Evening Star Newspaper, December 15, 1924, Page 28

FIN INDUSTRIALS LEAD AFTERNOON BUYING U. S. Steel Hits 119—0ther 3 and 4 Point Gains. Week Starts Strong. BY STUART P. WEST. 1 Dispsteh to The Star. NEW YORK, December 15.—Today's atock market saw & renewal of the ~dvance with numerous new high rec- ords for the vear. The real feature vas the strength In_the rails, al- ‘hough some of the high-priced in- dustrials went through the usual per- ‘ormance of jumpins sensationally. (“nited States Steel common came to he front later, pushing forward on arge transactions. Revival of the buying movement in railway section was, of course, a popular development. Atchison sold zbove 120 for the first time in 10 ~ears, its rise being accompanied by reports that the dividend might be aiscd to as high as 8 per cent from he present 6 per cent, and second, by » story that at the meeting early in| fanuary there would be & new issue nf treasury stock offered to share- holders at par. B. & 0. Goes Still Higher. would involve val- ble rights. Southern Pacific went up more than a point. The remarka- Jle rise in Baltimore and Ohlo wa accompanied by reports that the di dend would be put up from 5 to 6 Der cent. A spectacular upturn oe- surred in Central Rallway of New Jersey, and this led to heavy bu Wt Reading stock, representing the owning concern. D. L. & W. went along sympathetically. Southern Rallway mad new high above 78, ow Haven crossed 30 again, the se was resumed in St. Louis, San neisco and St. Louis Southwestern ined nearly 2 pointa. Among the motors Maxwell A made 4 new high as It reached 81. There was rather urgent buying again in Pierce-Arrow preferred. Rubber and irc shares moved with the motors, the leader being United States Rub- ter common This naturally Advance in Oils Slow. The advance in the oils continued, but at a very slow pace. One ex- veption wus the Pan-Americans, and there appeared to be plenty of Phil- s Tete for sale around 36. In con- nection with the ofls the Street was mainly interested in the prospective dividend action on Prairle Oil and Gas Further up-bidding occurred in General Flectric. The advance in Worthington Pump above 60 brought 2 renewal of reports that the same speculative interests which had been so cessful in United States Cast tron Pipe were working on the long side of Worthington. Cast Iron Pipe shares rose again Remington Typewriter above the first time, and there was 1 strength in the new Ameri- co and in Sears gomery Ward. The refunding plan of ather brought turther buying. West Penn Company shot forward over 6 points. The jump was attend- ed by rumors of a capital split-up. MARKET CLOSES STRONG. Roebuck and Mont- Central By the Associated Press. NEW YORK, December 15.—Stiffen- ing of metal prices and reports of ex- pansion in both wholesale and retail trades turnished the background for an- other sharp advance in prices in today’s stock market. Jersey Central jumped 17 points, U. S, Iron Pipe 10 and General Electric 7. Sales approximated 1,500,000 shares. . [ The closing was strong. Profit-taking | wade its appearance in the final hour, | United States Steel yvielding nearly a | point from the top and Philps-Jones | broke 6 points, but the general list held firm. Markets at a Glance NEW YORK: Stocks—Strong; | nigh-priced specialtics score sensa- vienal galns. Bonds — Irregular; | Chinese Rallway 5s break 6 points.| Foreign exchanges—Steady; trading | light. Cotton—Higher; bullish spot | advices. Sugar—Basy; favorable crop news. Coftee—Firm; higher | Brazilian markets. CHICAGO | Wheat—Higher; de- | creasing stocks. Corn—Steady; sym- pathy with wheat. Cattle—Weak. Hogs—Lower; heavy receipts. B. & 0. AND SOUTHERN | REACH NEW PEAKS | Jersey Central Jumps 15 Points | and Atchison Sells at 120 in Wild Spurt. B the Associated Press NEW YORK, December 15 lated by a broad investment demand, prices resumed their advance with ‘igor in today's active stock mar- ket. More than 35 new peak prices were attained during the forenoon on fotal sales of approximately 900,000 shares. Jersey Central led an upward move- | ment in high-grade railroad issue: soaring more than 15 points to 270, the highest price since 1917. Atchison sold at 120, the highest level in 15 vears, on expectations that directors next month would grant an increase n the regular dividend or an offer- ing of additional stocks to present ~tockholders at par. Baltimore and Ohio and Southern Raflway common and preferred issues und Katy preferred also establish- 2d new 1924 records. B. & 0. HAS $20,000,000 ON READING HOLDINGS 8pecial Dispatch to The Btar, BALTIMORE, December 15.