Evening Star Newspaper, September 1, 1923, Page 18

18 & PRICES 60 LOWER N STOCK MARKET éavison Chemical’s Break’ = and Unsettled News Are * Bearish Factors. ! ated Press. YORK, September foreign and domestic hews developments, coupled with a pre- efpitated drop of 151 points to 37 by Bavison Chemical, caused -a reac- tendency to values in today's t session of the stock @ of the other chemical certain of the independ- ailroads, equipments, oils, yries and various spe- declined 1 to 2 points, res moved counter to w 1.—Un- favorable in Nichols and General Elec- Prices recovered slightly covering end s from its early low the we was heav: 00 share; RAIL SHARES HARDLY MOVE. Sales ap- Davison Chemical Gets Most of At- tentiion on Big Board. | BY STUART ¥ The star. September 1 the violent fluct vison Chemical, whi WEST. ~Had it ations | ch has | a wh list w There w “nnouncerent crude ofl the de- an dis- or the more | ris on effect ! Draws Attention. active trading 1y reduced because and this was reflect- atc nical’s performance adowed every other market. Dav the previous day ed down _sharply. minutés a sale the neithe aeco-It 7 one 1 tra api any ket ope at In of quotatiors. over 15 points on from its hi i ment nittec > had begun trading that the of thel an inves- ion of th in Davison in past week. Probe Causes Cautlon. thought that much induced by f: on would K other rapid It was of the that the it impo upturns ot interest. | the silica jel | or two large | a for its use | Magnolia itory to- r, Phillips ind Producers and Re- off slightly at the open- was 1 portant pre this zroup and pr Port of Cosden showing a P ot about $1,- ired with the same nd a larger decrease not cubecic Cysden shar Railrond Stocks Quict. of th l-carrying r - of the st Rea point t further < | the | ind. | much. | ing | news i in Famous difliculty in cove id General Motors | h strong on the expectations { Suc market States Steel com- tudebaker Dupont t A £0ft spot among spec i : rubber and tire shares con- tinued heavy. Wall Street Features. The st oncerned with the reduetion today by the Magnolla Pete Com: of its prices for crude ail in the midcontinent territory than it was with the possibility that thie other und dominant interests in that d t would follow Magnolia's Jead. This company announced. a fowering of 20 to 30 cen a barrel an_crude oil, effective September 1. Some per: expected that Prair il and Sincl. Purchasing Company, Wwhich do the bulk 6f the purchasing Lusiness in the midcontinent fleld, would anflounce reductions next Tues- @y, or at least in the near future. Mideontinent prices have apparently been negged” for some time, and have heen out of line with the pro-| fiortionately lower quotations in Ca ifornia and the cast, so that reduc- tions in the mit nent territory are fot at all surprising, —— LOFT FORCED TO QUIT, | WALL STREET REPORT NEW YORK York He b September 1.—The New | or $80, E prompted by action of the governing vommittee of the exchange, it became known yesterday Loft, who w other mem| “candy kid, candy sometimes referred to rs of the Xxechange as is a son of George W, nanufacturer and sports- He became a member of the ex- nge on July 1, 1920, and has figured arious incidents from time to time. Once he sold the suit of clothes he was wearing to another member on the floor. The sale was made for immediate de- livery and the buver compelled Loft to by the | Beth Steel. .. NEW - FINANCIAL. == 'THE EVENING 8 YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Allis Chalmers.. Am Agr Chem. . Am Ag Chm pt. AmCan.... Am Car & Fdy.. AmsCot Oll pf... Am Druggist. Am Bxpress. Am Ice.. } Am Internat'l Am La France. . Am Linseed. ... Am Locomotive Am Radiator. Am Smelting. Am Steel Fdy Am Suga Am Tel & Tsl Am Tobacco Am Tohac (B).. Am Water Wks. Am Woolen..... Am Woolen pt.. Anaconda. ..... Arnold Constab. Atchison....... Atlan Cst Line. . Atlantic Gulf... Austin Nichols.. Baldwin Loco. .. Balto & Ohlo. .., Barnesdall (B). Batopilas Min. . Beechnut Pack. BklynRap T fp. Burns Bros (B). - Butte & SupeT... Caddo Oil.. Calit Petrol Callahan Zinc. Calumet & Ariz. Capadian Pac Cent Leath pt Chandler Mot Chesap & Ohio. . Ches & O pf w 1. Chi & Alton pf.. Chi & East Ill ChiGrt West... ChiGreat W pf. ChiMil & St P Chi Mil &St P pt. Chi & Northwn. Chi Pneu Tool.. ChiRI& Pac... Chi R I&P 76 pt Chile Copper . Chino Copper.... Cluett Peabody. Coca-Cola. Colo Fuel. . Columbla Gas. . Columbla Grapk Columbn Carbon Com Solv (B)... Cons Gas of NY.. Cons Textlle Cont Can 2 Continental Mot Corn Products. . Cosden & Co Cosden pt. Crucible Steel Cuban-Am Sug. Cuba Cane Sug Cuban Dom pf. . Davidson Chem. Decre Copf..... D Lack & West. Dome Mines Dupont (E1). Eastman Kodak Endicott-John.. Erfe2dpt.. Famous Players Fifith Ave Bu Fisk Rubber. Fleishman. . Freeport Texas. Gen Am Tk Car. Gen Asphalt Gen Baking Gen Electric. Gen Elec spl. Gen Motors. Gen Motors pf. . Goldwin Corp Goodrich. Gt Northern p Greene-Canan. . Gult St Steel. Hayes Wheel Hendee Mfg Homestake. Houseb'd Prod. Housten Oil.. Illinols Central. Indiahoma. Inspiration. In Ag Chemical in Combust B Int Harvester Int M Marine pf. it Nickel. intl Paper Intertype Corp. Invincible Ol Iron Products. . Jones Tea. . Kansas City S.. Kayser (Julius) Keily-Spr Tir Kennecott Keystone Tir: Loews Inc. LoftInc. Loose-Wiles. Mack Trucks..., Mellinson & Co.. Manhat E} Sup.. Manhat Shirt. Maracaibo Oil... Marland Oil. Maxwell (A). Maxwell (B)... Met Edison pf Middle St Oil. Mo Pacific. Mo Pacific