Evening Star Newspaper, September 22, 1923, Page 14

14 FRICES GO HIGHER IN STOCK MARKET Short Covering Over Week End Checks Friday’s Sharp Decline. in Values. I+ the Associated Pr NEW YORK, September 22.—Stock made recovery from recent caviness in today's brief and quiet ssion. Food, rubber, steel, equip- ent and oil shares were lifted to gher ground, several of the leaders sining a point or more. Subsidence of recerit selling pres- sure and the failure’ of bear operators uncover any acutely weak spots Lrought about a fair volume of short covering over the week end. Rails were bought on speculative expectations of favorable August earn- ings statements, the eastern carriers cing most in demand. The closing was firm. p.oximated 300,000 shares. RAILS AND SUGARS LEAD. Sales ap- Daltimore and Ohio One of To- day's Market Features. BY STUART P. WEST. al Dispatch to The Star NEW, YORK, September Taltimore and Ohio among the rails nd Punta Alegre among the sugars leaders of today's markets. e buying of Baltimore and Ohio s been very persistent and the cet believes that there has been a 1l accumulation of the stock in an- t cipation of a dividend before the eid of the vear. Punta Alegre, with a larger un- d_supply of sugar than any Cuban ducers. will be the chief benefi- ry of the present situation in the r market. The stock is prac- cally certain to be .restored to a dividend basis carly in October. were the Other Sugar Stocks Strong. The Qistribution i r 34 $5 cuestion is whether the ue will be at the rate od opinion believes at it will be Other sugar stocks ware very strong. Cuban Cane Sugar eferred was selling 16 points higher nd Cuban Cane 9 points higher than eir low of the early summer. Railway shares were drawn along ioderately by the special strength in Baltimore and Ohio, but they were not noticeably active. Passing of the Coeden dividends failed to affect the ock, and this was taken as one iiore ‘proof of a sold-out condition in tie oil shares. Steel common ith the demand crest backing <ain. Baldwin was up over 2 close. only or got above S8, but from the short in- the stock fell back Locomotive, at 115, points from Friday's Market Closes Strong. The market closed strong and well up to the best pric Punta Alegre nd Cuban Cane preferred were ac- ely bought right up to the end. gns of incregsing nervousness on 1@ part of the short interest were apparent in the oil shares Tnasmuch as little attention has heen paid to the recovery in French francs while stocks were going down, there was no sense in connecting the strength of the day's stock market with the rise in the francs above the cent level. Cable advices from Berlin do not indicate that the latest tierman proposals will include the +bandonment of Ruhr resistance with- out reservations. Therefore the of- ficial attitude of confidence assumed «t Paris may be viewed with much skepticism. But even assuming a complete sur- render by many the question of very serious import for the future of French finances is whether the Ger- man industrial structure has not been brought so near a breakdown that collection of reparatiois on any large scale will have to be indefinitely post- poned. DUN’S NOTES CONTRASTS IN BUSINESS OUTLOOK By the Associated Press. NEW YORK, September 22 Review today Progress toward increased business 79 the fall season opens is decidedly uneven, sharp contrasts appearing in different quarters. There is naturally more activity now than prevailed in midsummer, but gains develop slowly in varlfous instances and irregularity of prices is a_conspicuous phase. With thirty-one advances and 35 declines, Dun’s list of wholesale quotations re- flects the erratic_course of the mar- kets. yet the tendency in certain im portant lines is more clearly in buy ers’ favor. and there is more com. petition for orders. While current - transactions are heavy in the aggregate new demands in some channels are restricted be- cause requirements were largely cov- ered ahead during the noteworthy commercial revival of earlier months this year. Deliveries on these con- tracts are meeting the immediate needs of consumers in many cases, and there is not the same incentive for active purchasing with depleted supplies of zoods replenished. 30,000 MEN VOTING ON WAGES FOR 1924 Bpecial Dispatch to The Star. CLEVELAND, September 22.—The building trades unions are taking a poll of their 000 members to ascertain their views on wage scales for next year., This will require about sixty days. *“If the members decide to stand pat on the present scales we want to an- nounce 'it.as soon as possible,” said Charles Smith, business agent of the Ruilding Trades Council. “That will allow those who propose to build next season ample time to make their plans.” GAIN IN EARNINGS. Western Maryland Reports Sep- tember Increase. BALTIMORE, September —Dun’s arnings for the week ended Septem- r 14 at $452,703.47, as compared with $435,560.50 for the same week in 1822, an increase of $17,142.97, or 4 per cent. Increases for ‘the week were shown in coal and coke load- ings and passenger and express traffic, For the two weeks to September 14, estimated earnings are reported <at $908,718.59, as against $871,121 for the same period last vear, an increase of $37,697.59, or 4 per cent. Total earnings for the current fiscal year to September 14 are reported at $16,653,380.51, or $4,635.987.37 more than the $12,017,393.14 for the corre- sponding perfod last vear. The per- centage of ingrease, 39 per cent, has heen lowered: during the summer onths, but a heavier movement of traffic is expected from now on through the fall. For the year thus far, increases are shown in coal and coke and other freight, as well as in passenger and express, while mail, milk and miscellaneous items have fallen off. . WOOL MARKET UNCHANGED. BOSTON, September 22 (Special).