Evening Star Newspaper, January 2, 1924, Page 26

FINANCIAL. o ————— — — —— ————— T e TAX SELLING ENDS IN STOCK MARKET ' New Y.ur Tradmg Marked by Pm&t Taking of Many Re- cent Leaders. PRICE MOVES ~CONFUSED Sudden Buying Movement Crops Out in Coppers. By STUART P. WEST. Spectal Dispatch to The Star. NEW YORK, January 2—In today's stock market more attention was pald to the consequences_ of the passing of the tax selling period than to anything else. Stocks which had hung back during the recovery in the closing months of 1923 were strong, while stocks which had been the lead- ers on this movement were freely sold. That the cessation of selling to establish deductions from the in- come tax was a factor in many in- stances was clear enough. Also it seemed probable that with the open- ing of the new year, a lot of profit taking was being indulged in, which had been delayed until the completion of the old tax season. Buying Move in Coppers. How much of an influence the tax matter was in the sudden prominence accorded the copper stocks was a question. Anacdnda closed the year at a net decline of nearly 14 points. inspiration was down 18 points from its high of last spring and Utah was downe 12 points. Undoubtedly these were losses worth establishing from the viewpoint of wealthy holders, and removal of this pressure must have helped along _today’s buying movement. But, asife from this, the South American coppers—Chile and rro de Pasco—in which there had been no tax losses worth taking, were quite as strong as the North Ameri- cans. = This suggested u more general mo- tive at work, and it was to be found in the streng'th of the statistical posi- tion of the copper metal and the be lief that higher prices are likely be fore long. Among other stocks in which rel from the tax selling was expre: at one time or other were the f tilizer stocks. United Rubber first preferred and Burns Brothers Recent Leaders Thrown Over. Against the: points of strength there was opposed largely increased realizing sa in recent leaders among the oil, equipment and steel groups. As pointed out last week, the best opinion was that the improvement in the oil trade had been well discount- ed, at least for the time being, in the | 0 point advance during the last Their market had tained by talk of highly forecasts for the new of prominence, but the statements which came out, while cheerful enough, fell flat as a market influence. Increasing attention w paid in the market for Baldwin Locomotive and other equipment shares to the fact that the railroads are much bet- ter off for cars and locomotives than they were a year ago, and that ex- penditures on these accounts promisc to be considerably less this year than they were last. The latest r that Baldwin )comotive rating at only 30 per ecent but to some extent this low rate was seasonal = Natiowal Supply Hixher. National Supply of Delaware sold higher today than at any time dur- ing 1923, Its advance was attrib- uted simply to the favorable earn- ings position and financial strength of the company, is virtually an oifl equipm For the DASt seven years average profits have been better than $10 a share on the common. Quick assets approximate $25,000,000, which after deduction for preferred dividends, leaves a balance for the common of just about what that stock was selling for in the market today. Chicago, Rock Island and Pacific Railway common was active and strong, reflecting a better apprecia- tion of the improvement in the earn- ings position of the road and the confidence that net income this year will | exceed the 1923 results. For the 'last twelve months it ex- pected that net income applicable to the common will be between $2 and $3 a share. CLOSE IS IRREGULAR. in the ofl quarter of been sus favorable year by men American Chicle Extends to 14 Points. =« By the Associated Press. EW YORK, January 2-—Mixed price movements took place in today's relatively quiet stock market. by traders, who deferred realizing sales until after the turn of the year was counteracted by the repurchase of stock sold to establish tax losses a_month ago. Copper, Public Utility and Merchandis- ing lssues gave the best demonstrations of group strength. Foreign exchanges were weak, French francs again selling below 5 cents. Sales approximated 850,000 shares. The closing was irregular. Selling of United States and Gulf States Steels and Tobacco Products in the late deal- ings was counteracted by the fresh ac- cumulation of American Chicle pre- ferred, which extended its gain to 14 points, and Jones Brothers Tea moved up three points. PR R Ao FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks toduy. 4.29% K L0502 0 per trillion B % ‘Gain London, pound . Montreal, doliar . Paris, franc . franc Madrid, ‘peseta Vienna, . Budapest, crown . Prague, crown . Warsaw, mark . Christiania,” crown Stockholm,” crown - By the Associated Pres: NEW YORK, January 2—Foreign exchanges easy. Quotations (in United States dollars)—Great Britain, de- mand, 4.28%; cables, 4.28%; sixty- day bills on banks, 4.26%. France, demand, 4.98; cables, 4.983. Italy, demand, .042814; cabies, .0429. Bel- gium, demand, .0441%; cables, ' .0442. Germany, demand, ~_90000000000025 cables, .00000000000025." Holland, de- mand, .3774; cables, .3780. Norway, demand, .1434. Sweden, demand, .2639. Denmark, demand, .1758. Switzerland, demand, .1739. Spafn, demand, .1278. Greece, demand, .0205. Poland, de- mand, .0000008. Czechoslovakia, de- mand, .029. Jugoslavia, demand, .0113. Austria, demand, .000014. Rumania, demand, .0061%. Argentina, demand, a2 Bcrlzll. demand, .995. Montreal, 97 9-16. NEW YORK EGG PRICES. NEW YORK, January 2. — Eggs steady; receipts, 17,721 cases; New Jersey hennery whites, closely se- lected, extras, 53a64; nearby whites, closely selected extras, 53a55; state, nearby and nearby western henne whites, first to extra, 48a53} nearby hennery browns, extras, 51a53; Pa- cific coast whites, extras, 53a54; do., firsts to extra firsts, 48a52; refrig- erator firsts, 271829, VISIBLE GRAIN SUPPLY. NEW YORK, January 2.