Evening Star Newspaper, August 31, 1923, Page 18

* 18 RAILROAD SHARES - MARKET LEADERS Shorts on Coal-Carrying Stocks Rush to Cover. # Early Drop Checked. ! BY STUART Special Dispatch to The Star. INEW YORK, August $1.—Railway stocks stood out as the most promi- ngnt group in the market today. It wis the rails which pulled the gen- eral list up again after a half hour off =0 of further reaction Traders who had gone short of the anthracite coal stocks were made to feel the truth of the old Wall street maxim that it never pays to “sell on ssrll\t news” Delaware and Hudson and Reading were in fact among the 18aders of the advance, shorts in these stocks making haste to cover when they found that real holders were not alarmed at the prosp of a walkout. Union Paciti lling ex the quarter- 1y dividend of per cent, regained & ®00d part of it, and the same was true of Southern Pacific Co & 0,8 Kk Strong. of the bituminous coal car- were bought on the theory that business would be greatly in- rased by the anthracite strike. This an illustration of the change in of the market where now favorable is considered nd the unfavorable slighted. Chesa- ke @nd Ohio was the strongest of bituminous railroad stocks. There was more activity in the Wheeling and Lake Eries. Short covering continued for a_time in St. Paul preferred on the theory that during the last five months mai tainance charges might be so reduced as to show the road fixed charges more than earned. Shares of th southern carri Southern Rallwa 1 Dis ntral and Atlanti DA Tain bought in recognition that group their net revenues making the best showing P. WEST. as a heen > not affected by the very ywing in the government cot- t. Latest estimates ar Coast Line is earning Tate of over 316 a share. more twice dividend requirements. Willys-Overland Advances. t was taken in the reg- orites, although er their early de- and the special buyving noted e jump in Willy Overland preferred to a new high ¢ the vear alled the rumors that the company etting ready to off or otherwise finance back dividends. The sharp rise in Colorado Fuel and as attributed to the activities sw_pool. The excitement in Chemica Ao t the than Tess in ular indust they came \cturers of clectri nd the fact that W n cetting a substantigl share awn increasing attention stock. " The com- fiscal ending March a surplus. after all o <and dividends, of $6.278.587, as compared with a deficit in the pr vious year of $147,506. Dividends on the common are at the rate of $4 an- nually, with indicated earnings of ab ment has ous Players Comment. The opinion is quite generally held that the short interest in Famous Players which has been built up in the past few weeks has become un- usually lar There are few who been optimistic lately on the Famous Players situation, chiefly be- cause of the reports that the com h&s been facing a serles of legal fights, A sufficient number of share- helders have unloaded thelr stock to cause a sharp decline, and in addi- iton the shorts have been active. To- day Famous Players appeared to be under the influence of these latter attempting to cover in some of their commitments. 2. O here s talk of a possible “melo i the near future in connection with Sputhern Pacific, according to_those Who have observed the buying in this stock, is said to have been ning from the vast traffic Southern P cent. Oper: of its 1 in’ 1023 is expected $10 a share on the outsta Averages For Augus A prominent Broadway wire house, in its market letter tod entered cognizing its seas- oxal bullis mpnths in twenty previous record seventeen. It is the last March to show sgeurity prices vesterday’s high Weeks). there was a average points, or 4 isi pretty fast work. ', CLOSING IS IRREGULAR. which recently The fruit on eld around ding stock. cas the ear made st month since net gain in August 6, to than per cent. This Pools Push Many Stocks Higher in Today's Trading. BY the Associated Press W YORK, August strength characterized today’s stock market. A reactionary tendency was in evidence at the opening, but a re- symption of pool operations brought about a rally which was accelerated by the formal announcement of a re- sumption of diplomatic_relations b. tween Mexico and the United $ Sales approximated 750,000 shares. The closing was irregular. Buying of the Northwestern railroad aiid Tobacco shares in the late deal- ings was counteracted by the usual week end profit taking in other quar- e SEEK QUICK PAYMENT ¢ IN BROKERS’ FAILURE Zimmermann & Forshay Can Pay About 40 Per Cent at Once If Creditors Agree. —Quiet YORK, August’ 31.