Evening Star Newspaper, March 17, 1924, Page 22

VIOLENT DECLINES - IN'STOCK VALUES ‘Market Stocks Weak, With Sharp Breaks in Many Leading Shares. BY STUART P. WEST. Speeial Dispateh to The Star NEW YORK. March wiarket today had the customary Monday -reaction. . There were al- loged reasohs in the outside mew. such as the prospect of the =o bonus bill going through. appeared ain a had bLeen toward 17.—The Sever nst going down 1 of stocky which close Kelly Springficld made a new low cloge to 16, anticipating the passing wt least of the dividend on the 8 per vent preferred. Other rubber and tirc shares were more or less de- pressed. ‘Tobacco Stocks Break. American Sumatra sold below 14 Tor the first time, but for no other than the familiar reason that the company has been ruaning behind steadily for the last threc years and “has been piling up & profii-and-los deficit of 000, Selling continued in Tobacco Prod- ¢ holders who had houzht on . predictions of At the Tobaceo pur would mean for Tobacco Products stochs and who wer. statement mado that the 19 eport was not likely to show the & per on the com mon covered, and ce that this dividend was'in dange Rail Shares Hold Steads. Railway shares for the most held up well, even while the selling movement was lheaviest in the indus- rials. Wabash common continued to be taken on large order: 1 ubove 15 and the preferred “A” maintained last week's rise. Int re- Vived in the ies in « favorable trat at ruary. Chesapeake and bought in expectation of in the d nd from the 10 4 $6 b The remar went in New Orlean ico continued carryin rew high. In no other was there an ineress. present §1 able mova- and Mex- quarter of the Such ‘a heavy short terest accumulated as in the Pan American This short account had heen piline up for months past on the idea that the dividend would be vither cut in two or passed altogether Phe reduction in the quarterly divi- dend from $2 to $1 announced ove Sunday was the less ubfavorable of these two alternatives. Accordinglv. after a small decline at the start, the horts set about covering. Other oils vere not affected by fluctuations in i"an Americans Rapld Transit Above 21. in Interborough list in- Rapid sit, Tying the to ew high for the nspired by the djournment ear Nork state legi stock up r, above 21, w uncement of th April of the New ture, - This made it & ppear the Rapid Transit pro- Eram fa ed by the New York city which would mean in- ng competition with the present companics. stood little or no chance to go through, Wall street did not believe the de- lials put out Saturday regarding the lations between Stewart Warner «nd General Motors. It continued to place credence in the story that the latter company was going to 1 its own speedometers and that this would mean the 1 very valuable business - Warner company. T Leavily sold and this selli upsettling effect upon t i stocks. Chandler Motors k n and Studebaker dropped below was i Auto Shures Weak. connected with the auto- mobile industry were notably weak and this madc more pertinent the auestion whether the record-breaking saies roported so far this are i reliable index of the futur Wall street is discussing how large a percentage of these sales have been made to the public direct and how large a remainder have been made to dealers. The possibility was co! sidercd of these wutomobile deals overstecked later in th Shares of much of the buying in in today tercst. It w: ngens of Cleve. . and that the buying was in sipation of important developments U the affairs of the company. < pays $t annually, and the talk 1 the street is that the rate will be in- The current four-dollar | tribution is being earned more than e times over. aturally. with the market going down, speculators for the décline played up to the utmost the results so far of the Daugherty investigation and the sensational statement attributed to Mr. Vanderlip that the disclosures of official corruption still to be made would “shale the countr; Worry Over Auto Dividends. Motor shares. were heavily sold on talk that sooner or later there would be overproduction in the industry. It was also pointed out that stoeks like Studebaker and Chandier would not be selling low if dividends were safe. As Studebaker went through par the selling became very heavs appeared o be made the other mote sharply. Otber motor mpathized with the break i arner, Hayes Wheel cspe- selling of some threc points. MARKET CLOSES HEAVY. U. S. Steel, Joins Tumble Final Tradinz. By tho Associated Pross, NEW YORK, March ors for the decling bringing about a sharp, day's stock market, While some of the selling believed to have been in spired by the decision of the house ways and means comm to report the $2,000,000,000 bonus bi ure w centered against sp ues i which unfavorable trade develop- ments are reported to be pending, es- pecially in_the motors, rubbers and 1obacco: Sales approximated 1,000,- 000 share: The closing was heav: Prices gave way more rapidly in the final hour when the customary leaders were subjected to selling “pressure. United States Steel breaking below 101. ; in PEACH DRIVE PLANNED. Growers Arranging for Big Adver- tising Campaign. Special Digpatch to The Star. SAN FRANCISCO, March 1i.