Evening Star Newspaper, February 10, 1925, Page 22

FINANCIAL. CAST IRON PIPE N WILD ADVANE Specialty Shares Dominate . Trading in Uneven Price Movements Today. BY STUART P. WEST. NEW YORK, February 10.—Opera- tions in shares of the specialty class dominated the stock market today. Standard stocks for the most part kept in the background, while such Unitea States Cast Iron another sensational ad- and Mack Trucks and Worth- ington Pump. which rose sharply, were the center of interest. Pool efforts to bid up prices met with ton- iderable success in these and several other instances Tonnage Figures Good. The monthly tonnage figures of the ted States Steel Corporation, out 1oon, were slightly better than the highest estimate The increase in the General Motors dividend to $6 appeared to have baen discounted, at least for the time be- The announcement, made after close of business Monday, was ted today with heavy profit-tak- & sales. Hudson was the leader of the motor group. Studebaker. sclling ex-dividend, just about held its own A further extraordinary rise occurred Mack Trucks. quite ignoring the that nothing more than the ar dividend was declared and carnings for 1924 were off 00,000 from those of the year be- issues as Pipe, with vance, Ing. Rree fo What attracted more attention was the statement that net quick assets will exceed $28.000,000 and that or- ders for December and January broke all records for the period. Split-Up in Plpe Predicted. The latest gossip about United States Cast Iron Pipe is that (hg Ca?'- tal will be split up in the ratio of 4 to 1 and that good sized dividends will be paid on the new stock. Never- theless an advance of such extreme violence went against conservative gentiment, and one house, whose opin- ions command much respect, speak- ing of Monday's rise, asked the ques- tio whether there could have been a change in the worth of a stock to warrane a $20 risé between Satur- day night and Monday morning The pool in Timken Roller Bearing got busy again and made a strong showing. National Department Stores was unusually active at higher prices. “There was more of a demand for Eastman Kodak and a brisk upward turn in Savage Arms. Other Stocks Advance. Worthington Pump was across 70 again and United Realty was another pecialty w figured prominently. Coca-Cola made + new high in tribute to the an- nual report showing $10 a share carned, as against $7.65 the vear be- fore. Although American Locomotive 1924 earnings were much less than those of the previous 12 months. the stock was strong. The possibility of a apital splitup appeared to be the reason back of the jump in American Express. General Electric was active- 1y sold for a time on- the decision of the Senate to investigate the affairs of the company. MAREKET CLOSES STRONG. Low-Priced Rails Are More Active in Last Hour. ted Pres NEW YORK, February 10.—Spec- tacular advances in high-priced specialtics again featured today's ac- tive stock market. The general list displayed an improved tone on lower call money and reports of business expansion. Total sales approximated 1,600,000 es. The closing was strong. Low- priced rails became more active in the late trading, with New Haven, Te and Pacific and Wabash pre- ferred A recording substantial gains. American Express extended its rise to 81; points and Mack Truck and Associated Dry Goods, 9 each. bid By the A Markets at a Glance ‘EW YORK — Stocks — Stfong; ted States Cast Iron Pipe soars points. Bonds—Irregular; profit- taking develops in spots, Foreign exchanges— sterling continues sluggish. Cotto; eady; spot house huving. Sugar—Featureless. Coffee— Easy: lower Brazilian markets. CHICAGO—Whe: liquidation. Corn—Easy; larger coun- try offerings. Cattle—Weak; slow demand. Hogs—Irregular. Weak; general UNFILLED STEEL ORDERS INCREASE Br the Associated Press NEW YORK, February filled orders of the United Steel Corporation on January . made public today, totaled 5,037,32 tons, an increa 220,647 compared with the end of the pre- ceding month —_— BOND CHANGE RAPID. New York Central Debentures Converted Into Stock. NEW YORK, wversion of th of the New February 10.—Con-, per cent debentures York Central Railroad into capital stock is reported to be progressing, with corresponding im- provement in the road's proportion of debts to total capital issues. Before either conversion on a large scale or the recent advance in the stocks be- gan, the road's debt was about $775,- 000,000, while the stock aggregated $283.000,000. This proportion of 72 per cent debt to 28 per cent on stocks has been reduced to about 70 per cent debt and 30 per cent stock. The conversion period expires March 1. —— GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) o Rid. - Asked. 