Evening Star Newspaper, December 12, 1924, Page 28

FINANCIAL. RALWAY SHARES | LEADBRISK RSE Advance Bolsters Rest of List and Quotations Move Violently. BY STUART P. WEST. Special Dispate to The Star. NEW YORK, December taking up of the railway by those which are expes gure | the Van Sweringen merger, was the | standing incident in today's de: H on the stock exchange. Their advance bolstered the entire list, and| the general price movement was ln-| clined upward again. H Another favorable factor was the ngth in the public utilities in re- «ponse to the announcement of the| “dollar gas” decision In the case of the Consolidated Gas of New York. The sharp decline on the preceding day had helped to correct to some ex- tent the wgak technical situation in the market, which in turn was in a hetter position to respond to favor- able news, Notwithstanding the action of the market today, it was not viewed with entire satisfaction by people whose | judgment of the financial situation | has been exceptionally good. They still believe that stocks had not had enough of a reaction. Merger News Lacking. | No authoritative information was glven out regarding the Nickel Plate | merger, and what had been the re- | sult of the negotiations which have| Leen going on for some time, But was assumed from the strength of the ¥ shares and Chesapeake and Ohio, at the holders of these stocks were ing to get all that they hoped to. he rise in \Erie first preferred, the second preferred and in C. & O.. was easily the feature in the railway sec- tion. The old Nickel Plate, the posi- tion of which has not been much dis- cussed, but is belleved to be highly | favorable, took a big jump. At 124 it was up over 5 points on the day and at much the highest figures it had ever reached. Short Covering in Steel. | Iy in stocks like United! ¢l and BRaldwin Locomotive was set down principally to short wering. Baldwin at Thursday's | low was down over 7 points from its top, and those who had been selling the stock short on-the way up were tempted with rather attractive prof- its. The same was to be said for United States Steel and General Elec- tric. On the other hand, there was plenty of American Can for sale after the s ad risen a point, Sel of the oils kept on, but with more moderation than on the! previous day The Street was im- pressed with the view that a lot of the selling in the oils’ has been “tax selling.” i Other Moves Irregular. Among the specialties realizing #ales made themselves felt in May De- partment Stores after the stock had made a new high record. Operations for the rise appeared in Phillip Mor- ris, and White Motors made a new high as it crossed 70%. Standard Plate Glass common stock broke sharply on the anouncement that the dividend | had been passed. Utah securities sold at its highest | for the year on reports of an im- pending deal between the company and Lehigh Valley Fowver. The Street was talking of a valuation of $60 a share on Utah Securities in connec- tion with the reported deal with Le- high Valley Power. The record selling prices of Chesa- peake and Ohio today were a reflec- | tion of the confidence held in thel valuation to be given the road in the Nickel Plate merger. MARKET CLOSES STRONG. 1 The States Brisk Recovery From Recent Heaviness Reported. Associnted Pross. YORK, December 12.—Stock prices made brisk recovery from re- cent heaviness in today's market, net gains in the active issues ranging from 1 to 8 points. Buying was stimulated by the announcement of no change in the rediscount rate of the New York Federal Reserve Bank, extra dividend distributions by sev- eral industrial companies and favor- able trade news. Sales approximated | 1,700,000 share: The closing was strong. Buoyancy of several industrial specialties fea- tured the late trading, Nash Motors extending its galn to 7% points, Iron Products to 6 and Mack Truck, Gen- eral Bakinz, Railway Steel Sprlnl{’ and du Pont being marked up 3 to 5 voints. i i Markets at a Glance : EW YORK—Stocks strong; Van Sweringen rails at new highs. Bonds firm; convertible rail lines in demand. Foreign exchanges reactionary: Dutch guilders drop 16 points. Cot- ion advanced; firmer spot markets. Sugar irregular. Coffee higher; trade buying. CHICAGO—Wheat strong; increased | foreign buying. Corn higher; bullish crop estimates. Cattle lower; slack demand. Hogs steady to higher, \ FLOUR PRICES HIT NEW HIGH LEVELS Advance of 30 Cents Per Barrel Follows Rise in Wheat Values. | By the Associated, Press. MINNEAPOLIS, Minn., December 12. | —Flour prices today went up to new high levels when one mill boosted its quotations following the rise of wheat vesterday. One grade, when sold In car lots, was quoted at $8.85 a bar- increase of 30 cents over yes- BIG CANNED GOODS CARGO. BALTIMORE, December 12 (Spe- cial).