Evening Star Newspaper, March 28, 1925, Page 14

14 & STOCKS GO LOWER IN SHORT SESSION Several Popuiar Industrials in Free Supply—Close of Week Is Heavy. By the Associated Press NEW YORI March 28 —Stock prices drifted lower in today’s quiet trading. There were no indications of urgent selling. neither was there any evidence of concerted buying power. Several the popular industrials were in er free supply, United States Steel common touching a new ow for the year at 115, while Ameri- can Can, American Locomotive and United States Cast Iron Pipe fell back 114 to 2 points. Better buying support was noted for the Northwestern rails, Chicago and Northwestern, -Great Northern preferred and Canadian Paci- fic selling a noint or so above yester- day’s final quotations. rather thin market was apparent In some of the specialties, Pittsburgh Coal and Philadelphia and Reading Coal and Iron each dropping about 2% points to new low levels for the year. Merchandising and food issues dis- played « firm tone, R. H. Macy & Co. and Postum Cereal each moving up more than 2 points. he nz was heavy. Total sales approximated #50.000 shares. BEARS START LATE RAID. Downward During Half Hour. ART P. WEST, The Star. W YORK. March 28.—The stock market closed weak today, most of the decline occurring in the last half Lour. Bear traders, encouraged by the absemce of the powerful support which had been behind the trading, offered down stocks right and left, driving U. S. Steel below 116 for the first time this year. Baldwin Loco- motives below 110, American Can down four points, New York Central below 115 and <o on throughout the list. Prices Last BY STL ) Dispat Force Bpec Coppers Are Heavy. Special selling broke out in Phila- dclphia and Reading Coal, reflecting the unfavorable conditions in the coal industry and the unsettled labor out- loo »me of the copper shares were heavy, Kennecott dropping below 43 again. This was due to the fall in the price of the copper metal below the l4-cent level. Pan-American stocks were evidently wait for more light on Friday’s reports of a dividend increase. It was announced that a special meeting of directors would be held on April 1, and the majority view was that the dividend would be raised to §8 at that time, Chandler Motor Advances. Chandler Motor today advanced to the highest for the current move. This buying represented the belief that Chandler’s business was showing marked improvement as compared with the time last vear when the| dividend was cut to half. Chandler| earned $4 a share in 1924. Any talk| about higher dividends is premature. Barnings would have to increase a considerable period before such a thing could reasonably oceur. Cuba Cane Sugar preferred gave further indication of special buying, although its rise today was slight. Whatever the results of the Cuban producers in 1 the Street is dis- nosed to take a favorable view of the Cuba Cane situation. This is because of the very good showing made in 1924, and the knowledge that the company is able to make a fair profit ven with raw sugar prices at a com- paratively low level. Markets at a Glance NEW YORK United States low at 115 Bonds-—Irregular; narrow oreign exchanges—Easy; s lower. otton—Lower; Stocks—Reactionary. Steel touches new 1925 price changes French showers in Texas. : European buying. GO—Wheat lower, predictions favorable weather. Corn steady; light receipts. Cattle steady Hogs higher. SRR O e s CHICAGO STOCK MARKET. CHICAGO, M 28.—Following is a list of today’s sales, high, low and closing quotations at the ock Exchange Am Pub Serv pfd. Armour . A Armour of ‘Il Commonwealth Cudaby Fair Common Libbs MeN Midd1e Middle West Tt pf Quaker Oats pfd Real Silk of Ed 10414 1914 3012 110 2815 i Tnt Tn Carb & Carbon Tn Lt & Pow A BOSTON STOCK MARKET. BOSTON, March —Following is a list of today’s highest, lowest and closing prices for the most active stocks dealt in here: High Amoskeag, . Arizons Coni Bingham Hardy Coal Ixland_ Cr INie Royale Mass Gax. Mase (ax flower 04 Dominion e Mills Swift & Co Swift 1 Tuited Warren Bro FOREIGN EXCHANGE. (Quotatious furnished by W. B. Hibbs & Co.) Nowinai Seiling checks gold yalue. today. LS80 $4.77% 2 3 London Montreal. doliar ... Paris, frane Rrussels, Rerlin, Rome. Zurich, Athens, Aadrid. Vicnna, erown... Rudapest, erown. . Prague, erown.. Warsaw. zloty pound crown TREASURY CEBTIFICATES s ackisiod by REShuud 6 003 ——Close.—— Bid. Ofter. 