Evening Star Newspaper, August 30, 1924, Page 10

FINANCIAL NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office SHARP ADVANCES IN STOCK MARKET Domestic Trade and Foreign News Cause Jump in To- day’s Short Session. By the Associated Press. NEW YORK, August 30.—Heavy buying of stock for both accounts, based on a favorable domestic trade and foreign,political news, imparted a strong tone to today’s market, net gains of 1 to 3 points being quite common at the close. The demand spread over a broad list and was quite brisk for a pre- holiday session, the coppers, motors, oils, food and high grade rails giving the best demonstrations of group strength. Jersey central was an isolated weak spot, dropping 5%’ points. Among the many stocks to sell 2 to 3 points above Friday's final quotations were American Can, du Pont, Texas Gulf Sulphur, General Electric and Cuban dominican sugar. The closing was strong. Sales ap- proximated 450,000 shares. STEEL SHARES STAND OUT. Surprising Amount of Trading Just Before Holiday. BY STUART P, WEST. Special Dispateh to The Star. NEW YORK, August strength of practically all classes of stocks in today's short session was surprising in view of the coming holi- days and the fact that many traders had left the financial district to re- turn Tuesday. Steel stocks stood out strongly, be- ing actively taken at higher prices under the lead of United States Steel common. The independents joined moderately in the upward movement, notably Crucible, Vanadium and Rep- logle. The trade reviews in their week end summaries spoke of “prosg- ressive, though gradual improvement in steel trade conditions” throughout the month of August and of a larger demand for railroad equipment. Coppers Go Higher. The advance kept on in the copper and smelting shares, with special strength in Anaconda, Kennecott, Utah and American Smelting and Re- fining. Renewed sig of hardening in prices for the copper metal have appeared during the past week, and today the quotation stood close to the 14-cent level. Texas Gulf Sulphur was a feature among specialties, getting well above 50, to a new high, as against the previous close of 1%. The advance of 2 points in Canadian Pacific coin- cided with reports of a further de- mand for the stock from forelgn sources. Amer| n Steel Foundry ran up. as did the gar stocks, American Sugar gaining 3 points and Cuba Cane preferred up a point or more from Friday's low. Wall Street Features. Both Mack Trucks and White Motor were strong, responding readily to moderate buying. The satisfactory earnings of these companies and the outlook for continued good business are facto vhich favor operations for the rise in the stocks whenever they are renewed. The rapid expan- sion of the motor truck industry, par- ticularly for short-haul purposes in competition with branch line rail- ways. has made the street confident of an even higher return to holders of the securities. The coppers and related shares did as well as anything on the list to- day. Anaconda, Kennecott, ile, Cerro De I'asco, American and Federal Mining and Smelting pre- ferred, all went ahead rather briskly. There was nothing in the day's news to throw further light on the copper statistical position, but the fact that copper metal is selling around the 14- cent level and that producers are an- ticipating higher prices was suffi- cient grounds for resuming the ad- vance. Markets at a Glance ‘W YORK—Stocks strong; re- newed buying of investment rails; bond firm; European issues continue advance; foreign exchange easy, sterling declines about a cent; cot- ton easy, favorable crop reports; sugar and coffee, holiday. CHICAGO.—Wheat, declined; pre- dictions hevay receipts. Corn, steady; short covering. Cattle, steady. Hogs, higher; light receipts. RAJLROAD SALE DENIED. NEW YORK, August 30.—Persistent reports in the financial district that the Pittsburgh and West Virginia Railway would be sold to the Van Sweringen_interests and incorporated into the Nickel Plate system were denied by Frank E. Taplin, chair- man of its board of directors. -— ‘WOOL MARKET STEADY. BOSTON, August 30 (Special).— The wool market closed today with trading confined to some extent to the requirements necessary to take care of the Labor day holiday period, but prices were very firm, with unwashed delaines commanding at least 57 cents, and fine and fine medium territory at around the $1.35 scoured mark. . 197 MORE ENGINES. Class one railroads installed 17,926 treight cars and 197 locomotives dur- ing July, the American Railway As- sociation reports, including new, re- built and leased equipment. A total of 88800 freight cars was installed in the first seven months of 1924, a de- crease of 8,150 compared with the same period of 1923. Locomotives to- taled 1,268, or 953 less. —— BOND OFFERING EXPECTED. NEW YORK, August 30.—Banking circles are expecting an early offer- ing, probably next week, of $30,000,- 000 Kingdom of Belgium bonds, part of which, it was said, would be used to refund $18,600,000 five-year 6 per cent notes maturing January 1, 1925. -— FOREIGN EXCHANGE, (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. today. London, pound. . Montreal, dollar. Parls, franc . Brumels. frac Terlin, mark .... Rome," lira Zurich, franc Atbess, drach Diadetd, peseta Vieans, crown Budapest, crowt, Prague, crown ... Warsaw, mark Copenbagen, crowa Christiania,” crowa Etockbolm,” crown . TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ] ——Close.