Evening Star Newspaper, January 25, 1924, Page 28

* 28 { STEELS AND OIS MARKET LEADERS Sugar Shares Also Higher Again Today—Railroad Stocks Inactive. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, January 25.—The steel shares and the oils provided the two main points of interest in the stock market today. With the time drawing near when the quarterly dividend is to be acted upon, the advance in United States Steel common was particularly sig- nificant. It attested the confidence falt that there will be another sub- stantial extra dividend. the guess being that it will be 75 cents, thus bringing the total distribution for the twelve months up to 6 per cent. Beth- lehem Steel was prompt to respond to the 1923 figures, which were more fa- vorable than had been expected. In the blue times of last summer the street was sure that the Bethle- hem dividend would either be cut or passed. As it turned out, the surplus available for distribution’dn the com- mon amounted to $6.45, against $5 distributed to stockholders. Other steel shares followed along, Republic Tron and Steel, Gulf States and Sloss- Sheffield all ~showing consideral strength. ©fl Shares Go Forward. The immediate influence in the oil sharcs was_the further 25-cent ad- vance in Penneylvania Crude Oil This led to heavy buying at sharpl advancing prices in stocks like Cos den, California_ Petroleum, Philiips Petroleum and Skelly. i Texas Company got across 44 and! there was a sharp rise on smail| trangactions in Houston Oil. The| news given exclusively in these dis- patchcs Thursday that the Morgan | nterests were the bankers who| would attend to the new financing kad its effect uron Marland stock, in which there was unusually active| buying. | Sugar stocks were prominent| again, with Cuba Cane preferred above 68 for the first time and Punta | Alegre above 60. More notice was| taken of the position in the mar: for sugar futures. The prices at which the new Cuban crop options ere selling indicate the bellef in the | sugar trade that the producers will | get as much for their sugar as they did_a year ago. What th will mean in the way of dividend: now that the Cuban pro- ducers have liquidated their bank loans and accumulated large cash bal- ences, {s what the market has its mind upon. Lehigh Valley Higher. Lehigh Valley was one of the few rails to do anvthing. At 72 it was up & point and a half. ome buying came into Great Northern preferred on the preliminary statement ror 1923 showing net income available for dividends of $7.21, compared with $4.05 a year ago. This was a better result than had been anticipated. The latest railway car-loading fig- gres were interesting, even i they | had no nediate effect upon the railway shures. The increase of 168,- 996 care over the weck ended January 12 was not surprising, in view of the comparison being made with the week including New Year day. As compared with a year ago there was still a slight decrease—643 cars. This was no reflection, however, upon the meneral business movement, for load- ngs of merchandise still showed an | increase as compared with the same period in 1 Interest died down perceptibly in the exchanges. The sterling market Is evidently awaiting the further elaboration of the labor party pro- gram. The market for the franc is equally inclined to inaction until there is more light upon the outcome of the tax increase proposals. At length the decline in Danish cur-| rency. which has bLien going on steadily for the last ve-k or more, was halted. Marland Ol a Feature. Dealings in Marland Oil continued today on a large scale, big blocks of stocks changing hands between 39 and just above 40. The incentive tor the advance was disclosed quite fully on Tuesday. The rumor persisted in certain quarters that eventually Mar- | land wouid absorb other independent producers. That was the construc- tion placed on the news that Mar- land, with ihe support of strong banking interests and with assured outlet for its products to the Stan- | dard Ofl of New Jersey, would ac quire other oil producing properties, United States Industrial Alcohol was bid up to its highest for the pres. ent movement under the influence o several favorable factors. Among them is the knowledge of exception- ally high earnings, which are run-, ning at the rate of at least $17 per share. It is predicted that the stock will go on the dividend list in the near future. Some look for a qulr-' terly distribution at the rate of $6 annually, and perhaps an extra. May Department Store: ran up rather sharply, and its advance was sct down to expectatlons of an in- crease in the dividend from $5 to $6. ‘The main consideration behind the | advance has undoubtedly been the sustained earning power of the com- pany and its ability to increase profits as the result of acquirition of new properties, usually financed out of current income. Group Moves at Close. i The afternoon stock market saw a| continuance of the varieus group movements and a few particularly sharp runups in the high-priced in- dustrials. Some were inclined to set these latter down to investment