Evening Star Newspaper, September 24, 1924, Page 26

FINANCIAL. ADVANGE RESUMED THE EVENING STAR, WASHINGTON, D C, WEDNESDAY, SEPTEMBER 24, 1924 : NEW YORK STOCK EXCHANGE | | OVES IRREGULAR | Coxzew voe BONDS oo sxeuance] | (TTON FUTURES Received by Private Wire Direct to The Star Office Received by Private Wire Direct te The Star Of (Bales are in $1,000.) RAILROADS FINANCIAL, NAMES COMMITTEE Open. High. Low. Open. High. Low. Close. N STOCK MARKET Southern Railroad Shares { Very Strong Following & Jump in Cotton. BY STUART P. WEST. Speeial Dispatels to The Star. NEW YORK, September advance was resumed on the stock cxchange today, with well sustained activity and a broader scale of op- erations There were few ETOUDS which did not participate, although as prices went higher an increasing volume of realizing sales was en- countered Tuesday's jump of $10 a bale in cotton was reflected in the market for shares of Southern carriers. Southern Railway comamon was the leader, and the ease with which this stock went forward was remarkable. Ex-dividend, it had sold the day be- fore around 67. Today it swept for- ward to around 70. Seahoard Air ine preferred crossed 28, and Atlantic Coast Line was well up to its top figure. St. Louis Southwestern com- Tepresenting the ‘“cotton _belt was naturally affected. Esti- of $10 a share to be earned this year were strengthened by the turn for the better in cotton prices. 24.—The New York Central Strong. Among the other rails New York Central got above 109 for the first time in quite a while. Buying of a semi-investment character was noted in Canadian Pacific, and Union Pacific vrossed 141 in response to the favor- able statement of earnings for Au- Zust put out Tuesday. At its high Worthington Pump up 18 points within little more than a week. There were rumors of Gen- eral lectric buying. Also, it was said, that the same interests which had been so successful in Cast Iron Pipe were back of the Worthington move Philadelphia Company crossed 5 and the buying of United Railwa: investment issues was quite urgent The move in these stocks was the more remarkable in view of the fact that Philadelphia Company’'s August ecarnings were not good. They show ed a decrease of $164,000 in gross and $109,000 in net from the month last year. - United Railways Invest ment owns a controlling interest in Yhiladelphia Company and would naturally move mpathetically. But the n t plausible explanation is that progress is being made for the sale of the company's properties in the | City of San Francisco and advance in the U. R. stocks that the drawing Philadelphia Company along despite its unsatisfactory earnings. Selling In the tobacco group 1t rather look- ©d as if the sharp upbidding of Phil- lip Morris above 16 was designed to cover realizing sales in other of the tobacco shares which have recently been advancing Pools operating in specialties were again very active. The advance in the American’ Linseeds was accompanied by reports of improved conditions in that industry. American Chicle rade a new high when it reached 31 and Texas Gulf Sulphur when it sold above 81, Talk of an increase from the present dividend of §2 attended opera- tions for the rise in Corn Products The run-up in National Lead was to be ~et down to the covering of shorts put out some time ago on reports that had fallen off NEW YORK, September Street features. that the in Tobacco Shares. 24.—Wall Worthington Pamps Soars. A fairly sensational advance in Worthington Pump to much the high- est it has sold this vear was a fea- ture of the industrial specialties. It is rumored that one of the most ac- tive men in the speculative commun- ity has been operating in Worthing- ton. On its regular line of business the company, it is calculated, will earn only $2 a share in 1924, It lost money in 921 and 1922, and earned $5 in 1 The profits in_ 1925 are expected to be derived chiefly from two new sources, namely, Diezel engines for marine and land use, and patented locomotive feed water heat- ers for new railway power equip- ment. Texas Gulf Sulphur at New Top. The advance in Texas Gulf Sulphur to its highest for the year suggested the possibility of further favorable developments in this company's af- fairs. Recently the regular dividend was increased to $7 a share. The distribution had previously been $6 annually with extra disbursements from time to time. Now it is pre- dicted that before the current yi is out Texas Gulf will declare an- other extra. There is no idea of the regular rate being increased. United Drug has shown unusual ac- tivity and strength in the past sev- eral days. Its rise has been helped by a speculative clique, but seems to have sufficient basis in the earnings and dividend possibilities. Drug is paying $6 and earnings at least $10. An increase in the regular rate to §7 is looked for. It is said that an es- tate of 40,000 shares has been thor- oughly liquidated. MAREET CLOSES STRONG. Railroad Shares in Brisk Demand in Last Hour. By the Associated Press. NEW YORK, September 24—A broad upward movement of prices took in today's stock market under the leadership of the rails and pub- lic utilities. Active short covering stimulated the advance, but there was good buying for the long account on favorable merger, dividend and trade reports. Sales approximated 1,000,000 shares. The closing was strong. Railroad shares were in brisk demand in the final dealings, when a number of pop- ular industrials and specialties sold at 1924 record prices. Markets at a Glance NEW YORK.