Evening Star Newspaper, October 19, 1923, Page 30

- FINANCIAL, | SHIPPING STOCKS UP; NEW_YORK STOCK EXCHANGE TIRE SHARES WEAK - FINANCIAL. TREASURY ScOUTS THE EVENING STAR, WASHINGTON, D. C, FRIDAY, OCTOBER_19, 1923. STRONGER TONES EVIDENT IN BONDS [ov s vore BONDS o menaves] Received by Private Wire Direct to The Star Office. (Sales are in §1,000.) { UNITED STATES BONDS. Grain, Produce and, Live Stock LOCAL WHOLESALE MARKET. Falling weather was given a hearty Low. Close. | 284 28% ! Nat Supply pf.. 61% 61% | Nevada Copper. High. 29% 614 Open. High. 56 56% 1% 1% RAILROADS. Ady Rumley pf. Sales. High. Low. Ann Arbor 4s. . . Close. | Afr Reduction. . B4% bd% bi% who Goodrich and U. S. Rubber Hit | New Lows—=Good Buying in B. & 0. Noted. BY STUART P. WEST. Special Dispatch to The Star. W YORK, October 19.—The princi- ements in the stock market to- o upward. There were one or ble exceptions, like the Good- Tich stocks and United States Rubber, which made new lows in response to the passing of the Lee Tire dividend and the publicity given the statement that tire prices were the lowest on record. But, in the main, operators on the short side were more timid than they have been in some time, recognizing that after a week of sharp breaks in individual s the general body o the list has shown no signs of lqui- dation. The inference was drawn t the market was well sold out and traders w work _on the long side wherever any initiative was shown. Shipping Stocks Strong. Shippin stood_out promi- nently again under the lead nf Mer re preferred and Ameri- | national. A lot of buyin Yook place on the theory that at their low prices they were below their rdless of the in the however, it ne | are > d nd un- an- up- | on ter or ton- | rofitable rrving trade these that the Jap L larger de other i inquiry recovery in last Yew twofold s more of ship ters stocks during th therefore, had Pan-American Shares Drop. he Pan-Americ again on v uld do ve ports that the com 11 with an increas: in working ¢ 1d the majority opinion was that this would be tained through new financing. id that an announcement to this effect was to be looked for next week. The other idea w the next one or two quarterly divi- s might be paid at the regular ention was to raise the v funds later on by reducing tribution to shareholders. Switching In B, & O. equipments | the pressur ob- te and slowly hardening, i from the arently there switening _into -5 D Ohio. conside nd Ohio from oth b tocks like those of the north- western group, which are not far re- moved from the former in their sell- ing prices and which are not making the favorable sh ving in earnings. Further information is current re- | garding the strong trade situation of United States Industrial Alcohol *hich in Pecent months has increased e of alcohol, its chief produc “hest level in three year: stood that the com: trawn from the alcohol mar- +his is taken as an in ation S of alcohol will be Another tw cent lon ¢ w'nld not be surpr Stewart-Warner Gossip. Stewart-Warner directors are sched- uled to meet Saturday, and it was reported today that only the regular 0 quarterly dividend will be au- ‘The more sanguine earlier ar had looked for an extra sbursement late in 1923, but the slowdown in the automobile and the growing disposition toward conservation in dividend pol- icies of companies which deal with the motor concerns, have had their effect Goodrich stocks, both common and preferved, sank to new low levels, fol- lowing the passing of the Lee Tire dividend and the recent price-cutting. Goodrich preferred at 69 seemed v low for a 7 per cent stock to selling. Dividends on this isaue have been paid since the organization of the Goodrich company in 1912. The 7 per cent distribution has been main- tained uninterruptedly since 1913, Noth- ing has been pald on the common for a few vears. In the first six months of 1923 the indicated earnings on the common _after preferred dividends were paid were approximately $2.85 a share, as against only 2 cents in the corresponding period of 1922. MARKET CLOSES FIRM. on = i Less Forced Liquidation Noted in Today’s Trading. By the Associated Press, NEW_YORK, October 19.—Stock prices displayed a steady tone in to- day's market after an early attempt | to settle the general list by heavy of- ferings of special shares had met with failure, The buying, which came largely from professional sources, was influenced, in part, by easier money rates. Sales approximated 600,000 shares. The closing was firm. Further short covering and an apparent ces- sation of necessary liquidation car- ried the leading shares slightly high- er in the late dealings NEW RICE MARKET. NEW ORLEANS, October 19.—Trad- ing in rice futures for the first time in_this country will be inaugurated here November 5 according to an- nouncements belng distributed by the Loulsiana Sugar and Rice Exchange. NAPHTHA PRICES REDUCED. NEW YORK, October 19.—The Standard Oil Company of New York today reduced the price of naphtha for the painting trade 2 cents, to 15% fents a gallon on tank wagon basis. FOREIGN EXCHANGE. October 19, 1923—12:20 p.m. \Quotations furnishied by W. B. Hibbs & Co.) Nomina! Selling checks, gold value. today. AR5 4508 Btockholm, crown By the Associated Pre— NEW YORK, O\ exchanges irreguldver 19.