Evening Star Newspaper, June 26, 1924, Page 28

* U. S. STEEL IS LEADER IN MARKET ADVANCE ‘Wide Range of Stocks Reach Higher Levels in Trading Largely Professional. CHEAP MONEY AIDS RISE Recovery in Farm Prices Called Vital Factor. BY STUART P. WEST. Speciat Dispateh to Tre Star. NEW YORK, ' June 26.—Today’s market was the strongest that been in some time in the « that an unusually large num- fer of isues at one &tage or another \ere taken up. It was no longer a f contering attention upon @ articular groups. Interest was Tually shifting from one set of to anothe ult i Ve the Tmpression of a more gen- and better distributed upward Lendency Steel Dominates Market. Steel common dominated the mar- Ket, and under its lead the whole list took on greater confidence. The ad- Vince in United States Steel and the W rise nindependent like Bethlehem, Gulf | Was. in the na- | Hon of Wed reviews, T Hac " that the bottom of the sion which started in March hat, w iach of an improvement expected TIERL away, Vardening and new b ing in 4 little more frec rican Can Croses. bid up “omparatively | bus faldwin locc uy i The gover: 4 Compant seen across ,‘H ittle otive ag, an forward with Marland taking the at higher Oil drew tex at New High Marks. the Woolworth 2 new highs | in Brooklvn ferred, which ) for the d upon the at- yield under money where risks must specialties Arms made ractivene ket condition aken if the high ad all disappointment with the United been broken off. cent_dividend has be 1 for the current 3 Cigar Stores | The full &/ n declared £ but this | AmTel & Tel rts. FINANCIAL. NOTICE—Owing to New York wire trouble, due to last night's storm, the market is incomplete for the first hour. Open. High. 194 9% 6% 30 80 5% % 1% 99% Tow. Close. T9% 9% 7% 6% 30 30% 9% T9% % 6% W W 1% 1% 994 994 2% 8% 115% 115% 48% 49% 93% 93% 8 8 40 0% 28 304 109% 110% 114% 114% 161 161 1% 17% 3% 96% 96 9614 66% 90 22 4% 3% 404 103% 6% 12 4% 100% 35 1024 434 861 B4 121% 3% % 144% Adams Exp (6).. Adv. Rumley. . Adv.Rum pf (3) Alr Reduct (4). . Ajax Rubber, AlasGold Mines Alaska Juneau, All Am Cab (6). Allied Chem (4)., AIC&Dpf (7). Allis-Chalm (4) . Allis-C M pf (7). Am Aeri Chem, Am Beet Sug (() Am Bosch. Ani Can (16) . Am Canpt (7). AmC&F (12). Am Chicle \m Drug Syna. Am Express (§) Am & F P 250,(7) Am For P pd(7) Am Hide & L pf. Am Ice (73 Am Internati. Am Linseed pt. . Am Locomo (6). Am Metal (3). Am Radintor (47 Am Saf R (50¢). Am Ship & Com. Am Sm & Re (5). AmS&RDL (7). Am St] Favs (3) Am St1 F pf (7).. Am Sugar.. ... Am Sugar pr (7). Am Snmat Tob. . Am T & Tel (9). . 1% 99% T3% ' 115% 49% 93% 8 40% 30% 110% Z 114% 161 Am Tobac (12). Am Tob pf (6).. | Am Warer wka. | Am W W pt (6). Am Woolen (7)., Am Wool pf (7). Anaconda. Arn Cons & Co. Assets Realizat. Ase0 Drv G (5).., As DG 1st pf (6). Aso 01l (138).., AtT&SFe (6).. AT&SFopf (5). Atl Birm & At... Atl Coast L, (18). Atlan Fruit ef: AtGuli & W AtGuir& W1p Atlan Ref (4) + Atlan Ref pf (7). Austin-Nichols. Bald Loco (7) Bald Loc pf (7). Bal & Ohlo (5).. | Bai & Oh pf (). Barrsdall A. . Barnsdall B | Bren Nut (2.40) Beth Steel (5) Beth Stl pf ( Wor an trength of | nd the re- in Ad eley cted naturally with | in the agricultural | Thde some wn. The Harvester ibu onal tere vival of the improvement outlook C. & 0. Advancex 2 Pointx. | R held their plac y York Central made Teh ley was prominent. Ches peake and Ohio went forward nearly 2 points, and Northern Pacific, on talk of how its position had been affected by ¢ in farm prices, was ac- tively bought for a tim. oing through 24%. New Haven sold at| a new high for the year. The in wheat carried prices to the highest of the yi Combined with the remarkable jump of the last two days, corn and oats, s very a rhets s whe us farmers mong the These included of agricultural implement | sneerns and of | prospects for Market Mainly Professional. In today’s further upward drift the stock exchange registering its conviction upon three points—first, that nothing menacing to the busi- ness future would come out of the Democratic _convention: seecnd, that | many of the important indus- trialist | lines, the downward move- ment of the list few months was at an end. and third, that the recovery in | faym p was constant uming mere importance in its bearing both upon politics and upon trade | 1t was still. however, mainly a pro- feesional market. Following the new Ligh in Brooklyn Manhattan Transit rred, Interborough Rapid Transit were_bid up sharply in the st hour. There was also unusual tivity at higher prices in Fifth Av- nue Bus. An increase in fares is not vet seriously contemplated, but the action of the rapid transit com- mis: in allowing the New York and to raise its charges has rable sentimental ef- fect. ‘MARKET CLOSES STRONG. was Million-Share Day—Sharp Rise in Final Session. By the Associated Press, NEW YORK, June 26.