Evening Star Newspaper, February 13, 1925, Page 28

FINANCIAL 0L SHARES MAKE MODERATE GAINS Moves in Other Stocks Great- ly Mixed—St. Paul Issues - Especially Weak. BY STUART P, | Dispateh to The Star. NEW YORK, February 13 trom the fluctuations in a few vidual stocks of the type of U. Cast Iron Pipe, little progress either direction’ was made in stock market today. The oll shares were helped by the overnight announcement of fresh ad- ‘vances in crude oil quotations, but they made only moderate gains. The steels were under further pressure, d the decline in St. Paul preferred 10 its lowest of the year so far was a somewhat unsettling influence. Profit-taking sales made themselves felt in numerous specialties, while pools in other issues of this class were still active, bidding up their favorites. St. Paul Issues Heavily Sold. The weakness in the St. Paul issues, which started in the bonds and then spread to the stocks, did not bring out anything new even in the way of Sossip. The experts who are going over the St. Paul property to deter- mined what it is actually worth, have not yet made their report. Until they do the banker who would naturally handle any refunding, are not ex- pected to take action. Still the sell- ing of the stocks was very persist- ent and it comprised a lot of good sized lots. The response to the further ad- vance in crude oil quotations was less than has followed similar an- nouncements during the last month or so. General Petroleum was an ex- ception, rushing forward over 2 points.” Phillips Petroleum was up over a point at one time. Barnsdall “A,” Houston and Pacific Oil were all higher. Pool operations were again noted In Independent Oil and Gas, which has been a favorite ever since the election of W. C. Durant to the board of directors. United States Pipe Stories Hearsay. Most of the stories written about TUnited States Cast Iron Pipe are re- sarded as pure hearsay. Those who bave been bullish on the stock all along admit that the rise to 250 may have been excessive for the time be- ing at least, but they claim that with earnings estimated at $75 a share, the stock will eventually be proved worth that much, after a capital split up. Therefore, they discount heavily the rumors about a private settlement of shorts. Still these rumors were cur- rent again today when the stock dropped to 205—that is, down 45 points from its top. The continued advance in American Sumatra fitted in with the informa- tion already printed on more than one occasion—that the financial af- fairs of this company are in much better shape. Sugar Stocks Sold. Realizing sales were felt again in the sugar stocks, especially in Cuba Cane preferred. No attention was paid to new operations for the rise in General Motors. Bethlehem Steel was heavy again. Electric, which came with the news that the company was likely to be in- vestigated, appeared to be over. The assertion was made today that Cast Iron Pipe advanced on its own merits and ‘then reacted 45 points very naturally after an 87-point rise in the space of a few weeks. On Wednesday, when W. C. Durant was supposed to have made a private set- tlement with short sellers, he is said to have been on his way to Detroit, attending to the affairs of his own companies. Where Stock Is Now Held. There are 120,000 shares of Cast Iron Pipe common stock in existence, and Mr. Durant is said to hold from 40,000 to 60,000 shares at all times. Four Wall street houses hold an ad- ditional 40,000 shares. Hence, even though the stock is always freely loaned and therefore in supply, there must, it was pointed out, be a sensa- tional advance in it whenever fresh buying enters the market, as it did after the 1924 earnings of approxi- mately $43 a share were published. CLOSE IS IRREGULAR. WEST. in the, By the Associated Press. NEW YORK, February 13.