Evening Star Newspaper, May 12, 1924, Page 22

22 FINANCIAL THE EVENING STAR, WASHINGTON, D. C, MONDAY, MAY 12, 1924 FINANCIAL _OIL AND STEEL TODAY { CENTER OF:INTEREST. New Low Prices for Year Recorded on Change jf.Both Greater Part of Railway List sists’ Pressure. i BY STUART P. WEST. Special Dispateh to The Star. NEW YORK, May 12—The stock market closed heavy today, and in: nu- merous instances weak, after a session in which prices moved generally down- ward Tn view of Saturday's exciting happen- trgs, ofl and eteel shares were natural- Iy the center of interest on the stoek exchange today. ‘In’ both groups new low prices for the year were made. In the case of the oils, the stocks which sold lower than at any time in 1924 in- cluded Cosden, Marland, Texas Com- pany and Skellos. £ The weakness in the last named was especially notable, following so soon the publication of the statement for the March quarter, which made a good showing and which was &o- companied: on the outside by opti- mistio- comment regarding the future. Further Price: Cut Doubted. Tn view of-the fact that many good judges have gone wrong on the oil situation, opinions as to whether there would be more price cutting or hiot were received with a good deal of qualifications. The preponderance of these opinions, however, was that| ¢ cut in the mideontinent Geld was Sufficiently radical to ac- omplish the purpose—namely, to discourage new drilling. Steel shares were heavily sold from sources which had mot had time to act following the appearance of the tonnage figures on Saturda The comment gencrally made was that even all that has been sald about the rapid falling-off in steel produ tion during April had not been suf- ficient to prepare the street for a shrinkage of nearly 575,000 tons in unfilled business on the books of the Steel Corporation. Steel common had dropped from 97 to 964 in the last fow minutes of Suturday's session. The opening Sales today were at 95% This was the previous- low record for the year, and there was quite a struggle around this figure before it was finally broken. Bethlehem Steel sold below 47 for the first others, like « f State Crucible, either equalled their former lows American Can Gives Way. American Can, which had been better supported than most - others heretofare, at lepgth gave way with the rest. The process of readjusting Baldwin Locomotive to & more suit- able selling levwel as a 7 .per ock with no chance -of an increase ontinued. The old Studebaker ceased to be d in, but the new was and somewhat the' 2i-cen, ublic and urpassed in vhich came within 2 points of the low- ever sold. Less than, two lic_ president of the spoke of the growing-re- the ability to main- ou the incteased about the same time that dent of the Stewart-Warner made a re atement, which did not reassure. Stewart- Warner stock was selling around 80 then. It broke bagly today, well under 69. Ralls Resist Selling The greater part of the railway list continued to resist the selling movement. Atlantic Coast Line was bid up across 12 on talk of a stock idend like that of Louisville & ashville. Atchison had a remark- able rise to 103 in the bellef that an incre: to 7 per cent later in the year is reasonably sure. BEARS HAMMER SHARES. Individual Issues Attacked in At- tempt to Intimidate Buyers. ted Press. May 12 —With bear speculators hammering _individual shares to intimidate buyers in the sarly afternoon, the market showed little recuperative power, although ene Electric came up 3 points from its carly low level. ri Warner was forced down 1655, n new low price for the \d other motor ac ry is- « also under pr ed u reactionary tone at opening in reflection of speculative disappointment over the form of the tax bill d by the Senate and the defeat of the loincare ministry in the French election. Selling orders were well dis- tributed throughout the list, losses of a peint or more being recorded by du Pont. Crucible Steel, Phillips Petroleum wnd Colorado:Fidla. By the Assoc NEW YORK, Losses of Point or More. Active selling for both accounts took place during the first half hour, more than a score issues refistering Josses of a point or mome. New. 1924 lows were established by Bethlehem, Gulf States and Republic &teels, Cos- den, Chicago Yellow Cab and Stude- baker (new stock), the declines rangs z from | to 3% points. The first la of U ed Siates Steel cormmon was a block of 5,000 shares at 9512-%, as compared with the close of 96% on Saturday. General Electric broke 3 points and American Can, Baldwin, American__Sugar _ Refining,: -Mack Truck, Chicago Northwestern "and Northern c were among the many is to lose a point or so. New Orleans, Texas and Mexico, up 1%, was the only outstanding strong spot. Foreign exchanges opened weak, French franes breaking nearly 50 points on the defeat of the Poin- care ministry. Other Contributing. Factars. The drastic_decline in the unfilled orders of the United States Steef :Cor- poration and a cut in_crude ail prices also were contributing factors to the morning selling. Additional new low records for the 'year were ostablished by United States Steel common at 95%, off 1% Baldwin at 1.07%, off %, and by Stewart-Warner | and Marland, Invincible and Skelly oils, the los ranging from-:large fractions to nearly 4 points. Wool worth broke 63 points and American Beet Sugar 2%. Prices steadied around noon when a brisk demand developed for the in- vestment rails, Atchison agsuming the leadership of the upward mevement in that group by climbing 2% .polnts to 3.03, a new 1924 high. Atlantio ast Line touched a new top. -at 3.25% and Southern Pacifio, New York Central and Norfolk and West- ern_moved up a point or so. The Yellow Cab issues recovered ‘their losses and moved to highet Call money opened at T% —— BOND OFFERINGS TODAY. “~ NEW YORK, May 12.