Evening Star Newspaper, June 4, 1925, Page 30

FIN STOCKS SELL OFF IN LATE TRADING Market Nev;s' Considered Depressing—New Highs Earlier in Session. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, June 4.—The stock market today in the main drifted downward. In many instances prices slipped off 2 to 5 points from Wednes- day's highs, and this condition was scarcely offset by a smaller number of new high records and rather in- effective attempts to bid up a few special issues. The break in the public utility shares, particularly on the curb exchange and ‘“over the coynter,” was a depressing influence. The lowering of the call money re- newal rate to 3% per cent, on the other hand, failed to stimulate the market. Rails Inclined to Sag. The railway shares with only two or three exceptions were inclined to seg. New York Central was quite weak, and along with Canadian Pa- cific and Atchison was off 1'% pointe or so. Rock Island dropped a point. Against this Southern Railway was well taken around 97, and Reading rallied from its low a point or more. Ne signficance attached to the movement in rails except that specu- lation has been leaving thede stocks alone and consequently restless trad- ers have been selling them out and going into other things. Many New High Marks. The new high records were made in Coca Cola, Nash Motor, Fisher Body, International Cement, Ward Baking preferred, Cushman's Sons, Mack Trucks first preferred, and American Ice. The buying in the last named came mainly from one of the large houses. There was the usual talk in connection with the rise in Coca Cola, wbout this being the season of maxi- mum earnings. Also, of course, there was the well known contention of the profit margin being unusually big on ount of the low sugar prices. & Shares of typewriter companies were strong, with more activity in Rem- ington and Underwood. There was special buying in Gimbel Bros. stock, Standard Milling and Midcontnient Ofl. The latter was the only ofl stock which did anything. Some short cov- ering was done in Baldwin Locomo- tive, in the course of which the stock crossed 118. But later It slipped back again. Some Sharp Reactions. 1t took scarcely any selling to put American Wool down over a point. Mack Trucks, which at first had stood up against the disappointment occa- sioned bv the action of the directors in declaring only the regular dividend for the quarter. at length gave way. Willys-Overland was heavily sold. Chi- cago Preumatic Tool- broke over 2 points, Montana Power 2 points and Nay Department Stores 4. There was sharp reaction also in Consolidated Cigar. Mack Truck’s Action. Persons who professed to know the attitude of important holders of Mack Trucks stcok today expressed the opinion that the rather sharp fluctuations which occurred in Mack were the result of -attempts to shake eut a part of the speculative follow- They said the operation had besn successful, that stop loss orders had been caught, and that the con- trol from the faction was “cleaning the decks” in preparation for a re- newal of operations for the rise. Oil Shares Quiet. Observers in well informed circles en oil trade conditions believe one-of the things that has held back the oll shares recently has been the fear ef high production. The very heavy consumption has failed to offset these misgivings, and, as a consequence, the oils have not attracted the public fol- lewing that had been anticipated. MARKET CLOSES HEAVY. Maxwell Suspension and Weak Francs Are Depressing. NEW YORK, June 4 (#).—Stock wrices reacted sharply today under active selling for both accounts, which apparently was inspired by the Brow- ing belief that many stocks had been overbought in the recent extended ad- vance. Suspension of trading in the old Maxwell shares and the weakness of French exchange also had a de-. pressing effect on sentiment. Total sales approximated 1,100,000 shares. The closing was heavy. Lehigh Val- lev and Lackawanna were bid up 2 and 5 points, respectively, in the late trading, but selling pressure persisted in other sections-of the list. Markets af a Glance NEW YORK—Stocks lower; motors and public utilities weak. Bonds firm; Treasury record highs. Foreign exchanges heavy; French francs lowest since last Summer. Cotton firm; bullish Southwest crop advices. Sugar featureless. Coffee higher; strong Brazilian market. CHICAGO—Wheat firm; hot weather nsas. Corn higher; better cash demand. Cattle dull and higher. Hogs easier; shipping limited. issues at demand TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) o g g Ofter. 