1500.00 1900.00 .00 20.00 sm pleces) 90 re per thousand marke,) Gor Gen Elec 41 pre-war... 2550 26.50 Ger Gen Elec 4125 1919.. Rerlin 4 pre.war.......... Hambg 35, 3los & 45 pre-war. Hamburg Amer Line 4145 North German Liosd 4138, North €erman Liord. Prusslan Consols 3158, Krupp 5s 1921... Dusseldort s pre. Frankfort a-M 4s Munich 45 pre-wa Badische Anilin AE G (Ger Ge Eiec) . Commerz and Privat Bank.. Disconto Gelischaft Dresdner Rank Deutsche Bank .. Darmstacdter Rank Mercur Bank Vienp: POTATOES CHEAPER. NEW YORK, February 10 (Special). White potatoes were in more lib- eral receipt and prices showed a downward tendency. Sacked offer- ings sold at from $2.35 to $2.50 per 150 pounds and potatoes in bulk at $3 per 180 pounds. Cer Gt (war loan) 5s 191418 Hamburg 4135 1919 3233323%32523323 ] Cal Pete (1%) Abitibl Pow (4). Adams Exp (6). Adv Rumiley.... Ad Rumly pf (3) Alr Reduct (15). AJax Rubber. ... Ajax rights... .. Alaska Juneau 1% Allled Chem (4). 86 Allled Cm pf (7) 118 Allis Chalm (4). 77% Am Agricul Chm 20% AmAgChmpf.. b4 Am Beet Sug (4) 41% Am Beet Spf (6) 85 Am Bosch...... 424 Am Can (18).."", 172% Am Car & F (12 203% AmC& Fpf (7). 125 AW Chain A (2). 256% Am Chicle 43 Am Chicle ctts 41 Am Drug Snya.. 6% Am Express (6). 156 Am & Ir P 25m (7 124 Am & For Pow.. 33% Am& FrPpf(7) 91% Am Hide & Lea. 12': Am Hide & Lpr. 71 AmIce (7)...... 88 AmIcept (6)... 777 Am Internatl... 38 Am LaFrn pf (7) 96% Am Linseed. 27 { Am Linseed pf.. 607 Am Locomo (6). 120% Am Loco pt (7).. 121% Am Metal 3)... 5l% Am Radiacor (4) 100% Am Safety Raz.. 39% Am Ship & Com. Am Sm & Ref (6) AmS & R pf (7). Am Stl Fdys (3). Am Stl Fy pt (7) 684 98 14 % 98 14% 49% 87 12% e 1% 88% 118 1% 213% 56% Am Sugar pt (7) Am Sumatra. . .. Am Sumatra pf. Am T & Tel (9, Am Tobacco ( Am Tobac B (7). Am Tobac pf (6) Am Typ Fdrs (7) Am WW&EI 30c Am W W pt (6). Am Woolen Am Wool ptd (1) Am Writ Pap pf. Am Zinc. . Am Zinc pt. Anaconda (75¢c) Archer-Daniels Armour Del (7). Asso Dry G (5).. Ass0 Ol (1%).. AtT&SFe (1) 4tl Birm & At... AtlCoast L (18) AtGuIt& WI... | AtGuira wipt Atlantic Refiinin Atlan Ref pf Atlas Tack . Austin-Nichol: Auto Sales. . Baldwin L (7) Bal & Ohio (5) Bal & Oh pt (4). Bang & Ar (3). Barnsdall A. Barnsdall B Bayuk Clgar Beech-Nut (3 Bethlehem Stee Beth 8tl pt (7). Beth St1pf (8).. Booth Fisheries. Briggs Mfg British Em; .. Bkl Edison (3) Bri-Man Tran. . Bklyn Mab pf (6 Brklyn Un G (4) Brown Shoe (4). Brunswick-Blke Burns Bro (10). Bur Add Ma (3). Butte Cop (50c) . Butte & Superlot Butterick Co Caddo Centra Cal Packing (6). 10: 28% 105% 3% Cluet Pea pt Callahan Zinc. .. Calumet & H (1) 16% *Canada Sou (5). 58 Can Pacific (10). 150 Case Thresh pf.. 63 Cent Leather... 20% Cent Leather pf. 65% entury Rib (2) Cero d Paseo (4) Certain-Teed. .. Chand Mot (3) Ches & Ohlo /4). Chicago & Alton Chic & Alton pf. Chic & East 111 Chi & E 111 pt. Chic Gr West. Chic Gr West pf. Chi Mil &8t P... Chi Mil &S P pf. Chi & Nwn (4) Chi & Nw pt (7). ChiR1& Pac. .. GRI&PPI (7). CRI&PD!(6). Chile Cop (2%). Chino Copper. CCC&StL (5). Cluett Peab (5) Coca-Cola (7). .. Colo Fuel & Iron Colo-Southern. . Col G & E (2.60). Col Carbon (4).. Com Solv A (4].. Com Solv B Congol-Nall Conley Tin Foll. Consol Cigar. ... Con Distributrs. Consol Gas (5) | Consol Textlle. Cont Can (4) Cont Insur (§) Cont Mot (80¢).. Corn Frod (2).. Corn Prod pf (7) 1 Cosden Co. ... Cosden pf (7 Crucible Stl (4). Crucible pf (7).. 9% Cub Am Sug (3). 32% Cuban Am pf (7) 100% Cuban Cane Sug 4% Cub Cune Supt. 62 Cuba Dominican Cuban Dom pf.. iCuba Railway pf Cushmans (3)... Cuyamel Fr (4). Daniel Boone. ... Davison Chem.. Del & Hud (9). Del L& W (6). D& RGWstpf.. Detroit Ed (8).. Dome Mines (2). Doug Rectin (1). Du Pont (8)... DuPont deb (6). Eastman (18)... Eaton Axle Elec St Bat (15). End-John (3)... Eri . Erle 18t pf. . Erie2d pf.... airbks (2.60) Fatmous 1 (8. Famous pf (3). Fed Lt & T (*D). Federal Mines.. 23 Fed Mines pf €7) 63% Fia Phoenix (6) 157% Fifth Ave (61c). 13 Fisher Body (5). 66 Tk Rubber.... 13% ¥ish Rubber pf. 83% Fieischman (14) 81% Foundation (6). 107% ¥rank-Si pf (7). 104% Freeport-Texas. 10% ner Motor.. 11% g:;dAm Tnk (3) 524 Gen Asphalt . 58% | Gen Asph pt (3). 97 | Gen Cigar (8)... 95% | Gen Electric (8) 243% | Gen Elspl (60c). 11% Gen Motors (6) . 8% Gen Mot pf (7).. 108% Gen Petrol (2).. 51% Gen Refrac (2).. b4 Gimbel Bros . 62% Gimbel Br pf (7) 103 23 31 90 74 42 145% 40 47 » 116% 15% 15 4 149% 95% 115% 12% 65% 69% 334 43 41 35 96% 106% 135% 23 63% 157% 13% 66 13% 834 82 108% 104% 10% 11% 52% 58% 97. 9514 243% 1% 79 108% b1% b4 52% 103 Glidden Co....., 16% 16%, Open. High. 95 9% Bla 20% 23% 1% 1027 28% 105 3% 16% 58 150 6: 207 64 39 63% 43 30% 94% 9% 17% 34% 53 13% 30% 14'% 23% 71 4 115% 47% 96% 87 86% 27% 168 63% '| Mallinson & Co.. 79% 84 203 23% 1% 103 2815 105 3% 16% 58 150 63 20% 6415 39% 53% 43% 31 94%, 10 17 35% 53 14 30% 144 23% 71 116% 47% 6% 87 37 28 163 63% 91% 46% 5315 48 494 180 175 145% 140 46 6 115% 16% 15 5 1481 105% 135% 23 624 157% 13 657 12% 8315 831 | 81% 107% 104% 10% 10% ~52% 5715 97 95 285% 1y 1% 108% 60% b4 5214 103 15% 95% 115 1244 65 691 820% 2% 41 35 954 105% 135% 23 624 167% 13% 66 125% 82 107% 104% 10% 10% b2t | Se 57% 97 95 239% 1% 78 108% bl% b4 52% 103 16% THE EVENING -STAR, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High, Low. Oloss. 