Evening Star Newspaper, July 21, 1924, Page 20

FIN -~ JIANY STOCKS RISE [T0 FRESH HEIGHTS {i flailroad, Copper, 0Oil and ISome of Motors Go Higher ! in Today’s Trading. i i | i BY STUART P. WEST. “pecial Dispatch to The Star. NEW YORK, July 21.—Prices rose to fresh heights on the stock ex- change from the outset today. In another wave of buying, equaling any- thing which occurred in the upward movement of the previous week, stock after stock reached new high levels, and speculative enthusiasm spread throughout the list. American Can and General Electric, the latter at its best for the year, were among the leaders. Metal Shares Active. Metal shares in several instances were at new highs. American Smelt- | ing and Refining was a feature and Chile Copper and Kennecott also got | to their best prices. Cerro De Pasco, Miami Copper and American Metals went along. The strength in the metal group was attended by a firm tone in the various metal markets. Copper advanced fractionally to 12% cents a pound, and the silver market Kept around its high mark for the season. The prospect of a favorable adjustment of the reparations prob- lem and the likelihood in such an event of a jump in the foreign de- mand for copper and other metal were the chicf influences The oils were actively bought in spite of the announcement of further reductions in crude oil. Their per. formance was a boon to speculative rations, for it was the opinion | if they could do so well while of crude oil and oil products till on the down grade, most of bad news had been fully dis- | counted Hudson Shares Strong. Conspicuous strength in Motors was the bright spot in market for the automobile s The stock now pays $3 & vear, while | carnings. if the latest reports ean be | en a guide, fully warrant a| higher rate. Coincident with Hudson the ares. the publication of the first six months' income account | of the Wrigley Company was & report that the next dividend disbursement would be at the rate of $4 annual instead of $3. In the half year Wrig i income. after taxes, depre- . equaled $2.36 a share on pital stock First June Railroad Report. The first of the June railwa ngs statements appeared todas of the Kansas City Souther net as compared with a market paid not the slightest atten- tion to these losses, the stock of this particular_road advancing to 4 new | high for the year. Sterling _exchange was strong again, approaching the high of the vear. There was diminution of rhn‘ money supply. While funds on the exchange loaned at 2 per cent, accom- | modation outside was obtainable at | T12. Wheat and corn opened lower but subsequently recovered. MAREKET CLOSES STRONG. About 1,000.000 Shares. Pools Help Rise. By the Associated Press. NEW YORK, July 21.—Stock prices | continued to mount to higher ground today on reports of conditions and prosp. arly | operation of the Dawes reparations | plan. Coppers and rails gave impres- sive demonstrations of group strength | while a number of specialties moved up under pool auspic Sales ap- Proximated 1.000,000 s The closing Wi Prices continued to advance in orderly fash- | fon in the late trading with some £00d gains being recorded by ordinar- ily inactive issues such as Calumet and Arizona and Remington Type- writer. Sales Markets at a Glance ew York—Stocks—Strong; coppers | at new highs. Bonds—Firm; several speculative rail issues at new top. Foreign exchanges—Steady: sterling and francs gain. Cotton—Higher; bullish government report. Sugar— Featureless. : Coffee—Easier; commis- sion house selling. Chicago—Wheat—Barely steady: more hopeful Canadian outfook. Corn —Lower; larger receipts. Cattle— Strong; ~lighter receipts. Hogs— Higher; shipping demand very active. WALL STREET BRIEFS. Stewart Warner Cuts Dividend. Wrigley Earnings Report. NEW YORK, July 21.—Directors of the Stewart Warner Speedometer Cor- poration today reduced the quarterly dividend on the common from $2.50 to $1.25 a share. The dividend is payable August 15 to stock of record July 31. The Kansas City Southern Railway Company, including Texarkana and Fort Smith Railway Company, earned a_railway operating income of $316,- ! 