—Stock prices surged upward today in one of tl most active trading sessions in wee A Lroad buyving movement carri mere than thirty stocks to new high records for the vear. With rushing to cover, bear ope failed to contest the advance. approximated 1,100.000 shares. The closing was Merchan- dise, leather and ¢ rrier shares were pushed up sharply in the final hour when the rise in leaders showed signs of abating. rs-Roe- buck bounded up 3 poin! ors Sales NEW shures 1 buoyant; YORK.—Stocks strong: steel 1d vigorous rally. Bonds terborough issues jump 1 ts. Foreign exchanges erling higher. Cotton rable crop reports. Sugar better demand for refined. foreign selling. CHICAGO.—Wheat higher; bullish cables. Corn firm; strength of cash situation. Cattle strorg; good ship- ping demand. Hogs active and higher. BOSTON STOCK MARKET. BOSTON, June 26—Following is a list_of today's highest, lowest and closing prices for the most active stocks dealt in here ower steady Coffee easier; Ami Tel & Tel . Am Wool Amoskeag 1ol Calu & Hecla Connor I T .. Copper Range Txland Creek . Isie Royale Mesican Investment . Mobawk .. Nat Leather New Naw T& NYNH&H North Butte Swift & Co . Swift Internaf . Tnited Mach Taited 18 Smelt . Br Man T pf (6). | BrklynUnG (4) Burns Br (10) | Burns Br B (2 Brown Shoe (4). | Butte C & Zinc. . Cal Pet (1%)... Com In Trpf (7). Callahan Z Lead. Can Pacific (10). Cent Leather Co. Cent Lea Co of. 1 Cen Rib M (2 Cer de Pas C (4). | Chand Mot (6).. Ches & Ohlo (4)... Ch&Opf (6%).. Chicago & Alton. Chic & Alton pf.. Chic & East Ill Ch & East Il pt... Chic Gt West. ... Chic Gt West pf. Ch Mil & St Paul. | Ch il & st P pr. | Chi & Nwn (4) Ch & Nwn pf (). ChPneuT (5). ChicR1& Pac. CRI&PpI (6).. CRI&PDf (7). C StPM&O pf (7) Chi Yellow C (4). Chile Cop (23%).. Cluett, Peab (5). Coca-Cola (7)... Colo Fuel & Iron. | Colo Southern. ... Col So 2d pf (4) Col G & k. (2.60). Com Solv A (4).. Com Solv B. Congoleum (3) Consol Cigar Consol Gas (5) ContCan (4)... Cont Motors (206) Corn Products. Cosden Co. Crucibie Stl ( Crucib Stl pf (7). Cub Am Sug (3).. Cuban Cans Sug. Cub Cane Su pI.. Cuyamel Fr (4).. Dan! Boone M (3} Davidson Chem. . Del & Hud (9) ... Del L& W (6)... Det Ed Co (8) ... Dome Mines (2). Du Ptde N (8) Eastman (16%). Eaton Ax (1.60). El Stor Bat (4).. End-John (5).... End-John pf Erie Erie 18t pf. Erie 2d pf. Famous P (8) Fed Lt & Tran Fed Min Sm F'd M &S pf (7) Fifth Av B (640). Fisk Rubber. Fleishman (3) Freeport-Texas. . Gen Asphalt. .. Gen Baking (6) Gen Cigar (8)... General Elec (8).. Gen EI spe (60c). Gen Mot (1.20) Gen Mot pf (6) .. Gen Mot db (6).. Gen Mot db (7). Gen Petm (2). Gen Retr (4) Gimbel Bros. Gimbel Br pf (7). Goodrich. Goodyear pf. Gray & Davis. Gt North pf (5).. Gr Nor Ore (3) Gulf Mo & Nor. Gu Mo & N pf (5) Guif St Stl (5)... Hartman Co (4) Hayes Wh'l (3).. Homestake( 7).. Houeeh'd Pr (3) Houston Ofl. . ... Hud Mot C (3) Hupp Mot C (1) Tilinois Cent (7). 1 Cent pt (6) ... Indiahoma Ref. Indian Motoreyc. Indian Refining. . Inland Stl (2%). Inspirzation Cop.. Interb Rap Tr... Int Bus Ma (8) Int Cement (49 Int Com Eng (2). Internat Har(5) . Int Mer Marine. . Int Mer Mar pf. Internat Nickel. . Internat Paper Int Pap pf st (6). Int Rys C Am (5) ItT&T(8).... Invincible Ofl. .. . Iron Products (6) Jones Bros Tea. Ttah Apex | \entora Off = dort Uy 344 0 Jordan Mot (3). Kan City Scuth. ., “THE Kelly Spr Tire. .. Kel Sp T pf (6). Kelly Springfd pf. Kelsey Whl (6) Keune Cpp (3). Keystone T & Kinney G R Co. Kresge SS (8) Kresge SSpf (7)., Kresge Dept Stor. Kresge Dep Stpf. Leh Val (3%). Lig & Myrs (3: Lig & Mvrs B (3) Lig & My pf (7). Lima Loco {4).. Loews Inc (2) Loft, Incorpor, Lorrillard (3). Loose-Wiles Bis. Louis & N'sh (8) Ludlum St1 (2). Mcintyre (76c) Mackay Cos (7). . Mack Trucks (6). Macy R H& Co. . Mugma Copper. . Mallinson & Co. Man EI Sup (4) Man El modgtd 4. Manhat Shirt (3) Maracaibo Oil. Marland Oil. Marlin Rockwell. Martin Parry (3) Mathieson Alkali Maxwell Mot A.. Maxwell Mot B. May Dpt St (5). Mex Seaboard(2). MexSeabd ctfs(2) Miami Cop (2). Middle St Oil. Midl'd Prod pf(8) Mis Kan & Tex. .. Mis K & Tex pf .. Missourd Pacitle. . Missour! P’ac pf.. Mont Power (4). Montgom Ward. M 0n Mot (3) Mother Lo(735¢). Nat Bispf (7 at Dairy (3). Nat Dept Stores. Nat En & St. Nat Lead (). Nat Supply (3). Nev Cons Cop NewO,T&M 2. N Y Air Br () N Y Central (7). Y C&StL (6). v C&StL pf (6). NY NH& Hart... N Y Ont & West. Niagara F pf (7). Norf & W (18) North Anser (2 North Am pf (3). North Pac (5).. Okla Pr& Ref. Ontario Mining. Onyx Hosiery. Otis Elev (n) (4) Otis Stel. . . Owens Bot (3) . PacG&E (8). Pacific O1l (2). Packard (1.20).. Pan Amer (4). Pan Amer B (4 Park & Tilford Par & Bing (2). Penn Railr'd (3). Penn Seab Steel.. Peop Gas Ch (7). Pere Marq (4)... Pere Mar pf (5) Phila Co (4) Phila&R&I.... Phil Mor (50¢c). Phillips Pet (2).. Pierce Oil. - Pierce Oil pt Pitts Coal (4)... Pitts Ut pf 1.65. . Pitts & West Vi P& W Va pf (6). Postum Cer (4).. Presa St1 C (4) . Prod & Refiners. . Pub Ser NJ (4).. Public Serv rts. .. PubSNJ pf (8). Pullman Co (8) Punta Al Su (5). Pure Oll (1%)... Ry Stl Spg (8) Ray Cons Cop. Reacing (4). Reading rts. Read 1st pf (2).. Read 2d pf (2)... Replogle Steel. .. Remington Type. Rep Ir & Steel... Rey Tob B (3)... Rey Tobpf (7).. Roy D'tch (3.46).. Royal Dutch rts. Rutland pf...... St Josepn Ld (2). StL San Fran... St L-San Fr pf. St L Southwest. . StLS'th pt (5).. Savage Arms. ... Schulte (8).... Seaboard Air Seab'd Air Lpt.. Sears-Roeb’k (6). Sears Roe Bf (7). Seneca Copper Shell Un Ol (1). Shell Un pf (6).. Simme Pet...... Simmons Co (1). Sinc Con Oil (2). Sin Con O pt (8) Skelly Oil. ...... Sloss-Sheff (6). ... So P Rico Su (§) South Pac (6).... Southern Ry (5). Soyth Ry pf (6).. Std Gas & El (3). St Ol Cal (2). StOINJT (1)... St Oil N J of (7) Sterling Pr (4). Stew't War (10).. Stromberg C (8).. Studebaker (4). Submarine Boat. Superior Ofl. Tenn C & Ch. Texas Co (3).... Tex Gulf (163%). Texas & Pacific. . Tex & PacC&O0. Third Avenue. . Timken (13%).. Tob Prod (6).... Tok Prod A (7). Transcont Oil. Transue & W (3) Twin City (4).... Underwood (3).. Un Pacific (10).. Un Pacpf (4)... Utd Alloy Steel. Utd Cigar Store: United Drug (6). UD 1stpf (3%). Utd Ry Invest.... Utd Ry Invest pf. U S Cast Iron P USCIPpt (1) U S Distributing. U S Hoft Mach. U S Ind Alcohol U S Rubber. USR 18t uf (8).. U S Smelting..... U 8 Steel (16) U S Steel pf (7). Universal Pipe. Utah Securities. . Vanadium Corp. . Va-Caro Chem. . Va-Caro Ch pf... Va Ry & Power. . Wabash. Wabash pt Web & Helld (1) Wells Far (2%). West Pen (4). West Maryland. . ‘West Mary 2d pf. Western Pacific. West Pac pf (€). West Un Tel (7). West E & M (4] Wheel & L Erle. . ‘Wheel & L Er pt. ‘Wh Eag Ol (2). 1 ‘White Mot (4). ‘EVENING -STAR, WASHINGTON, D. MANY NEW RECORDS | Open. High. Low. 1% 897 874 24% 21% 274 119% 26% 1% 6 19% 64t T34 an 91% 47 10% T0% 93% 63% 78% 85 56% 33% 117% 58 67 62 83% 9 5% 6% 38% 64% 31 9% 11% 34 61 89 5 28 50% 37% 135 T4% 22% 46 79% 48% 10 39 85 92 24% 17% 0% 27 77 20% 97% 121% 19% 28% 21% I 3% 55% 14% 44% 16% Al% 6% 9% 17% 24% 70% 108% 60% 9% 19% 24 54 124 11% 40 .40 34 34 81 81 9% 39% 1% - 1% 59% 59 400 890 110 110 50 48% 97% 9T% 46% 43% b5 65 B5% bB6% 121 121 60% 594 16% 614 86 62% 95 20 16 110 85 6274 27 21% 42 38% 843y 28U As-. 120 338 2o 41 66% 57% 116% 10% 24% 917 13 by 17% 94 13 . 28% 18% 86 19 57 0% 927 63% 3% 85% 56% 83% 17% 58 65% 62 33% 9 5% 6% 38% 64% 81 9 1% 84 61 89 5 28 66 58% 119% 1% 25 94% 115 % 17% 94 13% 24 18% 86% 19% 57 T0% 93% 64% . 3% 35% 56% 844 18 88 684 6214 84% 9 6 6% 39 66% 813% 9% 11% 34 61% 89% 5% 28 50% 50 87T% 37T% 135% 135 % 4% 22% 224 46 46 80% 79% 48% 48% 10 10 39% 38% 96% 95 2% 92 25 24% 17% 17% 0% 70% 28% 27 8% 17 20% 20% 99% 97H 121% 121% 19% 18% 28% 28% 21% 21% 1% . 14 3% 3% 5% 5% 14% 13% 4% 42% 15% 41% 674 9% 17% 23% 0% 108% 108 60% 9% 19% 24 24 54 83% L d NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office ose. 12% 40 3¢ 81 9% 1% 59% 400 110 46 7% 46 b6 B5% 121 6915 154 644 86 63 95 20 16 101 86% 633 21 21% 42 40% 34% 284 24 b53% | strong. The new IN.BOND MARKET Austrian Issues Lead Foreign Group to New High Levels on Present Move. BUYERS ARE MORE CAREFUL Speculative Rails Make Numerous Advances—Liberties Higher. BY GEORGE T. HUGHES. 1 Dispatch to The Star, W YORK, June 2 continued the day. One or made in all timo, buyers more_ careful .—Bond prices upward movement to- more high records were es. At the same seemed to be a little ir_their selections. In the first place, it was reasonable to expect a reaction after the sustained rise of the past three weeks and, in the second place, it was felt that the falling off ‘in railroad earnings and the unfavorable operating results of the industrials would sooner or later modify enthusiasm. New Records in Forelgn Group. In the forelgn group. new records were made by the Austrian 7s, which approached 93 for the first time this ye Tihs is a four-point advance from the low. The Dutch East Indies issues were especially active with gains of a half to a full point in all three maturities. French Cities 6s equaled their recent highs and De- partment of the Seine 7s did the same. Finland 63 also sold the recent h ax; A new Finnish loan is expected shortly. It is also now un- derstood that a portion of the $50. 