39 39 39 39 484 48K 474 4% Goodrich of (7). 95% 95% 95% 95% Goodyearpf.... 931 934 92 92 Gdyear prior (8) 106% 106% 1064 106% Granby Consol.. 20% 208 20% 20% Grt North pf (§) 70% 70% 70 70 Grt Nor Oro (4). 38% 39% 38% 38% Grt Wstn8u (83) 94% 94% 94 94 Greene Cahan... 17% 174 17% 17% Guantanamo. 5% 5% G% 5% Gulf St Steel (5) 93% 93% 92 92% Hartman ($2.50) 323 3215 33 Hayes Wheel (3) 39 aT 37% Hayes W pf (71 103% 103% 103% 103% Hoe & CoA (4). 4% 4T% 4% 47% Homestake (17) 44 44 44 Househ I’ (13%) 36% 36% 364 Houston Oll, 821 82 82 Hudson Man.... 26% 25% 26 Hudson Mot (3). 39% 394 4l Hupp Mot (1)... 16 16 Illinois Cent (7) 1154 1164 Independ Oil (1) 26% 26% Indian Refining. 8% 8% Inland Stl (2%). 483 48% Inspiration Cop. 30 29% Interb Rap Tr 33% 32% Internat Agrf... 13 13% Int Bus Mac (8). 124% 124% 123 Int Cement (4). 57% 574 IntCom Eng (2) 33% 33% Internat Har (5) 107 107% Int Mer Marine. 13% 13% nt Mer Mar pr.. 50 49% Internat Nickel. 27% 27 [nternat-Paper. 57z B6% Int Pap pfst (6) 76 . Int Ry Cent Am. 19% 19% Int Tel & Tel () 93 93 Intertvpe (i113) 25% 25% Iron Prod (n)... 92 92 18% JewelTea...... 18% 19 Zewel Tca pf.... 1035 1044 103% Jones Bros Tea. 21% 21% 21 Jordon Mot (3).. 45% 45's 44%s Kansas & Guif.. T Kan City South. 38% Kayser (Jultus) 25 Kelly-Sprigfield. 16% Kennecott (3).. 557 Keystone T& R. 2% 2% Kresge Dep Str. 34 34 Laclede Gas (8). 140 140 Lee Rub & Tire. 13% 13! Lehigh Val (3%4) 176% 6% Ligitt & M (14). 69% 697 69% Lix & My-B (14). 69% 69% 69% Lig & My pf (7). 117% 117% 117% Lig & Myrsrgts. 8% 8% 8% Lima Loca (4).. 70% 693 Loews Ino (z).. 234 23 Loft 64 6'a Loose-Wiles Bis 85 83% Long Bell A (1). 49 48% Lorrillard (3) 347 34% Louisiana Oil. 22 21% Ludlum (2). 37% 3% 85 McCro (1.60) B.. 87 87% Mack Trucks (6) 139% 148% 139 Mack T 1st (7).. 106 106 105% Macy HR&Co.. 76% 76% 15% Magma Copper.. 41's 41% Magma Coprts. 1% 1y 28% 29 53 53 82 82 43% 43% 5lly Gold Dust. . Goodrich o8 761 19% 93 25% 105 37 24% 16% 55% 24 34 140 13% b5 Manati (5) Manati pf (7)... Man E1 Sup (4). Man Elmd g (5) 51t Manila Electric. 29% 29% Maracaibo Ofl... 3214 224 Market St prior. %60l 50'% Marland Ofl..... 43% 447 Marlin Rockwell 111 117 Martin-Parry 4. 35 35 Mathieson Alka. 67 731 Maxwell Mot A.. 814 B8l% 79% Maxwell Mot B . 88% 387s 37w May Dept St (5). 105 107’3 105 Mexican Seabd... 16% 16% 16% Metro G pf (1.89) 20 20 194 MiamiCop (2).. 22% 2% 22i Middle States. .. 1% 1% 1% Midind Pr pf (8) 100% 101 100% Minn & St Louls 8% 5% 5% Mis Kan & Tqx. 364 37— gbls MEK&TDSf (5).. B4% 85% B4n Missourl Pacific 40% 40% 891 Missouri Pacpf. $1's 821 80% Mont Power (4). 68 68 68 Montgom Ward. Bl1%4 52 E0% Moon Mot (3)... 24% 244 24% Mother Lode 750 8% 8% 8% Mullins Body... 17% 17% 17% Munsingwr (3). 33 [ Nat Acme...... Nat Biscuit (14) 69y Nat Dairy (3)... 46% Nat Dept Stor 40%; Nat Distillers pt 66% NatEnamel &S A% Nat Lead (8).... 161% Nat Supply (3).. 67% Nat Sup pf (7). . 107 Nevada Copper.. 16% NY AlrBr (4).. 501 NY AirBr A (4) 56% N Y Canners (2) 33 N Y Central (7). 123% NYCStL (6)... 5 128% NYC&StL pf (6) 91w N Y Dock pf (5). 5674 SN Y & Harl (5). 175, NY NH & Hart.. 30% NYO& Wst (1) 22% Norfolk South 22% Norf & W (18).. 128% North Am (3.40) 45 North Am pf (3} 47% North Pac (8)... 0% 51y Ontario Mining. Orpheum (1.80). 27 Otis Blev (15%) 91 Otis Steel....... 10% Owens Bot (3} 45% 30 Pacific Coast. Pacific Gas (8).. 105 Pacific Mall. 10% Pacific O1] (2) 62% Packard (11.50). 16% Pan-Amer (4).. 3% Pan-Amer B (4) 3% Paris & Bsta... 1% Park & Tiiford. 32 Penna C & Coke. 2014 Pennsy RR (3). 47% 48 47% Penn Seab Steel. 21 2% 21 Peorles Gas (8). 114 114% 114 Pere Marq (4).. 69% 704 69% Pere Mar pf (5). 74% Td% 744 Pere Mprior (5) 82 82 82 Phila Co (4) 5% B5% 54l Phila& RC&I. 50% B50% d49% Phillip Morris.. 154 156% 14% Phillips Pet (2). 43% 444 4315 Pierce-Arrow.. 13% 13% 13y Plerce-Arrow pf 50 30 494 Plerce Ofl. R 3 214 Plerce Oll pf 87 37 Plerce Petrol. Th o Tw TH Pitts Coal . 62 524% Pitts Coal pf (6) 98 98 Pitts Stl pf (7).. 100% 107% 100% Pitts Ut pf (1.20] 13% 14 - 13% Pitts & West Va 70% 71 70% Postum-Cer (4). 98 98 975 Press Steel Car. . 644 6444 63% PrstCarpf (7). 87% 87% 87% . Prod & Refiners. 30 30% 30 PubSerNJ (5). 71 71% 71 Public Servrts.. 27 21 27 Pullman Co (8). 142% 143 142 Punta AlSu (5). 44% 45 44w Pure Ol (1%). 31% Radlo Corp of A. 65% Radlo-C pf (3%) 51% Ry Stl Spg (8).. 184 Rand Mines 1.71. 34% Ray Cons Cop... 16% Reading (#).... 79 Reading rts. 22% Reading 18t (2). 31% Read 2d pf (2).. 41% Remingtn 1st (7 100 Replogle Ste; 20% Rep Ir & Steel.. 57% Repl&Spt (D). 94 Reynolds Sp (1) 16% Rey Tob B (3)... 78 Rossia Ins (6)... 92% Roy Dutn 4.42% 55% sepn LA (2) 43% SiaSmr & 6 StLSanF pf (6).. 82 5tL Southwest. B1% vage Arms... Senuite e l;ga 43% al AlrLipf.. e Roebl (611594 Seneca Copper. % W% oag Shell Union (1). 26% 271 28y Shell Un pf (6).. 101% 1013 101% Simmon Co (2).. 81% 371 873 Simms Pet (50c) 22% 227, 324 Sinclair Oll. . 22% 22 21% Sinclairpf (8)... 