—Foreign eents): (reat BritainQuotations (in cables, 4.52%; sixtwmand, 4.523; danks, 4.49%. France,y bills on cables, . Italy,' deand, .0598; tables, Beigiuand, .0452; :051812; cables, .0519. Ger demand, . .0000000001; cables, .00y, de- Holland, demand,’.3913; cabl000001. Norway, demand, .1543. Sweq,3918. mand, .2634. Denmark, demand. d Switzerland. demand, .1791. Spaifb0. mand, .1348. Greece, "demani. ge- Poland,” demand, .000001% Czech: slovakia, demand, .0298. ‘Jugosiavi demand,” .0120. ' Austria, demand -000014." Rumania, demand, 00471 Argentina, demand, .3225. Brazil, de mand, .1200. Montréal, .98 25.35. © ©°" C. & 0. CAR LOADINGS UP, RICHMOND, Va., October 19.—; loadings on the Chesapeane and Ovis railway broke all records last week Sptals of 17,605 cars were loaded on \hesapeake and Ohio lines during the six days ended October 13, an increase of 116 cars over tha week, that of September 20 C|° DSt Ajax Rubler... Alaska Gold. Alaska Juneau. All Am Cable Allfed hem. | Allied Chem pt. Allle Chalmers. Am Agr Chem.. Am Beet Sugar. Am Bosch. Am Brake Shoe. Am Can.. AmCanpf.... Am Car & Fay. Am Chicle Co. Am Cotton Oil. Am Cot Ol pt.. Am Druggist Am H & Lea pf. Am Ice . Am Internat'l. Am La France. . Am Linseed pt. . Am Locomotive Am Metal: Am Ship & Com Am Smelting AmSmeltpf. ... Am Steel Fdy. Am Sugar. ... Am Sumatra. .. Am Tel & Telew { Am Tob pf (n). Am Waoolen Am Woolen p?. Am Writ Prpt tracnnda Ann Arbor Armour & Co pf. | Arnold Constab 2es0 D Gonds Asso Oil (new). Avoriann | Atlan Bir & Atl. Atlan st Line Atlontie cuig Atl Refining pf. Atlas Tack .| Auto Knitter. dwin ior 1t & Ohin Barnesdall (B) Rayuk Bros. Beechnut Pack Bath Sre Beth §t1 7% (n) Rooth F.sh..... Bkiyn Rap T 1p.. Butte Copper Butte & Super. Calif Pack. ““ailf Petrol Calif Petrol pt. “uliahin Z Cannatan Case Plow Wks. ¢ entrz) Leath Cent Leath pf “erro de Pasco Chandler Mot. “hesan & Ohio Ches & O pf w 1. Chi & Alton... Chi & Alton pt. Chi & Ell pf. ChiGrt West. . Chi Great W pf. Chi Mil & StP. Chi Mil &St P pt Chi & Northwn Chi R I & Pac Chi R1&P6% pf Chi R I&P 7% pf Chile Copper .. Chino Copper. Coca-Coia. olumbia Ga: olumbia Graph Col Graph pf... Coiumbn Carbon Comp Tabulat.. Cons Clgar. Cons Gas of NY Cons Textil ContCan...... Continental Mot Corn Products Corn Prod pf... Cosden & Co. Crucible Steel <uban-Am Sug Cuba Cane Sug. Cuba Cane S pt. Cuyamel Frult. Davidson Chem D Lack & West. Detroit Edison Dome Mines. .. Dupont (E 1) Eastman Kodak Elec Stor Bat. Elk Horn Coal.. Endicott-John Erie. Erle 1st pf. Erie 2d pf... Famous Plavers Fed Mines & S. Fifith Ave Bus. . Fisher B of O pf. Fisk Kubber. .. Foundation C Freeport Texa: Gen Am Tk Car. {Gen Am Tk pf. Gen Asphall Gon Baking. Gen Cigar. Gen Elec spl Gen Motors Gimbel Bres. Goldwin Corp. Goodrich. Goodrich pf. Glidden. .. Gt Northern pf. Great Nor Or Gt West Su pf. Guantana Sug Gult St Steel. .. Hanna (M A) pf. Hartman Corp.. Hartman rights. Hayes Wheel. Hendee MIg. Houseb'd Prod Houston Oll. Hudson Motor. Hupp Motors. Illinots Central Ind Oil & Gas. Indiahoma. Interb Rap Tr In Ag Chemical. in Combust E.. Int Harvester. Int Mer Marine Int M Marine pf. 1nt Nickel. Intl Paper (sta). lavincible Oll. .. Iron Products Iron Prod ctfs Island Ol hennecott. . Keystona Tire. Kinney G R.... Kresge (55).... Lee T & Rubber. Lehigh Valley Lima Locomo... Loews Inc. . . i Loose-Wil 1st. . Louis & Nash. .. Mack Truck: Macy Co. Magma Copper. setlinson & Co. Manila El Corp. Manhat El Sup. . Man El inv guar Maracaibo Oil.... Market StR 2d. Murland Oll. Martin-Parry. Maxwell (A). Maxwell (B) May Dp Store: 1ami Copper. iddle St Oll. Kan & Tex.. Power. Montg' Moonpyvard. . Motner 1% Nat Biscuit), Natl Dept Stégy Enamel. Natl Ry of M adf, 100% 3% 854 16 88% 161 6% 26 96t 1 110t 14w 116 104% 4% 1% 12% 1% 204 3% T% 26% 11 81 B 9% 22% 8% 47 38% 38 2% 5% % 1% 96 63% 107 40 12% 34 25 1% 93% 6% % 1% 96 624 107 40 12% 34 23 1% 92% 106% 156 1% 6% 18 64 96 62% 5% | NY Alr Brake. % | N ¥ Central. 1% NYC&StLpf(n). 87% 874 I NYNH&Harttd 119 12 { Norf & Western 101% 102 {North Amer.... 20% 20% North Pactfic. 504 b51% Oklahoma Prod. 1% Otls Elevator.... 121% Otis Steel. . T Pacific Mall. Pucific Oll. ... Pac Tel & Tel.... Packard Motor Pan-Am Pete.. 64’ Pan-Am P (B). b1% Penn Coal & Cke 36% Pennsyivania. 417 Penn Seabd St1. 1% People's Gas 89% Peoria & East 9 Fere Marquette 40% Philip Morris 21% { Phillips Pete.. 23 Plerce-Arrow . 8% I'ierce-Ar pf. Plerce OIl. Pitts & W Va . Pressed St Car. Produc & Ref. Pub Service. 86 36 100% 101 % 121% K 9 a8 87 11% 9 88% 87 11% 65% 623 36% 1% 1% €0 9 40% 21% 2819 8% 20% 1% 89 444 21% 424 116% 53 17% 112 1% 87 12% 6% 330 4 Punta Aleg PureOfl.... | Ry st1 Spr pt. 1:aprd Tran See Rap Tran Sec pf Ray Con Copper Reading. Remington Replogle Steel Rep1r & Bteel Rep Ir & St pt. Rey Tobac (B) Royal Dutch. 3t joseph Lead an Fran n Fr pt Southwn €t L South pt Savage Arms uite Stores bouard Air L 1 Roebuck Seneca Copper. “hell Unlon Shell Tnlon pt. Simms Petrol. . Simmons. . tnelatr Of1, inclalr pf. Skelly Of). ... Sloss-Shemnla, So Porto Sugar. outh Pacific. . outhern Rwy. outheen Ry pf picer Mg pf. .. ~i Ol of Callf. . stand ONlof N J StOfl of N J pf. Sterling Prod. Stewart-Warne) Strombgg Carb. Studebaker. ... ubmarine Bt. Sweets Co of A. 14% 20 % 25 18% 83, 16% 40% 51 86 829% 664 88 613 825 116% 55 #3% 611y 96% 10% 2% 8% 4038 Tenn Covper. . Texas Company Tex Gulf Sulph. Texas & Pacific. Tex &P C & Oil. Timken Bearing Tobacco Prod. .. Tobacco Prod A Trana Cont Ol Transue & Will. Underw'd(new). r Pacific Un Cigar Strs. .. U1d Retat! Strs. U'S Cast I Pipe. {CSCastir Ppt. C S Food Prod G S Hoftman M. { S 1ndus Alco. U S Rubber. U S Rub 1st pf U S Smelt&Ref. 17 S Stee! U S Steel pf. Ctah Copper. Utah Securities. Vanadium Corp. Van Raalte. Va-Car Chem. Va-C Chem pf. ValrCoal &C.. Vivadou. Wabash. Wabash pf Waldorf (new). Web & Hellbrn. Wells-Fr Exp. West Elec pt. Western Md. ... Western Md. 2d. ‘West Pac pt 56% Western Unlon. 