Evening Star Newspaper, June 13, 1924, Page 28

FINANCIAL MARKET CONFUSING IN TODAY’S TRADING Majority of Industrials Take Part in Reaction—Low-Priced Rails Strong. G. 0. P. TICKET SATISFACTORY Qils, Steels, Coffees and Sugars Fail to Arouse Buyers. BY STUART 110 The Star. K. June 13.-~Price changi n very much mixed in the k market today. Some of the in- justrials, including the cquipments and the were the start and evidently we : sold under cover of the strength in the medium and low priced rails, As the day the majority came more Steel certainty drnd last week of buoy w the steels, oils. 'm went on the of pronounced 1d the voted on be- m un- divi- in the rial sethle on the nexi the ind actively regarding which will be July ney was he went out of Steel and Baldwin 1Lo- it fell off. shuwed an inereased + had boen of & shor Baldwin pros- for i common completely comotive, the way that, despite reports of ale of operations, thé ri nothing more than a run- interest in a narrow murket Locomotive admittedly hus no ts of paving unything more indefinite time to com: und al split-up 1= no io per cent div well above Boost Railx. bick of most of the rails was inds Rumorx entive th the various rumors going the r about po combinations such the Inte Commerce Commission now e voring to e Inasmuch s in the tentative nzs Rock Isiand has been pl with Southern Pacific, the buying of ok Island stocks was taken to n that plans might be under wauy 4 union of these two prop: yemal approval by the com gion of the acguisition of the Inte national Great Nurthern by the T id Mexico was fol- 4 by advance in the securities of the former company. Soaboard Air Line' preferred mude @ new high above 25 and Western Pa- cific was bought on intimations that c might be a stock dividend from holdings of the Rio nde in low-priced sible tat d bri; pol Pashes Colorado Fuel Tool operations were aggre eonducted in Colorado Fuel and [rl)l! and the new bid up across 90 the ext rdinary the company cont monthly earnings figu a sharp upturn in Gene which brought sympathe fnito Westinghouse und Allis-Chal- ninrs. The electrical industry is one qnarter in which there 1ot down On the the oils, s partic sSnowe tha Stuations w encourage buying. A Atlanti efining was a feature among the oils. Anaconda Copper was heavily sold because of the re- peated failure of predictions of bet- tor prices for the copper metal to be realized Westinghouse Again to Froat of new busi d been booked Westing- for Japanese account drew at- ntion again to the stock. ing- business has fallen off about 20 per cent as compared decline of 30 to 50 per cent [ other lines. The general < thut no further additions to ization will be necessary for at vear to com ying of Allied Chemi been induced by dividend talk. waid. in fact, that the dividend will not increased this vear, but that when i heet for 1924 a decided- - first time on comparisons which Blectric other hand, the failure of cls. coppers and sugars 1o in_the improvement their particular trade - still too uncertain to sharp drop in Announcement only with in_ son has not arkets today in two things would publican nomination, further response they ssday's lowering first what ke of the cond what would give to »f the federal count rat The ticket 1 at Cleveland Thursday night itogether pleasing from a con- ive stendpoint, which meant that it was altogether pleasing to the investment community Wall street was more inclined to consider how the complete turning down of the progressive and radical eiements would affect the third party movement, with it upon the result. of the day plainly showed the fin cial community more puzzled ovcr the political situation than it had been betore the Cleveland convention. Special Atteation to Trade. In more speculative quarters it was urse of trade r of at- tention. Because steel trade author- ities have said they could see no im- mediate turn for the better because sugar prices continue on an unprofit- able basis and because the copper in- dustry has been disappointing, the stocks representing these lines re- fuse to take part in the improvement shown in other directions. The interesting point about the May foreign trade returns was the rather sharp decrease in_imports. They were reduced fo $3 0 from $324,000.000 in April 000,000 in Februa This. of course, is one of the phases of the domestic trade Teaction, . 1t has shown itself in reduced demand from foreign ra and unfinished materials Meanwhile, bearing intimately upon recent money market developments was the net gold import of $40,450,000. This compared with an average for the six months previous of 00,000 The totul was undoubtedly affected by operations incident to the financ- ing of the semi-annual interest on the British war debt. CLOSING IS IRREGULAR. Atlantic Refining Continues Loss Until Gong Sounds. - By the Associated Press. NEW YORK, June 13.