Evening Star Newspaper, September 5, 1924, Page 28

{Topic Among Traders. ' More Activity in Oils. f BY STUART P. WEST. ecial Dispatel to The Star. NEW YORRK, September 5.—Wall Sfreet today t the depressing injfluence of th ing of the Amer- n Woolen dividend. Inasmuch a e announcement had not been made ufitil shortly before 2 o'clock Thurs- there had been no time for it become fully known. A lot of who had had no chance to the previous day, were anx- us to sell and these orders bunched the opening brought about an im- | ediate decline of near points e stock rallied subsequently for | time under short covering, but it was freely offered on the recovers and fell away ag: as the day went on Weakens Other Stocks. Once the decline got well under way the support was withdrawn from & number of the recent pool favorites, and attempts to sell this type of stock found a very poor market. In this category were Rubber first pre- ferred, which broke quite badly; In- dustrial Alcohol, which was off over 1§ points from the high of the Sum- mer, Coca Cola and Famous Players. Ip the two last named well as in Hubber preferred selling was. un. doubtedly influenced by the action of the Ame ol dividend Farning: have been picking cond half year for Famous Players will be, accord- ing to the b informati con- | siderably bLetter than the first half. But these two stocks are in the same | position 1 for a long time the margin over| diyidends has been slim ! § Oil Sharex More Active, The sudden up of the oil| shares out of a weak market seemed | tor call for some special explanation. | THere was - none, however, in any trade developments oil trade sifuation continues u actory in that despite the succession of price reductions output has not fallen off. But the technical position of the oils is: better than that in almost any other group. because the old short interest has not been disturbed and there has been Little part in'the advance of the Summer. way it'looked ioday was that stocks | like Marland, Phillips Petroleum, Pacific Oil, Pure Oil, Standard of California and Houston were being b up partly as an offset to the s4lling in other dirsctions and partly td create a more favorable condition fgr the distribution of unsold stock. i Day's Decline More Rapid. iThe decline set a more rapid pace| tlan it had on the days preceding. There was, however, nothing fresh to be: added by way of explanation to what has been sald since t the week. siéet for past experience haye failed to remember that a rising Mj#summer market s very seldom p%lom_’ed far into September. n former years where prices have riken in September it has practically aljyays been a sequel to depression in the months before. On nearly every oc- cagion where stocks have had a pro- n’gncpd advance in July and August thidre has been a reverse movement af- | tel’ Labor day. This appears as the most effective regson for the week’'s downward turn. Byt at the same time Wall Street hal awakened to the fact that it was not paying cnough attention to poli-| tigs, and that it had allowed itself to gex altogether too enthusiastic over the business outlook. The possibili- tids of the Maine election were one cohsideration, but a minor one. American Woolen's dividénd action and the sharp decline in the stock aghin today were chief topics of street gousip. According to unoffictal in- fotmation, American Woolen not onl. has failed to earn its common di: dend, but it will do well if it earns its 7 per cent requirements on the préferred stock. Last year the com- pajiy earned $8.84 a share on the common IMAREET CLOSES HEAVY. [ S Three to Five Point Declines at t Finish of Session. By the Associated Press. NEW YORK, September 5—Stock prices again proved vulnerable to bear attacks in today's more active session of the market. Bear traders picked out one weak spot after an- othier, causing sympathetic recessions in -other quarters. Oils and rails showed indication of independent, strength. Sales approximated 1,050,- 000 shares. The closing was heavy. Buying support was weakened again in the final hour, with the result that a number of popular industrials were forced down 3 to 5 points. Markets at a Glance —. NEW YORK.—Stocks heavy: oils 'develop good buying support bonds, steady; Denver & Rio Grande ! issues acti Foreign exchanges, Tower; sterling reactionary. Cotton, higher: trade buying. Sugar, irregu- lar. Coffee, easy; lower Brazilian markets. 3 CHICAGO.