Evening Star Newspaper, March 4, 1925, Page 28

THE EVENING STAR, WASHINGTON, D. ¢., WEDNESDAY, 'MARCH 1925. AP S N EXCHANGE} | FINANC I Stock Sales Total IAL. COOLIDGE SPEECH \ EXCHANGE OPPOSES - STARTS STOCK RISE President’s Message Greeted With Kenewed Upswing in Wall Street. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, March 4.—Wall street gave most of its attention today to the proceedings at Washington thoughts were uppermost in the financial district. One was that the old Congress had adjourned and that the new Congress which would come together in December would be con- stituted along lines much more pleas- ing from the conservative business standpoint The other thought was that the President's inaugural address was distinctly encouraging, that in a gen- | eral way it fitted in with the notion which has been inspiring the security market for the last four months— | namely, that for four years ahead business did not need to fear any check from the center of government. Rall Shares Respond. The market Yor several d looked for the presidential address to be particulariy cheering to holders of and when the rails which made After a period of profit-taking early in the day they started forward under the lead of Baltimore and Ohio, Reading and Le- high Valley. Some of the oil shares were very strong, but this was be- cause of developments in connection with individual properties rather than because of anything new happening in the oil situation as a whole. The oil group generally did nothing espe- cially noteworthy on the day. Special Issues Strong. As the afternoon went on, buying in speclal issues was vigorously re- sumed. Prominent among these was American Car and Foundry, which, as a large holder of American Locomo- tive, will be in a position to declare a larger dividend on its new stock, | provided American Locomotive dos the expected and Increases the distri- bution on its own shares. Ludlum Stee] was taken up again, and so was | Goodrich, the strength in the latter| communicating itself to some of the | other rubber shares. Some store was | set by the reduction in the rate on standing call loans from 4% to 4% per cent. Little Worry Over Money. This did not undo recent evidence of a hardening tendency in the money market, but it did establish the fact that the money situation, following | the increase in the New York Federal Reserve rediscount rate, was not at erious and, for the present at was not likely to prove a check | upon speculative activities. The foreign exchanges were high all around, fof no reason apparently, however, except that recent opera- tions had resulted in the creation of a short interest which was ready to | cover after nearly a week of decline. | Some light was thrown upon the im- | proved European buying power by | the detailed figures on the January | foreign trade. These showed, as com- | pared with the month last year, an | increase in exports to Europe of $67,000,000, where imports increased only $15,000,000. Crisis in Iron Trade. The Iron Trade Reviews of the mid- week suggested that the critical test as now at hand as to whether buy- ers, having pretty well run out on their low-priced contracts, will agree | to pay higher prices which the steel mills are attempting to exact for the second three months. No precise in- formation is vouchsafed as yet on this point. The attitude of consumers is de- scribed simply as “exceedingly cau- tious,” at the same time that in some | such as automobiles, “strong pressure is being exerted to break prices.” This outworking of the steel situation promises to be one of the most interesting developments in the | trade conditions of the next few months. was the readiest response. Radio Stocks Active. Radio Torporation stock was active at higher prices, taking cognizance of the earning possibilities as indicated by the latest reports of gross busi- ness. This is running at the rate of between $75,000,009 and $100,000,000 a year. The Street has been making highly optimistic predictions regard- ing net profits. More light was thrown on the re- cent strength in Hudson Motor by the announcement ftom Detroit to- day that the company’s first fiscal quarter's shipments exceeded 45,000 cars. Figuring on the basis of the 1924 net per unit rate of $60, it is estimated that theso shipments mean profits of more than $2 a share for the three months. March shipments are expected to total 19,000 cars, as against 17,000 in February, The action of Cosden & Co. stock has given little encouragement to the anticipation of favorable dividend ac- tion, which some people in Wall street now have. MARKET CLOSES UNSTEADY. Volume of Trading Much Smaller in Last Hour. By the Associuted Press.. NEW YORK, March 4—Today's stock market was unable to support the large volume of realizing sales and bear selling except at conces- sions in quoted values