Evening Star Newspaper, March 12, 1925, Page 28

FINANCIAE. ™ LOW-PRICED RAILS AT HIGHER LEVELS Run-Up in Western Pacific Arouses Interest—Rise in General Electric. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, March 12.—The stock market during much of the time to- day, was little changed from where it laft off Wednesday. The absence of such violent fluctuations as oc- curred in the St. Pauls, the Western Pacifics and Wilson & Co., preferred, on Wednesday, left the list dull and uninteresting by comparison The big speculation in the Western Pacific stocks subsided, but it had its sequel in higher prices for a number of other medium and low priced rails. Operations for the rise were resumed in special cases, while the general body of stocks did scarcely more than hold ateady Low-Priced Rails Move. Public enthusiasm for the low- priced rails which have been men- tioned among merger posibilities was aroused again by the Rock Island- St. Louis Southwestern deal. St Louis-Southwestern ran up nearly 3 points and Rock Island over The stocks most affected by merger xossip were the Missouri Pacific com- mon and preferred, Missouri-Kansas- Texas, Wabash {ssues, Wheeling and Lake Erie preferred, Seaboard Air Line preferred and Chicago and East- ern Illinois stocks. The Street has heard for some time about the Chi- cago and Eastrn Illinois as likely 10 pass into the Pennsylvania sys- tem. Today the story was varied to include Missouri Pacific. Western Pacific Tumhlex. The overnight view on Wednesday’s 16-point jump in Western Pacific common was that it had probably in- volved the running in of a short in- terest. Expert opinion was that any such price of 55 had a good deal more than discounted the stock divi- dend. There was a rush to sell to- day, under which the stock broke almost as violently as it had gons up. Public Utility issues were actively bought, largely in sympathy with the extraordinary advance in Utah Secu- rit This stock around 65 and pay- ing no dividends was one of the in- teresting spectacles of the market. There were reports that a new hold- ing company would be formed which would take in Utah Securities and other of the electric bond and share properties. An initial dividend of 25 cents a share was declared today on the new electric bond and share stock The continued violent upbidding of General Electric was not explained on any other ground than the much talked-of idea of a capital split-up. Allls Chalmers had a further rise above 83, and Famous Players went well above par. Ludlum Steel had a fair recovery. Markets at a Glance NEW YORK—Stocks, higher; Ameri- can Woolen lowest In scven years. Bonds, steady; several St. Paul is- sues recover. Foreign exchanges, ir- regular; sterling moderately higher. Cotton, lower; heavy New Orleans seliing. Sugar, steady: ‘rade buying. Cofice higher; steadier Brazilian re- ports. CHICAGO—Wheat, €asy; poor ex- port inquiry. Corn, lower; sympathy with wheat. Cattle, weak. Hogs, Ir- regular. TRAFFIC HOLDS UP WELLONW.,, B. & A. Report for 1924 to 1,300 Stock- holders Expected to Show Satisfactory Earnings. Speoial Dispatch o The Star. BALTIMORE, March 12.—With part of December’s returns estimated the Washington, Baltimore and Annap- olis-Electric Railway carried 4,479.919 passengers last year, compared with 4,644,472 revenue passengers in 1923, according to advance reports of the yearly statement soon to be issued. Despite the Industrial depression which occurred during the Midsum- mer. months of 1924, particularly noticeable in this locality, these figures would Indicate that the com- pany suffered but a small decline in passenger traffic. Increased rates sranted by the Maryland Public Serv- jce Commission in 192¢ were beneficial 1o the company only during the final half of the year. The company has 1,309 stockholders. Preliminary figures show that the pay roll in 1924 totaled $1,195,951, and that Federal, State and local taxes mmounted to $105.000. approximately FOREIGN EXCHANGE. J.ondon, pound Aontreal, dollar - Paris, franc Rrussels, franc Terlin, mark . Prague, crown Warsaw, zloty . Copen! Christiania, crown - Stockholm, crown | By the Associated Press. NEW YORK, March 12—Foreign exchanges irregular; quotations (in United States dollars—Great Britain, demand, 4.77%; cables, 4.78; 50-day bills on banks, 4.74%; France, de- mand, .05121%; cables, .0513: Italy, de- mand, .0405%; cables, .0406%; Bel- gium, demand, .0504: cables, .05043 Germany, demand, .2380; Holland, de- mand, .3991; Norway, demand, .153 Sweden, demand, .2693; Denmark, de- mand, .1802; Switzerland, demand, .1928; Spain, demand, .1418; Greece, demand, .0149%: Poland, demand, .13 ; Czechoslovakia, demand, .0296% ; Jugoslavia, demand, .0160%; Austria, demand, .000014%; Rumania, demand, .0050; Argentira, demand, .3962; Bra- zil, demand, .1120; Tokio, demand, «40%; Montreal, .99%. DAIRY iBODUCTS. BALTIMORE, March 12 (Special) — Live poultry—Young chickens, Ib., 25a35; Leghorns, 25a30; Winter chick- ens, 40242; old ‘hens, 24a283; old roost- ers, 16al7; capons, 35a42; young turkeys, 40245 old, 35; poor and crooked breast ducks, 25a34 geese, 23a26; pigeons, pair, 40; guinea fowl, each, 50a1.00. Dressed poultry—Turkeys, 1b., 35a 45; poor and ‘crooked breasts, 25; chickens, 28a35; old roosters, 18; ducks, 30a35; geese, 20a25; capons, 33245. Eggs—Receipts, 2,528 cases; native and nearby firsts, doz., 28; duck eggs, doz., 48a50; goose eggs, doz., §5a1.00. Butter—Good to fancy, b, 43a50; prints, 50a52; ladles, 25; store packed, 23; process butter. 