Evening Star Newspaper, February 18, 1925, Page 24

FINANCIATL, RAILS LEAD RISE -IN STOCK MARKET Many Specialty Shares Also Show Strength After Yesterday’s Slump. BY STUART P. WEST. Special Dispateh to The Star. NEW YORK, February 18.—The stock market today was irregular and less active than it had been on the two preceding days of the week. As a group the rails gave the best dem- onstration of rallving power, several of the high-grade Issues gaining moderately. Atchison, which had been the star performer late Tuesday, did not follow up its advance as many had expected. There were points of weakness, as in the case of American Woolen, and numerous strong spots, especlally among stocks of the spe- cialty type. Chief Strength in Ralls. The principal strength lay with the especially the lower priced non- Rock Island above 47 was up over 2 points. New Haven continued to reflect the fa vorable impr made by the suc- ¢ of 000,000~ refunding loan. St Francisco and Xan uthern both rose easlly and Texas and® Pacific crossed 54 again. There was Some buying for a time In Southern Pacific, which has a habit of following tardily moves in Atchison. Union Pacific Strons. Pacific above 150 was up over 2 points from the low of the weel. American Woolen had been run up Tuesday at the expense of the shorts. But the real position in the stock was shown when today this tem- porary element of support was re- moved. There was persistent selling which carried the price off more than three points. The Street is not im- ressed with statements that the oolen industry is on the mend and it i inclined to relegate American Woolen common to the class of in- definite non-dividend payers. ulf States Steel Soars. Gulf States Steel sold above 80 be- fore the announcement soon after midday of an i1l per cent stock dlvidend. The stock had not dis- counted the news, for shortly after- ward it was selling at 93. Sloss Sheffield was drawn along despite the fact that so far there has been no encouragement from Wall Street quarters for rwmors connecting the two properties The steel trade news was certainly anything but bullish. United States Steel rallied another point early in the day, but then was freely supplied. Bethlehem Steel for the most part was heavy. News Helps Stocks. Wall Street liked the prominence given to the new Diesel Locomoative in the news of the morning. It was not particularly concefned with how this would figure out for the rallroads and equipment companies. But for the mo- ment it was good speculative material and as such constituted the argument back of the rise in Baldwin Locumo- tive. Further evidence was furnished today of the part which the short interest has been playing in the market for Ameri- can Woolen common. While the general body of stocks were giving a much bet- ter account of themselves than they had on the prefious day, American Woolen sarg to a new low. The bellef was that in "Nuesday’s selling movement the shorts in American Woolen were actively cover- ing, but with the market in better shape today for a resumption of their cam- paign they were subjecting the stock to renewed pressure. MARKET CLOSES STRONG. High-Priced Speci!ltxes Are Late Trading Feature. By the Associated Press. NHW YORK, February 18.—Stock prices made further recovery from recent weakness In today's session, with buying stimulated by favorable dividend announcements and higher carloadings. Covering operations of bear traders, who had sold stocks freely on the first two days of the week, was an important factor in the advance. Total sales approxi- mated 1,600,000 shares. The closing was strong. Bullish demonstrations In the high-priced specialties featured the late trading, Union Ad Rumly pf (3) Afr Reduct (16). Ajax Rubber.. Ajax rights Alaska Juneau. . All Am Cable (7) Allled Chem (4). Allls Chalm (4). Am Agricul Chm Am Ag Chm pt. . Am Beet Sug (4} Am Beet § pt (6) Am Bosch...... Am Can (18 |Am Car & F (1) AmC & Fpf (7). Am Chatn A (2). Am Chicle. . Am Chicle pf. Am Drux Snyd. Am Express (6) Am & F = : } Am Hide & Lea. Am