Evening Star Newspaper, March 6, 1925, Page 28

FINANCIAL, HIGH-PRICED ISSUES! CONTINUE ADVANCE Equipments Active — Heavy Buying in Qils—Many Gains by Specialties. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, March 6—Strength on the Stock Exchange was confined again today chiefly to the industrial section, where a number of high priced issues | continued their flight to top figures and operations for the rise in special- ties were carried on confidently. The rails as a rule did little. Stocks of the type of General Electric, Laclede Gas. Baldwin Locomotive and National J.ead were the most conspicuous. A few of the oils went forward to their best prices, although the movement was not general Equipment stocks were again prom- inent. American Locomotive made a new high, but the leadership was umed by Baldwin and by lway Steel Spring. Pullman ran up over two points. After its spec-| tacular rise of the previous day there} was naturally some profit-taking in American Car and Found A fcan Steel Foundries again dence of having discounted per cent stock dividend. General Electric Bid Up. Electric manufacturing shares were very busy under the lead of General Electric, which was bid up with con- siderable violence. General Elec- tric, allowing for the deduction of Electric Bond and Share, sold at a new high as it reached 260. Westing- house Electric crossed 74 and Allls Chalmers had a sharp run-up. As illustrating the highly specula- tive character of the market the mere announcement that former Secretary Hughes had been engaged as a legal | adviser to the recelver of the Ward| Line in the suit against the Atlantic Gulf and West Indies was suffieient to put the Atlantic Gulf stocks down over 4 points In the preferred and over | points in the common. The bonds} the company were similarly weak The suit involves a claim of around $18.000,000. Heavy Buying in Oils. The two features among the oils were California Petroleum and Ind pendent Ofl and Gas. The heavy buy ing of the California Petroleum issu was accompanied by a renewal of re- ports that new banking powers were taking an interest in the company. With Independent Oil and Gas it was still a case of conjecture as to the Durant influence. American Can made a new high as It reached 185, this on the usual talk of a capital split-up similar to that which occurred in the case of| Corn Products. The assurance that the huge increase in American Tele- phone and Telegraph capital will in- volve no issue of new securities this vear had a good effect upon the stoc Ihich sold at 135. Western Union was very strong, but for reasons of its own. A dividend increase here would be easily warranted on the basis of current earnings. Among the specialties there brisk upbidding at times in Maxwell | Motors B, in Laclede Gas, in May Department Stores, in National Lead, | Texas Gulf Sulphur. in United Drug and in Remington Typewriter. Rubber and tire shares were strong again under the lead of Goodrich and the Goodvear stocks. New high prices for Independent Oil and Gas accompanied favorable reports of the company’s current earnings. In February earnings before depreciation, depletion and other write-off were $450,- 000, the equivalent of $1 per share, or at the ‘annual rate of $12. “¥oA0IdM] MIDWIVL) NIV The sharp advance in Allis Chalmers was commented upon favorably in specu- lative quarters. The feeling was that with a strong cash position, and with net | income on the common approximating | $9 a share or better, Allis Chalmers would be warranted in distributing more to shareholders. There was talk of a possible merger | between Beechnut Packing and Pos- | tum Cereal. Some people believe that actual conferences will be resumed again shortly In this connection. The opinion was expressed that, in view of the recent advance in Postum shares, negotiations toward a combi- | nation of the two postponed. American Safety Razor went ahead again briskly, completing a rise of several points in two days. This per- formance was attended by accounts of the company’s improved business It was said that incoming orders are | necessitating full operation of plants. | Recent sales have been at a new high rate . MARKET CLOSES STEADY. | was companies were | NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Abitibi Pow (4). Adv Rumley.... Ad Rumly pt (3) Alr Reduct (15). Ajax Rubber-. ... Alaska Juneau. . All Am Cable (7) Alled Chem (4). Allled Cm pt (7) Alls Chaim (4). Am Agricul Chm Am Ag Chm pt. . Am Beet Sug (4) Am Beet S