete. .. Pan-Am P (B).. Pennsylvania Penn Seabd People's G Peoria & East Pere Marquette. Pere Marg pf. .. Philadelphla Co Phillips Pete. Pierce-Arrow Pitts Coal.. Pltts & W Va. Pressed Stl Car. Produc & Ref... Pub Servic Pullman Co. Punta Alegre. Pure Oil. Rapid Tran Sec. Ray Con Copper Rexding. . - Remington. Replogle Steel. Rep It & Steel. . Rep Ir & StI pf.. Reynolds Spr. .. Rey Tobac (Bl. Royal Dutch. St L & San Fran St L&San ¥r pf. 8t L Southwn... St L South pf. Schulte Stores. . Sears Roebuck.. Seneca Copper. . Shattuck-Ariz.. Shell Tr & Tran. Shell Unfon. Sinelalr Ofl. Sinclair pf. Skelly Oil. South Pacifle. .. Southern Rwy. . Southern Ry pf. St Of1 of Calif. .. Stand Ofl of N J. StOflof NJpf.. Steel & Tube pf. Sterling Prod... Stewart-Warner Strombg Carb. Studebaker. Submarine Bt Tenn Copper Texas Company. Tex Gulf Sulph. Tex & PC & Oll. Timken Bearing Tobacco Prod. Tobacco Prod A. Tobacco Pro pf. Tol St L&W pf.. Trans Cont Oil. . Twin C R Tran. Union Pacific. Union Pac pf. United Drug Utd Ry Inv pf... Utd Retail Strs. 73 U SCastIPipe.. 22 United Fruit. ... 165 U S Hoftman M.. 15% U S Indus Alco.. 47% U S Realt! €91 U S Realty pf. 99 U S Rubber.. .4 U S Smelt&Ref,. 23 U S Steel. . 9% U S Steel pf..... 118 Utah Copper.... b7% Utah Securities. 15% Vanadium Corp. 28% Va-C Cham (B). 44 Vivadou. . 16% Wabash n! (A). 27% Waldort (new). 17 ‘West Elec pf. 112% Western Md. 10 Western Md. 2d. 181 ‘West Pacific.... 16 Westhse EI&M. 54k Wheeling&LE. 7 White Eag Oil.. 24% White Motor 46% White Ofl. 1% Wickwire. % Wilson Co. 2115 Willys-Overid.. 6 Willys-Overl pf. 63 ‘Woolworth. . 230 Worthington... 231 23% 66% 664 Youngstn Tube. HOURLY SALES OF STOCKS. 11am.....161300 12m —_— BRADSTREET’S REVIEW NOTES QUIET TRADE By the Associated Press. NEW YORK, July Review today sa: Quiet, in part seasonal, and in part the result of desire to adequately welgh up conditions as they present themselves at the turn of the vear, has overspread the trade and indus. trial situation this week. Retai trade, under the stimulus of holiday preparations, has been fair to good, and the current pace of Industry is still remarkably active, largely on old orders, while trade in primary lines has been on the quiet side, though fully fair, with, however, mora cau- tion displayed than in any other lin Collections still drag. but crop re- ports apparently indicate a holding of all the gains made in June and the preponderance of opinion favoring better out-turns in the earlier planted crops than seemed possihle a while ntiment as to the future ed with, if anything. a pre- ponderance of opinion among bankers and business men on the favorable side. but with speculative interasts inclined to take a less optimistic view of various matters. JUNE RETAIL SALES SHOWED GOOD GAIN NEW YORK, July 7.—Early re- turns to the S Barometer of the National Retall Dry Goods Associ- ation covering sales in June indicate that a satisfactory increase was made compared with ~the corresponding month last year. Out of 100 cards received from nearby cities only six noted declines. The complete report will be available next weck. Members of the assoclation, com- prising 2.000 representative 'stores hroughout the country, report on sales each month to the controllers' congress division, the color of the card sent indicating whether sales increased, declined or remained the same compared with the similar month in the previous year e CLOTH SALES LIGHT. Startling Drop in Dry Goods Trade Activity. FALL RIVER, Mass, July 7.—Fall River’'s print cloth sales for this week are estimated at only 45,000 pieces. This compares with nor- mally per week when prices are right and dry goods trade is actlve and the apacity production of the Fall River mllll!( of about 360,000 pieces per week. BANK ADDS TO CAPITAL. WESTMINSTER, Md., July_7.