Evening Star Newspaper, June 19, 1926, Page 28

- oz STOCKS STEADIER: BUYING CONTINUES U. S. Steel Runs Up Again, Gaining Two Points Easily in Short Session. BY STUART P. WEST. Special Dispatch to The Star NEW YORK, June 19.—The sharp watback which the market had at the alsge of business yesterday was fol- lowed today by a perlod of irregular fluctuations lasting through the first quarter of an hour. Further selling eccurred in speculative issues, but the Jist soon steadied and it was not long before the leaders had recovered quite & part of the ground lost ;i The sudden break yesterday was commonly set down as a shake-out after the market had become tem porarily over-bought. As soon as the speculative position had been suffi-| clently strengthened by the decline ihe buying forces reasserted them selves. United States Steel, which closed on yesterday at 13413, ran up nearly 2 points easily General Motors 3t one time gained ever 2 points, but subsequently lost a part of the advance Reading and Baltimore and Ohio were the chief performers in the rail way section. Thev moved so far ahead of any other members of the group that a special cause W readily suggested. Reading closed terday at 91% 1t was rushed up above 95 In the tradinz today. This meant much the highest prices of the vear B. & O. also. ahove 96, was sell ing at almost top fizures. The street continued to take notice of the rumor which has been around for some time that B. & O. and Reading are going to get together in a closer union as part of the expansion program of the former. Union Oll of California was up over 3 points and Mariand over a point. These were the features in the oil divigion. Public Service of New Jer- sev was the leader in its group with a rise of over 2 points. The food stocks continued in demand, especial- Iv Postum Cereal, National Biscuit and Ward Baking B Among special Issues there were higher prices for Woolworth, United States Cast Iron Pipe, Harvester, Con- =zoleum., rnational Combustion Gotham Hosiery, Foundation Co. and General Electric. * Markets at a Glance NEW YORK (#).—Stocks, strong rails advance on earnings report anc forecasts. Bonds. mixed; foreign issues in demand by small banks Foreign exchanges, firm: Spanish P rally 15 points. Cotton, high- | er: rains Texas. Sugar and coffee holiday. WALL STREET BRIEFS NEW YORK. June 19 (#).—Marked FINANCIAL, ° . : s THE EVENING STAR, WASHINGTON, D. €. SATURDAY, JUNE 19, 1926. NEW YORK STOCK EXCHANGE Open 1% 8% 115% 9% High 11% 8% Adv. Rumley. Ahumada (41).. Afr Reductn(15) Ajax Rubber. ... Allled Chem (4). Allis Chalm ). . Allis Chal pf (7) Amerada (1.60). Am Agricul Chm Am Agri Chpf. . Am Bosch...... Am Brake Sh(8) Am Br Bov Ei(2) Am Br Bo pf (1) Am Carg&Fdy (6) Am C & F pf (1) Am Chatn A (2). Am & For Pow. . Am & Fo P pt(T) Am Hide & Lea Am Hide & L pf. Am Internat!. .. Am Locemot (8) Am Metals (4).. Am Po&Lt (g1). m Ship & Com . Am Sm & Ref (7} Am St] Fdys (3) Am Sugar (5)... Am Sugar pf (7) Am Sumat A cfs Am Tel & Tel(9) A Tel& Teleg rts Am T)bacco (8) . Am Wa Wo ¢1.20 Am Woolen. . Am Woo! f (7). Am Writ Papf. . Anaconda (3) Archer-Danla's. Armour of TII(A) Armonr of 111(B) Atchison (7). At] Birm & At. . At]1 C Line(t913) At Guif & WI.. Atlantic Refing.. Austin-Nichols. Raldwin L (7). Balto & Ohto(5) . Bang & Ar (3).. Barnsdall A (2). Beech-Nnt (13). Belding Bros(3). Bethlehem Steel. Beth Stl pf (7).. Bloomingdale. . . Booth Fisherl Briggs Mfg (3). BkIn-Mn Tr (4). Bk-Man T pf(6). BkIn Un G(t11) Buff Roch& P(4) Burns Bro (10).. Burns Br B (2). Bur Add Ma (3). Bush Terminal.. Butterlck. . Byer & Co. . Calif Packing(8) Calif Petrol(2).. Callahan Zine. .. Calumet& Ar(6). Calame&H(1%) Col Sou 2d pf(4) Can Pacific (10). Case Threshing. Cent Leather pf. Cen Ry NJ(112). Century Rib M 74 139 36% 934 305 31% 40 139% 32% 1% 680 14% 161 101% | Cerre De P (4).. Ches & Oh (112). Chi & Alton. ... Chi & Alton pf. Chi & East I11 Chi & East 11l pt Chi Great West. Chi Gr West pf.. activity in the castiron pipe industry s reported from the Birmingham dis- | trict, with all shops operating at vir tual capacity, shipments of pressure | pipe going ot as quickly as manu- | factured. New centrifugal shops fl:‘! Castiron Pipe are going Sloss-Sheffield Stel construction of aces in Birming- | pacity of 400 tons and 1wa new ham with of iron. Purchasing Sinclair Crude Oil ion on August | has called for redemy A $10.000,000 of its three-vear & per! cent gold notes. due February 1, 1928, | and is retiring an additional $500.000 | of these notes pur d by the conn | pany. The First Savings Rank. Chicago: National | Rank, New York, and National City Bank <. will make payments. Stromberg Carburetor 1 ave taxed to capacit oreign business being unusually good, | both inquiries and orders showing an increase, says C. W. Stiger, presi- dent. The London plant bas all the business it can handle “Depression talk® has been over done. in the opinion of H. S. Wilkin- | com. chairman of Crucible Steei Co. of | America. He underly condl- | jons were favorable and indicated a | zand volume of business the baiance | of the year Factories of ‘0. of Ameri iy AMembers of the Rubber Exchange of ! { New York have voted to take a three- dav recess over Independence day. e exchange will be closed on Satur- jav. July 3, reopening the following Tuesday. i i George F. Rand. president of the Marine Trust Co. of Buffalo, N. Y. Fugene V. Thayer and Harry T.g Peters, both of New York City, have ,een elected directors of Southern Dairies, Inc. Wall Street estimates of this V‘eal"! earnings of General Railway Signal o, indicate possibly $ a share on the common stock. based on \h_e teady expansion of incoming busi- ness. The common was split five for ne last yvear. The company is reported o have closed another large contract ‘or automatic train control installa- iton with a midwestern carrier, close- Iv approaching the $5.000.000 order hooked last vear for the New York Central. Denver dispatches to Wall Street say Continental Oil Co., has acquired a half interest in the C. Munoz jease on Rattlesnake Dome in the northwestern section of New Mexico, The company expects to run oil from Rattlesnake to Gallup through its 90-mile pipe line by July 1. WO0O0L M;RKE;T 7ACTIVE. Special Dispatch to The Sta BOSTON. June 19.—Quarter blood wools of ‘the grades used by top makers were more active and firmer today. Territory quarter-blood was quoted at 75 to 80 cents, clean basis, and quarter-blood fleeces at 43 cents in the grease. The market generally was quiet at the week end SOUTHERN DELIVERIES. NEW YORK, June 19 (P).