buy- ing attracted by the soundness of the companies concerned. Others looked upon the demonstration as mere spec- ulative marking up of a class of stocks in which the floating supply is small. Railway shares. with only one or two exceptions, still lagged behind. This can no longer be explained on the ground of uneasiness over what might happen at Washington. No- body serfously belleves that at this session of Congress, at least, any- thing will be done to hurt the rail- ways. The leaders in the late afternoon were Industrial Alcohol, American Car and Foundry, Phillips' Petroleum and other of the oil and steel shares. Pool operatione in Industrial Alcohol wero conducted with unusual con- fidence. MARKET CLOSES STRONG. Railroad Shares Pick Up In Last Hour Trading. By the Associated Press. i NEW YORK, January 25.—Irregular ice movements in today's active stock market, reflected the vlay of opposing. speculative forces for control, but oper- ators on the long side aided by cheap money rates and favorable trade news, made the best thowing. High-priced speclalties were again buoyant but tem- porary weakness developed in some of the motor and chemical issues. Sales approximated 1,200,000 shares. e closing was btrong. 'Buying ord- ers for railroad shares made their ap- vearance in the final hours. Lehigh Valley, Canadian Pacific, Delaware &. Hudson, Southern Raflway and Inter- national and Great Northern climbing 1% to 2 points. American Car and Toundry and General Electric each ex- tend‘t.hou' gains to 6 points. l!nt FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JANUARY 25, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office Adams Expre: Adv Rumley. Adv Rumley pf. Alr Reduction. . Afax Rubber... Alaska Gold. All Am Cable Allfed Chem. Allled Chem pf. Allls Chalmers Allis Chalm pf. . Am Agr Chem. . Am Ag Chm p Am Beet Suger. Am Rosch ..... Am Brake Shoe Am Can.. Am Can pt. Am Car & Fdy.. Am Car & Fpt. Am Chain (A).. Am Chicle Co. .. Am CotOpf ctts Am Drugegist. .. Am H & Leath.. Am H & Lea pf Am Ice. Am Tnte: Am La Franc Am Linseed Am Linseed pf. Am Locamotive. Am Metal pf. Am Radiator. .. Am Safe Razor. Am Ship & Com Am Smelting... Am Smeltpf.... Am Steel Fdy Am Sugar Am Sugar pt. Am Tel & Teleg. Am Tobacco. Am Tobac (B).. Am Tob pf (n).. Am Woolen. ... Am Woolen p! Am Zinc & Lead Anaconda. . Armour of Del pf Asso D Goods. .. Asso DG 1st pf. I v\ <sactated Ofl. Atchison. Atchison pt. Atlan Bir & At Atlan Cst Lin At Fruit stfs Atlantic Gulf. At] Gulf pf. Atlantic Ref. , Nicho! Auto Knitte: Baldwin Loco. . Raito & Ohlo... Balto & Ohlo pf Bangor & Ar pf. Garnesdall (A). Rarnesdall (B). Beechnut Pack. Reth Steel. Reth Stl 7%(n) Blumenthal pf Beoth Fish. ... Bkiyn Edison. Brklyn-Man Tr. Brkin-Man T pt. Bklyn Un Gas. . Brunswk Term. Burns Bros pf.. { Butte Copper... Butte & Super.. Butterick CaddoOll. Calif Pack. it Petrol Calif Petrol pf. Calumet & Hecls Canadian Pac Case Plow Wks. Central Leatn. . Cent Leath pt Century RibMiils. Cerro de Pasco. Chandler Mot. Chesap & Ohlo. Ches & Ohlo pf. !chi& Alton.... Chi & Alton pf.. Chi & E Il pt... Chi Grt West Chi Great W pf. jChiMil&StP. . Chi Mil &8t P pf Chi & Nortkwn. Chi & Nwn pt ChiR1& Pac ChRIZ P 6% pt Chi RI&P 7%pf. ChiStPM&O.. Chile Copper. Chino Coppe! CcCC&StL.... Cluett Peabody. Coca-Cola. Coco-Cola pf. Colo Fuel. Colo & South. .. Columbia Gas. . Columbn Carbon Com Solv (A) Com Solv (B) Comp Tabulat.. Congoleum Co. Cons Cigar. ... Cons Gas of NY. Continental Mot Corn Producta. . Corn Prod(new) Cosden & Co. S .. Crucible Stl pf. Cuban-Am Sug. Cuba Cane Sug- Cuba Cane Spf.. Cuban Dom'can. Cuban Dom pf.. Cuyamel Fruit.. Davison Chem. . Davison rts Deere Co pf. Del & Hudson... D Lack & West. Detrolt Edison. . Dome Min . Dupont (ED)... Dugquesne 1st pf. Eastman Kodak EatonAxle &8p. | Elec Stor Bat. Endicott-John Erl Erielstpf.... Fair (The)..... Famous Players Famous Play pf. Fa Mines &S pt. Fifth Ave Bus.. Fisher Body. Flsk Rubber. Fisk Rub pfA. Foundation Co.. Freeport Texas. &en Am Tk Car. Gen Am Tk pf.. Gen Asphalt. Gen Baking. ... Gen CIgar...... Gen Electric. Gen Elec spl. Gen Motors. Gen Mot 6% deb. Gen Refractories Gimbel Bro Goodrich. Goodyear pf. Goodyear pr pf. Granby Consol Gt Northern p{. Great Nor Ore. Guantana Sug. . Gulf Mo & Nor. Guif M & Nor pf. Guif St Steel. Hsanna (M A) pf. Harbishaw Cab. Houston Oll..... Hudson Motors. Hupp Motors Hydraulic Stl. Illinots Central. 111 Cent pf f pd 111 Cent (LL) 1nd Oil & Gas. Indian Refining. *Ingersoli-Rand. Inland Steel. Inspiration. Interb Rap Tr.. In Ag Chemical. ment. Open. High. 76 10% 37 7% 9% Y 100 70 110% 48 95 114% 17 55% 126% 34 954 5% 19 22y 3% 8419 26% 101% 5% 48 18% 148 1% 17 434 281 A% 62 3% 101 92 1 43 50 3% 71 27% 16% 1% 103% 104% 7“ 8% 2% 25 5% 176 87% 26% 17 1% 43% w 76 104 87 73% 9% % 100 70 110% 76 10% 37 74% 4 111% | Kayser pf. % 120% Kennecott. 48 25 15 % 83% 92 1 49 3% 71 21% 16% 1 103 104% K 8 2% 25 5% 176 37% 26% 16% 1% 43 Low. Clome. 76" | In Combust E... 18% | Int & Grt North. 87 |Int Harvester pr 107 74% | Int M Marine pf. 81 9% | Int Nicke!. 13% % Intl Paper 8% 100 | IntTel & Teleg. 