Evening Star Newspaper, July 22, 1924, Page 18

- 8 * NEW HEH RECORDS INMETAL GROUP Steel Common and Oil Shares Also Pushed Forward in Final Trading. BY STUART P. Special Dispatch to The Star. NEW YORK, July 22.—There were intervals of rather uncertain price movements on the stock market to- day, although the trend was still up- ward. In speculative quarters the utmost confidence was still manifest and the selling which occurred was regarded as only a temporary but natural condition following the rapid upturn in a succession of million- share day: Railroad and metal shares attracted particular attention and the oils had a fresh advance as the Street took the view that -at their recent lows they had discount- ed rather compietely she bad. news in the oil trade. Metal Group Strong. New high prices were reached throughout the metal group, the features being American Smelting and Refining, Kennecott, Cerro de Pasco and Chile. Some people had Leen looking for a higher dividend on Chile Copper, but when the regu- lar 62 cents quarterly distribution was voted around midday, Chile stock reflected no disappointment at the action. Inspiration also made a new , and there w continued buying of American Metal, Federal Mining and Smelting preferred, and practi- every other metal stock. The of companies having silver as I as copper production were again e of the recent upturn IWer prices The likelihood of a favorable ad- justment of the reparations situation jvas still the outstanding influence in the market for the copper and re- lated sharesfl Also much was made of the reduced supplies of copper metal and the more satisfactory op- erating conditions which have de- veloped at the producing centers. Rail Shares Less Acti . Bullish enthusiasm in the railway shares quieted down somewhat, for technical market reasons. Interests which had effectively sponsored the railway stocks in the past few weeks were resting a_ bit pending the ab- sorption of realizing and the exten- sion of operations for the rise to other quarters of the list. Great Northern preferred was a feature at jts highest for the vear following the Dublication of the six months' income account, which made a rather favora- ble showing. There was a balance of $1.04 a share. against 37 cents a share in the first half of 1923. Union Pacific and New York Central were bid up to fresh tops and Canadian Pacific was in demand. St. Paul pre- bove 28 was a feature. the foreign exchanges and which furnished the features of the financial situation today rather than stocks or commodities, although there were points cf interest in all the markets. Discussion was renewed today of the possibility of a further cut in the rediscount rate of the New York Fed- eral Reserve Bank. Sterling in Sharp Rise. The notable thing in the foreign exchanges was the advance in ster- ling to a new high record for the year, with sympathetic gains for other European currencies. The rise in sterling was generally ascribed to optimism over the outlook of the Lon- don conferences. The day's rise in sterling verged upon the spectacular, the gain at one time being more than 2 cents and fully & cent above the previous high for the vear reached in April. American Metal's advance has been in keeping with the movement in the metal shares generally, but at the same time it has had favorable earnings to justify it. In the first £ix months American Metal carned its full year's dividend. Mack Trucks’ Earnings. Preliminary estimates of Mack Trucks' net income for the first half year indicate only a small falling off from the record earnings of the same period a year ago. There was a balance on the common stock after all charges and preferred dividend requirement of approximately $10.50 & share. In the first six months of 1923 the net equaled $12.23 a share on the common. During the afternoon the campaign for higher prices was carried on with renewed vigor. Steel common ros: to its highest for the current mo ment and there was a persistent de- mand for the copper and other metal shares. The oils were also bid up. MAREKET CLOSES.STRONG. WEST. New Issues Brought Forward in Last Two Hours. By the Associated Press. NEW YORK, July 22.—Stock prices gave another impressive demonstra tion of strength today in reflection of the favorable reparations new: higher copper and zinc prices and reports of increased business activit Coppers and ralls again led the ad- vance, but oils shares developed un- expected strength in tne face of fur- ther gasoline price cuts. = Sales ap- proximated 1,200,000 shares. The closing was strong. A few ues fell back on profit taking in the late trading. but new leaders were brought forward, New Haven selling well above 29 at a new high for the year. Markets at a Glance NEW YORK.