Evening Star Newspaper, April 20, 1925, Page 22

v/ RIGES CONFUSED IN'STOCK MARKET St. Paul and C. & 0. Shares Are Extra Weak—Motors Lead by Pierce-Arrow. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 20—Outside ot & half dozen or so special. issues the market today weakened from the start and in the course of the session developed some rather heavy selling tn _individual stocks. Railway shares wer® upset by fur- ther heavy selling at new low record prices in the St. Paul stocks and by the violent fall in Chicago and Alton. The St. Pauls were simply adjustin, themselves to the prospect of a heav assessment. They were following the usual course of stocks of companies in receiver’s hands, which are held up temporarily by the buying power supplied by the short interest, but which finally breaks through. Heavy Selling in C. & A. Selling of Chicago and Alton brought out reports that a hitch had occurred in the reorganization plan and that this would work out less favorably for present holders than had been hoped for. This explanation, however, had not been substantiated up to the close of business. The four-point break in Interna- tional Combustion Engineering fol- lowed the news that at the annual meeting an increase in the stock issue FINANCIAL. THE EVENING STAR, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Ahumada Lead.. 11 11 Ad Rumley pf (3; 53 68 Alr Reduct (4).. 104 104% Ajax Rubber.... 13} 18% Allled Chem (4). 861 86% Allls Chalm (6). 79% 9% Aille Chim pf (7) 106% 106% Am Agricul Chm 204 20% AmAg Chmpt.. 49% 49% Am Beet Spf (6) 82% 82% AmBeetSug (1) 40 40 Am Bosch. 83% 83% Am Can (17).... 174% 176% AmCar & F (12) 208 208 AmChicle...... “60% 61% Am Chiclectfs.. 57% b8 Am Drug (60c). 5% 6% Am Express (6). 140 140 Am& For Pow.. 28% 28% Am& FrPpf (7) g8y 88% AmHide & Lea.. 10 10 AmHide & Lptf. 654 65% Am Ice (7) 93 98 Am Internatl.... 85% 86 Am La Fran (1). 12% 18 Am Linseed. 20 24% AmLinsdpf3%%. 67% 68% Am Loco (118).. 125% 126% Am Metal (3). 46% 46% Am Radiator (4) 95 95 Am Safty Rz (8) G54% b54% AmShip & Com. 11 11% AmSm & Ref (6) 94% 94% Am St Fdys (8). 50 50 Am St1 Fypr (7). 111 111 Am Sugar . 65 65% Am Sugarpt (7) 99% 99% Am Sumatra.,.. 13% 14% Am T & Tel (3).. 186% 186% Am Tobacco (7). 89% 93 Am Tobac B (7). 89% 91% Am Tobac pf (6) 105% 106% Am WW&Z]30c. 46% 46% AmW W pf (6). 101% 101% Am Woolen. . 40 40 Am Wool pt (7). 80 80 Am Writ Pappf. 4 4 Anaconda (3)... 86% 86% Low. Close. 10% 10% 53 63 108 103% 18% 18% 86% 864 8% 70 106% 103k 184 184 4T 4T% 82% 82% 39 39 81% 82% 173% 173% 199 200 60% 61% 57 - 58 5% 0% 140 140 28% 28% 88% 884% 10 10 65% 98 85 12% 24% 67% 124 464% 94 54% 11 93% 50 111 61% 98 13% 186% 89% 894 105% 46 101% 39% .80 4 86% had been authorized from 450,000 to 750,000 shares. Sugar Shares Weak. Weakness in the raw sugar market was reflected in _further selling of American Sugar, Cuba Cane preferred and other members of the group. The coppers, also because of unpropitious trade conditions, were dragging down- ward—Angconda and Kennecott prin- cipally. Pierce Arrow preferred, which a week ago was selling at 47%, jumped Yo 60, the common stock participating more moderately in the This led to a revival of reports taat con- trol of the company was being sought. These stories were neither corrobo- rated nor denied. Maxwell “B” Breaks Badly. Maxwell “B” Motors broke badly. Those in close touch with the stock said the decline was nothing more than than a natural reaction after last week’s 23-point advance, and were executing buying orders around the low levels. Tobacco shares were strong, while others were going down, and here again it was demonstrated that stocks of companies which are doing well in their particular lines are capa- ble of standing up against the selling of stock representing trades which are not prospering the way that had been hoped for. and Pierce-Arrow Are Late Features. By the Associated Press. NEW YORK, April 20.—Stock prices displayed a reactionary tome in to- day's market. Fresh weakness crop- ped out in the St. Paul and Chicago and Alton issues, which broke to new low prices, while the standard indus- trials yielded to a resumption of short selling and profit taking. Total sales approximated 1,200,000 shares. The closing was heavy. The gen- eral list continued under pressure in the late trading, although independent strength was shown by a few stocks, notably Maxwell Motors A and Plerce- Arrow prior preferred, which attained new peak prices at 111 and 99, re- spectively. Markets at a Glance NEW YORK.—Stocks heavy: St. Paul issues at new record lows. Bonds irregular, Western rail liens react. Forelgn = exchanges easy ; Dasish kroner drop 13 points. Cotton higher, b1% 97% 20% 185% 97 38 121% 95% 165 86 41 12 24 W% Ann Arbor pf. . 51% b61% Arch-Dan pt (7). 97% 97% Armour 1 A(2). 20% 20% As80 Dry G (6).. 185% 185% Asso DG 1st (6). 97 97 As0 Oil (134)... 33 83 AtT & SFe (7). 121% 121% AT&SFpf (5). 96 96 Atlantic CL (7). 