Evening Star Newspaper, March 4, 1924, Page 22

FINANCIAL NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Ofice STOCKS GO LOWER IN TRADING TODAY American Woolen Weak After Report—Leather and Oil Shares Drop. BY STUART P. WEST. Epecial Dispatch to The Star. NEW YORK, March 4.—The state- ment was made ten days ago that Wall street, after three and a half months of advance and the sharp break early in February, was in for a trading market, that is, for a period of narrow professional speculation. This has been borne out by susequent events, and it was quite true again today. Some stocks were pressed for sale, while others were bought. In the majority of the list, the drift Was downward. ; : American Woolen opened up 3 Points in expectation of a favorable report which came out at noon. The abtual figures were disappointing. The street had been talking about 530 for the common stock, whereas the surplus after preferred dividends turned out to be $8.24. The balance sheet, with its heavy addition to in- Jontories and its decrease in cash. Was mot calculated to make a good fmpression. American Woolen stock broke sharply immediately after the appearance of the statement. Central Leather Very Weak. Central Leathers made mnew low Fecords - The market has not got over the shock occasioned by the an- Tual report showing the profit and less deficit increased by $7.000,000 to & total of over $12,000,000. For a time in January it appeared that conditions were on the mend. Both hide and leather prices had quite a substantial recovery. But the latest Yeports are that this improvement has been checked and that conditions in the leather trade are no longer as promising as they seemed to be a onth ago. I shares were sold agaln on the f@ea that the upshot of the Wash- fngton investigations may be the 2doption of legislation providing for ‘overnment supervision of the indus- rv. Also there were reports of salt water and consequent pinching in of wells in_Mexico. The bad break in Plerce Oil preferred was another complicating factor. Selling was rather heavy for a time in Standard Oil of California, Pacific Oil, Cosden, Marland and the Pan-Americans, but it let up later in the day. N. and W. Again Advances. The only rallway stock that de- veloped any activity was Norfolk and Western, which was bought by peo- ple who were impressed by the proba- vania guarantee rfolk and West- Pennsylvania honds. _ Another_strong feature was New Orleans, Texas and Mexico, which crossed par for the first time this vear. The 1923 earnings, show- ing less than 9 per cent, do not sugs gest a solid basis for an advance in the dividend, which stands at present at 7 per cent. But with the acquisi- tion of the International Great North- ern a further expansion in earnings is looked for. The one good point in the Ameri- can Woolen balance sheet is the item of $5,500.000 set down to “special re- serve.” This, comparing with $1,500.- 000 the year before. The appropi tion of this sum was evidently made 1o protect the company against losses in {ts purchase of raw materials. On the other hand, certain other com- parisons are not so favorable. Cash lias come down over $2,000,000, and inventories have increased from $43,~ 300,000 to over $56,000,000. Picrce Oil Preferred Breaks. Plerce Oll preferred broke badly, selling several points under the final price of last Saturday, and more than 15 points below the rocent high. Just lately certain banking interests were reported to have withdrawn from the company, but nothing has been heard regarding the projected sale of Pierce Ol assets to a stronger oil company, as has been rumored from time to time in the Iast few months. The last annual statement and the report for the six months ended December 31 showed Plerce Oil operating at a doficit, but it has been reported that operating and earning conditions had turned for the better. Mack Truck directors today voted the regular 1% per cent quarterly dividend on the common stock, which was what well informed persons ex- pected. The company's 1923 report will not be out until next week. Cur- rent estimates are that it will show slightly better than $20 a share. Much_of the*time today United States Cast Iron Pipe did little more than hold the ground it has gained recently. and it was apparent that temporarily at least the campaign which has been conducted in_this specialty had quieted down. It