Evening Star Newspaper, November 4, 1923, Page 38

N FINANCIAL THE SUNDAY STAR, WASHINGTON, D. C, NOVEMBER 4. 1923—PART 1. FINANCIAL, NARKET REVEISAL || NEW YORK_STOCK EXCHANGE | 22X SUWMARY FOR THE VEEK T iy IRYET 99-5 Liberty j H ARI] ]’fl EXPMIN WEEK ENDED NOVEMEER 3, 1933 d i : ‘ I;‘Eh e e A i b2k . W D T o e 97-29 445 ) . Low. Rate. d a8 5 Adams Express 7 68 % S 3o% —eily SpringfeldTire. ... 33% 23 2 + 2% 2 98-1 Treasury 438 1947 9947430 2 fimn. Low FOREIGN. Close. High. Low. lLast % 3 :g;- “' ‘— filflv;‘mée l'hlxmley T T 75 6 Kelsey Wheel. . 84 %% . e 6 r Reduction. C . . % 29" : : B o, Fundamental Conditions Had| fs Si &% % - Alirrmerwor: T “T —— Keystone Tirea B e 1088 108 Areentine e 1837 1 10 100 | Prices Go Higher in Busiest 98% 98% Belgium 6s % D 1M 2% 9% 55% 80 4 4 Allied Chemical & Dy 251% 248 250 96% Not Changed When Steel | 5% am 4 Allia-Chalmers Mtg. . 108 91" Belgium s u: o 5 Two-Hour Session Since x Last Spring. o 27% ——— Am Agriculture Chemical. “Extra” Was Voted. @ s ., 100% Chile 8 Toe. SELLING WELL ABSORBED 4 49 31y 883 Am Brake S & Foundry. GARY'S VIEWS HELPED i &l * 5 Americancany 201 American Car & Foundry. N B 23 J\mC:mlnclaulAwL“ > s = American Chicle. .... Confidence in Business Outlook Ap-| 30w Am Chicle pf.?l.e d 803 4 s American Cotton Oll pears Improved—Bonds 1 5% —— AmoricanCotton Oll pr. 48 6 ManatiSugar (& g 3 m Druggist Syndicate. . Turn Stronger. 3 i 6 American Express. . 5 89 90 38 : g::r?:::.‘: é!:;xl::n.az':::‘:’a 17 g —— American Hide & Leather. 40 3 Manhattan Shirt. —— Am Hide & Leather pf.... BY GEORGE T. HUGHES, A z American Ice. . = American Ice pf. Special Dispatch to The Star. 3 —— American International. NEW YORK, November 3.—Without 5 10% 1 AmLaF Fire Engine. doubt the most spectacular evept of 4 18— American Linseed. the week in the security markets was 28% —— American Linseed Mazxwell Motor, Cla: the declaration of an extra dividend | T 848 ¢ AmTocomotive (ne 26% Maxwell Motor, Clas: G S =) 40% 3 American Metal s 45 % May Department Store: of % of 1 per cent on the common 5 76 4 American Radiaf 84% % Mexl Seaboard. stock of the United States Steel Cor- 7 47% 60c American Safety R: Bt ConDer - o poration, together with the publica- 10% —— Am Ship & Commerce. ... Middle States Otl 1o of aneariines Atatement far 2 % 518 5 American Smelting & Ref. Miavale Steel. . s RS 1 strect hed 93 7 AmSmelt & Refining pt... Mo Kan & Texas new e 31% 3 American Steel Foundry. . Mo Kan & Texas pfnew inticipated. . 48 -—— Amerlcan Sugar Reflning. — Missourl Pacific. .. More fmportant t he wction 2 6% —— Am Sumatra Tobacco. " « — Missouri Pacific pf. f was' the infe 3 3 G Am Tel & s o wer. . Hor Lha bt he ot i 128% 114% 5 4 9 A Telaphone & Teleg. . 128% 4 § il Montgomery Ward dence i business outlook. Judge | 163} 129 w12 R o Mooh Mators. . : =t i 5 5 % A ’t.’:,‘-?fifl:fi&?&":hfl; e 2 5 . 1 Mother Lode Coalition. T e - i 6 2Tl —- Am Water Works & Eloc. . S e g tock of nearly grades, pecially those which_the large % ‘short” interest existed. The retreat 5 6 American Woolen. ... of this short Intcrest wus helped | 1115 10213 5 s American Woolen pf. along by the optimistic statement of | 21 1255 —- American Zinc Lead & S... + professional speculator whose career —— American Zinc L& Spf. ... has been the subject of a great deal 8 Anaconda Copper. >f attention, and who completely re- —— Arnold Constable ersed the position he took six months 4 AsioiDry Gosls " , —_— % 150 Associated Oll (new Rise Not Due to Changes. 