—It is astimated that the Baltimore and Ohio has a profit of roughly $20,000,000 on its Reading holdings. This is equal o about $13 a share on Baltimore . #nd Ohio common. The company's holdings of Reading common, first and second preferred stocks, were acquired at a total cost of $21,936,189. Beltimore and Ohio’s 606,650 rights to subseribe to Philadelphia and Reading Coal and Iron stock at $21 4 share figure out at @ total market alue of $12,739.630. Deducting the value of these rights from the cost of the Reading holdings and also from their present market value, leaves a net cost te Baltimore and Ohio of 9,196,539 and a net market value of ,247,700. The difference is a profit of 320,051,161, TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) bid. 100 7-18 100718 jooss = Offer. 4n March 15, 1 4%s March 15, 192 the Mail Order | ANCIAL. Acme Coal pf. .. Adams Exp (6).. Adv Rumley. . Air Reduct (M Ajax Rubber. Alaska Gold. Allied Chem (4). Allis Chalm (4). Am Agricul Chm Am Ag Chm pf.. Am Beet Sug (4) Am Bosch . Am Brk Shoe (5) Am Can (16). Am Can pf (7) AmCar& F ( Am C & F pt (7) Am Chain A (2). Am Chicle Am Drug Sny Am Express (6) Am & F P 25%(7; AmF P fpt (7). Am Hide & Lea. Am Hide & L pf. AmIce (7)...... Am Ice pf (6).... Am Internatl Am LaFrance (1) Am Linseed. Am Linseed pf Am Locomo (6). Am Metal (3)... Am Radiator 14) Ara Ry Exp (6).. Am Safety Raz.. Am Ship & Com. Am 8m & Ref ( AmS & Rpt (7). Am Stl Fdys (3). Am Sugar. Am Sugar pf (7) AmSumatra.... Am T & Tel (9). Am Tob (n).... Am Tob B (n)... Am Tobac £t (6). Am Water Wks. Am W W pt (6). | Am Woolen ... Am Wool ptd () Am Zinc. Am 2Zinc pf. Anaconda. .. Armour Del ( Arn Cons & Co.. Assets Realiz. Asso Dry G (6).. Asso Ol (13). AtT&SFo (6). AT&SFp(5). | Ati Birm & At... Ati Coast L (18). AtGulf & WI... |AtGuit& W Ipt | Atlantic Refining | Austin-Nichoua. BaldwinL (T).. Bal & Ohlo (3).. Bal & Oh pt (4). Bangor & Aroos. Barnet Leather. BarnsdallA..... Barnsdall B i Bayuk Cigar.... Beechnut (13)... Bethlehem Steel Bkl Edlson (8).. Brk-Man Tran Bklyn Man pt () Brklyn Un G (&) Brown Shoe (4) Erunswick T Buff & Sus (9%). Burns Bro (10r.. Burns Br B (2).. Burns Br pf (7). Burns pr pf (7).. Buseh Trm pf (7). Butte Cop (§0c) . Eutte&Superior. Butterick Co Caddo Central. .. Cal Packing (6). Cal Pete (1%) Callf Pet pf (D).. Callahan Zinc. .. Can Pacific (10). Caso Threshing. Cent Leather.. Cent Leather ptf. CRRNJ (112).. Cero d Pasco (4) Certain-Taed Chand Mot (3) Ches & Dhilo (4). Ches & O pf (633) Chicago & Alton Chic & Alton pf. Chic & East 1ii | Calumet & H 50c i ! Chi & E 11l p2 Clic Gr West. Chic Gr West ptf. Chi Mil & St P ChiMil & SPpI. Chl & Nwn (4)... ChiPneuT (5) ChiR I & Pac CRI&PDI(8). CRI&PDPL (D). ~hile Cop (2%)- Ciuett Peab (3) Coca-Celg (7). Colo Fuel & Iron Colo Southern. . 1Col G & E (2.69). Col Gas & ELpf.. Com Solv A (1. Com Solv B. Com Solv rg Congol-Na: Conley Tin Foil. Consol Clgar. ... Con Cigar pf (1) Con Distributrs. Consol Gas (5. | Conso) Textile. ! Cont Can (4). Contdnsur (6).. Zont Mot (80¢).. Corn Prod (2) Cosden Co. . | Crucible Sti (4). Cub Am Sug (5. Cuban Cane Sug. Cub Cane Su pf. Cuba Dominican Cuban Dom pf.. Cuyames F'r (3). Dantel Boone. .. Davison Chem. Deere pf (3). Del & Hud (9).. DelL& W (6).. Detroft I2d (8). Doug Pectin (1). Du Pont (8).. DuPont deb (6) - Eaton Axle..... Elec Stor Bat (3) Emmerson B pf. End-John (8. . Endicott pf (.. Erie..... Erie 1st DI Erie 2d pf. Fairbanks Co. Fairbks (2.60). Famous £1(8).. Famous pf (8) Fed Lt & Tract.. Federal Mines. . Fed Mines pt (7) Fifth Ave (84c). Fisher Bdy (10). Fisk Rubber.. Fish Rubber pf.. Fleischman (14 Foundation (6. Frank-Si pf (7). Freeport-Texas. Gardner Motor. . Gen Am Tnk (3) Gen Asphait. ... Gen Asph pf (5). Gen Baking (6). Gen Cigar (8)... Gen Electric (8) Gen El spl (600) Gen Motors (5).. Gen Mot pt (1) Gen Petrol 3). Gen Refrac (2).. Gimbel Bros.... Ginter Co (1%) . Goodyear pf. Gdyear prior (8) June 15, 1925. September 15, 1923 Maren 15, 120, March 18, 1027 December ' 15, 1937. 100% 101 99 15-16 100 1-32 101716 101 046 i Granby Consol Grt Nor Ore (4)..._ Open. High. 38ty 028 16 89 13% I 83% 674 147 au 43 a24% 90 148 17 182% . 124 24% 83 5% 149% 119% 119% 13% 71 874 7% 33% 11% 2644 454 881y 50 135 79% 864 12% 88 105% 42 51 92 11% 183% 8515 84% 104% 38 100 4% 155 97 276% 11% 61 102% 2% 43 58% 24% 85 8d% 107% 18 4% 38% 924 16% 89 11 122% 404 73 S1% 73 1% 613 102% 42% 43 58% 24% 36% 85% 107% 18 4% 78% Low. 38% 92% 16% 89 13% % 8214 674 14% 41 42% 32'% 90 143 117 181 124 24 B8% 11% 224 13% 822 8% 921% 104% 1 4 48 58% 94% 162 98% 07 284% 276% 1% 61 102 41% ‘48 58 24 36 B84% 107% 1% 4% 1% 3% 3%, 34 Stoek Exchange at present, it quotations in time for the regular ed plete quotations will be pablished in today’s 5:30 edition. Close. 