—Carrying one of the largest cargoes of canned food ever brought inte this port, the Pacific Mail liner Santa Olivia docked here yesterday after a rough voyage from San Fran- cisco. In her hold were 4,000 tons of Western fruits, vegetables and sal- mon for the East. MRRRE & LESS FURNITURE MADE. CHICAGO, December 12 (Special).— The output of furniture in this district 5 per cent lower now than a year ago, although the volume of new business has increased over 4 per cent during the last month. Production is gradually expanding, with firms reporting themselves as a month be- hind orders. ZINC DEMAND STRONG. NEW YORK, December 12.—Stocks of zino decreased 11,540 tons-in Nov- ember, the largest reduction in any month since May, 1922. Shipments of 54,173 tons also were the largest for amy month in the history of the industry, - except during the war Cul Cuyames Fr (4). = THE EVENING STAR. WASHINGTON. D. C. FRIDAY. DECEMBER 12, 1924 NEW YORK STOCK EX Received by Private Wirg Direct to The Star Office Abitibi Pow (4). Adams Exp (6. . | Adv Rumley. Ad Rumly pf (3) Air Reduct (15). Afax kubber Am Agricul Chm Am Ag Chm pf.. Amn Bk N(112%). Am Beet Sug (4 Am Boscn. . Am Can (16). Am Cau p: (7 Am Car & ¥.(12) Am Chain A (2). Am Chicle...... Am Drug Snyd. . Am Express (6) Am & F P 267 |AmFPfpt (7 A Hide & Lea. Am Hide & L pf. Am LaFrance (1) Am Linseed Am Locomo (6). Am Metal (3)... Am Radlator 4) Am Ry Exp (8§) Am Roll M pf (7) Am Safety Raz. . Am Ship & Com. Am Sm & Ref { AmS & R pf (T Am Stl Fdys (3). Am Sugar...... Am Sugar pf (7). Am Sumatra.... |Am T & Tel (9). Am Tob (n). Am Tob B (n). Am Typ Fdrs (D) Am Water \WWks. Am Woolen ... Am Wool pfd (7) Am Writ Pap pf. Am Zine. Arn Cons & Co.. Assets Realiz. Ass0 Dry G (5) Asso Ol (1%).. AtT& S Fe (6). AT&SF pf (5). At! Birm & At... Atl Coast L (18). AtGulf& WI... AtGulf & W1pf Atlantic Refining Austin-Nichola. Austin Nie pf (7) Baldwin L (7). Bal & Ohlo (6) Bal & Oh pf (4) Bangor & Aroos. Barnsdall A.... Barnsdall B..... Beechnut (3)... Bethlehem Steel Beth St pf (7). Beth Stl pf (8).. Booth Fisheries. British Emplre. . BK1 Edison (8).. Brk-Man Tran. . Bklyn Man pf (6) Brklyn Un G (4) | Brown Shoe (4). | Buff & Sus (918) Burns Bro (J0) Burns Br B (2).. Burns Br pf (7). Butte Cop (§0c). Eutte&Superior. Butterick Co. . Cal Packing (6). Cal Pete (1%). Callahan Zine. Calu & Ariz (2). Calumct & H 50¢ Canada Sou (5). Can Pacific (10). Case Threshing. Cent Leather.... Cent Leather pf. CRRNJ (112).. Cero d Pasco (4) Certain-Taed. . Certain-T 1st (7) Chand Mot (3).. Ches & Ohio (4). Ches & O pf (6%) Chicago & Alton Chic & Alton pt. Chic & East 111 Chi & E 11 pf... Clic Gr We Chic Gr West pf. Chi Ml & StP... Chi M)l & SP pf. Chi & Nwn (§)... Chi & Nw pf (1), Chi Pneu T (5) Ch{R1& Pac... CRI&P DL (6). CRI&PPL (D). Chi Yellow C (4) Chile Cop (2%) - Chino Copper. . Cluett Peab (5).. Coca-Colo (7). Coca-Cola pf (7). Colo Fuel & Iron Colo Southern. . Colo Sou 2d (4).. Col G & E (2.60). Col Gas & El1 pf Col Carbun (4 Com Inv (2.50).. Com Solv A (4).. Com Solv B. 1 Com Solv rgts. ... Congol-Naira(3) Consol Cigar. ... Con Cigar ot (1) Con Distributrs. Consol Gas (5).. Consol Textile. Cont Can (4). Cont Can pf (7). Cont Insur (6).. Jont Mot (80¢).. Corn Prod (2)... Cosden Co. ... .. Crucible St1 (4). Crucible pt (7).. Cub Am Sug (3). Cuban Cane Sug. Supt.. 'ub Cane 4% 63% tel Boone 7 Den 4% 9. 1084 108% 114% 111% 38 60% 98% 5 10 82 4l% o4 54 b 21 2% 124% 122 38% 3% 73% 73% 81% T9% 70% 69 87 87 05 i02% 24% 100 100 z1% 13% 89% 45% 814% 78% 113% 1 9014 494 45% 103' 103% 50% 50% 63% 53% 106% 24% 24% 3% 1% 96% 6%, 29% B29% 13% 13% 57% b56% 4% 4% 65% B3% W% 7 43% A% - 81% 81 DelL& W (6)... Detroit Ed (8)... Dome Mines (2 Doug Pectin (1 Du Pont (8). Eastman (18). Baton Axle. . Eiec Stor Bat(5) 110% 13% 644 11% Erie. . 