Evening Star Newspaper, June 21, 1924, Page 23

ANCIAL -.OIL SHARES FEATURE SATURDAY MARKET Yaexpected Strength Causes Much Short Covering During Two- Hour Session. GENERAL LIST ADVANCES Closing Is Firm—Day's Sales Ap- proximate 350,000 Shares. By the Associated Press, W YORK. June 21.—An unex- pected display of strength by the ©oil shares. which promoted consid- erable short covering in those issues, was the feature of today's brief ses- sion of the stock market. The gen- eral list continued its upward course, but the gains were :maller than heretofore and buying was of a more elective character. American Water Works issues. which recently have enjoved a sen- sational advance, fell back on profit- taking. but other public utilities con- tinued to show marked strength. Low- priced rails moved to high ground under the leadership of “Katy" pre- ferred, which sold around 40. The' closing was firm. Sales ap- proximated 350,000 shares. SPECIAL STOCES BOUGHT. TUsual Leaders Neglected in Strong Week End Market. BY STUART P. WEST, Special Dispateh to The Star. NEW YORK, June 2 The market continued strong during the two- hour session today, but it was a spe- cialty market. In other words, the | usual leaders did little, attention be- ing devoted to certain selected stocks | for special reasons CUnited States Industrial Alcohol | was bid up sharply depsite the fact| that nothing was done at the meet- ing about dividends. Buying came inte Beechnut Packing on reports of faverable earnings and dividend pros- pects. The special buying movement | apparent in Park & Tilford stock for the last few days was maintained. Utah Secruities Thrown Over. Profit taking came into Utah Se- curities today following the publi tion of the 1923 report, which showed & falling off in surplus, as compared | with thne previous year. The com- bined surpius of the corporation and | fts subsidiaries was $735,764, which ! after charges, depreciationgand pre- | forred dividends equaled $2.38 share 1 shares of capiial stock e surplus of $1.164,471. i ciuding profit from the sale of secu ties and from redemption of debt by ary, was equal to $3.78 a share the surplus, excluding the | profit from the sale of securitiss, that | ar amounted to only $108,430, or 35 Industrinl Aleohol Acrows 70, The move in United States Industrial | vhich was checked during the ' appeared to have got under today. The % spurted | nd attracted considerabe | basis Which have he'd up ex- | ceptionally we!l in spite of ree ons in Various industries with which Industrial Alconol ordinarily does a large business. NEW YORK. June il developed unexpected strength Bonds buoyant: French issues lead | aavance in foreign list Foreign exchanges steady; advance in quiet trading Cotton lower: hearish Crop reports. sugar—Holiday Coffee—Holiday CHICAGO, June 21.—Wheat better southwest crop repoits. Corn asy: improved weather. Cattle de- Clined: slow trade. Hogs irregular, mostly lower. francs weak: = - ! Wells-Fargo Company Proposes Sweeping Financial Changes. NEW YORK, June 21.—D. G. Mel- lor, president of Wells-Fargo Com-| pany, announced today that a special meeting of stockholders had been called for August 7 to vote on a pro- posed reduction in capital stock from $12.000.000 to $240,000 by changing the par value from $50 to $1 a share and to authorize the directors to make further distribution of capital assets. The move is a further step in liquidation, and if authorized the directors intend to distribute two- fifths of one share of American Rail- way Express Company stock, $100 par value, for each share of W_vll:h ‘argo stock, $50 par value. and $5 in cash. On February 6, 1923, a liquidation aividend of $50.was declared, reduc- fng the par value from $100 to $50. Since then annual dividends of $2.50 have been paid. L2 s WOOL TRADING DULL. BOSTON, June 21 (Special).—The Summer street wool market wound up a dull and_inactive week today, with fine staple territory quotable at about 1.25 on a clean Boston ba- 2ie.* While domestic auarterbloods have dropped as low as 85. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY DETROIT, June 21.—The recent dividend on the Paige Detroit Motor Car Company stock revealed the fact that the actual earnings of the com- pany for the last five months and the estimated earnings for June are above $1,800,000, or about 30 per cent, on the common stock capitalization of the company. BOSTON, June 21.—There have been 449,902 passenger automobiles registered in Massachusetts to date fa year, compared with 336882 in 1923, 'an increase of 24 per cent. SEATTLE, June 21.—Sales and <hipments from the Pacific northwest Jumber centers in. the last week indi- cated reductions in both. Shipments fell off 15 per cent as compared with the previous week, while production was limited to about the amount. ATLANTA, June 21.—Georgia's peach yield will be the heaviest in Ristory and the fruit will be larger, according to experts who have just inspected the peach belt. SUFFOLK, Va. June 2L—In_the Jast twelve months the twenty firms in this peanut center of Virginia and North Carolina which deal exclusive- 1y with peanuts have transacted 3$25.