Evening Star Newspaper, June 5, 1925, Page 28

28 = NEW HIGH LEVELS IN STOCK MARKET Oils Start Several Issues to Climbing, While Others Lose Much Ground. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, June 5.—Following an hour of rather heavy selling, stocks today rallled under the lead of the oil shares and a number of specialties, and on the recovery many of the early losses were canceled and some new high records were established During the early weakness Ameri- can Can lost more than 2 points, Ana- conda and Kennecott a point each American Car and Foundry over points, International Paper nearl points and United States Cast Iron Pipe 4 points. The erratic Commer- al Solvents A broke over 9 points. Heavy selling was renewed in Willy Overland, the common getting down over a point. Maxwell Motors, B cer- tificates fell over 3 points and Radio Corporation over a point. Among the rails the selling showed chiefly in Rock Island, in Reading and in Chicago Great Western preferred, all of which were off more than a point. 0il Shares Turn Strong. The turn for the better came in the second hour, when buying orders sud- denly made their appearance in the oil shares. Pan-American B was rush- ed up nearly 3 points and Atlantic Refining over 3 poin Tidewater Oil gained almost 3 points and General Asphalt nearly 2. Along with this there were rallies of a point to a point and a half in Phillips Petroleum and in General Petroleum. The most re- markable performances in the oil &roup, however, occurred.in the low- priced issues. Middlestates, which had closed on Thursday at 13, got up to 27, and Caddo rose from % to 1%, which meant 100 per cent advance n the day. Union Oil had a similar advance from 3 to %, and Kansas and Gulf rose from % to 3. Attack on U. 8. selling pressure at the start was directed chlefly against the steels. United States Steel common came within little more than a point of the lowest for 1 Bethlehem Steel made a new low s and Cru- cible was down wWithin & point of its bottom figure of the year, Declines occurred in Gulf States and in Sloss Sheffield Later the steel shares were some- what firmer. The selling was based not on more favorable trade reports but upon calculations that when be- tween the reduced profit margin and the lessened production of the second quarter the earnings of the steel com- panies for this period will make a relatively poor showing. High teel. The Day’ New Records. s were made in Cushman ol Woolworth, Owens Bottle preferred, Natlonal Acme, Mack Trucks first preferred, Tobacco Products A. American Ice and Moon Motor. The recent buying in Amer. ican Ice has been coming from a sin- gle quarter. Apparently it ¥ based upon improved earnings reports and talk about the effect of the hot weather upon the company's reve nue Texas Company bore out even while the general list was weak the bullish references which have been heard recently about the company's busine: The prediction has been made by one keen observer that Texas Company’s net income in 1925 will ap- proximate $50.000,000. The stock to- day sold ex the quarterly 75-cent dis- bursement and at the highest of the vear, easily making up the divi- dend. 0il Trade Conditions Summed Up. The Street cannot find any logical basis for misgivings regarding the position of ofl trade, and this account. ed to a large extent for the reviv buying in the oil stocks today duction of crude petroleum has been maintained at a pretty high rate, but consumption has been enormous, and the well managed companies are mak ing money Remington Typewriter was bid up around its best prices for the year, the buying reported as having come largely from one source in the Street. Bullish operations in this stock were conducted on the strength of infor- mation recently given out officially that Remington business was ahead of last vear, and expected to show further improvement. Both domestic and foreign sales have increased. MARKET CLOSES FIRM. New Extensive Covering Helps Final Afternoon Trading. NEW YORK, June 5 (P).—Revival of strength and activity In the oil shares featured today's relatively quiet session of the stock market. Renewal of selling pressure against the motors and public utilities im- parted a reactionary tone to the early trading, but better buying support de- veloped as the session progressed. Total approximated 1,050,000 shares. The closing v firm. Lehigh Valley was lifted to a new 1925 high in the last hour of trading and ex- tensive covering operations took place in American Can, Mack Truck and American Smelting, which made brisk recoveries from their recent lows. sales Markets at a Glance SW- YORK: _Stocks advance 1 to 3 pofni ; French bonds decline. Foreign inges—Lower; francs break 12 points to year's low. Cotton—Ad- vanced: bullish statistics. Sugar— Featureless. Coffee—Firm; trade buy- in Irregular; Ronds— CHICAGO: ' Wheat—Higher; unfa- vorable weather. Corn—Reacted: real- izing. Cattle—Steady: receipts small. Hogs—Dull and irregular. FOREIGN EXCHANGE, (Quotations furnished by W. B. Hibbs & Co.