Evening Star Newspaper, December 10, 1923, Page 24

FINANCIAL.® - SELLING IS HEAVY N STOCK MARKET So.me Strong Spots, But Many Pivotal Issues Drop to Lower Levels. BY STUART P. WEST, Special Dispateh to The Star. NEW YORK, December 10.—Realiz- ng sales made themselves felt in the tock market today to a Ereater ex- tent than at any t! in over a week. Nevertheless, they did mnot prevent continuance of the rise in certain di- rections. Marland Ofl Jumps. Oil shares were the leaders on the buying side. a remarkable jump oc- curring in Maryland and more mod- est advances In others. The way out- put of crude is now falling off over- production o be cured at an earlier date than anticipated. This quite likely will affect con- siderations of new financing, and the market for the oils was expressing the hope that such financing would not have to be done on the scale ap- prehended a_month and two month ago. The Pan-Americans did move with the American oils. They wwere held fn check by reports that the Mexican insurrection was spread- ing to the’oil regions. Steel Shares Weak. The decrease of 304,241 tons in un- fillled business on the books of the TUnited States Steel Corporation, as ompared with a month ago, was larger decrease than expected. Thé independent steel shares, like Bethlehem, were more sensitive to the showing than was Steel common itself. The street continued to say that the December fizures were not the important thing. and that neither would be the January figures, that it would not be until after the first of the year, when the season of inven- taking was over, that new orders would have their expected revival. Ratirond Sharex Slump. Chicago and Northwestern was a conspicuous weak point among the rails. Directors are to meet tomor- row, and will prol act upon the dividend. Earnings of this road have not shown the improvement some of the others in its section the country have The October results in were disappointiig 31 of particular ould be earn- o and North- stock, against the 5 per cent which has been distributed in dividends. Earnings are, in fact running Lehind those of a year ago when also the dividend was not cov- ercd “common Stocks Sold. Chicago and yme selling ich got be- at North- % over a Northwestern into Northern Paci Jow 54 at one time. In the c this was merely a 1y cline, for the road has nicked up re- markably in the last few months, and is now re of earning over 6 per cent on its stock against the 5 per cent dividend Northern P: on the other hand, will probably not quite cover its 5 per cent distribution Merger Talk Helps Ofls. The conspicuous strength in Mar- land among the oil shares again to- day was set down in some quarters to the report that a member of th® Standard Oil_ group coniemplated taking over Marland at something ce 340 a share. But this rumor was t credited by persons in close touch th the company's affairs. Rather he upbidding of the stock was utr ributed to the belief that Marland's large holdings of high gravity oil would eventually vield satisfactory profits and put the company in a sub- stantially better position. It is un- derstood that the latest information from the mid-continent fleld has been highly favorable. S Reynolds I Puzzle. The activity in Reynolds Tobacco B since the declaration last Thurs- day of only the regular dividends has been puzzling to persons who had looked for more than the 75 cents quarterly disbursement. The buying in the stock today was one of the outstanding incidents among the tobacco shares. From one source it was reported that extra dividends either at a special meeting or at the next regular dividend meeting are pected. Reynolds is carning well over the $3 dividend on the com- n_sto. Srecial Issues Jump. Corn Products and General Electric stood out as the striking features of the late afternoon. Corn Products went through the 139% mark, which was its former record, made last anticipating an extra divi- dend. neral Electric, above 200, ~wvas higher than it has ever sold on the present capital. There is talk of melon cutting in this connection, 100, point thetic de- CLOSE IS IRREGULAR. Small Rally in ZLate Trading. Sales, 1,000,000 Shares. T the Associated Press. NEW YORK. December 10.—Stock prices were subjected to intermittent selling pressure in - today's active market with irregular recoveries 1aking place toward the close. North- western railroad shares again yield- ed to pressure, but good buying took place in & number of the low-priced oils and _specialtl Sales approxi- mated 1,000,000 share: The closing was irregular. The list tended upward again in the final hour in response to more extended short covering. Corn Products jump- ad 3% to 140, a new 1923 high, and Davison Chemical and Plerce Oil pre- ferred each climbed more than § moints above Saturday's final figures. GROP REPORT MAY STABILIZE INDUSTRY Government Figures, Due Wednesday, Awaited in Cloth Markets. {Epecial Dispatch to The Star. PHILADELPHIA, December 10.