Evening Star Newspaper, March 13, 1924, Page 28

FINANCIAL. MARKET FEATURE: Rally in French Francs Also Helps to Boost Prices in Wall Street. BY STUART P. WEST. Spectal Dispateh to The Sta NEW YORK, March 13—Up to the time the news of the §5 Southern r: way dividend was received the stock marke: was . virtually stationary walting for the announcement. South- ern railway elling at 50% A few minutes afterw: only for a moment, however, 1 then the market was flood vrofit-taking The ereat ma- jority. of the street had looked with ‘onfidence for this §5 payment. But there was a rumor of ence of opinion in the management «nd_many speculators who had paper nrofits, took them heforc the dir ors’ meeting for fear that after the action would bLe disappointing \s it turned out, the decision of the board was unanimous. Ruxh of Orders for Railx. The Southern Railway declaration precipitated a rush of buying in other of the medium and low The stocks those which b recent comment especial ored were ntioned in idend pros- ouri Pacific attention was also p Seaboard Air Line preferred and Texas and Pacific. The unusual activity in Atlanta, Birmingham revived reports that ne after the proper zeneral around the strect that the new interests in question were the Fords The strength of the General Motors group was one of the chief incid of the day. General Motors itself reached the highest in some time on very transactions. Dupont was bid up quite Violently and there was another spec- tacular jump in Fisher Body to con- siderably the highest it has vet sold. New York Dock Wakes Up. Tnterest was revived in the long in- anetive New York Dock stocks. *he last year or more carnin company have been un: but recently there has bee: provement. The Janua very near equalingk that ago; it was $39.100. quirements on the pre ever, amount to $41.600 a that' the 5 per cent pre was not quite covered, ac the January report. The two chief features in the finun- efal news recovery siderable at higher pri and Atlant nteresis wer im- month, so red rate ording to ¥ were a further sharp in_French francs and the declaration for the first time in the thirty years of the road's existence of a dividend on the comn of Southern railway. Although commonly expe payment authorized on 3 common had not i ‘counted. There was & te jump. of 4 points in the self, followed by an active r¥y! of buying il other of the low-friced rails. Operatfons for the rise were renewed in the sugar stocks sid in various members of the motor zroups. Otherwise, the general i ket proved itself to be in too apa- thetin a state to ha stirred by the Bouthern railway episode. TODAY’S COTTON PRICES. New York Market Strong in Early Trading. NEW YORK, March 13 —The market opened firm at an advan of 9 1o 23 points and sold about to 10 points net higher during the | carly trading on covering and fresh buying inspired by unfaverable weather reports from the southwest. According to these advices, it wa snowing in Oklahoma and parts of Texas, with rain in other s i which' threatened further de farm work. There were many grams predicting a late start for the crop. May #old up to 2870 after the overnight selling orders had beewm ab- dorbed, and October advanced to NAVY ESTIMATES CUT. March 13.—Great Brit- i estimates for 1924-25 us en out in a statement today by the first lord of the admiralty, Viscount Chelmsford, amount to f, 00,000, or & reduction of £2,200,000 as compared with the estimates for the present vear. This figure includes the cost cntailed in starting the five new cruisers and two new destroyers, the plans for which were announced in parliament recentl JOHN F. ALVORD EXPIRES. EW YORK, March 13—John F. Alvord, prominent manufacturer, died suddenly at his home today. vord was president of the Wheel Corporation of America the Splitdorff Electric Company. ———— iy RATES ON BAR SILVER. LONDON, March 13.—Bar %3 7-16 pence per ounce. Money, 2% per cent. Discount rates short and three months bills, 3 3-16a3% cent, NEW YORK, March 1 63%; Mexican dollars, 4 ‘WOOL BUYING STILL SLOW. BOSTON, March 13 (Special).—The government expert here today mates that raw wool supplies in this countfy are just about sufficient to supply” one-third of the nation's nor- mal demand. Mills, however, con- tinue-to follow a hand-to-mouth bu: ing policy, and the market is dull unchanged prices. Low washed and scoured wools were the leaders in such buying as developed. 5 Wire and silver, -Bar silver, TURMAN OIL DIVIDEND. NEW YORK, March 13 (Special).— Turmgn Ofl. a subsidiary of Middle Stated Oil, has declared a dividend of 1 perdent monthly for the months of Januafy, February and March, mak- ing 34per cent for the quarter, pay- able ZApril 21 to stock of record N.Y. Stock and Bond Averages. - ‘Wednesday, March 12, STOCKS. Total stock sales, shares. Twenty {pdustrials gveraged 97.81; net loss, .09. High, 1924, 101.24; low, 94.88. Twenty railroads averaged $3.82; net gain, .12. High, 1924, 85.90; low, §2.74. BONDS. Total bond sales (par value), 7,771,000 3 Ten first grade rails averaged 85.61; net gain, .05, Ten secondary rails averaged | $3.75; net loss, .08, Ten public utilities averaged $6.93; net gain, .08. Ten industrials averaged 93.51; net loss, .02. Combined average, 87.43; net gain, .01, Combined average month ago, . 