Evening Star Newspaper, July 25, 1923, Page 22

I RS RAID OILS FINAL TRADING Some Stocks Rebound After | i Early Weakness—Little ! Change in Quotations. £ BY STUART P. WEST. Siiecial Dispateh to The Sta NEW YORK, July 25.—For an hour of 50 today the market was more or leps unsettled. Then, it having been ablished that little real stock was for sale on the decline, prices began ta pick up. The opening was slightly lofer. Soon after traders sought to test out the market's resistance by offering stocks down again. sifeculative favorites dropped off a hdlf point to a point, but they came back readil soon the carly sHort sellers started to cover. H Leaders Given Support. WAmerican Can met with support just under 90 and Continental Can anound Sentiment is optimistic o1} these stocks, because the canning trfide has not been affected by let-up ins other directions. American Loco- as as mptive was another which stood out | strongly during the early decline and umong the first to rally. The siyeet regards a dividend increase from the present $5 to $6 as likely betore the end of the year. The only question is whether t on - wiil Lg taken at the Augus ting. fhere was quite a contest in’ Stu- debaker around 104 and in Baldwin below 119, but both stocks came back casily when it was discoveved that the pressure was coming fram bearish sources wa Drive on Oil Shares. Among the rails Reading, Baltimore and Ohio and New York Central ral- Tied the easiest of any. These stocks hive been steadily bought during the TAnother little made drive was against the oil shares early in the af- | ternoon, but it met with success, and in the last hour there s & mod- erat stocks like the Pan- Americans, Cosden, Marland and Pro- ducers and_Refine This had a steadying ¢ffect upon the rest of the market without, however, encourag ing unr general buying. Railway shares i the late trading were quite inactive Mack Trucks Doing Well. The first six months report of Mack Trucks will show net earnings applicable to the common stock of over $12 per share. Orders en hand insure a satisfactory third quarter. No predictions are being made for the last three months. 1t is estimated that net income in the September quarter will be within 15 per cent of that of the second. The reports of Mathieson Alkali and International Cement also will be put out soon. The former will be snown to have earned at the annual rate of $1° a share in the first six International Cement's r th 17 r was at pproximat $6 The 1d quarte’ about bound rate in th $7 i 3 ement’s busin steadily, and many b be no siackening in g power this year. Review and Outlook. In today’s markets chance was af- forded to get a more accurate line upon the importance of European davelopments as a factor in calcu- ations. W were secing this morn ing the outlines of the dismal p ture of- the German situation which Trime Minister Baldwin painted two wheks ago. The communist upr ings. and still_more, the overwheim- ing ‘red superiority in the German mining unions were inc.dents, the significance of which might easily ba exaggerated. yet which on their fave seemed ominous What the international money murkets thought of the news as it affccted the situation in Germany it- self was made sufficiently clear by the cource of the mark. The threat of the social upheaval and suspension of industry on a large scale may be what at the last moment will save the German situ- ation. Confronted by chaos, German ban ! put some of their holdings arrency and forelgn se- of a German internal #qld loan. This will not be done, however, before the German republi ddamonstr capacity for dealing with the political disorders as it did with those of 1919 ] { CLOSE IS IRREGULAR. Market Drifts Aimlessly After Mid- . day Advances. By the Associated Press. NEW YORK, mbved uncertainly today’s stock luarlu-l. Practically the entire list feli off in the first hour on offerings of professional hear traders. There was gradual improyement as sup- perting orders were executed later ang the market drifted aimlessl .|.€ close. Sales approximated 006 shar. The closing was irregular. The market continued dull during the final haar. Most of the advances of the midday stood. but a sizable list cohtinued lower than vesterday's final quintations. g July in 25. — Prices 15 The | ks and industrialists will be in-| NANCIAL Air Reduction. . Ajax Rubber. Alagka Junea Allfed Chem. ... Allied Chem pf. Allis Chalmers Allis Chalm pf. Am Ag Chm pf. Am Bank Note. Am Beet Sugar. Am Bosch i Am Can. 5 Am Car & Fdy.. Am Chain (A).. Am Chicle Co ‘Am Cotton Oil.. | Am Cot Oil pf Am Druggist. .. AmH & Leath. . Am H & Lea p! Am Ice. Am Internatl. Am La France.. { Am Locomotive. Am Loco pf.. Am Safe Razor. { Am Ship & Co Am Smelting. | Am Smelt pf {Am Steel Fdy {Am Sugar. . | Am Sugar pf. .. | Am Tel & Teleg | Am Tobacco. Am Tobac (B) Am W W 6% pf. AmW W 7% pf. Am Woolen. .. {Am Woolen pf.. | Am Zinc & Lead Anaconda. .. Asso D Goods. Asso D G 1st pf. Associated O { Atchison. { Atchison pf | Atlan Cst Line. | Atlantic Gulf | Atl Gulf pt.. Atlantic Ref. | Atlas Powder (n | Atlus Tack. { Baldwin Laco. { Baldwin Loc pf. i Balto & Ohio. .. | Balto & Ohlo pf. Barnesdall (B). Bayuk Bros.... Beechnut Pack. Beth Steel. . Brit Emp Steel Bklyn Edison Bklyn Rap