Evening Star Newspaper, June 23, 1924, Page 20

FINANCIAL. " WALL STREET LIST . ‘TURNS IRREGULAR Convention Given as One Cause for Dull Trading and Lower Prices. EARLY TRADING STRONG First Railroad Statement for May Is Made Public. BY STUART P. WEST. €peciai Dispateh to The Star. NEW YORK. June 23.—Wall street ®egan the new week with an uncer- tain tendency in the price movement. but without any enthusiasm over the immediate outlook. Very little change occurred for the first hour or so, then Adams Exp (6) .. Adv. Rumley. Air Reduct (4).. Ajax Rubber. All Am Cab (6) Allied Chem (4) AIC&Dopr (7). Allis-Chalm (4) Am Agri Chem. . . AmAgr:Chem pt Am Beet Sug (4) AmBrS&F (5). Ani Can (16). AmC&F (12).] Am Chicle. .. Am & F P 25% Am Hide & L pf.. AmIce (7;...., Am Internati Am Linseed pt. . Am Locomo (6). Am Radiator (4) Am Saf R (500). Am Ship & Com. Am Sm & Re (5). AmS&Rpf (7). Open. 80 High. 80 6% () 6% 79 THE EVENING STAR, WASHINGTON, D NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Mex Seaboard(2). MexSeabd ctfs(2) Middle St Oil Minn & St Loul Mis Kan & Tex Mis K & Tex pf - Missouri Pacific. Missour! Pac pf.. Mont Power (4) . Montgom Ward. . ¥on Mot (3). Mother Lo 37%c Munsingw'r (3) Nash Mot (183g). Nat Biscuit (3).. Nat Dairy (3). Nat En & St. Nat Lead (8) Nat Lead pf (7) Nat Supply (3).. Nev Cons Cop . NewO,T&M 123% NYAirBr(4)... N ¥ Central (7).. NYC&StL (6). Open. 20% 120 2 2 13% 89% 16% 4T% 67 26% 20 6% 814 1034 53% 32% 28% 146% 112% 59% 13 100% 42% 104% 88 High. 204 20 2 2 3% 40 16% 4% 68% 27% 20 6% 3% 1034 53% 32% 235 1464 112% 59% 13 102% 42% Low. 19% 20 1% 2 13% 39% 15% 45% 66% 26% 20 6% 81% 103% 653% 31% 213 143 112% Clase. 19% 20 2 2 13% 39% 16% 45% 68 26% 20 6% a1% 103 63% 81% 2113 143 112% 59% 13 100% 42% ADVANCE RESUMED BY LIBERTY BONDS Trend of Money Toward Lower Rates Pushes High-Grade Issues Upward. FOREIGN GROUP STRONG Erie 4s Lead Railroad Lines in Today’s Fair Gains. BY GEORGE T. Specisl Dispatch to The Star. NEW YORK, June 23.—Higher prices in bonds were the rule today. Whatever may be the outlook over the longer period there was certainly no change today in the trend of money toward a lower level. This point was HUGHES. C, Exampl Lib 3%, Lib 1st 4% Lib 2d 43s. Lib3d 4%s Lib 4th 4% US4%s1952. IONDAY, JUNE 23, 1924. | N NEW YORK BONDS STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. (Sales are in $1,000,) UNITED STATES BONDS. {Fractions represent thirty-seconds. 101-3 means 1 Sales. High. 179 101-4 11 102-2 360 101-4 557 102-3 1189 102-4 247 105-1 13-32) Low. Close. 100-30 1014 10130 102 101-1 101-4 101-31 102 102 1024 104-26 105-1 FOREIGN. Argentine 5 Argentine 6s '37. Argentine 7a Austria 7s Belgium 63 Belgium 7%s. Belgium 8s Berne 8s. Bolivia 8s. Bordeaux 6s Brazil 7 Canada 6s 1931. Canada 6s 1952. SR T 25 5 8 8 3 22 10 14 11 6 100% 104% 104 109% 91% 85 8784 98% 101 102 RAILROADS. ‘Sales. High. Atchison gen 4s. Atlantic C Lcl 4 Atlantie C L 1st 4 B&Oprin3%s B & O SW div 3%s. 25 14 6 1 24 29 3 21 49 9 11 Bklyn-Manhat 6s. 265 Canad North 6%s. Canad North 7 Canad Pac deb 4 Car Clinch & O 5s, Car Clinch & O 6s. Central Pacific 4s. Ches & O cv 4%s. . “hes & O gn 4 Ches & Ohio cv Chi & Alton 3s Chi & Alton 3%s.. Chi B&Q 1st rf bs. Chi & ETll gn bs... @ o 90% 85 91% 9% 86% 89 85% 102% 100% 83% 99% 9% 113% 112% 80% 984 102% 88% 94% 884 96% 59% 36 99% T4 FINANCIAL COTTON OPENS WEEK AT LOWER LEVELS Poor Liverpool Cables and Better Crop Outlook Cause of Moderate Declines. By the Asvociated Press. NEW YORK, June 23.—The cotton market opened easy at a decline of 12 to 20 points today, because of rela tively easy Liverpool cables and fa- vorable weather reports. Prices stiffened a few points on re- newed covering by July shorts, and price fixing was reported for the trade, but rallies met increased offer- ings, and it was rumored that some of the more favorable crop advices from the southwest were accompanied by selling orders. The market soon worked off in consequence, July de- clining from 2855 to 28.37, and Octo- LOCAL BOND ISSUE ON SALE THIS WEEK Washington Railway and Electric Obligation Will Yield Slightly Over 6 Per Cent. PRICE EXPECTED TO BE 99 Railway Common Reaches Highest Point Today in Years. BY CHA P. SHAEFFER. The issue of $2,496,000 of ten-year 8 per cent bonds of the Washington Railway and Electric Company, au- thorized by the Public Utilities Com- mission last Wednesday, is expected to be put on sale about the middls of this week at a price understood o be graphically illustrated by the an- nouncement of the sale of $2,500,000 state of Indlana six months' tax anticipation notes on a 23 per cent basis. At the same time, $6.700,000 County of Hampden, Mass., five-month dis- count notes were sold on a 2% per cent discount basis. In the open market