Hide & Lpt. Am Ice (7)... Am Internatl. .. Am La France (1 Am LaFrn ot (1) Am Linseed. .... Am Linseed pf.. Am Loco pt (7). “Am Metal (3). .. Am Ry Exp (6). Am Safety Raz.. Am Ship & Com. Am Sm & Ref (6) AmS & R pt (7). Am Snuff (12) Am Stl Fays (3). Am Sugar...... Am Sugar pt (1) Am Sumatra. ... Am Sumatra pf. Am T & Cab (5). Am T & Tel (9). At Tobacco (7). Am Tobac B (7). Am WWE&EI 30c. Am W W pf (6). Am WOW st (7) Am Whol pf (7). Am Woolen Am Wool ptd (1) Am Zinc. . Am Zine pt..... Anaconda (76¢). Archer-Daniels Armour Del (7). Arn Cons & Co.. Asso Dry G (5). Asso Of1 (1%) AtT&SFe (1 AT&SFpt (6). Atl Coast L AtGulf & WI AtGulf & WIp Atlantic Refiinin Austin-Nichola. Auto Knitter. ... Auto Sales. Auto Sales rt. Baldwin L (1) Bal & Ohio (5).. Bal & Oh pf (4). Bang & Ar (3).. Barnet Leather. Barnsdall A Barnsdall B Bayuk Cigar. Beech-Nut (3).. Bethlehem Steel Beth St1pf (7). Beth St1 pf (8).. Booth Fisheries. Booth Fish 1st. . Briggs MIg(3%) British Emplire.. British Emp 2d. Bkl Edison (8).. Brk-Man Tran.. Brklyn Un G (4) Brown Shoe (4): Brunswick-Blke Brunswick Term Burns Bro (10). Bur Add Ma (3). Butte Cop (50c) . Butte & Superioy Butterick Co. Caddo Central. Cal Packing (6) Cal Pete (1%).. Calit Pet pf (7). Callahan Zinc. .. Calu & Ariz (2). Calumet & H (1) Can Pacific (10). Cent Leather. .. Cent Leather pf. Cero d Pasco (4) Chand Mot (3).. Ches & Dhio 14). Chicago & Alton Chic & Alton pt. Chic & Egat Il Chi&EMpt... Chic Gr W Chi & Nwn (4).. ChiR1& Pac.. CEI&!’D!(S). CRI&PPI(T). Postum Cereal soaring 8 points and Commercial Solvents A and B 11% and 183, respectively. Markets at a Glance NEW YORK—Stocks higher; wide- spread demand for rails. Bonds steady; heavy buving of New Haven francs 7s. Forelgn exchanges lower; sterling and French francs react. Cotton higher; unfavorable weather Texas. Sugar easy increased spot offerings. Coffee lower; poor spot demand. CHICAGO—Wheat higher; able Russian crop news. Corn firm; decreasing receipts. Cattle steady to higher. Hogs lower. GRAIN AND PROVISIONS BALTIMORE, February 18 (Spe- olal).—Potatoes, per 100 pounds, 1.25a 1.65; sweet potatoes, barrel, 2.50a 5.50; yams, bawrel, 3.50a4.50; beans, hamper, 26.00; beets, crate, 2.50a 3.00; broccoli and kile, bushel, 50a6i brussels sprouts, quart, 10a25; cal bage, ton, 20.00a23.00; savoy, bushel, 50a75; carrots, 100, 5.00a7.00; cauli- flower, crate, 1.75a2.50; celery, crate, 2.50a3.75; eggplants, crate, 3.50a5.50; lettuce, basket, 2.00a3.00; onions, 100 pounds, 3.00a3.25; oyster plants, 100, 8.00a10.00; parsnips, basket, 40a60; peas, hamper, 4.00a6.50; - peppers, crate, 3.00a5.50; spinach, bushel, 1.00a 1.25; squash, crate, 3.0044.00; to- matoes, crate, 3.00a5.00; turnips, basket, 50a75. Apples, packed, barrel, 3.50a7.50; bushel, 1.00a2.25; grapefruit, box, 2.00 @3.00; 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, 1.91% nominal; No, 2 red Winter, garlicky, domestic, 1.91% nominal; No. 3 red Winter, no quota- tions. Sales—None. Corn—Cob, new, vellow, spot, 6.50a 6.75 per barrel; track corn, yellow, No. £ 1.40 asked. Sales—None, 2. 62%; No. 3, 61%. Rye—Nearby, 1.40a1.50; No. 2 rye, Epot, 1.62%. Hay—Receipts, 60 tons. of gqod hay of both timothy and light clover mixed are light, and prices are well sustained under a fairly good de- mand. Low grade, inferior and dam- unfavor- i Receipts | Fi Chi Yellow C (4) Chile Cop (2%). Chino Copper- .. Cluett Peab (5). Coca-Cola (7). Colo Fuel & Iron Colo Southern. ... Col G & E (2.60), Col G & E pf (D). Col Carbon (4) Com Inv (2.50 Com Solv A (4] Com 8olV B...... Congol-Nairn (3 Conley Tin Foll. Consol Cigar. ... Con Cigar pf (1) Con Distributrs Cont Can (4) Cont Can pf Cont Mot (80¢). Corn Prod (2) Cosden Co. . Cosden pf (7) Cructble Stl (4). Crucible pt (7). Cub Am Sug (3). Cuban Cane Sug Cub Cane Su pt. Cuyamel Fr (4). Daniel Boon Davison Chem. . NEW YORK 47 96% 100% 1% 1% Y% % 1% 1% 120 - 120 85% 8b% 20% Bi% 39 9% 171% 1724 200 201 125% 125% 24 24% Am Locomo (6). 