—The committee of Zimmerman New York Stock Exchange ich failed recently with labilities of about $5650,000, has ubmitted a plan to creditors which i‘uuld provide for prompt payment out of quick assets of about 40 or 50 per cent of admitted claims. The ¥emaining assets of the firm would e turned over to a corporation for uture liquidation. P1f the plan Is approved by creditors, it- will be made effective at_once. Q@aick assets in the hands of the r ceiver have a value of about $2,350 0P0, and include cash, securities, do- mestic credis, two seats on the New }Frk Stock Exchange, foreign ex- 'NEW reditor ange, bullion and speele. Among slow. assets are claims agalnst the alien property custodian aggregating $1,350,000. EXPORTS AND IMPORTS i SLUMP DURING JULY dermnny. Japan, China and Canada Have Increased Exports to U. S. //Germany, Japan. China and Canada increased their exports to the United States during July, it was shown in fgures made pubiic today by the @ommerce Department, but the gen- eral totals for the month, both in fmports and exports, revealed lower ures, as compared with June. _Exports from the United States to @ermany increased $6,000.000, and in- ases also were recorflsd in_ship- | ments to-Japan, Chile and Colombia. that | N v FINANCIAL. THE EVENING. -'STAR;- ~WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Dirct to The Star Office Allied Chem | Allied Chem Allis Chalm Am Agr Che Am Ag Chm Am Bosch. Am Can. Am Can pt Am Chicle C AmH & Leal AmH & Lea Am Internat Am Locomot Am Radiatof Am Snuft. . Am Steel Fd Am Sugar. Am Sumatra Am Tel & T+ | Am Tobacco AmW W h% AW W% { Am Woolen. Anaconda Arnold Consf | { Atchison. Atchison pt: Atlan Cst Li Atlantic Gul Atlas Powde: Barnesdall ( Batopilas Mi Beechnut Pa, Beth teel. Beth St! i Calif Petrol. Calumet & A Canadian Pa Central Leat! Century Rib Cerra de Pas: Chandler Mo! Chesap & Oh! Chi & East I Chi & E 111 p! Chi Great W Chi Mil & St = ‘Chi Chi R 1&P6% Chile Copper Chino Coppet Coca-Cola. Colo Fuel. Cons Textile Cont Can Continent: Corn Produc sden & Co sden pf Cuban-Am Si Cuba Cane S Davidson Ch el & Hudso! Deere Co pf. Detroit Edis Eastman Ko c Stor Ba Erie. . Erie 1st pt. Erle 2d pt. Fisher Body Fisk Rubber Fleishman. | Gen Electric | Gen Motors | Goodrich. Goodrich pf. | Gt Northern Great Nor Or | Gult 5t Steel Hayes Wheel Homestake. Houston Ol1. { Minots Cent: Indiahoma. . Indian Refin Inland Steel Inspiration In Ag Chem | Int Cement. In CombustE... i Int Harvester.... Ajax Rubber. Alaska Gold. . Allis Chalmer: Am Beet Suga Am Car & Fdy.. Am Druggist.. Am Linseed. . Am Metals. . Am Safe Razor. Am Smelting. Am Woolen p? Am Zinc & Lead Austin Nicho!s.. Baldwin Loco. .. 128% Balto & Ohio CaBahan Zinc Cent Leath pf.. Certain-Teed. .. Foundatjon Co. Freeport Texas. Gen Am Tk Car. | Gen asphalt. it | Gen Asphalt pf.. Gen Mot 6%-deb. four | Gen Motors pf overy of nine | Goldwin Corp. .. Hendee Mfg. Househ'd Prod. . | Hudson Motor: % ! Hupp Motors Ind Oil & Gas. Inland Steel. . Open. % % 68 108% 43% 92 17% 40 31% 37 97% . 107% 165% 1% 4% 8y 44 19% 22 73% 43% 83 5% 583 . 137 36% 65t . 224% leg. 124% L. 148% pf. 62 pt. 92 . 86 102% pf. o m. . pf.. th. . pt.. "l .. v r. tab. Associated Of . 88 . 113% 16 56 3% ne. e r. 49% 13 % 1% 63% A). .. ck. (n). Brown Shoe. Burns Bros (A). Butte & Super... Butterick. .. riz. h 487% 143 20% 51% 31 39% 50 53 621 Mil co. fo. . Chi & Alton pt . f... pt. il &St P pt. Northwn. Chi R I & Pac. pf. Chi R I&P 7% pf. T, Cluett Peabody. Columbla Gas Columbn Carbor 46% Cons Cigar. . Cons Gasof NY. ts. Crucible Steel ug. Cuba Cane Sug. »f. Cuban Dom'can. Cuban Dom pf.. i Cuyamel Frult.. em. n. iv | D Lack & West. on. . Dome Mines. Dupont (E1). dak Eaton Axle & Sp H Endicott-John. . Exchange Buffe! Pacific/| Fairbanks Co. business of { Famous Players ific has_increased 30 Per | Fed Mines & S. . Iroad lines | Fa Mines&S pt 39% 180 . 8% 44 1% 14% 46 34% 69 .. 178 15% 8244 82 17% 25 | Goodyear pf. Granby Consol.. pL.. e ! Greene-Canan Guantana Sug. | Harbishaw Cab. Hartman Corp. 86 38 16% 61 31% 51% 26% 20% 106% 4% ais 5% 34% 1. ral. ing. Higr. % ) 69% 108% 43% 92 17% 41% 3% 374 99% 108 169 1% % 8% 44 19% 22% 4% pf..101% 1 28 13 37% 28% 75 P Int Harvester pf 107% Int Mer Marine. Int M Marine pf. | Int Nickel. ! Intl Paper. . Jones Tea. | Kansas City Kennecott. Kinney G R. Lima Locom ! Loews Inc.. Loft Inc. Loose-Wile: Mackay Cos Macy Co.... Mellinson & Manati Suga Manhat EI Si Manhat Shirf Market St R Market St pr. Market St pf Martin-Parr: Maxwell (A) Maxwell (B) Melntyre Po Int Tel & Teleg. Intertype Corp.. Invincible Oil. Iowa Central. Iron Products. Iron Prod ctfs. Island Oil.... Jewel Tea pf Kayser (Julius) Kayser (J) pf... Kelly-Spr Tire.. Keystone Tire Lehigh Valley Louis & Nash. Mack Trucks.®. Mackay Cos. Market St Ry. 6% 25 13 34 66 33 87 2 42% 40% % 6915 57 18 39 99% 84 B4t 4% 57% 61% 664 17% 6% 56 88 80% 110 pr.. 65% . 62 Co. 25 T... 49% up.. 43 t... 43% 11% 313 0. 2d.. for. Marland Oil.... Y., (20% Mathison Alkill T. . Met Edison pf Mex Seaboard. Mex Seabd ot Miami Copper. Middle St Oil. Midvale Steel. .. Ainp & StL ). Low. Close. % ¢ bl 89% | 108% A3% 92 17% 41% ! 81% 36% 98% 108 167 1 % 8% 44 19 22% 3% 51% 26% 20% 106 4% 4% 5% 344 101% 28% 12 374 23% 76% | 1074 | 6% | 243 12% 34% i 66 Open. High. . Close. 1% 11% 29% 30 10% 11% 30 30% 64 64 21% 21% 2 5 9% 9% 18% 18% 92 92 45% 46 54 53% 63% 654 8 3% Mo Kan & Tex.. Mo K & Tex pt. Mo Pacific Mo Pacific pf Maoutana Power. Montg'y Ward. Mullins Rod: Nash Motor: Nat Blucult. tl Cloak Natl Enamel . Nat R of Mx 1st. Natl Ry of M 2d. Nevada Copper. N Or Tex & Mex. 88% N Y Air Brake.. 35 NY Air Brk (A)» 48% N Y Canners. 28 NYCentral..... 99% NY Chi & StL... 71 NYC&StL pf(n 87% NYNH&Hartrd. 