— "There is an expectation in textile cir- s here that when the final gov- ernment cotton crop figures are out of the way next Wednesday there will be much more stability mani- fested in the textile industry here. The erratic movements of ‘the raw staple have been very disturbing to spinners, cloth manufacturers and re- tall distributors in ‘this territory. Prices of yarns and cloth have not kept pace with cotton prices, and producers have been selling below the cost of replacement. ‘There has been much hesitation on Jthe part of distributors, lest a drop 'might leave them with a_lot of high- priced goods on their hands. With 1he crop reports and irventory season out of the way, there is a general ex- pectation that 'a general stocking up is likely. Merchants are beginning to feel that perhaps they have over-es. timatel! buyer resistance to higher “cloth prices. ? in the oil trade promises | that | dicated that | Northern | Ady Rumley. ... Adv Rumley pf. Afr Reduction. . Ajux Rubber. Alaska Gold. ... Am Bank Note.. Allled Chem. ... Allis Chalmers. . Am Ag: Chem Am Ag Chm pf.. Am Beet Sugar. Am Bosch. . Am Brake Shoe. Am Can. AmCanpf... Am Car & Fdy.. Am Chain (A).. Am Chicle Co. .. Am Cotton Ofl.. Am Cot Oll pt AmCot Octfs. . Am CotOpf ctfs Am Express Am H & Lea pf. Amlce. ... Am Internat’l Am La France. . Am Locomotive. Am Radlator. .. Am Safe Razor. Am Ship & Com. Am Smelting. AmSnuff.... Am Steel Fdy Am St Fd pf. Am S Am T & Cable Am Tel & Teleg. Am Tobacco. ... Am Tobac (B).. Am W W 7% pf. Am Woolen Am Writ Prof.. | Am Zinc & Lead Am Zine&Ld pt. Anaconda...... Armour of Del pt | Arnold Constab. Asso D Goods. ... ! Associated Oll.. Atchison . Atchison Atlan Bir & Atl. | Atlan Cst Line.. Atlantic Fruit. . Atl Fruit stfs Atlantic Gulf. Atl Gult pf. Atantic Ref. | Atias Tack | Austin Nicnots. Auto Knitter. Baldwin Loco Balto & Ohlo. Balto & Ohio pf. | Barnesdall (A). { Bayuk Bros.... | Bayuk Brolstpt Beechnut Pack. | Beth Steel | Booth Fish. Br Em Stl - Bklyn Edison. .. | Brkiyn-Man Tr. #rown Shoe pf. . Brunswk Term. ch & Pitts. Burns Bros (B). Butte Copper. Butte & Super.. | Butterick...... | Caddo Oil. | Calif Pack Calif Petrol Calif Petrol p! ahan Zinc { Canadian Pac. {Case (J 1) pf. Centrai Leatn.. Cent Leath pf Cent RROfNJ.. | Cerro de Pasco. Chandler Mot. Chesap & Ohio.. Ches & Ohio pt !Chi & Alton { Chi & Alton pf.. Chi Grt West. Chi Great W pf. ChiMil&StP.. Chi Mil &St P pf Chi & Northwn.. Chi RI& Pac... ChRI&P 6%t Chi R I&P 7%pi. Chi StP M &O. { Chile Copper. Chino Copper. .. CCC&StL.... Cluett Peabody. Coca-Cola. . Colo & South. .. Columbia Gas Columbn Carb: Com Solv (B Comp Tabulat.. Congoleum Co. ..« Conley Tin Foil. Cons Gas of NY. Cons Textile. Cont Can : Cont Insurance. Continental Mot Corn Products. . Cosden & Co. ... Crucible Steel. . Cuban-Am Sug. Cuba Cane Sug. Cuba Cane 8 pt. Cuban Dom'can. Cuban Dom pf. . Cuyamel Fruit.. Davison Chem.. D Lack & West. Dome Mines. ... Douglas Corpn. Dugont (ED... Durh'm Hos pf.. Eastman Kodak. BatonAxle &Sp. Elec Stor Bat... Elk Horn Coal.. Endicott-John. . Endicott-J pf... Erie 2d pf. - Famous Players Fd Mines&S pf. Fifth Ave Bus.. Fisher Bof O pf. Fisk Rubber.... Fleishman. . . Foundation Co.. Gen Am Tk Car.” Gen Asphalt. ... Gen Asphalt pf. Gen Clgar.... Gen Electric. ... Gen Elec spl Glidden Goldwin Corp Goodrich...... Goodyear pf.... Granby Consol.. Gray & Davis. Gt Northern pf. Great Nor Ore. Guantana Sug- . Gulf Mo & Nor. . Gulf M & Nor pf. Gulf St Steel.... Harbishaw Cab. Hanna (M A) pf. Hartman Corp.. Hayes Wheel Hendee Mfg. Homestake. Househ’d Pro Houston Ol Hudson Moto Hupp Motors. Hydraulic Stl Illinols Central. 111 Cent pf fpd. Indiahoma. Ind Oil & Gas. .. Indian Refining. Inland Steel.... Inland Steel pf. Inspiration. ... Interb Rap Tr.. In Ag Chem p' Int Cement..... In Combust E. . Int & Grt North. Int M Marine pf. Int Nick: Int Nickel pf. Intl Papel S Intl Paper (sta) Int Shoe pf. ... Int Tel & Teleg. . 109% Open. High. 9 9 33% 38% 67 67 7 7 k3 99 684 45 11% 37 39 37 76% 103% K 99 €815 45 11% 37% 39 37 764 103% 109% 168 234 13% 93y 29% 9% 204 88% 428 8915 23% 11% 3% a5 7 10% £8Y 167 23% Low. Close. 9 33 67% 7 K 99 68 444 11% 35% 39 36 T6% 102% 109% 167 23 13% 915 20% 9%y 28% 88% 41 88 23% 11% 73% 04 7 1043 1424 1 381 149% 76 115% 191 12% 131 55 107% 26% 6343 13 65% 113 21% 29% 26 70 42 9% 99 ™% 45% Y 45% 36% 6% 84 193 10% 15 48 8% 9 22 39% 13% ™ 58% 30% 64 16% 89% 21% 574 834 63 28 22% 5% 103 104% 2% 5% 4% 38 101% 26% 13% 55 43% 25 24% % 6% 29% 12% 803 34% 62 62 16%,. 116% 69 5% 3% 37% 101% .