—Stocks higher; cop- pers and rails lead advance. Bonds firm; copper, traction and second- grade rail issues active. Foreign ex- changes strong; sterling crosses, 4.41 10 1924 top price. Cotton unsettled; rain in western Texas. Sugar fea- tureless. Coffee firm; higher spot markets. CHICAGO.—Wheat easier; additional rains in Spring crop territory. Corn lower; warmer weather. Cattle high. er on light receipts. Hogs stron highest since September, 1923, BIG POTATO SHIPMENTS. FREDERICKSBURG, Va, July 22 (Special).—Lower Middlesex County has taken up growing potatoes on an extensive scale. Mill Creek and North ¥nd wharves have been scenes of heavy shipments the past two weeks. ©One day 1.800 barrels were put aboard the steamer at North End wharf, and almost as many were left at Mill Creek one day, after the steamer had loaded. RICH POTASH STRIKE. MIDLAND, Tex., July 22 (Special). «—Chemists_declare that the richest strike of potash yet made in_this state appears in the new well of.the Texas Developing Company south of here, which has encountered the potash stratum at a depth of 710 feet. - 1o COFFEE SUPPLIES LOW. CHICAGO, July 22 (Special).—Cof- fee merchants here report that they have only a limited supply in their warehouses, and are concerned over possibility of stocking up should the Brazilian revolution continue. FINANCIAL, Adams Exp (8)." Adv. Rumley. Adv Rum pf (3). Alr Reduct (4) AJax Rubber. ... AlasGold Mines Allied Chem (4) Allis-Chalm (4).. Mopf (7). Am Agricul Chm. ‘| AmAgriChempt Am Beet Sug (4) Am Bosch. © AmBrS&F Am Can (16). Am Can pt (7) Am Car & Fy(12 Am Chain A (2).. Am Chicl, Am Drug Synd.. Am Express (¢ Am & F P 25%(7) Am For P f pd(T) Am Hide & Lea. Am Hide & Lpt. . Am Ice (73 Am Internatl, Am LaF F E(1 Am Linseed. Am Linseed pf. Am Locomn (), Am Loco pt (7). Am Metal (3)... Am Metal pf (T) Am Saf R (50c), Am Ship & Com. Am Sm & Re (5). AmS & Rpf (7). Am St] Fdva (33 Am Stl Fpf (7). Am Sugar....... Am Sugar pf (7) Am Sumat Tob. . AmT & Tel (9).. AmTel & Tel rts. Am Tobac (12). Am TobB (12).. Am Tob pt (6).. Am Water Wka Am W W bt (6). Am W W Ist (7). Am Woolen (7). Am Wool pt (7). Am Writ Pap pt. Am Zine. Am Zinc pt Anaconda. . ... Ann Arbor,pf. Arn Cona & Co. .. Asso Dry G (5).. Ass0 Ol (1%) ... AtT&SFo (6).. AT&SFpf (5). At] Birm & At... Atl Coast i (18). Atlan Frult cfs.. AtGulf& WI... AtGult & W 1pt Atlan Ref (4)... Atlan Ref pf (7). Atlas Powd (4). Atl Powd pf (6). Atlas Tack.. Austin-Nichol. Bald Loco (7). Bal & Ohlo (5)... Bal & Oh pt (4). Barnadall A Barnsdall B. Bayuk Cigar. ... B'ch Nut (2.40).. Beth Steel (5) . Beth Stl pf (7). Beth Stl pf (8) Booth Fisheries. . Brk Edison (8).. Br'k-Man Tran Br Man T pt (6). BrklynUnG (4) Brown Shoe (4).. Burns Br (10). .. Burns Br B (2).. Butte C & Zinc Butie&Superior Butterick Co. ... Cal Pet (1%)... Cal Pet pf (7). Callaban 2 Lead. Calu& Ariz (2).. Calumet & H 50c. Can Pacific €10). Case Threshire. . Case Thre'g pf. . . Cent Leather Co. Cent Lea Coof . . Cerro de Pasco(3) Chand Mot (6).. Ches & Ohlo (4)... Ch&Opf(6%).. Chicago & Alton... Chic & Alton pf.. Chic Gt West. Chic Gt West pt. . €n Mil & St Paul. Ch Mil & St. P pf. Chi & Nwn (4). Ch PneuT (5). ChicR1& Pac... CRI&PDL(6).. CRI&PDL (D). ChStPMin&O.. Chi Yellow C (4). Chile Cop (2%) Chino Copper . CCC&StL(5).. Cluett, Peab 5). Coca-Cola (1) ;. Colo Fuel & Iron. Colo Southern. ... Col G & E (2.60).. Com Solv A (4) Com Solv B. Congoleum (3) . Consol Gas (5 Consoj Textil Cont Can (4). Corn Products. .. Corn PrRpf (7). Cosden Co. : Crucible St Cub Am Sug (3) Cuban Cane Sug. Cub Cane Su pf.. Cub Dom Sug pf. . Cuyamel Fr (4)... Dan: Boone M (3) Davideon Chem. . D're& Copt (3).. Del & Hud (9) ... Dol L&W (8)... Dome Mines (2).. Dul So Sh & Atl. . DulSS&Atpf... DuPtds N (8)... Eastman (16%). Eaton Ax (1.60).. B Stor Bat (4).. Elk Horn Coal End-John (5) Erie 18t pf. Erie 24 pf.. Fairbanks (2.60).. Femous Pl (8)... Famous P] pf (8). FdM&Spt (7).. Fifth Av B (64c). Fish BOpf (8).. Fisk Rubber..... Fleishman (3)... Foundation (6).. Freeport-Texas. . Gardner Motor. .. Gen Am T C (3).. Gen Asphalt,...,. Gen Cigar (8)... General Elec (8 Gen El spe (80c). Gen Mot (1.30)... Gen Mot db (8).. Gen Mot &% (7) Gen Petm (2) Gen Refrac (2)... Gimbel Brpt (7). Goodrich pf F"‘" Plocoee Fayear prpt (8). Granby Coneol. . . Gray & Davis. Gt North pt (5).. Gr Nor Ore (3)... Grt Wstn Su (8) - Gr Canan Cop. Gulf Mo & Nor... Gu Mo & N pf (5) Gult 8t 8tl (5)... Haruman Co (§) Hayes Wh'l (3).. NEW YORK EGG PRICES. NEW YORK, July 22—Eggs— Steady to firm; receipts, 33.311 cases. Nearby hennery whites, closely se- lected extras, 43a46; nearby and near- by western hennery whites, firsts to average extras, 35a42; nearby hen- nery browns, extras, 37a44; Pacific coast whites, extras, 40a41; do firsts 1o extra firsts, 33a38. Homestake( 7).. Houston Ofl..... Hud Mot C (3)... Hupp Mot C (1)... Hydraulic Steel. . Iilinors Cent (7). LiCentpf (6)... Indep OUl (1).. . Open. High. 88% 10% 87 81% 84 w 1% 5% 97 11% 33% 40 29% 82 Cns% . 