Evening Star Newspaper, July 9, 1924, Page 24

FINANCIAL, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office FINANCIAL, GREAT STRENGTH | Coxve o BONDS srocxexemencs]| | FSS CORN LIKELY |D. . BANK DEPOSITS Received by Private Wire Direct to The Star Ofiice. Bl STOCKSSLOW 1P ON DAY'S TRADING Heavy Selling Calls Halt in .General Advance—Some - Shares Gain. BY STUART P. Special Dispatch to The Star. NEW YORK, July 9.—The stock market went higher at the outset to- day, but with the course of the first hour ran into profit taking in suf- ficient volume to bring about a par- tial reaction. Operations for the rise kept on during the afternoon in particular stocks, but in the general st the feeling predominated that the upward movement had gone far enough for the time being, consider- ing the uncertainties in the outside sitaation. Public Utilities Favored. Public utilities issues were again fa. vored, as they have been for the last month or more. Attention was drawn some time ago to what appeared to be reliable evidence that the same people who had made the big money in Ame: can Water Works were back of the buy- ing in United Railways Investment. It med, therefore, more than a coin- cidence that the further extraordinary Jump in American Water Works and in the related West Penn Company shares should have been at once attended by sharp upbidding of United Railways In- Vestment stocks. Philadelphia Company, belonging to the U. W. group, made a new high at 50, and so did Pittsburgh Utilities preferred, the income of which company is entirely derived from divi- dends on the Philadelphia Compan Brooklyn Union Gas made a new top around 70. Usual Leaders Waver. As the regular leaders, like U. S. Steel common, Baldwin Locomotive and American Can, began to waver, attention was turned more to stocks of “the special type. Among the features in this section were U. S. Industrial Alcohol, Allied Chemical, Cemmercial Solvents, Davison Chem- ical, Electric Storage Battery, Toba ©o 'Products, Savage Arms, Texas Gulf Sulphur and Kres Depart- . The formal placing of Woolworth stock on an an- s had been expected, and off sharply on the WEST. the new nual $3 b; the stock sold news. Railway stocks were strong again, reflecting in part the latest develop- ments at Madison S arden. Louis & Southw ell above its previous Edwin Gould, the president of the company, vas quoted as saving that earnings ar would amount to 10 per cent on the common shares against 14 per cent last year, but the street was quite satisfied that there should ave been no more of a reduction. Southern Railway common and the Seaboard Al ine lssues bettered their previous highs. The advance in the northwestern rails, based upon the improvement in farm prices, appeared to have been checked. Call Money Rate Laser. Bonds were strong, while in stocks realizing sales in some directions bal- anced fresh buying in others. Pos- sibly some impulse in the investment quarter came from the lowering of the call money renewal from 2% to 2 per cent, although it was perfectly well understood that last week's very slight increase was due to the tem- porary withholding of funds needed in the semi-annual settlements. There are two ways in which the investment market ’ will eventually encounter its check. One is through a trade revival which would draw the present redundant money supply into commercial channels. The other fs through the piling up of new security issues in quantity sufficient to absorb capital pressing for employment. As matters appear now, the latter of these two factors has already come into play, and the other will be felt later on if everything goes well, from & conservative standpoint, in the Ppresidential campaign. Heavy Selling in Sinelair. Special selling occurred in Sinclair Oil because of the doubts regarding the safety of the present $2 annual dividends. It has been rumored for some time in Wall street that the dividend would be either cut in two or passed altogether. A hew high price for Texas Gulf Sulphur was an incident among the specialties. Since it was reported here that banking interests affiliated with the company were anticipating an increase in dividends, the stock Tas been advancing slowly, fitting in with predictions that the next dis- bursement would be at the rate of $7 annually instead of the current $6 regular rate. CLOSE IS IRREGULAR. -~ Price Movements Confused in Last- Hour Trading. By the Associated Press. NEW YORK, July 9.