Evening Star Newspaper, April 28, 1924, Page 20

FINANCIAL. STOCK MARKET DROP IS TRAGED T0 SHORTS Decrease in Bear Account, With Cessation of Demand, Bring Abrupt Decline. SHARP BREAK IN U. S. STEEL Other Important Groups Easily Re- cede in Quotations. BY STUART P WES Syeial Dispateh to The Star. WALL STREET, NEW YORK, April Today s abrupt decline on the stock cxchange was primarily due to the ces- ttion of the demand from the sho; which had played such a ent part in last week’s recovery. V he bear account reduced, as it Was very in- erest, prom- THE EVENING STAR.- WAS HINGTON, D. C., MONDAY, NEW YORK STOCK EXCHANGE Received py Private Wire Divect to The Star Office Daylight saving time in New York city Adv Rumley. ... Adv Rum pf (3). Alr Reduct (1).., Ajax Rubber. Alask Allled Chem (4). AIC&Dpt (7). Allis-Chalm (4). | Am Agri Chem. .. Am Agri Chem pt Am Beet Sug (1), Am Bosch Am Can 16) . Am Cun pf (7) Am Chain A (2). Am Chicle. . . . Am Hide & Lea:.. Am Hide & L pt. Am Tee (7) Am Linsced Am Locomo ( | Am Radiator (4) Am Saf R (50¢). lly after the five-point rom last Tuesday to Saturday, the mar- ket had become vulnerable again. When recent speculators for the rise tried to | this morning they found the buy poor. Within the first half ses Tan from a point to they were in- substar ng wer very ar the l¢ wints. Subsequently creased Sharp Decline in"U. §. Steel. The decline in United States Steel ommon was sufficiently sharp to rais he suspicion in some quarters that « directors at their meeting tomor- | w might have an unpleasant sur- <e up their sleeves. This, however was not the view held by most people +f substance. These continued to look for a 50-cent extra, the same as at ho last quarter, while admitting as « possibiflty that the falling off in ihe steel trade during the last month night influence the decision. Other el shares came down with the adjusting themselves to the rtainty that the second quarter will a period of considerably reduced profits. Other important quite as easily Luker and G hout equal degrec Irawal of th terest. The which w rave way Bald- Can, Stude- WU feit in of the the groups the ste American leetric the effect support from same Wis truc off 1. to nearly it taking comparatively lit to put them dowr ons Quickly Suspended. operations for sumed last w e quickly suspended. Unit Iron Pipe. after m close to §1 at the speciai the been + high Marine pr he market ength which contin Atlant f common and e persistent selling whi all alonz in Ame) <sues was renewed and was evidently Jmething more than 1 the general decline in the Rillway shares were fected way or the March trafic returns, many made unfavorable comparisons t f 4 Western rerre not other of which v al Norfoik ar 4 habit of mov 1t was decidedly when rest of markel turd; was Strong Slight Rally Checked. ghtly in but turne fn in the final hour. «The leading rinterests entrated their ef- forts mainly up teel common, real- izing that an exhibition akuess this stock on the evé of the divi- dond declaration would unsettle the » market estimates the the ecarly downward the Federal Re Board in monthly review the output basic industries dropped 3 per cent in March: that were down on nt and were came in comparison W ever. is of little both production time were abnorm: was e said ubout the comparison which most o the March railway orts, out to- made with the onth year, The brief inflation had reac its climax in March a vear ago and had its offect in temporarily swelling | the traffic movement of the coun MARKET SHOWS REACTION. its 1o and vorable Slackness in Business Ascribed as Basis. v the Associnted Press NEW YORK, April 25.—Off tion of lackening in_busine, \otivity which was contained in the March statement of the Federal Reserve Bank provided the basis for a sharp raction in today’s stock m par effective ir nd text concessions s was another - to selling movemen ted 600 share sumption of professional the steel s further pri ettled the 1 to 2 points were Bald- Woolen I and Generil Reported price by steel tribut- Sales ar at ainst based ris of conces- later Losses ket gistered b Studeb: tactrfe, American Can also came der sclling prossire and was foreed wn_a point United Stat Castr on Pipe, after advancin, to a w high level for the year. at 903 broke 314 points. Norfolk and West- “rn and several low-priced railroad | ssues gained fractionally. Foreign | “Achanges opened firm. | The market having lost much of ts technical strength by the =h xr{r rall closing days of last we jroved susceptible to bear pr which was vigorously ied, prob- in a de "t to cheek ing onerations L s and in- vestors who were becoming eonvinced that the market had definitely turn- cd upward. = Steeld, oil4, motors, chemicals