- 000,000 worth of business. This is an inctease of 20 per cent over the businesseof the preceding year. HOUSTON, June 21.—The daily av- oil production of the gulf coast th Texas fields showed an increase of 965 barrels to 115,720. Eighteen producers were brought in in south Texas during the week. S el Ask Your Banker. much real value stands back B OThe stock you are asked to buy? same Adams Exp (6) Adv. Rumley... Air Reduct (4) Ajax Rubber . Allied Chem (4). . Allis-Chalm (4).. Am Bosch Am Can 1e). mC& Fopf (7). Am Chteterr < Am Express (6) . Am & F P 25%(7) Am Tce (7;. Am Locomo (6) . Am Radiator (4) Am Sm & Re (5). Am St Fys (3) AmT& Tei (9).. AmTel & Tel rt; Am Tobac (12) Am Tob B (12).. Am Water Wks Am W W pf (6). Am W W st (7). Am Woolen (7).. Anaconda. ... . As DG 2d pf (7). Ass0 00} (1%)... AtT&SFe (6).. Atl Coast L (18). AtGuIf& WI... AtGult & W Ipt Adlan Ref (4) Auto Knitter. Bald Loco (7). Bal & Ohlo (5) . Barnsdall A {BarnsdaliB..... | B'eh Nut (2.40) .. | Beth Steel (5) . Beth Stlpf (7). | Beth Sti pf (8)... | Br'k Edison (8).. Br'k-Man Tran. | Br Man T pf (6). | BrklynUnG (4) | Butte C & Zinc. . Butte&Superior Caddo Cen O & R. Cal Pet (1%). Can Pacific (10). Cent Lea Copf... | Cerde PasC (4) + Chand Mot (§) .. | Ches & Ohio (4) Chic & East Ill. Ch & East I pt. Chic Gt West pf. . Ch Mil & St Paul. Ch Mil & St. Ppf. | Chi & Nwn (4). | ChicR1& Pac. Chi Yellow C (4] | Chile Cop (2%) Chino Copper. | Coca-Cole (7)... Colo Fue! & Iron. Col So 1st (4). Col G & I <2 60) Col Carbon (4). Com Soiv B. . .. Congoleum (3). Consol Gas (5). Cont Can (4). Cont Ins (6) . | Cont Motors (20c, | Corn Products. _ | Cosden Co. . Crucibie Stl (4) Cub Am Sug (3).. Cub Cane Su pf. Cuyamel Fr (4). | Dan! Boone M (3) | Davidson Chem Del L& W (6). Dot £4 Co (8). DuP deNdb (6) Eaton Ax (2.60). Bk Horn Cox .. k Horn Coal pf. Ere....... Erie 18t pf. Erie 2d pf. . Fairbanks-Morse. Famous Pl (8)... F'd M & Sof (7). | Fifth Av B (61c). Fisk Rubber. Gen Asphalt ' | Gen Cigar (s5) General Elec (8). Gen I spe (60c). Gen Mot (1.20).. | Gen Mot db (6). Gen Mot db (7). Gen Petm (2). Gimbel Bros Goodrich. . Goodyear pf Gt North pt (5) Gr Nor Ore (3). Gulf Mo & Nor Gu Mo & N pf (5) Hartman Co (4).. Hayes 'l (3 Homestake( 7) Houston Oll. . .. Hud Mot C (3). Hupp Mot C (1).. | Minos Cent (7). Indian Motoreyc . Interb Rap Tr. Int Bus Ma (8). Int Cement (49. 1nt Com Fing (2). Intern & Gt Nor. Int Mer Matine. Int Mer Mar pf. Internat Nickel. Internat Paper. INtT&T (6).... Iron Products (6) Invincible Oil. ... Kan City South. . Kayser Jul & Co.. Kelly Spr Tire. . Kelly Springfd pf.. | Kenne Cop (3)... Keystone T & R. Kinney G R Co. Laclede Gas (7). Leh Val (3%). Lig & Myrs (3 | Lig & Myrs B (3) Lorillard pf (7). | Louis & N'sh (8). McCror C pf (7). x Trucks (8) . Magma Copper. Mallinson & Co. .. Man El modgtd 4. Maracaibo Oil. .. Mariand Oil. Marlin Rockwell. Mathieson Alkali Maxwell Mot A. Maxwell Mot B. May Dpt St (5)... Mex Seaboard(2). MexSeabd ctfs(2) Middle 8t Oll..... Mis Kan & Tex. MisK & Tex pf... Missourl Pacific. Missouri Pac pf. . Mont Power (4) . Montgom Ward Mother Lo 37%c. Nash Mot (18%). at Biscuit (3) at Lead (8). Nat Supply (3).. Nev Cons Cop. ... NewO,T&M 123% NYAirBr(4)... N Y Canners (2) . N ¥ Central (7) INYC&BtL (8). Ny C&StL pf (6) . NY NH & Hart... N Y Ont & West. . Niagara Falls P Norf & W (18). Norf & W pf (4 North An.er (2) North Pac (6).. Otis Elev (n) (4).. Otis Elev pf (6) . . Otis Stel. 5 Otis Steel pf. Owens Bot (3). PacG & E (3) Pacific Oll (2) Packard (1.20) Pan Amer (4) Pan Amer B (¢ k & Tilford. Par & Bing (2) Penn Railrd (3). Penn Seab Steel.. Pere Mar pf (5).. wll Co (4)..... ils&R&I. Phillips Pet (2) Plerce-Arrow Pierce-Arrow pf. . Are you sure that the nice, honest- tranger is telling you the ootne® Sur banker 6 100k Into Wwhat he claims. |FEE: Open. High. 7 6% k{) 64 2% 4% 28 "108% 123% 17 w5 5% 92 3% 94 104% 54 145% 59% 13 99% 42 25 104% 88 86 22% 18% 27% 119% 1% 26% 65% 64 109 kil 50 A% 93% 4% 10% 52 50% 28 14% 4% 1% 65% 48% 49% Low. 73 6% 9 6 2% 48% 26 108% 123% 17 94 957% 1% 34 102 64% 364 9% 6% 9 6% 73 48% 26 109 12315 104 »8 12% B50% 13 45% 60% 27 17% 67% 3608 24% 424 68 23 12% 106% 164 23 964 106% 16% 23% 97% 116% v4 103 84k 267s 2% B6% 274 304 12 45% 50 13% 89 20% 20 2 13% 38 16% 47 65 25% 6% 104% 64 145% 59% 13 99% 42 25 104% 88 863 22% 18% 27% 119 % 26% 66% 64 109 % 50 a% 93% o 10% b1% 50 28 14% “% 1 653 i © 83% 9% 28% 1% 25% Close. 9% 6% 9 6 72% 48% 26 1088 123% 17 94 1234 104 88 12% 114 25 9% 36%% 25 26% 5% 45% 11 106% 16% 234 964 43% 22% 20% 8% 344 15 46% 757 48% 12% 20 24% 10% 38 89% 1% 59 95% 4“ 547 547 116% v4 103 84% | Wilson & Co. THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Low. Close. 184% 134 13% 13 18% 13k 13% 13% % TR 4T 4T 5l% 52% 61% bi% 484 484 4T 4T 80% 0% 8O0% EO0% 4 26% 27 264 27 PubSer NJ(4).. B2% B2 524 524 Public Serv rts 12 124 12% 124 Pullman Co (8).. 124% 124% 124% 124% Punta Al Su (5).. 60% 60% G50% B50% PureOil (1%)... 20% 21K 0% 21 Ray Cons Cop.... 10 104 10% 10% Reding (4)..... B5% 5B% 65w B55% Reading rts. 22% 23 22% 23 Read 2d pf (2)... 887 83% 83% Replogle Steel. ™% ™ TH Rep Ir & Steel... 454 5% 46k Rey TobB (3)... 70% 704 70% Roy D'tch (3.46).. 47 a7 a1 Royal Dutch rts.. 6 6 L] St Josepn Ld (2). t L Sun Fran. .. St L-San Frpf... St L Southwest StLS'thpf (5).. Savage Arms. ... Schulte (8) .. 