Evening Star Newspaper, February 19, 1924, Page 22

22 DILS ARE STRONGER INSTOCK MARKET Industrial Shares Hold Up Better Than Railroad Is- sues on Exchange. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, Febryary 19.— The market today was agaln considerably unsettled, but operations for the de- cline met with more resistance. When the rise started last October the industrial shares were the plo- neers, and it was not until some time Iater that the rails commenced to fall into line. Naturally the same order of events has applied in the down- ward turn of the last fornight. Rail- way shares held up much better than the industrials in the break of last Friday and the secgndary decline of Monday. But today.s number of the rails underwent their delayed read- Justment. Erfe Shares Heavily Sold. Among them were the Eries, which were heavily sold, and Chesapeake end Ohio, which dropped very sharply. Atchison wi off nearly five points from the top. This was regarded as the atonement for the rise across 102 in face of very positive statements by the head of the company that no in- crease in dividends was contemplated. Seaboard Air Line issues, on the other hand, continued to hold up remark- ably ‘well, and there was no further telling of Northern Pacific because of the dispute which has arisen with the government regarding the right of the railroad to a large section of its land grants. Baldwin in Fine Shape. Baldwin Locomotive was not appar- ently influenced by the excellent report for 1923, the stock merely moving with the rest of the market. Earnings of 25. a share against $19.03 the year before were in line with the highest ex- pectations. The contrast between cur- Tent assets of $53.863.000 and current i s very striking. Locomotive 0,000 Polish , 443,000 re- main(ng Treasury notes It was the originally large holding these securi- ties which made Baldwin finances the obect of criticism three vears ago. On the other hand, setting aside of a year's dividends at the rate of 7 per cent bears out the recent state- ment attributed to the President that 1o increased distribution is likely yet awhile, and even at 120, down 11 points from its recent top, Baldwin Locomotive returns less than 6 per cent. 01l Shares Stronger. ) Among the oils the strength of the pan-Americans was the feature. The &hort interest in these stocks has been reputed larger than in anything else on the list, and doubtless short Covering was majnly responsible for the advance today. But with the pan-Americans going up, which have more at stake than anything else in the oil-lease scandal, this could no Tonger be loglcally uéed as an argu- ment against the ofl group. The stocks all seem to be receiving better support around their low levels, the contention being that the statistical position of the oll industry is just as good, If not better, than it was when speculative excitement w running high in the oi] shares market a month sgo. ‘The rapid development of the franc financial crisis was the event of most sfenificance in the situation today. The decline in the franc to new low levels nd the panic on the Parls bourse, where everybody seemed to be selling French securities at once in order to puat their money Into forelgn issues, were occurrences sen- sational enough to overshadow any- thing else that happened. However, much interest also was taken in the unfolding of the situa- tion on the New York Stock Ex- change. How far the recent yviolent decline was due to the Senatd Inves- tigation into the oil scandal and how far to conditions within the market itself was a question which continued to be keenly debated. Asnoclated Dry Goods. The 1923 income account of Asso- ciated Dry Goods, showing net earn- ings of $17.85 a share on the common after all charges and after allowing for dividends on the two classes of preferred, bore out predictions that the vear would prove the largest in the company's history. During 1923 the parent company cased its investment in Lord & from which it receives first second preferred dividends regu- s, to_a point where Associated Goods owns 86.12 per cent of the outstanding capital stock. In the twelve months it acquired approxi- mately 150 shares of the first prefer- red, 132 shares of second preferred and 331 shares of common stock of the latter. Congoleum In Sharp Break. Because ‘Congoleum was a con- #picuous point of strength in Mon- day's crumbling price list, its sharp break today was almost equally as noticeable. Its advance of 1% points to a new high Monday while other pool favorities were slipping away led to the assumption that the inter- ests behind