81% Erie 13t D! Erie 2d pf “€xchang Fairbke {2.60 Famous Pl (8 Famous pf (8).. Fed Lt & Tract. . Federal Mines. . Fed Mines pf (1) Fisher Bdy (10). Fisk Rubber. . Fish Rubber pf. . Fleischman (14). Foundation (6) Gen Am Tnk (3). Gen Asphalt. ... n Baking (6) . n Clgar (8)... Gen Electric (8) Gen El spl (60¢). Gen Motors (8) Gen Mot pf (1) Gen Petrol (2)... Gimbel Bro: Glidden Co Goodrich. . Goodrich pf (7). Goodyear pf.... ‘Gdyear prior (3) Granby Consol. . Gray & Davis Grt North pf (5). Grt Nor Ore (4. 18 4 7 . 88% Grt Wetn Su (8). Gt Weat Spf (1) 115 26 N of (6 86 Gulf St Steel (5). 79% Hartmaa Co (4). 131 130 142 130% 114% 113% 18% 13% 16% 164 134% 132 110% 110% 32% 94 93% 106 106 114 108 18 18 324 96% 96% U5 114% 7% 27% " 26 86 86 81% 79% 3% 3% Hayes Wheel (3) Hayes W pf(71) Househ P (13%). Houston Ol Hudson Man.... T4udson Mot (3. “41upp Motor (1). Hydraulic Steel. Difnots Cent (7). 1l Cent pt (6)... Independ Ol (1) Indian Motoreye Indian Refining. Ind Ref pf (7)... Intand Stl (23%). Inland Stl pt (7). Inspiration Cop. Interb Rap Tr... Internat Agri. .. Int Bus Mac (8). Int Cement (4).. Int Com Eng (2) Internat Har (5) Int Mer Marine. Int Mer Mar pf.. Tuternat Nickel. Internat Paper.. lut Ry Cent Am. Inter Shoe (5)... Int Tel & Tel (6) Invincible Oil... Iron Prod (4%).. Jordon Mot (3).. Kan City South. Kayser (Jullus) Kelly-Sprigfield. Keisey Whi (6). Kennecott (3).. Kresge Dep Str. Kresge SS pt (8) Lee Rub & Tire. Lehigh Val ¢3%) Lig & Myrs (3).. Lig & Myrs B (3) Lima Loco (4). Loews Iho (2) Lorrillard (3) Louils & Nash Ludlum (2). McCrory (1.60) Mclntyre (75c). . Mack Trucks (6) Mack T 1st (T) Mack Trk 1st p facy H R & Co gma Copper. Mallinson & Co. Manatl pt (7). Man E! Sup (4) Man El md g (5). Manhat Shirt (3) Manila Elec (n). Maracaibo Ol1. Marland Oll.. Martin-Parry 4. Mathieson Alka. Maxwell Mot A.. Maxwell Mot B. . May Dept St (5). Metro Ed pf (7). Metro G pf £1.89) Mex Seabd {2).. Miami Cop (2). Middle States MidInd Pr pf (8). Minn & St Louis. Min StP &SSM Mis Kan & Tex.. Mis ¥ & Tex pf.. our! Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Mullins Body. . unsingwr (3) Nash Mot (110) Nat Acme..... Nat Blscuit (14). Nat Cloak & Sut. Nat Cl1 & S pf () Nat Dairy (3)... Nat Enamel &S. Nat Lead (8). . Nat Ry Mex 2d Nat Supply (3).. Nevada Copper. . NOT&M 123%.. N Y & Harl (5).. SN Y & Harl (5). NYAIrBr(4).. NYAIrBrA () N Y Canners (2). N Y Central (7). N Y C&StL (6). NYC&StL pf (6). N Y Dock pf (5) NY NH & Hart. NYOnt & West. Niag Fls Pow (2) Niagar F pf 1%. Norfolk South.. Norf & W (15). .. Norf & W pf (4). North Am (3.40).. rth Am pt (3). North Pac (5)... Ohio Body & B.. Orpheum (1%).. Otis Elev (16%).. Otis Steel. Otis Steel pf. Owens Bot (3). Pacific Gas (8) | PacificOll (2)... Packard (11.50). Packard pf Pan-Amer (4). Pan-Amer B (4 Panhandle. Pennsy RR (3).. Penn Seab Steel. Peoples Gas (8).. Pere Marq (4)... Pere Mar pf (5). Pere M prior (5). PhilaCo (4)..... FhilaCopt (3).. Phila& RC&I. Phililp Morris. ... Phil-Jones pf (7) Phillips Pet (2). Plerce-Arrow. .. Plerce-Arrow pf Plerce-A prior 8. 24% 2% 96% Pit Pitts Ut pt (1.20) Pitts Ut ctfs 1.20 Pitts & West Va. Pitts & WVa rts. Postum Cer (4).. Press Steel Car. Prod & Refiners. Pub Ser NJ (5). Pullman Co (8). Punta Al Su (5). Pure Oil (1%)... Radio Corpof A. Radio C pf (3%). R Keading 18t (2). | Remington Type Reynolds 8p (1). Rey Tob B (3)... Roy Duth 4.42%. St Joseph 1Ld (2) StL & San F (6). St L San F pf (6) Seabd Alr L pf.. Sears-Roebk (6) Seneca Copper. Shattuck-Aris. Std Gas & Kl z Stand Mill (5). .. 8t Calif (2) StOUNJF).... StOl N Ipf (D). 87% | Stand PIGI (3). . Opea. 36 101% 101% 3€% 364 4% 264 33 28% 43% 48% 129 40% IS?% 36% 116% 1% High. Low. Close. 36 36 101% 101% 364 86% 36'% 73% 27 84% pid 1 116% 115 10 1% 4% 5 45% 107% 80% 32% 6% 110% 59 36% 106% 13% 44% 23% 51% 16% 114% 47% 54 36% 25% b4 I Tide wat Oil (4). | 344 14% 49% 92 1% 5% 52% 16% 15 % 40% | Y BONDPRIGES RALLY | e o BONDS o s Private Wire Direct to The Star Ofice. INTRADING TODAY Federal Reserve’s Failure to Change Rediscount Rate Helps Market. BY GEORGE T. Special Dispatch to The Star. NEW YORK, December 12.