—Active buy- ing of the railroad shares, fifteen of which attained new peak prices for the year. and persistent selling of thé oils, eral of which touched new Jows, were the outstanding incidents in today's irregular stock market. Sales approximated one million shares The closing was irregular. Allanllc Refining extended ite loss to 4% points, at 95, in the late trading, but furthér accumulation was noted in the western railroad shares. Markets at a Glance NEW YORK—Stocks irregular; teen rails at 1924 highs, Bonds strong; Carolina, Clinchfield 6s jump 6 points. Foreign exchanges stead: francs firm on election news. Cotton steady and unchanged. Sugar higher; s spot mar- ket Coffee firm; CHI GO—Wheat steady; sympathy with Winnipeg. Corn firmer; better cash demand. Cattle steady. Hogs active and higher. et s Before You Invewt—Investigate. Ever notice that the fellows who try to get rich quick are always e ——— fif- French New Orleans buying. heavy | reaction in | New | strength | has been no | It is | interest cenw | 6% T64% 6 11 97% 72 114% 454 Adv. Rumley... Air Reduct (4) .. Ajax Rubber. Aaska Juneau. All Amn Cab (6) Aliied Chem (4). {A1C&Dpf (7)., Allis-Chaim 4), | Allis-C M pf 7). Am Agri Chem. .. Am AgriChem pt AmBrS&F (5). Am Can (16) Am Canpf (7). AmC&F (12).. Xm Chicle Am Inrernat, - Am LaF FE(1), Am Linseed pf. . Am Locomo (§). Am Radiator (4) AmRoll M pf (7) nEm & Re (5). AmS& R pf (7). Am Stl Fdys (3). Am Sugar. .. Am Sumat Tob lAm T &Cab (5). | Am T & Tel (9).. | Am Tobac (12) . | Am Tob pt (6).. ! Am Tob B (12).. | #n Wuter Wks. Am W W ps (6). | Am Woolen (7) Am Wool pf (7), | Am Zine pr. | Anuconaa Ann Arbor.pf. As80 Dry G (5). Aseo Ofl (13 AtT& S Fe (6) AT&SF pr (5). Atl Birm & At.. AtGuIr& WI. . At Gulf & WIpr | Adlan Ref (4)... | Atlun Ref pt (7). Austin-Nichols. | Bald Loco (1) | Bal & Ohio (3) .. | Bal & Oh of (). | Barnet L pf (7) ! Rarnsdall A, | Barnsdall B. .. | Bleh Nut (2.40) | Beth Steel (5) Beth St pf (7). Booth Fisheries. Br'k Edison (). Brk-Man Tran. . Br Man T pf (6). BrklynUnG (4) Brown Sh pf (7). Burns Br (14 Burns Br B (2) . Butie&Superior Butterick Co | Cal Pet (1%) Callahan Z Lead Calumet & H 50c. Can Pacific (16) . | Case Thrs'g pf. | Cent Lea Co pt. ¢ [CRR,NJ (112). .Cc-depaacu). | Chand Mot (6). o | Ches & Ohio (4). | Chicago & Alton. s | Chic & Alton pf.. | Chic & East 111, | Ch & East 11 pt. Chic Gt West. .. Chic Gt West pf. . Ch Mil & St Paul. | Ch Mil & St P pt. Chi & Nwn (4) | Chic RT & Pac. |{CRI&P DL (6).. CRI&PDPL(T). | TSP Min& O Chile Cop (2%). | Chino Copper. Coca-Cola (7). .. Colo Fuel & Iron. Colo Southern. . . Col So 1st pf (4). Col Carbon (4) ... |ColG & K (2.60).. | Com Solv A (4). . | Cangoleum (3). Consol Gas (3) Consol Textile. Cont Can (4). Cont Ins (8) . | Cont Motors (20¢) | Corn Products. | Corn Pr Rpt (7). 120 | Cosden Co. . | Cosden pf (7). Crucible Sti (4) Crucib Sti of (7). Cub Am Sug (3).. Cuban Cane Sug. Cub Cane Su pt.. | Cub Dom Sugar. Cuyamel Fr (4).. | Dant Boone M (3) | Davidson Chem. Del & Hud (9) |DeiL&w (6) | Det Ed Co (8) Dul $S & At pt. | Du Ptde N (8) Du P de N db (6) Durh Hos pf (7). | Bastman (i6%). Eaton Ax (2.60).. E Stor Bat (4). Bik Horn Coal End-John (5).... Erie. . Erie 18t pf. . 344 Erie 2d pf. . 29% Fairbanks-Morse. 27% Famous P! (8)... 78% Famous P1pf (3). 97% Fifth Av B (64c). 10% Fisher Bdy (10).. 187% Fisk Rubber. % Fleishman (3) 50 Foundation (6).. 71 Freeport-Texas.. 913 Gen AmTC (3).. 39% Gen ATCpf (7).. 95% Gen Asphalt. 38 Gen Baking (6).. 98 General Elec (8).. 224% Gen El epe (60¢). 11 Gen Mot (1.20)... 13% Gen Mot db (§).. 82 | Gen Mot pf (6).. 8% Gen Petm (2). 89i Gimbel Bros 49% Gold Dust. 355 Goodyear pf. - 431 Granby Consol 12h Gray & Davis 5 Gt North pf (3).. 59 Gr Nor Ore (3)... 26% | Grt Wstn Su (8). 89 Guantan Sugar... 6% Gulf Mo & Nor... 1B% GuMo& N pf (5) 69% Guif StStl (3)... 66% Hartman Co (4).. 35% Hayes W'l (3).. 36% Houston Ol 64 Hupp MotC (1).. 11% Ilinows Cent (7).. 108 111 Cent pf (6) ... 107X Indian Refining.. 6% Ind Refpf (7)... T4 Inland Stl (2%) 324 Inspiretion Cop.. 23% Interb Rap Tr. 21% Int Bus Ma (8)... 94% Int Cement (49 43% Int Com Eng (2). 23% Intern & Gt Nor.. 29% Internat Har(5). 86 Int Mer Marine! 8% 334 13% AT T2% 74 14 56% 12 59 27a Int T&T($) Invincible Oil. . . Iron Products (§) Jewel Tea. Jordan Mot (3). Kan City South. . Kelly Spr Tire. Kenne Cop (3) Kinney G R Co. Kresge SS (8) Laciede Gas (7) Lig & Myrs (3) Lig & Myrs B (3). 53% Lima Loco (¢) Loaws Inc (2). Incerpor. | Lerstliact B)..cu 36 Open. High. 106% 106% 14 56% 12 59 284 345 20 275 9 874 10% 189 T 50% 1 % 40 95% 38% 98 230% 11 134 €21 813 B9 49% 86 43% 1% 60% 26% 89 6% 16% 59% 66% 857 86% 4% 12 106% 108 6% 74 324 23% 224 94% 4“4 23% 29% 6 8i4 73 12% a1 168 20% 25 21 8 1% 56 445 33 b4% 53% 89 15% 5% 7% 86 Low. 6% 5% o 1% Ths 72 114% Close. 