Evening Star Newspaper, July 10, 1923, Page 24

PIN ANCIAL THE EVENING STAR, WASHINGTON, D. ¢, TUESDAY, JULY 10, 1023 PRIGESGOLOWER ON DULL TRADIG Bears Check Yesterday’s Advance and Bring About Many Declines. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, July 10.—The main characteristic of the stock market to- day was the slow down in business. | Professional traders were at work | on the short side, contending that some further reaction should follow | the three-day rise late last week.| They met with moderate success fh! exploiting this theory. Nevertheless, | the principal point was that the de- cline was not accompanied, as it was a fortnight ago by large transactions, Adams Express. Ajax Rubber. .. Alaska Juneau Allied Chem. ... Allis Chalmer Allis Chalm pf. Am Agr Chem. . Am Ag Chm p Am Beet Sugar. Am Bosch g AmCan........ Am Car & Fdy. . Am Car & F pf. Am Chicle Co Am Cotton Ofl. . Am Druggist. .. Am H & Leath. . Am H & Lea pf.. Am Internat’] Am La Franc, Am Linseed. ., . Am Locomotive. Am Metals. ... Am Radiator. Am Safe Razor. Am Ship Com. Am Smelting. .. Am Smelt pf. Am Stecl Fdy Am Sugar. but by steadily diminishing activity.! The finference was that little real liquidation was going on, but that| the selling was coming mainly from professionals. Steel Report Bear Factor. The decrease of nearly 600,000 tons in unfilled orders of the United States Steel Corporation was at least 100,- 000 larger than the highest estimate. It gave the bears some help in their efforts to force prices down. Another factor was the 25 cents a barrel cut in Pennsylvania crude oil prices. “This furnished the excuse for another drive against the ofl shares with an unsettling price on the market clse- whe Mercantile Marine preferred was a weak feature, making & new low for the vear. There was nothing new in this connectlon now that the divi- dend has been passed. At present ocean freight rates this part of the company’s business is quite unprof- itable. Below a share, a good case could be worked out for the proposition that the stock was worth ount on treasury assets alone. write-offs which v has to make for depreciation of vessels and with rnings deficits besides, inroads upon ns account proceed very rapidly. Sugars and Coppers Quict. Sugar stocks showed no special weakness, because of the price cutting war in the refined sugar market, merely moving with sthe rest of the list. Coppers were unresponsive to the latest statistics, indicating that stocks on hand were reduced some 7.0004000 pounds in June and for the st time since the war were below the 200,000,600 mark. In other words. the statistical position of copper is the strongest it has yet been. The chief point of interest in the financial situation today was as to low the markets would react’to the announcement that the Eritish pre- mier would probably set forth on Thursday his attitude on reparations. In the view of the banking com- munity this will bring affairs with France to a head. A break-up of the entente would not be surprising. Yet in the markets of the day there were no < of uncasiness. The foreign exchange Instead of oing down went up. Sterling advanced across $4.57, against last week's low of $4.54%. Francs in cents were quoted above 5.90, as against their Jow of 5.77, and even German marks advanced The grain market, quite as much as the exchange market, is responsive | 10 the least intimation of internation- £1 complications. Had there been any anxiety in the grain trade it would | have shown in sharply rising prices instead of inactivity. Steel Business Falling Off. The decrease of 595.000 tons in orders on the books of the Steel Cor- poration, making a total for the last two months of over 900,000 is a measure of the extent to which new business ha lling _behind #hipments. shipments of sented an altogether tivity at the mill; The steel indu: to a more no ductio: to co n from the ¢ of last Febrnary und March and adjust itself to a le ened but still a very fair volume of new orders. { Stock Market Notes. course, abnormal e pro- Am Sugar pf. Am Sumatra. Am Tel & Teleg Am Tobacco. ... Am Tobac (B).. Am Water Wks., Am W W 6% pf. Am Woolen. Am Woolen p Anaconda. : Assets Realizn Asso D Good, Atchison. . : Atian Bir & Atl. Atlantic Fruit. . Atl Fruit ctfs Atlantic Gulf Atlantic Ref. Austin Nichols Auto Knitter. Baldwin Loco Balto & Ohlo. .. Balto & Ohio pf. Bangor & Ar pf. Barnesdall (B). Bayuk Bro 1st pi Beechnut Pack. Beth Steel...... Br Em Stl 2d pt. Bklyn Edison. .. Bklyn Rap Tran Bklyn R war 2d.. Brown Shoe... . Burns Bros (A). Burns Bros (B). Butte Copper-... Calif Petrol..... Callahan Zinc. Calumet & Ariz. Canadian Pac Case (JI) pf. Central Leath. . Cent Leath pt Cerro de Pasco. Century Rib Mill Chandler Mot. .. Chesap & Ohio. . Ches & O pf w 1. Chi & Alton.... Chi & Alton .. Chi & East 111 Chi & E 11l pt. Chi Grt West, Chi Mil & St P Chi Mil &St P pt. Chi & Northwn. Chi Pneu Tool.. ChiR1& Pac... Chi R 1&P 7% pt Chile Copper Chino Copper-. .. Cluett Peabody. Cocu-Cola..!... Colo Fuel. Colo & South... Columbia Gas. . Columbia Graph Col Graph pt. Com Solv (B) ... Comp Tabulat. . Cons Cigar. ... Cons Gas of NY. Cons Textile. Cont Can. Cont Can pf.... Continental Mot Corn Products. . Corn Prod pf. .. n & Co . Cuba Cane Cuban Dom’can. Cuyamel Fruit.. Davidson Chem. 1 De Beers. .. Del & Hudson. | D Lack & West.' Attention was drawn today by a Broadway house to the report