Evening Star Newspaper, September 15, 1924, Page 26

* n &6 LOW-PRICED RAILS MARKET LEADERS Rubbers Do Better—Ad- vance in Stewart-Warner. Trading Light. BY STUUART P. WEST. h to The Star. | September 15.—Low | priced railway shares came in for more attention in the market today | because of the revival of rumors re- garding possible and probable con- solidations. At Intervals the story is current that Southern Pacific will take over the Rock Island, and Wall} street genuinely believes that this| will come true. The rise in Rock Island common today on a recrude- scene of the same story was onme of | the features of the market. In other low and medium priced rails there was considerable activ-! ity for a time, evidently sympathetic! with the move in Rock Island. But| there was no especial push behind any of these moves. aboard Afr Line shares were bid up, there was a bit_of a_ stir in the Wabash nd in New Haven. St Louis Southwestern issues were strong. The preferred, which is earn- ing its dividend more than two times over, was up over a point and a half. The common stock, around 42 and | showing above 5 per cent, is regarded | as one of the dividend prospects of the next year or so. ) Paul Stocks Improve. Wity he lower priced rails improv- FINANCIAL. THE EVENING STAR, WASHINGTON, D. C. MONDAY, SEPTEMBER 15, 1924. FINANCIAL. nEw vork stock Excrance | |SEABOARD BONDS | xvev vore BONDS stooxmsamaver] | LOTTON BREAKS Received by Private Wire Direct to The Star Office. ' Received by Private Wire Direct to The Star Office Open. High. Air Reduct (15). jAjax Rubber. Allied Chem (4). Allied Chm pf (7) Allis-Chalm (4). Am Agricul Chm Am Ag Chm pf.. Am Beet Sug (4) Am Can (16).... Am Can pf (D)., Am Car & Fy(1 Am Chain A'(2). Am Chicle| E Am Drug Synd.. Am & F P 25%(7, AmFor P £ pd(7) AmIce (D)...... Am Internatl. .. Am Locomo (6). Am Metal (3)... Am Saf R (50c) Am Ship & Com. Am Sm & Re (5). Am Snuff pf (6). Stl Fdys (3). gar. Arm Sugar pf . AmT & Tel (9). Am Tobac (12).. Am Tob B (12).. Am Typ Fdrs(7). Am Water Wks. Am Woolen Anaconda Asso Dry G (5).. Ass0 Oil (115) AtT&S Fe (6). ATE&SFpf (5). Atl Birm & At Atl Coast L (18). AtGulf & WI... Atlantic Refin. . Auto Knitter.... Bald Loco (7) Bald Loc pf (7) Bal & Ohio (5). Barns, B'ch Nut (2.40) . ingr ‘The pressure was lifted from &p of the dividen; orthern Pacific and Gre payers like t Northern preferred in wh there had been | conside last week. St | » inclined to do | er, representing | vering-in of short | which a profit still re- | in mained The $15.000.000 issue of Columb preferred stock | as and Electric bull market on | because it will quirements of the company for some time to come and will open the way for the grc ing surplus e s to be applied 10| common idends. This was | the moti < of the huying waich | carried Columbia Gas to a new high | above 44. i Rubhers Are Stronger. | On the strength of reports that United State: bher would do fully | as well in the second half vear as it | did in the first, when earninss | amounted to over $2 a share on the common, rubber first preferted went higher. The Goodvear stocks stood out more prominently, with the pre ferred up nearly 2 points The advance in Stewart-Warner was set down to the covering of shorts put down last week on re- ports that the present dividend was | not being earned and that a further | cut would be necessary. The jump in | American Chij was in response to | estimates of earnings much in excess | of anticipations. The pressure was tifted from American Ice. Industrial | Alcohol made a better showing than it had for several weeks, as the re- sult of another advance of 3 cents & gallon announced this morning in all grades of alcohol. Coco-Cola Advances. The same sort of buying which was observed in Coca-Cola when it sold last week between 69 and 71 con- tinued today, carrying the stock to its best pricds for the current move- ment. It was calculated, however, that 90 per cent of the business in Coca-Cola stock was being done by | professionals. This condition was mot unusual, for Coca-Cola is a favorite of the speculative element and responds most readily to their activities. The $7 dividend which has so often been regarded by the outside fol- lowing as unsafe will be maintained, according to well informed people. The recent activity in New York, Ontario and Western common could be explained on the ground that the company was being cons'dered in merger plans of the New York Cen- tral or some other groups. Earnings provide no incentive to the buying of the common stock, for Ontario and Western has shown barely enough to cover fixed charges. CLOSE IS IRREGULAR. Selling of Industrials Brings Last Hour Declines. By the Associated Pre NEW YORK, prices moved v eptember 15.