—Considerable irregularity developed in today’s stock market as a result of the at- tempt of professional traders to bring _about a technical reaction. Good buying support, however, was most issues, with the public utilities, chemicals and low- priced rails recording substantial gains. Sales approximated 900,000 shares. The closing was irregular. Con- trasting price movement featured the late dealings. West Penn Power ad- vanced 6% points afd Wilson & Co. preferréd dropped 7. Markets at a Glance New York—Stocks irregular. Bonds firm. Foreign exchanges mixed. Cot- ton higher. Sugar lower. Coffee easy. ~Chicago—Wheat firm. Corn strong. Cattle steady. Hogs higher. A’U’TO_'BUYING PICKS UP. SPRINGFIELD, 11, July 9 (Special). —There has been-an increase in auto- mobile buying throughout the state since July 1, purchasers having waited to take advantage of the half-yvearly license rate, which was effective on that date. provided for —— BOSTON STOCK MARKET. BOSTON, July 9.—Following is a Ust of today's highest, lowest and closing _prices for the most active stocks dealt in here: ~« High. 123% ] Low. Close. Am Tel & Tel... 1231 “Am Tel & Tel rts. 3% Am Wool Amoskeag . Arizona Com Boston- & Alba Toston & Maine. Boston-Elevated Calu Ariz Calp & Hecla. Connor J T Copper * Range Island_Creek ‘pfd Iue Royale .. Libby_McNeil ‘& Libby. “Foew's Theater . st | T Adams Exp (6).. Alr Reduet (4) Afax Rubl 3 All Am Cab (6).. AlasGold Mines Alaska Juneau. .. Allied Chem (4) . Allied Chm pr (7). Allis-Chalm (4)., Am Agricul Chm, AmAgr! Chem pt Am Beet Sug (4) Am Bosch. Am Can (16 Am Car & Fy AmC & Fpf (7). Am Chain A (2).. Am Chicle...... Am Cot Ol cf. .. Am Drug Synd.. Am Express (4 Am & F P 25%(7) Am For P f pd(7) Am Hide & Lea. AmIce (T5...... Am Internatt Am Linsced. ... Am Lingeed pf Am Locomo (6). Am Loco pt (7). Am Metal (3).., Am Radiator (4) Am Ship & Com. Am Sm & Re (5). AmS&RDf (1), Am Snuff (12) Am St] Favs (3 Am StI F pt (7).. Am Sugar....... Am Sugar pf (7). Am Sumat Tob. . Am T & Cab (5). | Am T & Tel (9).. AmTel & Tel rts. Am Tobac (12).. 4mTobB (12).. Am Tob pt (6) Am Water Wks. . Am W W pf (5). Am W W 1st (7). Am Woolen (7).. Am Writ Pap pf. Anaconda g Ann Arbor,pf. Arn Cons & Co. ... | Asso Dry G (5).. A0 Ol (134) . AtT&SFo (6).. AT&SF ot (5). Atlan Fruit cfs. . Atl Coast .. (13). AtGuIf & WI... At Guif & W I pt Atlan Ref (4). Austin-Nichol Bald Loco (7).. Bal & Ohlo (5) Bai & Oh pf (4). Bk of Com (116) Barnsdall A. Bayuk Cigar. . B'ch Nut (2.40) Beth Steel (5). Beth Stl pf (7)... Booth Fisheries. . Br & Edison (8).. Brk-Man Tran. . Br Man T pf (8). BrklynUnG (4) Brown Sh pf (7). Burns Br (10)... Burns BrB (2).. Butte C & Zinc... Cal Pet (1%). Callahan Z Lead. Calu & Ariz (2).. Calumet & H 50c. Can Pacific (10). Case Threshing Case Thrs'g pf. Cent Leather Co. Cent Lea Co pf. | Cerro de Pasco(3) Certain-Td Prod. Chand Mot (6) Ches & Ohio (4) Ch&Opf(6%).. Chicago & Alton. . Chic & Alton pt. Ch & East 11l pf. Chic Gt West.. Chic Gt West of. Ch Mil & St Paul. Ch Mil & St. P pf. Chi & Nwn (4). ChicR1 & Pac. CRI&Popf (6).. CRI&PDL(T).. Chi Yellow C (4). Chile Cop (2% CCC&StL(5).. Cluett, Peab ‘5). Coca-Col2 (7).... Colo Fuel & Iron. Colo Southern | Col S0 1st pf (4). Col G & E (2.60) Col Carbon (4) . Cora Solv A (4).. Com Solv B. | Congoleum (3) Consol Cigar. #on Cigars pf(7). Consol Gas (5). Consol Textile. Cont Can (4).... Cont Motors (20¢) Corn Products Cosden Co. . Cosden pf (7) Cracibie St) (4 Cub Am Sug (3).. Cuban Cane Sug. Cub Dom Sugar.. Cub Cane Su pf.. Cuyamel Fr (4). Dan! Boone M (3} Davidson Chei Del & Hud (9) Del L& W (6)... Det Ka Co (8) Dome Mines (2) DuPtde N (8).. Duq Lt st pf (7) Eastman (16%). Eaton Ax (1.60). El Stor Bat (4). Eth Branting pf. End-John (5) . Erfe Erle 1st pf. Erie 2d pf. . Fairbanks (2.60).. Famous PI (8) Famous P1 pf (8). FdM&Spf (.. Fifth Av B (64c). Fish BO pf (8). Fisk Rubber. Fleishman (3 Freeport-Texa Gen Asphalt...... Gen Cigar (8)... General Elec (8).. Gen El spe (60¢c) . Gen Mot (1.20) Gen Mot db (6).. Gen Petm (2). Ginbel Bros. Gimbel Brpt (7). Gold Dust. Goodrich. ' Granby Consol. Gray & Davis. ... Gt North pf (§).. Gr Nor Ore (3). Gulf Mo & Nor.... Gu Mo & N pt (5) Gulf St Stl (5)... Hartman Co (4).. Hayes Wh'l (3).. Homestake( 7).. Househ'd Pr (3).. ‘Houston Ofl. Hud Mot C (3 Hupp Mot C (1)... Tllinots Cent (7). 11 Cent pf (6) Indep Ol (1) Indian Motorcye. Indian Refining. , Inland Stl (3%). 1Int Bus Ma (8). Int Cement (43 Inter Nick pf (6). Internat Paper. Int Pap pt st ( IntT&T(6).. Invincible O, 1iron Products (6) . 116 ). 166% 166% . #22% . 