—The peach growers of the Marysvale dis- trict and other co-operative organiza- toins are planning a nation-wide ad- vertising campaign similar to that FINANCIAL. part | the stock o a | The | tion in to- | NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office 2:65. ¢ 5% | G4 28 67% 4H4% 1 52 38 80 79 1134 93% 9214 ! Open. High, Tow. | Air Reduct (4).. 76% 77% 75% ! Afax Rubber. 7% 6% 1+ All Am Cab (6) 98 98 ! Allied Chem (4). 68 6% | Allis-Chalm (4). 45% 44% [ Am Agri Chem. . 1% . 11% i Am Agri Chem pt 3215 ' 32 Am Reet Sugar. 40% 38 i Am Bosch. 38% 30 {AMBrsS&F (5) 9 9 | Am Can t6) 115% 1134 [Am.&r.p2 931 934 | Am For P T pa. 924 | Am Hide & Lea Am Hide& L pt | [AmTen (7)., ... | Tee pf (6) { Am Internatl. . Am Locomo 18). Am Metal (3). .. | Am Radiator (4) Am Ship & Com.. Am Sm & Re (3) AmS & Rpt (7). TAm SH FPays (3) Am ST A Am Sugar. Am Sumat “ 102 | 13% | cm.i 9 37% | 104% | 52 | 12 129 Am Tobac ( 145 | Am Tob Ba(12) Am Tob pf (6). Am Water W Am W Wopr (4). Am Woolen (7). , Am Wool pf (7). Anaconda...... { Arn Cons & Co. Asso Dry G (5). 54 & < | Ass0 Ol (138). 3 & At T& S Fe (6) {AT&SFpf ( | At Coast L (7). 1 Atl Birm & At Atiantic Frait 1f & W 1 p! AtGuIt& WI... | Bald Loco (7) i 13al & Ohlo (5). | Bal & Oh pf (4) Barnsdall A Barnsdall B 1204 | B5% % | 5413 | Booth Fisheries. Br'k Edison (8). ! i Brk-Man Tran.. Br'k-Muan Tr pt. 65% i | Brown Stoe (4). 447 | , Brunswick Ter | Burns Er (10). Burns Br B (2) 8 | Butte & Supericr. i | Caddo Cen O & 1 King (5) . ot (1%,).... al Pet pf (7) Can 1 ific (10). H Carson H Gold. .. ! Cent Leather Co. ; Cent Lea Copt.. i Cent Rib Mills. . . { Cerde asC (4) | Clrand Mot (6).. Ches & Ohio (4). | Chic & Alton pf.. | Chic & East Il | Ch & East 111 pt. | Chic Gt West i Ch Mil & St Pau , Ch Mil & St I’ pf. {Chi & Nwn (4 Ch & Nwn pf ( { Ch PneuT (5). | Chia R1& Pac. Chile Cop (2% Chino Copper. Cluett, Peab (3). | Coca-Cola (7). { Colo Fuel & Lron. Colo Southern. .. | Col G & E (2.60). { Col Carbon (4) .. Com Solv A (4).. Com Solv B (4) .. | Congoleum (3).. Consol Cigar. ... Consol Gas (5). 981 | 1246 | 4% | 15% ¢ 24% | 50% 101 83 28% 26% 16% 71 62% 33% 304 | 83% 484% 59 49 62 13% | 15% 25' 501 101 83 28% Tl 16 1% 64% 334 204 101 83 62% 31% 8% 33% 48% 59 19 62 13% 61% 5 49 7% w o | 85 | 3% | 93 59% | 35t 165 66% 6% 69% | 30§ 51 | 108% | 114 18 129% 109% | s 20% | 59 12 €0% 26% 825 29 | 65% 11 46% | 118 1% 210 | | Corn Pr R (¥ 1+ Corn Pr R nw wi. | Cosden Co | Cosden pf (7). Crucible Stl (4).. | Cub Am Sug (3). | Cuban Cane Sug. | Cub Cane Su pf. . | Cub Dom Sugar. Cuyamel Fr (4) Dani Boone M (3). 1 baviason Chem. Del & Hud (9) Del L& W (6) | Dome Mines (2). {DuPtdeN (3). EastK (15%) | Eaton Ax (2,601 . | El1 St Bat (15%) { Elk Horn Coal. d-Jorn (53 Erle. | Exrle 1st pt. { Erle 2 pt. Famous P! (8) Fed Min & Sm. .. FaM&Sp (7). i Fid-Phe F In (6) | Fifth Av B (64c) ! Fisher Bdy (10). | Fish BO pf () Fisk Rubber. . Fisk Rub pfA.. Fl'chm'n (13%). Foundation (6). Freeport-Texas. Gen Asphalt. { Gen Baking (6) .. | Gen Cigar (8) | Gep Elec (8). { Gen El spe (60c) ! Gen Mot (1.20)... Gen Mot pf (6). Gen Mot db (€) . | Gen Mot db (7). | Gen Refr (4) . | Gimrbel Bros. | Girabel Br pt | Gold Dust w. | Goldwyn Plct. | Goodrich. . { Goodyear pf. . | Gray & Davis. | Gt North pf (5) | Gr Nor Ore (3) | Grt Wstn Su (3) i Gr Canan Cop | Guantan Sugar. 1f M&N pf (). Sulf StStl (5).. Hartman Co (4). Hayes Wh'l (3).. | Homestake (6). ‘Housen'd Pr (3). Houston Ol ... Hud Mot C (3) ..~ 28% | Fupp Mot C (1). 16 Lilinots Cent (7). 101% 11 Cent pf (6). ... 104% Indep Oil (25¢). T4 [ Indian Motorcyc. 20% Inspiration Cop. 24% | interb Rap Tr... 20% i Intérnat Agri. % 220% 10% | 15§ 82% 81% 100% | 4944 49% 101 | H 12% ] 21 % 6% 55% 20% 91% 14% 9 54 8% 39% 405 | 50 83 67% 35 z1 45% 6's €6 30 22 14% 9% 54 80 39% a3 50 83 69 6'% b5t 29 91% 14% 9 o4 8% 39% 40% 50 82% 67% 28% 27% 28 16 15% 15% 101% 101% 101% 104% 104 104 T 6% 6% 208 20% 0% 24% 24 2 224 20% 22% . £ o % 93% 934 934 42% 42% 424 | 24% 23% 23 26 26 26 i 84% 84% 84% % T TR 30% 29 294 1B% 13% 13% 38 38 38 66 64% 65 117 116% 117 14% 14 14% 46 46 46 24 23% 23% 18% 18% 18% 26% 26% 26% 80 9% 43 50 82% 69 Int Bus Ma (8).. 93% IntCement (4).. 42% 1ot Com Eng (2) 243% | Intern & Gt Nor. 26 { Internat Har (5) 84% | Int Mer Marine.. 7% | Int Mer Marpf... 30% Internat Nickel.. 13% 38 64% Int Shoe pf (§) ... 