116 eaboard AirL.. 1% Seab'd Air Lpf.. 2 Scars Roe & Co... 87 Seneca Copper. .. Yi Shell Un Ol (L).. 1T% Simmons Co (1). 23% Simms Pet. .. 13% Sinc Con Oil (2).. 18w Skelly Oil. 19% So P Rico Su (6) 66 South Pac (6).... 94 Southern Ry (5). 60 South Ry pf (5).. 73% Std Gas & 131 (3). 364 St Ol Cal (2) 57% StOUNJ(1).... 84% Sta Plate Gi(75¢) 81 Stew’'t War (10).. 67 Studebaker (4).. 83% Submarine Boat.. 9 Superior Ofl..... 6% Sweets Coof Am. 24 TennC&Ch..... 6% Texas Co (3). % Tex Gulf (16%4). Texas & Pacific. . Tex & Pac C&O. Tide Wat Ol (4) Tob Prod (6). . Tob Prod A (7)... Transcont Oil . % Pacific (10).. 134% Un T Carpf (7).. 1104 td Alloy Steel... 22 Utd Cigar Stores. 47% UDIstpf (3%). 48% Utd Fruit (10)... 194 Utd Ry Invest. 11% Utd Ry Invest pf. 40% Universal Pipe... 204 Untversal P pf(7). 69 U S Cast lron F.. 941 USCIP DL (D... 924 U S Distributing. 24% U SInd Alcohol. . 69% U S Ind Al pf (7). 101% U S Rubber.. . 4% USR 1st it () SSm'tpf (3%) 39% U S Steel (16) 97 'S Steel pf (7). 121% Utah Securities.. 3% Vanadium Corp.. 21% Va-Caro Chem... 1% Va Ry & Power.. 66 Wabash. ... y. 15 Wabash pf A.... 443 Web & Heilb (1) 164 Wells Far (215) . 39% West Pen (4) . 69% West Penn pf (7). 91% West Eipf (7)... 115 West Maryiand.. 9% ‘Western Pacifi- West Pac pf (€). West E& M (4).. Wheel & L, Erie . Wheel & L Er pf. Wh Eag Oil (2).. Wickwire Sp Sl . Pitts Ut pf 1. Pitts Ut ctts Pitts & West Va. . Postum Cer (4).. Press 8tI C (4) Press SCpt (7). Prod & Retiners. . 26 23% 4% 4l 6314 54% 25% 23% A% 41 63% (N 118 11% 24% 87 hed 17% 23% 18% 25% 28% 47% 4 68% 54% 116 11% 20 87 ) 17% 24 b 31 9 122 62% 0% 16% 40 63 9% 115 9% 24 2% 60% 9 19% 24 1% 5% % 66% T 663 100% 25% Willys-Overlund . Willys-Over of .. Woolworth o (3). Worthington Pum traris extra Divigena _rates are the annual 665 100% 101% 25% 25% preferred stock. iven In the sbove tabie payments” based on the balf-vearly declarations. dividends are mot included. = HUGE QUANTITIES OF PINEAPPLES ROT Strike in Cuba Causes Great Reduc- tion in Shipments to This Country. Special Dispateh to The Star. BALTIMORE, June 21.—Thousands of crates of pineapples are being aliowed to rot in Cuba because of the strike, ac- cording to officials of the Munson steam- ship line. Pineapple exports from Cuba through this port, which were expected to ap- proximate twenty cargoes, ended with the seventh cargo, which was discharged here this week by the steamer Walter D. Munson. The strike in Cuba made it impossible to ship the crop, much of which went to waste. The seven cargoes totaled 172,613 crates of the fruit. e FRANCE GAINS IN TRADE. Exports Exceed Imports During Part of Present Year. NEW YORK, June 21.— France's foreign trade for the first four months of 1924 produced a favorable balance of 1,483,000,000 francs, with imports at 13, ,000,000 francs and exports at 14,999,000,000, the Bankers Trust Company of New York reports. Compared with the corresponding period last year. imports increased in value of 4,011,000,000 francs and ex- ports by 5,997,000,000. Exports of manufactured articles rose from 4,- 681,000,000 francs in_the first four months of 1923 to §,835,000,000 francs during the same period this year. U. . TREASURY CERTIFICATES (Quotations furnished by Redmond & Co.) ——Close.—— Bid. Ofter. 100% o 0118 100 13-16 1002932 . 1001516 101 132 101% 101 1932 . 101 101 23-32 101 101 23-32 102 5-16 . 102 716 101 916 ' 101 1116 i 108 102t 102% 108 Sias S March 926 September 15, 1926 March 15, 1927 December 15, 1 44s 4% 4%s SHORT-TERM, SECURITIES. tations furnished by Redmond & Co.) (Quotations furn! g Aluminum Co. of Amer, Ts 1925. Aluminum Co. of Amer. 75 1833, American Sugar 68 1937 ‘Anglo-American Ol 7 Associated Oil 6« 1935, of Canada S Central of Georgin 6s 1929. Central Leather 58 1925. Mil. & St. Paul 6x 1984, Chil. R. 1. & Pacific Si4s 1026, Columbia Gas & El. 1st 5s 1927 Du_Pont 7i%s 18310.... Federal Sugar Hef, s 1t Fisher Body Corp. 6s 1927. Fisher Body Corp 6s 1928. Goodyear T. & R. 8s 1831. Great, Northers ;l;,‘ngg‘ iidi o Gult rp. of Pa. 5%s 1928, Humble Oil 53s 1932 : b, S BS. M. oige Tasi. 1 M., St. P. & 8. 8. M. 6144 131 Morris & Co. 7% 1930. New York Central 6e 1 Oregon Bhort Line 43 1029. Penna, R. B. 78 1930, Pure Ol 5i4s 1925, Bwitt & Co, bs 1983 Tidewater Oil 8%; [ v ;'sfi-u Union digs 1 ghouse E. 5 Wheeliog Steel 6a 1036, Kennecott Average crop losses from 1909 to 1919 were §2,620,000,000 a year. FOREIGN OBLIGATIONS AGAIN LEAD BONDS Display Impressive Strength Due to Better Political and Eco- nomic Outlook. UTILITY ISSUES STRONG Short Saturday Session Proves Lively Affair. BY GEORGE T. Special Dispatch to The Star. NEW YORK, June 21.