Evening Star Newspaper, September 26, 1923, Page 22

- 22 STOCKS STRONGEST | INFALTRADIG Studebaker Break Checked. Covering in Steel—Sugars Again Very Active. BY STUART P. WEST. Cpeeial Dispatch to The Star. NEW YORK, September 26.—Fur- ther weakness in some of the motor stocks and in the rubbers and tires was one of the chief incidents in the trading on the_stock exchange today. Studebaker made a new low for the vear. Selling in the tire shares was not heavy. but they vielded very readily to bear attack. One of the rumors accompanying this week's campalgn against Stude- baker has been that the Fords were planning a quantity production of Lincoln cars. If there were anything to this story it might account for the weakness in Studebaker stock, but it does not jibe with the remark- able steadiness displayed by General Motors. This is one stock. at least, which has been consistently and very solidly supported, yet with good rea- son, in that earnings warrant a high- er dividend and this could come at any time. Better Resintance Shown. Resistance began to be encountered in Steel common around $6, in Bald win Locomotive below 113, in Stude- haker around 96 and in American Can under 90. These four stocks had been making up about a third of the total trading and when they com- menced to steady the general list was immediately influenced. Followers of the railway stocks had occasion to be disappointed by the way they acted. Northern Pacific and Great Northern preferred, both came down a point and were off over two points from their recent high. Evidently their little upturn had been entirely dependent upon the covering in of a short interest. Although Union Pacific’s August statement made the best comparison with other months of any that so far have appeared, the stock was freely loffered.” one or two large blocks changing hands on the dip to 128. Sugar stocks were helped by the further advance in sugar prices, both (Taw and refined. A little buying {came into Anaconda and one or two others of the coppers on the idea that the prospective resumption of busi- ness in the Rubr would improve the export demand for the copper metal. A drive against the rubber and tire i stocks followed loglically the weak- in the motors. The street be- lisves that in both instances over- production has occurred and _that more price cuts will occur. Tt is pretty certain that none of these companies was loaded up with high- priced crude rubber when the mark-t for the latter had its sharp break. This being the case, the fall in tha price of the raw material should have (been a good thing. It should have materfally reduced manufacturing costs and thereby have furnished' a partial offset to the price reductions on the finished product. But Wall street argues that the rubber and tire shares would be finding more buyers at the present very low prices were matters going satisfactorily with the companies Steel Buying at Standstill. With Wall street taking its cue almost entirely from home trade in- dications, the two most interesting incidents of the day were the mid- week reviews on the steel situation and the statement by the president of the Studebaker Corporation throw- ing light upon the much-discussed position in the automobile trade. The steel reviews reported another week jof deadlock. Consumers finding that {they can get ready deliveries upon old orders are still holding off from placing new business. Selling of Studebaker was checked by a statement from the president that the company was getting its share of business and it was prob- able the actual sales for the fourth quarter would run well ahead of 1922 Production is to be cut down, accord- ing to custom, but Studebaker busi- ness is likely 'to reach the schedule of 150,000 cars for the twelve months outlined at the start of 1923. 1t is reported that there has been a good deal of buying back of Amer- ican Can by people who sold out ten points higher early in the month, This buying showed the strength of the stock in the last hour. Baldwin Shorts re busy covering Steel common above 97. The decline in Burns Erothers A. was stopped by announce- ment of the president of the company responding to recent Wall street rumors, that there was no intention of reducing dividends. MAREET CLOSES FIRM. By the Associated Press NEW YORK, September 26.—Read- justment of ' speculative accounts brouzht about a moderate rally in teday’s relatively quiet stock market. Bear operators again offered Stude- baker and Rubber freely. but the failure to unsattle the general list resulted in extensive short covering during the afternoon. Sugars were foremost in the rise. Sales approk- imated 500,000 shares. The closing was firm. The recovery in prices became more pronounced in ‘he late dealings, United States Stecl, Laldwin, American Can, Baltimore and Ohfo and several other leaders showing gains of one to two points on the day. TROPICAL STORM THREAT HITS THE COTTON MARKET NEW YORK, September 26.