Evening Star Newspaper, January 16, 1925, Page 28

/ THE EVENING RTAR, WASHINGTON, D. C, FRIDAY, JANUARY 16, 1925.° [ovmew vome BONDSsroox sxcamnce] | ERRATIG CHANGES IN GRAIN MARKET og #1 FINANCIAL. WALLSTREETLST | STAYS REGULAR FINANCIAL, BANK STOCKS SOAR ONLOGAL EXCHANGE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office ST. PAUL RAIL LIENS DECLINE IN VALUES Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Sales are in $1,000.) Sales. High.' Low. Lib3%s... 8110110 1013 Lib1st 4%s 30 10124 10118 Lib 2d 41,s. 2656 100 28 100 26 Close. 42% | Goodyear pf.... 97 | Gdyear prior (8) 14% | Granby Consol. . 88% | Grt North pf (5) 12% | Grt Nor Ore (4) . . Low. 42% 97 14% Low. Close. 101% 1013 104% 104% 1% Vi% 6% T6% Eales. High. USSmelter 6s.... 16 101% Close. | US Steels £6s.... 11 104% 101 8 | Utah Pow & Lt b: 1% 10119 | Va.Car Chem 7s. 8% Acme Coal pf. .. Adams Exp (8). Adv Rumley. . Afr Reduct (15). 8% Ajax Rubber 12% 10026 | v, 46% / Rise in Specialties Offset by Weakness in Other Promi- nent Issues. BY ST | Dispat ART P. WEST. 1 t0 The Star. January 16.—Prices ourse on the Stock Exchange Operations for the rise in speefalties were offset by one or two . upsettling influence: such as the weakness in St. Paul is- <ues, but no important losses were brought about. After the first hour, when the selling movement was at it heighit, supporting orders had the ef- feet of steadying the entire list, but fhe volume, as on the preceding day, was reduced Market Actlon Slow. There was a lof of talk about pow- erful initiative about to reappear in various parts of ‘the market, but there was comparatively little actlon. | Buying of Brooklyn Union Gus, which carried the stock up to a 1 hix above 81, was based upon confident teeling that a dividend increase wa coming in the near future. But at this figure even a $6 dividend would m to have been pretty well dis- counted buying of F . Kodak was resumecd on the id the extra dividend now being p only twice a year would be extende over the full four quarter would make the stock a §$10 stead of an $8 payer. Coca Cola Abe Coca Cola got above 90 for the first time on talk that the dividend was to be raised. More actlvity developed in International Nickel. On the other hand, Fisk Rubber first preferred at 78 was off 7 points from where it was selling early in the weck, this on dis- appointment that the initlal dividend had not been made mor. than $1. As the list s icd down, buying opera tions were energetically rencwed In Allls Chalmers, but other Tecent fa vorites in the speci group were not so responsive. -Woolworth was off over 6 points from top figures. Pauls. Pauls was in the « D0, Weakness In S The weakness In the St the chief incident of the day trading in the ralls. The common broke below 14 and the preferred around 23, following the announce- ment, which did not seem to have been at first appreciated, that engi- ne ying over the road to just what Its physical value was. nclusion commonly drawn was that the bankers Insisted upon this being done before they would get be- hind any plan for taking care of the $48.000,000 obligations due next June. It gave the impression that the whole matter of St. Paul's refinancing was still up in the air. Other Ralls Unsettled. Other rails were unsettled to some extent by the fall in the St. Pauls. Great Northern preferred was off a point, and Southern Pacific dropped below 104. On the other hand there was some short covering In Reading around 76, Southern Railway com- mon ran into support around 80, and active buying appeared agaln in Chicago and Great Western preferred in connection with consolidation rume! American Smelting distingulshed it- self by promptly recovering the 1% per cent quarterly dividend which came off the price this morning. The talk is that the rate will be raised to $7 annually. MARKET CLOSES STEADY. By the Associated Press. NEW YORK, January 16— Bear traders succeeded in unsettling to- day’s stock market when it became apparent that operations for the rise had been temporarily abandoned in many ues. Good buying support was_encountered just below current levels, leading to rather heavy short covering In the late trading. ‘Total sales approximated 1,750,000 shares. The closing was steady. Jersey Central broke 7 points, and American Locomotive, Omaha, Republic Steel and Sears Roebuck fell back 3 to 4 points during the afternoon. Ex- tensive short covering brought about a rally just before the close. Markets at a Glance W YORK.