—Stock thin a narrow trading area in to market, the dullest full day’s s n this year. Strength of the non-dividend pa pecially the Rock I one of the few fe. 2 vroximated 500,000 shares. as irregular; selling industrial share: Delaware and Hudson, Southern Rail- way and Maxwell Motors A brought about sion in other quarters at the close, although many specialties continued to show independent strength. Markets at a Glance NEW YORK. — Stocks non-dividend-paying railroads strong. Bonds firm; low-priced rail liens active. Foreign exchanges stead: sterling slightly lower. Cotton weak: heavy hedge selling. Sugar lowe easier; spot market. Coffee eas: favorable Brazilian crop news, CHICAGO.—Wheat higher; expect- ed bullish Canadian estimate. Corn easy; favorable weather. Cattle slow and lower. Hogs higher: better ship- ping demand. FARMERS HANGING UP NEW HAY RECORDS Special Dispatch to The Star. BALTIMORE, Md., September 15— Farmers of Maryland may hang up new high records for hay production this season. shys John S. Dennee, Federal crop statistician at Balti- more. who bases his opinion on crop conditions in the State on September 1. If the present crop outlook will be realized, and it will be, he says, allowing for average variations from now till the hay is finally gathered, a crop of about 718,000 tons will go into the barns of Maryland. 'This big total has never Been exceeded since the department began to keep records of hay production in Mary- land, he adds. Average production of the past five years is 551,000 tons. During the season 1923 only 420,000 tons were made. The growing season this year was distinctly favorable most of the time to haylands and meadows. Many farmers report bumper yields. Condition September 1 in Maryland was given as high as 110 per cent of a normal. irregular; FISHER'S -PRICE INDEX. NEW HAVEN, Conn., September 15 (Special).—Last week’s prices aver- aged 149.7 per cent of prewar level The purchasing power of the dollar ‘was 66.8 prewar cents. Crumps’ in- dex number 157.9, Irving Fisher r ports, » ) Bethlehem Stee Booth Fisheries. Brk Edison (8). Brk-Man Tran. . Erklyn Un G (4) Brown Shoe (4). Burns Br (10) Butte C & Zinc. . Butterick Co. Caddo Cen O & R Cal Packing (6). Cal Pet (1%). Callahan Z Lead Calumet & H 50c Can Pacific (10). Cent Leather Co. Cent Lea Co pf.. Cerro de Pasco(4) Certain-Td Prod Cert-Td 1st (7). Chand Mot (3).. & Ohio (4). Ch & O pf (6%2). Chicago & Alton Chic & Alton pf. Chic & East IIl.. Chic Gt West Chic Gt West pt. Ch Mil & St Paul Ch Mil & St P pf. Chi & Nwn (4).. Chi RI1& Pac... CRI&Ppt (6). CRI&Ppf (7). Chi Yellow C (4) Chile Cop (21%). Chino Copper. .. Coca-Cola (7) Colo Southern Colo Fuel & Ir¢ Col G & E (2.60). Col Carbon (4).. Congoleum (3) | Con Gas of B (8) Consol Gas (5).. Comsol Textile.. | Cont Can (4). Corn Prod (2 Cosden Co...... Crucible Stl (4). Crucib Stl pf (7). Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pf. Cub Dom Sugar. Cub Dom Sug pf. Cushmans (3)... Cuyamel Fr (4). Daniel Boone. ... Dayidson Chem. De Beers Mine: Del & Hud (9) Del L& W (6) Det Ed Co (8). .. Dome Mines (2). DuPtdeN (8).. Eastman (+7%).. Eaton Axle’& El Stor Bat (4).. End-John (5) . Erie......... Erie 18t pf. Exch Buffet (2). Famous Pl (8).. Famous PI pf (8) F'd M & S pf (7) Fifth Av B (64c) Fisk Rubber. Fisk Rubber pf. Fleischman (13 Foundation (6). Gen Am T C 3). Gen ATC pf (7) Gen Asphalt. ... Gen Baking (6). Gen Cigar (8)... General Elec(8) Gen El spe (60c) Gen Mot (1.20) . . Gen Mot pt n (7) Gen Petm (2)... Gimbel Bros.... Gimbel Br pf (7) Goodrich..... Goodrich pf (7). Goodyear pf.... G'dyear pr pt (8) Granby Consol.. Gt North pf (5). Gr Nor Ore (3).. Grt Wstn Su (8). Guantan Sugar.. Gu Mo & N pt (5) Gulf StStl (). Hartman Co (4). Hayes Wh'l (3). Houston Oll. . Hud Mot C (3) Hupp Mot C (1). Indiahoma Ref.. Indep Oil (1).... Indian Motoreyc Inger R (128).... Inland Stl (2%). Inspiration Cop. Interb Rap Tr... Internat Ag new. Int Bus Ma (8).. Int Cement (4).. Int Com Eng (2) Int Mer Mar pf.. Internat Nickel. Internat Paper.. Int Ry Cent Am. Int T&T (6). Invincible Oil Jones Bros Tea.. Jordan Mot (3). Kansas & Gulf.. Kan City South. Kan C So pf (4). Kayser Jul & Co. Kelly Spr Tire. . Kelly Spg 1st pf. Kelly Spgfd pf. . Kenne Cop (3).. Keystone T & R. Kinney G R Co.. Lee Rub & Tire.. Lehigh Val (3%) Lima Loco (4).. Loews Inc (2).. Loft Incorpor. .. Loose-Wiles Bls. L'se-W 24 pf (7) Lorrillard (3) Louis & Nash McIntyre (75¢).. Mackay Cos (7). Mack Trucks (6) Mack Trucks rts. Macy R H & Co. Magma Ccpper. Mallinson & Co Man El md gd 4. Maracaibo Oil Mkt St Ry prpf. Marland Oil - Mathieson Alka 8l% 8% 73% 115 60% 13 34% 41% 127% 115% 162% 24% 22% 6 116% 17 75 27 9% 46% % 81% 9%, 73% 115 61% 13% 35 4l% 127% 115% 163% 24% 24% (3 116% Low. 81% 8% 72 115 60 13 34% 41% 125% 116% 162% 24% 22% 5% 1164 17 5 26% 78% 46% 7 11% 734 100 36% 47 90 128% 151 150 106% 111% 52% 37% 117% 284 1041 91%5 1% 4 131% 16% 89% 134 119% 114% 61 19% dan 97 624 43% Close. 81% 9 72 115 60 13% 35 41% 126% 116% 163% 24n 23% MY €6 1% 83% 45% 97 41% 142 87 265 11% 14% 96% a1 59% 105% 24% 82 61% 7% 18 624 28% 87 6% 69 2 83 34 12 28% 13 % T 17 240 35% 26% 26 6% 104% 48% 26% 39% 17% 45% 15" 81% 12% 17 31% % 21 ba% 20% 17 54 55 46% 1% 3 10% 53 604 16% 6% 69% 9% 39 98 16% 113% 95% 2% 65 x 35% 21% 46% 28% 45% 34k 39 Low. Close. 