Evening Star Newspaper, January 19, 1924, Page 20

‘20 PRIGESHOLD WELL - INSTOCK MARKET Low Money and Higher Oil . Prices Help Values—Iron ! Pipe Breaks 5 Points. NEW YORK, January 19.—Prospects ©of continued low rates for money, further advances in crude oll. prices and reports of an impending increase in the price of steel products tended to stabilize prices fairly well in to- day's brief session of the stock mar- ket, but there were periods of profit- taking and evidence of some short selling. United States Cast Iron Plpe broke § polnts from its early high figure and Davison Chemical, several of the motors and a few of the rub- bers also moved lower. Higher figures ruled for various equipment and the public utility shares. The closing was steady. Sales approximated 355,000 shares. LEADERS HARDLY CHANGE. Today's Movements Confined Largely to Specialties. BY STUART P. WEST. Epecial Dispateh to The §i NEW YORK, January 19.—Today's dealings on the stock exchange were for the most part on the side of advance, although the movement was orderly, and even in the more active specialties the gains were only mod- erate. The usual market leaders were scarcely changed. This was true of such stocks as United States Steel common, Baldwin Locomotive, Stude- baker and American Can. However, shares of the electric companies, the public utilities, the sugar companies and some of the oils were in demand. General Electric was bld up to its highest for the present movement and Westinghouse followed along Consolidated Gas and Columbia Gas went ahead on the prospect of very favorable earnings statements. Other public utility issues were not espe- clally active. PHillips Petrolenm Brenks. The break In_Phillips Petroleum, which resulted from the announce- ment of additional stock ut share, had an unsettling effect upon some of the oll shares. Phillips it- self declined about 3 points from the recent high. The street had con- cluded that there was little likeli- hood of new financing for the time being on the part of the independent oll producers, and the Philllps inei- dent was quite unlooked for. The feature in this group was the up- bldding of such low-priced issues ae Transcontinental, Caddo, Superior Oil and Associated Ofl. Among the special moves the ad- vance in New York Air Brake to a new high was noteworthy. The sugars, particularly Cuban - American and Cuba Cane preferred, were bought for a time, although there was noth- ing fr y to influence the buying. Among the rails Wabash preferred A was one of the strong points in axpectations of dividends. Railroad Reports Denied. Rumors of dividends and absorption by other rail stems which have attended the recent advance in Pitts- burgh and West Virginia were spiked today by the chairman of the board of that company, and the result in the market was an immediate although unimportant decline In the stock. The official was quoted as saving that there was no prospect for the present of dividends on the common and that no other interests are negotiating for control of Pittsburgh and West Vir- ginia. The dividend outlook is de- pendent, he said, on an improvement. The foreign exchanges went lower @gain, French francs were off nearly @ quarter of a cent from the high of the midweek recovery. This decline| refiected continued misgivings as to | the success of the government pro- gram for fiscal reform, and it was all the more striking following the big vote in the Prench chamber {ndorsing the government in {ts Ruhr policy. A sharp break in Danish kroner came as 2 result of the lowering of official quotations on foreign currency at Copenhagen. ABSORBS TERMINAL BANK. Commercial National Takes Over Savings Institution. Permission was granted by both bodies, and rail operations have been discontinued, except on a stretch of approximately one and one-half miles of track in Maryland, where there i8 no roadway suitable for bus opera- tion. Recently a branch of this line ‘has been extended to Hyattsville. Terminal Bank Absorbed. The Terminal Commercial and Sav- ings Bank has been absorbed by the Commercial National Bank, which takes over the ussets and guarantees the deposit liabilities of the purchased institution. The Terminal will be Mquidated, and “anythng left will be dstributed _among its stockholders,” it was said by Commercial National Bank officers. Total resources of the absorbed in- mtitution amount to approximately $205,000. TIts deposit line totals about $170,000, and it is capitalized at 76,130. Today's Trading on Exchange. Mergenthaler Linotype advanced 4 voints on the Washington Stock Ex- change this morning, establishing a acv: high level of 158% for the pres- “nt movement. Twenty shares were 011 at this figure. Stocks _monopolized the session. Capital Traction was unchanged at 24% and Railway common advanced fractionally to 70%. Gas was firm at 48% and Riges held steady at 295. BUTTER AND EGG PRICES. CHICAGO, January 19.