Evening Star Newspaper, February 18, 1924, Page 22

) i TRADIG N STOGKS 5 MUCH CONFSED Selling Side Favored Most as Week Opens—Some Strong Spots. BY STUART P. Special Dispateh to The Star, NEW YORK, February 18 day's fluctuations represented con- flicting views of the stock market position following the violent break of last Friday and Saturduy's par- tial recovery. The majority opinion vas, however, that the campaign for higher prices had definitely cked and that on rallies plenty of stocks would be found for sale. Sclling Side Favored. Proceeding on this theory. the trading clement was inclined to favor the sclling vide. and this was what showed in the movement af the day rket letter writers, including some who had been vel bullis o top prices of Januar WEST. To- been upon the meant t months murket structure had b etied and no lon ravorable outside new there a disposition to favorable outlook for was simpl o nf the ing temp rily least, counted the business situation, Copper Prices Advan The price of the coppel meta continuing its advan Tred ed conts a po d. This, however, to evoke. much response in the per group. Partly this was due to the unpropitious conditions in the zenertal ma nd partly to the dis- ppointing showing in the Porphyry Copper statements for the fourth quarter of 1 ases were shown over th iod of the previous year. but ther « a heavy falling of compared with Utah carned §1 | in the thre mber . while s mnet income actly cut in two. Shares Weak. Aeveloped Th the aves, but for no have not long been sold on th tec come weak- sponsive Nowher belittl busines: murket overdis ed i cop- as rubber N reasons known. and tive which Dupont i AICh & Dye (4). FINANCIAL, Open. High. Adams Exp (6).. Air Reduct (4).. Ajax Rubber. ... 8% 9% 8 69% 113% 4% 95 18% 38% 44% 33% Al C&Dpf (7) Allis-Ch-Mf (4). Allis-C M pf (7). Am Agri Chem. .. Am Agrl Chem pf Am Beet Sugar. Am Bosch. ...... AmBrS&¥ (). 7% AmCan 16)..... 114% Am Can pf (7)... 112% AmC&F (12).. 165% Am Chain A (2), 228 Am Chicle 18% Am Cot Oii of. Am Drug Synd. .. Am.& F.P.25% pd Am Hide & Lea... Am Internation. . AmLaF FE (1), | Am Linseed. Am Locomo (§) .. Am Metal (3)... i Am Radiator (4) 101 {Am Saf R (50¢).. 6% 14 62% 38 577 Am Ship & Com.. Am Sm & Re (5) Am Stl Fdys (3). Am Sugar. .. Am Sumat Tob... 22% Am T & Tel (9)... 128% Am Tobac (12) .7 147 Am Tob B (12).. 145 Am Water Wks.© 42 AmW Wopr (4), 66 Am Woolen (7).. 73 Am Zinc 9% Am Zine pf. 34% Anaconda Cop... 40% Arm pf Del (7). 92% Asso Dry G (5)... 87 Asso Oil (1%4)... 3 AtT &S Fe (6) AT&STFpf (5). Atl Birm & At. At Coast L (7). Atlan Fruit efs. .. AtGuit& W I At Gulf & W Ipt. Atlantic Ref (4) . Auto Sule: . Auto Sules pf. ... Auto Knitter. . I3ald Loco (7). Ral & Ohlo (5) . Bul & Ol pf (4) Hang & Arpf (7) Barnsdall A Bayuk Cigar. . ... B'ch Nut (2.40) . Beth Steel (5) . ... Beth St pf (7) .... B Emp Stee . Br'k Edison (8). Brk-Man Tran Br'k-Man Tr pf. ¢ hizh & rred held up il following ost of the tement that ex- normal progra If so desired, dividends. The pool it Congol avorite o d nmew sme payment on back im pushed to dis- for the Among emical fell sharpl American W common soid at 40, as a last previous sale. { Wall Street Feat Associated Dry Good ~d up over a point, b The buying s upon kunow of the ex- . o be re . ome in 192 s approximately §3.000,000 above that of the preceding twelve month while n is belicved to have been about $200,000 zreater, Karnings of close to $18 per sharé on the com- mon are expected to be di In 1522 the net was around $1 Comparativ ¢ little attention wa paid to the sfactory earning statement for 1923 published by the Foundation Company. The report showed net results of §10.55 a shar on the 40,000 shares of no par stos H as against $4.63 a share in 1 The | more favorable carnings position had evidently been quite fully discounted. Pure Oil below 24 w no excep- tion to the gengral trend of the oil shares. The recent talk about favorable production and the pros. pects of a high return on the com- pany's investment in the Humphreys Oil were forgotten. The proposed sale of three of Pure Oil's subsidiaries | is expected to bring nsiderable ! amount into the parent company's! treasury. Professional tre would have 5 in order present p the specialtie | Work its mmon | ad this up- t in thei 4 Busi onditions hi nged, nor | were they expect The | political outlook wi 1proved—that is. the way Wall street views it—by | the resignation of the Secretary of | the Navy. i Stocks Lowest at Close, { 1ling was extremely heavy in the hour, and it wus then that the low prices were made. Declines of to 5 points occurred among the ctive leaders o arly all of them went below m figures. The afternoo g eral and uniform ths Eroup of s stood out more con- spicuously than the rest. Haldwin Locomotive sold below 120 for the first time th year. Steel common dropped bencath 103, where it was well under the low figure of Friday. SHARP BREAK AT CLOSE. ; Oil News and Foreign Exchange Cause Heavy Selling. i i By the Associated Press, i W YORK, F 15.