Evening Star Newspaper, September 2, 1924, Page 26

26 * WALL STREET LIST TURNS IRREGULAR Steel Above 110—Motor Stocks Higher—Strength Shown in North American. BY STUART P. W Special Dispateh to The Star. NEW YORK, September 2.—The k market today had another hour of continued buoyancy. Then it ran into heavy selling and the price move- ment became increasingly irrcgular. United States Steel common got above 110. which, allowing for the dividend deducted last week, meant the highest price of 1924 Much stress was laid again upon the pick- ing up of the rail business, and it was predicted that the September state- cnt on unfilled tonnage would show for the first time in six This expectation was based | upon the statement by Judge Gary that incoming orders in August were 10 per cent larger than in July. Motor Shares Strong. Sentiment continued favorable to- ward the automobile outlook. and the ares of moter parts companies fig- cd in calculations along with thg the automobile makers themselve There were no noteworthy wains: the main feature was the way most of s held around their high Maxwell A got above but nily vielded to profit king. er contiu d to Dbe ught its hign of . and Huds Motors around its high of 30. At this latter figure the return on Hudson i SHIL 10 per cent h Mot returned to 130 were wn o in the princi motor parts ks dike Strombe Stewart Warner Rolle Bearing 1 this was the persistent weakness Motors. The Stre. That the dividend will be only considering whether reduced to 81 or a North of the rutiway section Sum Franc n which fecls sure cut and is it will be basix American few Gains. one features in the St Louis and insistont manner the common stock rising prices s sty might was isco. The wested buyine bsorhed that new Vio the property A larze Llock of en at ae, at int e North ter sioch prompily ran t with Columi. the public selling \merican which the S0tz This as the leade sroup. Mack Truck just about held its ention to the dec. dividend top. zbove ns ineer- utility Lrati White €3 A revival International ing thing wh compin low sellin e of prefr ubove 2 liked ai how. brices for the red Markets iy s sponse to the holiday announcement il first under the new that hence, the e regarded Second, there s the ng of the presidential campaign in ape of the appeals of the three candidates to the labor Overlook News. marke news developing over First, there was the that Germany hed reparations payment order of things. and Dawes plan might officially in effect its wrincipal turned out neither of these counted for much. Sterling s hivher. yet at the top of the day it was still over 7 cents in the pound below where it was selling when the London confereuce was su fuly conciuded. French francs Wise were Tu.ly quarter cent tireir fizure at that time, The most important feut: was the rather shar - of business. like- u under ‘e of the falling off in This, accom- [ irresolute price move- showed that the advance in the half of last week had been nothing more than one of the fluctfa- tions in a market which was feelinz its way and waitinz upon outside develop. ments. PRICES OFF AT CLOSE. ) the ment latter Bales About 800.000 Shares Day’s Transactions. in September moved up briskly in today's arly dealings on a fairly large ac- cumulation of . week end buying orders. The higher levels, combined with the raising of the call money rate from 2 to and then to 3 per cent invited « resumption of realizing and profit taking, causing considerable irregu- Jarity. Rails held fairly steady. Sales approximated $00.000 shares The closing was irregul selling of American Can, whi more than 2 points, brough widespread recession of price: dustrial shares in the late Baldwin, Crucible % U m Pipe ar among the many issue: poinis below Saturda quotations. YORK 2. —Stock s Active h yielded of in- dealings. cd States preferred to sell 1 s closing NEW YORK. — Stocks T under steady Bonds firm: Dawes ments aid Buropean is exchange steady: sterl moderately higher. larger crop « and feature pean buying. CHICAGO.