91% 91% 91 Skelly Oil 29% 29% 29 Sloss-Sheft (! 95% 944 South Port 8 (6. 63 664 1074 46% 30 106% 10% 63 15% 3% 4% 1% 32% 20% 105 10% 625 15% 13% 4% 1% 82% 20% 31% 31% 65% 63% 52% 51% 134 133y 34% 343 16% 161 9% 78% 28 22y 3T% 37% 41% 41 100~ 100 20% 20 58 5714 94 9q ég:‘; 1515 ki 92% 92y b6% 56% 43% 43 0% 681 82 82 51% 50% 89% 86 116% 115 2445 235 43% 423 160% 16916 ¢ | Telautograph. . WASHINGTON, MOVES ARE MIXED IN BOND MARKET C. & 0. and B. & 0. Liens Are Strong—0ils Unsettled. Liberties Firm. BY GEORGE T. HUGHES. Special Dispatch to The Star. 7 NEW YORK, February 10.—The in- teresting point about today's bond market was the fact that there was s0° little response in quotations for high-grade bonds to the firmer tone in the money market. The demand continued unabated and while quota- tions did not advance the fractional losses certainly revealed no anxlety about the future of interest rates. Issues of the grade slightly below the hest were distinctly firm and for bonds vielding 5% per cent or better the tone was strong. New York, Chi- cago and St. Louls 345 and Baltimore and Ohio convertiRle 4335 are types of the bonds in especial favor. Rallroad Liens Gain, Interest was renewed in the lative rais, but trading was at more moderate rate. Chicago and Eastern Tllinois bs, which had been heavy Monday, resumed their ad- vance, merger reports again belng assigned as the -explanation. There was heavy trading in the new Den- ver, Rio Grande and Western 5s, but with little net change. Chicago and Alton 31s held around their recent high and Seaboard Air Line 6s sold The Seaboard. has asked ¥ to issue $2,845,000 addi- tional bonds secured under the con- solidated mortgage and with 6 per cent coupons. Brooklyn Manhattan Transit were the leaders In the tractions. In- terborough Issues were firm, as were the Third Avenue refunding 4s and adjustments, but made little further progress. Large blocks of Virginia Carolina Chemical 7s were taken at the new high price on this movement Polish Loan Tomorrow. Tt was reported this afternoon that the new Poland loan would be offered Wednesday to the amount of $35,000,- 000, with an § per cent coupon and priced around 95 Poland. 6s, on the exchange, were fractionally high- er. In general. however, foreign bonds were heavy. German 7s drag- ged along below 95 and there was no 6s |improvement in French issues Today’s new offerings included $2,000,000 Southwestern Power and Light debenture 6s to vield 6.55 per cent and $8,820.000 Missouri Paclific 5 per cent equipments at prices to vield from 4.25 to 5 per cent e . WOOL BIT CHEAPER. BOSTON, February 10 (Special).— Trading in the Summer street raw wool market was spotty today, with a softening tendency displayed in some cases. Not enough salés were made, however, to establish firmly lower price levels. Western growers who still have their growing clips uncontracted are holding firm for higher prices. rn-icn 0!" GAS C;IT. Ga., February 10 (Special). —The Macon Gas Company has cut the price of gas to consumers in an effort to regaih the business of man- ufacturers who had gone back to the use of coal and coke. TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 4s March 15, 4%s March 15, 412y June 15, % 2Ns September 15, "19: 4% December 15, 1925 4%s March 15, 1926 4i¢x September 15, 1 43,8 March 15, 1 101 81.32 102 118 s December 1; 101 31-32 102 1-16 —_— South Pac (6).. 105% 106% 106 1054 Southern Ry (5) 89 99% 88% 89% South Ry pf (5). 36'% B86% 86 564 Splcer Mg . 17% 18 174 18 Spicerpf(8).... 94 94 94 94 StdGas& El(3) 43 43% 42% 43% Stand Mill (3).. 67 67 67 67 Stand Millpf (6) 83 83 83 g3 StOfl Calit (2).. 65% 65% 64% 647 StOINJI (1)... 456 45 44% 447 Std PlateGlass. 13 13 11 12 Sterling Prd 6% 63% 63% 63 63% Stew Warner (5 7444 75 7815 75 Stromberg (§).. 72 72 72 72 Studebaker (§). 4% 44% 44 4% Studebak pt (7). 114 114 114 Submarine Boat 9% 9% 9% Superior Oil.... 6% 5% 5% Symington..... 15% 16% 16% Symington (A). 224 22 22 4% 14% 14% 9% 9 9y 4T% 4TH 4TH % 106% 104k 1043% 58 . 49k b2% 22 21% 21% 14% 14 14 U6 W5 146 43% 426 a2y % 5%, 76 97 96 ' seyu 5 4u 4% 39 40 414 50 5 30% 64% 116% 215 55 220 i1 35% 24% 824 128 129% 42 9% 344 46 126% 1235 ay 88% 9k 48% 29% 12% 69% 1% | 1101532 1013 101 13-32 101 17.32 1001316 101 1 Tennessse Coppe Texas Co (3)... Tex G Sul (17%) Tex & Pacific.... Tex & Pac C &0 Third Avenue. .. Tide Wat Oll (4) Timken (13%). Tobac Prod (6). Tobac Prod A (7 Transcont Oll... Underwood (3). Un Bag & Paper Union Ot (1.80). Un Pacific (10) Un Pac pf (4) Utd Alloy Steel. Utd Cigar (13%) United Drug (6) Utd Fruit (10).. Utd Ry Inves pf. U S Cast Iron P.. USCIPPL(N).. U 8 Distributing U 8 Hoff (500). . 