100 1132 : 100 © 100 29.32 101 1019327 1013 1011 02 1oty (Quota 4228 June 15, 278 Beptember i3 Decomber 1 s March 15, 1 {748 Beptember’ 15 s7is March 18, 1 4125 December 15, 15 | Asso Dry G Calif Pet pf (7). Calu & Ariz (2). Ches & Ohlo (4). Chi & Alton. Chi & Alton p Chi & East11l.... Chi & Est 111 pf. Chi Great West. Chi Gr West pf.. ChiMIL& StP... Chi Mil & SP pf. Chi & Nwn (4),. Chi R1& Pi CRI&P DI (8). ChiStPM&O Flelschmann (4) Foundation (8 Gardner Motor. Gen Asphalt. . Gen Baking (6). Gen Cigar (8). Gen Electric (8) Gen EI spl (60¢). Gen Motors (6).. | Gen Petrol (2).. Gdyear prior (8) | Tudson Mot (3). : THupp Mot (1)... FINANCIAL. THE EVEN NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Adv Rumley. . T43% Ad Rumley pf (3, 50 Air Reduct (15). 98 Ajax Rubber..:. 11% Alaska Juneau. 2% Allled Chem (4). 83% Allied Cm pf (7). 113 Allis Chalm (4). 78 Am Agricul Chim 14% Am Ag Chm pf.. 40% Am Beet Sug (4) 40 21% 92% 170% Am Brk Shoe (5) Am Can (17). Am Can pf (7 Am Car & F ( Am Chicle. Am & For Pow. . Am & Fr P pf (1) Am Internatl. . Am La Fran (1). Am Linseed. Am Linseed pf. Am Loco (118). Am Metal (3). Am Radiator (4) Am Safty Rz (3) 524 Am Ship & Com. 11 Am Sm & Ref (6) 934 Am Stl Fays (3). 49 Am Sugar. 63 Am Sugar p 974 Am Sumatra. 18% Am T & Tel (9).. 182 Am Tobacco (7). BT Am Tobac B (7). 87 A WW&EI 30c. 44% Am W W pf (6).. 101 Am Woolen. 89 Am Wool f (7). 81t Am Zinc. . Anaconda (3) . Avcher-Daniel Armour Del (7) armour of Tl A 5). 88 82i6 11t 20, 164 96% 201 179% a3 119 5% 160% 36% 40 . 100% . 116t 113% L 112 6% 63% 37% 22 43% 63 407 4% 364 38% 76 814 94 7854 Asso Oil (17 AtT & SFe (7). Atl Birm & At. .. Atlantic C L (7). AtGuif& WI... At Gulf & WIpt. Atlantic Refin. Atlan Ref pf Baldwin L (7 Bald Loco pf Bal & Ohio (6) Bal & Oh pf (4). Bang & Ar (3) Barnsdall A..... Bayuk Clgar.... Beech Nut (13).. Bethichem Stee! Booth Fisherles. Briggs M{g(314) Bkl-Man Tran BK1-Man T pf (6] Bkl Unlon G (4). Burns RBro (10).. Bur Add Ma (3). Bush Term (5) Eutte Cop (50¢). Butte & Su(50c) . Cal Packing(6) . Cal Pete (1%) 103% 28% 111% 3 47% 14 141% 16% 51 40 44 417% 33% 92% ™ 12% 814 43'% 9% 225 [ 10% 534 45 85% 41 315 9l 34 65% Callahan Zinc. Calumet & H 50c Can Pacific (10). Cent Leather, .. Cent Leather pf. Century Rib (2). Cero d Pasco (4) Certain-Teed. .. Chand Mot (3) Chile Cop (2%). Coca-Cola (T)... Colo Fuel & Iron Colo Southern. . Col G & E (2.60). Com Inv (2.50) Congol-Nrn (3). Con Distributrs. Consol Gas (5).. Consol Textile Cont Can (4) Cont Insur. (6 Cont Mot (80c) Corn Prod (2)... Crucible Stl (4). Cub Am Sug (3). Cuban Am pf (7) Cuban Cane Sug. Cub Cane Su pf. Cuban Dom pf . . Cuyamel Fr (4). Dayison Chem Del & Hud (9) Del L&Wn (7). Dome Mines (2). Doug Pectin (1). Dupoat (10). ... Elec Pow w i. ElecP &Lt pf... Elec St Bat (15). Erie 1st pf. Erie 2d pf. ... Falrbks (2.60). { Famous PI (8) Fed Mines pf ( Fifth Ave (64c). 14% 10% TT% . 108 1n 12% 47'% 127 94 2684 114 69% 497 50 284% 14% 52l 92% 104 15 62% 34% 13 24% 0% 29 70 36 64% 26% 42 16% 23% 18% 118 654 37w Fisk Rubber.... Freeport-Texas. Gimbel Bros Ginter Co (1 Glidden Co. Goodrich,...... Goodyear pf (7). 5 Granby Consol.. Grt North pf (5) Grt Nor Ore (4). Greene Canan. .. Gulf Mo & Nor. . Gulf St Steel (5) Hartman (2%). Helme House P (13%). Houston Oil Hudson Man . Independ OIl (1) Interb Rap Tr... Int Bus Mac (8). Int Cement (4).. Int Com Eng (2). Internat Har (5) Inter Har pf (7). m Int Mer Marine. . Int Mer Mar pf. Int Nickel = Int Paper. Int Pap pf st (6) Int Tel & Tel (6) Int Tel & Tel rts Towa Central. . Jones Eros Tea. Jordan Mot (3). Kan City South. Kayser (Julius). Kelly-Spring. .. Kennecott (3).. Keystone T & R. Kresge Dep Str. Lehigh Val (3%) Liggett & M(14). Lima Loco (4). TLoews Inc (2). iorrillard (3) Louisiana Oll. .. Louis & Nsh (6). 109 Ludlum (2)..... 36% Mack Trcks (6). 125% Macy HR & Co.. 178 Magma Copper.. 87% Mallinson & Co 23 Man El Sup (4)...52% Man El md(3%). 42 Man Shirt (1%). 22 Manila Electric. 38 ‘Maracaibo Oil. 26% Marland Oil. . 34% 14% 50 98 s’ 26 8314 118 78 14% 40% 40 27% 92% 1704 199 o 20% 881 3200 1% 100% 1 33 72 58 64 25% 6% 31 15% 109 36% 126'% 804 37% 23% 52% 42% 22 33 26% 34 Low. 4% 56 9% 11% 214 824 118 76 14% 3% B9 274 2% 166 118 197 55 28'¢ 8815 32'» 1% 204 Al 122% 46% 24% 6 83% 15% 108% 35% 128 78 37 28 Close. | 14% | Mar-Rock (26¢). 50 974 1% 24 82% 118 76 14% 37% 39% 27% 92% 166% us 198 65 29% 88'4 i 3% 195 | 13% A47% 2% 33 1% 58 63 24% 6 i 108% 6% 123% 8% 37 23% | West Pac pf (6). | West Air Br (6). | Wheel & L Erie. | White Mot (4).. | Wi'son & Co pf. | $838,589 in contrast Open. High. 11% 1% 28% 28% 80% 60% 874 8TW 57 BT 1034 104 124 12% I:Vo 1% 1% 2T% 2T% 98% 98% 33 33 32% 32% 8% ke B4% 34% \T4% % 427 7 17 295 67% 1Y% Low. Close. 