Evening Star Newspaper, October 2, 1924, Page 26

FINANCIAL. REALIZING SALES HEAVY IN STOCKS Several New 1924 Tops Also Reached—Traders Are Us- ing Greater Caution. . WEST. , October Realizing vier in the stock mar- were not sufficient high prices being rous instanc But they did thr e list into greater irregularity day went on Oil shares were helped by the off of 14,500 barrels in the dail rage crude oil output shown in the weekly report. Further short covering came into the Pan Amer- icans, and Maryland around 35, Phillips round 32 and Cosden just under 24, were receiving better support. There was, however, no disposition to un- dertake bullish operations yet awhile in this quarter. ket to to previ made in fall- Opens 6% Pointx Hizher. Louis. up did n Francisco preferred points on, the news. become public “until the of business Wednes- day that the stock had been put on a $6 dividAnd b This demon- strated that the street was by no means prepared for the announce- ment, although it had been optimist on Frisco issues for some time pa The way is now open for someth to be paid on the common, and such action is talked of for early next year. Some sympathetic buying oc- rred in Louis Southwestern <om- mon wh earning $10 a share and conl pay « dividend Among quipments Spring reached a new high 6 and Baldwin crossed a reaction following later. Industrial Alcohol dropped off over a point. while Mack Trucks was running up to 102, Corn Products on large trans. ‘tions ot across for the first time., and the upward movement continued in Montgomery Ward, based upon the August increase of over 30 per cent in sales. The cop- pers were decidedly heavy again. 6 not onened which after the Iway around 124 Greater Caution Noted. Below the more cautious. disposition of the rec and to ¢ rather signific surface sentiment w There was more of to dwell upon the extent nt n parts of the list ntion to signs of some nt selling having oc- curred. It was also possible to de- tect here and there a feeling not quite so sare about the political sit- uation. Conditions in lowa and in California came in for more atten- regular qua dend on the first meeting after the market tod In of the year net a share on the s and pre- lculated that , if the di their stock month: $2. all preferred at close of the the first six ncome equaled common after th a share on the jun footwear business is as good as officials have reason to hope for, the amount Wwill be nearer $5, Conxolidated Gax Thrown Over. bre out Selling New York Gas of ment of that the in Consolidated to the accompani- arious rumors. One was company ‘would cut electric light rates. Another had it that dis- appointment was be shown that more had not be in dividends. Still was another to the effect that the company would do no more new financing in the shape of bonds. A run-up occurred in Mack Trucks, reflecting the feeling that the third quarter was more favorable than many had anticipated.y In the first six months Mack had availabie the equivalent of $10.1S a share on the common stock. In the quarter ended September 30, 1923, Mack's for the common amounted to $5.44 a In the second quarter of 1924 net for the common was $6.14 a CLOSING IS UNSETTLED. Dupont and Universal Pipe Break and Weaken List. Assaciated Press " YORK, October 2.—Operators » long side encountered stiffer opposition in their campaign higher prices in today's stock mar- k Concerted pressure inst local public utilities and the unfavorable construction placed by some trade on recent political de- velopments had*a slow depressing in- fluence on the general list, alhtough more than a score of stocks attained new 1924 peak prices. Sales approxi- mated 800,006 shares. The closing was irregular. in a few issues such as Montgomery Ward, Ha; Wheel and the sugar stocks there was a marked le: ning of bullish activity in the late trading. Dupont broke 3 points and Universal Pipe Radiator preferred 31, VOTED. “The Holly an extra divi- | ccumulated pre- ddition to the for | Except £ Rl SUGAR “EXTRA’ NEW YORK, October Sugar Co. declared dend of $1.75 on ferred dividends in regular quarterly disbursement of $1.75, both payable November 1, to stock of record October 15 37 NEW OIL COMPANIES. NEW YORK, October 2.—Thirty- seven new oil companies with total capitalization of $143 .000 were organized in September, compared with 26 in August with capital of $67,- 000. Ohilo Fuel Corpora tion of Delaware, capitalized at $100.000.000. was the largest BUTTER HIGHER TODAY. CHICAGO, October 2.—Butter—High- ; creamery extras, xtra firsts, Eggs—Unchanged; receipts, cases. New York Stock ;fid Bond Averages. Wednesday, October 1. 