Evening Star Newspaper, June 24, 1924, Page 24

* FIN STEEL SHARES SELL OFF IN LATE TRADING Fear of Poor Trade Reports Tomor- row Cause of Weakness at Close. ERIE STOCK IS STRONG Sears-Roebuck Dividend Helps Ad- vance Early in Day. BY STUART P. Bpeetal Dispatch to The Star. NEW YORK. June 24.—Again today prices on the stock exchange pursued a varying course, but in the main body of the list the disposition was to rally This demonstrated that there had been no serious significance attaching to Monday's decline. At the outset speculative in the class of American Can, Baldwin Locomotive and General Blectric went slightly lower, but when it was found that no stocks were coming out traders set about covering. Oper- for the rise were resumed in do Fuel and Iron, carrying it 10 a new high, This is just now the prime “mys- tery” stock. Evidently the rise has nothing to do with steel trade con tions, because other steel shares ha not been affected. On the other hand, reports of oil discovery on the com- pan properties have received offcial sanction Sears-Roebuck Soars. One of the incidents of the dav was the deelaration, for the first time n three vears, of a dividend on Sears- Roebuck common stock. That this big order company, depending r its earnings above all else upon sricultural conditions, should have ken this action on the very day of the assembling of the Democratic convention was interesting. Wall street naturally drew the inference that the dividend would not have been restored had it not been for the recovery in farm prices during the last month. But the further signifi- cance lay in its connection with the agitation for “farm relief.” More than ever these proposals will appear as merely plain politics Commercial Solvents Plans. Fresh developments in the Com- mereial Solvents situation are looked for in banking quarters usually well It is expected that the ck will be converted into < The A stock around 1t would be at $30 a share and whate dends might bave occurred. Th is only a small floating supply both cl of stock and $1.00 in preferred. Commercial Solvents earnings are reported to he quite sat- isfac ¥ Word that the Studebaker Corpora- tion had taken on additional em- ploves was looked upon as a favora- ble sign by those who profess to better bLusine tions ahead for the ufacturers Can Dividend Gossip. The upturn American Can imme- v following the declaration of the regular dividend did not co- with the view that the omission an extra disbursement was cause some concern. The dividend ac tion, acd to one observer, “s Rested that certain banking interests which have been reputed as being ac- tiv WEST. leaders B ire automobile r only incide of for ¢ clear time." The market for Atlanta. Birmingham and Atlantic railway stock paid no at- tention to the discussion regarding the o of the road being purchased by the Louis and San Francisco. The stock, which closed at $2 at the end of last week, developed no activity today. Steel Shares Thrown Over. Shares of independent steel com- panies were actively sold in the after noon. looking forward to first testi mony in Wednesda views that the not_vet turned. Wall street a report to talists in o Chesapeake and Ohio had_ sec commanding interest in re Marquette, and were c plating the addition to this great new svstem of the Virginian railway and the Pittsburgh and West Vir- Einia, Rumors to this going the rounds and have met to lift a helping hand at situation has ©n the other hand, was much interested in the effect that the capi- effect have been for a long while with the usual “offi- cial” denials. They were generalls credited, however, in the financial community today, and the Erie bonds and stocks were the features in the trading of the last hour. Also the episode threw light upon the reason why the market for the railway shares has not been more sensitive to nolitical uncertainties and the poor earnings comparisons. CLOSING IS IRREGULAR. By the Associated Press NEW YORK. June 24—Stock price: moved irregularly higher in today's quiet session with seventeen establishing new peak prices for the year. Bear selling was successfully con- ducted in various sections of the list, particularly in Bethlehem. which sank to the lowest level of the year on unfavorable dividend rumors. Sales approximated 650,000 shares. The closing was irregular. Bullish operations in the low priced rails were resumed in the late trading with the best gains being recorded by New Haven, New York, Ontario and West- ern and the Peoria and Eastern. Cuy amel Fruit broke 3% to 53, a new 1924 low. Markeis at a Glance NEW YORK.—Stocks irregular; Bethlehem Steel at new 1924 low. Bonds steady; foreign and United States government issues firm. Foreign exchanges heavy; sterling and franes slightly lower. Cotton higher; spot house buying. Sugar steady: trade buying. Coffee easier; commission selling. CHICAGO.