-—-FoYeign bonds and speculative ralls were the features of the trading at the close of the week. Strength In the foreign group attracted more attention than anything else, but there were several sharp advances in the low-priced rails. Notable among the latter were I G. N. adjustments, which ran up & point and a half almost at the open- ing, reflecting sale of the road to the New Orleans, Texas and Mexico. To- day's price was practically the high of the year. Under the sale agree- ment, the purchasing road guarantees the holders of the adjustment bonds not less than 4 per cent up to and In- cluding the vear 1927 in return for an option of purchasing their hold- ings antil January 1, 1928, at 85. Another speculative railroad bond in favor today was Peoria and Eastern incomes, up a point. In the forcign group today the fea- ture was the advance in the Czecho- slovak 8s. These bonds had “een held down in market price during the pla ing of the new series B issue of 195 From the action of the market today, it was apparent that the new bonds had been cleaned up. French issues were a little off from yesterday's high, but held around last night's el Department of the Seine 7s sold at 89, the only French issue to show a loss on the week. Liberties React Slightly. The largest gains in the foreign group of the week are, four and a half points in Argentine 5s. three and a half points in Brazil 7s, three points in Norway 6s and more than two points in Denmark 6s and Rio de Ja- neiro 8s of 1946, Liberties have suffered a slight re- action on the week. Evidently the pace of the advance was too fast to be sustained. The Treasury 41;s have been relatively the strongest. In the high-grade rails and indus- trials prices have held firm, with the largest gains in the inactive issues. While the average price of listed bonds touched the high of the year this month, this average is still two points _or more below the high of 1922, The high point for the foreign group was reached yesterday, but here this point was still below the highs both of 1923 and 1 The strength of the market for new offerings was shown by the prompt sale at par of the $15,000,000 Chesa- peake and Ohio 5 per cent equipment trust certificates. Total new offerings of which the Federal Land Bank issue was the largest Foreign Issues Impresive. By the Amociated Press. v YORK, June 21—Foreign bonds again demonstrated impressive strength in today's early dealings. Under the leadership of French is- sues various European obligations forged ahead, due to improvement in the political and economic outloo South American liens also won in- creasing favor. Inquiry for domestic issues largely to public utilities and specu- lative rails. International Great Northern mortgages registered fur- ther recovery as sale of the road to the Gulf Coast Lines was completed Gains of a point or more were record- ed by Brooklyn Union ¢ of 1922, Peoria and Eastern income 4s and Third Avenue railway 5s. A $3.000,000 Detroit United Railway issue of five- year 6 per cent bonds was quickly subscribed. HUGHES, ran RETAIL TRADE PICKS UP. Special Dispatch to The Star. BALTIMORE, June The real summer weather of the last few da) has proved unusually stimulating to practically every line of retail bus ness in Baltimore. From the small confectionery to the large depart- ment store come reports that sales are increasing; business is improving. Piece goods, such as silks and wash goods, are said to be in unusual de- mand, while muslin underwear, men's furnishings, dresses, skirts and ready- to-wears are reported to be moving in_good volume. Many dealers are making a drive on selling bathing suits and other ar- ticles for outdoor sports. The long stretch of cold, wet weather set th season back several wecks. but hope is now felt that at least a large part of this lost business will be “made up.” FOREIGN EXCHANGE. NEW YORK, June 21.—Foreign exchanges steady. Quotations (in United States dollars): Great Britain, demand, .432%: cables, .433%. Sixty- Germany, demand (per trillion), .23%. mand, .0540%; cables, .0541%. Italy, demand, .0430%; cabies, .0431. Bel gium, demand, .04681%; cables, .0469 Germany, demand (per trillion). % Holland, demand, .3740. Norway, de- mand, .1352. Sweden. demand. .2653. Denmark, demand, .1688. Switzerland, demand, -1774. Spain. demand, .1343. Greece, demand, .0175. Poland, de- mand, .00000012. Czechoslovakia, de- mand, .02953%. Jugoslavia. demand, .0119. Austria, demand, -000014%. R mania, demand, .0044. 'Argentina, de- mand, .3275. Brazil, demand, .1090. Tokio, demand, .41%. Montreal, .98 17-32. _— e CHICAGO GRAIN MARKET, CHICAGO, June 21.—Assertions that foreigners were reselling tended to| turn wheat prices downward today after a. little advance which followed the opening. Favorable reports about conditions for a harvest in the south- West had more or less bearish influ- ence, and so, too, did reports on the outlook for spring wheat northwest. Aggressive buying was lacking. Meanwhile announcement of plans for a Dproposed combination of elevator interests failed to have any noticeable effect on values. The opening, which ranged from % decline to % ad- vance, with July 1.14% and September 1.163,31.16%, was followed by a rise to slightly above yesterday's finish, anad then by a moderate setback ali round. AT Better weather eased down the corn market. After opening at % Off to % up, July 86%a87%, prices underwent @ general sag. = Bats showed little change. Starting at the same as yesterday's finish to % lower, July 47%, the market held near to_initial figures. Lower quotations on the provision market. — Open. High. NERAT l.l"sh 1.15% 1161, 1.18% . 