that ! Some former owners of Burns Broth- | ers stocks, who were forced out by ! some of the earlier brokerage troubles, have been credited with re- { placing their interest. Burns Brothers | is said to have over $7,500.000 net quic sets and to be earning about 20 per cent on the A stock. The com- | pany expects a good 1 market | throughout the summer, being as vet | unable to put coal in siorage Private advices from the Tulsa dis- | trict today were to the effect that a | reductio of Midcon- | tinent No in- | formation is ble regarding the extent to which Midcontinent wiil reduce prices. Steel and Tuhe Preferred. Trading in steel and tube preferred went on moderatly, following the re- ports that some difficulty had been encountered in the sale of the $40,- 000,000 Youngstown Sheet and Tube | 6 _per cent debenture bonds, offered by a syndicate recently at 89 and accrued intercst, and the proceeds of which were intended to finance t purchase of Steel and Tube by the Youngstown company. i Lately obposition to the merger | from the Interests rcpresented by the Allied Chenical and Dye Corpor- | ation was to have en, and th status of the whole situation is not clear. MARKET CLOSES HEAVY. Break in Burns Brothers Late Trading Feature. By the Associated Press. NEW YORK, July 10.—Prices de- veloped a reactionary trend in today's stoc market, the dullest of any full; d session this year. Unfavorable foreign political developments, un- | settled commedity prices and the | «large dccrease in the unfilled orders| of the United States Steel Corpora- tion influenced selling for both | counts. Sales approximated 400,000 | sharcs. The closing_was heavy. A sharp break in the Burns Brothers' issues, the A falling 5 points, encouraged short selling of other industrials in the late dealings. Western r: s yielded a point or so in sympathy Wwith the sharp drop in wheat prices. FEAR CAR SHORTAGE. SAN ANTONIO, July 10 (Special).— Watermelon growers throughout Teoxas Who are preparing to market their products now fear a car short- age. Parker county, for example, expects to ship 1,200 carloads, ut the railroads cannot promise equipment in volume by July 15, because cars are occupied moving the grain crop. PARIS MARKET SPOTTY. PARIS, July 10.—Prices moved ir- regularly on the bourse today. Three per cent rentes, 56 francs 10 centimes. Exchange on London, 77 francs 55 centimes, Five per cent loan, 75 grancs. The dollar was quoted at 17 francs 3 centimes. e LIVERPOOL COTTON. LIVERPOOL, July 10.—Cotton, spot uiet; prices firm; good middling, 5.88; fully middling, 15.78; middling, 15.63; low middling, 15.38; good o dinary, 14.88; ordinary, 14.55. Sales 5,000 bales, including 2,900 American. Receipts, 9,000 bales, including 4,600 American. Futures closed firm. Julx. 34.75; September, 13.67; October, 13.1 December, 12.69; January, 12.5; 2e~voh, 12.36; May, 12.23, Detroit Edison. Devoe & R 1st p1 DusSS & Atl pf. Dupont (B1). astman Kodal Elec Stor Bat. .. Endicott-John. . rie 1st pf. Erie 2d pf. Famous Players amous Play pf. Fd Mines. Fisk Rubber Fleishman ; Foundation Co.. Freeport Texas. Gardner Motor.. Gen Asphalt.... Gen Asphalt pf. Gen Electric. . sen Elec spl.... Gen Motors. ... Gen Motors pf Gen Mot 6% deb. Gen Mot 7% deb. Gimbel Bros Goodrich Goodrich pf. Goodyear pf Goody pr pf w i, Granby Consol.. Gt Northern pt.. | Great Nor Ore Guantana Sug. . Gulf M & Nor pf. Gulf St Steel. ... Hayes Wheel. Homestake..... Househ'd Prod. . Houston Oil. . Hudson Motors. Hupp Motors. Hydraulie Stl. Illinois Central. Ind Ol & Gas. .. Indiahoma. % Inland Steel. Inland Steel pf.. inspiration. - interb Rap Tr In Ag Chem pf.. Int Cement. In Combust . Int & Grt Nort] Int Harvester. ., Int Mer Marine. Int M Marine pf. Int Nickel. .. Intl Paper (sta). IntShoe........ Int Tel & Teleg. Invincible Oil... Iron Product. Jewel Tea. Jones Tea. Jewel Tea pf Kansas City S.. Kayser (Jullus) Kelly-Spr Tire. . Kennecott. ..... Keystone Tire.. Kinney G R..... Kresge (SS) Lehigh Valley. . Lima Locomo. .. Loews Inc...... Lorillard (P)... Louis & Nash... Mack Trucks. Mack Truck 2d. Mallinson & Co. Man El inv guar Manila El Corp. Market St prior. Marland Oil. Mathison Alkill. Maxwell (A).... Maxwell (B) May Dp Stores. . Meintyre Per. .. | 105 Open. T0% 7 1% 85% 40% 90 12% 82% 30 30 884 155, 121% 10 Atlan Cst Line. . 1 61 27 % 2% 25 72% 21% 59% T 45% T 1187 116% 39% 65 864 26% 27% 63% . 178% 10% 184 79 0% 97 41% 25 81 50% 98 17% 664 26% 6% 49 % 33% 63 80% b2y, 22 18% 1% 108% 5% 6 33 98 28% 124 e 34% 215 20% 8% 15 164% High. Ton b i% 65% T 118% 116% 39% 65 8614 27 11% 41% % &6 31% 231 103% 113% 102 Low. 0% 7 1% 65% 40% 20 12% 32% 30 30 874 164% 121% 10 4 4% y 364 18% 10% 19% 65 43 81 5% 10% 54% 96% a3 63 101% 18% 121% 1424 141 35 57 821 101 39% % 20 29 1% 112% ey 13 10 106% 19 *19% n7 454 57% 90 9% 9Ty 444 24 80 5% 18% 61 ki 27 28 1% - 2% 25 2% 21% 68% % 44% 105 ] 117% 116% 370 634 644 25% 10% 40 % 6 30 28% 100 113% 102 90 4% 114% 104% 55% 68% 1 17% 13 7 90 38% Bh 424 68 10% 9 27% 6334 178% 10% 13% 9 £0% 97 41 25 81 504 8 17% 65% 26% 6% 49 70% 821 63 30% B2% 22 18% 1% 108 5% 5 82 974 284 124 9% 344 21% 20 8% b3 21% Closa. T0% | Mex Seabd otts. i Miami Copper. 7 11 1% | Midvale Steel. 