and sugars hore the brunt of the attack: Davison Chemical, Wilis-Overland preferred, Yellow Cab, Stowart Warner, Ame: an Sugar Re tining, Tidewater and United St Stecl common all selling 2 or more points bélow Saturday's closing quotations. There were a few stocks which moved against the current irend, notably, Norfolk and Western, which climbed more tha 2 points, and American Tobaceo, up 1% inoney opened at 33 per cent. The closing was heavy Trading «uieted down somewhat in the, final our, with number of the leaders ral- ying slightly on short covering. NEW EXCHANGE OPENS. Baltimore Inaugurates Independ- ent Daily Dairy Market. BALTIMORE, April 28 ading on the Baltimore Butter and Exchagge, Inc., began Saturday and a 22-cent market price on eggs was established for the day o ales of butter were 4‘ullbumn‘1led Ithough theré was a bid of 37 cents thirty tubs of Western Maryland -score butter, offered at 38% cents. ‘he daily trading on the new ex- hange starts at 10:30 -and ends at 1:30 in th morning, with transac- tion in_each line being made simul- 1ancously. All trading is for cash and spot delivery, with no future deliv- cries permitted. Not less than 25 cases of eggs or tubs of butter are to be offered, & the manner of packing, quality of the goods, etc., are to be specified. Operation of the exchange gives Raltimore commission meérchanis a standard price for eggs for the first time in many years. —— The largest lumber world is in Chicago. The artificial silk industry in Ttaly | employs 15,000 workers. Gulf States Steel, n American (Special). — yard in the Am Ship & Com. . Am Sm & Re () AmS & Rpt (7). Am Stl Fiys 3) . Am Sugar...... Am Sugar pf (1) AmT & Tal (9).. Am Tobac (12).. Am Tob B (12).. Am Water Wka. . Am Woolen (7). Am Wool pt (7). Am Zinc. . Anaconda. | Arn Cons & Co. . =6 Dry Q 15 As DG st pf (6) As=0 Ofl (1%) ATT& S Fe (6) ATE&SFpf¢5), At Const 1, (7). Atl Fruitctfs. .. AtGuf& WI. . AtGulf & W Int Atlan Ref pf (7). Auto Knitter. .. ald Loco €7). .. ald Loe pf (7). & Ohly (5) 1l & Oh'Df (4) Harnsaall B Rayuk Cigar Beh Nut (2.40). tn Steel (5) .. h St pf (7) ... Booth Fisheries. Brk Edison (3). R k-Man Tran Man pf (6 Brklyn Un G (4) Brunswi Burns Br pf Bush T 1 Butte C & Zinj Butterick Co. ... Caddo Cen O & R Ch Pneu T (5) ... al et (1%).. Cal Pet pf (7). lahan 7 Lead alu & Ariz (2) .. Can Pacific (10) Cent Lea Co pf. .. Cerde PasC (4). Chand Mot (6) .. Ches & Ohio (4). Chicago & Alton.. Chic Gt West pf.. Ch Mi] & St Faul. Ch Mil & St P pt.. Chi & Nwn (4).. Chiz R1& Pac.... CRI&PDE(S). CRI&PDE (T). Chi Yellow C (4). Cnite Cop (2%). Chino Copper. .- Coca-Coia (7)... Colo Fuel & Iron, Col G & B (2.60). Col Carbza (4) .- Com Solv A (4).. Congoieum (3) .~ Consol Cigar. ... Consol Gas (5).. Consol Textile. .. Cont Can (4) Contl Motors(20¢) Corn Prod (10)... Corn Pred new Cosden Co. ... Crucible Sti (4). Crb Am Sug (3). Cuban Cane Sug. Cub Cane Supf.. Cub Dom Sugar.. Cuyamel Fr (4).. Dani Boone M(3) Davidson Chen. . Del & Hud (9) .. De! L& W (6)... Det Ed Co (8) Devoe 1stof (7). Dome Mines (2, Doug-Pectin (1) DuPtdeN (8) .. Du P de N db () Duq Ltetpf (7). Bast K (15%)... Eaton Ax (2.60). £1Stor Bat (4).. End-doun (5) ... End-Jolin pf Erie. . igrie 1st pf . #Famous Pl (8) Famous ”l pf ( FaM&Spt (7). Fitth Av I (64c) Fisher Bdy (10). Fish BO pf (8) . Fisk Rubber. ... Fisk Rubpfa.. Fleischman (). Freeport-Texas. Gen Asphait..... Gen Cigar (8)" Gen Cigar pf (1) Grn Elee (8) - Gen 1 sp8 (60¢) | Gen Mot (1.20).- Gen Mot db (6) ... Gen Petrolm(i). Giubel Br pf (7) Goldwyn Fict. Goodrich. . . | Goodrich pf (7). G'dyear pr pf (8) Goodyear Df. ... Gray & Davis. Gt North pf (5).. Gr Nor Ore (3)... Gr Canan Cop. Guantan Sugar.. Guif St Stl (6).. Hartman Co (£). Hayes Wh'l (3).. Housen'd Pr (3). Houston Oil..... Hud Mot C (3)... Hupp Mot C (1) Hydraulic Steel.. Iliinois Cent (7). indiahoma Ref. . Indian Motorcye. Indep Oil (25¢). Inland Stl pt (7) inspiration Cop. | Interb Rap Tr.... | Internat Agri Int Bus Ma (8).. Int Cement (4) .. Int Com Eng (2) Internat Har (5) Int Mer Marine. .. int Mer Mar pf... Internat Nickel.. Int Shoe (4).... Invincible Ol. ... Jordan Mot (3).. Ran City Soutd Kelly Spr Tire. .. Kenne Cop (3)... Laciede Gas (7). Lee Rub & Tire.. Leh Val (3%) Leh Val rights . Lig & My (new). Loews Ino (2) ... Lorillard (3).. . Louis & N'sh (5) Mclntyre (1), Mack Trucks (8) Magma Copper.. Mailinson & Co... Man Elec gtd (4) Maracaibo Ofl. . Mariand Ofl. Martin Parrs (4. Mathieson Alkall | Maxwell Mot A... Open. Hi| T 314 2% 95 93 87 304 100% 7% 1% Low. T 31w % 6 1 6914 11815 24 7% 22 39% 24 100 11 23 16 84 62% 91 201 104 144 il 97 6 1% 607 981a $4% 891y 834y 124% 142% 137% 46 97 82 87 30 100% 17 1t 15% 20 110% 1144 521 574 90 164 12 401 487 9% an 1 15% 