166% 168% AtGulf& WI... 36% 36% At Gulf & WIpt. 41 41 Atlas Tack. . 12 12 Austin-Nichols.. 24 24 Auto Sales W% 4% Baldwin L (7)... 117 117 Bald Loco pf (7). 110% 110% Eal & Ohlo (5).. 76% 175% Bal&Oh pf (4). 63 63 Eang & Ar (3).. 41 41% Earnsdall A 224 224 Bayuk Clgar. 41% 41% Beech Nut (2.40) 674 67% Bethlehem Steel 41% 41% Eeth St1pf (7).. 94% 96 Beth Stl pf (8).. 111 111 Briggs Mfg(3%) 87% 38 British Empire.. 1% 1% Bkl-Man T pf (6 76% 76% BKklUnlon G (4). 81% 824 Bruns-Balk(30c) 884 88l Burns Bro (10).. 99% 99% Burns BrB (2).. 19% 19% Bur AddMa (3). 80 80 Bush Term (5).. 109% 109% Eutte Cop (50c). 6% 5% Butte & Su(50c). 11% 11% Cal Packing(6). 104% 105 Cal Pete (1%)... 29% 29% Calif Pet pf (7).. 112 112 Callahan Zine. 8 3 Calu & Ariz (2).. 46 46% Calumet & H 50c _18% 18% Can Pacific (10). 143% 143% Case Threshing. 27h 27% Case Thresh pf.. 68 69 Cent Leather.... 16% 16% Cent Leather pf. b5% b55% Century Rib (2). 39 42 Cernd Pasco (4) 45% 46% Certain-Teed... 45l 45% Certain-T 1st (7) 93% 98% Chand Mot (3)... B36% 86% 36% Ches & Ohlo (4). 91 81 81 Ches &0 pf(6%). 106 106 ; 106 Chi & Alton. . 8 8 [ Chi & Alton pf.. 124 124 8% Chi& Estlll pf.. 44% 44% 44 ChiGreat West. 11 11% 10% ChiGr West pf.. 24% 241 23 Chi M1l & St P. 4% 4% 3K ChiMil&SPpf. 9 9 7 Chi & Nwn (4).. 49% d9% 48k ChiPneuT (5).. 864 864 86 ChiRI1&Pac... 45% 45% 44% CRI&PDf(6). 85% 85% 86% ChiStPM&O.. 83% 83% 834 Childs (12.40)... bB3% b3% b2% Chile Cop (2%). 32 82 8la Chino Copper... 20 20 19% Cluett Peab (5). 634 63% 63 98% 100% 101 Coca-Cola (7) 98 Colo Fuel & Iron 88% 84 41% 67 a1% 944 110% 8T% 1% 6% 81% 884% 994 19% 79% 109 % 11% 104% 28% 12 3 45% 18% 143 27% 68 16% biw 39 45% 45 934 Coca-Cola pf (7). 101 101 83% Int Ry Cent Am. Int Shoe (5).... Int Tel & Tel (6) Jewel Tea... Jones Bros T Kansas & Gulf. . Kan City South. Kan C So pf (4). Kayser (Julius). Kelly-Spring. Kelsey Whi (6). Kennecott (3).. Keystone T & R. Kresge Dep Str. Lee Rub & Tire. Lehigh Val (314) Liggett & M(14). Lig & My B (14). Lima Loco (4) . Loews Inc (2)... Loft. Long . Lorrillard (3). Loulsiana OIl. Ludlum (2).. Mack Trcks (6). Mack Trk 2d (7) Macy pf (7). Magma Copper.. Man EI Sup (4).. Mallinson & Co.. Mantla Electric. Maracaibo OIl. Market Street. . Market St 2d pf. Marland Oil. Mar-Rock (25¢) . Martin-Pry (4). Mathieson Alka. Maxwell Mot A.. Maxwell Mot B. . Metro G pf (1.8 Mexican Seabd. . Miami Cop (1). Middle States. Mid-Continent Minn & St Lout Mis Kan & Tex ME&TDpf (5).. Missouri Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 750 Motor Wh1(75c). Maullins Body. .. Murray (2.40) Nash Mot (111) at Dalry (3). at Dpt Stores. Nat Distillers pf. Nat Lead (8).... at Lead pf (7). at Ry Mex 2d. . evada Copper. Nwpt U Gas (5). Nt N G&E pt (1) N O Tex & M (T) N Y Canners (2). N Y Central (7). YC&SIL pf (6). Y NH & Hart Y State Rys. .. orf & West (7) orth Am (3.40) orth Am pf (3) North Pac (5)... Otis Elevator (6; Otis Steel. . Owens Bot (3). Pacific Gas (8).. Pacific Mail. ... Pacific Oil (2).. Packard (11%). Packard pf (7).. Pan-Amer (6).. Pan-Amer B (6) Park & Tilford. Penick Pennsy RR (3). Penn Seab Steel Peoples Gas (8). Phla Co (4)..... Phila& RC &I. Phillip Morris. . Phillips Pet (2). Plerce-ArTow.. Plerce-Arrow pt Plerce-A prior § Plerce Oll...... Pierce Petrol. .. Pitts Coal...... Pitts & West Va. Postum-Cer (4) Press Steel Car. Prod & Refiners Pub Ser NJ (5). Public Serv rts. Pullman Co (8). Punta Al Su (5). Pure Ol (1%).. Radio Corp of A. Radio C pf (3%) Int Pap pfst (6). Jewel Te pf (7). Jordan Mot (3).. Kelly-Spring pf. Kinney GR (1).. Open. High. 3 19 73 19 Low. Close. 73 19 73 19 121% 121% 121% 121% 89% 19 107% 17% . 49% % 843 57% 22% 1% 51 90 4% 2% 20 19 107% 17% 60% 8% 19 107% 16% 49 % 3a% ET% 224 16% 51 90 47% 2% 73 82 14 77 148% 1024 6% 38 63% 90 19 107% 16% 49 a 84% 58 22% 17% bl 90 7% 24 78 32% 14 7% 60 59% 6414 WASHINGTO D. C., MONDAY, APRIL 20, 1925. MOVES ARE MXED | == o BONDS o] Recelved by Private Wire Direct to The Star Office. Rails Sold Rather Show Strength. Special Dispatch to The Star. NEW YORK, April 20.—In: bonds held week, with great irregularity. was broke two points at one tin in the stock. Alton 3s were down a point, it Is genera turbed. Buying in been active of late on two one that the merger were pending. Greenbay and Income Debenture B's was recent speculative favorite und, consolidation Against these declines ma the steadiness in all the bonds, particularly the consol and the strength International Great ments were also firm. New ¥ al d and then r privilege expires on April 30. ¥ ht-grade savings gages were all firm first 4s made a new high vear, equaling the high of 19: ness was restricted by the offerings, the banks as a rule to take small lots and not being available. French Bonds Pierce Arrow 8s were in connection with stock. Bonds of the Sugar y anies were heavy. held their at recovery. cted. The Rock Shipments. | The proposal made by the Air Line February carload rate phosphate ro from Fle producing acksonville Interst ted. w Commerce