Evening Star Newspaper, September 29, 1923, Page 14

PRICES GO LOWER INSTOCK MARKET Studebaker and American Woolen Hit New Lows. Rally in Final Trading. By the Associated Press. NEW YORK, September 29.—Specu- lators for the decline succeeded in bringing about another sharp reaction in today's half-holiday session of the stock market, but an irregular re- covery took place before the close. Motor and motor accessory shares were hammered down one to three points, and the tobaccos fell back on profit taking. The rails, oils, Bald- win and United States Steel held relatively firm. Several weak spots were uncovered among the specialties, Burns Broth- ers A dropping to a new low price for the year. Studebaker and Ame: ican Woolen also touched new low: although the latter made up its lo and moved to higher ground befo the close. Corn Products also ral- lied strongly. The closing was irregular. approximated 400,000 shares. SCORE NEW LOW LEVELS. Sales Hardest Drive of Session Against Motor Stocks. BY STUART P. Bpecial Disps NEW YORK, stock market today went lower at the start under another sharp at- tack against the motor and alliel shares. " In the later dealings it ral- lied for the most nart very eas’ly. Evidently little real stock brought ‘out on the early drive and traders, seeing this, were glad to cove During the weak @pell in the fir half hour new low records were made in Studebaker. American Wool, American Bos'h _ Magneto, Kelly Springfield, k Rubber and Burns Brothers. ' Stewart Warner broks very sharply and other of the mots parts companies’ shares were under pressure in ving degrees. Kelly Springfield weaker than the rest of the rubber group. although these were well down toward their bottom points for the vear. Mystery in Heavy Selling. In connection with the selling of the stocks Interested in the automo- hile industry the strest had no further exnlanation except to assert that production has been excessive Made WEST. “nd that this would be demonstrated ! in duc time by further price tings. This is merely the view of the professionak speculator. So far it does not represent the declared view in the motor trade itself. it was noticeable that other leaders like Baldwin Locomotive and Ameri- can Can no longer were disposed to follow S aker. Even while the latter was making its new low record these companion stocks were weak, and in the second and final hour, re- bounded readily Railway Outlook. Not disheartened by the persistent indifference of r: ¥ shares to good news in the e of record car load- ings, highly favorable earnings, con rarisons and dividend declaration there are some few who remain faith- ful to the bull side of th After noting the belief that other roads. in the near future, will follow the example of Baltimore and Ohio. and that “certain rail dividends are lkely to be increased or augmented <tra payments.” one of the large in its letter today, says: s multiply that sentiment through the country. and even in Congress favors moderation in plans to amend the railway s. Rate ad- justments should be easily and volun- tarily_affccted. Traffic will stand them.” cut- Cuba Cane Sugar. The final chapter in the remarkable recov of the Cuba Cane Sugar Company appears with the statement to holders of the 8 per cent con- vertible debenture bonds that their subordination has ceased and that they now rank as high as the Ts. Two years ago, in desperate need for money, the management asked the holders of the 7 per cent bonds to subordinate their lien to a $10,000,000 cash loan. In return they were to receive a new issue paying 8 per cent. Most of the holders consented, and turned in their bonds for conversion. Some did not, and this minority now finds that it is no better off than the majority o far as security cerned, while receiving 1 per cent less in interest. Cuba Cane’s earnings for the fiscal year are officially estimated at $12,- 0,000. TODAY'S DAIRY PRICES. creamery extra first : ipts, S.361 cases; firsts, 4; ordinary firits, 25a26. Temperament Only Temper. From tlie Rosion Transeript. Artistic temperament is nothing but temper, in the opinion of Miss Blanche Colman, head of the art de- partment of Boston University. “We must have earnest workers for art,” declared Mis Colman. “We must_get back to study and empha- size the fundamentals. =~ Seeing again the old masterpieces this summer wius like meeting old friends who were somehow new because of ~the richer background of experience. The work of these masters fmpressed me anew that we must express things @ an economy of effort. We have en working too much for effect in art and must get back to the es- sentials. “Having the university with its broad cultural background back of this art department helps to give the program of art a certain strength and report. No real artist works with his hands alone—he must have a background. He must not only | n to draw and paint, but must have an enlarged education in the history of art and literature of the great nations of the world.” In order to aid the students in gaining a knowledge of the countries which they are to study, Miss Colman brought back with her a large col- lection of rart art books, period furniture. photographs and_ pottery. “The History of Costume Through- out the Ages” by Racinet, is the title of one of the rare books she procured. “The lack of nervous straln among artists and people in general on the continent was what impressed me this summer.” said Miss Colman. “We Ameticans _have much to learn in this line. We must learn to conserve our energy and strength. - We live