Evening Star Newspaper, December 11, 1923, Page 28

8 * INDIVIDUAL MOVES IN'WALL STREET Chandler at New High—To- bacco Shares Sold—Price Trend Indefinite. . 11.—Inter- was agaln moves nore , December market today taken up with individual yme of these were downward, of them upward. r Motors made a new high tn the ahove $9 carned this year and that its pr schedule for the first quar- 1924 will be considerably than in the same period of The strength of Chandler at- cted some speculative buving to Maxwell,, Willys Overland pr ferred and the Plerce Arrows. Gen- cral Motots was heavily bought above 15 Migh Priced Some sharp advanc h priced issues to move cause of their limited rket sup- ply. Among these were Corn Prod- °ts, General Electric and National Tead. The in Corn Products above 141 w taken to mean oither a large extra dividend in pros- pect or a_ @upital spiit-up which would result In a substantial in the regular dividend Announcement that Schulte F vas to combine with United Stores had been expected. No dela liave so far been given out, so that the benefit for tobacco products as the owner of United Cigar Stores is not mate clear Neither is the effect upon Schulte Retail Schulte andn Tobacco heavily sold on the idea had d ed, in their nance, the good resuits of solidation. Northwestern Roads Weak. hares were somewhat af duction tri Issues. occurred in be- of stock Prod; recent the con- and Ch spite the fact that eition has improved sesure the dividends The trouble with stocks is that they repre tion of the country whe busine been held depr in wheat ine better in net. b cut_down maintenanc But their gross traffic h 0 doing nor is there any prospect o its picking up until next and only then If wheat has got back to u profitable basis Frooklyn Manhattan nings po- sufficiently to this _group o ent a sec- on ransit stocks anying unusual es in the 6 per The earnings of the com- been making an exocellent showing r the last year and half. and a very substantial surplus is disclosed for the new preferred s Copper Production for 1924. any improvement has oc- in the shares of the copp nies in response to whatev betterment there has been in the cop- per metal situation, but it is interest- ing to note the calculations of the trade regarding the 1924 outlook. In it is estimated that world pro- duction has been approximately 871,600,000 pounds of copper, as against 2,181,000,000 in 1913. It is pre- dicted that in the first half of 1924 copper consumption will be the high- est in history. It is difficult to sumption, because fabricators whose securit! are not traded in an the stock exchange are not compelled to give out figures to the public. Cuba Cane preferred was the lead- er of tho sugar stocks, partly be- cause of its ctrong financial struc- ture and dividend prospects and partly because of the firm sugar s uation. Net income ‘ for the last fiscal year was nearly $13 a share on the preferred stock, and the com pany reported a remarkable come- back in its aesets position. Jus now the Cuban sugar situation 1. tight. That is, there are hardly any offerings of old crop sugar and the new season has been delayed in get- ting under way. 4, the street believ high as, if not higher average. Late Selling in Rails. The strect pretended to be surprised at the reduction in the Chicago and Northw. n dividend from a $5 to a 33 annual basis. fact the poor earnings of the road have foreshadowed it for some time. Heavy selling broke out in the shares of other northwestern roads folowing the announcement and there was some hasty throwing over of other rails. But, of course, the condition in the northwest does not reflect upon the rallway situation as a whole. It is entirely reflex of the troubles of the northwestern wheat farmer, and the business depression in cent bonds determine con- will be as than the 1923 consequent that section. Evidently the cotton trade realized that it had overdone things in the four-cent decline of the past week, even assuming that the government report will confirm the higher crop estimates. Prices regained most of the ground lost yesterday CLOSING IS IRREGULAR. Northwestern Loses Nine Points. Sales, 1,050,000. By the Assoctated Press. NEW YORK, December 11.—Heavy liquidation of the Northwestern rail- road shares influenced by the passing of the Omaha dividend and the cut in the Chicago and Northwestern rates was the feature of today's irregular and active stock market. Pool opera- tions were continued, however, in a number of industrials-and specialties, General Electric and Chandler being conspicuously strong. Sales approxi- mated 1.050,000 shares. The closing was iregular, support was forthcoming for of the industrial shar the late dealings, but the rail der pressure. Chicago & Northwestern extended its loss (o 9% points and Omaha to 10%. Good some in DIVIDENDS. Am. G. & EL P B.. B., Collen Rub. R ars & fd. Tapk Car 's. o2k Humble 0il & Ref Hydrox Corp. . Ind. Motorescle Tloneer Milis . Ttoy Bak Powder. . Ttoy Bak Pow pfd. Ror Bak Powder sullivan Mach ..... Tpson Co. . Tpson Co. . Upson Co, pfd. ... ‘Winuipeg El Ry. pf. BILL STARTS SELLING. Some of the selling