87.89; year ago; 86.79. -, 576,200 Al large | | Cont Can (4). Adv Rumley . . | Aleska Juneau. | Allied Chem (4) ! Am Agri Chem. | Am Agri Che Am Bank N Am BN pt Am Beet Sugar. . {Am Bosch. ... { Am Can 16) . . {AmMC&F ( | AmC&Fpr Am Chain A (2), Am Hide& L pt.. Am s (7)., Am Internatl. .. - { Am LaF F 12 (1) Am Linsced. ... Am Lacomo (6) . Am Radiator (4) Am Republics. . .. {Am Saf R (50¢). Am Ship & Com.. Am Sm & Re (5) Am Snuff (114).. { Am Stl Fdys (2) { Am Sugar. Am Sugar p Am Sumat Tob Am T & Cab (3). Am T & Tel (9). Am Tobac (12) . Am Tob pf (; Am Water Wks. . Am W Wopr (4). Am Woolen (7). Am Wool pt (7). Anaconda. Arn Ce & Co riced rails. | Alas Gold Mine AtT&S Fe (6).. AT&SFpf (5). Atl Birm & At... At Coast L (7) * Atiantic Fruit. .. Atl Fruit ctf: AtGUIf&WI... At Gulf & W1 pf. Atlantic Ref (4). Austin-Nichols. . Bald Loco (7). Hal & Ohlo (5) 1& Ol pt (4) .. & Arpt (7 Parnsdall A ... Batopilas Min Beth Stecl (6) . Beth Stl pf (7) Beth Stl pt (8) Brkiyn U: Brown Shoe (4). Burns Br B (2 Bush Te pf (7) .. But C & Z (500).. + | Butte & Supericr. ame | Caddo Cen O & R Cal Pet (1%).. Cazilahan Z Lead Caulumet & Hecla Can Pacific (10). Carson H Gold. . Cent Leather Co. Cent Lea Co pt. Cent Rib Mills Cer de P’as C (4) Chand Mot (6) .. Ches & Ohio (4) Chicago & Alton. Chic & Alton pf.. Chic & Kast Til & Bast Il pi i Chic Gt West Chic Gt West pf. Ch Mil & St Paul. Ch Mil & St P pt. Chi & Nwn (4).. Chic R 1 & Pac... CRI&Ppf(6). CRI&PDL(T). Chile Cop (2%) . Chino Copper. . ... Cluett, Peab (5). Coca-Cola (1) Colo Fuel & Iron. Col Carbon (4) ... Coi G & E (2.60) Com Solv A (4).. Congoleum (3) .. Consol Cigar Consol Gas (5) .. Consol Textile. .- Cont Motors. Corn PrR (19) Corn Pr R nw wi. Cosden Cu. .. Crucible Stl (4). Cub Am Sug (3). Cuban Cane Sug. ! Cub cane Supt.. Cub Dom Sugar Cub Dom Sug pf.. Cuyame! Fr (4) . Dan'l Boone Mills vaviason Chem De Beers Mires, Del & Hud (£) Del L& W (6) Det Ed Co (8) . Dome Mines (2). Du Ptde N (8) EastK (15%) Eaton Ax (2.601. ElSt Bat (15%) End-Jotn (5) - e Erie 2d pf. . Famous P! (8)... FAM&SPL (7). Fifth Av B (64c) 1 Mr. Al-| i | | | i Fisher Bdy (10) . Fish BO pf (8) .. Fisk Rubber..... Frchm'n (13%). Foundation (6). Freeport-Texas.. Gen AmTC (3). Gen Asphalt. Gen Elec (8) Gen El spe (60c) Gen Mot (1.20) . Gen Mot pt (6) .. Gen Mot db (7) Gen Refr (4) { Gimrdei Bros. . Gisbel Br pf (7) Goldwyn Pict. Goodrich Goodyear pf..... it North pf (5). Gr Nor Ore (3)... Grt Wstn Su (8) | Gt West S pt (7) Gr Canan Cop. Guantan Sugar... Gulf Mo & Nor. ulf M&N pr(4). Gulf St Stl (3) .. Hartman Co (4). Hayes Wh'l (3).. Homestake (6) .. Housen'd Pr (2). Houston Ofl. ... Hud Mot C (3)... Illinois Cent (7). il Cent pt (6) . 111 Cen 1s lin (4) . indiahoma Ref. . Inland'Stl (2%). Inspiration Cop. Interb Rap Tr. Internat Agri.... Int BusMa (8).. Int Cement (4) .. int Com Eng (2) Intern & Gt Nor. Internat Har (5) Int Mer Marine... Int Mer Mar pf... Internat Nickel.. Internat Paper.. Intertype (11%). Invincible Oil. ... Kan City South.. Kayser Jul & Co.. Kelly Spr Tire. ... Kenne Cop (3) Keystc..e T & R.. Kinney G RCo. - Laciede Gas (7). Leh Val (3%) Leh Val right: Lig & My (new). Lig & My B(new) Lig & My pf (7). Lima Loco (4).. Loews Inc (2) ... , Loft,Incorpor. Lorillard (new).. Ludlum Stl (2).. Melntyre (1) Mack Trucks (6) Mack T 2d (7) Macy R H & Co. jorTy T e Open. 9% 1 . 6B% { Allis-Chalm (4). 45% 1% 81% 107 55 4% 84 D aen 165 . 120% 21% 56 93 22 1% 103% 40 67% 7% 101 85% 125% 224 122% 6612 584 90% 16% % 15% 144% 1 3% 62% 85 157% 68% T 485 704 30% b2% 215, 107 116% 105 17% 131 110 22 61% 63 25% 31% 23 69% 44 1% 21z 102% 8% 487 % 9% 43 42% 214 i1 15 83 100 50 51% 1004 10% 28 47 B7% 29% 927 107% 14% 9% 134 53 81% 40 44% 49% 83% 71 29% 101 104% 72 1% 85% 24% 18% 1 4% 43% 25 27% 84% 39 32 16 18% 28 22% 856% 2% 60% 92% 69 31% 51% 651% 17 85% 1% 6% 37% 22% 86% High, % 1 68% 45% 11% 319 107 55 Law. 1 67% 68% Mallinson pf (7). 45 10% 1% 107 144% 1% 12% 33 29 464 59% 72 4% 115 25% 1578 5 1 1% 9 42 41% 214 11 15 83 100 50 51% 100% 10% 23 47 6% 29y 9274 107% 14% 9% 13% 53 8% 490 44% 49% 33% 71 29% 101 104% 72 1% 35% 24% 18% 1 9% 43% 243 27 84% % 30 13 39 32 15 18% 2% Close. 9% 9% 1 45 11% 21% 107 55, 41% 84 116% 166 120% 22 57 03 1% 18 4% 100% 40 6% 13 987% 7Y% 2% 1153 1% 1% 17 17% 126% 22 122% 56%; b8 90%: 16 144% 1% 12% 3 69 12% 215 1024 84 40 4% 10 43% 41% 218% 11 15% 83 100 50 51% 100% 100 23 47 67% 29 9314 107% 14% 9 14% 54 1% 40% 4a% 40% 83% 1% 9% 101 104% 72 1% 35% 24% 18% 1 94% | 43te 24% 27 85% 8 30% 13 40 32 15% 18% 27% 23% 86% 2% 61 93% 69 53% 'THE' EVENING STAR, RAILROAD DIVIDEND [NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Close. 