until after the publication of President Coolidge’s ‘naugural message, which was fol- lowed by a temporary rally. Total sales approximated 1,600,000 shares. The closing was irregular. .Price movements became uneven in the late trading, with the volume of business slackening perceptibly. Low-priced vils, equipment and Remington Type- writer were marked up briskly, but several _specialties turned weak, United States Cast Iron Pipe drop- ping 8 points and Savgge Arms 4. Markets at a Glance NEW YORK — Stocks rquipments _at new highs. Bonds ateady; St. Paul issues recover. For- eign exchanges firm; French francs score moderate rally. Cotton gener- ally lower; easy spot markets. Sugar easy; hedge selling. Coffee lower; commission house selling. CHICAGO — Wheat weak; lower Liverpool cables. Corn lower; unsat- {sfactory cash situation. Cattle steady to strong. Hogs active and higher. frregular; STEEL PLANTS RUSHED. ! NEW YORK, March 4.—Subsidiaries »f the United States Steel Corporation wre reported to be operating at an average close to 95 per cent of ca- pacity, an increase of 2 per cent sver a week ago. This is 1 per cent under the high average this year, which was reached two weeks ago. NET EARNINGS DECLINE. NEW YORK, March 4.—Net earn- ings of the American Cigar Co. in 1934 declined - to $1,682,899, equal fter preferred dividends to 36.83 a Two | | Bal & Ohio (8).. | Bethiehem Steel | @lidden Co. Open. High. 66 66 100% 100% 50% B5O% 106% 106% 18 18% 1% 1% 91 91 78 8% 19% Abitibl Pow (4). Adams Exp (8). Ad Rumly pf (3) Alr Reduct (15). Ajax Rubber. Alaska Juneau.. Alled Chem (4). ALis Chalm (4). Am Agricul Chm Am Ag Chm pf.. Am Beet Sug (4) Am Beet S pf (6) Am Bosch. Am Brk Sh, Am Can (18).... Am Car & F (12) AmC& Fpt (7). rug (60c) Am Express (3). Am & For Pow.. Am & Fr P pi(T) Am & F P 25% (T Am Hide & Les. Am Hide & L pf. Am Ice (7) 5 Am Internatl. Am Linseed. Am Linseed pf. Am Locomo (6). Am Metal (3). Am Radfacor (4) Am Ry Exp (6). Am Ship & Com. Am Sm & Ref (6) AmS & Rpf (7). Am Stl Fdys (3) Am Stl Fy pf (1) Am Sugar. .. Am Sugar pt () Am Sumatra. ... AmT & Tel (9). Am Tobacco (7). Am Tobac B (7). Am WW&EI 30c. Am W W pt (6). Am Woolen Am Wool ptd (7) AmZine-....... Am Zinc pt Anaconda (75¢). Ann Arbor . Archer-Dan! Arn Cons & Co. Asso Dry G (5).. Asso OIl (1%)... AtT & S Fe (1) AT&SFpt (5). Al Birm & At... Atl Coast L (19). AtGuif& WI... At Gulf & W I pt Atlantic Reflinin Atlas Tack Austin-Nichola. | Austin Nic pf () 92% 2% 9% 6474 48% 29% 22% 431 684 47% Baldwin L (7).. Bal & Oh pf (4). Barnet Leather. Barnsdall A.. Barnsdall B Bayuk Cigar Beech-Nut (3) Beth Stl pf (8) Briges Mfg(3%) 38% British Empire. Bkl Edison (8).. Bri-Man Tran Bklyn Man pf ( 8rklyn Un G (4) Brown Shoe (4). Brunswick-Blke Bur Add Ma (3). Bush Term (5).. Butte & Superior Butterick Co.... Caddo Centra. Cal Pete (1%) Calif Pet pf (7). Callahan Zine. .. Calu & Ariz (2). Calumet & H (1) Can Pactfic (10). Cent Leather.. Cent Leather pf. Century Rib (2) Cero d Pasco (4) Certain-Teed. Certain-T 1st (7). Chand Mot (3).. Ches & Ohlo 4). Ches & O pt (6% Chic & Alton pf. Chi & E Il pt. Chic Gr West. Chic Gr West pf. Chi Mil &St P... Chi Mil & S P pt. Chi & Nwn (4) Chi & Nw pt (7). ChiR1& Pac... CRI&F Dt (6). CRI&PDL (7). Chite Cop (2%). Coca-Cola (7)... Colo Fuel & Iron Colo Southern ColG&E (2 Col G & E pf (7). Col Carbon (4) Com Solv A (4). Com Solv B.. Congol-Nairn (3 Conley Foil (st). Con Distributrs. Consol Gas (5) Cont Can (4).... Cont Mot (800).. Corn Prod (2). Cosden Co. .. Crucible Stl (4). Cub Am Sug (3). Cuban Cane Sug Cu Cane Su pt. Cuba Dominican Cuban Dom pf. Cuyamel Fr (). Dantel Boone. Davison Chem De Beers (88¢).. Del & Hud (9. D&RGWstpf.. Detroit Ed (8) Doug Pectin (1). Dupont (10).... DuPont deb (6). Duguesna of (1) Durham Hose. Eastman (18)... baton Axle. . Eieo St Bat (15). End-John (6)... Eriy Erie 18t of . B Exchangs Bf (2) Fairbks (2.60) Famous Pl (8) Famous pf (8). Fed Lt & T (*7). Federal Mines. . Fed Mines pf (7) Fifth Ave (64c) Fisher Body (5). Fish Bd O pt (8) ¥isk Rubber.... Fiek R 1st (1)... Fleischmann (4) Foundation (6). Foundation Its.. Freeport-Texas. rdner Motor.. g:n Am Tnk (3) Gen ATC pf (1) Gen Asphalt Gen Clgar (8). Gen Electric (8) Gen El spl (60¢) Gen Motors (6). Gen Mot pf (1).. Gen Petrol (2) Gen Refrac (2).. Gimbel Bros Ginter Co (1 16% b1l 93 57% . 100 260% 1% 6% 107% 56% 53% 50 24% 16% 87 t. Gold Dus % Goodrich. 3 Goodrich of (1) :;: oodyear Df... . ST Prior () 106W 106% Granby Consol.. 19 19 Grt North ot 70 0% Grt Nor Ora (4). 38% 38% Gri Watn Su (3) 98% ° 98% Gt West 8 pf(7) 110% 110% Gulf Mo & Nor.. 26 26 Gu Mo &Npf63 93 93 Gult 8t Steel (5) 8§04 90 Hanna 1st (7)... 