pf. Montg'y Ward.. Moon Motos Mother Lode Mullins Rody. .. Nat Biscuit. Natl Enamel. Natl Lead. ... Nat R of Mx Ist. Natl Ry of M 2d. N Or Tex & Mex. N Y Canrners N Y Central: NY Chi & StL. NYC&StL pt(n). NYNH&Harttd. Norfolk South. . Norf-& Western North Ame: North Pactfic. .. Owens Bottle. .. Pac Gas & Elec. Packard Motor. Pan-Am Pete:.. Pan-Am P (B).. Parrish & Bing. Penn Coal & Cke Penneylvanta. People’s Gi Pere Marqu Philadelphia Co divest himself of the garments at once. He was compelled to ride in the elevator 10 the members’ club on the seventh floor of the exchange bailding until an- other suit was procured for- him. Why pressure was brought to bear on 1iim 10 Tesign from the exchange was not revealed. There were all sorts of rumors, including his reported proelivi- es for plunging on the one hand and . participation in’ the recent Piggly Wig- &y pool on the other. — RAILROAD OUTLOOK. Experts Announce Which Roads Strike Would Benefit. NEW YORK, September 1.—Stu- dents of the stock market who make, it a. practice to ascertain which stocks will be most affected by pend- ing _news developments yesterday suve their attention to the rallroad stocks. Their deductions resulted in thie_theory that Erie, Delaware and Hudson and Lehigh Valley, as repre- sentative of the hard coal roads, would be most affected in the event of cessation of hard coal mining, while «‘hesapeake and Ohio, Western Mar: Jand, Norfolk and Western and Pitts- hurgh and West Virginia. as .repres Phillips Pete..., Plerce-Ar pf. PlerceOll.....u Pressed Stl Car Produc & Ret. Prod-& Ref pt Pub Service. Pullman Co. Punta Alegre... Pure Ofl. Rapld Tran Sec. Ray Con Copper Readin; Reading 1st pf.. Reading 2d pf.., Remington..... Rep Ir & Steel.. Rep Ir & St pf.. Reynolds Spr. Rey Tobac (B).. Royal Dutch. St L South pf. Savage Arms... Sears Roebuck. Seneca Copper.. Shell Tr & Tran. Shell Union. Simmons Sinclair Oll. South Pacific... Southern Rwy.. 32% Southern Ry pf., 68% Ofl.of Calif.... -51. % 18 51% 18% 18% 10% 5% 52 52 34% 4T% 92% 21 €7 45% 57 B1% 82 7% 81% 17% 26 -21 High. Low. Closs. 43% 16 41% 98% 166 28% 4% o5 96 19% 11% 22% 73% 83 60%% 861 661 124% 148% 144% 40% 6% 102% 40 184 97% 13 16 27 124% 46% 118% Sl sentatives -of-- the—woft -eoat “roads, I-StandOM-otNJ.- 33 - 38 - would Lenefit, 43% 13% *40% 97% 166 28 4% 4% 96 19%% 11% 22 3% 83 59% 364 664 124% 146% 144% 40 854 102% 39% 131s 974 1ns 15% 26% 123% 49 8% % 5h 53 32 24% 16 20% 5 48% 142% 51% 52% 63% 98% b 25 4% 1% 1% 305 67% 81% 23% 9% 26% 13% 40% 43% | St Oll of N J pt:, ?l’i!t 11 1 9 o, High. . Low. Close. 154 118% 0% 70 0% 105% 108 8% 9% 2% 2% 1% 1% 1 423 42% 68 584 18% 18% 1n 1 88% 38y 544 5% 83% 83% 4% 4% 39% 394 18323 1827 38% 38w % % 204 20y 17% 17% B2% 63% 42 a2 92% 92% 59% 60 18 18% 321 321 11% 11% 38% 33% Stewart-Warne: 90% 90% Strombg Cardb.. /70 704 Studebaker..... 1064 106% Submarine Bt... 9% 9% Superlor Ol 2% 2% SweetsCoofA.. 14 1% Texas Company 421 42! Tex Gulf Sulph.. 58k 5!& Texas & Pacific. 18% 18% Third Avenue 14 11% Timken 88% 384 ‘Tobacco « B4% Ba%e Tobacco Prod A. 88% 833 TransCont Oll.. 4% 4% Underw'd(new). 394 89% Union Pacific... 133 . 133 Utd Ry Invpf... 39% 39% ‘ly’(ggenns"n. 756 ast I Pipe.. 291 29 US Hoftman M.. 17% |7a USIndusAlco.. 53% 634 U S Rubber. 42% 42 U S St wee 92% 9274 Utah Copper.... B9% 60% Utah Securities. 18 18% Vanadium Corp. 32% 82 v.-‘curchm).‘ 12% 12’: Va-C Chem pt, 33% ' 38% Wabash........ 9 9 Wabash pf (A). 27% 28 Wells-FrExp.., 37 37 Western Md. 10% 104 West Pacific.... 17% 17% Westhse EI&M. 69 59 Wheeling&LE. 7% 7% Wickwire. ™% % Willys-Overld.. 714 75, Willys-Overl pf. 70% 70% 691 Woolworth. .... 245% 245k 245% HOURLY SALES OF STOCKS. 1lam.....117800 12m...... 239 300 WEEK SEES STOCK PRICES GO HIGHER Pools Active—Public Does More Buying—Situation Abroad Causes Worry. 9 2% 37 10 17% 58% ke T T 28 By the Associated Press. NEW YORK, September 1.—stock prices continued their ris¢ to higher ground in this week's markets, de- spite intermittent bear selling and profit taking. Pools were again ac- tive, and commission houses reported an increasing public interest. In many quarters, however, the threat- ened suspension of anthracite mining, the unfavorable economic develop- ments in Germany and the serious differences between Greece and Ttaly wevre regarded as restraining influ- ences on trading. g Oné of the most Important construe- tive developments during the week was the formal announcement of re- sumption of diplomatic relations with Mexico. It was immediately followed by brisk advance in Mexican gov- ernment securities and in stocks and bonds of companies having large | praperty interests in Mexico. Revival of speculative interest in the railroad shares was generally attributed to the reports of record August car loadings and the July earnings reports. Chemical stocks strengthened on publication of the annuai report of Y:hl- American Agricultural Chemical Company showing net profit of $30 481, as against a deficit of $1,124,071 in the previous fiscal year. Sugar shares were firmer on an- nouncements of higher commodity prices and reports of an early re- sumption of dividends by two of the | ! Cuban companies. Copper shares were depressed. following the drop in the pricé of the red metal to 13% cents, the lowest price this year. The feature of the forelgn exchange market was the establishment of an- | other new low price for the year by ! sterling and the further collapse of | German marks to 8 cents a million. WOULD AVOID PAYING ~ FOR PIGGLY STOCK Chicago Man Charges Fraud in Suit Filed Against Bank in Chattancoga. ] By the Associated Press. i A PHIS, Tenn.. September 1.