Evening Star Newspaper, April 21, 1925, Page 22

FINANCIAL, AINS INMOTORS FEATURE STOCKS Several and Copper Issues | Drop to New Low Levels for Present Year. BY STUART P. WEST. Hpecial Dispatch to The St NEW YORK, April 21.—Prices went lower again on the Stock Exchange today, not because of any fresh hap- penings in the outside situation, but because the market was not pleased with conditions in a number of im- ortant lines of trade. p(‘opper shares were veak despite reports that a rather better demand at the low prices had developed for the copper metal. Kennecott well under 42 was making a delayed response to the annual report showing earnings of $2.02 a share,against 96 cents in 1923, But thik had to be set against the $3 distributed in dividends and had to be considered along with the fact that present conditions in the copper in- dustry are decidedly less favorable than in the latter half of last year. Anaconda sold heavily under 36. TWhether the company is earning the $3 dividend under existing conditions is doubtful. Selling in Steel Stocks. The steel stocks were also sold on the ground of disappointing trade conditions. United States Steel drop- ped below 116 after having closed Monday at 116%. Republic Iron and Steel got below 44 and other inde- pendent steel stocks were heavy. Motor stocks were the feature of the market largely because of the fact that some of the principal companies were holding their meetings during the day, at which important dis- closures were thought likely. Merger rumors were flying thick and fast. The street was much impressed when big buying orders were thrown into Studebaker soon after midday and the stock was carried up over a point. Hudson Motors Strong. The strength in Hudson Motor was notable throughout, although the in- centive here lies more in the highly favorable earnings of the company and the remarkable position in the balance sheet. A break of over 13 points in United States Cast Iron Pipe was set down to the uncertainties surrounding the dividend policy. Profit-taking occurred | g in Coca-Cola just above par. The new Fisher Body stock at one time was up 2 points or more. Strength continued in the American tobaccos on account of the attractiveness of their yield as 7 per cent stocks. The selling of Bal win Locomotive was superficially based upon the upheaval in Rumania, which owes the Baldwin Co. quite a bit of money. Central Leather Improves. The explanation for the recent re- covery in Central Leather stocks was made clear by the figures for the March quarter. These showed net profits of $578,726 after expenses, in- terest, etc., against a deficit of $36 618 in the first three months of 1924. This was equal to $1.73 a share on Central Leather preferred. F. G. Shattuck stock today sold at the highest since its admission to trading a month ago. It was un- usually active above 50. MARKET CLOSES WEAK. Marking Up Call Money Makes Declines More Rapid. By the Associated Press. NEW YORK, April 21.—Revival of professional selling pressure brought ebout another sharp reaction in prices in today's stock market. Temporary suspension of bull operators in several issues, particularly in the motors, fa- cllitated the decline, which was most pronounced in shares of companies Whose earnings prospects are veiled with uncertainty. Total sales approx- fmated 1,300,000 shares. The closing was weak. Marking up of the call money rate to 412 per cent stimulated the liquidation of stocks in the late trading. Commercial Sol- vents A broke 9 points to 120, and Mack Truck, Maxwell Motors “B," AWillys-Overland preferred and Frisco common fell back 3 to 4 points. Markets at a Glance NEW YORK sues at new lows. obligations turn reactionary. F exchanges irregular; sterling rallies al- most a cent. Cotton lower; showers Oklahoma. Sugar heavy; raw sugar at vear's lowest prices. Coffee easy: slow spot demand. CHICAGO—Wheat barely steady; disappointing export demand. Corn Jower; expectation large acreage. Cat- tle firm; broad shipping demand. Hogs steady; big packers holding out. DECREASE IN IMPORTS NOTED AT BALTIMORE Bpecial Dispatch to The Star. BALTIMORE, April 21.