—-New York Cotton Exchange, under its present charter, cannot legally adopt & system of Southern warehouse de- liveries in the opinion of George Gor- don Battle, who has asked for a state- ment by a member of the exchange on the much-discussed question. He said the suggested action would of- fend against the purpose for which the exchange was incorporated, inas- mueh as Southern deliveries would reduce the deliveries in the port of New York, and to that extent would decrease the amount of cotton trade in New York City. RUBBER LOWER. Spacial Dispatch to The Star. NEW YORK. June 19.—Crude rub- her, smoked ribbed sheets, declined i3 cent at today’s quotation of 44 cents. This compares with 47 cents a month ago and 70 cents a year ago. ce e e e BAR SILVER PRICE. NEW YORK, Jupe (#).—Bar siiver, 657 ; Mexican doilars, 5 Chi Mil & St P Chi Mil & St P pf C Mil & St P ctfs C Mil&StP pf cfs Chi & Nwa (4).. ChiR1& Pac CRI&PDpf(6). Childs (32.40).. Chile Cop (2%4) . Christie B (1.20) Chrysler Corp{3) Coca-Cola (7). Colo Southern. .. Colo Sou 1st (4) Col Gas & El (5) Col Carbon (4).. 63% Com Cred (2)... 28% 28% Com Solv B..... 164% 166% Congoleum-N. 19% 20% Congress Cgr(3) 41% 41% Consol Cigar.... 59% 5% Consol Distribut Consol Gas (5).. Consol Textlle Cont Can (16)... Cont Mot (80¢) .. Corn Prod (2). .. Crucible Sti (5). Cuba Cane Sugar Cuba Cane Su pf. Cuba Co (4).. Cuban-Am § Cuban Am pf(7) Cuban-Dom Sug. Davison Chem. . Mol & Hud (9) .. Del L & Wn (47) Dodge Bros Cl A Podge pf (7).... Dome Mines (2). Dupont (119). .. Dupont deb (8). 4 4 964 97 Eastman (18) Eaton Ax1e (2).. Fisenlohr & Bro. Flectric Boat. .. Flec Power & Lt fiec P& L pf(7) EP&LDL 40% (T) | Llec Refrig(12) . Elec Sto Bat(16) Emmerson Brat. End-John (5). .. Equitable pf (7) Erit 0. Erfe 1st Eureka Fairbanks (3). .. Famous Pl (10). Famous pf (2).. FedLight(*1.40) Fid Phoenix (8). First Nat 8(1%) Fisher Body (5). Fisk Rubber. ... Fleischmn(1214) Foundation (8). Fox Film A (4). Freeport-Texas. Gabriel A(t4%). Gen Asphalt. . .. Gen éunh v: 4 n Elec (¢ e Eleo (h)... 83% 864 Gen Flec sp(6 11% 11% Gen Motors (116) 143% 145% Gen Mot pf (75.. 118% 118% Gen Outdr Ad(2) b Gen Petrm (3).. Gen Ry Sig 14%. Gimbel Bros . Giladen (2)..... Gold Dust...... Goodrich Ru (4) Goodrich vt (7). Gothm S H (2%) Gotham pt (7).. Gould Cou (2).. Granby Consol. . Grt North pf (5) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan. Guantanamo. 7 Gulf Mo & Nor.. 385% Gu M & N pf (6) 104 Gult States S (5) 3% Hanna 1st pf.... Hartman (2%). . Hayes Wh(13%) Househd (13%). Houston Oil HudsonMan(2%: Hudson Mo(3%) Hupp Mot (1)... Tliinots Cen (T). Indep O11 (1).... Inland St (2%) Inspiration (2).. 23% Interurb Rap Tr." 464 Intconti Rub(1). 16% Internat Agri 16 in Ag C pr pf( 82% 824 Int Bus Ma (3).. 48 48 Int Coment.(4) g 5069 ! 3 Vac (4). 324 82% a2% 32% . 0% T0% (5). 110% 111 . 