050 in June. a decrease of $58.216 compared with June of last year. In- come for the six months of 1924 dropped $150,660 to $2.192,921, in com- parison with the first half of 1923. The net income of $4,251,226. as re- ported by the William Wrigley. Jr., Company, for the six months ended June 30, is equal, after depreciation and federal taxes, to $2.26 a share on the no par value capital stock. Barn- ings were $5,471,183. SHORT-TERM SECURITIES. American Tel 5 ‘Anaconda Copper 6s 1 = ‘Anglo-American Oil Ty 1925, Associated Ofl 6x 183 Bell Tel. of Canada 5s 19: Canadian Northern 51s 1924 Humble 0il 5%s 1932. Kennecott Copper 7s M., St. P& B, 8. M. Tnlon Tank Car T. 8. Rubber 7ias 1930 Western Union 843 103 Westinghouse E. & M. ‘Wheeling Steel 8s 19 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Noon.——, Bid. Offer. 100%, 100 9-16 100 13-16 100 15-16 101 101 5%4s September 15, 1924. 4i(s December 15, 1924 4s veh 15, 192: 16 | Inland 8tl (2%).. | Beth St1 pf (8) | Burns Br B (2).. | Can Pacifc (10). NCIAL it NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. Close. 89 894 = Open. High. Adams Exp (6). 89% Adv. Rumley. 10% 104 Air Reduct (4). Ajax Rubber. Alaska Juneau Allied Chem (4) Allis-Chalm (4).. Ailis-C M pf (7). Am Agricul Chm. AmAgr! Chem pf Am Bosch. ... AmBrS&F (). Am Can (16)..... Am Canpt (7).. Am Car & Fy(2). Am Chain A (2 Am Chicle Am Drug Synd.. Am Express (4) . Am & F P 25%(7) Am For P f pd(7) Am Tee (73. . Am Ice pf (6). Am Internati. ... Am LaF F E(1) Am Linseed. Am Linseed pf.. Am Locomo (#). Am Loco pt (7). Am Metal (3). Am Radiator (4). Am Saf R (50c). Am Ship & Com. AmSm & Re (5); AmS&Rpf (7). Am Stl Fdys (3). Am Sugar....... Am Sugar pf (7). Am Sumat Tob.. Am Sum Tob pt. AmT & Tel (9).. AmTel & Tel rts. Am Tobac (12).. Am TobB (12).. Am Tob pf (6) Am Water Wka. . Am W W pf (6). AmW W 1st (7). Am Woolen (7). Am Wool pf (7). Am Writ Pap pf. Am Zinc. Internat Agri. Int Bus Ma (8)... Int Cement (... Int Com Eng (3). Internat Har(5). Int Mer Marine. Int Mer Mar pf... Internat Nickel. Internat Paper... IntT& T (6). Intertype (11%). Invincible Ofl. Jones & Lau (7). Jordan Mot (3)... Kan City South. .. Kan CSopf (4).. Kayser Jul & Co.. Keily Spr Tire. | Kelly Sprg 1st pf. Kelly Springfd pt. Kenne Cop (3) Keyatone T & Kinney G R Co. Kresge Dept Stor. Leh Val (3%) Lig & Myrs ( Lig & Mvrs B (3 Lima Loco {4)... . Loews Inc (2) Loft, Incorpor. Loose-Wiles Bis. . Lorrillard (3). Louis & N'sh (§). McIntyre (75¢).. Mack Trucks (6). Mack T 1st (7).. Magma Copper. Mallinson & Co. Man EI Sup (4) Man Ei modgtd Maracaibo Oil. Market St Ry. . Marland Oil. ..... 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 Ofl Midvale Steel. Midl'd Prod pf(8) Minn & St Louis. . Mis Kan & Tex. Mis K & Tex pf. Missour! Pacific. Missouri Pac pf.. Mont Power (4). Montgom Ward. Mson Mot (3. Mother Lode Mullins Body. 112 26% 28% Arm pf Del (7) Arn Cons & Co. ... Asso Dry G (6).. As DG 1st pf (6). As DG 2d pf (T). AtT&SFo (6).. AT&SF ot (5). Atl Birm & At... Atl Coast L, (18). Atlan Fruit cfs.. AtGulf & WI... AtGult & W Ipf Atlan Ref (4)... Atlan Ref pf (7). Atlas Tack. Austin-Nichol: Bald Loco (7). Bal & Ohlo (5) : Nat Ry,M 2d pt.. Bal & Oh pt (4). o4 L Nev Cons Cop. ... NewO,T&M 123% NYABrA®.. N ¥ Central (7). N Y C&StL (6). Ny C&StL pf (6). NYNH& 1311 NYOnt& Niagara Falls P Niagara F pf (7). Norfolk Scuth. .. Norf & W (18) North Anier (2). North Am pf (3). North Pac (5)... Ohio Body & BY .. Oh F Sup (2%). . Okla Pr & Ref. . Ontario Mining. Orpheum (1%). Otis Elev (n) () Beth St pf (T) Booth Fisheries. . Brk Edison (8).. Brk-Man Tran Br Man T pt (6). BrklynUnG (4) Burns Br (10) . Butte C & Zinc. . Butie&Superior Caddo Cen O & R. Cal Pet (1%). Callahan Z Lead. Calu & Ariz (2). . Calumet & H 50c. Canada So (5) Case Threshi Case J1Plow.... Cent Leather Co. Cent Lea Co pf.. . Cerro de Pasco(3) Chand Mot (6). Ches & Ohio (4) Chicago & Alton.. Chic & Alton pf. Chic & East 111. Ch & East Ill pt. Chic Gt West. Chic Gt West pt. Ch MI1 & St Paul. Ch Mil & St. P pf. Chi & Nwn (4). Ch Pneu T (5) ChicR1& Pac. CRI&PDI(6).. CRI&PDL(T).. Ch StP Min & O Chi Yellow C (4). Chile Cop (2%) Chino Copper. CCC&StL (5).. Coca-Cola (7).... Cnlo Fuel & Iron. Pacific Develp. PacG & E (8). Pacific Ol (2). Packard (1.20).. Packard pf (7).. Pan Amer (4). Pan Amer B (4) Panhan Pr & Re. . Penn Rallrd (3). Penn Seab Steel. . Peop Gas Ch (7). Pere Marq (4)... Phila Co (4) Phila&R&I.... Phil Mor (50c). Phillips Jones. Phillips Pet (2). Plerce Ol pf. Pitts Coal pf (). Pitts Stl pf (7). Pitts & Wesi Vi Press St1 C (4) Prod & Refiners. Pr&Rpf (31%) Pub Ser N J (4). Pullman Co (8).. Punta Al Su (5). Pure Oil (1%)... Ray Cons Cop.... Reacing (4)..... Reading rta. Read 1st pf (2).. Read 2d pf (2)... Reis Robert. Remington Type, Replogle Steel. . Rep Ir & Steel Reynolds Spr (2) Rey Tob B (3) Col Carbon (4).. Conley Tin Foil. . Com Solv A (4) Com Solv B. . Congoleum (3)... Consol Cigar. Consol Gas (5). Consol Textile... Cont Can (4. Cont Motors (20c) Crucible StI (4).. Crucib Stl of (7). Cub Am Sug (3).. Cuban Cane Sug. . Cub Cane Su pt. Cuyamel Fr (4).. Dan! Boone M (3) Davidson Chem, Del & Hud (9) . Det 151 Co (8) . Dul So Sh & Atl Dul SS & At pf. Du Ptde N (8). DuPdeNdb (6). Fastman (16%). Eastman pf (7). aton Ax (1.60) El Stor Bat (4) Emer Branting End-Jobn (5) Rutland pf....... 8t Joseph Ld (3). St L San Fran 8t L-San Frpf.. St L Southwest. StL8'thpt (5). Santa Cecilia. Schulte pf (8) Seaboard Alr L. . Seab'd Air Lipt.. Sears-Roeb'k (6). Seneca Copper. Shattuck-Ariz Shell 1rad (2.06) Sheil Un Ofl (1).. Simmons Co (1). Simms Pe! Sinclair Oi Sinclair Oil pf (8). Skelly Ofl. ...... Sloss-Sheft (6) So P Rico Su (6) South Pac (6).... Southern Ry (5)., South Ry pf (5) Spicer Mfg. .. Spicer Mf pf (8) .. $td Gas & E1 3). Krie 2d pf. Exch Buffet (2).. Fzmous Pl (8)... FAM&SPpL(D.. Fifth Av B (64c). Fisk Rubber. Freeport-Texas. Gen AmTC (3).. Gen ATCpf (7).. Gen Cigar (8). .. Gen Cgrdeb (7). General Elec (8).. Gen El spe (60c). Gen Mot (1.20). Gen Mot db (6) Gen Mot 3 (7). Gen Petm (2).. Gimbel Bros. StOUNJTpf (.. 1 Std Plate G1(75¢) Stew't War (10)... Sweets Co of Am. Telautograph. Tex Gulf (16%). Texas & Pacific. . Tex & PacC & 0. Third Avenue. ... Timken (13%). Tob Prod (6) ‘Tob Prod A (7). Transcont Oil. Transue & W ( Twin City (4). Underwood (3) Un Pacific (10). Un Pacpf (4). Un Tank Car (5). Un T Carpt (7) Utd Alloy Steel. Utd Clgar Stores. United Drug (8) . Goody G'dyear prpf (3). Granby Consol... Grt Wstn Su (8). Gr Canan Cop.... Gulf Mo & Nor. Gu Mo & N pf (§) Gulf St 8t (5)... Hartman Co (£).. Hayes Wh'l (3) Homestake( 7) Houston Oll. . Hud Mot C (3)... Hupp Mot C (D). Hydraulic Steel. . Dlinois Cent (7). . 3 % 19% 34 Inland Stlpf (7). 108 r.tioa Cop. 26 Indian Motorcyc... Inspire. ' Taterd Rap Tr, ADVANCE IN BONDS French and Brazilian Issues Give Renewed Strength to Foreign Group. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, July 21.—The week in bonds opened with prices firm and with especial strength in some of the low-priced railroad issues. Chi- cago and Alton, New Haven, Missouri Pacific, Chicago and Eastern lllinols and Seaboard Air Line junior liens were all conspicuous. The Chicago and Alton 3%s jumped nearly 2 points to a new high for the year, a remarkable advance for a bond in default and the obligation of a railroad in the hands of u re- ceiver. The low coupon rate, how- ever, and the fact that the bond ix junior only to the 3 per cent issue of 1949, justifies the bellef that it will be favorably treated in reorgani- zation. Prices Above Saturday. With the New Haven it was the debenture 6s of 1948 which made the new high for 1924, up a point and & half from Saturday’s closing price. The 7s of 1925 made a fractional gain, while the New York, West Chester and Boston 414s, the standing of which depends on the New Haven guarantee, likewise made & new top for this year. The Missouri Pacific 43 were one of the most active o the entire list, but their price movement_was much more moderate. 