83 88 Hartman (§2.50) 81% 31% share on the common stock, comparéd with $1,724,7dy or $749 a share, in 1923, Hayes Wheel (3) 874 87% Hayes W pt (7% 102 102 quotations in time for the rei Low 66 100% 5% 106 12% 1% 88% 754 C19% 51 41 8% 38% 100 178% 215 124% 24% 6 152 82 92% 123 12% 3 8% 36% 26% 634 139% 9% 9% 81% 13 100 109 52% 10% 66% 100% 16% 134% 87% 3% 128 41 804 | 9% 73 41 80 92 Because of the abnormal volume of trad | Stock Exchange at present, it is impossible to get complete closing lar edition of The Star. Final and come || 5130 edition, Onen. High. 73% 784 48 48 44% 4% 8b% 86% 9% 80% 24% 244 65% 66% 444 4% 16% 16% 117% 118% 30% 81% 8% 9 46 46 107% 107% 20% 29% 11% 11% 120 120% 65% b5% 42 43% 106% 107% 12 12 4T 4TH 26% ‘27 65 B5% 3% T3% 19 19% 98% 93% % 4 20% 20% 18% 18% 57% 57T% % 5% 39% 39% 16 b1 48% Baw 37 Helme Geo H. .. Hoe & Co A (4). Homestake (17) Househ P (13%) Houston O1l. Hudson Man Hud Man pf . Hudson Mot (3). Hupp Mot (1)... Illinols Cent (7) Independ Ol (1) Indian Refining. Inland Stl (2%). Inland Sti pt (7) Interb Rap Tr. Internat Agri... Int Bus Maoc (8). Int Cement (4). Int Com Eng (2) Internat Har (5) Int Mer Martne. Int Mer Mar pf.. Internat Nickel. [nternat-Paper. Int Pap pf st (6) Int Ry Cent Am. Int Tel & Tel (6) Int Tel & Tel rts Jewel Tea Jones Bros Jordon Mot (3). Kansas & Gulf.. Kelly Spring 1st Kelly Spring pf. Kennecott (3).. Kresge Dep Str. Laclede Gas (8). Lehigh Val (3% Lig & My B (14). Lig & Myrs rgts Lima Loca (4) Loews Ino (2) Loft. - Long Bell A (1) Loose-Wiles Bis Lorrillard (3) CLoulsiana OIl... Louls & Nash (8 Ludlum (2)..... 61 84 70% 23% % 48 88 35% 21% 115% 1 Mclntyre (1) 17% Maci Trucks Mack T 1st (7).. Macy HR & Co. Magma Copper. Mallinson & Co. Mallinson pf (7) Man E! Sup (4). Man El md g (5) Man Shirt (13%). Maracaibo Ofl Market Street. . Marland Ofl. Martin-Parry 4. Martin-Par rt Mathieson Alk: Maxwell Mot A.. Maxwell Mot B May Dept 8t (5). Metro Ed pf ( Mexican Seab. | Miami Cop (3).. Middle State: Minn & St Lot | Mis Kan & Tex. MK & T pt (5).. Missouri Paclfic Missouri{ Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3) Mother Lode 760 | Murray Body... Nat Acme (sta). t Biscult (14) | Nat Cloak & Sut Nat Dairy (3).. | Nat Dept Stores Nat Distillers pt Nat Enamel & S | Nat Lead (8). Nat Lead pf (7). Nat Ry Mex 1st. Nat Supply (3).. | Nat Sup pt (7). | Nevada Copper NOT&M t23%.. I NY Alr Br (4).. 106% 8 1z 15% €54 | 69% | 324 424 17% | 25 99 106% 138 20% 57 13% 66% 106 12% 88 79 108% | i 9% 4% b1% 98 55 101 246 1% 3% 107% 56 63% 49% 24% 16% 317 8% 98 99%% 106% 18% 694 38 9% 110% 26 92% 89 87% 81% 37% 102 N Y Canners (2) N Y Central (7). NYCStL (8) NYC&StL pf ( NYDock....... N Y Dock pf (8). | NY NH & Hart.. N Y O & Wst (1) Norf & W (18).. Norf & W pf (4). North Am (3.40) North Am pf (3) North Pac (5) Nunnally (1)... Onyx Hoslery... Orpheum (1.80). Otis Elev (15%) Otis Steel. .. Owens Bot (3).. Pacific Gas (8).. Pacific Ofi (2) Packard (1.50). Packard pt (7). Pan-Amer (6). Pan-Amer B (6). Panhandle pf. Penna C & Coke. Pennsy RR (3). Penn Seab Steel. Peoples Gas (8). Pere Mar pf (5). Pere M prior (5) PhilaCo (4).... Pula&RC&I. Phillip Morris Phillips Pet (2). Plerce-Arrow.. Pierce-Arrow pt Pierce A prior 8. Plerce Oll. Pierce Oll pt Pierce Petrol. .. Pitts Coal Pitt F W& : Pitts Term Coal. Pitts Term'l (7). Pius & West Va Postum-Cer (4) Prens Steel Car. Prst Carpf (D). Prod & Refiners Pub Ser N J (5). Pub Serv rts (n) Pub S NJ pt (7). Pulimaz Co (8). Punta AJ &u (5). Pure Oil 1%). Pure Ol t (8).. Radlo Corp of A Radlo-C pf (3%) RSINCefs (4). Ry Stl Spg (8).. Ray Cons Cop Reading (4) Reading rts Remington Type Replogle Steel.. Rep Ir & Steel... Rep I &Spt (). Reynolds Sp (1) Rey Tob B (3)... Roy Duth 4.42% 19 107% 824 83% 60 184 4T% 24 115% 13% 80 B4y 47% 14 44 13 49% 90% 2% 36% T 52 140% 55 84 0% 104% 69 86 20% 70 Y% 102 141% 44% 3l 110% % 51% 72 135 15% 8% 22% 62m 19 bat 91 15% 76% 5% 3% 3% 84 53% 108 ue 24% 42% 161 48% 26% T 244 22 89% St Josepn 14 (2) St L & San B (5) StLSanF pt (8). St L Southwest. Savage Arma... Schulte (8)..... Seaboard Alr L. Seabd Alr Lipf.. Sears-Roebk (6) Shell Trad (2.06) Shell Un (1.40) . Simmon Co (2).. Simms Pet (69¢) Sinclair Ol Sinclair pf (8). Skelly Ofl.....o 29 Sloss-Sheft (6).. 94 South Por pf (8) 108 South Pac (6).. 105% Southern Ry (B) 91k South l;yx Pt (5). r MIR. ..o s & Ei (1) 6% Std Gas & Elptd £3 St Ofi Calif (2).. 63% 63% StOUNJ (1)... 44% 44% StOINJpt ( Std Plate Glass. 13 13 144 Low. 3% 48 4% 86% 8% 24 65% 2% 16% 17% 304 8% 45% 07% 20% 10% 18% 55% 41% 06 12 46 26% Ba4w 3% 19 3% 4 20% 18% 56 bl 37% 15% 51 48% 53 37 7% 69% S 694 28% % 4T% 87 34% 20% 118% 48% 17% 137% 108% 42% % 668 8444 47% 27 34% 26% 128% 78 48 48% 69% 10 22 28% 9% 0% 6% 107 61% 188 107% 80% 81w 60 18 47 24 115% 8% 80 54% 47 14 43% 12% 48% 89% 2% 6% % 61 140% 55 84 70 104% 59 86 20% 69% % Y% 102 140% a4 31 110% 63% 51% 72 134 ' 16% 7% 21% 62 18% B34 " a1 14 % 4% 43 1% 84 52% 99 112 23% 23% | Weston Close. 