64 6% 7 1% 974 7804 114% THE Louis & N'sh (). Ludlum Sti (2).. Mcintyre (75¢).. Mack Cos pf (4. Mauck Trucks (8). Mack T 1st (7) Mack T 2d (7). .. Magma Capper. . . Man El modgtd 4. Man El Sup (4. Marr.caibo Oil Marland Oil BMathieson Al Maxwell Mot A, Maxwell Mot B! May Dpt St (5) Metro Ed pf ( Mex Seaboard(2). MexSeabd ctfs(2) Miami Cop (2) . Middle St Oil. Mis Kan & Tex. Mis K & Texpf... Missouri Pacific. . Missouri I'ac pf. . Monigom Ward. . Moo Mot (3)..... Mother Lo 37%c. . at Dept Stores. . Nat En & St. ... Nut Lead (R Y Air Br (4)... YABraA® Y Central (7). . YC&StL (8). v C&StLpf (6) Doci. . g ¥ Lock pt (5) Y NH & Hart. rfolk South. .. orf & W (18) North Am pf (3). North Pac (5) . Ontario Mining. . Onyx Hosiery - . Orpheum (17%). Otis Elev (n) (1). Pacific Oil (2 Packard (1 | Par Amer (4) Pan Amer B (4).. Penn C & C (4) Penn Railrd (3). Penn Scab Stevl. . Peop Gas Ch (7). Peoria & East. ... Pere Marq (4). Pere Mar pf (5). Pere M prpf (3). Phila Co (4)..... Phila Co pf Phila& R & 1. Phii Mor (50¢) ilips Pet (2) Pierce-Arrow pt. Pierce Oi!. Dierce Ol pf. Pitts Coal p Pitts & West Va. . Press StI C (4) Prod & ¥ Pub Ser N Public Serv rts Puliman Co (3) Punta Al Su (5).. Pure Oil (1%). Ray Cons Cop Reacing (4) Reading rts. Read 1st pf (2).. Read 2d pf (2). Rep It & Steel... Reynolds Spr (2) Rey Tob B (3). Rutland pf. Rossiz Ins A (6) . St Joseph Ld (2). St L San Fran. St L Southwest StLS'thpf (6).. Savage Arins Schulte (8) ... Seaboard Air L. Seab'd Air L pf. Sears Roe & Co Seneca Copper. Sheil Un O1l (1) Simmons Co (1), Simme Pet. ... c Con Oil (2).. Skelly OIl. ... Sloss-Sheft (6)... So P Rico-8u (6) South Pac (§) Southern Ry (5). South Ry pf (5).. Spicer Mfg. Std Gas & Ei (3). StOil Cal (2). StOil N J (1) StOilNJIpf (D).. Std Plate GI(T5¢) Stew't War (10). Stromberg C (8). Sfudebaker (4) Submarine Boat. . Superior Oil. . Sweets Co of Am. Tenn C&Ch..... Texas Co (3).. Tex Gulf (16%). Texas & Pacific. . Tex & Pac C&O. Third Avenue.... Timken (13%)... Tob Prod (6). Tob Prod A (7)... Transcont Oil. ... Un Pacific (10). Un Pacpf (4). ... UD1stpf (3%). Utd Fruit (10). .. Utd Ry Invest pf. U S Castlron F.. USCIPPL (D). .. U S Distributing. U S1Ind Alcohol. . USR&Im (8). USR&IpL\7) U S Rubber...... USR 1stpf (8).. U S Steel (16) U S Steel pf (7) ... Universal Pipe. .. Universal P pf(7) Utah Copper (4).. Ctah Securities. Vanadium Corp... Van Raalte...... Va-Caro Chem. Va-Caro Ch pt. Va Ir C&C pf (5 Wabash. ... Wabash pf A. Web & Heilb (1) . West Pen (4) ... West ELpf (7)... West Maryland. . West Mary 2d pf. Western Pacific. . West Pacpf (€). West Un Tel (7). West E& M (4).. Wheel & L Erie . Wheel & L Er p Wh Eag Oil (2) White Mot (4)..... Wickwire Sp Stl . Wilson &Co..... Willys-Overland. Willys-Over of. .. ‘Woolworth n (3).. ‘Worthington Pum Wrig WJr (3)... Wright Aero (1). Yellow Cab (5] Youngst 84T (). C12en Open. High. b4 204 2415 47 8% 49% 21% 10 bola 21% 351 34 45 114 69% b4 20% 16 6434 86 90% 90% 27% 87% 481 28 81 35% 44 Lk 86'e 9318 20% 20 20% 214 1% 877 174 48t 24% 6l 55% & 10415 15% 45% 17 62% 115 9% 1% 20% 674 109% 8% 9% 20 24 53 11k 251, 7% i 17 10 . 20% 24 53 1% 13 8% 68% 94 25 89 10% 47 64 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. w34 20% 15% 64k 85% 99% 90 26% 37% 1% 28 30 35% “ws 114% 851 923 20% 20 20% 2 13 87% Close. 3% 20% 15% 64% 854 89% 90% 26% 37% 43 28 20% 36% 444 11% 8514 915 20% 20 20% 2 18% 37% 165 48% 24 20% 6% 103% 7 54 123 104% 104% 1% b4% 9l3s 59% 74 9% 85% 5674 3454 19 384 664 19 1% 3% 76 15 4% 17 61% 115 5 9% 17% 22 68% 109% 604 9% 20% 24 53 1% 13 % 67% 94 25 20% 67% 109% 58% 9% 19% 24 53 1% 5 T 67% 87% 26 a8 389 10% 10% 46% 47 64 64 fPartly extra. | tPayable in preferved steck. rates as given im are the asnual cash Ixtest " guarter Unless _otherwise dividends are not inciuded. Call Money. . noted, by~ iy “or . Balt-vearly deciarations. extra or speelal High. 2 Low. Last. 2 2 HOURLY SALES OF STOCKS. 260,600 12m... 469,100 720,000 PENNSY TO BACK BONDS. The Cleveland and Pittsburgh Rail- road (‘amh‘ny was authorized by the Interstate Comme: rce Commission to- day to issue $9,928.850 of special guar- anteet belt‘t.nmm( Penneyiania Railroad A Avania Company, as assume the ohnnzkuu and lhll.llncl. stock and the BUYING OF BONDS REMAINS UNABATED \Prices Again Swept to New High Levels During Today's Lively Trading. U. S. ISSUES STILL HIGHER Four Liberty 4 14 Obligations Make New Peak Quotations. | BY GEORGE T. HU Special Dispateh to The Star. NIW YORK. June 13.