Evening Star Newspaper, August 25, 1923, Page 10

" 10 CLOSIG IS HEAVY [ N STOEK MARKET Bears Use Weakness in Oil Shares as Excuse to Attack Balance of List. By the Associated Press. NEW YORK, August prices with few exceptions d a reactionary tone in session of the market. Cutting afvidends in oil stocks furnished spec- ulators for the decline with an ex- cuse for another attack ou specula- tive favorites, oils and motors being the hardest hit Trapping of an over-extended short interest was the reason generally as- eribed for the sharp advance in Davi- son Chemical. which rose points 10 41, a new high record for the year and later canceled about half of its ain. Foundation Company dropped 3 1ts and losses of 1 to 2 points were ablished by Baldwin, American can, Gulf States Steel, Mack Truck, Stromberg buretor, Studebaker, Chandler, Cosden, Marland and Pan- Amer n A. The closing was heavy. proximated 300,000 shares. STOCK JUMPS TEN POINTS. B Sales ap- Davison Chemical Furnishes Sensa- tion of Session. BY STUART P. WEST. Epecial Dispateh to The Star NEW YORK, August i Cent Leath pt FINANCIAL. EW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Opex. High. Ajax Rubber. Allied Chem Allis Chalmers. . Am Agr Chem. . Am Ag Chm pt.. Am Boet Suga AmCan........ Am Chicle Co. .. Am Cotton Oil Am Druggist. AmIce.... Am Internat Am Locomotiv Am Safe Razor. Am Smelting. Am Sugar. ..... Am Tel & Teleg. Am Tohacco. . Am Tobac (B). Am W W 7% pf. Am Woolen..... Anaconda. Ann Arbor pf. Asso D Goods. .. Assoclated Oil. . Atchison. . Atchison pf. Atlantic Gulf. Atl Guif pf. Atlas Powder. .. Austin Nichols. Baldwin Loco Balto & Ohlo. Beth Steel. Booth Fish..... Buff Reh & Pitts Burns 5ros (A). Butte & Super Butterick. . Calif Petrol. Callahan Zinc 6% 66 43 13% 32 | Calumet & Ariz. Canadian Pa Cerro de Pasco. Chandler Mot... Chesap & Ohlo. . Ches & Opfwl. selling of the oil shares had a greater | Chi & Alton. influence upon the market today than the strength displayed by the Chem ical and related stocks. A spe rise occured in Davison Chemical the early trading, the stock shooting up 10 points from w morning. The fertilizer stocks in the advance at a more a But elsewhere realiz- in increased in the final leaders as American Can, Bald- Loco and Studebaker were off over a point. More Dividend Cuts Seen. That the action of the Producers and Refiners’ dividend would be un- favorable hud been taken for granted. :se shares themselves did not go but were &0 at better. = street, however. of its view that er oil compani: mally large he forced to cut or pa Cosden and g weak, the former making low Houston dropped two nd Skelly went through its us low. New P ens Alds Chemicals. The Jump in Davison Chemical was perhaps one part the improvement fn the fertiiizer industry and three parts the development of the silici Jel process, The success of this process economizing the refining of ofl stablished beyond question. companies are after the and announcement of the doption 0f the patent by another concern almost as important as the Rayal Dutch at any moment would not be surprising. . Virginia-Caroling _ Ch ferrcd was bid up, partl thy with the movement in Chemical and partly ~because psiness of the fertilizer compar the last few months has 1 distinct improvement. Recently it < become known that the company profit in the first half of its new fiscal year, as against a loss for the corresponding period of 1922, Mercantile Reports Cheerful. week end reviews of the mer- cantile agencies struck the most cheerful note they have in some time. They noted that demands for fall are on the increase, although the forward movement is’ irregular as vet and not at all rapid. The most i 1t_contribution is the state- \dstreet that “so far domestic _purchasing Power outside of a few one-crop s is fully equal to or ahead of & points pre Other cess. omical pre- in_symp: —_— CALLS REPORT PREMATURE. President Herrell Enows of No Actual Negotiations Yet. “Absolutely premature” was the comment of Ernest . Herrell, presi- dent of the International Finance Ccrporation. this morning, when ap- prised cf the reports being circulat- ed in Baltimore that the Guarant Company of Maryland was negotiat- he purc of the local con- s true,” said Mr. He “that k Gottlieb, vice president of the Maryland firm. has discussed mat- ters pertinent to a purchase with one of our directors, but so far as 1 know actual negotiations have not yet be- kun. If we were a small company an absorption such as reported would, no doubt, prove beneficial to every one concerned, but we do not consid- er ourselves a small concern. have $1.100,000 of capital and undi- vided profits, which is quite adequate to carry on our business on a large scale. Furthermore, we are not at all anxious to disposé of the Interna- tional —_——— BOND ISSUE SOUGHT. Seaboard Asks I. C. C. for Gold Note Authority. Authority for the nominal issue of $809,000 in 6 per cent gold bonds was asked of the Interstate Commerce Com- mission today by the Seaboard Air Line Railway Company. The {ssue will pro- vide collateral securities to be turned over to the Tressury Department for | advances made to the company under the transportation act. BANKER FOR SIXTY YEARS. NEW YORK, August 25.