—Butter— Tnsettled; creamery extras, standards, 50; extra firsts, ; tirsts, 46%ad47%3; seconds, 44%adb5%. In the way of trade news| FINANCIAL. THE NEW YOFK STOCK EXCHANGE Recelved by Private Wire Direct te The Star Ofiice Adams Express. Alr Reduction. Ajax Rubber. Allled Che Allis Chalmers. . Am Agr Chem. Am Ag Chm pt. Am Bank Note. , Am Beet Sugpr. Am Bosch. Am Safe Rasor. . Am Ship & Com. Am Smelting. Am Steel Fdy. Am Sugar. Am Tobac (B) Open. High. 76 4% 10 71 49% 16% 43 102% 41 363 108% 1 Am W W 7% pf. Am Woolen. Am Woolen pt. Anaconda. .. Atchison. . Atchison pt. Atlan Bir & Atl. ~ 2% Atlan Cst Line Atlantic Frult Atlantic Gulf. Austin Nichols.. Baldwin Loco. Barnesdall (A). Barnesdal . Beechnut Pack. Bklyn Edison... Brklyn-Man Tr. Brkin-Man T pf. 1 Bklyn Un Gas. Brunswk Term. Burns Bros (B). Butte Copper Butte & Supe! Butterick. Caddo Ofl. $30 a|c Cent Leath pf. Cerro de Pasco. Chandler Mot... Chesap & Ohlo. Ches & Ohio pf. Chi & Alton. Chi & Alton pt. Chi& BT pf... Chi Great W pt. ChiMil& StP.. Chi Mil &St P pf Ch! & Northwa, Chi & Nwn pf. ChiR I & Pac, Chile Copper. Chino Copper. Cluett Peabody. Coca-Cola. Colo Fuel Colo & Sou Columbla Columbn Carbon Oom Solv (A)... Com Solv (B). Comp Tabulaf Congoleum Co. Cons Cigar. . Cons Cigar pf. Cons Gas of NY. Cons Textile. . Cont Can.... Continental Mot . Corn Products Corn Prod pf. Corn Prod(n: Cosden & Co Crucible Ste Cuban-Am Sug. Cuba Cane Sug. Cuba Cane 8 pf.. Cuban Dom’can. Cuban Dom pf.. Cuyamel Fruit. Davison Chem. . D Lack & West. Detrolt Edison. . Dugpont (EI) Duguesne 1st pf. Eastman Kodak Elec Stor Bat Elk Horn Coal.. Emerson Brant. Bndicott-John. . Endicott-J pf. Famous Players Fa Mines&S pf. Fifth Ave Bu Fisk Rubbe Flelshman. Gen Motors..... Gen Mot 6% deb. Gen Refractories. Gimbel Bros.... Gimbel Bros pf. 10 Glidden.... Goldwin Corp. Hudson Motors. Hydraulic8tl... Hydraulic St pf. Eggs higher, receipts, 5098 cases. Tirsts, 40; ordinary firsts, 35a37; re- frigerator extras, 24%a25; refrigera- tor firsts, 23%a24. N.Y. Stock and Bond Averages. Friday, January 18. STOCKS. Total stock sales, shares. Twenty industrials averaged 96.27; net loss, .16. High, 1923: 105.38; low, 85.76. Twenty railroads averaged 83.69; met gain, .06. High, 1923: 90.51; low, 79.53. 841,300 BONDS. Total bonds (par value), $12,293,000. n first-grade rails averaged 5; net loss, .17. Ten secondary ralls averaged 83.86; net loss, .10. Ten public utilities averaged 86.46; net loss, .19. Ten Industrials 94.27; net loss, .16. Combined average 87.89; net loes, .15. Combined average month ago, 36.74; year ago, $8.39. averaged 81% 54% 49% 0% 9% Illinois Central. 102% Ind Ol1 & Gas. Indiahoma. . Inspiration. Interb Rap Int Cement. In Combust 1Int Mer Marine, Int Nickel. . Intl Paper (sta) Invincible Oil... Iron Products.. Jewel Tea pf. Kansas & Gulf. Kansas City 8.. KEayser (Jullus) Kelly Spr Tire.. Kennecott. ... Keystone Tire.. Kinney GRpf. . % Lehigh Valley.. 69% 28 Lig & Myer! Lima Locomo. Market St prior. Marland Oil...., Marlin-Rockwl. k3 Low. Close. 75 85! 3 64 84 42% 1% 63 37% 12% % | ¢ Joseph Lead., 8 13% 104% % 9% 51 121% 39% 94 Mullins Body... Nash Motors. Natl Biscult pf. Natl DeptStores. NatlDeptSto pf. Nat! Enamel. . Nat Supply. Copper. x & Mex. N Y Alr Brake.. NY Afr Brk (A). N Y Central.... N ¥ C-Readg rts. NY Chi & StLpt. N Y Dock....... NYNH&Hartfd. Nort & Western. North Amer.... North Pacifio. .. Pac fic Develop. Pac Gas & Elec. Pere Mrq pr pt.. Philadelphia Co. PhilaCopf..... P&RC&I (wh). Phillp Morri, Phillips Pat Plerce-Arrow. .. Plerce Ar pf..... Pierce Ofl. Pierce Ol pf.... Pitts Utliities pf. Pitts & W Vi Postum Cereal.. Produc & Ref... Pub Service. . Pub Serv 7% pf. Pub Serv 8% pf. Pullman C0..... Ray Con Copper Reading. . . Reading rts. Reading 1st pf. Reading 2d pt. Remington. Remin 2d pt. Replogle Steel. . Rep Ir & Steel. . Reynolds Spr... Rey Tobao (B).. Royal Dutch. St L&8an Fran.. St L Southw! San Cecll Sug. .. Sears Roebuck. . Seneca Copper.. Shell Unfon..... Simmons. ... Simms Petrol... Sinclair Ofl..... Superior Oil. Texas Company, ‘Tex Quit Sulph. 