—Prices for investment bonds continued today to make new high records. The advance coming, as it did, after four days of rising quotations was extraordinary. With only one exception every lib- erty issue and the Treasury 4%s made new high records for this year, and in every case except the 3% new high records for all time. The only gov- ernment bond to lag behind the fourth 47, liberties. As on the third, the advance was the sharpest in the Treasury 44s. ‘ In the feature w Bs. restment list the was the demand for | York, Chic St. Louls These were offered on Wednesday at 44 rading, which was inausurated he curb on a “when issued” basis. carried them to a premium at once. Today dealings were transferred 1o the stock ex- change. and the bonds changed hands in large volume 4 point wnd a half above the offering price I C. C. Decisionx Help. ons of the Interstate Com- ommisaion to consolida- ight about a gharp advance sues. The awarding Clinchfield and Ohio Coast Line was fol- cular upturn in the Consolidated A 65 of first 5s of 1928, The sed at 95%. They opened 5 points higher, and before sellinz ut 104%. The o8 n up to 99 on 4 The other case was that of the N. adjustmen Following the news that the comm sion had approved the acquisition of the company by the New Orleans, Texas and Mexico, the adjustment bonds of the I N. jumped 3 points. railroad Dec merce tions bro in two I of the Carolin: to the lowed b former “road's and in the had clo nearly Rail Bends Strong. the speculative ralls Missouri zeneral 4s were prominent, selling 2t a new high. Peoria and IEastern incomes jumped 3 points. All he St. Paul issues were fractionally her. In industrials Virginia-Car- olina Chemical is sold at the best price_on New issues included §2 Consumers Company first_m: . due 1934, at par, and $ on Rouge Electric Company per cent bonds, due 1 at vield over 6 per cent TODAY'S NEW ISSUES. In o New Financing Comes at Time of Exciting Trading. By the Associated Press. NEW YORK, June 13.—New bond |ofrerings today include $2,000.000 Bertha-Consumers Company, Pennsyl- vania first mortgage 7 per cent sink- ing fund gold bonds at 100 and ac- lcrued interest to yleld 7 per cent; | 31,000,000 American Public Service Company t lien 6 per cent gold bonds at to yield 6 per cent. {and $1,000,000 Baion Rouge Electric Company first mortgage i per cent gold bonds, Series A, at %3 and in- terest to yield more than 6 per cent. With the activity in the bond mar- ket continuing unabated, prices again swept to new high levels today. Fur- ther slackening of time money rates proved an incentive for general ac- cumulation and several favorable ! railroad developments brought sharp rallies in this list. Five United States government ob- ligations scaled new peaks—the Treasury 4%s and four Liberty 4is issues. French republic lines also attained new high levels, and gains ranging from one to three points were gen- erul among domestic corporation mortgages. RUSH AFTER BONDS | GREATEST IN HISTORY 0ld-Time Traders Recall Nothing Like Yesterday's Scramble at Opening. NEW YORK, June 13.—The scram- ble for bonds at the opening of yes- terday’s trading on the stock ex- change was unprecedented in the history of the market, according to old-time bond traders. Caught una- wares by the reduction in rediscount rates, Wall street flooded bond houses with orders, and the early trading be- came so “frenzied that the exchange machinery at one time was halted to restore order. Revised figures of the total sales for the day showed they were $2,000,000 larger than the first count revealed. SHORT-TERM SECUEITIES (Quotations furnished by Redmond & Co.) —Noon.— Bld." Offer 1081 1033, Alumioum Co. of Amer. Ts 1 Alumioum Co. of Amer. 7s 19; American American Tel. . pper 6s 1929 Anglo-American Oil Tige 1825.. Associated Oil 8s 1935 . of Canada 3s Northern 5s 19: Gentral of Georgla fu 1920 hi. 'Em R. 1. & Pacific 53 1926 Columbia Gas & El. 1st Gs 1927, Du_Pont 7lis 1831 s "".."“x?s‘.‘a‘“m"“ i oo Fisher Body Corp. Fisher Body Corp. e 1028 Kennecott Copper 76 i M., St. P. & 8. 8. M. Gige 1031 Morris & Co. 7%s 1870, 3 New York Central 6s 1 Oregon Short Line 45 1029, Penta, BB Ty 1080, re Oil 3123 1925 (Aug. 1) 4 "5 1962, Gester Tnion 6% Westinghouse E. Wheellng Steel 6 U. S. TREASURY CERTIFICATES (Quotations furaished by Bedmond & Co.) ——Noww.—— Bid. Ofter. sy r. 15, 1824. 100 77.32 s December 15, 1624. 4°° Marcn 15, 1825. %0 March 15, 1825 38 June 15, 195 4405 December 1 4%s March "1'5, “!flfi 78 September 143 Mben 15, f6o %8 December 15, g e SPURN HUNGARIAN LOAN. 'W YORK, June 13.—If an early flotation of the Hungarian ioan is rtaken, as indicated in London ‘llzg(::al l:nthe financial district, Amer- ican bankers probably will not par- ticipate. Lacking the guarantées which made the Austrian bonds ac- ceptable last year, the Hungarizn o |financing so far has not been able to. create much banking interest iz [ vox_BONDS Recelved by Private Wire (Bales are in §1,000.) UNITED STATES BONDS. {Fractions Tepresent - (hirty seconda: Exampl 1-3 means 1013-32.) Sales. High. Low. Olose. .. 515 101-5 100-28 101-4 4% 1102 102 102 90 101-7 101+8 1017 . 436 102+ 101-25 100-31 + 457 101-10 1016 "1p1-9 Lib 3d 4%s. .. 1022 101-31 101-27 101-31 Lib 4th 41is. . 1338 102-4 102 102-3 US4%s1962. 672 104=22 104=7 104-18 FOREIGN. Bales. High. .16 8% T8 399 921 90% . 53 102% 1024 64 91% 90% 100% 100% 104% 103% 103 108 109% 108% 92 1% 84% 834% 84% 83% 8 96% 100% 100% 100% 100% 101% 101% 102% 102% 96% 96! 