Evening Star Newspaper, March 25, 1925, Page 28

FI MOVES ARE MIXED IN STOCK MARKET, Better Tone Develops in Spite of Many Very Weak Spots. BY STUART P. WE Special Dispateh to The § NEW YORK, M ket today although there were of individual weak was concentrated on these, with the idea of inducing further liquidation. Union Pacific was a striking example, the selling of the preceding day evidently having lad the effect of frightening out many weak holders. The net change in the zeneral list was inconsequential. Tm- provement was shown at times in various quarters, including the rails the motors and the oils, but the gains were only moderate and some of them were reduced before the session was over. ~The mar- etter still a numhe spots. Selling apparently tone Pacifie infol that there a reduction in stock did into new low Te v in some of The explanation which plausib'e w t I Union Pacific Union The best Pacific wa hood of Yet the it broke spite the other rails. seemed most hoars had selec speeial target on account of the vertising which the St. Paul recei - ship gave to the deleterious effects of the Panama al competition upon the earnings of the transcon- tinental roads. Reporis. ation about Union was no likeli- e dbvid wretched und, act shares were irreg lar. Up to the time und midd when the selling of Union Pacific became conspicuous most of the rail stocks did better, There were rallies of a Atchison, in St. Louis in Southern Railw L Pacific. Norfolk and West- ern was up nearly two points. There was active short covering in the St Pauls, but when Chicago and North- western, Northern Pacific and Northern preferred ralli into a fresh supply in the day under the caused by the weakness cific the movement in the more uncertain Poolx Are Successful. Some of the pools in specialties appeared to be getting thel nerve back after the series of reversals which had lasted over the greater part of the month, Air Reduction was run up sharply, so was Famous Players for a time. The two-point rise in Loews was as- cribed to increasing earnings and the possibility thus suggested®of a larger dividend. The bears did not dare at- tack the public utilities. Consolidated Gas, Columbia Gas and North Ameri- can all stood out strongly, and Ameri- can Water Works held around top figures. Maxwell “B” Is Feature. possibility of California Petro leum preferred being retired was again considered in view of the strength in these stocks. Short cov- ering was rathe heavy in Pan- American B, but most of the other ofls were sluggish. Maxwell Motors B stock was one of the strongest of the industrials. This was the more remarkable be- cause of the fact that a meeting of directors said to have been scheduled for Tuesday did mot occur. The Street had been looking for some sort of dividend announcement. It was said today that the preferred stock would go on an $8 basis In April. New Haven recovered some of the ground lost on the preceding day, when it got down to its lowest for the year. Since the recent oversub- scription’ of the $23,000,000 15-year secured gold debenture 6 per cent bonds, New Haven stock has enjomed a better market, reflecting the re- Dewed confidence of shareholders, MARKET CLOSES STRONG. Other railway point or so San Fran- and in ettlement in Union F rails became The Shorts Driven to Cover During Last Hour Trading. By the Associated Press. \EW YORK, March 25.—Stock made impressive recovery from weakness in today’s market, net gains of 1 to 5 points being scat- tered throughout the list. Bear traders attempted to unsettie the eral list by hammering Union Pa- cific to a new 1925 low at 135%, but they encountered strong buying sup- port and were forced to cover freely in the late trading. Total sales ap- proximated 1,500,000 shares, The closing was strong. Shorts were driven to cover in the late trad- inz, United States Steel crossing 119, Baldwin, American Can, Mack Truck and Savage Arms selling 4 to 5 points above vesterday's final quotations and United States Cast Iron Pipe soaring o points. cks strong; stand- ance 2 to 5 points. nd oil liens score ign exchanges : Cotton steady further re ¥ higher; trading qu absence rain in Te Sugar easy; increased spot offerings. Coffee lower; unfavorable Brazilian markets, CHICAGO—Wheat strong; continued dry weather. Corn higher; light re- ceipts. Cattle weak. Hogs irregular. STOCK LOSSES NOW MORE THAN BILLION| Depreciation in Dollars During Re- cent Decline Reaches Very Heavy Totals. By the Associated Press. NEW YORK, March 25.