105% West Alr Brke.. 79% Westhse EI&M. 67 Wheeling&LE. 6% Wheel & LE pf.. 10% White Eag Oll.. 213 White Motor... 484 White Ofl. Wilson Co Willys-Overid. Willys-Overl pf. 68 Woolworth..... 259 Worthington... 23% Wright Aero... 10 Youngstn Tube. 64% 64% 64% 64% High. Low. Last. Call Money..... 4% flfi' “ HOURLY SALES OF STOCKS. 11am..... 160 300 12m.......250 700 1pm..... 386 400 2p.m 475 000 DEEPER HUDSON PROJECT INDORSED BY HENRY FORD ‘Will Aid Scheme Which Calls for 150 Miles of Federal Dredging. By the Associated Press. DETROIT, Mich, October 19.— Henry Ford has indorsed the deeper Hudson project, which calls for fed- eral government dredging of the Hud- son river to Albany and Troy, 150 jmiles above New York, it was learned today following a conference between the Detroit manufacturer and a dele- gation from the two New Yogk clties, Mr. Ford’s approval of the plan, and his promise to do whatever he can to put it through was announced in a formal statement issued by members of the delegation late yesterday. “As Mr. Ford vlews It” the state- ment sald, “the deeper Hudson proj- ect would bring deeper sea ships 150 miles nearer the great lakes and other commerce-producing centers of north- eastern United States, and effect a great saving In freight. He told the committee he was amazed, after a study of the situation, that the Hud- son had not been deepened many years ago.” Mr. Ford has a new-plant at Green Island, at the head of tidewater on the Hudson and the terminal of the { proposed deep channel. RAW SILK PRICES DROP. Charges in New York Getting Down to Yokohama Levels. Special Dispatch to The Star. NEW YORK, October 19.—Raw silk continued its descent toward the level of Yokchama prices in today's mar- 57% 18% T 88 574 873 2 80 384 1£T% 4 170% 5 28% 81% 4 15% 50 341 86% 20% 87% 119 57% 15 29% 32 8 22y 52% 15% 9% 30% 16 13% 38 12 9 16% 56% 105 79% 67 6% 11% 21% 484 % 20% % 6% 264 23% 9% 9% 125 171% S 38 80% % 15'% 50% 34% 87% 20% 87% 118% 57% 15 28% 32 8 22% 52% 16% 9% 30% 16 13% 38 11% 9 16% 15 28% 82 8 224 524% 6% 9% 30% 16 134% 38 1% 9 16% 561 105 9% 57 6% 104 21% 48% b 20% 634 65% 259 23% % 20% 6% straight down the list. This brings the level almost to Yokohama's quo- tations, and business picked up some- what, The cotton moods markets were' firm at Thursday's levels, but with a decreased volume of sales. Quotation on 64 by 60 print cloths was 10%, and on 68 by 72, 12 cents. Relapse. From Korsaren, Christiania. He—"What do _you say to a honey- moon in Europe? She—"But, dearest, yo afrald I am of seasickne He—"Yes, but vou ought to know that love is the best remedy for lh.&." She—*“Pe: np-—hu&—uflnaflx ‘I market. | ported for securities of widely vary- Government Loans Slightly Reactionary—Foreign Group Holds Firm. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, October 19. A better tone was evident i in today's bond i Good buying orders were re- ing grades. It might have been ex- pected from the tendency of money rates to ease oft that high-grade! bonds would be in demand, but to- day's inquiry was not limited to se- curitles in the gilt-edge class. Lib- ertys and United States government loans were even very slightly re- actlonary. The high-grade rails and industrials were firm, with not much change In price. There were frac- tional advances in some of the second grade obligations, such as Hudson and Manhattan refunding 58, which | may have been responding to the favorable earnings statement. Some Firm Issues. A better example, however, was the firmness shown by American Sme’ (ng and Refining first mortgage o8 and 6s. | The two are equally secured ana sell on a 5.7 to 5.8 per cent basis. That this grade of bond xhould be in demand s a perfectly logical ce- velopment. Reasonable security com- bined with attractive yield ought to make for activity among bonds like these. For a long time now, however, of the investment and specula tion has been monopolized | by the very high-grade savings bank issues on the one hand and the ex- | treme speculations on the other. The genuine fnvestor theoretically should take no interest in either of these, but rather In obligations returning 5i to 6 per cent. In this respect the day's trend was distinctly encouraging. Numerous Special Moves. There were a number of speclal moves where the bonds were re- sponding to the outlook for the par- ticular companles concerned instead of to the market in general. Marine 6s, for instance, were strong in sym- pathy with the advance in the stock. Seiling on a more than 8§ per cent basis it was quite natural that the bond should advance. Virginla-Car- olina Chemlcal issues rallied slightly after Thursda sharp break, but were still heav orthern Pacific bonds, all were llkewise heavy in sympathy with the stock Notwithstanding thelr admittedly high Investment rat- ! ing all are selling at about the lows | of the year, even the prior lien ds, the first mortgage on the system, being around the low point. Forelgn Bonds Quiet. Foreign bonds were without par- ticular feature except the rally in the Bolivia 5s. It is a little remark- able that foreign lssues have been so little affected by the cabled reports of the chaos in Germany. MARKET FIRMS UP IN COTTON TRADING Scattered Offerings Soon Taken After Opening—Bullish U. §. Report Expected. issues, | By the Assoclated Press, NEW YORK, October 19.