115% ). 173 22 20% 5 112 105% 105% 9 66% 9215 28 10% 19% 39t ROYy - 120 45 12 % 13% 691 248% 11% 14% 86 26 43% 34% 102 ° 38 14 20% 75% 53% 95 1% 5 67% 30 0% 16% 21% 70 2% 31% 86 42% 1% 26% 13% % 110% Low. Close. 88% 89 10% 10% 37 37 81% 824 84 89 10% 87 82% 8% " 7% 87% 97 1% 34n a1 29% 82 119% 115% 173 22 20% 5 12 105% 108% 9 56% 92% 23% 10% 112% 112% 7 THE _EVENING STAR, WASHINGTON, D. C, TUESDAY, JULY 22, 1924. [ vone BONDS e o] . Recelved by Private Wire Direct to The Star Office.” Open. High. [ndian Refining. . Iniand 8tl (23%).. Inspire.ion 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. 38 Internat Nickel.. 18 Inter Nick pf (6). 87% Internat Paper... B56W Int Pap pf st (6). 74w Int T& T (6) 1% Invincible Ofl.... 12% Jewel Tea. e 19 Kan City Scuth.. 23% Kayser Jul & Co.. 25 Kayser pf (8).... 86% Keily Spr Tire. .. Kelsey Whl (6) Kenne Cop (3) Keystone T & R. . Kinney G R Co. Kinrey pf (§)... Kresge Dept Stor. Laclede Gas (7) Lee Rub & Tire. . Leh Val (33). Lig & Myrs (3). Lig & Mvrs B (3) Lima Loco {4)..... Loews Inc (2. Loft, Incorpor. ... Loose-Wiies Bi Lorrillard @3).... Louis & N'sh (§) MclIntyre (75c).. Mack Trucks (6). Mack T 18t (7). Macy & C pf (7). Magma Copper. . Mailinson & Co Man ElSup (4).. Man El modgtd ¢ Manhat Shirt (3) Maracaibo Oil. Marland Oll...... Mathieson Alkall Maxwell Mot A.. Maxwell Mot B. May Dpt St (5) Metro Ed pf (7). Mex Seaboard(2). MexSeabd ctfs(2) Miami Cop (2) Middle St Oil. . Midl'd Prod pf(8) Minn & St Louls. . Mis Kan & Tex. .. Mis K & Tex pf. Missouri Pacific. Missour Pac pf.. Mont Power (4) . Montgom Ward. . A*a0n Mot (3). Mother Lode 75c. Mullins Body. . ... Munsingw'r (3).. Nash Mot (183%). Nat Biscuit (3).. Nat Bis pf (7) Nat Dairy (3). Nat En & St. Nat Lead (8) Nat Lead pf ( Nat Ry.M 2d pf. . Nat Supply (3).. Nev Cons Cop. ... NewO,T&M 123t NYAirBr4)... NYABraA@.. N Y Canners (2). N X Central (7). . N Y C & StL (6) * Ny C&StL pf (6). N Y Dock. . . . NY NH & Rart N YOnt& West.. Niagara F pf (7). Norfolk South. .. Norf& W (18)... North Aneer (2).. North Am pf (3).. North Pac (). . Ohio Body & Bl . Oh F Sup (2%). Okla Pr & Ref. . Orpheum (1%).. Otis Elev (n) (4) Otis Steel. . Otis Steel pf. Owens Bot (3) Pacific Develp. .. PacG & E (8). Pacific Oil (2). Packard (1.20).. Packard pf (7).. Pan Amer (4). Pan Amer B (4). Panhan Pr& Re. Park & Tilford. .. Penn Railrd (3). Penn Seab Steel.. Peop Gas Ch (7). Peoria & East. Pere Marq (4). Pere Mar pf (5 Pere M prpf (5). Phila Co (4).. Phila Co pf (3).. Phila& R&I.... Phillips Jones. Phillips Pet (2).. Pierce-Arrow.. .. Plerce-Arrow p Plerce OIl. . Plerce Oil pf. ... Pitts Coal pf (6). Pitts UL € L.65.. Pitts & West ¥ P& W Vapf (6). Postum Cer (4).. Press St1C (4) Prod & Refiners. . Pub Ser NJ (4).. Public Serv rts. PubSNJpf (8).. Pullman Co (8).. Punta Al Su (5. Pure Oll (1%)... Pure Ol pf (8)... RSICecfs (4) Ry Stl Spg (8) Ray Cons Cop. Reacing (4)..... Reading rts. ... Read 1st pf (JV.. Read 2d pf (2) Remington Type. Replogle Steel... Rep Ir & Steel... Reynolds Spr (2) Rey Tob B (3)... Rey Tob pf (7).. Rossia Ins A (6). Roy D'tch (3.46: Royal Dutch rts Rutland pt. . 8t Joseph Ld (2). St L San Fran... St L-San Fr pf. St L Southwest. . StL 8'th pt (5).. Santa Cecilia. 6% 84% 26 35% 97 45% 26% 91% 9% Seab'd Air Lpt. Sears-Roeb’k (6). Sears Roe pf (7). Seneca Copper Shattuck-Aris. Shell Un Ofl (1).. Sinclair Oil pf (8). Skelly Oil. - Sloss-Sheft (6) So P Rico Su (6) South Pac (6). Southern Ry (5). South Ry pf (8) Spicer Mtg. . Spicer M pf (8). Std Gas & El Q). Stand Mill (5) St Ol Cal (3). StOIINJ (1). St Ol N J pf (7] Std Plate GI(76c) Stew't War (10] Stromberg C (8). Sfudebaker (4).. Submarine Boat. . Superior Oil....,. Sweets Coof . Telautograph. Tenn C & Ch. Texas Co (3).... Tex Gulf (16%). Texas & Pacifio. Tex & PacC&O. Third Avenue.... ‘Tide Wat Oil (4) Timken (13%) “Tob Prod (6)... Prod A (1)’- .- 69% 1% 60% 125% 16% 2% 96 115% 1% ki) 17% 26 18 17% 86 20% 61% 70 5% 664 ki3 14 85 6% 50 58% 36% 118% 81 56% 62% 38% 10 . T% 1% % 3 40% 2% 34% 9% 16% 121 34 3 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. Close. 6% 34% 26 33% 97 45 26% 91 9% 87% 18 87% 65'% 4% 76% 12% 19 23 24% 83 15% 84 43% 2% 65 964 56% 98 10% 49% 94 66 us 11% 58% 21 844 33% €« 12% 46% 12% 71% 119% % 49% 6% 39% 29% 25% 52% 43% 68% 1% 59% 124 16% 31 95% 115 1% 6% 17 24% 13 17% 86 19% 60% 69% 95 65 % 13% 85 85% 50 58 B4% 118% 20 5% 62% 37% 9% % 1% % 7% 239% 1% 3% 9% 16% 120% 33% 6% 84% 26% 33% 97 45 26% 91 9% 87% 18% 87% B5% 4% 77 13 20 23 24% 83 16% 84 4% 2% 65 96% 56% 98 10% 49% 60% 60 6314 16% 6% 62% 37% 99 15% 92% 1024 e 63% ° 9% 92% 91% 5 31% | SUDDEN ADVANCE IN BOND MARKET Vigorous Buying Today Car- ries Prices to New High Marks on Present Move. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 22.—Just when dealers and professional traders were asserting that the edge was off the bond market there was a vigorous renewal of buying carrying today's prices right up to the top of the cur- rent advance. The upswing included bonds of all grades from prime investment issues, foreign obligations to highly specu- lative rails and industrials. Activity also in evidence in trading over the counter and large blocks were again in demand for institutions. There was particular inquiry for short time railway equipment cer- tificates In blocks running up to a million. Rise Ix Spectacular. The character of the market may be judged by the action of such bonds International Great Northerr. 6s, Which touched par for the first time. This is a bond secured by first lien on the company’s mileage and pro- tected by steady increases in earn- 5. but is the obligation of a re- rganized road, and so regarded by the corservative as unseasoned. How- er, the market has now got to the staze where 6 per cent returns on first mortgage railroad issues with a antial margin over charges are ry scarce. Another instance is the Anaconda Copper debenture 7s. These were bought in large lots. Probably the most spectacular of the day’s ‘movements was the rise in the Irterborough and the Third Ave- nue obligations. The refunding bs of the Interborough equaled the high of the yvear, gaining nearly 2 points on the day, while the Third Avenue ad- | justments made a new high record. Liberties in Good Demand. Gains in high-grade investment is- sues were small, but the market was very firm and Atchison general 4s made a new top for the year. Among the Libertys it was the second 4%s which were in greatest demand In the foreign group French is- sues kept up the display of strength shown late Monday and prices ap- proached the best of the year. This probably represented the same sort of confidence in the foreign situation as was testified to by the exchanges. . New offerings included $1.494.000 Union Refrigerator Transit equipment trust 5 per cent serial certificates, vielding from 4.75 to 5.20 per cent. Seaboard 5« at New Top. Associated Press W YORK, July 22.—Buying of -priced railroad ~ bonds, traction, rubber and copper issues accounted for the broadening of activity and the rising trend of prices in today's early bond trading. New 1924 higher records were established by Seaboard adjustments 5s, Third Avenue Railway 5s and Chile Copper $s. Gains of a point or so were recorded by in- terborough, Fisk Rubber, Magma Copper, National Acme, Central Leather and Sinclair Consolidated Ofl issues. Profit taking, however, depressed some of the New Haven issues, while Iron Mountain River and Gulf 4s moved lower under the pressure of liquidation by a large estate. Foreign obligations were firm on the improved outlook for success of the interallied conference. WOOL BUYING HALTS. Boston, July 22 (Special).—The buying of raw 0ol by mills seemed today to have spent itself temporar- ily This impression, however, may have been caused by the quoting of such high asking prices by some dealers for certain grades as to amount practically to withdrawing them from the market. A feeling of confidence was reported among West- ern growers by representatives of Boston firms now on the ranges. MAY SELL 1,062 ELEVATORS. MINNEAPOLIS, Minn., July 22.—THe offer of 36 leading grain firms of the northwest to sell 1,062 country ele- vators. 22 Minneapolis terminals and 12 Duluth terminals Yo the Ameri- can Farm Bureau Federation will be formally submitted to the directors of the new $26,000,000 grain sales cor- poration Wednesday at Chicago. OIL EARNINGS REPORTED. NEW YORK, July 22—Earnings of the Oil Company of California for the first half of 1924 were reported to be at the annual rate of $12,400,000. after depreciation charges of $2,500,000. This would be equivalent to $13 a share earned on the common stock. The figures do not include the depre- ciation in the company’s oil inventory said to have been carried on the books at $15,000,000 less than realizabl values. Transcont Oil. Transue & W (3) Twin City (4).... Underwood (3).. Un Bag Pa (6)... Un Pacific (10). Un Pac pf (4). Un Tank Car (5). 108 Utd Alloy Steel... 224 Utd Cigar Store: 49% Utd Fruit (10)... 202% 1% 48% 23 24 21% 2% 26 31 . 80w US Smeiting..... 30% USSteel (16) 101% U S Steel Df (7).. 122% Universal Pipe... 14% Universal PoeCh. 504 tah Copper (4).. iah Securities. . 28% Vanadrum Corp.. 22% Va-CaroChem... 1% Va-CaroChpf... B% Va Ry & Power... 63% Vivadou. 5% ‘Wabash. 16% Wabash pf A. 45 Wald Sys (1%).. 16% Web & Hellb (1). 17 Wells Far (2%). 41% West Pen (4).... 76% West Penn pf (7). 98% West ELpf (7)... 115% West Maryland.. 