65% A0% | 90 | 12% 33 20 30% 87% 154% 121% 10% 4 % 7 8€w% 18% 10% 18% 31y 0% 784 24 80 26% 18% 61 1 21 28 2% Kl 2% 25 72% 21 58% Ti4 45% 105 % 117% 1164 384 64 86% 26% 10% 40% 10% 9 27% 6315 178% 10% 13% 7 B0% 97 41 1% 108 % 5 32 91% 284 12% 9% 843 21 20 8% 5% | 21% | gy | 83% 64% 65% 10 36 18% 561 69 17% 31% * ! North Amer. | Middle St Of1 Mipn & St L (n). M StP&SSM(LL) | Mo Kan & Tex. . ! Mo K & Tex pf.. | Mo Pacific. { Mo Pacific pf. Montana Power. Montg'y Ward Moon Motors. .. | Mother Lode Nash Motora | Nat Biscutt. ... Nat Cloak & S pt Nat Conduit. . atl Lead. 13 | N Or Tex & Mex. 86% NY C&StLpf wi 94 {NY Central. 9TH {NYDockpf.... 414 YNH&Hartfd. 124 Norf & Western. 103 204 a2 66 8 17 8 43 2% 12% 59% 56 2 43% 8 87 10 42% a4 274 8% 2% 25 58% 2% 47 35% 48 . 114% 504 184 102 29% 11 I North Am pt orth Pacific. Nunnally Co Orpheum Clrcut Otis Steel, ...... Owens Bottle. RacificOIl...... Packard Motor. Pan-Am Pete... Pan-Am P (B).. Panhandle. ..... Pennsylvania. .. Penn Seabd Stl. People's Gas. ... Peoria & East. Pere Marquett Philadelphla Co Phillips Pete Plerce-Arrow. :. Pierce Ofl. Pierce Oil pf. Pitts Coal . Pitts & W Va. Postum Cereal. . Produc & Ref... Pub Service. .. Pullman Co. Punta Aleg! Pure Ol Rallway St Sp Rand Mines. Rapid Tran Sec. Ray Con Copper Reading. Reading 1 Remtngton Replogle Steel Rep Ir & Steel Rep Ir & 81 pt Reynolds Spr. Rey Tobac (B). | Royal Dutch St Joseph Lead. . St L&San Fr pt. St L Southwn. St L South pt San Cecil Sug. Savage Arms Schulte Stores Seaboard Air L. Seabd ALpPSL.... Sears Roebyck.. Shell Union. ... Simmons. . Sinclair Ofl Sinclair pf. . Skelly Oil. . Sloss-Shetfield So Porto Sugar. South Pacifie Southern Rwy. Southern Ry pf St Ofl of Calif. Stand Ofl of N J. StOilof NJ pf.. Steel & Tube pf. Sterling Prod. Stewart-Warn, Strombg Carb. . Studebaker Studebaker pf. Submarine Bt. Superior O1l. Texas Company. Tex Guif Sulph. Texas & Pacific Third Avenue. Tide Water Oil. . Timken Bearing Tobacco Prod. { Tobacco Prod A Tobacco Pro pt. Trans Cont Ofl. . Twin C R Tran. Union Pacific. Union Pac pf Un, Tank Car U Alloy Steel United Fruit. U S Food Prod. U S Hoffman M. U S Indus Alco US Realty. Rubber. U S Rub 1st pf. U S Steel. US Steel pf Utah Cop, | Gtah see Vanadium Corp. Va-Car Chem. .. a-C Chem (B). Va-C Chem pf.. Wabash pf (A). Wells-Fr Exp. . West Elec pt Western Md. West Pacific. ‘West Pac ptf. Western Unlon. West Air Brke. . Westhse EI&M. ‘Wheeling&L E. White Eag Oll. White Motor. .. White Oll.... Willys-Overld. Willys-Overl pf. 68 ‘Wisconsin Cent. 26% Woolworth. ... 280% Youngstn Tube. 654 65% High, Call Money..... 55: HOURLY SALES OF STOC 153100 12m. +240600 2p.m. —_— SHORT-TERM SECURITIES. (Quotations furpished by Redmona fuminum Co. of Amer. Ts 1925. Aluminum Co. of Amew 7s 1933. u Cotton Oil 68 1924.... o Tel. & Tel. 65 1624. n Tel & Tel. 6s 1925. Anaconda Copper ds 192 Anglo-American Oll 7 Bell. Tel. of Can. 7s 1025, Cunadian’ Northern Ss 1924, Central Argentine Rwy. 6s 1027, agral Leatier 8 1025, & Goodyear & Great Northern 7s i938. Hocking Valley 8 1924 Humble Ol Blgs 1982.. Iansas City Term. ¢e 1923.... Keanecott Copper s 1980051 1 Livby, MeNell & Lidby 7s 16810 M., Bt. P. & 8. 8. M. 6%s 1931, Mtris & Co. 1630. Penna. R. K. 78 1080, Bt. Paul Union Depot Sears, Roebuck & Co. Tw ivig. Htandard Oil of Calif. 7s 1931. Switt & Co. Os 1082. Tidewater Oil Glgs 1631 Union Tank Car 1080. U, 8. Rubber Tiis 1930. Western Union_ 6ls 193¢ Westinghouse . & M. T8 *Called Aug 83 | . 33% U. 8. TREASURY CERTIFICAT 108 20 a2% 65% 8 17 % 264 229% Low. 5% NEW YORK STOCK EXCHANGE Received by Private Wiro Direct to The Star Office Low. Close. % 11W 23% 28% ™ 5 59 10% 27% 1% 30% 5714 20% 21% 8% 95 41 ¥3 % 112% 87 03 7% 41 1% 108 20 42% 66% 8 % 12% % 15% 27% 24 0 16% 40% 40 85% 32% 64% 50y 2z 115% 104% 54 7 62 101% 15 8% 3% 42% B5% 18 10% 9974 37 45 9 109% 5% n 129 2% 87 20 165 2% 16% 46% 92 40% 96% 90% 118% 58% 14% 28% ke 4 21% 26% | 34% 112% 10 17 55 103 8% 64% 7" 24% 4% 1% 8 63% 26% 229% 63% Last. 54 KS. % & Co.) 1008 102: % 107 (Quotations furnished by Redmond & Co.) ~———Noon.——, | Hardy Coal Maturity— %8 September 15, 1023 September 13, 1923. December 13,1023 s March 15, 1924, 4% September 15, 1024 4 March 15, 1923, June 18, 1925. 00 9-16 100 8.18 98 15-16 100 516 0% CHICAGO, July 1 pts, 21,382 tubs; cream: 101 11.82 101 7-82° 100 932 100 182 100818 -Butter stron, 38; standards, 37%; extra firs l.'l‘lrl'!.; firsts, 3434a35% Eggs_st H firsts, 23% FINANCIAL. STRENGTHISSHOMN INFORERN BONDS Stand Up Well in Face of Gloomy News—U. S. Issues | Steady, But Quiet. BY GEORGE T. HUGHES. 8pecial Dispatch to The Star. . NEW YORK, July 10.—The feature of the bond market today was the way In which the forelgn bonds held up in the face of pessimistic dispatches from abroad. It was not ‘to be expected that French or Belglan bonds should ad- vance with so great uncertainty pre- valling as to the outcome in repara- tions situation, and some decline would not have been surprising. It was all the more remarkable, there- fore, that prices held around last night's closing. Either these bonds are now in stronger hands or the very attractive yleld they offer more than compensates for any risks. The market for the second grade and speculative ralls was very Ir- regular. Missourt Pacific generals were in supply around 53, although the sixs, which are a prior llen, are salling considerably above their re- cent low. St. Paul Issues moved ir- rogularly. The 4s of 1925 went a little higher. Chesapeake and Ohio convertible 5s, an investment issue, improved fractionally. There seems to be a little better dgmand for this type of bond. All the high-grade ralls and in- dustrials were firm, but with only vory small changes in price. There is & good market for bonds of the Illinois Central 4s of 1952, Pennsyl- vania General 4%s, Burlington 5s and Canadian Pacific debenture 4s. United States Government bonds were steady and not very active. Intorborough refunding 58 were higher and the Hudson %nd Manhat- tan refumling s held thejr recent {gain. It is reported that the Hud- |son and Manhattan will declare the ifirst_dividend on its preferred stock on Thursday next. CRUDE OIL PRICES AGAIN REDUCED Pittsburgh Reports 25-Cent Drop in Several Grades—New Price List. By the Associated Press. PITTSBURGH, Pa., July 10.