67 72 _!InvincibleOll... 151 514 22 2 258, 26% 15 424 | Kansas & Gulf. . 4314 | KCP&Lt 18t pf. 84 | Kansas City 8. 81% ! Rayser (Julius) 9% 18% 36 | 101 111% | Kelly Spr Tire. 82% 174% | Kelly-Spr 6% pt 734 36 3% 615 290 16% 0% 23 | Keystone Ti 17% | Kinney G R $6% | Kresge (SS). . 6 3 | Lee T & Rubber. 12% | Lehigh Valley. 56% . Lima Locomo. 66% 88% | oews Inc. 17 23% | Loft Ine. .. 8 u 61 ot 88Y 41% T4 1% 66% 86% 96% 65% 2915 €6 851 42% 86% 11 261 Mackay Cos pf. Mack Trucks. Mack Trucks 1st Macy Co.. Mallinmon & Co. Manati Sugar. Manhatn B} gua; Manha* Shire Maracatbo O11. . Market St Ry. .. Market St R 2d. Market Stprior. 64% Marland Ofl..,. 39 Martin-Parry.. 854 Mathison Alkill. 38 Maxwell (A)... 54w, Maxwell (B)... 15% May Dp Store; 94 Met Edfson pf.. 92 Mex Seaboard.. 36 [ Mex Seabd ctrs. Miaml Copper. . Aiddle St OMl. .. Midvale Steel. .. Minn & StL.. Minn StP & SSM. Mo Kan & Tex. Mo K & Tex pf. Mo Pacific. Mo Pacific pf... Montana Power Montg'y Ward. . Moon Motor: Mother Lod Nash Motors. Nat Biscuit. at Cloak & Nutl DeptStore: Nat Supply. Nevada Copper. N Or Tex & Mex. N Y Air Braki NY Alr Brk (A). N Y Central. ... N ¥ C-Readg rts. NYChi & StL.. NY Chi & StLpf. NYNH&Hartftd. Norfolk South. . Nort & Western. North Amer. North Am pf. North Pacific Ohio Bdy & Blw. Oklahoma Prod. Orpheum Circuit. Otis Elevator. Otis Steel Otis Steel Owens Bottl Pacific Coast. ... Pac Coast 2d pf. Pac Gas & Elec, Pacific Oil. Packi: rd Motor. Pan-Am Pete. Pan-Am P (B).. Panhandle pf. Penna Coal & C. Pennsylvania Penn Seabd Stl.. People’s Ga Pere Marque! Pere Mrq pr pf Philadelphia Co.. Phila Co pt P&RC&L (W), Philip Morris. Phillips Pete. Plerce-ATrow... Pierce Ar pf. Plerce Ofl. . Plerce Oil pf.. Pitts Coal. Pitts Coal pf. Pitts Steei pf. Pitts Utilities pf. Pressad Stl Car. Pressed St C pf. Produc & Ref. Pub Service Pullman Co. Punta Alegr Fure Ofl. Railway St Sp. . Ray Con Copper Reading. Reading rts Reading 1st pf.. Reading 2d pf... Remington Replogle Steel. Rep Ir & Steel. Rep Ir & Stl pL. Heynolds Spr. Rey Tobac (B).. Royal Dutch. Rutland Ry pf.. st Joseph Lead. St L&San Frao.. $t L&San Fr pf. 5t L Southwn. 3t L South pt San Cecll Sug. savage Arms. Schulte Store: board Alr L. 114 11% 57 19% 36% 34 Seneca Copper. Shell Tr & Tran. j Shell Unlom..... Shell Union pt. Simmons. . Simms Petrol. Sinclair Ol}. ! skelly Of1 Slosa-Shefeld So Porto Sugar. South Pacldc. Southern Rwy. Southern Ry pf. St Oil of Callf. StandOfiof N Stollot NJpt. Sterling Prod... Stew'd-Warner. Strombg Carb... Studebaker. Submarine Bt... Superior Oil. Superlor Stee! Superfor St1pf.. 116% Sweuts CoofA.. 2% Tenn Copper. - Texas Company. Tex Gult Sulph. Texas & Pacific. Tex & P C & Oll. Third Avenu: Tide Water Oil.. 138% Timken Bearing 39 ‘‘obacco Prod, 41% 65% 4% 117% 621 96 81 102% Trans Cont Oil.. Underwood..... Unlon Pacific. 4 129% 72% 82% . 188y Utd Ry Invpf... 38 + SCastlPlps.. 76% 74 |USCastIrPpf. 87% 8 |USFood Prod.. 8% 2% | US Hoffman M., 25 | U 8Indus Alco. 5% | U'S Realty. 175 | U S Realty 87% | U S Hubber..... 27" | USRub 1st pf. 16% | U S SmeltaRet. 1% - [ 756% 100% 108 41 89% 21% 101% U S Steel pf. 26 284 107 31% 14 394 67% 15% b1% 22 26% % 95% 19% 36 102 32% 8% 6% 3% 617 290 16% 2% 67 17% 8 61% 88% 111% 66% 867 96% 8514 29% 66 36% 42% 3% 11% 26% 64% 10 35% 38 54% 15% 95 92 16% 15% 23% 6% 30% 373 45 12% 33 1% 3234 1738 1% T8% 100% 106 41% 21% 108% «o 120% 120% 120% Open. High. Low. Close. 26% 28% 1048 31% 18% R9% 67% | 16% 650% 22 25% T 9514 19% 85% 102 324 8% 36M% 3% | 61% 290 16% 1% 668 17% 8 88% 1% 66 864 96% 65% 29% €6 35% | 2%l rua 37 11% 25 64% 39% 25% 38 54k 15% 4% 92 16% 15 23% 64 30% 3% 45 12% 33 11% 32 62% 25% 26% 8% 104% F21y 62% 41% 95 43% 149 1134 1% 674 12% 974 42% 50 102% 3% 8 87% 19% 14 106 61% ! | common at 20 and PRICES HOLD FIRM [N BOND TRADING Market Again Broad and Quite Active—Coppers and Sugars Leaders. ON NEW YO Received (Balos are in $1,000.) UNITED.STATES BONDS. ti t o mp1es T 5603 means 98 3-359 Sal I.,Hll(;. 0008 Lib3 496 89-10 99~ Db im%ue 'S¢ so1e 9811 Lib2d 4%s... 213 99-13 99-11 Lib 3d 4%s 1619 100 99-30 Lib 4th 43s.. 533 99-16 99-14 U'S4%s 1955, 196 100-3 100-1 1002 FOREIGN. Sales. High. 9 101% 4 83% 15 86 98% 98% 98%s 110 88% 75 78% 94 99% 101% 99% 99% 102% 102% 103 94% 421 108% 89% 924 95% 108 94% 89% 95% 95% 84% 94% 9Nk 91 94 80% 8% 4% 26% 943 3 111% 6 93% 934 884 87% B0y 104% 100 8915 89 96% 9874 9% 674 104% 117% 624 106% 99% 8714 9 | 99-3 Low. 101% 83% 85% 98% 98% 98% 109% 884 74% 8 94 99% 101% 99% 99% 102% 102% 102% 94% 42% 108% 89 92 95 Argentine Tt Argentine Austria 7s. Belgium 7% Belgium 6s. Belgium 8s. Bern 8s Bolivia 8s. Bordeaux Rrazil 7. Brazil 8 Canada 5s 1926 ~anada 5%s 1929 inada 58 1931. Canada 581952. . Chile §51946..... Chile §51926. Chile 8s 1941 Chile BY GICORGE T. HUGHES. Special Dispatc'h to The Star. NEW YOI'K, January 25.