12% West Mary 24 pf. 21% Western 23% ‘West Pac Df (6). ‘West Un Tel (7). West Alr Br (6).. Willys-Overl Willys-Over of. .. Woolworth n (3).. ‘Worthingn Pump. 25% WhPDIA (7).. T4 Wright Aero (1), 13 Wng W Jr (3). Tellow Cab (8... tPartly are the annual cash peyment half-yea: declarations. e heranie” notsd. s1te or " wecisi included. FOREIQN. Sales. High. .167 93% 16 102% 65 93% 12 100% 33 108 12 105% 4 110% 36 90% 18 85% 43 82% 4 99% 38 93% 10 101 101% 103% 102% 98 103% 105% 106% 109% 94% 6% 97% 109% 109% 95% 110% 90% 89% 9% 95% 87% 93% 100% 103% 76 87% 100% 80 91% 04 85% 85% 17 90 99% 967 974 98 1m1% 4% 9% 89 102 109 24% 93 93% 95 9% 90 85 84% 103% 96% 113% 62 102% 102% 92% 98% 100% 100% 106% 106 105% 105% 1104 110% 90% 90% 85% 85% 81% 814 99% 99% 93 9% 101 101 101% L01% 103% 103% 1024 102% 97% 97% 108% 103% 105% 105% 105% 105% 109% 109% 93% 94% 6% 6% 97 9% 109 109 103% 109% 98% 98% 110% 110% 89% 89% 89% 89% 95% 86% 95% 85% 8% 8% 93 93% 99% 100% 101% 103 5% 176 874 87% 100% 100% 80 #0 91% 9% 9% 80 B4y 85k 85% 8o 171 8yls 90 98% 99% 96% 96% 97% 9% 98 984 111% 111% BA% Bd% 8% 9% 89 £7 101% 102 108% 109 94 94 2 93 93% £3% 95 95 97% 97% 89% 80 84% €5 8414 Bd% 103% 103% 9615 96% 1134 113% 61 62 Belgium Tia. .. Belgium 8 Bordeaux 6a...... Brazil 7s Brasil 7% Brasil 8s Canada 5s 1952, Chile 78 1343. .. Chile 8s 1921 Chile 8s 1941. Chile 85 1941 Crechoslovakia $s. Danish Munic 83 A. Danish Munic 8s B. Denmark 6i Denmark DEI5%sct. Dutch East I Dutch East I 6s°62. Finland s £ 65 1945. Framerican 7%s.. French Govt 7% French Govt Holland-Amer 6s.. Hungary 63%s. . Italy 6%s 1926 Japanese 48 Japanese 6% : Jergens U M 6s°47. Lyon 6s. Marseille 6s...0... Mexico 4s assented 4 Montevideo 7s. 6 etherlands 6s'54.264 etherlands 68 14 Norway 6s1943.... 85 Norway 68 1952... 14 Norway 8: .12 Orient Devdeb6s. 1 Paris-Ly's-Med 6s. 74 Prague 7%, .48 Queensland 6 6 Queensland 7s.... 2 Rio de Jan 8s 1946. 12 Rio de Jan 8s 1947, 2 Rio Gr Do Sul 8 10 Sao Paulo City 8 4 Sao Paulo Bta! Seipe Dept of 7s. .. 50 Serhs Crotes Slo 83 46 Soissons 68 Sweden 6s.... Swiss 53%s 1946 Swiss Confed s Toklo bs. ... Ud Kingm 6% 110 110 110 Ud Kingm 5%s '37. 83 1044 104 104% MISCELLANEOUS, Ajax Rubberss... 28 88 86% 88 Am Agr Chem 7%s 13 88% £8 88% AmChainsf6s'33. 1 94% 94'a 94% Am Repub deb 11 92% 92% 924 Am Smit&R 1st 5. 25 94% 944 94% Am SmIt&R 6s.... 5 106 105% 106 Am Sug ref 6s. . 26 101 100% 101 AmT& Tcltris.. 26 97% 97 97 AmT& Tl trbs.. 57 1014 101% 101% Am T & T deb b3%s. 84 102% 102% 102% Am Water Wks §s. 2 91% 91% 91% Am Writ Paper 6s. 54 54 b4 Anaconda 1st 68 97y% 96% 9T% Anaconda cvdb 100 9 9% Armour & Co 4%s 86 85% 85 Armour of Del 6%2123 91% 91% 9% Assoclated Oil 6s.. 75 101% 100% 101 Atlantic Refin 6s.. 6 88% 984 ;8‘4 Barnsdalls £8s... 3 9S% 984 98% Bell Tel Pa 5s..... 29 100% 99% 100% Betn Steel pm 65.. b 88% B83% 284 Beth Steel rf b . 4 94% 934 934 Beth Steel 6%s°'63. 8 88% 88 88 Beth Steels { 6 .127 96% 96 96 Brier HSt 15t 5%s 21 97 96% 96% Bklyn Edison 78 D. 3 110 109% 109% Bush T Bldg 58 '60. 23 97% 97 7% Calif Pete 6%8.... 20 98 28 88 Can Gen El deb 6s. 1 105% 105% 105% Central Leather 63 9 99% 9% 9% Chile Copper 6: . 124 104% 103% 104% CinG&E5%s’62. 2 100 100 100 Col Gas & El bs. 6 100% 100% 100% Col Gas & El 5ssta 2 100 100 100 Commonwth P 6 9 94 3% u4 Con Coal Md 1st 5i ¥8 87% 6Tk Consumers Pow 55, 5 90% 90% 0% CubaCanecv 78’30 5 94% 94% 943 Cuba Canecvd 8s. 99 98% 09‘ Denver Gas 58 90% 90 90% Det Edison ref 6s. 106 105% 105% Donner Steel 7 . 83% 83'3 83% Du Pont de N 7%s. 26 1081 1081 108% Duquesne Light 6s. 15 105% 1063 105% Est Cuba Sug T%s 108 105% 106 Empire G&F 7% 93% 2% 93% Fisk Rubber 8s 101 100% 101 FrancisSug 7%s.. 1102 102 102 Gen Elec deb b 103% 102% 102% Goodrich 6%8. Y6% 96% 963 Goodyear s 19. 104% 104 104 Goodyear 85 1941.. l;:% :;;H :‘l’:"u hey 6s 1942 1 g::bl:O&R 5%s. 31 9%% 99 99 Illinois Beil 1st 5s. 72 97% 97 !7' Ilinois Steel 4%3.. 26 94% 94% 94% Indiana Steel 5s... 2 101 100'% 100% Int Mer Marine 6s. 20 86% B5% 86% Inter Paper bs'47.. 20 87 86% 86 KCP&Ltbs A'62. 30 93% U3k 9% Kan G & E16s'62.. 12 98 97% 98 Kayser (J) 7 102% 101% 101% Kelly-Spring 8s..._5 95 _94% _95 Lackawa S 55 '60.. 90% ~ 90 ~ 90% Liggett& Myrs6s. 4 98 98 98 Liggett & Myrs 7s. 2 118% 1184 118% Lotiilard (P) 6s... 5 97 97 97 Lorillard (P) 7s... 2 116% 116% 116% Magma Cop cv 7s.. 21 114% 115% Manati Sug st 7%s 6 98% 99 Mexican Petrul 8s. 1 lflfi\i 106% Midvale Steel 5s. 12 bs!_fi 88% Montana Power bs. 17 9% 97N Morris&Co 1st 4%5 13 9 19 be 18t 5 6 101% 101% Nov Eng Tel és... 16 108% 101 NY Edsn 1st 645, 12w 1124 B . 5l NYGEELHE 961 064 106% 106% 1074% 107% %% 96% 1004 1004 %0 90 93% 93% 102% 10214 108% 109 8T% 87w 93% 93% 98% 99 93K 93% 104 104 93% 98% 103 103 9% 99 9% 80% 99% 100 8 98% 101% 102 106% 107% 104% ‘105% 85 85 91 91 99% 100 99% 100 84 84" 97% 98 7 102 102 95% 96 106K 105% 7% 97% 2 8 5 5 6 15 14 Nor States Pow & Northwst B Tel Otis Steel 7%8. Pacific Gas & El bs 13 PacTel & Tel5s.... 14 jerce-Arrow 8 Blorce Oil deb Public Service 5s. Pub Serv Elec 6! Punta Alegre 7s. Sin Crude Sin Pipe Line 5s. South Bell Tel 5a: or Rico Sug e R owast Bl 6. 