Evening Star Newspaper, March 29, 1924, Page 13

FINANCIAL. - STOCKS ARE DRIVEN TONEWLOW MARKS Price Movements Mixed at Market Opening—Specula- tors Continue Activity. O the Associated Press. NEW YORK, March 28.—Specula- tive operations in today's brief ses- sion of the stock market again were ! featured by selling tendencies. Efforts o continue yesterday's late rally at the opening were frustrated by profit taking and resumption of scattered liquidation, which forced a number of active shares to new low levels for the year. Bethlehem and Gulf States Steels both established new ~ minimum figures. Subsequent selling of o0il and rubber issues accentuated the downward trend of the market, but losses in the more popular shares were confined to fractions. The clas- ing was easy. Sales approximated 350,000 shares Price Movements Variable. Price movements were mixed at the opening of today with a continuation of yesterday's iater rally in a number of industrial leaders. ~ Selling pressure against corn products, however, was resumed, carrying the stook down more than a point. Several minor weakened to new low levels. Aftor Faldwin had risen a point | profit-taking sales developed in the pivotal shares, causing recessions in United States Steel common and Amcrican Can and tending to depre the market generally. Corn Produc extended its loss {o more than 3 points. Fisher Body, Plerce Oil pre- forred and Otis Elevator yielded 1 to Kelsey Wheel, vesterday, recovered virtually all of its loss with a gain of 5 points lewel Tea preferred fell 3 points to 4 new low level at 80. Foreign ex- changes opened steads REACTIONARY TREND OF PRICES FOR WEEK Wall Street Dealings Indicate Slackening of Industrie: and Trade. By the Associated Press. NEW YORK, March —Stock prices turned reactionary this week as Wall street began to discount in- dications of a slackening in industry and trade. Bond prices shaded on the disappearance of easy money rates. Weakness also developed in the com- modity markets. Trading in the for- eign exchange became more quiet on the subsidence of heavy rule for all the principal rates. Withdrawal of interior funds from this center and the distribution of the huge surplus bullt up in connection ch 15 income tax payments resulted in a stiffening of money which sent call funds as high per cent, as against an official Selling pressure in the stock ket originated largely with the ent, repeated in_uns mar- pro- ttacks of ing the general average of twenty leading industrial stocks to new low ground for the year. Rail and oil shares gave im- ve demonstrations of independ- rength. Heavy buying of the was predicated on the unusual- ly favorable character of most of the bruary earnings statements which | ppeared during the week, and specu. lative expectation of special dividend developments by several of the car- riers in the next few months. Improved trade conditions resulting from the further decrease in crude oil + production and the Steady increase in consumption were the dominant fac- tor in the purchase of the oils. Shares of companies with huge amounts of il in storage were particularly fa- vored. Steel shares held relatively steady on reports that production was being maintained at a high rate and pub- lication of estimates that the United States Steel Corporation’s net earn ings for the first quarter will total $55,000,000. Necessitous selling in the motor group appears to have sub- sided. Silk and chemical issues sold off in reflection of poor trade condi- tions. R — SPICES HAVE FIGURED PROMINENTLY IN HISTORY Alaric the Goth Asked Ransom of Pepper, Then Worth More Than Gold. From the New York World. The tantalizing flavor and piquant qualities of spices have made them sought after from the earliest days of mankind, and an adjunct to civili- zation at all periods. In the early days of history spices were worth fabulous sums owing to the difficulty of obtaining them and the high cost of transportation. When Alaric_the Goth conquered Rome in 410 A. D, he asked as a ran- “om 3,000 pounds of pepper, then worth more than its weight in gold. The first organization of dealers it is said, was the “fraternity of pep- perers,” and it was in the fourteenth century that the name was changed 10 the “guild of grocers,” which de- picted on its coat of arms. six cloves. Venice at its height traded in spices to