143 82 824 9 79 7 7 9% 99% % 1% T5% 116% 116% 53k 63% 11% 11% 33% 34 41 41 80% 30% 116% 123% 128% 22% 2% 20 23 124 12% 4 4 106% 106% 99% 101 100 100% 9% 9% 89% 89% 22% 16% 16% 34% 84% % 76% 119% 119% a2 424 107% 107% 12% 124 66% 66% 100% 1013% 148 35% 35% 103 103 44% 444 8% 874 o) 9% asy 384 123% 123% 4 4 145% 1424 105 104 9414 9814 2% 3 145% 1425 105 111% 95 98% 2% 31 123 65% 78% 48% 85% 59 407 4% 63% 56 48% 17% 72 69% 3% 54% 634 84% 28% 92 h5% 30% 13% 4% 61% 57% 17% 52% 116% 122% 105 16 128 106% 14 58% % 61% 29% 8% 34 27% 81% 46 12% 99% 6% 56 8% 41% 91% 92 244 245 11% 11% 14% 14% B4% 85 a4 b1% 51% 102% 1023 87% 8% 20 20 14 1 ek 64 64% 2%, 27% 18% 18% 9% 69% 4 UK 87% 874 84% 84% 42 42 33% 38% % 1% 24% 24% 2% 12% 107% 107% 108% 108% % 17% 82 8% 7 99% % 1% 4% 116% 52, 11% 32 41 30 114 166% 123% 22% 20 124 4 106% 99% 100 9% 89% 224 16% 84% 6% 119% 2% 107 12% 664 100% 143 35% 103 444 87% 1% 38% 123 8% 145 142% 105 104 94 98% 72% 3% s14% 148% 20% 46 13% 46 47 25 48% 83 106 4% 11% 4 5% 16% 14% 24% 58% 30% 3 847 50% 284 123 65 3% 46% 85% 59 39% 441 69% 56 46% 17 69% 68% 3% 3% 6% 8% 27% 92 b4% 30 13% 4% 60% 57% 15% 49% 116% 122 104% 16 126 106% 107% 1 57 T% 61% 28%4 86% 33% 271 78% 9% 46 12% 99% 8% 56 % 40% 9134 240% 1% 14% 84% 40% 50% 102% 87 20 14 4 63% 271 18% 69% 0% 37 84% 42 38% 69% 24% 12% 107% 108% % 17 6% 85 22% 28% 95% 43% 26% " Open. High. Low. Close. 824 1% 4 5% 15% 143 24% 59% 30% 731 85% 504 28 1255‘ €5 73% 48 85% 59 40% 444 63 56 46% 17 72 69% % b4% 6% 4% 28 92 55% 30 13% 4% 61% 57% 16 52% 116% 122% 105 16 127% 106% 107% 13% 58% % 61% 29 87 3¢ 974 46 Kelly Spr Tire... Kelly Springfd pf. Kelsey Wh'l (6).. Kenne Cop (3)... Keystone T & R. . KinnerG R Co. . Kresge Dept Stor. Lée Rub'& Tire. Leh Val (3%). Lig & Myrs (3) Lig & Mvrs B (3). Lima Loco {4)..+ Loews Inc (2). Lott, Incorpor. Loose-Wiles Bis. Lorrillard (3).... Lorillard pf (7) .. Louis & N'sh (). Mclntyre (76c).. Mackay Cos (7).. Mack Truckns (6). Magma Copper. Maliinson & Co. Manati Sug (5). Man El Sup (4). Man El mod gtd Maracaibo Oil, Market St Ry. MKt St Ry pr pf. . Market St Ry pf.. Market SR 2d pf. Mariand Oil. ... . Martin Parry (3) Mathieson Alkali Maxwell Mot A. . Maxwell Mot B May Dpt St (5). Mex Seaboard(2). MexSeabd ctfs(2) Middle St OH. .... Midl'd Prod pf(8) M StP&SSM (4) . Mis Kan & Tex Mis K & Tex pf. Missouri Pacific. Missouri Pac pf.. Montgom Ward. . ¥10n Mot (3). Mother Lo(75! . Munsingw'r (3).. Nash Mot (1834). Nat Biscuit (3).. Nat Cl & S pf (7) Nat Dairy (3). Nat Dept Stores. NDS lIstpf (7). Nat En & St. Nat Lead (8) Nat Supply (3) Nev Con: NewO,T. NYABrA@.. NYAirBr)... N Y Central (7). N Y C & StL (6). Ny C&StL pf (6). N Y Dock NYNH & N Y Ont & West. . N Y Stea pf (7).. Niagara F pf (7). Norfolk South. .. Norf & W (18)... North An.er (2).. North Am pf (3). North Pac (5)... Okla Pr & Ref. Otis Elev (n) (4) Otis Steel........ Otis Steel pf . Owens Bot (3) Pac Coast 1st pf PacG & E (8). Pacific Mail. Pacific Ol (2). Packard (1.20).. Packard pt (7) .. Pan Amer (4). Pan Amer B (4). Park & Tilford. .. PennC&C (4) Penn Railrd (3). Penn Seab Steel. . Pere Marq (4). .. Pere Mar pf (5) . Pere M pr pf (5). Phila Co (4) . Phila Copf (3).. Phila & R& I Phil Mor (50¢c) Phillips Pet (2).. Pierce-Arrow. . Plerce-Arrow pf. Pierce Oil pf..... Pitts Coal (4). Pitts Coal pf (6) . Pitss UL > 1.65 Pitts Ut ctfs 1.65. Pitts & Wesi Va.. Postum Cer (4) Postum pf (8) . Press StiC (4) ... Prod & Refiners. . PubSer NJ (4).. Public Serv rts... Pullman Co (8) - Punta Al Su (3).. Pure Ol (1%)... Ry St Spg (8).... Ry St Sg pf (7) Ray Cons Cop.... Reading (4) Reading rts...... Read 1st pf (2) Read 2d pf (2)... Reis Robert . Rep Ir & Steel. Reynolds Spr (2) Rey Tob B (3)... Royal Dutch rts.. Rutland pf....... St Josepn Ld (2). St L San Fran. StL-San Frpf... St L Southwest. StL §'th pt (5) Savage Arms. Schulte (8) . Seaboard Air L. Seab'd Alr L pf. Sears-Roeb'k (6). Shattuck-Ariz. ... Shell Un O1l (1) Simmons Co (1).. Simme Pet. ... Sinc Con Oil (2)... Skelly Oll. ..., Sloss-Sh pf (7) South Pac (6). ... Southern Ry (5). South Ry pf (5).. Spaulding pf (7). Spicer Mfg....... Std Gas & El 3). StONlNJIpf (1).. Sterling Pr (4). .. Stew't War (10).. Stromberg C (8). Studebaker (4).. Superior OIl. ...... Submarine Boat., Sweets Co of Am. Texas Co (3).... Tex Gulf (16%). Texas & Pacifie. .. Third Avenue. Timken (13% Tob Prod (6). ‘Tob Prod A (7). Transcont Ofl. Un Pacific (10)... Un Pacpt (). Un Tank Car (5). Gtd Cigar Stores. United Drug (6). UD1stpf (3%). Utd Fruit (10) Utd Ry Invest.... Utd Ry Invest pf. U 8 Cast Iron P, USCIP pf (1) U 8 Distributing. U 8 Hoft Mach. .. U 8 1nd Mcohol. USR&Im (8). U S Rubber.... U 8 Smelting. ... USR lst pf (8). U 8 Steel (16) U 8 Steel pf (7) Uniyersal Pipe, Universal P pf(7). Utah Copper (4) Utah Securities. ‘Vanadum Corp ‘Va-Caro Chem B. Va-Caro Ch pt. Va Ry & Power... Wlbl‘.