—Stock | prices fell back sharply again today under the weight of a large volume of realizing sales and short selling, zpparently based on the latest Wash- ington oil developments and the acute weakness of French and Belgian trancs. Selling pressure was spread over a wide list but was most ct ' ive In the speculative industrials Sales approximated 1,150,000 shares. | The closing was weak. Offerings were Increased in the final hour and the list cintinued to sag with Liggett & Myers, General Elcctric, United States Cast Iron Pipe and Nash Mo- tors selling four points or more below | Saturday’s final figures. WORK ON WHEAT .~ DUTIES NEAR END) The Tariff Commission neared the end of its work on the wheat duties today and is expected to maKe its report to the President within two weeks. All data gathered by the Wheat Coun- «il of the United States and arguments in favor of a rate advance under the _flexible provisions of the tariff act were presented to the commission by Repre ,sentative Anderson of Minnesoti, pres ident of the organization, and former Senator McCumber of North Dakota, its attorney. The commission, which has com- pleted its independent investigation of production costs, will make no recom- mendation in its report to the Presi- dent, but its information is said to indicate that an increase in the wheat rate will be found justifiable. The rato is fixed at 30 cents a bushel in the law, and may be revised to the ex- tent of 50 per cent of that amount by executive action. The commission announced it had concluded an_investigation into the cost of tho production of flour and other wheat products and would make pablic its preliminary findings prob- ably tomorrow. From the Mutual Magazine. 01d Maid—I suppose you have been in the Navy so long you are accus- tomed to sea legs? Middfe—Lady, 1 wasn't even look- . jc { Crucible St1 (4) { Gt North pt (6) BKiyn Un G (8) .. Brunswick Term. Burns Br (10). Burns Br B (2) But C& Z (50c).. Butte & Superior. | Butterick Co. Caddo Cen O & R Packing (6). ‘al Pet (1%) al Pet pf (7). Callahan Z Lead. n Pacific (10) . se Threshing Cent Leather Co. Cent Lea Co pf... Cent Rib Mills. Cerde PasC (4). Chand Mot (6).. Ches & Ohio (4) . Ch & O pf (6% Chicago & Alton. Chic & Alton pt Chic & East Il.... Chic Gt West.. ... Chic Gt West pf.. Ch Mil & St Paul. Ch Ml & St P pf.. Chic & Nohthw > R1& Pac.... CRI&PDI(6). CRI&PDE (7). Chile Cop (2%).. 28% Chino Copper. 198 CICC&StL (4) 108 luett, Peab (6). 72 Coca-Cola (7)... 3 Colo Fuel & Iron. 26 Colo Southern 27% Col G & E (2.60). 86% Col Carbon (4) 50% Com Solv A (4).. bl% Comp TabR (6). 94% Congoleum (3).. 64% Conley Tin Foll.. ~ 11 Consol Cigar. 16 Consol Gas (5) 63% Consol Textile. 6% Cont Can (4) 624 Cont Can pf (7).. 107% Cont Motors. . . 7Y% Corn PrR (19)... 178% Corn PrRnw wi. 85% Cosden Co. . 34% 64t 87y 78 Cub Am Sug (3 Cuban Cane Sug. Cub Care Su pf. Cub Dom Sugar Cuyamel Fr (4) Davidson Chem De Beers Mines. Del & Hud (9). Del L& W (6). Dome Mines (2). 17% Doug-Pectin (1), 11% Du Ptde N (8) ... 129% DuPdeNdb (6) 86% EastK (15%)... 109% Eaton Ax (2.60). 22 ETSt Bat (156%) 624 End-Jokn (6) 63% Erie. . 26's Srie 15t pf. 82 Erie 2d pf. 284% Famous Pl (8)..._ 66 Famous PI pt (8) 89 AM&SDL (7). 46 Fifth Av B (64c) 12 Fisher Bdy (10). 192 Fisk Rubber. 8% Flchm'n (13%). 48% Foundation (6). 70% Freeport-Texas,. 10% GenAmTC (3). 44% Gen Asphalt. 40 Gen Asph pf ( 75 Gen Cigar (8)... 91 212 11% Gen Blee (8). Gen El spe (60c). Gen Mot (1.20) ... Gimbel Bros. Glidden Co. Gold Dust w. Goodrich. Goodrich p! Goodyear pf Guanby Consol. Gray & Davis 49 12% 34 22 76% 43 17% Ve 5% 20% 95% 16% Gr Nor Ore (3)... Grt Westn Sus. Gr Canan Cop. Guantan Sugar... Gulf St 5t1 (4) .. Habirshaw EI C.. Hartman Co (4). Hayes Wh'l (3) Homestake (6) Housen'd Pr (3). Houston Oll. . Hud Mot € (3) ... Hupp Mot C (1). 16% Hydraulic Stipf.. 6 Iilinois Cent (7). 102% IndOfl &Gas.... 7% Indiahoma Ref.. 1% Indian Motorcye. 22 Indiun Refining.. , 4% Inger R (128) ... 165 Inland Stl (2%). 86% Ans Copper (2).. 27% Interb Rap Tr. 15% Int Cement (4).. 42% Int Com Eng (2) 24% Intern & Gt Nor.. 28% Internat Har (5) 85% Int Mer Marine,. 7% Int Mer Marpf... 30% Internat Nickel.. 13% Internat Paper.. 36 Int Pap pst (6) 64% ItT&T (6).... 68% Invincible Ol 13% IronProd (1%). 46 Jewel Tea....... 20% Jones Bros Tea.. 28 Kan City South.. 18% Kayser Jul & Co.. Kayser pf (§).. 47 b4% 824% 0% 26% 8% 9% 8 69% 118% 4T% 25 18% 88% 4% 8813 % 116% 112% 165% 22% 18% Low. 7 %% T4 87% 113% 46 95 13 38% 42% 325 T7% 110% 112% 163 22% 18 10% 5% 26 11 85% Close. 7 76 % 67% 113% 46 95 13 38'% 42% 82% 1% 111 12% 163 22% 18% 10% 5% 96 114 b8% 95% 5 5 11257 112% 144 52 14% 52 ¢ 121% 5% 25 16% 39% 27% 46% 58% 71 h 102% 44 10% 23 5% 11% 141 23% bl% 22% 67 78 27% 19% 108 70% 72% 25% 27% 24% 50 b51% 91 64% 11 15% 62 64% 50% 107% 7 s 176 o 856 14% . 