161 Steel & Tube 7 2 lec Pow 6s. 22 T At ol 6%s. 22 1081 103% Toledo Edn 18t 7s.. 17 108% 1084 Uoton Bag & P6s.. 1 97 97 Unit Drug cv 8s... 2 114% 114% U'S Rub Istree.. 22 82% 823 U 8 Rubber 7%a- . 12 108 1034 UBSteels£6s.... 36 104% 1044 Utah Pow & Lt 6s.. & 92K 9215 14 oz% 625 1z 33K 8¢ 3 94 94 4 102% 10215 82 98 984 14 111 111w 20 108% 108% 9 10 9% 69k 10 98 974 98 3 89 8% 89 6 Bi% B3 B34 ‘Warner 8ug 78 "¢1. Western Blec bs... ‘Western Union 6% ‘Westinghouse 7 Wickwire Spea 7 Willys-Ov 6%s Wilson & Co 1st 6s. Wilson & Co cv 6s. Wilson&C cv 1%s. 10 60 58% 60 Winchester A 7%s. 7 101% 101% 101% TYoungsta S&T6s. 2 96% 95% 96% CEen Land-grant colleges in.the United States, which were first established in 1862, now number 68, '6f which 24 are state universities, 27 are colleges d 17 are institutions for colored B e 111% 108% (Sales are i $1,000.) UNITED STATES BONDS. {Fractions represent 'thirty-seconds. Example: Bales. Higl Lib 358 Lib 1st ¢ Lib 2d 4%s. Lib 3d 4%s Lib 4th 4% US4%s1952. RAILROADS. Ann Arbor 4s. Toledo 45 B&OSW diviy Bkiyn-Manhat 6s. 299 Buff R&Pitt 41 Canad North 6%s Canad North 7s. Car Clinch & O 6s. Cent of Ga 5%s. Cent of Ga 6s. Central Pacific 4s. Ches & Ocv 4%s.. Ches & O gn 4%s.. Ches & Ohio cv bs. Chi & Alton 3s Chi & Alton 3 Chi B&Q gn 45 '58. Chi B&Q 1st rf b: CB&Q-1ll 3%s CB & Q-111div 4 Chi & E 11l gn 6s Chi Great West €M & Puget Sd Ch!M & St P 48 '25. CM&StPdb4s Chi M&St Pev 438 CM&StPgndths ChiM&St P rf 4%s Chi M & St P cv bs. Chi M & St P 6 Chi & N W ref 5 Chi & N W 614, Chi Un Sta 4% Chi Unfon Sta 5. Chi Un Sta 6%a. Chl& W Ind cn 4s Chi & W Ind T3s.. CCC&StL s S CCC&StLr Cleve Term 68 Colo & Sou 4% CubaR R 5 Cuba R R 7%s Del & Hd 1st rf 4s. Del & Hudson 5%s. Den & Rlo G cn 4s D & Ri0 G imp b D&RG 1strfbs.. Erfe 1st con 4s.... Erie gen . Erieconv4sA.... Brie conv 4s B.... Erieconv4sD.... Erie con ext T Erie Genessee R 6s Gr Trunk sf db 6s. Grand Trunk 7s Great North 5s. Gr North gen 5% GrNorth gen 7s... Hocking Val 4} Hud & Man ret 5s. Hud & Man aj & 111 Central ref 4 Il Central 5% Int Rap Tran bs 15 202 40 55 1 44 26 11 3 Int Rap Tr 5s stpd.181 Int Rap Tri Int Rap Tran 7, Int & G Nor 1st 6s. Int & G Nor aj 6 Iowa Cent rf 4s. Towa Cent 1st 53 Kan City Ft Sds.. K s City S 3s.. Kansas City S 6s. . Kan City Term 4a. Lake Shore 4s°28.. Lehigh Val cn 4s Louis & N b3 B. Louis & Nash 5% Louis & Nash 7s Manhat Ry cn 4 Market St Ry Mil EIRy &L M & St L 1st ref 4 102 M StP & SSM ca 45.105 & SSM 6%s. Mo Pacific 58 °65. Mo Pacific 6s Montrl Tm 1st 5 Nassau E Ry 48’57 New Or Term 4s... NOTex&Min N'Y Centgen3 N Y Cent cn 4598 Cent deb C & St L debds Chi &S L 5% New Haven Ts NY Ont& Wrefds New York Ry rf 43 NY Ry rf dsctfs.. New York Ry aj b8 N Y Rysad} bs ct. N Y State Ry 4% N Y W & Bos %! Norfolk & W cn 4s. Norfolk & W cv 6s. Northern Pac 3 Northern Pac 4s. Northern Pac 5a D. Northrn Pacri OreShort Liref Ore Sht L cn 68 Ore-Wash 1at rf 48 Punnsyl gen 4343, Pennsyl gen b Pennsyl 6% Pennsyl gold 73 Peoria & E inc 4s.. Pere Marq 1st b PCC&StLEsA Reading gn 4%s... Rio G West cl ds... RIArk &L4%s,. StLIM&S 4s°23... St L IM&S R&G 4a. 11 1 7 St LS W con 45'332.118 St P Un Dep 5%s. San A& Arn Pds Sou Pacificret 43. Southern Ry gn 4 Southern Ry 1st 63 Southern Ry 6s ct. Sou Ry Mob Texas & Pac 1st 65 Third Ave ret 4. Third Ave adj b TolStL& W 4a. Union Pacific 4s°27 Union Pac 1st rf 5 Virginia Ry 1 VaRy & P'lst Western Md 4 Western Pacific 63 &L Ecn 4 Whel & LErt 4% Wisconsin Cent 43. 12 2 69 87 32 22 23 38 53 8 83 38 1 4 ‘Sales. High 61% 84 90% Low. 81% 83% 90% 86% 91% 9% 87% 89% 85% 102% 100% 68% 84w 99% 80% 88 114% 114% 98% 99%, 1034 8% 95% 89% 98% 61% 40% 89% 100% 83 1% 734 101-3 means 101 3-33.) Low. 336 101-15 10118 101-15 245 102-11 102-7_10: . 708 101-26 101-18 101-28 « 315 10212 102-8 102-12 - 901 102122102-9 102+12 17 104-31 10427 104=31 Close. Close. 6% 84 90% 87 914% 9% 88 90 85% 102% w0t o8 FINANCIAT. COTTON IRREGULAR AFTERWILD JuMP Traders Call Yesterday’s Rise Too Rapid—Much Profit Taking. By the Associated Press. NEW YORK, July 22.—After yes- terday’s excited advance, the cotton market opened somewhat irregular today. Influenced by cables, July con- tracts opened 37 points higher, but later months were from 15 points lower to 1 point higher. There was extensive realizing in the belief that yesterday's advance had been too rap- id, but after the market had declined to around 27.25 for October and 26:35 for December renewed demand from outside Interests, the trade and New Orleans, rapidly carried October back to 27.58 and December to 26.75, rep- resenting 20 to 27 points net rise. Liberal purchases by some of the big Wall Street and Western houses added to the strength of the market at the end of the first half hour. Cotton futures cloted barely steads, Close. cember. 