—The visi- ble ‘supply of American grain shows the following changes in buakels: Wheat, Increased 1,456,000; corn, in- creased 2,657,000; oats, increased 764,- 000; rye, increased 173,000; barley, de- ereased, 12,000, . Selling | H | i { *Bank of Com. . { Cosden pf...... Adams Bxpress. Adv Rumley. { Adv Rumley pt. Air Reduction. Ajax Rubber Allied Chem. Allis Chalmers. . Am Agr Chem. ‘Am Ag Chm pt, Am Beet Sugar. 1Am Bosc Am Can Am Car & F pt. Am Chain (A) Am Chicle Co Am Chicle pf. .. Am Cot O ctfy Am Cot Of1 pt.. Am Druggist Am Express. Am & For pf w | Am H & Leath.. Am Linseed pf Am Locomotiv AmMetals. ... Am'Metal pf.. Am Radiator Am Roll Ml pf. Am Safe Razor. Am Ship & Com. Am Smelting... Am Smelt pf. Am Steel Fdy Am Sugar 55% Am Sumatra.... 2% Am Tel & Teleg. 12: Am Tobacco. ... 149 Am Tobac (B).. 147% Am Tob pf (n).. 101% Am W W 6% pt. 66k Am Woolen. ... 3% Am WritPrpf.. 2 Am Zinc & Lead 8% Anaconda 367 Armour of Del pt. 92% Arnold Constab. 13 Asso D Goods... 81 AssoDG2dpf.. 89 Assoclated Oll.. 29% Atchison....... $T% Atchison p 861 Atlan Cst Lind 113% Atlantic Fruit.. Atl Fruit stfs Avantic Gulf. At] Gulf pf. Atlantic Ref. Atlas Tack Austin Nicho! Austin Nich pf. Auto Knitter... Baldwin Loco. . Balto & Ohfo. .. Balto & Ohio pf. angor & Ar pf. 43 108% 96% 98 6% 1% 587 96 38% 125% 59% b8 85 299 Barnesdall (A). 16 Batopilas Min.. % Bayuk Bros..... 57 Beth Steel 63% Beth 5t1 7%(n).. 91 Booth Fish..... 6 BrEm St12d pf. 15% Bxlyn Edison... 111 Brklyn-Man Tr. 14% Brkin-Man T pt. 494 Bklyn Un Gas... 1204 Buff Rch & Pitts. 49% Burns Bros (A). 104% Burns Bros (B). 24% Butte Copper... 5% Butte & Super.. 15% Caddo Oll. Calif Pack. Calif Petrol. ... Calif Petroi pf. Callaban Zinc. - Calumet & Hecla Case Threshing. Central Leatn. . Cent Leath pf. Cerro de Pasco. Chandler Mot Chesap & Ohlo. Chi & Alton pf. Chi & East Til. Chi & E Il pf. Chi Grt West Chi Great W pt. 10% ChiMil&StP.. 1 ChiMil &St Ppt 24 Chi & Northwn.. 50% Chi & Nwn pf... 102 Chi Pneu Tool.. 83 ChiRI&Pac... 23% ChRI&P 6% Dt 65% ChiR I&P 7%pt. 76% ChiStPM&O... 31% CStPM&ODPL.. 5 Chile Copper.... 2T% Chino Copper. 17% Cluett Peabody. 73% Coca-Cola. . T4 Columbla Gas... 35% ColumbnCarbon 49% Comp Tabulat.. 94% Congoleum Co... 45 Cons Cigar..... 21 Cons Gas of NY. 61% Cons Textil 6% Cont Can. 55% Cont Can pf 105 Continental Mot _ 7% Corn Products. . 157% Cosden & Co. 36 92% 66% 83% 16% 624 70 66 18% 108 12 105% 19% 131% 86 109 23 65% 114 21% 29% 1% 893 41% 9% 8% 44% 6T% 12% 46 40 2% 956 96% 196 10% 16% 81% 99 b52% 26% 101% 4% Crucible Steel. . Cuban-Am Sug. Cuba Cane Sug. Cuba Cane S pt. Cuyamel Frul Davison Chem. . De Beers....... Del & Hudson D Lack & West. Detroit Edisen Dome Mines. ... Dugont (EI) Dupont deb Eastman Kodak. EatonAxle &Sp. Endicott-John. Endicott-J pf Erle... Erie 18t pf. Famous Players Famous Play pf. FdMines&S pf. Fifth Ave Bu Fisk Rubber. Fleishman. Foundation Freeport Texas. Gen Am Tk Car. Gen Asphalt. Gen Asphalt Gen Baking Gen Cigar Gen Electric. Gen Elec spl. Gen Motors. Gen Mot 6% deb. Gen Mot 7% deb. Gen Refractories. Gimbel Bro; 49% Gimbel Bros pf. 99 Goldwin Corp 9 Goodrich. 22% Goodyear pf. 40 Goodyear pr pf.. 88% Granby Consol.. 15 orthern Gt N g 16% Guantana Sug.. % 83% % 90% Al% 403 34% 70 2% 18 Guif St Steel.... Harbishaw Cab. Hanna (M A) pt. Hartman Corp.. Hayes Wheel... Househ'd Prod. . Houston Oil. Hudson Motors. Hupp Motor: Hupp rights. Hydraulic St Il Cent pf f pd. Ind Ol1 & Gas. Indiahoma. IndianMotorcycle ry | indisn Refining. inland Steel. ... Inspiration. ... Interb Rap Tr.. Int Agr Corp (n) In Ag Chem p’. Int Cément..... Low. 16 57 11 83% % 98 96% 9% 50% 7% 22% 10% 18% 36% T4% 43 108% 95% 98 6% 11% 58% 96 37% 55 20% 1254 149% 147% 101% 664 8% 2% 8% 3634 924 12% 81 89 28% T4 86 112% 1% 1% 18% 12% 130 9% 28% 87 ™ 124% 587 58% 86 299 16% 1% 19% 5% 36 12% 4% TH 43 24% 6% 29% 13% 16% 49 22 Close. | 6% 12% 41 674 6% 704 5% 16 4% 1% 36 104% 109% 120% 22% 20% 66 1% 83% 5% 100 96% 9l K60% 89% 23% 10% 19 37T% 5% 44 108% 984 98 63 11% 60% 96 87% b5 21% 125% 150% 147% 1015 66% 3% B 8% 3814 2% 12 811 89 28% 97% 87 12% 130 9% 28% 87 B 124% 58% i 441 6% 12% 46% 39%% 72 95 95% 194% 15 82 929 52% 49% 29 9% % 54% 28% 15 % 82% % 80% 41 40% 84% 0% THE { Kansas & Gulf.. | Kansas City 8. | Kansas C 8o pf. Kayser (Julius) Kelly Spr Tire.. { Kelly-Spr 6% pt }Xelly-Sprgd pe TKennecott. .. ... Keystone Tire. Kinney GR..... Laclede Gas. ... Lee T & Rubber. Lehigh Valley. . Lig & Myers. ... Lig & Myer (B). Lig & Myers pt. Lima Locomo. Loews Inc. Lorillard (P). Louis & Nash. Mack Trucks, Mack Trucks 1st Mack Truck 2d. . Magma Copper. Mallinson & Co. Manhatn El guar Manhattan Elev Manhat Sbire. .. Maracalbo Ofl. Market St prior. Marland Of1. Martin-Parry. . Mathison Alkill. Maxwell (A)... Maxwell (B) May Dp Stores Mej Edison pf. . Mex Seaboard. . Mex Seabd ct7s. AMiami Copper. .. Middle St O11 Midvale Steel. Minn StP & SSM. Mo Kan & Tex Mo Pacific. Mo Pacific pf.... Montana Power | Monte'y Wara Moon Motors Mother Lode Mullins Body Munsingwear. sh Motors Nat Biscuit Nutl DeptStores Nat! Enamel Natl Lead at Supply. Nevada Copper. N