Evening Star Newspaper, April 12, 1924, Page 14

'___14 2 X FIN ANCIAD, STOCKS ARE DRIVEN BY HEAVY SELLING Pressure Concentrated on Motors | and Other Active Issues in List. INDUSTRIALS SHOW GAINS Initial Bulge Yields to Renewal of Short Covering. ¥ the Associated Press. W YORK, April Heavy seli- ing of Studebaker. which was driven down 5% points to a new year's low at 84, unsettled today's stock market after an early period of moderate strength. in which a number of pop- ular issues had moved up 1 to points Selitng pressure was concent on the motors, new lows also being established by Chandler, Yellow Cab @nd Chicago Yellow ( the last- named breaking 4 po Special weakn in Baldwin, Cuba American itial bulge apparently was due to an extension of yesterdayx's late short covering, temporar smpietion of which was followed by a renewal of short selling_on the oper The clo Sules upproxi also cropped out ne preferred and Sugar pr part of ing w Fraction Gains in Industrials. ying orders were W the list. but the d industrials were 1 to and du suins in o j i icluded ainst that exchang: openia WALL STREET BRIEFS. By the Associated Press ring of bankers shares rep- stocks of the leading s operating in Detroit, Cleveland, Milwaukee and soon will be made simu New York and London. company for the shares a4 deposited the bank Tidison York. mpan; Chicago st. Louis to be inld e ill be listed on_the New xeha and offered for ription syndicate. and R icit of $525- ng for pre- source for ompared Prod repor after provic depreciation @ with a deficit hefor Ne year n1 Produc- ies from Inco; ers’ A oil_and Dividends 41 shar par val of 24 3 new Bradford ofl st . were paid k. ncial d the ( 1 adju & hears that d Motors Co! t the capit new 1 dividend basis rectors of poration plan to structur stock on 6 and excl each four present issue nn of the old. The £ 20,000.000 shares was found unwieldy would reduce outstanding to about the quantity s Steel Corpora- dividend rate is exchange the official execut| ders at the Iready has ken the edge off trading after normal hours. Al- though ro restrictions had placed on mber of hours which bu 3 may be transacted. a distinet slackening of activity is re- ported in the “twilight” trading. Having discounted unfilled stecl tonnage stock market nos of the first quarte United States Steel late this mc representing past busine expected to be an importan factor. but ined with th statement by conditions the decline in figures alone, ent businesa situation. rnings of the Bethlehen Steel compant, « o will with interast Crude Rubber quarter ¢ against 8 . the 71,126 tons, same period o sociation reports, by 333 in the rubber roceived Orders 3 Company Bleetric months ending 487,903, Gerard nounced today. of 8 of 1 010.0: the for the three arch 31 total $73,- president. an- This is a decrease per cent over the first quarter when orders totaled $80,- FORMER CASHIER TAKEN. Alleged Embezzler of $14,000 Tells 1 distributed | - | Brk-Man Tran down | { Chi Yellow Cab government | common | rging one share of new for | been | in | Wall | General | { Lorillard (3). AJax Rubber. ... Allled Chem (4). Am Agri Chem. .. Am Agri Chem pt Am Beet Sug (4). Am Bosch, Am Cap 18) . AmC&F (12). Am Chain A (2). | Am Drug Syna. | Am Hide & L ot { Am Internatl!... | Am Locomo (8. { Am Metal (3)... | Am Radiator (4) 99 | Am Roll M pt 7). 101 Am Ship & Com.. 12% AmSm& Re (3) 59% Am Stl Filys (3). 854 Am Sugar...... 46 | Am Sugarpf (1) 934 | Am Sumat Tob... 124 {AmT & Tel (9).. 1 {Am Tob B (12).. 136 6 65% 9% 26% 39% “ 1 Am Tobac (12).. 140 Am Water Wka. . Am W Wpr (4). | Am W W 1st (1) Am Woolen (7). Am Wool pt (7). Am Zinc pf. Anaconda. | Asso Dry G (5)... | Asso Ot (114 | AtT&S Fe (5. | At Birm & At. .. AtCoastL (7).. | AtGuite WIpt. Atlas Tack | Austin-Nichols. Bald Loco (7) "um & Ohlo (5) | Barnedalt A Heth Steel (5). Beth Sti pf (1) 51 914 68 1004 27 32% oy 0% 9o 2% 118 16 4 164 - B9% . 107% 244 15% B2's ! Brk-Man Tr p Burns Br (10) Burns Br B (2) .. | Butte & Superler. | Cal Packing (8). Cal Fet (1%).. . 24% llahan Z Lead. 4's | Can Pacific (10). 145 Cont Lea Copf. .. 405 |CerdePasC (4. 44is i Chand Mot (6).. 46% | Ches & Ohio (4). T | Chic & AltonpZ.. 10 | Chic & East 11l 23 : Ch Mil & St Faul. Ch Mil & St P pt.. | Chi & Nwn (9., | Ch PneuT (5) | Chiz R1 & Pac. 140 274 Slis 84 24% 60 263 667 Chite Cop (2%) . | Coca-Cola (7) Colo Fuel & Iroa. Colo Southern. .. | ColG & 12 (2.60). Col Carbon (4) ... Com In Tr pf (7). Com Solv B (4).. | Congoleum (3 .. | Con Cigars pf(7 | Consol Gas (&) | Consol Textiis. | Cont Can (4) Cont Motors. . Corn Prod (10)... ! Corn Pr Rnw wi. | Cosden Co > | Crucible Stt (4) . | Cnb Am Sug (3). | Cu Am Su pf (7). Cuban Cane Sug. | Cub Cane Supt.. | Dan!Boone M(3) | bavidson Chem.. Del L& W (6) Det Ed Co (8). Du Ptde N (8) EastK (15%) Faton Ax (2.60). Ei St Bat (15%) End-Jokn (5) - Erle Irie 18t DL Zrie 24 pf. Famous P1 (8)... 