—Stocks strong: rails and public utilities lead advance. Bonds firm; Brooklyn Union Gas is- sues at new tops. Foreign exchanges steady; sterling moves up. Cotton Southern hedge selling. Sugar higher; firm spot market. Coffee firm: bullish crop accounts. CHICAGO.—Wheat _easy: larger country offerings. Corn weak; favor- able crop reports. Cattle firm. Hogs steady; active demand. EXPORTS VERY HEAVY; IMPORTS ARE DOUBLED Special Dispatch to The Star. BALTIMORE, September 24. — Ex- ports to foreign markets during last week took a big jump, according to customs reports. lImports were vir- tually doubled. The total exports for the week amounted to $2,371,643, as compared with $1,169.105 in dutiable and free imports. They included grain, flour, copper, com starch, tobacco, coal, steel, glucose and lubricating oils. The 'dutiable imports amounted to $346,940, while the free list amounted to $822,165. Adams Exp (6).. Alr Reduct (15). Ajax Rubber. Alaska Juneau. Allled Chem (4). Allis-Chalm (4). Allis-C M pf (7). Am Agricul Chm Am Ag Chm pt.. Am BN pt (3) Am Can (16) Am Can pf (1) Am Car & Fy (13 AmC& F pf (7). Am Chain A (2). Am Chicle...... Amer Chicle ctfs Am Chicle pf.... Am Drug Synd.. Am Express (6). Am&F P 25%(7, AmFor P £ pd(7) Am Hide & Lea. Am Ice (7) Am Ice pf (6)... Am Internatl. .. Am Linseed..... Am Linseed pf. . Am Locomo (6). Am Metal (3)... Am Radiator (4) Am Saf R (50c). Am Sm & Re (5). Am Stl Fdys (3). Am Stl F pr (7) Am Sugar. . Am Sumat Tob. . AmT & Tel (9) Am Tobac (12).. AmTob B (12).. Am Tob pt (6).. Am Water Wks. Am W W pf (6).. Am W W 1st (7) Am Woolen...... Am Zinc........ Anaconda ...... Ann Arbor pf.... Arn Cons & Co.. Assets Realizat. Asso Dry G (5). . As DG 1st pf (6). |AtT& S Fe (6). AT&SF pf (5). {Atl Birm & At... Atl Coast L (18). AtGulf& WI... AtGulf & W1 pt Atlantic Refin. .. Atlan Ref pf (7). Austin-Nichols. Bald Loco (7) Bal & Ohio (5). Bal & Oh pf (4 Barnsdall A B'ch Nut (2.40). Bethlehem Steel Beth Stl pf (7).. Beth Stl pf (8).. Brit Emp Steel. . Brk Ecison (8). Brk-Man Tran. . Br Man T pf (6). Brklyn Un G (4). Burns Br B (2). Burns Br (10) Butte C & Zinc. Butte&Superior, Butterick C Cal Packing (6). Cal Pet (1%). Callahan Z Lea Calu & Ariz (2). Can Pacific (10). Cent Leather Co. Cent Lea Co pf.. Cerro de Pasco(4) Certain-Td Prod Cert-Td 1st (7).. Chand Mot (3).. Ches & Ohio (4). Ch & O pf (6%). Chicago & Alton Chic & Alton pf. Chic & East Ill... Chi& EIpt Chic Gt West. Chic Gt West pf. Ch Mil & St Paul Ch Mil & St P pt. Chi & Nwn (4).. ChiRI& Pac... CRI&Ppt (6). |CRI&PpDL (D). Chi Yellow C (4) Chile Cop (2%) Cluett, Peab (5). Coca-Cola (1)..- Colo Fuel & Iron Colo * tuthérn. .. Col So 1st pf (4). Col G & E (2.60). Col Carbon (4).. Com Ir Tr (63c). Com Solv A (4). Com Solv B..... Congoleum (3). Consol Cigar. Consol Gas (5).. Con Gas of B (8) vomsol Textile.. Cont Can (4). Cont Mot (80c). Corn Prod (2) Cosden Co...... Crucible Sti (4. Crucib Stl pt (7). Cub Am Sug (3). Cu Am Su pf (7). Cub Cane Su pf. Cushmans (3) Cuyamel Fr (4). Daniel Boone. ... Davidson Chem. Del & Hud (9).. Del L& W (6) Det Ed Co (8) Dome Mines ( DuPtdeN (8).. Duq Lt st pf (7). Eastman (17%) .- Eaton Axle & S. El Stor Bat 04). Elk Horn Coal.. End-John (6) Erle.. Erie 18t pt Erie 2d pt.. Exch Buffet (2). Fairb'ks (2.60).. Famous P1 (8)... Famous Pl pf (8) Fed Lt&Tr pf (6) F'dM &S pf (D). Fifth Av B (64c) Fisher Bdy (10). Fisk Rubber...... Fisk Rubber pt. Fleischman (13%) Foundation (6). Freepors-Texas GenAm T C 3). Gen Baking (6). Gen Cigar (8) General Elec Gen El spe (60c) Gen Mot (1.20).. Gen Mot (n)... Gen Mot pf (6).. Gen Mot db (6) .. Gen Mot pf n (7) Gen Petm (2)... Gimbel Bros.... Goodrich....... Goodrich pt (7). Goodyear pf.... Granby Consol. Gray & Davis. .. Gt North pt (5) Gr Nor Ore (3).. Grt Wsta Su (8). Gulf Mo & Nor. . Gu Mo & N pf (5) Gult St Stl (3)... Hayes Wh'l (3) Househ'd Pr (3). Houston Oil Hud Mot C (3).. Hupp Mot C (1). I1linols Cent (7). Indep Oil (1) Inger R (128 Indiahoma Ret Inland St (2%). Interb Rap Tr... Internat Ag new. Int Cement (4).. Int Com Eng (2) Internat Har (5) Inter Har pf (7). Int Mer Mar pf.. Internat Nickel. Internat Paper.. Int Pap pf st (6). Int Ry Cent Am. Int T&T (6).... Intertype (t1%) Invincible Oil... Towa Central..., 87 87 10 1t 87 87 10 1% T4% 634 100 12% 85% 56 142% 3 114% 45% 64k 60% 4T 19% 74 139% 34 68 7 35 264 57 90% 82% 98% 64% 6% 52% 13 49% 129% 140 108 15% 131 107% 110 9% 57% 12% 64% 27% 38% 3% 22% 27% 81% 9% 77 61 11 184% 9% 64% 3 2% % 45 159 90% 264% 1% 15 60% 87% 8% 98 41 59% 28% 84% 64% 19 3% 65 29 88% 18 71 7 86 34% 3% 28% 18% 167 120 24% 33 82 85 5% 120 117 117 Gt West S pt (7). 