—— Bia. , Ofter. 100332 To yield 1009-16 10011-16 100 11-16 101 13-16 101 101 101316 101516 101% 101 102 1021 101 101 102716 102 sk e 5%s September 15, 1924 41;s December 15, 1924. 4s March 15, 1925, 4%s March_ 15, 192 4ias June 15, 1925. 4%s December 15, ie Beptember 13, 4%s March 15, 1927.. S Decetubex 15, 127, Smelting ; Adv Rumley.. .. Adv Rum pf (3). Air Reduct (4) Ajax Rubber Allied Chem (4). Allls-Chalm (4). Am Ag Chm pt,. Am Bank N (5).. Am Beet Sug (6 Am Bosch. . Am Can (16). Am Car & Fy(12} Am Chain A (2). Am Chicle. Am Drux Synd Am Express (6). Am & F P 25%(7) Am Hide & L pf. Am Ice (7). Am Icc pf (6) Am Internatl. ., Am Locomo (6) . Am Metal (3). .. Am Radiator (4) Am Saf R (50¢).. Am Ship & Com. Am Sm & Re (5). Am Stl Fdys (3). Am Sugar. . Am Sugar pf (7). Am Sumat Tob. Am T & Tel (9) Am Tobac (12) Am Tob B (12) Am Water Wks. Am W W pf (6).. Am Woolen (7). Am Wool pfd (7) Am Zinc. ..... Anaconda .. Ass0 Dry G (3) Asso Oll (1%). AtT&SFe (8).. Atl Birm & At. Atl Coast L (18). AtGulf & WI... At Gulf & W 1 pf Atlantic Refin. .. Bald Loco (7)..." Bal & Ohio (5) Barnsdall A..... B'ch Nut (2.40).. Bethlehem Steel. Booth #sheries. Br Em Stl 2d pf.. Brk Edison (3).. Brk-Man Tran Br Man T pf (6). Brklyn Un G (4). Butte&supertor. Cal Pet (1%) . Calu & Ariz (2). Can Pacific (10). Cent Leather Co. Cent Lea Co pf. CRRNJ (112).. Cerro de Pasco(4) Certain-Td Prod Chand Mot (6)... Ches & Ohio (4). Chic Gt West.... Chic Gt West pf. Ch Mil & St Paul ChMil& StPpf. Chi & Nwn (4). ChiRI& Pac CRI&P Dt (6). Chile Cop (2%).. Chino Copper. Coca-Cola (7). Colo Fuel & Iron Col G & E (2.60 Com In Tr pf Com Solv A (4) Com Solv B. . Congoleum (3) Consol Cigar. Consol Gas (5) Consol Textile. Cont Can (4). Cont Mot (20c) Corn Prod (2). Cosden Co Crucible StI (4). Cub Am Sug (3). Cub Cane Su pf Cub Dom Sug pf. Cushmans (3)... Cuyamel Fr (4). Dan Boone M(3) Davidson Chem. Del L& W (6)... Dome Mines (2). Doug-Pectin (1) Du PtdeN (8).. DuPtdeNdb (6 Erie. Erie 1st pf. Exch Buffet (2). Fairb’ks (2.60) Famous Pl (8). F'dM &Spf (D). Fifth Av B (64c) Fisk Rubber.... Fisk Rubber pt. Fleischman 13%. Foundation (6).. Foundation rts. Freeport-Texas. Gen Am T C 3). Gen Asphalt. ... Gen Baking (6). Gen Cigar (8)... General Elec(8) Gen El spe (60c). Gen Mot (1.20) Gen Petm (2) Goddrich. Goodyear p? Granby Consol Gt North pt (5).. Gr Nor Ore (3) Gr Canan Cop. Gulf St Stl (3) Hanna rst pf (7) Hartman Co (4). Hayes Wh'l (3). Houston Oil. Hud Mot C (3).. Hydraulic Steel . Illinols Cent (7). Indian Motoreyc Inspiration Cop. Interb Rap Tr. Internat Agri. Int Bus Ma (8) Int Cement (4).. Int Com Eng (2) Internat Har (5) Int Mer Marine. . Int Mer Mar pf Internat Nickel. Internat Paper. . Int Rys C Am (5) Int T&T(6).... Invincible Oil. Iron Prod (6)... Jordan Mot (3). Kan City South. Kayser Jul & Co. Kelly Spr Tire. . Kenne Cop (3) Keystone T & R. Leh Val (3%)... Lig & Myrs B (3) Lima Loco (4)... Loews Inc (2) Loft Incorpor. Lorrillard (3). Mack Trucks (6) Mack Trucks rts. Magma Copper. . Manati Sug (5).. Maracaibo Oil. .. Marland Oil...... Mathigson Alka. Maxwéll Mot A.. Maxwell Mot B. . May Dept St (5). Mex Seabd (2) Miami Cop (2)... Middle St Oll.... Mis Kan & Tex. . Mis K & Tex pf.. Missouri Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Nat Biscuit (3).. Nat Dairy (3)... Nat En & St. Nat Lead (8) Nev Cons Cop. NYAIrBr(4)... NYABrA (4) N Y Central (7). NYC&StL (6). NYC&SLL pf (6). NY NH & Hart N Y Ont & West. Nort & W (18) North Am (2.40). North Am pf (3). Open. High. 12 89 9% 9% 74 63% 38 182 41 27 132 168% 2% 205 5 18 1% 62y % 80 28% 8liy 48% iy % 124 6% 36% 46t 90% 7% L 127% 126 87% 272 1% 15 40% 23% 57% 19% 661 29% 16% 6% 89% 36 35% 71 29% % 111 18 28% 26% % 102% 50 26% 9% 10% 41% 18% 49 16% 84% 12% 4" 2% 20% 19 16% 48 it B4% 62% 61% 17% 7 39% 100% ~ 3% 36% 63 28 82 41 59% 16% 98 21 23% 1% 16% 48% 19 52% 66% 36% 23% 8% 67 37% 23 156 14% 42% 50% 108% 1% 90% 24% 20% 125% 30 484 12 39 9% 9% 74 65 38 132 41 23 134% 169% 23% 20% 5 118 117% 624 78 80 28% 824 487 24% 167 14% 42% 650% 109% 111% 0% 24% 20% 128% 80 48% North Pac (6)... _65% 66% Low. 12 89 9% 9% “ Close. 12 39 9% 7 6% 35 132 41 28 134% 169 23% 20% 5 18 Close. 67 8% 43% 108 4% 653% 63 26 45 1% 100% 62 81 48% 46% 33% b W 36% 81% 1% 26 13% 63% 58% 47 74 29% 593 17% 100% 129% 54% 23% 127 13% 61% 21% 12% 49% 17 kid 43% 65 29 27 61 69 Open. High. 671 67 8% 8% 43% 43% 108 108 4T% 4T% 52% 53% 61% B3% 26 45 1% 101 62% 81 48% 47 33% bl 11% 364 81% 1% 26 13% 634 58% 47 74 29% 59% 1% 100% 129% 544 23% 127 13% Low. 67 8% 43% 108 AT 52% 61% 26 4% 1% 100% 60% 81 48% 46% 83 % 11% 36 1% 1% 24 13 63% 58 41 74 27% £9% 17% 100% 128% 53% 23 124% 12% 61% 21 12 49% 16% 6% 43% 65 29 26% 60% 42% 69 60% 4 125% 1% 25% Otis Elev (n) (4) Otis Steel....... Owens Bot (3).. Owens B pf (7). Pacific Ol (2)... Pan-Amer (4).. Pan-Amer B (4). Park & Tilford. . Penn Railrd (3) Penn Seab Steel. Peop Gas Ch (7). Pere Marq (4)... Pere M pr pf (5). Phila Co (4). Phila&R&I... Phillips Pet (2). Phillips Pet rts. Pierce-Arrow. , . Pierce-Arrow pt P-Arprpt (8)... Plerce Oil........ Pierce Oil pf.... Pitts Ut ctfs 1.20 Pitts & West Va. Postum Cer (4). Press Steel Car. Press Steel C pf. Prod & Refiners. PubSerNJ (4). &59% Public Servrts.. 17% Pub 8 NJ pf (7).. 100% Pullman Co (8).. 128% Punta AlSu (5). 54 Pure Oil (1%)... 23 Ry Stl Spg (8)... 124% Ray Cons Cop... 12% Reading (4). 61% Reading rts. 21% Replogle Steel.. 12 Rep Ir & Steel... 49% Reyn'ds Spgs (1) 16% Rey Tob B (3)... 76% Roy Dtch (3.46). Rutland pf St Joseph Ld (2) StLSan Fran... St L-San Frpf.. St L Southwest.. StLS'thpt (5).. Savage Arms. Schulte (8).. Seaboard AirL.. Seneca Copper. . Shell Un Oil (1). Simmons Co (1). Simms Pet Sinclair Oil. Skelly Oil....... Sloss-Sheft (6).. South Pac (6)... Southern Ry (5) South Ry pf (5). Spicer Mtg. .. Std Gas & El ( St Ofl Cal (2). StOINNJ (1).... Std P1Gl (75¢) .. Sterling Pr (4).. Stew’t Warn (5). Stromberg C (8). Studebaker (4).. Submarine Boat. Superior Ofl. Texas Co (3).... Tex Gulf (163%). Texas & Pacific. Tex & PacC & O. Tide Wat Ofl (4). Timken (13%).. Tob Prod (6).... Tob Prod A (7).. Transcont Oil.... UnBag Pa (6).. Un Pacific (10).. Un Pac pf (4)... Un Tank Car (5) Utd Cigar Stores United Drug (6) Utd Ry Invest. .. Utd Ry Invest pt U S CastlIronP. USCIP pt (7)... U S Distributing U S Hoff Mach.. U S Ind Alcohol USR&Im (8).. U S Rubber..... USR 1st pf (8). U S Smelting.... U S Steel (16). Universal Pipe.. Univer P pt (7).. Utah Copper (4). Utah Securities. Vanadium Corp. Va-Caro Chem. . Va Ir C&C pt (5) Vivadou. - Wabash........ Wabash pfA.... Wald Sys (1%).. West Pen (4) . West Pen pf (7). West Maryland. West Md 2d pt Western Pacific. 20% West Pac pf (6). 67% West UnTI (7).. 112% West E& M (4). 63% Whi & L Erfe.... 12% Wh Eag Oil (2). 24 White Mot (4) 65 Wilson & Co 6 Wil&Copf..... 15% Willys-Overl'd.. 8% Willys-Ovd pf... 704 Woolw'thn (3).. 114 Worthing P'mp. 29% Wwright Aer (1). 12 Wrig W Jr 3).. 41% Yellow Cab (5).. 63 53 62 563 {Partly extra. $Payable in preferred stock. Dividend rates as given in the above table are the annual cash payments based on the iatest quarterly or balf-yearly declarations. Unless otherwise noted. extra or spectal dividends are not included. BOARD TO ADJUST MEXICAN CLAIMS Matters Pending Since 1868 and Involving Millions Are Due for Adjustment. 27% 28 21 3 S s 35% s 109% 17 18 55 79% 33 28 1% .5 5% 15% 43Y% 15 92 92 12% 19% 21 67% 112% 6374 12% 24 64% 6% 16% 9 71 113% 29% 12% 31% 28 1% 13 6% 15% 43 4% 92 92 1% 19% 20% 67% 112% 68% 12% 23% 643 6 16% 8% 70% 113% 20% 12 28% 5 5% 15% 43% 16 92 92 124 20 21 67% 112% 63% 125 24 65 6% 16% 9 71 114% 29% 12% 4% 41% 4y 14% 92 11% 20 Organization of the American- Mexican General Claims Commission was effected here t and the body set for next Wednesday the first of a series of meetings, lexpected to ex- tend over two years or more, to com- plete the task of adjusting claims pending between the two countries and their respective nationals since 1868 and aggregating millions of dollars. The initial session was public and was attended by many members of the diplomatic corps, Latin Ameri- cans predominating. Secretary Hughes in an address of welcome hailed the negotiations as an “em- phatic demonstration of our devotion to the cause of peace” and as the beginning of “a new era of mutual confidence in our relations with Mexico.” Responses were made by commis- sioners and agents of both govern- ments and by Dr. C. Van Vollen- haven of Holland, who presided as commissioner of a third and dis- interested country. POTATOES STRONGER. A AC".ICAGO‘ August 30.—Potatoes, trifle stronger on cobblers, weak on early Ohios; receipts, 39 cars; total United States shipments, 645 cars; Kansas sacked Irish cobblers, 1.15a 1.35; Missourl sacked cobblers, 1.05a 1.25; Nebraska sacked cobblers, 1.26a 1.35; sacked early Ohios, 1.00a1.10; Minnesota sacked early Ohlos, 75a 1.00; bulk, 75a95. -— LIVE POULTRY HIGHER. CHICAGO, August _30.—Poultry, alive, higher; fowls, 17a25; springs, 26%; roosters, 16. ‘WEEKLY BANK REPORT. NEW YORK, August 30.—The actual condition of clearing house banks and trust companies for the week show an excess in reserve of $3,550,940. This is a decrease in re- serve of $7,203,830 compared with Ll Wokke . DAWES PLAN AIDS TRADING IN BONDS European Issues Again Re- spond to Ratification News. Rails Als_o Higher. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 30.—The in- fluence of the formal acceptance of the Dawes plan and the expectation of some dnnouncement in the near future regarding the arrangements of a German loan, were reflected more plainly in the bond trading than on the stock exchange at the close of the week. French and Belgian dollar loans and the copper securities among corporate issues were particularly ac- tive and in some instances were a half point or so higher than at the close Friday. French Issues Strong. French 7%s and 8s, as on the pre- vious day, were the leaders in the foreign government section, getting up to their best prices for the current movement. French City bonds also were strong, the Bordeaux 6s and Marseilles 6s going ahead readily. Belglan 7i%s also advanced. The further buying in Anaconda 6s and Chile Copper 6s was the result of calculations that copper metal, re- sponding to a greater demand from Germany and other European