Evening Star Newspaper, March 6, 1924, Page 28

FIN OLD-TIME LEADERS i ARE IORE ACTIVE Can, Steel, Studebaker and Baldwimr Gain—Dry Goods " Shares Do Well. 1 ] BY STUART P. WEST. ‘$pecial Dispatch to The Star. NEW YORK, March 6—Today's stock market developed more general strength than it has shown in some time. Oil shares which had been the leaders Wednesday were not as prom- inent, although maintaining’ and as a rule somewhat enlarging their ad- vance, Old line leaders like American Can, United States Steal; Baldwin Loco- motive and Studebaker came more to the front. Much of the buying in these stocks came from southern Tesorts. Sugar Shares Strons. Sugar stocks received more atten- tion under the lead of South Porto ANCIAL. " NEW YORK STOCK EXCHANGE - THE EVENING STAR, WASHINGTON, D. C, THURSDAY, MARCH 6, 1924, ' Received Dy Private Wire Direct to The Star Office | Atr Reduet (4) Ajax Rubber. | Alas Gola Mines. - Alaska Juneau. . Allied Chem (4). Allis-Chalm (4). Am Agri Chem. . Am Agri Chem pt Am Beet Sugar, Am C&Fpf (7). Am Chain A (2). Am Chicle. 5 Am.&F.P.25%pd Am Hide & Lea... Am Hlde& Lpt.. AmTea (1), Am Internat Am Locomo (6). Am Metal (3)... Am Saf R (50¢).. Am Sm & Re (6) AmS&RDf (7). Am Stl Fays (3) . Am Sugar...... Am Sugar pf (7) Am Sumat Tob Am T & Tel (9) Am Tobac (12) Am Tob B (12) .. Am Tob pf (6) ... Am Whol pf (7). Am Woolen(7). % 1174 | Mathieson Alkafi 169% | Maxwell Mot A... 121% | Maxwell Mot B... 2134 | May Dpt 8t (5).. 19% | Metro Ed pf (7) board 19 Uil 4% 11% 54% 92 21% T4% 42% % 60% 98% 88% 56% 97% 21% % 103% | Nat Dept Stores. 46% »lan Blemd gtd. 11% MaracaiboOll. . 84 42% | Marland O, ... . 84% | Marlin-Rockweii MSRprpf (s a7 12! % % 80% | Mart-Parry 13),. 3414 5% 34 14 Mex Seal 94y | Mex Seaboara ef. Miami Cop (2)... 1% 571 | Midale St Of1. 92 22 5% 42% | Missour| Pacifie. Minn & St Lou Mis Kan & Tex... Min K & Tex pf. % | Missouri Pac pt... 61 Mont Power (4) . 981 | Montgom Ward.. 2814 | Moon Mot (3). .. 58% | Mother Lode (1) 97% | NasH Mot (+835) 110% 22 130 150 146 99% 25% 8% Nash Mot pf (7). 10 Nat Biscult (3). oy Nat Bis pf (7)., Nat Dairy Prod.. Nat En & St & 524 63! % 88! 92 % 1% Close. 8% o8 FURTHER ADVANCE | INST.PAUL BONDS i e " 3 a8 | Liberties Irregular—Chemi- 3% 52 37 18° 304 3¢ 53% :‘h BY GEORGE T. HUGHES. Argentine 7s. 9134 | Special Dispatch tg The Star. . | Argenti 21 NEW YORK, March 6.—A further | Austria 19% | speculative advance in Chicago, Mil- Belglum?7 22% | waukee and St. Paul 4 per cent bonds, ;“: due June 1, 1925, was the feature of 1% today's market. On Tuesday these 31% | bonds sold at 73%. They advanced 123% | Wednesday from this point to a high 8% [of 78, reacting only a quarter of a 82% | point at the close. Today, under active bidding, they crossed 81, losing, how- ever, a part of the gain later, conse- lquem upon profit taking. A rise of more than seven in two days attracted wide tion in the case of such an bond. (Fractions _represent Example: e Lib g Lib !“ cal Shares Weak—French |Lib3a 1 Lib 34 4% Liens Slightly Lower. |58 §i%e, 639 US4%s1952. 468 Canada 5%3 1929 Canada bs 1931. Canada 58 1952. Chile 85 1946. Chile 851941. .. Chile 75 1943 Chinese Gov R: The only explanation today |Christiania 8s. was the same as that advanced Wed- | Copenhagen 6% 40% | nesday, namely, that negotiations for |Cuba 5%, 33 | the refunding of this maturity were 8% points atten- active [ zv vonx BONDS oo sicuance] (Bales are in $1.000.) UNITED STATES BONDS. 98-3 means 98 3-32.) FOREIGN. fillu. High. et epos mpanaenanaRER-ERE - Wire Direct to The Star Offica. RAILROADS. Sales. High. Ann Arbor 4s Atchison gen 4i .| Atchison adj ¢ AtlantieCL c) 4s.. B&Oprinty B &Ogold 4s. O 6s Close. 57 86% 9% thirty - seconds. 88 101% 86 88% 80% % W i ., Close. 3% o SOt |BKLR T 7821 & o3 105" | Butt R&Pite ¢ Canadian North7s 9 Canad North 6%s. & Canad Pac deb 4s.. 15 Car Clinch &0 6s. 9 Cent of Ga. Central Pacific % Ches & Ohilo cv Ches & O cv 438 Ches & O gn 4348 Chi & Alton 3s. Chi & Alton 335 Chi B&Q 1st rf 8 CM& Puget Sd 4s. 2 ChiM & St P rt 4% 67 ChiM &St Pcvos. 43 ChiM & St P 4s '25.786 50a2.00; box, 1.50a3.00 % | 25.50. 