1 108 108 L 146% 149% 4% 49% 63% 63% 99% 99% 19% 20% 4% 48% 45 46 133% 133% 874 BTH% 86% 86 35% 87% 101% 101% 103 103 97 97 514 B1% sk 8% s ’h 3213 42% 43 82 82 111' 112% zuw 4 4% 15% 16% 181% 136 8% 19% 65 65% 40 40 39 39 26% 26% 21 21 49% 51 65 664 7% 47% 101 101 ° 116% 115% 5% b% 30 30 36% 37% 3% 10 10 126% 126% Low. Close. 47 47 95% 100% 1% H% % 1% 120 86 Allied Cm pf (7) 118% 118% 118% % \m 51% 88% 39 170% 2 “41% 417 - 6% 1% 1 % 4% 4% 4 4% 97 K 7% 19 22% 1% 103 27% 107 T4 19% 22% 1% 105% 27% 107 149% 160 19 62 52% 30% 3% 8% 15% 2% 50% 12% 28% 13% z % Chi.& Nw pt (7). 115% 115% 116% 45% 4T% 87 96% 50 161% 174 64% 65 116% 116% 8% 9 39% Del & Hud (9).. 14 DelL& W (6).. DS RGWstpt Detroit Ed (8).. Dome Mines (2). Doug Pectin (1). u Dupont (10) . DuPont deb (8). Duquesne pf (7) Eastman (6%). Eleo St Bat (15). Elk Horn Emmerson Brat End-John (5) Erf Erie 2d of. Exchangs Famous Pl (8).. Fed Lt&T (*7). Fed Lt & T pf (6 Federal Mines. . Fed Mines pt (1) Fid Phoenix (6). Fifth Ave (64c) Fisher Body (5). er Motor.. nged hay has no settled market value and is dull. Quotations today—No. 2 timothy, 20.50221.50; 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, 16.00a17.00 per ton: No. 1 oat, 16.00a17.00; No. 1 straight rye, 18.00a19.00. RATES ON BAR SILVER. NEW YORK, February 18.—Bar sile wer, 68%; Mexican dollars, 52%. Gen Am Tuk (3) Gen Asphait. Gen Asph pf (). Gen Baking (6). Gen Cigar (8). Gen Electric (8 Gen El spl (60c) Gen Motors (6) 93% 132 85 20% 20% 61 61 164% 164% 13% 13% 63% 64% 12% 12% 82 11 49% B1% 56% 57% 95% 95% 130 180 95 98% 28! 1% 103 27% 45% 86% 961 50 86% 25 62% 89 43% 54 164% 171 161% 174 39% 40 2% 2% 30% 30% 88% 88% 8% 9 5% % €34 116% 8% 38% 315 THE EVENING STAR, WASHINGTON. gh. Low. Oloss. | Open. HI| Gdyear prior (8) 106% IM% 106% Granby Consol. . Grt North pf (5) Grt Nor Oro (4). Grt Wstn Su (8) Greenu Canan.., Gulf Mo & Nor. Gu Mo &Npf 63 Gulf St Steel (5) Hartman ($2.50) Hayes Wheel (3) Hay Houston Ofl. Hudson Man. . Hud Man pt (5). Hudson Mot (3). Hupp Mot (1)... % | Hydraulic St pt. Illinols Cent (7) 114% Independ Oi1 (1) Indian Refining. Tnland Stl (23%). Inspiration Cop. Interb Rap Tr... Internat Agri. .. Int Cement (4). Int Com Eng (2) Int Mer Marine. [nt Mer Mar pf.. Internat Nickel. (nternat-Paper. Int Pap pf st (6) Int Ry Cent Am Int Tel & Tel (6 It Tel & Tel R Jewel Tea. Sewel Tea pf. Jones Bros Tea. Jordon Mot (3).. Kan City South. Kan C So pt (4). Kayser (Jullus). Eelly-Sprgfield. Kelly Spring pf. Kelsey Whi (6). Kennecott (3).. RKeystone T & R. Kresge Dep Str. Kresge SS pf (8) Laclede Gas (8. Lee Rub & Tire. Lehigh Va1 (3%) Liggitt & M (14). Lig & My B (t4). Lig & Myrs rgt: Lima Loca (4) Loews Ino (2, Loft...... Long Bell A Loose-Wiles Bis Lorrillard (3)... Zouisiana O11 Louis & Nash (8 Ludlum (2).. ory Bt (7). Melntyre (1)... AMaci Trucks (6) Mack T 1st (7)... Mack Trk 2d (7) Macy HR & Co. Magma Copper.. Magma Cop rt Mallinson & Co.. Man E\Sup (4). Man El md g (5) Man Shirt (1%) Manila Electrig. Maracatbo OLl... Market St prior. Marland Oll..... Mar-Rock (25¢). Mathieson Alka. Maxwell Mot A. Maxwell Mot B, Metro G pf (1.89) Mexican Seabd... ‘Miami Cop (2) Middle States. Minn & St Louts M StP&SSM pf 4 Mis Kan & Tex. H K & T pt (5) ourt Paclfl Missourl Pac pf. Mont Power (4). Montgom Ward. oon Mot (3)... *Morris & Essex siother Lode 750 Mullins Body..... Nash Mot (111). Nat Acme. Nat Cloak & Sut Nat C1& S pt (7) Nat Dairy (3) Nat Dept ?wru Nat Supply (3).. Nevada Copper. . NOT&M 123%.. N Y Air Br (4).. N Y Dock pf (5). Y NH & Hart.. NYO& Wst (1) N Y Shipbld (2). North Am (3.40) North Am pf (3) North Pac (6)... Nunnally (1). Onyx Hoslery. .. Orpheum (1.80). om Elev,('S%) owem ot. Pac Coast 2d pf. Pacific Oil (2). .. Packard (11.50). Pan-Amer (4).. Pan-Amer B (4) Panhandle...... Park & Tilford.. Penna C & Cok Pennsy R R (3). Penn Seab Steel. Pere Marq (4) Phila Co (4) Phila&RC&L Phillip Morris. . Phillips Pet (2). Phoenix Hoslery Plerce-Arrow. . Plerce-Arrow pt Plerce ofl. = Pler il pt Plerce Detrai. Pitts Coal. Pitts Coal p! Pitts Term Coal. Fitts & W Va Fross Stecl Car. Prod & Refiners. Pub Ser N J (5 Public Serv I 184 67% 3w Gt West 8 pf (7). 