—Imports through the port of last week showed a decrease of $582,713 as compared with the previous week, ac- cording to the report of Charles H. Holtzman, collector of customs. Ex- ports, however, amounted to $3,547, 284, an increase of $640,184. Total m- ports for the week amounted to 31,791,371, of which $378,937 was free and $812,434 dutiable. Stocks weak; Bonds WALL STREET NOTES. Philippine Railway Reports Cut in Annual Deficit. NEW YORK, April 21.—The Phil- ippine Railw reports a deficit of $171,274 for 1924, against a deficit of in 1923. 2. McConnell has been elected president of the Centrifugal Pipe Cor- poration to succeed W. T. C. Carpen- ter, who resigned. Net income of the Southern Indiana Gas and Electric Co. for 1924 in- creased to $379,020, for $318,413 the year before. NEW YORK DAIRY PRICES. NEW YORK, April 21.—Butter— Firm; - receipts, 11,437 packages; creamery, higher than extras, 46% to 47; do., extras (92 score), 46; do., firsts’ (88 to 91 score) 42a45%; pack- ing stock, current make, No, 2, 253 Eggs—Weak: recelpts, 79,680 cases; fresh gathered, extra firsts, 30a3 do., storage packed, 30%a32; do., firsts, 29a29%; do., storage packed, 30a31; fresh gathered, seconds 28%a 28%; nearby hennery, browns, ex- tras, 333%a3p: Paclfic coast whites, firsts to extra firsts, 34a3s. LIVE POULTRY HIGHER. CHICAGO; April 21.—Poultry, alive, higher; fowls, 29a30; Springs, 33 roosters, 16; turkeys, 28; ducks, 30 geese, 18; broilers, 60a65. et BUTTER HIGHER TODAY. CHICAGO, April 21.—Butter higher; creamery extras, 443 standards, 44%; extra firsts, 43a43%; firsts, 413 ad23%; seconds, 34a39. Eggs _easy; receipts, 40,722 cases; firsts, 27%a27%; ordinary firsts, 26%; slorage pack, extras, 30; firsts, 295, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Ad Rumley pf (3, Ahumada Lead. . Alr Reduct (4).. 1024 102% 10/ Ajax Rubber.... Alaska Juneau. . Allled Chem (4). Allied Cm pt (7). Allls Chalm (6). Allis Chim pf (7) Am Agricul Chm Am Ag Chm pf. . Am Beet Sug (4) Am Bosch. ..... ‘Am Brk Shoe (5) Am Can (17) Am Can pf (' Open. High. 16 52 10% 184 1% 86 118% 9% 106 19% 48% 89 82% 100 7 AmCar& F (13) 1 Am Chatn A (2). Am Chicle. Am Chicle pt. ... Am Drug (60c). Am Express (). Am & For Pow. . Am & Fr P pt (1) Am Hide & Lea. . Am Hide & L pt. Am Ice (7). Am Internatl. Am La Fran (1). Am Linseed. .. .. Am Linsd p: Am Metal pf (7). Am Radiator (4) Am Safty Rz (3) Am Ship & Com. Am Sm & Ref (6) AmS& R pf (7). Am Stl Fdys (3). Am Tobacco (7). Am Tobac B (T). Am Tobac pt (6) Am WW&ZI 30c. Am W W pf (6). Am W W 1st (T). Am Woolen. ... Am Wool pt (7). Anaconda (3)... Archer-Danlels. Armour Del (7). Armour I1l A(2) Asso D G 1st (6. Asso Ol (1%) AtT&SFe (). AUBirm & At... AtlanticCL (7). AtGuif& WI... At Gulf & WIpf. Atlantic Refin. .. Atlas Tack. Austin-Nichol Ealdwin L (7)... d Loco pt (7). Eal & Ohio (5).. Bal & Oh pt (4). Eang & Ar (8).. Earnsdall A Barnsdall B. Dayuk Clgar. Beech Nut (2.40) Bethiehem Steel Eeth 8tl pf (1).. Booth Fisherles. Briggs M{g(3%) Bl Edison (8).. Bkl-Man Tran.. Bkl Union G (4). Erown Shoe (4). Bruns-Balk(80¢) Burns Br B (2).. Bush Term (5) .. Bush Trm pf (7). Eutte Cop (50¢). Butte & Su(50c). Caddo Central... Cal Packing(6) Cal Pete (1%) c Can Pacific (10). Case Thresh pf.. Cent Leather. Cent Leather pf. Century Rib (2). Cero d Pasco (4) Certain-Teed... Chand Mot (3)... Ches & Ohio (4). Chi & Alton..... Chi & Alton pf.. Chi & Est 111 pf.. Chi Gr West pf. Chi Mil & St P. Chi Mil & SP pf. Chi & Nwn (4).. Chi & Nw pf (7). ChiPneuT (5).. ChiR1& Pac... CRI&PDL(6). CRI&PPI (D). ChStPM&OpI(5) Childs (12.40)... Chile Cop (2%). Cluett Peab (5). -Cola (7)... Coca-Cola pf (7). Colo Fuel & Iron Colo Southern... ColG & E (2.60). ColG & Epf (T). Com Solv A (4).. Com Soly B..... Congol-Nra (3). Conley Tin Foil. Consol Cigar. Cont Mot (80c) . Corn Prod (2) Crucible Stl (4). Crucible pf (7). Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pf.. Cushmans (3). .. Cuban Dom pf.. Cuyamel Fr (4). Cuyamel Frrts. Daniel Boone. .. Davison Chem. . 189 28% 88% 18 94 B5% 11% 934 107% 49% 65 105% 46% 1024 101% 39% 3% 121% 6% 154% 36% 41% 101% 12 28% 118% 110% 74% 4% BT% 129% 39 82 2% 8% 20 108 91 6% 1% 18 144 105 86 44% 85% 95 78% 53 82% 63 99% 101 23% 6574 105% 126% 125% 2% 38% 67w 924 29% 11% 53% 63% 88% 63 1 2% 82% Del & Hud (9)...152% Del L&Wn (7). D & R G Wst pf. Detroit Ed (8). . 130 87% 116% Dodgs Bro pf wi. 100 Dome Mines (2). Doug Pectin (1). Dupont (10). DuPont deb Duquesne pf (7). Eastman (18) Eaton Axle. Elec Power ctfs. 18% 16% 145 1. Elec Pow w i.... 101 Elec Str Bat (4) End-John (5) Exchange B (1). Fairbks (4.60).. Famous pf (8).. Fed Mines pf (1) Fisher Body (5). Rubber. R 1st (1) Fleischmann Foundation (8)., Freeport-Texas. Gardner Motor. . Gen Asphalt. h pf Gen A . Gen Clgar (8)... . Gen Gig deb (7). Gen Electric (8) Gen El spl (600). Gen Motors (6) .. Gen Mot deb (6). Gen Mot pf (T).. Gen Petrol (2). Gimbel Bros. Ginter Co (1%). Goodrich. Goodyear pf (7). Gdyear prior (8) Granby Consol. . Grt North pt (5). Gt Nor Ore (1). Grt Wstn Su (8). Gt West Spf (7). Gulf Mo & Nor. . GuM & N pf(6). Gult St Steel (5). Hartman (23%).. 28% 28% 97% 106% 51% 109% 10% 106% 270 11% 4% 884% 104% 60 62! 96% 108% 95% 108 27% 93 16 52 10% 0 18% 12% THE Hayes Wheel (3) Hays W pf (13%) House P (13%).. Houston OIl. Hudson Mn(2%) Hudson Mot (3). Hupp Mot (1)... Hydraulic St pf. Illinols Cent (7). Independ Oll (1) Indian Motorcy. Ingersoll R (8) Inland Stl (2% Inspiration Coj Interb Rap Tr... Internat Agri. .. Int Cement (4).. Int Com Eng (2). Internat Har (5) Int Mer Marine. . Int Mer Mar pf.. Int Nickel Int Paper. Open. High. 85% 86% 108% 36 50! Int Ry CA pf (5). t Int Shoe (5) .. Int Shoe pf (8).. Int Tel & Tel (6) Jordan Mot (3). KCP & Li1st (7). Kan City South. Kan C So pf (4 Kelly-Spring. Kelsey Whi (6). Kennecott (3).. Keystone T & R. Kinney GR (1).. Kresge S S (8).. Lee Rub & Tire. Lehigh Val (3%) Liggett & M(14). Lig & My B (14). Lima Loco (4).. Loews Inc (2) Loft...ccasannes Long Bell A (1). Loose-Wiles Lorrillard (3)... Louls & Nsh (6). Loulsiana Oil... Ludlum (2). . MelIntype P (1).. Maclk Treks (6) . Mack T 1st (7).. Mack Trk 2d (7). Macy HR & Co.. Magma Copper. . Mallinson & Co. . Mallinson pt (7). Man El Sup (4). Market St prior. Marland Oil..... Mar-Rock (26¢). Martin-Pry (4). Mathieson Alka. Maxwell Mot A... Maxwell Mot B. . May Dept St (6). 4% 78 890% 13 76% 59% 59% 64% 27% 8 811 104% Metro Ed pf (‘1)‘) 9% Metro G pf (1.89 Mexican Seabd. . Miami Cop (1) Middle States. Mid-Continent.. Midind Pr pf (8). Minn & St Louls. Mis Kan & Tex.. MK&Tpt (5).. Missouri Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (8)... Mother Lode 750 Motor Whi(76¢). Mullins Body . Murray (2.40). Munsingwr (3). Nash Mot (t11).. Nat Biscuit (3).. Nat Cloak (4)... NatCl& S pf (7) Nag Supply (3).. Nevada Copper. Nwpt U Gas (5). N O Tex &M (7) N Y Afr Br (4).. N Y Canners (3) N ¥ Central (7). NY C&StL (6).. NYDock....... NY NH & Hart. . NYOn & Wn (1) Norfolk South. . Norf & West (7) North Am (3.40) North Am pf (3). North Pac (6)... Orpheum (1.80). Otis Elevator (8] Otis Elev pf (6) . Otis Steel....... Owens Bot (3).. Pac Coast 2d pf. Pacific Gas (8) Pacific M: Pacific Ofl (2 Packard (11%). "| Pan-Amer (6).. 