2 ey Tuis turnabout In speculative s 90% 86% 6 Atch. Topeka &S Fe Df. ‘iment came without any change in | 1247 7_ Atiantic Coast Line rhe fundamentals of the business sit- 4 195 8 = AtantioGy . uation. There remained much & ; T o R Witer ¢ % 9% —— New York, N H & Hart for the past month Y : i 1450 — New York Ontario & W contluued easy and 3 Auto Knit Hostery, 61 Noefolk & Weatern. . MclIntyre Porcupine Min 58% 6 Mack Trucks.. 72 7 Mack Truck 2d pt 57 ~—— Macy (R H) & Company. 27% —— Magma Copper. 21 —— Mallinson & Co. 81% Chile 8s 1941. Chinese Govt Ry bs 1951. Sopenhagen 5%s 1944 9 Stewart-Warner Up 4 Points and United Fruit Over 6—Sugars s 96% 96 Dutch East Indles 65 1962. 5 Do Better. Framerican Ind Dev 7%s 1 French Govt 8s 1945. ; French Govt T%8 1941 ] B e Asociated Press. Holland-American s £ 6s Alis ‘W YORK, November §—Cos Japanese 1st 43s 1936 4L structive £ oAy Japanese 2d 4%s 1°26.. A wd‘y,!""'“ were again at work Japanese 4s 1931..... s stock market, the most Jergens Utd Margarine 6s 1947. active half holiday session since last Lyons 6s 1934. . 80 B0 | SPring. with the result that prices Marseilles 6s 1934. comtinued thetr move to high Mexico bs 1954. ground after a T Mexico 4s 1954, Einalaiies n early period of ir- 4| Floor tra Paris-Lyons-Med 6s 1958. 7 . bought stocks for g i Queensland 7s 1941.. the nexbentad ;’:fl:‘_ 'l“"‘fl following Queensland 65 1947. ... & a0% Atlon of an ex Rio de Janeiro 85 194G.... tra dividend the United Statd: Sao Paulo, State of, 85 193 S*Mfll Corporation, continued to take Seine, Dept of, 78 profits in_the usual 4 Sweden 83 1949, 108% 108% fere, all of which: openos® e oboicad Swias Confted s ¢ 85 1840 4 111% 112% | sions. The offerings were well abeors 109% United Kingdom 5%s 1929. 109% 109% {ed and the general list again hoad. 100% Unlted Kingdom 5%s 1937. 101 ~101% | upward, INDUSTRIAL AND MISCELLA 3 More N 96 Amer Agri Chemical 7%s 1941.. M R s B e 863 Amer Smelt & Ret 18t 58 1947.. 91 9% | dobaker all el, Bal X % 100% 1 reached new hig 99% Amer Sugar Refining 6s 1937... 100 9% 100% | o o e hovem] ghaw b 95 Amer Tel & Tel cl tr 58 1946. 4 > quarter. higher at 93 ldwin Amer Tel & Tel cl tr 4s 1829.. touched 124, but reacted to 123%, up Armour & Co 4% 1939. .. ~. : %|%, and Studebaker showed & ne: Atlantic Refining deb Bs 1937 % galn of 133 points #t 101%. Americar Bell Tel (Pa) ref Gs 1948. .. Woolen was another strong feature Bethlehem Steel p m 68 1936. 7 % |closing 1% higher at 74, Bethichem Steel 5 f 68 1943 9 oStpart Warner advanced 4 potnte Brooklyn Edison 78 D e reported clo; of a larg. Central Leather 5s 192 9 contract. Sugars were helped by the Cerro de Pasco 8s 1831 - 2 Mumn(lf),ni of dl\jld(enfis_ on Manat! Chile Copper 6s 1933 : . 98t - s of 1 fo 2 points being recorded Cons Coal (Md) 1st ref 58 195 7! z actlve issues. United Fruit Cuba Cane Sug cv deb 8s 193(.. 