Evening Star Newspaper, June 1, 1924, Page 89

FINANCIAL, THE SUNDAY STAR, WASHINGTON, ; JUNE 1,_1924_PART & ; FINANCIAL 11 " FARMERS TO RESENT WHEAT HODLS STEADY, DROP IN SUGAR DUTY| B B e CORN TREND UPWARD 98-20 Liberty 3%s 1932-47. -+ ot 1 47, 10814 100-8 100-12 422| Review of Price M cita it 58 U a2 dor 101 1012 io 4 ovem 888 Liberty 4th 4% 1933-38. 10 10027 417 Grain Past Week Through- 298 Treasury 4%s 1947-82.. 10216 102+11 102- Sl Prev. week Last. out the Country. : 100% Argentine Ta 1937 ‘ " 1aT% 101% 15 853 Auetria s f 18, 1943 20% %" 9%|CROP CONDITIONS NOTED 99% Belxtum T3s 1945... ONDITIONS 23 | Statement by Department of Agri- cultare Covering the Markets | Western Agriculturists Aroused Over Report Tariff Commission | Will Recommend Reduction. v - MAY APPEAL TO CONGRESS| & { — Am Asricuturs chomical o | 3% Amerioan Can. ... 5 3555554 ] Iu.umgl} H = i 2 Anerican Car & Foundry . + Oprpose Disarranging Tariff Sched-| 20% _AmChainClass A... ules, Gray Silver Announces. Am Hide & Leather pf. ————e 3 78 ‘American lee pf. : N (GOLF y 3 ~~ American International. .. BV HARDEN COLFAX. | a Am La France Fire Engine Reports that the Tariff Commis- s Eng American Linseed. ... eion is about to make recommenda- | Am Locomiolive (haw) tions to the Tresident to lower the American Locomotive pf tariff on sugar have aroused western American Metal. .. Maracaibe Oil. farmers to a4 point where they are American Radiator . g 2 Market Street Railway. Am Ship & Commerce . ¥ ks 3y Market St Railway pr pf. planning to take whatever steps may American Smeiting & i K Market St Railway pf = he necessary 1o prevent a change in Amcrican Steel Foundry Market St Railway 2d pf. the present rate, according to an- American Sugar Refinin Marland Oil & Refining. ¥ Am Sugar Refining pf. Martin-Rockwell . rauncement made today by Gray Am Sumatra Tobacco. Martin-Parry . Siver of the American Bureau Ped- Am Telephone & Cable. . .. Mathicson Alkali. eration. with headquarters here. Am Telephoue & Teleg . “ 4 3 56% Maxwell Motor, Class A Mr. Silver statcd that the farmers "\'x'r":’r‘i"::“":,';:;\::; : v :‘"{;." M;vter,('lSAlmB ey 2 S 4 c a rtment Stores. o have representatives in Washington Am Tobacco pf (new) Mexican Soaboard. . 89% Netherlands s 1972. 92 . stocks have been greatly reduced studvinz the situation and watching Am Water Works & Elec developments. He asserted that the Tariff Comm on would be asked ta reopen its hearings, if such a course should scem expedient to the L H ] 533 3 £ 58§3=§l§ b §32% H 2858 T 1 A steady grain market is reported by the United States Department of ‘ Agriculture in_its weekly grain mar 3%% Chiness Govt Ry bs 90% 3 ket review. Wheat prices held steady throughout the week and closed the month in a firmer position than at the cloge of the previous month. Ther: has been a continued heavy world 7% L 65 1962 . 345 and what appeared to be u large sur plus has been rapidly consumed Stightly more than half of the ent apal 954 . . gg-a :Jst“n::eu!l?.).l:v:lrlnn 63 1947, mated cxportable surpius of wheat i o g 8 82 74| Argentina and Australia has alrc 724 Lyons 65 1934 72% Marseilles 63 1934 B e 82 |Peen exported. The large Can ‘ = §323 b |asae |~ ISR SNE 2 2 X Ree 2s2 "5“nu#tsn & o 1 <l we s33333e 89% French Govt 7%s 194 T1% Japanese 4s 1931...... Il+4 11141+ 14444] 2o | FEF | aase aktow ‘American Woolen pf. M Seaboard ‘1"!. 