5 Chicago Eastern Illinois 5s contin- ued its recovery. All the St. Paul bonds were active and higher, in keep- ing with the advance in the preferred stock. Seaboard adjustments, 6s and refunding 4s, made smaller gains. French Insues Higher. In the high-grade investment ou net changes were almost entirely frac Honal, Jcor the present, attention has n diverted from the I the speculative bonds. Y mentite X bonds were only about Ateadyc ench lssues were a trifle : e arfeaca outh American group oday’s new issues included $2,500,- 000 Plankington Building, Mllw’l;.llg:'e firsts mortgage leasehold 6%s at par o’ 0,000 State of Delaware 4 per gent highway bonds due 1926, also’at rly Trading ia Bonds . By the Associated Press. NEW YORK, July Issues led an upward bond prices today. els were established in the specu- lative rail group. with New Haven and Chicago and Alton liens mount- 3 o 1% points to 192 ekt T 0 1924 top Smaller gains were Baltimore and Ohio 4s, Erie Consoliy dated 4x. St. Paul Convertible 5u and Refunding 4':s and Seaboard s and Adjustment 55, Third Avenue Railwgy Adjustment 5s spurted 2 points to 57, the year's peak price. Improvement in French and Brazilian issues im- parted a firmer tone to the forelgn ist. AUTO SALES IMPROVE. Cleveland Reports 20 Per Cent Gain in Three Months. Special Dispatch to The Star. CLEVELAND, July 21.—Cleveland automobile dealers report a 20 per cent increase over last vear in retail sales during the months of April, May and June. This is noteworthy, ace cording to Herbert Buckman, man- ager of the Cleveland Automobile Manufacturers and Dealers’ Associa. tion. in view of the slackening of general business. The figures are based on_bills of sale at the county clerk’s office and show at 12,762 new cars sold during the quarter, com. pared with 10.713 in the correspond- ing period last year. LIVE POULTRY LOWER. CHICAGO, July 21.—Butter—Low- receipts, 1,542 packages; creamery standard, 37%; extra firsts, firsts, 35a351%; econds, 33a Eggs—Receipts, 21,514 cases; un- changed; firsts, 25a26; ordinary firsts, 24a2433; storage pack firsts, 26%. Poultry—Steady to 1 cent lower on heavy broilers: fowls, 16a20%%; broil- ers, 28a34; roosters, 14. 21. — Railroad movement of Higher price lev- recorded by PARIS BOURSE WEAK. PARIS, July 21.—Prices were heavy on the Bourse today. Three per cent rentes, 52 francs 85 centimes. Ex- change on London, 84 francs 75 cen- times. Five per cent loan, 68 francs 20 centimes. The dollar was quoted at 19 francs 34% centimes. NEW YORK EGG PRICES. NEW YORK, July 21.—Eggs firm, receipts, 5.091: fresh gathered, extra firsts, 30a32; do, firsts, 28%a291; do, seconds and pooi 26a28; nearby hennery whites, closely selected ex- tras, 41a44; nearby and nearby western hennery whites, firsts to average extras, 35a40; nearby hennery browns, extras, 36a42; Pacific_coast whites, extras, 3912a40; do, firsts to extra firsts, 32a38. WOOL DEMAND ACTIVE. BOSTON, July 21, (Special).—De- mand for wool, especially the finer grades, continued active here today with considerable poundage moving from dealers to mills in anticipation of light weight goods requirements. Fine and medium staple territory showed a slight advance in asking prices and reports from the West in- dicate that the larger part of the 1924 clips have been well cleaned up in Montana and Texas. P . RATES ON BAR SILVER. LONDON, July 21.—Bar silver, 34%d per ounce. Money, 1% per cent. Discount rates—Short bills, 3%a3i per cent; three-month bills, 3 11-16a 3% per cent. NEW_YORK, July 21.—Bar silver, 67%. Mexican dollars 51%. USSteel (16) 100% 102 100% 102 USSteel pf (7).. 122 122% 122 Universal Pipe... 14% 14 Universal P pt(7). 50% Utah Copper (4).. 74 Utah Securities.. 28% 21% Vanadrum Corp. West Maryland. . West Mary 2d pf. Wi White Mot (4). Wickwire Sp 8t ‘Wilson & Co..... Willys-Overland. Willys-Over ot. .. roolworth B (3 {Partly extra. Pasable in preferred stock. Dividend rates as given in above table ulneuulengr.unm' ts based on the -yearly declarations. moted, extra er special it st “hermiae gividents are ot [ovvervoe BONDS s Received &y Private Wire Direct to The Star Office. (Bales are in §1,000,) UNITED STATES BONDS. {Fractions re| nt thirty-seconds. Example: 101-3 means 1013 = Sales. High. Low. lose. . 612 101-16 10111 101-15 141 1028 102-1 102+7 .. 566 101-20 101-14 101-19 . 208 102-10 1028 102-8 Lib4th 44s. 1011 10211 102-4 102-9 UB4Ka1983, 56 104-28 104-26 104-28 FOREIQN. Argentine ¢s°37. Argentine 7s. . Austria 78 Belgium 6 1926.... 