Tran | BkIyn R T ctfs { Brown Shae. ... { Burns Bros (B). Butte Copper... Butte & Super Butterick. .. | Calif Pack . | Calif Petrol i Callahan Zinc. | Calumet & Hecla Canadian Pac. .. | Carson H Gold Central Leath. Cent Leath pt. Cent RR of NJ . i Cerro de Pasco Chandler Mot Chesap & Ohio. Chi & Alton.... {Ch1 & Alton pf. {Chi Grt West., . | Chi Great W pt, |ChiMI& S, . | Chi Mil &St P pt | Chi & Northwn. ChiRI& Pac... | Chi R1&P 7% pf ChiStPM &O.. | Chile Copper. | Chino Coppe i Cluett Peabody. Coca-Cola. . Columbla Gas. . Columbia Graph Columbn Carbon Cons Gas of NY. Cons Textil: Cont Can. Continental Mot {Corn Products. Cosden & Co. i Crucible Steel { Cuban- Cub Am Sng pf. Cuba Cane Sug. | Cuba Cune $ Cuban Dom'can. Cuyamel Fruit. . Dgvidson Chem, Del & Hudson. .. D Lack & West. Dome Mines. . ... DuSS & Atlan Dupont (EI)... Dupont deb..... Duquespe 1st pf. | Eastman Kodak { {Erie. .. !Erie 1stpf.. | Famous r1a | Fed Mines & S.. | Fd Mines&s of { Fifith Ave Bus. . i Fisher B of O pf | Fisk Rubber. | Fleishman. { Foundation Co Freeport Texas. Gen Asphalt. Gen Asphalt p: Gen Electric. Gen Elec spl. Gen Motors Gimbel Brcs. Gt Northern pf Great Nor Ore. Greene-Canan Guif St Steel. Hayes Wheel Househ'd Pro Hudson Motors. Hupp Motors | Hydraulic Stl. .. | natanoma. Ind OilL & Ga: | Indian Refining. 102 107 26 5843 664 12 194 ™ 1 [ 108 40 22 34 81 | a1 a2% 91y % 146 1444 6ol 91 86% 1014 10 41% 82 85 107% 99 113% 124 12% 1204 13 49% 6564 10 554 65 T 74 5 109% . % 3 49 26 6% 21% 16 70% 208 614 484 145% 5% 204 52 188 40% 50% 593 2% 3in . A% 10% 181 3l 57!-| 24’1[ - 1 60% 26% 1813 64 8 a4 % 46 61% ) 4T 8 121 364 634 26% 107% X 25% 65% 6% 19% | T4 é 8 ] Bl 19 1% | 6% 82 8h ! North Amer. . { United Ry Inv.. ' PHE-EVENING -~ STAR, - NEW YORK STOCK EXCHANGE" Received by Privats Wire Direct to The Star Office .., ~ 7 Open. High. Low. Close. 111 1104 111 2% 2% 2% 32" 230 1E 32 32 82 99% 93% 99 43 43 48 12% 124 124 3% 214 21% 4% A5 4% 6214 624 3i% 31% 17% 1% B% By 435 44 Natl Lead pf. . Natl Ry of M 2d. Nevada Copper. N Y Alr Brake N Y Central. N Y Dock pf.. NYNH&Harttd. Narth Am pf North Pacific. Ohip Fuel Sup. . Qrpheum Circull Otis Steel. ....... Owens Bottle Pacific Develop. PacificOll....., Packard Moter. Pan-Am Pete. .. Pan-Am P (B).. Pennsylvania... Penn Seabd Stl. People's Gas. ... Pere Marquette. Philip Morris Phillips Pete Pierce-Ar pf Pierce Oil...... Postum Cereal. . Produc & Ref... Pub Service. Punta Alegre. .. PureOfl........ Rapid Tran Sec. Rap Tran Sec pf Ray Con Copper Reading....... Reading 1st pf., Reading 2d pf. . Replogle Steel. . Rep Ir & Steel Reynolds Spr. Rey Tobac (B). Rey Tob pf B. Royal Dutch StL & San Fran St L Southwn. §t 1. South pf San Cecil Sug. .. Schulte Stares Seabeard Alr L. Seaps Roebuck . aneca Copper. . Shell Pr & Tran. Shell Union. Simms Petrol. Simmo Sinclalr Of) Sinclalr pf. Skelly Gil... .. Sloss-Sheffield South Pacific. Southern Rwy. . Southern Ry pt. Spicer Mfg Co. . Stand Milling St Ol of Calif... 50% Stand Ofl of NJ. 334 Steel & Tube pf. 106 Stewart-Warner 90 Sirombg Carb Studebaker. Submarine B Superior Of Tenn Copper. Texas Company. Tex Gulf Sulph. Texas & Pacific. 19 Tex & PC& Oll. 10% Tide Water Oil.. 101 Timken Bearing 37 Tobacco Prod... 49% Tobacco Prod A. 81% Trans Cont Oil.. 6 Underw'd(new). 39 nion Pacific. .. 129% Unfon Pac pf. 74 United Drug. 80 Un Drug 1st 47 10 2% 16 4T 95 98 . 424 .26 90% . 118 284 20 164 45 86% 32% 67 16%s 70 50% 320, 106% 907, 8% B 9% 42 5Tk 19% 10% 101 374 49% 81% 6 424 574 > ' 16 48% 94% 98 43 26 90% U S Food Prod. . U S Hoffman M.. U S Indus Alco. . U S Realty 5 S Realty pf. Utah Copper. . Utah Securities. Yagadium Corp. Va-Car Chem... ' Va-C Chem pt Vivadou.. 60 15% | Web & Hellbrn. West Penn pf. West Blec ptf. Western Md West Pacific West Pac pr Western Union. 108 66% 7 25 60 2¢ 7% 65% 26% 28% 9% W thee El&M. Wickwire. . White Eag Oil. White Motor. Wilson Co,..... Willys-Overld. . Willys-Overl pt. ‘Wisconsin Cent. ‘Worthington. .. Wright Aero. * 0dd lot. 25 50 24 7 65 25% 284 9% 26 50 24 ) 66% 257 29 9% High. Iow. Lgst. Call Money. ..., 4% 4% % HOURLY SALES OF §TOGKS. 1lam.....163100 12m. 257700 1pm.....306 800 - X pm. 370 600 — CABBAGE PRICES ADVANCE $10 PER TON-IN NEW YORK Spectal Dispatch to The Star. NEW YORK, July 25.—White cab- bage adyanoed aboyt §10 per ton to- day owing to the comparativély light supply and more active demand. Most early morning sales for bulk stock were made around $50 per ton. Green peas of fancy quality and in good condition met an active de- mand. Receipts were comparativel iight. Bushel baskets sold from $1.25 to $2.75. 3 Celery was in liberal supply. demand was limited for fancy large, while small and brdinary stock was practically neglected. in 691 | 104% The | BOND QUOTATIONS *SLIGHTLY LOWER Trading Dull — High-Grade' Rails Firm—Traders Await “News From Abroad. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 25.