} Nominal Selling checke gold value. . today. $4.8065 $4.86 100" i 4 ‘o4 0475 London. pound. .. Montreal, dollar. . Paris, fran Brussels, franc. Berlin. mark Rome Zurich, Athens, lira. franc : 1937 drachma. .. | 0168 1408 000014 % Copenhagen, Christiania, Stockholm, NEW YORK, June 5 (#).—Foreign exchanges irregular. Quotations in cents: Great Britain, demand, 4.855; cables, 4.86; 60-day bills on banks, 4.81%. France, demand, 4.80%: c: bles, 4.81. Italy, demand, 3.971;; cables, 3.98. Demand—Belgium, 4.72%; Ge many, 23.80; Holland, 40.13; Norwa: 16.70; Sweden, 26.73; Denmark, 18.7 Switzerland, 19.3 Spain, 14.5 Greece, 1.66; Poland, 1914; Czechoslo- vakia, 2.96%; Jugoslavia, 1.67; Aus- tria, .14%; Rumania, .4714; Argentin: 40.25; Brazil, 10.75; Tokio, 41%: Shang: hai, 77%; Montreal, 100 1-64. AR SR A e crown. crown. crown. Flats similar to those in New York that sell for $150,000 are to be offered in Leondon for §50,000. FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Abitibl Pow (4). Adv Rumley. ... Ahumada (11).. Afr Reduc (4) Ajax Rubber. Allfed Chem (4) . Allied Cm pf(7). Allis Chalm (6). Am Agricvl Chm. Am Ag Chm pf. . Am Bnk Nte (5) . Am Bosch. . Am Brk Shoe(5) . Am Can (17).... Am Can pf (7) Am Car & Fdy Am Chain A (2). Am Chicle. . AM Chicle rts. Am Drug (60c).. Am Express (6) . Am & For Pow. . Am&F P pf (7). Am Hide & 1pt.. Am Ice (7).. Am Ice pf (8)... Am Internatl. ... Am La Fran (1). Am Linseed. . ... Am Linsd pf 3% Am Loco (+18).. Am Metal (3)... Am Plano pf(7). Am Radiator (4) Am Safety R (3) Am S & Ref (6).. AmS&R pf (7). Am Stl Fdys (3). Am Sugar. Am Sugar pf (7) Am Sumatr. Am Tel & Ca (5). Am Tel&Tel (9). Am Tobacco (7). Am Toba B (7). Am Tobac pt (6). Am Typ Fdrs( Am WW&E11.20 A WWE&EIL pf(6) Am W W 1st (7). Am len. ‘Am Wool pf (7). Am Writ Pap pf. Anaconda (3).. Archer-Daniels. . Armour TH A(2) . Armour Del (7). Arn Cons & Co. .. Artloom pf (7) Asso D G 1st(6) Asso Oil (138) Atchison (7).... Atchison pf (5). Atl Birm & At. .. Atiantic C L(18) AtGuIL&WI.. Atl Guif & WI pf Atlantic Refing. . Atlus Powdr (4). Atias Tack Austin-Nichol Baldwin L. Balto & Ohio(5). Bang & Ar (3) Barnsdall A- Bayuk Cigar. Beech Nut(2.40). Bethlehem Stl. .. Briggs Mfg(31%) British Empire. . Bkl Edison (8).. Bkl-Man Tran Bk-Man T pf(6). Bkl Unlon G(4).. Brown Shoe (4). Brunswick (3.60) Brunswick Ter. . *Buff Rech & P... Burns Bro (10).. Burns Br B (2).. Bur Add Ma (3)* Bush Terminal. . Bush Ter de (7). Butte Cop (50¢) . Butte & Su(50¢). Caddo Central. .. Cal Packing (8) Cal Pete (1% ) | Calif Petrts. ... Calif Pet pf (7). Callahan Zinc. . - Calu & Ariz $2.50 Case Thresh pf. . Cent Teather. . Cent Leather pf. Century Rib (2). Cero d Pasco (4) . Certain-Teed (4). Chandler (3). ... Ches & Ohio (4). Ches&O p(6%). Chi & Alton.. .. .. Chi & Alton pf. Chi & EastIll. .. Chi & East 111 pf. Chi Great West. Chi Gr West pf.. Chi Mil1 & StP... Chi Mil& StP pf. Chig& Nwn (4). .. Chi & Nw pf ChiPneuT (5).. {ChiRI&Fac... CRI&PDS (7). Childs ($2.40) . Chite Cop (234). Chino Copper CCC&StL (). Cluett Peab (5). Coca-Cola (7). .. Coca-Cola pf (7). Col Fuel & Iron. Col G & E (2.50). ColCarbon (4)... Com Solv A (4).. Congolium (3). . Consol Cigar. . Con Cigar pf (1). Consol Distribut. Consol Gas (3) .. Consol Textile Cont Can (4).... Cont Mot (80c).. Corn Prod (2). .. Corn Prod pf (7). Crucible St1 (4). Cuban Cane Su. . Cub Cane Su pf.. Cub Am Sug (3). Cuban Domin. . . Cudahay Pk (7) Cushmans (2) Cuyamel Fr (4). Daniel Boone. Davison Chem Del & Hud (8) .. | Del L & Wn(47). 1 Detroit Ed (8)... Dodge Bros (4). Dodge Bros pf. .. Dome Mines (2) . Doug Pectin (1). Dupont (10) .. Duquesne pf (7). Eastman (18) . Eaton Axle (2).. Elec Power ctfs. EI P&Lt 40% pd. El P&I full pd. Elec Str Bat (4). End-John (5). eRR. Erfe 1st pf.. Srie 2d pf. .. Fairbks (2.60) Famous P1 (8) Famous pf (8) Federal Lt (*7).. Fid Phoentx (8). Fisher Body (5). Fisk Rubber. . Fleischmann(4). Foundation (8).. Freeport-Texas. . Gardner Motor.. Gen Asphalt. Gen Cigar (3). .. Gen Electric(8). Gen El spec 60c. . Gen Motors (6) .. Gen Mot pf (7).. Gen Petrm (2) -| Gimbel Bros. Ginter (1%). Glidden Co. Goodrich . Goodrich pf (7). Goodyear pt (7). Grt North pf (5). Gt Nor Ore (1).. Grt Wstn Su (8). Guantanamo Gulf Mo & Nor GuM & N pf (8). Gulf States S(5). Hartman (2%) . Havana Elec (i) . Hayes Whi (3).. Hoe& Co A (4).. Homestake (14) . Household P (3). Houston Oil Open. High. Kt 15 11% . 102% 13 90% 120 82% 19 52%% 175 32% 108% 188 121% 104 24 55% % 6 133% 34% 90% T1% . 112% 84 33% 12% 26 69 163% 45% 451 109'4 45 10% 24 % 12 15 11% 102% 13 92 120 83 19% 53 175 32% 103% 188% 121% 1048 24 55% % 6 184 34% 90% 1% 114% 84 33% 12% 26 69% 122 46% 92 904 50 104% 110 39 63 96 9% 3974 140% 96 95 107 113% 66% 107 101 37 79 34 87% 821 21% 94% Low. 2 15 11% 102% 13 90%% 120 82% 19 52% 175 321 103% 185% 121% 101%- 24 Bau % 6 133% 33% 90%, 1% 111% 84 33% 12% 264 68% 121% 46% 92 95 49% 102 110 . 