-Bond offer- ings today were headed by a new ue of $2.000,000 State of Alabama 41 per cent highway and _bridge bonds, due December 1, 1926-1829, priced to vield from 4.30 to 4.50 per cent. Others included $1,500,000 State of West Virginia highway 4% per cent gold_bonds, due April 1.°1929- 1948, at prices to yield 4.35 per cent; $1.500,000 Jersey City 4% per cent and 4% per cent bonds, due 1927, priced to yicld 4.30 per cent; $700,000 Los Angeles 65 per cehtCbohds, due 1941-1961, at prices to yield 4.55 per cent, and $310.000 Nashville, Tenn. 5 per cent sireet improvement bonds, due 1930- per cent. Bes time. and | cent | 953, at prices to yield 1.85 | Magma Copper Adv Rum pf (3). Ajax Rubber. ... TAlaska Junemu. .. Allied Chem (4 ) Allis-Chalm (§ -AIC& D pe (7)., Am Agri Chetpt, 22% AmBNpf(3)... 5% Am Beét Sug (4) " Ant Zosel”, AmBrE & F(5). Am Can (£6).: 2 I\;‘;' Am Can pt ( Amca&F as).. Am & F P 25%(7) AmHide & L pf. . Am Internatl Am Linseed. .... Am Locomo (6). Am Metal (3)... Am Radiator (4). Am Saf R (500). Am Ship & Com. Am Sm & Re (5). AmS & Rpf (7). Am Stl Fdys (3). | Am Sugar....... Am Sumat Tob. . 5% 1% 158 94% 63 21% 14 98 40 96 6 12% 62% 98 843 42 12 Am Tobac (12) .. 139% Am W W pf (6). Am Woolen (7)., Am Wool pt (7). Am Writ Pap pt. 69% 64% 9% 24 T 26% 32% 85 9% 92 29 100% 8814 12¢ 1% 16% 19% 106 48% 20 Am Zinc. Arm pf Del (7) Arn Cons & Co. . . Asso Dry G (5).. Aso Ol (1%).. . ALT&SFe (6).. AT&SFpt (5). At Coast L (7). Atlan Fruit fs. . [AtGult& WY... AtGulf & W Ipt Atlan Ref 71), ., Atlas Powd (4). Austin-Nichols. Bald Loco (7)... Bald Loc pf (7). Bal & Ohlo (5) Barnsdall A Barnsdall B..... B'ch Nut (2.40).. Beth Steel (5) . Beth Stl pf (7) Beth St] pf (8) Br Em Stl 2d pf. | Br'k Edfson (8) .. Briyn Edison rts. Br'k-Man Tran. . Br Man T pf (). BrklynUnG (4) Brown Shoe (4).. Burns BrB (2).. Butte C & Zinc. . Butterick Co. Caddo Cen O & R. Cal Packing (6). Cal Pet (1%). Cal Pet pf (7). Callahan Z Lead. Calu & Ariz (2).. “alumet & Hecla. 109% 114% (3 15 13 46 474 92 . 105 8% 1% Case Thrs'g pf. .. Cent Leather Co. Cent Lex Copf. .. Cen Rib M-(50¢) . Cerde Pas C (4). Chand Mot (6).. Ches & Ohio (4).. Chicago & Alton.. Ch & East Il pt. . Chic Gt West. | Chic Gt Wast pt. . Ch Mil & St Paui. Ch Mil & St. P pt. Chi& Nwn (4)... ChicRT& Pac. .. CRI&PDL(6)., ChiYellow C (4). Chile Cop (2%) Chino Copper. Clu, Peab pf (7). Coca-Cole (7) Colo Fuel & Iron. Colo Southern. ... Col G & E (2.60).. Com Solv A (4) Com Solv B. . Congoleum (3). Consol Gas (5). €onsol Textile. Cont Can (4)..".. Cont Motors (20¢) Corn Products. . . Corn Pr R pf Cosden Co....... Crucible St (4) .. Crucib Stl pf (7). Cub Am Sug (3).. Cub Cane Supf.. Cub Dom Sug pf. . Danl Boone M (3) Davidson Chem Del L& W (6). Det B4 Co (8) . Dome Mines (2) Du PtdeN (3). EastK (15%). Eaton Ax (2.60).. T Stor Bat (4) End-Jobn (5). Erie.... Erie lst p! Famous P! (8)... Fifth Av B (64c). Fisk Rubber..... Fleishman (3). .. Freeport-Texas. . Gen Asphalt. Gen Cigar (8). Gen Elec (8) . Gen El spe (80c). Gen Mot (1.20). Gen Mot pf (6) Gen Mot db (6).. Cen Petm (. Gen Retr (4). Gimbel Br pf Goldywn Pict Goodrich. ... Goodrich pf (7) Goodyear pt. . Granby Consol. Gt North pf (5) Gr NorOre (3). .. Grt Wstn Su. (8) . Gt West Spf (7). GrCanan Cop. ... Guantan Sugar. .. Gult St Stl (5). Hanna Jst pf (7). Hartman Cox4). . Hayes Wh'l (3) Homestake( 7) Househ'd Pr (3):. ‘FHouston Oil. . Hud Mot C (3)... Hupp Mot C (1).. - 11% Hydraulic Steel.. % I1tinois Cent (7). . 101 1Y% 13% 254 53 23% 68% 39% 161 103 64% 36% 29 847 53% 44 29 62% 16% 564 58% 24% 82 68% 10% 6% i49% 8% 33% 83% - 212% 10% 134 81% 82 39% . 44 )+ 100 14% 20% 5% 42% 13 56% 274 91 105 12% 814 63% 89 35 344 49% 33% 62% 22 Indep OII (1). Indian Motoreyc. Inland Stl (2%) .+ Inspiration Cop: . Intetd Rap Tr. Int Bus Ma (5) Internat Agri Int Com Eng (2). Internat Har(5) . Int Mer Marine. Int Mer Mar pf... Internat Nickel. . Internat Paper. Int Pap pf st (6 Int Rys C Am (5) Int T&T (6) ' Invincible Oil. ... fron Products {§) ‘Jones Bros Tea Jordan Mot (3)... Kan City South. . ‘Kayser Jul & Co. "Keily Spr Tire." . Kelly Springtd pf. Kenne Cop (3)... Keystone T&R.. Laclede G pf (5). Lee Rub & Tire. . Leh Val (3%). Leh Val rights. . . yTS. v u:(f £oco (4). .. Loews Inc (3) . Loose-Wileh Bis. Lorrillard (3).... Louis & N'sh _(5) Ludlum 84 (2), Malntyre (73c) Mack Trucks (6). Macy RH & Co. % 18% 32% 24% 21% 90% Y- 0% 22% 85 - B% 34% 11% 86%- 67 4% 661 12% 41% 21 23% 19% 22" J14% 43% - 88% LY 7 9% 41% 28% 50% 50% 89 16 52% 36% 1% - 18% 15‘5{' 79 60 1% 5% 1% 0% Ti% TO% 42% 42% 2% 114% 114% 114% 22% 62% 158 94% €3 21% 14 72 40 96 6 124% 63% 98k ~4% 2% 13 142 69% 64% 9% 2% 7% 26% 32 88 9% 92 29% 103 4514 FeeY 89% 25, 45 444 5% 3% 37w 4% 1% 103 64 87% 29 35% 53% 44 394 63tn 2% 46% 6% 84% 117% 28% 611 87 3% 5T% 4215 24% 49% 118% 4 104 15% 118% 106% 16% 56% 58% 24% 224 69% 10% 6% 49% 8% 24 84 217 10% £ 18% 824 82% 39% 44 100 - 14% 20% 71 2% 13 57% 274 . 91 105 12% 8% 654 89 25 - 34 9% 33% 62% 22 11% % 102 T%. 18% 83 - 24% 21% 20% % 22 85 % 85 11% 87 67 - 12% a%n 21% 23% 194 22 T14% 43% 88% 1% Open. High. TLow. Close. 80% 380% 30% 80% % 1% 71% 42% 114% 22% 652% 33 24 801 99% 8% 1% 22% 52% 38 24 BOW 99% <o 112%112% 112% 168 945 52% 21% 14 T4 89 96 6 12% 61% 98% 841 40% 12 524 14 844 13 Am'T & Tel (9).. 125% 125% 126% 139% Am Tob B (12).. 