too much on our nerve which is a superficial thing and can only carry us so far. It is my aim to teach the students in this department rest- ful poise and steady accomplish- ment.” Lower Berths for All Spaciousness and comfort both day and night, and a lower berth for everybody, are provided in an in- genlous new design for sleeping cars proposed by M. C. Krarup, consulting engineer, and described in the October issue of Popular Science Monthly. Two rows of seats of the design of arm chairs, are proposed for each side of the car, these doubling its seating accommodation in the day- time, but without crowding. At night, partitions similar to Venetian blinds divide the car into compartments, and the chairs are converted into berths by lowering the back cushions and extending the seats. Each compart- ment would contain comfortable bed- room, & wash basin and a large mir- so8, d been } ce stocks. | s con- | FINANGIAL, NEW YORK STOCK EXCHANGE i ! Ajax Rubb Allied Chem | Aills Chalmer: Am Agr Chem Am Ag Chm pt. Am Bosch. Am Can: Am Cot Ofl pt. Am Druggist. Am Express Am Internat Am La France Am Linseed. Am Locomot Am Metals. .... A'm Safe Razor. { Am Ship & Com Am Smelting. Am Steel Fdy Am Sugar. Am Tel & Teleg Am Tobacco Am Tobac B). Am Tob pf (n) Am W W é%pf. Am Woolen. Am Woolen pt Anaconda Arnold Constal Atchison. . Atchison pf. Atlantic Fruit Auto Knitter. Baldwin l.oco. Balto & Ohio. Bayuk Bros. . Beechnut Puck. Beth Ste Bklyn Burns Bros (A) Butte Copper. Butte & Super. Butterick... Caddo OIl... Calif Pack. . Calif Petrol. Canadian Pac. Central Leath Cent Leath pf. . Cerro ae Pasco. Chandler Mot. Chesap & Ohio Chi & Aiton. Chi & Alton pt. Chi Mil & St ¥. Chi Mil &St P p Chi & Northwn. Chi StP M & O Chile Copper Coca-Cola. Colo & South Columbia Ga: Col Graph pf... ConsGasof NY. Cons Textil Cont Can. Continent: Corn Products. . Corn Prod pf. Cosden & Lo. Crucible Stesl Cuban-Am Sug. Cub Am Sns pf. Cuba Lane Sug De Beers....... D Lack & West. Douglas Corpn. Dupont (E D). Duquesne 1st pf. | 2 Erie 1st pt. Erie zd . Fisk Rubber Fleishman. Gen Asphalt. | Gon Baking. Gen Cigar. Gen Electrie Gen Motors. Goodrich. Goodyear pf. Great Nor Or Gulf St Steel Hayes Wheel. Houston Oil. Ind Oil & Gas. Indiahoma Inland Steel. interb Rap T In Ag Chem pt in Combust E. . Int Harve: Lot M Marine pf. Int Nickel. .. Intl Paper (sta) iron Product island O1L Jewel Tea. Jones Tea Keily-Spr Tire. Kennecott. . Keystone Tire. Lehigh Valley Lig & Myers Locws Inc. Loft Inc. Loose-Wi Lorillard (P). Mack Trucks. Mackay Cos. . Macy Copt.. Mallioson & Co. | Manati Sugar.. Manhat Kl Sup. i Manhat Shirt. Marland Oll. Maxwell (A) Maxwell (B) Mex Seaboard Mex Seabd otf Miami Copper:. | Middle St Ol Mo Kan & Tex Mo K & Tex pf Mo Pacific. . Mo Pacific pt. Montg'y Ward Moon Motors. Motner Lode. Nash Motors Nat Biscult. .. { Natl Enamel.. N Y Alr Brake | N ¥ Central. | North Amer. . North Pacific. Nunnally Co Oklahoma Prod Ontario Silver. Orpheum Cir pf Otis Elevator. Otis Steel Otis Steel pf Owens Bottl Pacific Coast. Pacific Oll. Pan-Am Pete Pan-Am P (B) Pennsylvani: Penn Seabd Stl. Phillips Pete. Pitts & W Va. Pitts&W Va pf. Atian Bir & Atl. Am Brake Shoe. Am Water Wks. Am Writ Prpf.. Atlas Powder. .. Austin Nichols. . BKlyn Rap T fp... Burns Bros (B). Callahan Zine... Calumet & Arlz. Century Rib MiL Chi R 1 & Pac... Chi R I&P 7% pt Columbia Grapk Columbn Carbos Com Solv (B). .. Cuba Cane S pl.. Davidson Chein. Eastman Kodax | Elec Stor Bat... Famous Plavers Gt Northern pf.. Hartman rights. Hudson Motors. Ilinols Central. 104% Int Mer Marine. Laclede Gas.... Lee T & Rubber. Montana Power. NYC&StL (n). NYNH&Hartfd. Norf & Western 101% Orpheum Circult Postum Cereal. . Pressed Stl Car. Produc & Ref.. Pub Service. Pullman Co. Open. High, 1% 164 69% 43 64 1% 5T 354 614 122% 148 147% 101% 88 61 8% 99% © 38% 16% 1 54 3% 20% 113% 6% 50 68 48 107% 31 102 1% 18% 4% 47 3% 4% 23 26 13 5% 20% 3% €% 2% 11% 631§ 34 % 35% Kayser (Jullus) 37% 25 33 3 8% 17 604 208% 16% 9 23% 13 12% 29 10 26% 60% 21% 23% % 86 46% 63 3614 99% 3% 11% 20% 6% 8 1% 3% 17% 92 122 % 49% 2% 10 36% 54% 63 42 2% 91 40% 17% 28% 41% 89 52 49 28% 3 50 74 109 112 30% 53% 89% az% 24% 38 10% 9 9 28% 5 12% 29% 10 26% 60% 21% 23% 8% 86 46% 53 36% 99% 3% 11% 101% 21% 57 8 1% 3% 17% 92 122 % 9% 42% 10 36% 55% 63% 2% 2% 91 40% 43% 17% 24% 41% 89 52 49 23% 4 43 PRICINR ST | Low. Close. | 64 62% 40 12% 36 -28% 70 89% 107 109 112 30 52% 38% 4% 23% 877 10% 9 9 23% 4% 12% 293 10 263 601 21% 23% 8% 26 6% 524 361 99 3% 11% 101% 20% b55% 8 1% 3% 17% 92 122 % 49% 42% 10 36% b4% 52% 1% 2% ot 40% 43 17 22% 0% 89 51% 49 23% 43 B e 63 63 114% 56% 60 67 47% : Recelved by Private Wire Direct to The Star Office Punta Alegre | | Rand Mincs Rapid Tran Sec. Rap Tran Sec pf Rey Tobac (B). Royal Dutch. Rutland Ry pf &t Joseph Lead.. St L & San Fran St L South pt. Savage Arms. Schulte Store Seaboard Alr Sears Roebuck. Seneca Copper. . Shell Unlon. ... Shell Union pt. Sinclair Of Sinclair pt. Skelly Oll... South Pacific Southern Rwy. Southern Ry pt Spicer Mfg Co. . Stand Milling.. St Oll of Caliz. Stand Oflof N J. Sterling Prod. Stewart-War: Strombg Carb. . Studebak Submarine Bt... Sweets Coof A.. Tenn Copper.... Texas Company Tex Gulf Sulph. Texas & Pacific. Tide Water OIl. . Timken Bearing Tobacco Frod. 107% | Tobacco Prod A. 31 102 21% | Unlon Pacific b4 14 19 1% Trans Cont Oll.. Underw'd(new). Un Alloy Steel. Un Drug 1st. United Fruit. United Ry Inv.. 773 | US Cast I Pipe, 184 U S Food Prod. . 4% | US Hoffman M 47 U S Indus Alco. 141% | US Realty. 16% | U S Rubber. 