2 e B B, DuoRDD fEft 2 3 e P d 3 ,,.». Sesd H FOREIGN EXCHANGE. - (Quotations furnished by W. B. Hibbs & Co.\ Nominal Selling checks London. pound. ... = $4 8085 Nowtrea"Gollar. NEW YORK, June 4 UP).—Foreign exchanges irregular. Quotations in cents: Great Britain, demand, 485 11-16; . France, cables, 4.90%;. Italy, cables, 3.99%. demand, 4.90; demand, 3.99; Demand: Belgium, 4.79; Germany, 23.80; Holland, 40. uy, Norway, 16.77; Sweden, 26.74; Den- mark, 18.75; waue‘und, 19.36;" Spain, 14.56; Greece, Poland, 10%; Czechoslovakia, 1.665; Austria, Il% Ruml.nll, AT% NCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office n. High. Low. Close. i s 92% 92% 92% 92% 15% 15% 154 154 12 12 1% 1% 104% 104% 102% 103 18% 13 18% 921 90% = 90% 120 119% 120 84% 82% 83 19% 53% Abitibl Pow (4). Adams Exp (6). Adv Rumley. ... Ahumada (11). Alr Reduc (4) Ajax Rubber Allled Chem (4) . Allied Cm pf(7). Allis Chalm (). Am AgriculChm. Am Ag Chm pf: . Am Beet Sug(4) . .| Barnsdall A Am Bosch. AmCan (i1), ... Am Can pf (7). Am Car & Pdy . AmC&Fpr (7). Am Chain A (2). Am Chicle...... Am Chicle ctfs. . Am Drug (§0c Am Express ( Am & For Pow .. Am&FP 35% (1) Am&F P pf (7). Am Hide & Lea. . Am Hide & Ipf. AmIce (7). Am Internati.. AmLinseed. ... Am Linsd pf 3% Am Loco (118) Am Metal (3) Am Radlator (4) Am Safety R (3) Am Ship & Com. AmS& Ref (6).. AmS&R pf (7). Am Stl Fdys 3). Am Sugar. . Am Sugar pf (7). Am Sumatra. ... Am Sumatra pf Am Tel&Tel (9). Am Tobacco (7). Am Toba B (7). . Am WW&EI 1.20 A WW&EL pt(6) AmW W ist (7). Am Woolen Am Wool pf (7). Am Writ Pap pf. Am Zine ‘Anaconda (3) Ann Arbor. . . Archar-Dlnlels . Armour 111 A(2) . Armour Del (7). Arn Cons & Co. Artloom Corpn. . Artloom pf (7). Art Metal (1). Asso DG (new) Asso OIl (1%). Atchison (7). Atchison pf (5). . Atl Birm & At . Atlantic C L(18) AUGUIEWI.. Atl Gulf & WIpt Atlantic Refing. . Austin-Nichols AutoSales. ..... Baldwin L (7). Bald Loco pf(7). Balto & Ohio(5) . Bang & Ar (3)© 123% 123% 90% 90% 11 11 12 12 110 110% 35% 3b6% 264 264K 69% 69% 122% 122% 47 47 9% 95 49% 50 8% 8% 102% 103% 108% 108% 244 24% 4 4 115% 116% 4 114% 114% % 18 391 39% 23 23 184 18% 39% 39% 67% 67% 37% 38 110 110 4% 4% 40% 40 135% 135% 481 487%% Barnsdall B Bayuk Clgar. . .. Beech Nut(2.40). Bethlehem Stl. .. Beth Stipf(8)... Booth Fisheries Briggs Mfg(3%) Bkl Edison (8).. Bkl-Man Tran. .. Bk-Man'T pf(6) . Bkl Union G(4) . Brown Shoe (4) . Brunswick (3.60) Buff Roch & Pit. *Buff Rch & P Burns Bro (10) Burns Br B (2). Bur Add Ma (3). Bush Terminal.. Bush Ter de (7). Butte Cop (50¢) . Butte & Su(50c). Butterick. . Caddo Central. . Cal Packing (6) Cal Pete (1%). Calif Pet rts Calif Pet pf (7). Callahan Zine Calu & Ariz $2.50 Calu & Hec (50c) Can Pacific (10) Case Thresh pf.. Cent Teather-. . Cent Leather pf. CRRNJ (412). Century Rib (2). Cero d Pasco (4). tain-Teed (4). Certain-T 1st(7) . Certain-T 2d (7). Chandler (3). Ches & Ohio (4). Chi & Alton. . Chi & Alton pf. Chi & East Tl pf. Chi Great West. . ChiGr West pf.. Chi Mil & StP... Chi Mil& StP pt. Chi& Nwn (4) ... Chi Pneu T (5). . ChiRT& Pac. .. CRI&PDI(6). Chi Yellow C (4) Childs (2.40) ... Chile Cop (23). Cluett Peab (5) 601 Coca-Cola (7) - .« nau 118% 116 39% 37% 65% 8% 8% 14% 14% 84 84% 5% 5% 9% 9% 10 19, % Y8 bl 1134 113% 28% - 284 284 % 1214 2% 48% 13 139% 79% % 121% 121% 2% 2% 48 48 13 13 138% 139 79% 80 18 17% 17% 61 60% 60% 300% 200'/. 300% 300% 36% 36% 36% 49 49 49 50% 49 49% 9%5% 954% 88% 88% 35% 36 94% 95 5 5 8% 8% 46% 46% 11% 11% 25 15% 16 56" 57% 89 89 444 44% 88% 47 58% 83‘6 Col Fuel & Iron. ColG & E (2.1 50) Com Inv (2.50). . Consol Cigar . 