+ 25% 18% 5% 42 24% 20% % 6% 28 12% 80% 34% 61% 116% 68% 9 33 674 T k) 29 684 44% 1% 35% 39 36 764 103 109% 168 23 13% 91 204 5t 154 19% 2ty 804 23t 96 44 20 o | 70% 116% 69 THE EVEN ! Intertype Corp. Invincible Ol1 Iron Producti Jewel Te: Jones Tea Kansas C So pf. | Kayser (Julius) Kelly Spr Tire. . Kelly-Spr 6% pt Kelsey Wheel.. Kennecott. Keystone Tir. Kinney G R Kresge (SS). Lee T & Rubber. Lehigh Valley.. Lima Locomo. .. Loews Inc Loft Inc . Loose-Wiles. Lorillard (P) 3 ay Cos. ... | McIntyre Por. Mack Trucks. .. Mallinson & Co. Mallinson pf. Manhat El Sup Manhata Ei guar Manhat Shirt Maracaibo Oil.. Market St prior., Narlandoll.... Marlin-Rockwl. Martin-Parry. . Mathison Alkill. Maxwell (A)... Maxwell (B)... May Dp Stores Met Edison pf.. Mex Seaboard. Mex Seabd ctfs. AMiami Copper. Middle St Of Minn StP & SSM. Mo Kan & Tex. Mo K & Tex pt Mo Pacific. Mo Pacific p: { Montg'y Ward Moon Motors. .. Mother Lode. sh Motors. | Nash Motors p Nat Biscuit. .. Nat! Enamel. Natl Lead...... Nat! Ry of M 2a. Nat Suppl {N Y Air Brake. Y Canners. . ¢ Central.... YChi&StL.. Y Chi& StL pf. NH&Hartfd. Y O & Westrn. orf & Western. orth Amer.... orth Am pf.. orth Pacific Ontario Silver. . Orpheum Circuit. Otis Elevator. .. Otis Steel. ..... Owens Bottle Pac Gas & Elec. |Pamificotl...... | Packard Motor. | ard Mot pf. ac Tel & Tel | Pan-Am Pete | Pan-Am P (B | Parrish & Bing. | Pernsylvania. | Penna Coal & C. 2 eabd Stl People’sGas.... ! Pere Marquette. | Philadelphia Co. | Phiilips Pete. Pierce-Arrow. | Prerce Ar pt. | Plerce Ar prior. Pierce Oil pt. itts CC & St L Pitts Utilities pf. Pitts & W Va Postum Cereal Pressed Stl Car. Produc & Ref. Pro & Ref ctf; Pub Service Pullman Co Punta Alegre. Pure Oil. . Ray Con Copper i Reading.. Reading 1st pf. Reading 2d pf. | Remington.. Replogle Steel | itep Ir & Steel. . | Rep Ir & Stl pt | Reynolds Spr | Rey Tobac (B).. j Royal Dutch.... St L&San Fran. St L&San Fr pf. St L Southwn, | St L South pt. | San Cecll Sug. ‘avage Arms. Schulte Storei Seaboard Alr L. Seabd A Lpf. . Sears Roebuck. Seneca Coppe: { Shattuck-Ari: | Shell Union | Shell Union pf. Simms Petrol... Simmons. Simmons pf. Sinclalr O1l. Skelly Ofl Sloss-Sheffel: So Porto Sugar. South Paclfic. Southern Rwy. Southern Ry pf. SpicerMfg Co. | St O11 of Calif. Stand Ofl of N St Oilof NJpf. Sterling Prod... Stew’'d-Warner. Strombg Carb. Studebaker. Submarine Superior Oil Superior St | Sweets Co ot A. Tenn Copper. Texas Company. Tex Gulf Sulph. Texas & Pacific. Tex & P C & Ol Tide Water OIl.. Timken Bearing Tobacco Prod. .. Tobacco Prod A. Tobacco Pro pf. Trans Cont Oil... Underwood. ... Union Bag & P.. Union Ofl. . Union Pacific Union Pac pt. Un Cigar Strs... United Drug. United Ry Inv.. Utd Ry Inv pf. U S Cast I Pipe USCastIr P pf. U S Food Prod. S Hoffman M S Indus Alco. U S Smelt&Ref. U S Steel. Vanadium Corp. Van Raalte. .. Wabash........ Wabash pt (A). Wabash pf (B) ‘Waldort System. West Elec pt. Western Md. Western Md 2d West Pacific. West Pac pf. Western Union. Westhse E1&M. ‘Westhse 1at pf. . Opea. High. 80 1% 53 49 19% 257 20% 52 86 81% 7 96 344 3% 57 299 144 63% 14% 6% 357% 116% 59 90% 86'% 1057 1% 214 31 3 9 41% 591 21 9% 13 38% 5% 923 1144 2% 387% 604% kol 129% 71 185 78% 46% 185 11% 3915 2% 56" 82 3% 18 62% 94 37% 22 944 119% 64 30% 28% 8% 4% 29% 13% 11% 35% 234% 16% 112% 10% 18% 16% 59% 109% 61% 2 30 11% NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. Close. 30 10% 53 49 19% 25% 19% 52 364 314 75 96 33% 3% 57 299 14 63% 664 18% 8% €3% 175% 108 184 87 30% 86 40% 33 444 26 69 35 6 334 43 46% 13% Bay, 9214 134 12% 21% 5% 49 128 32% 30 11 63 49 19% 25% 19% 52% 364 31% 7% 96 344 3% 4 49% 19% 42 335 89% 35 1% 7 15" 81 by 6% 15% 1% 11% 26% 96 23% 225 57 59% 88 374 67 14 57 36 89% | 105 11% 2% 31 3% 8% 41% 59 21% 9% 113 38% 76% 92 114% 2% 38 61% Y% 129 71 185 8% NG _STAR, WASHINGTON, D. C, MONDAY BOND QUOTATIONS VERY IRREGULAR Recent Favorites React as Week Opens—Southern Railways in Demand. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, December 10.—Prices moved irregularly at the start of the week’s trading in the bond market. Some of the more speculative favor- ites of the past month, particularly in the rallroad list, reacted under profit taking and in sympathy with stocks. There was a good demand, however, for good middle and second grade investment bonds. Interesting Extremes. Chicago and Western Indiana 4s and Chicago, Terre Haute and Southeast- ern 5e are instances. The two differ widely in quality, Chicago and Western Indiana issue bing entitled to a much higher rat- ing. The other bond is now an obli- gation of the St. Paul system, but depends for its standing not on the St. Paul's guarantee, but upon the valuable mileage upon which it is secured and jts own earning power. Between these two extremes bonds of the grade of Southern Railway general 4s. which ran up to 69 under fairly heavy transactions, were in de- mand. _Among the industrials Her- shey Chocolate 6s are an example, selling up to 101, & new high on the present movement Erles SUghtly Lower. On the other hand, speculative raflroad issues such as the Erie con- vertibles and the Chicago and Alton 3%s were fractionally lower. Sea- board Air Line first 48 also got be- low thelr high of last week. Peoria and Eastern Incomes, however, went up a half polnt. In the foreign group there wag a substantial rally in Bollvia 8s, carrying the price up to 86, against the recent low of 83%. Probably the only excuse for the low price of these bonds is the unfamil- tarity of American investors with the security Interest and sinking fund require- ments amount to $2,400,000 annually and the revepues pledged as security for the loan amounted to over 34 000 in the first ten months of Bolfvia has never defaulted on external loam. European Group Qulet. Mexlcan bonds were down agiin on news of the disturbances in that country, the 55 sustaining the greatest loss. Brazil obligations were a little firmer. Price changes in the European group were small Generally the high-grad= domestic investment bonds were firm. more_and Ohio 4s were well bought and New York Central 5s showed a good tone. Comparatively little in- terest, however, was takn in this grade of bonds. 