93 35, 927 Jumpéli 6% points. Some of the other O e U o e i s 10 strong efots included Western Unfon. , : North Amer}, oK fialine Railroad c h Baldwin Locomotive. .. - Notth Afmerican B e e . 108% 107 Davison ‘Chemical, Pacific Telephon: El at -siiost. their 60% 83 X Baltimore & Ohlo. . Empire Puel & Gas T%s 1957 e o e p : i b tric_and Kelsay Wheel, all o Chilp Worew and mdhl orton)epw bz | @ % i Baitimore & Ohlo pf. o 3 b } { General Electric deb 5% 1853 101% 101% | which advinced 2 polnty or o, ales. The outlook for th 561 19t —— Barnsdall, Class A. Goodrich (B F) 6%s 1947 96% ; C. & O. Shares Take Slump. tomobile inaubtey Coull ot 39 3 — Barnsdall, Class B i Goodyear Tire 8s 1931 100 | Batisiwers mixed’ . a Avop 6% 15 in 1y discerned until the seasc 85 + - Bayuk Bro: 4 by Elevat % Goodyear Tire 8s 1941. ¢ I I o eaks “and Ohls bene bad o oW pteraAE ik over 8 L Beechnut Ps 4 5 7 — Otis Steel. .. 4}, Humble Oil & Ref §%s Cobatioie] Cutstanding developments it Indiana Steel 5s 1952. 995, 100% group. There were a few could be secured on the spring d Be!hlehem§l¢el. H » 8 Owens Bottls. £ > mand. The ofl trade was still strug- Bethlehem Steel pf 3 6 Pacific Gac & Electric. Inter Mer Marine Gs 1341.. 8% 804 | strong. spots, nmotably New Otlemay. Inter Paper 58 B 1947... 824 E2% |Texas and Mexico, Southern Pacific zling with excessive production and 5 5 Booth Fisheries.......... Yy + — Pacific Mall ‘he rubber and tire manufacturers|124% 100 Brooklyn Ed{son Electric. 2 Pacific Ol Kelly-Springfield 8s 1931. 2 101% 108% { Wheeling and Lake Erie preferred with intense competitio = ¢ —— Brooklyn-Man Tran tr ctfs Packard Motor Car. Lackawanna Steel 65 1950 g 28 |and Lackawanna, all up a point or aicatton_duofations soared to new] . s BrookIn-Man Tr pf tr ctfs. Packard Motor Car pf. Liggett & Myers o8 1951.... 97% | more. highs, while the textlle manufactur- | e ™00 e S e e 5t Tusias. : ot " Forelgn exchanges 'were _again “rs were in grave doubt as to just D e anaer o Midrele Brvel B8 1986, ceennns 857 85 ! Demand sterling duplicated e oy e tel e e pane % 43 Burns Brog Class B Penna Coal & Coke. ..., New England Tel 5s 1952 6% It5 pesions low of the your, 6454 the ra aterial “they cou s S N man marks fell ‘so low that on to the ultimate consumer. Per- Butte Copper & Zinc. Pennsylvania Railroad. New York Edlson 1st 6%s 1941. 133». 1;(_\‘ F e cfthe s bk Ao Penn Seaboard Steel. NY Gas EL H & P 5s 1948. " ido any business in them. Fren iaps the most favorable feature was s Butte & Superior. . ; B better situation of the farmer 2 “ Butterick Company.... el e 101 lgg-"’ lfi‘:% ldo dny bus D them. Erer 9 xcept possibly the wheat producer.| 8 F 6 California Packing. 5 F «nd _even his position was certainly 4 4 4 California Petrolm North American Edison 6s . b3 91 91% k Reserve Decreases. 3% Pacific Gas & Elec 5s 1942.... 2 90 904 The weekly clearing house state no worse, 1% 6% 5 Callahan Zinc & Lead. s ks 4 90 o1y Toeekly e D Move C: logical. 151% 119% Canadian Pacific. . acific Tel & Tel bs ciaenen ment showed an increase of 467, - Move Called Paychological. % 5 Philadelphta Co ref 63 1944. 