Comm| j the increases were { points {to m initel. and the railroad was to 15 or 20 per cent. GREATLY NEED Excellent. Special Dispatch to The Star. BALTIMORE, April standing feature of is the almost universal need according to reports receivership shortly be lifted and the other that developments of importance made IN BOND MARKET Freely, While Some Other Issues BY GEORGE T. HUGHES. vestment firm at the start of the but speculative issues moved The feature in the last named group Chicago & Alton 3s, which ne. The decline being simultaneous with that Even the Chicago & although admitted that in reor- ganization this issue will be undis- both these issues has theories, would Western another to lose dropping back a full point. Here, too, there has been talk of & Seaboard Issues Steady. be set Seaboard idated 68, in St. Louis-San Francisco incomes and adjustments. Northern adjust- York Cen- enture 6s went up a half point conversion bank _mort- 1d Union Pacific for the 24. Busi- lack of refusing large blocks Hold Gains. very the advance strong in producing French bonds recent gains and French 102 were at a new high on this | ADVANCES IN RATES | REFUSED BY I. 'iSeaboard Air Line Wanted to | Boost Charges on Phosphate | | i C.C. S 5 to incr ock mov- points to s held today by the The protest of the Florida Railroad Commission, the Jacksonville fic Bureau and producers against sustained at all required ntain the present rate indef- The increases would have amounted \FARMS IN MARYLAND RAIN | | Early Planting Well Along and Outlook Reported as 20.—The out- ‘ming conditions for rain, to the UNITED STATES BONDS. (Bales are in $1,000.) Bales. High. Low. 2:50. 12 101 12 101 10 101 10 7102 101 80 101 30 . 247 10110 1016 1019 . 111 10129 10126 101 27% . 211 1028 1025 1026 US4s1944. 138 1019 1015 1017 US4%s'53. 82 10514 1058 10510 FOREIGN. High. 82 96% 96%% 102% 94% 99% 85% Lib 3%s Low. 82 Argentine bs 96% Argentine 65 A. Argentine 6s B. Argentine 7s. Austria 7 Bank of Japan 6s. Belgium s Belgium 638 wi. ., Belgium 7%s..... Belgium 8s Holivia gs. Bordeaux 6; PBrazil 7s. . firazil 8s. | Canada 531926 Canada 581931, ::mlgn 581952, ... anada 5145 1929. . Chile s 1043 . Chile 85 1926 Chile 85 1946 2 Christiania 6s ... Christiania 8 Con Pow Japan Copenhagen 63 Cuba 5%s Czecho 85 1951. ... Czecho 85 1952 bt. . Danish Munic 8s A Danish Munic 8s B Danmark 6s Denmark 8 - D EI5%s Mch '63. Dutch East I 6547 Dutch East I 6s'62 Finland s £ 68'45.., Finlands 7e Framerican 7%s. . rench Ts French 734s. French 8s. German 7s.. Ger Gen Elec 7 Greek Ts. Haltigs. .. Holland-Amer 6 Hungary 64s. Japanese 48 Japanese 614 ] Jergens U M 6347 124 Lyons 6: s Marseills 13 Mexico 4s°10 asntd 6 Montevideo 7s. 1 Netherlands 6 '64. 19 Norway 6s 1943... 12 Norway 6s 1944. 9 Norway 6§1962... 20 Norway 8s.. 13 Orfent Dovdeb 6s. 2 Paris-Ly's-Med 6s. 6 Paris-Ly's-Med 7s. 43 Paris Orleans 79 Peru 8s. Poland 6s 2 Poland 85 '50 wi. Prague 7% Queensland 7s. ... Rio de Jan 8s 1948. Rio de Jan 88 1947 Rlio Gr Do Sul §s. . a0 Paulo City 8s. Sao Paulo State S Paulo St 85 wi.. Sefne Dept cf 7 Serbs Crot Slo 8a. . Solssons 6s. .. Sweden 5%s ct. Sweden 6s. ... Swiss 5% 5 1946. Swiss Confed 8s... Ud Kingm 5%s "2 Ud Kingm %8 '37 Ud Steam Copen 65 3 Uruguay 8s [ Zurich 8s. E 20 Rauw ossnacnaataawmane 8355 832 103% 101% 118% 1164 106% 928, 109% 110 MISCELLANEOUS. Ajax Rubber 8i S 9 Am AgrChembs.. 6 101 Am Agr Chem 7%s 20 99% Am Chain sf 65°33. 11 074 AmSmlt & R 1st 6e 21 9T AmSmlt &R 6s... 2 106% AmSugref6s..... 5 1034 AmT&Tcltrds.. T $T4h AmT & Tel trbs.. 11 1014 AmT&Tsf5s... 141 95% AmT & Tdeb5%s. 48 102% AmT& Tcy 6s.... 7 129% Am Water Wks 6s. 7 864 Am Writ Paper6s. 2 50 Anaconda 1st 6s... 36 100 Anaconda cv db 7s. 22 100% Andes 7s Zo% od. .. 94% Armour & Co 434s. B6% Armour Del 53%s Atlantic Refin 6s... Bell Tel Pa 5s. 98% 101 Low. 107% 84% 2:50. 107% 8415 100 9% Sales. High. Westinghouse 7s . 8 107% Wickwire Spen 7s. 1 84% Willys-Ov 6%s'33. 20 100% Wilson & Co st 6s. 39 98 Wilson & Cocv 6s. 12 72 Wilson&Cov 7%s. 1 71% Youngstn S8&T 6s.. 9 98% RAILROADS. Ann Arbor 4s. Atchison gen 4 Atlantic C L 1s Atlantic C Ll 4 AtlanticC L 7s Canad Pac deb 4s.. Car Clinch & O 5s. ar Clinch & O 6s. Cent of Ga 6s. . Central Pacific 4 Ches & Ocv 4%s. Ches & O gn 4%s.. Ches & O cv 5 Chi & Alton 2 Chi & Alton 3 Chi & Alt 3%s ctft. Chi B&Q gn 48 '58. Chi B&Q 1st rf 5s. CB&Q-Ill 3%s... Chi&ETIgnbs.... Chi GreatWest . CM& Puget Sd 4s. CM&StP4s’25. 135 CM&StPdb4s... 1 CM&StP gn 43 '89. 4 CM&StPeov4lks. 60 CM&StPre4ts. 21 CME&StPevbs... 35 CM&StP6s 15 C&NWgends... 