—The first tropical storm threat of the sea- son as reflected by reports that north- east storm signals had been posted on the southeast Florida coast was followed by an opening advance of 10 to 19 points in the cotton market FINANCIAL j NEW YORK STOCK EXCHANGE® Recelved by Private Wire Direct to The Star Office . Adv Rumley. ... Adv Rumley pf. Ajax Rubber. Alaska Juneau. Allled Chem Am Agr Chem. . Am Ag Chm pf. . Am Beet Sugar. Am Can.... AmCanpf....., Am Car & Fay.. Am Chain (A) Am Cotton ONl.. Anmi Cot Ol pt. Am Druggist... AmH& feapt.. Am Internat’l. .. Am Linseed. Am Locomotive. Am Metals. .. Am Radistor. .. Am Smelting. Am Smelt pt. Am Steel Fdy... Am Sugar. . Am Sumatra Am Tel & Teleg. Am Tob pf (n).. Am Water Wks. Am W W 6% pf. AmW W 7% pf. Am Woolen. .. Am Zine & Lead Am Writ Prpt.. Anacond; Arnold Cy Atchinon Atchison pf. Atlantic Fruit. . Atlantic Gult. .. Atlantic Ref. ... Austin Nichol Baldwin Loco Balto & Ohlo. Balto & Ohio pf. Beth Steel. ... Br Em St1 1st pf Bklyn Edison. .. Bklyn Rap Tran Bklyn Rap T fp.. Burns Bros (A). Burns Bros (B). Butte Copper. .. Butte & Super. Calif Pack... Callf Petrol. Calumet & Ariz. Callahan Zine. .. Canadlan Pao Cent Leath pt Cerro de Pasco. Certain-Teed. .. Chandler Mot. .. Chesap & Ohlo.. Ches & O pf wi. Chi Great W pf. ChiMII&StP... Chi Mil &St P pt. Chi & Northwa. Chi Pneu Tool ChiRI& Fao... Chi R I&P 7% pf Chile Copper-.... Chino Covper. CCCe&stL. Coca-Col Colo Fuel. 3 Columbla Grapk Columbn Carbon Cont Can . Continental Mot. Corn Products. . Cosden & Co.... Crucible Steel Crucible Stl pt.. Cuban-Am Sug. Cuba Cane Sug. Cuba Cane S pf.. Cuban Dom'can. Davidson Chemw. Del & Hu Dome Mines. ... Dupont (E1). Eastman Kodak Elec Stor Bat... Endicott-J pt Erie......... Erie 1st pt Erle2d pf. Famous Players Fed Mines & S. . Fd Mines&S pf. . Fifith Ave Bus.. Fisk Rubber Fleishman Foundation Freeport Texas. Gen Asphalt Gon Baking. Gen Cigar. Gen Electr! Gen Elec spl.... Gen Motors. . ... Gen Mot 7% deb. Gimbel Bres. . .. Gimbel Bros pf. Goldwin Corp. .. Goodrich. ...... Goodrich pt. . Goodyear pt Guantana Sug. Gulf St Steel. . Hanna (M A) pf. Harbisthw Cab. Hartman Corp. . Houseb'd Prod.. Houston Oll.. Hudson Motors. Hydraulic St pf. ! [llino!s Central. Ind Oil & Gas. .. Indiahoma inspiration. .... In Ag Chemical. In Ag Chem pf.. Int Cement. in Combust E Int Harvester Int Mer Marine. Int M Marine pz. Int Nickel...... #nt Nickel pf. intl Paper. .. Intl Paper (sta), Int Tel & Teles. Invincible Oil. 1sland Oil. Jones T Kansas City S Kansas C So pf. Kayser (Julius) Keily-Spr Tire.. today. There was covering and some | K trade buying, but after selling at 28.07 on ihe call December broke to 27.85 during the early trading. or about 5 points net lower, owing t6 continued liquidation. The latter was promoted by reiterated reports of an easier tone in the local cotton goods market and continued uncertainty as to the probable showing of néxt week's government crop report. Liv- erpool did not fully meet yesterday's decline and reported that hedge sell- ing had been readily absorbed by a better trade demand. NEW ORLEANS. September 26.—A nervous market developed in the early trading in cotton today, with the storm in the West Indies finally be- coming the controlling factor. ~Bet- ter cables than due caused small ad- vances on the opening, but almost immediately there was a break under much the same sort of selling that was felt vesterday, October dropping 0-27.37. “Then attention was direct- ed to the storm and its apparent course toward the straits of Florida, and the fear was aroused that it would get into the Guif of Mexico. A charp rally ensued and at the end of the firet hour of trading October Wwas at 27.70, with the list 22 to 40 points higher than yesterday's last Guotation Closing Cotton Quotations. NEW YORK. September 26.—Spot cotton quiet; middling, 29.25. Cotton futures closed barely steady: October, 28.50228.5 December, 28.24a28.27; January, 27.80a27. March, 27.6%a 27.75; May, 21.71. NEW ORLEANS, September 26.— Cotton futures closed steady at net ns of 35 to 43 points. October, 27.91; ember, 27.73a27.78; January, 27.60a 27. gg March, 27.46a27.50; May, 27.32a Spot cotton quiet: quotations revised ; middling 25 points lower. Sales on the spot, 100 -bales; to arrive, 100 bales. Low middling, 26.75; middling, 28.25: good Nddlln?, 28.75. Receipts, 4,950 bales; stock, 72,238 bales, Kresge (58) Lee T & Rubber. Lehigh Valley. Lima Locomo. Loews Inc. . Loftlnc. Louls & Nash. Manati Sugar... Man El inv guar Maracaibo Oil... Market St prior. Marland Oll. Martin-Parr: Mathison Alkil Maxwell (A)... Mclntyre Por... May Dp Stores. . Mex Sea Mex Seabd 6t Miami Copper Middie St Oll Midvale Steel. .. Minn & StL (n). Mo Kan & Tex.. | Mo K & Tex pf.. i Mo Pacific . Mo Pacific pf. Montg'y Ward. Moon Motor Mother. Lod I Nash Motors. ... Nat Biscuit..... Natl Cloak & 8. Nat Condult. ... Natl Dept'Stores Natl Dept Sto pf | Natl Enamel.... Natl Lead. Natl Ry of M 2d. N Or Tex & Mex. N Y Air Brake. . N Y Canners N ¥ Central. NY Chj & StL... NYDock....... Norf & Westerz X Open. High. 7 81% 5% 107% 153% 21% T 22 5% 38% 16% 16% €9 43% 804 56% 101% 39 614 1% T % 6 394 16% 964 87% % 14 108 28% . 113% 51 57 47 58% 107% 324 7 314 Low. 7 i) 5% T 62% 40% %0 134 35% 35 89% 1074 153% 21% 6% 20% R4 38% 16 15% 69 48% 36% 26% 2% 2% 220 16% 60 62% 15% 6l 867 4% 30% 55 82 18% 65 224 28 37% 38% 16% 7 9. 