1005 100% | 000" in_loanz, “discounts and invest: : : v 205 It can bo falrly said then that the| 454 233 et LemnenSe Public Service 55 1959 4 78% 79% | ments and an increase of 334,440, 937 s 91% 92 {in net demand deposits. Reserve of e o 96% 6l | member banks In the Federal Reserve , e g Bank decreased $31,043,000, while time South Porto Rico Sugar 7s 1941. 100% 100% | 4 hosits fell off $14.385.000. Aggregata Unlon Bag & Paper 6s D.... 32| reserves totaled $488,551.000, leaving United Drug cv 8s 1941. % % 2“deficit in reserve of §13.349.610; & A {J ; ll‘i“:g:: 17!;'.:1:% S 5 102% 103% ds -(u}f $35,340,690 below the pre- 7 S Rul 930. . 4 | vious week! U S Steel s f b5 1963 s . 102% 102% Utah Power & Light 55 1944. % £T% 88 Producers & Refiners pf e Vecarlin Ghem sl e S 2 SR Sl TRADING ON CURB ce 8% . 102% 10234 Western Union Tel 63%s 1936. 0! 108% ]109% PuimanGor e 5 e 16 110 + 2 93 10: « Wilson & Co 1st 6s 1941. . 95% 96 IS MORE ACTIVE Punta Alegr 515 484 Wilson & Co cv T%s 1931.. S5 9% Pure Ofl. 15% e e 88% 89% v ings. 99t tehison gen 45 19 o s9% | 3 Ratlway Steal Spr - o ‘Atiantic Coast Line 1 5 ‘ s6% 87 |0il Stocks Irregular During Week. Reading. ... e : Balio & Onio Do ta o8 % 75 sue Industrial I Displa: 52% % Baito 0. gold 4u 2 b e lustrial Issues Reading 2apt.. o3 52% 533 i : Balto & Obio Gs 1029. ] 1004 101% A & piey 4 St - " 8% 771 Balto & Ohlo cv 43s 1932, % 831 f , fi::‘l';“‘l:o;tz‘aylpefi!"!r . 3 % 93 Balto & Ohio ref 5s 1995... 83 B4 " ger e Republic Iron & Steel. B&OPitts LE & W Va 4s 76% T6'x | By tiie Associated Press. Republic Ir & Steel pf. B & O Southwn div 3%s 1925... 4 953 95% NEW YORK, November I.—There Roynolds Spring. . « i Canadian Northern §34s 19¢6... 1 1113 112% | was o pronounced broadening temd- Reynolds Tobacco, B. ¢ Canadian Paclfic deb 4s. 8% 79K 9% lency to the trading on th : ; % | encs . y e New York 346 Royal DN rshs.. Central Pacific 4s 1949.. E6% 864 | Curb Exchanke all through the week Rutland pt. Chesspanks & ailo cx Seilels, reflecting o substantial - increase. in Bt Josepi L. Chesapeake & Ohlo gn 443 1992 oF many Issuca by those cammomation Chicago & Alton 3s 1949 ) their control. Petroleum stocks were i Chicago & Alton 3%s 1950, 5 irregular, several of them being Chi B & Quincy lst ref 55 1871 98% 98% | bought because of special develop- Chi & Eastern 1l gen 5s 1951... 761 78 |menta. Chi Great Western 4s 19569... 5 46 481 Prairfe O!ll and Gas following the Chi M & St Paul ref 4%s 2014.. 484 50% { announcement of the acquisition of 52% Chi M & St Paul cv 55 2014.. 53% 06 |producers and refiners moved up to 51 ChiM & St Paul cv 435 1982 2 52 b6 |190, but profit-taking sales caused & 77% Chi M & St Paul gen 4%s 158 i 7% 1% qluldc reaction to 174, from which 106 Chi ‘& Northwestern 63%s 193 $ 107% 108 | there was <nother upturn Toward % Chicago Rallways bs 1927. 1, % 75 1‘”‘; }):\:lh:"“]flmbl:efeo .lut.ux:‘ OL.\ Chi R 1 & Pacific ref 4s 1934. o T4 | gcate in connection with the brng Chi Union Station 4%s 1964 %0 ink in of its well in the Powell fieid Chi Union Station 6348 1863.... 1% 112% 114% | with an igitlal flowsof 10,000 barrels Chl & Western Ind con 4s 1962 7. 