vesterday at he close, when the cotton market was weakest. was attributed to Wash- ‘ngton advices stating that a bill had been introduced in Congress to forbid trading in cotton and grain rutures, while other. selling came from the south in the way of hedging operations, - 5 on reports that it will show | The price level into} But as a matter of | continued un- | FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, TUESDAY, DEC l- NEW YORK STOCK EXCHANGE Alr Reduction.. Ajax Rubber. Alaska Juneau.. AT Am Cable. Allled Chem . Allied Chem pf. Allis Chalmers. . i Am Agr Chem Am Ag Chm pf.. Am Bank Note.. Am Beet Sugar. Am Bosch. Am Brake Shoe. Am Can Am Can pt Am Car & Fay.. Am Chain (A).. Am Cot O ctf . Am CotOpf etfs Am Expres Am H & Lea pf.. Amtce..... . Am Interna! Am La France. . \m Linseed. .... m Linseed pf. . Am Locomotive. | Am Metals. | Am Radiator. Am Safe Razor. Am Ship & Com. Am Smelting. Am Smelt pf Am Snuft. . Am Steel Fdy. Am Sugar.. Am Sugar pf Am Sumatra. . Am Tel & Teleg. Am Tobac (B).. Am Woolen Am Writ Prpf.. Am Zine & Lead Anaconda. .. Armour of Del pt Arnold Constab. | Asso D Goods. .. Assoclated Oil. . tehison. .. Atchison pf. ... Atlan Bir & Atl. | Atlan Cst Line.. Atl Fruit stfs. Atlantic Gulf. At Gulf pt | Austin Nicnols. | Auto Knitter. .. | Baldwin Locoe. . :| Balto & Ohlo. | Balto & Ohio pt. Barnescéall (A). rnesdall (B). arnet Leath. | Beth Steel...... | Beth St1 7%(n). | Brit Emp Steel.. { BrEmStl 1st pf. Bklyn Edison. . n-Man Tr. -Man T pf. Brown Shoe. ... Brunswk Term. Burns Bros (A) urns Bros (B). Eutte Copper. .. Butte & Super.. Bugterick. . | caado o11. ! Calif Petrol | Calif Petrol pf.. i Caliahan Zinc { Canadlan Pac... Case Plow WKs. | Central Leatn. . “ent Leath pt. Cerro de Pasco. Chandler Mot. .. { Cnesap & Ohio. . Ches & Ohio pt Chi & Alton. Chi & Alton pf.. Chi & East Il Chi Grt West. .. {ChiMil&StP.. Chi Mil &St P pt i Chi & Northwn. Chi & Nwn pt Chi R I& Pac.. {ChRI1&P6%pt |Chi R 1&P Te%pf. /ChiStPM&O.. {CStPM&OpL. | Chite Copper. | Chino Copper. ... | Cluett Peabody. | Coca-Cola z | Colo & South. { Columbia Gas. Com Solv (4) Com Solv (B) Comp Tabulat.. Congoleum Co. ... Conley Tin Foil. | Cons Gas of NY . Cons Textile Cont Can. ¥ Continental Mot | Corn Products. . Corn Prod pf. { Cosden & Co Crucible Steel Cuban-Am Sug. | Cuba Cane Sug | Cuba Cane S pf. | Cuban Dom'can. { Cuban Dom pf.. Cuyamel Fruit.. Davison Chem. . De Beers....... Del & Hudson. .. Detroit Edison. . Dome Mines. ... Douglas Corpn.. Dupont (ED)... Eastman Kodak EatonAxle &Sp Elk Horn Coal.. Emerson Brant. Endicott-John.. Erie Erie »t Erie 2d pt. Fairbanks Co. .. Famous Players Famous Play pf. Fifth Ave Bus Fisher Body ... Fisher Bof O pt. Fisk Rubber. ... Flelshman. ..... Foundation Co.. Gen Asphalt. ... Gen Asphalt pf. Gen Baking. Gen Electric Gen Elec spl Gen Motor! Gen Mot 6% deb. Gimbei Bros Glidden. ... Goldwin Corp Goodgich pf.. Goodyear pt Granby Consol. Gray & Davis. Gt Northern pt. Great Nor Ore Gt West Su pf Greene-Canan. . Guantana Sug. . Gulf Mo & Nor Gulf St Steel.... Gulf Stistpt... Homestake . Househ'd Prod.. Houston Ofl.... Hudson Motors. Hupp Motor: Hydraulie Stl. .. Illinols Central. 111 Cent pf fpd. Indiahoma Ind 01l & Gt | Indian Refl | sIngersoli-Rand. Inland Steel Inspiration. Interb Rap Tr. In Ag Chemical. In Ag Chem p' Int Cement. ¥ Combust int M Marine pf. Int Nickel. Int Nickel pf. Intl Paper. per Int Tel & Telég. Invineible Of Iron Products. 'open. 674 7 1% 96 68% 110% 444 11 36 99% 395 36% 76 103% . 110 168 28 95 29 G0 Al 88 23 High 6T ¢ 1 96 68% 110% 46% 1% 36 9% 404 87% 76 105% 110 1658% 23 9V 291y 90 41% 883 24 1% 16 32 7319 43% 94ty 7 10% 58 95% 1424 38 56% 961y 20% 126 148 747 214 Low. 6TV 7 1 26 674 110% 444 11% 35% 991 59% 36% 76 103% Close. 67% ! Jones Tea...... 7 | Mallinson & Co. | Market St R 2 | Marland oi1. { Natl DeptStores { Nat! Enamel. | Philip Morr! { Phillips Pete. .. 4 “ | Prerce Ar pf. 281 | Pierce Ar prior. 314 | Plerce OL1 12% | 22 | T s9v | B 101% | o ostum Cereal 26% Y 19% 854 31y 34% 3% 59 63u 65% 187% 81 63% 181 90 184 8% 95 66 30 30 . 41 444 2615 30 6815 35% 333 44y 47% 13% 85 93 1314 121 21% 54 1% 4Ty Kaunsas & Gulf. . Kansas City 8 Kayser (Julius) Kelly Spr Tir Kennecott. Kéystone Tire. Kinney G R Lehigh Valley. ma Locomo. .., Loews Inc Loft Inc Loose-Wile: Lorillard (P; Louls & Nash MclIntyre Por Mack Trucks. Mack Trucks 1st Macy Co.. Magma Copper. Manhat El Sup Manhat Sbirt Maracatbo Ol1. . Market St prior, Martin-Parry. . Mathison Alkill. Maxwell (A). Maxwell (B). May Dp Sto Met Edison pf. . Mex Seaboard. .. Mex Seabd ctfs. Miami Copper. ., Middle St Oi1 Minn & St L. Minn StP & SS) Mo Kan & Tex. Mo K & Tex pt. Mo Pacific Mo Pacific pf. Montana Power. Montg'y Ward Moou Motor: Mother Lods Munsingwear. 38% Or Tex & Mex. Y Alr Brake. . Y Alr Brk (A). Y Central. ... Y Chi & StL.. NY Chi & StLpf. 86 YNH&Hartfd. 14% ort & Western. 104 North Amer. 228, North Am pf.. 2% North Pacific i Oklahoma Prod. 13 Ontario Siiver. 7 Orpheum Circuit. 187% Otis Elevator... 143 Otis Steel. -8y Otis Steel pf. 57 Owens Bottle... 44l Pac fic Develop. b Pac Gas & Elec. 84% Pacific O1l 434 Packard Motor. 