38% 22% 1b% 89 14 W 82% 70 14% 41 o THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Because of the abnormal velume of trading om the New York impossible to get complete closing Grt Watn Su (§) Greene Canan Gulf Mo & Nor.. Gu Mo & N pf (5) Gulf 8t Steel (5 Hayes Wheel (2) Hoe & Co (A). .. Househ P (13%). Houston Ofl. Hudson Man.... Hud Man pf (3) . Hudson Mot (3) . Hupp Motor (1) Hydraulic Steel. Illinots Cent (7). Independ Of1 (1) Indian Motoreye Indian Refining. Inland 8t1 (214)% Inspiration Cop. Interb Rap Tr Int Bus Mac (8). Int Cement (4). . Int Com Eng (2) Internat Har (5) Inter Har pf (7). Int Mer Marine. Int Mer Mar pt. . Internat Nickel. Internat Paper. | Int Pap pt st (6) Int Tel & Tel (6) Invincible Ofl... Iron Prod (4%).. Jones Bros Tea. Jordon Mot (3).. Kansas & Gult. . Kun City South. { Kan C So pf (4). Kayser (Jullus) Kelly-Sprgfleld. Kelly Sprag 1st. Keliy Spring pr. Kelsey Whi (8). Kenuecott (3) Keystone T & . Kinney GR.... Kresge Dep Str. Lee Kubd & lirc. 4 i lehigh Val (3%) Lig & Myrs (3).. Lig & Myrs B (3) Lama Loco (4)... i | Locws Ino (2) Lorrillard (3) | Louis & Nasn (6) Ludium (... { McCrory (1.60).. sactutyre (ibe). . Muck Trucks (6) {Macy H K & Co.. | sagmu Copper. Mainnson & Co. Mallinson pf (7). Man s Sup (4) Man Elmd g (5). sunnat Sairk (o) 5 | Manua kiee (n). 48% 122% 40 73 81% 72% 4% 88 103 98% 118 98 8% 20% 22 1% 101 42% | Maracatbo Oil. . | Market st prior. Marland Ui, . | Marlin Rockwel { Martin-Farry 4. | Mathieson Alka. { Maxwell Mot I‘Al-lweu Mot B.. | dday Dept St (5. | Metro G pt (1.89) | sex Seavd (2) Miami Cop (2 Midaie States.. . | Minn & St Louls. { Mis Kan & Tex. | Alis K & Tex pf. 1 Missouu: Pacine. | Missouri Puc pt. | mont Power (4). | slontgom Wars. | Moon Mot (3)... | Mother Lode 75¢ 7 | Mullins Body . 21 5714 274 51 42% 344 96% 107% 914 18% 36% k1) LunsIngwWr 13). ‘ash Mot (110). . Nash pt (T)..... | Natacme. 1 Nat Biscuit (14). Nat Cloak & Sut Nat bairy (3)... Nat Dept Stores. t Distillers pt. Nat knamel & 5. tLead (8).... Nat Lead pf (7). dut Ry Mex 2d.. NutSupply (3).. Nevada Copper. NO T&M 128%. . N Y Alr Br (4) NYAIrBra (4) N Y Canners (2) N 7 Central (7). |5 ¥ Castu(6). NYC&SLL pt (6). NY NH & Hart. . N Y unt & West. Nortolk South Norf & W (18) North Am (3.40). North Ampt (8). sorth Pac (5)... | Onyx Hos pf (7). Orpheum (13%).. Otis Elev (163%). | Ous Steel. ...... Otis Steel pf.... Owens Bot (3) Pacific Gas (8).. Pacific Oll (2). | Packard (11.50). Packard pt ( Pan-Amer (4) Pan-Amer B (4). ark & Tilford.. Penn C&C (4).. Pennsy RR (3).. Penn Seab Steel. Peoples Gas (8).. Pere Marq (4)... Pere Mar pt (5). Pere M prior (5) FhilaCo (8).... Phila& RC&IL. Phillilp Morris, Phillips Jones Phillips Pet (2). Plerce-ArTow. Plerce-Arrow pt Pierce Oll....... Fierce Petrol... Pitts Coal (4). Pitts St1pf (7).. Pitts & WVa rts. P&W Vapt (8). Pitt F W &C (7). Postum Cer (4). Press Steel Car.. Prod & Refiners. Pub Ser N J (5). Pubiic Serv rts.. Pullman Co (8). Punta Al Su (5). Pure Ol (1%)... Radio Corpof A. Radio C pf (3%). Ry StSDPE (8)... Ray Cons Cop... Reading {4)..... Reriing rts..... eading 1st Read 2d pf (3) Remington Type Replole Steel. . Rep {r & Steel... Repl& Spt (7). Reynolds Sp (1). Rey Tob B (3) Robert Rel: Roy Duth 4. St Joseph Ld (2) |8t L & Ban F (5) 8t LSan F pt (6) St L Southwest. StLSwn pt (5). Savage Arms. Schulte (8)..... Seaboard Air L. Seabd Afr L pf.. Sears-Roebk (6) Seneca Copper. . Shell Trad (2.06) Shell Union (1). Shell Un pf (6).. Simmons (2) Simms Pet (50c). Sinclair pf (8). . Ingersoll R (8) y Kuppenheim (2). Open. 94% 17 27 86 9% 3644 491 86% 78'y 26% 64 344 17 17 116% 116% 1 1% 18 18 . 8% % 256 256 46% 47 30% 307 38% 351 1124 112% b3 - 54 37% 39 107% 108% 115 116 14% 14% 4% 44y 23% 24 51% 7% 89% 14% B4t 18% 0% % 37% b7% 27 1T 53 4ty 102 ol 2 45 88l 114 B24% 195 By 89 u1 1% 20% 21 1. 3 81 Tt 824 a1t 69 7 24% 44 33 161 116'% 240 684 lok 11345 491y bats 8649 18% 12513 Y05 304 P 259, 12em 434% 474 th 8% 26'% 8343 10% 10% 59 59 4% 6% 10845 103% 52% 52% 4% 14% . 102% 102% 58% 69 67% B57% 334 84 23% 23% 48% 48% 1% 1% 116 116 72 72 5% 6% 85 83 541 54% 48% 48% 16% 16% 80 80 36 36% 15 15% 50 52% 1% 1% % 50% 100% 15% 1% 18% 105% 139% 97Y% bT% 28% 67% 24 144 41% 29% 45% 4% 133 16% 1% 22% 6% 361 8% 21% 94 17% T % 40 68 804 b2% 53 2% 72% 83% 86 107% 110 226 22% 41% 41% 139% 142% 1% 1% 39% 39% 21% 21% 97% 98% 34 63% 80% 17% 16% of The Star. Finnl and come n 190% 1044 388 44 1% 153% [STTH 24y BT PRICES CONFUSED IN BOND MARKET Chinese Railway 5s Sharp Breaks—L. & N. 5s Improve. