Evening Star Newspaper, January 3, 1924, Page 28

:1 _—_————‘—‘—.—*——_—t—-*_—_—_—r_—“* > - = = - - - S = - - o = EXIENSWE SEI_”NG ] ‘NEW YORK STOCK EXCHANGE TRACTIONS LEADERS [on NEW YOoRK m INI 'S STOCK xxmul«:sh i é 29 | 7 * " Received by Private Wire Bivect ts The Star Ofice IN BOND TRADING T Live Stock . 163 1ron Proa .. ' ot Aoesn wRoteetin momser. 79% | the local market. Turkey prices have :‘g:!r:d- much lower this season than 96% ey were a year ago, dealers say, and it is thought there will be a further GANOF MLLONS INBANK DEOSIT District Institutions Show 3 Big Inerease Over Call of September 14. Recelved by Private ‘Wirc! Direct to The Star Ofice: (Bales are {n $1.000.) [ RAILROADS. UNITED STATES BONDS. s ‘Bales. High. (Fractions represent t| . seconds, [ Atchison gen 4s Example: 98-3 means Grain, Produce and } Atchison adj Kansas & Gulf. Alaska Gold. Kansas City 8. Qeclines Due to Short Sell- ing and Taking of Paper Profits. Lib it 8. . Lib 24 CK“ FOREIGN. Sales. High. lomv o LOCAL MARKET:g TODAY’S . v Southern Railway Prominent on {Am Chicle Co. R ]:m Cot O ctts Business Outlook — Merchants’ 1T Buying Side. Bank Elects Officers for Coming Year. Eggs—Strictly fresn, selected, can- dled, per dozen, 45 o celpt: [« torage, 35 o o AVEIAES FecaDI. & I'? poultry—Roosters, per 1b., 1! urkeys, per ib., 30a32; spring chick- ens, per 1b., 28a30; keats, young, each, 60a70; fowl: 27a28." - 3 Dréssed 3. chickens, 'per per 1b.." 30u32 urkeys, per Ib., 35a40:° keats. youns, each. ¥0a85; roosters, per Ib, 20. Game—Rabb; 1, per 3.00a3.60; No. 2, 1.25al.5 50% 50% | Live stock—Calves, choice, per Ib, B0 50% |12%; medium, per Ib., 11; thin, per T 55% 55% | 8810. Lambs, spring, per Ib., 13. Live Pig®, 3.0045.00 cach; iive hogs, per 1b., Central Pacific 4s. 19 : {Am H & Leath. . 1] Ches & Ohio cv {Am H& Lea of.. !::gg;uh"' . Amicepf. 1 . Such”de- | At Internac MskmaCon BY STUART P, WE! “Special Dispateh to The § NEW YORK, 89 8 88% 88% 841, 84% 2% 33% 86 86 9T% 9% % Controller of the Currency Henry M. Dawes today called on all local banking Institutions, and all national banks of the country, for statement of condition as of the close of buei- néss, December 31. In Washington bank deposits will show an increage over the previous call, dated September 14, 1923, of sev- eral million dollars, & preliminary canvass of most of the larger fnsti- tutions show. Riggs National Bank, thus far, is the leader in showing gatns, an in- 1'31;9“50 of approximately $1,400,000 being re; v : The ‘Amarican “Securiey” ons “roas; “ompauy has gained $723,417, and the Commercial National ‘about $420,000. The Washingt e gton Loan and Trust $401,97 Chi B&Q 1st rf bs. Chi&Elllgn5 Chi Great West 4s. C M & Puget 8d 4 Chi M&StPrf 4% Chi M&St P cv bs Chi M&St P 4825 Ohi M&S P cv 4% Chi M&St P 4s '34 CM&sSt Pgn 4% CM&St. Pdb ds. dozen, Boobbemnlos ! M‘fl Low. ¢! : \ Adams Wxpress. 1% 0% 6% January Reinvestment Demand ;) Adv Rumley., 12% 12% 12% ' Jowel Tea. AL AL « Rer : 5::: o t"‘: '."::, Partial Factor in Major %o % M Activi ; led Ch T g i em.... 70% decrease. Allied Chem pf.. 110% 110% 110% . i . L L nieptices certainly will not go_any b | higher,” a dealer remarked. “They i:Zfi'cg?-'.":{' . » bt 85K, 85% 85% u. - are too plentiful.” 1 e AR 3 Ickens and fowls are not &0 B P Liberties and Othér High-Grade plentiful and prices are higher. - : ny storage eggs on { Am Brake Shoe. Issues Hold Firm hand and dealers are pushing them. EXCHANGE IS IMPROVING | AmCsn: . 3% | Lee T & Rubber ¢ <1 The price dropped from 30 to 28 | Am Canpf. ) oot Ll o . f % cents. Fresh eggs are plentiful 4 3 | Am Car & Fay. 3 s oy.. & 3 96% 2 enough to supply demands, today's e el A ! o BY GEORGE T. HUGHES. 112 112%|Brices being quoted at 44 and 45 Special Dispatch to The Star, e NEW YORK, January 3.