— Wheat lower: large de- liveries. Corn barely steady. Cattle higher; shipping demund. Hogs steady to higher. NEW NICKEL PLATE SHARES PUT ON CURB By the Associated Press. NEW YORK, September of the new “Nickel Plate” Railroad Company, formed by the Van Swer- ingen interests of Cleveland to ac- quire the properties of the Erie, Pere Marquette, Chesapeake and Ohio, Hocking Valley and the present “Nickel Plate” road for unified con- trol and operation, were listed on the New York curb market today on a ‘when issued” basis. Trading in the stock will proceed pending the ex- change of shares for those of the five roads entering the system. Adequate provision will be made for minority stockhold of the vari- ous roads who decline to exchange their stock on the basis of the Van SWeringen offer, it was learned to- ddy. Through leases which will be ne- gotiated by heads of the constituent companies and submitted to share- holders for-approval, the latter will receive a certain price to dispose of their stosk outright or will be given fixed income in dividends. Both the Van Sweringen and bank- ers for the different roads, however, regard the terms of exchange as fair and likely to bring deposits of vir- tually all stock. e It pays to read the want columns of The 8tar. Hundreds of situations are procured through them. irregular; accumulation. develop- Foreign and franes Cotton lower: Sugar quiet Coffee advanced; Euro- ;| Atlantic Refin. 1 Chandler | o e formal launch- | another | FINANCIAL, Low. Ciose. 89 M 73 61 86 413, 4% 28 1529 115 169 24 44 1164 Open. High. 3 3y 9% 9% 74 74 61% 65 3% 37% a1y a2 7 T 29% |Adv Rum pt (3 { Ajax Rubber. . | Allled Chem (4). | Allis-Chalm (4). !Am Ag Chm pf. {Am Beet Sug (4) Am Beef S pf (6) Am Bosch. : Am Can (+6 Am Can pf Am Car & Fy(12} Am Chain A (2). Am Drug Synd. . Am & F P 25%(7) |AmFor P f pd(7) {Am Hide & Leu .. {Am Hide & L pf. AmIce (7).. . | Am Tee pf (6). Am Internatl AmLaFFE (1). Am Locomo (6). Am Metal (3)... Am Radiator (1) | Am Saf R (50¢). 1Am Ship & Com. AmSm & Re (5). {AmS& Ropf (7). Am Stl Fdys (3). Am Sugar....... Am Sugar pf (7) |Am T & Cab (5. AmT & Tel (9). Am Tobac ( Am Tob B ( Am Tobpf (f).. . Am Water Wks. |Am W W pf (6) . Am Woolen (7). |Am Zine. .. | Am Zine pt.. | Anaconda . tArm of Del {7y | Asso Dry G (5) Asso Ol (115) [ALT& SFe (6). Atl Birm & At. Atl Coast L (18). AtGulf& WL, | AtGulf & W I pf { Buld Loco ( Bal & Ohio : | Bal & Oh pf (1) | Barnsdall A . ... h Nt (2.40) Bethlehem Stcel Brik dison (s). Brk-Man Tran. Br Man T pf (6). Brklyn Un G (4) Burns Br B (2) Butte C & Zine Butte&sSuperior. acking (6) Cal Pet (13,) Cal Pet pf « <'g pf eather Co t Lea Co pf. Alton Alton pf West pf Th Mil & St Paul Ch Mil & St P pf. Chi & Nwn (4).. ChiRT Gk ChStP Min & O. . Chi Yellow C (4) Chile Cop (21%). ~hino Copper. . Clu. Peab pf (7) Coca-Cola (7).. | Colo Fuel & Iron Colo Southern. . 1Col G & E (2.60). 101 7% 38% a5 401 {Col Carbon (4).. 43 [ Com Ir Tr (63¢c). [Com Solv A (4).. Com Solv B.. ngoleum (3 | Consol Gas (5) .. | Consol Textile. . | Cont Can (4) Cont Mot (20¢) rn Pr R pf (7) | Cosden C | Crucible Crucib 0 (45, 21 pf (1) 60 ary Su f hmans (3)... amel Fr (4). | Pan Boone M (3) ! Davidson Chem. | Del & Hud (9). |Del L& W (). I1Det Ed Co (8).. | Dome Mines (2). | Doug-Pectin (1) IDuPtdeN (8).. | Eastman (47%). Endicott pf (7) | Erie 1st pf | Erie 2d pf. | Fairbks (2.60). Famous Pl (8) .. [FaM&Spf (1. | Fisk Rubber.. . 9% | Fisk Rubber pf. 64 | Fleischman 1315, 73% | Foundation (6). 6% | 'Foundation rts. Freeport-Texas. 4514 126 126 1091 15% 117 JEZEN 110% 1 109 29 40 40 2814 81% 52% 8y Gardver Motor.. 4 Gen Asphalt.... 44 General Elec(8) 274 Gen El spe (60c) 1% Zen Mot (1.20) .. 147y Gen Mot db (6).. 8% {Gen Mot pfn (1) 97 |Gen Petm (... 414 | Gimbel Rros. 58 | Gimbel Br pf (1) 103 Goodrich....... 24k Goodrich pf (7). &% |Goodvearpr.... 58k | Grdvear prof (8) 96y ! Granby Consol.. 20 |Gray & Davis... 41 |Gt North pf (5).. 678 Gr Nor Ore (3).. %0 | Grt Wstn Su (8). 87 Gr Canan Cop 16% Guantan Shgar.. 7 Gulf Mo or.. IR |Gu 3o & Npf (5) 67% | Gulf SUStI (3)... 76% | Hartman Co (4 Hayes Wh'l (3). Houston Oil. ... | Hud Mot C (3).. | Miinois cent (7). 11 Cent pf (6) | Inland St1 (23 | Tnland St pf (7). Inspiration Cop. Interb Rup Tr. | Internat Agri Internat Ag new. 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 RysC A pf. | Invincible O} Jones Bros Tea. Jordan Mot (3). KC P&L st (7).. Kan City South. | Wan € So pf (4). | Kelly Spr Tire. . Kenne Cop (3). { Kinney G R Co... | Kresge Dep Str. Leh Val (3%). Lig & Myrs (3).. Lig & Myrs B (3) i Lima Loco (4)... Loews Inc (2). Loft Incorpor. 6% Lorrillard (3)... 40 Louts & Nash (6) 100 Mack Trucks (6) 98% Mack Trucksrts, 3% Mack Cos pf (4). 64% Magma Copper.. 387% Mallinson & Co.. 23 Man ElSup (4).. 43% lmm Elgtd (4).. 