Evening Star Newspaper, February 17, 1925, Page 22

22222 SEVEREBREAKS N STOCK MARKET Many Leading Issues Under Hezavy Selling in Late Afternoon Trading. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, February 17.—Today's stock market was very unsettled, fol- lowing the severe break of the preced- ing day, which carried prices down from an average of 2 points to over 10 in several instances. Farly in the session prices were inclined to steady and covering purchases had the ef- fect of rallying some stocks. Active Issues Tumble. There were stories of support being accorded such leaders as United States Steel common, but it was no- ticeable that many of these active issues foll back sufficlently to more than cancel the recovery from Mon- day's lows Further increases in crude oll quotations falled to help th ofl shares. The skyrocketing of specu- lative stocks In the recent trading had evidently caused a closer scrut- iny of loans by banking interests. The unloading of weak speculative holdings and the haste with which traders were taking profits where there were any influenced the selling. Crucible Steel and Bethlehem made new lo There was a battle royal in United States Steel common around 12212, American Smelting around 98 Was off 113 points, but subsequently rallied. Quotations for the copper metal were reported a fraction off from the recent selling level, and this probably Influenced sentiment. Covering in Oil Shares. The advance in petroleum prices in the midcontinent fleld brought about some covering In oil shares which had been particularly weak on the previous day. But the movement was very much mixed. Texas Company dropped below 47, where it was under FINANCIAL, NEW YORK Adams Exp (6). Alr Reduct (15). AJax Rubbe: Ajax rights. Alaska Jui Allied Chiem (4). Allls Chalm (4). 72% Allis Chim pt (1) 105 Am Agricul Chm 18% Am Ag Chm pt. . Am Beet Sug (4) 40 Am Bosch....., 37 Am Can (18). 168% AmCar & F (12) 198 Am Chain A (2). 25 Am Chicle 42% Am Chie Am Drux Snyd.. 64 F P28 (7 120 Am & For Pow.. Am & Fr P pi(T) Am Hide & Lea. Am Hide & L pt. Amice (7)... Am Ice pf (6)... Am Internatl. .. Am La France (0 Am Linseed..... 26 Am Linseed pf.. 61% . 119 ). 116 Am Radlacor (4) 99% Am Safety Raz.. 38 Am Ship & Com. 11% Am Sm & Ret (6) 99% Am Snuff (12)... 145% Am Stl Fdys (3). 47% Am Sugar...... 61K Am Sugar pt (1) 99% Am Sumatra.... 17% Am T & Tel (9). Am Tobacco (7). 85% Am Tobac B (7). Am Tobac pf (6) 106 Am WW&EI 30c. Am Woolen 50% Am Zinc.. . 19 Am Zinc pt..... Anaconda (78¢c). Ann Arbor. Ann Arbor pf... Archer-Daniels. Armour Del (7). 94 ArnCons &Co.. 9% 2% 22 32 Monday's low. The new interests in Independent Oil and Gas appeared to be offering some support between 25 and 26. The trading in Pan-Ameri- can B around 70, the closing figure of the previous day, was very heavy. During most of the time the changes in the olls were limited to fractions both ways. At 12613 Baldwin Locomotive was oft over 11 points from its high of 1925. On the whole, however, the Street had pretty well anticipated the 1924 report, which showed only $1,- 320,000 earned against $6,500,000 the year before. American Smelting Breaks. American Smelting broke badly on word from San Francisco that the United States Circuit Court had found against _the company along With Phelps Dodge in the case involving the patent of a smelter feeding de- vice invented 19 years ago. This de- cision involves damages and royalties said to amount to $20,000,000. There is @ similar suit against the Anaconda Company. MARKET CLOSES FIRM. Bullish Demonstration in Baldwin in Last Hour. By the Associated Press, NEW YORK, February 17.—Renew- al of selling pressure in today's stock market brought about a further reaction, which was accelerated by a sharp 7-point drop in American Smelting and Refining, based on an unfavorable court decision in Cali- fornia. Substantial recoveries took place In the late trading, but strong buying support appeared in the pivotal industrial stocks. Sales ap- proximated 2,000,000 shares. The closing was firm. A bullish dem- onstration in Baldwin, which carried that stock up 5 points, and rallles of 3 to 4 points in American Can, Max- Well Motors B and Radlo Corporation Dbrought about a general recovery in the late trading. Markets at a Glance irregular; NEW YORK.