67% | Fifth Av B (64c) 11% Fish BO pf (8).. 100 Fl'chm'n (13%). 48 Freeport-Texas.. 8% 37% 212 W 145 34 50 53 A215 9614 15% 293 Gen Mot (1.20).. Gen Mot db (8) Gtlidden Co. Gold Dust w. Goldwyn Pict Goodrich. Gianby C Gt North pf (6).. | Gr Nor Ore (3)... Gr Canan Coj 1 Gult St st (3) i Hayes Wh'l (3).. Homestake (6).. Houxton Oil. . bud Mot C (3) Hupp Mot C (1) Inger R (128)... Inland Stl (23§). Inspiration Cop. Interd Rap Tr... Internat Ag new. | int Cement (4)... iut Com Hog (2) internat Har (5) o Int Mer Mar pf... 30% Internat Nickel 127% | (nt Pap pt st (6) 657 Invincible Oil 15 | Jones Bros Tea.. 20% | Kan City Soutn.. 19% Kayser Jul & Co.. 2i% Kelly Spr Tire. 14% | Kenne Cop (3)... 36k | LaciedeGas (7). 931 Leh Val (3%)... 41! Leh Val rights . 25% { Lima Loco (4) 59 | LoewsInc (2)... 16% 35% | Mack Trucks (6) 80% | Man E1Sup (4).. 37% 38 508 & 131 199% 33% 25 3% a1% 2; 85% | Man Elec gtd (4) 1 Mkt St Ry pr pf. | Mariand Ofl. .. of Broadway Splurge. | Mart-Parry (3).. W YORK, April 12.—George Lis- former cishier of the American Iway Express, at Sausalito, Calif., who alleged (o have absconded with $14,000 of the company's funds, last night was arrested by New York ives as a fugitive from justice. ter. police said, admitted having spent $9.000 on Broadway within the t two weeks. They said he was way to the cxpress company's office here to give himself up when e was arrested, having borrowed carfare to get there. The police said he told themi that he had given away $100 bills to Broad- way cabaret singers, waiters and doormen “to make them happy N. Y. Stock and Bond Averages. April 11 STOCKS. stock sades, Total shares. Twenty industrials 92.33; net gain, .69. High, 1924, 101.24; Twenty railroads $1.83: net gain, .58. High, 1924, 86. BONDS. Total bond sales (par value), $9.844,000. Ten first grade rails averaged 86.55; net loss, .15, Ten seconcary rails averaged $4.77; net unchanged. Ten public utilities averaged 87.76; net loss, .10, Ten industrials averaged 93.33; net loss, .05. Combined average, 83.10; net loss, .08. Combined average month ago, $7.42; year ago, $6.40. 1,006,500 averaged low, 91.64. averaged low, 81 Maxwell Mot A. Maxwell Mot B. May Dpt St (5) Metro Ed pf (7 41% 11% 86 901 191e 18% 21% 4% 1% 82 13 al% 245 21% 101% Miami Cop (2)... Middle St Oil Mis Kan & Tex. Mis K & Tex pf. Missouri Pacific.. Missouri Pac pt. Montzom Ward.. Moon Mot (3)... Nash Mot (6) . Nat Dairy (3)... 803% Nat Dept Stores.. 28% Nat Lead (8).... 130 NatRy,M2dpf.. 1% Nev Cons Cop..., 13 NOrT&M (7). 117% NYABrA (). 49 N ¥ Central (7). 100% N ¥ C-Readg rts. N Y Dock..... NY NH & Hart.. N Y Ont & West.. Norf & W (18) ... 128% North Amer (2). 23 North Pac (6)... 52 Nunnally Co..... 7 Orpheum pf (8).. 9i% Otix Elevat (8).. 150 | Otis Steel....... 8 PacG&E (3)... Pacific Ol (3)... Packard (1.20).. Pan Amer (4)... Pan Amer B (4). Panhan Pr & Re. Penn Rallrd (3, Penn Seab Steel Pere Marq (4) Pere Mar pf (5). Phila Co pf (3). Phila & R&1I.... Phillips Pet ( Pitts Ut pf 1.65 Pitts & West V: Press St1C (4) ... Prod & Refiners.. 301 PobSer NJ (4).. 42!% Pullman Co (8).. 115% Punta Al Su ( 59% Pure Oll (1%)... 28% 424% 38% 40% 12% 48 43%. Open. High. 6 85% 914 26% 394 2414 99% 154% 23% €0% . . THE EVENING STAR. WASHINGTON, D. C. SATURDAY, FOREIGN BONDS HELD [o¥ NEW YORK BONDS srocx zxcuAncEI OLD CROP STRENGTH Loyw. Close. ! 6 65% 9 25% 59 24 9784 54% 23 47 541% 191, 2% 414 985, 101 6 65% 9 26% 59 24 97% 154% | Ray Cons Cop. | Sears Roe & Co. | Tex THE EVENING STAR, WASHINGTON NEW YORK STOCK EXCHANGE Received by Private Wire Divect to The Star Office . Open. High. 10 b4 174% Low. Close. 