137% 137% 137% 694 64% 9% 2% % 26% Can Pacifie (10). 147 148% 147% 24% 69 41% 27% 16 103 €3% 37% 29 35% 53% 44 39 62% 2% 46 6% 34 1175 28% 49% 87 81% 57 421 24 4T% 118% 104 15% 117% 106% 16% 56 68% 24% 324 691 10% 614 49Y% 8% 8% 33% 38% 83% 84 211% 215% 10% 10% 13% 13%, 81% 821 82 824 29% 39% 44 44 100 100 14% 14% 20% 20% % 77 2% 42% 13 13 56% B57% 27 27 81 91 106 106 12% 12% 8% 8% 63% 63% 89 89 84% 34% 34 49% 34 49% 32% 62 32% 21% 62 21% 1% % 11% 102 103 337% 117% 27% 48% 87 214 66% 42 4T% 118% 108% 15% 117% 106% 16% 56 58% 24% 82 68% 10% 61 49% k. 101 Ll Cent pf (6) ... 104% 104% 104% 104% L% 18% - 328 24% 21% 0% 5% -22% 8 8% 34% 11% 364 7 a“n 66% C11% A 20% 23% 19% 21% 14% 43 8% 1% % 18% 33 24% 21% 90% % 22% 85 8% 84% 11% 37 67 44 66% 12 4a1% 20% 23% 19% 21% 14% 43% 8% 1% 77 9% 414 27% 50% | 50% bs.. 15% 52% 35% 81 18% P NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office Open. High. Lew. Close. 22 23 22 22% 43 43% 43 43% 5% Gile B4k Ol 27 .27 264 27 47 47 47 47 29% 204 29 30 B4% 34% 34w B4k 30% 80% 304 B804 4l 4% 4% 41% 844 B4% 84w il 18K 19 18% 184 18% 19 18% 19 3% 8% 3 3% 26% 26% 26% 264 1% 1% 17 1% 32% 824 324 32% 10% 10% 10% 10% 82% 32 31% 31w 1% 12% 12% 12% 0% 4% 404 40% 22% 22% 22% 22% 19 19 19 19 ™ TH % T 51% O5l1% b1% 51% 32% 32% 324 32w 384 388% 388% 88 98 93% 93% 93% Nat En & St. 26% 5 26% 26 26 Nat Lead (5).... 128% 128% 128% 128% Nat Supply (3). 651y 64% 64% Nev Cons Cop. 13 13 13 NOrT&M (7). 116% 114% 1154 N Y AirBr (4). 39% 39 39% N Y Central (7). 101% 100% 100% N Y C& StL (6). 78 1T 78 N Y Dock. = 28 27% 28 N Y Dock pt (5). 49 43w 49 NY NH & Hart. . 19% 19% N Y Ont & West 16% 164 Norf & W (18) 123% 122% North An.er (2) 244 23% North Am pf (3). 45 45 North Pac (5)... 1% 62% Orpfieum (113).. 18 18 Orpheunt pf (8) 93% 93% Otis Steel. . . ™ 1% Owens Bot (3). 42% 43 Pacific Develp. % PacG& 1 (8).. 92 Pacific Oil (2). 454 PacT&T pf (1%) 88 Packard (1.20). 10% Pan Amer (4) 4% Pan Amer B 45% Park & Tilford 27 Penn Railr'd (3). 43% Penn Seab Steel. . 1N Peop Gas Ch (7). 93 Pere Marq (4) 47T% Phila Co (1) 43% Phila Co pf (3).. 2% Phila&R&I.... al'a Phil Mor (50¢}. . 156% Phillips Jones. 46 Phillips Pet (2, 34 Pierce-Arrow. 6% Plerce-Arrow pf. 18% Pierce Oil. . .. 2 Pitts Coal (4). .. 88% Pitis Ut pf 1.65. . 115 Pitts & West Va. . 41% P& W Va pf (6). 934% Postum pf (8) 111% P'ress St1C (4) 4T Prod & Refiners. 234w Pub NJ ). 42% Pub S NJ pf (8). 101% Puliman Co (8).. 117T% Punta Al Su (5).. 55 Pure Oil (113). 20% Pure Oil pf (8)... 9% 9% Ray Cons Cop. ... Reading (4)..... 521 Reading rts. 19 Read 1st pf (2) . 35% Rensselaer & Sar. 114% Replogle Steel. 8 Rep Ir & Steel 43% Reynolds Spr (2) 1% Rey Tob B (3). 66% St Jos Lead (12). 23% St L-San Fr pf s St L Southwest. . 85% Savage Arms. 4T Schulte (8). .. 102% Schulte pf (8) . . Seaboard Air L. . Seab'd Air Lip!. Sears Roe & Co. Seneca Copper Shattuck-Ariz. .. Shell Un Of1 (1) Shell Un pf (6) .. Simmons Co (1) . Simms Pet...... Sine Con Oil (2) Sin Con O pt (§) . Skelly Ol Sioss-Shef 55 So P Rico Su (6) South Pac (6).... Southern Ry (5). St Oil Cal (2). StOUNJ (1). Sterling Pr (4) Stew’t War, (10 Stromberg C (8) . Studebaker (4).. Submarine Boat. Superior Oil....... Sweets Coof Am. Tenn C & Ch Texas Co (3).... Tex Guif (163). Texas & Pacific. . Tex & PacC &O. Third Avegue. Timken (13%) Tob Prod (6) Tob Prod A (7). Tob Prod pf (7) Transcont Oil. .. Union Oil. ... Un Pacific (10). Un PacpL.(4). Utd Alloy Sti (3). Un T Carpf (7).. United Drug (6). Utd Ry Invest. U S Cast fron P. U S Ind Alcohol. USR&Im (8). Mallinson & Co. Maun El 8up (4) . Man Elevated. . Maracaibo OIl. Mkt St Ry pr p! Marland Oil. ... . Martin Parry (3) Mathieson Alkali Maxwell Mot A. . May Dpt St (5) . Mex Scaboard(2). MexSeabd cifs(2) Middle St Oil Midvale Steel. Minn & St Louis. M StP&SSM (4) . Mis Kan & Tex. Mis K & Tex pf. Missour| Pacific Missouri pf. Montgom Ward. Moon Mot (3).. . Mother Lode (1). Nat Biscuit (3).. Nat Dairy (3). Nat Dept Stores. N DS 1stpf 122% 45 18 934 7% 2% ¥ % 22 46% 88 10% 48% 46% 27 4 1% 934 484 431 42% 427 58% 29% 9% 10 35% 568 86% 118% 4 % 130% 1% 26's 108% kid 8 B3% 66% 9% U S Rubber. USR 1at uf (3).. U'S Smelting. ... U S Steel (16) U S Steel pt (7). Utah Copper (4) Utah Securities. . Vanadium Corp. Va-Caro Chem Va-Caro Ch pf Va IC&C (3%). Va Ry & Power. Vivadou Wabash. Wabash pf A - Web & Heilb (1). West Maryland. . Western Pacifi West Un Tel (7). West Air Br (6). - West E& M (4) Wheel & L Eri ‘Wh Eag Oil (2). White Mot (4) Wickwire Sp Sti Wilson & Co Wil & Co pf. Willys-Overland. Willys-Over pE. Woolworth (8) . Woolworth wi(3). W'th Ppt B (6) Wrig WJr (3) Yollow Cab 5)... 46% YoungstS&T (5). 63 63 62 62 tPartly extra. $Payable in preferred stock. Dividend rates as given in the above tabl are the annual cash payments based on the indest “auarterly “or _ 1alf yearly ‘Geclarationa. Sianas” i oot inetuded. = e High. Low. Last. Call Money..... 3% 3% 8% HOURLY SALES OF STOCKS. 1l1am..... 385800 12m 1pm.....530300 U. §. TREASURY CERTIFICATES Co.) oon.—— Offer. 28% 16% 21 956% 118% 67 28% 21% 1% 64 43 39% 8% 16% 44% 16% 9 18% 106% 89% 564 8% 234 62 2% 618 24 8% 66% 882 84% 62% 85% 20% 6% 118% 67 28% 21% 1% 5% 43 39% 9 1% 39% 8y 16% 44y 16% 8% 18% 106% 891 56 8% 234 52 2% 6% 24 8% 8 67% 66% 832 332 84% 83y 62% 624 86% 385'% 46% 45% 45% 39% 9 16 45% 16% 9 18% 106% 89% 56% 8% 23% 52 2% 6% 24 15% 4% 16% 8% 184 106% 89% 56% 83 23% 52 2% 6% 24 8 66% 832 83% 623 “5% 48 June 16, 1024, 5%s June 15, 1924. 3izs Sepiember 15, 4i{s December 13, 45" March 15, 1925 4%s Mareh 15, 4348 June 15, 1925. 