—Trading in the band market today was very dull. Speculative issues opened slightly lower, but there was little selling and the market relapsed into inactivity. Talk about change in the manage ment of the Minneapolis and St. Louls was not' helpful to its obligations. The first refunding 4s sold down { sharply almost to the low record. Barnings have been poor for a long !time, and at the current rate only { about 60 per cent of charges will be e . Erie_issues are held firmly. Seaboard Air 1 lower. The New Haven d riptions were about the same, St. Paul issues moved irregularly but with no such selling as has appeared in the stock. St. Louis-San Francisco .incomes and adjustments- both sold off and then railied. The feature among the indusrials was the drop in the Cuba cane sugar bonds on comparatively small trans- actions, both the convertible 7s and the debenture 8s falling off rapidly. While the position of these bonds has been materially improved they still move more or less in sympathy with sugar stocks. At current prices both igsues yield around 933 per cent on a maturity basis. Copper bonds |were firm. International Mercantile Marine 65 went a little lower. There was no important change in the tractions. United States government bondt heid around yesterday's closing prices and there was no weakness in the grade rafls and Industrials; some of the middle grade investment iscues like Chesapeake and Ohio convertible 55 and the Baltimore and Ohio first 4s were & little stronger. Traders in foreign bonds were evi- lently awalting more definite news as to the reception by e and Belgium of the British note. (RAIL PAY DEMANDS | TOTAL $24,000,000 {If Increases Are Granted Higher Freight Rates Must Follow, | Officials Claim. Special Dispatch to The Star. CHICAGO, July 25.—If the railroad {clerks and other employes are grant- ed the wage demands the Railroad | Tavor Board considered today, it will n an immediate increase in rail- roud pay annually 75.000,000, today that if th ixty roads are jroad would hav {#imilar height: eventual increase of met, every other rail- to rais and that the addi- !tional labor costs “would have to {come from somewhere, which means {increased freight and, possibly, pas- {senger rates.” “Higher freight rates mean higher prices for everything,” said J. W. Higgins. executive secretary of the Asvoclation of Western ailways. = e granting of these demands would mean a new wage cycle the end of which no one can foresce.” * SHOW BIG INCREASE | By the Associated Press CHICAGO, July 25.—The southern watermelon crop, which has been ar- riving at northern and eastern ma kets Ifn only half the volume of lal vear, has now started in a steady. stream, the weekly report of the burgau of agricultural economi ! says today. For the first time this summer, weekly shipment records of 1922 have been exceeded the past eek, with jobbing prices still 50 te per cent above those of the lust two vears. Lower price trend and gencrally more liberal supples of fruits and vegetables were noted in the review, | especially. for potatoes, which suf- | fered sharp price recessions. Canta- iloupes were the = exception, their i prices remaining almost unchanged. CALL MONEY STEADY. W YORK, July 25.—Call monewv—- Steady; high, 4% low. 4%: ruling rate, 4%; closing bid, 4% offered at last loan, 43;; cail loans against laiceptances,’ 4%. Time loans—Firm; mixed _collateral, sixty amd ninety days, 5abl; four to six months, 5a 514 ; prime commercial paper, 5a3%. FLOUR IS UNCHANGED. MINNEAPOLIS, Minn.. July Flour, unchanged at 6.0026.20; ments, 53,368 barrels. Bran, | changed, st 20.50a21.00 Wheat—No. 1 northern, 113%: July, 1.06; September, December, 1.07%. Corn—; 3 yellow, $2a83. Oats—No. 3, white, 35%a36%: Flax—No. 1, 2.66%a2.70. 25—~ ship- un- 1.07%a 1.06% NEW YORK EGG PRICES. 1 were slightly | WATERMELON SHIPMENTS: of at least $24.000.000 | Beth Railroad men pointed out | Beth i (US43 1958 WASHINGTON, D 0 "ON NEW YORK BONDS srock Excuance | Received by Private Wire Direct to The Star Office. - (Rales ave Su:31,000) NITED STATES BONDS. (Fractions repres: E'nmpl.:'l 1T means 161 1-83. Lib3%s Lib 1st 4% Lib 2d 43 Lib 34 4% Lib éth 44 . 89 - 487 . 297 - 440, - Hajes. High 190 100-10 98-12 <28 08-12 29-26 FOREIGN, Argentine Ts Belgium §s Bern 8s. Belivia 8s. Bordeaux 6 Brazil 7 Brazil Brazil 778 Cunada 6%s 19 Canada Bs 1931. Canada b5 1952, Chile 85 1 5 Chile 831941..,... Chinese Gov Ry 58. {Copen Caecheslovakia §s. Denmark s, soe Dutch B16%s. ... Dutch East I 68'47. French Govt 8s French Govt 7) Haiti 68 ctf Holland-Amer Japanese 18t 475 Japanese 2d 4 1s. . Japanese 4s. 3 Jergen U M 68 '47. Marseilles 6s Mexico bs Mexica 45 . Montevideo 78 Netherlauds 6s. Norway 8s. . Norway 6s........ Orient Dev deb 6s. Paris-Ly's-Med 6s. Prague 73;s.. Queensland 7s Queensland 65 Rio de Jan 85 1946. Rio de Jan 7 Sao Pauio Sao PauloState,8s. Seine, Dept of, 7s. . Serbs Crotes Slo 88 Soissons 6 Sweden 6s. Tokio bs. % Ud Kingm 6148’29, Ud Kingm 5135 "87. Uruguay 8s....... 995 864 6844 83 104% 8176 8 112% 38 102% 4 103 12 13 90: 9! -seconds. thirty-secen Low. 8-09 8-07 98.24 . Close. MISCELLANEOUS. Am Asr Chem Tis Am Chain s f 65733, Am SmIt&R 1st 68 Am SmIt&R 6s. ... Am Sugar Ref 6s.. AmT& T cv 68 AmT& Tecltrbs.. AmT & T el tr 4 Anaconda cv db 7 Anaconda 1st 68 Armour & Co 4%s. Atlantic Refin 5s. . Barnsdall s f 85 Bell Tel Pa 55 rct Beth Steel 5125 '58. teel 11 5. . Beth Steel pm cel s f 63 e, démands on about | Arier H St st Bkiyn wages tolpugh T Bldg 55 '60. Central Leather &8 Cerro deé Pasco 8s.. Chile Copper 6 Con Coal Md 1st 5 Cuban-Am Sug 5. Cuba Canecv d 8s. Dery (D G) Ts. Det Edison