—High- er prices for speculative rails and some of the tractions gave an ap- pearance of strength to today's bond market. The leaders were Chesapeake and Ohio convertib'e 5s, which made an- other nelv high above 108, keeping pace with the advance in the stock, and the Erie issues generally. Of the latter the general 4s were very strong, up a point and a half, while buying at advancing prices appeared in the convertible series. St. Paul bonds staged a rally, the 6s of 1925 and the 438 of 1932 cach gaining a point or more. There was a_ gain of a point or so in Seaboard adjust- ments. Traction Issues Feature. In the tractions the Interborough issues provided the feature. The re- funding 58 got back about all’ of Thursday's loss. The market for the 6 and 7 per cent notes was also bet- ter today. Chicago Rallways bs were higher, but below the high made earlier in the week. No particular enthusiasm was shown for industrial bonds. Cuba Cane Sugar 8s were heavy below par. United States Rub- ber 58 dropped back fractionally. The copper bonds were just about steady. Among investment bonds there was great irregularity. First mortgage rails were lower, with the notable exception of B. & O. first 4s, for which there was an unusually heavy demand. Liberties were practically unchanged. For the heaviness in the high-grade rails indications of firmer money were probably responsible. Trading in New Notes. No_improvement was apparent in the foreign group. Reports-of new foreign financing were numerous, in- cluding a Greek and a new Belgian loan. There was talk that some time next year France might again call upon American bankers. An interesting feature of the out- £ide market was the inauguration of trading in the Missouri Pacific 7 per cent notes which will be issued in payment for New Orleans, Texas and Mexico stock and be secured by the stock as collateral. The notes were today quoted, 99% bid and 99% asked, MORGAN OAN B BODST DFRANCE Funds Playing Powerful Part in Steady Rise in Bond Values. HUGHES. By the Associated Press, PARIS. December 12—The Morgan loan to France is playing an impor- tant part in the continued upward trend here of the 3 and 5 per cent bonds or rentes, as they are called. Proceeds of the loan, available as a guarantee of immense purchases of rentes, brought a steady rise during recent weeks. Such is the opinfon of {many French financiers, including {Senator Henry Berenger, former re- porter of the budget in the upper house. Four weeks ago the 3 and 5 per cent rentes were quoted at 48.00 and 58.25, respe Since the Morgan {loan was voted by the Senate and Chamber, November 22, both these is- sues have steadily improved, the 3 per cents today being quoted at 51 francs and the 5 per cents at 62 francs 60 centimes. The complete success of the French internal four billioh franc loan which | closed Wednesday, the balance of | trade now in favor of France, and the money market recovering its resil- iency in respect to government bonds, | are other symptons causing bourse | experts to be optimistic regarding the | continued upward ‘movement in | rent : 634 63 66% 42% Sterling Prd 515. Stew Warner (5) Stromberg (6).... Studebaker (4). . Submarine Boat. Superior Oll.... Sweets of Amer. Telautograph... Tennessee Coppt Texas Co (3). 4 i Tex G Sul(f7% Texas & Pacific. Tex & PacC &0 { Third Avenue. . 681 63% 66 44 Timiken (18%).. Tobac Prod (6). . Tobac Prod A (7) | Transcont OlL.... | TWin City (4)... Underwood (3)... Un Bag & Paper. | Union Oil (1.80).. Un Pacific (10). Un Paopf (4)... Utd Cigar (13%) United Drug (6). Utd Drug 1st 3% Utd Ry Invest. .. Utd Ry Invest pf U S Cast Iron P. T S Distributing U S1nd Alcohol. US Realty (8)... U S Realty pf (1) U S Rubber. . | 57% 30% U S Smtpf (3 1 (17 U S Tol Universal Pipe Univer P pt (7) Utah Securities. v Va Ry & Power. Vivadou waldorf (1%). Webber & H (1), West Pen (4)... West Pen pf (1), West Maryland. West Md 2d pf.. Western Paclfic. ‘West Pac pf (6). West Air Br (6). Westinghse (4) . ‘Westhse 1st (4). Wheel & L Erle. White Eagle (2) ‘White Mot (4).. wilson & Co. ‘Wilson & Co pf. Willys-Overland o xtra. abl Ditideed fatte. ue giren are the anmual ca: Totherw .