Evening Star Newspaper, April 5, 1925, Page 38

I g8 EINANCIAL," INTEREST IS AGAIN TURNING T0 BONDS Distinctly Stronger Tone Noted in Past Seven Days in-Nearly All Classes. THE SUNDAY: STAR, WASHINGTON, D. C, APRIL 5, N GRAN HARKET High. Low. High. TLow. 1. S. BONDS. Late Trading. 10128 98-22 101-29 100-28 Liberty 3%s 1932-47. 10221 96~ 102-1 101-14 Liberty 1st 434s 1932-47 NEW YORK, April 4. —Pronounced strength in the public utility .list, Wheat Prices Suddenly Swing Upward — Corn Again 102 ©8-4 101-31 98-4 Liberty 2d 4% s 1927-42.. with seyeral issues recording sub- Above $1 Per Bushel. 1925— PART . 1. BUYING STILL SL0 IN STEEL MARKET Second Quarter Gets Rather Poor Start—Review of Other Metals. SPECIAL MOVE PLANNED TO HELP COTTON TRADE By the Associated Press, MANCHESTER, Eng April 4 The conference h of representa- tives from all branches of the British cotton industry to consider means of improvement in the trade, which ad Journed last evening, will reassemble | after the Easter vacation. The | official statement issued, to the eff that various suggestions for improy- ling trade made to the confer will be Investigated and repo upon, while hardly illumining ken as augury for definite steps DUTCH SOCIALISTS URGE SMALLER ARMY Project Last. Yield. 101-13 3830 10129 399 101-5 384 101-13 3 80 High. Low. 101 18 101-7 101-29 101-18 101-5 100-26 101-28 101-15 102-5 10126 10420 104-22 Prev. week's Close. 9614 10212 94% 84% 108 for Disarmament Intro- | duced in Chamber, Operative From January 1, 1926. 10223 99-8 101-23 101-1 Liberty 3d 4%s1928..... 103 98-8 102-4 101-20 Liberty 4th 43 1933-38. 10708 99-8 105-3 104-4 Treasury 4i4s1947-62 stantial advances at the opening, fea- tured a comparatively quiet half holl- day session on the curb exchange to- TP Pl T s e - Law." figh, Low 96 891, 967 95 day. Of chief interest was the sharp 108% 100% 103 101% upturn in Tennessee Klectric Power, B 8% gk M which rose 4% points to 58%. Com- = RN ! monwealth Power advanced 8 points 111 110% 106% and Consolidated Gas of Baltimore 109 108 also was in demand at a gam of o 2o% about @ point. o5 98% There was a_substantial reversal 104% 104 in Glen Alden Coal, which recovered 106% 105 about 6 points, selling to 130. Petro- 1044 10314 leum shares were neglected, and 00 108% slight recesslons were registered in 108 1054 the more prominent issues. Standard ik 45 Ofl of Indiana opened a point higher, pos 7% but faied to maintain the advanc Creole continued in demand, moving up to 13% High Argentina Argentina 7 Austria s f 7s 1943. Belglum 6s 1955. . Belgium 7%s 1946. Belgium 85 1941 Bordeaux 68 1934. Brazil 851941, Canada 55 1952. Canada 6%s 1929. . Chile 851926 Chile 85 1941 Chile §s 1946 Chinese Govt Ry Copenhagen 51¢s 1944. . Czechoslovakia 8s 1951. Denmark 6s 1942, . ... Denmark 8s 1945. ... Dutch East Indies 6s 1947 Dutch East Indies 6s 1962 French Govt Tts 1941 THE HAGUE 96% 97 1% the | troduced in Social D By the Associated Prei CHICAGO, April 4.—Right - about- face action in the wheat market and in other grain took place today. Wheat scored an advance of as much as 5% a bushel, May rising to $1.43%, compared with $1.38% at yesterday's finish. Part of the strength was associated with indications that the United States visible supply Monday would By the Associated Press 5 NEW YORK, April 4—The heavy production and. large deliveries of steel during March left the steel market at | | the beginning of the second quarter in a rather unfavorable position. New buy- ing has been slow during the week, ex- cept In @ few cases, and there is a no- ticeable disposition on the part of pro- ducers to reduce their output to con- BY GEORGE T. HU 1 Dispateh to The Star. W YORK, April 4.