Evening Star Newspaper, February 8, 1924, Page 28

THE EVENING STAR, WASHINGTON, D. C., \|[New York sTock EX BUYING CONTINUES | INLIBERTY BONDS Received by Private Wire Direct to The Star Office . % 19% 634 33% as! in Other Issues During i 19 Today’s Trading. FRIDAY, FEBRUARY §, 1924, ON NI;LI‘O:K BONDS STOCK Excmnci I Eive Seach | Private Wire Direct to The Star Office. FINANCIAL. (BANKER ASSIGNED ' TONEW PoSTIoN Johnson Made Trust Officer at Commercial National. Other Local Notes. - (Bales are in $1,000.) UNITED STATES BONDS. (Fractions Exam) Low. Close. | 9% 794 Jones Bros Tea... ki Kansas & Gulf. .. 8% 8% Kan City South.. 20 70% 70%| Kun CSopf (4).. B3w 1}:: 114% | Kuyser Jul & Co.. 83% 13% 89 1034 % 46 HAIL!I.?':DHI‘.“ LOCAL WHOLESALE “Very draggy” was reported ar being the general condition of the meat market this morning. the de- mand being so slow that dealers raid it was difficult to quote prices Beef prices were quoted at 2 cents| cheaper than they would have been under more favorable condlitions, and | lamb was quoted at 25 cents. The; lamb market was reported as being' o MARKET. 59% 59% 86% 6% 82% 82% Open. High. Adams Exp (8).. 8t 81 Alr Reduct (4). Ajax Rubber. ... DIL SHARES AGAIN ARE HEAVILY SOLD) . Algohol and American Can El:::-;:;l;l.lg‘f'(n‘.'l Pushed Higher—Weak- |Amwri Chem o Spots in List. represent thirty - seconds. 98-3 means 98 3-32.) Bales. High. Low, . Lib3ts...... [ 9 2 oT% 97% llrregular Tendencies Noted|Libist-3aesi: 1 s9-6 83% 83 88 Lib 24 45 1 99-9 101% 101% 1014 b 24 Lib 1st 4 =15 4 Yo s (1 sorc “son 864 Lib 24 4%, 369 100 B81% ot Lib 24 43 Lib 4th 4%s..1604 99-15 99-11 97% 306 100-7 100-4 100-4 ;g:z ple: 48 | Kayserpt (5)... 101% 18% | Keily Spr Tire. 39% : Kenne Cop (3) Keystone T & €% | Kresge SS (8) Laciede Gas (7). Lee Rub & Tire.. l:mg::vrno),_ Am Beet Sugar-. . 1 Am Boseh vssn.. {AmBrS& ¥ (5) US4%s1952. Am Can t6) . 8% 9% BY STUART P. WEST. Special Dispatch to The Star. I NEW YORK, February 8.—Today's fluctuations on the stock exchange reflected quite a mixture of profes- sional sentiment over the prescnt po- sition. The cheéck to the speculation in the il shares, apparent on the preceding days, was still a feature. There was heavy selling, particularly in Paclfic Jil &nd in Phillips Petroleum. In the aoe of Pure Oil the Immediate ob- Jactive scemed to have been attained with the offering this morning of £15,000,000 new first mortgage 53 per cent bonds. % ¥ The prospectus accompanying this oftering., which is designed to help nnance the purchase of Humphreys Oll, was very flattering, both as re- zarding the vaiue of the Humphreys properties and the status of Pure Ofl itself. - Speclal Stocks Pushed. Operations for the rise were re- newed in Industrial Alcohol and in a ‘There was nothing new, however, to he sald about elther of these stocks. In hoth cases the campaign ig a lon, range one and the promoters are sat- iified to have frequent reactions and periods of suspended animation. Two stocks classed in the motor accessory group were particularly strong_and active. One was United Alloy Steel, the other Stewart-War- ner.. The argument in favor of Stew- art-Warner is that it is returning uver 10 per cent at present pricesand that, judging by the current \‘nlumei of business, the dividend is safe, lcast for some time to come. Unlon Pacific was bid up to its srevious high, but when it was found that this failed to elicit any interest an the rest of the rafls the demon- ration was abandoned. New York ntral was noticeably heavy, feel- ing the effect of sales of the stock against purchases of the rights. Low- nriced rails as a rule were neglected, despite the bullish references to this class of stocks in most of the bro- kerage literature. American Woolen Weak. American Woolen showed the ef- tect of speclal selling again in con- sequence of the uncertain trade out- look and the doubt about the mainte- nance of the full 7 per cent dividend. United States Cast Iron Plpe, after an interval of {nactivity, was bld up soarply. Hide and Leather preferred showed some strength again. But, taking the group of so-called special- tics as a whole, there were quite as many losses as there were galns. The foreign exchanges went lower agaln, with speclal weakness in francs. These were selling only a quarter of a cent above the record low of last month. before the pro- posals for fiscal reform had calmed the panic among French holders