109% Norway Se 1940.. the stocks in commercial el Am Water W& I parpi. b g 65 Paris-Lyons-Med 6s 1958... 76 76 the United Statee are o farmers, i change in the tariff would be prevented in no other way, Am Water W. Elee 1st pf. v ' 2 A " 104% Queensland 7s 1941 o 000.000 bushels lurger Kmerican Woaten. oo or e 5% — 2 = Py Siepfarged 99% Queensland 6s 1947... ... 000 99% 395 | correxponding time 1au « }e added. the American farm bureau might find it expedient to go to Con Fress and urge the passage of legis Jation to retain the prevailing suznr‘l schedule. Farm Bureau's Positien. terested from the vicwnoint of his Proteciion until the tarifis which are unfair to him in many other lines are_adjusted “Thai will apply net only to sugar, Sut to hemp. butter and cattle and all the thines on which the farmer frals he is lwncfited by the present tarifm What form will the farmers’ op- | asition take?” Mr. Silver was asked. | We will_oppo it by appearing ; the Tariff Commission, if the an be d, and stating our views. W o to Congress with a bill if the Tariff Commission adnpis ourse which we feel is azain interest.” In_the case of the sugar schedule the Tariff Commission has held two Fearings, at neither of which was the farmer represented. Apparently the cas: has been closed, for the com- mission is engaged daily in the con- #deration and examination of the €ata. The commission's report to the T‘-r-'fvjlfl\r it is reported. is being speeded up with a view of having it Placed in his hands by July 1 Coemmission's Parpose Reported. "“Jh]‘\h’r] reports have appeared with- in the past week st ing that the com- mission. by a vote of 4 to 2, would Tecommend i reduction in the present 1 cents a pound on sugar. ission. which is composed of membe: d been regarded gen- erally as e v divided. 3 to 1. on the Question. but the withdrawal of Com- missioner 3 i tion in ¢ 2he finan Youisiana sugai property, has given a majority of ane to the group of three mmembers reported to favor a reduction. At the Tariff Commission it was said today that the published reports were unfounded. and that no decision had been reached as vet. The withdrawal of Commissioner Giassie from the pro- ceedings was confirmed, but it was said that the remaining commissioners had only recently begun their consideration of the evidence, and that the case had Tot moved to u point where a decision could be made. ‘eresee Reports Verified. vers in touch with the proceed- howeve are inclined to believe that the published reports probably wili be substantiated. and that a 3-to-2 de- cision to recommend a reduction in the tariff will be forthcoming. The farmers’ interest in the case, it ¥as explained. is that of the grower. Tnder the present tariff, representatives of the farmers and beet sugar manufac- turers state, the raising of beets in Cal fornia, Utah. Colorado and other west- ern states is one of the few things that yield a profit to the farmer. An in- Creased acreage is being planted in ®ugar beets under the present rate. If the rate is lowered, it is claimed by these interests. the raising of sugar | heets will no langer be profitable to the and the manufacture of beet United States will be heavily handicanped. i NEW YORK BANK CLEARINGS. NEW YORK. May 31.