82% 614 36% 16% €6 109% 1 17% 11% 126% 86% 108% 22 60% 63 24% 30% 27% 64% 89 46 10% 180 By 46% 68% 10% 43 37% 75 0% 206% 1% 145 49 11% 38% 22 76% 42% 16 k] 656% 28% 95 16 81§ 9% % 40 45 B54% 82 67 26 15% 6 102% ™% 1% 21 4% 166 86% 26% 1% 41% 23% 28% 107% 7 175 85 33% 2% 35% 16% 66% T €9 46% 21 110% 111 17% 11% 126% 86% 108% 22 60% 63 25 30% 2% 66 89 46 10% 190 8% 46% 68% 10% 43 38 k3 90% 207% | 1% 4% 49 11% 38% 22% 6% 424% 16 % 56% 28% 95 16 8% T9% % 40 45% b4% 82 68 26 1% 5 102% ™ 1% .21 4% 165 36% 26% 1% 41% 28% 28% 32% 324 31% 31% - 1015 101% 101% 101% THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. 27% 27 24% 88 38% 36% 113 th 663 Tow, Kelly Spr Tire 24 Kenne Cop (3) Kinney G R Co. . KeystoneT&R.. 3 215 Kresge SS (8)... 300 300 300 Lee Rub& Tire.. 13% 134 124 LehVal (3%)... 704 704 68% 208 206% 2061 . % 62% b2% Lig & My B(new) 63 634 b2 Lig&Mypf (7). 117 117 117 Lig & My rts.... 26% 26% 26% LimaLoco (2).. 631 65% 64% Loewsine (2)... 16% 18% 16t Loose-Wiles Bis. 51 51 61 Lorlllard (12) ... 156% 156% 154% Louls& N'sh (6) 89': 89% &9 McCror C pf (7). 100% 100% 1007 Mclntyre (1)..... 16% 16%a 16% Mack Trucks (6) 86 8% Mack T 18t (7)... 97 97 Macy RH&Co... 63% 6215 Magma Copper.... 33% 834 Mallinson & Co... 26% 240 Man Elemd gtd. 341, Manhat Shirt (3) 384 Mara Oll Bxplor. 31 Market St Ry . 9 Market St Ry pf.. 28 MSRprof (6).. 60% Marland Ol . 38% Murlin-Rockwell 95, 83ty <on'Alkali 36 Maxwell Mot A... 50ty Maxwell Mot B... 145, May Dpt 8t (5).. 90 Metro Ed pt (7).. 92 Mex Seabourd. . . Mex Seaboard cf, Miaml Cop (2)... Middle St Of) MStP&SteLL(4) Mis Kan & Tex Mis K & Tex pf| Missouri Pacifl Missourl Pac pt... Mont Power (4). Montgom Ward. Moon M (+31) . Mother Lode (1) Nash Mot (1812) Nat Acme....... Nat Biscuit (3). Nat Dairy Prod.. Nat Dept Store Nat En & St (1) Nat Lead (8). Nat Ry,M 2d pf... Nat Supply (3)... Nev Cons Cop. NOrT& M (7). N Y Air Br (4). NYABra(4). N Y Central (7). ¥ C-Readg rts. NYC&StL(6). NY C&StL pf (6) NYNH&H.... N Y Ont & West., Norf & W (18)... North Amer (2). North Am pf (3) North Pac (5) Ohio Bdy & B! Okla Pr & RA..... Orpheum (1%)... Otis Elevat (8).. Otis Steel. . Otis Steel pf. Owens Bot (3) Pacific Coast PacG & E (8) Pacific Mail . Pacific Oll (2) . Packard (1.20) . Pan Amer (8). . Pan Amer B (8). Panhan Pr & Re. Penn Rallrd (3) Penn Seab Steel. Peop Gas Ch (7). Peoria & East. .. Pere Marq (4).. Pere M prpf (5 Phila Co (4) Phila & R& T Phil Mor (50c).. Phiilips Pet (2. Phillips Pet rts. Pierce-Arrow. Dlerce-Arrow pf. Pierce Oil. = Plerce Oll pf. .. .. Pitts Coal (4 Pitts Utll (+95¢). Pitts & West Va. Postum Cer (4) .. Press StiC (4) Prod & Refiners.. Pub Ser NJ (4).. Pub S NJ pf (8). Pullman Co (8) Punta Al Bu (3). Pure Oll (1%) Pure Oil pf (8) Ry Stl Spg (8) Ry StSgpf (7).. Rand Min (235) . Ray Cons Cop. Reading (4). Reading rts...... Read 1st pf (2).. Read 2d pf (2) Remington Type. Replogle Steel. .- Rep Ir & Steel. Rep1&Spt (8 Reynolds Spr (2) Rey TobB (3)... 704 T Rey Tobpt (7).. 117 117 Roy D'tch (3.46). b54% 65% Rutland pf...... 30% 36% St Jos Lead (12) 26% 26 StLSanFran... 22 22 StL-San Frpf... 44 44 St L Sothwest.... 38% 381 StLS'thpf (5).. 60% 60% Santa Cecllia.... 2% 2% Savage Arms. 46% 45% Schulte (§8).....103 103 Seaboard AlrL.. 9 9% Seab'd AirLipf.. 20% 20 Sears Roe &Co... 90 Seneca Copper.... 5% Shattuck-Ariz. 64 Shell UnOil (1).. 18% Simmons Co (1). 22% Simms Pet...... 1l% Sinc Con Ol (2). 21% Skelly Ol ..c00e 25% S'oss-Shef Stl. ... 61% Soss-Sh pf (7)... 8¢ So P Rico Su (6) 81 South Pac (6)... $8% Southern Ry..... 46% South Ry pf (5). T1% Spicer Mfg. Stofl Cal ( StOlNJ (1). StOINJIpL (7). Sterl Pr (16%) .. Stew't War (10). StrCar (19%) ... Studebaker (10). Studebak pf (7) Submarine Boa Superior Oil. Sweets Co of Am. Tenn C&Ch (1). Texas Co (3).... Tex GS (16%) ... *Tex Pac Lt Tr. . Texas & Pacific. . Tex & PacC&O. The Fair (7).... Third Avenue. Tide Wat Oil (4) Timken (13%).. Tob Prod (8) . Tob Prod A (7).« Tob Prod pf (7) .. Transcont Ofl. ... ‘Underwood (3).. Un Bag Pa (6)°. Un Paclfic (10) .. Un Pacpf (4)... Un T Carpf (7). Utd Alloy 8tl (3). United Drug (6). Utd Fruit (10) UDlstpf (3% Tnvest... 44 101% 101% 121 121 62 62% 24 24 95% 95% 112% 112% 116% 116% 33% 33% 12% 124 b5t 55W 17% 17Th 36 36 84% 34% 42% 434 11% 11 567 57 93 93 16% 16% 8% 1013% 101% 110 110 10 10% 8% 85 2% 2% 9% 9% 43% 43% 64 64 270, 270 23% 23% 12% 13% 103 103 10% 10% 188% 188% 38 38 65 656 90 90 113% 113% M 4y 1% 415 61 61 131 131 78% 73% 107% 107% 84% 36 82 82 193 193 48 48 9 9 38% 33% 1 7 85 85 1% 1% 76% 77 102% 102% 102% 104 105% 105% 87% 3T% 87 87 23% 28% 106 106% 119% 119% 68% 8% 20% 20% 31% 31% 26% 26% ™ USSteel (15%). U 8 Steel pf (7) .. Utah Copper (4). Utah Securities.. Close. 