8 & Pacific. Tobacco Prod.., ‘Tobaoco Prod A. Trans Cont Oil.. U B Hoffman M., U 8Indus Aloo. . U S Realty.. Vanadium Corp. Va-Car Chem. Va-C Chem (B! 16% 16% 18 13 88% 38% 26 26 16% 16% Westhse EI&M. . Westhae 1st pt.. Wheel & LE pt.. White Eag Oil White Ol White Ol ct! Wickwir Wilson Co. Willys-Overi Willys-Overl pi Woolworth. Wrigley, Jr. D — CRUDE OIL ADVANCED. Further Important Price Changes Announced at Pittsburgh. PITTSBURGH, Pa., January 19.— Crude ofl prices were advanced at the gbening of the market today as fol- Pennsylvania ‘grade, in New York transit company lines and Bradford district, 25 cents to $4 a barrel; Penn- sylvania grade, in National transit company lines, in southwest Pennsyl- vanla iines and In Eureka lines, 25 cents a barrel to $3.50; Cabell and Somerset medium, 15 cents to $1.15, and Ragland, 6 cents to 80 cents. The Gult Oll Corporation, from its general offices here, announced an in- crease of from 15 to 25 cents a barrel on Oklahoma, Kans: Texas orude. as followe: ravity below 33, 31.16; gravity 33 to 36.9, $1.40; gravity 36 to 35, $1.60. gravity 89 and above, 3175, " 160 DIVIDENDS. Stock of Rate. Payable. Record. 1%% Apr. 1 Mch. 15 ,1‘5?'_ . 1 Meh. 15 1Jen. 28 $2.50 Feb. 1 Jan. 19 BRER $1.76 Fen.’ 18 1Jan. 18 1%% Feb. 1Jan. 18 8 39 i | | EVENING BTAR, WARHINGTON, BOND QUOTATIONS STILL ADVANCING Liberties Strong Today. French Issues Higher—Big Week in Railroad Group. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 19.—The ad- vance in the bond market which has been in progress all week continued today, although not so rapldly. Libertys were still strong. On the week every active issue except ths tax exempt 3%s has scored a sub. stantial rise. The reason for the ex- ception In the case of the 3%s is, of course, antloipation of lower surtaxes. and smaller demand for tax exemp-: tion, which is also one of the rea- sons for the upward movement in the taxable issues. Then there is also the remarkable ease in the money market and the flood of funds seek- ing employment. Lively Week in Rafls. In the purely Invéstment railroad bonds there have been some sharp gains this week, mostly in the is- sues generally less active. Examples aro Atchison Transcontinental short line 48 up more than 3 points on the week and selling higher than at any time in 1923, and Central Pacific 4%s, also above their 1923 high. Bonds giving a higher yield have also been heavily bought. The fea- ture today in this class wag Hudson ind Manhattan refanding %s, whioh are still well below thelr high of o vear ago. The same company's In- come 53 had a larger advance. Both theso bonds have lagged behind the general market until very recently. Speculative rails were more irregu- lar today than the investment Issues. On the week the St Paul group are all up from 2 to 4 points except the refunding 4%s. There was some re- action today under profit-taking. New Haven 7s, both the dollar and the franc bonds, under heavy transac- |tions are up 2 points on the week and bettered their gains today. Forelgn Group Steady. In foreign bonds French issues were steady to higher today, notwithstand- ing the reaction in franc exchange. Some of the Japanese Issues went a little lower, probably In anticipation of the floating by Japan of a new loan in the near future. In the later trading the losses were more than made up. United Kingdbm 5%s of 1937, which have been heavy all the week, recovered today. The total of the week's new issues is more than $150.000,000. T} est amounts were the $60.000, Fed- eral Land Bank bonds und the $40,- 000,000 in Argentine 6s. COTTON EASES OFF; PRICES THEN RALLY Saturday Offering Not Heavy Enough to Cause Any Im- portant Decline. the Assoclated Press, NEW YORK, January 19.