—Violent 15 to 30 point fluctuations in half a dozen high-priced specialty issues featured today's irregular stock market. Olls made a favorable re- sponse to increased crude and gaso- line prices, but confused price move- ments characteriZed the fluctuations in other standard industrial and ral road shares. Total sales approxi- mated 1,150,000 shares. The closing was irregular. Radio and electrical shares were bid up in the late trading, but renewed heavi- ness cropped out in the independent steels. Markets at a Glance NEW YORK—Stock, American Can soars 5% points to 176%. Bonds, steady; Argentine issue oversubscribed. Forelgn exchange, easy; French francs break 10 points. Cotton, higher; firm spot markets. Sugar, featureless. Coffee, easy; Euro- pean selling. irregular; CHICAGO—Wheat, advanced; large export business. Corn, lower; slow cash demand. Cattle, irregular. Hogs, higher. ot e L FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. tod: ay. Lovdon, pound ... $4.77% Montreal, doliar . franc : Zurich, franc . ‘Athens, drachma . Madrid, peseta . Vienpa, crown Budapest, crow: Frague, crown Warsaw, zioty . Copenhagen, crown Christianie, crown Stockholm,” crown By the Associated P NEW YORK, February 13.—For- eign exchanges easy. Quotations (in TUnited States dollars): Great Brit- ain, demand, 4.77; cables, 4.77 60-day bills on banks, 4. France, demand, cables, .0525%; Italy, demand, .0411%; cables, .0412; Bel- gium, demand, .0503; cables, .0503% Germany, demand, .2380; Holland, de- mand, .4017; Norway, demand, .1525; Sweden, demand, .2693; Denmark, de- mand, .1780; Switzerland, demand, .1927; Spain, demand, .1421; Greece, demand, .0162; Poland, demand, .19%; Czechoslovakia, .0295; Jugoslavia, de- Austria, — demand, fa, demand, .0051%; Argentina, demand, .3950; Brazil, de- mand, .1140; Tokio, demand, .39%; Montreal, .99 29-32. FAIL TO CHANGE RATE. NEW YORK, February 13.—Di- rectors of the Southern Pacific Com- pany today falled to make any change in the $6 annual dividend rate on the capital stock, authorizing the regular quarterly payment of $1.50 a share. The financial district for sev- eral months had been expecting an increase in the rate. The selling in General | NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Because of the abnormal volume of trading om the New York Stock Exchange at preseat, it is impossible to get complete clowins quotations In time for the regular edition of The Star. Final and come Pplete quotations will be published in today’s 5:30 edition. Open. High. Low. . Hanna 18t (7 B 80 89 Csp Hartman ($2.50) 83 2 Hayes Wheel (3) 38 i Hayes W pf (7% 108% 103% Hel GeoH... 75 % Hoe & Co A (4) . - Homestake (17) “y Househ P (13%) 30% Houston Oil. ... 83 Hud Man pt (5. 664 Hudson Mot (3). 40% Hupp Mot (1)... Illinots Cant (7) Independ Oi1 (1) Indian Motoreye Indian Refining. Inland Stl (214). Inspiration Cop. Interb Rap Tr... Internat Agri. .. Int Com Eng (2) Inter Har pf (7) Int Mer Marin, Int Mer Mar pf.. Internat Nickel. Inter Nick pf (6) [nternat-Paper. Int Pap pi 1 & . High. Low. Close. o ‘oan 60% 63 99% 99% 904 96% 12 % 1% 87% Abitibl Pow (4). Adams Exp (8). Air Reduct (15). Ajax Rubb. Ajax rights Alaska Juneau.. Allled Chem (4). Allied Cm pt (7) Allis Chalm (4). Am Agricul Chm Am Bk N pf (3). Am Beet Sug (4) Am Bosch...... Am Brk Shoe (5) Am Can (18) Am Can pt (7) Am Car & F (12) 2 Am Chain A (2). Am Chicle. . Am Chicle ctfs. . Am Drug Snyd.. Am Express (6). Am & For Pow.. Am & Fr P pt(7) Am Hide & L pt. Am Ice (1) : Am Internatl... Am La France (1 Am Linseed pt. Am Locomo ($: Am Metal (3). Am Radfacor (4) Am Safety Raz.. Am Ship & Com. Am Sm & Ref (6) AmS & Rpf (7). Am Sugar. Am Sugar pi Am Sumatra. ... | Am Sumatra pt. Am T & Cab (5). AmT & Tel (3 Am Tobacco Am Tobac B (7). Am WW&EI 30c. Am W W pt (6). Am Woolen. ... Am Wool ptd (1) Anaconda (76c). Archer-Daniels. Armour Del (7). Arn Cons & Co. . As50 Dry G (5).. Asso OIl (1%), .. AtT&SFe (1. AT&SFpt (5). Atl Birm & At. .. Atl Coast L (18) AtGuif& WI... AtGulf & W Ipf Atlantic Reflinin Austin-Nichola. Auto Knitter. Auto Sales.. Baldwin L (7) Bal & Ohto (5).. Bal & Oh pt (). Bang & Ar (3).. Barnsdall A. Barnsdall B. Bayuk Cigar.... Beech-Nut (3).. Bethlehem Steel Beth St pf (7).. Beth Stl pf (8).. Briggs Mfg(3%) British Empire.. Bkl Edison (8).. Brk-Man Tran Brklyn Un G (4) Brunswick-Blke Burns Bro (10). Burns Br B (2). Burns Br pf (7). Bur Add Ma (3). | Butte Cop (50¢) Butte & Superior Butterick