39 ' Open. High. Manhat Shirt (3) 59 39 Mailinson & Co... 23% 23% 86 86% 37% 37% 88% 38% 30% 81 22 22 4T 48 37% I8 16 16 52 563% 3% 14 927 934 17 17 19% 20 18 18% 22% 224 4% 4% 31% 2% 394% 1% 32 124 Low. 39 23 83% 37% 374 30% 22 474 3% 16 52 13% 92% 17 19 17% 224 4% 314 ik 384 11% 814 1% RT3 86% 3% 3% 31 22 48 38 18 52% 143 93 17 20 18% 4% 31% 2% Man FI Sup (4) .. wlan Ele md gtd. Maracaibo Ol. . { Market St Ry pf. | MSRprpf (6). | Marlagd Ofl..... Marlin-Rockwell Maxwell Mot A.. | Maxwell Mot B. i May Dpt St (5) . May Dp S pf (7). Mex Seaboard Mex Seaboard cf. Miami Cop (2). Middie St Ol Midvale Steel. Minn & St Lo MStP&SSM (4). Mis Kan & Tex. . Mis K & Tex pt. Missouri Pacifie. Missouri Pac pf.. Mont Power (4). Monteom Wara Moon Mot (3)... Mother Lode (1) Nat Acme. Nat Biseul Nat C1& S pf (7) Nat Dairy (2) . Nat Lead (), Nat Ry,M 2d pf. Nev Cons Cov. . . NOrTa&M (1) N Y Air Br (4). N ¥ Central (7). N Y - Roade rtn. Ny C&StL pf(6). 0 I s SOERIRNES N ¥ Dack nf (5). NY NH & Hart. fo'k South Norf & W (+8) th Amer ( North Am pf (3) North Pac (5)... OhF Sup (215) . Okla Pr& Ref... Otis Flevat (%) Otis Elev pf (6). Otis Steel. Otis 3teel p| 5 Owens Hot (3).. Pac G & B (8) Tacific Ofl (2).. Packard (1.20) Pan Amer (8) Pan Amer R (8). Penn Rallrd (3) Penn Seab Steel. Peop Gas Ch (1) Peoria & East § ere Marq (4) . s Pere Mprpf (3). Thita & R & T wi. Ph-Jones pf (7). Thil Mor (50¢).. Phitlips Pet (2. Ph'nix H pf (7) Pierce-Arrow. Picrce-Arrow pt. Pierce Ofl.. Pierce Oil pf Pitte Coal (4) Pitts Util pf Pitts & West Va. Pitts St pf (7). Postum Cer (4). Prod & Refiners. Put Ser NJ (4).. Pullman Co (8).. Punta Al Su (5). Pure O (1%)... Pure Oilpf (7) | Ray Cons Cop | Reading (4) Reading rts. .. Read 2d pf (2). Rep It & Steel. .. Rep I &S pf (7). Reynoids Spr (2) Rey Tpb B (3).. Roy D'tch (3.46) St Jos Lead (12) St L San Fran St L-San Frpf.. St L Sothwest St L S'th pt (3). Santa Cecilia. Schulte (§8).. Seaboard Alr L. Seab'd Air Lpt.. 1% 82 124 28 62 26% 2% 4% 19% 14 23% 45 53 32% 2 153 102 11 1% 4% 4% 104 5 90 Sears Roe pf (7). Seneca Copper. ! Shattuck-Ariz. Shell Un 01l (1). Simmons Co (1) Simms Pet. .... Sinc Con Ofl (2). Sin Con O pf (8). Kelly Ol ... Sloss-Sheff (6).. So P Rico Su (6) South Pag Southern Ry (: South Ry pt (5). Spicer Mfg. . StOfl Cal (2). StOfTNJ (1). St Ol NI pf (7). Stew't War (10) StrCar (19%) ... Studebalker (10). Submarine Boat. Superior Ofl..... Sweets Co of Am. Tenn C & Ch. Texar Co (3). Tex Gulf S(634). Texas & Pacific. . Tex & PacC& O ‘Tide Wat Ofl (4) Timken (3%) { Tob Prod (8)... { Tob Prod A (7). Transcont Oll Underwood (3). Un Bag Pa (6). Un Pacific (1) Un T Carpf (7). Utd Alloy Sti (3). United Drug (6) Utd Dyewood. . Utd Fruit (10) Utd Ry Invest. Utd Ry Invest USCIP(2). 0 S Ind Alcohol. U 5 134% 22% 84 245 62 954 USR&Im (8).. SR&IDL(7).. U S Rubber. . US R 1st pt (8) U 8 Steel (15%). U S Steel pf (7) .. j Utah Copper (4) Utah Securitles. Vanadium Corp.. Va-Caro Chem... Va-Caro Ch pf. V Vivaudon (2) 43% 17% 16% 20% 62 108% 6214 1% 78% 8% 18 26 58 3 15 144 12% 11% 85 8456 332% 329% 29% 29 1% 11 Web & Hellb ( Western Paclfic. West Penn pf (T) West Pac pf (6). West Un Tel (7). West E& M (4). West E & M1 WE st of (). Wheel & L Erfe. Wheel & L Er pt.. Wh Eag Ol (2).. ‘White Mot (4)... Wickwire Sp Stl.. Wilson & Co. Willys-Over! . Willys-Over pf.... ‘Woolworth (8) .. ‘Worthing Pump. Wright Aero (1). WrigWJr (3)... 874 87% 87 | Youngst S&T (5) 66% 66% 66% | tPartly extrs. §Payable in preferred stock. Dividend .rates’ as given in above table are the annual cash payments based on_ the Iatest quarterly or hailf-yearly declarations. therwise BT Sk, = - High. Low. Last. Call Money..... 4 4 ¢ HOURLY SALES OF STOCKS. 11am. 161 800 1p.m..... 443 200 12m...... 345 500 2p.m, 538 900 330 29% 11% 87% 68% PARIS BOURSE HEAVY. PARIS, Maech 13—Trading was heavey on the bourse today. Three per cent rentes 57 francs §5 centimes. Exchange on London, 98 francs 25 centimes. ¢ Five per cent loan, 69 francs 82 centimes. The dollar was quoted at 22 francs 74 centimes, X . 38% | ties was favorably affected by the an- 119% | gencral mortgaze | 214 | selves incurring any ereat ris 4% ! ommicial 5% | aware and experienced hourse 18% | ators bellev 234 | burned before IN'FRENCH BONDS Southern Railway and Sea- board Air Line Issues Up. Wilson Liens Drop. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 13.—A sharp rally in French bonds was the feature f today's market. Sentiment toward French securi- noundement of the credit ed on this side for the use of the Bank of France. This credit had to do primarily with supporting franc exchange, but there was a sympa- thetic response in French dollar bonds. The prices attained on the rally were for the most part below the highs of ten days ago. All that it seemed to show was that holders of French bonds had been reassured as to French finances. There was very little reflection of the movement in other foreign bonds. Southern Ronds Improve. In the general bond market the ac- tion of the directors of the Southern | Railway in declaring a 5 per cent dividend on the common stock wax foliowed n improvement in Southern Railw bonds, principally the various issues secured under the This was not en- tirely logical as the position of the 1dholders was in no way strengti- ened by the paying of dividends on the stock. Sp lative moderately strong. Air Line adjustments ran up to and then reacted and there was consider: able activity in the consolidated Gs. New Orleans, Texas and Mexico 08 were higher. The movement did not go far, however. Wilxon Lieas