pt (6) Am Rosch. .o Am Brk Shoe (5) Am Can (t8) Am Can pt (7 Am Car & F (12) Am Chain A (1). Am Drug (60c) Am Express (3). Am & For Pow.. Am & Fr P pi(7) Am Hide & L pf. AmIce (7)...... Am Internat Am La Franc Am Linseed pf Am Loco'(s). .. .. Am Loco pt (7).. Am Metal (3)... Am Radiacor (4) Am Safty Rz (3) Am Ship & Com. Am Sm & Ref (6) Am S & R pt (7). Am Stl Fdys (3). Am Sugar. Am Sumatra Am T & Tel (! Am Tobacco (7). Am Tobac B (7 Am Typ Fdrs (7) Am WWE&ELI 30¢ Am W W 1st (1) Am Woolen Am Wool ptd (7) Am Writ Pap pf. Am Zine.... Am Zine pt Anaconda (75¢0). Areher-Daniels. Arn Cons & Co 67 16% 1% 122 Asso D G 1st (6) - Asso D 2d (7). Asso Ol (1%) AtT&SFe (). AT&SFpt (5). At Birm & At... Atl Coast L (19) AtGulf& WI. At Gulf & W I pf Atlantic Refiinin Atlas Powder (4 Atlas Tack..... Austin-Nichola. Austin Nic pt (7) Baldwin L (7). Bald Loco pf (7) Bal & Ohio (6).. Bal & Oh pf (4). Barnet Leather. Barnsdall A.. Barnsdall B Bayuk Cigar Beech-Nut (3) Bethlehem Steel Beth St pf (7). Beth Stl pt (8) Briggs MIg (3% British Emp 2d. Bkl Edison (8).. Brk-Man Tran.. { Bklyn Man pt (8 Brklyn Un G (4) Brown Shoe (4). Brunswick-Blke Brunswick Term *Buff R&P (4). Burns Bro (10). Burns Br B (3). Bush Term (5).. Butte Cop (50¢). Butte & Superliol Butterick Co.... Cal Packing (6). Cal Pete (1%).- Calif Pet pt (7). Callahan Zine... Calu & Ariz (2). Calumet & H (1) Can Pacific (10}, Case Threshing. Cent Leather. ... Cent Leather pf. CRRNJ (t12). Century RIb (2) Cero d Pasco (4) Certaln-Teed. . . Certain-T 1st (7). Chand Mot (3).. Ches & Ohto 4) . Ches & O pf (6% Chicago & Alton Chic & Alton pf. Chic & East I1l.. Chi & E 111 pf. Chic Gr West. Chic Gr West pf. Chi MIl &St P. . Chi Mil & S P pf. Chi & Nwn (4) | Chi & Nw pt Chi PneuT (5).. Chi R 1& Pac. CRI&PPI(D. ChiStPM&O.. ChStPM&Opf (5) | Chile Cop (234). | Cluett Peab (5). Coca-Cola (7)... Colo Fuel & Iron Colo Southern. . Colo Sou 2d (4).. Col G & E (2.60). Col G & E pf (1). e e Com Iny (2.50).. Some Recessions Due to Week End Realizing. By the Associated Press. NEW YORK, March 6.—Stock prices displaved a firm undertone in toda market. Several high-priced indus- trials were buoyant on the prospects of special distribution to stockhold- while pool operations were ac- tively conducted in the eq menl;.l oils, rubbers and motor issues. Total sales approximated 1,500,000 shares. The closing was steady. The customary week end realizing, coupled with the selling inspired by the drop of 10 cents a bushel in wheat price: rought about recdssions of a poi or so from the earlier highs in the| late trading. or Markets at a Glance NEW YORK.—Stocks, steady; high- priced industrials buoyant. Bonds, regular; St. Paul issues feature trad- ing. Foreign exchanges, firm; francs rally 8 points to 5.18 cents. Cotton, lower; predictions favorable weather. Sugar, firm; higher spot market. Cof- * fee, irregular. CHICAGO.—Wheat, weak; break 4 to 11 cents a bushel. sympathy wheat. strong. prices Corn, Cattle, firm. FOREIGN EXCHAN (Quotations furnished by W. B. Hibbs & Co.) | Nominal ~ Selling checks toduy. London, pound. $477) Montreal, dollar 8 Parjs, tranc. Brussels, {runc. Bariln, Athens, drachm; Madrid, peseta Prague, crown. Warsaw, zlot, Copenhagen, crown. Christiania, crown. Stockholm,” crown. By the Associated Pross. NEW YORK, March 6.—Foreign ex- changes steady: Quotations _ (in United States dollars)—Great Brit- fan, demand, 4.76 9-16; cables, 4.36 13-16; sixty-day bills on banks, 73 7-16. French demand, .0517 0517%. Ttaly, demand, .0407%: .0408%. Belgium, demand, -0506; cables, .0506%. Germany, .2380; Holland, .3989; Norway, .1523; Sweden, 2693: Denmark, .1790; Switzerland, 1923; Spain, .1420; Greece, .0153%: Poland, .0019% Czechaslovakia, 0296%; Jugoslavia, .0160%; Austria, .0014; 'Rumania, .0050; Argentina, Tokig, .40% ; Mon- Com Solv A (4). Com Solv B. Congol-Natra (3 Con Distributrs. Coni Consol Textile Cont Can (4).... Cont Insur (6).. Cont Mot (80c). | Corn Prod (2). . Corn Prod pt (7) Cosden Co. Crucible Stl (4). Cub Am Sug (3). 