—Wheat, weather in Canada. Corn firm; unfavorable ports. Cattle dull and easier. Hogs lower. house firmer; cold crop re- —_— FOREIGN EXCHANGE. Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks £old value. today. London. poand. . 48665 4.33 “Mootreal, dollar. B B Paris, franc Brossels, franc. Berlin, mark Rome, Rodapest, crown Prague, crown Warsaw, mark. By the Associated Pres NEW YORK, June 24.—Foreign ek- changes easy. Quotations (in United States dollars): Great Britain, de- mand, 4.31%; cables, 4.32%: sixty-day bills ‘on banks, . "France, de- mand, .0526; cables, .0527. Italy, de- mand, .0432; cables, .0432%. Belgium, demand, .0459; cables, .0460. Ger- many, demand (per trillion), .23%; Holland, demand, .37.45; Norway, de- mand. -1350; Sweden, demand, .2653: Denmark, démand, .1685; Switzerland, Aemand, .1774; Spain, demand, .1343; Greece, demand, .0173; Poland, , de- mand, .00000012; Czechoslovakia, de- mand, .0294%: Jugoslavia, demand, 0117%; Austria, demand, .000014%: Rumania, demand, .0043% ; Argentina, demand, .3242; Brazil, demand, .10 Toklo, demand, 41%] Montreai, .98 11- s and enlarged opera- | on the bull side did not see their | issues | ANCIAL,’ Adv. Rumley. Ajax Rubber IA\Mkn Juneau. All Am Cab (6). Allied Chem (4).. Allis-Chalm (4).. Allis-C M pf (7). AmBrsS&F (5). AniCan (16). Am Chain A (2)., Am Drug Synd Am Express (6) . Am For P f pd(7) Am Hide & Lea. . Am Hide & L pf. AmTce (75. Am Internatl. AmLaF FE(1). Am Locomo (6). Am Loco pf (7). Am Radiator (4) Am Saf R (50c). Am Sm & Re (5). AmS& Rt (7). Am Stl Fdys (3). | Am Sugar. ... Am Sugar pf (7). Am Sumat Tob. . AmT & Tel (9). AmTel & Tel rts. Am Wator Wka. . Am W W st (7). Am Woolen (7) Am Writ Pap pf. Anaconda. . Arm pf Del (7).. Asso Dry G (5).. As DG st pf (6). AtT&SFe (6).. AT&SFf (5). Atl Birm & At... Atl Coast L (18). AtGulf & WI... At Gulf & W Ipt Atlan Ref (4)... | Atlan Ref pf (7). Austin-Nichols. Bald Loco (7)... Bal & Ohio (5). Barnsdall A. Beth Steel (5) Beth Stl pf (7). Beth Stl pf (5) Br Em Stl 2d pf. Brk Edison (8) Brk-Man Tran. . Br Man T pf (6). BrklynUnG (4) Brown Shoe (4).. Butte C & Zinc. Cal Packing (6) . Callahan Z Lead. Can Pacific (10). Cent Leather Co. Cent Lea Co pf CRR,NJ (112). Cerde Pas C (4). Chand Mot (6).. Ches & Ohio (4) Ch&Opt (634) Chicago & Alton Chic & Alton pf. . Chic & East Il Ch & East Il pf. Chic Gt West. Chic Gt West p Ch Mil & St Paul. Ch Mil & St. P pf. Chi & Nwn (4) Ch Pneu T (5) ChicR1& Pac. CRI&PpL(6).. CRI&PDL (7). Chi Yellow C (4). Chile Cop (2%). Chino Coppe: | Coca-Cola (1) Colo Fuel & Iron. Colo Southern. . .. Col So 1st pf (4). Col G & E (2.60).. Cora Solv A (4).. Com Snlv B. Congoleum (3) Conley Tin Foil. . Consol Gas (5). Consol Textile. Cont Can (4).... Cont Motors (20¢) Corn Products Corn Pr R pf ( Cosden Co.. ... Crucible Stl (4) Crucib Stl of (7). Cub Am Sug (3).. Cuban Cans Sug. Cub Cane Su pf.. Cuyamel Fr (4).. Dan! Boone M (3) Davidson Chem. Del & Hud (9) Del L& W (6) Det Ed Co (8) Dul So Sh & Atl. Du Ptde N (5). Eastman (16%4). Eaton Ax (2.60) El Stor Bat (4) End-John (5) Erfe. ... Erie 1st pf. Erie 2d pf. Fairbanks-Morse. Famous P1 (8). .. Fifth Av B (64c). Fleishman (3)... Gen Asphalt. Gen Asph pt (5) . Gen Baking (6) Gen El spe (60¢). Gen Mot (1.20). Gen Mot pf (6).. Gen Petm (2). Gen Refr (4) Gold Dust. Goldywn Pict. Goodyear pf. Granby Consol Gt North pf (5). Gr Nor Ore (3). Guif St St (5)... Hartman Co (4)... Hayes Wh'l (3).. Househ'd Pr (3) Houston Oil. . ..+ Hud Mot C (3) Hydraulic Steel. Tllinos Cent (7) 1ll Cent pf (6) Indian Refining.. Inger R (128) Inspiretion Cop. Interb Rap Tr.. Internat Agri Internat Ag pf. Int Bus Ma (8). Int Cement (49. Int Com Eng (2). Internat Har(5) . Int Mer Mar pf. Internat Nickel. . Inter Nick pf (6). Internat Paper. IntT&T(8). Intertype (11%) . Invincible Oil... ... Iron Products (6) Jones Bros Tea. .. Jordan Mot (3)... Kan City South. Kelly Spr Tire. Kelly Springfd pf. Kenne Cop (3) Keystone T & Kresge SS pf (7). Lee Rub & Tire. .. Leh Val (3%) Lig & Myrs (3).. Lig & Mvrs B (3). Lima Loco {4) Loews Inc (2) Loose-Wiles Bis. . Lorrillard (3). Mackay Cos (7) Mack Cos pf (4) . ‘Mack Trucks (6). Magma Copper. Mallinson & Co. .. Man El Sup (4) .. Man El mod gtd 4. Manbat Shirt (3) Maracaibo Oil..... Mkt St Ry pr pt Marland Oil Mathieson Al Mathieson pf (7). Maxwell Mot A... Maxwell Mot B... May Dpt St (5)... Mex Seaboard(2). Middle StOll..... Midl'd Prod pf(8) M StP&SSM (4) . Mis Kan & Tex. .. MisK & Texpf-.. Missouri Pacific. . Missouri Pac pf.. Open. High. 6% 6 1% 9874 T2% 4% 94 80% 106% 21% 3% 95 95% 9 55% 0% 21% 146% 12 43% 221 45% 45% £0% 105% 4% 10% 281 444 5% 14% 13% 108 11 13 82% 40 35 35% 14 4% 13% 60% 27% 674 36 33% 32 68 23 % 105% 107 6% 191 23 22 5 4% 96% 43% 22% 86% Int Mer Marine. .._ 14% 83 46 5% 2T 12 48 20 25 19% 10% 34 39% 1% 110% 8% 43 ba% 54% 158% 15% 57% 85% 109% 64% 83% 27 21% 42 87% 83% 27% 4T% 130% 43 91% 49% 12% 8% 20 2 1% 33% 13% 397 15% 45% 6% 6 1% 98% 2% 48 94 80l 107% 21% 3% 95 95% 9 564 20% 21% 10% 73 119 102% 6% 645 100% 34% 43% 87 8% 121% 3% 831 Low. 6% 5% 1% 98% 2% 4T% 94 80% 106 21% 374 95 95% 9 654 89 21 10% 73 119 102 6% 63% 100% 3414 43% 87 B 121% 3% 82% 96 69% 214 28% 84 91% 85 103% 92 24 120 17 25 83% 110 20% 4 110% 108 12% 55 60% 29% 86% 32% 26% General Elec (8).. 