78 294 | 270 | 1% 5% 102% 49 26% 94 10% 41% 18% 49% 15 53 124 20 824 96 21% 53% 16% 49 1 7 52 B4% 63% 621 624 17% | 6% | 39% 100 98% 34 64% 37 23 3% 80% 6in 39% 99% 9% 8l 645 36% 23 42% 8 | Pan- THE EVENING STAR, WASHINGTON, TREASURY BUYING | Coxee vomx BONDS srocs v Received by Private Wire Direct to The Star Ofice, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. CI 46 29 8 825 33 40% 61 18% aT% 2t 24 1 Open. High. 46% 29% Man El md gd 4. Maracaibo Oil Market St R Marland Oil. ... Martin-Parry (4 Mathieson Alka. Maxwell Mot A Maxwell Mot B. May Dept St (5). Mex Seabd (2).. Mian Cop (2).. Middle St Oll. . M SLP&SSM (1) . Mis Kan & Tex. . Mis K & Tex pf. Missouri Pacific Missouri Pac pf. Montgom Ward. Moon Mot (3). Mother Lode 75¢ Munsingw'r (3). Nash Mot (110).. 324 ne Atk ult (3 67% at Dairy (3). TS Nat Lead (%). Naut Lead pf ev Cons Con Or T&M 1231 Air Br () YABrA (. Y Canners Y Central (7). Y C & StL (6). C&SUL e (6). NY NH & Hart.. N Y Ont & West. rfolk South. W (18 T Am (2.40) 29% orth Am pf (3) . §43% North Pac () 6t Oh ¥ Sup 38 Orpheum ( 20 Otis Steel. . Owens Rot (3 108 507% 28 1091, 1y {Owens B pf (1) Pucific De P Packard (1.20). Pan-Amér (4). . mer B (4) Park & Tilford op Gas Ch (7). 101 oria & East 157, Pere Marq (1) Pere Mar pf (3) Pere M prpf (5). Phila Co (4). Phila & R& 1 Pitts Ut pt (1.2 Pitts Ut etfs 1 Pitts & West \ P& WY Postur Pross Fullman Co (8) Punta Al Su Pure Ol (114 1294 Ry Stl Spg ()., Ray Cons Cop ading (1).. Reading rts Read Tst pf (2) Rem T 1st pf (7) Replogle Steel. Rep Ir & Steel Reyn'ds Spgs (1) Rey Tob B (3).. ssia Ins A (), Roy Dtch (3.46). Rutland pf. .. St Joseph Ld (2) S1LSThopfo( selalte (8) board Air L ah'd Afr Lopf rs-Roebk () 105% Shell T'n Of1 (1) | Shell Un pf (6) .. ~immons Co (1) ams Pet. Sinelair Oil. Skelly Oil ... .. Sheff (8). South Pac (8) suthern Ry (5) Spicer Mfz Sta Gas & EI StOil Cal (2). StOIN T (). St Oil N J pf (T). 118% td P1 Gl (T5¢).. 29% tew't Warn (5). 54'% tromberg C (8) 67%. tudebaker (4). 39% Submarine Boat. Superior Ofl. ... Sweets Co of Am Tern C & Sh. Texas Co (3).... Tex Gulf (1814). Texas & Pacific. Tex & PacC & O. Tide Wat Ofl (4) Timken (13%).. Tob Prod (6).... Tob Prod A (7).. Transcont Oil. .. Underwood (3). Un Bag Pa (6).. Tn Pacific (10).. Un Pac of (). Un Tank Car (5) Utd Cigar Stores United Drug (6) U D 1st pf (31%). Utd Ry Invest pf U S Cast Iron P. U S Distributing U S Hoff Mach. . U S Ind Alcohol. Sloss! |u USR&IDL (.. U S Rubber. USR1stpf (8). U S Smelting. ... U S Smt pt (314) U S Steel (16)... U S Steel pf (7). Utah Copper (4). Utah Securities. Vanadium Corp. VaIr C&C pf (5) Va Ry & Power. Vivadou. 5 Wabash........ Wabash pfA. ... Wald Sys-(1%). West EI pf (7). West Maryland. West Md 2d pt Western Pacific. West Pac pf (6) . West Alr Br (6). West E& M (4). Whi & L Erle. Wheel & LE pf. White Mot (4).. Wickwire Sp 5tl. Wilson & Co. . .. Wil & Copf..... Willys-Overld. . Willys-Ovd pt... Worthing P'mp. Wth P fA (). W'th P pf B (6). Wrig W Jr (3).. 41% Yellow Cab (5).. 53% Youngst S&T (5) 66% tPartly extra. $Payabis ‘Dividend rates av gi are the aunus fatest quarterly ‘or balf-yea Unless otherwise noted. dividends are pot incloded. 15 115% 12 20% 21 70 93% 64 12% 22 65 1% 6% 17 9 7 29% 8% 67% 16 15 115% 12 20% 20% 0 93% 685 12% 22 64y 14 6% 17 R 0% 2974 8% 67% 4lia 52% 68 63 67 6o% 67 ip preferred siock. o the above table based on_the deelarations. extra or speelal 20% 21% 70 93% 64 12% 22 65% 1% 6l 18% 9 71 50% 8% 67% 4% 22 64y 1% 6% 18 8% 0% 0% T% 67% 4l A EARNINGS TAKE DROP. NEW YORK, September 2.—Ameri- can Agricultural Chemical Co. earned net profit of $112,463, after interest, depreciation and reserve, in the year ended June 30, equal to 39 cents a share on the preferred against $501,481, or $1.75 a share on the preferred in the previous 12 months. Profit and loss. deficit totaled $19,404,875, compared with $12,817,684 the year before. | The | stages | bonds were | Kingdom of Belgium 2j-year ¢ | 94 to yield over reported closed early in the day. but it | bonds | 3 i have been permanently placed. Belgian | road { Haven, Seaboard, Norfolk and West- | of Belgium externa LIBERTY BONDS Market Steadier—European Issues Firm—Coffee Liens Active. BY GEORGE T. HUGHES. Special Dispateh to The Star. SW YORK, Scptember bond market opened but quiet. 