1Gas (5).. Cuban Cane Sug Cu Cane Su pf. Cuba Dominican Cuban Dom pf.. Cuyamel Fr (4). Daniel Boon: Davison Chem Del & Hud (8) Del L & W (6) D&RGWstpf.. | Detroit Ed (8).. Dome Mines (2). Dul§S & At pf. Dupont (10).... Eastman (18). Eaton Axle..... Eleo St Bat (15). End-John (6)... Erie : Erle 18t pf. - Fairbks (2.60).. Famous P1 (8).. Famous pf (8). Fed Lt& T (*7). Fed Mines pf (7) 108 147 56% Fid Phoenix (6) 155% Fifth Ave (84¢) Fisher Body (5). ¥isk Rubber. Fisk R 1st (1)... Fleischmann (4) Foundation (6). Foundation rts. Freeport-Tex Gardner Motor.. Gen Am Tnk (3) Gen Asphalt. ... Gen Asph pf (5). Gen Cigar (3)... Gen Electric (8) Gen El8pl (60¢) | Gen Motors (6). Gen Mot pf (7). Gen Petrol (2).. Gen Refrac (2). Gimbel Bros.... Gliaden Co. Gold Dust. Goodrich. Goodrich df (7). Goodyear Df.... Gdyear prior (8) Grt North of (5) Grt Nor Ors (4). Grt Wstn Su (8) Greene Canan. .. Gulf Mo & Nor. . Gu Mo & N pf 63 Gulf St Steel (5) 18% 65 124 84 8% 103% 1% 9% 14% 50% 56% 96 994 253% 11 74% 108 56% b4 49% 16% 38 b4y 98 101 107% 69% 38 97% 15 27% 95 20% 67 15% 51% 66% 15% 51 105% 12% 1% 122 BOW 118% 7% 18% 48 40% 86 38% 100% 182% s 119% 226% 24% o% 160 31% 92% 72 Hayes W pf (7% Homestake (17) Househ P (13%) Houston Oll.... Hudson Man. ... Hud Man pf (5). Hudson Mot (3). Hupp Mot (1)... Illinots Cant (1) Independ Oil (1) Indian Refining. Inland Stl (2%). Inspiration Cop. Interb Ran Tr Internat Agri... Int Bus Mac (8). int Cement (4). Int Com Eng (2) Internat Har (5) Int Mer Marine. Int Mer Mar pf.. Internat Nickel. Inter Niciz pf (6 Internat-Paper. Int Ry CA pf (5) Inter Shoe (5).. Int Tel & Tel (8) Int Tel & Tel rts lowa Central... Jewel Tea...... Jones Bros Tea. Jordon Mot (3). KCP & L 1st (7). Kan City South. Kan C So pf (4). Kelly-Sprgfield. Kelly Spring 1st Kennecott (3).. Keyetone T & R. Kinney GR.. Kresgs Dep Str. Laclede Gas (8). Lee Rub & Tire. Lehigh Val (3%) Liggitt & M (14). Lig & My B (14). Lig & Myrs rgts. Lima Loca (4).. Loews Iro (2) Loft. Loose-Wiles Bis Forrillard (3)... Lorillard pt (7). Zouisiana Oll. .. Louis & Nash (8 Ludlum (2). Meclntyre (1). Mack Trucks Macy H R & Co. Macy pf (7). Magma Copper. Mazllinson & Co. Man E! Sup (4). Man Elev gtd... Man El md g (5) Manila Electric. Maracaibo Oll. . Market St prior. Market St 2d pf. Marland Ofl Mar-Rock c) . Martin-Parry 4. Martin-Par rts. Mathieson Alka. Maxwell Mot A.. Maxwell Mot B May Dept St (5) May Dp S pf (7). Metro G pf (1.89) Mexican Seab: Miami Cop (2).. Middle States... Midind Pr pf (8) Minn & St Louis Mis Kan & Tex. MK & T pf (5).. Missouri Pacific Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 750 Murray Body... Nash & Chat (7 Nat Biscuit (14) Nat Dairy (3).. Nat Dept Stores Nat Dp St 1st (7 Nat Distillers pt t Ry Mex 2d.. Nevada Copper. N O T&M 123%... Nwpt U Gas (5). N Y Canners (2) N Y Central (7). NYCStL(8)... NYC&StL pf (6) NY NH & Hart.. NYO& Wat (1) Niagar F pf 1%. Norfolk South.. Norf & W (18).. Norf & W pf (4) North Am (3.40) North Am pt (3) North Pac (3) Cnyx Hoslery Orpheum (1.80). Orpheum pf (8). Otis Elev (15%) Otis Steel. Otis Steel pf Owens Bot ¢ Pac Coast 2d pt. Pacific Gas (8) Paciflc O11 (2).. Packard (11.50). Packerd pf (7) Pan-Amer (6). Pan-Amer B (6). Park & Tilford. Penna C & Coke. Pennsy R R (3). Penn Seab Steel. Peoples Gas (8). PhilaCo (4).... Phila Co pf (3)... PLila& RC&L. Phillip Morris. . Phillips Pet (2). Pierce-Arrow.. Plerce-Arrow pt Pierce Oll . Pierce Petrol... Pitts Term Coal. pitts Ut pf (1.20 Pitts & West Va. Postum-Cer (4) Prens Steel Car. Prod & Refiners Pub Ser N J (5). Pub Serv Tts (n) Pullman Co (8). Punta A) 8a (5). Pure Ofl 1%). Pure Ol (8).. Radio Corp of A *RSICefs (). Ry Stl Spg (8).. Ray Cons Cop Reading (4) Reading rts Reading 1st Remington Type Replogle Steel. . Rep Ir & Steel. . Rep1&SDpt (1. Reynolds Sp (1) Rey Tob B (3).. Rossia Ins (8)... Roy Duth 4.42% St Josepn 14 (2) St L & San F (6) St L Southwest. | St L Swa pt (8). Savage Q;;fl. - Schulte (8)..... Seaboard Alr L. Seabd Alr Lipf.. Sears-Roebk (6) Shell Trad (2.06) Shell Un (1.40) { Simmon Co (3).. Simms Pet (50¢) Sinclair Ofl. Skeliy Oil Sloss-Sheft (8 South Pac (6).. Southern Ry (5) South Ry pf ( Spicer Mfg. Spicer pf (8). Std Gas & El (3) Std Gas & El ptd Stand Mill (5).. StOfl Calit (2) StOINJ (1)... StOil N J pf (7). Std Plate Glass. Stew Warner (5 Stromberg (6).. Studebaker (4). Submarine Boat Superior Ofl...« Open. High. 31% 36% 103% 444 85% 9 23% 65 48% 15% 7% 32% 814 46% 27% 29% 10% 119% 56l 43% 107 124 46% s 974 55 61% 1174 92% 3% 2% 20% 18% ~ b4 101 81% 86% 1034 4% 85% 80% 24% 5 43% 16% 117% 83% 84 46% 27% 30% 10% 119% 564% 44 107% 124 46% 27 974 Low. Close. 81% 364% 108% 4“4 3% 9 23% 65 420 15% 1% 31% 863 108% 4“ 854 T0% 24% 65 43 16% 117% 82% 84 46% 27% 264 10% 119% 564 43% 100% 9274 10% 584 46% 85 484 107% 61% 18% 1074% 814 8244 814 17% 474 2% uz 47 " 17% 12% 69% 70 4% 1% % HIEHER QUOTATIONS ON LBERTY BONDS C. & 0. and B. & 0. Obliga- tions Lose Ground—St. Paul Issues Again Weak. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, March 6.