15 Chl & N W ref 5s. 22 Chi & N'W 78 Chi Rys bs.... . ChiRT& P gn 4s. . ChiRI&Prf 4s.. Chi TH&SEbs Chi Un Sta 4%s. Chi Un Sta 58 Chi & W Ind cn 4s. C&WIG5%s’62... CCC & StLBs..... Cleve Term bs. . Cleve Term 5%s Colo & Sou 4% Cuba RR 7%s.. Del Hud cv 65 35..21 Del & Hnd 5%s. Den & Rio G cn 4s. D & Rlo G imp §s. . D & Rio G Wst 5 Des M & Ft D 4s Erle 1st cons 4 rie gen 4s rie conv 4 irie conv 48 B. Erie conv 4s D Erie con ext 78... . Erle Genessee R 6s Erie & Jersey 6s. . Erie (Pa) cit tr 4s. Gr Trunk sf db 6s. Grand Trunk 7s. Gr North §%s Gr North gen 7 . Green B& W db B. Havana ERL&P 654 Hud & Man ref 5s. Hud & Man aj 6s.. 11l Central ref 4s 111 C-C 8t L&NO Int Rap Tran 5s... Int Rap Tr 5s =tpd. Int Rep Tran 6s. Int Rap Tran 7s. 8% 79 92% 102} 7% 97% a8 100 105% 94% 1044 108 101% 82% 98 56% 45% 1% €3 €5 64% 72% 108 103% 106% 95% 107% 116% 100% 1087 141 8613 £8% 2% 92% 99% 63 61% 6644 864 104 684 20 5974 Y% 89% 86 o6% PITTY-CATErS [CTSTET PSSO JUOS - PUOPS - ) o a= lowa Cent rf 4s Iowa Cent 1st 53 Kan City Ft S 4s Kansas City S 5s.. Kan Cy Term 4s... Lake Shore 45 '31. . Lehigh Val 63 2003 Louis & N uni 4s.. Louis & Nash 7s. .. Manhat Wy cn 4s.. Market St Ry Ti M & St L 1st rf 4 M StP & SSMcn 4s. M StP & SSM cn bs. M StP & SSM 6%s. MK & T 1st 4 MK&T4sB MK & T adj 58 MK & T prlnb: Mo Pactfic gea 4s.. Mo Pac 5s 1926 Mo Pacific 58 '63 Mo Pacific 6 e Montrl Tm 1st 5s.. 4 Nassau E Ry 45 '67 i2, NOTex&Mb5sB.. 26 95% 8214 754 g% 92% 5% | 104% | FINANCIAL. WHEAT DEPRESSED AS WEEK BEGINS Sharp Setback in Liverpool Causes Downturn in Prices in Chicago. By the Associated Press. CHICAGO, April 20.—Wheat prices here took a decided early downward swing today, influenced by a sharp setback in quotations at Liverpool. Reports of large tenders on contracts for May delivery at Liverpool were current, and for a brief interval the May delivery here showed an extreme drop of 5 cents a bushel. New crop months were depressed owing to sym- pathy with May, but received better support from buyers. Chicago open- ing figures, % to 21; lower; May, 1.45 to 1.45%, and July, 1.37% to 1.38, were followed by an irregular_descent to 1.42% for May, and 1.35% for July, but then by a rally to 1.44% Muy, and 1.361 July. Corn and oats were relatively firm. Decreasing stoeks of corn were pre- dicted, and smallness of probable ex- ports from Argentina continued to at- tract notice. After opening unchanged to % higher, July, 1.10% to 111%, the corn market scored moderate general gains, but then eased down with wheat. Oats started unchanged to % off, July, 423% to 42%, rallied a little and then receded to slightly below Satur- day finish. Provisions were weak as a result of a material decline in the value of hogs. Open. High. Low. 145 1.51% 1423 1 141 ;.‘ 1.35% 341 1205 i innia obo 8353 £ FER September RYE May . TR September P OEER R > oo 323 Son pres S8& 1660 COTTON QUOTATIONS OPEN WEEK STRONG Continuation of Buying Move Noted on Dry Weather and Good Cables. &5 555 Goo Listo i By the Associated Pre: NEW YORK. April 20.—Continua- tion of last week’'s buyving movement led to a further advance of 11 to 13 points at the opening of the cotton | market today, promoted by failure of | | the weather news to show rain in the Southwest overSunday and relatively steady Liverpool cables. Japanese and | { continental trade interests were cred- ited with buying, but the bulk of the demand again was attributed to cov- ering by local, Wall Street and South- ern shorts. July sold up to 25.25 and October to 25.15 before the end of the first| hour, net advances of 25 to 27 points, | but at these figures realizing checked the advance and caused little irreg- ularity. New Orleans Quotations. NEW ORLEANS; April 20.—The cotton market, although opening | slightly higher, made a poor response |to the higher cables than due. First trades showed gains of 7 to 11 points, {but eased off a few points during the | call, only to rally a little sharply on {the 'dry weather map, July trading up to 25.31 and October to 24.82, or 22 to! 23 points above the previous close. | GB;AI_!Ww AN'D PROfiSION S. | BALTIMORE, April 20. (Special) Potatoes, per 100 pounds, 1.00a1.35.| Sweet potatoes, barrel, 2.50a6.00. | Yams, barrel, 4.50a5.50. Asparagus {only within the city where | particularly, DETAILS QUTLINED ONBANK STATUTES Commerce Members May Urge Change in National Bank Act of 1863. BY CHAS. P. SHAEFFER. / Four proposals lookin, i- tional powers for nationsl banks were submitted today to a referendum vote of the business organizations making b the membership of the Chamber of ommerce of the United States. The recommendations, formulated by a Speclal committee of the national body, are as follows: mxthe:; @ national bank should be per- Trolicd. under regulation of the con- branehed s he currency, to have blfl(c]:u!:nhm its own city if a State o ha_;g branrh::me city s permitted to at national banks should be given fadeterminate charters, subject tgitor- eiture for cause and termination at the will of Congress. thapat national banks should be au- ‘“orued to deal in investment secur- thed on a basis not inconsistent with e generally recognized principles of sound lbankmz practice, at national banks sh u- :'):(r;n?egl to make mnr'za:o:lldoz‘:xes ‘on eal estate for - o S te Zor periods not in ex e result of this nation-wide = endum, which will be mm’lxufii 1;2&:5 L days, will determine the