Evening Star Newspaper, December 2, 1924, Page 28

FIN NARROWER PRICE * MOVES N STOGKS Bull Movement Keeps On in Spite of Heavy Sales in Many Issues. BY STUART P. WEST. ®pecial Dispatch to The Star. NEW YORK, December 2.—During the greater part of the time on the stock exchange today, as well as in Monday's late_trading. the iarket demonstrated i ability to resist heavy selling pressure. In ‘spite of all the profit-taking and short-selling which rred the gen- aral body of stocks maintained a firm front, and in several quarters opera tions for the rise were conducted th considerable succe: n many instances where prices fell off sharp- 1 fresh buying came in at the lower levels. A few of the speculative rail way shares were taken up. getting well above the previous day's close. 3pecial moves went on among indus trials, carrying numerous stocks to their best pric Greater New York Traction shares were the outstanding sroup. Traction Shares Strong. Tn the traction shares the inspira- tion continued to come from the in- tervention of the Albany administra- tion in the Greater’ New York transit situation. The feeling was that the tiresome squabbles were now in a fair way to be done awav with, and the whole matter of new subway con- struction handled in a reasonable and impartial manner. The agitation for the destruction of the elevated roads and for the tearing up of the = face tracks, it was now thot would have to be abandoned. On this assumption the strength of Tnterborough Rapid Transit and Third Avenue shares was understand- able. Junior Rails Active. The upward movement in the so- called junior rails kept on auite vigorously for @ time but later en- countered increasing opposition fri realizing While the ady was on, St. Loui Francisco top figures, M., K. and T. was bought and Kansas City sold above 38 for the first time. higher-priced dividend-paying not cut as much of a fizure davs. They ran Into a great 1 profit-taking. Industrial List Mixed. The Industrial list was vers much mixed. There was further strength n tha shipping stocks, espeeiall: Mercantile Marine preferred Gulf, and American Ship and merce. Among the motors taking appeared in teneral Bt the same time that fre ving came into the Pie and Hudson. Cuba Cane Sugar preferred was quite weak. The badly in the face of creases announced in tions. The extraord continued in the United issues, anticipating a dividend in- creace, International Harvester wa a strong specialty, and another was Reynolds Spring. Famous Players continued to move forward. ‘Wabash Preferred Taken Up. Wabash preferred A was one of the first of the rallway shares to be taken up today. It ran across the 85 level, attracting a ready follow- ing, and one after another of the medium gpd low priced rails joined in the advance. Reports persisted of the likelihood of dividends on Wa- bash A early in the new vear. A $5 annual rate was being counted upon in today’s rcnewal of buying of the stock. Motor Reports Favorable. < on other of Com- profit Motors The Street was favorably impressed by further reports of the fourth quarter results of both Studebaker and General Motors. An estimate of General Motors' earnings in the cur- rent three months indicated a balance of well over $2 « share. Inventories have been largely reduced. cash has buen considerably strengthened, and the company is following a sound producing program. Studebaker Cor- poration has made It known that its October sales broke all records. STOCKS TURN DOWNWARD. By the Associated Pres: NEW YORK, December 2—Stock prices pointed upward during the first half of today’s session and then slipped back with the volume of trad- ing, showing a marked falling off. Thirty issues, including several, non- dividend-paying rails, touched new 1924 tops. Selling orders came large- 1y trom professional traders, who act- ed on the theory that the technical condition of the market warranted a further reaction. Sales approximated 1,500,000 shares. The closing was irregular. Some of the Southwestern rails moved up again in the final hour, and Union Tank car jumped 5 points, but several industrials, notably the steels and the motors, continued to lose ground. Markets at a Glance NEW YORK—Stocks irregular; non- dividend paying rails strong. Bonds steady; speculative rails ad- ‘vance; traction bonds active. Forelgn exchanges strong; ing crosses $4.64 to 1924 peak. Cotton higher; increased mill buy- ing. Sugar easy; favorable crop news. Coffee weak; importers selling. CHICAGO—Wheat _lower; pointing cash demand. Corn steady; reports frost damage Argentine. Cattle steady. Hogs active and higher. sterl- disap- " CHICAGO GRAIN PRICES. CHICAGO, December 2.