6.210 STOCKS. Total , stock sales. shares. Twenty industrials averaged 103.28; net gain, .98. High, 1924, 104.13; low, 90.27. Twenty railroads averaged 91.66; net gain, .11. High, 1924, 93.15; low, 81.00. BONDS. Total bond sales (par value), $9,491,000. first-grade rails averaged net loss, .05. secondary ; net gain, .16, public_utilities averaged : net, gain, .07. industrials averaged net loss, .03. bined average. gain, .04. Combined average month ago, 908,700 s averaged 91.00; net Adams Exp (6).. Adv Rumley. Air Reduct (1 Ajax Rubber. ... | Alaska Tuncau. . Allled Chea (4). Allis-Chalm (4). Am Ag Chm pf.. Am Beet Sug (4) Am Bosch. . Am Can (16). . Am Can pf (T AmC&F pt (7) Am Chain A (2). | Am Chicle. .. | Am Drue Svna. . | Am Express (6). |Am & F P 2507, {AmFor Pt pa(7) |Am Hide & Lea.. | Am Hide & L pt. Am Jce (7).. Am Internatl | Am Linseed. {Am Locomo (6) Am Metal (3)... Am Saf R (500) . Am Ship & Com. Am Sm & Re (5) AmS& Rpt (7). Am Stl Fdys (3). Am Sugar. . | Am Sugar pf Am Sumat Tob. | Am Sum Tob pf. Am T & Tel (9). Am Tobac (12).. Am Teb B (12). . | Am Typ Fdrs(7). | Am Water Wka. Am W W pf (6). Am W W 1st (7) Am Wonlen. Am Wool pf Am Zinc. . Anaconda . Arn Cons & Co Asso Dry G (5) Ass0 Ofl (1%)... ALT &S Fe (6). IAT&SFpr(5). Atl Birm & At. Atl Coast L. (18) . At Gulf & W 1 pf Atlantic Refin.. Austin-Nichols. Bald Loco (7) ... ; Bal & Ohlo (6).. Bal & Oh pf (4). arnsdall A | Barnsdall B. Yeh Nut (2.40) Bethlehem Steel.. Beth Stl pt (7). Brk Ecison (8). Brk-Man Tran. . Erklyn Un G (4). Brown Shoe (4). Brunswick Term Burns Br (10» Burns Br pf (7). Butte C & Zinc. . Butte&Superior. | Butterick Co. | cal Pet (1%) al Pet pf (7). Callahan Z Lead Calumet & H 50c Can Pacific (10). Cent Leather Co. ent Lea Co pf.. Cerro de Pasco(4) Chand Mot (3) .. es & Ohlo (4. Ch & O pf (6%). Chicago & Alton Chic & Altpn pt. Chic & East 111 Chic Gt West.... | Chic Gt West pf. | Ch Mil & St Paul Ch Mil & St P pf. Chi & Nwn (4) Ch Pneu T (5). ChiR1& Pac CRI&PPL(D. Chi Yellow C (4) Chile Cop (2%) Coca-Cola (7). . Colo Fuel & Iron Colo Southern. .. Col So 1st pf (4). Col G & E (2.60). Col Carbon (4) Com Solv A (4) Com Solv B.. Congoleum (3) Conley Tin Foil. Consol Cigar. Consol Gas (53 Con Gas of B (8) Jomsol Textile. Cont Can (4) Cont Mot (802 Corn Prod (2). Cosden Co. . Crucible Sti (4). Cub Am Sug (3). Cu Am Su pf (D). Cuban Cane Sug. Cub Cane Su pi Cub Dom Sugar. Davidson Chem. Del & Hud (9).. |Del L& W (6) . | Dome Mines (2). Doug-Pectin (1) | DuPtdeN (8). { DuPtdeNdb ( Eastman (7%).. €1 Stor Bat (4) Erfe.... Erie 18t pf..5 Erie 2d pf. fxch Buffet (2). Fairb’ks (2.60).. Famous PI (8).. Famous P1 pt (8) Fed Lt & Tract.. F'aM&Spt (. Fifth Av B (64c) Fisk Rubber. . Fisk Rubber pf. Fieischman (13%) Foundation (6). Freeport-Texas. Gardner Motor.. nAmTC c3). en Asphalt. ... Gen Asph pf (5). Gen Clgar (8)... Gen El spe (60¢) Gen Motors.. . ... Gen Mot db (6) Gen Petm (2) Gimbel Bros. Glidden Co. Gold Dust Goodrich. Goodrich pf (7). Goodyear pf G'dyear pr pf (8) Granby Consol Gray & Davis 3t North pt (5) Gr Nor Ore (3). Grt Wstn Su (8). Gr Canan Cop.- Guantan Sugar Gulf Mo & Nor. . Gu Mo & N pf (5) Gult SLStl (... Hartman Co (4). Hayes Wh'l (3). Househ'd Pr (3). Houston Oil...... Hud Mot C (3). Hupp Mot C (1). Tilinois Cent (7). indiahoma Ref.. Indep Ol (1).... Indian Motoreye Indian Refining. Inger R (128). Ingersoll pf (6). inspiration Cop. Interb Rap Tr. Int Bus Ma (8).. Int Cement (4).. int Com Eng (2) Internat Har (6) Int Mer Marine.. Int Mer Mar pf.. Internat Nickel. Inter Nick pf (6) Internat Paper.. Int Pap pf st (6). Int Ry Cent Am. Int T&T (6).... Invincible Oil... Jewel Tea. ... Jones Bros Tea. . Jordan Mot (3). KCP&L 1st (7). Kan City South. Kan C So pf (4 90.30; year ago, 8§5.99. e Kayser Jul & Co Fisher Bdy (10). 180 Gen Baking (6). 134 Open. High. 87 817 10% 10% 85% 85% 9 9% 1% 3% 60% 31% 40% 28% 133% 1184 10% 9% 64% 2% 86% 8% 9% 64% 2% B8% % 6 46% 427 43 83% 82% 154 88% 88% 11% 61% 88% 414 59% 10% 37 32% 84% 19% . 75% 2% 82% 37 34% 3 27% 14% 1% % 6% 19% 6% 250 108 24% 24 103 50% 0% 94 9 39% 18% 89 49% T4% 14% 84% 18% 20% 17% 30% 97% 21% b4k 19% Low. 81 10% 844 9% 1% 72% 60% 34 4016 28 131% 116 120 23% 33% 58 118 119% 120 12 93 110 88 27% 38 38 21% 27% 83% 96% 84 50 10% 181% 180 9% 64% 12 86% 8% 4% 46 42 3% 149% 88 General Elec(8) 261% 262% 258 11% 60% 88% 40% 58% 10% 87 31 84y 0% 984 1% 3% 62% 30 85% 15 . 18% 3% 2% 824 35 34% 72 27% 14% 111 % 6% 18 5% 250 108 24% 22 102% 50% 29 93% 9 394 17% 89 4 4% 14% 84% 13 20% 17 30 9% 21% 54% 19% Close. 