13% Norf & Western 104% North Amer. 224 44% 59% 1% 9 45% 831 34 13% 60% 58% 12 43 3 42% 611y % 2% 11% Oklahoma Prod. Otis Steel . . Owens Bottle Pac Gas & Elec. Pacific Ofl...... Packard Motor. Pan-Am Pete. .. Pan-Am P (B).. Parrish & Bing. Pennsylvania. Penn Seabd Stl. Pers Marquette. Pere Marq pf. .. Philadelphia Co Phillips Jones. . Phillips Pete. Plerce-Arrow Plerce-Ar pf. Plerce Ol1 Pitts & W Va PItts&W Va pf. Pressed Stl Car. Produc & Ref... | Pub Service Pullman Co Punta Alegr: Pure Ofl.. Rapid Tran Sec. Rap Tran Sec pf Ray Con Copper Reading....... Reading 2d pf. . Replogle Steel.. Rep Ir & Steel. . Rep Ir & Stl pt. Reynolds Spr. Rey Tobac (B) Rey Tob p{ B... St Joseph Lead. St L & San Fran St L&San Fr pt. *|the Schulte Store: Seabd A Lipf.. Sears Roebuck Seneca Copper. . Shell Tr & Tran. Shell Union, Sinclair Ofl. Skelly Ol1 E So Porto Sugar. South Pacific. .. Southern Rwy. . Southern Ry p?. St Ofl of Callf Stand Oil of N J. StOilof N J pt Stewart-Warnes Strombg Carb. . Studebaker. Submarine Bt. Tenn Copper. .. Texas Company Tex Gulf Sulph. Texas & Pacific. Tex & P C & O1l. Timken Bearing Tobacco Prod Tobacco Prod A. Trans Cont OM. Twin Clty pf. Underw'd(new). Union Pacific United Drug. Utd Ry Inv pt. Utd Retail Strs. U S Cast I Pipe. USCastIr P pt. U S Food Prod. U S Indus Alco. U S Rubber. U S Rub st pf.. US Smelt&Ref. USSmelt & R pt U S Steel. U S Steel pf Utah Copper. Utah Securiti| Vanadium Corp. Van Raalte. Va-Car Chem Va-C Chem pf.. Vivadou Wabash Wabash pf (A). Waldorf (new). Web & Hellbrn. Western Md... . Western Md. 2d. West Pacific. West Pac pf.... Western Union. Westhse E1&M. Wheeling&L E. Wheel & LE pf., White Eag Oll. . White Motor. Wickwire Wilson Co. Willys-Overld. . Willys-Overl pf. Woolworth. Youngstn T 66% 246% 67 66% 7 246% 24616 2463 67 67 67 High, . Last. Call Money. E'h l;; 51/5 HOURLY SALES OF STOCKS 11am.....1567600 12m. 244500 1p.m. -333300 2Zp.m 425100 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ——Noon.— 1024 H % Aluminum Co. of Amer. Aluminum Co. of ‘Amer American Cotion OIl b American Suger 65 1037 Amer. Tel, & Tel. 68 1024, American & Tel. 6s 1925 Anaconda Copper ts 1929...... 1 Anglo-American Oil Tis 1935 Canadian Northern 5% 1024. ... Cent. Argentine Rwy. 6s 1037.. Central Leather 5s 1925, 2 R. 1. & Pacitic 5 s 1927 65 1928 Goodyear T. & K, 8s 1931 Great Northern 7y 1086, Hocking Valley s 1021 Humible' 0il Kansas City T Kennecott Copper 7s 1930 Morris & Co. 7348 1930. Penna. ‘R. K. 7e 1030 Michigan ‘State Tel, 53 1924 .. M., ST P& 8. B. M. 6igs 1031, Union Depot 5348 1923, . Roebuck ‘& Co. 7s 1923 Swift’ & Co. 5s 1032, Tidewater OfI 6%s 193 Union Tank Car 78 1830, Western Unlon 6135 1986. o Westinghouse E. & M. 78 1031.. 10813 PARIS MARKET QUIET. PARIS, August 31.—Trading was qulet on the bourse today. Three per cent rentes, 57 francs 47 centimes, Exchange on London, 80 francs 40 centimes. Five per 'cent loan, 76 france 10 centimes. The dollar was quoted at 17 francs 763 centimes. BUSINESS AT GLANCE. HENDERSON, Ky., August 31— Kentucky-grown fruit will be packed for shipment to the north and west by the Henderson Fruit Packers, which_company. has been_chartered with $250,000 capital by S. L. Mar- shall, J. C. Moseley and assocates. COLUMBIA, 8. C, August 31.—Out of the old Alice mill of Wasley, S. C. has risen a new $1,000,000 corpor: tion, the Alice Manufacturing Com- pany. The company will manufacture cottom, silk and woelen goods. KANSAS CITY, Mo., August 31.— The Bainbridge Hotel Company ghns the erection of a fourteen-story hotel here to cost about $1,100,000. The structure will be of steel, -concrete, brick and terra cotta. MEXICAN BONDS MARKET FEATURE Upturn Follows Announce- | ment of Recognition by U. S. Rails Sluggish. BY GEORGE T. Special Dispatch to The Star. NEW YORK, August 31.—Bond quotations fluctuated today ewith little regard to the news. The reported ecritical situation abroad resulting from the ultimatum of Italy to Greece had no particular- ly disturbing effect. There were fractional losses In some of the more speculative foreign bonds. Investors and traders in this country have be- come hardened to recurring stories of disturbances in Europe and at present levels the yield on these for- eign securities seems to compensate for any risk involved. As far as {South American issues are concerned sentiment will be tested when the expected $60.000,000 Argentina loan is offered next month. Any new Bu- ropean financing will depend = on auite difforent factors. Strike Fears Halt Trading. Speculation rafls dragged along i without much change. On the one hand the threatened coal strike was not much of an adverse influence, and on the other hand there was no great lamount of buying for the rise. There was u slight reaction in the St. Paul Eroup after their advance Thursday. but the Eries did better. Trading In the high grade invest- ment description was dull. Most of these issues seemed heavy. Union | Pacific first 4s were off fractlonally. :Thfro a report that the Union { Pacific was about to offer some new bonds. Oregon Washington Railroad and Navigation 48 were a little higher