8% 234 4% 28% 1 12% 30% 10% 274 21 2% % 854 6% 58% % - 38% 92 534 117% 2% 84% 36 29 1013 3% 15% 102 2:30._ ¢ 7 i 31% 5% i3 ot 4 P 13% 364 35% 91 1074 155 21% 7 20% 5% 384 16% 16% 69% 484 81% 56% 96 | 35% | 631y 21% 122% 101% 0% 61% 1% T84 | %] 6 394 16% 96% | 8T\ 11 1% 14% 102 28% 114% 55 66% 47 B8% 107 % 324 106 22% 5% 144 8 19 48 4% 142 424% 38% 32 47 61% 98% 9% 16 27 66% 81 23 78 20 63% 15% 61y 86 5% 31% [ 32 18% [ 23 28 371 38% 16% | 7 9 8% 28% | Bl 26% | 4| 12% 308 10% 2% 21 3% E 86% 47 53% ] 381 92 53% 117% 2% 84% 36 29% 102 8% 15% 102% | Raptd Tran S Open. High, 204 21 58l 58% 8% B% 16 16 31% 31% 17% 120% 2% North Amer. ... North Pagific. Nunnally Co. ... Nov Scot Steel. . Ohio Fuel 8up. . Orpheum Circult Otis Elevator. Owens Bottle. .. Pacific Develop. Pac Gas & Elec. Pacific Ofl P Packard Motor . Pan-Am Pete. .. -Am P (B) nsylvanis. Penn Seabd St1. i People’s Ga Peoria & East. . Pere Marquette. Philadelphia Co Phillips Pete. .. Pierce-Arrow . Plerce Ofl Pitts Coa z Pittsbgh Util pf. Pitts & W Va. Produc & Ref. Pub Service. Pullman Co. Punta Alegr: Pure Ofl.. Railwav Stl Sp. Rand Mines Rap Tran Sec pf Ray Con Copper Reading....... Reading 2d pf Remington. Remin 2d pf. ... Rop Ir & Steel. . Reynolds Spr... Rey Tobac (B). Rutland Ry pf.. 8t Joseph Lead. StL & San Fran | StL.&San Fr pf. St L Southwn. .. StL South pt. .. { Savage Arms. .. 3 9% | Schulte Stores. . 1 Sears Roebuck. H Seneca Copper. . | Shell Unlon. | Simms Petrol Simmons. Sinel; Sine Skelly Oil... Sloss-Shaffeld. . So Porto Sugar. South Pacific. Southern Rwy. . Southern Ry, 0?. Spauld A'G pf Spicer Mg Co. . Spicer Mfg pf St Otl of Calff. .. Stand Ofl of N J Stewart-Warnes Strombg Carb. . Studebakers. Submarine Bt Superior Cil 2% 2% Superior Steel. . 2t 24 Sweets Coof A.. i Texas Company 40% 41 Tex Gulf Sulph. 5b% 55% Texas & Pacific. 20% 20% Tex&PC&OIl. 8 8 8 Third Avenue. .. 10% 104 Timken Bearing 34T 35 Tobacco Prod. .. 521 53 Tobacco Frod A. 82% £3% Trans Cont Oll.. 31 841 Twin City pt 95 95 Underw'd(new). 38 38 Unilon Pacific. .. 128 128% Un Alloy Steel.. 30 30 United Ry Inv. . 10% 0% Utd Ry Inv pt 34 35 U S Cast I Pip 30% 80% 32| USCastIrPpf. 784 8% 78% USFood Prod.. 4 4 4 U SIndus Alco.. 52 51% 521 U S Rubber..... 384 3T% 38% USRublstpf.. il 91k 91% U S Steel. . 864 86 874 U S Steel pt. 17% 117% 118 60 59% 597 f 15% 15% 15% 28% 28% 28% 25% 25% 264 28% 271 29% 16 16 16 85 85 85 9% 9% 9% 18% 1% 17% 574 57% 574 58% 58% 58% % ™ % 11 1 1% 22 22 22% 48 47% 48 6% 6% 64 6% 64 6% 64 59% 60% 59% 60% 251 251 250 250 24 28 24 24 10 10 10 10 High. Low. Last. Call Money 5y 6% 5% HOURLY SALES OF STOCKS. 11am.... 185000 12m. .+ 276100 1pm. .334500 Zpm 404 500 e FOREIGN EXCHANGE. September 25, 1922—11 a.m (Quotations furnished by W. B. Hibbs & Co.) Nominal g0l value. . 4,806, 1.00 193 198 0333 ‘238 $10 per billion. BT 0455 T1781 101 14% 89 51 83 824 65 8% 35 3% 95 38 128% 80% 10% 3¢ Vanadium Corp. Va-C Chem pf.. Wabash pf (A). Waldort (new). ‘West Penn pf Western Md.. ... Western Md. 2d. % 22% 43 63 Wheel & LE pf. White Eag Oil.. White Motor. .. Wickwire. Willys-Overld. . Willys-Overl pf. Waoolworth. Worthington. Wright Aere. .. London, pound Montreal. dollar. Paris. franc . Rruksels. franc . Berlin, s Rome, 1 : Zurich, frame . Athens, drachma Madrid, peseta Viemna. crown . Rudapest, crown Prague, crown.. Wersaw, mark. Copeahagen, crown Christiania,’ crown Stockholm,” crown By the Associated Press. NEW YORK, September 26.—For- eign_exchanges steady. (Quotations in_ United States dollars) Great Britain, demand, 4.55 11-16: cables, 16; sixty-day bills on banks, 4533-16. France, demand, 0620: cables, .0620% . Italy, demand, .04581% cables. .0459. Belgium. demand. .053015: cables. 0531, Germany, de. mand. ,0000000082; cables, .0000060082. demand, .3929; cables, .3934 demand, .1585; Sweden, de- , 3649 Denmark. demand, .1787; Switzerland. demand, .1780; 'Spain. \1398; Greece, demand, .0169; Poland. demand. .003%: Czechoslovaki, de- mand. .0301: = Jugoslavia, demand, .0115; Austria, demand. .000014; Rumania, demand, .0047% ; Argentina, demand, "3360: Brazil, demand, .0975: Montreal, demand, .97 29-32. WALL STREET BRIEFS. NEW YORK, September 26.—Nego- tiations for a $6,000,000 loan to the republic of Salvador have been con- cluded and the bonds are expected to be offered in October. It is_understood the bonds will carry an 8 per cent coupon and mature in twenty-five years. Dispatches from Japan tend to con- firm reports in Wall street that nego- tiations looking to a loan of probably $100,000,000 to aid in Japanese con- struction are progressing satisfac- torily. The plan is to issue two series of bonds, each bearing 5% per cent interest, one issue to run for twenty years and the other for forty vears. .The American Shipbuilding Com- pany reports surplus of $765,114 for {the year ending June 30, 1923. This is equal, after preferred dividends, to $4.82 a share on $14,714,400 common stoek outstanding, and compares with $1.490,448, or $7.21 a share, in the pre- vious year. NEW YORK DAIRY PRICES. NEW YORK. September 26.—But- ter—Pirmer: receipts, 7,095 tubs. Eggs— Irregular; receipts 13,585 cases; Pa- cific coast whites, extras, 53a56. Cheese —Firm; receipts, 134,627 pounds. WOO0L MARKET QUIET. BOSTON, September 26 (Special). Aside from a general retai] business of fair proportions, the wool market has become rather quiet. Some busi- ness is being done with woolen mills, but the worsted mills are not buying. On the whole, sales are materially less than they were two weeks ago. . Yesterday's receipts at Boston were 7% bags of domestic wool. {than the French issues. BOND QUOTATIONS TURN DOWNWARD Speculative Rails, Industrials " and Foreign Issues Sell at Lower Prices. BY GEORGE T. Hpecial Dispatch to The Star. NEW YORK, September 26.