60l 39 951 441 146% 65% 90 43t 114 204 991 6% 47 40% 8% B4ix 8315 12% ml\ 20 8 102% 2414 T21% Close. T 314 1% 6 1% 69% 114 421 8 2244 3914 24 10 11 16 84 5ate 91ty 10% 145 % 97 6 1% 60s% 95w 84l a1 84 125% 142% 1374 | Otis Btee! pf Maxwell Mot B. . Mex Seabd (50c) Mex Sbd ctfs 50c. Middle StOl. ... MSLP&SSM (4) .. Min K & Tex pf... Missourl Pacific. Missour! Pac pf. Mont Power (4). Monteom Ward. Moon Mot (3)... Mother Lode (1) Munsingw'r (3). Nash Mot (i814). at Biscuit (3) Nat Cloak & Suit Nat Dalry (3).. Nat En & St Nat Lead (8). at Supply (3). Nev Cons Cop. ... NOrT&M (7). N Y AIr Br (4)... NYABraAM).. N Y Central (7). N Y C-Readx rts. Y ¥ Dodk, ... Y Dock pf (5) . Y NH & Hart.. Norf & W (18) North Amer ( North Pac (5 Okia Pr & Ref 12815 6619 15 ni 48 49% | Otis Flavat (8) Otis Steel. | Owens Bot (3). 101 §8 117% 14 Pac G & B (8) Facifie Ol (2) Packard (K20).. Pan Amet (4)... Pan Amer B (1) . Fenn Ralird (3) Penn Seab Steel. Peop Gas Ch (1) Pere Marg (4).. Phila Co (4) . Phil Mor ( a0 Phillips Vet (1) .. | Pierce-Arrow o 1% 1141 b2t 90 16% 12% | 40% 483, B0% ¥30 4% 1113 15! 60 131 977w 904 Pierce OIl. Vicrce O pt. Pitts Ut pf 1.65 Vitts & West Va P& W Vapt (6) Postum Cer (4) . Press St1 C (4) Prod & Refiners. Pub Ser NJ (4).. Puliman Co (8) Punta Al Su (5) Pure Ol (1%) .- Ray Cons Cop. Reading (4)... Reading rts. ... Remington Type. Replogle Steel. .. Bep Ir & Steel. ... Reynoids Spr (2) ey Tob B (3).. Rey Tob pf (7) Rossia Ins A (8) | Roy D'teh (3.48Y 14734 38 StJos Lead (12) s vage Arms. Schalte (§8) board Air L. eab’d Air Lpf. . ears Roe & Co.. Sencca Copper. .. attuck-Atiz. . 11 Un Ol (1) heil Un pf (8) ... immons Co (1) Simma Pet...... Sinc Con Ol (2). Oil..... oss-Sheff (6).. So P Rico Su (6) South Pac (6) Southern Ry (5). South Ry pf (8) .. Spicer Mtg. . StOIl Cal (2) StONNJ (1), StOil N J pt (7). Sterling Pr (4) . Stew't War (10). Stromberg C (8). | Studebaker (10) Studebaker wi.. Submarine Boar. Superior Oll . Sweets Co of Am. | Tenn C & Ch..... “ | 44% | 108% | 114 10415 93y 15! 11 120 87 103 106% | 7% | 564 | 59 rexas €o (3). ... Tex Gulf (i6%) Texas & Pacific. . Tex & PacC & O. Tide Wat Oil (4) Timken (13%). .. Tob Prod (8) . Tob Prod A (7) Transcont Ol U § Distributing U D1stpf (3%). Utd Fruit (10). Utd Ry Invest pf. USCastlronP.. USCIPpt (7)... | US Ind Alcohol. . S Rubber. US R 1st pf (8).. U s Steel (15%). U S Steel pf (7) .. h Copper (4) Utab Securittes.. Vanadium Corp.. Va-Caro Chem... Vi-Caro Ch pf. .. Vivadou (§2).. Wubash. ... Wabash pf A Web & Heilb (1 West Penn pf (7) West Maryland. Western Pacific. . West Un Tel (7). West E& M (4). “Wh Eag Ol (2).. Wickwire Sp Sti.. Wilson & Co. I Wil&Copf.... | Willys-Overland. ! Willys-Over pf.... | Woolworth (8).. 12 L 101% | % 20 8 1021 24% 2 | % | 873 | 40% | 22% 8414 85 323 12% 73% 134 | 24% | 165,000 Barley | a1 Woolworth wi(3) Wrig W Jr (3)... Wright Aero (1) Yellow Cab (5 87 1 10% 57 7 5a High. Low. Call Money..... 4% 4% HOURLY SALES OF STOCKS. 1lam.....227,000 1p.m.....455,800 12m......329,100 2 p.m...516,200 tPartly extra. {Payable in preferred stock. Dividend rates as given in the above table are the annual cssh payments based on the latest quarterly or balf-yearly declarations. Unless otherwise noted, extra or special dividends are not included. GRAIN EXPORTS FOR WEEK Shipments From U. S. Up to April 26 974,000 Bushels. Exports of grain from the United States for the week ending April 26 totaled 974,000 bushels, against 1,- 861,000 bushels for the previous week. The Commerce Department an- nouncing the figures, compared with a week ago. as follows: Wheat, 4 000 bushels, against 920,000; rye, 000, against® 514,000: oats, gainet 1.000: corn, 242,000, against 8,000, against 261,000 Total Canadian grains in transit, 2,- 653,000 bushels, against bushels. PARIS BOURSE HEAVY. PARIS, April 28.—Prices were heavy on the bourse today. Three per cent rentes, 54 franca. Exchange on Lon- don, 67 francs 75 centimes. Five per cent loan, 70 francs 55 centimes. The was quoted at 15 francs 281 centimes. s g BOSTON WOOL MARKET. BOSTON, April 28 (Special).—More activity was reported from the west- ern centers, where. Boston buyers now are congregated today, than in Sum- mer street, although the mills in this section continued to take a fair amount of domestic wools. The fine ataple grades were in demand and the market was steady, | easier | ordinary, | Humble o1l S8 1 | New York ‘APRIL 28, 1924 FOREIGN BONDS LEAD I ON NEW YORK IN MARKET TRADING U. S. Libertys Quiet Since er Highs Recently Were Recorded. General Review. ny RGE T. HUGHES, Special Dispateh to The Star NEW YORK, April 28.—Foreign bonds took the leadership in today's trading. The feature was the French at the high of the vear under large transactions. Other French is- < were quietly firm.