—A re- duction of 25 cents in the price of the principal grades of crude ofl was announced at the opening of the mar- ket today. The new prices are: New York transit and Bradford aistrict $3.00 a barrel: National Tran- sit. Southwest Penn. Gureka Pipe Line and Buckeve Pipe Line, $2.75 Other reductions were: Cabell, 21 cents to $1.50; Somerset 15 cents to $1.40; Somerset light 20 cents to §1.. Ragland, 15 cents to 75 cents. PRODUCE SHIPMENTS HEAVY TO NEW YORK Market for Green TPease Shows Slightly Higher Prices Today. Special.Dispatch to The Star. NEW YORK. July 10.—The New York city wholesale markets for the week onding July 7 received approxi- mately 3500 carloads of fresh fruits {and vegetables from different parts of the country, as well as from Euro- pean and other forelgn countries. Of the total supply the state of New York furnished only about 250 cars, which conslated “chiefly of apples berries, cherries, also carrots, celery, lettuce, poas and potatoes. Currants continued to meet a lim- ited demand. Prices ranged from $ to 15 cents per quart. At Pittsburgh yesterday currants sold from 15 to 20 conts per quart, at Philadelphia, {15 to 18 per quart and brought 1% to 15 per quart at Boston. Green peas were in comparatively | !light supply today and resuited in {vlightly higher prices being realized | for the fanciest offerings. Sales ranged from $1.25 to $2.50 per bushel Ibasket. Madison county peas sold yesterday es follows: At Philadelphia, {30 cents to $2.75 per bushel basket. ! At Pittaburgh the best stock brought $250 to $2.75, while at Boston they s0ld from $1 to $2.50. NEW COKE OVENS OPEN. West Virginia Plant Being Rush- ed to Completion. Special Dispatch to The Star. WEIRTON, W, Va. July 10—The Weirton Steel Company has placed its new by-product coke ovens in operation, providing employment for 200 additional men. Work is being pushed today on the new sheet mill department. which will give employ- ment to 1,500 men. The mill is sched- uled for completion in August. The new coke plant consists of thirty- seven ovens with a capacity of 1,000 tons a day. TICKER TAPE TALK. Great Northern's freight loadings passed the 100,000-car mark in June, totaling 108,674 cars, compared with $5,895 in June, 1922, or a gain of 26.4 ercent. Principal increases were on ore and coal. June shipment of V. Vivaudou to- taled $430,000, an increase of $120,000 over the same month a year ago. Fori six months ended with June ship- ments amounts to $3,182,683, com- pared with $2,172,613 last year, an increase of 4 per cent. June output of Old Dominion Cop- per Company was 2,285,000 pounds of copper and that of Arifona Commer- clal 695,000 pounds. —_— BOSTON STOCK MARKET. BOSTON, July 10.—Following is a list of today’s highest, lowest and closing prices for the most active stocks cealt !in here: Am Tel & Tel Amoskeag . Arcadian Cons’ Arisona Com . Roston & Albany. Boston & Maine i Boston Elevated Calu & Ariz. Calu & Hecla Carson Hill Min . Connor J Copper Davis Daly East Butte Eastern 8§ Franktin High. Close. 121% ?g% 1:3* | il 42% Island Creek Jsie Revale - NHNY&H North Butte 0ld Colony ... Osceola .. Pacific Mills | supply; Swift Tnternat . U 8 Bmelt pfd. Utah Apex Utah Oen storage pack extras, 25; storage k | Warreh Bros .. ot ‘Winone firsts. 23a23%. -1 Wileon & Co 1st 6s. MBONDS Received by Private Wire Direct ta The Star Office. (Bales are in §1,000.) (Fractions Toprasent “thivty ns represent T Example: l?l-l means 1! 32.) ° Sales. High. Low. Clowe. 229 100-15 100-12 225 98-13 98-13 98-13 98-10 98-13 98-10 9828 98-23 98-15 98-11 99-26 99-24 FOREIGN. Sales. High. . 34 102% 121 9% . 2 100% . T 9% . 11 100% .. 3 109% 87% 8% Lib 3%, . Lib 2d 4s. 14b 1st 4% s Lib 2d 43¢ ub‘tha‘- US4%s 1952, TLow: Close. 102% 102% 1% 9% 100 100% 95% 95% 100% 100% 109% 109% 86% % 82% 96 100 100% 101% 100 ¥9 w1 101% 101% P 109 89% 92 108% 96 90% 95% 25 B9 96% 925 93 84% 92% 1% 80 7% 7% 51 86% 100% 1t 97 91% 2% 5% 1064 100% 93% 93 98% 98y 85% 63 81 104% 115% 5% Argentine 7s... Austria 7s ctf; Belgium 7%s 8% 82% 964 100 100% 101% 100 99% 101 1 101% 44% Brazil 8s Brazil 71*s. Canada 68 1926. ... Canada 5%=s 1929 Canada bs 1931 Canada 6s 1952 Chile 85 1946. Chile 8s 1926. Chile 851941, 5 Chinese Gov Ry 5s. Christiania 8s. ... Copenhagen 6%s. . Czechoslovakia 8s. DutchE15% Duteh East I Dutch East I Framerican 7%s. French Govt 8s. ... French Govt 7%;s. 169 Hait) ¢s ctfs. Japanese 1st 415 Japanese 2d 435 Japaneseds. ...... Jergen U M 6s 47, . Lyons 6s 2 Mexico bs. Montevideo Netherlands Norway 8 Norway e Orient Dev deb 6s. . Paris-Ly's-Med 6s. Prague 7%s....... 5% 108% 100% 91 93 98 98% 86 69% 81 1044 115% 5% Queensland 7 Queensland 6s. . Rio de Jan 8 1946, Rio de Jan 8s 1947, Sao Paulo,City,8s. . Sao Paulo,State,8s. Seine, Dept of, 7s. . Serbs Crotes Slo 8s Tokio6s.......... 6 Ud Kingm §338'29. 