31a32: dairy prints, 35a48; rolls, 23a25. Open. High. 66 66 102 104% 12 12 15 1% Abitibi Pow (4). Air Reduct (15). Ajax Rubber. Alaska Juneau. . Allied Chem (4). 87 88 Allled Cm pf (7). 118% 118% Allis Chalm (4). 83 84% Am Ag Chm pf.. 47% 47% Am Beet Sug (4) 39% ‘ Am Bosch 36% Am Brk Shoe (5) 99% Am Can (17).... 178% Am Can pf . 119 Am Car & F (12) 2284 Am Chicle. .. 45% Am Drug (60c). 6 Am Express (6). 145% Am & For Pow.. B0% Am&F P 25%(7). 120 |Am&FrPpf () 914 Am Hide & Lea.. 11% Am Hide & Lpf. 69% Am Internatl. . Am La Fran (1). Am Linseed | Am Linseed pt Am Loco (+18) Am Metal (3)... Am Radlator (4) Am Safty Rz (3) Am Ship & Com. Am Sm & Ref (6) 96% Am Snuff (12)... 147% Am Stl Fdys (3). 51% Am Sugar. 6444 Am Sugar pf (7) 100 Am Sumatra.... 124 Am Sumatra pf.. 884 Am T & Tel (9).. 185% Am Tobacco (7). 87 Am Tobac B (7). 86% Am Tobac pt (gv 104% Am WW&EI 30c. 37% Am W W pf (6).. 1017 Am Woolen..... 47% Am Wool pf (7). 88 Am Writ Pappf. 4% Am Zinc pf. .. 304 Anaconda (3)... 40% Ann Arbor...... 24 Ann Arbor pf. 45% Archer-Daniels. 34 Asso Dry G (5).. 178 Asso DG 1st (6). 99% Asso Oll (1%)... 854 AtT&SFe (7).. 128 AT&SFpf (5). 9 At BIrm & At... 6% At CoastL (19). AtGuif& WI... At Gulf & WIpf. Atlantic Refin. .. Atlas Powdr(4). Atlas Tack..... Austin-Nichols. . Austin Nic pf (7) Baldwin L (7) Bald Loco pf (7). Bal & Ohlo (5).. Bal & Oh pf (4). Bang & Ar (3).. Barnsdall A. Barnsdall B. Beech Nut (13) .. Bethlehem Steel Beth Stl pf (7). Beth St pf (8).. Booth Fisheries. Briggs Mfg(3%) Bkl Edison (8).. BkI-Man Tran.. Bkl Union G (4). Brown Sh pf (7). Bruns-Balk (30c) Burns Bro (10).. Burns BrB (2).. Bush Term (5). . Eutte Cop (50¢). Butte & Su (50). Caddo Central.. Cal Packing (6). Cal Pete (1%) Calif Pet pf (7). Callahan Zinc Calu & Ariz (2) Calumet & H (1) Can Pacific (10). Cent Leather. .. CRRNJ (112). Century Rib (2). Cero d Fasco (4) Certaln-Teed. .. Chand Mot (3) . Clies & Ohio (4). } Chi & Alton...... Chi & Alton pf.. Chi& EastIll... Chi & Est IlI'pf. Chi Great West. Chi Gr West pf.. Chi Mil & St P Chi Mil & S P pf. Chi & Nwn (4).. Chl RT& Pac. .. CRI&PPL(6). CRI&PDSf (7). Chi Yellow C14). Childs Company. Chile Cop (2%). Chino Copper-. .. Coca-Cola (7)... Coca-Cola pt (7). i Colo Fuel & Iron Colo Southern. .. Colo Sou 2d (4) .. Col G & B (2.60). Col G & Epf (7). Col Carbon (4).. Com Inv (2.50).. Com Solv A (4). Comi Solv B..... Congol-Nrn (3). Conley Tin Foil. Consol Cigar. .. Con Distributrs. Consol Gas (5).. Consol Textile. . Cont Can (4) . Cont Insur (6).. Cont Mot (80c). . Corn Prod (2) Cosden Co...... Crucible StI (4) . Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pf.. Cuba Dominican ban Dom pf. . Cuyamel Fr (4). Daniel Boone. .. Davison Chem. . Del & Hud (3) Del L&Wn (17) . D&R G Wst pf. Detroit Ed (8).. Dome Mines (2). Dupont (10).. Dugquesne pf ( Eastman (8) Eaton Axle..... Elec St Bat (15) . Emmerson B pf. End-John (5) Erle.... Erie 1st pf. .. Erfe2dpf..... Exchange Bf (2) Fairbks (2.60).. Famous PI (8) Famous pf (8) .. Fed Lt & T (7). Federal Mines. .. 17 Fed Mines pf (1) 50% Fid Phoenix (6). 158 Fisher Body (5). 62% Fisk Rubber. ... 12 Fleischmann (4) 77% Foundation (8).. 101% Foundatfon rts.. 14 Freeport-Texas. 8% Gardner Motor.. 13% Gen Asphait.... b& Gen Asph pf (5). 94 Gen Cigar (8)... 95% Gen Cigar pf (1. 111% Gen Gig deb (7). 109% Gen Electric (8) 268 Gen El spl (60c). 11 Gen Motors (6).. 72% Gen Mot pf (7).. 1074 Gen Petrol (2).. 856 Gimbel Bros.... 48% Ginter Co (1%). 27 Glidden Co 16% Gold Dust. 40 Goodrich....... b2% Goodyear pf.... 98 Gdyear prior (8) 107 Granby Consol.. 17% Grt North pf (5). 68% Grt Nor Ore (4). 86% Grt Wstn Su (8). 98 Greene Canan... 15% Guantanamo.... 5% Gulf Mo & Nor.. 26% . 108% 116% 109 146 17 52 158 634 12 79% 1027 _1% £ 15 b5'% 94 % 1% 109% 277z 11% 72% 1075 55% 48% 27% 16% 41% 52% 98 107 17% Gulf St Steel (5). 88 Hartman (2%).. 80% Hayes Wheel (3) 85% Hoe & Co A (4).. 47 Homestake (17). 44 % 135 Tau Low. Close. 66 66 102 108% 12 12 1% 1% 87 88 118% 118% 84% 47% 991 994 177% 177% 118% 118% 4 22219 224% 46l 464 5% 6% 145% 145% 80% 82% 121 1% 1% 71% 12 96% 9T% 147% 147% 5l BlW 641 65% 100 100 115 12% 36% 6% 1854 88 874 87 86% e 104% 104% 37% 41% 1017% 102% 44% 45% 87 4% 30 40% 25 45% 34 182% 351 364 123 1284 9% 9 6% 7 159 159 824% 34% 404 42 107 110 50 50 11 11% 27% 27% 9% 91% 1354 137% 13 13 80% 81 65 66 38 384 27% 211 66% 44% 95 204 5 128 42% £0U 899y 38% 954 18% 9% 6% 19% 128 @y £0% 99% 394 97% 19 92% 65 19% 1% 1% 104 104 314 31% 111% 113 3% 3% 50% 60l 15 15 147% 148% 18- a8 300 800 45% 45% 48% 49% 44% 4% 32% 33 84% 95% 9% 9y 15% 17 34% 35% 49 B50u 12% 13w 28% 28% 8% 9% 164 17% 67% 68 6l b2u 884 88 98 98 52 62 54% 55 33% 84 22% 224 90% 90% 100% 101% 42% 43% 564 56% 57 67 55 564 105% 106 4T% 47y 65 65 41 145 139 1423 39% 39y 3 3 2% 27% T 6% 764 3% 3% 63% 637 111% 111% 9% 9% 40 40 81% 31% 75 6% 81% 31% 13% 18% 59% 604 6% 5% 40% 41% B4 b4 3% 3% 43 43 14115 141% 136% 138 42 43 118% 118% 15 16 144 146% 106% 106% 111% 111% 15% 15% 5% 65% 12 12 6T% 68% 31% 32 417 41% 39% 395 16% 16% 37% 38 98% 101% 108% 109 145% 146 17 17 50% b2 168 158 62% 634 11% 11% 7% 9% 101% 101% 1% _ 1% 8% 13% 13% 56 b5 94 94 96% 95% 111% 111% | 109% 109% 267 ° 276 11 1% 2% 72% 107% 107% b4% b54% 48% 484 27 2Th 14% 15 40 41% 52 52% 96% 9T% 107 107 17% 17% 68% 684 36% 3% 98 98% 15% 16% 5% 5% 26% 27 88 88 80% 381 4% B4% 47 47 44 a4 THE Open. High. House P (13%3)...36 86 Houston Oil 7% 78 Hudson Man . 