—Today's bond market was again firm, broad iand comparatively active. The greatest interest centered in !the speculativie descriptions, particu- larly the convertible copper and sugar | bonds, which move with their re- spective stocks. Among the coppers |Cerro de Pasco 8s went up between | |2 anda 3 poings, Anaconda 7s sold above 101 and Chile Copper 6s were acttve above pair. In the case of the last-named the stock is still selling far below the aunversion price, but on fts merits the bond has an invest- ment attraction, with speculative pos- sibilitles If there shouid be further |rise in copper stocks In the sugars Eastern Cuba Sugar were the leaders. These are convertible into Cuba Cane Sugar ¢ guaranteed by Punta_ Alegre Cnba Cane were, 94 103 Cuba b¥%s cifs Czechoslovaklu 8 - 95 Denmark 8s..... Denmark 6s Dutch E I 5%s Dutch East I 6s'47. Dutch East I 6 Framerican 7%s. French Govt 8s French Govt 7%s.. Haltl 6s .o Japanese 2d 4% Japanese 4s.. Jergen U M 65 47 Lyon 6s Mexico 4 Netheri Norway 8s. Norway €s Norway 68 1952 Orient Dev deb 6s. Paris-Ly's-Med 6s. Prague 7%s % 94 94 95 parent corporatiom. Sugar 7s_ and { likewise higher. Tractions Also Active. Actiwity was alJso in evidence in the tractions. Interborough refund- Ing 5 unstamped made a new high on the present mave above 64 and Hudson and Manhattan refunding 6s finally responded to the Improved position of the companv. Chicago Railways 58 were un todav 4 points above the low of the year. Manila slectric 78 touched par for the first time. Among the oils Sinclair 7s rallied from Thursday's low and among the industrials Marine 6s gained fraction- ally. Youngstown Sheet and Tube 6s sold in large volume at their recent high. ' Speculative ralls wers more irregu- lar, with some reaction, particularly ! Sao Paulo State 8s. in 'the New Haven group. .On the |Seine Deptof 7s. «other hand, the St. Paul bonds all did | Serbs Croats Slo §8 better. ~Seaboards and Eries were |Sweden little changed.. The strongest bond | Suius Confed 88 {In this groun was International Great | Toyie oo Northern adJustment Ud Kingim b¥%a"20 Wenk Point in Market. Ud Kingm 5183 The weak point in today's market. | Ud Steam Copen 6s as Tharsday, was found in the Vir- | Gruguay 8s.. 102t 1024 ginla Carolina Chemical bonds. The | Zurich s. . . . 6 111% 111 {i%s with warrants sold below 63| | during the first half of the day | MISCELLANEOUS. The 7lis without warrants were | Ajax Rubber 8s 1 95 95 down &3 poinis since the last record- | Am Agr Chem 13 100%: 100 ¢d transaction. The first mortgage 7s | Am Chain s f 635, 15 95% 94% No | Am Cotton Oll 5s.. 12 86!s 86Y% were unsteady between 80 and 81. xplanation was available. S 3 2 1 There was lit: worthy of note in f""’"{m“&nl!l ok 9.2?' SFV‘ foreign bonds. French fssucs were | AT Smit&R 6s. 10279 102% about steady. Mid-European descrip- | AI? SUg ref 6s Ll tions ware a'trifle higher. Bolivia 8s |Am T & Tcltr 39 38 made a new high on this recovery. |AmT&Tcltr4s 93% 93% The principal new issue was $2,150,- | Am T & T deb 515126 997 9% 000 Interstate Public Service Company | Am Writ Paper 1 46% 464 632 per cent first mortgage and re- | Anaconda cv db 7s.116 101% 101 funding bonds offered at 98 to yield | Anaconda st 6s. 98% 98% Armour & Co 4%s. 86% 86% 91 91 over 6.65. = Armour of Del 5 Asso Ol 6s rets 98 977 98 98 PRICES OF conoN Atlantic Refin 5: moar Bell Tel Pa 5s | Beth Steel 534 911 90k w FIRM TONE ! Beth Steel pm 91% 914 | Beth Steel rt 55, 95% 95% jBeth Steel s f 6s. 99 - 98% |Brier H St 151 5%55. 1 95w 950 Bklyn Edison 7sD. 3 109% 109 Bush T Bldg 55 '60. 92 92 Calif Pete 618 w 96 96 Central Leather 96 96 “erro de Pasco $s.. 12 143% 142 Chile Ccpper bs. 1007% 100% 1CinG & E5%s'62 9TH 9T4% {Commonwth P 65 8916 89% January 25.—The | Con Coal Md 1st 53 29 " 887 COfton market showed & ateady|CaRsCinecvdss. o Cuban-Am Sug 07 10785 undertons during today’s early trad- | Suban-Am Sug § ot oun Ing because of relatively steady | Dery (D G) 82 Bl i Liverpool cables and bullish over- 105 1047% | Det Edison re night spot advices from the south. |Donner Steel 83 88 108 107% Demand was not active or general, | DU Pontde Nis. 26 Powever. and the price movement | Botcona See 1o 100 oo 1oos t Cuba Sug 7%s. was rather irregular. After open»,fif,.m:e?m'i."nfi’. 155 921 917 104 104 ing steady at a decline of 10 to an | Fisk Rubber 3s. advance of 11 points, active months | Saw by sold about 7 to 12 polnts net higher, ik {with March advancing from 33.43 to 103 133.60 and May from 33.63 to 33.87. n7 { Today was the last January notice 101% day. Notices representing about 98% 13.600 bales were reported in circula- 951 jtion, and it was thought more might. 1007 be iscued before midday. January 80t sold at 33.40 early and then reacted 811 to 33.30, but there was very little 84' business in that position. . 91% 105 New Orlezns Market Movew, Kayser (J) 7s. . NEW ORLEANS, La.. January | Relis-Spring ss. 104% Advances of 13 to 16 poi vere | Lackawa S 5s ‘50 a made 1 the first hulf hour of traq. | LIEEett & Myrs is. 2% ing in cotton today as the re-ult of |Lorillard (F) 116% a better Liverpool market than duc | MagmaCopevT7s.. 16 11715 and claims of a continued good spot | Manati Sug sf 7%s 4 100% demand. Buyers, however, appeared | Marland Of17%s.. 2 100% to be held in check by continued | Mexican Petrol 8s. 102 small saleg of cloths in American fMidvale Steel 5 ct 90 . March vose to 33.81 cents ana P 5 7 a pound and October to 27.62, e e ikeioh o Noon®Bids on Cotton. * | Nat Tube 1st 55 100% NEW YORK, January 25.