8 Ind Alcohol 39% 43% 41% 151 75 30% 64% 117% 216 57% 239% 111 36% 24% 83% 131% 129% 43% 7% 34% 46 127% 123% 48% 93% 9K 41% 7% 30% 64% 117% 216 55% 220 11 35% 24% 82% 181 129% 43% 9% 343 46 127% 123% 44% 88% 9% 48% 49 29% _30% 124 * 121 69% 704 1% 1i% 24% 25% 63% 64% 44 44y 17% 96% 116% 16% 24 354% 9% 120% 105% 2% 13 15% 29% 30 S Smelting. .. USSmpt (3%).. U SSteel (17)... U S Steel pf (7). Universal Pipe Univer P pf (7). Utah Copper (4) Utah Securities. Vanadium. Va-Caro Ch p! Va Ry & Power.. Vivadou... Wabash. .. Wabash pt A Wabash pt B Waldorf (1%)-. ‘West Pen pf (7). West Blo pf (7). West Maryland. West Md 2d pf. Western Pacific. West Pac Dt (8- West Union (7 West Alr Br (6). westinghse (4. Weston El6C.....c. t30n & CO. -« ovofl‘-.n‘ or PL... w::'lworm 3. Worthinston. Worthington A © Worthington B ¢ Wright Aero (1) 18% Wrigley (3).... - 50% YoungstnS& T. 6% *0dd lots. {Partly extra. 3Payabl Dividend rates ‘as_gives are the annual Iatest qu-mdL haif-) noted, s 17 68% 864 T34 D. TUESDAY, FEBRUARY 10, 1925. FINANCIAL. [owre o BONDS o] (HEAT COLLAPSES | Received by Private Wire Direct to The Star Ofice. UNITED STATES BONDS. (Sales are in $1,000.) Sales. High. Low. Close. 58 101 22 101 18 101 22 2 100 29 100 29 100 29 35 101 30 101 26 10180 238 1014 1011 1014 134 101 14 10111 10114 Lib4 4%s.. 94 101 10128 10128 US4s1944. 16 100 29 100 27 10027 US4%s'52. ~8 106 10424 10424 FOREIGN. Sales. High. 1 34% 70 96% 74 96% . 21027 . 30 95% 2 99% 20 87% 94% 169% 93% 85% Lib3y Lib 24 Lib 1st 4% Lib2d 43 Lib 3d 4%, Low. Close. 84k B4% 9614 96% 95% 964 102% 102% 94% 94% 99% 99% 8% 8Th 94 94 109% 109% oz 92 sou 8% 23y 8% 107 107 97% 98% 101% 101% 4 1024 102% 4 1034 1037 103 103% 100% 100% 10245 103 108 108% 107% 1074 44% 4412 Argentine 5 Argentine 6 Argentine 6s B Argentt; Austria7s... . Bank of Japan Belglum s wi., Belgium 634 w1y, Belglum 7%, EBolivia 8g. Bordeaux 6 Brazil7a Brazil 73 Brazil gs.. .. ] Cunada 65 1938, Canada 5s 1931 Canada 5s 1952 107 Chile 85 1941, Chile 85 1946. ... ., Chinese Gov Ry 68 Copenhagen 6%s.. Cuba 5%s. .. Czecho 8s 1951. ... Czecho 8s 1952 ct., Denmark 6s. DE15%s Nov '53. Dutch East I 68 *47 Dutch East | 2 Finland o f 65 1945 Framerican 73%s.. French Tswi ..... French Govt 7%s. French Govet 8s. Germany 7s w | Ger Gen Elec Hungary 6% Japanese 4s e 61 Jergens U M 6s 47 17 Lyon Mexico 55 Netherlands 6s'72. Norway 6s 1943... 3 Norway Norway Norway 8s. . . Orient Dev deb 6s. Parls-Ly's-Med 6s. Paris Orleans Prague 7%s Rio de Jan Rio de Jan . Rio Gr Do Sul 8s.. Sao Paulo City 3s. Sao Paulo State s Seine Dept of 7s. Serbs Cr'tes Slo Solz=on« €8 - Sweden 5%s ui.... Swiss 5145 1948, Swiss Confed 88 Tokin 6. . Ud Kingm 5% Ud Kingm 5% Ud Steam Copen 65 Uruguay s 4 ~ MISCELLANEOUS. Ajax Rubber 8s... & 987y Am AgrCham5s.. 2 100 116% 106t 9414 1074 agiy 109 1904 98% 96T 108 101% 96% 100% 9514 101% 951 53% 1003, 10315 Am Agr Chem 7%s 54 101 AmChainsf6s'33 8 99 AmSmit & R 1st 62 29 974 AmSmit&R6s... 108% Am Sux ref 68 162 Am T & T cl tr 4 9674 Am T& Tcl tr bs.. 17 100% Am. T.& T. SF 5a.114 95% Am T & Tdeb5%s 34 1024 Am Water Wks 5s. 21 Am Writ Paper 1 Anaconda 1st 6s... 47 Anaconda cvdb 7s 17 Armour & Co 4%s. 2 Armour of Del 6% Associated Oil 6 Atlantic Refin 5 Bell Tel Pa b Beth Steel pm 6s.. Beth Steel rf6s... Beth Steel 53%s'53 Beth Steel s £ 6s.... Brier H St 1st 5%s3 Bklyn Ed gen 58 Bush T Bldg 58 Calif Pate 6%s. Central Leather 58 Chile Copper 6: Cin G E5%s 62 Col Gas & El b Col Gs & Fl 58 sta. Commonwth P 68 Con Cqal Md 1st b Consumers Pow s Cuba Cane cv 7t "3¢ Cuba Cane cv d 8s Cuban-Am Sug 8s. Denver Gas bs. .. Dery (DG) Ts... Det Edison 55 "40 Det Elison ref 6 Du Pont de N 7%s. Duguesne Light s Est Cuba Sux 7%s Empire G&F 7% Fisk Rubber s Gen Elec deb 53 Goodrich 6%s. Goodyear 8s 1931. 38 30 15 l23 12 943, 102% 1604 110% 101% % 100% 100% © —te IS OB mBaRRalonRa Goodyear 8s 1941. Hershey 6s 1942 Humble O&R 6% Tllinois Bell 1st 1llinois Steel 4%s. Indiana Steel 5s. Int Mer Marine és Inter Paper 58’47, KCP & Lt 58 A '52. Kan G & El 68’5 Kelly-Spring Lackawa S 5s 5 12 20 9 13 Ligwett & Myrs & Lorillard (P) Magma Cop cv 7 Manati Sug sf 7 Midvale Steel b Montana Pow 6 Mor's&Co 1st 4% New Eng Tel &s... 26 N Y Eden 1st 6148. 16 NYG EL H&P 1 N Y Tel 4%3 18 NY Tel : “1. NY Tel North Am Ed North Am Ed 6%s. 11 21 1 6 6 12 6 24 7 14 Nor States Pow b 8 N:r States Pow 6s. l! Otis Sud‘ 1“/-- i R Otis Stee! PIC-"‘I: Gas & E1 63 10 PacT & T 1st B8, . 14 Pacific T & T bs '63320 Pan-American 6s. 1 Phila Co 5‘/?’1! Phila Co ref 68 Phil & Rdg C&I Plerce-Arrow 38 Public Service 6 Punta Alegre 7 Sharon St1 H 8s. sinclair Oil 6 Sinclair Ol 6% Sinclair OiL ’ll’ 4 S flv.on 618 32 RicoSug s 1 13 Bell Bt 4 19 10 14 27 52 2 26 6 64 46 2 12 5 25 4 3 66 68 6 5 8L 8 11 93 22 6 10 1 6 9 ‘Wickwire Spen 7 Willys-Ov §%8'33. Wilson & Colatés ¢ 9¢ flson&C cv 7%s. 10 665 Winchester A 1%8 .3 102 102 Youngsta SAT 6s., 8 99 95% RAILROADS. Sales. High. Low. Close. Ann Arvor Atchlson Gen 4s Atlantic C L 1st 4 Atlantic C. L. 7s. B & O gold 4 88 92 29% 101% 1034 103% 99% 42 1 48 4 22 CentofGa6s...... 40 Central Pacific 4s. 15 Ches & Ocv 48, . Ches O gn 413 Ches & Ohio Chi & Alton 3%s.. 81 CB&Q-Il3%s... Chi & Alt 3348 ctfs CB & Q-11l div 4s. Chi B&Q 1st rf 5 Chi & E T gn bs Chi Great West CM & I'uget Sd Thi M & St P 4s ‘25 Chi M & St P 4s '34 Cni M&St P cv 430 Chi M&St P rf 4%s Chi M & St P cv 53, Chi M &St P 68 ChiRI& P gn 4 Chi& N W 61 Chi RysBs..... ChiRT& Prfds ChHITH&SE5s.. Chi Un Sta 41 Chi Unton Sta 5s. . Chi Un Sta 6% Chi & W Inccn 4s C&W T 5138 62 wi. CCC&StL5s..... CCC&StLrf6nA. Cleve Tarm bs w 1. C. & S. 1st 4s°29. Colo & Sou 4%s. .. Cnba R R 58 < Cuba RR 7%s Del & Hd Ist rf 4 Del-Hud cv 55 ‘35, Del & Hudson 5%s Den & Rio G cn 4s. D & Rio G imp 5 D & Rio G Wst bs. Erle 1st cons 45 Eriv gen 4s. Erle conv 4s A. Erle conv 4s B. Frieconv4sD.... Erie Genessee R 63 Erie & Jersey 68 Gr Trunk st db 6s Great North 5 Gr North 5% Gr North gen Green B& W ab B. Hud & Man ref 5s. Hud & Man 2§ 5 111 Cent ref 55 Tl Central 5%s. .. 