—Alexander Gilbert, vice chairman of the Irving Bank-Columbia Trust Company, will complete toda xty years of his ca- reer as a bank officer. Mr. Gilbert, who is in active charge of the Market and Fulton street office of the bank, is | spending his vacation at Napanoch, N. T, and a testimonial message from the board of directors was sent to him last ngiht, On August 25, 1863, he was made _cashier of the Market Bank of New York, one of the ancestors of the institution with which he is now asso- ciated. BANK MEN TO MEET. CHICAGO, August 25.—The annual meeting of the American Association of Joint Stock Land Banks will be held here August 27, 28 and 29, it was announced today. Sixty-nine joint stock land banks operating under the federal farm loan act, wEich made loans to farmers iuring the last year aggregating $250,000, 000 will be represented. The opera tions of these banks cover thirty- cight states. - TODAY'S COTTON PRICES. NEW YORK, August 25.—Cotton fu- tures opened steady. October, December, 241 January. March, 23.94 bid; May unquoted. steady. October, August 25.—Cotton | St Oil of Calif quiet. October, 23.61; January, 23.55; March, Octobe January 12 point 23.49-51; irecember. 23.50-5: March. 23.47; May. e it was Fri-| Davison ; Showh § i 'Northern pt. We | | i ,iChi & Alton pt.. ChiMil & StF. .. Cht Mil &St P pt cular . Chi R 1&P6% pI. ! | Chile Copper . Chino Coppe: Cluett Peabody. Coca-Cola...... Colo Fuel. and the | Columbia Gas hour. | Columbia Grapk Columbn Carbor Cons Textile Cont Can... Corn I’roducts. . Cosden & Co.... Crueible Steel Cuban-Am Su; Cuba Cane Sug. Cuba Cane Cuban Dom'can. Cuyamel Fruit. Davidson Chem. Dupont (E1)... Eastman Kodak ton Axle & Sp Elec Stor Bat. .. Endicott-John. . Erie ceeenes Erie st pt Erie 2d pf. Famous Players | Famous Play pf. | | i H | { i | Gen M Fisher Body Fisk Rubber Fletshman Foundation Co.. Gen Asphalt pf. Gen Electric . rs Goodrich oodyear pt the | Granby Consol. . Gray & Davis. .. Gult St Steel.... Hayes Wheel. Houston Oil. Hudson Motors. Indiahoma Indian Refining. | Interb Rap T the | In Combust E. tnt Harvester.. nt Harvester pl Int Nickel. Intl Paper. . Invineible O Iron Products. Island Oil. Jones Tea. Kansas City S.. Kayser (Julius) Keily-Spr Tire. Kennecott. . Keystone Tire Lehigh Valley Lima Locomo. Loose-Wiles Louis & Nash. MelIntyre Por. Mack Trucks Mack Truck 2 i Mallinson & Co. Manatl Sugar. Maracaibo Oil. Marland Oil. artin-Parry... nl:athlsan Alkill. Maxwell (B) May Dp Stores. . Mex Seaboard Mex Seabd ctfs. Middle St Oti Mo K & Tex pf.. Mo Pacific. . Mo Pacific pt. i Montg'y Ward.. Moon Motors. Mother Lode. Natl Acme. Nat Biscult Natl Enamel Natl Lead. ... Nevada Copper N Y Alr Brake N Y Central. YNH&Hartfd. Norf & Western orth Amer. orth Pacific. Pac Gas & Elec. Pacific Oll.. Packard Motor. Pan-Am Pete. Pan-Am P (B) Pennsylvania... Penn Seabd Stl. People's Gas. ... Pere Marquette. Phillips Pete. Plerce-Arrow Plerce-Ar pf Pitts & W Va. Pressed St C pf. Produc & Ref. Pub Service. ..+ Pullman Co. . Punta Alegre... Pure Oll. Railway St Sp.. { Rapid Tran Sec. | Ray Con Copper Reading. Reading 2d p! Replogle Steel.. Rep Ir & Steel. . Reynolds Spr. .. Rey Tobac (B).. Rey Tob pf B. Royal Dutch. St Joseph Lead.. St L & San Fran St L Southwn. .. San Cecil Sug... Sears Roebuck.. Seaboard Alr L. Seabd A L pf. Shell Union. Simmons. .. Simms Petrol Sinclair Oll. Skelly Ol Floss-Sheffield. . So Porto Sugar. South Pacific. .. Southern Rwy.. Southern Ry p?. Spicer Mfg Co 20% 12% AT% 43% 87% 2% 63 17% 49Y% Stand Oilof N J. 324 St Oil of N J p! 114% Stewart-Warne) 90% Strombg Carb.. 694 Studebaker. . 106% Superior Steel.. 29 65 5% 43 18% 38 31 28 2 76 5% £ 17% 25 7 20% 12% 41 43 875 32% 68 17% 491 32% 114% 91 69% 106% 29 Low. 6 65% 43 13% 32 31 97% 1% 6% 4 95 1% 73 5% 58% 62 12314 147 144% 80% 84 40% 22 82 103% 9614 7% 167% 25 6% 19% 12% 4% 43 874 32 68 16% 49y 32y 114% 89% 6914 105% 29 Close. 6% 674 43 18% 33 31 984 4% 95 18% 3 5% 58% 62 Open. High. 9 9 % 4a1u 8% 53\6 8 38% 381 55 547 831 83l % . 130 120 29 20% 2% 48'a 484 897y 397 96% 06% 9ty 91% 17 117 16% 164 31% 814 9 26% 8% 24% 18% 8% 18% 27 Bl 27 17% 10 17% 18% 10 59 18t 6874 224% 51 224 51 T ki) 251% 261% 9 251% HOURLY SALES OF STOCKS 11am.. 137900 12m...... 265700 IR UNDERWOOD URGES LEADERSHIPBY U. Tells Cotton Men Nation Will Pay Price if She Shirks Responsibility. Low. Close. 8% B4 4l 41% 58's 68% 8 8 88Y; 38 63% 827 4 129% 28 | Tenn Copper. .. | Texas Company Tex Guif Sulph. Tex & PC & Oll. Timken Bearing Tobacco Prod. .. Tobacco Prod A. Trans Cont Oil. . Union Pactfic. .. 7§ Cast I Pipe. stIr P pf. S Indus Alco. U S Rubber. . jUS Rub 1st pf U S Steel. U S Steel pf..... Ctah Securities. Vanadium Corp. Va-Car Chem. Va-C Chem pf.. Vivadou Wabash Wabash . Waldorf (new). Western Md. Western Md. 2d. Westhse E1&M. White Eag Oil White Motor, Willys-Overld, Woolworth. ... 