again today. United States govern- ment loans were not much changed. There was further activity in the forti honds such as the Virginia Carolina Chemical and the American Agricultural |ssues, with some slight advance In prive. Bar issues were a little 16wer. The market was evi- dently awaiting developments over the holiday. Greater acivity is ex- {vected next month Tpturn in Mexican Bondw. One estimate of new lssues in pros- pect makes the tota! thirty-two, with a principal amount of $100,000,000. This inciudes the Argentine loan In the late afternoon there was an upturn in Mexitan bonds, following announcement by Secretary {Hughes that the United States and HUGHES. matic relations. and Mexican Both Mexican 6s advanced sharply. CHILDS COMPANY MAY SPLIT UP COMMON STOCK Proposed to Make Shares $25 Each. Other Notes in Wall Street. By the Associated Press. NEW YORK., August 31.—Wall street heard reports today that the Childs Company is discussing a plan to split up its $4,000,000 common stock of $100 par value intn shares of no par value. If the plan dopted. it is sald. dividends prob-+ would be co nued at a rate the p ent §8 per year on the §100 value stock. The General Petroleum Corporation reports net income for the twelve ended June 30, 1923, @f $6,- equaling 491,397, United Drug earned a net profit of 2,512,780 for ‘the six months ended June 30. After preferred dividends were pald there was a surplus of 3 87, or $3.62 a share on the 500 common stock outstanding. {MARKED DECLINE IN COTTON CROP Drought in Oklahoma and Texas. | excessive rains in the southeast, the boll weevil and the leaf worm caused a marked decline during August in { the condition of the cotton crop, the Department of Agriculture announced i toda at 1 45! .788,000 bales, as compared with a forecast of 11.516,000 bales as of July 25. The condition August 25 was estimated at 54.1 per cent of nor- imal as compared with 2 per cent one month earlier, and the indicated vield per acre dropped from 143.9 pounds to 134.5. The condition of 42 per cent of nor- mal in Georgia reflected the extent of | weevil damage In that state, it was said, while the drop from a_condition of 82 per cent July 25 to 71 August 25 in North Carolina revealed the vear in that state. Prevalence of the worm. leaf worm and other in- in addition to the boll weevil also was reported to be causing con- iderable damage throughout the cot- i _states. The condition on August centage of a norm, cast of production, bales, by priucipal states are: Vir- {ginia; 93 and 50: North Carolina, 71 {and 385: South Carolina, 57 and 708: ieorgin, 42 and 827; Florida, 30 and 17; Alabama, 52 and 828; Mississippi, 48" and_858: Louislana, 53 and_361; Texas, 55 and 3,722; Arkansas. 57 and 948; Tennessee, 64 and 415; Missouri, 67 and 193: Oklaghoma, 46 and 791: “alifornia, 88 and 43; Arizona, 90 and 83; New Mexico. 88 and 59. RAW SUGAR HIGHER. NEW YORK. August 31.—The early raw sugar market was firmer and %c higher. with Cuba’'s now quoted at 415c cost, and freight equal to 6.28 for | centrifugal. THere were sales. of 12,060 bags of Philippine Islands, due eptember 10 at 6.22, and 22,500 bags of Cubas at 6.28. | 'The raw sugar futures market was . in per- ."and the fore- in thousands of | irregular during the early operations { and prices after deciining six to seven i points under scattered liquidation on realizing. rallied. on covering and trade buying, and at midday were 2 to 4 points net lower. Trading was not very active and seemed to be of an evening up_ charatter for over the three-day adjournment. 3 The refined market was steady. and list prices were unchanged at 7.75. { TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 3%s September 15, 1923.. 41(s September 15, 1923.. 45’ December 15, 1928 43s March 13, 1024 8%s June 15 1024 538 September 43]s March 13, 4145 June 15, 1925 - 4%s December 15. 1925... 99932 991116 4%s March 15, 1926. .. .0 100532 100% 4 . 1026 00532 v09-32 sooe.. 100 11-32 160 7-16 99 2032 100 EX-DIVIDEND TABLE. September 4— Cuban American Sugar pf., q. Producers and Refining. q September 5— Atlantic Terra Cotta pf.. q. E. I du Pont de Nem..'q Spec ($10), ann. Spec. ($10), a. Elect. Spec.. q uy Companies, q Mackay Companies’ pf., q Mergenthaler Linotype, q Truscon_Steel, ‘q United States’ Res Utah Apex Mining Co., 4. September 6— North American Co., q. North American Co.' pf., 4. 1005 100 15-16 101 1-32 1 7 $1.75 ‘50 .00 150 e 15 2% 175 3 2.50 30 £ K Mexico had decided _to resume diplo- | in placing the indicated crop | | first severe effects of the pest thise PhilaCoref 6s A -D...C.,..FRIDAY, AUGHST - 31, _1923. _ ON NEW YORK BONDS'QT'OCK'»EEHANGEI Received by Private Wire (Bales are in $1,000.) UNITED STATES BONDS. (Fractions represent thirty-seconds. Example: 101-1 means 101 1-32) Sales. High. Low. Close. Lib3%s. . 10 100-1 100 100 Lib1st 4% 43 98-12 98-9 98-10 Lib 2d 4. 98-11 98-8 98-11 Lib 3d 4%s 98-29 98-27 98-28 Lib 4th 4% 98-11 98-9 98-10 UB4Ks 19l 99-26 99-24 99-24 FOREIGN. Sales. High. . 4 101% 17 89 .24 99% 22 96% . 