—The dras- tic nature of the recent decline is illustrated by the following table, which shows the extreme decline from the high levels of the year to the low prices yesterday and the de- preciation in dollars. Five leading industrials show a depreciation of $260,417,705 in quoted value, the larg- cst being the drop of over $156,000,- 000 in the market value of Standard Oil of New Jersey common. Five Teading rails show a decline of .754, the largest of which is drop of over $32,000,000 in Union Pacific. With over 900 stocks listed and traded in on the exchange, and most of them stubstantially below the ear's high levels, which in many vases were only established last month, the combined depreciation in, market value undoubtedly will run well over a billion dollars: Year's Tues. Fxt Industrisls— high. low. decline. Standard Ol of Denrec, in dollars. 7% $156,876,950 125 64,173,190 1% 18017565 0% 10,850,000 10.500,000 . 129% Marland 0.0l 461 Amer. Woolen 61% Amer. Toco... 144% Rails. Union Pacific _153% XY, Central 1241 S0, Paeific. t~hison New Haves 1 NANCIAL. Adv Rumley. . Ad Rumley pf ( Air Reduct (15). Ajax Rubber. Alaska Juneau All Am Cable (7) Allied Chem (4). Allis Chalm (4). Am Agricul Chm Am Ag Chm pf.. Am Bk N pf (3). Am Beet Sug (4) Am Bosch. ... Am Brk Shoe (5) Am Can (47 Am Can pf (7 | Am Car & F (12) Am Chicle...... 1 Am Chicle cts. Am Drug (60.) Am Express (6). Am & For Pow. Am & FrP pt (7) \m Hide & Lea. Am Hide & L pf. Am Internat! Am Linseed. .. Am Linseed pf. . Am Loco ++18) . m Metal (3). .. Am Radiator (4) \m Safty Rz (3) Am Ship & Com. m & Ref (6) tl Fdys (3). ugar. ... Am Sugar pf (1) Am Sumatra. Am T & Tel (3). Am Tobacco (7). Am Tobac B (1) Am Tobac pf (6) \in WW&EL 30c A\m W W pf (6). \m Woolen. . \m Wool pf (7). Am Zine. . Am Zine pf. Anaconda (3) Ann Arborpf. .. Archer-Danlels, Armour of Tl A. \rmour Del (7). AssoDry G (5).. Asso Ol (138).. AtT&SFe (1. AT&SF pt (5). Atl Birm & At Atlantic C L (7) \tGuIt& WI... At Gulf & WI pt Atlantic Refin. .. Austin-Nichols. . EBaldwin L (7) Bald Loco pf (7) Bal & Ohio (5).. Bal & Oh pf (4). Bang & Ar (3).. BarnsdallA. ... Rayuk Clgar. . ech Nut (13) Bethlehem Steei Briggs Mfg(31) British Emp 2d Bkl Edison (3).. Bki-Man Tran. . Bk1-Man T pt (6} Bkl Union G (4). Broww Sh pt (7). Bruns-Balk(90c) Burns Bro (10).. Burns BrB (2).. Burns Brpf (7). Bush Term (5) Eutte Cop (50¢) . Butte & Su(50c). Butterick Co. Caddo Central. . Cal Packing(8). Cal Pete (1%)... Calif Pet pt (7) Callahan Zinc. .. Can Pacific (10). Cent Leather. .. Cent Leather pf. Century Rib (2). Cero d Fasco (4) Certain-Teed. ... Certain-T 1st (7) Chand Mot (3)... Ches & Ohlo (4). Chi & Alton Chi & Alton pf. Chi& EastIll. .. Chi & Est Il pf. Chi Great West. Chi Gr West pf.. Chi ML & StP. .. Chi Mil & SP pf. Ghi & Nwn (4).. Chi & Nw pf (7). Chi RI& Pac. .. CRI& Ppt (6). Childs Company . Chile Cop (2%). Cluett Peab (5). Coca-Cola (7)... Colo Fuel & Iron Colo Southern. .. Col G & E (2.60). Col Carbon (4).. Com Iny (2.50). Com Solv A (4) Com Solv B. Congol-Nrn (3). Consol Cigar. Con Distributrs. Consol Gas (5)... Consol Textile. . Cont Can (4). Cont Mot (80c) . Corn Prod (2).... Corn Prod pf (7) Crucible Stl (4). Crucible pf (7). Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pf.. Cuba Dominican Cuyamel Fr (4). Daniel Boone. .. Davison Chem. . Deere pf (3).... Del & Hud (9).. Del L&WNR (17). D &R G Wst pf. | Detroit Ed (8). . “Dome Mines (2). Doug Pectin (1). Dul S§ & Atl pf. Dupoat (10). Fairbks (2.60). Eastman (18). Eaton Axle. . Elec P & Lt pf. End-John (5). | Erie. | Erte ll( pf Excheage Bf (2) Famous P (8). Fed L & T pf(6). Fed Mines pf Fifth Ave (64c). Fisher Body (5). Fisk Rubber. . Fisk R 1st (1)... Flelschmann (4) Foundation (8).. Freeport-Texas. Gardner Motor. . Gen Am Tnk (3) Gen ATC pt (7). Gen Asphalt. ... Gen Baking (6). Gen Cigar. (8) Gen Electric (8) Gen El spl (60¢) . Gen Motors (6). Gen Petrol (2). Gimbel Bros. Ginter Co (1%) . Glidden Co. Goid Dust Goodrich. Goodyear pf (7). Gdyear prior (8) Granby Consol. . Grt North pf (5) Grt Nor Ore (4). Grt Wstn Su (%), Gt West $pf (). Gulf Mo & Nor.. Gu M & N pf(6). Gulf St Steel (5). Hartman (2%).. Hayes Wheel (3) Homestake (7). House P (13%) Houston OIl..... Hudson Man. - Hudson Mot (3) . Hupp Mot (1).. Illinois Cent (7). Independ Oil (1) dindian Motorcy . Indian Refining. Ingersoll R (8). . | Inland Stl (21%). Inspiration Cop. Interb Rap Tr. Internat Agri. Open. High. 14 4914 34 n 1% 14 49'% 1004% 114% 214 Low. 14 484 984 1 1% 123% 1234 123% 834 9% 147 875 bdw 140 27% 95 171 117% 204 55 53 (3 1404 20% 8% 124 96 36% 96% 17% 95% 94 6% 167 18% 3 103 29% 111 3 143% 15% 50% 40% 44% 41% 93 32% 98% % 13 3% 45% 9% 21% 5% 10 59 12 46 84% 51 824 62% 88 35% 54 556% 46 58% 139 181% 86% 2% ¥ 75% 2% c1% 8% 387 123 67% 94 29% 13% 58 5% 51% 3% 33% 90% 136 182 37% 114% 14% 14% 5 140 36% 109% 14% - 100% 65% 294 384 16% 944 86 52% 13% 61% 10% 81. 