Evening Star Newspaper, October 10, 1923, Page 28

- MOVES CONFUSED IN STOCK MARKET Sinclair Rall'qis; on Dividend Action—Anaconda Under’ Pressure. : BY STUART P. WEST. Speclal Dispatch to The Star. NEW YORK, October 10.—Today’s market was another confused affair. At times there was renewed evidence of an oversold condition with conse- quent short covering. At other times fresh selling broke out. The result was a highly irregular price move- ment with no general tendency one way or the other. Copper stocks had begun to weaken on the previous days, but today a se- vere drive was made agalnst Ana- conda, and the break in this stock to around 36, where it was at a new low for the year, was one of the features of the market. Other coppers were more or less affected. Trouble With Anaconda. The trouble with Anaconda lies in the fact that the stock was artificially supported at the time the convertible bond issue was brought out last winter. public got the idea that Anaconda would be put up to encourage the | conversion of the bonds and that it would not be allowed to.go down wuch below the minimum conversion figure of 53. On this theory a lot of outside buying occurred, and on this account and because of the with- drawal of ‘pool support the market position of Anaconda has been more vulnerable than that of other mem- bers of the group. OIL Shares in Rally. Oil shares went lower at the open- ing, some of them getting down as rauch as a point. But they. ralHed on the announcement of the declara- tion of the regular quarterly dividend of 50 cents a share on Sinclair Con- solidated” Sinclair stock itself, after ing . below 18 quickly’ to above 19. The street had looked. for the dividend to be passed altogether. The. aotion of the Sinclair directors was net: regarded as bullish in more 8olid .guarters. Oil companies are not making much money at present prices; and there Is no denying that the demand upon working capital and credit facilities is unusually large. because of the need of carrying oll that could not be vrofitably marketed now. -Consequently the question was debated whether it woeuld. not have been wiger for the Sinclair Company to withhold dividends. Steel News Helps Baldwin. Baldwin Locomotive and other equipment stocks were helped by the statement In the weekly cteel trade reviews that the railways in_the market ywith large inquiries. This forshadowed an carly picking up of busimess on the books of the car and lgeomative makers, provided the matter of prices can be adjusted satlsfactorily. The rise in Baldwin Locomotive ‘intimidated some of the shorts in other stocks of the same type. such as Amcrican Woolen, Corn Products and American Can. The iran trade journals reported that new orders for finished materials were being received in slightly larg-r volume than they were last month, They reported the largest inquiric for railroad cars since the early pa of tho vear. Woclworth Dividend Voted. Directors of F. W. Woolworth & Co. declared the regular quarterly dividend of $2 today. Despite per- sistent rumers to that effect, no extra cash or stock dividend was declared. An official of the company had been quoted a couple of menths ago as d claring that no such action would taken, but it took formal board acti to wipe out the rumors, which been based on the company's excep. tional earning position. If this same ofticial is to be believed further, there will be no extra disbursement even in 1924 Timken Roller Bearing Outlook. Since the recent weakness in Amer- ican Bosch Magneto much talk has been he in the street regarding the business of the automobile ac- cessory companys such as Timken. However, persons well informed on this company believe that earnings will hold up during 1923, with a sub- stantial amount added to surplus after all charges and the payment of the $3 annual dividend on the stock. Interest in Reading Rights and the new Reading Coal Company has been tracted, particularly to the earn- ings possibilities of the coal proper- ties. For the ten years to 1921 it is understood the coal company made net profits of $35, low uverage of ‘prices of coal as com- pared with those now being realized. Moreover, the advantages likely to rue to the Reading Coal Company over other miners and sellers of an- thracite have been pointed out. MARKET CLOSES EASY. More Losses Than Gains in Wall | Street Trading. By the Associated Press, NEW YORK, October 10.—Some sub- stantial gains in prices took place in today's early dealings, but they were largely canceled in later trading. Bear traders suc forcing material recessions in copper shares, while scattered liquidation took place in other parts of the list. Sales approximated 630,000 shares. The closing was easy. Trading slackened perceptibly in the late dealings, owing to the absence of many traders, who left early for the opening game of the world series. Illinols Central preterred dropped 5 points to 107, a new low for the year, on the announcement of an additional issue of preferred stock. DROP IN UNFILLED U.S. STEEL ORDERS By the Associated Press. NEW YORK, October 10.