—Investment is again centered on bhonds. ek ago it looked as though the break in stocks had gone far enough to tempt investors to take on sea- wsoned dividerd paying issue: but so far there has been little of that sort of buying. Prices are indeed well down from the highs of Midwinter, but evidently vields obtainable at ES. Epec Report Shows Net Not Quite Up to Last Year's Record. N ' k Co. had net earnings | in 1924, compared with nd $1 in 101 101 101% 103 111 103 102% ROCHE ~The | defense STEEL ORDER ish d S GROW. present dividend rates are still too low corgpared with those on bonds of about the same rank. Possibly, also, the well known principle that no one wants to buy on a falling market has something to do i Whatever the cause, tl that, as far as the Investor i cerned, bonds, and not stocks, are in demand. Perhaps demand is too strong a word, inasmuch as there is no rush to buy even fixed interest- bearing obligations. It is true, how- | ever, that the bond market distinctly stronger tone t seven days ago. Liberty Bonds Higher. The better feeling is manife only in the high-grade obligations. but in those semi-speculative qualities Taking up the former c first, United States bonds are higher the week—not very much higher, but enough to show the trerid. Here the influence plainly is to found in the money situation. Accommodations for six months are in supply at 41, per cent, #nd call funds have been obtainable this week under 4 per cent. As far “s any one can see, higher rates are not likely for some time to come. There is no longer the early Win- ter demand for money from specu- lators either in stocks or in grain Business is taking a fair amount, but the supply is ample. Gold ex- ports are not now looked upon with | the concern which so many professed to feel in January and February. Under the circumstances, it would be surprising if there were any weakness in investment bonds Business Conditions Stable. | To explain the slowly developing strength in second-grade and semi- | speculative bonds, an entirely differ ent set of considerations must be ex- | amined. In the first place, a return | of from 6 to 7 per cent, reasonably well protected by earnings, looks very attractive in a bond when stocks are selling to give about the There are many such bonds sc throughout the list The business outlook may not be glowing enough to persuade investors to accumulate partnership shares in an enterprise with an idea to capital appreciation, but the business situa-( tion is able envugh to assure fixed charges being earned aud paid It capitalization is conservative and management efficient. In other words, there is no slowing down in industry which would put « creditor inj Jeopardy even while a partner might find profits not =o high as he could wish. Buyers Combing Market. cting on this reasoning shrewd buyers have been combing the bond list to find obligations which meet their required tests. Selections are not being made indiscriminately nor by groups. For instance, there are few railroads and a few tractions and = few Industrials in doubtfou financial | position in recent years but the earnings of which now show a definite upward trend. not sufficient vet to | justify directors in inaugurating | dividends but enough to remove doubt | &5 to uninterrupted interest payments. It is the bond issues of these corpora- tions which are now in favor among those who like to combine some spec- ulation with their investments Opportunities Overlooked. | For the most part, these opportuni- | tles were overlooked by the same | speculatively minded buyers while the, stock market upturn was in pro- gress. Bond movements in bonds are | generally slow and speculators v t what they call “action” A month o two ago they found this quality in | ks, but not now » they are ‘taking yet in a small and tentative way | with the that although profits | may not be large, neither is the risk, and ideas of what is adequate prof have undergone considerable modif cation in recent weeks. Doubtl we shall have sdme such developmeiit in preferred sooner or later. These, too, are neglected at the heights of the hoom in the general stock market Low Marks in Foreign Bonds. The week in foreign been marked by new French issues. that this vear. Prices means gone dow they were at the time the first occupied the Ruhr. Th however, been a great deal of selling by those who were concerned the French financial crisis as reve in the dispatches tact that these b principal and interest 80, theoretically at to be responsive t exchange quotatic to_allay this concern. With the situation rapidly as it is, outcome would be foolhardy., T much, may be said. TI rench situ tion is unique. 1 ¥ it may prove disturbing to holders of other foreign securi cally it should | have no such effect ht. 1 not | investment | which ha as well sification Government up bonds a bonds low records i, new have not by any to the point where has for lows for in dollars least, ought fluctuations has not servi and | not | 10 the . CHICAGO CASH GRAIN. CHICAGO, none. | 2 vel. | white, none 5.00a Lard, April 4.—Wheat . 94a94 1 No No. 2 3 1. Rye Timothy seed seed, 19.50228.00. 50; bellies, 20.12 6.50. Clover 12; ribs, New York Stock and Bond Averages Saturday, April 4. STOCKS. Total stock sales, shares. Twenty industrials averaged 117.03; net gain, .98 High, 1925, 126.10; 1 Twenty railroads 97.95; net gain, .82. High, 1925, 104.68; low, 96.13. 535,000 w, 11431, averaged . BONDS. Total bond sales (par value), R first grade rails averaged ne.change. - secondary ralls averaged i met loss, .03 public utilities averaged i net loss, . industrials averaged net gain, .06. Combined average, change. Combined average month ago, 21.63; vear ago. SS. 91.38; no 100 17 82% £9% 9875 81 108% 1005 118% 56% French Govt 8s 1945. % German 7s 1949............. Holland-American s £ 65 1947 Japanese 4s 1931. . . Japanese 6% s 1954 ... : Jergens Utd Margarine 6s 1947 Lyons 65 1934. H Marseilles 65 1934 Netherlands 6s 19 Norway,8s 1940. . s Paris-Lyons-Med % Queensland 65 1947 Queensland 7s 1941... .. Rio de Janeiro 8s 1946 Sao Paulo, State of, §5 1936. Seine, Dept of, 7s. ... 4 Serbs Crotes Slovenes $8 1962 Sweden 65 1938 Swiss 5las 1946 ... 1151 United Kingdom 515 192! 1047 United Kingdom 55 1937 INDUSTRIAL 9i% Amer Agri Chemical 7hs 1941, 95% Amer Smelt & Ref 1st bs 1947 m. Smelt 1st 6s 1942, ... Amer Sugar Refining 65 1937... Amer Tel & Tel cl tr4s1929. .. Amer Tel & Tel cl tr 55 1946 Anaconda Copper 65 1953. ... ‘Anaconda Copper cv deb 7s '38. Armour & Co 4%8 1939. .. Atlantic Refining deb 5s 19 Bell Tel (Pa) ref 65 1948. . Bethlehem Steel p m 55 1936. Bethlehem Steel s f 65 1943. 5 1958, 844y 85 103% 1004 Cons Coal (Md) 1s réf 5s 1950 Cuba Cane Sug cv Aeb 8s 1930 Detroit Edison ret os 1940 Du Pont de Nem T1%s1931...... Empire Fuel & Gas 718 1937.. General Elcetric deb 55 1952 Goodrich (B F) 6%s 1947. Goodyear Tire 8s 1931. Goodyear Tire 8s1941..... Humble Oil & Ref 5%s 193 Indiana Steel 5s 195 Inter Mer Marine 6s 1941. Inter Paper 5s B 1947. . Kelly-Springfield 85 1931. Lackawanna Steel 53 1950 Liggett & Myers 68 1951. Magma Copper 73 1932... Manat! Sugar s f 7148 1942 Midvale Steel 55 1936. . . New England Tel bs 1952. New York Edison 1st 6%s 4 NYGasELH& P 531948 New York Tel 435 1939. New York Tel 65 1941. North American Edison 6s1952.. Pacific Gas & Elec 55 1942 Pacific Tel & Tel 6s 195! Philadelphia Co ref 6s 1944. . nclair Oil 78 1937.. kelly 6135 1927, ... South Porto Rico Sugar 7s 1941.. Union Bag & Faper 6s D. ed Drug 6s 1944...... U S Rubber 1st & ref 5s 1947. 