today, sixty-day funds, loaned per cent, while for six-month per cent was bid and offered. Liberties Resume Advance. Under these conditions, it was not surprising that the advance in Liber- Treasury 4%s crossed 105 again. All the old Liberty 4%s and the tax-ex- empt 3tes were fractionally higher. Active buying went on in the for- eign group. City of Copenhagen 5%s made a new high for the year. Ar- gentine s also made a new high fol- lowing denial of the report that new financing was in contemplation. Jap- anese 6lzs were stronger. All the French government {ssues were frac- tionally higher. In railroad bonds, Erie 4s had & run-up to within & of the high of the year. KErie con- vertible D 4s at 63 were at a new Pierce-Arrow. high for the year amd a high since at Pierce-Arrow pt. least 1906 in- Pierce Oil. Y g comes were up again, and there was % Spoon further active trading in Denver and it Coal (19 ... Rio Grande refunding 5s. St. Paul e issues were mostly heavy. vitts Ut ctfs 1.65. . Pitts & West Va.. Foreign Group Again Active. Postum Cer (4). . By the Associated Press. . Press St1 C (4) NEW YORK. June 23.—Bond prices Prod & Refiners. . followed an irregular course in to- Pun S Bl Po(1)pt. day's early trading, with various for- Pub Sy cign issues manifesting a firm tone il e on the proposal to call an interallied Public Serv 1ts conference to hasten application of BullmanCoi):'s the Dawes plan. Mixed price move- Punta Al Su (5).. ments prevailed in the railroad list. Pure Oil (114)..+ With semi-speculative issues winning Ry St Sgpf (7). reater favor inithe high-grade mort- Ray COnRCop-«: Katy” 4s advanced 1% points. fol- Reacing (4)..... lowing. o bRsk rise in the road's Reading rts. shares. The abrupt decline in At- Remington Type. Jantic Refining ®tock weakened the | Rep Ir & Steel. company's 5 per cent bonds, and Reynolds Spr (2) profit-taking forced recessions in gas Rey Tob B (3. company issues. lVl‘mAnd. for hh’r:)y Rey Tob pf (1) .. fed, prices moving up sub- Rossia Ins A (6) . Roy D'tch (3.46).. Royal Dutch rts.. St Josepn Ld (2). St L San Fran. St L-San Frpf. St L Southwest StLS'thpf (5).. Savage Arms. ... Schulte (8)... Seaboard Air L. Seab'd Air L pf. Scars Roe & Co. . Shell Trad (2.06) Shell Un Ofl (1).. Simmons Co (1) . inc Con Oii (2).. . Ny C&SLL pf (8) . NY NH & Hart 5 o N Y Ont& West. . Niagara Falls P Norfolk South. ... Norf & W (18). North Aneer (2).. North Am pf (3). North Pac (5).. Onyx Hosiery Orpheum (134).. Otis Elev (n) (4). Otis Steel....... Owens Bot (3) Pacific Oil (2). Packard (1.20).. Pan Amer (4). Pan Amer B (4) . Panhan P & R pf. Park & Tilford. .. Penn Railr'd (3). Penn Seab Steel. . Peop Gas Ch (7). Pere Marq (4 Pere Mar pf ( Pere M prpf (5) . Phila Co (4) . Phila& R& I Phil Mor (50¢) Phillips Pet (2).. 864 22% 19% 274 1% . 120 26% 43 56 19% 18% 64 7% 42 48% 10% 521 50% 40 29 the stock market became very irreg- 9@ ular. Profit-taking was apparent in stocks which had been favored in the buying last week, among them Coca Cola, Industrial Alcohol, Schulte Retail Stores, Consolidated Gas and Cast Iron Pive. Southern at New Hizh The upward swing in the brought to an end, but not ther conspicuous strength shown in several instances. Nickel | Plate crossed 9 for the first time. and there was some suggestion of & dividend increase. Chesapeake and Ohio was drawn along sympatheti- cally. The Erie issues were in de- mand at top prices and Southern Rail- way common made a new high. Later in the day realizing sales bore down upon the railway ion as well as upon other parts of tee list, making themselves felt in stocks like South- ern Pacific, New York Central, Atchi- son, Lehigh Valley and others which had been prominent at various stages of the recent advance. Puablic Utilitiex Slow Up. Public utility stocks experienced the same check as other groups. One of the exceptions was International Telephone and Telegraph. which again crossed 76, The upward move appeared o be merely a readjustment in ac cordance with the low interest rates Public Service of New Jersey was evidently running into a Iot of stock around 53, and Philadelphia Company was meeting _opposition above 48 Frooklyn-Manhattan Transit stocks were again strong at new high prices for both common and preferred Mathieson Alkali reacted sharply | following the publication of this dis- patch of what are believed to be the facts regarding the contract for the oil refining process with the Pan_American Petroleum Co. The truth appears to be that the amount which Mathieson will receive will be tnsignificant and quite insufficient | to warrant any such rise as the stock had last week Break in Cuyamel Fruit. break in Cuvamel Fruit due to the fact that the fruit mess, like the sugar business, been’ going through a