--; Charging he had purchased Piggly | Wiggly stock on “fraudulent repre- ! sentation,” Frank ‘- H. Stanwood of | Chicago has filed suit in chancery | court here asking that the Hamilton National Bank of Chattanooga be en- joined from instituting sult for pay- ment of three notes of $7,000 each, given in_payment of 700 shares of Piggly Wiggly stock last spring, and that he be relleved from obligation to pay for the stock. —_— WOOL TRADING DEAD. Dealers, However, See Little Cause for Worry at Present. Special Dispatch to The Star. BOSTON, September 1—With re- ceipts of domestioc wool hers so far during 1923 at only 105,030,600 pounds, compared with 155,346,055 for the same time in 1922, it is easy to gee that 'the statistical situation is not one to cause any worry to dealers. The weak lots, it is feit, have been well eliminated In recent weeks, The trade now {e disposed to wait until) manufacturers reall; to buy wool, as otherwise good prices are not possible. All elements in the eituation would Jike to see a real basls established, something which | has not existed for a week. Natural- 1y, this cannot be realized without a fair buying movement, and nolhing‘ of this nature was evidenced on Sum- mer street today, v UNITED DRUG’S PROFITS. NEW YORK, September 1.—The United Drug Company for the six months ended June 20 earned net profits of $2,512,780, after depreci- ation and reserve for doubtful ac- counts. After preferred _dividends and interest charges there was a surplus of $1,285,687, uivalent to $3.62 a share on the $35,459.000 com- mon stock. In the first half of 1922 the company earned the equivalent of $1.18 a share on $34,525,600 com- "mon stock outstanding. y want or need FOREIGN EXCHANGE. September 1, 1928—11 a.m. (Quotations furnished by W. B. Hibbs & Co.) Nominal ~Sell. check: = 5 wold value. ioday. London. poun 8565 X Monsrear: dollar Paris, tranc . Brussels, franc . Berlin, magk Rome.' lira ... Zurich, franc Athens, drachma Madrid, peseta Fhenoa, crown u crown Pragve. Warsaw, crown Eiat crown Stockholm, crown . By the Assoclated Press. NEW YORK, September 1.—Forelgn exchanges irregul Quotations (in United States dol! Great Britain, demand, 4.54%; cables, 4.543%; 60-day bills on banks, 4.51%. France, mand, .0664; cables, .05643%. Italy, demand, .0423%; cabl .0423%. Bel- glum, demand, .0461%: cables, .0462, Germany, denfand, .00000009; .00000010. Holland, demand, .393! bles, .3932. Norway, demand, .1642; Sweden, demand, .2669%; Denmark, demand, .1841; Switzerland, demand, .1805; Spain, demand, :1347; Greece, demand, .0175; Poland, demand, 0000043 ; - Czechoslovakia, demand, S296; Jugoslavia, demand. '0107; Aus: tria, demand, .000014%: Rumania, de- mand, .0045%: Argentins, demand, Jgg:;-aumumm 09557 Montreal, A ! though below their best prices. TAR, WASHINGTON, BONDS SELL OFF IN SHORT SESSION Trading on Too Small Scale to Have Any Great Significance. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 1.-—Bond prices were slightly reactionary dur- ing today's short session, but trad- ing s on too small a scale to be of any great significance, As might have been expected it w the for- elgn issues which showed the most weakness and particularly the Jugo- slav 8s. The troubles between Italy |\ and Greece are of immediate im- portance to Jugoslavia. These bonds, however, are always subject to more speculative buying and selling than other forelgn loans. Thero was also some recession in ofl bonds, but nothing serious. o The week a8 a whole has been one in which trading was very dull. This is the rule at the end of the summer and especially just prior-to the last important holiday of the season. Week's Prices Uneven. Prices have ‘flucthated very un- evenly. Among the high-grade gilt- edge investment issues there has been much irregularity. Whatever buying goes on in this group seems to cen- ter on two or three particular issues until the price has made a substantial advance, and then to shift to some other of equal grade. It is a little difictlt to trace the source of the buying in these bonds. Probably some of it has been for foreign account. The greatest aotivity has been in the speculative department, and here the fertilizer bonds have divided at- tentton with the rails. Both the American Agricultural Chemical and the Virginia-Carolina Chemical issues are up substantially on the week. al- This, of course, reflects the belief that con- ditions in this industry has taken a permanent turn for the beser. Eries Feature of Ralln. As to the rails the advance in the | Erie obligations, which was the fea- twre of the market last week, has not Dbeen maintained. Speculative favor has been shifted to the St. Paul bonds, which have made a marked recovery from, their recent lows. The threat- ened ‘strike in the anthracite coal re- gions has not been a market factor 80 far. More important than any fluctua- tions in prices is the outlook for the placing of large amount of new is- sues shortly 1o be offered. This in- cludes the mew Argentine $60.000.