38% 62% 96 9 3974 140% 940 9474 107 110% 63% 107 101 363 8% 3% 3615 3214 20% 94 913 102 98% 38 4 118% 96 4% 162% 45 46% 109% 45 10% 24 11% % 395 2234 10w 67 37 404 2 1331 48% 80% 88% 96 26% Close. | 72 15 11% 102% 13 1% 120 83 19% 53 176 321 103% 188% 121% 108% 24 54% i3 6 134 344 9074 1% 114% 84 33% 12% 26% 69'% 122 46% 92 95 50 103y 110 38% 6274 96 9 397 140% Hudson Mn 215 . Hudson Mot (3). Hupp Mot (1). 1llinois Cen (7) 111 Cent pf (6). Indep Ofl (1). Ind Ofl rights Open. High. 30 63% 1% . 113% . 116 30% Indian Motorcy . . Indian Rafining. . *Ingersol R(8) Inspir Cop (50c). Interb Rap Tr Int Cement (4 Int Com Eng (2). Internat Har(5) . Inter Har pf (7). Int Mer Mar pf Int Nickel. . Inter Nick pf(6). Int Paper. Int Paper p! Int] Paper pf(7). Int Tel & Tel (6) Jordan Mot (3) KCP & L 18t (7). Kan City South. . Kan C 8o pf (4). Kansas & Gulf. . 30% 63% 17% 113% 116 81 L 1T% 8% 230 28% 244 67 43 108% 18 34 29 974 6918 9% 90 W 114% Kayser (Julius). Kayser 1st pf(7). Kelly-Spring Kennecott (3). Keystone T & R. Kinney pf (8). Kresge S S (8). Kresge DS pf(8). Laclede Gas (8). Lee Tire & Rub. , Lehigh Val(314). Lig & My B(t4 Loews Inc (2). Loft. Long flell A H) Loose--Wile: Lortllard (3) Louisiana Oil Louis & Nsh(6). Ludlum (2) McCrory pf ( Mackay pf (4. Mack Treks (6). Mack T 1st (7).. Macy H R & Co Magma C (T5¢).. Mallison & Co. Man El Sup (4).. ManEmdg (5). Man Shirt (134). Manila El (23%) . Maracaibo Oil. Market St prior. . Marland O(75¢). Malin-Rock (1).. Martin-Pry (4).. Mathieson Alka. Maxwell(A)ctfs. Maxwell(B)ctfs. May Dept St(5). Mexican Seabd Miami Cop (1), Mid-Continent. . Mid-Cont pf (7). Middle States. Midind Pr pf(8 Min St P & SSM. M St P & SSM pf. Mis Kan & Tex. . Missour! Pacific. Missouri Pac pt. Mont Power (4). Montgom Ward. . Moon Mot (3) Mother Lode 75; Motor Whi1.60. . Murry Body 2.40. at Acme (sta). 114% 123 15% S 34% 915 -0 1155 32 47% 33% 341 9% 79% 524 304 254 35% Nat Biscult (3).. Nat Cloak (4) . Jat Dairy (3). at Dpt Store: Nat D St 1st (7). Nat Distillers. .. Nat Enamel & S. at Lead (8) 2t Ry Mex 2 at Supply (3) evada Copper NYAirBr(4). N Y Canners(2). ¥ Central (7). Y C&StL(6).. YC&StL pf(6). Y NH & Hart.. Y On & Wn(1). Y Shipbld (2). lag F pf(1%) orfolk South. .. orf & West(7). orf & W pf (4). orth Am (3.40). orth Am pf(3). North Pac (5). Ontario Mining Otis Elevat (6) Otis Steel. Otis Steel pf. Owens Bot (3). Owens B pf (7) Pacific Gas (8) Pacific Of1 (2). Packard (11.70) . Packard pf (7).. Paige Mot(1.20) . Pan-Amer (6). 115% 124% 91 82% 23 26 28% 33% 127% 77 47% 49% 637% % 113 13% 70 . AT% .13 116 Pan-Amer B (6) . Panhandle. . .. Panhandle pf Park & Tilford Penick & Ford. Pennsy R R (3).. Penn Seab Steel. Phla Co (4). . Phila& RC&I.. Phillip Morris. Phillips Pet (2). Phoenix Hoslery. Pierce Arrow . - Pierce Arrow pf. Pierce Oil.. Pierce Oil pf. Pierce Petrol. Pitts Coal. ... Pitts Ut pf 11 Pitts & West Porto Rico Tob. Postum Cer (4).. Press Steel Car Prod & Refiners. Pub Ser N J (5). Pub Serv NJ rts. Pub S NJ pf (7). Pullman Co (8).. Punta Al Su (5). Pure Oil (1%)... Radlo Corp of A. Ry Stl Spg (8)... Ray Cons Cop Reading (4) Reading rts Reading 1st (") Reading 2d (2) Robert Reis Remington Ty pe Replogle Steel. .. Rep Ir & Steel . Reynolds Sp (1). Rey Tob B (3). Rossia rts. Royal D (4. l”‘é) St Joseph Ld(2). St L & San F(5). StL San F pf(6). St L Southwest. . Savage Arms Schulte (*8). Seaboard Air Seabd Alr Lipf.. Seagrave (1.20). Sears-Roebk (8). Shattuck-Ariz. Shattuck FG(2). Shell Un (1.40) Simmons Co (2). Stmms Pet (1)... Sinclair Of1. Sinclair pf (8). Skelly Ofl... Sloss-Sheff (6) Slioss-Shf pf (7). i South Port S (6). South Pac (6). Southern Ry (5). South Ry pf (5). Spicer Mfg. . | sta Gas & E1(3). | Sta G&El pf (4) Stand Mill (5) . St Oi1 Calif (2) StONNJ (1) Std Plate Glast Stew-Warner (5) Studebaker (4) .. Submarine Boat. Superior Ofl. Symington. Tennessee Cop. Texas Co (3) . Tex Guif S (%) Tex & PacC&O. Tex & Pacific. . Third Avenue. .. 42% 14 167% 6 651 23% 41% 23% 20% 90 27% 86t 92 70 100% 95% BT% 20% 511z . B2% 691 55% 42% 10% 8% 46% 8% < 4 15% 10 48% . 106% 14% . B0 43 4 10214 32% 59% 9033 85% 92 70 100% 95% 89 21% 51t 53 71 58% 431 10% 68% 46% 8% 4% 15% 10% 48% 107% 15% 51 Low. Close. 30% 62% 17% 118% 116 304 % 17T% T 230 26% 24 661 41% 107% 117% 335 28% 97% 68 9% 90 110 424% 102% 32% 5914 % 96% 20% 20 85 92 70 100 94 87% 20% 50% 52% 6914 6Ms 42% 10% 68 46 8% 4 15% 10 4% 106% 14% 50 30% 83% 17% 113% 116 24 40% 24% 21% 901y 27% 85 92 70 100% 95 89 21% 50% 53 71 58% 434 10% 68Y; 46'% 8% % 15% 10% 48% 107% 15% 50% 10% 10% 10% 10% REACTIONARY TONE | Coxoex vorx BONDS o excnsver] Received by Private Wire Direct to The Star Office. IN BOND MARKET Foreign Issues , Sag—Rails Work Lower—Oils Show Special Strength. BY GEORGE T. HUGHES. Special Dispatch to The Stas NEW YORK, June 5.