111 C-C St L&NO 53 Int Rap Tran 5s. .. Int Rap Tr 6s stpd. Int Rap Tran 6s.. Int Rap Tran Int & 6 Nor 1st 6s. (nt & G Nor aj 6: Towa Cent rf 43 lowa Cent 1st 5 Kan City Ft S 4 Kansas City 8 3 Kansas City S 5s. Lake Shore 4s '28. Lake Shore 4s°31.. Louis & Nash 5148, e o P ol a Gas wampaBeRO G Manhat Ry cn 4s.. Man Ry 2d 4s 2013. Market St Ry Mil El Ry & L 5i M StP & SSM cn 4s M StP & SSM 5 las M StP & SSM 6138 MK & T 1st 43. Mo Pacific 55'65, Mo Pacific 6s. Montr] Tin 1st 5: Nassau £ Ry 4557 NOTex & Min 5s. NOTex & M 58 B. N Y Cent cn 48 '98. N Y Cent deb 43 N Y Cent ri b8 N Y Cent deb 6s NYC &St Ldb NY Chi & St L5%s 62 NYC&StL6sA. New Hav d 48’57 New Havcd 6s New Haven 7s fr..428 N Y, Ont, Ws 1st 48 20 New York Ry fr 48 NY Ry rf 4s ctfs New York Ry aj s NY Rysadj 5sct.. : N Y State Ry 4% NY W & Bos 438, Norfolk & W cn 48 Norfolk & W ¢v 6i Northern Pac 3: Northern Pac 4s.. Northern Pac 53 D Northern Pacr1 Ore Short Liref 4 Ore Sht Licn 53 '46. Ore-Wash st rf 4s Pennsy1 con 4%: Pennsyl gen 4%s. Pennsyl zen bs.. Penn. bs. 64 Pennsyl 6% Pennsyl gol Peoria & E inc Pere Mara ist b Por RL & P 6847, Reading gn 4%s. . Rio G West 1st 4 Rio G West cl 4s. RIATk &L 4% St LIM&S R&G 48. St LIM&S 4s°39.. StL&SFpl4sA StL&SFprinb StL&SF5%sD StL&SFadjbs.. 2 StL&SFinc6 StL&SF pl 6sC. St P & KCShL 4% San 4 & Arn P 4 Seab’d A Liref 4s. Seab'd A L 4s sta Seab'd A Liadi b8 Seab'd A Licon 68 Sou Pacific 432! Sou Pacific ctl 4 Sou Pacific ref 4a Southern Ry gn 4 Southern Ry 1st bs Southern RY 68 ct. Southern Ry 6%8 Term Asso St L 4s. Third Ave ref 4s... 84 1024 106 109% 83% b8l 49 923 85% 9914 1054% 103% 96% 9244 100% 96l 66% 93 2% on Pac 1st 4 g::on Paclstrfis Union Pac 48 '37... Un Polstrf6s.... Union Pac cv 63. Virginia Ry st Va Ry & P 1st b Wabash 1st Wabash 2d 58 Western Md 4s. Western Pacific bs Wilkes B&E 1st 53 ‘Wisconsin Cent 48, T77e1 91 07% 107% 1 107% 1075 197 87% 9144 89% 100% 102% 102% 99% 69% 85% 88 87% 79% 1084 970 105 82% 98% 93% 103% 984 110% 103% 56% 99% 984 92'y 87. 4% 874 86 94 70% €93, 9% 88 81k 103 84 83% 65% 781 7% 101% 105% 109% 834 5715 484 92 85% 9914 1054 108% 95% 9235 100% 96 6614 93 824 T4 65% 80% FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Sellis #old value. *. $4.8665 1.00 Zurich, Athens, Madrid, peseta. Yiemua, ‘crow Copenbagen, cf Christiania, crown, Stockholm, crown Tight Krup) 65 9% T ‘L% #O% 101% 102% 102% 9% ng checks oday. 34785 dentists are employed by in the department for making false teoth of stesl, |in the cotton market here or in Liver- | 25.00a30.00. { 4.50. Prices Plunge Down Six Cents Per Bushel—Break in Liverpool Also. By the Associated Press. CHICAGO, February 10. — Wheat prices plunged down nearly 6 cents a bushel today within hardly more than an hour. The May delivery went as low as 1.85%, as compared with 1.90% to 1.91 at yesterday's finish. Selling was active and general, and the mar- ket without any adequate support This selling was asribed largely to a pronounced break in Liverpool values and to suggestions that price fluctuations in this country be artifi- clally restricted. The opening, which ranged from 1 to 31, lower, with May 188 to 1.89 and July 1.60 to 1.601%, was followed by a further downtown to 1.86% for May and then by a moderate rally. Increasing stocks of corn, together with slowness of cash corn demand, had a depressing effect on prices of ecorn and oats. After opening at % to 1% off, May 1.32% to 1.33, the corn market sagged a little further and then recovered somewhat Oats started at % to % down, May 59% to 60, and later continued to weaken. Provisions were about steady. Open. High. Low . 188 189 183y 1h0 160% 15 . 14T 1473 1 Close 4 1.83% 567 157h 413 1 September RYE— May July - September ... 122 A COTTON QUOTATIONS « ARE HIGHER TODAY Dry Weather in Texas Active Factor in Stronger Mar- ket Prices. By the Associated Press NEW YORK, February 10.—Reports that Lancashire spinners of Amer- ican cotton had voted to reduce their working hours from 39% to 35 a week appeared to have little effect pool in today’s early trading. Cables were better than due, and the local market opened steady at an advance of 7 to 13 points. Prices eased off a few points after the call under liquidation, May sell- ing at 24.52 and July at 24.81, but the market soon stiffen€d up on covering and trade buyving promoted by con- tinued complaints of dry meather in Texas. May sold up to 24.61 and July to 24.88. making net advances of 11 to 12 points on old crop positions, while October at 24.69 showed a net advance of 15 points Quotations in New Orleans. NEW ORLEANS, February 10.