Co.... Cal Packing (6). Cal Pete (1%). . Calit Pet pf (7). Callahan Zinc... Calu & Ariz (2). Calumet & H (1) Can Pacific (10). Case Threshing. Cent Leather. . Cent Leather pf. Century Rib (2) Cero d Pasco (4) Certain-Teed. . . Certain-T 2nd (7) Chand Mot (3).. Ches & Ohio £4). opt (6% Chicago & Alton Chic & Alton pf. Chic & East Il Chic Gr West. Chic Gr West pf. Chi M1 &8t P.. Chi Mil & S P pf. Chi & Nwn (4).. Chi & Nw pf (7). Chi R1& Pac... CRI&P DL (6). CRI1&PDPL(T). Chile Cop (2% ). Cluett Peab (5). Cluet Pea pf (7) Coca-Cola (7). Colo Fuel & Irol Colo Southern. .. Col G & E (2.60). Col G & E pf (). Col Carbon (4).. Com Inv (2.50).. Com Solv g ). Com Solv B..... Congol-Nuirn (3 40% Consol Cigar.... 30 Con Cigar pf (7). 88 Con Distributrs. 7% 116% 8% 16% 9 47% Kansas & Guif.. n City South. Kelly-Sprgfield. Kennecott (3) Heystone T & R. Kresge S8(8).. 49; Lee Rub & Tire. Lehigh Val (3%) Liggitt & M (14). Lig & My B (14). Lig & Myrs rgts. Loews Ino (2) Long Bell A (1), Loose W 1st (7). Lorrillard (3)... Louisiana Oll. Ludlum (2). Mclntyre (1) Maci Trucks (6) 1. Macy HR & Co. ma Copper-. . Magma Cop rts. Mallizson & Co.. Man EtSup (4). Man El nd g (5) Manhat Shirt (3) Manila Electric. Maracalbo O, .. Marland Oil. . Martin-Parry 4. Mathieson Alka. Maxwell Mot A.. Maxwell Mot B .. May Dept 8t (5). Metro G pf (1.89) Mexican Seabd.... Miami Cop (2) Middle States. .. Midind Pr pf (3) Minn & St Louls Mis Kan & Tex. MK&Tpt(5).. Missouri Paclfic Missouri Pac pf. Montgom Ward. Moon Mot (3)... Mother Lode 780 Mullins Body... Munsingwr (3). Nash Mot (f11).. Nat Biscuit (14) Nat Cl & S pt (7) Nat Dairy (3).. Nat Dept Stores Nat Dp St 1st (7 Nat Distillers pt Nat Enamel &S 2% 2 Nat Sup pt (7).. Nevada Copper. . NOT&M 123%.. N Y Afr Br (4).. N Y Alr Br A (4) N Y Central (7). NYCStL(8)... N Y Dock... N Y Dock pf (5). NY NH & Hart. . N Y Shipbld (2). Norfolk South Norf & W (8. North Am (3.40) North Am pf (3) North Pac (6)... Cnyx Hoslery. Onyx Hos pf (7' Orpheum (1.80). Otis Elev (15%) Otis Elev pf (6). 101 Otis Steel. . 10% Otis Steel pf. Owens Bot (3} Pacific Gas (8) Pacific O1l (2). Packard ($1.50 1 Packard pf (7).. 107 Pan-Amer (4).. 764 Pan-Amer B (4) Panhandle pf. Park & Tilforad. Penna C & Cok Pennsy RR (3). Penn Seab Steel. 2% Peoples Gas (3). 119% Phila Co (4).... 85% Phila&RC&I. Phillips Jone: Phillips Pet (3). Phoenix Hoslery Plerce-Arrow.. Pierce-Arrow pf Plerce A prior Pierce Ol . Pierce Petrol Pitts Coal. . Pitts Stl pf (7) 60 160% 169 Cont Insur (6). Cont Mot (80c).. Corn Prod (2).. | Cosden Co...... | Crucible Sti (4). Cub Am Sug (3). Cuban Am pf (7) 100% Cuban Cane Sug 13% Cub Cane Supf. 60 Cuba Dominican Cuyamel Fr (4). Daniel Boone. Davison Chem. . Del & Hud (9).. Del L& W (6, DS RGWstpf.. Detroit Ed (8).. Dome Mines (2). Doug Pectin (1). Du Pont (8).... | DuPont deb (6 Dugquesna pf (7) Eastman (18) Eaton Axle. Elec St Bat (15). End-Jobn (5)... Endicott pf (7). 5% teel Car. B2% Press B Prod & Refiners. Pub Ser N J (6). Public Serv rts. .| Pub Serv rts (n) Pub S NJ pt (8). 112 Pullman Co (3). 142 Punta Al Su (5). 44 Pure Oil (1%). 82 Radio CorporA. 63 Radio-C pf (3%) RSIICects (4). Ray Cons Cop. Reading (4). Reading rts. Reading 1st (2). % | Read 2d pf (2).. Remington Type Replogle St Rep Ir & Steel. . Reynolds Sp (1) Rey Tob B (3)... Rossia Ins (6)... Roy Dutn 4.42% St Josepn 14 (2) St L & San F (6) StLSanF pt (8). St L Southwest. St L Swn pt (6). Savage Arms... 95 Schulte (8)..... 11s% Seaboard Alr L, 28% Seabd Alr L p! 42% Sears-Roebk (§) 162% Shell Unlon (1). 26% Shell Un pf (6).. 101 Simmon Co (2).. 87% Simms Pet (60c) Sinclair Ol Erle 18t pf. Erie 24 pt Fairbks (2.60) Famous Fed Lt & T (°7). 13 Fed Mines pt (7) 624 ¥id Phoentx (6) 164% Fifth Ave (84c) 13% Fisher Body (5). 66% i Rubber.... 12% Fish Rubber pf. 88% Fielschman (14) 82 Foundation (6). 109% Freoport-Texas. 10% Gardner Motor. Gen Asphalt. Gen Cigar (8). Gen Electric (8) Gen Kl 8pl (60c). 11% Gen Motors (6). 76% Gen Mot pf (7).. 108% Gen Petrol (3). 53% Gen Refr: Gimbel Br pf (7) 103% Ginter Co (1%). f?