125 Pan-Am Pete... 61% Pan-Am P (B) 581y Parrish & Bing. 13 Penna Coal &C.. 29 Pernsylvania. 425 Fenn Seabd Stl.. 3% People's Gas.... 964 Peoria & East.. 10% Pere Marquette. 42's Pere Mrq prpf.. 71 Philadelphia Co.. 43% Phila Co pt 41% 23% 33 9% 26% 66 214 Pierce-Arrow... Pierce Oil pf . tts Steei pf. ts Utilities pf. Pitts & W Va Produc & Ref. 1. | Pro & Ref ctfs 47 | Pub Service. 75 | Pullman Co 27% | Punta Alegr 167 | BureOll. .. 70 Pure Oi1 S% uf. . 75% | Ry Stl Spr pt 19% Ray Con Copper 33% | Reading 41 35 Reading 1st pt Reading 2d pf.. 574 | Remington. . 181 Repiogle Steel 10% ! Rep Ir & Steel. 57% | Reynolds Spr. 6 Rey Tobac (B) 49% | Royal Dutch 7 St L&San Fran. 139% | 519 & San Fr pf. 121% | St L Southwn. 3% | St L South pf. 65% | 3 31 ! 14% 544 T 47 65% T6% 20 1084 105 19% 124 | 132% 108 25 13 “ 64% 207% 29 25 3% 87 9% 176 % 45 34 67 95 1 avage Arms. hulte Storel aboard Air L. Seabd A L pf. ars Roebuck: -naca Copper Shell Union Simmons. . Simms Petrol. Sinclair Oil Skelly Ofl. . Sloss-Sheffield South Pacific Southern R¥y Spicer Mfg Co... Spicer Mfg pf. Stand Milling. St Oil of Calif. Stand Oilof NJ StOilof NJpf. Sterling Prod... Stew'd-Warner. Strombg Carb. . Studebaker. . Submarine Bt. Superlor Ofl. Superior Steel. | Sweets Coof A Tenn Copper. ‘Texas Company . { *Tex Pac Ld Tr. ‘Tex Gult Suiph. Texas & Pacific. Tex & P C & Otl. Third Avenue Tide Water Oil. . Timken Bearing Tobacco Prod. Tobacco Prod Trans Cont Ol Transue & Will. Underwood Unfon Pacific. Un Tank Car Un Alloy Steel. United Fruit. United Ry Inv. Utd Ry Inv pf. {USCastIPipe.. U S Castlr P pf. U S Exprel U S Food Prod. U S Hoffggan M.. U S Indus Alco. U S Rubber. . U S Smeit&Ref. U S Steel. | US Steel pf. Utah Copper. Utah Securities. { Vanadium Corp. Va-Car Chem. Va-C Chem pf. Vivadou... Wabash........ Wabash pf (A). West Penn pf. Western Md. ‘West Pac pf. Western Union. West Air Brke Westhse E1&M. . Wheeling&L E. Wheel & LE pt.. White Eag Oil. White Motor. White Oil Wickwire, Wiltys-Overl pt Wisconsin Cent. ‘Woolworth..... 284 Received by Private Wire Direct to The Star Office Open. High. 25% % 19% L 35% 81% 4% 314 60% 631 66 187%% 8% 66 1824 90% 184 894 % 66 30 30 a2 prig 26% 30 59 9% 10 113% 38% 74% 924 3 34 38% 129% 92 31 185 11 38% 55% 824 3% 84 193 62% 374 21% 95% 119% 64 17% 80% 8% 29% 13% 11% 5% 16% 89% 9% 17% 16% 59 110% 85 61% 8 15% 244 57% 5% 2% 21% 9% 6% 4% 284 Low. Close. 24% 84 81% 34 3% 59 6214 65% 18% 8% 3% 179% 90 1843 87% 95 66 29% 2914 41 44 26 50 6815 34% 33% 44 474 13% 85 924 12% 12 213 [ 1% 4Ty 1215 81 10% 28ty 61% 8% 40% 290 58% 19% 9 94 11214 384 72 91% 2% 33% 83 126% 92 31 180 11 37% 56 8214 3% 3% 19 61% 37% 21 94% 119 63% 16% 30% 8ty 29% 18% 11% 34% 16% 89% 9% 1% 15% 59 108 85 61 % 14% 23% 56% % 2% 21 9% 3% 24% 1 19% 34 1% 34 3% 60% 62% 85% 18% 8i4 844 180 90 18 95 66 30 29% 33% 34% 283% 283% 88% | s | B: BOND QUOTATIONS CHANGE BUT LITTLE Transit 6s Are Feature of Trading—Foreign Group Moves Uncertainly. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 11.—The feature 'in today's bond market was the advance in Brooklyn Manhattan Transit 6s under heavy transactions. Closing Monday night at 67%. the price was bid up before noon to 70 for a gain of 2 points, with some subsequent reaction. Today's quotation compares with the low for the year of 65' and a high of 74%. The basis for the specu- lative interest was not only the earn- ings, but an improved political out- look. The earnings make a very favor- able showing. For the quarter ending eptember 30 last there was a sur- plus after charges of $814,696 out of income before intcrest of $2.780,643. Returning a yleld of almost 9 per cent, some recovery was overdue. Several Issues Heavy. No particular interest was display- ed in other traction securities, nor was there any great activity in_the speculative rails. Seaboard Alr Line adjustments fluctuated around 45, at which price they seemed to have dis- counted for the present the expected resumption of interest payments on February 1 next. Erle bonds were niso taking a rest after their recent remarkable advance. All the St. Paul funior bonds were heavy, but losses were only fractional. In bonds of a better grade, Chicago. Indianapolis and Louisville 65 of 1966 went higher. Baltimore and Ohio 4s were also in demand among investment issues. As a rule, however, the high-grade bonds were aull . Liberties had only important fluctuations. The expected stimulus to the liberty bond market from the attitude of the President in oppostiion to 4 soldiers’ bonus has yet to develop. The same is true of the outlook for lower taxes. Once either of these matters is definitely settled the market will doubtless resrond. Forelgn Group Uneven. Forelgn issues moved uncertainly, but “somewhat better tone was evi- dent among Brazilian obligations. The largest trading was {n the 7 per cent Central Railway of Brazil elec- trification loan. These bonds were originally of- fered in Junme, 1922, at 93l Their present price eighteen points down and only a little above the low of the vear would seem to have dis- counted a good deai of unfavorable conditions. French bonds were most- Iy steady but the Central European issues were heavy. Trading was light New fssues of the day included $1,969,000 in Chicago Terre Haute and South' Eastern first and refunding 5s offered at 8013, to yield about 6% per cent SHARP RECOVERY minor and un- ‘Yesterday’s Break Followed by Much Steadier Mar- ket Today. the Associated Press NEW YORK. December 11.