4 U S Rubber 7%8 1930 U S Steel s f 55 1963. . Utah Power & Light 5s 1944 Va-Carolina Chem s f 75 1947..... Va-Carolina Chem 7345 '37 war. . ‘Western Union Tel 6345 1936. Wilson & Co 1st §s 1841. Wilson & Co cv 735 1931, RAILROAD. Atchison gen 5 1995... ... Atlantic Coast Line 13 s 1952, ; Balto & Ohlo gold 45 1943. . Balto & Ohio cv 435 1933, . Balto & Ohio ref 55 1995. . Balto & Ohlo 65 1929..... B&OPittsLE& W Va 4s 1941 B & O Southwn div 3%s 1925. Brooklyn-Manhat s £ 65 A 1968 Canadian Northern 63%s 1946. Canadian Pacific deb 4 Central Pacific 45 1943 Chesapcake & Ohlo cv 4% 5 1930. . Chesapeake & Ohlo gn 4125 1992 Chesapeake & Ohio cv 58 1946. Chicago & Alton 3%s5 1350 & Chi B & Quincy 1st ref 55 1971. Chl & Eastern Ill gen 6s 1951 Chi Great Western 45 1959. Chi M & St Paul cv 4% 5 1932 Chi M & St Paul gen 4%51989. Chi M & St Paul ref 435 2014 Chi M & St Paul cv 55 2014 Chi & Northwestern 6%s Chicago Railways 6s 1927 Chi R I & Pacific ref 4s 1934 Chi Union Station 4333 1964, Chi Union Station 6%s 1963. . Chi & Western Ind con 4s 195 CCC&StLref 65 A 1929 Clevcland Term 5%s 1972 Colorado & Southern 43%s Cuba RR581952.......... Delaware & Hudson 5%s 1937. Den & Rio Grande con 4s M36. D. & R. G. West Gs 1955...... Detroit United 4345 1932 Erie 1st con 45 1996 Erie gen llen 4s 1996. Erie cv 43 A 1953. Erie cv 4s D 1953. 2 Grand Trunk s f deb 65 1936 4 Grand Trunk 78 1940 : Great Northern gen 5% s 1952, ., Great Northern gen 7s 1936. . Hudson & Manhattan ref 5s 1957. Hudson & Manhattan adj 5s 1957 1ilinois Central 535 1934. Inter Rapid Transit 55 1966 s Inter Rapid Transit cv 7s 1932, Inter & Great Nor adj 6s 1952 Kan C F't Scott & M 45 1936. . Kansas City Southern 3s 1950. Kansas City Southern 65 1950. Lake Shore 45 1928........ Lake Shore 45 1931. 5 Louis & Nash unified 4s 194 Nash Lst ref § Mil Elec Ry & Lt 1st ref 55°61. MStP&SSM6%s1931... Mo Kan & Tex 1st 45 1990, Mo Kan & Tex ad) 55 1967 Mo Kan & Tex pr In 5s A 1962 Missouri Pacific gen 45 1975, Missouri Pacific 65 1949, . N O Tex-& Mex inc 55 1935. New York Cent deb 45 1934. . New York Cent ref imp 5s 201 New York Central deb 6s 1935. New Haven deb 4s 1957. .. NYNHG&H cvdeb 651943 4 N Y West & Boston 4%s 1946 Norfolk & Western con 4s 1396 Norfolk & Western cv 65 1929, orthedn Paclfic 35 1947. 84's Northern Pacific 45 1997 106%¢Northern Pacific ref imp 6; 963, Ore Short Line ref 48 1929 103% Ore Short Line gtd 5s 1946. 81% Ore-Wash 1st ref 4s 1961. 93 Pennsylvania gen 43%s 1965. . 101% Pennsylvania gen 5s 1968 109% Pennsylvania 6%s 1936. ... 32 Peorla & Eastern inc 46 1990 97% Pere Marquette 1st 53 1950 9415 Reading gen 4s 1997 71% Rlo Grande Western clt 45 1949, 847s RIATK &L 4325 1934.. 83% StLIM&SR &G 451933 71 StL &San Fran prln 4s A 1950 85% St L & San Fran pr In bs 1950 93% St L & San Fran 5%s B 1942, 84% St L & San Fran adj 68 1956 76% St L & San Fran Inc 6s 1960 591z Seaboard Air Line ref 4s 1959, 73 Seaboard Air Line adj'5s 1949. 84% Seaboard Air Line con 63 1945. . 96% Southern Pacific cv 4s 1929 84 Southern Pacific col 4s 1949 88% Southern Pacific ref 4s 1955 73% Southern Ry gen 45 1956. 100% Southern Ry 1st 5s 1934 106% Southern Ry dev 6%s 1956. 371% Third Ave adj 55 1960. .. 90% Union Pacific 1st 48 1947, $8% Union Pacific cv 4s 1927 95 Virginian Ry 1st 65 1962 100% Wabash 1st 5s 1939 62% Western Maryl: 1962. . 