—After opening steady at an advance of 12 to 26 points on relatively firm cables and covering for over the week end, the cotton market eased off under a re- newal of liquidation promoted by talk of an easier basis in the southwest, rumors of full private ginning fig- ures and continued cdmplaints from the cotton goods trade. March broke from 33.21 to 3280 and May from 33.48 to 33.00, or 16 to 20 points dur- ing the first few minutes, but offer- ings were not heavy and the market soon stiffened up on continued cover- ing and reports of trade buying to fix prices. March raliled to 32.06 and May, to 33.25, making net advances of about 5 to 10 points and the market was steady after the early offerings had been absorbed. New Orleans Prices Drop. NEW ORLEANS, La., January 19.— Rumors that a private bureau was out with a report of only 9.900,000 bales ginned to the 16th of January put the cotton market higher on the opening today. but after advances of 13 to 19 points there was a drop under selling which appeared to come | from several directions. Some of it seemed to be cotton that was bought during the buying flurries of yester- day. At the end of the first half hour prices were 18 to 21 points under the close of yesterday. After rising to 33.22 March fell off to 32.83. and north | i ?_fflber rose to 27.78 and fell back to Day's Olosing Quotations. NEW YORK, January 19.—Cotton futures olosed steady; January, 32.84 nominal; March, 33.16a33.18; May, 33.37a33.44; July, 82.38a32.40; Octo- ber, 28.00a28.01. NEW ORLEANS, La, January 19.— Cotton futures closed steady, 20 points up to 10 points down net: January, 33.08233.09; March, 33.14a33.24; May, 32.90a32.96; July, 32.09a32.13; to- ber, 27.50a27.55. NEW YORK EGG PRICES. NEW YORK, January 19.—Eggs— Firm! receipts, 9,280 crates; New Jer- sey and other hennery whites, close- 1y selected extras, 51a52; Pa cific coast whites, extras, 50a61%; refrigerator, firsts, 26a2 EXCHANGE MEMBER DEAD. NEW YORK, January 19.—Leo M. Prince, senior member of the New York Stock Exchange firm of L. M. Prince & Co., dled today of pneumonia. He waa admitted to the exchange in 1902. SHORT-TERM SECURITIES. (Quotations furnisbed by Bedmond & Co.) Atuminum Go. of Amer. Alumiaom Oo, of Amer. erican Cotton Oil American Sugar fim.r - Tel. Lr R a Coppe e AngloAmerican Ol T8 1035 Blrlllnol! & Ohio G Canadian Nortbern 3%s 1 Eentral Argentin Sentral Tether e 4 100, 98] 104 99 100 108! 108! 104 108 110 bt TREASURY CERTIFICATES. (Qustations farsished by Bedmend & Ca) “Ofter” D. Private Wire (Sales ave in $1.000.) ¢ ':JNI'I'!D .'I'AT!I&IGNBI. Fractions resent !:u.mp!::" 98-3 means 98 3-33.) Bales. High. Low. Oloss. 70 99-12 99-10 99-12 29 29 29 Lib 4th 4%s. . 558 UB4%s1953. 189 N. 'cnzllg. High. Low. Cless. . 52 101% 101 101 8 86% - 28 9 8% 88 Czechoslovakia Denmark 6s » - - - po aSeraantenolaaanBe Holland-. italy 6%s 1925. ... 2 Japanese 1st 4}a. 317 Japancse 2d 4%8. .270 Tapanese 4s Jergen U M 65’47 Lyon és. .. Marseille éa. Montevideo 7s. Netheriands Norway 8s. . Norway 68 1943. Norway 6s 1952. Orient Dev deb 6s. Paris-Ly's-Med 63. 27 Prague 7%s....... 34 Queensland 78 Queensland 6s Rio de Jan 851947, 1 Sao Paulo State 8s. 10 Seine Dept of 7s. Swiss Confed Ud Kingm & 1 Ud Kingm 6%8'37.110 99% 99% Zurich 8s. . 2 111% 111% MISCELLANEOUS. Am AgrChem 7%s 7 100% 100 Am Chain s f 65°33. 95% Am SmIt&R 1st §s. 92% AmT& Tcltr Am T & T deb & Am Writ Paper Anaconda cv db 7 Anaconda 1st 65...104 Armour & Co 4%s. 4 Armour of Del 6%s 14 Asso O1l 68 ret: 4“4 Atlantic Refin 5a.. 6 Bell Tol Pals..... 8 Beth Steel 6%8'63. 9 Beth Steel rf 5u. 1 Beth Steel pm 6. Beth Steel 5 £ 63 Brier H St 1st 5 Bklyn Ed gen 55 Calif Pete %8 w 1. Central Leather o8 Chile Copper 6s. ... 2 2 Cuba Cane cv 78 Dery (D G) 7 Dugquesns Light 6s Est Cuba Sug 7%s. Empire G&F THs. Fisk Rubber Soodrich § Goodyear 8s 1941.. Ulinois Beil 1st bs. 56 Int Paperist5s A. Int Paper 1st 6s B. KCP&Lt5sAb3. GoaBoe - Liggett & Myrs bs. Lorillard (P) 5s... Magma Cop cv 7s.. Manat! Sug sf 7%s Mexican Petrol 8s. Midvale Steel 6s ct. Montana Power b: New Eng Tel bs. Sacnaa ™ n Nor States Pow Nor States Pow Northwst B Te 7 Otis Steel 7%s Pacific Gas & El 5a Pacific T & T 68 ‘52 Pan-Am P Pan-Am Pete 6% Phil & Rdg C&1 58 Phila Co 5%s '38 Plerce-Arrow Producers & Rt 8s. Public Service bt Punta Alegre 7s Sharon Stl H 8 Sinclair Ol 7 Sinclair O} 6%8... Sin Crude Ofl 5%8. Sin Crude O1l 6 Sin Pipe Line bs. .. South Bell Tel i - o e PR ArNO IR RNANRE NG NOREINMIR R~ com - Toledo Edn 1st 7s. Union