2—The the week firm Banks appeared to have wm.g_run from the buying side, but ® few large fnstitutions were re- ported bidding for high-grade under- [ 1¥ing railroad iIssues, some of them of the more inuctive type. New Or- leans terminal 4s iy an example. The demand for short term maturities which was 5o prominent last month has been about =atisfied and quota- tions for such wecre shaded in con- sequence. Tnited States Government loans were a_trifle heavier. It was reported from Washington that the Treasury had again entered the market, taking advantage of the drop of last week. inference was that Secretary Mollon did not expect any pronounced declin in Liberties. Today's reports were that the Treasury offering of September 15 would take the form of $300,000,000 in short term notes and that the coupon rate would be about wee same us that of the last offering, which was per cent. Speculative Activ, I the speculative rails the feature was the insistent buying of I. G. N. adjustments und the firm tone for both St. Louis, San Francisco income | 65 und adjustment 6s. Of the indus- trials Wilson & Co.'s obligution a sharp recovery, particu- larly in the convertible 6s and the convertible 135, The first mortgage 65 gained lesser degree. Copper generally higher, with Chile Copper 6s the leaders. In the sugars Punta Alegre Sugar 7s were up a point. Interest in the foreign group cen- tered in the new offering of $30,000,000 at Books were in 7 per cent. remains to be eeen whether the 2¢ were steady, but the 8s yielded a tion. There was no important change in_French bonds. Today's new issucs included $1.300,- 0 Central Indiana Power 5i: per nt collateral notes due 1927 to vield 60 per ceit. Liberty Bonmdx St By the Associated Press. NEW YORK, September s resumed their upward trend Topean issues were firm, Ameri bonds eased off of continued abnormal Brazil. of the CUnited States Treasury into the open market to purchase Liberty bonds for sinking fund requirements steadied the Gov ernment lists Contrasting pri; movements muarked trading in r liens, improvement in New dier. Bond but South on reports conditions in -entranc ern and Southern heing offset by Central 4. refunding 4 41 Railway _issues heaviness of Illinois Delaware and Hudso1 and Northern Pacific Industrials were firm. witn is of 1 to 3 points recorded by Chile Copper s, Magna Copper 7s, Punta Alegre Sugar 7s and the Wil- : 1$30,000,000 BELGIAN BONDS QUICKLY SOLD Oversubscription Reported on Of. fering Made Today—Yield Over 7 Per Cent. W YO fering today K, September 2. of % The ot ,000.000 -Kingdom vear 61 per cent gold bonds, was over sub. | seribed. The price is 94 and accured interest {to vield slightly more than 7 per cent i Provision is made for monthly sink- ing fund payments beginning October 1, 1924, at the rate of $1,200,000 an- nually, to be used, it was stated, to purchase bonds if obtainable at not more than 100 per cent and accured interest. Any enpended portion of the month- ly sinking fund payments at the end of the month will be credited against the next payment. The proceeds of the bonds will be used. to retire $27,000,000 Belgian government maturing January 1. 1925, Theunis, Belgian minister of finance, having pointed out that after this 4nancing and the retirement of the dollar notes provided for by this issue, the government external debt in the hands of the public would be ap- ‘proximately $161,000.000 at current exchange rates, excluding govern- mental loans and advances to Bel- sium. TREASURY CERTIFICATES. Quotations furnished by Redmond & Co.) ——Noon.—— nid. Offer. . 100332 To yield. D 100% 100732 .0 100916 101 11-16 . 100 11-16 100 13-16 D10 101k 101 316 101 5 102 September 15, December 13 March SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Aluminum Co. of Amer. 78 1925. Aluminum Co. of Ames 1833’ American Sugar s 1 ‘American Tel. & Tel. 68 Anaconda Copper 6s 1929, Anglo-American Oil 73,8 1925 Associated Oil 6s 1985, ell Tel. of Canada 5s 1923, Canadian Northern 5%s 1924 Central of Georgia Gs 1929. Central Leather 0s 1925. Chi., Mil. & St. Paul 68 R. 1 & Pr Du_Pont 7%s 18] Federal Sugar Ref és Fisher Rody Corp. 6s 1927. Fisher Rody Corp. 6s 1928. Goodyear T. & R, 8x 1931. Great Northern 75 1936, Gulf Oil Corp. of Pa bijs 1928, Humble Ol 5%s 1932, Kennecott Copper s M., St P. & 8. 8. M. 61, Morris & Co. 748 1930. ew York Central 6s 1935. | Oregon Short Line 4s 1929, 1930, Penna. R. Pure OIl 5%8 1925 Swift & Co. o 1 Tidewater Oil TUnion Tank Cs U. 8. Rubber 7% Western Unfon ‘6% 1 Westinghouse E. & M. 7 Wheeling Steel 6s 1826, " RATES ON BAR SILVER. TONDON, September 2.—Bar silver, 347-16d per ounce. Money, 2 cent. Discount rates—short bills, 3% 2311-16 per cent; three months, 3 13- 16a3%. NEW YORK, September 2.—Bar sil- ver, 68%; Mexican dollar, 527%. BUTTER UNSETTLED. "CHICAGO, September 2.—Butter un- settled; creamery, extras, 3 dards, 36%; extra firsts, 355a36; first, 34a35; seconds, 32a33. - Eggs highar; receipts, 16,965 cases; frsts, 23a35; ordinary firsts, 30asl, D. C, TUESDAY, SEPTEMBER 2, (Bales are 1a $1,000.) UNITED STATES B8ONDS. (Fractions represent thirty - secondu. Example: 93-3 means 98 3-32.) Sales. High. Low. Close. Lib 3%s. 52 100-26 100-24 100-26 Lib1st 4 . 