25% 18% 8% 27 17% 10 184 58% 22% 51 By the Assoc MEMPHI cd Press. Tenni., August election of (Allan H. Hinchey, Cape ardcau, Mo. as president, the adoption of resolutions which includ- ed a pledge that members put “conservative optimism™” into their business, and an address by Oscar W. :Underwood, United States senator ifrom Alubama, featured the closing session of the convention of the Cot- ociation here —~The A officers Coldwate Other de included: Miss.; W, K Malvern, Ark. and John M. eenwood. La. vice presi- M. Birmingham, Memphis, ceed himself, and S Memphis, treasurer, Losen Ak Better Schools. Resolutions adopted further pointed ito improvements in schools in the area | embraced by the association: expr. ed belief in the efficacy of di cation for t farmers: recognized the vertising and_ promised to the railroads in “furth {the transportation system. Prosperity of America depends meas. ipon the political sta- of European countries, dele- were told by Senator Under- wood. who protested that upon this country rests the responsibility of leading the war-wrecked nations from unrest and near chaos into a state of governmental and economic equi- librium “There are more issues in Europe out of which to make war now.” de- clared the senator, who recently tour- ed that continent, “than there were in 1914 saving & s that she " Not a ministry in the countries which engaged in the late !war knows today that it will be in ¢ istence two werks hence. The rman_government may be the we shall sec under the republic. fails, chaos will inevitably re the £ ad- ation mproving Political Stability. Mr. Underwood, who recently e pressed his readiness to accept the democratic nomination for the pres- idency, for which his friends are booming him sserted that business st lity was impossible without po- litical stability. Europe has neither gold nor American securitles with Which to buy American products, he said, and unless trade can be fetab- lished the American farmer and W si- { ness man will continue to be shut vut I frem the great European markets What are you going to do ?" demanded the speaker. Is only one man In this country n do anything about is the President, through aiplomatic channels. Tt is not the slow chich is necded in strong hand of standing for peace. his responsibility to his family, h neighbor or to his country and hn will never get over it. If our country irks this responsibility we will pay the price.” {PRODUCERS AND REFINERS CUTS DIVIDEND IN HALF Votes to Pay 50 Cents Per Share, as Against Former Payment of $1. CHICAGO, August Directors of the Producers and Refiners Corpora- tion, meecting here vesterday, declar- ed a dividend of 50 cents a ghare, payable September 15, to stockholders of record September 4. The company had been paying d dends at the rate of 34 a year. The decision follows recent drastic reduction in gasoline prices and the and of a court Europe, but the Let a man shirk the United States. Frank E. Kistler, chairman of the board, said: “The directors feel that present conditions call for economies as well as conservation of resources, and that it may be necessary to store large stock of crude oil and distressed {refined products, of which the com- i pany has no sur BAR SILVER RATES. LONDON, August 25.—Bur silver, 20 15-16 pence per ounce. Money. 1% per cent. Discount rates—Short bills, 3 per cent; three months’ bills, 3% per cent. VEW YORK, August 25.—Bar silyer, 55; Mexican dollars, 47%. NEW YORK EGG PRICES. NEW YORK, August 25.—Butter— Firm; receipts, 8,532 pounds. Eggs— Irregular: receipts, 16,534 crates. Pa- cific coast whites, extras, 45a47; do., firsts to extra firsts, 31%a443%. Cheese —Steady; receipts, 210,177 pounds. ——— DRY GOODS MARKET. NEW YORK, August 25 (Special). Trading was not particularly active today in the cotton cloth markets. Prices held firm. Print cloths quota- tions were 93 cents, for the 64 by 60, and 11 cents for the 68 by 72s. Sheeting and sateens came in. for % | some demand. 26 20 12% i 43 875, 324 €8 16% 49% 324 114% 0% 69y 106 29 Prices were up in the oriental raw silk market. Activity was slack, how- 5\'er< Yokohama reported a quiet ay. WEEKLY BANK REPORT. NEW YORK, August 35.—The actual condition of clearing house banks and trust companies for the week shows an excess in reserve of $22.484,370. This is an increase of $9,802,060. o R e Starting in a small way less than a yoar ago, Peggy Chapin, former Chi- cago sterographer, now owns a mod- ern eandy plant doing a business of more than §3,000 a month, i in trong government, ) heavy overproduction of crude ofl in} STAR, WASHINGTON, D. . S BOND INTEREST - INRAL Ghoup | Chicago and Alton Issues Join Eries in Advance—U. S. Loans Prominent. BY GEORGE T. HUGHE Spe. Dispateh to The Star. NEW YORK, August —While dealings were on a small ale, the bond market showed a very firm tone, and especially so in the more specula- Itive railroad issues. More or less this las been true all the week. It was a rather curious development with so Imany difculties facing the railroads that this should be the time for a 'd'inlfl.)‘ of market confidence in rails. 