Bag & P 6s.. Unit Drug cv 8 USRub lstrf U 8 Rubber 7% U S Steel n t bs. wraSSann Va-Car Chem 7s. Va-Car Ch 7%s w. Warner-Sugsr 7 ‘Westinghouse 7 Wilson & Co 1st Wilson&C cv Tis. Wilson & Co cv ‘Winchester A 7% Youngstn S& T 6s. 23 TRANSFER OF RAILROAD APPROVED BY I. C. C. Transfer of a branch line of the Missouri, Kansas and Texas rallway, now in receivership, to two new Oklahoma corporations was approved today by ‘the Interstats Commerce Commission. The Oklahoma City- Shawnee Interurban rallway will take over thirty-elght miles of the lin k1 City to Shawnee, an from Oklahoma City will {ssue $800,000 in first mortgage | Vie bonds and $800,000 in capital stock. The balance of the line, running from Shawnee to North Colgate, a distance of seventy-seven miles, will go to the Oklahoma City-Ada-Atoka rallway, which will issue $1,600,000 in securi- ties, half bonds and half stock. NEW STOCK ON MARKET. YORK, January 19.—The Phillips Petroleum Company today of- fered to its common stockholders 296,106 shares of additional common h in the ratio of one new shar r each four shares now o owned. President Phillips, in a letter | to stockholders, explained that the offering was mllde lnl orfler ,:‘h:t !‘l;e company = mi argely liquidate its Gmrent {ndebtedness, including_ail bank loans, and imp: its current position, £ C, SATURDAY, JANUARY 19, 1924 [ vonx BONDS o v Direct te The Star Office. RAILROADS. Bales. High. Lot B — B&OSWalv 3 Bklyn-Manhat 14 BkIRT 78’31 ct st. Chi M&St P 48 '25..120 Chi M&S P cv 4%s. 5. CM&St.Pdbis Chi&NW T8 Chi Rys 6s. 12 Chi Bl&l;ur!il. 69 Cleve Term 6s Colo & Sou 4% Den & Rio G cn 4 Det United 4 4. Erle 1st con 4 Erie gen 48 Erleconvds B..... Erieconv4sD. Gr Trunk sf db e RARORaN® MmN~ Gr North gen - = 56 Int & G Nor 1st 6s. 16 Kanses City S6s. . Kan City Ter: Lake Shore 4s ‘31 Lehigh Valley 6s.. 12 Long Islandrf4s.. 3 Louls & N uni 4 Louis & Nash 6% 2 Louis & N 68 2003.. 3 56% NYCentri NY Centen 83% 2% €6 80 76% Ore Short L ref 4s. Ore-Wash 1st rf ds Pennsyl gen Pennsyl gen 43 Pennsyl 6%w. Pennsyl gold 7s. .. Pere Marq 1st 5s... Reading gen ¢s....126 Reading gn 455swi 41 . 9 70% 103% 7% 45% 9 1% 83% 98% 103% 101% 28% 98% 61% 80% 66 9% Southern Ry 83s.. Southern Ry 6s ct. Third Ave adj bs.. Tol StL& W Union Pac 1st ¢ ‘Weat Bhore 1at 4s. Whel &LE rf d%s. ‘Wisconsin Cent WARM WEATHER STILL HURTS WINTER TRADE By the Associated Press. - NEW YORK, January 19.—Brad- street's Review today says: “Trade and industry tend to quicken gradually as January advances, but weather and other seasonal condi- tions make for considerable irregular- ity in the pace reported. Jobbing % trade for spring is picking up slow- ly, retail trade is a trifie quieter, in- dustry in manufacturing lines tends to broaden out turther, whereas building has been retarded and col- lections seem slightly. There is still some mention of filling-in orders for seasonal goods from jobbers, but spring goods large- 1y interest secondary distributors, and shipments of these goods are going forward more actively. ‘“Following the year-end sales, retail trade has been stimulated in some areas by colder weather north and west, whereas rains and bad roads have limited buying In the southwest. In the south cold weather has helped trade in some areas, but in parts of the east lack of steady winter has curtalled buying of winter footwear. ‘Weekly bank clearing, $8,5664,849,000. —_——— FOREIGN EXCHANGE. B. Hibbs & Co.) 4 30 per trittion ‘1182 o187 uz;l:l‘ 3 ‘00000 25 e thousan & a 12 Christia; crown. Btockbolm, crown. E By the Associated Prese. NEW YORK, January 19.—Forel; exchan easy. Quotations United States dollars: Great Brif demand, "’"t; cable, 4.23%; sixty. day bilis on banks, 4.21%. France, demand, .0451%; ' cables, .0451 Belgium, demand, .0414; cables Italy, demand, .0435; cables Germany, demand |cables, .00000000000023. 0414 o4 Holland, de- mand, .1412; Sweden, .2604;: Denmark, 168% * Switzerland, .1729; Spain, 1373; Greece, .0188; Poland, .00000011 Csechoslovakia, .0291 Jugoslavi .0116; Austris, . 