103% 103 106 105% 43% 425 110 108% 91 904 96% 86' 96% 96!z 108 108 108 98k 110% 86% 9% 94% 101% 89 190% 97 101 91 ot % 97% 97% 90% 78% 85 84% 93% 95% 95'4 12 83% 8 £6% 101% 106% 93% 92% 96 100% 103 90 83% 8 85 104% 103% 96 95% 125 112% 1074 107% Lib 3%s. . Lib 1st Lib 24 4s. Lib 1st 43¢ Lib 2d 43 Law. Argentine 5: Argentine 653 Argentine Austria 75 Belgium 6 Belgium 7% Belgium 8§s. Berne 85 Bolivia 8s Bordeaux Ge. Brazil 7s Brasil 8s 8% 91% 102% 9145 100% 104 103 109% 92 8% 84 97% 100% 100% 101% 102% 96% 103% 105% 43% 110 904 6% 6% 108 108 96 110% 94y 94 Canada bs 1931 Canada 5s 1852 Canada 5325 1929 Chile 75 1943, , Chile 85 1926, Chile 851941 Chinese Gov Ry §s. |§ Christiania 8s. | Copenhagen 5145, 2 Cuba 5s. . 132 | Czechoslovakia §5. 32 Danish Munic 8s A. § Danish Munic 8s B. 1 Denmark 6s .22 Denmark §s....... 31 Dutch E15%s. 39 Dutch East I 65'47. 8 Dutch East I 65°62. 46 Il Salvador 8243, 4 Finland s { 6s 1945. 13 Framerican French Govt 7 French Govt 8s. Haiti 6s. Italy 616s 1926, Japanese 4s. Japanese Ist 4% Japanese 2d 4 Japanese 61. Jergens U M 65'4 Lyon 6s. Marseille 6s Netherlands 6: Norway 6s 19 Norway 6519 Norway 8s. 6 Orient Dev deb 6s. 11 Paris-Ly's-Med 6s. 66 Prague T%s .18 Queensland 6s. Queensland Rio de Jan 8s 194 Rio de Jan 85 194 Rio Gr Do Sul 8s... Sao Paulo City 8s.. 20 Sao Paulo State $s. 13 Seine Dept of 7s. .. 69 Serbs Crotes Slo 85132 issons 6s. . .o 18 eden 6s 49 Swiss 51zs 366 Swiss Confed § Ud Kingm 5% Ud Kingm 5 103 102% Zurich 8s. . 111% 110% MISCELLANEOUS. Ajax Rubber b5 9 83 824 Am AgrChem3s.. 7 96% 96% Am Agr Chem 7Ti:s 11 87 £6% AmChains{6s'33. 8 94% 93% Am Cotton Oil 5s.. 24 90 90 Am Repubdeb 6s.. 18 92 92 Am SmIt&R 1st5s. 31 94 98% Am SmIt&R 6 5 105 104% AmSugref6s. ... 11 98% 99 AmT& Tcltrids 136 96% 964 AmT& TecltrSs.. 38 100% 1004 Am T & T deb 5‘1! IZI 102% 102 AmT&Tcvés.... 3 117% 117% Am Water Wks 80 89% Anaconda 1st 6s 96% 86% 97 96% 86% 86 884 87l 99 99% 90 94 897y 964 104% 96% 108% 15 1 18 --185 9 .. 66 .. 69 . 8 52 3 Armour & Co 43 Armour of Del 5338 Atlantic Refin bs. Bell Tel Pa 5s. Beth Steel pm s Beth Steel rf 5s Beth Steel 5135 '53. Beth Staels {6s... Braden Copper 6s. . Brier H 6t st 5128 Bklyn Edison 7s D. Bklyn Union G 5s. . Bush T Bldg 55 '60. Calif Pete 61z Central Leather 55 Cerro de Pasco 8s.. Chile Copper és Cin G & E 5% 6! Col Gas & El 6s. ... Col Gas & El 5s sta Commonwth P 6s.. Con Coal Md 1st 58’ Consumers Pow 58 Cuba Cane cv 7s '30 Cuba Cane cv d §s. Cuban-Am Sug 8s. Dery (DG) Ts..... Det Edison ref és. . Du Pontde N 7i:s. Dugquesne Light 63 Est Cuba Sug 7%s. Empire G&F Tias. . Fisk Rubber 8s. ... Gen Refractres 6s. Goodrich 6%s..... Goodyear 8s 1931.. Goodyear 8s 1941.. Hershey 65 1942... Humble O&R 5%s. Illinois Beli 1st 5s. Illinols Steel 4%s.. Int Mer Marine és. Inter Paper 5s'47. K CP &Lt bs A'S2. Kan G & El 65'62.. Kayser (J) 7s..... Kelly-Spring Liggett & Myrs Lorillard (P) 5s. .. - Magma Cop cv Ts.. Manatl Sug sf T%s Marland Ofl 8s°31. Mexican Petrol 8s. Midvale Steel 5: Montana Powe; Morris&Co 1st 4145 Nat Tube 1st 5s... N Y Edsn 1st 633s. NYG EL H&P 4s NYG EL H&P s NY Tel 4%s. N ¥ Tel6s’41 N-Y T»l 6349 Norta Am Ed 6s. North am Ed 6%5. Nor States Pow 5s. Nor States Pow 6s. Northwst B Tel 7s. Otis Steel 85. ...... Pacific Gas & El bs 17 PacT& T 1st5s. .. Pacific T & T 5 People's Gas 5s Phila Co 6%s'38 PhilaCoref 63 A Public Service 5s. "Pub Serv Elec 6s Punta Alegre T Robins & M 1st 7 Sharon St H 8s. Sinclair Oil 6%s. Sinclalr Oil 7s. Sin Crude Oil 534 South Bell Tel 5s So Por Rico Sug 18 Southwest Bell bi Steel & Tube 7s. ‘Tenn Elec Pow Tide Wat Oil 6 Toledo Edn 1st T Unit Drug cv U S Rub 1st rf 5s. U SRubber 7%s. .. U S Smalter : USSteelst Utab Pow & Lt Va-CarChem Va-Car Ch 7%s w. ‘Warner Sug 7s ‘3! Warner Sug 78 '41. ‘Western Elec bs...126 ‘Western Union ‘% 3 ‘Westihghouse 7a.. 81 ‘Wickwire Spen 7. 4 Willys-Ov 6%s'33. 3 Wilson & Co 1st6s. 9 ‘Wilson & Co cvés. 36 WilsondC cv 1%s. 14 ‘Winchester A 7 '!m“ 921 1013 1015 101y 98X 98% 985 110% 110% 110% 1094 1083 109y 56 56 Closa, |- Direct to The Star Office. RAILROADS. Sales. High. Low. Closs. Ann Arbor 4s Atchison adj Atchison gen 4s. .. Atlantic CL 1st 4s. 15 63 83% SW div 3tes. 27 & O Toledo 4s... 39 Bklyn-Manhat 6s. 1002 79% Canad North 6%s.. 4 113 Canad North 7s 2 113 Ganad Pac deb 4s..112 81% Car Clinch & O 55, 180 89% Car Clinch & O 6s. 292 104% Cent of Ga 6s 8 1024 Central Pacific 4 27 88% Ches & O cv 4%s.. 260 95% Ches & Ogni%hs.. 6 89 Ches & Ohio cv 55, 104 96% Chi & Alton 3s. 8 60 Chi & Alton 3%s 2 35% Chi B&Q gn 45 '58. 24 80% Chi B&Q 1st rf Gs.. 10 99% CB& Q-Illdiv 4 0% Chi & E 11l gn s Al T4 Chi Great West 45.190 54 CM & Puget Sd 4s. 16 55% Chi M & St P 45 '25.101 79% Chi M&St P 4s'34.. 28 72% CM&StPabds... 