1% 11% 28% 284% 60 60 8% 8% b4ys 65Y 101% 102% 12 2% 1% 1% 1 1% 27 27 98% 98% 33 33 R1% 31% 1% 1% 334 38 T4% T4% A1% 42 6% 7 LI o 295 295 674 674 1% 41% 214% 814 llZ% 142% 2 13& 13% 82% 32% 3 lu% % 114% 122 56 122 28% 56 21% 28% 21% 1279 A 128 45% 60% 60% 9 52y a 624 “y 45 106 107 ORI 184 76'% 6 29 4% 1% 114 @5 32 Martin-Pry (4). Mathieson Alka Maxwell Mot A. Maxwel! Mot B. May Dept St (5). Mexican Seabd. . Miami Cop (2).. Middle States. .. Mid-Continent. . Midind Pr pf (8). Min St P & SSM. Mis Kan & Tex.. M K & T pf (5).. Missouri Pacific. Missour! Pac pf. Montgom Ward. Mother Lode 76¢ Mullins Body... Nash Mot (+119.. Nat Biscuit (14). Nat Dpt Storee. . Nat Enamel &S. 814 Nat Lead (8).... 145% Nat Ry Mex 2d.. 2 Nevada Copper. N'Y Canners (2) NY Canners rts. N ¥ Central (7). NY C&St L (6}.. N Y Dork pf (5). NY NH & Hart.. NYOn & Wn (1) Norf & W (18).. North Am (8.40) North Pac (5) Otis Steel. Otis Steel pf. . Owens Bot (3). Pacific Gas (8). . acific Oil (2) Packard (t1% Pan-Amer ( Pan-Amer B ( Park & Tilford. Pennsy RR (3). Penn Seab Steel PeBples Gas (8). Pere Marq (4).. Phia Co (4).. Phila & RC&T. Phillips Pet (2). Pierce-Arrow. . Pierce-Arrow pt Pierce-A prior 8 Pierce Ol. . 37 11 87 2 6% 20 Pitts Torm ¢ al. Pitts Ut pf $1.20. Pitts Ut ctfa 1.20 Pitts & West Va. Postum-Cer (4) Prod & Reflners Pub S Gas pf(6). Pub SNJ pf (7). Pullman Co (8). Punta Al Su (5). Pure Oil (1%).. Radio Corpof A. Radio C pf (314) Ry Stl Spg (8).. Ry St Sp pf (7). Ray Cons Cop. .. Reading (4) Reading rts. Remington Type Replogle Steel. . Rep Ir & Steel. . Reynolds Sp (1). Rey Tob B (3).. Roy Duth 4.4214 St Joseph Ld (2) t L & San F (5) StL San pf (6). t L Southwest. Savage Arms. .. hulte (°8) ears-Roebk (6) seaboard Air L. . Seabd Air L pt.. Shattuck (F G). Shell Un (1.40) . Simmons Co (2) . Simms Pet (50c) inclair Oil..... Sinclair pf (8) .. elly Ofl... South Pac (8) itd Gas & EI (x) St Oil Calif (2). StOINJI (1)... StOIINJ pf (7). Sterling Pr (15). Stew Warnr (6). romberg (6) .. Studebaker (4) . Studebak pf (7). submarine Boat Superlor Oil. . Superior Stl . Sweets (new) Symington. Symington A '(2) Texas Co (3). Texds Gulf (7). Tex & Pacific. .. Tex & PacC & O Tide Wat Oil (4) Timken (13%).. Tobac Prod (6). Tobe Prd-A (7) Transcont Oil Transu & W'(2). Underwood (3). Un Bag & Paper. Union Oil. Union O/ (1.80). Un Pacific (10). Un Pacific pf (4) Utd Alloy Steel. Utd Cigar (13%) United Drug (6) U S Cast Iron P. U S Distributing US Hoft (2).... U S Ind Alcohol. U S Realty (8).. U S Rubber. U S Smelt (75c) . U S Steel (17) Universal Pipe Univer P pf (7). Utah Copper (4) Utah Securitles. Vanadtum. .. Va Ry & Power. Vivadou. Wlbnsh. s Wabash pf A (5) Waldorf (1%).. Ward Baking B. West Pen (4)... West Maryland. Western Pacific. 80% 116% 36'% 35% 117% 36% 6% 83 €4% 27 79 12% 22% 63%4 16% 39% 112 11% 39% 89 118% 99% 67% 1% 58Y% 10% 24 82 12% 86% 116% 49 17% West Unlon (7). Westinghse (4). B57% 94 24 30 124 86 114 47 16% AT% AT% | Wilson & Co. 9% Wilson ctfs 24 30 12% 861 114 47 16% Willys-Overind. Wills-Over pf... ‘Woolworth (3). Worthington. .. ‘Wright Aero (1) Wwrigley (13%).. Youngstn S&T. . 115% 48% 17% 47% 4T% 63 63 63 ‘63 {Partly extra. iPayable in preferred stock. Dividend rates ‘as given in the above table are the anuual cash payments based on the Iatest quarterly or half-yearly declarations. Unless otherwise noted. cxtra or epecial dividends are not included. MAY INCLUDE EUROPE. NEY YORK, March 28.—In the be- lief that the American Chain Store method af merchandising probably could be extended to Europe, par- ticularly in the department store fleld, Charles E. Merrill, director of 8. 8. Kresge Co., the Fair and Kresge Department Stores, Inc., sailed yé terday to study the department store business in London, Parls and Berlin. ERIE'S INCOME DROPS. NEW YORK, March 28.—A sharp drop in the Erie Rallroad's revenues is shown in the February report, net operating income having .declined to $636,020 compared with $1,497,030 in Weébruary last year. For the two months of 1925, net amounted to 1o $2.308,373 in we porivd of 1921, STAR, WASHINGTON, -D. C, MONEY BIG FACTOR | oo vom BONDS et sxcumes] | IN BOND MARKET Serious. Hardening of Present Rates Doubtful—Rift in | St. Paul Selling. BY GEORGE T. HUGHES, 1 Dispateh to The Star. W YORK, March 28.—The prin- cipal considerations affecting - the bond market today were Friday's rise in money rates and the continued liquldations of French government sccuritfes. The best opinion Is that there ‘is little chance of the money market seriously hardening, and that this week's moderate rise has been | mainly due to preparations for the heavy interest and dividend require- ments on the first day of the new quarter. Nevertheless Liberty bonds have been inclined to sag a bit and dull- Ness has settled upon the market for the higher grade corporate se- curities. Bonds like Union Pacific 4s, Baltimore and Ohio 4s and Atchison 4s are scarcely changed at all, as compared with a week ago. The sell- Ihg pressure against the St. Pauls |appears to have