93 68% 28% 23% Texas Gulf (7).. Pan-Amer B (6) Park & Tilford. Penn Ed pf (8).. Pennsy RR (3). Penn Seab Steel. Peoples Gas (8). Peorla & East. .. Pere Marg (4).. Pere Mar pf (5). Phia Co (4). Phia Co pf ( Phila&RC& Phillip Morris Phillips Jones. . Phillips Pet (2). Plerce-Arrow... Plerce-Arrow pt Plerce-A prior 8 Pierce Oll...... Plerce Petrol... Pitts Coal...... Pitts Coal pf (6). Pitts Ut ctfs 1.20 Pitts & West Va. Postum-Cer (4)* Press Steel Car. Pub Ser NJ (6). Pub S NJ pt (7) Pub S NJ pf (8) Pullman Co (8). Punta Al Su (5). Pure Ofl (1%).. Radio Corp of A. Radio Cpf (3%) Ry Stl1 Spg (8).. Remington Type Replogle Steel. . Rep It & Steel. . ). Rey Tob B (3).. Rossia Ins (6)... Roy Duth 4.42%. Rutland pf St Joseph Ld (2) St L & San F (6) St L Southwest. Savage Arms. .. Schulte (*8).... Schulte pf (8) Seaboard Air L. Seabd Alr Lipf. . Sears-Roebk (6) Shattuck FG (2). Shell Un (1.40). Shell Un pf (6). Stmmons Co (2). Simms Pet (50¢) Southern Ry (5) South Ry pf (5). Spicer MIg..... Std Gas & Ei (3) $td G & E1 pf (4) St Oil Calit (2).. StOIUNJ (1)... Std Plate Glass. Stew Warnr (5). Stromberg (6).. Studebaker (4). Submarine Boat. Superior Ofl Superior Stl Sweets (new) Symington. .. Symington A (2) Telautogph 25c.. Tennessee Cop. Texas Co (3). 194 856 101 48 8% 44 4 108% 108% Low. Close. 84% 85 . 108% 86 60 284 52% 1% ™ 118 28% 14 227% 40 22% 164% 10 59% 84% 106% 11 40% 28% 51% 60 122 119% SHARP DECLINES IN FRENCH BONDS Fear of Drastic, Financial Measures in France Causes Weakness. BY GEORGE T. HUGHES. Special Dispatch to The Star, NEW YORK, April 21.—Demand for high-grade investment bonds was vigorous today not only on the ex- change, but in dealings over the coun- ter. It was lack of large blocks that restricted business rather than the price. On the board Atchison general 43 s0ld above 90, at a new high for the year. Union Pacific first 4s equaled their previous high and orders to buy generally inactive railroad bonds, such as Allegheny Valley first 4s, found such a lack of offerings that the price advanced more than a point above the best previous record for the year, Treasury Issues Up. This show of strength in high-grade rallroad bonds extended to United States Government securities, Treas- ury 4s duplicating their best previous price. Among the utilities Western Electric debenture 5s sold above par. Foreign bonds were generally lower. All the direct obligations of the French government were down, the loss in the $s amounting to a full point. French Railway issues, Paris, Lyons and Mediterranean 6s and 7s were deflnitely weak, and so were Seine 7s. German 7s fell below 94 for the first time in a long time. Evi- dently the rparket was taking an un- favorable view of developments in French and German politics. The feature in the speculative domes- 14 | tic industrials was the heaviness in su- gar bonds, Cuba Canes 8s selling with- in a small fraction of the low of the year Copper bonds were heavy. There was little change in the tractions and the fertilizer and motor bonds were firm, while of the oils, American Republic 6s had a sharp runup. Among the new offerings scheduled for this week are $2,000,000 Mountain States Power first 6s, due 1938. e C. & 0. NET INCOME IN SHARP ADVANCE Gain of Over 34 Per Cent Made During Year, Says Annual Report. . By the Associated Press, RICHMOND, Va., April 21.—The net income of the Chesapeake and Ohio Railway during the last calendar year was $12,101,070, an increase of $3,12 640, or 34.766 per cent. The annual re- port of the company made public to- day showad operating revenues of $108,033,448, an increase of 5.94 per cent, and operating expenses of $82,- 781,702, an _increase of 4.93 per cent. A’ letter from the minority groups’ counsel protesting against the holding of the meeting was read by W. J. Har- ahan, president of the road, where- upon’ W. A. Colston, general counsel and -vice president of the Greater Nickel Plate and a director of the Chesapeake and Ohio, moved that the meeting be postponed until a later date. The minority group pointed out that the rules of the New York Stock Exchange, subscribed to by the Chesa- peake and Ohio, require the annual re- port to be placed in the hands of stockholders 15 days before the annual meeting. GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Ger Gt (w In) 3 1914-18 1475.00 Hamburg 4358 1919..... 