the amount of $10,000,000 annually, wnd it vied with Portugal in securing argoes from far eastern ports. Col- umbus was bound for the spices of \ the east when he chanced upon a new continent and Vasco de Gama, the famous sea fighter, made one of his most important voyages to secure a cargo of pepper, cinnamon and ginger from India. The Dutch succeeded the Portugese in the supremacy of trade in spices, iater to have it snatched from them in the sixteenth century by the Eng- lish and Germans. SR WEAR HATS IN PARLIAMENT. ‘Women Members Shock by Break- ing 01d-Time Rule. From the Pathfinder. At a dinner given to the women members of parliament the speeches turned on parliamentary restrictions, which are irksome to the women. Lady Astor, who for & while was the only woman in parliament, told. of “hocking members one day by walk- ' ing through the corridors without her hat, and of being requested by an official “not to do it again.” She had always sat in the house of commons with her hat on, like the men, but unwillingly. Some of the new La- borite women defled traditions and took off their hats. Others soon fol- lowed suit, and many of the old, musty rules appeared in danger. The men seldom rebel. On enter- ing or leaving the chamber they al- ssues also | Adams Exp (8).. Alfr Reduct (4). Ajax Rubber Allled Cham ( Allis-Chalm (4) AIC&Dpt (7)., Am Agri Chem. .. Am Agri Chem pt Am Beet Sug (4). Am Benspf(l) Am Bosch. Am Can 16) . AmC&F (12) AmC&Fpf (7). Am Chain A (2). Am Express (8). Am.&¥.P.25% pd Am Hide & 1, pL.. Am Internatl. Am Locomo ( Am Metal (3 Am Saf R (50¢: Am Ship & Com.. Am 8m & Re (5). Am 5tl Fays (3). Am Sugar...... Am Bugar pt (1) Am Sumat Tob. .. Am T & Tel (9)... Am Tobac (12) .. Am Woolen (1).. Am Zine. ... | Am Zine pf | Anaconda. . Arn Cone & Co... Asso Dry G (5) .- stock market. | Az DG 18t pf (6) Asso Ol (1%) Atl Birm & At. At Gult & W Ipt, Atlantic Ref (4). Austin-Nichols d Loco (7). Bal & Ohio (5)... Bal & Oh pt (4).. Barnsdall B. Bayuk Cigar Bch Nut (2.40). | Beth Steel (5) | Booth Fisherie: Br'k Edison (8). Burns Br (10) But C & Z (50¢! Butte & Superior, Butterick Co..... Caddo CenO &R | Cal Pet (1%).... Callahan Z Lead. Can Pacifie (10). Cent Lea Co pt. Cer de Pas C ( Chand Mot () Ches & Ohio Chicago & Altoa.. Chic & Alton p! Chic & Bast 111 Chic Gt West pt.. | Ch Mil & St Paul. Ch Mii & St P pt.. Chi & Nwn (4).. Chic R I& Pac. CRI&PDI(6). Chile Cop (2%) .. Chino Copper. . CICC&StL (4) Cluett, Peab (8). Coca-Cola (1) Colo Fuel & Iron. Colo Southern. .. Col G & E (2.60). Col Carhon (41 Com Solv A (4).. Cuin Soiv 15 (a5 Congoleum ().« speculation | Consol Cigar in French francs, firmness being the | Con Cigars pf( Cont Can pt (7 Cont Motors. . Corn Prod (10)... Corn Pr R ow wi. Coeden Co. Crucible StI (4) .. Cnb Am Sug (3). Cuban Cane Sug. Cub Cane Supt. . | Danl Boone M(3) iason Chem.. Del L& W (6)... Det Bd Co (8) . .. Dome Mines (2). Dul SS & Atpf.. Du Ptde N (8)... Ei St Bat (15%) End-John (6).... Famous P1 (8)... Fifth Av B (64c) Fisk Rubber..... Flechm'n (13%). Freeport-Texas.. Gen Am T C (3). Gen ATC pf (7). Gen Asphalt..... Gen Asph pf (5). Gen Cigar (8)... Geo Elec (8).... Gen Mot (1.30).. Gen Mot db (6) ... Girebel Br pf (7). Glidden Co. G Goodrich. . Goodrich Dl (7) .- Goodyear pf. G'd’“r or pt (l) Gulf Mo & Nor... Gult St 8tl (8).. Hartman Co (4). Hayes Wh'l (3).. Housen'd Pr (3). Houston Oil. Hud Mot C (3 Hupp Mot C (1)« Indiahoma Ref. - Indian Motoroye. Indian Refining. . Ingpiration Cop. 1nterb Rap Tr.. Int Bus Ma (8).. Int Cement (4) .- Int Com Eng (3) Internat Har (5) Invincible Oil. ... Iron Prod (1%). ewel Tea. Jewel Tea pf. .. Jones Bros Tea.. Jordan Motor. Kan City Bn\llh.. Kayser Jul & Co.. Kelly Spr Tire. .. Kel Sp Tpt (8) .- Kelsey Wh'l (6) . Kenne Cop (3)... Keystone T & R.. Lee Rub & Tire.. Leh Val (3%). Leh Val rights . Lima Loco (4).. Loews Inc (2)., Lorillard (3). Louls & N'sh (I Mclntyre (1) Mack Trucka (6) Magma Copper... Man E1Sup (4).. slan Ele mad gtd.. Maracaibo Oil Mariand Oll. | Mart-Parry (3).. axwell Mot A... May Dpt 8t (5).. Mex Seaboard. Mex Seaboard Miami Cop (2) Missourl Pac pf.. Monteom Ward.. Moon Mot (3)..