fs rumored that an attempt will be made to secure a reversal of the re- cent court decision and that Cast Iron Pipe common eventually ‘will be split up, thereby increasing the float- ing supply, which at present is excep- tionally small and easy of manipu- lation. CLOSING IS IRREGULAR. President Coolidge’s Tax Views Cause Afternoon Rally. By the Associated Press. - NEW YORK, March 4—Early trading in today’s stock market was restricted by speculative uneasiness over the sol- dier bonus legisiation and reports that the tax plan adopted by the House would Tesult in a large deficlt if en- acted. Prices rallied in the late after- noon under restatement of President Coolidge's position on the tax bill Sales approximated 700,000 shares, The closing was irregular. The rally continued through the late dealings, with good strength being shown by the independent Steels and a few Commer- ties, notably Fisher Body and Commer- clal Solvent A, which advanced 4% points and 3% points, respectively. METAL PRICES ADVANCED. NEW YORK, March 4. — Copper metal i~ London advanced today. Lead also was higher. Tin and zinc ‘were off. N. Y. Stock and Bond Averages. Monday, Marck 3. STOCKS. Total stock sales, shares. Twenty industrizls aveéraged 97.39; net loss, .57. High, 1924, 101.2¢; low, 94.88. Twenty railroads averaged 7; net loss, .86. Mgh, 1924, 86 BONDS. Potal bond sales (par value), $11,455,000. Ten first grade rails averaged 3$5.48; net loss, .10. Ten secondary rails averaged 83.48; net loss, .02. Ten public utilities averaged 86.85; net loss, .05. Ten industrials averaged 93.65; net loss, .05. Combined average, 87.37; net Joss, .05. Combined average month ago, 88.05; year ago, 87.70. 816,000 low, 82.74. Ajax Rubber. Alaska Juneau Allied Chem (4). Allis-Chalm (4 Am Agri Chem. Agr! Chem | | Atr Reduct ¢4).. Am Am Beet Sugar. . kid ké 1 68% AmBrs&F (5) 1 Am Chain A (2). Am Chicle. .. Am Express (6) . Am Hide & Lea... Am Hide & L pf.. Am Internatl. .. AmLaFFE (1). Am Locomo (8) . Am Loco pf (7) Am Metal (3)... Am Radiator (4) Am Saf R (60c).. Am Ship & Com.. Am Sm & Re (5) AmS&Rpf (7). Am Snuft (+14)... Am St Fays (3). m Sugar. = Zm Sumat Tob. Am T & Tel (9) Am Tob B (12).. Am W W 1st (7) Am Woolen (7). Am Wool pf (7). Am Zinc pf. {Anaconda. Ann Arbor pf arm pf Del (7). Asso Dry G (5) .. As DG 1st pf (6) Asso Ofl (1%)... AT&SFpL(5). At] Birm & At Auto Sales pf. Bald Loco (7). Bal & Ohlo (5). Beth Steel (5). Beth Stl pt (7). Beth Stl pt (8).... Booth Fish 1st p! Br'k Edlson (8). Br'’k-Man Tran... Br'k-Man Tr pf.. Brown Shoe (4) . Brunswick Term. Buf R&P (4)... Burns Br (10) . Burns Br B (2) But C& Z (500) Butte & Superic Cal Packing (6). Cal Pet (1%). Callahan Z Lead Calumet & Hecla Can Pacific (10). Carson H Gold. .. Case T M pf (7). Cent Leather Co. Cent Lea Co pf. Cent Rib Mills. Cer de PasC (4) Chand Mot (6).. Ches & Ohio (4). Chic & East Ill... Ch & East Il pf. Chic Gt West. Chic Gt West p! Ch Mil & St Paul. Ch Mil & St P pt. Chi & Nwn (4) Coca-Cola (7). Colo Fuel & Iron. Col G & E (2.60). Col Carbon (4) Com Solv A (4) Congoleum (3) Consol Cigar. . ... Consol Gas (5) Consol Textil Cont Can (4) Cont Motors. Corn PrR (19)... Corn Pr Raw wi. Cosden Co. ... Crucible Stl (4) Crucib Sti pf (7). Cub Am Sug (3). Cub Cane Su pf... Cub Dom Sugar Cuyamel Fr (4) Davidson Chem De Beers Mines... 1 Del & Hud (9). Del L& W (6). 1 Dome Mines (2). Doug-Pectin (1) Du Ptde N (8)... 130 DuPdeNdb (6) EastK (16% Eaton Ax (2.60). El St Bat (15%) Elk Horn Coal. ... Elk Horn Coal pf. End-John (5) Erle. Erle 1st pf. Famous P1 (8)... Fifth Av B (64c) Fisher Bdy (10). Fisk Rubber. Fl'chm'n (13%). ‘Foundation (6). Freeport-Tex: Gen Mot db (6) ... Giisbel Br pf (7) Gold Dust w. i... Goldwyn Pict.... Goodrich. . . Gianby Consol. Gt North pf (5).. Gr Nor Ore (3). Grt Wstn Su (8) Gr Canan Cop. ... Guantan Sugar. Gult St Stl (5) Hartman Co (4). Houston Oll..... Hud Mot C (3) . Hupp Mot C (1). llinois Cent (7). Indisun Refining. Inger R (128). Ingersoll pf (6). Iniand 8tl pt (7) Inspiration Cop Interb Rap Tr. Internat Ag pf... Int Bus Ma (8).. Int Com Eng (32) Internat Har (5) Int Mer Marine... Int Mer Mar pf... Internat Nickel.. Inter Nick pf (6) Internat Paper.. Int Shoe (4) . Int Shoe pf (8) Invincible Oil. Iron Prod (1%). Jewel Tea. .. Kayser Jul &Co.. Kelly Spr Tire. Kel Sp T pf (8).. Kenne Cop (3) .. Keystoue T& R.. Leh'Val rights. . ). w) LoewsInc (3) e