— The week in the local wool market ¢losed on an optimistic' note as the result of recent buying of fair volv ume. Generally speaking, prices were 30 higher than last week. FINANCIAL. NEW YORK STOCK EXCHANGE || THE EVENING STAR, WASHINGTON, D. C, SATURDAY, SEPTEMBER 22, 1923. Recelved by Private Wire Direct to The Star Office Afax Rubbe: Alaska Juneau., Allied Chiem . Allis Chalmers. Am Ag Chm pt. Am Can.. Am Car & Fd Am Chain (A)... Am Ch lqb\cna Am Cotton Oil., Am Druggi Am Internatl Am La Franc Am Locomotive Am Metals Am Safe R: Am Smeltin, Am Sugar Am Sumatra. Am T & Cable. Am Tel & Teleg. Am Tobaceo. Am Tobac (B Am Water Wk Am W W 7% pt. Am Woolen Anaconda “ Arnold Constab. Asso D Goods. Atchison Atlan Cst Lin Atlantic Gult Atlantic Ref. Auto Sales pf Baldwin Loco Balto & Ohlo. Barnesdall (A). Barnesdall (B). Batopilas Min. . Beechnut Pack. Beth Steel Brit Emp St Br Em Stl 2d pf. Buff Rch & Pitts Burns Bros (A). Butte-Copper. Butte & Super. Butterick. . Calif Petrol.. Calif Petrol pf. Callahan Zinc. Canadian Pac. Central Leath. Cent Leath pf Cerro da Pasco. Certain-Td 1st Chesap & Ohio. . Chi Grt Wert ChiGreat W pf. Chi & E Il pt Chi MIl & St P Chi Mil &St P p! Chi & Northwn. ChiRI& Pac... Chi R1&P6% pf. Chi R 1&P 7% pt Chile Copper. Coca-Cola. Colo Fuel. . Colo & South Columblia Gas.. Col Graph of. Com Solv (B) Comp Tabulat. . Cons Gas of NY. Continental Mot Cons Textile. Cont Can. Corn Produc Cosden & Co Cosden pf Crucible Steel Cuban-Am Sug. Cuba Cane Sug.. Cuba Cane S pf. Cuban Dom’can. Davidson Chem. Del & Hudson Dome Mines Dupont (ET). Dupont deb. Endleott-John. . Erle.... Erle 1st pf Erfe 2d pf. Famous Plavers Fifith Ave Bu: Fisk Rubber. Fleishman Freeport T Gen Am Tk Car. Gen Asphalt Gen Electric. Gen Motors Glidden. | Goodrich pf Goodyear pt Granby Consol. Gray & Davis Gt Northern ptf. Great Nor Ore... Guit St Steel. ... Hanna (MA) pf. Harbishaw Cab. Hartman Corp.. Hayes Wheel... Hudson Motors. j Illinots Central. Indiahoma. Inland Steel p! Inspiration. Interb Rap Tr.. In Combust E. Int & Grt North. Int M Marine pf. Int Nickel. ... Int Tel & Teleg. Invincible Ol | Jewel Tea Jones Tea. Kansas City S.. Kayser (Jullus) Keily-Spr Tir Kennecott. . Keystone Tire.. Lee T & Rubber. Lehigh Valley. . Lima Locomo Loft Inc. . Mack Truck Mellinson & Co Manati Sugar... Manhat El Sup.. Marland Oil McIntyre Por. May Dp Stores.. Miami Copper. . Middle St Ofl. .. Min St P &SSM Mo Kan & Tex.. { Mo K & Tex pf. Mo Pacific. . Mo Pacific pf. Moon Motor: Montg'y Ward. Mother Lod Nat Biscult. Natl Enamel Nevada Copper. N Or Tex & Mex. N ¥ Central NY Chi & St NYNH&Hartfd. North Amer.... Nerth Am pf.. North Pacific. Ohio Fuel Sup. | Ontario Silver. Owens Bottle, Pacific Mail Pacific Ofl Packard Motor . Packard Mot pf. Pan-Am Pete Pan-Am P (B).. Penn Coal & Cke Penngylvania. n Seabd Stl. Pere Marquette. Philadelphia Co Phillips Pete Plerce-Arrow, Plerce Oll. . Pitts & W Va Postum Cereal. Produc & Ref. Pullman Co Punta Alegre PureOll......... Pure Ol 8% pf. . ¥ Con Copper Reading. .. Remin 2d pf.... Rep Ir & Steel. Reynolds Spr. Rey Tobac (B) Royal Dutch. St Joseph Lead St L & San Fran St L&San Fr pf. St L Southwn Savage Arms Seabd A L pf. Sears Roebuck. Seneca Copper. Shattuck-Ariz. Open. 5% % 64% 40 36% 91% 166% 21% 10% 6l 6l 164 1% 69% 43%, 5% 56% 64 22% 46% 122 145 145 89% 1% 7 391 16% 79 96% 110% 14 102 18 114 51 1% 8 104% 2% 100% 27 15 20% 17% 21% 1% 66 9% 17% 44% 1% 3% 2T% 2% 4 17% 60% 62% 6 49% 160 175 131 53% 41% 21 17 77 22% 5 57 12% 30 10% 27% 24 21 8% AT% 554 12% 86% 101% 74 117% 20% 48% 57% High. 5% " 40 36% 92% 165% 21% 1 6% 6% 1% 11% 69% 43% 5% 56% 64l 22% 46% 122 145 145 839% 1% 8% 39% 16% 9 26% 110% 14 102 13 115 51% 18% 104% 2% 100% 27 15 20% 17% 21% 12 66 9% 17% 45'% 1% 38 27% 88% 4 17% 60% 62% 6 50%5 160 7 32 56 41% 221 101% 74 12% 20% 43% 68 Low. Close. 5% k) 66 40 36% - 92% 166% 21% 11 6% 6 1% 1% 69 48% 5% 56% 64% 22% 46% 122 145 145 39% 1% 78% 38% 16% ke 96% 110% 14 102 18 114% 51% 13% 9% % 69 48% 6 56% 110 5% 14% 273 | 169% | 13% | 6 78 36 16% | 8% 5614 27 6% 98% % 85% 24% 24 104% 2 100% | 26% 16 20% 17% | 215 12 66° s 17 45% ! 175 3% 27 33% 21 17% 0% 624 6 50% 160 i 82 55 | 41% | 2214 | 17 76% | 14 4 57 123 30% 10% | 27% | i 24% o % 4% 567 124 87 1013% k3 12% 20% 3% 58 82 8% 43 7% 36 12% 925 561 5% | 37 2% 2% 414 43% 21% 8% 234 42 62% e 55% 16% 85% 10 74% g % 313 | 87 | e 20 18% 3 274 304 9% 5% % % | USRub 1st pt Low. Close. 14% 16 9% 9% 23% 28% ¥ T, 18 18% 81 81 144 1% 4315 43% 46% 46% 867 86% H6% 33w 82% 82% 68% ¥ 68% 68% 51% b50% B1% 82% 82 824 84% 8% 83% 65% 66% 66% 101% 100% 101 9 8% 9 g e e % 2 2 9% 9% 9% 40% 39% 40% 56 56% 58 21% 20% 21% 8% 1% 8% 35 35 - 35 53% 53 53 82% 821 82% 8% 8% 3% 129 128% 129 71 16% 6% 10% 10% 104 334 82% 32% 78 78 18 4 & % 48% A9% 8% 87% 384 92% 924 92% 88 87% 874 117% 116% 116% 30 20% 30 25% 264 26% 8l 8% 8% 281 28 28% 10 10 10 18% 18 18 107% 107% 107% 68% B8% 68% % Th T 21% 21% 21% 4T% 4TV 4T% 1% 1% 1% 6% 6% 6% 22 22 22 6l 64 6% 61% 61 614 256% 265% 2554 Worthington... 24 24 23% 234 Wright Aero... 10 10 10 10 HOURLY SALES OF STOCKS. 