3% 48 444 8E% 79 24 66% 43 18% 118% 31% 9 46 107% 20% 10% 119 554 43 107% 12 46 27 B4U 78% 19 98% 4 20% 18% b6 5 B’% 16% 51 481 63 87 144 7% 60 8% 70 28% T 4% 87 34% 21 114 49 1% 137% 108% 5 40 29 824 50% 50 26% 31 T4 424 83% " i 66% 84% 47% 108 100 15% 15% 1% Sty 38 R4 89% 9% 46% 107 61% 185 107% 824% 82% 60 18 47 214 116 3% £0 fidss 47 14 44% 12% 484 89% 2% 86% 7% 51 140% b5 84 70 104% 59 86 29% 694 % 102 140% 444 31 110% 63% A% 12 134 15% T9% 21% 6564 19% 83% 91 14 % 6% 43 1% 84 52% 99 1z NEw YORK stock EXCHANGE | |BOND BUYERSWAIT Recelved by Private Wire Direct to The Star Office MOVE IN STOCKS Narrow and Irregular Fluctu- ations Show Slight Up- ward Tendency. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW , YORK, March 4.—Activity in high-grade investment issues was con- fined today, as on Tuesday, to & few se- lected bonds - Confident buying went on in St Louis-San Francisco prior lien “IA” 4s on the theory that they were be- hind the market for bonds of equal se- curity and earning power. Libertys Irregular. Another large block of Colorado Southern first 4s changed hands at 98% on a 4.40 per cent basis, but this is @ short-term obligation in demand by banks and financial institutions. Elsewhere in the list the effect of firmer money was seen in an easier tendency in bond quotations. Lib- ertys were irregular, the new Treas- ury 4s being the heaviest, while typical rallway bonds, such as Atchi- son General 4s, OFegon-Washington 4s, dropped back fractionally. The feature of the tractions was Chicago Rallways &s, which at 83 were up a point from Tuesday's close and at a new high on the movement. The more favorable political outlook was given as the reason. Skelly Leads Ofl Liens. Skelly Oil 6%s were the leaders among the convertible ol issues. In the industrials there was a better de- mand for the junior bonds of Wilson & Co. International Mercantile Ma- rine 6s, on the other hand, lagged be- low 90, In the foreign group slightly high- er prices were recorded for some of the South American bonds, notably Bolivia 8s. Both German and French bonds dragged at the lows of the week. The one exception was the Czechoslovak 8s, which rallied to par. Several new Japanese utility Issues are reported in preparation for offer- ing shortly. o e tagiae vy SEEKS TO ABANDON CAR LINE TO LAUREL Company Would Substitute Busses to Hyattsville and Then Give Transfers. Special Dispateh to The Star. BALTIMORE, March 4.—The City and Suburban Railway Company of Washington has asked permission of abandon its interurban line between Laurel and Washington. It is understood the line has been operated at a loss, although the rall- way company did not say so It asked permission to institute mo- tor bus service to Hyattsville, where passengers would be transferred to cars of the Washington Interurban Railroad Company. ‘It is believed the bus service will be more satisfactory and economical, the petition said. It was turned over to the commission’s engineering depart- ment. 200 UTILITY CONCERNS CHANGE HANDS IN YEAR Companies Serving 4,000,000 Peo- ple Figure in Various Deal By the Associated Press. NEW YORK. March 4.—DMore thas 200 public utility companies changed hands last year, establishing a high record in the sale of electric light and power companies, according to a compilation made by F. O. March. The total estimated value of these companies is in excess of half a bil- lon dollars and the population serv- ed nearly 4,000,000. They ranged in size from the Fillmore Light & Power Co. in Fillmore, Ind., with a popula- tion of 100, to the lll(no{s Power and Light and the Missourl Power and Light Companies, serving more than 1,250,000 persons. —_— Stew Warner (5§ 70% 70% 6 Studebaker (4). 454 42:: 42“ i Submarine Boat 10% 10% 10% 10% SuperiorOll.... 8% b% 65 5 Swests (new)... 8% 9W 9% 9% Symington..... 16% 15% 154 15% Symington ). W’ 224 21% 22 Telautograph.. 18% 13% 13% 131 Tennessee Coppr 81 8% 8 81 TexasCo (3).... 48 48 47% 471, Tex G Sul ($7%) 111 111 107% 107% Tex&Pacific... 56 56 bAW 545 Tex&PacC&0 21% 21% 204 204 Tide Wat Oll () 148 148 1464 146% Timken (13% 42% 42% 41% 4l%n Tobac Prod (6). 80 80% 79 79 Tobac Prod A (7 98% 98% 98% w8y Bl S80S g 644 Transcont Ofl Twin City (4) 64% 64% 6445 % % Yo snlon gfl S od njon Ofl (1.80). 41% 403 Un Pacific (10). 150 u‘am e Un Tank Car (5) 125 124% Un Tak Car pf (7 115% 116% Utd Alloy Steel. 364 34 Utd Cigar (13%) 80% 774 Utd Drug 18t 3% 52% 521 Utd Fruit (10).. 215% 215 U 8 Cast Iron P. 241% 230 U S Distributing 841 331 U S Hoff (50c). . 28% 23% 854 82% U 8 Ind Alcohol. U B Realty (3).. 128% 128% 126 42 42% 41y U 8 Rubber. USRublst (8). 96% 96% 95 USSmelting... 35 85 34y u 45% 4Bl 45y 88m pf (3% U SSteel (17)... 124% 124% 123 U 8 Steel p* (7). 128% 123% 128y U S Tobacco (3). 52k 52y Universal Pipe.. 44% 4474 Univer P pf (7). ¥6% S6% Utah Copper (4) 88% 884y Utah Securities. 52 541 284 294 Vanadium. Va-Caro Chem.. 2W 25 Va-Carctfs.... 1% 18 Va-CaroChpf.. 1L 11 Caro Chem % 1% VaRy&Power. 