—The ap- pearance of a few October notices caused scattering near-month liqui- dation in the cotton market at the opening today. first prices being 1 to 21 points Tower. The initial offerings were quickly absorbed, however, and the market soon firmed up on un- favorable weather in the south and reports that the Department of Ag- riculture would issue a supplemental report giving the indicated crop as of October 25. This report, which Is to be published on November 1, was evidently expected to make a bullish | showing, and buying became active during the early trading, with Oc- tober_advancing from 29.00 to 29.27, and December from 28.70 to 28.95, or 4 to 12 points net higher. Market Later Improves. NEW ORLEANS, October 19.—Poor cables and less unfavorable weather over the belt than expected put the cotton market 15 to 18 points lower today during the course of the open- ing call, December sagging to 26.18. A little later the demand strengthen- | ©d on reports that large New England mills, which have been closed, would reopen Monday. At the end of the | first half hour of business prices were 11 to 14 points higher than the close | of yesterday, with December up to 28.47. Quotations at Noon. NEW YORK, October 19.—Cotton | futures 11:45 a.m. bids steady. De- | cember, 20.23; March, 26.81; May, 25.83. | NEW ORLEANS, October 19.—Cot- ton futures noon bids_steady. Octo- ber, 28.90; December, 28.68; January, 28.56; March, 28.55; May, 28.40. ST e e LIVING COSTS GO HIGHER IN FRANCE EACH DAY Statistics on 100 Commodities Given as Police Open an Investigation. By the Associated Press. PARIS, October 19.—The cost of liv- ing In France is increasing daily. Taking the cost in 1914 as an index figure, statistics for 100 commodities | today give the number as 331, against 289 for the corresponding period last year, and there seems no reason why this will not reach the previous high- water mark of 370, which was attain- ed at the end of 1919, The index figure for twenty food- stuffs now stands at 333. Coal, which cost 65 francs a ton in 1914, now sells | for 270, while shoes have risen from 18 to 72 francs a pair. The prefect of police in Paris has started an investigation to determine the causes of the rise and to seek methods best adapted to combat fur- ther increases. PARIS MARKET STEADY. PARIS, October 19.—Prices were steady on the bourse today. Three per cent rentes, 65 francs § centimes. Exchange on London, 75 francs 57 centimes. Five per cent loan, 74 francs 35 centimes. The dollar was quoted at 16 francs 691 centimes. MILLS SHORTEN HOURS. LEWISTON, Me., October 19 (Spe- kets, prices being clipped 25 cents jclal).—The Bates Manufacturing Com- pany here has decided to go on a bree-day-a-week schedule immediate- ly. This is taken as a further Indica- tlon of slack times in ginghams, com- ing as It does on top of the Amos- Keag shutdown and the curtailment of the Everett and Massachusetts cot- fon mills. Altogether 20,000 looms are affected. P — SEABOARD'S TRAFFIC. RICHMOND, Va. October 19.—The Seaboard Alr'Line railway continues to report increases in trafic move- ment. Loads moved during the week ended October 15 numbered 37,453 sgainst 34,878 for the same week last sar. Total loads moved during the rst' half of the month, number: 79,135, as against 73,933, I Chile 85 1926.. | Chinese Gov Ry §s. | Denmark 6s. ! Japanese 2d 4%s. . + Japanese 4s. | Jergen U M 6s | Marseilles 6s i Mexico 4s ' Montevideo 7. | Swiss Confed 8 | Tokio 5s..... i Bell Tel Pa 6 1 ‘| Bklyn Ed gen thirty - seconds. 2.) Sales. High. . 217 99-28 119 97-23 . 121 8716 Lib3d 4%s... 810 98-14 Lib4th4%s.. 314 97-20 US4%s1952. 730 9 FOREIGN. Sales. High. Argentine 7s. . 9 101% Austria 7s 19 88% Belgium 74, 19 100 Belgium 6s. . 13 97% Belgium 8s. 5 100% Bern 8s. 1 108% Bolivia 17 88 19 79% 21 12 6 35 21 99-1 99-2 Low. Close. 101% 101% 88% 68% 99 99% 97 9T% 100% 100% 108% 108% 87w STW 9% 79% 8 8 91% 93% 99% 99k 99w 99% 101% 101% 99 99% 99% 99% 103% 103% 103 103 103% 103% 95% 95% 5 45 85% 894 91% 91% 93% 93% 108% 108% 95% 5% 91% 91% 97 97 96% 96% 901 80% 9% 99% 94% 94% 90% 91% 8215 8244 934 93% 924 92% 9 79 79% 79% 80% S04 79% 79% 49% 49% 29 29 85% E5% 97% 9% mu 1 93% 93% 941 94% 881 B84 2% 72% 76 % 106% 107 100% 100% 90 90 90% 80% 99% 99% £6l 86% 66 66% 834 83K 104 108 1124 112% - 68 €8 Ud Kingm §%s'29. 52 ULk 1% Ud Kingm 5%s '37.285 100% 101 MISCELLANEOUS. Ajax Rubber8s... 6 88 Am Chaln s f 6s'33. Am Cotton Ol 5s.. 1 65 Am SmIt&R 1st §3. 36 91% Am SmIt&R 6s.... 30 102% Am Sugar Ref 6s.. 34 101% AmT & Tcv és 5 116% AmT&Tcltrbs.. 27 98 AmT&Tcltr4s.. 13 92% Am Writ Paper 6s. 8 56 Anaconda cv db 7s. 26 98% Anaconda 1st 6s... 47 96% Armour & Co 4%s. 84! Asso Ofl 6s rcts 94/ Atlantic Refin 97 Barnsdall 95% 7% 82 93 86% 97 108 96% 9% 95% 17 99 96% 87% 87 107 84% 103% 105 107% 103% 99% 92 103% Brazll 7% Canada 58 1926 Canada 5%s 19: Canada 58 1931 Canada 55 1952 Chlle 88 1946. 