230% 232% 11% 13 82% 40 35 36% 14 45% 13% 61% 2% 68 36 34 32 23 % [ 174 45 904, 102 9% 110% 19% 664 654 40% o 8215 LB 1464 12 434 218 45% 4d% 80% 1051 4% 105 28 444 6% 144 134 22% £4% 85 29% 72 84 4“ 27% 17% 2% 45 35% 5614 38% 54% 45% 39% 9 6T% 314 50% 6% 83% 120% 264 50% 88 29% 12% 57% 52% 24 16% 116% 122% 103 2% 1194 107% 1% 55 59% 28% 51 a2z 264 747 11% 51% 4 T6% 229% 1 82% 39% 35 14 THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. 68 68% 26% 28% 20 20 104 104 99 99 63% 653% 82% 33 38% 39 21% 22 80 80 141% 3% 3% 1% 13 4; 103% 89% 87 21% 19 275% 118 26% 4T% B5% 6 19% Mont Power (4) . Montgom Ward Moon Mot {3). Nash Mot (18%). Nash Mot pf (7). Nat Biscuit (3) Nat Dairy (3) Nat Dept Stores. . Nat En & St.. Nat E&Spf (7). Nat Lead (8). Nat R,Mex Ist. Nat Ry.M 2d pt. Nev Cons Cop. N Y Air Br (4). N Y Central (1) NYC&StL (6). Ny C&StL pf (6). NY NH & Hart... N Y Ont & West. Niagara Falls P Norf & W (18). North Anier (2) North Am pt (3).. North Pac (6)... Ontario Mining. Onyx Hosiery Orpheum (1%)... 18% Otis Elev (n) (4).. 64% Otis Elev pf (6) .. 109 Otis Steel pf. 48% Owens Bot (3)... 41% Pacific Oil (2) 4T Packard (1.20).. 10% Pan Amer (4).... 5l Pan Amer B (4).. 49% Park & Tilford... 28 Penn Railrd (3). Penn Seab Steel.. 1% Peop Gas Ch (7). Peoria & East. . Pere Marg (4) Pere Mar pf (5).. PhilaCo (4)..... Phila Copf (3 Phila& R¥I.... Phillips Pet (2)... Pierce-Arrow. Pierce-Arrow pt. Pierce Oil. . Pitte Coal (4) Pitts Ut pf 1.65. Pitts Ut ctfs 1.6: Pitts & West Va.. Packard pf (7). Postum Cer (4). Prod & Refiners Pub Ser N J (4) Public Serv rts. PubSNJ pf (8). Pullman Co (8) Punta Al Su (5) Pure Oil (1%) Ray Cons Cop Reacing (4) Reading rts. . Read 1st pf (2) Read 2d pf (2). Rep Ir & Steel. Rey Tob B (3) Rossia Ins A (§) . Roy D'tch (3.46).. Royal Dutch rts St Joseph Ld (2). 13 StLS'th pf (5) Savage Arms. Schulte (8) ... Seaboard Air L. Seab'd Air Lipf. Sears Roe & Co. Shattuck-Ariz. Sheil Un Ofl (1) Simms Pet. ... Simmons Co (1). Sinc Con Oil (2) Skelly Oil..... South Pac (6).... Southern Ry (5). South Ry pf (5).. Spicer Mfg. .. Std Gas & E1 3). St Oll Cal (2). StOINJ (1). StOI N J pt (1. Std Plate GI(75c) Sterling Pr (4). Stew't War (10).. Studebaker (4) Studebak pt (7) .. Sabmarine Boat.. Superior OUl. . Sweets Co of Am. Texas Co (3). Tex Guit (16% Texas & Pacific. . Tex & PacC &0. Third Avenue.... Timken ($3%). Tob Prod (6). .- Tot Prod A (T)... Transcont Oil Transue & W Un Bag Pa (6)... Un Pacific (10). UnPacpf (4).... Utd Cigar Stores. Utd Ry Invest pf. Universal Pipe Universal P p{(7). U S Cast Iron P U S Distributin U S Ind Alcohol. . U § Rubber. USRistpf U 8 Steel (16) U SSteel pf (7). Utah Copper (4).. Utah Securities Va-Caro Chem. .. Wwabash. . . ‘Wabash pL A. Web & Heilb (1) . Wells Far (2%) - West Penn pt (1)- West EIpt (1) ..~ West Maryland West Mary 2d pf. Western Pacific. . West Pacpf (€). West Un Tel (7). West Air Br (6).. West E& M (4).. Wheel & L Erle Wh Eag Ol (2) White Mot (4). Wickwire Sp Stl.. Wilson & Co. . Willys-Overland. Woolworth o (3).. 100 Wrig W Jr (3). Yellow Cab (5).... {Partly extra. 3P Dividend rates are the aunual cash intest quarte Cnless otherwise noted, dividends are not included. High. 2 extra Call Money 206,700 422,600 11lam.. ipm... 12M. 2p.m. Low. 67 26% 19% 104 99 534 32% 38% 21% 80 U1% 8% 1% 13 42% 108% 89% 87 21% 19 27% 118 26% 4T% 56% 6 19% 18% 63% 109 48 an 4% 10% 51 49% 28 “% 1% 97% 13 51 66% 4% 4% 48% 334 8 23 1% 58 46% 97 26 or Low. Close. 67w 2T% 19% 104 99 53% 83 89 22 80 141% 3% 1% 13 92 9 16 24% 70 90% 60% 9%, 23% 62% 1% 5 % 100% 28 able in preferred stock. s given in the above table ayments based on_the f-yearly declarations. speciai Last. 2 M2 HOURLY SALES OF STOCKS. 3 5. 29,500 10,600 SHORT-TERM SECURITIES. tions furnished by Redmond & Co.) (Quotations fur pa e Aluminum Co. of Amer. 7s 1025, s 1933 Americam Sugar 6s 1 American Tel. & Tel. 6a 1935 e 1920 Mil. & St. Paul 68 1 | . 1. & Pacific 5is 1926. Colt Gas & El. 1st 5s 1927 Du Pont 73s 1931.. Federal Sugar Ref. 6s 1833. Fisher Body Corp. 6s 1927 Fisher Body Corp. 6s 1928. Goodyear T. & R. 8s 1831 Great Northern 7s 1986. Gult Oil Corp of Penn. 5 Humble Oil 5%s 1932 Kenpecott Copper 78 1930. M., St. P. & 8. 5. M. 6%s 1031 Morris & Co. Ti4s 1330 New York Central 6s 1935. Oregon Short Line 45 1929. Penna. R. R. 7s 1930. Pure Oil 5%v 1925 Tidewater Oil 8ls g Western Union 6128 1936, Westinghouse B. & M. 7s 1331 Wheeling Steel 6¢ 1926. Corp. Can C_Rub pf. De B Dia Co. Har Rros pt. K&aHC& Mem P & L » EEXEL W K Pr & li'pf. Woods Mf Co.... W [RQAR 3 § Offer. 