—Activity In today’s bond.market centered on the speculative issues, notably the tractions. ~ The Brooklyn Manhattan Transit 6s made & new high on the present move rnaci; L under fairiy heavy transactions. This cline as oecu *s stock | Am La France ,'n',’";';"gl*s"f:- advance is based upon the growing market was the reaction after the | :: tlnauu. Maracaibo 01, , conviction that under the reorganiza-. wave of optimism with which the [4T Locomotive. { Market St Ry.., tion earning power is ample to cover new year was ushered in. There Was|am Metal pf | Market &tprior. all fixed charges and leave & sub- further selling by persons who, for | Am Radiator, Varland Ol.... stantial surplus. Only the recollec- - Bow Copenhagen & Cuba blis ctf; Czechoslovakiu §s, ¥ 4 tax reasons, had waited until 1924 to | Am Safe Razar. J:i'.','én"fl',’ tion of the receivership serves to de- take their profits. Also, there was| :m Ehlvm:om. Maxwell (B) ter investors, and this factor 1s likely some sentiment in trading c(rclesiA: -s:::::""l- May Dp Store: to be of diminishing importance. that the market had gone up Drac- |‘am stee 1o Vex Seaboard. . The Market Street Rallway first 58 tically continuously through Decem- | Am St] Fd p, Vex Seand ctis. were also very-firm, apparently fore: Ber” and, on. technical grounds: was i & Miami Copper.. casting successful refunding next # s on technical gronnds; Wk i2h SUERL, Middle St Of} September or a satisfactory outcome due for a moderate setback. These in- | Am Sumatra.... Midvale Steel. .. of negotiations with the city of San fluences counted more than anything | AT Tel & Teleg. 1 g Francisco for the taking over of the else in the business of the day. g 145% 14% | 89 894 4% 14 125 12% 224 22% 6% | 28% 28% ) per Dbasket, Green fruits—Apple 2.00; Cal 50a2.00; per barrel, fornla ‘oranges, per crate, Florida, *3.50a4.50. Lemons, 3.50a4,50, Grapefruit, 3.00a4.00. berries, 5.00a5.50 per ome-half barrei. urapes, California Emperos, 1.50a2.50. 8% 173% | Vegelables—Potatoes, nearby, per 7™% 7% |bbL. No. 1, 2.25a2.50; 1.00 91 91 4 Potatoes, round, i 115% 115% : sweet potatoes, 5.00a8.50 per 10 ) 101y | DPL Southern lettuce, per crate, 1.00a: 1 4 { Iceberg, 3.00a: Cabbage, nokther 951 95% | 1.50a2.60 per 100 1bs.; nearby, 1.00a 102 102 |1 Tomatoes, Fiorida, 3.00al 80% 80% 2.00a3. 82 824 97 98 T4 67% 39% 39% 84% 85 61% 61% 104% 104% wedmes @ 105% _105% 74 74 @ = @ e Err - BoalAlBaanalanbime " Minn & S* 1., “ Am Tobacco.... 1 ¢ property. Selling at 95, however, the Am Tobac (B) Yo Kana Te discount looks large for a bond with . {Am Tob pt (n).. lfllh'-“";“;‘“ » only eight monthsyto run. Ao Warer ks Mo Pactflc p | Some DoAds Heavy. - pe. o 3 Speculative industrials were irregu- Am Woolen. . .. ontey Ward. lar, with heaviness in American AgTi- jeultural 71,8 and higher prices for American_Cotton Oll 6s, while the Virginia-Carolina lssues held most of their recent gains. Cuba Cane Sugar and convertible 7s were both well hought and both made new highs on the present move. Cerro de Pasco 8s went_up with the stock. Among the rails exas and Mexico 58 v highe while the 5i N liens were fairly steady. s NOr Tex & Mex. mo: Uitticult to discern the effect N Y Afr Rrake. . of investment demand upon the mid- NY Air Brk (A). 7 die and second grade bonds such as \Y Central. i 10214 102% | St. Louis and San Franclsco prior S 77 7 s, and Utah Lighi pade il S AR All throe issies named. however, = VY ¢ s 7 showed a good tone. 584 NY O & Westrn. 17 o x 69 §Norfolk South.. 14% Horelgn Group Steady. 88 i Norf & Western. 102 1024 About all that could be'sald of the 15% | North Amer. 224 224 lux:\-‘firadc s-fl:\-‘r‘-d bu,‘{&" b.a:gl-. Ree North Am pf. 44 44 [tha were steady. The gk e U 50% B51% | true of libertys. In general it may be b4% 3 said that anything vielding from 53 24" | Ohio Fuel Sup. . 82% 324 | to 6 per cent was in good demand. Oklahnma Prod. . In the foreign group the steadiness 9L, |Onyx Hosiery.... in the French bonds was again notice- * | Orpheum Cireuit. able, notwithstanding the new slump 40 1 otis-Elevator. in franc exchange. On the other 112% | 5oys Steet = hand. United Kingdom Gis of 1937 " e g while rallying from Wednesday’s ex- OwehyiBottls treme low, continued heavy. - 121 | Pacific Mail 69% | Pac Gas & Elec. N 1. 