* There was a rtain amount of profit-taking, a natural consequence of the recent sustained rise. For the most part, however, it was well absorbed. It may be that the market will paunse now until the attitud of the French government toward the procedure un- or the Dawes plan is made clear. In the central Buropean group Jugo- sluv 88 went to a new high. Buying said to be from the same sources responsi bhie for the r nt advance. oslovak Ss we highe: Japa < were firm and Argentine s tractionally | riys More Quiet. i Libertys was quieter when all the active w highs for the vear. While all the government loans were firm, more interest was taken today in the high-grade rails such as New York Centr ri Central refunding R v 5 Southern dated 5% | and West Sh ame time prime indu were very Strong. United Sta steel sinking fund 5 old above the first in weeks. Specul compara- tively ven bonds made lit h traordi- for the first Missouri, Ka nts we and Ohio con- convertible S reac- other hand, Seaboard tirm suined Trading than last week issues made ne in tement vear On the issues were Practions Trregular. irresul ransit terborough Manbatian Railw ain. With Failways in and ihe s were Atian nd | Brook- were ovligutions 13 dropped - future of New York rninics ne could nwealth this special of New Iyn-Man strong weak helow the eleva 50 wit dec new high Service svement trensth in Publi $£1.000,000 F nd $1.600,000 Lok land bank COTTON MARKET WEAK IN THE EARLY TRADING £t included { 5« it 1011, Libw itral joint New York Prices Decline 36 to 62 Points—New Orleans, 43 to 57 Points. e A NEW marks ated B YORK, By decline | + decline | ng or| were atively favg contin T the recent more rop prospects and | oor demand for | riy trading \l..r new crop showed ’ s, October ables at- | to | favorable | uth and the ining to 2 © lnsses ¢ seliing off 1 tributed freer weather i00 deciin ts followed the = orders. but ain_later under The tone w: absorption s miarket weal renewal of lquidation ttled around midday worked up from the to 2962, sold back to around 2941 at midday months showed net los peints. A favorable v of weather tions inspired scattered selling, but new as relatively quiet at t declines of 35 to 40 points. eport d the acreage : an s of 4.3 p area picked last s Drop in New Orleans. NEW ORLEANS, April ton market opencd weak owing to the poor Liverpool cables. First showed losses of and 47 from Saturday's close, and prices 6 to 15 points additional soon the opening. v _trading down 20.40, July nd October or 3% te 57 points below the | ous close. Liverpool's weak ness was attributed by cables liquidation of May position carly break in the stock helped the ar tone after the ing. The market showed s better support at the end of the half hour of trading Liverpool Prices Easier. LIVERPOOL. April 28 —Cotton— Spot, moderate business; prices good middling, 18, tully 17.83; middling, low 16.48; good ordinary. 15.48 1498 sales, 7.000 baies. in- 5500 Amer futures dy. Closing—April. 17.2 July. 14.42; October, 14.1 anuars, ' 13.54; v decline and held to 71 to An | market | open- is of | tirst middlin middling, cluding closed 701 SHORT TERM SECURITIES (Quotations furnished by Redmond & Co.) Aluminum Co. of Amer. 7= 1 Ziuminam Co of Amer. American Sugar éis 1937 D \numAm’r an Ol Tt 1635 nted Oil 68 1005 11 Tel. of Canada 5% nadian Northern 51 sentral Leather - Chi., ML Chi., W Du Pont 7 Federal Sugar Ref. Fisher Body Fisher Body Goodyear T. & K. 8 (ireat Northern 7s 1 Gulf Oil Corp. of T M Oregon Short Line ds 1 Penaa.-Ohio Pow. & Lt. Penoa. R. et & o, Tidewater Oil Union Tank Car U. 8. Rubber Tis Westarn Union 6 Westinghouse B. & Wheeling Steel 68 19 $5,000,000 IN GOLD HERE. Third Shipment of Austrian Coin, Reserve Bank Reports. NEW YORK. April 28 —The third !mpmenl of $5,000,000 in Austrian Zold from Holland to arrive here within a month was reported by the Federal Reserve Bank today. No par- ticular significance could be attached to the movement, bank officials said, although it has been reported that previous shipments grew out of the Austrian loan which was floated a year ago. Several additional consignments are expected. D03 i Wiy New Haven Income Showing. BOSTON, April 25.—Futures given out by the New York, New Haven and Hartford Railroad Company. here today show the net income for March, with operating and non-operating income included, as $456.904. The net income for the first quarter of the year iz given as only $11,546, | Kelly- | Southwest Bell 5s. Received by Private Wire (Sales aro in $1.000.) UNITED STATES BONDS. 