Evening Star Newspaper, April 22, 1924, Page 26

FINANCIAL CAUTION FEATURES WALL STREET DEALS Wraders Quietly Take Short Con- tracts, Avoiding Up-Bids in Prices. WIL SHARES STILL HEAVY Selling Operations Resumed in Afternoon Transactions. BY STUART P. WEST. Special Dispateh to Tho Star. NEW YORK, April 22.—During the carly part of today's etock market session traders were quietly taking in short contracts where they could without much bidding-up of prides. gave a firmer appearance to the list and led to occasional recoveries. But it could not have Lawn said that there was any change in sentiment and in the afternoon selling opera tions were resumed e Utah Copper showing over 36 earned, added a fur- ther incentive to the buving of Ken- yuth American coppers were emand. ¢ My Cerro de American ing ran up 61 again. Buyers of the cop- not_disconcerted by the vet the market for the me 1l positively in Bur developed but it has | jal report has days | Am Hide & Lea. | Am Zine. ... NEW YORK STOCK EXCHANGE Received by Privaté Wire Divect to The Star Office Low. Close. 69% 69% 1% 1% 9% 9T% 67% 67% 113% 113% 42% 42% 8% 8% 23% 234 374 37T% 107% 107% 96% 97% 111% 111% 154% 155 14% 14% 60 60 4% 4% 94 944 8315 934 % TH 51 51% 19% 20 10% 104 144 14% 0% 95 5% 594 984 Open. High. % 1% 1% 1% 97% 97% 67% 68% 113% 113% 43 43 8% 8% 23% 24 88 38 07% 107% 97 98 111% 111% 154% 155 14% 14% 60 60 4% 4% 94% 944 93% 8 52% 197 10% 14% 704 Low. Close. 5% 6% 87 87 61 63 82% 824 18 18 40% 40% 87% 87% 37 a1 25% 26% 23 28 33% 33% 34% B4% 39% 394 10% 10% 82% 834 19% 17% 18 1% 4 4 o4 2% 59 59 10% 10% 50% 50% 120 124 37% 37% 621 625 228, 18% % 99 7 515 1% 381 25% 125 160 125 112 sk 49 100t Open. High, 6% 1% 87 87 61 62 2% 82% 18% 18% a1% 874 37 26 23 83% 4% 39% 11 82% 175 18 4 2% . 59 103 80% 1215 38% Alr Reduct (4).. Alaska Juneau All Am Cab (6) Allied Chem (4). AIC& Dot (7).. Allis-Chalm (4). ims, em pt Am Beet Sug (b, Am BS&F pf (7 Am Can t6) Am Can pf (7) AmCa R (1D, Am Chicle. . Am Chiclo pf. Am Drug Synd. AmER P 256(7). Am For Pt pa. Mack Trucks (8 Mack T 2d (7)... Macy R H& Co... Magma Copper. Mallinson & Co. .- Man El Sup (47.. Man Elec gtd (4) Manhat Shirt (3) Maracaibo Oil. . ). Maxwell Mot A... Maxwell Mot B... May Dpt 8t (5).. Mex Seaboard. Mex Seaboard cf. Middle St Oll Minn & St Louls.. M StP&SSM pf 4 Mis Kan & Tex. Mis K & Tex pf Miasouri Pacifie. Missouri Pac pf... Mont Power (4) . Montzom Ward. Moon Mot (3)., Mother Lode (1) Am Hide & T, of. AmInternatl... Am LaF I 1 (1) Am Linsced. . ... Am Locomo (6). Am Radlator (4) Am Saf R (50c). Am Sm & Re (57 AmB& Rpt (7). Am 5t Fiys «3; Am Suj Am Sugar pf (1) Am T & Tel (9) . Am Tobac (12, Am Warar Wi Am W W pr (g Am W W 1st (7 Am Wonten (11 Am Wool pf (7). Nat Lead (8) Nat Surety (9).. NOrT&M(1).. N Y Afr Br (4) NYABra (). N Y Central (7). N 7 C-Ready rts. $Y C & SHL (6) . C&SL pr(e). 'Y Dock Anaconda...... 1l (7) ATt Met Con (1), Asso Dry G (5 1550 O (114) ALT & S Fo (61 \)umln d issues, dividend -had offect. So did the Phillips | Petroleum report for the first quar showing net income before d ation and depletion of $6.098 $4.414, yeur ago. con wus un index of for the etter in lln o due to first of the Copper Group § With the exception of Anuconda which has behaved differently the rest right along, the copper group was strons | merican Sugar dropped 40| again, but the shares of the produc- ing com for the most part did better he vering nticipati turn o | dying his | the the from below after w again. Des the te the street opinion that the Coca Colu dividend will those in a position to Xnow there would be no change that the stock was being micked up quictly. ; Feature Steel Shares. Colorado Fuel and Iron stood out ‘moticeably among the steel shares in response to the report for the first quarter showing a surplus after all charges and depreciation of $580,084 against $382,713 last year. Weakness in the Central Leathers was readily accounted for by the statement for the first three months of 1924, which made a pitiful showing. Total net income amounted to less than $90,000, as against nearly 32,000,000 during the same period in 1923, and after bond interest there was'a deficit of $369,618, against sur- Plus of $1,491,000 a year ago. WEAXK SPOTS AS TARGETS. Price Drift to Lower Levels Halted by Short Covering. NEW YORK, April 22.