—The actual eondition of clearing house banks and for the week (five an excess in reserve of This is an increase of $32.846,890 The statement follows: Loans, dis- counts, etc.. $4,781,930,000; decrease, $2.520.000. Cash in own vaults, mem- bers Federal Reserve Bank. $12,480,- #90: decrease, $3.220,000. Reserve in own vaults, state banks ®f member banks, $551,081,000; in- erease, $35.403.000 Reserve in own valuts, state banks Bud trust companies, $5.075,000; de- crease, $91.000. Reserve in depositaries. state banks and trust companies, $10,947.000; de- crease, $630.000 United States deposits deducted, 5 demand deposits, $3, 874.531.000: increase, $13,017,000 i Time deposite, $493, crease. $3.223.000 B12,000: increase. $54, rve, $570,103.000 7 in-| | ks and trust companies in greater New York, not | dncluded i clearing house .88 3 % Deposits 4l Meserve nk of New ¥ . $T4,428.000; in- creave, $277.100, ! Tn(al’ depo. . $R96,844,000; de- crease. ‘31 R, Eliminating amounts due from re- ®erve depositaries and other ban and trust companies in New York and United States . $546.204,900; decrease, . cash in vault, $31,202,900, Trust ompanies, cash in vault, 867,910,600, COTTONSEED OIL GAINS. NEW YORK, May 31l.—Covering of @horts and buving by houses with southern connections lifted cotton- #ced oil 14 to 17 points. Higher lard awas a factor. Realising sales brought sbout a little reaction before the . Net gains were 8 to 14 points. 6.200 barrels. Prime crude, 8.00a do.. summer yellow spot, 9.95a July clésed, 9.90; September, October, 9.64; December, . wli bid RATLWAYS MARKING TIME. NEW YORK. May 31.—The Times toda Progress in the railroad is markin sions of various cha: acier are being made, For example Ine Zockholders of the Narfolk and Western are waiting for some deci- &ion on the part of the Pennsylvania te what can be expected from the Proposed lease. Those interested in the Denver and Rio Grande Weatern 1 “The farm bureau.” Mr. Silver said. | g¢ “will oppose the disarranging of the| 7 tariffs in which the farmer is in-| 180 et S PR 5 s sbaso Anaconda Cepper. Armour & Co 7% pf Arnold Constable & Co. Asso Dry Goods. octated Dry Goods 18 Asseciated Oil (new) . Atchison, Topeka & & ¥e. .. . Atchison Topeka & S Fe pf Atlantic Cosst Line. ........ | Atlantic Gulf & West Ind. . Atlantic Gulf & W 1 pt Atlantic Refining. Atlas Powder. Austin Nichels Baldwin Locomotive Haltimare & Ohio. Baltimore & Ohio pt. Barnsdall, Class A Barnxdall, C Bethlehers Steel . Bethlehem Steel pf new. . Bethlehem Steel, 8% pf. Eooth Fisheries. ... British Empiro Steel 2nd p! Brooklyn Edisen Electric. . Brooklyn-Man Transit. .. Brooklyn-Man Transit pf Brooklyn Union 3 Brown Shoes. . A Z Bush Terminal Bldgs pf. Butte Copper & Zinc - Butte & Superior - Butterick Company . . - Caddo Central Oil Ref... Calumet & Ari Calumet & Hy Canadian Pacitic ~ Case Threshing Mach pf. ... Central Leather Co. Central Leather Co p! Central Railroad of N J Century Ribbon Mills Cerro de Pasco Copper. Chandler Motor-. .. . Chesapeake & Ohio. Chicago & Alton. . . Chicago & East Illinois Chi & Eastern Illinois Chicago & Great Western. ... Chicago & Great Western pf. Chi, Milwaukee & St Paul. ... , Milwaukee & St P pf. Chicago & Northwestern Chicago & Northwest pf Chicago Pneumatic Tool Chicago, R I & Pacific. . Chi, R1 & Pacific 6% Chicago R I & Pacific nicago, St Paul Min & O.. hicago Yellow Cab... % Coca-Cola. ... Colorado Fuel & Iron Colorado Southern. . Colorado Southern 1st p! Columbia Gas (new) Columbia Carbon, . Commercial Solvents, A.. Congoleum Company Consolidated