118% 1.19 873 ki 8% ATy 43% % hogs weakened Low. 88 6% gt 10.65 10.95 DAIRY PRODUCTS. BALTIMORE, June 21 (Special).- Live poultry, 30a35; spring chickens, nd, 35a4! horns, old hens, 18a BN ghorns, oid. 18a2; old Toosters. 1%, dutks, pound. 15a20; pigeons, pair, 40a50; spring ducks, 86a28. Egss_Loss off; native and nearby ts, dosen, 26%a26%; fi southern, 25%a25%. Butter—Creamery, good to fancy, pound, 38a43; nearby creamery, 43a45; 1adles, 30a32; rolls, 35a38; store pack: od, 38; dairy prints, 28a3l; process butter, 34a33, -28adl D. C., SATURDAY, JUNE 21, 1924 [ovvov o BONDS o o] Recelved by Private Wire Direct to The Star Office. (Bales are 1n §1,000.) UNITED STATES BONDS. {Fractions represent thirty-seconds. Example: 101-3 means 1013-32.) Sales. High. Tow. Close, Lib 3y 6 100-30 100-30 100=30 Lib Ixt-2d 4% 11 101 101 101 Lib 1at 43 80 102 10128 102 Lib2d 4%s... 118 1011 100-31 101-1 Lib3d 4%s... 805 102 101-30 101-31 Lib 4th 4%s.. 289 102-1 101-30 1021 US4%u1963. 44 104027 104-26 104-27 FOREIGN. Sales. High 897 944 102% 19 92 100% 105 104% 92 854 87% 98'% 100% 102% 102% 97% 106% 105% 44 92% 964 97 108% 98% 110% 88 95 9% 102 90 1% 99% 102%° 73 79 9714 90% 8% 85% 85% 1% 93% 9% 88 124 85 78 101% 108% 95% 95 98% 101 102 89% 85 85% 104% 96, 113% 60t 108% 103 89% 106 105% 1124 112% MISCELLANEOUS. Ajax Rubber a» 1 °80% Am Agr Chem T8 14 86% Am Cotton Oil 6s.. 2 90 Am SmIt&R 1st 5s. 27 94% Am SmIt&R 6s.... 31 1054 Am Sugref6s. ... 21 100% AmT& Tcltrds.. 29 96k AmT& Tl trbs.. 25 100% Am T & Tdeb5%s. 24 102 AmT&Tevés.... 115% Am Water Wks 5s. 90% Anaconda 1st 6s 26% Anaconda cv db 97 Armour & Co 414s. 864 Armour of Del 53 88% Bell Tel Pa 5s 4 100 Beth Steel pm 5s.. B9% Beth Steel rf 5. 96 Beth Steel 5 89 Beth Steel s { 964 Braden Copper 6s.. 1 1044 Brier H St 1st 5%s 961 Bklyn Ed gen bs. . 101% Bklyn Edison 109% Bush T Bldg 5s 95 Calif Pete 633s. 97% Can Gen El deb 6s. 104% Central Leather 53 99% Chile Copper 6s. .. 101% Col Gas & El s sta. 99% Commonwth P 6s.. 9314 Con Coal Md 1st 5s. £8% Consumers Pow s 91t Cuba Cane cv d 8s. Denver Gas 5s.. Det Edison ref 6s Duquesne Light 63 Est Cuba Sug b Empire G&F 7i4s. Fisk Rubber &: Gen Refractres 6s. Goodrich 6%s. . Goodyear 85 1931. Goodyear 8s 1941 Hershey 6s 1942 Humble OXR 53%s. Illinots Beil 1st bs. Int Mer Marine 6s. Inter Paper 65 '47. KCP&LtGs A'52. Kan G & El 6s 82 Kayser (J) 78 Kelly-Spring 83 Lackawa 8 58 '50. . Liggett & Myrs 5. Magma Cop cv Ts... Manati Sug sf 7%s Montana Power 5s Morris&Co 1st 4%s New Eng Tel 55 N Y Edsn 1st 6%s N ¥ Tel 68 N Y Tel 6849, Norta Am Ed 68 North Am =d 6% Nor Ohio T&L 6s. . Nor States Pow 5: Nor States Pow 6s. Northwst B Tel 7s. Otis Steel 7%s Otis Steel 8s Pacific Gas & Ei PacT & T 1st5s. . Pacific T & T 58 Phila Co 5%s'38... PhilaCoref 6sA.. Phil & Rdsg C&I 5s. Pierce-Arrow 8 Public Service 5 Pub Serv Elec 6 Punta Alegre Robins & M 1st 7s. - Sharon Stl H 8s. Sinclair Oil 6%s Sinclair Ofl 78 Sin Crude Oil 6s. Sin Pipe Line 63 South Bell Tel Southwest Bell 55. Steel & Tube 7. ... Tenn Elec Pow 6s. Unit Drug cv 8s... U S Rub st rf 5s.. U S Rubber 7%s. USSteelst Utab Pow & Lt Bs. Va-Car Chem 7 Va-Car Ch 1%s W Vertientes Sug 7s. ‘Warner Sug 7s '41. Western Elec 58 ‘Western Union 6% ‘Westinghouse 7 Wickwire Spen 7s Willys-Ov 6%s '33. Wilson & Co 1 Wilson & Co ¢ Winchester A 7% Youngstn S & T 65 BANK FINDS GERMANS NOW FRENCH CITIZENS Special Dispatch to The Star. NEW YORK, June 21.—During the year 1923 20,308 foreigners, among which were 484 Germans, assumed French citizenship through the vari- ous methods of naturalization, ac- cording to advices received by the Bankers' Trust Company from its French information service. The number includes 12,187, of whom 10,946 were assigned to ait- izenship by their parents, while 1,241 retain their right to make a decision on the matter during the vear fol- lowing their majority. Taken as a whole, naturalization of all categories showed an Increase durine 1923 of 2,867 as compared with 1922, Low. Ciose. 94 HI% 102% 102% 91% 92 100 100% 104% 106 104 104% o 92 85 85% 874 8% 98% 98% 100% 100% 102 1024 102% 102% 9% 97% 106% 106% 106% 106% 44 4 9215 92% 96 %6 96 97 108% 108% 98 98% 110% 110% 87% 88 94% 95 94% 102 88% 91% 98% 102 73 8% 97ie 0% 8% 85 85% 91% 93% 96% 98 1z 85 % 101% 108% 95% 5 98 101 102% 88% 84% 854 104% 96 113% 6044 108% 102% 89% Argentine Helgium 6s. .. Belgium 7%s. Belglum Holivia 8s Bordewux Brasil 7n Y (3 - SoBummarnoonl Chinese Gov Ry G Copenhagen 6% Cuba 5%a.... Czechoslovakia 8: Danish Munic 8s B. Denmark 6; Denmark 8s..... Dutch E16%s.... Dutch East I 68'47. Dutch East I 6s'62. ElSalvador 8s '48. Finland = f 6s 1945. Framerican 7%s. . French Govt T%s French Govt 8s. Holland-Amer 6s Ja 4s. . . panese 2d 4% Japanese 6%s. . . Jergens U M 65'47. Netherlands 6s. Norway 6s 1943. Norway 6s 1952. Norway 8s. Orient Dev deb 68 Paris-Ly’s-Med 6: Queensland 6s. ... Queensland 7s. ... Rio de Jan 85 1946. Rio de Jan 8s 1947 Rio Gr Do Sul Sao Paulo City 8s Sao Paulo State $: Selne Dept of 7s. .. Serbs Crotes Slo 8s Soissons 6 : Sweden 6s........ Swiss 53%s 1946. . Swiss Confed 8s. o - - @ - P T L T AT P TS O PR P =t Ud Kingm 5%s'29. Ud Kingm 5%s '37. Ud Steam Copen 68 Uruguay 8s. Zurich 83 80% #614 90 93% 105% 100 96% 100% 1014 115% 90 9614 96% » R T T S L P L T L N TS o= - 111% 105% 107% 943 984 904% 92% 103 108k 874 Bk 934 99% 3% 93% 1024 29 9% 93% 101% 108 78 100% 86% 92 100% 84% 9% 95% 104 97% 114 3 0% 1014 104% 93% 624 31 9% 101 984 111% 108% 63% 9% 84 46 101 6 95% 954 0 Srnones voRRrNBE~NRORORS ok ~earueonnion ahin - 94 78 100% 86% 92 100% B4% 97% 95% 104 98 114 80 101% 104% 93% 623% 31 9% 101 8% 11% 108% 633 98% 84 46 101 5% =t — - . BRouilo oS ntoaaloraaSommas wow RAILROADS. ‘Bales. High. 6 0% 87 9% . 2 86 .12 89 9 B5% 29 102% . 45 100% 89% 69% 9% 87% 13 81% 1024% 87% 94% 88% 6% 89% 80% 74 5a% 9% 62% b8 52 55% 29 109% 107% 0% 82% 82 814 117% 77 103% 88% 8314 88% 101 8% 91 44n 90% 67% 59% 60 59% 67% 100 105% 101% 109% 85% 66 102% 63% 6274 87 97% 53% 61% 81 0% 90 85 87% 95% 106% 59% 87 17 70% 59 85% 61 9315 Bklyn-Manhat Buff R&Pitt 4%s Canad North 7s. Canad Pacdeb 4s Car Clinch & O Central Pacific Ches & O cv 434 Ches & O gn 4% Ches & Ohio cv bs Chi B&Q 1st rf 53 CB & Q-11 div Chi & E Ill gn Chi Great We ChiM&StP4 CM & St P db ChiM&St Pcvals 1 Chi M&St P rf 4348 20 Chi M & St P cv by Chi M & St P 68 Chi& N W 6%s Chi & N'W 7s. ChiRys6s... ChiRI&Pgn 4s Chi R1& P rf 4 B e Buaiconnan ke Chi Un Sta 6348 Chl& W Ind cn Chl & W Ind 7%s Colo & Soy 438 Cuba RRs. .. Del & Hd 1st rf 48 Del & Hudson 5% Den & Rio G cn 4 D & Rio G imp bs D&RG Ist rf bs. Det United 4%s Erie 1st con 4 Erie gen 4s. Erie conv 4s Prie conv 45 B. Erie conv 4s D. Erie & Jersey 6s. .. Gr Trunk sf ab 6s Gr North gen § Hud & Man ref 5s.. Hud & Manaj 6s.. 1! 111 Central 5%s. ... Int Rap Tran 5s Int Rap Tr 6s stpd. Bupwa Int & G Nor aj 6; Towa Cent 1st bs. .. Kan City Ft S 4s. Kansas City S 3 Kansas City S b; Kan City Term 4s. Lake Shore 4s '28 Lake Shore 4s '31 Louis & Nash b5 s. Manhat Ry cn & MilEIRy & L 5s... M & St L 1st ref 4s. MEK&T4sB. MK & T 2dj 5 ME&TorinbsA. Mo Pacific gn 4s. Mo Pacific 6s. . NOTex &M in NY Centgen3% N Y Cent deb ¢s. N Y Centr i 5: N Y Cent deb 6=. N Y Cen LScl3%s. NYC&StL6sA.. New Haven c d 6 New Haven New Haven Ts fr. NYOnt& Wref4s N Y State Ry 4%s. N Y W & Bos 4%s. Norfolk & W cv 6s Northern Pac 3: Northern Pac 4s... Northern Pac 5s D. Nortarn Pacr i 6s. OreShort Liref 4s. 9 Ore-Wash Ist rf 4s 2 Pennsyl con 4128, . Pennsyl gen 4 Pennsyl gen & Pennsyl 6%8 Pennsyl gol Peoria & E inc ds. . Pere Marq 1st 6s.. & Nl oG~ nno-E0 Reading gen 48, Reading gn 4% RIATk & L 4133 St L IM&S R&G 4s. StL&SFplisA. St L& SF prin 5 StL&SF5%sD StL &S F adj 6s. StL& SFinc6s... SIL&SFpl6sC.. StLSW 1stds. StL S W con 4s'32. StP & KCShL 4%s. St P Un Dep 5%s Seab'd AL 4ssta Seab'd A Liret 4 Seab'd A L ad) 5s Seab'd A L con 6s.. Sou Pacific 4s ‘29 Sou Pacificref 4s.. Southern Ry gn 4s. Southern Ry 1st 53 Southern Ry 6s ct. Southern Ry 6%s.. Sou Ry Mobile 4s.. Third Ave adj 5s. Tol StL & W 4s. Union Pac 1st 4s. .. Union Pac st rf bs Virginia Ry 1st bs. Va Ry & P 1st 58, Wabash 1st 5: Wabash 2d bs Western Md 4s. Western, Pacific s, Wheel &L E cn 4s. 10 MARYLAND WHEAT AT HIGH AVERAGE Condition 86 Per Cent, Against 74 for Whole Country—Heavy Yield Predicted. Special Dispatch to The Star. BALTIMORE, June 21.—The av- erage condition of the Maryland wheat crop on June 1 was 86 per cent, compared with 74 per cent for the entire United States, according to a compilation of John S. Dennee, local government agricultural statis- tician. The 1924 forecast of produc- tion interpreted from June 1 condi- tion reports stands at 7,658,000 bush- els for Maryland. The 1923 final estimate was 10,- 426,000 bushels harvested for Mary- land and 578,000,000 bushels for the TUnited States. In Maryland 494,000 acres were sown in the fall of 1923, against 561,000 acres in the fall of 1922. The farm price per bushel on May 15, 1924, in Maryland was $1.05, and the United States as a whole, 96.5 cents. This compared with a farm price per bushel on May 15, 1923, in Maryland, of $1.26, and in the United States of $1.08.2. In Maryland, Mr. Bennee states that the crop is generally goo high lands, but, owing to exce: rains and the ' long spell weather, the crop was no so good in the lowiands. STOCK DIVIDEND LIKELY. ‘Western Pacific Calls Approval by I. C. C. Unnecessary. NEW YORK, June 21.—Decision by attorneys for the Western Pacific that the road is a holding company and no approval need be obtained from the Interstate. Commerce Com- mission for the proposed 3. per cent stock distribution is considered in the financial district to have re- moved all obstacles to the declara- tion of a stock dividend on the com- mon and preferred. Owing to the reoent oint trafic agreement with the Southern Paeific, earnings are said to be running at a high rate. FINANCIAL WHEAT AND CORN AT SEASON’S PEAK Pass All Previous Records in Ex- citing Trading During Week in Grain Pit. SEET———— | BETTER DEMAND FOR O0ATS Chicago Provisions Also Reach Higher-Price Average. By the Associated Press. | CHICAGO, June 21.