108% i 17 102% STRENGTH DISPLAYED IN FOREIGN BONDS Finland 65 Reach Highest Point of Year on Talk of New Loan to Aid Exporters. RAILS LEAD HOME ISSUES Supply of Funds Now Available Is Called “Colossal.” BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 24—The money situation continued to dominate the bond market today with conditions described by an eminent financial au- thority as “incredible” and the sup- ply of funds as %colossal” Time money was 2% per cent up to sixty days, freely offered at 3 per cent for ninety days, and into 1925 at 3% per cent. Tone Firmer Than Yesterday. Bonds were not_especlally active, but the tone was firm, more so than on Monday. Whenever any attempt was made to buy any large block of seasoned Issues it almost invariably resulted In a price advance. There was better buying today also of the old line first mortgage “legal for savings banks” railroad bonds such as New York Central 3%s on a 5 per cent basis. With every nited States government loan sell- ing to yleld less than 4 per cent the banks have been turning toward these gilt-edge rails. Issue Promptly Sold. Another striking indication of the strength of the investment demand was given in the prompt disposal to- day of the $10,000,000 Virginian Rail- way first 5s on a 5% per cent basi Part of the proceeds of this sale are to be used to pay off the railroad's notes to the government, on which it is now paying 6 per cent. In the foreign group the feature was the run-up in Finland 6s to a new high. These bonds were offered in October last at 90 and sold a point above the offering price today Czechoslovak $s and City of Copen- hagen 5%s were also in demand around the best prices of the vear. Tractions in Fine Demand. Among the tractions Detroit United 4%s were conspicuou n de- mand. Public Service of New Jersey 5s crossed 94. Hudson and Manhat- tan refunding 5s sold at $6 again. There were few developments of im- portance among the speculative rails Todav's new offerings included 00 City of Newark serfal 414s. % trom 3 to 4.1 per cent, and $4,000,000 Appalachian Power 6 per cent debentures, to yield 6.85 per cent Domestic Rails Leaders. By the Associated Press NEW YORK, June 24 —Bond prices fluctuated within narrow limits today with a firm undertone prevailing in the early trading. Foreign bonds again displayed strength. Reports in the financial district that an in- dustrial mortgage bank had been or- ganized in Finland for the purpose of obtaining loans in this market for exporting manufacturers imparted a firm tone to Finland 6s, which reached | the vear's highest el South American loans registered moderate improvement. Low-priced railroad issues led the domestic list in activ- ity VIRGINIA RAILWAY CO. PUTS OUT NEW BONDS $10,000,000 50-Year Issue Will Yield 5 1-4 Per Cent—Priced at 96 at Opening Today. By the Amsociated Prese NEW YORK, June 24—An issue of | $10.000,000 Virginia Railway Company first mortgage fifty-vear 5 per cent gold bonds, series A, due 1962, priced at 96 and interest, to vield about 5% per cent, heads the list of new offer- ings today. Others included $4.000,- 000 Appalachian Power Company & per cent gold debentures, series A, at 87, to vield 6.85 per cent and $2,000, 000 Power Corporation of New York 7 per cent cumulative preferred stock at 9, to yield more than per cent. Bond Forecdosure Put Off. The financial district understands that the committee for the first mort- gage bondholders of the Virginia- Carolina Chemical Company. which has been given the right to foreclose on the bonds, will not exercise this right. The action was taken, it was said, to protect the bondholders rather than fo liquidate their holdings. Plans for rehabilitating the company are awaiting the report of the engineers now studying its properties and pros- pects. . Railroad Report Belittied. Wall street rumors that the Cana- dian Pacific will shortly absorb its lines in this country, among which are the Minneapolis, St. 'aul and Sault Ste. Marie and the Wisconsin Central, are belittled in well informed rail circles Such a procedurc would place the Canadian Pacific as an organization under_the jurisdiction of the Inter- state Commerce Commission, the value of which, one banker points out, is reflected in the selling of Union Pa- cific_stock around 134 and Canadian Pacific at 146, despite the quality in dividend payments and larger earn- ings of the American system. —_— CHICAGO GRAIN PRICES. CHICAGO, June 24.