ref Diamond Mth 73 Duguesne Light 6s. E Cuba Sug 7%s. Empire F&G 7%s Pisk Rubber, 8s. . | Gen Elec geb 58 Goodrich 6% oodyear 8 198]. Goodyear 8s 194 { Huiible O&F Hlineis Bell 1st 5s. Indiana Steel 58 Int Mer Marine 65. Int Paper 1st 58 A. int Paper 1st 6s B. Kayser (J)7s KCP&Lt5sA 52 Kelly-Spring 8s Liggett & Myrs 5s. Lorillarg (P) 55 Manati Sug sf 7 I Marland 01171 Marland Oil 8s°31. Midvale Steel 5s. Montana Power 5s. Morris&Co 1st 412 Nat Tube 1st 55 3 Eng Tel 5 Y Ldsn 1st 6 NYG EL H&P 5s. N Y Tel 6541, N T Tel 6849, N Y Tel 4148 N Am Edison 63 N States Pow bs Northwst B Tel 7s. Pacific Gas & El5s. PacT & T 53’52 PhilaCoref6sA.. Pieree-Arrow 8s. Public Sexvice 5s. Punta Alegre 7s. Sincluir O1l Ts Sinclair Oil 6% w ISin Crude Oil 6% £.a Crude Oil 6s St Pipe e 5s So Por Rico Sug Ts. {5t oil ot Colif Steel & Tube 7s. T in Elec Pow 6s. T Tide T7at Ol 64%s. | Toledo Edn 1st 75 Union Bag & P 6s. . 43 1% 98 6 944 5 90% 37 101k 10 102 1 116% 44 97w 92 100% 97 841 99 95% (9T 90% 93% 83 EL) 4% 109 894 4844 128% 100% 874 1074 2314 % 108% 105% 108% 100 91% w5t 1004 100 102% s 93 95% 100% 79 B4 835 1045 - 90% 107 87K 95% 984 99% 1054 6% 94 76% 9% 9% 109% 9s 105% L06' Y35 98 90% 1077 90% 90% 100% 72 84 1094 97 94 o8 9% 5% 29% 104 108 9454 102% 107% 9T 60 35 6 4 11 11 © 0 1 06 68 1 31 €21 1 O 26 BRSO e G 0 O o B G T OGS D 15 RS b e e O o e P ar - e - = o 97% i 0% 1014 102 116% 87% 91% 100% 9% Baly 98% 95 vy 90y 93% BT ¥7% 840y 109 89% 98l 122% 100 868 107k 93 75 103% 105% 103% 904 91 105 100% 993 1029 115% s 954 100% 79 Bs Eav 104% 90% 107 74 95% 981 ' 105k e64 ¥ita 764 99% 974 109% 98 104 106% 8% 927 90 107% 904 90% 100% 72 B3% 108% 97 94 28 978 Bdv, 99% w35 108 93 10454 107 971 -08 100-10 Clase. 8-11 98-10 98-10 0544, & & & & & & Canadian North 7s. Canag North 6%s. . Cinad Pac deb 4s. 02% 20% 1t 96 1014 109% Car Chi cM Chi £h1 1% Hud RAILROA| aies. Heh. tehison gen 48 tlantie CL 1st4s. 6 13 864 O prin digs, &old 4, Clinch & O Ches & Ohlo cv 4lis & Altonds. .. Chi B&Q gn 4568 Chi B&Q 1st rf s Chi Great West ¢ Chi & EIll gn 5s. ., ChiM&S P rf 4}s. Chi M&SL P ev 58 Chi M&St P 4825, , Chi M&S P oy 434s. C M&StP 4s'34.. &N é%s. ChIRT& Pac rf 4s, Chi Un Sta 435 &StP Rys bs & W Ind en 5. CCC&SLLrf6sA.. Colo & Bou 41;s. . aRRES... Del & Ha 1at rf 4s. Del & Hudson 5. D&RG 1st rf b Den & Rio G en § D & Rlo G Imp b8 Erle 1st con 4. Erie con ext 7 Erie gen 4s. Erie conv 45 D. Gr Trunk sfdb 6s. . Grand Trunk s Gr North gen s Gr North gen 6% Hud & Man ref bs & Man aj b 11 Cent ref §s Int Rap Tran Ts 111 Central b3, Tt Rap Tran bs Int Rap T 6s stpd, 16 24 - mRaRGam —os LI T PPN » PTRTY Tt == PRI P [T © % | Int &G Nor aj 65. Lou. Mil NY Nor Pen Rea 95% | 100% 79 84 834 1044 907 107 1% 5% 95% 99% 1054 614 94 | 9% 98 1047 sk | 1] 93% Y2 90% 107% 90% 98 1 97% ] 85 ¢ 99% | Wi 108 | 4% 15 & N uni 4 Louls & Nash 53s. Market St en bs. El Ry & L b; M&StLrfexbs. .. N Y Cent gen 3%s. N Y Cent deb 6s Centri New Havencd 6s. . New Haven d 45 57. New Haven 73fr.. N Y State Ry 413s. NY W & Bos 41y | Norfolk & W cn 4. Northern Pac 3s. thern Pac 4 Northn Pac r i 6 rthern Pac 5s D.. re & Calif 18t bs. , ) Short L cn 65 °46. Ore-Wash 1st rf 48 Int & G Nor 1st 68 Towa Cent rf 4s Kan City Ft S 4s. .. Kansas City S 5; Kan City Term 4 Lake Shore 45 '31 Lehlgh Valley 6; -t - o Seifitun~fulBualulonne aunbann o CBR GG~ S - nsyl gen 5s. ding gen 4s Pennsyl gen 4148 Pennsyl 614 Rapid Tran §s wi. iRio G West ol 4s. .. SULLIM&S 4828, StL&SFplisA.. StL&SFprin StL &S Finc 6; StL&SFadjés.,. {StL&SFplesC.. SULS W 1st 4s. San A & Arn P 4s. . Seab'd A Liref 4s Seab'd A L adj bs. Seab'd A L con 6s. Sou Pacific cv 4s. .. Sou Pacific ref 4s. . Sou Pacific clt 4s Southern Ry 1st bs. Southern Ry gn ¢s. Southern Ry 6 Third Ave adj b Union Pac 1st ¢ Union Pac cv 4 Unfon Par cy 6s. 6% | Virginia Ry st bs. { Western Md 4 7% { Western Pacific 5s. 14 1094 | West Shore 1st 4s. 1 80% 95% 67% 102 48% 92 95 1034% 95 60% ¥0by 9% T 8l ' 10. 4 » 9! E2 138 1084 b6% 80k b% 7% 1% 8 % 545 101% 43 92 u5% 108% 44 ¥6 504 80 9% T9% TOTAL SALES (Par Value): amn pm.. 4164 000 2pm. 5 - 2370000 12 noon 3379000 160 000 SETTLEMENT PLAN DENIED BY JUDGE Giving Small Creditors “Full Amount in Dery Case Is Not Permitted. | By the Associated Press. NEW YORK, 25— July Federal 102%] Judge A. N. Hand has denied applica. 10714 tion of the receivers of the D. G. Dery | Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. The market on good beet, is strong. ©Only choicesi cuts are in demand, however, and poor beef does net find ready sale.. Drop in the temperature caused a slight Increased demand. There is practically no change in the lamb market. Legs and chops are in demand and the market s reported 85 belng steady. A weaker market on veal was re- ported. There was not enough de- erease in price, however, to material- 1y affect prices. Eggs—Strictly fresh, selected, ean- dled, per dozen, 27a28; average re- ceipts, 25; southern, 24. Live poultry—Roosters, per 1b., 14; turkeys, per lb., 25; spring chickens, per Ib., 32a35; keats, young, cach, 40; fowls, per Ib., 26. Dressed poultry—Fresh killed spring chickens, per 1b., 45a50; winter chick- jens. per Ib, 36; hens, per 1b. 30; roosters, per Ib., 18a20; turkeys, per Ib., 35a40; keats, young, each, 70a80. Live stock—Calves, cmojce, per 