106% 106% 18 1 4% 36 34% 73% 28% 14% 109% 6% 250 % 36 26% 6% 50% 27% 95% 111% 4l% 18% 48% 3% 15 8% 87 86% 10 1% 74 621 100 12% 35 56 130 114 124% 63% 69% 19% 56% 45% 934 107 2% 116% 244 s 107 5% 165 19% 91 22% 3% 5l 148% 14% 48% 46% 86% 784 87 86% 102% el 1% 28% 43 5% 16% 13t 214 625 843 78% 893 47 2% 57% 5% 44% 89 69% 42% 41 455 64% 59% 47% 19% 3% 139% 3% 67% 7 36 26% 57 904 32% 98% (21 4% 6527 13 49% 128% 139% 108 16% 130% 107% 110 9 b7l 124 643 275 38% 3% 184 9% 64 73 82% 8% 45 152 90 261 11% 15 60% 8% 87% 9% 40% 59% 284 84k 64% 19 3% 65 29 88% 106% 18 71 4% 34% 34% 73 28% 13% 109% 6% 250 % 36 26 6 49% 26% 954 8% 244 107% 5% 163 19% 91 22% 3% 511 148% 14% 48% 461y 39% 784% 874 B5% 102% 4 11 284 43 G 18% 18% 224 634 34% 784 893 47 32% 57% 5% 44% 39 59% 4z% 41% 45% 64% 69% 4T% 21 3% 189% 3% 8% 7 35% 26 574 0% 324 98% 64% Ta% 634 13 504 128% 140% 108% 16% 131% 108 110 9 57% 124 643 27% 38% 38 22% 27% 82 97 77 50% 11% 185 9% 64 73 82% 8% 46 152 90 265% 11% 15 60% 874 87% 9% 0% 60 28% 843 64% 19 3% 65% 29 8% 106% 18 71 % Hartman Co (4). _32%_321% 321 _32% 34% 24% 8 28% 1% 109% 6% 250 % 36 26% 6% 50 2% 954 111%7111% 40% 18% 48% 3 14% 83% 29 13 2k 40% 18% 48% 3% 15 83% 29 13 2% Iron Prod (6)... Jewel Tea.. 4 Jones Bros Tea. . Kan City South. Kan C So pf (4). Kayser Jul & Co. Kelly Spr Tire. . Kelsey, Whi (6) .. Kenne Cop (3) Kinney G R Co Kresgé Dep Str. Laclede Gas (7). Lehigh Vai (3%) Lig & Mvrs (3)... Lig & Myrs B (3) Lima Loco (4)... Loews Inc (2 Loft Incorpor. Loose-Wiles Bis L'se-W 2d pf (1) Lorrillard (3)... Louis & Nash (6) Mack Trucks (6) Mack Trk 1st pd Mack T 1st (7). Muck T 2d (7)... Macy RH & Co.. Magma Cepper. . Mallinson & Co Man EI Sup (4).. Man El md gd 4. Manhat-Shirt (3) Manjl E1 Co (8). Mkt St Ry prpf. Marland Oil.. ... Marlin Rockwell Mathleson Alka. Maxwell Mot A.. Maxwell Mot B.. May Dept St (5). Metro Gold pfd. . Mex Seabd (2).. Miami Cop (2). Middle StOil.... Midld Prpf (8).. Minn & St Louis. Mis Kan & Tex Mis K & Tex pf.. Missourl Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Mullins Body... Nash Mot (10) Nat Acme... . Nat Biscuit (3).. at Dairy (3). Nat En & St. at Lead (8) at Supply (3). ev Cons Cop. NYAirBr(4)... N Y Canners (2). N Y Central (7). N Y C&StL (6). YC&StL pf (6) ¥ Dock . YNH & N Y Ont & W, N Y Stea pf (7).. Norf & W (18).. Norf & W pf (4). orth Am (2.40) orth Am pf (3) North Pac (8). .- Otis Elev (n) (4) Otis Elev pf (6). Otis Steel. .. . Otis Steel pf. . Uwens Bot (3).. Pacific Develop. PacG&E (8)... Pacific Oil (2)... Packard (1.20).. Packard pf (7).. Pan-Amer (4).. Pan-Amer B (4). PennC & C (4).. Penn Railrd (3) Penn Seab Steel. Peop Gas Ch (7). Peoria & East... Pere Marq (4). Pere Mar pf (5). Pere M pr pf (5). Phila Co (4). Phila Co pf (3).. Phila&R&I... Phil Mor (50c) Phillips Pet (2). Pierce-Arrow... Picrce-Arrow pt Pierce Oil g Pierce Oil pt. Pitts Coal (4)... Pitts Coal pf (6). Pitts Ut pt (1.20) Pitts Ut ctfs 1.20 Pitts & West Va. Pitts & WVarts. P& W Va pf (6). Postum Cer (4). Press Steel Car. Press Steel C pf. Prod & Refiners. Pub Ser NJ (4). Public Serv rts.. Pub S NJ pt (8). Puilman Co (8). Punta Al Su (3). Pure Oil (1%)... Ry St1 Spg (8)... Ry StSgpt (7).. Ray Cons Cop. .. Reading (4. Reading rts..... Read 1st pf (2).. Reis Robert..... Remington Type Replogle Steel Rep Ir & Steel. .. Reyn'ds Spgs (1) Rey TobB (3)... Roy Dth (4.42%) Rutland pf...... St Joseph Ld (2) St L San Fran... St L-San Fr pt St L Southwest.. StLSthpf (5).. T chulte (8) Seaboard A hell Un Oll (1). Shell Un pf (6).. Simmons Co (1). Simms Pet...... Sinclair Ol Skelly Oil . Sloss-Sheff (6).. South Pac (6)... Southern Ry (5) South Ry pf (5). Spicer Mg...... Std Gas & El (3). St 01l Cal (2).... StOilNJ (1).... St OfLN J pt (7). Stand P1G1 3).. Sterling Pr (4).. Stew’t Warn (). Stromberg C (8). Studebaker (4).. Submarine Boat. Superior Oll.... Sweets Co of Am Tennessee Copper Texas Co (3).... Tex G Sulph (7) Texas & Pacific.. Tex & Pac C&O. Timken (13%). Tob Prod (6).... Tob Prod A (7).. Transcont Oil... Underwood (3) . Un Bag & Paper. Un Pacific (10).. Un Pac pf (4)... Un Tank Car (5) Utd Cigar Stores United Drug (6) Utd Fruit (10) Utd Ry Invest... Utd Ry Invest pf U S CastIronP. USCIP pt (D... U S Distributing U S Distr pf (7). S Hoff Mach. . Ind Alcohol. U 'S Smt pt (3%) U S Steel (16%). U S Steel pf (). Universal Pipe.. Univer P pf (7). Utah Copper (4). Utah Securities. Vanadium Corp. Va-Caro Ch pf. VaRy & Power. 