Evening Star Newspaper, July 16, 1923, Page 24

® SUBARISSUES LEAD' | MARKET TRADING 24 Many Leaders Decline and Then Make Up Part of Losses—Steels Firm. BY STUART P. WEST. Speelal Dispateh to The Btar. NEW YORK, July 16—Very little of interest happened in the stock g Prices opened lower, and at the end of the first hour were | off in some instance point i more from the Satur inal. But | these declines were, not accomparied | by any slling of consequence. were due chiefly to traders offerin and | FINANCLAL THE EVE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Ajax Rubber. .. Alaska Juneau.. Allfed Chem. ... Allled Chem pf. Am Agr Chem. . Am AgChm pf. . Am Bank Note. . Am Beet Sugar. Am Bosch...... Am Can. . Am Car & Fady.. Am Chain (A) Am Chicle Co. .. Am Cotton Of1 AmH & Leath. . AmH & Lea pf.. Am Tce. Am Interna 5 Am La France. ., Am Locomotive. | Am Raatator. Am Roll M1l pe Am Safe Am Ship Am Smelting Am Steel Fdy. .. Am Sugar. .. Opea. High. 7 1% 87 107% 14 36% 8% 31% S81% 8814 152% 21% 1% 4% 10% 66Y% 80 97 5% 11% 5& B8% 244 the list down in the hope of ‘inducing |\ re¥arorh e J0 When it was found not coming out these tame traders set about gover- ing in their short contracts, and prices hardened again all around. The firmness of the stecis was | noticable in of the aecounts of | red: activity and downwara tonde uotations received over the weck end. These stocks had pretty well discounted the falling off in the steel industry during the last; month. Selling In Studehaker. With all that is being said about the slow down in the motor and re- lated trades the second half these like the steels, Some profi selling _occut aturday and again 1 liquidation, tocks were re that W stocks, taking and Ted in Studebaker th mg L4 But the re su stantial buvers of a weck and weeks ago who toak their position | Studebaker on bette than a 10 t basis was a4 good business| 1vest ave not s The | th of Hudson Motors around as notable Th v o been p: wo di. i at curnings keep- ke present vol- ts may be of $12. Wi ing on in anythir ume, these exira axpocted to continue. As a $3 stock, Hudson, where it is now quoted, is selling on « 125 p nt basis Burns' Brothers Earnings. Rurns Brothers stocks did-compar- atively little, but intercst was tax in the carefully prepared statement| showing what the company is now It appears that the recent) jons of §20 a share on_ the re rather too high. It is that current earnings ¢ rate of about $15 ! business as steady ers, is re- | garded an ample safety margm | over the $10 requirement. | t is understood that a block of | several thousand shares of the A stock was recently taken over’from| & holding which had become impaired | by the recent break. This stock has | since been placed among investors Hurried Covering in Sugars. | Following the marking up of sugar | the leading refiners there hurried covering in rom “the re n reached 27, as against ex- v of 23%;. The oils were off, gome of them as much as a point in the forenoon trading. but in the aft- | crnoon regained a good part of this' . 1o The market was so dead, how ever, that no efforts were made in an. direction to put up prices. Pool opera- tlons were suspended even in special- ties which pt to be taken in hand at such a time. Over-Sunday Reports. Over-Sunday reports from industrial centers emphasized the slowing down of ac ity in steel and textiles and the reduction In the general volume of retail trade. The price index compiled by Prof. Irving Fisher showed another decline during the past week. Taking 100 as the pre-war standard, the present aver- age is 153 as against 156 a fortnight ago and 168, the high of the year, in the | first week of Apr] In connection with the'recent strength in Vanadium Corporation stock several Tumors have besn heard in the street, among them that a new pool has been attempting to make a better market for its specialty. Last year Vanadium showed a net of slightly less than $300.,000, or the equivalent of little more than 50 cents a share on the stock, as against noth- ing in 1921, when the last dividend was paid. Ameriean Water Works Strong. One of the points of strength among miscellaneous issues wa the Amer- jcan Water Works and ctric Com- pany common stock. The 6 per cent | preferred alo did well. Dividend on the common cannot be looked for until the full § per cent is paid on the participating preferred. Water Works is now earning more than enough to pay the 7 per cent preferred and 6 per cent on both the partici- pating preferred and the common. A higher dividend on West Pann Com- pany shares would, it is believed, lead at once to higher dividends for hold- ers of the parent company's stocks. MAREKET CLOSES STEADY. Buyers Await .Developments Ruhr Problem. By the Associated Press, NEW YORK, July 16.