134 102 101-26 101-26 Lib2d 4% 221 101=4 100-30 100-30 Lib3d 4%s... 428 1021 101-51 10: Lib4th 4% 657 102-2 101-28 101+30 USB4%s1962.. 12 104-30 10426 104-26 FOREIGN. High. Low. Close 93 3 105 103% 96% 96% 100% 100% 109% 109% 107% 107% 3% 89 82% 964 101 102% 103 1034 97% 104% 108 106 10 95 96% 9974 99 104 Argentine Argentine Austria 7s. Belgium 6 Balgium 7% Belgium Bolivia 8s. . Bordeaux 6s. Brazil 7s. .. Brazil 8 Canada 651926 Canada 6s 1931. . nada bs 1952 Canadu 5%s 192 :h“' 73 1943. ile 851941 . 11¢ 85 1946 Christiuniu 5s “openhagen 61is {Cuba 5ige. .. & Caecho 8s 15 ©zecho 8y 1952 Danish Munic &a A Danish Munic 8s B 1 Denmark on a2z Denmark £x o1 Dutch 16 52 DET5%x ot a1 Duteh East 168 47 21 Duteh East 16562 51 El Salvador 85 '48. Framerican T4%s. French Govt 7%s. . French Govt 8 Halti6s....... Hungary 615s. .. Ttaly 6145 1926. Japanese 4s. Japanese 2d 41 Japanese 633 Jergens U M 65 '4 | Lyons 6s. . Marseills 63 Mexico 4s 04 asnt. Mcxicobs. . Montevideo 7 Netheriands 6s etherlands 6s Norway 65 1943.. . Norway 65 1952. . Norway 8s. Parls-Ly's-Med 6s. | Prague Tts...... | Queensland 6s. Queensland 7s. Rio de Jan 8s 1946 Rio de Jan 85 194 Sao Paulo City 8s | Sao Paulo State 8s. | Seine Dept. of 7s. . | Serbs Crotes Slo 8s | Sweden 68 Swiss 5las 1946 i 'wise Confed 8s TokloSs. . ... Ud Kingm 8%y Ud Kingm 5%s '37. Uruguay 8s. . | Zurich #s. ... MISCELLANEOUS. Ajax Rubber 8« . 92"y A Agr Chem 7 947 | Am Smit&R 1xt 5s o4 AmSmit&R 6s.. 104 Am Sug ref 6s 100'% [AmT & Tl trds 274 | Am T&T cl tr 5= 1011 {AmT & Tdeb5 ie | Anaconda 1st 6s. 981 | Anaconda cv db 7s. 77 101 | Armour & Co 41s. 851 Armour of Del 5.8 44 92 Associated Oil 65 100% Atlantic Refin 5s. . o8 i Bell Tel Pa s . | Beth Steel pm 5s. | Beth Stecl rf 55 | Beth Steel 5135 | Beth Steel s € 65 ! Brier H St 1st § ! Bklyn lidison 7 {Bhiyn Union G 35 Bush T Bldg 5% ‘60 Calif Pete 6. .. Central Le: hile Copper 65 CinG&F 5% "0l Gas & 1 5x sta mmonswth P 6s.. Con Coal Md 1st 5s | Consumers Pow Cuba Cane cv d §3. |<Cuban-Ain Sug 8s. Denver Gas Det Edison ref | Donner Steel 7; 1 Du Pont de N 7% | Duquesne Light 63 Est Cuba Sug 71 Empite GEF 7 Francie Sug 7 | Gen Elec deb Goodrich 6 Goodyear 8s 1 Goodyear 83 1941 Hershey 65 1942. Humble O&R 5%s. 19 Tilinofs Bell 1st 6s. 16 Illinols Steel 4%a.. 4 Int Me? Marine 6s. 3 Intcr Paper58°47.. 2 KCP&Lt5sA'S2 6 KanG & El 68'52.. & Kelly-Spring 8s. Lackawa 8 63 ‘50 Liggett & Myrs Liggett & Myrs 7s. Lorillard (P) bs. Lorillard (P) Magma Cop cv 7s. Manuti Sug sf 7% Marland Oil T%s. Midvale Steel 5s ¢ Montana Power 5. Mor's&Co 15t 4338, New Eng Tel 6s. N Y Eden 1st 6%s.. NYG EL H&P is. NY Tel 4 N Y Tel 68°41.. N Y Tel 68°43. North Am Ed 6s. North Am Ed 6%s. Nor States Pow 5s. Nor States Pow 68 Northwst B Tel 7. Otis Steel 7%s. Pacific Gas & El 53 Pac T & T 1st bs. Pacific T & T 555 104 1004 64 8t 10 Phila Co 5% Phila. Coref 85 A.. Phil & Rdg C&I 6 Plerce-Arrow 8: Pierce Oil deb 8 Public Service 58 Pub Serv Elec 68 Punta Alegre 78 Sinclair Ofl 6%s. Sinclair Oil 7s. .. Stn Crude Oil 5%s. Sin Crude Ofl 68 Sin Pipe Line 58 South Bell Tel & So Por Rico Sug 7s. Southwest Bell 6s. 108 Steel & Tube 7s. ... Sug Est Orient 7s.. Tenn Elec Pow 6s.. Tide Wat Oil 6% Toledo Edp 1st 75.. Union Bag & P 6s.. 1 Unit Drug cv 8s... & U S Rub 1st rt 6s... 10 U S Rubber 7% U S Smelter 65 USsteclafbs Utuh Pow & Lt Va-Car Chem 7s... 26 Va-CarChi1%ssw & Vertientes Sug 7s. 2 Warner Sug 78’41, Western Elec 5s West'n Union 6 Westinghouse 7=, Wickwire Spen 7 Willys-Ov 6%a'38. ‘Wilson & Co 1st ts. 37 Wilson & Co cv 6 Wilson&C cv 7%: 53 102 101% Youngstn S& T 6s. 22 96% 95% —_— 3 9 2 5 It pays to read the want columns of The Star. Hundreds of situations are procured through them. 1924, RAILROADS Bales. High. Lew. Close. 16 824 82% 82% 1 88% 88h 88% 1100 100 100 18 87 86% 8G% 15 89% B89 894 13 85 8i% B4% 3 102% '02% 21 100% 1004 12 100 99% 2z 67% 67% 23 19% W9 2 87% 8% 11 118% 116 115% 80% 994% 105% 98Y% Atchison adj Atchison gen 4s... B&Oprindizs... B& Ogold4s..... 100% 100 67% 9% Bi% 116% 116% R0% 99% 105% 298y 86% 26 88% 29 61% 42% 101 0% B5% 85 304 73% 647 60 81 53% 583 99% 97 110 77 D &OSWaiviy B & O Tolcdo 4s. ... Bklyn-Manhat 6a. Buff R & Pitt 4%s. Canad North 6% Canad Pac deb 4 Car Clinch & O 5t Car Clinch & O 6; Cent of Ga b%x. tral Pacific 4s. es & O cv 4%». Ches & O gn 4%n.. Ches & Ohjo cv b Chi & Alton 3s. Chi & Alton 3%s Chl B&Q 1st rf 58. *hi & K111 gn Gs. .. “hi Great West 4. M & Pugel 5d 4s. ‘hiM & St P 4s°25. *hi M&SL P 45 '34. . % CM& St Pgn4iys. Chi M&ESt P rf 412s Chi M & St P cv bs. ChiM&SLPS6s.... Chi& N Wref 5s.. Chi& NW 6%s Chi Rys Bs.... ChiRT1&Prf4s ChiTH& S E 