—Stocks American Smelting breaks 7 points; rallies 4. Bonds unsettled; French bonds recover. Foreign exchanges mixed; sterling lower; French francs improve. Cotton higher; firm spot markets. Sugar featureless. Coffee easy; foreign selling. CHICAGO.—Wheat firm; decreas- ing stocks. Corn steady; commission house support. Cattle irregular. Hogs steady to strong. GRAIN AND PROVISIONS. BALTIMORE, F¥bruary 17 (Special). —Potatocs, per 100 pounds, 1.25a1.65: sweet potatoes, barrel, 2.5025.50: yams, barrel, 3.00a4.00; beans, hamper, 2.00a4.50; beets, 100 pounds, 6.00a8.00; broccoll and kale, bushel, 50a60; brus. sels sprouts, quart, 10a2! cab- bage, ton, 22.00a25.00; savoy, bushel, 76al. , 100, 5.00a7.00; cauli- flower, crate, 2.25a3.00; celery, crate, 2.50a3.50; eggplants, crate, 3.50a5.50; lettuce, basket, 2.25a3.00; onions, 100 pounds, 3.00a3.25; oyster plants, 100, 8.00a10.00; parsnips, basket, 50a50; peas, hamper, 4.00a5.50; peppers, crate, 2.50a4.50; spinach, bushel, 1.00a1.50; squash, crate, 3.00a4.00; tomatoes, crate, 2.00a5.50 turnips, basket, 50a75. Apples, packed, barrel, 3.50a7.50; bushel, 1.00a2.25; grapefrult, Box, 2.25 23.00; oranges, box, 3.00a4.50; straw- berries, quart, 40a55. Selling Prices at Noon. ‘Wheat—No. 2 red Winter, spot, ex- port, no quotations; No. 2 red Winter, spot, domestic, 1.90 nominal red Winter, garlicky, domestic, nominal; No. 3 red Winter, no quota- tions. Sales—None. Corn—Cob, new, yellow, spot, 6.50a 615 per barrel; track corn, yellow, Sales—None. Oats—No. 2, 63, No. 3, 61%aé2. Rye—Nearby, 1.40a1.50; No. 2 rye, spot, 1.61%. Hay—Recelpts, 73 tons. Receipts of good hay of both timothy and light clover mixed are light, and prices are well sustained under a fairly good demand. Low grade, in- ferior and damaged hay has no set- tled market value and is dull, Quotations today— No. 2 timothy, 20.60221.50; No. 3 timothy, 17.00219.00; No. 1 light clover, mixed, 19.560220.00; No. 2 clover, mixed, 7.00a18.00. Straw—No. 1 wheat, 16.00a17.00 per ton; No. 1 oat, 16.00a17.00; No. 1 straight rye, 18.00a19.00. NEW YORK EGG PRICES. NEW YORK, February 17.—Eggs, unsettled; receipts, 32,372 cases; fresh gathered extra firsts, firsts, 43a44; do., seconds, 42a4, 47%ad8; nearby and nearby ‘Western hennery whites, firats to average extras, 44a47; nearby hen- mety browns, extras, 47ai8; Pacific coast whites, extras, 46%ad7; do., Arsts to extra firsts, 44a46. NOTE RIGHTS GRANTED. The Florida East Coast Rallway Company today received authority from the Interstate Commerce Com-. mission to issue $1,200,000 of Florida East Coast Equipment Trust Certifi- | cates, the proceeds to be used in purchasing equipment. Asso Dry G (5).. 169 Ass0 D G 1st (6) Asso Oll (1%) AtT&SFe (T AT&SFpt (5). At1 Blrm & At... 3% Atl Coast L (19). 149% AtGuif & WI... 25% AtGulf & WIpf 38% Atlantic Refiinin 110 Atlas Tack..... Austin-Nichola. Auto Knitter. Auto Sales...... 264 3% 4% Open. High. % T4% 105 19% 40 39 172 199 25 43 6% 120 30 120 116 100% 38 11% 100 146 AT% 184 87 106 b2% 43 22 32 95 150 26% 40 110 9% 26% 3% o -TOCK Lew. Close. 9 5% MK 11% % 1% 83% 2% 105 18% 50% 52% 49% 39% 36% 166% Am Canpf (7).. 118% 118%-118% 193% 24% 2% .. 39% 39% 39 84 Am 2“"" €6) . 151% 161% 146% Am 120 29 0% 117% 123% 123% 123% 49% 49% 49 115 98% 37% 11% 92% 145% 4% [ 17 133% 133% 138 85 84% 86k B84% 106 34% 354w 34% 50% Am Wool ptd (1) 88% !;% 3:% 31% 31% 81% 41 22 421 42% 42% 3% 93% 148% 25 38% 107% 9% 2% 3% 4% Baldwin L (7).. 127% 131% 126% 1% Bal & Ohto (6).. 76 Bal & Oh pt (4). Bang & Ar (3) Bayuk Cigar.... Beech-Nut (37.. Bethlehem Steel Beth Stl pf (7). Beth 8t1pt (8). . Booth Fisheries. Briggs M{&(3%) British Emplre. . British Emp 2d.. 5! 86% 3% 10 36% 3% 10 76 Bkl Edison (8).. 126% 1264 125% Brk-Man Tran 40% Bklyn Man pf (8 79% 8rklyn Un G (4) 76% Brown Shoe (4). 70 Brown Sh pt (7). 99% Brunswick-Blke 41% Brunswick Term 3 Buff & Sus (19%. 90 Burns Bro (10). 95% Burns Br B (2).. 20% Bur Add Ma (3). 