% 239 ) South Ry pf (5). tand Mill (5). . Std Gas & EL (2) St Ol Calif (2).. StOIINJ (1).. StOIINJ pf (7). Std Plate Glass. Sterling Prd §% Stew Warner (6 dy Gdyear prior (8) Granby Consol.. Gray & Davis. .. Grt North pf (5) Grt Nor Oro (4). 88% Grt Wstn Su (8) 94% Gt West Spf (7) 111 Gulf Mo & Nor.. 25% Gu Mo & Npf 63 94% Gulf 8t Steel (5) 91% 6915 8 Superlor Oil.... Superior 8tl (3). MARKED WEAKNESS| o= BONDS o) Received by Private Wire Direct to The Star Office. INST. PAUL BONDS Price Movements Elsewhere in List Irregular—Polish Loan Soon. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, February 13.—Weak- ness developing over the holiday in the St. Paul group was easily the feature of the bond market today. Ofl lens also stood out prominently. No new reason was advAnced for the gelling, and the only explanation was that the delay in announcing the terms of the refunding plan was bringing about liquidation. It Is now less than four months before some 347,000,000 of St. Paul bonds, secured by Agnior mortgage, will mature, and no dnnouncement has been made as to how this maturity will be met. Today's selling was manifest prin- cipally in the 4s, which mature June 1 next, and In the convertible 4%s of 1932 The last named have been relatively stronger than the other St. Paul bonds for some time, and so were more sensitive to the selling. General Lint Steady. Whatever the outcome of the St. Paul situation, it was pointed out to- day that the bonds are selling at prices which have discounted a good deal of the unfavorable condltions. The general railroad list was steady, but that was about all. New York, Chicago and St. Louls 5l were again in demand in the investment grade, and the Chicago and Eastern Ilinols 5s were firm among the more specu- lative bonds. but such typical recent favorites as St. Louls, San Francisco adjustments, Missouri, Kansas, Texas adjustments, I. G. N. adjutments, Chi- cago Great Western 4s and Denver and Rio Grande Western 5s were evidently resting. Sugar Bomds Strong. Among the tractions Brooklyn Man- hattan Transit 6s were lower, while Chicago Rallways Gs rallied. American Sugar 6s duplicated their high of the year, and the bonds of the sugar-producing companies held around their recent high points. Dealings in the convertible oil issues were ex- tremely heavy, with Skelly Oil 6%s the lpaders, up at one ‘time 2% points. Neither in the high-grade domestic bonds, such as Liberties and first mortgage rails, nor in foreign is- sues was there any important change. Poli Loan Soon. The New Polish loan is scheduled for public offering early next week. It is understood that unusual pre- cautions will be taken to safeguard the Interest of the bondholders in the case of this loan. The American Gas and Electric Co., it is expected, will also offer a new block of 6 per cent debentures shortly. PRICE OF STOCK FIXED. Further Plans Made for Bid Radio Merger. Special Dispatch to The Star. NEW YORK, February 13.—It was officially announced today that the Federated Radio Corporation has been organized for the purpose of ac- quiring a controlling interest in the Rova Radio Corporation, Equitable Radio Corporation, Voluma Products, Inc.; Radcab Company \of America and Eureka Battery Conlpany. Pub- lic offering of stock representing the new corporation will be made within the next few weeks, at a price under- stood to be $21 a share. GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) ” Rid. A Ger Gt (war loan) Hamburg 4138 1919. s Ger Gt 4-5x (forced loan) . Ger ¢ ( Ger Gen Elec 4, Ger Gen Elec 434 29% | wickwire Sp rts. e Berlin 48 pre-war...... Hambg 35, 8148 & 4s pre-war Hamburg Amer Line 4135..... North German Lioyd 4! North German Lloyd. Munich 43 pre-wa Badische Anilin. . t Ba Disconto Gellschaft .. Dresdner Bank 1: ~ ) 30. x. 15 2% 22% 14% 4% 14% 224 224 148 % 48% 103% 53 21% 148 3! Telautograph. . Tennessee Coppe 9% 9'4 Texas Co (3)... 484 48% Tex G Sul (17%) 104 104 Tex & Pacific... 51% 53% Tex & PacC &0 224 Tide Wat Ofl (4) 14845 Timken (13%).. 44% ‘Tobac Prod (8). Tobac Prod A (7 Transcont Ofl... ‘Twin City (4). Underwood (3). Un Bag & Paper Union Ol (1.80). Un Pacific (10). Un Pac pf (4) Utd Ry Inves pf. U 8 Cast Iron P. U S Distributing U 8 Hoft (500).. U 8 Ind Alcobol. U 8 Realty (8) U U k{ 5% 64 89% 424 4z 150% 76 25 8344 127% 8 Rubber. 