3 Cunada 538 1929. . Canada 5s 1952 Chile 78 1943. Chile 85 1926. Chil Denmark Denmark 8s Dutch Easat I Dutch East I 6s'62. El Salvador 8s '48. Finland s 65 1945. Framerican 7%s.. 1 French Govt 7% French Govt 8s Haiti 6s..... Holland-Ame; Hungary 6%s Jupanese 6%s. ... Jergens U M 68°47. Mexico 58 assented 14 Montevideo 7s..... T Netherlands 63 Netherlands 63 Norway 6s 1943 Norway 6s 1952 Queensland Queensland 7s. . Rio de Jan 88 1946. Rio de Jan 85 1947. Sao Paulo City 8s.. Sao Paulo State §3. Seine Dept of 7s. Serbs Crotes Slo 12 @ ~RAcatane 1 Ud Kingm 5%s'37. 58 Ud Steam Copen 63 Urugay 8s 1 Zurich 88 1 MISCELLANEOUS. Ajax Rubberss... 4 86% Am Agr Chem %8 19 88 AmChainsf6s'33. 6 94% Am Repubdeb6s.. 9 923 Am SmIt&R 15t 55. 24 944 Am SmIt&R 6: 83 105% Am Sugref6s. ... 18 1004 AmT& Teltrds.. 20 97% AmT& TcltrSs.. 37 101% Am T & T deb 6%3. AmT & Tcv6s.... Am Water Wks 6. Am Writ Paper 6s. Anaconda 1st 6s. .. Anaconda cv db 7s. Armour & Co 4%s. Armour of Del %3 46 91% Associated Oil 6s.. 67 100% Bell Tel Pa bs. 4 100 Beth Steel pmbs.. 2 88% Beth Steel rf6s.... 1 94% Beth Steel 5%8'53. 9 884 Beth Steel s £ 6s... 40 96 Brier HSt 1st5%s 2 97% Bklyn Edison 7s D. 2 110 Bush T Bldg 58'60. 2 97% Calif Pete 6%s.... 22 98% Can Gen El deb 6s. 1 105% Central Leather 65 12 99% Chile Copper 6s... 57 103 Col Gas & El 5s sta. Commonwth P 6s.. Con Coal Md 1st 53 Consumers Pow bs. Cuban-Am Sug Cuba Cane cv 7s '30 Cuba Cane cvd 8z. Dery (DG) 7s..... Denver Gag Det Edison re: Du Pontde N 7% Dugquesne Light 6s. Est Cuba Sug 7 Empire G&F 1% Fisk Rubber 8s Goodrich 63%s. Goodyear 8s 1931 Goodyear 8s 1941.. Hershey 651942... Humble O&R §%s. Illinots Beil 1st 55. 2 Illinots Steel 4% Int Mer Marine 6 Inter Paper 6s'47.. KCP&Lt5s A'52. Kan G & E1 68°62... Kayser (J) Kelly-Spring Lackawa S 55 '60. . Liggett & Myrs 5s. Liggett & Myrs 7s. Lorillard (P) 5s... Lorillard (P) Ts... Magma Cop cv 7s.. Manati Sug st 7%s Mexican Petrul 8 Midvale Steel 5s. Montana Power bs. Morris&Co 1st 4145 12 90% 10 97% 1 us 13 79% 12 101 13 112% 5 86 5 106% 38 107% 11 964 16 100% L1494 Nor States Pow 6s. 1 103% Nortawst B Tel 7s. Otis Steel 7 Otis Steel 83 Pacific Gas & Ei bs Pac Tel & Tel 5s. ... Pacific T & T 53°52 Pan-Am Pete 78 Phil & Rdg C&I 53, Plerce-Arrow 8s.. Plerce Oil deb 8s. Public Service 6s. . PubSery Elecs.. - nta Alegre 7s. .. f{:bina &M1stTs. Saks & Cosf 7a. Sharon Stl1 H 8s. Sinclair Oil 6% Sinclair Oil 7 Sin Crude Oil 5%3. Sin Crude O1l 6: Sin Pipe Line bs. So Por Rico Sug South Bell Tel &2 Southwest Bell 6: Steel & Tube 78, Va-Car Chem 7 Va-Car Cb 1%8 W. Vertlentes Sug 7 Warner Sug 78°39. Warner Sug 78 ‘4. Western Elec b ‘Western Union 6% ‘Westinghouse 78.. 1 Wickwire Spen 7 ‘Wilson & Co st Wilson & Co cv 6s. ‘Winchester A 7% Toungain 5& T 6s. 1 RAILROADS, Atchison adj 4 Atchison gen 4s. Buff R&PItt 4% Canad North 638, Canad North 7 Chi B&Q 1strfbs.. 6 Chi B&Q gn 4s°68. 12 CB&Q-Illdivés.. 5 Chi & E 11l gn Bs. . 1. Chi Great West 48, CM & Puget Sd 43 Chi M & St°P 4: Chi M&St P 4s k¢ ChiM&St Pcviks 8 CM&StPgni%s 2 Chbi M&St P rf 4%s112 ChiM &St P cv 11 65 Colo & Sou 4% CubaRRSs.. Del & Hd 1st rf 4s. D & Rio G Imp 6s.. Del & Hudson 5%s. Den & Rio G cn Erie 1st con 43 Erie gen 4s... Erle conv 4s A Erieconv 4s B Erfe Genessee R 63 10 Erie (Pa) cittr4s. 1 Gr Trunk sfdbés. 6 Grand Trunk 7s... 10 Great North §s.... 32 Gr North gen 5%s. 38 Gr North gen 7s. .. Green B & W db B. Havana ERL&P 53 Hud & Man ref bs.. 3 Hud & Man aj 6s.. 68 111 Central ref 4s.. Int & G Nor 1st Int & G Nor aj 6i Towa Cent rf 4 Kan City Ft S 4 Kansas City 8 Kansas City S Kan City Term 4s. Lake Shore 4s'31.. 12 Louis & Nash 7s... 2 Manhat Ry cn 4s.. f' 81y B 88Y% 108% 103% 82 82 101% 101% 60% 61% B3k ¥3% ¥4 9EW 2% 924 o9 E5% ~ 85% 4% 94K 99% ¥9% 108% 108% Mo Pactfic 68 Montrl Tm 18t 5s. N O Tex & M in 5 N Y Cent cn 4s 9| N Y Cent deb 4 N Y Centr 15 N Y Cent deb N Y CenLSclit%s NYChi&SL5%s. 47 NYC&StL6sA.. 30 New Haven d 48 °'67 11 New Haven cd 6s. 112 N d 5! N Y Ry rf és ctfs New York Ry aj New York Ry rf 48 N Y Rysadjbsct.. N Y State Ry 4%s. NY W & Bos 4%8. Norfolk & W cn Norfolk & W cv Northern Pac 3s.. Northern Pac 4s.... Northern Pac bs D. Nortarn Pacr 1 6s. Ore & Calif 15t 6s.. Ore Short Lref 4s. Ore Sht L cn 5s '46. Ore-Wash 1st It 48 Pennsyl gen 4% RIArk& L 4%s St L IM&S 4829 Sou Pacific 48'29.. 