1bt Consol Dis Consol Gas (5) . . :| ConsolL Textile. .. ContCan (4).... Cont Insur (6) .. Cont Mot (30c) .. Corn Prod (2) ... Corn Prod pf(7). Cructble St1 (4. Cuban Cane Su.. Cub CaneSu pf. . Cub Am Sug (3). Cuban Domin. .. Cuban Dom pf ... Cudahay Pkg (1) Cushmans (2) Cuyamel Fr (4). Davison Chem. .. Deere&Co pf(5). Del & Hud (9) ... Del L & Wn(11). Detroit Ed (8) ... Dodge Bros (A). Dodge Bros pf ... Dome Mines (2). Doug Pectin (1). Dupont (10) . Duquesne pf (7). Eastman (18) ... Eaton Axle (2).. Elec Power ctfs. El P&Lt 40% pd. El P&Lt full pd. Elec StrBat (4). End-John (5). ... Endicott pf (7). ErieRR.. Erie ist pt Erie2d pf..... Fairbks (2.60) . Famous P (8) .. Federal Lt (*7).. Fed Min pf (7). Fisher Body (5) Fisk Rubber. ... Fisk 18t pf (4) ... Fleischmann(4). Foundation (3) .. 11; Fro-porl Texas 684 64% 65 113% 113% 112% 113 10% 10% 10% 10% 33% 33% 383% 334 122% 122% 122% 122% 67% 68% 66 X 12% 133 29% 4% 50% | Gardner Motor. . Gen AmTnk (3). Gen Asphalt. ... Gen Asph'pf (5). Gen Baking (6).. Gen Cigar (8) Gen Electric(8) . Gen El spec §0c Gen Motors (6) Gen Mot pf (1) Gen Petrm.(2). Gen Refrac (2) Gimbel Bros. Gimbel Br p{(T). Ginter (1%).... Argentina, .40.00; Braszil, 10.70; Tokio, | § 41%; Shanghai, 100 1-64. 77%; Montreal, —_— Operations of de luxe trains be- tween Ma Epain, and the seaperts and frontiers I8 being considersd. 52 . 52% 100% 100% 106% 106% 106% 1 14% 14% 4% 67% 6T% 67 rich. Goodyear pt (). ear pr (8) Granby Conso! . . Grt North pf (5) | % | Hartman (23%) .. Gt Nor Ore (1) . Grt Wstn Su (3) ¢ 105» Greene Canan Gulf Mo & Nor. GuM & N pf (8). Gulf States 8(5). o,n llci. Low. Close. 28 28 104% 106% 12% 12% 2 29 96 96 83% 84% 20% 29W 144 145% 36% 1024 4% Havaha Eléc (6). Hayes Whi (3).. Hays W pf(7%). Homestake (14) . Household P (3) " Houston Ol. . Hudson Mn 2% . Hudson Mot (3). Hupp Mot (1)... Hydraulic St pf. Iilinois Cen (7). Indep Ol (1). 1nd Ofl rights. Indian Motorcy Indian Refining . . Inspir Cop (50c) . Interb Rap Tr Internat Agri Int Bus Mac (8). Intl Bus Ma rts. . Int Cement (4). . Int Com Eng (2). Internat Har(6). Inter Har pf (7). Int Mer Marine. . Int Mer Mar pf. Int Nickel Int Paper. . Int Paper pf (6). Intl Paper pf(7). Int Tel & Tel (6) Jones Bros Tea. . Jordan Mot (3).. KCP& L 1st (7). Kan City South. . Kan C So pf (4). Kayser (Julius). Kelly-Spring. . Kelly-Spring 1st Kelsey Whi (6).. Kennecott (3). .. Keystone T & R. Kinney G R (4) .. Kinney pf (8)... Kresge S S (8) Kresge Dep S(4) lede Gas (8). Lée Tire & Rub. . Leéhigh Val(3%). Liggett & M(14). Lig & My B(t4). Lima Loco (4).. Loews Inc (2) Loft.. Long Bell A (4). Loose--Wiles. . Lorillard (3). 108% 108% 17 117% 8% _ 8% 33% T33% 28% 28% 684 69% 9% 9% 90 90 110% 112 15% 164 43 43% 102% 1024 33 59% 26% Ludlum (2) Mackay pt (4) Mack Trcks (8 Mack T 18t (7). i Mack Trk 2d(7). Macy HR & Co. . Magma C (75¢) Mallison & Co Mallison pf (7) Man El Sup (3) ManEmdg (5). Man Shirt (1%5). Manila El (2%) . Maracaibo Ofl. ... Market St prior. . Marland O(75¢). Malin-Rock (1) . Martin-Pry (4).. Mathieson Alka. Maxwell (A)etfs. Maxwell(B)ctfs. May Dept St(5). Metro Gpf(1.89). Mexican Seabd. . Miami Cop (1).. Mid-Continent ... Middle States. . . Midind Pr pf(8): Minn & St Louls. Mis Kan & Tex. . MK&TDpt(5). Missour! Pacific. Missour! Pac pf. Mont Power (4) . Montgom Ward. . Moon Mot (3). Mother Lode Tsc. * 1 Motor Wh11.60. . Mullins Body. . .. Murry Body 2.40. Nash Mot (111). at Acme (sta). at Biscuit (3).. at Cloak (4). Nat Dalry (3)... Nat Dpt Stores. . Nat Distillers. .. NatDistillerspf. Nat Supply (3).. Nevada Copper . . t N G&E pf(7). Y Afr Br (4).. NYAIrBrA(4). N Y Canners(2). NYCanner pf(7) . N Y Central (7). NY C&StL(8 N Y Dock. N Y Dock pf (5): NY NH & Hart. NM‘FDI(IK).. Norfolk South. . . Norf & West(7). Norf & W pf (4). North Am u.un. North Pac' (5). Orpheum (1 lo) Elev: ou- Stee! 5 Owens Bot (3). Pacific Gas (8). . ific Oil (2) Paige Mot (1.20). Pan-Amer (6)... Pan-Amer B (6) . Panhandle.... .. Park & Tilford. . Penick & Ford Pennsy R R (3) Penn Seab Steel. Peoples Gas (8). Peoria & East. .. PhlaCo (4)... Phila&gRC&I Phillip Morris Phillips Pet (2). Phoenix Hos Plerce Arrow. . Plerce Arrow pf. Plerce-A prior 8. Pierce Oil... Plerce Petrol. Pitts Coal..... Pitts Ut pf 1. Pitts & West Va Postum Cer (4).. Press Steel Car. . Prod & Refiners. Pub Ser NJ (5). Pub Serv NJ rts. Pub SNJ pt (7). PubS N J pf(8). Pub S Gas pf(6). Pullman Co (8).. Pupta Al Su (5). Pure Oll (1%) Pure Oll pf (8 Radio Corpof A. % | Radio C pf (33%). Ry St Spg (8)... 