—Selling pres- esure continued to impart a heavy tone " to stock prices, which drifted mainly “lower at the opening of today’s market. .American Can, Baldwin, American Sugar and U. S. Steel, which were con- spicuous weak spots vesterday, held tairly steady in initial dealings, but there was a further shading in prices ©f the oil shares. Weak Spots Attacked. Professional attacks were directed against weak spots in the carly trad- bringing about declines of a point | morf in Central Leather pfd., :\llzh1 and Burns PBrothers tongoleum. whose erratic fluctuations market, again was yielding 1 points. rticularly shares, Pan- ps, Maracaibo and moved fractionally lower. cropped out some of the with South Pacific Sugar and American Sugar pfd. tionally to 1924 low Foreign exchange opened of Covering. checked the Halted hy Short covering lat rd movement and brought improvement in many sections the list hefore selling pressure was | Professional maneuvers re- | price movement oups the basis of an iner demand for petroleum. s 4 0il of C: Short Aownu 0! renewed.” ted in mixed on ‘took place in Seaboard. Mar- Tidewater, how- Railroads of group industrial and Gen- a point 4 per points Fouston and Me air and ended the losse display strength, and umber” of . inciud Baldwin scored gains of or more opened at cent. Upward Turn - Balked. The market was making good head- cway upward again under the le of several of the motors. food and oil shar vy selling_of the textile INew Orleans, Texas and Mex aker and American Sugar turned the eral trend downward. New Orleans, Pexas a co dropped 3%, Ameri- can Woolen, to 62%. 4 new mini- mum pri the year and Stude- baker 2 points to 91 nother low. | Raldwin also got down to 108%. the iowest of the STOCKS EX-DIVIDEND. Aprit Allis (h._mm A April April April April 25—~Shell Us. N. Y. Stock and Bond Averages. Mond: STOCKS. stock sales, il Corp. April 21, Total 982,100 shares. Twenty industrials 90.45; net loss, 1.53. High, 1924, 101.24: Twenty railroads $1.45; net loss, .42, High, 1924, 86.32; BONDS. Total bond sales (par value), $11,565,000. Ten first grade rails averaged #6.85; net gain, .08 Ten secondary rails averaged £4.87; net gain, .16. Ten public utilities averaged 87.36; net loss, .19. Ten industrials averaged 92.78; net loss, .45. Combined average, loss, .09. Combined average month ago, 28.14; year ago, §6.77. averaged low. 90.45, averaged low, $1.00. 87.97; met | Attantic Rer 4y | Butte & huvennr | Cub Cane Supt.. | Erie latpt. | Famous Pi pt (8) AT&SFp!i5) Atl Birm & At. Atl Fruitctfa At Gu'f & W1 Y Dack pt | NY NIT & Hart N Y Ont & West. Norfolk South. | Norf & W (18) . North Amer (2) orth Pac (5)... | OK1a Pr & Rer. Orpheum (116) .- Orpheum pf (3) Ot's Elavat (8) Owens B of (7) G (). PacificOn (2) Packard (1.20) Packard pf (7) Pan Amer (4). .. Pan Amer B (1) Panhan Atlas Powd (4) Auto Knitter Bald Loco (1) Lal & Ohf. (5) Barnsdali & arnsoall B h Nut (2.40) Heth Steel () .. Roth Stl pf (7) Brk Edison (8) B L Aan Tran nswick Term Burns Br (10) . Burns Rr B (2) . Burns Br p) Butte C & Zinc v i venn Rafird (3) Peop Gas Ch (7) e Marq (4) . | PhLijaCo (4). |Philn & R& I Ph-Jones pf (7) ©hil Mor (50¢) .. Phillips Pet () Pierce-Arrow. . Pierce-Arrow pt Pierce Oil Picree Ol pf. Pitts Coal (4). Pitts St pt (7 Pitts Ut pf 1.6: Pitts & West | Postum Cer (4). Postum pf (8) PressStC (4).. Proda] Refiners Butterick Co. Cal Packing (8. Cal Pet (1%) ... Cal Pet pf (7) Callahan 7 Lead Calu & Ariz (2).. Can Pacific (10). Cent Leather Co. Cent Lea Co pf. Cer de Pas C (4 Certain-Td Prod. Chand Mot (6).. Ches & Ohio (4). Ch & East Ill pt. Chic Gt West. Chic Gt West pt. Ch Mil & St Faul. Ch M1l & St P pt. Chi & Nwn (4).. ChicRI& Pac.... Ch StP Min & C StPM&O pf (1) Chi Yeliow C (4). Chile Cop (2% » Clu, Peab pf (7). Coca-Coia (7). Colo Fuel & Iroa. Colo Southern. . . Col G & E (2.60). Col Carben (4) ... Com Solv A (4).. Congoleam (3).. Consol Clgar. Consol Gas (5 Consol Textile Cont Can (4) . Cont Can pf (7) Cont Ins (6). ... Contl Motors (20¢) Corn Prod (10).. Corn Prod new Cosden Co. Crucible St! Cnb Am Sug (3). Cuban Cave Sug. Pullmian Co (8) .. P'unta Al Su (5). Pure Oll (1%)... Ry Stl Spg (8). Ray Cons Cop Reading (4). Reading rts. Read 2d pf (2). Reis Robert. .. Reis Robpr (7) .. Replogle Steel. .. tep Ir & Steel Reynolds Spr (2) Rey Tob B (3).. Rey Tob pf (7). Roy L'teh (3.48) St Jos Lead (12) St L. San Fran. St L-San Frpf. St L Sothwest. Savage Arms. chulte (§8) . Seaboard Alr L. Seab'd Alr Lpf. Sears Roe & Co. Seneca Copper. Shell Trad (2.06) 1ell Un Ol (1) . Simmons Co (1). ros i'et.. . ne Con ONL (1‘ n