1 Not only are the roads faced with the {possibility of a coal strike, but the !July carnings statements so far re- ! ceived have revealed a large increase lin maintenance charges, with result of a smaller proportion of gross for net. Nor s there any assurance that { the campaign for lower rates and for higher wages will not be pushed with vigor. Erie Bonds Give Cheer. Some of this change of heart may have been due to the very remark- able demonstration in e stocks and bonds, which has been ‘going on all the week. As usual there have { been all s of guesses as to the A<0]| 1 street for so long a time has been ignoring favorable |earnings report that little stress has jbeen laid on the Erie's improved i financial conditions as the reason for the advance in its securities. | However, that may be. today’s re- port that there wa vossibility of lifting the Chicago nd Alton re- jceivership some time n. jattention to this road's also surpris. i While in January onl cent of fixed charges were arned six months later esti- howed not only all charges preferred dividends covered but S per cent left for the common Of course in the case of a in receivership such estimates re only indicative of the trend. Chi- ago and Altan 31:s, secured by sec- ond morteage, were up more than u point and a half toda Other Rail Bonds Gain, Other railroad bonds to jold the advance made this week Inciude such issues as Baltimore and Ohlo con- vertible 4%.¢ and Missouri, Kansas nd Texas adjustments. The one ex- ption has been the case of the St Paul, of whose junior bonds re down on the week, and one of which, the refunding 11:s, have shown persistent heaviness, There is not very much change in the foreign list on the week. Mexi- can obligations show the largest Kain on riports of e ¥ recognition of the lcan government. ch ent bonds. too, while weak at tervals have been well supported. For the most part, the higirgrade domestic rails and ‘‘ndustrials have been heavy and without continuation of the active buying of two or three ago . Loans attention of been turned loa up. a most Attention. to to United Siates and all the lib- Some of the buying come from the w offerings of the week total 30,376.000. The lurgest single item was the Louisville and Nashvil refunding to the amount of $14, 000.000. “Th were very wel] taken he most important financing sched- uled for the near future is the ex- pected $60.000.000 Argen loan. SAUNDERS QUIZZED The ve is other sid, Former Piggly Wiggly Head Tells of Company’s Finan- cial Status. By the Awsociated Press. MEMPHIS, Tenn., August 25.—Tak- tween Clarence Saunders and direc- }tors of the Piggly Wiggly Corpora- tion, which secks to determine the I state of financial accounting between the former Pigzly Wigsly executive and the company, was continued to- day before C. L. Marsilliott, master lln chancery, who was appointed yes- jterday by Judge J. W. Ross of the jfederal court to inquire int the facts in the controversy. The first se sion of the hearing late vesterday was consumed in the ex- amination of the Piggly Wiggly founder himself, who in a bill filed this week set up a claim of more than $2,000,000 against the corporation. Saunders last week filed a bill asking a receiver for the corporation, whose solvency is to be adjudged by Judge Ross on the basis of the master's find- Ings in the present hearing. Saunders Testifies. Examination of Saunders brought | forth his account of the transactions in stocks of Piggly Wiggly Stores. iInc.. a concern which operates {under patents owned by the corpora- jtion, including details of his sen- sational Piggly Wiggly corner in Wall street last April, and a declara- tion from the former president that| his transactions had all been with the Iknowledge and consent of the cor- | poration’s directors and in the inter- est of the corporation. l Obligations of the corporation which the witness said the company jwas unable to meet included a note i for $1,000,000, held by the American { Trust Company of Nashville as trus- | tees, and two notes held by two Mem- phis banks in the respective sums of $125,000 and_ $40.000. The million- dollar note, he said, was already in default. Bills Consolidated. The first act of Master Marsilliott | when appointed was to order the con- solidation of the two bille filed sev- Ierally by Saunders and by the cor- poration's directors, both of which demanded an accounting of his trans- actions in the stock of the stores company. An attempt to place E. W. Rollow, now sceretary-treasurer of the corpora- tion, on the stand, was defeated when Marsilliott sustained the corporation counsel’s objection on the ground that Rollow had not been in his position long enough to enable him to testify authori- tatively as to the clrcumstances of the case, but that Saunders himself was logically the first witness, Saunders’ resignation from the pres- idency of Piggly Wiggly Stores, Inc., followed several months of disagree- ment between himself and members of the financial “pool” which sacked up his operations on the New York Stock Exchange. His retirement as head of the Piggly Wiggly Compora- tion, the parent company, was effected a few days later after his~fallure to_eiilist co-operation among _stock holders with his plan for re-financ- ing the concern. His bill asking a re- ceiver for the corporation was filled on the same day he retired from that concern’s executive office. Directors of the corporation de- clared there was no occasion for ask- ing for a receiver and announced their determination to resist the move, expressing confidence in the solvency of the company, vear, called INACCOUNTING SUT ing of evidence in the law suit be- i ATURDAY, AUGUST 25, 1923. "ON NEW YORK BONDS STOCK EXCHANGE | Received by Private Wire Direct to The Star Office. (Bales are in $1,000.) UNITED STATSS BONDS. (Fractions represent thirty-i Example: 101-1 means 1011 l Salen. Hi Low. {Lib 31, 43 100-1 100-1 |Lib1st 43s.. 1 98-10 98-10 Lib2d4%s... 56 98-13 98-11 Lib 3d 4%s... 152 98-31 98-29 Lib4th4%s.. 129 98-14 9812 US4%81962. 