—Wheat, lower; northwest receipts. Corn, Predictions, better weather. . steady to high. Hogs, mang. large easier; Cattle, ‘eak; light de- FOREIGN EXCH. (Quotations furnished by W. Nominal : ~0id value. London, pound . Montreal. dollar . * Paris,; franc . Brussels, franc Berlin, 'mark Rome,” lira . NGE. B, Hibbe & Co.) Selling checks Budapest. crown 0001315, {Am Car & Fy | Am Chain A'(2). NEW YORK STOCK EXCHANGE Received by Privaft Wire Direct to The Star Office Adv Rum pf (3). Air Reduct (4) Ajax Rubber Alaska Juncau. . All Am Cab (6).. Allled Chem (4) ‘Allis-Chalm (4). Am Agricul Chm Am Ag Chm pf.. Am Beet Sug (4) Am Can (16}.... Am Can pf (7).. az Am Chicle Am Drug Am Express (8) . Am & F P 25%(7) AmFor P f pd (1) Am Hide & Lea. . Am Hide & L pf. Am Ice (7) Am Internatl. .. AmLaFFE (1). Am Linsecd pf. . m Locomo (6). Am Loco pt (7). Am Metal (2). .. Am Radiator (4) Am Saf R (50¢). Am Sm & Re (5). AmS & Rpf (7). Am Stl Fdys (3). Am Sugar Am Sugar pf (7 Am T & Tel (%), Am Tobae (12) Am Tob B (12) Am Tobpf (6).., Am Water W Am Wooien. Am Wool pr Am Zinc. .. Am Zine pt.. Anaconda . Asso Dry G Asso Oil (113) AtT &S Fe (5). Ati Birm & At. ALGUIf & W I. AtGulf & W I pf Atl Coast L (18). Atlantic R Atlan Ref pf (7). Bald Loco () ... Bal & Ohio (5).. Bal & Oh pf (4) Barnsdall A | Barnsdall B'eh Nut (2.40 Beth Steel... Beth Br Em Stl 2d pf Brk Edison (3). Brk-Man Tran. . {BrMan T pf (6). Brklyn Un G (4) Burns Br (10)... Burns Br B (2) Butte&Superior. Butterick Co Cal Packing (6). Cal Pet (1%) Cal Pet pf (7). Callahan Z Lead Calu & Ariz (2). Calumet & H 50¢ Can Pacific (10). Cent Lea Co pt CRRNJ (112) Cen Rib M (2). Cerro de Fasco( Certain-Td Prod Chand Mot (6).. Ches & Ohio (4). Ch & O pf (612). Chicago & Alton Chic & Alton pf. Chic & East 111 Chic Gt West Chic Gt West pf. Ch Mil & St Paul Ch Mil & St P pf. Chi & Nwn (4). Ch & Nwn pf (7) Ch Pncu T (5). Chi R I & Pac CRI&PDL(D. Chi Yellow C (4) ChStP Min & 0. Chile Cop (214). Chino Copper Cluett, Peab (5). Coca-Cola (7). Colo Fuel & Iron Colo Southern. ... Col So 1st pf (4). Col G & E (2.60 Com In Tr pf (7) Com Solv A (4) Com Solv B..... Congoleum (3). Conley Tin Foil. Consol Cigar. . Consol Gas (5). Consol Textile. . Cont Can (4).. Cont Mot (20c) Corn Prod (2). Cosden Co. . . Cosden pf (T) Crex Carpet.. Crucible Stl (4). Cub Am Suk (3). Cu Am su pf (7). Cuban Cane Sug. Cub Cane Su pf.. Cuyamel Fr (4). Dan Boone M(3) Davidson Chem. Del & Hud (9).. Del L& W (6).. Det Ed Co (8) Dome Mines (2). Doug-Pectin (1) DuPtdeN (8).. Du Ptde Ndb (6] Eastman (17%). Eaton AX (%.60). El Stor Bat (4) Emer Branting Erfe.... . Erie 18t pf. Erie 2d pf. Fairb’ks (2.60).. Famous Pl (8).. Famous Pl pf (8) FdM&Spf (D). Fifth Av B (64c) Fifth Ave ctfs Fisher Bdy (1 Fisk Rubber.. .. Fisk Rubber pf. Foundation (6). Foundation rts. Freeport-Texas. Gen Asphalt. .. Gen Asph pf (5 Gen Baking (6). Gen Cigar (8)... General Elec(8) Gen El spe (60c). Gen Mat (1.20)... Gen Mot pt n (7) Gen Petm (2) Goldwyn Pict Gold Dust. .. Goodrich pt (7). Goodrich. Goodyear p¢ G'dyear pr pf (8) Granby Consol. . Gt North pt (5).. Gr Nor Ore (3) ‘02003 ~00001425 1658 1376 Prague, crown . w mark en, crown Christiania,’ crown . Stockholm,” crown By the Associated Press. NEW YORK, September 5.—For- eign exchanges easy; quotations (in United States dollars): Great Brit- ain, demand, 4.44%; cables, 4.44%; 60-day bills on banks, 4.41%. France, demand, .0524%; cables, .0525. Italy, demand, .0435%: cables, .0436. Bel- gium, demand, .0496% ; cables, .0497%. Germany, demand (per trillion), .23% Holland, demand, .3824. Sweden, de- .2658: Denmark, = demand, Switzerland, demand, .1881. demand,- .1317. Greece, de- .0178%. Poland, demand. .0019%. Czechoslovakia, demand, .0299%. Jugoslavia, démand, .0132% Austria, demand, .000014%. Rumania. demand, .0052%. Argentina, demand. .3475. Brazil, demand, .0987. Tokio demand, .41%. Montreal, 1.00. KEEP UP HOLIDAYS. NEW YORK, September 5.—Mem- bers. of the New York Coffee and Sugar Exchange have decided to con- -mand, Gr Canan Cop. Gulf Mo & Nor Gulf StStl (5)... Hartnan Co (4). ‘Hayes Wh'l (3). Homestake (7)., Househ'd Pr (3). ‘Houston Ofl. Hud Mot C (3). Hupp Mot C (1. Ilinois Cent (7). 11l Cent pf (6). Indiahoma Ref.. Inland St1 (2%). Inspiration Cop. Interb Rap Tr... Internat Agri. Internat Ag new Internat Ag pf.. 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) IntT&T (6).