23% 24 Hudson Mot (3). 43 44 Hupp Mot (1). 4% 15 Illinois Cent (7). 116% 116 Independ Ol (1) 81% 81% Indlan Motorcy. 14 14 Indian Refining. 8 8 Inland Stl (2%). 45% 45% Inspiration Cop. {26% 26% Interb Rap Tr... 264 Internat Agri... 9% Int Bus Mac (8). 119% Int Cement (4).. 51% Int Com Eng (2). 4l% Internat Har (5) 104% Inter Har pf (7). 114% Int Mer Marine.. 11% Iut Mer Mar pf.. 44% Int Nickel. 26% Int Paper. . 40% Int Pap pfst (6). 72h Tnt Ry Cent Am. 18% Int Shoe (5).... 118 Int Tel & Tel (6) Int Tel & Tel rts Jewel Tea pf. Jones Bros Tea. Jones & Lau (7). Jordan Mot (3). Kansas & Gulf.'. KCP & L 1st (7). Kan City South. Kan C So pf (4). Kayser (Julius). Kelly-Spring. Kelly-Spring pf. Kennecott (3).. Keystone T & R. Laclede Gas (8) . Lee Rub & Tire. Lehigh Val (3%) Liggett & M(t4). Lig & Myrs rgts. Lig & My B (t4). Lima Loco (4) Loews Inc (2)... Long Bell A (1). Loose-Wiles. Lorrillard (3) Louisiana Oil Louis & Ludlum (2) Mackay pf (4).. Mack Treks (6). Mack T 1st (7).. Macy H R & Co Magma Copper Mallinson & Co Man El Sup (4) Man E1 md(3%). Man Elev gtd. . . Man Shirt (1%). Man Shirt pf (7) Manila Electric. Maracaibo Oil. .. Market St prior. Marland Oil..... Martin-Pry (4). Mathieson Alka. Maxwell Mot A Maxwell Mot B. . May Dept St (5). Metro G pf (1.89) Metro Ed pf (7). Mexican Seabd. . Miaml Cop (2).. Middle States. .. Midind Pr pf (8) Minn & St Louis. Min St P & SSM. Mis Kah & Tex MEK&TDt (5).. Missourl Pacific. Missour! Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3) Mother Lode 7 Nat Biscuit (+4). Nat Dairy (3). at Dpt Stores Nat D Nat Enamel & S. Y Central (7). YC&StL pf (6). N Y Dock.... NY NH & Hart NYO& Westn.. Norfolk South. . Norf & W (18).. North Am (3.40) orth Am pf (3) North Pac (5). Orpheum (1.80) . Otis Elev (153). Otis Steel. Owens Bo Pac Coast 2d pf. Pacific Gas (8).. Pacific Oil (2).. Packard (111). Packard pf (7).. Pan-Amer (6).. Pan-Amer B (6). Panhandle...... Park & Tilford. Pennsy RR (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4) ... Pere Mar pf (5). Phia Co (4) Phia Co pf (3).. Phila& RC&I. Phillip Morris. . Phillips Pet (2). Pierce-Arrow Pierce-Arrow pt Pierce-A prior 8 Plerce Oil... Pierce Petrol Pitts Coal...... Pitts Term Coal. Pitts Ut pf $1.20. Pitts & West V. Postum-Cer (4). Press Steel Car. Pr St Car pt (7). Prod & Refiners. Pub Ser N.J (5). Public Serv rts. Pub Serv rts (n) Pub S Gas pf(€). Pullman Co (8). Punta Al Su (5). Pure Ol (1%).. Radio Corpof A. Radio C pf (3%) Ray Cons Cop, Reading (4) Reading rts Reading 1st (2). Remington Type Replogle Steel. . Rep Ir & Steel .. Rep1& Spf (7). Reynolds Sp (1). Rey Tob B (3). Rossia Ins (6) . Roy Duth 4.42%. St Joseph Ld (2) StL & San F (5). St L Southwest. St L Swn pf (5). Savage Arms Schulte (*8). Seaboard Air L., 23% abd Air Lpf.. 89% ars-Roebk (6) 166% Shell Un (1.40).. 25 Shell Un pf (6). . 101 Simmons Co (2). 834 Simms Pet (50c) 23% Sinclair Oil 204 Skelly Ol 27% Sloss-Sheff (6).. 88 South Port S (6) 70 South Pac (6). .. 104% Southern Ry (5) 88% South Ry pf (5). 884 Spicer Mfg...... 18% Std Gas & El (3) 46 Std Gas & Elpf. 53 St Oil Calif (2).. 61% StOIINJ (1)... 424 StOiINJ pf (7). 11T% Std Plate Glass. 12% Sterling Pr (15). 63% Stew Warnr (5). 68% Studebaker (4). 444 Submarine Boat. 10% Superior Oil.... 4% Symington. 18 Symington 22% Tennessee Cop. 8% Texas Co (3). 46% Tex G Sul (17%) 110 Tex & Pacific... 52% Tex & PacC& O 18% Timken (13%).. 40 Tobac Prod (6).. 76% Tobc Prd A (7) 9 Transcont Oil... _ 4% 13% 104 65 89% 27% 6915 24% Y 94 1381 4 30 ol 52 14% 6 214 86w 67 17% 66% 90 18% 5 17 63% 4% 1% [ 72 97 uL EVENING 119% 574 40% 106% 114% 1% 42% 26% 49% 73 18% 118 924 4 108% 17% 114 50% % 101% 38% 59% 21% 15% 46 50% 2% 161% 12% 7 60% 8% 59% 69% 26 46% 90 354 | 18% 112% 2h 67 1384 | 108% 6% 39% 27% 564 49% 80 26 106 29% 294 5% 4% 81% 64y 87 5644 107% 20 1004 15% 12% 1% 103% 5% 4“ 87% 834 | 384 B1% 69 46% 4% % 684 | charge tnat Public Printe 468 433 100 663 3414 157% 4% 109% 14 1175% 120% 9% 264 83u 6% 244 130% 4744 484 684 284 971 9% 6% 50 106% 5915 18% 1084 8% 79% | 4% | 31 47 2 116 70 74 ba 41 a7 184 41% 12% 48% 20% 2% 7 50 58 13% 6944 103 67% 88% 27% 2% 26% % 945 138 434 20% 59% b2 18% 9% 21% 865 67% 17% 56 90 14 4% 97 8 46% 1% 524 4% 95% ut 234% 40% 155 26% 101 83% 23% 20% 27 88% 70 104% | Federated Metals TAR, WASHINGTON, D. C., THURSDAY, MARCH 12, 1925. NEW YORK sTockK EXCHANGE | |BETTER TONE SEEN Received by Private Wire Direct to The Star Office N BONDS TODAY Yesterday’s Drastic Selling Appears to Have Been Placed in Check. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 12.—Interest in today bond market as confined to a few special issues, most of them more or less speculative. Activity continued in the St. Paul group, but fluctuations were not as wide as on Wednesday nor was the selling so heavy. More attention was paid to the refunding 4148, the long- term issue, on which interest falls due on April 1 next. These were ex- tremely erratie, differences of as much as two points sometimes com- ing between sales. Merger Gossip Helps Bondn. The strong feature was the Chicago and Eastern Illinois 5s, which ran up over two points, approaching their high of the year. The report had it that the Pennsylvania purposed ac- quiring control. International Great Northern adjustments recovered & point from the Wednesday close and Missouri-Kansas-Texas adjustments did the same. Missouri Pacific gen- eral 4s likewise advanced a point, and were more than usually active. There was some improvement in the St. Louls Southwestern consolidated 4s and Terminal §s in response to the news of the acquisition of control by the Rock Island. St Louis-San Francisco prior lien A 4s were firm around thelr recent high, and the in- comes and adjustments made frac- tional advances. There was a run up in Denver and Rio Grande Western 5s. Liberties were a shade higher and Chicago Rock Island Pacific refunding 4s crossed S7. Detroit Uniteds Sell Off. Detroit United 4%s, which were a feature Wednesday on the news of the receivership, sold down today. The per cent notes of 1929, for which the market is “over the counter” were weak. Local tractions were heavy and 0 were copper bonds. Jugoslav Ss led the foreigns up at one time nearly a point Today's new issues included $2 000,000 Pittsburgh, Cincinnati, « cago and St. Louls general 5s of 1975 at a price to yield 5.06 per cent and $7,000,000 Utah-lIdaho Sugar first mortgage 6s due serfally to yield from 5.50 to per cent LEGAL VIEWS ASKED ON CARTER'S STATUS The Department of Justice has been asked by the White House to con- sider statements made in a petition submitted in the name of the Colum- bia Typographical Union protesting against the dismissals at the Gov- crnment Printing Office, including the Carter is ineligible to hold that offi torney General Daugherty resulted A similar charge. made near two years ago, which was referred to At- in an_opinion by him to the effect that Mr. Carter's appointment was not in violation of law. It is understood also that the De- partment of Justice has been asked to advise the White House as to the legal phases of the alleged violation by Mr. Carter of an executive order glving precedence to ex-service men. SHORT-TERM SECURITIES. (Quotations farnished by Redmong & Co.) —Noon ——, Bia. Asked. Aluminom Co. of Amer American Sugar Ga 165 Angio-American 0il T Autoctated Oi1 6s 1033 Central of Geo : Cent. Leather 38 April Chi., Mil. & St. Panl 8 1 Chi., R. I, & Pac. 58 19: one 6 1934........ | & Elec. st 5a 1027 Gas & Flec. 53 1927, 1653 1939 Goodyear T. & R. 8 1 Great Northern 7s 1936.. o Guit 0Nl Corp. of Pn_ Tia 1025, Humble 0l 558 193 .. Lebigh Pow. Sec. Corp. 6s 192: .M 6150 1981, Federal Sugar Ref Oregon Short Line 48 192 Penna. R. R. 7s 1830.. Pure 011 533 August 192 Switt & Co. 58 193: Tidewater Ofl 6158 1931 Unlon Tank Car fs 1830 U. &. Rubber 73 3 1063, Western Unfon 6i5s 1936, ... 1101 Westinghouse E. & M. Ts 1931.. 107 Fisher Body Corp. 6 1927 called for pay- ment February 1, 1925, at 1014 Fisher Body Corp. s 1928 called for pay- ment February 1, 1925, at 102. —_— UnionOl....... % % % 4% Union Of (1.80). 39% 40 39 394 Un Pacific (10).. 146% 147% 1464 Un Pacific pf (4) T4% 74% 74% T4% Utd Alloy Steel. 31 821 31 Utd Clgar (13%) 78% 76 73% Utd Drug 1st 3% 6214 5215 5215 Utd Fruit (10).. 210 210 Utd Ry Invest... 22 22 Utd Ry Inves pf. 53 52 U S Cast Iron P. 224 222 U S Distributing 84 34 USHoff (2).... 28% 23% USiIndAlcohol. 82 8174 U S Realty (8).. 123 122% U S Rubber. 40% 404 US Rub 1st (8).. 95% 95% U SSmelting.... 31% 31% USSmpf (3%). 45 44% U S Steel (17)... 123% 128% U S Steel pt (7). 128 12245 Universal Pipe.. 411 39% Univer Ppf (7). 84 83 61 60% 67 Utah Securities. Vanadium. . 27% 274 284 Va-Caro Chem.. 2% 2% . 28 va-Caro Chpf.. 11 185+, 11 9 79 81% 1% Va Ry & Power. . 1% 1% 24% Vivadou. ... 24% 26% 63% Wabash. ... ‘Wabash pf A. 63% 65% 45 45 454 16% Wabash pf B. Waldorf (1%) 16% 16% Ward Baking B. 40% 0% 41% 98% 984 994 12% ‘Ward Bak pf (7) . 12 12 108 X s Wells-Fargo. ‘West Pen (4) . 108 114% West Elc pf (7). 115% 115% 116% West Maryland. 144 146 144 West Mddpf.. 204 204 20% % 99% % 46% ‘Western Pacific. 95! 95 121 4 s i o0, s o 75 22 52 85 83 40% 83 885 89 1% 46 53 61% 2% 17% 13 634 674 4w 10% 4% 18% 22% 6% 8% % West Pac pf (6). West Union (7). 121 121% West Alr Br (6). 105% 105% 106% Westinghse (4). 72% 1% 78 Weston Elec.... 10% 10% 10% Weston Elec A.. 20% 20% 2% Wheel & L Erle. 144 U 14 Wheel & LEpf. 27 27 28 ‘White Eagle (2). 27% 274 27% White Mot (4).. 63% 63% 63% Wickwire Spen. % %8 8 Th 8% 22% 26% Wilson & Co. ... Wi'son & Co pf. 224 20% 20% 20% 11% 12% \Vellon ctfs. Willys-Overind. 