—The bond market turned definitely weak today. There were a few exception but the general rule was lower prices. In the case of the high-grade rails and industrials, the losses were only fractional, but some large blocks were reported for sale, whether for the account of institutions or individ- HUGHES, | ual investors could not be learned. In the United States government list the third 4%s were strong under what was apparently government buying. The tax-exempt 3%;s went lower. Low Priced Rails Heavy. Speculative rails were heavy. Trad- ing was light and therefore the un- derlying condition was not so evident as in the case of the speculative utili- ties and industrials. Hudson and Manhattan refunding 5s and incomes continued in supply not withstanding the favorable earning statement pub- lished today. New York and Richmond Gas 6s, of- fered in July, 1922, at 974, sold down below 85. Third Avenue adjustments were also lower. There was heavy trading in the Rapid Transit securities 6s at fractionally declining prices. Among the industrials Ajax Rubber 8s made a new low record, as did American Chain 6s. Of the rails the B. & O. were firm. and the Eries and Si. Louis, San Francisco Junior issues held very well Foreizn B React. Foreign bonds reacted with the rest. In the case of the French obligations, the surrender of the Germans appeared to be pretty well discounted. Central European bonds held relatively better The Czecho- slovak 8s sold at their recent high, and at one time the City of Greater Prague 7%s made an advance. he strongest feature among the for- eign bonds was the City of Tokio 5s, which had a rather sharp run up. Other Japanese issues likewise were a little higher. Heaviness in Brazilian descriptions was again evident. New Offering Expected. 1t is expected that a $6,000,000 loan to the Republic of Salvador would be offered early next month.- The bonds will run for about twenty-five years jand carry an 8 per cent coupon. For today’s pessimistic feeling there Wwas no new reason given. It probably represented the reaction of bond trad- ers and investors to the same influ- ences working in the stock market. Offerings of several of the motor stocks came upon the market at re- cessions of a point or so. It is be- lieved in some quarters that the auto- mobile industry is running Into a period of overproduction and this ac- counted for the indisposition of the public o come into the market for these stocks. Cleveland declined a point to 26, while Peerless sold just above 34. Durant of Delaware came oft with the rest. but later rallied to 30 on short covering. Oils were firmer, but dealings were without feature. Prairie Oil and Gas and Prairie Pipe Line, selling ex the $2 dividend. were active, the former more than making up the amount which came off the stock. Standard of Indiana was unchanged most of the day. B. & 0. RESUMES COMMON DIVIDENDS Directors Vote 1 1-4 Per Cent Quar- terly Disbursement at To- day’s Meeting. By the Associated Press NEW YORK, September. 26.—Di- rectors of the Baltimore and Ohio railroad today resumed payments of dividends on common stock, declar- ing a quarterly payment of 1% per cent. A quarterly dividend of 1 per cent on preferred stock also was declared. RAIL MERGER FAVORED. B. & O. President Urges New Eng- land Lines’ Consolidation. BOSTON, Septemher 26.— Daniel Willard, president of the Baltimore and Ohio railroad. strongly favored a consolidation of all New England railroads, including the Boston and Albany. the Central Vermont and the New England lines of the Grand Trunk and the Canadian Pacific. in speaking before members of the In- terstate Commerce Commission at a hearing here. Mr. Willard reiterated his opposi- tion expressed before the commission Jast May to one of its tentative con- solidation plans, whereby the Balti- more and Ohio would take over the New York, New Haven and Hartford rallroad. He remarked that if the New England roads demanded a greater share in the rate divisions for through traffic, they ought to re. duce their operating costs and in- crease local revenues where possible. If the Baltimore and Ohio were left out of a trunk-line merger of the New England roads it would probably withdraw the representatives now so- liciting business in New England, he said, suggesting that his proposed New England system could utilize certain watorways, motor truck and trolley lines for short hauls, on which they were certainly now losing money. GENERAL BUSINESS NOTES. ST. LOUIS, Sentember 26 (Speclal). —Loans and discounts of the St Louis clearing house banks have in- creased nearly $12,000,000 since June 30, while depasits have fallen off over $2,250,000. This decrease was con- fined largely to small outlying and suburban banks, as the larger dow: town institutions showed an incre: of $1,809,684.03. DETROIT, September 26 (Special). —Building permits issued here last week entailed expenditure of $2,983,- 000, as compared with $1,639,000 the previous week and $2.980.000 for the corresponding week of 1922. ATLANTA, Septembér 26 (Special). —The severe building restrictions em- bodied in the new code just adopted are not expected to affect the volume of construction work this year. Speai- fications for the majority: of the Jarger projects have been well within the regulation: SUGAR PRICES HIGHER. NEW YORK, September 26.