9% 10 b63% 8% 17 17 39 29 8% 46 18 63 23% 20° 444 16% 100 20 84 Reading (4) Reading rts. Remington Type. Replogle Stee) Rep Ir & Steel Reynoids Spr (2) Rey Tob B (3).. St Jos Lead (12) L San Frag L-San Frpt. vage Arms. Schulte (§8) Seab'd Air Lpf.. neca Coppar. Shell Tn Ol (1) Simmons Co (1) Sine Con Oil (2). Skelly Oil. A Sloss-Sheff (6).. So P Rico Su () South Pac (§)... Southern Ry (5). South Ry pf (5) Spicer Mfg. | Spicer Mt pf (8) . Stand Mill (5) . | StOil Cal (2).... StONNJ (1).... Stew't War (10). Stromberg C (8). Studebuker (10) Studebaker wi.. Sabmarine Boat Superior OIl. . Sweets Co of Am. Tenn C & Ch..... Texas Co (3) Tex Gulf (6%).. s & Pacific. . Tex & J'ac C& 0. Timken (3%). Tob Prod (8). Tob Prod A (7). Transcont Oil, Un Pacific (10) .. | | Un Pac pf (4) Utd Fruit (10) . U S Cast Iron F U S Distributing U S Ind Alcohol.. U S Rubber. . US P 1st pf (8) melting. ... USSteel (15%). U S Steel pt (7). tah Securities. Vanadium Corp. Va-Caro Ch pf. Vivaudou (2). Wabash. . . Wabash pf A Wald Sys (13%) West Maryland... Western Pacific. . West Pac pf (6). West Un Tel (7). West Alr Br (6). West L& M (4). West IS & M res., Wheel & L Erie. . Wheel & L Er pt. Wh Eag Oil (2). White Mot (4)... Wickwire Sp St! Willys-Overland. Willys-Over pf.... Woolworth (8).. 6| 2% 3154 | 9615 | 3% | 5834 | 42% 11 103 | 120% | 1081 15t 6% | 57 | 244 0 a3 | 67 | 1% 100 | 4T% | 8% | a5 | 210 | 1% | 144 13% | 20| 1 ! 664 | 88 | 50% 68% | 3% | 1342 | { change rat 4 | 5% | 22 a% | 4% 8| i { ! 1028 | 308 | 1% | 16 | 49% | 1008 | 28 | 24% | 18% | 16% | 127% | 23 52 7.t 94 | 150 | 815 92% | 50% 10% A% 45% 3 44 2 41% 603 42Y% 884 893, 121 43% 48 28% 424 Wholworth witd) Worthing Fump.. Wright Aero (1). Yglow Cab (3 iPartly extra. _§Ra. dend rates A3 & ihe annual cash payments based on atest quarterly or balf-yearly declaratios Tnoless otherwise noted, exira or spevia. ividends are not ineluded. D! I e STOCKS PAST WEEK - DROP TO NEW LOWS Large Volume of Professional Short Selling Based on Indications of Slack Business. s the Associated Phess NEW YORK. April Stock prices crumbled to new low ground this weel under the weight of a large volume of professional short selling, pparently based on increasing indi- | cations of a slackening in business activity. All the standard industrials broke through their previous bottom prices. but the selling pressure was most effective in the motors and inde- pendent steels. Publication of the Dawes report. while regarded as one of the most im- portant economic developments since the war, failed to have any influ- ence as an immediate stock market factor, although it had a temporarily stiffening _effect on the foreign ex- Trade news on which the bear at- tacks were founded included a reduc- tion of slightly more than tons in the unfilled orders of the United States Steel Corporation, a drop of more than 25.000 cars in the oadings for tife week ended March 29 as compared with & Year ago, re- ports of further curtailment in the automobile industry and the relaxing | | tendency of commodity prices. United States steel common, which soid above par last week. dropped to{ below 96. Baldwin, Studebaker, American Can and duPont were among the several score other issues to sell at new lo prices - for the year, American Sugar Refining selling at the lowest price in its_history. | Woolworth broke more than 50 points from its recent high following the announcement of the new recapitali- | zation plan and the proposed declara- | | tion of a dividend equivalent to $12| on_the present stock. : Oils held relatively steady in re- flection of the improved statistical position of. the industry. Railroads also offered stubborn ré- | sistance to selling pressure. special buying movements developing _in Western Pacific and Texas and Pa- cific, Both of which reached new peak | priges for the year. Chief interest in the bond market centered_in the ready absorption of the New York state bonus iscue. Prices of listed bonds were rather irregular, with the main price tendency downward. R. R. FORECLOSURE SALE. Colorado, Wyoming and Eastern, | 112 Miles Long, Brings $201,000. LARAMIE, Wyo., April 12.—M. A. Kline of Cheyenne, special master in chancery, in federal court late yester: day sold the Colorado, Wyoming and Eastern railroad, running from Lara- mie to Coalmont, Col, to C. M. Owen, representing Callaway, Fish & Co. of New York, under foreclosure. The sale price was $201,000. road is 112 miles long. Parcel A, including all extra prop- erty in Wyoming, and parcel B, cover- ing its property in Colorado, were bid in for $100,000 each; parcel C, in which was offered all other extra property of the company, was sold for $1,000. ~This included cash in the hands of Fred B. Miller, receiver. Mr. Owen also represented bond- holders of the railroad and also of the Hahn's Peak and Pacific railroad. It is understood that the bond holders will operate the road and will forego interest on bonds for five years, al- lowing the money to revert back to the company. Mr. Owen was the only bidder. LIMITS WORKERS” WEEK. Manchester Mills Spinning U. S. Cotton on Short Time. MANCHESTER, England, April 12. —Mills spinning American cotton, which were to have gone back tofull- time operation in May, are to com- inue on short time until the end of ptember, it has been decided by the Federation of Master Cotton Spin- ners. The decision means that 100.000 on- eratives will be limited to 2 work- ng hours weekly. The By | ¢ | thread 120,000 § FEATURE OF MARKET | | French Tssues Actively Bought. Improvement Is Shared by . Belgian Securities. o (a0 HIGH-GRADE RAILS FIRM Industrials Not Especially Active in Dealings. BY GEORGE T. HUGHES, 1 Dispateh to The Star. NEW YORK, April 12.