Loft,Incorpor. . .. Lorillard (13)"... Mathieson Alkali Maxwell Mot A... Mazwell Mot B.. Open. High. 77 1 86% Low. 7 1 1% -14% 1% 67% 45% Miami Cop (3)... Middle St Oll. ... Minn & St Loulsw 124 { Mis Kan & Tex... 35% | Min K & Tex pf.. 40% 80 0% | Rand Min (235) . i ‘West Maryland. %li1am Missour] Pacifl Missouri Pac pt.. Mont Power (4). Montgom Ward.. Moon Mot (3). .. Mother Lode (1) Nash Mot pf (7). Nat Acme. . Nat Dept Store: Nat En & St.. Nev Cons Cop. .. NOrT&M (7). NYAIrBr (4)... N Y Central (7). N Y C-Readg rts. NYC &StL (6). NY NH & Hart. . Norf& W (18) ... Norf & W pf (4). North Amer (3). North Am pf (3) North Pac (6)... Oh F Sup (2%).. Onyx Hoslery Orpheum (1%4).. Otis Elevat (8).. Otis Steel... . Otis \iteel pf. Owens Bot (3).. Pacific Coast. ... PacG & E (8) Pacific Oil (3) Packard (1.20) . Pan Amer (8) Pan Amer B (8). Parlsh & Bing. ... Penn Ralira (3) Penn Seab Steel. Peop Gas Ch (7). Peoria & East. ... Pere Marq (4 .. Phila Co (4)...... Phila& R&T wi Ph-Jones pf (7) Phil Mor (50c). Phillips Pet (2) 104% 104% 18% 13w 98% 102% 40 40 Plerce-Arrow pi Plerce Oll. Pitts Coal pt (6) Pitts & West Va. Pitts Util pf 95c. Pitts Ut pf cf 95c. Postum Cer (4). Press St1C (4) ... Press S C pf (7). Prod & Refiners. PubSerNJ (4). Pub S NJ pf (8). Pullman Co (8) .. 1 Punta Al Su (5) Pure Ofl (1%) .. Ry Stl Spg (8) 28% 24% 110 % % Ray Cons Cop. .. Reading (4)... Reading ris...... Read 1t pf (2).. Remington Type. Rep Ir & Steel. RepI&S pf ( Reynoids Spr (2) Rey Tob B (3).. Roy D'tch (3.46) St Jos Lead (13) St L San Fran. .. St L-San Fr pf. St L Sothwest. ... Santa Cecllia. Schulte (§8) Seaboard Al Seab'd AIrLipt... Sears Roe & Co. Seneca Copper. Shell Trad (2.06) Shell Un Ofl (1).. Simmons Co (1) . Stmms Pet..... Sinc Con O11 (2). Sin Con O pt (8). Skelly Oil. ...... Sloss-Sheft (6).. So P Rico Su (8) South Pac (6)... Scuthern Ry... South Ry pt (5) Spicer Mfg...... Stand Mill (5). St Ol Cal (32). StONINJ(1).. StOUNJpf (7). Stew't War (10) Studebaker (10). Submarine Boat.. Superior OIl....... Sweets Co of Am. Tenn C &Ch (1). Texas Co (8).... Tex Gulf S(6%). 68% 52% 61 38% 38 116% 116% Third Avenue. Tide Wat Ol (: Tob Prod (6).... Tob Prod A (7).. Tob Prod pf (7) .. Transcont Oll. ... Twin City R (6) Un Bag Pa (6)... 19% 4% 101 103 33 83% 22 Va-Caro Chem B. Va-CaroChpf... V Vivaudou (2) Wald 8ys (1%) .. ‘Web & Hellb (1). ‘West Pen (4)... Western Pacific. . ‘West Un Tel (7). West E& M (4) W E 18t pf (4) ‘Wheel & L Erle. Wh Eag Ol (2).. White Mot (4)... ‘Wickwire Sp Stl.. Wilson & Co. ...« Willys-Overland. Willys-Over pf.... 8 Wrig WJIr (3)... 37% {Partly extra. §Payable in preferred stock. Dividend rates vem 1n’ the, above "table tre the aonual cash paments “based on “the atest quarterly or Balf: Caicsn Uotherise " notat, > ciara ot apemni dividends ‘are Dot included. Higk. Low, Last, &% 4% HOURLY SALES OF STOCKS. 200 700 1p.m. 429 110% 109% 61% 61% 15% 16% 109% 110% 60% 61 75 8 26 57% 2% 16% 12 exars or speciai Call Money.... 1zm U. 5. TREASURY CERTIFICATES (Quotations furnisted by Redmond & Co.) 43s March 15, . 1927, 15, 1927..0 1 ey sarasts 832 1, 101316 101 5. December 0o% " 1000 PARIS MARKET ACTIVE. ice. 1 | PriCe: | % 10% 138% | (Quotations 63% i I TRADERS IN BONDS REACH DEADLOCK Buyers and Sellers Await swwrv vorx BONDS 7o mewwwr] Private Wire Direct to The Star Office. W YOR Received by (Bales are in $1.000.) UNITED STATES BONDS. (Fractions _represent _thirty - seconds. Example: = 98 Lib 3% Lib2d 4s Lib 1sf News on Trade and Politics. 1ib 2a ¢ Liberty Issues Weak. BY GEORGE T. HUGHES. % | Specta Dispatch to Tho Star. NEW YORK, March 4—The course of bond quotations today was marked by great irregularity. Buyers, for the most part, could be Interested only by substantial concessions, which sellers refused to make. The result was a practical deadlock, both sides await- ing developments in the way of news the money market. The one class of securities in which business was brisk was good short- term notes and bonds. Banks were in the market for anything fairly high grade running from two to four years, such as Westinghouse 7s and B. and O. 3%s; of such, supply was not equal to the demand. It was plain that the bankers were just as much In doubt about the future of the general market as other in- vestors, but that they found them selves compelled to find an outlet for their surplus funds and chose the safe way of restricting thelr pur- chases to the short-term security. Libertys Fail to Rally. High grade investment bonds were fairly firm, but inactive. Libertys fail- ed to rally much from Monday's sell- ing. The tax exempt 3%s were down rather more than the rest of the list. continued unsteady, Northern Pacific, Northwestern. There was active spec- ulation in Norfolk and Western con- vertible 65 which carried the price at one time up between 2 and 3 points.’ This was in response to the advance in the stock into which the bonds are convertible at par. Among the more speculative rails the short term St. Paul 4s rallled slightly. Seaboard Issues held their ground. The same was true of the New Haven bonds. Missourl, Kan- sas and Texas adjustments sold In large volume, with little change in Chemicals Turn Upward. In the industrial list, the Virginia- Carolina Chemical {ssues recovered a couple of points from yesterday's slump following the announaement of the re- ceivership. Wickwire Spencer Steel 7s alto rallled sharply. United States Rub- ber 53 were still heavy. In the trans- the strong feature today, as was found in the Interbor- ough list. The refunding 5s, both stamped and unstamped, were espe- cially firm. French government bonds weak- ened somewhat in sympathy with the new low record in franc exchange. Mid-Eurcpean issues were a little firmer. The Argentine bonds on the ourb seemed to have stabilized them- 14 | belves following yesterday's drop on the dissolution of the syndicate. FRENCH FRANCS HIT LOW FOR ALL TIVE Speculative Selling in Foreign Capitals Causes Further Slump in Exchange. By the Amsociated Pre NEW YORK, March 4.—Speculative selling of French francs in European capitals sent French exchange down 61% | to 4.02% cents today, a new low score for all time. French bonds also moved lower. Demand sterling de- clined slightly and continental ex- changes were somewhat depressed. French bllls rallied soon after the opening. The declines were attributed to publication of letters between the premlers of Great Britain and France. R O Foreign Exchange. furnished by W. B. Hibbs & Co.) Nominal Selling checks, lue. toda) Copenhagen, Christiania, crown. 380 Stockholm, crown. ‘2810 By the Associated Press. NEW YORK, March 4.—Foreign ex- chapges {rregular; quotations (in Unfted States dollars): Great Britain, demand, 4.29%; cables, 4.29%: sixty- day bilis on banks, 4.27%. ~France, demarid, .0412; cables, .04123;. demand, .0428%; cables, . glum, demand, .03613%; cables, .0362. Germany demand (per trillion), .22, Holland, demand, .0372f Norway, .1370. Sweden, demand, Denmark, demand, .1579. Switzerland, demand, .1730%. Spain, demand, .1237. Greece, demand, .0165. .00000012.. i Phils Traction... s-& Cen Lt & Pr Q Lt&Pr &Pr EX-DIVIDEND TABLE. — |, March6— Usited Frult, @......o M = Am. Beet Suger pf., 4 PARIS, March 4.—Trading was ac- |85 tive and prices were firm on the |58 Three per cent rentes, |Strom! 56 francs 60 centimes. Exchange on |, ‘bourse today. London, 106 francs 65 centimes. Five per cent loan, 69 francs 95 centimes. The dollar was quoted at 24 francs 80 centimes. s b Aal ot B, a. 3 ~ e S It pays to read the want columns of The 'Star. Hundreds of situations are ballea through them. 2 Lib 3d 43 Lib4th4%s.. 513 994 99 99 US4%s1962. 175 100-3 100-1 100-3 . Low. Close. 101% 101% 80% 80% 88% 89% 100% % 98 101% 1104 Argentine T Argentine Gl Austria 7s. Belgtum 7%s. Belgium 6s. Belgium 8: Bern 8s. Bolivia 8s. Bordeaux Brazil 7 Brazll Cana Canada Gs 1952 Chile 85 1946. Chile 85 1926. Chile 85 1941. Chile 78 1943. Christiania 8s. Copenhagen 5%s.. 5 Cuba 5%s. . . 48 Caechoslovakia 8s. 28 Denmark 8s. Denmark 6s Dutch E I 5% Dutch East I 6s°47. Dutch East I 65'62. 25 French Govt8s... 62 French Govt 7%s. 89 Haiti 6s... Japanese 1st 4 3% Japaness2d 4 Japanese 4s. 3 4 8 b5 8 Norway 6s 1943. Norway 68 1952. Orient Dev deb 6: Paris-Ly' Prague 7%; Queensland s Queensland 6: 6 RiodeJan 8s1946. 4 Rio de Jan 88 1947. 13 Seine Dept of 7s... Serbs Crotes Slo 83 12 Sweden 6s. .. 1 Swiss Confed 8s... 3 Ud Kingm 5%s’29 30 Ud Kingm 5%s°37. 84 100% Uruguay 8s. . 1103% MISCELLANEOUS. Ajax Rubber 8s. .. 90 Am AgrChem 7%s 30 98 AmChainsf6s33. 2 Am Cotton Oll 5s.. 28 Am SmIt&R 1st bs. 7 7 AmT&Tcltr AmT&Tcltrés AmT &TdebG%s 74 | Am Water Wks 63 6 { Anaconda cvdb 7s 21 Anaconda 1st 6s... 67 Armour & Co 43%4r. 2 Armour of Del 5%a 24 Assoclated Ofl 6s.. 27 Atlantic Refln5s.. 6 Bell Tel Pa b: . 