—There was another advance of % in the local raw sugar market today, with Cubas selling at 5% cost and freight, equal to 7.66 for centrifugal. There were saies of 5,700 bags of Cubas for first week Octgber shipment. The continued strength in the spot market and a_growing belief that re- maining supplies in Cuba.will prove barély sufficient to meet requirements pending the new crop movement led to renewed buying in raw sugar fu- tures. ‘ BAR SILVER RATES. LONDON, September 26—Bar sil- ver, 31%4d per ounce. Money, 23 per cent. Discount ‘rates—Short bills, 3 per cent; three-month bills, 3 1-16 a3l per cent. NEW YORK, Septembar 26.—Bar silver, 64%; Mexican dollars, 49%. ON NEW YORK (Fractions represent Exam)| BONDS stocx excaunez | Received by Privatg Wire Direct to The Star Office. (Bales are iz $1,000.) UNITED STATES BONDS. thirty - seconds. ple: 98-3 means 98 3-32.) Sales. High. 9925 98-1 98-5 98-5 - 98+29 98-6 99-23 FOREIGN. Lib4th é}4s.. 49 US4ys1sl Argentine 7. Austria 7s. Belgium 7%s. Belgium s Belgium 8s. .21 40 17 5 - 10 .21 Canada 5%s 1929. . Canada 5s 1931 Canada bs 1952 Chile 85 1946. . Chile 85 1921 Chile 83 1941. . Chile 75 1943, Christiania 8 ll:onsnhllcn bigs. . Cuba 5%swi ! Denmark ss. Denmark 6s. Dutch £ 15%, Dutch East T i Dutch East I Framerican 7 French Govt 7% | Hatts € e | Holland-Amer Japanese 1st 41 Japanese 2d 4348 Japanese 4s. {Jergen UM | Lyons Marseliles 6s i Mexico bs. | Mexico 4. 1% 8% ki 81% 81 52% 31% 874 10% 961 951 4% % 1% 91 96 874% 67% e l’%u 6a% 101% 102 Rio de Jan 85 1946. Rio de Jan 85 1947 | Sa0 Paulo.City.8s. . Seine, Dept of. 7s. . | Serbs Crotes 8o 88 | Sotssons & Tokio bs .. 68 Ud Kingm 5%s°37. 13 Uruguay s o, Ajax Rubber 8s.... 2 Am Agr Chem 7%s 11 Am Chainsf 6s'33. 2 Am SmIt&R 1st bs. 2% 99 92 901 AmT&Tecltrés. . Am Writ Paper 6s. Anaconda cvdb 7s Anaconda 1st 6s Armour & Co 4338, Atlantic Refin 5s. . Bell Tel Pa ss. ... Beth Steel s f 6. .. | Brier H St 1st 5348 Bklyn Edison 73 D Bkiyn Ed gen 5s.... Bush T Bldg 5580, Central Leather 58 Cerro de Pasco 8s.. Chile Copper & Commonwth P és. . Con Coal Md 1st 53 | Cuban-Am Sug $s. | Cuba Canecvd ss. | Cuba Cane v 78 "30 { Dery (DG) Ts { Det Edison ref 6 Donner Steal Du Pont de N 715s. Duquesne Light 6s Est Cuba Sug 7%s. Empire G&F T%s. . Fisk Rubber 8s. Gen Elec deb 53 Gen Refractres §s. Goodrich 6%s. ... Goodyear $s 1931. . Goodyear 88 1941, Hershey 6s 194! . Humble O&R 5%s. Illinols Bell 1t 5. ! Indiana Ste % | Int Paper KCP&Lt Kayser (J) < Lackawa 8 68 50. . Liggett & Myrs 7s. Magma Cop cv Ts. . Manati Sug st T%s Mer & Mfg s £ Ts 42 Mexican Petrol 8s. Midvale Steel 58 { Montana Power Morris&Co 1st 4348 New Eng Tel b N Y Edsn 1st 6% NYG EL H&P bs. NYG UL H&P 4s NY Tel 68 ‘41 NY Tel 63743 iNY Tel ¢%s. N Am Edison 6 Nor States Pow b Nor States Pow 6s. . Northwst B Tel 7s. Otis Steel 7%s. o P T T L - e R T I L T - T T L=y Pan-Am Pete 7s. Phila Co ref 65 A Phila Co 5%s'38 Producers & Rt 8s. Public Service Punta Alegre 7s. .. Sinclair Oil 7 : Sinclair Oil 6%s... Sin Crude Oil 6s. . . Sin Crude Oil 5%s. Sin Pipe Line 5s. .. South Bell Tel 55. . So Por Rico Sug 18. Steel & Tube 7s Sug Est Orient 7, Tenn Elec Pow 6s. Tobacco Prod sf7s Unit Drug cv 8 U'S Rub st 1t U S Rubber 7 U S Steel s £ 5 Utah Pow & Lt 6s. Vertientes Sug 7s. Va-Car Chem 7s Va-Car Ch T%s w. ‘Warner Sugar 7 Westinghous: Wickwire Sp Wilson & Co Wilson&C v THE. Wilson & Co cv 6s. Winchester A 7348. Youngstn S& T 6s. 12 R ) Fheleoltavmeilumae FI=TTTS Sales. High. Tow. 1 98-2 98-3 98-3 98-26 98-28 8-3 98-5 99-21 99-23 Close. 99-21 99-21 98-1 98-2 Low. Close. 101% 884 100% 961 102 108% 8T% 80% 8% 94 oL 9% 98% 3% 83 92 1 78 8 8% 80% 524 317% 97% 1104 964 %Y 4% 1% oy 90% 26 87 674 83 104% 121 68% 101% 102 MISCELLANEOUS. 92 96% 92 904% 1004 1013 116 974 92 60 99% 96% 84 97 97% 975 9314 108 614 91ty o7 120% 984 86 8614 106% y214 87% 7% 102% 8975 108 103% 99% 92 102% 101% 98 994 101% 116 9% 4% 3% 9974 84 59% 10435 88 18y 103% 977 105 102% 6 95 78% 9T 109 9714 82% 104 105% 935 93 90% 99% 107% 924 1025% 99% 901 1015% %0 109 9234 857 waw o5 01 93% 100 105 954 98 1045 111% 364 106k 101% 88% 26% 88y 70% 102% 107 95 95% 9 26 1034 99 ————— BOSTON STOCK MARKET. 101% 88% 101% 96% 102 108% 8% 804y 8% 94 1% 9% 98% 103% 103 104 94 108% 89% a1 94 108% 96 % 96% 6% 898 9% 95% 0% 83 924 a1 kil 8 81% 80% 52% 31% 97% 110% 96% 951 4% % 1% 96 874 67% 834 104% 112% 684 101% 102 224 99 92 904 101% 80 8614 94%, 95% 0% 937% 100% 105 9% 93% 104% 111y 86% 106% 015 88% 96% 8% 0% 102% 107% 95 96 96 85% 1033 9% BOSTON, September 26.—Followin, lowest an is a list of today's highesi cle dealt in here: Boston-Elevated Calu &-Ariz Calu & Hecla Conpor J T High. s 47 2 0%, Island Creek p Libby McNeil & Michigan Mohawk Natjonal Pacific il Quiney . Shoe Mach Shoe Mack pfd . |Ewitt & Co. Swift Inter . ng prices for the most adtive stocks PARIS, M{fi_flmbor 26.—Prices were firm on the cent rentes, ourse today. Three per 57 francs -40 centimes. Exchange on London, 74 francs. Five 75 francs 45 T 19 centimes. cent loan, centimes. dollar was quotéd at 16 francs RAILROADS. Sales. High. Ann Arbor ¢s 55% Atchison gen 1% Atchison adjds.... 17 79% :ll:suc CL1st4s. 12 84% prin3ie... 18 95% B & O gola ‘.“ 146 79 oo 100% 824 s 6% 23% 66 88 884 Canadian North 7s. 18 Canad North 63s.. 17 Canad Pacdeb 4s., 24 Car Clinch & O 6s.. Cent of Ga . Central Pacific 4s. Ches & Ohio cv by Ches & O cv 4348 Ches & O gn 434s. . Chi B&Q gn 4s'5! Low. Ulose. B5% 55% 8T% BT% 8% . 18% 84y B4% 95% 78% 79 100% 8l 83 5% 93% 644 88 884 112% 1% i 96 100 86% 86% 86% 82% 83% 8% 76 L 3F | Chi M&St P 4s 25, %% ChiM&S Pcv 4 56% gnés.. 3 ChiRI& Pacrfds 9 Chi Un Sta 4%s..,. 