chamber's at- ttude on questions which have had much consideration from bankers and in Congress. . Think Act Out of Date. The committee makin the come mendations points out that “it is & widely held view that the national bank act of 1863, which provided for the organization of the national bank- ing system, is in need of revision in order to clarify and modernize it, and to bring it fully into alignment with the Federal Reserve act." X 4D, this connection, the eclares that ‘“‘the ha ), assoclations of the co o creasing number are being attracted to organization and operation under State charters because of the relative {lliberality fn a number of important particulars of the national banking laws. This defection from the na- ' tlonal banking system, as well as its decreased attractiveness new bank: is resulting jn a lowering of {its tige, a retardation of its growth and, by comparison with State banks as a whole, a relative decrease in its strength. At the same time it i§ working an appreciable change in the structure of the Federal Reserve Sys- tem.” In recommending that Congress should enact legisiation permitting national banks to establish and oper- rate Intercity branches in States where State law allows ate banks to have branches, the committee explains that in ates branches may be operated b State banks. In some of them branches are permitted not 4 he parent but thre ghout the elf. In those States is stated, na al banks feel the competition sults from this difference, ar has been a marked tender from the national system States. Three Other Proposals. Another recommendation the committee as set out in the referen- dum is that intetermi c should be granted to national Originally nat: tered for 20-ye was change that date or from tion, r 4 \ 13 com al ittee bank is located, county or State it it in t he date o might organiza- be later. Be- arter period, banks T from I called perpet ‘ this practical situation t recom- / mendation is made that should be granted determinate charters, present to forfeiture for rause and termination will of Congress. A third »mmendation of committee is “that national banks 1 should be empowered to deal in in- Colo Southern... 64% 64% ColG & B (2.60). 56% 56% Col G & E pf (7). 106% 106% Col Carbon (4).. 47% 47% Com Solv A (4)..134 134 Com Solv B..... 1380% 180% Congol-Nrn (3). 29% 80% Consol Cigar. a28% 29 Con Distributrs 6% 17 Consol Gas (5).. 77% 78 ' Consol Textile.. 3% 8% ContCan (4).... €8% 63% Cont Mot (80c).. 94 9% Corn Prod (2) 89% 39% Crex Carpet (3). 40 454 Crucible Sti (4). 69 69 Cub Am Sug (3). 29% 29% Cuban Cane Sug. 12% 124 Cub Cane Supf.. 55% 55% Cuba Dominican 4% 4% Cushmans (3)... 63% 64 Cuyamel Fr (4). b4 B4 Cuyamel Frrts. 1- 1% Danlel Boon 2 24 Davison Chem.. 82% 33% Del & Hud (9)... 152 163% Del L&Wn (17). 131% 132 Detroit Ed (8).. 1164 116% Dodgs Bro pf wi. 100 100 Dome Mines (2). 13% 13% Doug Pectin (1). 16% 16% Dupoat (10)..... 148% 148% Eastman (18) 109 109 Eaton Axle 16% 15% Elec Pow w i.... 101 4 101% Elec Str Bat (4) 63% 63% 56% 1056% 47% 129 128% 29% 284 6% 6% 3% 63% 9 38% 40 67% 29 1% 63% 4% 63l 8% . % Raltimore office of the United States Crop and Live Stock Reporting Serv- ice. Only one or two counties of Maryland have had rains in anything like sufficient_quantity. Conditions have been excellent for Spring plowing. Very few reports | show ‘plowing less than 50 per cent complete, and 75 per cent would be a fair average n Maryland. Good progress is shown in the plant- ing of early crops, particularly oats, potatoes and garden stuff. Seed beds show good progress for tobacco, to- matoes and sweet potatoes. Some corn for canning has been planted, as well as peas and cabbage. dozen, 250aas0 New potatoes, bar-| vestment securities on a busis not };:flnl‘ .)()(\ ?g:;:x (:‘omp(‘a'hh(:;ge | inconsistent with the generally e a8, i hake: | recognized principles of sound bank- le, bushel, 20230 |ing practice.” National banks are 8150, hoaulifiow | now buying and selling investment Sounds 3 Sp‘l’lnl{ oninn's 100, securities in the natural course as a 1.25a1.50 I On o 260 | Service which has come to be ex-, L e oy .00 ey | Pected by thelr customers, and it isf e i generally recognized as a normal plants, crate, 3.0085.00. | Lettuce, & | banking service, the committee says. ket, 1.00a2.50. Peas, hamper, 2002 | There exists, however, no definite au- Peppers, crate, 3.00a6.00, Rhubarb, | (oriZation in law for the conduct of 3 b, { thi; aracter of nsaction e 100, g_on-u}_‘no. _etmngc:. bslashe’lf ‘;‘o“_l(-ummllue holds that the investment Squash, crate. 2.50a3.50. TomO- | }uginess of national hanik B _|given a definite legal sta es, a i|” The fourth recommendation deals L.lxs?