Or Tex & Mex. NY'Alr Brk (A). N Y Afr Brake. {N Y Canners N ¥ Central. N ¥ C-Readg rts. NYCh! & StL.. NY Chi & StLpf. NYNH&Hartfd. NY O & Westrn. Norf & Western. North Amer-.... North Am pf. North Pacific Nunnally Co. . Oklahoma Prod. Onyx Hosiery. .. Orpheum Circuit. Otis-Elevator. Otis Steel. ..... Owens Bottle. Pac fic Develap. Pac Gas & Elec. Pacific OIl. . Packard Motor. Pan-Am Pete. Pan-Am P (B! Panhandle. Parrish & Bing. People's Gas. . Pere Marquett Philadelphia Co.. Phila Co pt Philip Morri Phillips Pete. Pierce-Arrow. Plerce Ar ptf. Pierce Ol Pierce Oll pf. Pitts Coal. . Pitts & W Va. Postum Cereal Pressed St Car. Produc & Ref. Pro & Ref ctfs. Pub Service. Pub Serv 8% pf. Pullman Co Punta Alegre. .. Pure Of1 Pure Oi1 8% pf. Ray Con Copper Reading. .. Reading 1st pt Reading 2d pf. Remington... | Reming 1st pf. Replogle Steel Rep Ir & Steel Reynolds Spr. Rey Tobac (B) Royal Dutch. St L&San Fran.. St L&San Fr pf. St L Southwn. Savage Arms. Schulte Stores. Seaboard Air L. Seabd AL pf. Sears Roebuck Sears Roebk pf. Seneca Copper. . Shell Tr & Tran. Shell Unfon. Shell Union pf. Simms Petrol Simmons Sinclair O11 Skelly Oil. . Sloss-Sheffield So Porto Sugar. South Pacific Southern Rwy Southern Ry pf. Spicer Mfg Co... Spicer Mfg pf. St Ofl of Calif. Stand Ollof NJ StOilof NJ pf. Sterling Prod. Stew'd-Warner. Strombg Carb. .. Studebaker. Submarine Bt. Superior Ofl. Superior Steel. .. Sweets Co of A. Tenn Coppe! Texas Company., Tex Gult Sulph. Texas & Pacific. Tex & P.C & Of). Third Avenu: ‘Tide Water Ofl Timken Bearing ‘Tobacco Prod.., Tobacco Prod A. ‘Trans Cont O1l. United Fruit.. Utd Pap Board. Utd Ry Inv pt. U S Cast I Pipe. U S Cast It P pt. U 8 Food Prod.. U 8 Indus Alco U S Realty. . U S Realty pf. U S Rubber.... U S Rub 1st pf. U S Smelt&Ref. . EVENING STAR, WASHINGTON, D. C, Open. High. % 1 13% | Wabash pf (A). 35% 4% % 43, 30% 14% 16% 49 22% | Wheel & LEpt.. 4% 14% 14% 14%| 11am....252 200 2 27 |WhiteEagOll,, 26% 26X 26%)20%|13m... Waldorf System. ‘Web & Hellbra. Western Md. Western Union. Waest Alr Brike. ‘Westhse E1&M. . Wheeling&L B. 15 15 108 108 108 84 84 84 84 60% . 60% 60% 60% T% u 85% 33 o 27% 31 39% 42% 26% 69 38 354 40 53% 154% ™ 171% 107 {HARDLY ANY MOVES IN BOND MARKET g s& “2 First New Year Session Finds U. §. Government Issues in 3ix Active Demand. 1% 5% 851 4% 3% 60% ki 14% 61 239% 237% 116 66% 17% 564 COFFEE BONDS GO HIGHER Railroad Obligations Begin 1924 With Prices Firm. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, January 2.—The new year brought no decisive change in the general character of the bond market. Trading today wi along the same lines as last ‘week; that is to say, the high-grade investment is- sues, both United States government loans and rails of the savings bank class, were steady, but without ten- dency to advance, while the specula- tive obligations fluctuated in accord with the trade outlook of industries represented. THe expected reinv ment demand has yet to make its ap- | pearance or rather to show its effect in quotations. Libertys in Demand. Among the Libertys the ' tax-ex- empt 3%s and the Treasury 44s were in the greatest demand. The other 4% issues reacted slightly. The feature in the high-grade util- ities was furnished by the new Ameri- can Telephone and Telegraph de- benture ks, which were very firm iaround their recent high. The dis- tribution of this f{ssue considering its sige was one of the most notable achlevements of the year just passed. Reading general 4s held above 87. Except for the obligations of a few roads, the speculative rails were not especially active. Erie convertible “D" 4s were traded in in large vol- ume just above 60. This is the issue that still carries the conversion priv- llege. Nearly all the St. Paul junior liens were active and a trifie higher. Public Service Issues Active. In the tractions Brogklyn Manhat- itan Transit 65 were again the lead- ers, but prjge changes were small new buying being just about bal- anced ‘by profit-taking. The weak issue here was Public Service of New Jersey 5s, which broke below 78, against a'low of 76% for the entire year 1923. United Railways of St Louls 4s/reacted a point after their recent advanc In industrials Virginia-Carolina “hemical 7s and 7%s, with warrants, were both in demand at substantially higher prices. The Cuba Cane Sugar 75 and Ss held firm, but-did not re- sume their advance. Among the cop- per bonds Cerro de Pasco 8s jumped Up in spectacular fashion, respond- irg to the advance in the stock. Other copper bonds were fraction- ally up. In the foreign group French bonds showed remarkable resistance to the sentimental effect of the depression in frane exchange. United Kingdom 5%s of 1937 were heavy. This is he purely investment issue, payable in ¢ollars, and without the conversion privilege into sterling bonds, which the 1929 maturity carries. DOUBLE-TRACKING 1923 RAIL FEATURE Construction of New Lines Very Small—All Traffic Records Smashed. 88% 17% 89 9% 89 » o1% | 50 12% 60% 68% 216 13% | 42% | 3y | 98% 4% 43% 42% 21% | 36% 95 27% 2% 23% | B 631 381 6% 54 » Associated Press. NEW YORK, January 2.—Railroads of the United States made more prog- Tess in 1923 than in any other year since the outbreak of the world war, ;2“ according to a review made by the 433 | committee on public relations of the 100% | eastern rallroads, of which E. E. 122 Loomis, president of the Lehigh Val- 57:i‘|ey railroad, is chalrman. g‘“ Summarizing its conclusions, the 3 | committes stated that the year was 12 |marked by the greatest traffic vet known; the highest degree of operat- % 5214 | ing efficiency vet achieved: the great- B2% | €5t increase in new facllities for the 93" | past ten years; the beginning of sub- stantial new construction after a 91% | Japse of almost eight years; improved 124 | co-operation with shippers, and by 51% | substantial improvement in earnings 20% | and in labor-and public relations. ";:4‘ Much Double-Tracking. CHICAGO, January 2.