11 a.m. 166300 12m....... 369700 FRANG DROP LA 10 GERMAN PLOT Short Sales in Amsterdam Blamed by Some; Lon- don, by Others. Opes. High. 14% 1% 24 7 18 81 14% 43% 46% 861 82% 68% 50% Shell Unlon. Shell Union pt. Simmon! Simms Petrol... Sinclair O11. Sinclair pf. Skelly Oll. Sloss-Sheffleld. . So Porto Sugar. South Pacific. Southern Rwy. Southern Ry pf. St Ol of Calif... Stand Oll of N J. Stewart-Warner Strombg Carb. Studebaker. Submarine Bt. Superior Cfl. Sweets Coof A.. Tenn Copper. .. Texas Company Tex Gulf Sulph.. Texas & Pacific. Tex &P C & Oll. Timken Bearing Tobacco Prod, Tobacce Prod Trans Cont Oil. Unlon Paclfic. United Drug. United Ry Inv. U S Cast I Pipe. USCastIr Ppf. U S Food Prod.. U S Indus Alco, U S Rubber... 14% 43% 46% 92% 87% 1% 29% 25% 815 28 10 18% 107% 58% 7% 21% 4% 1% 64 22 U S Steel U S Steel pf. Vanadium Corp. Va-C Chem pf... Wabash........ Wabash pf (A). Western Md. Western Md. 2d. Western Unlon. Westhse E1&M. ‘Wheeling&L E. White Eag Oil. White Motor. ‘White Oil Wickwire ‘Wilson Co. Willys-Overld. Willys-Overl pf. Woolworth. .. 61 266% BY WILLIAM E. By Cable to The Star and Ch yriggt, 192 PARIS, September 22.—The unparal- leled fluctuations of the franc lately have been due to German financiers speculating through Amsterdam, a prominent Franco-American banker told the writer. “This was especially true when the franc reached a level of 18 to the dollar,” he added. “Ger- man financiers wanted to drive down the franc for political purposes. One Dutch banker, who I suspect has been acting in the interests of the Stinnes-Thyssen Company, threw 300,- 000,000 francs on the market in one day. Almost all of his colleagues in Amsterdam_and Rotterdam followed suit by selling short. Temporarily these intrigues succeeded, but in the end they fafled. The Germdns want- ed to demoralize the franc perma- nently, but succeeded in getting it down to 18 to the dollar only for a moment. ASH. 0 Daily News. Failure of Plot. “The maneuver they started was nothing less than the far-famed drive which the world has been awaiting for vears. It was checked partly by concerted action on the part of the French business men, and partly by pessimistic_political ufterances on the part of Chancellor Stresemann in Berlin. All bankers do not agree with the financier quoted above as to the source of malevolent speculation. Some place the responsibility on Lon- Gon instead of Amsterdam. Indeed. this is the popular view in France. It is undeniable that politics have exer- ed greater influence on exchange within the last six weeks than ever before. Some Blame London. When the relations between France and Engiand appeared strained, when international financiers distrusted Poincare’s plans, francs went down. When Franco-British relations im- proved as a result of the Baldwin visit their value went up. Today under the influence of pessimism from Lon- don values reacted sharply again. Normally the deciding factors of the value of exchange are supply and de- mand. the budget figures and com- mercial balances. Now these factors seem to be over- shadowed by politics. Declarations that there is an intrinsic value below which the franc cannot descend, as | maintained by the French government propaganda bureaus, are scouted by Paris financie! WHEAT PRICES GAIN DESPITE BIG SALES Washington Gossip on Farm Relief Among Factors in Week’s Advances. By the Associated Pre CHICAGO, September 22—Despite heavy marketing of wheat in Canada, the wheat market here has averaged a little higher in price this week, helped by prospects of a settlement of differences between France and Germany and by gossip about Wash- ington plans for farm relief measures. Compared with & week ago, wheat this morning was unchanged to % up, corn at % to 1 advance, oats un- changed to 3 off and provisions vary- ing from 15 decline to 10 gair. Strength in corn had much to do at times with upholding wheat. Evi- dence was plentiful that serious dam- age to corn had been inflicted by re- cent frosts and that wet weather also had been a handicap. Corn prices also reflected scantiness of immediate sup- plies. Oats were weakened a little by_hedging sales. Provisions averaged lower, in line with hog values. A TODAY'S DAIRY MARKET. NEW YORK, September 22.—Butter —Easy; receipts, 9,745 tubs; creamery higher ‘than extras, 47a47%; cream- ery, extras, 92 score, 46%; creamery firsts (88 to 91 score), 43a45%; pack- ing stock, current make, No. 2, 323 a33. Eggs—Irregular: receipts, 15.- 417 crates. Cheese—Firm; receipts, 195,615 pounds. < SILK VALUES EASE OFF. NEW_YORK, September 22 (Spe- cial).—The raw silk market was quiet today. Prices eased off 10 to 15 cents a pound. The cotton goods market, was steady on light trading. Print sloths were at Fridey's fguie STRONG UNDERTONE IN FRENCH BONDS Treasury Buys More Liberty Bonds—B. & 0. Issues Score Advances. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, September 22.—Al- though subject to the Inevitable prof- it-taking, the French government bonds maintained their strong under- tone in today's market. The feature all week has been the activity of French securities. This has been due to the same influence - which caused the advance in French exchange prat- tically to the 6-cent level. Both the speculative and investment communi- ties have been impressed by the &p- pearance of progress toward a set- tlement between France and Germany. Step Toward Stabilization. Tt has been a subject of comment that central European bonds have not shared the favor shown to the French issues. Among the South American issues Brazilian obligations have been heavy except the coffee secured 7% per cent sterling loan, which is in a class by itself. There has been con- tinued ‘weakness in the Cuban Gis, with a new low record. All that-this represents is a movement toward sta- bilization. Liberty Bonds Firm. Liberty bonds were strong again to- day. The stock explanatipn was buy- ing for account of