00498 ; Argentine, 062; Montraaly 1813 % | 70; fowl, bresea poulty i % |PeT FINANCIAL., Grain, Produce and, Live Stock LOCAL WHOLESALE MARKET. At the close of the week's market loalers were unable to tell of any stantial decreases in prices. Sup- of all foodstufts were equal to 50 tiful SRl me more plentifu Slightly increased prices wers re- L)Qnad in the poultry and egg mar- .e ewhlle meat prices remained the and vegetables continue and prices are declared by have been falirly reasonable all the week. [B&s—Strictly fresh, selected, can- S5a4d: a2 Fruits plentiful dealers to or_cheap Eq average re- T 1b., 26a28; spring chickens, 8a28; ‘keats, 'young, each, 60a Doultry—Fresh killed spring chickens, per 1b., 30a32; roasters, per Ib., 30a32; hens, per Ib., 25a26; tur- per Ib., 30a33; keats, young, each, Toosters, per 1b., 2 me—Rabbits, No. 2 tock: 14a15; medfum, per Ib., 12a13; thin, per fi‘,'enpl‘o‘.! '3'33”3'08”""‘ Der 1b;, 1. Live blge each; live hogs, Green fruits—Apples, per basket, bo’é"ul’i”‘l"w: per barrel, ornia _ oranges, per 8.50a5:25; Florida, 3.00a4.25. oBeE g% (500a350. Grape- . 3.003.60. Cranberriss, 4508 5.60 per one-half barrel. Grapes, Cai- ifornia Emperos, 1.50a2.50. Vegetables—Potatoer bl., No. 1, 2.50a3.0 round, nearby. per ; No. 2, 1.50a2.00. Feopfl bag, 1.76a3.2 Ppotatoes, 6.00u7.00 per bl Sotithern lettuce per crate, 1.00a2.0f Iceberg, 2.60a8.25. Cabbage, northern, 2.00a2.50 per 100 Ib Fiorida, 1.76a 2.00 basket; nearby . bbl. Tomatoes, Florida, .00a4.50. Beans, southern, per basket, 2.50a4.00. Peas, per basket, 4.00a7.00. Celery, Cali ornfa, 6.00a6.50; Florida, 3.00a3 X Squash, 2.50a3.00. Peppers, per crate, Florida, 2.00a2.50. Eggplant, 4.00a6.00. Kale, per bbl, 1.60al.75. Spinach, bbl., 3.00a3.76. Southern cu- cumbers, per bushel, 2.5025.00. Ca rots, 100-1b. sack, 2.50a2.75. Brussels sprouts, 20a26. GRAIN AND PROVISIONS. BALTIMORE, Md., January 19 (Spe- clul).—Potatoes—White, 100 Ibs., 1.00 a1.90; 150 pounds, 1.5083.00; sweets and yams, bbl., 2.0086.50; bu., 1.00a 2.50; basket, 75a1.25. Beets, 100, 5.00a 8.00. Beans, bu., 1.75a3.00. Broccoll and kale, bu., 26a30. Brussels sprouts, at 123420. Cabbage, 100, 4.00a6.00 avoy, bu.. 35a50. Carrots,’ 100, 4.0 6.00. "' Caulifiower, crate, 2.50a2. Celery, crate, 2.5084.50. Cucumbers, | crate, 3.50a5.00. Eggplants, crate, 23.00. Horseradish, bu., 3.0024.00." Let- tuce, basket, 1.00al. Onions, 100 1bs., '1.60a2.75. Oyster plants, 100 Ib=., 6. 00. Parsnips, basket, 55a6 o hamper, 3.00a3.50. Peppers, crate, 1.50a2.75. Spinach, bu., 1.00a1.50. Squash, crate, £200a3.00. Tomatoes, crate, 3.50a4.50. Turnips, bu., 25a40. Apples, packed, bbl, 2.00a5.00; bu., 50a1.50; ‘loose, per 100 1bs., 1.25a1.65; {Box apples, 1.50a2.25. Cranberries, bbl 6.00210.00." Grapefruit, box, 1.50a2 Oranges, box, 1.50a2.75. Pineapples, crate, 2.50a4.50. Strawberries, qt., 40a 47%. Selling Prices on Gratn. No. 2 red winter, spot, 0.3 Teg winter, spot, no quo- No. 29red winter, garlicky, domestic, 1.13; export, no quotation; No. 3 red winter, garlicky, spot, no quotations; No. 4 red winter, gar- licky, spot. no quotations. Sales—None. Corn—Cob, new, 4.30a4.35 for vel- low, and 4.16a4.20 per for white; No. 2 corn, spot, 87 : corn, spot, 85; track corn, 2, new, 9 Sales—None. Oats—No. 2 white, 653%; No. 3 white, new, 54%. Hay—Receipts, 110 tons. There is a fair demand prevailing for the bét- ter grades of timothy, light mixed and No. 1 clover, and prices hold steady. Low-grade and damaged hay is duil sale and of uncertain value. Quotations—No. 1 timothy, 27.50a 28,00 per ton: No. 2, 26.00a37.00: No. 8, 23.00a25.00; No. 1 light clover, mixed, 25.50a26.01 . 2 clover, 22.00a 23.00; No. 1 clover, mixed, 25.00a25.50; No, 1 clover, 24.50a25.00. Straw—No. 1 straight rve, 25.00 per ton: No. 1-tangled ry 216.00; No. 1 wheat, 16.00 17.00a18.00 . An advance of 10 cents per barrel on western grades of winter straight flour was announced this morning. DAIRY PRODUCTS. BALTIMORE, Md., January 19 (Spe- Live pouitry—Turkeys, 1b, young chickens, 24.00a 082 830; guinea fowl, each, 35a6; Drassed poult: i 20; chickens, 23a25; ducks, 25a30; old roosters, 16; geese, 18a22; capons, 28 a35. %. | Ca i | -00000000000023; | Edison mand, .3713; cables .3718. Norway, de- | . off, native -‘nd nearby Eggs—Loss % | irgts, doz, 35: southern, Butter—Creamery, good to fancy, 1b, 50a56; prints, 5ba57; nearby oreamery, 42a45; ladles, 34a35; rolls, 26a30; store packed, 25a26; dairy prints, 28a30: process butter, 39. TODAY'S CHICAGO PRICES. CHICAGO, January 19.