5e Chi& W Ind c Chi & W Ind 7%, CCC&StLbx. ... COC&StLrf6s A, Cleve Term 5s..... Cleve Term 5138 Cuba R R 5. Del & Hd 15t rf 4s. D&RG1strf5s.. Det United 4138, rie 1st con 4s. Eric gen 4s. Erieconv4s A. Erte conwds B. rie conv 4s D rie con ext 7 Erie & Jersey 6s.. Erie Genessee R 6s GrTrunk <f dh 6s.. Grand Trunk 7s... Great North 5s. .. Gr North gen 514s. Gr North gen 7s. .. Green B & W db B. Hud & Man ref 5. . Hud & Man aj 5s 11l Central 5%s. Int Rap Tran bs. Int Rap Tr 55 Int Rap Tran 7 int & G N Kun City Ft S 4s Kunsas City S5s.. Lake Shore 4x 31. h Val cnds. . Lehigh Valley 6s. . Louis & N 5s B MK&Tadjbs.... MK&TprinésA. MK&T6sC s Mo Pacific gn Mo Pacific 55 65, Mo Pacific 6s. . . Montrl Tm 1st 53 New Haven d 4= 57 New Haven cd 6s. New Haven 7s.. .. NYOnt& Wret 48 Y Ry rf 4s ctfs N Y State Ry 4 NY W & Bos 41 Norfolk & W ev 63, | Northern Pac Northern Pac 4s.. . Northern Pac Northern P: Ore Short L ref 4s. Ore-Wash 1st rf 4s 1 Ponnsyl con dls. . Pennsyl gen 43%s.. 2 Pennsyl ge - | Pennsyl 638 'l gold 7s... Peoria & I inc 4s. . Perc Marq 1st b3 Reacing gn 4 : RIATK & I4%s. . St L IM&S R&S s L&SFpldsA.. 4 StL&SF5%sD.. 4 St L& S F adj 6s.. La SF inc6s L&SFplésC.. LSWlstds.... LS W con 4s'32 P & KCShL 41zs. San A & Arn P 4s.. Seab'd A L ref 4s. Seab'd A L adj 5s. Seab'd A L con 6s. Sou Pacific ctl 4s. Sou Pacific 4s'29. Southern Ry gn Southern Ry €128. Third Ave ref 4s. Third Ave ad) bs. Union Pac 1st Union Pae Ist rf 4s 21 Union Pac 4s°27... 41 Virginia Ry st 5s . 11 Ry & P 1st 5s... 47 Western Md 4s.... 4 Western Pucific 5s. 13 Wisconsin Cent 4s. 1 — BUSINESS TOPICS. ST. PAUL, September 2 (Special).— The St. Paul Gas Light Company will start the experimental use of a lig- nite coal pulverizing process In its new plant here within 10 days. The Great Northern Railroad is making similar experiments and success of the trials, it is thought. will insure a large market for Dakota lignite among Northwestern industries PITTSBURGH, September 2 (Spe- clal).—Pittsburgh district coal trade has been gradually improving in point of tonnage, this being due deal- ers believe to increased operations among district steel mills. Produc- tion is low relative to capacity, but is decidedly better than the June and July average. Prices are unehanged. .12 65y 924 64%, 91 815 NEW YORK EGG PRICES. NEW YORK, September 2.—Eggs ir- regular; receipts, 5,594 cases. Fresh gathered, extra fi 35a37; do. second and poorer, nearby hennery whites, ¢ ed extras, 53ab6; nearby and nearby western hennery whites, first to aver- age extras, 40 nearby hennery browns, extras, 44a48; Pacific coast whites, extras, 50a51; do. first to extra firsts, 40a49; refrigerator, extra firsts, 34%%a36; do. first, 32%ad4. 2 S ATLANTA RENTS CUT. ATLANTA, September 2 (Special).— | August building permits have passed the $2,000,000 mark, and the moving of families, which post office author- ities say has been heavier than usual, has stimulated sales of furniture and household goods. Rents have been re- duced 10 to 15 per cent. Find Prehistoric Cave Dwellings. KRASNOSARSK, Siberia, September —Two explorers, Auerbach and Sosnovsky, are reported to have dis- covered the cave dwellings of pre- historic inhabitants of middle Siberia. Some 700 utensils made of stone or of bones were found, as were also articles of adornment and t! ters of chieftains. 102% ¢ < |longz ve FINANC COTTON QUOTATIONS LOWER IN TRADING | Large Volume of Southern Selling | "Weakens Values After Holiday. By the Associated Press, W YORK, September 2. —IRela-| Iy firm Liverpool cables failed to create much buying power in the| cotton market during today’s early | trading. After opening steady at a net de- cline of 1 to 20 points, active months | moon showed net losyes of 18 to 2o points under liquidation and local and Southern. selling. A considerable volume of Southern selling was sup- posed to represent an accumulation of hedging over the holiday. Le- cember eased off to 24.10, and while there was covering and some scat- tered buying on crop deterioration reports from the South, it was sup- plied on rallies of 4 or 5 points. A yprivate crop report made the condition 62.6 and the indicated crop 12,407,000 bales. Cotton futures closed barely steads. Market Quiet. NEW ORLEANS, September 2—The cotton market opened about steady. Liverpool, after declining during the American holiday, rallied today and was sbout as due when American markets opened. First trades were 3 points up to 12 down here, but the market eased off at once, owing to the execution of a large volume of selling orders accumulated over the double holiday. October traded down to 23.65, December to 23.80 and Jan- uary to .95, or 23 to 32 points be-! low the close of last Saturday. Trad- ing, which was active at the start, quieted down after the accumulated | selling orders had been disposed of. Cotton futures closed steady at net decline to 31 points. High % of October December January’ March . May Opening January., 24 CHICAGO LIVE STOCK MARKET | CHICAGO, September 2 (United States Department of Agriculture).