—Strength in | the foreign list was the feature of the two hours' trading in bonds today. The improvement which began late | Friday when it became known that the reparations commission had ac- cepted the Dawes commission report ‘was continued. rench bonds were actively bought, cially the municipal and provin- issy Department of the s neh cities 6s. the Bordeaux, and Marseille bonds made new i highs for the ycar. Irench ¥s and tFrench 714s soid at the high of the | year or fractionally above. Belgium Bonds Improve. The improvement was shared to a less dcgree by Belgian bonds, the $s and 7%s. There was not so much activity in the mid-European issuck, but all of them werc firm. The same ce of the bonds of the north- & Stafes govern- loans were steady with the asury 43%s at the high of ¢ r | The proposal to substitute a h ayment for the Insurance provision in the bonus bill was without appre- |clable effect upon government bonds High grade rails and industrials | were not. especi ctive, but were generally firm. A fow were ecti Irregularity Note. irregularity prevailed culative rails. New Haven bonds, which had reacted dur- ing the latter part of the week after their sharp advance, did better today St. Paul bonds about held their own. Baltimore and Ohio junior liens were a littie lower, Speculative utllities were quiet. On the week these have been the steadi- st group on the entire list. A little investment buying has advanced frac { tionally quotations for second-gr: bonds of this cl New offerings for the week totaled jover $104,000,000, the iargest single 1 $15,000.000 state of bonds. . c offering i TRADE IN FAIR SHAPE. Bradstreet's Sees Evidence of Im- provement in Retail Lines. | | NEW YORK, April 12.—Bradstreet's {today says { Trade apes up as about fair, but there is some evidence that the »wd 0f improvement notel | week in retail trade, partic: the southwe sized ribbua of spring we {the nearer approach of Easter. It is {certain that the majority of the re- {ports this week speak of an appre- clable expansion of retail trade: this, {by the way, most manifest in the cities, because mention is made of country trade being slower to fee! th impetus partly because of bad road and partly because the farmers for the first time have been able to ge {into their fields and begin farm w ooy, cekly bank clearings, 37,645 still s rly ther and —_— Washington _Stqpk Exchange. ALES. Washington G: 0 g Washington Rwy. & 5 at T4k Washington G 10 at 3 at 50. Elec. prd.—10 at 4% Light—10 at 50, 9 at 50, AFTER CALL. { Capital Traction Co—10 at 3%, UNLISTED DEPT Washington Bas Ball Club—30 at 30, 50 at Bid and Asked Prices. BONDS. PUBLIC UTILITIES. Askea iy 1075 9814 American & Telga. 4s American Tei, & Telga. 415 Am. Tel. & Tel. ctr. tr. & Am; Tel. & Tel. &P, & Pl pital’ Traction K. City & Suburban 5s | Georgetown Gas 1st Ha— . | Metropolitan K. R. 5s. Potomac Kiectric st | Wash. Ttwy. & Elec. 4x. | MISCELLANEOUS. ID. C. Paper Mfg. Ga. { Rigzs Realty 3 (long). tigss Realty 5s (short) | Wash. Market Cold Storage Wardman Park Hotel 6a. STOCKS. | PUBLIC UTILITIES. [ American Tel. & Telga { Capital Traction | Washington Gas.. b. Rwy. & Elec. com asi. Bwy. & Elec. pfd. Terminal Taxi com. District Farmers & ‘Mec | Federal-American Liberty Liffeoln | National Metropolitan | Rigge Second Natioa TRUST COMPAN American Security & Trust . Continental Trust . Merchants’ Ban National Savings avd Tros Union Trust... Wash, Loan & Trost. SAVINGS BANK. Commerce & Savings. East Washingto Security Sav. & Seventhi Street. United States. Wasbington Mecl American | Coreoran Firemen's Real Estate i D. C. Paper pfd... Merchants' Transfer Mergenthaler Linotype. Natl. Mtge. & Invi. pfd. | 01 Dutch Market com TREASURY CERTIFICATES. (Quotations farnished by Redmond & Co.) Ofter, 48 June 16, 1924 5%s June. 15, 100 23.32 100 1316 100782 1005-16 100132 100332 1081116 100 2352 last| has grown into a good | | Lackawa § 53° 'APRIL 12, 1924. Received by Private Wire Direct to The Star Office. (Bales are in $1.000.) | UNITED STATES BONDS. i (Fractions represent thirty - seconls. | Example: 98-3 means 98 3-32.) Bales. Hicl Tow, Closs. Lib3%s...... 191 99«5 99«3 99+ | Lib 1at 45w 7 99.27 99-26 99-261 {Lib2a4%s... 262 99.26 99-24 99-25| |Lib3d4%s... 53 100-6 100~4 100-5 |Lib4th 4%n.. 433 99-30 99-27 9930 US4%e1962. 