Congoleum had no inten- tion of getting out. The stock broke about 3 points soon after the open- ing today then encountered sup- port. ~ Earnings are understood to be sufficient to cover the 3 per cent divi- dends, but with only & moderate bal- ance to spare. With the floating sup- vly appreciably reduced, it has been simply a case of speculative interests being easily able to influence the movement of the stock. Late Trading Improves. There was no suggestion in the aft- ernoon stock market of a resumption of the speculative campalgn which culminated two weeks ugo. What oc- curred was a moderate recovery in recognition of the fact that the bu: ness outlook and the money position had not changed, and were, in fact, quite as favorable as they had been when speculative Wall street was at the height of its enthusiasm last month. From the January highs to the February lows the decline ran from 5 to 10 points among the lead- ers of the 1ist, or about a third of the entire gain since October. This seem- ed to have appealed to many as a very substantial recompensation for recent speculative extravagances. MARKET CLOSES FIRM. Leaders Do Better in Trading in Late Afternoon. By the Associated Press. NEW YORK, February 19.—The rest- less shifting of speculative operations from one group to another caused early irregularity today, but the afternoon trading was featured by a sharp ad- vance in most of the rceognized lead- ers. Late buying was fostered by President Coolldge’s statement of busis+ ness conditions, the apparent elimina- tion of weak speculative accounts and a marked subsidence of recent concert- ©d bear pressure. Sales approximated 1,050,000 shares. The closing was firm. The steel group, especially Colorado Fuel, were in the van of the rise in the final hour which carried many stocks 1 to 2 points over yesterday’s final figures. DEMAND FOR LOCOMOTIVES. NEW YORK, February 19.—The business in railroad equipment is larger. At present inquiries for new locomotives total about 300. The New York Central is said to be in- quiring for 100 engines, in addition to 69 recently ordered. Other in- quiries include 30 for the Seaboard Air Line, 25 for Atlantic coast and a similar number for the Florida East Coast, 10 for Rock Island and 30-for Hlinols Central, FINANCIAL.' Recelved by Private Wire Direct to The Stat Ofice . Bigh. Adams Exp (6) .. Alr Reduct (4) .. Ajax Rubber. Alaska June AICh & Dye (4 AIC&Dopt (7).. Allis-Ch-Mf (4) . Am Agri Chem. . Am Agri Chem pf Am Beet Sugar. Am Bosch. ...... AmBrS&F (5) AmCan t6)..... Am Can pf (7) AmC&F (12) Am Chicle. . . Am CotOfl cf. ... Am Cot O}l pf cf.. Am Drug Svnd AmForPfpd... Am.&F.P.25% pd | Am Hide & Lea... Am Hide & Lpf.. Am Internation. . |Am LaF F E (1) i Am Linseed Am Locomo (6) . | Am Radiator (4) {Am Saf R (50c). Am Ship & Com... Am Sm & Re (5) Am Stl Fdys (3) Am Sugar...... Am Sugar pf (1) Am Sumat Tob. .. Am T & Tel (9)... 1 Am Tobac (12).. Am Tob B (12) Am Tob pf () Am Water Wks Am W Wopr (4). Am W W ist (7) Am Woolen (7). Am Writ Pap pt. | Am Zincpr.. Anaconda Cop. Ann Arbor pf.. .. Arm pf Del (7) ... Arn Cons & Co. .. Asso Dry G (5) Ass0 Ofl (13)... At T &S Fe (). AT&SFpf (5). Atlantic Fruit. .. Atlan Fruit ofs AtGuIf& WI. At Gulf & W T pf Atl Powd pf (6 Austin-Nichols Auto Sales. Bald Loco (7)... Hal & Ohlo (5). .. | Bal & Oh pt (4). Bk of Com (116). Burnsdall A. Bayuk Cigar. B'ch Nut (2.40 Beth Steel (5) . Reth St pt (8) ... Br'k Edison (8). Br k-Man Tran Br'k-Man Tr pf. Burns Br B (2).. Burns Brpf (7). But C& Z (50¢).. Butte & Superior. Cal Packing (6) Cal Pet (1%) Cal Pet pf (7). Callahan Z Lead. Can Pacific (10) . Case J I Plow. . Cent Leather Co. Cent Lea Co pf. .. Cer de PasC (4) Certain-Td Prod. Chand Mot (6).. Ches & OMlo (4) . Ch&Opf (6%).. 1 Chicago & Alton. Chic & Alton pf. Chic & East 111. Ch & Fast Ill pf. Chic Gt Wes Chic Gt Wes Ch Mil & St Paul. Ch Mil & 8t P pt. Chic & Nohthwt.. Ch & Nwn pf (7) ChicR1& Pac.... GRI&PDL(6). CRI&PDL (7). Chile Cop (2%)- Chino Copper. ... CICC&StL (4) Cluett, Peab (5). Coca-Cola (7). Colo Fuel & Iron. Colo Southern. .. Col G & E (2.60). Col Carbon (4)... Com Solv A (4) Com Solv B (4) Consol Textile. Cont Can (4).. Cont Can pf (7) Cont Ins (6) . Cont Motors. Corn PrR (19) Corn Pr R nw wi. Cozden Co. Crucible Stl (4) Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pt.. Cub Dom Sugar. Cuyamel Fr (4).. Davidson Chem. . Del & Hud (9) . Del LEW (6). Det Ed Co (8) . ! Dome Mines (2). Lu Ptde N (8)... Du PdeNadb (6) Bast K (15%) . 