ceased, the idea spreading that they have discounted the recivership, Wilson & Co. issues were quite strong today. Buying in the Pan- Amherican Petroleum Convertibles in- spired by reports of a dividend in- crease on the stock from $6 to $8 was not resumed. The selling of French government | bonds carried them do new lows for the year. The 7 per cents were sell- ing nearly 6 points under the figure at which they were brought out last November. The 8s were practically back to their issue price. Washington st.ock Exchange. SALES. Capital Traction 5s—$2,000 at 98, $500 at 98, Chesapeake & Potomac Tel. 55—$1,000 at 100, '$1.000 at 100, 33.000 at 100 v mn'.mn G Washington o5 "33 $1,000 at 1033, 3400 at 102, $700 at 102, | 9%, $13.000 at 9%, Lo ash. Ry & Eiee g & Washington Gas Light_—10 at 581 Wasbington Rwy. & Elec. pfd. 22 at S0k tonal Bank of Washington—1 at 225, 10 10 at 225% Continental Truni Co.—10 at 87 Lanston Monotype—15 at 81. ational Mtge. & Invest. prd.—200 at 9%, 50 at 9%, 50 at 9is. AFTER CALL. Potomac Electric 1st 55—$1,000 at 100. BONDS. Bid and Asked Prices. PUBLIC UTILITY. o Tel. & Telga. 4s. American Tel. & Telga. 415 Am. Tel. & Tel ctl Am Tel. & Tel. conv. bs. Potomac Elec Potomae Elec. by 1903.. Pow g m. & ref. Alex. & Mt Ver. 5 Pot. Joint Stock Riggs Realty bs (long).. Riggs Realty Gs (short) Southern Bldg. 6lus...... Wash. Mkt. Cold St Wardman Park Hotel STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga pital Tra ? nington_ ¢ orfolk & W ask NATIONAL BANK. ational Capital ......... ambis Commercial District .. Farmers ‘& Mechanie: Federal-American Liberty .. National Riges - | Second TRUST COMPANY, American Sec. & Trus Mercha atiousl Savings & Tru Commerce & Savings Fast Washington . Security Savings & Co. Seventh Street . United States Saving Washington meuamu Ameri Corcoran . Firemen's . Nationul U Columbis - Real E: MISCELLANEOUS. D. C. Paper ptd 50 Merchants' Transfer & Storage.. 110 Mergenthaler Linotype 171 National Mortg. & Inves [ 0ld Dutch Market com 2 01d Dutch Market ptd Lanston Monotype Security Storage Washington Marl Yellow Cab - *Extra dividend. 1 81 360 GERMAN BONDS AND STOCKS. (Quoted in dollars per mllllnn ulrll ’ed 1914-18 lm o 1675.00 G ar loan) Ger Gt (war loan) 5 L Hamburg 4% 1 Ger Gyt 405 (forced ioan) Ger Gt 8-153 1023 (sm pieces) (Quoted in doliars per thousand Ger Gen Elec 438 1919 3.4 Berlin 4 pre-w o Hambg 35, 3%s & Hamburg ‘Amer, Line 43 North German Lioyd 4 North German Lloyd. Prussian Consols 3! Krupp 58 1921 Dusseldort 43 pre-war Frankfort a-M 48 pre-wai Munich 4s pre-war. Hedische _Anilin A E G (Ger Ge Eiecj. Commerz and Privat Bl Disconto Gellschaft. Dresdner Bank Deutsche Bani Darmstaedter Bank. Mercer Bank Vienn marks.) * .00 14.00 6.00 28522k ¥388318888858: 8¢ s $EBEESRAES R, 3sssssssssssu DAIRY PRODUCTS. BALTIMORE, Md., March 28 (Spe- cial).—Live ~poultry-—Young _chickens, pound, 2535 ; Leghorns, 25230 ; Spring- ers, 55a60 ; Winter chickens, 45a50; old hens, 25a30; Leghorns, 25; old roosters, 17a18; young turkeys, 40a45; old, 35; poor and crooked breasts, 25 ; ducks, 25 a32; geese, 23a26; pigeons, pair, 50; guinea fowl, each, 5021.00. Dressed poultry—Turkeys, pound, 35a 45; poor and crooked breasts, 25; chickens, 30a35 ; old roosters, 13 ; ducks, 30835 ; geese, 20a25 ; capons, 33a4s. Bggs—Receipts, 1,330 cases; native R, e Lok L goose 85a1.00. ‘Butter—Good to flM.Y povind , 45250 ; prints, 50852; ladles.” 29830’ * store packed, 24; dairy prints, 24a23; process | buiter, 3ia32; rolls, 24azs, i acson | 5 | i iConGN SATURDAY, MARCH 28, -1925. Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Sates are 41 101 20 225 102 17 100 20 54 104 24 US4s1944. US4%s'52. in $1,000.) Low. 1019 Close. 1019 100 28 100 29 FOREIGN. Argentine 6s A. Argentine 6s B. Argentine 7s Austria 7s. . Bank of Japan 6s. Belgium 6s. . Belgium 6%s w I . Belglum 7%s. ... Belgium 8s. Berne Bolivia 8s . Bordeaux 68 Brazil 7s. Brazil T%s Brazil 8s. 5 Canada 5s 1952. Chile 75 1943 Chile 85 1941 Chile 8s 1946. . . Christianfa 83 Con Pow Japan 78 Copenhagen 5% Cuba5%s. .. Czecho 85 1951 Czecho 85 1952 ct.. Danish Munic 8 A Denmark 6s. . Denmark 8 DEI5%s Mch 53, D EI5%s Now '53. Dutch East I 6547 Dutch East I 6s'62 Salvador 8s'48. Finland s f 6= "45. . Framerican 7%s. . ¥rench 7s. French 714, . French 8s. Ger Fl 6155 German ... Ger Gen Elec 78 Greek 7s. Haiti 6s Hungary 6%s. Japanese 4s. Japanese 614 Jergens U M 6547 Lyons 6s. ... Marseille 6s. . Montevideo 75 Netherlands Norway 6s 1943 Norway 6s 1944. Norway 6s1952. Paris-Ly's-Me: Paris Orleans Poland 6x°40. ... Poland 8s 50 wi Prague 7i4s. Queensland 6s. ... Rio de Jan 8s 1945, Rio de Jan 8 1947. Sao Paulo City 8s. Sao Paulo State 88 Seine Dept of 7s. Serbs Crot Slo 8 Sweden 5%s ct. Sweden 6s. Swiss 5% Swiss Confed §s Toklo bs. . Ud Kingm § Ud Kingm 51537 Zurich 8s. . High. 96% 964 102% 4% 9% 84% 92% 108 107% Low. 264 96 102% 94% 9k 84% 92 108 107% 109% 92% 83% 8214 106% 96 103% 99% 107 107% 110% 20 96 9% 99 99 109 1014% 110% 97% 97% 100% 100% 103% 84 914 8814 067 100 878 9% 3% 84% 98% 88 819, 90% 93% 84 84 90% i 102% 9%, 99% 99% 6% 84 837 69 95 893 104 9414 o3 974% 100 87 86'% 9914 1034 101% 113% 651 115! 