—With offer- ings scarce, wheat scored advances in price today after an early de- cline. Initial setbacks were ascribed to a downturn in quotations at Buenos Alres notwithstanding recent reports that the Argentine crop had been damaged by frost. European advices, however, ar to supply and demand commissions were regarded as bullish. The opening here, which ranged from % to 1% lower, with December 152 to 152%. and May 1.59% to 1.60%, was followed by an upturn to well above yesterday's finish and then something of a re- actfon. Corn and oats parelleled the action of ‘wheat. Country offerings of corn to arrive were light. After opening at % to % decline, May, 120% to 130%, the corn market scored slight gains. Atlantic | ANCIAL. Abitibi Power. Adv Rumley.... Ad Rumly pt (3). Air Reduct (15). Ajax Rubber, Alaska Gold. Alaska Juneau. All Am Cable (6) Allied Chem (4). Allled Cm pf (7 Allis Chalm (4). Allis Chim pf (7) Am Agricul Chm Am Ag Chm pf. . Am Beet Sug (4) Am Bosch. .. Am Can (16). AmCar & ¥ ( Am Chain A ( | Am Chicle. . Am Chicle ot Am Drug Snvd Am Express (6). Am & F P 26%¢ AmF P fpf (7). Am Hide & Lea. Am Hide & L pf. Am Ice (7). Am Ice ptf (5) Am Internatl... Am LaFrance (1) Am Linseed. ... m Linseed pf. . Am Locomo (6). Am Loco pf Am Piano Co pf. Am Radlator (4) Am Ry Exp (6).. Am Saf R (300). Am & Am Sm & Ref (53 AmS & R pf (7). Am Stl Fdys (3). Am Sugar pf (7). Am Sumatra. AmT & Tel (9). Am Tob (n) Am Tob B (n) ... Am Tobac (14) Am Tob B (14) Am Tobac r{ (6). 'lAm Wat Wk (n). Am Water Wks. | Am W W pt (6). Am W W Ist « Am Wrt Pap ctfs Am Zine Am Zine pf. Anaconda Arn Cons & Co. Art Metal (1), Asso Dry G (5) 0 DG st (6). Asso Ofl (1%).. AtT&SFe (6). AT&SF Dt (5). At Birm & At... Atl Coast L (18). AtGuUIf&WI... AtGulf & W1pt | Atlantic Refining Austin-Nichola. Auto Knitter. !Aulu Sales. Baldwin L (7).. Bal & Ohio (6). { Bal& Oh pt (4) - | Bang & Ar pt () Barnet Leather. Barnsdall A Bayuk Cigar. Beechnut (13) | Bethlehem Steel Beth Stl pf (7).. British Empire British Emp 2d.. Bk! Edison (8). Brk-Man Tran. . Bklyn Man pf (6) Brklyn Un G (4) Brown Shoe (4). { Brown Sh pt (7). | Erunswick Term Burns Br B (2).. Burroughs (.. Butte Cop (50¢). Butte&Superior. Butterick Co. .. Caddo Cent Cal Packing (8). Cal Pete (1%).. Calit Pet pf () Callahan Zinc. .. Calu & Arlz (2). Calumet & H 50c Can Pacific (10). Case Threshing. Case Thresh pf.. Cent Leather. .. Cent Leather pf. CRRNJ (12).. Century Rib (2). Cero d Pasco (4) Certain-Tzed. .. Chand Mot (3)... Ches & Dhio (4). Ches & O pf (6 Chicago & Alton Chic & Alton pt. Chic & East IIl.. Chi& E Il pf... Chac Gr West... Chic Gr West pf. ChiMIl &StP... Chi Mil & SP pf. Chi& Nwn (4). ChiPneuT (5). ChiRI& Pac... CRI&Ppf (6). CRI&PPL(T). ChiStPM&O.. Chi Yellow C (4) Chile Cop (2%).. Chino Copper Ciuett Peab (5) Coca-Colo (7) Colo Fuel & Iron Colo Southern . Colo Sou 2d (4) Col G & E (2.60). Col Carbun (4). ComSolv B..... Congol-Nairn(3) Consol Cigar. ... Con Distributrs. Consol Gas (5). Conso) Textile.. Cont Can (4). Cont Can rts Cont Insur (6).. Sont Mot (800). Corn Prod (2) Cosden Co Crex Carpe Crucible Stl (). Crucible pf (7). Cub Am Sug (3). Cuban Am pf (1) Cuban Cane Sug. Cub Cane Su pf.. Cuba Dominican Cushmans (3). Cuyamei Fr (4). Danfel Boone vison Chem. De Beers....... Del & Hu .. DelL& W (8).. Detroit Ed (8)... Dome Mines (2). Doug Pectin (1). Du Pont (8). . Duquesne df (7). Eastman (17%). Eaton Axle..... Bl Stor Bat (4). Elk Horn. . End-John (8) Endicott pf (7). Erle 15t 5t Erte 2d pf... Exchange 3t 2). Fairbke (2.60. Famous £1 (8). Famous pr (8) Fed Lt & Tract. . Fed Mines pf (7) Fisk Rubber. Fish Rubber pf. . Opes. High. Low. Close. 64 64 13 13 46% 46% 85% 87% 12% 13% 111% 77% . 117Y% 67% 108% 15% 427 130 114 116 13 69 83 Tt 125 S6% 105% 431z 47 904 11 130 8314 821, 165 163'% 106 28 139 10015 973, 115’ 93% 14 18 26! 91 4 634 4% 10 120% 8513 3% 99% 4's 26% 64 9% 187y 63 17 151% 487 387 328 90 2) 107% 9y 17% 84% 58 914 28% 16% 27% 67% 90 46% 87 97 50 49% 35 27% 6314 8% 39% 43% 58 44% 45% 920 43% 28% Cont Can pf (7). 110% 98% 8 41% 2! 4 69 95% 30% 99 14% 60% 6 695 b63% 8 40% 22 181% 144 110 18% 16 134% 105% 111 11% 64% 12% 71 1138 30% 43 40% 20% 32 93% 105 109 56 12% 5% Oats started unchanged to % off,| Fleischman 3% 8814 May, 68 to 58%, and later showed a trifie advance. Provisions were firmer, reflecting the tendency of the hog market. WHEAT— . High, Low. Close. December ..... 1.52% 1041 151% 1.52 May - ren Leex l.filg 1.43 1.41 5 1143 M 1.21 s 1 b B8’ Ly .33 31 3 58 e EEERATEYY Foundation (6).. Frank-Sim pf. Freeport-Texas. Gen Am Tnk (3) Gen Asphalt. ... Gen Asph pf (5). Gen Baking (6). Gen Electric (8) Gen El spl (60c). Gen Motors (6).. Gen Mot pf (6) Gen Mot pf (7) Gen Petrol (2). 