115% | Invincidle Oil.. .. 14% Iron Prod (132). 46 Jones Bros Tea.. 23% Kan City South.. 18t Kayser Jul & Co.. 26% Open, 16% 5% Melntyre (1)..... Mack Cos pf (4). Mack Trucks (6) Mack T 2d (7) Magma Copper Mallinson & Cc... Mallinson pf (7). Aan E 3 alan Ele md gtd. Maracaibo OIl. . Mkt St Ry pr pf. Marland O. ... Mart-Parrs (3).. Maxwell Mot A.. Maxwell Mot B... May Dpt 8t (5).. | Mex Seaboard. Aiex Seabward cf. Miemi Cop (2) Middle StOMl., . MStP&SSM (4).. Mis Kun & Tex... Mia K & Tex pf... Missour! Pacific. Missour! Pacpf.. Monteom Ward.. Maon Mot (). .. Mother Lode (1) Mullins Body. ... Munsingw'r (3). sh Mot (1815) t Acme... ... Nat Biscuit (3). Nat Dairy (3)... Nat Dept Stores. NDSistpf (7). Nat E&Spt at Lead (8) t Lead pf (7). OrT&M (7)., Y Alr Br (4., NYABrA ). N ¥ Central (7). N Y C-Readx rts. C&SIL pI(8). NY NH & Hart. ., Norf & W (18) North Amer (3). North Pac (5)... {OhioBav& BI. .. Otis Elevat (8) | Ouls Steel P Otis Bteel pf, .. Owens Bot (3) Pacific Coast. .. PacG & E (8). | Pacific Il (2). .0 Packard (1.20) Packard pf (7) | Pan Amer (8). Pan Amer B (8). Parish & Bing. ... PennC&C (4) Penn Ralirad (3) Penn Seab Steel . Peop Gas Ch (7). Pere Marq (4) Phila Co (4). Phila & R& T w! Phillips Jones Phil Mor (50c) Phillips Pet (2) Pierce-Arrow. Pierce-Arrow pf.. Pierce OIl. . Pierce Oll pf. Pitts Coal (4). Pitts Coal pt (6) Pitts StIpt (7).... Pitts Ut pf ef 95, Pitts Util pt 95¢. Pitts & West V; Press Sti C (4) Prod & Refiners.. PubSer N J (4).. Pullman Co (8).. Punta Al 8u (5). Pure Oll (1%) .. Ry Stl Spg (8)... Ray Cons Cop. Reading (4). Read 1st pf (2 Rem T 1st pf (7) Replogle Steel. Rep Ir & Steel ..., Rep1&Spf (7). Reynolds Spr (2) Rey Tob B (3) Rey Tob pf (7 Roy D'tch (3.46 St Jos Lead (12) St L San Fran. St L-San Fr pf. St L Sothwest St L 'th pt (5) Javage Arms. Schulte (§8) ... Seaboard Air L... Seab'd Alr Lpf. Sears Roe & Co. Sencca Copper. Shell Un Oil (1) Simmons Co (1 Simms Pet. ... nc Con Ofl (2). keliy Oil. . Sloss-Sheff So P Rico Su (6) So Por R § pf (8) South Pac (6) . Southern Ry (5). South Ry pf (5).. Spicer Mfg. St Ol Cal (2)... StOIINJ (1) StOfl N Jpt (1). Stew't War (10). Str Car (19%) ... Studebaker (10). Submarine Boat Superior Oll Tenn C & Ch. Texas Co (3) Tex Gulf S(6%). ‘Texas & Pacific. Tex & PacC&O. Third Avenue. ... Tide Wat Oil (4) Timken (3%). Tob Prod (6) Tob Prod A (7 Transcont Oll Un Pacific (10).. Un Pacpf (4) . Un Tank Car (5 Utd Alloy Stl (3). United Drug (6). Utd Ry Invest. Utd Ry Invest pr. UBCIP(2) Hoff Mach. Ind Alcohol.. R & Im (8) R&Ipf(7) S Rubber. . ..... USR 1et pf (8).. U S Smelting. U SSteel (15%). U S Steel pf (7). Va-Caro Ch pt. Va Ry & Power... Vv Vivaudou (2) Web & Hellb (1). ‘Wells Far (2%) . ‘West Maryland. | West Mary 2d pf. ‘Western Pacific. West E& M (4) Wh Eag Oll (3)... White Mot (4) . Wickwire Sp Stl Wilson & Co. Wil & Co pf. %:un-on o, £ pf. . Wisconsin Cent. High. 16 65% 86V 884 35% 21 86 55 38 102% 118% 67% 26 30% 24 8 36% 10% 16% 46% 14%:- 19% 3% 9% 17% 16% 61 9 19% 26 5% 3% 15% 53 1% 825 36% HIGHER QUOTATIONS ON LIBERTY BONDS | Prospects of Bonus Passage Ignored—Easy Money Helps Whole List. BY GEORGE T. HUGHES, Hpecial Dispateh to The Star. | NEW YORK, March 17.—For the { most part bond prices were steady in today's market. The prospects of bonus legislation at Washington were t Jeast there was no anx- | ealed {n the trading in lib- The third 43s sold at par, the { 3125 at 99 and the bal-| tux exempt ‘ance of the list were fractionally i higher. High-grade rails and Indus- i trials were firm. Probably the in- ; creasing ease in the money market was one of the sustaining factors in { bonds. B ‘Traction Hon Strong. , . Special strength was noted in the Intcrborough - obligations. Dealings were heaviest in the 7 per cent notes {and in the refunding s etamped. In {each cuse advances amounted to . about a point, under lighter trading went up about | as much, In the railway list there was ac- j tivity and strength in the Southern nd Seaboard Air Line issues. Sea- ! board 63 were the feature at a new | high above 79. There wus u better l tret for Baltimore and Ohio obli- s, stimulated by reports about refunding plan.” New Haven bonds were a shade better. Chesa- Ohlo convertible 5sx and o 1%s were. both strong. | New York Central 6s were higher. LAl the Erie bonds were well | beught. Traders anticlpate good | February carnings statements. sl Kelly-Springficld S Break. €2 99 97 12% 12% 43 58 34 42' 4 117% 65 23% 110% b4 86 23 10% 52% coach a day until it is poksible to| 1% i7 69% 130% 37% 57% 86 4 1284 70% 99% Tihe weak spots of the day were found among the industriate. Kelly: iSpriagfield 85 were conspicuous with j break of nearly 3 points. Heaviness |apreared again in Wickwire Spencer {Steel 7s. Virginia Carolina