77 Butte Cop (50c). T% Butte & Superior 19% Butterick Co.... 21 Caddoe Central Cal Packing (6). Cal Pete (1%) Callahan Zinc... Calu & Aris (2). Calumet & H (1) Can Pacific (10). Case Threshi Case Thresh pf.. Cent Leather... Cent Leather pf. Cero d Pasco (§) Certain-Teed. .. Chand Mot (3) Ches & Ohlo 44). Chicago & Alton Chic & Alton pf. Chic & East Ill.. Chic Gr West... Chic Gr West pf. ChiMil &StP,. Chi Mil & S P pf. Chi & Nwa (4) Chi & Nw pt (7' Chi PneuT (5).. Chi R1& Pac. CRI&PDI(6). Chi Yellow C (4) Chile Cop (2%). Chino Copper. Cluett Peab (5). Cluet Pea pf (7) Coca-Cola (7)... Colo Fuel & Iron Colo Southern. ColG&E ColG & E pf (7 Com Inv (2.50) Com Solv A (4).. Com Solv B..... Congol-Natra (3 Consol Cigar.... Con Distributrs. Consol Gas (5).. Consol Textlle. Cont Can (4) Cont Insur (6 Cont Mot (80¢).. Corn Prod (2).. Corn Prod pt (7) 121 Cosden Co...... 30 Crex Carpet (2).. 43 Crucible 8tl (3). Crucible pt (7).. Cub Am Sug (3). Cuban Cane Sug Cub Cane Su pf. Cuba Dominican Cuban Dom pf Cushmans (3)... Cuyamel Fr (). Dantel Boon Davison Chem.. De Beers (88¢).. Deere pf (3) Del & Hud (9) DelL & W-(6) D & R G Wat bf Detroit Ed (8) Dome Mines (2). Doug Péctin (1). Dupont (10) 1 DuPont deb (6). Eastman (16%). Elec 8t Bat (15) 1% 102 26 51 16 Erle 2d pf. Pairbks (2.60) Fam 8 90% T 103 Fe ). 132 Federal Mines.. 21% Fed Mineapt (7) 61 41% 9% 76% 39% 35 92 108% 133 % 61 40% 5% 130 21% F1d Phoenix (6) 1544 154% 154 Fisher Body (5). 60K 624 60k 62 ¥isk Rubber.... 11% Fish Rubberpf. 81 Fleischman (14) 81 Foundation (6). 103 Freeport-Texas. 9 Gardner Motor.. Gen ATC.:::("- :2 n Asphalt.. gn Asph pf (5). 93% Gen Cigar (§)... 94% Gen Electric (8) 230% Gen El apl (80¢). Gen Motors (| 10% Gen Petrol (1) Gimbel Broa. . Gimbel Br pt (7) 1 Ginter Co (1%). Glidden Co. Goodrich. 12 81 81 11 8 1% 80% 9% 9% o8 39% 38% 12 \ THE EVENING STAR, WASHINGTON, D../C., TUESDAY, FEBRUARY 17, 19%5. STRENGTH SHOWN | Coonew o BONDS sroox xcuaves] (ADVANCES MADE | CHAPIN-SACKS ADDS Received by Private Wire Direct to The Star Office. | Goodyear pt. Granby Consol. . Gray & Davis. .. Grt North pf (6) Grt Nor Ore (4). Grt Watn Su (8) Greene Canan Gulf Mo & Noj Gu Mo & Npf 63 Gulf 8t Steel (5) Hanna st (7)... Hartman ($2.50) Hayes Wheel (3) Hayes W pf (1% Helme Gen H. .. Hoe & Co A ). Homestake (17) Househ I’ (13%) Houston Of1 Hudson Man, Hud Man pf (6). Hudson Mot (3). Hupp Mot (1)... Hlinols Cant (7) Independ 01l (1) Indian Refining. Inland Stl (23). Inspiration Cop. Interb Rap Tr Internat Agri. .. Int Bus Mac (8). Int Cement (4). Int Com Eng (2) Internat Har (5) Inter Har pf (7) Int Mer Marine. Int Mer Mar pt.. Internat Nickel. Internat-Paper. Int Pap pt st (6) Int Ry Cent Am. Int Ry CA pf (5) Int Tel & Tel (6) Int Tel & Tel R Jewel Tea. Jones Bros Te: Jordon Mot (3). Kansas & Guit.. Kan City South. Kan C 8o pf (4). Kayser ‘Julius) Relly-Sprgfield. Kelly Spring pt. Kelsey Wh (6). Kennecott (3). . eystone T & R. Kresge Dep Str. Kuppenhm pf (7; Laclede Gas (8). Lee Rub & Tire. Lehigh Val (334) Lig & My B (14). Lig & Myis rgts. Lima Loca (4).. Loews Ino (1) Long Bell A (1). Loose- Wil Lorrillard (3)... Lorillard pf (7). Loutsiana Ofl. .. Louis & Nash (6 Ludlum (2)..... McCro (1.60) B.. Mclntyre (1). Maci Trucks Macy HR & Co. Magma Copper.. Magma Cop rts. Mallinson & Co.. Man E! Sup (4). Man El md g (5) Man Elev gtd. .. Man Shirt (13%). Maracatbo Ofl... Market Street. . Market St prior. Marland Oil..... Martin-Parry 4. Martin-Par rts. Mathieson Alks. Maxwell Mot A.. Maxwell Mot B . May Dept 8t (5). Metro G pf (1.89) Midind Pr pf (8) Minn & St Louls Mis Kan & Tex. MK&Tpt (5).. Missouri Pacific Missour! Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3). Mother Lode 7! Nash Mot (111). Nat Biscuit (14) Nat Datry (3)... Nat Dept Stapes Nat Dp St 1st (7. Nat Distillers pf Nat Enamel &S Nevada Copper.. NOT&M 123%.. NY Alr Br (4).. N Y Canners (2) N Y Central (7). NYCStL(6)... N ¥ Dock....... N ¥ Dock pf (5. NY NH & Hart.. NYO& Wst (1) N Y Shipbld (2). NY Steam pf (7) Norfolk South Norf & W (18) North Am (3.40) North Am pt (3) North Pac (5). Nunnally (1) Orpheum (1.80). Otis Elev (163%) Otis Ste Otis Steel pf. Owens Bot (2) Padific Gas (8).. Pacific Mall..... Pacific Ol (2). Packard (+1.50). Pan-Amer (4) B( Park & Tilford. . Pennsy RR (3). Pere Mar pf (5). Phila Co (4).... Phila& RC& 1. Phillip Morris. . Phillips Pet (2). Phoenix Hoslery Plerce-Arrow.. “Plerce-Arrow pt Plerce A prior 8. Pierce Of Plerce Oil pf. Plerce Petrol... Pitts Coal. Pitts Ut pf (1.20 Pitts & West Va Postum-Cer (4). Press Steel Car. Prod & Refiners Pro& R pf (3%) Pub Ser N J (5). Public Serv rt: Pub S E1 pf (7).. Pullman Co (8 Punta Al 8u (6). Pure Ofl (1%). Received by Private Wire Direct to The Star Office 6 104 % 48 44y 36% 1% 25 65 384 15% . 