6% 984 11% 12% 45% 96 46% 126, 95 266 1% 841 81 15 414 Biv 201 69% 48% 50% 28% 13% 88 52 93 104% 14% 62% 344 94 109 24% a1 70 28% 31 44 35% 644y 24% 42% 4% 113 24 13 6 225 43% 24% 17 9% 43% 15 113 25% 13 6% 225 4314 24% 20 9% 83 9% 145 BT% 21 40 27% 95 163 17% 55 58 5% 140% 204 881y 1124 24 ? 13 ‘6 225 434 234 17 9 o7 127% 95 69% 50 50% 28% 134 38 52% 94% 104% 15% 68 34% 93% 109 24% 91 0% 28% 30% 44 35% Ay 43 15 112% 25 13 6% 225 434 | 234 ¢ 20 9% 26%| THE EVENING Int Bus Mac (8). int Cement (4).. | Int Com Eng (2). Internat Har (5) Int Mer Marine. . Tut Mor Mar pf.. Tnt Nickel. . Int Paper. : Int Pap pf st (6) Int Tel & Tel (61 Int Tel & Tel ris Jewel Tea. Jewel Tea pf. Jones Gros Tea. Jordan Mot (3). nsas & Guif. . n Uity South. pring 1st N-Spring nf. Kels Whpf (7) Laclede Gas (8) . Lehixh Val (315) Liggett & M(H4) My B (1) Loco (4).. Loows Inc Loose-Wile Vorrillard (3). Lorillard pf (7) Loutsiana Oll. Louls & Nsh (6) . Ludlum (2) Melntyre (1).... Muck Treks (8). Mucy HR & Co... linson & Cu. Man Bl md(3%) . Wien Shirt (1%) . | “"anila Electrie. Market St prior. Marland Ofl. . Martin-Pry (4). Mathieson Alk: Maxwell Mot A. . Maxwell Mot B. . May Dept St (5). Mexican Seabd. . mi Cop (2) Mid-Continent Viddle States. Minn & St Louls. Mis Kan & Tex.. MK &Tpf (5).. Missouri Pacific. Missouri Pac pf. Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Mullins Body. .. ash Mot (+11).. at Biscult (14). Nat Cl & Spf (T) Nat Dalry (3)... Nat Dpt Stores. . Nat D St 1st (7). Nat Lead (8).... Nat Ry Mex 2d. Nat Supply (3). Nevada Copper. . OT &M (7). Y Canners (2). Y Canners rts. Y Central (7). C&StL (6).. YC&SIL pt (6). Y Dock NYOn & Wn (1) Norf & W (18). . North Am (3.40) t’nrth Am pf (3). North Pac (6). Onyx Hostery. .. Orpheum (1.80). Otis Elevator (6 Otis Steel . Owens Bot Pacific O11 (2). Packard (1112). Packard pf (7). Pan-Amer (6).. Pan-Amer B (6) Park & Tilford. Pernsy RR (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4) Phia Co (4) . Phia Co pf (3 Phila& RC&I. Phillip Morris. Philllps Pet (2) Pierce-Arrow. .. Plerce-Arrow pt Plerce OIl. Plerce Petrol. Pitts Coal. . Pitts Term Coal. Pitts Ut pf 11.20. Pitts Ut ctfs 1.20 Pitts & West Va. Postum-Cer (4) . Press Steel Car. PrStCarpt (7). Prod & Refiners. Pro & R pf (3%) Pub S Gas pf(6) . PubSer N J (5). Pullman Co (8). Bunta Al Su (5). Pure Oil (1%).. Pure Oil pf (8).. Radio Corp of A. Ry Stl Spg (8) Ray Cons Cop. Reading (4) Reading rt Reading 1st (2). Reading 2d (2).. Remington Type Replogle Steel Rep Ir & Steel Rep 1 & Spf (7). Reynolds Sp (1). Rey Tob B (3) .. Rey Tob pf (7).. Roy Duth 4.42%. St Joseph Ld (2) StL & San F (5). StL SauF pf (6). St L Southwest. St L Swn pf (5). Savage Arm: Schulte (*8).... Seaboard AirL.. Seabd Alr Lipf. . Sears-Roebk (6) Shell Un (1.40).. Stmmons Co (2) . Simms Pet (50c) Sinclair Ofl..... Skelly Oll. ... Sloss-Sheft (6).. South Pac (6)... South Port S (6) Southern Ry (5) South Ry pf (5). Spicer Mg Std Gus & Bl (3). St 01l Calif (2). StOIINJ (D). SLOINJ pf (D). Std Plate Glass. Sterling Pr (15). Stew Warnr (). Stromberg (6) .. Studebaker (4) . Submarine Boat Superior Oil. ... Superior Stl (3). Symington Symington A (2) Tennessee Cop. . Texas Co (3). ... Texas Gulf (7).. Tex & Pacific. Tex & Pac C& O Third Avenue. .. Tide W2t Oil (4) Timken (13%).. Tobac Prod (6). Tobe Prd A (7). Transcont Oil. .. Underwood (3. Underwd pf (7). Un Bag & Papor. Unlon Oil. Union OI1 (1.80). Un Pacific (10).. Un Pacific pt (4) Un Tank Car (5) Utd Alloy Steel. Utd Cigar (13%) United Drug (6) Utd Fruit (10).. Utd Ry Inves pf. U § Cast Iron P. U S Distributing Hoff (2).... U 5 Ind Alcohol. U S Realty (8) | U s itubber. ... U S Rub 15t (8)., Open. High. 112% B4 6% o7 12'% 40% 240 49y 2% 904 2% 18% - 105% 16% 45 3 32% 41 112% B 3% 98 12% 42 26% 50% 2% 9015 2% 18% 105% 17 454% I 33% i 43 41 110 a9 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Omce Low. 112% [ 86% 96% 11% 40% 24% 48 T2% 89% 2% 18% 105% 16% 4% 4 208 8% Close. DEALINGS IN BONDS (SHOW BETTER TONE “* Buying Orders Fairly Well Distributed—Weak Spots Are Also Noted. 