—Corn made a decided fresh upturn in price at the outset today and besides touching new high record for the season, brought about a rally in the wheat market. Too much rain over the corn belt was largely responsible for corn strength. The early weakness of wheat was ascribed to the fact that predictions of a bullish crop re- port today at Winnipeg proved to be misleading. Chicago opening prices for corn % to% higher, with July, $8%a88% and September 86%as7, were followed by an advance that in some cases went 2'3 above yester- day’s finish. ‘Wheat traders today were inclined to minimize rust danger talk as be- ing premature. After opening % off to % up. July 1.13%al.13% and September 1.15%al.15%, the wheat market underwent a moderate gen- eral sag and then rallied to above yesterday’s final figures. Oats were governed by the action of corn. Starting at %al higher, September 43a433%, the market con- tinued to harden. Provisions were dull but firm de- spite lower quotations on hogs. n. High. Low. Py i 118 51, 1164 1143 118% 117 July ... Beptember LEAGUE TO AID AUSTRIA. NEW YORK, June 24—Finance delegates to the league of nations are expected soon to prepare for “equalibration” of the Austrian bud- get, according to cable advices issued by New York bankers. The recent money prices, it was reported. is being overcome, month-end settle- |AmT & Tl trbs ments on franc positions having been made without insolvency. D. C. TUESDAY, JUNE 24, 1924. [ovore v BONDS o ecmmes] Received by Private Wire (Bales are in $1,000.) UNITED STATES BONDS. {Fractions represent thirty-seconds. Example: 101-3 means 1013-32.) Sales. High. 240 101-7 36 102 219 101-5 283 102-2 682 102-5 236 1056-1 FOREIGN. Salea. High. Low. Close. 2 83 824 83% ‘;E 93% oo 102% 102% Austria 15 92 92% Belgium 6s 24 100% 100% Belgium 7%s. 22 105 105% Belgium 8s 4 103% 103% Berne 8s.. 16 109% 109% 39 92 92% 6 85 85 56 87% 874% 2 98% 98% 47 98 98 Canada 5s 1926, 16 100% 100% Canada b8 1931. 1 101 101 Canada bs 1952.... 38 102 102% Canada 5%s 192 7 102% 102% Chile 78 1943 21 9% 9% Chile 12 103% 103% Chile 1 106% 106% Chile 85 1946 z 106% 106% Chinese Gov Ry bs. 17 44 46% Copenhagen 6% 54 93% 94 Cuba 5%s... 37 95% 95% Czechoslovakia 8s. 30 97 97 108% Danish Munic 8s B. 108% 98% 98% 110% 111 8% 8% 95 95% 94% 944 101% 101% a1 90% 9 9l 98% 98% 101% 101% 90% 90% 100% 100% 781 784 9T% 9% 91 91 8% 78% 85% 85% 84% 84% 92 92 93% 93% 97% 9T% 97% 98 111% 112 84 Bi% 1% 1% €8 88 1013 101% 107% 107% 96 96 4% 94% 98% 98% 101 101 89 89% B4% 84k 104% 95% 113 60% 108% 103 Low. 1015 102 101-3 102 102-2 104-30 Lib 3%s Lib 1:?.( Lib 4th 43s . US4%s 1952, Argentine s Argentine Argentine 7s 37 94 102% 92 100% 105% 103% 109% 92% 854% 87% 99 98% 100% 101 1024 102% 97% 103% 106% 1067 46% 94 96% 9% 2 108% 18 98% 2 65 834% 43 95% 94% 101% 91 91% 99% 102% 907 100% 78% 974 91% 8% 85% 85% 92 93% 9% 98 12 84% T8% 885 101% 107% 96 95 98% 101 89% 84% 104% 96% 113% 60% 108% 103% 90 894 106% 106 MISCELLANEOUS. Am Agr Chem %8s 4 £6 AmChains?6s'33. 1 94 Am Repub deb 6s.. 21 92 Am SmIt&R 1st 5s. 23 93% Am SmIt&R 6s.... 22 105% Am Sug ref 63 100 AmT& Tecltr 4 961 100% 102 115% 904 Dutch E15%s Dutch East I 6s'47. Dutch East I 65'62. El Salvador §s°48. Finland s f 68 1945. Framerican 7%s. . French Govt 7%s. French Govt 8, Haiti 6s Italy 6% Japanese Japanese 1st 4%s. Japanese 6%s Jergens UM 65°47. Lyoné6s...... Marseille 6s. . Montevideo 7s. .. Netherlands 6s.... Norway 6s 1943. Norway 6s 1952. .. Norway 8; . Orient Dev deb 6s. Paris-Ly’s-Med 6s. Prague 7%s. Queensland 6s Queensland 7s Rio de Jan 8s 1946. Rio de Jan 8s 1947. Rio Gr Do Sul Sao Paulo City 8s. Seine Deptof 7s... 16 Serbs Crotes Slo 85106 Sweden 6s. ... Swiss 535 1946. Swiss Confed 8s Tokio 5s. . Ud Kingm Ud Kingm 5%s '37. Steam Copen 6s 5 Uruguay 8s 4 6 56 91 92 934 105% 99% 96% 100% 1017 115% 90% 96 96% 864 7% 100 984 99 100% 8814 95% 88 96 96 100% 1094 95 7% 994 101 100% 9915 99% 92% 88% 90% 94 99 105% 83 1084 105% 105% 91% 100% 100 9614 103% 115% 102 99% 964 94% 102% 84% 86% 93% 97% 8814 91t 974 17% 98 102% 104% 884 9Tk 101% 9915 111% 85 % 100% 96% 106% 108 9% 99 9% 93 102% 103% 94% 93% 98% 93% 93 93% 102% 994 8% 109% 84 191% 107% 100% 91% 99% 100 84% 97% 95% 104 9% 103% 108% 95% 113% 80% 100% 100% 104% 92% 62 30 9% 4 175 21 Am T & T deb 5%s. 56 AmT&Tcvs.... Am Water Wks 5s. Anaconda 1st 6s Anaconda cv db Armour & Co 4%s. Armour of Del 5133 Associated Ol 65. Atlantic Refin 6: Barnsdall s £ §: Bell Tel Pa 5s Beth Steel pm 5! Beth Steel rf 5s... Beth Steel 5345 '53. Beth Steel s { 65 Brier HSt 1st 5%s Bklyn Ed gen bs. . Bklyn Edison 7s D. Bush T Bldg 55 '60. Calif Pete 634s. ... Central Leather §s Chile Copper 6s. . . CinG & E5%s" Col Gas & El bs. Col Gas & El 5s sta Commonwth P 65 Con Coal Md 1st 5: Consumers Pow 5s Cuba Cane cv 7s 30 Cuba Cane cvd 8s. Det Edison ref 6s. Donner Steel 7s. . Du Pont de N 73%s. Dugquesne Light 6s. Est Cuba Sug 7%s. Empire G&F 7%s.. Fisk Rubber 8s.... Gen Refractres 6s. Goodrich 6%s. . Goodyear 8s 1931 Goodyear 8s 1941 Hershey 6s 1942. Humble O&R 5%s. Illinois Beii 1st 5s. Illinois Steel 4%s.. Indiana Steel 5s Int Mer Marine 6s. Inter Paper 5s'47.. KCP &Lt 5s A'52. Kan G & El 68 '52 Kelly-Spring 8s. Lackawa S 58 '50. Liggett & Myrs 5s. Liggett & Myrs 7s. Manatl Sug sf T%s Marland Ofl 7%s. . Marland Oil 8s '31. Midvale Steel 5s. Montana Power §s. Nat Tube 18t 5s. ... New Eng Tel 55 N Y Edsn 1st 6%s. NYG EL H&P 4s. NYG EL H&P b NY Tel 4%s. N ¥ Tel 63 '41. N Y Tel 68 '49. Nortn Am Ed 6 North Am 2d 6%s. Nor Ohio T&L 6s. . Nor States Pow 5s. Nor