114% 11% 117 65 344 103 114% 1% 44 26 54w 75% 18% 60 94 3% 19 19% 47 % 34% 57% 23 15 43% 924 51% 2% 32 99% 136 12% 5% 58% 8 644 106% 324 39% 25% 2% 65% 79 394 103% 1% 100% 2% 36% 81% 37 6% 67% 48 23% 8 250% 664 45% 41% 100 62% 331 4% 114% 50% 83% 119% 1273% 27 b6% 30% 21% 24% 99 22% 126% 45% 47T% 67% 10 27% 89 10 59% 45 106% 10 60 16 69% 40% 20% 12% 47% 8 61 “‘i 57 28 46 69 24% 101% 137% 42 80% Pure 9" Pt (8)..°105 Radlo CorporA. Ry Stl 8pg (8).. Ry 8t Sp pf (7). 80% | 9% 104% 102% 104% MW M M 10% 98 2324 227% 281 ,l’l\i 1% 1% 78% % 51 50W % 103% 108% 108% 23 23 23 23 16% 16% 1% 5 % 78 Mot pf (1).. 1084 108K 107% 107% it Bi% 63% i Baw 51 Roy Duth 4.43% Rutland pfeeeese St'Josepn L4 (2) StL & San F () StLSan¥ pt (8).. St L Southwest. n pf (5). Ar Sav . Schulte (8). Schulte pf (8)... Seaboard Alr L. Seabd Air L pf.. Sears-Roebk (8) Seneca Copper. . Shell Trad (2.06) Shell Union (1). Simmon Co (2).. 58% 1254 119% 15 95 b4% 56 40% 65% 9% 43 70% 2% 1 22 39% 155% % 43 25 8 110% 1 14% EXCHANGE | . Close. 96 18% 4% 68% 85% 93 16% B Uy IN FRENCH BONDS Other Foreign Obligations Are Steady—Rail and Oil Liens Unsettled. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 17.—Trading in bonds proceeded today along much the same lines as on Monday. Specula- tive descriptions were heavy, in some cases weak; the high-grade investment descriptions were steady, but dull. The one grade In demand was good short- term obligations, for the very good rea- son that no risks were being taken by the buyers in this case elther as to money or as to the industrial outlook. Rally in French Bonds. The feature in the forelgn list was the moderate rally in French bonds. The general opinion in the Street wa: that the buying was coming from im- portant banking houses rather than from individual investors attracted by the low price. The French 7s got above 90, as against Monday's low under 89. The recovery in the other French issues was not so pronounced, but the selling had not been as heavy, either. The Greek 7s, for which the syndicate was closed Monday, were firm only a half point under the of- fered price, In over the counter dealings the market for new foreign offerings, such as German industrials, was very thin and sellers made liberal conces- slons. St. Paul Issues Improve, Among the speculative ralls the St. Paul lssues were a shade better. The comparative steadiness of the 4128 of 1932 agaln attracted attention. The selling seemed to be principally confined to the 4s of 1925. Some in- crease of activity came into the gen- eral mortgage bonds but without much change in price. Missouri-Kan- sas-Texas adjustments were heavily dealt in and fractionally lower. Important new offerings included $3,000,000 Glidden Co. first 6s, matur- ing serlally to yleld from 4.75 to 6 per cent, and $2,500,000 City of Graz 8s, to yleld 8.17 per cent. Sk STOCKS EX-DIVIDEND. te. Corporatior . 18—American Metal Co. ‘eb. 19—General Motors Corp . 19—Onyx Hoslery, In . 20—Brown Shoe ¢ | D Wrigley (Wm., Jr.) Co. 20—Yel. Cab. Mfg. Co., class 21—Natl Cloak & S8uit Co. p i G) & FOREIGN EXCHANGE, (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. . $4.8665 Zurich, Athens, drachma Madrid, peseta Vienna, crows. Christiania, Stockholm, « 21% 5 21% 28% 88% 108% 1 86% 85% 16% o Sinclair Ofl Skelly Ol Sloss-Sheft (6).. South Pac (6).. 108 Southern Ry (5) South Ry pf (5). Spicer MIR..... Std Gas & El (3) Std Gas & El ptd Stand Mill (5).. St 01l Calit (3).. StONJ ()... St Ol N J pt (7). Std Plate Glass. Sterling Prd 5% Stew Warner (5 Strombers (6).. Studebaker (4). Submarine Boat Superior Oll.... Sweets (new)... Symington..... Symington (A). Telautograph Tennessee Coppe Texas Co (3). .. Tex G Sul (17%) Tex & Pacfic.... Tex & PacC &0 Third Avenue. .. Timken (13%).. Tobac Prod (#). Tobac Prod A (7 Transcont Oll... Underwood (3). Un Bag & Paper Union Ol (1.80). Un Pacific (10). Un Pac pf (4)... Un Tank Car (5) Utd Alloy Steel. Utd Clgar (13%) Utd Ry Inves pf. U S Cast Iron P. 2! USCIPPL(D.. U S Distributing U S Hoft (50¢).. U 8 Ind Alcohol. U S Realty (8).. 