110 l“ '2‘6 87% 1% 6% W oot (1% loua 24% 61% 39% 15% % 274 47 Inland Stl pf (7) 108% 2i% 81 12% Int Bus Mao (8). 119% 56% 85% Internat Har () 103 Inter Har pf (7). 114% 12 46 26% 76% 1 May Dept St (5). IOE 614 16% Packard pf (7)..: 107K ’IZ% Peorples Gas (8). 116% . 24% Pullman Co (8). 139% Pure Ol .1%). 42% 30% Pure Oil pt (8).. 106% Radio Corp of A. Radio-C pf (3%) Ry Stl 8pg (8) Reldln‘ 1st (3)« Bead 2d pf (3).. ington Type Replogie Steel.- Rep It & Steel.. RepI &S8pf (7). Reynolds Sp (1) Rey Tob B (!)... Rossia Ins (6) Roy Duth Rutland pf. . St Josepn 1 (3) St L & San F (§) StLSanP pt (6).. St L Southwest. St L Swn pf (). 60% 51% 126% 41% 5% 80 49% 71 94 364% 104% 79 24% 643 39% 15% ™ 114% 27 15% 108 19 484 854 5% 23 16% 41% 92 2% 2% 31% 90 131 12% 6% 59% 58% 8 67 224% 6% 47% 34‘6 8! 8 16% 16 263% 260 6 6 69 67% 68 67% 122% 121% 128% 128% 58 68 38% 31% 22% 45% 43% 60% 16% ll)"l 107% 1% 2% 4% 304 19% 7 2% 2% 116% 116% 69 69 53% 47% % 105% 106% 61% 60% 61% b51% sTock EXCHANGE | |RALLY IN STOCKS Recdvndhy?rlvlenDhmtomShroln HELPS LIFT BONDS 0il Issues Rebound on Price Advances—Rail Liens Also. Gain. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 18.—The bond market turned firm today, Indi- cating apparently that Tuesday's reaction was more in sympathy with the weakness in stock than it was due to any change in investment con- ditions. The altered attitudé was evident not only in intentions but in’the-vol- ume of the offerings, which were sharply reduced. In other words, for good securities the amounts wanted were larger than the offerings. New Isasues Popular. The market for new issies was also greatly improved, notably In the case of the Poland 8s, the demand for which was something of a surprise to the dealers: It was also stated that upsold blocks of recent issues were being rapidly disposed of. One rather jJnotable exception was that of the five-vear 7 per cent Krupp notes. offered in December at 991;. Upon the closing of the syndicate the quotation slumped at one time be- low 94. In general. however, German and even French indusrial obligations were stronger. In listed foreign honds there was not much change. The French bonds held the gain of Tuesday, but did not do much more. Bankers were not ready to admit that a new $200,000,- 000 loan, 'such as was suggested In Paris, could be placed here at this time. New Haven ' Liens Strons. The New Haven lssues were leaders of the speculative rails. 7s, both dollar and franc bonds, which mature this Spring, were traded in heavily and fractionally higher. New York, West Chester and Boston 4%s, which depend for this Investment rating entirely upon the New Haven guarantee, ran up briskly, St. Louls-San Francisco incomes and adjustments did better, and there was renewed inquiry for the same road’s prior liens, as well as for the corresponding _bonds of the Mis- souri-Kansas-Texas. Of the utllitles bonds of the grade of North Ameri- can 68, Philadelphia Co. B%s and Ohio River Kdison 6s were bought at advancing prices. the The GULF STATES STEEL VOTES BIG DIVIDEND Directors Declare 11 1-2 Per Cent, in Addition to Usual Quar- terly Payment. By the Associsted Press. NEW YORK, February 18.—Direc- tors of the Gulf States Steel Co. to- day declared a stock dividend of 111 per cent in addition to the regular quarterly dividend of $1.25 a share on the common stock. Payment of the stock dividend on March 13 will enable common stockholders to ob- tain the regular disbursements on thelr increased holdings, since - the latter is payable April 1 to stock of record March 20. BUTTER LOWER TODAY. CHICAGO. February 18.—Butter, lower; creamery extras, 40%a4 standards, 40%; extra firsts. 3814a40; firsts, 36643714 ; seconds, 32a3415. Eggs, lower: recelpts, 16,842 cases; firsts, 3214a23; ordinary firsts, 31a31%. —_— SinclairOfl..... 21% Sinclair pt (.)... 20 28% 89% South Pao (6).. 103% Southern Ry (§) 91 South Ry pf (6). 85 Spicer Mfg..... 16% Std Gas & E1 (3) 41% St Oll Calif (2).. 63% StOINJI(1)... 