1 |PacifeOtl. ..o Washington Stock Exchange. 104% 104 104% [ Packard Motor. ‘. SALES. 247 24 24 |Packard Mot pf. r S 5 5 |Pan-Am Pete Wastington Gas 6s ‘338300 at 1001, $100 16% 15% 16 |Pan-Am P (B). pital Traction 55—$500 at 19719 19 |Panhandle... esapeake und Potomac Tel. 55—$1.000 at oy, | Partish & Bing. 00, $1,000 at 96, $1.000 at 90, §1.000 at 96, L2 T e evivania, 1,000 . $1.000 at 96%. $1.000 at 96%. | Anaconda cv db 7s. 57 - —2 at $ok. 26% s lec. com.—3 at 70, | ADaconda 1s:6s... 97 100 hh Armour & Co 4%s. Lol hiukton, R, & {410 at 734, | Armour of Del 5% 27 10 a : 10 4L TR, 105 Tk, ot ) 10 'ac 74, | AZ%0 by 10 at 74, 7 at 74, 10 at BJ‘";‘JP:M oy 147% 101 French Govt 73 Haiti 6s..... italy 6%s 1925 Japanese 1st 4 % Japanese 2d 4%s. . Jergen U M 6s°'47.. Lyon 6s Marsetlle 6 Mexico bs. Southern Railway Strong, The losses, however, were for the most part unimportant and were fairly weil balanced by gains in spe- clal issues. Southern Rallway stood | out cohspicuously on the buying side, especially in view of the uncertain action of other rails. The street feels sure that if Congress does nothing to hurt the carriers Southern Railw common will. go on & dividend some time this vear, more likely in the spring. The road is expected to show between 9 and 10 per cent carned for 1923. The stock was sell- iug today at the highest prices since 1906. shows an increase of the Liberty National, $209,- the Unlon Trust Company $120,000; Security Savings and Com- reial, $68,832; Columbia National. Colo & Sou 438 CubaRR5s Del & Hudson 53%s. Den & Rio G cn 4s. RN ANN BEaNE RO Beans, southern, per basket, Peas, ‘per basket, 1.50a2.50. celery, per crate, washed, 5.50a8.00; in rough, New York, 2.50a4.00; California, 6.0026.50. Squash, 2.50a3.00. Peppers, per | $56.210; the Franklin Natiopal Bank. crate. Flotida, 2.50a3.50, ggpiant, | $34,673] the Bank of Commerce wmi 4.00a5.00. Kale, per 00a1.75. | Savings, $104,984, and the Farmers Spinach, per bbl, 2.50a3.50, Southern {and Mechanics', $2,707. cucumbers, per bushel, 4.50a5.00. C: Offsetting thgse gains are losses of rots, 100-1b. sack, 2.25a2.50. Brus: about $300,000" reported by the Na- sprouts, 15a25, tional Metropolitan, $15: v GRAIN AND PROVISIONS. BALTIMORE, January 3 (Speclal Potatoes, white, 100 Ibs., 1.00a1.90; 15 50a3.00; sweets and yams, Munsingwear. Anaconda...... Arnold Constab Asso D Goods. ... Assoctated Otl. Atchison Atlan Ci Atlantic Fruit Atl Fruit stfs. .. Atlantic Guif. . At] Gulf pt. Atlantic Ref. Atlas Tack. Austin Nichols Auto Knitter. Baldwin Loc Netheriands 6s Norway 8: Norway 6s 1943. Norway 65 1952. Orlent Dev deb Parls-Ly’s-Med Prague T%s. ve | Erte st c Erle con ext 7s. Erle gends . ErleconvisA. Erie conv 4s B. Erie conv4sD.... Gr Trunk sf db 6s Grand Trunk 7s Gr North gen 7s Yew _Orleans, Yt Lead. e fractional Nevada Copper. i District National, $143,715 hb)' the Federal-American National, and $102 385 by the Potomac Savings banks. should be explained that these 1o, are only temporary and indicat nothing “detrimental to the banks standing. Bank deposits of large institutions vary greatly from day to day, and in moSt cases where losses are shown the call for statement was “badly timed” for the reporting institution. Then, too, outlying banks have paid out large sums during the past month 1 _Christmas_ Club _disbursement. While the most of this money is spent in meeting Yuletide requirements and a part then redeposited by merchants, the outlying banks do not profit to any great extent, inasmuch as the redeposits are made in downtown in- . s‘ulul(nn In these cases Christmas Club payments mean a flat and defi- nite withdrawal of funds. On the other hand, only a part of Christmas savings club money finds its way back into local institutions Huge stocks of merchandise are, of course, carried at this time of year, necessitating the