'Call FINANCIA Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. ~A slight downward tendency 15 in- dicated in the butter market. Butter prices have been reported as being high all winter, and the past few days several drops of % or 1 cent have been reported. Prices todzy covered a range of from 49 to 56 cents, the higher price being for fancy extras. Dealers say they do not anticipate any decided change in prices before June. Egg prices havé undergone no change the past two days. Recelpts continue fairly heavy, and the de- mand s fair. Pouitry continues scarce and prices high. 2 trictly fresh, selected, can- {led, per dozen, 26; average recelpts, " “Live poultry—Roosters,-per 1b., 17; turkeys, per ib., 25a30; spring chick- ens, per 1b., 33ai5; keafs, young, each, 60a70; fowls, per 1b., 26a27. Dresed pouitry—Fresh-kiiled spring chickens, per 1b,, 35238;.roasters, pe ib., 32a33; hens, per Ib, 28a3 keys, per lb., 30a35; keats, each, 80; roosters, per 1b., 20. Live stock—Caives, choice, pe: 13a13%; medium, 17a1s; thi 1b., 6a8. Lambi Live pigs, 3.00a5. per 1b., 7%. Green ‘frults—A 3 tur- young, v spring, per 0 each; live pples, per basket, ; per barrel, 2.00 lifornia oranges, per crate, 3.50a5.00. Florida, 3.00a3.75. Lemons, per box, 3.00a3.50. Grapefruit, 3.00a 5% | Nat Lead (8) . 142 under way. The other St. Paul bonds - Csechoslovakla 3.50. Cranberries, 4.0024.50 per one- NEWU.S.FINANCING @ PLANS OUT MONDAY Next Issue to Be $400,000,- 000 or More—Life Insur- ance Sales Show Gains. On Monday next the Treasury De- partment will announce its new financing program, it was learned at the department this morning. The issue will be dated as of March 15, 1924, Other details, while already decided upon by the government, are not known to the public nor will they be until the flotation is actually marketed. However, it 16 expected to take the form of either certificates or short term notes, or both, to the 7 |amount of between $400,000,000 and $500,000,000. Bankers are not so much interested in the size of the éffering as the rate the paper will bear, which, it 1 belleved, will not exceed 4% per cent. There are mpproximately $700,000,- 000 Treasury obligations falling due March 15. There will also be payable on that date the first installment on account of 1923 income tax veturns. 101% | Nat Lead pf (7). % | Nat Sup pf (17 92 | Nev Cons Cov, half barrel. Vegetables—Potatoes, barrel, No. 1, 2.50a3.00; 114% |shared in the improvement, but g0 a much less degree, Rico Sugar. This stock, paying 6 per | Am Wool pf (7). Danish Munic 8s A went, looked pretty high around 95,|Anaconda... ‘unless on the supposition that the | Arm pf Del (7) 106% 106% nearb; er 107 1074 No. 2, '1.50a ' dividend is to be raised or, as was re- ported, that there is to be a capital split up. The street was Inclined to take the latter report seriously. Fig- ures were given out to show that Cuba Can Sugar was considerably ahead of last year In the making of its crop. The Cuban producers have sold any- where from a quarter to a third of their product, and the selling has been done at considerably higher prices than those of a vear ago. Yet, with 1923 prices, the Sugar companies made a remarkable show of earnings. Worthington Pump rose sharply on unusually large transactions. Ap- parently this was belated recognition of the good showing made in the 1923 report. After paying dividends on both classes of preferred, the com- pany has a surplus equal fo a little * more than $5 a share on the common. It had unfilled orders at the begin- ning of January of $5,611,000, against $5,331,000 the vear previous. It was able to show in its balance sheet cur- ts of $18, as _against liabilities only $1,740,000, Merchandise Issues Gain. Department store shares and stocks representing the retail merchandise trade were in strong demand. Wool- worth, well above 300, and Assoelated Dry Goods, also at a new high, were the features. May Department Stores s drawn along and there was in- ased activity at rising prices in tional Department Stores. Among the rails Missourl Pacific referred made a new high, above 38, n response to the disclosure that had it not been for abnormal appro- Driations for maintenance earnings Wwould have been running at the rate of over $10 a share. Considering the extraordinary rise in St. Paul bonds, the stocks did very little. Northern Pacific did better on the recommenda- tion to vote the regular 1% per cent dividend, which was only announced Just before the close Wednesday. Tobacco stocks were taken up for a time, with special attention given to- bacco products and Shulte Retail Stores. ~Short covering made its ap- pearance in American Woolen, large block of Texas Pacific Coal and Oil ‘was taken off the market at 103, and this led to a quick rally to 11. Asnocinted Dry Goods Active. The renewed buying in Assoclated Dry Goods common was done with one thing particularly in mind—the surplus of $8.703,865 as of December 31, 1023, representing undistributed