« ways bow to the speaker, as custom | Motner Lode (1) demands. They never carry a cane or overcoat on the floor, nor any Nash Mot (13%) 100% 100% 100% 99% 99% 99% books or papers not needed in the|Nash Mot pf (7). c\l.rren( business. Members speaking from the front bench muu not cross v the lines, which half swords long ago to prevent counters. — bloody - en- Nat Cloak & Suit Nat Dairy (3)... two and a| Nat Dept Stores.. lengths -un—dnwn NDS1stpf (7). Nat En & St Nat Lead (3). Nat Ry, M 2d pf... In Sweden one-third of the farm: NatSupply (3).. land power. is being worked by eleotrio| Nev Cons Coyp. . 1164 4% Open. High, 6% 76% 6% 5% 6% 6% 854 65% 424 424 110% 110% % 9% 26% 26% . 156% 156% 120% 1204 22! 23 92 b5 16 16 1121 112% 19 19% une 5% 110% 110% 15% 16% 57% 57 100% 100% 4% 4% 15% 16% 1b% 18% 1% 1% 240 28% 44 4% 143% 143% 89% 89% 41% l(ll!i 10‘% b&\a 30% 124 Fisher Bdy (10). 205%_ ™ 4% 9 40 213 214“ 101% 102 10 10 51 82% 39 94 80 30% 30 135% 1354 138 1% 1% 64% 64% 1% 138 12k THE EVENING STAR, WASHINGTON, D. C, SATURDAY, MARCH 29, 1924 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Oiice Open. High. Low. Close. 108% 108% 107% 107% 39 39 88% 384 Owens Bot (3).. PacG & E (8). Pere Marg (4).. Phila Co pf (3)... Pierce OIl pf. Pitts Coal (4) . Pitts Sti pf (7). Pitts & West Va Pitts Util pf 95¢.. | Postum Cer (4).. Press St C (4) Pure Ofl (1%)..- Ray Cons Cop Reading (4). Reuding rts. Read 2d pf (2). Remington Type. Rep Ir & Steel Reynoids Spr Rey Tub B (3) Roy D'teh (3. St Jos Lead (13) St L San Fran. St L Sothwest. Savage Arm: Schulte (§8). Sears Roe & Co.... Shell Un pf (8) Sinc Con Oll South Pac (6). .. Southern Ry (5). South Ry pt (5).. ) " StOUNJIpt (7). IXC“ Stew't War (10), Srcar (9% 0% Studebaker (10). 92% Submarine Boat % Superior Oll. Tenn C & Ch. | Texas Co (3 Tex Gulf S(8%). Texas & Pacific. . Tex & PaeC&O. Third Avenue. Tide Wat Ofl (4) Timken (3%). Tob Prod (8) Transcont Oll Twin City pf (7). Un Pacific (10) Utd Alloy St (3). | Utd Ry Invest. Utd Ry Invest pf.. uUSCcIP() U S Hoff Mach. U S Ind Alcohol 4| USR&Im (8) U S Rubber US R 1st pf (8) U Steel (1533 o 98 U S Steel pf (7) .. 119'» | Utah Securities.. 23% | variadium Corp.. 25% Va-CaroChem B. 1% V Vivaudou (2).. Wabash L A.... Wells Far (234 . West Penn pt (1) West E& M (4).. West E & Mrts.. Wheel & L Erie. . Wh Eag Oll (3).. White Mot (4)... Wickwire Sp Stl.. Willys-Overland. Willys-Over pt... Wiaconsin Cent. Wis Cen ctfs 10% 80 6% 361 824 26 sex Wright Aero (1), 10 10 10 Yellow Cab. 81% 8% Bk Bl% Youngst S&T (5). 65% 65% 65 65 referred stock. Di :‘r“l’l‘a’ I:‘(':l‘ as .llnfl ‘.& above table the annoa! cash payments based on the ut quarterly or M"'mfl' declarations, otherwise " noted, | exira or | 5poe fll"fl(flfll are not incl FAVORS BALTIMOHE PORT. nnpomnons of Cubm Pineapples Coming by That Boute. BALTIMORE, March 29 (Special).— Prattically all Cuban pineapples im- ported to the United States this spring and summer wiil be shipped throug® the port of Bailtimore, ac- cording to announcement by the Mun- son Slelmlhlr Company, which will handle the shipments. This will make Baltimore the largest importer of fruits on the east coast. FIRMNESS MARKS PRICES OF BONDS Fluctaatlons in Stocks and {555 Current Pessimism of Speculators Disregarded. BY GEORGE T, HUGHES. Special Dispatch to The Star, NEW YORK. March 29.—Sustained firmness characterized the bond market in the trading of the last day of the week. Fluctuations in stocks and the current pesstmism in speculative circles ‘were ignored, as has been the case all week. It is true that there was reaction in such issnes as the St. Paul 4s of 1925 and other junior obligations of that road, but this was to be expected from the rapid rise of these bonds. Nor is it surprising that high-grade investment 874 | ecurities should move without regard ::mam{x market sentiment., The im- ant point is that reasoffably good bonda yiclding around § per cent have readily taken all the week by Bnymn'ho apparently have no fear of on. This sort of buying continued muym U. 8. Bonds Start Recovery. United States government bonds, which had been reactionary the last few days in response to the firming up of money, showed some recovery {today. On ‘the week nearly all the issues are down fractionally with the Third 4% Libertys below par for the first in some time. High-grade rail- road mortgages were firm for the most part, On the week changes in this clags have been irregular. Among the strong points were Central of New Jersey s, which sold at prac- tically the high point of the_vear. Atchison General 4s. Union P ic