Chemical bonds went lower. On the other hand, Cuba Cane Sugar 8s were stronger. Better pri were recorded for most of the active foreign bonds. All the French issues were higher, the 88 {touching 9% for the first time on this recovery, French cities 6s selling Austrian 7s crossed 90 1o & new high for the vear. Belgian {745 and $s were unusually active and fractionally higher, New financing continues compara- {tively light. | e ANOTHER MOTOR BUS STARTS IN CHICAGO ECoaches to>Run on Two-Minute Schedule in Thickly Set- tled West Side. | Special Dispateh to The s | CHICAGO, March 1 ‘The 6 per cent notes | o THE EVENING STAR, WASHINGTON, D. C, | ! | i { ‘MON AY, MARCH 17, 1924. - [on wev vorx BONIDS smocx excaance |, Recelved by Private Wire Direct to The Star Office. (Bales are in §1.000.) UNITED STATES BONDS. (Fractions represent thirty - seconds. Example: 98-3 means 98 3-32.) Bales. High, Tow. Clos. Lib 8% . 400 9= 98-29 98-30 Lib1st 4% 79 998 99-4 997 Lib 2d 4% 465 998 Lib3d 4%s... 406 100-1 Lib4th 4% .. 1950 9911 US4%s1962. 23 100-5 100-3 100-4 FOREIGN. Sales. High. Argentine 7s - 4 101% Argentine s ABO 9% Austria 7s. €9 90% Belgium 7 %s 23 101% Belgium 6s. 8 9%, Belgium 8s 18 100 Bolivia 8s 6 &8 38 T 9 79% 23 93% 2 9% 100% 101% 99% 104 85 43 10¢ 88% 824% 95% 106 107% B8 93y Low. Close. 101% 101% 89% 8% 894 89% 101 101% 987 98% 99% 997 87% £8 6% 79% 9% 93 /93% 9% 9Th 100% 100% 100% 1007 99% 104 o 43 108 8% 92 954 106% 107 887, 931 % Canada 58 1928.... Canada 5%s 1929, , Canada bs 1952.... Chile 82 1941 Chile 75 1943 Chinese Gov R Ohristiania 8s. Copenhagen 6%s. . Cuba 5%s Czechoslovakia £a. Danish Munic 83 A Denmark 8a. .. Dutch B I5%s. Dutch Hasi 168747, 6 Dutch East I 6s'62, 1 Finland s f 65 1945.. 18 Framerican 7%s.. 1 French Govt 8s. ., 147 French Govt 7%s. 85 Haiti 6s. 2 Holland-Amer 65. . Ttaly 6%s 1926 Japanese 1st 4%s. Japancse 2d 41:s. . apanese 48....... Japanese 6138 w 1. 295 Jergens UM 6s'47. 2 Lyon 6s 24 Marseille 6. .19 Mexico 4s... .9 Netherlands 6s.... 3 Norway 8s. eee 4 Norway 6s1943... 13 Norway 6s1352... 4 Orlent Dev deb 65. 16 Paris-Ly's-Med 6s. 60 Prague 7%s. .. 14 Quecensland 7 Rio de Jan 85 1946. Rio de Jan 8s 1947. Sao Paulo State 8s. Seine Dept of 7s... Serbs Crotes Slo 83 Sweden 6s. . . Swiss Confed 8s. Tokio 5s. . s Ud Kingm 29 Ud Kingm 5%s '37. Uruguay 8s... Zurich 8s. . MISCELLANEOUS. Ajax-Rubber $s Am Agr Chem 7 m Chain s f 65" m Cotton O Am SmIt&R 1st 5s. Am SmIt&R 6s. Am Sug ref 6s. 104 95 43 108 8834 92% 95% 106% 107% £8% 93% o3 89% 88% 98l 94% 90 9% 99 o7 T8% 92% 78 77 % 27% 92 4 111% 925 924 834 T4 6% 5 1 1 1 66 5 1 9 1 o feaaBiliamnan 46 4 {AmT&Teves Am T &Tecl trds.. AmT&Tcltr4s.. Am T & T dey 5 ! Am Water W Anaconda cv d Anaconds 1st Gs. ., Armour & Co 4% Armour of Del 5%2 —Another mo- | Associated Oll.6s.. {tor bus route went into full schedule | Barnsdalls f 8s. {operation here today with three sub {routes which tap the thickly populat- {ed districts of the west side. | begin with, the coaches are run- {ning at ten-minute Intervals, but this {Will be cut down to two minutes. {The 1nanagement plans to add a operate Coal [wide {the volume th the vitom fig! EXPORTS OF GRAIN | SHOW SHARP DROP i on the shorter schedule. range in the last week, but of sales has been &mall, lerger purchases made at Cnmmcn;e Department Reports Only 1,050,000 Bushels Shipped During Week. cain - exports from the United i i | Bell Tel Pa b8 Beth Steel G%s Beth Steel pm s To | Beth Steel 8 £ 6: |Brier BSt1st5 Bklyn Edison 7s D, Bklyn Ed gen s... Bueh T Bldg bs '60. Calif Pete 6%s. ... Central Leather 5: markets here have shown | Chile Copper 6s CinG & B 586 Commonwth P 6s.. Con Coal Md 1st 53 Cuban-Am Sug 8: ! CubaCane cvd 8. Cuba Cane cv 7s 30 Dery (D G) Ts. { Det Edison ref 6s.. { Du Pont de N 7%3s. Duquesne Light 68 | Est Cuba Sug 7%s. Empire G&F @ %s. Fisk Rubber $s.... Gen Elec deb is... 28 Gen Refractres 65. 2 ‘Goodrich 6%s..... Goodyear §51931... Goodyear 8s 1941.. Hershey 65 1942. .. Humble O&R 5%s. States last week were 1,050,000 bush- | 1llinols Bell 1st 5s. . as compared with 2,782:000 bush- | Int Mer Marine 6s. els’ the preceding wee! ent of Commerce toda: Exports for the last year were 2,5 The exports included: 000 bushels thix week. with 1.27 corn, 710,000, against 1,000, against 2,000; barley, 47,000, against 507,000. There were no exports or rye last week, while exports the preceding week were 24,000 bushels. the Depart- announced. corresponding week 5,000 bushels. Wheat, 2 as compared were given by 1,710,000 bushels last week, against 5,243,001 ates and Canadian flour in week aggregated 336,000 {barrels, “against 683,000 barrels in | transit the preceding week. $10,088,450 OUTLAY at Baltimore and Costly Changes Planned at Piers. Special Dispateh to The Star. BALTIMORE, March