4 (Fractions represent thirty - seconds. Example: 98-3 means 98 3-32) Salea. High. Iow. Clow Lib 3%s. .. By 0923 99420 9 Lib1st £4s.. 193 100=11 100-6 100-7 Lib2d 4% 620 100-5_ 100-1 100-2 Lib 3d 414s... 1000 100-15 100-12 100~14 Lib 4th 414a.. 1184 100=11 1006 100-7 UB4%s1962. 598 101=19 101-14 101=15 FOREIGN. Sates. High ...100 101% 118 90% 72 Low. Close. 101% 101% 3015 90% 90 99 101% 101% 99% 99 102% 1024 109 109 8HY B8l 8215 82 FO% RO% o4r a9 99% Argentine 7s. .. Argentine 6537 Austria cane Belgiom 7 s Belgium Belgium 8. Bern 8s. .. Holivia $a. 99 100% 1014 Brazil T%s. .. Canada 5% 1926. Canada 5%s 1929, . Canada 58 1931. .. Canada 55 1952. Chile 83 1946, 103% | Chile 82 1926 Chilo 88 1941 Chile 75 1943. . . Chinese Gov Ry 55 Christianta §s.".. Copenhagen o4 Cuba 5%s Caechoslovakia 53 Danish Munic $8 A Danish Munic s B 2 Denmurk 8s...... Dennark 61 Dutch E | Dutch Easi 1 63747, | Dutch East I 6s'62. Finland s f 68 1945. Framerican 714s. French Govt8s... 7% French Govt 7%s. 165 Haiti 6s Japanes Japanese 2d 4% Japanese 4s. . Japanese 6% w 1. Jergens UM 65’47 Lyon6s.......... Marsellle 6s. icods..... Netherlands Gs 47 | Norway 8a Norway 651943 Norway 6s 1952 Orient Dev deb 6. Paris-Ly's-Med 63 Prague 7%s...... Queensland 6s. ... | Rio de Jan 85 194 Rio de Jan $s 194 | Salvador #s "48. Sao Paulo State §s. Seine Dept of 7s. . Serbs Crotes Slo 8= Swiss Confed 8s. wiss 58 1946, Ud Kingm 6%s '37. 27 100% 100% MISCELLANEOUS Ajax Rubber Ss 181 Am Agr Chem :les 26 X7i 92 91 w25 105% 103% 987y Y8 1178 117% 9t 344 100t 36 91 Am Repub deb 6s. . Am Smitk [ 1st 68 Am SmIt&R 6s. . Am Sug ref 68 AmT & T cv 6: AmT&Tcltrbs.. AmT & Teltrds. AmT & T deb m Water Wks 58 24 o4y 100 | Anaconda cv db 7s Anaconda 1st 6s Armour & Co 41 | Armour of Del 5% Barnsdall s f §3 Bell Tel Pa bs. .. Beth Steel 5%3 '53. Beth Steel rf . Beth Steel pm Beth Steel s Brier HSt1st5 Bklyn Edison "uh[ Pete 6%4s. Central Leather s Chile Copper 6s. CnG&E5'% Col Gas & EI Col Gas & El bs = Commonwth I 6. Con Coal Md 1st o8 Consumers Pow os Cuban-Am Sug § Cuba Cane ¢v d is. Cuba Cane cv 7530 12 Dery (DG) Ts.... Det Edison ref 6s. Du Pontde N 733, Duquesne Light 68 Est Cuba Sug 7%3. Empire G&F 735, Fisk Ruoberss... Gen Elec deb & Gen Refractres 63 Goodrich 6348 Goodyear 831931 Goodyear 8s 1941 Hershey 68 1942. 10555 107% 104% 106%. 814 1004 100 | Humble O&R 534s. | Lilinois Bell 1st 5s. Indiana Steel bs Int Mer Marme 6 Inter Paper s "47 KCP&LIBSAS an G & El 68 62 pring $s. Lackawa S §s'50. Liggett & Myrs os. Lorillard (P) . Lorillard (P) Magma Cop cv Manati Sug st 7 Mexican Petrol Midvale Steel Gs Montana Power &s | Morris&Co 1st 43 100% a8y 110 10574 1063, Nat Tube 1st 58 New Eng Tel 5 N Y Eusn 15t 63%s. NYTel6s'4l..... NYTel6s'49..... N Y Tel 4%s. 2 North Am Ed s North Am Ed 6%;s Nor States Pow b3. Nor States Pow 6s.. Northwst B Tel 7s. Otis Steel T%s. ... Otis Steel 88. . . Pacific Gas & Ei v Pac T & T 1st 6s. Pacific T & T 58 '52 Phil & Rdg C&! bt Phila Co ref Us Pierce-Arrow 8s.. Producers & Rf Ss. Public Service 5s.. 72 Pub Ser Elec 6s wi. 21 Punta Alegre 7s... 26 Sharon St1 H §s Sinclair ON 7s. Siaclair Ol 6%s. Sin Crude Oil 5% Sin Crude Oil 6s. .. Sin Pipe Line 58 South Bell Tel 6s.. So Por Rico Sug 106% 944 92% 987 2 102% < 107% 94 98% 913y 9TH 101t 100% 0% 863 9815 8 u\s 957, 104 931y 1044 95% 108 96 801 1013 103% Steel & Tube s Union Bag & P 63.. US Rub 1st rf 6s.. U S Rubber 7% USSteels16s.... 189 Utah Pow & Lt 5s. 1 Vertientes Sug 7a. 1:’ 23 ‘Warner Sug 7s'41. 2 Warner Sug 79'39. 13 . 10 Westinghouse 7s Wickwire Spen 7: Willys-Ov 63%s '33.. Wilson & Co 1st 68 16 Wilson&C ov T%s. 16 Wilson & Co cv 6: Youngstn S&T6s. 7 e e RETAIL TRADE “SPOTTY. BALTIMORE, April 28 (Special) — Retail trade here was “spotly” last week, While there was a.tondency toward quietness in a number of lines, good sales were noted in others. Complete reports of Easter business BRow. thiat many siores exparfenced unusually heavy trade. Candy, flow- ers, shots and better quality apparel were in great demand, and totals in these lines are believed to have run well ahead of last year. 63 84 - 62% 58 9% 94% | 91% | 93% | Direct to The Star:Office. RAILROADS. Sales. High. Ann Arbor 4s.. Atchison gen 4s... 2 Atchison adj 4s Allantic C Lci 45 B&Oprin3%e B & O gold B & O 6; B&Oc B & Oref B &0 PLE&WYV 43. R &0 SW div 2%#. Bklyn-Manhat és Canadian North 7s | Cuaud North 64s Canad Pac deb 45 Car “linch & O Gn. { Car Clinch & O 67 {Centof Gass. ..... | Central Pacific 43 | Ches & Ohic cv ba. | Ches & O evatin. . i & Alton In. ... | Chi & Alton 3% . Chi B&Q gn 45 68, Chi B&Q It rt 6 Chi & 11} gn b Chi lema Chim & ChiM & ChiM & | Chi Mas L1 4 t P ev s, 10 4n 2 P ev 4y P s CM&StP gn 434 CM&St1 b 4n. ChiM & St P Gs wi [Chi& NWis Chi Ry bs..... {Chi RT & Pacrt 43 H & SE fis. .. Chi Un Sta 6%s. Chi & W Ind cn 42. StLrf s A. . Cuba R R 55. Del & Hd istre 4n. Del & Hudson 53 Den & Rio G cn 4s. D&RGstre5s. .. Det United 4 % Erie 18t con Erts con ext 7s. Erie gen 48 ErieconvesA.... rie conv 45 D. Gr Trunk sf db 63. Gr North gen 7a. . Sr North genGl4s. . ilud & Man ref 58 Hud & Man a) 111 Central 11 Cent ref int Rap 114 Int Rap Tr Gs stpd. Int Rap Trans 6s.. Int Rap Tran 78 Int & G Nor aj 6s.. Int & G Nor 1st 6e. lowa Cent 1st 5s iKan City Ft S 4s Kansas City S 3 Kansas City S 5a. Lake Shore 45 °28 nore 43 ‘31 Lehigh Valley 6s Louis & N uni 4s Louis & Nash 7s Louis & N 58 B. . 