—Stocks heavy; Jersey Central breaks 7 points. Bonds Ir- regular; St. Paul issues decline; Mex- ican bonds gain. Foreign exchanges mixed; sterling a cent lower. Cotton declined; rains In Tex Sugar steady; firmer spot market. Coffee weak; trade selling. CHICAGO.—Wheat _higher; better export demand. Corn firm; unfavor- able weather. Cattle dull; narrow shipping demand. Hogs lower; heavy receipts. GRAIN TRADING TOTALS HIGHEST IN FOUR YEARS Special Dispateh to The Star. CHICAGO, January 16.—Grain trade on all exchanges of this country totaled 2,745,076,000 bushels during December, compared with §99,415,000 bushels a year ago. On the Chicago Board of Trade transactions totaled 2,443,893,000 bushels, or an average of 93,995,000 bushels daily, with 11 days over the 100,000,000-bushel class. It represents the largest volume of trading In the past four years. Wheat trade on the Chicago Ex- change involved 1,335,088,000 bushels, which has been exceeded only twice in the past four vears. Corn trading involves 651,255,000 bushels and oats trade 372,404,000, SHORT-TERM SECURITIES. (Quotations furnished br Redmond & Co.) —Noon.— Bid. Ofer 1020, 10214 1081, 1073 1011, Aluminum Alm Americ Ameri Anaconda ¢ ‘Anglo-Amerd of Amer. of Amer. 1925, Federal Svgar Goodyear T. & R. $s 1631 Great Northern 7s 1038... Gulf 0l Corp. of Pa, 5%s 1028, Humble Ofl 53 10: i Oregon Short Line 44 1970 Penna, I K. 7a 1080, Pure il 5%, Avgust. 192 Ewift & Co. Sa 1032 Thicwater Oil Atge 1031 Union Tank Car Ta 1990 "5 Rubber T3ga 1030, ' Union §%s 103 Wentinghouse E. & M. 7s 1031, 107% Wheeling Steel 05 1926, called at 102, Fisher Rody Corp. 8. 1927 and 1028, called for payment February 1. 1925, at 101, 101% ana "102 (respectivels). Alaska Juneay. . L 3 Allfed Chem (4)- Bl ey Allied Cm pt (1) T Allis Chalm (4). 9% Allis Chim pf (1) 1008 Am Agricul Chm Am Ag Chm pt. . Am Beet Sug (4) Am Bosch Am Brk Shoe (5) Am C; ! AmCar & F (1 Am Chain A (2). \m Chicle. Am Druje s : Am Express (6). Am & For Pow Am & Fr Py Am&F P 25% Am Hide & L pf. Am Ice (7). Am Internatl. 'm La France (1 Am LaFrn pf (7) m Linseed. ... \m Linseed nf.. \m Locomo (6). Am Loco pf (7).. \in Metal (3).. \m Radla.or Am Ry Exp (6). \m Republic. ... \m Safety Raz. Am Ship & Com. \m Sm & Ref (6) AmS & Rpf (7). 1 \m Snuff (12).. Am St Fays Am Stl Fy pf ( Am Sugar.. Am Sugar pf \m Sumatra. . Am T & Tel (9). Am Tobacco. Am Tobacco (B) Am Tobac pf (§) Am Water Wk W W pt (6). Coolen. ... Am Wool pfd (7) Am Writ Pap pf. Anaconda ( \rn Cons & Co.. 1836 Dryv G (5). Asso D 2d (7)... A\ss0 OIl (1%). AtT&SFe (7). Atl Birm & At... Atl Coast L (i8) AtGulf & WI... At Gulf & W I pf Atlantic Refilnin Atlan Ref pf Atlas Tack Austin-Nichola. Baldwin L (7). Bal & Ohio (5) Bal & Oh pf (4). Bang & Ar (3). Barnsdall A. Barnsdall B. Bayuk Cigar Beech-Nut (3 Bethlehem Steel Beth Stl pf (7).. Eeth StIpf (8).. Booth Fisherles. Bkl Edison (8) Bric-Man Tran. . Bklyn Man pf (6 Brklyn Un G (4) Brown Shoe (4). Brunswick-Blke Brunswick Term Bush Term pf (7' Burns Bro (10). Bur Add Ma (3). Butte Cop (50¢) . Butte & Superior Caddo Central.. Cal Packing (6). Cal Pete (1%).. Callf Pet pf (7). Callahan Zinc. .. Calumet & H 50¢ Calg & Ariz (2). Can Paclfic (10). Case Threshing. Cent Leather. . Cent Leather pf. CRRNJ (112). Century RIb (2) Cero d Pasco (4) Certain-Teed. .. Chand Mot (3) Ches & Ohlo (4. Ches & O pt (6% Chicago & Alton Chic & Alton pf. Chic & East 111 Chi & E 111 pf. Chic Gr West. Chic Gr West pf. Chi Mil &St P.. Chi M1l & S P pf. Chi & Nwn (4).. Chi & Nw pf (7). Chi Pneu T (5).. €hi R1& Pac. CRI&Ppf(6). ChiStPM&O.. ChStPM&OPI(5) Chile Cop (2%). Chino Copper. .. Cluett Peab (5). Cluet Pea pf (7) Zoca-Colo (7).. Colo Fuel & Iron Colo Southern Col G & E (2.60). Col G & Epf (7). Col Carbon,(4).. Com Solv B. Congol-Nalrn (3 46% 46% 106 49% 110% 40% Conley Tin Foll. 15% Consol Cigar. ... 27% Con Distributrs. 6 Consel Gas (5).. 4 6% Consol Textile 4% Cont Can (4) 67% Cont Insur (6) 109 Cont Mot (80c).. 9% Corn Prod (2). 3844 Cosden Co. ... 29% Crucible Stl (4). 2% Cructble pf (7).. 96 Cub Am Sug (3). 29% Cuban Cane Sug 12% Cub Cane Su pf. 564 Cuba Dominican 5% Cuban Dom pf.. 41% 41% Cuyamel Fr (4). 63 53 Daniel Boone. .. 6% 7 Davison Chem.. 43% - 44y, Del & Hud (9) 4 187 139% Del L& W (6) 138 139% D&ERGWstpf.. 49% 50 Detroit Ed (8) 113% 118% Dome Mines (2). 16 16 Doug Pectin (1). 15% 16% Du Pont (8).. 140% 144 DuPont deb (6). 95 95 Dugquesne pf (7) 106% 105% Eastman (18). 112% 113 Eaton Axle. 18% 14 Elec St Bat (15). 64% 66% End-John (5)... 69Y% 69% Erie 5 81% 31% Erle 1st of. 43% 4% Fairbks (2.60).. 4% B4% Famous 1 (8).. 94% 95% Fed Lt & T (*7). 130% 132 Federal Mines. . 