45% 21 17% 214% 55% 18% 18 92 48% 80 524 99% 58t 64% 64 1% 16% 6la 2% 95% 39 98 100% 4715 - 104 96 67 41 9 4% 2% % 40% 80% 37% 8% 34% 67% 92% P 38% a1 141% 4% 126 58% 92 209% 20 47% 109% 96% 28% 115 224 3% 94 102 35% 88% 32% 44y 109 122% 185% 57% % 86 26% 4% 6% 45H 21 1% 21% 66% 18% 18 2% 481 80% b2% 99% 68% 64% 64w 2% 954 39 98% 101% 47% 45% 21 1% 20% 65% 18% 17% 92 47% 80 524 99% 45% 21 17% 204 65% 18% 18 9224 4% IN BOND MARKET Liberties in Small Gains. High-Grade Railroad Issues Firm, But Quiet. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 24.—More irregularity was evident in the bond market today than on either Monday or Tuesday. Liberties recovered some- what from the reaction of® Tuesday, but trading was on a small scale. To- day's prices are still well above the close of last week. The high-grade savings bank railroad mortgages were firm, but inquiry was not as per- sistent as on Tuesday. . Canadian Pacific 4s were fraction- ally higher, and Norfolk and Western 4s sold above 90. while among utili- ties American Telegraph and Tele- phone debenture 51:s crossed 103 for a new high. Wentern Rails Active. The speculative movement in Mis- souri Pacific bonds made further Progress today. The general 4s were taken in large volume at 63, a new high price on this advance, and there was continued strength in the 58 of 1965 and in the 6s of 1949. Next in importance to the activity in the Missouri Pacific list was the buying of Denver and Rio Grande refunding 5. No explanation was forthcoming for this sudden display of interest. St. Louis and San Francisco adjust- ments and incomes made small gains, as the time approached for interest disbursements on October 1. Chicago Great Western 4s came with a half point of the record for 1 Wick- wire Spencer Steel 7s were notably | strong among industrials, getting up to 74. United Fuel Gas 6s made a new high. This is the obligation of a_subsidiary of Columbia Gas and | Electric. Empire Gas and Fuel 7%s were also higher. American Chain | 6s crossed 97. Forelgn List Neglected. The foreign list was comparative- 1y neglected. French bonds appeared heavy. Bolivia 8s hung around their recent low. The new Belgian 6%s were again in demand above 97. Tod: new issues included $3.531.000 Arkansas and Memphis Railway Bridge & Term- inal s due 1964 to vield 5.45 per cent and $1.500,000 Montgomery Ward warehouse first 5ls due serially to yield from 4.75 to 5.50 per cent. News that the New York State is- sue of $12,500,000 4 per cent serial bonds has been awarded to a banking syndicate on a per cent basis w regarded in bond circles as testifying not only to the ease in money market but to the demand which still exists for tax-exempt issues. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) —Noon. — Offer. Aluminum Co. of Amer. | Aluminum Co. of Amer. American Sugar 6s 193 American Tel & Tel. #e | Associated Oil 6s 19 Bell Tel. o Cunadian Central of D Pont Federal Fisher Body Corp. s Fisher Body Corp. fs Goodyear T. & R. 8 1931 Kennecott Copper M. St Swift & C Tidewater Oil #los 1031 T'nion S. Rubber stern Union Glys 1936 Westinghonse K. & M. 7s 1031 Wheeling Steel 6x 1926. 1003, *Called November 1 19248t 106 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) Noon, Offer. 100318 o0 101 101 Bid, 100 100 1 100 11 101116 o S 100 101 23.3 102 318 D101818 101 11 102916 1924... 23 September 1. 33 December 4%s March 15, 1 415 September 4% Mared 15, 438 December 16 16 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks Fold value. today. Tondon, pound . . 45885 Paris. franc S Brussels, franc Berlin, mark Athens, Madrid, peseta Vienoa. crown Rudapest. crown Prague. crown W zloty Copenhagen, croxn Christiania, crown Stockholm,” crown . By the Associted Pre NEW YORK, eign exchanges irregular. tions (in United Stat. Great Britain, demand, 4.4 ; 60-day bills on banks, 4.43%. demand, .05284; cables, Italy, demand, .04381; cables, Belgium, demand, .0481%%; ca- bles, .0482. Germany, demand (per trillion), .23%. Holland, demand, .3856. Norway, demand, .1389. Sweden, de- mand, .2659. Denmark, demand, .1723. Switzerland, demand, .1898. Spain, demand, .1326. Greece, demand, .0179. Poland, demand, .19%. Czechoslo- vakia, ~demand, .0299%., Jugoslavia, demand, .0141. Austria, demand, .000014%. Rumania, demand, .0050; Argentina, demand, .3565. Brazil, de- mand, .1065. Toklo, demand, .40%. Montreal, 1.00, September Quota- dollars BUTTER LOWER TODAY. CHICAGO, September 24.—Butter lower; creamery extras, 35%: stand- ards, ' 34; extra firsts, 33%a34%; firsts, 3134a321%; seconds, 30a30%. Eggs unchanged; receipts, 5,667 cases. 8% 16 44 16 435 9% 11% 19% 24% 2% 115 94% 63% 13% 23% 23% 6 1% 5% 84 69 % 12 11 9% 16 44% 16% 44 93 124 20% 24% 2% 116 95 64 13% 24 23% 66 1% 6 8% vivadou. . Wabdsh. B Wabash pfA.... Web & Heilb(1). Wells Far (2%). West Pen (4)... West Maryland. West Md 2d pt... Western Pacific. West Pac pf (6). West Up T1 (7).. West Alr Br (6). West E& M (4). Whi & L Erle.... Wh Eag Oll (2). Wheel & LE pt. White Mot (4)... Wickwire Sp 8tl. Wilson & Co. Willys-Overl'd Willys-Ovd pf... ‘Woolw'th n (3) Worthing P'mp. 44% 47% W'thP pfA(7). 