improvement rk, amounting to $10,08%,450, is under way by the Balti- more and Ohio Railroad Company this eity. The program includes the er. of o grain elevator at pler N zalleries at Locust Point, which will cost $5,555,000; an office building-and laboratory’ at Mount Clare, $210,500; machinery to be installed for the test bureau at Mount Clare, $46,700; a fen-ton gantrv crano‘at Mount Clare, $41,300; shop tools to be installed at the same place, $94,950: pler No. 3 and repairs to pier No. 5, Locust Point, ~ $3,700,000; improvements to pler No. 10, Locust Polat, $241,290; extension of the third track at Bay View, $19,780; water supply at River- side, $38,000, and.a bridge across the Belt Line railroad at Barclay street, $83,000. ' SHORT TERM SECURITIES. * (Quotations furaiahed by Redmond & Co.) Algminum Co. of Alpminum Co. of Am American goltlll ::lllm1 e ugar. American Tel & Tel. 6 19350 12+ Anaconda Copper 6s 1920... .. 101% Asgio-American il 7i4s 1925 zll ‘Tel. of Canada 5s -1925. i eher 52 1955, s Chl"‘ ll« 1. & Pacific 5% Du Pont 7%s 1831. | The total grain shipments in transit New Eng Tel 5. the department at|nNy Em“', 1st 6% i bushels the preceding week. | | N Am Edison 6s... i i ! BEING MADE BY B. & 0. paciaccas & zi5s Grain Elevator Under Construction | Ean-Am Pete 7s... | Ehila Cobka '3 17.—General | pub Ser Elec 63 wi. in ! Sharon St H 8s... Inter Paper 58 '47. .. KCP&LtbsAb2. Kayser (J) 7s. . | Kelly-Spring 8: Liggett & Myrs Magma Cop cv 7s. Manati Sug sf 73%: Mexican Petrol 8s. Midvale Steel 5s... Montana Power bs Morris&Co 1st 4%4s 100% 102 89% 954 80% 981 110% 98Y% 104% 1064 937 Y 907 101% 107% 94% 92% 913 101 92% bat] 102 7 109t 87% 9815 117 103% 100% NYG EL H&P 5 N Y Tel 68’41 N Y Tel6s'49 N Y Tel 4%s. - or States Pow 5s. Nor States Pow 6s. Northwst B Tel 7s. Otis Steel T%s. B arnmacmrRaseRossaan = Pac Tel & Tel 58 B Phil & Rdg C&I 5s. Phila Co ref Gs A, Pierce-Arrow 8s. Producers & Rf 8s. Public Service §s. . - = Saks & Cosf 78, Sinulalr Oil 7s. Sinclalr Oil 8% Sin Crude Oll 5% Sin Pipe Line 5 So Por Rico Sug s Southwest Bell bs. Steel & Tube 7s. Sug Est Orfent 7 Tenn Elec Pow 6s. Toledo Edn 1st 7s.. Union Bag & P 6 Unit Drug cv USRublatrf U S Rubber 7 U SSteel s { 5 mEraiGalncanehe o 108 113% 83% SomGamna 103% 102% 95% 67 110% 107% 63% 95 w8al 95 66 110% 107% 62 844 90% 84% 5% OHIO BANK LOSES CASE IN SUPREME COURT . The First National Bank of Colum- bus, Ohio, lost today in the Supreme West Union 6%s. Westinghouse 75 Wickwire Spen 7 Wilson & Co 1st Wilson&C cv 7%, Wilson & Co cv 6 Youngstn S & T 6s. s 6 96 95% 99% | [0 Short Licn 55 '46. RAILROADS. Sales. Atchlson gen 4s... 17 Atchlson adjds... 2 AtlanticCL1st4s. 3 o1 BkIRT 78’21 ctst. 17 Canad North 6%s. 11 Canad Pac deb 4s.. 28 Car Clinch & O 6s. 14 Central Pacific 4. 14 Ches & Ohic cv 58. 177 Ches& Ocval4s.. 59 Ches & O gn 4%s.. Chi & Alton 3s. ... Chi & Alton 3%s.. Chi B&Q 15t rf 65 Chi 11l gn 5s Chi Great West 4s. 15 CM&PugetSdds. 6 Chi M& St Prf 4341 12 ChiM&StPeyvss. 8 ChiM & St P 45°25.163 Chi M&S Pcv 4338, 32 Chi MEST P4s'34. 4 CM&St Pdb4s 13 ChiM&StPéswi. 3 21 2 CCC&StL Tt 6s A.. Cleve Term 5s Cleve Term 6%s. . Colo & Sou 41 Cuba R R 6s. | D & Rio G tmp 5s. Den & Rio G cn Det United 414s, Lrie 15t con 48 irie con ext 7s. Erie gen 4s. . ll-:rle conv4s A e conv 4s B Erle conv 4s D Gr Trunk st db Grand Trunk 7 Gr North gen 7y Gr North gen5 Hud & Man ref os. Hud & Man aj és. . 111 Central ref 4s. . 11l Cent ref §8°'55. . 11l Central 5%s Int Rap ran os... Int Rap Tr $s stpd.129 Int Rap Trans 6 Int Rap Tran 7 Int & G Noraj 6s.. 30 Int & G Nor 1st 6s. Towa Cent rt Kaneas City S 58.. Kan City Term 4s. Lake Shore 4s'28.. Lake Shore 4s'31.. Lehigh Valley 6s. . Louls & N uni 4s ! Louis & Louts & Manhat Ry cn 4s.. Market St en bs Mil El Ry & L 5s. M& St L 1st ref 4s M StP & S5M o ¥s. MK&TprinssA. &TdasB. &T6sC... MK & T adj 5 Mo Pacific 6. Mo Pacific 5s Mo Pacific gn 4 | Montrl Tm 1st New Or Term 4s NOTex & Min 5s. NY Cent gen 3128, Y Cen deb 6s. Y Cen deb 4s YCenrlss N Y Cent cn 45°98. N Y Cen LScl3%s. New Haven c d 6; New Haven 7s. Y Rysadj Gsct.. Norfolk & W cn 4s. Norfolk & W cv 6s. orthrn Pacri 6s. Northern Pac 58 D. Ore & Calif 1st 5s.. EXTPY Ore-Short Liref 4s. Ore-Wash 1st rf 43 | Pennsyl gen 5s..... Pennsyl gen 4% Pennsyl 635 Pennsyl gold 7 Pere Marg 1st 5s. Reading gen ds.... Reading gn 44wl StL&SFplisA.. StL&SFprinss. StL&S Fine6s StL &S Fadjés.. StL&SFplesC.. [StLSWistds. . StLS W con 4s 3% SUP Un Dep 534s.. San A & Arn P és.. Seabd A L dssta.. Seab'd A Luref 4s..115 Seab'd A Ladj 5s.. 62 Seab'd A Lcon 6, .129 Sou Pacific 4s 1923, 12 Sou Pacific ref 4s.. 13 Southern Ry 1st 6s. 11 Southern Ry gn 4s. 21 Southern Ry 6%s.. 7 Southern Ry 6sct. 79 Third Ave 2dj 58... 20 Tol StL&W4s... 7 Union Pac Ist 4. .. 