—Reactionary tendencies prevailed in today’s bond market, but the movement did not go far and there were individual points of strength. The feature of the United States Government bond list was the equalling by the Treasury 4%%'s of their high point of the year of 107. Much interest is taken in terms of the Treasury financing due on June 15. Opinion predominated that the Secretary would offer an additional issue of long term 4's. Foreign Group Heavy. In the foreign group the heavier tone was pronounced, not alone in French bonds, which might have been expected to sell oft in sympathy with France's exchange, but in Bel- glan lssues as well, German Ts, on the other hand, were strong, making another new high for all time at 98, while Austrian 7s also crossed 99 for the first time on this movement. Profit-taking brought about a re- cession in the Hungarian 7%s, which had such a_sharp advance earlier in the week. Even the strictly invest- ment United Kingdom 5%s of 1937 sagged below 107. Domestic Issues Uneven. The chief incident in the rails was the sudden run-up of 3 points in Nor- folk Southern 5s. Convertible oil bonds went along with their respective stocks. Local tractions were mostly lower. So were International Mercan- tile Marine 6s, and nearly all the su- gar bonds, although here losses were comparatively slight. Among the day’s new issues was $939,000 City of Miami Beach, FI 53%s due serially to yleld from 4 to 4.60 per cent. BIG ROADS DENY BIDDING FOR SMALLER CARRIERS NEW YORK. June 5 (®).—Recent activity in the shares of the Reading, Jersey Central and other small East- ern raflroads has revived reports that the trunk lines were bidding for these carriers in the open market. This theory was discredited by the presi- dent of one of the big four systems, who declared the trunk lines had no intention of paving fancy prices for other roads involved in their consoli- datfon plans. Gradual progress toward regrouping the Eastern carriers was being made along plans already agreed upon. he sald, and there would be no contests for control. . DIVIDENDS. Pe. Pas- Company. Rate, riod. abie Am Ta Fr'Fire En. Do pfd.. Am Pub Ser AUPVE 1255 i Do.“6% pia. Jordon Motor wighnd S Be: pira Do, pd.. Mo Pow & Lt pid.. NAmL & Pptd.. North N Y UtilL.. 3% Tt pr lst ot Owens : Hellococctoocoo coflciecocccoe GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Bid Ger Gt (win) 5s 1014-18 £00.00 Hambury 6 s 1018, X R e & upted o gollacs s thorg Ger Gen Elec 458 1010, Berlin_4s pre-war, ¥ Ham 3s, 3348 & 48 pre-w Hamburg Amer Line 435 e et North German Lioyd. ... Prussian Consols 3% Krupp 5s 1021. .. SR TEL P T Munich 4s pre-war. . Badische Anilin. Tide Wat Of1(4). Timken R B(t4). 40% Tobac Prod (6).. 178% Tob Prod A (7).. 100 Transcont Ofl... 4%. Underwood (3).. 44% Un Bag & Paper. 52 Union Ofl (1.30). 87% Union Of1 (1.80). ¥% Un Pacific (10).. 187% Un Pacific pf(4). 74% Utd Alloy Steel.. 26 Utd Cigar(13%). 68 United Drug (6). 121% U S Cast Iron P.. 162% USCIPDf (7)..100 U S Distributing. 34% U S Hoft (2) 3415 U S Ind Alcol 874 U S Ind Al p!('l) 118 U S Realty (8)... 127% U S Rubber. 46% U S Rub 1st (8) . 101% U S Smelting(3). 35 U S Steel (17)... 114% U 8 Steel pf (7).. 123% U S Tobacco (3). 54 Universal Pipe. . Untiver P pf (7) 35 kid Vanadium..... Van Raalte. 143 145% 40% T9% 100% 5% 4416 b52% 3T% k3 137% 74% 26 68% 122 164 100 34% 34% 88% 113 130 46% 101% 35 114% 123% 56 36% 8% 27% 22% 4% 15% 119 13% 28% 6674 49% 16% 507% 104 132 110% 13% 19 41% 1% 133% 101% 2% 10% 22% 15% 29 27% 0% b 4% 20% 102% 5% 138% 40% 24% 52 143 % 100 4% 42% 51% 374 Y 137 T4 26 66% 121% 159 100 34 34% 87 113 127% 45% 101% 35 113% 123% 54 34% 7 27% 22% 4% 15% 118 13% 27% 65% 48 16% 50% 104 130 110% 18% 19 41% 91% 138% 100% 1% 10 22% 14% 28 26% 69 % 4% 19% 5% 135 39% 52 38 65 144% 401 79 100% 4% 43% 51 3% Y 137% T4 26 68% 121% 163% 100 34% 343 88% 113 130 45% 101% 35 114% 123% 55 364 8% 21% 22% 44 15% 119 13% 28% 66% 48% 16% 50% 104 132 110% 18% 19 -41% 9% 133% 101% 2% 10 22% 15 29 27% 0% % 4% 19% 102% 5% 137% 40 24% 52 38 65 s s s s s Wabash pf A(5). Wabash pf B. ‘Waldorf (1%)- Ward Baking B.. ‘Ward Bak pf(7) West Pen (4). . W PaPow pf(7). West Maryland ‘West Md 2d pf. Westn Pac (58) .. Wesn Pac pf(6a) West Unlon (7). ‘West Alr Br (6) . Westinghse (4) Weston Elec. ... Weston A (2)... Wheel & L Erie.. Wheel & LE pf.. White Eagle (2). White Mot (4) . ‘Wickwire Spen. Wickwire ctfs. Willys-Overld . Willys-Od pt(7). ‘Wilson & Co Woolworth (3).. ‘Worthn Pump. Wright Aero(1). ‘Wrigley (13%). Yellow C (2.52).. Youngstown (4) . *0dd lots. #Partly extra. 38 65% 65% ravable in ue!eml stock. above \table on_the ly "dectarations, extra o epecial dividends are mot included. UNITED STATES BONDS. (Bales 1o in $1,000.) Sales. High. Low. Lib3%s... 75 1011 10029 Lib 1st 43%s 286 10213 102 10 Lib 2d 4% s. 104 10111 1019 Lib3d 43;s. 68 102 10129 Lib 4th4%s 198 10217 10216 U'S4s1944. 100 102 21 102 16 US4%s’'52 231 107 106 18 FOREIGN. Close. 