— standing reports of a firmer tone in time money United States Govern- ment bonds were higher today for practically every active issue. There was a remarkable increase in savings bank buying, which showed Iitself mainly in dealings on the exchange as in trades “over the counter.” For these seemingly contradictory movements there was 5o adequate ex- planation unless it be that the banks feel reasonably sure that money will not be materially dearer. Oversubscription Seen. It was reported in Washington that the new Treasury offering of bonds and certificates would be well over- subscribed, and this may have been a helpful Influence in the Liberty bond market. In speculative bonds the St. Paul issues continued to be the center of interest. The 4s of 1925 opened higher. and then reacted, fluctuating over a wide range. The Street was filled with improbable reports as to the St. Paul situation, but they had an in- fluence on the market. Central 6x Strong. New York Central debenture 6s were active and strong, in sympathy with the stock. A move that attracted-notice was that in Fond, Johnstown and Glovers- ville 41%s, which today were up over 3 points in a week. One of the re- porte current was that the General Electric was interested in the proper- Local tractions were a shade higher. Standard Gas and Electric 63 were the leaders in the public Notwith- ew Insues. Foreign bonds were little changed German 7s were fractionally higher. Today's new issues included $8,000,000 American Power and Light debenture 63, additional offer’.g, to yield 6.25 pér cent. e = HOGS UP 50 CENTS IN MARKET TODAY | Average Price Holds Around $14.25 in Stock Yards—Run Reaches 20,000. ial Dispateh to The St CHICAGO, March 6.—Hogs again about 50 cents higher today vards traders did heavy first hour or so. Choice butchers sold 214.30. Some small lots sold . but the practical top of the » was 14.30. Packing hogs also showed the galn during the first rounds, but big killers refused to fol- low the lead and the market was weak later. Good packing hogs sold at 1250 and down. Some good lots went above 13.00, however. The run was 20,000 head. Sellers had about 7,000 hogs held over. 150,000,000 ROAD | BONDS APPROVED | By the Associated Press. HARRISBURG, Pa.. March §.—Gov Pinchot today signed a new enabling act permitting the sale of 50,000,000 road bonds approved in ovember, 1923. The act was necessitated by a ate Supreme Court _decigion de- claring the orlginal enabling act con- stitutionally defective. The first $20.000,000 can be sold April 1, an equal amount August 1, and the remainder May 1, 1926. The interest rate is limited to not more than 413 per cent, and the bonds can run from 5 to 30 years. 16% 224 13 { Symington. . Symington A(2) Telautogr'h 25c. Tennessee Copps S Texas Co (3)... 46% Tex G Sul (17%) 112 Tex & Paciflo... 554 Tex&PacC&0 20% Third Avenue... 12 Tide Wat Ol1 (4) 145% Timken (+3%).. 41% Tobac Prod (8). 78% Tobac Brod A (7 98% Transcont Ofl... 4% Transu& W (3) 28 Twin City (4)... 654 Underwood (3)! 39% Union Ofl....... % Union Ofl (1.80) 40% Un Pacific (10). 148% Un Pac of (4)... 744 Un Tank Car (5) 1241 Utd Alloy Steel. 344 Utd Clgar (13%) 77% United Drug (8) 119 Utd Drug 1st 3% 52% Utd Fruit (10).. 212% U S Cast Iron P. 235 USCIPDS(7).. 106% U S Distributing 34 U S Hoff (50c).. 23% US1Ind Alcohol. 84 U S1nd Al pf (7) 105% U S Realty (8).. 126 U 8 Rubber. 42% U S Rub 1s . 954 U S Smelting 33% USSmpf (3%). 45% U SSteel (17)... 124 U S Steel pf (7). 128% U S Tobacco (3). 53 Universal Pipe.. 44% Univer Ppf (7). 89 Utah Copper (4) 874 Utah Securities. 53% Vanadium. 33% 23% S4i 105% 126% 42% 95% 33% 45% 1247% 12315 83 43% 874 86% b4% 29 24 10% . 81% 1% 25% 647% 17 42 54% 108 116% 15 21% 87% 93 124% 106% 744 11 20 28% 65% % 9% 884% 25 1% 844 116 69% 86% 19 49% 87 T4% Jreterred stock. Va Ry & Power.. Vivadou. Wabash Wabash D! waldorf (1%) ward Baking B. Webber (4)..... West Pen (4). West Elc pf (7). 116% West Moryland. - 14% West Md 24 pf.. 21% Western Pacific. 384 West Pacpt (6). 93 West Union (7). 128% ¢ Alr Br (6).106 tinghse (4). 72% eston IS 04 ton Elec W ite Bagle (71 28% White Mot (). 664 wickwire Spent. 1% Wi & C0i” 5 7 5 Witkon Dsticac ffv. Overlan: Wila-over pf.. 83 Wooiworth /317 117% Worthington... 