25 49% 725 90% | 2% 18% BY GEORGE T, HU 45% | Special Dispateh to The Star. ! XEW YORK, March 3.3 | improvement in the more speculative 14 " |issues, but in more easy tones in high- & | &rade investments were the charac- teristics of the day In bonds. The ocal tractions rallied again led by he Interborough group. Among the rails the leaders were the St. Paul bonds. Comment to the effect that & brief recejvership was led to a good deal of ing as well as new buy- who believed tha ent quotations were low 5%, long term, and made (he most pro- GHES, —Moderate Foreign List Mare attention wi eign list than in ture being the in French bonds. This was all more noticeable becausa franc ox- { change hud Loen strong Tuesday, but withcut any stimulating effect upo: the dollar Londs. M1 the French obligations are now selling at the low of the year and in the case of the Paris Lyons Mediterrancan 6s and the sam, mpany’s s at new prices. It is hard to see how a new Fronch loan could be placed in this ket on any favorable terms. Mid- sean bonds were all heavy with the possible exception of the Ger- man 7s. Among domestic industrials Ana- conda Copper 6s fell below par, Chile Copper 6s were lower and the bonds of the sugar-producing companies were mostly down fractionally. American Agricaltural Chemical Ti%s did a litte better. Changes in United States Government securlties were of no significance. Demand and supply were about balanced and the same was true of the savingt bank railroad mortgages. Today's New Inxuen. The new issues of the day included $5.000,000 Alpine Montan Steel 7z (Austria) to yield per cent and 3,000,000 Lake Shore Athletic (Chicago) first six halfs at par VIRGINIA SPINACH Aetive. aid to the for- time, the fea- heaviness the e persistent Special Dispateh to The Star. NEW YORK, March 25.—Produce— About 50 carloads of spinach arrived here today, mostly from Virginia, and prices declined sharply. Spinach in barrels wholesaled at from $1 to $2; mostly, $1.50. Old crop potatoes were dull, but prices were without material change. No. 1 round whites brought from $1 to $2.15 per 180 pounds. SILVER S‘HIPPMROAD NEW YORK, March —One million | ounces of silver, valued at about $600, 000, \has been shipped to Hambur; German from San Francisco by the International Banking Corporation. 1924 EARNINGS INCREASE. NEW YORK. March 25 —Larger earnings were reported by Interna- tional Business Machines for 1924 than the year before. Net income in- creased to $2,151. from $1,961,375, equivalent to £14.27 a share on the common stock, against $13.01 a share in 1923, SHOB;TEBH SECUIITIES. (Quotations furnished by Redmoud & Co.) Alumisum Co. of Amer American Sugar Gs 18 American Tel. & Tel... Anaconda Copper 6s 1 s 1933, Ruitimore & Owio te 1 Bell Tel. of Canada 3 Central of Georgin 6 1020 Gent Tavtner 3u! Apri 15 165 Chi.y ML, & St. Paui 6a 1934, Cuist R. 1. & Facific 3153 1026, City' of Bt Colum Contimental Gas & Elec. Du Pont s 1631 Pederal Sugar Ref Federated Secals 7s 1030 Goodyenr T. & K. fa 1031 Great Northern 7s 1038 . Gt ol Corp. of Pa Fomble Ol 5348 193 Lehigh Pow. Sec. Corp. 65 1927 ARt PU& S, 8. M B 100 Morris & Co. Tign 1080-, . New ot Central g 1935 Oregon Short TLine 42 Penheyivania R R. Ta 1830 Pare 0N B8, Aveust, 1 Swift & Co. fs 1082, ... Tdewate: Ol 6% 1931 Tnlon Tank Car s 107 Ur 6, Rubber 138 1030 Western Union_ Gias_1986. Wentinghouse E. & M. s 1031, 10713 Fisher Body Corp. ba 1927, called on Keb. 1, 1025, at 101%, Pisner Bods “Corp. G 1928, called o Feb. 11025, at 102, GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) o Bid. Asked. Ger Gt (war loan) Gs 101418 Hamburg 4358 1919, A Ger Gt 45 (forced loan). .. 00 3100 (quoted_ in dollars per thousand marke ) Ger Gen Elec 4158 pre-wa; 400 2000 Ger Gen Elec 4i4s 1010. Herlin 45 pre-war. Hambg s, 3l burg Amer Line 414 i Prussian_Conols 3'g Krupp, 1921 . Dusseldorf 4% pre-war. Frankforf a-M 4s pre-wara. Munich 4s pre-war. 3 Badische Aniltn A B. G. (Ger Ge Hieci. Commerz and Privat Ban! Disconto Gellschaft Dresdner - Bank Deutsche Bank Darmstaedter Bank cer Bank 3% 45% 118y 122% 34% U S Smelting. USSmpt (3%). U S Steel (17) U S Steel pt (7). Universal Pipe. . Univer P pf (7). Utah Copper (4) Utah Securities. Vanadfum. Va-Carctfs. ... va-Caro Ch pf... Va Ry & Power. Vivadou... Wabash. . Wabash pfA... Waldorf (1%).. Ward Baking A. Ward Baking B. Ward Bak pf (1) ‘West Pen (4) West Pen pf (7). West Maryland. West Md 2d pf. . Western Pacific. West Pacpf (6). ‘West Union (7). West Air Br (6). Westinghse (4). Wheel & L Erie. Wheel & L pf. MWhite Eagle (2). White Mot (4). Wickwire Spen. Wilson & Co..... Wison & Co pf. Willys-Overind. Wills-Over pf. Woolworth (3), Werthington Wright Aero (1) Yellow Cab 2.52. 