101% 6104 61 6% 851 464 10275 91 107t Manhat Ry cn 4s. M & St L 15t ref 4s. MStP & SSMcn 4s. MK&Tistds..... MK&Tprinbsa. MK&T4sB..... MK&T6sC. MK & T ad) 5s. Mo Pacific 6s. ... Mo Pacific gn 4s... 93 Montrl Tm 1st 5a ew Or Term 4s $ O Tex & M in 58.. N Y Centgen 3 N Y Cen deb 6s. Y Cen deb 4s. N ¥ Cenriss. N Y Cent cn 45 "95. N Y Cen LScl 33s. NYC&StLEsA New Haven cd 6s. ew Haven d 45 '57 New Haven7s..... New Haven 7s fr. N Y Ont& Wrefis New York Ry rf 4s New York Ry 2 58 N Y W & Bos 4%s Norfolk & W cn 4s orfolk & W cv €. Northern Pac 3s. Northern Pac 4s. Northrn Pacr i fy. Ore & Calif 15t 3a.. O Short Lcn bs "46. Ora-Short L ref 4s. Ore-Wash 1st rf 4s Pennsyl gen 68.. Pennsyl gen 4% Penusyl 6%s. Pennsyl & Peoria & Pere Marq 18t 5 Reading gen 4s. ... Reading gn 4laswl 30 RIATK& L 4% t LI1M&S R&G 4. | Seabd A Lissta. . Seab'd AL ref 4 Seab’d A L adj 5s. Seab’'d A L con 6s Sou Pactfic 4s 1929, Sou Pacific ref 4s Sou Pacific clt 4s. . Southern Ry 1st 6a Southern Ry @n as Southern Ry 6%s.. Southern Ry 6s ct. | Third Ave adj fs... Union Pac 1st 4s... 11 Union Pac 1st rf 4s | Union Pacific cv 6s Union Pac 1st rf 5s Virginia Ry 1st 5s. Wabash 1st 5s. Wabash 2d bs... Western Md 4s. . .. Western Pacific i West Shore 1st 4s. Wisconsin Cent 4s, 5 101 99 a1 617 84% 811y 79 TOTAL SALES (Par Value): 1lam.. 000 12 noon 1p.m.. 6338000 2 p.m. OREIGN BXCHAN ruished by W. B Nominal | v gold val Vicapa, Urown 5 | Prague, ¢ | Warsayw, ‘mark { Copeuhaen, crown Cliristianta, crown Stockbolin, orown By the Asso w York. changes easy. Quotat States dollars): Great mand, 4.38%: cables, on banks, 1.35%: 0644: cables, .0643 | 0447; cables, 044712 Be mand, .0537; cables, .05 demand (per trillion), demang, .31 Norm Sweden, demand, mand, " 1677; | Switzerland, A776%: Spain, demand, demand; . .0202; Poland, .0000001 zechoslovakia, 1029216; Jugoslavia, Austria, demand, {demand, 0052 % ; | 3287, Brazil. demand. | démdnd, .39%; Montreal, April ons 0000141 ; i ¢ K supply of Américan grain fol Wheat, decreased 2,043,000; creased 1,960,000; oats, decr 000: rve, decreased 505,000; Barle creased, 115,000, - 7560000 Hibbs & Co.) 23, —Koreign Britain, 4.38%; France, demand, .1375; Denmark, de- .1374; Greece, demand, Argentina, IBLE SUPPLY OF GRAIY. NHW YORK, April 25 —The visible owing changes in bushels Low. 58% 87% Bl% 8314 97% % 101% 101% [ Yl £3% | 594 B% 58% | #2% | 62% 73 B1% B6% 49% 105% 5% 77% 115% FINANCIAL. _ PLAN SHOWS PROGRESS. Report on Co-Operation in Fruit .and Vegetahle Marketing, CHICAGO, April 28.—Progress in co- operative marketing of fruit and vege- tables in thirty-nine states was out- Federated Fruit and Vegetable Growers for 1923, the first Citing a volume of 33,510 cars of produce from thirty-niffe states mark- eted in 772 cities and towns, the report, which is indorsed by the American Farm Bureau Federation, also points to an indicated increase in tonnage for 1924 of approximately 30 per cent. 1. W. Jefrers, president of the Gar- den State Potato Exchange, New Jer- ney, was elected president. ” Arthur R e manager. OB . Gray Silver, Washington sentative of the American Farm Bureau Federation, and Henry Morganthau, jr. of York, son of the former American am- bassador to Turkey, were named to the directorate. DRY GOODS MARKET DULL. EW YORK. April week opened with an extremely mestion in the Worth street market for cotton cloths. showed little change from S range, with 8% cents ¢ 60 and 103 for Greater activity reported raw =ilk in cabies from @and this was reflected in an advance prices here of approximately 5 a4 pound above Saturday’s for all exeept C were $6.15, $6.10; extra, $6.00; No. 1, $3 (Special).— T dujl turday’s for €4x best 4% 1024 97 100% H9% a7% 88" 65 1064% 8% 65% 104 107% 95% 8214 607% R6% 101% 1014 61 1025 91 1074% 1004 | qu bS 1031 99% 10. s B 101 1% 1097 1083 29% 94% 904 894 76% 79% £8Y% 681 823% 634 s2 721 9% 611y 84% 80% 9% 4673000 GE Sell checks today. 4.29% 38 1516 U648’ 0554 20 tritlion. 