87 10% 8i% 9% 1% 2% 60% 34 40% 28 1817 116% 120 23% 334 5% 118 119% 120 10% 63% 1% 26% 20 80% 467 8% 105 4% 103% 18% 89 49% 4% 14% 845 13% 20% 17 30 7% 21% B4y »wH in THE EVENINGF STAR, WASHINGTO! NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Kayser pf (8)... Kelly Spr Tire Kenne Cop (3) Keyatone T & R. Kinney G R Co. . Kresge Dep Str. Krasge DS pf (8] Laclede Gas (7) Lehigh Vai (3%) Lig & Myrs (3).. Lig & Myrs B (3) Lima Loco (4).. Loews Inc (2) Loose-Wiles Bis Lorrillard (3)... Louts & Nash (6) McCrory B Mclntyre (15c). . Mack Cos pf (4). Mack Trucks (6) Mack Trk 1st pg Mack T 1st (7).. Mack T 2d (7) Macy RH & Co.. Mallinson & Co.. Man El'md gd 4. Mkt St Ry prpf. Marland 01, . Martin-Parry (4] Maxwell Mot A.. Maxwell Mot B. . Mav Dept St (5) Mex Seabd (2).. Mianu Cop (2) Middle StON .. .. Midld Pr pf (8).. Minn & St Louis. SM pf 4. \lis Kan & Tex. Mis K & Tex pt.. Missour! Pacific. Missour! Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3) Mother Lode 75¢ Nash Mot (10). Nat Acme....... Nat Biscuit (3).. Nat Dairy (3)... Nat Dept Stores. N'DS 1st pf (T) Nat Distillers pf. Nat Lead (8) . Nat Lead pf (7). Nat Ry M 2d pf.. at Supply (3).a atSup pf (7). at Surety (9) Nev Cons Cop. N Or T&M 123% . N Y Air Br (4) N Y Canners (2). N Y Central (7). N Y C&StL(6). NYC&SIL pt (6). N Y Dock...... . N Y Dock pf (5). NY NH & Hart N Y Ont & West. Niagar F pf 1% . Norfolk South. . Norf & W (18) .. North Am (2.40) orth Am pf (3). orth Pac (5)... Oh F Sup (2%).. Ontario Minin, Qrpheum (1%).. Otis Elev (n) (4) Otis Steel Pacific Coast. . |PRcG & E (8)... Pacific Oil (2). Packard (11.50). Packard pf (7).. Pan-Amer (4).. Pa; mer B (4) Park & Tilford Penna Ed pf (8). Penn Railr'd (3) Penn Seab Steel. Pecp Gas Ch (7). Peoria & East. Pere Marq (4)... Pere M pr pf (5). Phila Co (4).... Phila & R&I. Phil Mor (50¢) Phillips Pet (2). Pierce-Arrow pf Pierce Oil. z Pierce Petrol. . Pitts Ut pt (1.20) Pitts Ut ctfs 1.20 Pitts & West Va. Pitts & WVa rts P & W Va pf (6). Postum Cer (4). Postum pf (8)... Press Steel Car. Press Steel C pt. Prod & Refiners. Pub Ser NJ (4). Publlc Serv rts. . Pub S NJ pf (8). Pullman Co (8). Punta Al Su (5). Pure Ofl (1%%)... Pure Oil pf (8) .. Radio Corp of A. Radio Crp pf (7) Ry St1Spg (8)... Ray Cons Cop. Reading (4). Reading rts. ... Read 1st pf (2).. Remington Type Replogle Steel Rep Ir & Steel... Reyn'ds Spgs (1) Rey Tob B (3)... Roy Dth (4.423%) St Josepk Ld (2) St L San Fran. .. St L San F pf (6) St L Southwest.. StLS'thpt (6).. Savage Arms. .. Schulte (8). Seaboard AlrL.. Seab'd Alr Lipf.. Sears-Roebk (6) Seneca Copper.. Shattuck-Ariz Shell Trad (2.06) Shell Un Of1 (1). Shell Un pf (6).. Simmons Co (1). Simmons pt (7).« Simms Pet. . Sinclair Of1 Skelly Oil. 3 Sloss-Sheff (6).. | Sloss-Sh pt (7). South Pac (6)... Southern Ry ( South Ry pt (5). Spicer Mfg...... Spicer Mf pt (8). Std Gas & El (3). StOll Cal (3).... StONNJ ().... StOfl NJ pt (D. Stand P1GI (3).. Stew’t Warn (6). Stromberg C (8). Studebaker (4).. Studebak pf (7). Submarine Boat. Superior Oll.... Superior Stl (3). 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... Twin City (4)... Un Pacific (10).. Un Pac Pt (4)... Un Tank Car (6) Utd Cigar Stores United Drug (6) UD1st pf (3%). Utd Fruit (10).. Utd Ry 1nv . Utd Ry Invest pf U 8 CastlIronP. U S Distributing U S Distr pf (7). U § Hoff Mach.. U S1nd-Alcohol. USR&Im (8).. U S Rubber..... USR1stpf (8). U S Smelting.... U S Smt pt (3%) U SSteel (16%). U S Steel pf (7) Universal Pipe. Untver P pt (7) Utah Copper (4). Utah Securities. Vanadlum Corp. Va-Caro Chem. . Va-Caro Ch pf.. | Open. High. 81w 19 46% 2 80% 51% 95 104 634 63% 62% 603 17% T2% 38 98% 91 16 66 101 98% 104 97 634 24% 435 1 109 19% 6014 64% 81% 19 46% 2 80% 61% 2 104 63% 83% 62% 61% 17% 2% 28 98% c 91 16 66 102% 9% 104 91 65% 245 43 4“ asw 34 62 19% 9w 2% 97% 4T 13%' 100 54% FAw 25% 99 4 15 109% 20% 60t 80% 49 107% 107% 14% 28 147 28% 105% 106% 1% 6 33% 17% 95% 7% 9% 14% 15% 18 3% 90 94% 68% 5% 14% 92 38% 57 354 1% 6 33% 17% 95% 27% 9% 14% 16 18% 3% 90 947 694 76% 14% 92 38% 67% 36 117% 117% 20% 59% 67 A1% 110 8% 4% 27 2% % 40% 80% 38% 9% 37% 65% 923 4% 89% 139% 3% 125% 58% 95% 49% 208 22% 49% 116% 30% 122 28% 1% 9% 85% 89% 34 45% 109% 122% 18% 52 5 4% 24% 1% «4d 21 59% 67 417% 110 8% 5% 271% 2% 5% 40% 80% 38% 9% 87% 66% 2% 4% 42 139% 3% 126 63% 96% 49% 208 22% 49% 116% 3% 1238 23% % % 36 89% 34% 45% 109% 122% 18% 54 5 34% 24% 1% 4 Low. Close. 81% 8l1% 18% 18% 45% 45% 2 804 50% 96 103% 263 a 63% 50% 96 103% 625 63 62 60% 1i% 72 88 98% 1 16 66 100% 98%, 104 61% e N, D. C, THURSDAY, OCTOBER 2. 1924. WESTERN RAILROAD| Coxew vone BONDS ok mecmave] BONDS ‘LEADERS Reports of New f-'inancing Cause Recessions in Two Gas Obligations. BY GEORGE G. HUGHES. Dispatch to The Star. / YORK, October 2.