—The Farmers and Mechanics’ National Bank of Westminster has been granted authority by the controller of the currency to increase its cap- ital, whereby the bank now has a capital stock of $100,000 and a sur- plus fund of $150,000. Flve thousand shares of stock, of a ir value of 'u. have bnu 14 at ;_l ‘per share, fiqfl-n. ven, to the uu to oll ahare] 16% 50% 2% %% 8 33 12% 594 B4% 34 B4 87% 10 424% 63 42% 26% % 59 4“4 54 35 46 . 116 b2 19% 9% 10% 1% 29% 14% 43% 88 20 61% 4% 18% 387 28% 56% 42% 56% 104 367 49% 8% 108% 129% T4 76 32 230 23% 643 6.—Bradstreet's i | 90600 a8 8y | HGHGRADEBONDS == ~ore BON DS s e i Peoce FIRM IN MARKET Some Buying in Liberty Is- sues—New Secuntles Cause Complaml BY GEORGE T. HUGHES. NEW YORK. July 7.—The bond market today showed the same char- acteristics as for the past few days. High grade securities were relative- Iy firm and there was some buying of United States government bonds. The market, however, was not ac- tive and investors showed no anxlety to follow prices up. Speculative rai! moved irregularly with recovery in some {ssues and further fractional losses In others. There was little change in the foreign list. Except for a fractional advance in Paris, Lyon, and Mediterranean 6s there was little worthy of comment. Complain Over New Issues. Dealers and traders continued to complain of the situation brought about by the flood of new securities. They point out that despite the di turbances in the security market cor- porate financing during the month of June reached the total of $324,131,825, against $249,658,000 in May. It is not surprising, they argue, that old and seasoned issues have not been able to stand up in the face of this competi- tion. Not until there has been some further readjustment n stability be attained, they believe. Eventually the prime investment sues ought to be in demand, particularly if there is no great incréase ju business activity. Due to the holiday there was a let- up in the olitput of new offerings this week. The total was $54,046,111, and of this amount $40,000,000 was in the Youngstown Sheet _and Tube 6 per cent debentures The balance was made up of $3,250.000 in three public utility issues, $1,500,000 in two land Lank” offerings and the rest in state and municipal descriptions. Poor Reinvestment Demand. One notable feature of the week was the absence of what used to be called the July reinvestment demand. It is mot entirely plain whether in- vestors have been discouraged by the reactionary tone of the market or whether the income tax has diverted %0 much capital to tax-exempt securi- tie that the demand for old line bonds which used to show itself twice vear, in January and July no longer exists. Probably both causes have been Gherating.” At the same time iere been little or no - tional buying. Pt Speculatively speaking. of the week was the declin ing almost to collanse, bouds, following the committee appolnted England governors to of the entire New E situation, Troukle With New Haven. Thig committee advises a readjust ment of the New Haven c.rfi?ujllu» i The trouble seems to be not earnings, but the fact that W Haven has still to write off ©of its unprofitable investments, In New Haven bonds or less effect on other "bonds have o . ha d - well in view of the nems hroad. Offerings have been taken and. the net result is anly amant Tose issues losses in the most active the feature . amount, in New Haven report of the by the New make a survey ngland railroad more lative —_— FEAR OF COMPETITION FACTOR IN PRICE CUTS Associated Press cayEW YORK. July 7.—The Ameri- Ve smelting and Refining Company yeste: announced the second price cut of a week in le. 2 price from 6.50 l"r e ducins the The cut made e of £ K the { Marland Of1 8s '31. _— SOUTHERN'S EARNINGS UP. RICH) of the -»ulh--rn I'A”\la\ Ulv‘“murlh week of June were § D an increase of $4 5 G fine orresponding week SE1e onth of Jun $16,517.011, an cnor»i.f:.?"s'f'o.