Evening Star Newspaper, April 24, 1925, Page 28

FINANCIAL. SELLING IN WHEAT NEW LINGOLN BANK RESUMED TODAY! STOCK READY SOON Continued Rains Are Boon to|Fractional Shares Created New Crop—Drop in Liv- | by Recent Dividend Are‘Be- erpool, Too. ing Rapidly Eliminated. FINANCIAL. NING STAR, WASHINGTON, D. C., FRIDAY, 'APRIL NEW YORK STOCK EXCHANGE | RALAOADBINDS | [ vome BONDS ok s REACH NEW TOPS ' UNITED STATES BONDS. (Bales are in $1,000.) Sales. High. Low. 2:50. Coppers Advance on Higher Metal Prices—Strength in Stocks Factor. 24, 1925 - TRADING ERRATIC IN'STOCK MARKET Union Pacific Extends Loss in Afternoon—Strong Spots Also Registered. 2:50. 8€% 105% 105% 9415 92 60 92% 81 93% 100% 10T% 88 100 974 69 69 Low. 86% 106% 105% 944% 1% 634 2% 81 $3% 100! 107 83 100 97% 69 69 101% 98 Sales. High. 3 86% 105% Tow. Close. 834 334 104% 104% 114% 115 10% 10% 40% 40% 80 30% 53 B3 2% 12% 238 234 64 64 125 125 88% B9% 18 19 13 113 47 47 % e 32% 32% 23 23 16% Close. y Open. High. 14% 14% Int Com Eng (2). 83% 34 10 10 Internat Har (5) 106% 106% 99% 100% | Inter Har pf (7). 114% 115 13 13 |Int Mer Marine. 11 1% 1% | Int Mer Mar pt.. 424 854 85% | Int Nicke 80% 76% 76% | Int Paper....... 53% 106 106 |Int Pap pfst (6) 2% 1o 19% | Int Ry Cent Am. 48 48 |IntRy CA pf (5) 20% 80% | Int Shoe (5).... 110 110 | (ntTel & Tel 170% 171% | yones Eros Tea. 1184 U18% | jones & Lau (7) 199 199 | Jordan Mot (3). gz 122% | ansas & Guif.. g5 55 |KanCity South 136 136 | Eayser (Jullus). 28w 28% | Kelly-Spring. .. 88% 88% Kelsey Whi (6). 92 8o g6 | Kennecott (3).. s 95 96w | Keystone T& R. N 4 A - Kinney G R (1).. itic 12% 12% e 26% 26% | Laclede Gas (8). 148 o 69% 69% | Lee Rub & Tire. 125 121 121 | Lehizh Val (3%) 77 95 95 |Lica& MyB(19). 587 Lig & My pf (7). 116% Open. High. Low. 14% 14% 10 10 99% 100% 18% 18% 1 1% US Rub 1st rf 5. US Rubber 7%s USSteels f5s. 105% Utah Pow & Lt 6s. 23 Va-Car Chem 7s.. 212 Va-Car Ch T%s w. 46 Vertientes Sug 7s. Warner Sug 7, 39, Warner Sug 75 '41. West Elec 65 Westinghouss Wickwire Spen Willys-Ov 6345 Adv Rumley Ahumada Lead. . Alr Reduct (4) Ajax Rubber. .. Alaska Juneay . . Alled Chem (4). g5% 85 Axl"x'l(fhnlm 8). 1% % AmSChim pe (7) 106 106 M Agricul Chm 19 19% 48 43 1016 1014 1015 1012 1012 1012 101 28 101 28 10128 1018 1016 1016 101 29 101 27 101 27 1026 1023 1025 13 10111 1017 10110 11 10510 1056 1056 FOREIGN. Sales. High. 1 82 .41 96 81 96% 26 102% 38 94% 11 99% 33 86% 14 93% 6 108% Lib 3%s. 62 262 Lib 3d 4%s. Lib4 4%s U S 45 194 US4%s'52. 110 11z 113% 7 118% 118% AmCareF a2 200 200 AmC & F pf (7). 122% 122% Am Chicle .o 55 57 Am Chicle ctfs.. 65 56 Am Express (6). 138 138 Am& For Pow.. 28% 284 Am& FrPopf (7) 88% 88% Am Hide & Lpt. 66 AmIce (1)...... 95 Am La Fran (1). 12% Am Linseed. 2% Am Linsd pf 3% . 69% Am Loco (118).. 1224 Am Radfator (4) 95 Am Ry Exp (6).. 78 Am Safty Rz (3) 64 Am Ship & Com. 10% Am Sm & Ref (6) 924 Am Snuff pf (6). 100 Am Stl Fays (3). 48% Am Sucar! 61 Am Sumatra . % Am Sumatrapf.. 38% Am T & Tel (9). 186% Am Tobacco (7). 924 Am Tobac B (7). 907 Am Tobac pf (6) 106% Am WW&EI 30c. 46% Am W W 1st (7). 1 Am Woolen. . Am Wool pt (7). Am Writ Pap pt. Argentine bs Argentine 6s A.. Argentine 6s B. Argentire 7s Austria 7 Bank of Japan Belgium 6s....... Relglum 63%s wi.. Belzfum 7is Helzium 8s Bolivia 8s. ... Rordeaux 6s. RBrazil 7s. . Brazil T%s Rrazil 8s. . Canada 55 1926, Canada 55 1931. Canada 5s 1952, Canada 5%s 1929. Chile 7s 1943 Chile 85 1926 Chile 8= 1948 Christiania 6s ... Christiania §s. Con Pow Japan 7s Copenhagen 5% Cuba bYs. .. Czecho 83 1951. ... Czecho 851952 ct.. Denmark 6s. . . Denmark 8s D EI5%s Mch '63. DEI5%s Nov'53. Dutch East I 6s°47 3 Dutch East I 65°62 By the Associated Press. CHICAGO. April 24.—With contin ued rainy weather, a boon to the new domestic wheat crop, wheat averaged lower in price today during the first part of the board of trade session. Downturns in quotations at Liverpool tended also to promote selling here May delivery at'Liverpool went to the widest discount vet as compared with July. Chicago opening figures, which showed cents decline, with May, 152 to and July, 139% to 140, were followed by something of a rally and then by another sag. ‘orn and oats were easy, mpa- thizing with wheat weakness. After opening, at 1% cent to 13% cents off, July 1.1 to 1.12, the corn market underwent a slight additional setback. Oats started at % to %a% cents off, | July, 43% to 43%. Later there was little recovery. Provisions were responsible to a de- cline in hog values. WHEAT— Open, High. July i September | CORN— area,BY CHAS. P. SHAEFFER Arrangements for the dist A e distribution Or,mew shares of the Lincoln