67 b3 Chi M&St Pev 4128 52 60% CM&StPgnizs 40 81 Chi M&StPrf 4 54 ChiM & St P ev 58 ChiM & St P 6s. 99% Chi & N'W 6%4s. 1124 Chi Rys bs... 1% ChiRI1&Pgn 81 ChiRI&Prf4s 825% Chi T H & SE bs. 81% Chi Un Sta 63%s.... 4 117 Chi & W Ind cn 4s. 77 Chi & W Ind 7% 103 CCC& StLrf6sA. 36 103% Cleve Term 5s. . 14 99% Cleve Term 6:s 105% Cuba R R bs. . 83 CubaRR T%s. 102 Del & Hd 1st rf 4 89 Del & Hudson 5 1014 Den & Rio G cn 43, 26 7% D & Rio G imp 5s..152 89 D & R GAst rf bs 41% Erie 1st con 4s. irie gen 4s Erle conv 4s Erie conv 4s B. Erie conv 4s D. Erie & Jersey 6s... 4 Gr Trunk sf db 6s. 11 Grand Trunk 7s. . 2 Gr North gen 5123, 27 GrNorthgen7s... 45 Hud & Man ref 6s.. 31 Hud & Man aj 6s.. 20 I}l Central ref 4s.. 12 Il Central 6%s.... 11 Int Rap Tran 5s... 13 Int Rap Tr 5s stpd. 46 Int Rap Tran 6s. .. Int Rap Tran 7s... Int & G Nor 1st 6s. 86 52 64 111 Towa Cent st Gs Kan City FtS 4s Kansas City S 3s Kansas City S 58 Kan City Term 4 Lake Shore 4s '28., 47 Lake Shore 4s°'31.. 3 Lehigh Valley 6s.. 5 Louis & N 55 B 14 Louis & Nash533s. 9 ManhatRycnds.. 2 Mil EIRy & L5s... 29 M StP & SSM cn 45. 46 M StP & SSM 6%s. 3 MK & T1stds 13 MK&T4sB .4 MK & Tadj5s....157 MK&TprinbsA. 18 MK&T6sC...... 8 Mo Pacific gn 4s...253 Mo Pacific 6s...... 63 Montrl Tm 1st s, 1 OTex & Minds. 30 N Y Cent gen 3125, 13 ¥ Centcnds'98. 2 Y Centribs....278 N Y Cent deb 6s... 167 NY Cen LS c13%s. 10 NYC&StLdebds 2 NYC&StL6sA.. New Haven d 4s ‘57 New Haven c d 6: New Haven 7s. New Haven 7s fr. . N Y Ont& Wref s New York Ry rf 4s NY Ry rf dsctfs.. NYRysadjbsct.. N Y State Ry 414s. 13 NY W & Bos 414s. 54 Norfolk & W cv 65.108 Northern Pac3s... 5 Northern Pac4s... 8 Northern Pac 5s D. 39 Nortarn Pacri6s. 36 Ore & Calif Ist 5s.. 1 Ore Short Lref 4s. 67 Ore Sht Lcn 55°46. 7 Ore-Wash Istrt 4s 1 Pennsyl con 41zs.. 12 Pennsyl gen 412s.. 46 Pennsyl gen 5s.... 28 Pennsyl 6%s S16 Pennsyl gold 7s... 4 Peoria & Eincs.. 5 Pere Mrq 1st 45 '56. 3 Pere Marq Ist 5s.. 39 PCC&StLGsA.. 10 4 Reading gen 4s Reading gn 4%s 3 RioG West 1st 4s. 5 Rio G Westcl 4s... 15 RIArk&L4l4s.. 78 St L IM&S 4s°'29...114 St L IM&S R&G 4s. 54 StL&SFplisA.. 42 StL&SFprinbs. 26 StL&SF5%sD.. 11 StL&SFadjés.. 38 StL & SF inc 6s...125 StL&SFplésC.. 3 StLSWistds.... 13 St LS W con 4s '32. 20 StP & KCShL 413s. xss St P Un Dep 53%s.. San A & Arn P . 3 Seab'd AL 4ssta.. 14 Seabd A Liref 4s.. 30 Seab'd A Ladj 5s.. 52 Seab'd A L con 6s..171 Sou Pacific4s'23.. 6 Sou Pacific clt 4s. 10 Sou Pacificref 4s.. 13 Southern Ry gn 4s.164 Southern Ry 1st 58102 Southern Ry 6s ct. 97 Southern Ry 6%s.. 90 Sou Ry Mobile 4s.. 1 Third Ave ref 4s 5 ‘Third Ave adj bs.. 21 TolStL& W4s... 13 Union Pac 1st 4: 58 Union Pac 1strf 4s 26 Union Paccvds... 7 Union Paclstrfss 3 Virginia Ry 1st 5s. 33 VaRy&Plstbs.. 8 Wabash 1st § 17 v 20 82 . 10 30 23 1 u 10 67 834 92% 88 98% 104% 7% 92 100% 94% 634 Western Pacific 5s. 21 89% West Shore 1st4s. 5 82 Wisconsin Cent 4s. 1 81% TOTAL SALES (Par Value): 62% 83 89%, 91% 9% 85% 89% 85% 102 84% 99% 69 8% 13 13 80% 98% 103% 101% 8Th 95 89 60 9% 914 83% 1% 86% 9314 6% 65% 102 80% 844% 9 9954 8 684 63% &9 797 864 ¥5 89 T4% 100 101% 107 82 56% 45% 83% 92 87 984 104% 9T 1% 100 94% 63 88% 82 814% 62% 83 89% 92 9% 86% 90% 86 102% 85 9% 69% 79 113 13 1% 98% 108% 102% 88 95% £9 6% 59% 35% 90% 99% 89% 4% 54% F5% 79% 2% 53% 60% 81 b4 b7% 994 112% 7% 81 82% 81 80 L6% £33 89 5% 100 102% 2107% 82 67 45% 83% 92% 87% 9814 104% 7% 1% 100% 4% €3 89 82 81% 11a.m.. 4068000 12 noon 9811000 1 p.m..14 523000 —_— DIVIDENDS. Pd. Rate. al Pay- nce Q1%% July 1 25e Aug. 15 2% July 10 2% July 10 2 p.m.. 18 463000 RATES ON BAR SILVER. LONDON, June 13—Ear silver, 34%d per ounce. Money, 1% per cent Discount rates: Short bills, 2 15-16a3 —-_lt. Three months bills, 2 -15-16 mnun-mm o, s1m a3 #5%; Mexican trend of prices was reactionary |ested in deals affecting large tracts| “| closing prices for the most active stocks FINANCIAL TO HOLD ADVANCE Favorable Weather Reports Cause Selling—Declines Only Moderate. By the Associated Press. NEW YORK. June 13 —Reac followed yesterday's advance in cotton market in the early trading today. The urgent demand from July shorts seemed to have been supplied | and there was renewed local and southern selling of new crop months, promoted by rcports of continued favorable weather in the south. The opening was steady at declines of 10a18 points, July soon selling down to 2 and October to 25.85, or 25a29 points net lower. A renewal of “covering by near month shorts checked the decline around these fig- ures and caused rallies of six or seven points, but the buying was not active and the market was unsettled. Owing to the Whitsuntide holiday there were no cables from Liverpool. Cotton futures closed barely steady. open(ng—-Juu "NEW ORLEANS, June 13 ton market opened quiet d somewhat trades showing loss: from yesterday's closing levels. Over- night news and private advices indi- cated continued fair weather in the belt, and as Liverpuol was closed the oon traded down to 28.56, October to points under the previous close. Trade news and foreign advices were considered better, and although crop news from Texas and the west was favorable, advices from Alabama and Georgia were not so good. Cetton futures closed steads. net unchanged to 14 points down. Low JON oo 2 October |1 December 5 91 : July. 26.64; 24.93: January. 