—Week end developments in the Ruhr problem | caused a change in speculative opin- | ion, and vrices were pushed sharply for a time in todav's extremely duil stock market. The short selling, however, failed to bring about any outside liquidation, and prices stif-| fened slightly on & small amount of short covering. Sales approximated | 275,000 shares. . i The closing was steady. Trading was almost at a standstill in_the final hour. Buvers were unwilling to extend their commitments in view of the general uncertainty, while the shorts also hesitated because of a| seeming Scarcity of stocks. What- | ever trading there was moved at| slightly higher prices. in GERMAN BANK REPORTS FINANCIAL STANDING By the Assoclated Pross. BERLIN, July 16—The statement of the Bank of Germany as of July | 7 shows the folowing changes: Total coin and bullion increased | 1.046,523.000 marks, gold decreased 10,001,000, treasury and loan assocla- tion noteés increased 417,255,255,000, | notes of other banks increased 84, 418,000, bills of exchange and cheque increased 1,686,662,751,000, discount and treasury Dbills' increased 3,608 029,156,000, advances increased 86,-| 917,611,000, investments decreased 89,- 097,000, other assets decreased 210, 659,665,000, notes in circulation in- creased 2.950,721,616,000, deposits in- creased 2,139,337,695,000, other liabili- ties increased 399,187.641,000; total gold holdings 706,911,000 = 'marks, whereof 130,032,000 i3 deposited abroad. VISIBLE GRAIN SUPPLY. NEW YORK, July 16.—The visible &upply of American grain shows the following changes: Wheat, decyeased 1,719,000 bush- els; corn, decreased 365,000 bushel oats, decreased 1,177,000 bushels Tye, decreased 1,908,000 bushels; bal ley, decreased 268,000 budhels. TODAY'S METAL MARKET. NEW YORK, July 16.—Copper, quiet; electrolytic, spot and futures, 14%." Tin, steady; spot.and nearby, 38.25; July, 38.12. 'Iron, steady, No. 1 northern, 6.50a27.50; No. 2 northern, 26.00227.00; No. 2 southern, 25.00a27.00. Lead, quiet; spot, 6.00: Zinc quiet; Jiast St. Louls, spot and nearby, 6.15. Antimony, spot, 6.85, 6.85a6.90. { Coi Am Tobacco. ... Am Tobpf (n).. Am Water Wka. Am W W 6% pf. Am W W 70 pt Am Woolen. Am Woolen Anaconda. Atchison. Atchison pf, Atlantic Guif. .. Atl Gulf pf.. Atlantic Raf Atlas Tack Raldwin Loco. Raldwin Loc pf. Balto & Ohio. .. $Barnesda Ratopilas Min Reechnut Pack. Reth Steel . Bklyn on. . Bklyn Rap Tran Bkiyn R war 2d.. RBurns Bros (A). Burns Bros (B). Bush Term pf Butte Conper. Butte & § Caddo Oi1 Calif Patrol Calif Petrol vf.. Callahan Zinc. . Canadia Cent I Chandler Mot. Chi & Alton.. Chi Gt West. ChiMI & StP. ., Chi Ml &St P p? Chi & Northwne ChiR1& Pac... Chile Copper Chino Copper. .. Coca-Cola. ... Colo & South . Columbia Gas Columbia Graph Columbn Carbon Comp Tabulat Cons Cigar s Gas of NY. Cons Textile Cont Can... . Continental Mot Corn Produc cden & Co “uban Dom'can. amel Fruit. . Del & Hudson. .. D Lack & West. Douglas Corpn. Dupont (EI)... Eastman Kodak Elec Stor Bat... Endicott-John. . Erf......... Erie 1st pf Erie 2d pf. Famous Players Fisk Rubber. ... Fd Mines&S pf. . Foundation Co. . Freeport Texas. Gen Am Tk Car. Gen Asphalt Gen Asphalt pf. Gen Cigar. Gen Electric.... Gen Elec spl Gen Motors. ... Gen Mot 6% deb. Gen Mot 7% deb. Gimbel Bros pt. Goodyear pf. Goodriel Granby Cjnsol.. | Gt Northern pt.. Great Nor Ore Greene-Canan. . Gulf M & Guif St Steel. . ! Harbishaw Cab. Hayes Wheel . Househ'd Prod. . Hudson Motor: Hydraullc Stl... 111 Central pf. Ind Oil & Gas. Indiahoma.. Indian Refining. Inland Steel. Iaspiration. Interb Rap Tr. In Ag Chem pf.. Int Cement. In Combust E. Int Harvester. .. Int M Marine pf. Int Nickel. Int Tel & Teleg. Invincible Oil... Jones Tea.... Kansas & Gulf.. Kansas City S Kelly-Spr Tire. . Kennecott. . Keystone Tire Kresge (SS) Lehigh Valley. . Lig & Myers pf. Lima Locomo. .. Loews Inc. Lorillard (P). Louls & Nash. Mack Trucks. Macy Copf... Man El inv guar Market St prior. Marland Oil. Maxwell (B) Mclntyre Por. Mex Seaboard Mex Seabd ctfs. Miami Copper. Middle St Oil Minn & St L (n). Mo Kan & Tex.. Mo K & Tex pf.. Mo Paclfic. . Mo Pacific pf. Montg'y Ward.. Moon Motors. Mother Lode. Nash Motors. ... Nat Biscuit. .. .. Natl Biscuit pf. . Natl Lead. ... Natl Ry of M 2d. Nevada Copper. N Y Air Brake. Y Central. YC&StL pf(n). NYNH&Hartfd. NY O & Westrn. Norf & Western. North Amer. North Pacific. Nunnally Co Otis Elevator. .. Otis Elev pf. . Otis Steel . ‘Owens Bo! oo Pac Gas & Elec. Pacific Ofl. . Packard M . Packard Mot pf. Pan-Am Pete. .. Pan-Am P\(B).. Pennsylvania... Penn Seabd Stl. Peoria & East. Pere Marquette. 102 .. 108 144% 102 36 A3 90% 84% 40 99% R3Y, | Atlan Cst Line. . 113% 104 W 6814 46 1 1R% 120 211 0% 3% 25% 18% % 28 3215 1 474 73 21 59% T 45N T4 120 39% 57 104 113% 13% 118 106% 55 67 111 184 12% 71 81 3774 69% 1% 46 27% 63 83 175 11 13% 79% 97 49 2534 19% 65% 2814 18% 6% 11 49 k! % 33 304 23% 1% 111 5% 5% 5% 32 204 12% % 34 21% 7% 234 12% 65% 104 5618 % 17% 33% 847% 4% 214% 58% 113% 61% 4% 154 91 7L 111% 33 65% 387 11% 16% 12% 12 23% % z# 11% 81 20% 22% 8% 95% 40% 121 118% 3% 12 30% 97% 92 12% 16% 108% 20% 66% 8% 115% 100 8% 43 7 Low. :u W B6% 1064% 14 36% 78 81% 31% 87% 151% 21% 1% 4% 7 36 1 29% 12% % 84 214 % 23 12% 65% 10 66% % 17% 334 33% % 214% 58% 113% 61% 14% 154 91 71 111% 33 65% 38% 1n 16% 12% 12 23% % 4% 10% 27 11% 301 20% 2% 8% 95% 40% 121 113% 3% 11% 30% 97 92 12% 16 103% 19% 66% 8% 1154 100 8% 43 7 60% Close, 6% 1 66% 106% 14 36% 8% 31% 32 88% 152 21% 12% 4% 7 26 ol 19% 10% 67% 80 Ipitts & W Va. | Western Md. 32% 29t 12% % 34 21% 78 23 12% 66% 10 57% % 17% 33% 331 4% 2141 59 113% | 61% 15 154 1% 72 111% 33 66 38% 11 16% 12% 12 23% . A% 10% 27 11% 