8 8 W'th P pt B (6).. #70% 72 1% Yellow Cab (5) 63% b53% b62W 63 8% 15% 43% 16 43% 91 1% 19% 23% 2% 115 94% 63% 13% 23% 23% 4% 1% 5% 8% 69 112 48% 84% 70% 9% 16% 44% 16% 44 92% 12% 20 24 2% 115 % 64 13% 24 23% 66 1% 6 8% 69% 112 46% 84% Youngst S&T (4). 67% 67% 67% 67% {Partly extra. $Payable in rred stock. Dividend rates as given in above table are the annua! cash payments based on the latest quarterly or balf-yearly deciarations. Unless otherwise noted, ecxtra e special gividends are aet e UNITED STATES BONDS. thirty - seconds. (Fractions represent Exam] -3 means 98 3-32.) ple: Bale Lib3%s...... Lb 1s-2d 4%s. Lib 2d 4». Lib1at 4%s... High. Low. Close. 10 100-28 100+27 100-27 3 101-16 101-16 101=16 1 101-14 101-14 101-14 43 102-14 102-12 102-18 Lib2d 4%s... 393 101-18 101-12 101-17 Lib3d 4%s. Lib 4th 43 US4%s1952.. FOREIGN. Sales. High. Belgium 7%s Belgium Bolivia 8 Brazil 7s Canada 6s 1926 Canada 5s 1931 Canada 6s 1953 Canada 5%s 1929 Chlle 75 1943. Chile 85 1926. Chile 851941, Chile 88 1946, Christianta . openhagen 5%s.. Cuba 6% e Czecho 8s 1951 “zecho 88 1952 ct. Danish Munic 8s B. Denmark 6s Denmark 8s Dutch ET6% DEIb%sct.... Dutch East I 68 47 Dutch East I 6562 El Salvador 85 *48.. Framerican 7%s French Govt 7 French Govt 8s. Haitl 6s..... Holland-Ame: Hungary 614s Italy 6%s 1926. ... Japanese 1st 4%4s. . Japanese 6%s - Jergens U M 63 47. | Lyons 6s = Marseille . Mexico 4s '10 asntd. Mexico bs assented Montevideo 7s. Netheriands 63 '54.120 Netherlands 6s Norway 6s 1343 Norway 68 1944 Norway 6s 1952 Norway 83 Paris-Ly's-Med 6s. Prague 7%s. g Rio de Jan 8s . Rio de Jan 8s 1947. Rio Gr Do Sul 8 0 Paulo City 8s.. o Paulo State 8s. ine Dept. of 7s. . Serbs Crotes Slo 83 Soissons 63 Swiss 5%8 1946 Swiss Confed 8. Toklo 53 = Ud Kingm 5%s "29. . 8l 1 Ud Kingm 5%s'37. 76 Ud Steam Copen 63 Uruguay 8s....... Ajax Rubber Am Agr Chem 53 Am Agr Chem 7%s Am Chain s f 6s°33. Am Repub deb 6s. . Am Smit&R 1st bs. Am Sug ref 6 AmT& Tl t Am T&T cl tr b AmT& T deb 5%s.1 AmT&Tcv6s. ... Am Water Wks 5s. 1 5 79 20 Anaconda 1st 6s... 84 Anaconda cv db 7s Armour & Co 4%s. Armour of Del 5148 Associated Oil 6s.. Atlantic Refin 5s. . Bell Tel Pabs..... Beth Steel 5%s '53. Beth Steel s 6 . Brier H St 1st 5%s. Bklyn Ed gen 58. Bklyn Edison 7s D. Bklyn Union G 5s.. Bush T Bldg 53 '60. Calif Pete 6%s.... Central Leather 58 Chile Copper 6 CinG & E5%s'62. Col Gas & El 58 Col Gas & El 5s sta Commonwth P 6s.. Con Coal Md Ist 5s. Consumers Pow 53 Cuba Cane cv 7530 Cuba Cane cvd 8s. Denver Gas b Dery {DG) Ts..... Du Pontde N 7%s. Dugquesne Light 63 Est Cuba Sug 7%s. Empire G&F T%s. Fisk Rubber. ¢ Francis Sug 7%s.. Gen Elec deb 5s... Goodrich 6%8. ... Goodyear 83 1931.. Goodyear 88 1941.. Hershey 63 1942. Humble O&R 5%s. Illinois Bell 1st 6s. Illinois Steel 4%s. Indiana Steel bs. .. Int Mer Marine 6s. Inter Paper 58°47. KCP&Lt5sA'S2 Kan G & El 63°'52... Kelly-Spring 8s Lackawa S 58 '50.. Liggett & Myrs 5s. Lorillard (P) s Lorillard (P) 78. Magma Cop cv 7' Manati Sug sf 7%s Marland Oil 7%s. . Marland Oil 8s'3 Mexican Petrol 8s. Midvale Steel 5s. ... Montana Power 58 Mor's&Co 1st 4%3. Nat Tube 1st s ew Eng Te! :! Eden 1st 6%s. 1 NYG EL H&P 43 NY Tel 4% N Y Tel 68’41 North Am Ed 6 North Am Ed 6%s Nor States Pow Nor States Pow 6s. Northwst B Tel 7 Pacific Gas & El 63 Pac Tel & Tel 5s. Pacific T & T 55 '62 Pan-Amer Pete 7s. Phila Co 5%5 38 Phila. Co ref 68 Ehi: & Rdg Cé erce- Pierce Oil deb 83 Public Service 58.. Pub Serv Elec 6 Funta Alegre 7s.... stecl 8 1 B U h Pow & Lt Va-Car Chiem 7 va-Car Ch %8 Vertientes Sug 7s. Warner Sug 75 '39. Wickwire Spen 7s. Willys-Ov 6%s'33. Wilson & Co st ¢s. Wilson & Co cv 6s. Wilson&C ¢v 7%s.. Zoupsma S & T 6. ) crnmoSBonne SuarSarwniioanmnns 20 @ I 14 10 5 03 10 10 9 10 26 17 4 93% 102% 94% 100% 7% 1104% 108 93% 88% R2% 102% 97 101% 101% 103% 204 10247 102-56 102-6 716 102-21 102-15 102-19 60 105-28 10524 105-28 Low. Close. 93% 101% 94% 100% 7% 109% 107% 2% 88% 82% 102% 6% 101% 101% 103% 103% 97% 103% 105 105% 110 95% 964 100% 100 109 100% 111% 90 89% 95 95% 82% 82 8% 88% 19 34 90% 997 96% 98% 98 98% 113% 811 90% 854 " 95% 974 101'% 9415 &9 874 98% 114% 6445 110 105% 92 § 106% MISCELLANEOUS. 93% 994y 967 93% 99"y 96% 97 92'% 94% 100 08! 