234 23% Fed Mines pf (1) 61% 614 Fid Phoenix (6) 158 169 Fifth Ave (84c) 3" Yiig Fisher Body (10 210 270 Fisher Body (n). 66% 67% Fish Bd O pf (8) 106% 106% Fisk Rubber. ... 12 12% ¥ish Rubber pf. 6% 8% Fretschman (14) s2% 83 Foundation (6). 92 93% Freeport-Texas. 10 10 Gardner Motor.. 6% 6% Gen Am Tnk (3) 524 62% Gen Asphalt.... 57 657% Gen Asph pf (5). 96 = 96 96 96 Gen Baking (6). 140 140% 140 140% Gen Clgar (8)... 9T 97% 974 974 Gen Electric (8) 307% 311% 304 310% Gen Elspl (80c). 11 114 11 114 6% % 4% 67% 109 9% 8% 30% 5 96 29% 12% 56% 5% 95 105% 113% 14 66% 694 31% 44% 34% 96 182% 23% 61% 169% 13 270 68 105% 12% 8% 834 934 10% 6% 53 53% b7% . 57% Barely steady; receipts, Eggs—Firm; receipts, fresh-gathered firsts, 60a6 onds, 56a59; nearby hennery brown . extras, 66a67; refrigerator firsts, 49a50. Cheese—Firm; receipts, 70,862 1bs. . ;S;%(l&l. R% 23 23 23 G"‘uen 6. 1 18% 13% 13% Gen Motors (5). 72% 72% 71% 72% Gen Mot pf (7).. 106% 106% 106% 106% Gen Petrol (2).. 42% 42% 42% 42% Gen Refrac (2).. 66 65 b4% 65 Gimbel Bros.... B4% b54% B53% 53% Gold Dust. . 40% 40% 40% 4u% 44% 4% 43 4% 9% . 9% 9 9% Grt Wstn Su (8) Gt Wes. Spf (7) Greene Canan. .. Guantanamo. Gulf Mo & Nor. . Gu Mo & N pf 69 Gulf St Steel (5) Hartman Co (4). Hayes Wheel (3) Hayes W pf (714 Homestake (17) Househ P (13%) Houston Ol. ... Hudson Man. ... Hud Man pf (5). Hudson Mot (3). Hupp Mot (1)... Hydraulic Steel. Ilinots Cant (7) Independ Ofl (1) Indian Motoreye Indian Refining. Tnland Stl (2%). Inspiration Cop. Interb Rap Tr Internat Agri. .. Inter Agriprior. Int Bus Mac (). Int Cement (4). Int Com Eng (2) Internat Har (5) Inter Har pt (7) Int Mer Marine. Int Mer Mar pf.. Internat Nickel. Inter Nick pf (6) internat-Paper Int Ry Cent Am. Inter Shoe (3). . Int Tel & Tel (6) Intertvpe (i1%) Iron Prod (4%). Jewel Tea. . Jones Bros Tea. Jordon Mot (3). nsas & Guif.. n City South. yser ‘Juliu fly-Sprgfield nnecott (3). Keystone T & R. Kresge S S (8) Kresge Dep Str. Kresge SS pf (3) Laclede Gas (8). Lehigh Val (313) Lig & Myrs (3). Lig & Myrs B (3) Lig & Myrs rgts. Lig & My pf (7). Lima Loca (4).. Loews Inc (2) Loft Loose-Wiles Bis Lorrillard (3).. Loulslana OIl.. . Louis & Nash (6 Ludlum (2). McCro (1.60) B.. Mack Trucks (6) Mack T 1st (7).. Macy HR & Co. Magma Copper. Mackay (7).... Mallinson & Co. Mallinson pf (7) Manhat Shirt (3) Manila Elec (n). Maracaibo Oll Market Street. . Market St 2d pf. Marland Ofl..... Marlin Rockwell Martin-Parry 4. Mathieson Alka. Maxwell Mot A. Maxwell Mot B. May Dept St (5). May Dp S pf (7). Metro G pf (1.89) Mex Seabd (2).. Miami Cop (2).. Middle States. .. Midlnd Pr pt (8) Minn & St Louis MStP&SSM 11 (4] Mis Kan & Tex. MK&TDpf (5).. Missouri Pacific Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Nash Mot (110). Nashpf (7)..... Nat Biscuit (14) Nat Cloak & Sut Nat Dairy (3)... Nat Dept Stores Nat Dp St 1st (7} Nat Distillers pf Nat Enamel &8 Nat Enam pf (7) Nat Lead (8). ... Nat Ry Mex 2d.. Nat Supply (3).. Nevada Copper. NOT&M t23%. NY AirBr (4).. NY Air Br A (4) N Y Canners (2) N Y Central (7). NYCStL(8)... NYC&StL pf (6) NY Dock....... NY NH & Hart.. NYO& Wst (1) Norfolk South. . Norf & W (18).. Norf & W pt (4) North Am (3.40) North Am pf (3) North Pac (6)... Nunnally (1)... Orpheum (1%). Otis Elev (156%) Otis Steel...... Owens Bot (3).. Pacific Mail Pacific OI1 (2) Pac T&T pf (6). Packard (11.50). Packard pf (7).. Pan-Amer (4).. Pan-Amer B (4) Panhandle..... Panhandle pf Paris & Bsta. .. Park & Tilford. Penn C &C (4). Pennsy RR (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4).. Pere Mar pf (5). Pere M prior (3) Phila Co (4).... Phila & RC&I. Phillip Morris. . Phillips Jones. . Phillips Pet (2) Phoenlx pf (7). Plerce-Arrow. . Plerce-Arrow pt Pierce A prior 8. Plerce Ofl...... Plerce Ofl pf. ... Plerce Petrol Pitts Coal Pitts Coal pf (6) Pitt F W&C (7). Pitts Term Coal. Pitt Tr Coal pr. . Pitts Ut pf (1.20° Pitts Ut ctfs 1.20 Pitts & West Va Postum-Cer (4). Press Steel Car. Press Steel C pf Prod & Refiners Pro & R pf (3%) Pub S ELpf (7). Pub Ser N J (5). Pullman Co (8). Punta Al Su (5). Pure Oll (1%8). Pure O11 pf (8).. Radio Corp of A. Radio-C pf (3%) Ry Stl Spg (8) Ray Cons Cop. Reading (4). .