of the paper currency. This renewed de- cline in the franc coincided with re- ports of rioting in Paris The fact that the entire plant fa- i cilities of the United Alloy Steel Cor- poration have been taxed because of the unusually large demand by auto- motive makers for alloy steel prod- ucts has been taken into account in the recent buying of the stock. Oper- ating schedules of the principal au- tomobile manufacturers call for in- creased production of cars, at least early in 1924, and this means ca- pacity business for United Alloy Steel. Bookings have been so large over the past few weeks that there is a likelihood that the 1923 earnings will be exceeded. Last year net profits not only cov- the $3 dividend requirements, but an appreclable amount was left er, even, although plants were not fully occupied at various stages dur- iz the twelve months. Directors of Cuban-American Sugar are scheduled to meet for dividend action on February 20. No change in the current $3 annual rate on the common stock is anticipated. -The common was put on the dividend list last fall, and earnings last year justi- fied the step. MARKET CLOSES HEAVY. Heavy Profit Taking Factor in Lowering Values. By the Assoclated Press. NEW YORK, February 8.—Stock prices developed a reactionary trend in. today's market after an early period of irregularity. Heavy profit- taking sales was augmented by the offerings of bear speculators, who sold stocks freely on the theory that the technical condition of the market warranted a temporary reaction. Sales approximated 900,000 shares. The closing was heavy. Selling pressure In the late dealings was par- ticularly effective against the specu. lative favorites, National Lead. At. lantic Refining and American Tobacco A and B, breaking 3 to 5 points. TODAY'S SUGAR PRICES, NEW YORK, February 8.—A firmer feeling developed in the local raw sugar market early today and prices advanced % to the basis of 7.28 for Cubas, duty paid. There were sales of 17.500 bags of Porto Ricos for February-March shipment at 7.22 de- 1tvered, prompt shipment at 7.28. The firmness in the spot market led to active covering and renewed buy- ing for outside account in the raw sugar futures market. Prices at mnidday showed net advances of 14 to | 18 points. ) eog X {Am Can pr (7). i Am Chain A ¢ Am Chicle..,. Am Cot Ofl f. Am Drug Synd. Am Express (6) . Am Hide & Lea... Am Hide& L pf. iAmTee (7). ... { Am Internation. . AmLaF FE (1). Am Linseed. Am Linseed pt | Am Locomo (6) Am Metal (3) .., Am Radlator (4) Am Republics. . ., Am Saf R (500) Am Ship & Com. Am Sm & Re (5) AmS&Rpt (7). Am Stl Fdys (3) . Am StIF pt (7). Am Sugar. ... .. Am Sugar pf (7) Am Sumat Tob. .. { Am T & Cab (5). Am T & Tel (9). Am Tobac (12). more moderate way in American Can. | Am Tob B (12) | Am W W pr (4). Am Woolen (7).. Am Wool pt (7). Am Writ Pap pf. Anaconda Cop Arn Cons & Co Ass0 Dry G (5 Ass0 Oll (1%3). At T&SFe (6).. AT&SFpf (5). Atl Birm & At. .. At Coast L (7). Atlantic Fruit tlAtGuire w ! Atlantic Ref (4). Atlas Powd (4) Atlas Tack. .. Austin-Nichols. . Auto Knitter... Bald Loco (7)... 1 Bal & Ohilo (5) . Barnsdall A. Barnsdall B. Beth Steel (5) Beth St pf (7). Br Em Stl 2d pf. Br'k Edison (8). Br'k-Man Tran. | Br'k-Man Tr pt. Bkiyn Un G (8) ‘Brown Shoe (4) 1 Brown 8h pf (7). | Burns Br (10) Burne Br B (2).. But C& Z (50c) .. Butte & Superior. Butterick Co..... CaddoCenO &R Cal Packing (6). Cal Pet (1%) Callahan Z Lead. Calu & He (30c) . Can Paclfic (10) . Cent Leather Co. CRR,NJ (12) Cent Rib Mills. .. Cer de Pas C (4). Certain-Td Prod. Chand Mot (6) .. Ch&Opf(6%) Chicago & Alton. Chic & Alton pf.. Ch & Bast Il pf.. Chic Gt West. .... Chic Gt West pf.. Ch Mil & St Paul. Ch Mil & St P pf.. Chile Cop (2%3) Chino Copper. Cluett, Peab (5). Coca-Cola (7)... Coca-Cola pf (7) Colo Fuel & Iron. { Colo Southern. . . Col G& E (2.60). Col Carbon (4) ... Com Solv A (4) Com Solv B (4).. Comp Tab R (6). Congoleum (3)... Consol Cigar. ... Consol Gas (5).. Crucible St (4).. Cub Am Sug (3). Cu Am Su pf (7). ‘Cuban Cane Sug. Cub Cane Su pf. . Cub Dom Sug pf. Cuyamel Fr (4) Davidson Chem.. Del & Hud (9) . Del L& W (6). Det 1d Co (8) . Dul So Sh & Atl DuPtdeN (8)... DuPdeNdb (6) East K (16%)... Eaton Ax (2.60). El St Bat (15%) Elk Horn Coal. End-John (6) and 10,000 bags of Cuban |Erfe 0. .