National Bank to cover the 33 1.3 per cent stock dividend approved on March 10, are bractically complete, and the new gertificates will be issued in the near future, Albert S. Gatley, vice presi nt of the j on, : et ok the " institution. announced But little diMeulty countered thuy, fractional BY STUART P. W] Special Dispatch to The Star NEW' YORK, April 24—Had it not been for the bad break in Union Pa- cific the stock market looked as if it might have done better today than it really did. But the persistent selling of this very important stock at de- clining prices was an unsettling in- fluence which had to be reckoned with seriously. It did not prevent ad- vances in other directions, but it did put a restraint upon the market as 2 whole. Union Pacific Earnings. Union Pacific earned not quite $1 a share in 1924. This apparently wa a liberal enough margin, on the face of things, over the $10 dividend. But since then earnings have been drop- ping again, and more thought has been taken of the formidable compe- tition from the Panama Canal. The March statement W very poor in its comparison with a year ago, net falling off $1,100,000, or 32 per cent. Union Pacific stock below 134 was off over 4 points from where it had started Thursday morning, and this vas a very unusual fall in a similar space of time. Other Rails Depressed. BY GEORGE T. HUGHES, 1 Dispatch to The Star. EW YORK, Apri —Continued strength in high-grade bonds was the feature of trading today. > Demand was particularly insistent “Ifor savings bank railroad mortgages. block of $239,000 Southern Pa- refunding 4s came out at 91%, which the price was advanced which was a new high for this and last. Atchison general ‘ds, for which one sale had been recorded at 91 earlie in the week, bettered price today in volume equaling 8 78 54 B4 | Lima Loco (4) 633 1 H gt bl 28y, | the high of the last two yea New York Central 5s made a new at 10% 8% 1 51 84 844 174 109% 894 16% 146% 108 77 884 274 38% Tk 9% i Wilaon&C oy 7344 nchester A 7145 2 Youngstn s&T s‘f. :g 125"' RAILROADS. AtlanticC L 1st4s. 15 93 Ann Arbords. ... 66% Atchison gen 45 SLA Atlantic C Lcl 48 87% Atlan CL 414664, 92% AtlanticC L7 107 ! 89% 93 88% 1024 103% 108% 88% 100%4 4% £6% 814 102% 17% B0% 101% 103% 89% 974% 17 98 has been far in eliminating the ractio es, Mr. Gatley said Under the plan of a special committee :::!l"n:,—" fo this ork, certain di 4 :«.\ of the institution constitute a phaq)f ;»’L'x-y:r” which pur hages ctio; s from willing holders, resellir them to other frac tional-share thus creating whole certifica Ares are I(%rn‘ exchanged on the prese . 1 o Smenged on the present market level The Lincoln Nat 130 stockholder en 7 top = Long Bell A (1). Loose-Wiles. ... Lorrillard (3) Loulsiana Oil. .. Torillard pf (7). Ludlum (2)..... McIntype P (1) Mack Trcks (8). Mack T Ist (7).. Macy HR & Co.. Magma Copper.. Mallinson & Co.. Man Emd g (5). Manila Electric. Market Street Abundance of Funds. For this strength in first-grade se- curities there was only the accepted explanation of the outlook for money. Time funds were quotably unchanged today, but the supply was said to be greater than the demand. Second grade bonds were almost as much in demand as_the led legal class All the St. Louis-San F neisco issues were firm at their best recent prices, with particular activity in the prior lien “A" 4s Seaboard Air Line adjustments and Canada South 5s. . Canad North 63s. Canad Pac deb 4s. . Car Clinch & O 5s. Centof Ga 6s. Central Pacifi Ches & O cv 4% Ches& O gn 4148 90% Ches & Ocvbs.... 11 103% Chi & Alton 335, . 52% Chl & Alt 3%s ctft., 51% 4]l numbers about all but four of whom have expressed a wish relative to dis- position of their fractional shares Two of these reside in Nov Eren e Elected Bank Auditor v % Audley A. P. Savage t T cially elected auditor of the o 73 Savings & Trust Co ) Mr. Savage has been with his pres 46 o1 40 9% en offi % National 36 The selling of Union Pacific had a depressing effect upon other rails, which are interested acutely in the competition of the Panama Canal. Northern Pacific and Great Northern preferred were persistently sold, while it was only the short interest ap parently ich kept Chicago and Northwestern steady as it held On the other hand, the weakness in the transcontinental rails did not extend to other members of the group. Reading went up over a point in re sponse to merger rumors. Baltimore and Ohio was strong for a time. St Louis-San Francisco continued to an- ticipate a dividend increase. The Sea board Air Lines, dooking forward to record earnings on account of the prosperity in a, were in demand at