1St Bat (1o% £nd-Jokn (5) Erie.... Erie 18t pf Erie 2d pf. Famous Pl (8). Famous Pl pf ( FdM&SPL (7). Fifth Av B (64c) Fisher Bdy (10). Fisk Rubber. Fisk Rubpf A.. Fl'chm'n (13%). Foundation (6) . Freeport-Texas Gen Asphalt. Gen Asph pf (5 Gen Cigar (8). Gen Elec (8) Gen El spe (60¢) Gen Mot (1.20) Gen Mot db (7) Gen Refr (4) Gimvel Bros. .. Glidden Co. Gold Dust w- Goldwyn Pict Goodrich. . Goodyesr pt Granby Consol. Gt North pf ( Gr Nor Ore (3). Indian Motorcyc. nland Btl (2%). 1ns Copper (2) Interb Rap Tr. Internat Ag new. Internat Ag pf. .. Int Cement (4) 1nt Com Eng (2) Intern & Gt Nor. Internat Har (5) 84% Inter Har pf (7) 108 Int Mer Marine.. 7% Int Mer Mar pf... Internat Nickel Internat Paper. IntT&T (6).... Intertype (11%). Invincible Ofl. . Iron Prod (1%). Jewel Tea.. . Jones Bros Tea. - Kigney G RC0o.« 76% TT% kL 1 Low. Close. | 76% 16% | % ey 1 68% 1134 454 12% a8 43 33 7% 112% 12% 163 18% 11 33 5% 95% 96% 11 59% 21% 10% 18% 7248 THE EVENING STAR, WASHINGTO NEW YORK STOCK EXCHANGE |, Keystone T& R.. Laciede Gas (7). Lee Rub & Tire.. Leh Val (3%)... Lig & My (new). Lig& My rts. ... Lima Loca (2).. Loews Inc (2).. Loft,Incorpor. Loose-Wiles Bi Lorillard (12).... Louis & N'sh (6) Mack Trucks (6) Mack T 1st (7) Magma Copper. Mallinson & Co. Man F' Sup (4) Man Ele md gtd. Manhat Shirt (3) Mara Oil Explor. Market St Ry. ... Market St Ry pf.. MSRprpf(6). Marland Ofl. . ... Mar'in-Rockwell Mathieson Alkali Maxwell Mot A... Maxwell Mot B May Dpt St (5) .. Metro Ed pf (7). Mex Seaboard. ., Mex Seabuard cf. Miami Cop (2). Middie St Ojl. Midvale Steel Mis K & Tex pf. Missourl Pacific Missourl Pac pf... Mont Power (4). Montgom Ward.. Moon M (1315) . Mother Lode (1) Mulline Body Opes. High. 3 8 864 864 12% 69% 2 51% 26% 6% 16% 7 51% 54 89 83% 97 a3y, 24% 3774 34% 37 29 9 Nash Mot (18%) 105% Nat Biseutt (7). Nat Bispf (7). Nat Dairy Prod Nat Dept Stores, Nat En & St (4). Nat Load (8) ... 3% 1391 t Lead pf (7). 114 Nat Ry.M 2d pt.. Nat Supply (3).. Nev Cons Cop. ... NOrT&M (1) N Y Air Br (4) NYABra (). N Y Central (7). N ¥ C-Reade rta. NYC&StL (6). NY C&SIL pf (6) N 'Y Dock pf (5). NYNH&H. N Y Ont & We: Norfolk South. Norf & W (18) . North Amer (2). North Am pf (3) North Pac (5)... Nunnally Co. Okla Pr & Ret. Onyx Hoslery Orpheum (1% Otis Elevat (8) .. Otls Steel. . Otis Steel pf Owens Bot (3).. Pacific Coast. Pacific Develop. PacG&E (8) Pacific Oil (2) Packard (1.20). Pan Amer (8).. Pan Amer B (8). Parish & Bing. ... Penn Railrd (3) Penn Seab Steel.. Pere Marq (4).. PhilaCo (4)..... Phila& R&T wi. Phillips Pet (2) Pierce-Arrow. Plerce-Arrow pt. Pierce Oil. . Plerce OIl pf. ... .. Pitts Utll (t95¢). Pltts & West Va. Postum Cer (4) .. Press St C (4)... Prod & Refiners.. PubSer N J (4).. Pub S NJ pf (8). Pullman Co (8) .. Punta Al Su (5). Pure Ofl (1%)... Ry St Spg (8). Ray Cons Cop Reading (4) Reading rts. Remington Type. Replogle Steel. .. Rep Ir & Steel. ... Reynolds Spr (2) Rey Tob B (3)... Rey Tob pf (7). Rossia Ins A (6) Roy D'tch (3.46) St Jos Leud (12) St L San Fran St L-San Fr pt St L Sothwest St L §'th pf (5 Santa Cecilia. Savage Arms. Seab'd Air L pt. Sears Roe & Co... ears Roe pf (7). attuck-Ariz. ... (2.06) Shell Un Ofl (1).. Simmons Co (1). Simms Pet.-.... Sine Con Oil (2). Sin Con O pt (8). Skelly Oll. Sloss-Shef So P Rico Su South Pac (6) Southern Ry. South Ry pf (5).. Spicer Mfg. .. +.u stofl Cal (2).. StOil N J (1) 5t Oil N J pf (7). ter] Pr (15%) .. Stew’t War (10). StrCar (19%) ... Studebaker (10). Submarine Boat.. Superior Oll. ... Sweets Co of Am. Tenn C & Ch (1). Texas Co (3) . I TexG S (16%).. ‘Texas & Pacific. Tex & PacC&0. Tide Wat Oil (4) Timken (13%).. Transcont Oil. ... Underwood (3).. Un Pacific (10).. Un Pacpf (4)... Un Tank Car (5) Utd Alloy Stl (3). 17% 65% 23% 454 627 9% 1% 26% 18 150% 2 11% 41% 101% 118% 6044 234 u7 3% 256% 1 89 114% 6 87% 17% .18 22% 11% 45 70% 14% 604 37% 118 9! United Drug (6). % 19. Utd Fruit (10). S Rubber R 1st pf (8).. S Smeltin S Sm't pf (3%3). U S Steel (16%). U S Steel pf (7) .. Utah Copper (4). Utah Securities.. Vanadium Corp.. Van Raalte. . ‘Va-Caro Chem.. ‘Va-Caro Ch pt. V Vivaudou {(3) gage ‘Wald Sys (1%).. ‘West Penn pf (7) 15 90% 13 12% a9% | 51% 25% 4% _ 654 1643 16% 7 7 51% 51% % 154 8 186 89 84y, 97 33% 24% 3% 37% 30 9 28 B9 36% | 11 1%, 564 LULL IN TRADING INBOND MARKET Absor;;tion of New Japanese Issue Being Felt—Small Investors Favored. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 19.