1 U S Rubber. U 'S Rub 1st (8). U S Smelting U 88teel (17)... U S Steel pf (7). Universal Pipe.. Univer P pt (7). Utah Copper (4) Utah Securities. Vanadium. Va-Caro Chem.. Va-Caro Chem B Va-Caro Ch pf.. Va Ry & Power. Vivadou..eceeas Wabash. Wabash p Wwaldorf (1% Ward Baking Ward Baking pf ‘Webber (n(a‘v)v) West Pen (4. West Pen ptf (7). 96 West Maryland. 14% West Md 2d pf. Western Pacific. ckwire Sp rta. ;lekwlro pLrts. Wilson & Co pL. Willys-Overlant ‘Wills-Over ... ‘Woolworth 131, ‘Worthington. .. ‘Worthington A ‘Worthington B Wright Aero (1) ‘Wrigley (*3%). Yellow Cab..... Youngstn S&T. tPartly extra, $Payable in B . a B':m avarterly “or n:fin-;g. et v are ot tncluded, T O Seelal N n rred stock. bove table ! FOREIGN. Argentine 6s A..... 22 Ary tine 6s B. Argentine 7s. Austria 7, Bank 72 Belgium €s wi Bel:um S%aw Canada §s 19; 1 Canada 651931, ... g;na:- 88 1852 ‘anada 5%s 1929 Chile 7s 1‘!‘18 54 Chile 851941 Chile 83 1946 Chinese Gov Christiania $s Copenhagen 5=, Denmark 6s. . Denmark 8s 2 DEIS%s Mch 53. DETI5%s Nov '53. Dutch Egst I 6s°47 T 88 48 Finland s £.6s 1945 Framerican 7%s. . French Tawi .. French Govt 7%s. 16 French Govet 8s.. 25 Germany 7s w ... 139 Ger Gen Elec 7s.. 19 < 21 e I Holland . Amer 6s. 15 Hungary 6%s..... 27 7 Montevideo Nethetlahds 6s ‘54. Netherlands 6s '72. Norway 6s 1943. Norway §s'1344. Norway 65 1952. Norway 8s.... Paris Orleans Poland 6s '40. Pragtie 7%s Queensland 6 Queenslahd 7s. ... Rio ga Jan'8e 1947. Rio Gr DaBul8s.. 1 Sao Paulo State 8s Setne Dept of'7s 3 Serbs Crites Slo Solzzons 6y. Sweden 5%s ut. Sweden 5. . Ud Kingm 5% Ud Kingm 5% Uruguay 8 . 28 96% L16 102% 15 94% 99% Sales. High, Low. Close. 963% 96% % 96% 102% 94% 99% 93% 85 76% £5% 85%% 72 91% 103% 110% 9439 96% 102% 89 85% 8414 99% 104 101% 114% 674 1164 4 106% 4 POBY% MISCELLANEOUS. Am Agr Chem 5s.. 17 Am Agr Chem 7 AmChalnsf6s'33 9 Am Sml AmSmit &R 6s... Am Sug ref 6 AmT& Teltr 4 AmT& Tecltrbs Am.T. & T. SF 5s.1 Am'T & T deb 5%s AmT& Tecv6s. Am Water Wks b Am Writ Paper 6s. ‘Anacdonda st 6s Anaconda cv db 7s Andes 7s 25% pd Armour & Co 4%s Armourof Del 5% Atlasitic Refin 5a.. Sell Tel Pa bs Beth Steel pm Beth Steel rf 5s... Beth Steel 5%s ‘53 Beth Steel Brier HSt Bklyn Ed gen bs. . Bush T Bldg 55 '60. Calif. Pate 6%4s.... 1 Central Leather 58 Chile Copper & Col Gs & El 58 Commonwth P 6 Con Coal Md 1st 53 45 Con G NY 5%s wi.143 Consumers Pow b Cuba Canecvd 8s. Cuban-Am Sug 8s Denver Gas 5s. Dery (DG) 7s. Det Edison 58 40. Donner Steel 7s. .. Du Pont de N 7%s. Duquesné Light 6s Est Cuba 8uk T%s Empire G&F 7%, Feder Metls 78 '39. Fisk Rubber 8: Gen Elec deb bs. ... Gen Refractres 6s. Goodrich 6%s..... Goodyear 8s 1931.. Goodyear 3§ 1941.. Hershey 63 1943... Humble O&R 5%s. 1 Illinofs Bell 1st 5s Iliinols Steel 4%s. 26 Indiana SteelSs. .. Magrga Cop ov 7a.. Manaht Sug 8t 1% Marland Qil 8s '31. North Am Ed 68 North Am,Ed 6%s. Nor States Pow bs. Otis Steel T%Ha. ... Otfs Steel8¥. ..... Pacific Gas & E1 b3 PacificT & T 68’63 19 Pari: rican 6s. 109 Pan Aimer Pete 78. 27 Phila Co 834538 8 Phila Coref8s A Phil 8 Rag-C&I bt Plerce-Arrow 8s.. 10 Producers & Rt 8s. 4 public Servjes G B... 26 Punta’Alegre 7s.. 24 Sharon,St1H 8s... 7 Slncly‘l\; Ofl_6s.... . 23: Sinclair Ofl 8%s Sinclair Ol 7 Sin CQ.P.1 83 t TesnElec Pow 63 Union Bag & P 6s. U S Smelter USSteelsfbs Utah Pow & Lt bs. Va-CirChem 7s... Va-Car Ch 1%s sw Vertigntes Sug 7s. Warner Sug 78 9. Warner Sug 7s *41. Wost Bloc .81 West'n Union 8% Westhsighiouss 7s. . Wickwire Spén 7 Wilson & Co 1at &8 Wilsen & Co.cy 6s Witichestas & 7ise '8 10 Winchester s YoungstnBaT 6s.. 68 x 12 30 99% 52 100% 99% Rlst b2 49 97 106'4 102 9674 2 9 99% 100 994 964 106% 102 96% 100% 954 101% 1254% 95% 51% 100% 102% 100 881 93% 99% 100% 924 95% 88% 96% 99% 99% 94% 4 102 100 107% 101% 100% % 100% 100 89% 101% 102% 101% 103% 109 120 103% 100% 87% 9274 %% UNITED STATES BONDS. (Sales are in $1,000.) Bales. High. Low. Close. Lib3%s... 50 10122 10219 10122 Lib1st4%s 31 10128 101 23 10123 Lib2d 43%s. 300 2011 100 28 100 28 Lib3d 4%s. 712 101 156 1012 10112 Lib 4 43s.. 221 10130 101 26 10128 US4s1944. 