—Cotton | New Eng Tel 58 99% futures, 1145 'am.. bids: Steady: )N X Edsn 1st 6%s. 14 111% January, 33.12; March,. 33.40; May, |NYG EL H&P 8s. 99% 33.64; July, 32.53; October, INYG EL H&P 4s. 83% . R N Y Tel 68'41.. 1054% on futures, ., 33.33; May, 38.0 N Y Tel 6849, 107% - fkd 14%s 94% 27.45 asked. 3 e !N Am Edison 6s 2 H 215 102% 108% 100 934 924 s 91 94 26 88 67 80 Queensland 7s. Queensland 6s. Rio de Jan 85 1946. Rio de Jan 55 194 | Sao Paulo City #=.. 11 Advances Follow Decline in Open- ing Trading—Last January i Notice Day. ] Gen Elec deb 5s Soodrich 63,8 Goodyear 8s 1 Goodyear 8s 1941 Hershey 6s 1942, Humble O&R 514s. 1llinois Beil 1st 5: indiana Steel 53 Int Mer Marine 6s. int Paper 1st 55 A. Int Paper 1st 55 B. (KCP&LtssA52 L PET TP EN o PN [P - o) e ~— BUTTER PRICES HIGHER. CHICAGO, January 25.—Butter higher; créamery extras, 51%; stand- | ards, 51%; extra firsts, 50a51; firsts, 4833249 seconds, 46a47. Eggs higher; receipts, 5,976 case: firsts, 41la42 ordinary firsts, 37a 39; refrigerator extras 2514a26: re- trigerator firsts, 24%a25. | Bhlls Co vof 68 A e i Plerce-Arrow 83 PASSENGER TRAFFIC DROPS. | Public Service % Alegre 7 ST. LOUIS, January 26 (Special).— | LUPt8 The United Street Rallways here car. | Sharon Stl H & ried 70,895,101 passengers in the last | SInCIRIT e R ] w"hlh‘:ncé:::dsltl)fi?v. 71,213, n the corresponding Sin ot 1932 & period | g Grude Ol 6 - Sin Pipe Line { South Bell Tel 58 66% 66 664 | So Por Rico Su'7s 23 22% 22% |Steel & Tube7s.... 304 308 81 Northwst B Te 7s.. Otis Steel 8s... Pacific Gas & El 53 Pacific T & T 53 '52 Pan-Am Pete 7s.... | Pan-Am Pete 614s. Phil & Rdg C&16s. Phila Co 5%s'38... 87 9% 9% 821 95% . 102 104 97 95 102% 107 7% 13 B86% 10 Utah Copper. ... Utah Securitles. Vanadium Corp. Van Raalte. Va-Car Chem... Va-C Chem pf... 97 95 107 98 102% 102% 8% 89% 95 o4y 81% 80 64% 625 102% 102% i10 110 108 107% 7 7 98k’ o7y, 98% 98% 110 108 & ki Wheeling&L B. Wheel & LE Df.. White Eag OIl.. Union Bag & P 12% 125 Utah 'ow & Lt 68 58 | Warner-Sugar 7 17% wa White Motor. o 4% DIVIDENDS. Sug Est Orient 78 Tenn Elec Pow 6s. i 1 | Tide wat Oll 6o ledo Edn 2l ord Tole: 49 it Drug cv 8s. 1% 4% | U5 Rap Tet r 65 U 8 Rubber 7%s... a: 38 U S Steel s {6 21 26 | 0 Vertientes Sug 49% 80 |ya-CarChem1 0% ! va-Car Ch 7% 118 West Unlon 6% 95% ‘Westinghouse 78. . 637 Wickwire Spen 7 8% wilson & Co 1st 68 20w 3eve! wWilson & Cocy 9% 91y 56% 65% | ‘Winche r AT 102% 102% Youngstn S& T 6s.128 96% 95% 1% 5 s —_— P 5 B 5% 5% 3% . Tiod. abe. 2954 205% 296% Feb Woolworth, Worthington. Worth'gton (A) v rugicy. I oe o 394 Lake Youngstn Tubs. 68% (B 3 *044 lot. lwnmn Suppl; = Feb. High, terns Bros. Call Money United Feb, 20% e 1% S vl o HOURLY SALES OF 8TOCKS. 1la.m, .413 000 1 p.m, .850 900 12M....677 300 3p.m. ¥ thirty - seconds. Low. Close. 99-10 B & 99-14 1 19 1 32 99-14 Close. 101% 83% 86 98 98% | Ca 98% | 109% 884 4% 8% 99% 101% 99% 9936 102% 102% 945 42% 108% 89% 92 107% 89% 95% 84% 93% 1% 80% 8% 4% 944 1% 93% 934 104% 9914 891y 891y 96% 987 9% 67% 1043 114% 62% 106% 997 874 102 ¢ |Norfolk & W en 4s. 14 104% 102% e 6% 106% | 102% 89% 94% 81 63% 102% 9% 28% 91% 102% 96K Stock of record. m,& only within the last year or so ha: 25 | peen able to handle such large loans Feb- 18 | without Jan. 31 | which seught the hulhaa s announced Feb. 18 ¥eb. 20 i thelr own box Twenty varieties of laundry blueing have baen developed by Dr. Richard [yondon, which were opened In 1852 by larea of elghteen acres within the Gar- 1924, = BONDS o ] by Private Wire Direct to The Star Office. RAILROADS. Bales. High. Lo Atchison gen ds... 12 Atchison adj 4s.,. 10 AtlanticCLecl 4s.. 8 47 11 A Close. AL 81% 83 97% 83% 101% 21 87 1 80% 26 97% 1 68% Bklyn-Manhat 6s. 572 6% BkIR T 78'21 ctst. 99% Buff R&Pitt 4% 90 Canadian North 78 113% d North 6% 1124 Canad Pac deb 4 Car Clinch & O 65, Centof Ga és. ... Centzal Pacific 48 Ches & Ohio cv bs. Ches & Ocv 4% Chi & Alton 3s. Chi & Alton 3%s. . Chi B&Q gn 4568, 101% 86U Chi Grivest 4s (n). CM & Puget Sa 4a. Chi M &St Prt 4%s Chi M&St P cv 5i Chi M&St P 4s Chi M&S P cv. Chi M&I P ds'34. . CM&StPgn4%s. CM&St. Pdb 4 Chi & W Ind cn 4s Chi & W Ind 7%s CCC&StLr{6sA . Cleve Term 5%s. Cleve Term 5s. Colo & Sou ¢%s. Cuba RR §s. Del & Hd 1st rt Den & Rio G cr 25 D& R G st re 5 25 Erfe 1st con 1 Erle con ext 18 Erle gen 20 Erleconv4sA.... 3 Erie conv 48 B 26 Erleconv4sD.... 23 Gr Trunk st db 20 Grand Trunk 7s... 21 Gr Northgen 7s... 13 Gr North gen 5%=. 12 Havana ERL&P 5 Hud & Man ref 5s. . 35 Hud & Man aj 6 111 Central 5% 17 Int Rap Tran bs...120 Int Rap Tr 6s stpd. 49 Int Rap Tran 6s 22 Int Rap Tran 7s... 16 Int & G Nor a§ 61 Int & G Nor 1st Iowa Cent rf 4 Towa Cent 1st Kan City Ft 8 4 Kansas Cit> 8 3 Kansas Clty £ § Kan City Term 4s Lake Shore 45 '28 | Lake Shore 48 '31 | Lehtgh Valley 6 Louis & N uni 4 Louls & Nash 5% Louls & N 55 2003. 36 61% 88% 49% 93% 18 68%% T6% 686 87% 83% 95% 93% 102% 90% 105% 99% 5945 99% 874 % 82% 196% 55% 924 b4 % 103% 0% Manhat Ry cn 4s. | Market St cn 58 M StP&SSMcnds 4 MK&Tistds.... 