the Treasury, al- though a perfectly logical explana- tion would be a break in time money rates. There is also reason to belleve that there has been more than the usual amount of buying of libertys for private investment. It is doubtful whether the banks are adding to their holdings. Other investment bonds have failed to improve. e Speculative Move With Stocks. securities have fluctu- ated. this week in sympathy with speculative stocks, although _there has been little response so far in sugar bonds. Nor, on the other hand, have the steel bonds been much af- fected by the depression in steel stocks. A possible exception is Beth- lehem Steel refunding s, which showed a loss of about 3 points. Week's New Offerings. ew offerings totaled 01,000, of which the largest single issue was §10.000.000 Pacific Gas and Electric 5 The Ohio Power Company also put out $£6,000,000 in mortgage bonds. In industrial issues the California Petroleum $8.000,000 61% per cent of- fering was the largest. Undoubtedly there will be further offerings of oil bonds in the near future. Great interest was taken in the progress of the new Canadian loan offered in the Dominion. Local bank- ers were surprised at the capacity of the Canadian market. B. & 0. ISSUES GAIN. Move Up in Response to Earning Reports for August. By the Associated Press. NEW YORK, September 2 strength characterized today's early bond dealings. Some of the French municipal issues reacted slightly, but Christiania 8s gained more than a point and Belgian 8s. Bern S$s and Central Railway of Brazil 7s each moted up %. United States govern- ment bonds shaded a bit. Railroad mortgages were firm, Bal- timore and Ohio convertible 4125 ris- iing 134 in response to reports thax] net earnings in August would ex- ceed $4,500,000 as compared with ‘a deficit of about $650,000 in the same month_last year. Virginian railway 5s gained 1%. U. S. Rubber issues were strong and further improvement was{ noted in sugar company liens. | IPRICES IRREGULAR INCOTTON TRADING —Quiet Early Declines Are Largely Offset in Later Evening Up of Contracts. By the Associated Prews. NEW YORK, September cotton market was lower during to- day's early trading under furtfer ligquidation and scattered selling pro- moted by the easier showing of Liverpool and reports that Lancashire mills using American cotton would continue on haif time during October. The market opened steady at a de- cline of 4 to 35 points and was un- settled after the call with October easing off to 29.05 and December to 28.57. or about’ 25 to 28 points lower. Some trade buying was reported at the lower prices, while there was covering for over the week end, which was probably influenced by the pros- pect for increasingly cloudy weather in_the southwest. Futures closed barely steady. Oc-| tober, 29.25a29.38; December, 28.85a January 28.38a28.46; March, 2 28.43; May, 28.19a28.30. Cotton, spot quiet; ins in New Orles NEW ORLEANS, September Dry weather over the greater part of the belt and poor cables caused sell- ing on the opening of the cotton mar- ket today, and prices dropped 20 to 27 points under the close of yesterday, to 28.10 for October. New buying was felt at the decline, and by the end of the first hour of t ing it caused re- coveries to within 5 to 10 points of yesterday's final prices, October com- ing back to 28.27. Cotton futures closed steady at net gains of 3 to 14 points. October, 28.48-50; December, 28.40-45; January, 28.22; March, 28.03-08; May, 27.83-87. 22.—The 22 low middling, 28.00; middling, good middling, 29.50. 29.00; FINANCIAL NOTES. NEW. YORK, September 22.—It is estimated that earnings of hte Kelly- SPrlngfleld Company in the first eight months of the year were around $5 a share on the common stock, which this week sold at the lowest price in its history. Bhere is a dis- posiiton to attribute the slump in the shares to a weak technical position. It is said the stock no longer enjoys the market sponsorship it formerly had, and besides that, it is believed a large block of the stock - was liquidated for certain interests in the company. Regular quarterly dividend has been declared on Jones Broters' Tea common stock. The usual quarterly payment of 13, per cent was also ordered on the preferred. Declar: tion of the dividend on the common effectively sets at rest reports that it would be reduced or passed, and to twhich reports the recent wide break in the price was attributed. CLEARING HOUSE REPORT. NEW YORK, September 22.—The actual condition of clearing house banks and trust companies for the week shows a deficit in reserve of $6,354.860. O ) This is a decrease of B Spot cotton quiet and unchanged. Sales on the spot, none; to arrive, 550; ON NEW YORK BONDS 5 sxci] Received by Private Wire Direct to The Star Office. (Bales are in $1,000.) UNITED STATES BONDS. (Fractions represent _thirty - seconds. Example: 98-3 means 98 3-32.) Sales. High. Tow. Close. Lib3%s.. 81 99+26 99-26 ,99-26 Lib 18t 4%s. 6 98-3 98-3 98-3 Lib2d 4%s... 67 98.5 - 98-3 98-4 Lib3d4is... 238 98-30 98-28 98-28 Lib4th4is.. 122 98-6 98-4 98-4 . Low. 101% 101% 88 87% 100% 100% 101 101 108% 108% 88 8T% 80 79% 9% 954 8 101 95 100% 101% 99% 101% 9874 99% 102% 98 102% 103% - 94 103% 94 1091 108% 89% 89% 9% 91y 3 109 93 109 96 964 9% 9% 96% 96% 96% 9614 8814 1004% 88t 100% 95% 20% 95% 20% 94 8% 9% 8% 80% 80 80 9% 52% 524 82% 323 97% 974 963 964 95% 1% 95% 2 4% 90% 5 108 4% 105% 3 101% 1 91% w1 1 97 91% 97 1 98% 984 3 864 86 35 67 66% Close. 