7 111% 111% Ud Kingm 6% 7.162 102% 10i% Uruguay 8s.. - 1103% 103% MISCELLANEOUS. Am AgrChem 7343 16 97 AmChainsf6s'33. 4 94 Am Cotton Ofl 6s.. 1 60 Am SmIt&R 1st 5s. 17 9% Am SmIt&R 6s.... 30 101% Am Sugar Ref 6s.. 15 101% AmMT&Tcveés.... 9 116 AmT& Tecltrbs.. 26 97% AmT& Tcltrds.. 24 924 Anacondacvdb7s. 34 99% Anaconda 1st 6s... 85 95% Armour & Co 4 4 84 Atlantic Refin 58 98% Bell Tel Pa 55 rcts. 97% Beth Steel 5345 '53. Beth Steel rf 5s. ... Beth Steel pm 58 Beth Steel s f Brier H St 15t 5%s. Bklyn Edison 7s D. klyn Ed gen bs. . Bush T Bldg 53 '60. Central Leather 5s. Cerro de Pasco 8s.. Chile Copper 68 CinG & E 513562, Commonwth P 6s. . Con Coal Md 1st 5s. Cuban-Am Sug 8s. Cuba Cane cv d §; Det Edison ref s6. . Diamond Mth 7is. Du Pont de N 715s. Duquesre Light E Cuba Sug 7%4s. .. Empire F&G 7lis. . Fisk Rubber 8s Gen Elec deb 5s. Goodrich & Goodyear 8s 1931 Goodyear 8s 1948 Humble O&R 5138. Tilinois Bell 1st 5; Indiana Steel 5 Int Mer Marine 6s. Int Paper 1st A Int Paper 1st 53 B. Kayser (J) 7 KCP&Lt5sA ‘52 Kelly-Spring 8s. .. Liggett & Myrs 55. Lorillard (P) 5& Magma Cop cv 7. . Manati Sug sf 7338 Marland Ofl 7%s. . Mexican Petrol 8. Mich St Tel 1st 5s.. Midvale Steel 5s. Montana Power 5i Morris&Co 1st 4358 New Eng Tel s N Y Edsn 1st 63%5 NYG EL H&P & NYG EL H&P 4 NY Tel 68 '41 N Y Tel6s'4 NY Tel 4is N Am Edison N States Pow 6 Northwst B Tel 7 Otis Steel 8s. .. Pacific Gas & El 5s PacT & T 63’52 PhilaCoref 6s A Plerce-Arrow 8 Producers &R 8s w Punta Alegre 7s. Sharon St H$s Sinclair Oil 7s : Sinclair Oil 6% w i. Sin Crude Ol 53, Sin Crude Ofl 6s. Sin Pipe Line bs. South Bell Tel 5s So Por Rico Sug 7s. St Ollof Colif 78. .4 Steel & Tube 7s Tenn Elec Pow 6 Toledo Edn 1st Union Bag & P U S Rub 1st rf 6s. U S Rubber T%s. U S Steel s f 5: Utah Pow & Lt 964" 934 60 894 100% 101% 115 96% 9% 9915 96% 831 98 97% 89% 95 88 9T% 944 109 94 83 98% 118 98 97 85% 87% 107 91 1025 105% 1074 103 7Y 911 105 100% 99% 101% £9% 100% 101% 116 99% 821 984 97% 89% 29% 102% 90% 106 96% 26 111% 96% 94 108 100% 85% 95% 8% 7% 109 97% 81% 104% 105% 93% 2% 89 107% 98 90% 89% 100% 68% 119% 108 98% 96 94 96y% $6% £54 93% 99% 104 103 94w 106% 95% 85% 106 101% 88 T9% 59% 102% 108% 95% 96% 83% - porey © CRBRERO, ~RONNBAONBNIBOOR WA R B hD®E - 93% 994 104% 103 94% 106% 95% 86 108 1024 88 9% 16 60% 2 102% 5 108% 8 98% 1 956% 2 83% —_— ° DIVIDEND DECLARED. SAN FRANCISCO, Calif., July 10.— The Union Oil Cbmpany yesterday declared a dividend of $1.80 a share, payable July 28 to stockholders of record on July 11. BALTIMORE LIVE STOCK. BALTIMORE, July 10.—Cattle—Re- celpts for the week ended noon yes- terday were 1,730 head. against 1,941 head last week; sixty-eight carloads for market for the week. Sheep and lambs—Receipts for the week ended noon yesterday were 6,728 head, against 4,756 head last week; fair supply; market steady on choice, other kind lower. Sheep, 1.50a5.00; 18mbs, 8.00a16.00. Hogs—Redeipts for the week ended noon yesterday were 7,840 head, inst 10,730 head last week; light market steady. Lights, 8.80; 8.40; medium, 8.80; pigs, 8.40; light p! 7.75; roughs, 4.50a6.25. ‘estern hogs 6 to 10 higher. Calves—Receipts Tor the week ended yesterday were 1,166 head, against 2,024 head last week: foderate sup- ply; market higher, Calves, 6.00813.00; extra, 13.50. 3 93% 99% 104 103 94 106% 85% 106 102 88 9% 60% 102% 1m8% 95% 95% 83% Va-CarC . THsw. ‘Warner Sugar 7s ‘West Union 61 ‘Wilson&C cv 7%! ‘Wilson & Co cv heavy, 8% | o1 | 95% | as. | Atchtson %320 " | Atchison S6x | MK & Tadj | 100% [StL&SF pl4sA.. {RTATk & L4%s RAILROADS. Bales. I:.ul. 85% 84% 100-12 | Atlantic C L cl 98-18 [ Atlantic C L 4345, . 98-12 (B & O prin 3135, . 98-13 | B & O gold 4s 98-25 |B& O 6s. . 98-14 [B&Ocviis 99-25 | B & O ret 6s. 8% 8% 101 80 3 74% [ 64 70 70 B4% 112% 112% % 96% 86% 88 3 28% 98% 8% 50 €0 64% 63% 80% B&O PLE&WV 4s. 1 B & OSW div3is, B & O Toledo 4s. . . Bklyn R T 6s. Bklyn R T 5sctfs. , Bklyn R T 7s ‘21 Canadian North 7s. Canad North 63, Canad Pac deb 4s. . Car Clinch & O 6s. Central Pacific 4s. Ches & Ohio cv 5s. Chi & Alton 3s. ... Chi & Alton 338 Chi B&Q 18t rf 5 Chi & Ell gn 6 Chi Great West C M & Puget Sd 4s ChiIM&S P re 4155, Chi M&St P ov Chi M&St P 4825 ", Chi M&S P v 4145, CLI M&St P 4534, CM&StPgniy Chi&N W 634s Chi& NW 7, ChiRT& Pac rf 45 Chi & W Ind'en 4s. Chi& W Ind 73s. . CCC&StLresA. . Caba RR G Del & Hd 1st rf 4s. De! & Hudson §;s. Den & Rlo Gen 4s. D&RG st rt6s Det United 434s. .. Erie 1st con 4s. Erie gen 4s Erle conv 4s D Gr Trunk sf db 6: Grand Trunk 7 GrNorthgen 7s. .. Gr North gen 53%s. Green B & W db B. Havana ERL&P 53 Hud & Man ref 5s, Hud & Man aj 55 I Cent ref 68 '55. . Til Central 514s. Tnt Rap Tran 5s. .. Int Rap Tr 5s stpd. Int Rap Tran7s... Int & G Nor aj 6s. . Int & G Nor 1st 6s. Kan City Ft S 4s Kansas City § 3s. . Kansas City S 5s. . Kan City Term 4s. Lake Shore 43 '28. . Lake Shore 45 °21. . Louls & N uni 4s Louls & Nash 5 Central ab 4 Ry & L 58 & SSM 6138 Ist4s.... 1 prinbsA. 