100 110 83% 6% B1% 95% 100 99% 1043 103% 104 43 109% 99% 93% 108% 95% 1% 264 95% 93 4% 20 964 934 9244 8074 1% 6% 76% 55 53% 344 874 100% 109% 98 91y 71 5% 106% 100% 5 91 99 83% 67% 104% 1% 102 101% 102 102 MISCELLANEOUS. Am AgrChem7%s 71 99% AmCotton Oil5s.. 1 704 Am SmIt&R 1st bs. 914 Am Sml’ &R 6s.. 101% Am Suga Ref 65 102 AmT& Tcv 68 116% AmT& T bs 98% AmT& Tcltris.. 4 924 Anaconda cv db 7s. 62 180% Anaconda 1st 6s... 42 97% I Armour & Co 4% 6 83y | Atlantic Refin 5s. 98% Bell Tel Pa s rets 9714 Eeth Steel 5155 '53. 0% Beth Steel 1f 55 95 Beth Steel s £ 6s. Brier H St 1st 5145 Bklyn Edison Ts D. Bkiyn Ed gen 5s. . Central Leather 68 {Cerro de Pasco 8s. . {Chile Copper 6s ICinG&ESH% |Commonwth P 6s. . Con Coal Md 1st 5s. Cuban-Am fug 8e. Cuba Cane cv d 25 Cuba Cane cv 7s '30. Dery (DG) 7s Det Edison ref s6.. Diamond Mth 7%s. Du Pont de N 7%;s. ! Duquesne Light 6s. | E Cuba Sug 7%s. .. | Empire F&G 7 %s.. | Fisk Rubber 8s |Gooarich 6% {Goodyear 851931 Goodyear 8s 1941 Hershey 6s 1942 Humble O&R 6% Illinois Bell 1st 5 {Indiana Steel 5s. Int Mer Marine 6 Int Paper 15t 58 A. Int Paper 18t 5s B. KCP&Lt5sA 52 Kayser (J) 7s. . Kelly-Spring 8: Liggett o Myrs 7s. Manati Sug sf 73 Marland Oil 88 '31. Mer & Mer s f 7s 42 | Midvale Steel 5s. .. 1 Morris&Co 1st 4%s {Nat Tube 1st 5s. ... Low. Close. 101% 101% 88% 89 99% 99% 961 96% 100 100 110 110 83 88 6% T6% 814 B1% 95% 95% 100 100 99 99 104% 104% 103% 103% 103% 104 42% 42% 109 109 99% 99% 93% 93% 108% 108% 95% 95% 9l% 91% 98 96% 957 95% 97% 98 3% 94 891 89% 96% 98% 92% 93 92% 92% 80% 0% 7 76% 76% 6% T b53% B52% 33 87 100 109% 95% 94 0 5% 106% 100% 90% 99 8314 664 1044 1% Argentine 7s. Austria 7s ctfs. Belgium 7% Belgium Belgium 8 Bern 8s Bolivia 8 Bordeaux 63 Brazil 7s. Canad; 1931. Canada 5s 1952. Chile 85 1946 Chile 88 19! Chile 85 19 2 Chinese Gov Ry s. iChristiania8s..... Cubab%swi Czechoslovakia 8s. CenSwaatiama Denmark 8s . T -nmark 6s Dutch E15% Dutch Eact I 68'47. Dutch East I 65'62. French Govt 8s. ... French Govt 7%;s. . Halti 6s ctfs |Ttaly 6155 1925 Japane: Japanese 2d 4338 Japanese 4s Jergen UM 6s Lyons 6 Marseilles 6 Mexico 6s. . Mexico 5s large. | Mexico 4s.. Montevideo Netherlands » Bowo~ ooas Orlent Dev deb 6; Paris-Ly's-Med 6s. Prague 7 Queensland 7s. Queensiand 6s. Rio de Jan 85 194 Sao Paulo.State.§s. Selne, Dept of, 78 Serbs Crotes Slo 85 Sweden 6s o Ud Kingm s Ud Kingm 6%s '37. Uruguay 8s. 99% 0% 91 101 101% 1164 9814 924 100% 9T% E3% 93 974 9014 95 9514 94k 108% 974 97 122 99% 97 861, 561y 1067 92% 8il 7815 1034y 105 108 103% 9344 92% 103 99ty 103 116 9815 26'% 93 0% 9% 101 101% 116% 98% 9214 100% 974 £3% o84 974 901y 95 984 94% 1081 974 97 122 9915 973 864 6% 1067 92% BT 794 104 105% 108 104 3 3 9 5 11 923 103 9974 103% 116 98% 9374 T Baly 84y 9019 104 107 19 98 102% 105% 100 9T s 110% % 99% iNew Eng Tel 6s. N Y Ldsn 1st 6%s. NYG EL H&? 5s. |NYG SL H&P 4 N Y Tel 6s'41 ‘Tel 6s'49 104% 1055 941 1% N States Pow bs... 204 rthwst B Tel 7s. teel 73%s. | Pactac Gas & E15s jfa:T & T 6352, MR RROENNRE~AAREWIDEORD e w© 6% 101% 12 82 108 99 95% 88% 457 95% €3 95% 100 105 92% 105% 107 111% 86% 106% 101% 88%’ 96% 87 69 103 109% 106% 95% 954 85% 103 29 Plerce-Arrow 8s. .. Producers & Rf §3. Producers Public Service bs. P.nta Alegre 7s. Sharon Stl H §s Sinclair Oil “ 5. . Sinclair Oil 61 w i ©.1Crude Oi! 6s. Sin Crude Ol 51 Sin Pipe Line 5s | South Bell Tel §. So Por Rico Sug 7s. Stoul & Tube 7s. ... Tc :n Elec Pow 6 Tobacco Prod sf Ts Toledo Edn 1st 7s. = U S Rubber 7%s. U S Steel s f 35. Utah Pow & Lt bs. . VertientesgSugar 7 Va-Car Chem 7s.... Va-Car Ch Tis w. Warner Sugar 7s. . West Union 634s. .. ‘Westinghouse 7s. . " “ilson (- Co 1st 6s. W n&Ccv T8, ‘Wilson & Co cv 6s. Winchester A 7%s. 2 103 Youngstn S & T 8 99 e DIVIDENDS. Pe- Pay- abie. Sep. 15 Sep.- 29 69 103 109% 106% 95% 95 85% 103 99 96 85% Cramp Eng Ship Foundation Co... Foundation Co pt Gen Rwy Sig pf. Tale Noval Lig- My Motor. Wheel...... Ntl Bk of Comm. Pure Oil, 5%5% pt Pure OIl, 6% pf.< Pure Oil. 8% pf.. Un Carbide & Car Vulean Detin pt. oo ROADS’ EARNINGS. i 221 0 ean s PYTITIFTIIIIIIIS AR NEW YORK, August 31.—The Penn- sylvania railroad's net operating in- come for first seven months, on Dow- Jones formula, indicates annual rate of $5.30 on stock, compared with $5.80 on same basis for first six months and actual earnings of $3.20 in 1922. Louisville and Nashville's net oper- ating_ income for the first seven months, on Dow-Jones farmula, indi- cates annual rate of 13.5 per cent on stock, compared with 13.2 per cent on same -basis for -first six months and actual earning of 9.1 per cent in 1922, Atlantic Coast Liné's net operating income: for first seven months, -on Dow-Jones formula, indicates annual rate of 26.6 percent on common stock, compared with 27.8 per cent on sameé Basis for first six months and actiwal earnings of 16.9 per cent in 1923 99% | 98% | 99% | 85% | 7734 | 8244 | Direct to The Star Office. RAILROADS. Bales. High. Ann Arbor 4s 1 55% Atchison gen 4s... 47 88l AtlanticCL1st4s. 1 86% Atlantic C Licl 81% B&Oprinay 95% B & O gold ds 7% B&O6s.. 100% B&Oev ks 81% B&Orefbs..... 83% B&O PLE& WV 4 76 B &O0SWdiv3ys. 24 B & O Toledo 45 64% BkIRT 7s'21ct... 88% Canadian North 7 113% C..nad Pac deb 4 80 Car Clinch & O 6 967% Cent of Ga 6s...... 11 101 Central Pacific 4s. 87% Ches & Ohfocvbs.. 