profits earned since September 20, 1916, less $164,457 transfetred to capital reserve. One of two things, it is thought, is apt to be done with the surplus. Kither higher dividends will be paid or the company will acquire another store, _The downward movement in Coca Cola resembled the recent decline in Such stocks as the leathers. fertiliz- ers and rubbers and tires which have borne the brunt of professional ate tack. The 1923 income statement of the " company was disappointing, showing a balance for the common of only $7.65 a_share as against $11.14 a share in 1922 There was bearish talk regarding the outlook for future disbursements at the current rate. . The prospect of another advance in crude and refined oil prices in the California and midcontinent _terri- tories was behind some of the buying in the oil stocks again today. Reports of crude oil output in the United States today indicated a fur- ther slight falling off last week. The “market for the oil shares is believed by mapy to have discounted to a large extent any moderate raising of prices which may com. FOREIG (Quotations furnished by W. B. Hibbs & Co.) Nominal 'Selling checks, gold valve. today. London, pound 4.30% Bontreal, dolls o7 Yaris, franc. Brussels, fra 4.8665 oo ne. Hudapest, Prague, crown Warsaw, mark. Copenha Christlan Stockholm, crow: By the Associated Press. NEW YORK, March 6.—Foreign ex: eltange Irregular., Quotations in Unitea States dollars: Great Britain, demand, 4 bles, 4.297% day bills on 4. demand, .0396 demand, .042 Zium, demand, .03413%; Germany, demand (per trillion), .2: Holland, demand, ,3719. Norway, de. mand, .1353. Sweden, demand, .2611. Denmark, demand, .15679. Switzerland, demand, .1730. Spain, demand, .1220. Greece, demand, .01631. Poland, de- mand, .00000012." Czechoslovakia, de- mand, .0289%. Jugoslavia, demand, .0126. Austria, demand, .000014. Ru- mania, demand, .0053. Argentina, de~ mand, .3412. Brazil, demand, .1215. T(;MIQ‘S demand, 413. Montreal, 96 21-32. —_— Kansas is geographically the cen- tral state of the United States, being equally distant from the four boun- | daries of the country. N. Y. Stock and Bond Averages. ’ Wednesday, March 5. ' STOCKS. Total stock sales, snares. Twenty industrials averaged 97.97; net gain, .13. High, 1924, 101.24; low, 94.88. Twenty railroads averaged 83.62; net gain, .15. High, 1924, 85.90; low, 83.47. BONDS. Total bond sales (par value), $9,573,000. Ten first grade rails averaged 86.50; net gain, .04, Ten secondary rails averaged 83.50; net gain, .05. Ten public utilities averaged 86.85; net loss, .08. ¢ Ten industrials averaged 93.67; net gain, .01. Combined average, 87.38; net unchanged. Combined avetage 88. i 675,700 month ago, Arn Cons & Co. AssoDry G (5)... Asso Ol (1%). At T & S Fe (6) AT&SFpf (5). Atl Birm & At. At Coast L (7). Atl Fruit ctfs. AtGuIf& WI At Gulf & WIpf. Atlantic Ref (4). Atlas Powd (4) Austin-Nichols Auto Knitter. Bald Loco (7). Hal & Ohio (5) . Bal & Oh pf (4) Rurnadall A Barnsdall B, Bayuk Cigar. Rath Steel (5). Boone W Mills Booth Fisheries. Booth Fish 1st pf Br'k Edison (8). Br'k-Man Tran... Rr'k-Man Tr pt.. Brklyn Un G (4) Burns Br (10)... 1 Burns Br B (2) But C& Z (50¢).. Butte & Supericr. CaddoCenO &R Cal Packing (6). Cal Pet (1%) Callahan Z Lead. Can Pacific (10). Case T M pf (7). Cent Leather Co. Cent Lea Co pf. .. Cer de PasC (4) Chand Mot (6) .. Ches & Ohio (4). Chic & Alton pf. Chic Gt West. Chic Gt West pf. Ch M1l & St Paul. Ch Mil & St P pf. Chi & Nwn (§).. Chic R1& Pac.... CRI&PDPL(6). CRI&PDL (7). Chile Cop (2%) - Chino Copper . Coca-Cola (7). Colo Fuel & Irol Colo Southern. Col G & E (2.60). Col Carbon (4) Congoleum (3) .~ Consol Gas (5) ... Consol Textile. ... Cont Can (4) Cont Motors. Corn PrR (19) Corn Pr R nw wi. Corn Pr Rpf (7) Cosden Cu....... Crucible Stl (4) Cub Am Sug (3). Cu Am Su pf (7). Cuban Cane Sug. Cub Dom Sugar. Cub Cane Su pt.. Davidson Chem. . De Beers Mines... Del & Hud (9)... DelL&W (6)... Dome Mines (2). Du Ptde N (8)... Du P de N db (6) EastK (16%)... Eaton AX (2.60). El St Bat (15%) Ei Famous P! (8).., FaM&Spt (7). Fifth Av B (64c) Fisk Rubber. Fisk Rub pf Fl'chm'n (3% Foundation (6) Freeport-Texas, ! Gen AmTC (3). Gen Asphalt. . ... Gen Asph pf (5) . Gen Cigar (8) . Gen Elec (8)..... Gen El spe (60c) Gen Mot db (6) | Goodyear pf. 3t North pt (5) | Gr Nor Ore (3)... | Grt Wstn Su (8) | Guif St St (6).. Hanna 1st pf (7). Hartman Co (4). | Hayes Wh'l (3). | Housen'd Pr (3). Houston Ofl Hud Mot C ( Hupp Mot C (1) Hydraulic Steel.. Illinots Cent (7). 