States Pow 6s. Northwst B Tel 7 Otis Steel 8s. . Pacific Gas & Ei PacT & T st 5s. Pacific T & T 5552 People's Gas 55 Phila Co 5%s'38... PhilaCoref 6s A. Phil & Rdg C&I 5s Plerce-Arrow “=.. Producers & 1.z 8 Public Service 5s Pub Serv Elec 6s.. Punta Alegre 7s. Sharon Stl H 8s. Sinclair Oil 7. Sin Crude Oil 5% Sin Crude Ol 6s. Sin Pipe Line 5s. South Bell Tel 5s. Southwest Bell 5. Steel & Tube 7s. Tenn Elec Pow Tide Wat OIl 6 Toledo Edn 1st 7s.. Unton Bag & P 6s... Unit Drug cv 8s USRublistrf5s.. U S Rubber 7 %! - Blanvkaninen 0 ey PR NNNRARRASWBARRNDS A~ wa 103 844 864 934 97% 90 1% .98 117% 98 102% 104% 88% 97% 101% 9914 1% 85 100% 96% 1056% 108 944 991 91% 93 102% 108% 94% 93% 984 93% 93% 93% 102% 99% 78% 109% 94% 101% 107% 100% 9214 100 100 84% 97% 95% 104 9TH 103% 108% 95% 113% 80% 100% 100% 104% 92% 62 80 Uy Warner Sug 75'39. 92 Warner Sug 7s "41. 101 J 98% 108% 69 98 84% 44% 48 101 95% SemGuami~ #aads © waRamalow & o - EZaaaal aduawnao wal8ao Vertientes Sug 7 Willys-Ov 6%s "33. ‘Wilson & Co 1st 6 ‘Wilson & Co cv 6: Wilson&C v 7% ‘Winchester A 7%: 101 101 YoungstnS&T6s. 6 95% 95% —_—————— 84% 45 da% 4R 47% The absent are never without faults nor the present without ox- cuse.—Benjamin Frankiin, Direct to The Star Office. RAILROADS. Atchison ad] 41 83% Atchison gen 4i 90% Atlantic C L 1st 4 91% B&Oprini%hs.. 99% 86% 89% 85% 102% 100% 83% 9% 69 9% 88% 113% 112% 80% 9815 102% 102% 8% 95 88% 96% 35% 9% 82 73 55% Low. 83% 920 1% 9% 86% 88% B5% 102% 100% 83% 99% 69 ki 88 B&OSWdivil B & O Toledo s Bklyn-Manhat 6i Buff R&PItt 4% Canad North 6%s.. 21 Canad North 7 Canad Pac deb Car Clinch & O bs, Car Clinch & O 6s. Centof Ga 6s. Central Pacific 48 Ches & O cv 4% Ches & O gn 4% Ches & Ohio cv 68 Chi & Alton 3% Chi B&Q 1st rf 5 CB&Q-1l3% Chi & E 111 gn b Chi Great West 4 C M & Puget Sd 4 53% Chi M & St P 48 '26. 79 Chi M&St P 48 '34 72 CM&StPdbds, 52 Chi M&St P cv 4%s 58 CM&StPgndths Chi M&St P rf 4%s ChiM & St P cv bs. ChiUn Sta 4%s Chi Un Sta 6% CCC&StLrfésA. Cleve Term §s Colo & Sou 4%s. Del & Hd 1st rf 4s Del & Hudson 5%s Den & Rio G cn 4s. D & Rio G Imp 6 D&RG1strf5 Det United 4% Erde 1st con 43 Erle gen 43 Erie conv 48 A Erie conv 45 B Erie conv 48 D. Erie con ext 7 Erie & Jersey Gr Trunk sf db 6s Grand Trunk 7s Gr North gen %s Gr North gen 78 Green B & W db B. Havana ERL&P b8 Hud & Man ref s Hud & Man aj 111 Central ref 4 11 Cent ret 565 Int Rap Tran 5s. Int Rap Tr 65 stpd. Int Rap Tran 68 Int Rap Tran Int & G Nor 1st 65 Int & G Nor af 6 Towa Cent rf ds Towa Cent 1st b: Kan City Ft S 4 Kansas City S 3 Kan City Term ds. Lake Shore 4s '28.. Lake Shore 4s'31 Lehigh Valley 6 Louis & N uni 4s. Louis & N 53 B Louis & Nash 7s BE% 90% 91 55% 59% 60 67% 1064 100 105% 112% 101 109 11 4% 5% €5 887% 102% 6214 62% 65% 87 97% 52% 16 61 80% 705 85 974% 95% 103% 9215 103 107% 59% 874 16% 81 59% 85% 101% 604 83% 98% 91k 93% 98% 105 76% 91% 101% 43% 734 85 83% 64% 87% 37% 62 50 90 119% 61% 84% 9475 105% 100% 964 2% 98y 9344 102 110% 109% 34% 6% 92% 81% 71 80% 914 82% 70% 9% 6% 65% 101% R4l 79% 9914 8% 684 63% 67% 9% 96% B4 89% 4% 893 101% 106% 84 B5% 4% 99 834% 924 B6% 9845 104% 103% 95% 92% 99% 93% 63% 88% 82% Manhat Ry cn 4 Mil EI Ry & L 5s. M & St L st ref 4s. MK &T st 48 MK & T adj 5 134 MK&TprinssA. 60 MK&T6sC. 6 Mo Pacific gn 4s...102 Mo Pacific 58 '65... 38 Mo Pacific 6s 2¢ NOTex&Minbs. 48 N Y Cent deb 4s. 6 NYCentribs.... 159 N Y Cent deb 6s... 37 NY¥CenLScld 1 NYC&StLdebis 2 NYC&StL6sA.. 1 New Haven d 45 '57 33 New Havencd 6s. 46 New Haven 7s. New Haven 7s fr. NYOnt& Wrefds New York Ry rf 48 NY Ry rf dsctfs N Y State Ry 4 NY W & Bos 4% Norfolk & W cn 4s. Norfolk & W cv 6s. Northern Pac 3: Northern Pac 4s. .. Northern Pac 5s D. Northrn Pacr i 61 Ore & Calif 1st Ore Short Liref Ore-Wash 1at rf 4s Pennsyl con 4%s. Pennsyl gen 433 Pennsyl gen 5s Pennsyl 6%s. . Pennsyl gold 7s. Peorfa & E inc ds.. Pere Marg 1st b: Reading gn 4%s Rio G West 1st Rio G Westcl 4s.... RIArk & Ldls St L IM&S 45°29. St L'S W con 4s'32. StP & KCShL 4%s. St P Un Dep 5%s.. San A & Arn P ds.. Seab'd A L 4s sta. Seab'd A Liref 4 Seab'd A L adj 5s. Seab’d A Licon 6s.. Sou Pacific 48 '29 Sou Pacific clt 4s. Sou Pacificre? 4s. Southern Ry &n 4s. Southern Ry 1st b3 Southern Ry 6s ct. 25 Southern Ry 6%s.. 10 Sou Ry Mobile 4s. 5 Third Ave ref 4 4 Third Ave adj 5s.. 21 TolStL& W 3%s. 5 Tol St L & W 4s. 4 Union Pac 1st 4s... 53 Union Pac1strf 4s 15 Union Paccv 4s...133 Union Paclstrfbs 5 Union Pacificcv 65 2 Virginia Ry 1st 55.165 VaRy &P 1st5 5 Wabash 1st 5 13 Wabash 2d 5s 15 Western Md 4 4 Western Pacific 5s. 10 West Shore 1st 4s. 1 Wheel & LEcn 4s. 12 68% 638% Whel ELErf4%s 1 63% 634 TOTAL SALES (Par Value): 11am.. 3414000 12noon 5462000 1p.m.. 7163000 2p.m.. 9622000 ® » [ TP - SeX 25 43 99% 102 107 84 5% 47% 99 83% 92% 87 98% 104% 103% 96% 92% 100 93% 63% 8% 82% 98% 104% 103% 95% 92% 100 93% 63% 88% 825% 68% 63% U. & TREASURY CERTIFICATES (Quotations furnished by Redmond & Co.) N er. Bid. 100 11-16 100 13-18 100 13-16 100 1516 100 15-16 101 116 101 101% 101% 101% i et 2% 1532 101916101 11.18 102 15-16 108 1-16 102 2932 108 1-16 514s September 15, 1924.. §i28 December 15, 1924 45 March 15, 1925. 