- Erle 1st pf Erfe2dpf.. Falirbanks Co. ... Famous Pl (8)... Fifth Av B (64c) Fisher Bdy (10). Fisk Rubber..... DIVIDENDS. Tr. Rate. Payable. Recor Sompany. At Refining.. Brooklyn C. R. R, e Cent Atk R&Lpf Q 1%% Tedera) L. & T... @ $1.00 *Federal L. & T.. ox ~ 75c Yederal L & T pf. Q 1% H; . Pl 1 Mch, ... mth bt 1 85 BB S. 0. of Kansas. Viright dera... 25c Feb. 29 Feb. 18 sPayable in 8 per cent cumulative preferred. N. Y. Stock and Bond Averages. Thursday, February 7. STOCKS. Total stock sales, 1,125,000 shares. Twenty industrials averaged, 100.91; net loss, .32 High, 1924, 101.23; low, 94.88. Twenty rallroads averaged, 84.66; net loss, .65. frigh, 1924, 85.90; low, 82.74. BONDS. Total sales bonds (par value), $17,497,000. Ten first grade rails averaged $6.35; net lozs, .17. Ten secondary rails averaged 84.41; net loss, .06. Ten public utilities averaged $7.02; net loss, .10. Ten industrialss averaged 93.80; net loss, .22. Combined average, 87.90; net loss, .13. Combined average month ago, 87.36; year ago, 83.76. Fisk RubpfA.. Flchm'n (13%). Foundation (6) . Freeport-Texas.. Gen AmTC (3). Gen Asphalt. .. .. Gen Asph pt (3). 3 | Gen Cigar (8). Gen Blec (8). . ... 2] Gen EI spe (60c) Gen Mot (1.30) Goodyear pf. G'dyear prpf (8) Gray & Davis. Gt North pf ( Gr Nor Ore (4) Houston Oll. Hud Mot C (3, Hupp Mot C (1). Illinois Cent (7). LiCenfp (6). Ind Ol & Gas. Indiahoma Ref. Indian Motorcyc. Indian Refining.. Inland 8tl (2%). Inland Stl pf (7) Intern & Gt Nor.. Internat Har (5) Int Mer Marine. »f... hterndt Nickel.. Inter Nick pf (6) Internat Paper. . Int Pap pt st (6) IntT&T(6).... Intertype (11%). Invincible Of Cent Lea Copf. .. - Ches & Ohio (4). 1 1 Dome Mines (2). Lig & My rts Lima Loco (2) Loews Inc (2, Louis & N'sh (5) McCror.C pt (7). MeIntsre (1)..... Mack Trucks (8) Mack T 2d (7) Macy R H & Co. Mallinson & Co. Manatl Sug (3) .. Man Ele md gtd. Manhat Shirt (3) Mara Oil Explor. Market St Ry. ... Market St Ry pf.. MSRprpf (6).. Marland Of} Marlin-Rockwell Mart-Parry (3).. Mathieson Alkali | Maxwell Mot A Maxwell Mot B May Dpt St Mex Sczboard. Mex Seaboard Miami Cop (2) Middle St Ofl Minn & St Louis.. Mis Kan & Tex... Mis K & Tex pf... Missourl Pacific.. Missouri Pac pf. Mont Power (4). Montzom Ward.. Mooa M (4314) .. Mother Lode (1). Mullins Body . Munsingw'r (3). Nash Mot (+813) Biscuit (). Dept Stores.. DS Ist pf (7). at En & St (4) . Nat Lead (8). ... Nat Ry.M 2d pt... Nat Supply (3).. Nev Cons Cop. . .. INOrT&M (7). N Y Alr Br (4) N ¥ Central (7 N Y C-Readz rts. NYC&StL (6). NY C&StL pf (6) N Y Dock p¢ (3). North Amer (2. North Pac (5)... Oh F Sup (235).. Otls Flevat (8) .. Otis Elev pf (6) Otls Steel. Otts Steel pt. ... Owens Bot (3)... Pacific Coast. ... Pac Coast 2d pf. Pacific Develop. Pacific Mail. . PacG&E (8).... Pacific Ofl (2)... Packard (1.20) .. Pan Amer (8)... Pan Amer B (8). Panhan Pr & Re. Parish & Bing. ... Penn Rallr'd (3) Penn Seab Steel.. Pere Marq (4) .. Pere M prpf (3). Phila Co (4)..... Phila& R&T wi. Phil Mor (30¢) Phillips Pet (2. Phillips Pet rts. Plerce-Arrow. Plerce-Arrow p Pierce Oil. . Pierce Oll pf. Pitts Coal (4) Pitts Coal pt (6) Pitts Util (95¢). Pitts & West Va. Postum Cer (4).. Press St1 C (4) ... Prod & Refiners Pub Ser N J (4).. Pullman Co (8) .. Punta Al Su (3). Pure Ol (1%).~ Ry Stl Spg (8)... Remington Type. Replogle Steel Rep Ir & Steel Reynolds Spr (2) Rey Tob B (3)... Roy D'tch (3.46) St Jos Lead (12) Santa Cecllia. Savage Arms. Seaboard Air L... Seab'd Air L pf.. Sears Roe & Co. Seneca Copper. Shell Trad (2.06) Shell Un Ol (1).. Simmons Co (1) . Simms Pet...... Sinc Con O11 (2). Sin Con O pf (8). Spicer Mg. .. ... Spicer Mf pf (8). Stand Mill (5) . St Oil Cal (2) StONNJ (1) StONlNJpt (7). Sterl Pr (15%) ... Stew't War (10). StrCar (19%)... 81% Studebaker (10). 102% Submarine Boat.. 11% SuperforOil..... 3% Sweets Co of Ama. Tenn C&Ch (1). Texas Co (3). TexG 8 (16%). Texas & Pacific. Tex & Pac C&O. Tide Wat Oll (4) Timken ('33)‘).. Transue & W Un Bag Pa (6) ... Un Pacific (10).. UnPacpf (4)... Utd Alloy 8tl (3). U 8 Food Prod. Ind Alcohol.. 80% d Al pf (7). 103% &Im (8).. 104 ibber. 38 ‘Wabash pt Web & Hellb (1). ‘West Penn pf (7) West Maryland... ‘West Un Tel (7). ‘West Alr Br (6) . 87h 111% 53 40 16% 16K 164 '110% 110% 110% 1 5% 95%, 9du West E&M (4).. 63% 68% 631 - 63312 66 160% 89 102 17% 88% 90 v 27"'!anunzs in French government and |C ) 34% 41 24% 9% 31 & |priced ralls. % {recent % ot % {The reaction which started Thursday i! The trena toward lower prices was | % |Line obligations, which carried quo- : PRICES OF COTTON 3 i Changes in Values. ;|ing oft to 33.10, or , |lower, while the new crop was rela- | By the Associated Press. NEW YORK, February 8.