‘" Wabash . Web & Heild (1). Wells Far (3%). ‘West Pen (4)... West Maryland. SlEmasa: Open. High. 14 35% 80 40% 1% 64% 57 9% 48 56% 56 80 16% 64 62% 89% 116% 99% 15% 14% 85% 80 0% 1% 64% 59% 9% 48 6% 66% 61 16% 6% 62 29% 116% 9% 16 113 90% 21% INBOND NARSET New ‘Offerings Only Excep- tions in Today’s Trading. Gains in Liberty Loans. BY GEORGE T. HUGHES, Special Dispateh to The Star. NEW YORK, July 9.—The bond market today continued to exhibit Breat strength, the only possible ex- ception being some of the new offer- ings, which did not go as well as the underwriters expected. On the other hand, seasoned issues, particularly those of the higher grade, were in vigorous demand. This was demon- strated by the prowmpt sale over the counter for the account of an estate of big blocks of St. Louis Southwest- ern first 4s, St. Louls, Iron Mountain and Southern §s and the same road's refunding 4s. Prices were said to be at around the top for the year, while the amounts Involved ran ‘into the millions. Tentative Plan Ready. It was reported that/a tentative plan had been prepared for the St. Paul refunding operation. On June 1 next, the St. Paul's Luropean loan 45 and gold 45 mature to the amount of about $47,000,000. The gold 4s listed in New York sell around 80, in- dicating considerable doubt as to how the maturity will be met. It was suggested today that a 6 per cent issue ured ‘under the refunding mortgage would be offered to the holders of these 48 as the best solu- tion of the problem. It is believed that the New Haven will adopt some similar method to care for its own retinancing next year. Forelgn Group Steady. Foreign bonds today were generally steady. There was a good deal of activity in the Anton Jurgen 6s, mostly at lower prices. The market interest followed the announcement that a strong group had taken over from the original syndicate the un- distributed balance of the bonds. Brazilian bonds held around the previous close with the largest trad- ing in the 7s. A notably weak issue was Finiand 65, wh sold down sharply apparently because of the compeiition from the new $12,000,000 Industrial Mortgage Bank of Fin- land 7s offered today to yield 7% r cent. A new high for the year was made Cuban 5%s above 97. In high-grade domestic issues lib- ertys were higher and rails and in- dustrials were firm. Speculative rails were little changed. BraziHan Bonds Hesitant. By the Associated Press. NEW YORK, July 9.—Firmness of railroad and 'local traction issues counteracted the heaviness of some of the industrial liens in today's early bond trading. Erie Convertible issues, “Katy” ad- justment 5s, and Wheeling and Laka Erie 4s advancing a point or so, werc among the most active bonds. Brook- lyn Union Gas 7s moved up one to two points. Brazilian state and municipal ob- ligations were hesitant but recover- ed from their lowest prices on re- ports thatsthe Sao Paulo revolution gradually was being suppressed. TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 514s September 4%,s December 1 4s March 15, 4 1824 1 1015 3 101 4% 1 4l 2 4%s March 15, 4148 December 13, 1 1108716 103 9-16 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Noon.— Bid.” Askea' 103 Goodyear T. & R, Northern 1t 0il Corp of Pa. Humble Oil 5%s 193: Kennecott Copper 7s 1930, M., St. P, & 8. 8. M. 6 Pure 0il 334 Swift & Co. Tidewater O Union Tank Western Union 8345 193¢ Westinghouse E. & M. 7s 1931 Wheeling Steel 6s 1t 1005 —_——— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs . Nominal Selling good value. checks today. 48665 4.341 997 0612 04501 30 trillion, Brussels, Berlin, Rome, 1 Zurich, franc. Athens, drachms Madrid, peseta Vienna, crown. Budapest, _crown. I3 By the Associated Press. NEW YORK, July 9.