Cigar. . Consolidated Gas new . Consolidated Textile Continental Can. . Continental Motors. Corn Products Refining. Corn Products Ref pt. Cosden Company Crucibie Steel . Crucible Steel Cuban-American . Cuban-American Sugar Cuba Can Sugar. . g Cuba Cane Sugar pf. Cuyamel Fruit. . Danlel Boone Mi Davison Chemical. Delaware & Hudson . Delaware, Lacka & West Detroit Edison. Dome Mines. Du Pont de Nemours Duquesne Light 1st pf. Endicott-Johson. Erie Railroad. . Erie Ratlroad 1st pf. Erie Railroad 24 pf. Famous Players-Lasky . ¥ifth Avenue Bus. Fisher Body . ¥isk Rubber. ¥isk Rubber ist pf. Fieishmann Company . Foundation Company . Freeport-Tex: Siae General American Tank. General Am Tank pf. General Asphal General Baking. General Cigar. (General Motors. . General Motors pf . Genera] Motors 6% neral Mators 7% deb General Petroleum. . ticneral Refractories Gimbell Brathers Gold Dust 3 Goldwyn Pictures. Goodrich (B F) Company . Goodrich (BF) Copf...... Goodyear Tire & Rubber pf Goodyear Tire & Rub pr pf Great Nerthern pf . . Great Northern Ore ctfs. Great Western Sugar. Guif, Mobile & Northern Gulf, Mobile & Northern pt Gult States Steel, . 4 Hartman Corporation. Tlinois Central. . 1itinois Central pf. Independent Oll & Gas. Indian Motorcycle. Indian Refining. Inland Steel. ... Inspiration Copper Interboro ‘Transit. . . Internat'l Bus Machines. .. International Cement. .. . Internat’l Comb Engine. .. Internat'l & Great Nerth. . International Har, new. .. .. Inter Mercantile Marine. . . Int Mercantile Marine pf. . International Nickel International Paper. loter Paner pf stamped. Invincible Oil. .. Iron Products. . . o] amane » FeeFei sFe mc:" ' - & o g|srmnmaie lnnm.fl[ o o3 soa | Ioa;;luldn‘l |<| ] |3onanta |.m§! I§u| ]n-zfiq-»ulnm-.l-m-h-;} | ];]a' |§;..om| stlm;v\n.qA seseds Fe@es¥ef oF B e | faey={ ] || <} + 55593 gegagee Nash Moters. . Natianal Acme National Biscuit........ Nat Department Stores. Nat Knamel & Stamping. National fead. ..... 2344 New Orleans, Tex & Mex . New York Ail Brake. . N Y Air Brake Class A. New York Central. ... New York, Chi & &t Louis. New York, Chi & StLpf.... 4% 14 . 126%2119% 25% 24% 46% 46% 62% 51% 18% 147% . % Packard Motor Car pf. Pan-American Pet Trans. Pan-Am P Trans Class B. - Park & Tilford. . Parish & Bingham Penna Coal & Coke . Tennsylvania Raiil Penn Seaboard Steel People's Gas, Chicago. Pere Marquette. . Pere Marquette pf. Pere Marquette prpf. Philip Morris & Co. Phillips Petroleum Plerce-Arrow. Pittsburgh Utilities pt Pittsburgh & W Virginia. Postum Cereal. . Postum Cercal pf. Pressed Steel Car. Producers & Refiners. Public Service new Public Service 7% pf. Public Service 3% pf. Puliman Co Punta Alegre Sugar. PureOil. ..... Railway Steel Springs. Ray Consolidated Copper. ... Reading 15t pf. Remington Typewriter. Republican Iron & Steel Reynolds Spring. . . Tobacco, B. Reynolds Tobacco, pf. Royal Dutch ctfs (NY)... St Joseph L. St Louis-San Francisco St Loujs Southwestern . Sears-Roebuck Shell Trading Shell Union Oil. Shell Union Oil p: Simms Petroleum. Simmons Company Sinclair Con Sinclair Con Oil pf 2 Skelly Oil. .. swis Sloss-Sheflield Stl & Tron. Southern Pacific Southern Railway Southern Railway pf. Superior Oil. . Texas Company . Texas Gulf Sulphur. .. ... Texas & Pacific. Texas & Pacific Coal Timken Rol United Railway Invest 2 United Railway Invest pf. U S Cast Iron Pipe & Fdy. . USCastIr Pipe & Piry pf. U S Distributing Corp's . U S Realty & Improvm’t pf United States Rubber. U S Rubber 1st pf. . U S Smelting & Ref. U S Smelting & Ref pt gn!ld States Steel. Vanadium Corporation. Virginia-Carolina Chem. ‘Va-Car Chemical pf. ‘Va Iron, Coal & Coke. Virginia Railway & Power 'V Vivadou Inc. . 