expenditure of ab- normal amounts of money. plained that much club mone; s way into other cities in th January Business Outlook “The year closed with domestic busi- ness conditions generally satisfactory and on the whole reassuring, At during which the main inclination was_downward It was noticeable that Baldwin Loco- motive and other equipment shares were under rather more pressure than the rest. Baldwin came down in less than an hour front Wednesday's close of 124% fo 123. The street was pay- ing more attention to the effect that the reduced program of raflway ex- penditure for equipment this will have upon the earnings of these companies. Pool in Fruit Active. Atlantic Gulf and West Indies ap- peared to have got over-the selling of the previous day. The pool in Cuyaemel Fruit resumed operations, and there was quite a demand for a time for Mpntgomery Ward and ‘Sears-Roebuck. Montgomery Ward owes about $4,000,000 for accumulated dividends on the “A" stock, and the fmpression s that something will be done before long toward clearing up this obligation. Oil stocks once more behaved in a manner to indicate that they had discounted for the present’ the good news about: the oll trada Thdy paid no attention to this morning’s announcement that gasoline prices had been advanced a cent a gallon in Ohio. or the decrease reported in the weekly: figures of crude pro- duction. Philadelphia Company common's tendency to lag by comparison with other public utility issues, has been, connected by some with the com- pany's earnings position. Net in- come was less, for instance, in Octo- ber than in October 192 November there was a improvement and it is expected that the report for December will be still hetter. Philadelphia Company for 1 according to latest estimates, earned approximately $10 per share, or 20 per cent, on the $50 par com- mon. the periods | 103% 103% A 112 112 106% 106% 964 96% 80% 814 58% 68% 100% 100% Queensland 7 Queensland 6s el Rio de Jan 124% Rio de Jan 59% 122% it sprouts, quart, 2! ket, 1.25a1.50; savoy, rots, 100, 4.00a5.00; cauliflower, “bb] Seine Dept ot 7 celery, crate Serbs Croats Slo 83 Solssons 6s. . Swiss Confed 8s... Tokio bs. . 15 Ud Kingm 5%s'29. 3 Ud Kingm 5%s'37. 86 Ud Steam Copen 6s 1 MISCELLANEOUS. 87% Barnesdall (A). Rarnesdall (B) . | Bayuk Bro: | Beechnut Pack. Beth Steel. . . Beth Stl 7%(n). Booth Fish. .. Booth F 1st pf Bxlyn Kdison. . Brklyn-Man Tr. Brkin-Man T pf. Bklyn Un Gas. . Brown Shoe. ... Brunswk Term. Burns Bros (A). Burns Bros (B). Butte Copper. Butte & Super Butterick. Caddo Oll. Calif Petrol. Callf Petroi pf.. Callaban Zinc. . Case Threshing. Centrai Leataa. Cent Leath pf... ip o Chamater at 6 8 5% | Pterce-Arrow. cn:;'-p & Ohlo 3 T1% ;'lerco :r vl‘. . Ches & Ohio pf... 99% 94k | Etros AR prtor, Chig B b Pitts Coul pi. Chi Grt West... Pitl:lflk Vl‘pt . W pf. ChiMmasts Fostum Ceranl... pt 'ostum Cer pf.. SN Pressed St1 Car. Chis Nomee. Bressed St Cpt. ChiRI& Pac... Ch R1& P 6% pt Chi R 1&P 7%pf. ChiStPM&O Chile Copper. ... Chino Copper. - . Cluett Peabod: Coca-Cola. Colo Fuel. .. Colo & South Columbia Ga Columbn Carbon Com Solv (B)... 34% 841 344 Comp Tabulat.. 92% 93% 924 Congoleum Co... 46% 47% 46% Cons Cigar..... 18% 20% 18h Cons Cigar pf... 69% 79% 694 Cons Gas of NY. béx 5::: hé‘!: ns Textile. ... i Cont can 57% 67% 66%| Continental Mot 7% 7% _Th crate, 3.00a4. onions, 100 ., 1.75a2. oyster plants, 100, 6.00a7.00; parsnips, ket, 45a5. 40 40 113% 111% 14h 14 494 d8% T122' 0 119% 49% 49% 102% 102% o 8975 89% 106% 106% Louis & N 55 2003. . 2 08 vs‘: 431" 43% 10 10 91 91 481 480 12% 48% A apples,’ 1.50a2.25; cranberries, 6.00a8.00; grapefruit, box, oranges, box, 2.00a4.00; pineapple: 5613 B8l | crate, 3.00a5.00; strawberries 4 95 95% Selling Prices on Grain. 8014 80% g 2 red winter, spot, 101% 101% | 1.08 3 red winter, spot, 1o quo- winter, garlicky, 1.03; export, no qu tation; No. 3 red winter, garlicky, spot. no quotatio . 4. red winter, . no quotation. Am Chain s f 8s5'33. Am Cotton Oll 5s.. 39 Am SmIt&R 1st 5. 