—Al- though call money renewed today at the moderate rate of 4% per cent and time funds were unchanged, the tone of the bond market was rather heavy. Trading was comparatitvely dull. It was the consensus in investment banking circles that, pending com- pletion of the task of absorbing the huge Japanese reconstruction loan, the market would continue to move along quietly. It is traditional for the market to slacken {ts pace fol- lowing a large new emission. Small Investors Lucky. As details of the new offering come to light it develops that the small investors got the best of the allot- ment of the new Japanese bonds. In the case of subscriptions of small in- dividual investors, the allotment usually was 100 per cent, compared with an average of 60 per cent for the entire loan. That unquestionably was in pursuance of the policy of the syn- dicate managers in placing the bonds where they would stay put. Corporations obtained a smaller pro- portion of the issue than had been supposed, allotments aggregating only $4,000,000, according to banker: Corporations and large investors are not ideal lodging places for new bonds, as they not infrequently hold them only for temporary investment, whereas small individual buyers usu- ally aim o hold their bonds until ma- tuirity. The bonds again sold at 98%, or above the offering price, today. Swedish Loan Next. The next forelgn loan probably will be one to the Swedish government. However, if one is floated here it will not come out until early summer. It probably will be another dollar loan if issued. The purpose of the loan would be to stabilize exchange. A feature of the market today was the soft tone of Liberties. They were from 6-16 to 8-16 of a point lower. Untied States Treasury 4%s reached to par. European bonds, French descriptions, were npathy with a stronger foreign hange market. Ratiroad Bonds Rally. Low priced rallroad bonds rallied sharply. Seaboard Alr Line issues in particular were higher. Indus- trials were lrregular. Intérnational Great Northern adjustment bonds higher on news that interest would be paid at the rate of 4 per cent S SELLING CONTINUED IN COTTON MARKET By the Associated Press. NEW YORK, February 19.—There was @ continuation of heavy general selling in the cotton market during today's early trading. Liverpool was rather better than due, but the local market opened barely steady at a de- | cline of 32 points to an advance of 4 points, nearly all the active months being lower under overnight selling orders. There was some covering and trade buying at the start, but offer- ings increased on moderate rallies, and the market soon down to 30.10 and July to 29.30, o to 50 points net lower on the old crop positions. February 19.—The cotton market opened 5 to 8 points | down, notwithstanding Liverpool was rather better than due, and dropped 10 points additlonal during the first call on general uneasiness due to the announced resumption of {he Senate investigation of the oil scandal and cables from Liverpool reporting gen- eral uneasiness there, with the dock strike continuing. Prices soon rallied to 30.50 for March and 30.15 for May on the weather map showing general rains in the belt. The market then fluctuated nervously with active trading at the cird of the first half Lour of trading. March sold at 30.14 and May at 29.79. Noon Bids on Cotton. NEW YORK, February 19.—Cotton futures, 11.45 a.m., bids: Steady: March, 30.02; May, 30.38; July, 29.64; October, NEW ORLEANS, February ton futures, noon, bids: Stea: 30.64; May, 30.25; July 25.95; December, '25.58. SELLING RENEWED IN FRENCH FRANCS By the Associated Press. NEW YORK, February 19.—Renew- ed selling today carried French francs down 4% points to a new low quota- tion for all time, 4.08 cents. The de- cline gained headway after a some- what firmer opening. Belgian ex- change continued to decline in sym- pathy, but sterling held firm. = 7 FOREIGN EXCHANGE. (Quotations farnished, by W. B. Hibbs & Co.) Nomisal * Selling checks, gold value. today. pound. - 48685 429 dolla; < 100 : Octover, Loodon, 15 | Copenhagen, crown. Christiania, Stockholm, By the Assoclated Press. NEW YORK, February 19.—Foreign exchanges {rregular. . Quotations (in United States dollars): Great ' Britain, demand, 4.29%; cables, 4.29%; 60-day bills on banks, 4.27%. France, demand, K cables, .0418. Italy,” demand, .042815; cables, .0429. Belgium, de- .03491%; cables, .0350. Germany, demand, .00000000000022; cables, 000000~ 00000022. Holland, demand, .3719; Nor- v, .1318; Sweden, .2608; Denmark, 65; Switzerland, .1730; Spain, Greece, .0168; Poland, .0000000! Czechoslovakia, . Austria, .000014; ontreal, .97 1-32. crown. crown. White Oil. ... 1 Wickwire SpStl.. 3% 3% 3% 3% Wilson & Co..... 18% 18% 1815 184 ‘Wiliye-Overland. 11 1% 11 11% Willys-Over pt. Bd% B4% 84% 4% Wisconsin Cent.. 385% 35% 36% 35% Woolworth (8).. 289% 289% 289% 289% Worthing . 26 26 26 26 WthPptA(7).. 76 75 76 7 Wright Aero (1). 