127 Ry St Sp pf (7) 18 39% 20% 66% 14 44% 12% 5% B1% Reading 1st (2) Robert Reis Remington Type. Replogle Steel. .. Rep Ir & Steel. .. Reynolds 8p (1). Rey Tob B (3)... Royal D (4.42%) St Joseph Ld(2). St L &'San F(5). StL San F pf(6). St L Southwest 82 84% Seagrave (1.20). Sears-Roebk (6). 169 Shattuck-Ariz... 6 Shattuck FG(2). 67 Shell Un (1.40).. 24% Simmons Co (2). Simme Pet (1)... Sinclair Ol. . Sinclair pf (8). Skelly Oil. .. Sloss-She pf (7). SouthPac (6)... 1 Southern Ry (§). 99’6 38% loutstanding feature of toda: STAR, WASHINGTON, MOVES CONFUSED IN BOND MARKET| BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, June 4.~Strength in U. 8. Government bonds was the market. A new high record for'the year was made in Treasury 4%s at 107 and a new high for all time in Treasury 4 at 103. Liberty fourth 4%s sold the year's high and within a quarter of a point of the high of last August FINANC 1AL [omrevvome BONDS oceecenws] (WHEAT PRICES 60 [MANY WAYS OPEN. Received by Erlv-h Wire UNIYID STATES ”NB.. . are {n §1,000.) Sales. nm, Low. 28 101 101 o7 lo313 1029 7810131 1019, 1019 Lib3d 43%s. 203 102 10129 10131 Lib 4th4is 151 10218 102 15 102 16 “US481944. 328 108 10218 10221 US4%s’52 40 107 106 26 106 30 FOREIGN. Sales. High. Low. Close. 964 7 96% 96 102% 102% 3 98% 98% Close. 1011 102 11 Lib3%s... Lib 1st 4% Lib 2d 4%s, when money rates made their extreme | o low. The demand for the two Treasury 0% | Issues was considered significant by bankers in view of the longer terms as compared with the Liberties. Other Bonds Active. Insurance companies were in the market for high-grade raliroad and’ utility offerings, but the supply was very limited, offerings generally being in 0dd lots. 'New issues of strictly in- vestment qualty were also in scant |y supply. There was good demand for the low coupon rate railroad bonds such as New York Central 3%s. Forelgn bonds as a group were Strong. The feature was the German 78, approaching 98, and at a new top since they were first offered. Buying of these bonds has been very per- sistent for the last three days. The Hungarian 7%s, which had such rapid advance Wednesday, moved up another point today. Belgium 6%s did better after a long period of quiet. In -the South American group, Montevideo 7s sold at practically the high of the present advance. St. Pauls Are Watched. Interest in the rallway list was again concentrated on the St. Paul situation. It was reported that active steps in opposition to the reorganiza- tion plan would be taken by a mew committee representing dissatisfied bondholders. The old bonds sold down rather sharply, reflecting more general realization of the fact that under the plan as publisned the new securities to be given present bondholders would be the last lien on the property. Chi- cago, Terre Haute and Southeastern bonds sold off with the other St. Paul issues. Local tractions were mostly lower * considering selling coming into the Interboro bonds and notes. Today’s New Offerings. NEW YORK, June 4 (#).—A new issue of $6.000,000 American Linseed Company 6 per cent coupon notes, maturing serially to 1935, featured new offerings today. All maturities are priced at 100 and interest. The proceeds will be used to reduce debts. Other offerings _included = $3,800,000 Dade County, Florida, 5 per cent school bonds vielding 4.15 to 4.50 per cent; $2,260,000 Province of Alberta 4% per. cent gold bonds, priced at 98.17 and interest to yield about 4.80 per cent, and $2,500,000 Duval county, Florida, school bonds, ylelding 4.15 o 4.30 per cent. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) i P. & L. C. 6 1920. o i i 3:328838832382383383238823388238%338§] P2 PE PR T Be 192 Continental G. & E. Bs nn Du_Poot 733 1031, Federal b it bt 33328333323°333553832282578552 3588 S e e FREFRIFLELLE T & L2 = 87 23 20% 21% . 108 104 . B52% 52% 52% 53 69% 71 58% B84 42% 42% 118% ll!% 87 86% 86% 23 23 28 152“ 104 St Of1 Calif (2).. StONINJ (1)... StOUNJ pf (). Sterling Prod(4). Stew-Warner (5) Stromberg (6) ... Studebaker (4). . Submarine Boat. Superior Oil Symington. Tex Gulf S l'l’é) Tex & PacC&O. Tex & Pacific. . Third Avenue. .. Tide Wat Oil(4) . Timken R B(14) . Tobac Prod (6 ‘Tob Prod A (7). ‘Transcont Ol . Transue & W(3). Twin City (4) TUnderwood (3) .. Un Bag & Paper. Union O1l (1.30) . Union O] (1.80). Un Pacifie (10). . Un Pacific pf(4). Utd Alloy Steel .. Utd Cigar(13%) . United Drug (8). U S Cast Iron P. U 8 Distributl U S Hoff (2). . 8 Ind Alcohel. Realty (3)... Rubb B Rub 1st (8).. Smelting(3) . Steel (17) . 8 Steel pf (7) U S Tobacco (3) . Universal PlDG 66 uoa 445 53 l1"6 s‘m 107!6 !l’l% T TéN 264 264 69% 69% L 123% 128% 167 16'1 35%. 36 341 ‘344 89% 88% 144 145 4 T 47 101% 101% 36 86 114% 11 128% 12 56 56% '371 31 8 8 s s 8 “r.. WutP.gfl (:) 20% ‘West Md 3d pf - Westn Pac {58) .. w.-ny?a pL(84) West Unfon (1)... 1 Westinghse (4) Weston A (2) W (fl%).. % Yellow C«(3.52)..v 3T 38 37% 38 *0dd’lots. m: extra, SPIIIDII in mm.lh‘”* % | Brooklyn Union b | 24% 25 244 BI% Bi% 51% 51“ Canada Bx 1963. Canada 6%s 192 Chile 75 1943 Czecho 85 1951 29 Czecho8s1962ct.. 1 Danish Munic 8s A. 3 Danish’ )lnlln 8. . 10 DET6%sNov's3. 36 Dutch Bast I & . 28 Dutch East I 6s '62 l'i.nlnndll("“ Finlands 7 Lyon: Marseilla6s. ... Mexico 45 '04 asnt. Mexico 55 assented 44 Montevideo 7s. Norway 6s 1943 Norway 68 1944 Direct to The- Star’ Office. Sales. High. Low. Close. 7 101% 101% 101% 3 104% 104% 104% 15 10 101% 126% 127 103% 103% 109% 98 - 104 89% 4 10614 106% 97 South Bell Tel §s. , So Por Rico Sug 7s. Southwest Bell 5s. Stand G & Bl 6%s. . Tenn Blec Pow 6s. . Tide Wat Tal U S Bllbbcr T%a. sthn 'uun Pow & Lt Va-Car Chem Va<Car Ch 7%, Warner Sug 78 '39. West Elec b e Westn Unfon 6% Westinghouse 7s. . Willys-Ov 63833 11 Wilson & Co 1st 65, 10 Wilson & Co cv 68 17 Wilson & Cev T%s. 8 Winchester A 7%s. 2 Youngstn S& T 6s. 36 100 RAILROADS. Ann Arbor 45 Atchison gen 4 B & O gold is Bklyn Manhat 6s. Canada South 58 Canad North 6% Canad North 7s. C&WIE%s'62. CCC & St L 5: CCC&StLrrésA. Cleve Term 5s. .+ .. Fotand 88750 wi. Prague 7%s. Rio Gr Do Sul Sao Paulo State Sweden %8 ot Sweden 6 S Swies 5348 1946 Swiss Confed 85 Toklo pa.r. 2 114% 114% 3 68% 68% Ud Kingm 5%s 2! 1T% 117% Ud Kingm §% 107% 107% MISCELLANEOUS. 5 101% 1014 12 108% 108% Am Chain sf 6s’33. 12 99 98 C&S1st4s’29. . Colo & Sou 43 Cuba RR 6s. Del & Hd 1st rf 45. Del Hud cv 58 °35. . Den & Rio G cn 4s. D & Rio G tmp b D& Rio G Wt 5 Det United 4%s Erle 1st cons 4 Erte conv 48 A \course of the Liverpooi market, how- 100% hamper, HIGHER N CHICAGQ Prospects of Crop Damage Due to Hot Winds Help Values Advance. Br the Associated Press. CHICAGO, June 4.—Sharp new up- turns in the of wheat quiekly followed a setback at the start to- day. Initial declines were brought about largely by failure of Liyerpool quotations to reflect advances which were scored yesterday on this aside of the Atlantic. Notwithstanding the ever, many traders here began act- ing promptly on an opinion that un- favorable domestic crop conditions much more than outweighed at pres- ent the influence of world supply and demand. Prospects of hot winds in Kansas received particular atten- tion. Chicago opening figures, un- changed to 1% lower, July 1.63% to 1.64, and September 1593 to 1.569%, were followed by a rise which car- ried July to 1.67% and September to 1.63. Corn and oats sympathized with Wheat. - After starting at % lower to 1% higher, September, 1.14% to .15, the corn market showed ma- ler! 1 gains all around. started unchanged to 3% up, s.ptnmber 48% to 49, and later made a decided general advance, going well above 50. Provisions were responsive to grain strength. W HEAT— Y H Close. aba! azaf 33 538 ER S SR AT b bt Bht ook i & 235 333 3% LoD ek i Som 338 RER 233 .