24% 8% b6y 274 300 12% 68% 3| Proof of the truly astonishing suc- 115 89% 11y 33 6255 |} 24 60% 1% 40% 52% 54 34w 43 101% 118% 59% 231 95% 112% 115% 334 1% 540 16% 36 8¢ 42 11 547y 93 16% K u7 653% 8 ; From Liverpool. ) vance STAR, WASH ALLOTMENTS FIXED OF JAPANESE LOAN Industrial Companies Order Many Bonds—Home Is- sues Are Active. YV GEORGE T. atch to The Star. Y YORK, February 18.—It was stated In responsible bunking quar- ters toduy that allotments on the $150,000,000 thirty-year 6% per cent | Japanese recoustruction loan aver- age in the neighborhood of 60 per cent. The allotment percentage Is MUGHES. cess which attended the largest for- cign loan brought out in this coun- try since the war. Of course some allowance must be made for the probability that some ankers centering subscriptions for their, customers applied for more bonds th actually expected to ake up. as the terms of the offering e quite attractlv i known, however, t indus- to bene- will from the new liberally to the bonds. taking an estimated amount of $50,000,000. Present Quotation: The new Japanese bonds were quoted on the stock exchange today when issued” basis at 925, or fraction above the subscription price. The premium the bonds com- mand is duc probably to buying by bankers to fill out quotas of custom- That premfum appears on its substantiate im of Jupanese bankers that the Japanese Kovernment paid too high a price for the money it borrowed In this coun- try. The 1905 to” this Japanes was sold ussian war loan nrl this country on a 5. However, it was revenues from the v, which were pledged government, wher as the sole security behind the pres- | ent loun is the credit of the Japanese ’ government. Foreign Bonds Steady. A severe break in both French and Belgian exchanges to new ord levels for all tim n flected in the market for bonds of untries. rench government ds were only a small fraction der their previous clo Belgians also were steady. In domest bonds the market w 1. irregular. Low in good demand, rd Air Line issues. bonds Tnational Great cted. Cop- mpathy of the metal. i n Erancisco Int ments higher rise in price onds were ste bout unchang Northern per bonds with the Sugar were dy. Liberties COTTON GOES HIGHER AS WEEK BEGINS Opening Trading Shows Gains Due to Expectedly Firm Cables ¢ tie Associated Press. NEW YORK, February expectedly firm Liverpool cables were folloyed by active covering in the cotton market at the opening today. First prices were firm at an advance of 43 to 60 points, except for November, which was 73 points higher, and May contracts sold at .15 on the call. or 70 points above Saturday's closing. an_active buyer here, with southern and tions w 18.—Un- Liverpool was but houses western connec- ore sellers at the opening ad- and _prices soon eased _off junder renewed liquidation, with May |selling, down to” 160 and July to 30.45 before the end of the first half hour, or within 15 points of the previous cloge. Private cables sald that rumors that the British dock- ers’ strike had been settled w confirmed, but Liverpool was tive buyer here and continental buy ing was reported in the Liverpool market. i New Orleans Prices Higher. NEW ORLEANS, February 15.—As Livegpool came in much better than { | due, “particularly on the old crop deliveries, the cotton market opened 42 to 48 points higher on the n positions and 30 points up on O tober. Liverpool appeared to be in- fluenced mainly by - unfavorable weather in the belt over Sunday, as there were no developments in the dock strike, which is still on. After advancing 4 to 8 points_additional right after the start, the market eased off gradually on realizing, some hedge selling and sales by short scalpers. The market then quieted down and was steady at the end of the first half hour of trading, May at 21.22 and July 30.33. Noon Bids on Cotton. NEW YORK, February 18, futures, " 1 March, ‘31 October, 2 with Cotton d. 27.13; December, 26.65. ‘W ORLEANS, February 1 Cotton futures, noon bids—Stead: March, 31.3 U. S. TREASURY CERTIFICATES (Quotations furnished by Redmond & Co.) ——Noon, Maturity. 43¢s March 15, 1924 4lgs March 13, 1924 4 June 16, 1024 June 13, 192 188 Beptember 1 December 15, 107 %45 March 15, 1025, 4igs Jupe 13, 1923, fs December 15, 4 March 15, 192¢ 41(s September 15, l":l March 15, 1027 4143 December 15, 100132 100! 1001632 100 1116 100° 100116 101 3.16 100 19-82 100 2332 22% 13 13% 42 28% 15% 38% 49 20% 9% 17 165 109 91 60% 17% 25% 22% 13% 14% 421y 29 16% 38l% 49 90% 9% 17 16 109 91% 60% 17% V Vivaudou {2) Wabash. ‘Wabashpf A. ‘Wabash pf B. Web & Hellb (1). Wells Far (2%). ‘West Penn (2)... ‘West Penn pf (7) ‘West Maryland.. ‘West Mary 2d pf. ‘Western Pacific. ‘West Un Tel (7). West Alr Br (8). West B& M (4) Wheel & L Er pf. Wh Eag Oil (3) White Mot (4). ‘White Ol cfs. ‘Wickwire Sp Stl ‘Wilson & Co. . ‘Wil & Co pf (7) ‘Willys-Overland. Willys-Over pf... ‘Wisconsin Cent. ‘Woolworth (8) ‘Worthing Pump.. WrigWJr(3)... 