—The fea- ture in today’s bond market was the active speculstion in St. Louls-San Francisco Issues following the an- nouncement of a declaration of a divi- dend on the preferred stock. Interest contered in the adjustment 6s and the income 6, particularly the latter. Un- der heavy dealings prices advanced nearly 2 points before the day was half over. The gain made by the ad- justments was as much as by the in- comes, but ivity was not quite so great. There were also larze dealings in the prior lien * 4s, with a fra tional improvement in price. Other Rallronds Active. Acti demand was reported for Missouri Pacific general 4s around 63, but the bonds seemed to be in p- v at that price. It is understood, that a large block of this 3 ently been taken out of the street for permanent invest nt Seaboard Airline 6s were heavy. In- eat Northern djust- rallied from last night's close. Among industrials American Writing Paper 6s gained sharply on reports d Press. NE . October 2.—New offerings today totaling nearly 000.000 were led b Drug Comp gold bonds terst, to yield 5 included $2.000.000 City Christi- ania, Norway, 30-year 6 per cent sink- ing fund gold bonds to yvield 6.15 per > Rapid Transit mortgage 61 1t 9415, to vield By th bond crued in Others Company. first refundin per cent gold bonds more than T Kraft Chees, cent sinking fund debentures at yielding 6.20 per cent. Activity in today’s early bond trad- ing was centered largely in-obliga- tions of the Western railroads, Frisco issues responding to the dec ration of an initial dividend on the road’s preferred shares. The pany adjusted 6s mounted 21 points, the income 1% and the 4 per cent liens followed with fractional Ea Other issues in demand in- cluded Burlington 31zs, St. Paul re- funding 4'%, Northern Pacitic 5s and Chicago Northwestorn 7s. CHRISTMAS TRADE OPENS ‘Wholesalers Report Shoes and Dry Goods in Greater Demand. Special Dispatch to The Star. ST. PAUL, October ing of holiday goods is reported by wholesalers here, indicating a steady improvement in Northwest trade. Me furnishings, shoes and dry goods showed Increased activity also. There is fear of injury to corn crops from early frosts and harvesting of grain has been delayed by rains, but money received from crops is adding steadily to ‘the farmers’ buying power. September payments of inter- est on farm mortgages-in Minnesota North Dakota and Montana were 50 per cent heavier than last year. —Actual buy- UTILITY PLANTS UNITE. New Company to Supply 1,750,000 People in Middle West. NEW YORK, October 2.—Consoli- dation df several middle-western public_utility interests operating in nine States and supplving a popula- tion of about 1.750,000 with electric light power, gas and other services is announced here. The merger inclu Gas and _Electric United Light and Power Compan lumbus Railway Light and Power Company Kansas City Power and Light Com- pany and Lincoln Gas and Electric Light Company and affiliated com- panjes. Continental SHOPS ON FULL TIME. READING, Pa., October 2—Shop em- ployes of the Reading Railroad here, more than 4,000 in number, today went on the regulation five-and-one- half-days-a-week time. For a long period the shops had been running only four days a week. . FOREIGN EXCHANGE. (Quotations furnished by W. . Hibbs & Co.) Nominal * Selling checks London, pound. Montreal, Paris franc. crown. Prague, crown.. Stockholm,” crown. .. By the Associated Press, NEW YORK, October 2. —Foreign exchanges easy. Quotations in United States dollars: Great Britain, demand, 4.45%; cables, 4.46%: sixty-day bills on_banks, 4.43%. France, demand, 05271 ; cables, .0528. Italy, demand, 0437%; cables, .0438. Belgium, de- mand, .0483; cables, .0483%. many, demand, per _trillion, Holland, .3863. Norway, Sweden, .2658. Denmark, .1736. Switzerland, .1912. Spain, .1330. Greece, 0172. Poland, .19%. Czecho- slovakia, .0298 Jugoslavia, .0136. Austria, .000014%. Rumania, .52%. Argentina, demand, .3600. Brazil, (1085 Tokie, .40. Montreal, .99 63-64. — King George of England has pre- sented to favored friends canes cut from trees from his estate at Balmoral. -23%. €6 % 16% 45 30 14% ). 107 15% 44% 8% 89 23% 1% 93 63% 12% 64% 18 Va Ry & Power. Vivadou.. ... Wabash.... Wabash pf A. ‘Wabash pf B. Wald Sys (1%) Washburn pf ( Web & Heilb(1). Wells Far (2%). Wells-Fargo (n) West Pen (4)... Western Paclfl ‘West Pac Df (6). West Alr Br (6). West E & M (4) Whi & L Erle ‘White Mot (4). Wil & Co pf Willys-Overl' 8% Willys-Ovd pf... 69 Woolw'th n (3).. 112 Worthing P'mp. 46% Wth P PLA (D) 81% W'thPpf B (6). 67 Wrig W Jr (3).. &% Yellow Cab (6).. 52 L i g fates as @ e annual cash payments based on the test quarterly or half-yearly declarations. nless _otherwise noted, extra or special Gvidends are oot included. 66 9% 16 44% 30 14% 107 15% e 8% 88% 23% T1% 93 62% 12% 64% 18 8% 68% 111% 43% 81% 67 66% 10 30 107 A4% 93 63% 13% 6% 18% 8% 69 112 45% 81% 67 A% % % 52 b51% 62 in preferred stock. 12% 64% 184 8% 884 111% 43% 81% 67 with | 1407, ¢ 16% 4% 14% 16% 8% 88% 23% 1% 624 above table Received by Private (Bales are in $1.000.) UNITED STATES BONDS. . Sales. High. Low. Close. . 