Con O pf (8). Skeily Oil. . Sloss-Sheft (6. So P Rico Su South Pac (6)... Southern Ry (5). South Ry pf (5).. St Oil Cal (2) Ol N J (1) Srew't War (10). Stromberg C (8). Studebaker (10) udebaker wi.. bmarine Boat upierior Ofl. . Sweets Co of Am. Tonn C & Ch. Texas Co (3 Tex Gulf (16%). Texas & Pacific. . Tex & PacC&0. Third Avenue. Tide Wat Oil (4) Timken (13%). Tob Frod (§) Tob Frod A (7) Tob Prod pt (7) Transcont Ofl Un Pacific (10) Utd Alloy St (3). Utd Fruit (10). Utd Ry Invest pf.. U S Cast Iron P U'S CIP pf (7). U S Distributing. U S Ind Alcohol. . USR&Im (8) U S Rubber. . S R 1st pf (8) U S Smelting. USsSteel (16%). U S Steel pf (7) .. Utah Copper (4). Utah Securities. . Vanadium Corp.. Van Raalte. ... Van R 1st pf (7).. Va-Caro Chem B Va-Caro Ch pf. .. Vivadou (§2) Wabash. .. Wabash ut A. 844 484 E0% 411 14 62 3% 45% 106 8915 6 . 164% 32% Cuyamel Fr (4) .. Dan!Boone M(3) Davidson Chem. Del & Hud (9) De! L& W (8) Det I2d Co (8) Dome Mines (2} Dul So Sh & Atl Du Ptde N (8). Du P de N db (6) Dug Ltstpf (7). East K (15%) Eaton Ax (2,604 £1Stor Bat (4) d-Jonn (5) .. Eri Famous P1 (8). .. Fd M&SDE (1), Fifth Av B (64c) Fisher Bdy (10). 2 Fish BO pf (8) Fizk Rubber. .. . Fleischman (1 Freeport-Tesas Gen Am T C (3). Gen Asphait Gen Baking (6) .. Gen Cigar (8) Gen Elec (5) . Gen Ei spe (60¢) Gen Mot (1.30) .. Gen Mot db (6) ... Gen Mot db (7) Gen Petrolm(7). Girabel Br pt (7) Glidden Co. | Gold Dust w. { Goldwyn Pict. 57% 27 9 10% 123 34% 541 84% 184 4 130% 25 187 26% 7% 881, 2214 6415 934 27% 4% 19% 96 119% 66 264 2 19 65'% 1 634 815 155 447 56 113 17% 591 247% G'dyear pr Granby Con Gray & Davis. . Gt North pf (5. Gr NorOre (3)... Gulf St§tl (5).. Hanna 1st pf (7). Hartman Co (4). Hayes Wh'l (3) Homestake (§) .. Housen'd 'r (3. Houxton Of Hud Mot C EHupp Mot C (1) Hydraulic Steel.. Iitinois Cent (7). Indep Oil (25¢). Inland Stl (3% ). Inspiration Cop. Interb Rap Tr. Int Cement (4) .- iat Com Eng (21 Internat Har (5) Int Mer Marine. . 1ot Mer Mar pf Internat Nicke!. Int Pap pf st (§) Wt TET (6)... Invincible Oil. . .. Jewel Tea pi. ... .. Jones Bros Tea.. Jones & Lau (7). Jordan Mot (3).. Kapsas & Gulf. .. Kan City South. Kayser Jul & Co Kelly Spr Tire. .. Kenane Cop (3). .. Keystous T& R.. Lee Rub & Tire.. Len Val (3%) Leh Val rights . Lig & My (new). Lig & My B(new) vestern Pacitlc. . €[5 & M (4). Wn Eag il (2) Wheel & L Erie. White Mot (4). Wickwire Sp Stl. /Wilson & Co. Wil& Copt.... Wiilys-Overland Willgs-Over pt.... Woolworth wi(3) Worthing Fump. Wright Aero (i). Wrig WJr (3). Yellow Cab (5 iPartly ext Dividend ra are the anu b1% 10% 34 8% 67% 7% 24 10 3% 3 54 5l 53 . iPayalle In preferred stock. a8 given in the above table cash paymeuts based on the latest_ quarterly or bLalf-yearly declarations. Unles# otherwise noted, extra or speclal dividends are not included. High. Low. Last. Call Money. 4 4 4 HOURLY SALES OF STOCKS. ilam.....287,400 1p.m.....550,800 2m -447,500 2 p.m...000,000 DIVIDENDS. Pay- able. 10% 34 8% 66% % 24 10 5% 7% 9% Stock of record. Loews Ing (2)... Lorillard (3)... i.ouis & N'sh (5) Ludlum Stl (2).. Mclotyre (1).... 1 May 1 Apr. 30 May 16 Apr. 30 Apr. 25 Apr. 21 | Stew-Warn com. Trenton Potteries n-cum ... ‘Wash.-Crosby pf... | irregularity i | held fairly 5 | lower. May 1 Apri 24 BONDS OF HIGH GRADE, SHORT TERM,POPULAR Prices Today Show U. S. Loans, Notably Liberties, Continue in Strong Tone. FOREIGN ISSUES HIGHER ‘Weakness in Industrial Is Reverse Fea-- ture. However, BY GEORGE T. HUGHES, NEW YORK, April 22.—United States government loans were very strong again today. The fourth 4% liberties made a new high record for the year. Large blocks were bid for at par and the supply was not equal to the demand. Actlvity and strength featured the other government issues. At the same time there was eager inquiry for all high-grade short-term securities. Here, too, the market was swept almost bare of desirable offer- ings. All this, of course, was in di- rect response to the money situation. | Time funds were quoted ut 4% per cent for all dates. Money continues |to pile up in the banks and there is no sign of any change. Forelgn Honds Firm. Second only to the strength in liber- ties was the reign bonds, particularly French > Bor- deaux, L. nd Marseille 6s new highs the year, the day in ion. Taris, 1 Mediterran 3 up also to a ne: points of their high of 1923. French s bettered their high record this year, while the §5 sold at par again. | Czechoslovakia 1 second ued