32 |YoungstnS&T.. 67 67 66 66 24% | yparay extra, A B0% | Diidend raten as’ isen in- the abore "(4pis 119 | @re the annual eash payments based on the seul B Sua e e e 9% nvue-a- are not included. 23% 63 16 120 38% 9615 1% 96 1% 16% 39% 88% 118 101 69 11% 23% 26% 59% Y 8% 20% 11% 85'% 114 47% 17 86 17% % 16 120 38% 964% 111% 96 12 16% a1 i 101* 684 1% 23% 264 59% % 8% 21% 124 863 115 49% 17 1T% 36 36 8 44% 108% 49% 15% 9% 127% 38% 75 Y% % 384 115 3% % 37 136% T4% 125 26 674 L16% 120 384 961y 111% 26 11% 16% 39% 884 118 101 68% 1 - 23% 26% 59 % 8k 2% 11% 85% 114 47% 17% 36 50 186 Club | BREAKS MARKET| STAR, WASHINGTON, D. | | 7 | Cont Mil 61 o and | Dutch Recelved by WEDNESDAY, MARCH 25, Private Wire UNITED STATES BONDS. (Bales are in $1.000.) Sales. High, 55 101 14 Lib 1st 4 49 10123 Lib2d 43%s. 73 100 80 Lib 3d 4%s. 162 101 20 Lib44%s.. 117 10130 US4 1944, 26 100 21 US4%s'52. 30 10426 FOREIGN. Sales. High. L1011 96% 786 964 102% 9514 991 854 92% 109% 1 1074% 108% 1 Lib 2158 Argentine 65 A. Argentine 6s B. Argentine Ts Austria7s........ Bank of Japan 6s. Belgium 6s....... Belgium 6%s wi.. Belgium 7T%s . Belgium 8s Berie §5. Rolivia 85 Bordeaux 6s. Brazil 7s. Brazll T%s Brazil Canada 6s 1 . Canada 58 1952, Chile 7s 1943 Chile S5 1941 Chile 85 1946. Chinese Gov Ry 53 “Christianla 8s. Con Pow Japan 7s. Conenhagen 5%s. . 1 -au'.:-._m Saak-wet nish Munic Denmark 6s | Denmark 8s. DRI DETS Dutch st 16862 1 Salvador 8s'48. Inland s £ 68 '45. . Framerican 7l%s ¥rench French 7%s. French 8s. German 7s. Ger Gen Greek Ts. Haliti 6s Hungary 6%s. | Japanese 4s. Japanese 6%s. . Jergens U M 6547 ons s Marseille 6 Mexicp 45 04 asnt Netheriands 65 Netherlands 6= Norway 65 194 Norway 8s.. . Orient Dev deb 65. Paris- -n = =y raeluifaanaBacS0RiRaEElaananald Paris Orleans 7s.. Poland 6s '40 Poland 8s 50 wi Prague 7149, . Queensland bs Queensland 7s. ... Rio de Jan 8s 1946. Rio de Jan 85 1947. Rio Gr Do Sul 8s. . Sao Paulo State 8s Seine Dept of 7s Serbs Crot Sio 8s. . Solssons 6s..... Sweden 5145 ct. Sweden 6s........ Swiss 5148 1946. .. Tokio 5s. ) £ " 8 Ud Kingm 5%s 37 39 Uruguay s MISCELLANEOUS. Ajax Rubber Ss. .. Am Agr Chem 733 12 Am Chain sf 65 '33. Am Cotton Oil 5s. . Am Repub deb 6s.. 3 Am Smit & R 1st 5 10 AmSmit&R6s... 1 Am Sug ref 6s. 12 AmT&Tcltris.. 24 AmT& Tecltrbs.. 22 AmT&Tsf5s.. Am T & Tdeb 51 Am Water Wks 55 Anaconda 1st 6s. .. Anaconda cv db 7s Andes Ts Zo% pd. .. Armour & Co 415, Armour Del 53%s. . Associated Oil 6 Atlantic Refin 5s.. Barnsdall s f §s Bell Tel Pads.... Beth Steel pm 5s.. Beth Steel rf 5s.. . Beth Steel 51553, Beth Steels f 6s... Bricr H St 1st 533 Bklyn Ed gen 5s.. Bush T Bldg 5s '60. Calif Pete 6%s. ... Cen Leth 654 Chile Copper 6s Cin GE5%s'se... 22 Col Gas & El 5s. . Col Gs & El5s ata. Commonwth P 6s. Con Coal Md 1st 53 Con G NY 518 wi. Consumers Pow 5 i Cuba Cane cv 7s Cuba Canecvd 8s. Cuban Am Su~ 8s. Denver Gas 5s. .. Det Edison 5s'40. Det Edison ref 63 Donner Steel 7s. ... Du Pont de N 71s. Duq L&P 5%s '49 Duquesne Light 6s Est Cuba Sug T%8s. Empire G&F 7%s. Feder Metls 7s '39. Fisk Rubber 8 Gen Asph 65 '39. Gen Elec deb 55 Goodrich 6% Goodyear s 1931. Goodyear 8s 1941. Hershey 6s 1942 Humble O&R 5%s. Tllinois Bell 1st 5s. Illinois Steel 435s. Indiana Steel 53 Int Mer Marine 6s Inter Paper 65 '47 KC P& Lt 554" Kan G & E 6852 Kelly-Spring §3 Keystone Tele 55 Lacl G ref 55 '34 Laclede G 5%s'6 Liggett & Myrs bs Liggett & Myrs 7 Lorillard (P) Lorillard (P)Ts... Louisv G & E §s'52 1 Magma Cop cv 7 Manati Sug sf 7 Mid-Con 6%s, '40. Midvale Steel 53 Montana Pow Bs.. Nat Tube 1st 5 New Eng Tel 68 N Y Ed 53’44 wi. N ¥ Edenlst 6145 NYG EL H&P 4s. N Y Tel 4%s. .. N Y Tel 65'41.. NY Tel 63'49. North Am Ed 68 North Am Ed 6% Nor Ohio T&L 6s. Nor States Pow b3, Otis Steel 71s. Otis Steel 5. . . Pac T& T 1st 58 Pac T & T 68'52... 12 an-Amer Pete 65.406 bhila Co 5% '38.. 13 Phila Coref6sA.. 6 Phila & Rd C&I 5: Pierce-Arrow 8s. Pierce Oil deb 8s. Public Service 6s Pub Serv Elec 6i Punta Alegre 7s. . Saks & Co af T Sharon St1 H §s. Sinclair Ol 65 Sinclair Oil 6%s. Sinclalr Ofl 7s Sin COP L 6s'28 Sin Pipe Line 68 Skelly OH 615 South Bell Tel 55 So Por Rico Sug 75 Southwest Bell bs. Sug Est Orient Ts. 7 8 3 ZRau vaSowaSunen o =0 R 104 98% 2 8% Low. 101 12 101 20 100 28 101 17 101 27 100 19 104 26 107% 2:50. 102 14 161 20 100 28 101 17 101 28 100 19 104 26 2:50. 