384 100-28 100-27 100-28 6 10214 102-13 102-13 352 10119 101-16 101-17 99 102+3 102-1 102-2 378 10219 102-16 102-16 106-1 Lib 3%s. Lib 1st 43 Lib 2d 4%, Lib3d 43 Lib 4th 438 US43s1952,. 340 106-2 106 FOREIGN. Sules. High. Argentinebs...... 1 &1 Argentine 6s'37... 65 93% Argentine . 39 102% Austria 7 .25 95% Belgium 6s........ 8 100% Belgium 68 wi..138 97% Belgium 7%4s...... 16 110% Belgium 8: 107% Bolivia 8 93 Bordeau: 8a% Brazil 7, R4 Brazii 8s 97 Canada 6s 1926 01% Canada 68 1931 013 Canada 5s 1952... 10 103% Canada 5%s 1929 104% “hile 75 1943. ... 97 Chile 8s 1926. 103% Chile 85 1941. 105% Chilc 85 1946. 1054 Chinese Gov 42v% Christiania 8s. 110% Copenhagen 5%s. . 96 Cuba 5%s. 96% Czecho 8s 1951 100% “~zecho 88 1952 ct... 100% Danish Munic 8s B. 109 Denmark 6s 100% Denmark §s. Dutch EIb%s.. DEIfksect...... Dutch Sast I 6547 Duten t 1 6362 El falvador 8s "48. . Finland s f 65 1945. Framerican 7%s French vt Tis. . ¥rench Govt §s. . 36 | Haiti 6s. . : Holland-Amer 6s.. Hungary 61s. Italy 6%s 1926.. | Japanese 4s Japanese 6%s. .o Jergens U M 68 °47. Lyons 6s.. > seille 68 s Mexico 45 10 asntd. theriands 6s '54. Netherlands 6s72. orway 6s 1943. ... Norway 6s 19 orway 68 195 Norway 88 | Orient Dev deb 6s. | Paris-Ly's-Med 6x. Paris-1 Prague 7 Queensland 6s. ! Queensland 7s. . | Rio de Jan 8s 194 | Rio Gr Do Sul 8s... | Sao Paulo City 8s.. | Sao Paulo State 8s. < | Seine Dept. of 7 rbs Crotes Slo 38 issons 6a. . Sweden 68. . | Swiss 548 1946 | Swiss Conted 8s | Ud Kingm 63529, U &m 53537, Ud Steam Copen 63 Zurich s, 115 114% 110% 110% 105% 105% 9294 924 1107 110'% 1 ISCELLANEOUS. 94 99 96'5 96ty 94 99 96% Ajax Rubber 58 | Am Agr Chem bs.. {Am Agr Chem 748 | Am Chains f 6533 | Am Repub deb 6s.. | Am SmIt&R 1st 5s. | A Smit & R 6s. | Am Sug ref 63 AmT& T cl t Am T&T cl tr & AmT & T deb 53s. AmT& Tcvbs.... Am Water Wk 5a. | Am Writ Paper 6s. | Anaconda 1st 6s. . | Anaconda cv db 7 | Armour & Co 4%s | Armour of Del 548 26 | Associatec Oil 2 | Atlantic Refin 5s. | Bell Tel Pa 5s Beth | Beth € | Beth Steel 5%s ! Beth Steel s 6s. .. | Brier H St 1st 51s. ! Bklyn Ed gen 5s.. Bklyn Edison 75 D Bkiyn Union G 5s . | Bush T Bldsg 55 °60. * i calif Pete 6128 | Central Leather 6s & | Chile Copper 6s. | Col Gas & E15s. ... | Col Gas & El 5s sta ! Commonwth P | Con Coal Md 1st 58 Consumers Pow 53 Denver Gas 5a.. Dery (P G) 7s..... Det Edison ref 63.. | Donner Steel 7s. Du Pont de N 7%8. Duquesne Light 63 Est Cuba Sug 7%s. | Empire G&F T%s.. Fisk Rubber 8s.... Gen Elec deb 5s. .. Gen Refractres 6s. Goodrich 8%8. . ... Goodyear 8s 1931.. | Goodyear 8s 1941... Hershey 63 1942. Humble O&R 5%8. Illinois Bell 1st 63. Indiana Steel 5 Int Mer Marine 6s. Inter Paper 68°47. . KCP&Lt5sAS2 Kan G & El 68'62.. Keyser (1) T Kelly-Spring 8s. Lackawa S 58 '50... Liggett & Myrs 6s. Lorillard (P) 5s. Loriliard (P) 7. Magma Cop ¢ Manat Sug st 7%8 Marland Oil 7%s Midvale Steel 5 Montana Power 58 New Eng Tel b N Y Eden 1st 6% N Y Tel 4% N Y Tei 68 Nortk. Am Ed North Am Ed 6%8. Nor States Pow 53. Nor States Pow 6s. Northwst B Tel 7s. Otis Steel 7%8 1 Oli'Sl‘e}el 8 c Gas pacific T & T 53’62 People’s Gas bs. Phila Co 6% '38 Phila. Coref 6 A.. Phi! & Rdg C&I 6s. pierce-ArTow 88 100 9% 101% 103 120% 100 9% 1014% 102% 120% e 47% N PR T APPSR ato - R T T =IO YOr el el- PN oh g g P e o ©a 7 Sinclair Ol Stn Crude Ol § Sin Crude Oil 63 Sin Pipe B So Por Ric Southwest Steel & Tube . Sug Est Orient Ts- - Tenw Elec Pow § Toledo Edn 18t Union Bag & Unit Drug ¢¥ U S Rub 18t 1t U S Rubber T¥3.-- uUSstecist "'f;'" Utah Pow & Lt Va-Car Chem 78 va-Car Ch 1tssw Vertientes Sug 78. ‘Warner Sus 78°39. Warner Sug 7841y Western Elec 63 West'n Union 6% ‘Westinghouse 7¢ Wickwire Spen 73 Willys-Ov 6833, 10 Wilson & Co 1st ts. 14 Wilson & Cocvés. 3 51 504 Winchester A 7%s. 5 101% 101% Toupgmn&&Tos. 8 ¥6 95% 98 108% 985 115% 844 104 104% 9214 6014 314 934 90 101 31% 93% 9014 101 9 11l 108% 6% 9% 98% 111y 108% 5% 9944 88% 87% Wire Direct to The Star Office. RAILROADS. . High. 625% 84 894 100 8% 83y, 85% 99% 103 101 99% 84% Ann Arbor 4s. Atchison adj 4s, Atchison gen 4: B'&Oprin3 B & O gold4s.. 9t % 0 0 b Wt Canad North 6%, . Canada North 7s Canad Pac deb Car Clinch & O Car Clinch & O Centof Ga 5148 Cent of Ga 68 Ches & O cv 43, Ches & O gn 4%s., Ches & Ohio cv Chl & Alton 31 Chi B&Q gn 48°58. Chi B&Q 1st rf 5 CB&Q-11l314s F}H:an div C| E Il gn 5. .. Chi Great West 4s. CM & Puget Sd 4s. ChiM & St P 482§ CM&StPab4s. ., Chi M&St P cv 4148 CM&StPgn4y, Chi M&St P re 414 ChiM & St P ev 6 ChiM & St P 6s Chi & N W ref 58 Chi& N W 6%s Chi & NW 78 Chi Rys bs CCC&StLrr6sA, ° Cleve Term 5s w {. Cleve Term 63 Cuba R R s Del & Hd 1st rt 4 Del & Hudson 6% Den & Rio G cn 4, D&RG 18t rf 53 Det United 4 Erie 1st con 4s. Fric gen 4s. rie conv 4s rie conv 4s B. . rle conv 4s D. Gr Trunk ef db 6 Grand Trunk 7s. Great North fs. ... Gr North gen 513, Gr North gen 7s.... Green B & W db B Havana ERL&P 58 Hud & Man ref 6s. . Hud & Man aj 5« . Il Cent ref 55°55., Ul Central 53y, Int Rap Tran bs... Int Rap Tr 5s stpd. Int Rap Trag6s. .. Int Rap Tran 7s. 854 87 65 104% 104 €5 FaTi 65% 87% 101% 614 B oo Tl 88% 43, 98% 964 5s.. Kan City Term 4s. Lake Shore 4s '25. . Lake Shore 4s 31. | by at Liverpool counted also as a stimulu: | abated. 