20 MK&TprinssA.124 MK&T6sC... IMK&Tadfss.. Mo Pacific §s Mo Pacific gn New Or Term 4s. | N'Y Cen deb 6s. !N ¥ Cen deb 4 NYCentriss..... N Y Centcn 45°98 N Y CenLScl 3%s. New Haven cd 6s. New Haven7s..... 14 New Haven 7s fr.. 272 New York Ry rf 4s. 43 N Y Ry rfdsctfs.. 134 NY State Ry 4%s. 1 NY W & Bos4%s. 38 824% 73 9% 5% 36% 37 6315 46% 88 108% 59 82 91ty 99% 102% 98% 81% 100 91 Norfolk & W cv 6 Northern Pac 3s. Northern Pac 4s. Northern Pac 55 D. i Ore & Calif 1st bs. . O Short L.cn 55 "4 Ore Short Liref 4s. 48 Ore-Wash 1st rt 4s 27 Pennsyl gen 58, 1 Pennsyl gen ¢%4s.. 12 | Pennsyl 6% 14 15 57 Reading gen 4s....151 Reading gn 4% 3wi129 Rio G Westcl 4 RIATk & L4{%s... 3 St L IM&S R&G 43. 10 StLIM&S4s'29. 10 StL&SFpldsA.. 47 StL&SFprinbs. 32 StL 23 19 19 107% 93 90%; 895 64 75% 6% 864 68% 8415 62% 84% 62% 76% 100 7% 80 % 97 5% 60% 48% i 0% 93% 86% 974 70% 102% 9% 6% 56% 47% 79 91 9644 102% 101% 94% 928 89%, 62% 83 100 8% 80 % 97y StLSW st 4s. StLS W con 48 '32. | StP & KCShL 4358, St P Un Dep 6%s. San'A & Arn Pds.. Seab'd A L 4s sty Seab'd A Lref 4 Seab'd A L ad) 5s. Seab'd A Licon 6s.. 16 Sou Pacific 48 1929 35 Sou Pacficref 4s... 3 | Southern Ry ist6s 8 Southern Ry gn 45. 49 Southern Ry 6%4s.. 4 Southern Ry ésct. 16 Sou Ry Moplle 4s.. 1 Third Ave ref 4s... 10 Third Ave adj 5s.. 40 Tol StL & W 4s. 8 Union Pac 1st 4s... 22 Cniop Paccv 4s... 17 Union Paccy 5 Union Pac 1st r 9 virginia Ry 1st5s. 6 Wabash 18t 58..... 5 Wabash 2d §s.. 1 Western Md 4 15 Western Pacific 6s. 15 3 West Shore 1st 1 811 Wisconsin Centds. 1 78% 78% TOTAL SALES' (Par Value): 11a.m.. 3856000 12noon 5987000 8946000 2p.m.. 10812000 e i RAILROAD SHOPS OPENED. R., F. & P. Completes Part of $3,000,000 Plant at Richmond. Special Dispatch to The Star. RICHMOND, Va., January 25.—The first unit of the $3,000,000 new. rail- road shops here has just been opened officially, by the Richmond, Fred- ericksburg, and Potomac railroad. The remainder of the’plant will be completed within the next few yearw. This railroad has nos killed a passen- geér sincg it was chartered in. 1834, according to Norman Call. vice presi- dent. 10 78% .$50,000,000 BONDS SOLD Canadian Loan Big Surprise to New York Financlers. ‘NEW YORK, January 25.—Over- subscription of the Canadian Natiogal Rallways - $50,000,000 bond _iss of- fered7in Toronto, came as & surprise to New York -bankers, since Canada outside aid. ‘Local banks they ' purchas nominal b the seeurities for deposit amount of Site. of the royal courts of justice in Queen Victoria, ‘cost about $7,600,000. '] % | moderate, demand light and trading 973 |1 663 | 108% | 6% | 1 FINANCIAL. |Grain, Produce and Live Stock i LOCAL WHOLESALE MARKET. Numerous carloads of apples from | the west, New York, Pennsylvania and Virginia have reached the local | market since the Christmas holidays | and are being offered at a wide range iin rices. The supply 1s rated as | slow. | Unclassified stock in barrels are quoted as low as $2, while similar ap- ! ples in boxes sold as low as §5 cents. There 18 no scarcity of oranges or | grapefruit, Florida oranges selling at from $1.75 to 33, grapefruit bringing | about the same price. | “Pineapples, tangerines and straw- | berries are other Florida fruits on BANK PROTECTION METHODS IN SHAPE District Association Will Put New Plans Into Effect Monday—Notes. A definite and concerted mode of procedure to combat undesirable banking methods as practiced locally | the market. Pony refrigerator stock jof strawberries were quoted at 40| land 45 cents a box, tangerines at | from $2.50 to $3.50, and pineapples at from $3 to $4.50. | Eggs—Strictly fresh, selected, can- dled, per dozen, 40; average receipts, | 38; storage, 26a27. Live poultry—Roosters, per 1b., 16; turkeys, per lb., 28a30 pring chick- per 1b., keats, young, each, 23a24. H Fresh killed spring chickens, per 1b., 32a33; roast- ers, per 1b., 30a32; hens, per lb,, 26a27 turkeys, per lb., 30a35; keats, voung, each, 80a85; roosters, per lb., 20. Game—Rabbits, No. 1, per dozen, 3.00a3.60; No. 2, 1.25a1.50. Live stock—Calves, cholce, per lb., 114; medium, per 1b, 12al3; thin, per 1b., 8al0. Lambs, spring, per lb., 13. Live pigs, 3.00a5.00 each; live hogs, per 1b, 7%. Green fruits—Apples, box, 1.50a3.00; .* California crate, 3.50a5.25; Florida, 3.00a4.25. Lemons, per box, 3.00a3.50. Gr: frult, 3.00a3.50. Cranberries,, 4.5025.50 per one-half barrel. Grapes, Califor- nia, Emperos, 1.50a2.50. Vegetables—Potatoe: nearby, barrel, No. 1, 2.50a3.0 No. 2, 2.0 Potatoes, round, per bag, 3.0 sweet Potatoes, 5.00a6.50 per barrel. Southern lettuce, per crate, 1.00a2.00; Iceberg, 2.50a3.25. (‘abbage, ‘nermorn‘ 2.00a2.50 per 100 Ibs.; Flori- da, 1.75a2.00 basket; nearby, 1.00a1.50 barrel. Tomatoes, Florida, 00a5.00. Beans, southern, per basket, 2.50a4.00. Peas, per basket, 4.00a7.00. Celery, Florida, 3.00a3.50. Squash, 3.00a4.00. Peppers, per crate, Fiorida, 2.50a3.00. Eggplant, 4.00a6.00. Kale, per barrel, l.