“fi'oe and from January 1, $98,726,998. ap increase of $16,702,074. CHARM. Writer Tell: How Some Girls Change Their Lives, Cella Caroline Cole, in the Delineator, Nothing simplifies life like A woman 15 & perfect goons tol Shimg that cultivating charm is rather silly. vain business. We'd like to tell her a few things we've seen cultivated charm do. ~ We know one girl who changed her whole life by learning simply to =tand and to s t down pre erly. She was rather a heavy-looking person—trightful 00, that irl—and she alw sfood sort of umped down in herself, restin her tummy, and she walked as | pushed hergelf along: her tummy leading the way And whenever she sat down. she sat in ‘that B Boas was full o watens: but It didnt have cven et charm: and the consciousness that she a rather unimportant, un- desired person colored her really good mind and she became just a dull, neglected young thing of twenty-odd. Then somebody got her 1o do rhythmics, and the next tima we saw her ‘'she had sprung alive all over. She walked as if the ground were just something she chose fo touch; she had always been big, and How she was %0 vital and Sweepingle beautiful in line and movement that we could think of nothing but the “Winged Vietory.” Utterly = gone was the lumpishness—mind and body. When she started to sit down, we held our breath. Glory be to ali the blessed saints. she'd learmed it! The fascination that lies in sitting at ease, relaxed. but gracefully relaxed—the s0ft, flowing line from shoulder to toe, the arms not folded across the tummy or breast, but resting on the arms of the chair or the .seat of the chair, loose and lovely or folded in the iap, the feet or legs crossed, Practice it a little, sitting down and making lovely resiful lines of your- self. Release everybody -who looks at you by being delightfully released yourseif. Could or Couldn't. From Life. The doctor on his round of golf was crossing the field with his small negro caddie, when the latter opened the conversation with, “Doctor, ain't you rm some. shoes up vonder in yo' cker you don’t want? I needs some Ml.yh@ s0,” sald the dou.or "What size do, you w ar?” T dne aun eaiive el naven bought non dat-er-way—I either kin git In ‘em, or I cain Glad to Get Hat Ba From the Boston Tranteript. The man who has just received l ON NEW YO RK BONDS srocx wrcmarce ] Received by Private Wire Direct to The Star Office. UNITED STATES BOND! (Fractions - represent Example: 101-1 me Sales. High. Low. Lib3ys Lib 1st 4%s. . Lib2d 4%s Lib3d 4%s. .. 897 Lib 4th 4%s.. 172 US4%s1962. 132 FOR Bales. 27 98- 98- 19 341 98- Argentine 7s. Austria 75 ctfs Belgium 7%s Belgium 6s Belgium 8s Brazil 71%s Canada bs 1976, *anada 5l¢s 1929, Canada s 1931, Canada 5s 1952, Chile 85 1926 Chile 8s 1941 Chinese Gov Ry 5 “zechoslovakia SomnEeaa~a 25 o SmGe Denmark 8 Denmark 61 Duteh E 15%s Dutch East I 68'47. Dutch East T 68'62. French Govt 8s. French Govt 748 Haiti 6s ctfs. Holland-Amer Japanese 1t 4148, Japanese 2d 4%s. . Japanese 4s. Jergen U M 6s “ Lyons 6s. . Mexico bs Mexico 48 ntevideo 78 erlands 6s. Orlent Dev. deb 65, Paris-Ly's-Med n. Prague 7% e Queensland 7s Rio de Jan 8s 1946. Rio de Jan 8s 1947. 1. Sao Paulo,City,8s. Sao Paulo,State, Seine, Dept of, Serbs Crotes Slo §s Sweden 6; 2 iss Confed Ud Kingm 55 °29. Ud Kingm 5%s°37. 