42'5 Th ¢ a1 6% 87% Rio de Janeiro 8s 1! 101% Sweden 6s 1939. 111% Swiss Confed & { 106% United Kingdom 5%s 192 98% United Kingdom 51%s 1937 INDUSTRIAL AND MISCELLANEOUS. 82 Amer Agri Chemlcal 7%s 1941. 87% 92 Amer Smelt & Ref lst bs 1947.. 96% Amer Sugar Refining 6s 1937.. 9T Amer Tel & Tel cl tr bs 1946.. 92% Amer Tel & Tel cl tr 45 1929.. 841 Anaconda Copper cv deb Ts, 38 84% Anaconda Copper 63, 1953 2 83% Armour & Co 4%s 1939. 96% Atlantic Refining deb 58 573 Bell Tel (Pa) ref 5s 1943 873 Bethlehem Steel p m 55 1 96 RBethlehem Steel s f 63 1943 107% Brooklyn Edison 7s D 1340 9214 Central Leather bs 1925. 125% Cerro de Pasco 8s 1931. 99 Chile Copper 6a 1932.. 86 Cons Coal (Md) lst ref 53 87% Cuba Cane Sug cv deb 3s 1930 104 Detroit Edison ref 6s 1348 106% Du Pont de Nem 7%s 1831. 1 89 Empire Fuel & Gas T%s 1937.. 100 General Electric deb 59 1852 +4++1 (014 1+ [RE=S [ I S 96% Humble Oil & Ref 5%s 1932. 99% Indiana Steel 5s 1952. 79% Inter Mer Marine 65 1941. 823 Inter Paper 53 B 1947 86% Kelly-Springfield 3s 1331. 88 Lackawanna Steel 58 1950 95% Liggett & Myers 5s 1951. 9% Manati Sugar s f 7%s 134 25% Midvale Steel 58 1936. 97% New England Tel 5s 1 109% New York Edison 1st 6% 98% N Y Gas E L H & P 55 1948 104 New York Tel 6s 1941 4 93% New York Tel 4%= 1929. - 91% North American Edison és 1352 L 88 Sinelair OIl 78 1337.. 97 Sinclair Crude Oil 5%s 1925.... 98% 100% South Porto Rico Bugar 7s 1941 101% 93 Union Bag & Paper 6és D . 93w 111% United Drug cv 35 1841.. 79% U S Rubber 1st & ref 53 1947 99 U S Rubber 7%s 1830.. 102% U S Steel s f 55 1963 87Y% Utah Power & Light 52 Va-Carolina Chem s f 7s 1947.. ¥ % 29 Va-Carolina Chem 73s ‘37 war. 30 1077 Western Union Tel 6%s 1936... 111 79% Wilson & Co 1st 6s 1941. 50 Wilson & Co cv Ti%s 1931.. RAILROAD. 855 Atchison gen 4 1985.... 864 Atlantic Coast Line 1st 4s 19; 96% Balto & Ohio pr In 3%s 1925.. 81% Balto & Ohio gold 45 1943. PCT ) EFEFEEFS SRS o I B S A R S I A - 86% 79 B&OPittsLE & W Va 45 1941 83% 96% B & O Southwn dIv 3%s 1935... 98% 71% Brooklyn-Manhat s f 63 A, 1968 76 111 Canadian Northern 6%s 1946... 112% 78% Canadian Pacific deb 4s........ 80 9214 Carolina Clinch & Ohio 53 1938 #5 Central Pacific 4s 1949.... 887 Chesapeake & Ohio cv 55 1946. . 8814 Chesapeake & Ohio cv 4%s 1930 8415 Chesapeake & Ohio gn 4%s 1992 Chicago & Alton 2s 1949 i Chicago & Alton 3135 195 B & Quincy 1st ref 5s 187 i & Eastern 11l gen 5s 1951. Chi Great Western 4s 1959.... 49% Chi M & St Paul ref 4%s 2014. B4 Chi M & St Paul cv 53 2014.... 84% Chi M & St Paul cv 4%s 1832.. 77% Chi M & St Paul gen 41s 1989. 0% 106% Chi & Northwestern 6l:s 1936. l’l;:’\«, 74 .- I+++1 11 71% Chi & Western Ind con 4s 100% C C C & St L ref 6s A 1929 102%-Cleveland Term 5%s 1972 . 105 80% Colorado & Southern 43s 1935 $1% Cuba R R 58 1952............. 82% 97% Delaware & Hudson 5%s 1937.. 100% 66% Den & Rio Grande con 4s 1936. 7l 34% Den & Rio Grande 1stref 551955 36% 84% Detroit United 4%s 1932. 20% 61% Erie 1st con 48 1996..... B3% Erie gen lien 4s 1936. 54% Erie cv 4s A 1953, §9% Erie cv 4s D 195 102% Grand Trunk % 110% Grand Trunk 7s 134/ 106% Great Northern gen 7s ..o 96% Great Northern gen 5%s 1952. 