77 99-26 99-22 FOREIGN. Sales. High. 5 102% 99% 96 2 100% 109% 6% 8l 926 100 101% 100 99%;, 103% 103% 99% 93 96% oY% 864 96 88 98 94% 96% 93 80% ok T6% 64 100% 110% 95% 9% % 6% a3 911, 834 68 T9% 104% 114% 7% 11% Close. 100-1 98-10 Low. 102 88 9914y 26 99% 1097 76% Bl 96 100 101 100 99 103% 103% 9% 93 854 9k 96'% 96 88 974 941 96% 93 80% 6% 76% 6% 100 1o 95% 9% Argentine 7s {Austria iBelgium |Belgium & Belgium 8s. Bern 8s. Bordeaux | Brazi Brazil 8s. Brazil 7% Canada 61481929, Canada 6s 1931, Canada 5s 1952, le 88 1946 “hile 88 192 CubaGisw Czechoslovakia 8 T nmark 6s Dutch E16%s Dutch East I 6 | Dutch East I 6s'62 Framerican 7%s. . French Govt 8s. French Govt 7% Ttaly 638 1925 Japanese 1s: 413 Japanese 4s. Jergen UM 654 Lyons és. Marsellles 6s. o Parls-Ly’s-Med 6s. Prague 732s....... Rio de Jan 8s 1946. Rio de Jan 85 1947. Seine, Dept of, 7s. . Serbs Crotes Slo 83 Soissons 6s KOO e m—e {Ud Kingm 51:3°23. 14 Ud Kingm 5%s'37. 13 102t Zurich 8s J 1 109% MISCELLANEOUS. Am AgrChem 7is 83 97 AmChalnsf6s'33 3 931 Am SmIt&R 1st 58 1Y% Am SmU&R 6s.... 2 102 Am Sugar Ref Gs.. 9 101 AmT& Tcv 6s. 6 115% AmT & Tl trs.. 98l AmT& Tcltrds.. 9214 Anaconda cv db 7s. 21 100% Anaconda 1st 6s 7% {Armour & Co 4 B3 Atlantic Refin 5s. . 97y Barnsdalls £ 8s. . 96 | Bell Tel Pa 65 rcts 9744 | Beth Steel 515 ‘53, 90%% Beth Steel pm s. . 881 Beth Steel s £ 6s. .. 97% Chile Copper 6s.... 9% Commonwth P 6s. . 86'% Cuba Canecv d 8s. 912, Cuba Cane cv Dery (D G) Ts.. { Det Edison ref si { Diamond Mth 71zs. Du Pontde N 7i}s. | Duquesne Light 6 'E Cuba Sug 71s. Empire F&G 7 !Gea Elec deb 6s. |Gen Refracties 6s. Goodrich 613s. ... Goodyear 83 1931.. Goodyear $s 1941. . | Hershey 6s 194 | Humible O&R 575 | llinols Bell 1st 5; Indiana Steel 5s. .. IInt Mer Marine 6s. {Int Paper st 5s A. agma Copcv 7s.. 96 93 9l 101 w | Mer & Mer s f 7s '42 {Midvale Steel 5s. .. Mon‘ana Power 5s. YG 109% L H&P 4s 827, | N % Tel6s'4s. 1055 I N Y Tel 41es. iN Am Edison 6 iNcrthwst B Tel otis Steel 8s. . {Pacific Gas & El 6s | Plerce-Arrow 8s.. i Producers : Rf 8s. {Producers & R 83 w | Public Service o !P.nta Alegre 7s { Sharon Stl H §s {SinclalrOfl ©5...., {Sinclair Oi1 6% w i 1 Crude Oil 63. n Crude Ofl 5155 n Pipe Line 5s. {Stacl & Tube 7s. Toledo Edn 1st 7s. Unlt Drug cv . U 5 Rub 1strfbs.. {US Rubber 735 |USSteels £5s.... {Utah Pow & Lt bs | vertientes Sugar Va-Car Chem 7s... | Va-Car Ch T1s w.. { West Union 61 | Westinghouse 7s. . i~ "ilson ¢ Co 1st 6s. | Wiin&Cev 7ys. | Youngstn S & T 6s.. 005300 w2 0503 0 0 €1 it 10 2 0 im0 8100 0 10 1 0 e £ €1 60 O b 9 N3 1 e £ 0 - ’ ! krwmEemmaCummtanalon s emuiio @ i CHICAGO STOCK MARKET. Ireport “of tod Exchange : Sales Hi Armour Leather pta 400 Borg & Beck 50 Hupp Motor ... .. 380 Montgomery, Ward 15 Public Service pfd. 1013 3700 Rtewart-Warner ... 91 0 Union Car & Carbn 563 4360 Yellow Texi .. 851 10 i s SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ~——Close.-— Rid. Aluminum Co. of Amer 7s 1925, 102 Aluminum Co: of Amer, e 105 American Cotton 2 American Sugar 08 3037 American Tel. & Tel. 85 {i24 American Tel. & Tel. 63 conda Copper ts 1520, Aog an Ol This . da 7s 1 Capadian Northern Cent. Argentine R Central Leather 5s GG o & St L 68 Cin, i1 & Pacific 51 Chicago Tel. On 1923. Du Poot Tige 1931, ederal Sugar Ref. Gondyear To & I, 8 1031, Great Northern T 160, alley 65, c oot O Siae 1832 1025 a 3 s iy 1021y 1063, Humb Kansa: Kennecott b o1 Penna. R R. 73 1030. 8t, Paul Union Depot 5%y 1025, Sears, Ruebuck & Co. Ts 1623, Switt & Co. o8 1932 Tidewater Oil 8% 1031. i Unlon Tank Car 1081 U. 8. Rubber Tiss 1630. Western_Union_Gtas 16 Westinghouse E. & M. EEREETH PREET F28s R . 3% s 1071 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ~——Close—— Bid. Ofter. s September 13, 1923.. 991516 100 3 September 15, 193310 9031.32 100 182 December 1, 1023, 100 100118 March 15, e % une 15, 10 tae 100416 September 13, 1 10015-16 101 116 March 15, 1925...... 100332 100 25, : 991516 100132 D 991982 901116 1100816 1005-18 903-16 99 5.32 © 100% 9929-32 100 —— | \ fl {Sou Pacific ref 4s i i i |CarClinch & O |Chl & Alton 3% {Erieconv 4s B. {111 Central 5% 8 {Int & G Nor 1st 6s. {Lehigh Valley 63 IMK&Tprintsa. IMK&TésC. RAILLROADS. Sales. High. 12 58 Low. Close. 