—Unfilled | orders of the United States Steel Cor- poration on September 30, made pub- lic today, totaled 5,035,750 tons, a de- crease of 378,913 tons under those at the end of the preceding month. FOREIGN EXCHANGE. October 10, 1923—12:38 p.m. (Quotations furnished by W. B. Hibbs & Co.) | Nominal gold value, 4.8665 Seliing checks, London, pound. Moutreal, Paria, 1 Hrusse Berlin, ma Rome,' lira Zurigh, franc. Athens, drachma. Madrid, peseta. Vienna, crown Budapest, crown Prague, crown .Warsaw, mark. By the Associated Press, NEW YORK, October 16—Foreign Quotations (in United 4.551-16; cables, 4.555-16; sixty-day bills on banks, 4.52%. France, demand, .060313; cables, .0604. Italy, demand, .0454%; cables, .0455%. Belgium, demand, .0512%; cables, .0513. Ger- many, demand, .0000000004; cables, .0000000004. Holland, demand, .399' cables, .3992. Norway, demand, .1549. Sweden, demand, .2637 Denmark, de- mand, 1763. Switzerland, demand, .1791. Spain, demand, .1357. Greece, demand, .0155. Poland, demand, .00001%. Czechoslovakia, demand, 0300. Jugloslavia, demand, .0116. Austria, demand, .0000014. Rumania, demand, .0047. ° Argentina. demand, 5287, Brazil, demand, reglexii SN market for the | The | t the start, ran up | ere again | 00,000, but on very | eded in | FINANCIAL. Alr Reduction. Ajax Rubter.. Allfed Ciem. Allis Chalm pt An(Beet Sugar. Am Bosch Am CAn Am Car & Fdy Am Chicle Co. .. Am Cotton Oil.. Am Drugg'st. Am]Ice. Am Internatl. Am La France Am Linseed pt. Am Locomotiv Am Metal Am Radlator. Am Safe Razor. Am Ship & Com. Am Smelting. Am Smelt pf. Am Steel Fdy. Am Sugar. Am Sugar pt Am Tel & Teleg. Am Tob pf (n) Am W W 6% pf. Am W W 7% pf. Am Woolen. Am Woolen p? Am Writ Pr pt. Am Zinc & Lead | Anaconda. Ann Arbor pf. Arnold Constab. Asso D Goods. Asso Oil (new). Atchison. ... Atlan Cst Line. Atlantic Gulft Austin Nichols. Baldwin Loco. .. Balto & Ohlo. .. Balte & Ohio pf. Barnesdall (A). Bayuk Bros. Bayuk Bro 1st Beth Steel.... Beth Stl 8% pf. Booth Fish..... Bklyn Rap Tran Bklyn Un Gas. . Burns Bros (A) Burns Eros pf. Butte Copper Butte & Super. Butterick i calit Pack | Calif Petrol. Callahan Zinc. . Calumet & Arlz. Canadian Pac.. Case (J D) pf.... Central Leath. | Cent Leath pf. Cerro de Pasco. Certain-Teed. Chandler Mot. Chesap & Ohlo. Ches & O pt wi. Chi & Aton.... Chl & Alton pt Chi Grt West Chi & Sast Il Chi& EINl pt... Chi Great W pf. Chi Mil & St P. Chi Mil &St P p Chl & Northwa. ChiR1&Pac... Chi R I&P 7% pf Chile Copper . Chino Copper. Coca-Cola. Colo Fuel Colo & So Columbta Ga: Columbia Graph i Col Graph pf i Columbn Carbos Com Solv (A)... Comp Tabulat. Cons Cigar Cons Cigar pf. { Cons Gas J Cons Textil Cont Can.... Cont Insurance. Continental Mot Corn Products. i Cosden & Co. Crucible Steel Crucible Stl pf.. Cuban-Am Sug. Cuba Cane Sug.. Cuba Cane S pf. | Cuban Dom pf Cuyamel Fruit.. Davidson Chemw. Del & Hudson. .. D Lack & West. Detroit Edison. Dome Mines. ... { Douglas Corpn. { bupont (E 1) Eastman Kodak Eaton Axle & Sp Elec Stor Bat... Emerson Brant. Endicott-John Eri Erie 1at pf. Erie 2d pt. Gen Asphalt pf. Gen Clgar... Gen Electric. Gen Elec spl. Gen Motors. i Gen Motors pf. Gen Mot 6% deb. Gen Mot 7% deb. { Gimbel Bres. Glidden. . Goldwin Corp. | Goodrich. . Goodyear pf. ! Granby Consol i Gray & Davis. | Gt Northern pf. Great Nor Ord Gulf Mo & Nor. | Guif St Steel. . Hanna (M A) pf. Hartman rights. Hayes Wheel Homestake. . Housen'd rod Houston Oll.... Hudson Motors. { Hyaraulic St Illtnofs Central. 1il Central pf. ind Oil & Gas | Indiaboma. { inspiration | In Ag Chem p! Int Cement. . ! 1n Combust . | int Harvester. Int M Marine pf. It Nickel. intl Paper. ! Int Shoe. | Intertype 1nvincible Oil. Iron Products { Iron Prod ctt: 1sland Oil. i Jewel Tea. Jones Tea Kans: | Kansas C So pf. Kayser (Jullu | Kelly-spr Tire.. Kennecott. . Keystone Tire. Kresge (88) .. Lee T & Rubber. Lehigh Valley. . Lig & Myers pf. Lima Locomo. Loews Inc. Loose-Wiles. . MclIntyre Por. Mack Trucks. Mack Trucks 1st Magma Copper.. Mallinson & Co. Manhat El Sup.. ! Manila El Corp. | Marland Oil. Martin-Parry. .. Mathison Alkill. Maxwell (A) MaxweH (B) May Dp Stores. Mex Seaboard. Mex Seabd ot Miami Copper. Middle 8t Ol Minn & St L (n). Mo Kan & Tex. Mo K & Tex pt. Opea. 63 54 634 314 40 953 84% 26 90% 187 1% &% 5% 87% 17 1% 347 68% 43% 8l 5% 11 57% 974 34% 63 101 128% 102% 62 91 710 100% 4 7% 37% 30 15% 6% 61% 30% 61 23% 1 104% 111 5% 2% 25% T% 35% 20 73% 24 11% 31% 7 31 L) 64 5% | Mo Pacific pf. 62% ! Montana Power. THE EVENING 'STAR, WASHINGTON, .D. (o WEDNESDAY, OCTOBER NEW YORK STOCK EXCHANGE " Recetved by Private Wire Direct to The Star Office f Low. 1:30. ! : Mo Pacific. . 10 10 28 28 59% 59% Mont Power pf 103 103 Atontg’y Ward. 22 22 23 3 8% 8% 9 9 W 46% 44% | 111 2% 115 86% 6% 100%, % 895 12% 102% 20% 54% 31% 18 1213 Natl Enamei. ... Natl Lead pf. .. Natl Ry of M 2d. Nevada Copper. NOr Tex & Mex. NY Alr Brake.. N Y Central NYNH&Hartfd. Norf & Western North Amer North Pacific. .. Ohio Fuel Sup. . Orphenum Circult Otis Elevator... Otis Steel.. 3 7% Owens Bottle. .. 2% Pacific Coast. ... 8 Pac Coast 2d pf. 16 Pac Gas & Elec. 78 Pacific Of1 s 365 Packard Motor. . 6 12 | Pan-Am Petq . 56% | Pan-Am P (B).. 