—With trading | the largest seen in months, wheat and corn this week have surpassed all previous high-price records of the Present season. Reports of blighting heat in the southwest, together with talk of prospective world shortage of supplies, did much to lift wheat values. Corn jumped, owing chiefly | to persistent wet weather. Despite immense profit-taking sales, wheat | this morning, compared with a week a8, was 3a3% up, with corn showing 23446 gain; oats, Halal% advance and provisiops varying from 12 de- cline to a rise of 26 Soar Comtinuously for Nime Duys. It was only after wheat prices had been soaring continuously for nine days that something of a reaction took place. More favorable crop con- ditions both southwest and north- weat led to a drop of about 4 cents from the top figures reached, but ral- lies ensued, and many traders held to the view that the advance of the mar- ket was a major movement, due to a decided change in the world supply and demand outlook. In this connec- tion, it was pointed out that world stocks afloat had shrunk nearly 10,- 000,000 bushels during the last four weeks, notwithstanding shipments a gregating 67,000,000 bushels in that | period. Farmers Holding Back Cern. Unusual scarcity of corn offerings here resulted from farmers holding back old crop remnants, owing 1o iateness of the new crop, because of too much rain and other adverse con- ditions. It was asserted in some quarters that the advance in pric had put corn up to an unprofitable | feeding basis compared with hog values More demand for oats as a substi- tute for corn was noticeable Better export cail for lard made provisions average higher, although big one. COTTON PRICES DROP AND THEN ADVANCE Saturday Market Very Quiet as Weather and Crop Reports Are Closely Studied. By the Associated Press. NBW YORK, June 21.—The cotton market opened barely steady today at a decline of 3 to 11 points under sell- ing which seemed to come partly from the south and supposed to be | based on the more favorable charac- | ter of weather and crop reports. | Renewed ering by July shorts checked the decline at 28.63 for that position, and the market steadied up during 'the early trading on the strength of the near months and re- | ports of improved business in_cotton | £00ds in Lancashire. July rallied to 28.75 and October from 25.70 to making the market about one to points net higher. Cotton futares closed barelr steads July October Trecember October, 24.84; 25,80 March, De- cember, 25.09; - quoted. NEW ORLEANS, June 21.—The co ton market opened quiet but rath steady. First trades were unchan ed to nine points down, and imme- diately after the call there was a tendency toward easier price Octo- ber trading at 25.00 and December at | 24.82. The market promptly rallied | to yesterday's closing levels despite | reports of rain in the western belt and cooler and more favorable weath er. Private advices coming in rela- tive to the condition of the crop were not so favorable and bearish tenden- cies were held in check by fears of bullish private condition reports. Cotton fuwures closed steady at et decline of 11 to 33 ponts January, July Ociober December 27.99; .84 Jauary, October cember, 24.79, bid 24.96, bid. b CHICAGO LIVE STOCK MARKET. CHICAGO. June 21 (U. S. Dept. Agriculture).—Hogs — Receipts, 6000 uneven, 5 to 15 lower, mostly 10 off; sharpest decline on light weight; packing sows, steady to 10 lower: killing pigs unchanged: bulk good and choice strong weight butchers, 7.25a7.35: top, 7.45; bulk desirable, 160 to 225 pound weight, 7.00a7.80; bulk packing sows, 6.30a6.70; strong weight slaughter pigs, 6.00a6.25; esti- mated holdover, 7.000; heavy weight, 7.20a7.45; medium weight, 40! light weight, 6.60a’ fight light 5.80a7.05: packing hogs, smooth. 6.35a 6.85; packing hogs, rough, 5.20a6 slaughter pigs, 5.25a6 Cattle—Receipts, week ago beef steers 25 to 75 lower; mostly 5 5 off yearlings showing cline better grades fed steers, mostly lower; kinds under 850 largely down: closing trade very slow at de- extreme top matured steers. 11.15; best long yearlings, 10.60: fat she stock semi-demoralized; late 50 to 75 lower; spots more; tanners and cutters, 25 off; bulls, 35 to 50 lower; veal calves, 1.00 lower; stockers and feeders very scarce: steady: week bulk prices follow: Beef steers and yearlings, 8.25a10. stockers and Teeders, 5.65a7.75; fat cows, 4.50a6.5: fat heifers. 6.50a7.75; tanners and c ters, 2.50a3.25; veal calves, 8.50a9.50. Sheep—Receipts. 2,000; today's re- ceipts practically all direct; for week around 24,000 direct; 66 cars veed lots; compared week ago all classes lowel fat lambs, 2.00a2.50; cull-and common 3.00: vearlings, 1.75a2.0 sheep 25 and 50: feeding lambs, 1.00 a1.50; top range lambs at close 15.10. ————— RECORD SUGAR CARGO. {145,000 Bags Brought to Baltimore on Steamer Jennie F. Morse. compared and yearlings Special Dispatch to The Star. BALTIMORE, June 21.—What regarded as the record cargo of sugar | brought here for the American Sugar Refining Company was delivered by the steamer Jennie F. Morse Thurs- day. Under the hatches of the vessel Were 8100 tons of Philippine sugar, gathered at different ports. ‘From lloilo are 49,867 bags: Pu- lupandan, 69,742, and ' Manila, 26,115, making a total of 145,724 bags. The steamer is one of the fleet of cargo carriers built at Alexandria, Va. by Charles W. Morse. —_— GERMAN BANK REPORT. BERLIN, June 21.—The statement of the Bank of Germany as of June 14 shows an increase in gold hold- inge of 6,093,000 marks to 448.003,000. Silver coin reserve increused 27 730,000 marks. e M ‘WEEKLY BARK REPORT. NEW YORK, June 21.