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 15. ing bogan today in the new U States Treasury 4 per cents, which subscriptons in cash were a cepted to the amount of about $225, 000,000. The opening quotation on tha stock exchange was 100 1-32. Dealings were light, however, mainly becau the Treasury rejected all Indivdual cash subscriptions in excess of $10,000, thus limitng distribution of the bonds to small subscribers. Changes in the old Liberties and the Treasury ;|45 were confined to small fractions. Indications of firmer money had gome effect upon the high-grade rails and industrials. Losses, however, were very small. Bonds Follow Stocks. The general railway bond market kept pace with Stocks. International Great Northern adjustments and St. Loufs, San Francisco income 68 were among the strong spots. There was also heavy dealing in Chesa- peake and Ohlo convertible Gs above 107. Industrials and tractions were steady, except that there was some further profit-taking in Chicago Rail- way 5s. United States Rubber 58 were up fractionally, ars were Inter- national Mercantile Marine 6s. In the forelgn group there was & sharp break in Chinese Rallway 6s. The semi-annual coMpon was due to- day, and the bankers reported that no funds had been received for this in- terest payment. The bonds dropped over 6 poimts in the first two hours | of trading. Foreign bonds, as a rule, were heavy, especially the French. Rio de Janeiro 8s of 1947 were down ’nplrly a point among the South Americans, and City of Montevideo 7s lost half as much. . New Issue Cversubscribed. It was announged today that the American portion of the Greek loan will be offered Tuesday, the coupon rate belng 7 per cent and the price 88, to yield approximately 8 per cent to maturity. The British portion of this loan was heavily oversubscribed. It was also reported from London that a new Belglan 7% per cent loan was under negotiation, $50,000,000 to be jadvanced this month and $50,000,000 | after the first of the year. The most jmportant offering today {was the Central Leather 8s to the amount of $15,000,000, due 1945, to, yield about 6.45 per cent. The issue Was reported to have gone very we e FRENCH EXPORTS GAIN. Reveal Surplus Over Imports in 10-Month Period. NEW YORK, December 15.—Latest offictal figures showing France's for- elgn trade for the first 10 months |of 1924 reveal a surplus of exports over imports approximating 1,380,- ers Trust Co. of New York. For the was an lmport surplus of 1,341,711,000 | francs. This year's favorable balance | is accounted for Ly Increased s of luxury article: ! RATES ON BAR SILVER. | NEW YORK, December |stiver 68. Mexican dollars, §2%. 22% 81 95 94% 68 68 103% 1033 8% TT% 82% 81% 18% 18 964 21% 80 21 B0% 95 68 10s% 8% 82 18 | Skelly O11 | Sloss-Shefr | Sloss-She pt (7 | South Port S (6). South Pac (6).. Southern Ry (6). South Ry pf (5. Spicer Mfg Spicer pf (8). ... Std Gas & E1 (5) { Stand Mill (3).... | stot1 Calif (2) StOlNJ (1) StON N Jpf (D). Stand PI Gl (3) Stew Warner (5) | Stromberg (6). Studebaker (4). Submarine Boat. Superfor OMl. ... Sweets of Amer. | Telautograph. .. | Tennessee Coppt | Texss Co (3). Tex G Sul(t7%).. Texas & Pacific. Tex & PacC & O Third Avenue.. Tide Wat Oll (4) Timien (13%).. Tobac Prod (8).. ‘Tobac Prod A (7] Transcont Oil. Twin City (4). Underwood (3).. Union Oil (1.80. Un Paclfic (10) Un Tank Car (5) Utd Alloy Steel. Utd Cigar (13%) United Drug (6). Utd Drug 1st 3% Utd Fruit (10).. Utd Ry Invest.. Utd Ry Invest pf U S Cast Iron P. U S Distributing U S Ind Alcohol. C S Realty (8). .. U S Realty pf (1) U S Rubbe: U 8 Rub 1st (8) U S Smelting USSmtpf (3%). Us. Steel (17).. U § Steel pf (.. Universal Pipe Gniver P pf (7). Utah Copper (4) Utah Securities. Vansdium...... Va-Caro Chem B va-Caro Ch pf.. Va Ry & Power. Vivadou..ceee 147% 120 26% 605 117% 52 204 28 59% 189 3% 83 129% 132 41% 3% 36 45% 117% 121 34 68 83 4“ 28% 1% 9% 68 8% 21% 57 38 84 20% 1% 9% 70 8% 224 57% 38% 19% 18% 18% 18 121 118 954 95 13% 18 23w 224 85% 3e% 85% 85% us 17 107 106% 69% 69 80% 80% i 30 26% 70 wabash. . Wabash pf A Wabash pf B.... waldort (1%). - Webber & H (1). West Pen (41.. West Pen Df (7). West Maryland. West Md 2d pf. . Western Pacifc. ‘west Pac pf (6). West Unton (). West Alr Br (6). Westinghss (). Westhse 1st (). Wheel & L Erle Wheel & L Ept. White Eagle (2) ‘White Mot (4). . Wickwire Spence wilson & Co. wilson & Co pt. . wiilys-Overland willys-Over pf. Woolworth (3). 114% Worthington... 58% Worthington B6 74 Wright Aero (1) 15% wrigley (8).... &% Yol C Mf'(2.52)... 38% Youngstown (4). 