90% Western Pacific bs 1946. B1's West Shore 1st 43 2361 © 106% AND MISCELLANEOUS. Gy 97 1061 102 965, L1004 4 1015 90 94 106% 84% 101 108 107% 101% 104 104% 109 1204 101% 102% |'September reaching $1.01 | Special Disp ;Other High-Grade Issues Also Dis- show a material shrinkage and that there would also prove to be a nota- ble reduction in the amount of wheat on ocean passage to Europe. Selling Thought Too Heavy. Upward swings in price were due largely to a belief that heavy selling had been without regard to intrinsic values and had been greatly over- done. It was pointed out that wheat prices were down 33 per cent in 30 days, and oats 50 per cent. In some quarters the opinion was expressed that every kind of grain was on the bargain counter and htat if any grain could not be bought it would not do to sell it. Active buying in the final hour of wheat develop d and top figures of the day were reached just before the close. On the upward rush of prices the miximum gains were 5's cents for wheat and 4% for corn. Corn in particular attracted attention with a jump back again to above $1 a bushel, RISE LAID TO PATTEN. Famous Grain Trader Said to Be| Active on Buying Side. i to The Star. April 4—James A. Pat- ten succeeded to the bull leadership in grain today. It was his expression of opinfon that the recent selling had been overdone and that prices had been depressed below their real value that was largely responsible for the bull turn in the market. It is believed that he did not confine him- self to talk alone, but bought. . CHICAGO, LIBERTY BONDS GAIN. play Firmer Tone. NEW YORK, April 4—After a period of hesitation the bond market ended the week with a firmer tone, attributed partly to the easier money conditions which prevailed over the week end and the recuperative power shown by the French obligations. | ment and municipal bonds scored ir- | regular rec | to a sound Lasis. Despite the uncertainty over the French financial situation and the threats of a capital levy. the govern- | very in response to indi- serious uttempts were being made to restore French finances Today's gains aver- aged about a point for the three re- public issues, and the Seine 7s, Bor- and Paris-Lyon-Mediter- | cations that ranean s Trading In railroad liens was en livened by a spurt of more than 3 | points in Delaware and Hudson con- vertible 5s following announcement of the railroad’s plans to segregate its coal properties. Amoderate de- mand developed for other rail issues and popular oil. motor and sugan company bonds Relief over the easier tendency of money and the maintenance of the | Federal Reserve rediscount rate at 32 per cent was reflected in the tablishment of new 1925 top prices bp several Liberty bonds BALTIMORE PRODUCE. Special Dispateh to The Star. | BALTIMORE, Md. April 4.—Wirh | current receipts af native and nearby | eggs running more liberal and cold | storage operators refusing to take hold | at the high prices prevailing. some ac- | cumulations have been noted the past week, and the market ruies easier day at 283 and 29 cents a dozen for*| first in press cases. While the local de- mand for consumptive purposes con- tinues good, it is not equal to the sup- | ply and values no doubt will show a decline the coming week unless the cold storage men enter the market Duck and goose eggs have been in more liberal receipt' the past week. and with demand not quite so active the market | rules easy at 50 cents a dozen for the former and 95 cents to $1 for the latter. With the exception of ducks, the gen- eral live poultry market rules very firm, and active especially on Winter chickens and Springers, which are in light re- ceipt and wanted at full quotations Spring chickens, 1 to 1% pounds, meet with ready sale at 55 and 60 cents a pound, with no surplus in the daily arrivals, while Winter chickens, 2 pounds and under, clean up readily at 45 and 50 cents. Large, smooth young chickens in good demand at 35 to 39 cents; Leghorns, 30 to 32, and even Tough. poor stags bring 25 and 26 cents. Old hens have been in good demand the past week, but as the supply for the Jewish holidays has