1 Worthington A 8614 Wright Aero (1) 19 wrigley (*33%). Yellow Cab..... Youngstn S&T. +0ad lots. {Partly extra. $Payable Dividena rates ‘as given above tabie are the snnual cash payments o ents based on the quarterly or half-yearly declarati e Tothoenlos” acted. Ualew otherwise noted. extra er oeciai 81% 26 65% 17 424 4% 108 116% 15 21% 8814 93 125% 106% 4% 11% 204 28% 654 % 10% 38% 25 124 85%4 117% T % 864 19 49% 3T % work in the | | Armour & Co 4% (oo BONDS oo Sales. High. Li1-2d4% s 20 101 Lib1st4i4e 7 10122 Lib2d4is. 85 10028 Lib3d 43s. 322 101 12 Lib 4 4%s.. 647 10127 US4s1944. 7 100 19 TS4%s'53. 13 10428 Argentine 6s A. Argentin, B. Argentine 7s nustria 7 . Bank of Japan 6. Belgium fs wi. Belglum e wi.. Belglum 734, Belgium Berne 8s Holivia 8a. Bordeaux 61 Brazil 7s. Brazil 714 Brazil 8s Canada 5a 195: Canada 6% 19; Chile 75 1942 Chile 85 1941 Chile 83 1946 Chinese Gov Ry Christiania 8s Con Pow Japan 7 Cuba G3s. .. Ciecho 8s 1951..." Czecho 8s 1952 ct. . Danish Munic 8s A Denish Munic 8s B Denmark 6s...... Denmark 8a...... DEI65%s Mch'53. DEI5%s Nov '52. Dutch East I 68 '47 Dutch East I 6s 62 1 Salvador 8s 45.. French Tswi..... French Govt T%s. French Govet 8. . Germany Ts w Ger Gen Elec Greek 78 w 1. Hungary 6% Japanese 4 Japaness 61s Jergens U M 6 Lyons 6s. . Marsellle 6 Mexico 5s. Montevideo Netherlands 6: Netherlands 6s 'T: Norway s 1943. Norway 6s 1944. Norway 6s 1952 Norwhy 8 Orient Dev del Paris-Ly's-Med 6s Paris-Ly’s-Med 78 > Poland 6s '40..... Poland 8s '50 ‘wi Queensland 6s Queensland 7s. Rio de Jan Se Seine Dept uf Serbs Cr'tes Slo 83 So 68 - Sweden 5%s ue. Sweden 6s. . Swiss 5%s 14 Swiss Confed 88 Tokio 66. ... Ud Kingm §%435°23. Ud Kingm 5% Ud Steam Copen Urugusy 88 Zurich 8s 10 = CRaunwsn-nsatson anSh-Gadl- ' 38 Am AgrChem 5s.. 61 Am Agr Chem T%a 13 AmChalasf6s'33 7 Am Repub deb 6s. . § Am Smit & R 1st 52 71 Am Smit & R Am Sug ref 6 AmT & Teltrds Am T& Tcl trbs. . AmT& Tstbs. .. Am T & T deb 538 25 Am Water Wks 58 2 Anaconda 1st a2 Anaconda cv d! 18 Andes 75 25% pd 7’0? 1 Armour of Del 5% 42 | Atlantic Refin Sa.. Bell Tel Pads... Beta Steel pm bs. Beth Steel rf bs... Beth Steel 5%s ‘53 Beth Steel 8 f 6a. . Brier H St 1st 5% Bklyn Ed gen 6s. . Bush T Bldg 6s '60. Calif Pote 6% Central Leath: Chile Cobper Cin G E 5%s 62 Commonwth P 6s Con Coal Md 1st 58 Con G NY 5%s wt. Consumei s Pow 5 Cuba Cane cv it " Cuba Cane cv d 3 Cuban-Am Sug 8 Denver Gas 58 Det Elison ref 6; Donner Steel 78 Du Pont de N 7%; Duguesne Light és Est Cuba Sug 7%s Empire G&F T%8 Fisk Rubber 8s... Francis Sug T%s.. Gen Elec deb 53 Goodrich 6%8 Goodyear 8s 19 Goodyear 8s 1941 Hershey 65 1942. Humble O&R 5% Illinots Beil 1st b int Mer Marine & Inter Paper 5347, KCP & Lt 68 A '53. Kan G & El 68’52 2 13 09 - 1 EBE BB aRn-~ T @te 2Ra o maBea Lacl G re: S Manati Sug sf 7%8s Midvale Steel 5s.. © New Eng Tel 68 N Y Bd o8 44 wi.. N Y Eden lst 618 NYG EL H&P 4 e woRewiase N Y Tel 6 North Am Ed 6s. North Am Ed 6 %! Nor Ohlo T&L 6 Nor States Pow bi Nog States Pow 6 Otis Steel s&E1Ss 6 Pacific 2‘.1 55 ."a;g nila Co 5%3'38. Phil & Rag CAL6s. < pierce-Arrow 8 Westin Willys-Ov 6%s'33. Wilson & Co 1st 63 Wilson & Co cv 68 Wilson&C cv 7% Winchester A 7%s | Youngstn S&T 6s. 101 Received by Private Wire Direct to The Star Office. ., UNITED STATES BONDS. (Sales are In $LO00) Lib3%s... 406 10119 10118 ;3‘2 19 10118 10122 100 24 100 27 1016 10110 10124 10125 100 17 100 17 105 28 104 28 FOREIGN. 9% 00 133 94 £8 85% 854% 9914 10315 101% 1s 674 116% 106 94% 1084 109% MISCELLANEOUS. | Ajax Rubber 5a 08% 100 100% 100 98% 954 264 1065 102% 96% 100% o5 101% 85'% 100% 1024 9844 87 99% 103% 1014 115 671 116 106 244% 108 109 % 100 100% +9 95% uFly 106% 102% 96% 100% 95% 101% 95% 100t 102% 981y £7% 9234 9t 100% | 22 96% £3 o5% 93% 160 904 105% 160 108 102 1005 875 101% 4% 97% 101% 108% 944 107 a1k 107% 106 1065 102% 11y 5 106 4 103% 101% 104 109% 106 107% 114% 88y 935 90% 85 116 1024 9814 1015 941 101% 86 1065 101% 1055 94 87% 49 2% 64 98% 107% 100% 85 0% W% 101% RAILROADS, Sales. High. Low. 2:50. 654 65 65 83% 83% 83% 894 B9% 9% 87 87 8T% 92 91% 92 91k 9l 9% 106% 106% 106% 8 88 88 92% 92% 92% 891 B89% 89% 101% 101 1014 103% 103% 103% 102% 102% 102% 69 69 69 99% 99% 99% 864 86% :?lh 173 8644 Canad North 634, ll?; 118 118 Canada Pacdeb ¢s 9 79% 79% T9% Car Clinch &0 6s. 27 106% 106% 106% Centof Ga 514 100% 100% 100% 3104 108% 103% B 8T B1% 9bv% 96% 96% 29% 89% B89% 1064 106 106% 631 6314 634 56% 56 56 80 90% 904 101% 101% Atchison adj 45 Atchison gen 4 101% | 91% | 7 63% b8 65% 53 BT% 524 56% 98% 854 101 124 8% 834% ®6 s. 31 Chi M & St P 4s 28 357 CM&StPdb4s.. 41 Chi M&St P ev 4345 77 Chl M&St P rf 4%e 16 Chi M & 8t P cv 5s. 32 ChiM&StP 6s... 38 C&N 10 21 ChiRT& P gn ChiRI &Pt 79 97% 9574 103% 9844 92% 87 90k 105 102% 834 