11% 11% 11% 11% WrigWJr (3)... 87% 88% 387% 38% artly extra. §Payable in preferred si Dividsad raten ol eivea 1 the shave "ot are the anoual cash payments based on the Jatest quarterly or half-yearly declarations, s otherwise noted, extra or s M D mds ‘are ‘mot included. i High. Low. Last. CallMoney.,.. 4% 4% 4% HOURLY SALES OF STOCKS. 11am.....346 100 1p.m..... 712 300 3 Mes oo 534 500 2 PMeanas 824 600, !Ny Tel6s'49. TUESDAY, . FEBRUARY I (Bales are iz $1,000.) UNITED STATES BONDS. (Fractions _represent thln{ - seconds. Ezample: 93-3 means 98 3-33.) Balas. Low. . 104 98-28 98-30 98-26 98-26 High. 29 . 29 390 99 741 100 9928 1142 99-3 98-28 - 66 100-2 100 9828 99-31 98-30 100 Austria 7s Canada 5%s 192 Canada 5s 1931 tatass nonantienoued = o e T3] 4 118 Czechoslovakia 8s. 17 Danish Munic8s A 1 Danish Munic8sB 1 Denmark 8: 6 Denmark 6s 2 Dutch East I 6s'47. Dutch East 1 68'62. French Govt 8s. .. ““rench Govt T%s. Haiti6s........ . Holland-Amer 6s Japanese 1st 4 %s Japanese 2d 41s Lyon 6s.......... Marseille 6s...... Mexico bs. . Montevideo 7s. Norway 8s. . Norway 6s 1943... Norway 6s1952. .. Orient Dev deb 6s. Paris-Ly's-Med 65.133 Prague 7%s...... 31 Queensland s Queensland 6s. ... Rio de Jan 8s 1946. Rio de Jan 85 1947. Rio Gr Do Sul 8s. . Sao Paulo City 8s. ©oR n8opmsnm Sweden 6s. . Swiss Confed 8s. Ud Kingm 5%8'37. 13 Ud Steam Copen 65 2 87 MISCELLANEOUS, Ajax Rubber8s... 1 93% 93% Am AgrChem 7%s 1 99% 99% Am Chainsf6s'33. 48 95% 95 AmSmit&R1stbs. 8 92% 92% Am SmIt&R 6s. 4 102% 102%4 Am Sug ref 6s 101% AmT & T cv 6 1214 AmT&Tel tris. 97% AmT & Tdeb 5%s Am Water Wks 5s Anaconda cvdb 7s Anaconda 1st 6s Armour & Co 4% Armour of Del 5143 Associated Oil 6s.. Barnsdalls {8 Bell Tel Pa 53 Beth Steel 5%s'53. Beth Steel rf 5s. .. Beth Steel pm 5s. . Beth Steel s f 63 Bklyn Ed gen 5s.. Calif Pete 6%s. ... Central Leather bs Cerro de Pasco 8s. Chile Copper 6s. .. Commonwth P i Cuban-Am Sug 8s. Cuba Cane cvd 8s. Cuba Cane cv 78 '30 Dery (DG) 78 Det Edison ref Donner Steel 7s Du Pont de N 7% Duquesne Light 68 st Cuba Sug 7 mpire G&F 73%s. Fisk Rubber 8s.... Gen Elec deb 6s. ... Goodrich 614s. . Goodyear 85 1931. Goodyear 8s 1941. Hershey 63 1942 Humble O&R 5%s. 1llinois Bell 1st os. Int Mer Marine 6s. Int Paper 1st 53 B. KCP&LtEs A 52, Kayser (J) 75.. Kelly-Spring 8s... 2 Lackawa S 55 '50. . Liggett & Myrs 7s. Liggett & Myrs Lorillard (P) 5s Magma Cop cv T Manati Sug sf 7% Marland Oil 7%5s. Mexican Petrol 8s. Midvale Steel 5s. ... Montana Power 53. Nat Tube 1st 55.... New Eng Tel bs N Y Edsn 1st 6%s. NYG EL H&P 4s. NY Tel6s'4l..... @, & EL TR TS T ST P oY) @ @ EX-T"3 e CEPOI - PPy e e Ba&l @ BERARORD NGROR=E® NY Tel4%s. N Am Edison 6s. Nor States Pow 5s. Nor States Pow 6s. Northwst B Tel 7 Otis Steel 7%s. Otis Steel 8s. Pacific Gas & El 68 Pacific T & T 58’52 Pan-Am Pete 7s, Phil & Rdg C&I 0s. Phila Coref 6s A.. Plerce-Arrow 8s. Pierce Oil deb 8s. . Producers & Rf 8s. Public Service 5. Pub Ser Elec 6s wi. Punta Alegre 7s. Sharon Stl H 8s. Sinclalr . Sin Crude Oll 6%s. Sin Crude Oil 68 South Bell Tel & Southwest Bell bs. Steel & Tube 7s. .. Sug Est Orlent 7s.. - @ & - o - 23855 uRelenBroRubRena 86% 85 106 105% 103 102% 88% 88K U S Rubber 7%s. U S Steel s £ 5s. Utah Pow & Lt bs. Va-Car Chem 75... 12 80K 793 Va.CarCh7%sw. 20 64 63 ‘Warner Sugar 7s.. 1 1026 10215 Westinghouse 7s.. 5 1073 1075 WickwireSpen7s. 3 76 74% Wilson & Co 1st 68 6 97 Wilson & Cocv 6s. 7 90% 903 903 Winchester A 7%s. 1 102% 1021 10235 Youngstn S&T 65. 48 96% 96% 961 SHEEP.GROWERS PROSPER Lead All Other Live Stock Men in Texas—Prices Up. Special Dispatch to The Star. FORT WORTH, February 19.— Sheep growers are the most pros- perous of the live stock men in Texas at present and they are uniting to in- crease that prosperity by elimination of unbusiness like methods of mar- Keting which are costing them thou- sands of dollars. Commission men ex- pect the number of sheep and lambs arriving at market will increase this wes nt Attractive cholce wethers selling o ot 31055, and TSt Jemba af $11, lambs at $13.25, and fal s at $14, with & broad demand, 8 98-31: B Low. Olose. 86% 79% 86% 81% 9% 264, , 79% | trict and nearby Maryland and Virginia { were out, as us 97% 1 exceptionally brisk. 824 81% 824 101% 101% % s6% 86 Canadian North 78 10 Canad North 6%s. 12 Canad Pac deb 4s.. 37 gen:oi]%lSL 3 ‘entral Pacific 4s. Ches & Ohio cv 5 3 Ches & O cv 4%s. Ches&Ognéls.. 6 Chi & Alton 3s. ... Chi & Alton 3%s Chi B&Q 1st rf 5s. . Chi& E1ll gn bs. .. 