1 9; medium, per Ih., 8aBl4; thin, D i11b., 6 Lambs, spring, per 1b, 12% 5.00a0.00 each; Nve hogs, (32 ireen fruits—Apples, hew, per bas- ket, 1.00a2.60. California oranges, per crate, 5.50a6.00; Florida, ~3.00u6.00. Lemons, per box, 6.00a6.50. Grape- fruit, 4.00a4.50. Blackberries, per qt., 7a12. Peaches, 1.00a3.00. Cantaloupes standard, 2.00a4.50: pony, 1.76a3.25: ats, 1.25a1.60. Black raspberries, 16 a20; red raspberries, 25a40. Vegetables—New potatoe No. 1, 4.5085.50; No, 2, 2 ? tuce, per crate, nearby, 50a1.00; New York, ieal Romaine lettu per crate, 1.0022.00. Cabbage, nearby, 1.50 a2.50" per bbl. Egeplani, per crate, 2.00a8.00. ‘Tomatoes, i3 1 ket, nearby, 28a B y 50035 iper bbl. Peas, 2.00a3.00 per basket. al.50. per bbl, 2.60a4.00. Celery, per New York, 6.00a8. Squash, North Caroling lima beans, 2.50a5.60 per basket. GRAIN AND PROVISIONS. BALTIMORE, Md., July 25 (Special). —Potatoes; V barrel, 1.50a5.0 Lushel, 7581.75. 'Sweet potatoes rel, 6.00212.00. Beans, bushel. Lima beans, bushel, 3.00a3.50. Beets, 100, 4.00a26.00. Cabbage, 100, 6.00a12.00. ‘arrots, 100, 4.00a6.00. Celery, dozen, 5041.00. Corn, dozen, 10 Cucum- bers, basket, $0a60. Eggplants, bas- 1ket, '1.50a1.55. Lettuce, bushel, 50z Onlons, bushel, 75a1.50. Peas, bushel, 2.25a Peppers, basket, 7oaS5. Squash, basket, 20 Tomatoes, basket, 5081.00; green, Apples, barrel, 1.06a2.50; bushel, 25a 1.00; 15835, Blackberries, quart, . Cantaloupes, basket, 1.50. Cherries, pound, 10ais. Currants, quart, 15als. Huckleberries, quart, 14a18. Peaches, basket, 50a75. Plums, basket, 40a80. Raspberries, pint, 10a 12. Watermelons, each, 20a60. Selling Prices on G Wheat—No. 2. red winter. spot 1.10; No. 2, red winter, garlicky, spot . 2. red winter, garlicky, 4, red winter, gar- ate, sold at Car- inter ag lots of nearby a range of A5 to 0S per bushel. goes on grade No. red garlicky, 1.01'2; Nv. 5, at 98! ob. new. 5.00 spot, 93 per track corn. 1.06!3 and 1. per bushel; > ellow, No. 2 per bushel. No. 2 white, 50%a Rye—Nearby, §0a80 per western export, 743 % per bushel. eceipts, 89 tons: market for old hay is steady to firm at a range of 20.00 to 25.00 per ton. New near- by hay arriving mostly in heated condition is selling strictly on merit at slightly lower prices than for old 0. ve ) 1 tangled. .rye. tig0a No. 1 wheat, 12.50a13.00; No. 1 normal, 14.00a15 DAIRY PRODUCTS. BALTIMORE, Md,, J (Special) —Live poultry—Spri s, pound, 28435 ; leghorns, 25 leghorns. 18a20; old reoster: ducks, 20825; pigeons. pair, Eggs (loss’ off)~Native firsts, dogen. 24 : southern. 23. Butter—Creamery. £00d to pound, 37a41: 3§ prints. 4lad creamery, 36a39; ladles, 34a3 80a32; store packed, 29al0. prints, 30a82 TODAY'S CHICAGO PRICES, ! CHICAGO, July 25.—New downturns {in wheat val took place today dur- ing the first part of the board of trade gession. A fresh decline at Liverpool, further weakness in the New -York {stock market and selling here ta Vhedge newiy harvested wheat were ‘lnmnblu bearish factors. Reports of sat, faney, nearby rolls, dairy crop damage by rust and heat in the northwest attracted but little atten- | Ition. The opening, which varied from unchanged figures to % lower, with September 96% to 963 and Decem- ber 99% to 1.00, was followed by a moderate general setback and then by a slight rally. Dry, hot weather in Kansas and Ok- | lahoma gave strength to the corn market. After opening. unchanged to % off, September 75% to 76, prices scored fair general gains. Oats were influenced by corn strength, starting % to off, Sep- tember 34%, to about the ! Ainish. Lower quotatio on hogs weakened ion market High. 993 same as yesterday's Low. 70, 961 9% Close. Beptember. December. CORN— gy September. December. | Peppers, per crate. Norvth Carolina, 1.00 { Kale, per bbl., 75a1.50. Spinach, | but quickly recovering | ‘DIRECTORS ELECT - F WHITE CASHER National Bank of Washing- ton Fills Vacancy—Local Exchange More Active. J. Frank White, assistant cashier of the National Bank of Washington, was today elected to the cashiership |of the institution to succeed W. Wal- {lace Nairn, who, on account of ill health, tendered his resignation June {30 last. The election took place at {the monthly meeting of the direc- torate. At the same time Edmund H. ham, John Alden, William E. Howard and Rutherford J. Dooley were named assistant cashiers in recognition of their long and cficient s Mr. White has been continuously in the "employ of this old and substa: tigl institution since the year 1883, has had a wide, varied experience in the profession and is thoroughly versed In its every mhasc. The best insight as to his ability as a bank official can be gained, however, his_promotion to this ‘important c:- pacity in a bank which boausts the prestige the National Bank of Wash ington enjoys. The new assistant cashiers, also, have served diligently und meritori- oysly for many years nd vet- erans in every sense of the word The capital and surplus of the stitution is $1.750.000. It is officered, in addition to new officials, Clarence F. Norn George L. Starkey and James Trimble, presiden Edwin C. Brandenburg, trust officer; Charles Linkins, assistant trust ofhi- cer, and verett H. Parsley, auditor. \ Addresses Loan Associutions. C. Clinton James, president of the Building