70 STOCKS QUOTED EX-DIVIDEND TODAY Lits Extra Large Because June 15 Falls on Sunday—Other Timely Wall Street Briefs. October. 249 bi De- March By the Aswociated Press. More than seventy stocks were quoted ex-dividend on the New York Stock hange today, the'list being unusually large, as June 15 falls on a Sunday. Among them were Ameri- can Can preferred, American Locomo- tive preferred and common, American Woolen preferred and _ common, | American Beet Sugar preferred, Mid- | land States Steel, Gulf Stat Steel, Great Western Sugar, Adams Express, | National Lead, Pere Marquette und‘ St L is and Southwestern. Some of the largest steel companies in the north were said to be inter- of iron and coal lands in the Gadsden | district of Alabama involving from 50,000 to 400,000 acres, understood to| - be_under option. . Stocks of slab zine increased tons in May, the American Zinc In- | stitute reports, the total at the end of the month being 43,364 tons. An increase of 704 tons had been report- ed in April after a decline of 5,118 tons in Ma: Chafter rates for tank steamships in the Atlantic coast oil trade ha declined sharply in the last two weeks, 25 cents a barrel now being quoted for shipments of crude from United States gulf ports to points north of Hatteras. Two Shipping Board tank- ers recently bought by Cities Service Company were said to have been chartered to move cargoes from the gulf to New York and Philadelphia at 23 cents a barrel. The Atlantic Refining Company owns 325,000 of the 925,000 shares of common 'stock of the Superior Oil Corporation, and the Old Dominion 0il Company 150,000 shares, leaving a balance of 453,000 shares in the hands of approximately 4,000 in- vestors. an individual average of about 100 shares. 86 N EXCHANGE. (Quotations furn.shed by W. B. Hibbe & Co.) Nominal “Selling checks £01d value. today. 4.8065 et 30 trillion 04 Zurich, Athens, Copcnbagen: Christinnia. Stockholm, By the Associated Press. NEW YORK, June 13.—Foreign ex- changes irregular. Quotations (in United States dollars): Great Britain, demand, 4.31%; cables, 4.31%; sixty day bill France, di 26. _Ttaly, d .0434%; cables, .0435%. Be demand. .0454; ‘cables, .0455. Germany, ~demand ' (per trillion). 23%: Holland, .3734: Norway, .1350 weden, .2653;_ Denmark, = .1684: Switzerland, .1765; Spain, .1347: ireece, .0176; Poland, .00000012; Crechoslovakix, .0292; ' Jugoslav .0119; Austria, .000014 Rumania, 00431 : Argentina, .3275; Braazil, 1080; Tokia, .04%; Montreal, .95 5-16 BALDWIN’S ORDERS HEAVY. NEW YORK, June 13.—Unfilled otders of the Baldwin Locomotive ‘Works still held around $10,500,000, ac- cording to reports from Philadelphia, although gradually increased operations now exceed 40 per cent capacity. It is expected by July 1 the rate will have reached 50 per cent owing to steady expansion and growing ship- ments. EXCHANGE TO CLOSE. NEW_ YORK, June 13.—The New York Cotton Exchange today voted to close on Saturday, July 5 BOSTON STOCK MARKET. BOSTON, June 13.—Following list of today's highest, is a lowest and dealt in here: Am Tel & Tel Hizh. | of indebtedne. | the | were | amounts stock excaance | |COTTON PRICES FAIL |REAL ESTATE FIRM’S EARNINGS, $148,500 Mortgage and Guaranty Company . Stockholders Hear Annual Report—Elect Officers. MORE BANK DIVIDENDS Treasury Loan Uversubscribed by Big Sum—Stocks Quiet. BY CHAS. P. SHAEFFER. Total resources of the Real Estate Mortgage and Guaranty Corporation as of May 31, 1924, amounted to $1,- 508,853.89, with discounts, surplus and earnings amounting to $148,500 » stockholders were told at their an- nual meeting this morning. At the last monthly meeting of the board, held recently, the second semi- annual dividend was declared on the preferred stock at the rate of 8 per cent per annum, and a dividend of * Per cent was declared on the common issue at par The following directors named fo day's were re- vear, Brueninger, Charles A Dulin, Frank Ernst, Hay- Lansburgh. el Miller, Will Neuhauser. Hor Somervi Stickle, Michael 1d Woodward the ensuing meeting: L. I, Henry L. Breuninger, Carry, Fred Drew, T. (. H. Edmonds, den Johnson drew "Lom: Muehleisen, at t R Thom:; W. F. Weller and Don mmediately fterward directors met and organized for the year as follows: 1. L. Breuninger, presiden Somery. d T hauser, vice presi treasurer; W. F. & and Donaldson, Johi counsel Treasury Subscription $600,000,000. More than $600.000.000 was total umount of subscription to t Treusury's latest offering, «los June 11, of 2% per cent certi for six mont June 15 This was announced Treasury, with t that some $135.000.00 scriptions for which Treasurs