800,000 Hungarian reconstruction loan to be underwritten in London will be offered in this market. The Amer- ican allotment is put at $10.000,000, the coupon to be 7' per cent and the offering price around 7% Speculative Railx Gain. There were numerous advances in speculative rails. Trading went on in all the New Haven issues in large amounts at the high quotations for the year. Another speculative mo: ment carried Chicago and Alton 3 up almost 2 poi Missouri Pacif general 4s saualed the bigh of the y an Francisco junfor liens cial favor New York, Ontario Western bonds w stron ie issues were inclined to drag and there was very little improvement in the St Paul _group. An®ng the tractions the feature wax active buying of Brooklyn hattan Transit 6s and of Hudson Manhattan refunding 3s. In the high- grade investment group United States Eovernment loans wer rally Righer. The wdvance wis largest in the tax-exempt 3i:s and in the -sec ond 4% libertys. The first mortgage rails were issues were again with special acti in_the 275 6x mna’the Nickel Plate 5is. Today's New Offerings. offerings included 81,000,000 Stock Land Bank 58 on per cent basis, §1,000,000 Ar- Central Power 6s of 1948 at au county, N honds, to vield ording to ma- ela: were 7 and favored, B New Deny “ 4 kan. par and $2,150,000 N; Y. 4% per cent serial from 3 to 4 per cent, a turity. It was unofticially reported that the new Atlantic Refin cent notes had been sold to the bank- ers on a 4.75 per cent basis. Washington S[tock Exchange. Capital Traction Gs—$300 at 971, Potomac_ Electric deb. 6s—$1,000 at 100%;, 000 at 1001 ax 6 '33—$1.000 at 102, $2,000 2. 10 at v“'-:' ias Light—21 at 48%:, 7 at 10 at 290, 6 at 290, Washington Gas Light—3 at 451, Money—Call loans, 5 and 6 per cent. and Asked Prices. STOCKS. PCBLIC UTILITY. Asked. vy 104 101 118 American Tel. & Telga. s American Tel. & Telga. 448, Am. Tel. & Tel. ctl. tr. 5x. 4 & Potomac T. Telephone s . < P. Telephone of Vi Capital Traction R R | city & Suburban Georgetown Gas 1 Metropolit Potomac Potomac Potomac Pot. Wash., P ash. Alex. & Mt. Ver. ctf. h.. Balt. & Annap. 5 Washington Gas 5s.. Washinzton Gas fs. Wash. Rwy. & Elec. MISCELLA D. C. Paper M?g. s Riggs Realty 5x (long) Riges Realty 3s (short) Southern Bldz. 813n. Wash. Mkt. Cold Storaze 5 Wardman Park Hotel 6s. BONDS. PUBLIC UTILITY. American Tel. rights. erican Tel. & Tel Capital Columbi Commer Distriet . 3 rmers & Mec derul-American . Lincoln National Bank of Washington. TRUST COMPANIES. SAVINGS BANKS. Commerce & Savings. East Washington. . Security Saviugs & Com. Seventh Street. Tnited States. Washiogton American Corcoran Fireren's - Natiopal Unfon. Columbia Title. Real Estate Titl MISCELLANEOUS. Paper pfd. erhamty: Transies & Storage. Mergentbaler - Lifiotype. Natl, Mtge. & Iov. pfd. 0ld Dutch Market com. 0ld Dutch Market Lanston Monotype. Security Storage Washington Market Yellow Cab. SEx dividend. —_— Wickwire SpStl.. 6% 6% Wilson & Co. & 4% Wil&Copf...... 18% 18% 18% 18% Willys-Overland., 7% Th 7% 7% Willys-Over pf.... 674 68% 674 67% Woolworth n (3). 104% 106% 104% 106% Worthington Pum 24% 254 = 24% 264 Wright Aero (1). 10% 10% 10% 10% WrigWJr(3)... 88 38% 88 88 Yollow Cab (5)... 53% 54% b53% 64 {Partly extra. $Payable in preferred stock. Dividend rates as given in the above table are the annusl cash psyments based on the latest quarterly or balfyearly declarations. Unless otherwise noted, extra or special dividends are ot Included. High. Low. Last. Call Money..... 2 2 2 HQURLY SALES OF STOCKS. 1lam. 615,600 1pm. 982,400 1% 4% C., THURSDAY, JUNE 26, 1924 | ON NEW YORK BONDS STOCK EXCHANGEI Received by Private Wire Direct to The Star Office, NOTICE—Owing to New York wire trouble, due to last night's storm, the market’ is Incomplete for the first hour. FOREIGN. Sales. High. 615 9d% . 4 102% .102 93% 21 100% 40 106% 6 104 2 110 25 92% 23 86 50 87 122 99 2 100% 102% 102% 28 103% 106% 107 45% 110 93% 26 97 109 98Y% 110% 88% 96- 95 102 9% 92% 99% 102% 90% T34 8% 97% 91% 79% 86 86 92 94 9% 98 11% 85 78% 99 89 1017% 96Y% 85 98 102% 90 85 8514 104% 9634 60% 109 1044 91% Low. Close. 93% 94% 102% 102% 92% 924 100% 1004 1064 106% 104 104 110 110 2% 92% 85% 854 86% 87" 98 69 100% 100% 102 102% 102% 102% 97% 98 103% 103% 105% 106% 106% 107 46% 45% 110 110 93% 93% 95% 96 96% Y6% 109 109 98 98Y% 110% 110% 88% 88% 95% 96 94y, 25 102 102 90% 9l% 92u 92% 98% 98% 102 102% 90% 90% 3% T3% 78% 7% 975 9% 91% Sln 9% 9% 8 86 85% 854 91y 91% 93% 94 97% 9% 98 98 111% lll% 78'4 28 89 101% 96% 95 98 90 85 Argentine 6537 Argentine 7s Austria 7s Belgium 63 Belgium 7 Bordeaux 6s...... Brazil 7s. Brasi] 8 Canada 5 1926. Canada 5s 1962 Canada 6%s 1929 Chile 78 1943...... 