—A sharp rally from early weakness in Liverpool created a better feeling in the cotton trade here at the opening | of today's market. First prices were i firm at advances of 20 to 45 points. There was some further scattering tiquidation brought in by the break of yesterday which caused some ir- regularity. In the whole, however, the selling was much less active and the market soon turned firm on cov- ering rebuying and trade buying. January advanced to 33.05 March to 33.44 during the ear] aking net advances of Doiuts. Private cables said the carly break in Liverpool had been duc to continued bull liquidation and that trade in Manchester was almost at a standstill, but later advices re- ported that strong interests were buying there and there was a re- covery of about 85 points from the jlowest in the Liverpool market. New Orleans Market Higher. NEW ORLEANS, December 11.—In the face of a poor showing by Liver- pool, the cotton market today wal strongly higher on the opening and | by the end of the first half-hour of business was 58 to 65 points over the last sales of yesterday with Jan- uary trading up to 33.02. Covering by recent short sellers and new buy- ing for long account on the belief that the reaction had about Spent itself lifted the market and gave it the most buoyant tone in days. Noon Bids on Cotton. NEW YORK, December 11.—Cotton futures, 11:45 bids steady. Decem- ber, 3 January, 33.12; March, 33.55; May, 83.72; July. 32.9%. NEW ORLEANS, December 11.— Cotton futures, noon bids steady. December, 33.04; January, 33.0 March, 33.38 y, 33.86; July, 32.81! BIG COTTON MILL MERGER RATIFIED BOSTON, December 11.—The stock- holders of the International Cotton Mills today ratified the plan recently announced for merger of its mills at Lowell, Lisbon, Me.; Yarmouth, Nova Scotla, and Hamilton, Ontario, with mills acquired by Lockwood, Green & Co. of this city in Pelzer, S, C.; Tu- capau, S. C.; Hogansville, Ga.,and La- grange, Ga. The combination will be cu.llled the New England Southern Mills. > . I. C. C. PERMITS ASKED. The Kahulul Railroad Company, operating in Hawail, asked the Inter. !gtate Commerce Commission today for permission to pay a stock divi- dend. The railroad was reorganized in 1907, with a capital stock of $300, 000. Today it filed statement d iclaring its assets were now worth $1,578,000 in excess of its capitaliza- tion, and asked permission to pay $600,000 to stockholders in the form of a 200 per cent stock dividend. The Santa Fe rallroad sought from the commission authority to take over and operate the line running between Willlams, Arlz, and the Grand Can- yon. The line, which s sixty-four miles long. is owned by the Grand Canyon Railway Company, which is controlled through stock ownershi by the Santa Fe. Hereafter it wii be operated as a part of the Santa Fe system. trading, to 50 ‘Worthington... ‘Wright Aero. 13% 13% 13 *0dd lot. . 11 a&.m.....329 700 1p.m. 12m. 315 800 2 p.m. NGOTTONPRLES ard | EMBER 11, 1923. I ON NEW YORK BONDS@ Received by Private Wire Direct to The Star Office. (Sales are in $1.000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 95-3 means 98 3-32.) Sales. High. Low, 99-30 99-29 98-7 98~7 98-13 98-11 98-11 98-7 99-8 99-6 Lib 4th 4%s.. 411 98-13 98-10 US4%s1952. 251 99-18 99-16 FOREIGN. Sales. High. 6 102% 9 87% 19 97% 2 97 8 98% 18 108% 24 8T% 8 76 Close.. 99-30 98-7 98-11, 98-10 99-7 | 98-12 | 99-16 Close. 102 874 97% | 97 9814 108% ! 86% | 75% | 78% | 95 961 100% 99% | 99% 104 103 105% 94% | 1061 | 8705 | Low. 102 8% 9% 97 98L¢ 108% 86Y% 5% 78% 95 964 100% 99% 99% 104 102% 105 948 106% 874 89% i 93% | 1077 Argentine 7; Belgium 8 Bern 8s. . Bolivia 8s Bordeaux 6 Brazil s 52 78% Brazil 8s .22 954 Brazil Tls.. . 10 96% Canada 538 1629.. 13 101 Canada 68 193i.... 1 99% Canada s 195! .20 994% Chile 85 1946. 7 104% Chile 5 1926. 11 103 Chile 8s1941...... 13 105% Chile 75 1943...... 10 95 Christiania 8 3 106% Copenhagen 5% 2 87l Cuba blsctfs..... 49 90% Czechoslovakia 8s. 42 94 . 18 108 .12 94 4 904 .22 96% .38 95 7 88 .20 96% .42 92% 12 Denmark 8s. Denmark 6s. ... Dutch EI5%s Duteh East I 65 Dutch East I 6 Framerican 7%s. . French Govt §s French Govt 7 Haitl 6s. 90% Holland-Amer 6s.. 24 761 Italy 6%s 1925 4 98% Japanese 1st 4 1 93% Japanese 2d 4%s.. 2 92% Jergen UM 65 '47..122 79% Lyon6s..... .6 T5% Marsellle 65. Mexico 55 Netheriands 6s. Norway 8s. orway 6s 1 Norway 6s 1952 Orient Dev deb 6s. Paris-Ly's-Med 6s. Prague 7%s S 105% 89 89 94 97 98 | 82% H 65% 6 i 82 103% 111% Queensland 7s. ... Rio de Jan 8s 1945, Rio de Jan 5 1947, Rio Gr Do Sul 8s Sao Paulo City 8 Sao Paulo State 8s Seine Dept of 7s. Serbs Croats Slo 8s Solssons 6s s Sweden 6s. ... s Confed 8s Jd Kingm 548 108% Ud Kingm 51537, 22 100% Uruguay Ss....... 2 103% MISCELLANEOUS. jAm AgrChemTes 7 98 Am Chainsf6s'33. 