101% 87% 100% 101 108% 8% 80 78 95 101 1% 99% 984 102% 103% 94 109% 89% 1% 93 109 96% 1% 96% 6% 88% 100% 95% 90% 9114 8% 80 80 62% 32% Austria 7s. Belgium T4%s. Belglum 8s. Bordeaux Brazil 7s.. Brazil 8s. Brazil 73s. Canada 5%s 1929, Canada 58 1931 Canada 53 1952 Chile 8s 1926. Chile 8s 1941, Chile 1943, Christiania 8s Copenhagen 6348 Cuba 5igs w1 Czechoslovak Denmark 8s Denmark Dutch E15% Dutch East I 6547, Dutch East I 68'62. Framerican 7%s French Govt8s..., French Govt 73s. | Haiti6s. .. .. 3 Japanese 2d 415 Japanese 4s Lyo: Marseilles 6s. Mexico 5. Mexico 4s. Netherlands Norway 6s 1943 Norway 65 1952. ... Orient Dev deb 6. Paris-Ly's-Med 6s. Queensland 7s..... Queensland 6 Rio de Jan 851946, Rio Gr Do Sul 8s. Sao Paulo,State. Seine, Dept of, gerbdu (:r:u- 8lo 'weden 6s. .. © 3 104% 104% Ud Kingm 5%8'29. 5 111% 111% Ud Kingm 5%s°37. 35 101% 101% MISCELLANEOUS. Ajax Rubber §s. 2 924 Am Chains f 6s' 2 92% Am Cotton Ol 5s.. 2 6914 Am SmIt&R 1st5s. 4 901 Am SmIt&R 6s. . 6 1001y Am Sugar Ref 6s.. 1 10134 AmT&Tecltr 5 97% Am Writ Paper 6s. 574 Anaconda cv db 7s. 99% Anaconda 1st 95% Armour & Co 4% 834 Barnsdall s f 8s 974 Bell Tel Pa s 97% Beth Steel 5%s'53. 89% Beth Steel rf 5s. ... o1% Bush T Bldg 5s 60 9i% Central Leather 97 Cerro de Pasco 8 121 Chile Copper 6Gs. ... 98% Con Coal Md 1st 5s. 861 Cuba Cane cvd 8s. 9355 Cuba Cane ev 7s '30 88% Det Edison ref 6s.. 1 102% Donner Steel 7s. 90 Du Pontde N 71 10814 Dugquesne Light 6s. 3 104 I2st Cuba Sug 714s. 60 100% Empire G&F T%s.. 15 92 Fisk Rubber$s.... 4 103 Gen Refractres 6s. 98 Goodrich 614s. 99% Goodyear 8s 1931 101% Goodyear 8s 1941 116 Hershey 65 1942. .. 98K Humble O&R 514s. 9% Illinois Bell 1st 5s. Int Mer Marine 6s. Int Paper 1st s B KCP&Ltos A" yser (J) 7s..... Liggett & Myrs bs. Lorillard (P) 8s... 1 Manati Sug sf 7%s Midvale Steel 5s... 1 Montana Power §s. Morris&Co 1st 4345 New Eng Tel 58 N Y Edsn 1st 634 NYG EL H&P 4s N'Y Tel 65’41 N Y Tel 63" N Y Tel 4 ; Nor States Pow 6s. . N Am Edison 6s Northwst B Tel Otis Steel T3 Pacific T & T 68 '52 PhilaCoref 65 A.. Phila Co 5348 '38 Pierce-Arrow s Public Service 5s. . Punta Alegre 7s. Sharon St1 H 8s. Sinclair Oll 7s Sinclalr Oil 6%s Sin Crude O115%, So Por Rico Sug 7s. Steel & Tube 7s. Sug Est Orient 7s.. Tide Wat Oil 63s. Tobacco Prod sf Unit Drug cv 8s US Rub 1st rf U S Rubber 7% USSteel s f bs. Utah Pow & Lt bs. Vertientes Sug 7. Va-Car Chem 7 West Union 6%8 ‘Westinghouse 7s Wickwire Spen 7 Wilson & Co 1st 1 95% Wilson&Ccv T3%s. 1 96% —_— SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) cRomnammaG 5% o1k 4% 105% 101 1% 97 9815 86% 67 1043 iy 101% 924 92% 69% 90% 100% 101% 7% 2% 928 69% 90% 1004 101% 97% 57 995 967% 88 7% 97% 89% 91% 91% 96 121 981 £615 935, 881, 1027% 90 1084 % 103% 100 91% 103 98 994 101% 116 98% 95 93% 6% 83% 90 105 : 953 9% 98 6% 95 78% 97k 1091 e 191231 00 19 1= @0 19 69 1= 1 5 €8 1= s e 1 €3 1 1 0190 €0 9714 10815 823, 104% 106% 937, 100 1% 1078 92 % 90% 100 5 90% 745 80 % 108% 9% 92 86 9414 100% 105 968 102% 104% 111% 86 105% 101% 89 96% 89 108% 107 94 95% 861 104% 105% 93% 100 914 1078 92 0% 100 9035 4% 80 109% 99y 92% 86% 945 100% 105 96% 102% 104% 111% 86% 105% 101% 89 97 89y msy 107 95 95% 964 el O e N D BT - 14 89y 3 109 4 107% 2 95 Aluminum Co. of Amer. Aluminum Co. of Amer. American Cotton Oil 6s 1924.... American Sugar 6s 193 American Tel. & Tel. 6s i American Tel. & Tel. 6s 1925 Anaconda Copper s 1920, ‘Anglo-American Oil 7igs Canadian Nor. 5igs 1924. Central Argentine Rwy 65 192 Central Leather Gs 1925. Chi., R. 1. & Pac. Sl 1026 Chicago Tel. os 1623. s Du_Pont 7las 198! Federal Sugar Ref. 65 1933. ber Body Corp. 6s 1927. sher Bod: . 8s 1028 Goodyear T. & K. 8s 1081, Great Northern Ts 1936, Hocking Valley 8s 192 Humble 01l 53¢ 1932. Kansas City Term. 65 1023 necott Copper 78 1930. Michigan State Tel. 58 1034. M., St. P. & 8. 8. M. 8i4s 1931, Morris & Co. 78 1980. 3 Penna. R. B. 78 1980, < St. Paul Union Depot 538 1623 Sears, Roebuck & Co. 7s 1923... Standard Oil of Calif. Switt & Co, s 1983 Tidewater Oil 6138 1 Unlon Tank Car U. 8. Rubber 7 . Western Union 6%s 1886...... Westinghouse E. & M. 7s 1931, —— U. 5. TREASURY CERTIFICATES, (Quotations furnisbed by Redmond & Co.) ——0l lose.—— to—Maturity— Bia. _ Ofter. e 15, 203142 100132 132 . 1924 100 3-32 3 o Aomtember 10, ib3i 100s.10 i%03518 T it 100118 100532 Maweh 15, 1925 s 99 27-32 99 3132 s June 15, 1925 15, 1925, o9 99/ b 100382 100316 100782 100 11-32 ® March 15, 1928, 991316 99 15.16 % 105 1008 107! 5 3 tember 15, 1036 % Sbren 16, 1627 s December 15, 1 CLOSING SUGAR PRICES. NEW YORK, September 22.—Sugar futures closed irregular; approximate sales, 10,600 tons. October, 5.50; De- cember, 4.81; March, 3.83; May, 3.98. BUTTER LOWER TODAY. CHICAGO, September 22.—Butter lower; creamery extras, 4514; stand- ards, 45; extra firsts, 44ad5; firsts, 413242 ; seconds, 40ad0%. Eggs - unchanged; receipts, 13,395 gav, | RAILROADS. Sales. High. Afchison gen 4s.... 16 Atchison adj 4s. 2 AtlanticCL 1st 4s. 8 Atlantic CLcl 4s.. 1 B&Oprind%s... 3 B&Ogold ds 19 B&o . 3 Ocviys Bloflffi‘l‘ . # B&O PLE&WYV 4s. B&OSW div3ys Canadfan North 7 Canad North 63% Canad Pac deb 4 Central Pacific 4. Ches & Ohio cv 5s. Ches & O gn 414 Chi & Alton 38 Chi & Alton 3345, Chi B&Q gn 45 '58. Chi B&Q 1st rf 6s Chi Great West 4s Chi M&St P rf 4143 Chi M&St P 4525 Chi M&S P ev 4148 Chi M&St P 4534, Chi Rys 6s. . 