82 82 124 12% 26% 25% 65 €6% 444 a4y 8% 99 109 109 154 16% % 414 149% 1244 115% 34% 9% 52% 215% 241% 34 23% 86% 36 52% ‘Ward Baking B. ward Bak pf (1) West Pen (4).... w West Pac Dt (6). ‘West Union (7). West Alr Br (6). ‘Westinghse (4). 40% 40% | Wheel & L Erfe. 156% 166% wmllb‘b‘. 434 48% | White Eagle (2) 26% 26% | White Mot (4).. 84K 343 | Wickwire Spenc 22% 22% [ Wilson & 224 - 2244 | Wilson 89% 89y | Wilson ctfs 28% 93 108 105 89% 89y | Worthington A 20 18 46% 45% | ¥ellow Cab. 29% 93 108 s 20 185 & Co.p . Willys-Overlan¢ Wills-Over .. Wooiworth 131, 11% P 1% 116% 1154 g 6944 864 20 49% 87 4% 116% 1% 861 20% 49% 37 4% $Payable Wright Aero (1) Wrigley (*3%). Youngstn S&T. {Partly extra. 44% 443% | Di raten as given | 13 13 Sterling Prd5% 64 64 64 ¢4 117% T17% 117% 1173 | Are the latest quarte Sidends ~vew vore BONDS [ owrew voux TREH Receilved by Private Wire Direct to The Star Office. FOREIGN. , Sales. High. Low. Argentine 6e A. Argentine 6s B... Argentine 7 Austria 7s Bank of Japa; 7 Belgium s wi. 31 Belglum §%ewi.. 8 Belglum 7% Belgium 8 Bolivi, Bordeaux Brazil 7g. razil s nada 12 Canada bs 1931, Capada 6s 1952, Canada 638 19; Chile 75 19432, Chile 8x 1941 Chile 33 194 Chinese Gov Ry ts 1 Copenhagen 5145. . Cuba 6%s Czecho 88 1951. .. Czecho 851952 ct.. 4 Danish Munic8s A 2 Dznish Munic 88 B 3 Denmark Denmark 8s.... . 7 DEIb5%s “ch'53. 19 DEI6%sNov'53. 19 Dutch East ) 63'47 3 Dutch Zast16s'62 6 El Salvador 8s 48.. 30 Framerican T%s.. 2 French Tswi.....111 French Govt 7%s. 20 French Govet 8s.. 32 Germany Ts wi. .. 149 Ger Gen Elec 7s.. 10 Greek 7s w 1. 1 Halt! 6 1 Hungary 63 4 Japanese 48 10 Japanasa 6% a2 Tergens U M 63 Lyons 6s.. Marsellle Mexlico 6s. Monteviden 7s. Netherlands 6854 Netherlands 6s '72 Norway 6s 1943. .. Norway 6 1944. .. Norway 6s 1952. 67 271 1 — .4 Be3Bualule melEe e HBEawwe Paris Orleans % Prague 7% Queensland 6s Queensland 7s Havema et Sao Paulo Clty 8s. Sao Paulo State 8s Seine Dept of 78 Serbs Cr'tes Slo 8. Sweden 638 ut. Sweden 6s. . Swins 5%s 19 Swiss Confed Tokio Be. .. Ud Kingm 5%s3°29. Ud Kingm §%s 37, Ud Steam Copen 68 Uruguay 8a MISCEL Afax Rubberss... 1 Am Agr Chem 5s.. 1 Am Agr Chem T3e 27 Am Chatas £ 6s°33 16 Am Cotton Ofl 1 Am Repub deb 68 Am Smit & R 1st &8 AmSmlt &R 6s... Am Sug ref 6s AmT & Tel tr ds. Am T&T cl tr 5. . AmT&Tst . Am T & T deb 548 AmT& Tecv 6a Am Water Wk 58 Am Writ Paper 63 Anaconda 1st 6s Anaconda cv db 78 Andes s 25% pd Armour & Co 4% Armour of Del 5% Associated Oil 6s Atlantic Refin 5 Bell Tel Pa 8 Seth Steel 5% Beth Steel s f 6 Brier H St 1st 6%8 Bklyn Ed gen §s.. Calif Pote 638 Central Leather 6s Chile Copper Col Gas & EI 5 Commonwth P és. Con G NY 5%8 W Con Coal Md 1st 68 Consum Pow bs Cuba Cane cv 7t '3 Cuba Cane cv d 88 Cuban-Am Sug 8s. Denver Gas 58 Det Edison b Det Elison ref Donner Steel 7 Du Pont de N 7 Duquesne Light 6s Est Cuba Sug 7%s Empire GAF %8, Fisk Rubber Francis Sug 7 Gen Elec deb & Goodrich 8% Goodyear 8 % Goodyenr 8s 1941. Hershey 63 1542 Humble O&R 6%s. iliinots Bell 1st bs. Ilinols Steel 4%3. Indiana Steel bs. int Mer Marin Inter Paper 58 '47. KCP & Lt 68 A '53. Kan G & El 68'53. Kelly-Spring Lackawa S 63 '50.. Liggett & Myrs 68 Liggett & Myrs Ts. Lorillard (P) b Magma Cop cv T Manat! zsf T%s Marland Oil 88 ‘31, didvalo Steel be- ntana Pow 6s.. Nor'aECo 1at 4%8 New Eng Tel bs... N Y Eden 1st § NYG EL H&P 4s.. N Y Tel 6s 41, NY Tel 68'49. North Am Ed 6s. ... North Am Ed 6%8. Nor States Pow 58 Nor States Pow tis Stee! Ouioiflo Gas & Ei 63 19 PacT & T 1sths... 9 Pacific T & T bs ‘82 12 ban-American 6s. 179 Producers & Phila Co s 11a Co Phil & Rdg €& Plerce Public ta lair .- Sinclair Ofl 6% sinclair SinCOP Sin PI> sSkel 11 Tel b South B Bell 5. Est Orl;n:' g o Ol §%s. Bag & P 68 - e ®ha=bia o anlbrenSe w2 - P o vofaa~NeatRoTom— wire W isiya-Ov %33 wilson & Co 1st 6 Wilson & Co cv 6. Wilson&Ccv Ths. Winchester A 1%s 5 Youngstn S&T $a. 20 RATES ON BAR SILVER. 4.—Bar LONDON, - -March 96 96% 102% 954 9% 864 93% 109% 107% 108% 93% 84% 82% 97 101 102% 103% 103 101 107% 107% 444 96% 8% 100 100 110% 109% 100% 110% 9% 97X 100% 100% 104% 93 89% 99% 103 4% 63% 87% 93 894 82% 917% 95% 8414 R4Y% 38% 92 102% 103% 100 99% 100 7% £ A5y a1 105 9945 100% 100% 98'% 93% 95%% 87 106% 103 96% 100% 954 102 nM% 1% 10!% 98% 26 96 102% 95% 290% 86U 98% 109% 107% 1086 03 84% '82% 96% 100% 102% 103% 103 100% 107% 107% 44 964 98% 99% 894 110% 109% 100% 110% 97% 97% 100% 100'% 104% 93 9% 99% 102% 4% 5% 874 92 89% 82% a1% 5% Bil 84% 8% 92 103 102% 99% 9% 99% 77 85% 9914 100% 1004 8% 93% 95% 964 106% 102% 96% 100% 95 1015% 126% 951 0% 100% 10244 974 874 92% 102 99% 901g 994 84 100 114% 8614 1064 103% 100% 103 96 105 93 9% 100 943 116% 111 95 104% 102 95% 97 106 107 114 834 9314 100 85 116% 99% 28 96% 101%° 1084 964 101% 86 106% 101 1054 93% 85 49% 83y 97 9u% 110% 107y 87% 994 941, 6915 70 7 101% ELLY ' 3:10. 