their s than tw ing price. It was qui the dustri recovery. points unded e u differ Here was the wheve the security was bey manner of question. Wilson & had another sharp break Ti.s being down at one time 6 p while the first mortgage 6s more than New Low Records Show an Sugar Refining ractional loss. but less a new low record for the x Rubber 85 likewise were v low. Kelly Springfield 8s dropped | ck u point and over und then rallied. There w. to nt w rule, s even a_reactionary ten- Brooklyn-Manhattan Tran The directors yesterday d - | red an initial dividend on_the pre- | ferred *=tock. Interborough bonds | well. Public Service of | s were very firm. pecula rails were more or less Western Mar; nd 4s \n!l“ | down rather ily St. Paul I)undx‘ were lower under quiet trading. On | the other hand, ew Haven 7s were | Jersey srable pew financing was re- ported in prospect, including at least one important traction issue. The New Yor! ntral and the on P cific were both said to be about ye. to enter the market |0IL COMPANY PROFIT | IN 1923 $24,443,439 Standard of California Shows Net Returns and Notes Extension of Operations. \ Wy By the Associated Pross. SAN FRANCISCO. April —The annual report of the Standard Oil Company of California. made public | | yesterday, shows a net profit of $24, 442439 for 1923, the extension of the company's producing operations in Montana and the bringing in of the company’s first producing well in Texas. | Bad weather delayed deveiop, . |in the Cold Bay district of the Alas- ka peninsula, the report said, but better progress was being made with development plans in Argentina, Co lombia, in Mexico, where the holdings were increased to 61.500 acres, all in the Tehuantepec section: Fcuador | and in the Philippine Islands While |no arilling has been undertaken as yet by the company in Mexico, am- bitous plans are under way for the | development of petroleum prospects | in the southern part of that country, | the report said. The company controls through lease | and fee 226,223 acres within the | United States and 465,000 acres in ‘olher countries The company’s gross earnings for |the yvear were $38.330.926. The < plus at_the end of 1923 was $63,7 990. Cash dividends amounted | $18,016,273 Total stocks of all products on De- cember 31 were 48,039,497 barrels. an increase for the vear of 23,985 bar- rels daily. The gross production crude oil in Montana leaped from {13.344 barrels in 1922 to 57,687 bar- | rels in 1923. "The company's holdings in that state increased 79,557 acres. The Texas holdings were 39,408 acre: The inventory on plant and products at the end of 1923 was $62,398,360. ent | to SANTA FE RAILWAY | INCOME INCREASED Total Net Earnings, 1923, $42,- 037,801, Compared With $34.- 382,379 Previous Year. By the Associated Press 1 CHICAGO, April 22—Net corporate income of the Atchison, Topeka und Santa Fe Railway Company in 1923 was $42,037,801, compared with $14,- 382, in previous year, according to the annual report. Operati revenues aggregated $258,683,735 and operating expenses $173,076,268 for 1923, compared with operating revenues of $225,124,544 and expenses of $166,904,377 in 1932. Total charges to capital account aggregated $937,015,525, an increase of $40,818,108 over 1922. This included additions and betterments of $45,- 731,973, Tn commenting on the great traffic of 1923 and the efforts of railways to improve their service, W. B. Storey, the president, in the Teport to stock- holders, said: “This’ resuit was made financially possible by the greater confidence of investors in railroad service secur- ities, to the gradual improvement in earnings and to the fundamental soundness of the transportation act under which the railroads have been perating since March, 1920. “As Its part of the 1924 program your company,” continued the report, “is getting 5700 new freight cars, 50 express refrigerators, 78 passe ger cars and 57 _locomotives, aggre- gating in cost about $24,000,000, and is planning for 102 miles of second track on its transcontinental main line.” S el o STATE PROTESTS R. R. DEAL. The state of Colorado today pro- tested to the Interstate Commerce Commission against the proposed purchase by the Missouri Pacific rail- road of half tne capital stock of the Denver and Rio Grande Western. made | | Sao Paulo State §s. |AmT & Tclrds | North Am Ed 6%s Both sides were given twenty days in which to file briefs. 