3 Chi RT& Pac rf 4 Chi Un Sta 6%s Chi& W Ind cn 43. CCC&StLrf6sA.. Cleve Term bs. Colo & Sou 4% Cuba R R 5s. D & Rio G imp bs. . D&RG1strf fs.. Det United 41¢ Erie 18t con 43 Erie gen4s... Erie®ony 4s A Erle conv4s B Erieconv4sD.. Grand Trunk 7 GrNorth gen Ts. .. Gr North gen $14s. Hud & Man ref G Tl Central 5% 5. Int Rap Tran bs. .. Int Rap Tr 58 stpd. Int Rap Tran 6s. .. Int & G Nor 1st 6; Towa Cent rf 4s Kansas City § 3s. . Kan City Term 4s. Lake Shore 45°28. . Lake Shore 48 '31 Lehigh Valley Louis & N unf 4, Louis & Nash & Low. 87T% 9% 86% 80% 956% 77% 100% 8% 82% 5% 93% 112% 112% 9% 86 874 82% 54 29 85 98% 4% 624 7 57 72% 76 72% 11815 68% 101 9454 80% 85 8384 42% 85% 57 49 521 52% £4% 112% Market St cn 5a. M 615 MK&TprinbsA MK&T6sC [ PRT VT PR TET pe) -y 6 Mo Pacific gn 4; V'Y Cent deb 6s. ¥ Centdeb 4s. YCentris N Y Centcn 4898, New Haven 7s fr NYW& Bos 43 Norfolk & W cn 4s. Northern Pac 3s. .. Northern Pac 4s. .. Northn Pacri 6s.. Ore & Calif 15t 5s. . O Short L cn 5s°46. Ore-Wash 1st rf 45 Pennsyl gen 5s. ... Pennsyl 68 Pennsyl gold 7s. Pere Marq 1st 5s Pere Mrq 1st 4s 36 o s PR RoHe s BHOREBRE -~ DO~ Rapid Tran 6s..... St L IM&S R&G 4s. StL&SFpldsA StL&SF prin bs. StL&SF inc6s StL StL StL StLS @ &S &SF &SF &SF W Seab’'d A Liref 4s Seab'd A L adj 5: Seab'd A L con 6; Sou Pacific 45 1929. Sou Pacific ref 4s. . Sou Pacific clt 4s. . Southern Ry gn 4s. Southern Ry 6%s. Third Ave adj s. iTolStL&W 4s Union Pac 1st4s. .. { Cnion Pac 1st rf 4s Union Pac cv 4s { Union Paccvés. .. Virginia Ry 1st 5s. Western Md 4s. . Wheel & LE cn 4s 92 8515 8214 670 100% 503, 691 914 £ 200 €3 55 i 1 e e b e B 0 0 e 031 931 595 62 103 62 1l1am.. 1547000 12noon. 298 —_— tle were relatively than any animals, vey made by the United State: partment of Agriculture prices were not high compared the peak reached in 1920, the ages indicate that pure-bred cattle were in good demand. {Re_nonx were received on a of five higher in d: Guernsey, stein : Ayrshire, Swiss, 157; Jersey, 1,9 mals reported, 3,187, or nearly half, sold for more than $150 The number of animals of each in this price range wa: Brown Swiss, 35; Guernsey, 979 stein, 1,068; Jersey, 920. Average prices received by b: 2.160; 509; both private and auction sales Avyrshire, $181.73; _Brown 3 Guernsey, §: 36; §18 and Jerse: Swiss reported were disposed private sale. The data shows difference in prices received b; two sales methods was so smal ifi 1922 hea: were mnot says. Highest prices by breeds Ayrshire. $3,000: Brown Swiss, Guernsey. $7,500; Holstein, Jersey, $920. LIVERPOOL COTTON. Ho stified, the depar: spot supply restricted: prices 17.11; good ordinary, 16.61; ord 16.31. Sales, 5,000 bales, American. Recelpts, 24,300 bales, all Ame: Futures closed eas: Septe 16.88; October, 16.14; December, January, 15.46; March, 15.20; 14.95; July, 14.53. —_——— FOREIGN EXCHANGE. including September 22, 1923—10:51 a 814 957 TOTAL SALES (Par Value): Close. 88 79% ' 86 80% 85% 78 100% 81% 2% 5% 3% 112% 112% 80 88 87% 82% 54 29 85 98% 45 77 57% 2% 76 73% 113% 68% 101 9454 80% &5 83% 42% 86% 87 49% 52% 52% 54% 112% 89% 77 504 104% 88 94% 79% 60 3814 90% 59% 83% 104% 99 100% 78% 99% 107% 109 93% | 6% 67% 4% 67 81% €4 903, 738 98% 5% 72 52% B FINANCIAL. ! Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. _!::fn—smctly fresh, selected, can- dled, ‘per dozen, 40; average receipte. 38; Storage, 32a33, Live poultry—Roosters, per 1b., 18; turkeys, per Ib., 32; spring chickens, per 1b., 28a30; keats, young, each, 50a 60: féwls, per Ib., 24a26. Dressed poultry — Fresh killed spring chickens. per 1b., 34a38; roost- ers, per 1b., 30a35; hens, per b, 30a32; turkeys. per Ib., 40a42; keats, youns, each, 70a75. - Live stock—Calves, choice, per lb., 12; medium, per Ib., 10a11; thin, per Ib., 6a7. Lambs, spring, per Ib., 14%. Live 3;{" 3.00a5.00 each; live hogs, per Ib., Green fruits—Apples, new, per bas- ket, 50al.75. California oranges, per crate, 5.0026.50; Florida, 3.0026.00. Lemons, per box, 6.00a7.50. Grape- fruit, 4.0024.50. Peaches, per crate, 1.5023.00; 15 -bushel basket, 1.00a1.50. Grapes, Concord, 1.50a2.25; Delaware, 1.50a2.50; Ni 0; Colorado ; flats, 762 egetables—New potatoes, per bbl., 1, 4.50a5.00; No. 2, 2.00a2.50. New potatoes, round, per bag, 3. : New Jersey, giant potatoes, per bag, 3.00a3.25. New sweet potatoes. 3.5024.00 per bbl. New York lettuce. per crate, 75al1.75. Cabbage, north- ern, 2.50a3.00 per 100 Ibs., nearby, 1.50 al.i5 per bbl. Eggplant, per crate, 1.00a1 Tomatoes, %-bushel bas: ket, nearby, 40a1.00. Beans, 1.50a3.00 per bbl. New York celery, per crate, 4.5023.50. ~ Squash, 75a150. _Peppers, per crate, nearby, G0a60. Kale, per bbl, *75a1.00. Spinach, per ecrate, 1.00a1.25. Home-grown ~lima _beans, per quart, 20a35. New York cucum- bers, per ‘bushel, 2.00a3.00. Sugar corn, per dozen, 15a30. GRAIN AND PROVISIONS. BALTIMORE. Md., September Special) —Potatoes, white, bbl., 1.25a ;150 bs, 8.00a and yams, bbl., 1.00a Beans, bu., 1.10a bu..' 1.50a2.00. Cabbage, 4.0026.00. beans, 5.00a6.00. Carrots, hamper, 5a75. Corn, . basket, sket, 35a40. ery. doz. Cucumbe: plants, 25a1.00. Peppers, basket, ket, 15a25. Tomatoes stock, b 50260, . Packing Turnips, basket, 1.50a2.50; bu., 50a1.25: ‘antalopes, crate, 1.00a a50. Crabapples, bas- basket, 60a70. Peaches, bu., Pears. bu., : .00. Water- melons, each, 10a2 Selling Prices on Grain, Wheat- 2 red winter, spot, 1. red winter, garlicky, spot, 1.02 3 red winter, garlicky, spot, 99; No. 4 red winter, garlicky, spot, 95. Sales—Cargoes on grade, No. 2 red winter, garlicky, at 1.02; No. 3 at 99. Three thousand bushels No. 2 red win- ter, garlicky, spot. at 1.03; 5,000 bush- els’of No. 3 red winter, garlicky, spot, at 1.00%; 13,000 bushels of No. 3 red winter, garlicky, September delivery at 1.04%; car lot of No. 5 hard win- ter, spot, at 1.06%. Corn—Cob, new, 5.10 per barrel; No. corn, spot, no quotations; track corn, vellow, No. 2 or better, 1.05. Sales—None. Oats—No. 2 white, new, 48%; No. 75a85 per bushel; No. , 7732 per bushel. Receipts, 117 tons. There is an ample supply of hay as compared with the moderate demand at present at 23.00 to 27.00 per ton. Some ac- cumulations are noted, and the Penn- ylvania railroad has placed an em- bargo against further shipments of hay to all points in Baltimore until present accumulations are cleaned up. Straw—No. 1 tangled rye, 16.00: No. 1 wheat, 12.50a13.00; out, 13.00a14.00. 