106% 109'% Pt AR NBR B R e a1 ames a3 17 MISCELLANEOUS. 2 100% 100% 1 Am Agr Chem 5s.. Am Agr Chem 743 Am Chain sf 6833, Am Cotton Oil 5s. . Am Repub deb 6s Am Smlt & R 15t b¢ Am Sug ref 6s... |Am T& Teltris.. Am T & Tcl trbs. AmT&Tsf5s AmT& Tdebsis Am Water Wks b Anaconda 1st 68 Anaconda cv db 7s. Andes 7s 2o/ pd. . Armour & Co 4% Armour Del 5 Associated Oil 6s.. Atlantic Refin 5s. | Bell Tel Pa 58 Beth Steel pm 5i Beth Steel rf b3 Beth Steel 545853, Beth Steel = f 6s. Brier HSt 1st 5%s Bklyn Ed gen Bush T Bldg 55 '60. Can Gen Eldeb 6s. Cen Leth 65'45 cfs. Chile Copper 6s Col Gas & El 5s Col Gs & El 5s sta. | Commonwth P 6s. Con Coal Md 1st 53 ¢ 58 wi.. Consumers Pow 5 Cont Mil 61 "44 Cuba Cane cv 7s. Cuba Cane cvd 8s. Cuban Am Sue 8s. Denver Ga: - Det Ed!son 5s '40 Det Edison ref 6s. . Donner Steel 7s. Du Pontde N 7% Duquesne Light Est Cuba Sug 7%s Empire G&F T%s Gen Asph 6s '39. Gen Elec deb s Goodrich 613s. . | Goodyear 8s 1931 Goodyear 8s 1941 Hershey 65 1942. Humble O&R 5% Illtnols Bell 1st 6s. Tiilnols Steel 444 Indiana Steel 58 Int Mer Marine 6: Inter Paper 6s ‘47 KCP&Lt5sA’ Kan G & El 63 '52 Kelly-Spring 8s. Lacl G ref 5s'34 Laclede G 5%s " Liggett & Myrs bs. Liggett & Myrs 7s. Lorillard (P)7s.. . | Louisv G & E 5552 Magma Cop cv 78 Mid-Con 6%s, "40, Midvale'Steel 6s. .. Montana Pow &8 Mor’s&Co 1st 4 New Eng Tel 5s NY Ed 5844 wi. N Y Edenlst 614s NYG EL H&P 4s. . N Y Tel 6s'41. NY Tel 65’49 North Am Ed 6s. North Am Ed 614s. Nor Ohio T&L 6s. Nor States Pow bs. Nor States Pow 6s. Otis Steel 8s.... Pacific Gas & El §s Pac T& T 1st s PacT&T6s'52 97 97% 92 3% 15974 10 93 4 94 30 @ 13 102 T 96% 14 1005 114 95% 8 1024 8 95ix 52 99% 5 101 60 96% 8 87 . 20 92"! 119% 103% 1007 9944 948 1024 88% 88% 10117 10118 101 27 101 27 100 18 100 20 104 22 10422 Close. 96% 96% 102% 9474 9% 84% 92 108 107% 109% 92% 83% 2% 100% 29y 9d%; 1024 a8y 88% 9774 100% 95 99y 8y 99% 119y% 115% 93% & Pan-Amer Pete 65.202 113 Phila Co 5%s'38. 'Phila & Rd C&I 5 Plerce-Arrow 8: Public Service 63 Saks & CosfTs.... Sharon St1 H 8s Sinclalir Oil 63. Sinclair Ofl 6%s. Sinclair Ol 7s Sin CO Pl..’i' Gsmj in Pipe Line Skcelly O118% Southwest Bell &: Tenn Elec Pow 6s. Tide Wat Ol 6%4s. Toledo Edn 1st 7s. Union Bag & P 6: United Drug 6s U S Rub 1st rf 5 U S Rubber 7% U SSteel s £6s. Utah Pow & Lt bs. Va-Car Chem 7s. Va-CarCh 7%s w. Vertientes Sug Warner Sug 7s 39, Warner Sug 78 '41. West Elec bs. . ... West'n Union 6%s Westinghouse 7s... Wickwire Spen Ts. Willys-Ov 6%s 33 Wilson & Co 1st 6. ‘Wilson & Co ov 6s. Wilson&C'ov 7% Winchester A 7%s Youngstn S&T 6s. . .6_ 961 _ 17 92% 6 964 2 106% 2 106% . 89 107% 112 88 S18 91y 23 100y 10 84% 2 108 62 98 1 101% 3 103% 13 110 1 94% 7 101% 7 8% 4 105 11 108% 94% /6% 1105 1075 85 100 954 1234 725 5 101% 101% 7 98% 9 96% 90% 99 888, 1004 1104% 107% 25 100 95% 2% 3 101% 98 1 RAILROADS. Sales. High. 5 64 3 83% 52 8% 1 91% 3 86% 24 88% 92 101 103% 102 100 68% 86% 84% 84% 2 1le T9% 874 Ann Arbords..... Atchison adj 4 Atchison gen 4 Atlantic C L 1st 4s. Atlautic C Lcl 4s. rfimp 6s. . O 8W div 3%s. 33 B & O Toledo4s... "2 B&OPLEWV4s.. L Bklyn-Manhat 6s. 3L Buff R & Pitt 4%s. Canad North 7s. .. Canad Pac deb 43 Central Pacific ¢s. Ches & O cv 414 Ches & O gn 4%s. Ches & O cv b8 Chi B&Q gn 45 '53. CB&Q-TI3%s Chi & E I gn bs. Chi GreatWest 45 CM & Puget Sd CM&StPin'2s 10 10 60 ,, B 1 2 b a 4 3228000047 10 & Sou 4148 Cuba RR6s... Del & Hd 1st rf 4s. D& Rio G Wst bs. Erie 1st cons 45 Erie gen 4s. Erie conv 43 A. Erle conv 48 B. Erie conv4s D Erle con ext 7 Gr Trunk st db 6s. Grand Trunk 7s. Great North & Gr North 515 Gr North gen 7s. Green B & W db B. 59 Hud & Man ref 6s. 13 Hud & Manajbs., 7 111 Central ref 4 1i Cent ref 55 '5 1i} Central 5158 Int Rap Tran bs. Int Rap Tr 5s stpd Int Rap Tran 6s. Int Rap Tran 7 Int & G Nor aj 68 Towa Cent 1st 5: Kansas City S 3s Kansas City S 5s.. Lake Shore 48'31. . Lehigh Val 5s 2003 Louis& N6sB nhat Fey cn 4s Man Ry 2d 4s 2013. Market St Ry 7s. .. Mil EI Ry & L 5s. b & SSM 5133, MK&T1st 4 MK = B. MK & T adj 5. MK&Tprinbs A Mo Pactfic zen 4 Mo Pucific bs '6, Mo Pacific 6s. . NOTex&M3sB.. NOT&M5%s N Y Cengen3ly N Y Centcn 4895, N Y Centriss N Y Cent deb 6s NYCent LScl3%s NY Chi & St L5 NYC&tL6sA New Havcd 6s NY Rys adj 5s ct NY W & Bos 4% Norfolk & W ci Norfolk & W cv §s' 25 Northern Pac 3s... 1 Northern Pac 4s. Northern Pacss D. 3 Northern Pacr 1 68 19 Ore & Calif 1st 5. 