4%s December 15, 4 1926, “NEW. HAVEN, Conn., May 12.—Last week's prices averaged 145 per cent of the pre-war level. The purchasing ipower of the dollar was 69 pre-war cents, Crump's Index No. 153.9, | Alaska | to northern waters, the Alaska Pack- | ers’ _ Association having FIRMNESS IN BONDS, WITH QUIET MARKET Many Securities Seemingly Sold on Attractive Yields, But Prices Not Boosted. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, May 12.—General prices held firm in today’s bond mar- ket, but trading was quiet. While many securities seemed to be selling on an attractive yleld basis com- pared with the current charge for money, there was no rush to bid up prices, Instead, the best inquiry was for short-term bonds and notes, Indi- cating Increased uncertainty as to the long-range outlook. In the gov- erment bond list there was a better demand for the tax-exempt 3% which again approached par. Dou about the outlook for tax reduction appeared to be the chief influenoce. Other government bonds were steady. Trading in the high-grade rails and industrials was very slow. Setback in French Iswnes. About the most interesting move- ment of the day was the setback in French issues on the news of the clections ~French Republic 8s and 7%8 got down to the low on this re- action, and the French Cities 6s as well a8 the Paris, Lyons and Mediter- ranean 8s all sold off. At the same time neither losses nor volume was large. Japanese 6}is went below 91 again. Among speculative rails the tone was heavy. This was particularly true of the Seaboard Air Line adjust- ments and of the St. Paul issues gen- erally. New Haven bond little Tower, with heavy transactions in the franc 7s. Erie junior liens and the Missour! Pacific general 4s were comparatively strong. A small buying movement developed in Chi- cago & Alton 3s. Irregularity peraisted in the indus- trials. Ajax Rubber 8s were heavy below 80. Virginia-Carolina Chemical 75 equaled their low and the Wilson & Co., 73%s dropped back a point Tractions were dull to weak, but de- mand for high-grade electric light and power bonds was strong. Character of New Offerings. New issues_were mostly state and | municipal. ~ West Virginla offered $1.500,000 highway 41% per cent bonds maturing serially from 1929 to 1948 to vield 4.35 per cent. City of Nash- ville 5 per cent bonds to the amount | of $310.000 were offered to yvield 4.65 per cent and $700,000 City of Kansas City, Kans., twenty-year 4% per cent bonds to vield 4.6 per cent. The Shaker Company offered $1,500,000 first mortgage leasehold 7 per cent bonds guaranteed by the Van Sweren gin Company, maturing serially 1926 and 1936 at par. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY PITTSBURGH, May 1 fron quotations are reflected in aver- ages for thirty days sompiled by W. P. Snyder & Co., leading producer in the Pittsburgh district. Average sales prices include $22.80 valley for Besse- | The | i ! mer, a l0ss of 57% basic average w 50 cents a_ton. N age was $22.87, a lo a ton. 'nts a ton 50, a loss of foundry aver- 3 cents ATLANTA, May 12.—Peanut grow- ers have filed a vigorous protest against a®reduction of freight rates by the Interstate Commerca Commi sion on Chinese nuts shipped east from the Pacific coast. They contend | that if the rates are reduced a simi- | lar cut should be made on Georgia nuts shipped to the same markets. PORTLAND, Ore, May 12.—Indica- tions point to a somewhat oversold condition in the Columbia River canned salmon trade. Reports from leading packing interests indicate that early confirmation from castern and southern buvers has been fully | up to expectations. FRANCISCO, May 1 salmon flcet is now on its way 8 acceeded to demands of the fishermen's union for an inerease of 1, cent a fish caught. The fishermen will receive 8 cents each for the fish they catch, irrespec tive of size. GLASSBORO, N. 5 mwand is especially heavy for bottles glass contalners for drug spe- cizities and cosmetics, while orders for soft drink bottles also are of large volume. SHREVEPORY, May 12.—Two leases consisting of 58 acres of oil lands in the Red River parish field will be sold June 7 unBer an order of the federal court to lift the receivership | on the Continental Asphalt and Pe- troleum Company. Under terms of the order bids must come up to $450,000. KANSAS CITY, May 12.—The fall prices of rugs, which showed an in- crease of about 5 per cent, when an- nounced May 1, have been guarante: to September 1. This has been in spit! of the decreases quoted in the recent New York fall openings. DANVILLE, Va, May 12—The To- bacco Growers' Co-operative Associa- tion within a month will start work on a tobacco storage shed with capac- ity for ten million pounds. They probably will build three such houses in Virginia—one here, another at South Lioston and the third at Black- stone. ST. LOUTS, May 12.—Negotiations are progressing for a reopening of the lead and zinc properties near Aurora, Mo., which have been closed down. FRANKLIN, Pa, May 12.—Charles Miller of this place is studying. pos- sibilities of raising sugar beets in this section and building a sugar fac- tory on a co-opeative basis. He es- timates planting of 6,000 acres to sugar beets would be necessary to as- sure success of the plan. MANCHESTER, N. H., May 12.—The J. F. McElwain Shoe Company of this place has received orders for 1,000,000 pairs of shoes which must be finished before January 1 next. The company will build an extension to its plant to accommodate this production. DENVER, May 12.