55% Pennsyivania. .. @y Penn Seabd Stl. 1t People's Gas. 907 Peorla & East 10% Pere Marquette. 4% Philadelphla Co 42y Phila Co pf . 42% Philip Mor! . Phillips Pete. .. ®lerce-Arrow .. Pierce-Ar pt . Pierce Ofi. Plerce Oil pf. Pitts Coal. Pitts & W Va. Pressed St C pf. Prodve & Ref... Prod & Ref pl Pub Service. .. . Pub Serv8% pf.. Pullman Co. Pure Ol 8% pf. . Rapid Tran Sec. Ray Con Copper Reading 1st ot Replogle Steel. . Rsp Ir & Steel Reynolds Spr... Rey Tobac (B), Rey Tob pf B. | Roysl Dutch. ... StL & San Fian St L&San Fr pf. St L Southwn... n Cecll Sug..< Savage Arms... Sears Roebuck. Seneca Copper. . Shell Unlon. Shell Union pf Simmons. . Stnelatr Of1. 184 164 ! 40% 53 | South Pacific. 26% | Southern Rwy. . Southern Ry pf. Stoll of Callt..... Stand Oll of N J. 83 6213 95ts 8% 2h Tenn Copper... 9 Texas Company 41 Tex Gulf Sulph. 57% Texas & Pacific. 20% Tex&PC&OMl. T4 Tide Water Oll.. 101 Timken Bearing 344 Tobacco Prod... 56% Tobacco Frod A. 86% Trans Cont Oll.. 2 Underw'd(new). 88% Union Pacific. .. 129 Union Pac pf. 1% Un Tank Car. 87 Utd Retai! Strs. 76 Y 87 USCastir Ppf. 79% USHoffman M.. 16 G S1ndus Alco.. -50% USRealty...... 91 U S Realty pt... 101 U S Rubber..... 374 USRublstpf.. 9213 US Smelt&Ref.. 23 USSmelt & R pf 40% (i SSteel....... 87 17 S Steel pf. . U S Tobacco pf. Utah Copper. Utah Securit! Vanadium Corp. Va-Car Chem... 9% Va-CChempf.. 25in Vivadou. 18 Wabash... . 9% Wabash pt (A). 382 Waldorf (new). 1v West Penn pf... 85 WesternMd.... 9% W rn Md. 2d. 164 West Pacific.... 13% Western Unlon. 106% Westhse EI&M. 57% Wheeling&L E. 63 Wheel & LE pf.. 124 White Eag Oil.. 22% White Motor.... 48 White O1l. % Wickwire. 6% Willys-Overld.. 6% Willys-Overl pf. 59% Woolworth. .... 2534 257 i Youngstn Tube. 65% 5% 65% 66% | High. Low. Tast. Call Money..... o 5 5 HOURLY SALES OF STOCKS. ! 1lam..... 214 700 12m.......345 700 1p.m. . 421 900 2p.m. 503 800 | FIVE-POINT BREAK IN ILLINOIS CENTRAL| | Submarine Bt... Sweets Coof A.. 7 | 105% 581 15% 28 48 i ok 58% : 253% 255% *| Voting of $11,000,000 Stock Issnei 1 Causes Sharp Break in | New York. By the Associated Press, NEW YORK, October 10.—An- nouncement that directors of Illinols Central railroad, at a meeting | today, had authorized an issue of approximately $11,000,000 additional 8 per cent convertible preferred stock, series A, resulted in a five-point break in that stock on the New York Stock Exchange. The action of the directors is subject to the approval of the Interstate Commerce Commission. The break carried the stock to 107, a new low figure for the year. LIVERMORE INTENDS ! TO RESUME TRADING | NEW YORK, October 10.—“I have no intention of staying out of stock market permanently,” said Jesse Liv- ermore, returning on the Majestic. “I have always traded in cotton and grain and I intend to continue to do so. I had brokerage wires | taken out of my office before I went | Haven L 118% {City and & TRACTIONS LEAD ~ INBOND TRADING Liberties and High-Grade Rails Steady—Foreign Groups Also Firm. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, October 10.—Strength and activity in the local tractions was the feature of today's bond market. There was no particular news to ac- count for the interest shown, but for the past month or so quotations have been depressed without apparent rea- son and today's advance seemed :0 be in the nature of correcting this situation. It also has been reported that the recent decline was due to the disposal of a large block acquired while the readjustment plan of the Interbor- ough Rapid Transit mulated, and that with this selling out of the way the rebound was nat- ural, Good Yields Offered, Interborough 7s of 1932 and 6s of the same maturity ran up sharply 'Wmder large transactions. The 7s are cured by deposit of the refunding 58 of 1966 stamped as participating in the readjustment plan. At today's price they yield around 2 per cent. The 6s are unsecured und_ are the most speculative of all the Interbor- ough issues. The day to vield a Meanwhile the ability to e und ‘141, per cent. Interborough shows a good margin to spare. Rapid Transit securities 6s were also in de- mand today at higher prices. These, | too, give the high yield of around ¢ per’, cent. Rails Are Prominent. Among the rails Missourl Pacific 6s were prominent, running up above 90, or a gain of more than a point. The general 4s were not much changed. Missouri Pacific bonds have been heavy for a long time now on the disappointing earnings record. The price now ma unfavorable results. The optimistic analysis of the outlook for the Ne made public by the road's general counsel, was without on the bonds. Nor was there any re- sponse in the Southern Railway 4s and 6%s to the present v prospects. Chesapeake and Ohfo con- vertible 4%s were fractionally higher. Liberty Bonds Steady. Libertics and high-grade rails and ndustrials were steady. Dealers re- ported some increase in demand for sues legal for savings banks { Changes in quotations, however, were | very slight. There is great difference of opinion mong banker money rates. Reaction in business with consequent smaller demand for funds would doubtless be reflected in higher prices for high-grade bonds. That there s great uncertainty about any such development the market kes very plain. oreign honds held around yester- ¥ afternoon’s levels Washin;_lion Stock E;change. SALES. 