‘r:t:;‘nl,num ve “table based on the FOREIGN. Argentin, A Canada 65 1931.. Canada 6s 1952, 25 Canada 5%s1929. . I 12 Chile 8s 19: Chile 85 1946. . Chinese Gov Ry b Christiania 8s. Czecho 88 1952 ct.. Danish Munic 8s B Denmark 6 Denmark 8 DEI6%sMch 53 DEIG5%s Nov '53. Dutch utch East I 6s'62 ST Salvador 8s 48. Finland s f 6s 1945 Framerican 7% French 7s w | French Govt T%s. French Govt 8s. Germany Tswi Hait1 61 Hollan Jergens U M 6347 Lyons 6s. ; Marseille 65 Montevideo 7 Netherlands 68 '54 Netherlands 6s°72 Norway 6s 1943 Norway 6s 1944 Norway 6s 1952 Norway 8s. Ortent Dev de! . ‘Low. Close, 83 83 % 95 95 102 102 961 96% 98% 954 100 100 94 94 109% 109% 107% 107% 1 92 101% 101% 102% 102% 1024 102% % 106% 106% 46 46% 109% 109% » 99% 99% I6s°47 2 102% 102% 874 87% 93% -93%% 94 9444 100 100 104% 104% 90BY% 96 100% 100% 102% 1024 98% Y% 98 9844 Paris-Ly's-Med 6s 2 Paris-Ly's-Med 78 Paris Orleans 7; Prague,7%8s Queensland Queensland 7 . Rio de Jan 8s 1946. Rio Gr Do Sul 8s. . Sao Paulo State 8s Seine Dept of Ts. . Serbs Cr'tes Slo 8s Sweden 6s. Swies 63%s Ud Kingm 6%2s Ud Kingr: 5%s 37 Uruguay 8s - Zurich 8s. Ajax Rubber 8s. Am Agr Chem 7 AmChainef 6s'33 Am Smit&R 13t bs. Am Smit & R & Am Sug ref AmT& Teltr Am T&T cl tr 6 Am T & T deb5k%s AmT& T cv 6 Am Water Wks Am Writ Paper 6 Anaconda 1st 6: Anaconda cv db 7s Armour & Co 4%s. Armour of Del 5% Atlantic Refin bs.. | Barnsdall s 1 8s Bell Tel Pa 5s Beth Steel pm Beth Steel 5% Beth Steels Central Leather bs Chile Copper 68 CinG & E5%s'62 Col Gas & E15s. .. Col Gas & El 5s sta” Commonwth P 6s. Con Coal Md 1st bs Consumers Pow 5s Cuba Cane cv 7t "3( Dery (D G) Det Edison bs Det Edison ref Donner Steel 7s Du Pont de N 7% Duquesne Light 63 Est Cuba Sug 7! Empire G&F 7% Feder Metls 7s'39. Fisk Rubber s Goodricn sa%:sn oodyear 88 gooaim 851941 Hershey 65 1942. Humble N&R 5% Tllinols Bell 1st bi Illinois Steel 4%s. int Mer Marine Gs. CP & Lt Toan G & K168 '62 Keyser (J) 7s. Kelly-Spring Lackawa S 5350 | Liggett & Myrs bs. Liggett & Myrs 7s. Lorillard (P)vs‘ll gma Cop ¢ 'flim‘ Sug sf 7%¢ Marland Oil 7%s. . Marland Oil 85°31. Maxwell Motor 7 Midvale Steel & Montana Pow §s. Mor's&Co 1st 43| N Nor States Pow 6. Northwst B Tel 78 Otis Steel 7% Otis Steel 88 Pacific Gas & El 58 Pac Tel & Telbs. . Pacific T & T 53°62 Pan-American 6s. Pan-Amer Pete 7s. People’s Gas Pnn’i Cob%s'38.. Phila Coref 65 A. . Phil & Rdg C&I b8 Pierce-ArTow 8s.. Plerce Oll deb 83 Producers & Rf 35. Public Service bs. Punta Alegre South Bell Tel bs. MISCELLANEOUS. 109% 109% 4% 94% 95% 95% 100% 100% 91% 91% 85% 86% 88 8 9915 993 103% 103% 100% 100% 66% 66% 114% 116% 104% “104% 105 105 1 4 110 110% 95 95 1 96' 96'% 11 95% 944 7 1056% 105 105 11 99% 994 99 46 96% 96la 965 13 100% 100% 100% 36 102 101% 101% 1 124% 12415 124% 5 92% 924 924 5 45 45 45 36 994 99 94 38 101% 100% 101 14 857 B854 85l 11 90% 90': 90% 6 98T 987 98T, 5 10212 102% 1024 14 100% 100% 100% 10 91 90': 90l 95 95 9643 95% 1 12 1074 1071 1074 45 100% 100%: 100% 29 108 107% 107% 15 102 101% 1015 2 100% 100% 100% 5 100% 100'a 1004 11 9T% 974 97% 10 87% ®7%- 874 2 90% 90% 90% 2 95% 95% 9% 18 499% 99, 995 5 108% 108% 108% 7 92% 92% 921 1 76 5% T5% 6 99% 99% 995, 7 107% 107 107 96% 1007% 101 9 108'5 108% 108'¢ 11 100% 100% 100%: 13 109 108% 109 12 119% 119% 119% 1 103% 103% 103% 45 99% 99% 99% 2 97 V 93 89% 86! 957 89% 861 957 97% 1 101% 101% 101% 1 96% 96% 9% 2 90% 90 90 12 98% 93 9% 18 118'% 118'% 118% 3 967 96% 96T 21 118% 118% 118% 2 1004 100% 100, 1 105% 105% 106 1 106% 106% 106% 225 107% 106% 107% 32 87% 874w 87% 1 ST 97% 974 1 79% 79% 79% 5 99% 99 99% 10_113% 118% 113% 11 108% 16 97% 9 93% 1 103% 52 107% 6 92 2 98% 22 93% 8 99 10 93% 107% 107% 1% 91% 98% 98% 93 103% 105 82% 88 So Por Rico SugTs 1 thwest Bell 5i Sog Bst Oricnt s, Tenn Elec Pow 6s. Tide Wat O1l 6% Warner Sug 7s ‘Warner Sug 7s West Eleo §s. West'n Union 6%s Westinghouse 7s.. Wickwire Spen 7s. Willys-Ov 6%8°33 Wilson & Co 1st 63 9. ‘41, Wilson & Cocv 6s. 34 Winchester A 7% Youngstn S & T s % 3 103 }02% iozx 86% 8R% BEX 4105 106 105 1 101% 101% 101% 1 104% 104% 1% 4 29 20 51 98% 98% 984 1 110% 110% 110% 4 10T% 107% 107% 2 78% 8% 78% 7 99% 99% 9% 9 91% 91k 9% 55 54% 58 101% 101% Yoy 9% 3 102 2 W UNITED STATES BONDS. les 1o saree. i Low Lib34s. ...... 209 101 Lib Ist 43(s. Lib 24 4%s 102-27 100-28 48 101-73 101-18 101-23 . 420 100-31 100-26 100-27 Lib3d 4%s.... 198 101-8 101-3 101-5 Ldb 4th 43s. . 1284 101-31 101-29 101-81 US4%81952.1717 106-7 105-3 105-7 Low. Close. 88% 88% 82% 82% 86% 87 89% 2 SW aiv 3%s & O Toledo Bklyn-Manhat 6s. 11. Buff R. & Pitt 4%s Canada South bs. . Canad North 6%s. Canada Pac deb 4s Car Clinch & O 6s. Central Pacific 4s. Cent of Ga s, Chi&131gn 6 Ch) Great West 4s. 33 CM & Puget Sd 4s. 15 Chi M & St P 48°26 272 CM&StPdb4s.. 6 Chi M&St P cv 434 54 ChiM&St P rf 4348 92 Chi Un Sta 41 Chi Union Sta 6s. . Cil & W Ind cn 48 Chi W Ind 7%s. CCC&StLS g CCC&StLrf6sA. Det United 4%s. Erle 1st cons 4s. Erle gen 4 Erle conv Erie conv Erie conv4sD....3: Gr Trunk st db 6s. Gr. North gen 53%s Gr North gen 7s... 9 Havana ERL&P 5s Hud & Man ref s Hud & Man aj 3s.. 11l Central ref 4s. . 