period of r tion. Talk of new finu panied the fall in At below 80 Montgomery strong for a time as the result disclosure in its recent monthly carnings statement that its busine is holding up exceptional The reason commonly today's decline on the sfock change was the uncertainty of the political outlook. This was the most convenient as well as the most timely pretext. Just how much truth the was in it was doubtful Professional Wall street. looking for an excuse for a turn to the selling slde, laid stress upon the McAdoo meeting of Sunday night. in which he made the customary attack upon the financial district and urged the repeal of the Esch-Cummins railroad act. There was nothing, of i the least new in the this program. Railroad Decline Moderate. The market has known all along that McAdoo stood for the abolition of the present transportation law with safeguards for railway in- vestors. It has not allowed itself to become upset over the possible suc- cess of his candidacy, on the contrary, railroad stocks have stood out more | strongly than almost any other group. The decline today w quite | moderate and no more than was in keeping with a minor downward re- action. Prices went lower because there had been a considerable advance in the fortnight preceding, and be the surroundings were not sui for what was no more than a natur recovery, emerging into a “bull mare ket The stock Chi Great West 4s C M & Puget Sd 4s Chi M & St P 45 '26. Chi M&St P 4s '34. Chi M&St Pcv 4% Chi M&St P rf 43%: Chi M & St P cv bs. ChiM&StP Chi& N W 6% Chi&NWTs Chi Rys bs. 3 ChiR1&Pgns.. ChiRI&Prf ds ChiTH & SE 6 ChiUn Sta 4%s... Chi & W Ind cn 4s. CCC&StLrf6sA. Cleve Term 53 Colo & Sou 4%8. Cuba RR5s..... CubaR R Tks Del & Hd 1st rf 4 Del & Hudson 5%s Den & Rlo G cn 4s. D & Rio G imp bs.. D&RG 1strf bs.. Det United 4%s... Erie 1st con 4s Erie gen 4s Erie conv 4s Erie conv 4s B Srie conv 48 D.... Trunk sf db 6s. Grand Trunk 7s. .. Gr North gen 5%s. Gr North gen7s. .. Green B& W db B. afmaraleRanemen 54% 54% 9% 72 58% 52% 554 98% 109% 107% 6% 82 82 81% 9% 7 103% 99% 8% 8314 101% 887 101 78 91% 4% 91 6814 59% 93. The proceeds from the sale-wil be used in rotiring $1,000.000 of 6 per cent bonds which matured last De- cember, which wers paid for out of the company's treasury. and for the Purpose of reimbursing the company for capital expenditures 1918 The offering | attractive. Offer a yield of 4 102% 97 103% 106% 106 44 93 95% 967 108% 108% 98% 110%2 8% 944 9412 101% 89% 91% Am Stl Fdys (3) Am Sugar. Am Sugar pf (7). Am Sumat Tob. . Am T & Cab (5). AmT & Tel (9).. AmTel & Tel rts. Am Tobac (12).. Am Tob B (12).. Am Water Wks. . Am W W pf (6). Am W W 1st (7). Am Woolen (7). Am Wool pf (7). Anaconda. . ..... Asso Dry G (5). As DG 1st pf (6). Asso Ol (1%) ... AtT&SFe (6) .. AT&SFpt (5). Atl Coast T. (18). AtGuIf & WI... AtGulf & W Ipf Atlan Ref (4)... Atlan Ref pf (7)., Atlas Tack Austin-Nichols Auto Knitter. . Bald Loco (7). Bal & Ohio (5) Barnsdall A Barnsdall B B'ch Nut (2.40).. Beth Steel (5)... Br Em Stl 2d pt.. Brk Edison (3). Br'k-Man Tran. Br Man T pf (6)." BrklynUnG (4) Burns Br (10) Burns BrB (2). Butte C & Zinc.. Butte&Superior Butterick Co Cal Packing (6) . Callahan Z Lead. Cal Pet (1%)... Calu & Ariz (2 Calumet & H 50¢ Can Pacific (10). Cent Leather Co. Cent Lea Copf. .. Corde PasC (4). Chand Mot (6) Ches & Ohio (4).. Chic & East Ill..... Chic Gt West. ... Chic Gt West pf. . Ch Mil & St Paul. Ch Mil & St P pf. Chi & Nwn (4)... Chic R1& Pac... CRI&PpI(8).. Ch StPMin&O.. Chi Yellow C (4). Chile Cop (2%).. Chino Copper Coca-Cola (7)... Colo Fuei & Iron. Colo Southern. ... Col G & E (2.60)... Col Carbon (4) Com In Tr pf (7 Cor Solv A (4) Com Solv B. .. Congoleum (3). ... Consol Gas (5)... Consol Textile... Cont Can (4). . Cont Motors (20¢) Corn Product: Cosden Co. . Crucible Stl Cub Am Sug (3) Cuban Cans Sug. Cub Cane Su pt Cuyamel Fr (4).. Dan! Boone M (3) Davidson Chem. . Del & Hud (9)... Del L& W (6)... Det Ed Co (8)... Doug-Pectin (1). DuPtdeN (§)... Du P deNdb (6) Eaton AX (2.60).. El Stor Bat (4).. End-Jobn (5) . Erie = Canada E%s 1 Chile 7s 1943 Chile 8s 1926 Chile 85 1941 Chile 83 1946 Chinese Gov Ry Copenhagen 5%s. Cuba 5%s Czechoslovakia 83. Danish Munic 8s A. Danish Munic 8s B. Denmark 6s. Denmark 8s. Dutch E15%s. Dutch East 1 65'47. Dutch East 1 65'62. ElSalvador 8s '48. Finland s f 6s 1945. Framerican 7%s. . French Govt T%s French Govt 8 Haiti6s. ... Holland-Amer 6s Japanese 4s. . Japanese 2d 4 Japanese 6%s. .. Jergens U M 65'47. Lyon 68 Marseille 6s. . Montevideo 7s Netherlands 6s. Norway 6s 1943 Norway 8s Orient Dev deb 6s. Paris-Ly's-Med 6s. Prague T%s £ ber from 25.55 to 2542, the general list showing net losses of about 20 to 25 points in the early trading. Cotton fatures closed steady ® 8 