56 Sou Pacific clt 4 1 Sou Pacificret Southern Ry gn Southern Ry 1st 55 10 Southern Ry ésct. 8 Southern Ry 6% 18 Sou Ry Mobile 4s.. 6 Third Ave adj 6s.. 139 Tol StL & W 4i 4 Toledo Trac 6s Union Pac1st 48 Union Paclstrfds 3 Union Pacific 43°27 5 Union Pacificev 68 4 Virginia Ry 1st 6s. 86 VaRy &P lstba.. 10 Western Md da.... 37 63% Western Pacificbs. 11 894 West Shore lat4s. 1 884 Whel . LErf4%s 1 65% = GRAIN EXPORTS DROP. Commerce Department Reports Slump in Week’s Shipments. Exports of grain from the United States last week totaled 1,871,000 bushels, against 1,372,000 bushels for the previous week. The Commerce Department today made public the figures for last week, 25 compared with the previous week, follows: B8 heat, . 807,000 bushels, againet 208,000: corn, '107,000, against . §2,000; 642,000, against 137,000; oats, t' 34,000; 315,000, Sani .000. Unifed States and Canadian wheat flour in tranait, 104, 800 barrels, sgalnst 83% 65% ivariance with all 55 ts0on showed losses. FINANCIA 200-POINT ADVANCE INCOTTON MARKET October Jumps as High as Rules Allow in One Day—Due to Government Forecast. By the Associated Pres: NEW YORK, July 21.—Cotton Jumped 180 to 200 points in the local market today on publication of the government forcast. October ad- vanced to 27.65, above which figure further trading was prohibited under the rules of the exchange. Buying was very heavy. After reacting 40 to 50 points from top prices under realizing sales, the market became firm. The closing was only about 25 points under the top price and 141 to 148 points above Sat- urday’s close. Cotton futures closed steady. High. Low. ¥ .3315 3115 o 26, 2485 Opening: _July, 31.25: October, 25.88: De- cember, 25.00; January, 24.85; March, 25.12. $10 Per Bale Advance. NEW ORLEANS, July 21.—Follow- ing announcement of the government crop report on condition of the cotton crop, cotton futures soared 200 points on the exchange, October advancing to 26.80 and December 26.65, a gain of about $10 per bale. The condition of 68, with an estimated crop of 11,- 934,000 bales, proved lower than an- ticipated. Cotton futures closed very steady at net ad vance of 90 to 148 points. Low Close. July 00 28.40 October L2858 2408 L2660 2460 2635 bid pe: July, 27.95, asked: October, 25.00. December, 24.84; January, 24.73; March, 24.52 REPORT PROVES STARTLING. ‘Washington Figures Surprise Ex- perts in Cotton Trade. Special Dispateh to The Star. NEW YORK, July 21.—Washington furnished the cotton trade with another surprise today when, instead of the anticipated improvement, the department placed condition at 68.5, compared with 71.2 on June 2. The indicated yield was cut from 12,144,- 000 bales last month to 11,934,000, and the report proved complet at private informa- tion and estimates. The average guess of 78 members of the exchange had been 71.6, while private agencies had, without excep- tion, raised their June 25 estimates. The' heavy decline in figures came from a 17 point loss in North Caro- lina, a 10 point loss in South Caro- lina, and a 12 point reduction in Louisiana. Effects on the market were the most decided of the year. CHICAGO GRAIN PRICES. CHICAGO, July 21.—Rain_ reports from the Canadian Northwest tended to ease down the wheat market today during the early dealings. Commis- sion houses were the chief sellers. 5% | There was also considerable selling which appeared to come from hedges. The opening, which ranged from one-fourth cent decline to half ad- nce with September 1.26% to 1.27, and December 1.29% to 1.29%, was followed by a material set-back all around. Higher temperatures had a bearish influence on corn. After opening one- eighth to 1% lower, September 1.04 to 1.04%. the market underwent a de- cided further drop. Oats sympathized with the weak- ness of corn and wheat. Starting at three-eights off to one-eighth gain. September to 47%, ail months Higher quotat lift to provisions. 