—Statistics, 19% | which have been compiled by the 4234 | Railway Age, show that the construc- 33 |tion of new railway lines in 32% {United States continued to be very 109 |small in 1923, but that there is a 6% | marked increase in the construction 14% |Of second track for the purpose of double-tracking lines of heavy traffic. 87 | The new lines bullt consisted of only 1183 1427 miles. With the exception of the 5% | years 1920 and 1922, this is the small- 33% | est mileage ever reported. On theother 17 | hand, there were 684 miles of line 92% | doubie-tracked as compared with 196 11% | miles in 1922, and 143 miles in 1921. 23% | There were abandoned and torn up 2614 (129 miles of line, and there Were 254 | 384 miles abandoned, but not taken 607 |up. This was a reduction as com- 881, | pared with the record of recent years, and indicates that for the first time 87 |since 1915 there was a small net in- 38% | crease in the total mileage of rail- 67 [ way lines In the country. e Less Equipment Ordered. 83% | There was a reduction during the S5 [year in ghe number of locomotives and cas€ ordered by the railways. 117 | The number of locomotives ordered 63 |from the builders was 1,984, as com- 91 pared with 2,600 in 1922. The num- 80 |ber of freight cars ordered was 9,471, 106% |as compared with 180,154 in the pre- 11% | vious year and the number of passe: 2% |ger cars ordered was 2,160, as com- 818 | pared with 2,352 in the previous year. 3 The orders placed for equipment in the latter part of 1922 were, how- ever, extraordinarily large and in consequence there was a very large increase in the amount of equipment built and placed in service in 1923. The_locomotives built in 1923 were 3,362, as compared with only 1,303 in 1022” The number of freight cars builf was 175,748, as compared with only 66,747 in the previous year and the number of passenger cars built was 1,507, as compared with 747 in the preceding year. 5 20-CENT COTTON LOANS. ATLANTA, January 2.—The position of farmers who are members of the Georgla Cotton Growers' Co-operative Association has been strengthened by the decision of the jociation to ad- vance 20 cents a pound on cotton har- vested and stored by msmbers of the organization Hitherto 15 cents has ‘been the highest advance. Last year at this time the assocla- tion had advanced 32,250,000 to its members. This year $3,750,000 already has been advanced at the old rate of 16 cents. 9% 44 62% 19% 12% 10 123% 39 67% 89% 4% 128% 12 82% 823 183 20 3% 68% 86 3% 71% 101 104% 38 21 99 119 65% 80% | white Motor.... 65% &5% &6 % 26 ON NEW YORK Received by Privats Wire Direct to The Star Office. (Bales are in $1.000.) UNITED STATES BONDS. (Fractions . represent Exampl Lib3%s..,. Lib 1st 4% Lib 4th 4%s. US4%s1952. 208 thirts 98-3 means 9 Bales. High. Low, 99-9 98-11 98-7 99-12 98-11, 99-12 FOREIGN. Bales. High, Low. 8 21 15 26 Argentine 7s. Austria 7s Belgium 7% Belgium 101% 86% 974% 97 895 98-8 98-4 99-8 989 99-8 - seconds. 3-32) Close.. 898 98-9 98-5 99-1: 98-11 99-1 Close. 101% 86% 97 97 101% 86 97 26% "~ WEDNESDAY, JANUARY 2, 1924’ BONDS woc mxcaanez| RAILROADS. ‘Bales. High. Low. Atchison gen ds. 87% 87 Atchison adj 4s.... 9% 19% Atlantic C L 1st 4s. 87% 87 AtlanticCLecl 4s.. 82 82 96% 96% 82 814 101% 100% 83 82% 83%. 83% 9% 719% 9% 96% 67 67 % 71 111% 111% 80% 79% & O SW div 3% B & O Toledo 4s Bklyn-Manhat 6s. 461 Canad North 6%s. . Canad Pac deb FINANCIAL. P Live Stock .| Slow buying characterizea the mar- 7% |ket the day atter the close .of the 79% |Christmas and New Year holiday sea- 82 26% 82 101% 82% 83% 79% 96% 67 1% 111% 80% not return to normal conditions until tomorrow or Friday. Very few changes in prices since Monday were reported. Turkeys Wwere ‘still fairly plentiful today, many of them having been carried over the hoilday season because the demand was not equal to the supply. Prices of other poultny remained the same as earlier in the week, and dealers predict a decrease in egg prices in the near future unless Weather conditions should interfere with haulers, Belgium ¥ Bern 8s - Bollvia8s.... Bordeaux Brasil 7s Brasil 8 Brasil 7 ad Canada 5%s 1929 Canada 58 1952. Chile 88 1926 Chile 85 1941. Chile 781943, ... Chinesé Gov Ry bt Christiania 8s Copenhagen 5. Cuba 5%s ctfs. Czechoslovakiu 8 Denmark 8s. Denmark 6s. Dutch E15%s Dutch East I 65'47. Dutch East I 68'62. Framerican 7% French Govt 8; French Govt 7%s.. Holland-Amer 6s. Japanese 1st 4148 Japanese 2d 4% Japanese 4: Jergen UM Lyon 6s. Marseille 6s. . Mexico bs Mexico 4s. Montevideo 7s Netheriands 6 Norway 8s Norway 6s 194 Norway 6s 1952 Orlent Dev deb 6s. Paris-Ly's-Med 6=. Prague 7%s o Queensland 7s Queensland 6s. ... Rio de Jan 8s 1946. Rio de Jan 85 1947. Rio Gr Do Sul 8s. Sao Paulo State 8 Seine Dept of 7s. Serbs Croats Slo 83 Sweden 6: Swiss Confed 8s Tokio 53.... Ud Kingm 5%s'29. Ud Kingm 6%s '37. Uruguay 8 Zurich 85 MISCELLANEOUS. Ajax Rubber 8s Am Agr Chem 7 Am Cotton Oil 5. Am SmIL&R 1st 5s. Am SmIt&R 6s. Am Sug ref 6s AmT& Tcv 6 AmT& Tecltr bs, AmT& Tcltrds. Am T & T deb 5%s.106 Am Writ Paper 6 Anaconda cV db 7 Anaconda 1s* 6s. Armour & Co 4%s. Armour of Del 5%s Asso Ol §s rets. Atlantic Refin 5s. Barnsdalls f s Bell Tel Pa 55 Beth Steel rt 5 Beth Steel pm Beth Steel s f 65 Brier H 8t 1st 52 Bklyn Edison 7s D. Bklyn Ed gen 6s. Bush T Bldg 5a°60. Calif Pete 6348 w 1. Central Leather 53 Cerro de Pasco 8s Chile Copper 6s Commonwth P 63 Con Coal Md 1st 5s. Cuba Canecvd 8s. {Cuba Cane cv 7s '30 Det Edison ref 6s. Donner Steel 7a Du Pontde N 7 %s. Dugquesne Light 6s Est Cuba Sug 7%s. Empire G&F 7%s. Fisk Rubber 8s. ... 