Mark. rails was until fur- had been regarded as highly ton market opened easier in sympathy with lower Liverpool cables than due. First trades showed losses of 20 to 22 points compared with Saturday close, with July at 27.50; October, 24.75, and December 24.53. Prices rallied slightly during the call, and then fluctuated aimlessly while wait- ing for the posting of the weather map. There were some rains over Sunday in the western belt, but the weather was again warmer there, causing fears of another hot wave which was sustaining the market dur- ing the first half hour of trading. Cotton futures closed steads at net decline of 44 to 52 pointa, s Washington large lots. The enti entered into i period o N oo Ro-vnommanvoh®o e —Ra 000,000 of 1'nite per cent certifica & & Raflway Common at New T Common stock Vach Rail and I tained a new trade on_the change, five i the high stock in n The rema firme 1o way and the extent “apital Tra prior lien o a fraction high July Wash| October L.... December anuary .. Mareh *h Peoria and eastern ber. bid. e GRAIN AND PROVISIONS. Haa Enler® BALTIMORE, Md. June 23 (Spe- Huaée 2s- cial).—Potatoes, white, 100 Ibs.. 30a u il 1 0 1bs.. 1.00a3.00; new potatoe: HCent coficeihbe bbl, 1.25a3.00; asparagus, doz., 1004 Int Rap Tran 58 4.00; beans. basket, 1.5 : 'beets, Int Rap Tr 55 stpd. 3.0026.00; cabbage, basket, 1.40al Int Rap Tran 6s... sarrots, 100, 3.00a5.00; Int Rap Tran 7s erate, 0a1.25; cggplants, crate, Int & G Nor 1st 68 350; kale, bushel. 40a50; 1 Int & G Nor aj 6s. . bushel, 75a1.50; spring onion: Tova Contrtis. .. 1.50a1 parsnips. bushel. 1.2 Iowa Cent 1st s peas. bushel, 1.2 : peppers. 3 Kan City FtS 1.50a3.00; E 100, 1.60a1.50 Kansas City S 3s.. Spinach al00; squash Kansas City S 5s.. tomatoes, crate, 1.00 Lake Shore 4528, Lehigh Valley 6s.. Louis & N uni 4s. Queensland 6s Rio de Jan §s 1946 Rio de Jan 85 1947 Rio Gr Do Sul 8s. o Paulo State §; Seine Dept of 7s. .. Serbs Crotes Slo 8s oissons 6s. eden 68........ 55 545 1946, .. Swiss Confed 85 Company latter chang was weak On the t only favored at unchanged 104% 96% 1134 60% 1087 103 106'% 112 MISCELLANEOUS. Ajax Rubberss... 15 804 Am Agr Chem 15 6% Am Repubdeb 6s.. 19 924 Am Smit&R 1st 5s. 20 94 Am SmIt&R 6s.... 105% Am Sug ref 6s. 100% AmT& Tcltris. 96i5 AmT& Tcltr5s.. 56 100% AmT & T deb 5s. Am Water Wks 5s. Am Writ Paper 6s. Anaconda 1st 63 Anaconda cv db s Armour & Co 4%s Armour of Del 512 Associated Oil 6s. Atantic Refin 5s.. Barnsdall s £ 5s... Bell Tel Pabs..... Beth Steel rf 5s... Beth Steel 5%s '53. Beth Steel s { 6s. Braden Copper 6s. Brier H St 1st 5%s Bklyn Edison 7s D Bush T Bldg 55 '60. Calif Pete 6345. ... Central Leather 5s Chile Copper 6s. ... CinG & E5%s8'62 Col Gas & El 5s. . Col Gas & El 5s sta Commonwth P 6s.. Con Coal Md 1st 5s. Consumers Pow 5s Denver Gas 5s.... Det Edison ref 6s.. Duquesne Light 6s. Est Cuba Sug. Empire G&F 7 Fisk Rubber 8: Francis Sug 7%s. Gen Refractres 6s. Goodrich 633 Goodyear §s 1931. Goodyear 8s 1941. Hershey 6s 1942, Humble O&R 58, Illinois Beti lst 5s. Inter Paper 55 '47. K.CP & Lt 5s A'52. Kan G & El 63 '62 Kayser (J) 7s Kelly-Spring 8s Liggett & Myrs 5s. Lorillard (P) 58 Magma Cop cv. Manat{ Sug sf T%s Midvale Steel 5s. ... Montana Power 53 New Eng Tel 53... N Y Eden 15t 6%s. NYG EL H&P 4s. NY Tel d%s N ¥ Tel 65’41 S COMMODITY NEW WIRED STAR FROM ENTIRE COUNTRY Ud Kingm 53s " Ud Kingm 5%s " Uruguay 8s. Zurich 83 0a3.00; packed, barrel % )fll'-;:‘. lx‘rox apples. grapefruit. X 1.50a3. Louis & N6sB.... at. 6al4: blackberries. at lincre Louis & Nash . canatioupes, crate, 1.00a233;{ o 3 gooseberries, b [cated by Manhat Ry en 4s.. leberries, qt., 8al5; radishes, | agric Mil EI Ry & L 5s. 5: watermelons, 100 [ing M & St L 1st ref 4s. 35.00a75.00. = & SSM 634s. Selling Prices on Grain. : ;1" g Wheat —No. 2 red winter, spot. TadsSs. 116: No. 2 red winter, garlicky, do- TprinbsA. mestic, 1.16; no quotations on No. 4| MEE&LTéC or No. 3 red winter, garlicky. : Sales—None. F i Corn—Cob, new, 450 per barrel for Mo Pac‘mc r yellow and 4.35 per barrel for whit A ot No. 2 corn, spot. $9%; No. 3, 86%: k;)n_lrx;lx ;ns;slln L track corn, yellow, No. 2, at 95. one. ¥ N Y Cent gen 33%s. s ¥ Cent cn 45 '98. 2.00a5.50 2.5023.00 strawber HOU'S 23.