Tumble. Among industrials, Wilson & Co. bonds were all active, with especial weakness among the convertible 6s of 1923, At one time today they were down miore than four points from the previous closing price. = In sugar securities Punta Alegre s went up 2 point znd a halt with the stock. CUnited States government loans and high-grade rails and industrials were little changed Opinion in French financial circles today was that France had won a financial battla of the Marne, but that the war on the franc was prob- ably not over. There was great relief danger of a panic had been averted with th ip of the big banking credit ¢ shed in New York. Andre in’ the’ Echo tional, pledge security. establish- railroad honds Seaboard were that the to yd e s France was obliged 75,000,000 franes in old I avers that the negoti: tions are still going on as this metal be kept in shipped to London and The encrally to the . n and British friends of Fra for the ald which stemmed the tide. Public Confidence Rewtored. The general public showed its re- turning confidence by choking the bunks today with small orders to sell sterling. The restored public confidence in the opinion of leading bankers is the best result of the intervention in the market which the Morgan loan made possible. The raiders on the franc, who, in the belief of the oxperts of the bank of France have a deeper object than merely making a day-to-day profit, have been cover- ing themselves progressively on sir short sales. and their opera- ave been so ingeniously man aged as to get the general publi following them without.they them- The sharp reaction caused by the | intervention in the market,| howdver, tock the manipulators un- | oper- were be with- | fingers couid many they darawr. | e o DAYLIGHT SAVING ' STARTS ON APRIL 27 Special Dispateh to The Star. NEW YORK, March 13.—Daylight saving will go into effect here Sunday, April 27, unless the present ordi nance is repealed. The Letter Car-| riers' Union has petitioned the board of aldermen asking repeal because of the “unnatural hour” it compels them to go to work. —_— SHEETINGS MARKED UP. NEW YORK, March 13.—An upward revision of selling prices for wide sheetings, shects and pillowcases yes- terday was looked upon by buyers as completing changes foreshadowed when cotton, print cloths and other gray goods began to decline. Low prices have been attractive to buyers and an improved retail trade, it was believed, would bring about a general quickening of the market. g FOREIGN EXCHANG (Quetations furnished by W. B. Hibbs & Co.) Nominal Seling cnecks, £old value. today. { Lordon, ! und Montrear, " dolla H “oo03n” ‘o201 1 thow'd. | I By the Associated Press. NEW YORK, March 13.—Foreign ex- changes irregular. uotations (in United States doliars): Great Britain, de- mand, 4.29% ;' cables, 4.29% ; sixty-day bills on banks, 4.27%. France, .0439% ; cables, .0440%. Italy, cables, -.0428%. _Belgium, .0357% ; cables, .0358%. Germany (per trillion), .22. Holland, .3722. Norway, .1348. “Sweden, .2630. = Denmark, .1561. Switzerland, .1731. Spain, .1281. Greece, 0154, Poland, .00000012. Czecho- slovnlkm.oo.gga). Aunr!:. Oflgg_}g BRuv mania, . . Argentina, .3375. Bra- 2, 1190, Toklo, 42. Montreal, .96 15-33. RAW SILK AT NEW LOW. ‘Weakness in Japanese Yen Causes Drop in New York. NEW YORK, March 13.—Weakness of the Japanese yen in the foreign ex- change market was chiefly responsible today for a new low for raw silk of the first grade, which was quoted at 4.75 to 6.85, off 25 cents a pound from yesterday’s price. The New York mar- ket also lacked confidence on reports from Japan indicating a weak demand. CLOTH TRADING LIGHT. NEW YORK, March 13.—Trading in the cotton goods markets continued ! light today, but with prices about un- | changed. Print cloths were quoted at | 3 cents for 64x60s and 11 cents for 6sr72s. The raw silk markets ex- perienced onc of the sharpest drops in weeks, brought about largely by the decline in_yen exchange. XXB dropped from $7.10 to $6.80 and all the other grades were down from 15 to 30 cents, { Danish Munic 8s B | Duquesne Light 6s | Est Cuba Sug 7%s. | Sin Pipe Line 5s. .. |ONNE K W YOR Received by (Sales are in $1.000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 98-3 means 96 3-32.) Bales. High. Low, Close. Lib3%s... 17 9828 98-25 98e25 Lib1st4%s... 23 99 98-30 99 Lib2d4is... 237 93-2 98-27 99-2 Lib3d 4%s... 658 100 99-30 99-31 Lib4th4%s.. 489 99-2 98-30 99-1 US4%s1952. 511002 100 100 FOREIGN. Sales. High. 28 101% 29 89% 18 100% 16 984 27 100% 2 110% 7 87% 12 76% 5 9% 16 93% 2 100 3 101 2 100 17 10 4 Close. 101% £9Y% Low. 101% 89 100% 98% 99% 110 875 6% 9% 93 99%h 100% 99% 995, 103% 104 95% 42 88 9N% 95% 106% 107% 94% 88% 93% 93 89 87 97 Argentine 7s. Austria 7s. Belgivm 7% Belgium 6a Belgium 8s. Bern 8s Bolivia 8s. Bordeaux 6s Brazil 7s.. Brazil 2s. . Canada 65 1926. Canada 515 192 Canada 5s 1931. Canada 58 1952. ... Chile 85 1946 Chile 82 1941 Chile 75 1943 Chinese Gov Ry 58 Copenhagen 5%s Cuba 5%s. Czechoslovakia 98Y% 99% 110% 8T% 6% 9% 93% 100 101 100 99% 103% 104% 95% 42 88 N% 6 106% 107% 4% 88W 3% 93 89 99% 103% 104% 95% 42 Denmark § Denmark 6 Dutch E15%s Dutch Eas. 1 6s'47. Dutch East 165'62. Finland s f 63 1945 Framerican 7%s.. 10 French Govt §s.... 196 French Govt 7%s. 131 Haiti 6s...... 7 Ttaly 6345 1926.... 