11% Wills-Over pf... 83% 83% 85 ‘Woolworth (3). 115% 115% 116% Worthington... 68 66% 66% Worthington B. 72 72 72 Wright Aero (1) 18% 18% 18% Yellow Cab 2.52. 87 37 37 87 Youngstn S&T.. 73% 173% 1731 {Partly extra, iPayable in preferred stock. Dividend rates Eiven in the above table are the annual cash payments based on the latest quarterly or haif-yearly declarations. Unless otherwise 3oted, extra or dividends are not included. % 8% 25% 20% 124 85% 116% 6915 72 18% I N NEW YORK BONDS STOCK EXCHANGE I Received by Private Wire Direct to The Star Office, UNITED STATES BONDS. (Sales are in $1,000.) Sales. High. Low. . 183 10115 108 101 21 945 100 27 728 10117 210 10126 €6 100 18 12 104 24 Lib3%s Lib 1st 4 Lib 2d 4% Lib 3d 4%, 44ys US 481944, US4%ss2 101 10 101 16 100 23 101 12 101 24 100 17 104 24 FOREIGN. Sales. High Argentine bs. . Argentine 6s A. Argentine 6s B. Argentine 7s Austria Ts.. B Bank of Japan 6s. Belglum 6s....... Belglum 6128 wl.. Belgium 7%s Belgium §s Berne §5. Bolivia §s. Bordeaux 6 Brasils....c.... Canada 55 1926. BRaslge.. . ... . Canada 55 1931 Canada bs 1952, Canada Gl4s 1929, Chile 75 1943 Chile 88 1926 Chile 85 1941 Chinese Gov Cubasls. ... ... Czecho 8s 1952 ct. . Danish Munic 8s B Denmark 6s...... Denmark 8s. . D EI5%s Nov '53. Dutch East I 65’47 Dutch East I 6562 El Salvador 8548, Finland s f 65 '45. . Framerican 7%s. . French 7s French 714 French 8s German s Ger Gen Elec 7s. Greek Ts. Haiti 68 s Holland-Amer 6s. . Hungar: Japanese 4s. . Japanese 61s. ... Jergens U M 6547 Lyons6s........ Marseille 6 ontevideo 7 therlands 6 Netherlands 6s ‘7 Norway 65 1943 Norway 65 1944. Norway 6s 1952 Norway 8s... Orlent Dev deb Paris. Parl! Paris Orleans Ts. . Poland 6s '40. Poland 8s '50 Prague Tis. ... Queensland s Queensland 7s. ... Rio de Jan §s 1946. Rio Gr Do Sul $s Sao Paulo State 88 Seine Dept of 7 Serbs Crot Slo 8s. Soissons 6s 17 9 1 57 13 11 7 pLY Ud Kingm 513537 102 Uruguay Ss. Zurich §s. 2 9 Low. 83% 96 96 102% 96% 9912 86% 93% 109% 107% 108% #3% 964 96% 102% 95% 99% 864 93% 109% 107% 108% 85% 0% 95 90 104% 110% 94% 96 100 8814 857 86 991 103% 1014 115 115% 106 108 109% 1 116 108% 108 109% MISCELLANEOUS. Ajax Rubber 8s. .. Am AgrChem 5s.. Am Agr Chem 7%s Am Chain sf 65°33. AmSmit & R 1st 55 Am Smit & R €s. Am Sug ref 6s AmT&Tcltrbs AmT&Tstbs AmT& Tdebsiss AmT& Tcvés. ... Am Water Wks b8 Anaconda 1st 6s. .. Anaconda cv db Ts. Andes 7s 25% pd.. Armour & Co 4148, Armour Del 5135, . Assoclated Oil 65 Atlantic Refin 5s Bell Tel Pa bs. Beth Steel pm 5s. . Beth Steel rf 5s. .. Beth Steel 5145 '53. Beth Steel s £ 6s. .. Brier H St 1st 5145 Bklyn Ed gen 5s.. Calif Pete 6145. Chile Copper 6s Col Gas & El 5s. Col Gs & El 55 sta. Commonwth P 6s Con Coal Md 1st 5 Con G NY 548 wi. Consumers Pow 5s Cuba Cane cv 7s. .. Det Edison 5s '40 Det Edison ref 6s. Donner Steel Du Pont de N 7%s. Duquesne Light 6s Est Cuba Sug Empire G&F 7 Feder Metls 7s '39. Fisk Rubber 8s Gen Elec deb 5s Goodrich 634s. . Goodyear 8s 1931 Goodyear 88 1941 Hershey 65 1942. Humble O&R 5%s. Illinois Bell 1st 5s. Tilinois Steel 4148 Indiana Steel 53 Int Mer Marine Inter Paper 58 K C P& Lt 58A" Kan G & El 6s°'52.. Kelly-Spring 8s. Lackawa S 58°50. . Lacl G ref 55°34. Laclede G 5%s '53. Liggett & Myr: . Magma Cop cv Manati Sug sf %S Midvale Steel 5s. Montana Pow 3. Mor's&Co 1st 4338, N Y Ed 58’44 wi. NYG EL H&P 4s.. NY Tel 68 '41 N Y Tel 65°49. .. North Am Ed 6s. North Am Ed 6% Nor Ohlo T&L 6s Nor States Pow bs. Nor States Pow 6s. Otis Steel 718 Otis Steel 8s. Pacific Gas & E15s Phila Co ref 6s A Phila & Rd C&1 55 erce-Arrow 8s.. Producers & RIS, Public Service 5s. . Public Service bs. . Sharon St1 H 8s Sinclair Oil 68 Sinclalr Ofl 6%8. ... SinclairOfl 7s. . .. Sin COP Li6s’28.. sin Pipe Line b Skelly Oil 6%s. . South Bell Tel 55 So Por Rico Sug Southwest Bell 55 Sug Est Orfent Tenn Elec Pow 6 Tide Wat Ofl 6% Union Bag & P 6s.. United Drug s U S Rub 1st rf 53 U S Rubber 7% U 8 Smelter U SSteels £5 Utah Pow & Lit 5 Va-Car Chem 7 Va-CarCh 7%s w. Vertlentes Sug 7s. ‘Warner Sug 75’39, ‘Warner Sug 75 "41. West Elec b 5 West'n Union 6%s ‘Westinghouse 7s. . Wilson & Co 1st 6s. Wwilson & Co cv 6 Wilson&C ov 7% Winchester A 7345, 060 00 15 1 O 1t 21 00 19 U1 it i 1 00 O et 1 - 2 5 24 7 19 5 11 11 64 19 4 15 23 16 119 19 19 61 9 . 30 1 1 11 6 230 9 o e nROERLOE - 5 om o838~ el NRaNS 12 2 10 17 2 25 5 8 4 6 3 g 1 5 2t 2 2 12 1 20 5 6 4 14 22 5 99 101 100% 084 96% 106% 102 100% 95% 10244 126% 95% 100% 101% 9814 8714 925 1024 994 100% 91% 964% 88 95% 99% 100 10314 106% 100% 100% 100% 8715 101% 94 97% 100 10744 91 107% 106 106% 102% 104% 111 103% 1044 109% 120% 104% 1018 98% 941 102 89 88y 97% 100 97% 94 o9 100% 100 9814 96% 106% 101% 106% 95 1017% 126% 95% 100% 101% 97% 87 9215 1023 99y 100 1% 964 88% 7% 100 97% 98 99% 98% 119% 120% 101 0% 9% 834 100 86% 106% 108% 100% 103% 95% 95% 105 94 98% 045 99% 94% 112% 104% 100% 94 110% 1044 96% 106% 111% 87% 9% 100 84y 113% 99% 102% 98 965 101% 103% 95 101 86 106% 101 105% 24 85% 49% 94 81% 93% 98% 110% 107% 4% 7 T0% 101% 101% Youngstn S&T 6s.. 15 98% 98 2:50. 102 15 10116 100 27 10117 101 26 100 18 10424 2:50. 