96% 964% 102% 954 99% 8h'% 92 109% 107% 108% 92% 84 3 107% 96% Low. 96% 96 02'% 95 99% 85 92 09Y% 081 linte 1925. Direct to The Star Office. Sales. High. 15 101% 1 108% 4 96 6 101% 18 8% 5 105% 10 105% 2 94% 01 86 Low. 10134 103% 957 1015 854% 104% 105 941 85 93% 8% 91% 98% 109% Tenn Elec Pow 65. Tide Wat Ol 6%s. Union Bag & P 6s. United Drug 6s. U S Rub 1st rf 6 U S Rubber 73%s. U S Steel s 58 Utah Pow & Lt bs. Va-Car Chem 7s. .. Vertientes Sug7s. 4 94 Warner Sug 7s'39. 8 784 Warner Sug 7s'41. 1 91% West Elec bs. 19 9% West'n Union 6%s 6 110 Westinghouse 7s.. 13 107% Wickwire Spen 7s. 8 86 Wilson & Co 1st 6s. 17 95% Wilson & Cocv 6s. 1 71% Wilson&C cv Tis. 17 Ti% Winchester A 7i%s 1 101% Youngstn S&T 6s., 34 ¥8% RAILROADS. Atchison adj 48 1L 82% Atchison gen 4s 32 8% AtlanticC L1st4s. 6 91% AtlantieC LTs.... 1 108% B & O gold 4s. B&O cv 4¥is. B&O1atBsct Oref 58, ,.. O6s. . Orf imp 6s. & O Toledo 4s. . e OPLEWV ds.. Bklyn-Manhat 68 Buff R & Pitt 4148, Canad North 634s. Canfad North 7s. . . nad Pac deb 4s. . Car Clinch & O 6s Cent of Ga 5% s Central Pacific 4s. Ches & O cv.4ls. . Ches & O gn 4%s Ches & Ocvbs. ... 1& Alton 31m. . Chi P&Q 1st rf s. C B & Q-Oll div 4s. “hi & E Tgn bs. Chi GreatWest 4 CM& Puget B& B& s& 24 90 . 4% 163 16 -109 ¥n 4%n 26 57 68 52 C&NWgends.,, Chl & N'W ref Gs. Chi& N W6t Chi & N W 7s Chi Ry “hi RT& P gn 4s Y 1&Prf4 H&S i Un *hi Un 100% 1121 108% 834 83 BTU 784 921, 101% 116% &StLrresA. ve Term 5s. Cleve Term 51s. .. C&S1st4s'29. . Colo & Sou 4%s Cuba RR Bs.. Del & Hd 1st rf 4s. Del Hud cv 5s '35 Den & Rio G cn 4 D & Rio G imp 58 D & Rio G Wst bs. Det-United 4%s Erie Ist cons 4s Erie gen 4s. . Erie conv 48 B. Erle conv 4s D Erie & Jersey 6s Grand Trunk 7s. Great North 5 Gr North gen Green B & W db B. Hud & Man ref 5s. Hud & Man aj 5s 111 Central ref 4s. . 111 C-C St L&NO 58 28 Int Rap Tran 141 203 8 FINANCIAL, WHEAT IN RALLY AFTER EARLY DROP Aggressive Commission House Buying and Better Trade Start Rise. By the Associated Prews CHICAGO, March 25.—Aggressive buying on the part of leading com- mission houses, together with a ma- terfal enlargement of general trade, led to an advance in wheat prices today after u decline at the start. The “ini weakness was in sym- pathy with lower quotations on wh at Liverpool and on account of sharp downturn in corn values here. However, lack of rain over the do- mestic Winter wheat region south- west, as well as unfavorable crop reports from there, were more than a counterbalance. The opening, which varied from unchanged figures to a setback of nts, May 1.63% to 1.64% and July 1.43% to 1.44%, was followed by a rise which carried May to 1.66 and July to 1.47%. Further selling to stop losses on the part of holders forced down the price of corn. September delivery touched the lowest level yet this sea- son. After opening at % to 3% de- rket rallied, but then in Oats were easier, tion of corn. Starting at off, May, 43% to 44%, oats recovered and then sagged anew. Provisions responded to corn weak- ness WHEAT— Open. May oo 1,089 auly . 1 September 3 CORN influenced the High. 16813 149 1.85% 1125 116 Beptember Y September LARD Marx July ... TS May July ' DROUGHT IN SOUTH ,Qllotatiom Today Hold Fairly Well—Covering Also Helps Present Prices. e Associated Press. YORK, March 25.—The cotton market opened steady today at a de- ine of 5 points on March, but gen- erally 2 to 7 points net higher, active months seiling 11 to 13 points above | yesterday's closing figures. Recent Wal) Street and local sellers appeared |to be covering on continued drought conditions over the greater part of the Southwest and failure of cotton {to respond more fully to the recent weakness of stocks and grains, Liverpool was slightly due, private cables reporting that early steadiness on trade and con- | tinental buying had been followed by declines under increased offerings of spot and American selling. ' New Orleans Quotations. VEW ORLEANS, March 25. — With Liverpool cables about as due, the a Int Rap Tr 5s 5tpd.115 Int Rap Tran 6s... 74 Int Rap Tran 7s. Int & G Nor 1st 6s. Noraj 6s. Towa Cent rf 4s Towa Cent 1st 5s. . Kan City Ft S ds.. Kansas City § 3s Kansas City S 5s Lake Shore 4s'28. Lake Shore 45 '31. . Lehigh Valcn 4s. . Lehigh Val 55 2003 Louis & N uni 4s. Louis & N3s B Louis & Nash 515s. Louls & Nash 7s. .. Manhat ¥y en 4s Market St Ry 7s. .. Mil El Ry & L 5 M &St Listrf 4s.. M&St Lrfex5s. . M StP & SS! lnw 0 22% | 60 MK&T4eB. MK & T adj 53 MK&Trrinss A 3o Pacific gen 4s. . Mo Pac 58 1926, . Mo Pacific 5 3o Pacific 6s. . Montrl Tm 1st Nassau E Ry 4s NOTex& M in5s NOTex &M5sB.. 15 NOT&M5%s N O Tex Mex 6s. N Y Cen gen 3%s.. N Y Cent cn 4s'95. N Y Cent deb 4s. N Y Centribs. N