59% 49% 16% 17 94% 94% 23% 24 22 22 1% 1% 2% 2% 16% 16% 46% 46% 19 19% 52% 65 34% 22% 129% 68%% 36 149% 1% 14% 105% 41% 27% 4 106% 116% 91 22% 21% 28% 18% 126% 29% Open. High. 61% 61% 17% 18 94% 94% 24% 24% 22 22 1% 1% 2% 2% 15% 16% 47 47 19 52% 65 347% Maxwell Mot A.. Maxwell Mot B.. May Dept St (5). Mex Seabd (2) Miam1 Cop (2) Middle StOl. ... Minn & St Louis. Mis Kan & Tex.. Mis K & Tex pf.. Missouri Pacific. Missourl Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... 22% Nash Mot (10).... 129% Nat Biscult (3).. 68% Nat Dairy (3)... 86% Nat Lead (8).... 149% Ry M2dpf.. 1% ev Cons Cop... 14%% N Or T&M 1231, 1054 Y Air Br (4) 41% Y Canners (2). 27% Y Central (7). 106% Y C & StL (6). 116% YC&SIL pf (6). 91 NY NH & Hart.. 23 N Y Ont & West. 21% Niagar F pf13%. 28% Norfolk South.. 18% Norf & W (18).. 127 North Am (2.40) 30 North Am pf (3). 47% North Pac (5)... 64% Orpheum (1%).. 21% Otis Elev (n) (4) Otis Steel Owens B pf (7).. Pacific Co. 2 Pacific Develop. PacG&E (8)... Pacific OI1 (2)... ard (1.20).. ackard pf (7).. an-Amer (4).. Pan-Amer B (4) Park & Tilford. . Penn Railr'd (3) Penn Seab Steel. Pere Marq (4)... Pere M pr pf (5). PhilaCo (4).... Phila&R&T. Phil Mor (50c) Phillips Pet (2). & Pierce-Arrow... Picrce-Arrow pf 34% Pierce Oil. . Pierce Oil pf. Pitts Coal (4)... Pitts Ut pt (1.20) Pitts Ut ctfs 1.20 13% Pitts & West Va. 60% P& W Va pf (6). 105% Postum Cer (4). 61 Prod & Refiners. 281 Pr& R pf ). 454 PubSerNJ (4). 68% Public Serv rts.. 16% Pullman Co (8).. 127 Punta Al Su (5). 55% Pure Oil (1%)... 23% Ruy Cons Cop... 124 Reading (4). 60% Readingrts..... 2% Read Ist pf (2).. 85 Remington Type 39 Replogie Steel.. 11% Rep Ir & Steel... 47% Reyn'ds Spgs (1) 14% Rey TobB (3)... 774 Roy Dth (4.42%) 42% Rutland pf...... 64 St L San Fran. St L-San Fr pt St L Southwest.. St LS'th pf (5).. Savage Arms &chulte (8) Seaboard Air L.. Seab'd Air L pf.. Sears-Roebk (6) 104 Shell Trad (2.06) 33% hell Un O1l (1) 16% Shell Un pf (6).. 95% Simmons Co (1). 24% Simms Pet...... §14% clair Ol 18 Skelly Oil 18% Sloss-She . 7% Sloss-Sh pf (7).. 914 South Pac (6)... 944 Southern Ry (5) 67% South Ry pf (5). 75% picer Mfg...... 1% Std Gas & El (3) 87 and Mill (5) . 63 St Oil Cal (2) 57% StOIINJT (1).... 35% St Oil NJ pt (). 117% Stand P1G1 (3).. 2T% Sterling Pr (4).. 62%4 Stew’t Warn (5). 5315 Studebaker (4).. 39% Submarine Boat. Superior Oil. ... Sweets Co of Am Telautograph. .. Texas Co (3) Tex G Sulph 7). . Tex & Pac C & O. Texas & Pacific. 354 The Fair (7).... 105 Tob Prod (6).... 65% Tob Prod A ( 92 Transcont Oil... 4% Un Bag & Paper. 37% Un Pacific (10).. 139% Un Pac pf (4)... 74% Un Tank Car (5) 127 . Utd Fruit (10).. 206 Utd Ry Invest... 17% Utd Ry Invest pf 41% U S CastlIronP. 104% USCIP pf (7)... 95 U S Distributing 27 U S Hoff Mach.. 21 USIndAlcohol. 68% USR &Ipf (7).. 102 U 'S Rubber.. 32% USR1stpf (8). 84% U S Smelting.... 33 U SSmtpt (3 43% U S Steel (16%). 107% U S Steel pf (7). 121% Universal Pipe.. 17% Utah Copper (4). 764 Utah Securities. 33% Va-Caro Chem.. 1% Vivadou..-..... bk Wabash 14% Wabash pfA.... 41% Wald Sys (1%).. 14% Web & Heilb(1). 15 West Pen (4). West Maryland. West Md 2d pt. Western Pacific. West Pac pf (6). 70 West Un Tl (7).. 114% West E&M (4). 62 Wh Eag Oil (2). 24% Whi &L Erfe.... 11% White Mot (4)... 63% Wickwire Spstl. 1 Wwilson & Co. 5% Wil & Co pf. 18 Willys-Overl'd.. 8% Willys-Ovd pt... 675 Woolw'th n (3).. 110% Wright Aer (1). 11% 12 Yellow Cab (6).. 53 63 63 {Partly extra. iPayable in preferred . Dividend rats as given in the above ble are the annual cash payments based on the latest quarterly or half-yearly declaration: Unless otherwise noted, extra or dividends are ot included. €3 96 48% 1% 99 63% 53 26 44n 1% 60% 81 49% 13% 68 102 32% 841 32% 43% » 106% 121% 17% 76 33% 1% 5% 14% a% 14% 15 84 11 19% 21% 694 % 113 62% 24% 115% 634 1 5% 18 8% 675% 109% 11% 110% TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) —Noon. Bid Gtter: 100 1532 100 9-16 © 100 1116 101 13-16 1101332 101316 1005 101% 101 2332 101 2732 12310 s 01 202t 103512 Dae e 414s December 13, 1924, 43 March 15, 1025.., %s March 15, 1025, 4135 June 15, 1925, 4%s December 13, 4%s March 15, 1926. 4is September i 43%s March 15, 1927. 4izs December 15, 19: e FOREIGN EXCHANGE. (Quotatious furnished by W. B. Hibbs & Co.) Nominal Selling checks 3 goid value. today. London, pound . 4.5065 Montreal, dollar Paris, franc Brussels, franc . Berlin, mark . Rome," lira . Zurich, ~franc { Atliens, drach Madrid, peseta Prague. crown . Warsaw, zloty Copevhagen, crown .. Christiania,’ erawn . Stockbolm,” crowa . b1 Amoskeag FEATURE MARKET Speculative Rails Active as Week Begins—U. S. Obli- gations Higher. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 15.