15.00a TODAY'S CHICAGO PRICES. CHICAGO, September 22.—In- creased selling on the part of com- mission houses led to a decline in wheat prices today during the early dealingg. Besides, less aggressive support' for the market was in evi- dence. and rallying power appeared to be limited. Reports of heavy snow in the exert notable bullish influence. 9% 59% 59% 62 7000 PURE-BRED DAIRY CATTLE BRING HIGH PRICES Sale prices of pure-bred dairy cat- {ra other kind of pure-bred | according to a recent sur- 1922 s De- Although with aver- dairy Hol- Brown 75. Of the ani- one- each. breed Ayrshire, 185; ; Hol- reeds, including all ages and both sexes at were Swi: Istein, $186.50. All Brown of at that v the i that v auction sale expenses tment were: $500: $5,000; LIVERPOOL, September 22.—Cotton easy; good middling, 18.26; fully middling, 18.06; middling. 17.66; low middling, inary, 2,000 rican. mber, May, lggh (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks day. gold value. London, pound. 4.5665 Montreal, doil Paris, fran Bruesels, franc. Berlin, ‘mark. Rome," lira. Zurich, frane. Athens, drachma Madrid, peseta Vienna, crown Budapest, cro Prague, Copenhas Copenhagen, crown. Christiania,” crown. Stockbolm, crown. By the Associated Pres NEW YORK, September 22. elgn exchange firm. Quotaf United States dollars): Great Bi n (in ritain —Demand, 4.55%: cables, 4.553; 60. day bills on banks, 4.521. Frz‘nre Demand, .06013%; caWies, 0602, —Demand, .0451, cables, .0451% ium—Demand, : rmany—Demand, 000000007 ; c .000000007. Holland—Demand, cables, .3936. Norway-—Demand Sweden—Demand, ,2650. Denm: Demand, .1783. Spain—Démand, .1385. ~—Demand, .0180. Poldnd—De: .000004. Czechpslovakia De: .0!9’:? Jugoslavia—Demand, Aust -Demand, .000014. —Demand, .0046%. Argentina mand, 3375, Brazil—Demand, Montreal—Demand, 91 di-dfs ables, .3930! .1802. Switzerland—Demand, Greece mand, mand, L0108 Rumania —De- 1012, lnml! dairy animals representing The opeiing, which ranged from % to Gal. lower, with December 1.02% to 1.02% and May 1.08 to 1.081§, was followed by a slight further setback and then something of a rally. Corn and oats were firm as a result of active demand for immediately available supplies of corn. _After opening unchanged to 3 higher, December, 673 to 6713, the corn market continued to ascend. Oats started unchanged to % higher, December, 39% to 39%a39%, and later held near to the initial nge. Provisions were steady, in line with hog values. WHEAT— September December May Comy- September % : Low. Ciose. 101 103 1088 High. 1.0 Toas 108% Open. 1.00 L1023 108 . Bt %0 e 11.80 1077 s, 9. May ...... LARD— October October January CHICAGO LIVE STOCK MARKET. CHICAGO, September 22 (United States Department of Agriculture).— Hogs—Receipts, 4,000; uneven; most sales steady: few desirable ' light, steady to 10 lower: weighty butchers, steady to strong; bulk, better grades, 185 to 240 pound averages, 8.50a8.90: top, 5.90; desirable, 260 to '300 pound butcher: mostly £60a8.70: packing SOWS, a7.70; killing pigs, 50 higher; few desirable, weight, 7.00a7 estimated over, 6,000. Cattle—Receipts, 1.000:. compared week ago, matured heef steers, large- Iy 50 lower; vearlings, 25 to 50 low- er: top matured steers, 13.00; best Vvearlings, 12.50; canners and cutters and bulls, strong; vealers, 0 higher: stockers_and feeders, steady to_25 lower. Weekbulk prices follow: Fed beef steers, 9.15a1l butcher cows and heifers, 4.00aS. canners and Cutters, 2.85a3.50; vealers, 12.75a13.60; stockers and feeders, 6.00a7.50. Sheep—Receipts, 5,000; compared week ago, fat lambs, 50 lower; fat sheep and feeder lambs. 25 lower: Closing top natives, 14.35. Week's bulk prices: Natives, 13.25214.00; culls, natives, 9.30210.00; vearling Wethers, 9.50a11.00; wethers, 8.20a 8.75; fat ewes, 5.50a6.75; feeder 1ambs, 13.25a13. 2 DAIRY PRODUCTS. LTIMORB, Md., September 22 (Spe- clg?-un poultry—Spring chickens, 28; Leghorns, 5. Old hens, 20a 27; Leghorns, Old roosters, 15a16; ducks, 17a24; pigeons, pair, 25; Guinea fowl, each, 40a45. g Eggs—Loss off, native and nearby firsts, dozen, 40; southern, 37. Butter—Creamery, good to fancy, pound, 46a48; prints, 48ag0; nearby creamery, 35a40; ladles, 34a35; rolls, 31a33; store packed, 31; dairy prints, 31a33; process butter, 38a39. —_— RARE CLOTH EXHIBITS. Cotton Woven Before Christian Era Soon to Be Shown. BOSTON, September 22.—A collection of ancient bits of cotton fabric will form a part of an exhibit of the cotton industry which will be presented by the Natlonal Association of Cotton Manufacturers at their International Textile Exposition in this city, begin- ning October 29. It will include pieces of “cloth woven in Peru befors the Christian _era and others from anclent Java, Indis and China and fifteenth century Sicily. There will also be a display of mod- ern cottons, embodying suggestions as to the manufacturing possibilitics and a display showing the istory .of cotlek. . 