11l Central 53)4s. .. Int Rap Tran bs. Int Rap Tr 5s stpd. Int Rap Tran 6s. Int & G Noraj és.. Iowa Cent 1st 5s.. Kan City Ft S 4 Kansas City S 3s. Kan ity Term 4s. Lake Shore 4s'3. Louis & N unl 4s. . Louis& N5s B Louls & Nash Manhat Ry cn 4 ] Man Ry 2d 4s 2013.. 12 Market StRy 7s.. 14 M&StListrefds 3 M StP & SSM 645, "ll Montrl Tm 18t 5 NewOr Term 43 N O Tex & M In N O Tex & M 68 B. NO Tex & M 5%s N Y Cen gen 3148 N Y Cent deb 4s NYCentri N Y Cent deb NYCenLSclin NY Chi & St L5%e1 5 ¢ wnalaa 88 1 NewHaven cd s New Haven 7s.... New Haven 7s fr. 278 New York Ry rf 4s 12 NYRyrf4scifs.. 6 New York Ry ajbs l: Norfolk & W cv 68 Northern Pac 4s. . Northern Pac ri6 | Ore & Calif 13t bs. | Ore Short Liref 4s. Ore-Wash 1st rf 48 Ore Sht L cn 68 '46. Pennsyl gen 4%s. Pennsyl gen b Pennsyl 6%8. Pennsyl gold Pere Mara 18t 6s.. PCC&StLGsA. Por R L & P 6547 Reading gn 4% RIArk & L4% St L IM&S R&G 4 |StL&SFplisA. 86 StL&SFprinbs. 14 StL&SF56%sD.. StL&SFadjés.. 44 St L& S F Inc 6 StL&SFplésC StLSW lst & o Southern Ry &n 4s Southern Ry 1st'68 Southern Ry 68 ct. Southern Ry 633s. | Term AssoStL4s. Toxas & Pac st bs R tom Salx - ROAN ~ONA~~RORO a0 T on Pac 1st 4s. . Unlon Pac 1at rf &t Union Pac 48°37... Union Pacific cv 68 Virginia Ry st bs.. - ‘Western Pacific 58 ‘West Shore 1st 4s. Wikes-B&E 1st bs. 20 Wisconsin Cent 4s 4 SAelioih guin h FOREIGN EXCHANGE. (Quotations furnished by W. B: Hibbs & Co.) Nominal Selling checl gold vaive. totas London, pound . Montreal, dollar .. ne . LIVE POULTRY LOWER. | CHICAGO, December 12.—Poultry, alive, lower; fowls, 15a19%; springs, | % | compared ~ with 632,000 for ¥ | provea technical position of the mar- sland | CHICAGO LIVE STOCK MARKET % | Goodyen | steer FINANCIAL. COTTON QUOTATIONS ARE STRONGER TODAY Cables and Bullish Spot News From South Help Buoy Up Market. By the Associated Press. NEW YORK, December 12.—The cotton market opened firm today at an advance of 11 to 20 pgints on a continuation of yesterday's covering movement, promoted by steady Liv- erpool cables and bullish spot advices from the South. Trade buying and covering on the advance ‘carried prices up to 23.05 for January and 23.43 for March, or about 20 points net higher. Rumors that private returns point- ed to domestic mill consumption of only 500,000 bales for November, October, and reports of continued small busi- ness in cotton goods, led to realizing on the advance. Southern hedge sell- ing also was reported, but the m ket held steady within 3 or 4 points g | Of the best at the end of the first hour. New Orleans Quotations. NEW ORLEANS, December 12.—The cotton market displayed a firmer tone the opening today in sympathy with mych firmer Liverpool cables than expected. First trading showed gains of 16 to 19 points. Although prices dropped back a few points on realizing, the market soon rallied and January traded up to 23.31, March to 23.35 and May to 23.61, or 18 to 19 points above yesterday's close. The firmer tone was attributed to the bet- ter demand for spots and the im- ket coupled with the steady absorp- tion of contracts by trade interests, shorts finding contracts scare when- ever they attempted to cover. NEW HIGH RECORDS IN GRAIN MARKETS Wheat at New Peak for Season. Gain of 4 Cents Per Bushel. By the Associated Press. CHICAGO, December 12.—Grain markets on the Board of Trade were on the upgrade from the start today with a decided enlargement in commission house buying, wheat went to a new high price record for the season. Shortly before the close May wheat commanded $1.68% a bushel, an advance of 4 cents to 4% since vesterday's finish. —_— CHICAGO, December 12 (United States Department of Agriculture).