—Spec- ulative ralls were the leaders in to- day's bond market. The feature was the jump of 2 points in Seaboard Alr Line adjustments, accompanied by strength and activity In Seaboard re- funding 4s and Consolidated 6s. The next payment on the adjustments is due February 1, 1925, and Interest still in arrears amounts to 12% per cent. Today's buying revived reports that something extra would be de- clared on these bonds at the next meeting of the directors. According to the latest earnings statement, the Secaboard is covering not only all fixed and contingent charges but preferred dividend requirements. Meanwhile if only the regular rate is paid cur- rent return is around 8 per cent, while the 4s and the 6s return around 7% per cent. Other Insues Advance. Chicago & Eastern Illinois were in favor today, advancing a point. Chicago & Kastern Illinois rnings have been disappointing so far this vear, but car loadings have recently taken a turn for the better and sentiment toward the road's se- curities has improved. St. Paul issues all did better, responding still more to the optimistic predictions of the vice president as to earnings for the balance of the year. International Great Northern ~ adjustments were again firm. Fractional advances were scored by St. Louis-San Francisco income 6s and adjustments, on both of which interest payments are due October 1 next. French Bonds Higher. United States Government bonds were a trifle higher. Transactions were unusually heavy especially in the second 4%s. Investment rails were generally steady. Rock Island refunding 4s crossed §1. The high for the year was 83 reached in June. Today's advance may have been con- nected with the activity in the stock although the bond usually sells pure- 1y on its investment merit. In foreign bonds, French issues | s01d a little higher although still well below the best prices for the year. Renewed discussion of plans for fund- ing the French debt to the United States and talk of a new French gov- ernment loan drew attention to the outstanding bonds. f Day's New Offerings. | By the Associated Press. EW YORK, September 15.—The list of new bond offerings today was headed by $20,955,000 New York Cen- tral Railroad 41 per cent equipment trust certificates, priced to yield 4.70 per cent for all maturities and issued under the Philadelphia plan in de- also « | nominations of $1,000 payable to bear- er with the privilege of registration. The Guaranty Trust Company of New | York is trustee. MILLS MAY CUT PAY AND WORKING TIME Conference Involved 14,000 Opera- tives in Big Plant at Manchester, N. H. STER, N. H., September 14,000 operatives, the Manufacturing Company contemplates a proposed reduction of | wages and a curtailed working sched- ule. Leaders among the operatives estimated that the proposed cut would be 121z per cent, with a five-day 15.—With . | working week. A conference between | mill officials and representatives of |the workers has been arranged for tomorrow at the instance of the man- agement |"“The company claims that wage re- ductions in Rhode Island make it nec- essary to make changes here. COTTON REPORT OUT. August Consumption Figures Are Above July. Cotton consumed _during August amounted to 357,455 bales of lint and 44,296 of linters, compared with 346,671 of lint and 40,884 of linters in July this year and 492,483 of lint and 48,595 of linters in August last year, the Census Bureau announced today. Imports during August totaled 4,136 bales, compared with 6.597 in July this year and 3,420 in August last year. Exports during August totaled 277, 641 bales, including 6,064 bales of lint- ers, compared with 211,533, including 8,906 pf linters, in July this year and 244,415, including 3,825 of linters, in August last year. Cotton spindles active during August numbered 28,945,603, compared with 28,710,359 in July thie year and 33,- 704,830 in August last year. CURRENT MONEY RATES. NEW YORK, September 15—Call money, steady; high, 2; low, 2; ruling rate, 2; closing bid, 2; offered at 2% last loan, 2; call loans against ac ceptances, 1%; time loans, steady; mixed collateral, 60-30 days, 2%a 3; 4-6 months, 3%a3%; prime com- mercial paper, 3%a3%. TODAY’S ;ETAI. PRICES. NEW YORK, September 15.—Cop- per, easy; electrolytic, spot and near- by, 131 futures, 13%a13%; tin, easy; spot and futures, 49.12. Iron, steady; No. 1 northern, 20.50a22.00; No. 2 northern, 20.00a21.00; No. 2 southern, 18.00a18.50; lead, steady; spot, 8.00: zinc, steady; Kast St. Louis, spot, 6.25; futures, 6.25a6.27; antimony, spot, 10.75. RAW WOOL ACTIVE. BOSTON, September 15 (Special).— Continuation of speculative buying marked the opening of the new week in the raw wool markets. Half-blood territories have been firmly estab- lished at a $1.30, clean, level, which also is_the market for Australian 64 by 70s clean in bond. Interest centers on the sales at Sydney and London this week, where prices are expected to register increases. S NET EARNINGS REPORTED. NEW YORK, September 15.