30% 20% 221 8% 95% 40% 121 3% 3% 11% 31% 97% 92 12% 16 103% 20% 65% 8% 11664 100 6% a3 7 34 12% 91% 1% 58 4“4 2% 9 2% Open. 8% 427% Plerce-Arrow. Phila Co pt. Phillips Pete. Plerce Oil. . Pierce Oil pf. Pitts Coal 59% 43 50 354 45 45% 101 115 50% 18% 101% 29% 10 11% 2% 46 15% 4% Postum Cereal Produc & Ref. Prod & Ref pf. Pub Service. Pub Serv §% pf. Pullman Co Punta Aleg Pure Ofl Rallway St 8p. Rand Mines. ... Rapid Tran Sec Ray Con Copper Reading e Reading Replogle Steel Rep Ir & Steel. Rep Ir & Stl pf Reynolds Spr. .. Rey Tobuc (B). StL & San Fran St L&San Fr pf. L Southwn. chulte Stores board Air L. ears Roebuck .. :neca Copper hattuck-Ariz hell Union. ... Shell Union pf. Simmons nelair Ofl suthern Rwy.. 32% 3 E N 51 32% 116 104 56 3 % Stand Ofl of N J. )il of N J pt, . & Tube pf. erling Prod. .. ewart-Warney rombg Carb. . udebaker. ubmarine Bt. 8y Superior O1l, 3 : 3 3 Tenn Copper 9ty Texas Compa 42% Tex Gulf Sulph 563 Tex & P C & Of1 104 Texas & Picific 181 Tide Water Oil. 100% Timken Bearing 874 Tobaceo Prod. 494 Tobacco Prod A 80% Tobacco Pro pf 109%, Tol St L&W pf.. 59 Trans Cont Oil.* 6% Underw'd(new). 40% Union Pacifie 130 Union Pacpf. .. Utd Ry Invpf... U S Cast I Pipe y. U S Indus Alco U S1Ind Aleo pe. U S Rubber...... U S Smelt&Ret 78 Steel. B U Utah Copper. Utah Securities. Vanadlum Corp. Vivadou Wabash pf (A) Waldorf (new). Wells-Fr Exp. . West Elec pf West Pacific. . Western Union. West Air Brke. . Westhse E1&M. White Eag Oil. White Motor White Ol Wickwire . Willys-Overld. Willys-Overl pf. Woolworth. . Youngstn Tube. .\ High. Low. Call Money..... 5% 4k HOURLY SALES OF STOCKS. 1lam.....113000 12m. - 160 300 1pm.....194300 Zp.m..... 220200 DECEMBER WHEAT 613 6334 2303 64 630 23018 64 64 ALSO UNDER §1] Grain Goes Lower Again Today.! September Off to- 96 1-2 Cents Per Bushel. 16.—In the trading today, as a result of per- sistent hedging sales, the wheat mar- ket gradually declined, and for the first time at this season sinee 1914 December delivery than $1.00 ‘a buyshel. Prices closed heavy, 11, to 13 net lower, with Sep- tember, 9515 to 963, and December, 99% to 99%. FEDERAL TRADE CAS! TAKEN UP IN CLEVELAND By the Associated Pres : CLEVELAND, Ohio., July 16— Hearing of a complaint against the Brooks Oll Company, Cleveland, on charges that they had sold paint marked “United States Quality Brand” to so-calied Army and Navy | stores, was heard by United States Examiner Dineen of tae Federal Trade commission here today. The hearing was adjourned until July 18, at De- troit. The Cleveland Oil Company officials deny criminal intention to mislead patrons. TODAY’S SUGAR PRICES. More Activity Shown in Raw Mar- ket—Refined Steadier. NEW YORK. July 16.— Increased activity and a firmer undertone ap- péared in the raw sugar market to- day. Evidently reflecting a begter de- mand for their refined product, local refiners bgught 39,000 bags of Porto Rico’s July shipment at 7.03 and 7,000 bags of Cuba's late July and early August at 6% cents, cost and freight, equivalent to 7.03. duty paid. Raw sugar futures.” after opening rather quiet at 2 to 4 points decline, developed greater activity and strength on reports of higher spot prices, and during the forenoon ad- vanced 11 to 20 points above the pre- vious close. Refined sugar was more active and steadier. One refiner advanced the list price of fine granulated to 8.66. The others remained at 8.50. PARIS MARKET UNEVENR. PARIS, July 16.—Prices moved ir- regularly on the bourse today, Three Der cent rentes, 56 francs 37 centimes, Exchange on London, 78 francs ‘56 centimes. Flve Der cent rentes, 75 francs 45 centimes. The dollar was quoted at 17 francs 6% centimes. NEW YORK EGG PRICES. NEW YORK, July 16.~Eggs—Weak; teceipts, 9,841 cases; fresh gathered extra. firsts, 27a29; do., firsts, 243%a26; do.. seconds and poorer, 21a4; New Jersey hennery whites, locally select- ed extras, 4la45; nearby hennery whites, locally selected, extras, 41a43; state nearby and nearby western he nery whites, firsts to extras, 32a4 nearby hennery browns, extra: g Pacific coast whites, extras, 38a40; do., firsts to extra firsts, 32a37. BAR SILVER QUOTATIONS. NEW YORK, July 16—Bar silver, 62%; Mexican dollars, 48, LONDON, July 16.—Bar silver, 30%d per oun: money, 2% per cent. Discount Short bills, 3% per three ' months bills, ° 85-. 6 per cent. _ late ! the | 25 sold at less | AN G ' STAR, WASHINGTON, D .C! MONDAY, JULY 16, 192 "ON NEW YORK BOND% STOCK EXCHANGE | Received by Private Wire Direct to The Star Office. BOND QUOTATIONS MOVE BUT LITTLE French Issues Being Closely Watched—U. S. Loans and High-Grade Rails Firm. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, Prices moved over a Very Narrow runge. In general It may be sald that while there were fractional re- cesslons in the more speculative s sues the general market held remark- jably well considering the unfavor- Jable tenor of the news. ‘ French bonds were closely watched for any possible effect upon senti- {ment of Premier Poincare's anyleld- ing stand. The effect was almost nil. French 7%s and 8s opened {slightly higher and then reacted, but only to such a small amount that the change was without significance. | Belgian bonds at ‘one time were actually higher. 