100 at 10015 AFTER CALL. . & Elec. pfd.—10 at 10035, 5 a, Traction Co.—10 at 1 at 100k, #hinglon Loan and Trust Co. & Elec 2 L. 10 at 10 at 6%, 10 at 685, 10 ut 69, Am. Te . et Aw, Tel. & Tel. con. Anscostia und Potomac 3 Auacostia & Poton Georgetown Gaus Ist Metropolitan R. R Potomac Electric Potomac Pot. Elec. Pow. g m. & ref. 7 Wash., Alex. & Mt. Vernon Gs. . Wash Alex. & ME. Vernon ctf. -, Ralt. & Al 5 ton Ga twy. . Rwy. and Elec. g. m. 8.0 MISCELLANEOUS, STOCKS. PUBLIC UTILITY. n Tel. & Telga Traction. hington Gus . riolk_and Was . & Elec. com. 5 & Elec. pfd. Terminal Taxi com. NATIONAL BANKS. Capital Columbls ¥ Federal-Awerican . Liperty N onat Metropoiitan - Riggs Second Nutioual Bank o 2 TRUST COMPANY. American Security & Trust...... Contineutal “Trust & rebants Nenonal 3 SAVINGS BANK. Commerce & Saviogs. | East_Washington. ecurits Sav. and Seventh Btreet United States . Washington M American bia Title. g‘:‘:lmxnn. Title. - MISCELLANEOUS. bla Graphophone com. o phophone prd C. Paper .o Merchants: Transter & Storage.. Mergenthaler Linotype , Old Dutch Market co: 0ld Duteh Market pfc Lauston Monotspe 1 Security Storage. . | Washington Market. Yellow Cab. *Ex dividond. & " DIVIDENDS. Pay- abie. Dec. 3 Stock of . Rate. Record. Company. Am 1??1': for. Dec i Am Radiator 5 Nor. 8 Am Dis Tel 34 A .15 Burns Bros A cm. % . 1 Burns Bros B om. 50 N = Columbian_Carbon X . 20 Cerro De Pasco C X . 13 Intertype ... away because I did not want the expenses while I wi away. I in- tend to go back into market in three or four weeks' time after I get my bearings and look over situatfon. 1 have paid no attention” to market while away. “I haven't changed my opinion any from last April and I still think we have bear market, but there . are numbers of stocks which, I think, have reached resistance points.” —_—— ‘The wood pulp and paper industry is the third most important indus- w3y in Canada in exports and reve- nue to the govel @R YR RN Suvanmah 8 1 pf % L 15 % 2 Nov. . 15 B {8 32} PARIS BOURSE UNSTEADY. PARIS, October 10.—Prices moved irregularly on the bourse today. ‘Thre: er cent rentes, 56 francs § eonllemep-. Exchange on London, 76 francs 10 centimes: 5 per. cent loan. 74 francs S5 centimes. The doflar Was quoted at 16 francs 42 centimes. was being for- | sold above 60 to- | rn interest requirements | under the present capitalization, with | have discounted the | effect ! good | to the future of | “ | Goodrich 61s. - { Int Mer Marine 6s. ; { Manati Sug sf 7 . | Public Service 6s. . ON e are in $1,000) . UNITED STATES BONDS. (Fractions represent _thirty - seconds. Example means 98 3-32.) Tow. Close. 90-10 99-14 97-11 97-11 & 97-10 97-11 Lib2d 4is... 604 97-1 979 Lib 3d 4%4...1119 98-9 Lib 4th 4148, . 473 879 97-12 US4%s1952. 48 98-20 £8-23 l FOREIGN. Sales. High. Low. Close. Argentine 7s. .. 101% 101% 101% | Austria 7s. 89 89 88% Belgium 7%s 100% 99% 100% Belgium 6« 96% 96% 96% I Belgtum 8x 100%_100% 100% Bolivia 8s. 84u°® 88 88 Bordeaux d 9% T9% 9% Brazil 7s.. 79 78% 8% Brazil 8s. 94 93% 94 Brazil 7% s 99% 99% 994 | Canada bs 1926, 991 994 993 { Canada 538 19 101 100% 101 Cunada 5s 1952. 99% 991 993 Chile 85 1946 104, 103% 103% Chile 85 1926 103% 103% 108% Chile $51941. .. 104 108% 104 {Chile 75 1943. . ... 95% 94% 95% {Chinese Gov Ry 6s. 2 ‘4315 4314 43% | Copenhagen 514 89% 89U B9 Cuba 5%s ctfs. 9% 91t 9% Czechoslovakia 8 93% 934 93% 109 108'% 109 97 96% 87 % 9% 9% 97 96% 96% 9614 96% G6% 100% 100 100 95% 95% 06% 931 824 934 96% 96% 96% 3 2% $2% 9% 1% T34, 785, 78 T8% 80 50% 79% 19% 30% 304 9T 99% 954 9615 95 95 8915 891 73 3% 107% 107% 914 91% 90% 96 96 98y 99 86 86 6615 671 §3° 83 1041 1043 1 1114 1z 2 101% 101% 101% 101% H MISCELLANEOUS. ! Ajax Rubberss... 5 90 Am AgrChem T¥s 40 99 {Am SMIt&R 1st s, 13 90% {AmSmit&R 6s.... 15 102 | Am Sugar Ref 6s.. 18 101% {AmT & Tev6s 1117 AmT&TcltrSs.. 58 97% 9714 |AmT & Tcltrds.. 16 92% 928, {Am Writ Paper 6s. 10 653 53 99% 991 967 96 83% 834 9714 97 95% 954 97y 971y A8% 88 9215 923, *9 6% 923 108 Denmark 8s. . Dutch East I 65'62. French Govt 8 French Govt 7% Haiti 6s Ttaly 615 125 | Japanese 1st 4 Japanese 2d 434s. . Japanese 4s. | Jergen U M 6s Lyons 6s. . Marsetlles 65 Mexico 4s etherlands 6s. ... { Norway 6s1043.". {Norway 6s 1952. . {Orient Dev deb Gs. | Paris-Ly’s-Med 6 © RENNRRI VRO A" SuRrcaRNANS ; Queensland . Rio de Jan 85 1946, { Rio de Jan 85 1947, Rlo Gr Do Sul 88 Sao Paulo State.Ss Seine, Dept of. 7s. . Serbs Crotes Slo 8s | Soissons 6s | Sweden Gs. Swiss Confed 8 Ud Kingm 5%s Ud Kingm 5145 '37 Uruguay 8s.... 894 98% 0% 101% 1014 17 onty 17 | Anaconda cv db 7s.131 | Anaconda 1st 6s. Armour & Co 412 Atlantic Refin 5. . | Barnsdall s £ 8s. | Bell Tel Pa 5. | Beth Steel 53 i Beth Beth g 00 01 5 1 1919 01 o 00 €5 13 D~ 30 19 Bl e 080 = 3 & teel pm 55. Beth Steel s f 6s. .. | Brier 1i St 1st 5%s. ison 78 D. v gen s | Bush T Bldg 58 '60. ntral Leather 5s Cerro de Pasco Sa. | Chile Copper 6s. iCinG & E bigs 2. | Commonwth P 6s | Con Coal Md 1st 5s. { Cuban-Am Sug $s. jCuba CanecvdSs | Cuba Cane cv 7530 i Dery (DG) 78 Det Edison ref 6 | Diamona Mth ! Donner Steel iDuPontde N Ti:s. | Duquesne Light 6s 104 | Est Cuba Sug 7% 100% Empire G&F Tls.. 15 92 92 v | Fisk Rubber §s... . 