70% 70% | which was at once connected up with CCC & St L ref 6s A 1929 Humble and Magnolia Pipe lines. Cleveland Term 53%s 1972 102% 102% | The leading Standard Ofl {ssues 5 Colorado & Southern 438 1935 % £24 | moved within & comparatively narrow e Sisie range, but they also were in de- %:::wlre & Hudson 5%s 1937.. mand ‘and at times made vigorous ad- Den & Rio Grande con 4s 1936. . vances. Royal Canadlan Syndicate Den & Rio Grande 1st ref b8 1955 . was a feature in the low-priced group %0 1932. ¢ 851 8814 | because of buying based on the re- D e i Iport of the president of the company 48% 50 |about the developments In the Sweet 51% o3 |Grass Arch fleld. . Industrial stocks aleo showed Erie cv 4s D 1953 : 6% 554 56% s Grand Trunk s £ deb 68 19368. i 1684, 10434 | T-ONBLE uring A Ecod)part of the Grand Trunk 78 1940. 112% 113% - 3 Great Northern gen 7s 1936.... 106 106% ¢ Great Northern gen 5%s 1952. 95% 9635 Wudson & Manhattan ref 68 19657 81% 9% 9611 WHEAT VALUES IMPROVE. Hudson & Manhattan adj 6s 1957 58% 58% L Jilinols Central 5%s 1934....... 10 101 101 |Strength in’Other Markets Spreade Inter Rapid Transit 6s 1946 5 G 58% 59% i % Inter Rapid 'x‘n;'ml :::J 19:" 337,2 85 to Grain Pit. Inter & Great Nor s soul . S = . et il o tCong i i the cotton market and In Kansas City Southern 3s 1950... Stocks and by assumed Ilikelthood Kansas City Soathasn b 1350. . that the federal government soon b ik g;‘;lwould take steps likely to lift grair o1 2 ues, the ce of wheat sl an Lehigh Valley 6s 193 102" 102% | ypward trend today. The close was 87% Louls & Nash unified 4s 1940.... 89% 8! firm, % to net higher; December, 101 Louls & Nash 1st ref 5i4s 2003 104% 106% | 1.07%81.07% to 1.07%a1.07%. and May. 88% Market St Ry con 68 1924 % 88% 90% (1.12% to1.12%al.12%. Corn finished 5 % 81 Mil Elec Ry & Lt 1st ref bs ' E: 34 81 81 |to 1% up, oats at %ak% to %a¥ gain. 101% M St P & S S M 6348 1931.. 101% 101% | and provisions varving from 10 dc- 72% Mo Kan & Tex 1990. ... % 75 T4% 745 |cline to a like advance. 74% Mo Kan & Tex pr In 5s A 1963 7% 778| Purchasing for eastern account 48% Mo Kan & Tex adJ bs 1967 9% 50 49 495 | started wheat upward at the openine 86% Missour! Paclfic 65 1949... 85% 87 ;n‘d, fill:doulg.:l ‘I’:u;ll;nfi:d pesc .35‘.';«'.’{5 47 Missourt Eacifio gen (e 2075 47 49 | Eitnessed e R uving of whest was 9% N0 Tex & Mex tue bs 08 &) 6% 7% 210 accelerated an a result of mee- 06% 101% New York Contral Seb 68 1935 108% 104% | Sogres” inalcating that President Cool- 91% 86 New York Cent deb {s 1934, 9% 89% | jage and his advisers were consid- 98% 92% New York Cent ref imp 6s 013. 95% 5% | OB A prehensive reports toushing 78% 52 N Y NH & H cv deb 6s 19 54% | the agricultural situation and tho B50% 32% N Y West & Boston 4%s 194 37 | wheat trade, and ziso was giving 93y 86% Norfolk & Western con 4s 1996.. 29 % 895, further attentlon to plans for fur- 117% 107 Notfolk & Western cv €s 1929.. .1 1075 | nishing wheat or flour to Germany. 58% Northern Pacific 3s 1947 59% 5g% | Bears In the wheat market made 87 &M Northern Pacific ¢s 1997..... 83 82 | much of assertions that ':"fi"' had 109% 102% Northern Pacific ref imp 2% disposed of a large part of this year's 1 rop, and that any plan which 0% 99% Ore Short Line gtd a 1345. ... 