22, ey TUESDAY. APRIL 1924, [rare vorx BONDS o ] Received by Private Wire Direct to The Star Office. RAILROADS. Bales. High. 7 87% 2 98% 84% 101% 88 85% (Sales are in $1.000.) UNITED STATES BONDS. (Fractions represent! thirty - seconds. Example: 98-3 means 98 3-52.) Salew Hizh. Low. Oloss. Lib 3%s. 129 99-10 997 99-9 Lib 2d 45 5 99-29 99-20 99-29 Liblst4%s... 137 100-L 99-30 100 Lib2d 4%s... 1935 100 99-30 99-31 Lib3d 4%s... 1009 100-8 100-5 1007 Lib4th 4%s.. 538 100-2 100 100-2 US4Ks1952. 265 10119 101-16 101-17 FOREIGN. High. Low. Close. | 101% 101%,101% 904 90 90 90% 89% 90% 101% 101% 101% 99% 99% 99% 102 101% 102 89% 89% 89% 21 82 82 80% 81 947, 95% a9 102 99%, 100 103 96% 90 24 7% 95% 86% 94% 93% Atchison gen 4=. 0 SW div 3%e. B & O Toledo 4s, Biclyn-Manhat 6s. 132 Caaad North 6%s. Canad Pac deb 4s.. Car Tlinch & O 5s. Car Clinch & O 6s. Central Pacific 4s. Ches & Ohic cv 58 Ches&Ocvate Ches & O gn 4%s Chi & Alton 3 Chi B&Q gn 4s '58. Chi B&Q istrf 5s.. Chi & E Il gn 5t Chi Great West 4 CM & Puget Sd 4 ChiM&StPre4 ChiM & St Pcv 58 Chi M & St I 4325, Chi M&S P cv 4% Chi M&EST P 4s'34. t Pdb 4s. C Péswi. Chi& N W 1 t Argentine Argent| 8 1 8 7 7 3 Belgium 7% Belgium 6a. Belgium 8 Bolivia 8s. Bordeaux 6s. P Iotos Canada 5%s 1929 Canada bs 1931. Canada 5s 195 Chile 83 1946. Chile 72 1943. Copenhagen & Cuba 5% Czechoslovakia $s. Denmark 6s Dutch E 1 Chi T H & SE fs. Chi Un Sta 6345 Chi & W Ind cn 4s. CCC&StLrf 6s A. Cleve Term 5s. Colo & Sou 4%s CubaR R6s.. Del & Hudson 5%¢ D & Rio G imp 55 Den & Rio G cn 4s. D&RG strf 5s Det United 4's. Erie 1st con 4s. Erie gen 4s Erie conv4s D. Gr Trunk sf db 63% Grand Trunk 7s. Gr North gen 78 Gr North gen5i4s Green B& W db B. Hud & Man ref 5s. Dutch East I 68'62. Finland s f 68 1945, Framerican 7 French Govt §s. French Govt 7 Haiti6s. ... Ttaly 61458 1926. Japanese 1st 4is. Jergens U M 68 Lyon Gs.... Marseills 65 Montevideo Ts. Netherlands 6. Norway 68 1943 Norway 6s 1952 .. Orient Dev deb 6s. Paris-Ly's-Med s 1 Prague 7%s : Queensiand is. Queensland és. Rio de Jan 85 194 Rio de Jan 85 194 Pl Gr Do Sul $s.. Salvador 8548, . tulo City 8s. 1l Central ref 4s 111 Central 5% Int Rap 1ran 68 Int Rap Tr Gs stpd. Int Rap Trans Gs Int Rap Tran Int & G Nor aj 6 Int & G Nor 1at Towa Cent rf 4s Kan City FtS 4s Kansas City S 3s. Kansas City S 5s. Kan City Term 4s. Lehigh Valley 68 Louls & N uni 4s Louls & Nash 5% Louis & Louis § e Dept of bs Crotes Slo 5 td hmgm .,x-a"'s Ud Kingm 5%s '27 Ud Steam Copen 6s Uruguay 8s. . Zurich bs. N3sB. 1103 110% MISCELLANEOUS. Ajex Rubber 85 7 5% Am Agr Chem 5; 4 96 95 Am AgrChem :%s 9 £9% 284 Amn SmIt&R 1stbs. 3 92% ¢ Am SmIt&R 6s. 2 103% Am Sug ref 6 luu Am T & T cl tr 5 Mil Tl Ry & L 5= M&StLrf ex M StP & SSM bls. ! MStP & SSM -n 4s. MK&Tist4s..... MK &TprinisA. MK&T4sB.. MK&T6sC MK & T adj Mo Pacific és. Mo Pacific 556! Mo Pacific gn 48 N O Tex & M in 53 N Y Cent gen 3%s. N Y Cen deb 6: N Y Cen deb 4s. NYCenrt N ¥ Cent cn 4s'98. NYC&StL6sA New Havencd 6s.. New Haven d 4857 New Haven 73 New Haven7sfr.. 3 NYOnt& Wrefds New York Ry rf 4s. N Y Ry rfdsctfs... N Y State Ry 414s. NY W & Bos 4%s.. Norfolk & W cn 4 Norfolk & W cv € Northern Pac 3s. Northern Pac 4s. | Northrn Pacr i 6. Ore & Calif 15t O Short L on 55 '46. Ore-Short Liref 4s. Pennsyl gen 6. Pennsyl gen 4 Pennsyl 6%s. Pennsyl gold 7s Peoria & E inc 4s Pere Marq 1st 8. Reading gen 4s. .. Reading gn 4 zswl Rio G West cl 4 RIATK & L 4% StLIM&S 4s'29... SIL&SFpl4sA StL &S Fprin b StL&SF inc 6 StL&SF5%D. StL& SFadj6 StL&SFpl6aC. SULS W Ist4 St LS W con 4s St P Un Dep 53 San A& Arn P 4s Seabd A L 4ssta. Seab'd A Liref 4s. Seab’d A I.ad) Seab'd A L con 63 Sou Pacific 45 1928, Sou Pacific ref 4s Sou Paciflc clt 4= % | Southern Ry 1st 5s. Southern Ry gn 4: Southern Ry 6%s. Southern Ry 6a ct. Sou Ry Mobile 4s Third Ave ref 4a. | Union Pac 1st 4. Union Pac Istrf 4s Union Pacific cv 6s. Union Pac 1st rf 58 Virginia Ry 1st 53, Wabash 2d 5s Western Md 4s. Western Pacific 5 West Shore 1st 4s. Wheel & L E cn 4s. |Whel e LErf4%s 9 624 Wisconsin Cent 4s. 5 79% TOTAL SALES (Par Value): 11a.m.. 2995000 12noon 4 596000 1p.m.. 6835000 2p.m... 8967000 SHORT TERM SECURITIES. (Quotatious furnished by Redmond & Co.) 8 103 86% 82 68 991 Am T & T deb 53%s & Am Water Wks 58 Anaconda cv db 7s Armour & Co 4145 Armour of Del 5% Aszociated Oil 6s. v Bell Tel Pa 5s.... £1% 101 o Brier H St 1st 543 Bklyn Edison 7s D Bklyn Ed gen 5 Bush T Bidg 55 Calif Pete 6%s. Central Leather 53 Chile Copper 63 | Col Gas & El 53. Col Gas & ] 3s sta. Commonwth