—A t n acre reports of the s The was busi- h, - cing_accom- TON WHEAT EXPORTS JUMP. Commerce Department Report Shows Improved Conditions. Exports of wheat from the United Staten last week totaled 3,264,000 bushels against 68,000 bushels for e previous week Grain exports for last week com- with the previous week e public today by the Commerce artment follow: Barley, 311,000 ultu & & & & A bren brought Company Lrought 100% Y% 99% 100 95% 88t 96 1041 104% 96 96% 1094%°109% 98 994 101 KANSAS CITY of four big put through include the 2 Company of Kansas C ton Kansas Milling Company, the g and E 2 white against §0; No. 3 white, 2.000 ;. Total 1.000 against an grains in 33.000 against 710.000 ited States and Canadian in_transit, 394,000 bar- 000 barrels. N Y Cent deb 6 . ¥ Cen LS cl 3%s. Y C & St L debds YC&StL6sA. . ‘ew Haven d 7 ew Haven c d 6s. ew Haven 7 ew Haven 7s {r \ Y Ont & W ref & New York Ry rf 4s ¥ Y State Ry 4143, Y W & Bos 4%4s. rfolk & W cv 63 Northern Pac 3= Jorthern Pac 4s Northern Pac 5s D. Nortnrn Pacr i 6s. Ore & Calif 1st 5 Ore Short L ref 4s. Ore-Wash 1st rf 43 Pennsyl gen 4% Pennsyl gen bs. Pennsyl 6%s. Pennsyl gold s Peoria & Einc ¢ Pere Marq 1st 6s.. transit, bushels; wheat flour rels against = e TODAY'S METAL PRICES. NEW __YORK. June 23—Copper. quiet. Electrolvtic spot and futures, Tin, firm; spot and futures, Iron steady; No. 1 northern, 00: No. 2 morthern, 19.00a southern, 20.00221.0 spot. 7.00. Zic, quiet pot and nearby, 5.72a5.7 spot, 8.50. all Money Steady. June 23—Call money | : low. 2: ruling rate, 2 offered at 2% ; last ioan, all _loans against accept- ances, 1%; time loans easier: mixed collateral, sixty-ninety davs, 3: four- { six months ;. prime commer- cial paper, CHARGES ON FLOUR. June 23.—Flour un- 40 a barrel; ship- Bran Receipts of top grades of timothy and choice light mixed hay are light and the market rules steady for these grades. Common, draggy and winter hay as e well as heavy dark mixed are in,'a!or ample supply and the movement is|™ill be very sluggish. Quotations—No. 1 2, 25.00a28.50; No. 3, 0. 1 light clover mixed No. 2 light clover mixed No. 1 clover, mixed, 26.50a27.00; clover. 24.00a25.00. Straw- 1 straight rye, 23.00a 24.00 per ton; No. 1 tangled rye, 15.00 220.00; No. 1 wheat, 17.00a17.50; No 1 oat. 16.50a17.00. Std Gas & El (3). St Ofl Cal (2).... StOIlN J (1) StOINJTPL(7).. 1 Std Plate GI(75¢) Stew't War (10).. Stromberg C (8). Studebaker (4).. Studebak pf (7). Submarine Boat. . Superior OH. ... Texas Co (3).. Tex Gulf (16%). Texas & Pacific. . Third Avenue. ... Tide Wat Oil (4) Timken (13%)... Tob Prod (6) Tot Prod A (7) Transcont Oil. “Transue & W (3) Underwood (3) .. Un Bag Pa (6) Un Pacific (10).. Un Pacpf (4). ... U'td Alloy Ste Utd Cigar Stores. UDI1stpf (3%). Utd Fruit (10)... Utd Ry Invest. Utd Ry Invest pf. Universal Pipe. .. Universal P pt(7). U S Cast Iron P.. USCIPPL(T). . U § Distributing. U'S Ind Alcohol. . U S Ind Al pf (7). USR&Im (8)... USRE&EIDLAT).. U'S Rubber.. ... USR 18t pf (8) U S Smelting U S Steel (16) U S Steel pf (7). Utah Copper (4).. Utah Securities. . Va-Caro Chem Va-Caro Ch pf... Va Ry & Power. . vivadou. . wabash. . Wabash pt A Wabash pE B. ... Wells Far (2%) . West Pen (4) ... West Maryland. . West Mary 2d pf. Western Pacific. . West Pac pf (€). West E& M (4).. WEIstpf (4)... Wheel & L Erie. . Wheel & L Er pf. Wh Eag Oil (2).. Wickwire Sp Stl. Wilson & Co..... Wil & Co pt 5 Willys-Overland. Willys-Over pf. .. Woolworth n (3).. Wrg WJIr@)... 12 Yellow Cab (5)... 49 48% 48%| ipuruy extra. tPayable in preferred stock. Dividend rates 8s given in the above . table 20 - 20 |ge the unpusl cash payments based on the 2% 24% | intent “auarterly %or halfyearly ‘declarations, o5t 953 | Loiean otherwise’ noted. Cexira Cor apec 953 | aividends’are mot. included. 19% 53% B3 24% 244 10% 10% 9% 394 s 1% 58% 58% 96 43 95% 54% 43 54% 544 b4% 16% 156% 6 6 86 364 934 93% 83% 83% 98% 98% 26% 26% 21% 21% 37% 374% 8¢ 34 2% 27% 30% ‘124 44 MARIE. Mich., June s Lake Michigan about five per cent below t of the corresponding pe: in spite of the fact that programs in Detroit and r ave enforced increased of buliding materials. T! TESOrt service be timothy. 190 TR SOIEE PP P od of build CHICAGO GRAIN MARKET CHICAGO., n ness of Liv narket here hack e toda Saa steady: closin, @ 3 105% 91% 1004 101% 100 965 10312 115% 102% 99% 9615 86% 934 97n 100 884% 9774 9% 109% 97% 88% 97% 99% 1115% 85% 96% 105% 107% 945 934 102% 10310 95t 93% 994 93 102% 102% 994 9% 964 109% 115 93% 101% 1084 104% 100% 86% 92 99% 100 841 97% 95% 104 97% 103% 95% 118% CHICAGO LIVE STOCK MARKET. CHICAGO, June 23. (United States | Department of Agriculture)—Hogs— | i/ Receipts, 8,000 head; moderately ac-|of he tive, unevenly 15 to 25 lower; bulk |t Live good and_choice 250 to 310 pound g butchers, 7.10a7.20: top, 7.20: bulk d. sirable, 140 to 150 pound weight 6.50a6.70; bulk packing sow 6.25a 6.50: bulk good and choice strong- | weight killing pigs, 5.75a6.00; bulk of sales, 6.70a7.15; top, 7.2 | Cattle—Receipts, ' 23,000 head: beef | roquiren steers and vearlings, 15 to 25 lower | mea o rents than last week’s extreme close: fat| sparmed o s cows and heifers sharing decline: | showed mater trade very slow; little done: some| (ats were choice South Dakota bullocks held at | crop 11.90; best heavy steers. early, 10.10; | jowe yearlings and lightweight kinds pre- | ot | dominating in fed steer run; bulls| Lower guotatiorn and veal calves about steady: bulk | weaken the prov desirable bolognas, 4.50a4.65. few | July corn tr heavies. 