—Cot- ton futures opened steady; March, July, 24.54; October, December, 24.36 bid. GRAIN AND PROVISIONS. ~ BALTIMORE, Md., February 10 (Spe cial).—Potatoes. per 100 pognds, 1.25 1.65. Sweet potatoes, barrel, 2.50a5.50. Yams, barrel, 3.0024.00. Beans, hamper, 2.00a4.00. Beets, 100, §.00a10.00. Broc- coli_and kale, bushel, 50a60. Bruseels sprouts, quart, 15a%5. Cabbage, ton, Savoy. bushel. 65a90. Car- rots, 100, 7.00a8.00. Caulifiower. crate, 2.50a2.75. Celery, crate, 2.50a3.25. Efg- plants, crate, 3.50a6.00. Lettuce, baskets 2.0023.00. Onions, 100 pounds, 2.75a3.2 Oysterplants, 100, §.00a10.00. Parsnips, | basket. 75a30. Peas. hamper, 3.00a5.00. Peppers, te. 0a5.50. Spinach bushel, 1.50a1.75. iquash, crate, 3.50; Tomatoes, crate, 2.00a4.50. Tur- nips, basket, 60a75. Apples, packed barrel. 3.50a7.50: bushel, 1.00a2.25. Cranberries, box, 5.00 a6.00. Grapefrui box, .00a3.00. Oranges, box, 2.75a4.50. Strawberries, quart, 35a50 Selling Prices at Noon. Wheat—No. 2 red Winter, spot, ex- port, no quotations; No. 2 red Winter, spot. domestic, 2.00 nominal; No. 2 red Winter, garlicky. domestic, $2.00 nomi- nal; No. 3 red Winter, no quotations. Sales—None. Corn—Cob, new, yellow, spot Rye—Nearby, 1.40a1.60; No. 2 2z nominal. Hay—Receipts, 51 tons. Receipts of g00od hay of both timothy and light clover mixed are light, and prices are well sustained under a fairly good de- mand. Low grades, inferior and dam- aged hay has no settled market value and is dull. > Quotations today—No, 2 timothy, 20.50a21.50; No. 3 timothy, 17.00219.00" No. 1 light clover, mixed, 19.50a20.00. No. 2 clover, mixed, 17.00a18.00. Straw—No. 1 wheat, 16.00a17. ton; No. 1 oat, 16.00a17.00; straight rye, 18.00a19.00. —— DAIRY PRODUCTS. BALTIMORE, February 10 (Spe- cial).—Live poultry—Young chickens, pound. 22a30: Leghorns, 21a26; Win- ter, 32a33; old hens, 20a25; Leghorns, 20; roosters, 15al6; capons, 32a3S; young turkeys, 40a45; old toms, poor and crooked breasts, 25; ducks, 24a 32; geese, 22a26; pigeons, pair, 35a40; guinea fowl, each, 40a85. Dressed poultry—Turkeys, pound 35a45; poor and crooked breasts, 2 chickens, 25a30; old roosters, l5all ducks, 24a30; geese. 20a25. Eggs—Receipts, 377 cases: and nearby firsts, dozen, 47a48, Butter—Creamery, good to fancy, pound, 37a42; prints, 42ad4; ladles, 27a29; store-packed, 21; process but- ter, 33; rolls, 21a24; dairy prints, 21224, rye, 0 per No. native SHORT-TERM SECURITIES. (Quotations furnished by Redmood & Co.) —Noon. — Bid. Offer. Aluminum Co. of Amer. 1073 American Sugar 6s 1937 101 Amer. Tel, & Tel. 8 1935.. .0 127 Anaconda Copper 6s . Anglo American Ofl 7'5 Astoctated Oil 68 1835 0. & Ohio_6s 1929. Bell Tel. of Canada o5 1 Central of Georgia 6s 1029..... Cent. Leather 5s, April 15, 1925, Chi., Mil. & St. Paul 6s 1934... Chi., R, I. & Pac. 5lgs 1921 . CIt’ of ' Lyons 6e 1684...... Columbia Gas & Fl. 1st Continental Gas & Elec s Du Pont 7i4s 1931. . Federal Sugar Ref Federated Metals 7s 1939. Goodyear T, & R. 8s 1931. Great Northern 7s 1038 Gulf 0l lkr% of Pa. 5155 1928, Humble 0il s 1932. 1 Lehigh Pow. Bec. Corp. 6s 1927. M., St. P. & 8. 8. M. 8345 1931 Morris & Co. 7143 1630 New York Central 6x 1 Oregon Short Line 4s 1929, Penna. R. R. 78 1930. Pure Oil 58, Angust Swift & Co. 5s 1932, | transmission | common stock {in Chicago. Tidewater Oil 6las 1931 Union Tank Car 7s_1830. U. 8. Rubber 743 1930, Westorn Union 6i4s 1636 Westinghouse . 78 Fisher Body Corp. '6s 1027 ment Feb. 1, 1925, at 101%. Fieher "Bty Corp 8 1828 ca ment Feb. 1, 1925, at 102, et soe pay- lled for pay- LANSTON DECLARES | INEARLY TRADING| USUAL DIVIDEND Earnings About Same as Last Year—North Ameri- can Expands. BY CHAS. P. SHAEFFER. Directors bf the Lanston Monotyps Machine Company have declared the regular quarterly dividend of 1% per cent on the capital stock of the com- pany, payable on February 28 to stockholders of record at the close of business February 18, 1925 ‘While earning statistics of the com- pany are not avajlable, except for use of directors, it is'understood the type- setter's income for the present fiscal vear closely approximates that of last year, when a return of $10.49 per :Y;::e was reported on February 28, The present market level would bear out this opinion, as the stock has advanced only 3 points in the last 12 months. The company is capi- talized at $6,000,000 The annual report of the companw will be made public in May. North American Expands. Announcement made that the North American Co. has acquired more than 99 per cent of the common stock and more than 40 per cent of the preferred stock of the Peninsula Power Co., with prop erties in porthern Wisconsin and the Upper Peninsula of Michigan. As soon as weather conditions permit, wor will-be started on