Associations’ Council for the District of Columbia. and attorney for the Columbian Building Associa- tion here, speaking before 1 national convention of Building Loan Associations at Tacomi, Wash., this morning, deciared that “ther. are 10,000 associations in th assets of 3 1y 7,000, men i of over 1,000,000 membersiip and nearly $500,000,000 in as: Over $6,000,000 was loancd diring {the vast year in the District of Colurn bia,” Mr. James said, "by building aud associations. Those attending the the District inelude Mr. and Mrs Jumes, Mr. and Mrs. W. 5. M. Quinter and Mr. and Mrs. H. R. Norton. ~About 600 delegates and visitors are in ai- tendance. W. R. & E. DI Directors of the Washington It and Electric Company et afternoon, and it is beli 4 commion disbursement of $1.25 per share will be dec.ared, payabie provably on Septen ber 1. In addition, the preferred dis- bursement will be acted upon The first common dividend sinee March 1, 1 5 5 declared three mopins ago, at the rate & per cent annually, aithougn no provision was made 105 future “meions.” It is gen- eraliy unaerstood, however, an effort Wiil be made to maintain this rate. Bankers Plan Vacations. Wistar M. Balderston, vice presi- dent of the Standurd National Bank, will leave by automobile Saturday morning for several weeks' vacation to be spent touring New England. His itincrar has not been mapped out compietely. Mrs. Balderston will ¢ accompany him 3 George 0. Walson Libert National Bank, leave Saturday for tic where a month will ve spent Mrs. Walson wi accumpuny tam White muior snvivend. The White Slotor Company torate hus deciared Lie LMLy first | COnSECUUIVe Feglilar qUArCerly divi acnd ol $L0U per shale, Payacle Sep- tember 3u, Lo Stocsuoluers UL record at wae cluse of busine September 2u. HCPores Jur tue ma onns ended Junc 30 indicaic that the het carn- ings for tne six-mouth period wer the highest in the tory ef ihe com- pany iuvr a corresponding period. Loeal Exchange Aetive, Heaviest trading in weeks occurred on the Washington Stock Exchange this morning, with prices stronger «x cept in the case of Lanston, which led {the market. sold to the extent of ni , casing off & full point t0'74 i Capital Traction was strong at par fand a half, and Railway preferred {was unchanged. District National Bank sold at 167, and two shares of Riggs brought 651. Washington Gas Light was firmer at 49% COTTON STANDARDS RULES ARE ISSUED Agriculture Department Seeks to ' Help in Putting New Act Into Effect on August 1. Gra- rvices. ssociation from 4 tors to Meet. th ent of the will also Adirondacks direc- Regulations for the enforcement of the cotton standards act which goes into effect August 1 have been is- |sued by the Department of Agricul- They provide for the adminis- 597 | tration of the act by the chief of the ot | bureau of agricultural economics and MARKET FLASHES. Reports from Wilkes-Barre are that Rough §;$1c°rporazlon for permission to pay in % full creditors with & elaim .of $1,000 10° 7 {or less, and to pay 25 per cent in cash OATS— SO September... 1. Decembar. NEW YORK, July 25.—Eggs—Ir- regular; receipts, 28,712 cases. Fresh gathered, extra firsts, 27a29; do, firsts, U 3 Rub 1strf5s.. U S Rubber 7 USSteels£3s.... two-third crates sold frem $1.50 to *Ingersoll-Rand % $3.50, mostly $2.50 to $3. Interb Rap = Inland Steel. 86%, 6K 413, | Shecify how it shall be administered 107 * 107 ‘353 | with respect to its optional features. ¢ 102 3l befween July 16 and 21 more than a *million tons of anthracite was mined in that region. Leading producers of pigiron in Cldcago are reported to be cutting prices on all grades 50 cents a ton, bringing the quotation down to $27.50 f.g. b. furnace. New York bank clearings, $552,- 000,000, New York bank balances, £57.000.000. New York Federal Re- segve Bank credit ,000,000. Bos- ton bank clearin $52,000,000. fnvestment houses report that the regent lull in new bond and stock of- ferings has resulted in considerable improvement in deslers' inventories. ‘While public buying has not been large dufing this period it has been suf- ficfent to bring about a sizable re- duetion in the amount of securities carried on dealers’ shelves, Wall street was somewhat surprised ats the announcement of the stock- lm{d(‘ru protective commiittee that an inyitation had been extended to bond holders to join with them in oppesing 1he present plan for reorganizing the Deiver & Rlo Grande railroad.., The plan was understood to be satisfac- tory to the several committees repre- senting bondholders. Spokesmen for Mondholders indicated they saw little appeal in the stockholders' invita- tion. Country wide cuts In prices of crude oflf and_gasoline during period of big- zept demand emphasize unsettled con- dition of oll industry. Unless there is rellef from heavy overproduction otloil before winter, the situation will be'worse, Wall street oil men predict. fron Trade Review says new busi- negs in iron and steel, both in orders placed and requirements initiated, is agpin developing definite endency to expand. Some of the largest pro- ducers for the first time in several months brought up bookings where they equal shipments. Dallas reports that the federal re- sefve and member banks of the cl¢venth district adopted- plan for financing marketing of _cotton'. in Texas. inland Steel pf Inspiration. . In Ag Chemical. in Ag Chem pt ing Cement. 