87% 81% Youngst S8&T (6). €9 69 {Partly extra. §Payable in preferred stock. Dividend rates as given in the above ta are the annual cash payments based on the Intest quarterly or Lalf-yearly declarations, Unlets otherwise noted, extra or specia } dividends are nos, lncluded. High. Low. Last. Call Money . 4% 4% 4% HOURLY SALES OF STOCKS. ilam 395000 1.D.1h.. .o 663. 400 12m......546 40 2p.m. ! % l'Atlantic Refin 55 D. C MONDAY, FEBRUARY 18, 1924 [sxzw sorx BONDS 7o ssumr] ived by Private Wire Direct to The Star Office. (Bales are in §1,000.) H UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 98-3 means 98 3-32.) Bales. High, Low, Closs, 31 99-4 99 994 Lib1st4%s 13 99-7 99-2 99-3 Lib2d4%s... 1050 99-5 99-1 99-1 Lib3d4%s... 76 100 99-31 98-31 Lib4th 4%s.. 727 99-7 99-3 99-4 US4%s1952.. 23 100-4 100-2 100-4 FOREIGN. Sales. High. Tow. Close. 3 101 100% 100% 5 80 80% 17 86 86 37 100 100% 35 98 98% 2 100 100 2 n 1 10 6% 7% 8% T8% 93% 94 974 99% 101 s Lib3%s...... Argentine 7s Argentine s Austria 7s Relglum 7 Belglum 6: Belgium $s Bern 85 Bordoeaux 6s. . Brazil Brazil 8s. Brazil 7 Canada 58 1926. Canada 5%s 1929, . Canada 5519 *angda 58 19 Chile 85 1948 Chile 85 192 Chile 88 1941. Chile 75 194 : Chinese Gov Ry 58 Copenhagen 5%:s.. 3 Cuba 5%s. 208 Czechoslovakia 8s. 11 Danish Munic §s A Denmark 83 Denmark 6s h Bast 1 Gs h East I 65" French Govt 8s French Govt 7 99’ 9974 103% 102% 103% 94% 414 88% 103% 103% 9474 41 88 92 95 107 107% 94 934 2 21 4 .12 12 891 Japanese Japanese 4s. Japanese 6145 Jergens U M 6s " Lyon 6s Marseille 6s. Mexlco 45 ontevideo 8% 75% 578 Paris-Ly 70 5-Med 6s. Yas. 2 Queensland 7 Queensland 6. .. . Rio de Jan 85 1946. Rio de Jan 8s 19 1tio Gr Do Sul s 10 Paulo State 105% Ud Kingm 51 Ud Kingn Uruguas Zurich 8 Ajax Rubber s& Am Agr Chem Am Chain = f 65'35. Am Cotton Oil 5s.. 1 Am Smit&R 1st bs. 18 Am SmIt&R 6; Am Sug ref 6s AnmT&Tcy AmT & Tel trbs.. AmT& Teltris AT & Tdeb 5%, Am Water Wks 5s Am Writ Paper 6s. Anaconda cv db Anaconda 1st 6: 1 mour d Oil 65. . Barnsdall s f §s. lyn Ed gen Bush T Bldg alif Pete 6 : entral Leather 5s ‘erro de Pasco §s. le Copper 6s 144 100% { Commonwth Con Coal Md 1st 53 Cuban-Am Sug 8s. 943 105% 92 1071 104 108 9134 Det Edison ref 6s. Donner Steel Du Pontde N : Duquesne Light 65 11 Cst Cuba Sug 71:8. 38 Empire G&F Fisk Rubber 8s a Elee deb & Goodrich 61 Illinois Bell 1st 5s. Int Mer Marine 6s. Int Paper1st5s A. 1 Int Paper 18t 5s B. KCP&LtssA Kayser (J) 7s.. Kelly-Spring 8s Lackawa S 53’5/ Liggett & Myrs 5s. Magma Cop cv 7s. . 2 Manati Sug sf 714s 1 Marland Ofl 7%s. . Marland Oil 8s'31. Midvale Steel 53 Montana Power 84% 91 115% 100% 100 104% 89% 954 8115 98% 1115 105% 1071 943 913 102 107% s 95 100 Y Edsn 1s N Y Tel 6s'41. Am Edison 6s. ... Nor States Pow 6s. Northwst B Tel 7s. Otis Steel T%s Otis Steel 8s. Pacific Gas & E15 Pacific T & T s Phil & Rdg C&I 5s. Phila Co 614s'38. Phila Co ref 6s A Plerce-Arrow §s. Producers & RI §s. Public Service 5s. . Pub Ser Elec 63 wi. Punta Alegre s Saks & Cosf 7s. 1 Sindlair O11 7s. 81 Sinclair OI1 6 20 Sin Crude Oil 51s. 39 Sin Crude Oil 6s... 4 Sin Pipe Line 5s... 28 South Bell Tel 5s.. 3 Southwest Bell 5s.201 Steel & Tube 7s... 2 Sug Est Orlent 7s.. 3 Tenn Elec Pow 68, 72 Tide Wat Ol 6%s. Toledo Edn 1st 73 Unlon Bag & P 63 Unit Drug cv 8 U S Rub 1st rf 68 U S Rubber 7%s USSteelsfbs.... Utah Pow & Lt 5s. Vertientes Sug 78, ‘Va-Car Chem 78. Va-Car Ch 718w ‘West Unlon 6%s. . Westinghouse 75. ‘Wickwire Spen 7s. Wilson & Co 1st 6s ‘Wilson&C ov 7%s. ‘Wilson & Co cv 6s. Youngstn S& T 6s. 11 VISIBLE GRAIN SUPPLY. NEW YORK, February 18.—The visible supply of American grain shows the following changes, in bushels: Wheat decreased 1,160,000, Corn increased 1,666,000 Oats de- creased 295,000. Rye increased 411,- 000. Barley decreased 395,00 Lucky for the Artist. From the Boston Transcript. Dauber—The fact is, not one pur- 9 1% 93% 91 100% 79 2 35 10 2 4 2 16 83% 97% 82 951 95% 93% 93 104 974 954 103 107% 97 113% 113% 86%. 854 106 106 102% 102% 88% 881 94 94 94 80% 80% 801 638 109% 107% ki3 9% 971y 90% 96 103 1071 97 113% 85% 106 102% oo T LY (S IO ] 11 chaser in ten knows a good picture |erty had been based, the Supreme n & case brought by uthwestern Railway from a bad one. Jovial Visitor—Bit of luck for some of you fellows, whati it {Ore-Wash Istrf 4s RAILROADS. Bales. Hij Atchison gen 4s... 26 Atchison adj 4s... 3 Atlantic CL 1st 4s. 3 AtlanticC Ll 4s.. 29 B&Oprin3ys 8 B&Ogold 4s B&O6s.... B&0cvils B& Oref 5s. 2 B&O PLE&WYV 4s, B&OSW aiv 31is B & O Toledo 4s. . . Bklyn-Manhat 6s. BKIRT 7821 ct st. Canadian North 7s Canad North 6%s. nad Pac deb 4s. ar Clinch & O 6s. Cent of Ga 6s.... Central Paclfic 4s. Ches & Ohlo ev s, Ches & Ocv 4%s.. Ches & O gn 43gs. ., 1& Alton 3s.... hi & Alton 3358, hi& E Tl gn s. .. ent West 4s. Chi GrWest 45 (n), Chi M & St Prf 4 hi M & St Pev gs. CIM & St P 4s " Chi M&S Plev 435, Chi M&ST P 4s°34. Low. 86% 80% 867 82 97% 82 101% 86% 86 8014 7% ~eSaSunann, 8- ©38 - - o N o etneGt a4t Gigs. . Chi & W Ind cn 4s. CCC&StILrf6s A. . Cleve Term Colo & Sou 4%4s. . Cuba R R §s. Del & Hd 1st rf 4 Del & Hudson 5%s. Den & Rio G en 4s. D & Rio G imp bs. . 