4 S Rub 1st (8). U 8 Steel (17)... 1. U 8 Steel pf (7) Universal Pipe.. Univer P pf47). Utah Securities. Vanadium... Va-Caro Chem Va-Caro Ch pf.. Va Ry & Power. Vivadou. .~ Wabash. ‘Wabash p! Waldort (1% Ward Baking ‘Ward Baking B. ‘Ward Baking pf ‘Webber (1) West Pen (4). Tont M 2apt.. West .. Western Pacific. 35% West Paopt (8). 91% ‘West Union (7). 119% 126% 2318 123 12 765 10% 80% 66% 1 9% % 28 10% 6% 116% T T4% T4% 18% 49% White Mot (4). . ‘Wickwire pt rts. Wilson & CO. .. ‘Wilson & Co pf. Willys-Overlan¢ Wills-Over pf... 764 Woolworth /30, 116% ‘Worthington... 75% Worthington B ¢ 74% Wright Aero (1) 18% Wrigley (*3%). 50 Yellow Cab. 37% 37% 874 Youngstn S&T. 75% 76k 76% Partly extra. 3] able in z:‘hn‘l m;ll‘d’ rates as P?!!l 1n sbove 'fil‘:& Sre the anoual cash payments based on the Iatest quarterly or half-yearly declara Dnless o ise noted, extra eor Gividends are not T4% 18% 50 UNITED STATES BONDS. (Bales are in $1,000.) 1 Low. 73 101 23 101 20 10120 4 10129 101 26 10129 209 1014 1011 1014 89 101 16 10113 10115 54 101 30 101 28 1C1 80 39 100 30 100 27 100 27 7 105 104 27 105 FOREIGN. Bales. High. A....100 96% B. 56 96% 102% 95Y% 9% Lib3ys.... Lib1st 6% Lib2d 43 Lib3d 4% Lib4 4%s UB4s1944. US4%s’sz. Argentine 65 Argentine Argentine 78 Austria 7 B Bank of Japan 6 Belgium €5 w! Belgium 7%s. Belgium 8s... Cunada 6s 1926. . Canada b 1931. Canada 5s 1952. y aniass..... Copenhagen 5%3.. 15 Cuba 5% 1 Caecho 88 1951. ... Czecho 8s 1952 ct.. Denmark 6 Denmark 8, . DEI5%s Mch '53. DEI5%s Nov '53. Dutch East I 6s ElSalvador 8s 48. . Finland s f 65 1945 Framerican 7% French 7s w | French Govt 7%s. French Govet Germany 7s w Ger Gen Elec 7 Greek 7a w i Halt! 6s. Holland-Amer 6s. Hungary 6%, Japanese 6% Jergens UM Lyons 68 Marsellle Mexico 5s. 4. 72. Norway 6s 1943. .. Norway 6s 1944. Norway 6s 1952, Paris Orleans Prague 7% Queensland Queensland Rio de Jan Rio de Jan Se 1947. Sao Paulo City 8s. 8ao Paulo State 83 Setne Dept of 7s. .. Serbs Cr'tes Slo 8s. Soizzons €s. . . Sweden 538 vi. Sweden 6s. . Ud Kingin §%s Ud Kingm §%s°57. 11 106% Ud Steam Copen 68 3 S4%4 8 108 .11 MISCELLANEOUS. Ajax Rubber3s... 6 { Am Agr Chem T%s 39 AmChain s 6s'33 18 Am T& Tcl tr bs. . Am. T. & T. SF bs. Am T & T deb 6%s Am Water Wks 58 Am Writ Paper 6s. Anaconda 1st és. Anaconda cv db Armour & Co 4%s. | Armour of Del 5% 22 Associated Oil 6s.. Atlantic Refin 5. Beth Steel 5% Beth Steel s £ 6s. .. Brier H St 1st §%3 Bklyn Ed gen bs Bklyn Union G 5: Bush T Bldg 53 '60. Calif Pete 6%s.... Central Leather 58 Chile Copper 61 CInG E5%s'62. Con Coal Md 1st ConGNY5lsw Cuba Cane cv 7t ‘3¢ 14 Cuba Canecvd8s. 12 Cuban-Am Sug 8s. Denver Gas 5s. ... Dery (DG) Ti . Det Edlson 58 '40.. Du Pont de N 7%s. Dugquesne Light és Est Cuba Sug 7%s Empire GEF 1% Feder Metls 7s Fisk Rubber Francis Sug Gen Elec deb bs... Goodrich 6%48. ... Goodyear 8s 1931.. 38 Goodyear 8s 1941.. 34 Hershey 6s 1943 2 Humble O&R 5 %! Illinols Bell 1st Illinols Steel 4%s. Indiana Steel 58 Int Mer Marine 6s. Inter Paper bs '47. Liggett & Myrs bs. Liggett & Myrs 78 Lorillard (P) bs New Eng Tel 5s... N Y Eden 1st 6%s. North Am Nor States Pow bs. Nor States Pow 6s. Otis Steel 7%8. South Bell Tel So Por RicoSug 78 4 Southwest Bell bs. 42 Sug Est Orlent7s. 2 Tenn Elec Pow Tide Wat Oll 6%s. Toledo Edn 1st 7s. United Drug 6s. USRub lstrf bs.. U S Rubber 7%s. U 8 Smelter 6s.... USSteelsfbs.... Utah Pow & Lit Gs. Va-Car Chem 7s.., CarCh 7%ssw 8 Vertientes Sug 7s. 1 Warner Sug 72 °39. Warner Sug West Elec §s 54 99 99 99 West'n Union 6%s 3 111% 111 111 Sales. High. Low. Close. Westinghouse 7s.. 2 107" 107% 107% Wickwire Sp 11 Willys-Ov 6 Wilson & Co Wi Wilson&C cv 7% Winchester A 7 5 102 Youngsin S&T 6s. 38 99 Ou' 98% RAILROADS, Ann Arbdor 4s Atchison adj 4 Atchison Gen 4s... 1 Atlan CL 4%s64. . Atlantic C. L. 7s. 65 65 82% 82% 89% 89% 91% 91% 107% 107% Bklyn-Manhat 6; Buff R & Pitt 4%s. Canada Pac deb 4s Canad North 8% Canada North 7s.. Car Clinch & O 6s. Central Pacific Chi & Alton 3%s.. Chi & Alt 3% ctfs Chi B&Q gn 45 '58. Chi B&Q 1st rt b CB&Q-11l div 4; Chi&E1gn6s.... Chi