—Trading in bonds spread over a broad lst in today's early dealings, but lrreg- ular tendencles atill prevailed. Tak- ing advantage of the temporary hesttancy in prices, Interests handling British accounts resumed buying of liberty bonds, scveral large blocks 1of the tecond and fourth 4%s chang- |ing hands at concessions. Other Unlted States government issues also tended lower. Heaviness featured i municipal bonds and Mexican gov- ernment obligations were wealker, de- spite announcement that first install | ment on the 1924 bond interest pay- { ments had been received. High-grade domestic issues were steady, but there were numerous recessions in prices of speculative mortgages, in- cluding St. Paul rallroad liens. Prees- od Steel car 5s gained 3 points. | i MONEY MARKET UNCHANGED. | | 'LDWM‘ Price Trend Specially No- ! ticeable in Rails. 1 BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 8.— bt for certain foreign issues, bonds were heavy today and in some cases weak. tended to- day to speculative bon For this condition there was no explanation in the money market, which con- tinued unchanged. Rather, it seemed to be the cumulative effect of the! large new offerings recently put out| and of the slackening of speculative | enthusiasm in stocks. i S$t. Paul Off Oue Point. noticeable in the low- St. Paul refunding 4%:s at one time were down a point trom the previous close and there was profit-taking in all the Seaboard Air |especially tations down fractionally. Missouri Pacific general 4s reacted from their high, notwithstanding that Isentiment toward the Missouri Pacific is greatly improved. St. Louis-San Francisco income 68 sold off while the adjustments held their ground better. The upturn in New York Cen- tral debenture 65 seemed definitely to | have ended with the price today down about a point from the high. { Tractionx Are Lower. ! Brooklyn Manhattan Transit 6s! among the tractions yielded with the | rest of the market. New York rail- | ways 48 and certificates were ex- | ceptions to the general rule, going somewhat higher In response to re- ports about the new reorganization plan. Some of the convertible sugar bonds went lower, notably Punta Alegra Sugar 7s. Among the oils, Pan-American Petroleum 6i:5 were active with considerable selllug for delayed delivery, but without much effect on price. Virginia-Carolina Chem- ical issues lost ground again. There were a few strong spots in the foreign group. One of these was the, United Kingdom 51is of 1937, which went above 101. AGAIN IRREGULAR| iYesterfhy'l Sharp Break Is Fol-: lowed by Very Nervous | i { By thie Associated Press. EW YORK. February 8.—Yester-! day's sharp break was followed by | nervous fluctuations in the cotton market during today's early trading. | Liverpool did not quite meet vester- ! day's local decline, but the opening | here was barely steady, with prices | showing a further loss of 2 to 14 polnts under overnight selling or- | ders There was enough covering | and buying to cause bulges after the call, but they met increased offerings { and the market eased off to 33.33 for | May and 31.90 for July, or about 15 to 17 points net lewer. Mzrch was | relatively easy under liquidation, seli- | 22 points net! Some of the early| {selling was accompanied by rumors increasing mill curtailment in | Georgla. Reports from Fall River| sald ~mill curtailment there was! on about the same scale or slightly | heavier than last week. Prices in New Orle: NEW ORLEANS, February 8.—The tone was unsettled in the early trad- ing in cotton today, and prices swung | from net advances of 2 to 10 points s00m after the opening to net declines of 10 to 16 points a little later. March traded as high as 33.32 and as low as 83.14; October traded as high as 27.60 d as low as 27.40. Continued cold weather over the belt resulted in small buying. Estimated sales of print cloths at Fall River this week of but 60,000 pleces resulted in fairly { general selling. TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noog, —— B, Ofter. tively steady. bt 1101316 101318 * 100 21-32 100 25-32 4348 December 15, 1 WITHDRAW STOCK OFFER. | NEW YORK, February 8 —Directors of the Pan-American Petroleum and Transport Compeny today voted to withdraw the recent offer to stock- holders to subscribe to the capital stock of the Pan-American Western Petroleum Company, which was re- cently organized to develop the Cali- fornia naval oil leases. —_— Wheel& L Erfe.. 8% 8% 8% 8% Wheel & LErpf.. 