187.50 Ger Gt 4-58 (forc loan). 14.00 (Quoted in dollars per’ thousand Ger Ge Elec 4%s pfe-war 20.50 Ger Gen Elec 4158 1910. Berlin 4s_pre-war 2 Ham s, 3136 & 48 pre-w burg Amer Line 438 erman Lloyd 4 s North German Lioyd. ... Prussian Consols 3%. Krupp 58 1621. i3 PG 3 220022092202 333833323378 : s m 2 Son ot oo o Commerz and Privat Disconto Gellschaft Dresdner Bank. . Deutsche Banl . Darmstaedter Ban] TREASURY CERTIFICATES. (Quotations furnished' by Redmond & Co.) ————Noon.: LR Ppwgem 0o 835 38 8 il 13 s Tex & Pacific... 53 3% Bl% b6lk Tex&PacC&0 13% 13% 138 13 Tide Wat Ofl (4) 182 182 182 Timken RB (14). 41% 41% 40% Tobac Prod (6).. 7 Tobe Prd A (7) Transcont Oll... Underwood (3). Un Bag & Paper Union Oil. Union Ofl (1.80° Un Tank Car (5) Un Pacific (10).. Un Pacific pf (4) Utd Alloy Steel Utd Cigar (13% United Drug (6) Utd Drug 1st 3% Utd Fruit (10).. U S Cast Iron P. U S Distributing U S Hoff (2).... U S Ind Alcohol. U S Realty (8).. U S Rubber..... U S Smelting (8) USSmpf (3%). U S Steel (17)... 1 U S Steel pt (7). U S Tob pf (7)... Universal Pipe.. Univer P pf (7 Utah Securitie Vanadrum. . Va-Caro Chem.. Va-Caro Ch pf Va-Car Ch f cfs Va Ry & Powe! Vivadou.....eee Vulc Det p# (7). Wabash........ Wabash pt A(5) waldorf (1%). . Wward Bak pf (1) W Pa Pow pE(7). West Maryland. West Md 2d pf.. 41 76 6 6 99 98% $9 &% 4 39 Wh White Mot (4).. chkwl:o ‘;mn. Wwilson aae Wi!son & Co pt. Wwillys-Overind. Wills-Over pf... Woolworth (3).. 119’ Worthington... 49% 49% Wright Aero (1) 19% 19% Wrigley (18%).. 48% 48% % 9% Y 122 8% 48% UNITED STATES BONDS. (Bales are in $1,000.) Bales. High. 48 10112 21016 1015 81 1023 10129 111 101 11 1016 207 101 80 101 27 Lib4 4%s.. 286 1029 1025 US4n1944. 215 101 12 1013 US4%s’'563. 51 10511 1058 FOREIGN. Argentine bs. Argentine 63 A. Bolivia 8s. . Bordeaux 6s. Canada 5s 1931 Canada bs 1952 Canada 5%s 1929 Chile.7s 1943. Chile 85 1926 Chile 85 194 Chile 8s 19 Christiania 6s Con Pow Japan 7 Copenhagen 5%s. Cuba 5%a / Czecho 81 1961.... Czecho 88 1952 ct.. Danish Munic 8s A Danmark Denmark DEI&%s Mch '53. D EI5%s Nov'53. Dutch East I 47 F1 Salvador 8 Finland s f Finlands 7s Framerican 7%s.. ¥rench 7s 8 | 3 R atm e~ ROADBRNB O mON © - Hungary 6%s. Japanese 4s Japanese 8% Jergens U M 647 Lyons 6 Marsellle 6s. Mexico 4s'10 asntd Montevideo 7s.... 1 Netherlands 6s '54 Netherlands 68 '72. Norway 6s 1943 Norway 6s 1944... Norway 6s 1952 Orient Dev deb Paris-Ly’s-Med Paris-Ly's-Med 7s. grll Orleans 7s ru s. . Poland 6s '40 Poland s 50 wi. Queensland 6s. Queensland 78 Rio de Jan 8s 1946, Rio de Jan 88 1947. Sao Panlo State S Paulo St 8s wi.. Sefne Dept ef 7s... 4 Serbs Crot Slo 9 Ud Kingm 5%s '37 Ud Steam Copen Uruguay 8s Zurich 8s. MISCELLANEOUS. Am Agr Chem 5s. Am Agr Chem 7%s 10 Am Chain sf 6s'33. 16 Am Repub deb 6s.. 65 Am Smit & R 1st 63 12 Am Smit & R 6s. Am Sug ref 6 AmT&Tecltr AmT& Tl tr AmT&Tst5s. Am T & Tdeb 5%s AmT& Tev6s.... Am Water Wks 5s. 10 Anaconda st 6s... b Anaconda cv &b 7s. 28 Andes 7s Zow pd. 16 17 13 Barnsdall s f Beth Steel pm Calif Pete 61 Cen Leth 68'45 Chile Copper Commonwth P 2 Con Coal Md 1st bs Con G NY 5%s wi. 100 Consumers Pow 68 19 Cuba Canecvd 8s. 10 Denver Gas 5: N Det Edison 5s°40.. 28 228 Duquesne Light Est Cuba Sug 7% Emplre GEF 7% Goodrich 6%s..... Goodyear 8s 1931. Goody! Hershey 65 1942. 