1n Combust E. Int & Grt North. Int Harvester... Int Harvester pf int Nickel intl Paper Invineible Oil. Jewel Tea Jones Tea { Kansas City S.. Kayser (Julius) Kelly-Spr Tire.. Kennecatt. Keystone Tir Lehigh Valiey. Lig & Myers pf. Lima Locomo Loews Inc. LoftInc. .. { Lorillard (P) Louls & Nash | Macy Copf. Mack Trucks. .. Mack Trucks st {Magma Copper.. Majlinson & Co, Man Kl iny gusr Marland Oll. .. . Mathison Alkill. Maxwell (A)... Maxwell (; . May Dp Stoves, . Mclntyre Por. Mex Seaboard”. { Miami Copper. . { Middle St Oil. ... {Midvale Steel. {3inn & St L (n). i Mo Kan & Tex. Mo K & Tex pf. Mo Pacific pf. Montg'y War Moon Motors. .. Mother Lod: Mullins Rodv Nat Biscuit. . Natl Cloak & S.. Natl Dept Stores Natl Dept Sto pf Nat] Enamel, . Natl Leaa. .. 37 1% 593 < 115 115% 1 32 20 2% 9% 13% URGE WHEAT FOR HOGS. Experts Would Use It Instead of Corn at Present Prices. KANSAS CITY, Mo. July 2 present prices wheat ¢ould be ad- vantageously fed to hogs, instead of Gorn, according to reports from the state schools of agriculture of Mis- seuri and Kansas. With corn worth 85 cents a_bushel, wheat is worth $1.10 when fed to hogs, L. A. Weaver, head of the Missouri experiment sta- tion, sald. “The Missouri experiment station has conducted two trials, where ground whest was compared with ground corn,” Mr. Weaver said. “A summary of the two years’ results shows that the hogs fed wheat made more rapld gains than did the hogs fed corn. It also required less grain to make gain. —_— GAINS 51-PER CENT. Western Maryland Railroad Makes Fine Weekly Showing. BALTIMORE, July 25.—REstimated earnings of the Western Maryland rajl- !road for the week ended July 14 show an inerease of $158,144, o 51 per gent over the corresponding period of 1923. For two weeks of the month to July 14 the increase was $316,199, or 57 r cent, and for the year to July 14, m. increase was §3,796,767, or 43 per cent. For the week all items show small de- creases except coal and coke hauling revenues, which show an increase of $186,567, or 263 per cent. For the cur- rent month there were decreases on all but coal gnd passenger hauling items, but for the year all items except malil, milk and miscellaneous show increases. TRACTOR FIRM ORGANIZED, RICHMOND, Va. July —Incor- porated with capital stock qf $1,000,- 000, the Tractor and Machinery Sales 91% | Corporation has been organized, with 59% |-J- H. Tucker. 59% 15 - 116 resident, -for-manu~ facturing and dealing in ti other agricultural machinery. —At! 4a26; Pacific coagt whites, extras, 37a39; do, firsts to extra firsts, 30a36. — TODAY’S METAL MARKET. NEW YORK, July 25.—Copper steady; electrolytic, spet and later, 14%. Tin easy; spot and nearb 39.25; futures, 39.12. Iron eas ern, 35.00a26.00; -No: 34.00037.00. Lead st Zinc firm; Bast St. Louls, nearby delivery, 6.1286.15. spot, 7.1027.15. PARIS MARKET FIRM. PARIS, July 25.—Prices were firm op the bourse today. Three per cent rentes, 5 francs 68% centimes. Ex change on London, 77 francs 65 cen- times. Five per cent loan, 75 fran 52 centimes. The dollar was quotecz spot and Antimony, at 16 francs 94 centimes. % —_— SHORT-TERM SECURITIES. . . - (Quotations furnished by Redmond & Co.) . 7. Aluminum Co, of Amer. 7s 1925, 103} Alumingm Co. of Amer. 7s 1958. 103% Amerieka Cotiog Oll Gs 1024 o1 Amerilull %!;fll‘.- é’;‘- 104 Rinericka Tei. & 7ol ag 1985, 113 Anaconds Copper 64 1929...... 1013, Angla American O Tiga 162, Bell. Tel. of Canads 7s 1925 Canadign Northern Blae : Cent. m‘un :l.'{wgn 1927, opt; Z g:'c'“u.& L e 1055, % c. 5l4s 1923 kit Yble o1l 5 2 Kansas City Term. 8102 Kebnecott Copper 7s 1080, Nell & Libby 7s & H, 8. M. 6! . R. 7% 1030, Union Dej S48 1023, :unt‘k & l'g"- 1? 1823. Tidewater Oll 6 s 1 i . M7 c: =P, Unlon Tank Car U, 8. Rul ., Westorn nhrn", Westinghouse E. 1 Nerthern, 26,00a27.00; No. 2 North- i | By the Assoctated Press. o ;. NEW YORK, July 26.—Foreign ex- Quotations (in dallars): Great Britain, demand, 4.59%; cables, 4.59 9-16; 60-day bills on banks, demand, taly, demand, .0437%; , 'demand, Germany, des 00000163, 13980, Sweden, de- | 3. demand, demand, E | z Utah Pow & Li bs Vertientes Sugar 7: v.-Car Chem 7s. .. X r¢ Thsw. WestUnion 61és. .. Wickwire Spen 7s. 1rilson & Co 1st 6s. Wilzon&C ev 71es. PONNE R R GNR NS E A 8 97K 8214 6Th% 109% 3 93% 31 96% 5 96k 38 19 15 11 101% 87% 9% 81% 67 109% 93 95 96% —_— FOREIGN EXCHANGE. Y July 5, 1923—12 hoen. (Quotations furnished by London, pourid: ontreal, dollar Paris, frane Brussels, franc Berlin, mark rague, crown Warsew, mark . Capenhagen, “erown Christlania, crown Stockpolm,” crgwn. changes, 456 18-16. cables, .05921. cables; ,0437%. mand, .0 016; Hehiand, demand mand, .2662. 17624, .0240. Poland, ™ ("zeeho-stovaki tria, - demand, (330 B .97 15-32. INDIANAPOL! irregular. France, L0437; cables, .0487%. Norway, demand, i Nominal olt value, 4.8665 100 Belgium, 1621, Denmark, Switzerland, Spain, demand, .1426. Greece, de demand, dema 0000745 demand, .0052%. Argentina, demand, .Brazil, aemand, .1020. - W. B. Hibbs & Co.) ! Sell. chec 0692} 102 88 and 75 per cent in preferred steck to 97%{ larger creditors, it was learned today. 