12 B Am SmIt&R 6s. Manhat Ry en 4s. at 2% 264 100 1 b 3.75a3.85 for yel- {low and 365a3.70 per barrel for | white; No. 2 corn, spot, 45%; No. 3 corn, tiack vellow corn, yellow, No. 18% 8914 981 | M 887 | Ne .7 Or Term 4s. 96y | N O Tex & M in % 1 97% 93% {has been well maintained. The secyri- ties markets have been showing decided strength, but meanwhile the produce markets have considerable uneasiness. The holiday trade has been reasonably good—quite up to that of last year, for the country as a whole. There is, to be sure, a ceasonable quictness in the Soft coal, coke, pig iron and steel trades, but the prospeects for the new year are en- couraging. On_the whole the domestic outlook for the first haif of 142 said to be for somewhat ness than in the last half of 1923, though mot up to the high level attained i in the early months of last year." 22.00a23.00- No.| Following a review of economl Jo. 1 |gonditions of the past year, pros- Northern . pects for 1024 are considered, n part Northn Pacr 1 6s. 1 stra rye, 24.00a | s, follow! Northorn Pac st D b X 2 e red ae | In considering the basic factors Ore Bhott L ref 4s v et ©21406; | Which will influence the situation iu Ore-Wash 1st rf 48 1 oats, 14.00a15.00. ARaRso e sy diamiek REidNcs why 8% B e prefiensjons over the banking and - credit situation. ur financial status il s el R Was never sounder than at the pres- January 3 (Special).|ent time. The reserve position of -Live poultry—Turkeys, pound., 20a{the banks is extremely strong and 30; young chickens, 20a27; Leghorns, | there is no possibility of a shortage of hens, 20a27; Leghorns. 20a | funds at reasonable rates for any roosters, 16; ducks, 20a27;|legitimate requirements. If banking 22a28; pigeons, pair, 25a40i|and credit conditions were the only guinea fowl, each, 36a65. factors to be considered, we should Dressed poultry—Turkeys, pound, | have occasion for rejoicing. 20a32; chickens, 25a28; old Toosters, Aeading eniiecal Exchange. 16a17; ducks, 25a30; geese, 24a30. > . el e Preferred stock of the Washingtor Eggs. loss’ off, native and nearby | p freferred Stock of the Washinglon ne. . white, 54; No. 3, white, 103% 103% 89% 89% 95% 95% 813 72 t 1 . % l‘nw‘l’-\n Monotype—S8 at 72, 2 at 72 - Capital Traction—10 at 5. ‘ashington Rwy. & Elec_ 45—$1,000 at 70%5. Elec. cons. 55—$1,000 at 97, $1,000 ctrie 1st 55—81,000 at 973 €72 S and @ per cent. BONDS. Bid and Asked Prices. PUBLIC UTILITIES. 75a85; No. 2 rve, Bklyn Edison 7s D. Bkiyn Ed gen 5s. ... Bush T Bldg 53°60. Calif Pete 6343 w i. Cerro de Pasco 8s.. 26 Chile Copper 6: 10 Cemmonwth P 6s.. Con Coal Md 1st és. Cuban-Am Sug 8s. Cuba.Gane cv d 8s. Cuba Cane cv 78 '30 Dery (D G) Y Centcn 4s N Y Cen LScl3% New Haven ¢ d 6s. 140 | New Haven 7s. 991 | New Haven 7s f 874 | New York Ry aj 53 873 | N Y State Ry 4%s. % |N Y W & Bos 434s. Norfolk & W cn 4s. Norfolk & W cv 6s. Chnietbing Hay—Receipts, 107 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 dewcription there is a fairly good demand at market quotations. Quotations—No. 1 2i No. 2 . Tire Stocks More Aetive. What interest has been shown in the rubber and tire shares has been based upon the assumption that the situation in this industry has been relieved of its depressing Influence and that the most likely development is an Increase in tire prices. On the other hand, poor 1923 reports from most companies are looked for. If the demand by automobile manufac- turers keeps up through the second quarter it will be distinctly helpful to the tiremakers. Again today the important devel- opments were in the foreign exchange rather than in the security markets. Rates rallied later in the day, but not until sterling had sold at $4.26% and francs 4.28 cents, Sterling at its low figure was off § cents in the pound within the week— & sufficiently startling decline even in these times, when the financial com- 4 4315 1213 121% 2. 24.50a25.00; 56% b6% | . 