2 !l'Ml.W!m‘ll:n(l. 2 1 CCC&StLrf6sA.. jCleve Term 543... Cuba R R b Del & Hd 1strfds. 1 Del & Hudson 5%s 13 Den & Rio G en 4s. D & Rio G imp Bs.. D&RG1istrf s Det United 43 Erle 18t con 4s. Erle gen ¢ Erie conv ErieconvisB Erle conv ésD. 101% 101% Uy 834 98% 71 83% a2 86% 574 8% 52% 524 56 103% 2% | Gr North gen 7s...112 1064 Gr North gen 5%n.. 24 Green B& W db B. 16 | Hud & Man ref 58." 20 | Hud & Man ay 5 11l Centrai ref 11 Central 53, Int Rap Tran Ss. .. Int Rap Tr 5s stpd. 37 Int Rap Trai 4 Int Rap Tran 1, Int & G Nor aj Int & G Nor Ist 5. lowa Cent rf 4 Kansas City S §s Lake Shore 48°23.. Lake Shore 48 '31. - WmSamnom— S Roromwnne Mo Pacific 6s....... Mo Pacific gn 4s. .. NOTex &M in 5s. Y Cent gen 3%s. N Y Centdeb6s... NYCentribs N Y Cen LS cl 3% N Y Rysadj6sct..-10 NYW&Bos4%s. 3 Norfolk & W.cn 4s. 7 Northern Pac3s... & Northern Pac 4 orthn Pacr i Northern Pac bs Ore & Calif 1st & Ore Short L et 4s. Ore-Wash 1st rf 48 Pennsyl gen 58. ... Pennsyl gen 4348. . Pennsyl 6% Pennsyl gold Pere Marq 1st 55 Rapid Tran 6 Reading gen 4s. . StL&SFplisA. StL&SFincés StL&SFG5%sD.. StL&S Fadj StL&SFplésC.. StLSW Ist4s © e 73 N 72 2% 384 90% 59% 53y 104 92% 99% 924 8% 29 B8, 107% 108% 3% 66% 6% 6% b 89% T3% 05% " 5% Grain, Produce and, Live Stock LOCAL WHOLESALE MARKET. gs—Strictly fresh, selected. can- m':. per dozen, 42; average receipts, 38;. storage, 32233, Live poultry—Roosters, per 1b., 1 turkeys, per ib., 32; spring chickens, per Ib.. 27a30; keats, young, each, 50a 60; fowls, each, per Ib., 24a26. Dressed poultry — Fresh killed spring chickens, per 1b.. 34a38; roost- ers, per Ib., 30a35: hens, per lb., 32; turkeys. per Ib., 40a42; keats, youns. each, 70a75. Live stock—Calves, choice, per 1b., 11%; medium, per Ib.. 10ail; thi 1b,. '6a7.” Lambs, sprin g pls, 3.00a5.00 each; Green fruits—Apples, new, per b ket, 50al.75. California oranges, p crate, 500a6.50; Florida, 3.00a6.0 Lemon 50." Grap: per crate, 1.00a1.50. .50a2.75; Colorado standards, 2.00a3.00; flats, 762 Vegetables—Potatoes, per bbl., No. 400a4.50; No. 2, 2.00a2.50. ~ New Jersey potat round, per bag, 3.76a 400; New Jersey, giant potatoes, per bag. 3.00a3.25. New sweet potatoe. 3.50a4,00 per bbl. New York lettuce, per crate, 75al.75. Cabbage, north- ern, 2.50a3.00 per 100 Ibs., nearby, 1.50 21.75 per bbl. Eggplant, per craté, 1.00a1.25. Tomatods, %-bushel bas- ket, nearby, 4la75. Beans, 2.00a3.50 Der bbl. New York celery, per crate, 4.50a5.50. Squash, 76a1.50. Peppers. per crate, nearby, 50a60. Kale, per bbl, 75a1.00. Spinach, per crate, 50a1.00. Home-grown lima beans, T quart, 20a35. New York cucum- ers, per bushel. 2.00a3.00. Suzar corn, per dogen, 10a25. GRAIN AND PROVISIONS. BALTIMORE, Md., September 26 (Special). —Potatoes, ~ white, _ barrel, 1.25a4.50; 100 pounds, 75a2.50; 150 pounds, 3.00a3.50; sweets-and yams, barrel, 1.00a3,00; basket, 25a50; beans, bushe] 00a1.25; lima beans, bushel, beets, 100, 3.00a6.00: cab- . :4.0028.00: carrots, 100, 4.00 : califiower, hamper, 3.50a3.75; celery, dozen, 35a75: corn, dozen, 15 a30; cucumbers, basket, 1.00a2.50; eggplant, basket, 35a40; lettuce. crat: 75a2.25; onlons. 100 pounds, 2.00a3.7 peppers, ket, ; squash. ket, 15a25; spinach, basket, 40a50; to- matoes, basket. 49a55; packing stock, bushel, 60al.00; turnips, basket, 50. Agwlen barrel, 1.50a2.50; bushel, 50a 1.2 ket, 20a40; cantaloupes, cranberries. basket, 50 sket, 60a70; damsons. bushel, 1. peaches, bushel, 1.00 23.00; "basket, 50al.00: pears, bushel. 1.5023.00: backet, 15a%5; watermelons, each, 10a25. Settling Prices on Grain. Wheat —No. 2 red winter, spot, : No. 2 red winter, garlicky, spo g No.. 3 red winter. garlicky. spot, 1.00%; No. 4 red winter, gar- licky. spot, 96%. Sales — Seven hundred and four bushels of sample grade winter, gar- licky. at 86. Cargoes on grade of No. 2 red winter, garlicky. at 1.02 Corn—Cob. new. 5.10 per barre . 2 corn, spot. no quotations: track corn. yellow. No. 2 or better, 1.05. Sales—None. Oats—No. 2 white, new, 49% and 43; No. 3 white, new. 47 and 47%. Rye—Nearby. 75a85 per bushel; No 2 rve, spot, 79% per bushel. Hay—Receipts, 104 tons. There is fair demand and is centered entirely on the better grades of timothy and 1ight mixed hay at 23.00 to 27.00 per ton. The Pennsylvania railroad em- bargo on shipments to Baltimore is atill on. Demand for the bettér grades of timothy and light mixad hay at a range of 23.00 to 27.00 per ton, with general receipts lighter, due to the embargo in force on the Penn- sylvania lines. Poor grades of hay are low sgle and of irregular value. Straw ~ No. 1 tangled rye, 15.00a 16.00; No. 1 wheat, 12.50a13.00; No. 1 oats, 13.00214.00. DAIRY MARKE BALTIMORE. Md., September 26 (8pecial). — Poultry — Live, spring chickens, 23a27; leghorns, 21a23; old hens. 18a26: leghorns, 18a. old roosters, 15a16; ducks, 17a25; pigeons, pair, 20a25; guinea fowl, each, 40a65. Eggs—Loss off; native and nearby, firsts, doz.. 38; southern, 36. Butter—Creamery, good to fancy, prints. 47a49; nearby creamery. 35a40: ladles, 34a33; rolls, 31a33; wtore packed. 