— Hogs—Receipts, 62,000 head; fairly active; steady to 10 cents higher; top, 10.00; bulk good and choice, 225 to 325 pound butchers, 9.55a9.90: 130 to 210 pound average mostly, 8.65a9.40; bulk, 140 to 170 pound weight, 7.25a £.00: bulk packing sows, 9.00a9.25; majority strongweight slaghter pigs, 6.50a7.00. . Cattle—Receipts, 7.000 head; fed trade ver: dull; few sales steady to weak, with recent uneven and sharp declines, excepting cholce | vearlings, market $1 or more under choice kind offered today: bulk, 9.00, dowflward: some yearlings held around 13.00; many medium to choice { weighty steers heing held off mar- | Ket: some 1.690-pound averages late | yesterday, 9.60, grading choice; she stock about steady; fat cows mostly 3.75a4.75; canners, largely 2.50; bull trade lifeless; vealers steady: choice kind to packers upward to 9.50; less desirable 1ight offerings downward to | 8.50 and below. Sheep—Recelpts, 12,000 head; fat | lambs steady to 25 higher; bulk fat na- tives and few westerns, 1 fat sheep and feeding lambs steady: bulk fat ewes, 6.50a8.50; de- sirabie feeding lambs, 14.75a15.50; full mouth breeding ewes, 8. CHICAGO GRAIN PRICES. CHICAGO, December 12.—With evi- dence at hand that all the current deliveries on December wheat con- tracts are being shipped out of Chi- cago promptly, wheat prices today took an upward swing almost as soon as business began. Unexpected firm- ness of wheat quotations at Liver- pool tended also to lift values here. Besides, there was renewed buying on the part of houses that have recently been sellers to realize profits. The opening. which ranged from 1 de- cline to 3% advance, with May 1.64 to 1.65 and July 1443 to 144%, was followed by material gains all around. Corn and oats sympathized witl wheat strength. Reports of further rain in Argentina had only.a tran- sient bearish effect. After opening unchanged to % lower, May 1.26% to 1.27, the corn market scored a mod- erate general advance. Oats started unchanged to May 62% to 627. Later, months showed an upturn. Provisions developed strength when the corn market went higher. Low. 1393 el 1645 T44p 3% off, all the (Quotations furnished Aluzminum Co. of Amer. Aluminum Co. of Amer. Awerican_Sugar 6s 197 American Tel. & Tel. 85 192 Anaconda Copper 6s 1029....... Anglo-American Ol 7is 1925.. 101 Assoclated Oil 6s 198 Rell Tel. of Canade Central of Georg! Central Leather Gpt. A, Columbin Gas Ref. Fisher Body Corp. 6s 102 Fisher Body Corp. 6s 1928. r T. & R. Ss 193] e 1 11 Westinghouse B & M. Ts 1031 107 Wheeling Steel 6s 1026, called at 102, TREASURY CERTIFICATES. (Quotatfons furnished by Redmond & Co.) ——Neoop.——, Bid. Offer. March 15, 1925 « March 15, 1925, 00 lw,r 935.. 99 1516 100 1.32 15 1025... 101% 1011182 1017-16 101 9-16 101 101 102 102! 102 102! RATES ON BAR SILVER. | institution, week earlier; very slow at decline: no | 5, {shares of Railway SAVINGS BANKS ADD 10 SURPLUS FUNDS More Dividends Voted—New High Record Made on Local Board. BY CHAS. P. SHAEFFER. Additions to the surplus account of two local savings banks, announced this morning, furnish further evidence of the prosperity enjoyed by this class of Institution ~ during the present calendar year. The United States Savings directors have ordered the transfer of $50,000 to surplus, and directors of the Ana- costia Bank have ordered a similar transfer of $15,000. Both these in- stitutions are “honor banks,” which mean they have a surplus equal to or in_excess of capital. The United States Savings Is $100,000 with a surplus of $150,000, while the Anacostia has a $50,000 capitalization and $65,000 of surplus. The former institution, located xt Fourteenth and U streets northwest, also declared the regular quarterly dividend of 714 per cent, pavable to stockholders of record on December 31, while the Anacostia Bank declared its regular semi-annual dividend of 4 per cent, payable on January 2 to stock of record December 31. The United States Savings is the largest dividend payer among local banks, being on a 30 per cent annual basis The Farmers and Mechanfes' Na tional Bank also announces declara tion of theip regular dividend of £i per share, payable January 1 stock of record December 26. Initial Dividend Declared. Directors of the National Mortgage and Investment Corporation have de clared an initlal dividend of 1 Der cent on the common stock fssued and Qutstanding in addition to the reg- ular semi-annual dividend of 4 per cent on the preferred stock. Both are payable on January 1 io stock of record December 20. The corporation reported an oper- ating capital of $3,791,000 at the closs of business December 1 last, of whici $560,696 Is surplus and in reserve. H. Rozler Dulaney is chairman of the directorate, while the corporatio is officered by the following: Georg