\: .501 “mwhmxgar&efi:}zsggu with the question of permitting na- A slen S0 e e e g . | tional banks to make mortgage loans ranges, box, 5.50a7.00. on city real estate for periods not in Selling Prices at Noon. sanczssno‘f‘ rl\e1 ,\héfll";. At lhle predsem Wheat—No. 1 red Winter, spot, ex- | ime_natlonal banks are allowed_to port, no quotations: No, 2 red Winter, it syl g e o o o 2 ird Wiutas, [ ears: n city real estate for a pe- ced riod of one vear only. Greater lati- ter, ‘garlicky, domestic, 1.65%; No. 3 3 S o Titer o mhotadione tude, the committee savs, should be given to national banks in conduct of Sales—Bag lot at whart at 155. en 1 Corn—Ceb, new, yellow, spot, 6.80s | tiS c1ass of business. per barrel; track yellow, No. 2, Bankers Meet Late Today. i a1.28. § 7 g The District Bankers' Assoctation ! Liples—Bag lot of No. 4 mixed at|y hold a special meeting this after- | T : noon at 4 o'clock at its headquarters (}{‘:_‘:_\:'a‘rf"_s‘l' ey fé 5 for the purpose of increasing memsy ot Tt bership fees. It is expected the pre oL, e A vailing statute fixing a flat yearly Ry Stl Spg (8).. SRSIICcfs (4). Ray Cons Cop. Reading (4) Reading rts. .. Remington Type Replogle Steel. . Rep It & Steel. . Reynolds Sp (1) Rey Tob B (3).. Rossia Ins (6). . Roy Duth 4.42% St Joseph Ld (2) StL & San F (6) St L Southwest. St L Swn pf (5). Savage Arms. .. Schulte (*8) Schulte pf (8) Seaboard Alr L. Seabd Alr Lipf. . Sears-Roebk (6) Shattuck FG (2). Shell Un (1.40). Shell Un pf (6) . Simmons Co (2). Simms Pet (50c) Sinclair Ofl. ... Sinclair pt (8).. Skelly Oil. . Sloss-Sheft (6).. South Port 8 (8) South Pac (6)... Southern Ry (5) South Ry pf (8). Spicer Mfg..... Beth Steel pm 58 Beth Steel rt b Beth Steel 53 Beth Steel s £ 6; Bklyn Ed gen bs. Bklyn Ed 65 B..... Brier HSt 1st 5%s Bush T Bldg 55 '60. Calif Pete 6%s.... Cen Leth 65'45 cfs. Chile Copper Col Gas & E1 | Col Gs & E' 5 Commonwth P 6s.. Con Coal Md 1st b Con GNY 6%swi. 112 Consumers Pow 5z 26 Det Edison s '40.. 10 unfavorable crop conditions, Texas. Sugar lower, trade selling. Coffee firm, steadler Brazilian markets. CHICAGO.—Wheat higher; bullish weekly statistics. Corn firm; bullish wvisible supply. Cattle easy; small sales. Hogs lower; larger receipts. RUSH GRAIN TO'RUSSIA. Eight Full Cargoes Sent From Baltimore in Week. Bpecial Dispatch to The Star. BALTIMORE, April 20.—Eight full cargoes of grain and one of flour brought grain exports to a high mark for the week ended April 17, rd- ng to figures compiled by the Mari- time Exchange. The totals are: Flour, 63,958 barrels; wheat, 458,117 bushels; barley, 39,930 bushels, and rye, 1,919, 095_bushel. The bulk of the grain applied to the large shipments going forward regu- larly to the Soviet government. O Tex Mex YCengen3ls . Y Cent cn 4s'98. Y Cent deb 4 Y Cent r 1 5i N Y Cent deb 6s.. NYC&StLdbi4s. 12 Y Chi & St L5%s {1 er, crate, ¥ Rys adj bs ct. Y State Ry 4% Y W & Bos 4%s. . Norfolk & W cn 4s. Norfolk & W cv 63 Northern Pac 3s... Northern Pac 4 Ore & Calif 1st bs. Ore Sht L cn 53 '46. Ore-Wash 1st rf 43 Pennsyl con 4%s.. Pennsyl gen 4%s.. Pennsyl gen 5s. Pennsyl b Pennsyl 6% Pennsy} golt Pere Marg 1st 5: Peoria & E inc 4s.. Por RL& P 63’47, Reading gen 43s. Rio G West 1st 4 RIArk & L 4%s. St L IM&S 4829 St L1M&S R&G 4s. StL&SFplésA.. 25 barrel, 3.50a7.5 SHOR’J.TTERM Si-:CURITIES. (Quotations furnished by Redmond & Co.) | Donmer Steel 7 Du Pont de N 7% Est Cuba Sug 7%5. 93 Empire G&F T%s. 25 Fisk Rubber 8s. 4 Goodrich 8%s. « 9 Goodyear8s 18931.. 7 Goodyear 8s 1941.. 13 Hershey 65 1942... 2 Humble O&R 5%s. 3 Iliinots Bell 1st 63. 10 Indiana Steel 55... 1 Int Mer Marine 13 Inter Paper 58 '47. 10 KCP&Lt5sA'S2. 9 Adirond. P. & L. Cn, 0s 1929 Alum. Co. of Am. 7s 1983.. an Sugar 65 1937 Tel. & Tel. 68 1 e 1% 21 % 23 108 821 160% 181% 115 100 13% 163 147% 109 154 101 62% o NGB BOAD 6. 1 GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks, Al Ger Gt (w In) 55 1914-18 14 Hamburg 413s 1019 Ger Gyt 4-bs (forc loan) Mil. St. P. 6s 1934. .. R. 1 & P. 5%s 1026, City' of Lyons 6s 1034 Col. Gas & El. 1st 5s 1927 Continent. G. & E. s 1927 Du_Pont 7%s_1981... .. . ¢ Ref. 03 1933 ted Metals 7s 1939 5 asked. 0. 2 rye, 7 Hay—Receipts, 29 tons. The limited {Qunted in dollare per thousand Ger Ge Elec 4148 pre-war 2050 Ger Gen Elec 435 1010 rlin_4s_ pre-war am 35, 3148 & 48 pre.w Hamburg Amer Krupp bs 1921 Dusseldort 4 i Frankfort a-M 4s pre. Munich 4s pre-war. .. Badische Anilin. AEG (Ger Ge Commerz and Ps Disconto Gellschaft Dresdner Bank Deuteche Banlk Darmstaedter Bank.. . Mercer Bank Vienna. Aust A E G NEW YORK, April 2 Steady; receipts, 3,572 tub: higher than extras, 46ad6i; do., ex- tras (92-score), 45a4533; do., firsts (88 to 91 score), 43%4a44%: packing stock, current make, No. 2, 24%a25. Eggs—Easy; receipts, 28,664 cases; fresh gathered, extra firsts, 30%a31%} do., storage packed, 32a3214; do., firsts, fresh gathered, seconds, 29%a29%; End-John (6)... 66 Fairbks (2.60).. 364 Famous Pl (8) 97% Fisher Body (5). 684 Fisk Rubber.... 16% Fisk R 18t (1)... 86% Fleischmann (4) 78% Foundation (8)...109% 109% Freeport-Texas. 10% 10k Gen Asphalt.... Bl% bl% Gen Asph Dt (5). 91 91 Gen Cigar (8)... 984 934 Gen Electric (8) 271% 271% Gen El spl (60c). 11% 11% Gen Motors (6).. 76% 754k Gen Mot pf (7). 