101% 102% 120 2 93% 102% 4% 100% 9% 110% 108 92% 88% 82% 102% 97 101% 101% 103% 104% 97% 103% 105 106% 110 96% 964 100% 100 109 100% 1% 90 89% 96% 9514 103% 95% 103% 107 Sales. High. 1 83% 28 90% 91 100% 87% 894 85% 103% 100% 84w 9% 80% 85% 101% 117% Atchison adj 4s. Atchison gen 4s. .. Atlantic CL 1st 4s. B&Oprin3%s... B & O SW div 3%s. Bklyn-Manhat 6; Buff R & Pitt 4%s. Canada South 58 Canad North 6%: Canada North 7; Canad Pac deb 4 Car Clinch & O 6; Cent of Ga 5%s. Central Pacific 4 Ches & O cv 4%s. Ches & O gn 4%s Ches & Ohio cv b Chi & Alton 3% Chi B&Q gn 4s°'58. Chi B&Q 18t rf 6s. CB&Q-Ill 3%s. C B & Q-Tll div 4 Chi & E 11 gn bs. Chi Great West 2 CM & Puget Sd 4s. 3 ChiM& St P 4s°25 90 CM&StPdb4s... 31 Chi M&St P cv 4348 12 CM&StPgn4ks. 3 Chi M&St P rf 4%4s. 25 ChiM & St P cv bs. 26 PR ovensSataail-on o ® o Chi& N W ref 6s.. 37 Chi& NW s Chi Rys bs. Chi StP M&O cn 6s. Chi Unlon Sta 6s. Chi Un Sta 6% Chi & W Ind cn 4s. Chi & W Ind 7% CCC&StLSs..... CCC&StLrfésA. Cleve Term 5s w i. Cleve Term 6% Colo & Sou 4% CubaRR T%s 21 Den & Rio G cn 4s. 175 D & Rio G imp 65..103 D&RG Istrt5s... 63 Des M&FtD 4s 3 Erie 1st con ¢s.. 17 Eric gen 4s. 63 Erte conv 4s B. 7 Erie conv 4s D 68 Erie cop ext 78 1 Gr Trunk ef db 6s.. 14 Grand Trunk 7s... 1 Great North bs.... 211 Gr North gen 5%3. Gr North gen 7s. .. Havana ERL&P 55 Hud & Man ref bs.. Hud & Man aj 6s.. Ill Central 5%s. Int Rap Tran bs. .. Int Rap Tr bs stpd. Int Rap Tran 7s... Int & G Nor aj 6. Towa Cent 1st 6. Kan City Ft S 4s Kansas City S 3. Kansas City Kan City Term 4 Lake Shore 45 28 Lake Shore 45 31. Louis & Nash 7s Manhat Ry cn 4s.. Market St Ry 7s. Mil E1 Ry & L 58 M&StLrtfexbs. MK&T st 43 MK&T4sB MK & T adj 58 MK&TprinbsA. 63 MK&T6sC Mo Pacific gn Mo Pacific 5 Mo Pacific 68 Montrl Tm 1st 6 Nassau E Ry 4s ‘57 51 wOr Term 4s... 5 OTex&M inSs. 9 Y Cent cn 4s°98.. 11 Y Cent deb 4s. 3 Y Centrlibs 18 yCent deb 22 Y CenIgScl3 1 Y Chi& SL5%s. 51 YC&StL6sA.. 10 ew Havencd 6s.. 12 ew Haven 78 «w Haven 7s fr Y Ry rf 4s ctfs Y State Ry 4 Y W & Ros 4148. 3 orfolk & W cn 4s. 36 orfolk & Wcv6s. 5 orthern Pac 3s. 8 orthern Pac 4s... 14 orthern Pac 149 Northern Pacr{6s 13 Ore & Calif 1st bs.. 2 Ore-Wash 1strfds 1 Ore Sht Lcn 58 '46..10 Pennsyl gen 4%s.. 30 Pennsyl gen 6s.... 15 Pennsyl 6%3 Pennsyl gold Perc Marq 1st It PCC&StL5sA.. 1 Reading gen 4 Reading gn 4%s Rio G West 1st 4 Rio G West cl 4s. RIArk & L 4%s.. St L IM&S 4829 St LIM&S R&G 4 StL&SFplésA StL&SFprinbs StL&SF5%sD. StL&S F adj 68 StL&SFinc6s. StL&SFplésC StL S W 1st 4s. St LS W con 4s'32. 30 StP UnDep 6% San A& Arn P 4 Seab'd A L 4s sta.. Seab'd A L ref 4: Seab'd A L ad) 5 Seab'd A Licon 6s.. 39 Sou Pacific 43'29.. 41 Sou Pacific ref 4s.. 20 Southern Ry gn 45.170 Southern Ry 1stbs 8 Southern Ry 6sct. 7 Southern Ry 6%s.. 7 Term Asso St L 4s. 16 Third Ave ref 4s... 4 Third Ave adj 30 Tol StL& W 4s 8 Union Pac 18t 4s. Union Pac 1st rf 4s Union Pac 48°27... Union Pacific cv 68. Virginia Ry st6s . 15 Va Ry & P 1st5s... 21 Wabash 1st bs 0 Wabash 2d bs 13 Western Md 2 ‘Western Pacific b 1 West Shore 1st 4s. 30 Wisconstn Cent 4s. 16 RATES ON BAR SILVER. LONDON, September 24—Bar sil- ver, 35 pence per ounce. Money, 3% per cent. Discount rates—Short bills, 33 per cent; three-month bills, 3% per cent. NEW YORK, September 24—Bar silver, 69%. Mexican dollars, 53%. REFINED SUGAR LOWER. SAN FRANCISCO, Sepetmber 24— Refined sugar to the wholesalers de- clined 15 cents a cental today, mak- ing the new cane base $7.60 and the new beet base $7.40. TODAY'S METAL PRICES. NEW YORK, September 24.—Copper, quiet. Electrolytic, spot and nearby, 13; futures, 13a13%. Tin, firm; spot and futures, 47.25. Iron, steady and unchanged. Lead, steady; spot, 8.00. Zine, steady; East St. Louls, spot and & & & 3 18 38 98 90 4% 101 102% 106% 83% 57 50% 83 92% £97% 9915 104% $5% 94 100% 9274 (13 0% 83 81% 87% 9914 105% 96 95% 100% 93% 64% 90% 84 82 futures, 6.10. Antimony, spot, 11.25. NEW YORK EGG PRICES. NEW YORK, September 24.—Eggs, frregular; receipts, 24,504 cases. Pacific Coast whites, firsts to extra firsts, 53a61. | four-eighth basket. 60a LOSE PART OF RISE Drop of Half Cent at Opening Today Follows Wild Ad- vance Yesterday. By the Amociated Press, NEW YORK, September 24 —The cotton market lost about half a cent of yesterday’s excited advance in to- day's early trading. The opening was easy at a decline of 26 to 31 points. Active months showed net losses of 40 to 50 points by the end of the first hour, December declining to 22.78 under realizing and southern hedging. The disposition tc take profits or sell for a reaction was promoted by relatively easy cables, reports of more favorable weather in the South and indications that hedge selling had increased at the higher levels. Private cables said the early ad- vance in Liverpool had been checked by increased offerings of spot. Cotton futures closed steady. High. Low. ¢ 40 Close. 23.50-52 228083 22,8284 2106 211315 % 2325 23.30 Opening—October, 23.72: December, 22.93; January, 22.99; March, 23.32; May, 2345. New Orleans Prices. NEW ORLEANS, September 24— The cotton market experienced an easy opening, due to Liverpool show- ing a loss of about 30 points more than due and to a natural desire to take profits after yesterday's sharp upturn. First trades showed losses of 27 to 33 points and prices eased off some additional after the call until October and December traded 39 to | 42 points down from the previous | close. The market then rallied slight- | 1y and showed a tendency to recover | some, but near the end of the first| half hour of trading prices again | sagged. Octiber trading down to| 22.37 and December to 22.50. Cotton futures closed steady at net decline of 42 to &3 points October GRAIN AND PROVISIONS. | BALTIMORE. Md, (Special).