9 ns on hogs gave a g 1 34 & L 1 1 1 1. 1 1. 1 P 14 HFLE FEE RFE 5 244 g3 35k 223 8 11.00 CHICAGO LIVE STOCK MARKET. CHICAGO, July 21 (United States Department ' of " Agriculture).—Hogs— Receipts, 57,000 head; active; generally 20 to 30 higher: top, 8.50; very active shipping demand; bulk good and choice 160 to 320 pound averages, 8.20a8.50; sirable 140 to 1350 pounds, 7.75a8.10; packing sows, 7.35a7.70; better strong weight slaughter pigs, 6.75a7.2! Cattle—Receipts, 20,000 head: better grades weighty fed steers, fat cows and long fed helfers scarce; strong to 15 higher: spots more; quality generally poor; Killing quality’ generaily medium; low grades slow, about steady; some plain year yearlings weak to lower; early top matured steers, 11.00; handyweight upward to 10.50; shipping demand fairly broad; bulls active, firm; 10 higher; best heavy bolognas, 5.00: vealers un. even, bulk better grades 9.00a9.50; pack- ers paying upward to 10.00 for a few choice ~ kinds: hand-picked offerings, 1050 and above to shippers; run in- cludes about 25 loads Montana grass steers; first consignment of season. Sheep—Receipts, 22,000 head: slow: few early sales*native lambs, 25 to 50 lower: few native, 13.50a14.00; no action on culls; bidding around 25 to 50 lower on westerns; no early sales; sheep and feeder prospects steady. GRAIN AND PROVISIONS. BALTIMORE, July 21 (Special) tatoes rew, barrel, 1.00a2.75: bushel, 1.00; beans, bushel, 1.252.85; beets, 100 3.00a5.00; cabbage, 100, 3.0025.00; rots, 100, 4.0026.00; corn, crate, 3 celery, bunch, 50a1.25; cucum- bers, basket, 75a85; eggplant, crate, 1.50a5.50; lima beans, bushel, 4.00a 5.00: lettuce, bushel, 50a1.00; onions, bushel, 1.50a1.75; peas, bushel, 2.00a 2.50; ' peppers, = basket, 2.00a2.50; spinach. basket, 2.00; rhubarb, 100, 3.00ad 00; = radishes, 100, °1.50a3.00: squash, basket, 75a1.00; tomatoes, bas. ket, 3.00a4.00. & Apples, barrel, 1.50a3.50; bushel, 50a 1.75; cherries, pound, 5a15; blackber- ries, quart, 10al4; pineapples, crate, 2.5084.00; huckleberries, quart, 15a18; plums, basket, 50a1.00; beaches, crate, 5a1.50; melons, 100, 15.00240.00; can- taloupes, crate, 1.00a3.50; raspberries, pint, 12al5. Settling Prices on Gral Wheat—No. 2 red winter, spot, 1.34; No. 2 red winter, garlicky, 1.29%; No. .3 red winter, garlicky, 1.26%. Sales—None. Corn—Cob, new, 5.50a6.00 per bar- rel for yellow and 5.35a5.50 per barrel for white: No. 2 corn, spot, 1.09; No. 3, no quotation; track corn, yeilow, No. 2, 1.25. Sales—None. Oats—No. 2 white, 65%a66; No. 3 white, new, 643a65. Byé—Nedrby, 90; No. 2 spot, 91%. Hay—Receipts, 18 tons. The local hay market is amply supplied with both grades and kinds and the move- ment of old hay has been so sluggish that dealers have refrained from en- couraging shipment of new hay. The poorer qualities of grassy, weedy add dark mixed hay are particularly hard to dispose of. ‘Quotation 1 timothy, 28.00; No. 2, 26.0 No. 3, 22.00a24.00} , mixed, 25.00a25.50; rye, No. 1'light clove: No. 2 light clover mixed, 23.00a24.00} No. 1 clover mixed, 24.00a24.50; No. 3 clover, 21.00a22.00. Straw—No. 1 straight rye, 23.00a 24.00 per ton; No. 1 tangled rye, 18.00 220.00; No. 1 wheat, 17.00a17.50; No. oat, 16.50a17.00, RALVAY COMMON OF OVER3 PONTS Local Stock Takes Tumble Today—Capital Traction in Fractional Rise. BY CHAS. P. SHAEFFER. Common stock of the Washington Railway and Electric Company to- day proved conclustvely its right to the title of the most speculative is- sue on the Washington Stock kx- change. After reaching its highest hgure in many years last week the stock this morning took an abrupt tumble which lowered its quotation to 757% at the session's close, a net loss of half a point on the day and & drop of 3% points over the previous close The ‘drop was precipitate, the aay s opening sale being made at ina, Only eighty shares changed hands. The remainder of the list was steady to firmer. Capital Traction advanced fractionally to 943 on small -~ sales, and Commercial Na- tional Bank was unchanged at i4u. Riggs sold at 291 and Lanston Mono- type registered a stight advance to 7. Merchants' Transfer and Storage had one sale at 