88% 884 80% 804 5% 956% 78% 78% 101% 10U 81% 81% 83% 83% 83% 94h 64% 64% 113% 113% 9% 79% 96% 96% 1003 89 87 b3% b4 29 97'a 4% 556 49% b7% 13t 56% 77 74% 71 101% 94% 102% Atchison gen 48 Atchison adj 4s. .. B&Oprinaks. SW alv 334 & O Toledo 4s Canad North 6%s.. C.nad Pac deb 4 Cent of Ga 6 .. Ches & Ohio cv 6s.. Ches & Ocv 4y Ches & O gn 4148 Chi & Alton 3s. ChI B&Q 1=t rf bs.. Chi Great West 4 C M & Puget Sd 4s. Chi M&S P rf 4} Chi M&St P cv b8 Chi M&St P 48°25. ., Chi M&S Pcv 4138, Chi Rys 68 CRIRT & Pac rf 4. Chi & "V Ind cn 4 CCC&St LTt 68 A Cleve Term 5s ctfs. . Cleve Term 5% Colo & Sou 41, D& RG 1st rf 6s Det United 418 Erie 18t con 4s. Erie gen 4 Erie conv 45 Erfeconv4sD.... 114 Gr Trunk sf db 6s.. Grand Trunk 7s. Gr North gen 7s Gr North gen 6 %, Havana ERL&P Hud & Man ref bs. . Hud & Man aj 6s. 9 Y Int Rap Tr 58 stpd. Inter R Tran 63 Int Rap Tran 7s. Int& G Nor af6s.. Towa Cent 18t 5s. .. Kansas City § 5 Kan City Term 4 ammSan~ana Louis & N uni 4s... Louis & 2003. .. MilEIRy & L3s. .. M& StListrf 4s MK & T 1st 48 ey Rad MK & T adJ 6 Mo Pacific 6s. Mo Pacific 5s a 0 Sere N Y Centgen 3%s. N Y Cent deb 6s. N Y Cent deb 4s Y Centrics New Haven 7s. .. .| Northern Pac 2s. Northern Pac bs D.. O Short Licn 5s *46. | Pennsyl gen 5 Pennsyl gen 413 Pennsyl 6%s. Pere Marq 1st 5: {Rapid Tran 6s w 1. | Reading gen 4 RIATK & L4 i St L IM&S R& StLIM&S4s'29. StL&SF pl4sA.. & SF prin b: SFincés. 4% +214 S KCShL 41,5, & Arn P ds ab’d A L 4s sta ab'd A Lref 4s Seab’d A L ad) & eab'd A L con 68 Sou Pacific v 4s. .. 76 725 4% 45 31 €5% 9215 ou Pacific clt 4s. :Z i uthern Ry 1st b8 « outhern Ry gn 4s. Southern Ry 61;s. . 947 | Third Ave ref 4 97% | Third Ave adj 5s. Union Pac 1st 4; Union Pac cv 4s Western Md 4s. . TOTAL SALES (Par Value): 11a:n.. 1620000 12nocn 2871000 603, GOLD FIND THOUGHT fthe .2 RELIC OF WAR DAYS Hagerstown Scouts Theory | Box of Money Was Left by Bergdoll. pecal Dispateh to The Star. HAGERSTOWN. Md., August he theory that Grover Cleveland Bergdoll, wealthy draft dodger, hid id treasure which Lee Houser jof Samples Manor, found yesterday T : CHICAGO. August 25.—Following isa | where the gold was found t s sales, high, low and | bowlder beneath which th !closing quotations at the Chicago Stock ! was discovered had not been i ! % ldeceased, when she lived 002 | house just back off the roa ' 4| | vears ago, when she died. If the aged | it there, no one can ex- | i 1 | | 100 15-52 | Adams, was exploded today by statements of idents of the mountain district hat the e box of gold moved in the past fifty years. “Over that same rock the treasure box," dent, which hid said one old re: “the armies of the north and 0 * {south passed, during their numerous 1% {campaigns in_this section during the |14 civil war."” This road since then has been repaired from time to time, but | never had the boulder, like many others in the roadway, been removed. The road now is being made into a ounty highwa There are two theories which ap- v more plausible than the Berg- doll one. Many residents believe that the mopey was put beneath the rock by Mrs. Mary Ausherman, now in a'little d, near the spot whehe the money was found. Mrs. Ausherman was a thrifty wom- an, who lived in the house for over 027 | half a century, residing there during the civil war, and up_ until seven woman hid plain. why she did not remove it from its hiding place after the war was 4 | over. 3| Another theory is that the treasure box was hid beneath the rock by a paymaster of either the southern or northern armies, during the war, and during one of the numerous engage- % { ments, left there. The box may have been hid beneath the rock, and the paymaster killed. The box in which the money was found was very simi- lar to the boxes used LS the paymas- ter during the war. —_— COOLIDGE IS OPPOSED TO PLEA OF FARMERS Special Session of Congress for Wheat Growers’ Benefit Disap- proved, Says Christian. d Pres SEATTLE, Wash,, August 25.—Con- gressional action to afford a remedy for the present situation of the wheat farmer has not been “deemed expedi- ent” by President Coolidge, Secretary G. F. Christian has written J. Q. president of the Farmers Union of Washington and Northern 1 Department of Agriculture is exposition showing the activ-|digesting every plan that is offered m‘:sn of women in every stato in the |fof relief,” said Mr. Christian's letter, Union is now being planned and en- | which has been made public. A con- gineered by a woman, Mrs. Elizabeth |ference of wheat growers held here Sears. Xew York city. 17 The exposition will be held in |last week voteg to ask the President to call a special session of Congress. 67% | FINANCIAL. Grain, Produce and| Live Stock LOCAL WHOLESALE MARKET. | It is reported that the recent cool; weather affected vegetation in the, nearby trucking sections. Tomatoes. | very “plentitul shortly before the | change in weather conditions, have | not been so plentiful the past few days and higher prices rule. Growers expect the warmer weath- er will be helpful to growing crops. but supplies probably will not be as Ereat as before the change in weath- er_conditions occurred. Most other vegetables are fairly plentiful. however, but prices are not regarded as being especially cheap.| Cantaloupes continue plentiful at cheap prices. Eggs — Strictly fresh candled, per dozen, 22a33; a ceipts, 30; L. i selected. rage re- | per 1b., 17 spring chickens. 