101 29 10213 101 10 101 30 102 16 102 21 106 30 Sales. High. Low. Close. Argentine 6sA.... Argentine 6s B Argentine 7s. Austria 7s 107 38 96Y% 96 102% 99% 100 884 96 109% 107% 109% 96 96 102% 9875 100 87% 96 109% 107% 10944 95% 85 834 974 100% 102% 104 103% 101 102% 109 47 101 110% 90% 984, 100% 9945 9943 109% 102% 110% 4 100% 1008 10214 10235 88% 96% 93ty 90% 9815 102% 97% Belglum 6s. ... Belgium 638 w 1. . Belgium 7%s Belgium 8s. Berne 85 Bolivia 8s. .. Bordeaux 6. Brazil 7s. Brazi] 8s. . Canada 55 1926 Canada 55 1931 Canada bs 1952. . .. Canada 5%s 1929. . Chile 75 1943. Chile 85 1926 Chile 85 1946 Chinese Gov Ry 5. Christiania 6s. . ... Christiania 8s..... Con Pow Japan 7. Copenhagen 5%s. . Cuba 56s. . Czecho 8s 19 Czecho 85 1952 ¢ Danish Munic 85 B. Denmark 6s. Denmark 8s. DEI5%s Mcl DE15% Dutch Dutch East I 6362 Finland s f 68°45. . Finlands Framerican 718 French 7s. . French 7%s. French 8s. .. German 7s. .. Ger Gen Elec 7s. Greek 7s. Halti 6; Holland-Amer 68. Hungary 6%s. Japanese 4s Japanese 61is. Jergens U M 6547, Lyons 6s. Marseille 6s. ... Mexico 4504 asnt. Mexico 45 '1 Mexico 5s a Montevideo Ts 24 11 9 14 10 Norway T Norway 68 1944, Norway 65 1952. Norway 8s. i Ortent Dev'deb s Paris-Ly’s-Med 6s. Parls-Ly's-Med Ts. Paris Orleans 7s. .. Poland 6s "40. . . Poland 8550 wi. Prague 7%s. ... Queensland 6. . Queensland 7s. Riode Jan 8s 1946. Rio de Jan 85 1947. Rio Gr Do Sul 8s Sao Paulo City 8s. . Sao Paulo State 8s. S Paulo St 85 w Seine Dept cf 7 Serbs Crot Sio Solssons 6s. . Sweden 53s cl Swiss 538 1946, Toklo 5s. . Ud Kingm 5 Ud Kingm & Zurjch 8s o X aSeRonceBRvmans =29 5°37.116 3 MISCELLANEOUS. Ajax Rubber 8s 1 101% 101% Am Agr Chem 53... 64 102% 102 Am Agr Chem 73s. 19 108% 103 Am Chainsf 6s'33. 1 98% 98Y% Am Cotton Oil 55.. 49 95% 95% Am Smit& R 1st5s 25 98% 9815 Am Sug ref 8s..... 40 102% 102% AmT&Tecltrds.. 52 97% AmT& Tecltrss.. AmT&Tsf5s Am T & T deb s AmT& Tcvbs.... Am Water WKs Gs. Anaconda 1st 6s. Anaconda cv db 7s. Andes 7s 25% pd. . Armour & Co 4% Armour Del 5%s. Associated O11 6 Atlantic Refin 55 Barnesdall s £ 8 Bell Tel Pa 5s. Beth Steel pm 58 Beth Steel rf 5s. Beth Steel 5%5 63. Beth Steel s { 65. .. Brier HSt 1st 5%s. 1 Bklyn Ed gen 55. .. Bklyn Ed 65 B. Bush T Bldg 68 00‘ Cen Leth 65 '45 cfs. Chile Copper 6s. Col Gas & E15s. ... Col Gas & El 55 sta Commonwth P 5. . Con Coal Md 1st 6. Con G NY 5%s wi Consumers Pow b: Cuba Cane cv 7 Cuba Cane cv d Cuban Am Sug 8 Denver Gas b Dery (D G) Ts. Det Edlison 68 '40 Det Edison ref 6s. . Dodge wi 6s.... Du Pontde N 7% Duquesne Light 8s. Est Cuba Sug 7%s. Empire G & F 7%s. Goodrich 634s..... Goodyear 85 1921.. Goodyear 8s 1941.. Hershey 65 1942. .. Humble O & R 5 %5 Illinois Bell 1st 6s. Tllinols Steel 4% Int Mer Marine 6s. Inter Paper 5847, Inter Paper 6s. KCP&Lt5s A'S2 Kan G & El 68°52. . Kelly-Spring 8s. . Lackawa S 58 '50. Lacl Gref 58'34... Laclede G 5%s '53. Liggett & Myrs 5s. Lorillard (P) bs. ... Loulsv G & E b5 '62 Manati Sug s 7%s Mid-Con 63%s. '40 Midvale Steel 5s Montana Pow b Mor's & Co 15t 4%s New Eng Tel bs... NYEAdbs 44 wi. . N Y Eden 1st6is NYG EL H&P 4s NY Tel 4%s. N Y Tel 68 '41. N Y Tel 65°49. North Am Ed 6s North Am Ed 81s. Nor Ohfo T & L 6s. Nor States Pow 6s. 50 Nor States Pow 6s. Otis Steel 8s. . Pacific Gas & E1 5s. 42 PacT&T 1stbs... 1 PacT& T 58°62... 65 Pan-Amer Pete 6s. 212 Pan-Amer Pete 75. Phila Co 5%s38... PhilaCoref 6sA. . Phila& RAC&16s Plerce-Arrow 8s. .. Public Service 6s. . Pub Serv Elec 6s. . P Serv Gas 5% P Serv Gas 545 '64 Punta Alegre Sharon St! 2 106% Sincialr Off 65.....154 112% Sinclair Ol 6%s... 29 884 Sinclair Ofl 7s. .16 92% SinCOPL 6s 9 100% Stn Pipe Line 5. Skelly Ol 6% South Bell Tel Ss. . 9415 100% 102 105 96% 100% 106% 101 101 102% 824% 104% 99% 95% 100% 108 95% 7 101% 107% 98Y% 1084 106% 104% 104% 105 109% 120% 104 1017% 101% 95% 86% 928 97% 100% 103% 101% 93% 101 101% 1004 97% 98% 100% 9714 92 100 84% 100% 101% 116 90% 98 108% 110% 101% 105 95% 98% 104% 102% 98% 101% 99% 111 106% 99Y% 104% 4 100% 103 . 99% 106% 104% 104% 105% 108% 110% 87 92% 100% 8T% 115 101% 101 103% 8 103% 103% 1 105% Tenn Elec Pow Tide Wat Ol 6% 967% 96 102% 99% 100 88 95 109% 107 109% 95% 100% 102 105 96% 100% 1064 101 101 102% 82% 104% 99% 9515 1007% 108 95% 7% 101% 107% 9814 108% 106% 104% 104% 105% 109% 120% 104 101% 101% 954 86% 92% 9744 1004 103% 102 93% S 101% 101% 100% 7% 99 1007% 97% 92% 100 847 100% 101% 115% 90% 98 108% 110% 101% 106% 96% 98% 104% 102% 9814 101% 99% 1128 106% 99% 104% 100% 108 99%; 106% ; 105 105 105% 106% 112% 881 92% 100% 87% 116 1014 101 103% 108% Sales. High. Low. Close. Toledo Edn 15t 7s.. 8 109% 109% 109% Union Bag & P 6s.. 11 97% 9T United Drug 6s 2 103% 103% USRubistrfbs, 62 89% 89 U S Rubber 7%s 2 106'% 106'% USSteel s £5s.... 66 105% 105% Utah Pow & Lt 5s5..102 98 97 Va-Car Chem 7s 20 97% 97 Va-Car Ch 73%s 21 69 fo% Warner Sug 7s '39. 821 82, WestElec5s...... 8§ 100% 100% Westn Unfon 6%s. 2 111% 111% Westinghouse 7s. . 107 106% Wickwire Spen7s.. 3 83% 83% Willys-Ov 6%5°33. 19 102 101 Wilson & Co 1st 6s. 11 99% 9 Wilson & Coev6s.. 1 68l Winchester A 7%s. 3 101% 101% Youngstn S & T 6s. 65 100 997 RAILROADS, Ann Arbor4s...... 4 72 % Atchison gen 4s 23 92 91% Atlantic C L 7s. 3 1074 107% 5 100 10081 10 91 90% 25 941 94k 12 91% 90% 30 103% 103% . 