4235 | US Rub 1st pf.. 30 30 47% 60% 5% 15% 26% 63% 284 8% 53 26 74 203% 16% 7 508 160 3% 109 12 30 52% 38% a2% 24 3% 10% 9 9 23% 5 12% 29% 10 26% 603 21% 23% £ g6 46% b2x 36% 99% 8% 115 101% 21% 56% 8 1% 31 1% 92 122 % 49% 2% 10 36% 55 53% [ and the question of the compensation 42 2% 1% 24% 40% 89 51% | home,” resumed the doctor. 49 23% 43 114 6% { i | denotes, as often as not, a rapacious USSmelt & R pt U S Steel. Vanadium Corp. Va-C Chem pf.. Wabash.... Wabash pf (A). Waldort (new). West Penn Co. . Western Md. ... Western Md. 24 West Pacific. West Pac pf.... Westhse EI1&M. Wheel & LE pf.. White Eag Of1.. White Motor. White Oil. 29 26% 81 29% 15% a3 9 6% 13% 56% 58% 10% 22% 48% 1% 5 58% HOURLY SALES OF STOCKS. | 11am.... 193000 12m e 3zszooi FORD WOULD HAUL | COALIN OWN CARS Asks I. C. C. to Review Rul- ing Having Serious “Effect on Price of Autos.” Henry Ford filed a petition with the Interstate Commerce Commission to- | day asking reconsideration of its July decision in the assigned car case, which he' contended would have “a widespread effect upon the price” of Ford cars. The general result of the decision against which Mr. Ford com- plains was to refuse to coal mines and utilities owning their own coal cars the right to control these cars in the shipment of fuel. The Ford petition said that fac- tories owned by the Ford Motor Com- pany used more than 3,000 tons of coal a day and that in addition to acquiring coal mines at various places the Ford interest also had purchased $1.807.000 worth of steel coal cars. if the commission's decision stands, the petition concluded, and refuses to allow the Ford Company to retain these cars in haulage of its own coal, there will be a serious loss to the company. A large number of utility com- panles, railroads and others aiso have petitioned for a rehearing in the assigned car matter. SEARS, ROEBUCK TO PAY OFF $16,900,000 IN NOTES i with D. C., SATURDAY, SEPTEMEER 29, 1923. GENERAL DECLINES INLIBERTY BONDS Sheet and Tube Sixes Break Four Points—Other Moves Irregular. BY GEORGE T. HUGHES, Special Dispateh to The Star. NEW YORK, September 29.—Con- siderable irregularity prevailed in to- day's bond market, although on the week as a whole the tendency has been toward lower prices. The fea- ture today was a break of over 4 points In Youngstown Sheet and Tube 6s. Originally offered in June at 99, they have been traded in uniformly at about this price ever since until to- day, when the syndicate support was apparently withdrawn and the first sale was at 96, with a subsequent in- crease’in the loss. The incident was similar to the decline which followed the dissolution of the syndicate in the Cuban 5%s and the Tllinois Bell | Telephone 58. In none of these cases did the break have any relation to the investment standing of the bonds. Liberty Bonmds Heavy. Heaviness continued in the liberty bond list. The condition here ap- pears to be liquidation by the banks with a temporary lack of support from buying for the British treasury or for the account of our own gov- ernment sinking fund. Naturally enough neither of these agencies advertises its operations and when, for any reason, they with- draw from the market the offect is at once evident. Money market in- fluences also are not favorable just now to higher prices for liberty bonds. Even buyers of tax-exempt se- curities. such as the liberty 3%s and the high-grade state and municipal obligations are demanding a larger re- turn on their investment. The 3%%s sold today at the low for the year. Coupon Rate Raised. The state of Tllinois, illustrating the same condition, has been com- pelled to raise the coupon rate on its proposed issue of $10,000,000 soldier bonus bonds from 432 to 4% per cent to_meet market conditions. High-grade rails and industrials were fractionally lower, but not_con- spicuously so. An instance is Cana- dian Northern 61is, which were down more than a point on the week. This is practically a government issue, as both principal and interest are guar- anteed by the Dominion of Canada. At present prices the bond ields more than 51z per cent. Delaware and Hudson refunding 4s, a savings bank issue, has been another com- paratively weak bond. On the other hand, Reading general 4s have been remarkably steady, due probably to the fact that under the segregation plan they are exchangeable for new bonds, two-thirds for a railroad 4% per cent and one-third for a coal and iron 5 per cent (new issue). Reaction in Tractions. There has been all the week a per- sistent reaction in traction securitie: A notable instance is Chicago Rai way 5s down some two and a half points on the week. There has also been heavy selling of all the Inter- borough Rapid Transit obligations losses of from onme to three points. Among the rails B. & O. is- sues were a trifie higher today and are up substantially on the week. There is much talk of new foreign financing, but e.cept the $6,000,000 Republic of Salvador loan, to be of- fered next week. there is nothing definite. Negotiations for a Japanese bond issue are under way. but no conclusion has been reached. Foreign bonds were mostly lower on the week, reaction following the upturn subsequent to the announce- ment of the German surrender in the Ruhr. Week’s New Bond Issues. The week's total of new bonds is about $17,500,000. The largest single offering_ was $2,800,000 New England Power first mortgage bonds, to yield 5.25 per cent. The next largest issue was $2,300,000 for the Standard Plulc' Glass Corporation. Heavy selling of all the liberty loans carried prices down for practically all the issues. The first 3%s sold down about 7-32 in the last half hour of today's trading, and United States 4%s lost almost as much. Thers were also sharp declines in all three of the old 41 per cent issues. COTTON SELLS LOWER IN TODAY’S TRADING Considerable Week End Selling Follows Opening at Higher Quotations. By the Associated Press. NEW YORK, September 29.