- Reading rts. ... Reading 1st (2). Read 2d pf (2).. Remington Type Remgtn series S Replogle Steel. Rep Ir & Steel. . Reynolds Sp (1) Rey Tob B (3). . Roy Duth 4.42% St Joseph Ld (2) StL & San F (5) 105 123% 19 20 23% 1% 102 254 6044 29 6% 35% 93% 15 103% 65% 64% 4 43 1% 34 22% 48% 2% 112% 67 73 83% 36 49% 14% 7% 39% 85 13% 49 88% 2% 29% 6% 51% 97% 139% 591 8% 15 14% 1 9Tk 63 87 29% 44% 100% 67% 143% 41% 30 104% 69% 50% 184 15% 6% 22% 88 42 48% 100 20% 59% 16% 75 62% 43% 58% | ulated by Inquiry Into Road’s Position Cause of Break Today in Bond Market. BY GEORGE T. Dispateh to The Star. NEW YORK, January selling of §t. Paul bonds wi ture of toda trading. The break foMowed publication of a statement by the president of the road to the effect .that preliminary forceasts Indicate that fixed charges will not be fully covered this year and that the refunding of the 4s of 1925 next June will await the result of the examination of the system by independent englneers. Selling today at 3%, St. Paul's 4s of 1925 were down 3 points from Thursday’s high. - er de nes were registered In the other St. Paul issues, but mostly with some subsequent recovery. “Katy” Adjustments Active, Next to the St. Papl bonds, the most interest was sh vn in M. K. & T. ad- justments, buying of which was stim. reports of highly favorable There was some profit tak- both in these “Katy the Seaboard 6s, which have had so pid an advance. New York, West Chaster and Boston 4l4s were still in demand and held around thelr recent prices. Industriale as Wilson & Co. junior, issues were conspicuously strong. Buying went on in Virginia-Carolina Chemical 7s ind in American Agri- cultur: . while International Mer- cantile Marine 6s =old above 89 again It is predicted that International Mercantile M ine will cover this year hoth depreciation and intercst charges with a good margin. Sugar bonds were irregular, Manatl Sugar 7%s® being higher and Cuba Cane §s lower. Local tractions were heavy. HUGHES. 16.—Heavy the fea- earnings. ing, however, bonds and In Banks Await Lower Prices. The market for high-grade Invest- ment issues was very qulet, appar- ently because the banks expected prices to go lower. There sign of this in quotations today, ever. More interest was shown short-term securities than in some time. Time money was reported slightly firmer. In the foreign group the strong feature was City of Copenhagen 5%s above 97 and Swiss 5s, which at 102 were selling at their best price since the lssue was first offered. Some of the Mexican issues were up again today on hopes that Interest pay- ments might be resumed. The gen- eral forelgn list was a shade lower. TREASURY CERTIFICATES. (Quotations furnished dy Redmond & Co) ——Noo! Bld. Ofter . 100 100 7-32 i 8ag 12 100 11-16 100 100 1-32 101 1011132 101 1011 10037.32 100 3132 101 20.32 102 1-32 101 29-32 102 1-32 Mareh 15, March 15, June 15. eptember Jecember March 15, September March 15, December 99 15- 84 48% 112% 112 20% Savage Arms. .. St L Southwest. Schulte (8). Schulte pf (8). aboard Alr L. Seabd Alr L pf.. 35% Sears-Roebk 161 Seneca Copper.. 1 Shattuck-Ariz.. 7% Shell Trad (2.06) 41 Shell Union (1). 25% Shell Un pf (6).. 100% Simmons (2)... 82% Simms Pet (500) 24% Sinclair Oll. 19 Sinclair pt ¢ 88 Skelly Oil...... 26 Sloss-Sheft (6).. 83 South Pao (6).. 104% Southern Ry (5) 80% South Ry pf (6). 35 Spicer Mfg..... 17% Std Gas & E1 (3) 42% St Ol Calif (2).. 62% StOINJ (1)... 414 StOIIN J pf (7). 117% Std Plate Glass. 15% Stew Warner (5 74 Stromberg (6).. 73 Studebaker (4). 44 Submarine Boat Superior Oil.... 5% Superior Stl (3). 38 Sweets (new). . Symington..... 11% Symington (A). Telautograph. . Tennessee Coppt Texas Co (3)... Tex G Sul (17%) Tex & Paclfic. .. Tex & PacC &0 Tide Wat Ol (4) Timken (13%).. Tobac Prod (6). Tobac Prod A (7 Transcont Oil... Twin City (4)... Underwood (3). Un Bag & Paper Uniton Ofl (1.80). Un Pacific (10) Un Pac pf (4). Un Tank Car (5) Un Tak Car pf (7 Utd Alloy Steel. Utd Cigar (13%) United Drug (6) Utd Drug 18t 3% Utd Fruit (10).. Utd Ry Invest. . Utd Ry Inves pf. U S Cast Iron P. U S Distributing U S Distr pf (7). U S Hoff (50¢). . U S Ind Alcohol. U S Realty (8). U S Rubber U S Rub st (8). U S Smelting. .. USSmpf (3%). U SSteel (17)... U S Steel pf (7). Universal Plpe. . Univer P pf (7). Utah Copper (4) Utah Securities. Vanadtum...... Va-Caro Chem Va-Caro Ch pf. Vivadou Wabash.. Wabasn pf A Waldorf (1%).. Webber & H (1) West Pen pf (7). West Maryland. 8 41 o1 49% 29 2% 9% % 21% 574 18% 17% 96 16% 23% 3 3T West Pac pf (6). 924 West Union (7). 121% West Air Br (6). 107% Westinghse (4). 6% Wheel & L Erle. 15 Wheel & LE pf. 28% White Eagle (21 28% 28% White Mot (4) 413 U Wickwire Spenw % % 1 Wickwire Sp rts. 1 % 1 Wickwire pf rt: 9 8 9 Wilson & Co. % T Th . TH Wilson & Co pf. 2222 “g3 Willys-Overlan¢ 10% 10% 9% 9% Wills-Over pf.. 78% 74k T2% T4k Woolworth /3:. 120 120 118% Worthington... 