rising pri ommon above 24 and the preferred above 40. Utility Stocks Feature. Public Urility stocks were a f especially the shares of companies terested in the Greater New Yor litical situation. The re was regarded as favora market standpoint, and Con: s drew close to 80 on large trading, while Brooklyn-Manhattan Transit and Interboro; Rapid Transit were strong on word that the surface lines of Manhattan would be out of re ceivers’ hands on May 1 had a senti. mental influence. Other public utilities that came in for attention on advancing prices were American Water Works, West Penn, Manila Elec, Standard Gas and Phila- delphia Company. Two Favorable Reports. The International Cement Corpora- tion prod d its formal statement of earnings of the year 24 and the Mathieson Alkali made known the re- Bsults of its first quarter business to- day. Both reports were favorable. Cement earned $7.13 a share on its 400,000 shares of no par common in 1924 against $6.37 a share on 364,167 shares in 1 Mathieson Alkali’s net income in the first quarter equaled, after charges and preferred dividends, $2.30 a share on 141,257 shares of no par common. ure, in po- this from lidated on bl news Chrysler Rumor Denied. The gossip in connection with the buving of Union Bag and Paper in- cluded dividend talk. The company was paying 6 per cent annually on its capital stock until October, 1924, when payments were suspended. Earnings since have improved. The rumor that General Motors in- tended to buy Motors _and make Waiter ysler head of General Motors was discredited to- day in banking quarters which have been identified with Maxtvell. How- ever, the report persisted, although it is unlikely, that any important buy- ing of Maxwell was done on the strength of it. CLOSE IS UNSTEADY. P Short Covering Operations Help Cast Iron Pipe. By the Associated Press. ZB NEW YORK, April 24 —Uneven price movements characterized today’s relatively dull Stock Market. Steady absorption of several public utilities and specialties which were bid up to new high for the year contracted with the weakness of Union Pac and Northern Pacific, which established new 1925 low records. Total sales ap- proximated 1,000,000 shares The closing was irregular. Short covering operations were believed to be largely responsible for 2-point gains in United States Cast Iron Pipe, Fisk Rubber first preferred, Pittsburgh and West Virginia and Southern Rail in the final hour. Maxwell B, how dropped 3 points, and in Commer Solvents issues. WEEKjLY COTTON REPORT. RPOOL, April 24— W eekly Total forwarded to mills, | of which American { 937,000, American, 81,000; American, 59 5.000; American, 3,000. statist 80,000 b: 000; 000 000; impor CLOTH PRICES STEADY. NEW YORK, April 24 (Specia Cot'on goods markets had another quiet session today, with prices un- changed. Print cloths were quoted at for 64 by 60s and 11% for 6 Raw silks were slow and unc 72s. anged PARIS BOURSE }IRM, PARIS, April 24—Pri were firm on the Bours Three per cent 45 francs centimes. E: change on London, 92 francs 35 cen- times. Five per cent loan, 56 francs 20 centimes. The dollar was quoted at 19 francs s earned $2.30 a s common stock in the first of 1925, after allowing for dividends, in contrast to hdre in the first quarter . Net income jumped to $375,- om $82,118. Total earnings in- creased to 788, compared with r ‘ago. LEAD OUTPUT LARGER. NEW YORK. April 24.—The world production of lead in the first quar- ter this year is estimated at 313,849 tons, against 5 in the same period last year. March output was 110,555 tons. on the quarter preferred LIVE POULTRY LOWER. CHICAGO, April lower; fowls, 28: 4.—Poultry, alive, prings, 33: To Anaconda (3). Ann Arbor pf Archer-Daniels. Armour L A(2). Armour Del (7). Asso Dry G (5). Asso D G 1st (6). Aeso Ol (13) AtT &S Fe (7). AT&SFopf (5). Atl Birm & At. Atlantic C L (T) AtGulif & WI.. At Gulf & WIpt. Atlas Tack. . Baldwin L (7). Eal & Ohlo (5).. Eang & Ar (3). LarnsdallA. ... ayuk Clgar. .. Beech Nut (2.40) Bethlehem Steel Eeth Stl pf (7). Booth Fisheries. Briges M(g(31%) Bkl Edison (8). £k1-Man Tran. Bkl-Man T pf (6 8kl Unjon G (4). Erow~ Shoe (4). Bruns-Balk (90¢) Burns Br B (2) Bush Trm pf (7). futte Cop (500). Butte & Su(50¢) Butterlck Co. ... ado Central. . Cal Packing(6). Cal Pete (1%).. Calif Pet pf (7). Callahan Zine. . Calu & Ariz (2). Calumet & H : Can Pacific (10). 141% Case Threshing. 28 Case Thresh pf.. 70% Cent Leather. 16% Cent Leather pf. b4% Century Rib (2). 28% CRRNJ (112).. 215 Cero d Fasco (4) 46 Certain-Teed... 43% Chand Mot (3).. 34% Ches & Ohio (4). 91 Chi & Alton. . 