105% 109% Inter Paper bs K C P & Lt 53A'52. Kan G & B 68°52.. Kelly-Spring 8s... Lacl G ref 5s'34... Laclede G 5%s '52. Liggett & Myrs bs. Loulsv G & E 5853 Magma Cop ov. K NY Tel 65'49. North Am Ed 6s... North Am Ed 6%s Nor Ohio T&L 6s.. Nor States Pow bs. Otis Steel 7%s.... Otis Steel 8s. - pacific Gas & E1 68 PacT& T 18t 5s... PacT & T 68'62... Pan-Amer Pet Pan-Amer Pete 7s. Phila Co 5%s " Phila Co ref Phila & RA C&16s. Plerce-Arrowis.. &1 Producers & Rf8s. 3 Public Service bs.. 4 Public Service .160 Pub Serv Elec 6s.. Reming Arms 6s.. Rep Ir & Steel bs.. Sharon Stl H 8; Sinclair Ofl 68 Sinclair Oll 6%s. Sinclair Oil 7 Sin COP L 6 Skelly Oll 6% el 1 15 Southws Tenn Elec Pow 6s. 1 Tide Wat Oll 6%s. Toledo Edn 1st 7s. United Drug 6s.... U S Rub 1st rf & U S Rubber 7%s. U 8 Smelter €s. USSteels £6a.... 54 106% Utah Pow & Lt 6s. 54 94% Low. 2:30. 8% 89% 78% T84 2% 924 100 100% 7104 111 107% 107% 83 83 100 7% T4 Sales. High. Va-Car Chem 7s... ol 90 Warner Sug 7s 3 8% Warner Sug 7s’41. 5 Westinghouse 7i Wickwire Spen 7s. Willys-Ov 65" Wilson&C cv 7%s. 10 70% Winchester A T34s. 6 101% Youngstn S&T 6s.. 12 98% RAILROADS. Ann Arbords..... 664 Atchison gen 4s. . AtlanticC L1 AtlanticC L 70 101% o8 66 50 92% 106 89 Bklyn-Manhat 6s. Buff R & Pitt 4%s Canad North 6%s. Canad North 7 Canad Pac deb Car Clinch & O 5s. Car Clinch & O 6s, CentofGa5¥s. .. Central Pacific 4s. Ches & O cv 4%s. . anaBamdo Chi & Alton 3%s. . Chi B&Q gn 4s '68. Chi B&Q 1st rf 6s. CB&Q-TI 3%s Ch1&E1gn 6 Chi GreatWes CM & Puget Sd CMA&StP4s’'28 CM&StPdb4 CM&StP gn 45 '89 CM&StPcva%as CM&StPgn 4%s CM&StPreatks C M &St Pcv bs. CM &St P 6 C&NW gen 4s. Chi & N W ref § Chi& N W 6% Chl & N'W 7s. Chi Rys bs ChiRT& P ChiRI&Prf ChITH&SE ChiUn Sta 5s. . © 13 COC&StLrf6sA. C &8 18t 48°2 Colo & Sou 4%s. Cuba R R Cuba RR 7%s. Der & Ha 1st rf 4s Den & Rio G cn 4 D & Rio G imp 5s.. D & Rlo G Wst 5a, Des M & Ft D 4s. Erle 1st cons 4s. Frie gen 4s. Erleconv 4s A. Erie conv4s B, Erie conv 4s D. Erle & Jersey 6 Erle (Pa) cit tr Gr Trunk st db 6s. Grand Trunk 7s. Great North 5s. GrNorth 5%s GrNorth gen Ts. Green B & W db B. Havana ERL&P 51 Hud & Man ref 5s. Hud & Man aj § 111 Central ref 4s. Tl Central 5348 Tl Cent ref 5 '55. . 111 C-C St L&NO 5s Int Rap Tran bs. .. Int Rab Tr 58 stp Int Rap Tran 6s. Int Rap Tran 7s. Int & 5 Nor 1st 6s. Tnt & G Nor aj 6 Towa Cent rf 4s Kan City F't S 4 Kansas City S 5 Kan Cy Term 4s. Lale Shore 45 '28 Lake Shore 4531 Louls & Nash 7s. Mannat ey cn 4 1064 60 7Y% MK&Trprlnbs MK&T6sC. Mo Paclfic 55 '65. Mo Pacific 6s. Montrl Tm 1st 5s. New Or Term 4s... NY Rys ad] bs ct. N Y State Ry 434 NY W & Bo3 448 Norfolk & W cn 45, Norfolk & W cv 6s. Northern Pac 3s... Northern Pac 4s. .. Northern Pac 58 D. Northern Pacr | 68 Ore & Calif 15t 6 Ore Short L ref 4 Ore-Wash 1st rf ds Pennsyl gen :%' . Pennsyl b: Pennsyl 6% Pennsy) gold 7s... Peoria & E incds.. Pere Mara 1st 6s. . Por R L& P 6847, Reading gen 4% Rio G West cl 4 RIArk & L4%s St L IM&S 48 St LIM&S R&G 2 StL&SFpldsA..112 StL&SFprinbs. 21 StLSWcon4s's3 6 St P & KCShL 4%s 18 Seab'd A Liref 4s. Seab'd A Liadj 58 Seab'd A Licon 6s.. Sou Pacific 4s 39 Sou Pacific clt 48 Sou Pacific ref 4s.. 35 Southern Ry &n 4s. 55 Southern Ry 1st bs 1: ‘Third Ave a Tol St L& W 4 Toledo Trac 6s Union Pac 1st 48 Union Paclstrfds 5 Unlon Pac 4s'37.. 18 Union Paccvés... 8 Virginia Ry 1st bs. 64 Va Ry & P 1st 58 1 t Wisconsin Cent 4s. _ PARIS, April 21.—Prices were on the Bourse today. Three per rentes, 45 francs 20 centimes. 8% firm cent Ex- v | change on London, 91 francs 60 cen- times. Five per cent loan, 56 francs 10 centimes. The dollar was quoted at 19 francs 14 centimes. FINANCIAL, [ovme vom BONDS smoexzxcmnce] |\ WHEAT GOES DOWN |BUSINESSIN CITY - Received by Private Wire Direct to The Star Office. ON RAIN' REPORTS Slow Export Business Also Weakens Market—Corn and Oats Easy. By the Associated Press. ' CHICAGO, April 21.