111 Cent pf (6) . indiahoma Ref. Indian Motorcyc. Indiun Refining.. Inger R (128)... Inland Stl (2%). Inland Stl pf (7) { Inspiration Cop.. { interb Rap Tr... Int Bus Ma (8).. Int Cement (4) .. int Com Eng (2) Internat Har (5) Int Mer Marine Internat Paper.. Int Pap pfst (6) . Int Shoe (4).... IntT&T (6) Invincible Ofl. ... Iron Prod {1%). Jones Bros Tea. . Kansas & Gulf... Kan City South.. Kayser Jul & Co.. Kelly Spr Tire.<. Kel Sp T pf (8).. Coj Keni P (3) Keystcue T& R.. Lig & My (new). Lig & My B(new) Lig & My rts. Lima Loco (4) LoewsInc (2) ... Loft,Incorpor. . .. Loose-Wiles Bis. Louls & N'sh (5) 88% Ludlum St (2),.. 22 Meclntyre (1). Y 210% 208% 1 14% 100% 104% 1 21% 4 3 3 114% 114w 200 200 87% 693 32 9% | N 96% | N 2% | N OrT&M (7).. Y AirBr (4) .. ¥ Central (7). 99% '\ ¥ C-Readg rts. 7% N Y C & StL, 1% | Ny Cc& 114% 1% (6) . StL pf(6) ock. NYNH & N Y D 17% | g 173 | ¥ Y Ont & West.. N 1 4% | Ohio Bay & BI 123% % 584 Okla Pr & Ref. Orpheum (1% m:s Flevat (8 51% | Pacific Coast 57% | Pac G & E (8) 81% Pacific Ol (2). .. 5% | PacT&T pf (1%) 37 Packard (1.20).. 110% | Part Amer (8) 15% Pan Amer B (8) . 57% | PennC&C (4).. 59% 102% 24% 5% 1T% 2% 84% 25 4% 145% 50 12% 33% a 23% | Penn Rallra (3) Penn Seab Steel., Peop Gas Ch (7) Pere Marq (4).. Phila Co (4)..... Phila & R& T wi, Phil Mor (50c).1 Phillips Pet (2). Plerce-Arrow. Pierce Ofl. Pierce Ol pf. Pitts FtW&C (7). Pitts Util pf 95¢.. Pitts Ut pf ef 95¢. Pitts & West Va. Postum Cer (4). Postum pf (8).. Prod & Refiners. PubSer N J (4). Pub § El Po()pf. Pullman Co (8).. 1: Punta Al Su (5) Pure Oll (1%) Ry St Sgpf (7). 8714 | Ray Cons Cop. 773 | Reading (4) 274 | Reading rts. 17% | Remington Type. 70 Replogle Steel. ... Rep Ir & Steel. Reynoids Spr (2)’ 52 [ Rey Tob B (3).. 643 | Roy D'tch (3.46) 63% | 5t Jos Lead (12) 6% | 5t L, San Fran 80% | St .-San Fr pt 7% 1St L Sothwest. . .. 177% | 5t L S'th pf (5).. 118% Santa Cecilia Savage Arms, 35% | Schulte (§8) X Studebak pf (7). Seaboard Afr L... 97% | Seab'd Air L pt.. !g!fi ssg 55 Sears Roe & Co... Shell UnOll (1). Shell Un pf (6) Skelly OIl. .. 17% | Sloss-Sheft (6} . 181 So P Kico Su (6) 86% | South Pac (6)... 19% 110 22% 62% 25 30% Southern Ry South Ry pf (5).. Spicer Mfg. Stand Mill (5) St Ofi Cal (2). StONNNJ (1). StolNJIpt (7). 67% | Stew't War (10) 4% 1 StrCar (19%).... Studebaker (10). 8% | Superior Ofl..... 60 48 3% 10% Tenn C &Ch (1). Texas Co (3).... Tex Gulf S(6%). Texas & Pacific. . 42% | Tex & PacC&O. 41 6% 904 209% 1 Third Avenue. ... ‘Tide Wat Oll (4) Timken (3%) Tob Prod (6). ‘Tob Prod A (7 16% | Transcont Oil. .oz 50 50 813 99 | Underwood (3).. 1 Un Pacific (10 Un Pac pf (4) 6% | Un Tank Car ( 22% | United Drug (6). 42% | Utd Ry Invest pf.. 66% | USCIP (2)... 29% | USCIP pf (7)... ¥2% U 8 Hoff Mach 82% | U 'S Ind Alcohol.. 94w 40% 46% 27 16% 101 104% 1 8 03% 7 % 12 1 USR&Im (8).. USR&IPL (7).. U S Rubber...... US R 1st pf (8) 'S Sm’t pf (3%). S Steel (15%4). U 8 Steel pf (7). Utah Copper (4) Utah Securitles. . Vanadium Corp, Van Raalte. -Caro Chem. v % 21% % Zin| Va-CaroChem B. 174 Va-Caro Ch pf. ... V Vivaudou (2).. Vulc Det pf (7).. Wabash. .. ‘Wabash pf A. i | Wald Sys (1%) . 43 26% 85% Web & Hellb (1). West Maryland... , Western Pacific.. West Alr Br (6) . Wil & Copf (7).. 21% | wiliys-Overland. 8 114% 200 89% :szw. Int 50% 164 | Alive, lo ‘Willys-Over pf. Wright Aero (1). Youngst S&T (5). {Partly extra. 11 67 diyidends are ot Call Money. HOURLY SALES eeee. 267 300 1 §Payable el % High. Low. Last. % 6% 6T% in preferred Dividend rates as given in the above table are the annual cash payments based on the est quarterly or half-yearly declarations, ‘special Unless otherwise noted, exara or included, “% OF 8TOCKS. Pm...c. 471 800 390 900 2p.m. LIVE POULTRY LOWER. March 6. % -CHICAGO, 3 fowls, i geeve reonte.n.}l 23 18. Other Honds Strom Missouri Pacific issues participated in the favor shown toward the St Paul bonds. The general 4s made another new high for the year and | there was a similar advance for the 6s of 1949. Here the rise could properly be ascribed to an improved earnings report. In general, bonds were firm ‘to strong, and Rio Grande 4s being conspicuous. Baltimore and Ohio junior bonds also did better. In the investment list, however, heaviness continued in the senior bonds of the northwestern roads, especially the Northern Pacific. The mere fact that there should be any discussion about the maintenance of the Northern Pacific dividend operated to weaken the position of the bonds now legal investments for savings banks. Libertys were irregular with some !further reaction in the old 4% per cent