21 Chile 55 1941. Chile 75 1943. Copenhagen 5%, Cuba 5%8 ctfs Czechoslovak!: Denmark 8s Dutch E156%s. ... Dutch East I 6547. Dutch East 1 6s'62. Framerican 7ls. . French Govt French Govt 7 Lyons 6s. Mexlco b8 etherlands Norway Sa. . Norway 6s 1943, Norway 6s 1952. Orlent Dev deb 6s. Paris-Ly’s-Med 65 Prague 7%s... Queensland 7s.... Queensland 6 . Rio de 8519486, Rio de Jan 85 1947. Sao Paulo.State.8s Seine, Dept of. 7s.. Serbs Crotes Slo 83 Soissons 6s Sweden 6s s @ vlakBonmweo @ 8% 934 66 81 102% 101% 116% 28 s214 &6 87% 93% 66 91 102 101% 116% 87 92% 55 98% - < £ Beth Steel 514853, Beth Steel rf 6s. . Beth Steel pm bs. . Beth Steel s £ 6 Bklyn Edison CNRE D Bush T Bldg §: Central Leather 68 6! Cerro de Pagco 8: Chile Copper 8s. .. CinG & E5%s'62. Commonwth P 6; Con Coal Md 1st 5 Cuban-Am Sug 8s. Srormm N S 108% 94 103% 106 107% 103% 99% 91% 103% Diamond Mth 7% Du Pont de N 738 Dugquesne Light 6s Est Cuba Sug 7%3 Empire G&F 1% Fisk Rubber §s. Gen Elec deb 5 Goodrich 6%s. Goodyear 85 1931. Gocdyear §s 1941, Hershey 65 1942 Humble O&R 8% Tilinois Bell 1st Ss. Indiana Steel 65 Int Mer Marine 6s. Int Paper 1st 55 B. KCP&Lt5sA'S2 Kelly-Spring 8s. Liggett & Myrs Liggett & Myrs & Lorillard (P) 53 Magma Cop cv T Manati Sug sf %8 Marland Ol 7% Marland Oil 88 '31. Mexican Petrol 8s. Midvale Steel 58 Montana Power 5 Morris&Co 1st 4%s Nat Tube 1st 5 New Eng Tel 68 N ¥ Edsn 1st 63 101% 98% 100t 115% 9874 97 93% 100% 8% 83y 89 102 6% 96 964 108% 97% 9914 99% 104% 857 9414 9% 99% 97 108% 104% 105% 94 Ny 89 100 107% 92 101% 99 101% 116% 99 97 93% 100% 9% ) B-RalBrPon movnwwsanBan N Y Tel 65°49. NY Tel 4%s. N Am Edison 6s Nor States Pow s, Nor States Pow 6s. Northwst B Tel Otis Steel T%s8..... ARCANADONWRO RN NA R Pacific Gas & El 68 Pacific T & T 5 ‘62 Pan-Am Pete 78 Phila Coref 6s A. Phila Co 6%s Plerce-Arrow 8s.. Plerce Oll deb 8s. . Producers & Rf 8s. Producers & R 88 W Punta Alegre 7s... Saks & Cosf7s Sharon St1 H 83 Sinclair Ol 78 Sinclair Oil 6% Sin Crude Oil 68 Sin Crude Oil 5%s. Sin Pipe Line 58. So Por Rico Sug 7 Steel & Tube 7. Sug Est Orfent Tenn Elec Pow Tide Wat Oll 6 Unit Drug cv 88 U S Rub 18t rt b U S Rubber 7%s. U SSteel s 58 Utah Pow & Lt & Vertlentes Sug Va-Car Chem 7 Va-Car Ch T%s W. Warner Sugar 7s West Union 6% Westinghouse 78 ‘Wilson & Co 1st 6s. ‘Wilson & Cocy Youngsto S& T 6s. 60 93% 89% 90% 103 100% 87% 2% 80 102% 110 107% 102% 99% 93% 86% 96% 96% 82 100% 103% 95 924 108 110% 84% 104% 102 88 6% 82y 63 103% 109% 107% 96 84y 93% - PSP - o o 0 e C P TSP 1 4 BomeENOR READING ORDERS RAILS. PHILADELPHIA, October 19.—Steel rail orders for 35,000 tons, involving an expenditure of $1,505,000, have been awarded by the Reading Com- pany for 1924 delivery. Bethlehem Steel Corporation received the largest portion of the business, 25,000 tons of 130-pound rails, while the Carnegie plant of the Unitéd States Steel Cor- poration will roll 10,000 tons of 100 and 130 pound ralls. The company also has ordered forty passenger coaches and ten combina. tion cars from the Bethlehem Ship- building Corporation. —_— According to reports, a large num- ber of marriages are occurring be- tween the qumrulrxoum ? Atchison gen 4s Atchison adj 4 Atlantic C L 1sf Atlantic CL ol 4 B&Oprin3ys B & O gold 4s. 8 80 86 81% 96% 9 101% 83% 84 76% 95% 13 88% 113% 112% 80% 92 100% 85% 8T% 80 86 81% 96% 78% 83% 83% 8 80 26 81% 86% 78% 101% 83% #3% 5% 85% 73 88% 113% 112% 80 92 100% 6% 88% 8% 84 54% 814 84% 98% 7% 44% 425 54% 50 56% 72% 564 % 77 7% 4% 90 708, 102% 101% 94% B4 84 975 69% 86 104% 49% 52 55% 103% 113 106% 961 £1% 571 B & OSW div 3%, BklynR T bs... BklynRT 7s°21 Canadian North 7s. Canad North 63%s. Canad Pac deb 4s. Car Clinch & O 5s. Cent of Ga 6s. Central Pacific 4s. Ches & Ohlo cv bs. 88% Ches & Ocv 43s. . 87% Ches & Ogn 4%s. 84 Chi& Alton 3s. ... 54% Chi & Alton 3%s. . 314 Chi B&Q gn 45 '58. 84% Chi B&Q 1strffs.. 3 98% Chi & E 11l gn 53, 7% Chi Great West 4s 45 Chi GrWest 4s (n). 42% CM & Puget Sd 4s. 54% Chi M&StPrf4%s 32 50% Chi M&St Pev Gs.. 56% Chi M&SL P 452 72% Chi M&S P ev 4% 55% Chi M&St P 4s ‘34 % Chi Rys bs. . 7% ChiRI&P gn 4 7% Chi RI& Pacrt 48 4% Chi Un Sta 43%s. 20 Chi& W Ind cn 0% Chi & W Ind 7% 102% CCC&StLrf 68 A 101% Cleve Term bs. .. 9474 CubaRRGs.. ki Del & Hd 18t rf 4s. 84 Del & Hudson 5%s 97% Den & Rio G cn 4s. 69% Det United 4%s. .. 86 Erfe con ext Ts. 108% Erle gen 4s. Erle conv 4s Erle conv4sD.... Gr Trunk st db 63 Grand Trunk 7s Gr North gen 7s Gr North gen 54s. Hud & Man ref bs. Hud & Man aj 6s. 111 Central ref 4s. . 