1f the situation abroad is really worse the bond mar- \ket fails to reflect it. It seems to be the opinion of both investors and { speculators that the logic of events { will compel a settlement of the rep- |arations problem | The otlier adverse feature of the i general financlal situation, the low price of wheat, may have been respons Isible for some selling of such railroad {bonds as the St. Paul issues, dut even here the net change was very slight {and could be accounted for on other “nrmmdn than that of the africultural distress which would be bound to af- | fect unfavorably the prosperity of thy { territory through which the northwest- {ern roads operate. 1 United States government loans and {high-grade rails and industrials were iquietly ere was a liitle buying jof General Electric 3128 of 1942, usual- y an inactive issue. Sales were on {atout a 5.2 per cent basis. The steadi- {ness in issues of this class has been | very noticeable for some time now. It seems to indicate no expectation of any considerable advance in money rates. International Mercantile Marine 6s jrailied sharply from their low of last {week. Hudson and Manhattan refund- !ing 5% and income 5s were firm. Some 3| of the New Haven issues were a shade {lower. | |PRICES OF COTTON DROP IN TRADING Promise of Showers Helps to Cause Quite Sharp Declines in Futures. Traction bonds were steady. Iy the Associated Press NEW YORK, July 16.—Cotton fu- tures opened barely steady: July. 27.00; October, 23.90; December, 23.40; January, 23.14; March, 23.08. The el 4 {market was Irregular and unsettled iduring today's early trading. The learly weather news did not indicate actual break in the southwest- ern dgpught, but there was a prospect for showers, which evidently rendered the market a little more sensitive to the poor iiverpool cables and un- ifavorable views of European political feonditions. As a result, the market {opened at a decline of 25 to 31 points. land the active positions sold about 133 to 37 points net lower during the ¢ trading, with July declining to 5.56 and October to 23.84. v v ORLEANS, July any 18.—Cotton weather over the greater part of the belt, together with poor cables and an unfavorable view of foreign politics, put the cotton market lower today. In the first hour of the session prices lost 27 to 43 points, Juiy dropping to 26.33 and October to 23.02. Selling was scattered, but the market had little support from any direction. NEW YORK, July 16.—Cotton fu- tures, 11:45 a.m.—Bids steady; July, 26.94; 3.82; December, 23.29; March, blank. NS, July 16.—Cotton E Bids steady: July, October, 23.11 asked; Decem January, 2280 asked , 22.70. NEW ORLEANS, July 16.—Cotton futures closed steady at net decline of 32 to points. July, 26.22; Octo- ber, 2: December, 22.82a22.84. January, 2, March, Spot’ cotton, dull, 63 Sales on the spot, none: none. Low middling, 26.01 27.00; good middling, 27.50. {401; stock, 58,889, ——_— WESTERN UNION INCOME. NEW YORK, July 16.—The report of the Western Union Telegraph Com- pany for the six months ended June 30, 1923, with June estimated, shows net incocme after taxes and charges {amounted to $6.802,603, equivalent to $6.81 a share, against $5,593.177, or §5.70 a share on the $99,786.727 capi- tal stock outstanding at the end of last year. Gross revenues, including dividends and interest, amounted to ints lower. to arrive, ; middling, total expenses were $48.141,299, against $43,856,579 in the same period of the previous vear. | McCRARY STOCK SO, NEW YORK, July 16.—Merrill, Lynch & Co. announce that the unsubscribed portion of the $3,000,000 McCrory Stores Corporation 7 per cent cumulative pre- ferred stock, recently underwritten by them, has been sold. ~The price was $100 per share without warrants and $102 per share with a warrant, entitling the holder to purchase one share of new non-voting class “B" common stock on or before December 31, 1930, at $40 per share. “The corporation operates 165 five- and-ten-cent stores in nearly all the states east of the Mississippl river. ———— ‘WOOL MARKET DULL. BOSTON, July 16 (Special).—The wool market continued dull "today and expectations were that this con- dition would remain unchanged through the week. Holders were not discouraged over the slack demands. They felt that the opening of the American Woolen Company next Monday will show that they exer- cised good judgment in buying heav- ily on the western ranges early in the session. 'DRY GOODS MAREET. NEW YORK, July 16 (Special).— The beginning of a new week found prices steady but demand light in the cotton cloths market today. Re- ports of extensive curtailment at the mills turned brokers to the belief that more activity will be shown shortly. Print cloths remained at Saturday's levels, the 64x60s Ing quoted at 9 cents and the 68x72s at 10% cents. Dullness was noted in the raw silk market both here and in the orient. No sales were reported from Yoko- ama. CHICAGO, July 16. receipts, 18,109 tubs; creamery extras, 37; standards, 37; extra firsis, 35 ig; firsts, 34a3b; seconds, 33a33 o 19,586 Receip di rots, nary 8, firsts, 24% July 16.—It was a|Belgium 6 very dull day in the bond market. | Belgium ! ) Receipts, | Phila Co ref 6s A } | 1 $56,097,327, against $50,603,181, while | Unit Drugcv 8s L] 1Int Mer Marine 6s. | Morris&Co 1st 4128 (Sales are in §1,000.) conds. 