448 1780 e ex nited de- sixty-day demand dcmand, gium, de- Germany Holland, (in U demand, demand, demand, L0124 Rumani demand, 25:_Tokio, 8 17 shows the PERMITS GRANTED BY I. C. C. Authority equipment certificates !ined today in the annual report of the | year of its operation. | Quotations | in | Yokohama | New | the first haif of whicl | | ban ntons. | have $20,100,000 of was | ranted 1o the Pennaylvania Railroad | today b Commis Compar Commerce cates will Le issued Trust Company not less than 97.56 per « acerued dividends The Long Island Railroad Compan as authorized to i $1.875 the, on. The by th will b erstate | certifi- | Fidelity sold at par and at not less than 9 and acerie per cent of CHICAGO GRAY CHICAGO. Apri benefiting plant growth mestic winter crop belt wheat prices t during dealings. No attention w reports of dela¥ to farm work Canadian thwest houscs were on behalf of opening wh lower to a sh to 1.033% a was followe setback Increased pres ened the corn T | mand was still light % 1o 1 cent off. May T prices underweat a material decline Oats held loft” to 1 to 45%,a46%. 1o _the nitial Prov ations WHEA' May 3 Borestier CORN MARKE 28 —Heavy in the do- the early <sion s. The ranged from advance, May 1.03 July, 1.05% 4 ‘moderate h % | general Eastern de- cudy; star advance id then Eures = May at % on hogs RAIN AND PROVISIONS. STIMORE, Md. April 28 t white, 100 (Spe- 0: new £ b 1.5023.00. 5046.00. Beans. by 4.00a6.00. Kak busket, 4.00a6.00. and toes Asparagus, doz.. 0ad flow plants bu Onions 1.00. | ing 500 OF | Thes caulpment trust cortificates to be sold | Depurtin par | | positors rains, [ P2SHOR given to | the w mostly | tel t % | the to 103%, | tion |ing weak- | for this conve e > d After openlng lurlh:r‘ 463 | holding near ns were depressed by lower | pounds, | sweets spring hamper, 2.60a5.00. Radishes, 3.50a4.50 3.0085 1 pinach, Tomatoes. 2 Apples, pucked, 4 50 50a1.40; box apples. 1.90a2.50. | fruit, box, 1.50al Oranges. 2.50a8 Strawberries, qt.. Settling Prices on Grain. | . 3 red winte [110% red winter, garl | mestic, no quotations r No. d winter, garl ales. Corn . new, 1.25. for vellow and 4.10a4.15 per barr white: corn, €pot. : {corn, ' track No. 3. 90 |~ Sales—s00 |clal at $6k |No. 5 white Oats—No. white, new. 57a57 Rye—Nearby, 10as0 box. on icky bushels white per_bushel 833 spe- No. 2 rye none & more or I inferior and regular prices. in timothy, the hay damaged | sol T | Fo0d." sond nay | mixed and No. 1 |fair demand at full no_oversupply Quotations: No. 1 t:mothy |:28.50; No. 25.00; No 5.00a26.00 00a27.50; quotations No. 2. | 26.50a27.00 . er, mixed, 23.00a24.00 Straw—No. 1 straight rye, 2 25.00 per ton; No. 1 tangled rye, 18.00a 20.00; No. 1 wheat, 18.00a18.50; No. 1 oat. 17.00a18.00. DAIRY PRODUCTS. BALTIMORE. April 28 (Spe Poultrs—Winter chickens, pourd, 40a4: 5a55 ; leghorns, 40a50 hens, 28a2%; leghorns, : roosters, old, 16ai7 Pigeons, pair, 15a30 each, 40a60. (loss off) - dozen, 22 | fowls. Eggs 13, nearby duck and 21 ative southern, Butter—Creamery, good to fancy, 362 40 nearby creamery, 33a37; prints, 40 ladles, 28a30. rolls, 2¢a2s; store, dairy prints, 26228 ; process butter. 3 |U.8. TREASU'RY CEB.TIFICATES ed-by Redmond & Co.) ——Noon.—— Bid Ofter. 100116 100k, 100 516 100 1816 100 100 100 (Quotations fur Jone 18, June 15, Soptembder. 15, 14: 100 1116 101 1132 100% 101 3732 101% Mareh 15, BOSTON STOCK MARKET. BOSTON, April 25 —Following is a ist of today's highest, lowe: closing prices for the most stocks dealt in here active Low. Close: Am Wool ... Am Tel & el Tinoskeag Arizona Com Boston & Alhany. Boston & Maine. .. Bostan-Elevated Calu & Heela Copper Range . East Dutte ... Eastern S . Edison Elee . Isiand Creek G esotn Mass Gas . S Mayflower 0 C......0 Mevican Investment Mobawk 5 at Leather.. Cornel N. H. 0ld_ Dominion. Pacific Mills. . Superior & Boston Swift & Co... Switt Intertational... 12 835 W oy ds- eased, 924, de- S. Smelt tora Oil. dorf “Walworth Warren Bro: voung Ducks, | Guinea | bu.. bu., | Grape- | on a 4.30 per barrel | 1 for 3 vellow, bushels The bulk of | 4= selling S8 W being | & For clover | clover there is stili ana o. 1 light clover, | Uchl -uql]n’ 1.00a | RiERS. { | | | committee v | genthaler | sold at s e | spot. | | properties { by s Der, 1 D. C. BANKS T0 SHOW DECREASED DEPOSITS Approximately $15,000,000 Wil Be Utilized in Liquidation of Taxes for Year. FINANCIERS MEET TONIGHT Dealings Today on Local Exchange Somewhat Inactive. The Dis ban fraternity will lose approximately $15,000,00 in depos its this year on account of bank taxes, h will be payable ;mm month. with the balance falling d n November. It will be lost because the EOvernment refuses to redeposit taxes in local institutions, as is every other community in the Unite State: e funds. tnerefore, will taken to the Treasury, there to be lovke 1 the country’s coffers. coustitu or less dormant mone The practice of taxes paid by local institution which was in vogue for twlnty vears was discontinued four vears ago, when the