coun- tries, would be one of the first to benefit in forelgn purchases from this country. Tractions Special Feature. Aside from the foreign group, the features in the dealings of the past week have been the New York City tractions, the Wilson & Company 1s- sues and the St. Paul bonds. Greater New York tractions early in the week went lower following discus- slons as to the possible effect of com- petition from the operation of new bus lines, but rallied later on, as th encouraging reports for July were published. The so-called friendly receivership announced in the case of Wilson & Company caused heavy selling in that quarter, but this quieted down when more had been learned of the action. $75,000,000 in New Issues. The St. Paul issues took a rather uneven course throughout the week, owing to uncertainty regarding the refunding plan. The general run of railway bonds were inclined to sell off most of the time. The week's new issues totaled close to $75,000,000, which was an unusu- ally large amount for the period just preceding the Labor Day holiday Forelgn government offerings led the list. Rallroad Liens Improve. By the Associal Press. NEW YORK, August 30.—European bonds continued to respond today to Germany's ratification of the Dawes plan. French government obliga- tions scored further moderate ad- vances with the municipal Issues averaging gains of about a point Belgium 7%s and Ss also forged ahead, coincident with reports that a 330,000,000 loan for the government might be floated here mext week. Ac- tivity was revived in railroaq liens and advances of 1 to 21 points took place in National Acme 73 Oil 8s and Brooklyn Union Gas COTTON QUOTATIONS GO LOWER TODAY New Estimate Puts Crop at 12,- 100,000 Bales—Closing Prices. By the Associated Press. NEW ORLEANS, August 30.—The j Denmark 6s. cotton market opened fairly steady today, first trades showing losses of | 2 to 9 points. Prices eased off right | after the call, with October, Decem- | ber and January 9 to 10 points down | compared with yesterday close. 4‘ Short covering and good buying then | ensued owing to anxiety as to the| future course of the troplcal storm | and on a private condition report of 59.9, indicating a crop of 12,100,000 | bales. October advanced rapidly to 24.57. December to 24.70 and January to 24.75, or 33 to 36 points up from the initial lows. After the wave of buy- ing subsided the market eased off to around 24.35 for October. Cotton futures closed barely steady at net decline of 33 to 36 points. Tow. Close. 2395 ning J.n::ry,'fi@(‘.‘; bid. New York Quotation NEW YORK, August 30.—Cotton futures closed steady. October January rch . i orp A g T BT 0 T, ecember, 24.58; Jantary, 24.58; March, 24.58; May, 24.95. Spot Cotton Rates. NEW ORLEANS, August 30.—Spot cotton steady and revised, 57 points down. Sales on the spot, none; to ar- rive 900 bales. Low middling, 21 middling, 24.25; good middling, 24.75. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Close.— Bid. Aluminum Co. of Amer. 7s 1925. 10314 Aluminum Co. of Amer. 7s 1933, American Sugar 6s 1937........ American Tel. & Tel. 6s'19325. Anaconda Copper 8s 1928...... ‘Anglo-American Oil 7%s 1925 Associated Oil 6s 1935. Bell Tel. of Canada Canadian Northern 5%s Central of Georgia 0s 1920 Central Leather 58 1925. : Chi., Mil, & St. Paul 6s 1834.. Chi., R. I & Pacific 5%s 1926, Colum Gas & Elec 1st 58 1927.. Du_Pont 7%s 1831 Federal Sugar Ref. Fisher Body Cor Fisher Rody Corp. 6s Goodsear T. & K. 83 193 Great Northern e 103t Gult 0il Corp, of Pa, 5%s Humble Oil 5is 1932. Kennecott Copper 7s 1930. M. St. P. & 5, 8. M. 61 Morris & Co. Tts 1930.. New York Central 6s 1935 Oregon Short Line 4s 1929 Penna. R. R. 7s 1530, Pure Oil 53s 1925 Swift & Co. 58 103 Tidewsater Oil 6%s 1931 Union Tank Car 7s 1830. U. S. Rubber 7%s 1930. Western Union 634s 1936, Westinghouse E. & M. Wheeling Steel 6s 1926. —_— RADIO FARTHEST NORTH. ANCHORAGE, Alaska, August 29.— Pvt. Elmer J. Ulen, United States Army Signal Corps, soon will estab- lish the farthest north radio station on the American continent at Wise- man, on the middle fork of the Koyukuk River. Pvt. Ulen also will have the @is- tinction of being the farthest north of any~soldier in the United States Army, as he is located at 67% de- grees north latitude and 150 degrees longitude. e~ Bethfehem s the center of the 1928, 1931 1015 9415 1084 1044 1033 110 10814 101% [ BONDS oz Received by Private Wire (Sales are ia §1,000.) UNITED STATES BONDS. (Fractions represent thirty - secondu. Example: 98-3 means 98 3-32.) Sales. High. Low. Close. 2 101-27 101-27 101-27 £8 101-2 10030 101-2 61 101-31 101-30 10131 70 101-81 101-29 10131 £9 104-29 104-26 104-29 FOREIGN. . High. 8l 931 103 96% 100% 110 108% 109% 93% Lib1st 4%s Lib 2d 4%s. Lib3d 4%s. .. Lib 4th 44s. . US4%s195 Low. Close. 81% 814 934 93! 