issues. Little interest was shown in the general high-grade in- vestment list. Chem! Invues Weak. Among industrials, American Agri- cultural Chemical 7%s showed further weakness, and the Central Leather 5s reacted from yesterday's high. Virginia-Carolina ' Chemical first mortgage 78 were a little lower and the 7% per cent debentures with warrants a little higher. French bonds weakened slightly, but the loss was not commensurate to the drop in franc exchange. The bonds were very inactive. Evidently there Is no pressure to sell. Mean- while the mid-European group of bonds was firm under the leadership of the Jugoslav 8s, which were up a point at one time. COTTON OIL FIRM = INCLUDEDINACTION ?5‘%‘ Virginia-Carolina Subsidiary zz% Petitioned Into Bankruptcy ::: by Creditors. 23% 6% Framerican 7%s. . French Govt §s @ HRROREaNR~ Gma Italy 6%s 1926. Japanese 1st 418, Japanese 2d 4% Japanese 4s.. Japanese 6%s w1, Jergens U M 65 °47. Lyon 6s. . Marseille 6s Mexico bs. Montevideo 7s. Netherlands 6s. Norway 8s. Norway 3 Norway 6s 1952 Orient Dev deb Parls-Ly's-Med Prague T4%s railroad Denver specalative Queensland 7s. Queensland 6s. ... Rio de Jan 85 1946. 1’ Rio de Jan §s 1947. Pio Gr Do'Sul 8s.. Sao Paulo City 8s Sao Paulo State 8s. 1 Seine Dept of 7s... 17 Serbs Crotes Slo 85264 Sweden 6s. . 3 q 2 1 Ud Kingm 5%s'29 3 Ud Kingm 6%s '37 146 Ud Steam Copen 68 Uruguay 8 Zurich §s. i | Am Agr Chem 7%3115 AmChainsf6s'33. 1 Am Smlt&R 1at bs. 26 Am SmUt&R 6s.... 9 Am Sug ref 6s AmT& T cv 6 AmT & T ol tr b AmT&Tcltrds. . 4 AmT & T deb 53%a122 Am Water Wksos 3 Anaconda cvdb7s 18 A 97 119% 64% 25 114% Atiantic Refin 5 Bell Tel Pa 58 Beth Steel 5%, Beth Steel pm & Beth Steel 81 6s.... Brier H St 1st 6% 3514 | B the Associated Press. Bkiyn Edison 7s D §1 | NEW YORK, March 6.—The South- | Bklyn Ed gen 5s.. 2 | emn Cotton Oil Company, a subsidiary | Bush T Bldg 5a60. 45% | of the Virginia-Carolina Chemical G2 18 0%S. ..o - 1043 | Company, was petitioned Into tnvol- { CREFE LEALEr 5 Wg%' untary bankruptey today. Commonwth P 6s.. 195 | _AD equity suit was brought against | Con Coal Md 1st 55 903 | the Southern Cotton Ofl Company and | Cuban-Am Sug 8s. 18% | the Virginia-Carolina Chemical Com- | Cuba Cane C";’!Fx-a pany in Jersey City last Monday by a | Suba Cane cv 1s 3 number of creditors, and receivers | Donner Steel 7s. .. were appeinted. Du Pont de N 7%3. Anclllary recelvers were also ap- | Duquesne Light 63 rointed in this city by the United | Est Cuba Sug 7% States district court. In the papers | Bmpire G&¥ T%s filed on that date the liabilities of the Southern Cotton Oil Company were | Gen Elec deb 5s stated as $11,600,000. The bankruptey ; Goodrich m‘- petition was sigued by C. Heidt &|300dvear s of Son, Inc, of Jersey City: Adolph H | gor ¥al%, %o Salomon, New York, and the Young | jumbie O&R 5 ‘'ommission ‘'ompany, ne., New York, Their claims " totaled about Hlizais beth 1ut Will Name Redmond Receivers. Indiana Steel bs Int Mer Marine 6 Int Paper 1st 58 A. BOSTON, March 6.—Federal Judge | & & p & Lt 85 A 52, Morton announced today that he | O &SGR Would_appoint receivers for the firm | KayseL () 15, of G. F. Redmond Company, Inc, the Lirl fnvestment brokerage house closcd yesterday by federal injunction and Brolluonamns= - Lackawa 8 58 50. . Liggett & Myrs Ts. the subject of a creditors’ bank- | Liggett & Myrs Gs ruptcy petition. ““The federal grand jury today be- gan a general investigation of stock brokerage houses here, Protect Realty Purchase. From the American Lumberman. More than 38 per cent of the people of the United States are now protect- ed by state supervision in the pur- chase and sale of real estate, accord- ing to a survey of real estate license laws made by the National Associa- tion of Real Estate Boards. $3,000,000 BOND SALE SOON. NEW ORLEANS, March 6 (Special). —The New Orleans port commission is preparing to sell $3,000,000 worth of bonds to secure funds for the construction of new wharves and the purchase of machinery for loading and unloading commodities. BUTTER HIGHER TODAY. CHICAGO, March 6.—Butter higher: creamery extras, 45%; standards, 46: extra firsts, 45a453; firsts, 44adi%; seconds, 43a13%. Eggs higher; receipts, 10,429 cases; firsts,. 23a23%; ordinary firsts, 21a22. STOCK ISSUE SOUGHT. The Conemaugh and Black Lick rail- road asked the Interstate Commerce 9% | Commission today to authorize issue of $1,000,000 in common stock. Sixteen miles of new line is to be buflt, all in Cambria county, Pa. —_—— - BUYS TAXIMETER PLANT. NEW YORK, March 6.