- 604 loan among the foreign bonds and tho $20,000,000 of Union Pacific refunding 55 among the high-grade rails. There is also in prospect financing for the Southwestern Bell Telephone Company to the amount of $50.000.000, for which, however, no date has been set. Liberal New Offerings. Investment kers are reasonably confident of a favorable reception for the new offerings. The demand just now 1s best for the high grade and next for the more epeculative de- scriptions. The class of bonds com- paratively neglected is the middle grade. The present week has seen a re- spectable amount of new financing, offerings totaling $55.671,800. This amount, however, includes $24,000.- 000 of Associated Ol 6 per cent note The other Jarge plece was $10,000, 000 in Milwaukee Electric Raflwa und Light 6s. WHEAT PILING UP: PRICES DROP OFF Shipment From Black Sea Ports Causes Stir—High Hog Prices Help Steady Grain. By the Associated Press. CHICAGO, September 1.—Continued | accumulations in the visible supply, which passed the 50,000,000-bushel | mark, was the chief depressing influ- ence in the wheat market during the week. The world's supply, as given by Bradstreet's, is 112,397,000 bushel: or 5,200,000 more than for the corre- sponding week last year. Export de- mand has been light and the move- ment from the country fair. Compared with & week ago, wheat was off %al to 2%; corn 1% higherto %a% lower; oats were down 1% to 1% and pro- visions 40 to 65 higher. Heavy selling of wheat, especially by houses with eastern connections, sent the market down grade, the Sep- tember delivery going below the dol- lar mark for the first time this sea- son. Profit-taking orders, howewver, resulted in a partial recovery from the low point. Large deliveries on September contracts are expected to- day. The Greco-Itallan situation and the late stremgth in values, which touched the highest point of the season, were stimulating factors, but these were offset partly by re- ports of a large shipment of wheat from Black sea ports and crop ad- vices from Canada, which maintained previous estimates of probable yields. The tight situation in the cash mar- ket was chiefly responsible for the firmness in corn, especially in Sep- tember which advanced more than 1 cent, while deferred futures showed fractionzl losses. The visible supply registered a further decrease, and Chicago stocks wers reported down to 450,000 bushels, the lowest at this time in years. Excepting on'the firm spots, oats received little support, prices going down grade, with December off most. Strength In hogs and buying of September lard by brokers, presum- ably due to a better foreign outlook, gave firmness to provisions. e OHICAGO LIVE STOCK MARKET. CHICAGO, BSeptember 1 (United States Department of Agriculture).— Hogs—Receipts 5,000° head: mostly to 10 cents higher; desirable kinds show most advance, bulk, good and choice, 160 to 230 pound averages, 9.4089.65; top, 9.70; desirable 240 to 300 pound butchers, 8.90a9.35; packing sows largely, 17.50a7.75; few strong- weight pigs around 9.00. i Cattle—Receipts, 1,000 head, “com- pared with & week ago, beef steers and yearlings of value to sell at 11.50 and above; steady; others 25 to 40 cents lower, western sers 10 to 15 cents lower; grain-fed she stock, canners and cutters, steady; in be- tween grades, fat, she atock, 25 cents lower; spots, more; bulls, 50 cents lower: vealers, 1.76 to 2.00 lower; ex- treme top matured steers, 13.10; best yearlings, 12:50; bulk prices foll bulk native steers and yearlings, 9.25 11.40; western 2 butcher cows and b canners and cutters, 2.75a3.25; vealers, 11.50212.50; stockers and feeders, 5.50a 7.35. Sheep—Recelpts, 1,000 head; today’s receipts mostly direct, for the week directjaround 9,000, ‘western run 245 doubles, compared week ago; killing classes mostly 50 cents lower; spots ‘more on aged stock; feedin 50 to 76 cents lower; closing_to] n_fat lambs, top, 13.50; week's bull Pr‘o- fol- low: Western fat lambs, 13.00a1350; ndtive, 12.50a13.00; yearlings, 10.50a 11.50; weathers, 7.7589,25: ewes, 5.76a feeding lambs, 13.25a13.60. lambs, | P! Recelved by Private Wire (Sales are in $1,000.) UNITED STATES BONDS. (Fractions represent ‘thlr! -seconds. ple: 101-1 means 1011-32.) Sales. High. Low. Olose. Lib3ys 3100 . 100 100 98-11 . 182 98-10 8.8 98-10 50 98-28 98-25 98-26 98-8 98-8 51 98-11 31 99-26 99-24 99-26 US4x%s1952. Close. 101% 88% 99% 96% 29% 88 6% 81% 95 101 100% 98% 103% 103% 109 89% 99% 93% 9545 91% 28% 95% 98 94 90 96% TT% T6% 64% 34 97 109% 95% 91t 70% k3 106 100% 92 a1 97 984 831% 64% 80 7% ui% . Low. 101% 88% 99% 6% 99% 88 76% Bl% 95 100% 100% 9874 103% 108% 109 89% 99% 934 5% 1% 96% 5% 7% 93% 920 964% 1% T6% bd% 34 96% 109% 95% 91% Copenhagen 68 Cubabhswi. Czechoslovak! - Tsnmark 6s Dutch EI16 Dutch East I 65'47. Dutch East I 6s'62. French Govt 8 French Govt 7% Hait! 68 ctf: Ttaly 6%s 192 Jergen U M 63 ‘4 Marseilles 63 Mexico 5s Mexico 48, Netherlands 65 Norway 8s.. Norway's . Orient Dev deb 6 Paris-Ly's-Med 65 Prague 7%s.... - 9 76/ 54% 34% 97 110 5% 91% 0% 69% % % 106% 106% 100% 100% 92 o1 97 99 8314 66t 80 80 75 5 oosrneadBansalienta ERavsaoman Queensland 7s 2 Queensland 63 Rio de Jan 8s 1946 Rio de Jan 88 1947, Rio Gr Do Sul 8s Sao Paulo.State, Selne, Dept of, 7s. . Serbs Crotes Slo 8s 36 Sossons 6s 2 Tokio 5s. e Ud Kingm 5%8°29. 13 111% 111% Ud Kingm 5%s'37. 8 102 1017 MISCELLANEOUS. Am AgrChem 7%s 3 994 Am Chainsf68'33. 4 92% 1 92 a1 96 98 83% 6415 5 2 3 7 2 6 $94¢ 9274 0% 91k 101% 101% 98% 924 100% 974 83% 98 974 0% 97 87 9% 87 8614 92% 104 106% 103% 99% 92% 102% 9915 103 1164 987y 93% 100 Th 84% 974 103 86% 25 Ti% 97 109% 99% 104% 105% 4% 1% 10774 9315 90% 914 101 82 108 95% 8875 Am Cotton Oil bs. . 70% Am Smit&R 1st &8, 91 Am Sml’&R 6s. ... 101% Am Sugar Ref 6s.. 24 102 AmMT& T L6 98% AmT& Tcltrds.. 