102% 103 956% 96% 100% 100% 109% 109% 104 108 109 109% 93% 93% 89% 9% 82 82% 96 7% 102% 102% 102% 108 103% 103% 9T% 97% 10345 103% 108 108 95% 95% 96% 6% 100% 100% 99% 93% 109% 109% 100% 100% 110% 110% 90 90 6% 96% 96 86% 95% 96 103 103 106 106 89% 89% 884 834 83% 83% 97% 97% 97% 97% 92% 92% 82 82 8% 89% 89% 90 18 18% 99% 99% 99 99% 9% 9% 7% 9% 82% 82% 98 98 91 9% 95 95% 2% 95 98 98 95 95 88% 90 87% 88 105 106 98 98% 115 115 10 110 104% 104% 93 93 Argentine 5s Argentine 6 '37.. . Argentine7s...... Austria 7s. Belgium 6s. Belgium 73%s Belgium Ss Berne 8s. Bolivia 83 Bordeaux 6s. . Brazil Ts. Brazil 8. Canada 55 1931 “anada 55 1952.. . ada 5%s 1929, Chile 7s 1943 Chile 85 1926. Chile 851931, Copengagen Cuba 5%s. Czecho §s 155 €zecho 8s 19 . Danish Munic 8s A. 19 28 20 4 27 60 9 15 Denmark s, Dutch E 15348 Dutch East I 6 Dutch East I 6362 Framerican 7%s. . French Govt 7%s. French Govt 8s. Haiti 6s Hungary 6%s. Japanese 4s. 5 Japanese Ist 1%3. Japanes Japanese 6%: Jergens U M. Lyons 6s. Marseills 6s. Mexico 45 °04 asntd. Netheriands 6s'54. Netherlands 6s 72, Norway 6s 1943.... Norway 65 1952. Paris-Ly's-Med 63. Porto Algere §s... Prague 7%s.. Rio de Jan 85 1946. Rio de Jan 85 1947 Rio Gr Do Sul 88 Seine Dept. of Ts. 18% 99% 100 98 9% 85 98 91% 951 95 98 95% 90 88 105 98% 115 4110 Ud Kingm 5%s'37. 41 104% Ud Steam Copen 6s 2 83 MISCELLANEOUS. Am AgrChem 7%s 9 94% ainsf6s'33. 6 96 It&R 1st6s. 2 94 ref6s..... 1 100% .13 97% 12 101% 40 102 29 98% 21 101 92 100% 101% 100% 89'% 884% 6% 96% 100% 99% 107 993% 100% 96'% 3 90 96 99% 88% 108% 106 106% 96'% 104 103 99% 8 105% 118% 102% 100 97 93% 88% 92% 98 97 91 117% 95 99% 102% 884 97% 80% 2% 85% 100% 96 95% 100% 92% 103% 109 5% 92% 98% 92 104 9% 94% 101% 98 87 101% 110 104% 1013 86% 925% 84 102% 96% 105% 97% 94% 115% 84% 103% 105 64% 35 91% 28 72% 98 8% 95% STOCKS EX-DIVIDEND. Dollars »issons 6s weden 6. wiss 5348 1946, wiss Confcd 8s 94 96 24 100% 97% 101% 102 8% 100% 92 1004 101% 1004 9% 28% %6 96% 100% 99% 107 99% 100% 96% 87% 88% 28 99% 884 108% 105 106% 96 103% 103 99% 98 105% 118% 102% 99% 96% 93% 88% 92% 97 96% 91 117% 119% 99% 102% 88% 97% 80 93% 96 94 100% 97% 101% 101% 98 100% 91% 100% 101% 100% 8914 8% 96 964 100% 9% 106% 99% 100% 96% 873 89% 96 99% 88% 107% 105 1064 96 103% 103 99% 28 105% 118% 102% 9% 96% 93% 88% 92% 97 96% 91 117% 19 99% 102% 88% 97% 80 112% 854 100 96 95% 100 92% 103% 108% 95% 92 98% 91% 104 94% 93% 101% 98 87 101% 109% 104% 101% 86 92% Bd% 102% 96% 105% 97% 9% 115% 84 103% 104% 64 34 91% 9% Ti% 98 86% 95% Am Su, AmT & T cl tr 4s Am T&T cltr5s... Am T & T deb 5%s. Anaconda 1st 63. .. Anaconda cv db 7s. Armour of Del 518 Associated Oil 6s.. Barnsdall s f 8s. Bell Tel Pa 5s. Beth Steel pm 58 Beth Stee Brier H Bklyn E Bkiyn Union G 5s. Chile Copper 6s. .. CinG & E 513562 Col Gas & El 5s. Commonwth P 6s. Con Coal Md 1st 5s. Consumers Pow 5s. Cuba Cane cv s '30 Cuba Cane cv d 83. Denver Gas 58...... Du Pontde N 7%s. Duquesne Light 6s Est Cuba Sug 718, impire G&F 1%s. Fisk Rubber 8s crancis Sug 7 Gen Refractres 6s. Goodrich 618. ... Goodyear 85 1931.. Goodyear §8 1941.. Hershey 6s 1942... Humble O&R 5%s. Illinois Bell 1st b8, Illinois Steel 4%s. . Int Mer Marine 6s. KCP &Lt 5sA'52 Kan G & El 635 Kelly-Spring 8s Lackawa $ 53°'50.. Liggett & MyTs 7s. Magma Cop cv 7 Manati Sug sf 7%s. Marland Oil 7%s. .. Midvale Steel 5s ct. Montana Power 5. Mor's&Co 1st 4%3s. Y Eden 1st 6%s YG EL H&P 4s YG EL H&P 6s NY Tel 4%S..... North Am Ed 6s... North Am Ed 6%s. Nor States Pow bs. Nor States Pow 6s. Northwst B Tel 78 Otis Steel 85...... Pacific Gas & E1 53 Pac T & T 1st 53, Pacific T & T 58 Pan-Amer Pete People’s Gas 5s. Phila Co 53%s '38 Phila. Co ref 6s A. Phi! & Rdg C&I 6s. Pierce-Arrow 8s. Pierce Oil ded 8s. Producers & R §s. Public Service 55. . Pub Serv Elec 63. Sinclair Oil 6%s Sinclair Oil 7s. Sin Pipe Line 5s. .. So Por Rico Sug 7s. Southwest Bell 5s. Steel & Tube 75. ... Tenn Elec Pow 63 Union Bag & P 6s.. Unit Drug cv 8s U S Rub 1st rf 63. U S Rubber %s. USSteelsf5s va-Car Chem 78 Va-Car Ch 7%s8 8 Warner Sug 7s '39. Western Elec 5s. .. Wickwire Spen 7s. Willys-Ov 6%s '33. ‘Wilson & Co 1st ts. Youngstn S& T 6s. o RORORB R CORRHD IO EON®ED HPRaNNNG® = = - - 0 N 2 OO B e OB T WO IS0 O NN 10O Name. Southern Pacific. 0—Aflas Powder. 0—Diamond folk & Western R. R ard Motor Car pf. . Cigars St. of Am, DIVIDENDS. lod. Rate. 355t 20 81 Corp. Ala & Vicks R Autocar pt. Rklyn Un G Rell T Pa ¢ pt Cramp & § C .. © T Pb Sve p.. E1 Paso Elec.... Eisenil do Intl Silver pi do_accum. Pa P & Lt cu Pettib-M st pf. do 2d pf. 7 Resl Spgs pf A.. Direct’ to The Star Office. RAILROADS. Sules. High. 89% 100 . 86% 8946 102% 100% 9% %% 115% 80% 99% 106% 86% 95% 89 9% 42% 88% 1% B66% 80% b4 61 53% 58% 99% 1% 824 80% 80 18 7 103% 103 88 101% % 93 704 63% 64% 69% 109 107 93 108% 6% 664 88% 103% 65% 65% 9% 65% 63% 80% 69% 88% 8% 6% 9% 61 98 19% 87% 63% 44 101 62% 9% 80% 90% 7 94 99 108% 941 9% Low. Close. 