E. Walker, president; Frank J Hughes, vice president and geners manager; William D. West, treasure and Col. Marvyn C. Buckley, tary. New Records on Exchange. Two Washington bank stocks « tablished new all-time high record on the Washington etock exchang today when one of the most acti: and diversified sessions of the yea was held. American Security and Trust Co stock enjoved an initial sale of tw« shares at 306, but thereafter cased off to 305 on subsequent sales o 15 shares. The highest previous price for this issue was 305. Stock of the Columbia Nationa Bank, hereto fore publicly inact during 1924, today sold at 265 to th: extent of five shares. Prior to th advent of Frank J. Stryker as activ: head but a relatively short tim. ago. which coincidently began the revitalization of this oid established the stock was bought privately at ranges between 215 and 225. At the close of today's sessio) 260 was “bid,” with 300 sked.™ The tenor of today's market w decidedly firm. Gas Light stoc. brought 53%, later easing off to on sales of 200 shares, and s preferred sold 78%. National Mortgage prefer sold to the extent of 140 shares n: 912 and 9%, and 35 shares of Lan- ston brought 76. Investment trading was confi to local utility bonds at strong bu unchanged prices. Banker Sees Prosperity. General confidence in the sount ness of business conditions of th. country and the outlook for expand ipg prosperity was expressed by Wil- liam E. Know, president of th- American Bankers' Association, In Statement last night Summarizing th 100 jViews of bankers attending a meet ing here of the assoclation's admin- istrative committee. “A particularly encouraging sign." said Mr. Knox. “is that they find spirit of optimism is tempered by an attitude of judicious caution. T lessons of other periods of busine expansion. which finally became lnn_lr(l by speculation resulting in evitable collapse, have not been fo gotten. “It this ‘attitude continues, we max look for a sustained era of well dis- tributed prosperity, which will bene- fit all classes in our country. The bankers, for their part, are commit- ted to excrt their influence on tI {side of sound, orderly business ond industrial progress.” Class Elects Oficers. The banking fundamentals class o the American Institute of Bankin: held an clection of officers for th ensuing vear ladt night, resulting i t following: President, Robert Flather; vice president, Jefrri, (‘pewn!ns 3 secretary, Robert Whitton: assistant secretary, Willjan Roberts: treasurer, John H. McLea: und publicity manager, Edwin H. Co nick. GRAIN AND PROVISIONS. BALTIMORE, Md., December 12 - new, 100 Ibs. swaet po- bar- 0; broccoli an bushel, 40a50; brussels sprou . quart, 8al5; cabbage, 100, 3.00a5.00. savoy, bushel, 50a65; carrots, 100, 26.00; caulifiower, crate, 1.50a: ery, crate, 1.75a4.00; cu, egsplants, 3 I basket, 1.50a2.50 onions, 100 pounds, 2.75a2.00; oyster- plant, 100, 6.00a8.00; parsnips, bas- ket, 50a60; peppers, crate, 5.25a5.50; pumpkins. 100, 15.00a26.00; spinach, bushel, 56a7s; squash, crate, 3.00s 4.00; tomatoes, crate, 3.5026.50; tur- nips, basket, 25a40. Apples. packed, bushel, 75a2.00; loose, basket, 40a7. box apples, 2.00a3.00; cranberries, box, 6.50a7.50; grapefruit, box, 1.5 2.50; oranges, box, 2.00a3.75, Selling Prices at Noon. Wheat—No. 2 red Winter, spot, 1 No. 2 red Winter, garlicky, domest 171%; No. 3 red, Winter, garlicky, 1.67%. Sales—None. Corn—Cob, new, yellow, spot, 5.70 and 5.75 per barrel; track corn, yel- low, No. 2, old, 1.42%. Sales—None. 3, 64. Rye—Nearby, 1.10a1.25; No, 3 rye, spot, 1.40. Hay—Receipts, 11 tons. There is a limited demand for the better grades of timothy and choice light clover- mixed hay, of which class of stock the supplies are not excessive. Me- dium and low grade hay of all de- soriptions is in ample supply and hard to _move at any price. Quotations today—No. 2 timothy, 19.50820.503N barrel, 3.00a7. new, 65 per bushel; No 0. 3 timothy, 16.00a18.00; No. 1 light clover, mixed, 18.50a19.00; No. 1 clover mixed, 17.50a18.00; No, 2 clover, mixed, 15.00a16.00. Straw—No. 1 wheat, 12.00a13.00 per ton; 13.00a14.00 per ton. SRR The roast beef of old England isx shipped from Chicago, and now its 20a21: roosters, 14%; turkeys, 36;| NEW YORK, December 12.—Bar|jrish pdtatoes are to be cxported from geese, 17; ducks, 17, silver, 68%;, Mexican dollars, 53. Malne.