924 A ondacvdb7s. 9 100% Anaconda 1st 6s... 37 97% Armour & Co 4%s. 3 83% Barnsdalls £ 8 98 Bell Tel Pa bs rcts 97% Beth Steel 5148 '53. 0% Bklyn Ed gen.5s. . 97 Central Leather 6s 97 Chile Copper 6s. 9% Commonwth P 6; 87 Con Coal Md 1st b 861 Cuba Canecv d 8s. 98 Det Edison ref s6. 104% Diamond Mth 105% Duquesne Light 103% E Cuba Sug 7% 100 Empire F&G 7% 93 Fisk Rubber 8s. 102% Goodrich 6%4s..... 99% Goodyear 881931. . 108% Goodyear 8s 1941.. 116% Hershey 65 1942, 99 Illinois Bell 1st 5s. 17 93% Indiana Steel §s... 11 100 Int Mer Maripe 6s. 7 Int Paper 1st s A. Liggett & Myrs bs. Marland Ol1 s '31. Midvale Steel 5s Montana Power o IO S D001 1 e bt e OVt By New Eng Tel bs. NY Ldsn 1st 63%s. NYG EL H&? b3 NY Tel 6841, N T Tel 6849, NY Tel 44s. Otis Steel T%s. PacificGas & El 8s. PasxT & T6a'52... 80 PhilaCorefésA.. Public Service bs. . Punta Alegre 7s. Sinclair Ofl 7s..... Sinclair Oil 6% w 1. £:a Crude Of! 61 Stn Crude O11 53¢ Sin Pipe Line 5 Tide ~7at Oil Toledo Edn 1st U 3 Rub 1st r U S Steels 5 Vertlentes Sugar pS Tllson & Co Ss. Wilzon&Cov 7%s. RATE CHANGES GRANTED. I. C. C. to Readjust Charges in Rio Grande Valley. A request of commercial interests for readjustment of freight rates in the Rio Grande valley in Texas was granted, in part, today by the Inter- state Commerce Commission. Revisions were ordered in the rates on citrus fruits, broom corn, fire brick, 1ime, cement and certain other com- medities, but the commission held that the present differentials on cot- ton and vegetables are reasonable. The maintenance of Texas “com- mon point” rates on vegetables and cotton from Laredo, however, was found to be unduly prejudicial to the advantage of Laredo against points in the Rio Grande valley, inasmuch as contemporaneously higher rates were found to_have been maintained from the Rio Grande valley points. SRR CHICAGO STOCK MARKET. CHICAGO, September 1.—Following is a report of today’s sales, high. low and closing quotations, at.the Chicago Stock Exchange: Bale: High. Low. 12 Armour of Del ptd. 881 88 40 Armour of Tl 18 ° 78 50 Commonw’h Edison 127% 150 Hupp_Motor . 2015 70 Mid West Uttlittes. 4815 60 Standard Gas com.. 2813 2120 Stewart Warner 91 415 Union Car & Carbn 37 30 Yellow Mtg B. 325 Yellow Tazi Total sales, 12,000 share: Pound Marches On. From the Scientific American. The advocates of the metric system, having failed 50 far to introduce the system into the English-speaking n tions, have turned their guns in an other direction and are trying to bring about a change in the value of the pound weight, in order to give it simpler relations with the metric sys- tem. This would be accomplished by assuming that a pound has a weight of 500 grams, instead of 464. If this could be accompiished without upset- ting civilization, the result would be of great value. But the 454-gram pound goes marching on. —_— Parking Space Needed. From the Kansas Olty Star. Fred was five years old, and his mother was making him some new summer suits, “I wish you'd make me some regular pants, that aren't hooked omto the shirt, and_ that have pockets and erything,” Fred complained. “But you're too little for that kind of pants yet” his mother protested. “And, anyway, you don’t need any pockets. What would you:do with ckets if you had them?” .. “Well,” he replied, “I think I'm just naturally getting b ough to have & place to park my ds.” Inhabitants of England can speak by telephone to France, Belglum, Hol- land and Switzerland, Southern Ry 8%is.. D. 0, SATURDAY, SEPTEMBER' 1, 1923. TON NEW_YORK BONDS STOCK EXCHANGE I Direct toFhe Star Office. ' 3 RAILROADS. Sales. High. Atchison gen 24 884 Atchison adj4s,... 7 80% AtlanticCL 1st4s. 8 87 B&Oprinsks b5 95% X 101 B&O . 83% Canadian North 7s. 1 113 Canad North 6% 1s Cinad Pac deb.4s 80 CentofGa6s...... 1 101 Central Pacific 4s 87 Ches & Ohloovbs.. 1 89% Ches & O cv 4% 86% Chi B&Q 18t rf 984 Ch! & E 11l gn b 78% Chi Great West 4 4% CM & Puget 5d 4s. 57 ChiM&SPre 44 53 Chi M&St P 48 '25.. i M&S Pley 414 “h{&ENW7Ts...... Chi Rys s : ChiRTI& Pgn 4s.. Chi RI& Pac rf 4s. ChiUn Sta 6%s. ... Chl & YV Ind cn 4 CCC&StLrfésA. Colo & Bou 4%s. C5aRRS6s.. Den & R10 G cn 4 Erie 18t con 4 Erle gen 4s. Erle conv 4s B. Erfeconv4sD..... Gr Trunk sf db 6s.. Gr North gen 7s Gr North gen 5 Hud & Man aj 5s. { Tl Central ref 45 111 Cent ref 5s '55 1l Central Gigs Iat Rap Tran bs. Int Rap Tr Ge stpd. Inter R Tran 6s Int Rap Tran 7s. Int & G Nor aJ 6s. . Int & G Nor 1st 6s. Towa Centrf 4s.... Kansas City § 3s. .. Kansas City S 5s. Kan City Term 4s. Lake Shore 45 '31. . MiIEIRy & L6s. .. M&StLlstrf 4s MK&TprinbsA. MK&T4sb...... MK & Tadjss.. {Montrl Tm 1st &s New Or Term 4s. .. N Y Centgen 31s. N Y Cent deb 6 NYCentribs N Y Cen LS cl 8%s. New Haven cd 6s.. Norfolk & W cn 4s. Norfolk & W cv 6s. Northn Pacr | 68 Northern Pacés D.. Ore-Y7ash 1st rf s Pennsyl-gen bs. Pennsyl gen 4 4. Pennsyl 6%s. Pere Marq st Gs. Low. 88% 80% 86% 95% 100% 83% 13 113 9% 101 87 89% 86% 98% 78 Py 80% 87 101 Rapld Tran 6s w1, Reading gen 4s Rio G West c! 4 RTArk & L43; Seab'd A L adj 5 Seab’d A L con 6a Sou Pacific cv 4s. Sou Pacific ref 48 Sou Pacific clt 4 s e N RS R O e T O Third Ave adj 5s. .. Unlon Pac 1st 4s. .. Union Pac 1st rf 4s Union Pacev 4s ‘Wabash 1st 5s. Western Md 4s. 1lam. 1299000 12 noo; ALEXANDRIA. ALEXANDRIA, Va., September 1 (Spectal).