102-POINT BREAK IN COTTON PRICES Week Opens With Violent Drop, Partly Due to Coming U. S. Cron Estimates. By the Associated Press. NEW YORK, December 10.—The local cotton market today broke 100 to 102 points below Saturday's close on weak Liverpool cables and a read- justment of ideas as to the next crop estimate. Liquidation carried January down to 32.78 and March to 33.20. New Orleans Prices Also Tumble. NEW ORLEANS, December 10.— Declines of 60 to 70 points were made by the cotton market in the first half hour of trading today. in sympath with a weak Liverpool and an upward revision of crop ideas in preparation for the annual crop estimate by the government which is due Wednesday. A local estimation of 9,959,000 bales {as the total crop caused considerable { selling. a pound. i Noon Bids on Cotton. NEW YORK, December 10.—Cotton futures, 11.45 am. bids; steady; De- cember, 33.72; January, 33.08; March, 83.45; May, 33.68; July, 32.88. This decline represents a drop of from $30 to $21 a bale from the sea- son's high point on November 30. The trade here now anticipates a vield of about 10,000,000 bales in the forthcoming government crop stead of previous estimates of from 9,250,000 to 9,500,000 bales. NEW ORLEANS, December 10. Cotton futures, noon bids; steady: 90 asked; January, 32.93; May, 33.07; July 32.64 —_— FOREIGN EXCHANGE. (Quotations furnislicd by W. B. Hibbs & Co.) Nominal Selling checks, gold value. ' today. London. pound 't Montreal, doll jParis, fran Brussels, franc. Berlin, ‘mark. Kowe," lira. Zurich, frane Athens, drachmi Budapest, FPrague, crown Warsaw, mark. By the Associated Press, NEW YORK, December 10— Forelgn exchanges steady. Quota- tions (in United States dollars): Great Britaln—Demand, 4.36%; ca- bles, 4.36%: 60-day bills on banks, 4.34 % France—Demand, .0534 bles, .0534%. Italy—Demand, .0434; cables, .0434%. Belglum—Demand, .0461%; cables, .0462. Germany Demand, .00000000000025; .00000000000025. Holland .3800; cables, .3805. Norway—De- mand, .1491; Sweden, .2630; Denmark, .177; Switzerland, .1743; Spain, .1301; Greece, .018: Poland, _.00000030; Czechoslovakia, .0292 Jugoslavia, .0114; Austria, .000014%; Rumania, .0051% ; Argentina, .3162; Brazil, .0920. Montreal, .97 19-32. RATES ON BAR SILVER. LONDO! December 10.—Bar sil- ver, 33 1-16 pence per ounce. Money, 13 per cent Discount rates, short bille, 31-16a33-16 per cent; three- month bills, 33-16a3%. NEW _ YORK, December 10.—Bar sllver, 641%; Mexican dollars, 49%. 8% 15% 24 56% % 2% 21 9 7 34 284 26 13 68 ‘Wheeling&L/E. . ‘Wheel & LE pf.. ‘White Eag Oil.. ‘White Motor. ‘White Ol ctfs. 8% 8 16% 24 56 ¥% 3 21 8% T2% 33% 284 279% 279% 26 26 26 18% 13 13% 68 68 68 Willys-Overl pt Wisconsin Cent. Woolworth. ... ‘Worthington. Wright Aero. Youngstn Tube. t. {*oad o High. Low. Last. Call Mconey. ... % 4% 5% HOURLY §/.LES OF STOCKS. 800 870 Ralti- | | January fell to 33.15 cents| in- | , DECEMBER 10, 1923. ox vev vorx BONIDS srock sxomance Recelved by Private Wire (Bales are {n $1.000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 98-3 means 983-32.) Sal High. Low. Close. 158 99-20 99-28 §99-28 4 98-14 98-11 98-14 Lib2d 4%s 216 98-11 98-8 98-10) Lib3d 4%s 737 99-9 99-6 99-8 ! Lib 4th 4%s..1496 98-14 98-10 98-14| US4%s1952. 301 99-18 99-16 99-18 FOREIGN. Bales. High 26 102% 17 87% 13 97% 23 91w 6 98% 2 108% .43 86% 9 T5% .24 Lib3%s Lib 15t 4% Low. Close. 102 102 87% 87% | 914 97 | 97 98% Argentine 7s. Austria 7s Belgium T%s. Belgium 6s. Belgium 8s Bern 8s. Bolivia 8s. . Bordeaux 65 Brazil 7s Brazil §3 Brazil T%s. Canada 55 1926 . Canada 5%s 1929 Canada 5s 1952. Chile ¥s 1946. Chile 851941 ... Chinese Gov Ry 5s. Copenhagen 5%s Cuba bi4s ctfs. Czechoslovakia 8s. - 108% 86 T5% 8% 95 9614 9914 100% 8% 954% 964 99% 101 99% 104% 105 44% 864 90 94 93% 0% 95% 947% 89% 96% 92% 90% 75 94 104% 105 441 86% 89% 94 Denmark 6s. 93'% Dutch EI5%s. . Dutch East I Dutch East I 6 Framerican 7izs French Govt s French Govt 7% Haltl 6s. Holland-Amer 6s.. Japanese 1st 4%s. Japanese 48 - Jergen UM Lyons6s. .. Marseille s, Mexico 5s Mexico 45. Montevideo 7s. Netheriands 6s. Norway 8s. . Norway 6s 1943 Norway 6s 1952. ... Orlent Dev deb 6s. Paris-Ly’'s-Med 6s. Prague T%s Rio de Jan 8s 1946. Rio de Jan 85 1947. Rio Gr Do Sul 8s. Sao Paulo State 8s. Seine Dept of Ts.. ... Serbs Croats Slo § 3 Sweden 6s. . Swiss Confed UQ Kingm 5izs "2 Ud Kingm 5%s "3 Ud Steam Copen 63 86 Zurich 8s. .. 110 MISCELLANEOUS, Am AgrChem 7%4s 15 977 Am Chainsf 6s'33. 10 9 Am Cotton Oil 58 17 Am SmI&R 1st 5s. 19 Am SmIt&R 6s. ... 24 { Am Sug ref 65 18 AmT& Tev 6 66 AmTe&Teltras.. 4 AmT&Tcltris.. 