20 Chi Great West 4s. 24 CM& Puget 8d 4s. Chi M&,StPl’I‘*l ChiM & St Pcv bs. Chi M & St P 4s'25 Chi M&S P cv 4%s. Chi M&ST P 4534, CM&St Pdb dis. .. ChiM & St P 6s wi. Chi Rys 6s . Chi RI& Pacrt 4s ChiTH & SE 5. .. Chl & W Ind cn 4s. CCC&SILr{6s A.. Colo & Sou 4% Del & Hd 15t rf 4s D&RGstrfbs. Det United 4%s. Erle 1st con 45 Erle gen 4s.. Erleconvés A Erfeconv 4s B Erie conv 48 D Gr Trunk st db 6: Grand Trunk 7 North gen 7 North gen54s. . Green B & W db B. Hud & Man ref 5s. Hud & Man aj 58 1l Central ret ds.. 11l Cent ref 55'55. . 1% Int Rap Tran 7s... Int & G Nor aj 6s..179 Int & G Nor 1st 6s. Towa Cent rf 4s. .. Kansas City S 5s.. Kan City Term 4s. Lake Shore 4s°28.. 1 Lake Shore 4s°31.. 17 Lehigh Valley 6s.. 4 Louls& Nuni4s... 1 Louls & Nash 5%s5. 6 Louis & N 55 2003.. 26 Manhat Ry cn 4s.. 13 F59% MIE.Ry&Lios... 4 84 M&StListrefds. 7 22% 13 Mo Pacific 5565 Mo Pacific gn 4s. .. Montrl Tm 1st 5s. . New Or Term 4s NOTex&Minbs.. NYCendeb6s.... Y NYCenriss. N Y Cent cn 4593 New Havencd 6s.. New Haven d 4s'57 New Haven7s..... New Haven 7s fr New York Ry rf 4s NY Ry rf 4sctfs... 3: New York Ry aj Y Rysadjbsct.. N Y State Ry 4%s. NY W & Bos 4% Norfolk & W cv 6s Northern Pac #s... Northrn Pacri6s. Ore-Short Lref 4s. Ore-Wash 1st rf 48 Pennsyl gen 5s.... Pennsyl gen 4%3s.. Pennsyl 6%s 5 Pennsyl gold Pennsyl con 4% Pere Marq 1st 5s... Pere Mrq 1st 4s '56. Reading gen 4s.... Reading gn 4 3swi. Heraoan 2 e wSamonm - 82 StL&S ¥ p StLS W 1st4s StLSW con 4s St P Un Dep 548 San A& Arn P4s.. Seab'd AL4s..... Seab'd A Lref ds.. Seab'd ALadj5 Seab'd A L con 6s. . . Sou Pacific 43 1929. Sou Paclfic ref 4s., . Sou Pacific clt 4s. . Southern Ry 1st bs. Southern Ry gn 4s. Southern Ry 6%s. . Southern Ry 6s ct. Third Ave adj 5s, Union Pac st 4s... 1 Union Pac 1strf 4s Union Pacific cv 6s. Union Pac 1st rf 65 Virginia Ry 1st 5. Py CmuhGRa . 2 West Shore Ist 4s. 19 Wheel & L E cn 4s. 20 Whel & LETf4%s 8 TOTAL SALES (Par Value): 112.m..3848000 12noon b 466000 1p.m. 6884000 2 p.m....7 607000 STUDEBAKER BOOSTS PRICES ON LIGHT CARS Special Dispatch to The Star. DETROIT, February 19.—There has been an immediate response from the public to the increases in automobile prices. Five companies have jumped quotations in the last ten days, of which Studebaker is the latest. That company has ralsed the price of light six road- sters and touring cars $50 each and the special six roadsters $75, but has not changed prices of the big six or closed car models. Sales of new and second- hand cars are reported to have taken a jump in consequence of the action by these companies. Rumors continue to indicate that other companies may fol- low with price advances, _— DIVIDENDS. Ao 18 1 Apr1e Mch. & 25 Apr.10 Meh. Meh. Du Pont de N d 5. Company. Pr. Crucible Steel P 1%% Du Pont de N 1 Mackay Comps. Mackay Co North Am.. Du Pont de N P Du Pont de Nem... % 13 North Am Ohlo OLL. Packard M Car pf. 3 % s .25 1% Mch. 15 TU. 5. TREASURY CERTIFICATES | ey (Quotations furnished by Redmand & Co.) Tie ot m:n.u‘ as an FINANCTAL Grain, Produce and Live Stock Appearance of snow this morning had its effect upon the early buying. Dealers from various parts of the Dis- 1, but buying was not Dealers had ample sypplies to meet all demands and enough left over to tide over any ordinary spell of bad ‘weather. Recent cold weother gave the meat market a much better ap- pearance and Increased the output at prevailing prices. 1t was suggested by deajers that the fall of snow might temporarily affect the receipt of green vegetables from nearby farms and the Norfolk section. The weather bureau came to the res- cue with a prediction of warmer weather, however, and the storm con- ditlon did not give dealers much con- cern. LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, selected, can- dled, © per dogen, 38: averake re- celpts, 36; storage, 26a28. Live poultry-—Roosters, per 1b., 17; turkeys, per 1., 25a30: spring chic ens, per Ib., 32ad3; keats, youns, each, 60270; fowls, per Ib., 23aZ4. Dressed poultry — Fresh - killed spring chickens, per Ib. 32a35; roasters, per 1b, 32a33; hens, per 1b., 26a27; turkeys, per lb., keats, youns, each, 80a85; roosters, per ib. Live stock—Calves, choice, per I 1b., 12a13; thil 8. Lambs, spring, per | plgs, 3.0025.00 each; live hoss, per 1b., 8. Green fruits—Apples, per basket, 50a2.00; box, 1.50a3.00; per barrel, 2.00 a6.00. California oranges, per crate, 3.5024.50; Florida, 3.0024.00. Lemons. per box. 3.00a3.50. Grapefruit, 3.00a 3.75. Crauberries, 4.50a5.00 per one- half barrel. Vegetables—Potatoes, barrel, No. 1, 2.50a3.00; No. 2, 1.50a 2.00. Potatoes, round, Der bag. 2.75a sweet potatoes, 7.0029.00 per bar- rel. ' Southern lettuce, per crate, 1.50a 3.00; ° Icebers, 3.0023.25. Cabbage, northern, 2.00a2.50 per 100 1bs.; Flor- ida, 2.00a2.25 basket: nearby, 1.0081.50 barrel. Tomatoes, Florida, 3.00a4.60. Beans, southern, per basket, 5.00a7.00. Peas, ‘per basket, 4.00a8.00. Celery. Flor{da, 2.75a3.00. Squash, 3.00a4.00. Peppers, per crate, Florida, 2.5024.00 Eggplant, 4.00a5.00." Kale, per barre 2.0022.25. Spinach, per barrel. 