—The American Water Works & Electric Co., owning the largest group of pri- vafely owned water works plants in the United States in addition to sev- eral electric_properties, reports net earnings of $9,952,061 after deprecia- tion, for the year ended July 31. This is equivalent after first preferred divi- dends to $11.59 a share on. both the common and participating preferred stock outstanding, compared with $2,842,777 or $11.63 a share in the preceding 12 months. LIVE POULTRY HIGHER. CHICAGO, September 15.—Poultry, alive, higher: fowls. 17a25; springs, 2¢; roosters, 16~ = (Sales are in $1,000.) UNITED STATES BONDS. thirty - seconds. (Fractions represent Example: Sales. High. Lib3%s. Lib 1st Lib 24 4% Lib3d 4%s Lib 4th 43 US4%s1952.. 828 102 98-3 means 98 3-32.) Low. Close. 2 100-23 100-23 100-23 21 101-31 101-28 101-31 832 101-2 101 101-4 101-28 101-31 826 1027 102 117 105-6 105 FOREIGN. Bules. High. Argentine b Argentine Argentine Austria 7s.. Belgium 6s...... Belgium 6%s w 1. Belgium 7%s. . Belgium 8s. 16 .14 Bordeaux 6s. Canada 6s 1926. Canada 68 1931, . Canada 5s 1952 Canada 5%s 1929 Chile 78 1943 Chile 85 1926 Chile 851941. . . Chile 85 1946 Chinese Gov Ry bs Christiania 8s Copenhagen 5%s. . Cuba 6%s. .. Czecho 8s 1951. ©zecho 8s 1952 ct. Danish Munic 88 A. Danish Munic 8s B, Denmark 6s . Denmark 8s. Dutch EI16%s... DEI5%sct Dutch East I 6s Dutch East I 6s'62 Finland s f 65 1945. French Govt T%s. French Govt 8s Hungary 6%s Japanese 4s. Japanese 6%s. Jergens U M 63 “47. Lyons 63 Marseille 6; 5 Mexico 4s '04 asntd. Montevideo 7s. Netheriands 6s therlands 6s 7 Norway 6s 1943.... Norway 65 1944 Norway 63 1952 Norway 8s... Orient Dev del Paris-Ly's-Med 6s. Prague 7%s....... Queensland 6s Rio de Jan 8s . Rio de Jan 8s 1947. Rio Gr Do Sul §s.. Sao Paulo City §s. Sao Paulo State §s. Seine Dept. of 7s. . Serbs Crotes Slo 8s 23 Soissons 6s.... s Sweden 6 Swiss 5%s 1946.... 18 Swiss Conted 83 1 Toklo 53 Sk Ud Kingm 5%s°29. 4 Ud Kingm 5%s°37. 36 4. 81% 93% 102% 94% 100% 96 108% 107% 93% 88% 8214 97% 101% 102% 102% 103% 974 103% 105% 105% 43 109% 93 96% 100% 100 108% 108% 100 1t 20 ~89% 96 95% 8% 102% 106% 8% 82% 92% 81% 884 85% 19% 90 99% 96% 970 89 87 105% 98% Low. 81 93% 102% 94% 100% 95% 108% 107% 93% 88 81% 96% 101% 102% 102% 103% 97% 103% 105 105% 43 109% 4% 96% 100 99% 108% 108% 99% 1 MISCELLANEOUS. Ajax Rubber8s... 5 Am AgrChem5s.. 8 Am Agr Chem 7%s 24 Am Chain s f 6s°33. Am Cotton Oil 55 Am Repub deb 6s. Am SmIt&R 1st 6s. AmSmit& R 6s Am Sug ref 63 AmT & Tl tr4s, Am T&T cl tr§s. Am T & T deb 5%s. AmT& Tcv 6s. Am Water Wks Anaconda 1st 6s. Anaconda cv db 7s. Armour & Co 4%s. Armour of Del 518 Barnsdalls£8s.... Bell Tel Pa 5s Beth Steel 5% Beth Steel s 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. Can Gen El deb 6s. Central Leather 5s Chile Copper 6s. .. CinG & E5%s'62.. Col Gas & El6s.... Col Gas & El 5s sta Commonwth P 6s.. Con Coal Md 1st 5s. Consumers Pow 5s. Cuba Cane cv 75 '30 Cuban-Am Sug 8s.. Denver Gasbs..... Dery (D G) 78 . Det Edison ref . Du Pontde N 7% Dugquesne Light 63 Est Cuba Sug 7% Empire G&F 7%s.. Fisk Rubber 8s.... Francis Sug 7%s. Gen Elec deb 58 Goodrich 6%S8. Goodyear 8s 1931 Goodyear 8s 1941 Hershey 68 1942. Humble O&R 5% Ilinois Bell 1st 6 Illinols Steel 4%4s Indiana Steel 55. Int Mer Marine Inter Paper 68°47.. KCP&Lt65sA'62 Kan G & E1 65’62 Kelly-Spring 8s Lackawa S bs ‘50 Liggett & Myrs 5s. Liggett & Myrs 7s. Lorillard (P) 5s. Magma Cop cv 7s. Midvale Steel 5s ct. Montana Power 5s. Nat Tube 1st 5s New Eng Tel bs T e N Y Tel 68’4 N Y Tel 68°49.. North Am Ed 65 North Am Ed 6% Nor Ohio T&L 68. . Nor States Pow b Northwst B Tel 7 Otis Stecl 7%8 Otis Steel 88 Pacific Gas & E1 §8 Pac Tel & Tel 5s. .. Pacific T & T 68'62 People’s Gas 63 Phila Co 5%3538... Phila. Co ref 68 A Phil & I.:d‘ . 5 jerce-Arro Prorucers & RE 85, 4 Public Service s.. 182 BRCAN ARORNOOmORHmADAR S NENDONIERRAN inclair Oil 78 Sta Crade Oll 5% Sin Crude Oil 63 Sin Pipe Line bs. So Por Rico Sug 7s. 1 Southwest Bell 6s. 29 Steel & Tube 7s. 4 Tide Wat Ol] 6% Toledo Edo 1st USRub 1st 1t U S Rubber 7%s. USStecl st6s... Utah Pow & Lt 58, va-Car Chem 7s.... va-CarCh1%ssw Vertientes Sug. Warner Sug 7 ‘Western Elec 5 West'n Union 63%s. Westinghouse 7 Wickwire Spen Willys-Ov 6% ‘Wilson & Co cv 6 Wilson & Co 1st ts. ‘Winchester A 7%s. Youngsn 5 & T 6 2 2 15 15 49 13 924 100 95 974 90t 924 94 103% 100% 97% 101% 1024 119% 91% 984 100% 854 92 103 100 834 9644 2614 101 17% 96% 118% 88% 98 101% 101 112% 85% 100% 96 106% 107% 96% 100% 90 9344 109 88% 84% 93% 8% 92 95% 94 102% 99 86% 109% 105 102% 109% 105 102 86 91% 100% 100 84% 102% 9644 105% 103% 108% 83% 103% 104% 1% 63% 82% 94 90% 98 110% 108% 71 98 45% 85% 102 5y 9214 100 944 97 90% 92 93% 1087% 100% 97 101% 102 119% % 7% 100 B85% 117% 96% 18% 88 974% 101% 100% 112% 85% 100% 96 1064 107% 96% 100 88% 93% 1084 88% 94 2% 98% 92 95 93% 102 98% 85% 109% 104% 102% 109% -104% 102 85% 1% 100 100 83% 1024 96 105% 103% 108% 83% 103% 1043 90% 63% 82% " 0% 9% 110% 108% 0% s8 45% 854 101% 5% —_—— read the want I you need work, columns of The Star. 102-7 105-6 Close. 