-u,- ®» S53 GXAIN—‘ AND PROVISIONS. BALTIMORE, Md., June 4 (Special). —Potatoes, per 100 poundl‘ 1.00a1.25; sweet potatoes and yams, bushel, 1.50 23.00; new potatoes, barrel, 2.5026.00. Asparagus, dozen, 1.25a8.50. Beans, 3.00a4.25. Beets, 100, 3.00a 5.00. Cabbage, crate, 2.50a3.00. Kale, bushel, 15a35. Carrots, 100, 3.00a5.00. Celery, crate, 1.50a2.50. Cucumbers, hamper, 2.00a3.25. Eggplants, crate, 2.00a3.25. Lettuce, basket; #5a75. On- ions, crate, 3.00a3.50= Spring onions, 100, 1.00a1.75. Peas, bushel, 1.5022.50. Peppers, crate. 1.50a5.00. Rhubarb, 100, 3.0024.00. Radishes, 100, 1.00a2.00. Spinach, bushe!, 25a50. Squash, crate, 1.6028.00. Tomatoes, crate, 1.50a3.50. Apples, packed, barrel, 4.00a9.00; bushel, 1.50a3.00. Grapefruit, box, 3.5025.50. Strawberries, quart, 10a18. Oranges, box, 6.00a8.50. Pineapples, Erle conv ext i Erie & Jersey Erie Gene: FlaEC5s'74..... Gr Trunk sf db 6s. Great North 5s. ... Great North 53s. . Gr North gen 7s Green B& W db B G Mob&N 5%sB'50 3 Havana ERL&P '50 4 Hud & Man ref 5s.. 2 Hud & Man aj 5s T Cent ref 58 °55. . 111 Central 5%s. 111 O-C St L&) Anaconda 1st Anaconda ev db 7, Andes 75 25% pd. . Armour & Co %38 Armour Del §34s. . Associated Ol 6s. . =1 102% 98% 93 ok 94% 8T 874 95 94% 100% 1 102 101% 101% 101% 96% 96% 104% 104 Beth Steel rf 5a. ... Beth Steel 5345 53.. Heth Steel s f 6s. . Brier H St st 6%, Bkiyn Ed gen 6s.. . Bush T BIdg 65°60. Calif Pete 63%s. ..zu.,s,...,zw; Qo= EX TR e -1 108% 105% 106% 1064 105 104% 34 104% 104% z 1184 113% % 106 19 100% 108% 6 120% 1204 6 104 103% 19 101% 101% 26 101% 101% 1798 98 13 23580 Illinots Int Mer Marine 5 103% 108 7102 101% 8 101% 101% 8 93% 93% 3 100% 100 2 119% 119% 1 l;:% l;:t Louisv G & E §s ‘53100 t] Sug sf T%s 2 100% 100% frivs % ,'40.. 11 9T% 97% 1 47 101% 101% 4116 116 1 90% % S 103% 108% 27 98% 98 36 108% 108% 8 110% 110% . 11 101% 101% 7 1056% 106% 2 96% 95% 13 98% 98% 3106 106 Nor OhloT & L Nor States Nor States ou- Steel 7% s Steel . 12 103% 103 2111 111 58 m 99% "gus “-u' 38 105 104 105 1] B Berv GasBia a4 16 104% 104 104% 2 107% 107% 107% . 1 106% 106% 106% « 26 111% 110% 110% l' 8T% 874 8T . 98 93 - 98 . ” nm IM 1m . ll lll llt)i Iltl 99% | va Ry & P 1st b Int Rap Tran 5s... pd Int & G Noraj 6s. . Kansas City S 3s. . Kansas City S 6s. . Kan City Term 4s Lake Shore 45 '28.. . Lake Shore ¢s'31.. Lehigh Val 5s 2003 Louis & N uni ¢s Louis & Nash 7s Manhat Ry cn 4s. . Market St Ry 7s MilEl Ry & L s M St P &SSMcn 4s 16 MBtP&SSM5%s. 3 Mo-Pac 55 1926 Mo Pac 55 1965. Mo Pacific 68 Montrl Tm 1st 5s. . assau E Ry 45 ‘67 NO Tex& M in bs. NOTex&M6sB Ta&MbY T&MG6%. Cen gen 3 : Centcn 45 '98. Centribs. . Cent LS cl3%¢ NYChi &5tL5%s NYC&StL6sA. N ~ N N N N N N o o o "y Y X Y Norfolk & W cn Northern Pac 48 Northern Pac 58 D. Northern Pacr § 6s Ore & Calif 1st 5s. . Ore Short L ref ¢s. Ore-Wash 1st rf ¢s. Pennsylcon 4%s. . Pennsyl nn;% annnans Yy 44 Third Ave ref 4 Third Ave adj 5 Toledo Trac 6. Unlon Pac 1st 43. Union Pac 1st rf ¢s. Unilon Pac 48 '27. 108% 103% l“!t 100% 100% 100% 98% 984 98l 101% 101% 101% 1 98 98 98 Virginia Ry 1st b Wabashint b# 92% | classes. crate, 2.50a4.00. Peaches, crate, 1.50a 2.75. Blackberries, quart, 8al5. Can- taloupes, crate, 4.00a6.50. Selling Prices at Noon. ‘Wheat—No. 1 red Winter, spot, ex- port, no quotations; No. 2 red Win- ter, spot, domestic, 1.87, nominal; No. 2 red Winter, garlicky, domestic, 1.87, nominal; No. 3 red Winter, no quotations. Sales—None. Corn—Cob, new, yellow, spot, 6.50a 6.75, nominal, per barrel; track yel low, No. 2, 1.30 bushel. None, Oats—No. 2, 59a59%; No. 3. 57a57%. Rye—Nearby, 1.10al.15; No. 2 rye, spot, 1.18%. Hay—Receipts, 98 tons. The de- mand that prevails for hay is confined to the top grade of timothy and choice light clover, mixed, of which types of hay there is no oversupply. Demand generally is light. Medium and low- grade hay is in ample supply and hard to move at any price. Quotations today—No. 2 timothy. 