2 Am Cotton Oil .19 Am SmI&R 1s » g |AmSmlt&R 6s.... 29 Am Sugref8s..... 11 AmT&Tcvés.... 1 AmT& Teltrbs.. 30 AmT& Tcltris.. 16 |Am T & Tdeb 5325215 jAm Writ Paper 6s. Anaconda cv db Ts. Anaconda 1st 6s... Armour & Co 4%s Armour of Del 535 Asso Oll s rets. ... 2 Atlantic Refin 5s. . Bell Tel Pa 5 5 iBeth Steel 5%s 53 i Beth Steel pm { Beth Steel £t 55 | Beth Steel s { 6s... Brier B St 1st 5%s. Rklyn Edison 7s D. | Busn T Bldg 35 ‘60 Calif Pete 6138 w i. | Central Leather 5s 1Cerro de Pasco 8s. Chile Ccpper 6s. {CinG&ES5i:s {Commonwth P 6s.. | Con Coal Md 1st 55 {Cuban-Am Sug 8s Cuba Cane cvd Ss. Cuba Cane cv Dery (DG) 7s..... | Det Edison ref 6s. | Donner Steel 7a... Du Pont de N © ® oRBoonlBavarma 98 79 92 102% | 100 I‘ 17! 978 | 924 | 98% | > 101 7% 100t2 117% 97 92 983 | 96% { B4% | £8 95 | Duquesne Light és | Est Cuba Sug 74s. | Empire G&F 7135, | Fisk Rubber 8s. .. {Gen Elec deb 5s. ... Gen Refractres 6s. | Goodrich 635. ... Goodyear §5 1931 .. Goodyear §s 1941.. Hershey 65 1942. .. Humble O&R 54s. [llinois Bell 1st 5s. Indiana Steel 3s... Int Mer Marine 6s. Int Paper 1st 5s B. KCP&Lt5s AS2. Kelly-Spring Ss. .. Lackawa S 55 °50. . Liggett & Myrs 55. Lorillard (P) 5s. ... Manatl Sug sf 7328 Marland Of! T%s. . Marland O Midvale Steel 58 Montana Power 58 Morris&Co 1st 438 New Eng Tel §s.... N Y Edsn 1st 63%s. YG EL H&P 55 NY Tel 65 ‘41 NY Tel6s'49..... NY Tel 4%s...... Nor States Pow 5s. Nor States Pow 6s. Northwst B Te 7s. Otis Steel 7%, Otis Steel 8s. . B e SovenSeomaSosamannroalaliobabiacane - Pacific Gas & El 53 Pacific T& T 55 '52 Pan-Am Pete 7s... Pan-Am Pete 6133. PhilaCoret6s A.. Phila Co 5%s '38 Plerce-Arrow Ss. Plerce Ofl deb $s. Public Service 5s.. Punta Alegre 7s Saks & CosfTs. Sharon St1 H 8s... Sinclair Ol 7s. Sinclalr Ofl §%s !8in Crude Of1 68 Sin Crude Ofl 54s. Sin Pipe Line 5s. .. So Por Rico Sug 7s. Steel & Tube 7: Sug Est Orient 7s. Tenn Elec Pow 6s. Tide Wat Ofl §%s. Unit Drugey 8s... USRublstrfss.. U S Rubber 73%s. U S Steel s £ 58. Utah Pow & Lt 6s. Va-Car Chem 7s. Va-Car Ch 7%8 w. Warner-Sugar 7: ‘West Unlon 6% Westinghouse 7 | Wickwire Spen 7s. Wilson & Co 1st 63. Wilson&Ccv 7%s. Wilson & Co cv 6s. - s walnmenoSado 9414 FEE AR TRt FOREIGN EXCHANGE. By the Associated Press. NEW YORK, December 11.—For- elgn exchanges firm. Quotations (in United States dollars): Great Britain, demand, 4.39 $-18; cables, 4.89 7-16; 60-day bills on banks, 4.35 15-16; France, demand, .0540; cables,.0540%; Italy, demand, .0437; cables, .0437%; Belgium, demand, '.04623%; cables, .0463; Germany, demand, .000000000- 00025; cables, .00000000000025; Hol- land, ‘demand, .3824; cabl .3829; Norway, demand, .1501; Swedgn, de- mand, .3632; Denmark, demand, .1782; Switzerland. demand, .1746: 'Spain, demand, .1309; Greece, demand, .0178; Poland, demand. _.00000030: Czech. osloakia, demand, .0292%; Jugo- slavia, demand, .0114; Austria, de- mand, .000014; Rumania, dem .0061%; "Argentina, .318 { Atchtson gen 4s {Centof Ga 6s |Tol S RAILROADS. Sales. High. Ann Arbor 4s 1 . 86 2 b 31 13 17 9 Low. Close. 56 58 87 ATH 80% 80% 87 87 82 82 96% 96% 81% 100% Atchison adj 4s. .. Atlantic C L 1st 4s. Atlantic C L el 4 B&Oyprin3%s... B&Ogold ds.... B&O6s.......... B&Ocv4ekgs...... 10 B& Oref bs. 12 B&O PLE&WV és. 17 B & OSW div3ks. 12 Bklyn-Manhat 6s. 968 Bklyn RT 452002, 1 Bklyn RT7s'21... 12 Buff REPitt4%s.. 5 Canadian North 7s. 1 Canad North 6%s.. 18 Canad Pac deb 4s.. 67 CarClinch &0 6s.. 1 Car Clinch & O 6s.. 14 3 7 30 6 82 83% 8% 96 9% 64% 92 87% 112% 111 8% 92 95% 5 101 Central Pacific 4s Ches & Ohlo cv bs. Ches & O cv 4%s. Ches & Ogn 4% Chi & Alton 3% Chi & Alt 335 ctf; Chi B&Q 1st rt bs hi & E 111 gn 6 Chi Great West 4s. Chi GsWest 4s (n | € M & Puget 5d 45. 48 53% 67 5314 70% 78 108% 106 3% 8% 3% 72% 10114 92% 102% 95% 81 E34 Chi M &St P rf 4% Chi M&St P cv b hi M&St P 45 °25 { M&S Pev 4% hi M&St P 4s ‘34 CM&StPgniy% Chi&NWe% &n ds. crt 4 C&StLrf 6s A C&StL4%s Cleve Term b%s. Cleve Term s. .. Colo & Sou 4% Cuba RR5s. Del & Hd 1st rf 4s. Del & Hudson 5%s 6914 444 8415 624 104 541 B4% 55 58% 103% 1063 958 T 8244 81 581 Det United 4125 Srie 1st con 4s. Erie con ext 7s. Erie gen 4s Srie conv s A. Erle conv 4s B Erie conv 4s D. Gr Trunk sf db 6 Gr North gen 7s Gr North gen 515 Green B & W db B. Havana ERL&P 55 Hud & Man ref s Hud & Man aj § 111 Cent ref 58 111 Central 5% Int Rap Tran 5s Int Rep Tr s stpd. Int Rap Tran 6s 100t 61 61% 58 86 424 90% 16'% 69 86 941 92% 89% 105% fowa Cent rf 4s. Kan City Ft 8 4s. Kansas City S 3s.. Kanses City S 5s. . Lake Shore 4s 28 Lake Shore 4s '31 Lehigh Vacn 4s Louis & N uni 4s. . Louis & Nash 5%s. Louis & N s 2003 Market St cn 5s... MilEIRy & L 5s.. M&StLrfexss.. M& St 944 53 Mo Pacific 6s Mo Pacific 5s Mo Pacific gn 4 ew Or Term 4s O Tex & M in 58. Y Cent gen 313s. Y Cendebés. ... Y Centriss..... 7 Y Cen LS cl 3%s. ew Havencd6s. 14 New Havend 45’37 1 ew Haven7s..... 1 w Haven 7s fr. . 151 ew York Ry rf4s. 1 Y Ryrf4sctfs.. 28 Y Rysadjbsct.. 1 YW & Bos 4ss. 2 orfolk & W cn 4s. 20 orthern Pac 3s... 19 rthern Pac 4s... 29 orthn Pacr i 6s..102 Northern Pac 5s D. 82 Ore Short Lref 4s. 2 Ore-Wash 1st rf 4s 27 Pentisyl gen 5s.... Penneyl gen 4%s Pennsyl 63s. Pennsyl gold 7s... Pénnsyl con 4345 Fere Marq 1st 5s.. T4% 51% 76% &6 Ty 5 314% 38 £8Y 584 811 102 91 92y 79% Reading gen 4 RIArk &L 4% St L IM&S R&G 4 StLIM&S4s'29. StLS W 1stds. StL S W con 4s'32. 