63 Am T & T deb 5145211 Am Wrlt Paper 6s. 4 Anaconda cv db 7s. 49 ! Anaconda 1st 6 Armour & Co 415 Armour of Del 5% Asso Oll 65 r = Bell Tel Pa 5t . Beth Steel 5%5s'53. Beth Steel rf 65.... Beth Steel pm 5s. .. Bklyn Edison 7s D. Bklyn Ed gen 5s. ... Bush T Bldg 5 '60. Calif Pete 6%s w 1. Central Leather &s Cerro de Pasco §s. Chile Copper 6s. . .. ICin G & E5%s '62 |Commonwtn P 63 Con Coal Md 1st 5s. Cuban-Am Sug 8s. ba Cane cvd §s. “uba Cane cv 78 '30 Det Edison ref 6s. Donner Steel Du Pont de N i %s. Duquesne Light &s Est Cuba Sug 7%s. Empire G&F T%s Fisk Rubber §s 103% 111% 108% 100% 9715 e = omBlatruamn wBwennmnie Gen Elec deb 55 Goodrich 6%3s. ... Goodyear 8s 1931 Goodyear 8s 1941 Hershey 6s 1942. Humble O&R 5%s. {Indlana Steel 5s {[llinots Beil 1st s Int Mer Marine és. Int Paper 1st 5s B. Kayser (J) 7s... |KCP&Ltss A5 Kelly-Spring 8s. Lackawa S 6550 Liggett & Myrs 55. { Lorillard (P) b8 Magma Cop cv Marland Oil 7%s. Marland Oi! 8s "1, Marland O THsW.. Midvale Steel 5s ct. { Montana Power 58 Morris&Co 1st 41 Nat Tube 1st o8 New Eng Tel 5s. N Y Ldsn 1st 6%s. NYG EL H&P INY Tel 63'41. N Y Tel 65'49. NY Tel 4%s N Am Edison 6s | Nor States Pow & 1 Nor States Pow. Northwst B Te 7s.. Otis Steel 8s. | pactnc Gas £ E1 5 | Pacific T & T 585 Pan-Am Pete 7s. Phila Co ref 6s A | Plerce-Arrow §s. Producers & Rf 8s. Producers & R §s % Punta Alegre 7s. Saks & Cosf7s. Sinclair Oil 78 Singlair Ofl 6%s. .. Sin Crude Oil 5%s. Sin Crude Oil 6s. Sin Pipe Line 58 So Por Rico Sug 7s. Steel & Tube 7s. ... Sug Est Orient Ts. Tenn Elec Pow 6s. Tide Wat Oll 6%s. Toledo Edn Ist 7s. Unit Drug cv 8s. U S Rub st rf 5s U S Rubber 7is. U S Steel st 5 Utah Pow & Lt 5s. Vertlentes Sug 7s. Va-Car Chem 7s. .. Va-Car Ch T%s w. ‘Warner-Sugar 7s.. West Unfon 6%s. .. Westinghouse 75 Wickwire Spen 7s. wilson & Co 1st 65. Wilson&C cv 1% Wilson & Co cv 6 Winchester A 7ls. Youngstn S & T 6s. 11 e RPN mm— 9% 101% 884, 96% 96 112% 984y 1014 121 8615 951y 79 99%% 975 110% 9Ty 104 106 9814 904, 90 100 107% 98" 90% 91 102% 100 74 107 111 107% 104% 93% 874% 974 967 81 101 104 9615 94 102% 107 110% 86 103% 1024 884 931 23’6 8! 103" 108% 107% 76% 96% 95 83"% 101% 94N core P I - aemSacuan 0 B s pBrreEadRonmk Haanuwmabtno e 103 108 10714 5% 96 95 8315 101 94% © TWO FLYERS MEET DEATH IN TRAINING PLANE CRASH HOUSTON, Tex., December 10— Lieut. L. J. McLaughlin, twenty-six, and Capt. E. T. Wagner, twenty-nine, were killed at Ellington Field yester- day when the wing of a training plane in which they were fying col- fapsed and the plane plunged to the ground. McLaughlin was a pilot and Wagner chiet observer in_ the re- cently organized 111th Air Squadron, 36th Division, Texas National Guard. Both were married, with families here. Hundreds of persons who had gath- ered to watch gunnery practice of the 43d Pursuit Squadron here from Kelly Fleld, San Antonio, witnessed the crash. Lieut. McLaughlin was trained at Ellington Field and served during | Atchison gen 4s. 0| 98% | 99% | Direct to The Star Office. RAILROADS. Bales. High. L 34 8% 11 1 .19 20 . 92 Ann Arbor 4s. . Atchison adj 4s. Atlantic C L 1st 4s Atlantic C L cl 4s B&Opriniks B&Ogold 4 B&O6s. B&Ocv4ls B&Orefss... B&O PLE&WV 4; B& OSW divis B & O Toledo 4s Bklyn-Manhat 6s. 209 Bklyn RT 7s°21... 2 BKIR T 7s'21ct... 10 BKIRT 7s°21 ct st. 12 Canadian North 7s. 11 | Canad North 6%s. . | Canad Pac deb 4s.. Car Clinch & O 6 |Cent ot Ga 6s | Ches & Ohto cv Ches & Ocv4¥s... |Ches & Ogn 4%s. . Chi & Alton 3s..... Chi & Alton 3%s Chi B&Q gn 4s'58. Chi B&Q 1st rf 5s. . Chi Great West 4s. Chi GrWest 4s (n). {C M & Puget Sd 4s. {ChIM &St P re 44 |Chi M&St Pev 5s. . Chi M&St P 48°25. . Chi M&S P cv 4%s. 1 Chi Rys 58 i Chi& NW 3 |ChiRI& P gn4s {ChiRI& Pacrf 48 {ChiLn Sta 4%s.... ChiUn Sta 6%s.... Chi & W Ind en 4s. CCC&StLTf6sA.. Cleve Term 5%s. .. CubaRR3s. ... Del & Hd 1st rf 4s. Den & Rio Gen 4s. DERGstreSs.... Erle 1st con 4s. | Erte gen 4s { Erie conv 4s A. {Erie conv 4s B. Erie conv 4s D. Gr Trunk st db 6s. . Grand Trunk 7s... Gr North gen 7 Gr North gen . Hud & Man ref 5s.. Hud & Man aj 5s... 111 Cent ref 55 '35. . 1l Central 5345 Int Rap Tran 5s. .. Int Rep Tr &8 stpd . Int Rap Tran 6 lInt Rap Tran 7s. {Int & G Nor aj 6 Int & G Nor Ist 6s. ty FtSds... ansas City S 3s Clty S 55 City Term 4 Lake Shore 45 '28. . Lake Shore 45 '31. . Louls & Nash 7s. .| c N 58 2003.. M&StLIstrf4s.. MK & T 1stds. MK&Tprinssa MK&T4sB MK&T6sC. MK& Tadj5 o Pacific 6s. L Mo Pacific 5s '65. 0 Pacificgn 4s. .. NOTex & Min 5s. Y Cendeb6s.... Y Centriss. Y Cen LScl 3%s. Y Centcn 4s '98. w Haver cd 6s.. Y State Ry 4135, N Y W & Bos 41zs. Norfolk & W cn 4s. Northern Pac Zs... orthern Pac 4s. .. Northn Pacri6s.. Northern Pac 58 D. Ore & Calif 1st bs. . Ore Short L ref 4s. Ore-Wash 1st f 4s Pennsyl gen 5s.... Pennsyl gen 4%s.. Pennsyl 6%s Pennsyl gold 7s. Pennsyl con 4135, . Peoria & E inc 4s.. Fere Marq 1st 53 Pere Mrq 1st s’ Reading gen 4s. Rio G West cl 4s 2 wamnn o R LD Z 'd A L adj 5s.. Seab’d A Lcon 6s.. 64 Sou Pacific 4s 1929, 2 Sou Pacfic ref 4s... ou Paclfic clt 4s outhern Ry 1st Southern Ry gn 4s. 5 Southern Ry 6%s. . Southern Ry 65 c Sou Ry Mobile 4s.. Third Ave ref 4s Third Ave adj os Union Pac 1st 4s... Union Pac 1st rf 4s Union Pac cv 6s. Union Pac st rf 55 Virginia Ry 1st 5s. Wabash 1st 5s. bash 2d 55 Western Md 4s.... Western Paclific 5s West Shore 1st 4s. Wisconsin Cent 4s. 101% 96% 75% 5318 443, 914 82% 1027 100 94% 96% 88 59 80% 79 76% © BraSuanae Lg% 14 20 5 5 11am.. 2201000 12 noon 1pm.. 4429000 2pm.. Rate—Matcrity. December 15, 1923 414s March 15, 1924 41s March 15! 