—David May of the May Shoe and Clothing Company, has announced that a $1,000,000 addi- tion to the Denver store will be start- ed June 1. The Denver Dry Goods Company, recently bought by Scruggs, Vandervoort & Barney of St. Louis, will put two additional stories on its present building. CLEVELAND, May 12.—The Rolling Company, Cleveland’s newest maker of automobiles, shipped 1,100 cars in April. Peerless sold 650 and Stearns reported an increase in buying. Jor- dan, Chandler and Cleveland cars are reported selling in a reasonably sat- isfactory manner, while White trucks are being turned out at normal plant capacity. SUPPLY OF GRAIN CHANGES. NEW YORK, May 12.—The visible supply of American grain shows the following changes, in bushels: Wheat decreased 3,343,000; corn, decreased 483,000; oats, decreased 1,412,000; rye, decteaed 654,000; barley, increased 223,000, FIBM TONE IN DRY GOODS. NEW YORK, May 12 (Special). Cotton ds ' markets began the week with a firm tone today, though business was rather quiet. Print cloths were quoted at 8% cents for 64 by 60 and 10% for 68 by 72, the former an increase of % cent. The raw silk markets were quiet, both here and abroad, with declines of 5 cents a pound registered in Japanese grades. —Lower pig | Lib3ys Lib 1st-2d 4% Lib1st 43 UB4%e1952, Argentine 78 Argentine Austria 74 Belgium Bel 24 41 22 24 10 13 71 13 3 23 1 6 12 13 31 Belgium 8s. Bolivia 8 Bordeaux 6s. Brazil 7, Brazil 8 Brazil T4%s. Canada b8 = Canada 6%s 1929, Canada 68 1931. Canada 58 19 Chile 85 1946 Chile 75 1943. Chinese Gov Ry Christiania 8s. ... Copenhagen 5%s. Cuba 6%s. Czechoslovakia Danish MunicSs A 7 Danish Munic8sB 7 Dutch £16%s Dutch Easi I 6 Dutch East 1 65'62. 26 Finland s f 68 1945 Framerican 7%s. French Govt 5 French Govt 7%s, Haiti6s.......... Holland-Amer 65 Italy 6%s 1926. Japanese Lst 4% 8swi. 144 Jergens U M 6s°47. 12 3 Norway 6 1953. .. Orient Dev deb 6s. 3 Paris-Ly's-Med 6s. 33 | Prague 7%s. Queensiand Queensiand 6: Rio de Jan 85 194 8ao Paulo State 8 Seine Dept of 7s.. 20 | Serbs Crotes Slo 8s 64 Swiss Confed 88 Swis: Ud Kingm b %, Ud Kingm 5%s '37 Uruguay 8 I Ajax Rubber 85 6 | Am Agr Chem %3 11 AmChainsf6s'33. 7 | Am Repub deb 6s. Am Smit& i 18t b |AmT & Teve: |AmT&Teltr |{AmT&Tcltr4s. Am T & Tdeb5%a Am Water Wks 63 Am Writ Paper 6 Anaconda cv db 7. Anaconda 1st 6s Armour & Co 4 | Armour of Del 5% Assoctated Ol 6s. Barnsdall s f §s Bell Tel Pa 58 | Bath Steel 64583, ecelrf 5s Brier H St 1st 5%a Bkiyn Edison is D Bklyn Ed gen 5s... Bueh T Bldg 58 '60. Calif Peto 6%3. Central Leather e | Cerro de Pasco $s, ile Copper 6: nG&Es%s 1o Industrial Col Gas & L 53. Col Gas & El 5s sta. : Commonwth P 6n.. Con Coal Md 1st 5 | Consumers Pow bs. Cuban-Am Sug Cuba Cane cv d & Det Edison ref §s | Donner Steel 7s. Du Pontde N T%s. Dugquesne Light 63 Est Cuba Sug 7%3. Empire G&F T%s Fisk Rubber 8s. Gea Elec deb 58 Goodrich & Goodyear 8s 1931 Goodyear 83 1941.. Hershey 6s 1942, Humble O&R 5%, Illinois Bell 1st 5 Int Mer Marine Inter Paper 53 "41... KCP&Lt6aAS3. Kan G & El 63°52 Kayser (J) s Kelly-Spring 3s. Liggett & Myrs 7: dorillard (P) 58. sMagma Cop cv 78 Manatl Sug st 7% Midvale Steel 5a. Montana Power bs. New Eng Tel bs. N Y Tel 6s'41. N Y Tel6s'49. N Y Tel 4%s Otis Steel T%s. Pacific Gas & El 38 PacT & T 1st Pac Tel & Tel 5 Pan-Am Pete 7: Phil & Rdg C&I 5s. Phila Co b%s’38... Phila Co ref Gs A Plerce-Arrew 8 Producers & Rt Public Service Gs. Pub Ser Elec 65 wi. Punta Alegre Sharon Sti H 88 Sinclair Ofl 8. Sinciair Ol 6% Sin Crude Oll 5% 8in Crude Oil 6s. Sin Pipe Line 5s. South Bell Tel 68 8o Por Rico Sug 7s Southwest Bell 6s. Steel & Tube 7a. Tenn Elec Pow Toledo Edn 1st Union Bag & P U 8 Rub 1at 1t b U 8 Rubber 7%: USSteel st bs. West Union 6% Westinghouse Wickwire Spen 7i Willys-Ov 6%s '33. Wilsen & Co 1st 68 Wilson&C cv 7%s. Wilson & Co cv 6s. Winchester A 7%8 Youngstn S&T 10 7 20 101% 90% 90% 102% 99% 102 90% 81 82 95% 99 100% 101% 9975 100 1044 1027% 104% 96% 405 107% 90% 93% 97 107% 107% 108% 84% 86% 93% 93% 89% 8 1 79 88 924% 91 934 104 99% 118% £ 95% 101 7% Low. Closs. 101% 90 90% 102 99% 102 89% £0% 8l% 95% 99 100% 101% 99% 99% 104% 102% 104 26 40% 107% 90% 93% 96% 107% 107 108% 94% B6% 93 93% 89 89% 99% 95 89 75 100 9% 9% 20% 6% 80% 50% 48 90% 110% 93% 93 £5% 4% 844 105% 99% 92% 99% 87 80% 112 9% MISCELLANEOUS, 101% 90% 904 102% 99% 102 89% 81 81% 95% 99 100% 101% 99% 99% 104% 102% 104 96% 40% 107% 904 3% 96% 107% 107% 108% 944 6% 93 93% 89 9% 99% 5% 89 75 100 9% 9% 90t AUTHORIZES R. B. NOTES. The New York. New Haven and Hart- ford Railroad Company was granted authority today by the Interstate Com- ‘merce Commission to iasue $1,043,000 of equipment notes under an with the First National Bank of Boston. | gproul beco: agreement [ v voxr BONDS e s Received by Private Wire Direct to The Star Offica. ; (Bales are in $1.000.) ¢ :INIYED STATES BONDS, (Fractions represent thirty - seconts. Example: 93-3 means 983-33.) Sales. High. Low. Cioes 5204 99-31 9928 99-29 3 100-10 100-10 100-10 57 100=11 100-9 100-11 1051 100-9 100-5 100-8 643 100-24 100-21 100-23 - 1682 10014 10011 100-14 53 10129 101+27 101=29 FOREIGN. Sales. High. Low. Ciose. 59 69 % 8T% 8% 82 98% 98% 85% 5% 101% RAILROADS. Bales. High. Ann Arbor ds. 2 B9 Atohison gen 4s... 45 Atchison adj ds... 2 B&Oprinigs... 23 B& O gold és. 73 B &0 SW liv3%e Bklyn-Manhat 6s. 94 BklIRT7s"21ctst. 1 Buff R&PItt 4%s.. 4 Canadian North 78 12 Canad North 6%s. 2 Canad Pac deb 4. Car Clinch &0 Cent of Ga Central Pacl Ches & Ohic cv Ches & Ocv 4% Chi B&Q 18t rf 58, Chi & E 11l gn bs.. Chi Great West 48 C M & Puget 8d 4 ChiM &St Pred% 25 ChiM&StPov 3 ChiM&StP 4 Chi M&ES P cv 4% Chi M&ST P 4s'34. 