-.. Invincible Oil. Jewel Te: Jewel Te: Open. High. 38% 78 Fleischman t3%. - 45% 84 12% 1% 1% tinge the Saturday holiday through- |} Jones Bros Tea...17% .out Beptember. = Jordan Mot (3). KCP&L 1st (7).. Kan City South. Kayser pf (8)... Keily Spr Tire.. Kenne Cop (3).. Kinney G R Co.. Kresge S8 (8)... Kresge Dep Str. Kresge D S pf (8) Laclede G pf (5). Leh Val (3%)... Lig & Myrs (3).. Lig & Myrs B (3) Lima Loco (4).... Loews Inc (2). Loft Incorpor. Loose-Wiles Bis. Lorrillard (3)... Louis & Nash (6) Melntyre (75¢).. Mack Trucks (6) Mack Trucks rts. Mack T 1st (7). Mackay Cos Macy R H Magma C Mallinson Manil El Co (8). Maracaibo Oil. .. Market SR 2d pf. Marland Oil. . Martin-Parry ( Mathieson Alka. Maxwell Mot A.. Maxwell Mot B. . May Dept St (5). Mex Seabd (2).. Mex Sea cfs (2). Miami Cop (2). . flddle StOil. ... Mis Kan & Tex.. Mis K & Tex pf.. Missouri Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Nash Mot (+10). cuit (3).. at Dairy (3)... t Dept Stores, DS 1st pf (). at En & St.. at Lead (8).... t Ry M 2d pf.. t Supply (3).. ev Cons Cop. ... N Or T&M 123%. N Y Air Br (4) N Y Central (7). NYC&StL (6). NYC&SLL pt (6). N Y Dock pf (5). NY NH & Hart.. N Y Ont & West. gara Falls P. orf & W (18) North Am (2.40). North Am pf (3). North Pac'(5)... Otis Elev (n) (4) Owens Bot (3).. Pacific Mall..... Pacific Oil (2).... Packard (1.20) Pan-Amer (4) Pan-Amer B (4). Park & Tilford. . Parish & B stpd. Penn Railrd (3) Penn Seab Steel. Penney JC pf (1) Peop Gas Ch (7). Peoria & East... Pere Marq (4) Pere Mar pf (5). Pere M pr pf (5). Phila Co (4) Phila& R&T... Phillips Pet (2). Phillips Pet rts. Pierce-Arrow. .. Picrce-Arrow pf Pierce Oil. Pierce Ol pt Pitts Coal (4)... Pitts Stl pt (7).. Pitts Ut pt (1.20) Pitts & West Va. P& W Vapt (6). Postum Cer (4). Press Steel Car. Prod & Refiners. PubSer NJ (4). Public Serv rts.. Pub S NJ pf (8). Puilman Co (8). Punta Al Su (5). Pure Oil (1%)... Ry Stl Spg (8) Ray Cons Cop. Reading (4). Reading rts. . Reis Rob pr (7). Remington Type Replogie Steel.. Rep Ir & Steel. .. Reyn'ds Spgs (1) Rey Tob B (3)... Rey Tob pt (7).. Roy Dtch (3.46). St Joseph Ld (2) St LSan Fran... St L-San Frpf.. St L Southwest. St LS'thpf (5).. Santa Cecilia Savage Armi schulte (8) Schulte pf (8) Seaboard Air L. Seab'd Air L pf... Sears-Roebk (6) Seneca Copper.. Shattuck-Ariz. . Shell Un Ol (1). Shell Un pf (6).. Stmmons Co (1). Stmms Pet...... Sinelair Oll. Skelly Oil.... Sloss-Sheff (6) .. So P Rico 8u (6): South Pac (6)... Southern Ry (5) South Ry pf (5). Spicer M pf (8). Std Gas & El (3). StO1l Cal (2). StOINJ ). StOiINJIpt (D). Std P1 Gl (75¢).. Sterling Pr (4).. Stew’t Warn (6). Stromberg C (8). Studebaker (4). Submarine Boat. Superior Oil.... Tenn C & 8h.. Texas Co (3).... Tex Gulf (16%). Texas & Pacific. Tex & PacC&O. Tide Wat Ol1 (4). ‘Timken (13%).. Tob Prod (6). Tob Prod A (7). Transcont Oil... Underwood (3) Un Bag Pa (6).. Unlon Oil. 5 Un Pacific (10). Un Tank Car (5) Utd Cigar Stores United Drug (6) Utd Fruit (10).. Utd Ry Invest... Utd Ry Invest.pf U 8 CastlIronP. U S Distributing U S Hoft Mach. . U S Ind Alcohol. SR&Im (8).. u U 8 Rubber..... iU SR1stpf U S Smelting. U SSteel (16)... U S Steel pf (1) Universal Pipe.. Univer P pf (7). Utah Copper (4). Utah Securities. Vanadium Corp. Va-Caro Chem. . Va Ir C&C pt (5) Va Ry & Power. Vulc Det pf (7). Wabish. ... ... Wabash pf A. Wald Sys (1%) Web & Hellb(1). Wells Far (2%4). ‘West Pen pt (7). West Maryland.. Open. 31 97 20% 80 16% 4T 74 425 61% 974 76 53% 62% 621 60 17% 110 128% 55 22% 121 13 60% 20% 62 38 12 4Th 14% 76 120% 2% 29 27% 58% 42% 68 2% 60% 9% 110% 14% 2% 104% 1% % 16% 96 25 13% 17% 18% 8 2% 93% 66% 4% 86% 85% 56% 34% 118% 29% 61 86 67% 39% 8% 4% 8% 39% 7% 35% 8% 122 85 64% 2% % 37 41% k) 140% 118 52% 84% 214, 17 105% 2% 20% 70% 196 35% 88 32% 107% 121% 17 58% 8 82 26% 1% 3 6874 64 16% 424 14% 16% 41% High. 81 97 20% 80 16% aT% 74 25 52% 98% 76 B4% 62% 62% 60% 1% €% 65% 39% 984 13% 62 102 59% 454 29% 571 16% 110 128% 55% 23% 121 13 61 204 62 38 12 % 14% 6 120% “@x 29 28% 58% 2% 68 2% €01 100% 110% 1% 27% 104% 2 % 16% 96 2 18% 18 18% 3 72% 94% 66% 4% 863 5% 5% 42% 1% . J11% HIGH-GRADE RAILS IN BRISK DEMAND $26,000,000 Canadian Bond Issue Sold Before Noon. Money Firmer. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK. September 5.—The feature of today's bond market was the demand for high-grade ralls of the savings bank class. Such bonds as Atchison general 4s, L. and N. unified 4s, Chicago Burlington and Quincy 4s, Norfolk and Western con- solidated 4s and Baltimore and Ohio first 4s were bought both on the ex- change and over the counter on a 42 to per cent basis. Financial institutions were the principal pur- chasers. For this sudden development of in- terest in these high-grade bonds there Wwas no explanation in the money situation. In fact time funds were firmer toda: fact which ordinarily would operate s quotations for gilt edg The demand nevertheless pers Canadian Bonds on Sale. In connection with the inquiry for hizh-grade, low vielding Londs there was much comment on the market- ing of $26,000,000 Canadian National Rallway 30-year 4%s on a 4.75 per cent basis. " These bonds are guar- anteed. principal and interest, by in- dorsement by the Dominion of