23% 106 |4 11% 76% A 28% 284 8 18% 19 18% 3% 8% 1% T 1Thw 6% 264 264 25 Pure Ofl American Tel. & Telga. 71% | Rallway Stl Sp : 106 1% 6% " & P. Telephone of Capital Traction R. City & Suburban Georgetown Gas 1st Bs. Metropolitan R. B. Ss. Potomac Electric ist o 51% | Reading 24 pf. 83% | Remington 93% | Replogle St 103% 101% | Pennsyl con 4% Peoria & E inc 4s % FReading gen 4s Rio G West cl 4s. RIATK &L 4% St L IM&SR&G StLIM&S 4529 627 | Rossia Insur. &% | Royal buteh. 564 | Rutland Ry pf. 7% | 5t L&San Fran.. 1563 157 156% 155% hington Gas_6e. Int Mer Marine 65. firsts, dozen, 42; southern, 40. munity Is accustomed to violent fluc- tuations in the exchanges. It was selling below anything touched last vear and was back over all the Rround gafmed since the late winter of 1922 The current quotation on francs compared with 7.40 cents a vear ago. It represented a shrinkage of 34 per cent in the value of the French currency unit since the entry into the Ruhr. Southern Helps Other Ralls, The remarkable rise in Southern Railway at length made its effect felt in other rails. The Seaboard Alr Lines were drawn along, and s6 were other low-priced issues, like Texas and Pa- cific, New Haven and Wabash A. Northern Pacific and Chicago and North Western rallied after having been depressed at the start. Central Leather preferred had a very sharp jump in the last hour across 40. Steels and equipments continued heavy, while the rail lead- ers and the public utilities were’at their best. CLOSE IS IRREGULAR. Baldwin Sold Heavily During Closing Hour. " By the Associated Press, NEW YORK, January 3.—Buying of stock on favbrable trade news, which in- cluded anothér reduction in_crude oil output and higher prices for pig iron and gasoline, was counteracted in to- day's etock market, by a resumption of profit taking in stocks purchased late last year and short selling of specula- tive issues, particularly Davison Chemi- cal. Sales approximated 900,000 shares, The closing was irregular. Renewed selling of Baldwin, the Pan-American jssues and Davison Chemical in the late dealings was counteracted by the strength of Central Leather preferred, Columbia Carbon, Stewart Warner and Consolidated Gas, ali up 2 to @ points. —_— FOREIGN EXCHANGE, Corn Products. . . 120% 120% 120% Cuba Cane Sug Cuba Cane S pt. Cuban Dom’can. Cuban Dom pf.. Cuyamel Fruit.. Davison Chem. Deere Copf..... D Lack & West. Dome Mines. Dupont (ED). Eastman Kodak EatonAxle &5p. Elec Stor Bat... Emerson Brant. Endicott-John. Endicott-J pf. Famous Players Famous Play pf. | Fidsines &5 pr. Fitth Ave Bu: Fisk Rubber. . Fisher Body Fleishman Foundation Co.. Freeport Texas. Gen Aspbait. ... Gen Asphalt pf. Gen Cigar. Gen Cigar deb Gen Electric Gen Elecspl. . Gen Motors. Gen Mot 8% deb. Gen Mot 7% deb. Gen Refractories. Goldwin Corp. .. ’Gen Baking..... Gulf M & Nor pf. .1 62 35% 856% 66% 66% 3% 3% 16% 16% 62% 7 7 47 47 1 4% 6714 6T% 64 12 19% 19% 132% 183% 108% 108% 23 23 60 1% 26% 26% 69% 0% 790 90 48 43 9% 9% 8% 8l 167 168 44% 44y 68% 684 12% 12% 10 2 94 94 961 96% 108 106 405 40% 16% 16% 34% 66% 834% 14% 61% 6% 47 W71 62% 64 19% 130% 108% - 2% 60 1% 25% 69% 90 ! 42% Y3y 8% 167 3t L&San Fr pf. Savage Arm 33 { schulte Stores. 15 | Seaboard Alr L. Oie | Seabd A Lipt. 621 | Simmons. ... 64 | Simms Petrol 112 |Sinclairoinl 19% | Skelly Of1 - 13044 | Sloas-ShefMeld. . 108y | So Porto Sugar. South Pacific. .. Southérn Rwy. . Southera Ry pf. 1% | Spicer Mtg Co. 8% | Superior Oll. ... Sweets Coof A.. 44y . 684 12% 39% 1% 94 96% 106 193% 10% 39% 16% 2% | Tex Gult Sulph. 39% | Texas & Pacific. 71% | Tex & PC & Oil. 194 | Tobacco Prod... 11 | Tobacco Prod A. 14% | Trans Cont Oil.. Unlon Pacific. 