4.75 and better; gras record for the se and on cuttery order downward, 3. were reported t choice vealers to packers, 9.00 dow! 5 nts ward: light kind around $.00: stoc! ers and feeders comparatively Sheep—Receipts, 17,000 head; slow: better grades native lambs about steady; others weak to 25 lower: culls steady; no early sales range lamb: bidding 25 or more lower; she scarce, eady; early bulk nati lambs, 13.00a14.00: sorting moderat cull natives mostly 8.00a8.50; heav fat ewes, 4.00 and down. DRY GOODS PRICES OFF. NEW YORK. June 23 (Special).— The Worth street cotton goods mar- ket was quiet today, with some con- cessions being offered purchasers. Print cloths were quoted at 9 for 64 by 60, and 10 for 6S by 72, the latter an eighth of a cent reduction. The raw silk markets were quiet with prices practically unchanged from last week. high, b 934 10215 110% 109% 347 96% 9214 814 71 9% 82% 70 85 94 6% €6% 101% 85 80 99% 8 68% 634 5634 79% 96% 89% Ti% 29% 1013 106% 84 awk rs wit D w of buyers i rs at a sha opening prices lower fluct @ exchange dealings then. a two-fold significan, meant, first, that Wall street was Wwaiting to get a better line on the political campaign. They meant, <& ond, that it was waiting for m assurance that the trade recession of the last three months had fully run its course First May Report. Out. The first May railway etatement— that of the Southern Pacific—attract- ed much attention for its bearing upon the question of general decline and secondly upon the policy of rail- way managements regarding main- tenance appropriations. Decrease in the Southern Pacific gross of $1,660.~ 000 from the month last vear was quite in keeping with the known comparison of trade activity. The more interesting point was that the May gross was down very little from that of April On the other hand, net operating income in May was reduced $800,000 from the month before and $1,170,000 from the month in 1923. This demon- strated that in th s of Southern Pacific expenditures for property im- provement were not being relaxed on acount of general business conditions. MARKET CLOSES HEAVY. had, They Reading gn 414s... Rio G West 1at 43. Rio G West cl 4s. t L IM&S 4s'29 St L IM&S R&G 4s. StL&SFpl4sA.. StL& SFprinbs. StL& & Erie 2d pf. Fairbanks-Morse. Famous P1 (8). .. Famous P1 pf (8) F'd M & S pf (T) Fifth Av B (64c). Fisher Bdy (10).. 188 Fleishman (3)... 52 Freeport-Texas.. &% Gen Asphalt. 40% Gen Baking ( 98% Gen Cigar (8)... 87 General Elec (8).. 231% Gen El spe (60c). 11% Gen Mot (1.20)... 13 Gen Mot db (7)... 93% Gen Petm (2) 404 Gen Retr (4). a8 | Gimbel Bros. 50% Goodrich, ....... 18 Goodyear pf..... 45% Gdyear prof (8). 93% Granby Consol... 14% Gt North pf (5) 60% Gr Nor Ore (3)... 27% Gr Canan Cop. .., 11% Guantan Suwar. 6% Gulf Mo & Nor... 17 GuMo& Np! (5) 67% Hartman Co (4).. 35% Hayes Wh'l (3) 341 Househ'd Pr (3).. 82% Houston Oil. 69 Hud Mot C (3)... 23 Hupp Mot C (1).. 12 Tllinois Cent (7).. 106 111 Cent pt (6) ... 107T% Indian Motorcye. 17 indian Refining. . 6% Inspiration Cop.. 23% Interb Rap Tr. 23 Internat Ag new. 3% Int Com Eng (2). 28 Internat Har(5). 86% Int Mer Marine % Int Mer Marpf... 354 Internat Nickel.. 154 Internat Paper... 464 Int Pap pfst (6). 724 Int T&T (6) 75% Invincible Oil 12% Tron Products (6) 4814 20 24% 95% 19% 63% 244 10% 39% 1% 58% 95% 43% B4%% 54% 15% 6 26 9 85 93% 267 21% 37% 34 With recei 1% 186 62% 8% 4ond 985 87 230% 11% 13 93% 40 36 51 18 45% 93% 14% 60% 27% 1% 6% 17% 65% 35% 34 321 67% 234 12 12 105% 105% 107% 107% 17 17 6 &% 23% 234 224 224 34 3% 22% 22% 85% 85% 8% 8% 34 34 14%° 14% 44 464 2% 2% 75% 6% 12 a inc StL& S F pl 6 StLSW con 4s StP & KCShL 4% StP UnDep 5% San A & Arn P 4s.. Seab’d A L 4ssta.. Seab'd A Lref 4s.. Seab'd A L ad} 5: SF SF SF 66% 85 80 99% 78 68% b4 b8 80 9614 89% 744 997 101% 106% 84 66% 56% ATH 4T% 834 L83% 92% 92 86k B6% 98% 984 104% 104% 103% 103% 96% 55% 92% 92% 100 99% 94 94 63% 631 88% 88% 827% Live poultry, 30a35; spring chickens, per pound, '35a45: leghorns. 30a35 old hens, 18a26; leghorns, old, old_roosters, 15; ducks, per pound, 15a20; pigeons, pair, 40a50; spring ducks, 26a28. Eggs—Loose off—Native and near- by firsts, free cases, per dozen, 26%, southern, 25%. Butter—Creamery good to fancy, per pound, 38a43; nearby creamery. 43a45: ladles, 30a32; rolls, 35a3&; storepacked, 38; dairy prints, 28a3l; process butter, 34a35; 29a3l. Wi e CHANGES IN GRAIN. NEW YORK, June 23.