4.3 5.00; 'Texas, per basket, 2.00a2 Southern cucumbers, per bushel, 5.0 a8.00. Carrots, 100-Ib. sack. 3.25a3 50. Brussels sprouts, 25aj0. Florida lima beans, 3.50a5.00. GRAIN AND PROVISIONS. s BALTIMORE, Md.. February 19 (Spectal). — Potatoes, white, pounds, = 9021.90; 150 pounds, 3.00. Sweets and yams, barrel 2.00a .50; bushel. 1.00a2.75. Beets, 100, 5.0026.00. Beans, bushel, 3.0026.00. Broccoli and kale, bushel. 30a35. Brussels _sprouts, 25a30. Cauliflower, crate, 1.7582.25. Cabbage, 100, 4.00a .00. _Savoy, bushel, 40a50. Carrots, , 5.0026.00. Celery, crate, X Cucumbers, crate, 6.00aL.00. Eggplants, crate, 3.00a4.50. Lettuce, crate, 2.7523.25. Onlons, 100 pounds, 1.50a2.75. Parsnips, basket, 60a70. oyster plants, 100, 6.0028.00. Peas, hamper, 4.50a5.00." Peppers. crate, 2.50a4.50. Squash, crate, 4.00a4.50. Tomatoes, crate, 1.50a3.50. Turnips, bushel, 35240. Apples. packed, barrel, bushel, 50a1.50; box_apples, 1.40a2.15. Grapefruit, box, 1.75a3.00. Oranges, box, 2.25a3.00. Pineapples, crate, 3.00a 4.00. Strawberries, quart, 45a55. Settling Prices on Grain. Wheat—No. 2 red winter, 1.1414; No. 3 red winter, spot, 10 quo- tatlons; No. 3 red winter, garlicky, spot, domestic, 1.16%: export, no quota- tions; No. 4 red winter, garlicky, spot, no quotations. Sales—None. Corn—Cob, new, 4.30a4.40 per bar- rel for yellow, and 4.15a4.20 per bar: rel for white: No. 2 corn, spot, 92 No. 3 corn, spot, 89; track corn, yel- low, No. 3, new, 92. Sales—None. Oats—No. 2 white, 58a58%; No. 3 white, new, 57a57% Rye—Nearby, 0. 2 rye, spot, 794, lu;a.y—Rechle. 52 tons. The de- mand for hay leaves much to be de- sired. While the demand is quite good for good clover mixed and No. 1 clover hay, the better grades of timothy are in ample supply and draggy. Damaged and low grades are dull and of uncertain value. Quotations—: Timothy. 27.50a 28.00 per ton; No. 2, 26.00a27.00; No. 3 23.00225.00; No. 1 light clover mixed 23.00a25.00; No. 2 clover, 22.00a23.00; No. 1 clover, mixed, 25.00a2: B o clover, 24.50225.00. Straw—; 1 straight rye, 25.00 per ton; No. 1 tangled rye, 17.00 218.00; No. 1 wheat, 15.50216.00; No. 1 oat, 17:00a18.00. DAIRY PRODUOTS. BALTIMORE. February (Special) —Live pound, 18230 leghorns, 20a2 old hens, 20a26; leghorns, ducks, 27a30; geese, 17a22; pigeons, Dair, 30; guinea fowl, each, 30a60. Dressed poultry—Turkeys, pound, 18a30; chickens, 20a28; ducks, 25a30} old roosters, 16 geese, 18a22; capons, 28a35. : Eggs, 1oss off, native and nearby firsts, dozen, 35a36: southern, 34, Buiter—Creamery, g00od to fancv, pound, 52; prints. nearby creamery, .42a46; ladles, 30a32; rolls, 27a30; store packed, 27; dairy prints, 27a30; process butter, 39. CHICAGO LIVE STOCK MARKET. CHICAGO, February 19 (United States Department of Agriculture).— Hogs—Recelpts, 44,000 head; 10 Ligher; good. and_ cholce pound 'butchers, 7.35a7.40: desirable 160 to 210 pi 2 packing %xilling pigs, steady: good a strong weight, 6.0026.50; big packers talking stead: \ Cattle—Receipts, 12,000 hea beef steers at 9.50 and steady; others uneven, weak to 25 lowe some heavies, 11.50; fed steers. 7.75a9.75; fat cows steady; beef heifers steady to 2.00a5.00; spot, a8! nearby, per |y 6 | Marviand PRICESGOLOWER ON LOCAL BOARD Lanston Off Several Points in Day’s Trading—New Bond Issue on Market. The trading trend reacted on the Washington Stock Exchange thig morning, resulting in a decidedly weak price range, which made ity presence felt on several favorite is- Sues. Lanston Monotype slumped sev eral polnts to 72% on a single trans- action of ten shares, and Washington Gas Light sold off to 483 after open- Ing strong at 50. Seventy shares Were sold. Continental Trust Com- Pany stock dropped to 86 on sales of twenty shares, and Capital Traction Was unchanged at 94% and 95. Bonds were listless and unchanged. Capital Traction 5s sold to the ex- tent of $4,000 at 97, Georgetown Gas 58 brought 39% and $1,300 of Wash- ington Gas 6s of 1933 v S sold at par and . New $300,000 Bond Oftering. An offering of $500.000 Washington ** Suburban Sanita i Tand oen Senltary District of Mary- maturing in from thirty to years and bearing nterest 4t the rate ot - % per cent, are being sold for the - Purpose of extending the water and ST, S{olems within the District. © guarant; t- D gach bond in the follow- : € pa) N he {nterest”when