87 100 27 100 26 100 26 US4%s'52. 55 10426 104 25 104 25 RAILROAD. 1 Atchison adj Atchison Gen Atlan CL 4%s"64., B & O gold 4, & 90 101 1085 69 87 87 Bklyn-Manhat 6s. Buff R & Pitt 4%s. Canada Pacdeb 4s. 4 Car Clinch & O 6; 8 3 2 1 94 Canada North 7 Ches & Ocv 4%s.. 25 2 Ches Ogn 4¥s.... 16 % 89% Ches & Ohlo cv 6. 131 Chi & Alton 38 Chi & Alton 3%s.. 27 Chi B&Q 1st rf 6s. . CB&Q-Ill 3%s CB& Q-1 aiv 4 C&NW gen 4s. Chi&Elgnbs. ... Chi Great West 4s. T C M & Puget Sd 48 Chi M & St P 48 CM&SUPAb4s.. 101% 82 ChiM&StP 6s... Chi & N W ref 5s.. Chl& N W 6%s. Chi&NW17s C 1 Rys Gs. Chi Un Sta 4% Chi Union Sta 6s.. Chi & W Inc cn 4s. Cleve Term 5%s C&W I5%s’ 62 wi. CCC & St L 4%s CCC & St L 5 iy CCC&StLrf 6n A. Colo & Sou 4%, Cuba R R 5s. Cuba RR 7%s.... Del & Hd 1st rt 4s. Del-Hud cv 55 ‘36. Del & Hudson 6%3 Den & Rio G en 4s Det United 4% Erie 1st cons 4 Erie gen 45 Erie conv 4s A Erie conv 4s B Erfe conv 4s D. Erte Genessee R 6: Erle (Pa)clt tr 4s. Gr Trunk sf db 6s. Grand Trunk 7; Great North 5s. Gr North 5% Gr North gen Havana ERL&P 58 Hud & Man ref 5s. Hud & Man aj 5s. . 111 C-C St L&NO 53 Int Rap Tran 6s.. nt Rap Tran 7s. .. Int & G Nor 1st 6s. Int & G Nor aj 6s.. Iowa Cent rf 4 Iowa Cent 1st 5s.. Kan City Ft S 4s. Kansas City S 3s.. Kansas City S bs.. Lake Shore 4s '28. Lake Shore 4831 Lehigh Val cn 4s.. Louis & N uni Lopis & Nash 7 Manhat Ry cn 4». . Man Ry 2d 4s 2013. Mil El Ry & Li6s.. 23 M StP & SSMcn §s ‘; K K & T adj b8 K&TprinbsA. 11 K&TésC M> FPacific ge M M M M Nassau £ Ry 45 37 NO Tex &Min 6s. 11 N O Tex & M 68 B. NY Chi & St L5%s 12 NYC&StL6sA.. 18 New Hav d 4s '57. N Y, Ont, Ws 1st New York Ry fr 4s 10 NY Ry rf 4sctfs... 25 NY Rysadj 5sct.. 12 N Y State Ry 4%s. 1 NY W & Bos 4%8s. 16 Northern Pac 3s Northern Pac 4s. Northern Pac b 0 Northern Pacr i6s 13 Ore Short Liref 4s. 11 Ore-Wash 1st rf Pennsyl con 4% Pennsyl gen 4% Pere Mraq 1st 4 Pere Mara ist 58 Peoria & E inc & Por R L &P 68°47. 10 CROOORD . s StLS St P & KCShL 4%8s 4C St P Un Dep 6% 51 Sou Pacific 4s'29.. Sou Pacific ctl 4s.. Sou Pacific ref 4 Southern Ry &u 48 Southern Ry 1st &s Southern Ry 6s ct. Southers Ry 6%s. Term Asso St L 4s. Texas & Pac 1st 6s Third Ave adj 3 19 6 28 EIST Toledo Trao 6s. Union Pac 48 '37... Un P 1st rf 68 Union Pac cv 63, 8 B 104 ern Md 4 ern Pacific TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) 101 101 loiy 1001516 101 1-32 101 .22 102 162 43%s September 15, 432 Maren 13, 20 4345 December ' 15, Cost of living in Australls has b} olided greatly 102% | much 99% | phasizing the huge 85% | wheat afloat on ocean passage. A 103% | wheat. 65% | slow. After opening at % to 1% off, 56% [ May 1.26 to 1.26%, corn continued to 90% |53 to 53%. % Second 100% | National Baok of Washington.. 6% Unlon veovaren 104% | Unlon, - “9"’ ]l‘fi 100 1-32 ks fer & Stora 110 hants’ Transfer ge. 017382 | Mers Linotype. 1 132 | Lanston . Mc " "FINANC INWHEAT PRCES Chicago Market Scores Good Gains After Very Weak Opening. 91% | By the Ansociated Press. 91% CHICAGO, Fgbruary 17.—In a gen- 87% | eral rush to sell wheat underwent a sharp setback today during the early dealings. There was no indication of any important new export business, d_quotations at Liverpool were lower, with cables em- quantities of good deal of the selling here was on standing orders to stop losses at cer- tain fixed limits. The opening, which 79% | ranged from % to 3% decline, May 106% | 1.813 116% | 152%, was followed by something of 102% | a rally, but then by a drop lower to 1.82% and July 152 to than before. Corn and oats gave way Wwith Cash demand for corn was sag. Oats started % to 1% down, May Rallles failed to hold well. In sympathy with grain, provisions were weak, despite firmness of hog values. Notwithsjanding a temporary setback, the wheat market today scored gains at the last. It was said export business had developed and that domestic re- celpts were becoming sqanty. High. Low. 1.84 1.7 3 3 8 s 58 1.43% 128% 3 i May July . Beptember OATS— May July e eEee & a3 588 BER bk 58S BB BER 4ik ¢ 8 R ak FeE AE & 55 COTTON QUOTATIONS AT HIGHER LEVELS By the Assoclated Press. NEW YORK, February 17.