8% | Unfon Pad pt.... 15%, 88% 64 17% %% 128 wy. & Elec. 4s. R Healty 5% (sbort). Mkt. Cold Storage 8. dman Park Hotel 0s.. STOCKS. PUBLIC UTILITY. American Tel. & Telg: <5 i Commer | District mers & Mechanics’. % | Federal-American 11% 11% 205 2% 2% 2% % 9% 43% 43% 62 % 4% 45 40 40 61% 63 % 128% 1% 1% 8 82 207 207 81% B81% 20% 21% 10 10 6% 374 70 n Liberty a Nitional ‘Bank of ‘Was TRUST COMPANY. American’ Security & Trust { Continental Trust Merchants Bank Natlousl Savings aud Trust. Tnion, Trust ... Washington Loa 2 SAVINGS BANK, 230 310 90 American Firemen' National Union. TITLE INSURANCE. Columbia Title.... Real Estate Title. MISCELLANEQUS, D. C. Paper pfd. Merchants' Transfer & Storage 108 Mergenthaler Linotype. 014 Dutch Market com. 0ld Duteh Market ped. Lanston Monotype. Int Paper1st 5s A. Int Paper 1st 58 B. KCP&Ltbs A52. 4 Kayser (J) 7 Kelly-Spring Liggett & Myrs 7s. Liggett & Myrs bs. Mariand OLl T%s. . Marland Oil 88’31, Nor States Pow 5s. Nor States Pow 6s. Northwst B Te 7s. . Otis Steel 8; | Bactfie Gas & Bl 53 Pac Tel & Tel 5s... Pan+Am Pete 7s... Pan-Am Pete 6143, Public Service Sharon StLH 8 Sinclair Ol 7s.. . Sinclair Ofl 634 .. Sin Crude Ol 543, StL&SFpldsA StL&SF prin5s. StL&SF inc Sou Pacific 451929 s | Sou Pacfio ret 4s. 91% 91 102% 920 99% %6 106% 8% 100 9% 10 1 94 85 106% | was a renewal of liquidation in the 023 | cotton market at the opening today 88% | owing to the continued weakness of Southern Ry 1st 63 Southern Ry gn 4 Southern Ry 6%s. Southern Ry Union Pac 1st Union Pac 1sf Union Pac 1st rf Virginia Ry 1st VaRy &P 1 Weat Shore Lst 4s. Whel &LE rf 4%s. TOTAL SALES (Mar Value): 1lam.. 8321000 12noon 5 096000 1pm.. 7166000 2p.m.. AR mnoaE Y 2 Brfnanna $Ean B 2| FURTHER SELLING _ |* IN COTTON MARKET % 69% 694 % 1013 101% 96% 9614 8043000 . 3.—There Butter— creamery good to fancy, pound, 51as6; prints, 56a38; nearby creamery, 42a46; ladles, 34a35; rolls, 28a32; storepacked, 26a! dairy prints, 28a32; process butter, 3. TODAY’'S CHICAGO PRICES. CHICAGO, January 3.—In _the absence of any special demand wheat tonded downward in price today during the first part of the board of trade session. An advance in wheat quotations at Liverpool had no effect here, being offset by weakness of ex- cthange rates to Europe. With pri- mary recelpts continuing . small, however, and severe cold weather prevailing in _the domestio winter crop belt, no disposition in faver of aggressive selling was evident. Open- ing prices varied from the same as vesterday's finish to 3 cent lower. May. 107% to 107%, and July, 1061, were foliowed by slight de- clines all around. Corn and oats were relatively firm. The fact that receipts were light was the chief sustaining influence. - No important curtailment of buying was expected tb result from the Pekin explosion. After opening unchanged to % cent higher, May 73% to 73%. corn held near to initial quotations, Dats sl‘aar!,‘ed uncahslnged to % cent off. May to 43% and later a trifie more. e Provisions were weak as a re of a decline in hog values = oot HE. Open. High, L 107% 1.01% . 108 1.06¢ Vi CHICAGO LIVE STOCK CHICAGO, January 3 (Unit L Department of AgTicultare) oo ses tinued its upward jaunt on the local board today, sales of 169 shares re- sulting in an advance of haif a point to a new recent high at 74. The issue was strong at the close, with 74 bld and 7434 asked. Raflway common sold to the extent of fifteen shares at 70 and 70%, with Lanston firm at Capital Traction sold at 95% and 95, the trend being lower. Bond trading was well diversified, with little change in prices. ’ Bank Officers Elected, The 'annual meeting of the stock- holders of the Merchants Bank and Trust Company yesterday resulted in the re-elec of the directors as follows: Allen, Ray H. Bolling, “Harry R! Walter Carter, Peter Peter A. Drury, Frank P. Harman, Frank P. Harman, jr., Mich- ael J. ne, R._C. Marshall, jr., J. Ernest Mitchell, Frank O'Hara, Edwin W, Popkins, Roland S. Robbins, L. E. Schreiner, J. L. Sherwood. Eugene A. Smith, A C. Waller, William Henry White and John Zanier. The directors immediately re-elect- ed the following officer: Peter A Drury, president; Rolfe E. Bolling, first vice president; L. E. Schreiner, 3 °L. Sherwood and Frank P. Har- man, jr., vice presidents; William Henry White, secretary; Bdwin W. Popkins, treasurer; Frank E. Ghiselli, WPG Baden, Henry S. Wattles and E. J. Emrich, assistant treasurers; J. D. ‘Beveridge, manager, foreign de- partment;- B. Ashby Leavell, assist- P trust officer, and Wade H. Ellis, counsel. 