3en Elec deb 53 Soodrich 6%s Goodyear 8s 193 Humble O&R 5% [llinois Beil 1st bs. Int Mer Marine 6s. Int Paper 1st 58 A. Int Paper 1st 5s'B. KCP&LtosAbd2. the ) Kayser (J) 7 Kelly-Spring 8s. Lackawa S 5550 Liggett & Myrs 5 Lorillard (P) &s. Magma Cop cv 7s. Manat! Sug sf 7%s Marland Oil 7%s. . Marland Oil 8s'31. Midvale Steel Montana Power Morris&Co 1st 4348 New Eng Tel 68 N Y Edsn 1st 6%s, NYG EL H&P 4s. N Y Tel 68 '41. N Y Tel 65 '49. NY Tel 4%s... N Am Edison Nor States Pow. Northwst B Te 7s. Otis Steel 73%s. Pacific Gas & El 55 Pac Tel & Tel 5s. Pan-Am Pete 78 Pan-Am Pete 634s. Phila Co 5%s '38. Phila Co ref 63 A. Plerce-Arro Public Service 68 Sinclair Ol 7 Sinclair Oil 63s. Sin Crude Ol 5%s. Sin Crude Ol Sin Plpe Line 6s. South Bell Tel b So Por Rico Sug Steel & Tube 7s. ... Tenn Elec Pow 6s. Tide Wat Oil 634s. Toledo Edn 1st 7s. Union Bag & P Unit Drug cv 8s. U S Rub 1st rf 5 U S Rubber 7 *.‘ U S Steel 258 Utah Pow & Lt Va-Car Chem 7s. Va-Car Ch 7%8 w. Warner-Sugar 7s.. West Union 6%s. .. ‘Westinghouse 7s wickwire Spen T wilson & Co 18 wilson&Cev 7 ‘wilson & Co cv 6 inchester A 73%s. Youngstn 8& T 6. 4 97% 108% 85% 7% 8% 94% 95% 100 101% 99%% 102% 102% 94% 42 108 88 91% 4% 108% 93% 90% 95% 4% 85% 94% 91% 894 8% 93% 92% 80 6% 4% 75 45 27% 86 96 112 93 92% 88% 66% 7 105 100% 88% 871 93% 98% T9% 64 % 104% 111% 63% 108 54 99% 1104 1% 22 97 108% 85 74% 1% 4% 95 100 100% 99% 102% 102% 4% 41% 107% 88 91% 4 108% 93% 90 94% 94% 854 94% % 884% 8% 93% 92% 80 76 T4% ki3 44% 274 86 96 12 92% 92% 88% 66% 6% 104% 100% 87% 87 92 98% 9% 63% 7% 104% 111% 62% 107% 99% 104 111% 8% 7% 82 92 102% 101 118% 9% 921 98Y% 44% 98% 96 83% 8814 95% 974 97 98 96 3 89% B9 9% 16 93 8 108 16 98 92 941 94% 137 99 874% 8T 97% 1% 104% 86% 107% 103% 106% 9015 103 101% 98 s 101% 114% 101% 96% 941 794 83% 834 89 105, 101% 88 96% 96 1113 98% 100 103 85% 95% % 97% 110% 82% 104 106% 93% 1% 89% 107% 1 87% 98 36 841 20 924 6 102% 16 101% 118% 9% 92% 98Y% 4 46 38 99 22 96% 6 B84 14 88% 89 96% 2 9% 15 97 14 98% 2 1 14 18 - o W m wentomaBon ~ElalnoBl. .t 9 ol Bacome - ® @ph maRANORsOaAR® ol 81% 94% 101 104 93% 102% 108 96% 112 84% 106 102% 87% 84 72% 102% 108% 106% 75 96% 97% 94 102% 106 96% 112 85 106 103 88 84% 7344 102% 109% 106% 76 96% 97% 87% 874 100% 100% 4% 9% timism for 1924. %| NEW YORK, January 2—The be- a1 | sinning of the new year In the cot- ton market was marked by many ex- 10% | pressions of optimism as ta' general 81% | business prospects, but 30% 389% 388% 39% 18% 18% 13% 18% High. Low. Last. Call Money..... 5% 6 & HOURLY BALES OF S$TOCKS. 14% 15 108 T T + 707 100 461 300 2p.m, ous or- unsettied immediate my largely. and . easier pool, fore the local o] Cotton _future: 35.25; March, 36.5 34. ‘which sold of feeling lrkt{. The latter 0 showing the of 35.60; October, 28.62. NEW ORLEANS, La., Js uary, 35. 5.05; March, 34.23; October, 1 o tton futures opened steady. p.m 584 000 | Cottor AR T YL 28.20, " 94% TODAY’S COTTON PRICES. 16% | mm———————————————— Market Irregular in Spite of Op- Liver- % sharply just be- ning. " opened, -January, May, Car Clinch & O Car Clinch & O Cent of Ga 6s. . Ches & Ohio cv 5s. . Ches & O cv 4% Ches & O gn 414 Chi B&Q gn 4s '58, Chi & E 11l gn 5; Chi Great West Chi GrWest 4s (n). CM & Puget Sd 48. 1 ChiM&StPrf4ls 2 Chi M&St Pcv bs.. 36 Chi M&St P 48 °'25.. 85 Chi M&S Pcv 4%s. 26 Chi Rys bs..... ChiR1& Pacrt Chi T H & SE 53 Chi Un Sta 4%s Chi & W Ind cn 4; Chi & W Ind 7%s CCC&StLirf 65 A Cleve Term 6s. ... Cleve Term 5%s. CubaRR5s. .. Del & Hd 1strt 4s. 38 Del & Hudson 5%s. 5 D & Rlo G imp 5s.. 18 D& RG st rt b 58 Det United 4%s... 18 Erle 1st con 4s 6 Erie con ext 7 1 Erle gends . 20 Erie conv4sA.... 62 Erle conv4sD. ... 394 Gr Trunk sf db 6s.. 8 Gr North gen 7s. .. 28 GrNorth gen 5%s. 6 GreenB& WdbB. 1 Havana ERL&P 63 1 Hud & Man ref 5s. . 14 Hud & Man aj 5s.., 11 111 Central 5%s. 2 Int Rap Tran 6s... 11 Int Rap Tr 6a stpd. Int Rap Tran 75 Int & G Nor Int & G Nor 1st 63 Kanses City S 5s. . Lake Shore 45 '25. . Louis & Nash 514 s, Louls & N 68 2003. . 93% 96% 100% 86% 89% 887% 84% 86 1 76% 50% 48% 50% 50% 65% 68 56 4% 73% 1% 91 1% 102% 100% 95% 102% 93% 93% 96% 96% 100% 100% 86% 86% 89% 88% 88% 88% 84% 84% 8 86 76% 6% 50% 50 48% 48% 50% 50% S0%! 50% 55% 55% 687% 68 55% 55 T4 T4% 78% 73% 8% % 9% 91% 7% 1% 102% 102% 100% 100% 95 954 102% 102% 82 8% 83% 83% 974 9TH% 9% 9% 40 39% 8 8 61% 61% 104% 104% 54 534 55% b4% 60% 60 103% 103% 106% 106% 96% 96U % % 82% 824 81 80% 58% 58% 101% 101 59% 59% 59% 59 83% 834% 40% 40% 90 90% 86% 86 94% 943 105% 105% 9% 9T 56% 56 66% 95 94% 94% 101% 101% 101% 86l 86% % 76 9% 78% 65% 65 95 95 97 86% 75 1% 94% 95 100 61% 104% 53% 55% 60 103% 106% 96% % 82% 81 58% 101% 59% 595 83% 40% 90% 86 9434 105% Manhat Ry cn 4s.. Market St cn bs. M StP & SSM 63s. M StP & SSMcn 43 T 1st 4s 76 TprinssA. 79% 65% 95 52 8% 5% 61% 76% 85% 744 103% 95% 81 ! 59 { 70% 69 1% 58% 40% 87% 106% 57% 81% 102% 90% 102 924 79% 995 90% 107% 107% 94 21% 913 87% 72 8316 664 80% | 58 78 98% 78 95% 73 1% 59 48 43 68! 