46 100-31 100-25 100-28 FOREIGN. | Rales. High. | Argentin 1 1015 ' Argentine §s. .. 3 T84 Argentine 6527 | Austria 7 Belgium 7%s ! Belgium 6s, | Belgium 88 Bern £s. . Bolivia 8a. Low. Close. 1015 101% 8% 8% 907 90% 89 89 1003, 101 99 102 Brazil T4s Canada 68 1996 | Canada b1 192 { Canada 55 1931. i Canada 6 1952. Chile 85 1926 Chile 75 . Chinese Gov Ry 63 Copenbagen e Cuba 5348 Caechoslovakia 8s. 18 Danish Munic 88 A 1 Denmark 8s. Denmark Gs. . Dutch E 15%s. . Dutch Eas¢ 168" Dutch East I 65'62. Finland 8 65 1945.. Framerican 7%s. . | French Govt 8 i French Govt 7% | Haitl 6s. Italy 6%s 1926 Japanese 1st 4 | Japanese 2d 4%s. . | Japanese 48 {Japanese 61.s 'w tJergens U M 6547 { Lyon 6s. .. | Marseille 6s. [ Netherlands 6s. | Norway 81 Norway 6 1943. Norway 65 1952. Orient Dev deb 61. Paris-Ly’s-Med 65 | Prague 7%s. Queensland 7s. Queensland 6s. ... Rio de Jan 8s 1947. | Salvador 8s°45. ... | Sao Paulo State §s | Seine Dept of 7 | Serbs Crotes Slo | Seissons 6s Swiss Confed 8 | Ud Kingm 612829 Ud Kingm 5% '37 Ud Steam Copen 6s Uruguay &s. . Zurich Ss. 110% 110% MISCELLANEOUS. | Ajax Rubbe 1 «Am Agr Chem Am Chain s f §5'33. 1 A SmIt&R 1st bs. ¢ Am SmIt&R 6s. ... Am Sug ref 8s..... AmT & Teltros.. AmT&Tcltrds.. Am T & T deb 53 Am Water Wks 5 Anaconda evdbTs Anaconda 1st 6s. ! Armour & Co 4 . Armour of Del 5%s Associated Oil 6s.. Atlantic Refin Barnsdall s f Ss. Bell Tel Pa 5s. ... Beth Steel 535 ‘3. i Beth Steel rf 5s. Beth Steel pm bs. . Beth Steel s { 6s... Brier H St 1st 5348 Bush T Bldg b5 '60. if Pete 6148, ... Central Leather 63 Cerro de Pasco §s. Chile Copper | Col Gas & El 5s sta. Commonwth P 6s.. Con Coal Md 1st 58 Consumers Pow bs. Cuban-Am Sug Sa. Cuba Cane cvd 8. 100 100 981, 98 93% 100t 864 9% 9 © @ 1004 100 98la 98% 90% 90 87% BTk 8BY 8T 107T% 107% 98 98 76 6 105% 105 88ts 88 107% 107% 1041 104% 104% 104% 9lia 91% 100% 100'% 100% 100% PO SIOE- LR S T PR ETOTE o PRSTR I P =1 4 i Donner Steel 7s. Du Pontde N T%s. Duquesne Light 68 i Est Cuba Sug 7%s. | Empire G&F 1% { Fisk Rubber 8s. Gen Elec deb 5. Goodrich 6% ! Goodyear 8s 1931... Goodyear 85 1941.. Hershey 65 1942... Humble O&R 5%3. i Int Mer Marine 6s. Inter Paper 5s'47... KCP&Lt5s A2, Kelly-Spring 8s... 115% 115% 102t 102 Lorillard (P) 5 Lorillard (P) s Midvale Steel 5 Montana Power b8 Morris&Co 1st 4%3 Nat Tube 1st 58. 115% 115% 88% 88% 95¢, 95% 9% 9% 100 100 98% 984 105% 105 106% 106% 94 94 92 9215 918, 107% 1074 98% 98% 917 914 97 9T% 91'a 9% 53% 93% 90% 90% 101% 101% 3% 13% 89 %9 98 9815 118% 112% 104% 104% 101 101 925 92% 81 874 98% 98% o8 98 8% 83 95 95 104% 104% 93%+ 93¢ 104 104 97% 9% 96 96 107% 107% 926 26 1135 113% 81% 815 102% 102'% 895, 891 96% 96% 61 60% 31% 381% 102% 102% 1075% 107% 66% 66% 98% 98% 914 90% 81% 79 76% T3% 8% | 101 101 101 | 9% 95% 95% ! N Y Tel 6549 NY Tel 4%s. North Am Ed 6s... Nor States Pow 5a. Northwst B Tel Otis Steel 83. Pacific Gas & E1 53 Pac T & T 15t 5 { Pacific T & T 58 '52 ! Phil & Rdg C&I 5s. | Phila Co 5%s'38 Phila Co ref 6s A. . Plerce-Arrow 8s Public Service 6s. . Pub Ser Elec 68 wi. Punta Alegre 7 Saks & Cosf 7 Sharon St H Sinclair Oil Sinclair Oll 6%3 | Sin Crude Oil 5%s. | Sin Crude Oil 6s. .. Sin Pipe Line 5 | South Bell Tel 58. . So Por Rico Sug 7s Southwest Bell 6. Steel & Tube s | Sug Est Orient TDenn Elec Pow 6 o1% | 97% | 91t 93% 90% 101% 3% 89 9816 1124 104% 101 9% | 873 | 98% 98 834 SunBoanubeSascrannme canawe © 75 | 96 Vertientes Sug 7s. Va-Car Chem 7s. Va-Car Ch7%s w. Warner Sugar 7s.. Westinghouse 73. . | Wickwire Spen 7s. | Wilys-Ox 6l4s 33, - Wilson & Co 1st 63 | Wilson&C cv 7%s. Wilson & Co ev 6s. ‘Winchester A T%s Youngstn S & T 6a. {NEW OCEAN FREIGHT, LINE. | vanrviarelatmamar 984 | 90% 79 | 24 67 &1 5 11 Transportation Baltimore to Brem-| en Soon to Be Inaugurated. BALTIMORE, April 12 (Special).