—The visible supply of American grain shows the following changes in bushels: Wheat decreased 1,452,000; corn decreased £46,000; oats increased 58,000; rye de- creased ,000; barley decreased 84,000 MOB-,E ‘WOOL MOVING. BOSTON, June 23 (Special).—Sum- mer street raw wool houses reported some liquidating sales to make ready for the new clip today. but for the most part the market continued quiet. A cheerful tone was apparent de- spite the present weakening tendency of prices. —_— BOSTON STOCK MARKET. BOSTON, June 23—Following is a list of today's highest, lowest and closing prices for the most active stocks Qealt in here: Am Tel & Tel Am Wool . Amoskeag Roston & Albany. Roston & Maine Roston-Elevated Calu & Ari I\ Hecl Cannor J T. Dubilier East Butte 106 108 4% 934 102% 108% 95% 94 99% 93 103 102% 99% 9% 964 109% 115 93% 1024 108% 104% 101 87 924 99% 100% 84% 97% 9514 104% 97% 103% 957 113% 80 80% 101 101 100% 101 104% 1045 92% 923 62 62 3% 814 9% 94k 101 101 984 98% 108% 108% 63% 68 9% 9TH 83% 83% 45 45 48 48 101 101 06U 9% Sou Pacificref 4 Southern Ry gn 4 Southern Ry 1st 53 Southern Ry 6s ct. Southern Ry 6%3. Sou Ry Mobile 4 Third Ave ref 4s. Third Ave adj b TolStL & Wds... Union Pac 1st 4s. Union Pac 1strf 48 Union Pacev 4s... Union Pac 1st rf 5s Union Pacific cv 63 Virginia Ry 1st 5s. VaRy & P 1st bs.. Wabash 1st 5s. ‘Wabash 2d 5: Western Md ‘Western ific 5. West Shore 1st 4s. ‘Wheel & L E cn 4 684 Whel & LETf 4%48 3% TOTAL SALES (Par Value 11am.. 3020000 12noon 6032000 1p.m.. 7612000 2p.m.. 9158000 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ——Noon.— Bid. ofter. 108 108% 106% 107% 0% Norta Am Ed 6s Nor States Pow Nor States Pow Northwst B Tel Ts. Otis Steel 85 Pacific Gas & Pac T & T 18t Pacific T & T 58 Pan-Am Pete 78. .. PhilaCoref 65 A.. Phil & Rdg C&I 5s. Pierce-Arrow 8s.. Pierce Oil deb Ss.. Producers & Rf 8s. Producers&R S8 w. Public Service bs. Pub Serv Elec 6s.. Punta Alegre 7s. Saks & Cosf T Sharon St1 H 8s. Sinclair Oil 6%s. Sinclair Oil 7s. .- Sin Crude Oil 5%s Sin Crude Oil 6s Sin Pipe Line bs South Bell Tel 5: Southwest Bell Steel & Tube 7s. Tenn Elec Pow 6s. Tide Wat Oil 63%s. Unton Bag & P 6s.. Unit Drug cv 8s U S Rub 1strf s U S Rubber 7%s U S Smelter 6s. USSteelsf5s.... Utab Pow & Lt 5s. Va-Car Chem Ts Va-Car Ch 7%s w. Vertientes Sug 7s. Warner Sug 7s "41. Western Elec 5s. ‘Westinghouse 7 ‘Wickwire Spen 7s. | willys-Ov 6% ‘Wilson & Co 1st 6: ‘Wilson & Co cv 6s. ‘Wilson&C cv Tis. ‘Winchester A 7% Youngstn S & T 6 Iniy September ecember CoRN Juis prember December . 0ATS July September December | LARD 6% 17 651 354 84 324 67% 23 u - Pptember RIBS — Joly Uieesors September Breaks in Atlantic Refining Has Weakening Result. By the Associsted I’ NEW YORK, June 23.—A sharp break in Atlantic Refining stock en- couraged selling in other sections of today's stock market, giving the gen- eral list a reactionary appearance after an initial display of firmness. Trading slowed up appreciably with professional traders inclined to with- hold important commitments until after the Democratic presidential nominee was picked and the platform adopted. Sales approximated 700,000 shares. The closing was heayy. Prices con- tinued to sag in the late trading on the persistent selling of Atlantic Re fining, which extended its loss nearly 10 points on reports of ne financing. —a Hibbx & Co) selling checks todas. Nominal zold value London. Montreal Paris, 1 Brossels Rerlin, pound_. ooy ERIE GETS L C. C. PERMIT. The Prie Railroad Company was today authorized by the Interstate Commerce Commission to pledge or repledge $17,217,000 of first consoli- dated mortgage general lien 4 per cent bonds, $8,372,000 of general mortgage 4 per cent convertible fifty- vear bonds, and $440.000 of general mortgage 4 per cent convertible fifty- year bonds, as collateral security for notes issued. L STEEL SALES INCREASE. Agricultural Implements Also in Much Better Demand. Special Dispatch to The Star. PITTSBURGH, June 23.—Pig_iron prices now are quotable at $21.50 2 ton for valley, Bessemer at $20 and foundry 320, with $1.76 freight to Pittsburgh. There is a better demand for fabricated steel, orders running as high recently at 19,000 to 20.000 fons a week. Shipments of tin piate are light. NEW _ORLEANS, June 23.—A larger volume of business in agricul- tural implements has been booked in ihe last ten days in this section than at any similar period in two years. Spring business, however, was very poor, parts replacements taking the place of new sales. . < RATES ON BAR SILVER. LONDON, June 23.—Bar silver, 34% per ounce; money, 1% per cent. Dis- count rates, short bills and ‘three months, 31-16 per cent.- NEW YORK. June 23.—Bar silver, $6%; Mexican dollars, 51%. 