1924 5%s June 13, 1 5135 September 1 4%(s March 15, 1025, 41zs June 15, 1825 4 4 December 15, March 15, 19026 41is September 15. i 4%s March 15, 1627 4125 December 15, 1027. Bia. 1001 1924 Alumivum Co. of Amer. Ts 1025. Aluminum Co. of Amer. s ¥ American Cotton Ol 6s 1024 American Sugar 6s 1937 American Tel. & Tel. 68 i American Tel. & Tel. 8s 1625, Anaconda Copper 65 1020...... Anglo-American Oil Tibs 1935. Bafe fo 6s 1024.. .00 Cana Central Argentine Rw Central Leather 5s 1 Chi... & . 111, of Bow. 53s 1925 Federal Sugar Ref. 6s 1033.... Fisher Body Corp. 0a 1021...... orp. i ! &R 8 191, Great Northern 7s 1936, Hocking Valley 6s I Humble Oil 5i4s 1982 Kennecott Copper 7 Libby, McNeil & n State Tel 58 1924. . & B, 8. M. 6348 1931, & Co. Tihs 1830. 5 it . R. 78 1890... 8¢, Paul Union Depot Bigs 1023 Bwift & Co. 58 1632. Tidewater Oil 833 193] £% RobberTuds 10w . §. Rubber Vestern Daton 61 Westinghouse E. 1930 s 1936 99 31.3: Low. Close. 57 67 8T% R4 80% 80% 86% 87 82 82 96% 96% 81% 81% 100% 100% 82% 83% 88% 83% 8% 8% 95% 95% 67 67 67% 67T% 90% 90% 90% 90% 86% 86% 112% 112% 111% 8% 96% 100% 89% 87% 85 65% 34% | 86 98% 52 4112; medium, per Ib 58% 80 79 6% TOTAL SALES (Par Value): 6342000 7572 000 —_— TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noop.—— Offer, 100 3-32 100 13-16 100 % 00 21.32 100 25-33 100 29.32 100 1- 16" 100 5-32° SHORT-TERM SECURITIES. (Quotatiers furnished by Redmond & Co.) ——Noon.—, Bid. 1 M. 7s 1931 BLAST KILLS BOATMAN. NORFCLK, Va., December y— the war at a number of California|Luther King of Norfolk was killec fields. After the war he was charge of United States forestry pa- trols in California and Oregon. Capt. Wagner, artillery officer dur- ing the war, instructed in numerou a camps In observation worky in {last night by am explosion on a fifty- foot gasoline launch off Old Point So loud was the explosion ping in Hampton ‘ment vessel that ship- I % and .OVCPD{I T Beda wreckeds 1 FINANCIAL, ,Grain, Produce and! Live Stock LOCAL WHOLESALE MARKET. This morning’s market on strictly fresh eggs was not so strong. Re- ceipts are steadfly increasing and dealers predict lower prices in the next few days. Prices ranged from 56 to 60 cents. Fresh western eggs are being received In quantities suf- ficlently large to affect the market fon_nearby stock. | Storage eggs are particularly plen- titul and holders are anxious to get Irid of supplies. This year's supply, {it 1s stated, {s much largerethan that of last year. It is the aim ot packers to get rid of thelr eggs be- fore January 15, according to local dealers. Because of the large quantitles in storage, it is stated, there probably will be storage cggs on the market until early spring. Today dealers of- ifered storage stock as low as 29 cents. gs—Strictly fresh, selected, can- dled, per dozen, 58; average recelpts, b6; storage, 35ad6. | Live poultry—Rposters, per 1b.. 1 [ turkeyn, " per Ib. 32a33; spring chick- | ens, per 1b., 27a28; keats, young, each, 60a70; fowis, per 1b., 24225 Dregsed poultry—Fresh-killed spring chickens, per b, 30a32; roasters, per 1b., 28a30; hens, pec Ib. 27a25: turkeye, per Ib., 34a36; keats, YOung, ch, 86a85; roosters, per 1b., 20. me—Rabbits, No. 1, per dozen, No. 2, 1.25a1.50. Live stock—Calves, choice, per 1 11; thin, per 1 bs. spring, per Ib., 13. Live 00 each; live hogs, per lb., 8a10. Lai g"KS‘ 3.00a % Green fruits—Apples, per basket, 50a2.00; per barrel, 2.00a6.00. Cali- fornia oranges, per crate, 6.00a7.00; Florida, 3.00a4.00. Lemons, per box, 3.50a4.50_ Grapefruit, 3.00a3.50. Cran- berrie, 00a6.00 per one-half barrel. Grapes, California Emperos, 1.75a2.00. Vegetables—Potatoes, No. 2 2.30; No. 2, 1.00a1.50. Potatoes, round per bag, 2.00a2. sweet potatoe: 5. 6.00 per bbl. jouthern lettuc per crate, 1.0042.00; nearby, 50a1.00; Iceberg. 4.00a4.50. Cabbage, northern, 1.50a2.00 per 100 1bs.: nearby, 1.00a {150 " bbl. Tomatoe half-bushel basket, nearby 1.00a2.50. Beans, southern, per hasket, 3.00a3.50. Peas, per basket, 3.00a4.00. Ne York ce rate, washed, 5.50a6.00; in w York, 2.50a4.00; Call- 50a6.00. Squash, 2.50a3.00. 2 . per crate, Florida, 2.50a3.50. kplant, 4.00a5.00. Kale, per bbl, 1.50. Spinach, per bbl. 2.00a2.50. outhern cucumbers, per bushel, 4.50a 6.00. Carrots, 100-1b. sack, 2.25: Brussels sprouts, 15a20 GRAIN AND PROVISIONS BALTIMORE. Md.. December 10 (S cial).—Potatoes, white. 100 pounds, 150 pounds, 1.00a3.30; sweets an, bbl., a4.50; bu., 1.50al.7 . bu, a3.50; beets, per 100, 3.00a5.00; brocoli, bu., Brus- sels sprouts, quart, bbage. per 100, 4.00a6.00; s .+ 35a40; carrots, per 100, celery, crate, 2.00a4.00; cucumbers, crate, 4.00 &4.50; eggplan crate. tuce,’ bu. 25a ka onions, 100 pounds, 2.0, plants, per 100, 5.00a7.0 basket, 40a45; pea hamper. 