984 614 93 1% 65 684 67% 74% 104% 96 4 107% 116% 9414 101 1101 15 CCC & StLbs CCC&SLLrton A, C. & S 1st 4s, '29.160 Colo & Sou 4138, CubaRR 6s.. Del & Ha 18t rf Del-Hnrd cv bs Del & Hudson 53 Den & Rio G cn D & Rio G imp bs. D & Rio G Wat bs. Det United 41s. Erie 1st cons 4s Erie gen 4 Erfe conv Erle conv . Erte convds D. Erfe & Jersey 6s. . Erfe (Pa)elt tr 4s. Gr Trunk sf db Grand Trunk 7 Great Nortb 5 Gr North 6348 Gr North gen T Green B& W db B. Havana ERL&P 58 2 Hud & Man ref 6s. 79 Hud & Man aj bs.. 44 11 Central 5%s 2 | I C-C St L&N & Int Rap Tran 77 Int Rap Tr 68 stpd. 95 Int Rap Tran 6s.. 64 Int Rap Tran 7s...4i6 Int &G Nor Ist 6s. 3 1 Int & G Nor a) 62 lTowa Cent rf | Towa Cent 1at 5 Kan City Ft S 4 Kansas City S 2s.. Kansas City S bs. Kan Cy Term 4 Lake Shore 4: Lake Shore 48 "21. Lehigh Val cn 4s.. Lehigh Val 55 2003 Louts & N unt 4: Louts & Louls & Nash Manhut Ry cn # Mil El Ry & L 68 M & St L 1st ref 4s. M&StLrfexbs.. M StP & SSM cn 48 M StP & SSM 5% M StP & SSM 6 % MK &T lst 44 MK&T4sB. | MK & T sdy 5 MEK&TprinbsA IMK&TS6sC.. M~ Pacific gen Mo Pac 58 1926. Mo Pacific 68'€5. Mo Pacific 6a. Montrl Tm lst 6s. . Nassau £ Ry 45 '37 I NOTex & M in 5i N O Tex & M 58 B. NO Tex & M 5% N Y Cen gen 3% N Y Cent cn 4 N Y Cent ri bs N Y Cent deb NY Ch' & St L 5% NYC&StLEsA New Haved New Haven 7i New Haven 7s fr.. N Y, Ont, Ws 1st 48 NY Ry rf 4s ctf: N Y State Ry 4 NY W & Bos 4% Northern Pac 3s... Northern Pac 5s D Northern Pacr 1 6s Norfolk & W cv és Ore & Calif 1st bs. Ore Short L ref 4 Qre-Wash 1st rf Pennsylcon 4%s. . Pennayl gen 43s. Pennsyl zen Ss.... Penn. 5s. 64.... Pennsyl 6% Pennsyl gold 7 Peoria & E Inc 4s Pere Mara 1st s. Por RL & P 6847 Reading gen 4s... Rio G West cl 4 RIArk & L 4%: St L IM&S 4s'25. St LIM&S RE&G 4s. StL&SF pl4sA StL &S FpriaSe. StL&SF5%sD.. StL&S Fadj6s StL&SFincés... StL&SFplesC.. St LS W con 4s ‘33 St P & KCShL 4%s St P Un Dep bs.... San & & Arn Pds.. Seab'd A Liref 4s. Seab'd A Ladj 5s.. Seab’d A L con Sou Pacific 43°29.. Sou Pacific ctl 4s.. Sou Pacific ref 4s.. Southern Ry xn 4s Southern Ry 1st b8 Southern Ry Southern Ry Term Asso St L 4s Texas & Pac 1st 63 Third Ave adj 58 Third Ave ref 4s. Tol St L & W 4s. Toledo Trac 63 Unlon Pac 1st Union Pac 1st rf 48 Un Po 1st rf b Union Paccv 6s. Virginia Ry st 5a.. Va Ry & P 1st 68 Wabash 1st Western Md 4s.... 21 Western Pacific5s 57 Wisconsin Cent 48 10 ) aNfivuan~orenda s R A S8 mamr S~ Butn omton =ce 9 93 93 80% 80% PARIS BOURSE UNSTEADY. | PARIS, March 6.—Prices moved if- regularly on the Bourse today. Three per cent rentes, 47 francs 85 centimes. Exchange on London, 92 france 85 centimes. Five per cent loan, 56 francs 85 centimes. The dollar was quoted at 19 francs 47 centimes. et g EARNINGS $3.81 A SHARE. NEW YORK, March 6.—Congoleum- Nairn, Inc., reports a manufacturing 100% | FINANCIAL. WEEK END SELLING "IN COTTON MARKET General List Eases Off in Spite of Good Spot De- mand. By the Associated Press. NEW YORK, March 6.—The cotton market cpened steady today at a de- cline of 4 points on October, but gen- erally 4 to 13 points higher in re- sponse to relatively firm cables and overnight reports of a continued good #pot demand.” Talk of better pros- pects for rain in the Southwest, how- ever, accounted for the relatively easy showing of October, and the general list eased off under realizing for over the week end. May sold off to 2685 and October to 25.35 before the end of the first hour, the general list showing net declines of about 12 to 18 points. Liverpool was a buyer of May here, but New Orleans and other Southern points sold. There: was a good deal | of commission house realizing or li- quidation. New Orleans Values. EW ORLEAN March 6.—The cotton market here opened a shade easier, despite Liverpool cables, than due. First trades showed losses of 4 to 5 points, and, although the market recovered a few points right after the call, it soon eased off again to 25.97 for May to 26.17 for July and 25.14 for October, or 10 to 13 points below vesterday's close. The easier trend was due to indications of rains in_the Southwest. Fall River reported sales for the week of print cloths aggregating 75, 000 pieces, but stated that the total might go to 100,000 pieces by Satur- day, as trade was fair. BIG DECLINE NOTED IN FERTILIZER SALES Drop of 399,037 Tons in South Re- ported During Past Seven | Months. By the Associated Press. NEW ORLEANS, la, March 6.