88% 89% 100 100 86% 86% 89% 894 102% 102% 100% 100% 9% 99% “w 79 115% 116% 80% 80% 99% 99%s 105% 105% 86% 86% 95% 95% 7% 89 98% 99% 42% 2% 884 8% 9% 55% 65% 9% 80 64 54 60% 61 53% br% 99% 7% 82% 80% 79% 18 76% 103% 103 88 100% 1% 93 0% 62% 64% 69% 109 107 93% 108% [ 66% ¥8% 103% 65% 65 99% 65% 62 80% 694 88Y% 98% 95% 1% 61 98 19% 87% 63% 844 101 604 s £0'5 0% 77 93% 98% 107% 94% 39% 3% 69% ] 105% 9% 823 924 102 109% 3419 ¥6% 93% 924 80k 1% 82% 69% &5 93 80% 73% 5% 9% 2% 55% 61% 81% 97% 245 84 % 99% 101% 106% 824 56% 49% o1k R4 99% 5 64y 897 83 Bklyn-Manhat 6s. . Canada North 7s. Car Clinch & O 5 Car Clinch & O 6: Ches & O cv 4%s Ches & O gn 4% Ches & Ohio cv 68 Chi& Alton 3%s Chi B&Q gn 48°58. ChiM & St P 4s " CM&StPdb4s, Chi M&SL P cv 43, Chi M&St P rf 43 Chi M & St P cv bs ChIM &St P 6s.. Chi Rysbs..... ChIRT&P gn 4 ChiRI&Prtds ChiTH Chi Un Sta Chl & W Ind cn {s, Chi & W Ind 7% CCC&StLrrésA. Colo & Sou 4%s. ... Del & Hudson 6%s Den & Rio G cn 4s. Det United 4% Erie 1st con 4s Eri¢ gen 48 Erie conv 45 A. Erle conv 48 D. Erie con ext 7s. Gr Trunk ef db 6s. Great North bs. Gr North gen 7s Hud & Man ref 5 Hud & Man aj 5s. 11l Central ref 4a. 11l Cent ref 58 '55. Int Rap Tran bs. Int Rap Tr bs stpd. Int & G Nor 1st 6s. Int & G Nor aj 6; Iowa Cent 1st b Kan City Ft 8 Kansas City S 3 Kansas City 8 6. Lake Shore 45 '28. Lake Shore 4s ‘31 Louis & N uni 43 Manhat Ry cn 4 Market St Ry M & St L 1st ref M StP & SSM cn 4 MK & T adj bs... MK&TprinbsA. MK&T6sC. Mo Paclfic gn 48 Mo Pacific 68 @ [P @ IS - ® S NewOr Term 4s NOTex&M iIn§ N Y Cent gen 3% N Y Cent deb 4s N Y Centr b N YCent deb 6s. ... YChi&SL5% Y Ryrf dsctfs.. Y Rysadj 58 ct. Northern Pac 3 Northern Pac Northern Pacr Ore Short L ref 4 Ore-Washust rf 4s Pennsyl gen 4% Pennsyl gen Gs. Pennsyl 6%s © NWRRDWNR MO WO NSO = Reading gn 4%s. RIATk & L 4% St LIM&S és St LIM&S R&G 4s. StL&SFplds StL&SF prin§s, StL&SF5%sD. StL&SF adj 6s. StL&SF inc 6s St LS W con 4s°32. StP & KCShL 43 Seab'd A L4s. Seab'd A Lref 4s.. Seab'd A L adj bs.. 10 Seab'd AL con 6s.. 2 Sou Pacific 4s°29.. 13 Sou Pacific ctl 4s.. Sou Pacific ref 4 Southern Ry gn Southern Ry 1st bs Southern Ry 6s ct. Southern Ry 6%, Sou Ry Mobile 4 Third Ave ret 4s. Third Ave adj 5s. Union Pac 1st 4s. .. 10 Union Pac 1st rf 43 24 Union Pac 43°27... 9 Virginia Ryst5s.. 3 Western Md 4 6 Western Pacific 5s. 83 West Shore 1st 4s. 2 83% 80% Ti% 8514 9% 72% 56% 6% $1% 973 84% 884 4% 99% 101% 106% 82% 56% 49% 9y 85% 99% 95% 64% 91y 83% HUGE BUTTER STOCKS PLACED IN STORAGE Production Also Heavy During Week—Price Range TUnsettled. 84% 884 4% 993 102% 106% 821 56% 49% 1% 85% 9% 95% 64% 9y 83y By the Associated Press. CHICAGO, August 30.—Conditions were unsetled, with storage stocks in- creasing and ‘production continuing to be heavy in the butter market during the week. Supplies of all grades were short at Chicago, and barely sufficient to satis- fy buyers' needs, but on the Eastern markets the shortage was principally on the finer high scoring grades, with the medium and undregrades showing a slight accumulation. Trade statisticlans predicted that September 1 storage holdings will have a surplus of 50,000,000 to 53,000,000 pounds over the holdings of September 1, 1923. During the week storage stocks were increased 1,500,000 pounds. Although pastures are still good and conductive to good production, the hot weather of the week was favorable to breeding flies and mosquitoes, which, in some rections, caused a diminution of the milk flow. Prospects generally for a heavy Fall make are good. Possibility in export business devel- oping had a bullish influence. No for- eign arrivals were reported. Closing wholesale prices, 92-score butter and price range at the markets follow: Chicago, % higher, at 37%; New York, % lower, at 38%: Boston, 3% lower, at 39, and Philadelphia, % lower, at 39. —_— RAIL VALUES FIXED. I. C. C. Reports Findings on Three Southern Lines. The Carolina, Clinchfield and Ohio. Rallroad of South Carolina today was tentatively valued at $1,634,073 as of June 30, 1917, by the Inferstate Com- merce Commission. The Tug River and Kentucky Rail- road received a tentative valuation of $381,630 as of June 30, 1916. The Texas Short Line Rallway was valued at $196,836 as of June 30, 1318. DAIRY PRODUCTS. BALTIMORE, August 30 (Special).— Live poultry—Spring chickens, pound, 25a32; old hens, 18a26; Leghcrna, 24a 29; old roosters, 15; ducks, 17a22; pigeons, pair, 20a25; guinea fowls, each, 60a85; old ducks, 15a18. Eggs—Native and nearby firsts, dozen, offered, 37%; bid, 36; receipts, 1,140 cases. Butter—Creamery, 39%a41%; good to fancy, pound, 37a39%; prints, 39%a 41%; nearby creamery, 34a36; ladles, 30a32; store pa-ked, 37; process but- dary 34ads, SBeptember | Qetabes. FINANCIAL BATISH FOREI TRADESHOWSEANS July Second Best Month of Year—Startling Growth in Unemployment. By the Associated Press. LONDON, August 30.—British for- eign trade figures for July were the second largest this year, accord- g to a monthly summary of Brit- ish trade made public today by the American Chamber of Commerce in London. The British government, says the statement, has established & commis- mission of inquiry into trade with Sir Arthur Balfour as its chairman. Unemployment increased by 30,000 weckly to a total of 1,122,300 on August 12. There was widespread de- pression in the coal, iron, steel and shipbuilding industries. ‘The July production of pig iron was 611,800 tons and steel was 69,330 tons; furnaces in blast decreased by 11 to 174, Freights in July declined by 1.3 per cent. Tin was firm at £260 a ton; copper, spelter and lead weakening in price. The lowest level in raw cotton was touched this year at 15% pence. Busi- ness was steadily improving in cloth and yarn, but the short-time sytem is to be maintained until the end of the year. Wool wages were stabilized for an- other year and August business was wonderfully good. The July index number for wool, at 194, is 87 per cent in advance of the prices of July, 1914. The hide market was firm and the boot and shoe trade improved. The timber supply outran the demand and the chemical markets were slightly more active. Official inquiry by a departmental committee has condemned formalde- hyde as a food preservative. Rubber, restricted to 55 per cent of standard production, has risen to 14 pence per pound. — GRAIN AND PROVISIONS. BALTIMORE, August 30 (Special). —Potatoes, new, barrel, 1.00a2.25; bushel, 40a85; sweets and yams, bar- rel, 2.00a5.00; beans, bushel, 1.25a1.50; beets, 100, 3.00a4.00; cabbage, 100, 3.00a5.00; carrots, 100, 3.00a4.00; corn, dozen, 10a25; celery, bunch, 30a75; cucumbers, basket, 50a1.00; eggplant, basket, 90a1.00; lima beans, bushel, 3.00a3.50; lettuce, crate, 1.25a2.25; peppers, basket, 25a30; peas, bushel, 1.5022.00; spinach, basket, 90a1.00; squash, basket. 