69 70% 66% Worthington A @ 86% 86% 86% Worthington Bt 72 72 72 Wright Aero (1) 720 20 19% 19% Wrigley (3)..... 48 48 48 48 flartly extra. 3$Payable ferred stock. Dividend rates as above table are the anoual c ments based on the latest quarterly or half-yearly declarations. Unless otherwise noted, extra er speciai @ividends are not included. Lib 3d 4% Lib44Ys 126 1018 10156 347 101 26 101 23 US4s1944. 131 100 18 100 16 US4%s’52. 137 104 30 104 23 FOREIGN. Sales. Argentine 58 Argentine 6 Argentine 6s B, Argentine 7 Austria . Bank of Japan 6 Belgium fs wi. . Belgium 6%s wi. . Belglum 71 Eelgium 85 Berne 8= Bolivia 8s Bordeaux 6 Brazil 7s. Brazil 8s. 2 Canana Gs 1926 Canada 5% 1931 Chile 85 1941, Chile $51946. ... . Chinese Gov Ry 58 Con Pow Japan 7a. Copenhagen 534e. . Cuba 5%s...... Czecho $5 1951 Czecho §s 1952 ct. Denmark 6s Denmark 8s. D E15%s Mch ‘53, DEI5%sNov '3, Dutch East I 6347 Dutch East I 6s'62 El Salvador 85 48, , Finland s f 65 1945 Framerican 7%a. . French 7s w § French Govt 7 French Govet 85 Germany 7s w I, Greek 78 w 1. Haltl 65 Holland-Am. Hungary 63%s Japanese 45 Japanese 6% Jergens U M 6347 Lyons 6s Marseille 6; Mexico 45 ‘04 asntc Mexico 5s assented Montevideo 7s . Netherlands 68 ‘54, Netherlands 6s *72. Norway 65 1943. Norway 68 1944. .. Norway 6s 1952 Norway 8s.... . Orient Dev deb 6s. Paris-Ly's-Med 6s. Parls-Ly's-Med 78 Paris Orleans 7s.. Prague 7% - Rio de Jan 8a 1947. Rio Gr Do Sul 8s.. Sao PaulaState §s Seine Deptof 7s... Serbs Cr'tes Slo 88 Solssons 6s....... Sweden 5%s ct Sweden 6s Swiss 518 1946 Swisa Confed 88 Ud Kingm 5%s 29 Ud Kingm 65%s '37.128 Ud Steam Copen 68 Uruguay 8s....... Zurich8s......... 9 2 1 High. 3% 95% 95% 1024 97 98% 87% 94l 109% 1073% 110% 934 85 88% 96T 101% 102% 102% 100% 103% 108 107% 2% 0% LTl Tw 100 100 101% 110% 103 9914 1045 102 116 116% 106 $3% 107 110% Low. 83 95 95 101% 96 984 87% 93% 109% 107% 110% 93 84% 3% 96% 101% 102 102% 100% 103 107% 107 42% 904 96% 9% 993, 99% 101 110 9% 95% 995, 99% 103% 86% 3 92% 100 102% 4% 88 92% 834 B9% 82% 1% 89% 85% 84% 23 317 90 101% 104% 9874 98% 99 13% 86 80 8814 8RY 91% 94 96 90 85% 844, 99y 104 101% 116 116% 105% 95 107 110% MISCELLANEOUS. Am Agr Chem T%s Am Chain s f 65 ‘33 Am Repub deb 6s. Am Smit & R 1st b2 Am Smit & R 6s Am Sug ref 6s. AmT& Tcltrds,. Am T& Tl tr Am Tel & Tel 58 wi Am T & T deb 5% AmT & Tev 6s Am Water Wk Anaconda 1st 6s Anaconda cv dh 7s Andes s 25% D Armour & Co 4%s. Armour of Del 6%: Associated Ol 6 Barnsdall s £ 8 Bell Tel Pa 5s. Beth Steel pm 6 Beth Steel rf 5 Beth Steel 53, Beth Steel s f 63 Brier H St 1st 5%3 Bklyn Ed gen 6s.. Bklyn Unfon G 5s. Bush T Bldg 65 '60. Callf Pete 6% s Central Leathe Chile Copper 6 Col Gas & E15s. .. Commonwth P 63. Con Coal Md 1st bs Consumers Fow 58 Cuba Cane cv 7t 3¢ Cuba Cane cv d 8s Cuban-Am Sug Denver Gas 5: Dery (D G) 7s Det Edison 55 *40. Det Elison ref Donner Steel 7s... Du Pont de N 7%’ Duquesne Light fis Est Cuba Sug 7% Emplre G&F 1 Feder Metls Fisk Rubber § Francls Sug 7%s. Gen Elec deb 53. .. Gen Refractres 6s Goodrich 6% Goodyear 8: = Goodyear 851941, Hershey 6s 1942 Humble O&R 5%s. Illinols Bell 1st 68 Ilinols Steel 4%s. Indlana Steel Gs Int Mer Marine Inter Paper 6847 KCP & Lt 55 A '52. Kan G & El 655! Kelly-Spring Lackawa S 6s '50. Liggett & Myrs b: Liggett & Myrs 7 Lorillard (P) bs. Lorillard (P) Magma Cop cv T Manati Sug st T%s Marland Oil 85 '31. Midvale Steel 5s. . Montana Pow b: Mor's&Co 1st 4% New Eng Tel b N Y Eden 1st 638 NYG EL H&P 4s.. NYG EL H&P 6s.. NY Tel 4%s N Y Tel 68'41. N Y Tel 68’49 North Am Ed 68 North Am Ed 6 Nor Ohio T&L. Nor States Pow Nor States Pow 6 Northwst B Tel T Otis Steel T343. ... Otis Steel 8s...... Pacific Gas & El 53 PacT & T 1stbs... Pacific T & T 6362 Pan-American s Pan Amer Pete 78, People’s Gas 5s. Phila Co 5%3'38 Phila Co ref 6s A Phil & Rdg C&I Pierce-Arrow 8 Public Service 6 8 Pub Serv Elec 6 Punta Alegre 7 Sinclair Oil Sinclalr Oil Sinclair Oi1 7. ... Sin Crude O11 5% Sin Crude O11 Sin Pipe Line b5 South Bell Tel 6s 8o Por Rico Sug T Southwest Bell 5s. Steel & Tube 73 Sug Est Orlent 7s Tenn Elec Pow 6s. Tide Wat Ofl 6%s Toledo Edn 1st 7s: United Drug 6s. ... U 'S Rub lst rf b8, U S Rubber 1%s 61 12 11 9 3 20 40 18 L 48 42 1 7 49 35 2 32 21 1 1 13 10 3 - o CSnownommns B TIPSl — PITET- - - @ Y T L T e = Y L TSP s po 534 97% 97 9714 94% 97 106 100% 964 100% 95 101% 129 93% 100% 103% 100 87 91% 102% 104 100% 91k 94% 874 95 98% 9% 100% 93% 101% 100% 110% 100% 9% 87% 1% £ 29% 108 9245 79 100% 107 904 108% 105% 104% 98% 10634 110% 105 102 100% 101% 108% 119% 104% 100% 9% 93% 101% 88% 88 96 99% 97 90 D8y, 117% 96% 114% 127% 100% 1065: 884 98y 79% 99% 118% 86% 101% 96% 106% 108 96U 102% 9216 94 106% 107% 92 294 945 9% 9248 105 105 9% 94% 103% 100% 95 951 104% 108% 106% 86 1% 100% 100% 1018 101 25 10018 104 24 Close. 