1 Ore Short Liref4s. § Ore-Wash Istrf4s 3 Pennsyl con 43s. ., Pennsyl gen 414s Pennsyl gen bs Pennsyl bs "64. Pennsyl 64s..... Pennsyl gold 7s. Reading gen 4s. . Reading gen 4148, RIATk & L4%s St LIM&S 48°29... St L IM&S R&G 4s. StL&SFpl4sA.. StL &S F prin bs. StL&SF 5%%sD.. StL&SF inc 6s StL&SFplésC.. StLS W Ist 4s.. St P & KCShL w.s St P Un Dep bs. San A & Arn P 4s.. Seab’d A Ladj Seab'd A L con 6s. . Sou Pacific ref 4s. . 13 Southern Ry gn 4s. 7 Southern Ry st 6s 10 Southern Ry 6s cte 7 Southern Ry 6%s. 6 Texas & Pac 1st 5s Third Ave adj 5s. Union Pac 1st 4s. Union Pac 1st rf 48 Union Pac 4s '27,, Un Pac Istrf5s. .. Union Paccv és. .. Virginia Ry 1st 6s. VaRy & P 1st 63 Wabash 2d 58 ‘Washash 5% Western Md 4s Western Pacific 55 ‘West Shore 1st 4s. Whel & LE rf 4%s ‘Wisconsin Cent 4s. ICONSERVATISM NOTED IN BUSINESS CIRCLES By the Associated Press, NEW YORK, March 28.—The ~on- servative lines on which large cor- porations are conducting their busi- ness apparently without inflation are reflected . in recent annual reports for 1924. The Bethlehem Steel, al- though operating at 85 per cent of capacity, showed inventories of only $79,000,000, compared with $89,000 000 at the beginning of last year. Inventories of General Motors were reduced to $97,000,000 from $138,000,- 000, while United Sgates Steel re- ported only a small increase to $285,- 000,000 from $270,000,000 a year ago. ROCKEFELLER PREDICTS GOOD COPPER YEAR By the Associated Press. NEW YORK, March 28.—A prosper- ous business year was forecast by Percy Rockefeiler, a director of the Anaconda Copper Company and other corporations, on his departure for Europe today. “Conditions are fun- damentally sound and there Is noth- ing to worry about” he said. “We have had some temporary setbacks, ‘but they have been purely local. I am positive things are coming out all right.” 19 1 €000 O 0 1S = 10 109 13 1= aomaeSan 1 1 3 4 1 3 3 1 11 15 2 3 2 5 1 3 JAPANESE DELAY LOANS. NEW YORK, March 28.—Invest- ment bankers report that the Ja- | panese government is fostering a con- 'servative policy regarding flotation {of loans'in this market, which ac- counts for the delay in launching a number of issues which had been re- ported under ‘megotiation. Some of the proposed corporation issues, it is indicated, may be held back to give the city of Tokio right of way in ar- ranging for a reconstruction loan of $15,000,000 o 725,000,000, I ness here. i vance, May [to 300 1b. "averages, FINANCIAL. COTTON SELLS OFF IN BRIEF SESSION Unsettled Weather Outlook Over Sunday Is Factor—Late Covering. By the Associated Pres: NEW YORK, March 28 —The cotton market opened steady today at a de- cline of 7 to 16 points under a con- tinuation of yesterday's selling move- ment. Liverpool was relatively steady as a result of subsding liquidation, covering and trade buying, but the showing of the cables seemed to make little impression on sentiment locally, and active months sold 22 to 24 points net lower, In early trading, May declin- ing to 24.70 and October to 24.67. Prospects for unsettled weather over Sunday in the Southwest may have accounted for some of the selling and it looked as if old long lines car- ried over yesterday's break were com- ing on the market this morning. Spot house brokers were buyers of May, and there was considerable covering. but the market was within a point or two of the lowest at the end of the first hour. New York futures closed barely steady at net decline of 39 to 41 points. i Range. July October December .. January 3 Opening: May, ; December! . New 0 NEW ORLEANS, March 28.—The cotton market opened decidedly eas- fer, notwithstanding that cables were better than due. First trades on the more active months showed losses of 19 to 23 points. The forecast also called for increasing cloudiness and showers for nearly all parts of the West. Prices continued to decline after opening call with rather heavy selling for both accounts. July trad- ing down to 24.95 and October to 23.95, or 24 to 26 points under the close of yesterd: New Orleans futures closed steady at net decline of 34 to 40 points. High Low 2402 24.03 2393 24.50; ) 24.00; 23,5486 2389 384 86 October, 95 bid TODAY'S GRAIN PRICES. CHICAGO, March 28.