30a3l; dairy prints, 31a33: process butter, 38a39. TODAY'S CHICAGO PRICES. CHICAGO, September 26 —Influ- enced by reports that European pur- chasing of wheat yesterday on this St LS W con 4s'33. Seab'd AL ds . Ba% 44% 29% 6415 % »5 814 2% 67% 100% 50 Y0 1% 95% 108 98y 53% Seab'd A Ladj 5s.. Seab’d A L con 6: Sou Pacific 45 1929 Sou Pacific ref 4 Sou Pacific clt Southern Ry 1st Southern Ry gn ¢s. Southern Ry 6% Third Ave adj 58 Union Pac 1st 48 Union Pac 1st rf 4s Union Pacevés... Unlon Pac cv 6 Virginia'Ry 1st 68 Western Md 4s.... Western Pacific 65 78% ‘West Shore 1st 4s... % TOTAL SALES (Par Valve] i1am.. 2137000 12noon 3940000 1p.m.. 4738000 2p.m.. 5357000 September Computing Tab. Rec, Co.. Qv | Okia. Natural & McQuay-Norrie. @ September 27— teck Steamsiip 1st DL.. @ - Tol. & Tel. q.... Westmoreland_Coal. 7. September Awo 01 Tora, g Barnet Leather a uk Bros. 1st pf.. @ s Bt FARR SRR €. €. Colorado Pr. Co.. Commercial Solveats ist pf.. q Tilinots Bell Tel.. q. Kansas City Southern pr. Kayser, J. & Co, pf., Q. Mex. Pet. Mex. Pet Midwest Ui, Natural Fuel Gas N. Y. Centra Niagira Falls : Ohio Fuel Supply, q. yenn 2333 i, pt.. ot . Co. DI.. Pan. Am. Pet. and Tran: Pan. Am_ Pet. and Tr side of the Atlantic totaled almost 2,500,000 bushels. the wheat market here averaged higher in prices today during the early dealings. The fact that the Winnipeg market was firm despite liberal receipts counted also as a bullish factor. Besides, Wash- ington dispatches telling of various plans for farm relief attracted con- siderable _attention. Opening prices. which varied from % cent decline to % cent advance, with December 1.04 to 1.04% and May 1.09% to 108%. were followed by moderate gains all around. Corn' and oats were firm with wheat, and September corn touched a mew high price record for the sea- son. After opening at % cent off to 3% cent up. December 63% to 70 cents, the corn market held inside of narrow limits. Oats started unchanged to % cent higher, ~December 411, and later steadied a above yesterday's finish. Lower quotations on hogs ened the provision market. WHEAT— Open Low. September ... 1.02i; 103 Dios 104 L 1.00% 108y 8915 8915 ‘a97y 69! 4 ot little weak- Close. September ... December . May OATS Scpiember 01, i A3y 1162 January 10,50 RIRS— October ........ 8 X 3 Jauuary 9.40 WOULD HALT NEW SUITS IN PIGGLY WIGGLY CASE By the Associated Pre MEMPHIS, September 26.--Federal court proceedings Incidental to re- ceivership procesdings instituted by Clarence _Saunders, former Piggly Wiggly executive, against the “Pig- gly Wiggly Corporation, and demands made by the corporation for an ac- counting by Saunders, took a new Dited Alloy Bteel. o U, 8. Ind, Alcobol pt Victor Taiking Machine, Victor Talking Machige Westinghouse Alr Brake Co. Westinghouse Electric & M We ouse Electric & White Eagle Ofl & Ref., q te TREASURY CERTIFICATES. (Quotaticns furnished by Bedmond & Co.) December 15. 1623, B 15, 1024 ecarbacann NEW YORK, September 26 (Spe- clal).—The downward movement in raw silk quotations which started with reperts from, Japan of prices far. lower than had been expected after the - disaster, apparently had been checked today. The market was firm, on light trading, at prices which turn_late vesterday with the filing by C. L. Marsilliott, masten in chan- cery, of an interlocurtory report rec- ommending the issuance of an order restraining the institution of further litigation for the present. Mr. _Marsilliott also recommended that Piggly Wiggly Stores, Inc., be made a party to_the pending proceed- ings. ! SHORT-TERM_SECURITIES. (Quotations. furnished by Redmend & Co.) —Noon.— | Bia 2y 108 "a 100l 1001, | 11 164 ik o Slore o3 81 i Ofter. 102 108¢ 98 Aluminum C5 of Amer. Ts 1925 Alumisum Co. of Amer. 7s 1933, American Cotton Oi} 6s 1924. American Bugar 83 1037. American Tel. & Tel. 6 1924 . American Tel. & Tel. 8s 1925 nda C 1920, Central Argentine Teather 5 1 g0 el Pont Tl4s 1931 Dadrel Sagss Ret, o g Fisher Body Corp. 6s 1! . T SR se11. ar T &R, v jorthern 7s 1036, Hocki g Valley 6 1024, Humble Ol § s 1832, Kansas 'C erm. 8 . : F . T3%s_1980. prevailed Tuesday. Cotton goods trad- ing again was light, but prices re- mained firm.. Quotations in 64 by 60 print cloth were 10% cents and on 8 by 73, 13 cnts. Prairie Ofl and Gas, q Prairie Pi g Standard Gas and Electric. q. Teunessee Copper & Cb.. q ars, Roebuck Seatari O of Gally. ot 1023 Bwirt & Co. 5s 1982 on T Cat e, 1805 g . Rubber 7 101% | tions. BANKING INSTITUTE OPENS OCTOBER 10 Report Made in Receivership Case—Bonds Feature on + Local Exchange. The 1923-24 season of the Washing- ton Chapter, American Institute of Banking, - will be ushered in Oc- tober 10, with the study of commer- cial law, it was announced this morn. ing by H. W. Burnside, chairman of the educational committee of the local body. Thereafter, the thres courses, elementary, standard and advanced, will be conducted, classes being held on Tuesday, Wednesday Thursday and Friday evenings at & o'clock at the chaptér rooms, Masonic Temple. The elementary course will be given on Tueadays, the first year of stanUard course on Wednesdays, the second year standard on Thursdays and the new course on credits will be held Friday The credits course is inaugurated this year as the first step towards the establishment of the advanced course, in process of development by the natlonal organization. This study will be taught by a bank credit ma with thorough knowledge of the sub. ject. and will be shaped around a new textbook recently published by the institute. It will be open to grad- uates of the standard course. bank officers and senior bank elerks. In addition to the regular dues the tultion covering this course will be 315, payable upon enrollment. Instructors for the ensuing term