‘lfiaZ.fl’L Spinach, per barrel, 5.50a 6.00. Southern cucumbers, per bushel, 2.50a5.00. Carrots, 100-1b. k, 2.75 a3.00. Brussels sprouts, 1ga25. GRAIN AND PROVISIONS. BALTIMORE, Md.. Janua (Special) —Potatocs—White, 100 1t 1.0021.80: 150 1bs., 1.50a3.00; and yams, bbl, 2.5026.50: bu, 2.50; ‘basket, 75a2.25; beets, 100, 4.00 a6.00: beans, bu., 3.50a4.00; broccoli and kale, bu., 25a30; brussels sprouts, 10a18; cabbage 100, 4.0026.00; savoy 40a 100. 4.00a6.00 : celery crate, per basket, per barrel, oranges, per a 2.00a3.25 eggplants, .00; lettuce, bas- ket, 1.00a1.75; onions, 100, 6.00a8.00; parsnips, basket, 56a65; peas, hamp 3.00a3.50; peppers, crate, 2.2 spinach, bu., 1.50a2.00; squash, crate, 2.0023.00; tomatoes, crate, 2.00a5.50; turnips,” bu., 35a40. . Apples—Packed, bbl., 2.00a5. 50a1.50: loose. per 100 Ibs., 1.2541.65 box apples, 1.50a2.25; cranbeérrics, bbi 6.00a10.00; grapefruit, box, 1.75a2.00: oranges. 'box, 1.75a2. pineapples, crate, 3.00a4.50; strawberries, quart, | 40245, cucumber: bu., 2.25a Settling Prices on Gra Wheat—No. 2 red winter, spot, }1 13%: No 3 red winter, Spot, Ro quo- i tations; No. 2 red winter, garlicy, do- jmestic. 1138 : export, no quotations; i1No. 3 red inter, garlicky. spot, no ! quotations . 4 red winter, garlicky, spot, no quotations. Sales—None. Corn—Cob. new, 4.35a4.40 for yel- | and 4.20a4.25 per barrel for white; {No.' 2 corn, spot, * No. 3 corn, spot, 87%: track corn, yellow, No, 3 new, 91a92, == Sales—None. Oats—No. 2 white, 5 {new, 5435a55. | Rye—Nearby, 75a85 SOE. = _ Hay—Receipts, 113 tons. T is little life in the hay mar anflfipl ent offerings of descriptions are am- ple for trade wants. DPrices are steadily hela on top grades, but dam- {aged hay is hard to move at any price. Quotations—X, timothy 25.00 per ton: , 26.00227.0 3. 23.00a25.00: No. 1. light clover. { mixed, 25.50a26.00; No. 2 {a23.00; No. 1 clover, m }25.50; No. 1 clover, 24.50a25.00. i Straw—No. 1 straight rve, 24. 5.00 per ton; No. 1 tangled rye, 15.00 No. 3 white, . 2 rye, spot, a { 17.00a18.00. i DAIRY PRODUCTS. { BALTIMORE, Md., January 25 (Spe- cial).—Live poultry—Turkeys, pound, 18a35; voung chickens, 18a30; leg- horns, 18a22; old hens, 18a25; leg- horns, 18a20; old roosters, 14al3; ducks, 20a28; geese, Pair, 23a30; guinea fowl, each, 30a60. Dressed poultry—Turkeys, als: chickens, 24a? old roosters, 16; ge 28a35, ; Eggs (loss off)—Native and nearby firsts, dozen, 37; southern, 36. Butter—Creamery, good to faney pound, 48a53; prints, 53a35; nearby Creamery, 42a45: ladles, 30a32; rolls, 35a30; store packed, 25: dalry prints, 23a%0; process butter, 3. . 18a22; cupons, TODAY'S CHICAGO PRICES. CHICAGO, January 25.— Although corn opened with an upward tendency today, the market soon receded as a result of heavy selling on the part of large holders. The selling appeared to be of a profit-taking character. Meanwhile reports from Des Molines, Towa, and Lincoln, Neb., which said deliveries from farms were increas- ing, attracted considerable notice. On the other hand, bulls contended that from present prospects the winter accumulation of corn at Chicago and at other visible supply points will be the smallest in years. Opening prices which varied from the same as v terday's finish to % higher, May 80% a 80%, were followed by & moderate setback all around. Wheat was relatively neglected. The market at first sympathized with an upturn in Liverpool quotations, but this was quickly offset by the decline of corn. After opening unchanged to a3 higher, May 1.09%al1.09% and July 1.07%al1.07%, wheat sagged some- What. ! "Oats paralieled corn, starting at % off to %up, May, 48%248%, and later showing a general drop. Provisions, like hog values, held steady. FOREIGN EXCHANGE. January 25, 1924. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checl London, pound. Montreal, dollar. Paris, franc.... Brussels, franc. 1725 0193 1268 (0000141 “00040 Stockholm, crown . By the Associated Press. | NEW YORK, January 25.—Foreign exchanges irregular; quotations (in United States dollars): Great Britain, demand, 4.32%; cables, 4.22%; sixty- day bills on banks, 4.20. France, de- mand, .0447%; cables, .0448. Italy, demand, .0433}4; cables, .0434. Bel glum, demand, .0404; cables, .0404%5. Germany, demand, ' .00000000000023 cables, .00000000000023. Holland, de- mand, .3701. Norway, .1876. Sweden, .2588." Denmark, .1631. Switzerland, Spain, .1265. " Greece, .019: .00000011. _ Czechoslovakia, Jugoslavia, .0114%. Austria, QSoooi4, Rumanid, 0050% = Argen tina, .3362, Braall okio, 44%. Montreal, .97 9- The Tower of London., covering an den rails, fo a precinct in itself, 16.00; No. 1 wheat, 16.00; No. 1 oat, | 17a20; pigeons, | has been outlined to the District Bankers' Association, and will be put into operation on Monday, next, ir was learned this morning. The plan, which is comprehensiva as to detail, is specifically directed at worthless and “insufficient” or “no account” items. By the former is meant accounts that are managed at an actual loss by the institution, while the latter terms are self planatory. Miss Grace Bromley, new- ly appointed assistant secretary of the assoclation, will act as a clearing house and dispenser of all