— The amount of fertilizer sold In eight of the principal cotton - growing States for the seven months ended February 28 tas 399,037 tons less than in the same period last year, according to the antual figures made public here today by H. G. Hester, secretary of the New Orleans Cotton | Exchange. WOOL TRADE SLOW DURING PAST WEEK Bewildered Frame of Mind Exists Among Buyers in Boston Market. By the Associated Press. BOSTON, Mass., March 6.—The Com mercial Bulletin tomorrow will sa “The wool trade is in a bewildered still holding out against the decline. The market, however, has not been made by the strong holders. On some descriptions it is hardly possible to quote a market at all. There is a dis- position to awalt the London opening Tuesday and the resumption of the Australian sales, together with the showing of dress goods lines by the American Woolen Co. on Tuesday, which, it is hoped, will stimulate the market. Up to the present moment deniably slow, although have had the best of it. woolen lines RATES ON BAR SILVER. NEW YORK. March 6.—Bar.silver, 68; Mexican dollars, 52%, Washington Stock Exchange. ALES, s Light—3 at 08%, 4 at 58%, 10 at 58%. Monotype—10 at 8214 aler Linotype—10 at | 1 Mige. & Invest. prd. Washington G 10 at 5815 10 at 185, 3 00 at 94, 100 st bl Washington Market Co.—10 at L4 Georgetown Gas 55—$300 at 8. gton Rwy. & Llec. pfd.—8 at 81, 10 pital Traction Co. 25_at 8215 ington Gas Money—Call loans, 5 aud 6 per cent. BONDS. Bid and Asked Prices. Bid. American Tel. & Telga. 4s American Tel. & Telga. 4 Am. Tel. & Tei. etl. tr. Am. Tel. & Tel. conv. Anacostla & Potomac Gs. Anacostia & Potomac gus C.'& P. Telephone 55 & P, Telephone of ¥ apital’ Traction R. R. City & Suburban 5s.. Georgetown Gas 1st bs.. Potomac Elec. 1st bs. Potomac_Elec. cons Potome Elec. 85 1653 Pot. Elec. Pow. g m. & ref. ., Alex. & Sit. Ver. 3u.. D. C._ Paper 6s.. Pot. Joiut Stock L'd Bk, Riggs realty 5s (long).. Riggs Realty Bs (short) So . 5 ‘Wardman Park Hotel 6s. STOCKS. PUBLIC UTILITY. Washington Norfolk & Wi Commercial District Farmers & Federal-American Liberty Lincoln National TRUST COMPANY. American Security & Trust. Wash. Loan & Trust SAVINGS BANK. Commerce & Savings East Washingtos Security Bavings & Com. Beventh Street. Urited States American Corcoran Firemen's . Nationai Union MISCELLANEOUS. Merchants’ Transfer & Storage. Mergenthaler Linotype. . National Mtg. & Invest. pfd 0l Dutch Market com s a7 *1183 profit of $16,691,711 for 1924. Net in- come was $6,388,459, after interest, depreciation and Federal taxes, equal, 985 98y |after preferred dividends, to $3.81 a ‘ahare on the mo-par-value stock. 01 Dutch Market ptd. Lanston Monotype. Becurity Stors ‘ashington Yellow Cab. *Ex dividend. frame of mind, although some few are | the demand for goods has been un-| TWO TYPESETTERS AT HIGHEST LEVELS Mergenthaler, Selling Ex- Dividend, Reaches 185. Phone Earnings Slump. BY CHAS. P. SHAEFFER. The “typesetter twin: " Merthen- lhll!rvand Lanston, both established new highs on the Washington Stock Exchange today, with the former more conspicuous. Trading ex-dividend aga 1% per cent extra, the Hnotype sold to the extent of 20 shares at 185, a net Bajn over the previous e of full points. The issue wa. good de mand, the “bid” price at the close being 185, with an additional p asked Action of this favorite stock, which Is virtually of local origin, has ! the outstanding feature of the W, ington market during the weeks. Caught wholly unprepared by the extra dividend action of di- rectors, the issue has registered an advance of 14 points in the last month. Those on the inside claim the peak has not yet been reached Lanston continued its orderly ad- vance, reaching 82% on one sale of 10 shares. Washington Gas Light was strong, selling upward to 58%, while Capital Traction likewise gained to 923%. Railway common was bid up to 104%, with no sales, while the pre- ferred stock of this company off fractionally to 81 Market Compan broug and shares of National Mortgage and In ient preferred brought ds were neglected C. & P. Earnings in Slight Drop. Net income of the Chesape: Potomac Telephone Co. in Jan this year amounted to $119 of slightly more than $3,000 pared with the of last vear. over sh last few eased Washingtc 914 as com- corresponding month An increase of $48,626 December, 1924, however, is ¥n when the company earned only | 571,160, Total utilit operating of during the 8,236, as income the mo: ounted against $496,791 last vear, while total operating expenses aggregated $375,299, comparable with $337,244 last year. Taxes assignable to operations and uncollectible