99% 80% Hudson & Manhattan ref 551957 831 §8% Hudson & Manhattan adj5s1957 61% 100% Iliinois Central 5%s 1934.. 34% 11642117 32% 34 (R = = O IR O I R ) A 14 41401 73% Kan C Ft Scott & M 4s 1336... Kansas City Southern 3s 13| 84% Lake Shore 45 1328. 92% Lake Shore 4s 1931. 101 Lehigh Valley 6s 1928 Douis & Nash unified 45 194 101% MStP &S S M 6%s 1931 5% Mo Kan & Tex 1st 4s 1990, 78% Mo Kan & Tex pr In 5s A 1962 51% Mo Kan & Tex adj 65 1967. 87% Missouri Pacific 63 1949, 51% Missouri Pacific gen 4s 1 86% N O Tex & Mex inc 5s 1935 05% 103% New York Central deb 6s 1 83% New York Cent Web 4s 1934... 9 9 New York Cent ref imp 5a 20 70% B9 N Y N H & H cv deb 6s 1348 48 39% N Y West & Boston 4345 15 89 86 Norfolk & Western con 4s 1996. 88 132 106% Norfolk & Western cv 6s 1329., 123 59% 56% Northern Pacific 3s 1947. . 5% 80% Northern Pacific 4s 1987 D ossu 101% Northern Pacific ref imp 65 2047 104% i 101% Ore Short Line gtd 55 1946..... 103% 5% " 79% Ore-Wash 1 225 : 99 Pennsylvani 101% 101% 90% Pennsylvania gen 4% 93% 933 01% 23% G AR & R TR RN L 5 % 2 ) 2% % . Pennsylvania 6%s 1936 . 109% }9. 111% IO::: ':r* r::n-y& Eastern inc 4s 1990... 30 ) ) 91% Pere Marquette 1st 5s 195 26 ” Reading gen 45 1997 2% 5% % +1t+4000 0010 - H Furopean Winter Wheat. Crop conditinns of winter wheat the Iurapean countric probubly slightly above the average. There were unfavorabic reports from United hard arly in the w dry weather, but show terially relicved the sit date. The remaining acreage t is reported (o be doing well because of the wet, cool weat s vailing in that arca. Imporis of wheat except in bond for milling s have practically been disc a been ver: entirely “of wheat from 1 coast. cash demand for sp was slightly more urge week and premiur about 1 cent per b milling grades milling demand winter wheats, = were plenishing their stocks, fea outcome of pending legislatior orop wheat was bring offercd for delivery tember mrice gulf, but bids were about below this basis, and very fev have been made Treud of Corn Prices The trend of corn pr during the time last of corn. tog favorahle have becn ing factors too wet and germination of the crop : erable replanting has White commercial stock larger than at the cor time last vear, they have creasing steadily during the past few weeks. Prices have been maintained more because of light receipts. however than by an active demand. Buvers bave been taking only sufficient corn {for their immediate necds and a material increase in receipts would probably aken the market. No 80% | Breat increase in the movemen 100% | BT as \ the & ment i expected until after the rush of fars work, but if unfavorable weather 90% | conditions co! 531 | ment mav no | but tittle 4 110% | vailine at 81 |week | Little Change in Oatx. | . The oats market ch throughout the month close prices were same as at the heginn weekly movement continur volume. but stocks in com channels continued to decre at the close of the week about half the amount at responding time last year. New crop oats from Texas were being offered d shipment ces materially lower than old ¢ grain and tended t L ern demand fro; markets t continued quict export d the week, but : tically the o mills”and continued upward trend which prevailed durins the previous week and at the clos. prices were 4ai higher WEEK OF DULL BUYING IN NEW YORK MARKET Average Day's Sales About Half Million Shares, With Prices Showing Reactionary Trend. By the Associated Press NEW YORK, May 31.