4% Std Plate Glass. Stew Warner (6 Studebaker (4). Submarine Boat Superior Oil.... Superior 8tl (3). Symington. . » Symington (A).. Tennessee Coppe Texas Co (3). .. Tex G Sul (17%) Tex & Pacifio. .. Tex & PacC & O Tide Wat Oll (4) Timken (13%).. Tobac Prod (6). Tobac Prod A (7 Transcont Oll.,. Twin City (4)... Underwood (3). Un Bag & Paper Union Oil (1.80). Un Pacific (10). Un Pac pf (4).. Un Tak Car pt (7 Utd Alloy Steel. Utd Cigar (13%) Utd Fruit (10).. US Cast Iron P. USCIPpL (7).. U S Distributing Ind Alcohol. 180% Rub 1st (8). U 8 Smelting... U 8 Steel €17)... U 8 Steel pt (7). Universal Pipe.. Univer P pt (7). Utah Copper (4) Utah Securities. Vanadium. Va-Caro Chem Va-Caro Ch pf.. Vivadou...eenes ‘Ward Baking B. % | Ward Baking pf Well Pen (4)... heel & L Erle. gh:-l &LEpf. ‘White Eagle () White Mot (4). : Hiaon & Co f. wmu-mmu ‘Wills-Over pf.., Woolworth /3). Worthington. 69% Wright Aero (1) 17% Wrigléy (*3%). 49 Yellow Cab..... 36% Youngstn S&T. 78% *0dd Iots. tPartly extra. $Payable In Dividcad rates 'ss given 1.“ --'.':f“ i 10 76% 116 C, WEDNESDAY, FEBRUARY 18, 1925. [ormew sore_ BONDS oo excasvee] | OWNTURN NOTED | AGACIA INSURANCE Receivad by Private Wire Direct te The Star Office. FOREIGN. Sales. High. Belgium 634a w Belgium 7 Belgium s a msgm—uawqpn Canada fs 1931. Canada 6s 1952 canna- sH xm. - Chinese Gov Ry 5s. Christiania 8s Czecho 85 1952 ct.. Denmark 6 Denmark 8s. . DEI5%s Nov Dutch East I 6s°47 Dutch Eaat I 6s 62 Bl Salvador 8s 48. . Finland s £ 65 1945 Framerican 7% French Ts w | French Govt 7 French Govet Germany 7s w Ger Gen Elec @ arnmws Beanm =-55 Japanese 6% Jergens U M 6: Lyons és Marsellle 6 Montevideo Netherlands 65 ‘54. Netherlandas 6s'72. Norway 6s 1943 Norway 6s 194: Poland 8 40 Queensland 7s.... Rio de Jan 38 1946. Rio de Jan Se 1947. Rio Gr Do Sul 8s.. Sao Paulo City 8s. Sao Paulo State 8s Seine Dept of 7s. Seyln Cr’tes Slo 8s. 24 Ud Steam Copen u 11 Uruguax 8 Zurich 8s MlscELLANEous. Ajax Rubber 3 3 Am Agr Chem &t Am Agr Chem T3%s 28 AmChainsf6s'33 6 Am Smit & R Am Smit &R Am. T. & T. SF 6s.166 Am T & T deb 6%s 4& o Andel 78 25% pd. Armour & Co 4% Armour of Del § Associated Ofl & Am Repub deb 6s. Bell Tel Pa. Beth Steel p: Beth Steel rf 6 Beth Steels f Brier H St 1st § Bklyn Ed gen 58 Bklyn Union @ 6s. Calif Pete 6% Central Leather 58 Chile Copper 6s... Col Gas & E1 5 Col Gs & El 5 sta. Commonwth P 6s. Con Coal Md 1st 58 Con G NY b%s wi..162 Consumers Pow §s 38 Cuba Canecv 7t°3¢ 8 Cuba Canecvdls. 3 Dugquesne Light s Est Cuba Sug 7 Emplire G&F 7%s. Feder Metls 78 '39. Fisk Rubber 8s... Francis Sug 7%s. . Gen Elec deb b3. .. Gen Refractres 6 Goodrich 6%4s. Goodyear 8s 1931.. Goodyear 35 194 Hershey 6s 1943 Humble O&R 5% linols Bell 1st b8, Illinois Steel 4%s. Indiana Steel 6s. Int Mer Marine Inter Paper 58’47, KCP & Lt b8 5!. Kan G & El 6s Kelly-Spring Lackawa | gxs; Liggett Lorillard (P) bt Lorillard (P) 7s. Manati Sug st 7%- Marland Oil 8 Midvale Steel 5 Montana Pow Mor’s&Co 1st 4* Bden :r;{u EL H&P 5 N Tel 4% N Y Tel 6 Willys-Ov 8% l’l' - UNITED STATES BONDS. , (8 re fn $1,000.) . Low. 102 22 101 23 100 27 1019 101 26 Low. 2:30. 96%: 964 964 968% 96% lgg': 102% 102% % 4% 9% 9% 99% 99% 8% 874 S 1000 1000 5 T 107% 92% 844 834 2:30. 10124 10123 100 29 High. 32 101 24 24 101 26 141 100 30 186 101 18 Lib4 4%s.. 193 101 28 U S 451944, 144 100 29 100 26 US4%s'52. 58 10429 10423 RAILROAD. Salcs. High. Low. Close. 83 83 83 89 88% 88% Bex 86% Bo% 1% 91% 8% 87% fl'l‘& 92 91% 9% 90 89% 90 101% 101 101 103% 103% 103% 108 102% 108 86% 8% B8BY% 87 87% 874 87" 117% 117% 116% 9% Lib 1st 43 Atchison adj 4s. Atchison Gen 4 Atlantic C Lcl 48 Atlan CL 43364 B&Ogold 4s.. 87% 96% 901e 100% | Ches & Ohio cy bs. ma 104 | Chi& Alton 334s.. 27 8% | CB&Q-Il13%s... 3 93 | Chi B& i 20% Q &n 45 '68. §0 99% Cni M&St P cv 4%, Chi M&St P rf 4% Chi M & St P cv by ChiM&StP 6s. Chi & W Inc cn C&EW 1535’ 62 wi. 45 Cleve Term 5s. CCC& S Lbs Colo & Sou 4%, Cuba RR bs. CubaRR7% Del-Hud cv 63 '35. Del & Hudson 5%s Den & Rio G cn 4 D & Rio G Imp bs.. 87 D & Rio G Wst bs. Erle 1st cons 4s. Eric gen ¢s Erle conv Erle conv Erfe conv 4s D Erte Genessee R 63 Erie (Paclt tr4s. Gr Trunk sf db 6s. Grand Trunk 7s... 21 105% 101% 3% 995 58% Il 111 C-C St L&NO 5s 2 Int Rap Tran 5 Int Rap Tr bs stpd. Int Rap Tran Int Rap Tran 7 Int & G Nor Ist Int & G Nor a) 6s... Iowa Cent rf 4s. .. lows Cent 1st Kan City Ft 8 Kansas City Lake Shore 4: Lake Shore 48°31.. Louls & N s B. Louls & Nash 7; 99 100% 99% Manhut Ry cn 4. Mi1 El Ry & L 58 M StP & SSM cn 48 M StP & SSM cn 68 M StP & SSM 5%, Nassau € Ry 4887 17 New Or Term 4s.. 1 NO Tex & Min bs. 29 NO Tex & M 5%, N O, Tex, Mex 6s. 0l loan| NYChi&StLEKa 8 NYC&StLésA.. 