83% 6 16 102% 95% 99% 864 93% 109% 107% 108% 93 84% 83 101 96% 102% 10313 102% 100% 102% 107 44u 20% 9615 9874 99% 109% 101 110% $T% 100% 100% 104 MAILROADS, Sales. High. Low. 9 65 66 2:50. Ann Arbor 4s. 65 Atchisonadj4s.... 7 83% 83 88 Atchison gen d4s... 47 89% 894 89% AtlanticC L1st4s. 3 81 91% 9% Atlantic C Lol 4s.. 15 86% 86% 86% Atlan C L 4%s'64. 47 91k 914 91% AtlantisC L 1 106% 105% 106% B&Ogoldds..... 11 88% 884 B88% B&Ocvits..... 24 9244 92% 92% B&Oretbs.. 13 894 89% 89% B& O lIst5sct 46 101% 101 101% B&OSs.. 37 103% 108% 103% B&OT! imp 6s....100 1024 102 102% B & O Toledo 4 9 69% 69% 69% Bklyn-Manhat 65,109 86' 85% 854 Buff R & Pitt {%s. 4 86% B6% 86% Canad North 6%s. 19 118% 118% 118% Canad North 7s... 1 116% 116% 118% Canad Pacdeb 4s.. 16 79% 79 7¢% Centof Ga6s...... 3 103% 108% 10%% Central Pacific 4s. 8344 884 88k Ches & Ocvilgs.. 40 Ches & O gn 4% Ches & O cv bs. 964 B9% 104% 54% b1 20 101% 84 92% 78% 681 54 57% 50 52% 78 50 b4t 98 85% 100 856% 814 7545 92% 116% kil 97% 9743 96 103% 99% 984 e 98Y 961 #9% 99% 104% 1083 5% 52 51 bl 90 90 101% 101% 84 84 924 924 8% 764 63% 62 55 b4 57% 54 61 50 53% 524 78 1% 50 4T 545 58 981 96% 85% 85 101 100% A5% 854 874 BA% 76% Tbla 2% 92% 116% 116% 8% 18 98 9% 974 9Tl 96% 96 103% 103% 99% 99% 9814 9844 874 87 89% 83% 104% 103% 1024 102% 8315 83% 98% £3 59% 69% 885 88 % 36 71 64% 6414 raw 66% €6%IK66% 66% 661 L6k 3% 3% 3% 104 104 104 96 95 96 107% 107t 107% 116% 116% 116%4 100% 100% 1005 116% 110% 110% 15 15 15 BB B7% 874 N TN TI% 91 90% 91 104% 104% 1044 103 103 103 9S4 98 98 685 68% 68% 67% 674 67% 734 731 784 92% 914 2% 104% 1044 104% 72 MK T 62 62 84 84 894% 89 84w B4% 984 98 96% 961 9ok 80% €0 &0 5100 99% 100 9314 934 Y3y 106% 106% 106% 62 62 62 874 87% 814 8% S8 88 4% 4% TN 85% 85 85 914 914 91% 654 64 641 100% 100% 100% &84 88 Belg 101% 101 101 964 961 9614 614 61 614 924 921 9214 94% 944 94% 100% 1004 100% M 1w TN B4k 841 e 94k 94k 841 101% 1007 1014 113% 113 1184 76 4% _15 95% 94% 95y 59 59 53 90% 90y 90y 99% 99% 9u4 68 68 68 49% 49 49y 5 5 5m 4'% 4% 4% 65% €5 654 65 64% 64y 131% 1304 1314, 6l 61 61y *hi B&Q gn 48 '58. ‘hi B&Q 1st rf B &Q-11l 318 B & Q-Olldiv Elgnbs.. reatWest 4s. ] Qe (213 ZRCOHIIR LR Cleve Term 5s.... C&Slst4s'29.. Cuba R R 5s . Del & Hd 1st rf 4s. Del Hud cv 58 '35 Del & Hnd 513s.... Den & Rio G cn 4s. D & Rio G imp 5s.. D & Rio G Wst 5s. Det United 413s... Erie 1st cons 4s 8% | 104% 102% 83% 9344 59% 884, fe conv 4s A.. fe conv 43 B. Erie conv4sD. . Erie Genessee R 68 Erie (Pa) cit tr 4s. Gr Trunk sf db 6s. Grand Trunk 7s. GrNorth 53%s..... Gr North gen Ts. .. Green B& W db B. Hud & Man ref 5s. Hud & Man aj 5 111 Central ref 4s Central 5145 C St L&NO Int Rap Tran 58. Int Rap Tr 5s stpd. Int Rap Tran 6s. .. Int Rap Tran 7s. .. Int & G Nor 1st 6s. 62 4 89% Ry o8 Towa Cent 1st 58 Kan City FtS 4s Kansas City S 53 Kan Cy Term 4s. .. Laké Shore 4s'28 Lake Shore 48 31. . Lehigh Val cn 4s. . Lehigh Val 5s 2003 Louis & N uni 4s. .. Louis & Nash Ts. .. Manhat Ry cn ds.. Ml EIRy & Liss. .. M StP & SSM 5%s. MK&T4sB MK & T adj 5 MK&ToprinbsA Mo Pacific gen 4s. .1 Mo Pac 58 1926. . Mo Pacific 58 '6; Mo Pacific 6s. . Montrl Tm 1st Nassau E Ry 4s NOTex&M5sB.. N O Tex & M in5s. NOT&M5%s Cen gen 3%s.. Centcn 4598, Cent deb 4s. Centri Cent deb 63 N Y Cent LS ¢l 3%s NY NY NY NY NY 5 New Haved6s. . New Haven 7s fr NY, Ont W 1st 4s NY Ry rf 4s ctfs New York Ry aj 58 NY Rysadjssct.. 20 N YState Ry 4ls. 4 NY W & Bos 4135.. 46 Norfolk & W cv 65.197 Northern Pac3s... 3 Northern Pac 4s. 3 Northern Pacss D 12 Northern Pacr | 68 Ore & Calif 15t 5 Ore Short Liref 4s. Ore Sht Len 55°46. Ore-Wash st rf 4s Pennsyl con 4%s.. 1gen 4138, . y155°64..... 1gen 55 Pennsyl 6. Pennsyl gold 7s. Pere Marq 1st 58 Por RL & P 65 '47. Reading gen 4148, RIATk & L 4%s.. St LIM&S 45'29... St LIM&S R&G 4s. StL&SF pl4s A. 100 StL&SFprinbs. 10 StL&SF5%sD.. 9 St L&SFadj6s.. 26 StL&SFincés.. 25 StL&SFpl6ésC.. 15 StLS W ist4s.... 10 StLS Wcon4s'32 26 88% StP&KCShL4%s 2 83 82y gy St P Un Dep 53 3 101% 101% 101% Seab'd ALref4s.. 43 654 64% G5l Seab'd A Ladj 5s.. 50 76% 75% 76y Seab’d A Licon6s.. 16 89% 89y gos Sou Pacific4s'29.. 12 97 97 g7 Sou Pacificclt4s.. 4 85% 8% &5k Sou Pacific ref 4s.. 30 90% 89% 901 Southern Ry gn 4s. 82 774 76% 17y Southern Ry 18t bs 8 101% 1014 1013 Southern Ry 6sct. 5105 1034 105 Southern Ry 6%s. 8 109% 109% 1094 Third Ave ref 4 85 65 G5 Third Ave adj 53. . 2% 424 42y Union Pac 1st 4s 93 93 93 Union Pac 1st rf 4s 864 864 864 Union Pac 4s '27. 98% 98% 98% Un Pac IstTf5s... 4 1054 106% 105 Unlon Paccv 6s... 6 103% 108% 1037 Virginia Ry 1st 5s. 06% 96% 96% | VaRy &P 1st 5s. . 9. 95 95 ‘Wabash 1st 58 . 101 101 101 ‘Wabash 2d 5s 96 96 96 Western Md 4s.... 65 64% 6% Western Pacific 55 93% 93 93y West Shore 18t 4 83 83 Whel & LE rf 4% % 7 70 Wisconsin Cent 4s 81 8L g1 96% 96% 105% 104% 104% 824 f2 Foug 9% 99% 99y 94k B4 9414 97% 974 9714 1034 103 103 110% 110% 1104 109% 1094 1091 98% 98k 98y 974 97K 97y 93% 93u 9% 86% 80% 867 9k 94 ggy 87 86% 8% %% 75 15 88% £8% BRY 975 9T% 973 88 RTM gg 81% 80% 103 103 81 TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) % ——Nooo.——— Bid. Offer. s June 15, 1825........ 100 11-32 100 7-18 s Beptember 15, 1925.. 992782 003132 s December 13, .. 