1”% 02 THeAL CTOD. Sa¢ misht adept for tho 6 enhancement of values would benefit the growers less than was implicd in current talk. —_—— 28%| CLOTH LIKELY TO GO UP. 86% gfi:.mher Prices on Dry Goods Are 2% Expected Soon. NEW YORK, November 3.—Cotton goods market steady, showed & firm and advancing tendency, and mew 69% | srices on higher levels were ex a 45% i goon on several lines of a 39% | goods. Lonsdale and Blackstone ¢—i 66% | pleached goods were advanced to 17 2% | cents a net. Trading was quieter 87 ’(h;n was expected after the sharp 84% cotton advance. ot In men's wear lines concessions 68% | were made to move stock lots of fab- 101% | rics of a seasonable character. Finec 40% | dress epecialties in flannel and fancy twill constructions sold well for spring. Raw silk was somewhat and firmer. Linens werc teadier steady and quiet. e el el o st S 56% . Tor) lel yearl: m‘“ unu-‘ thdr'uu ia has more women & 25 ate. erud s i iored : T To 4% s Soptaiature. than 2oy otber state IR e e TR —— Market St Rallway pf. +++4++ ++4 s and others who had | 6 N 8 National Lead... New York Air Brake. . New York Central.... B I I S S I o I IR S A S R S e R S R preferred, ~Geners 8 |erean @ wEancaa Philip Morris & Co. Phillipg Petroleum Phoenix Hoslery. . Plerce-Arrow.. Pierce-Arrow pf. Pidrce Ol pt. Pittsburgh Coal. Pittsburgh & W Virgin! Postum Cereal. Pressed Steel Car. Producers & Refiners apparent reversal of opinion was ps 82% 63% 3 Central Leather Co pf. chological. Evidently the profes: 46% 32% Cerro de Pasco Copper. ul traders in s itles, wi 9% Chandler Motor. . outgivings had saturated the Wall| 79 Chesapeake & Ohlo. street atmosphere for the past three| 12s 5 Chicago & Alton. nonths, were no longer able to com-| 207, 3 Chicago & Alton pf nd fo attentive an audlence. The | 43el 12y Chicago & East Illinol hange Is important in two ways. 841 31 Chi & East 1linots pf. .. For one thing, the business man is 7 Chicago & Great Western. elieved, for the moment at least, of Chicago & Gt Western pf.. doubt as to the business future H Chi, Milwaukee & St Paul. ng pr 4% 2 Shi. Milwaukes & 8t P pf.. In the second place, it clears the way ¥ Chicago & Northwestern. e the stook market to resume its = Chicago & Northwest pf. najor function of forecasting trade( 89% &9 development. Whether the improve- Chicago, R 1 & Pacific. ment {n prices will go further or will be even maintained at its pres- ent level mo one can say, but the verdiet of the market will be looked fo with more respect than wag ac- corded the fluctuations of the pr ‘eding_ weeks, dominated as they ~vere by purely professional specu- lators. Vital Bearing on Stocks. 4 260 Columbla Gas (new). Coming back to the action of the 4 Columbia Carbon. directors of the Steel Corporation as 6 Comput Tab Record. to the dividend on the common stock, it has an Importunt bearing upon 4 —— Consolidated Cigar. the investment status of the stocks 5 Consolidated Gas n of all the_stronger industrials and 6 —— Consolidated Textile utilities. When the American Tele- 2 1 ContinentarlCan. phone and Telegraph Company placed its stock on a 9 per cent basls and ntarted its campaign for a wider dis- tribution of i(d: slmreslhman{ dduubé: were expressed as to the wisdom o 931 C ‘he move, The result, however, has| 