8 Beth Steel 5%8°53. 3 Beth Steelrfbs... 1 Beth Steel pm 58 Beth Steel 5 65. .. Brier HSt 15t 5%s Bklyn Edison 78 D Bklyn Ed gen Gs. | Donner Steel 7s. | Du Pontde N7% Dugquesne Light 6s Est Cuba Sug 7%s. Empire G&F T%s. 3 Fisk Rubber 8s.... Gen Elec deb bs. .. Gen Refractres 68. { Goodrich 6%s. ... Goodyear 8s 1931... Goodyear 85 1941.. Hershey 65 1942... Humble O&R 5%8. Illinofs Bell 1st 5s. Indiana Steel 5: Int Mer Marine 6s. Int Paper 1st 58 B. KCP&LtbsAb2. Kelly-Spring 8 { Liggett & Myrs i Lorillard (P) 5s... Mexican Petrol 8s. Midvale Steel 5 Montana Power 53 New Eng Tel 6s... N Y Edsn 1st 6%s. NYG EL H&P 4s. 41 N Am Edison 6s. .. Nor States Pow 5s. Nor States Pow 6s. Northwst B Tel 7s. Otis Steel T%s. ... Pacific Gas & El bs Pacific T & T 5852 Pan-Am Pete 7s... { Phil & Rdg C&I bs. Phila CorefGs A Pierce-Arrow 8s. Producers & Rf 8s. 19 Public Service 5s. . 55 Pub Ser Elec 6s wi. 29 Saks&Cosf 5 Sharon St H 8 Sinclair O11 7 Sinclair Of1 6 Sin Crude Oi1 & Sin Crude Oil 61 S Sug Est Orlent 7 Tenn Elec Pow 6: Tide Wat Oil 6% Toledo Edn 1st 7 U S Rub 1st rf 68 U S Rubber 7%: USSteel st b8 Utah Pow & Lt 5 Vertientes Sug 7 Va-Car Cheém 7 Va-Car Ch 7%sw. 27 Westinghouse 7s. . 30 ‘Wilson & Co 18 Wilson&C cv 7%8. Wilson & Co cv 6 Winchester A 7%s 6 Youngstn S& T 6s. 12 —_———— OVERLAND DOING BETTER. TOLEDO, Ohlo, March 4.—Willys- Overland Company’s net earnings to- 96 1% 90K 91y 1024 102 1024 9 96% 96 RAILROADS. Bales. High. 57 86% 128 BKIRT 78’21 ctst 30 glnlflllh North7s 4 Central Pacific 4s. Ches & Ohio cv b: Ches & Ocv 4%s Ches & O gn 4}4s.. Chi & Alton 3s. ... Chi & Alton 3%s. . ChiB&Q gn ¢s Chi & EIll gn Chi Great West - o Chi-Un Sta 4., 1 Chi & W Ind cn 4s. CCC&StLTf6s A.. Cleve Term 5. ... Colo & Bou 43 CubaRR 738 Del & Hd 1strf 4s. Del & Hudson 5% Den & RioG cn 4s D & Rio G Imp 5s.. D&RGstrfbs. Erie 1st con 4s Erie con ext 7s. Erle gen 4s. Erieconv4s A Erle conv 4s B, Erie conv 4s D. Int Rap Trans Int Rap Tran 7s. Int&G Noraj 6s.. 34 Int & G Nor 1st 6s. Kan City Ft S 4s. Kansas City S 5s.. Lake Shore 4s'28. 5 Louis & N 58 2003.. 17 Manhat Ry cn 4: Market St cn 5s. 1 MK&TprinbsA. 13 2 5 s | Mo Pacific gn Montrl Tm 1st 5s. New Or Term 4s NOTex&Min N YCentgen 3% N Y Cen deb NYCenrib . 22 NYCenLScl3%s. 1 New Havencd 6s. 13 New Havend 4s'57 1 New Haven7s fr.. 12 New York Ryrf4s. 1 NYRyrfdsctfs New York Ry aj 55.102 N YState Ry 4%s. 1 NYW&Bosi%hs. 5 Norfolk & W cv 65338 Northern Pac 3s. 8 orthern Pac 4s. Northrn Pacr1 O ShortLecn 58’ Ore-Short Liref Ore-Wash 1st rf 4 Pennsyl gen 5s. Pennsyl gen 4% Pennsyl 6%s. Pennsyl gold 7s. Pennsyl con 4% Pere Marq 1st b: Reading gen 4 . Reading gn 4 %sw! Rio G West cl 4s. Sou Pacific ret 4 Southern Ry 1st Southern Ry gn 4 Southern Ry 6% Southern Ry 65 ct. Sou Ry Mobile 4s.. Third Ave ref 4s. Third Ave adj 5s. Tol StL& W 4s... Unfon Pac 1st 48 Union Pacific cv 6 Union Pac 1st r£ s Virginia Ry 1st 6s. Western Md 4s.... Western Pacific b8 ‘Wisconsin Cent 4s. 9% 81% :; % % 101% 85% 7% 67% 3% o7% ' 112% 111% % 79% 97% 101 % 86% 92% 90 85 57% 39% 85 9% 15 | hoBS, per Ib., 7%. 85% | 3.5024.50; 913 54w 88% 7% £9 743 104 56 68% 42% 75% | N 3% 37 2 61 4 6% 89 103 100% 93% 89% 98 88% 61 82% 7% 1% TOTAL SALES (Par Value): 1:a.m..2629000 12 noon 1p.m..5435000 2p.m.. 4 415000 ..6223000 SHORT TERM SECURITIES. (Quotations furnished by Redmond & Co.) Aluminum Co. of Amer. 7 luminum Co, of Amer. 7s 1933, 1t Alum! American Cotton 01l 8s tral Leather 58 192 SR T & Pac 5% Bu Pont T%s hivon et i, How 13,034,032, and retail sales|Swift I gt 188,088 cars in 1953 amount reached new tory of tle'company, accol balance sheet and statement issued by President John N. Willys. Production has been about 50,009 cars in the first two months, with 300,000 scheduled for the ysar. Credit position strengidened and manufacturing . facilities were en- larged during 1923, the statement sal - - high marks in the his- . -NEW YORK EGG PRICES. NEW YORK. March steady ; receipts, 33,8165 cases; New Jer- sey and other hennery whites, closely se- lected extras, 33a35; state nearby and nearby western hennery whites, firsts to extras, 26%a32%; Pacific coast whites, extras, 32a33; do, firsts to ex- tra first, 28a31%. " rding to the! % nj Westinghouss E. & M. 7s. 1931, Wisconsin Edison Co. 6¢ 1924.. Wheeling Steel Corp. 6s 1926... —Noon.— . Offer. 102 106! 