——Hundreds of persons left today by train, boat and motor to spend Labor day at the shore and mountains, and many will spend the three days at nearby country resorts, Hundreds are making the trip over Labor day by motor. Labor day here will be marked by a general suspen- sion of business. Banks, city and government offices will be closed all also will be cosed all day ¥ post office will be closed ll y. and there will be two coliect e in the forenoon and one in afternoon. Pay City Taxes. Many taxpayers this morning called at the office of City Tax Collector P. F. Gorman and paid their city taxes. Today was the opening day for the payment of the city taxes. During the coming week it is expected there will be a general rush, especially among those desiring to pay in order to get the necessary receipts for pres- entation in order to obtain permits for thelr children to attend the pub- lic schools. Beginning October 1, a penalty of & per cent will be added to_the bills of all delinquents. Effective today, half license fee is now operative on automobliles, and, as a result, hundreds of persons, pecially those from out of the city are now obtaining the Virginia lcense. The police department today {was_kept busy lssuing 1923 licenses to those who had not heretofore had these 1icenses. James B. Deane has sold to Court- land H. Davis, trustee for Nellie V. a house and lot an the west side of Royal street. A deed of con- v was placed on record in ‘the office of the clerk of the court. Many at Band Concert. Monday the attended the band concert by the Fort fyer Band at the corner of Washing- ton and Prince streets. The concert was given for the public through the {efforts of the chamber of commerce. The festival and home-coming cele- bration last nignt on the lawn of Trinity M. E. Church was well patron- ized. b William P. McKnight has been ap- pointed a mémber of the Confederate pension board for this city by Judge Howard W. Smith in the corporation court. The appointment was made to flll the, vacnacy caused by the death of Capt. Fountain Beattle. members of the board are Edgar War- fleld, sr., and John M. Johnson. JONSON ON MISSPENT LIVES. i B U, Many Modern Writers Would Like to Phrase the Thought So Happily. L. Woolf, in the Nation and the Antheneum (London. ) “What a deal of cold business doth a man misspend the better part of life in! in scattering compliments, tendering visits, gathering and vent- ing news, following feasts and plays, making & little winter love in 8 dark carner.” This- senterice from Ben Jonson's “Discoveries” contains a general re. flection which every man who has reached the age of thirty and ‘has 1ived in civilized society at any time during the last 500 vears has fres quently made to himself. But the precise and personal shade which Jonson gives It by the last nine words of his sentence belong to himself_and to his time; the color with which they paint a commonplace is not that of Milton or Dryden of Congreve or Swift, Pope or Johnson, Wadsworth or Shelley, Tennyson or Browning, but it is ¥ery near the shade of feeling which many a writer today attempts, much less success- fully, to translate into sentences, CLEARING HOUSE REPORT. 4 NEW, YORK, Spptember '1.—The actual’ condition’ of clearing house ‘banks and trust companles for the week -“w- an- excess-in reserve of lu,;lls #13/ day and practically all of the stores| ns, | | easier. Other { l Grain, Produce and | i | 1 More than 1,000 persons last night!corn i { This is a decrease of|1922. - FINANCIA | | Live Stqck LOCAL WHOLESALE MARKET. The market took on a decidedly fall appearance early this morning. Sup- plies of practically all commodities were large enough to enable dealers to make attractive displays, but re- ports failed to show decreased prices. Frults and vegetables were especial- Iy plentiful. Peaches proved the leader in the fruit market and prices were reported at what dealers sald were reasonable. Watermelons and .cantaloupes are still fafrly plentiful, but the canta- loupes have lost much of their sweet- ness. Egg prices are soaring, and re- tallers were asking as much as 45 cents u dozen for them. There wus a scant stock of oysters in the establishments of local dealers this morning, the opening day of the oyster season, the first fall month in which the-letter “R" appears. Dealers reported having an unfavorable fore- cast from the oyster regions, it be- ing stated that the oysters promised to be scarce and not in the best con- aition. Small shipments of oysters were recelved from Hampton and Lower Machodoe, Va.. and points in Mary. land. They were in fairly good condi- tion and found slow sale at $1.50 a bushel. Dealers will not attempt to handle large quantities of the bi- valves until cool weather creates a demand. Eggs — Strictly _fresh, selected, candled, per dozen, 34al5; average re- celpts, 32; couthern, 30. Livé poultry—Roosters, per lb., 17; turkeys, per b, 25; spring chickens, per 1b., 20a32; keats, young, each, 40a50; fowls, per 1., 26. Dressed poultry — Fresh killed spring chickens, per Ib., 32a38; win- ter chickens, per lb., 30a35; hens, per Ib.. 30; roosters, per Ib. 18; tur- keys, per Ib, 37a40; keats, young, each. 6. Live stock—Calves, choice, per 1b., 1 medium, per 1b., 10all; thin, per 1b, 6a7. 