92% 864 83% 95% 6944 & & & 75% 75% 51% 51k 76% 76% 8 85% T4 74 103% 103% 95% 95% 81% 81 60 59 0% 70% 69% 69 1% 1% 58% 58% 40% 393 874 87 106% 1064 5% 57% 81% 8114 102% 102% 90% 90% 102 102 924 92y 9% 79% 99% 991, 90% 90% 108 107% 107% 107% 94k 941 21k 21% 91% 91% 87% 874 2% 72 831 831 66% 657% 80% 803 58% 58l 3% 72% 98% 98% 78 714 95% 95% 73 73 7% T1% 59 59 48 48 4% 43% 681 6814 92% 928, 86% 861 83% 83y 95% 954 69% 694 101% 101% 96% 96% 54 54 45 44 9% 90% 81% 81% 95% 95% 103 103 100% 100% 92% 1 88 58% T9% Mo Pacific gn 45 New Or Term 4s. N OTex & Min s, N Y Cent gen 3% s. N Y Cen deb 6 N'Y Centriss N Y Centcn 4s 9§ New Haven cd 6s. New Haven 7s. New Haven 7s fr. . N Y Rysadj Ssct.. N Y State Ry 4%s. NY W & Bos 4%s iNorfolk & W cn 4 Norfolk & W cv 6: Northern Pac 3s Northern Pac Northn Pacr 1 6; Northern Pac 5 O Short L cn 55 "4 Ore Short Lref 4s. Ore-Wash 1st rf 43 Pennsyl gen bs. . Pennsyl gen 433 Pennsyl 6%s. Pennsyl gold 7 Peunsyl con 43;s. Peoria & E inc 4s. Fere Marq 1st 5s. . 84w 92 102% 1015 118% 97% 9215 98% 46 98% 96% 84 88% 96% 97% 97 98% 96 89% 97% 93 108 98 92 94% 95 140% 99% 74 8744 9% 1% 104% i 8614 108 103% 106% 90% 103 101% Regling gen ts H St IM&S R&G ds. StL& S Fadj 6s. StL&SFpl6sC StL'S W con 4s '32. St P Un Dep 5%, StP & KCShL 43s. 98ty | San A & Arn P 4s. 1013 | Seab'd A L 4s sta. 114% | Seab'd A Liref 4s. 1013 | Seab'd A Ladj 5 98 * | Seab’d A L con 6 941 | Sou Paclfic 45 192 7914 | Sou Pacfic ref 4s. 83y | Sou Pacific cit 4 833 | Southern Ry 1st 65 39‘ Southern Ry gn 4s. 14 105 |Southern Ry 6%s.. 33 101% Southern Ry 6sct. 7 80 | Third Ave ref 4s... 13 96% | Third Ave adj bs. . 102 96 | Union Pac 1st 4s... 25 111y | Union Paclstrt4s. 5 9gs; | Union Paccv 4s 2 100 * | Union Paccvés... 13 j03 |Union Pacistrfés 1 86 | Virginia Ry 1st 95% | Va Ry & P 1st Gs. .. 77% | Western Ma 973 | Western Pacific 110% | West Shore 1st 4s 8% 8214 | Wheel & LEcn4s. 5 60 :3:!‘ TOTAL SALES (Mar Value): 935 | 11@.m.. 3903000 12noon 6285000 91%| 1P-m.. 7555000 Zp.m.. 90430003 85% | P 107% 93 | 1% 91 |Guaranty Trust Company Praises 102% Coolidge Program. 9614 90 | special Dispateh to The Star. 109 | NEW YORK, January 2—As we en- 7714 | ter 1924 nelther a boom nor a gen- 93y | eral depression is in sight, states the 88 | current number of the Guaranty Sur- 97% | vey, published by the Guaranty Trust | 82 .15 30 17 3¢ 96% | 54a 45 91% 813 95% 103 100% 924 | 88 58 9% 8% 60 “The outlook,” according to the Sur- 101 |vey, “is rather for the maintenance 104 |of a sound middie course for business as a whole. “Important business problems are before Congress for action, and if 94 102% 106 ° 864 | & { pound, 1014 | BANK SEES SOUND TRADE. i LOCAL WHOLESALE MARKET. msxfi—smcuy fresn, selected, t,%ln- , per dozen, ; averag ts, $45% er dozen, 45a46; average recelp! Live poultry—Roosters, per 1b,, 16; turkeys, per Ib., 3 ; spring chick- ens, per 1b., 28a30; keats, young, each, 60a70; fowls, per 1., 25a26. Dressed poultry—Fresh killed spring chickens, ‘per ‘Ib., 33a33; roasters, per b, 30a32; hens, per Ib., 27a28: turkeys, per Ib., 35ai0; keats. young, each; $0ass; rooiters, per I, 20. e—] it 2.0083.60; No. 2, 1iaisy o 0™ Live stock—Calves, choice, per Ib, 12; medium, per Ib., 11; thin, per Ib. 8a10. Lambs, spring, per Ib., 13. Liv DIES, 3.00a5.00 each; five hogs, per Ib. tireen fruits—Apples, per basket, 50a2.00; per barrel, 2.00a6.00. Cali- fornia ‘oranges, per crate, 6.00a7.00; Florida, 2.50a4.00. Lemons, per box. 3.50ad. Grapefruit, 2.50a3.25. Cran- Derrles, 5.00a5.50 per one-half barrei. Grapes, California Emperos, 1.50a2.50. Vegefables—Potatoes, nearby, per bbL, " No. 1, 2.25a2.50; No. 2, 1.00 Potatoes, round, per bag. ; sweet potatoes, 5.00a6.50 per Dbbl Southern lettuce, per crate, 1.00a2.00; Iceberg, 3.00a3.50. Cabbage, northern, 1.50a2.00 per 100 1bs.; nearby, 1.00a 150 bbl. Tomatoes, Fiorida, 3.00a6.00. Beans, southern, per basket, 2.00a3.50. Peas, per basket, 1.50a2.50. New York celery, per crate, washed, 5.50a6.00; in rough, New York, 2.50a4.00; California, 6.00a6.50. Squash, 2.50a3.00. Peppers, per crate, Florida, '2.50a3.50. £ggplant, 4.0085.00. Kale, per bbl, 1.00al.75. Spinach, per bbl., 2.50a3. Southern cucumbers, per bushel, 4.50a5.00. Car- rots, 100-1b. sack, 2.25a250. Brussels sprouts, 15a2 GRAIN AND PROVISIONS. BALTIMORE, January 2 (Special) — Potatoes, white, 100 ‘Ibs, 1.00a1.90; 150-1b. sacks, 1.50a3.00;, Sweets and yams, bbl., 2.00a6.00; bushel, 1.00a2.50; beans, bushel, 2.00a3,00; beets, 100, 4.00a5.00; broceoli and kale, b 35a40; brussels sprouts, qt, cabbage, basket, 1.26a1.50; bushel, 35a45; carrots, caulifiower, 1.50a celery 2.00a4. cucumbers, crate, eggplants, crate, 3.00a4.50; lettuce, bushel, 1.00a1.75; onions, 100 Ibs., 1.75a2.75; "oyster plants, 100, 6.00 parsnips, “basket, 45a55; peas, hamper, 1.50a2.50; peppers, crate, 1.50 inach, bushel, 75a1.00; squash, , 1.50a2.50; tomatoes, crate, 3.00 a5.00; turnips, bushel, 35a40. Apples—Packed, barrel, 2.00a4.50; bushel, 50a1.25; loose, 100 lbs., 1.06 al.35; " box ‘apples, 1.50a2.25; cran- berries, bbl, 6.00a8.00; grapefruit, box, 1.50a2.75; oranges, box, 2.00a4.00 pineapples, crate, 3.00a5.00; straw- berries, qt Selling Prices on Grain. 2 red winte 0. 3 red winter, spot, 0. 2 red winter, garl domestic, 1.09; export, no quo No. 3 red winter, garlicky, spot, no quotation; No. 4 red winter, garlicky, spot, no quotation. Sales—None. Corn—Cob. new, 3.80a3.85 for vel- low and 3.65a3.70 per barrel for white; No. 2 corn, spot, $4; No. 3 ; track corn,’ yellow, Oats—No. 2. white, 53%a54; No. 3, white, new, 52a523. Rye—Nearby, 75a85; No. 2 spot, 78%. Hay—Receipts, 115 tons. The tone of the local hay market is firm, with light offerings of the better grades of timothy, light mixed and No. 1 clover, for which descriptiod there is a fairly good demand at market quotations. Quotations—N. timothy, 28.00 per ton; No, 2, 26.0¢a2 3, 24.00a25.00; No. 4, 22:00a23.00 1’ clover mixed, 24.50a25.00; clover, 24.00a25.00. Straw—No. 1 straight rye, 24.00a 25.00 per ton; No. 1 tangled rye, 15:00a16.00; No. 1 wheat, 13.00a14.00 No 1 oat, 14.00a15.00. DAIRY PRODUCTS. BALTIMORE, Md., January 2 (Spe- cial).