30a40; tomatoes, bas- ket, 40a60; packing stock, bushel, 1.00 al.15. Apples, 1.00a2.00; barrel, 2.00a5.00: bushel, damsons, pound, 3%ai; blackberries, quart, 10a12; huckleber- ries, quart, 10a12; peaches, basket, 25 a60; bushel, 75a2.25; melons, 100. 10.00 250.00; cantaloupes, basket, 25a60; pears, basket, 40a1.00; bushel, 1.50a Settling Prices on Grain. Vheat—No. 2 red Winter, 2 red Winter, red Winter, spot, garicky, garlicky, Sales—Bag lots of nearby sold at a range of 115 to 1.20 per bushel. Cargoes on grade, No. 3 red Winter, garlicky, at 1.24; No. 3 red Winter, garlicky, spotty, at 1.2 Winter, garlicky, spotty, at 1.18%. Corn—Cob, old yellow, 6.50 per bar- rel; old white, 6.35 per barrel; No. 2 corn, spot, no quotations; No. 3, no quotations; track corn, yellow, No. Z, 1.35. Sales—None. Oats—No. 2 new, 58a59; No. 3, no quotations. Rye—Nearby, spot, 98%. Hay—Receipts, 98 tons. There is no life in the demand for any grade of hay and current receipts of new hay are ample for all trade require- ments. The range of sales in hay 1s 16.00 to 20.00 per ton, with heated and off stock having no definite market value. Straw—No. 1 wheat, new, 12.00a 13.00; No. 1 oat, new, 13.00a14.00. CHICAGO LIVE STOCK MARKET CHICAGO, August 30 (United States Department of Agriculture).— Hogs—Receipts, 2,000 head; mostly 10 higher; light supply; light lights and slaughter pigs unchanged; top, 10.20; bulk good and choice 160 to 300 pound averages, 9.70a10.20; pack- ing sows largely, 8.50a9.00; bulk bet- ter strong weight killing pigs, 7.25a 7.75; estimated holdover, 5,000 head; bulk sales, 8.90a10.00; top, 10.20. Cattle—Receipts, 500 head; com- pared week ago: Fed and range steers very uneven; weighty fed kinds, in excessive supply, generally 75 lower;- few yearlings, handy- welghts and stockers and feeders, 25 to 50 off; western grassers, 50 lower; spots more; extreme top yearlings and handy-weights, 11.00; best big- welghts, 10.90; few above 10.25 late little net change in fat she stock; canners and bulls stronger; vealers weak to 50 lower. Bulk prices follow: Beef steers, $.00a10.00; western grass- ers to killers, 6.00a7.25; fat cows, 4.00 a6.00; fat helfers, 5.50a8.25; canners and cutters, 2.50a3.40; vealers, 12.00a 13.00; stockers and feeders, 5.25a7.25. Sheep—Receipts, 5,000 head; today's receipts mostly direct; for week around 9,200 direct; 247 cars feed lots; compared with week ago: Fat lambs 25 to 50 lower; sheep, 50 to 75 lower; feeding lambs steady to weak. Week's bulk prices follow: Fat lambs, 13.00a13.50; top range lambs, 14.00; fat ewes, 4.25a6.00; top, 6.25; feeding lambs, 13.00a13.25; top, 13.25; breed- ing ewes, 6.50a7.50. CHICAGO GRAIN PRICES. CHICAGO, August 30.—Ratification by Germany yesterday of the Dawes plan and some selling here to remove hedges against export sales over- night gave the wheat market here a steadier undertone at the start today. The easier tone in corn brought out some early selling of wheat, but the action of the market was rather disappointing to the bulls, the un- dertone not being as strong as was looked for. The market rallied quickly, however, on the appearance of aggressive buying. After starting % lower to % higher, September 1.24a1.24% and December 1.29%a 1.29%, the market steadied a trifle and then underwent a slight general sag. Ralns and somewhat lower tem- peratures in Nebraska gave corn a steady undertone at the start. The market continued under pressure, De- cember delivery dropping more than 2 under yesterday's finish. After stafting at unchanged figures to 1 down, December 1.12al.12, the mar- ket declined a trifle more, and then rallied. Oats were unsettled; starting at % up to % down, with December 52%a 52%, the market underwent a slight general further setback. Lightness of hog receipts and higher quotations at the yards gave firmness to provisions. 