86% 104% 10% 46% 51 9044 157 268 11% 58 24% i 1% 1115 78% 17% 6814 108 62 18 46% 85% 12% £ 1% 1115 7% uT% 671% 103% 15 42% 41'% 267 1475% 1784 241 35% 5% 5% s 128 107% 108 41% 22 182 144% 110 13% 15 1354 106% 111 11% 65 12% T1% 113 31% 45% 42% 20% 32 95% 105% 109 5% 12% 5% 8945 86% 104% 10% AT% 51% 90%% 167 269 11% 61% 90 100% 43% 58 24% 13% 13% 114 10 120% 351 18% 19% 1% 9743 22% 977 4 52% 167% 6236 13 464 86'% 12% % 1% 1% 78 117% 684 108% 15 24 122% 361 73 5% 73 99% 4% 26 64 914 18% 21 1% 97 23 9% 4 52% 1674 151% 151% 24 66% 18 50% 24 6613 18 50% 249 249 31% 48% 38ta 32 904 8 16% 34% 57% 94 28% 164 27% 674 90 46% 86 96% 50 49% 34% 27% 61% 134 314 48% 381 324 91 8% 17 85 57% 9% 28% 16% 278 67% 920 4T% 86 96% 50 49% 35 27% 64 8% 39% 43% 58 44% 46% 920 43% 27% Y% 6% 414 62% 1% 110% 110% 9E% 7% 41% 25% 42 68% 95% 56 5% 856 863 104% 9% 46 503 90% 161 267% 11% 60% 89% 100 42% 57% 57% 24% 24% 13% 13% ' 98% 81 41% 2635 43 70 95% 30% 99 13% 59'% 5 6 8% b 8 41% 22 182 14115 110 13% 1 185% avur 111 11% 643, 123y 1% 113 81% 45% 42% 20% 313 95% 105% 109 56% 12% 6% 85% 86% 104% 9% 47 51% 9015 151 268% 11% 61% 90 100 42% T Gold Dust. Goodrich Goodyear pf. Granby Consol. . Gray & Davi Grt North pf (6). Grt Nor Ore (3). Grt Wstn Su (8). Greene Canan... Guntanamo Gulf Mo & No Gu Mo & N of (5) Guif St Steel (5). Hanna Ist (7). Hartman Co (4). Hayes Wheel (3) Hoe & Co (A). Household P (3). Houston Oil. ... Hudson Man Hud Manopr..... Hudson Mot (3). Hupp Motor (1). Hydraulic Steel. Illinots Cent ( 11l Cent pt (6) Illinots Cent rts. Independ Oil (1) Indian Motorcye Inland Stl (2% Inland Stlpf (7). Inspiration Cop. Interb Rap Tr... Internat Agri... Int Bus Mac (3). Int Cement (4).. Int Com Eng (2) Internat Har (5) Inter Har pf (7). 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 Tel & Tel (6) Invincible Oll.... Iron Prod (41).. Iron Prod pf ($). Jewel Tea. Jewel Tea pf. ... Jones Bros Tea. Jordon Mot (3).. Kansas & Gulf. . Kan City South. Kan CSo pt (4). Kayser (Julius) Kayser pf (8)... Kelly-Sprigfield. Kelsey Whi (6). Kennecott (3) Keystone T & Kinney GR..... Kresge Dep Str. Kuppenheim (4). Lea Rub & Tire. Lehigh Val (3%) Lig & Myrs B (3) Lig & My pf (7). Lima Loco (4)... Loews Ine (2)... Loft.. - Loose - Wiles Bis. Lorrillard (3).... Louls & Nash (6) Ludlum (2).... McCrory (1.60).. Aclntyre (75¢).. Mackay (T)..... Mack Trucks (6) Mack T 1st (7).. Mack Trk 1st pd Macy HR & Co. Magma Copper. . Mallinson & Co. Manati (8)...... Man EIl Sup (4).. Man El md gte4) Manhat Shirt (3) Manila Elec (n). Maracaibo Oil... Market Street. .. Market St prior. Marland Ofl. ... Marlin Rockwell Martin-Farry 4. Mathieson Alka. Mathieson pf (7) Maxwell Mot A.. Maxwell Mot B May Dept St (5). Mergenthal (10) stetro Gold pf... Mex Seabd (2! Miami Cop (2). Middle States. Midlnd Pr pf (8). Minn & St Louis. Mis Kan & Tex.. MisK & Tex pf.. Missouri Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 76¢ Mullins Body. funsingwr (3).. Nash Mot (110).. Nat Acme. 5 Nat Biscul . Nat Cloak & Sut. Nat Dairy (3)... Nat Dept Stores. Nat Distillers pf. Nat Enamel & S. Nat Lead (8).... Nat Ry Mex 2d Nat Supply (3).. Nevada Copper.. N O T&M 123%.. NYAIrBr (4).. NYAIrBrA (9 N Y Canners (2). N Y Central (7). NYC&StL pt (6). N Y Dock.. . N Y Dock pt (5). NY NH & Hart.. N Y Ont & West. N Y Shipbld (2). Niagar Fpf1%. Norfolk South... Norf & W (18)... North Am (2.40). North Am pf (3). North Pac (6)... Porpheum (13%).. Otis Elevat (¢).. Otis Elev pf (8). Otis Steel . Ctis Steel pf. . Owens Bot (3)... Facil fail..... Paclfic Gas (8).. Pacific Oil (2)... Packard (11.50). Pan-Amer (4)... Pan-Amer B (4). Park & Tiitord.. FennC&C (4).. Pennsylvania (3] . cnn Sead Steel. Peoples Gas (3). Pere Marq (4). Pere Mar pf (5, Pere M prior (3). FhilaCo (4)..... Fhila Co pf (3) Phlla& RC&I. Philllp Morris. .. Phiilips Pet (2). Pierce-Arrow... Plerce-Arrow pf Pierce-A prior 8. Plerce Oll. Pierce Oll pf Fierce Petrol... Pitts Coal (4)... Pitts Ut pf (1.20) Pitts Ut ctfs 1.20 West Va. & WVarts. Postum Cer (4).. Press Steel Car.. Prod & Refiners. Pro& R pf (3%). PubSerNJ (4). Public Serv rts. . Pub SNJ pf (7). Fub S'NJ pf (8) FubSElpf (.. Pullman Co (8). Punta Al Su (5). Pure Ofl (1%)... Pure 011 f (3).. Radlo Corp of A. Radio Crp pt (7). Ry St1Spg (8)... Ry 8t 8g pf (7). Ray Cons Cop... Reading (4). Reading rts ‘oo Reading 1st (2). Remington Type Remingtn 1st (7) Open. 421 344 81% Gdyear prior (8) 106% 18% 3% 70 34% 92 17 7 22% 81t 79 36% 46% 97% Remingtn 2d (8) 110 Replogle Steel. . Rep Ir & Steel Repl& Spt (7). 