high transmissior lines connecting the peninsular gen erating stations with the Wiscons properties of the North American system Ownership of the Peninsular proj erties, together with the projec lin will give th North American Company an inter connected system traversing the en tire eastern part of Wisconsin, ex tending from the Illinois State line through the most important indus trial centers in the State to th igh ich The Peninsular Company's proper- ties at present comprise 4 hydre electric plants, a steam power plant 40 subsidiaries and 245 miles of trans mission lines. The vearly output o these plants is more than 60,000,0¢ kilowatt hours. B. Way, genera manager of the Wisconsin propertic in the North American system, ha 2lso assumed the management of i Peninsular Company as president Lunston Out on Exchange. Today’'s session on the Washington Stock Exchange was dull and unir teresting. Ten shares of America Security and Trust Company soid a 320, and five shares of Federal-Ame: ican National Bank brought ° Lanston was traded in to the exte of 10 shares at 781, and a like nu ber of Gas shares brought 58% tional Mortgage and Investment pr ferred was unchanged at 93 New Freight Reeord Made. Revenue freight loaded on Amer can railroads in the first five weeks of this vear, totaling 4,450,933 car established a new record for th period, according to an announceme today by the American Railway A sociation. The total exceeded by 156,723 cars or 3.6 per cent, the loadings for the corresponding period of last year, and by 211,614 cars, or 5 per ceat, the loadings in the same period of 1923 The total of 896,055 cars loaded in the week ending January 31, how- ever, was a decrease of 28,199 car- from the preceding week and 33,655 cars from the corresponding week last year. Forest products and live stock were the only commodities showing an increase in the week, grain and grain products and coal being among those showing a de- créase. Stock lssue Ready Soon. Baker, Watts & Co.. Redmond & C Hambleton & Co., and Brokaw & C expect to offer this week 20,000 shares of 7 per cent cumulative preferred stock, 10,000 shares of 7 per cent to 10 per cent cumulative second pr ferred stock, and 10,000 shares (voting trust certi cates) of Manufacturers’ Finance Co., Baltimore. and 20,000 shares of 7 per cent to 10 per cent preferred bene- ficial interest shares of Manufa turers' Finance Trust, Chicago. shares, par value $25 each in all cases, are to be offered in blocks, $175 per block, yielding at prese dividend rates about 7.57 per cent, each block comprising two shares of per cent preferred stock of Ma facturers’ Finance Co., one share of T per cent to 10 per cent second pre- ferred stock of Manufacturers' Finance Co., two 7 per cent to 10 per cent preferred beneficial intevest shares of Manufacturers' Finance Trust. and one share of common stock of Manufacturers’ Finance Co. (voting trust certificate) The Manufacturers' Finance Co. with headquarters in Baltimore, has been in successful operation since its inception in 1910, and is one of the oldest so-called non-notification com- mercial banking companies in the United States. It owns all the com- mon beneficial interest shares of Ma ufacturers’ Finance Trust, organized in 1922 for the purpose of conducting a similar business in Illinois and sur- rounding territory, with headquarters About 80 per cent of th combined business consists of the purchase of open accounts and notes receivable from reliable manufac- turers, wholesalers and jobbers, and the balance of automobile and install- ment liens and mortgage notes. The percentage of loss since organization has averaged less than one-fifth of 1 per cent of the accounts purchased. . S CANNING OUTLOOK GOOD. Indications Point to Larger Acre- age This Summer. NEW YORK, February 10.—Thomas C. Cranwell, president of the Contin- ental Can Co., considers the canning outlook for 1925 favorable. Owing to the_shortage in some canning house crops in 1924, present indications, he said, pointed to a practical exhaus- tion of seasonable canned foods be- fore the new packing season of 19 opens, and it was reasonable to ex- pect preparations for increased acre- ago and production of canned foods AUTO SALES DECLINE. NEW YORK, February 10.—Sales of the Paige-Detroit Motor Car Co. in 1924 dechined to $39,951.131 from $46.- 296,000 the year before. Net profits of $1,949,664 before taxes were equal after preferred dividends to $2.97 a share on $6.000,000 common stock, against $3,180,971, or $7.49 a share on $4,000,000 stock in 1923. DURANT ON GAS BOARD, NEW YORK, February 10—W. C. Durant of New York has been elected a director of the Independent Oil & Gas Co. A special meeting of stock- holders will be held shortly to ap- prove a propused reduction in the no par value stock from 450,000 shares outstanding to 225,000 shares on the exchange basis of one share of new for two of old. | Motor-train _ service will be intro- duced on Dahish. state railway lines.