—Although the wheat market showed an upward tendency at the opening today, prices quickly declined. Enlarged export busin together with relative strength of Liverpool quotation: chiefly responsible for the initial firm- On the other hand, rains were reported at various places in the dry area Southwest and there was re- newed selling on the part of the hold- ers of May contracts. The opening, which ranged from % lower to 1 ad- 157 to 1.58 and July, 1.43 to 1431, was followed by gains all ound. and then by a sharp reaction, h May dropping from 1.59% to Opening: ‘ifay, 24.00; December, Corn and oats were firmer, owing | to absence of any fmportant selling. After opening unchanged to % high- er, May, 1.09% to 1.09%, the corn market scored moderate general gains, interrupted by a transient set- back owing to sympathy with wheat Oats started at % off to '4 up, May, 43% to 43%. Later all months show- ed gains. Higher quotations on hogs steadied the provision market. W THEAT— 0 High, Low. September OATS— Beptember . RYB— CHICAGO LIVE STOCK MARKET| CHICAGO, March 28 (United States | Department of Agriculture)—Hogs— ! Receipts, 1,000 head: uneven; stea to 15 higher than Friday's averag: light weight showed 10 to advance; weighty kinds unchanged; top, 13.50; bulk 15 13.25 to 13.30; few 140 to 150 1b. weight, 12.50a13.10; odd lots of packing sows, 12.40a12.9: !limited quota of sale strong weight | aughter pigs, 11.50a12.00; estimated hold over, 5,000; heavy 13.50. Cattle—Receipts, 500 head, compar- ed week ago beef steers about steady; yearlings strong to a shade higher: | better grade fat she stock strong to 25 cents higher; low-grade kind and canners and cutters 25 to 40 cents lower; beef bulls active, strong to cents higher; bolognas about steady veal calves practically unchanged; stockers and feeders, 15 to 25 cents r; top for week, light yearlings, 0: long vearlings, 12.35: handy- weight steers, 11.75; big weight, 11.6; searling helfers, 11.50; bulk prices fol- | How Fed steers and vearlings, 8.75a 10.75; faf cows, 5.25a7.25; beef helifers, 7.5029.25: canners and cutters, 3.00a 4.23; veal galves, 9.00a10.50; stockers and feeders, 7.00a8.50 Sheep—Receipts, 11,000 head, prac- tically all direct; for week, around 24,000 direct and 166 cars from feed- ing station, compared a week ago all classes of lambs 25 to 50 cents lowe: fat sheep steady; week bulk on d sirable weight lambs, 15.50a16.25; week's top, 16.75; closing top quotable 16.00; extremely weighty kind, mostly 13.50a14.00; 65-pound California springers, 17.00, first of season; d sirable weight clippers, 12.00a13.25 top, 13.75; wool, ewes, 8.50a9.50; clip- ped ewes, 8.00; feeding and shearing lambs, 15.50a16.50; week's top, 16.75. SHORT-TERM SECURITIES. (Quotations furaished by Redmond & Co.) Aluminum Co. of Amer. 7s 1933. American Sugar 6s 103 American Tel. & Tel. Anaconda Copper 6s 1029, Anglo-American 0il 7348 1t Associated Oil 6s 1033 Baltimore & Ohlo 6s 1929 Bell Tel. of Canada 58 1925 Central of Georgia Os 1920. Cent. Leather 5s, April 15, 1925 Chi., Mil. & Bt. Paul 6s 1834. Chi.; R. 1. & Pacific 5%s 1926. City of Lyons 8s 1984. Columbla ‘Gas & EI. 1st Continental Gas & Elec. 5s 1027. Du_Pont 7%s 1931.. Pederal Sugar Ref. 6s 1933, Federated Metals Ts 1909. Goodyear T. & Il. 8s 1031. Great Northern 7s 1033, Gulf Oil Corp. of Pa. 5i5s 93 Jimmilacorr Siie 183, Pure Ol 5%s, Auj Bwift & Co. 38 1 Tidewater OIl 6% 1031 Unlon Tank Car 7n 1980, 1830. wtern Union 6tgs 1 Westinghouse E. ‘& M. 7s 1931 Flslier, Body Corp. Gs 1027, called on r‘n 1, 025, at 1135, Fisher Body Corp. 6s 1928, called on Feb. 1, 1925, at i02, £ s e RATES ON BAR SILVER. NEW YORK, March 28.—Bar silver, 678 ; Mexican dollars, 517. LONDON, March 28.—Bar silver, 3113-16d per ounce. - Money, 3% per cent. Discount rates—s menth billg, 4 7-16 p and Tcent. o three- was | 15| largely | veight, 13.15a | . & P.FEBRUARY EARNINGS 110,145 Drop of 39000 Under Re- turns in 1924—B. & 0. Has New Financing Plans. BY CHAS. P. SHAEFFER. The Chesapeake and Potomac T ephone Co. netted an income $110,145 last month, a loss of approx imately $9,000 as compared with Fel ruary of 1924. In January of th vear the net was $119,786. Total operating revenue showed gain of about $18,000 to $500,595, 2 compared with February of last vear This gain was offset, however, by a increase of about $23,000 to $347,02% in operating expenses. Taxes assignable to operations and uncollectible amounted to $39,489, bu income from other sources Incurred a deficit of $3,932. Net additions to plant and equip- ment during the first two months of 1925 totaled $256,194, including re tirements of $115,723. New Bank Offfters Named. Milton E. Ailes was named presi dent of the Northwest Savinge Banl yesterday afternoon at a specia meeting of Riggs directors, succeed ing Francis M. Savage, w recent disposed of majority stock to the Riggs institution. Other members « the official family of the Northwes! were named, indicated in th column yesterday Directors of the were retained include James M. Beal Dr . C. Birdsall, Frank S, Bright Gregg C. Burns, M. E. Dyer, Jesse H Hedges, Charles G. Hubbard, Georz: H. MacDonald, W. S. Miller