20% 53% 2% 55%% 13% 18% 68 13% 87 56% 28 43% 67 24% 100% 112 99% 135% 43% 27% 104% 42% 48% 127% 115 16% 69% 21% 86 46% 9Th 109% 20% 19 b4 53 2% 92% 16% 0% 21% 36% 48% 97% 110 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office 14% 461y 2414 4% 5% 73 16% 864 14% 6915 110 20% Y| CHICA 36 1% 25% 4% 564 13% 13% 684 13% 8% 57 28 43% 68 24% 100% 112 99% 136% 44 28% 104% 42% 48% 127% 116 16% 0% 21% 36 46% 97% 109% 20% 53% 92%, 3| ards, 3 PRICES IRREGULAR INBOND MARKET Railroad and Traction Issues Take Lead in Trading Today. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December tions were the leaders 2.—Trs in Rapid Transit Issues the most prom- inent. These issues displayed great strength. The refunding 5s un- stamped crossed 70 and the stamped bonds touched 70 in the first two hours of trading. At these prices the unstamped bonds were selling within |less than a point of the high of the vear, while the stamped iesue had equaled the high of the year. Both the 6 per cent and the 7 per cent notes made new highs today. Good Earnings Reports. Some of this buying may have been brought about by the favorable Octo- ber earnings statement, which showed {a balance after fixed charges more than twice as high this year as In 1923, Probably. however, the belief that the local political situation was improved had more to do with the day’s active speculation. The favorites among the fpeculative ralls continued their advance. M., K. & T. adjustments made another new high at 7. St. Louis-San Francisco incomes crossed 18, also for a new high record. 1. G. N. adjustments were firm around 6 and Seaboard | Air Line adjustments around All Ithese bonds keep pace with the sp. lulative activity in their respective sto 7. Forelgn Group Qulet. Trading in the foreign group went jon more quietly today. The new ! French is were steady, but the Nord Railway 6lzs, which were heavy vee- terday, lost more ground today. The {oftering is scheduled very shortly of $10,000,000 French National Mail Steamship lines 7s, due 1949, on a 7.80 per cent basis. These bonds will have what amounts to a guarantee by the | French government Today's new issues included $2 000 Adirondack Power and Light due 1930, £1.000,000 Manch ter (N. H.) Traction Light and Power due eld 5.35 per cent, £2,500,000 state Power General due 1934, to vield per cent 000,000 Mortgage Bond Co. 10- s at par. CHIC;GO BUTTEBfiL(V)WER. December 2. —Butter, reamery, extras, 48%; stand- firsts, 44a47; firsts, 37 receipts, ordinary first extras, 000, lower; a40; seconds Egss, firsts, refrigerator 3 a5a40; firsts, | | I | STEEL PRICES ADVANCE. NEW YORK, December 2.—Inland eel Co. has advanced shect prices a ton. Reynolds Sp (1). Rey Tob B (3)... Robt Rels 1st pf. Rossia Ins (6) Roy Dutch 4.42% St L'San Fran... st L San F pf (6) St L Southwest. | StLSwn pt (3)- Savage Arms. .. Schulte (8)..... Schulte pf (8) Seaboard Alr L. Seabd Air L pf.. Sears-Roebk (8) Seneca Copper. . Shattuck-Ariz. . Shell Union (1). Shell Un pf (6).. Simmons (2 Simms Pet ( Sincialr Oll. . Sinclair pf (§).. Sloss-Sheft (6).. South Pac (6)... Southern Ry (5). South Ry pf (5). Splcer Mfg...... Std Gas & El (3) Stana Mill (5) St Oil Calif (2).. SLOINJ (1)... Stand P1GI (3).. Sterling Prd (4). Stromberg (6).... Stew Warner (5) Studebaker (4).. Submarine Boat. Supertor Oil. ... Sweets of Amer. Telautograph... Tennessee Coppt Texas Co (3). ... Tex G 3ulph (7). Texas & Pacific. Tex & PacC & O Third Avenue. . Timken (13%). . Tobac Prod (6).. Tobac Prod A (7) Transcont Oil.. Transu & W (3). Underwood (3). Un Bag & Pape: Union Oil Calif. Un Pacific (10).. Un Pacpf (4)... Un Tank Car (5) Utd Alloy Steel. Utd Clgar (3%). United Drug (6). Utd Fruit (10).. Utd Ry Invest... Utd Ry Invest pf U 8 Cast Iron P. U S Distributing U S Distr pf (7). U S Hoffmann. .. U S 1nd Alcohol. U S Realty (8)... U S Realty pf (7) U S Rubber..... U S Rub 1st (8! U S Smelting. . U S Steel (16%). U SSteel pf (7). Universal Pipe.. Univer P pf (7). Utah Copper (1) Utah Securitles. Vanadium...... Va-Caro Chem. . Va-Caro Chem B Va-Caro Ch pf.. wabash. . . Wabash pf A. Waldort (1%).. Webber & H (1). Wells Far (2%). West Pen (4)... West Maryland. West Md 2d pf.. ‘Western Pacific. West Pac pf (6). West Union (7. West Air Br (6). Westinghouse (4 Westhse 1st (4). Wheel & L Erie. Wheel & LE pf. White Mot (4).. Wickwire Spence Wwilson & Co. wilson & Co pt Wwillys-Overland Willys-Over pf. Woolworth (3) Worthington. .. Worthington B § Worthgton A (7) Wright Aero (1) wrigley (3).... YelCab (2.52)... 88 39 Youngstown (). 67 67 {Partly extra. $Payable in pref el skl are o Tatest quarterly or half-yearly deciarations. Unless otherwise soted, videats e sat 1acipdeds % T 15% 64 43 8% 4% 2% 91 8% 43% 918% 444 10% 137 87 69% 92 4 30% 39% 49 361 1463 T4% 123 26 61% 10735 205% 24% 55 136 3354 134% 22% 83% 124% 124% 38% 93% 36% 116 121% 32% 87 81% 87 2815 2% 115 10t 20% 53% 19% 16% 121 89 12% 21% 845 8¢ 1161 1043 645 80 14% 28 67% 1% 6% 19% 10% 71 112 46% % 86 15 43% 371 37% 67 €1 ferred stock. 