100 1021 iy 102 107 100, 09! WOOL OUTPUT LOWER. s o The world production of wool in| BLree - 1923 was estimated today partment of Commerce at 2,604,911,000 | Se, by the De- FINANCIAL, Grain, Produce and Live Stock | “Frujts from all over the world, twelve months in the year,” was T marked by a local dealer this morn- ing, telling of the condition of the frult market. Due to the purchase of immense quantities of bananas, more than enough to supply the de- mand, the price of this popular fruit experienced a decided drop the past two weeks. Florida oranges are being received in large quantitie: The fruit is of excellent quantity, dealers state, and prices are reasonable. _California oranges are mot belng recelved in large quantities, due, it is stated, to| inability of growers to cope witl Florida growers because of the long haul and high freight rates. Lemons have been exceptionally cheap the past few days, but today f the market showed an upward tend- | ency. Italian shippers reduced their shipments because the low prices netted them nothing after payment of duty and freight rates. Pineapples are not yet very plenti- ful. Demand for them has largely decreased, it is stated, because of the canning industry. Grapes are scarce, local deslers getting small shipments from South America that are quotedat 40 and 50 cents a pound. Eggs—Strictly fresh. selected, can- dled, per dozen, 26; average receipts, 24. Live poultry-—Koosters, per 1b., 17; turkeys, per 1., 25230; spring chick- ens. per 1b., 33a35; keats, young, each, 60a70; fowls, per Ib., 26a27. Dressed spring roasters, oultry — Fresh - killed Chickens, —per . b, 35838; per 1b., 32a33; hens, per 1o, 28a30; turkeys, per. Ib.. 30a35; keats, young, each, 80; TooSters, W:’J'b.. 20. 10, Ive stock—Calves. cholce. per 1b., 14; medium, per 1b., 12al3; thin, per Ib., 6as. Lambs, spring, per ib. 13. Live pigs, 3.00a5.00 eachi Mve Green fruits—Apples, per basket. .00; box, 1.50a3.00; per barrel, 2.00 26.00. 'California oranges, per crate. Florida, 3.00a3.76, Lemo) 3.00a3.50. Grapefruit, 3.00 berries, 4.00a.50 per one half barrel. N Vegetables—Potatoes, nearby, barrel, No. 1, 2.50a3.00; No. 2, 2.00. 'Potatoes, round, Der bag. 3.25; sweet potatoe: Southern letts per box, 3.75. per 1.50a 75a , per crate, 1502 ; lceberg, 3.26a3.75. Cabbage, northern, 3.50a4.00 per 100 lbs.; Flor- ida, 2.G0a3.00 basket; nearby, 1.00a1.50 barrel. Tomatoes, Florida, 3.00a4.50. Beans, southern, per bask, 4.00a6.00. Peas, per basket, 4.0028.00. Celery, Florida, 2.75a3.00.° Squash, 4.0026.00. Peppers, per crate, Florida, 3.5026.00. Eggplant, 2.00a4.00. Kale, per barrel, per 'barrel, 4502 Texas, per basket, 1.75a2.00. beets, 2.00a2.50. Carrots, 2.00a Southern cucumbers, per bushel, 5.00u8.00. Carrots, 100-lb. sack, 3.23a 3.50. Brussels sprouts, 30a35. Florida lima beans, 2.5085.00. GRAIN AND PROVISIONS. BALTIMORE, Md., March 4 (Spe- cial).—Fotatoes, white, 100 1bs.,, 902 2.00; 150-1b. sacks, 1.40a3.00. Sweets and yams, bbl, 2.50a8.00; bu., 1.00a 3.25. ° Beans, bu., 3.0025.00. 100, 4.00a6.00. Broccoli and kale, bu., 50, Cabbage, 100, 4.0026.00. Savoy, 100, 4.00a6.00. Celery, crate, Spinach, bu., Carrots, crate, 2. Caulifiower, 25 craty 6.00a 1.50a3.00. . Cucumbers, Eggplants, crate, hamper, 1.50a2.00. _ Onions, a2.75. Oyster plants, 100, Parsnips, basket, 65a75. hamper, 5.00a6.00. _Peppers, 3.0025.00. Spinach, bu., 1.65a 1.75. Tomatoes, _crate, 1.75a4.25. Squash, crate, 4.0025.00. Turnips, bu., 35a40. Apples, packed, bbl 50a1.50; box apples, 1.5 5. Grape- fruit, box, 1.30a2.75. Oranges, box, 2.25a3.00. ~ Pineapples, crate, 3.50 4.00. Strawberries, qt., 40450. Settling Prices on Grain. Wheat—No. 2 red winter, spot, 1.17; No. 3 red winter, garlicky, spot, do. mestic, 1.18; exports, noquotation: 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- 2 corn, spot, 92%; corn, spot, 89%; track corn, No. 3, new, 92. Sales—None. : Oats—No. 2 _white, 58a68%; No. 3, white, new, 57a57%. Rye—Nearby, §0a85; No. 2 rye, spot, 79%. .lgay—Rewlpls. thirteen tons. The market for good timothy, light clover mixed and strictly No. 1 clover is steady to firm, with a good demand for such stocks and the supply not burdensome. Medium and low grade hay io in ample supply, dragsy and of ‘uncertain value. Quotations: No. I 28, ; No. 2, 27.00a27.50; No.' 3, 24.00a26.0 No. light clover mixed, 26.00a27. clover, 23.00a24.00; No. 1 mixed, 25.50a26.00; No. 1 25.00a26.00. Straw—No. 1 straight rye, 25.00 !’COI' ton clover, 24.00a DAIRY PRODUCTS. BALTIMORE, Md., March 4 (Spe- cial).