81 93% 102% 94% 100% 95% 108% 107% 93% 88% 82% 97% 101% 102% 102% 105% 97% 103% 105% 106% 43 109% 95 26% 100% 100 108% 108% 100 1 89% 89% 95% 9% 87% 117% 95 118% 88% 98 101% 100% 12% 85l 100% 91 6 106% 107% 96% 1008 90 93% 108% 8814 94% 2% 98% 92 95 4% 102 99 86% 109% 105 102y 109% 105 102 85% 9114 100 100 843 102% 964 105% 103% 108% 834 103% 104% 1% 631 824 9% 0% 7% 110% 108y 1 28 45% 85% 102 6% RAILROADS ‘Bales. High, 2 63 11 89 3 85% 22 90% 11 99% 4 87% 13 88% 10 85% 13 102% 100% 99% 67% 83 79% 114% B7% 118% 115% 79% 9% 104% 864 95% 88 Low. Clese. 63 63 88% E8% 85% 85% 90 90 997 99% ! 7% 87% 88% 88% 854 86% 102% 102% 100% 100% 99% 99% 66% 67% 83 83 79% 9% 114% 114% 87 87 116% 116% 116% 116% 9% 79% 99% 104% 86% 5% 88 98 43% 8EY% 101% 89% 2% 56% 53 4% 1% 62% 58% 80 52 6% 97% 98 110% 107% Ann Arbor 4s. Atchison gen AtlanticC Ll Atlantic CL 1at 4s. O Toledo 4s... B & O PLEWV 4 Bklyn-Manhat 6 BKIRT 7s'21ct... Buff R & Pitt 4%s. Canad North 6% da North 7s. Canad Pac deb Car Clinch & O 6 Car Clinch & O 6 Central Pacific 4 Ches & O cv 4%s. Ches & O gn 43%a.. Ches & Ohio cv b Chi & Alton 3%: Chi B&Q gn 48°68. Chi B&Q 1st rf 6s. C B & Q-Il1 div 4; Chi & E 111 gn s, Chi Great West 4: C M & Puget Sd 4s. ChiM & St P 4825 241 Chi M&St P 45'34.. 2 CM&StPdb4s... 27 Chi M&St P cv 4%48 46 CM&StPgn4ls. 3 Chi M&St P rf 41%s. 38 ChiM & St Pev bs. 14 ChiM & St P 6s.... 22 Chi& N W ref 6s.. 12 Chi& N W 6%s. Chi & N W 78 Chi Rys bs. ChiRI&P ChiTH&SEbs.. Chi Un Sta 4%s. Chi Union Sta 5s. Chi & W Ind cn 4s. Chi W Ind 7%s.. CCC & St L 6s CCC & StLrf Cleve Term bs. Cleve Term 5% Colo & Sou 4% Den & Rio G cn 4s. D & Rio G imp 6s. . D& RG 1strf bs Det United 4% Erfe 1st con 48 Ericgen 4s... Erie conv 4s A Erle conv 4s D Erie con ext Erie & Jersey 6s. Gr Trunk =f db 6; Great North 6s. Gr North gen 53%s. Gr North gen 7s... Havana ERL&P 63 Hud & Man ref 5s.. Hud & Man aj 5s.. 11l Cent ref 53 '55. n: ntral 5% Int Rap Tran 6s. .. Int Rap Tr 58 stpd. Int Rap Tran 6s... Int Rap Tran 7s... Int & G Nor aj 6s.. Kan City Ft S 43 Kansas City S6s.. Kan City Term 4s Lake Shore 45 '28.. Lehigh Val cn 4s. Long Island rf 4s.. Louis & N 53 B. Louis & Nash 7 Market St Ry 78 M & St L 1st ref M StP & SSM cn 48 M StP & SSM 6l3s. & Z & .4 & . 160 K&TprinbsA. 11 MK&T6sC . Mo Pacific gn Mo Pactfic 63 .2 vassau E Ry 4s'57 Y Cent gen 3%s. Y Cent cn 4s'98 Y Cent deb 4s N Y Centr i 5t YCent deb 68 YC&StLdb YChi& SL5% YC&StL6sA.. ew Haven d 4s'57 ew Havencd 6s.. ew Haven 7s..... Y Ont & W ret 4s N Y Ryrfdsctfs.. Y Rysadj5sct.. Y State Ry 4%2s. Y W & Bos 4%3s. orfolk & W cn 4s. Norfolk & W cv 6s. Northern Pac 3s, Northern Pac 4s Northern Pacr i 63 Pennsyl con 4% Pennsyl gen 4% Pennsyl 6%s. Pennsyl gold 7 Pere Marq 1st 6s... PCC&StL5sA.. Reading gen 4s. Reacing gn 4%s RIATk & L 43%s. St LIM&S R&G 48 127% 60% ¥5l9 1057% 98% 934 110 109% 96% 100% 3% 9215 80 82% 69% 85% 92% 9% 3% 102 & 80% 84% 8% % 99% 99% 8% 8% 5% 66 60% 627% 81% 81% 97 . 97 Bal 8434 £8% 88% 3% 3% 99s 100 102% 1024 106% 106% 50% b1 991 99% 1% 91% 9% 99y | 103% 103% @ I PR R mPNDBRON NS 0O N~ StL&SFprin StL& SF5%sD.. StL &S F adj 68 StLaSF inc 6s StL&SF StLSW St LS W con 4s'32. StP & KCShL 4% StP UnDep 6% SanA & Arn P Seab'd A L ref 4s.. 246 Seab'd A L.ad} b Seab'd A L con 6s.. 38 Sou Pacific 43'29.. 23 Sou Pacificctl 4s.. 5§ Sou Pacific ref 4s.. 1 Southern Ry gn 4s. 15 Southern Ry 1st bs 23 Southern Ry 6sct.. $ Southern Ry 6%s. T Third Ave adj 6s. .. 26 TolSt L& W 3%s.. 2 Union Pac 1st4s... 9 Unlon Pac 45°27... 33 Union Pac 1strf5s 2 virginia Ry st6s . 13 55 96% Va Ry & P 1st 58, 93 93 Wabash 2d 5s. ... 93 93 Western Md 4s 63% 63% Western Pacific 90 91 West Shore 1st 4 82 88% Wheel & L E cn 4s. 0% 0% Whel & LE f 4%s 64% 64y Wlkzs-B&E 1st 5. 63 63 Wisconsin Cent 4s. 1 81% 8l SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Rid, . Offer. 103% 10315 106% 107 1004 100% 18y 120 108 103% 10214 Aluminum Co. of Amer. Aluminum Co. of American §) American Tel. & Tel. Anaconda Copper 6s, 1929. Anglo-American Oi17%s, 19: Assoclated Oil 6s. 1935. Bell Tel. of Cana Canadian Norther Central of Georgia 6s. Central Leather 5s, 192 Chi., Mil. & St. Chi; R. I & Pa Col.” Gas & Du Pont 7 Federal Sug Kisher Body Corp G, 1927 New York Cent Oregon Short Line 4s, 1929. Penna. R. R. 7s, 1930 Pure O1l 5igs, 1925, Swift & Co. 58, 1932. Tidewater Ofl 6%s, 1981 Union Tank Car 7s. 1930, U. 8. Rubber 7%s, '1930. Western Union 6%s, 1936. Westinghouve E. & M. Ts, Wheeling Steel 6s. 1926, PRAIRIE OIL DIVIDEND. INDEPENDENCE, Kans., September 165.—A dividend of $2 per share has been declared on the stock of the 1981 pl { 1.50. | 10.00. Prairie Oil and Gas Company, pay- able October 31, 1924 to stock of rec- ord September 30, 1924, It was an- gounced today. - §3.50 PER BALE Last Week’s Selling Move- ment Carried Further in Trading Today. By the Associated Pres: NEW YORK, September 15.