include Francis G. Addison, jr.. vice president of the Security Savings and Commercial Bank; 1. H. Thomson publicity manager of the Washington Loan and Trust Company; Raymond B. Dickey, District Bar Association F. J. Donohue, professor of economics at ‘Catholic University, and Carl \ Starkloff, credit manager of the Drovers ' and Mechanics' Bank of Baitimore, A “get-together” meeting will be held on Tuesday, October 9. at which meeting chapter activities for the coming vear wil be outlined. Also certificates and prizes will be award ed last year's students, to be followcd by dancing. Reports Receivership. A report on the progress beinz made by receivers for the Cleveland Discount Company was made last night to local stock and bond holders by William H. Hopple. Mr. Hopple ix president of the company and also of the Union Discount Company. a pro- tective organization formed by the on + |stock and bond holders after the fail- ure of the Cleveland Company. The Union Discount -Company is buying in the liquid assests of the de- funct company, which supplies the Cleveland Discount Company. to re lease other assets. So far the plan has proved a success, it was and indications are that the bon holders will be paid off in full ar that there will be a substant amount left over for the stockho ers. The Union Discount Companv has an authorized capital cf $3.000.000. of which about $1.600,000 has becn s scribed. Mr. Hopple was former the largest stockholder of the Cleve- land company and became its presi- dent after the failure. B. & O. Meeting Late Today. Directors of the Baltimore and Ohio railroad will meet this afternoon at New York, and it {s understood the resumption of dividends on the com- mon stock of the company will be discussed. The report of the directors after the June meeting Intimated that the dividend probably would be restored before the end of the year. Earninzs of the company have been very good this year. but the financial district does not know whether to expect any dividend action today or in December Bank Declares Dividend. Directors of the Washington Me- chanice’ Savings Bank have declared their regular quarterly dividend of 4 per cent, payable October 1 to stockholders of record September 30, 1923, Local Exchange Trading. Bonds monopolized the relatively light session on the Washington Stock Exchange this morning. Capital Traction 5s were in demand at 94, $11.500 selling figure. while $2.000 City and Suburba 58 brought 80. Fives of the Che peake and Potomac Telephone pany changed hands at 96% On the stock side, Capital Traction was off slightly to 99%. but Riggs tional Bank rights strengthened fo %. Gas was firmer at 438% and —_— ceiver of the bankrupt Par and Paper Company. to accept offer of $337.117 by a group of Ne York bankers headed by C. W Weston for the unmortgaged assets of the company. The same group of bankers had previously purchased the real estate of the company, which has holdings in West Virginia, V ginia and North Carolina with estimated value of $2,000,000 CHICAGO LIVE STOCK. CHICAGO. September 26 (United States Department of Agriculture).— Hoge—Receipts, 28,000 head: mostly 25 cents lower than Tuesday's aver- age; good and choice 180 to 300 pound averages, 8.15a8.30; ton. 8.35; bulk desirable 140 to 160 pound 7.50a8.00; packing sows, choice weighty an killing le—Receipts, 14,000 head; very fed yearlings, early, 1025a some good light heifers, 9.75: canners, 2.7523.00; cutters, 3.10 and above; vealers sharply lower, pack- ers bidding 12.00 mostly. Sheep—Receipts, 26,000 head; kill- ing classes, steady to easier; top western lambs, 13.50; choice natives, bid, 13.50; bulk desirable nati 13,00a13.255 culls, 9.00a9.50; fat ewes, 5.5026.50; heavy nati 4.0024.25° feeder trade active, strong; v good 60-pound feeding lambs, 13 N. Y. VEGETABLE MARKET. NEW YORK, September 26 (Special) —The market was slightly weaker for ripe tomatoes today due to increased re- ceipts and the lack of quality, which caysed a less active demand. Several carloads from Albany county in bushel baskets sold from $2.50 to $3.00, while 24-quart baskets brought from $1.50 to $200. A carload of California_toma- toes, in lugs containing 30 pounds, sold at _$800 for best stock. The demand for fancy cucumbers and pickles was fairly active, but stock of this kind was in very limited supply from all up state as well as nearby se Sales ranged from $2.00 to $3.00 per bushel basket for cucumbers. whereas dims sold from $2.25 to $2 Prices for state lettuce were very ir- regular because of the very wide range jin quality and condition of the arrivals Fancy, clean, well headed stock held steady, wheréas poor, to ordinary ‘was practically neglected.” Crates containing about two dozen heads sold from 3sc to $2.50. Pacific coast iceberg lettuce brought from $3.00 fo $4.50 per crate of three to four dozen heads. Fancy, large sized, well colored red and yellow omions were in very small proportion to the bulk of the receipts The early morning demand was rather light, which resulted in a dull market. A few sales of Orange county reds were made at from $3.00 to $3.35 and vel- lows from $3.00 to $3.65 per 100-pound sack. The market.held steady for fancy. well blanched, large sized carrots. Rough in two-third crates sold from $225 to $2.75. Several Maine cobbler potatoes in 150-pound sacks brought from $2.75 to §3.00 -for No. 1 stock. carloads of . “‘ J |