amounted to $42.201 Net_additions to plant and equip- ment, added during the montl amounted to $71,629.86 after retire- ments of $61,677.66. New Train Service om B. & O. The Baltimore & Ohio Railroad w put into operation on April 26 a nev { all-Pullman, solid steel train, to be known the National Limited, b tween Washington and St. Louis, whick will provide the shortest route and the quickest schedule between the two cities, according to officials of the company, and the first all- Puliman trains to be run by any rail- road between these citles The new train will be exa | counterpart, in everything but route and schedule, of the nationall known “Capitol Limited,” the pramic | train of the Baltimore and Ohio, start ied two vears ago between Balti and Chicago. Bankers to Attend Dinner. Washington will be ably repre the annual banquet of the Phi Chapter, American Insti jtomorrow night. &Graduates | 1ocal chapter who have signified their intention to attend, include H. W | Burnside, president of the Washing- {ton Chapter: W. W. Spaid of W. L. Hibbs & Co.; Harry V. Haynes, chair- man of the District of Columbia Clearing House Association: E. J. Mc- Quade, vice president of the Libra National Bank: Wilmer J. Waller, vice president of ‘the Federal-American tional Bank; Robert V. Fleming, George O. Vass and Avon M. Nevius vice president of Riggs, and C. kloff of the National Metropo! Bank More Engines Need Repairs. Class one railroad locomotives need of repair on February jamounted to 11,816, or 18.4 per cent of the number on line, the American Railway Assoclation reported today This number represents an increa of 502 over February 1. at which time there were 11,314, or 17.6 per cent Serviceable locomotives in storaze |on February 15 totaled 4,205, a de- | crease Offer on Phonograph Stock. Stockholders of the Columbia Pl nograph Company, Inc., have received an offer of $30 a share for 60 pe cent of their holdings. The offer is made by the Constructive Finance Company, Ltd., of London, which ac- quired the English branch of the business of the Columbia Grapho- phone Manufacturing Company sev- eral years ago, and which now seeks {egntrol of the American company. Stockholders have been asked to sig- nify their intention not later than March 25, in order that they may share equally. A committee headed by M. E. Burckner of New York has been appointed to prorate the shares to be taken by the prospective buyer Ford's Pay Roll Heavy. Henry Ford last vear paid more than a quarter billion dollars in wages*and salaries. The largest pay rolls were at the Highland Park and Rive Rouge plants of hte compa in Detrolt, the total for these t plants alone reaching the enormous amount of $172,820,145. The total of the Detroit district was $137,447,- 137. These figures include also wages and salaries paid at the Lincoln Mo- tor Company, a division of the Ford Motor Company; the C. E. Johansson Company, Inc, and the Fordson Coal Company. an Moody's Review. Moody's Weekly Review of Finan- cial Conditions in its curremt issue says. in part: “The raising of rediscount rates by the New York Federal Reserve Bank proves to be merely a perfunctory readjustment of the bank rates to the money market, and is corresponding- ly without influence upon the finan- clal situation. “Interest rates may harden a little this month in response to the financ- ing of the manufacturing and whole- sale phases of the Spring trade, but thereafter they should remain about stationary for some months. Com- mercial paper financing continues ac- tive through the Summer, however, and here rates may persistently harden a little. “In_view of the probability of rather large trade activity in the Autumn and of financial preparations for the same, it would not be sur- prising if prime commercial paper should get up around 4% per cent by June or July. Such an event if real- ized would have its bearing upon the bond market, because then bonds would have to meet the competition of commercial paper.” 3 BARNSDALL NET GAINS. NEW YORK, March 6—Net income of the Barnsdall Corporation for 1924 Increased to $1,265,908, equal to $1.77 & share on the combined Class A and B stock, compared with $181,848 or 25 cents a share in 1923, Gross sales were $10,209,274, against $9,283,885 the year before. STOCK ON $2 BASIS. NEW YORK, March 6.—Directors) of the Associated Gas and- Electric Co. have declared an initial quarterly dividend of 50 cents a share on the class A common stock, thereby placing the issue on a $2 annual basis.