56,40 0 ar New ‘Nlieans Market Drifts. NEW OKLEANS, July 22.—The cot- ton market opened fairly steady de- spite lower Liverpool, cables due. First grades showed losses of 2 to 6 points, but prices promptly rallied to 26.60 for October and 26.38 for December, or 1 to 4 points above the previous close. The market was sustained by the absence of rain and generally hot weather in all parts of the belt. The heavy the short interest in yesterday's ad- vance has weakened the technical position to some extent. The market sh a disposition to drift while awaiting the weather map. Cotton futures closed steady, 30 points up to' 7 down pet. 26.67. Tow. Close. July .. October December January March 7 pOpening: July 26.35. CHICAGO GBAIN’ 7f£ICES. CHICAGO, July 22 —New declines in the price of wheat took place early today owing to lower Liverpool quo- tations and to additional rains in Spring crop territory. Optimistic ad- vices, however, in regard to likelihood of settlement’ of difficulties about military occupation of the Ruhr tend- ed to check weakness. Bullish crop reports from Italy were also a steady- ing factor. Opening prices, which ried from unchanged figures lower, September 1.254 to 1. and December 128 to 1.28%. were followed by a moderate general set back and then something of & rally Warmer weather selling of eorn. After opening % to 1% off, December 91 to 91z, the market reacted a littie but continued weak Oats eased down with corn and wheat, starting unchanged to ’s off. September 46% to 463%. and later showing a loss all around. With hogs today the highest since September, 1923, the provision market was firm. WHEAT— July September | December CORN— July Keptember Devemher OATS— led to general December LARD— July ... September October October CHICAGO LIVE STOCK MARKET. CHICAGO, July 22.—(U. S. Depart- ment of Agriculture).—Hogs—Re- ceipts, 19,000 hea desirable grades active; mostly to 45 higher; slaughter pigs advanced 50; others slow; big packers doing littie; ship- ping demand active: top 8.85; bulk better 160 to 325 pound averages, .70a8.80; desirable 140 to 150 poun packing sows, 7.85a8.15: choice “strongweight kill” ing pigs, 7.50a7.75. Cattle—Receipts, 6,000 head; beef steers and vearlings active; un- evenly 15 to 25 higher, kinds eligible to 9.00 and better, largely 25 up; more in spots; light receipts: top matured steers, 11.25; several loads handy and heavy steers, 10.65al11.15; Nebraska fed long yearlings upward to 11.00; bulk fed steers and yearl- ings, 8.40210.50; eleven loads string cake fed Texas, 7.35a8.40; mostly, 8.25a8.40; she stock steady to strong, in-between grades fat cows, dull; all other classes generally steady; best weighty bologna bulls, 5.00; vealers large 9.00a10.00 to packers; out- siders buying rather freely at 10.50 and above; stockers and feeders more numerous; trade steady; bulk, 5.50a 6.50; few upward to 17.00; welghts mostly 500 to 850 pounds. Sheep—Receipts, 16,000 head: slow: early sales, fat lambs around 25 higher; early sales natives, largely 13.50; sorting moderate; culls steady at 9.50, mostly, talking 14.00 on best westerns; good to choice rangers, 13.00a13.25; sheep firm; odd lots fat 4.50a6.00; choice feeding lambs, steady. —_— GRAIN AND PROVISIONS. BALTIMORE, Md,, July 22 (Special —Potatoes, new, barrel, 1.00a: bushel, 1.00. Beans, bushel, 1.50a i Beets, 100, 3.00a4.00. Cabbage, 100, 3.00 a5.00. Carrots, 100, 4.00a6.00. Corn, dozen, 20a30. Celery, bunch, 50a. Cucumbers, basket, 75a85. Eggplant, crate, 1.50a5.50. Lima beans, bushel, 0. Lettuce, bushel, 50a1.00. bushel, 1.50a1.75. Peas, bushel, . Peppers, basket, 2.00a2.50. Spinach, basket, 2.00. Rhubarb. 100, 3.00a4.00. Radishes. 100, 1.50a3.00. uash, basket, 15a1.00. Tomatoes, bas- ket, 2.00a3.50. 4 Apples, barrel, 1.50a3.50; bushel, 50a Cherries, pound, 5a15. Black- berries, quart. 10ali. - Pineapples, crate, 3.50a4.00. Huckleberries. quart, 14a16. Plums, basket, 50a1.00. Peaches; bushel, 1.00a1.50. Melons, 100, 15.00a 40.00, ' Cantaloupes. crate, 1.00a3.25. Raspberries, pint, 12al15. Settling Prices on Grain. Wheat—No. 2 red winter, spot, 1. No. 2 red winter, garlicky, 1.2 3 red winter, garlicky, 1.25. Sales—None. Corn—Cob, new, 6.00a6.25 per bar- rel for yellow and '5.75a6.00 per barrel for white; No. 2 corn, spot, 1.08; No. 3. no quotation: track corn, yeilow, No. 2, 1.25. Sales—None. Oats—No. 2 white, 65%a66; No. 3 white, ne 6415265, Rye—Nearby, 90ad 893%. : Hay—Receipts, 19 tons. The local hay market is amply suppiied .with both grades and kinds and the ma 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 and dark mixed hay are particularly hard to dispose of. Quotations—No. 1 timothy, 27.00a 27.50; No. 2, 25.00a26.00; No. 3, 22.00a 24.00: No. 1 light clover, mixed, 2 2 light clover, mixed, 3 No. 1 clover mixed, 23.50 224.00; No. 2 clover, 20.00a22.00; sam- ple grade, 18.0021.00. Straw—No. 1 straight rye, 23.00a : No. 2 rye, spot, 24.00 per ton; No. 1 tangied rye, 18.00 a20.00; No. 1 wheat, 17.00a17.50; No. 1 oat, 16.5017.00. = The ‘man who has found life full of interest ?