1 100w | New Hav d 48 '67..104 100 1004 89% 79 101% 101% 94% 954 96 96 101% 101% 107% 100% Norfolk & W cv Northern Pac 3s Northern Pac 4 Northern PacssD 5 97% Northern Pacr 168 26 1074 Fadj 6s. ¢t L &S F inc 6s StL&SFpleaC.. StLSW l1st 4s. . StLS W con 48°3% StE & KCSL 4%s St P Un Dep 5%s... 1080 | Ban & & Arn P s, 90ve | Seab’d A Liref ¢s.. 90v¢ | Seab'd A Ladi bs.. 4 414 | Seab'd A L con 100 | Sou Pactfic 4" 114% | Sou Pacificref ds.. 101% | Southern Ry &n és Southern Ry 1st &8 107% | Southern Ry 6s ct. 108% 99% 96% 1154 Southern Ry 6 %! Third Ave re! 105% | Thira Ave adits.. 95% | TolStL& W 95% | Union Pac 1st ‘% 995 | Union Pac 4s'37... 94% | Union Pac rf ds 109% | Union Paccv 6s... 963 | Virginia Ry st b 105 | Va Ry & P 1at bs. 101 | Wabash lst 6 % | weat Shore Western Md 4s. 106% | Western Pacificss 9 93 114 | Wisconsin Cent4s. 1 80% 80% ) SHORT-TERM SECURITIES. 93 100% % 155%| (Quotations furniabed by Redmond & Co.) 102 97% | Aluminum Co. o! Am!r 100% | American Sugar 6s 108% | ATSTRY Sopper au i 108 109% Anglo Amel’kl;ol!“'l%l “19250 1 n 3. 7 of Lions a lfli Gontinental Gas Wilson & Co 1st 6 10 ; Wilson & Co cv 6s. Wilson&C cv 7% Winchester A 7%s 6 wm 101% 9 98k Youngstn S&T 6s. o1 . —_— Birmingham, produce the largest variety of manu- Western Union England, is° said to| Westinghouse E. Fisher Body Cor factured goods ef any city im the world.- - FINANCIAL INWHEAT PRICES Weak Liverpool Mérket and Slow Export Demand Lead- ing Factors. By the Assoclated Press. CHICAGO, February 18.—Wheat made an early downturn in price today owing more or less to the fact that Liverpool quotations were, unresponsive to vesterday's late ad- vance on this side of the Atlantic. Assertions that the 1925 Russian harvest threatens to be a faflure were given considerable attention, but were offset by reports that some con- tinental European countries were selling back cargoes which had been purchased. Meanwhile, no important new export demand for United States wheat was In evidence. The opening, which ranged from half to 13 lower, May 1.83% to 1.84 and July. 154%, was followed by a moderate further setback and then by rallies which, however, proved transient. Corn showed a good deal of strength at times. Talk was current that 50 per cent of seed corn is worthless. After opening at % to % decline, May 1.27%, tne market cored temporary gains of about 1 cent. Oats were easier, sympathizing with wheat. The start varfed from % de- cline to 3 advance, May 53% to 53%, and the market continued to average lower. In line with hog values, the provi- ison market sagged. nflgn 1561 Close. Low. 182K L8 COTTON QUOTATIONS ACTIVELY HIGHER Spot Reports, New Crop Status and ' Weevil Rumors Aid Rise. By the Associated Press NEW YORK, February 18.—The cotton market was active at the open- ing today with business more general owing to firm Liverpool cables, con- tinued reports of a strong spot itua- tion in the South, and new crop un- certainties as emphasized by contin- ued dry weather in the Southwest and vesterday's late rumors of a heavy survival of boll weevil. The opening was firm at an ad- vance of 11 to 14 points. Active months soon®showed net gains of 14 to 21 points, selling at 24.96 and October at 25.15, or into new high ground for the movement. These prices attracted heavy realizing, but it was absorbed on moderate setbacks and the market was firm at the end of the first hour. New Orleans Quotations. NEW ORLEANS, February 18.