—A break of approximately $3.50 a bale occurred in the cotlon market herc today under a renewal of the selling movement responsible for the severe declines of last week. Reports of a tropical storm in the| tin Washington South appeared to be without any immediate influence, and the early market was unsettled at the decline to 2210 for October and 21.50 December. Cotton for October delivery sold off at 21.83, or 72 points net lower. The market closed weak at net declines of 71 to 75 points. Cotton futures closed weak. October, January, 2.03; March, New Orle: NEW ORLEANS, Septembe: The cotton market opened weak to- day in sympathy with much lower Liverpool than due. First trades were 22 to 36 points down on near months and 20 to 24 down on more distant positions. Prices continued to ease off until October traded down to 21.35 and December 21.48, or 40 to 41 points lower, compared with Satur- day's close. Cables attributed the weakness in the English market to heawy selling by London traders. The tropical storm is said to have caused heavy rains in the eastern half of the belt and temperatures were low in the western half. Cotton futures closed barely steady at net decline of 68 to 73 points. October December January January, 21.71; Mazeh, 21.96; May, GRAIN AND PROVISIONS. BALTIMORE, September 15 cial).—Potatoes, white, bushel, 100 pounds, sweet potatoe: barrel, 4.00a4 1.40. 'Bee! 100, 3.00a5.00. Celery, crate, 1 13130. Cucumber. Eggplants, basket, 65a75. crate, 1.00a2.00. Onions, 100 pounds, 1 . Peppers, basket, 30a40. Spinach, basket, 60a80. Pumpkins, 100, 6.00a15.00. Tomatoes, basket, 40a63; packing stock, bushel, 1.00a1.15. Apples, barrel, 1.50a4.00; bushel, 1.56. Crabapples, basket, 40a65. C: taloupes, basket, 35: pounds, 3.50a4.00. 60a1.00. Huckleberries, quart, 12al Peaches, basket, 60al.10; bushel, 1.25a Pears, basket, 40a1.00: bushel, 1.50a3.00. Watermelons, 100, 8.00a 100, Corn doze: n- Settling Prices on Grain Wheat—No 2 red Winter, spot, 1.42%; No 2 red Winter, garlicky, 1.36; No. 3 red Winter garlicky, 1.32% Sales—Bag lots of nearby sold at a range of 1.25 to 1.32 per bushel; car- goes on grade, No. 3 red Winter gar- A | licky, 1.32. Corn—Cob. old yellow, 6.50 per bar- rel; old white, 6.35 per barre! corn, spot, no quotations; quotations; track corn, yello 137 Sales—None. Oats—No 2 new, 57 per bushel; 3, 56 per bushel Rye—Nearby, spot, 1.081 Hay—No receipts. There is much activity in the demand new hay and present receipts are am- ple for trade wants. Damaged and off-grade hay has no settled value. Quotatiqns toda: No. 1 timothy, 19.00a20.00; No. 2 v, 18.00a19.00: No. 3 timothy 16.00a17.00; No. 1, light clover mixed. . 1, clover mixed, 16.00 9521.05; No. not for wheat, new, 12.00a CHICAGO GRAIN PRICES. CHICAGO, September #5—Wheat took an upward swing in price early today as a result of active buying based more or less on Liverpool quo- tations higher than had been looked for. The market was also strength- ened by the fact that latest estimates of yield in Saskatchewan were much elow any heretofore current. Indica- tions of new export business tended further to lift values. The opening, which ranged from 12 to 1% higher, with December 1.32% to 1.33% and May 1.39% to 140, was followed by slight additional gains and then something of a reaction. Increased selling pressure from large commission houses weakened the corn market, despite pessimistic | crop reports and rallies due to wheat strength. After opening at % lower to ! higher, December, 1.13% to 1.13%, corn under- went a decided setback all around. Oats held steady within narrow limits. Starting unchanged to % higher, December, 52% to 53, prices showed but little change. Higher quotations on firmness to provisions. WHEAT— High. September December notwithstanding hogs gave Low. Close, bhb BEb ap FAF FEk December May, LARD— September October b H BUTTER HIGHER TODAY. CHICAGO, September 15.—Butter —Higher; creamery extras, 37%; stand- ards, 36%; extra firsts, 35%a36%; firsts, 34a34 seconds, 32a33. Eggs—Unchanged; receipts, 13,410 cases: firsts. 34a37: ordinary firsts, BOSTON STOCK MARKET. BOSTON, September 15.—Following is a list of today's highest, lowest and closing prices for the most ac- tive stocks dealt in here: High. 128% 54 6 104 1% Low. Close. o8 1034 164 16% 24% 2 4% 2314 1514 Am Tel & Tel Am Wool ‘Amoskeag Arizona Com . Boston & Maine Calu & Hecla Connor J T Co Swift'& Co . Swift “Internat United Shoe Mac United Shoe Mach Ventura Ofl for | basket, 1Mol 50 Lettuce, | . Damsons, 100 | Grapes, 4-8 basket, | | terence. GARRETT ELECTED EXCHANGE NENBER $1,000,000,000 Involved in Day’s Treasury Operations. Local Securities Quiet. BY CHAS. P. SHAEFFER. George A. Garrett, local represent- ative of the stock brokerage firm of F. B. Keech & Co., was today elected a member of the Washington Stock Exchange. The seat was purchased in his own _interest Mr. Garrett has been an a financial aff. 2 years, the majority of wh was spent in the brokerag, on. He was formerly a vice presi- dent of the Dupont National Bank, but in 1915 severed this connection to enter his present field. He will re- tain his affiliation with Keech, who maintains besides the local branch, oftices in New