3.00a 5.00; peppers, crate, 44.00; pump- per 100; 10.00a15.00; gpinach, bu., 50a70; turnips, bu., 30a33; tomatoes, crate, 1.50a5.00, Apples, packed. bbl., 2.00a4.50; 50a1.25; hox apples, 1.25a2.50: 1 100 pounds, 1.00a1.25; cranberries, 6.00a9.00; grapefrui box, oranges, box, 2.00a3. i 3 1a3.23; pine apples, crate, 3.00a4.5 Settling Prices on Gral Wheat—No. 2 red winter, 1.09%; No. 3 red winter, {No. 2 'red winter, garlicl mestic, 1.08%; export, o red winter, garlicky, spot, 1.05%; N 4 red winter, garlicky, spot. no quo- tations, Sales—Bag lots of nearby at 1.00 per bushel. Corn—Cob, new, 3.90a3.95 for vel- low and 3.75a3.80 per barrel for white: No. 2 corn, spot, 86% : No. 3 corn. spot 84545 track corn, yeilow, No. 2. new, : ter: parsnips, bu., spot. Sales—1.200 bushels of No. 2 yel- low mixed at § Oats—No. 2 white, new, 53; No. 3 . 2 rve, spot, Hay—Receipts, 78 tons. There is a gradual cleaning up of the accumu- {lated stock of hay in the market and the situation has a better undertone for the better grades of timothy and 0. 1 clover hay, for which there s a fair demand. Medium and low grades are draggy. 1 127750 per ton; 23.50a25.00; 3 clover mixed. clover, 24.00a25.00. —No. 1 straight rye, 25.00 per No. 2 tangled rye, 15.00a16.0 {No. 1 wheat, 13.00a14.00; No. 1 oat, 14.00a15.00. DAIRY PRODUCTS. BALTIMORE, Md., December 10 (Special). — Poultry —Live turkeys, pound, 25a40. Young chickens, 26a 27. Leghorns, 20a24. Old hens, 20a Leghorns, 20a22. Old rooters, 14a 15. Ducks, ~18al4. - Geese, 20a26. Pigeons, pair, 25a30. Guinea fow RAPID TRANSIT 0. COMES OUT AHEAD November Figures Show Net Income of $839.87—Trad- ing on Local Exchange. The Washington Rapid Company boasted a net corporate income of $839.87 during November, a-ct)ording to statement by the Public Utllities: Commission this morning. The company has been rather con- sistent In showing losses, month by month, for the past year, a deficit having been incurred for November of last year, while October's amounted to 3226.80. Operating revenues of the compa during the past month amounted to $26.762, us against $25,999 for thc same month of last year, while op- erating expenses totaled 82 $27,207, resp, ating Incon amounted to aggregating $254 The W Company i busse as compared wi last ar. but covered n miles during t} Past month against 145,652 corresps month of ast year. Passa }1:\!'! brl. increased, u total of res belng carried 5 agains last vear. S ,Imne Bank Earnings Lower. Earnings of fea 1 reserve will be somewhat s i than they were in 1 assets have been kept steady throughout the interest rate has been fa a resuit, the Treasury mates fix the fr. Yyear at $6,000,000, compared an estimate of '$10.000,000 last and actua ayments of ly 5 and 2 of only $7, The total net earnings available last vear for dividend franchise t and surplus aggrega The federal reserv, that after § per cen paid-ia caplital stock of the r banks have been paid, and a s equal to 100 per cent of sy capital stock has been 10 per cent of the rema are to be pald into surp ance going to the gover franchise tax. The largest earnings of any year i the life of the federal reserve were made in 1920, when net available for div £urplus and franchise tax gated $144 The total fra tax paid that year totaled $60,724 In view of the fact that Treas flcials ¢stimate franchise tax rec s year at only $6,000,00 seems probable that net earnings ble fc dividen franchise tax and surplus gate somewhat less tha e it will require m o to provide for dends and surplus Trading on Local Exchange. Washngton Railway mon burst out afresh or ton Stock Exchange fof 113 Transit 774 and The non-oper- ing the past month with deductions ely. year a T The ) 0dd lot sales. i ank was stronger 95, with thirty-five shares chang ing hands, and Raflway 4s, the onl: bond issue traded in, was unchanged at 691 All “of today's “after call.” Loan About as Expected. Local bankers exhibited no undu~ {excitement over the Treasury offer ing announced this morning. The size of the loan and the interest i bears, was pretty well established 11 their minds already. The proceeds of the new issue, to gether with the December tax pay- ments, which Mr. llon estimates will total about $: 0, will be used to retire about $3 turing certificates, 1o pa interest on the public debt. deem approximately $60,0 war saving certificates. Obligation of Depositors to Bamks. In his November letter to the bank ers of New York, Secretary Gal of the New York State Bankers’ soclation devoted a lengthy par. graph to the subject of the above caption, which is of such direct inter est to the bankers of other states that it is reproduced here. “In the race that has been going on for some vears between banks fc large figures, the public has been led to believe by the published invita- tions to open accounts that banks were a sort of philanthropic instit tion, and to a considerable extent a they had to do was walk in and help themselves. For this ognorance the bankers have only themselves to blame. Competition has led to rates of interest being paid that have trade was made 5.,000.01 each, 35a70. Dressed poultry—Tur- 30a40. _Chickens. 