—With good rains reported over part of the North- west, wheat averaged lower in price today during the early dealings. It was recalled that in 1905 and in 1915 the Northwest raised bumper crops under present conditions, and it was suggested that a repetition of the 10- vear cycle might be witnessed this season. Apparent dearth of impor- tant new export business tended also to induce selling and to weaken val- ues. The opening, which ranged from 3% decline to 1 advance] May 1.50 to 151 and July 1.40% to 141%, was followed by numerous fluctuations within limits of about 3%, May touch ing 1.47%. Despite a good deal of commission house buying in the corn market, corn and oats were easy, taking their cue mostly from the action of wheat. Aft- er opening unchanged to 13% higher, July 1.13%, the corn market under- went a setback to below yesterday's finish. Oats started at % off to % up, July 43% to 43%. Later there were small losses all around. Provisions had a downward slant in the absence of any aggressive sup- September .| OAT: COTTON OPENS WELL, THEN TAKES TUMBLE Good Rains in Southwest Cause Heavy Selling—Cables Also Poor. By the Associated Press. NEW YORK, April 21.—Although the cotton market opened steady to day at 12 points higher to 1 lower, in response to firm Liverpool cables, it quickly vielded to active selling pressure based on rain reports from Texas, and broke to 24.55 for May and 24.66 for October. These prices rep- resented a drop of 26 to points from the highest opening levels. Private advices sald that good rains had fallen in western Texas and Okla- homa, at least partially relfeving the drought, and this, with weakness in the New Orleans market and a later severe drop in Liverpool, brought out active Wall street, Liverpool and Southern selling. Most of the early demand came from the trade, who are buying on the scale down and from local shorts replacing sales made vesterday New Orleans Quotations. NEW ORLEANS, April 21.—The cotton market opened easfer and very active. Liverpool was much better than due and New York opened high- er, but the market here dropped at the start by telegrams from Okla- homa City, claiming the drought had been completely broken by good rains. CHICAGO LIVE STOCK MARKET CHICAGO, April 21 (United States Department ’of - Agriculture).—Hogs— Receipts, 21,000 head; early trading to shippers: packers, steady Monday's averagy 300 Ib. averages, 140 to 160 1b. avy bulk strong to 10c higher than bulk sorted 170 to 5a12.43; top, 12. ges, mostly 12.25a weight slaughter smooth packing sows mostly s holding out; veight hogs, 25a12.50. lights, 1 smooth, rough, ' 1 10.75a12. Cattle—Receipts, 10,000 head; fed steers, steady to strong; spots shade higher than Monday's average mar- ket; killing quality less desirable; shipping demand broader; top weighty steers, 10.85; several loads, 10.50a.10.7; best vearlings, 11.00; comparativ, little to killers under 9.00; bulk, 9.25a 10.40; stockers and feeders very firm, no change in other killing classes; bulk heavy bologna bulls, 5.00a5.25; few to shippers, 5.35; vealers slow, 8.50a8.00; mostly on light calves; handy weight in demand on smaller killer and shipper account at 10.00a11.00. Sheep—Receipts, 22,000 head: slow; early sales fat lambs mostly 25c low- er; good to choice 80 to 84 Ib. wool lambs, 14.25a14.50; best held at 14.75; 86 to 89 Ib. weight, 13.50814.00: no clippers sold; fat sheep and shearing talking 12.10a12.5 packing packing slaughter hogs, hogs, pigs, 10.75a11.15; 50a10.75; Pay- Stek ot Sorp. able. ~ record. A Coal of Alghy. May 1 Deutsche Ban! TR e Harbinson-Walker o7, June 1 May 21 May 10 Apr. 30 . July 20 July 10 RIS T Y A 2 o7 May or. Stewart-W SimroA. $I.28 May 15 Apr.13 o STOCKS EX-DIVIDEND. . 24—Do. extra. . 24—Washburn-Crosby Co. B Seanits FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks Stockholm, crown CLOTH MARKET D NEW YORK, April 21 (Special).