36 98-20 12 10 12 IGN. Hi 102% 98% 9% 86% 69 104% 116% 111% 102% 54 100-15 m—=i 100-“ 98-8 98-17 98-10 100 100 100 109% 109% 87 87% % 1% 82y 824 96 964 994 99% 100% 100% 101% 101% 9% 100 9% 99% 101% 101% 101 101% 45% 1% 93% 85 92% 91% 80% 8% 1% 1% 54 34% 86% 100% 110% 1 7% 1% 2% 5% 105% 93% 92 98% 9% 86% 69 104% 114% 111% 102% MISCELLANEOUS. Ajax Rubber §s Am Agr Chem Am Cotton Oil bs Am SmIt&R 18t 5 Am Smit&R 6s. ... Am Sugar Ref 6s. . AMT&Tec AmT & Tol trbs. AmT& Teltrd Anaconda cv db Anaconda 1st 68 Armour & Co 4155, Atlantic Refin 5 Earnsdall s £ 5 Bell Tel Pa 5s Feth Steel 5148 '53. Beth Steel pm 6s. Beth Steel s f 63 Brier H St 18t 51 Bklyn Edison 7s D. Central Leather b8 Cerro de Pasco 8s Chile Copper 6 CInG & E 5%s'62. Commonwth P §s Con Coal Md 1st 5s. Consum Pow 5s 52 Cuba Canecvd 8s. Det Edison ref st Duquesne Light S Cuba Sum T8 Expire F&G 715 Fisk Rubber 8s. Gen Refracties 6s. Goodrich 815 Humble O&R 635, Iilinois Bell 18t 5s. Tndiana Steel 58 Int Mer Marine 6s. Int Paper 1st 58 A . Int Paper 1st bs B. Kayser (J) Ts. KCP&Lt5sA 52 < Spring 8s Manati Sug sf T'ss 1 5 4 o - S 00w 1000 I O O 00 3.6 =3 e €3 00 00 03 00 00 b €9 63 e T . - Mexican Petrol 8s. ew Eng Tel s N Y Edsn 1st 6 ¢ Tel 65 '41. - B8 anmnBan X Am Edison 6s ¢ States Pow 58 Pacific Gas & El 5s PacT & T 68’52 Phila Coref 65 A. Punta Alegre 7s. Sharon St H8s Sinclair Ofl 7 inclair Oil 6% w N in Crude Of1 51; Sin Crude Ofl 6s. . Sin Pipe Line 5s. St Oil of Colif 7s. Steel & Tube 7s. ... Tenn Elec Pow 6s. Tide Wat Oll 6%5. . Toledo Kdn st s . Unit Drug cv 8s USRub st rf bs.. U S Rubber 7%s. U SSteel s £58. Utah Pow & Lit bs.. Va-Car Chem 7s. Va-Car C.7%8w Warner Sugar 78 West Union 6%s. Wickwire Spen 7. Wilson & Co 1st 6s. Wilson&C v 74s. Wilson & Co cv 6 94 97 90 4102 114% 97% 92 100 96%, 84 98y 97 9% 89% 88% 97% 9415 109% 98Y 119% 98% 97 84% 884 8914 901 103 1084 9835 90% 105 97 9974 91 95% 99% 8015 83 824 10214 9015 105% 964 1041 108 854% 95% 99 974 109 1054 106 93% 92 89% k33 90% 100% 109% 98% 96% 94 6% 97 85% 104% 102% 94% 102% 1064 112% 85% 106% 102% 88% 80 5874 108 108% 94 96% 2 60% 60% 90 Zl 100% 100% 01% 1144 96% 1% 29% 9615 84 93 97 a7 89% 7% 97% 944 109% 9844 118 984 - 86% 844 87% 8914 90% 103 103 98 898 104% 97 998 98K 954 99% 80 83 81% 102! 901% 105% 96% 1043% 108 85% 951 9 97 108% 105 106 93 92 894% 9 920 100% 109% 98% 26 94 964 97 84% 104 102 4% 1024 106% 112% 85 105% 102 884 79% 58% 108 108y $3,800,000 STOCK SALE PLANNED BY ARMOUR|3 By the Associated Press. CHICAGO, July 7.—To liquidate his personal obligations in connection with the recent refinancing project of Armour & Co. J. Ogden Armour, chairman of the board, has sold to a syndicate of bankers “a substan- tial block” of his stock in the Con- tinental Bank. and Commercial National The exact amount of stock sold and which the syndicatd will offer publicly w not made known but recent “publication of Chicago bank stock holders’ lists showed Mr. Amour holding ‘14,109 shares of Con At yesterday's market price of around $270 a share, bankers figured the value of the stock tinential Bank stock. at _about $3,800,000. At the time of the refinancing of Armour & Co., Mr. Armour made personal loan for $20,000,000 with number of bank: depositing as col- lateral a number of stocks, including Continental Bank stocks, and he now desires to liquidate his obligations. ———— AUTO PLANT IS SOLD. DETROIT, properties of C. ville, Mich., to_‘Kidder, July 7.—Sale pf the H. Wills & Co, motor car manufacturers at Marys- Peabody & Co., Boston bankers, for the nomlnnl price of $750,000 esterday by Ju Tn"Yederal court re. nounced when the B was confirmed Charles: 8imons It was an- ton_interests bid in the properties at a muln}‘ sale that the compan: organized with a capl 000, 20 cents in settlement of a German |Arh sndowment policy of $5,000 on which e has been paying for a long time perhaps feels like tHe preacher who sent his hat around the congregation lor a conlflbuuon. and who, on get- ing it -baok , closed his syes revere: iod T have got my hat back rrom Lais eonnucsuvn. f ‘would be tal of $15,000, RAILI ADl High. Low. Close. 56% 56% uv. 88% 80% nu 95% 7% 100% 33% 625 84 8 112% 9 o 62% 84 Toledo Cu‘& T 78’21 ct. RT78'21ct ut. nadian North 7s. 2! Canad North 63%s. . Canad Pac deb 4s. . 