F 6 Consumers Pow 3. Con Coal Md st is Cuban-Am Sug Ss. Cuba Cane cv d 33. Cuba Cane cv 75 '30 Det Edison ref 6s. Donner Steel Du Pont de N Dugquesne Lig! Est Cuba Su Empire G&F Fisk Rubber 83 79 uhexan 36% 55 e wHoRAEERRSwannDEN 4 1005 109% 108 29% 3% Gea Elec deb 3 :g“: Gen Refractres 63. Goodrich 6%8. ... Goodyear 85 Goodyear §s 1941 Hershey 6s 1942. .. Humble O&R 53%s. Iilinois Bell 1st 5 Indiana Steel 5s. Int Mer Marine 6s. Inter Paper 5s '¢ KCP &Lt 65 A52. Kan G & El 6s°52 Kayser (J) is Kelly-Spring 8s. Lackaws S 63'50. Liggett & Myrs bs. Lorillard (P) 7s. .. Manati Sug sf 7 Marland Oil 8s'31. Midvale Steel 58 Montana Power b Morris&Co 1st 4%3 New Eng Tel 53 N Y Easn 1st 638 NYG EL H&EP 6s... NYG EL H&P 4s. NY Tel 68°41. NYTe16s"49. NY Tel 4%s North Am Ed 6 Dies 71% 104% 99% 7% 55% 0% 831 103% 101% 95 90% 61% 85 80% 6544 o DTS ARt~ -YEES © Nor States Pow 5s. Nor States Pow 6s. Northwsr B Tel 78 Otis Steel 7%s. Otis Steel 8 FEa8 Bl Pacific Gas & El b8 PacT&T lIstbs... Pacific T & T 68 '62 Pan-Am Pete s, Phil & Rdg C&I Phila Co 538 '38. Plerce-Arrew 8s. Pierce Oil deb 8 Producers & Rt 8 Public Service 5s. . Pub Ser Elec 68 wi. Punta Alegre 7s. Sinclair Oil 7s. Sinclair Oll 6% Sin Crude Oil 5%3. Sin Crude Ol 6s Sin Pipe Line 5s. South Befl Tel & So Por Rico Sug 78 Southwest Bell bs. Sug Est Orient 7s. Tenn Elec Pow Tide Wat Ofl 6%s Toledo Edn 1st 7. Union Bag & P 6s Unit Drug cv 8 US Rub 1st 1€ 5s.. U S Rubber 73s U Steel s £ 58, Utah Pow & L Vertieates Sug Va-Car Cham 7 Va-Car Ch 7%s w. Warner Sug 7s '41. Warner Sug 78'39. Western Elec 5s West Union 6% Westinghouse 7 Wickwire Spen Willys-Ov 6%s '33. Wilson & Co 1st 63 Wilson&C ov 7%: Wilson & Co cv Winchester A 7%: Youngstn S & T 6a. RAIL EXTENSION REFUSED. Permission to build an extension to its present line in Johnson county, Wyoming, was denied the Wyoming railway by the Interstate Commerce Commission today. The line would have paralleled an extension by the North and South railway recently autherized. Alaminum Co. of Amer. ;uminom Co of Amer. ‘opper_a mer. Oil 7is 18 ted Oil Gs 193 @, of Canada Dy 1935 Capadian Northern 3iy 1 Central Leather 5% 1025 Mil. & St Panl Gs 1631, R, L & Pac. bies 192 Columbia_Gas & El. ‘st s 1927 158 1931 Federal Sugar ke Eisher Body Corp. 63 1927 Pisher Body Corp. 6s 1928 Goodsear T. & R Ss 1931. Great Northern 7s 193. Guit Ol Cory. of Pu, Ss 102, Humble Oil 5%s 1 Homecott Commet 18 1930, Libby, MeNeil & Libby 7a M., 8C P, & 8. 5. M. 6148 183 Morris & Co. 7348 1930, New York Central 6s 1935, Oregon Short Line 1s 19 Penna.-Ohio Pow. & Lt. Gs 103 Penna. R. R. 7s 1930, Swift & Co. 55 10: Tidewater 0il 615 Baion Tank Car TU. 8. Rubber 73s 1930. Western Union 634 195 Westinghouse E. & M. 7s 1631 Wheellag Steel 65 1926 e 95% 102% 107% 96 113% 80 101 102% 89 96 61 31% 102% 95 9644 110 1079 65 9% 85 62% 102% 107% % 113% 803, 101% 103 89% 96 61% 31% 102% 95 96% 110 107% 65 98% 8% 65 63 62 2 102 101% 4 95% 95% ©® m S :5~3u~4wwm-mn-nu.mmz:; : o 22882 RE, 555 2 BaGaan & TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) —Noon——, Bid. Offer, . 1001-82 100 110570 1008 100% 100 37 100% 1001132 100116 100 582 100 23-32 100 25.32 * 100 19-32 100 11-16 1100 17.32 1008 o 101316 101 932 100 11-32 100 716 181 3132 101% D0 30 101 sz 4s June 16, 1924 53%s June 15, 1924. 5ias September 15, 4i4s December 15, 1924, 4s March 15, 1925. 4%s March 15, 1825 4les June 15, 1925. 4%s December 1 4%s March 15, 4148 September l @ March 13, s December ' 15, 1927 1937 | made 1Selmtc: Measure Requiring Semi- | not sure, or if vou 4| The measure, 80% | 103% | 99% | Y | san, | ‘| mand, ANCIAL. $4,481,502.48 TOTAL | $2,000,000,000 LOST RAILWAY NET INCOME BY FRAUDS IN YEAR Chicago, Rock Island & Pacific Re- | Director of Better Business Bureau ports Earnings for Year 1923, ' So Asserts in Public Minus All Charges. Address. 