10 ChiM&StPéswi. 15 Chi & N'W 6%s. 1 ChiRys 17 Chi R1I&Pgn 3 ChiRT&Pacrf 4s 8 Chi Un Sta 638 Chi & W Ind cn 4 Cleve Term 5%: Cleve Term b8 Colo & Sou #%s. Del & Ha 1st rf 4s. Del & Hudson 5%s. D & Rio G imp Bs.. D& RGstrtbs Erle 18t con & Erle gen Erleconvds A. Erie conv 45 B. Erle conv 4s D. Gr Trunk sf db 6s. Grand Trunk 7s Gr North gen Gr North gen5% Green B& W db B. Havana ERL&P bs Hu< & Man ref 6a. Hud & Man aj bs.. Til Central ref ds.. 111 Central 6% 12 8 nanlacnee COTTON MARKETS. NEW YORK, May 12—The cotton market was influenced at the open- ing today by relatively easy Liver- pool cabies and prospects for better weather the South. The first prices wers easy at declines of 33 to 37 points. Active months sold 23 to 40 points net lower after the call. July declining to 2835 and October to 24.54. There was no improvement in the generally bullish character of private crop advices based on the un- favorable weather last week, how- ever, and the market steadied up after the early offerings had been absorbed, prices showing rallles of 15 or 20 points from the lowest to- ward the end of the first hour. The rally from the early low levels was checked by some selling of new crops on more favorable weather prospects but slight mid morning re actions were followed by renewed firmness on covering by near months shorts both here and in New Orleans Locally May soldup to 31.65, making a net advance of 67 points. Demand tapered off at this figure and trading was quieter at midday when October was ruling around 25.01, with_the market showing a net advance GF 24 to 52 points on old crop position and of 1 to 4 points on the latter de- iveries. NEW YORK, May 12—Cotton fu- tures closed barely steady. Ma: 30.70 July 2835 October 24'64 Dacember i Javuary . Opening 24.50; December, 24.1¢ o NEW ORLEANS, May 12—The cot- ton market opened lower on unfavor- able Liverpool cables, the success of the radicals in the French elections and lower forelgn exchange. First trades were 22 to 34 points down from Saturday’s close and prices eased off a few points additional after the call, July trading down to 28.04 and October to 23.95, or 23 to 35 points net lower. The market soon rallied 16 to 20 points on continued cold weather in the belt and unfavorable private advices as to progress of the crop. Forecasts of April consumption wore 451,000 by one authority and 507,000 by another. NEW ORLEANS, May 12.—Cotton fu- tures closed steady, 38 points net up to 17 down. Close. 31.2227 87276 Close. 30.76-85 28.32.37 24.13-15 23.58-90 23.88 Opening, May 3 28.10, Octo- ber_ 23.95, December 23.65, January 23.57 bid. LIVERPOOL, May 12—Cotton spot £00d business done; prices easier. Good middling, 18.43; fully middling, | 17.95; middling, 17.4§; low middling, 16.63; good ordinary, 15.63; ordinary, 15 Sales, 8,000 bales, including High. Low. Int Rap 1ran 6s. Int Rap Tr 6s stpd. Int Rap Trans€s.. Int Rap Tran Int& G Noraj Int & G Nor 1st 8 Kan City Ft S 4s Kansas City S3s Ransas City S bs. £9% 96% 103% 91 Louis & Nash 7y 107 Louis & Nb6s 5 Manhat Ry cn 4s.. | Mil E1 Ry & L & M StP & BSM o % 81% 102% 871 TR £3% = PORT NN 1 N O E =10 3 96% 81% el 89% 9% 874 7645 1054 92% Mo Pacific 58 Mo Pacific gn # Montrl Tm ist ew Or Term 4 NOTex &M in 5 ¥ Cent gen 3%s. NYCendebés.... N ¥ Cen deb 4s. NYCenribs X ¥ Cent cn 45 '98. NYC&StLésA.. New Haven o d NYOnt& Wref w York Ry aj 58 NY Rysadjbsct.. ¥ State Ry 4%43. 819 101% 68% 62% 28 2 58" 47% 86% 57% o Neoxm 104% 93 100 95 81% 101 o1 109% 108% 26% N mEAONRUBRNGRAmNaRD Ore-Short L ref 4s. Ore-Wash 1strf ¢s Pennsyl gen bs Pennsyl 6% Pennsyl gold 7s. Pennsy: con 4%43.. Pere Marq 18t bs... Reading gen 4s.... Reading gn ¢ hewi 3. Rio G West 1st 4: Rio G:West cl ds. RIArk &L 4%s. StL1Mas 4 StL&SFpl StL&SFprinbs. 14 StL&SFincé StL&SF 5% D. StL&SFadlés StL&SFpl6sC StLEW 1st 4 8 76% 80% €9% 68% 834 63% 82 728 100% 100% 84 784 82% 828 98 ug 6% 6% 52% 53w 55% B5% 8% 78% 94% £5 87 87 99% 99% 72" 72 1045 104% 99% 100 b4k b4k 2% 2% 9% 804 984 98% 904 90% 103% 103% 102% 102% -9 95 89 89 99% 98% 921 924 6216 62 84% 3 84% TOTAL SALES (Par Value): 11am.. 2867000 12noon 4 377000 1p.m.. 6011000 2p.m... 6956000 oo Sou Pactfic ref 4s.. 65 Southern Ry 1st6s. 6 Southern Ry gn 4s. 18 Southern Ry 6%s.. 12 Southern Ry 6sct. 64 Third Averef4s... 8 Thtrd Ave adj bs... 11 Tol StL& W 4s 33 TolStL&W 3 26 Union Pac 1st 4s... 29 Union Pacificcvés. 3 Union Paclistrebs 4 Virginia Ry 1st6s. 9 Va Ry & P 1st 5s. Wabash 1st 5s. ‘Wabash 2d bs. (Quotations furnished by Redmond & Co.) Eeon— Ofter, Algminum Co. of Amer. 7s 1925. 102 Aluminum Co. of Amer. 7¢ 1833. 1 American Sogar 8s 1937, American Tel. & Tel. 6 ‘Anaconda Copper 6s 1929...... Anglo-American Ofl 7i4s 1925.. Associated Ofl 6s 1935 5 Bell Tel. of Canada 5 Capadian Northern 5 Central Leather 0s 1 Chl., Mil. & 8t. Paul O R 1, ific 5148 1926 Columbia Gas & EL. 1st s 1927, Du_Pout 7348 1831 Federal Sugar Ref. 6o 1933, Fisher Body Corp. €s 1927. Fisher Body Cory.. e 1928 Goodyear T. & R. 8 1931 Great Northern 7s 1936. Gulf Oil Corp. of Pa. 534, Humble Oil 5%s 1 Keanecott Copper 78 1830, Libby, MeNeill & Libby 7s 1831 M., S P. &8, 8. M_64 Morris & Co. 7i4s 1880, New York Central 6e 198 ‘Short Line 4s 1929, Penna.-Ohio Pow. Peana. R. B. 7 8wift & Co. fs 1982 Tidewater Oil 6% 1031 Union Tank Car ¥s 1980. U, . Rubber 7%s 1930. Wests Unlon 1938, . 