23 Chile 8s 192 o Chile 85 1941 8 Chile 85 1946, 2 Chinese Gov Ry 6s. 13 stiania 8s. 1 Copenhagen 6%4s.. 19 Cuba 5%s 4“4 Czechoslo 22 Danish Munic 8s B. 5 Denmark 6s. 19 Denmark 8s. Dutch E16% 156 Dutch East I 6: 49 Dutch East I 6s'62. 64 El Salvador 8s'48. 2 Finland s f 65 1945. 56 Framerican 7%s.. 15 French Govt 7%s.. 17 French Govt 8s. ... 60 Haiti 6s. .. 4 Holland-Amer £s.. 6 Japanese 4s. 8 Japanese 2d 414s.. 1 Japanese 6%s.....161 21 1 Jergenn U M 65°47. Lyon 6s 5 Marseille 6s. SaT Montevideo 7 5 Netherlands J 15 Norway 6s 1942, 81 Norway 6s 1952 2 Norway 8s. .6 Orient Dev deb 6s. 10 Paris-Ly’s-Med 6s. 49 Porto Algere 8s... 3 Prague 7is. v 16 Queensland 6s..... 10 Rio de Jan 85 1946. & Rio de Jan 8s 1947. 13 Rio Gr Do Sul 8s Paulo State 88 weden 6s. Swiss 545 1946. Tokio bs. Ud Kingm 5% Ud Kingm 5%38'37. zs Ud Steam Copen 6s 22 Urugzay 8s . 1 106% Zurich 8s . zn2 MISCELLANEOUS. Ajax Rubberss... 3 81 Am Agr Chem Tls 36 86 AmChainsf6s'33. 1 94% Am Repub deb 6 923 Am Smit&R 1st 935 Am SmIt&R 6s 105% Am Sug ref 6s. 100 AmT& Tcltrds.. 963 AmT& Tecltr55...87 100% Am T & T deb 5iis. 10214 AmT& Tev 6s. 115% Am Water Wks 5s. (364 Am Writ Paper 6s. Anaconda 1st 6s Anaconda cv db 7s Armour & Co 4%s. Armour of Del 5%3 Associated Ol 6s. . Atlantic Refin 5 Barnsdall s f 8s. Bell Tel Pa 5s Beth Steel pm Beth Steel %5 '53. Beth Steel rf 5s. Beth Steels f 65 Brier HSt 1st 5%s Calif Pete 6 Can Gen EI Central Leather &3 Cerro de Pasco 8s.. Chile Copper 6s. . . CinG & E5%s'62. Col Gas & El 5s. Col Gas & El 5s sta Commonwth P 6s.. Con Coal Md 1st 5. Consumers Pow 58 Cuba Cane cv 78 '30 Cuba Canecv d 8s. Denver Gas 5 Det Edison ref 6s.. Du Pont de N T3s. Duquesne Light 6 Empire G&F 7% Fisk Rubber 8s. Francis Sug T%s.. Gen Refractres 6s. Goodrich 6%s..... Goodyear 8s 1931.. Goodyear 8s 1341.. Hershey 6s 1942... Humble O&R 51s. Illinois Beil 18t 5s. Illinois Steel 4%s. Int Mer Marine 6s. Inter Paper 6s '47. KCP&Lt5s A'52. Kan G & El 6s'62.. Kayser (J) 78..... Kelly-Spring 8: Lackawa S bs ‘50 Liggett & Myrs 5s. Magma Cop cv 7s.. Manatl Sug sf 7%s Marland Oil 7%s.. Marland Oil 8 "31. Mexican Petrol 8s. Midvale Steel 5s. ... Montana Power 6s. Morris&Co 1st 4%s Nat Tube 1st 5s... New Eng Tel bs... N Y Edsn 1st 6%4s. NYG EL H&P 4s N Y Tel 43s. . N ¥ Tel 6841, N Y Tel 63°49. Norta Am Ed 6 North Am Ed 6%s Nor Ohio T&L 6s. . Nor States Pow bs. Nor States-Pow 6s. Northwst B Tel 7s, Otis Steel 8s. . Pacific Gas & It Pac T & T 18t 5s. .. Pacific T & T 55 ‘63 Phila Co 5%s'38 Phila Coref 65 A.. Phil & Rdg C&1 6s Plerce-Arrow 8s.. Public Service 5s..102 Pub Serv Elec 6s.. 9 Punta Alegre 7s... 95 Robins & M1st7s. 5 Saks & Cosf7s... 5 Sharon St1H8s... & Sinclair O1l 6%a... 14 Sinclair Oi17s. .... 23 Sin Crude Ofl 5%s. 18 Sin Pipe Line 5s... 3 South Bell Tel 5s.. 1 So Por Rico Sug 7s 3 Southwest Bell 55. 143 Steel & Tube 7s... 13 Sug Est Orlent7s.. & Tenn Elec Pow 68. Tide Wat Ofl 6%s. Toledo Edn 1st 7s. Unit Drug cv 8 U S Rub istrf U 8 Rubber 7%s U S Smelter és USSteel s £ 58 Utah Pow & Lt ba. Va-Car Chem 78 Va-Car Ch 1%8 w. Vertientes Sug 7s. Warner Sug 75 "41. Western Elec bs. ... Western Union 6% Westinghouse 7 Wickwire Spen Willys-Ov 6% Wilson & Co 1s! Wilson & Co cv Wilson&Ccvi%s. 1 48 48 48 Winchester A 7%s. 8 101% 101 101 Youngstn S& T 6s.22 95% 95% 95% —_— HUGE SUM FOR FARMERS. NEW YORK. June 26.—A dispatch from New Orleans today stated that a syndicate of eastern bankers, head. ed by the National City Company, will lend cotton co-operative associa- tions .$100.000.000 to_handle -this sea~ son’s cotton.crop, ., 81 854 944 924 9315 105% 9% 9619 100% 101% 114% 81 45 96% 97 B6% S a 102% 95% 104% 96% 97% 103% 108% 114% 81% 101% 101% 104% 93% 634 80 4% 101% 98% 111% 108% 67 21 ’l 19 25 6“‘ 18 38 3 5 16 11 33 11 10 1 48 27 21 3 9834 m 108 66% 28 85% 44 44 (Bales are in $1,000.) UNITED STATES BONDS. {Fractions ro Example: resent thirt -sec Sales. High. Low. Lib 3%s. . Lib 1st 4%s. Lib2d4% Lib 3d 4%s... US4%s1952. RAILROADS. Sales. High. Ann Arbor 4s. Atchison adj 4 Atlantic CLel 4 AtlanticCL 1st B&OSW divils Bklyn-Manhat 6 Buff R&PItt 41s.. Canada South Gs. Canad North 6% Canad North 7s. Canad Pac deb 4s. Car Clinch & O 6 Cent of Ga 6s Central Pacifi 17 Ches & Ocv 4lys.. 93 Ches & Ohlo cv 5s. 109 Ch! & Alton 3s.... 11 Chi & Alton 3%s.. 46 Chi B&Q Ist rf bs. . CB& Q-111dlv 4s. Chi & E1ll gn 58 Chi Great West C M & Puget Sd 4s. ChiM & St P 4s 25, Chi M&SL P 45 '34. CM&StPdbds... Chi M&ESt Pcv 4%s Chi M&St P rf 4%, Chi M & St P cv Gs. ChiM&StP6s... Chi&N W 6%s. we 10 N Chi& N'W1s Chi & Ry Chi R T Ul B g c8huaBalmwmm t 4 1&P ChiTH& SE ChiUn Sta 4%s. Chi Un Sta 6%s. Chi & W Ind cn 4s. Chi & W Ind 7%s.. Cleve Term Gs. Cleve Term 5% s Colo & Sou 4%s. Del & Hd 1st rf 4s. Del & Hudson 5%s 38 Den & Rio G cn 4s. 16 D & Rio G imp 5s.. 36 D& RG 1strf5s.. 108 Det United 43%s... Erle 1st con 4s Erie gen 48 Erfe conv 4s A Erie conv 4s B Erle conv 43 D Erie con ext 7s. Erie & Jersey 68 Gr Trunk sf db 6s, 27 Grand Trunk 7s... Gr North gen 5%s Gr North gen T Green B & W db B. Havana ERL&P 33 14 Hud & Man ref 5s. 101 Hud & Man aj 5s.. 87 111 Cent ref 58 '55.. 