—Foreign ex- changes _ irregular; quotations (in United States dollars): Great Brit- ain, demand, 433%; cables, 4.34; sixty-day bills on banks, 4.31. France, demand, .0506; cables, .0507. Italy, demand, .0425%; cables, .0436. Bel- gium, demand, .0449%; cables, .0450. Germany, demand (per trillion), 23% ; Holland, demand, .3771. Norway, de- mand, .1330. Sweden, demand, .2655. Denmark, demand, .1591. Switzer- land, demand, .1791. ~Spain, demand, .1325. Greece, demand, .01723%. Po- iand, demand, .00195-16. Czecho- slovakia, demand, .0293%. Jugoslavia, demand, .0118. ' Austria, demand, .000014%. Rumania, demand, .0041%. Argentina, demand, .3262. Brazil, de- mand, .1045. Tokio, demand, .41%. Montreal, .99%. $1,000,000 OIL CONCERN. BALTIMORE, July 9 (Special) The Seaboard Terminals Corporation has been incorporated under the laws of Maryland and will shortly start building a $1,000,000 plant here for refining and shipping of ofls, The company, which has taken a ninety-nine-year lease on a large tract on the waterfront, will also en- gage in wharfage and berthing of ocean-going ships. Wheel & L Erie. ‘Wheel & L Er pf. ‘Wh Eag Oll (3)... White Mot (4). Wickwire 8p Stl., Wilson & Co. ... Wil &Copt Willys-Overiand. ys-Over pf. .. oolworth n (3)..114% ‘Worthingn Pump. 27% Wright Aero (1). 104 Wrig WJir(3)... 884% 38K Yollow Cab (5)... 66% 5§74 66% B5% 9% ‘10 20" 204 3 extra. IPayable in rred stock. B EEIE s LR (Bales are in $1,000.) FracONITED STATES BONDS. {Fractions represent thirt; Examp] lgl means 101 Sales. High. Low. . Lib3%s...... 497 101-19 101-18 101-18 Lib 1st-2d 4% 1 101-3 101-3_101-3 Lib2d4s..... 3 101=12 101-12 10le12 Lib 1st 43 63 1026 102-3 102-5 Lib2a4%s... 265 101-18 101-16 101-16 Lib3d 4%s... 290 102-10 1028 1029 Lib 4th 4}s. . 1049 102-10 102-6 102-% US4%s1952. 38 104-30 104-26 104-26 FQREIGN. Sales. High. Argentine 6s'37... 84 93% Argentine 7s. 15 102% Austria 7 13 92 Belgium 63 23 100% Belgium 7% 25 105% Belgium 8s 7 104% Bolivia 22 924 Bordeaux 5 854 grllll'll. 77 85% razil 7is 3 97 Brazil n"?. 64 97% Canada 5s 1926 5 101% Canada 12 101% Canada 5s 1952, 108 Canada's%s1929.. 83 103% Chile 78 1943 . 15 98% Chile 85 1926 . 1103% Chile 8s 1941 . 4 105% Copenhagen 5%s.. 10 92% Cuba 6%s. .. 523 97% Czechoslovakia 8s. 17 96% Danish Munic 8s A: 2 108% Danish Munic 83 B. 1 108% Denmark 6s. 98% 110% 90 89 95% 95% 102 867% 93% Low. Close. 93 93% 102% 102% 92 92 100% 100% 105% 105% 104% 104% 92 92 8 8% 84% 85 9% 9T% 96% 97% 101% 101% 101% 101% 102% 102% 103 103% 98 98% 103% 103% 105% 105% 92 92% 96% 9% 96% 96% 108% 108% 108% 108% 984 98% 110% 110% 89% 90 88% 88% 95 95 94% 95% 101% 102 £5% 86 93% 93% 99 99% 1025 102% 91k 9% 74% 4% 8% 79% 9% T 52 924 8% 79% 85% 85% 85% E5% 91u 92 95 95% 6% 96% 97 97 110% 110% 8% 85% 79 79 98 98 e8% 8% 101% 101% 108 108 s5 95% 24k 94k 964 99% 100 89% 85% 84% 1034 96 12% 60% 109 103% 1 91 Dutch East I 65'47. Dutch East I 6s'62. 23 El Salvador 8s '48. 7 Finland s f 6s 1945. 20 Framerican 7%s.. 1 French Govt 7%s.. 37 99% French Govt 8 60 102% 1 91% Holland-Amer 6s.. 1 74% Japanese 4s. .15 19% Japanese 2d 4% 1 9% Japanese 61%s. 132 92% Jergens U M 68'47. 171 79% Lyon 6s, 85% Marseille 85% Montevideo 78 92 Netherlands 6s. 95% Norway 6s 1943. 974 Norway 6s 1952... 97% Norway 8 B 110% Orient Der deb 6s. 85% Paris-Ly's-Med 6s 9% Porto Algere 8s... 98 Prague 7%s. 88% Queensiand 6s 101% Queensland 7s 108 Rio de Jan 8s 1946. 95% Rio de Jan 8s 1947. 94% Rio Gr Do Sul 8s 964 Sao Paulo Citv 8; 99% Sao Paulo State 101 Seine Dept of 78 89% Serbs Crotes Slo 8s 59 86 Soissons 6s. 84% Sweden 6s.... 103% Swiss 5ls 1946. 96% Swiss Confed 8s. 1127% Tokin bs. 61 Ud Kingm 109 Ud Kingm 5%s '37. 37 104% UA Steam Copen 65 8 91% Urugmay 8s,. . 3104% 104% Zurich 8s. sawe: 1 110/ S 110 MISCELLANEOUS. Am AgrChem5s.. 9 96% Am Agr Chem T%s 28 88% AmChainsf6s'33. 2 95 Am Repubdeb6s.. 1 92% Am Smit&R 1st5s. 21 94 Am SmIt&R 6s.... 1 105 Am Sug ref®: : 31 100% AmT& Tcltrés.. 96% AmT& Tl tr5s.. 23 100% Am T & T deb 5%s. 53 102% Am Water Wks 5s. 92 Anaconda 1st 6s. .. 96% Anaconda cv db 97% Armour & Co 4% 86 Armour of Del 5%3 91 Associated Oil 65.. 5 100% Atlantic Refin 5s.. 98 Bell Tel Pa §s..... 16 100% Beth Steel pm 5s. 89 Beth Steel rf 5s. 95% Beth Steel 53%s '53. 88 Beth Steel s f 6s. 96% Brier H St 1st 5%s 97 Bklyn Edison 78 D. 1,109% Bush T Bldg 55 '60. 97 “alif Pete 6%s. ... 