18 Japanese 1st 41, Japanese 4s. 1 Japanese 6%s w 1. 111 Lyon 6s. 14 farseille 68 13 Mexico Gs. ... 3 fontevideo 7s.... 4 Netherlands 6s.... 16 Norway 8s. . 2 Norway 6s 1943... 10 Norway 6s1982... 9 Orient Dev deb 11 28 97 4% 88T 99t 97 T8% 92% 6% 764 48% 85% 92t 111% 9215 924 8T% 0% 85%% 100% 94% o1% 96% 29 81 4% 102 61% 107 9915 102% 1lvke Prague 7%s... Queensland 6s. ... Rio de Jan §s 1946. Rio de Jan 85 1947, Pis Gr Do Sul $s.. Sao Paulo State 8s. 8 Seine Dept of 7s... 33 Serbs Crotes Slo 88 26 weden 65 Tokio 5 = Ud Kingm 5%s'29 12 Ud Kingm 5%s '37 196 Uruguay Ss. Zurich ss. 1 102% 110% MISCELLANEOUS, Ajax Rubber 8s.... 3 91% Am Agr Chem 7%s 87 95 AmChainsf 633, 6 94 Am Cotton Ol 55.. 3 874 Am Smit&R1st5s. 8 922 Am SmIt&R 6s. S 102% Am Sug ref 6s 19 101% 3 122% 19 98 934 100 a0 404 98te 9 847 90% 9% 98 9815 98 90% 90 99 94% 9%% 109 100 26 9344 91% 95 93% 87 924 ¢ 102% 101% 12215 9% 93% 100 86% 404 97% 95% 84% 90% 7% 98 981 9% 943y 93% AmT&Tcltris AmT&Tcltrids Am T & Tdeb ii%s Am Water Wks is Am Writ Paper 6s. Anaconda ev db 1s Anaconda 1st 63 Armour & Co 4%, Armour of Del 53¢ Assoclated Ol 6 Atlantic Refin Gs. Barnsdalls f §s. Bell Tel Pa 5s. Beth Steel 5%3'53. Beth Steel pm 5s.. Beth Steel s f 6s... Brier H St 15t 5%s Bush T Bldg 65 '60. Bklyn Edison 7s D Bklyn Ed gen 5s. Calif Pete 61s. Central Leather 53 Chile Copper 6s. ... Commonwth P 6s Cuban-Am Sug Ss. Cuba Cane cv d 8s. Cuba Cane cv 75 ‘30 Dery (DG) 7s Det Edison ref 6s. Donner Steel Ts Du Pontde N 7 0 Rromeot Y 0alkelalid ~abehmumursolloosanion Empire G&F 7%s. Fisk Rubber 8s Gen Elec deb 5s Goodrich 6s. Goodyear 8 193 Goodyear s 1941 Hershey 6s 1942 Humble O&R § Illinois Bell 1st 5s. Indiana Steel 5s. .. Int Mer Marine 6s. Inter Paper 55 "47. KCP &Lt GsAb2. | Kelly-Spring 8s. Liggety & Myrs 7 Liggett & Myrs 8. Magma Cop ¢V 78 Manati Sug sf 7%s Marland Oil 8s '31. Midvale Steel 5: Montana Power New Eng Tel 58... N Y Eusn 1st 63%s. NYG EL B&P bs... N Y Tel 65’41, N Y Tel6s'49. NYTel4%s..... N Am Ed!son 6s. Nor States Pow bi Northwst B Tel 7 Pacific Gas & El 5a Pac Tel & Tel 5s. .. Phil & Rdg C&I 5s. Phila Co 6%s'38... Phila Coref s A. Plerce-Arrow 8s. Pierce Ofl deb 8s. Public Service 5s. Pub Ser Elec s wi. Punta Alegre 7s. Saks & Cosf 78 Sharon Stl H 8s. Sinclair Oil 7s. Sinclair Oil 6%s. Sin Crude Ofl 5%s. Sin Crude Oil 6s. 984, 100% 9844 105 106% 93% 2% 91 1075 921 91% 92% 91 1021 8% 99ia 874% 98 18 103 100 91% 85% 98 7% 834 95% 103 93% 95% 107% 113% 83 103% 102% 88 95 66% 34 103 110% 107% 64% % 87 8% 956% South Bell Tel 53 So Por Rico Sug 7s. Southwest Bell 5s. Toledo Edn 1st 78 Unit Drug cv 8s. U S Rub 1st rf 68. U S Rubber 7%s... USSteelsfbs Va-Car Chem 75... 44 Va-CarCh7%sw. 9 Warner Sugar 7s.. 1 West Union 6% Westinghouse 7s. Wickwire Spen ‘Wilson & Co 1st 6s 79 Wilson&C cv 1%s. 63 Wilson & Co cv 6s.178 Yourigstn 8 & T 6s. 20 N. & W. TO CONSIDER LEASE. PHILADELPHIA, March 13.—Re- ports that the Pennsylvania railroad contemplated leasing the Norfolk and ‘Western railroad took definite form vesterday when the Norfolk and Western announced that it had re- celved a communication from the Pennsylvanla suggesting the advisa- Dbility of such a step. A committee was authorized to confer with a sim- ilar committee of tho Pennsylvania. e K LIVERPOOL COTTON. LIVERPOOL, March 13.—Cotton, spot, fait demand, prices easier. Good middling, 17.46; fully middling, 17.01, middling, 16,56; low middling, 15.71; good ordinary, 14.71; ordinary, 14.21 Sales, 12,000 bales, including 5,000 American. Receipts, 4,000 bales, no American. _Futures closed steady. March, 16.83; May, 16.74; July, 16.41; September, 15.27: October, 14.81; De- 86 5% 100% ¢ 871 | Sales. 7 3 28 1 5 23 4 15 4 157 3 12 3 Atchison gen 4s Atchison adj B&Ooprin3%s. B & O gold 4 B&O6s.. B&Ocv 4%s. B & Oref 5s. B &0 PLE&W B &0 SW div 33 Bklyn-Manhat 6s Buff REPitt 4%s. . Canad North 6%s. Canad Pac deb 4s.. CarClinch & 0 6s. 1 jCentofGaés...... 3 Cenral Pacific 45. 13 Ches & Ohic cv 5s. 12 |Ches&Ocvays.. 6 Ches & O gn 43%4s.. 50 Chi & Alton 3s. 9 Chi & Alton 3%s.. 11 ChiB&Qgn4s'58. 1 Chi B&Q 1st rf 5s.. 22 Chi & E111 gn §s. Chi Great West 4s./ ChiM& St Prf 434 ChiM&StPcvbs. 7 Chi M & St P 45 °25. 66 Chi M&S Pcv4ts. 8 ChiM &St P 6s wi. 16 Chi& NW 7s. Chi Rys 68 Chi R1& . ChIRI& Pacrf 43 Ch1TH & SE & Chi-Un Sta 415, Chi & W Ind cn 4s. CCCAStL T 68 A. Cleve Term bs. Cleve Term 53%5. Colo & Sou 4%s Cuba R R6s.. Del & Hd 1st rf 4s. Den & Rio G cn 4s. 21 D&RGstrf5s Det United 43%s. Erie 18t cor: 45. Eri» con ext 7s. Erie gen 4s.. jErie conv4sA. Erie conv 4s B. Erle conv4sD.... Gr Trunk sf db 6s. Grand Trunk 7s. Gr North gen 7s. Gr North gens 8. . Havana ERL&P 58 Hud & Man ret 5s. {Hud & Man a 5s.. 11l Central ref 4s. . 11l Cent ref 5s '55.. 