informa- tion in the execution of the plan. ‘Will Fight Worthleas Accounts. In the matter of *worthless” ac- counts a standardized method of clos- Ing such items has been outlined, consisting of a serfes of three form letters, with final action embedded in the final message, while fraudu- lent checks drawn on “insuficient funds” or “no account” items will ba treated in the following manner: The drawer will immediately notify assistant secretary that “So and with no account, has drawn a check, whereupon Miss Bromley wiil immediately put every member Insti- tution on guard by imparting this information to the parties concerned She will keep a card record of information coming from the member banks, and in due time an interesting record will be built up. It is assumed that under the first plan many losng accounts now on the books of the various institutions may and will be turned into satisfac- tory accounts. Fraud Detection Sought. Tt is also asked that member banks communicate to the assistant secre- tary, by telephone or by mail. any attempted fraud which may come to the attention of the institution. No specified form is provided for this in- formation. At a later date, after tha office gets to functioning smoothly. the information furnished by tha member banks and now in the posses- sion of the protective committee will be bulletined to the various banks In a “one week check-up,” con- ducted a few months ago, it was found that 1,837 “insufficient funds” checks were drawn, while fifty-three utterly worthless ones were presented for payment. . Plans Entirely Legal. The association promises that what is here above outlined is only the forerunner of several things whil will be designed to relieve the mem ber banks ot their burdens, anxieties and responsibilties. H Legality of the exchange of con- fidential lists of names of depositors who draw checks against insufficient accounts and of persons drawing lchecks upon banks in which the:x jhave no accounts has been passed jupon by Frank J. Hogan, association counsel, who finds that it is not only {entirely legal, but “would seem to be dictated by sound business and bank- ing principles.” Moody's Weekly Review. Moody's Weekly Review of Finar- cial Conditions in its current issue says in part: “The advent of a labor ministry in Great Britain should be taken as a striking illustration of the fact that nothing but_inflation can provoke liquidation. This event, which in jmost_ any previous age would have been thought sensational, was accom:- panied by nothing worse than a re- {action in forelgn exchange bil “Cheapness of money and capital is becoming a stimulant to general | trade, and trade needs this stimuiant i Unemployment in_the manufacturing industries now exceeds 5 per cent: and no distinct improvement is to be {expected prior to March. I *“The petroleum industry is evi- dently getting back toward a pros- perous condition. Crude prices went too low last year; production i5 no- s0 excessive as It was; and we ara soon to enter the season of expanding demand for both crude oil and gaso- line." Trading on Local Exchange. Well_diversified trading at strong prices ruled on the Washington Stoclk Exchange this morning. Lincoln National Bank stock was bid up to 330, with no sales, s ‘Trade continues to lean heavily Lo utility issue: Railway preferred was off slightly to 1%, with Capital Traction unchanged at 96i. Gas 5s brought 931, the 65 100% and %. and ratlway 4s sold at 71%. City and Suburban 5s were in good demand ar 15, with Telephone 6s selling at §7%. District National Bank changed hands at 162, Laston at 72% and Mer- genthaler at 157. 300.0045 OIL SHARES SOLD. NEW YORK, January 25.—The Marland Ol Company announced to day that it had sold to J. P. Morga: & Co. 300,000 shares of stock here- tofore unissued and given an option to the Morgan Company on an addi- tional amount of the company's shares. It is understood the Morgan purchases are for the Standard Oil Company of New Jersey. = STEEL EARNINGS GAIN. Bethlehem Corporation Reports Fine Business Year. NEW YORK, January earnings of the Bethlehem Steel Cor- poration in 1923 totaled $37,373,228, a gain of $17.579,516 over 1922, Eugene G. Grace, president, reported to the directors yesterday. The Increase, however, was partly accounted for by the absorption of the Midvale, Cam- bria and Lackawanna companies, whose business helped to swell the corporation’s income. Net earnings in_the last quarter of 1923 were $9.- 935,147, as compared with $10,518,931 in the preceding quarter. N.Y. Stock and Bond Averages. Thursday, January 24. STOCKS. stock sales, Net Total 1,0 shares: Twenty industrials averaged 99.04; net gain, .88. High, 1923, 105.38; low, 85.76. Twenty rallroads averaged $3.54; net gain, .13. ® High, 1923, 90.51; low, 79.53. BONDS. Total bond sales (par value), $13,963,000. Ten first grade rails averaged $7.02; net gain, .16% Ten secondary rails averaged 84.06; net gain, .03. Ten public utilities averaged 87.13; net galn, .15. Ten industrials av ges 94.33; net loss, 98. Comblned average, 8 .met average month ago, year ago, $8.18.