‘ found himmself, : | be given | pected to stimulate local interest than | liquidation of | | Riggs Realty LANSTON TO ELECT NEW HEAD SOON Successor to Late J. M. Dove May Be Named Tomorrow, Trading on Local Board. BY CHAS. P. SHAEFFER. A president to succeed the late J, Maury Dove as head of the Lanston Monotype Machine Company will probably be named at a meeting of the board to be held tomorrow after- noon at 1:30 o'clock in Philadelphia. The only obstacle standing in the way of the election is said to be bare possibility of the absence of a quorum, in which event the eclection will be deferred a week. The Lanston concern has becn without an official had for approxi- mately a month out of respect to the memory of Mr. Dove. While directors of the company maintain reticence, it is known the board has given a great deal of un- official consideration to one man, whose identity must be kept secret for the time being, and this man will the office by unanimous consent of the directorate. He under- stands the operations of the company, i good executive and thoroughly able to maintain the high standard of operation that has been set by the typesetter company. Jlection of a new head ex ir Lanston stock, which has been more or less dormant of late. Washingt s keenly interested. Despite the fact the issue is also listed on the Phila delphia and Boston exchanges, the Washington Stock Exchange is con- sidered its central trading point, and the majority of transactions are across the local board. Likewi Washingtonians represent the largest group of shareholders. Rediscount Cut Likely. Barring unexpected developments another cut in the rediscount rate of tthe Federal Reserve Bank of New York is on the schedule, and may eventuate tomorrow at the regular meeting. New York advices cite the trend of open market quotations as an argu- ment supporting this view, but of even greater moment is the apparent desire of the authoritics to regulate the money markets here as to make liberal accommodations available to Europe at low cost when a settlement shall have emerged from the confer- ences now in progress on the other side Trading on Loeal Exchange. Comj n stock of the Washington Railway and Electric Company con- tinued to monopolize local attention on the exchange today. The gap be- tween levels of the common and pre- ferred was lessened to a quarter of a point, the common selling off a quar- ter from 75% to 75%. In the mean- time the preferred sold at 75 common was unsteady on small s: share lot changing hands at for the day's low, but subsequen recovering fractionally. Capital Traction was firmer. ad- vancing a quarter point to 95 on sales of 52 sharex. Lanston sold at 72% Bonds again were dull W. W. Spaild Takes Vaeation. W. W. Spaid of W. B. Hibbs & Co. is vacationing at Atlantic City. EECE R Washington Stock Exchange. SALES. Gas 65 '33—$1,000 at 101%, t 945 Washington $1.000 at 1011 Washington Rw Lanston Mooots} Washington Money—Call loans, 5 and 6 per cent. Bid and Asked Prices, BONDS. PUBLIC UTILITY. Bid. Asked. .98 oen 100 104 D e J1e 58 American Tel. & Telga. 4x. American Tel, & Telga. 4l Tel. ctl. tr. 3s. . Telepho Telephore of ¥ Capitai Traction R. R. City & Suburl = Grorgetown G Wash., Alex. & 3 Wash.. Alex. & Mt. Ver Wash.., Balt. & Aonap. & ¥ s (short Southern Bldg. Glas.. Wash. Mkt. Cold Storage 5s. Wardman Park Hotel 6s.. STOCKS. PUBLIC UTILITY. American Tel. rts...... American Tel. & Telga.. Wash. Ry & Terminal Taxi NATIO; com. Capital Columbia. Commerciai District . Farmers & Mechanics' Federal-American Second National ‘Bagk of Wash... 110 TRUST COMPANY. American Security & Trust..... Trust SAVINGS BANK. Gommerce & Savings. Fast Washington. Secarity Sav. & Com. Ban Seventh Stree United States. Washington Al FIBE INSURANCE. American Corcoran . Firemen's National Union. MISCELLANZOUS. D. C. Paper pfd........ 3 Diecinante Transter & Storage.. Mergenthaler Linotype. 2 Natl. Mtge. & Invest. pi 01d Dutch M 0ld Dutch Market pfd. Tazston Monotype. Security Storage. ashington Market.. Yellow Cab. *Lx dividend. GOULDS SELL BONDS. NEW YORK, July 22.—Liquidation of a $15,000,000 block of railroad bonds by the Gould interests has been under way for the last ten days, Wall street heard today. Banks have been heavy purchasers of the securities, which included - St. Louis and Iron Mountain, River and Gulf 48 and Western Maryland 4s. —_ e Childrén of eight and nine years of age 4re employed In many Chinese