3% Chi & Alton pf.. 6 Chi& Est 11l pf. 44 Chi Great West. 10% Chi Gr West pf.. 224 ChiMil&StP... 4% ChiMil&SPpf. 8 Chi & Nwn (4).. 49 Chi & Nw pf (). 105% ChiPneuT (5).. B4% ChiRI&Pac... 43% CRI&PDI(T). 94% Childs (12.40)... 52% Chile Cop (2%). 32% Chino Copper.., 19% Coca-Cola (7)... 100% Colo Fuel & Iron 35 Colo Southern... 61 Col G & E (2.60). 56% Col Carbon (4).. 47 Com Solv A (4).. 106 Com Solv B..... 112 Congol-Nrn (3). 29 Consol Cigar.... 28 Con Distributrs. 5% Consol Gas (5).. 79% Consol Textie.. 34 Cont Can (4) . 2% Cont Insur (6).. 108% Cont Mot (80c).. 9% Corn Prod (2) 37% Crucible Stl (4). 66% Cub Am Sug (). 28 Cuban Cane Sug Cub Cane Su pf.. Cushmans (3). Cuyamel Fr (4). Cuyamel Fr ris. Davison Chem. . Deere pf (3).... Del & Hud (9).. D&RG Wstpf. 387T% Detroit Ed (8).. 1164 Dodgs Bro pf wi. 100 Doug Pectin (1). 16% Dul SS & Atlan. 2% Dul S8 & Atl pf. 4% Dupoat (10).. .. 145l Duquesne pf (7). 107% Eastman (18)... 109% Elec Power ctfs. 17% EIP & Lt 40% pd 101 Elec Str Bat (4) 63% Emmerson B pf. 10 End-John (5) 65 Erie.... Erie 1st pf. Erie2d pf..... BExchange B (1). Famous P) (8).. Fed Lt & T (7). Fed Mines pf (1) 514 Fisher Body (5). 67% Fish Bd O pf (8). 108% Fisk Rubber.... 14% Fisk R 1st (1)... 85 Fleischmann ) 79 Foundation (8).. 110% Freeport-Texas. 10% Gen Asphalt 49% Gen Cigar (8) 90% 83 20% 904 184% 98 85 120% 111% 73% 414 22% 40% €6 414 94% 4% 87 130 40% p+ 39 18% 99 5% 1% 17% 1054 33 954 150% Gen E1 spl (60c). 11% Gen Motors (6). 3% Gen Mot pf (7). 105% Gen Petrol (2).. 5l% Gen Refrac (2).. 44% Gimbel Bros 48% liaden Co 16% Gold Dust. 89% Goodrich . 62% Goodyear pf (7). 96% Gayear prior (8) 104 Granby Consol.. 14 Grt North pf (5). 60% Gt NorOre (1).. 27% Grt wstn Su (5). 98 Greene Canan... 12% Gulf Mo & Nor.. 26% Gulf St Steel (5). 69% Hartman (2%).. 26% Hayes Wheel (3) 85% Hays W pf (7%) 103% Homestake (17). 43% House P (13%) 35% Houston Oil.... 604 Hudson Mn(Z%) 29% Hudson Mot (3). 58 Hupp Mot (... 17% Illinols Cent (7). 1184 Independ Oil (1) 25 Indian Motorey. 14% Indian Refining. 7h Ingersoll R (8).. 236 Inland Stl (2%). 40 Inspiration Cop. 23% Interb Rap Tr... 18 106 25 17 236 40 24 ers, 153%; turkevs, geese, 18; broilers, ducks, 30; Int Bus Mac (8). 118 118 Int Cement (4).. 59 94% 4l 37% 37T% 130% 42% 40% TT%3 TT% 831 83 7488 39% 89 18% Gen Electric (8) 268% 268% 114 78% b1% 445 48% 17% 39% 52% 60% 17% 113% 84 19% 59% 51 33 20% 90t 183 93 35 120 95% 4 163% 41% 44 1% 110% 8% 41 22% 40% 66 40% 944, 4% 130 2% 18% 274 94% 12% 27 6% 28 35% 103% 43% 36% 60% 80 51% 17 112% 24% 16% 8% 236 40 23% 19 118 69% Market St pf.... Market St prior. Market St 2d p Marland Ofl..... Mathieson Alka. Maxwell Mot A. Maxwell Mot B. May Dept,St (5). { Metro G pt (1.89) Miami Cop (1) Mid-Continent. . Mid-Cont pf (7). Middle States. ... Midind Pr pf (8). Minn & St Louis. Mis Kan & Tex.. MK &Tpt (5).. Missour] Pacific. Montgom Ward. Moon Mot (3)... Mother Lode 75¢ Motor Whl(76c). Nat Cloak (4) Nat Dafry (3). Nat Dpt Stor. . Nat Distillers. .. Nat Distillers pt Nat Enamel & S. ‘at Lead (8).... at Ry Mex 2d.. at Supply (3). O Tex & M (T) Nwpt U Gas (5). N Y Canners (2) N Y Central (7). NY C&St L (6) N Y Dock....... NY NH & Hart. . NYOn & Wn (1) Niagar F pf 1%. Norfolk South. . Nort & West (7) North Am (3.40) North Am pf (3). North Pac (5)... Orpheum (1.80). Otis Elevator (6} Otis Steel....... Owens Rot (3) Owens Bpf (7). Pacific Gas (8).. Pacific Of1 (2). Packard (11%). Packard pf (7).. Paige-Detroit. Pan-Amer () Pan-Amer B (6) Panhandle. ..... Penick. Pernsy RR (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4).. Pere Mar pf (5). Phla Co (4). Phila&RC &I, Phillips Pet (2). Plerce-Arrow. . Plerce-Arrow pt Pierce OIl. Plerce Ofl pf. Pierce Petrol. Pitts Coal. .. Pitts Coal pf (6) Pitts Ut nf t1.20. | Pitts & West V. Postum-Cer (4) Pub Ser N J (5). Public Serv rts. PubSElpf (7).. Pullman Co (8). Punta Al Su (5). Pure Ol (1%4). Radlo Corp of A. Radio C pf (3%) Ry Stl Spg (8). . Rand Mines 1.71. Ray Cons Cop... Reading (4)..... Reading st (2). Reading 2d (2).. Remington Type Replogle Steel. . Rep It & Steel.. Reynolds Sp (1). Rey Tob B (3).. Rossia Ins (6).. Roy Duth 4.42%. Rutland pf..... St Joseph Ld (2) St L & San F (5) StL SanF pf (6). St L Southwest. StLSwr pf (5). savage Arms Schulte (*8). Seaboard Air L./ Seabd Alr Lipf. . Sears-Roebk (6) Shattuck FG (2). Shell Un (1.40).. Shell Un pf (6).. Simmons Co (2). Simms Pet (50¢) Sinclafr Ofl. . Sinclair pf (8) Skelly Oil.. Sloss-Sheft (6) South Pac (8)... Southern Ry (5) | South Ry pf (5). Spicer Mfg. 5td Gas & B 4G & E1pf (4) St 0l Calit (2) StolNJ (1) StOIINJ pf (D). Std Plate Glass. Sterling Pr (15). Stew warnr (6). Studebaker (4). Submarine Boat. Superfor Ofl. Symington. Symington A (2) Tennessee Cop Texas Co (3). Texas Gulf (7) | Tex & Pacific. Tex & PacC & O { Third Avenue. | Tide Wat Oil ( Timken R B (14) ‘Tobac Prod (6) . Tobe Pra A (7). Transcont Oil... Underwood (3). Un Bag & Paper’ Union OIl (1.80) Un Pacific (10).. Un Pacific pf (4) Un Tank Car (5) Utd Alloy Steel. Utd Cigar (13%) United Drug (6) Utd Drug 1st 3% Utd Fruit (10) Utd Ry Inves Utd Ry Inves pt. U S Cast Iron P. U S Distributing U S Hoff (2).... 