ates maturing June 16, 1924, Treasury notes maturing June 1324, were tendered in payment of these were alloted in full Allotments on other subscriptions a Treasury statement said, were made, as follows Cash subscriptions in amounts nct exceeding $10.000 for any one sui- scriber were allotted 80 per cent cash sub s in amounts ov 510,000, not exceeding _$30,00 allotted 10 per cent, but less than $8,000 on any one subscr tion, and ' cash subscriptions in over £50,000, but nmot ex ceeding $100,000, were allotted 20 por cent, but not less than $20.000 on any one subscription. No allotment were made on cash subscraptions in amounts exceeding £100,000 for ar one subscriber. Local Banks Vote Dividends. The board of directors of the Ans costia Bank vesterday declarcd an extra dividend of 2 per cent in addi tion to their regular semi-annual dis bursement of 4 per cent, both pa:- lable on July 2 to stockholders | record_June The Unit declared its dend of last ates Savings Bank has regular quarterly divi- per cent, ¢ and_Mechanie s decla on a definit cent, but ha Qividend basis of § per paid an extra of § prr cent for the twenty-five years making total disbursements of 12 per cent on the capital stock. Hickman Home From Trip. Thomas P. Hickman, vice presiden of the Franklin National Bank, has returned to Washington after vaca tioning at Fort Pierce and Miam Fla.. since the first of the month. Mr. Hickman brings back with hi marvelous stories of his prowess a fisherman. Railway Seeks Bond Issue. The Virginian Railway tod sought authority from the Interstate Commerce Commission to pledge §4 ®0.000 of 5 per cent fifty-vear gold bonds and $1.500,000 of 5 per cent fifty-vear gold bonds of the Virginiar and Western Railway to secure pay ment_to the National City Bank New York for advances of $400.000 Waxhington Stocks Quict. The Washington Stock E was more_or less dormant this morr ing. Raflway preferred was stror in small volume. at 73%, with Capit Traction unchanged at Fort shares of National Mort and In- vestment preferred sold at Sl Capital Traction $2,000 at 957 and §300 Washington Gas 6s, at 1011 were the only bond transactions Mr. Deyber's Problems Difficul One of the first and most important problems that Victor B. Deyber newly elected president of the Dis- trict ‘of Columbia Bankers' Association. will be called upon to administer is the question of charges for service rendered customers by local banks. _That Washington banking institu- tions are not levying sufficient charge was vividly shown by the re port of W. J. Waller, submitted at the annual convention last week who, by statistical data gathered from a majority of the members proved conclusively that deposits, in their entirety, left much to be d sired. The number of accounts, called ::unprofitable.” which result an actual loss to the institution ca rying them. was staggering and was shown (0 represent only a neg- ligible percentage of the banks' re- sources. In a majority of counts are carried absolutely fres of charge, the idea being assumed by District banks that the question of a service charge, uniform at 50 cents a month, is optional with the insti- tution. Special Committee Likely. This is the question ‘t( confronts Mr. Deyber. In arriving Wt an agree- able solution he is called upon to either devise some means of institut- ing a uniform service charge, ade- quate to cover this phase of banks' service to customers, and which will be complied with, or, more preferabl to devise some method whereby cus- tomers will be impressed with tl importance and benefit to themselv of building up and maintaining a suitable balance. In submitting the report W. J Waller made the suggestion that a committee of eight be appointed. two each from the various sections of the local association. namely, national bank, savings bank, state bank and trust company, to Ko into the matter thoroughly and make their recom- mendations. This undoubtedly will be done at the first meeting of the cha es these ac- Am Wool Boston & Maine. Boston Klevated. Calumet & Arisona & Heela Isiand Creek. Island Creek ‘pid Libby McNell & Massachusetts North Rutte 0ld_Colnny . - 20% 180 36 n!& United Froit United Shoe . ed Shoe Mach pfd . U S Smeit .. association, tentatively scheduled for the near future. Wealthy Man Dies Dancing. | LOS ANGELES, June 13—S. J Guggenheimer, reputed to be a ‘wealthy Philadelphia business man was stricken with a heart attack while dancing last night and died before medical aid could be sum- moned. Distinction With Difference. From the Louisville Courier-Journal. The distinction between facts and figures is strikingly shown between the French names on the menu card and the prices beside them. T His Substitute. From the Edinburgh Scotaman. K Lady (in wrong department of large store)—Have you -Dickens’ “Cricket on the Hearth?" Salesman—No, madam; but [ can 2'\:' you a very good table tennis