—Rather general commission house selling led to a price decline in the carn market today during the early dealings. The selling was based on favorable weather conditions and on prospects of an increased movement in the near future. Practically no corn, however, was obtained for Chicago on over. night bids. The opening, which ranged from % to %af lower. May, 78% to 78%, was followed by a moderate fur- ther setback. ‘Wheat was easier in sympathy with corn. Besldes, cable messages from France oftered to resell wheat for February, March or April shipment at below present replacement cost. After opening unchanged to a% | lower, May, 1.08% to 1.08% and July, | 1.06% to 1.08%, wheat underwent a slight general drop. Onts took the same course as other grain. starting unchanged to a shade | lower, May, 47%, and later sagging a little more. Downturns in the value of hogs had | & bearish effect on provisions. CHICAGO LIVE STOCK MARKET. CHICAGO, January 19 (United States Department of Agriculture).— i Cattle—Receipts, 1,000 head; compar- | ed week ago, choice beef steers and | vearlings, fully steady: lower grades, | 25 to 76 lower; top long_yearlings, 12.25; best matured steers, 11.40; other grades beef heifers, canners and cut- ters about steady; bulls, 50 Jower; | veal calves, 1.00 to 1.50 off. Week’s | bulk prices follow: Beef steers, 8.25a | 10.35; stockers and feeders, *.35a7.00; | beef cows and heifers, 5.0086.75; can- ners and cutters, 2.60a3.35; veal| calves, 9.75a10.50. Sheep—Receipts, 1,000 head; steady: compared week ago, fat lambs and | yearling wethers, 15 to 25 lower; others practically unchanged; best fat wooled lambs during the week, 13.75. Bulk prices follow: Fat lambs. .35813.65; vearling wethers, 10.50a ged wethers, 8.2589.50; fat .00a8.00; feeding lambs, 12.00a Hogs—Recelpts, 15,000 head; fairly active; uneven; mostly steady; choice 250 to 300 pound butchers, 7.15; top, 7.20; bulk desirable 150 to 230 pound ; packing Sows, hter pigs, duil: strong 026.26; estimated hold- head. e BOSTON STOCK MARKET. i BOSTON, January 19.—Following is s list of todays highest, lowest and closing prices for the most active stocks deait {n here: A i Am Tel & Tel Arcadian_Cons . h. Low. 128% 128! 1 1 b 21 s 128 51 o 18! it 80y 3 k0 w Nat Leather Sroheum "Circutt eum Cireu Shoe Mach . Close. | P! W.R &E 103NET INCOME, $820,077 Includes $668,750 in Yearly Dividends—Report Made by President Ham. The Washington Raflway and Elec- tric Company was operated at a net corporate income of $820,077.99 be- fore payment of $668,750 in dividends during the year 1922, stockholders of the company were told, at their annual meeting &t noon today, by William F. Ham, president of the carrier. The coadensed statement for the year was submitted as follows: Earnings During Year. Gross enrnings from operation .. $4,007,214.72 Miscellaneous ~income (including dividends from Potomac Elec- tric Power Com- pany) ... Gross income 664,972 42 Operating 755,878.49 5 425,000.00 dividend on comuion stock e Balance of ome for year 1028, 13,646.44 $151.327.00 upon fizal sudit of the 108,719,097 Passengers Carried. During the year the system carried 81,518,607 revenue passemgers and 01,490 transfer passengers, or a total of 106,719,097, a decrease of 1 198,149 as compared with the previous year. | “Bills have been introduced in the present Congress requiring the rail way companies to return to the rate of fare existing before the war. namely—5 cents cash or six tickets for 25 cents.” sald Mr. Ham. “It impcesible to return to a pre-war rate of fare until otner conditions over which the company has virtually no control are again upon a pre-wa: basis. Wages, coal and other ma- terials are anywhere from 50 per cent to 125 per cent higher than they wers before the war. Unless wages are to be reduced to the old basix, and un less materials can be bought at prices formerly obtaining, both of which are now manifestly impossible, we coul dnot revert to the old rate of TUnder tha proposed fare our oper ating expenses and taxes would ex ceed our operating revenues withir the District of Columbia by more than $1,000.000 annually, without any return 'whatever upon our inves ment. Hearings on this proposed leg islation are to shortly begin before a subcommittee of the Senate District committee, It is inconceivable that Congress, with the facts properl: presented, will