123 28 62 108 205% 25 5515 137 33% 134% 23 84 124% 124% 38% 94 37 116 121% 34 6745 81% 3% 29 25 1% 10% 20% 53% 19% 16% 12% 89 12% 21% 86 84 116% 104% 65% 80 15 28 67% 1% 6% 19% 10% 3% 113 47 1% 86 16% 44 191 10% T1% 112% 461 1% 88 15% 43% us Py 1% 86 16% “ 04 cases; | today's | g, - bond market with the Interborough B:lr:',um' | ON NEW YORK BONDS STOCK EXCBANGE] Recsived by Private Wire Direct to The Star Ofice. I.INI‘('BE.ID STATES BONDS. **alne. i Low. Close. <o 114 100+29 100-28 100-28 49 101-31 101-27 101-27 401 1018 1012 101-1 488 101-20 101-16 101-17 . 468 102-5_ 10130 102 @ 63 105-15 105-11 105-11 FOREIGN. Open. High. 536 79 1:30. 95% 102% 96% 99 100% 95% 109% Low. 965 102% 964 99 100% 95% 109% 107% 11 92% 87% 82% 1017 96% 100t 101% 102% 102% 98 103% 106% 45% 110 9115 9484 8643 100 100 1091 100% 110% 91 91 9% Argentine 6s Argentine 7, Austria 7 Bank of Japan Belgium 6s. . Bollvia Bordeaux 6s. Brazil 7 Brazil 7%, Brazil 8s. Canada bs 1926 Canada b5 1931 Canada 55 1952. ... Canada 6%s 1929 Chile 7s 1943. Chile 851926 .. Chile 85 1941, ..... Chinese Gov Ry b8 Christiania 8s. Con Pow Japan 7s. Copenhagen 5%s.. Cuba 5%s. . Czecho 881951. Czecho 85 1952 ct.. Danish Munic 8s A Denmark 6s. Lo mark 8s. DE15%sMch '53 D £ 1045 Nov'53. Dutch East I 6547 & Dutch East I 6s'62 Finland s f 65 1945 Framerican T%s.. French7s wi. .. French Govt 734s. French Govt 8s Germany iswi. Hait1 6s.. Holland-Amer 6 Hungary 6% Italy 6%5 1926 Japanese 4s. Japanese 6%s Jergens U M 65°47 Lyons 6s. Marseille 6. Mexico 5s a Montevideo 7 Netherlands 6354 91 Netherlands 6s'72 33 Norway 6s 1943... 55 Norway 6s 1944... 43 orway 65 1952. Norway 88........ D Orient Devdeb6s. 6 Paris-Ly's-Med 63 56 Paris-Ly's-Med 7s 39 Paris Orleans 7s.. 25 Queensland 6s.... 3 Queensiand 7s Riode Jan 85 1946 Rio de Jan 8s 1947. RioGrDoSul8s.. 2 Sao Paulo City 8s. 7 Seine Dept of 7s.. 35 Serbs Crtes Slo 8s 28 Soissons 68 Sweden 5les ct Sweden 6s. ... Swiss 5145 1946. Swiss Confed 8s Toklo bs. ... Ud Kingm 55 5 Ud Kingm 5%s 37 47 Ud Steam Copen 63 2 Uruguay 83 S Zurich §s... MISCELLANEOUS. Ajax Rubber8s... 11 97% Am AgrChem 7%s 13 96 AmChainsf68'33 4 96% Am SmiIt&R 1st 5s. 27 96'a AmSmit&K6s... 1 105% AmSugrefés..... 10 AmT& Teltr4 6 Am T&T cltrs... 23 AmT & Tdebb5%s 26 AmT&Tcvés.... ¢ Am Water Wka5s. 3 Anaconda 1st 6s... 67 Anacondacvdb 7s 45 Armour & Co 43%s. 27 Armour of Del 5% 29 Associated Oll 6s. 16 Barnsdall s £ 8 1 Bell Tel Pa bs. 16 Beth Steel pm6s.. 4 Beth Steel rf bs Betn Steel 5%8 63 Betn Steelsf6s... Brier H St 1st 5%8 Bkiyn £d gen 5s.. Bklyn Union G bs. Bush T Bldg 55'60. Calif Pete 6%s.... Can Gen Eldeb 6. Central Leather 6s Chile Copper 6 Col Gas & El 5s. ... Col Gas & El 6s sta 24 94t 94y 100% 105% Con Coal Md 1st 63 Consumers Pow 63 Cuba Cane cv 7t '3( Cuba Cane cv d 8s.120 Cuban-Am Sug 8s. 10 Deaver Gasbs.... 23 Dery (D G) 7 1 Det Edison 5s’40.. Det Edison ref 6 Du Pont de N 7%s. Duquesne Light 63 Est Cuba Sug 7 Empire G&F 7 Fisk Rubber & Francis Sug 7% Gen Elec deb bs. Gen Refractres 6s. Goodrich 6%s. . Goodyear 85 1931.. Goodyear 8s 1941.. Hershey 68 1942 Humble N&R 5% Tlinois Bell 1st bs. Indiana Steel 6s... 10 Int Mer Marine 6s. 61 Inter Paper5s’47. 15 KCP & Lt 5s A '52.121 KanG & E168°'62. 2 Keyser (J) 7 . b Kelly-Spring 8s... 10 Lackawa S 65°50.. Liggett & Myrs bs. Liggett & Myrs 7s. Magma Cop cv 7s. Manati Sug sf 735e Marland Oil 7%s. . Marland Oil 8s°31. Maxwell Motor 7s. Midvale Steel 5s ct Montana Pow §s. . Mor's&Co 1st 4345 New Eng Tel 5s... N Y Eden 1st 6%s. NYG EL H&P 4s.. NYTel4 N Y Tel 68°41. N Y Tel 65’49 North Am Ed 68 North Am Ed 6%s. Nor Ohfo T&L 6s. . Nor States Pow bs. Nor States Pow 6 Northwst B Tel 78 14 17 5 25 18 18 10 . 16 19 12 1 19 52 Otis Steel 7%S.... Otis Steel 88...... Pacific Gas & El 68 PacT&T 1st5s... Pacific T & T 5s'62 People’ Phila Co 5%s'38.. PhilaCoref 65A.. Phil & Rdg C&I 58 Plerce-Arrow 8s.. Pierce Oil deb 8s.. Producers & Rf 8s BBt mowo - or Rico Sug 78 3 eihwest Bell 68 Steel & Tube 78; Sug Est Orient 7s. Tenn Elec Pow 6s. Tide Wat O1l 6%s. Toledo Edn 1st 7s. USRublstreSs.. 64 w8aathleaBa - Bales, U 8 Rubber 7%s. . U 8 Smelter 6: USB8teel s £ 55 Utah Pow & Lt Va-Car Chem 7i Va-CarCh7%ssw 1 Vertlentes Sug 7s. Warner Sug 7s°39. 