9E% H6Y% 102% 96% 99% 86% 98% 109% 107% 108% 93 84% 82% 97 100% 102% 103% 103 100% 107% 107% 44 96% 98 100 9945 110% 109% 100% 110% 97% T4 160% 100% 104% 93 9% 5% 102% 944 93% 874 93 89% 828 91% 95% 84'% 844 356 92 103 102% 8% 9% 99% 77 105% 935 8 STOCK ] UNITED STATES BONDS. (8al re in $1,000.) Lib3%s Lib st 4%s Lib2d 43 Lib 3d 4. Lib4 4%s.. 1 US4s1944. US4Ku'sa Sales. High. 10117 101 17 100 26 1019 10123 100 24 104 28 105 25 104 26 Low. 3:10. 101 12 10217 101 15 101 17 100 23 100 26 1014 1018 101 20 101 24 100 20 100 20 RAILROADS. Sales. High. B&OPLEWV 4, Bklyn-Manhat sy, Canad North 63, Canad North 7 ‘anada Pac Car Clinch ."Sb.:' Cent of Ga 5y, .. Cent of Ga g Central Pacifio 45 Ches & 0 oy :‘;“ Ches O gn 414 E1gn bs. Chi Great Wen CM & Puget 84 48 1 5 3 ChiM & St P 4s 26 321 CM&StPab Chl M&St P v 4344111 CM&StPgn 4%s 14 7 Chi M&St P rf 4144128 Chi & NW gn T&p : ChiRI& P ofte, ChiTH&SE 5 Chi Un Sta 434s Chi Union Sta & Chi Un Sta 6%s Chi & W Inc cn 4 C&W 1514, CCC&StL CCC & St Lrt Cleve Torm Cleve Term 6% A. . 61 1 5 32 C. & S. 1st 4s, '29. 120 Colo & Sou 4348 Cuba R R bs CubaRR 7%s Del & Hd 18t rr Den & Rio G en D & Rio G imp bs D & Rio G Wat bs. Det United 4%s. Erfe 1st cons 4s. Erie gen 4 Frie conv 5 Erle conv 4s B. Erfe conv4s D. Erle & Jersey 6 Gr Trunk sf db Grand Trunk 7 Great North b Gr North 5%s Gr North gen 7a. Green B & W db B. Havana ERL&P 68 Hud & Man ref §s Hud & Man aj 5 1 111 C-C St L&NO bs Int Rap Tran Int Rap Tr s stpd. Int Rap Tran 6 Int Rap Tran sas City 8 5 Kan Cy Term Lake Shore 48 Lehigh Val cn 4 Louts & N uni 4: Louls & Nash 5%| Louts & Nash 7s Man Ry 2d 4s 2013. Mil El Ry & L 6s.. M & St L 1st ref 4s. 5 Pacific gen 48 Mo Pacific bs’65. Mo Pacific 6s. Montr] Tm 1st 6s. NOTex&MbsB N O Tex & M In 5 NO Tex & M 5% N Y Cen L8 cl 3% N Y Cent cn 4s'98. N Y Cent ri bs. N Y Cent deb $s NY Chi & St L 5%s NYC&StL6sA.. N Y,Ont, Ws 1st 48 New Haved New Haven 7 . New Haven 7s fr. NY Ry rf 4s ctfs NY W & Bos 4%8. Norfolk & W cn 4s Northern Pac 3s. Northern Pac 4s.. Northern Pac b Northern Pacr Ore Short L ref Ore Sht Licn Gs *4i Ore-Wash 1st rf Pennsyl con 4%s Pennsyl gen 4%s. Pennsyl gen Penn. 5s. 64 % Pere Mara ist Gs. PorRL & P 68'47. Reading gen 4s Rio G West 1st RIArk & L4% StL IM&S 43°29. . St LIM&S R&G 4s. StL&SF pl s StL&SFprin StL&SF 5%sD. StL&SFadjés.. StL &S Finc 6s. StL&SFplesC.. StLS W 1st 4 StL S W con 4833 St P Un Dep 53%s. Seab’d A Lref 4s Seab'd A L 4s sta. Seab'd A L ad) bs. Seab'd A L con 68 Sou Pacific 4s'39 Sou Pacific ctl 4 :Sou Pacifio ref 48 Southern Ry &n 48 Southern Ry 1st b8 Southern Ry 68 ot. Southern Ry Third Ave ref s.. Third Ave adj 6s. Tol StL & W 8%s. Tol StL& W ¢s. {Union Pac 1st VaRv & P 1st bs. Wabash 1st bs.... ‘Wabash 2d 5 Western Md 4s. West Shore 1st 4s. ‘Western Paolfic 5 49% 83u | 97 98% Tin 470y 190 4% 85% 0 101% 3% silver, 6d per ounce. Money, 3 per cent. Di three-month bills; 4 11-16 per cent. it rates—Short bills, 43 per cent ‘reports. 25 106 Tow. 3:10. 661i 65% 88 $8% o 92 87 88% 914 9% 106% 1064 A% 87% 92 92 8% 89% 100% 100% 103% 103% 102 102 99% 99% 681 69 85% 86% 8615 86% 18 U8 116% 116% 79 19 106% 106% 100% 100% 103% 103% 814 8Th 968 96% 39% 89% 106% 107 564 66%% 90 90% 101% 101% 71 17 63% 6 56 65 53% 56 80 52 56 98% 4% 874% 834 864 7 92 101 116% 794 97% 96% 108% 100 105% 984 924 874 104 89% 83% 28% 61 92 1% €5 €8 67% 74 104 1077% 1164% 94% 101 110% 15 87 884 2% 984 1% ke 76% 934 163% 4% 62 72 89 5% 89% 82 88% 9% 106% 87% 97% 89% 101% 103% 102% 99% 69 86 86% 18 116% 8% 107 10074 108% 87% 96% 89% 107 57 904 101% 7% 63% 5T 67 88 9644 80 6% 9% 8434 100 1 ey 100% 115 95% 1024 3% 9144 100 99% 5l 6734 RO 1% 854 97 107% 967 104% 82 99% 4% 1034 97% 110% 1094 983 9% 95 85% 87 944 86% T4% 8%, 97% 894 81% 1025 80y 884 101% 66y 784 T6% a1 97 85% 894% 7% 101 105% 1o 65 4% 90% 834 928 99 85% 964% 6% 100% 96% €5% 82 93% 897 61% 854 97 107% 96% . 104% 82 95% 94% 10344 97% 110% 1094 98% 9914 95 8544 87 4% 864 T4 8% 97% 89 81% 1024 80% 884 101% 66 8 6% 90% 6% 85% 894 % 101 1056% 1094 85 41 99% 83% 2% 29 85% 264 95% 100% 86% 964 65% 65% 82% 82 93% 93 8954 TT% 101% 110 b5 41% 99% 83% 92% 294% 85% 96% 95% 101 U. 8. LEADS IN FRENCH TRADE NEW YORK, March 4—The United States led all other countries in the value of its imports into France dur- ing 1024, with a total of 5,749,615.000 francs, an increase of more than 694,- 0,000 francs over the previous year, the Bankers' Trust Co. of New: York Great Britain, which was first in 1923, dropped to second place. R . | PIG TRON CHEAPER. NEW: YORK, March 4.—The Iron Age pig iron-composite price has dropped to 2.25 from the $22.50 which had been 2! held o .42 o -for-‘seven successive weeks. It is lower .than one years ago lower than one year ago 160,000,000 Shares Since Election Day Largest Turnover of Any Similar Period in Ex- change History. By the Ascociated Press. NEW YORK, March 4.