20 111 Central 5% 0 Int Rap Tran 55 a - Gmorere @ ® \Int Rap Tran 7s Int & G Nor 1st 6s. Int & G Nor aj 6t Towa Cent 1st bs Kan City Ft S 4s. Kansas City S 3s.. Kansas City S 53 Kan City Term ds. Lake Shore 4s '28.. Lake Shore 45 3. Lehigh Valley 6: Louis & N uni 4= Louis & N bs B Louis & Nash b%s. 12 Louis & Nash 7 1 3 Market St Ry Mil E1 Ry & L 5s. M & St L 1st ref ds. M StP & SSM cn 4s. M StP & SSM 6%s. MEK&T4sB... MK & T adj 5s MEK&TprinSsA. lS MK&T6sC.. Mo Pacific gn 4s. Mo Pacific 55 '65 Mo Pacific 6s. New Or Term 4s 2 Tex & M in §s. 96 YCentribs.... 95 ¥ Cent deb 6s... 160 YC&StL6sA.. 28 ew Haven d 4s '57 47 ew Haven cd 6s. 62 ew Haven 137 ew Haven 7s fr.. 208 Y Ont & Wref 4s 74 New York Ry rf 4s Y Rysadjbsct.. Y State Ry 4%s. Y W & Bos 414s. orfolk & W cv 6s. Northern Pac 3s Northern Pac 4s Nortnrn Pacr i 63 Ore Short Liref 4s. Ore Sht Licn 55 '46. Ore-Wash 1st rf 45 Pennsyl gen 4% Pennsyl gen 8s. Pennsyl 6%s Pennsyl gold 7 Peoria & E inc 4; Pere Mrq 1st 4 Pere Marq 1st 2 Reading gen 1s.. Reading gn 4143.. Rio G West cl 4s RIArk & L4%s.. St L IM&S 4529 St L IM&S R&G 48 StL&SF pl4sA. StL&SFprinbs. 44 StL&SF6%aD.. 11 StL&SFadj 47 StL&SF inc6 St LS W con 4s'32. 31 St P Un Dep 5% San A & Atn P és.. Seab'd A Liref 4s.. Seab'd A Liadj 5s.. Seab'd A L con 6s. Sou Pacific 45°29.. Sou Pacific ref 4 Southern Ry gn Southern Ry 1st bs Southern Ry 63 ct. 2 Southern Ry 6%s.. Sou Ry Mobile 4s.. Third Ave ad) 6s. . Tol St L& W 3%s. TolStL& Wds... Union Pac 1st Union Paoc 1strf Union Pac cv Union Pacific cv Virginia Ry 1st bs. Va Ry & P 1at bs... Wabash 1st 5s.... Wheel & LE cn Whel & LErf 4%s 6 bt 1 1 Low. 623 83% 90% 84% 91% 9% 86% 89% 85% 102% 100% 9% B0% B88% 100% 1124 23 112% 807 1024 1024% 884 95 9% 60 36% 99% 90% 2% 56% 54 8% 72 52% 58 52 852 95t 109% 107% 77 813 81 1% 117% 76% 103% TOTAL SALES (Par Value): 1lam.. 4726000 12noon 8418000 1 p.m.. 13 170000 Corp. riod. Rate. Am Bank Note. Am Water Wis g:v D. July Sep. Sep. July Aug. July July Dol £ "W coni Penna R R Pittsbg_Coal. do pt.. £ecLcoocEeRR O steady; high, 2; closing hld..uz; offered at, i e Aug. Aug. Aug. able. Aug. is 15 15 1 H 30 15 20 5 30 15 15 CALL MONEY RATES. NEW YORK, June 26.—Call money, 2% onds. 101-3 means 101 3-32)) Close. 205 101-20 101=11 10120 399 10210 1022 - 1129 101-18 101-5 146 102-6 102-3 1 Lib 4th 4145, . 2506 102-12 102: 511 105-8 104-29 102-10 01-18 02-6 02+12 05-8 Close. % | auly 13% 88 1034 | 71 60% £6 101% 61% £ 98% 81 91% 99 107% 102% 46% | 76% 87 85% €6% 377 24 62% 52 119% 61% 841 105% 9644 105 83 94 102% 110% 109% 35 81% T 95 9274 71% 80% 91ly 83% 70% E6% 9414 7% 674 85% 99% 1% 54% 59% 801 “6% 90 4% 100 101% 107 84 48 99K 83 92% 86% 98% 103% 963% 92% 99% 4% 63% 894 83 68% 63% 2 p.m.. 15 800000 low, 2; ruling rate, 2; last loans against accept- 1%; time loans easy; mixed collateral. atxty-ninety :.-y. months, a. o e commer- sial 2%a3%. FINANCIAL. JULY COTTON GAINS ON SHORT COVERING New Crop Months Held Back by Reports of Fine Weather + in Cotton Belt., By the Associated Prese. NEW YORK. June 26.—There was a renewal of covering by July shorts in the cotton market during today’'s early trading. A few additional notices were issued. but they evi- dently brought out no offerings of consequence and after selling at 29.10 at the opening, July soon advanced to 29.47, or 37 points net higher. New erop months were held back by the continued favorable weather news, but rallled on the strength of the July position and after opening 2 points higher to § points lower, the market soon showed net gains of 34 points on July and of 12 to 18 points on later delivaries Cotton futures closed burely steady. igh. Low July . Octoher Decerber .. Jnnuary NEW ORLEANS, June 26.—The cot- ton market ope irregular, first trades being 4 points up to 4 points down. July immediately developed a strong tone and immediat after the call that position shot up 46 points above the previous close on further covering by belating shorts and then eased-off about 14 poin from the top. October traded at 24 and December 24.37, 2 to 13 points net highe Another private bureau geported the condition at 68, A Cotton futires closed steady at 1 point up | 08: October, 24, id; March, CHICAGO GB,AIN PRICES. — Unsettled ntire up- board of trade weather grain belt turn in prices on th today =oon after the opening. Addi- tional moisture at this time was garded as certain to make wor: bad condition of corn a ts crops in particular. 