—Live poultry—Turkey 25a30; young chickens, horns, 20a24; old hens, horns, 20a22: old roosters, 1 20a27; geese, 22a28; pigeons, 25a30; guinea fowl, each, 35a65. Dressed poultry — Turkeys, pound, 25a32; chickens, 25a38; old roosters, 16al7; ducks, 25a30; geese, 24a30. Eggs—Loss off, native and nearby firsts, dozen, 42; southern, 40. Butter—Creamery, good to fancy. 51a36; prints, 56a58; nearby creamery, 42a46; ladies, 34a35; rolls, 28a32; store packed, 26a27; dairy prints, 28a32; process butter, 39. CHICAGO LIVE STOCK, MARKET. CHICAGO, January 2 (United States Department of Agriculture).—Hogs— Receipts, 17,000 head; very slow; 10 to 15 higher; bulk good and choice, medium and ' handy weight butchers, 7.40a7.50; shippers paying 7.60 for prime 300-poun pound ~ averages, 7.30a7.35; better grades light weight, 7.00a7.35; pack- ing sows, 6.75a6.90; desirable weighty slaughter pigs, 6.25a6.75. Cattle—Recelipts, 7,000 head; active; very uneven; most killing ' classes strong to 25 higher; Dest yearlings and handy weight steers, 11.00; ma- tured steers, 10.60; bulk fed steers, 8.75a10.00; canners and cutters strong. bulk, 2.75 to 3.75; beef heifdss, 6.00a at cows, 5.00a6.75; bulls, 15 to 25 up; ‘weighty bolognas, 5.0085.25; veal- ers, 50 higher; shippers upward to 14.00; packers buying handy weight all; 0102.?0 and ?ib«l)lwh paying upward to .00 for good light vealers; stoc and feeders steady. s Sheep— Receipts, 11,000 head; ac- tive; fat lambs, 15 higher; €lipped lambs steady to strong; sheep amd feeding lambs steady; good and choice fat wooled lambs, 13.50a13.75; top, 13.90; good clipped lambs, 11.50; no choice fat ewes offered: choice 5o pair, {pound feeding lambs, 12.50. TODAY’S CHICAGO PRICES. CHICAGO, January 2.—Wheat scored something of an advance in price to- | day during the early dealings, Higher quotations at Liverpool, aseribes to smallness of world shipments and to the wet harvest In Argentina were 96% 112 85 106 102% 88 84 3% 102%| 109% 106% 76 96% 9% 87% 100% these problems are handled from the viewpoint of political, rather than business, considerations, well affect business prosperity. 82% Company of New York. 94% In true. The dominance of political over economic “considerations has greatly the United States. / “In this connection the legislative rogram of the administration as out- fined by President Coolidge in _hia message to Congress is heartening to the constructive business interests of the country. He indorses the plan formulated by Secretary Mellon for a needed and feasible reduction in the national taxes and glves it priority among his legislative proposals. Re- lief from needless and ill-propor- tioned tax burdens would provide a wholesome stimulus to business en- terprise.’ HOG RECORDS BROKEN. OMAHA, Neb., January 2.—The largest number of hogs, 3.649,496, ever recelved in one year n the history of Omaha, were shipped here in 1923, it was reported today. The next high- est figure was in 198, when receipts were 3,385,696 STABILIZATION AN AID. )N, Ohio, January 2.—Harvey 8. tone, president Firestone Tire and Rubber Company, says we have unrnfi many lessons and we have stabi! our industry, and, tl“:“; July, 2—- Jan- the important fields of taxation and ransportation particularly ls this fo should have a year of Deosperity, in 1524 chiefly responsible for the turn here. The volume of business in this may | Chicago was a little larger than has| recently been the rule, but was still below the usual average. Opening prices, which ranged from a shade to %al higher, May, 1.08 to 1.08%, and July, 1.06% to 1.06%a1.06%, were retarded the recovery of Europe and |followed by a slight reaction and ! may easily hamper the progress of |then by new upturns fractionally | higher than before. Despite cold weather offerings of corn to arrive were next to nothing. Commission_house selling of future deliveries, however, enlarged when prices advanced. After opening shadé to % higher; May, 74 to 74 the corn market sagged somewhal and then hardened again. Oats were upheld by the firmness of corn and wheat. Starting at % to %aY advance, May, 45%, the rket kept near to Monday's closing ures. Provisions made but little response to a rise in hog values. WHEAT— N Low. Cle 1.07% 1. 1 1. o5 T 1.06% 1.00% 3 5 a High, 1.081 107 107 May 01% July . ' Beptember 105% 105 B i May I s:é’n-'vm v May July FER SRR EREY ber 8 8 January . May .:. A _new brand of ginger beer popular in Fngland has been named for Lady Astor, & butchers; 180 to 225! #7% |son, and dealers say the market will | |liquid and tion. | eggs the year round. Grain, Produce and|TRADING IS BRISK IN LOCAL MARKET New Year Starts Off With Higher Prices’ Paid for W. B, & E Shares. MELLON CALLS FOR FUNDS ° Dividend Checks Sent Out by United States Bank. The Washington Stock Exchange started ‘the year 1924 with a good amount of trading, accompanied by a rise of slightly more than one point on the part of preferred stock of the Washington Rallway and Electric Compary. This issue sold upward to % on sales {otaling 46 shares. Capital Traction stock was weaker, selling at 95 to the extent of 72 shares, and five shares of National Savings and Trust Company stock sold at 380. \ The investment