69% 69% 69% {Partly extra. $Payable in preferred rates ‘a8 given in o T T e test qua: or half-yearly declarst 30 264 % 1% 7 19 10% T4% 1% 4 1% 84 7 o 18 10% 5% T4k 114% 112% 71 58% 4% T4 1% 15% 45y 394 384 000,000 francs, according to the Bank- | corresponding period last year, there | D. C, MONDAY, DECEMBER 15, 1924 [ v BONDS o seena] Recsived by Private Wire Direct to The Star Ofice. Belgium 6 Belglum 7' Canada 68 1926. Canada §s 1931. Canada 6s 1962 % Chile 78 194! Chile €5 1926. .. Chile 8s 1941 Chile 85 1946. Chinese Gov Ry 58 Con Pow Japan 7 Copenhagen 6% Cuba 6% Czecho 881951 Czecho 88 1952 ct. Danish Munic 8s B Denmark 6s. . DEI6%s Nov '53. Dutch East I 6547 Dutch East I 6362 E1 Salvador 8s 48. Finland s f 68 1945 Framerican 7%s.. French 7s w i. French Govt 14s. French Govt 8s... Germany Tsw i ananese 6%s. ... Jergens UM 65'47 Lyons 6 Marsellle 61 Mexico 45’ Montevideo 7s Setherlands 6 Netherlands 6 Norway 65 1943 Norway 6s 1944 Norway 6 1952 Norway 8s. .. Orlent Dev dch 6s. Parfs-Ly's-Med 68 { Paris-Ly's-Med 78 Paris Orleans 7s.. Porto Algere 83 Prague.7%s. Queensiand 6s. Queensland 7s. . .. Rt1o de Jan 88 1946. Rio de Jan 88 1947. | Rio Gr Do Sul 85.. Sao Paulo City §s. Seine Dept of 75. - | Serbs Cr'tes Slo 88 Solssons % Sweden 5% ct. Sweden 6 Swiss 5% 1946. Swiss Confed 85. . Ud Kingm 53829 Ud Kingr 5%s'37 Uruguay 8s. 1 | Adax Rubber 55 ‘Am Agr Chem 7338 { Am Chain s ¢ 6533 Am Repup deb 6s. Am SmIt&R 1st 8. AmSmit &R 63 Am Sug ref 63 |AmT & Tcltr ds | Am T&T cl tr 5s. . | AmT & T deb 51t |AmT& Teveés... Am Water Wks b Anaconda 1st 6s. . Armour & Co 41 | Armour of Del 5 %1 | Assoclated Ol 6s. | Atlantic Refin 5s. Barnsdall s f 8s. Bell Tel Pa bs. i Beth Steel pm 6s.. { Beth Steel rf 6s... { Beth Steel 535 '63 Beth Steel s £ 6s. | Bklyn Ed gen §s.. | Bush T Bldg 55'60 | Calif Pete 63! 1 63 37 4 3 17 45 34 19 3 3 1 .221 50 (ha B aNBR OB wE 09 P3N 15 85 4 13 10 20 3 9 18 1 5 Anaconda cv db 78 125 6 Se 4 1 = 24 12 4 15 15. — Bar | Brier HSt 1st 5348 11 3 T 2 | Central Leather 3164 Chile Copper 6s Col Gas & El &s | Col Gas & El s | Commonwth P és | Con Coal Md 1st bs { Cuba Cane cv d 8s. | Cuban-Am Sug s2. Deaver Gas 5 | Dery (DG) 78 | Det Edison ret éa | Donner Steel | Du Pont de N 71§ | Duquesne Light 65 | 28t Cuba Sug. a ! | Empire G&F 7% Feder Metls 7a'39. Fisk Rubber 85 | Francis Sug 733 . | Gen Elec deb 58 | Gen Refractres 6. * | Goodricn 6% { Goodyear 85 18 Goodyear 8s 1941 Hershey 65 1942 | Humble D&R 5%s. Illinofs Bell 1at bs. | tndiana Steel 5s. .. { int Mer Marine 6s. | Inter Paper 55'47. | KCP & Lt 68 A "52. KanG & E 68 '52. * | Keyser (J) 73 Kelly-Spring $s. Lackawa S 63 Liggett & Myrs bs. Liggett & Myrs 7s. { Lorillurd (P) 5e. { Lorilla { Magma Cop cv 7s. Manat: Sug sf 7%e Marland Oll 7%8. Muriand Of1 8s°31. Marland Oil 85 W. . Midvale Steel bs ct Montana Pow bs.. Mor's&Co 18t 4%s. | Nat Tube 18t 68 New Eng Te) bs N Y Eden 1st 6 NYG EL H&P b Nor Ohio T&L 61 Nor States Pow Nor States Pow 6s. Northwst B Fel s Otis Steel T%HS Otis Steel 88 Pacific Gas Pac Tel & Tel 5s. - Pacific T & T 5852 Pan-American 6s. Pan-Amer Pete 73. Phila Co 5%s'38.. Phila Coref 68A. . Phil & Rd& C&I b8 Plerce-Arrow Pierce Ol deb 8 Producers & R 85. Punta Alegre 78.. inclair Oil 6% gnncm:flolcl' |7|'€-' : o E S Gipe Line 52 'por Rico Sug 78 1 thwest Bell 68. Steel & Tube 1. .- Sug Est Orlent Elec Po Tede Wat ONl 6%s. Toledo Edn 18t 73. U 8 Rub 1st 1L 53. U S Rubber 1% U 8 Smelter 68. UBS8teel s b Va-Car Chem Va-CarCh 7%ss W Vertientes Sus 78 ‘War! ‘Warner Bug West Elvec bs. ‘Westinghouse Wickwire Spen ! Willys-Ov 6%8'33 wilson & Co 1st 63 Wilson & Co cv és. Wilson&C cv 7% ‘Winchester A 7% Youngstn 8 & T &8 Maxwell Motor 75.384 49 3 3 9 PREaNEROC I~ Be 0 0 6 moa®l%e 19 21 veada - amanSuRo~anarcanlo 8 cwd 1 z 1 1 6 2 1 35 13 1 83 18 b 3 4 4 21 1 2 20 10 6 5 Beoleas FOREIGN. Sales. High. 834% 97 9% 100 94% 109% 107% 111% 924 87% 824 103%, 96% 100% 101% 103% 102% 99% 95% 95 961 1024 101 90 941 854 Low. 83% 96 102 £6'% 29 100 94 109 107% 111 1% 864% 82 103% 96 100% 101% 102% 102% 99% 103% 106 106% 404 91% MISCELLANEOUS. 2 100% 95 101 1008 1074 % 100 100 974 T 99% 5 108% 921% 6 & 107 100% 83% 102% 96% 105% 97 99% 103% 109% 86 1054 101% 1043% 73 45 92 81 92 8% 107% 7 29% 91% 57% 50 95% 99% 55 8% 1 Close. 83% 5% 102 7 29 100 94% 109% 107% UNITED STATES BONDS. are in”$1.000.) Bales. Low. Close. ... 171 1011 102-29 100-3% d4%s 22101-1 101-1 101-1 Libls:4s... 101 1¢ie20 101-18 10121 Lib2d 4%s... 175 100-26 100-25 100-26 Lib3d 4is.... 124 101-7 101-5 101-6 ‘% Ath 4%s.. 564 101-31 101-28 101-31 US4s1944. ... 125 100-19 100-17 100-18 US4%s1962. 