13 | Gen Elec deb 5s... e eaa P 29 1084 o 3 99% { Goodyear 8s 1941, | Hershey 6s 1942 o9 i Humble O&R 5%s. 96 ! Illinois Bell 1st bs. 935 { Indiana Steel 5s. .. M4 | Int Paper 1st 5s B. 84y, KCP&Lt 55 A'52 { Kelly-Spring s | Lackawa § 5s'50. . Liggett & Myrs 7s. | Liggett & Myrs 5s. Lorillard (P) 5s | Magma Cop cv Ts 10 9 n7 96 95% 109 arland Oil T1s. . Miariand oi1 5531, Midvale Steel Gs i Montana Power 5; N Y Edsn 1st 61s. !NYG EL H&P 4s. INYTel6s'41..... INY Tel4%s | N Am Edison 5 i Nor Stateés Pow bs, { Nor States Pow 6s. ; Northwst BTel is. | Pacific Gas & El 68 | Pacific T & T 68’52 {Pan-Am Pete 78 ! Phila Co 5%s°38. | PhilacCoref 6sA.. | Pierce-Arrow 8s. . { Producers & Rf §s. | Producers & R §s % 100 85% 95 109'% 104% 104% 237 93% 92 0% 89 89 100% 4 100! 107% 107% 89% £94 90% 103 901 100% 74 73% 10i% 109% T9% 99% 93% 103 o 1093 7979 991 €31 93% 58% 87% 88 96% 961 96k 96 96 16 8216 8215 221 9k 94% 94w 100% 100% 100%; 104 103 103 93 92% w2y 102 102% 102% 107 107 - 107 106 106 108 11 UL n 85% 854 E5% 105% 105% 105% 101% 101% 101% 88% 88% 96% 96y 87 87 103% 102% 109 -~ 108% 107% 107% 921 92 9214 961 96 u6w 96% 9615 961 103% 108% 93% 93% | Sharon St1 H Ss... | Sinclair Of1 7: i Sinclair Oil 6%s | Sin Crude Oil 5% | Sin Crude Oil 6s. .. { Sin Pipe Line bs. .. | South Bell Tel 5s. . | So Por Rico Sug 78 | Steel & Tube 7s. { Tenn Elec Pow 63 Tide Wat Oll 6%s ! Tobaceo Prod sf 7s Toledo Edn 18t 7s. . Unit Drug cv 8 US Rub 1stTf 5s.. U'S Rubber 7%s | USSteelst5s 1Utah Fow & Lt 5s. | Vertieptes Sug Ts. Va-Car Chem 7s Warner Sugar 7s.. West Union 6%s... Westinghouse 7 Wickwire Spen 78 ‘Wilson & Co 1st 6s. Wilson&C cv 7%s. {'Winchester A T%s. 7 Youngstn S& T 6s. 71 SHORT-TERM SECURITIES (Quotations furnished by Redmond & Ce ) . \ SocanmnelBaannSulioan CuwallaivonSaranannoana [ NS RsONAGE~D AN 96% 57 oo o 93% § Aluminum Co. of Amer. Co, of Amer. | A Cotion Ol o 5. >3 | Amer: i nda Copper 6s 1929, | Ao American Oil T3%s 1625 | Canad’an Northern 5lgs 1924 | Central Argentine Rwy. 6a' 1927, | Central Leuther 5s 1925, Chi., R. I. & Pacific 5 | Chicago Tel. 5s 1923 [.Du Pont 7¥s 1981 1 ! Federal Sugar Ref. 8 98! arp: 2 a8y Corp. 6s 1928 978 ! & It 8s 1081, 102 orthern 7s 1936..... 1 1007 1982, . ot 100 104 100 102 Hockin 5 Hombie Oil 558 | Kansas City Term. 6s -1f Kennecoft_Copper 78 1050’ Michigan State Tel. 5s 1924, | M., St. P. &8, 8. M. Gigs } Jorra's 1630, enna. R. B { Bt. Paul Union Depot 5% St hoTbuck & Co. 78 1623, Ktandard Oil of Calif. 5s 1025, Bwift & Co. Bs 1 g Tidewater Oll Union Tank Ca tern Union ) Went.nelouse E..& M. .78 1901 = 08 109 9810 £0% | 8% oo | Cong Island rf ¢s 994 | 884 | | | { 1011 | Louis & N 1011 | {Chi & W Ind 7348 | Montrl Tm ist 5 “10; 1923 (v Nev vork BONIDS ook excaace] Received by Private Wire Direct to The Star Office. RAILROADS. » Sales. High. Ann Arbor 4s. b BT% Atchison gen 16 87% Atlantic CL 1st 86% AtlanticCL cl 4s. 8 B&Oprin3ys fi& B & O gold 4 79% B & 08 101% 83% 84% 6% 95 60% 113% 1124% 9% 2% 96 100% 85 88% 87 834 324 84% 98% 6% 4% 55% 51% 4% 56% 72 afE8van v B& OSW div 3y Bklyn R T 4s 2002. Canadian North 7s. Canad North 6%s. Canad Pac deb 4s Car Clinch & O 5s. Car Clinch & G 6s. Cent of Ga 6 Central Pacific Ches & Ohlo cv Ches & O cv 43 Ches & O gn 4% Chi & Alton 3%s. . Chi B&Q gn 4s'58. Chi B&Q 1st rf 5s. Chi & E 111 gn 5s. Chl Great West CM & Puget Sd 4 Chi M &St P rf 4343 Chi M&St P 45 '25. . Chi M&S P cv 414, Chi M&St P 4s '34 CM&StPgniy Chi & NW 7s. Chi Rys 5a. .. ChiRI&P gn 4s ChiRI& Pacrf 4s Chi & W Ind cn 4 - - RN T P T =1 41 BERIABENN AReeASImO CCC&StLrf 6s A Cleve Term Gs. .. Cuba R R 8. Del & Hd 1st rf 4. Del & Hudson 53%s Den & Rio G cn 4s. Det United 438 Erle 1st con 4s. Erfe con ext 7s. ... iegends.,... ieconv4s A. Erle conv 4s B. Erie conv4sD. Gr Trunk sf db Gr North gen 7s. Gr North gen 5%s. Hud & Man ref 58. Hud & Man aj 5s. 111 Central 518 111 Cent ret 53 '55 Int Rap Tran Int Rap Tr 5s stpd. int Rap Tran 6: Int Rap Tran Int & G Nor aj 6t Int & G Nor 1st 63 Towa Cent rf 4s Kan City Ft S 4 Kansas City S 3 Kansas City S 5 Kan City Term 4s.. Lehigh Valley 6s Louis & s 2003. Manhat Ry cn 4s. Market St en 58 Mil EI Ry & L 51 M& St L 1st rf 48 M StP & SSM 63s.. T 1st4s..... &TprinssA. &T4sB...... 5. New Or Term 48 N O Tex & M in §s N Y Cer:gen 3¥%s. N ¥ Cent deb 6s Cent deb 4s 4% 758 104 INYCentriss | i I 1 i . ! Southern Ry gu 4 82 2 ? i Southe: 0% | Wabash 2d 5s... 9014 | West Shore 1st 4s.. 100% | Wisconsin Cent 4; 1018 | i i i { i | i { i i | i | i 1 i 3! Y Centcn 4s '98.. NYCenLScl3 v New Havencd 6s. . New Haven d 4s NY W& Bos 43s. Norfolk & Wends., 1 Norfolk & W cv 6s.101 Northern Pac 4s. 4 Northn Pacri 63 16 Northern.Pac 5s D. 14 Ore & Calif 1st 5s.. 3 Ore Short L ref 4s. 7 Ore-Wash Istrf 4s 36 Pennsyl gen 6s. Pennsyl gen 43, Pennsyl 618 >enusyl gold 103% | pere Marg 1st 58 to1 | Pere Mra Ist 4s 1151 | R&pid Tran 6s. Reading gen ds.... Rio G West cl4s. .. St L IM&S R& StLIM&S4s'29. StL&SFpl4sA.. 3 StL&SF prin bs. StL&SF inc6s. 854 StL&SF tL&S Fadj 6 StL&SFplés {St LS W con 4s 32, Seab'd A L 4s sta Seab'd A L ref 4s. eab’d A L adJ 58 Seab’d A L con 6s 99% | Sou Pacific 45 195 Sou Pacific ref 4s Southern Ry 1st 6s. 15% 941 684 101 544 Ry 6% Third AVe ref 4s... Third Ave adj5s... Tol SUL & V7 4s. Tol St L& W 33¢s. Union Pac 1st rf 4s Uniqn Pac cv. Virginia Ry 1st 58, Wabash 1st 3s. ... 