—Ohmer's Fare Register Company of Dayton, Ohio, has taken over the plant of the American Taximeter Company of New York, H..B. Ohmer, vice president and assistant general manager of the Dayton: firm, announces. The Ohmer firm manufactures street car fare registers and printing taxim- eters. The New York firm manu- factures non-printing taximeters. NEW YORK EGG PRICES, NEW YORK, Warch 6—Eggs, steady; receipts, 30,033 cases. Fresh gathered, extra firsts, 25%a26; firsts, 24%a25; Pacific coast whites, extras, 32a33; do., firsts to extra firsts, 28a31% ; refrigerator best, 20%a21. Cheese, irregular; receipts, 81,628 boxes. State, whole milk, flats, fresh, average run, 20%azl. MAY CLOSE ALL MILIS, MANCHESTER, England, March 6. —The Federation of Master Cotton Spinners gave notice today that un- less the strike in a small mill at Roy- ton is tem'l.n ‘ollool; A thn engagemen ,000 o !hs"‘llnlnl le will be broken and all the mills closed. Manati Sug st 7%s Marland Oil 7%s. . Mexican Petrol 8s. Midvale Steel bs. ... Montana Power 53 » Romasanaa - » N Am Edison Nor States Pow - Otis Steel 8s. ific Gas & EIl 63 PacificT & T 58 '52 Phil & Rdg C&1 55. Phila Co 5%5°38.... PhilaCorefds A.. ® SranalossinBon casrndoslantvan - 0 Por Rico Sug 78 gmlthwelt Bell 6s. Steel & Tube 7s... Sug Est Orjent 7s. ‘Tenn Elec Pow wmalumSan West Union 6% ‘Westinghouse 7s. . Wickwire Spen 7s. Wilson & Co 1st 68 Wilson&C cv 7%s. Wilson & Cocv 6s. 7 ‘Winchester A 7%s 10 Youngstn 8 & T 6s. 11 37% 1n 6% stock. “%, e 614 200 Poultry- springs, 28 U. 5. TREASURY CERTIFICATES (Quotations furnished by Redmond & Ce.) 94% 88 934 93% 87% 97 93 881 99% 96% 97 Cleve Term § Den & Rio G cn 4 D &Rio G imp bs. . D&RGstrfts.... Det United 4%s. Erle 1st con 4a. Erle con ext 7 Erle conv 4s D, Gr Trunk st db Int Rap Tr 6s stpd. Int Rap Trans 6s.. MISCELLANEOUS. N Y Centcn 4s°98. 27 New Haven cd 6s. 22 90% | New Haven d 45'57 9 New Haven 7s. 8 New Haven7sfr.. 9 NY W & Bos 435, 28 Norfolk & W cn4s. 7 Norfolk & W cv 6s. 16 Northern Pac 4s... 18 Northrn Pacri6s. 37 Northern Pac5sD. 15 % | Ore & Calif 18t 5s.. 3 OShort Licn 5s°46. 1 Ore-Short Liret4s. 5 Ore-Wash 1st rf Pennsyl gen 5 Pennsyl gen 4 Pennsyl 6%s. Pennsyl gol % | Pere Marq 1at 5 Reading gen Reading gn 4 RIArk & L4ls... St L IM&S R&G 4s. 21 StLIM&S 4s'29... 85 StL&SFplisA, StL&SFprinbs. 3 StL&SFincés... 11 StL&SF5% D 1 StL&SFadj 6 6 StL&SFpl6sC.. 1 StLSW Ist4s 1 StLSWcon4s'32 8 St PUn Dep 5%s.. 26 62%, 68% Sou Pacific clt 4s. Southern Ry 1st & Southern Ry gn 4 Southern Ry 6%s. Southern Ry Third Ave adj bs. Union Pac 1st 4 Union Paclstrfis 5 Union Pacificcv 6s 7 Union Pac 1strf6s 1 Virginia Ry 1st 6: 13 VaRy & P 1st 6. Western Md 4s. 4 Western Pacific s 10 *‘ % 88% 63% % 74t 100 % % West Shore Ist 4s. 2 TOTAL SALES (Par Value): 1:a.m..3655000 12noon 6265000 1p.m. 8012000 2p.m....9035000 —_——— Receipts in Boston Market Are Rapidly Improving. Special Dispatch to The Star. y BOSTON, March 6.—Boston dealers have contracted so far for about 15,000,000 pounds of new clip wool in the west, according to estimates made public today. ~The Summer street market ie qulet, with little change in prices. Receipts Wednes- day were the largest for any day in many weeks—28,604 bags of domestio and fifty bales of foreign wool. = . FREIGHT TRAFFIC GAINS. ST. LOUIS, Freight traffic of the Missour! Pacific raiiroad gained 325 per cent last month over the preceding February, with 78247 cars loaded along its lines and 32,338 from connections. Prospects _are for an even greater increase this month over last March. BOND ISSUE PLANNED. BERN, Switzerland, March 6,—The Swiss government has decided to is- | sue § per cent bonds to the amount of 200,000,000 francs, the proceeds to be used for continuance of the electrifi- cation of the railway lines: SUGAR MARKET LOWER. NEW YORK, March 6.—Raw sugar d - | was less active early today and prices ere % lower, with spots quoted at 1001532 100918 | 716, duty paid. The only business 100 23-32 1002782 | reported was a sale of 11,000 bags of . 100532 1005 | Cubans in port and afioat’to local re- 100916 1002132 | finers. The lower ruling of the spot 100516 100746 | market led to increased selling pres- 16 | jure in raw sugar futures, with 190732, 190516 | prices at midday showing declines of e 4 to 6 points. interests and Houses with Cuban connections were the principal sellers. March 6 (Special).