been pretty well filled, market trade is being depended upon to take up available supplies at the moment. | Market for turkeys continues firm | for the few late arrivals of hens, which find ready sales, but large young gobblers and old toms are not S0 desirable and rule easy. Receipts still running fair as the sanson draws to a close. Choice hen | turkeys will bring 35 to 40; voung gobblers, 30 to 35; old toms, 30, and poor and crooked breasts, 25. Choice fat ducks have been in fair receipt and with demand more easily satis- fied, the market rules easy a shade lower at 2§ to 30, and 23 and 24 for small and poor. Guinea fowl and | pigeons continue scarce and wanted, and the market holds firm at 90 and 1.00 each for young, and 50 each for old of the former and 50 a pair for both voung and old of the latter. Season for dressed poultry with the exceplion of capons, is pra tically over, and dressed stock will not bring any more than live, which is, 40 to 43 a pound for large young, 6 to 7 pounds and over: 36 to 40 for medium, and 33 to 35 for small slips. Receipts of white potatoes continue equal to the demand, which is only fair, and centered on No. 1 well graded stock at 1.00 to1.35 per 100 pounds, but Maryland and Virginia McCormicks will not bring over 1.10. No. 25 or ungraded potatoes hardly salable at any price. Sweet potatoes and yams are firmer under better demand and values show a slight in- crease at 4.40 to 5.50 a bafrel for the former and 5.00 to 5.50 a barrel for the ‘latter. No. 3 stock sells mostly 2.50 to 3.00, and culls are not wanted at any price. Native and nearby garden truck. being gradually forced off the market by early vegetables from the South, and prices rule in buvers' favor at the fol- lowing quotations: Cabbage, 16.00 to 18.00 a ton; horse radish, 3.00 to 3.50 a bushel; kale, 50 and 60 a bushel; onions, 3.00 to 3.25 per 100 pounds; oysterplants, 4.00 to 6.00 a hundred; parsnips, 30 to 35 basket; spinach, 50 and 60 bushel, and turnips, 50 and 75 basket. RATES ON BAR SILVER. NEW YORK. April 4.—Bar silver, §57s: Moxican dollars, 51%. Youngstown District Reports Bet- YOUNGSTOWN, provement in st ed & NEW YORK higl ext to ter Business. 1 buying in steel mill today. weeks steel Steel Co. operations, which April than extr: score), her ras 91 score) receipts. firsts, | Cheese—irregutar; | pounds. qui changed, wools, video 3s are offered as low as 46 cents, grease basis, a decline for the 45 NEW an is a decrease with last totaled CHICAGO STOCk MARKET. States Gypsum, 32. A ‘WooL MARKETV QUIET. BOSTON, raw April wool market etly and with except for South which have declines 4 (Spe closed in cents. bond, week of 5 Fours cents and _WEEKLY BANK REPORT. 4—The condition of clearing house banks and | trust companies for the week shows | YORK., April excess reserve of § of $310,9 week $23,591,030, . April 4 —Cud: st Uttlities, 91; & Union Carbide, 5: Wahl, Be Ohio, April 4.—Im- schedules district for next week, according to| ¢ announcements time in many will be increased, with Republic Iron putting another hearth furnace Into operation ators . believed present 75 to 85 per cent for weeks to come, NEW YORK DAIRY PRICES. 4. —Butter—Un- settled; receipts, 9,092 tubs; creamer:; For the fi demand will seconds receipts. prices mostly to 43 cents when excess 1 66; Leaky prices showing a re: eney. mostly for small lots, and eaxy owing to foreign com Copper Still Unwet pper unsettled. is reflect- of this 133 produet a sharp upturn in open- Oper- support from failed to ‘broaden material while London improvement with sellers level at the have shown around | are holdin; their more i ered Tin co face of favc ing to e Cons inside pr was barely veported at th end of the we a little but buye are diate ers modera bought 144, s, but the health the _ 1 and eased a little, generally regarded a cial).