18 Car Clinch & O .22 Car Clinch & O -4 Ches & Ohlo cv 6s. . ll Ches & Ocv 4145, . Ches & O gn 434x Chi& Alton 314 Chl B&Q 1st rr 6- . - u.—ou-—wpnnqq Chi & E 1l g1 Chi M&S P 1744 Chi M&SLP cv bs. . Chi M&St P 48 '26. ChiM&S Pev 4tgs’ SHeNw “hi RI& Pac rf 4s. ChiUn Sta 414s. “. Chi & W Ind cn 4 CC&StLre6sA.. Cleve Term 51 Cuba R R 68 Del & Hd 1st rf 4s Del & Hudson 5145, Den & Rio G cn 4 D&RG lstrf bs.. Erie 1st con 4 . Erie con ext 7s Erfe gen 4s. . Erie conv 4s A . Erfe conv4s D. Gr Trunk sf db 6 Grand Trunk 7 Gr North gen 7 Gr North gen 63, Hud & Man ref § - AR R RR RO AD AN IR . —~D O o 11l Central 538 Int Rap Tran bs. Int Rap Tr 58 stpd. Int Rap Tran 7s Int & G Nor aJ 6s Int & G Nor 1at 6s. Kansas City S 3s Kansas City § bs Kan City Term 4 Louls & N uni 4 Louls & Nash 7 Louls & Nash § - !4 80% 893 107% 104% 93 81 ° 31 4% 5% 93% 49% 2% 803 52% 3% 104% H‘Vt 5 70'6 53 b4 634 3614 59'% 83 100% 92‘& 79 100 108 107% 22% 95 6644 84 4% 7% SG & nx-c 1% 99y 1% 42 274% 6214 91n 85 67 101% 46 1% 954 94% 8% jore - sloamptanrons Mo Pacificés...... Mo Pacific 5s '65. Mo Pacific gn 4s. .. N ¥ Cent gen s N'Y Centdeb 6s. N Y Cent deb 4x. NYCentribs.. N Y CenLScl3igs. New Haven cd 6s. New Haven 7 New Haven 7s fr NY W & Bos 415, Northern Pac 3s. Northern Pac 4s. . Northn Pacr 1 68 Northern Pac o D.. 66 Ore Bhort L ref 4 e-Wash 1st rf 4s. ennsyl gen bs. ... Pennsyl 6%s. Pennsyl gold 7 Peoria & E Inc 4 Pere Marq 1st 58 e Rapid Tran 6s w i. Reading gen 4s RTIArk & L4lis... St LIM&S R&G 4s. StL&SFplsA.. StL& SFprinbs. StL&SFinc6s... StL&SF adj 6s StL&SFplésC.. San A & Arn P 4s. Seab'd A Liref 4s. Seab'd A Ladj bs Seabd AL congs.. 17 Sou Pacific cv 4s... Sou Pacific ref Southern Ry gn Southern Ry 614 Third Ave adj b Union Pac 1st 48 Union Pac cv 4 Virginia Ry 1st Bs. Western Pacific West Shore 1st 4; Wisconsin Cent 4s. 86% 6414 724 99% % 43 2% 63 91% 85% 67% 101% 46% 9% 9564 4% 8% 80 79% 64 76 TOTAL SALES (Par Value) 11am.. 2703000 12noon 4083000 —_— SHORT-TERM SECURITIES, (Quotations furnished by Redmond & Co.) ~—Close. —, Bid. Offer. 1031, 10814 American Tel. . Anaconda Copper s 1920. Anglo-American Ol 7ias 1925.. Tel. of Canads 7s 1925, nt 7igs 1981 ederal Sugar Ref. Goodyenr T & B Great Nor. 7Ts, 1836. Jlocking Valley 6s 1924 Humble Ofl 0is, 1882 Kansas City Term. 8¢ Kennecott r 78 1980. Libby, McNeil & Libby 7« M., 8t P. & 8. 8. M. 8155 103; Morris & Co. 7143 1830, Penna. R. R. s 1080, St Paul Union Dept Sids. 1523 Sears, Roebuck & 1028, Srarard ON ot Callt. 7s 1681, Swift & Co. 5s 1982 Tidewater Ol 6iys Tnion Tank Car U. 8. Rubber T Western Union 63 Westinghouse E. & bu 1888, 1 T8 183100 U. 8. TREABURY CERTIFICATES. (Quotations furaished by Redmond & Ce.) Maturity— 3 September 15, 1923. s September 15, 1923. ‘. December_ 15, 1923. g3 Maren 13, 624 s June 15, 1924. 2. Keptember 18, Offer. 82 100 1:32 100 %3z 100 732 101 1882 101 1005-16 o182 1004152 99 100 T5.32 100 182 s March 15, 1925. i4s June 16, 1925 s December_15, 1028 3 Sammber 16 1046 8 September March 16, 1887 4128 December’ 15, 1631 4 b « 4+ COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, Pa., July 7.—Billets, slabs and sheet bars are quoted to- day at $42.50, Youngstown and Pitts- hurgh prices being on the same level. One dollar is added for small billets and $6 for forging billets. Early deliveries are possible but there is ro scramble for new business. CLEVELAND, Ohio July 7.