100 29-32 101 1-82 March 15, 1923, . September 15, 1926. t March 15, 192 101 1015 10027-32 100 31-32 December ' 15, 1t 101 27-32 101 81-32 101 27-32 101 31-32 CLOTH SALES PICK UP. NEW YORK, March 12 (Special).— Cotton goods markets were more ac- tive today, but prices remained gen- erally unchanged. Print cloth quota- tions were 9% cents for 64 by 60, and 11% for 68 by 72. Raw silks declined % to 10 cents a pound in a slow mar- Wheat Av By the Awsociated P: pool here averaged light and shipped and from % cents ing being don unchanged to to well below influenced by as a substitute % cent off 50% to 50%, tendency to ha WHEAT— Ju September LARD. tember 1BS— May July EW YORK, of 7 points. covering by the start, 3 to 15 points call under ren, moted by in east Texa: oft to 25.65 NEW ORLE. as due, easier start, were 1 July or down 12 of the first the low: BALTIMORE, cial).—White and kale, sprouts, quart, 12.00220.00; carrots, 100, crate, 2.00a3.00 3.75; eggplant, crat 3.00a: 7.00; oyst. parsnips, a7.00; spinach, radishe: bushel, 1.75a2.75; 1.00a2. port, no quotati spot, domestic, Winter, no quot at 1.80. 2, 1.38. Sales—None, Rye—Nearby, spot, 1.48%. Hay—Recelpt: liberal the buying. price. 20.50221.50; 1 light o. 19.00219.50. ton; No. straight rye, 18 corp. Am Typ cm & pf Anglo-Am of & A Can Locomo pf. Chandler Motor. .. COCaStLem and pf. Devoe & Ra: Do. 1st & 2d pt G'year T & R pf. Tillaots N. Util pt Kentucky Secur. Do. pf. Kresg Dept 5t Bt Kress (8. H.) pf, Liggett’s Inter pt rd Rad C1 A Nat Bupply pf. Nor 8t People’s G Plymouth Cordage Porto R Rys pf Safety Car HaL Bejberling Rub pt Do, . ‘Tonopah Unit Drug C 2 pf DAY’S POULTRY PRICES. CHICAGO, March _12.— Poultry— Alive, unsettled; fowls, 243%: Springs, 81; roosters, 19; turkeys, 23; ducks, 28; gee: b 8 Unit Gas Imp.. A quotations, the early dealings. were advance, with May July 1.60% to 1.6 of oats had been to Open. s I 1a0y relatively cables and the forecast for showers for May October the market heid falrly steady Liverpool reported the decline there was due to freer offerings of spot, a less active spot demand and sell- ing by the continent. New Orleans Values. March cables were about the cotton market due to weather condi- tions. The Government forecast called for rain in south Texas. to 5 points down, market sagged, May dropping to 25.68, to 25.94 and October to 25.07, to 13 points from yes- terday’s closing levels. half hour of prices had rallied 5 to 6 points from though Liverpool savoy, cucumbers, bushel, 50 crate, 5.00a6.00; tomatoes, cra 5.50; turnips, basket, 50a1.00. Apples—(Packed), barrel, 3.50aT. grapefruit, box, .25; oranges, strawberries, quart, 62142673, Selling Prices at Noon. Wheat—No, 2 red Winter, spot, ex- 2 red Winter, Quotations today: 1 oat, 0000000 | o0 0|0 FINANCIAL. erages ress. higher dec.ine e on the 12 cent readily Some notice was taken of announce- ment that with the exception of one year the amount of domestic wheat to be shipped out of, the country where grown has this| season been the largest on record Opening quotations, which ranged to TRADING STEADIER INGRAN NARKET Higher. the wheat today Offerings were Corn Lower—Hog Prices Move Upward. CHICAGO, March 12.—Largely be- cause of relative firmness of Liver- market durin B absorbed. of cent yesterday's finish. for corn. % oat rden. High, 1.84 181 150 1.291 1328 1.31% 308 March There near-month but the demand was soon | net ewed heavy 1.82 to 1.82%, and . were followed by moderate gains all around, and then something of a reaction Corn was easier, considerable sell- basis present stocks are more than suffi- clent for the demand that After opening higher, 129 to 129%, prices sagged all around May Oats displayed comparative strength, reports that farm use unusually Starting at cent values showed a up. Low 1 12.—The ton market opened steady May | Higher quotations on hogs gave a decided list to the provision market Close. 015 1.81% = 118 COTTON QUOTATIONS ARE LOWER TODAY | Probable Showers in South and‘ Poor Cables Prove De- pressing. co today was easy shorts litt! at an advance of 6 points to a decline le at supplied. The general list sold about lower after the liquidation pro- Liverpool | Selling was not active ANS, and or general, however, and after easing 25.35 for 12.—Al- had an First trades and the By Md., Mar potatoes, 1.00a1.40; sweet potatoes, barrel, 6.00; yams, barrel, 3.50a4.00; aspara- gus, dozen, 9.00a11.00; beans, bushel, 4.5026.50; beets, 100, 6.00a8.00; broccali barrel, 1.75a2 15a25; 00a7.00; celery, bushel e, 3.50a5. er plants basket, bi 5 s, ket ons; 1.90; 1 ations. s, 21 tons. Pe- 3= R 3 ufi:sa gz ta FAVERFRNRE WL ch the end trading GRAIN AND PROVISIONS. 12 (Spe- 100 pounds, 0a Brussels cabbage, barrel, 1. to! 00a1 n, 5; caulifiower, crate, 00; 2 2.50a 4.0028.00; 100, 35240; hamper, 3.0024.50; peppers, crate, 4.00 lettuc e, basket, 1.75a3.50; onions, 100 pounds, 5.00a peas, 1.00a1.50; squas h, e, 2.50a box, 4.50a5.50; red Win- Corn—Cob, new, vellow, spot, 6. 7.00 per barrel; track corn, yellow Oats—No. 2, 60%: No. 3, 581 1.40a1.50; No. Ty ter, garlicky, domestic, 1.90; No. 3 red Sales—Bag lot of nearby at wharf 5a No. Under more No. 1 0. 