111 Central 63%s Int Rap iran Gs. {Int Rap Tr 6s stpd. Int Rap Trans 6s.. Int Rap Tran 7s Int & G Nor aj 63 Int & G Nor 15t 6 Kan City Ft S 4s... Kansas City S 3s Kansas City S 5s. . Kan City Term 4s. Lake Shore 4528, Lake Shore 4s'31.. Lehigh Valley 63 Long Island rf 4s.. Louls & N uni 4s... Louls & Nash 7s... Louis & Nash 5155, Loufs & N 55 2003.. {Manhat Ry cn 4s {Market St en 5 | Mil E1 Ry & L 5: ! M StP & SSM bizs. | M StP & SSM cn 4s. MK&TIlstds..... prinGs TP T | Sawanetie e BrumtronBon 9 PR TR atelarenmw | Mo Pacific 6s...... 2 i Mo Pacific gn 4s. { Montrl Tm 1st 5. NOTex &M in Gs. 133 N ¥ Cen deb 6s. NYCenrids N Y Cent cn 45 '38. NYCenLScl 3%s. New Havencd 6s. New Haven 7s. New Haven 7s fr INYRyrfdsctes. .. NY W & Bos 4%s. Norfolk & W cn 4s. Norfolk & W cv 63 Northern Pac 3s. | Northern Pac 4 i Northrn Pacr i 6s. Ore & Calif 15t 5s. Ore-Short Liref 4s. Ore-Wash Istrt 4s { Pennsyl gen 5 Pennsyl 6%s. | Pennsyl gold 7s. {Pere Marq 1st & Reading gen 48.... Reading gn 4 %swi | Rio G West cl 4s TRIATk & L43s... St LIM&S R&G 4s. StL&SFplisA.. Scab’d AL4s Seabd A Lids sta. Seab’d A Liref s Seab'd A L.ad] 5. Seab'd A L con 6. Sou Pacific 4s 1929, Sou Pacific ref 4s.. Sou Pacificclt 4s.. 25 Southern Ry 1st§s 6 Southern Ry gn 4s.125 Southern Ry 6%s.. 25 Southern Ry 68 ct. 132 Third Averefds... 2 Third Avead) 5s... & |TolStL& W 4s... “ 4 Unlon Fac1st4s... 7 Union Paclstrfis 3 Union Pacificev 65 1 Union Paclstrtés 7 Virginia Ry 1st 6s. 1 Va Ry & P 1st 5s. 2 Wabash 1st 5s. Western Md 4s Western Pacifi West Shore 1st 4s. Wheel & L E cn 4s. 2 1 1 p.m..6 007000 48 June 18, 1924 §148 ptember 15, ember 15, 4i4s December 15, 1921 4%s March 15, 1925... 4148 June 15, '1925. 4%s December 15. ' 1925. 4%s March 15, 1926.. ... 4is September 10, '1926. 4%s March 13, 1921 %48 December ' 15, RAILROADS. High. A6l 80 98 83l 101% 86% 85% 80% 7% 74% HS’ 111% 79% 97% 101% 85% 92% 90% 854 59% 40% 85% 97 76% blls 52 567 T8% 56% 97% 105% 7% 79% 6% 9% 90 T4% 101% 97% 103% 84 83 854 69 3% 87% 64 106 54% 57 57 64% 103% 111% 07% 98 82'% 81% 6145 85 100% 101% 62 62 63 86% 50% 93 76 93% 85% 821 9% 70% 103t 984 54 45% kid 891y 8314 103 00% 93% 89% 9% 61 838, 80% 644 100 100 13-82 1 00! 100 , WASHINGTON, D. C, THURSDAY; MARCH 13, 19%4.. SHARP ADVANCE Low. 86% 80 97% 83% 101% 85% 85% 80 7% T4% 88 m 9% 974 101 5% 9% 89% 86% 59% 40% 85t 97% 6% 51% 52 55% 8% 56% 974 105% 77 79% 76 9% 90 74% 101% 97% 103% 83% 8 85% 68% 374 87% 64 106 54% 56% 56% 641 103% 111% 107 97% 824 103 98 b4 45 7 89 R34 103 100% 93% 89% 974 60% 83% 80 64% TOTAL SALES (Par Value): 1.am..3353000 12ncon 4937000 2 p.m. BONDS o e | Private Wire Direct to The Stsr Office. Close. 86% 80 98% +3% 101% 85% 86% 80 7% 4% 88 111 79% 97% 101% 85% 92% 90% 85% 59% 40% 854% 8Tk 76% 3% 87% 64 105 b4 56% 56% 64% 103% 111% 107% 97% 821 81% 61% 85 100% 101% 61% €2 63 £6% 50% | stri 86Y% 119% 567 80% 102 99% 93% 80% 99% 108% 108 93% 89% 881 63 76% 1% 681 821 6374 91y Tl 9974 81% 96 5% 66 643, 525 51% T6% “3% 85% 82% 96% T0% 10314 98% 54 45% 7 89% 83% 103 100% 93% 89% 97% 603 83% 80 64% 7081000 U. 8. TREASURY CERTIFICATES (Quotations furnished by Redmond & Co.) ~——nNooa.. Bid. Offer. 1003 100 1 % 5 100 16100 5-16 .32 100 21-32 1009 10 100 1 oot 16 100716 SHORT TERM SECURITIES, " (Quetations furnished by Redmond & Co.) ~——Nooo.— - Aluminum Co: of Amer. 78 ‘American Sugar Us 1937. Ansconda Copper 8s 1929. Baito, & Ohio Gs 1824 Central Leather Sa LS Fisher Body Eisher Body Great Northern 75 1986, Gulf 0il Corp of Pa. 5 Humble Oil 5%s 1832, Kennecott r 78 1830, Libby, McNeil & Libby 7s M., Bt P &S B M. 64s 'Ifin’hh Co. Tlas 1930. . Short Line 4s 1929 Penza. R. R. 7s 1980 Bwitt & Co. Gs 1032, Tidewater Ol 6%s 1831 Unlon Tank Car 7s 1960, U. S, Rubber 7%4s 1930. West Penn Power 8¢ 1934 ‘Western Union_6i4s 1633, American Cotton Oil 6s 1924, American Tel. & Tel. 65 1925 Anlo-American Oil T3%s 1925 Bell Tel, of Cauada 5s 1935, Canadian Northern 5iss 1924 1981, 1831, Bid. Aluminum Co. of Amer. Ts 1925. 10215 1081; 100 103: 1008 m.'g 97 92 Ofter. FINANCIAL. 'Grain, Produce and Live Stock LOCAL WHOLESALE MARKET. Eggs—Strictly fresh, selected, can- dled, per dozen, 27; average receipts, 25. Live poultry—Roosters, per 1b., 17; turkeys, per Ib.. 32a38; spring chick- ens, per lb., 35a38; keats, young, each, 60a70; fowls, per 1b., 26. Dressed poultry—Fresh-killed spring chickens, per Ib. | ea per 1b. Live tock—Calves, c 13; medium, per Ib,, '10all: thin, b, 6a8. Lambs, spring, per I Live pigs, 3.00a5.00 each; live per 1b., 8. Green ' fruits—Apples, 50a2.00; box, 1.50a3.00; per barrel, 2.0 a5.50. California oranges, per crate, 3.50a5.00. Florida, 3.00a3.50. Lemons, per box, 3.50a4.50. Grapefruit, 3.10a 4.25. Cranberries, 4.00a4.50 per ones half barrel. Vegetables—Potatoes, | barrel, No. 1, 2.50a3.00; No. 2.00. ~ Potatoes, round, per bag, 2.65a 5; sweet potatoes, 5.00a7.00 per barrel. = Southern lettuce, per crate, 2.50a4.00. ~Iceberg. 3.00a3.50. Cabbage, northern, 3.50a4.00 per 100 1bs.; Flo ida, 2.2522.50 basket: nearby, 1.00a1.50 a, 3.00a5.00. 1.002600. per baske nenrb,Y. per 1.50a Tomatoes, Flori Beans, Florida, per sa Peas. 'per basket, 4.00a5. Celery Hlorida, 3.00a3.50." Squash, 4.0026.00. Peppers, per crate, Florida, 6.00a7.00. geplant, 2.00a4.00. Kale, per barre 00a2.50, * Spinach, per barrel, 3.50 ad.00. Texas, basket, Texas beets, 00; o 2.50. Southern cucumbers, per bushel, 5.00a8.00. Carrots, 100-1b. sack. 3.25a 3.50. Brussels sprouts, . Florida iima beans, 2.50a4.00. GRAIN AND PROVIS DALTIMORE, March 13 (Special Potatoes, white, 100 pounds, 90a2.00; 150-pound sack, 1.40a3.00 yams, bbl, 2. i Beans, bu.. 2.5024.00. Beet: 6.00. Brocolli and kale, Cabbage, 100, 1.00a6.00. 