—Auto- mobile accessory, manufacturers re- ported today that their business was holding up unusually well especially as this normally is the dull period The Fisher-Ohio = body building plant, one of the largest factories making automobile bodies in_the country In going ahesd full speed. An official he company sald today demand was as high as at any time in the last three-months. ington and Oregon mills last week was 24 per cent above normal with new business 26 per cent below pro- duction. New orders are dropping|h down but this is expected at this season. The lllfllu reporting manu- factured 107,563,744 feet and sold 80,793,331 teet. -Illu .l.l“on H andnn‘n‘- oe:" and manages by he: Aiadif n Az oto% lie is; Just twenty-one years of age. FINANCIAL Grain, Produce and Live Stock. LOCAL WHOLESALE MARKET. Small. fruits and vegetables fresh from nearby gardens, improved by the recent rains, were fairly plenti- ful this morning. They were in de- mand at figures above the usual prices at this season. Few changes In quotations have been noted this week. Price of lambs decreased, while those of other meats remained practically un- changed. 1ggs Increased 2 or 3 cents, while butter prices today were about what they were at the beginning of the week. Watermelons and more plentiful and cheaper. ern peaches also are plentiful, dealers report them as being reason- Eggs—Strictly fresh, selected, can- dled, per dozen, 27a28; average receipts, 26; southern, 24. 5 Live poultry—Roosters, per 1b., 12 turkeys, per Ib. 23; spring chickens, per 1b., 40a48; Keats, youug, euch, 10; fowls, per Ib., 25. Dréssed poultry — Fresh - killed gpring chickens, per 1 50a55; win- ter chickens, per heus, per Ib.. 28230; roosters keys, per Ib., each, 7080 Live stock—Calves, choice, per Ib., 9%; medium, per Ib., 9; thin. per ib.,’ 6a7. Lambs, spring, per b 11; live pigs, 3.00a5.00 each; iive hogs, per 1b, 8. Green fruits—Apples, new, per bas- ket, 1.50a3.50. California orange: crate, 00a6.50; Florida, 50: Lemons, per box, 8.00a11.00. Grape- fruit, 4.0025.00. Blackberries. per gt. 10a20. Peaches, 2.00a4.25. Cantaloupes standard, 4.00a4. ony, 3.00a3.50 flats, 1.50a1.75. Black raspberries, 20 25, red raspberries, 30a40. Vegetables—New potatoes, per bbl. No. 1, 6.00a6.50; No. 2, 2.0043.00. North Carolina yams, 3.50a4.00. Lettuce, per crate, nearby, 75a1.50; New York, 1.00a 2.00." Romairie lettuce, per crate, T5a 1.50. Cabbage, nearby, 2.00a3.00 per bbl. Eggplant, per crate, 2.00a3.00. To- matoes, per box, nearby, 3.00a5.00; Mis- sissippi, per box, 1.00a1.75. Beans, 7.00a 8.00. Peas, 2.00a3.00 per basket. Pep- pers, per crate, North Carolina, 1.00a" 2.00.” Kale, per barrel, 1.50a1 Spin- ach, per barrel, 4.00a5.00. Celery, per crate, North Carolina, 2.00a6.00. Sqiiash. 1.00a2.00. Florida iima beans, 2.0043 per basket. Asparagus, 1.00a4.00. GRAIN. AND PROVISIONS. BALTIMORE, Md., July 7 (Special). 100 —Potatoes, new, barrel, 1.60a6.00; pounds, 2.00a3.76. Asparagus, dozen, 1.60a4.00. Beans, bushel, 75a1.50. Lima beans, bushel, 2.50a3.60. Beets, hu dred, '5.00u7.00. Cabbage, crate, 1.25a 2.00." Carrots, hundred, 4.00a6.00. Corn, crate, 1.50a3.00. Cucumbers. basket, 1.00. Eggplants, crate, 2.00a3.50. Let- tuce, bushel, 50a1.00. 'Onlons, bushel, 1.00a1.50. Peas, bushel, 2.6083.00. Pep- pers, basket, dred, $.00a5.00. .’ Squash, basket, 00a2.50. ADples, barrel 2 shel, 1.00a1 H blflsko‘ Blackberries, quart. 10al loupes, crate, 1.25a3.25 pound, 10a20, Gooseberries, pound 6a8. Grapefruit, box. 2.50a4.00. Huc Kkleberries, quart, 15a20. Oranges, box, 4.80a6.50. Peaches, crate, 1.23a 3.00. Pineapples, crate, 3.00a4.00. Raspberries, pint, 8a12. Watermelons, 20a70. Settling Prices on Grain Whe: Ni 2 red winter. 114%;: NO. 2 winter, gai ot. 1.09. | *PSkiesBug 10ts of nearby at 90, 95, {97, 98, 1.00, 1.02, 1.0, 1.06 and 1.08 per bushel. Cargoes on grade, No. red winter garlichy at 1.10%; No. red winter garlichy, at 1.08. Corn—Cob, new, .75 per bblL; con- tract. spot. 90 per bu.; No. 2’ corn, 92; track corn, yellow, ter. 1.02 and 1.03, Sales—Carlot of No. 2 yellow, do- mestic, nearby shipment, at 1.02. Oats—White, No. 2, 51 ped bu.; No. 3, 50 per bu. Rye—Nearb: . bu. 2, western export, spot, Hay—Recelpts, 41 ton: the inquiry prevalling for hay is founded on the better grades of timothy and light clover mixed, of which description there is no surplus offering at a range of 19.00 to 23.00 per ton. Med- fumand low_grade hay is in ample 1y at irregular prices. pi i 1 tangled rye. 15.00a 12.50a13.00; No. Spinach, bushel 1.50a 50460, Tomatoes, 0. nta- Cherries, red DAIRY PRODUOTS. BALTIMORE. Md., July 7 (Special) —Live poultry—Spring chickens, 1b., 35a43: Leghorns, 30a38; old hens, 22a 26; Leghorns, 20; old roosters, 14ald; ducks. 