29% 36% 136% 73% 122% 25% 67 121% 531 213% 27 68 137 2% 29% 73 | 3% | 461 70% { expenses, | Alum. Ce the same road’s consolidated 6s were both very on this recovery strong. and Eastern Tllinofs So 6. Leaders Among Tractions. In the tr a point and way dinary per cent strength ctions the Interborough obligations. and a half to made _in the refunding note: S were heav: the were Chleago 5s at a new high Lcross leaders were ains of points were s and in the 6 Chicago Ralil- Extraor- again was shown by ‘arolina Chemic 92 for Writing over 2 points. Paper the fi 6s_at The Iy Vir- 1 78, which sold time this year. There was some buying of American an advance of warket for foreign bonds falled to reflect concern over the reports om the Balkans. Illustrating the ease in the money market was the offer of $5,000,000 State of South Carolina 314 per cent tax anticipation notes m: from January 6 at prices to yield from 3.55 to Iy 19. 3.60 per cent uring serial. to April 14, SALT CREEK'S EARNINGS, NEW eiation 1923, or equal the capital in 1923 or $4.60 dends of the vear the year before. stoc YORK, April |come of the Salt.Creek Producers' 4 from duction in 1924 a $4.60 oil mounted to $6,268,- and a share. to $4.18 K, a s re. —Net gas Cash a share on against in- pro- divi $6,858,490 a Cash divi- 8.859 were paid during compared with §2 RATES'ON BAR SILVER. silver, 31 LONDON 1-16 per oun Discount rat per cent April 24— Money, 37 per cent. E Short bills, 4 3-16a 4% per cent; three-month bills, 4 5-16 NEW YORK, April 24.—Bar silv 66%; Mexican dollars, 51%. S WOOL TRADING DULL. April BOSTON, changed in Who were w much business. price 24 in (Special). mestic wools. continued general - ch the Summer street markets today. but only dealers Lower Sydney continued to have their effect ion foreign wools here. illing to shade prices got prices in NEW YORK EGG PRICES., W YORK, April 24 —Eggs firm- e i receipts, 46,893 cases fresh g: th- ered extra firsts, 30a301%: do., storage packed 303134 do., firsts, 2814 do., storage packed, 30a30%: nearby hennery whites, closely selected ex- nearby tras, W, 36a37; Adirond, P. & L. C American” Sugar s Amer. Tel. & Tel Anaconda Copper Angl, of Amer. nearby stern hennery average extras, 32a3s. and whites, firsts SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ———Noon.—— Bid. 68 1 1 65 1 Os 19 Amer. Oil 71s 1095 . Associated Oil s 1033 Baltimore & Oh: Bethlehem ‘Steel Federated Metals 7« 1939, . odyear T. & R. 8% 1031 Great Northern 7s Gulf 0il Cor Hock. Val. R.R. Humble Oil Lehigh Pw. Sec. M. St.P.&S 7% Morrig & Co. 1936, New York Central s 1935 Oregon Short Line 4s 1020 Penna. R. R Pure 0il 5 Swift Tidewater o : ac ion Tank 1 Rubber 7% & 1930 1930 64% | Westorn Union 634s 1036, Westinghouse E. & M. 7s '31 108 24% 404% 153 49 23% 101% 354 22% 18% 88% 231 2% 103 89 85% 18% 5% 52 59 1% 18 1% 63% 61% 5% 8% % Pa. 53s 1028 Car 75 1830. . . to Ofter. SSE5525552 25333852 SEERE 3 228 * SErE S55523055033! SEFRS3533333, 553 J S Ind Alcohol. SReally (8).. S Rubber. ... S Rub 1st (8).. U S Smelting (3) USSmpf (3%). U S Steel (17)... U S Steel pf (7). U S Tobacco (3). U S Tob pf (7). Universal Pipe.. Univer P pf (7). Utah Copper (4) Utah Securities. Vanadrum. . Va-Caro Chem Va-Caro Ch pf.. Va Ry & Power. Vivadou. Wabash........ Wabash pf A(5). Wabash pf B. Waldorf (1%).. ‘Ward Baking B. Ward Bak pf West Elec pf West Pen (4) West Pen pf (7). West Maryland. West Md 2d pf. . ‘Western Pacific. West-Union (7). Westinghse (4). u U U U 5 (O] White Eagle (2) White Mot (4).. Wilson & Co.~ . . ‘Wilson & Co pf. Willys-Overld. . Willys-O pf (1)« Woolworth (3) ‘Worthington. . Worthtn A (7). ‘Worthton B (6) . Wright Aero (1) Youngstown (4) *0dd lots. fPartly extri Dividend rates 85% 137% 4% 94% 34 44% 114% 1235 b2k 108 29% 69 84 81 27 " 18% 974 14 21% 62% 424 16% 88% 934 116% 110 96 124 18 86% 134% 6814 84 69 18% 65 1Payable in s given in tl 851 187% 69% 81 27" 4% 19% 100% 4% 21% 62% 42% 16% 38% 100 116% 112 96 124 1s 36% 134% 68% 104 12% 26 61% 6% 20 164 92 121% 47% 84 89 18% 65 are the annual cash payments Intest quarterl; Unless otherwise noted, dividends are not included. 