3 89% Ches & O cv 414s. . 86% Chl & Alton 33;s 30% Chi B&Q 1st rf bs. . 98% Ch! & E1ll gn 68 78% Chi Great West 43. 48% CN & Puget Sd 4s. 57 ChIM&S P re 418, 53% Chi M&St P cy bs. . 60% !’cmmmsmu'zs.. 7% Close. 55% £8 86% 81% 96% TT% 100% 81% £3% 6 © 94 64% 87 113% 80 96% 101 87% 89% 8614 30 9814 8% 4% 57 53% 60% ki 59% 72 Low. 55% 88 86% EITE T ann Chi M&S P cv 41,8, 59% C' M&St P 4534 72 CM&StPgn 4, 79% Ch RI& Pacrf4s k3 ChiUn Sta 4%s 8975 ChiUn Sta €3%s. 114% Chi & "V Ind cn 4s. 0% CCC&StLrf6sA. . 101% Cleve Term 5s ctfs. 95% [Colo & Sou 41;s. 82% 1 € SaRI6s . 86% | De: & Hudson 5145 00" Den & Rio G cn ?l l’lfl’i D&RG 1stre6s.. 44 Det United 414 864 Erle 18t con 45 58% Erle con ext 78 Erle gen 4s rie conv 4s A Erie conv 4s B. Erie conv 4s D Gr Trunk sf db 6: Grand Trunk 7s. Gr North gen 7s. . . Gr North gen 534s. Green B& Wdb B. Hud & Man ret § Hud & Man aj 55 11 Cent ref 55 '65. . Int Rap Tran 5s... Int Rap Tr 5s stpd. Inter R Tran 6s. Int Rap Tran 7s. Int & G Nor af 6s. . Int & G Nor 1at 6 Towa Cent rf 4s. va Cent 1st 55 FtS4s Kansas City S 3s. . Kansas City S 5s. . Kan City Term 4s. % 89% 114% 70 6'n 57% 104 50 53% Lake Shore 4s°31. . Louis & N uni 4s Louls & N; Louis & Louis & N &s 2003, Market St en 5s. Mil M & Lrfexbs.. M&StListrfds.. M StP & M 613s. IMK& T 1Ist4s. ... |MK&Tprinssi. IMK&T4sB.. MK&TésC | MK & Tadjbs 13> Pacific gn 4 ontrl Tm 1st qrm 4s... O Tex &V in bs. {NY Centgen 335, Y Cent deb 6s. Y Centrib, {Ne |Xe | W & Bos 43%s. Norfolis & W cn 4s. Northern Pac 33 | Yorthern Pac 450 XNorthn Pacri6s.. 3 Northern Pac b5 D. Ore Short L ref 4s. |Ore-T7ash 1at rt s 20 { Pennsyl gen 5s Pennsyl gen 4}; Pennsyl 6%s. .. Pennsyl gold 7s. Rapld Tran 6s w 1. Reading gen 4s. 1 StLIM&S R&G ds. StLIM&S 4s'29. StL&SFpidsA.. StL&SF prin bs. StL& SF inc 6s StL & SFadj 6s. . tLSW st is {SanA & ArnPs.. cab’d A L ref 4s.. cab'd A Ladj 5s.. {Seab'd A L con 6s.. Sou Pacific cv 4s Sou Pacific ref 4s. . Sou Pacific clt 4s. . Southern Ry 1st 53 Southern Ry gn 4s. Southern Ry 615s. Third Ave ref 4s iThird Ave adj 53 Union Pac 1st 4s | Union Pac 1st rf 43 Union Pac cv 4 | Union Par cv 6s. | Virgiria Ry 1st 58 i VaRy & P 1st bs. Western Md 4s.... Western Pacific 5s W : Shore st 4s. Wheel & LE cn 4s. Wisconsin Cent 4s. Tt 46 2% 241y 675 1013 564 51% *3 6% 108 94 811y 60tg 79% 79% 61 79 6015 79% 2088000 12noon 2789000 3623000 2p. 4371000 FOREIGN EXCHANGE. H August 31, 1923—11 m. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. podua. ... 24g0 ao'lar Paris. frane Brussels, Berlin, ma Rome, Zuriel Lthen Sniria, poreta - Vitha, "erown | Budapest, crown Prague, crown. 00014 gt ® 0241y Stockholm, crown By the Associated Press. NEW YORK, August exchanges irregular. Quotations (in United States dollars). S Great Britain—Demand, 4.54% cables, 4,541%; 60-day bllls on banks, % nce—Demand, .0559%: Italy—Demand, .0434; Belgium—Demand, ;. Germany—De. 0000011, Ho! cables, 3 Sweden: 31.—FKoreign 0000001 emand, Norway—Demand, .16 mand, .2658. Denmark—Demand, .1 Switzerland—Demand, .1802. Spain— Demand, .13486. Greece—Demand, 0177, Poland—Demand, 000004 % Czechoslovakia—Demand, .0294. Jugo- slavia—Demand, .0105. “Austria—De- mand, .000014%. _Rumania—Demand .0046." Argentina—Demand, .3237. Bra~ zil, demand, .0950. Montreal, .97 21-32. COTTON QUOTATIONS. NEW YORK, August 31.—Cotton, fu- tures opened’steady; October, 24.3 December, 24.28; January, 23.9 March, 24:00, May, 23.95 bid. Bids steady... October, 24.53; December, 24.45; January, March; 24.21; 2417; May, - NEW ORLEANS. August 31.—Cotton futures opened. steady. October, 23.66; December, 23.75; January, 23.72; March, 23.71; May, 23.60. Futures, 11 a.m.—Bids steady; October, 24.60; De- cember. 24.69; January, 24.64; March, 24.63; May, 24.52. EGG PRICES HOLD FIRM. - NEW YORK, August 31.—Eggs— Firm; reeeipts, 14.029 cases; fresh gathered, extra firsts, 32a35; do., firsts, 2816a3l; do;, seconds and poor- er, 25a28; nearby hemnery whites, locally - selected extras, 53a55; state, nearby and nearby western hennery whites, firsts to extras, 39ab2; nearby hennery browns, extras, 40a47. 79% | FINANCIAL Grain, Produce and .Live Stock LOCAL WHOLESALE MARKET. Very slight changes in the price of beef have been noted the past two waeeks. prevailing prices, while rough beef is moving rather siowly. High-grade lambs are high, the price having increased 1 cent a pound the past few days. Cholce stock this morning was quoted at 30 and 32 cents, while light lambs sold as low as 15 cents. The veal market is also reported high. Demand for meats probably will ‘Increase as the fall season ap- proaches, gales usually being slow in hot weather. Eggs — Strictly fresh, selected, candled, per dozen, 33a34; average re- ceipts, 31; southern, 30. Live poultry—Roosters, per Ib.. 17: turkeys, per 1b.. 25; spring chickens, per 1b., 30a3 keats, young, each, 40a50 fowls, per Ib., 26 Dressed poultry — Fresh | spring chickens, per Ib.. 32a38; win- | ter chickens, per 1b., 30a35; hens, per j1b.. 30: roosters. per 1Ib. 18: tur- keys, per 1b., 35a40; keats, youns. | each. 60 Live stock—Calve: 12; medium, per Ib, 1lall¥; thin, per 1b, 6a7. Lambs. spring, per lb. 13a14; live pigs, 3.00a5.00 ecach; live hogs, per 1b., 914, cholce, per 1b., sns’ 8414 | Green fruits—Apples, new, per bas- ket, 50a1 California_oranges, | erate. 