98 5 lc;u:::m:i:::ll! en to give this great utllity the ‘il, I’ cé Jargest number of stockholders of . Cuban-American Suga ny American corporation, has stab- : Cuba Cane Sugar. . flized the market for its securities 2 —— Cuba Cane Sugar pf. nd contributed lurgely toward a bet- i —— Cuban-Dominican Sugar. . ter understanding with the public. —_ Cuba-Dom Sugar pf. A The steel directors probably have no|___ 4 Cuyamel Fruit..... intentlon of going so far, but noth-1" gss 2 —— Davison Chemical. ing could be more encouragin % — De BeoraMines. . “he lsmau sharohnlrgg:w:‘l:?;l 5:“;115 lfl;; 9 Delaware & Hudson...... 891 — Sloss-Sheffi Steel common per! = 143 % 6 Delaware, Lacka & West. . —— South Porto Rico Sugar. perjeent badta Joward which the X-{ 351 100% 8 Detroit Edison. 10: m ) e tadie bl 3 46% 4 Dome Mines % — Southegn Railway. Adequate Returns Necessary. . 6 Du Pontde N 28% 7% gs. = _Bomh"'nnm““;n In these days of high income sur- +7% Eastman Kodak. S Hx iy ut : taxes the man of large wealth can 20 Eaton Axle & Spring gt o e A e 70 Ignger be relled upon to hold com- Eleotric Storage Battery.. 61% e e snon®stock, half the dividend on which 4 Sl % 3 Deandeu o of Calt Jie must pay back to the government. e oS Some one must take his place, and if okt ol e “his is to be the small investor he Hnaioost Joh . must huve a more adequate return A Eeie a2 “han it has been the practice of the : Etle Baliroad 1at pt. Steel Corporation to give. There are % — Erle Rallroac »f. \ few other large corporations, in- 8 Famous Players-Laskey.. Aduding_probably ut least one rafl- " > 8 FamousPlay-Laskey pf.. road—the Atchison—which could %« 7 Federal Min & Smelt pf. valse their “dividend rates without 1 6dc Fifth Avenue Bus. ‘ransgressing the limits of conser- 219 10 WaterBody. e vatism _If financing 18 to be done Ly . 5 . S Fieher Body Ohlo Bf. issue of stocks fustead of constantly i . Fisk RUBDOres s Y . : increasing bonded indebtedness the Ta Micishrontin Comipany. - s ! i e raflroads will have to come to this. S Hounlation Cornety. . At TR s ohaEek: the Tmarkots, continto ‘10| 27% 1ok 22 —— Froeport-Texas........ 6% — Tobacco Products jgnore the outlook abroad. Exchange . 1Y 8 General American Tank. 90% Tobaceo Products Cigss A. rates fluctuate rapldly, but foreign - General Asphalt. bonds remain quiet and steady. More ! 5 General Asphalt pt... 66 interest Is taken in domestle, securi- 4 General Baking. k3 86% 8 Underwood Typewriter ties than in the forelgn. 83% 66 % s General Cigar.... 1 8 + 77 @ Union Bag & Paper Bonds Appear Stronger. General Electri In the bond market there has been a 60c General Electric remarkable display of underlying 120 General Motors, General Motors pf. strength in all high-grade obliga-! 