—Pctatoes, 40as. pound Sweet September 24 white, bushel, 7541507 barrel, potatoes, barre), Varrel. 3.30a4.00. | 140, Lima beans, | Bects. per 100, 3002 per 100, 3.00a5.00. 3.0024.00. Celery, | Corn, dozen, 20a 1.50a2 Lettuoe, cra Onions, 100 pounds, Peppers, basket, 40463 basket, 60a6i 6.00a15.00. Tomatoes, Packing stock, Carrots, per 100, al ach, 100 basket. | 50a70. bushel, 1.15a | Apples, barrel, al.75. Crab apple: ntaloupes, basket per 100 pounds, 3.50a4.00 1.50a4.50: bushel, Ket. 50275 Dimsons Grapes Peaches el 2.00a3.50 bushel, S04 per 100, $.00a basket, Pears, 1.00a1 { basket, 3 | Watermelons, Settling Prices on Gram. Wheat—No. 2, red Winter, spot 1.45%; No. 2, red Winter, garlic 1.40: No. 3. red Winter, garlicky, L37, | Sales—60S bushels of No. 2, red Winter, _garlicky, at 1.39; 1,600/ bushels No. 3, red Winter, garlicky, | at 1.36 i Corn—Cob, old yellow, 650 per bar- | rel: old white, 6.35 per barrel; track | corn, yellow, No. 2, 1.32 Sales—Bag lots of nearby at wharf at 1.13; 1,500 bushels, No. 3, white, at 1.15. Oats—No. 2, new, 561 per bushel; No. 3. per bushel Rye—Nearby, 1.00a1.05; No. 2, spot, 1.201% Hay—Receipts, %6 tons. The mar- ket demand prevailing for hay is cen- tered on top grades of timothy. Re- ceipts of new hay generally are ample for present trade wants and the movement for weedy and grassy hay | is very slow: ordinary grades of | clover mixed and clover hay corre- spondingly cheap Quotations today: rye, No. 1 timothy, No. 2 timothy, 15.00a19.00; No. timothy, 16.00a17.00; No. 1 light clover mixed, 17.50a18.00; No. 1 er mixed, 16.50a17.00. raw—No. 1, wheat, new, 13.00; No. 1, new, 13.00a14.00, 12.00a . CHICAGO GRAIN PRICES. CHICAGO, September 24.—Liberal new export business in rye led to a fresh upturn in all grain prices to- day after a weak start. A wave of buying swept over the various cereal pits as soon as the fact developed that European demand for rye was unabated. In the wheat trade, how ever, there was free selling at first on the part of commission houses, largely of a profit-taking character. The wheat opening, which ranged from half cent lower to % gain, with December 1.34% to 135 and May 41 to 141, was followed by a moderate general decline and then by a sharp advance tq well above yesterday's| finish. | Favorable weather eased down corn and oats until rve and wheat be- me strong. After opening at 1% lower to % advance, December 105% to 105%, the corn market underwent a sag all around, but then showed gains. Oats started at % off to 3% up, De- cember 5113 to 51%. Later all de- liveries showed something of a sc back and then scored an advance. Provisions went higher with grain. WHEAT— Open. High Tow. Close. 132 131% 1314 134y 1345 1341 141 1307 130y . 110 1073 L 105% 10213 L04% | 4710 %, September . 1.07% 1 10415 OATS - September . December May . R September . October 2 November ... BUYS WEST VIRGINIA PLANT.| ‘W YORK, September 24.—The West Penn Company, subsidiary of the American Water Works and Electric Company, has acquired the properties | of the Buckhannon Light and Water Company of Buckhannon, W. Va. which eventually will be conn ed te the West Penn system by a high vol- tage transmission line. PARIS MARKET FIRM. PARIS, September 24.—Prices were | firm on the Bourse today. Three per cent rentes, 52 francs 45 centimes. Exchange on London, §4 francs 50 centimes. Five per cent loan, 66 francs 15 centimes. The dollar was quoted at 18 francs 941 centimes. CALL MONEY STEADY, NEW YORK, September 24.Call money, steady: high, 2; low, 2; ruling rate, 2; closing bid, 2; offered at 21 ; last loan, 2; call lonas against a ceptances, 1%. Time loans easy; mix- ed collateral, 60-90 days, 2%a2%; 4-6 months, 3a3%; prime ‘commercial paper, 3%. :l-_v Joseph D. | same as delivered by Mr. i the railroads in 19 10 PROTECT BANKS Deyber Selects Members of Local Association—Other Financial Briefs. BY CHAS. P. SHAEFFER. Washington banking institutions will be subjected to the mintmum number of risks during the adminis- tration of Victor B. Deyber, presi- dent of the District Bankers Asso- clation. This became known this morning when that official made pub- lic the personnel of the protective committee of the association whicn will serve during 1924-25. Harry V. Haynes, past president of the association and the executive who put into operation the plan which is now working with remark- able success, heads the committee and s assisted by the following F. G. Addison, jr.; Charles J. Bell, Wade H. Cooper, John B. Cochran, Robert V. Fleming, Howard Moran W. W. Spaid, L. A. Slaughter and George L. Starkey., This body is considered one of the most