18% 18% 184 Wh Eag Ol (2).. 28 28% 27% White Mot (4)... 58 ‘White Oll cfs. % ‘Wickwire Sp St ‘Wilson & Co. . Wil & Copt (7). 86% | Willys-Overland. 16% 10% 94% |11 a.m. ys~Over pt. Wisconsin Cent.- 86 % 36w Woolworth (8).. 398% 208% 208 298 Worthing Pump.. 20% 29% 28% 284 WhPpfB(6).. 62 62 B8N b8% WrigWJr(3)... 38% 88% 8% 88y Youngst S&T (6). €9% 69% €9% 69y able in tel fren’ 1o the. sbave "tanss payments the Foocho ‘Special High. Low. Last. CallMoney.... 4% 4% 4% HOURLY SALES OF STOCKS. 1p.m..... 623 £00 793 300 based on declarat, | Framerican 7%a | French Govt 88 {Barnsdall s f ts. | Sin Crude Ol 6= FOREIGN.. . Low. Close. 101 81 86% 89% 9815 100 87% % 8% 933 97 100 101 100 99% 103% 103 104% s 9% 42 107% 894 924 95 Dan Munic8sA. .. 106% Dan Munic 8s B. 107% Denmark 8s 5 1 Denmark 6s. Argentine 7 Argentine b: Austria 7s. Chinese Gov Ry &s. Christiania 8s. . Copenhagen 5%s. . Cuba 6%s c: 290 Czechoslovakix 8s. Dutch East I 6862 French Govt Japanese 2d 4453 Japanese 4s. . 8 Jergen U M 6s47.. Lyon 6s.. % Marseflle 6s. Mexico ox o Mexico 58 large. Mexico 4s.. L@ Norway 6s 1943 Orient Dev deb 6. Paris-Ly’s-Med 6s. Prague 7% et QREG~ 113 113% 111% 111% 9% 9% 93% 93% 97% 97% 101 101 86% 86% “ 91 92% 90% 86 85% 86% 8% ki 53% 53% 54 b1% 56% 7% 56 0% 79 2% e 107% 78% 80 Canadlan North 7s 30 Canad North 631 7 Cavad Pac deb 41 Car Clinch & O bs. Ches & Ohlo cv 6s. Ches & O cv 4348 Ches & O gn 4% Chi & Alton 334s. <hi B&Q gn 48 5. _ Chl B&Q 1st rf 51 Chl & ETl gn b8 th Great West 5 120 ] C M & Puget Sd 4s. Chi M &St Prf 4%e 26 Chi M&St P’ cv bi 3 Chi M&St P 48’2 Chi M&S P ov 435 Chi M&GE P 43’34 CM& St Pgn 4% CM &St Pdb 4 Chi& N W 6%e. Chi Rys6s... 2 ChiRT& Pgn 4s.. ChiRI& Pacrf4s Chi TH & SE 5s Chi Un Sta 4%s. Chi Un Sta 6%s. Chl & W Ind cn 4s. Chi & W Ind 7%s. CCC&StLrfésA . Cuba RR 58 Del & Hudson 5% Erle 1st con 4s.... Erie con ext 7s. Erlegends . Erfe conv Erle conv Gr Trunk sf db Grand Trunk 7s. Gr North gen s Gr North gen 5% Havana ERL&P ba Hud & Mun ref 58 Hud & Man 11l Cent ref 68 8% | 111 Central 5% Int Rap Tran bs. Int Rap Tr 6s stpd. Int Rap Tran 6s... Int Rap Tran Int & G Nor aj 6 Int & G Nor 1st 6s. * | lowa Cent rf 4s Uruguay S Zurich s MISCELLANEOUS. I Am AgrChem 7%s 13 AmChainsf 6833, & Am Cotton Ofl 6s.. 2 Am SmIt&R 1st 5. 66 Am Smit&R 6s Am Sug ref 6: AmT&Tcvés.... AmT& Tcltrbs.. AmT& Teltrde.. Am Water Wis 68 Am Writ Paper 6: ‘Anaconda cv db Anaconda 15t 6s. Armour & Co 43s. 1 Armour of Del G3%3 Asso Ol €s rets Atlantic Refin 55. . o7% | Bell Tel Pa 5s. ! Beth Steel 635 53. Eoth Steel rf 5. | Beth Steel pm 5s... 90% | Beth Steel s f 6s... 994 Brior H St 1st 5158, 96 Bklyn Edfson 7s D. Bklyn Ed gen bs { Bush T Eldg 3a'60. Calif Pete 63is w 1. Central Leatiter ix i Cerro de Pasco Ss.. Cuban-Am Sug s. Cuba Cane cvd 8a. Cuba Cane cv 783 Dery (DG) 7s..... . 80k Det Edison ref 6s. 1 Donner Steel j». 891 Du Pont de N ¥s. 1074 | Dagquesne Light 6s s 1043 | Est Cuba Sug 7%s. 3 75 1094 Empire G&F 7%s. 9214 Gen Elec deb 5s.... h 101% Gen Refractres 6s. 1004 Soodrich 63%s. 2 99% Goodyear 85 1531 - 102 | Goodyear 88 1941. . 116 102 (llinofs Beil 1s o Indiana Steel 5s. .. |Int Mer Martine 6s. Int Paper lst 58 A. Int Paper 1st Gs 91 103'¢ 90% 116% 9715 Kelly-Spring 8s. .. Lackawa 8 58 °50. . Liggett & Myrs 7s. Liggett & Myrs bs. Lorillard (P) s Magma Cop cv 7s.. Manati Sug st 713 Marland Of] T%s. . Marland Of! 8s '31. Midvale Steel bs Montana Power bs Morris&Co 1st 4%e New Eng Tel s. .. NY Edsn 1st 6%s. NYG EL H&P &8, NY Tel NY Tel 98 Nor States Pow Northwst B Te 7. Otis Steel 7%s Pacific Gas & El 68 20 PacificT& T 5852 14 Pan-Am Pete 6%s. 111 | Phil & Rag C&1 5s. PhilaCo 5%s "38... PhilaCoref fs A.. Plerce-Arrow 8s.. Sin Crude Oil 5% alfeaned e Sin Pipe Line bs. South Bell Tel b: So Por Rico Sug Southwest Bell 5s. Steel & Tube 7 Sug Est Orient 7s. Tenn Elec Pow 6s. Tide Wat Oll 6%s. Toledo Edn 1st 7s. Unit Drugcv 8s... U S Rub lstrfés.. ® GaRomGEo e NG | Manhat Ry cn 4s. 97tn u | Southern Ry 6s ct. 98 o7 81% i Third Ave ref 4s... » | Third Ave adj 5s. 111% [ Tol StL & W 4s. 98% I Tol StL & W 3% 105% : Union Pac cv 6 4 Kansas Citv 83 Kunsas City S & Kan City Term Luke Shore 4s ‘31 Lehigh Valley 68 Long Island rf as Louis & Nash 5% N 68 2003.. 