32.) Close. 100-12 98-10 98-12 98-11 (Fractions r Example: Lib3%s...... Lib 2d 4s Lib 1st 4% Lib 2d 4%, Lib 3d 4%, Lib 4th 4% US4%s 1952, 58 100-15 100-12 25 9815 98-10 350 %5 Seko a0 49 99-30_ 99-24..99-28 FOREIGN. les. High. 102% N% 100% 95% 100% 109% 87% 79% 824 96% 100% 101% 100% 99% 101% 102 102% 90% 99% 2% 108% 96'% 1% 98% 96% 20 97 94 93 Low. Close. 101% 102% 91 91 100% 100% 95% 95% 100% 100% 109 108% 87 87 78% TE% 52 82 964 96% 100% 100% 1014 101% 100% £00% 99 99% 101% 101% 102 102 102 102% 90% 90% 99% 99% 92% 92% 108% 108% 96% 96% 9% 91% 96 964 95% 964 90 90 96% 96% 93% 93% 921 92% 93 93% 92 92% 80% 80% 77 1% 8% 79 T8% T8k 53% bB63% 33 43 101 101% 97 97 91% 91% 2% 2% T6% oY | 106% 1064 1007% 100% 93 93 92 92 95t 954 5% 864 68% 69 8l 82 115% 115% 112% 112% 102 Argentine 7s Austria 7s ctf, Belglum 7%s Bern 8s.., Bollvia 8s Bordeaux 6s. Canada bs 1926 Canada 5%s 19 Canada b8 1931 Canada bs 1952 Chile 85 1946. . Chile 88 1926 Chile §51941...... Copenhagen 5%s. . Cuba 5%s w i Czechoslovakia 8s. Denmark 8s Denmark 6s. Dutch E15% Dutch East I 65'47. Dutch East I 6s'62, Framerican 7%s French Govt 8s. .., French Govt 71;a.. Haiti 65 ctfs Japanese 1st 415 Japanese 2d 4% Japanese is Jergen U M 6 Lyons 6s. Marsellles 6 Mexico 5 Prague 7%s. .. Queensland 7s. . Queensland 6s..... Rio de Jan 85 1946, Rio de Jan 85 1947, Rio Gr Do Sul 8; B Seine, Dept of, 78 Serbs Crotes Slo 88 Soissons 6s. ... Swiss Confed 85 Ud Kingm 513829, Ud Kingm 5338 °37. 14 Uruguay 88 S Zurich 8s. 3 ISCELLAN Am Agr Offem Tiis 21 Am SmIt&R 1t bs. 17 Am SmIt&R 8s. . 18 Am Sugar Ref 6s.. 18 AmMT&Teves.... 1 AmT& Teltrbs.. 8 AmT& Tcltrds.. 27 Anaconda ev db 7s. 36 Anaconda 18t 6s. .. 44 Armour & Co 41 Atlantic Refin 68 Bell Tel Pa bs rets. Eeth Steel 6325 '53. Beth Steel rf 6s. . Beth Steel pm 5s Beth Steel s £ 6s... Bklyn Edison 7s D. Bklyn Ed gen 5 Busi T Bldg 6s '60. Brier H St 1st 534s. Central Leather b8 Cerro de Pasco 8s.. Chile Copper §s. Commonwth P 6s. Con Coal Md 1st 5. Cuban-Am Sug 8s. Det Edison ref 6. . Diamond Mth 7143, Du Pont de N 7%38. 82 116 12% 102 1034 103% 109% 109% EOUS. a1y 87% 89T 89N, 101% 101% 1024 115% 974 92 100 9i% 83 8% 974a 90 93% 834 98 { 874 | Empire F&G 7%s.. Fisk Rubber 8s Gen Elec deb 5s. Goodrich 6345 Goodyear 8s 1931 Goodyear 8s 1941. . Humble O&R 51;5. 11linois Bell 1st bs. - 154 | Int Paper 1st 58 A. Int Paper 18t 6s B. Kayser (J) 7s..... KCP&Lt5sA'52 Kelly-Spring 8s. .. Lackawa S 6s '50 Liggett & Myrs bs. Magma Cop ev 7s. . Manati Sug sf Tiz8 Marland Ofl 713s. . Mich St Tel 1st 5s. Midvale Steel 5s. .. Montana Power 5 Nat Tube Ist 5s New Eng Tel 5s. dsn 1st 6l3s. YG EL H&P bs. .. NY Tel 6541 N Y Tel6s'49 NY Tel dts.... N Am Edison 68 N States Pow bs. .. Northwst B Tel 7s. Otis Steel 7 2 Otis Steel 83 Pacific Gas & El 53 91 v2y | 90 107% | 914 | 5% | 90% 100% 843 109 99 96% 94 96% 967 | 85% ¢ 99% | 104 | 105% | 9415 106% | Y6'a 1103 | 86% | 105% | 1024 874 79 61% 1038 92% 461 954 By 104 Public Service 5s. . Punta Alegre 7: Sharun St His Sinclair Ofl 7s. ... . Sinclair Of1 63 w i Sin Crude Of1 515 Sin Crude Oil 68 Sia Pipe Iine 5s. So Por Rico Sug Ts. St Ofl of Colif 7s. . Steel & Tube 7s Tenn Elec Pow 6 Toledo Edn 1st 7s. . Union Bag & P 6s. DS 00 66 m O i G U1 1 01C8 e £3.00 1 et Gl G 19 08 e (R 0160 D RS 19 30 00 00 61 01 OIS 3 e OO IS €5 IS 0 b G5 e O 61 P Son U S Rub 1st 1t 5 U S Rubber 7 U S Steel s £ 5i Utah Pow & Lt bs. . V..-Car Chem 7s. .. Va-CarC . 7%8W. Warner Sugar 7s Wickwire Spen 7, Wilson & Co 1st 6s. Wilson&C ev 7%s. Wilson & Cocvés. 1 84% Winchester A'733s. 2 104 104 —_— FOREIGN EXCHANGE. By the Associated Press. <% NEW YORK, July 16—Foreign ex- | changes _irregular. Quotations in United States dollars: Great Brit- ain, demand, 4.59%; cables, 4.59 7-16; sixty days bills ,on banks, 4.56%. France, demand, .0384; cables, .0584%. Ttaly, demand, .0431; cables, 043135, Bleglum, demand, .0485; cables, .0485%. Germany, demand, .0000043,;_cables, .0000043%. Holland, demand, .3913; cables, .3917. Norway, demand, ~ .1623; Sweden, demand, .2650; Denmark, demand, .1748; Switzerland, demand, .1742; Spain, de- mand, .1430; Greece, demand, (0280; Poland, demand, .000008%; Czecho- slovakia, demand, .03; Argentine, de- 11, demand, .1045; 12 95% TREASURY CERTIFICATES. (Quotations furnished by lednmidl & Co.) jose.—— Bid. Ofter. s September 15, s September 15, December 15, 1928 » March 15, 1024 s Juse 10, ‘1024 ember 13 s bren 15, 1025 June 15, '1825. s March 15, Beptember’ 13, March 15, 1627. December 1 % ; SaassLmoAR. ‘CALL MONEY EASIER. NEW YORK, July 16.—Call money easler; high, 5; low, 4%; ruling rate, 5; closing bid, ; offered at 4%; last loan, 4 call loans agatnst ac- ce| mnm. 4 .';lfll‘e° lnu‘n firm; mlxzd ol Ix{ ninety days, ba ;. four to six months, 5a5%; prime paper, 5. o P Peorfa & E iR RAILROADS. Bales, High. Low. Close. | . 