80% | Lehigh Val cn 4s. . Louis & N uni 4s .. Louis & N 5s B. ash s, Louls & Nash 7s... 80k 934 108% 107 1073 Manhat By cn4s Macket St Ry CTSE T 2=t T P - fierir) - 0y 9 +6 87% | |a month ago was announced 621 | stock yards the vear's high ' FINANCIAL. COTTON FUTURES IN SHARP ADVANCE Fear of Cold Wave Makes Prices Stronger—Values Gain 86 Points. By the Associated Press. NEW YORK, October 2—The cotton market opened steady today at an ad- vance of 2 to 11 points and sold 6 to 14 points net higher, with December advancing to 2508 on relatively firm Liverpool cablesiygpprehensions that the present warmeRgweather might be followed by another cold wave in the Southwest and further buying on re- cent crop complaints. The advance met some hedging and realizing on local selling, promoted expectations of an increasing movement with the better weather now prevailing over the belt. De- cember eased off to 24.80, but the mar- ket was fairly steady at the end of the first hour. The advance continued until Decem- ber sold at 25.80, or 86 points net high- er, but the demand tapered off some- what at these figures. Trading was auieter, with prices showing reactiops of 15 or 25 points from the best at | 2 o'clock New Orleans Quotations. NEW ORLMWANS, October 2—Cotton futures opened steady. October, 24.98; CHICAGO GRAIN PRICES. CHICAGO, October 2—Led by a sudden advance of 5 cents a bushel In the rye market, wheat and other grain went rapidly upward in price today when business began. [nex- pected strength in wheat quotations as did evidence that urgent foreign demand for breadstuffs from the United States continuing un- All deliveries of wheat here rose to a new high price record for the season. Wheat opening prices, which ranged from 1% to 2% cents higher, with December 142% to 1.43%, and May 1.45% to 1.49, were auickly followed by material further gain; Buoyance in the rye market was due to reports that stocks of rye in the United States are &o nearly cleaned up that five days of foreix buying at the recent fast pace vould leave only bare bins until by new crop receipts. M of rye, which closer Jumped today to 1 REPORT ON PROFITS INBANK ACCOUNTS {Experts Give Figures on Point Where Small Bal- ances Render Return. | | BY CHAS. P. SHAEFFER. The American Bankers' Association convention, just closed in Chicago {has Leen productive of developments pertinent to a much mooted local problem—that of the proportions of a profitable commercial account, and of a service charge on those considered unprofitable. _ The convention was told that $100 is considered a profitable average bal- ance for a commercial account by large majority of 241 bnaks located in communities ranging in population from 4,500 to 150.000, according to figures quoted by Frank Roberts Louisiana State vice president of the national bank division of the national body. Where the population ranged up to 12,500, Mr. Roberts’ inquiry showed that of 120 banks. 49 considered $30 a_profitable average and 57 required $100. In cities of 50,000 to 150,000, of 58 banks furnishing information, onls 11 made any profit on a $50 avera balance, 110 required $100 and 14 needed §200. A considerable number of banks reported from 50 to 60 per cent of their commercial accoun unprofitable. As populations increase the neces sary e for profit_making, of course, also increases. Therefore, in a city of Washington's population, it would appear that a sum in excess of $100 would be necessary to present a profitable balance, the argument being based on the above figures Then, too. the situation here which i ndoubtedly more congested than ir any other city in the country, irre pective of size, counts heavily against profit making on small unts e statistics submitted by Mr Roberts seem to bear out the asser tion of a4 great number of Washing- ton bankers that a required should be rigidly demanded and ir default of such u service charge of not less than 31 a month should b cted to carry the account. The is some agitation locally that eve this charge would not be sufficient It is extremely doubtful if the lc problem will arrive at a happy solu tion. At the moment there is no se sum which must be maintuined as balance and there is no rigid enfo ment of a nominal service charge cept in a few institutions. On <um th Corn and oats ascended with wheut and rye. There was an active trade| in all grain. After opening at % cent to 1% cent