13 StPUnDepbiss.. 45 StP & KCShL 413s. 1 San A & ArnPis.. 3 eab'd A L 4s sta. 1 Seab'd A Liref 4 2| Seab'd A Liadj 6s. Seab'd A L con 6s. Sou Pacific 4s 192 Sou Pacfic ref 4s. Sou Paclfic clt 4s. Southern Ry 1st 55 Southern Ry gn 4s. Southern Ry 6%s.. Southern Ry 6s ct. Sou Ry Mobile 4s Third Ave ref 4s. Third Ave adj 3s.. L& W 3%s. Tol StL & W 4s Union Pac Ist 4s... Unlon Pac 1st rf 4s Union Paccv 48 38 o weS (=T e j Union Pac cv 6s Union Pac 1st rf Virginia Ry 1st 58. Va Ry & P 1st 55... Western Md 4s. Western Pacific 53. 80% Wheel & L E cn 4s. 617 TOTAL SALES (Mar Value): 1lam.. 2515000 12noon 4079000 1pm.. 5420000 2p.m.. 7925000 —_— BUSINESS TOPICS. Special Dispatch to The Star. ST. LOUIS, December 11.—Dwell- ings and apartment houses author- ized in the last month will house 987 families, and will cost approximately $2,938,500. Savings deposits in thirty- nine state banks and trust companies in thiy city increased $7,974,919 in the last five months, according to State Finance Commissioner Millspaugh. Their total resources in the same period gained $5,790,198. SAN FRANCISCO, December 11.— The decision of the Southern Pacific railroad to continue work during the winter on the Natron cut-off is ex- pected to relieve the surplus of un- skilled labor in northern California. Approximately 2,000 men will be kept employed. PITTSBURGH, December 11.-—The Pennsylvania Rallroad Company will spend approximately $200,000 for im- rovements at the Emsworth station, ort Wayne division, to include the building of a subway under the rail- road. RATES ON CALL MONEY. NEW YORK, December 11.—Call money firm; high, 5; low, 5: ruling rate, 5; closing bid, 5; offered at 5%: last loan, 5; call loans against ac- ceptances, 4%; time loans, firm; mixed collateral, sixty-ninety days,’ 5a8%: four-siv months, §; prime commarcial paper, 5ab’. 997 94 87% 581 8214 | 837 | 100% | 89 | FINANCIA L. {Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. There is hardly any likelihood that there will be any shortage in the frult and vegetable market during the approaching hollday season or that higher prices will prevail. Deal- ers say nothing short of blizzard weather is likely to affect the market, suppies on hand being almost ample to meet demands. | California and Florida orange: {grapefruit, tangerines and satsumas |are quoted as being plentiful and cheap. Grapes, pears and other | fruits also are plentiful. Bananas are not so plentiful, although re- ceipts are sufficiently large to meet demands at prevailing prices. In the vegetable market there are large supplies for the holiday trade. I There is @ plentiful supply of ordi- | nary vegetables. Lettuce is being received in exceptionaily large quan- tities and prices are quoted as being cheap. Ample supplies of celery and cranberries for the holiday season are on hand. Eggs—Strictly fresh. selected, can- dled, per dozen, 06; average receipts, 52a53; storage, 33a35. - Live poultry—Roosters, per 1b., 16; turkeys, per ib., 32a33; spring chick- ens, per Ib. 26a27: keais, young, each, §0a70; fowls, per 1b., 24a25. Dressed poultry—Fresh-killed spring chickens, per 1b., 30a32; roasters, per Ib. 28a30; hens, per b, 27a28; | turkeys, per 1b., 35a38; keats, young each, 80a85; roosters, per 1b., 20. Game—Rabbits, No. 1, per dozen, 3.00a3.60; No. 2, 1.25a1.50. Live stock—Calves, choice, per 1b., 1233; medium, per 1b., 11; thin, per Ib.. $a10, Lambs, spring, per 1b., {3. Live pigs, 3.0025.00 each: live hogs, per 1b., 7. Green fruits—Apples, per basket, 50a2.00; per barrel, 2.00a6.00. Cali- | fornia ‘oranges, per crate, 6.00a7.00; ,Florida, 3.0024.00. Lemons, per box, 3.50a4.50. Grapefruit, 3.0023.50. Cran- berries, 5.00a6.00 per one-half barrel. | Grapes. California Emperos, 1.75a2 00 |~ Vegetables—Potatoes, No. 1, 2.25a 12.50; No. 2, 1.00al Potatoes, round, Iper ' bag,” 2.00a2.50; sweet potatoes, 15.5026.00- per bbl. 'Southern lettuce, {per crate, 1.00a2.00; nearby, 50a1.00 {Iceberg. 4.00a4.50. Cabbage, northern, | 1.5022.00 per 100 1bs.: nearby, 1.00a 150 bbl. Tomatoes, _half-bushe basket, nearby, 1.00a2.50. Beans, | i southern, per basket, 3.00a3.30. Peas, | per basket, 3.0024.00. New York cel- | |ery, per crate, washed, 5.50a5.00; in {rough, New York, 2350a4.00; Cali- fornia, 5050a6.00. Squash, 2.50a3.00. Peppers, per crate, Florida, 2.50a3.50. jEggplant, 4.00a5.00. Kale, per bbl, | 15a1.50. 'Spinach, per bbl. 2.00a2.50. | Southern cucumbers, per bushel. 4.50a 16.00. Carrots, 100-1b. sack, 2.25a2.50. | Brussels sprouts, 10a20. GRAIN AND PROVISIONS. BALTIMORE, Md., December 11 (Special).—Potatoes, 100 pounds, 75a 176; 150 pounds, 1.00a2.50; sweets ams, barrel, 150a4.50; bushel, ; beans, bushel, 1.50a2.50; per 100, 2.0025.00: brocoli, 25230; brussels sprouts, quart, cabbage, per 100, 4.00a6.00; 2 bushel. 30a40; caulifiower, crate, 1.00a3.00; carrots, per 100, 3.00a celery, crate, a4.50; cucum- 4.00a4.50; eggplant 3.50a4.0 .00; lettuce, bushel, kale, bushel a30; onions, 100 { pounds, 2.00a3.00; ter plants, per 1100, 5.00a7.00; parsn. basket, 40a {35;" peas, hamper, 3.00a5.00: peppers. | crate, 2.50a3.50; pumpkins, per 10 {10.00a15.00; spinach. bushel. 