first 4s, Reading General 4s, New York Central 3%s and bonds of that type have been steady. Illinois Cen- tral collateral 4s of 1953 sold at the high of the vear. In general, how- ever, changes in this group have been smail. St. Paul bonds have been the lead- ers among the speculative rails under excited trading. New highs for the year have been made by all of the active issues. even the general mort- Age 45 participating In the recovery. ho advance in the 4s of 1925 was un- doubtedly helped along by a certain amount of short covering, but the main {ncentive on the buying side has ibeen the noteworthy improvement in earninge. ) New Favorite Exploited. | A new favorite taken up late in the week was the Peoria and Eastern in- comes, which at one time had an ex- treme gain on the week of ten points. The subsequent reaction wax not greater than might have been ex- pected. Here buying was based on reports of a new offer to the bond {holders by the “Big Four" age- ment. Atlanta-Birmingham first ned more than four points on the week. This s a short-term issue, an lobligation of the Seaboard Air Line {System. which has been selling out of Tractions Irregul Tractions have been irregular. On the week all the Interborough bonds and notes show losses. On the other hand Third Avenue refunding 4s are higher. Brooklyn-Manhattan Transit 85 have about held their own. There were & number of weak points among the industrials, one of them, Wickwire |Spencer Steel 7s, at a new low for the vear. American Agricultural Chemical 7%s have also been very heavy. Foreign bonds have been quiet. That the investment market as a whole is in @ very strong position was evidenced by the quick sale of the new issues of the weck. The total new financing for the week was around $114,000,000. R gt o CHICAGO LIVE STOCK. CHICAGO, March 29 (United States Department of Agriculture).—Hogs— Receipts, 6,000 head; active; strong to 10 higher than yesterday's averages; heavy weight show most advance: bulk good and choice 160 to 225 pound averages. 7.45a7.50; top, 7.55: bulk de- sirable 250 to 300 pound butchers, 7.40 a7.50; bulk packing sows, 6.65a6.85; kiiling pigs steady: bulk good and choice strong weight, 6.25a6.75; esti- mated holdover. 4,500 Cattle — Receipts, 500 head: com- pared week ago beef steers and year- lings steady; top-weight steers, 12.1 highest on ‘this class for the year: best yearlings. 12.00; fat she atock strong to 25 higher; canners and cut ters weak; bulls, 15 to 25 lower: stockers and feeders steady: veal calves weak to 25 lower; week's bulk prices follow: Beef steers and yea ings, 8.00a10.25: fat she stock, 5.00 7.50; canners and cutters, 2.85a3.85; $.50a10.25; stockers and 6,000 head; fat . steady; compared week ago fat lambs, 15 to'25 higher; sheep around 25 higher; feeding and shearing lambs steady: top fat lambs for week, 16.65: bast shearing lambs, 16.00: choice shorn lambs, 14.50; bul prices follow: Fat lambs, 15.75a16.50; yearling wethers, 13.25a14.7 wethers, 10.50a12.00; ewes, 10. feeding lambs, 16.00a16.50; lambs, 13.76a14.50. U. S. TREASURY czi?mcnns (Quotations furnisbed by Redmond & Co.) all. clipped June 16, 1924........ 100 5. 1 2 The first full cargo of pineapples {4 | mzv vone BONDS oo mxemavea] . Received by Private Wire Direct te The Star Office. (Sales are in $1.008) UNITED STATES BONDS. (Fflclh’nl represent thirty - seconds. Example: 98-3 means !82) Be.z'l n-zs 99-14 99-141 Uhllll una e b3d 41 Llh 4th 4% US4ys1952.. 99-18 n—u]B 99-16 99-19 99-31 100 99-23 99-18 99-21 54 100-15 100-12 100-14 FOREIGN. Argentine 7s. . Argentine 65'37 Close. 101% 90 . Low. 101% Canada 58 1926. Canada b%s 1929. . Canada 5s 1931, ... Canada 5s 1952 il I enite e @ u:Enu-NNqaoum—noun Cl“hol!ov.kll Ss Danish Munic 8s A DutchEIb6%s... Dutch Bast 1 Cl'l'l Dutch East I 65°62. Finland s f 65 1945.. © walmabos French Govt 7% @ q Japaness ist 4145, Japanese 2d 4% Japanese 4s. . Japanese 6ls wi. Jergens U M 68 '47. Rio de Jan s 1947. Rio Gr Do Sao Paule City 8s. Seine Dept of 78 Serbs Crotes Slo 8s Soissons 6s. Sweden 6: Zurich §s MIECELLAN!DUt Am Agr Chem 55.. 22 Am Agr Chem 733 44 Am Chain s f 6s'33. 