higher; December, 111 to] 1113%; corn scored an additional up-| to 1% up, Decem- | and later showed| gain compared with | vesterday's finish. | Provisions responded readily to the | upward swing of grain and hogs i Simuitaneously with the swift upturn | in grain values, the provision market| worked up to a new top le for the season. A decrease of 24,000,000 pounds | in the stock of lard here compared W"h‘ At the st point in hog values was equaled by prime hogs No important reaction in corn prices was witnessed. The market closed | started to 5 cents 994 | strong, 2% to 4% net higher, Decem- | MK&T4sB MK & T adj 6 MK&Tprinbsa, MK&T6sC. ; Mo Pacific gn 4s... Mo Pacific 5% 1936 . Ao Pacific 63 "65. Mo Pacific 6s. . Montrl Tm lst 6s.. 70 Nassau E Ry 4s° N O Tex & M N O Tex & M Y Cent deb 4 1023 | 1 WHEAT— n December 100% | May ... : 5 : 53 | van | ber 112% to 1 [ % | Close. ember 1461, | refused eith other hand, there are bankers, powerful ones, too, who have fi r to require a set amour, ser charge in Banking Arranged. The new course in accountacy the one on credits installed 1 in the curriculum of the local chapts American Institute of Bauking, w be opened at a joint forum dinner t be held in the City Club next Tues day night, at k. Tuitior of $10 per « e charged al students exc: from non-mer ber b who will be requir. pay $15 per subject. Enrollment i restricted to graduates of the stand and course, bank officers and s bank clerks, according to James Dulin, jr. chairman of the forum committee. Joseph K. Moyer, chairman of the special appeals’ committee of the In- ternal Revenue Bureau, and a mer ber of the faculty of the Washingto: or to make Cournex | School of Accountancy, will instruct | in accounting, and R. Gordon Finney BALTIMORE PRODUCE. BALTIMORE, October 2 | i 99% | cial).—Potat, Y Chi& SL5%s. 40 NYC&StL6sa New Haven d 45 '6 New Haven cd 6 New Haven 7s. . New Haven 7s fr. Y Ont & W ret 4s yrfdsctts.. sadj5sct.. Y State Ry 4%s. Y W & Ros 4133, o-folk & W cn 4s. orfolk & W cv 6s. orthern Pac 3s crthern Pac 4; orthern Pac b Northern Pacr i & Ore Short L ref 4s. Ore-Wash 1st rf 48 Pennsyl con 4%s. . Pennsyl gen 4% Pennsyl 6%4s. Pennsyl gold Peoria & E inc 95, 43 22 1 15 19 8z, 12435 61% *6 97 1075% 9Ty r2iy 98% 94 110y 109% 37 9% 95 93% 1% 83 9244 84 70% 864 944 8% ket 10134 £6%4 9% 79 2% 57 61% 81% 9% 4% 89% 74% 100% 102y 107 83% 29% 56% 46 92 R6% 99% 104% 5% 94k 100% 95% 0% 704 64 Reading gn 4% Rio G West cl 48 RIATK & L 4%a. SUL IM&S 48°29... 12 St LIM&S R&G 48. 15 StL&SFpl4sA. 242 StL&SFprinbs. 11 StL&SF5%sD.. 70 StL&SF adj 6s...183 StLe SF inc 6s..1109 StL&SFplésC.. 8 StLSWcon4s'32. § StP & KCShL 4%s. 3 SanA &ArnP4s.. 8 Seab'd AL ds. 1 Seab'd ALref4s.. 36 Seab'd A Lad) 34 Seab'd A L con 6s.. 57 Sou Pacific 45'29.. 43 Sou Pacificctl4s.. 3 Sou Pacific ret 4 Southern Ry gn 45.101 Southern Ry 1st 53 28 Southern Ry 6s ct. Southern Ry 6% Sou Ry Mobile 4 82% 97% B4 89% 74% 100% 102% 1074% 83% 100% 56% 467 924 6% 99% 104% 20 96 9414 10 100% 6 96 1 90% 1 70% 3 64w —— LIBERTY BONDS FIRM. Texas & Pac 1st 5s. Third Ave ref 4s. Third Ave adj 6s. Union Pac 1st 4s Union Pac 1st tf 43 Union Pac 4s 27 Union Pacific cv virginia Ry st 5 VaRy & F 1st Wabash 1st Bs. Wabash 2d b Western Pacific’Ss. Wheel & L E cn 4 Wlkes-B&E 1st Many Banking Institutions Still Buying Up U. S. Loans. NEW YORK, October 2.—Continued buying of high-grade investments by institutions is reflected in the firm- ness of Liberty bonds and gilt-edge corporation issues, their large sur- pluses of money apparently - compell- ing bond purchasers to employ their funds. This also was said to explain the number of issues banking houses were placing privately. The influence of the small investor, while & factor, is diminished by the scarcity of of- ferings of high-yleld bonds. =l BANK LOANS CLEARED UP. NEW '/ORK, October 2—The At- lantic Gulf and West Indies Steam- ship Lines wiped off its last bank loan yesterday with a final payment of $900,000 on the $6,000,000 lien marine equipment gold note obligation takem out in 1921, 107% | 100 pounds, 75al | dozen, | 5.00; 0: barrel 2 barrel, 1.50a4.00; 0a4.00: beans. bushel. ts. 100, 2.00 cab- .0024.00 100, 3.00a 0: corn. hamper, 7521.00; let onions, sweet potatoe barrel, bage, 5.00: { eggplants, tuce, crate, 1.0 pounds, 1.75a2 75: spinach. basket, 4 00a15.00: barrel, .75: crabapples, basket, 50a75: can taloupes, basket, 1.25a3.00; 'damsons basket, 2; grapes, basket, 60a1.00; peaches, basket, 50a1.00; bushel, 1.00a 2.25; pears, basket, 60a1.00; bushel. 1:50a3.00. DAIRY PRODUCTS. BALTIMORE, Md., October 2.—Live Poultry—Spring_chickens, pound, 23: 26; Leghorns, 21a24; old hens, 17a: Leghorns, 17a18; old, roosters, 15al ducks, 15a21; pigeons, pair, 20a25 guinea fowl, each, 50a75. Eggs—Receipts. 