96 By 93% ¥5 Western Pacific 5s. 5 1100200 8 TOTAL SALES (Par Value): 11am.. 2367000 12noon 8994000 1p.m.. 5037000 2p.m.. 5638000 COTTON FUTURES DO BETTER TODAY | Selling Orders Well Absorbed in Early Trading—Gains Over ¢ Yesterday. By the Assoclated Press. NEW YORK, October 10.—The cot- on market opened steady today at an advance of 12 points to a decline of 2 points, most of the active months 102% | being a few points higher on the 198% | relatively firm cables. 107% | map made a favorable showing, how- The weather ever, with nothing to indicate that the gulf storm situation reported yes- terday had -developed any more 10344 | threatingly overnight and the weekly report of the weather bureau also made a favorable showing. These features led to some scat- ! tered southern and local selling which sent prices off a few points after the call, and reactions were reported in Liverpool. Offerings were absorbed by buying which again seemed to come partly from the trade, and after selling off 10842 | 5°27.46, December rallied to 27.60 on covering and reports that the spot basis. was firmer in the southwent' late yesterday. NEW ORLEANS, October 10.—Bet- | ter weather -over the belt than had been "expected caused declines of 6 to 9 points in the price of cotton soon fter the opening today, but after ecember traded at 26.88, the demand strengthened, apparently on the view that while the weekly crop-reports ‘rom the government werg favorable n relation to mention of the progress of picking and ginning, they were not encouraging as an indication o the ultimate outturn of the crop. At the end of the first half hour of bus- iness, prices were 7 to 15 points over yesterday’s close, with December up 100% |{o 27.12. NEW YORK, October 10.— Cotton | futures (11:45 a.m.).—Bi October, 28.04; December, 27. uary, 21.10; March, 21.16; May, 27.14. NEW ORLEANS, October - 10.—Cot ten futures (noon).—Bids, steady; Oc- tober, 27.34; December, 57.22; Jan- . 107%- Uary,.2i.01; March, 26.99; May, 28.83. | the local 1024 | CINANCIAL, Bz Grain, Produce and Live Stock’ -‘ LOCAL WHOLESALE MARKET. A car of oranges from Florida—the first of the season—recently reached market, California fruit having been on the market some time. ‘The market is reported as being stead: Grapefruit s being received in ‘| 1arge quantities and is in fairly good demand. Prices of both frults are re- ported as being about the same as usual at the beginning of the season. String beans, in market the year round, are being received from South 1y exhausted. Later, Florida will sup- ply them for the local market. Cantaloupes and watermelons are fast disappearing, honey dews tak- jing their places,’ Long Island cauli- flower is plentiful, while a scarcity of lettuce is reported, and there is a plentiful supply of New York celery being received. h, selected, can- er dozen, 42; average recelpt storage, 34a35. c Live poultry—Roosters, per lb., 18; turkeys, per Ib., 35; spring chickens. per b, 28: keats, ‘young, each, 50a 70; fowls, per Ib., 26a28. Dressed poultry — Fresh killed | spring chickens, per 1b., 33a38: roast- ers, per Ib., 30a35; hens, per Ib., 32a33; turkeys, per lb., 38ad0; keats. young, each, 80a85; roosters, per Ib., 20. Live stock—Calves, choice, per 1 123%a13; medium, per Ib., 11a12; thi per Ib.. 8a10. Lambs, spring, per Ib. 14. Live pigs, 3.00a5.00 each; lv hogs, per Ib., 8%. ket, 50a2.50. California oranges, per crate, 5.00a6.50; Florida, Lemons, per box. 6.00a7.00. Grape- fruit. 4.00a6.00. Peaches, per basket. 1.25a2.50; half bushel basket, 758 1.25. Grapes. Cencord. twenty-pound basket, 7521.0 rado Lopes. standards, 1.00a2.00: flats, 50a75. Vegetables—Potatoes, per bbl. No. I 3.5024.00; No. 2, 1.50a2.00; New potatoes, round, per bag. 2.75a3.00; New Jersey, giant polatoes. per bag, 2.50a2. new sweet potatoes, 2.5024.00 per bbl. New York lettuce. per crate. 1.00al. Cabbage, north- : 30 pounds: nearby . Eggplant, per . 75a1.00. Tomatoes. half bushel basket, nearby. 75. Beans, 3.00a 6.00 per bbel, New York celery. per crate, 4.50a5.50. Squash, 2.0033.00. Pep- pers, per crate, nearhy, & per bbl 0. Spinach, per crate. 1.00a1.25. Home-grown lima beans. per quart, 30a35: New York cucumbers. ver bushel. 2.00a3.00. Sugar corn, per dozen. 15a30. GRAIN AND PROVISIONS. BALTIMORE, Md.. October 10 (Spe- clal). — Potatoes. white. 100 pounds, 75a2.00; 150 pounds. 1.00a3.00; sweets and yams, barrel, 1.00a2. 25a50. Beans. bushel, 1.00a1.75: bushei, 1. 00; brocecoll 100, 4.00a6.0 cauliflow dozen, cucumbers, bushel. egg- basket. 35240; lettuce, bushel, onions. 100 pounds. 2.00a3 bushel, peppers squa ket, 15265 toma packing stock. Turnips. bushel, 50a6! Tel, 1.50a5.00; bushel, 50a 20240. Cantaloupes. crabapple lima bushel, 15225; cab- carrots, 100, 4.00a hamper, 2.7523.00; . 