1233, 521 108 29% 6815 84 9% 27 % 18% 7% 14 21% 62 424% 16% 88% 99% 116% 110 96 12 18 36% 130 67% 10% 12% 26 61% 6 18 15% 90% 120 45% 84 69 18% 65 te preferred » 2 & or half-yearly declarations. extra er epeclai 1 Salvador 8848, Inland s f 65 '45.. Framerican 7% French 7s French 7% French ... . Ger E1 61550 wi. ierman 7s.. r Gen Elec 78 ireek 7s.. Halti6s. . Holland-Amer 6 Hungary 6%s. Japanese 4 Japanese 6% sergens U M 6347 10 rsellle 6s...... exico 45 '04 asnt. 89 Netherlands 6s54.116 etherlands 6872 Norway 65 1943. .. Norway 6s 1944. Norway 6s 1952. Norway 88 : Orient Dev deb 6s. Paris-Ly's-Med 6s. Paris-Ly's-Med Paris Orleans 7s.. Peru 88 Poland 8s "50 wi Porto Alegre 8s Prague 7% Queensland 2o de Jan 8s 1 Rio de Jan S8 1947. Rio Gr Do Sul 8s. . Sao Paulo City 8s. Sao Panlo State 8s S Paulo St 8s wi. Seine Dept ef 78 Serbs Crot Slo i Sofssons 6s. . Sweden 5lsct. Sweden 6s. . 5 Swiss 5145 1946... 25 Swiss Confed 83 Ud Kingm 514529 Ud Kingm 6%s'37 Uruguay 8s....... MISCELLAN Ajax Rubber 8 6 A o 18, Am AgrChem5s.. 1 Am Agr Chem 7%s 12 Am Repubdeb 6s.. 2 Am Smit & R 1st 5» 21 AmSmit&Rés... ? Am Sug ref 6s. 10 Am T& Tcltrds.. 44 AmT& Tcltrbs.. 3 AmT&Tst5s...313 Am T & T deb 5%s AmT& Tcv 6s. Am Water Wks 6s Am Writ Paper 6s. Anaconda 1st 6s Anaconda cv db Andes 7s Zo% pd.. . . Armour & Co 4%s Armour Del 6%s. . Associated Oil 6s. lhAtlantic Refin 5s.. Bell Tel Pabs.... Beth Steel pm Bs. . Beth Steel 5%5°53. Beth Steel s £ 63 Brier HSt 1st 5%s Bklyn Ed gen 5s.. Bklyn Ed 6s B. ... Bklyn Union G bs. Calif Pete 634s.... Cen Leth 68745 cfs. Chile Copper 6s... Col Gas & E1 5; 1 ColGs & El5ssta. |1 Commonwth P 6s.. 14 Con Coal Md 1st bs 12 Con G NY 5%s wi. 90 Consumers Pow 53 12 Cuba Canecvd 8s. Cuban Am Sus 8s. Denver Gas §s.... Det Edlison 5s '40. Det Edison ref 6s. Dodge wi 6s. Donner Steel 7s Du Pont de N 7% Dugquesne Light 6; Est Cuba Sug 7%s Empire G&F 7%s. Goodrich 6%s. Goodyear 8s 1931. Goodyear 85 1941. Hershey 65 1942 Humble O&R 5%3. Ilinois Bell 1st &3. Iilinois Steel 4% Int Mer Marine 6s Inter Paper 68 47 K C P& Lt 5sA’52. Kan G & El 65 '52. Kelly-Spring 83 Laclede G 5%s '83. Liggett & Myrs 78 Lorillard (P)7s. .. Loulsv G & E 55'52 Magma Cop cv 7s... Manati Sug sf 7%8 Midvale Steel 68 Montana Pow 6s.. Mor's&Co 1st 4%3 New Eng Tel 5a. .. N Y Ed 5844 wi N Y Edenlst 614 NYG EL H&P 43 N Y Tel 4%s. N Y Tel 6s'41. NY Tel 6549 North Am Ed 6 North Am Ed 6%s. Nor Ohio T&L 6s. . Nor States Pow 6 Nor States Pow 61 Otis Steel T%8.... Ppacific Gas & El 68 pac T & T bs'52... Ppan-Amer Pete 65 Pan-Amer Pete 7s. Phila Co 5%s’38.. Phila Co ref 6s A Phila & Rd C&IL Pierce-Arrow Pierce Oil deb 8: 19 Public Service 5 Public Service 6 Pub Serv Elec 6 Punta Alegre Reming Arms Rep It & Steel Saks & Co 8 Sinclair Ol 6 Sinclair Oll 63%s. Sinclair Ol 7 So Por Rico Sug 7s Southwest Bell 6s. Tenn Elec Pow 6s. Tide Wat Ofl 6%s Toledo Edn 1st 7s, Union Bag & P 6s. United Drug 6: 101% 87% 944 53% 84% 56 84% 82 59% 103% 101% 113% 116% 106% 109 EOUS. 59 101 100 9644 98 107 103% 974 29 101 9% 964 9748 107 103% 974 100% 95% 1023, 129% 941y 3 99% 100% 94's 874 92 102% 994y 101% 90'5 854 94 99 100% 105 100% 10314 100 105 100 4 100% % 100% 84% 102% 95% 993, 108 934 100% 107% 99 90% 107% A 105% 105% 103% 105% 105% 120% 103% 10i% 100 94% 88% 889 9814 96% Chi B&Q gn 45 '58 Chi I&Q 1st rf 6s CB&Q-IIl 3%s CB& Q-Olldiv4 Chl& EIgn bs. Chi GreatWast 4 CM & Puget Sa CM&StPdg’28. CM&StPab4 CM&SIP n 4s'85. StPev4ys. F!\(&Slpgn(?&a CM&StPrrays CM&StPevs 193 4 11 26 24 Chi Un Sta 4%s. Chi Un Sta bs. Chl Un Sta 6%s. Chi& W Ind cn 4 C& WI5%s'62. COC&StL4Ys CCC &St LSs. .. CCC&St L rf s A. Colo & Sou 4% Cuba R R Ths. Del Hud cv 53 '35 Del & Hnd 5%s. ... Den & Rio G cn 4s D & R1o G imp 5s. D & Rio G Wt 6 Des M & Ft D 4s Det United 4%s. Erle 1st cons 4s Erte gen 4s Erle conv 4s A. Erie conv 4s B. te conv4sD. ... ie & Jersey 6s. . Erfe Genessce R s Gr Trunk sf db 6s. Great North 5s. Gr North 5%4s. . Gr North gen 7. Green B & W db B. Hud & Man aj 5s 111 Central ref 4s. 111C-C St L&NO 58 22 D Tr 5s stpy int Rap Tran 6s. Int Rap Tran 7s. Int & G Nor 1st 6s. Int & G Nor aj 6s Iowa Cent 1st Kan City Ft § 4s. Kansas City S 3s Kansas City S 53 Lake Shore 45’28, Lake Shore 4s°31.. Lehigh Val 5s 2003 Louis & N uni 4 Louis & NG5sB Mannat &y cn 4s. Market St Ry 7 MilElRy & L6 M & St L1st rf 4s.. M StP & SSM cn 4s M StP & SSM cn s, M StP & SSM 5% M StP & SSM 6% MK & T 1st 4 MK&T4sB. MK & T adj b MK&Tprinss A Mo Pacific gen 4s.. Mo Pac 58 1926 Mo Pacific 5s Mo Pacific 6s. . Montrl Tm 1st 5s.. NOTex& M in5s. 19 NOTex &M5sB.. NOT & M5%s N Y Cen gen 3%s. . N Y Cent cn 4395, N Y Cent deb 4s. N Y Centri5: 37 Y Centdeb 6a.. 173 Y Cent LS cl3%s 5 YC&StLdb4s. R NY Chi & St L5%s 27 NYC&tL6sA New Hav d 4s'57 New Hav c d 6s. NY.Ont W 1st 48 New York Ry rf 4s NY Ry rf 4s ctfs.... NY Rys adj s ¢ N Y State Ry 4 NY W & Boa 4%s Norfolk & W cn 4s. 17 Norfolk & W cv 6s. 21 Northern Pac3s... 2 Northarn Pacss D 7 Northern Pacr16s § Ore Short Liref 4s. 25 Ore Sht L cn 5346, 29 Ore-Wash 1st rf 43 22 Pennsyl con 4%s.. 10 Pennsyl gen 4%s.. 11 Pennsyl gen § 23 Pennsyl 58°64. 