0 By the Associated Press. CHICAGO, April The balance | SALES TODAY ON D. C. CHANGE of income of the Chicago, Rock Island _ and Pacific Railway Company for 19 after the payment of all interest,| taxes and other fixed charges, was| $4,481,502.48, according to®the forty-' fourth annual report of the company Tnothe public Jast night. Full divi- |, "0 S5 S0E the Americe : dends o o $3,56.135 | G Rl LA = s amounting to § WeTe| stock and land frauds, Howard M paid, leaving a surplus for Profit|cgg) airector of the local better busi- and loss of $9 48. The Surplus|pees'hureau, stated in an address last was put into the property. night. This amount, he pointed out inomerating revenucs, the report said, | is nearly twice as much as was th The greatest increase Leing in | total lost through burglary, larceny freight revenue. Increased revenue,|petty thefts, embezzlement, forgers however, fell short of expectations |, e of o dua to the depression in the farm in- | 7 e T msthode ot roybery) iy ‘ Operating expenses increased | fraud. These figures are based on | the results of a survey by the N , or 4. - a ong to the rail- | tional Surety Company of New York the failure ; ; The majority of this huge loss, which s, the report said, the Interstate Commerce could have Leen prevented by those le | mission rate structure to produce | revenue sufficient to attract the new capital which is near for the trans- | : portation.” ety The government's order for lifetime | reductions and lubor's demands employ higher wages have kept the come |earnings far below the & - | contemplated by the law. report is €aster, Al said. 1t also condemned “the effort| clared, being dragged to fix rates by public clamor or for|a questionable scheme than politicul purposes” declaring the 1 o\ *5t M , . road suffered a $10.000,000 loss in|locate the perpetrators and them afterward Warns Loeal Investors. Sounding an air of caution to local 8 Mr. Cool stated that Wash- | ington’s business men are supporting the Hetter Business Bureau T which stands ready to help and of stock or all the inform ch a competent, as to its meri | National Mortgage and Investment and W. R. E. in List. last year the American pub- i was borne st able to afford to lose widows' funds f by old people or ¢ s working for savin rain modest always Con to avoid i to rest 1 products, adding that pular cry to help the but to do it by destroying ds is a poor policy, from farmer suffers most." (} HOUSE PASSES BILLS ON COTTON INDUSTRY| pro- ot get In partial decision fore buying. “If You are solicited to buy from | some one of whose integrity vou are | with what s Monthly Report on Product Now .\Ln Goes to President. fety or Bu: to help fc v all means ‘inves " he conclud Better whatever. before you The House bill last night passed the | providing for issuance of cotton reports by | | chapter rou the Department of Agriculture and | Temple, startin for their publication simultaneously | of the subjec | with the ginning reports of the Com- | this ¥ merce Department. The measure now | FIpximate goes to the President. ¢ Another bill passed by the House |or Thu | would authorize the census bureau |to take « census to determine the | amount of cotton in warehous other places and to make an estimate y conyenton of the number bales on farms. | “CG" v will conduct which was introduced review before credits ve Byrnes, Democrat, | Friday night in preparatic now the aminations for the ele- an Institute of » held tonight in the in the New Mz 150 sses will be held W On the forme ings" will be pr rroll Hall for the benefit tainment fund, wh the del to the national and offi- ar nominated wi on the ox enta final examination, 1o bLe | month Sales on I hundred a Mortga “Cnder the Senate bill approv the House acreage reports |upon the intention of cotton gro |to plant would be discontinued |reports of the Department of Agri- | the o |culture as to conditions, progress and | ‘he Waskington probable production of cotton would | mo A between | po cal Exchangze. | be sued twice a month, |July 1 and December 1 Between |August 1 snd December 1 the crop nd_ginning report would be made puhlh at the same time. The bill, which was sponsored the “cotton bloc,” will result, opinion of the House agr e committee, which recommended it passage, in_preventing. amons other things, violent fluctuation in pllrni” easier at due to ifferent interpretations of the | SUrance Company sold two reports. l‘l'l('l‘ Title a nd Wasain In its report the committee {that during the critical grow v;.i period of cotton crop weather and | other factors may greatly change the putiook within a week or so. i 1. . h The bill also provides for three|Sial)-—Fotatoes, wh cotton statisticians to act on the cot- | yani " hpp ton crop reporting board. The com- ‘ bbl.. 1 mittee estimated that it ‘would take | 12:5 e |about £ ! additional to provide | } | for sati r:qu(-r semi-monthly re- | 1i1), | ports, the bulk of the money to be used in defraying the expense for | additional statisticians and for their travel in the field: COTTON MARKETS. NEW