Y Cent deb 65 N Y Cent LS cl 34 NY Chi& StL5%s 25 NYC&tL6sA... 2 New Hav c d 65 NY, Ont W st 4s NY Ry rf 4s ctfs. Y Rys adj 5s ct NY W & Bos 41s.. Norfolk & W cv 6s Northern Pac 3s. .. ‘\orlhern Pacis. .. Northern Pacés D Northern Pacri 6s Ore & Calif 1st 5s. Ore Short L ref 4s. Ore Sht Licn 55 '46. Ore-Wash 1st rf 4s Pennsyl con 4%s. . Pennsyl gen 41s. . Pennsyl gen 58 Rennsyl 53 "64. Pennsyl 6%s. Pennsyl gold 7s. Pere Mrq 15t 45 56 Pere Margq 1st bs Por RL& P 65 '47. Reading gen 4s. Rio G West 1st 4s. Rio G West cl 4s St LIM&S 48'29. .. SULIM&S R&G 4s. StL&SFplésA.. St L&SFprinbs. StL&SF5%sD.. St L& S F adj 6 StL &S F incés St L&SFplésC.. StLS W lstds.... St LS W con 45'32 St P & KCShL 4%s StP UnDep5s.... San A & Arn P Seab'd A Lids sta.. Seab'd A Ladj bs. . Seab'd A Licon 6s. . v 130 84 97% 1071 1004 96% 104% 824 99 9410 1025% 97y Ilfl‘i 1094 823 99 9714 934 84y 73 943 6% T4% 8315 9715 8645 9% 102% 801 &84 83%, 101 84 76% T4% 88% 964 07 8 86 80 90 761 T6% 101% 101% 104% 104% 108% 100% 621 40 8414 100% 2% 994 6797 2 86 31 904 27 76% 24 101% 3 10435 3 108% 1 100% 10 b2% 43 4o% 5 84t . 3 100% 19 92% 2 994 3 105% 5 85% 3 103% 84 9T% 2 100% 11 95% 3 96 2 64% Sou Pacific 4s 29 Sou Pacificclt 4s. . Sou Pacific ref - Southern Ry gn 4s Southern Ry 1st 53 Southern Ry 68 ct. Southern Ry 6% Texas & Pac 1st bs Third Ave ref 4s Third Ave adj Tol St L& W 4 Toledo Trac 6s Unlon Paolst 4 ‘nion Pac 4s'27, Un Pac 1st rf 5 Union Pac 1st rf s Union Paccv. Virginia Ry 1 ‘Wabash 1st 5 ‘Wabash 2d 5s. Washash 5%s, '75.. ‘Western Md ds.... Western Pacificbs 3 934 Wheel & LE cn 4s. 11 74 Wilkes BEE 1st bs. 8 64% 100% 62% 40% Bdts 100% 92% 994 106% 105% 8535 83% 103% 103% 97 9T 100% 100% 95% 95% %6 96 644 644 93% o34 4 3 64% 64% M 108% cotton” market opened s'(‘fltl}. first trades showing gains of 3 to 7 points. % | 45 "the weather map was dry and | barometer lnes indicated no imme- |diate change in weather conditions, i the market continued to improve, and ‘r|ghl after the opening call May trad- ed up to 2 6, July to 25.70 and - ltober to 24.67, or 12 to 14 points jabove the \hNn of yesterday, CORN 'PRICES TUMBLE LOWEST IN MONTHS Use of Other Food for Hogs and Live Stock Shortage Cause of Decline. Special Dispatch to The Sta ¢! CHICAGO, March | kept on dropping out of the corn market today as a consequence of the live stock shortage in this country | and the use by farmers of substitutes ifor feeding their hogs. At $L0T%: for May delivery corn, that grain was at its lowest for months. Even the v evident shortage of this feed 't helped it in Board of Trade , | dealings. JITNEY BUSSES BABBED ATLANTA, March 25 (Special).—All jitneys and busses not operated by the Georgla Railway and Power Co. have been driven from the streets by a court decision upholding the city council's exclusive transportation franchise grant to the company. FORD BODSTS OUTPUT. DETROIT, March 25 (Special).—The Ford Motor Co. has increased produc- |uon to0 7,000 cars and trucks a day, an increase of 600 units a day over the output a few weeks ago. Production of Fordson tractors has been in- creased to 450 a day. TODAY’S BUTTER PRICES. CHICAGO, March 25.—Butter—Un settled; creamery extras, 484ad8l; standards, 48 ; extra firsts, 46a47 ; firsts, 41a44% ; seconds, 33a37%. Eggs—Lower; receipts, 16,535 cases; firsts, 28a28% ; ordinary first: storage pack, extras, 303 ; first Corporation. Anac_Copper. W adj p Pein Sal Mk Pitts Uil Cor. Eitts 1 Cor pf. SFREE fut S omadhen 27—Iat Tel & Tel Cos 27—Jollet & Chi R R Zi—Marlin Rockwell Corp Df’ . 28—Blumenthal (S1d) & Co pf. © 28 Standard Plate Glass f TREASURY CERTIFICATES. (Quotations furrished by "“”’1:‘ co.) Jume 15, 1035. 190 100 September 2 b 100 8192 101 1.32 S 101 9an 1015 101 101 102 102 s s . s 3 3 Seprember s Mareh 15, 22. December 15, 5. i 1927, 4 24 b 4 & 4 4 AIDS COTTON VALUES | lower than | N. & W. STEAMBOAT STOCK IN Jump Advances 8 1-2 Points. Riggs Gain Discounted by Later Decline. BY CHAS. P. SHAEFFER, Two additional new highs wer established on the Washington Sto xchange today. An advance of "eight and one-half points from the previous peak the part of stock of the Norfolk Washington Steamboat Co. to was the outstanding fea market, whilo an advance of to 355 by Riggs National Bank less pronounced. The former issue, which Is more o less of a “specialty,” has been highl inactive thus far In 1925, having moved in a range of 6% points prior to today. The discounted by forced the price was back to Traction stock pick fractional point to 91, still selling ex