—Live poultry—Turkeys, pound, oung chickens, 22a37; Leg- 2a24; old roosters, 16; old leghorns, 23a24; duck!.l geese, 18a25; 40a Dressed poultry—Turkeys, pound.l 18a30; chickens, 20a32; ducks, 28a32; old roosters, 16al7; geese, 20a24; capons, 32a36. Eggs—Loss_off; native and firsts, dozen, 25; southern, 24. Butter—Creamery, good to fancy, pound, 46a50; prints, 49a51; nearby creamery, 43a4b; ladles, 32a33; rolls, 29a31; store packed, 29; dairy prints, 29a31; process butter, 39. CHICAGO LIVE STOCK MARKET. CHICAGO, March 4 (United States Department of Agriculture) —Hogs— Recelpts, 32,000 head; slow; 10c higher; big _packers inactive; talking steady: good choice 225 to 300 pound butchers, 7.40a7.45; top, 7.50; desirable 160 to 200 pound averages, mostly 7.20a 7.35; packing sows, 6.3526.55; strong weight killing pigs, 5.7586.15. Cattle—Receipts, 11,000 head: better grades beef steers strong; top matured steers, 11.75; several loads, 10.50a11.50; best vearlings, 10.60; bulk red steers, 8.25a10.25; desirable light weight heifers strong; welghty kinds and better grades heavy cows siow; packers taking bull of light and fancy weight veal calves at 10.00 downward; few to outsiders up- ward to 11.50; stockers and feeders firm; bulk, 5.50a8.00. Sheep—Receipts, 13,000 head; killing classes slow; feeding and shearing lambs steady; fat lambs, 25c lower; choice 81-pound fat wooled lambs to cify butchers, 16.00; looks 25c lower; odd lots natives, 13.50a13.75; no early sales sheep; good shearing lambs, 15.25215.30. TODAY'S CHICAGO PRIGSS. CHICAGO, March 4.— Speculative selling of corn had a bearish effect on the corn market today in the early trading and on wheat as well. Com- mission houses became buyers of corn, though, on the decline and helped to check the weakness. Mean- while, country offerings of -corn to arrive were n to nothing. Initial prices, which raoged from.% decline to a shade advance, May 81 to 813, followed by a moderate setback ound. Wheat and oats were easier, iIn sympathy with corn. After opening at % lower to % advance, May and July beth 1.11% to 1.11%, the wheat market hardened a 'trifle and then underwent a general sag. Oats started unchanged, May 48%. gave nearby and then receded somewha Higher quotations on firmness to provisions. EAT— Close. lfl& % May- . 3 4 ay . July - vs tember' LARD- Ppounds, a reduction of about 6,000,000 f , JARP—. pounds from the 1922 figures. The de- | July crease was largely attributed to an apparent reduction of pounds in the Australian clip as com- |, BF pared with_ 1922, 130,000,000 ay Juiy . July .. 0029.00 per bar- | & k | paratively high price. % |the same average. PRICES ARE HIGHER ON LOCAL BOARD Capital Traction Highest in Weeks — Two Redmond Companies—Notes. Trading trend improved on the h | Washington Stock Exchange this morn- ing and marked strength prevailed in several favorite issues. Capltal Traction stock sold to the extent of twenty shares at 95%, its highest price in weeks, while Wash- ington Gas Light recovered to 50 on sales of five shares. Railway com- mon likewise was strong, fifty shares selling at 71%, highest point on the present movement. Bonds were firm, but for the most part unchanged. Capital Traction 58 sold at 96% and 96%, with Washing- ton Gas 5s active at 94%. Thirty shares of American Security and af:?a&g;np:un); s;l)ld EL 308 oud 302%. o , 4 G’rm- Separate Redmond Firms. . F. Redmond & Co, Inc., New York city, with offices here in the Southern’ ‘building, which was en- Jolned and restrained last night from further dealing in securities by the attorney general of New York, has no connection with the well-known stock brokerage firm of Redmond & Co.. which maintains a branch in Washington Preliminary investigation of the firm has established it as “the largest bucket shop yet to fall into the net of the Martin law,” which has rid New York city of numerous fradu- lent security dealers in the laet six months, while the firm of Redmond & Co. s an old-established invest- mont partnership of unquestionable standing. Redmond & Co. operates d locally at 1516 K street northwest, under e management of Frank P. Morse, who has headed it for the last three years. ~They are members of the New York, Pittsburgh and Phila- delphla stock exchanges. New U. S. Financing Soonm. Within a week or ten days the government will do some new financing. Just what form the fed- eral offerlng will take is not known. although it is expected that either certificates or ehort term notes will be sold. There are approximately $700,000,000 Treasury obligations falling due on March 15. There will also be payable at that time the initial instaliment on account of 1923 income tax returns. In addition to certain interest pay- lnents on March 15, there will mature “wo issues of Tredsury certificates of indebtedness amounting to $570,000. 