5.00a6.50. Florida. | Lemons, box, 7.00a8.00. 60 "eaches, per crate, £.00 sket, 1.00a1.50. per crate, 5 1.50a2.00: Delaware, 1.50a2.00. potatoes, No. 2, potatocs, bag. 4.30a5.00. New sweet potatoes,.00a5.50 per bbl |New York lettuce, per crate, 1.00a2.00, ! Romaine lettuc r crate, 1.00a2.00. Cabbage, crate, 00 nearby, 1.00a 2.00 per bbl geplant, per cra 1.50a2.00. Tomatoes, 1a bu. basket, near. by, 25a30. Beans, 1.50a3.00 per bbl. 2.50a3.50 per basket. New Yo celery, per crate, 4.50a5.50. Squash, 25a 50. “‘Peppers, ' per crate, mearby, 5075 Kale, per hbl. 1. ach, per crate, Thal lima beans, per quart, cucumbers, per bushel, grown cucumbers, per bushel, Sugar corn, per dozen, 15: 0. Spin- New York .00; home- GRAIN AND PROVISIONS. BALTIMORE. Md., August 31 (¥pe 1).—Potatoes, new, harrel. a 0: per 100 pounds. bushel, 00 ‘sweets 0a5.00. Cabha ots, 100, 4.00a " dozen, 10a20. Cucumbers, . Eggplants. bagket, basket, 30 Lettuce, 5. Onio: pounds, 2 0. Tomatoe 30250 packing stock, 80a1.00 Apples, barrel, 150a3.00: 100 basket, bushel, 7 .. Huckleb ‘hes. . bush 50a1.00. Plum. red winter, spot, winter, garlick red ‘winter, Wheat—No, | No argoes on grade, arlicky, 1.00; No 59, new, 5.00 per barrel: No no quotations. Track 2 or bette: white, old, Hay— Under | more liberal receipts the past few days the market for new hay rules er at a range of 25.00 to 28.00 per ton. All he ever. has to be sold at a i j Straw—No. 1 tangled T 16.00: No. 1 wheat, 12.00a1 oat, 13:00a14.00. DAIRY PRODUCTS. BALTIMORE, August 31 (Spe- cial).— Live poultry—Spring chickens, |25a3 ; old hens, 20a 25 : old roosters, 15a16; pigeons, pair, 20a25} 40250 off native and nearby 51; southern, 28. good to fancy creamery |dueks. 15a2 {guinea fowl. 1 Los 35a4 Ipackea, dairy {process butier, 38 j CHICAGO, August 31 (United § | Department of Agriculture).—Hoy Receipts, ,000 head: fairly all interests buying; t higher; bt {choice 150 to 240 averages, tor, 9.60; desirable 230 to pound { butchers mostly. 5a9.25; packing isows large ; good, strong- weight pig 25, 1 5.000 head: beef rlings, steady; best <. 11.35; mixed vearlings, eteers nd heifers’ 11.25; numerous loads teers, 8.25a11.00: she st dull. {steady; ‘bulk, largely héavy grass 4.00a5.25 canners, s, steady to weak; light bolognas, 1 4.00a24.25 kK to packers, and feeders, bulk, 5.50a7.00. Sheep—Receipts, 14.000 head: prac- tically all classes and grades of kill- {ing stocks steady: feeding lambs strong; good and choice western lambs to killers and shippers, 13.25a13.50; native mostly. 12.50a13.00; culls large- I 9.00a9.50: bulk fat ewes, 5.75a7.00; 1 ding lambs generally, 13.50a13.60. ‘good and 9.35a9.60; dull, around stead TODAY'S CHICAGO PRICES. CHICAGO, August 31.—Warlike European news, an advance in quota- tions at Liverpool and strength in ! the local og market gave the grain market here an upward tendency dur- ling the early dealings. Trade, how- ever, was of a light character, com- mission houses being moderate buy- ers at the start, with little support being afforded the market. Opening prices, which ranged from % to 'sa % higher, with December 1.05% to {1:05% and May L1134 to 1.113%, were followed by slight further gains and then something of a setback. Corn was Influenced by the firm- I'ness in wheat and the upturn in hog values. After opening % to% up, with December 673, to 68, the corn market advanced a trifle more and then suffered a slight reaction. Trade in oats was featureless. After starting unchanged to % higher, with Decomber 39% to 39%, the market hardened a little and later began to sag. Provisions were higher, a strong feature at the start being a_ report that loose lard was selling at Septem- ber prices due to a good cash demand EAT— High. TLow. Cloge.. September 1011 1005 1.00% December 1053 1048 104 Sans L1l% 1.10% 1.10% T September 851 December o ARI September October RIBS— September October RUSHING OUT COAL. Shipments From Pottsville, Pa., Are Double Normal. Special Dispatch to The Star. POTTSVILLE, Pa., August 31. ments of coal from mines in this ity were very heavy today. Rail ship- ments are about double normal and lines of trucks are rolling steadily be- tween here and Reading. ST. LOUIS, August .31.—Capacity production of coke is the rule at the St. Louis ovens, and large accumula- tions are being gathered. at. storage yards. Production of bituminous coal also is Increasing in this territory, with some few operators behind with orders. 1180 1197 ~ Cholce beet is in demand at | Kkilled | Can- | per | 2/50a3.50. | Home-grown | ted or damaged hay, how- | active, | uneven | NEW PEAK REACHED IN BANK CLEARINGS $81,618,588 Makes Record for August in District. Local Stock Trading. A new peak for the month of August was reached by bank clear: ings during the month ending today, Wwhen total checks passing through the local association amounted to $81,615,588, according to announce- ment by Charles E. Bright, manager of the Washington Clearing House | Association. A total of $75.871,932 was cleared in August. 