1,375 cases; native | and nearby firsts, offered, 46; bid. 45 Butter—Creamery. good to fancy, pound, 37a40; prints, 40a42; nearby creamery, 35a36; ladles, 30a32: packed. 25; process butter. 34a3s free cases, dozen, quotations, 45. CHICAGO LIVE STOCK MARKET | CHICAGO, October 2 (United States Department of Agriculture).—Cattle —Receipts, 11,000 head; fed yearlings and handyweight steers, firm; spots. unevenly higher; heavy steers, steady top long yearlings, 12.00; 954 ,011 pound averages at that price; best big weight steers, 11.00 some 1,386-pound averages, 1 Kinds of value to sell at 9:50 down- ward now dragging; grass cows and heifers, dull; desirable fed heifers scarce, firm; bulls slightly more ac- tive; bulk bolognas, 4.00a4.25; vealers, 25 higher; practically all interests paying upward to 13.000; bhulk around 12.50; stockers and feeders scarce: steady at week's advance. Sheep—Receipts, 38,000 head; fat lambs generally steady; sorting light bulk desirable natives, 12.75a13.00: few to city butchers, 13.50; mostly 10.00; bulk fat range lambs, 13.00a13.50; sheep and feeding lambs steady; bulk fat ewes, 4.75a6.50; top, 6.75; early sales desirable . feeding lambs, 12.50a13.00: full mouth breed- ing ewes, 7.00a7.50. Hogs—Receipts. 15,000 head; fairly active, 10 to 15 higher; pacKing sows and better mixed kind, 15 to 25 high- er; demand broad; top, 11.15; equal to current vear's high point; good and choice 160 to 225 pound averages, 10.65211.00; desirable weighty butch- ers, mostly 10.60a10.85; bulk better 140 to 160 pound selections, 10.00a 10.50; packing sows, largely 9.20a9.50 highest for this year; desirable strong weight slaughter pigs, 9.2529. GASOLINE CHEAPER. Reduction of 2 Cents Per Gallon Made in West. NEW YORK, October 2.—The Stan- dard Ol Company of Louisiana has cut the price of gasoline 2 cents a gallon at service stations in Lou- isiana, Arkansas and Tennessee and the tank wagon price 1 cent, the new prices being 163% and 14 cents, respectivelyy The Louisiana prices Include the State tax of 2 cents, but in Arkansas the prices are 2 cents higher, owing to the 4-cent State tax. Corning crude ofl has been reduced 16 cents a barrel to $1.50. store | scull { former bank examiner, will conduct the credits course. Status of Railroad Equipment. 1 railroads on tember 1% S locomotives in reed of re- per cent of the number on an_ increase of 794 over Sep tember 1, the American Railway As- sociation reports. There were 6,0! serviceable locomotives in storage, a decrease of Freight of repair same date, . or 9.8 per uniber on line, an in cre over September 1 Heavy repair was needed for 160,452 an increase of 2 Trading on Loeal Exchange. Heayv: Mortgage and Invest- Company featured trading on shington Stock Exchange to- shares changing a slight easing off from previous levels. Five shares of Na- tional Union Fire Insurance Company sold at 10}: and 10 shares of Riggs National Bank brought 300. Cupital Traction was firm at as was Washington Gas Light at 503 Bonds were dull. 'CRUDE OIL OUTPUT DECREASES IN WEEK Falling Off in Imports Also Noted at Leading Ports—Cut Not Large. By the Associated Press. NEW YORK, October 2.—The daily average gross crude oil production o the United States decreased 14,500 barrels for the week ending Septe ber 27, totaling 2,024,350 barrels, a cording to the weekly summary o the American Petroleum Institute. The daily average production east of | €alifornia was 1,416,550 barrels, a jdecrease of 9,200. California pro- duction was 607,500 barrels, a de crease of 5,300. Daily average imports of petroleum at principal ports for the week ended September were 179,143 barrele compared with 254,857 barrels for the previous week. Daily average re- ceipts of California oil at Atlantic and Gulf ports for the week ended September 27 were 155,857 barrels. compared with 95,000 barrels for the previous wee BUSINESS PICKING UP. Bank Clearings Show Steady Gains in Maryland. Special Dispatch to The Star. BALTIMORE, October 2.—Bank clearings are usually taken as an ac- curate business barometer, and ac- cording to figures clearings last raonth here increased 9.3 per cent cver September, 1923. The aggregate for the month was $393,982,909.30, against $360,232,754.14 for September, 1923, an increase of $33,750,155.16. Business was active in this locality at this time last year. Consequentl the sharp increase in September clearings is regarded as a cause for optimism. AL oy PARIS MARKET STRONG. PARIS, October 2.—Prices were strong on the bourse today. Three per cent rentes, 52 francs 50 centimes exchange on London, 84 francs 58 centimes; 5 per cent loan, 65 francs 35 centimes. The dollar was quoted at 18 francs 98 centimes, LIVE POULTRY HIGHER. CHICAGO, October 2—FPoultry—Allve higher; fowls, springs, 3; roosters, 16,