340% B44% 51% % 110% 110% 18% 20% % 224 94 16 22% 121 24% 40 23% 45% 16% 16 121 24% 40 | Int Com Eng (2) nt Harvstr(§).. Tnter Har pf (7) IntMteh pf(3.20) Int Mer Marine. | Int Mer Mar pf.. | Int Nickel (2)... Int Paper.. . Int Paper pf (7). Int Tel & Tel (8) | Int T&Teleg rts. Jewel Tex. ... Jordon Mot (3). Kan City South. KayserJ (3).... Kennecott (4). .. Keystone T & R. ge S8(1.20) Kresge Dep! §. . Lago Ol & Tran. Tambert (3%).. T.ee Tire & Rub. T.eh&:™ink stf(3) | Lenieh vat(ae) i TifeSav (1.60). Lima Loco (4) Loew's Inc (2) T.oose Wi e T.oose W 2d (7). Lorfllard(s). . Loutstanz O!1. .. Ludlum Stee) (2) M'CroryB(15.60) Mack Trucks (6) Macy HR & Co. Macy pf (7).. Magma Cop (3). Mallison & Co. .. Man B! Sun(414) Man F} etd (25). Maniia Elec (2). Manfla E'ec rts Market St prior. Varland Ofl (4). Martin-Pary(2). May Dept St (5) Mexican Seabd. . Miami Con (1) Atid-Continent Middle States. .. Miller R ctfs(2) Mis Kan & Tex. . Mo K & T pf (6) Missour! Pacific. Missourt Pac pf. Montana Pow (5) Montgom Ward Moon Mot (3)... Mothr Lode(75¢) Mo Picture(1%) Motor Met(3.60) Motor Whi (2).. Murray Body. Nash Motors. Nat Acme (sta). Nat Biscuit t41% Vat Cash Reg(3) Nat Cloak & Suit Nat Cloak pf (7) Nat Datry (3). Nat Dpt Stores Nat Distillers. Nat Lead (8). .. Nat Lead pf (1) Nat Po& Lt(40e) Nat Ry Mex 2d. at Supply (4). Nat Tea (4). Nevada Cop (1). N O Tex & M(T) NY Air Brake(2) NY Canners(c2) NY Central (7). NY Chi#StL(11) NYC&StL pf (8) NY Dock. NY NH & Hart.. NY On & West NY Rys part efs. Norfolk South Norfk & Wn (18) North A (B3.40). North Am pf(3). NthAm Ed pf(7) North Pac (5)... Norwalk (1.60).. Omnibus. Onyx Hoslery Oppenheim (3). . Orpheum Cir(2) Otis Steel....... Owens Rot (t4). Pacific Gas (8).. PacOfl (3)..... Packard Mot (2) Palge Mot(1.80) Pan-Am (6).... Pan-Am B (6).. Pan.AmWnB(2) Panhandle. ... Park & Til Pathe Ex (¢3). Penn C & Coke. Pennsy R R (3). Penn-Seab Steel. Peoples Gas (8). Pere Marq (18) . Pere M prior(5) . PhilaCo (4).... PAla&RC&I. Phillips Pet (3). Phoenix Hosiery Pierce-Arrow Plerce-Ar pf (8) Plerce Oll. .. Plerce Petrolm Pitts & W Va(6) Postum (4.40). . Prod & Refiners Producrs & R pf. Pub Ser N J (5). Pullman Co (8). Punta Aleg Sug. Pure Ofl (1).... Radio Corp of A. Ray Cons Cop (1 Reading (4).... Reading rts. Reading 1st (2). Reading 2d (2).. Remington Type Rep Iron & Steel Reynolds Spngs. Rey Tobac B(5). Royal D(a1.339) Safety Cable (4) St Jaseph L(13). StL & SanFr (7) St L Southwest. Schulte (88). . Seaboard Afr L. Seabd Alr L pf Seagrave(e1.20). Sears-Rn (2%). Shell Un (1.40).. Shubert Theatre Simmons ($2.25). Simms Pet (1) Sinclalr Oil. ... Skelly O11 ¢2). Sou Cal Edison. . South Port 8 (6) Sou Dairles A(4) Sou Dairles 3. South Pac (). Southern Ry (7) Splcer Mfg Std Gas&El (g4) Std G & El p2(4) Std Mill 5). Std Ofl Cal (3) Std Ol N J (1) Std Ofl NJ pf(7). Stewart War (6) Stromberg (€). .. Studebaker (§). Submarine Boat. Sun Ol (11). Superior O1l.. . Symington A(3) ‘Tenn Copper (1) Texas Co (3).... Tex Guif 8 (10). Tex & Pacific Tex & Pac C & 0 Third Avenue .. Thompson(3.60) Tide Water(14) Timken (14). ‘Tobae Prod (7). Transcont Ofl. Underwood (4). Un Bag & Paper. Un Carbide (5). . Unofl (2)... Un Pacific (10). Utd Alloy (2)... Utd Cgr St (E2). Utd Drug (8). .. United Fruit (4) USCIP&F(10) USCIPpE (7). U S Distributing US Hoffman 3% U S Ind Alcohol. U'S Realty (4) > Received by Private Wire Direct to The Star Office High. Low. Close | 564 1247 121% 85 8 384 3716 534 934 125% ke 4 1834 120% 13% 3% % 35% 308h 129% 1% 38% 17% 2% 72% 38% 384 184 9% 87 120% 103% 1174% 55 23 121% 64% 129% 1% 284 17% 2% 2% 3816 28% 56 1240 | 1210 | 65 | stock. 