—The | ent prices preclude the week un- American d. Monte- weakened early cers reduced offerings a developed. Demand was im: Antimony held steady ir light trade, mainly on bu are around | from Chir . Assacinted I're NEW YORK. April 4 changes firn; quotations at Britain, demand 81z, Sixty bitls on France, demand, Ttaly, demand, 4.1 | Belgium, demand .80, Hollay weden lang, 198.24 « Poland, .18%: Czechoslova Jugos . 1611, ; Austria mani Argentina 10.80: Tokio, 41%:; Shanghai treal tual | 0.060. This compared serve ahy, 100 wift & Co., United Fair, 16% Mende tionary Pig iron was quiet, with demand prices were | d off again able monthly statist siness abroad and 47815 banks, mand, while tend- petition tled. After selling off to cents, prices stiffened up on rather London, and business was reported at advance t0 3% cent from the lowest some of 1 Demand Iy, however, maint e ek mor ers d are believed to ha needs well d ity downward trend in 5, Ow- in copper. tely f Review of Other Metnls. Lead sympathized with other i ar situation is iy, and pres- tkelihood importations of Mexican ore. but wh bett. oder: | face illish pro- r tone of a cables FOR_EIGN EXCHAEGE. 1) sreece kia 001434 Stop that Roof Leak the minute you find it A steady rainstorm—a telltale spot on your ceiling—a leak in your roof ! You try to get someone to fix it right away. Itcan’tbe done. Inthe mean- time the spot on your ceiling spreads like ink on blotting paper. F the rain keeps u p, you are in for the expense of plaster patching or repapering—perhaps both. Is there anything you can do to speed up the repairing? Thereis . . . Now, thanks to a wonderful composi- tion called Stormtight, you can stop a leak before it has done any real damage. All you have to do is spread Stormtight o ver the spots where leaks have developed. Stormtight seals them tightly and makes them impervious to the weather for years. Stormtight is just as efficient for leakproofing an entire roof surface as it is for stopping one leak. If your roof is old and has.secn its best days, don’t go to the trouble and expense of re- placing that roof. Just cover it with a coat of Stormtight and you will have a tight, new sur- face at a very low cost. the holes and cracks as th Stormtight searches out ough you poured molten lead over the old roof. When the thick, adhesive liquid sets, it forms a one-piece continuous coating. This coating is tough and rubberlike. It will not erack; it will not rot. It expands and contracts with the surface underneath. It enables you to forget your roofing troubles and to postpone the need for reroofing for many, many years. A single application lasts a long time—how long, we do not know. We have some roofs here in Belleville that were coated with Storm tight in 1915 and so far not a drop of rain has leaked through. Of course, like many other jobs, the more carefully you put Stormtight on, the longer it will ordinary care it will last for years and years. It will go right on, season after season, keeping your roof free from leaks and your mail free from repair bills. Not only can Storm- tight be put on in any weather, and put on any kind of roof, but it can be put on by anybody. It takes no more skill than sweep- - ing a floor. Youdon’t haye to mix anything, thin anything, or heat anything. You simply take the coveroff, stir thor- last. But even with Stir fe. Just a fow minutes’ stirring and 7 Stormtight is ready for use.. Any old stick will do. Pour It. Stormtight the reof. tpill out about a quart and you're ready for the third and final operation. Spread ft. Tom Sawyer could have s0ld the priviles Brushing Stormtight ou over the roof Is, as