dividend. Raflway preferred was u 1 at 81, bhut Gas lost fraction- ally on the day, closing at 59 on odd Mergenthaler preferred unchanged Bonds were of Railway fractionaliy Sou Despite revenu firm, a heavy 4s forcing the price selling dow hern's Net Increases. a decline of $77,433 in gros 3 compared with the same month of 1924, the & Railway's ting inco from $1,92 first two ma compared with the corr: year, show 681,411 Shrinkage in Borrowingw. A shrinkage in borrowings from 10 per cent during few weel being rer ran; ! York brokerage 1 report cent fal declines while the s houses report Ng off of as much as 30 er\-“ & result, it is now estimated t $1.800,000,000, 100,000,000 on Marcn Borrowing began to ady stock market in July I; mated total of $1,3 ported on July 14 C. and 0. Orders Ralix. The Chesapeake and Ohio Raflw Co. has ordered 30,000 tons of ra Bothlehem Steel getting an order 00 tons, with the balance divided between Inland teel Illinols Steel The P Railroad is in th tons of tie Pennxy. Seeks Bond Issue. The Pennsylvania Railroad and on subsidiaries, the ti, Chicago and pproval of the Inte merce Commission today for ar issue of 00 in bonds. Of this amount $10.250,000 would be used pay off a debt owed by the Pitts burgh company to the Government while the 4 6 would reimburs both corporations for expenditure and indebtedness in behalf of subsid in re t yvears. The Central Paclfic asked proval an is of $2,600,000 preferred stock The new share will be rned over to the Souther Pacific Co, which in turn will them as collateral to securs issues Will Address Banking Class. Capt. Johin N. D. Beveridge ger of the foreign department in the Dupont Branch of the Merchant Bank and Trust Co., will addr thy banking fundamentals class of th American Institute of Banking to morrow night Capt. Beveridge perience in foreign connected with an old established London _house, and is considered « of the Best informed men on this topi in the city. George A Harris, president of the Potomac Joint Stock Land Bank lef for Philadelphia this afternoon on short business trip. | Wears Ring “Engageingly.” Another consolidation is pending District banking circles, it became known this morning For so m hs it has been r | mored t s affiliated the Federal 23 n and the Second National Banks were planning 1 unite, rumor becoming fact this morning simultaneously with the dis play of a handsome solitaire wor engageingly on third finger Miss Lois A. White's left hand, M White is the efficient secretary 1o John Poole, president of the Federa | American, and will mary Garrett M Van Hoesen of the Second at an un determined date. Both are active in American T tute of Banking work in the Capi Miss White is a former class presi- dent and is now chairman of the woman’s committee. Mr. Van Hoe- sen is chairman of the membership committee and chief consul. He was also a winner of the first essay 5,000,000 was of Cine sought ap mana has had long ex exchanga while NORFOLK & WESTERN NET FOR FEBRUARY JUMPS By the Associated Press. NEW YORK, March folk & Western made an unusuall good showing in February surplus after fixed charges amounting to $1,845,374 compared with $652,923 | February, 1924. Net operation incom increased to $2,240,804 from $1,006,- 116. Surplus after charges for first two months this year jum $3,611,676 in contrast to § the same period last year. PARIS PRICES FIRM. PARIS, March 25.—Prices were firm on the Bourse today. Three per cent rentes, 46 francs 85 centimes. Exchange on London, 91 francs 45 centimes. Five per cent loan, 56 francs 70 centime The dollar was quoted at 19 francs | centimes. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & (o Nominal Selling che £0ld salne London. pound 8665 Montreal, dollar. Paris, frape Brussels, Berlin, ‘m: Rome,’ Zurich, fren Athens, drachma Madrid. peseta Vienna, erown Budapest, crown. Prague, crown . Warsaw, zloty Copenbagen, crown Christlania,’ crown Stockbolm,’ crown By the Associated Press. NEW YORK, March 25.—Foreign ex- changes steady. Quotations (in United States dollars)—Great Britain, de- mand, 4.78%: cables, 478%: 60-day bills on banks, 4.74%. France, de- mand, .05243%; cables, .0525. Italy, do- mand, .0406%; cables, 0407%. Bel- gium, demand, .0509%; Germany. .2380; Holland, .3985; Norway, .1556: Sweden, .2693; Denmark, .1819; Switz- erland, .1928%; Spain, .1425; Greece .0169% Poland, .19%; Czechoslovakia. 202961 Jugoslavia, .0158%; Austria 001414: Rumania, .0048; Argentina. 13962; Brazil, .1120: Toklo, A1%: anghai, .73%; Montreal, .99 29-33,