11l Central 534 11l Cent ref 58 '55. Int Rap Tran 6s...132 Int Rap Tr 5s stpd. 20 Int Rap Tran 6s... Int Rap Tran 7s, Int & G Nor aj 6 Int & G Nor 1st 68 Towa Cent 1st 55. Kansas City S 3: Kansas City 8 b: Kan City Term 4s Lake Shore 48 '31 Long Island rf 4 Louls & Nash 533 Louls & N 5s 2003.. Ml EIRy & L 68 M& St L 1st rf 4 M&StLrfexbs M StP & SSM 6% 73 Mo Pacific 6s Mo Pacific 58 o Pacific gn 4s New Or Term 4s. N O Tex & M in bs. N ¥ Cent gen 3%s. N Y Cent deb 6s N Y Cent deb 4s Y Centri5s N Y Centcn 4s New York Ry rf 4s, N Y Ry rf d4s ctfs.. N'Y Rys adj §s ct. N Y State Ry 4% Norfolk & W cn 4 Norfolk & W cv 6 Northern Pac 3s. Northern Pac Northn Pacr 1 6 Northern Pac 5s D. OShort L en 58 '46. Ore-Wash 1strf 4s 12 Pennsyl gen 6s. Pennsyl gen 4%s. FPennsyl 6%s. Pennsyl gold 7s Pere Marq 1st @ - B an-OaD~oean Rapid Tran 6s Reading gen 48 RIATk& L 4% St L IM&S R&G 4s. StLIM&S4s'29.. StL&SFplésA StL&SF prin5i StL&SFinc6 StL&S Fadj StL &S Fpl 6sC. StLSW 1st4 St L'S W con 48°32. StP & KCShL 4%s. San A & Arn P s Seab'd A L 4s st Seab'd ALref 4 Seab'd A L ad} 5i Seab'd A L con 6s. . Sou Pacific 45 1929, Sou Pacific ref 4 Sou Pacific cit 4s.. Southern Ry 1st bs. Southern Ry gn 4; Southern Ry 63%s.. Third Averef 4s... Third Ave adj bs. .. Tol StL& Wds... Union Pac 1st 4 [ 0% 54% 68% 98% 74 6% 4% 72 55 4% 34% 65% 92 8514 82% 4% 67% 101% 51% 4314 T1% 1% 851 102% 993 93% 95 58% 79% 79% 48% T6% TOTAL SALES (Par Value): . 1986000 12noon 8294000 . 4516000 2p.m.. 5715000 RAILROAD FINANCES . BEING SETTLED UP The Cleveland, Cincinnati, Chicago and St. Louls rallroad will receive a total from the Treasury of $3,434,911, While the Michigan Central will re- ceive $2,049,827, under the government Fuarantee of earnings given railroads Quring the first six months after ter- mination of federal control. Both are subsidiaries of the New York Cen- R New York Central system, as a whole, however, yesterday completed a settlement under which it was held %o be indebted to the government to the extent of $23,000,000 because of heavy advances during federal opera- tion for the purpose of permanent betterments. P — APPLES SALES SLOW. Dealers Find New York Dull, Even at Low Prices. Special Dispatch to The Star, NEW YORK, October 19.—The apple market was exceedingly dull and gen- erally weak. The bulk of the receipts of barreled and basket stock from New York and other states was of ordinary quality and dealers experienced great difficulty in disposing of their consign- ments, even at extremely low prices. Most eales of miscellancous varieties of A grade 23%-inch were made at from $2.50 to $4.5Q per barrel 7 HARD COAL $18.10 PER TON. $T. PAUL, Minn,, October 19 (Spe- Anthracite now is retailing here at $18.10 a ton. The supply is scant, but demand is steady despite the trend toward the use of bituminous because of the advance in the hard coal price of 756 cents a ton which followed the increase in wages to anthracite miners. 95% 99% 94 98B% 58% 79% T9% 484 76% Union Pac 1st rf 58 Virginia Ry 1st bi Wabash 1st 5s. Western Md 4 1100, 6,00a8.0 i 15a30; quinces, bushel, 50a1 welcome by nearby truckers, furnish the local market much of its supplies of green vegetables. Be- cause of the continued dry weather, it was reported, growing crops were seriously affected. Dry weather greatly interfered with late corn, and already had caused a shortage in the supply of | rpasting ears. Growers hardly expect ( the corn crop will be benefited, how- | ever, unless there Is a late appear- ance of a biting frost. Potatoes, both white and sweet, may be benefited by the rain, and the wet weather also may help late tomatoes. | There was a fairly plentiful supply of tomatoes on hand_ this morning, with prices slightly advanced. Eggs—Strictly fresh, selected, can- dled, per dozen, 42a44; average receipts, | 40; storage, 35a36. Live poultry—Roosters, per 1b.,18; turkeys, per 1b., 35; spring chickens, per Ib., '27; keats, young, each, 50a60; fowls, per ib., 26a37. Dressed pouitry — Fresh - killed spring chickens, per b, 32a35; roast- ers, per ib., 30a35; hens, per Ib., 30a32; turkeys, per 1b., 38a40; keats. young, each, 80as5; roosters, per Ib., 21a22. Live stock—Calves, choice, per 1b., 123%al3; medium, per 1b.. 11al2; thin, per Ib.,'8al0. Lambs, spring, per ib., 14. Live pigs, 3.00a5.00 each; live hogs, per 1b., 7%. Green fruits—Apples, new, per bas- ket, 50a2.50. California oranges, per crate, 6.00a7.00; Florida, 3.00a6.00. Lemons, per box, 4.00a5.00. Grape- fruit, 3.50a4.50. Peaches, per basket, 1.25a2.50; half-bushel basket, 7oa 1.25. Grapes, Concord, twenty-pound basket, 75a1.00; two-quart basket, 22%a 26; Colorado Lopes, standards, 1.00a2.00; honey dew melons, 1.50a Vegetables—Potatoes, per bbl., No. 1, 3.00a3.50; No. 2, 1.50a2.00. Potatoes, round, per bag, 2.75a3.00; New Jersey plant potatoes, per bag, 2.50a2.75; sweet potatoes, 2.50a3.00 per bbl. New York lettuce, per crate, 1.5043.00; near- by, 75a1.00. 'Cabbage, northern, 2.00a2.25 per 100 1bs.; nearby, 1.00a150 per bbl. Eggplant, per crate, 1.00al.50. Toma- toes, half-bushel basket, nearb; 5. Beans, 5.00a7.00 per bbl. New York celery, per crate, washed, 4.00a 5.30; in rough, 2.50a4.00. Squash, 2.00 a3.00. Peppers, per crate 50a75. Kale, per bbl.. 7 ach, per barrel, 1.50a2.5 grown _lima beans, per quart, New York cucumbers, per bushel, 200(‘13.00. Sugar corn, per dozen, 20a35. GRAIN AND PROVISIONS. BALTIMORE, Md., October 19 (Spe- clal).—Potatoes, white, 100 pounds, 0; 150 pounds, 1.00a3.50; sweets ams, barrel, 1.00a2.75; bushel, 75a1.00; beans, bushel, 1.25a1.75; lima beans, ' bushel, 1.25a1.50; beets, per 100, 2:00; brocoli, bushel, 15a25; cab- bage, per 100, 4.00a6.00; savoy, bushel, carrots, per 100, 4.00a6.00; cauli- celery, ‘dozen, eggplant bushel, 15a25: onfons, 100 ;' corn, basket, lettuce, pounds, ; peppers, basket pumpkins, per 100, 5.00a10.00; spin- | ach, bushel, 35a65: squash. basket, | 30a0; tomatoes, basket, 40a60; pack- | ing_stock, bushel, 75a30; turnips, bushel, 30a40. Apples, packed, barrel, bushel, 50a1.25: loose, barrel, 1.50a 2.50; bushel, 50a1.00; basket, 20a50; box' apples, 1.50a2.30; cantaloupes, crate, 1.50a2. cranberries, barrel, 4.00a6.00; grapes, _basket, 75a85; grapefrult, box, 2.25a3.50; damsons, bushel, 1.50a1.73; oranges, box, 3.25a 4.25; pears, bushel, 2.75a4.90; basket, 2.0024.50; Settling Prices on Graln, Wheat—! 