12 Pennsyl 6% 19 Pennsy gold 7s... 6 Pere Mrq 1st 48’56 5 Pere Mara 1st 5s.. 36 Por RL &P 68" 1 Reading gen 4%s. 3 RIArk &L 4% :2 st L IM&S 48 '29. 3 St L1M&S R&G 48 80 170 StL&SFplisA. 170 3 9 4 35 33 9 N N N 5 Southern Southern Ry 68 ct. Southern Ry 6% hird Ave ref 4 ‘Third Ave ad) b3. Toledo Trac 6 Unlon Pac 1t 4 Union Pac 1st I 48 Union Pac 27.. Union Paccv virginia Ry 1st 5s. Va Ry & P 18t & ‘Wabash 1st 58 Wabash 24 58 ‘Washash 5%, Western Md 45 Western Paclfic 55 West Shore 1st 4 Whe! & LE rf 4%4s Wilkes B&E 1st §s 5 1 91% 101% 86% 94 7614 62% 449 464 b 8% 45% 83% 454 45% 1024 1007¢ 9514 104% 60% 97% %8 20 B2% 66 jdown from the initial highs. July September . YE— M 2 Ju September ARD— May ... July ¢ September COTTON QUOTATIONS | ARE AGAIN LOWER Further Reports of Rain in South- west Keep Many Traders | Selling. By the Ascociated Press NEW YORK, April 24.—The cotton market was again influenced by pri- vate rain reports from the Southwest during the early trading. The open- ing was barely steady at an advance of 2 points to a decliné of 7 points. near months being a shade higher on relatively steady Liverpool cables, but the general list soon eased under local, | Southern, Western and Wall Street | selling, inspired by reports of further relief from droughty conditions in Texas. July broke to 24.39 and Octo- ver to 24.09 before the end of the fivst hour, representing net declines o1 10 to 11 points. A better trade de-| mand developed as prices approached | the 24-cent level for October and| there was considerable covering for over the week end. New Orleans Quotations. NEW ORLEANS, April 24. —The cotton market opened steady, first trades showing gains of 2 to 3 points, which were increased 2 points after the call. The improvement was due to better Liverpool cables. Prices eased off on private advices of rains at many points in north Texas. July worked down to 24.42, and October to 23.76, or 16 to 19 points Accord- ing to official news, cooler weather is coming in the wake of the rains. NICKEL PLATE'S GROSS DECLINES IN MONTH By the Associated Press NEW YORK, April 24.—Gross rev- enues ew York, Chicago and St. Louis (Nickel Plate) declined in March to $4.604,142 compared with $4,904,579 in March last year, but sur- plus after charges showed an in crease of $48,336 to $750,291. The first quarter’s surplus was $1,581,023, against $1,209.415 a vear ago. The pamphlet report of the Nash. the road earned §1 a share on the capital stock in 1924, compared with $10.18 a share in 1923. Net income increased to $1.955,509 from $1,628 1805. urplus after dividends was $835,509, agai 508,805 the year be- fore. ™ INEW ADVENTURE IN COAL | GOES ON TRIAL IN WALES ‘Managers and 700 Workmen to Operate Colliery, Which Own- ers Proposed to Close. Correspondence of the Associated Press. RUABON, Wales, April 6.—Trade union and industrial circles of Eng- land are watching with interest a new adventure in coal mining in the case of the Vauxhall Colliery, at Ruabon, which has been taken over and is to be operated by the managers 2nd 700 men entirely independent of | the owners. The men decided to take over the business when it was announced re- cently that the plant was ta be closed because the owners had been losing heavily financially for many gonths. The experiment will continue for three months. . CHICAGO LIVE STOCK MARKET CHICAGO, April 24 (United States Department of Agriculture.—Ho, Recelipts, 21,000 head: stead; lower; packers bidding 10 to 15 lower on medium and heavy weight butch- ers; bulk good and choice 160 to 2 pound averages, 12.15a12.25; top, 12.30; bulk 240 to 350 pound butchers, 12.00 al12.15; 140 to 150 pound weight, large- 1y 11.75a12.10; bulk packing sows. 10.60210.85; majority 110 to 130 pound killing pigs, 11.50a11.75; hes\’)flwo!g!\l hogs, 11.90a12 medium, 12.05a 12.25; lights, 11.85a12.30; light lights, 11.50a12.25; packing hogs, smooth, 10.70a11.00; packing hogs, rough. 