98% Can Gen El deb 6s. 1 105% Central Leather b3 99% Chile Copper 6s 102 CinG&E5%s 100% Col Gas & El15s.... Col Gas & El 5s sta Commonwth P 6s.. Con Coal 3d 1st 5s. Consumers Pow §s Cuba Cane cv 78 '30 Cuban-Am Sug 8 Denver Gas 58 Dery (DG) 7 Det Egison ref 6s.. Du Pont de N 73s. Duquesne Light 6s. Est Cuba Sug 7%3. Empire G&F 7 Fisk Rubber 8s Francis Sug 7%s Gen Elec deb 5s. Goodrich 635 Goodyear 8s 1 Goodyear 8s 1941, Hershey 6s 1942. Humble O&R 5% linoi# Beil 1st 5s. Illinols Steel 4%s.. Indiana Steel b Int Mer Marine 6 Inter Paper 6s’47.. KCP&Ltbs A'52. Kan G & El 6s°'62.. Kelly-Spring 8 Liggett & MyTs 5i Magma Cop cv 78 Manati Sug sf 7%8s Marland Ofl 7% Marland Oil 8s '31. Midvale Steel 55 ct Montana Power 6s. Morris&Co 1st 4%5 New Eng Tel 5s N Y Edsn 18t 6% NY Tel 4%s. N Y Tel 6s’41 N Y Tel 65’49 Norta Am Ed 101 89% 85% B4l 96Y% 6% 87%4 25 92% 93% 105 100 96% 100% 102% a1 9614 8T% 85% 90% 100% 97% 100 89 °5% 88 96 96% 109% 96% 98% 105% 99% 101% 100% 99% 99% 92% 87% 8938 94% 108 904 68 Nor States Pow 6 Northwst B Tel 7s. Otis Steel 7% Otis Steel Pacific G PacT&T Pacific T & T 68 Pan-Am Pete Ts. .. People’s Gas 5s.... Phila Co 5%8’38... PhilaCoref 65 A. Phil & Rdg C&L b lerce-Arro Producers & RE 8 Public Service bs Pub Serv Elec 68 Punta Alegre Saks & Cosf i | Sinclalr O1l 6% nclair Of1 78 §l.n Crude Oll 5% Sin Crude Ol 6s. Sin Pipe Line 5s. So Por Rico Sug 78 Southwest Bell 58. Steel & Tube 75, .. Sug Est Orient 78.. Tenn Elec Pow 2 32 A% 9244 102 o 98K ‘Western Union 6% 17 1104 ‘Westinghouse 7a. 108% ‘Wickwire Spen 8 66% Willys-Ov 638 '33. 12 98 Wilson & Co lst 6s. 44 88% Wilson & Co cv 6a. 80 53% lisonaC ,;fé;gai RAILROADS. / High. Low. Close. Bales. S a1 Atchison adj 4s, Atchison gen 4s AtlantieC L 1st 4s. Bklyn-Manhat Buff R&PItt 4%, Canada South b Canad North 63%s. Canad North 7s. Canad Pac deb 4s. Car Clinch & O 5s.. Car Clinch & O 6s, Centof Ga6s...... Central Pacific 4s. . Ches & O cv 4%, Ches & O gn 4% Ches & Ohio cv bs. Chi & Alton 3% 32 Chl B&Q 1st rf Gs..101 CB&Q-Ill3%s CB & Q-Ill div 4s Chi & E Il gn s, Chi Great West 4s. ChiM&StP4 ChiM&St P 4s '34. CM&StPdbis... Chi M&St P cv 4348 Chi M&St Prf 4348 Chi M & St P cv 5 Chi M & St P 6s. Chi & N'W ref 5s. ShiRys 5s...., ChiUn Sta 41¢s. .. Chi& W Ind cn 4s CCC & StL4ys CCC & St L 5s. CCC&StLrf6sA. Cleve Term 58 Cleve Term 538 Colo & Sou 4%, CubaRR Ti4s Del & Hd 1st rf 4s. Del & Hudson 5%s Den & Rio G en 4s. Erie 1st con 4s Erie gen 4s. Erfe conv4s A Erie conv 4s B Erie conv 4s D - Erie con ext 7s. ... Eriq& Jersey 6x. Erie Genessee R 65 Gr Trunk sf db 6s. Grand Trunk Ts... ireat North 5s.. .. Gr North gen 5%s Gr North gen 7s... Hud & Man ref 5s. . Hud & Man aj bs.. 111 Central vef 4s.. 11l Cent ref 53 °55.. 111 Central 53%s. nt Rap Tran 5s... Int Rap Tr 6s stpd. Int Rap Tran 6s... Int Rap Tran 7s... Int & G Nor 1st 6s. Int & G Nor aj 6 Iowa Cent 1st 5s. Kan City Ft S 4s Kansas City S 3s.. Kansas City S 5s. . Kan City Term 4s. Lake Shore 4s '28. Lake Shore 4s'31. Louis-d N uni 4s Louis & N6sB.... Louis & Nash b%s. Louis & Nash 7s... Manhat Ry cn 4s.. Market St Ry 7s. Mil EI Ry & L 5s. M & St L 1st ref ds. M&StLrfexbs.. M StP & SSM cn 4s. M StP & SSMcn 5s. M StP & SSM 635, & TprinbsA. MK&TS6sC... Mo Pacific gn 4s... Mo Pacific 55 '65 Mo Pacific 6s.. Nassau E Ry 4s’57 O Tex & M in 5s. N Y Cent gen 3%s. N Y Cent cn 4s'98. N Y Centdeb 4s... NYCeutribs N Y Cent deb & N Y Chi & SL5%s.133 NYC&StL6sA.. New Haven d 4s '57 New Haven c d 6 New Haven 7s. New Haven 7s fr. NYOnt& Wref 4s New York Ry rf 4s NY Ry rf 4sctfs... New York Ry aj 5s NYRysadjbsct.. N Y State Ry 4%s. NY W & Bos 4% Norfolk & W cv 6s. Northern Pac 3s... Northern Pac 4s... Northern Pac 5s D. Nortarn Pacri 6s. Ore Short Liref 4s. Ore Sht L cn 53 '46. Ore-Wash 1st rf 43 Pennsyl con 4%s. . Pennsyl gen 4%4s.. Pennsyl gen bs.... Pennsyl 63%s. Pennsyl gold 7s... Peoria & B inc 4s.. Pere Marq 1st 63 Reading gen 4s.... Reading gn 4% Rio G West 1st 4 Rio G West cl 4s... RIArk & L 4%s St L IM&S 48°29... St L IM&S R&G 4 StL&SFplisA.. SanA & Arn P s Scab'd AL 4ssta Seab'd A Liref 4 'd A L adj 58 Seab'd A L con Sou Pacific 4s 29 Sou Pacific clt 4s. Sou Pacificret 4s, Southern Ry gn 4s. Sbuthern Ry 1st 5s Southern Ry Southern Ry, Sou Ry Mobile 4s, Third Ave ref 4 Third Ave adj b Tol St L& W 3%s. TolStL & W ds... Union Pac 4 Union Pac Mstr: Union Pac 1st rf Union Pacific cv Western Pacific 5s. ‘Wheel & LE cn 4s. ‘Whel &LETf 4% ‘Wisconsin Cent 4s. Company. Arizons. Coml Min. Central Power & L. of St. L. cum. pl.n,u Cerro_de Paso Cop. [12 Montreal Tram: Noww.: G, & St. L 1 28 13 ’25.115 4 5 8 33 72 5 44 13 . 