12 | Union Pac1stre s 16 Unlon Pacific cv €s { Union Pac 1st rf 6s Virginia Ry 1st 3. Wabash Ist bs Western Md 4s. Western Pacific 58 West Shore 1st 4s. Wisconsin Cent 45. 3 o e DoREans o B 1p.m. 8 225000 By tho Associated Press. NEW YORK, Nominal gold value. March High. 103% 98% 45% 7% 89% 8314 1025 100% 94 97% 61% 84% 8035 8% 99% 9974 82 @ L% 5% TOTAL SALES (Par Value): 1:am..3672000 12noon 5807000 2 p.m....9 849000 - S FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Selliug checks, today. 100001415 00030 201 1545 1354 ‘2636 17.—Foreign 96% | cxchanges irregular. Quotations (in United States dollars)—Great Britain, 1033 | demand, 4.28%; cables, 4.28%; 60-day 102y | bills on banks, 4.25%. France, de- ANCIAL. _ COTTON IS STEADY AS WEEK BEGINS Active 0l1d Crop Months Go Higher on Better Cables From Liverpool. By the Associated Press. NEW YORK, March 17.—The cot- fon market opened firm at an ad- vance of 20 to 45 points on continued buying, which had developed toward the end of last week and which found addition encouragement in the firm- er showing of today's Liverpool lcables and unfavorable weather re- Iports from the south. May contracts sold at 29.70 and October at 26.16. These prices attracted realizing. but the offerings were readily absorbed on setbacks of 10 or 20 points, and the market showed a very steady undertone during the early trading. Private cables reported the firm- nass in Liverpool was due to small offerings and coverings on the firmer statistical position and a good spot demand. | _ New Orieans Prices Strong. NEW ORLEANS, March 17.—The cotton market had a firm opening, first trading recording gains over the previous close of 24 to 26 points. Liverpool was very much better than due, and cables reported a better feel- ing and a scarcity of contrac iPrices continued to move upward 1after the opening. May traded up to 29.71 or 42 points above Saturday's close and October Lo 25.64 or 29 points up. At'the end of the first half hour active old crop months were about 10 points off from the early high. Noom Bids on Cotton. NEW YORK, March 17.—Cotton fu- 11:45 am., bids steady. May, 29.59; July, 28.91; October, 26.10; De- cember, 25.75. NEW ORLEANS, March 17 futures, noon, bids stea 2 May, 29.60; July, 28. December 25.20. Washin'gtan Stock Exchange. SALES. Washington Gas 55—8§500 at 93 Capital Traction 55— 8$500 st 96 Riggs Realty (Jong) 5s—$1,000 Capitsl Traction Co.—3 at - 2 at'Bel. 2 —Cotton March, October, T 9. 10 at 943, APTER CALL. Capital Traction 5s—$300 =t Washington Gas 8e ‘35—$100 at 100%, $100 at 100%. Money—Call loans, 5 and 6 per cent BONDS. . Bid and Asked Prices. PUBLIC TTILITY. i Bid. { American Tel. & Telga. 4x American Tel, & Telga. 4%, |Am. Tel. & Tel, cti. tr, . American Tel. & Tal. conv. 6s, Anacostia & Potom: Azacostia & Potomac g C.'& P. Teiephone 5 C. & P T of Va. Capital Tra o | City & Suburban | Georgetown Gas 1t Metropoll: . T Totemac Totomac Fiec. Potomac Elec. Potomac Elec. Pot. Elec. Pow. Asked. . 83y 107 Wash, Rwy. & Elec. 4 MISCELLANEOUS. D. C. Paper Mfg. 6 Riggw Realty by (i Riggs Realty Os (short) Wash. Mkt. Cold Storage Wardman Park Hotel Gs STOCKS. | Norfolk & Wasi Wash. Rwy. & Wash. Ry Terminal Capital e Federal-American Liberty { Lincoln Second 1110 3 | National Bank of Washiagton. TRUST COMPANTY. American Seeurity & Trust. Continental Trust. | Merchants' Rank. National Savings a3d { Union Trus | Wash. Lown & Tru i SAVINGS BANK Commerce and Savings. | East Washington... . Security Savings & Commercial.. Seventh Street.. United States. Washiogton M FIRE INSURANCE anics Amerscan Corcoran Firemen's ational TITLE INSURANCI Real Estate Title. MISCELLANEOU D. C. Paper pfd. Merchants’ Trao, Mo nthaler Linotype. . Natl. Mortgage & lnvest. pfd. 014 Dutch Market com. 0ld Datch Market pfd. Lanston Monotype. rity Storage W ington Market. Yellow Cab “Exdividen | | TODAY'S CHICAGO PRICES. ! CHICAGO, March 17. ment of corn to terminal markets, { higher prices for corn were reg- istered today in the early dealings. {The fact that heavy snowfalls and llo\'ar temperatures were threatening further delay to oats seeding tended also to 1ift corn values. Commission Louses were buyers of ¢orn and rural offerings were small. _After opening 1 1 to 3 higher, May 77% to &%, the { corn market continued to range above thous'd, | Saturday’s finish. Although in sympathy with an ad- l\mnce in Liverpool quotations the { wheat market here showed firmness at the start, declines quickly took place. Traders.appeared to be im- pressed more with improved pros- pects for domestic winter wheat than by news from KEurope.. The- opening which varied from unchanged figures to % higher, May 1.06% to 1.065% and July 1.07% to 1.07%. were followed mand,, .0483%; cables, .0490%, Italy, ! by a moderate setback all around. demand, .0424%; cables, .0425%. Bel gium, demand, .0402; cables, .040; Germany, demand (per trillion), .22. Norway, de- Holland, mand, demand, 1353%. Denmark, Switzerland. demand, demand, .1257. Poland, demand, slovakia, demand, via, demand, mand, .37, L0123%. 