10.40 al10. slaughter pigs, 10.50a12.00. Cattle—Receipts, 2,000 head; hardly enough fed steers here to establish a market; generally stead to strong; quality considered; bulk. 8.75a9.75; few loads 10.00 and better; values on com- mon and medium grade practically as high as a week earlier; she stock un- even; fully steady; few choice cows or heifers here; bulk light heifers, 7.50a 9.00; fat cows, 5.00a7.50; bologna bulls, 4.75a5.15; vealers averaging 120 pounds and better in active demand at firm prices; light kinds neglected at 8.00 downward: selected handy-weight veal calves upward to 10.50. Sheep—Receipts, 15,000 head; fat lambs mostly stead: choice handy- weight, 15.00; good to choice, 85 to 95 pound welght, 14.25a14.75; weighty throwouts, 12.50; choice 76-pound clip- pers, 12.50; good to choice 58 to 70 pound California Springers, 16.25; four cars straight; one car with 30 out;:fat sheep and shearing lambs steady; good | Junior offic | ville, Chattanooga and St. Louis shows | ¢ | Yerke: | Chaney, J ent year: institution for ap) He, - like the I personr is a graduate of Chapter, American Institute of ing Milton ¥ Riggs Natio today for home, Bolivs eights, n Ferry. He will return’to active ¢ on June 9. tely 15 the Ailes, al Ban president of . left Washin, Trading on Local Exchange. s session on the V xchange was dull teresting. Norfolk & Steamboat Co. sold tc of 10 shares at 249, and ( tion surmounted t reached 93 on two sales a 13 shares. This is the highes reached by the security in aler and Lanston were both . 180 and 80 Mort and preferred and Riggs maintained firm levels, The bond list w hin and Investment onal Bank 1% and 343 s neglected Chaney to Head Institute. Jesse Chaney of the Commercia 1 Bank was unanimously n ted for the office of president of District Chapter of the Ame: stitute of cial meeting in asonic Temple tallation of officers will t. May 14 Other nomination for which th Hunton Commerc ph D. d Robert non Savings Ban dent; Garrett M National: William tional Metropolita Roberts, Northea: Alfred W rity and Trus hington Loan John Hillyard, can t a spe apter rooms on and in- place on e offices American, nt Ver- William secre- American Mason, st, and Bank of r: Elmer O'Hara, and Ells- , as- Dis- and Seventh worth Moyer, sistant secret t National Hibbs & Co., The term of three members of the board of governors ends this vear and to fill these vacancies were nominated Harold W. Burnside, retiring pres. lent of the chapter; George M. Ire n, Riggs National; James . Dulin jr. American Security and T Miss Catherine M. Krieg. Rigg tional, and John T. Fletchall, Potc Savings Bank. Delegates to Convention. The following members of the chapter were elected as delegates to the national convention of the Amer- ican Institute of Banking at Kan v, July 13-17 Florence M Willer, Barrett, Catherine M. Krieg M. Irelan, W. E. Bolls, Beveridze, Charles D. Bover, H. J Seeley, Wilmer J. Waller, Joseph D , Harold W. Burnside, R. Jesse F. B. Goldn Arthur C. ames M. Mason, Mabel Royce, James (. Dulin, . Alfred W Sherman, Frederick P. 11. Siddons | H. M. Turner, Mildred ¢ A E. Henze, T. Hunton mond P. Lochte, Joshua E. J. McQuade, Helena James M. Soper, Laila H Louis FEckloff and Clarence Schatz. Harriet M George E. D. Doving Leith, Ray Evans, D. Reed Sloat, C. F. . DIVIDENDS. Pe- riod. Rate Q Stk Corp. Payab) Am_Roll Mills. Do. Do._pfd Beth St] 8s pfd. Do. 7 o Cent R R N Chem Nat Bk B-) Hart § & M.. Jerees_ Cent. .S L of W Miliing Do. pfd._ Leh C & Nav Pac Lighting... Do. pfd Pure il Prod O C pid Do. com_. Init Shell Un Oii. . Stand Milling Do. pid.. 0000000000, Corporation. Date i —Burns Bros. April 2 April April April prior pf. - GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Ger Gt (win) bs 1914-18 140000 145 Hamburg 4%s 1019 .. 20000 2 Ger Gt 4-58 (forced loan) ~14.00 (Quoted_in_dollars per thousand Ger Gen El 4348 pre-war. 20.50 Ger Gen Elec 345 1919 2.00 Berlin 4s pre-war. ...... Ham 3s. 3148 & i pre-w Hamburz Amer Line 4135 North German Lioyd §%s North German Llovd Prussian Consols 3% 8 Erupp bs 1921 Dusseldort 4& pre-war Frankfort a-M 48 pre-war Munich 4s pre-war : Badische Anilin... .. AE G (Ger Go Eleci . Commerz and Privat Bank Disconto Gellschait Dresdner Bank..... Deutache Bank Darmataedter Bank Mereur Bank Vienna DAIRY PRODUCTS. BALTIMORE, April 24 (Special).— Live poultry—Young chickens, pound, 25a38; rough poor stags, 25a27; Winter chickens, 45a50; Springers, 50a60; Leghorns, 45a52; old hens, 24a32; Leg horns, 24a26; old roosters, 16al7: ducks, 18a26; pigeons, pair, 50; guinea. fowl, each. 50a1.00. Esgs—Receipts, 1,313 cases. and nearby _firsts, dozen, offered duck eggs. dozen, 30a32. Butter—Good to_ fancy, pound, 42a marks.) 2200 3.00 11.00 Native 28; medium-weight ewes, 8.25. Caterpillars usually have 16 legs and 12 eyes. 47; prints. 47a49; ladles, 29a30; store packed. 23: dairy prints, 23a25; rolls, 23a25; process butter, 32a33, - ik '