12 Am Cotton Oil r {AmT&Teltrd |AmT & Tdeb s | Am Wat onda evdb 7s 10 Anlmndl 1st 6s. Armour & Co 4 %8 Armour of Del 5%e Assoclated Oil 6s. . Barnsdallsf8s... Bell Tel Pa5s..... | Beth Steel rf bs... Beth Steel pm 5s.. Beth Steel s f 6s... Brier H St 1st 548 Bklyn Edison 7s D | Calif Pete 6%s. Central Leather §8 u;hn—wra-tmw‘v— Col Gas & El | Commonwth P | Con Coal Md 15t Consumers Pow Cuba Cane cv d 83, Det Edison ref 6s. Du Pont de N 7%4s. Dugquesne Light és Est Cuba Sug T%s. Empire G&F T%s. Fisk Rubber 8s.... | Gen Elec deb 58 Goodrich 6% Goodyear 85 1931.. Goodyear 8s 1941. Hershey 6s 1942 Humble O&R 5%s. | lilinols Bell 1st 5s. | Int Mer Marine €s. KCP&Lt5sAG2. Kelly-Spring 8s. Lackaws 8 bs Liggett & Myrs Magma Cop cv 7 Manati Sug of 7 Marland Oil 7% Mexican Petrol fi Montana Pow: Morris&Co 18t New Eng Tel 58 N Y Eusn 1st 6%s NYG EL H&P 5s. N Y Tel 6 N Y Tel 6 NYTel 4%s... North Am Ed és Nor Ohio T&L 6s. Nor States Pow Ss. Nor States Pow orthwst B Tel 7s. 17 ™ o= Pierce-Arrew # | Gr Trunk sf ab 6s.. will arrive here from Havana about |4 April 20. 4 More than twenty full cargoes of | 4 pineapples are expected during the |4 spring and early summer. The first two or three weeks there will be one |4 cargo & week. Then the shipments |4s loou's -16 1013-18 | Sharon Stl H § 101 1532 m na: 101132 101 100 %532 mber Maren 15, ozs will be increased. For many years the pineapple traf- fic has been moving from Cuba to Key West and other gulf ports for transshipment throughout the United States. However, realizing the rail facilities in Baltimore and its central location, the fruit importers decided that this port furnished the best pos- sible terminal. Gt BOSTON STOCK MARKET. BOSTON, March 29.—Following is a list of today's highest, lowest and clos- ing prices for the most active stocks dealt in here: Close. 5 138 [ 72! ul it 42 15! 21 = SEIREL 2 i FE FREFEFRE FRER G808, B (e H 8!25....’,. b sBuENeRanad, B2 szl From the Birmingham Age-Herald. “The sinoerity of this campaign orator impresses me.'” "u would mgl\- you etill more if know." : CHICAGO GRAIN MARKET. storms and predicted lower tempera- ture led to a gemeral advanoce in grain prlces today as soon as busi- ness Dbeg: Previo! of wheat furned to the with offerings easily ensued. wheat values, however, ascribed to the northwest, became hnfltr l.lld broy hL lbout nmlpl;‘hlng whlr_h ur(ad from ghobange gher; My, 1. Ay Jaty 102% {o 1.02%, were foi- lowed by material gains all around and then by a recession. Nervousness among corn traders was apparent, and rapid fluctuations were the rule. Sudden reversal of sition on the part of bears wa eature, a8 in wheat After opemnx ng-* to 1% hégher, May 75% to *. tional upturns before be‘lnnln‘ to started to % higher, May to 44%, ud later continued firm. valion- lacked support, despite an advance in hog values. e TR CHICAGO STOCK MARKET. CHICAGO, March 29.—Following is a report of today's sales, high, luv and closing_ quotations at the Chicago Stock Exochange: i:!:siflfiEx:e.Edas EEFPLEE H 5 Youngstn S & T 8% | are a mitlion itk Producers & Rf Punta Alegre Sin Crude Oil 5%s. Sin Crude Oil 6s... 8in Pipe Jgne b8 South Bi ok BT T B~ e - e A e B e e L e ) Ty Y Tide Wat Oil 6%s. Toledo Edn 18t 7s.. Union Bag & P 6a. Unit Drug cv 88 RAILROADS. Bales. High. Low. Close. 10 87% 87 8% 87% 81% 8T% 84% 84% 84% 101% 101% 101% | 8% 87% 8T%: 864 861 E6K 82 Bl% 8l% 8% 6% T6% 1124 112% 112% 2 lll 1z m 93% 7% 85% 93% 1% 884 Atchlson gen 4 Atlantic C L 1st 4 O gold 4 18 68 32 Bklyn-Manhat Canadian North 7s Canad North 6% Canad Pac deb Car Clinch & O Car Clinch & O 6s. Central Pacific 4s. Ches & Ohlv ey 98% 1% 86% 3% 91% Chi Great West CM & Puget 54 4s. ChiM & StPrf 4% 18 Ch:M & St Pcv 6s. 44 ChiM & St R 45 °26.148 Chi M&ES P cv 4%8. 54 Chi M&ST P 48’3 CM&StPdb ChiM & St P és. ChiRI& Pacrt CCC&SEL rf 68 Cleve Term 6% Cleve Term b: Colo & Sou 4%s Cuba RR 6s. Del & Hd st rf Del & Hudson 5%!. Den & Rio G en 4 D & Rio G imp D&RGstrt Erie 1st cou 4 Eris con ext 7 Erie gen 4 Erle conv4sD. cmmmale oy AR NoR @B =0 Rar Gr North gen 78 Gr North gen5%s. . Havana ERL&P 53 Hud & Man ref 5s. . Hud & Man a) 5s. 111 Cent ref 58 ‘65 11l Central 6% Int Rap 1ran §s. Int Rap Tr bs stpd. fl Int Rap Trani Int Rap Tran Int & G Nor aj 68 Int & G Nor 1st 6s. 130 Towa Centrf és... 18 —t »Raa Louis & N o5 B Manhat Ry cn 4 Mo Pacific 8s. Mo Pacific gn 4 Montrl Tm 1st 58 N Y Cent gen 3% { Y Ry rf ds ctfs... Norfolk & W cn ds. 1 Norfolk & W cv €s. 1 Ore & Calif 1st 5s.. Ore-Wash 1st rf ds. Pennsyl gen 4%s Penusyl 6%s. Pennsyl gold 7s. Pennsyl con 4%s. Peoria & E inc 4s.. Pere Marq 13t 5 Reading gen 4s. Reading gn 4%swl StL&SFpldsA.. StL&S F inc 6 StL&SFs%D. StL&SFadiés... StL&SFplésC.. St LS W con 4533, Sou Pacific clt Southern Ry 1st bs. Southern Ry gn 4s. 20 Southern Ry 6%s.. 4 Southern Ry 6sct. 32 Third Averef4s... 4 Third Aveadjfis... 