2 timothy, 17.00a19.00; over mixed, 19.50a20.00; 1 clover mixed, 19.00a19.50; clover mixed, 17.00a18.00; No. 1 clover, DIVIDENDS. BoRbEauy e eE B receipts of hay by truck the market rules easy, with little life to A moderate demand pre- valls for the better grades of timothy and light clover mired, but common, low-grade hay is hard to move at any timothy, o. No. Straw—No. 1 wheat, 16.00a16.50 per 17.00217.50; .00a19.00. 1 FARRINGTON MADE SAVING BANK HEAD Succeeds E. H. Jones at Chevy Chase—Qther Lo- cal Financial Notes. BY CHAS. P. SHAEFFER. Dr. Frederic E. Farrington has been named president of the Chevy Chase Savings Bank to succeed Edward 11 Jones, who recently resigned. He was formerly secretary. Dr. Farrington, who is head master of the Chevy Chase S ol for G Wwas one of the incorporators of the bank, and continuously since fts or ganization has served as a director and member of the mittee. Clyde D. Garrett retary to the board of directors to fill the vacancy created by Dr. Far rington's elevation North American's Earnings. The North American largest gross and net vears of operation 1924, Gross revenues of the o !h: twelve months a 17,2 n increase of over the previous vea income from ope; 492 executive com was elected = Co. reveals n its preciation surplus t from $5.70 stock After allowing fo! the company were equal tr of 31.6 per cent on the of $10 par value Treasury Offering Cloxed. Total reserves. aled $15,378.576 to $5.85 ommon sto subscription | offering “of secur fo financing of the Governmen about $747,000,000, Secretary M announced last books closed Tyess MO The offering inel 3 per cent certi 14 ness. maturing nex to the rece es March ndebted additional T: - et dditional Treasury 4 per cent bonds of 1944-54 1 Y e Subseription $382,000,000. scribed for mately $ remair chang. 15. The Treasury followed the prece dent set last vear of faking all s ‘(rr:n( ons under $10,000 |prorating the larger | The proceeds will “prov | carry the Government throt next tax-paying period or Savage Home From Tour. Francis M | Northwes {ed to d last December. Of the $365.000,000 sub the certifi approx -000,000 was in cash, the er being take by the ex of securities maturing Mar £ton that approx per cent of the bank diff that region is droughts and reaction fro 15 per cent to faulty adm |and the remainder chargea judgment. chiefly due to the basic i dustry of stock and loans on stock | The West not favor bran banking. Mr. Savage says. In Ca fornia there is some iety of t outcome in the rections where it con tinues to spread Rallroad Revenues Gain. Gross operating revenues of class railroads amounted to $454.773,600 in ing to statem a th reau of Economics rresent crease of $15 or 3.4 per cen over the same month of last vear. The net ope & income for thess carriers amounted to $65,542,000 increase of $14.434,800 over Ja of last year. Trading on Local Board. The Washington was held somewha today’s trading. o established new highs, upward to §4 on sma hares of American broke into new high g Holders of Railway, co ed the “asked” price to 1 the “spread” in this issue t points. The preferred to 821 on limited sales National Mortgage and preferred. was heavily t shares being sold at Traction was pegged was Washington Gas at above 60. | culties nt to- Iwa an in- SHORT SELLING EXTRA HEAVY IN WALL STREET Brokers Lay Recent Market Weak- to of ness Variety Developments. B the Associated P: NEW YORK, March 12— large brokerage houses attribute recent weakness of the stock ma to a combination of developmen which, however, has resulfed in a orderly recession. Little forced liquidation has been mnoted. it was said, but there has been a great deal of short selling, with the result that the short Interest is now larger than it has been for some time. Heavy selling by professional traders was reported in such issues as United States Steel. American Can, Radio Baldwin, United States Smelting, Texas Gulf Sulpl United States Industrial Alcohol, and some of tha oils. The bullish attitude of large interests was said to have shown no change. RAILROAD TO TEST OUT 2-CAR GASOLINE TRAINS teh to The Star. BOSTON, March 12—The and Maine Railroad will try out a two-car gasoline motor train on its line between North Adams and Troy N. Y., about May 15. The train has seats for 82 passengers. Similar trains will be operated on other non-paying lines If the first one proves a success. Special Disy Boston Yield of Cotton Is Quadrupled by Use of Fertilizer By the Assoclated Press. UNIONVILLE, Ill. March 12.— Cotton ylelds on the experiment field which the College of Agricul- ture, University of Illinols, main- tains here were increased almost four times last year by treating the land with manure and lime- stone, according to reports tabu- lated by H. J. Snider, assistant chiet of the institution's soil ex- periment flelds. Treated land yielded 502 pounds of seed cotton an acre, while un- treated land yleided only 133 pounds. The yields were in line with the 10-vear average, the re- port aid, which glves 525 pounds of seed cotton from treated land and 190 pounds from untreated land.