—The cotton market opened fairly because Liverpool came in much bet- ter than due, inducing considerable covering and trade buying. First trades showed gains of 4 to 11 points. As the weather map showed no rain in the West and no immedlate pros- pects the market continued to im- prove after the opening call. May traded up to 24.95; July, to 25.23, and October, to 24.87 or 12 to 13 points above the previous close. SHIPYARDS BUSIER. Repair Work Proving Great Help to Business Revival. Bpecial Dispatch to The Star. BALTIMORE, February 18.—The shipbullding industry in the Balti- more district shows decided improve- ment compared with 60 days ago. This is particularly true of repair work, which fs making steady strides. New construction work continues quiet, but the outlook in this direction is more favorable owing to the de- cision of several companies to build new steamers. The indications are that there will be lively bidding among builders for the contract for two vessels to be awarded next month by the Merchants and Miners' Trans- portation Company. OIL RECEIPTS HEAVY. Baltimore Reports Arrival of 11 Tankers During Week. Special Dispatch to The Star. BALTIMORE, February 18.—Re- ceipts of oil products last week were high in comparison with the previous week. Eleven tankers ecame in with 622,000 barrels of crude oil. Mexico sent 277,000, California, 181,000, and Texas, 154,000, Loulsiana delivered 35,000 barrels of gasoline and 752,271 gallons of gas oil came from Phila- delphla. _Sugar imports for the week totaled 127,820 bags, of which 35,683 bags were from the Philippines. The balance came from Cuba. = DIVIDENDS. Stock of Period. Rate. Payable. Becord, 75c Mar, 8 rporatl e Mar. 14 Borr.Add. Mach. @ BERaa0sBREER seand. ou or Tovopal M B harlog & GERMAN BONDS AND STOCKS. (Quoted in dollars per mllllo; marks.) 5.00 15.25 650 Rakal BEELH 25wl strong, | ® REPORTS BIG YEAR Assets Now Total $12,265,- 815—“Merg” Jumps Five Points. BY CHAS. P. SHAEFFER. The Acacla Mutual Life Associ- ation today reported a gain of $2,948 008 in assets, $2,635,145 in reserve and $277,063 in surplus for the year ending December ‘31, 1924, as com pared with the previous 12 months’ period. Total assets are now $12.- 365,815, surplus $1,248,501 and re- serve $10,734,391. Insurance in force on December last, amounted to $174,625,300, rep: senting a gain of $22,434,600. Assets of the cdfyany Include approximately $6,500,000 in first mortgages on im- proved real estate, bonds aggregating 31,636,251 and cash to the amount of $603,571. The Acacfa is esentially local in its origin. Tts hoard is made up mainly of local men, but it is operat- ing in 35 States. The board is comprised of the fol lowing: President, William Mont- gomery; T. J. Adams, W. L. Andrews, Gharles E. Baldwin, Arthur Carr, €. C. Coombs, Paul B. Cromelin K. Cowden, J. Harry George W. Evans, William T. Hammock, Jarrell, A." W. Johnston Keiper, John T. Mea Marks, Joseph F. Mila ols, D.; John Poole, Roberts, John V. Sees, L. Lugene E. Thompson, Winston and J. P. Yort Linotype Jumps Five Points. Mergenthaler Linotype today soared 5 points to 1761 on the favorable and unexpected extra dividend aotfon voted at the regular meeting of direc- tors in New York yesterd: issue opened at 176%, the day's thereafter easing off to 176% 1761%. Only 30 shares were sold. Washington Gas Light stock easier, selling off to 573, while Cap. ital Traction declined an eighth point on the day to 92. National Mortgage and Investment preferred was heavily traded in at 9%. Charles P. Steuart Francis D Bankers to Name Resort. The selection of a resort for the 1925 convention of the District Bank ers’ Association will probably be made late this afternoon, when the counci of administration of the bankers’ body meets with W. J. Waller, chairman of the general convention committee. Mr. Waller has at his disposal ex- tenslve data on the four resorts being considered —namely, Hot Springs, White Sulphur Springs, Spring Lake, N. J., and Asheville, N. C. While the council is vested with authority to make its own selection of the site, Victor B. Devber, presi- dent of the assoclation, sald