10 103% 103% 73 103% 1035 4 884 884 10 TP T 140 90 89% 6 86 86N 2 1167% 116% 52 BO% 80% 3 101% 101% 36 107% 107% 12 1035 103% 1 894 89% 24 98% 98 3 92% 92% 36 106% 106% 8 524 524 15 103 102% 12 4 46 7 56 22 rf imp 6s. PLEWYV 45 Bklyn Manhat 6s. . Buff R & Pitt 4%s. Canad North 7s. ... Canad Pac deb 4s. . Car Clinch & O 5s. Car Clinch & O 68 Centof Ga6s.... Gentral Pacific 4s. . Ches & Ocv 4%s Ches & O gn 4%s. . Ches & O cv 5s. ... Chi & Alton 3%s. Chi B & Q 1st rf 53. CB& Q-TiIl 3%s. Ch1 & E1gn5s. Chi Great West 48 C M & Puget Sd 4s. M&StP4s'25.. 76% 66% 65% 51 50% 51% Pcv4l%s.125 Prf4l%s. 60 20 51% 51 5 103% 103% 95% 95% 17 6% 88% 88U 861 861y 100% 100 99% 99% 104 104 106% 106% 99 96% 8 91%~ 913 ¢ 107% 107 841 8416 S 985 58's 50 « 904 (‘(‘(‘&SlerfisA Cleve Term 6l%s. C&S1st 45 Colo & Sou 43 Cuba RR 6s. Del & Hd 1st rf 4s. Del Hud cv 55 '35 Den & Rio G cn 4s. D & Rio G imp 5. D & Rio G Wst 8. Des M & Ft D 4s. Det United 4 3%s. Erie 15t cons 4s. Erle gen 4s. .. Erie conv 4s A Erie & Jersey 68 FlaEC5s'T4..... Gr Trunk sf db 63 Great North 5s. Great North 3%s.. Gr North gen 7s... 23 G Mob&N 53 sB '50 10 Hud & Man ref 5s.. 26 Hud & Man aj 5s. 13 111 Central 51 1 G- 5t L&N g5 58 Int Rap Tran 6s... 36 Int Rap Tr 5s slpd 53 Int Rap Tran 6s. Int Rap Tran 7o, . 29 Int& G Nor 1st 6s. 6 Int& G Noraj6s.. 31 Iowa Cent rf 4s.. 2 Kan City Ft S 45... 19 Kansas City S3s... 4 Kansas City § 5s... 31 Kan City Term 48.. 2 Lake Shore 48 '28.. 27 Lake Shore 4s°31.. 13 Lehigh Val 55 2003. 5 Louis & N uni ds... Louis & Nash 53s Louis & Nash 7s Manhat Ry cn 4s. . Market St Ry 78 Mil El Ry & L 5s. M&StLlstreds. . M&StLrfexss. . M St P & SSMcn 4s M StP & SSM 6%s. MK&T st 4s. MK&T4sB. 43 MK& Tadjbs.... 41 MEK&TprinssA. 22 MK&T6sC. 34 Mo Pacific gen 4 16 Mo Pac 5s 1965 8 Mo-Pac 5s 192 10 Mo Pacific 63 Montrl Tm 1s' 1 70 Vassau E Ry 4s '57 w Or Term 4s... O Tex & M in 5s. N O Tex & M5sB.. NOT&M5%s. . NOT&Mb5%sn. N O Tex Mex 6 N Y Cen gen 3%s. N Y Cent deb 4s. N Y Centcn 4s '38. NYCentribs N Y Cent deb 6s. N YCentLScl3%s 7 NYChi &St L5%s 34 NYC&StL6sA.. New Haven cd 63 NY Ont W 1st 4s. N Y Ry rf 45 ctfs. NY Rys 65'65.... NY W & Bos 4%s.. Norfolk & W cv 6s. Northern Pac 3s Northern Pac 4s. Northern Pacr { Ore & Calif 1st bs.. Ore Short L ref 4s Pennsyl con 4148 Pennsyl gen 43 Pennsyl gen bs. Pennsyl 5564, .. Pennsyl 6%s. Pennsyl gold 7s. . .. Pere Mrq 1st 45 '56. Pere Marq 1st 58. . Por RL &P 65 '47. Rio G West 1st 4s.. Rio G West cl 4s. RIATk& L 4%s. St L IM&S 4529 St L IM&S R&G 4s. 9% 107% 8414 o 58% 50 90% 720 6314 66 105% 96% 1077 95 101% 110% 1025 9'1_‘: \02‘! s 100% 684 677% 19 1 5 5 79% 95 86 101% 109% 7% 9% 108% 92 6915 51% 30% 674 129 " 61% 86% 106% 101 9% 99% 93% 102% 9% i 110 108 8d% 100% 99% 87% 5% 89 96% 89% 1% 92 100% 1% 88% A 102% 90% 87% 1% 81% 944 97% 91k 79% 103% 106% 110% 101% 102 57% 41% 86% 100% 87% 99% 107% 100% 98% 101% 974 86% 95% 84% 6% 73% 66 80% t L t L t L t L StL StL SF SF SF SF SF SFplés C St LS Wecon4s'32. StP & KCShL 4%s Seabd A Lref 4s. . Seab’'d A L adj 5s. Seab'd A L con 6s. Sou Pacific 45 '29.. Sou Pacific ref 4s. . Southern Ry gn 5. Southern Ry 1st bs. Southern Ry 6sct.. Southern Ry 6%s Term Asso St L 65s. Texas & Pac 1st 5s. Third Ave ref 4s. Third Ave adj bs. Tol StL & W 4s Toledo Trac 6s. Union Pac 18t If 45. Union Pac 45 "27. Un Pac 1st rf bs. Virginia Ry 1st &3 Va Ry & P 1st 5 ‘Wabash 1st 5s Wabash 5%s'75. ‘Western Md 4s | Western Pacific West Shore 1st 4s.. Wheel & L Ecn 4s. Whel & LErfd%s 6 | Wilkes B&E 15t 35. 1 ‘Wisconsin Cent ¢s. 10 STOCK SPLIT-UP DELAYED. NEW YORK, June 5 (#).—Although directors of the S. S. Kresge Co. have considered a split-up of the stock -for some time past, no decision has yet been reached, Chairman Kresge sald today. Sales should exceed $100,000,- 000 in 1925, he asserted. The com- pany's expansion program calls for about 40 new locations this year. & & & & & & s “|the wheat market FINANCIAL. Chicago Building Activity Smashes Former Records Special Dispatch to The Star. CHICAGO. June 5—The May total of $42,051,450 in building per mits issued for Chicago construc- tion is about the largest on record for that month. Permits for the first five months of the year totalled $164,328,000. This con- structfon program provides hous. ing for 70,000 persons. WEATHER SENDS WHEAT SOARING Crop Damage Due to Dry Spell and Heat Also Lifts Corn and Oats. By the Associated Press. CHICAGO, June 5 and much higher p Active trading ices developed in today as soon as business here began. Hot, d weather, unfavorable for Wwh growth, was widely prevalent, and for ‘l)' first time of late the Liverpool market gave evidence of having fully ened to reports of severe Crop damage in the United States. Sep- tember and December deliveries here both touched new high price rec- ords for the season. Chicago open- ing prices, % cent to 4% cents high- er, July 1569 to 1.70% and September o 1.661, were followed by an additional upturn that carried July to 1.70% and September to 1.67%. Corn and oats weht up with wheat Buying was based largely on the ground that a short crop of wheat would necessitate substitution of all other grain. After opening at half cent to 4l-cent gain, September 1.18% to 1.18% and December 99 to 1.023;, the corn market steadied at around 1.17% for September and 1.00 for December. Oats started at %a2 cenf® up September 51 to 51%, and later showed further gains. In line with hog values visfon market was firm. WHEAT— Open. High 1600 170% Juiy September 1655 168 Deben COR; July September December CATET Jul Lepterber December . RYE— ‘L“U., e Debember TARD July September Octoher .. RIBS— Jaly - September the pro- 1 1 1 L1TH 1 1. 