25 to strong hold- ————— e BANKS DISPOSING OF LIBERTY BOND Higher Rates Obtainable for Business Money Cause Heavy Selling of Issues. The volume of trading in bonds is extremely small, show no positive trend, While sentiment is somewhat mixed, there seems to be a larger number of dealers who expect a declining tendency than there are who belieya an advance is in order. The latter position seems to be sup- ported by a variety of facts. For one thing, commercial banks and Federal Reserve banks have reduced hold- ings of government obligations sir January 1. Then, too, it is pointea out that with interest rates becoming firmer banks ave considerable duéement to sell Iiberty bonds bought several points under the pre. ent market, anq lend the proceeds : 53 to 6 per cent. Banks Selling Holdings. A banker, discussing the present fnarket for'liberty bonds, sald: “A e number of people hought 1i erty bonds because they believed they would sell at $110 to $120 for $100. A important point, however, that these people overlooked, is that liberty bonds do not have the circu- lation privilege, whereas- bonds that sold at big premiums did so mainiy because they carried the circulation privilege, making them able to tional banks. Liberty will prob. ably sell at a premium again, but there seems to be no reason to hope for more than a few points aboy par.” Statistics of 770 leading banks of the country show that oldings government issues have decreased $287,704.000 since January 17, last, A’ these banks hold approximately onc- third of the banking sets of the country, the indicated liquidation for all commercial banks gregat. $863,112,000. Federal Reserve hanks during same period have reduced th h ings of government issues $313,67 000. making a total indicated redu. tion in holdings of commercial ba and regional institutions of $1.1 762,000, Public Debt Reduced. The public debt of the country ha been reduced approximately $600,000.- 000 since January 17. Tart of these obligations were’ held by banks, sav $200,000,000; the balance of approxi- mately $976,000,000 must have been liberty and prices the sold by the banks to the general public. Despite this hea selling and de- spite the higher interest rates now prevailing as compared with a e ago, the more conser ive dealers are fairly optimistic. They say that while no appreciable advance can be reasonably expected in the mear fu- ture, the fact that quotations have held so well despite hea sel proves that there is real buyinz power behind the market. hj Canadian northwest failed to | BUTTER IS LOWER AS WEEK CLOSES Past Two-Week Advances Check- ed by Sale of Supplies in Storage. By the Associated Press CHICAGO. September 22.—Butter price advances of the two weeks of September were checked during the past week, partly by the movemen: of stock stored during June and Julv at under 40 cents. Use of storagr butter also relieved the shortage « fresh stocks. Production continued to declina and receipts at the four major market maintained about the same level as during previous weeks. Consumption is reported holding up_well Foreign arrivals at New York i cluded several cars of Canadian but- ter, 2,0 boxes of unsalted Argentine and 3,199 casks of Baltic. Range and closing whoiesale prices 92 score butter. during the wéek wer: as follows: Chicago, unchanged a w York, higher at 47 2 higher a Philade higher at 48, DELAY ACTION ON ETUTZ. NEW YORK. September 22Tt ow said that the matter of relistine utz Motor stock on the New Yo iStock Exchange has been laid over juntil next vear. by which listing authorities will details “on the distribution of the stock and a year's progress under the company’s new financial manage- ment. The shares were stricken from the exchange in 1920. when in the famous Ryan corner the price soared from 100% to 724. Recently the shares on the Curb have been selling in the neighborhood of 10, a low record level. time the have furthe | COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY SEATTLE, September 2. wheat is now moving in large vol- ume to Pacific northwest tidewater terminals, Carload receipts are from 350 to 1,000 more than for this time last year. Demands have slackened considerably, although there is soms small buying for Japanese account around $1.06 & bushel for white wheat. DETROIT. September 22.—Th dency toward closed car buying is growing more noticeable, according to Ford officials. They assert the four- door sedan has grown marvhlously as a family car this season and is more in demand than ever before. CLEVELAND, September 22—W. T Halliday, attorney for the Standard Oil Company of Ohio, said today that he did not think many distress stocks of gasoline were coming into this state. For some refiners to take ad- vantage of bankrupt prices for crude in the south and west would force a number of others in this state to close down, throwing thousands of men out of work, he added. NEW ORLE! September The jump in menthols as a result of the Japanese disaster caught many drug men short. The sale of camphor has been stimulated and there is strong demand for insect powders. Over twenty new drug stores have opened here this year. PHILADELPHIA, September There is a more cheerful feellng in the sole leather trade here. Oak and union backs and bends are wanted at prices ranging from 47 cents for heavy steer backs to 35 cents for common cow backs, 20 to 22 cents for scoured bellies and 12 to 14 cents for heads. Belting butts are in good demand at 70 cents for No. 1. ST. PAUL, September 22.—Christ- mas tree dealers from all over the middle west are arriving here to pre- pare for their annual pllgrimages into the northern Minnesota woods. VALDOSTA, Ga., September 22.—Lo- cal interests here announced toda: they would construct the largest to bacco_warehoyse in the state befor. the ripening of ‘the next crop. Pald instructors in tobacco culture are im eab demapd in 5QULL Georglay —New crop ten-