side of the market » enjoyed unusual activity. Washing- ton Gas 5s sold to the extent of $5,000, face value, at 93, with Traction s firm at 94%. Railway 4s gained a quarter point to 70%, with Ward- man Park Hotel 6s seiling at 99'% Melion Issues Bank Call. Secretary of the Treasury Mellon has ordered national banks of the country to pay into their regional members, not later than today, 123 per cent of the proceeds of the De- cember 15 last sale of certificates remaining with them on deposit to the credit of the Treasury. The call will constitute a draln_on, bank deposits of approximately $30,- 012,100. The funds being called con- sist jointly of 320,197,500 of six- month 4 per cent and one-year A4, per cent certificates. The originai loan of the government was approx- imately $340,000,000, the balance be- ing made up of exchanges. This {s the first dgaft on month’s flotation. New Stock Issue Announced. Robert Garrett & Sons of Baltimo: Spencer Trask & Co. and Marshali * Field, Glore Ward & Co. announced today the offering of a new issue of $1,000,000 of 7 per cent cumulative preferred stock of the Commercial Credit Company at a price of $26 and accrued dividend per share to yield 7 per cent. Subscripers to the 7 per cent preferred ure offered the priv- ilege of buying one share of common stock, of which 48,000 shares of no par value are being issued, at $22.50 flat per share for each three shares of preferred stock, which they are al- loted. The company is also issuing $1,000,000 par value of class B pre- ferred stock. The Commercial Credit Company owns all of the common shares of the Commercial Credit Corporation of New York and Montreal; Commerefal Acceptance Trust, Chicago, and Com- mercial Credit Company, [nc., of New Orleans. The combined resources of the four companies on November 30, 183, after pending financing, are over 56,000,000 and their combined pur- for the eleven months ended 0, 1923, were $160,671,984. of the company is'the « purchasing of open: commercial ac- counts, notes, acceptances, drafts, in- nd motor lien obligations, are secured by & ®abxtan- tial margin or by lien, the average pay- ment being in about ninety days, o that the assets of the company are subject to but little de- preciation. The company was foundcc in Baltimore in 1912. “Extra” Checks Sent Out. The United States Savings Bank is today mailing to stockholders § per cent dividend checks, an “extra” of 4 per cent having been declared in ad- - dition to the regularly quarterly dis- bursement of 5 per cent. It was also declared by directors that hereafter the institution would be placed on an an- nual basis of 30 per cent, payable 73 per cent quarterly, thus making it the largest dividend payer of any local bank. The bank has a capital of $100,000, surpius of a similar amount, undivided profits of over $50,000 and total re- ources of more than $2,000,000. Col. last | Wade H. Cooper, president of the Con- tinental Trust Company, is president, with “Wilber H. Zepp vice president and William R. De Lashmutt cashier. The bank is located at 14th and U treets northwest. [PRICES OF POULTRY JUMP IN RICHMOND Special Dispateh to The Star. RICHMOND, Va., January 2—With the advent of the first cold weather of the season the prices for poultry took a brace, and the market today is nearly double that of the days preceding Christmas. Turkeys are now 40 cents a pound. with the same for chickens. Gee ing for 25 cents, with ducks as low as 20 cents, and guineas are 25 cents. Eggs are somewhat lower than in the past, fr. country eggs now being offere 40 ce The butter market i ywing firmness, excel- lent coun butter ranging from 35 to 40 cents, with an excellent demand. It §s expected that the supply of § poultry will improve, but the cold weather ma ve to keep the prices up for several days. * APPLE MARKET SLOW. Arrived Ordinary Fruit Today in New York. Rather Special Dispatch to The Star. NEW YORK, January 2.—The mar- ket for barreled appl generally lacked activity today because the bulk < ‘of the arrivals consisted of only fair to ordin Iru]ll. wh sold” very slowly at irregular prices. Sl L nes soid at from $4.50 to $6.60 rrel for A grade 23%-inch stock, Repending upon quality and condi: A grade inch cold_ storage oldwins sold at from §4 to $5.50 per while common_ storage stock d from $3 to $3.75. Miscellane- grade -inch apples brought $3 to $4.50 per barrel. 300 EGGS IN 344 DAYS. New Jersey Hen Makes Remark able Record in Special Contest. NEW BRUNSWICK, N. J, January A single-comb White Leghorn hen owned by the Hgehn Farm, Brooklyn, N. Y., in the Bdrgen county interna- tional contest laid 300 eggs in 344 days. This record has been equaled only three times in_the state and beaten once by a White Plymouth Rock hen that laid 301 eggs. e A < ibiiiies of fresh he pos: onstrating the p e Swapring h-producing hens are being OLed §o "evelop strains with great egg-laying abilities. ————— BIG INSURANCE YEAR. Americans Took $11,700,000,000 in New Policies in 1923. NEW YORK, January 2.—Amer- &c;-nu in 1923 bought upward of $11,- 700,000,000 new _life insurance, esti- mates made by leading companies show. This total will be $2,000,000,- 000 greater than the amount written in 1922 and will break all previous records. It will be $1,500,000,000 higher than the total of 1920—the greatest year life insurance has ever experienced. The close of 1923 will rel, w life insurance in force on Amer. .c,:;\ lives of an aggregate of §55,000, 000,000. This amount is greater tha; the total of life Insurance in force in all the rest of the world,