favor the enacime of such legislation,” he concluded. New Equipment In Use. The company piaced in operation during the year thirty pay-within type for two tion, and ten cars of the pay-within type for one-man operation, referred to in the last annual report, the deliv- ery of which was completed the eariy part of 1923, It alxo added to fts transportation equipment seven busses, making the total number now in_operation fifteen. Building operations within the Dis- trict have been continued on the san large scale as for the last two years thereby, on the one hand, enabling the Potomac Eiectric Power Compar to enjoy a large business, but, on t other hand, requiring large expendi tures for increased and facilities. The electric | d pow er customers now total crease of 11,503 over the previous year, or 18.03 per cent. The total output of the plant at Benning wa 269,865,217 kilowatt hours, or 7.14 pe cent greater than in 1922. The ele tric company has spent approximate $10,000,000 for extensions and add tions to its piant and equipment dur- Ing the last six years, and the re uirements for 1924 approximate 3,000,000 New Financing Reviewed. To parilally provide the finances for neoessary extensions and to re- tire $3.600.000 genaral mortgugs bonds, which matured July 1, 1923 the company issued and sold on June 1. 1923, $4,000,000 general and re- funding 6 per cent mortgage bonds. It will be necessary during the year to provide for the financing of our construction expenditures and also for the retirement of $750.000 deben- ture 6 per cent bonds, which mature January 1, 14 The ~ W Rallway and Eleotric Company wae also called upon to make new financial arrange ments during the year by reason of the maturity on December 1, 1923, of its general mortgage 6 per cent bonds in the amount of $1.000,000. In order to provide for retirement of these bonds, and to reimburse the company for capital expenditures heretofore made "from its current funds. it obtained the necessary au- thority to place a new mortgage of $10,000,000 upon its property and to issue thereunder $2,645.000 of ite general and refunding mortgage 6 per cent bonds, dated November 1. 1823. None of these bonds have yet been sold but some of them are be- ing used as collateral for & loan made in connection with the retirement on December 1. 1 of & per cent bonds. Plans for Present Yenar. During the present vear considera- tion will be given to necessary finan- cing_in connection with the maturity on February 1, 1925, of $1,850.000 Metropolitan rallroad company first mortgage 5 per cent bonds. The regular dividend on preferred stock, at the rate of b per cent per annum, was_continued throughout the year. On June 1, 1923, after a lapse of four vears, payment of dividends on the common stock was resumed. three dividends of 1% per cent each having been paid during the vear. The total pay roll for the yea 1923 of the company, and subsidia companies, including the Potoma Electric Power Company, was $4 18 . an_increase over that of the previous year of $174,869.58 Stockholders Number 2,305. The record of stockholders as of the close of 1923 indicates a total of 2,305, of whom 1,308 are women, trus- tees, charitable, beneficial, rellgious or other similar organizations. It ix of interest to mote that 1,486 or 1 per cent of the stockholders are resi- dents of the District of Columbla. Finding that many of its emploves were interested in becoming stock- holders, and belleving that such a re- lationship was mutually beneficial the company decided late in the year to offer a limited amount of pre- ferred stock, which had been pur- chased in the open market, to its em- ployes upon the partial payment plan A total of 564 employes subscribed for 1,068 shares of stock under this lan. The operation of busses has been somewhat extended during the year as an adjunct to the company’s street rallway ~service. Being confronted with a demand from the District Commissioners for the reconstruction of the Washington-Interurban Line and certain paving on Bladensburg road, At a(cost of approximately §150,000, thelcompany applied to the bublic Utilities Commisafon of the District of Columbla and the Public Bervice Commission of Marviand for the right to abandon the major por- tion of this line and to substitute busses therefor.