1 Union Pac 1st 4s... Union Pac 15t rf s Union Pacific cv 6s. 3 Union Pac 1st rf 58 10 Virginia Ry 1st 5s. 4 ‘Wabash 1st 5 2 Western Md 4s 45% 45 90% 90% 90% R21, R2y 82% 1027 1027 102% 100% 100% 100% 44 % 94% 98 98 61 61% 84% B4% 80% BO% 59t 59% 457 Whel & LETT 4% —— WALL STREET BRIEFS. By the Associated Press. Although the United States Steei Corporation earned more than $16 & share on its common stock in 1923, | Wall street statisticians have figured that the actual earnings of ty investment of more than 32, 000 was less than 7 per cent inge on capital and surplus of the in- dependent steel companies vary from 393 per cent in the case of Beth- lehem. to 10.08 per cent for _the Youngstown Sheet and Tube Com- pany. February railroad earnings contin- ue to show marked improvement, the Penneylvania railroad reporting net income of $6,332,228 against $3,120,- 753 in February, 1923, and Chicago, Indianapqlis and Louisville, surplus after chhrges of $110,377 against $6,501 the same month a year ago. Canadian Pacific reports = February net of $1,077,850 against $495,494 last ear. Central iroad of New Jer- however, showed a decline with $57,939 against $236,786 in February, 1923, ‘While foreign shipments of gold to this center are resulting in a steady increase in the gold holdings of the local Federal Reserve Bank, virtually all of the domestic production of gold is being used in_commercial enter- prises. During February jewelers took $5,000,000 in gold from the New York assay office, one of the highest takings in many months. Vertientes Sug ‘a-Car Chem 7. waunnm- K kwire Spen wuun & Co 1st 63 ‘Winchester A 7%s. PO TR TP TP T3 e e ! BRIEF BUSINESS NOTES. ATLANTA, March 29 (Spgcial).— Building operations here are contin- FOREIGN EXCHANGE, (Quotations furnished by W. B. Hibde & Co.) Nominal Selling checks, gold value, today. uing at the rate of $20.000,000 an- |Copenb nually, although there is strong re- sistance manifest to high prices of materials, which average about 10 per cent above those of last year. Labor supply is about equal to de- ‘mand. PHILADELPHIA, March 20 (S e clal).—Seventy-nine banks in 13 district report an increase in n\lnn deposits of three-tenths of 1 per cent in the last month. The only city in this federal reserve district to Stockholm, crows. By the Aseociated Press. NEW YORK, March 2! exchanges irregu Quot: United States dollars demand, 4.29 11-16; cabl sixty-day bills on bank France, demand, .| .05483. Italy, demand, . 3 bles, .043434. Belgium, demand, .0429; cables, .043. German i’ demand (per trillion), .22, Holland, demand, show a decrease was Trenton. ST. LOUIS, March 29 (Special).— Contracts for three million dollars worth of new street paving were awarded this week. —_———————— For cach big man at the top there men at the bot- tom. f A .3695%. Norway, demand, .1355. swe- den, aamd .2642. Denmark, de- mand, .1603. Switseriand, demand, .1738. ‘Spain, demand, .136. Greece, de- mand,.171; Poland, demand, .00000012. Czechoslovakia, demand, .0289. Jugo- slavia, demand, .0123%. Austria, de- mand, .000014%. Rumania, demand .052%. Argentina, demand, .335. Br: zil, ll!fi. Tokio, demun; A7%. Montreal, .9 B5% 6% | FINANCIAL. COTTON MARKETS. NEW YOEE, closed stead; High, May .. . 2191 285 Opening; May. 27.80027.85; Ju 75; Dc fober, 24.25024.40; December, 24. i January, NEW OILEANS, March 29—The cotton market opened decidedly high- er with active trading. First trans- actlons showed gains of 25 to 50 points and immediately after the opening cail May traded up to 28.00, July, 26.80 and October, 23.71, or 50 to 66 points above the previous close. “i Considerable rain in the west, accom- panied by reports of destructive tor- nadoes and a storm warning for the east gulf coast were the stimulants. While the market fluctuated some in the early trading the trend continued bullish. LIVERPOOL, March Spot dull, prices stead dling, 17.49; fully 5 2 middling, 16.59; low middling, 15.74; £o0od ordinary, 14.74; ordinary, 14.24: sales, 3,000 bales, including 1,800 American: receipts, 2,000 bales, in- cluding 100 American. Futures ciosed very steady; March, 16.62; May, 16.47; July, 16.00; October, 14.33; December, 13.95; January, 13.81. ————— GRAIN AND PROVISIONS. BALTIMORE, Md, March 29 (Spe- cial).