66% 56% 88% B9% 80k BOW 81% B1% 95% Ann Arbor 4s Atchison gen Atchison adj 4s. AtlanticCLel 4 B&Oprin3y B&OG6s. . Vds B&OSWdiv31gs B & O Toledo 4s. BKIRT 7821 ct BKLR T 7s'21 ctst. Canadian North 7s. Canad North 638 Cunad Pac deb 45. Car Clinch & 0 6 i Central Pacific 45. Ches & Ohlo cv bs Ches & O cv 4%s. . Ches & O gn 4s. . Chi & Alton 3% Chi B&Q 1st rf 5 Chi & E 11l gn bs Chi Great West | C M & Puget §d 4s. Chi M&S P ref 4165, Chi M&St P cv 68, . Chi M&S P ov 4155, C O M&SEP 4534 Chi Rys bs 2 ChiRT& Pac rt 4s. Chi Un 8ta 43%s. .. Chi Un Sta 614, . Chi & W Ind cn 4s. CCC&StL T 68 A Clove Term 5%s. . CbaRR58....... Del & Hd 1st rf 4s. De: & Hudson 5%s Den & Rio G cn 4s. D&RG1st rf 5s. . Det United 418 Erie 1st con 4s o con ext 78 47% 854% bT% 103 46% 49 51 103% 12 108 Erie conv 4s A ErfeconvasD.... Gr Frunk sf db 6s Grand Trunk 7s Gr Northgen 7s. . . Gr North gen 5328, Hud & Man ref 55 Hud & Man aj 11l Central ref 4s. . 111 Cent ref 55 '55. . 11 Central 5%s. Int Rap Tran 5s. .. Int Rap Tr 58 stpd. Int & G Nor aj6s. . Int & G Nor 1st 6s. Kan City Ft S 4s. . Kansas City S 3s. . Kansas City S 5s. . Kan City Term 4s. Lake Shore 45 '31. . Lehigh Valley 6s Louis & N uni Louis & Nash 5 & N nhat Ry en 4s.. rket St en Ry & L 5s. S1strfds.. prinSsA. a T i oal R nnmrnNE S NNERmGw ~aReamEnEa 3 cgnds... Montrl Tm 1st 5s. . O Tex & M in bs. Y Cent gen 3%s. Ydcnt deb 6s. .. N Y Centribs New Haven cd 65 New Haven d 48 57 ew Haven 7s . Haven Tafr.. k& Wends. rthern Pac 3s orthern Pae 4 Northn Pacr i 6s. . Northern Pac 5s D. O Short Len 5846 Short L ref 4s. Wash Ist rf 4s Pennsyl gen 5s. ... Pennsyl gen 43s. . Pennsyl 61:s 2 Permsy! gold 7s... con 435 e 4s. . Marqg 1st 3s. . N 1) wrENONARoRLOe Per Rapid Tran 6s w i. 107 ad 20 891 | s 31 | tL&SFpl6sC.. b'd A Ldssta.. b'd ALref 4s.. cab'd A Loadj bs. . cab'd A L con 6s. . ou Pacific cv 4s. Sou Pacific ref 4s. . Sou Pacific clt 4s. . Southern Ry 1st 5s. 2 Southern Ry &n 4s. southern Ry 633s. Sou Ry bile 4s. . Third Ave adj 5s Tol StL& Wis. .. Union Pac 1st 4s. nion Pac cv 4s. nion Pac cv 6s... Virginia Ry 1st 5s. ‘Wabash 1st 5s. Wabash 2d 5s. Western Md 4s. ... Western Pacific 5s. ‘Wisconsin Cent 4s. 0 €97 1% €54 | 108% | 93% 94% 84 60% | 79 6% TOTAL SALES (Par Value): | 11a:m.. 1732000 12 noon 2827000 1pm.. 3781000 2p.m.. 4671000 R NEW STOCK ISSUE IN AID OF BOXING! Madison Square Garden Puts Out 50,000 Shares—Other Wall Street Briefs. By the Associated Press. NEW YORK, July 16.—Investors were given an opportunity to take a financial interest in boxing today! when public offering made of 50,000 | shares of the New Madison Square| Garden Corporation Class A cumu-| lative participating preference stock of no par value at $20 per share. The| corporation has been organized ‘to: take over the Madison Square Gar-| den’ Corporation, including the box- ing and other athletic exhibitions staged by G. L. (Tex.) Rickard. Public offering was made today of $3,250,000 three and one-half-year 6% | xold notes of the Penn-Ohio_Edison Company’ at 98, to yleld about 7.15 per cent. Announcement was made today that the American Woolen Company would open its spring. 1924 season on July 23. . WILL BUILD 37 BRIDGES. INDIANAPOLIS, Ind., July 16.—The | Indiana state highway commission on | July 24 will open bids for the construc- | tion of thirty-seven bridges In twenty | counties, the combined cost to be about | $325,000. Two of the larger structures will 'be 198 fect long. ——————— The Age of Giants. ‘William Lyon Phelps, in Scribner's Magazine. l{: these page! 1 praised the pub+ lisherd of Augtstus Thomas' auto- biography for making it a light book. easy to hold. Just after reading my compliment Prof. F. W. C. Meyer of Rochester, received a German folio Bible printed in 1672, weighing twen- |. ty-five pounds, and the title page; bore this comforting legend, which I translate: “Now, however through the.grace of God, we have for the first time printed 'this book in com- i butcher: fortable and readable shape.” The old Bible readers were a hardy race. —_——— Applause .is forbidden {n .Russian theaters. o3 BT G g FINANCIA . f Grain, Produce and Liyg Stock LOCAL WHOLESAL'S MARKET. Buying was not very brisk this morning. It seldom is at this season, partly due to so many persons being out of the city and the usual de- creased demand in hot weather. “Shot to pleces,” was the remark of a poultry dealer. Spring chickens, in slow demand, are cheaper, the top price paid haulers being 35 cents. The market on fowls is steady, receipts ually decreasing. Not 0 strong was reported 6f the condition of the egg market. Supplics are ample to meet all demands, and prices are a trifle lower. Eggs—Strictly fresh, selected, can- dled, per dozen, 27a28; average re- ceipts, 25; southern, 24. Live poultry—Roosters, per 1b., 14 turkeys, per 1Ib., spring chickens, per 1b., 35a45 fowls, ‘per Ib., 26 Dressed poultry — Fresh - killed spring chickens, per lb., win- ter chickens, per Ib, 85; hens, 1b. 30; roosters, per 1Tb, 20; tur- keys, per 1b, 33a40; keats, young, each, 70a80. Live stock—Calves, choice, per Ib., 10; medium, per Ib, 9%: thin, per 1b, 6a7. Lambs, spring, per 1b., 12a13; ve pigs, 3.00a5.00 each; Ii hogs, per 1b., 83 Apples, new, per bas- alifornia oranges, per Florida, 6.00a7.50. Grape- Blackberries, per qt Lemons, fruit, 4.00a4 10a18. ' Peaches, loupes, standa pherries, 25a35 per bbl., . 2, 2.00a3.00. 