'SENATE RESUMES BATTLE OF BALLOTS - Smith Leads on 26th With Cum- mins Close Second and Couzens Third. M. Dorsch. Becurity 8 86% 86% LY o Markat. -,lz'“‘r Liverpool knd reports: that yester- 33, 33 | Yellow Cab. : 105" | day’s Break in raw cotton had check- s o | + *Ex-aividend. 108%|ed the demand for cotton goods. 98 98 10034 100% |- Feean mv AW, 11 107% | First prices were easy at a decline Caruso otrola records v ( 36 points, wi 100 100% |, Caruse’s, Vietrols Fronins. ] 1 of 5 to 36 points, with March selling - 9T% 2 874 86% Receipts, 63,000; slow; mostl 15 lowes heavy-weight butchers, 7.30a7.4f better grades, 200 to 2! pound averages mostly, 7.154’ lsflkllo 190 pound :\'ren;gs. 00a7.10. packing sows, 0a6.75; weighty slaughter pigs, 8.25a6.50. . Cattle—Recelpts, 17,000; moderately active; beef steers, yearlings and heifers, 10 to 15 lower; choice year- 12.25; best matured _steers, short-fed steers, 8.50a.75; can- s, 2.75a2.85; heavy bologna bulls, 5.26; beef bulls, 5.5026.50; veal calves up 'to 1400; stockers gnd feeders scarce. R Sheep—Recelipts, “ 23,000; By thé Associated Press. NEW YORK, January 3.—Foreign ex- change irregular. Quotations (in United “States dollars), Great Britain, demand, 4.20% ; cables, 4.29% ; sixty-day bills banks, 4.27. France, démand, P : cables, .0490. Italy, demand, | Househ'd Prod.. cables, .0438%. Belgium, demand,-| Houston Oll. ... cables, .0436. Germany, de- | Hudson Moto 0000000000020 ; _cables, Hupp Motors. 0. Holland, demand, Hupp rights ‘3775, Norway, demand, Hydraulic St1. 3535, Denmario 1744 3 a, #1721, Spain, 1375, Iliinots Central. Poland, .. . Czechosl lo- | ind Ol1 & Gas. , 0290, Jugoslavia, .0113. Austria, | Indiahoma..... .000014. -Rumania, .0054%. Argen 4. tina, | IndlanMotorcycle .3187. Brazil, .0975. Montreal, .97 17-32. | [ndian Reflning. n. pieEeE emical. Int Agr Corp r:'.) —_— The contest over the chairmanship® of the Senate interstate commerce committee was resumed in the Senafe Gulr St Steel.... Harbishaw Cab. on 048s% 96% | off to 34.37 and July to 33.60. Some - trade buying was reported at these figures, presumably to fix prices, how- ever, while liquidation was less active than it was yesterday, and the mar- ket steadied up some 30 to 40 points from the lowest during the early Private cables sald the de- lue to general selling, inspired by unsettled political conditions and a poor trade 2. r lc(:i by the democrats, al Couzens of Michigan, supported by the progressive groups of republicans. and the two farmer-labor senators. Were balloted for. On the first ballot, which is the twenty-sixth taken in this contest, seventy Senators voted, with thirty steady; fut lambs, 13.25813. Six as the number of Votes necessary welght ewes, 8.00. for an election. Senator Cummins re- ceived 28 votes, Senator Couzens, 1 E and Senator Smith, 31. no election v DIVIDENDS. Sulting. The Senate then proceeded Pas- Stockof | to ballot again. able. e Feb. 1 Ji 2 & West Alr Brke. . 98% 9814 | Westhse EI&M. . || Wheeling&L B\ ! Wheel & LE pf.. 233 Too many people put ‘tHeir money in day’ drépms and wake up broke. Never ;ctls" andy- rope, a poor (Quotations furnished by Nedmond & Co.) ess of for- BUTTER PRICES HIGHER. CMICAGO, January' 3.—Butter high- er; receipts, 6,964 tubs; creamery ex- 43 ; Standards, 51; extra firats, 53 firnta, 45 %41 ; seconds, 43a4 Eggs—Recelpts, 7, cases ; stead, L ‘ordinary’ firsts, 30a39; re bt (rlnrll:fir “exu'u. 26%; refriges a an. 10 Jan. 13 . 11 b, 8 =g§g§23*3=§ s and cau on the short side. At the end of the first half hour of business prices were 9 to 16 points higher than the last jes of yesterday. After trading oft % BasEs 4 Intl Paper. 'Intl Paper (sta) Invincible Tron Products. ., ,.. o TSR R HOURLY SALES 14.m.... 816 700 L $