YORK, April 22—A further| sharp decline in the cotton market |’ marked today's early trading due to low Liverpool cables, continued un- favorable reports from the dry goods markets and liquida a months presumably in prepara: for possible notices on Friday The opening was easy at of 28 to 39 points. After ‘regu}nrn)‘. active months sold 3 47 points net lower, with May declin- ing to 5 and October to Private cables attributed the w | ness in Liverpool to straddle sel d liquidation. Ho | pool “and New Orleans | were ‘sellers here during the trading. There also was 2 zood deal of local and Wall street liquidation. Trade interests were buyers of old crop months on a ®cale down. presumably to fix prices. but | liquidation " continued, th ket working off to 29 for and 23.98 for October during the | forenoon or 37 to 50 points net lower, Selling pressure then subsided and trading was_quieter toward midday with prices showing rallies of 10 or 15 points on covering. NEW ORLEANS, April 22—Cotton exchange closed here for election. LIVERPOOL, April —Cotton— Spot, quiet; prices easier. Good mid- dling, 18, fully middling, 18.30 middling, ‘17.50; low middling, 1 good ordinary, '15.95; ordinary, 15.45. Salds, 5,000 bales. inciuding 3,800 American. Receipts, 6.000 bales, in- cluding 1,100 American. Futures closed barely steady. Closing: April, 17.18; May, 16.95; July, 16.30; October, De(‘em,h(r January, monopol the. most part k sold to the extent of to T4l afte en soid s unchanged 4 Was pegge by | in the Trac Washi GRATN AND PROVINIONS, BALTIMORE. Md. Peas, hamper, 3.00a6.00. rices on red 10a4.15 per barre spot, 88; No. k corn, vellow ro\ for y | for whit corn, spot, No. spot, The bulk of is more or less nd is by the hay on damaged and |sold at rather irreguiar prices. good sound hay in timot mi and No. 1 clover there fair demand otations, no oversupply No. timothy 26.00a27.00; No. 1 clover mixed. clover mixed, 22.00a22 clove is still and i 50 per No. 2 clover, 23.00a24.00; 0426.00; N .1 .1.-\u, te oat, 17.00a18.00. CHICAGO LIVE CHICAGO, April (United Stat Department of Agriculture).—Hogs Receipts, 20,000 head; uneven, 5 to 1¢ mostly 5 off; bulk good and 5 ‘pound -h 13.70; = FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling £0ld value. cliecks today. 45655 {0 210 pounds, 140 to 150 pound $0a7.15 king sows s bulk good pound kind, Cattle—Receipts, 10,000 classes slow; beef steers steady; spots, shade lower quality, plain; most fed value "to sell,” at to 1 includes few Eood to choice Nebras- kas and Dakotas; some of these held around 12.00; fat she stock. stockers and feede: stead beet bulls, most quality i veajers, 150" pound ve iders: four to_feeder deal Sheep—Receip: fat full rondon, pound Montreal, dollar Paris, franc Brussels, franc. Berlin, ma Rome," lir Zurich, frs Athens, dr: Madrid, peseta. YVienna. crown Budapest, crown. ‘Prague, crown Warsniw, mark. Copenbagen, crown. .. Christiania, ‘crown. .. Stockholm,” crown. head; all barely Lulnm teer By the Associated Press, NEW YORK, April 22.—Foreign ex- changes firm. Quotations (in United States dollars): Great Britain—De- mand, 4.38%; cables, 4.35%; 60-day bills on_ banks, 4.36%. France—Demand, .0672; cables, .673. Italy—Demand, .0449; cables, .0449%. Belgium — Demand, -0574; cables, Germany—Demand (per 'trillion), .22%. Holland—Demand, -3701. Norway—Demand, .1390. Sweden —Demand, .2628. Denmark—Demand, -1664. Switzerland—Demand, .766. Spain —Demand, .1412. _ Greece — Demand, .0196. Poland — Demand, .00000012. Czechoslovakia—Demand, .0296%. Jugo- slavia—Demand, .0125. Austria—De- .000014%. Rumania—Demand, .0052%. Argentina — Demand, .3312. Brazil—Demand, .1130. Tokio—Demand, -40. Montreal, .93% 00 to out- Montanas dy to weak; r; good fat lam ;. good clipped 1 ‘choice fat wooled ewes, choice Hghtweight clipped ewes, few select spring lambs, 20.00a22.00. RAILWAY MAN PROMOTED. NEW YORK, April 22—T. W. Evans, assistant general manager of the New York Central railroad, wi offices at Syracuse, has been pointed assistant vice president, in charge of operations. He succeeds R D. Starbuck, who was appointad Vice president in charge of operations when P. E. Crowley was name Taent of the system. son, in charge of the Alban the’ road, will succeed Mr. assistant general manage sheep, wooled lambs, 11.00: an- Another - effdrt to merge all the shoe workers' unions in the United States into one crganization will be made at, a convention In Boston in ay.