105 105 Gen Petrol (2).. 50% 60% Gimbel Bros.... 48% 48% Ginter Co (14). 20% 29% 17 17w b2% 63 974 97% 9 96 4% 14% 6214 62% 28% 284 95% 96 5 5% 2T% 2T% 66 86 96% 66% 14% 854 8% 109 10% 50% 91 927 267% 11% 4% 104% 50 48% 29% 16% 52% 97 96 14% 62 28 95 5 27 974 68 14% 86k 8% 109% 10% 51 91 92% 269% | 1i% 74% 104% 50 484 29% 16% 58 974 96 14% 6214 285 96 5% 21= Goodyear pf (7). Granby Consol. . Grt North pf (5) Gt Nor Ore (1). . Grt Wstn Su (8). Guantanamo. Gulf Mo & Nor. . nearby hennery whites, closely select- ed extras, 36a38; nearby and nearby western hennery whites, firsts to aver- age extras, 32a35; nearby hennery browns extras, 3315a36; Pacific coast whites, extras, 39; do., firsts to.extra firsts, 35a38. ool S Heads Bowie Road Committee. Special Dispatch to The Star. HYATTSVILLE, Md., April 20. P. C. Gorman has been ‘elected chair- man of the road committee for Bowie election district. Gorman was re- cently reappointed to the committee by the county commissioners along with four other members of the com- mittee. LIVE POULTRY HIG CHICAGO, _ April 20.—Poultry— alfve, higher; fowls, 28a29; springs, 33; roosters, 16; turkeys, 28; ducks, 30; broilers, 60a6 " ow 60 60 29 29 86% 85% 69 69 4 4 614 614 294029 62 524 16% 17% ™% ™ 28% 23% T T4 40K 404 22% 22% 184 18% 17% 1T% 124 124 124 124% - 119% 119% 118 118 IntCement (4).. 59% B59% 2::: 59% Int Com Eng (2). 387% 37% 85% Internat Har (5) 109% 108% 107% 108 kit 60 2 29 35 69 44 61 28% 61% 16% ki 28 % 40% 22% Guif St Steel (6) Hanna 1st (7) Hartman (2%). Hayes Wheel (3) HelmGW (3).. Homestake (17). Houston Ofl. ... Hudson Mn (27%) Hudson Mot (3). Hupp Mot (1)... Hydraulic 8t pf. Independ 011 (1) Indian Refining. Inland Stl (234). Inspiration Cop. Interb Rap Tr Internat Agri. Int Bus Mac ( 71 60 29 85 69 44 81 28% 524 173 % 28% % 40% 22% std Gas & El (3) Stand Mill pf (6) St Ol Calif (2).. StOIINJ (1)... StOIINJ pf (D). Stew Warnr (6). Studebaker (4). Submarine Boat Superior Ofl.... Symington. .... Symington A (2) Telautogph 25c. Tennessee Cop. . Texas Co (3).... Texas Gulf (7).. Tex & Pacific. .. Tex & PacC & O Tide Wat Oil (4) Timken R B (14) Tobac Prod (6). Tobe Prd A (7). Transcont Oil... Underwood (3). Un Bag & Paper. Union Ofl....... Unlon Oil (1.80). Un Pacific (10).. Un Pacific pf (4) Utd Alloy Steel. Utd Cigar (13%) United Drug (6) Utd Drug 1st 3% Utd Fruit (10).. U § Cast Iron P. U S Distributing U S Hoft (2).... U S Ind Alcohol. U S Realiy (8).. U S Rubber. ... OE Rub 1st (8).. US Smelting (3) U S Steel (17)... U S Steel pf (7). Universal Pip: Utah Securiti Vanadtum. ..... Va-Caro Chem.. Va-Car Ch ctfs. . va-Caro Chem B Va-Caro Ch pf.. Va Ry & Powe! Int Mer Marine.. 11 11 11 11 Int Mer Mar pf.. 43% 43% §40 40% IntNickel...... 29 29 28% 28% Int Paper. 54 54 B3, B4 Vivadou..... ‘Wabash. . . Wabash pf A(6) Waldorf (1%).. 91 22 1 T. & R. 88 1031. 78 : Hock. Val. R . bs 1926 Humble Ol 53s 1032 .7 Leh. Pw. Se. Cor. 68 1937, . M. 8. P.&S. 8. M6l 1931 Morris & Co. 7%s 1030, ... New York Central 6s Oregon Short Line 4s 1 Pgpnsylvania R. R. 7s 1 ke Ol 5%s. Aug., 192 it & Co. 58 103 3 Tidewater Oil 6%8 1031 7. Pacific R.R. Union Tank Car 7s 1030.. U. S. Rubber 7%s 18300 Western Union 6% 192 Westinghouse E. & M. 78 104 105 . 110 i 107 June 15, 1925 Sept. 15, 16 Dec.’ 15, 1921 Dec. 15, 192! March 15, 19 3 & FRIFFESE R RFES . 1033 Co. 4s 1027 004 o e 2552000, SR A e et e 5e0505055! FEEL SEFFEEEIEEEE FET i % p % s EEE, 52583 107 TREASURY CERTIFICATES. (Quotations furhished by Redmond & Co.) 89 394 100% 1004 1 95% 95% 13% 184 19 19 38 88 894 89% 1284 1284 1 6816 684 18% 134 244 24% 26% 26% 63% 63% 6% 64 22 “224 16% 164 91% 91% 120 120 A 51% B51% 18% 19 66% 66% IPaysble m s given in Ward Baking B. Ward Bak pf (7) West Pen pf (7). West Maryland. West Md 2d pf.. Western Pacific. West Pac pf (6). West Union (7). ‘Westinghse (4). Wheel & L Erle. Wheel & L E pt. White Eagle (2). White Mot (4).. Wilson & Co.... Wi'son & Co pf.. Woolworth (3). Worthington Wright Aero (1) Youngstown (4). {Partly extra, Dividend rates Iatest quarterly or baif-yeas Baitas Glnermlae notes. watre are not 39 00 95% 12% 18% 36% 89k 28 68 12% 2444 26 621 6% 224 15% 904 18% 50% 61 18% 18% 66% 66% 29 100 95% 129 18% 874 89% 128 68 125% 24% 26 62y 6% 224 16% o1% 119 Thove “tabe are the aunual cash payments based on the Bes Kan G &'E168'62.. Kelly-Spring 8s... 4 Laclede G 6%s '52. 11 LoulsvG & Eb8'52 § Magma Cop cv Ts. . Manati Sug sf T%s Midvale Steel 5 Montana Pow 58, Mor's&Co 1st sl% N Y Eden1st 634, NY Tel 4%s.... N Y Tel 6s'41 N Y Tel 65’48 North Am Ed North Am Ed Nor Ohio T&L 68 Nor States Pow 5s. Nor States Pow 6s. Otls Steel 7% Otis Steel 8 17 18 95% 1004 96% 109 105% 95% 96 100% 98 Ppacific Gas & El PacTé& T 1st 58 PacT & T bs 5! Pan-Amer Pete 6s. 27 Pan-Amer Pete 7s. 20 People’s Gas bs. ... 10 Phila Co 5%s '38 2 Phila & Rd C&I5s. 5 pierce-Arrow 8s.. 137 Plerce OIl deb 8s.. 14 104% Public Service 6s.. 18 96% Ppub Serv Elec 3 104% Reming Arms 6s. 86% Rep Ir & Steel 5. 