— Hogs—Receipts, 42,000; qualified kind, 10 to 15 highe underweight and lower grades, slow: top, 10.35: bulk, | 8ood and choice 160 to 325 pounds, ! averaging 9.85 to 10.30; desirable 146 | to 150 pou 5.60a9.20; majority, | packing bulk, be | strong-w, ht slaughter pi | cattie—r 5,000 H hipping de ¥ steers and vearlings, unevenly, 40 higher: spots, more; early, 1 ling 11.00: numerous load: 110.00410.75; comparatively few choic Ineavi here; weighty steers, showin; | full advance: western grass offerings |showing upturn: bulk, early sales to kille 3047.00; few lots to feeder buyer: downward: fat, she| tock more in spots on de- | sirable beef heifers; cunners, strong; | bulls, strong to 25 higher: beef bulls, | showing most upturn; vealers, evenly higher: bulk. around 1 early to pac fairly er. Sheep—Receipts, 3,000; dull: few carly sales: fat. native lambs around 25 lower, at 13.00; few to city butch- ers, 13.65a13 : sorting, light; early bid on westerns, 25 to 50 lower: no | carly sales: bulk of run feeders:| sheep, steady: odd lots. fat ewes, 4.00! 45 no action on feeding lambs, i CHICAGO GRAIN PRICES. | CHICAGO. September 2.—Firmness in Liverpool cables and reports of frost in parts of the Canadian North- | west had a tendency to give wheat v an upward slant during the here today. the | ecared a (air amount , of selling by sh houses. however, | { which brought about a derate re- | cession from the top. After opening at % to 1% higher, September, 1 to 1.25. and December, 1 the market underwent zeneral setback. Corn mpathized with wheat and reports of cooler weather over the corn belt. the December delivery | being slightly firmer as compared | | with May After starting % lower| to 1 advance. with December 1.13% | ‘ln 1.14, the market scored gains on all deliveries. Oats started unchanged to % up December 523 to 32%, and later| sagged a little all around. Provisions were firm in line with | higher quotations on hogs. WHEAT— High. September b=y 1301 13613 broad i active, strong ce there 4 B | iy | | l OR! September T “RIBS: September October 35| | | (Spe- | 1.004 bushel, 40a85; sweets and yams, GRAIN AND PROVISIONS. BALTIMORE. September 2 cial).—Potatoes, new, barrel, barrel. 2.00a5.00; beans. bushel, 1.zoa | 1.30; beets. 100. 3.0024.00; cabbage, 100.° 3.0025.00; carrots. 100, 3.00a4.00: corn, dozen. 10a23: celery. bunch. 3va 75: cucumbers, basket, 30a1.00; egg- plant. backet, 90al.00: lima beang, bushel, 3.00a3.50; lettuce, crate, 1.zoa 2.25; peppers, basket, 25a30: peas, bushel. 1.50a2.00; spinach, basket, Y0a 1.00: squash, basket, 30a40; tomatoes, basket, 40a60; packing stock, bushel, 1.00a1.1 Apples, barrel, 2.00a5.00: 1.00a2.00; Damsons, pound, 3i:as; blackberries, quart, 10al2; huckle- berries, quart, 10a1%; peaches, basket. 25a60; bushel, 75a2.25; melons, 100, 10.00a30.00; cantaloupes, basket, Zoa 60; pears, basket, 40al.00; bushel, 1.50a2.50. Settling Prices on Grain. Wheat—No. 2 red Winter, spot, 1.36%; No. garlicky, 3 2 red Winter, 1.28; No. red Winter, garlicky, 1.24%. Sales—Bag lois of nearby sold at bushel, Cargoes on grade, No. 2 red Winter, garlicky, at 1. No. 3 red Winter, garlicky, at 1.24; No. 4 red Winter, garlicky. spotty, at 1.20; No. 5 red Winter, garlicky, spotty, at 1.16. Corn—Cob, old yellow, 6.50 per bar- rel; old white, 6.35 per barrel; No. 2 corn, spot, no quotations: No. 3, no aquotations; track corn, yellow, No. 2, 1.35. les—None, 5 Oats—No. 2 new, 58afs1; No. 3, no quotations, Rye—Nearby, spot, 99%. Hay—Receipts, 44 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 Is 16.00 to 20.00 per tom, with heated and off stock having no definite mar- ket value. B Straw—No. 1 wheat, new, 12.00a 13.00; No. 1 oat, new, 13.00a14.00. —e It pays to read the want columns of The Star. Hundreds of situations are procured through them. 3 95a1.00; No. 1000, of which $137, | changes. | turned | of {a full report made. not be | ment | 160 | broke into the a range of 1.16 to 1.25 per bushel. |} IAL. BUSINESS G0OD - August Bank Clearings Above Last Year—Local Ex- change Active. BY CHAS. Despite mer, £ood P. SHAEFFER. the unusually torrid sum- weather and the absence of a proportion of bankers and buxincss men from the city, local trade maintaining a favorable volume and but few complaints are to be heard. Clearings of local banking institu- tions, which are an excellent barome- ter of conditions, bear out this statement. A new high record for the month was hung up during Aug- ust, total exchanges amounting to ,986,668 as compared with $81.