40 45 B Z TésC... 58 Mo Pacific 6s Mo Pacific gn 4s. &T &T &T MK& o8y | Nassau E Ry 4s° New Or Term 4s. .. O Tex & M in 6s. Y Cent deb 5 Y Cent r 15 : New Haven cd 6s. New Haven d 4s 57. ew Haven 7s. ew Haven 7s fr.. Y W & Bos 4155, orfolk & W cn 4s. orthern Pac 3s Northern Pac 4s. .. Northn Pacri 6s. . Northern Pac 5s D.. O Short Lien 55 °46. Ore-Wash st rf 45 Pennsyl gen 5s. ... Pennsyl gen 41;s. . Pennsyl 6%s. Pennsyl gold 7 75 54 54 56 54 37 88y 594% 8284 1074 94% 101% 79% % 100% 897 107% 107% 66% 84 60% % T4% 8¢ 661 B1% [ 90 2% 19% 5% 4% 73 42% 27% 63% 914 6 804 95% 67% 100% baw 46% 9% *3% 954 103% 84y 94% 60% 8 61% 108 108 667% B4y 60% 5% 5% 84 66% 81% 648 204 2% 99% 76 4% 73 2% 28% 64 9% £6 804 5% 67% 101 55 47 914 6 R3% 12 95% 9 104 94% 94% 60W 8 61% 48% 484 '4:‘ %% 6% TOTAL SALES (Par Value) 1lam.. 2872000 12 noon 4371000 1pm. 6119000 2p.m.. 7491000 FOREIGN EXCHANGE. July 10, 1928 (Quotations furnished by W. B. Hibbs & Co.) Nominal Sellin; £old value. t Rapid Tran s w 1. Reading gen 4s. Rio G West cl 4s St L IM&S R&G 43 StLIM& S 43°29. StL&SF prin 6s. L& L& L& L& s L s s 8 s s w eab'd A Lref 4s. . 'd A L adj 5s. . eab'd A Licon 6s. . u Pacific cv 4s 44 20 -9 15 16 Southern Ry 6%s. . Third Ave ref 48 Third Ave adj 55 Union Pac 1st 48 Unlon Pac 1st rf Union Paccv ds. .. Union Paccv 6s. .. ginia Ry 1st bs. bash 18t § Western Md 4s. ... ‘Western Pacific 5s. Wheel & LE cn 48 Whel &LE rf 4%s. ‘Wisconsin Cent 4s. London, pound Montreal, dolla; Zurich Athens, adrid, Vienna. Budapest, crown. Prague, crown. Warsaw, mark. Copenhagen, cror Cbristiania,” crows Stockholm, crown. By the Associated Press. NEW YORK, July 10. changes firmer; quotations (in United States dollars] Great Britain, de- mand, 4.57 §-16; cables, 4.57%: sixty- day billy on banks, 4.543%.° France, demand, .0595; cab] 0595%. Italy. demand, .0430%; cables, .0431. Bel- gium, demand, '.0493; ‘cables, .0494. Germany, .000004; cable 0000041 . Holland, demand, .3907; cables, .3910. Norway, demand, .1620. Sweden, de- mand, .2630. Denmark, demand, .1725. Switzerland, demand, .1728. ‘Spain, demand, .1445. Greece, demand, .0805. Poland, demand, .000006%. Cwecho. slovakia, demand, .0302%. Argentin demand, .3450. Brazil, demand, .1062. Montreal, .97%. NEW YORK DAIRY PRICES. NEW YORK., July 10.—Butter— Firm; receipts, 17,885 tubs; creamery, higher than extras, 39a39%; cream- ery, extras (92 score), 38%; do., firsts (88 to 91 score), 36a38. Eggs—Steady; recelpts, 33,603 case fresh gathered, firsts, 25a26%; do.. seconds, 23a24; state nearby and nearby western hennery whites, firs to extras, 32a39: Pacific coast whites, to extra firsts, 36a38%. eceipts, 286,163 STRIKE HALTS ACTION. LONDON, July 10.—Owing to labor difficulties in the wool warehouses, in consequence of the dock strike, the London wool auction sales have been suspended. They will be resumed July 17, it was announced, if oir- cumstances permit, | i | | The market STOCK EXCHANGE | | Grain, Produce and| Live Stock Low. Closs.| LOCAL WHOLESALE MARKET. Erratic was what dealers reported of the condition of the spring chick- en market this morning. Receipts are 84% |light and demand slow, prices being somewhat lower than last week. The market on fowls was reported as being strong. Supplies are scarce- ly equal to the demand, dealers said, and prices are keeping up. Dealers report an unusually large supply of chickens much smaller than usual at this season. Large spring chickens are scarce. There has been no change in the g8 market the past couple of day: remains strong, with supplies not much greater than de- mands. Eggs—Strictly fresh, selected, can- dled, per dozen, 27a28; average receipts, 25; southern, 24. Live poultry—Roosters, per Ib., 13; turkeys, per 1b., 25; spring chickens, per Ib., 40ai8; keats, young, each, 40; fowls, per Ib., 26, Dressed poultry — Fresh - killed spring chickens, per Ib.. 50a55; win- ter chickens, per Ib., 35; hens, per 1b. 28a30; roosters, per Ib. 20; tur- keys, per 1b., 35a40; ke: young, each, 70a80. Live stock—Calves, choice, per Ib., 9%; medium, per 1b., 9; thin, per Ib., 6a7. Lambs, spring, per 1b., 14; jlive pigs, 3.00a5.00 each; live hogs, per Ib., 83 Green fruits—Apples, new, per bas- ket, 1.00a2.60. California oranges, per crate, §.00a6.50; Florida, 5.50a7.00. Lemons, per box, 8.00a11.00. Grape- frult, 4.00a4.50. Blackberries, per qt., 10a18. Peaches, 2.00a4.00. Cantaloup standard, 3.50a4.00; pony, 3.00a3.50; flats, 1.50a1.75. Black raspberries, 20a 25; red raspberries, 25a32%. Vegetables—New potatoes, per bbl., No. 1, 6.50a7.00; No. 2, 2.00a3.00. Carolina yams, 3.50a4.00. Lettuce, per crate, nearby, 75a1.50; New York, 1.00 al.i5. Romaine lettuce, per crate, 76 1.50. Cabbage, nearby, 2.00a2.50 per bbl. Eggplant, per crate, matoes, i3 bu.’basket, n Mississipp!, 32 bu. : Beans, 5.00a6.00. Peas, 2.00a3.00 per Dbasket. Peppers, per crate, North Caro- lina, 1.0022.00. Kale, per bbl., 1.35a1.50. Spinach, per bbl., 4.00a5.00. Celery, per crate, North Carolina, 2.00a6.00. Squash. 1.00a1.50. Florida lima beans, 2.00a3.50 per basket. GRAIN AND PROVISIONS. BALTIMORE, Md. July 10 (Spe- cial) —Potatoes, new, barrel, 1.30a 6.00; 100 pounds, 2.06a3.75. Aspara- gus. dozen. 1.50a4. beans, _bushel, 75a1.50; Jima beans, bushel, 2.50a3.50; beets, '100, 5.00a7.00; cabbage, 100, 7.00a14.00; ' carrots, 100, 4.0026.00; corn, dozen, 15a40; cucumbers. bas- ket. '1.00; eggplants, crate, 2.00a3.50; lettuce, bushel, 50a1.00; onions, bushel, 1.00a1.50: peas, bushel, 2.50a 3.00; peppers. basket, 2.00a2.25; rhu barb, 100, 4.00a5.00: spinach, bushel, 1.50a2.00; squash, basket, 50a60; to- matoes, basket, 2.00a2.50; apples, bar- 2 .50: bushel, 1.00a1.75; bas blackberries. quart. 10a15 crate, 1.23a3.75; cherries. pound. 