— | 2.00. Potatoes, round, per bag, 2.75a 3.25; sweet potatoes, 7.00a8.00 per barrel. . Southern lettuc,e per crate, 1.50 23.00. ~ Iceberg, 3.25a3.50. Cabbage, northern, 3.5024.00 per 100 lbs.; Flor- ida, 2.50a2.75 basket: nearby, 1.00a1.50 Tomatoes, Florida, 3.00a5.00. Florida, per back, 4.0026.00. Peas, ‘per basket, 4.00a8. Celery, Florida, 2.75a3.25." Squash, 4.00a6. Peppers, per crate, Florida, 3.5026.00. Eggplant, 2.00a4.00. Kale, per barrel, 1.75a2.00. ~ Spinach, per barrel, 4.50a 5.00. Texas, per basket, 1.75a2.00. Texas beets, 2.00a2.50. Carrots, 2.00a 2.25. Southern cucumbers, per bushel, 5.00a8.00. Carrots, 100-1b. sack, 3.25a 3.50. Brussels sprouts, 30a35. Florida lima beans, 2.50a5.00. GRAIN AND PROVISIONS. BALTIMORE, Md., March 6 (Spe- clal).—Potatoes, white, 100 pounds, 90a2.00; 150-pound sacks, 1.40a3.00; sweets and yams, barrel, 2.50a8.00; bushel, 1.00a3.25; beans, bushel, 2.50a 5.00; beets, 100, 6.00a8.00; broccoli and kale, bushel, 40a50; cabbage, 100, 4.00 a6.0/ Savoy, bushel, 60a75; carrots, 100, 4.0026.00; caulifiower, crate, 2.00a 2.50; celery, crate, 2.50a3.00; cucum- bers, crate, 10.00a12.00; eggplants, crate, 1.50a2.50; iettuce, hamper, 2.00a 3.00; onions, 100, 50a2.65; oyster- plants, 100, 6.00a8.0f parsnips, ba: ket, 65a75; peas, hamper, peppers, ate, 4.00a6.0 bushel, 1.50a1.75; tomatoe: a5.00; squash, crate, 4.00a5. bushel, 35a40. Apples, packed, barrel, bushel, 50a1.50; box appl 1.50a2. grapefruit, box, .75; oranges, box, 2.25a3.00; pineapples, crate, 3.00a 4.00; strawberries, quart, 25a60. Settling Prices on Grain. ‘Wheat- 2 red winter, spot, 1.16%; No. red winter, garlicky, spot, domesti 1.17%; exports, no quotations; . 4 red winter, gar- licky, spot, no quotations. Sales—None, Corn—Cob, new, 4.30a4.40 per bar- rel for yellow and 4.15a4.20 per bai rel for white; No. 2 corn, spot, 91%; No. 3 corn, spot, 88%; track corn, yellow, No. 3, new, 92. Sales—Bag lot of No, 3 white at 88; hox lot of yellow mixed at whart Oats—No. 2 white, 58a38%; No. 1 white, new, 57a57%. 7o RYe—Nearby, 80a3; No. 2 rye, spot, ; turnips, 2.00a5.01 0. 3 Hay—Receipts, 33 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 burden- some. Medium and low grade hay is in_ample supply, draggy and of ‘u certain value. QQuotations: No. 1 tim- othy, 28.50 per 27.50a : No. 3, 24 DAIRY PRODUCTS. BALTIMORE, Md, March 6§ (Spe- cial) —Live poultry_—Turkeys, pound, 20a35; young chickens, 23a3! horns, 23a28; old roosters, hens, ' 22a27; 'Leghorns, 22a%4; 2; “geese, 18a25: pigeons, 40a45; guinea fowl, each, 30a60. Dressed poultry—Turkeys, pound, 20a35; chickens, ducks, Zoa old roosters, 16a geese, 20a2 capons, 32a36. Eggs—Loss off, native and nearby firsts, dozen, 25; ‘southern, 24. Butter—Creamery, good to fancy, pound, 46a50; prints, 50a52; nearby creamery, 43a45: ladles, 32a33; rolls, 29a31; store packed, 29; dairy prints, 29a31} process butter, 38a39. CHICAGO LIVE STOCK MARKET. CHICAGO, March 6 —Hogs—Re- ceipts, 36,000 head; heavy butchers. steady to 5 cents higer; good and choice 200 to 300 pound butchers, 7.40 a7.50; top, 7.55; desirable 150 to 190 pound averages, 7.25a7.35; packing 6.3526.70; killing _'pigs, _un- changed: strong weights, 6.76a7.15. Cattle—Receipts, 10,000 head; beef steers, steady to strong; top matured steers, 12.00; several loads, 11.55a 11.90; best yearlings, mixed steers and heifers, 11.25; red steers, 8.25a10.50; she stock and stockers and feeders firm; bulls slow; vealers steady at 5.00810.00. Sheep—Receipts, 9,000 head; fairly ac- tive; fat lambs steady; sheep steady; shearing and feeding lambs steady to weak; bulk fat wooled lambs, 15.00 to 15.75; good and choice fat ewes, 950a10.00; good shearing lambs,.15.15. 4 TODAY'S CHICAGO PRICES. CHICAGO, March 6.—Corn took an upward swing in price today during the early dealings and imparted more or less firmness to other grains. Bad weather conditions, likely to curtail shipments_of corn from much of Iowa and Illinois, appeared to be the chief buliish factor. Pit offerings of corn were scarce. After opening at 1% off to a shade advance, May 81% to 81%, the corn market scored moderate general gains. Wheat was influenced by _corn strength and by expectations that a tariff raise would soon be announced. The opening, which ranged from % to % off to % up, May L11% to 111% and July 111%, was followed by a slight sag and then by a new - 16; old ducks, pair, rally. Oais lacked aggressive /support. Starting unchanged to % higher, May 48%, the market receded somewhat. Provisions were firm with hog val- ues. WHEAT— High, Low. 1118 111 l'“fi 1y 112 Close, 111% 11y 112! May . 3 FRANCS 25 TO $1. New Record for All Time Made in New York Today. NEW YORK, March 6.