Great West 4a. Cni M&St P cv 4% CM&StPgn 4% Chi & N W ref bs. . [e]e] BE » z 4 - [ Del & Hudson 6%s Den & Rio G cn 4s. Erie conv Erle conv 4s B Erfeconv4sD.... Erie Genessee R 6s Erle & Jergey 6s. . Erle (Pa)clt tr4s. Gr Trunk sf db 6 Great North 5s Gr North gen 7s... Green B& W db B. Havana ERL&P bs Hud & Man ref Gs 111 C-C St L&NO bs Int Rap Tran 2 Int Rap Tr 5s stpd. (nt Rap Tran 7s. .. Int & G Nor 1st 6s. Int & G Nor aj 6s.. Towa Cent rf 4 Kan City Ft S 4s.. Kansas City S3s.. Kansas City 8 Lake Shore 48 Louls&Nis B Louis & Nash 7. Manhat Ry cn NYCentcn s N Y Cent ri bi N Y Cent deb 6s. . N Y Cen LS cl 3%s. NY Chi & St L 5%s 53 NYC&StL6sA.. : New Hav d 48 '67.. 1 New Haved New Haven 7 30 New Haven 7s fr..118 NY Ry rf 4sctfs... 25 NY Rysadjbsct.. 12 N Y W & Bos 4%s. Norfolk & W cn 48 Northern Pac 33... Northern Pac Northern Pao 6s D 100% 115% 116% i i6m % 951 95% 4 103% 103% + 57K 674 896 89k 99% 99% 99 99 54 5% 614 89% .2 84% 97w 108 108 101% 101% 101% 82% 82% 99 99 98% 3% 103% 108% 98Y% 984 Northern Pacri6s Ore & Calif 1st b Ore-Wash lst rf 4s LT TCTRPY & ® FINANCIAL. Flour Prices Drop Over $1 Per Barrel From Recent High By the Associated Press. MINNEAPOLIS, February 13.— Flour prices have dropped more than a dollar a barrel from the recent high record of two weeks ago, mills today quoting the best grade at $9.50a9.55 a barrel in car lots. The recent top, on January 24, was 10.60a10.75. Quotations on flour, millers ex- plained, are not based on wheat futures, but on cash wheat. VALUES INWHEAT ADVANCE SHARPLY Agriculture Department Re- port Helps Prices—Heavy Profit Taking. By the Associated Press. CHICAGO, February 13.—With an- nouncement of export business amounting to 1,500,000 bushels and with the Liverpooh market advancing instead of reflecting recent depres- sion of values on this side of the Atlantic, the wheat market here made a vertical rise of 7 cents a bushel today almost as soon as trad- ing began. Word that the United States Department of Agriculture was authority for a statement that world wheat supplies would be very low at the end of the crop year counted also as a decided stimulating factor. Big selling to realize profits developed on the bulge in prices, however, and top quotations falled to hold. The opening, which ranged from 3% cents to 7 cents higher, with May 1.82 to 1.84% and July 156% to 157, was followed by a reaction in which May descended to 1.80%. General liquidation on the part of holders of corn and oats quickly set in when prices went up at the outset in sympathy with wheat. The liquidation dislodged many orders to stop losses and as a result the declines were greatly accelerated. After open- ing at 14 to 1% higher, May 1.28% to 1.29%, the corn market fell to 1.24%, May. Oats started at 1; to 2% advance, May, 55 to 56. Later, May dropped to 51%. Despite higher quotations on hogs, provisions underwent a sharp tumble owing to the break in prices of feed. Close. September OATS. o i September .01 COTTON QUOTATIONS ARE HIGHER TODAY Holiday Strength in Liverpool and New Orleans Helps Mar- ket Rise. By the Associated Press. NEW YORK, February 13.—The cotton market was firm at the open- ing today, with prices 14 to 26 points higher. Trading was more active than it has been. for weeks. Strength in New Orleans and Liver- pool over the holiday, combined with bullish reports from Southern spot markets and continued absence of rain in the Southwest, appeared re- sponsible for the more general buy- ing. May sold up to 24.90 and July 2517 in the early trading, making new high ground for the movement, or net advances of about 20 to 26 points. There was a good deal of realizing and considerable March liquidation, but the latter was ab- sorbed by trade interests against sales of later deliverles at a slight widening of the differences be- tween months. Liverpool reported Manchester and continental buying on the advance in that market, New Orleans NEW ORLEANS, February 13.