83% 96 95% 1024 97 98% 87% 94 109% 107% 110% 98% 84% 83 960 101% 102% 102% 100% 103 107'% 107 42% 90% 96% 97% 100 ~Car Ch 7% Warner Sug 7539 Warner Sux 7s *41. Weat Elecbs...... Westinghouse 7. Wickwire Spen Willys-Ov 6%s'33 Wilson & Co 1st Wilson & Co cv 6a Wilson&C cv 7%s. Winchester A 7%s Youngstn S&T 6s., 4T% RAILROAD. 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Erie con ext Erle Genessee R 63 Erfe (Pa)elt tr 4s. Grand Trunik Great North 6 Gr North 5%s Gr North gen 7s Havana ERL&P 63 Hud & Man ref 5s. Hud & Man af 5. . 111 Central ref 4 111 Central 5% 111 C-C St L&N Int Rap Tri Int Rap Tr s stpd. Int Rap Tran 6 Int Rap Tran 7s Int & G Nor 1st 68 Int &G Nor aj 6 Kan City Ft 8 4 Kansas Clty S 3 Kansas City S 6 Kan Cy Term Lake Shore 45 '28. Lake Shore 45 ‘31 Lehigh Val cn 4 Louls & N uni 43.. Louis & N 68 B. Louis & Nash 5% M StP & SSM cn 4s M StP & SSM cn §: M StP & 8SM 5% Mo Pacific gen 4 Mo Pacific bs'6l Montrl Tm 1st 5 NOTex & Mb6s B NO Tex & M 5% NYCengen3 N Y Cent cn N Y Centribs.. N Y Cent deb 4s N Y Cent deb NY Chi & St L5%s NYC&StL6sA. New Havcdés... New Haven 7 NY. Ry rf 48 ctt, NY.Rys adj 5s ct. N Y State Ry 4%a. NY W & Bos 4%s. Norfolk & W cn 48 Norfolk & W cv 6 Northern Pac 33. Northern Pac 4s Northern Pacr i Northern Pac 58 D Ore & Calif lst 5s. Ore Short L ref 4 Ore Sht Len b3 Ore-Wash lst rf Pennsyl gen 4%s Pennsyl gold 7s Pere Mrq 13t 45’56 Pere Mara ist b Reading gen 4s Reading gn 4%s. Rio G West 1st 4 Rio G West cl 4 RIArk &L 4% StLIM&S 4s'29. St L IM&S R&G 4 StL&SF pldsA Seab’d ALref 4s. Seab'd A Lad) & Seab’d A L con 6s.. Sou Pacific 43°29.. Sou Pacific ctl 4s.. Sou Pacifio ref 4 Southern Ry gn 4s Southern Ry 1st §s Southern Ry 6s ct. Southern Ry 6%s Sou Ry Mobile ds.. Term Asso St Li4s. Term Asso 8t L 6s. Texas & Pac 1st Third Ave ref 4s. Third Ave ad] b8 Tol StL & W 4s Union Pac 1st 4 Union Pac 1st rf 48 Union Pac 48 '37.... Union Pac cv 63, Virginia Ry st 5s.. VaRy &P lstss Wabash 1st b5 Wabash 2d s. Western Md 4s.... Western Pacific 58 West Shore 1at 4 Wheel & L E cn 4s. ‘Wisconsin Cent 4s. NEW .22 . 49 . 188 New Haven 7s fr..200 64h 8% 90% 86% 872 89% 87% 100% 103% 101% 85% 99% 69% 85% 88% 100% 17% 116 79% 106% 99% 104 8% 96 2 88% 108 1 62% 11 46% 8y 5 B9 4% G0y 64% T5% 52% 57 4 82% 35 b1% 25 56 100 2 833 26 101% 1112 4 108 33 B4 2 83% 46 844 13 78 4 9% 4 1024 22 7% 1 103% 95% 2 103% 2 100 105% 8514 103% 44 89% B4%, 94% 23 91 99 6% 84 100 94% 286 115% 28 94% 12 102% 56 90 99% 994 48% 5 66% 6214 89 129% 60% 8414 107 964 101 96% 105% 824 9414 102 110 109 824 9T% 94k 5% 93% 83% T2% 85% 98% 84% 1% 86% 94% 85% 1% 102% 864% 83% 61% 6% 88% 96% 84% 17 34 26 19 12 9 89 38 4% 9 100% 14 104% 7 108 834 82% 100% 100% b6% 49% 82% 82 85% 99% 103% 16 95% 1 1 100% 14 95% 9 % 29 91% 5 82y 3 138 8% 82 92% 98% 107% 82% 100% 93 614 59% 101% 96% 643 82% 89% 90 86% 874 80% 8% 100% 102% 101 85 99% 69% 85 87% 100% nu1 116 9% 108% 997% 102% 87% 824 102% 109% 108% 81% 97% 94% 95% 93% 83% 2% 85 934 845 % 86% 94 85% 17% 102 86% 83% 61% 6% 87% 96% 84% 88% T4% 100% 104 107% 83% 824 100% 100% B55% 48% 82% 1% 85% 9% 103% 95 93% 100% 94% 64% % 81% 3 82% 93 98Y% 108 82% 100% 934 63 61% 101% 96% 64% 82% 9% 90 86% 8T% 89% 87% 100% 103% 101 854 99% 69% 86 88% 100% 17% 116 9% 106% 99%4 104 107% 83% 82% 100% 100% 564 48% 82% 1% 85% 99% 103% 95 £23 100% 954 64% 1w 81% 3 7 8 8 80 Mezican dollars, §3%. YORK, January 14—Bar sil- Buying of Argentine Wheat in Europe Sends Prices Off in Chicago Trading. By the Associated Press. CHICAGO, January 16—Fluctuat- ing rapldly over a range of 2% cents, the wheat market averaged lower to- day during the early dealings. Heavy selling, which forced down the May dellvery, was an outstanding feature that contrasted with relative strength of the new crop months, July and September. Indications that Europe at present, was obtaining new sup- plies chiefly from Argentina tended to give much impetus to selling of the May delivery here. Opening prices, which ranged from % decline to half cent advance, with May 1.83% to 184 and July 158% to 1.58%, were followed by material upturns all around and then by a pronounced break, especially in May. Corn and oats took thelr cue most- ly from the action of wheat, After opening at % off to % up, May 1.32% to 132%, corn underwent a general sag to well below yesterday's finish. Oats started unchanged to % lower, May 61% to 61%, and later continued downgrade, Provisions were weak, ing with a-drop in hog WHEAT— High, May 1.85% July 1508, Septemh CORN Mas it L 1. e T Beptember : 1 OATS May July Septes RYE— May July sympathiz- values. Open. L 158 159 381 0% % % U. S. COTTON REPORT . HELP TO QUOTATIONS By the Associated Press. NEW YORK, January 16.