— A new freight line from Baltimore to Hamburg and Bremen will be. in- augurated next month by the Rogers and Webb line of Boston, operators jof United States Shipping Board steamers. The Export Transportation Company, which operates steamers to London, Hull, Leith and Liverpool, will be the Baltimore agents. Three steamers, all built at Seattie, have been engaged for the business. They are the Seattle Spirit. Westpool and Deuel, all having a capacity of 7.000 tons deadweight. The first sailing will be the Seattle Spirit, May 15. followed by the Deuel, M: Westpos cumbrace | Gr Trunk sf db ilowa Cent rf 4s... {MK&T6sC IStL&SF6%D... RAILROADS. Sales. High. 2 597 87% 8l% 88 83 9% 84% 101% 87 Ann Arbor 4s..... Atchlson gen 4s. .. Atchison adj 4s... Atlantic C L 1st 4s Atlantic C L cl 4 B&Oprin3n B &O gold 4s B&Ocv4Y%s B&Oret 5s. B &0 PLE&WYV 43. B &0 SW div 3%s. Bklyn-Manhat 6s. 14 10 8 EETEE ARG A Emsan aaSames Canad North 6%s. Canad Pac deb 4s. Car “linch & O §s. Car Clinch & O 6s. Cent of Ga 6s. Central Pacific 4s. Ches & Ohic cv 5s. Ches & O cv 4148, Ches & O gn 4%4s.. Chi & Alton 3%s.. Chi B&Q 1st rf bt Chi & E 1N gn Ge. Chi Great West4s C M & Puget Sd 4s. ChiM & St Prf 4% Chi M & St P cv Gs, ChiM&StP 4s 76% 58% 59 56 60% 83% 64 57% caak-w ChiTH & SE bs... Chi Un Sta 6% Cleve Term 5%s. . Cleve Term Del & Hudson Gige. Den & Rio G cn 4s. Det United 4 % Erle 1st cou 4s Eris con ext 7 irie gen 4s rie conv 4s A. rie conv 4s B. rie conv 4s D. Grand Trunk 7 Gr North gen T Gr North genbi Hud & Man aj 5s.. 111 Cent ref 58 '55. Int Rap 1ran 5i int Rap Tr bs Int Rap Trans Int Rap Tran 7 Int & G Nor aj és.. Int & G Nor 13t €. s Kan City Term 4s. Lake Shore 4s°'23. . Louts & Nash Louis & N 58 B Manhat Ry cnds.. Market St cn 5s. M StP & SSM o les. MK&TprinssA. 3 MK & T adj b3 Mo Pacific 6s Mo Pacific 5s Mo Pacific gn Y Cen deb 6 ¥ Cen deb 4s S sBanalic acBlbelrmrun~S8abrneaulcan-n conaonana YC&StL6sA.. New Haven cd 6s. ew Haven 7s. Y Ont & W re. orthern Pac 4s orthrn Pac 3 Ore & Calif 1st 5s. Ore-Short Lref 4s. i Ore-Wash 1st rf 43 Pennsyl gen 58. ... Pennsyl gen 4% Pennsyl 6% Pennsyl gold 7 Peoria & E inc 43 Pere Marq st 6a.. 1084 28% 93% Reading gen 904 Reading gn 4 swi. 3 Rio G West cl 4s... RIATk & L4%s. St LIM&S R&G 4s. StLIM&S 4s°29 StL&SFpl4sA.. L&SFincés. StL&SFadjés StL&SFplésC.. StLS W con 4533 Seabd AL dss Seab’d A Liret Seab’d A L adj Seab’d A L con 6 Sou Pacific 45 1929 Sou Pactfic ref 4 Southern Ry 1st 5i Southern Ry gn Southern Ry 63 Southern Ry 6s ct, Third Ave adj 53 Union Pacific cv € Virginia Ry 1st Gs. ‘Wabash 1st 5s. Wabash 2d 5s. Western Md 4s West Shore 1st 4s. Whel & LETf 439 REPORT IS ADVERSE TO NEW RAILWAY LINE -ty Sontuoka~BRE8 e P I. C. C. Examiners Turn Down Pro- | posal for Fifty-Mile Extension Branch by M., K. & T. A recommendation that the Okmul- gee Northern Railway Company be denied permission to build two exten- ons totaling fifty miles was made | in a preliminary report today by In- terstate Commerce Commission ex- aminers. The commission itself will make the final decision. The application was backed by Company, which seeks a branch into the Henryetta, Okla., coal fields. The Missouri, Kansas and Texas agreed to purchase the entire capital stock of the Okmulgeo Northerr if the ex- ! tensions were built. One of the pro- posed extensions was from a point| south of Okmulgee, Okla., into Okfus- kee county, Okla., fifteen and one-half miles, the ‘other was from the same point in Okmulgee county, to Oktaha, skogeo county, Okla. twenty- six_miles, where 000. The Okmulgee Chamber of Com- merce and the city of Okmulgee sup- ported the proposed extensions. The Missouri, Kansas and Texas, the report said, is using oil-burning engines, but the company claimed it | might be forced back to coal burners at%any time and would need 4 coal supply on its own line. 3 The city of Okmulgee backed pro- posals for the extentions to bring the Missouri, Kansas and Texas road through the cit: The examiners held that \the evi- dence showed there is an adequate coal supply availabie for the Mis- souri, Kansas and Texas in the Hen- ryetta field, and that to open a new coal field there would cause an over- production. PRI S Salve’ CHICAGO STOCK MARKET. CHICAGO, April 12.—Following is a report of today's sales, high, low and closing_quotations, at the Chi- cago Stock Exchange: High. SIS Armowe Leatner . '§ 50 Armour of Del pfd. §8 B et Motors.” 13t %8 Soa West prior tiea 91 €30 Middle West Util.. 52 ontgomery <10 Tow. Close. 8 . | for ¢ {quarter. 