10a20; gooseberries, pound, 6a8; grapefruit, box, 2.50a4.00; huckle- berries, quart, 15a20; oranges, box. 4.50a6. peaches, crate, 1.26a3.00; pineapples. crate, 3.0024.00; rasp- berries, pint, 8a12; watermelons, 30a60. Settling Prices on Grain. 5 _Wheat—No. 2 red winter, spot, 1.14; No. 2 red winter, garlicky, spot, 1.081. Sales—Bag lots of nearby at 1.02, 1.03, 1.04, 1.05 and_1.06 per bushel: cargoes on grade, No, 2 red winter. fa:l‘ick)’. 1.09%; No. 3 1.06%; No. 4, Corn—Cob, new, 4.75 per bbl. tract, spot, 923 per bu.; No. 2 corn, 941 track corn, yellow, No. 2 or better 1.03%2 and 1.04 per bushel. Sales—Car lot of No. 1 mixed, do- mestic, at elevator at 1.03% per bushel. - ats—White, No. 2, 51 and 52 per bu.; No. 3, 50% and 51 per bu. e Rye—Nearby, 75a85_ per bu.; No. 2, western export, spot, 76. Hay—Receipts. 46 tons; market for old hay is firm at a range of 19.00 to 23.00 per ton. New nearby hay arri: ing mostly in heated condition, is selling strictly on merit at slightly lower prices than for old hay. Straw—No. 1 tangled rys, 15. 16.00; No. 1 wheat 12.50a13.00; 1 oaf, nominal, 14.00a15.00. TODAY'S CHICAGO PRICES. CHICAGO, July 10.—Favorable weather to retard black rust had .; con- a No. bearish effect on the market today dur- | ing the early dealings. Harvest con- ditions in the winter crop region were also auspicious, and hedging sales of new wheat tended further to depress values. On the other hand, bulls point- ed out that the chief probable surplus yield shown by the government crop report is west of the Rockies, and that the amount of wheat in farmer's hands is only 5,500,000 bushels more than last year.” Opening prices, which ranged from- % to 1% lower. September, 1.02% to 1.03, and December, 1.053% to | 1.05%, were followed by a little further set back and then something of & rally. Corn and oats were easier with wheat. _ After opening % to % lower. September, 76% to 763 the corn market weakened a trifie more and then recovered somewhat. Oats started a shade off to half-cent up; September, 35% to 35%. Later the market underwent a slight sag. Lower quotations on hogs weakened the provision market. WHEAT— Open. 1.02% 1.02 September December LARD— September October RIBS— September October . 115 1125 9.20 DAIRY PRODUCTS. BALTIMORE, Md. July 10 (Spe- cial).—Live poultry—Spring chickens, pound. 35a38; leghorns, 30a38; old |hens, 23a26; leghorns, 20; old roosters, 14a15; ducks, 14alS; spring ducks, 28a30: pigeons, pair, 25a30. Eggs—Loss off, native and nearby firsts, dozen, 34; southern, 22, Butter—Creamery, good to fancy, 37a40; prints, 40a42; nearby cream- ery, 36a38: ladles, 34a35: rolls, 30a 32; store packed, 29a30; dairy prints, a32. CHICAGO LIVE STOCK MARKET. CHICAGO, July 10 (United States Department’ of Agriculture).—Hogs— Receipts, 39,000 head; slow. 10 to 15 bulk, 160 to 250 pound aver- 30a7.50; top, 7.55; bulk pack- £ows, ~6.00a6.35; few strong- Dig 6.5027.00; heavy- welght hogs, 6.50a7.50: medium, 6.75a light, 6.66a7.55; light light, 6.60 packing sows smooth, 5.90a 6.40; ‘packing sows rough, 5.50a6.00; Killing pigs, 6.25a7.00. Cattle—Receipts, 10000 head; beef steers, slow, generally steady to 16 lower: kinds of value té sell at 10.00 downward reflecting most decline rearlings mostly steady: killing qual ty fairly good: largely steer run; top matured steers early, 11.50: num- erous loads, 8.50a10.50; according to quality and’ condition; 'she &tock and bulls strong: spots ' higher; other classes generally steady: stockers and feeders gcarce; bulk desirable veal calves, 11.60a12.00 to packer: upward to 12.50 to outsiders: bulk d sirable bologna bulls, 4.90a5.15. Sheep—Recelpts, 2 ; fat lambs around 25 to 50 lower; bulle good and choice natives, 14.00a14.50; culls, 7.50a8.50; sheep steady; medium and handyweight ewes, ~5.0086.25; heavies strong, 3.50a4.2 TODAY’S SUGAR PRICES. NEW YORK, July 10.—The early| raw sugar market was unsettled, but prices were not changed, There was a sale of 10,000 bags of Cubas at 5%. cost and freight, equal to 6.91 for centrifugal. The raw sugar futures market was under reneweod liquidation, prompted by the unsettled feeling in the spot market. Prices at midday were 20 to 25 points net lower on active posi- tions. Stop-loss orders were encoun- tered on the decHne, and there was also considerable “selling by Wall sireet and Cuban interests. POSTAL RECEIPTS MAKE BIG GAINS New Bond Offering—Local Exchange Active—Bankers Planning Vacations. The fiscal year ended June 30, last, saw an increase of 12.16 per cent in postal receipts, based on returns from the fifty selected cities, which is next to the largest gain ever recorded in the postal service for a year in which there were no changes in postage rates. The only exception is the year 1918, when the war revenue brought receipts for the fifty cities up more than 15 per cent over the previous year. The previous high-water mark for a normal year was 11.76 per cent. made in the fiscal year 1903 over 190 It is estimated that the entire pos tal revenue for the fiscal year 1923 will reach $533,000,000, as compared with $484,893,000 for the previous year. Recelpts for June, 1923, In the fifty selected cities were 7.07 p cent greater than for June, 19 which. in turn, were 12.124 per cen greater than for June, 1921, makiny a total percentage of increase for the two years of 19.31 per cent. $300,000 Land Bank Offerin; The Potomac Joint Stock Land Bank will offer for public subscrip- tion tomorrow