86 69 9 [ i tions. Investment bankers are much 6 General Motors 6% deb. <noouraged at the outlook. There is| 45% 38% — Gimbell Brothers. no sign of any rise in money rates;| — — —— Goldwyn Pictures. = ‘n fact, the tendency seems to be the | 44% 284 —— Goodrich (B F) Company. sther way. That being the case, there | 91 79% 7 Goodrich (B F) Co pf..... has been a turning of attention to i — Goodyear Tire & Rub pf... long-term, low-coupon rate bonds, 3 8 Goodyear Tire & Rub pr pt which has been reflected in the quo- | ge— oo —_ Granby Consolidated. tation for that class of security. Most | g2r 7o, 5 CrastNorbmat seasoned issues of this grade are still | 5% JOH " 2 Great Northern Ore otfs. .. selling under the high points of the| 2% 25 R e vear, §0 there is room for improve- ment, regardless of the comparatively | 1% 6% 5 = OustEsnamoSugAF..., . . small "yleld the best of these bondsi @ive at present prices. 103 80% Copyright, 1928, e —— —_—— 27% 16 82 66 6 Homestake Mining. DROP IN SUGAR HALTS. |—— 28% 8 Household Product = 1% 61% 40% —— HoustonOll........ - 27% 194 20 8 Hudson Motor Car. . Raw Futures Go Higher on Cov-| 27% 10% 16% 1 xuwmgu. Motor Car. 116% 9% 101% 7 IlinolsCentral..... ering by Trade. —_— 3% —— Independent Oll & Gas NEW YORK, November 3.—The raw ' —— — 31% 2% Inland Steel......... sugar market was steady today, but 45 81 e 28% 2 Inspiration Copper. no sales were reported and prices 32K 17% 91% —— Interboro Rapid T were unchanged, with Cubas quoted 433 28% 39% 4% —— Inter Agricultural pt. at 6%, cost and freight, equal to 6.91 38% 26 81 3 Intgrnational Coment. for centrifugal = . | s0% 20% 19% 2 InternatComb Engine. Raw sugar futures were steadler'1igy, 79% 66% b International Har and prices were higher on covering 119 = 106% 7 mew. and trade buying, prompted by re- vorts of a better inquiry for refined. Final prices were at abouf the bes and 3 to 11 points net higher. De cember closed at £.00; March, 3 May, 4.08; July, 411 Eaad re were no changes In refined —— = sugas prices, which are jisted at from | —— —— o4 Int Telephone & Telog. 3,60 to 8.70 for fine granulated,. but, 26% 1 Intertype Corporation. & better inquiry was reported. 20% 7% —— Invincible Ofl. CHICAGO MARKET. , November 3.—Libb; 1 u...u“;&':‘:‘:-‘ Union _Carbide, i 4 Kansas a4 w:fguy.- 118;" Yellow. Minufac- | 31 28 —— Kayser ng “B,” 95%:; Yellox Taxl, 113, 3 P A S g LR R S 5 S I R R T IR R SRR O I +44+ | +4 oY 1 e | @ 4“@5&"'»'« - [0 |=ggmacge]=|=|]| St Louls Southwestern p: Savage Arm: Bchulte Stores. Seaboard Air Line pt Sears-Roebuck. Ty Senéca Copper..... 29% 206 Shell Trad & Transport. 12% 1 Shell Union Ofl. 90 6 Bhell Union Oil pf 64 —— Stmms Petroleum. 1 Simmons Co.. Stnclair Con Oi1 12% — Skelly Ofl. =] ]3] B R L RS T e S S e S +4% Sterling Products... Stewart Warner Speed. 7 Stromberg Carb 10 Studebaker.. —— Submarine Boat. .. ~—— Sweets Co of America. ‘Tennessee Cop & Chem +hb bt |4t v 13% — U S Hoffman Machine. 140 —— U SIndustrial Alcghol 88% 8 United StatesR & Imp. e g 44 a ey £ ¥e FEe Ore Bhort Line ret s 1 5% Ore-Wash 1st ref 4a 19 = Vanadium C . 4% anadium Corporation. jrecte 6% —— Virginta-Carolina Chem.. 17 —— Va-Car Chemical pt. 2V Vivaudou, 28% DIA.. 14% * 1% Waldorf System (new) 84% 2% Wells-Fargo. 76% 6 WestPennpf.. 8 —— Western Maryland, 14 —— Western Maryland SREEES R "l-l 3 e o 1 ;.‘: J o I S S S S O - _4 ) Fi e P sa5s-3pe 2 & FilgaggsannsgReg 19 —— Wilson & Co... -5~ Willys-Overland.... 42% —— Willys-Overland pt. 199%° 8 :ool'onh (F'W) P T S S B B L o L e o R I b o S o o b R o i i B S I ghaggeageyaiipayeenuszuays s it enesi P 1IN P P g ) - -3 oy ‘T"IE Gi;s! +FEt L+ 2 ¥ s Eer FER2 fi!