— The cotton cloths market showed lit- tle activity today, but the tone con- tinued decidedly firm. Print cloths were quoted at 9% cents for 64 by 60s and 11% for 68 by 72s. The raw silk market reflected the inactivity of Yokohoma, and while quotations remained -unchanged at Monday's levels, the tone was not quite so ard traders and small} ;| BO. REPORTED STABLE G. 0. Walson Reports to Bankers’ Council—Associa- tion Fees Are Increased. BY CHAS. P. SHAEFFER “Deflation of overoptimism,” but no serious impairment of the basic ele ments of prosperity, were the deduc tions of William E. Knox, president of the American ankers’ Association, in summarizing views on the course of business in recent weeks as expressed by bankers gathering in Augusta, Ga., from all parts of the country for the annual executive council meeting of the organization “The consensus ments of prosp hurt by the sett stock exchanges nd there do not indicate cha worse Knox that basic ele have not bee the whea d that events nges for the nditions,” Mr r a general con- dition roptimism, and this has been largely deflated The result is more wholesome and dependable busi ness attitude continued gen progress.” Business Here Reviewed. Washington’s viewed by Geor of the Liberty gate to the mee Washingtor v gov- upward of o outlook Spring E Real estate the past y show no indi, ing operations. business and been plentiful, financial institu point for all ti John B. Washington Joshua S president of Bank, are also meetings. Bankers Raise Fees. An inc fees of th tion was adopted ing of the assoc minimum lev l.the addition: meet an $8,000 raised by an assessment in to the. total resources of « tution the old one, I nu. conv submitted by mittee chair | mittees who | industries relevant to the banking | fession. Trading on Lo Small | the nfajority ocal board, pr ton exchange { changes were tinct trend | Washir off fractic aggregati cal Board. 80%. 80, b brought 342 Bonds attra $2,000 Capital T $3.000 Railway only transactions Peter A Merchants’ ew York on Higher Rates Refused. Increases freight whi, rai make effective last Decer Casper, Wyo., and East { held unreasonable { state Commerce ralroads were given alter the present level of cl rates applying to Casper from Chica- St. Louls, St. Paul, « Sioux City. In la down the commission said that t rates to Casper from Omak ¥ s Irc St. 5 and from Chi on the other classes w proportion; and the make the new schedule July 10. CALL MONEY MARKET FLOODED WITH FUNDS About $160,000,000, From Dodge Sale, Available for Use for Short Time. By the Associated Press. NEW YORK, April ays approxin representing pa Dodge Brothers lo available for market. The cash r of the stock and bond issues is now in the hands of bank tempt to utilize it ment is made to the trust Dodge estate for the automobile prop- erties. This, it is understood, wi form of a single check for $146,000,000, one of the largest ever dra commercial transaction. LEAD PRICES REDUCED. NEW YORK, April 21.—The Amer- ican Smelting and Refining Co. today reduced the price of lead from 7.85 to 7.75 cents per pound Painted Picture a Day. Jean Baptiste Greuze, whose “The Broken Picture’ gained him fame and fortune, is one artist who, it is said, painted a picture a day during the heydey of his popularity. Many great- er artists died before their genius was discovered, but Greuze was almost forced to his intense work by the ext travagance of his wife. Greuze was the son of a Burgundian, and his for- tunes as an artist were also seriously affected by the French Revolution. Wild Turkey Vanishing. Noblest among the birds of which America can boast is the wild turkey, Which is rapidly becoming extinet. Texas and Florida still have several sub-species of the original wild turkey, though these are inbred with domesti- cated turkeys. The birds roam about in flocks or droves of 6 to 15 and choose the well wooded bottom lands as their resting plac Ceded Land Vanishes. In 1787 South Carolina ceded to the United States what was thought to be a strip of land between the south ern slope of the Blue Ridge Moun tains and the Mississippi River. In 1813, however, the exact parallel cit| in the cession was located to be on the south side of the mountain and the ceded strip vanished.