3 93 1024 102 102 804 80% 80% 1053 105% 105% 99% 99% 99% 60 59% 60% 99% 99% 99% 23 228 28 108% 103% 103% | 874 87la 87% Market St cn 58 New Or Term 4s. 1 NOTex & Min5s. 116 e £8% | NYCenLScl3%s. 1 75 75 75 | N Y Cen deb 6s. bt 104% 104% 104% 2 90% 90% 90% 964 964 New Haven ¢ New Haven d New Haven 7s. N Pennsyl 6%s. Pennsyl gold 7s Peunsyl con 438, Fere Marq 1st 6s.. Reading gen o | Reading gn 4%swi Rio G Westclds... RIATk&L4%s... 1 St L IM&S R&G 4s. StLIM&S4s'29. 92% 80% 88% 634 760 | 6% 864 St P Un Dep 6%s. San A & Arn P os Seab'd AL 4s sta. Seab’d AL ref 4s. Seab'd A L adj os. Seab'd A Lcon 63.. 40 Sou Pacific 4s 1929, 13 1 70% 705 103% 103% 103% 97% 65 | ® 8% B5% 55 46% 46 8% T84 974 97% 9% 904 893 893 103% 103% 103% 101% 101% 101% 9 90 90 98% 98y 8945 89y 63 nion Pac 1st 4 Union Pac st rf 58 13 VaRy & P 1st bs. West Shore 1st 4 Wheel & L Ecn 4s. 1. ‘Wisconsin Cent 3 TOTAL SALES (Par Value) 11a.m.. 4997000 12noon 6874000 1pm.. 7994000 2p.m.. 9451000 2 3 2! 5 4 7 4 SHORT-TERN SECURITIES.- «Q Bla Aluminum Co. of Amer. is 1025. Aluminum Co. of Amer. 7s 1833, Americau Coiton OIl Gs 1624 1 u LaBuoucanes &Cocv s. 4 tor A 7%8 ‘oungstn S& T fs. 75 EDISON'S 1923 INCOME. NEW YORK, February 8.—With net income of $5,714,402 in 1923 the Brooklyn Edison Company reported the best year in its history. The earnings were equivalent to $13.07 a share on the $43,704,300 capital stock outstanding. Net income in the pre. Wilson Winel 9 .jceding year amounted to $4,105.407. s Libby 7s 186: T aise To01. 1050. Penn Power s %:.m-:‘i?.m!e‘. ande t se E. ; Wisconsin Edison Co. Os 1924, TOBACCO PLANTING BEGUN. ATLANTA, Ga., February 8 (Spe- clal).—Tobacco planting has begun in south Georgia on a larger scale than ever before attempted. Banks, mer- S'é&'fi"z ® a.ll weevil districts. steady. Pork prices were reported as being cheap and the market exceptionally slow. Poultry prices were slightly advanced over the prices quoted last week. Eggs—Strictly fresh, selected. can dled, per dozen, 44adi: average re- ceipts, 42; storage, 30a32. Live poultry—Rooster: turkeys, per 1b., 25a30; ens, per 1b.. 30-31; keats, young, each, 60a70; fowls, per 1b., 26. Dressed poultry — Fresh - killed spring chickens, B 1b., 2a35; roasters, per Ib., : hens, per b., 27; turkeys, per 1b., 28a32; keats, Jouns. each. 80aS5; roosters, per 1b., 0. Live stock—Calves, choice. per 1b., 14; medium, per 1b, 12al13; thin, per 1b., 8a10. Lambs, spring, per 1b., 13. Live pigs, 3.00a5.00 each; live hogs, 8. fruits—Apples, : box. 1.50a3.00; per basket, barrel, 2.00 per crate, Lemons, per box. 3.5 . Grapefruit, 3.004 3 Cranberries, 4.50a5.50 per one- ! barrel. Vegetables—Potatoes, barrel, No. 1, 2.50a3.00 2. 2.00. Potatoes, round, per bag, 2 3.25; sweet potatoes, 5.00a7.00 per bar- rel. Southern lettuce, per crate, 1.00 a2.00; Iceberg, 3.00a3.25. Cabbage, northern, 2.00a2.50 per 100 1bs.3 Flor- 1da, 2.00a2.25 basket: nearby, 1.00a1.50 barrel. Tomatoes, Florida, 3.00a4.50. Beans, southern, per basket, 5.50a5.00. Peas, per basket, 4.00a8.00. Celery, Florida, 2.75a3.00. Squash, 3.00a4.00. Peppers, per crate, Florida, 2.50a3.00. Eggplant, 4.00a6.00. Kale, per barrel, 1.75a2.00. 5 00; Texas, Southern cucumbers, per bu: a8.00. Carrots, 100-1b. sack, Brussels sprouts, 25a30. GRAIN AND PROVISIONS. BALTIMORE, Md., February Potatoes, white, 100' pounds, 90: 150 pounds, 1.50a3. sweets yams, barrel, 2.00a6. bushel, 2. Beets, 100, 4.00a6.00. bushel, 4.50a5.00 Broccoli 25a30 Brussele nearby, per No. 2, 1.50; and 1.00a, Beans, and kale, ad0 Carrots, 4.00ab.00. Celery, crate, 1.75a2.25. Cucumbers, crate, 5.00a7.00. Eggplants, crate, 4.50a5.00. Lettuce, basket, 1.6022.75. ‘Onions, 100 pounds, 150a2.75. Parsnips, basket, 50a60. Oysterplants, 100, ' 6.00a8.00. Peas, hamper, 4.50a7.00. Peppers, crate, 2.00 23.50. ' Spinach, bushel, 1.7542.00. Squash, crate, 4.00a5.00." Tomatoes, crate, 1.50a3.25. Turnips, bushel, 35 a40. Apples, packed. barvel, bushel, 50a1.50; box apples, 1. G box, 1.75a3.00. O 5. Pineapples, crate, &. erries, quart, 43a53. Settling Prices on Grain. Wheat—No. 2 red winter, spot, 1.16; No. 3 red winter, spot, 1o _quo- 2 red winter, garlicky, 1.16%; export, no Qquota- . '3 red spot. no quotations; 4 red winter, garlicky, spot, no quotations. Sales—None. Corn—Cob, new, 4.40 per barrel for liow and 4.20 per barrel for white: 2 corn, spot, 91%: No. 3 corn, spot, 88%; track ‘corn, yellow, No. 3, new, 92. Sales—Cargo of No. Oats—No. 2 white; 2.00a5.00; 2.25. 