000014 %. Sweden, demand, demand, Greece, demand, .016 .00000012. -0288%. Jugosla~ Austria, de- Rumania, demand, .0053%. “Argentina, demand, .34. Bra. zil, demand, .1125. Tokio, demand, Montreal, .96 11-16. VISIBLE GRAIN SUPPLY. Oats started % to % higher, May 46%, and later, held firm. . Provisions were lower in line with the hog market. @Open. High, 1085 1.08% - 107 107 108" 1.08% I ‘lflff: Tow. 10535 1.081 107 Close. J A5 4 i 11.07 1130 . feated at { fed < | loan | P -+ {Stock E b }'(a.ilw;\ fat - ;| slightly to 84 :{ Washington I |with the | ‘With ‘weath- | er coniitions agaimst u liberal move- | MAY INVESTIGATE CRISSINGER'S ACTS Francis M. Savage Seeks Congressional Probe of Former Controller. Francis M. Savage, president of the Northwest Savings Bank, ix bringine pressure to bear on Congress with the end of instituting a congre: sional investigation of the office of controller of the currency unde Daniel R. Crissinger, now governo of the federal reserve system. A lei ter, setting forth various reasons wh such a procedurc would be for th |“common good” has already beer Dlaced in the hands of a member « Congress, it is learned. The charges of delinquency durin= Mr. Crigsinger's administration ar. broad in scope and allege there wer. no proper efforts madc to conform to the law or the purposes of lcg lation and the will of the people. Branch Banks An Issue. The failure of the former controller to act and take proper legal actin to close a branch of the First N tional Bank of St. Louis, placing upo: others the heavy expense of doi #0 through cosuy litigation, is ¢ specificall Also “his allowing opening of a branch of tonal Bank on Dupont ercle, | about, as reported. through an ° interest’ which we b agency act. The alls called " ‘tellers' windo getting legal authority also attacked. Tn _addition, charges “that of discrotionary drawn from 1t Millspaugh ac apparently, Mr. authority of Mr. Crissinger stance state that lic was withol ta knowledge of t | sources of the local reason ziven Ly ! authorizi branch bank does not appear to the slightest confirmation. Thinks Action Too Hast “The granting of authority upe he same day the application wis { made 1. a branch. without pub | iieity iiting the re ts o . does not_appear 1o u isc of discretionar of good faith. such . priviless zhteen month nd the ch “The grantin wher. fter ¢ {ience it appears that two b Dot prosper at i fair rate of interest does not appear to us as either tic excrcise of discretionary authority or an act in accord with accepted dards of mercantile conduct,” (Ref- erence is here made to the Was! ington Heights office Riggs, o 18th street and Columbiy rcad northwest. sion of about the clos i with the control |vigion of the District b Ar. Crissinger could not be Bankers: Oppose Treasury Method. A subject of much discussion banking circles throu . through etion 1ie of the certificates stopped tates, where it w the withdra ed with hankers. 1 short time ago a ! Pennsylvania bankers. In conventi {in Philadelphia. adopted a resolution {against the sale of the. certifl { following a s | trom Charles the Penns tion. Loan Subscriptions, $18.8 }| Subscriptions to the new received from éral Reserce Bank | 875.500, of which $11.95 ! 1otted. 4 Total subscriptions r 60,500, and total amount a5 $400,299,000. of which §1 000 represented tenders of cortificats : maturing_ March 15. Of this 1a nount, $38.000.000 were exchanged r Treasury account. Loeal Exchange Strong. Strong prices ruled the Washington hange this morning. preferred sold at with hington *Gas Light holding firm 1. Capital Traction was off and 91%. as 58 brought 937, s selling at par and sold at 96%. and Riggs s changed hands at Ivania Bankers' Treasy Richmond led §1 0 were ved wers Tiorted | W Traction !l‘.cal!)' long { i ! | COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY BOSTON, March 17.—Two carloads !af machinery arc being installed | the woolen division of the Amoskeay ! Manufacturing Company. It lieved here that as a result of south- ern competition in cotton goods the manufacture of woolens will play @ | more important part in the opera- | tions of the Amoskeag company from {now on. in is b CLEVELAND, March 17.—Opera- i tions of textile manufacturers here !now arc reported at a high point. The Cleveland Worsted Mills are run- ning_at normal city, whilo pro- | duction_ of glos or artificial silk by the Industrial Fiber Company has been increased from 5500 to 6,000 pounds daily. SACRAMENTO, Calif., March 17. Announcement has been made here that the cotton acreage in Tulare, Glenn and Fresno counties will be increased 6,000 acres over the amount. i planted in 1623. The cotton growers of California realized $20,635,000 for their crops in 1923, TULSA. Okla, March 17.