147 96 7 8 16 57 10 20 23 37 13 20 4 60 10 12 32 20 16 35 75 834 0% % 99% 87% 89% 85% 102% 100% 681 83% 20 1% 99% 86% 89% '85% 102% 100% 9% 68% 80% 88 100% 113% 113% 80% 98% 102 103% 88% 95 88% 97 374 100 83% 90% 0% 556% 79% 1% 531 59% 53% 674% 99 95% 7% 82%, 81% 80 9% 75% 964 95% 103% 93% 105% 887 101 83% 0% Nk 9% 86% 89% 85% 102% 100% 994 68% 80% 88 100% “113% 113% 80% 98% 102 103% 89 95% £8Y% 97 38 100% 83% 90% 0% 55% 79% 1% 53% 59% 53% 57% 99% 95% 7% 82% 81% 80% 91% 5% 955 96 103% 100 105% 89 101 9% | report of today's sales, high, low and * AND MORE WHEAT Agriculture Department Gives Out Very Important Crop Forecast. Indications of a corn crop 531,000,- 000 bushels Smaller than last year's and better prospects than a month ago for the wheat crop were the outstanding features of today’s crop | report of the Department of Agricul- ture, based on July 1 conditions. Corn production this year will be about 2,515,000,000 bushels, the De- partment of Agriculture announced | today in its first corn forecast. Last | year 3,046,000,000 bushels were | harvested. Winter wheat production is fore- cast at 543,000,000 bushels and spring wheat at 197,000,000 bushels, making the total wheat crop 740,000,000 bush- els. Forecasts a month ago indicated 09,000,000 bushels of winter wheat, 184,000,000 bushels of spring wheat and a total crop of 693,000,000 bush- els, against 786,000,000 harvested last year. COTTON QUOTATIONS IRREGULAR TODAY Early Advance on Rain Reports Offset by Heavy Selling in Later Trading. l By the Associated Press. NEW YORK, July further showers in states and relatively firm Liverpool cables were followed by an opening advance of 8 to 35 points in the cot- ton market today. Foreign and domestic trade buying on the upturn carried July up to 28.95 and October to 24.38 on the call. The advance attracted enough realizing to cause irregularity in the early trading, but the undertone was steady and there was covering by re- cent sellers who appeared somewhat uncertain of the probable showing of the weekly weather report. Private returns indicated domestic mill consumption of 360,000 bales for June, compared with 4 Cotfon futures closed firm Lo 9.—Reports of the Atlantic July Ocigper Decenber January Sgrelc 200 Opening: " "July, cember, 23.65; January, 23.52; March, 2 and 542,000 for June last year. NEW ORLEANS, July 9.—The cot- ton market opened steady with first trades on new crop months showing no change from yesterdays close, but July was 8 points down. Prices ral- lied right after the call owing to much better Liverpool cables than due. July advanced 13 points from the opening sale to 26.65. October traded up to 23.45 and December to 23.34, or 9 points higher. Private cables from Liverpool showed a strong tone, owing to the rapidly di- minishing stocks. Early advices re- ported little rain in_the belt, with higher temperatures. The 18,945 bales cleared _here for Russia yesterday were officially added to exports this morning. LIVERPO July 9.—Spot cotton in_fair demand; prices steady. G middling, 17.34; fully middling, 16. middling; 16.19; low middling, 15 good ordinary, 14.3 3. Sales, 5,000 bales, including 3,600 American. Receipts none; futures closed quiet. July, 16.29; September, 14.89; October, 14.33; December, 14.01; January, 13.93; May, 13. Cotton” futures closed very steady at met advances of 30 to 42 points. Hizh ordinary. July ... October December March .. Opening cember, 23.30, bid. 23.27, bid; March, — e COPPER AT 12 1-4 CENTS. NEW YORK, July 9.—Copper easy; electrolytic, spot and futures, 12%. Tin easy; spot and nearby, 43.50; fu-| tures, 43.75. Iron steady; No. 2 south- ern, 20.00. Lead steady; spot, 7.00. Zinc steady; spot, 5.80; futures, 5.80a 5.85. Antimony, spot, 8. OUR UNCHANGED. MINNEAPOLIS, July 9.—Flour un- changed. Bran, 21.00a22.00. Wheat No. 1 northern, 1.20%al.25%; July, 1.20%. -— CHICAGO STOCK MARKET. CHICAGO, July 3.—Following is a closing_quotations at the Chicago Stock Exchange: Sales. High. 80 Armour of Del pfd 83% 100 Armour of Tl pfd 81 Commonwealth Ed. 127% 245 Continental Motors 6613 90 Middle West Util.. 5213 150 Mid West Util ptd 89 1835 Montgomery Ward 30 10 Montgomery Wd A 1121 20 Quaker Oats pfd.. 101% 3225 Stewart Warner 66 215 Swift & Co. D101y 20% 80 89 Close. 525 Swit Totl E 800 Union Carb & Carb 200 U S Gypsum...... 140 Wanl 450 Wrigley % % BAIN $24%2,10243 Favorable Showing of Na- tional Institutions Augments Total; Local Stocks Firm. BY CHAS. P. SHAEFFER. Deposits of District banking insti- tutions totaled $201,036,065.93 on June 30, last, the date of the controller's call for statement of condition, which represents a gain of 492,102.43 over the previous reporting period when deposits _aggregated $198,543,963.50. These official figures were ma: Ifc this morning by Audley P. age of the National Savings and Trust Company. National banks of the ci single handedly, were responsible for the favorable showing. This class of institution, numbering fourteen, showed a net increase in deposits of $2,024,045.94, only four banks report- ing reverses for the period. The Na- tional Bank of Washington