—Potatoes, white, per 100 lbe, per 150 1bs., 1.40a2.75; sweets and yams, 2. 0 gsparagus, doz- on, T.00a8.50; Deans, by - 5.0086.50% beets, basket, 2.25a2.50; broccali and kale bu, :'Ulug cuhanuue, per 100, 4.00 6. v, bi, 50al 4.0026.00; caulifigwer, rraf:r;un;;izjsog. celery, crate, 3.5024.00; cucumbers, crate, 8.00a10.00; eggplants, crate, 3.00 5.00; horseradish, bu., 2.50a4.00; let- .00; onions, per 100 oysterplants, 100, 6.00a Oranges. box, 2.00a2. { Slm'berrln! quart, 50a70. !(atllll‘ Prices on Graia. Wheat—No. 2 red winter, spot, 1.06; No. 2 red winter, garlioky, spot, do. mestic, 1.07; exports, no quotations. No. 4 or No. 3 red winter, garlicky, 8pot, no_quotations. No sales. Corn—Cob, new. 4.25a4.30 per bar- rel for yvellow and 4.10a4.15 per bar- rel for white; No. 2 corn, spot, 86%; No. 3 corn, spot, !.u{-, track’ corn, yellow, No. 3, new, 88a$ ' No sales. ous—m 2 white, 56 asked: 2 white, new, 54 aske Rye_Nearty, o No. rye, Hi y—Recelnl! 124 tons. For timothy and white clover m«m‘;'?.fi strictly No. 1 clover, fair demand at quotations; low-grade hay plentiful and difficult to move, causing a sharp discount. Quotlllons 28.00 per ton: No. 2 : No. 1 clover, mixed, clover, 26.00a27.00. straight rye, 24.00a 1 tangled rye, 18.00a , 18.00a18.50; No. 1 oats, 17.00a18.00. A reduction of § to 10 cents a barrel on western grade of hard winter patent and hard winter straigh announced today. e NEW YORK DATRY PRICES. NEW YORK, March 29.—1 er—1 settled; receipts, 14,481 ml?tt(}eltl;:- ery, higher than' extras, 41%afs: creamery, extras (92 score), 40%adl: greamery, firsts (88a%1 score), 38%a Eggs—Receipts, 27,724 cases. Eathered, firsts, Fegalar packed. $on %: do., storage packed, 24a25: do., seconds and poorer, 22af2i; Pacific cosat whites, extras, 3215a35. Cheese—Irregular; receipts, 143,995 pounds. e NEW YORK BANKS. NEW YORK, March 29.—The actual condition of clearing house banks and trust companies for the week fhow an exoess in reserve of 325, 057 s L is an increase of PERMIT FOR PHONE DEAL The Interstate Commerce Commfs- sion today granted the Ohio Tele- phone Company authority to acquire the Upper Sandusky Telephone Com- pany SUGAB FUT URES STEADY. NEW YORK, March 29.—Sugar fu- tures closed ' steady: saies. 11,000 tons. May, 5.08; July, September, 5.1 ¥ December, 4.63. | WHY MEN WEAR SILK. Fred Kelly, in the Nation's Business. We hear much about vanity in the well known feminine sex, but there seems to be no limit of idiocy to which men folk will not go in their effort to extend their personalities, as the new psychologists might put it, by means of costly garb. Shirts at 350 each in certain establishments have become too commonplace to ele- vate a single eyebrow. Perhaps the only reason men do not dress more gaudily than women ix because they lack the courage of their desires and are too vain to admit their own sar- torial weaknesses. In a Turkish bath recently T got into conversation with a man wearing a silk union suit. I always try to scrape up acquaintance with a man wearing silk underwear under such circumstances for the purpose of sat- isfying my curiosity. It is interest- ing to learn if he is by any chance truthful. Thus far 1 have never ! found a man who didn't insist that he wears silk underwear solely be- cause of its comfort. The last man I asked warmed to his subject and grew enthusiastic as he explained how much cooler silk is in summer than any other fabric. Aside from the fact that this isn't true, since silk is not as cool as cot- ton, ane might guess after seeing and chatting with this man just why he wore silk. He liked the idea of being clad expensively. Already Owed Money. Trom the Los Angeles Times. “T'd like some nice perfume,” she told the clerk and pointing to a bot- tle marked $8 an ounce, asked for a sample of it, and the clerk gladly ac- commodated her as she looked like a good customer. “Why, that's really very nice! ex- claimed the girl after a good deep whiff. “Please let me have & quar- ter's worth.’ ‘But, madam,” protested the clerk in astonishment, “you already have had & quarter’s worth.” A Vivacious, Engine. From the Milwaukee Journal. An engineer was giving evidence in a case in which a flrmer ‘WaAS Suing & railway company for damages Mltlnl from the death of, oo wioh 1t e into by a train. o farmers lawyer was heckling the engineer, and kept reverting to his pet question, which was: “Now tell me, was the cow on the track 2" At last the engineer became angry and answered the question : “Well, If you want me to tell the real truth, the cow was bathing in_the stream the other side of the track. But the en- Eine saw her, leaped off the rails, dashed over the bank and, landing right on top of the cow, strangled her to death with- out & word —_— Origin of “Fiasco.” spolled i he was blowing there was nothing left for him to do with the material but to make a common flask or bottle of it; so his intended work of art becams & o A 12 = 2 T OIS 5| INLOCAL EXCHANGE Activity of Issues Marked Feature—Federal-American Bank Declares Dividend. Trading on the Washington Stock Exchange was concluded this morn- ing with the most interesting ses- sion of the week. Interest was equally divided between praferred stock of the Washington Railway and Electric Company and the National Mortgage and Investment Company) the price level remaining unchanged. The former sold to the extent of 460 shares at prices ranging downward from 72% to 72%, with 350 shares of the latter changing hands at 8%. A new low was created by Conti- nental Trust Company stock when five shares changed hands at 85, or 1 point under the previous close. Cavo- ital Traction stock was slightiv easfer at 94, while the bonds of th's company were a quarter higher at &7 Bank Deelares Dividend. Directors of the Federal-American National Bank have declared their regular quarterly dividend of 2% per cent, payable on April 1 to stock- holders of record March 28. The total disbursement will amount to 330,000, the institution being cap- italized at 31,200,000, 80.8 per cent, unchanged from last week, but a gain of 5.3 points com- pared with a vyear ago. Only thres banks, New York, Chicago and Minne- apolis, show lower ratios than last week the remainder being higher. Record of Fallures in U, In contrast to last week's trend, fa: ures in the United States increased in number this week, totaling 412. This is twenty-four more than last week's number and is fifty-six more than the 356 defaults reported a year ago. All of the increase this week over last oo- curred in the east and in the west, thers being a small decrease in the south and no change at all on the Pacific coast The increase in the cast was sixteen and in the west fourteen. Of this week's failures, 242 had liabilities of $5,000 or more in eacn case, which is equivalent to 58.7 per cent’ of the total number. below last week's ratio of 58.3 per cent of such defauits, but is above the ratio of 56.7 per cent of a year ago. Velume of Bank Clearings. A very large volume of bank clear- ings is again shown this week, lead ing cities of the United States report- ing a total of $7,345,741,000. Thix amount s larger by 11.2 per oent than that of a vear ago and exceeds by 24.1 per cent the figures for this period of 1922. Of this week'mclear- Ings, outside centers suppiied $2,683.- 741,000, or 4.7 per cent more than the aggregate for this week of last year, and 33.4 per cent more than that of 1922, Washington Stock Exchange. SALES. Capital Traction Co.—$500 at 97. $500 at 97 Washington Rwy. & Elec. pfd.—100 at 72% 0 at 724, 30 at T2%. 100 at 72%, 10 at 724, 100 at 72%, 10 at T2%, tinental Trust Co, 3 at 8 Natonal Mortgage a3 50 at 0 50ae 5%, 50 AFTER CALL. Capital Traction Co—3 at 94, 10 at 94 Washington Rwy. & Elec. pfd.—10 at 72i 10 at 2%, 20 at 2K. Bid and Asked Prices. BONDS. PUBLIO UTILITIES. American Tel, & Telza. 4 American Tel. & Telgs. 4 Am, Tel. & Tel. cul. tr. approximate | W D. C. Paper Mfg. 6a.... Rigrs Realty 3o (long). B ealty 58 wm Masket Cold Sto Second ... ... 3 National Baok of Washington.. * TRUST COMPAN | Ameriean security & Trust.. Continental Trus Merchants' Bank.. National Savinge & Trust. Union Trust | Wash. Loan & Trast... | SAVINGS BANK. Commerce & Savings. Fast Washington. . Security Sav. & Com.. Oolumbia_Title.. Real Estate Title. u..S o Tfl':tl" & rgen Detype. . X (hler. Tavest. pfd 0l Dytch Market com. 0ld Duteh Market pfd.. Lanston Monotype. (Quotations furnisbed by Redmond & Co.) —Close.— Co. of Amor. Ts 1925. Alomine Co: of Amer. 7a 1 o8 5 1 Leather s C;""’ & 8t rm e hl'.