Can- ada, and in th respect are compara- ble to Canadian Northern 7s and 6135 and to Grand Trunk 6s and 7s. The four last named are listed on the exchange, however, and sell to vield around 5.2, per cent, or approxi- mately a half per cent higher than the new offering. Among speculative bonds there was pronounced heaviness in Third Ave- nue adjustments perhaps explanable by concern over bus competition. In industrials copper and sugar issues were steady. Wilson & Co., first 6s were a litue higher, but Virginia- Carolina Chemical bonds went lower. Foreign Group Holds Firm. The features of the speculative rails was again I. G. W. adjustments, which made a new high on the move. Tardy recognition of the continued earnings was the accepted explanation. St. Louis-San Francisco issues were firm, particularly the junior bonds. Foreign bonds held generally firm. The new Belgian 6lis were strons| around the high of vesterday. Belgian 7l%s and 8s, however, failed to im- prove. French obligations were held down by doubts about the French financial position. Denver Bonds in Demand. By the Associated Prese. NEW YORK, September 5.—Brigk activity in_Denver and Rio Grands Western obligations, which responded to the court decision upholding the re- organization plans, featured today's early bond dealings. Gains ranging from 1 to 2% points were recorded by the road's issues. Other railroad liens also displayed a firm tone, but trading was dull in the foreign and United States Government issues, industrial and public utility groups. Substantial advances were scored by Union Pacific 5s, “Katy” 4s B, Northern Pacific 4s, Canadian Northern 7s and International Great Northern Adjustment The $26,000.000 Canadian National Railway bond issue, offered today, was sold be- fore noon. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) — -Noog.— Rk, : Bid. Ofter. uminum Co. of A o 3 Aluminum Co. of Amer, io0s 10 Americas Sugar aw 157 0% American Tor & Fel: 1% Canadian Northern 5i4s 1924 Central of Georgia 6s 192 hs 1920 Du Pont Tixs 1931 o ederal Sugar Ref. 6s 1333 sher Hody Corp. 6s 1927 Fisker Body Corp. 6s 19: Goodyear T. & K. 8« 1931 Northern 7& 1936... 1 Y (Augu: Swift & Co. 5s 1982 Tidewater Of 813s 1931 ion Tank Car s 1030 5. Rubber 73 estern Union_ 6%s_1938. Westinghouse E. & M. 78 Wheeling Steel 6s 1936, ‘WOOLWORTH SALES UP. NEW YORK, September 5.—August sales of F. W. Woolworth Company jumped to $16,927,324, compared with $14,964,716 in August, 1923, and in the elght months of 1924 reach $124,170,- 209, an increase of $13,501,594 over the corresponding period last year. e POTATOES STRONGER. CHICAGO, September b5.—Potatoes stronger; receipts 36 cars: total United States shipments, 721. Min- nesota sacked, early Ohio's, 1.15a1.20; bulk, 1.05a1.10; Minnesota sacked round white, 1.50; Idaho, sacked rurals, 2.00; Utah sacked cobblers, 2.00; Kansas and Missouri sacked Irish cobblers, 1.35a1.50; few fancy, 1.65. MILLS TO KEEP RUNNING. LYNCHBURG, Va.,, September 5 (Special).—Plans for the reorganiza- tion of the Consolidated Textile Cor- poration, which owns the large tex- tile plant here, will in no way affect the future operation of the Lynch- burg branch, according to a state- ment made by Willis E. Johnson, general manager of the Lynchburg branch. If any changes are to be made here in the future Mr. Johnson has no such information, TOURIST TRAVEL POOE BOSTON, September 5 (Special).— Hotel men and passenger agents of New England roads report that the Summer resort seéason has been be- low the average. Automobile camp- ers, pligrimages to Quebec and the heavy movement of tourists to Eu- rope are held largely responsible. —_— Western Pacific. 22 22 West Pac Df (6). 69% 69% West UnTI (7)..118 113 ‘West Alr Br (6). 93% 93% WestE&M (4). 63 63y Whl & L Erie, 12 12 Wheel ELEpL. 204 20% WhEag Ol (2). 28% 23% 23% White Mot (4) 63 it ;u 1 % 5! Wil & Co pt. 17 11" Willys-Overl'd. . 8% 8% Willys-Ovd pt. .. 691 68% Woolw'th n (3).. 110% 111 107 Worthing P'mp. 30 30 29% W'thPpfB(6). 63 68 68 wright Aer (1). 12w 126 12w 125 Wrig W Jr(3).. 41% 41% 41% 41% Yellow Cab (5).. 51% 51% 50 61 {tPartly extra. $Payabis hxlund stock. Dividend rates ‘as given in above table e otirmias Sotet | atre hvidendsare wet incindet. T 21% 21% 69% 112% 92% 62% 11% 20% —_—— I N NEW YORK BONDS STOCK EXCHANGE I Received by Private Wire Direct to The Star Office. (Bales are ia §1,000.) UNITED STATES BONDS. thirty - seconds. (Fractions Example: Lib3%s...... Lb1s-2d 4%s. Lib 1at 4%s... Lib 24 4% Lib3d ¢is. .. Lib 4th 4% US4%s 1952, represent 98-3 means 98 3-32.) Sales. High. 12 100-29 100-26 10029 2 101-12 101-12 10112 19 101-29 101-27 101-28 101-1 101-3 102-2 242 101-3 162 102-4 10: 176 102-2 101-31 102 316 105 Low. Close. 