7a%0; keats, young, each, 40a50; . per 1b., 26. Dressed poultry — Fresh killed spring chickens, per Ib.. 3oad0; win- ter chickens, per Ib., 33; hens, per Ih.. 20; roosters. per 1b. 18 tur- keys, per Ib, 35a40; keats, young. each’ 60. Live stock—Calves, cholce. 112:" medium, per 1b., 6a7. 13al14; hogs, ‘per Ib., §15. Green fruits—Apples. new, per bas- t. 50a1.75. California_oranges, per crate. 5.0026.30. Florida, 3.00a6.00 Lemons, per "box, 7.00a8.00. Grape- fruit. 4.60a4.50. per crate, 2.00 43.00: 14 -bu. 75a150. Can- taloupes,“North Carolina, 5 by | cora, per 1b. per crat. 50a1.50. 1.30a2.00; Delaware, ¥ e New Ppotatoes, No. 1, 5.00a6.00; No. z, 2.5 Jersey potatoes, bag, 5.00a5.23. t potatoes, 4.0026.50 per bl York lettuce, per crate, 1.00a2.00: Romaine lettuce, per crate, 1.00a2.00 042.00; nearby, 1.00a gplant, per crate, 12 bu. ‘basket, near. .00 per bbl. ew York | " Peppers, Kale per Brown cucumbers, per bushel, 1.50a2.00. Sugar corn, per dozen. 10a%5. GRAIN AND PROVISIONS. BALTIMORE. Md.. August 25 Potatoes, barrel, per 100 pounds, 1,25z 00: sweets and var Dbeans. Lushe; {bushel, 1.0041.50; Leets, hund 5.00; cabbage. 'hundred carrots, hLundred. 4.00a5.00: celery, dozen, 25, $a16; cu- cumbears basket, onions, asket, { tomatoes, tatock, 85a1 40a50: packing | 3.00: Lushel blackberries, cantaloupes, al 0a75; damsons, pound, 2} huckleberries, 1 hes, bushel, 1.00. plums. imelons, each Selling Prices on Grain, No. 2 red winter, spot.| red winter, garlicky, 0. 3 red winter. ga ITicky. epot.’ 98%: No. 4 red winter, | | garlic, <pdt, 94 fales—Bag lot® of anearb ia range of X7 to 1.00, i grade: No. red il H r . 5.00 per barrel: |2 corn, tation. Tr | Corn i1.06 + No sales Oats—No. 2 white, Ry Nearby. 75a85 per bushel western_export, spot, rye. spot. 743 per bu ! Hay — Regeipts. 43 tons. The de- | mand for good quality timothy and | i light clover mixéd ig equal to re- | | ccipte, and the market rules firm at | 123.00 to 29.00 & ton. No. 1 tangled rye, 1300a 1 wheat. 12.00a12.5 5. ?] Whe F1.093 apot. sold at | No. 3 white, ~ T3 ozt, nominal, 13.00a14.00. DAIRY MARKETS. BALTIMORE, Md Live poultrs n leghorns, : old hens, leghorns. 1% old_roosters, : ducks, 18a35; pigeons, pair, 20a | guinea fowl. each. 40a80. i .0ss _off, native and nearby | firsts. dozen, 29; southern, °7. Butter. g0od to fancy a46; prin nearby creamery. 35a40; ladl rolls, 31a33; store | packed, 31; dairy prints, 31a33; proc- | iess butter, 38, 1 CHICAGO LIVE STOC | CHICAGO, August 2. jceipts, 4,000 head jcents higher iyance; bul izm pound ARKET. . —Hogs—Re- mostly 15 to 25 show more ad: nd choice. 160 to | S 00 to : top. i largely strong- | weight pigs estimated | oldover. 2,500 { Cattle—Receipts. 1.000 head; beef steers and yearlings. 25 cents higher: others. around 25 cents low- } {er; western grassers, steady; better | {grades she stock. trong; canners. - {strong to 10 cents higher: veal 1.00] {higher; bulls, steady to 13 cents high er: stockers and feeders. steady: bulk Iprices follow: Bulk, fed steers. 9.60 | {11.65; western, jcows and heifers jners and cutt lers‘ 2.00 to_ 1 ers, i Sheep fers mar jfers, 13.5 ifat lam! erally 2,000 head; feed generally steady: best of- Gompared with week ago s and yearlings. gen i (op westerns. 13.10: best nati 50; aged killing stock |stronz to 25 cents higher: best light ght cwes, 8.50; feeding lambs, 25 | 35 cents igher; practical top, 0: bulk prices, fat western lambs 0 to 13.680; native, 12.75 to 13.25: joulls, 330 to 10,00; vearlings. 103 Wethers, 9.00 to 9.75; ewes, 5.75 (o550 Teeding lambs, 13.00 to 14.00 | | TODAY'S CHICAGO PRICES. ! CHICAGO, August 2i.—An unturn| in Liverpool quotations. attributed to | | the sharp advance in American mar- i kets yesterday, had a tendency to lift values here today during the early dealings. Reports that the Australian wheat yield may be seriously im- paired because of the excessive ra(ng! wei 1% 13. cul h the past three months, following a 'l‘ong beriod of drought, also had a bullish effect. Thundershowers are predicted for a large part of the grain belt, which will check thresh- fi of wheat and oats. There was a moderate commission house demand, with offerings very light. Opznlngi prices. which were % cent Jower to & | |Cent igher, with December 1.063, to {107, ana May 1.117z to L12, were fol- | Jlowed by a slight advance all around. 1t took but limited selling to bring about a decline in September corn, while the deferred futures were Sirengthened by higher prices for hoge. After starting % cent off toj 1% Ccent advance, December, 8% to 683, the corn market underwent a| slight general setback and then re- | acted. 1% to % cent higher, tarted ! nfi:;nirlfifiw ‘and held close to the opening range. Provisions W hog values FOREIGN EXCHANGE. By the Associated Press. i VEW YORK. August 25.