1091 | % | ufacturers, the | | Missouri, Kansas and Texas Railroad | it would cannect i | with the Missouri, Kansas and Texas. | | Total cost would be more than $2,000, . FINANC 1 FEATURE IN COTTON IAL. WASHINGTON GAS SHARES ADVANCE Week’s Reports From Spot Mar-|Activity in Local Base Ball Stock * kets and Urgent Covering | Mark Dealings. i By the Associated Press. NEW YORK., April 12—The out- standing feature of the cotton mar- ket during the past week has been the strength of the old crop !ilui\-‘ tion as reflected both by reports from | the spot markets and by the urgent! overing of May and July shorts in | the futures market here. There were ! very sharp reactions at the beginning ot the week and again on Wednes- day, but they were checked by a con- | tinued demand from trade and specu- | lative shorts, and the advance ex- tended to 3195 for May contrac Thursday morning. making a reco ery of 515 cents per pound from the ! low lcvel touched toward tiie end of | March. | ‘The demand for new crop posi-| slons was much less urgent, but they | were pulled up by the strength of | near months, and Ooctober sold as' Nigh as 23.01, compared with 23.45, the low price of March 27. At these figures realizing became more active | and gencral, while the demand te- | pered off considerably, and there were | sharp reactions today in consequence Both Liverpool and the continent were reported bidding for spot cotton in the southern markets and further sales have been reported out of the local | stock with today's advices indlecating additional bookings of ocean freight |room €or shipment from New York | during the last half of April or carly May. The certificated stock here now amounts to about 117.000 bales, and it }in estimated in trade circles that it | will be down to less than 100,000 by the end of the month. It is reported that a steamer h been chartered to carry a cargo of ton from New Orleans to Mamurs I3xports from this country t6 a =0 far aggregate 26.8: bale; xports to Germany up fo the end this week had amounted 1o 1.0 bales so far this season. These | tures have all contributed to the strength of the near months, while ! there has also been bullish comment | on the continued large spot sales in Liverpool, partly for export to the| continent. i The Liverpool futures market has | | been very quiet and business here has | probably been restricted by British | labor uncertaintie | i SUPPLIES AUTO FIRMS. | Baltimore Rolling Mills Are Fill i | ing Large Orders. ! | BALTIMORE. April 12 (Special).— ! eports of slowing down of activities | in the automobile industry borne out by the output of the East- | ern Rolling Mills of this city. By far the larger part of the products of | this company are sold to automobile | manufacturers. The Eastern Rolling Mills Company | sold and delivered every pound of | rial it turned out during the| quarter of the year. Orders al on the company's books call eutire output for the second | i | fi, | ready s some of the orders are subject to| modification or even cancellation, but |up to this time the companies which iplaced the orders have not changed | {them in any way, and Eastern Roll- {ing Mills offic do not expect any | material change | All departments of the L operating day and night w shifts. The | profitable in ‘the history of the - pany, and the management cxpects | ithe current year to be prosperous. i e plant ary th three { BUTTER AT LOW LEVEL. } 'Price Depression During Week | Most Pronounced of Season. CHICAGO, April 12—Butter prices | this week reached the lowest level of the season. Following the lead of | New York, where sharp declines o curred, eonditions at all points as- sumed the characteristics of weak and unsettled markets. | The chief factor sentiment that prices must go lower. based on weak forelzn markets heavier current arrivals and a con. siderable storage stock surplus over | the corresponding week last year. A slow increase in production was |indicated by reports of the American Assoclation of Creamery Butter Man- | which showed a 3.3 per | cent increase over last year, and re- ports from smaller creameries showed | ia slightly larger make. The Minne-, sota Co-Operative Creameries repor! ed a decrease over the previous wee! Foreign butter caused nervousne: with New Zealand aad Argentine finding a very v sale at declining {prices. Arrivals included ifrom Holland and 6.700 boxes of !gentine and 13,937 boxes of a X Zealand shipment in New York har- bor were unloaded fTor domestic !markets. A shipment of {of Danish is due next T |further shipments from {und the Argentina | F— as the general ew Zealand are not probabie. i SHORT TERM SECURITIES. ! (Quotations furaished by Redmond & Co.) —Close.—, | Bid. Ofter. | | Aluminum Co. of Amer. 10212 Aluminum Co. of Amer. 1065, American Sugar Ga 1957... American Tel. & Tel. 6s 1925 Ansconda Copper 6s 1820, | Anglo-American 01l 7is 1825 Associated Oil Gs 1855. Beil Tel Canadian Chi., Mil. R Federal Sugar Ref. Fisher Body ( R, Fisher Body Corp. s 1928 .. Goodyear T. & R. 8s 1951. Great Northern 7s 1936. New York Central 6s 15 Oregon Slort Line 45 10 ‘Wheeliag Steel 6s 1926. e e CHICAGO LIVE STOCK MARKET. CHICAGO, April 12 (United States Department of Agriculture).