'Lambs, spring, per Ib. 13a14; live pigs, 3.00a5.00 each; live hogs, per 1b., 9%&. Green fruits—Apples, new, per bas- ket, 50al.75. lifornia__oranges, per crate, Florida, -3.00a6.00. Lemons, 7.00a8.00. Grape- per crate, .00 -bushel basket, 1.00a1.50. Can- nearby, per crate, 50a2.50. Concord, 1.50a2.00: Delaware, 5 : Niagara, 1.50a2.00. Vegetables—New potatoes, No. 1, 5.00a6.00; No. 2, 2.50: New Jersey potatoes, bag. New sweet potatoes,4.00a5.50 per bbl. New York lettuce, per crate, 1.00a2.00, Romaine lettuce, per crate, 1.00a2.00. Cabbage, crate, 2.50a3.00; nearby, 1.00a 2.00 per bbl. Eggplant, per crate, 1.50a2.00. Tomatoes, 15 bu. basket, near- by, 25a60. Beans, 1.50a3.00 per bbl Peas, 2.50a3.50 per basket, New York celery, per crate, 4.50a5. Squash, 26a 50. " 'Peppers, per crate, nearby, 50a75. Kale, per bbl., 1.50a2.00. Spin- ach, per crate, 75a1.50. Home-grown lima beans, per quart, 20a30. New York cucumbers, per bushel, 3.00a4.00; home- grown cuciimbers, per’ bushel, Sugar vorn, per dozen, 15a3f o AIN AND PROVISIO BALTIMORE, Md., September 1 (Spe- a Potatoes, new, bar per 100 pounds, 1.2 40, Sweets bushel, Cabbage, 100, 100, 4.00a.5.00. . Corn, dozen, Cucumbers, basket, 50a75. Eggplants, basket, 25a35. Squash, basket, 10a35. Lettuce, crate, 50a1.25. 100 pounds, 2.2588.30. To- matoes, basket, 25a45; packing stock, bushel, 63a Applés, barrel, 1.50a3.00; bushel, 1.00a1.25; basket, 15a30. - Blackberries, quart. 1%a18. Cantaloupes, crate, sket, 30a1.10. Damsons, pound. uckleberries, quart, 15a20. ches, bushel, 1.00a2.50; basket, 50a1.00. Tums, et. 25a75. Wa- termelons, each, Pears, basket, 10. 75a1.00. Seling Prices on Grain. Wheat—No. 2 red winter. 'spot, 1.10; 2 red winter, garlicky, ' spot, No. 3 red winter, garlick 2: No. 4 red winter, garlick L 931 - ales—Bag lots of nearby sold at range of 95 to 95 per bushel. Cargoes on grade. No. 2 red winter, garlicky, 983 ; No. 4, 943%; No. 5, 3. orn—Cob, new, 5.00 per barrel: No, 2 corn, spot. no quotations; track corn, vello . 2 or better, 1.05. No. sales. Oats—No, white, 48%. Rye—N per bushel 3 % per Hay—Receipts. tons more liberal receipts the days the market for new rules | a range of 2. Under | few | 2 25.00 All heated or damaged hay, as to be sold at a discount. Straw—No. 1 tangled ‘rye. 15.00a 16.00 1 wheat, 12.00212.50; No. 1 oat, 13.00a14.00. = TODAY'S CHICAGO PRICES. CHICAGO, September 1.—Higher cables and an improved export busi- ness were chief factors In uplifting wheat values here today during the ecarly dealings. The Liverpool mar- kets were largely influenced by the warlike news, especlally that per- taining_to the Greco-Italian situa- tion. Chicago was reported to have sold 215,000, bushels hard winter wheat for export, via Montreal, and to have chartered boats for an addi- tional 400,000 bushels. Deliveries on September contracts this morning were about as expected, 4,478,000 bushels. Receipts were light, being estimated at 270 cars. Commission houses were the best buyers at the start. Opening prices, Which varied from % to % higher, with December, 105% to 105%, and May, 111% to 111%. were followed by additional gains all around. Corn and oats symvathized with wheat. _After opening % to % higher, with December, 68% to 68, the market handened a trifile and then became easy. ‘ Oats started unchanged to %a¥% up, with Deoember, 39%. and later ad- vanced a little more on all deliveries. Provisions reflected the strength in grains and hog values. WHEAT— Open, High September ... 1. December .1 1073 SEs T 1135 at per ton. however, Close. 1058 1.12% | sax | K5 September December MARKETS. ptember 1 poultry —Spring 22a25; DAIRY BALTIMORE, chickens, old hens, 7 rns, 20a22; old roosters, 15;_ ducks, 17a23; pigeons, pair, 20a25; Guinea fowl, 40260. Eggs—Lose off native and nearby firsts, dozen, 31; southern, 30. Butter—Creamery, good to fancy, 42a46%; prints, 46a48; nearby, 35a40; ladles, = 34a35; _rolls, 31a33; store packed, 31; dafry prints, 31a33; process butter, 38. , —_— KEROSENE PRICES UP. OIL CITY, Pa, September 1.— orthwestern Pennsylvania refiieries have advanced 45 degree kerosene 15-cent a gallon to 6 cents for re- finery. —— . PEERLESS CUTS PRICES. NEW YORK, September 1.—The Peerless motor car announceg price revisions effective September 1. Four- passenger touring reduced from $3,000 to $2,690. MAIL HOUSE SALES. Y against $5,552,960 in August J months, $80,354361, against $52,463,540, . NEW BOND ISSUE ASKEDBYW.R & E. Application Filed With Public Utilities Board—Reserve Bank’s August Report. Application for a new bond fesue amounting to $2,496,557.81 has been made to the Public Utilities Commis- slon by the Washington Raflway and Electric Company. Of the total sum, $1,000,000 will be used to retire former bonds which ex pire in December. The balance wil! be sold to reimburse the company for expenditures made during the pas: few years in impgoving s tracks and other equipment, The new bonds will bear 6 per oent interest and run for ten years fro November, 1923. The fssue will be ten-millon-doliar mortgage, of which the amount stated above will be placed on #ale at this time. Federal Reserve Report. While there are a few signs of weakness in the business structure. the signs of strength are much more Tumerous and ‘the usual scasonal dullness in business during August was less marked this year thar during any year since the post-war inflation period, the Federal Reserve Bank of Richmond states in its monthly review of business and agr cultural conditions in the fifth fed- eral reserve district. Among the unfavorable operating against business present time, the bank said. decline in forward orders placed by retailers and wholes Unoertainty of the probable o turn of the ocotton crop and the shortage of labor in ocertain agricul- tural seotions, it was said, were other deterrent factors to normal business. The danger of