'BOND LIST FIRM INTRADING TODAY Prices Well Maintained Short Session—Foreign Group Active. in BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 19.—Prices were well maintalned in today's short ses- dfon in the bond market. The foreign group engaged the most attention. Investment buying was agaln active in the two leaders of carlier in the week, the Australian s and the Japanese 6lys. ‘The de- mand for the last named put the price up to another new high. Ger- man municipal and Industrial obliga tions held around ‘their recent high points, with Rhinelbe 7ls as the leader. There was an Initial recovery in French 7s of three-quarters of a point. The bonds had sold down sharply in the last hour yesterday, but rallied briskly at the opening to- day. On the other hand, Italian 7s dragged only & small fraction above the record low Some of the more speculative rails Qid better. One of the best supported was International Great Northern ad: justments, which more than recovered the loss on the week. Farnings earlier in the year have not been as good as expected, but the outlook is now better. Missouri Pacific issues also were strong. The 6s of both maturities sold at 107, which was their previous high and only a half point below their callable price. The feature in (n® high-grade group was another new 1926 top in tax ex- empt Liberty 3'ze. This, of course represented buying for accounts of investors subject to heavy surtaxes Another incident was the recovery of a point in Chicago Union Station's 414s. Against these the middle grade bonds, of the class of Kansas City Southern bs, were inciined to be re- actionary. ¥ Oil bonds were steady. Pan-Ameri- can Petroleum 6s advanced with the Steel bonds were firm. Youngs- town Sheet and Tube 6 sold almost at their best previous price. 1t was reported today that the East Bay Water Co. would call its 7' per cent bonds and its 5% per cent notes, refunding them with both stock and bonds. BUTTER GOES LOWER IN DEALINGS OF WEEK i By the Associated Press CHICAGO, June appearing last week market, especially at the Eastern markets where prices on the top grades declined half cent, was car- ied over into this week and further harp declines were effected at all markets. The development of the weaker tone is attributed to the re lease of the storage holdings and the general lack of buying interest for storage. Later in the week more buying and a slight improvement in the tone was apparent. Opinions of operators vary as to future trends, with many expressing the belief that the lower price level will stimulate consump- tion to a point where movement in.o consuming channels will be sufficient to prevent further declines. Others feel thet a heavy make of butter will follow and prices will seek a still lower level before the end of June. 19.—Weakness in the butter BETTER TONE NOTICED. Bradstreet's Finds Cool Weather Still Retarding_ Distribution. NEW YORK, June 19.