—The actual | consistent the stock of lard on hand here is a |y, condition of clearing house banks and trust companies for the week Show an_excess in reserve of $52,- 973,420. This is an increase of $16. 337,530, CHAIN STORE STOCKS IN STARTLING JUMP Continue Remarkable Gains Dur- ing Week Because of Heavy Earnings Repores. OIL SHARES REACTIONARY Stock and Bond Prices Advance, But Not So Rapidly. By the Associated Press NEW YORK, June 21.—Stock and bond prices continued their upward movement this week, but encountered stiffer opposition on selling inspired by unfavorable trade news. The wheat market was featured by a sen- satlonal advance, based on reduced estimates, while the cotton market developed considerable irregularity Railroad shares displayed the most strength in the stock market, although some striking gains were recorded Ly u number of in- dustrial speciaities. Buying of the rails was influenced by a sharp in- crease in car loadings and the diver- sion ¢f investment funds into high- grade railroad securities. Reports of consolidations also continued to play a prominent part in the demand for carrier stocks, particularly in the low-priced jssues. Steel shares held relatively firm despite the fact that weekly “trade reviews reported no improvement in_either demand or rolling mill operations. Copper Shares Rather Weak. Coppers sagged slightly when the red metal was quoted as low as 123 cents & pound, but marked indepen- dent strength was displayed bv American Smelting and _ Refining which established a new high price for the vear. . Omission of the dividend on Kelly Springfield 6 per cent preferred foi- lowed by a sharp reduction in prices by one of the leading tire companien brought considerable seiling for both accounts into the rubber issues, sev- eral of which broke through their previous low levels. Lower com- modity prices also had a depressing effect on the sugar shares. Chain Store Stocks Somr. Chain stocks continued to record remarkable gains in reflection of high current earnings. Special buying also wus rnoted in the tobaceo group. in whi veral popular issues touch- prices. Oil shares were ¥ on reports of another in- in crude production and a ntinuation of unseasonable weather in_ various sections of the country which hus had a tendency to restrict gasoline consumption Revival of interest in the shippings Wwas accompanied by higher prices Some of the best gains of the week were recorded by the public utilities, buying of which received its impetus | from the federal court deeision hold- ing the local $1 gas law unconstitu- tional and confiscatory. American | Waterworks issues developed unusual strength. —————— FEDERAL-AMERICAN DECLARES DIVIDEND Directors Vote Regular Quarterly 2 1-2 Per Cent Payment—Bank Clearings Show Gains. BY CHAS. P. SHAEFFER. Directors of the Federal-American National Bank have declared the regular quarterly dividend of 2% per cent on the capital stock of the insti- tution, payable onaJuly 1 to stock- holders of record June This bank has been on an annual dividend basis of 10 per cent for the last year. Since amalgamation of the Federal National and the American National Banks, which creates the Federal- American National. about two years ago, the merged institution has en- joyed steady progress. Deposits are in excess of $11.000.000 at the present time, with surpius of $600,000 and un- divided profits of $200.000. The capi- tal stock agzrezates 31.200.000. with otal resources of approximatel. - foralE P y 314, Bani clearings this week made fur- ther gains, but the increase is still very largely at New York City, while at many of the cities outside of New York the volume of settiements through the banks is somewhat less than a vear ago Total bank exchanges this wesk at all leading cities in the United Sta are $8,284.119,000, un increase of 7.9 per cent in comparison with a vear ago. o DRY GOODS MARKET. NEW YOF June 21 (Special). - The market for cotton cloths was dull today, following the trend of the last four days. Prices of most lescriptions wer. unchanged, - though 68 lost 33 to 1014 = = The raw silk market was quiet, but moderately firm at Friduys price evels. — NEW YORK EGG PRICES. NEW YORK, Jun — Eggs — Steady receipts, Nearby hennery whites, firs extras. 39a41: nearby and nearby western hennery whites, firsts to average ex- tras, 3ia3 BOSTON STOCK MARKET. BOSTON. June 21.—Following is « list of today's highest, lowest and closing prices for the most active stocks dealt in here: it Low. Close % 121 Am Tel & Tel Connor Copper ew Cornelia o ew Dominion A .. 110 w Eng T & T.. YNH&H 01d_Colony nincy .. cece But H 8wift & Co... .00 U S Smeit pf. Utah Apex Ventura 0l FWaidorg . Walworth Warren Bros . Winone ... CHICAGO STOCK MARKET. CHICAGO, June 21.—Following is a report of today's sales, high, low and closing quotations at the Chicago Stock Exchange: Salex 50 Armoar of Tl pf. Middie West Util Mid West Util pf. Stewart W Swilt & Swift Intl Un Light & Tow A Un Lt & Pow A pf Un Lt & Pow B... Un Lt & Pow B pf Wahi % 50 Wrigley 50 Yellow Mtg Total sales, 14,000 High. 10 36 110 20 50 Other Financial on following page.