2 red winter, 1.09 3 red winter, spot, 1.06 2'rea winter, garlicky, spot, 1.08 3 red winter, garlicky, spot, 1.05; 4 red winter, garlicky, spot, 1. Sales—None. Corn—Cob, old, 5.50 barrel; No. 2 corn, spot, no quotations; track corn. vellow, No. 2, old or better, 1.20 asked. Sales—Bag lot of yellow at 1.15. Oats—No. 2 white, new. 53% and 54; No. 3 white, new, 52 and 523, Rye—Nearby, 75285 per bushel 2 rye, spot, 78% per bushel. Hay—Receipts, 132 tons. Receipts of the better grades of timothy and light mixed hay are light, and under a good and constant demand for hay of this sort the market rules firm. No. 1 timothy, 27.50a28.00 spot, | No. 2, 2500a25.50; No. 1 clover, . 1 tangled rve, 15.00a 16.00; No. 1_wheat, 13.00a14.06; No. 1 oat, 14.00a15.00. DAIRY PRODUCTS. BALTIMORE, Md., October 19 (Spe- cfal).—Live poultry—Spring chickens, pound, 22a24; leghorns, 20a21; old hens, ~18a25; leghorns, 18a32; old roosters, 15; ducks, 17a25: pigeons. pair, 20a25; guinea fowl, each, 40a65. Eggs_(loss off) —Native and nearby firsts, dozen, 40; southern, 37. Butter—Creamery, good to fancy, pound, 45a43%; prints, 49a51; nearb creamery, 38242; ladles, 34ad5; rolls, 28a32; dairy prints, 28a32; process butter, 38a39; store packed, 28. TODAY'S CHICAGO PRICES. CHICAGO, October 19.—With talk current about likelihood of increased fmports of Canadian wheat into the United States, duty paid, the wheat market here showed a downward ten- dency today during the early deal- ings. It was asserted that at pre- vailing prices flour millers as far south as Kansas could import Ca- nadian wheat at a profit. On the other hand, firmness in the corn market ex- erted a steadying influence on wheat values. Wheat opening prices, which varled from unchanged figures to %a | % lower, with December, 1.05 to 1.05%, and May, 1.10% to 1.10%, were followed by a moderate general de- cline and then something of a rally. Corn and oats showed only tran- slent setbacks as a result of improved weather conditions. Scarcity of corn for immediate delivery was a handi- cap to bears. After opening un- changed to % lower, December, 6% to 77, the corn market sagged a little more’ and then recovered to about yesterday's finish. Oats started unchanged to % lower. December, 423, and, after a further decline, rallied with corn. Provisions were lower, in line with the hog market. WHEAT— Open. December ..... 1.06 Close. 1.0435 109! 1.08¢ T8 B 8% January RIBS— October January CHICAGO LIVE STOCK MARKET. CHICAGO, October 19 (United States Department of Agriculture). Receipts, 36,000 head; uneven lower; bulk good, and_choice 325 pound butchers, 7.40a7.50; top, 7.50; better grades, 180 to 220 pound | averages, 7.10a7.30; packing Sows, | 6.35a6.60; slaughter pigs, 25a50 lower: desirable strong weight, 5.76a6.25. Cattle—Receipts, 4,000 head even; fed steers and Pearlings, gen- erally steady; killing quality plain; bulk fed steers and vearlings, 7.50a 9.25; she stock, dul canners and cutters, X bologna bulls, strong to 16 highe vealers mostly 25 lower; packers ta ing best kind around 11.00; stockers and feeders, dull at recent downturns. Sheep—Recelpts, 6,000 head; slow; killing classes, generally steady; most natives to packers, 11.50a12,00; few to | city butchers, 12.25a12.35: culls most- | ly 9.00; fat ewes, 5.2586.00; no feeding lambs sold; looks steady. BUTTER GOES HIGHER. CHICAGO, October 19. — Butter higher; creamery extras, 47; stand- ards, 45%; extra firsts, 45a46; firsts, 423%0243%; seconds, 4ladl%. Eggs_higher; receipts, 4,113 cases. Firsta, 328304, ordinery. figots, 26227, MOVE BY BANKS Effort .to Keep Institutions Out of Reserve Called “Fallacy”—Notes. Officials of the Treasury Depart- ment exhibit no great concern over the report of a concerted effort being made by banks which are members of the federal reserve system to in- duce smaller banks not now mem- bers to stay out. The suggestion to this effect, made recently by wit- nesses before the joint congressional committee which is investigating the reasons for the failure of certain banks and trust companies to enter the system, was declared to be a “‘fal- lacy.” While Treasury officials are agreed that it would be best for all eligible banks to become members, they say the system can function without those smaller concerns and trust companles which have preferred to stay out. That these are now being taken care of, to their own satisfaction, by their corresponding banks was pointed out as the principal reason for keep- ing them from seeking membership. Government financlal authorities say they know of no specific changes in the banking laws which they could suggest to attract the smaller banks into the system. Bonk Ratio Shows Galn. The ratio of total reserves to deposit and federal reserve note lia bilities combined gained one-tenth of 1 per cent during the week ended October 17, 1923, compared with the corresponding week of last year. It now stands at 75.3 per cent __The ratlo of the Richmond bank is 37.5 per cent, compared with 74.3 per cent