—Bradstreet's today said: Cool weather is still retard- ing distributive lines, “but trade senti- ment has been helped by the improve- ment produced in crop conditions by good rains over a great part of the country. A somewhat hetter tone is noted, although current buying is rather quiet, with collections sluggish. Textiles and wearing apparel are par- ticularly difficult to move, automobile sales have fallen off and the furniture trade is rather quiet. In the Southeast needs further rains, and in parts of the Northwest it is not yet known whether the Spring wheat will be able to recover from the damage caused by the drought. The trade outlook in these sections Is therefore not as- sured. ‘ In the other cotton-growing States the crop is in very fair condition, with few reports of insect damage. A little wheat is already moving to market from the Southwest and bringing good prices. The railroads are said to be in excellent shape for handling the crops. Weekly bank «clearings, $9,899,051,- 000. ~ the cotton crop o 400 COMMERCIAL FAILURES. NEW YORK, June 19 (®.—R. G Dun & Co. reports an increase in com- { mercial failures in the United States this week, the total of 400, comparing with 378 the week before and 425 a year ago. MOUNTAIN PRODUCERS. NEW YORK, June 19 (#).—The re- port of Mountain Producers Corpora- tion for 1925 shows net earnings of $4,843,543, after royalties and ex- penses, but before depletion and Fed- eral taxes, against 36,420,493 after royalties, expenses and ta: but be- fore 'deple:lio‘n tl"l: year before.“;Jllv. idends n the year amoun 0 $3.443,47p;',| against $2,859,709 in 1924, Current assets were $11,836,782, against $10,454,639 the vear before. — e 128% 128% 9% 25% 3% s1% U S Steel pf (7). 128 ni Ple 1st pf(8) 934 Universal Pipe.. 21l Univ Pipe pf (1) 73% Utl P&Lt A(E2) 81% Vanadium (3)... Va-Car Ch ctfs.. Va-Caro Ch(n).. ‘Va-CasCh 6% pf .Vivaudou. B Wabash. - Wabash pf A(5). ‘Waldor? (1%) ‘Ward Baking B. ‘Warner Bros West Maryland. West Pacific. . West Union (8) . ‘West A Br(16%) Westinghse (4). Wheel & L Erle. ‘White Eagle (2) White Mot (4).. White Rock (2). Wickwire ctfs. . Wwillys-Overland Willys 0d p£(7) - ‘WoolwthF'W (15) Worthn Pump. Wright Aero (1) Yale&Town(15). Yel T&C(76¢) Yel Tr&C pf(7). ‘Youngstown (4) oA RN this vear-ong LN stock. | | | | | Covewvon BONDS o ecmavs | Recelved by Private Wire Digect to The Star Office. UNITED STATES. (e e 12 91009 High. Low. ) Close 101 18 101 16 101 18 100 29 100 28 100 28 Lib \US 2 US4n1944. | OS4Ksbs. 21 FOREIGN. 22 ;thfl(- 76 1033 Argentine 55 Argentine 65 Ju §9. 8 Argentine 6s Oct 52 5 Argentine 6s A.... Argentine 6s B. Argentine 75 Australlan 5s Austria 7s s Bank of Chile 6%, Bank of Japan 6s. . Belgium 6s. 9 99 Brazil Canada 65 1931 Canada 6s 1952 Canada 5% 19 Chile 75 1943. Chile 85 1941 .. Chile 85 1948 .. Chinese Gov Ry bs. Con Pow Japan 7s. Copenhagen 5% Cuba 5%, ... Czecho 7% ret Czecho 8 1951. Danish Munic 83 A. Danish Munic 85 B 1 Salvador 85 48.. Finland 78 Framerlcan 7%s French 7 French T%s. . French 8x. Haltl6s..... Holland Amer 63 Hungary 7%s Ttaly 7s. . Japanese 4s Japanese 6%s. ... . Jergens U M 6s 47. Mexico 45 04 asntd. Mexico 45 10 asntd Mexico is assented Norway 6s 1952." Orient Dev deb 6 Paris.Ly-Med 68 Paris-Ly Med 7 Peru 7les Poland $s. | Prague 7%4s. | Queensiand 7s. Rio de Jan ¥s 1948, Rio de Jan 88 47... Sao Paulo 8s 1936 Sao Paulo 1950 . Saxon (PW) 7s Seihe 7842........ Serbs Crot Slo 85 Sweden 53 s ct Sweden 6s. .. Swiss5%s 1946 ... Swiss Confed 8s. .. ‘Toho Elec Power Ts TOKIOSE, ... ooes Utd Kingm 513829, 1 Utd Kingm §%s37. 