43s March 15, 1925. 414s June 15, 1925. i35 December 15, 1925 4%s March 15, 1928. 434 September 15, i 43s March 15, 1827, 4348 December 15, 1927 WATERMELON ROW ENDS. Florida Fruit May Again Be Shipped Through Georgia. Special Dispateh to The Star. ATLANTA, June 24—Florida wa- termelons tled up for a time by a quarantine raised by Georgia on the grounds that straw in which the melons were packed contained cat- tle ticks, are now moving as a result of the W'“nto' a bond by the At. lantic Coast Lime and Seaboard Air Line railroads to indemnify Georgia If the state ia reinfested by, ticks. FINANC FAVORABLE WEATHER LOWERS QUOTATIONS Cotton Futures Sold on Better Crop Reports—Decline of Slight Proportions. By the Associated Press. NEW YORK, June 24.—The cotton market opened steady today at a deciine, 9 points on September, but generally unchanged to 1 point higher. Scattered selling was promoted by a favorable weather map and private crop reports pointing to an improved condition, but the market held steady on relatively firm Liverpool cables and renewed covering by July shorts. The feeling appeared to be that very few notices would be issued tomorrow and the firmness of July had a sus- tatning Influence on the general list which showed net advances of about 7 to 13 points in the early trading. Two private reports were issued both of which pointed to a condition of around 68 and an indicated crop of about 11.200.000 bales. Cotton fatures closed steads . 24.21; Murch, 24.45. NEW ORLEANS, June 24.—The cotton market opened fairly steady with first trades showing losses of one to two points. Liverpool was bet- ter than due and the local opening was a poor response to cables. After easing off a few points additional prices soon rallied slightly on uncon- firmed rumors of a bullish private ndition report. July ' 36 and October to 24.5 8 polnts above the previous close Overnight weather reports were favor- able. Better trade in dry goods was re- ported. Cotton futores closed steady at net advances of 11 to 15 points. Tigh 1o July BE1Es o October December January March . Opento ber.” 242 bid SPINNING ACTIVITY IN FURTHER SLUMP Census Bureau Cotton Mill Report Shows Conditions in May | Under Apri! | Cotton spinning activity declined | further during May, today's monthly report of the census bureau showing a reduction of more than eight and a half million in the number of active spindle hours for the month, as com- | | pared with April Active spindie hours for May to- taled 5,907,670,026, or an average of 156 per spindle in place, compared with | 6,769,711,331, or an average of 179 for April, this year, and 9,309,093.873, or an average of 249 for May, last year. Spinning spindles in place May 31 totaled 37,784,690, of waich 30,453,165 were_active at some time during the month, compared with 37.745,967 on April 30, this year, of which 31.871,665 were active, and 37,334,021 on May 31, last year, of which 35,390,137 were ac- tive. e e Washington Stock Exchange. SALES. Gas 55—$500 at 98% tal Traction—10 at 92, 5 at 923, 10 at 2%, 10 at 925, 10 at 92110 at 821, 10 at 92%. 10 at 92 ‘Washington Gias Light—10 at 48, 10 at 481, 10 at 48%. 2 at 45%, 10 at 45%, 10 at 485 Washington Rwy. & Elec. com —10 at 79%. 793z, 10 at 1, 10 . 10 at 7815, 77, 10 at 761, 10 2t 76, 10 Wi Lanston’ Monotype—1 at AFTER CALL. Potomac Elgrtric 6 1953—$1.000 at 1081, Potomac_Elfe. Coas. 55—$1,000 at 973 Capital Traction Co.—b at @2i4. Washington Gas 6s '33—$100 at 102 Money—Call loans, 5 and 6 per cent Bid and Asked Prices. BONDS. PUBLIC UTILITY. American Tel & Telga. 4s.. American Tel. & Telga. 4% Am. Tel. & Tel ctl. tr. Am. Tel. & Tel. conv. 6s. ‘Anscostia & Potomac bs. Anscostia & Potomac guar. C. & P. Telephone 5s. C. & P. Telephone of V Capital Traction R R City & Subaroan Te st Bl Potomac Elec. Potomac Elec. Cons. Potomac Elec. deb. 6. Potomac Elec. 6s 1853. Pot. Elec. Pow. g m._& b, Alex. & Mt. Vi h., Alex. & Mt. Vi . Bait. & Annap. ‘ashington Gas 5 ‘Washington Gas fs. 7 Wash. Ry. & Elec. 4s.... A MISCELLANEOTS. D. C. Paper Mfg. 6s. Riggs Realty bs (long) Riggs Realty 5s (short| Southern Bldg. 6las. ash. Mkt Cold S ardman Park Hotel 6s STOCKS. PUBLIC UTILITY. American Tel. rights. American Tel. & Telga. pital Traction. Washington_Gas. Norfolk & Wash. ‘ash. Rwy. & Elec. com. Wash. Rwy. & Elec. pfd Terminal Taxi com. Capital American Security & Trust. Continental Trust. Merchants’ Bank. National Savings and Trust.. Tnion Trust........... Washington Loan & Trust. SAVINGS BANKE. TITLE INSURANCE. Columbla_Title... t d Duteh Market com.. 0Old Dutch Market pfd.. Laoston Monotype. Security Stora Washington Market.. Tellow Cab. *Ex divide: BUTTER LOWER TODAY. CHICAGO, June 24.