3; rio 1st con 4s rie con ext 7s rie gen 4s. .. rie conv 4s B rie conv4sD. .. r Trunk sf db s Grand Trunk 7 Gr North gen 78 orth gens Hud & Ma ref Hud & Man uj 3s. . 111 Central ref 4s. . 111 Cent ref 58 '55. . 111 Central 5i3s. Int Rup Tran 5s. .. Int Rap Tr 55 stpd. Tnt Rap Trans 6s. Int Rap Tran Int& ¢ 5 Int & G Nor 18t 65. El S S e EloaZasBann~amain awlmnSana n Clty Term 4s Lake Shore 45 °25. S| 1 hih Val Louis & Nash 51zs. Louls & N 58 2003. o Manhat Ry en4s.. Market St'en 5. Mil EI Ry & i 5s MK&TprinisA. MK&TIstds.... MK &T4sB. MK & T adj & Mo Pacific, 6: Mo Pacific g 9 oo NOTex & Min 5s. Y Cen deb 6s Y Cendeb 4s Y Cenrids. Y Cent cn 4s'9 ew Haven c d 6: ew Haven d 4557 ew Haven 7s. ew Haven 7s fr.. ew York Ry rf 4s. Y Ry rf 4s ctfs ew York Ry aj 5s. Y State Ry 4123, Y W & Bos 4%s.. orfolk & W cv 6s. Northern Pac 4s Northrn Pacri 6s. Northern Pac 55 D. Ore-Short Lref 4s. toSan o 'ennsyl gen 5s.... Pennsyl gen 4138, vl 645 Pennsyl gold 7s... Pennsyl con 41cs. . Perc Marq 1st 5s.., Reading gen 4s.... Reading gn 41:swi. RIATk & Ldlas. StL&STFplasA StL&SFoprinbs. StL &S Finc 6s. StL & i D * BoRSrRafaloal avowasSiie St PUn Dep 51:8. an A & Arn P 4s. Seab’d A Liref 4s. . Seab’d A L adj 5s. Seab'd A L con 6s. Sou Pacific 4s 1929. Sou Paclfic ref 4 Sou Paciflc clt 4s. Southern Ry 1st bs. Southern Ry gn 4: Southern Ry 6%s Southern Ry 68 ct Third Ave ref 4s. Third Ave adj 5s... 12 Tol StL & W 4s 2 Unlon Pac Ist4s... 6 Union Paclistrfd4s 2 Union Pacific ev 6s. 7 Union Pac 1st rf 58116 Virginia Ry 1st 6s. 12 Va Ry & P 1st 5s. ‘Wabash 1st 5s . Western Md 4s. Western Pacfic 55. ‘West Shore 1st 4s. Wheel & LEcn 4s. Whel & LErf4k%s B8% 67% Wisconsin Cent 4s. 1 79% 79% TOTAL SALES (Par Value] o 28 86 96% 69% 102% % 97 b4% 474 6% 90t |3 108% 100% 93% 89% 98 61% 838 80% 64 617% 83% 80% 65 Close. 8614 80% R6% 82 7% 82% 101% 86'% 86% 801a 97% 67% 8% 96% 118% 112 11a.m..3415000 12noon b 339000 1pm. 6277000 3pm.... Eenitn B FOREIGN EXCHANGE, Nominal gold value. . $.5665 4.20% 132 Rome, Zurich, 1787 Athen ‘o167 2271 000015 Prague. crown ‘Warsaw, mark Copenhagen, crown. Christian! Stockholm, crown. By the Associated Press. 9715 | (Quotations furnished by W. B. Hibbs & Co.) Selling checks today. 8 .m:;?.'ey. rillion NEW YORK, February 18.—Foreign exchanges irregular. demand, 4.29%; cable day bills on banks, 4. mand, .0419%; cable demand, .0429; { glum, demand, .03 Germany, _demand. cables, .0000000000002: mand, .3722; Norwi Sweden, demand, mand, .1563; Switzerland, demand, .0168; Poland, 0290 4 Austria, demand, .000014; .3387; Brazil, demand, demand, .45; Montreal, .97 1-3 S Quotations (in 881 | United States dollars): Great Britain 4.291%; sixty. %; 0000000000002 Holland, de demand, .1318 Denmark, de- demand. 96% | .1732;" Spain, demand, .1270; Grecce, demand, .00000011%; Crechoslovakia, demand, Jugoslavia, demand, . 4 Rumania, d, .0051 Argentina, demand, S *% & .1200; Toklo, 0132; COURT DENIES RAIL DATA. Railroads under tho jurisdiction of the Interstate Commerce Commissian cannot compel the commission to fur- nish them in advance of the formal hearing the data upon which the ten- tative valuation of the railroad prop- Court ruled to the St. Louis Companys FIN C {Grain, Produce and A ~ F Live Stock LOCAL WHOLESALE MARKET. Bad weather early this morning did not have the effect of boosting cgg prices. Last week the egg market showed an upward tendency and deal- ers sald such condition was only tem- porary. This morning dealers quot- ed the product at 2 cents lower than last week's prices. No change was reported in the con- dition of the poultry market. Chicken | Prices probably will not drop the next | fow weeks, dealers stated, the sup- ply being short and hardly equal to demand. ‘Turkey prices this morning were what they were at the close of last week’'s market. The supply of the king fowl is holding up well, and dealers have falrly large supplies in storage. Eggs—Strictly fresh, selected, can- dled, per dozen, 40: average re- ceipts, 38: storage. 28a30. Live poultry—Roosters, per 1b. 17 turkeys, per Ib., 23a30; spring chick ens, per 1b., 30a32; keats, youns, each.' 60a70; fowls, per 1b., 2 Dressed ' poultry — Fresh - kille: spring chickens, per 1lb. 3Zad: roasters, per lb., 32a33; hens, per 1b., 27; turkeys, per ib., 28a32; keats, youne, each, 80ass; roosters, per Ib. Live stock—Calves, choic 13a14; medium, per Ib.. 12al13; thin, per 1b.. 6a8. 