—Stock and bond prices manifested a reactionar trend in this week's ubbreviated mar- kets. Trading was extremely dull, the average day's sales being about onc half million shares. This was widely attributed to speculative uneertainty over the ultimate outcome of pending legislation Railroad earnings statements fo April. which made their appearance | large numbers this week, generally com pared unfavorably with those for the same month laxt vear. This was par ticularly true in (he case of St Pau which showed a deficit in net operating income of nearly $700.000 Tast monih ay compared with net opera income of $1,066,284 in April, 1 Larze redoc tion in net also were reported by fhe New York Central. Pennsylvania and some of the other large systems Break in St. Paol Ixsuex. St Paul issues broke to new leveis for the year following publication of th- monthly figurcs, but made partial re covery of their loxs later in the week Heaviness also was noted in 2. number of other railroad issues, which previous Iy had showed independent strength Steel shares sagged on reports of further curtailment of production. Bad weather throughout the east is said by leaders of the industry to have delayed important _construction. Reduction of the Mother Lode dividend again called attention to the unsatisfactory condition of the copper industry, with the red metal selling below 13 cents a pound *stablishment of new low prices for the year by raw sugar and raw silk dur- ing ‘the week naturally brought ahout some selling of those shares. The silk issues made good recovery on reparts that some of the largest manufactirers had liquidated 1r high-priced sitks commodity prices sustained periods rumors that rrent sales were rynming below last vear, and that some of the large manufacturcrs were considering either price culs or a urtailment in production. Has Depressing Influeme. Further expansion in gasoline pro- duction and stocks on hand had a de- pressing cffect on the oil shares, selling PR i M & 5 H of which also was influenced by uncon- firmed rumors of further price cuts in the midcontinent field. Money rates wero relatively easy at the beginning of the week, stiffened fater on the withdrawal of funds in anticipa- tion of month end requirements, hut eased again toward the close of tho week on indications that the drain on banks would be less than expectod. : 86% | Worcizn oxchanges held | reislively % West Bhore lut 43 2361 o 81% | stcady in very quics trading. o are awaiting_some action from the Interstate Commerce Commission. The same is true in the case of the Carolina. Clinchficid and Ohlo leass | % to the Atlantic Coast Line and of 3 = Kansas City Southern, the Florida Northern and Eastern yser (Julius) & Co. The latter company is still w u e z:,,,,,,‘m,u-n_ for the approval of the comm 62 % Kelly-Springfield Tire <o preceed with its construction, Any ; S ©one ef these decisions, it was pointed | 45 Honpsenth Cemnets eut this week, might result in activ-| 11% = Keystone Tire & Rul #ty among (he railway shares. e e E AR 3| SR e & o !Sl. ¥ EESRRRRRE sroPrels geeseyzeissenags 2414 37+ § YellowCsb. 46% — 1 Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or balf yearly declarations. Unless otherwise noted, extra or special dividens are mot Included. fPartly extra §35 1 .