3 white at §7%. —Receipts, 96 tons. Hay gen- erally is quiet, but with no pressure on the market for the better grades of timothy, light mixed and No. 1 clover, with prices generally firm There is an ample quantity of me dium_ and low-grade hay, movement of which is very draggy. 1 timothy, .2, 26.00a27.0 No. 1 1ight clover, mix. 0. 2 clover. 22.00a Straw—No. 1 straight rye, 24.00a 25.00 per ton; No. 1 tangled rye, 17.00 a18.00; No. 1 'wheat, 15.50216.00; No. 1 oats, 17.00a18.00. DAIRY PRODLOTS. Md., February 15a30. horns, 20a24. horns, 18a20. Ducks, 22a30. pair, 30. Old hens, 18a2 g- Old roosters, 14al5. Geese, 17a21. Pigeons, Guinea fowl, each, 30a60. Dressed poultry—Turkeys, Ib.. 18a 30. Chickens, 20a28 Ducks, 28a30. 6. Geese, 18a22. Ca- Native and nearby southern, 40. —Creamery, good to fancy. 1b., prints, 53a55; nearby ¢ |creamery, 42a46: ladles, 30a32; rolls, 25a30; store-packed, 25a26; prints, 25a30; process butter, 39. CHICAGO LIVE STOCK MARKET. CHICAGO, February 8§ (United States Department of Agriculture). Hogs—Recelpts, 60,000 head: slow 10 to 15 lower; good and choice 240 to 300 pound butchers, 7.20a7.30; top. 7.30: desirable 160 to 210 pound aver- ages, 7.00a7.15; packing sows, 6.20a 6.40;" killing pigs unchanged: good and’ cholce strong weight, 5.7526.00; big_packers doing little. Cattle—Receipts, 10,000 head; beef steers mostly steady to 25 off; lower grades showing most decline; rela- tively few steers here of value to exceed 10.00; bulk early sales, 7.50a 9.25: ' some ' welghty _steers held around 10.50; fat she stock 10 to 15 off; canners and cutters kteady; bulls steady to weak: bulk bolognas, 4.50a 4.85; heavy beef bulls downward to 4.65; vealers unevenly higher; pack- ers buying best handy weight offer- ings, 12.00a12.25; shippers paying up- ward to 14.00 and about; stockers and feeders dull. Sheep—Recelpts, 10,000 head: steady; best to shippers, 14.75; good kind to packers, 14.00814.50; handy weight fat ewes, 8.50; around steady. TODAY'S CHICAGO PRICES. CHICAGO. February 8.—Corn took a downward swing In price today during the early dealings. The sell- ing was_ based largely on reports that conditions were more favorable for movement of the corn cre After opening at % to % lower, May 51 to 813, the market underwent some further decline. ‘Wheat and oats receded with corn. Heavy shipments of wheat from Ar- gentina a bearish influence. ‘Wheat opening prices, which ranged from a shade lower to 1§ advance, May 1.11% to 1115 and July 1.11%. were followed by a setback all Iroul:ld to well below yesterday's O starter % to l4al; off. May, 49a49% to 49%, and later sagged 8 little more. Provisions were easier. pen. High. dairy fairly PARIS, February 8.—Prices were firm on the bourse today. Three psr cent rentes, 54 francs 25 centimes. Exchange on ".ondon, 94 francs. Five ser cent loan, 70 francs. The dollar was quoted at 21 francs 81% eenumu‘-. inter, garlicky, | | his annual Hayden Johnson has been elect trust officer of the Commercial ) tional Bank, it was announced b: the Institution’s officfals this morn ing. Tho Commercial was recently vest ed with trust powers by the Federu! Resorve Board and is now qualified to act as trustee, administrator, re- ceiver, guardian, etc. It was said that the general routine of the bank’s new functions would be cared for by tho bank's existing official personnel, under the active super- | vision of Mr. Johnson. { The new department tunctioning immediately. muixbury New B will begiu Director, | _Ix-Senator Willard Saulsbury was | ®esterday clected to the board of directors of the Washingfon Loa: and Trust Company to fill the eeat |left vacant by the late Charles B. i Bailey. Mr. Saulsbury was affiiliated witn the du Pont interests at Wilming- jton. Del, prior to his election (o jCongress in 1913. He maintains resi- dence fn this city in addition to home in Wilmington. Increase in Hesources. | The bank call of December 31. last | has revealed an Increase in the ag- | Bregate resources of the country s natlonal banks of $421,171,000 during 1923, ‘This was announced last night by Controller of the Currency Dawes who reported the total resources to be $22,406,128,000, the greatest since the call of December 29, 1920, Deposit labilities of the nationa banks on December 31, amounting o . 