—The Cen- sus Bureau report Issued today show- ing 532,047 bales of cotton consumed in this country during December compared with 463,789 last vear was considerable above trade expecta- tions. There also was bullish com- ment on the report that stocks held in consuming establishments at the end of December were only 1,.819.265 bales, against 1,627,628 last year, and the market opened firm at an ad- vance of 7 to 15 points, with March contracts soon selling up to 24. 22 points net higher. Buying also was encouraged by re- ports of better business in cotton g00ds, but the advance met some sell- ing on the appearance of rains in the Southwest and prices eased off & or 7 points from the best before the end of the hour. New Orleans Quotations. NEW ORLEANS, January 16.—The cotton market opened firm, first trades showing gains of 8 to 18 points. The Census Bureau report showing consumption here during December of 532,047 bales, exclusive of linters, was very much larger than expected and gave the market a further upturn right after the open- ing call. March traded # high as 24.05, May 24.32 and October 23.80, or 19 to 23 points above yesterday's close. The census report also showed that mill stocks were 300,000 bales small- er than a yvear ago. Prices eased off 6 to 7 points on realizing. The weather map was the wettest of the season so far, showing general and heavy rains everywhere except in west Texas. This map showing help- ed to check the advancing tendency of prices. —— Washington Stock Exchange SALES. Washington Gas 6s "33—$400 at 101%. inE o G & et ge- 3341000 at 100%. at 531, 40 at 54, 8 at 54, 10 10 at 54. Cominercial National Bank—10 at 145, 40 at 4 iiggs National Rank—3 at 315. " Mtge. & Invest. pfd.—20 at 9%. AFTER CALL. Chesapeake & Potomac Tel. 55—32,000 at 1003 Washington Gas Light—1 st 54. Potomac Electric 83 1953—$1,000 at 104. Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. e Bid Asked. American Tel. & Telg 3 7 Amer. Tel. & Telga. 4%, Am. Tel. & Tel. ctl. tr. & Am. Tel. & Tel. conr. bs. Anscostia & Potomac Bs. Anacostia_& Potomac guar. Sa.. ¢'& P. Telephone s, C. & P. Telephone of City & Suburban Ss. Georgetawn Gas lst Metropolitan R. B. Potomac Elec. 1st by Elee. Cons. Rl Riggs Realty 5 hern Bldg. 8%as. STOCKS. PUBLIC UTILITY. American Tel. & Te ital Traction. W Te: Capital Cofumbta Dieemer siriet Farmers & Mecbanic: Federal-American . Liverty Lincoln National United States. Washington Mechanics’. FIRE INSURANCE. American TITLE INSURANCE. Columbia Title.. Real Estate Title. MISCELLANEOUS, Merchants’ Transfer & Storage. 1 Mergenthaler Linotype.......... 1 Natl. Mtge. & Invest. pfd . 014 Dutch Market com 0ld Dutch Market pft Lanston Monotype. Security Btorage. ‘Washington Market. Yellow Cab. *Ex. dividend. | 10 67 Riggs and Commercial Na- tional Attain New Highs. Other Financial Notes. BY CHAS. P. SHAEFFER. A sharp upturn in bank sto. featuring new highs, was the i VEht ~of - today's trading on the Iwashington Stock FExchange. An odd ot of Riggs National Bank shares changed hands at 315, a net advance of eight points over the previous sale. :;iablmhina a new high record for ,.‘: ls’vu» since new stock was issued (‘om:': years ago, while stock of the “‘. h.'Yl‘lfll National Bank reached ighest level in recent years xhen 50 shares changed hands at 145 D;)r:!):l:e::l'::o:‘vll offered at the close Tigys acpsion at 143, with holders of The day's bullish tone also mads itself felt in the bond department Where every active issus was traded In above par. Potomac Electric 6e of 1953 sold at 104, with Gas 6s bring- ing 101%. Railway general and re funding 65 sold at par and a half while C. & P, Telephone &3 brought par and a quarter. . ‘Washington Gas stock was firm at 54, while National Mortgage and In vestment preferred sold at 9% Riggs Bank Oficers. Eighteen vears' service w R - National Bank, beginning 'v‘:‘?