4 a bullish Canadian ed also to lift wheat values. The most active trading was in corn, opening prices for which were un- changed to half cent higher, J v September 51%,a32 and were quickly followed by a jump of as much as 2 cents a bushe In wheat there was e onsiderable f pening deats ha Seprefnblr 1116l 1 . ket scored material further gains | Shorts and investors bought oats, opening the market % to 2 higher. nber 45a433%. Further upturns op report tend- were responsive to the n parts of Can urg additional rise ada, brought about in prices here, De reaching the highest points of the season. WHEAT— Open. High. Juls ... LB0 11T Eeprember .10 116% 1IN December L 119% 12 RN 931 September December OATS— | Juiy | Reptember - RN ARD - 5 10.92 Septemier 1123 1 RiRS— 990 9.95 Septemier 10,05 GRAIN BALTIMORE 1 1) —F | s0a1. potatoes. dozen, 1.00 3.00: beets, bage, bas! 3.0024.00; eggplants, crate. 1.50a2.50: kale, bushel, 40a60; bushel, 75al.50; lima bean 3.50a4.00. spring onion: bushel. 1. 0a3.00: radish 1.00: spinach, bushel, squash, basket, 1.50a2.00; toma- crate, 0. 0. Apple: packed, barrel, bushel. 15al.50: grapefruit, strawberries {berries, quart, crate, 1.00a. gooseberries, ‘r quart. : pin P 2 l«rmtlun& hundred, 00 60490.00. Settling Prices on Grain. No. 2 red winter, r?d winter, garlicky, i no quotations on inter, garlick of nearby at 1.20 pounds, barrel, 1.50a4.00; asparagus, 00: beans, bushel, 1.00a hundred. 2.00: 90: carrots, i 50al1.2 . crate, Tettuce, bush hundred, 0; pep- |dred, 1 6 box, 1 rantaloupes. pound, 3al huckKleber- Sa cherrie domesti No. 4 Sales per bushel. Corn—Cob, new, 5.00 per barrel for llow and 4.85 per b rrel for white; 96: No. 3, 93; track 2, ‘at 1.06. Tot one. . 2 white, §5; No. 3 white, earby, 75 and 8§0; No. Receipts, 100 tons. The bulk sale here at present con- sists of low grade and undesirable hay, for which there is ver: demand. For the better grades of timothy and light clover-mixed hay there is no surplus and prices remain steady. under a fair demand Quotatiol .1 ' 0a28.50; No. 3. rye I clover mlxed "S u0321 00 24.00a25.00. V- 1 straight rye. 24.00 per_ton; No. 1 tangled rye, 1 wheat, 17.00a17.5 o U. 5. TREASURY CERTIFICATES (Quotations furnished by Redmond & Co.) September 1 10 Beceranee 45 March 1 4%s March 15, 43%s June 15, 4%s Decembe: 4% 4%s 435 48 3las December ' 15, 1027 —_— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. today. London, pound Moatreal, doliar .. Paris, franc Brussels, franc Berlin, foark Rome, lira . Zurich, franc Athens, drachm Madrid, pesets - Vienna, frown Budapest, crown Stockholm,” crown By the Associated Press. NEW YORK, June 26.—Foreign ex- changes_ irregular. Quotations (in United States dollars): Great Britaln, demand, 4.33 3-16; cables, 4.33 7-16; sixty-day_bills on banks, 4.30 15-16. France, demand, .0529; cables, .0530. Jtaly, demand, 04321 cables, .0433. Belzium, demand, .0460; cables, .0461. Germany, demand (per trillion), .23% Holland, demand, .3760: Norway, mand, .1352; Sweden, demand, 265 Denmark, demand, .1664; Switzerland, demand, .1774%: Spain, demand, .1346; Greece, demand, .0173; Poland, de- mand, 019 15-16; Czechoslovakia, de- mand, .02941: Jugoslavia, demand, .0115%; Austria, demand, .000014 % Rumaria, demand, .0043%; Agenllnl, demand, .3254; Brazil, demand, .1087; nkll.l demmd. 41 Montreal, [ Ayt CITY BANKS EXPECT THREE-DAY HOLIDAY Plans Under Way for Closing Doors on Saturday Following Fourth of July. NEW BONDS ON MARKET Treasury to Redeem $18,489,900 Bonds Issue Dated 1924 BY CHAS. P. SHAEFFER A special meeting of the District o Columbia Bankers' Association wil! be held this afternoon at 4 o'clock ar itse headquarters for the purpose of considering the questic of remain- ing closed from the close of busi hours on Thursday, July 3, until the opening of the usual business hour on Monday, July In the opinion of Frank J. Hogan counsel for the association, bankir hours and banking days are not tablixhed by law, but by the banks 8, ich, in ki Judgment it it entirely legal for the bank to take this holiday, provided reason | ble public notice thereof be It will undoubted! Hogan points law two and one: od involved in this qu holidays within the D < the Fourth of Jul out that under the the | 1047 | | 1924 | ter 2| Company and the half day b ernoon. Negotiabl .