13, Live pigs, hogs, per Ib. Green _fruits—Apples, per b: 6042.00; box, 1.50a3.00; per barre! a6.00. ‘California oranges, per crate, 3.00a4.00. Lemons, Grapefruit, 3.00a 5045.00 per on 3.0085.00 each; live 3 Cranberrie half barrel. Vegetables—Potato. barrel, No. 1, 2.30a. 2.00. Potatoes, round. sweet potatoe Southern lettu 3.00: Tceh 2.00 northern 50 pe ida, 2.0042.25 basket: nearby, barrel. Tomatoes, Florida. Beans, southern, per basket. Peas, per basket, 4.00a8.00. Florlda, 2.75a3.00. Squash, 3 per crate, Florida, 005.00. Kale, per barrel, pinach, per barrel, 4.50a as, pel basket, 2.00a! Southern cucumbers, p: a8.00. Carrots, 100-1b. sack. 2 Brussels sprouts, 20a30. 5.00. GRAIN AND PROVISIONS. BALTIMORE, 3 (Special). — Potato pounds, 90a1.90 sweets and yam: Baet! 0a8.50; bu., 100, 5.00a6.00. Bi 5 Broccoli and kale, bu., 130. Cauli- crate, 1.75a 6.0045.00 Lettuce, hamper. 3.0084.50. Squash. crate, 1.50a3, Apples, packed, bbl 50a1.50; box apples. 1.40a2 fruif, box, 2.00a3.00. Oranges. box, 2.2523.00. Pineapples, crate, 3.00a4.00. Strawberries, qt., 50a55 Settling Prices on Grain. Wheat—No, 2 red winter, pot, no quotations; No. 3 red winter, spot, no quotations; No. 3 red winter, garlicky, spot. domestic, 1.16; export, no quo- tations; No. 4 red winter, garlicky, spot, no quotations. Corn—Cob, new, 4.30a4.40 per ba rel for yellow, and 4.15a4.20 per ba rel for white: No. 2 corn, spot, 82%; 3 _corn, spot, 89: track corn, yel: iow. No. 3. mew, 9 Sales 1,235 bushels of at 88; 1,250 bushels of at 88, Oats—No. 2_white, white, new, 57a57%. Nearby, 15a85 Tomatoes, 40a50. 00a5.00: b . 3 white 0. 3 mixed 58a3812; No. 3 No. 2 rye, spot, Hay—R 117 tons. The de- mend for hay leaves mauch to be de- fired. While the demand is quite good for good clover mixed and No. 1 clover hay, the better grades of timothy arc in ample supply and draggy. Damaged and low grades are dull and of uncertain value Quotations—Xo. 1 timothy, 28.00 per ton: No. 2, 26.00a27.00; No. 3. 23.00225.00; 1 light clover mixed, 00a25.00; No. 2 clover, 22.00a23.00; 0. 1 clover, mixed, 25.00a25.50; No. 1 clover, 24.50a25.00. 1 straight ry 25.00 per ton; No. 1 tangled r- al8.00; No. 1 wheat, 15.50a16.00; No. 1 oat, 17.00a18.00. DAIRY PRODUCTS. BALTIMORE, February 18 (Special) Live poultry—Turkeys, pound, 18 young chickens, 20a3 old roosters, leghorns, 20a2 : ge 17a22; pigeons, pair, 30; guinea fow each, 30a60. Dressed poultry—Turkey: 18a30; chickens, 26a28; duck: old roosters, 16; geese, 18a2 28a35, Eggs—Loss off; native' and nearby firsts, dozen, 37: southern, 36. Butter—Creamery, pound, 47a52;: prints, nearby creamery, 42a46; ladles, 30a32; 27a30; store packed, dairy prints, 27a30; process butter, 3. TODAY'S CHICAGO PRICES. CHICAGO, February 18.—Incr offerings and inadequate buying sup- port led to lower prices for wheat today during the early dealings. The selling came chiefly from commission houses and from pit traders. Enlarged receipts in the southwest counted us a bearish factor. The opening, which ranged from !4 cent decline to ‘i . 1.10% to 1.10%. was follow- a moderate general setback. h only limited buying in cvi- Jence and with numerous commission houses seling, the market for corn and oats developed some weakness. Consignment notices on. corn werc rather liberal and shipping demand here slow. After opening unchanged to % cent higher, May, §0 to 80%, corn declined all around. Oats started unchanged to 3 cent higher, May, 48 to 483, and later re- ceded to below Saturday's finish. Provisions were easler in line with hog_values. WHEAT— May fuly - eptemi Eomy May July September ATE— May . July . Septem| RD— May July . RIBS- July CHICAGO LIVE STOCK MARKET. CHICAGO, February 18 (United States Department of ‘Agriculturc). Hogs—Recelpts, §5.000 head. Fui active, 10 to. 15 cents lower. ~Good and choice 225 to 300 pound butchers. 7.20a7.25; top, 7.25; better grades, 160 to 210 pound averages, 6.95a7.15; dc- sirable 140 to 150 pound averages, 6.75a86.91 packing sows, 6.10af 3 killing pigs. unchanged; strong welght, 6.00a6.50; big packers, inac- tive, taking 15 to 25 cents lower. Cattle—Receipte; 23,000 head. Fully steady on_fat steers; top matured steers, 11.50; numerous lots, 10.75a 11.25; bulk fed steers, 8.00a10.00; best yearlings, 11.25; she-stock, fully steady: bulls, strong to 15 cents higher; best heavy bolognas, 5. sausage hu!]ll:. . oo veal, cal trong: bulk to packers, i nlppgr!. upward to 12.00 and above; tockers and feeders, steady. Sheep—Recelpts, 15,000 head. Ac- tive; fat fooled lambs, fully 25 cents higher: sheep, 26 to 40 cents higher; feeding lambs, around 25 cents higher; fat wooled lambs, 14.75a15.00; choice fat ewes, 9.85; one load feed- g Tamba, 14.25, . ) 24.00a High. 111 Low. 3 1.003; 100 R 3974 2% 80ty per 1b,, |2 Tambs, spring, per lb.