104-29 10431 FOREIGN. Argentine 5 Argentine Argentine Austria 7 Belgium 6s. Belgium 6%s w .. 194 Belgium 7% S Belgium 8s, Berne 8: Bolivia 1 28 4 40 . 19 Brazil T%s Brazil 8s Canada 6s1931.... Canada 65 1952.. . Canada 5%s 1929 Chile 75 1943 Chile 8s 1941 Copenhagen 5%, Cuba 538 Czecho 8s 195 ©zecho 8s 195 cf Denmark fs. Denmark £s Dutch E15% DEI15%sct Dutch East I 65 Dutch East I 6562 FEl Salvador 8s 48, Framerican 7%s. French Govt 7% French Govt 8 Haiti 6s. . .. Hungary 6%s Japanese 4s. Japanese £%s. Jergens UM 6 Lyons 6s Warsellla 6s. Mexico 45 °04 asntd. Mexico 5s assented Montevideo 7s. 9 90 10 Netheriands 6s'54.10% Notherlands 6s'72.105 Norway s 1943.... Norway 6s 1944 Norway 6s 1952 Norway 8s... Orient Dev deb 6s. Paris-Ly’s-Med 63. Prague 7% . . Queensland 6s. Queensland 7s. ... Rio de Jan 85 1946. Rio de Jan 8s 194’ Rio Gr Do Sul 8s.. Sao Paulo City 8s.. Sao Paulo State 8s. Seine Dept. of Ts. . Serbs Crotes Slo §s Soissons 6s...... Sweden 6s Swiss 53%s 1946 Swiss Confed 8s. Tokio5s.... Ud Kingm 5%s 29, Ud Kingm 5%s'37. Ud Steam Copen €s Uruguay 8s. “es Zurich §s. ceees 26 .73 High, 8lls 814 93% 93 103 102% 96% 95 100% 100% 5 94% 109% 109 107%, 107% 1094 109% 93% 9314 88% B8W Rl% Bl% 101 101 96% 96% 103% 102% 102% 102% 103% 9% 106 94% 963, 99% 29% 100% 110% 90 90 95% 95% 104 95 1014 105% 90% BEY ) 19% 334 90 99% 96% 98y 98 9874 112% 884 81% 907 103% 103 109% 109% 95 94% 93% 93% 99 97% 9T 97% 100% 100% 944 94 £9% 89 87 87 106% 105% 98% 98 115% 115% 65% 65% 110 109% 1047 104% 9276 91t 106 106 112% 112% 8% 901 MISCELLANEOUS. Ajax Rubber 8s. Am Agr Chem 6s. Am AgrChem 7%s Am SmIt&R 1st bs. AmSmit & R 6s. AmSugref6s..... AmT& Tcltrds Am T&T cl tr5s. AmT & Tdeb5% Am Water Wks 6s. Am Writ Paper 6s. Anaconda 1st 6s. Anaconda cv db 7s. Armour & Co 4%s. Armour of Del 5% Bell Tel Pa6s.. Beth Steel rf 55 Beth Steel pm b: Beth Steel 5%s°53. Beth Steel 5 f 63 Brier H St 1st 5%s. Bklyn Ed gen 5s... Bklyn Edison 7s D. Bush T Bldg 5s '60. Calif Pete 6%s. . Central Leather §s. Chile Copper 6: CinG & E5%s'62. ColGas & El15s.... Col Gas & El 5s sta Commonwth P 6s Con Coal Md 1st 5s. Consumers Pow 5s. Cuba Cane cv d 8s. Cuban-Am Sug 8s. Det Edison ref 6s. Du Pontde N Dugquesne Light 6s Est Cuba Sug T%s. Empire G&F 7%3.. Fisk Rubber 8s Francis Sug 7%s Goodrich 6%8. . ... Goodyear 8s 1931 Hershey 6s 1942, Humbi: O&R 5%s. Tllinois Bell 1st 5s. Tlinols Steel 4%s.. Int Mer Marine 6s. Inter Paper 58°47.. KCP&LtSsA'S2 Kan G & El 68°52... Keyser (J) 78..... Kelly-Spring 8s. Lackawa S s '50 Liggett & Myrs 7 Magma Cop cv 78 Mexican Petrol 8s. Midvale Steel 5s ct Montana Power 8. Nat Tube 15t 5s.... New Eng Tel 63 N Y Eden 1st 6%8.. NYG EL H&P 6s. . N Y Tel 4%s. N Y Tel 68'41. N Y Tel 6849 North Am Ed 68 North Am Ed 6%s. Nor Ohio T&L 6: Nor States Pow 5s. Nor States Pow 6s. Northwst B Tel 7s. Otis Steel 7%8.. Otis Steel 85. Pacific Gas & El 63 Pac T & T 18t Pacific T & T bs '62 People's Gas 5s Phila Co 5%s’38. Phila. Co ref 68 A Phi! & RAg C&I 5 Pierce-Arrow 8s. Plerce Oil deb 8s. Public Service 58 Pub Serv Elec 68 Sharon Stl H 83 Sinclair Oil 6% Sinclair Ol 7. Sin Crude Oil 5% Sin Crude Oil 6s. Sin Pipe Line 5s. South Bell Tel 5s. So Por Rico Sug 7s. Southwest Bell s. Steel & Tube 75. ... Sug EstOrient 7s.. n Elec Pow 6 Totedo Bdn 1st 7 Union Bag & P & Unit Drug cv 8 USRub lstrf U S Rubber 7 U S Smelter 6 U Sstecl 815 : -Car Chem VaGarCh1hss W ‘Warner Sug 78 '39. Warner Sug 78 '41. Western Elec 5s. .. West'n Union 6%s. Westinghouse 72 ckwire Spen T Willys-Ov 6%8 3! ‘wilson & Co 1st Wilson & Co cv 63 Winchester A 7%s. Youngetn S & T 6s. - 3 11 27 15 2 48 37 17 24 17 1 4 47 8 23 5 127 6 1 4 - - - com @ PP - - T TN NP S I P P P = P = =T P =Tk @ = FOL- = 22 3 2 13 9% 91% 98% 98 93% 93 94 ‘a3% 1034 103 100% 100% 97% 101% 1024 e Low. Close. 88 93 104 109 89 94 23 98% 1% 94% 93% 102% 98% 86 101% 1043% 101% 102 864 927% 100 100 84y 964% 103 963 105% 9% 974y 1084 94 115% 83% 103 101% 104% 64 324 90% 102 LIt 1104 108% 2% 7% 874% 48 101% 5% The most damaging thing said on the | about the bobbed hair fashion seenrs to be contained in a New York World article which proves that the style is antiquated, RAILROADS . High. Law. 8yl 89% 100 87% & 89 & 8474 & B veee 13 102% & O rf imp 6s. 100% B & O SW div 3%s. 99% Bklyn-Manhat 6s. 79 Buff R & Pitt 4%s. 874 Canad North 6%s. 115% Canada North 7s 116% Canad Pac deb Bo% Car Clinch & O 5i 99% Car Clinch & O 6; 104 Cent of Ga 5%s. 98 Central Pacific 4s. 87% Ches & O cv 434s. . 95'% Ches & Ohio cv bs. Chi & Alton 31s Chl B&Q gn 4858, Chi B&Q 1st rf 5s. C B & Q-Ill div 4 Chi& E 11l gnbs. .. Chi Great West 4s. CM& Puget Sd4s. 5 ChiM & St P 45 '25.190 Chi M&SLP 45°34.. 