- 618.388 for the corresponding month of last year. August's figures, how- ever, are approximately $13,000,000 in arrears of the amount reported for the previous month. August is perhaps the worse busi- ness month of the year locally, it was pointed out. , Clearings for the year to date are well in advance of the same eight months of last vear, and undoubtedly a new record for the vear will be es- tablished. For last Year total clear- ings approximated $1,200.000,000, while for the year to date they alreadx amount to approximately $770,000,000 Treasury Calls for Funds. ational banks of the country to- ay (incidentally the first time since July 10. last) are answering a call from Sccretary of the Treasury Mel- lon for funds. The response is in the form of a 20 per cent payment of the proceeds re maining with them arising from the March 15 sale of certificates of in- debtedness, maturing March 15, 1925 The amount due totals $13.296.100 leaving a balance of $53,184,500. Thes bear interest at the rate of 4 per cent The original loan was for $400,290 65,000 was in ex- is Bank Program Considered. Victor B. Deyber, president of the District Bankers' Association, re to Washington this mornir after a month’s vacation in the Ad rondac The “local. banking frate eagerly awaited Mr. Deybe returr: to léarn of the association's progran for the r. Mr. Deyber stated this morning he would hold a council administration meeting shor! for the purpose of checking up o what had been done by his lieuten- ants to date, after which the asso ciation would be called together and This report ma delivered until the regulariy schedued meeting next month, he in ity ha | dicated Local Stocks Firm. A firn tone prevailed on the Wash ington Stock Exchange this mornins in the week's initial trade. Washington Gas Light stock was strong at 301z on sales of 32 shares while, tional Mortgage & Invest- preferred sold to the extent of shares at District Paper sales column after a long period of inactivity, 20 sharecs selling at 20. Railway preferred was quiet at 4%, as was Capital Traction at 9214, Bond trading was well dive fied, though confined to utilities. Tractic s sold at 98, with Gas 6s of 1955 selling at 10 A small lot of the lat ter changed hands later in the pericd at 100 Railw brought 7 and Potomac F L, 981 WALL STREET HOLDS OPTIMISTIC VIEWS Qutlook Called Brighter Than for Some Time—Grain Now Strect got back holiday in an mind, * traders expeetinz that forcign and domestic trade re vival will be reflected short!y in ti securities market. Observers 100k for improved stability in Kuropei: and world trade when the Dawes plan becomes operative Business also is expected to be stimulated by the stari In the move- ment of grain. the eifect always having been noted as oon as tie farmers begin to receive tunds tor their crops. Observers consider that the outlook Is bLrisatsf than it has been for some time to busine optim atter 1 frame ot CALL MONEY MOVES UP HALF PER CENT First Advance Since June Not Ex- pected to Be Perma- . | nent. By the Associated Press. 38 W YORK. September The xchange rate on call menes ruled unchanged at 2 per cent since June 8, advanced io 235 per cent today, owing to: the heavy demand for funds forifirsc: of the month requirements. Wil a stiffening of money rates is heiu looked for this fall, due to the grow ing revival of trade, the present ad- vance is generally believed to be only a temporary one, as no indi tions of a money shortage have revealed in recent bank statemen - FOREIGN EXCHANGE. “*’/ (Quotations furnished by W. B, Hibbs & Co.) Nominal Sellin #old valu R which b & London. pound Voutrea1, doila Paris, franc. Copenhagen, Christiania, Stockholm, crown, 2661 By the Associated Press. NEW YORK, September 2.—¥Koreigh exchanges irregular. Quotations (in United_States dollars) : Great. Betin demand. 4485-16: cables, §4¢9-15" 60-day bills on banks, 4.45 9-16, France, demand, 5.40% ; ca SA41%. dtudy demand. 0442 044 Her" gium, demand, 05071 ; cables, Germany, demand (per tritlion Holland, .3859 : Norway, S nia, 00493 : Argentin: 1000; . Tokio, .41: Mon If the: law required everyhods to attend to his own business there wouldu't de oiuch ueed of olher jawe