1 GRAIN AND PBOVISIOHS BALTIMORE, Md., June 5 (Special). —Potatoes, per 100 pounds, 1.00al sweet potatoes and yams, bushel, 1.50 a3.00; new potatoes, barrel, 2.50a6.00 asparagus, dozen, 1.25a3.50; beans, a4.25; beets, 100, 3,00a4.00; cabbage, 2.50a3.00: kale, 2.50: cucumbers, , 3.00a3.50; Spring peas, bushel, 1.25 25a1.00; onions, crat: onions, 100, 1.00a1.7 . 3100a4.00; spinach, bushel, " squash, crat 1.50a3.00; tomatoes, crate, 1.50a3.50. Apples, packed, barrel, 4.00a9.00: bushel, 1.50a3.00; grapefruit. box, 3.50 ab strawberries, quart, 15a25 oranges, hox, 6.00a8.50; pineapple crate, 2.50a4.00; peaches, crate, 1. 2.75: blackberries, quart, 8al5; canta- loupes, crate, 2.50a6.50. Selling Prices at Noon. Wheat—No. 1 fed Winter, spot, ex- port, no quotations; No. 2 red Winter, spot. domestic, 1.88%: No. 2 red_Win. ter, garlicky, domestic, 1.88%%; No. 3 red Winter, no quotations. Sales—None. Corn—Cob, new, vellow, spot, 6.50a 6.75, nominal, per barrel; track yellow, No. 2, 1.31 bushel. Sales—Nine hundred and sixty-seven bushels of No. 2 yellow, by vessel, at Hay—Recelpts, 70 tons. The local hay market is well supplied with all grades excepting No. 1 timothy, and the local demand is quiet. Tone of the market is easy Low grade and in- ferior hay is hard to move and of irregular value. Quotations today—No. 2 timothy, 17.50218.00; No. 3 timothy, 14.50216.0 No. 1 light clover, mixed, 17.00a17.5 No. 1 clover, mixed, 16.50a17.00; No. 2 clover, mixed, 14.00a15.00. Stmv_\'—No. 1 wheat, 15.00a15.50 per ton; No. 1 oat, 15.50a16.00; No. 1 straight rye, 18.50a19.00. e CHICAGO LIVE STOCK MARKET CHICAGO, June 5 (United States Department of Agriculture).—Hogs— Recelpts, 22,000 head; slow, mostl steady to strong; underweight dull, weak; big packers inactive; bulk bet. ter grades, 240 to 325 pound butchers, 12.15a12.35; top, 12.40; majority 180 to 210 pound weight, 12.15a12.30; 140 to 160 pound averages, mostly 11.65a 12.10; bulk packing sows, 10.90a11.3 strongweight slaughter pigs, largel 11.25a11.50; heavy-weight hogs, 12.05a 12.40; medium, 12.05a12.40; light, 11.70 al2.35; light light, 10.75a12.15; packing hogs, smooth, 11.00a11.40; packing hogs, rough. 10.65a11.00; slaughter pigs, 10.50a11.60. Cattle—Receipts, 3,000 head; fat steer trade spotty; steady to weak largely catch-as-catch-can trade: in- between grades vearlings predominat ing; no choice offerings here; one load of youngsters, 11.40; several strings, 10.65a11.00: bulk fed steers and year- lings, 8.75210.50; most offerings under showing grass: better grades fat cows ang. heifrs steady: very scarce: no reliable outlet for plainer grades, canners and cutters and bologna bull: bulk of latter, 5.00a with 5.50 quotable for best bolognas: vealers uneven; outsiders _taking choice offerings at 10.50210.75; light Sheep—Receipts, 9.000 head; tnlrly active; fat Jambs fully s generally steady;~ sheep »(end) weak; no feeding lambs sold; one deck of choice Idaho lambs 1550 to city butchers; balance of three-car string 15.40, with moderate sort; few deck native lambs, 15.00; some held at ; odd lots of fat native ewes, 6.00 heavies downward to 4.00. EXCHANGE SEATS SOLD. Stock and Cotton Membership Prices Are Unchanged. EW YORK, June 5.— The New York Stock Exchange membership of Newton E. Stout, deceased, was sold vesterday to Henry Thompson Bush- nell for $106,000, unchanged from the previous reported sale. The member- ship of Ralph L. O'Hara, deceased, was sold to Alfred M. Morris for $106,000. The New York Cotton Exchange announced that the membership of the estate of John R. Tolar had been sold to W. L. Harriss, for another, for $29,500, unchanged from the pre- vious reported sale. | | | | AGRICULTURE BANK CUTS FIRST ‘MELON Potomac Joint Stock Land Institution to Pay 3 Per Cent on July 1—Notes. BY CHAS. P. SHAEFFER. fal dividend of 3 per July 1 to 1ders June 2 s heen declared directors of the Land Bank. I tion for the y An payable cord in cent, ot stockh Potomac Joint St nir the ar thu s for the legal r warranted placing the a dividend-paying althe h no figures were made lic. The dividend will to there being $250,000 of cap; The financial report « presented to directors, testified very prosperous condition with in excess of s organized about rs the purpose of nmm & Agr tural loans on Maryland andVi fa farmland through the medu long-term first mortg: It successful from the beginnt dreds of farmers availing ‘h of its borrowing facilities which to the agricultural con Years to