morning $500,000 of 5 per cent, thirty-year farm loan bon dated July 1, 1923. The issue was authorized at a special meeting of directors last night. The sale will be handled by Brooke, Stokes & Co. Greater working capital is the-sole object of the new flotation. The in- stitution is capitalized at $250.000. Wth a surplus of $25.000, but so great hay been the demand for advances on agricultural projects in Maryland and Virginia that the bank's officials deemed it advisable to issue the bonded Indebtedness. Not only {8 the new issue free of all federal, normal and surtaxes, but also free of tax in any state or d trict of the United States. For stance, municipal bonds of the state or townships in Virginia are taxable in Maryland and the District of Co- lumbia.” belng eubject to 4% mills, and conversely the sume {8 true Maryland munlcipals, but the Jo Stock Land Bank bond is mot onl free of all taxes in the District of Columbla. but is free of taxes in the state of Ohlo, where they are equiva- lent to $20 a bond a year, where not only are the majority of Ohi nicipal bonds taxable, but a nicipal bonds of other ‘states, Local Exchange Active. Trading on the Washington Stock Exchange grew more active this morning, the members expressing a decided preference for the investment side of the list. Capital Traction 5s were firm at 97, a total of $3.500 face value changing hands. while Railw: 6s were steady at 99%. Pepco. re funding 6s ed off to 1013 in late trading. after selling earlier at 102, and Rallway 4s were unchanged a 70% and thereabouts. Georgetown Gas 55 sold at 87. In the stock list Railway common recovered to 66 on restricted sales, after opening half a point lower, and | Gas was unchanged at 48 and slightly jabove. Capital Traction brought 983 Telephone Dividend Voted. Directors of the American Tele- phone and Telegraph Company have declared their regular quarterly divi dend of 21, per cent per share ox the outstanding stock of the com- pany. payable on Monday, July 16, to stockholders of record at the close of t ‘| business June 20. The stock is ory a definit: annual basis of 9 per cent U. S. Colnage During Year. Mints of the United States, during the fiscal year 1923 coined of gold, double eagles, 190,000 silver. 116,369,000 2 ued at $111.390,000: minor, 13.480,000 pleces, valued at $616.760, making total pleces colned 132,850,000, valued at $172,196.760. The total coinage of United States mints on June 6 was 303,000 pieces, valued at $5.799,000, of which double eagles amounted to 331,000 pleces, val- fued at $4,620,000. and silver d half dollars and Monroe dimes, 000 pleceg, valued at $1,179,000. Personal Mention. Maurice Otterback, president of the Anacostia Bank, will go to Penobscot Bay, Maine, on Friday, for a month's | vacation. Mrs. Otterback will accom- pany him. Maurice D. Rosenberg, president of the Bank of Commerce and Savings, will tdepart for California on July 15. for a two-month vacation. His family will laccompany him. { Y. E. Booker, chairman of the state bank division of the District Bankers' Association, leaves tomorrow for a short vacation, to be spent at the |fishing shack of Edward J. Steli- jwagen on the West river. { Eugene E. Thompson, president of the Washington Stock Exchange, is In New York on business. —— COTTON ASSOCIATION HEAD DISCUSSES SUIT Wannamaker Declares Morey Dam- age Case Is Counter Action to $15,000 Action. By the Assoclafed Press. ST. MATTHEWS, S. C., July 10.—J. S. Wannamaker, president of the Amer- ican Cotton Assoclation, when informed of the filing in New York yesterday of a sult by Francls Morey, assignee for the Milner Bureau of Atlanta, against the cotton’ assoclation for ! damages and expenses, declared in a statement that the suit was a counter action to a suit brought by the assoc tion agalnst the National Boll Weevil Control Association to recover §15.000, alleged to have been loaned to Dr. Miller Reese Hutchinson, head of the control bod: Mr. Wannamaker's statement added that the success of the American Cot- ton Association has aroused a bitter spirit of antagonism on the part of cer- taln powerful interests, which interest are Dbitterly opposed to certain of th fundamental principles .for which the association stands and to certain con- structive legislation it is advecating.” EARNS $6.40 PER SHARE. Pan-Amarican Peteolesm Company Reports for Six Months. SAN FRANCISCO, July 10.—Net earnings of more than $16,000,000, or $6.40 & share, on approximately 2,500,- 000 shares of stock outstanding, will be reported by the Pan-Americ: Petroleum and_Transport Compan for ‘the six-month period ending June 30, according to a story in today's San Francisco Examiner. LIGGETT STOCK CALLED IN. NEW YORK, July 10.—Louis K. Lig- gett Company, subsidiary of the United Drug Company, has calied for redemp- tion the 500 shares, $100 par, 6 per cent preferred, and has lssued 10,000 shares of 7 per cent cumulative first preferred, 100 par. There are also outstanding 8,600 shares of $100 par common. —_— HAS FOUR NEW WELLS. NEW YORK, July 10.—Westyrn States Oil Company, 'under the same manage- ment at Middle States, has completed four additional of the several wells it i drilling in the Osage Nation. The wells have not yet been gauged, but oil from wells in this locality of the highest grade produced In Oklahoma, running 11 gfavity or better, and commands a price of §2.20 a barrel. . - es, va e Jifus