1 16 10 West'n Union 6%3 Westinghouse 7 &Col1st 68 Wilson & Co cv 6s. Wilson&Ccv 7%s. Winchester A 748 1 Youngstn S & T 6s 58 High. 104% 101 104% a1y 73 4% 92% 82 98% 110% 107% 994 91 561 58% 102 91 RAILROAD. Atchison adj ¢s Atchison gen ¢ AtlanticCLel 4 44 26 a E 2 92 & O1stbsct 68 rt Bklyn-Manhat 6; Buff R. & Pitt 4%s Canad North 6%s. Canada North 7s. . Canada Pac deb 48 Car Clinch & O 5s. Car Clinch & O 6s. Cent of Ga 5%s. Cent of Ga 68 Central Pacific Ches & Ocv 4% Ches & Ogn 4% Ches & Ohlo cv 6s. Chi & Alton 3s.... Chi & Alton 3%s. . Chi B&Q gn 48 '58. Chi B&Q 1st rf ba. CB&Q-Ill3%s Chi& ETgn Chi Great West C M & Puget Sd ChiM& St P 4826 CM&StPdbds.. Chi M&St P cv 4342 Chi M&St P rf 4148 Chi M &St P cv bs, Chi Un Sta 414s_... Chi Unlon Sta bs. ChiUn Sta 6%s... Chl & W Ind cn 4s. Chi & W Ind % CCC& StLBs..... CCC&StLrf6sA. Clevc Term bs Sou 4348, Cuba R R bs. Cuba RR 74s Det & Hd 1st rf Del & Hudson 6% s Den & Rio G cn 4s. D & Rio G imp bs. D&RG1strfbs.. DesM & Ft D 4s. Det United 4%s... Erie 1st cons 4s... Erle gen 4s Erie conv 4; Erieconv 48 B. Erfe conv 4s D Erfe conext7s.... Erie Genessee R 63 Erie (Pa) clttrds. 5 Gr Trunk sf db 6s. 12 Great North bs. . 7 Gr. North gen s 4 Gr North gen 7s... 17 Havana ERL&P 5s 9 Hud & Man ref 6s. 14 Hud & Man aj 5s..108 Il Centralref 4s.. 5 Ill Central 5%s... 2 Int Rap Tran bs. ..189 Int Rap Tr 58 stpd 164 Int Rap Tran 6s.. 198 Int Rap Tran 7s...252 Int & G Nor 1st 6. 11 Int & G Nor aj 6s..190 Towa Cent rf ds... Iowa Cent 1st bs.. Kan City Ft S4s.. Kansas City S3s.. Kansas City 8 bs.. Kan ity Term 4s. Lake Shore §s°'28. Lake Shore 4s'31. Lehigh Valcn ds.. Long Island rf 4s Louis & N 5s B.. Louis & Nash 514s. Manhat Ry cn 4 Market St Ry 7s.. MIlEIRy &Lb M & St L 1st re! M&StLrfex6s 3 10 36 31 TprinésA K&T6sC..... Mo Pacific gen 4s. Mo Paclfic 63 °65.. Mo Pacific 6s... Montrl Tm 1st b Nassuu E Ry 4s°'87 NewOr Term 4s NOTex & Minbs. N O Tex & M 68 B. NOTex & MG . N Y Cent cn 4s°98. N Y Centdeb 4s Centribs 5 c Chi & St L%e NYC&StL6sA. New Havn d 4s'67. NewHaven c d 6 New Haven7s.... New York Ry f 4s N Y Ry rt dsctfs.. New York Ry aj 53 N Y Rys adj bs ¢ N Y State Ry 4%s NY W & Bos 4%s. Norfolk & W cn 48 Northern Pac 3s Northern Pac 4s. . Northern Pac 63 D Northern Pacr 163 Ore & Calif 13t 5s. Ore Short L ref ds. N N N ¥ N X ¥ v 2 Y 1 gen 6s.. Pennsyl 6%. Pennsyl gold 7 Peoria & E inc 48. PCC&SLLOSA.. Reading gen 4: Reading gn 4 RIATk & L 4% St L IM&S 4s°29. St LIM&S R&G ¢ StL&SFplisA. StL &S F prin i StL&SF6%s /| St L& SF ad) St L&SF inc 6s.. 1569 StL&SFplésC.. 3 StLSW 1st & StLSW con4s'3s 12 82t 8944 8614 86% 22 86 100% 102% 101% 99% 69t 83% 87% 117% 116% 79% 100% 106% 99% 102% 87% 95'4 88% 101% 62 47% 883, 101% 8115 6t StP & KCShL 4%e 61° St P Un Dep 6% canA&ArnP 4 Seab'd AL 4s sta. ab'd A Lret 4 Sou Pacific ref 4s. Southern Ry gn 48226 Southern Ry 1st 58 14 Southern Ry €sct. 16 Southern Ry 6%s. 87 Sou Ry Moble 4 6 Term Asso St L 48 T:x:ll : owl 6 Thi: @ re Third Avead) . 90 Union Pac 1st 4s.. 13 Union Pac 1strt i 5 Union Pac 48°'37... 13 Union Paclstrtbs 5 Union Pacific cv & g 3 « 5 . 34 101% 104 107% 81% 83 994 b6 4% 924 85 98% 108% 104% 95% 93% 100% 64% Low. 104% Close. 104% 101 101% 104% 1% 2% 47% 92% 82 98l 110% 107% 99 20% 56% 58% 102 £ - 82% 90 86 86%% 897 85% 100 102% 101% 99% 69% 83% 87 117% 116% T9% 100% 106 73% 101 108% 107% 81% 83 99% B5% 47% 91% 85 98% 103% 104 951 98% 100% 63% ‘Western Pacific$s 12 91% 91 ‘West Shore 1st ds. 8 82% 82% Wisconsin Cent ¢s, 4 80% 80% 104% 1Y% 73 4% 921 82 98% 110% 107% 99'% 91 56% 58% 102 96 82% 20 86% 86% 90, 85% 100% 102% 101% 99% 6919 83% 87 117% 116% 79% 100% 106% 99% 1025 Lhel 954 88% 101% 62% 46% 888 84% 74 101% 104 107% 81% 83 991 56 47% o1% 85 98% 103% 104 95% 93% 100% 64 o1 824 0% FINANCIAL. COTTON QUOTATIONS DO BETTER TODAY Yesterday's Declme Followed by Rallies—Mill Reports Improve. By the Associated Press. NEW YORK, December Yester- day's decline in the cotton market was followed by rallies in today’s early trading. Near months were relatively steady, owing to the appearance of notices representing about 5,000 bales and December liquidation. The la ter was absorbed on a moderate wid- ening of the difference, however, and the general market worked higher during the first hour on trade buy- ing, covering and reports that coun- try holders were not offering spots at_the decline. December sold up from 322.58 to 22.75, or 17 points net higher. Later deliveries ehowed net advances of about 20 to 23 points, with January selling at 22.99. New Orleans Quotations. NEW ORLEANS, December The cotton market opened steady. Prices eased off momentarily Imme- diately after the call, January drop- ping to 22.85 and March to 221, or 11 to 16 points below yesterday's close. The market soon rallied, hdw- ever, showing a better tons after the somewhat liberal recent liquidation. January advanced to 23.10 and March to 23.20. News from both Southern and Northern cotton mills was more encouraging, most