1 CM&StPdb4s... 10 Chi M&St P cv 4148 51 Chi M&SUP rf 414s. 36 ChiM & - a2 Close. 9% 89% 99% Atchison gen 4 Atlantic C L 1af B&Oprin3ds. B & Ogold 4s. Chi Rys 5s.... ChiRTI& P gn ChiRI& P rt4s Chi Un 5ta 4%s Chl Union Sta 63 Chi Un Sta 63s. Chi& W Ind cn 4. Chi & W Ind 7% CCC & St L bs. Cleve Term §s. Cleve Term 513 Colo & Sou 4%s. Dol & Ha 1st rf 4s. Den & Rio G en 4 D & Rio G imp 5s. . D& RG 18t rf bs. Det United 4%; 5, Erie 1st con 4. Ericgends..... Erie conv 4s A .. Erte conv 4s B. Erieconv 4s D. Erie Genessee R Gr Trunk ef db 6s. Grand Trunk 7s... Great North 5s. ... Gr North gen 5%s. Gr North gen 7s. Hud & Man ref 5s. Hud & Man aj 53 111 Central ref 4 11l Cent ref 55 '35. . 11l Central 53%s. int Rap Tran b5s. .. Int Rap Tr 6s stpd. Int Rap Tran 6s. . . Int Rap Tran Int & G Nor 1st 6s. Int & G Nor aj 6s.. Iowa Cent rf 4s. Iowa Cent 1st 5s. . Kan City FtS 4s Kansas City S 3s. . Kansas City S5 Kan City Term 4 Lake Shore 45 '28. . Lake Shore 4s 31. Long Island rf 4s.. Louis & N uni 4s . Louis & N5sB.... Manhat Iy cn 4s. . Market St R 3 M StP & SSM 614s. MK&TIst4s.... MK&T4sB MK & Tadj5s. ... MK&TprindsA. MK&T6sC...... Mo Pacific gn 4s. Mo Pacific 55 ' Mo Pacific 6s. . Montrl Tm 1st 5s. . Nassau E Ry s NewOr Terim 4s... N'Y Centgen 3%s. N Y Cent deb 4s... NYCentriss N YCent deb 6s.... NYCenlLScl3ys. NYC&StLab4s. NYChi&SL5%s. NYC&StLGsA.. New Haven d 4s '57 New Havencd 6s.. New Haven 7s..... New Haven 7s fr Y Ont & W ref 48 ‘ew York Ry rf 4s N Y Ryrf4sctfs.. ew York Ry aj 5s Y Rysadj dsct.. Y W & Bos 4138, 50 orfolk & W cn 4s. 55 orfoik & W cv 63.131 orthern Pac 3s. orthern Pac 4s... or Pac 4165 2047, urthern Fac os D. 62 Northern Pacriés 15 Ore Short L ret 4s. 12 Ore-Wash 1strf4s 3 Pennsyl con 4%%s.. 10 Pennsyl gen 4%s.. 45 Pennsyl gen 5s. ... Pennsyl 6%8 Pennsyl gold 7s. .. Pere Mrq 1st 45 '56. Pere Marq 1t 5s... . Reading gen 4s. Reading gn 4145 9215 Rio G West cl 4s 69% RIATk & L 4%s. s 80 StLIM&S43'29... 91% St LIM&S R&G 4s. 8234 StL&SFpldsA. 69% StL&SFprinb £ StL& SF5%sD.. % 93 StL&SF adj 6s 804 StLe& SF inc 6s 734 StL&SFpl6sC. 102% StLSW 1stds.... 814 St LS W con 4s°32. £54% StP & KCShL 4%5. 2 78% SanA & Arn P i 78 Seab'd ALdssta.. 4 71 Seabd ALref4s.. 1 854 Seab'd A Ladj 6s.. 27 61% Seab'd A L con 6s.. 34 81% Sou Pacific 4s°29.. 22 97% 97y Sou Pacific ctl 4s.. 25 84 Sou Pacific ref 4s.. 72 8% Southern Ry gn 4s. 49 4% Southern Ry 1stbs & 100 Southern Ry 6sct. 14, 102 Southern Ry 6%s. . 15 106% Term Asso St L 48«12 8315 Third Ave ref 4s... 19 56% Third Ave adj 6s... 48 49% TolSt L& W 3%s.. 5 991 Union Pac 1st rf 45 20 B5% Union Pac 4s°27... 26 99 Union Pac 1st rf 58 103% Union Pacific cv 6. 104% Virginia Ry st 5s . 5 Va Ry & P 1st 5s. 94 Wabash 1st 58 100% Western Md 4s. 6434 Western Pacific 5 91% Wheel & L E cn 4s. 70t Whel & LE rf %3 65 Wikes-B&E 1st 5: 634 Wisconsia Cent 4 s1% TREASURY CERTIFICATES, (Quotations furnished by Redmond & Co.) 6% 93% 435 December 1 48’ March 1 4% Maren 435 December 1 D101 101% 4% March 15, S 102516 101 516 10202 RN Rk st & CALL MONEY STEADY. NEW . YORK, September 5.—Call money steady; high, 2%: ing rate, 21%; closing "bid, 2; offered at 23 ; last loan, 2; call loans against Mcceptances, 2. Time loans firm; mixed collateral; 60-90 days, 2%a3; 4-6 months, 33%; prime commercial paper, 3%a3%. et RATES ON BAR SIL LONDON, ‘September 5.—Bar _silver, 347-16d per ounce. Money, 2% per cent. Discount rates—Short bills, 3%a 311-16; three-month bills, 313-16a37% per cent, | unchange | €1, 3,00a3, low, 2; rul-} FINANCIAL, COTTON PRICES HANG ONGOVERNMENT NEWS Forecast, Due Monday, Keeps Traders’ Interest and Holds Down Buying. By the Associated Press. NEW YORK, September G5.—The cotton market opened steady at un- changed prices to an advance of 4 points in sympathy with Liverpool cables and sold about 13 to 17 points net higher in today's early trading. Considerable covering and some trade buying marked the advance to 24.57 for October and 24.24 for December, the former being promoted by in- creasing uncertainty of the probable showing of Monday's crop report. Two private crop reports were fs- sued. One estimated the condition at 61.2 and the indicated yield at 12,900,000 bales. The other, based on estimates by more than 200 cotton merchants in the South, showed a ospective vield of 12,315,000 bales. Cotton futures closed steady. Jannary March Muy Openi January, New Orleans Prices Stiffen. NEW ORL September 5.