024.00. Letuce, per ew York, 50a ne lettuce, per crate, 1.00a ge, nearby, 1.50a2.60 per geplant, per crate, 2.00a4.00. Tomatoes, 14 bushel basket, nearby, 1.5043.00. " Beans, 3.00a5.00 per bbl. 0a3.00 per basket. Peppers, , North Carolina, 1.50a3.50. : Spinach, per per _crate, York, Squash, 75a1.00. North Carolina lima beans, 2.50a6.00 ver basket lina yam . nearb, GRAIN AND PROVISIONS. BALTIMORE, July 18 (Special Potatoes, new, barrel, 2.00a6.50; bushel, 1.00a2.25. Asparagus, dozen, 1.50a4.00. Beans, bushel, 1.00a1.50. Lima beans, bushel, 3.00a2.50. Beets, hundred. 7.00. Cabbage, hun- dred, 6.00212.00. Carrots, hundred, 4.0026.00. Celery, dozen, 17sal Adozen, 10a3( Cucumbers, bas- 90al.10. Eggplants, crate, 2.00a 3 Lettuce, 50a1.00. Onlons, ushel,” 1.00a1 bushel, 2.50a 00. Pepp basket, 1.75a2.00. 20a25. Tomatoes, ; green, 1.25. Apples, bushel, 3. Blackberri; antaloupes. pound, 10a18 quart, 15a18. Huckleberries, quart, 15a20. Peaches, crate, 1.00a2.50. Pineapple. 3.00a4.50. Plums, basket, Raspberries. pint, 5a10. 2 red winter, red winter, spot, garlicky, Sales——Bag lots of nearby at 88, 90, 94, 96, 93 and 1.00 per bushel. Corn—Cob, new, 4.75 per barrel: contract; spot, 90 per bushel; No, 2 corn. yellow, No. 2 or 1.04 ‘per bushel. and 52 per per bushel. bushel: No. export, No. 2.rye, I hay is firm at a range of 19.00 to 23.00 per ton New nearby hay ar- riving mostly in heated con on is selling strictly on merit at slightly lower prices than for old hay. _Straw—No. 1 tangled rye, 15.00a 16.00: No. 1 wheat. 12.50a13.00; No. 1 oat, nominal, 14.00a15.00. DAIRY PRODUCT! JALTIMORE, Md —Live poultry—Sprin pound. 30a45; Leghorn ens, E T 16 (Spe- ickens, = 2 old £pring | 5a30. off native and nearby . 25; southern, 23a24. reamery, good to fancy, a4l: prints, 41a43; nearby 35a38; ladles, 34a35; rolls, Store packed, 29 y prints, 20a30, R aatny CHICAGO LIVE STOCK MARKET. (United States ulture).—Ho ad; best kinds ac- higher; others slow strong to unevenly higher than Satur- day’s average; bulk good and choice 160 to 240 pound averages, 7.60a7.70: t bulk_ 250 to 350 pound packing sows, best strong weight yweight hogs, : light, 60; pack- : packing killing pigs, spartment of Agr. Receipts, 57,000 h tive, 10 to 20 mostly 6.0 , around 7. 6.60a7. 50 6.50a7. Cattl 000 head; slow; uneven; most killing classes weak to 25 lower, beef stecrs and vearlings showing : t decline; run, vearlings predominating; kil 3 quaiity medium to Boodr stHony choice matured steers scarce: some held around 11.50: part load early. 11.25: bulk early sales beef steers and yearlings, 8.75a10.50, kinds at latter price ng mixed steers and heifers; canners. cutters. bulls and choice fat cows fairly active; steady to weak; bidding 50 lower on veal calves; going on packing account; packers bidding 10.50 mostly; outsiders, and picking. sparsely upward to 12.25 and above. Sheep—Receipts, 20,000 head; gen- erally steady on all classes and grades: western lambs, 14.90; lu]l)‘ bulk. good natives, culls, $00a8.50; California cli lambs, 1 one load clipped )‘Pl’”nflpge:. 1 bulk medium weight and heavy- Yeight ewes, 5.0046.50; heavles around 6.00; 14.00a14. TODAY'S CHICAGO PRICES. CHICAGO, July 16.—Low price rec- ord for the season underwent fur- ther weakness in the wheat market today during the early dealings. All dellveries dropped well below Satur- day's finish. Much enlarged country offerings of wheat to arrive here had a decided bearish influence, and so, too. had weakness in Liverpool quo- tations, together with pessimism re. sulting from Premier Poincare's talk about French relations with Ger- many. The opening, which varied from unchanged figures to %c lower, with September, 97% to 97%, and December, 1.00% to 1.00%, were fol- lowed by'a slight rally and then by another sag. Corn and oats were depressed by the action of wheat and by fairly iberal receipts of corn here. After \vening % to %c lower, September, T4% to 74%, the corn market’ re- cevered somewhat. Oats started a shade to 1c down. September, 34 to 34%, and held at about the 'initlal figures, Provisions were easier with grain i notwithstanding higher quotation on hogs. W July September December Open. December OATS— July Sep December LARD— September October .. RIBS— September October LIVERPOOL COTTON. LIVERPOOL, July 16.—Cotton spot increased demand; vrices firm; good middling, 16.04; fully middling, 15.94; middling, 15.79; low middling, 15.5¢ good ordinary, 15.04; ordinary, 14.74. Sales, 5,000 bales, chludln% 2,300 American. Receip none. utures closed barely steady; July, 14.72; Sep- tember, 13.64; October, 13.14; Decemn- ber, 12.73; January, 12 12.44; May, 12.32. 