establishments now working full time and many overtime. P FORD CUTS AUTO PRICES TO LOWEST FIGURE YET Special Dispatch to The Star. DETROIT, December 2—Ford prices have beeg reduced to the low- est point in history by a cut of $5 in the quctations for runabouts, coupes and touring cars, $10 for Tu- dor sedans and $25 for Fordoor ee- dans. This makes the new list prices $260, for runabouts; $290 for tour- ing cars: $520, for coupes: $580, for Tudor sedans, and $660 for Fordoor sedans. Dodge Brothers have made reductions ranging from $10 for touring cars and roadsters to $155 for the B sedans. The epecial line was re- duced $10 for touring cars and road- sters to §165 for the B sedane. Washin;fi_St;ck S(change SALES. tion 5s—$309 at 95, $1,000 at 95, $2.000 at 98 Washington Kwy. & Elec. 45—$300 at 75%. inglon Rws. & Elec. 5. & r. 65 33 o gton Gas Light—10 at 525, niogton Rwy. & Elec. pfd. at 781, Laoston Monotspe—3 at AFTER CALL, Capital Traction Co.—5 at 93, 10 at 93, 10 5 at 93, 3 at 93 Wachington' Gas 66 ‘33—$200 at 101 Tovest. pfd.—40 at 9 "33—$1.000 at 10255 Wachington 65 '33-$2.000 at 1025, | $1.000 ar 1025, Potomac_ Electric Cons. 55—$1,000 at 5%, $1,000 8t 985 Lanston Monotype—10 at 77, 2 at 77, 10 UNLISTED DEPT. Tiistriet Title Tnsurance Co.—50 at 13%;. Money—Call loans, 5 and 6 per cent. BONDS. Bid and Asked Prices. PUBLIC CTILITY. l!l1~ 1013 American Tel. & Telga. ds...... American Tel, & Telgn. 430 Am. Tel. & Tel. ctl. tr. 3s.. Tel. conv. 6s.... Potomac 3s. gua & . Telephone ds......... " & P. Telephone of Va. 5 Capital Traction R. R. 58 City & Suburban . Georgetown Gas 1st Metropolitan R. R. 5s Electric 1st Potomae Elec. cons. Potomuc Elec. deb. 6s. Potomac Elec. 65 1933. Pot. Elec. Pow. g. m. Wash., Alex. & Mt. Ver. Alex. & Mt. Ver. Balt & Anoap. B Gas 3s. Wush. Rwy. & Elec. gen. MISCELLANEOUS. D. C. Paper Mfx. Gs.. fX. L'd. BE. ba ty &5 (long 5s_(short) Southern Building 6%as. ‘Wash. Mkt. Cold Stor Wardman Park Hotel 6s. STOCKS, PUBLIC UTILITY. American Tel. & Telg! apital Traction. Washington Gas... ... ... No.folk_& Wash. Steamboat.. Wash. Rwy. & Elec. com. Wash. Rwy. & Elec. pfd. Terminal Taxi com Columbia Commercial Dis:rict 5 Farmers & Mechanicy Federal-American . TRUST COMPANTY. American Security & Trust. Continental Trust. Wash. Loan & Trust Commerce & Savin, East Washington. - Security Bavings & Com Seventn _Street. United States. American Corcoran . Firemen's National T Columbia Title.. Real Estate Title. MISCELLANEOUS. Merchants’ Transfer & Storage Mergenthaler Linotype Ot Natl. Mtge. & Inve 01d Dutch Market com 01d Dotch Market pfd. Lanston Monotype. Security Storage. Washiogton Mari Yellow Cab... *Ex dividend. SHORT-TERM SECURITIES. (Quotations furaished by Redmond & Co.) —Noop.— Bid. Ofter. Aluminum Co. of Amer. 7s 1025. 10255 102% Aluminum Co. of Amer. 75 1833. 107 = 107% American Sugar s 1987.. 101 American Tel. & Tel. 6s 1935 Anaconda Copper 8s 1929, ‘Anglo American OIl 7%, Associated Oil 8s 1935 Bell Tel. of Canada 5s Central of Georgia 68 1929, Central Leather 58 1925 .. Mil. & St. Paul 6s 1934 R. T & Pac 5is 1926 Col.Gas & Elec. 1st by 1927... 1t Continental Gas & Elec. 5s 1927. Du Pont 7%s 1981, Federal Sugar Ref. Fisher Body Corp. 6s 1027. Fisher Body Corp. 6s 1928, Goodyear T. & R. 8s 1931 Greath Nor. e 1936. Gulf Ol Corp. of Pa. 5148 1925. Humble 611 548 1832, Lehigh Pow. Sec. Corp. 8s 1927. . Bt P& 8 5. . 618 1031 Morris & Co. T 1930.. New York Central 6 1935. Oregon Bhort Line 48 1929 Penna. R, R. s 193( Pure Oil Bias. August, 1925 Swift & Co. 5s 1982 Tidewater Oil 8is Union Tank Car T, 8. Rubber 7 Westimgnoua . & M1 estinghouse . 78 Wheeling Steel 6s 1926 called at 102. 1931 1930, S14670,100 CALLED BYU. . TREASURY National Banks Are Asked to Remit on September Certilcate Sale. BY CHAS. P. SHAEFFER iWthdrawal by the Treasury De partment of Government funds de- posited with banks throughout the country to meet national expenditure. pending the new Federal loan expect- ed the middls of this month has again been ordered. Secretary Mellon today called on the banks of the Nation having pro- ceeds of the September 15 sal. of cer- tificates to pay into their regional members not later than Thursday, De- cember 4,8 per cen: of these ‘pro 5. he call will aggre $14.670.100, leaving beienci e $168.706,400 with the banks. Of tha total amount New York members will Ppay $3,112,000. The called amount is a portfon of 37, Orlginal loan of $330,363.500 of 25 cent one-year certificates, of which $265, 500 were in rnshpsl;uh» seriptions, remainder be Eiption r being ex With the current call 36 2.5 pe cent of the loan will have been drawn. ety 5 the Institute Nets $500, Approximately $800 