000. One issue amounts to about $321,000,000, bearing 4% per cent in- terest, while the other approximates $249,000,000, bearing 414 per cent. It ‘is believed that Secretary Mellon will ask for between $400,000,000 and $500,000,000 before March' 15. Bank- ers are not so much interested in the size of the offering as in the rate the paper will bear. Banks and corporations have been large subscribers to this government short-term paper, and money stu- dents have been emphatic that this heavy bank participation in govern- ment security offerings has much to do with keeping money rates at high- er levels than would otherwise be the case were the government out of the money market. W. B. & A. Declares Dividend. The regular quarterly dividend of 13% per cent has been declared on the preferred stock of the Washing- ton, Baltimore and Annapolis Electric Railroad Company. The dividend is payable April 1 fo stockholders of record March 22 _— J0CENT EGGS NOW POSSIBLE IN CITY Supply Very Large Due to Warm Weather — Sharp Drop in Meat Is Reported. Eggs were 26 to 28 cents a dozen wholesale today and going lower, after a gradual decline from a 40- cent quotation a month ago. Produce dealers, specializing in eggs along Wholesale row today indicated that before long the price may be down to around the 20-cent point. Supply is generous and increasing daily with the advent of seasonable weather. Beet, retail, has also dropped on an average of about 5 cents a pound during the past month, pulled down partially because of the well supplied market of pork, which has been on lower levels than usual. The choice porterhouse steak which cost about 55 cents a pound a month ago can now be bought for from 45 to 50 cents. And a similar range of prices along this line holds good. Lent Cuts Meat Sales. Lent is a day off and the fresh meat dealers are looking for this season to dull their market, while the fish han- dlers_are expecting brisker business. The Potomac supply especially is ex- pected to open in good earnest after March 15. Fish are following at pres- ent the scale of prices quoted in the New York and Philadelphia markets. During Lent, however, the supply of meat will be ‘cut down perceptibly. Veal has held its own for the past month and is adhering to a com- Coming back to poultry, the turkeys, which have been running low prices for some time, are be- coming more scarce daily, with the result” that where hens could be bought for 30 or 35 cents a month ago, they are bringing from 35 to 40 cents today, .and toms are bringing 26 to 32 cents instead of the recent price of 25 to 30 cents. Chickens Are Scarce. Frying chickens are scarce and bringing 35 to 40 cents, while broilers are quoted at.from 45 to 55 cents. “ Butter, of course, is controlled by the New. York and Chicago quota- tions, where extra creamery was sell- ing 59 to 61 cents retail last week. The New York market is expected to take a drop owing to sizable im- portations of foreign butter. More than half a million pounds from Den- mark arrived in that port last week and more from other foreign coun- tries is reported on the way. Word from New York is that butter will be lower this week. North Carolina, Georgia and Flori- da are sending up shad, which are bringing 35 cents a pound retail for bucks and 45 cents a pound for roe shad. The southern shad quotations in Washington are from 10 to 20 cents below the New York market. Potomac shad will not be up the river for some time. Cabbage Prices Jump. Cabbage has jumped 100 per cent tn_price over a month ago, although other commodities have held about The Norfolk freeze has affected the market for spinach, much of it being snow-burnt and yellow. Cabbage is scarce and the majority of it is coming from Florida—the freight rate alone being about $1.10 a basket. gt It pays to read the want columns of The Star. Hundreds of situations are through them. .67 | fllled ¢