11 1056-8 106 105-8 Close. 88% 86% 867% 86% 88% 85% 997 103 101 99% 60% 83% 87 116% 9 101% 106% 99%% 102 8674 24% 28% 1077 624 47% 88% 101% 8916 6% 6074 57 784 564 2% . Low. . 88% 86% 867 86' 88% 85% 9975 102% 101 . 99% 69% 834 8672 116% 78% 101% 106% 99% 102 86% 94% 8814 107 62% 47 884y 1014 8913 6% 607y 57 78 56 T2% 60l . ;fv:'mnu div3iie O Toledo 4s. Bklyn-Manha Buff R. & Pitt ¢ Canad North 63, Canada Pac deb 48 Car Clinch & O bs 7arClinch & O és. Cent of Ga 5%s Cent of Ga 6 Central Pa 5 Ches&Ocvék%s.. 17 Ches&Ogn4%s.. 3 Ches & Ohio cv bs 186 Chi & Alton 3s. Chi & Alton 3% 6 Chi B&Q gn 4s '58. 13 Chi B&Q 1st rf bn. CB & Q-Ti div 4s. Chi& EIgn bs Chi Great West 4; CM & Puget Sd 4s. ChiM & St P 48’26 CM&StPabds.. € M&St P gn 4589 Chi M&St P cv 4342 CM&StPgn 4%, Chi M&St P rf 4348 ChiM & St P cv b Ch1 M & StP 6s [ &0 &O & CCC & StL4is. CCC & St L s CCC&StLrt6n Cleve Term bs. Cleve Term 5% Colo & Sou 4%s. CubaRRBs. . Cuba R R 73s. Del & Hudson 6%s Der & Hd 1st rf 4 D & Rio G Imp 6 D&RGlstrfbs Erle 1st cons 4s. Erfegends.... Erfe conv 4s A. Erie conv 4s B. Erieconv4aD.. Erfe & Jersey s. Erie Genessee R 63 Erle (Pa) clt tr 4s. Gr Trunk sf db 6s. Grand Trunk 7s. Great North 6s. Gr. North gen %5 Gr North gen 7 Green B & W db B. Hud & Man ref 5s. Hud & Man aj én.. [11 Central ref 4= 111 Central 5% Int Rap Tran 5s. Int Rap Tr s stpd Int Rap Tran 6s. .. Int Rap Tran 7 Int & G Nor 1st 6 Int & G Nor aj 6s. Iowa Cent 1st b Kan City Ft 8 4 Kansas City S 3s Kansus City S Gs. . Kan ity Term 4s. Lake Shore s °28. Lake Shoreds ‘31. Lehigh Valcn 4s.. Man Ry 2d 4s 2013.. Market St Ry 7s.. MIEIRy&Lb M StP & SSM cn ¢ M StP & SSM en bs M StP & SSM 6%; K & T 1st 4s. K& K& K &T adj bs. .. K&TprinbsA 33 MK&T6sC 1 Mo Pacific gen 4s. 140 Mo Pac 5s 192 1 Mo Pacific 58 *6 Mo Pacific 6 Montr! Tm 1 . N O Tex &M in bs. O Tex & M b8 O Tex & M 5%s Y Cen gen 3%s. N Y Centcn 4598, N Y Cent deb 4s. N Y Centr 16 N Y Cent deb N ¥ CenLacl NY Chi& St L5k NYC&StLésA. New Havnd 4s'67. NewHaven cd 6s.. New Haven 7s.. New Haven 7s fr. =t emeBrm e maChe ot - M M M M 11 NY N Y W & Bos 4% Norfolk & W cn 48 Norfolk & W cv 6s Northern Pac3s... Northern Pac 4: Northern Pacr{ Ore Short L ref & Pennayl gen 4 %s Pennsyl gen bs. Pennsyl 6%s. Rio G West cl 48 RIATk & L4%s StL IM&S 4s°29... St L IM&S R&G ¢s. StL&SFpl4sA. StL &S Fprinbs StL&SF 6%sD StL& SFadj StL&SF incés.. StL & SF pl 68 StLSW con 48’32 e n 99 1034 109% 854 105 101% 104 73 45 o2 81 92 98% 107% 7 9% 91% 57l 88 3 101% 101% lg:lt 5% StP & KCShL 4%s St P Un Dep 5%3.. Seab'd AL dssta.. Seab'd A Lref ds.. Scab'd A Liadj bs.. Seab'd A L con 6s. Sou Pacific 4s°29. Sou Pacific ctl 45.. Sou Paclfic ref 4s.. Southern Ry gn 48 Southern Ry 1st bs Southern Ry 6s ct. Southern Ry 6%s. Term Asso St L 5s. Texas & Pac 1st bs. Third Ave ref 45 Third Ave ad) Union Pac 1st 48 Union Pac 48'27.... Union Pacific cv 68 Virginia Ry st 6s.. Va Ry & P 1st bs. Wabash 1st 5 Wabash 2d bs. Western Md 4s..... Western Pacific 58 West Shore 1st 4s. Whel & LE rf 433 CLOTH MARKET DULL. NEW YORK, December 15 (Special). —The cotton goods market was with- out feature today, trading being light and without price changes. Print cloth interests were 9 cents for 64 by 60 and 10% for 68 by 72. The raw silk market showed no change from Saturday in prices and trading was light. HEAVY FINANCING NEAR. NEW YORK, December 15.—Heavy financing by the railroads in 1925 is anticipated in the financial dlstrict, some estimates placing the amount in excess of $1,000,000,000. Much of it is expected to take the form of large offerings of common stock in piace ot the customary bond issues. 30 im0 3 1 e ¥ 62 011 w1 md e 08 00 19 05 100 6 o i e e & 9Bk 24 10015 95 6313 90% 83 67 94 638 908, 83 67 FINANCIAL COTTON QUOTATIONS IN SMALL ADVANCE Poor Liverpool Market Prevents Any Real Move in Domes- | tic Values. | By the Associated Press. NEW YORK, December 15.—The cotton market opened steady today at a decline of 2 to 5 points in response to_relatively easy Liverpool cable Some early southern selling here. also offerings believed to be for Wall Street account, were readily absorbed by covering or trade buying and af- ter a little Irregularity prices work- ed up to 23.19 for January and 23.92 for May, or about 2 to 4 points net higher. The rally gvas promoted by bullish Southern spot advices. Private cables reported an easier market in Liverpool, due to a de- cline in Egyptian cotton, and Satur- day's census report on consumption in the United States for November. | New Orleans- Quotations. NEW ORLEANS, La., December 15. —The cotton market opened officially quiet, but there was fairly good trad- ing in every month on the first call. First prices showed losses of 11 to 12 points, owing mainly to lower Liverpool cables than due. The initial trades proved the lows, as the mar- ket promptly steadied up on a pri- vate estimate of ginnings for the last period of only 445,000 bale: January went up to 23.42, March to 23.43 and' May to or 7 to 10 points up from the initial lows and 1 to 4 points under the close of Sat-| urday. CHICAGO GRAIN PRICES. CHICAGO, December 15.