reported the largest gain, not only in the na- tional bank section, but throughout the entire ficld, showing a net gain of $870,144.54 for the three months’ period. Riggs ational was second in this section ith a gain of $640,- 532.21, and the Second National third with $554,852.33. Savings banks of the District re- ported a net gain of $492, the period, with fourteen of the twen- ty-three reporting institutions show- ing on the “right side” of the le ‘The North Capitol Savings Bank was first with a gain of $106,784.56, the Citizens second with an increase of $92,754.40, and the Bank of Commerce and Savings third with a gain of §80,- 588.18. Trust companies fared worse, the seven reporting institutions combining a net loss of $596,132.04. This total was kept materiaily lower, howev by the very creditable g 495.57 shown by the Merc] and Trust Compa) and crease of $564,143.54 reported by the Continental Trust Company. From the complete stat pearing elsewhere in today’s financial news, it seen the banks of the Dis- trict of Columbia are in an exceedingly healthy condition. This fact becomes doubly apparent when it is remem- bered that a couple of millions of dol- lars, at lea: were withdrawn. prior to June 30, and invested in securities S0 as to cut down the taxable total of bank deposits on that date. These funds have now undoubtedly found their way back into the banks, and de- posits today should aggrezate several millions in excess of the total shown in the compilation. Trading On Loeal Exchange. Favorite Washington _ securities continued to maintain a firm tone in today’s trading on the local board Preferred stock of the Washing- ton Railway and Electric Company was in good demand, ninety shares selling at 7 Seventy-six was of- fered for the common issue with none for sale. Capital Traction held firm and even at 92% and 93 as did Lan-— ston at 72%. Stock of the Commercial National Bank sold at 139%. Trading in bonds was restricted to local utilities. Traction 5s sold at 98, with Gas 5s selling a quarter higher. Gas 6s brought 101 upwards to 101 and Railway 4s sold at % Potomac Electric consolidated 5s sold al 2. JULY CORN SELLS HIGHEST SINGE 1920 Special Dispatch to The Star. CHICAGO, July 8.—July corn showed over 1.00 today, the first time an ac- tive menth reached that level since 1920. Al corn futures made new high records for the year and the close was at the best point of the day. showing gains of 1% to 2; July, September, 96%a97; December, almost stics ap- {86%a86; May, 88%as8%. —_———— CHICAGO GRAIN PRICES. CHICAGO, July 9.—Wheat made an early advance in price today owing more or less to an opinion from a leading expert that black rust was threatening the spring crop and that an_escape from the danger would be surprising. Opening prices, which ranged from unchanged to % higher, with September 1.12%al.12% to 1.12%. and December 1.15%al.1§ to 1.16, were followed by gains. Corn promptly advanced to a new high price record for the season,July touching 99%. After opening at % off to ‘%a% up, September 95%4 to 95%, the market steadled at some- thing of a general advance. Starting at % lower to % up, Septem- ber 437%, oats prices scored a moderate general upturn. Provisions were responsive ness of hog values WHEAT— Open. July . aevs I8 September . December CORN July ... September December 0ATS— July ... September December LARD— July s September October . RIBS— July .. September to firm- High. Low. 1155 Close. 1145 1143 1175 1.00 BUTTER SELLS LOWER. CHICAGO, July 9.—Butter lower; creamery extras. 39; standards, 38%; extra firsts, 38a38% DEPOSITS OF WASHINGTON BANKS. NATIONAL BANKS. March 31, 192: Bank of Washington Columbia Commercial . District Farmers and Mechanics Federal-American Franklin Liberty Lincoln National Riggs Second Standard $7.151,010.1 999, 590,917.17 Tota BAVINGS Anacostia B Commerce ‘and’ Savings . Departmental Fast Washington . Industrial International Exchange McLachlen Mount Vernon 40k SREEE o 2 sehEhRnzEs BEsisaEsass Security Savings and Commercial Sevenths Street . United States ‘Washington Meci ington Savin Woodridge-Langdor Hiorase 28 88 3322308858250 kS +v00e...$102,227,018.77 $104,251,064.71 BANKS, $5.063.92 19,613.27 5.01780 " Totals ... *| American Security Continental Merchants’ 9,757 6.015,018.24 -+ $28,455,733.33 "§564.143.54 716.495.57 179,138.57 +12,501,911.11 seeees $67,861,211.40 $67,836.718.95 RECAPITULATION. 102.227,018.77 $104.251,084.71 e 282 67.801,21140 67,880,718.65 $2,024,045.94 % 28,048 492,548.94 T