— The cotton market opened ste~dy and practically unchanged. Liverpool was about as due. Prices stiffened somewhat right after the opening call, October trading up to 23.78, De- cember to 23.91 and January to 23.91, or 13 to 15 points above vesterday's close. The market was supported on the growing belief that the forth- coming Government report will show a smaller indicated yield than the August 16 forecast. Fall River sales for the week were estimated at only 15,000 pieces, the smallest total since the middle of May. Cotton futures closed steady at net advance of 4 10 6 points, October December January Mareh May Opening January, bid. .93 bid; May, 23.93 —_—— CHICAGO LIVE STOCK MARKET CHICAGO, September 5 (United Department of Agriculture).— ipts, 30,000 head; largely lower than Thursday's killing pigs and light lights top. 10.00; bulk desirable 160 to pound _averages, 9.60a 10.00; better 140 to 150 pound weight 1 majority pacKing bulk good and strongweight slaughter pigs. average choice ipts. 6,000 head; tat yearlings fairly active, ¥ ull interests : fully steady with week's sharp up- turn; bu 9 0.7 top matured steers, 11.15; handyweight, 11.00; no strictly choice kind here; fat she stock uneven; lower grades, 5 low- er; week’'s advance on this class erased: bulk grass heifers, 5.50a7.00; bulk gr: cows a5.25; other classes steady; S stern bologna bulls, averaging around 1,100 pounds, at 4.00; other Western bulls, upward to 4.20 and better: w hty fat kind, 1.65a4.9 vealers, largely 12.50a 12.00 oice kind to packers, upward to1 ; stockers and feeders scarce; trade s t week's 25 to 30 up- wirn. killers taking practicaily Avervthing in steer line showing de- cent kil Sheep—Receipts, 19,000 head; early cales fat lambs, strong to 5 higher: orting light; e: buik desirable natives, 13.50al few to city butcher: 14.10a14 sood to choice range lambs, best held above 14.00; odd lots fat ewes, H 'King steaay on feeding lambs; no early sates. S GRAIN AND PROVISIONS. BALTIMORE, Md., September 5 (Spe- cial).—Potatoes—New, barrel, 1.00a ; bushel, 40as5; sweets and yams, el, 2.00a5.50; beans, bushel, 1 100, 3.00a4 00: cabbage, 100, 3.00a4.00; bunch, 25a cucumber: plant, bas ; lima beans, bush- : lettuce, crate, 1.50a2.00; peppers, basket, 23a35: peas, bushel, 1.50a1.75; E ch, basket, 90a1.00; , basket, 30a40; tomatoes, bas- packing stock, bushel, 1.00a1.10. Apples—Barrel, 2.00a1.30; bushel, 1.00a1.75; damsons, pound, 21:a3ls; ckberries, quart, 10a12; huckleber- quart, 12a aches, basket, bushel, melons, 2 red Winter, spot, 2 red Winter, garlicky, No. 3 red Winter, garlicky, . 2 red Winter, at 1.28%: No. 3, 25; No. 4 . 1.17 per bushel. Corn—Cob, old yellow, 6.50 per bar- rel; old white, 6.35 per barrel; No. 2 corn. spot, no quotations; No. 3, no ons; track corn, yellow, No. 2, 0. 2 mew, 57; No. 3, 56 per Nearby, 95a1.05; No. 2, rye spot. Hay—Receipts, 68 tons. The qual- ity and condition of new hay show improvement. Some hay grading at high as No. 2 timothy, which brings top prices, 16.00 to 20.00 per ton. In comparison with the demand, how- ever, present receipts are more than ample for trade wants. Low-grade and damaged hay is hard to move at any price. Straw—No. 1 wheat, new, 12.00a 13.00; No. 1 oat, new, 13.00a14.00. — CHICAGO GRAIN PRICES. CHICAGO, September 5.—Wheat prices broke sharply during the early trading today after displaying an upward tendency at the sgtart. An advance in Liverpool quotations and reports of continued drought inethe Argentine were chiefly responsible for the initial upturn here. Trade was very light, and when commission houses, which were on the buying side yesterday. jumped over and led in free selling, the market reacted, with fluctuations verv rapid. Initial | quotations, which were unchanged to half cent higher, with September 1.24% to 1.24% and December 1.29 to 129%, were quickly followed by a decline all around. Corn found support lacking at the start, and early firmness was soon wiped away. Buying on resting or- ders checked the decline. Starting unchanged to % higher, December 1.13% to L14, the market later fell to below yesterday’s finish. Oats showed independent strength, with a good class of buying. Open- ing at % to % gain, December 52% to 52%, the market held near to the initial range. Provisions were dull and weak. WHEAT— Close. September December September December May ... ATs September December May ... Septomber tember ' Ockober 3.45 November smsee 13 JOINT STOCK BANK PLANS NEW ISSUE Potomac Directors Fix Sum at $500,000—Local Mar- ket Spotty. A BY CHAS. P. SHAEFFER. irectors of the Potomac Joint Stoclc Land Bank at a special meeting yes- terday authorized an additional bond lssue h«;;fix’.go.ooo. dated October 1, The bonded indebtedness of the in- stitution is already $2,000,000, dise \ibuted in four issues. This amount, to¥over, has been found insuflicient {2 e the réquirements of the Sgricultural sections of Virginia and Maryland which it serves, and it was indicated this morning the new flot tion would b, ed the 5 in the ld be offered the public with- The following o attending the meet) Charlottesville, 2 Hilllard, Haggrosons o T Hopkins, Port Deposit, Md.: George G. Grattan, Jr, Harrisonburs. Ve Shirley Carter,” Winchester, Va.: It Laurie Mitchell, La Plata, Md Bedinger, Boydton, Va. 