due and of 1 o prin $ipal at maturity is guaranteed by Montgomery and " Prince Georges ;?:)?1(’;;5.!6@7“ land.” Interest and = - e L provided “for " through nterest on ‘the fssue 1s pava Jenuary 1 and July 1, in ;afi?fu‘o‘;}: Md. Coupon bonds in denominatior Of $1,000, registerable as to prineipel. The area of the Washington sub- urban sanitary district as created by, the act of the general assembly of is a Proximately one miles—forty-one miles being in Montgomery Pr’nceflgzor:quare miles i es county, adjoi District” of Columbia. lexzmniul!h~ tion of the sanitary district is now approximately 45,000, having increased from 12,000 in '1910. Electric car lines from Washington radiate into this territory at six points, and it ic also served by the Baltimore and Ohio and Pennsvlvania railroads, to 5, dnsue, which 15 offered ut 99%. vield more than 4% per cent, <. being handied by 2 Balimore iy dicate. Interest in Bank Meeting. Tomorrow's meeting of the direc- tors of the New York Federal R..- serve Bank is awaited here with con- siderable interest, because there is some expectation that the rediscount ra;: rl'naylh(: lowered.. s of nterest that a year ago this week the marking up of the rat. from 4 to 415 per cent gave warning that the early boom of 1923 was ap. proaching its end. To Address Bank Institute. R. Gordon Finney will deliver the first of a series of lectures to the elementary class tonight on “Bank Statements” An examaniation in- commercial law will be held Wednes day night, and on Thursday F. J. Donohue will address the standard banking class on * - - banking Credit-Bank Re Bonds Ready for Exchange, S. W, Straus & Co. announce that permanent 6% per cent first mort- gage fee and_leasshold coupon gold bonds of the $9,000,000 Book-Cadillac Properties issue, Detroit, are now ready for exchange for inter! - tificates outsmndlgx. Mitesimbonrs SHORT TERM SECURITIES. (Quotations furnished by Redmond & Co.) Aluminum Co, of Amer. 2 Aluminum Co. of Amer. 7s 1933. American Cotton Oil 65 1924... 100 American Sugar 6s 1607. American Tel. & Tel. 6s 1625: ‘Anaconda Copper 6s 1929. Aopl-American oil 7igs i Humble 01l 5is 1 Keanecatt Confer Ta Libby, McNeil & Libby 7 M. St P. &S, 8. M 61y Morris & Co. %8 1030, Oregon Short Lige ds 15 Penna. R. R. s 1000 Swift & Co 5 Tidewater Ofl 8ty 1031 Cnion Tank Car s 140, Westinghouse £ Wisconsin Edison el, DUnited Utilities pf.. s Weber & Hellbroner, pf.. q. Yellow Cab Co., m weak; veal calves, 25 higher; stockers | s and feeders firm; bulk vealers to packers, 9.5029.75; outsiders, upward to 13.00. Sheep—Receipts, 12,000 head: fairly active; fat wooled lambs, strong; sheep and feeding lambs steady; fat wooled lambs, 14.50215.25; light and handy welght fat ewes, 9.50a9.75; feeding lambs, 13.50214.00. TODAY’S CHICAGO PRICES. CHICAGO, February 19. — Grain prices scored an all-around advance “today during.the early dealings. Buy- ing on the part of bull leaders ap- peared to be chiefly responsible, to- gether with a lack of any aggressive selling. Prospécts of a siowing down of the movement of the corn crop had a strengthening influence on values. Wheat opening quotations, which va- ried from unchanged figures to % lower, with May 1.09% to 1.08%, and July 1.09% to 1.09%, were followed by an upturn all around to well above t s finish. YNy wenther led to bellet that shelling and shipping of corn would be delayed. After opening unchanged to %a% higher, May 79%a79%, the corn market made a decided general ascent. Oats started unchanged to % high- er, May 47% to 48. Later all months showed gains. Provisions were firmer in response to an upturn in hog values. . High, : 1.09% 1.10 :.ms 1.102 1.09 79 =@ ;”E 'm it % 487 krid A3% 11.37 11.60 280 A sign in your window for a year will ot be read by as many people -ad -in The Stax ope day, oning Tovest Co..’ex jonal Cloak & Sut pf. - RATES ON BAR SILVER. LONDON, February 19.—Bar silvcr 33 9-16 pence per ounce. Money, 27 per cent. . Discount Tates, short bills, 3% per centcent; three months biils, 3%a - 3 11-16 per cent. N. Y. Stock and Bond Averages. Monday, February 18. STOCKS. Total stock sales, shares. Twenty industrials averaged 96.96; net loss, 1.93. High, 1924, 101.24; low, 94.85. Twenty railroads averaged $2.99; net loss, .74. High, 1924, 35.5/ BONDS. Total bond seles (par value), $8,843,000. Ten first grade rails averaged 85.73; net loss, .13. Ten secondary rails averaged net loss, .06. "Ten public utilities averaged 86.41; net unchanged. Ten industrigls averaged .98; net gain, .07. Combined average, 87.47; net 1088, .03, Combined average month ago, 87.8 1,275,000 low, 32.74. L