12a kale, 30a60; toes bushel, : dam ; peaches. 50; basket. 50al.0 .50a4 00; basket, 15 Grap ox. 2.90a4.00; quinces, bushel, 1.50a1.75. Selling Prices on Grain. i Wheat—No. 2 red winter, spot iy red winter, garlick: spot. No. 3 red winter, ga .04%: No. 4 red winter, <pot. 1.01%. s~ Bug lots of nearb: 1.02 and 1.06: 636 bushels of No. 2 red winter, garlicky, at 1.05%. Corn—Cob, old, icorn, spot, no quotations; track eorn. low, No. 2, old or better, 1.15 and {sons. {bushel. Pears, sold at ne. Oats—No. 2 white. new, 5 No. 3 white, new, 501 and 51. Rye-—Nearby, 75a85_per bushel; No. 12 rye. spot. 8012 per bushel Hav—Receipts. 63 tons. market is firm for the better grades of timothy and light clover mixed. There is a fairly constant demand at the following quotations 1, tim- 00 per ton: No. and L Noi T, 26.00; . clover, .and % .00; No. 1 wheet, t. 14.00a15.00, DAIRY PRODUCTS. BALTIMORE, Md., October 10 (Spe- cial).—Live poultry—Spring chicken: pound. 22a26; leghorns, 20a23; v hens, 18a27; leghorns, 18a22; ¢ld roo: I ters 14a1l ducks, i pigeons. p Loss off; native and nearby 28; southern, 36. eamery, good to pound, 44a47ie; prints, 48a50; !ereamery, 38a42; ladles, 34a3 ’30332; process butter, 38a39. i CHICAGO LIVE STOCK MARKET. CHICAGO. October 10.—Hogs—Re- | ceipts, 24,000 head: mostly Steady: bulk, {good 'and choice. 180 to 325 pound {averages, 7.50a8.00: top, 8.10; desire- {able, 150 to 170 pound averages, 7. Packing sows, 6.70a6.90; betier | grades, weighty slaughter pigs, 6.50 3 ~ tle—Receipts. 76,000 head; very : top matured steers, grading choice, 2.00; few loads yearlings and handy weight, 10.00a11.00; most killing classes, unevenly weak to 25 low canners, cutters and bulls, stead vealers, 25 higher; stockers and feed- {ers, fairly active; bulk, weighty sau- !sage bulls, 4.25a4.50: bulk, stockers jand feeders, 5.50a7.0 | Sheep—Receipts, 26,000 head; active; best fat lambs, steady to stron iculls and feeding lambs, steady; kill- ling sheep, scarce. steady to strong; ; top to eity feeding lambs, mostly fair] | most natives, 13.25a13.5 ! butchers ,13.75; }12.75a13.. Today’s Chicago Prices. | CHICAGO, October 10.—With the igovernment crop report regarding | wheat construed as bullish, the wheat ! market' showed a renewed upward itendency today during the early idealings. The government estimate of the domestic yield of spring wheat iwas not only smaller than private reports had indicated, but was the smallest since 1919. As a result the market received fresh support, and little disposition to sell short was manifest. The opening, which varied from 3 lower to %a% up, with De- cember 1.07% to 1.07% and May 1.12 sag and then by a moderate general advance. { Corn and oats rallied with wheat, although at first the government re- port about corn had a bearish effect. After opening % to % to % lower, December, 743 to 74%, the corn mar- ket sagged a little further, and then scored slight gains. Oats started unchanged to %a% off, | December, 42% to 42%, and later ad- ivanced a trifie above yesterday's finish. > Proyisions were firm in the absence of any aggressive delling. TREASURY CERTIFICATES. (Quotaticns turnlshed by Redmond & Co.) ——N00D, ——— i Ria Offer. l4s' December 13, 1 99 29-32 100 48 March 15, 1934. 4ia9 March 15, 1924. 100 | B%s June 15,1924, 100 1116 100 13-18 Si4s September 15, 100 11°16 100 1316 | $328 Miren 16, 1025 100 100382 | 4148 June 15. 1925 9 W% 8 December 15, 1 99 99! e mber 16, 16387 90118 ‘80316 Seren: 627.-.... 1004 100% 4 I March 15, 1627 1548 Decemver” 15, 1937, w0t 90% FREIGHT RATES REDUCED, I OTTAWA, October 10.—The board of railway commissioners, in a ma- jority decision, today ordered a re- duction of 10 per cent in the rates on grain for export from prairie to Pacific coast points. . . . - g ~ Carolina, the nearby crop being near- | ’ Green fruits—Apples, new, per bas- | 3.0026.00. | Niagara, 1.76a2.25; Colo- | Kale. | basket, | 5.25 barrel; No. 2 The hay ! old | 1 30a32; store-packed, 28; dairy prints, | to 1.12%, was followed by & slight| 100332 | IN STARTLING RISE Jumps Three Points on Sales - of 580 Shares—New Head for District Guaranty Co. | Common stock of Washington Rail- i way and Electric Company lived up to }the prophecies of its stanchest sup- | porters when it scored a sensational 2-point advance to 69 on the Wash- Ington Stock Exchange this morning. A total of 580 shares were sold. The opening of the Issue was quict and featureless, despite a betterment of % of a polnt over Its previous close. Selling of ten-share lots ad- vanced the price steadily to 69, when the hughest block vet sold, 500 shares was thrown on the market bought at the day's high Washington Railway a 3 y and Electric preferred “also enjoyed unusual tvity, but at unchanged prices. Of 190 shares were recorded at lh%gfl'!