—The cotton market opened steady today at an advance of 12 to 17 points on faflure of the early weather news to indicate anything more than light showers at a few points in the South- west. Buying also was encouraged by firm late cables from Liverpool, and active positions sold 17 to 19 points net higher before the end of the first hour, May advancing to 2471 and October to 24.83. The South was a moderate seller, and there was considerable realizing, but early offerings were absorbed by cov- ering and local and trade buying. Liverpool was relatively easy, owing to a sharp break in Egyptian cotton, but recovered before the local open- ing, new crop months leading the advance, presumably on less favorable Southern weather news than expected. New Orleans Quotations. NEW ORLEANS, February 17.—The cotton market opened firm and fairly active despite poorer cables than due. First trades showed gains of 9 to 18 points. The market continued to gain after the opening call, owing to the continued absence of rains in the West and an official forecast for falr weather. May traded as high as 2475, July 25.01 and October 24.62, or 19 to 27 points above yesterday's close. e Washington Stock Exchange SALES. & e et ooh. Pl T e e éz‘x;fllgenu;l“l‘mlx Co.—10 at 85, 10 at 85, 10 at 85. National Mtge. & Invest, ptd.—100 at 9%. AFTER CALL. ‘Washington Gas Light—10 at 58. Capital ‘Traction Co—10 at 2%, - shington Gas Light—100 at 51%. ‘llnli Rwy. & Elec. & r. 6s '33— 000 at 101%. ‘2“ shington ;fi'y & Elec. 45—$1,000 at 79%, Capital Traction—10 at 92, 10 at 92. Potomac Electric 5. & r. 7s '41—$1,000 at 07 5. Tpital Traction—30 at 92. ington Rwy. & Elec. pfd.—2 at 81%. ington Gas 5s—$500 at 99%. UNLISTED DEPT. Departmental Bank—1 at 8. Money—Call loans, 5 and 6 per cent. Bid and Asked Prices. BONDS. PUBLIC UTILITY. ington Rwy. Washington Ri 10 at 331 American Tel. & Tel American Tel. & Tel & Tel. ctl. tr. Tel. & Tel. ctl I» Alex. & Mt. Ver. ct Balt. & Ag:nlp. Bs.. . Rwy. & Elec. 41 . Rwy. & Elec. gen. ... MISCELLANEOUS. Sthern Bld. Sl Pt . Market Coid Storage 5s.. Wardman Park Hotel 6s....... 1 STOCKS. PUBLIC UTILITY. NATIONAL BANK. 90% | xattonal Capltal 96% | Columbl . TRUST COMPANIES. ants' .. Nationai Savings & Trus Goreoran remen’ Kutional Union TITLE INSURANCE. Columbia_Title. Real Estate « & 3 athaler S aten o Ot Duten Market pfd onoiype. .. i duosd . FR IAL. ST SURPLLS Company Shows Steady Gain in Earning Power—Other Financial Notes. BY CHAS. P. SHAEFFER. A net addition to-surplus of $322, 760.20 after payment of the regular dividends on the 8 per cent preferred stock and the Interest on its mort Bages and notes was made by the Chapin-Sacks Corporation during the year ended December 31, 1924, Ed- ward S. Perot, jr., president of the corporation, told stockholders at tho annual meeting held in Richmond this morning. = e income and expense account for the year follows: Net s Cost les and expenses. Other deductions Profit before d, lepreciation. ... Less allowance for depreciation. Net profit before Prochiing Preere P taxes Net addition to surplus.......... $3 50. The corporaticn had total assets $6820857.76 on December 31 last This includes cash to the amount of $316,793, accounts receivable of $§3 426, ‘merchandise Inventories 3 375 and marketable securs 030. Land, buildin are listed at $; garded as conse y the Am can Appraisal Co. Deferred charg amount to $191,106, and the good will 0[1}:: company is listed at $1.00. company {s capitalize 5,- 054,000 classified as * folloms: Biun: Der cent preferred stock, $1.41 Z Der cent general preferred, $2 X 200; cl “A” common, $1,179,700, and class “B” common (no’ par), $25,000. Statement to Stockholders. In a statement to stockholders Mr Perot said the corporation mnot onl improved its earning power during the year, but also improved its current financtal position in spite of the fact that the weather of 1924 was adverse to the sale of jce cream, which fact caused bitter complaint by all manu- facturers of this product in the cou try. Mr. Perot revealed that a de. talled check of the titles, also deeds and leases, of real estate and buil ings has permitted the proper record ing of all property, with the result that all titles are now clear. Considerable money was spent dur- ing the year to