110% and Railway pre- ferred sold at 75%. Gas was off siightly L orfolk and Washingto amboat at 214%z. Mergenthaler hel steady at Bonds were dull and unchanged. Few New Bond Offerings. Anticipated bond activity this week as was the case last, will be limite by a relatively small output of new issues, with a diversion of interest to the stock market. This is the gen eral consensus locally. Investment bankers conditions as favorable sorption of new secur priced. but no great vo! ness is on the horizon. A few offer- ings a on the schedule for flotation this week, but many others are heid back for one reason or another. Several South American offcrings are in the state of preparation, but these have been temporarily defer- red by the Brazilian outbreak. Of these the Argentine financing is the most important. It is now pressing. however, as the notes still have u month to maturity. oday an offering of $500.000 of tne State of Delaware i way bonds, due J being made at 100 and interest Ready to Handle Freight. In anticipation of a heavy treight trafic due to the seaso crease in the movement of crop fuel, class 1 railroad July had '7.117 serviceable locomotives storage and in readiness for creased demand on motive power, ac- cording to the American Railwa sociation This represents an crease of 206 over the number June 15, and is the largest number held in sStorage since May 15 Locomotives in need of repair on July 1 totaled 11,034, or 17.1 per cent of the number on line. Leith Wins Essay Prize. T. Hunton Leith, vice president of the Washington Chapter, American Institute of Banking, was awarded first prize at the concluding session of the national convention at Balti- more last week for the best article urging membership in the national od still regard to the ab ies properly me of busi- on Leith was chairman of the p committee of the local chapter when the article was penned. Incidentially, he was primarily re- sponsible for the large increase local membership two vears ago. when a campaign of several wecks was under wa MERGER VOTE PLANNED. NEW YORK, Jul. of the Colorado Power Company and the Public Service Company of Colo- rado, public utility subsidiaries of the Cities Service Company., will vote on a proposed merger of the properties on September 3. Through an ex- change of stock. holders of Colorado Power preferred will receive an equal number of shares of Public cent first preferred. For ado Power common share of $37 par value in Public Service preférred is tendered. IMPORTS EXCEED EXPORTS. BUENOS AIRES, July 21 tina's foreign _trade amounted to 1,639, or an increase of 2 0.000 pesos as compared with the 1922 figures. This is shown in a government report just issued, which indicates that importa- tions amounted to 868.000,000 pesos while exportations reached 771,000,000 Dpesos. DISPUTE HALTS BUILDING. HOUSTON, Tex.. July 21 (Special) —Construction work on several buildings here is held up by a con- troversy between union carpenters and metal workers over hanging metal doors. The strike of hoisting engineers has been settled, the men returning at the old scale of $5.50 a day. PSS FREIGHT RATES CUT. CLEVELAND, July 21 (Special).— Freight rates between Cleveland and Detroit and between Detroit and Buf- falo have been reduced 20 per cent by the Detroit and Cleveland Navi- gation Company. This applies to au- tomobiles and package freight and is taken here to indicate a decrease in business. DAIRY PRODUCTS. BALTIMORE, July 21 (Special).— Poultry Spring chickens, pound, 35ail; leghorns, 30; old hens, 13a6; leg: horns, old, 15a20; old roosters, 15; ducks. 15a20; uigeons, pair, 30a35; Spring. (Loss off)—Native and nearby firsts, dozen, 27: southern, 26. Butter creamery good to fancy pound, 39a. prints, 42a44; nearby creamery. 35a38; ladles, 30a32; store packed 29; process butter, 34a35. = e BOSTON STOCK MARKET. BOSTON, July 21.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt,in here: High Close Am Sugar . 3 4% Tel & Tel Tel & Tel ris ' Wool . - Amosks 3 Arcadian_ Cons Arizona Com ... Roston & Albany Boston & M ) ¢ Carson Hill Min Connor J T . Copper ‘Range Butte 0ld Colony . Pacific Mill