40a60. Carrots, 4.00a8. flower, crate, C 2.50a3.00. 11.00, Lettuce, plants, per 40a50. avoy, bu., Cauli- crate, 002 bu., umber: Eggplants, crat hamper, 1. 100, 6.00a8.00. Peas, hamper, . 1.5024.00. 2 Tomatoes, crate, 1.50a quash, crate, 4.00a3.00. Turnips, 5240, s, packed, bbl .00; hox apples, fruit, box, 1.50a2 2.25a3.00. i ¢ 4.00. Strawberries, qt.. 40a60. Selling Prices on Grain. Wheat—No. 2 red winter. spot, 1.10%; No. 3 red winter, garlicky, spot, 'domestic, 1.11%: exports, no quotations; No.'4 red winter, garlicky, {#pot. no guotations. ies—None. Corn—Cob, new, 4.30a4.40 pwr barrel for vellow, and 4.15a4.20 per barr for white; No. corn, spot, $93% No. 3 corn, track corn, Yellow. No. 3, Bag lot of nex lat sy, Oats—No. 2%hite, 57 new, 56a56%;. | fi¥e—Nearby, 70a50; No. 2.0025.00; bu., No. 2 white, 2 rye, spot, Hay—Receipts, 73 tons. The market for xood timothy, light clover mixed and rictly No. 1 clover is steady to firm, with & good demand for such stocks und the supply not burdensome. Medium and low grade hay is in draggy and of uncert: tions: No. 1 timothy, No. 2, 27.50228.00; > 1" Jight clover mix . 2 clover, 24.00a25.00; No. 1 clover mixed, 25.50a26.00; No. 1 clover, 26.00 a27.00. Straw—No. straight rye, 24.00a 25.00 per ton; No. 1 tangled rye, 18,00 a20.00; No. 1 wheat, 18.00a18.50; No, 1 oat, 17.00a18.00. CHICAGO LIVE STOCK MARKET. CHICAGO, March 13 (United States Department of Agrioulture). Receipts, 34,000 head: ve steady to strong; good and 240 to 325 pound butct 5 top, better grade poun; verages, 7.40a; 130 to 175 pound we! packing sows, 6.35a6.60 { steady; desirable strong weight ig packers inactive; talking 9,000 head; 0 to 15 highe beef matured steer. 1505 pounds i other long s, including some heifers, handyweight, choice steer. 50; ‘bulk fed steers, 8.00a 9. tockers and feeders stead: fairly broad demand for fat she stoc canners, cutters and bulls; latter clas heavy bolognas, 5.10 and vcalers mostly 50 lower: pack- ers taking bulk desirable 100 to 110 pound calves at 9.00a8 medium lights downward to nd b shippers selecting 140 1o and aboy | few to strong: fat sheep steady to 25 higher; feeding and shearing lambs Steady; bulk fat wooled lambs, 15.0 3 : one load to shippers, oice @dipped lambs, 13.50al wooled ewes, upward to 19, ped ewes, 8.50a9.00; clipped 9.50; shearing lambs, 15.50a15. DAIRY PRODUCTS. BALTIMORE, March 13 (Special).—Live poultry—Turkeys, “pound, young chickens, 23a38; leghorn roosters, 16; old hens. 22a25; leghorns, 21a. duck 23a3! geese, 18a2: Pigeons, pair, 40a45; guineafowl, each, 130260. Dressed poultry—Turke: 25a42; chickens, 20a34; duc old roosters, 16al7; geese, 20 pons, 32a40. Eggs (loss off)—Native and nearby, firsts, dozen. 25; southern, 24. pound, a32; ca- pound, creamer: 30a32; prints, 30a32; process , 29a30 Li butter, 38a3! TODAY'S CHICAGO PRICES. |, CHICAGO, March 13.—Decided fresh breaks in the price of wheat took iplace today during the early dealings, {with fluctuations very rapid. Heavy selling orders through commissic {nouses outweighed all other factors. {Apparently much of the selling was of a liquidating character on the part of holders who had given up belief in prospects of an advance in_pric The opening, which ranged from % |to 3% lower. May 106% to 1061 and July 1063 to 107, was followed by an |irregular downward swing that in {somo cases went 1% under yester- day’s finish. Corn and oats dropped with wheat, but corn found vigorous support, which, at around 79 for May, led to something of a rally. After opening at'a shade to i off, May 79% to 80, corn_suffered an all-around setback of about 1 before the market began to_recover. j Oats_started unchanged to i off, May 45% to 46, and later showed a {moderate general loss. Provisions were casier owing to weakness of grain and hogs. WHEAT— Open. Low. . L8y 1.06% Lons, 1.06% 8% T8 797 Close. 1.06 10.35 211075 NEW YORK DAIRY PRICES. NEW YORK, March 13.—Butter weak; receipts, 8,022; creamery, higher than extras, 48%ad9%; creamery, extras (92 'score), 48%; firsts (83 'to 91 score), 46%4ad7% Eges, steady: receipts, 17,312 fresh gathered, extra firsts, 26%a27; firsts, 256%a26. Refrigerator, unquoted. Cheese _steady; 239,237 pounds. _State, *whole flats, fresb, fancy, 2113a22%. receipts. miik, place 5 old 1 AMERIGAN SECURITY -~ STOCK IS ACTIVE Feature of Trading Today on Local Board—Southern Dividend Pleasing. Strength and activity in shares of the American Security and Trust Company proved the outstanding f ture of local trading today. This i sue sold to the extent of forty shares, with a net advance of 1% points, closing at 304, the day’s high. Washington Railway and Klectric preferred shares were active and fairly ecasy, selling at 73% and 73% while Lanston brought Riggs National Bank 296. Capital Traction s were unchanged at 96% and $1,000 District of Colum- bia Paper 6s sold at 8. Potomac Electric consolidated 58 changed hands at 87 and Railway 4s were off to 71%. Southern’s Action