rehabilitate itself the loans, Joseph E. was adde of insti serve institution « basis it was s: total It azo 00 Wilmer of La Plata, M o the board of e b to fill the vacancy caused |‘r r':/ e of R. Laurie Mitchell Riggs National Bank stock was the feature of today’s session on the | board, being aded in to of 185 shares and enjoying an which carried it to 340, of 4 points. The closing figure, ever, is about 13 points below high level established a couple months ago. Commercial Natio Bank also shared in the upturn shares selling at 163. The remainder of the session was quiet and uninteresting. « tion eased off slightly to Washington Gas to 58 on shares. ~ Lanston Monotype was tn changed at ¥3. Bonds were rather in. active at high levels. Much Lower Valuations. Tentative valuations announced to- day by the Interstate Commerce Com- mission for two which have financial difMculties indicated harp reductions under the ex ng authorized capitalization of the porations. The Minneapolis and St road, which operates 1 line in the Northwest, now under re- ceivership, 1s capitalized at $71,294,300, and, with a book investment s of $68.419,760, was valued at 944.428. The Missouri and North Arkanses system, which was given Govern- ment aid, was assigned a valuation of $9,177,506. Its authorized capitali- zation is $22,720,408 and its {nvestment account is $18,286,257. State and City Bond Sales, Unusually heavy sales of State and municipal bonds in May places the total for the first five months of the vear well bevond the half-billion-dollar mark. Including the $60,000,000 New York City ssues, the May figures are $174.707,276, and the five months tal $587 53. In 1924 ‘the big month was Juns with total bond issues of $286,507,401, With all indications pointing to flota. tions this June at least $100,000,000 under last Year's huge total, it is ex- pected that the volume of new State and municipal issues for the first half will show a decline from the he Moody's Weekly Review. Mood’s Weekly Review says in partt “Existing investment confidence is based largely upon the favorable poli- tical outlook. It is quite gratifying that the political horizon, foreign and domestic, is almost cloudless. “In Europe we witness the strangs spectacle of Premier Painleve holding out the olive branch to Germany; and the general rapprochment of Euro. pean powers still procee: At home there is no sign of a revival of radi- calism, and Great Britain is liquidat- ing her socialistic experiments. “Money and capital remain so cheap as to tend toward higher security prices. Commercial paper discounts ordinarily harden at this season, but they are now actually declining a lit- tle. Until banks have some oppor. tunity to switch into commercial pa- per without loss of yield, they are more likely to increase than to dimin. ish their bond holdings. ““Crop news will soon become a finane clal factor, but under the peculiar cir. cumstances it is not vital whether the crops are large or small. Until th® earning power of agriculture recovers to & parity with the earning power of other industries moderately small crops and high prices are compara~ tively harmless.” A. & P. TEA COMPANY ADOPTS NEW PLAN Five Divisions Formed to Handle Business—Stock Offered to Employes. Special Dispatch to The Star. BALTIMORE, June 6.—Reorganiza. tion of the Great Atlantic and Pacifia Tea Co. into five divisional operating companies, controlled by a parent holding company, was announced at the company’'s Baltimore office yester. day. The holding company will be in. corporated in Maryland, according to C. S. Lacey, Baltimore sales manager. The parent company to be incorpo. rated here will hold the stock of tha five regional operating companies un- der the reorganization plan. Baltimore and Washington are in- cluded in the Southern division. Each of the divisions will be under an oper. ating company, which will in turn be controlled by ‘the parent company. Last year 12,000 stores owned by the operating companies did approximate- 1y $350,000,000 worth of business, the company announces. This volume of business and the dee sire of the company to permit its eme ployes to share in its profits are given as reasons for the reorganization. Un. der the reorganization plan all eme ployes will be allowed to subscribe to common stock to 10 per cent of theinp last year's wages. DAIRY PRODUCTS. BALTIMORE, June 5 (Special).— Live poultry—Spring chickens, pound, 35a50; Leghorns, 28a40; old hens, 23a 28; Leghorns, 23a24; old roosters, 16 ducks, 18a22; young ducks, 28a38} pigeons, pair, 35a40; guinea fowl, each, 50a75. Eggs—Receipts, 1,004 cases; native and nearby firsts, dozen, offered at 30, Butter —Good to fancy creamer pound, 40a45; prints, 45a47; ladles, 30a 31; store packed, 28; dairy prints, 28a 30; rolls, 28a30; process butter, 34. BUTTER UNCHANGED. CHICAGO, June 5 (#).—Butter, changed; receipts, 19.053 tubs. Esss, highor; recelpts, cases; firstag 29%4a30%; ordinary m's!'s, 29; stora; wnk. extras, 32%; firsts, 31%. - une