—Butter lower; creamery extras, 39% ; standards, 39% a391%; extra firsts, 38a39; firsts, 36% a37%; seconds, 34a35%. Eggs lower; recelpts. 33,369 cases; firsts, 25%3a28%: ordinary firsts, 24a 24%; storags packed extras, 27%; 26%. y IAL." RAILWAY COMMON SCORES NEW HIGH Stock Opens at 79 1-2 and Later Reacts to 76—140 Shares Change Ownership. MORE DIVIDENDS DECLARED U. S. Surplus May Reach Half Million for Fiscal Year. BY CHAS. P. SHAEFFER. Common stock of the Washingin Railway and Electric Com Washington Stock morning, opening at Exchan ty shares sold at thi quent sales of 10 and resulting in an easing-off 1o until the close when the sales recor ehowed a total of 140 shares changing hands, with the last transact) at _76. These closing sent a net loss of a the previous close Increasing activity with the resultant st succession of new h 1le lighting charges which | pending in District courts for will shortly be decided. It parent present stock believe the decision, handed down, will be fuvorabis t company, thus sustaining g plea that the present ¢ ing current is equitabl the courts do decide i contingent reserve fund 35,000,000, which ted since litigz stituted several 3 release: Many buyer mon issue, no doubt, expect of this fund will be o cash dividends to holder mon. Capital Traction slight advance ington Gas Ligh Bonds were | < Several Dividends Voted Directors of the Company have decl, lar quarterly cent and an extra di 1 per cent. payvable Ju holders of record Ju 30. pany has been on an annual b per cent, which was cent in 1923, which ra be maintained this ye Directors of the ¢ tional Bank ave di quarterly dividend payable July 1, to June 26. T annual ra The that stoc stitutior of 6 per District \'.Lpr usual quarterly di. per cent on June record June 25. The Firemen's Insura bas declared its sen dend of 3% per cent, to stockhoiders of re A new issue of $10, ginia Railway Compar fered for public & raise funds to loan made at 6 per ing the war. derwritten by the Na pany Half Billion Surplus E A surplus of more than lion dollars will be found a of the fiscal vear, June 30. it was es mated yesterday by Secretary Mell | Previous estimates on the surpius bat placed it at about $323.000,000. About $50,000,000 came from a casn payment by the British government which heretofore had been ust American government bonds to m its payments on the war debr. A other $55, me from the sale of railroad {ties, held from wa settlement days by the ministration. © March also exceeded expe payments June 15 figures show about paid in. The excess ir applied automatically of the national debt of a 000,000,000, Bankers at Convention. W. T. Galliher, chai board of the Federal-: | tional Bank. and Col. W | er. president of both th | Trust Company and the Savings Bank, are atter cratic convention in ) Institute James A. Council president of the Di Institute of Accoun Tyler is th C. Vaughan er. The following « of directors: Lester Prat cilor, Mr. Darby and Wil baugh. GRAIN AND PROVISIO™:. BALTIMORE, n cial).—Potatoes, h! 1.5 150 1bs.. 1.00a3.00 bbl., 1.25a3.00, 3.00. Beans, ba: 100, 2.00a6.00. 85. rrots crate, 50a1.25. 3.00. Corm, bu.. 40a5 Spring_onions, bu., 1.25a2.75. 3.00. bu., Tomatoes, crate, & Appies, 'packed. 75a1.50; box apples, fruit, box, 1.50a3 qt, 5al2. Blackberries, Cantaloupes, crate, 1.00a2.75 1b., 4ald. Gooseberries, Huckleberries, qt. & crate, P 2.503.75 75.00. Settling Prices on Grain. Wheat—No. 2 red winter 1.17; No. 2 red winter. garl mestic, 1.1614; no quota = on No. or No. 5 red winter, garlicky. none. Corn—Cob. new, 4.50 per barrel for yellow and 4.35 per barrel for whi No. 2 corn, N al new, 59. Rye—Nearby, no quotati rye, spot. 82% Hay—Receipts of top grades of timothy light mixed hay are light « market rules steady for these Common, grassy and weedy has Well as the heavy dark mixed are in ample supply and the movement is Very sluggish. _ i Quotations—No. 1 timothy. No. 2 28.00a28.50: No. No. 1 light clover mixed, No. 2 light clover mixed. 1 clover mixed, 26 2 0. straight rve, 00a 1 tangled rye, 15.08 17.00217.50, No. 1 0022750 00a26,00 0a27.00; N o. 24.00 per ton: No. a20.00; .No. 1 wheat, oat, 16.50a17.00. PLANS $2,000,000 BOND ISSUE. The Lehigh and New England rail road applied today to the Interstatc Cummerce Commission for authority %o fssue and sell $2,000,000 of gener: mortgage 5 per cent gold bonds, w which to reimburse its treasury money expended on_ betterment: The Buffalo and Susquehanna rail road today was tentatively valued $9.845,905 as of June 30, 1919, by commission. RAW SILK MORE BUOYANT. NEW YORK, June 24 (Special).— Trading in cotton goods again was light today, but the market remained steady throughout. Print cloth quo- tations stood at 9§ cents for sixty- four by sixty and 10 cents for sixty- eight by seventy-two, with soms second hands shading those figures The raw silk market was more bouyant, increases of 3 pound being listed in some grade Trading, however, continued light.