York, Providence and Boston. h time profes- Huge Treasury Operations. Operations of the LUnited States Treasury today will involve more than $1,000,600.000. Disbursements will include interest on the natio debt tion of short term m receipts will consist of the staliment of incom tax and the proceeds of the recent sa sury certificates of redemption, dated as of today Officials estimate about $250,000,000 { will be rec ed in tax payvments and mately $300,000,000 will be to the Government from tha e of certif] On the other hand, $377,000,000 wi}} be disbursed in maturing the Trea: ury per cent notes, $58,000,008 will be paid as interest on the th 5 4% per cent Liberty loan nd $65.000,000 is due as interest om Treasury note: Thus income, as calculated on thh basis of $300,000,000 as the amount, of new certificates allotted, will total 1$530,000,000, with an expenditure total 00,000, resulting in a grand third in- of $500, turnover of $1,050,000,000. Allotments to the re | fiotation totaled exact but a proportion of met by exchangi allotmant ve $300,000,000. ent Treasury been estimated Better Banking Service Aim. Betterment of various types of bank- ing serv to the public will be a main | theme at the meetings of the div and sections of the American B ociation to be held at the fifti of the organi first of the vhich will be m. Monda Toom of the headquarters. same day the me 1 r bank section will be called to order at clock in the same place. On Mon- fternoon will also be held a con- ferenec for clearing house examin managers in the gold room at 2 o'clock. In the afternoon of the following day eccretaries section mee led to order at 2 o'clock in rose room, and at 2:30 o'clock the sam« ay the meeting of the State bank divi- sion will be held. On Wednesday <'clock the divisional trust meeting will b company section, d to order at 9:30 September 29, in the gold s on fternoon of t g of t v afternoon at 2:30 national bank division will be called o order in the gold room, and at 2:15 the same day bank auditors will hold their com- On Thursday afternoon at 0 o'clock the clearmg house sec- on will again meet. Wilbur J. Waller, vic the Federal-American 1 vice president of the American Bankers' Assoc on of the District of Columbia, will attend the ssions, as will Joshua Evans, jr., and Ray- mond G. Marx of Rizgs National Bank. - Women Name Officers. Woman members of the Washing- ton Chapter, American Institute of Banking. have organized for the im- pending vear's work as follow Lois A. White, chairman; Mis ence M. Wille 2 Laila S Royee. Catherine Mitchell, governors. ’ Plans for the resumption of femi- hine activity for the year were dis cussed and details perfected. It is understood that no active campaign such as was waged last year will be conducted, as it is the feeling of members of the committee that female bank employes here are align- ed with the institute in well nigh perfect array. Local Stocfs Quiet. Issues were fairly quiet on the Washington Stock Exchange this morning, but previous strength was evidenced. National Mortzage and Investment preferred sold to the extent of 100 shares at 9%. Wwith two shares of ¥ preferred selling at 76%. Riggs Bank stock brough 301, and Mergenthaler Linotype, 157%. Gas was strong at 51 at the opening, but eased off to 50% as the session closed. Norfolk and Washington Steamboat stock sold at 214. i Personal Mention. | Robert V. Fleming and William J. Flather, vice presidents of Riggs National Bank, returned from vaca- tions today. DAIRY PRODUCTS. BALTIMORE, September 15 (Spe- cial).—Live poultry—Spring chickens, 1b., 5a32; Leghorns, 24a28. hens, 18: Leghorns roosters, 15al16. Ducks, Pigeons, pair, 20a25. Guinea fowl, each, 60a: sggs—Native and nearby firsts, free cases, dozen sales, 38;"receipts, 405 cases. Butter—Creamery, good to fancy, 1., 37a4 prints, 40a4. nearby creamery, a37; ladles, 30a32; store- packed, 26%; process butter, 34a35. RAW SILK TUMBLES. NEW YORK, September 15 (Spe- cial).—Rather sharp declines accom- panied the opening of the raw silk markets today, prices declining 15 cents on Japanese silks and 5 on Cantons. Cotton goods markets were quiet, with prices mostly unchanged. Print cloths again were quoted at 8% cents for 64 by 60s and 9% cents for 68 by 72s. RATES ON BAR SILVER. LONDON, September 15.—Bar silver, 34 13-16 d per ounce. Money, 2% per cent. 22 Discount rates—Short bills, 3 11-16a3% per cent; three-month bills, 3%a 3 13-16 per cent. "©— ALCOHOL PRICES UP. NEW YORK, September 15.—All grades of pure and denatured alcohol have been advanced 3 cents a gallon by the United States Independent Al- cohol Company. ” APPLES_SELL BETTER. NEW _YORK, September 15 (Spe- cial).—The appie market ruled steady today with demand moderately ac- tive. A grade 2%-inch duchess ranged from 3.50 to 4.00 per barrel, and “A” grade 3-inch Alexanders brought 4.50 per barrel. Pears sold fairly well at 2.00 to 2.50. Grapes were not in much demand and re- mained unchanged in prices,