‘:‘“‘:‘ lowly position of messenger, had its culmination for Hilleary G. Hoskin son late yesterday afternoon when ha was elected vice president of the In ::-"u(”:;ni, fllling the vacancy recently Creates Yy the resi < g signation of Joshua Mr. Hoskinson has filled every bank position leading up to the hxkhb.:' fice he now holds. His first official capacity was that of cashier of the Hamilton Savings Bank when the Seventh street institution was pur chased by interests fdentified with Rig Later, upon absorption of amilton by Riggs, he returned to the parent institution. Lately he has been local credit head of the hnl}kA He is only 37 years old G. Francis Rainey, in charge of the Dupont Circle branch of Riggs, was elected an assistant cashier, filling the position vacated by Mr. Hoskinson Rainey will continue at the branch. . f’mce(r,:‘ ;){ RIggs re-elected fo ow “harles C. Glover, chalir: of the board: Milton E. Alles, pr:’!l‘dnen'. Robert V. Fleming, vice president and cashier; William J. Flather, C. ( Glover, jr.: Avon M. Nevius ana (George O. Vass, vice presidents; Barle M. Amick, F. G. Burrough, Nelson B. O'Neal and B. nn Dent, assistant cashier; Frank J. Hogan, general counsel and trust officer; George M McKee, assistant trust officer, and 1 J. Noberts, assistant to the president. New Cashier at Columbia. Arthur N. Mitchell has succeeded to the cashiership of the Columbia Na- tional Bank, filling the vacancy cre- ated by the resignation of John N Seltz. An assistant cashier to suc ceed Mr. Mitchell will not be elected at this time. The election proves popular in District banking circles. Officers of the Federal-American National Bank re-elected for the en- sulng year include W. T. Galllher, chairman of the board; John Poole. president; Willlam John Eynon, W. J Waller and Charles B. Lyddane, vic. presidents; Charles D. Boyer, cash- ler; S. Louise Mitchell, William M Seay and H. H. Shackelford, assist- ant cashiers; Willlam C. Johnson, as- sistant to president; Erskine Gordon trust officer, and Leon Tobriner, gen- eral counsel. Made Rallroad Director. Milton E. Alles, president of the Riggs National Bank, has been made a director of the Raleigh and Charles ton Railroad. The carrier is a subsid fary of the Seaboard Air Line. District National's Roster. Formal election of Joshua Evans jr., as executive vice president of the District National Bank was consum- mated at the annual meeting of di- Tectors of the bank ‘yesterday. Other officers re-elected follow: Robert N. Harper, president; W. P. Lipscomb, C. J. Gockeler and N. L. Sansbury, vice presidents; Hilleary L. Offutt, jr., vice president and cashier; Willlam C. Looker and Theo- dore B. Mason, assistant cashlers; Barnard and Johnson, attorneys Wharton E. Lester, counsel and trus officer, and B. L. Colton, assistant trust officer. Liberty's Officers Re-elected. Directors of the Liberty National Bank re-elected the following officers this afternoon: George O. Walson president; E. J. McQuade, vice presi- dent M. F. Calnan, cashler; J. B Skinner, assistant cashier, and T. P. Littlepage, general counsel. W. R. & E. Meeting Tomorrow. The annual meeting of stockhold- ers of the Washington Rallway and Electric Co. will be held tomorrow shortly after noon, at which time share- holders of the local utility will hear one of the most prosperous reports of recent years. o for FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks old value. today. London, pound 345605 $4.77% Montreal, dolla GO0 T franc . Zurieh, franc . Athens, drachmi Madrid, peseta Warsaw, sloty. Copenhagen, crown Cbristiania,” crown Btockholm,’ crowa DAIRY PRODUCTS. BALTIMORE, January 16 (Special) —Live poultry — Young chickens, pound, 30; Leghorns, 20a26; old hens, 20a28; Leghorns, 20a22; old roosters, 17; young turkeys, 40; old, 35; poor and crooked breasts, 25; ducks, 20a30; geese, 22a26; pigeons, pair, 35a40; Fuinea fowl, each, 40a7 Dressed poultry — Tnrkeys, pound, 365a45; poor and crooked breasts, 25; chickens, 24a28; old roosters, 17a18; ducks, 25a30; geese, 20a25. Eggs—Receipts, 477 cases; native and nearby firsts, dozen, offered at 5§; bid, 55%; quotations, 65a56. Butter — Creamery, good to fancy, pound, 38a42; prints, 42a44; ladles, 30a 32; store packed, 22a23; process but- ter, 33a34; dairy prints, 22a25; rolls, 22a25; store packed, 21a22. BUTTER HIGHER TODAY. CHICAGO, January 16.—Butter— Higher; creamery extras, 39; stand- ards, 39; extra firsts, 37%a33; firsts, 353a36%; seconds, 32a34. Eggs—Higher; receipts, 2,631 case: firsts, 57; ordinary firsts, 50a53; re- trigerator firsts, 46%ad7. NEW STOCK COMING. NEW YORK, January 16.—Liggett & Meyers Tobacco Co. on March 16 will Issue to shareholders $10.810,700 additional class B common stock at $25 par. Holders of record February 16 will have the right to sul mne share of B stock for shares of common or B common now held, the proceeds to be used for fur- ther development of the company’s business.