—The cotton market opened steady and generally 4 to 11 points higher on relatively steady Liverpool cables and further covering for over the week end or the approaching govern- Company Announces No New Fi-!{ment crop report. The advance mpt nancing Will Be Needed. Sales Gain. By tha Assoclated Press. CHICAGO, September 20.—Sears, Roebuck & Co. announced yes- terday it will pay off without re . { nnancing about $16,900,000 of notes maturing October 15. The notes are the last block of an original issue of $50,000,000 floated in 1920 to tide the company over the depression period. The balance of the notes were paid off at maturity a year and two years ago. The current payment, the an- nouncement said, will relieve the co: pany of all fixed indebtedness. Ca ital liabilities will consist of $8,001 000 preferred and $100,000,000 common stock. Sales thus far this year have been about 27 per cent above those for last year, the statement said. Rapacious Creature. President Hibben said at a Prince- ton reception: “Most people think there is only one kind of success—financial success, riches. That, as a matter of fact, is one of the lowest forms of success. It mind, like Blank's. “Blank sat in the orchestra of a motion picture theater one evening, and directly above him in the gallery sat a sallor. The sallor was hungry and he had brought a package of sandwiches with him, but in attempt- ing to open it he accidentally let it fall into the orchestra, at Blank's feet. “Blank seized the package, chose a ham sandwich and began to eat, but after the first mouthful or two he glowered up at the sailor reproach- fully. “‘You might have put some mus- tard on them! he yelle An Expensive Dog. A doctor in an eastern city recently lost a full-blooded Airedale terrier, to be given'to the finder, if the dog were returned, was under discussion between the doctor and a friend. “It will be a heavy reward to pay,” said the doctor. “No doubt,” “About $50, the medico. “Most likely,” said the friend. wish the dog had yed at aid the friend. sorrowfully murmured “It would have been less expensive.” “He was a rare and handsome ani- m: “Nothing like him in the city.” “Pedigree and style considered.” 1 increased offerings, which were in- fluenced by very favorable weather news from the south, however, and the market was easier after the call, with December selling off from 28.69 to 28.59, or about a point below yes- terday's closing. Futures closed easy—October, 28.62 to 28.63; December, 28.30 to 28.32; Januar: 27.75 to_27.8 March, 27.78 to 27.85; May, 27.75 to 27.77. Spot |cotton quiet; middling, 29.40. l New Orleans Market Lower. NEW ORLEANS, September 29— After advances of 2 to 4 points on the most active months the cotton market commenced to fall off today under selling stimulated by better weather over the belt than expected. In the first hour the December posi. tion sagged to 27.88, where the lij showed losses under yesterday's close of 13 to 19 points. Warm and dry weather was reported nearly everywhere in the cotton region, leading to the belief that conditisns for gathering the crop could hardly be better. Danger in Military Power. From the 8t. Paul Pioneer Press. Attorney General Daugherty's opin- ion that the President has no power to use the Army or Navy to enforce prohibition laws, in the absence of special authorization by Congress, merely recited that such is the law, without going into the reason of the law. The framers of the Constitu- tion feared the possibility of military dictatorship by the executives. They were so lately emerged from a mon- archial form of government and the experiment of a federation of little republics was so new that they were apprehensive that some President might declare himself king, with succession of the office to his heirs. Kings were the fashion in those days, republics the exception. The Consti- tution accordingly was made to pro- vide that no appropriation for any army could be for a longer term than two years, legislate the army out of existence, by refusing an appropriation, if there should be danger of the Executive using the military forces to establish himself as a tyrant. It was further provided that rules for the govern- ment of land and naval forces should be made by Congress. The President was made commander-in-chief of the Army and the Navy, but as such was merely the first officer in both serv- jces, not to rule arbitrarily but to obey the law in those official capacities. ——— Count to a hundred before fighting or you are liable to count to a hun- dred stars after fighting. "ON NEW YORK BONDS:S'FOCK EXCHANGE Recaived by Private Wire Direct to The Star Office. (Sales are in §1,000.) UNITED STATES BONDS. (Fractions represent hirty - seconds. | Ann Arbor 4s Example: 98-3 means 98 3-32.) Lib3%s Lib 1st 4 Lib 4th 43 US4%s1952. 