—With many traders inc.ined to look for a reaction from recent sharp advances, the wheat market showed a downward trend to- day during the early transactions. Profit-taking sales on the part of re- cent buyers were a factor, and so, too, was apparent absence of new ex- port business. It contended aiso that the markets on this side of the Atlantic had been advancing much more rapidly of late than at Liverpool. Opening quotations here, which ranged from % to % lower, May 1.67% to 1.6714, and July 1.473% to 1.47%, were followed by moderate further detlines and then something of a rally. Corn and ocats took their cue largely from wheat. After opening at % to % off, May 1.30 to 1.30%, the corn market fluctuated within limits of about 1 cent. Oats started at 4 to % lower, May 621, to 6214, but later recovered. Provisions were easier, influenced by weakness of hog values and of grair WHEAT— Open. High. Low. Clos December 1629 LA Lesiy D161, 1681 1066% ‘Washington Stock Exchange SALES. Capital Traction Co.—1 at 81%, Lanston Monotype—10 at 76, 10 at 76, 19 . 30 at 76, 10 at 6. AFTER CALL. & E Washington 5 i, 82,000 at 76, $3000 at 6%, ashington G Money—Call loans, 5 and 6 per cent BONDS. Bid gnd Asked Prices. PUBLIC UTILITY. Bld. Asked. American Tel. & Telga. 45..... American Tel. & Telga, 4%y Am. Tel. & Tel. ctl. tr. Bs.01 Am. Tel. & Tel conv. 6s. Avacostia & Potomac 5 ia & Potomac guar. Telephone 5%. & P. Telephone of Va. ital Traction R. R. Georgetown i Metropolit Potomac Potomac Potomac Elec. Potomac Elec. Elec. Pow. D. C. Pap 3 Pot. Jt. Stk Ld. Riggs Realty gge Realty Js (sl Southern Bidg. Gl Wash. Market Cold Wardman Park Hotel STOCKS. PUBLIC UTILITY. 2 Tel. & T Capital Tractioa . shington _Gus . orfolk & Wi . Rwy. & Elec. wWash, Rwy. & Efec. pfd. Terminal Tasi com. ational Capital Columbla Liberty . Lincola ... National Metropolita Riggs - Second ...l National Bank of L TRUST COMPANTY. American Security & Trust.. Continental Trust.. Merchants' Bank. National Sa Un.o Trust Was. Loan & Trus SAV! Commerce & Eavings East Washington. Secarity Sav. & Seventh Street. United State: Washington & Trust. GS BANK. Chanics’ L.... .. FIRE INSURANCE. American Corcoran Firemen National Union. TITLE INSURANCE. Columbia Title ... Real Estate Title . 115 e 160 Natl. Mtge. > i 014 Dutch Market com. 0ld Dutch Market pfd. Lanston Monotype Security Stora Washingt Mobile Dairyman Reports All Stock Stolen. Special Dispatch to The Star. MOBILE, Ala., December 15.—All kinds of thefts have been reported to the police this current year, but the oddest one was put on the books thie week, when Charles Clark, owner of a dairy on the Lott road, about 8 miles | trom Dobile, advised the local officers that somebody had stolen all of his dairy cows, 21 In number, The theft put. Clark ' out of business, or at least_until he can purchase some more Cows. . The sheriffs office also was notified of the theft, and officers in adjoining countles have been asked to' assist in locating the herd. Clark believes the thieves will try and dispose of them on ane. of -the live stock markets. 2z 54, 44—$1.000 at | 54,000 | *|onions, 160 pounds, 2 | bushel, W.R.&E 91850000 LOAN AUTHGRIZED Company to Hypothecate New 6s in Refunding Met- ropolitan 5s. BY CHAS. P. SCHAEFFER. The Public Utilities Commission has approved the application of t Washington Railway and Electr Company to issue $1,550,000 of it general and refunding mortgage ¢ per cent 10-year gold bonds made short time ago. The issue, as stated in the or is for the purpose of refinancing utility’s obligations, epecifical {loan of $1,850,000 of AMetropo Railroad Company first mort 5s which mature on February 1. There is no intention on the par of the railway company to seil authorized loan at the present ti Instead they will be hypothecated a1 their loaning value used in meet: the maturing indebtedness. Exchenge Closes December 20. The Treasury Department has ar nounced that exchange subscriptio: to the recent longterm bond of two 30-vear fours will cl. December 20, 10 days earlier tha the date set last week To date mor than $500,000,000 in outstand specified obligations of the Gover ‘ment