— ‘The cotton market opened easier, as Liverpool cables were hardly as good as due. As New York opened better than expected, the market here ral- lied and the early loss was recovered, while May advanced to 24.88 and Oc- tober to 24.77. The weather map was rainless, but a barometric depression west of Texas led some map readers to expect rains. Fall River reported sales for the week of 75,000 pieces of print cloths. GRAIN AND PROVISIONS. BALTIMORE, Md., February (Special).—Potatoes, per 100 1bs. al.65. Sweet potatoes, bbl, 2.50a5.50. Yams, bbl, 3.00a4.00. Beans, hamper, Quotations. Rio G West 1st 4s. RIArk & L4%s.. St L1M&S R&G 4. StL&SFplisA.. StL &S F pr In bs. StL&SFb%s StL&SFad StL&SFinc StLSWlstés.... St LS W con 43°33 St P & KCShL 4%8 Sou Paclfic 43 Sou Pacific ctl 4s.. Sou Pacific fef 4 Southern Ry gn Southern Ry 1st Southern Ry 6s ct. Southern Ry 6%s. Term Asso St L 4s Third Averef 4s.. Third Ave adj 5s. Union Pac 1st Union Pac 1st rf 48 Union Pac 48 '37... Western Md e Western Pacific s West Shore 1st 4s. Whel & LErf 4%s WEEKLY COTTON REPORT. LIVERPOOL, February 13.—Weekly cotton statistics: Total forwarded to mills, 75,000 bales, of which 56,000 were American; stock, 901,001 ican, 734,000 lcan, 99,000; exports, 3,000; no Amer- ican. —_— NEW PRICE LIST MADE. FINDLAY, Ohio, February 13.—The | 3.50a4.50. Amer-'| 2.5024.00. Beets, 100, 8.00210.00. Broc- coli and Kale, bu, 50260. Brussels sprouts, qt., 20430. Cabbage, ton, 25.00a28.00. Savoy, bu., 65a90. Car- rots, 100, 7.00a8.00. Cauliflower, crate, 2.25a2.75. Celery, crate, 2.50a3.50. Cu- cumbers, hamper, 4.00a7.00. Egg: plants, 3.00a6.00. Lettuce, basket, 1.7 Onfons, 100 Ibs, 2.75a3. er plants, 8.00210.00. Par- snips, basket, Peas, hamper, Peppers, crate, 2.50a5.50. Spinach, bu., 1.00a1.50. Squash, 3.50a 4,00. Tomatoes, crate, 2.00a4.50. Tur- nips, basket, 50a85. Apples—Packed barrel, 3.50a7.50; bu., 1.00a2.25. Grapefruit, box, 2.00a 3.00. Oranges, box, 2.75a4.50. Straw- berries, qt., 35a50. Selling Prices at Noon. Wheat—No. 2 red Winter, spot, ex- port, no quotations; No. 2 red Winter, spot, domestic, 1.91% nomlaal; No. 2 red Winter, garlicky, domestic, 1.91% nominal; No. 3 red Winter, no quota- tions. Sales—Bag lot of nearby, at 1.90. Corn—Cob, new, yellow, spot, 6.50a 6.75 per barrel; track corn, yellow, No. 2, 1.42. Sales—None. Oats—No. 2, 66; No. 3, 65. Rye—Nearby, ,1.40a1.50; spot, 1.56%. Hay—Receipts, 80 tons. Receipts of €00d hay of both timothy and light clover mixed are Hght, and prices are well sustained under a fairly good demand. Low-grade, Inferior and damaged hay has no settled market value and is dull. Quotations today—No. 2 timothy, 20.50a21.50; No. 3 timothy, 17.00a19.00} No. 1 light clover, mixed, 19.50a20.00; No. 2 clover, mixed, 17.00218.00. 0. 2 rye, Straw—DNo. 1 wheat, 16.00217.00 per | Lehlgh Eo ton; No. 1 oat, 16.0 FEWER BAD STOCKS OFFERED TO PUBLIC Better Business Bureau Finds Fraud Curbed—Rec- ord Exchange Session. BY CHAS. P. SHAEFFER. The Washington {nvesting publi no longer is being harassed by fraud- -- ulent schemes of promotions of major proportions, Howard M. Cooi, director of the Better Business Bu- reau, reported this morning. This statement, it was explaine was not to be construed toenean that no questionable gtock and bond dea ing is under way in the District There is a scattering of undesirablc clement operating here who have as their working point the switching of disgruntled holders’ accounts from a security that has a future to sor thing that has only a mythical val For instance, shareholders in a relatively new concern which has not operated a sufficient length of time to earn a divident are advised to transfer their holdings (usually together with a sum of money) to an unheard-of which later evolves into a and simple fraud. In this i the promoter gains the benefit what little market the one securit has, which the investor is left with stock or bond of no marketabil whatever. Even these cases ara less frequent being reported to the bureau, M Cool said, and every indication point to a general feeling of discouraz:- ment on the part of fraudulent pro- moters here, who have long looked upon Washington as one of the most fertile fields to carry on their ope ations. There are still deluges letters in the daily mails from stors offering investment and specu lative