1922, and $50,- 351 passed through the local as- sociation in July of this year. The maximum amount cleared in any ona month, stands at $101,405,088, reached last May. A compilation of figures revealy that, for the vear to date clearing( for the first eight months of the cur. jrent period are approximately $100,« 000,000 ahead of those for the corre- sponding period of 18732,462,493 and s tively. © This, in a word, me. ns that additional business to the amount of #bout $£160,000,000 has been transacted here in the year to date Exchange Trad| & Light. Light but well varfed trading. at ker prices, featured the r, namely, closing ¥ common was active te the nt of one share at 61, whil ston Monotype eased [ adegat ten shares. C was®firm at 100%,. but® Riges Bank | rights dropped to 96 on a sale of one rtificate e On the b ) Ington Gas 6 «old at 101, Railway 45 at 2% and Capital Traction s at | There will be no exchange sessi until Tuesday, September 4 Financial Editor Visits Friends. (“Pop™) Fle I editor of The s been 111 for the : was & weloome rialto this morning, oh friends and renew ing. beloved. ng S past se 1 figure on th ting with o aintan Operat three to the | sion | f the panies seventy- reporting ending e represent ot ent over the corresponding per- {iod for 1a2s B Dy ng revenues for the se es for tha =i 19.285.980, 11 per for the first six he companies ex- n cost of opera- same period last scs wmounted to Moody's fal Cond | says in pa Diplo gest at le. tlement _of While this is not definitely it is worth considering t event of such a sttle commodity prices might be stimuiated by actual rovement in the fore azmand, ¥ prices by greater opti- 4 abroad. Tman nego- of French be well ons in Review of ¥ its current issus appear to sug- ibility of a set- dispute. sight, in the tiations » emer nd. Be francs n | worth watching. new labor situation July in id the Aecr has been of un- tory &e ployment 2 - dustries in many parts of the United howed the first significant de- for more than a vear, and i looks as though the inflating of labo: costs were at last beginning to sub- Close observation of the habits of | the bond market leads to the -conclu- { sion that the movements of bond { prices are likely to be of a minor ort for some years, and that profits 1l have to be made mostly through for any great 1wo es- nt, ac- tight cantile lqui- With neither of these in » may devote his energy 10 - .r of selection [ e ot bond prices as being un- the trend o mo time to have much ent profits.” the way t in bonds the sentials which . must cording to_experienc market and m: likely for some time ! fluence upon invest |MENAGE STILL SEEN | IN BIG OIL OUTPUT | él’rmlmxex-s Report Small Independ- ents Hard Hit by Lower. NEW YORK. August 31.—The pe- troleum industry is now experiencing one of the most unsettled periods in history in this count Situations similar to that exist- ing at present have Dbeen e {rienced before. but with the gigantic have grown in proportion. Despita the unsettlement, officers of the larg- mpanies do not take a pessim |tic view of the outlook and express the opinion that the industry will carry on through the current period of overproduction and emerge in a satisfactory position. They also express the opinion that e low prices for gagoline are onlv temporary. due to the stocks of “dis- tress” gasoline being thrown on the jmarket. As soon as these supplies are liquidated 1t is expected that the situation will correct itself. Just how long this will take, the oilmen reluctant to forecast because of absence of details indicating amount of “distress” gasoline on market. In the meantime, however, inde- pendent companies, according to trade reports, have been hard hit as a re- sult of the action taken. by the gov- ernors of some of the western states in reducing the price of gasoline tu 16 cents a_gallon. This price repre. |sengs a reduction of about 10 cents { |sallon from the recent retall prict and a level which producers assert il far below the cost of production. The reduction was the largest evei recorded at one time in the history cf the industry, and it was only natur:{ that Washington was flooded witlh telegrams from the smaller companies calling upon the government to tak( action to alleviate the situation. Re- lief to some extent has been given by an.advance in the retail price in thy west from 16 to 20 cents a gallon, buf despite this, opinion is expressed thal a still higher price is warranted wheg consideration is taken of other face tors in the situation. $2,000,000 INCREASE "IN LOANS IN TEXAS Special Dispatch to The Star. "DALLAS, August 31.—Loans in thig toderal . reserve district increased from $46.000.000 to $48,000,000 in the last week. Reserves inereased $25: 000, indicating a betterment of de. posits in member banks. This is be. lieved: to be the result of cotton marketing, Building in the smallet Texas towns continues active,” with homes.. small industrial plants and sthg head gasoline plants accounts ing for most of the construction. its or c arg tha the the