17.50a18.00; No. 3 timothy, 14.50a16.00 No.1 light clover, mixed, 17.00a17.50 No. 1 clover, mixed, 16.| 50217, 00; No. 2 clover, mixed, 14.00215.00. Straw—No. 1 wheat, 15.00a15.50 per ton; N oat, 15.50a16.00; No. straight rye, 18.50a19.00. i, CHICAGO LIVE STOCK MARKET CHICAGO, June 4 (United States Department of Agriculture).—Hogs— Receipts, 31,000 head; slow. medium and heavyweight butchers opened steady at Wednesday's best prices; later sales unchanged at yesterday average; light light and light dull, steady to 10 lower than yesterday average; shipping orders limited; big packers inactive: bulk, 225 to 325 pound butchers, 12.16a12.35; top, 12.40; bulk, 140 to 210 pound weight, 11.90a 12.30; packing sows, largely’ 10.90a 11.30; majority strongweight slaughter pigs, 11.50a11.76; heavyweight hogs, 12.00a12.35; medium, 12.00a12.30; light, 11.70a12.30; light light, - 11.00a12.35; packing hogs, ‘smooth, 11.00a11.40; packing hogs, - rough, 10.65a11.00; slaughter pigs, 10.75a11.85. Cattle—Receipts, 11,000 head; choice n-ulu light and handyweight steers, steady; trade slow: in-between grades. all weights, weak to lower; bidding, to ‘15 off; spots, more; part 1 or mixed yearlings, upward to 11.75; sev- eral strings of yearlings, 11.00a11.50; mixed offerings in load lots at outside figure; largely a steer run; good to choice grades ' predominating in welghty, offerings; early top heavies, 11:40; some held above 11.50; water fills liberal; two-way market on she stock; better grades fat cows and heifers, fully steady; others and can- ners and cutters weak; bulls about steady; vealers, 50 lower, at 9.50a10.25; few 10.50 to packers. ‘Sheep—Receipts, 18,000 HNead: all classes very slow; approximately 500 head of choice yearling wethers, 13.25, 25 lower; nothing done on other NEW YORK DAmY;!.IC‘!S. NEW YORK, June 4 (#).—Butter steady; receipts, 15,349 packages,cream. ery, extras (92 score), 42%4a43; cream- ery, firsts (88 to 91 score), 4113a42%4. r; receipts, 36,661 INU. 3. FINANCING Bankers Locally Favor Ex-| change Program or Short- Maturity Offering. BY CHAS. P. SHAEFFER. Several courses are open to Secr tary of the Treasury Mellon with r spect to mid-month financing. Consensus of opinion in local fina clal circles lean to either an exchang: program, the 3 per cent Liberty b for the 4s of 1944-54, at the market, o an offering of one-year certificates « 18-month notes. The first named which there are $2,885,000,000 ou standing, mature September 15, 1923 and are now selling at 102. Belief ti this program may be followed i strengthened when it is recalled they were exchangeable for the 4s on De cember 15, last, when they were sel ing at only fractionally above 101 An offering of certificates maturin, in one year's time or the 13-month notes would be extremely popuiaj from the Treasury standpoint on ac count of the fact that there are 1y maturities either on June 15 next.oif on December. 15, 1926. Mr. Mellon past policy (and it has worked so we that a deviation seems most remote has been to time maturities so that n material amounts fall due the sam date. Other courses left open to the Secre tary include an offering of four-yea notes, as there are no maturities 1929, or an additional offering of per cent long term bonds. Stockholders to Meet Stockholders of the Riggs Nations Bank will hold a special meeting & 3:30 o'clock, June 10, for the purpos of voting on a resolution ratifying comfirming directors’ action in agr ing with the board of the Northwes| National providing for a consolidatio of the two institutions, under ta charter and title of “The Rigg National Bank of Washington, D. (. One hour later shareholders of Northwest National will meet special session for the purpose of ap proving like action by the board the Mount Pleasant bank. Trading on Local Board. Stock of the Washington Gas Co. recorded a small advance on local board today, sales of 43 shar being made at 581;. National Mort gage and Investment preferr E‘A strengthened to 9% on sales of shares, but Lanston and Railway ferred were both pegged at 53 trading restricted to