10.07 1103 11.00 1110 10.95 1105 ts, young, each, 40; | ver | 5.50a7.00. | North | largely steer | early | . | Arglo;American OIL 74 g | B i March, LOCAL BOND ISSUE PLAGED ON MARKET Obligations on Potomac Park Apartments—Firmer Tone on Exchange—Notes. An oftering of $450,000 of 7 per cent {safeguarded first mortgago seriai |gold bonds, dated July 2, 1923, anda maturing yearly untll July 2, 1933 was today placed on the Jocal ma {by . H. Smith Company, investmer |brokers. The issue is on the Potomac { Park Apartments to be erected on th | northwest corner of 215t and C stre northwest, adjoining Potomac Park and immediately opposite the prop- erty of the National Academy of ences. This property has un assessed valuation of $750,000. The obligatlons will be fssued in dc- nominations of $1,000, $500 and $100 {and will be sold at par and accrucd interest to yield 7 per cent | building will be a modern eight-s fireproof apartment building, {structed of reinforced concre fentry brick and limestons. {contain partments, with wood floors and tile baths. All L apartments will have the advantas. of outside view, light and air, ar will be served by two electric’ par senger elevators. A" first lien on, the income from the property, estimated at $87.00( annually, which is over two and one- halt times the greatest annual in- llor'al charge, is also offered as secur- ty. Stock Sales Concluded. The working capital deemed neces- sary to carry on the busine: of the National Mortgage and Investment Company having been acquired, the institution anncunces that no mors stock sales will be made. The Hughes Finance Corporation fiscal agents of the mortgage fi lh-’s! a osed of 80 per cent of e preferred lssue. allotied to it for sale it is sald, and arrangements have been completed for the surrender of their sales contract. People Saving More Money. A continued increase In_the ings of th cated by the latest national com tion just completed by the sav bank division the American Ban ers’ Association. Savings depos fn banks and frust companies of { United States were reported at §1 300,000,000 on Juns 30, 1822, the 1 |available nation-wide figures, as co red with $16,620,000,000 on Ju 30, 1921. This is an increase £630,00 or 4.1 per cent The £avings and time deposits ported on the two dates by the dif- ferent types ot banks were as follows, data for state banks other than mu- fual savings banks being combined with trust companies: Mutual sav: 8 banks, $5,682,812,000; state banks and trust companies, $7 2.000, and national banks, $3.629.491.000 The number of savings depositors, as indicated by the number of ac- ounts, shows an increase of 49 per cent, with the states reporting for fhe first time In 1922 excluded. The third annual repo of the savings bank division n school savings banking so shows increased Ameri- can thrift, 1, 029 pupils having savings accou during the year of 1921-: as against 80 during the previous vear Washington Stock Exchange. A siightly firmer tone ruled the Washington Stock Exchange this morning despite the paucity of trades. Capital Traction, which has been “off” during the past week, recovered to par, thirty shares being 1d, while three shares of Railway common at 6615 Indlcates a_stronger price for this security. ~Washington Marl stock was comparativ ¢ 38 and Lanston was un 75" Railway preferred amount of Pepco refundi changing hands. Personal Mention. C. J. Moynahan, assistant cashier of the Guaranty Savings Bank, ac- compgnied by his family, is tuking a itwo weeks' vacation in Chicago and Lake Michigan cities. Eugene E. Thompson, president of the Washington Stock Exchange. is on a short business trip to New York. {FANCY TOMATOES ! GET HIGH PRICES { | Cucumbers and Peas Lower in New York—Lima Beans in Active Demand. at 107 Spectal Dispatch to The Star. : NEW YORK, July 16.—Fancy ripe | tomatoes continued to realize high i prices under comparatively light re- { ceipts today. Sales were made as {high as $0.50 for crates containing about thirty-two quarts, and $6 for twenty-quart crates. Cucumbers were in more liberal supply and prices showed a downward tendency. Bushel hampers sold from $2 to $3, while pickles brought mostly 33 to $3.50. Long Island white potatoes vanced, partly due to the somewhut lighter supplies, and more active de- mand. Cobblers sold from $4.30 to $5.50 per barrel of three bushels. The bulk of the pea shipments were not delivered to the stores of the { commission merchants in time for morning trade. Consequently, con- siderable stock remained unsold at a late hour, with the market generally veak. Prices ranged from $1.50 to 0 per bushel basket. Lima beans continued to be in ac- tive demand, with the market firm at $6 per bushel hamper for fancy stock Green string beans sold from $2.50 10 $3.25 per bushel hamper, while wax beans brought from $2.25 to $3 FISHER REPORTS PRICE AVERAGES FOR WEEK | Special Dispatch to The Star. NEW HAVEN, Conn., July 16.—Last weelk's prices averaged 163 per cent of pre-war_level. The purchasing power of the dollar was 65 and 3-10 pre-war cents, according to Irving Fisher, Yale economist. —_— SHORT-TERM SECURITIES. (Quotations furnished by Redwmoud & Co.) —Close.—— Bid. Offer Aluminum Co. of Amer. 7. 1923, 10315 Atuminum Co. of Amer. Ts, 1983, 1058 1081 ‘American Coiton Ol 6%, 1924... 92 i American Sugar 6s, 1087.....0 1024 Amer. Tel & Tel. s, 1924 100 {Amer. Tel. & Tel. 64, 1925 1154 | Anaconda Copper_6s,’ 1920. 1018 “Tel. of Can. 75, 1 1021 Canadian’ Nor. ‘5is. 192 1001, Central Argentine Ry, "y Central Leather 5s, 192: 981} C C. & St, L. 6s, 1929, 101 C 1L & Pac. Diis, 103 98 . 1923.. Du Pont 7 ¥ Federal Sugar Ref. Gs, 1933 Goodyear T. & R. 8, 1931. Great Nor, 7x, 1936, Hocking { Humble 0il | Kansas City T Copper s, Mexell & Libby 7 M., Bt P& 8. 8. M Morris & Co. 1%, | Penna. R. T aul Union 5 Roebuck & Co. 75, 1923.. ater Ol 6%, 1981 Switt & Co. Bs, 1 Tidewater Ol 8% Union Tank Cax “Ts, i ‘Westinghouse E. “4Called August 1. 1923,