was realized © the local chapter, Americ tute of Banking, from th &iven at Polis last night The audience represented the lars- est gathering of local bankers ever assembled in Washin It w estimated that more than 1,200 we present. The entire fraternity sponded with a will which . fized the esteem in which the s held b the profession. curtains H. W. Burnside, precide the chapter announced the theate party would be an annual feature of the institutes funetions. h Several hundreq remainsd = night's performanc nanimously extended at Walter Reed Inst benetit empha schoo Between . to patien Hozpital Fewer Business Fallures. Commercial failures in the United States in November were the small €st for that month since 1920, the to- tal of 1,65 compared wi 1.696 1n October 1304 in November Yyear, R. Dun & Co. announces November liabilities of $31,129,910 wer. about $5.000.000,600 below those of O tober and the emallest for the pre ent year. Loans on Stocks Decline. A decline in loans on stocks bonds s indicated in the report « the Federal Reserve Board whi showed 67 New York banks decrease cheir advances on this collater $5,000,000, while totals for 743 r. eentative institutions in all districts dropped $21.000.000 to $4,425,000,0 00 Total decline for the quarte £16,000.000. Matters Before I. C. C. Tod The Morris and Essex Railkoad subsidiary of the Delaware, Lac wanna and Western system, tod asked the Interstate Commerce Com- mission for authority to build seve miles of new line just outside of New York City. The construction, costs of which were not estimated, would enable the road to divert frelght trafic from its passenger t nals at Hoboken and lessen congestion The new line would run across the Hackensack meadows and connect up to the two branch lines of the Morris and Eseex outside the congested dis- rict. Local Stocks Firm. With one exception, prices on t Washington Stock Exchange ti morning were decidely firm. contrast was offered by Lanston Monotype, which_suffered fractional- 1y, opening at 771y and easing a haif lower on sales of 25 share Common stock of the Washington Railway and Electric Co. while in- active, widened the spread in bid and asked prices to 21t points, with being asked in today's market. Pre- ferred was unchanged, some odd-lo sales being made at i8%. Capital Traction was pegged at 93. but G was firmer, 10 shares selling at & National Mortgage and Investmen preferred sold at 9, and 50 shares of District Title Insurance sold on the unlisted board at 19% The bond level was unchanged. Personal Mention. Clarence F. Norment, chairman the board of the National Bank Washington, who is spending eeveral oft. of of weeks at Atlantic will return to | Washington next Tuesday. DAIRY PRODUCTS. BALTIMORE, Md., December 2 (Spe ung chickens, Leghorns, ~ 18a20; old hens 16a23: Leghorns, 16al7; old roosters, 14a15: young turkeys, 35a36: old. 32; poor and crocked breasts, 25: ducke. 16a22; geese, 18a25; pigeons, pair, 30; gulnea fowl. each, 40a80 Dressed poultry—Turkey poor and crooked breasts, ens, 23a27; old roosters, 13al 20a25; geese, 20a28. Eggs—Receipts—1,400 cases; and nearby firsts, dozen, 60a62. Butter—Creamery, good to fancy, 18, 40a48; prints, 48a50; nearby cream- ery, 38a42;: ladles, 30a32; store packed 22a22%%: process butter, 33; dairy prints, 24a25; rolls, 23a MARKET TRREGULAR. PARIS, December 2.—Prices moved irregularly on the bourse today. Three per cent rentes, 50 francs 50 cen times; exchange on London, 84 francs 77 centimes; 5 per cent loan, 61 france 35 centimes. The dollar was quoted 18 francs 25% centimes. il en g ALL RECORDS SMASHED. NEW YORK, December 2. —Trans action in stocks on the New York Stock Exchange established a nev high record in November with sales aggregating 42,538,400 shares, a daily average of 1851.452. The previous record was in April, 1901, when sales totaled 41,719,085, or a dally average of 1,813,873. There were 12 days in November when sales exceeded 2,000,000 shares and seven days more than 1,000,000 32a40: chick- ducks, native TREASURY CERTIFICATES. (Quotations furnistied by Redmond & Co.) ——Noop.—— Bid. Offe: 2%s December 15, 1824.... 100 41s December 15. 192 100118 s March 15, 1925 100516 4%s March 15, 1925 100 17-82 100% 4s' March 15, 1925 100516100 1333 25 September 13, 99 13-16 99 1516 4338 December 1.'1 101% 48)s March 15, 192, 101816 4i}s September 13, 1013, 43s March 15, 192 10214 414s December 15, 102 102 102! 1024y S i e FOREIGN EXCHANGE. (Quotations furoished by W. B. Hibbs & Co.) Nominal * Selling che moldTaine iy Loodon, #5005 pound Montreal, dollar Zurich, 5 Athens, drachi Madrid, peseta Vienna, crown. Budapest, crown Prague, crown Warsaw, zloty.