Tre was runntng on_deficiency ince that time Washington bank mada every effort, both ind and concerted. to have suc pr revoked, but al avail. . Parker Gilbert, for undersecretary of the Treasur: uffed the latest effort with a terss Treasury needs the mons Banks Need the Funds. Watshington banks sorely need thes funds, It was pointed out this morr that for every dollar withdraw locally meuns the destruction worth of credit, which in turn mean heavy borrowir onal bank from their attendec by a1 f interest rate the Treasur unjust edict . in the as well 4 per cer t paid to ar institutio redepositing vid | drast to no me. re is bor: public here pa intere national per cent ¢ less while are taxed 6 on earni | earninzs eased down | 4 Bankers 1o Meet Tonight. nkers' Associatior annual spring meetinz the Willard room, Willard Ho night at § o'clock for the pu hearing sem al reports of various committees of the ass ciation prior to the annual conver to be held in June. A buffe supper will follow the business mee It is expected that final plan he 1 hold it in pose at tonight's meeting While the real purpose of the cor vent is the discussion of bankinx and omic topics of interest to th local banks, there be ample time | for pleasure creation for those who attend = general conventio: ich Robert V. Flem | ing chairm has_arranged for morning b ssions on Thurs Friday and Saturday. giving th days and Sunday toring, swimming Four musical pro pictures in th al feature grams daily ballroom nig ing. Banguet Sat sired that ever ted wc this_conven number of its o ectors with their wive bank be tion by ficers daughters Pullman We g5 ,‘ train will lea evening at Whit for breah Returnin leave White Sunday eve Washingtor nday, June ual will be Pullman fare both way Com commoda drawing a modating two only, $1. ommodati are limited Washingte June 4 Sulphur Spri srsday morning wil not later than The cost per This and railroad and hotel ns and remittance should J. McQuade, chairr commi care al Bank, h streets northwe: Today on Local Change. Trading on the Washington change this morning proceeded ith a drop on the part of stock of the Continental Trust Company th feature. This issue eased off t on the initial sale, thence to § subsequent transaction involv ing ten res Railway common was extent of ten the preferred T4 nd kY hile sha at 71% sold in_small lots a Four_ shares of Mer 1 at and_Capita br - Nation an and fift ard National Bank the unlisted departim Bords were Traction | Mortgage s purchased ¢ nt firm but yward to Maryland v March_after of $12 against §156,985 1 . Personal Mention John B. Larner, president ashington Loan George O. T Liberty Nationa Saul. vice presi Security _and Trust Joshua ¥vans, jr, vice president o ro attending the annua spring mesting of the executive cour cil. American Bankers Association held in Augusta, ¢ year. A are members of the 1 Milton E. Ailes. president of Riggs caves on Wednesday for a month a his farm in Jefferson county, W. Vu Daylight savings hegan on the New York Stock Exchange this morning which has the local effect of openin: Washington offices at 9 am PLAN TO REORGANIZE L. R. Steel Stockholders to Bid for Company’s Assets. BUFFALO. N. Y, April 28 —Wher all the assets of the L R. Steel Com pany. Inc., and the Steel Realty De velopment Corporation are offered for sale by federal court receivers Wednesday. April 80, at 2 o'ciook, it is expected the only bidder for the will be the L. R. Stecl Stockholders' Protective Trust, which plans the reorganization of the eom panies under the name of Steels Con solidated, Inc. with a capitalization 0,000. to $200.000 has been advance the protective trust to the fed eral court reccivers to make a 20 per cent dividend payment to Amer: can creditors, and this, it is declared will be applied on the purchase price, together with the assignment of al most $1,000,000 worth of claims against the major American and Can adian I. R. Sicel companies, which have been acquired by the stock holders at o discount of 50 per cent or lese. The additional funds to be advan the protective trust out of ite total assets of more than $1,350,000 will be used to pay administration expenses and pay a dividend to creditors whose claims have not been assigned to the stockholders’ com- mittee. Whether or not this amount will be sufficient to pay 50 per cent t these creditors has not yet been de termined. Complete plans of reorganiza will be announced by the 'protective trust committee carly in May, when the mew company expects to start functioning. orn FISHER'S INDEX PBICES NEW HAVEN., Conn., April 28 — Last week's prices averaged 145 per cent of pre-war level. The pur- Chasing power of the dollar was 6.6 |.pre-war cents. Crump's index num-