79 Argentine 7s... Austria 7 Belgium 6s Belgium 8s Bern 8 Bollvia 8s. Bordeaux ds. . razil 7s. . razil 8s. . Canada 5s 1926. Canada 53%s 1929, Canada 55 1931. Cunada 55 1952. Chile 85 1946. .. Chile 8s 1926 Chile 85 1941 Chile 7s 1943 Copenhagen Cuba 51s ctfs. Czechoslovakia Denmark 6s. . Dutch E16%s. ... Dutch East I 6s8'47. Framerican Tigs. . French Govt 8 French Govt 7 Holland-Amer 6 Italy 6%s 1925 Japanese 1st 41;s. Jergen UM 6s 47 Lyons 6s. Netherlands 6s. Norway 68 1952. Ofient Dev deb 6s Paris-Ly's-Med 6s. Queensland 7s. .... Queensland 6s. ... Rio de Jan 8s 1946, Rio de Jan 85 1947. Sao Paulo.City,s: Sao Paulo,State.8s Seine, Dept of, 7s. . Serbs Crotes Slo 85 Swiss Confed 8s.. . Ud Kingm 5%s'29. Ud Kingm 5%s'37. Ud Steam Copen 68 Uruguay 8s.... Zurich 8s Am Agr Chem 7T%s Am Chain s f 68'33. Am SmIt&R 1st 6s. Am SmIt&R 6s. ... Am Sugar Ref 6 AmT&Tcv 6s AmT&Tcltrb AmT&Teltrds. . Anaconda cv db Ts. Anaconda 1st 6s Armour & Co 4 Bell Tel Pabs..... Beth Steel 5%s53. Beth Steel rf § Beth Steel s f 65 Brier H St 1st 535 Bklyn Ed gen 5s Bush T Bldg 55 60. Central Leather 5s | Chile Copper 6s CinG & Ebl%s Commonwth P 6 Con Coal Md 1st 5s. Cuban-Am Sug 8s. Cuba Canecvd 8s. Cuba Cane cv 7s '30 Diamond Mth 71 Duquesne Light Est Cuba Sug 7% Empire GEF T%s Fisk Rubber $s... Gen Elec deb 5 Goodrich 6%s. . Goodyear 8s 193: Goodyear 8s 194 Humble O&R 533 Tllinois Bell 1st 6s. Indiana Steel bs. .. Int Mer Marine 6s. Int Paper 1st 55 B. KCP&Lt5sA 52 Kelly-Spring 8s Liggett & Myrs 7 Manati Sug sf 7%s Marland Oil 8s '31. Mer & Mfg s £ 75’42 Mexican Petrol 8s. Midvale Steel 58 New Eng Tel bs NY Tel 65 °41. i N Am Edison 6s Nor States Pow 6s Nor States Pow 5s Northwst B Tel Otis Steel 8 Pacific Gas & El 58 Pacific T & T 5852 Pan-Am Pete 78 Phila Coref 6s A.. { Phila Co 5%s'38. { Pierce-Arrow 8s Producers & Rf 8s. Punta Alegre 78 Sharon St1 H 8 Sinclair Oil 7 Sinclair O11 6% Sin Crude Oil 5%s | Sin Crude O11 6 i Sin Pipe Line 58 South Bell Tel 5 i So Por Rico Sug. Steel & Tube 7 Union B:z & P 61 USRubistrfbs US Rubber 7%s. USSteel = £ 58 Utah Pow & Lt bs Vertientes Sug 7s. Warner Sugar 7s. West Union 6%s. . Westinghouse 7, Wickwire Spen Sales. High. 99-17 97-29 97-29 98-27 97-28 99-20 FOREIGN. Sales. High, 17 19 10 101% 88% 100% 96% 101% 108 8% 79 8% 94% 9% 101 99% 98% 103% 102% 104% Dutch East 1 6s'62. 20 3 . b2 3% 106% 100% 20 90% 954 98% 864 6614 1z 1% 101% 89 101% 109 99 9274 90% 100% 101% 116% 974% 9240 99% 96% 83% 9774 88% 91% 97% 94 96% 91w 974 98% 96 85% 86% 106% 931, 87% 105% 103% 87% 9614 102% 109 107% 3 9415 Youngstn S& T 65.242 96 4s December 15. 4%s March 15, 435 March 15, | 5%s June 15, 1024 15138 September 15, s March 13, 1825. ¢ B2 T 15, 1935 # September 15, s March 15, 102 Anaconda Ce Du Paat Tos 1081 Goodyes! Kansas City Term. 6s. Penna. R. K. 7s 1930, Standard Oil of Calif. Swift & Co. 58 1 so that Congress might | Aluminum Co. of Amer. American Cotton Oil 8s 1 American Sugar 6s 1937. American Tel. & Tel. 68 1934 | American Tel. & Tel. 6s 1925 per_6s_1929. . Anglo-American Oil 7igs 1925 Low. Low. 101% 88% 100% 96% 101% 108 87% 79 8% 94 99% 100% 994 98% 103 102% 04 9 89 £0% 93% 96 9% 96% 96% 89 98% 4% F315 95% 92% TT% 9% 97 95% 89 72% 106% 100% 90 904 954 98% 864% 66% 12 1w 101% 89 101 108% MISCELLANEOUS. 987% 92%% 904 100% 101% 1164 974 924 99% 964% £3% 97% 88% 914 97% 98% 9614 a1 97 98% 96 854 86% 106% 92% 874 105% 103% 100% 91% 103 101 99 101 116% 4% 933 994 76% 83% 89% 105% u7 97% 98% 105 103 86 97% 104% 91t 99% 90 107% 97 89 90% 102% 99% 89% 73% 102 110 99 93% 85% 95% 94w 80% 94 100 104% 97 854% 106% 101% 87% 96% 102% 109 107% 914 94% Close. 99-10 99-13 97-22 97-27 97-22 98-23 98-25 97-22 98-24 99-13 99-16 97-24 Close. 101% 88% 100% 96% 101% 108 <8 79 8% 94 99% 100% 99% 98% 103% 102% 104% 94% 89 90% 24 26 1% 96% 96% 89 98% 94% R34 95% 2% % 80 97% 95% 89 2% 106% 100% 90 80% 954 98% 86% 6645 112 ik 101% 89 101% 108% 29 927% 20% 100% 1017% 116% 974 924 9974 96% E314 97% 88% 91k 7% 94 96% a1y 97 984 96 86% £6%4 166% £2% 87% 105% 103% 100% 1% 103 101 9914 101% 116% 9% 93y 99% 6% 3% 89% 105% n7 97% 100 105 103 36 975% 104% 1% 99% 90 107% 97 89 90%% 1025 99% 90% 78% 102 /110 99 98% 85% 9 94% 80% 94 100 104% 97 5% 105% 101% 87% 964 102% 109 107% 9% | %% TREASURY CERTIFICATES. 100116 100 © 300 13T 100 30.52 1 100 2582 1007 2100 132 90 10035 9931321 % 099-16 99 31.3: | 4148 December’ 15, 1927. 1924 Federal Sugar Ref. 6s 1933. Fisher Body Corp. s 1027. Fisher Body Corp. s 1928, T, & R. 8s 1931, Great Northern 7 1936.. Kennecott Copper 7o 1030, ‘Michi tate Tel. 5s MRERKS. 8. M. 6s 1031 Morris’ & Co. 7%s 1930. St. Paul Union Depot 53s 1023, Sears, Roebuck & Co. 75 1923. . 108¢ 9, CHICAGO STOCK MARKET. CHICAGO, September ' 29.—Following is a report-of today's sales, high, low and closing quotations, at the Chicago Stock Exchange: Sales. 30 Commonw'th Edison 185 Gill Mfg . otor . 670 Un Carb & 30 Yellow Mfg 8100 Yellow Taxi ... 91! 1023 1073 High. .Low. Close. 350 Armour of Del pfd 891 50 Armour of Il pfrd 78 127 7 . 117 Total sales, 25,000 sbar 8! e i RAILROADS. Sajes. High. .'8 55% 8 &M% .10 8% 8% 100% 82 83% 86% 112% 8% 96 Atchlson gen 4 Atchison adj 4s. B&O gold 4s B&OG B&Oc: B&Orefbs...... Buff R&PItt 4145 Canadlan North 7 Canad Pac deb 4s.. Car Clinch & O 6 Ches & Ohio cv 5t ® P RRER AN NNN ANRR A A REVANRNm~OR—ONNG NOENE® ChiM &St P rf 43¢ Chi M&St P cv 8. . Chi M&S P cv 4%s. Chi M&St P 45'34. . Chi Rys 5s Chi RI& Pacrf 4s Chi Un Sta 6%s.... Chi & W Ind cn 4 CCC&StLrf6sA.. CCC & StL4%s. Cleve Term 5%s. Cleve Term bs. Cuba RR 7%s. Cuba R R 5s. - Del & Hd 1st rf 4s. Del & Hudson 5%s D&RG 1strf s Det United 4%s. Erle 18t con 4s. Erle gen 4s. . Erie conv 4s B. Erle conv4sD.. Gr Trunk sf db 6s. Grand Trunk 7s Gr North gen 7s... Havana ERL&P bs Hud & Man ref os. . Hud & Man aj 5i 111 Central 5%s Int Rap Tran 5s. Int Rap Tr5s stpd. Int Rap Tran 6s. i Int Rap Tran 7 Int & G Nor aj 6s Kansas City S 3s. Kan City Term 4s.. Lake Shore 4s'28.. Louls & Nuni 4s. .. Louls & Nash 7s. Louis & N &8 2003 {Manhat Ry cn 4s | MIEI Ry & L os. M&StLrfex5s.., StL1strfds.. istdés..... rinbsA. sB. s 2 2 .18 3 113 42 11 21 12 & K K K K © & & & & - o onatweSauEiamnorinnlorwa HeadSe Mo Pacific gn 4 Montrl Tm ist § | Nassau E Ry 4s'57. New Or Term 4s. .. N Y Cent gen 3% N Y Cent deb 6s. NYCentris Z NYCentcnds'98.. New Haven c d 6s.. New Haven 7s fr. . New York Ry aj 6s N'Y Rys adj 5s ct.. Northern Pac 4s. .. Northn Pacr 1 63.. Ore & Calif 1st 5s.. Ore Short Lref 4s Pennsyl gen 58. ... Pennsyl gen 4138. . Pennsyl 6%s. Pennsyl gold 7 Pere Mrq 1st 48 '56. 