—The Mu- tual Oil Company has made a second . purchase in the Country Club pool, amounting to 350 acres of proven ground, with an approximato daily production of 700 barrels. The, pur- chase ' was made from the Per Ol Company and the Larraine Petroléum Company, and ithe price was an- nounced as approximately $1,000,000. TOLEDO, Obio, March 17~—~The management of the Electric Auto Light Company, manufacturers of motor starting and lighting systems, estimate that the net earnings of the first quarter of this year will be ap- Court in its appeal to prevept the Louisiana highway commission and |eupply of Ametican grain shows the fol- the treasurer of - Louisiana - from')owing changes, in bushels: © Wheat, | 9.65 | proximately $750,000 and for the sec- paying out certain funds on deposit in 'fumued 750,000; corn, Increased, 2,594, - 997 | ond quarter $1,000.000. The increase 1030 | in profits is attributed to increased 103 | factory efficiency and reduced costs. . { ST. LOUIS, Ma 17.—The Léuis- U. 8. TREASURY CERTIFICATES | ville and Nashville railroad: program for increasc of equipment this year provides for expenditure of $19,000,- 000. Among the equipment t9 beier- dered are 30 locometives, 34 passen- ger coaches and 3,675 freight cars CONNELLSVILLE, Pa., March Several labor disturbances in this re | gion have resulted in a slacdkening of coal production, but markets are dull aud the Buyers ‘ace 1P o mvEnd, % g ere is equal inactivity in the eoke 1951535 101 T8 | mariets and the price has sorcened 10 100132 “on spot furnace coke. | Kelly Spr Tire... 17% Kel Sp T pf (6).. 63 { Kel Sp Tpt (8).. 55 17% 16% 16% 63 63 63 55 524 524 108 106 106 36 __35% 25 2 60% 60 2% 1% 68 53 53 & 16% 56 87 89 284 ‘Wright Aero (1). NEW York, March 17.—The visible Wrig WJr (3). Youngst S&T (6). {Partly extra. §Payable ividend rates’ as given In ti e the apnul cash paym iatest quarterly or Laif- Unless otherwise noted, dividends are not included. 10% Edison El. 11l. Boston 5’ 87% Empire Gas & Fuel 7n Vederal Sugar Ref. Gs 1933. el S vy, 08 15T Great Northern 75 1936, Gulf Oil Corp. of Pa. 5! Hamble Oil_5%s 196 7 Nell k;u;b & 5. which_has been condueted for som. years by the Sun Maid Raisin Growers Association. The peach growers now 2 re negotfating with canuers in an | Kcls Wh pt (7).. 106 effort- to induce the latter to share | KenneCop (3).. 36 in_the expense of this program. | Keystoue T& R.. 2% Until the plans for such u cam- iinney GRCo.. 60k paij are fully ecides on an e 2 Tesults are being felt, Krowers ure | Laciede Gas (7). 92% being urged to curtail planting of | Let Rub & Tire.. 11% peach trees. By this means il is| Leh Val (3%) 68% hoped swiftly to bring together malu;& My (new). 537 demand and supply. | Lig & My B(new) 53 ——— Lima Loco (4).. 52% Before You Invest—Investigate, | LocwsIng (2)... 1 It's ’;:eer how careul a man ean | Loose-Wiles Bis. 56 be after he's lost his money. Abe|Lorillard (new).. 37% Martin says that a man who Is not| Louis&N'sh (5) 89 satisfled wtih 6 per cent and his|Ludlum St1(2).. 22% woney are soon parted. the Hibernia Bank of New Orleans. | 000; oats, increased, 40,000; rye, in. Contending it was the intention of |creased 326,000; barley, decreased 30,000. the state to abandon the construction Ty of the Hammond-New Orleans high- MAY GET 40 PER CENT. way and use the money for other| NEW YORK, March 17.—The 13,000 purposes, thé Ohio bank as the own- [ creditors of the bankrupt er of the lands, which it alleged |tional banking and brokerage house would have been’ enhanced in value |of Knauth, Nachod & Kuhne, which by the construction of the proposed | failed last June for nearly $12,000,000, highway, sought to have the federal | may eventually receive about 40 per S courts restrain the state officlals from | cent of their claims, according to | %% March 15, Ig26.. using the money in the New Orleans | figures presented at the first credi- | Ly Mareh 15, 1957 bank for any other purpose than the | tors' meeting by Middieton 8. Bor- | 4iss Decomber 15, 1 construction of the highway. 60 Il o | foe e} 4s Jude 18, 1924, & ! interna- | 352 e, ics { 4iis December 13, 1924 4 1N }"“ufs'x#'“ u: % 123 Dot '35, 1025 X 18 100 11-16 100 2532 100 1332 100 17-32 1 10032 1ot faz 1ot 100132 100-32 HOURLY SALES OF 8TOCKS. 16y |11a.m.....834 300 1pm..... 663 50O 56 |12mM......555 800 3D.m.,... 788 200 87 1. e 89 | Tarpon Springs, Fla., is the prin- 284 {cipal center of the American sponge- srowing industry. land, the receiver. March 15, 1025 4