informatlon, but, due to th. strenuous educational campaign th has been carried on, the bulk of t matter falls on barren soil. Re-Eleceed Steamboat Head. Levi Woodbury, “the grand man” of Washington business « cles, was vesterday re-elected pre dent of the Norfolk & Washin Steamboat Co. for the ensuing vea Clarence F. Norment was rename first vice president and Danlel J. Ca lahan second vice president and g eral manager. Odell S. Smith was r named secretary and treasurer. Mr. Woodbury was born in Sale N. H, in 1834, later migrating Washington, where he was at « time_steward and later lessec St. James Hotel. He was asso i in the organization of the Norfoil and Washington Steamboat Compan and has been its president for man} years. The following directors were re- elected for the year: Milton E. Ail: Charles J. Bell, D. J. Callahan, G. \t Forsberg, Clarence F. Norment, Clar ence F. Norment, jr.; Willlam E. Pea son, B. Francis Saul, Odell S. Sm and Levi Woodbury. Local Trading Hea The heaviest session of the year wa recorded on the® Washington Exchange this morning, with Wasl ington Railway and Electric pre ferred and National Mortgage and Investment preferred marked leaders The former sold to the extent 263 shares, recording a net advanc of 1% points on the day to a ne high at 81%. This issue was mark | ex dividend, as was also the common which was inactive, with par and none offered. National Mor failed to advance, although chan hands at 9% to the extent of shares. Capital Traction was traded mainly in small lots, at 92. Merges thaler was comparatively active and Lanston w firm at 78 asier at 58%, A n Security « “bid 30 shares of Trust Co. brought 320. Bonds were quiet and unchanged Banker Lenves South. George O. Walson, president of t Liberty National Bank, who, w Mrs. Walson, has been wintering Florida. will return to Washing tomorrow and take up his duties Monday. ———— B. & 0. SEEKS RIGHT TO ISSUE NEW BONDS As a step in the purchase of $11, 000 worth of new equipment, the souri Pacific Raflroad asked Interst: Commerce Commission approval day for an issue of $5.820,000 equipment trust certificates. The Baltimore and Ohio sought thorization for an issue of $10,360. in refunding mortgage bon use as collateral for short-term note borrowings. NEW YORK EGG PRICES. NEW YORK, February 13.—Eggs. Unsettled: receipts, 23.814 = Fresh gathered extra firs do. firsts, 44a45; do. secon 3 H Pacific coast whites extras, 47a48: do. firsts to extra firsts, 44a46%; refrig- erator seconds, 39a4l. Cheesé — Firm; receipts, pounds. 206,904 NET PROFITS DECLINE. NEW YORK, February 13. profits of the Republic Iron and Co. for 1924 declined to_$1,917,935, equal, after the regular 7 per cent dividends on the preferred, to cents a share on the common st This compares with $6,252,218 in 1 . After charging out 8 per cent in divi- dends, including 1 per cent on ac count of arrears, there was a deficit of $52,064. BUTTER HIGHER T—ODAY. CHICAGO, February 13.—Butter- Higher; creamery, extras, 40; stand ards, 40; extra firsts, 38a39; firsts, 36 a37; seconds, 32a34%. Eggs—Lower; receipts, 11,019 cases firsts, 41ad41%; ordinary firsts, 3s: - SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) aNoon d 's 1933, 10734 1073 127 Aluminum Co. of Amer. American Sugar Tel. 6o 192 Central of Georgia 6s 1929 r 55, April 15, 1925. e Chi.; B. 1. City of Lyons 6s 1934 Columbla & EL 1 Goodyear T. & Great Northern 1 927, %48 1981, 0 straight rye, 18.00219.00. “TREASURY CERTIFICATES. 4 ©Ohio Oil Co. today announced an in- |4 crease in the rrice of six grades of Central West crude oil. New prices are: Lima, $2.33; Indiana, $2.13; 11 linois, $2.12; Princeton, $2.12; Ply- mouth, $1.65, all up 35 cents a barrel, and Wooster, $2.25, up 30 oents. 100 17-32 100 19-82 90 15-16 100 132 101 101 7-32 5, o 101 2932 102 4 e 101 29-32 102 Oregon Short Line 4s 1929 Penns. R. R. 7s 1830.. Pure Oll 5%s, August, 1925 115 107% 10810 Corp. '8s 1927 called for pay- 1025, 'at 1013 ey Fisher Body Corp 6e 1 ment Feb. 1. 1925, at 102. called for pay- The flour mills of Minneapolis and St Paul have a total producing ca- pacity of 90,000 barrels a day.