10 - @ © Rapld Tran 6s. | Reading gen 4s {RTArk & L4%s. .. St L IM&S R&G 4s. StL&SFpl4sA.. 7 StL&SFprinbs. 5 StL&SFincés...101 StL&SF5%sD.. 1 StL&SFadfés... 9 Seab'd ALadjbs.. 6 Sou Pacific 45 1929, 20 Sou Pacific ref 4s.. 10 Sou Pacificclt4s.. 17 Southern Ry 1st 6s. 3 (Southern Ry gn 4s. 46 Southern Ry 6% Third Ave adj 58 Tol StL & W 4s Tol St L& W 31s. Union Pac st 4s Union Pac 1st rf 4s Unfon Pac cv 6: VaRy &P 1st G Western Md 4s ern Pacific 5s. West Shore 1st 4 TOTAL SALES (Par Val 1lam,. 1838000 12noon. 3831000 BANK REPORT CLEARINGS APPROACH 1920 FIGURES By the Assoclated Press. SEATTLE, September 29.—Bank clearings for the first nine months with the last two business days of September estimated, indicate that 1923 will close with an increase in clearing of $250,000,000 over 1922. Bankers here estimate clearings wi come within $100,000,000 of the ban- 14 €5% 624 89% 2% 30 92 845 81% 94 6774 100% 48% 68% 94% 90% 81 103 85% 58 78 8% 8 8% ner year of 1920, which was an ab- | normal year. There has been little of the abnormal in this section this year except the flood of tourist traf- fic and heavy timber production. ORGAN OF BAMBOO. Built by 0l1d Priest at Philippine Mission. One of the most remarkable organs in the world, says a writer in the October Wide World Magazine, is the bamboo organ in the Catholic Church of Los Pinas, a little town about five-miles from Manila, in the Philippine Islande. This organ was bullt about 1518 by an old Spanish priest, who must have been an ex- tremely patient and devoted worker, as he used more than 800 lengths of bamboo in the organ, every one of | which was buried In the sand for at least two years in order to season it. | Strange to say. although bamboo is a very soft wood, the old priest did his i work so well that the organ is still in good conditicn after a century of use, and i used every week In his Services by the Belgian priest in charge, Father Victor Declereq. Every IDart of the instrument is made of vices were included by its builder, {who must have found his work a jlabor of love indeed. this larger organ, the old Spaniard built a tiny model, a perfect copy of the big instrument. This he sent to the Queen of Spain, who, in appre- ciation of this unique present, sent a number of valuable gifts fo the church. Some of them still remain, and are almost as much treasured as the organ itself, —_— Twice in the Same Place. From the San Francisco Chronicle. Twice recently, once in Illinois and once in Georgia, lightning has struck and killed human beings. The people of those localities will probably breathe easier now, thinking of the old fable that says lightning never strikes twice in the same place. Like many another well worn ad- age, this one is not true. Lightning strikes where it pleases, wherever electric tension becomes great enough to result in a discharge. In ‘Dlace! where natural conditions are iparticularly favorable to an electric discharge lightning is likel to strike, not only twice but repeatedly. The tips of high mountain peaks everywhere are frequently struck by lightning because they reach close to electrically-charged clouds. Look about you the next time you are on a really high peak. You will be pretty sure to find the evidence on the rocks anywhere on the summit. Slaggy surfaces show melting by lightning bolts. "And if a thunderstorm gathers, re- member that you are on the tip of a lightning rod, and get off the sum- mit quickl; ai e LSS TSR People who calculate on an elev- ant:!.-.hour repentance generally die at ‘While making | { i | 1 l onions, 100 pounds, 2.00z | pinach, bushel, I hens, FINANCIAL. | Grain, Produce and Live Steck LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, selected, can-} died, per dozen, 42; average receipts. 38; storage, 32a33, Live poultry—NRoosters, per 1b.. 18 turkeys, per 1b., 32; spring chickens, per Ib., 25a2§; keats, young, each, 50a70; fowls, each, per Ib., 24a26. Dressed ' poultry — Fresh killed spring_chickens, per Ib., 32a36; roost- ers, per Ib., 30a35; hens, per lb., 30 turkeys. per 1b., 40a42; keats, youns. each, 75a80. Live stock—Calvas, choice, per 1b., 11%a12; medium, per Ib., 10ail: thin, per Ib.,'6a7. Lambs, spring, per Ib., 14. llgvemzlzu, 3.0025.00 each; live hogs, per Green fruits—Apples new. per bas- ket, 50a2.50. California oranges, per crate, 5.00a6.50; Florida, 3.00a6.00. Lemons, 6.00a7.50. .00. aches, .. % -bushel basket, 1.00al.5 Grapes, Concord, 20-pound basket, 1.00 Niagara, 1.75a2.25; Colorado Lopes. standards, 1.00a2.00; flats, 50a75. Vegetables—Potatoes, per ubl, No. 4.0024.50; No. 2. 2.00a2.50. New potatoes, round, per bag, 3.50a | .75; New Jersey, giant potatoes, per bag, 3.00a3.25. New sweet potatoes. 3.5024.00 per bbl. New York lottuce, per crate. 75al.30. Cabbage, north- ern, 25a2.50 per 100 lbs.; nearby, 1.00 per bbl. Eggplant, per crate, 1.00. Tomatoes, J%-bushel bas- Ket, nearby, 25a50. Beans, 2.00a3.50 per bbl. New York celery, per crate 5.00a6.00. ~Squash, 75a1.50. _Peppers, per crate, near! 40: Kale, per| bbL, 75al.00. Spinach, ~per crate, 50a1.00. Home-grown lima beans,| per quart, 20a25. New ‘York cucum-; bers, per bushel. 