95a1.00; No. z rye, September December May. September October November RIRS— - aamaane 1235 LINCOLN BANK ADDS NEW DEPARTMENT Personal Service to Be Un- der Mrs. H. D. Reed—Other Financial Notes. BY CHAS. P. SHAEFFER. In keeping with its progressive policy, the Lincoln National Bank tcday announced the installation of a personal service department with Mrs. Helena D. Reed in charge, as director. Mrs. Reed was for four years con- nected with the Commercial National Bank of this city, and has only rec- ently returned from New York, where she made a comprehensive study of similar departments in successful operation there, She is a standard certificate holder of the local chapter, America Innstitute of Banking, and is chairman of the national women's committee of the institute, the high- st office within the gift of the 7,000 woman members. In a statement by Floyd E. Davis this morning he declared “the slogan l'odz.y of the entire banking world Is ‘service’ and the innumerable sery- ices rendered, not hit-and-miss fash- fon, but in a dignified business-like Wway, require the entire time and at- tention of at least one tratned mem- ber of the institute. The personal service department Will be a part of both the parent bank at Seventh and D streets and the recently established branch office at Seventeenth and H streets north- est, where the director will have her headquarters. Better Demand for Money. Indications of a better demand for money were seen in the weekly statement of condition of the Federal Reserve Bank system. The combined report showed an Increase in advances to member banks and also an expan sion in note circulation. The system's holdings of discounted bills expanded for the first time in several weeks, but there was some difference of opinion in banking circles as to Whether this reflected increased bor- rowings in anticipation of an increase in Autumn trade or merely prepara- tion for September 1 requirement. In- terior banks continued to withdraw on their balances to provide funds for crop-moving purposes. Road Planx Bix Bond Sale. The Louisville and Nashville Rail- road today applied to the Interstate Commerce Commission for authority to issue $17.829,000 of first and re- funding mortgage 4% per cent bonds, and to sell $16,000.000 of the issue. ‘The remainder will be issued In ex- change for a similar amount of 5 per cent bonds. The $16,000,000 block has been sold subject to the approval of the Inter- state Commerce Commission to the J. P. Morgan Company at 91.5 per cent of par. The proceeds will be used to reimburse the carrler's treasury for money expended for additions and betterments to the line. 368 Failures in Week. Commercial failures reported by R. G. Dun & Co., this week totaled 366, against 361 the week before and 309 in the corresponding week of last year. WEEK SEES LOWER SECURIIES PRIGES Oils Still Hurt by Increase in Output—Chain Store Sales Increase. By the Associated Press. NEW YORK, August 30.—Reaction- ary price movements continued to characterize this week’s securities markets with trading restricted by the approaching holiday. Selling un- doubtedly was for both accounts, but there was a dMference of opinion among expert observers as to the ac- tual volume of profit-taking sales Extreme weakness of a number of speclalties undoubtedly was due to bear attacks, based on Unfavorable trade and earnings developments. Trade News Mixed. Trade news was again mixed in character. Optimistic resumes of the steel situation by Chairman Gary of the United States Steel Corporation and the weekly trade reviews was counteracted to some extent by the reduction of the quarterly dividend on the common stock of the Youn, town Sheet and Tube Company. Like- wise, the establishment of a new high record for the year for railroad car- loadings was offset by July earn- ings reports showing gross revenues falling about 10 per cent below the same month last year, although sev- eral roads made encouraging gains in their net income. 0il shares continued to reflect the unsettled condition of that industry Another increase in daly production for the week ended August 23 and the publication of the semi-annual earnings statement of the Pan-Ameri- can Petroleum and Transport Com- pany showing $2.93 earned on the common, as against earlier estimates ot $i, stimulated the selling of the oils, the Pan-Americans breaking four points each in the early trad- ing yesterday. Chain Store Sales Increase. Chain store issues moved up in re- sponse to the local Federal Reserve report showing an increase in de- partment store sales. Baking issuss also developed several points of strength in reflection of higher earn- ings by the larger companies. Sharp setbacks occurred on such issues as American Ice, National Lead, Union Tank Car and Colorado Fuel The feature of the foreign exchange market was the temporary establish- ment of a slight premium for the Canadian dollar, which sold above par for the first time since 1922. Eu- ropean exchanges held fairly stezdy with trading restricted, awaiting the German Reichstag’s action on ihe Dawes bills. — GOLD SENT TO INDIA. NEW YORK, August 30.—The first large shipment of gold to India in several months, a total of $1,760,000, goes to Bombay today. The approach of the marriage season in India, when quantities of the metal are used, and recent firmness of the rupee were said to have encouraged the move- ment. The same steamship also will carry $2,000,000 in eilver from New York bankers. DOUBTS PACKING MERGERS. NEW YORK, August 30—L. F. Switt, president of Swift & Co., Chi- cago packers, sald, on his return from Europe, that he did not expect any mergers in the packing industry or that meat prices would change in the near future. There was ample meat supply in America, he assertéd, and no danger of a shortage. He de- clined to comment on the receivershiy 1225 proceedings affecting Wilson & Co,