50a70: { bushel, 00. 30a35; tomatoes, | packed, barrel. 2.00a4.50;| 50a1.25. box apples, 50; | 100 pounds, : barrel, 7.00a9.00; grapefruit, 752.75: oranges, bcx. 2.00a pineapples, crate, 3.00a4.50. Setling Prices on Grain. Wheat—No. 2 red winter, 11.09%; No. 3 red winter, spot, {No. 2 'red winter, garlicky, mestic, 1.08%; export, 1.08; | winter. garlicky, spot, 1.05% B {red winter, garlicky spot, no quota- tions. Sales—Bag lots of nearby at 95; 27 bushels of No. 3 red winter, gar- icky, at 1.043% 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. {84: ‘track corn. yellow, No. 2, new. 120, Sales—None. | _Oats—No. 2 white, new, {No. 3 white, new, 53 as | Rye—Nearby, 75a83; 7632, Hay—Receipts, App! bushel, Joose, spot. 1.06%: spot, do- No. 3 red %; No. 4 53 asked; . 3 rye, spo:.l | There a gradual cleaning up of the accu- 99 tons. is |mulated stocks of hay in the market {and the situation has a better under- | !tone for the better grades of timothy jand No. 1 clover hay, for which there | jis a fair demand. Medium and low rades are draggy Quotations — 50 per ton; No. . 23.50225.00: No. clover mixed, 24.00225.00. i —No. 1 straight rye, 25.00 per tangled rye, 15.00a16.00; | heat, 13.00a14.00; No. 1 oat,| 14.00a15.00. An_increase of 10 cents per barrel on all city milled winter and spring brands of flour was announced this morning. DAIRY PRODUCTS. BALTIMORE, December 11 (Special). —Live poultry—Turkeys, pound, 25a40: | young chickens, 26a27; leghorns, 20a24: old hens, 20a27; leghorns. 20a22; old roosters, 14al5; ducks, 18a24; geese, 20a26; pair. 25a30; guinea fowl, ‘each, . Dressed_poultry— Turkeys, 30a4! chickens. 25a28; old {roosters, 16a17; ducks, 201 geese, 20230. Eggs—Loss off; native and nearby {firsts, dozen, §3a54: southern, 502 Butter—Creamery. good to fancy. pound, ; prints, 55857;_ nearby {creamery, 42a46: ladles, 34ads; rolls, {28a32; store packed, 28: dairy prints, 28a32; process butter, 3%. TODAY’'S CHICAGO PRICES. CHICAGO, December 11.—Influ- enced by a decline at Liverpool and by bearish statistics, wheat today averaged a little lower in price here during the early dealings. Neverthe- less, with Secretary Hoover and other government officials expressing them- selves in favor of some plan to . 1 timothy, I yield 4 ihue will addres: RAILWAY COMMON MARKET FEATURE Over 1,000 Shares Changed Hands in Today’s Trading. Washington Rallway and Electric common stock “flared up" again on the Washington Stock Exchange, as is in the habit of doing from time to time, and when the session came to a close the recapitulation showed 1,138 shares had changed hands, with a resultant rise in price of 21 points This issue was quiet at the start, three sales of twenty-eight shares at 671 and fractionally above creating no undue interest. A sale of 100 shares at 69 then followed, imme- diately preceding one of the large: sales on the local board, 1,000 shar at 70, A ten-share sale at the day's high concluded dealings in the issue The issue closed with but 67 bid and 67% asked Railway preferred was firm at its prevailing level, seventy-seven shares changing hands, and Capital Traction was unchanged at 93 and 97% Con;- mercial National Bank sold at 141, anl Riggs held at 295 Small lots of Railway 4s at 69 and Wardman Park Hotel 6s complete one of the most interesting sessions of the year. Tnion Trust May Vote Extra. Stockholders of the Union 'Trust Company will have an addtiional $40. 000 for their Christmas requirements the contemplated action of their direc tors 18 carried out at this afternoon meeting, when an extra dividend of per cent is scheduled to be declared For the last two vears this institu- tion has disbursed an extra divid of 2 per cent, payable on Decem 24 to stock of record December 13 BEdward J. Stellwagen the bank say ‘We T for this see no reason w should not be made In addition to the extra, the regl lar quarterly dividend of 1% percer will be declared, payable on Janu 15 next. The institution could sald to be definitely on an 8 per c annual basis The meeting will be held at 3 Call Road Worth 700,000,000, Great Northern railroad officia outlined today before the Inters:: Commerce Commission a claim that ual value of that system | 700008000, or almost twice as muc the federal valuation experts have ar been willing to assign for it The commission’s tentative valua- tion of the road. which Ralph Budd. its president, and his assoclates a pearcd.today to protest, was $395 000,000. Final figures which will be made after the conclusion of th hearing of protest will serve the basi for making of all rates. New $2,000,000 Bond Offering. Harr Forbes & Co. and the tional v Company are today off & $2.000,000 of Memphis, Tenn., 4 cent and 5 per cent bonds, serfally July 1, 1924 to 1963, inclusive The per cent series are water bonds nd are offered at a price to per cent for 1928 to 1947 maturities, and 4.70 per cent for ma- turities 1948 to 1963, The 412 per cent bonds are issued for hospital, street and library