11 atinEhouse B. & M. Te 1001, 10078 6s 1020, . nk Bs2Reags383s (PN R EFEERESR B & Westinghouse E. Wheelinz Steel 3 HEADS IRON COMPANY. PHILADELPHIA, May 12—An- nouncement was made last night that A. H. Beale of Chicago, former vice président in charge of operations of the Steel and Tube Company of Amer- ica, has been elected president of the Lebanon Iron Company, and that H. 'W. Pratt, former president of Naylor and Company, New York, becomnes vice president. Former Gov. Willlam 'C, mes chairman of the exec- 'The notes will be exchanged for a like’utive committee, Howard Longstreth amount of the road’s notes now out- continues as treasurer, and John C. standing. \ 68% | 81% | 100 American. No receipts. Futures | closed steady.” Closing: May, 17.36; July, 16.71; October, 14.60; December, 14.16; January, 14.06; March, 13.93. CHICAGO LIVE STOCK MARKET. CHICAGO, May 12 (United States | Department’ of Agriculture).—Hogs— | Recaipts, 62,000 head: uneven; over | supply: 10a15 lower than Saturday's | average: some sales 15a25 lower than | bast time Saturday: bulk good and 50 to_325-pound butchers, top, 7.35; desirable 160 to “pound weight, mostly 7.15a7.30; bulk better grades, 140 to 150-pound weight, 6.6027.50; bulk packing sows, | 6.6526.50; killing pigs, 15a25 lower: bulk good and choice strong weight, 6.0026.25. Cattle—Receipts, 23,000 head; slow: v beet steers and yearlings v' 15a25 lower: epots oft more | carlings; better grades light steers sharing decline: some choice | heavy steers held around 12.25; few early sales, 8.00a10.50; some yearling | heifers, 7.50a9.00: | dominating; moderate sprinkling good to choice handyweight and strong- | weight steers from Nebraska and | South Dakota feed lots; better grades fat cows comparatively scarce, steady | to weak: lower grades slow; weak to | lower bulls steady to strong; vealers |about steady; stockers and feeders | comparatively scarce; steady; meaty feeders upward to 10.00 and above; | veal calves, mostly 8.50a8.75 to pack- ers; common and medium light calves | downward to 8.00; outsiders’ selecting | upward to 11.00 Sheep—Receipts, 17,000 head; slow; fat lambs around 25 lower; most of- ferings lack high finish; sheep mostly |25 lower; bulk desirabie good kinds | early, 14.00a14.50; some good to chofce | kinds held higher: no early sales wooled lambs. spring lambs, 17.00a 17.50; bulk clipped ewes, 7.7588.25. ot e Mo, | GRAIN AND PROVISIONS. BALTIMORE, Md. May 12 (8pe- | cial).—Potatoes. white. 100 Iba. 75a - [06; new potatoes, Asparagus, doz., 2.00a bu., 2.50a4.00. ' Lima Beets, 100, 5.00a 25a35. Cabbage, 0.00." Kale, : 100, 4.00a | basket, 2.00a3.00. £.00. Celery, crate. Cucumn- bers, basket, 4.00a6. Eggpiants, crate, 2.50a5.00. Lettuce, hamper, 1.00a 2,50, " Onions, 100 Ibs., 50a1.50; spring onions, 100, 1.00a1.25. Peas, bu., 1.50a 2.75. Peppers, crate, 1.5024.00. Spin- ach, bu., 50a75. Radishes, 100, 2.50a 550, Squash, basket, 150a3.00. To- crate. 2.50a7.00. , packed, bbl. 1.75a4.50: bu. ] ox apples, 1.75a2.25. Oranges, | box. 2.50a4.00. Grapefruit, 2.00a3.25. | Strawberries, qt.. 15a25. | Settling Prices on Grain. | Wheat—No. 2 red winter, spot, 11.12%; No. 2 red winter, garlicky, do- | mestic, 1.12%; no quotations en 4 or No. § red winter, garlick: ales. B orm—Cob, new, 4.25a4.30 per bar- rel for yellow, and 4.10a£15 per bar- | Tel for white; No. 2 corn, spot, 85; No. 3 corn, spot.’ $2; track com, yellow, No. 3. 30a91." No sales. N ats—No. o white, 58%a59; No. 3 white, new, 5715258, Rye—Nearby, 70a80; No. 3 rye, spot, 4%, Hay—Recelpts, 10 tons. The better quality _of _timothy, light clover, Mixed, No. 1 clover hay, in falrly good demand, at full quotations, and for good nay the market is firm. Lower grade, damaged and unsound hay still slow sale at irregular values. 'Quotations—No. 1 timothy, 29.00: No. 2, 25.00a28.50; N 28.50 226.00. 1 light, 25 i o, clover. mixed, 37.00a27.50; No.'% clo- Yoo X% ctraignt rve, 24.00m 25.00 per ton; No. 1 tangled rye, 18.00 230.00; No. 1 wheat, 18.00a18.50; No, 1 oat, 17.50418.00. i DAIRY PRODUCTS. . BALTIMORE, Md., May 12 (Spe- cial). Poultry—Winter chickens, 1Ib., 40a45; springers, 40a50; leghorns, 3 45; young stags, 25; old hens, 27a2: leghorns, old, 25; roosters, old, 16al ducks, 20a25; pigeons, pair, 40a5! guinea fowls, each, 40a60. Eggs (loss off)—Native and nearby firsts, 23; southern, 22. Butter—Creamery, good to fancy Tb.,, 35a40: nearby creamery, prints, 40a42; ladles, 30a32; rol 30; dairy prints, 28a30. store packed, 27a28; process butter, 34. = CHICAGO GRAIN MARKET. CHICAGO, May 12.—All grain, espe- cially corn, declined in price today during the early dealings. Ideal weather for corn planting was large- 1y responsible, together with weak- ness in the New York stock market. In corn there was general commission house selling, as well as a good deal of liquidation, numerous automatic orders to stop ownership losses being brought into play. ‘orn opening vrlcei.h which varied from unchanged figures to %¢ lower, with July 763% to 76%, were followed by a decided drop all around. Trade in wheat was relatively small, and price changes were much influenced by the action of corn. After opening a%c down, Ma: $1.03% and July $1.05a1.05%, the wheat market underwent a moderate general sag and then rallied some- what. Oats started unchanged to %c off, July 44. Later all deliveries showed a loss. Lower quotations on hogs weakened the provision market. WHEAT— Open. High. TLew. . 