(ux due at ¥ | would be presented fo ding bu on of \ r. Hogan set { ome [ hive & Fight to transact their bus - j ness with banks during the us | ness hou practice have become fixed the Banking hours and bankin he banks themselves. ws or the resolutions of the respective ban in this trict establish the hours and th during d upon which busine be transacted. ‘The courts e held that it within the power of banks to estab- lish the time within which the transact business, There can be no doubt Lut that it is entirely compe tent for th banks to change their banking hours and even lo provide | Within rewson. times during whi | the banks shall be closed It be that liability would follow in t event o floss occasioned by the fa ure of a bank to be open for transaction of business on ordir of th ing hours when previous notice h not been du nd properly given (hv igtention of the bank to close “In"m yopinion, however, if reason notice given in th of the city of the | abt is of the banks miving » remain closed all day . have a lega |5, they would not onl | ri ) close on that day, but no tade by any one asser | loss by re 1 of such closing ¢ | egally sustained Haynes Takes Action. Hary V. Haynes, pre | Washington Clearing House tion, today advised that memb | his “association, which includes every national institution in the city, wiil close their doors the entire day of July 5. The resolution adopted learing members at a meet- last night the member D. C., Clea it that banks of the Washington ing House Association recosnizing the obiization to their employes, and with a feeling of assurance that the bank- ing public will be glad to give acquiescence to the thought and mak» such special arrangements in connec- tion with their needs as may lea inconvenience them in order to let t plan he effective close | doors for b 1924, and shall join | an advertisement to be ins: spective Telephone Income for May. Net income of the Chesapeake and Potomac Telephone Company for May, 1924, amounted to $119.134, or appros- | imately a gain of $11,000 over the cor- responding month of last year. Operating revenue of this utility amounted to $502,934, with expenses totaling $346.311 The net operating income of $118.136 was swelled to the | extent of $998 derived as income from other sources Net additions to plant and equip- ment during the first five months ¢ totaled $708.111, the rep shows. The new offering of Washingtor Railway and Electric Company 6 per cent bonds today found the invesi- ment market a receptive mood with the consequence the issue was quickly absorbed It was sold at 99 and accrued to yield more than 6% De | cent. They mature November 1. 133 { with favorable redemption privilege Today’s Local Market. exchange trading was fea- tured by sales of forty shares of Na- tional Savings and Trust Company stock at 400. This issue heretofore has been relatively inactive. Other transactions were confined to favorite issues at unchanged prices. Local Dividend Declared. At the regular meeting of the board, held Tuesday, June 24, the di- rectors of the John H. Wilkins Com- pany declared the regular semi- nual dividend of 4 per cent on outstanding preferred stock. and $1.50 per share on the outstanding none par common stock, pavable Monday June 30, 1924. Treasury to Call in Bonds. vesterday an- nounced that the Tre: ry will call for redemption and payment on the first optional payment date, Febru- ary 1, 192 the entire outstanding issue, ‘consisting of $118,459.900 of the 4 per cent loan of 1925. The greater part of these bonds are now used to secure national bank circulation. Financing Authority Given. The Virginian Railway Company was authorized by _the Interstate Commerce Commissfon today to pledge $4,500.000 of first mortgage fifty-vear gold bonds and $1.500.000 of "Virginia and Western Railway first mortgage 5 per cent bonds, which have been guaranteed as to principal and Interest, with the National City Bank of New York as security, for two short-term loans of $4.000,000. The Carolina, Clinchfield and Ohio Railroad Company today received au- thority from the Interstate Commerce Commission to issue $1,000,000 of equipment trust certificates, to be sold at not less than 96.5 per cent of par. =gt oo SHORT-TERM SECURITIES. (Quotations furnished by Bedmond & Co.) 008, — Bld. Ofter Aluminom Co. of Amer. s 1925. 108 1081, Aluminum Co. of Amer. . 105% American Sugar 6s 1937 © 1003 ‘American Tel. & Tel. 6a 1925.] 1148 Ansconda Copper 6s 1920.....0 Angio-American Ol Tis i Associated 6 1 Bell Tel. of Canade Canadian Northern 5igs 1924, Central of Georgia 6s 1929. Central Lenther Gs 1925... Chi., Mil. & St. Paul 6s 1934 Chi., R. T, & Pacific 5%s 182 Colimbia Ges & EL 1st 5s 19 Du_Pont Tiss 183 Fisher Body Corp. Goodyear T. & R. Gulf Oil Corp. ot P: Humble 0Oil Kennecott Copper Ts 1930, M., St P, & K. 8. M. 814, Morris_ & Co. Tius \M New York Centra Oregon Short Line l- 1 Penna. R. R. 1830. s lY"‘ Switt & Tidewater Oil !H;,- n:u Union Tank Car 7s 1830. U. 8. Rubber 734s 1980. ‘Western Union_$i%s 1936, Westinghouse E. & M. Waealing Bieel