28% 3% 23% 86% 8% 35% 15% 464 72% 76% 124 8% 20 24% 95% 19% 6534 24% 10% 9% 1% 58% 96 43% Bd% 54% 15% 6 36% o 85 98% 2% 21% 3% 34 27% 31% 12% 44% 1% 5% 18 T 67 101 384 0 Madrid, peseta . Vienna, crown Budapest, crown . Low. Close. e Shian % By the Associated Press NEW YORK, June 23 changes e States d mand, 4 bills ‘on mand, Demand, .0432; gium—Demand. Germany Holland—De mand, .1348 Denmark—Demand land—Demand, .1774. .1343. _ Greece—Demand, land—Demand, .0000001% vakia—Demand, .0296. Jugoslavia —Demand, .0118%. Austria—Demand 000043 Rumania—Demand, .44. Ar- gentina—Demand, .3 Brazil—De- mand, .1100. Tokio—Demand, .41%. Montreal, 98 17-32, Aluminum Co. of Amer 7s 1925. Alumigum Co. of Amer. 7s 1033. American Sugar 6s 1837. American Tel, & Tei. 66 Ansconda_Copper 6s 1829 Anglo-American Oil 73 Associated Oil Gs 195. Bell Tel. of Canada 5s Canadian Nortbern 5i4s 1924 Central of Georgia 8a 1929. Central Leather 58 1925 Chi., Mil. & St. Paul 63 1034 Chi R. 1. & Pacific 5%s 1926, Columbia Gas & El. lst 5e 1927 Du_Pout_7%s 183 Federal Sugar Ref. Fisher Body Cor Fisher Body Corp Goodyear T. & R. 82 Gesat Morthers YL 0oL, L Guit orp. of Pa. 534s 1928, Humble Oil 5%s 1932. Kennecott Copper 7s P. & 8. 8. M. 6%, Morris & Co. 7%s 1830 New York Central 6s 1935, Oregon Short Line 43 1929. R, 78 1980, Foreizn ex ns_(in United Britain—De %: Sixty-da pebuBononmmrnelradhtenwifiverrasnbra noskarSonmolalomaouEEolar 880 Jones Bros Tea Jordan Mot (3) KC P&L1st (7). Kan City South. . Kan C So pf (4). Kayser Jul & Co... Kelly Spr Tire. ... Kenne Cop (3)-.. Keystone T & R. Kinney G R Co. .. Laclede Gas (7) Leh Val (3%). Lig & Myrs (3). Lig & MyTs B (3). Loews Inc (2). Loft, Incorpor. Lorrillard (3). Louts & N'sh (6). Mack Trucks (6). Mack T 1st (7) Magma Copper. Mallinson & Co. . Man El modgtd 4. Manhat Shirt (3) Maracaibo Oil. Marland Oil. Marlin Rockwell. Mathieson Alkall Markets at a Glance High. Low. Last. Call Money. 2 2 2 HOURLY SALES OF STOCKS. 1lam..... 171,500 12 M. .. 319,800 1pm.....426300 - Zp.m.....530,800 U. S. TREASURY CERTIFICATES (Quotations furpished by Redmond & Co.) Ofter. 100 13-16 100 29.32 NEW YORK—Stocks, heavy ; Atlantic Refining breaks 92 points. Bonds, irregular; several foreign issues at 1924 highs. Foreign exchanges lower; French francs decline. Cotton, weak; fine crop prospects. Sugar, quiet and steady. Coffee, steady; favorable Brazilian reports. CHICAGO—Wheat, higher; sympathy with Winnipeg. Corn, stea firm cash situation. Cattle, lower; limited demand. Hogs, eas: Will Study Laplanders. Dy the Associated Press, GOTHENBURG, Sweden, June 21.— The Lapps. mysterious nomads of the north, are again to be studied by scientists. Dr. G. Clyde-Fisher, a curator of the Museum of Natural History, New York, is now here, on his way to Swedish Lapland to ob- serve the lore, customs an ally e of these people. Accompanied by | Maxwell Mot A, Carveth Wells, he will take moving | Maxwell Mot B pictures and conduct anthropological | May Dpt St (5) Fesearch, . and (per tri Y o1 Czechoslo- 232, 158550, 2 FEs 3 FEEE 5%s September 15, 1924.. 4iis December 15, 1924. 45 March 15, 1025 100 1516 2 1015 4iés June 15, 101 4%s December 101 4% Mareh sl 43¢5 Seplember 1926.. 101 4%s March 1% 1927.....0 10 4128 December ' 15, 1927... 1 —_— COAL MINES AT STANDSTILL. SPRINGFIELD, 1ll., June 23 (Spe- cial).—Production of coal at Illinois mines is almost at a standstill be- cause mine owners in this state di clare they cannot compete with Ken- tucky coal produced at lower wage acales. NEW YORK EGG PRICES. NEW YORK, June 23.—Eggs steady; receipts, 13,362 cases. Fresh gathered, extra firsts, 28%a29; do, storage packed, 29%a30; fresh gathered. firsts, regular .packed. 27%a28; do., storage packed, 28%a29; nearby hennery whites, closely selected extras, 39a41; nearby and nearby western hennery whites, firsts to averagé extras, 31a 28; nearby hennery browns, extras, 33a37; Pacific coast whites, extras, 38 239; do,, firsts w extra - 0ld_Colony Pacific Mil wift & Co. Swift _Intern: Tnited Fruit United Shoe U8 Smelt pfd Utah Apex . Ventura Oil . Warren Bros Saefty First Cups Presented. Special Dispateh to The Star. CUMBERLAND, M4, June 23— Several hundred officials-of the Baiti- more and Ohio railroad from all over 38 & 1-32 19-32 5-16 = ATLANTA, June Florida fruit men and Geo a live stock ipterests are at swords points over the petition to the courts hy the state of Florida to prevent the state of Georgla from stopping shipments of watermelons past the state line The Georgia authorities have declared a quarantine against melons packed in straw, which they claim contains cat- tle ticks, 1) Tidewater Oil 63 Union Tank Car U. S. Rubber 7 Western, Union, 8igs 1936 ‘Westinghouse E. Wheeling Steel 6s 1926, P T S Rumanian women are declared to have the .prettiest feet in the world and Polish women the prettiest ts, 30a36. hande. 44 30% 12% 44 50 +51% 49 49 13% 13w 12% 12% 88 88% 88 88 i