the Auguft migration of the boll weevil minimized the im- portance attached to crop condition reports earlier in the month, accord ing to the bank's eurve Favorable Factors. Offsetting these unfavorable co: tions, the bank called attention fo the large buying power of the ulti- mate consumer and the disposition to supply immediate needs. The willingness of the publio to buy whatever it wants justifies confl dence for the near future, the re- view stated, adding that the “great purchasing power of the ultimate congumer” was the “most strikipg feature of tha present situation.” “Labor i8 fully employed at wagge that are little below the high lev of the war and post-war periods. andl the workers are using their earnings much more wisely now than_then.’ the review gaid. “The volume of build ing operations for which permits ar« being issued appears to insure a con- tinuation of full employment for sev- eral months at least.™ Discussing _the agricultural tion the bank declared “the outloo for the farmers of the fifth distrigf | compares favorably with prospec in sny other section. Cotton Outlook Bright. “Corn prospects are promising. larger yields being indlcated by pres- ent conditions than last year,” the review states. “The outlook for cot- ton in Virginia and North Carolina {s far above the national average, with prospects in South Carolina for a bet- ter yield than last year. Tobaoco in South Carolina is being marketed at good prices, and the crop is better in both quality and quantity than last year. Tth Carolina prospects are good for a full crop of fair qual- ity, and Virginia’s crop hus made excellent progrese in reeent weeks. The fruit prospects are the best for the past three vears in quantity, and the quality of the apple crop in Vir- ginfa is unusually good, Grain pro- duced satisfactory ylelds this vear. and _truck crops are, on the wholc good.” Bank to Secure Medallions. The Commercial National Bank of this city has made arrangements fo secure for customers, at cost, the Warren G. Harding medallion now being. cotned at the Philadelphia mint. Orders are coming in rapidly, it was said. Under their plan, the medallion itself costs $1.17, and with case, §1 Personal Mention. \ Wiliam J. Flather, vice president of the Riggs National Bank. has re- turned from his annual vacation Bradstreet’s Business Review. Bradstreet's weekly review of bus factors at the is the being situa- “There are more cross currents visible in trade, crops and industry and business operutions generally have reflected the desire to make the most of the last week of the vacation season, but the more cheerful tone recently noted continues apparently unabated. “On the favorable side of the pic- ture are moderate gains in fall buying at some western markets and at southern points where cotton and to- bacco marketing has begun at good prices: continued strength of com- modity prices (the Weekly Food Index is again higher and Bradstreet's Sep- tember 1 index number promises to show a gain over that of August 1) more buying of steel and added strength in pig iron and scrap ma- terial prices: a better tone in cotton goods, accompanied by predictions of increased operations at mills after Labor day and maintenance of the strength shown in the stock market.’ NOW THE TOURIST TRAMP. Impecunious Gasoline Beggars a Growing Problem of Cities. C. M. Harger fa the Ontlook. Along with the legitimate motorist has arrived the tourist tramp. Provi- dent_associations. in_the larger cities frankly confess their inability to deal with him. “It seems said the secretary of one welfare assoctation, “that men sel everything they have and buy & second- hand car, load in the family and start out, wandering over the country, de- pending on the charity of the people in the towns—with occasionally work- ing on the sympathies of some farm- r's wife. : ©TiWe have many supplications for aid to buy gasoline to get to the next town —and this after the parties have over- Stayed their welcome in the tourist We contributed to get xfd of t the number is increasing. o U en® will not work and the familles ure dragged on an_endless Journey that s=tends from the Canadian border in summer to the gulf in win- ter—always, like the Wandering Jew. pushing on without hope of perma- , ce. > oS tie such tamily stayed three weeks in a country town camp ground this summer. It was near a picnic ground, and the children looked o wistfully at the picnic suppers that they went back to the allapidated flivver loaded with the remains of the meal. Fipally, after several warnings, the police escorted the car to the gate and sent it rattling: on its way. ' Another car fitted up with a repair kit stayed so long in camp, while its owner made money fixing up cars out of condition, that the garage owners of fown protested—and he moved on to the next camp.” Why do. families with mone of this world’s goods except what their rickety car contains load up in Ohlo and go wandering off to Dakota or Texas, later to show up in California or Montana” The scene of their wanderlust is not in the east, where the free camp has not become common and where cities do not look with fayor on their presence. They seek the “wide open space whete friendliness-along the way will not forsake them, and seem to know that they will be able to live and travel in_some manner. 3 But the towns are becoming weary of the visitation, and are wondert how to prevent ahe growing numbe; of motor tramps who have become zeal problem.