14a18; spring ducks, 285a30: { pigeons, pair,’ 30. Eggs—Loss off. native and nearby firsts, doz., 24; southern. 22a23 Butter—Creamery, good to 37a40; prints. 40aé2: nearby ery. 35a38; ladles. 34a35; roll store packed, 29230; dairy 30a32. TODAY'S CHICAGO PRICES. CHICAGO, July 7.—Possibiliti black rust damage gave something of an advantage to the bull side in the wheat market today during the early dealings. Besides. hedging fancy, cream- 30a32 prints, sales of new wheat were light and | Liverpool quotations were higher. Buying, however, lacked volume and a forecast of coojer weather north- west helped moré or less to allay black rust fears. The opening. which varied from unchanged figures to % higher, with September 1.033% to 1.03% and Decemher 1.06%. was followed by slight general gains and then a moderate Sag. Scarcity of offerings, July delivery in particular. tehded to strengthen the corn market After opening un- changed to % higher. September 743 |55 7%%, ‘the" market scored &n ad- vance &l around and then reacted somewhat. Oats were firmer with other cereals, starting unchanged to 14 higher, September 34% to 35, and later hardening a littie more. Provisions responded slightly weakness of hog values. WHPAT— High. uy ity to Low. S g8 23z 33 & September October RIBS- September ber CHICAGO LIVE STOCK MARKET. ICAGO, July 7 (United States Deraaent” of Agriculture)—Cattle —Receipte, 500 head; compared with Week ago, most kiliing classes un- evenly, 25.to 75 higher, spots more; values' now largely back to season’s high time; extréme top matured steers, 11.50; best long vearlings steers and_yearling beef heifers, 11.35 and 10.35, respectively; bulls _about steady: veal calves, 1.00 to 1.25 high- er; stockers and feeders firm. Week's buik prices Yollow: Beef steers, 9.15a stockers and feeders, 6.0 ‘butcher cows and helfers, 6.50; canners O‘Ond ‘tl!\:’lnlarl, 2.40a23.60, veal calves, 1 .00. Sheep— Receipts. 11,000 head; mostly direct; ratlve offerings on gale unevenly lower; compared week ago, good and choice fat lambs, 25 to B0 lower; sorts considered; in-between grades off more; culls and sheep steady; week's extreme top western lambs, 16.25; closing na- t!vo top, 15.25: culls generall 8.00a 9.00: l\lll;"ayf'flfldhln lg.n;bn. 9. g:‘, 5 u ew. b s 007 heavies downward to Ho s—Recelpte, 11,000 head; most- W 25 lower; bulk desir- hCand meaium: welght butoh 3.00; top, 8.05. early: pack- ws, mostiy few weight Dpigs, mats holdover. 3,000: 7.0087.80; medium, 1.2885.00; lght. 7.15a8.00; light light, 7.00a7.90! packing sows. smooth, 6.25a6.35; packing sows, rough, 5.90a640; killing plgs, 6.60a7.65. m'fu"-? m *% notes ug\ol“d:n. . His B tron; str ot 2.00a2.25. Rhubarb, hun- | FEDERAL RESERVE T0 HELP FARMERS - Special Plans Made for FI- nangial Aid During Mar- keting Season. A special circular was issued Ly the Federal Reserve Board today callin: the attention of all reserve agents “the importance of the federal serve system functioning effec in providing adequate financing f. the orderly marketing of axrkuuul products” during the market Just ahead While making no definite sugge tions other than that proper financin; should be provided, the board left 1 doubt that it desired the resery system 1o keep a watchful cve ove the agricultural industry so th: recovery noted in the re lust th may be continued without halt Orderly Marketing Is Aim. “Your attention is called specifica #aid the circular, “to the nea ach of the American wheat