—French france sold In the.local foreign ex- ange market today at 4 .cents ‘ofl;uoe, or 25 to the dollar, & new low record for all time. Continuation of heavy speculative selling for the accounts' of British and French interests caused a break of 8 points from last night's closing quotation. In addition to certain interest pay- * ments, there will mature two issues of Treasury certificates of indebted- ness, amounting to $570,000,000. One issue amounts to about $321,000,000. bearing 41 per cent interest, whil: the other approximates $249,000,000, bearing 4% per cent interest. Banks and corporations have been large subscribers to this government short term paper, and money Students have been emphatic ‘that this heavy bank participation in gov- ernment security offerings has much to do with Kkeeping money rates at higher levels than would otherwise be the case were the government out of the money market. Life Inwurance Sales Gafn. Sales of ordinary life insurance in the United States during January were 15 per cent above the corre- sponding period of last year, accord- ing to figures just published by the life insurance sales research bureau of New York. Sales by companies which had in forGe over 88 per cent of the legal reserve ordinary insur- @nce amounted during January of this year to $538.601,000 of insurance, as compared with $466,880,000 of in- surance in January of last year. Formerly the figures of the bureau Wwere based upon the sales of com- panies having in force abcut 80 per cent of the legal reserve ordinary in- surance, In order to make its report more representative and comprehensive of the insurance situation for the coun- try as a whole, a revision dating back three years hds just been completed by the bureau. This raises the per- centage of the total business from 80 per cent to more than 88 per cent Loeal Trading Very Dull. Today's session on the Washington Stock Ixchange will be listed as one of the dullest of the year. But three sales were made, $1,000 of Washing- ton Gas 58 selling at 95, a like amount of Potomac Electric general and re- funding 7s selling at 107%, and ten shares of Lanston Monotype changed hands at 72. Eugene E. Thompson, president of the exchange, is in New York city on a short business trip. TODAY’S COTTON PRICES. Early Advance Followed by Con- siderable Realizing. NEW YORK, March 6—The cotton market was firm at the opening to- day, with prices 11 to 34 points higher in response to relatively firm Liver- pool cables. _The advance met con- siderable realizing at 25.81 for May and early fluctuations were somewhat irregular, but the tone was steady on reactions of § or 6 points from the high prices. There was some buying of new crop months on reports of un- favorable weather in the eastern belt and continued talk of delayed farm work. NEW ORLEANS, March 6.—Cotton opened 18 to 24 points higher In re- sponse to a much higher Liverpool than due. The market advanced 3 to 12 points additional after the call, the sustaining influence being the gener- ally unfavorable weather shown by the map all over the belt. May soon traded up to 28.83 and July to 27.93, or 37 to 45 points above the.previous close, and then_fluctuated within a narrow range. Bullish sentiment was held in check by news from Wash- ington promising new sensations in the oil probe. SHORT TERM SECURITIES, (Quotations furnished by Redmond & Ce.) Aluminum Co. of Amer. Ts 19 uminum Co. of Au 19: American Cotton Oil 65 19: American Sugar 6s 1937. Awerlcan Tel. & Tel. Anconda Copper G Anglo-Amerlcan 0il 7 6 s fe ind Blas 1924... 1025 . 11 Tel. of Canadiag_Northern Central Leather bs 1 &P Bost Empire Gas & Fuel -7s 1026, Federal Sugar Ref. Gs 1933, Fisher Body Corp. s 1627. Fisher Body Corp. 6s 1028 . 85 1931 158 1926, Copper 7 1630, 7, MeNell & Libby 7a M, 8t. P. & 8. 8. M. 63, Morris & Co. 7%s 1930.- Oregon Short Line 4s 1029, Peuna. R. K. 7s 1530. switt & Co. 5 Tidewater Oll Union Tank 931, 1 1831, s 1o s ar 7s 1930, w Westinghouse E. & M. 7s Wisconsin Edison Co. 6s 1924. Wheeling Steel Corp. 6s 1926. —_— e DIVIDENDS, Pay- Al pr. Apr. Stoek of Company. Pr. 300000 2o o B, BEREE,E, S R Y . RRAAHHBSEN AR, M e e PeR | FRRE RRRRARRAR bl CEEL TR S5555] B5 e 2B b e b b e B b o b .RAW §|LK MORE 'ACTIVE. Special Dispatch to The Star, NEW YORK, March 6.—Trading in the raw silk markets became more active today, both here and in Yoko- hama, and pricea were increaSed from 10 to 15 centa a pound for Japanese grades. XXB was quoted at $7.30, extra at $7.25, best No, 1 at $7.20 and Kansai, 1, at $7.10. XXA 20-23 lenier was quoted at $7.40. Trading n the ‘cotton goods markets was quiet at unchanged prices.