small and lots. Capital Traction was firn 95%. The bond side of the market wag lethargic. Gas 6s of 1933 sold af 103 and the s, the only other active tssue, sold at 100% New Coins Offered. Stone Mountain Memorial half lars are now being offered by a r Jority of Washington banks. W they are not procurable until 13 a certificate is available w be exchanged at the conven the purchaser. Issuance of these coins has authorized to the extent of half a million. They will be sold 3 each, the balance, or $250, 1n, utilized by the memorial fo Distribution of the coins is handled by the Federal reserve of the various districts pre with £ 4, nce of beed C. & 0. Revenues Grow. Gross revenues of the Chesapea and -Ohio Railroad for May appro mated $9,500,000, President Hara. states, an increase of about $83Z over May last year HELP FOR ST. PAUL INVESTORS URGED Stockholders Must Have Funds 14 Meet Heavy Levy, Byram Is Told. By the Associated Press A move toward assisting stockhold ers of the Chicago, Milwaukee and St Paul Railroad to meet assessment placed upon them in the road's réom ganization plan has been started her e by a group of stockholders J. D. Shatford, representing American Railroad Owners' tion, informed H. W. Byram, one of the receivers and former president of the road, at a conference iast night that unless such action is taken the reorganization plan will meet with oo Pposition. The assessment on common st proposed is $28 per share and on ferred $32. “We told Mr. he el Byram, who f agreed with us,” Mr. Shatford s today, “that some means should found to assist stockholders to m this” heavy levy DAIRY PRODUCTS. BALTIMORE, June 4 (Specia! Live poultry—Spring chickens, pournd horns. 28a40; old hens. young ducks, 28a3j pigeons, pair, 35a40; guinea fowl, eact} 50a75. 0 Eggs—Receipts, 1.860 cases; natiy: and nearby firsts, dozeh, offered at 3 Butter—Good to fancy creamer; pound, 40a45; prints, 45a7; ladles, 31; store-packed, 28: dairy’ prints, 30; rolls, 28a30; process butter, 34 AUTO OUTPUT DROPS. NEW YORK, June 4 (#).—Prodwd tion of automobiles and motor trucy in the United States during M4 dropped to 404,300 from 421,878 April, . .the , National _Automob Chamber of Commerce reports, b increased 99791 over May, 1924 REO DECLAB.ES EXTRA.” NEW YORK, June 4 (®#.—A qu terly dividend of 2 per cent, whis formerly had been 14 per cent, a 23} irregula: cases. Fresh gathered seconds, 30%a 31; nearby hennery whites, closely se- lected extras, 4 c coast whites, 5 extras, 41%a42. DRY GOODS IRREGULAR. NEW YORK, June 4 (Special).—Cot- n goods markets were quiet today, wlux a slightly irregular trend. The 64x60 print cloths were quoted an eighth higher at 9% emu, while the 68x72s were an eighth lower at. 10. Raw silks were slow, with prices un- c BUTTER HIGHER TODAY. CHICAGO, June 4. (P).—Butter, highey; receipts, 11,437 tubs. Cream- , 42%; standards, 42%; extra firsts, 4la41%; firsts, 39a40; seconds, 33a38. Eggs, unchanged; receipts, 17,662 cases. . DURANT'S NET INCOME. NEW YORK, June 4 UP).—Durant Motors, Inc., reports net income of $767,576 after . expenses 1924, it _net profits of $2,715,226 in 1233. Dividends and misce! eous income amounted to $2,172,311, in con- trast to $4,405,364 the year before. an extra of 1 per cent were declas| today by the Reo Motor Car ¢ payable July 1. to stock of recol June 15. - R.ECORD IN BUILDING. PHILADELPHIA. June 4 (Speci] —Building permits issued here in 1ast month broke all records for Ma They covered 2,423 operations to $14,434,300. For the first five mor of the year construction necessitat expenditure of $74,858,065. WOOL PRICES HIGHER. BOSTON, June 4 (Special).—Fine = medium fleece wools were in act demand today, but the supply is large and competition for the n| clips is advancing prices in the mary markets. PINEAPPLES CHEAPER. SAN FRANCISCO, June 4 (Spec —Increased productior and cop quent reduction of operating costs cited as reasons for the low open prices quoted by the Hawailan ¥f apple Co. for the 1925 pack. Que) tions are 20 cents to $1.50 a dozen 1 than in 1924.