Gratifying. A question that has perhaps heen the subject of more speculation in |rcccn( weeks than any other singlo topic of discussion in Wall street was definitely settled this morning when directors of the Southern railway initiated a quarter!y dividend ra 1% per cent on the common That these shares would tuke among the divid ses was a generally a f, but Leyond this the prospe of the directors wa the s of widespread difference nion. the is lie quarter came assertions that dividends would be inaugurated at the rate of $4.00 per vear, while from other'centers were to be he equally positive assur: that t company would injtiate a 5 per ce rate. In the last few days adnerents of the latter rate were in the major- which served to stimulate the nt_ with the resul of the directors’ mee s advanced to it advanced to ¥'s carly trading. Redmond Methods Exposed. The Wall Street Journal toda bares, in 2 Boston dispatch, the meth lod of procedure used by the recently declared bankrupt firm of G. F. Red mond & Co., which maintained a loc office. Lriefly a_cust chase pi listed, th per cent with intere balances. assured big p of doing busines: pitfalls to the uninitiated. nbers of no exchange, the led to pay full com Lrokers who executed isted securities. 'A asiness was 160 sveral reputabls <. They were us_quotati 3 wi ¢ , the plan was to accept fro T 20 per cent of the pur- sec <, listed or u istomer then to pay month on the princip: 1 at 6 per cent on unpaid "he mises of the firn phone The growth of knew no bounds. Its rules with its customers were hard and fast. A de- iinquent customer was allowed on five days' grace on his monthly pa: ments; if h per cent was not forth- coming within that time, his account became a mar; one. ' Nine times out of ten h sold out,” and frequently account showed w “joss"—but G. F. Redmond & Co. was rot the loser. Biggest Play Made in 1920. ng drast 0 the firm n The drastic the firm's | liqu theor oun dollars “How the re- ally wip ith the house. re lost to the ny millions the firm ‘eiyers may learn. | Knowing that their solvency pended at 211 times ox to deliver stocks or cas @ customers, F. Redmond & nt when cus lied for fun different witl -d WY the firm's ceount. nge houso ore it w: vered. On court acti G. tomers pe other houses direc Customers to take up the One Boston Stock Exch: waited for thre. able to get an account on_ threat of immediat ) did . F. Redmond & Co. give up. But they always took carc of cus- tomers who appealed in person. The firm smen were continu- ously instructed to p the cus tomers trading. Dow't lot them ac {cumulate eredit halances. 1f a stock | show the customer jinto something else. Not being exchange members, they laid no stress on commission profits on listed stocks and only stocks nec- essary for delivery or exhibit were carried an hand. A new account would be opened and the 20 per cent margin paid down. The customer's buy order was eventually bulanced with a sell order in the name of 4 dummy or a number account. The firm was usually not long of stocks; and the customer was paying b per cent cash into the firm ach month, plus 6 per cent interest. {But the cash was zoing into_the till jof G. F. Redmond & Co. When & slump occurred in the market, the customer if delinquent on his pay- ments would be wiped out—on the If he kept up his payments, he @vised to switeh into something Subscription Books Closed. Treasury subscription books for the current offering of $400,000,000 of 4 per cent certificates, dated March 15, . and maturing in onc year. closed t the close of business March 11, it was announced last night. No further subscriptions received. Debate Judges Named. Howard Mora i president the Amer Company; torney, professor at Georgeto will constitute the judicial committ st the debate tomorrow night be- {ween teams of the Washington and Baltimore chapters, American In- stitute of Banking. LABOR IN LI\;ELY D.EMAND Revival of Business Activity Ex- pected in Baltimore. Bpecial Dispatch to The Star. BALTIMORE, March 13.—Demand for skilled labor here shows an in- crease about 400 per cent com- |pared with the demand during the first half of February and of un- skilled labor about 50 per cent, ac- cording to the municipal employment bureau. This increase in the demand for workers is the first indication of the usual spring resumption of busifiess and industrial activity which brings 1o an end the slack winter season. Increased activity at the Sparro 'Point steel mills and in outdoor in- dustrial work Is responsible for the better demand for skilled workers. For the time being the demand for skilled workers is in excess of calls for laborers. During February the weekly average of men asked was 59. Last ‘week a total of 19 was requisitioned. The skilled work ers called for totaled 117, and the laborers, 7. i e FISH PRICES ADVANCED. BOSTON, March 13 (Special).—Fish prices have advanced & to & cents a pound on this market as the result of the storm which swept New England ‘Wednesday. Cod jumped from 63 to 8% cents whelesale. Haddock ad- vanced from 6% (o 9 cents to 9 and 14 cents, and pollock ‘went up from 63 to 7% cents to 9% and 1235 centa,