this morning a special meeting of the association would be held to have member banks approve the counci selection simply as matter of courtesy. North American’s Earnings. Net earnings of the North Amer can Company for 1924 iwere in excess of $18,000,000 after all charges, but before reserves for against $16.253,45¢ for 1 ing to a preliminary estim 1923 depreciation reserves were al- most $7,000,000, which would indi- cate the net for 1924, after deprecia- tion, will be more than $10,000,000. Electric generating_capacity was increased from 748415 k.w. to § 965 k.w. and the electric output In- creased from 2153,614363 k.w.h. to 2,328,618,141 k.w.h., with an increase of more than 46,000 in electrical con- umers The substantially greater increases in electric output now being e perienced indicates 1925 will be a record year. a Join Telephone Board. Alexander Britton and Edwin C Graham yesterday were added to the ‘board of the Chesapeake and Poto- mac Telephone Co. at the annual meeting of stockholders. The former is one of the prominent lawyers of the city, is identified with business and banking institutjons, and is president of the Chevy Chase Club. Mr. Graham is president of the Na- tional Electrical Supply Co., is a member of the Federal erve BRoard for this district, and is also a bank director as well as a leader in civic activities. Other Washington members of the board who were re-elected are Charles J. Bell, president of the American Security and Trust Co.: John Poole, president of the Federal-American Natlonal Bank and Albert E. Rerry, president of the company. The non- resident members of the board are Walter S. Gifford, president of the American Telephone and Telegraph co., and Eugene S. Wilson, vice presi- dent of the same company. With the board as now organized, five of the seven members are local men. Mergenthaler Votes “Extra.” Directors of the Mergenthaler Lino- type Corporation yesterday declared an extra dividend of 1% per cent in addition to the regular disburse- ment of 21 per cent, both payable on March 31 to stockholders of rec- ord March 4. The typesetter is on a definite divi- dend basis of 10 per cent and yes- terday's ‘“extra” action marks the first recurrence along this line for many years. The company Is capital- ized at §$12.800,000. Two Washington business men hold seats on the board, these being Ed ward J. McQuade, vice president of the Liberty National Bank, and Fred- eric D. McKenney. Board Insue Quickly Sold. Subscription books to” the $2.100.- 000 of Philadelphia Suburban Gas and Electric Co. first mortgage 5% per cent gold bonds closed an hour after opening, Stroud, Kurtz & Co. who participated in the syndicate, an- nounced this morning. The bonds were sold at 98 to yield 5.64 per cent. Record Freight Movement. A record movement of freight for this season of the year in virtually all commodities was reported today by the American Rallway Association. The total of 928,244 cars of revenue freight loaded in the week ended February 7, the figures of the associa- tion showed, was an increase of 32.- 180 cars above the figure for the preceding week and of 22,227 cars over the number for the correspond- ing week of 1924. During the first week of February, only two classes of freight—live stock and coke—and only one district—the Central Western—showed decreases in loading from the totals of the pre- vious week. An increase of 8.4 per cent in rey- enue freight loadings during the first six weeks of 1925 as compared with the same period last- year was also reported. THe 1925 loadings for the period agsregated 5,379,237 cars, an increase of 178,950 over the 1924 total. -~ NEWS PRINT OUTPUT. NEW YORK, February 183—News print production in the United States in January declined to 128,784 tons, RSS! BAEE = 5 - 888583225k382383 Lo LR + 88888 LANF £33 compared with 130,435 tons in Janu- ary, 1924, Shipments increased to 126,639 tons against 124,885 The Canadian output of 121,420 tons was 10,891 more than January last year. Shipments also increased 13,429 tons to 123,049,