25a%8. Old | roosters, 16a17. Ducks, . Geese. | 20a30. H Eggs—Loss off. native and nearby | firsts. dozen, 53a54: southern. 50a Butter—Creamer: good_ to fanc pound, 5 prints, 55a57: nearby creamery. 42a46: ladles, 34a35; rolls, 28a32; store packed, 28; dalry prints, 25a32; process butter, 39. Butter Lower in Price. CHICAGO, December 10.—Butter- creamery extras. 53; stan 4: extra firsts, ' 49a52; seconds, 4213a43%. ver: receipts, 3.124 cases; firsts, 45a48; ordinary firsts, 37a40. TODAY'S CHICAGO PRICES. CHICAGO, December 10.—With little demand in_evidence except on declines, wheat tended downward in price today during the early dealings. Numerous traders continued to assert a bellef that some method would be devised in Wash- ington to stabilize wheat values. The fact, however, that stocks of wheat on hand here “were likely to remain all winter made buyers cautious and led to considerable selling. Opening quota- tions, which ranged from % to % gain with December -1.03% and May 1.09% 1.09%, were followed by a moderate d ciine all around Corn and oats were easler, owing to wheat weakness. _After opening un- changed to % off, May T4% to 74}. the corn market Showed losses all around. Oats started at % lower to a shade advance, May 45% to 45%a46, and later underwent a general sag. Downturns in hog values weakened the provision market. WHEAT— High. December 1.0% 3 1.08% I 1 1.08 ook Close. 2t R4 43 ‘9.96 ' CHICAGO LIVE STOCK MARKET. CHICAGO, December 10 (United States Department of Agriculture).— Hogs—Recelpts, 85,000 head; 15 to 25¢ lower; bulk, good and choice 210 to 325 pound butchers, 6.75a6.90; 160 to 190 pound averages, 6.55a6.70; bulk, packing sows, , 6.4026.50; slaughter pigs, 25c lower: desirable strong welghts, 5.75a6.00. Cattle—Receipts, 34,000 hea. bulk beef steers, 8.00a10.0 bulls fairly active, steady to weak: veal- ars weak to 25 lower: stockers and feeders in comparatively light supply, about steady; bulk, 5.2526.76; bulk vealers early to packers, 9.00 down- ward; few selected kinds to outsiders upward to 10.00. Sheep—Receipts, 28,000 head; active, fat lambs steady to strong; yearlings and sheep around 25 higher; feeding ambs steady; bulk fat lambs, 12.75a 13.25; top to _city butchers, 13.40; hgice fresh clipped lambs, 11.50; fat ight-welght -ewes, 7.50; good feeding lambs about 60 pounds, 12.25, slow; proved a heavy burden for many in stitutions to bear—this is especially true when times of pression occur, when loanable funds leads lower earning capacity ‘It is supposed that banks in their advertisements incorporate in them briefly the obligation that a depositor owes to the bank where he decides to carry an account. That it is up to him to maintain a good character, as & citizen and business man—that he must believe in the sanctity of con- tracts, that it is up to him to maintain a creditable balance—at least such balance, at any rats, that iwll permit the bank to earh enough to break even in doing its part for him—to in- form him that it is under great ex- pense that the banking business is con- ducted—usually with a large inves ment in bullding and vaults, in a de- sirable location; good salaries for the officers, who must be able men, if the bank is to be managed successfully: suitable and sufficient salaries for en ployes: expenses of management, sta- tionery, books, heat, light and other items; the fact that the bank must earn dividends for its stockholders and that it is not safe to attempt to do this by speculation, etc.: try {t—and see the favorable reaction on the part of the public. who will quickly realize that high rates of interest paid for deposits do not necessarily mean safc- ty for their principal.” Before You Invest—Investigate. It's queer how careful a man can be after he's lost his money. Abe Martin says that a man who is not satisfled with 6 per cent and his money are soon parted. BETTER WOOL BUYING. Report From Abroad Tells of Im- proved Conditions. Special Dispateh to The Star. BOSTON. December 10.—Sluggish- ness of the local raw wool mariet was emphasized by contrast toda: with recelpt of reports from abroad telling of heavy buying by foreign manufacturers on an _advancing market. Domestic manufacturers, still purchasing on a hand-to-mouth basis, declare the new heavy-weight season has not vet given them an. occasion to look for exceptional prosperity, and they are awaiting further evidences of the trend befora committing themselves. Recelpts at Boston last week were 2,685,700 pounds, of which 643,300 was foreign wool. | Shipments were 3,231,000 pounds, 465,000 by sea. RAIL EARNINGS GAIN. The final returns on the net earn- ings of class 1 rallroads in October showed a total of $102,700,000, or 4.78 per cent on the Interstate Commerce Commission’s valuation, as compared with $98,200,000, or 4.46 per cent in September. Car loadings continued to hold up well, the total for the week ended November 24 being 990,000, a re ‘larger than In any preceding ovember, industrial a plethora naturally to a de-