\'alllnl: level. e remainder of the sesslon was dull.” Washington Gas 6s of 195 old at par and a half, Firemen | Insurance Company brought 18, Lan- ston changed hands at 74%. Capital i Traction stock sold for 100'; and three shares of Washington Loan and Trust Company sold at 351, Westlake Rewigns Presidency. Willlam B. Westlake, preside, . Westlake, nt o the District Guaranty Corporatic since its inception several years ag retired from his executive capacity a meeting of directors yesterday ar. was_ succeeded by Hugh H. Han | president of J. E. Hanger, Inc., w has been treasurer of the finance agency since formation. Mr. Wes lake retains his seat on the board. D. W. Fox, local manager of Hyde-Murphy Company, was to the office of treasurer, succeeding: Mr. Hanger, and J. A. D. Garber o/ the supervising architect’s office of the Treasury Department was added to the directorate. Other officers were re-clected follows: John Loughran, vice presi- dent; Edward L. Staudermann, secre- tary; Danfel O'Haire, auditor, and Price & Dulaney, counsel Tranasit Co y Losing Money. The Washington Rapid Transit Company continues to operate at loss, September's deficit amounting $8,596, a statement of earnings file with the Public Utilities Commissio tlis morning shows. In August, 1 the compa. lost $10,806. Reverses of $1,492 were sustained in September of last year. Totil operating revenues of th carrier amounted to $23.0 durin the past month, with expenses a; gating $31,466. Revenue pass decreased fo 287.589, in contrast 98 carried in September of 1 ana 184 ion of P Banking, Zh Raymond B. Dickey, member District Bar Association, lectures b fore the commercial law class ‘ontracts.” Tomorrow night Pro F. J. Donohoe of Catholic University will discuss “Economics” for the edi- fication of the advanced class. All Imeetings start at 8 p.m. At the get-together meeting held last night chapter officials announc the acquisition of new members su ficient to bring the total embershin {of the Washington body to 1,000, {which was the set goal at the hegin- {ning of the membership campaign {begun ten days axo. Members of the chapter who suc- cessfully completed cou in_ the leducaticnal work of the institut: were awarded certificates, and spe- lecial awards were gi honor stu- dents. The cash priz annually awarded by Charles_J. Bell, president jof the American S&curity and Trust {Company. were_won by John De La the easury Departmcs N Burnetta Bl {Treasury Departmen Calvo of the Liberty > {810. The Washington Clearing clation prizes were h, § n {and Tr {F. Bro and Trust ond honors I Denaldson. president. Commercial National Bank, rded cash prizes to the employes the bank who su fully com- th anda s s: Lewis W. B Joseph oldney, Robert C. Daniel and Enoch Johnson, $50 each. Mr. Johnson vas awarded an additional prize of for completion of the elementary course. Certificates were awarded to hirty-three graduates from andard cour rty uates from the elementary cours: ] Bonds Offered Locally. Dillon, Read & Company, and Cr iParris & Company today offered ically $10,000.000 of thr year, per cent bonds of th Hansas City Terminal Railway at 99%, to vield |about 5.75 per cent. |” The Londs are guaranteed jointly and severally by $13.000,000 of 4 per cent obligations of fwelve transcon- {tinental lines. {"A brisk local demand was reported. } Market Flashes | at Today’s Close | | The Shell Union Oil Company today {declared a regular quarterly dividend {of $1.50 on preferred stock. The di- i rectors voted to offer to the common | stockholders of October 22 the right i to subscribe to 2,000,000 shares of ad- I dittonal no par common stock at $10 a share. The right to subscribe wili {be in the ratio of one additional shave | for each share now owned. | Ex-Chancellor Cuno, now in America, ihas forwarded the German govern- ! ment's proposal to group of Ameri can_banks for loan to Germany of | $125,000,000, which credit is intended primarily to finance purchase of raw materials. Industry would give as se curity mortgage of goods and prop 1erty. New business of the United States | steel Corporation in the first nine {days of October was reported as sub- {stantially better than in the same {period in September. Plants are ope- {rating at slightly under $0 per cent of capacity. The Majestic arrived with sixty three boxes of gold consigned to or- der and twenty-four boxes consigne to Kuhn, Loeb & Co. Total value of the consignment is £455,300. Middle States Oil six months, end {June 30. Net earnings before federal itax and dividends, $2,960,5! against $3,586,798 same period 19: The explanation for the recent sell- ing in Shell Union Oil came with an {offer to shareholders of 2,000,000 ad- ditional shares of no par common stock at $10 a ehare. Union Tank Car Company declared regular guarterly dividend of $1.76 on preferred and $1.25 on common, both payable December 1, record Novem- iber 5. Ilinois Central raiiroad de- clared regular quarterly $1.75 { common. on National Biscuit net profits, quarter ended September 30, equal to $1.36 a share on common stock. Net earnings for nine months ended September 30 equal to $3.79 & share on that issue. RATES ON BAR SILVER. LONDON, October 10.—Bar silver, 31% pence per ounce. Money, 2% per cent. Discount. rates—Short bills, 215-16a3 per cent; three-month bills, 3 3-16a3% per cent. NEW. YORK, October 19.—Bar sil- ver, 63%; Mexican dollars, 4834, RALWAY COMMON "