2.00a3.00. Sugar corn, per dozen, 10a25. GRAIN AND PROVISIONS. BALTIMORE, Md., September 29 e Potatoes, Wwhi barrel, 100 pounds, 3.0023.50; sweets barrel, 1.00a3.00; basket, 25: 0al.25; lima beans, 3 cabbage, hundred, 4.00a8.00; hundred, 2.00a4.00; cauli- hamper, 2.50a3. 30a80; corn, dozen, sket, 30a80; eggplants, ; lettuce, bushel flower, ket, asket. 30a50; squash, b ket, 45a60; packing 'aocl:.flhu: 1.00; turnips, basket, 35a: # 1.50a2.50; bushel, 50a | z ntaloupes, crate, crabapples. Dbasket, 60265 rapes, bask 75a1.00; damsons, Puahel, 1.50a115; peaches, bushel, 1.00 basket, 50a1.00; pears, bushel, 50; basket, 20a40. Settling Prices on Grain. ‘Wheat—No. 2 red winter, spot, 1.09% No. 2 red winter, garlicky, spot, 1.03% 3 red winter, garlicky, spot. 1.01 4 red winter, garlicky, spot, 96% Sales—Cargo of No, 2 red winter, gar- licky, at 1.02%. 3 Corn—Cob, Tiew, 5.10 per barrel; No. corn, spot, mo quotations: track corn, % or better, 1.07. a 2.00a3. yellow, Sales—None. Oats—No. 2 white, white, new, 49 Rye—Nearby, 75a85 per bushel; 2 rye, epot, 79 per bushel. Hay—Receipts, 114 tons. The local hay market is steady on the better qualities of timothy and light mixed, for which a fair demand at 23.00127.00 per ton. Receipts of choice hay are light, and stocks are being gradually washed down here. . 15.00a16,00: . 1 oat, 13.00 new, 51%: No. 3 No. No. 1 wheat, 12.50a13.00; N a14.00. An increase of 25 cents per bushel on | western winter patent and 5 cents per barrel on_ western winter straight was announced here this morning. DAIRY PRODUCTS. BALTIMORE, Md., September 29 (Special). — Poultry — Live spring chicken: a26; leghorns, 20a 18a26; leghorns, a roosters, 15; ducks, 17 pigeons, pair, 20a25: guinea fowl, each, 40a Eggs—Loss off: native and nearby firsts, doz., 38; southern, 26. Butter- b, 44a47 to fan reamery, g0od nearb; prints, 47a49; creamery, 42: ladles, 34a37; rol 31a33; store packed, '30a3l; dairy prints, 31a33; process butter, 38a3s. B TODAY'S CHICAGO PRICES. CHICAGO, September 29.—Profit- taking sales on the part of holders gave all cereals a downward tendency in price today during the early deal- ings. Wheat was depressed also by the fact that the Liverpool market was easier. On the declines, however, less free. Opening prices. which ranged from % to 1 lower, with December 1.6 al.06% and May 1.10% al.10%, were followed by a little further setback and then something of a rally. Wet weather west helped to check downturns in the value of corn and oats. After opening unchanged to 1, lower, December 725a73, the corn market underwent a general saz. Oats_started at oft to % December, 42%at Later all months showed some los: Provisions held steady in the sence of any aggressive selling. WHEAT— Open. Loy September < up, the September December Jannary RIBS— October Junuary CHICAGO LIVE STOCK MARKET. CHICAGO, September 29 (United States Department of Agriculture).— Cattl®—Receipts, 1,000 head; com- pared week ago. most killing ‘classes liteless at week's uneven decline of largely 50 on fed steers and year- lings and 25 to 75 on better grades fat she stock; top matured steers. 12.90; best yearlings, 12.00; canners and cutters, 15 to lower; bulls, 35 to 50 lower; veal calves, 1:25a1.75 oft: stockers and feeders closing fairly active at 50 downturn. prices follow: Fed beef stee 10.75; western grassers, butcher cows and heifers, 4. canners and cutters, 2.75a3.40; ors, 12.25: ; stockers and feed- ers, 5.50a7.00. Sheep—Receipts, 2,000 head: re- ceipts today mostly direct. Market for week; Fat lambs, generally 75 bamboo, and some very ingenious de- | to 1.25 lower; fat yearlings, 25 to 75 lower; natives, mostly 12.50a12.75; cul 00; fat range ewes, 5.50a6.50: feeding lambs closing dull; bulk Fri- day, 12.75a13.15. Hogs—Receipts, 5,000 head; steady to 10 lower; bulk good and choice 180 to 350 pound averages, 8.00a3.30; top. 8.30: botter grades 140 to 160 pound averages, mostly 7.50a7.90: packing sows, 7.00a7.20: desirable weighty killing pigs. 6.20a7.25; esti- mated holdover, 7,000. {WOOLEN GOODS MARKET GAINING VERY SLOWLY Special Dispatch to The Star. BOSTON, September 29.—The Com- mercial Bulletin today says: The wool market has been well sus- tained during the past week, although the volume of business may have been slightly less than m the preceding week. A few descriptions, notably lamb’s wool, medium to low scoureds and medium to low noils, are slightly stronger, but generally thesumarket is only 'steady. The goods market shows little improvement from last week, s0_far as worsteds are con- cerned. Some additional business in woolens and knit goods is in evi- dence. A little buying of the new fall clip in Texas is reported at 30 to 33 cents mostly, The foreign markets are strong, London closing a liftle better than recent advances indicate, while the sales in Brisbane, Australia, have been very firm. France has continued to be the big operator abroad. Ad- vance quotations from South America and South Africa are relatively dear. Mohair is still sluggish and without material change. Some buying of new fall clip s reported in Texas at 40 to 4 cent jof the stoc iconvention of the 1 5] ling ana i buying increased and selling became | | sake! NEW YORKERS MAY START BANK HERE Harriman Interests Said to Be Backing Plan—Local Clearings Make Gains. The Harriman National Bank of New York contemplates a Washing- ton bank, according to a well found- ed report making its rounds in inner | District financial circles. Under the existing national bank act, it was learned at the control- er's office today, establishment of a branch bank by a New York con- cern outside the confines of the metropolis would constitute a breach of regulations. However, stockhold- ers of the Harriman could acquire a controlling interest in a local insti- tution, operating the same as a sep- arate and distinct bank, without running afoul of the law, it was said Officials of the office of the con- troller deny all knowledge of the above contemplation, while G. Bow e Chipman, local manager and mem: 5 K brokerage firmt of W. - Harriman, refuses either to afirm or deny the Tumor. e Harriman National is capital- ized at $1.000.000, with surplus at al- most $2,000.000 and total resources approximated $45,000,000 % 3 hington's banks reflect improved condi During the month end continue to {ed today clearings amounted to $84.- 064,271, tting a new high mar) 0 th. mom_h and repre: ~n‘;m: 411'1\ {h’ crease of more than $5,000,000 over the 379,009,479 reported for the s month of last year. In Augu clearings aggregated $81.618 pThe usual seasonal dullnes owever, in this month's clearings which are exceeded by 1—\r‘r\l Ianrl:x;‘):‘ of the lendar year except February with 49,776, and August. 2 Push Branch Banking Fight. Francis M. Savage, president of tiu Northwest Savings Bank, and Dion Birney, attorney for tha nstitution, returne vesterday from he unn American Banker Association at Atlantic City. They state that they were successful in getting a resolution to have a new suit filed in the state of Minnesota st branching of national banks. to avoid possible lack of juris diction in the Missouri case now be- fore the Supreme Court “The American Banke pas " Association d @ resolution recommending an opriation to fight branch bank- lso for the appointment of ommittee opposed to branch banking,” said Mr. Savage. Mount Ralnfer Bank Gets Charter. Charter has been issued to the First National Bank of Mount Rainier, function with $25.000. The new institution is the result of a con- sion of the Citizens' Interstate k, and will be officcred by R. Milor. president, and Lester S. Homan, hier. ‘WEEKLY BANK REPORT. NEW YORK, actual condition of clearing banks and trust companies week shows an exce: Sepfember {$23.150,560. {crease of $2 BAR SILVER RA'fiIS. LONDON, September 29.—Bar silver. 31 15-16d per ounce. Money, 2 cent. Discount per cent. Three months 3% per cent. NEW YORK, September silver, 643, Mexic 29.—Bar n dollars, 45% CLOSING SUGAR PRICES. NEW YORK. September futures closed quiet, sales, 9,000 tons. October, cember, '4.93; Maich, MAN EATER CAPTURED. {Human Hair and Ornaments in Crocodile. P. A. T. Simey, in an article entitled “The Man-Eating Crocodile.” in the October Wide World Magazine, de- scribes the capture of what is per Ihaps the all criminaly among the croc In the brute's stomach were various clues as to the ma; crimes. “First.” writes Mr. y, “came the jaw- bones of the trader's dog; then balls of natives' hair; then an assortment of brass bangles, including the spiral armlets of the first chief's wife, taken in 1917; and again more bones, some human, some animal. Some of more interesting hibits were cleaned, disinfected, d kept curioy, and the t s presented with his dog's jaw-bones as a keep- Portions _of the brute's flesh were then cut off to rebait the hoo! which was set again in case our friend had any understudies lurking around. The head now adorne a tall pole at the side of the main road through the government station Balovale, in northern Rhodesia MOST FATAL SNAKE. Bite of Amazon Reptile Always Fatal. Marsden Smith, in the October Wide World Magazine, writes a vivid account of the adventures of a small expedition which left England in 1921 to explore the mighty Amazon for- ests, still practically unknown, and study the manners and customs of the wild Indfan tribes who have their homes in those wellnigh inaccessi- ble areas. In their journeyings the expedition encountered a Surucucu snake, though only a small specimen, about seven feet long. The bite of this snake, writes Mr. Smith, is in- variably fatal, and it holds the honor of being the largest polsonous reptile in the world. It may reach a length of more than twelve feet, and is often more than a foot in circum- ference. A tumblerful of venom can be extracted from the poison glands supplying the formidable fang which, in a full-sized specime: quite an inch in length. 1 The Surucucu frequents the margins of rivers, though occasionally we met them in_the interior, and it lives on the smaller animals Tied Up for Life. Prize Story in Judge. The man of the house in name ¢ mopped the bald spot in front whe his forehead should have been and gazed with intense hatred at his wife a few steps ahead. It seemed evident that he was -about to divulge a con- fidence, and the hotel clerk leaned toward him with a friendly, expectant glance. The grumbling one came nearer to the clerk and sald: “When I got mar- ried her folks told her mot to do it and my folks told me not to do it Said it was a misalllance and W6 wouldn't stay together a week. Mis- alliance nothing! I've been married twenty years, and Fcan't even get out for one night.” —_—— Diplomacy. From Life. TR The Young Bride (looking in win- dow of jewelry store)—George, 1'd love to have that bracelet. The Husband—I can’t afford to buy it_for you, dear. The Bride—But if you could, wouldn’t you? The Husband—I'm afraid not. The Bride—Why? The Husband—it isn't good enough, dear. . The Bride—Oh, you darliag! you