impro: and recondi- tion most of the plants and equipment of the corporation, but the thought Was cxpressed that the expenditures ely and economically made, and that the earnings for 1925 will more than compensate for the forced additions to the corporation’s perma- nent assets. These expenditures however, made it necessary to hold back the dividends on the 7 per cent general preferred stock, but it is ex- pected these stockholders will be imbursed on and after Juns 1 of year. New Director Chosen. Stockholders, following the report added James Mullen to the directorate In place of F. E. Nolting, at the sas time re-electing the following dire ors for the year: Edward S. Perot, jr.; H. J. Adair, J. A, M. Adair, H H Obear, J. E. Richards, R. H. Weber, C. J. Gockeler, A. F. Willlams, W H._Church and E. C. Brandenbur Election of officers ang members of the new executive committee will be made on February 27. Local Trading Heavy. One of the heaviest trading ses- sions of the year was recorded on the Washington Stock Exchange today, with but little change in price levels. Washington Gas stock re. acted fractionally to 37% on a sale of 100 shares, and Commereial Na- tional Bank was easier at 157 on a sale of 10 shares. Thirty shares of Continental Trust Company broug 85, and Riggs National Bank r mained unchanged for the day after earlier recording a qu et o Quarter point Washington Railway and Electric common sold to the extent of 50 shares at 100%, with the preferred issue changing hands at 81%. Capi- tal Traction declined to 92 after opening an eighth higher. On the unlisted section one share of Departmental Bank sold at 6. New Offering on Market, Crane, Parris & Co. today are offer- ing $2,250,000 of Richmond Cedar Works first (closed) mortgage 6% 'per cent sinking fund gold bonds, ma-. turing January 1, 1945, at 100 and interest. The bonds are direct obligations the Richmond Cedar Works, semnrey by a closed first mortgage on over 187,000 acres of timberlands, valued at more than $9,000,000, and on manu- facturing plants at Richmond and amden appraised | Camden n excess of Earnings of $541,495 annually last four- and-one-half-year period. A sinking fund will be maintained to retire the entire issue by maturity. the for works the average Good Progress on Bank. The steel work, aggregating 500 tons, has all been placed in the new home of the Federal-Amerifan tional Bank, the main banking fio has been poured, the mezzanine floor is being poured and 14 carloads of stone is now awaiting the construc- tion firm. This, briefly, sums up the status of the new building. The building is expected to be under roof by May 1 and be ready for occupancy some time next Fall Ford Seeks Bend Issue. The Detroit, Toledo and Ironton Rallroad (Henry Ford's line) applied to the Interstate Commerce Commis sion today for authority to issue $1,181,000 in refunding bonds. The securities will evidence a part of the cost of constructing 20 miles of new line between Flatrock and Bur- ban, both in Michigan. Gain Noted in Factories, In spite of the usual period of in ventories and slack business en- countered in industry during Jani ary, employment in manufacturing industries showed an increase of per cent in January, as compared with December, it was shown in a report made public today by the Department of Labor. Wage figures,' however, shifted slightly to reduce the total earnings of employes in 8,785 reporting es- tablishments 2.6 per cent. The slight increase in business indicated was general among the industries, al- though exceptions were shown in thc stone, clay and glass industries. Teller to Undergo Operation. Fred E. Ryon, savings teller at the Merchants Bank and Trust Co., e tered Sibley Hospital yesterday for an® operation that will keep him away from his duties for the next two weeks. TAKES W00D’S PLACE. SHAWSHEEN VILLAGE, Mass., February 17.—The board of directors of the American Woolen Co. yester- day elected Frank N. Carpenter of Boston, first vice president, to fill the vacancy caused by the recent resig- nation of Cornelius A. Wood, son of William M. Wood, former president and founder of the company. Mr. Car- penter has been associated with the company, fox JR-yearhe . ..