and D Carden F. Warner. w member chosen were Milton E. Ailes, Rober leming, Charles Carroll Glover George 0. Vass, Hilleary G. Ho: Nelson B. O'Neal, George | and I J. Roberts. Mr. Vass will have charge of new office, but will remain at parent instituti Mr. Burns be in direct charge. The final chapter of a branch ban) ing controversy that has been occn pying the attention of the local bar ling fraternity for vears is thus wr ten. Riggs, by purchase of the Northwest Savings, has acquired fine bank building. approximate! $1,000,000 in good. clean accounts an: a choice location in a growing vicin itv. Francis M. Savage, the selle | réceived a very generous figure fc his holdings, which figure is offered to minority stockholders as well, Northwest wh w H B. & 0. Plans for Financing. The final step in the Baltimore an {Ohio Railroad’s $150,000.000 refund ing program will be competed this Spring through the sale of abo $45,000,000 in bonds to retire 313 per {cent issue of the Southwestern div | sion maturing on July 1 next The interest rate of the new bond it is reported, will be s or € pe cent. The Baltimore and Ohio pre pared last vear for most of its an { proaching maturities, selling a $7 000,000 issue of first mortgage 5= an« $25,000.000 of general mortgage 6« Other Financial Notes. of the pre-w P ¢ well as the post-war iss nates after J pan govern according to Gern This old currency may be exchang only in packages of 10,000,000.0¢ { marks or multiples thereof at tk rate of 1,000,000,000.000 marks t reichsmark Bradstreet's ness failures March 26 puts increase of 7 {and 34 more Aggregat compilation of bus »r the week ended the ber at 397, a over the previous weel than a year ago. value of railway equ'y h is estimated and freigi | Rallway Age “luded 106 locomotives, 4.6 | cars and 111 passenger coaches. Ther ‘nrdnr- were larger than in Februa but much less than in March of 1 )u.\r Record Day on Exchange. | The heaviest bond trading in sc | eral years was enacted on the lo: | Stocic hange this morning, mo than $80,000 in face values changing hands. Except for Washington Gas {35, which gained three-quarters of : point, to 98%, the tenor of this clas: | of security was weak. Capital Trac- tion s, C. & P. Telephone 55, Potomac Electric first s and Potomac Electric consolidated 3s all registered a de- cline of a quarter point. Railway 1s were in excellent der selling o the extent of §1 798, while trading in Raily general 6s wa even more violent, $31,000 selling a point better than par. National Bank of Washington stc gained 4% points, to 2251, on sales « 21 shares, and Continental Trust Co. established a new high at 8713 GRAIN AND PROVISIONS. BALTIMORE, Md., March 28 (Spe- cial).—Potatoes, per 100 pounds, 1.00a 1.35; new potatoes, barrel, 4.00a11.00; sweet potatoes, barrel, 2.50a5.00 yams, barrel, 2.50a5.00: asparagus, dozen, 3.0028.00: beans, hamper, 4.50a 6.50; beets. crate, cabbage ton, 16.00415.00 50a1.00 carrots, bushel, aulifiow er crate, 1.75a2 cucumbers, bushel, 50a5.0 y, crate, 1. iplants, crate, 3.50a5.50: fettu ket, 1.00a2.00; onions, 100 pounds a3.35; oyster plants, 160. 4.00a6.0 parsnips, hamper, 30a35: peas, hamper 2.00a3.5 peppers, crate, 4.00a7.00; radishes, bushel, 1.00a2.00; spinac bushel, 40260; squash, crate, 4.00a5.00 tomatoes. crate, 250a6.00; turnips, basket, 50a85 Apples, packed bushel, 1.00a2.25; 3.00; oranges, b berrics, quart, 40a50. Selling Prices at Noon. Wheat—No. 2 red Winter, sp port, uo quotations; No. 2 red Winger spot, domestic, 1.70%; No. 2 red Win ter, garlicky, domestic, 1.70%; No red Winter, no quotations. Sales—None Corn—Cob, new. vellow, 6.75 per barrel; track No. 2, 1.2 Sales—] Oats—No. Rye—Nearby, spot, 1.28 Hay—Receipts, 12 tons. The local hay market is very quiet, with a ample supply of all grades and kinds on hand to satisfy the limited demand prevailing. The competition of tru receipts from nearby country points is making itself severely felt. Quotations today: No. 2 timoth 19.00219.50; No. 3 timothy, 16.00a17 No. 1 light clover mixed, 18.00al No. 1 clover mixed, 17.50a18.00; No. clover mixed, 16.00a17.00. Straw—No. 1 wheat, 15.50a16.00 per ton; No. 1 oat, 15.50a16.00; No. 1 straight rye, 18.00a19.00. P ARG NEW YORK DAIRY PRICES. NEW YORK, March 23.—Butter Firm; receipts, 7.988 tubs; creamery higher than extras, 46a463; do., ex- tras (92 score), 45a4b%. Eggs—Steady: receipts, 26,988 cases; Pacific Coast whitcs, extras, 40a4l Cheese—Firm; recepits, 48,193 pounds. LIVE POULTRY HIGHER. CHICAGO, March 28.—Poultry, alive, higher; fowls, 28; springs, 3 ers, 19 turkeya. 23; ducks, 1, barrel, grapefruit, 5.50a6.50; 3.50: box, 2 straw- spot, 6. corn, yellow g lot of white at 1.12. 1, 55; No. 2, 56 1.10a1.20; No. 2