| s fnow . labout 1w Florida lima 150 pounds, 1.50a3.00; | .50a. ¢ TAL FEOERALANERIA ADDS 10 SURPLLS $100,000 Put on Account. New Member of Local Exchange. The Federal-American Bank has voted an additional 3100,900 to the surplus account, making this item $650,000, it was announced 1 bank officiuls this morning. This recent action of the beard together, with fts action las: June, when the annual dividend was increased from 8 to 10 per cent, glves substantial proof of the wisdo, the amalgamation some ‘time which resulted in the Federal-Amer fcan Nutic The fact that thi nereased disbursement would st llow for the transfer of so materi sum to surplus quite readily state e institution’s financial s(:ndlnt. The capital of the bank 1s .- the second largest in the Barnings are heavily in ex cess of dividend requirements. proximutel s cent being {for the v 4 Undivided total $148.000, [ Under presc sible for th lend $155,000 1o a Admitted to 1 i 6.3 *keler, vice president of the District National Bank, was today wd mitted to membership in the W ok . of fin \ditions it is p rican 1stomer. change. Wilkins nd his name bership ten R0, The governing o ange d followi oduy’s after ng that met all requiremen Mr. with the Mr, 15 years, und is on ar bankers in the eity. r of the Washington Boar: “ity Club of New York cit e Rtod and Gun Club, is Club and the Columb ub. ceded James O'Donnell of the local exchange, first taste of fire at 4 Savings and Comme 1o taken over and guara: deposit liabilities of ¢ and Suving reets northwes ’ clal Bank teed the American Bank, 7th ; it was ed this morning I Francis G. Addison, vice president « the Sccurity, The ehange went effect today Deposits of the American Comme: clab and Savi Aamounting 1o us proximately § 000, are absorbed o of hte cluse business last Sati. - day. Government Expenses Drop. Total ordinary expenses, incident Lo operating the government, amounted to $195, 0 during January, 1 . the Treasury Department announced this morning. This is a dccrease of approximately §65,000,000 over De cember. During the month public debt re- s chargeable against ordi- eipts amounted to $64,941,300. bringing total expenditure. ordinary receipts to $260.754,690, approximately $140,000,000 less than the previous month. Lessened operating costs are charg- eable to decreased expenditures the War, Navy Intrior und Agricul- tural departments; public debt inter- est payments, smaller refunds on in- e receipts, to the railroad orporation. Trading Today on Exchange, rength in the preferred fssue o ington Railway and Electric Cv.-u‘ pany_featured trading on the Washin ton Stock Exchange this morning. A total of ninety shares sold at 71, the high level on the present movement. ergenthaler Linotype was firm at thil wo shares changing hands, and ten shares of Norfolk and Wash- ington Steamboat Company sold at Ten shares of Washington Gas at as of last Saturda: trade, was record- jed on tod: record of transactions. ! Important Bank Ruling. Federal reserve banks acting collecting banks must require non- member banks to pay in cash or its equivalent checks drawn upon them or accept iiability in case other forms of settlement prove worthl Supreme Court ruled toda brought by the Federal R of Richmond, 5 Bros. A check drawn by upon the bank of Lum in favor of Malloy Bro: If()r payment by the Bank at Richmond, a draft upon the Atlantic Trust Company of Greenst When _presenied for pa Greensboro bank wired the serve Bunk that the draft was 10 £0od Befo th Federal Reservo Bank c t from the Bank of Tum- that bank went into hands and parca and war against Malloy . H. G. Balfou c. he federal courts of North Ci lina held t the Federal Reserve Bank should not have accepted the exchange draft, but should huve sisted upon currency, .and therefore must stand the loss. That de was affirmed by the Supreme Court toda; — | FRENCH FRANGS HIT § NEW LOW RECORD By the Associated Pross. NEW YORK, February 18.—Fren francs tod: dropped to u new reco‘ v low level at 1.25 cents. a decline of 12 points from Saturday’s closing price. The fall was apparently based on | the difficultics of the French govern- }ment in forwarding its fiscal program LONDOY, francs toda; February French slumped to a record o 100 francs, 25 times {n the pound. carrying with it the Belgian franc ot 116 francs, 75 centimes and sympa- thetically ‘affecting Italian and Nor- weglan exchange. Dollar exchunge dropped slightly at 4.28. SHORT TERM SECURITIES. (Quotations furnished by Bedmood & Co.) Aluniinum Co. of Amer. Alumioum Co. of Awer. American Cotton Oil 65 Americun Sugar O 10 American Tel. & Tel. \da Copper s 1 Chi., R. Du Post Tias 1631..... Edison Elec, 111, Bost. § Empire Gas & Foel 7s 1 Federal_Sugar Ref. 65 Flsher Body Corp. Fisher Body Corp. te I T. & R. 8 1 Great Northern 7s 19! Guif Ol Corp. of Pa. Humble Ol 5%s 16 Kennecott Copper 75 1060, Tibby, McNeil & Libby 7s 1831, M., St P. & 8. K. MW 1 Morrls & Co. Oregon Short Penna., R R Swift & Co. Tidewster Union Tank i U. 8. Rubber 7Ti4s 19 West Peun. Power 6s 1024, estern 1 6%s 1936...... 1003 entinghouse E. & M. 7s 1081. 1074, Wisconsin Edison Co. 08 1024... 1005