—Total stock sales on the New York Stock Ex- change between election day last No- vember and the Inauguration of Pres- ident Coolidge today were slightly in excess of 160,000,000 shares, the largest of any similar period in Stock Exchange history. During that time there were 27 two-million share days and 87 one-milllon share days. The average of 20 leading in- dustrial stocks has advanced from 102.73 on November 3 to 125.47 last night, or 22.74 points, and the rail- road averages have moved up 11.53 points to 104.68, the present leveis being the highest ever recorded. MATERIAL SETBACK IN WHEAT PRICES Sharp Decline in Liverpool Hurts Values Here—Corn and Oats Also Weak. By the A ted Press. CHICAGO, March 4—Influenced by an unexpected sharp decline at Liver- pool, whea* underwent a material set- back today during the early dealings here. Opening prices, which ranged 1 to 2 cents lower, with May 1.97% to 1.98 and July 1.72 to 1.723%, were fol- lowed by something of a rally and then by a downturn lower than before. Corn and oats sympathized with wheat weakness. cent to 1 cent lower, May-1.34% to 1.34%, the corn market recovered a little, but soon declined again. Oats started at % to % off, May 54% to 54%, and later held near to the initial range. . Higher quotations firmness to provisions WHEAT— High. May 1.05% July 31, September 21 COR May July .. September OATS— May July September on hogs gave Lov. 1913 Close 192 16334 1831 335 6% 3513 131 133 Bk 832 FER anz $FE July . September LARD— May July . RIBS— May ... July .. POINTS AT OPENING Buying Movement, on Gains in Liverpool, Sends Prices Upward. By the Associated Press. NEW YORK, March 4—The cotton market opened firm today at an ad- vance of 7 to 18 points on a continu- ation of the recent buying movement, promoted by advances in Liverpool, reports of a stronger market for cotton goods, absence of rain in the Southwest and bullish Southern spot advices. A good deal of realizing and some Southern selling was absorbed on slight setbacks and the market showed a generally firm tone in early trading, May selling up to 26.25 and October to 25.65, or 20 to 28 points net higher. Liverpool reported increased spot sales and with the large business reported in Southern spot markets yesterday probably stimulated buying of old crop positions. New Orleans Values. NEW ORLEANS, March 4—The cotton market opened firm, owing to cables proving higher than due and the weather map being dry in_ the Western portion of the cotton belt. First trades showed gains of 14 to 19 points and prices continued to advance after the opening call on the large spot sales in Liverpool, 12,000 bales for the day, and the bullish character of the weekly weather r port in so far as the drought condi- tions in the Southwest were con- cerned. ——— GRAIN AND PROVISIONS. BALTIMORE, Md., March 4 (Spe- cial).—Potatoes, per 100 Ibs., 1.00a 1.50; sweet potatoes, bbl, 2.50a6.00; yams, bblL. 3.50a4.00; beans, ham- per, 4.00a5.50; beets, crate, 1.50a2.50: brussels sprouts, qt., 10a20; cabbage, ton, 6.00a12.00; savoy, bushel, 50a75. broccoli and kale, bbl, 1.00a1.50; car- rots, 100, 5.00a7.00; caulifiower, crate, 2.00a2.75; celery, crate, 3.00a4.00; eggplants, crate, 3.50a5.00; lettuce, basket, 1.00a3.00; onions, 100 Ibs., 2.50a2.75; oyster plants, 100, 6.00a8.00 parsnips, basket, 35a50; peas, ham- per, 4.00a5.00; peppers, crate, 4.00a 7.00; spinach, bushel, 75a1.00; squash, 5.00a6.00; tomatoes, crate, 3.00 .00; turnips, basket, 50a90. Apples, packed, bbl., 3.50a7.50; bushel, 1.00a2.25; grapefruit, box, 2.00a3.00: oranges, box, strawberries, qt., 35a50. 4.2525.25; Selling Prices at Noon. Wheat—No. 2 red Winter, spot, ex- port, no quotations; No. 2 red Winter, spot, domestic, 1.99, nominal; No. 3 red Winter, garlicky, domestic, 1.95%, nominal; No. 3 red Winter, no quota- tions. Sales—None. Corn—Cob, new, vellow, spot, 7.00 per barrel; track corn, yellow, No. 2, 1.40. .2, 62%; No. 3, 601 Rye—Nearby, 1.40a1.50; No. spot, 1.64%. H. y—Receipts, 67 tons. Under more liberal receipts of hay by truck the market rules easy with little life to the buying. A moderate demand pre- vails for the better grades of timothy and light clover mixed, but common Jow-grade hay is hard to move at any price. Quotations today: No. ‘1 timothy, 20.50a21.50; No. 2 timothy, 17.00219.00; No. 1 lght clover, mixed, 19.50a20.00; No. 1 clover, mixed, 19.00a19.50; No. 3 clover, mixed, 17.00a18.00; No. 1 clover, 19.00a19.50. Straw—No. 1 wheat, 16.00a1 ton; No. 1 oat, 17.00a17.50; straight rye, 18.00a19.00. e CAR.- MEN DEMAND RAISE. MANCHESTER, N. H., March 4 (Special). —The street railway system here having been awarded an increase in fare from 8 to 10 cents, employes 4. 9 rye, 50 per No. 1 have demanded an eight-hour day and 75 cents an hour overtime. - P S Y Brazil will introduce government trade schools In its leading cltles. After opening % | COTTON GOES UP 7-18| PROBE ON COTTON New York Traders Fear Ef- fect on Business During Any Government Inquiry. By the Associated Press. NEW YORK, March 4.