last year. Local Stock Trading. Trading in popular stock monopolized business on the stock exchange this morning. bond list was entirely neglected. Mergenthaler Linotype was decld- edly strong, twenty shares selling at 159% and 160, the trend being up- ward, and twenty-elght shares of Capital Traction stock =old off from 1003% to 100%. Raflway preferred was steady at 70%: and Riggs Bank eased off o 2981;. Continental Trus: Company was unchanged at $0. Busy Program for Bankers. The greatest repertoire of enter- tainment in the annals of the oft will be offered delegates to the an nual convention of the Investment Bankers' Association, which convenes here October 29, 30 and 31 According to plans, which in_vol- ume are not yet completed, on Mon- day afternoon, October 2§, at 1:45 o'clock, delegates will be taken in automobiles to the wharf and aboard the _steamer Charles Macalester, which has been chartered to take the financiers and their families to Mount Vernon. On Monday evening there will be a dance in the large ballroom of the Willard, lasting from 9 until 1 On the following afternoon the del- egates will be treated to a cavalry and artillery drill at Fort Myer, while on the same afterncon the golf tour- nament will be run off at the Con- gressional Country Club. The main social function of the con- vention will take pla night, when visiting dele present indications at 1 number, will be given-a banquet the large ballroom of the Willard theater party for women. who not be invited to attend the banquet, will be held simultaneousiy. On Wednesday a_special luncheon for women will be held at the Chevy Chase Club. Financial Condition Reviewed. Moody's Weekly Review of Finan- cial Conditions, in its current issue, says, in part: “A premature weakening of com- modity prices has been the chief re- cent development. General trade is more dependent than usual upon th question of prices, and in the typical vear there is a steady advance from midsummer to January, based upor the large purchasing power engen- dered\by the autumn trade. Thus o stock and bond markets seem to be w true barometer of the business situ- ation. “One industry booming is the production and of electricity. Every month t ear has shown a iarge gain over last year. The producers are not much affected by labor costs, because they do not employ much 'labor, while coal is cheaper than it was a year ago; and therefore profits are satisfactory. “Bonus legislation Is again coming to the front as an investment factor. and tentatively the costs are est mated around $800,000,000 for the first four years, or $1,137,000,000 for the first twenty vears. The immediate federal expense is unlikely to prov large enough to seriously hurt th bond market; but the ultimate outlay promises to be so great as to i definitely postpone any reduction of the federal taxes pald by investors. “The so-called gold glut is causing uneasiness to those who fear that it will bring on credit inflation. Expe- rience_shows, however, that credits expand when business’ opportunities or possibilities of profit are large and contract when they are small, wheth our stock of gold increases or not Thus gold supplies do not dominate volume of credits, and the gold glut is barmless so long as our federal reserve system is permitted to follow conservative banking practices.” CHANGE IN APPLE DEMAND. PORTLAND, Ore., October 19 (Sp: cial).—The foreign demand this se; son seems to be for small sized ap- ples. This, it is thought, is because the average European consumer now can afford to buy American fruit be- cause of the decrease in the cost of shipping direct from this section in- stead of by rail to Atlantic ports and then by water across the Atlantic Under the old shipping methods on the larger and better class of frult could be shipped profitably. LEAF TOBACCO RECEIPTS. BALTIMORE, October 19.—Mar land reports for the last week re- ceipts of 588 hogsheads, against sales of 1,536 hogsheads. The market has been very strong with prices adyancing on all grades. Prices per 100 pounds—Maryiand, inferior and frosted, firm leaf, 3.0045.50: sound, common and_greenish, 6.0048.00; good _common, 8.50223.00; medium, 23.50a230.00; good to fine red. 30.00a 50.00; fancy, 51.00a54.00; seconds, common to medium, 5.00a12.00; sec- onds. gocd to fine, 13.00a35.00; bay tobacco, fire cured, 15.00255.00; upper country, air cured, 5.00a40.00; ground leaves (new), nominal. WHITE MOTOR DIVIDEND. CLEVELAND, Ohio, October 1 Directors of the White Motor Com- pany vesterday declared the regular Qquarterly dividend of $1 a share, pay- fAble December 31 to stock of record December 20. This is the thirty-sec- ond consecutive quarterly disburse- ment made by the company. NEW RAIL EQUIPMENT. During September 18,519 new freight cars and 380 new locomotives were placed in service by the railroads of the country, making a total of 134- 636 new cars and 2,963 new locomo- tives installed during the year. Octo- ber 1 the carriers had 64,601 cars and 1,242 locomotives on order. WATCH COAL SCALES. PHILADELPHIA, October 19 (Spe- clal).—Twenty-nine new inspectors have been engaged by the city to in- spect scales and measures used in the distribution of anthracite coal. This action was taken for the express benefit of those who buy in small quantities issues in A which, s ale however,