mat- tor of fact, even lass diffi- cult than whitewashing a fonce. After you have done this, you'rs finished and 50 are the leaks. oughly, pour some on the roof and spread it with a stiff-bristled broad brush. Then you are finished—and 80 are the Jeaks. Is the sun shining? Is the rain and the | cables | 000 1 BALTIMORE LIVE STOCK. B cial ket | con man mox Wh mos ow even at sharp dlsce Lto s [qua $ t cho vea medium, mon chol 1 to & H S 10 pigs, CHICAGO, extr seco this the annual report shows. e $T : e in Government honds in other rities, $ in call and time loans and $9,9 in cash conti ALTIMORE, Md, )—The gmneral rules easy April live cattle i% to be expected | of the year will tinue et all next wee De 1 easily satisfled, red rely on toy 1o ordina he lowe eipts under son and and ee W s10¢ « attle slow values tinue grad arf tly qn light which m unts. Quota s today at Light Street Wharf «f cattle, first quality pound 10; medium, 5 to 8; bulls lity, 3 to 5; cows, ch to ) 6; common 3 typ quality ice to fdncy, head mon to fair, 30.00 to 1, choice, pound 10 to 11: roug n. 7 to 9; small culls ep, choice, to 7: old backs common, to 4 t 16 to fair common to ize and qua 15 1o ogs. stra 10 stags 14 shoa to fair 4 to 6 ordina and thin ity BUTTER PRICES LOWER April 4 —Butter—Lowe mery extras, 40 ndards. 403. a firsts 9 n Huminate tric bulb. It is to the chem- ist that we owe the great preser- vative ‘power of Stormtight, which protects your -roof from the weather ‘mamy years long- er than paint. d W s |ARSENAL IN SHANGHAI TO MAKE AUTOMOBILES Welcomes Cc From War to Peace Roof Can Now ARy It was still raining, but he fixed the roof. A few minutes after the leak developed. this enter- prising home owner had it stopped. One of the «_ thedamageis \ d‘one. will be disastrous. Storm- tight sticks fast even to a wet roof. It spreads easily on a cold one. On days when the mercury flirts with zero you can break the ice from your roof and proceed to make it leak- proof. The cost of Stormtight is really very little. The average roof contains from five to ten squares (a square is 100 A beautiful protective stain for wood shingles You can get a beautifal stain for your shingle roof by mixing one gallon of raw linseed oil and one gallon of Stormtight. Ap- ply it like paint. Storm- tight Shingle Stain pene- trates the shingle and leaves a protective film over the surface of the roof. Better than repaihting A coat of Stormtight is ten times thicker than a coat of paint. It comes in beautiful colors that become even more beau- tiful with age. A single coating gives you protec- tion from leaks for years and years. good ware, some of the readers of this adver- tisement will get it. They will act on what they have read. They will take advantage of the opportunity which Science has given them. The will make their roofs leakproof th week. Free Offer— square feet). Two to three dollars’ worth of Stormtight square, so your roof can probably be made leakproof at a cost of from ten to twenty-five dollars. leak can sometimes be fired for as little as twenty-five cents, by the use of a pound of Stormtight Plastic, Stormtight is sold in one and five- gallon drums. covers a A small cans and in 64-gallon You can get it at many stores that sell paint, hard- or builders’ supplies, and Will you be one of them? SEND IN THE COUPON L. Sonneborn Soms, Dept. 2.DX 114 'Fifth Avenue. aets on a roof. coming down? Is the snow falling? Never mind; you can apply Storm- tight just the same. It can begin its job in any sort of weather. It can begin preventing leaks during the very season or even on the very day_when you realize that leaks Ine, New York Please send me free of charge a sample can of Storm- tight 56 T may judge how the material lnoks and