'A. Mitcheli Palmer, general counsel of the bank. came from Stroudsbury ety 8, Pa,, to attend New Car-Loading Reeord. i Dew 1924 high record for load- NES of revenue freight was estab. lished In the week ended August 23, Jwith 982248 cars, an increase of 29,360 over the week before, when the previous high mark for t reached, the American Railway 2 clation * reports. All commoditic showed increases over the preceding week except ore and forest producte, “0al and miscellaneous freight show - ed the largest gains. The total for ;l:o“v:upk. however, was a decrease of $i367 ars under ‘the same week of - Roads Seek Bond Issues. _The Chicago, Rock Island a- clfic Rallway Company today ashed authority of the Interstate Commerce Commission to issue $3,760,000 of 5 Per cent equipment trust certificates, to be s0ld at 95 per cent of par. The proceeds are to be used in purchasing railroad equipmnet, The Winston-Salem Terminal Com- pany made application for authorit to issue $800,000 of first mortgage per cent gold bonds and $3.000 of capit, stock with which to construct a union passenger station and to pur- chase land in Winston-Salem. -of-town directors ng: Shumate. B. & O. $75,000.000 Issue Allowed. The Baltimore and Ohio Railroad received authority to issue $75.000,000 r bonds, with interest at the increased rate of 5 pe to be sold at not less than per cent of par, the proceeds to be used in the retirement of the road's prior lien bonds. Authority was also granted the road to issue interim certificates calling for delivery of not over $75,000,000 of first-mortgage bonds and to pledge under the road's first mortgage not over $75,000.000 of prior lien bonds and to pledge temporarily with t depositary of the agreement for i terim certiificates not over $75,000,000 of first-mortgage bonds and $75,000,- 000 of prior lien bonds. Keeps Up Branch Bank Fight. Francis M. Savage is unrelenting in his fight against branch banking, as the following excerpt from the Paris Herald, received this morning, show: “Convinced more than ever after a tour of Europe that branch banks cause a concentration and control of capital which inevitably retards the £rowth of towns and decreases the chances of young men to get on, President Francis M. Savage, of the Northwest Savings Bank, Washing- ton, D. C. is returning to America from Genoa on September 3, to carry on the fight against branch banking. Mr. and Mrs. Savage are now at the Grand Hotel Astoria, Aix-les-Bains, Mr. Savage is sailing in time to be present at the meeting of the Ameri- can Bankers' Association in Chicago, to continue his fight against branch banking, which question, he belie should be developed as a polit issue.” Trading on Local Exchange. iled on Stock Lxchange to- ay. ational Bank was stronger at as was Railway co mon at 77 and 77%. National Mort- gage and Investment preferred held firm at 9%, but Gas off to 50. Capital Traction was weak at 913 and 91%. —_ EARNS $7.50 PER SHARE. NEW YORK, September 5.—Gross earnings of about $16,000,000 and net earnings of approximately $1,600,000 are reported by the Midland Steel Products Company for the vear ended vy 31. Balance after preferred dividends was equal to $7.5" a4 share on the common stock. The company was organized early last year in connection with consolidation of the Detroit_Pressed Company and the Warish-Bingham Corporation. Cur- rent assets were placed at $ and current liabilities at $1,1 DAIRY PRODUCTS. BALTIMORE, September 3 poultry—Spring s, 18a26 roosters, 14a geons, pair, 20: 60a80. Eggs—Native and nearby firsts, dozen, offered at 37, bid 36. Receipts, 640 cases. Butter—Creamery, good to fanc: pound, 37a39%; prints, nearby creamery 35a37. packed, 27; process butter, 34a35. BN NS BOSTON STOCK MARKET. BOSTON, September 5.—Following is a list of today's highest, lowest and closing prices for the most ac- tive stocks dealt in here: Guinea fowl, each, Am Tel & Tel Am Wool Arizona Com "1l Boston & Maine Calu & Hec clifr .. Connor, ' J Copper Range Butte . Fdison Elec Hardy Coal . nd Creek e Royale Libby, McNeil & Libby.. Mass . Mass a2 ew Dominion 014 Dominion Orpheum Circuit . Pacific Mills Quiney Superior & Boston. Swift & Co. Swift Tnterna [ United * Fruit nited Shoe United Shoe Mact pfd U S Smelt.. U S Smelt pfd Utah Metal Ventura Oil Waldorf