81%| Decision followed hearing yesterday 67, l"l’s‘z 938 954 96k the Council on the application, ment was proposed also as part of plan. for the Schwar: A new manage- 'zenbgeh Huber Company, ene of the creditors, in opposin; the plan, argued that careful liquidation would produce. for all the creditory about 60 cents on the doljar, and decjared the plan had not | bulk desirable been approved by the eourt or at a |butchers, meeting of creditors, Advocates of the pl L jsows 6.0 n contendedits | NenMweight hogs, 7.10a7.5 adoptien would save h 7.85 tendant upon foreclosure of the coi poration’s factories in New York, Peppsylvania and New Jersey. w00 L MARKET BETTER. Advance in Prices Said to Have Ended Inactivity. 3 Special Dispateh to The Star. due ann 1791, 60000835 , .0299. Rumania, Montreal, BUYS FAIRBANKS' HOME. Indignapolis Life Insufance Company as purchased the Charles W. Fair- an ks home - from- His: heirs . » ulld o twenty=story -bdilding on‘the wite for use as Its offices. Aus- R Rameparans - weill T ) F3 %om wool In. 1ar ln‘ &u:xlm twent: bales large), oun aRY, for s of domes! foreign, wool, the American- light weight are cons| amoun! ..-g:{ “rgu :udhfll BOSTON, July .25.—Optimism. pre- vailed among dealers in the 'wool market today. They reported a stif- fening in the market and a material expansion {n the movement of woel, to the advance in_prices, oolen goods. ing their here were ty-six TREASURY CEBRTIFICATES.' (Quotations fursished by Redmond Saptember 15, 1923, September 15, 1023 Deeember 15, 3. March December 15, 1 i Beptember 15, 1024. 15, 1625, 1003-82 & » 1. 100 11:32" , 1027... 9% & €0) 100782 b B 100 15-82 100 LARD— September. . October. RIBS Beptember. October. 10.80 10.90 8.50 847 CHICAGO LIVE STOCK MARKET. CHICAGO, July 25 (United States Department of Agriculture).—Hogs receipts, 36,000 head: slow; mostly steady to 15 fents lower than Tue day's closer bulk 160 to 230 pound averages, 1.50: top. 5, early 260 to 325-pound 7.25a7.45: bulk packing littie doing on pig: ; mediy 70; light. 7.00a7.70; light light, (60: packing sows, Smooth, 0.008 .40; packing sows, roughs, 5.75a6.00 killing pigs, 6.25a7.00. Cattle—Receipts, 16,000 head; bel ter grades beef steers, yearlings and fat she stock, steady; other grades these classes, weak to 25 cents lower; top matured steers, 11.40; hest long yearlings, 11.00; bulls, weak to 25 cents . lower; Jweak to unevenly lower; vealers, 25 {10 50 cents higher; packers paying up ite 11.50; grass fed light yearlings and handyweight steers proportion- ately numerous; few early sales | Texas grassers, '5.00a7.50. to quality and condition: bulk early sales, yearlings, 8.00a9.50; few lots 10.00; bulk can; and. cutters, 3.00a 8.50; bulk desjrable - bologna bulls, 5.0085.35; bulk stockers and feeders, 5.0087.00; some falr quality light stockers' downward to 4.50 and be- low; good meaty about 1,000-pound feeding steers late yesterday, 7.35 on country aceount. Sheep—Receipts, 16,000 head; slow; fat lambs, steady to 26 cents lower; early top westerns, 13.00; top natives, 12.75. Culls, , steady: aged sheep, steady to strong; few medium to good yearlings. 10.00; ‘few cheice aged wethers, 8.50. BUTTER IS LOWER. JHICAGO, July 25.—Butter—Lower; mery extras, 39; standards, 393: extra firsts, 37%a38%; frsts, 35l%ka 361 : seconds, 34a35. Eggs—Higher; receipts. 14,858 cages: firsts, 23a23%:’ ordinary firsts, ‘2la 31%; storage pack extras, 2. torage pack firsts, 24a24%. 10, 10. 8.55 .50 s 847 6.00a6.3 cr stockers and feeders, |, according | Among the important provisions are those relating to the section of the }act giving the owner or custodian of cotton the privilege of submitting samples to the Department of Agri- culture for classification and making the department's final certificates of | such classification prima facie evi- , | dence in United States courts. Three distinct services are contem- plated: (1) informal classification of | samples drawn and submitted by in- { dividuals indiscriminately, (2) classi- fication for purposes of arbitration of lagreed samples submitted by two § | parties involved in a dispute, anc (3) the classification of samples, ¢he authenticity of which is established by supervision of the storage and {sampling of the cotton. The regula- tions also provide the method by which qualified classers will be licensed upon application to the de- partment. ARRANGE FOR HANDLING THIS YEAR’S FRUIT CROP Growers, Dealers and Others Hold | Special Conference at City 4 Club Here. | Fruit growers, dealers and handlers met in conference at the City Club j today to diseuss the fruit erop pros- pects In the various parts of the country, with a view to obtaining the proper car supply and facilities for handiing this year's shipments, Most of those present were growers, deal- ers and rallroad men, covering the mid-Atlantic states territory. The meeting was called under the auspices of the bureau of markets of West Virginia, Maryland, Delaware, Virginia, Penpsylvania and the United States Department of Agricultur W. H. Somers of the West Virginia " {bureau of markets presided ADMITTED TO EXCHANGE, OMAHA, Neb. July 26.—The board of directors of the Omaha Grain Ex- ' ‘change has voted to admit to mem bership on the exchange, the Farmers Grain Company, organized by the-.:) Farmers' Union. A