1$17,825,861,000, were greater than al lany call date’ in history except thu! \of December 31, 1919. This repre- ents an increase of $788,331,000 since the call of September 14, but an in- crease of only $408,380,000 over the lend of 1922 because of the reductio: {in deposits during the summer pro ducing season, when heavy calls were made for funds. Thompson Taxation Chairman. Eugene E. Thompson, president of the Washington stock exchange. ha- been appointed chairman of the fed- eral taxation vestment America, John . Prentiss, president of Ui Investment Bankers' Assoclation, hus made up the personnel of the various committees, That on foreign securi ties consists of Charles H. Sabi chairman: Albert H. Wiggin, Morti- L. Schiff, Moreau Delano, Howard n W. Kreck, Charles E. S. Sargent, jr. Seward Prosser, Clarence Dillon, Thomas W Lamont, Elisha Walker, H. L. Stuart H. C. McEldowney of Union Trust Company of _ Pittsburgh; Herbert Flelschhacker_of Anglo, London; Pari Company of San Francisco, and Alvin P. Howard of Hibernia Securities Company of New Orleans. The committee on railroads is comi- posed of Ray Morris of Brown Bros & Co., chairman; Samuel L. Fuller of Kissell, Kinnicutt & Co., F. M. Weld jof White, Weld & Francis 3 i Brooke of Brooke, Stokes & Co., Phila deiphia; B. Howell Griswold of Ales- ander, Brown & Sonms, Baltimore {Thomas Newhall of Drexel & Co. Philadelphia; J. J. Hanauer of Kuhxn, Loeb & Co.; George Whitney of J. P Morgan & Co., J R. Swan of Guar- anty Company and W. L. McKee, Na- tional City Company. Trading on Local Exchange. Stock of the Union Trust Compahi | gained approximately 2 points on the {local toard this morning, featuring he trading. It opened on an elght- {share sale at 163% and closed at 160 after sixty-three ‘shares were sold. Lanston gained a half point to 74*: as did Washington Gas stock to 491 Capital Traction was off to 95% and Merchants Transfer and Storage sold at 110, Eond trading confined itself to fu- vorite issues at unchanged prices. Banker at Palm Beach. R. Golden Donaldson, president and chairman_of the board of the Com- | mercial National Bank, is at Paln: Beach, Fla, for several months o1 -acation, B FIRM TO REORGANIZE. !Sonorn Phonograph Company's Plans Announced. NEW YORK. February §.—Reorgan- ’iuuon of the Sonora Phonograpi Company, according to plans an- nounced by bankers, provides for the {issuance of additional stock to ac- i quire Somora, Inc, and to raise $400.- 000 through sale of 55,000 shares to stockholders. g A total of 80,000 new shares will br issued, of which 25,000 will be used in exchange for stock of Sonora, Inc commlittee of the Ini- Bankers' Association of i PURE OIL ISSUE SOLD. {$15,000,000 Bank Offering Quickly Taken. NEW YORK, February §.—Th banking _syndicate _which offercy $15,000,000 Pure Oil Company 5% per {Cant bonds, priced ~from. 9662 ' to 1100.25, to vield from 5 to 7 per cent over maturities running to August 1 1926, reported that subscription books {had been closed within & few minutes [after the sale opened today. ~The bonds were issued as part of the purchase price of the Humphreys Of Company. FOREIGN EACHANGE. { (Quotations rurnished by W. B. Hibbs & C Nomioal Belling checks gold value. ay. 486805 430 100" et Is Lerdon, pound. Montreal, doliai Parls, franc. Brussels, fra s Berlin, per trilliox. lira “04381 a7 Copenhagen, crown. Christiania, crown. Stockholm, " crown.. By the Associated Pre: NEW YORK, February 8.—For exchanges easy. Quotations (in Unitid States dollars).—Great Britain, demand 4.29%5 ; cables, 4.29%: sixty-day Dbills on_banks, 4.27%. France, demand ‘ables, .0454. Italy, demand, bles, .04381¢. Belgium, demand. i ables, .0403. Germany, de- man 0000000000021 ; 00000- 000000021, Holland, ‘demand, .3743. .1341. Sweden, .2624. Den- 25. Switzerland, .1742. Spaln, .0177. Poland, 00000012 cables, Austria, .000014. Rumania, .0061%. Ar- gentina, .3350. Brazil, Tokio. [0045%. Montreal, .97 1-1 ———— FAILURES ON INCREASE. ‘ NEW YORK, February 8.—Busincxy failures In January were the heaviest | recordea for twenty-two months, ant llabilities were the largest for any month since October, 1907, according to Bradstreet's. January is ordinarily a large month In this connection, the review explains, due to ordinary ear-end liquidation and the windin !p of unsuccessful enterprises, which had survived earlier stress. Failures for January totaled 2,258. an increase of 21.5 per cent over De- cember, 1923, and of 2.4 per cent over ‘January, 1923, but a decrease of 17 per cent from January of 1923.