have been offered in « for the new loan. Cash subscriptions to the offerin~ from which the Treasury hoped realize about $200,000,000 in add: to the refunding ature, exc $1,400,000,000, Because of the mendous offering in cash, the Tr. ury was able to decline all subscri tions in excess of $10,000 thus c talning a wide distribution new securitids. No limit is placed on the amount a ceptable under the provisions for ex changing third Libe. ty loan 47, Treasury notes of 1 and Treasur certificates maturi xt March 1 for the new honds The Try problem of refunding next vear v be reduced to the extent these r turing obligations are turned in no Definitive bonds of the new which ts dated and begins be: interest tomorrow. will be rea delivery by the Treasury in or so. h 1an of 3 = Program at Institute. The week's study of the loc ter, American Institute of Ba: announced as follows Tonight, standard banking, and Banking,” by F. J. Donolue Donohue will also discuss “Promot and Sale of Securities” before standard economics ciass Fri ning. Tomorrow night the account course will hear Joseph K. Moyer “Methods of Posting—Trial Balance and on Wednesday night Raymo: Dickey will lecture on miscella commercial law subjects. mentary banking class Thursda ning will be in charge of L'iot Thomson, on “Bllls of Lading.” wh on Friday night the new credits ¢ will meet with R. Gordon Finney “Statement Analysis,” in the cha; | rooms, coincidentally with the del ing class, in the quarters of the W« ton Stock Exchange. Union Trust Dividends. Directors of the Union Trust © have declared an extra divic 2 per cent in addition to the r lar quarters disbursement of 1's cent. The extra will be pald on 1» | cember 24 to stockholders of rec December 10, while the regular qu terly will be paild on January 1 stock of record December 31 Tiading on Local Board. Activity in Lanston Monotype provided today’s feature on the Wa ington Stock Exchange, with shares selling at 76. The mar was spotty, Capital Traction suf: ing from weakness, which drove t price down to 913 on sales of shares. Gas stock, on the other har was firm at 54, and Rallway preferre sold at 781. Rallways 4s broug 76%, and Capital Traction 5s we: unchanged at 98%. Gas 6s © pegged at 101%, but the 5s of tl company were firmer at 99. GRAIN AND PROVISIONS. BALTIMORE, Md., December (Special).—Potatoes, new, 100 pou 1.00a1.5: tatoes, b: 3.0024.00; tatoes, bushel, pers, 5.00a6.30; beets, broccoll and kale, bu sels sprouts, quart, 8a15; cabbage, 100 3.00a5.0 bushel, 40a50; car {Tots, 100, 4.0026.00; caulifiower, crate 2.0023.25; celery, crate, 1.75a4.00; cu- cumbers, bushel, 2.50a5.50; eggplan crate, 2.30a4.50; léttuce basket, 1.25a 2.75a3.00; oyste | plant, 100, 6.00a8.00; parsnips, bask 40a50; peppers, crate, 3.00a5.50; pump .00; spinaeh, bushel squash, crate, 3.00a4.00; toma | toes, crate, 3.30a8.50; turnips, baske 40240, 100, .00a. el, 40a50; brus | packed, barrell, 3.00a’ a2.00; loose, basket, 40a | box apples, 2.00a3.00; cranberries, box 5.75a8.00; grapefruit, box, 1.50a2.30 oranges, box, 2.50a3.75 Selling Prices at Noon. Wheat—No. 2 red Winter, spoi 172% : No. red Winter. garlicky domestic, 1 0. 3 red Winter, ga: licky, 1.69%. Sales—None. Corn—Cob. new. rellow, per barrel; track corn, old, 1. Sales—None. Qats—No. 2, new, No. 3, no quotation. Rye—Nearby, 1. £pot, 1.42%. Hay—Receipts, 46 tons. There is 1 life to the demand for hay, and only t grades of timothy and light mixed are wanted. Low grades and inferior har here no definite market value. Quotations today—No. 2 timothy 19.50220.50 ; No. 3 timothy, 16.00a18.00 No. 1 light clover., mixed, 18.50a19.00 No. 1 clover, mixed, 17.50a18.00; No. clover, mixed, 15.00216.00. Straw—No. 1 wheat, 12.00a13.00 pe ton; No. 1 cat, 13.00214.00 per ton. Apples, 21, 3% per bushe No. CHICAGO, December —Higher; creamery extrs standards, 39%%; extra firs firsts, 35a37; seconds, 31a33 Eggs— Higher: receipts, 1,990 ¢ 48a54; ordinary firs refrigerator extras, 35a58y 36a37. U. S. BONDS AT PREMIUM. NEW YORK, December 15.—The new U. S. Treasury 4 per cent bon commanded a premium of 18-32 in the initial (ransactions on the New York Stock Exchange tod: Other U. 8. Government issues were steady The $15.000,000 issue of the Central Leather Co. 6 per cent bonds, offered today, was promptly oversubscribed LIVE POULTRY PRICES. CHICAGO. December 15. — Foultry alive, unsettled; fowls, 14a18: springs, 30; roosters, 14%; turkeys, 30; ducl 16; geese, 1 . GRAIN EXPORTS DROP. Grain exports from the United States last week were 5,344,000 bush- els, against 8,836,000 the previous week, Commerce Department figures