hu The movement of this comme he world markets will soon b Cld will reauire financing, as we expert handling, to insure an or derly marketing movement and ave perfodical congestion %t terminu market points, which is very much t the disadvantage of the producer i ;l;:;"éz’";‘,c»'r:n 8 @ combined buyin emen’ e part o g1 orangement on the part of forelg “The board is agricultural situa tions of ‘the’ country improved over what three previous crop seasons are, however, some weak s require studied attention of “assisting the ing full advant orderly marketing, Credit to Insure Confidence, “The board would that officials of all banks, including themselves fully facilities for made possible acted dur done, the should give public, banks, co-opera and producers agricultural products “The board feels that any on the part of the federal resers banks will give u\urnn-' the producer and h ting ager ey that added cr lities available and will helpful promoting mutual confidence wh should be instrumental in pointin out any additional steps that can be properiy taken in the process of o derly marketing of agricultural pr o RAIL RATE INCREASES HELD UNJUSTIFIABLE s in railroad rates on stecl sheet iron and fabricated steel, which railroads proposed to make ef fective March between &t and St. that th. many sec teriall in_tl TI ts like to sugges he federal resery branches, regarding th. agricultural financin, through legisiation & the lust Congress deral the mrurmal'un to the memi: rketing age and buy . b activit 15 last on shipments # Louis, Peoria, Chi Paul on one hand, and po in Kansas, Nebr: and Colorado « the other, w today held un,au] able by the Interstate Commerce ( mission The increases have never go effect, the schedules having peen o pended by an investigation orc the commission tmmediately their filing. They would have the rates approximately 7 cents per 109 s 1t rates will be maintained until further notice. upon raised TODAY S COTTON PRICES. : December, March, 22.85 Cotton futures closed 5: October. ir Spot ~ cotton quiet: midaling. NEW July futures ’ tet : March ORLEANS closed ste down net July 2 Decenber s, March Jul s hig arrive middling, W ton qu the spot, middling, middling. WOULD PRESERVE ASSETS. WILMINGTON, Del. July 7.-Th Allled Cheinieal Company this afte inoon applied to Chancellor Wolce for a rule to show cause why « pre liminary injunction should not te issued restraining the Steel and Tub Company of America from distribu ing its assets among the stockhold- ers at the prescnt time. A rule to show cause to the contrary has becn issued, returnable next Friday. DRY GOODS MARKET NEW YORK. July 7 Week end dullness pervaded market for cotton cloths today witl transactions confined to small lotx The raw silk market was strong and active here and a similar tone prevailed in Yokohama whero 1.500 bales changed hands. Prices hers were up above 5 cents a pound. By the Assoclated Press. NEW YORK, July changes irregular. United States dol ain, demand, 4.56 sixty-day bills France, demand, Ttaly, demand, .0 Belgium, demand, 0479, German ovables, .0000045%. ]Inllnnd demand .3908; cables, .3913. Norway, deman 1622) Sweden, demand, .2644. Den mark. demand, .1753. ' Switzerland. demand, .1711. Spain demand, .142% Greece, demand, .0280. Polans e mand, 000014, Czechoslovakia, de mand, .0302%. Argentina, demand .3475. Brazil, demand, .1050. y treal, %. e BOSTON STOCK MARKET. BOSTON, July 7.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt in here: Quotation ars): Great -16; cables, 4 banks, cables, .0421 1. L0478, demand, .000004 % : Low. Close a2 2 2114 121 ”% 1% 0%, Bin 83, 421, Allouex Amer Arcadt Arizona com . Boston & Albany Boaton & Maine. Boston Elevated Calu & Hecla . Carson Hill Min . Gomnor J T ‘opper Range Davis Daily Tsland Creek” Jolang Creek prd e .. Swift & Co Swift International .