—The New York Cotton Exchange, through its president, Edward E. Bartlett, jr., has sent telegrams urging Senators from New York to oppose the demand of Senator Smith of South Carolina, in Congress, that the Department of Agriculture immediately begin re- classification of raw cotton stocks in New York warehouses. “We call your attention to the fact that this reclassification lies within the jurisdiction of the Department of Agriculture, which s undoubtedly competent to handle the matter with- out the grave disturbance which would probably be produced if under- taken as suggested by Senator Smith,” sald the Cotton Exchange chief's tele- 8ram to Senators Copeland and Wads- worth, “We earnestly beg that you will op- pose the passage of any such resolu- tion. In a supplementary state- ment, Mr. Bartlett said: If cotton were reclassified on du- plicates, the time consumed might be at least a month, and if owners of cotton demanded reclassification on redrawn‘ samples, as they probably would do—and rightly so on cotton received in some cases months ago- the time possibly would be stretched to two months. “Meanwhile the greatest confusion would prevail and all trading in local cotton would be thrown into @fsorder. The effect on the market would be most unfortunate.” FEBRUARY HARDWARE SALES SATISFACTORY Radio Business and Orders for Spring Goods Are Lead- ing Factors. Special Disvatch to The Star. EW YORK, March 4.—In its week- ly market summary Hardware Age will say tomorrow: Hardware prices generally are very firm. Further advances are ex- pected by wholesalers in the seve market centers. Jobbers report Feb- ruary a very good month, due to radio sales and advanced orders on Spring goods. Rural and suburban retail trade is fairly active, but city business is not very satisfactory at the present time. Jobbers say that dealers are placing well assorted orders, but in limited quantity. Retailers are now accepting deli eries on Spring merchandise, |early indications suggest a banner sea. {son on steel goods, lawn mowers, garden hose, freezers and other Spring ines. The general expectancy is for grad- ual but comtinued improvement in | business. GERMAN STOCKg ;g BONDS. (Quoted in dollars per million marks.) Bid Asked 1418 1475.00 1525.00 43 1750 20.00 ed “ioan) per thousan pre-war 1919. pre-war........... Hem. 3s, 33%s and 4s pre-war Hamburg ‘Am. Line 4i3s North German Lloyd 4lgs North German Lloyd 2 Prus Consols 3% Krupj 1921 Dusseldort 4« pre-war Frankford a-M és pre-war Munich 4s pre-war Z Badische A E G iQuoted in dolla Ger. Ge v B0l Anilin (German Commers & Pri Disconto Gellschaft Dresdner Bank Deutsche Bank | Darmstaedter Baok | Mercer Bank Vienna.. SEABEE Bank 23383333% w, =8, a3 DIVIDENDS. Par able Apr. Apr. 1 Apr. Apr. Apr. Apr Avr July act! ock ot ecord Mar. 12 Mar 18 Mar. 18 Mar. 14 Mar Mar Mar, 1 June 1 Sept Jan. 1 Dec Apr. 1 Mar. July 1June Oet. 1 Sept. Jan. 1 Pec. Apr. 1 Mar. Apr. July Oct. Jan. Corp. American Ex....... Amer. Wool pf.. 1 Ban. Trust Co. 1 1 1 1 1 1 ol 000000000000 mmatan o Rmp? Do, ©OHOp0cPo0, S Her. Powder Hol. Cons. G. Hous. F1. pf... Man. Elec. .. an. El. Sup. . City Bank. . CIty Cv.. - Y. Steam. pf. * i 3 NEW YORK, March 4 (Special) Cotton goods today maintzined the frac- tional advances they achieved Tuesday, but went no higher. Trading was light Print cloths were quoted at 93 cents for 64 by 60 and 11% for 68 by 72. Raw ° silks quieted down, but held steady at Tuesday's level. WOOL BUYING SLOW. BOSTON, March 4 (Special).—The saw woot markets were dull today with price movements somewhat mixed. Dealers and buyers are far apart in their views on values. De- laipes have moved as low as 65 cents in the grease and reports are heard, but not confirmed, of sales at even lower levels. Australian 70s have sold at $1.50 clean in bond Eoston. Fine merinos are slow but pulled wools are firm. MILLS REPORT LOSS. NEW YORK, March 4.—Net loss of $537,953 after all charges is re- ported for 1924 by the New England Southern Mills in contrast to net operating profit of $212,890 in 1923, AR RN STOCK MELON VOTED. NEW YORK, March 4—The St Croix Paper Co. has declared a stock dividend of 331-3 per cent on the common stock, payable March 20 to stock of record March 10. The dis- tribution will increase the outstand- ing stock to $2,000,000 from $1,500,000, LIVE POULTRY HIGHER. CHICAGO, March 4.—Poultry—Alive, higher: fowls, 27a28; Springs, 3 roosters, 19; turkeys, 25; ducks, geese, 14, e WOULD CUT MINERS' PAY. CLEVELAND, March 4 (Special).— The coal industry is slow despite ths fact the Winter has been severe. Coal operators will meet here Friday to discuss downward revision of soft coal wage scales. The Jacksonville agreement was to extend for three years, but the Industry has been in deep depression and operators to arrange a revislon.