108% 1.08% D105 1043 106 1.05% Close, o 1 K3 Brown as general manager. largely steer run;i | yearlings and lightweight steers pre- SLIGHT PRICE RISE ON LOCAL EXCHANGE Favorite Public TUtility Issues Show Upturns in the Mar- ket Quotations. BOND TRADING DIVEBSIFIED April Shows Smaller Total of Money in Circulation. BY CHAS. P. SHAEFFER. Firm prices and stght uptumns quotations of favorite local public utility stock {asues was the prevalent note 6- the Washington Stock Exchange th morning. Capital Traction stock was fractionally higher, twenty-five share eelling at 93%, while Washington Gas stock took its first step in recovering former levels, selling at 43. Only odd lot sales were recorded. ‘Washington Rallway and Hlectrie pre- ferred retained its strong position, forty shares selling at 74. National Mortgage and Investment preferred which has become the local market's leader in activity, old off to 8% or sales involving 150 shares Bond trading was well diversified. but of small volume. Washington Gus 6., of 1933 s0ld at 101%. with the company changing hands Georgetown Gas 5s sold at 871 Capital Traction 5s at 9 ot Ches: peake and Potomac Telephone brought 97%. Total Meney fn Circulation. The total money in circulation clined $52,747,483 in April, whi March there was an increase $5,083,566. The per capita cireulation on 1, last, amounted to $42.33 crease of 23 cents during the year, compared with 3$42.85 on Apn 1924 On May 1 gold certificate circy tion in the United States had creased $38,926,740 since April 1 $144,160,050 since the first of year. Stocks of gold coin and b on May 1 had increased $170.201, from $4,247,200.861 to $4,4174C since January 1. Chapter's Last Study Week. The current period marks the ' study week for the local chapi- American Institute of Banking. 7c night there will be a general revis in" “Negotiable Instruments” wt an examination in this same top will be conducted tomorrow night Wednesday evening the Standar banking class will hold its exar nation, and on Friday evening a 1 examination for the benefit of 1 who failed or who did not attend th midyear test will be conducted economics and commercial law All examinations will begin 7:30 o'clock. Personal Mention. James Trimble, vice presider the Natlonal Bank of Wash leaves today for San Antonfo, Tes as a commissioner representing ¢ presbytery in the General Assem! of the Southern Presbyterian Chuv. He will be absent about two wee Crossing Accidents Prevention. The intensive campaign to be co ducted by the American Railway As- | sociation’ to reduce the number | highway crossing accidents will beg on June 1 _and will continue unt September 30. Elaborate plans has just been completed whereby thi campalgn will be made to cover th: entire United States in an effort save hundreds of lives during thc coming summer. In a conference of the various ir terested organiastions just held Chicago a resolution was adopted urging that drivers of motor cars re jduce their speed to ten miles per hour three hundred feet from 2 rai! road crossing and not increase tha speed until they are absolutely sur. that it is safe to proceed. This w. e one of the things emphasized du- ing the campaign. | CANNING VOLUME BIG. Peach, Berry and Vegetable Cro; Heavy in South ATLANTA, May 12 (Special) —T! will bo a greater volume of home community canning this year in tl south than ever before. Peach, prar. berry and vegetable crops are expect ed to be heavy and su able at attractive prices. smaf community canning and serving plants have been erected thi: 8pring. Cold weather has further rv tarded progress of ocotton in the northern part of the belt and comi after previous adverso condtiofs makes an carly grop imgrobable Much repianting has been necessar: and private estimates of conditions place it at from 65 to 70, as compared with 71 a year ago. The La Grang milis have put another curtailmer of production of 10 per cent into ! fect. Extrems disfavor has greeted the increase in the traiff on sod:mm nitfate among the farmers of the south, who fear an advance in fert lizer pricea TRADE AT FAIR LEVEL. Betnilers Report Special Exceed Expectations. BALTIMORE, May 12 (Special) — Although apathy has been noted re cently in retail business, some the Baltimore stores report that s clal sales are meeting with unusual good results. One department stor which has Just ended a special saic covering several days reported iis not only had the figures of last vrar been surpassed, but that even forecast ‘which had been ‘made what the business this year sho be_had been exceaded. o “It {s_true that we used an u usual amount of advertising in th conpection,” said the manager of ¢ firm, “but our results justified if, a the Dercentage of advertising cocts sale was entirely satisfactory. Sales were best in the larger d partment stores and in the depar! ments handling seasonable materi: ! such as wash goods and silks. e et FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Nominal Seclling coec a;. £old valve. 438% 98716 e Sales ‘2651 NEW YORK, May 12.—Foreign ex- changes weak. Quotations (in United States dollars): Great Britain, 4.5315-16; cables, 4,36 3-16; sixty-day nills on banks, 4.3311-16. France, demand, .0557; cables, .0558. Italy demand, 044134 ; cables, .0442. Bei- {um, demand, .0469; cables, .0470. ermany, demand (per trillion), .23. Holland, 'demand, .3730. Norway, de- mand, .1388. Sweden, demand. .2648. Denmark, demand, .1695%. Switzer- land, demand, .1772%. Spain, de- mand, .1377. Greece, demand, /.0204. Poland, demand, .00000012. Czecho- slovakia, demand, .0230. Jugoslavia, demand,’ 0134. ' Austria, = demand, -000014%. Rumania, demand, .0051% Argentine, demand, .3300. Brazil, do- mand, .1128. ~ Tekio, demand, 40%. Montreal, . Infantile mortality has gone dowf from 150 p2r 1,000 at the beginning of the century to .80 per 1,000 today,