—Hogs— Reoeipts, 6,000 head; fairly active choice 160 to 325 pound averages, 7.45a7.60; top. 7.65: bulk paoking ! Sofrs, 6.8527.00; k bulk desirable strongwelght, 6.2526.60; estimated holdover, 4.500 heavyweight, 7.35a medium, 7.40a 7.65; light, 7.05a7. ight ligh 45 packing sows, smooth, packing sows, rough, slaughter pigs. 5.00a6,75. Cattle—Receipts. 500 head: week ago Better weighty beef stee higher: | mostly 50 up; common and medium lightweight steers and vearlings, steady to 25 higher; extreme top ma- tured steers, 12.40," highest for cur- | rent year: best yearlings, 11.75: she stock, 15 to 40 higher: wolghty kosher cows and better grades beef heifers showing most advanoe: ca ners and cutters firm: bulls strong to 15 higher: veal calves uneven largsly 50 to 1.00 lower; stockers and feedors steady. Week's bulk prices follow: Beef steers and 8.50:21.00; fat.she stock, B canners and cutters, 2.85a3,90: stock ers and feeders, 6.25a7.75. Sheep—Receipts, 2,000 head: re- ceipts mostly direct; market nominal- ly steady; for week around 13.000 direct; 132 cars fed lots; week ago: Fat lambs 25 to 60 higher. yearlings 25 to 50 higher; sheep most- iy 50 higher; top fat wooled lambs for week, 17.10; best clipped lambs top fat wooled ewes, 12.50. Bulk prices follow: Fat wooled lambs, 16.00416.95; clivned, 14 40; wet 17w, | org, 10.65all50; ewes, 10.30a12.25, com- gTudes {stock in a year, on the {58 brought strong' to 5 higher; bulk govod and ||l ling pigs unchang- | | ruc il Also a Feature on Change. MONEY AND CREDIT STABLE Little Change in Condition Noted by Reserve Board. A rise 10 30 on the part of Wa ington Gas Light stock and the fir activity In Washington base ball clul, unlisted sec outstanding oc curences on the local board thi morning. The former sold to the extent of fifty-nine shares, while th amusement issuc sold Lo the ext of 100_shares at Capital Traction mum advance to fitty-five shares, Rallway and Eleetric changed hdnds to the teen shares at 7412 5 and tion, were the ored on Washingto and preferred extent of fi Washington G the sixes of 1 1007, Error in Compilation. ar is advised by avage of the National st Company that two e olumbia Nat 3. whick 018.89 reserve bani but little variation v and credit n o! country. For the week ended April o the raiio of total dopos t and federal reserve labilitics combined stand per cent against 788 per previous week. Changes dur: week 1 sulted from an incre in the totu reserves of appro: ty $10,000.60 and a decrease in total deposits of approximately $7.230,0¢ Actual Circulation Drops. Reserve notes in actual ecireulation declined about $5,000.000. e Lo er. was more than offset by ase in circulation of gold es. Member tands at 31 i 33,000 the Another small dec the number of fail States this w ng reported to R. G is four less than the nu but is thirty-five in ex: defaults of a year ago. Th fewer failures this week than and on the I was no In t statemer s n the erves to te cent g were last w. cific co in the slight The number of defaults having i bilities of o decre: 237, against to the total, higher. being s compared wi A year for § he ra TAKE UP MOTOR MERGER. last weck howeve rat sligh nt this weck § per cent when there were (00 or more in each &0 instance 30, April 1 lgamation of the National Mot Acsoctation and the A rican Automobile Asso- ciation w considered by the two ¢ ganizations meeting in separate con- ventions here yesterday. The National Motorists’ Association adjourned zeneral convention and referred the matter 'to a committee headed 1 Walter D. Meals, president. bers of the t organiz sentiment of tie bodies i nd the matter w settied today. The American Automobile Associ tion later appointed a committee to meet with the second association Each committee is empowered to act, and members of the organization said that amalgamation plans probably will be worked out by the committees within sixty days. 1 probably De Your Own Interests- demand that your sav- ‘[ ings be placed where | they will earn the maxi mum consistent with absolute safety. These conditions are ideally fulfilled in our First Mortgage Investments $100—$500—$1,000 1418 K Street Matn 617 First Mortgage Notes— Secured by Improved Real Estate In Washington Worth Double The Amount Of the Loan— Interest Rates Today, 6% and 7%— Denominations of $100 to $1,000— Partial Payments Received— Mortgage Investment Dept. (AR & ocr) 713 and 715 14th St. N.W. Main 2345 <