purposes and are offered at a price to yield 4.70 for maturities 924 to 1953, U. S. Certificates Golng Fast. Indications point to a big over- subscription to the new issue of ce tificates of indebtedness. Dealers sa they are highly pleased with the sub- scriptions already received. It is gen- erally agreed that the rate is satis- factory. In some quarters it is believed the $300,000,000 offering indicates that the Treasury officials are asking fc sufficient funds to meet December di bursements and current expenses to March 15 Debate on Tax Securities. Clarence Schatz and T. J. Groon upholding “That the federal gover ment alone should be allowed to sue tax-exempt securities” won th debate held last night by the de- bating society of Washington Chap- ter, American Institute of Banking. | O. M. Hester and J. Harris argued the negative. These debates are heid Monday night at the chapter's ‘Tonight Francis G. Addison, jr., will talk to the elementary ciass on “E change and Transfers.” while mond B. Dickey will lecture tomo row night on -Personal _Proper On Thursday night Prof. F. J. Dono- the economics ciass on “Corporate Expansion,” and on Friday night the topic for discussion is “Sources of Credit Information.’ Auditor Studying Other Bank: H. G. Marx, auditor of Riggs tional Bank, is away indefinitely, making a tour of inspection of the methods pursued by New York and Philadelphia banks. GOLD MINING REVIVED. Much More Activity Noted Claims in Alaska. PORTLAND, Ore.. December 1l.— Mining is taking on renewed life in Alaska, and new capital is investing in many projects according to G. E. Stevens, United States marshal at Fairbanks, who now is in Portiand On one enterprise hydraulic equip- ment has been installed to work fif claimy of twenty acres each, near Fairbanks, where the gold vyield averages about $7 a cublc yard He reports seventeen claims on Gold stream are to be dredged, providing work fifteen years for two dredges At Chatanega Flats, twenty-five miles from Fairbanks, a pay streak about on finance exports of foodstuffs to Ger- many, sellers were apparently dis- inclined to become aggressive. Houses with Winnipeg connections furnished | most of the offerings. The opening, iwhich varied from unchanged figures to 1, cent lower, with December 1.03% and May 1.09 to 1.09%, was followed by & slight rally and then by something of a downturn all around. Hedging sales in the December de- livery eased the corn market. After opening unchanged to % cent lower. May, 74% to 74%. prices underwent a moderate general setback. WHEAT— Open. High. Low. December 1.0314 1.03% 1.08 May 1.09% July 107 COR December May . 238 R3 BN #FF §¥ 5F 8% ¢ it 42y 48 3% 12.32 1235 B 33 Be CHICAGO LIVE STOCK MARKET. GO. December 11.—(United s hartment of Agriculture).— Hogs. receipts 70,000; 10c lower; good and choice 210 to 325 pound butchers, §.6526.80; top 6.80; desirable 160 to 200 pound averages, 6.50a6.60; pack- ag sows, 6.3586.50; good and’ choice \elghty sibughter _pigs 5.85a6.15; bulk of sales, 6.4026.70. Cattle—Receipts, 16,000 head. Beef steors and fat she stock very slow; Sieven: generally steady with Mon- day's decline, less desirable quality consldered; run largely short-fed Steers carrying considerable weight and lower grades fat cows and heif- ers; yearlings very scarce, {nactive demand; bulk short-fed steers of value to sell at 7.50a9.50; good to choice yearlings, 11.00; most fat cows, 3.7625.00; beef heifers, 5.00a6.00; bulls, steady to weak; veal calves, steady: bulk to packers, 9.00a9.25 for best handy-weight kinds; few, 9.50: out- giders paying upward to 10.00 for ohoice vealers: feeder steers, steady: stockers, slow. 100 feet wide yields an average of $21.60 a yard in gold. This will be the scene of another dredging opera- tion. BAY STATE’S COAL BILL. $50,000,000 Spent for Hard Coal During Current Year. BOSTON. December 11.—The an- thracite bill of Massachusetts for domestic use amounted to $80.000.000 for the current year, and of this $50.- 000,000 was pald to the mine owne in Pennsylvania. $20,000,000 for the transportation of the coal to Massa- chusetts and $20,000,000 for the de- livery of the coal to the consumers’ cellare. This is reported to the legislature, with recommendations from the fuel administrator that provisions be made for & study of the use of bituminous coal. It is also Proposed to give the ction in the method of & new houses to conser PARIS BOURSE FIRM. PARIS, December 11.—Pilces were firm on the bourse today. Three per cent rentes, 55 francs 45 centimes Exchange on London, 82 francs i centimes. Five per cent loan, 70 francs 40 ventimes. The dollar was auoted at 18 franci % centimes Futurist in Form. From the Pittsburgh Chronicle-Telegraph. It was in the year 1825. A New York matron, ming down to breakfast, met her only son ascending the stairs. He was headed for the roof, where his fast airplane awalted him. “Where to, Tommy?” asked matron. “Denvar for lunch, mother.” “Well, you have a perfect day fo: fiying.” “That_is what I thought. So from Denver 1 may hop off to San Francisco for _a little golf.” “Very weil, my son. early for dinner.” the Bat be home