important in the assoctation's functions and it was deemed ad- visable to name as strong a commit- tee as possible The plan, essentially, is a mechan- ical inter-bank notification of unde- sirable accounts, working with great est benefits as applied to forgers For instance, if an injured institu- tion makes prompt report of its loss. the entire banking fraternfty is fur- nished with a detailed description of the culprit along with his manner isms and aliases within 24 hours It has been estimated the plan has saved Washingtan banks thousands of dollars since put into operation North American at New Top. Of interest to many Washington investors is the comment of Harrison Williams, who controls the North American Company, discussing the rise in the common stock to a new high at 3412 Mr. Williams said: “Our earnings are beginning to pick up in the Middle West. Due to the fact that we have plants in De- troit, Milwaukee, St. Louis and Cleve- land, we are somewhat of a baro- meter of business conditions. Whe the use of el-ctricity begins to up it means that there is a gene increase in bus activity. Si the first of this month there b been increasing signs of more business. “North American Company h negotiating to sccure a couple small power companies, but definite has been accomplished.’ Bank Service Dixcassed. In the current issue of the Ba Magazine appears as the features article a discussion on “Are ban giving too much free service”” pen Yerkes of the Federal National Bank discussion is_substantially the Yerkes at the last convention of the District Bankers' Association as one of ti three prize winning essays American Th Personal Mention. Alfred C. Bossom new home of the Federal-Americar National Bank, has returned to thi city after a two-month vacatio: abroad. While in Europe he wa decorated by the Roval Institute of Architects, and is the only American architeet of the [ holding this honor. Jonn Poole, president of the Fed- eral-American, leaves the latter part of the week. for White Mountains the Berkshires and Poland Springs While North he will attend the North east conference of Rotary Clubs, turning in time to attend the Finan- Advertisers' Association conven- tion, which will be held in Rich- mond October 14-16 Trading on lLocal Exchange. Sales of 100 shares of Railway pre- ferred monopolized trading on the Washington Stock Exchange this morning. There was no variation in the price, the level remaining firm at 76 Capital Traction fractionally to 921, but Nationa! Mortgage and Investment preferrcd umped to 9 on a sale of 20 shares Washington G s sold ac 1 stock moved up NATION’S SALT BILL TOTALS $27,795,941 The country produced 3 241, the De per cent more 3 than the previous year, witt heading the list of the produc 1t bill was rtment of the Interior nounc on the basis of figures com piled in the Geological Survey, with 7.130,713 short tons being sold or used by producers. This total included 2,757 000 tons of ealt in brine, 2,104,000 tons of rock salt and 2,240,000 tons made by evaporatio production was nd New York was secor with 2,065,8 RAILROADS DO MORE WORK WITH FEWER MEN The average number worked by each employe i of in 1920 merce The Th are Commission freight bus Interstate Com figures, ness handled by was 2 per cent larger than that o The average in 1923 was 1,8 than in 1920 In other words, - of employex or 165,119 les in 1923 the rail- roads handled a larger trafic with fewer emploves, who worked a fewe number of hours, than in 1920. CHICAGO LIVE STOCK MARKET CHICAGO, September 24 (Unitea States Department of Agriculture) - Hogs—Receipts, 16,000; unaven; most- 1y steady at Tuesda average: fairly active demand; top. »: bulk good and cho pound weight 10.00a10.3 weighty butchers. largely 9. bulk desirable 140 to 150 pound kind. 9.50a9.90; packing sows, mostly £.6045.90; majority be ter strong-weight slaughter pigs, 8.10 a 10. Cattle—Receipts, 13,000: fed steers and.yearlings steady to strong: ve lings and handy-weight offerings ac- tive; spots higher; Western grass steers, steady to 10 lower; top vearling: 11.50; several strings. 11.00a11.40; handy-weight, 11 11.35; best weighty steers, early, 10.50; average weight, 1,491 pounds mostly weighty bullc 10.25 below: plain kind downward to 7.30: in-between kinds fat she stock, dull tending lower; well conditioned y lings and heavy beef heifers fi bulls strong: vealers steady, to lower; mostly 25 off: bulk to packers 11.00a11.5¢ few 12.00 and above; out- siders 5 stockers and feeders full Sheep—Receipts, 25.000 fat native lambs stead few outsiders 13.1 orting mod- erate; good Montana lambs, 5 around 15 lower; bidding around lower on balance fat range lambs; best held above 13.25; sheep and fecd- ing lambs steady; few fat ewes, 4.75a 6.50; good to choice feeding lambs, 12.75a13,00; some held higher; short mouth breeding e, 6.7687.00, steady. early sales at 12.50a13.0