—Foreign ex:lr;n!es steady. Quotations (in Thnited States dollars): Great Britain —'Demand, 4.55 5-16; cables, 4.55 9-16; Sixty-day bills on banks, 4.62%;. France S bemand. .0571%; cables, .0571%. Ttaly—Demand. .0433; cables, .0433 Belglum -— Demand, .0461; cabl 04611%. Germany—Demand, .00000018; cubles, .00000020. Holland—Demand, ‘3933, cables, .3936. Norway—Demand, ‘1632, Sweden—Demand, .2663. Den- mark—Demand, .1867. itzerland— Demand, .18071. Spain—Demand, .1346. Greece—Demand, .0205. Poland—De- mand, .000004%. _Cazechoslovakia—De- mand, .0294. Jugoslavia—Demand, 000105, " Austrla—Demand, 0000144 —Demand, <0045 %. Ari R and, 5230, Brazil—Demand K Montreal, .7%. ere firm in line with lof the 12th Infantry ¥ fed | i L { exception of the Regular Ar —_— TREASURY CALLS FOR $19.154.200 Funds to Be Paid Over to Regional Banks—Gas Light Report—Notes. Banks of the couptry have been asked by the Treasury to pay into their regional members, not tater than Tuesday next. 50 per cent of the? proceeds of the May 15 sale of cer- tificates remaining with them on de posit. The original obligation totaled ap proximately $618,000,000, of $382,000,000 represented cash sub- scriptions, and the balance exchanges The current call will take from th banks of the country approximatel 319,134,200, leaving a like amount re maining. Will Attend Convention, George A. Harris, president Potomac Joint Stock Land Ba leave tomorrow to attend vention of the American As of Joint Stock Land F in Chicago August i\ W, Powell, also of th retary of the us company Mr. Harris, The convention will be ad on Monday by Gov. Robe farm loan commissioner: er of the farm loa ¥ of Agriculture Henr and othe rominent n sted in the ltural 4 co ociation, resources 90,000,000 be nggregating All of the represented Georgetown operated at during Jul ment _of Conr of 3201 to stite- d but $756. while in J ned. Op. past month na exnenses Els nues for d to £20,084, 3 Fewer Husiness Failures. A more favorah this week States numn compares with to R. G. T with 248 failures a vear ago. paring with last week fewer defaults occurred and south, these d 1 than offsetting increases in nd on the Pacific coast reduction uth Despite the decline in total numbes £ failures 5.000 or mo: instance iucr. last week represented 56.0 Eregate, where was 4 190 the et the The I s reported ratio 1o the total was 5.6 per RESERVES TOEND TRAING TODA Review of All Troops on Duty Feature of Meade Camp Program. e 19 trai amp of th Division will be brought to a close to- ay with a review of all regu troops on duty at Camp Me parade will be reviewed b, training act as observ Reserve officers of the §0th D will command the troops in the review th Infantry and the 6th Field Artillerr. Reserve o from the 95th I on and the n. visional group also will command of the troons. The following office march with the command : Ca L. Messler, with John McGuire quarters, 1st Battalion o fantry ; Capt. Clarence E. J A. 12th Infantry Infantry ; Capt. Compan! Thom Infartry With 34th Infantry. Reserve officers with thi fantry will be Capt. Arthur T. Bric. th Company A; Capt. " Quick, with Company B; First Lieu John W. McNair, with Company ( econd Lieut. George C. Whiting, witi ¢ Company E, and Second Lieut. Ernes F. Walker, with Company F. F cuts. Hallock P. Long and John W. Middendorf of the Field Artillery Officers’ Reserve Corps will ride with Battery B of the tth Field Artillery Following the review the offic will begin preparations for their r turn home. Shortly after dinner, the officers of the 99th Division will be paid and then the finance officer will visitSthe £0th Division and next the non-divisional group. By evening the camp of the 80th Division, with the officers on duty with the division, will be de- serted. or nearly so. There will be no need for th ing of “The General”’ a bugle ¢ sounded for the breaking of camp. Th Regular Army officers will return to Richmond, Va. the headquarters of the 80th Division. Pay Respects to Col. Robinson. Last evening practically all reserve officers of the division. in dress un form, marched in a body to the quar ters of the chief of staff of the 80t Division, Lieut. Col. J. P. Robinson. to pay their compliments and wish hir good luck. Col. Robinson expects tu leave shortly for foreign service. Chaplain Atkinson was made cus todian of a fund, contributed by the officers, to send a wreath from th« 80th Division to the funeral of Lieut Walter Hirschemiller, who was killed in the recent accident at the camp. More than $30 was collected for this { purpose. As the funeral services were being held in the camp chapel for the re- mains of Lieut. Hirscemiller, less than 500 yards away lay seven officers who had passed through the shadow of death and remain to tell of their har- rowing experiences. These officers were those most severely injured in* the same accident that killed Hirsche- miller. Mrs. Van W. Robards visited. ber husband at the camp hospital and was overjoyed to find he is recover: ing. TEXTILE STRIKE ENDS. CHARLOTTE. N. C.. August 25. The strike of textile workers in Mill No. 3, of the Higland Park Manufac turing Company. effective since Tues- day morning. was called off last night by vote of the local textile union which last week voted in favor of. the strike. Leake Spencer. secretary and treas-, urer of the company, when appriscd of the action of the workers, said. that _the vacancies made by the strik- ers had been filled and that the em-' ployes would not be discharged to, make way for the reinstatement of} those who went out. i ’