95% Saks & Co st 7s.... 1 105% Sinclair 11 7 o ig ‘:'2‘“ COPL . % oo Dipe Line5s... 1 84% South Bell Tel 6s.. 3 100% est Bell b5. 59 991 ‘Pow 6 100% 103% 109% $%e. 13 ‘s USRub 1strf5s.. % U 8 Steel s £5: 24 105% Va-Car Chem 7s... 82 89% va-Car Ch 7%s w. 61 59 Warner Sug 78'41. 29 934 924 West Elec bs. ... 12 100% 100 West'n Union 1 110% 110% 108 89% 68% 89% B84 924 100 110% StL&SFprinbs. 63 StL&SF6%sD.. § StL&SFadj6s.. 92 StL &S F ino6s.. 3ol StLS W lstds.... 6 St LS W con s 32 StP & KCShL 4%s 2 StP UnDepbs.... 2 Seab'd A Liref 4 Seab'd A Liadj 5s.. Seab'd A Licon 6s.. Sou Pacific 4s ‘29 Sou Pacific clt 4s Sou Pacific ref Southern Ry §n Southern Ry 1st bs Southern Ry s ct. Southern Ry 6% Sou Ry Mobile 4s.. Third Ave ref 48 ‘Third Ave ad] 5. Tol St L& W 4 Union Pac 1st 48 Union Pac 1st If 48 Union Pac 48 '27.. Un Pac 1st rf 5i Union Pacev Virginia Ry st VaRy&P1stbs.. 2 96k Wabash 2d . 195K Washash 6%8,'75.. 41 954 Western Pacificbs 8 934 West Shore 1st 4s. 9 82% Whel &LE 1t 4%s 5 69 PRt 33 PER CENT DIVIDEND. NEW YORK, April 20.—Directors of the Harbison-Walker Refractories Ce declared a stock dividend of a 83% per cent on the common shares in addition to the regular quarterly payment of 1% per cent on both the common and preferred issues. WHEAT ACREAGE LARGER. 'The wheatr-acreage of 19 countries this year was placed at 132,729,000 80% 78 101% 104% 109% 8474 53% 2944 85% 94 87% 99% 106% 104 98 964 95% 94% 93% 82% 69 101% 104% 100% 8474 5314 8815 85% 93 874 99 106% 104 96 984 95% 4% 93% 824 69 24 18 10 106% . 5104 Gs. 42 984 acres in a report to the Department |C! of Agriculture today from the Inter- national Institute of Agriculture at Rome. The same countries last year had an acreage of 138,169,000, demand prevailing for hay is confined exclusively to the better grades of timothy, and choice light clover mixed, of which sort there is no oversupply. Demands in the hay line are so limit- ed that it takes comparatively little stock to go around, and truck receipts from nearby points are still a factor in reducing requirements at the regu- lar hay sheds. Quotations today—No. 1 -timothy 18.00a18.50; No. 2 timothy, 16.00a16.51 No. 1 light clover, mixed, 17.00a17.5 No. 1 clover, mixed, 16.50a17.00; No. 2 clover. mixed, 15.00a16.00. Straw—No. 1 wheat, 15.00a15.50 per ton; No. 1 oat, 15.50a16.00; No. 1 straight rye, 18.50a19.00. DAIRY PRODUCTS. BALTIMORE, April 20 (Speciall.— Live poultry—Young chickens, pound, 25a38; rough, poor, stags, 25a27; Win-: ter chickens, 45a50; Springers, '50a60; old hens, 25a32; Leghorns, 25a26: old roosters, 17a18; ducks, 18a26; pigeons, pair, 50; guinea fowl, each, 50a1.00. Eggs—Receipts, 916 cases. Native and nearby firsts, dozen, 28%a29; duck eggs, dozen, 30a32. Butter—Good to_fancy, pound, 4la 46; prints, 46a48; ladles, 28a29; store packed, 23; dairy prints, 23a2§; rolls, 23a28; process butter, 31a32. xR T FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Sellh? checks TLondon, pound. "lsd]s.‘s"e% samva';.‘ Montreal, dol 100, Paris, franc. Brussels, fran Berlin, mark. Rome, lira. Vienna, Budapest, crot Prague, crown. Warsaw, zloty. Copenhagen, crown. ristiania, crown. Stockholm,” crown. charge of $50 a membership will be stricken out and a new one assessing members in proportion to their total resources, with a minimum levy of $100, adopted. Under the present inadequate and unsatisfactory charge every member is called upon to pay a speclal assess- ment each,vear to meet current ex- penses. The new charge, originated by Corcoran Thom, will approximate budget requirements. Program at Institute. The Washington Chapter, American Institute of Banking, will elect 81 | delegates on Thursday night to the annual convention in Kansas City. Also the by-laws of the chapter will be amended on this night to allow one member, not affiliated with a bonafide banking institution, to sit on the gov- erning board. On Tuesday night a card party will be held in the chapter room, the proceeds to be devoted to chapter requirements. Tonight R. B. Dickey will lecture before the negotlable instruments , class on ‘“Protest,” and on Wednes- day the same instructor will discourse on “Discharge.” The public speaking and debating class will meet with Rutus Lusk in_the Stock Exchange rooms, and on Friday F. J. Donohue will conduct an examination in the standard banking class. ’ Trading on Local Board. Common stock of the Washington Raiflway and Electric Co. sold to the extent of 100 shares at 109, the high- est price ever reacmsd on the local exchange, this morning. The transac- tion was the only feature of the market. Capital Traction was traded in ex- tensively, a total of 312 shares chang- ing hands, with 9213 the prevailing figure, Norfolk and Washington Steamboat brought 248, and Riggs Bank was firm fractionaily above 342, ‘American Security and Trust brought 325, and Lanston 80%. l Colorado leads the States in beet sugar production. The Swiss prepare their coffee p\l mixing it half and half with hot milk.