12 % 118% 104% 3% 118% 104% MISCELLANEOUS. Am Agri Chem 734s 2 Am Chain s Am Smit& R Am Sugar ref 8s. . AmT&Tecltrds.. AmT &V cltrbs.. AmT&Tsf5s. .. Am T & T deb5%s. Am Water Wks & Anaconda 1st Anaconda cv db 7s. Andes Cop 7s rets. Armour&Co ¢%srf Armour Del bis. Associated Ofl Barnsdall 6s ctrs Bell Tel Pa 53 B. Bell Tel Pa 55 C. Beth Steel r 55.... Beth Steel 5148 53. Beth Steel 6: s Brier H St 1st 5%s Bklyn Ed gen bs. Bklyn Union 5%s.. Bush T Bldg 55 60. Calif Pete 6%s Chile Copper 68 32. Commonwith P 6s. Coa Coal Md 18t 58 Con Gas N Y 51s.. Consumers Pow 5s. Cuban Am Sug 8s.. Denver Gas 5s..... Dery (D G) 7s. Det Edison 5s 40. Duq L& P 5%s 4 Duquesne Light 68 Empire G & F 7%s. Goodrich 6%s. . Good year 85 1931.. Goodyear bs 1941. Hershey 5%s...... Humble O &R 5%s Illinols Bell 18t & Int Mer Marine 6; Int Paper bs 47 Int Paper 6s. IntT&T6% Kan G & EI 65 52 Kelly-Spring 8s. Lackawa S 68 50 Liggett & Myer: Loulsv G & E 63 5! Manati Sugar s 7 Mid-Con 8%s 40. Midvale Steel b: Montana Pow §s. . Mor’'s & Co 1st 438 3. N Y Edison 63 44.. N'Y G EL H&P és. 104% 101% 101 1084 984 - - PPeNNS maBe—aanSan0 P Bvow-mBorana-2n HEHL North Am Ed Nor Ohlo T & L Otis Steel 8s. Pac Gas & El 6s. PacT & T 655 52 ‘Pan-Amer Pete Phila €o 5%s 3 Plerce-Arrow 8i Public Service 6s Remingtn Arms 6s. Saks & Cosf78.... Sinelair Of1 Sinclair Oll 6% Sinclair Ol 7. Sin Crude Oil 6s. Sin Pipe Line & South Bell Tel 58 Southwest Bell 5s.. 1 United Drug 6: U S Rub 1st rf USRub 7% U S Steel s f 58 Utah Pow & Lt 6s.. Vertientes Sug 7s.. ‘Warner Sug 78 39.. West Elec 5s. . ‘Westn Union 6% Westinghouse 7: o = N WR NN BOR TN NP0 BOWBD D NE-RO B0 Youngstn § & T 6s. 19 104% RAILROAD. 17 92 Bkiyn Manhat Bnff R & Pitt 4% Can Nat4%s30.... 11 99% Can Nat 4%s54.... 12 Canad North 7s Canad Pac deb 4s. Centof Ga 545 Cent of Ga 68 Central Pacifl ent Pac 1st-58 11 84% 10 104 1014 100% 1035 98% 103 100% 106 97% 103% 106% 100 914 934 102 104% 92 105% 6% 98% 108% 1027% 107% 101% 97% 1% 9% 101 14 101 13 101 14 1032 1082 81 101 27 101 25 101 27 1048 1048 108 10 108 10 108 10 Sales. High. Low. Close. i 89% 89% 9% 99 99% 98% 101% 99 101 974 100 83% a4 101% 107% 108% 1044 95 99% 101 987 101% 110% 110% 104% 105% 106% 9% 90 89% #6% 102 95%, 95 9 11 115% 116% 116% 2 84 84 4 1034 105% 105% 4 103% 103% 103% 91k 91% 1% 1 101%-101% 101% Sales. High. Low. Close. 2 §8% 98% .98% 8 97 967 97 1 130% 130% 68% 68Y 105% 105% 934 93 8% | Ches & O cv 4ts Ches & O gn 4%s Ches & cv §s Chi& Alton3%4s... | Chi B& Q 1st rf 6s. CB&Q-Tadlv4s.. CM&StPgn8 ICM&StPcvdhs. CM&SPcvi4 % s32¢cfc CMZStPgndta. iICM&StP6s.. Chi & NW 6%s Chi Rys 6s. .. Chi R1& P gnids. ChiRI&Prt s Chi Un Sta 4%s Chi Unfon Sta 5 Chi Union Sta 6%s. Chi & W Ind cn 4s. C&WI5%s62 CCC&StL 4% . CCC&StLrfésA. Clev Term s . Colo & Sou 4% Cuba R R 68 . Cuba NR 6s . Del & Hud cv 58 36 Den & Rio G cn 4s. D& Rio G imp bs. . D Rio G West by Exrfe 1st cons 4s. Erle gen 4s Erie conv 4s B. Erfe conv 45 D Erfe Genessee R 83. FlaEC5sT4... Fla EC 74 new Gr Trunk sf db 6s. Grand Trunk 7s Great North 514s. . Gr North gen 7s. Green B & W db B. Fud & Man ref §s. Hud & Man aj 58 111 Cen 4s 11-C-C StL&NO 6s. Int Rap Tran6s. .. Tnt Rap Tr bs stpd. Int Rap Tran 6s. .. Int Rap Tran 7s. .. Int & G Nor 1st 6s. Int & G Nor ad 6y.. Kan City S bs. Kan City Term 48 Lake Shore 4= 28 Louts & N un! 48 L &N 4%s2003. Loufs & Nash 51 Market St 78 40.... M{IEIRv & L 5s.. - » PewmBmon——a—eRn 7% 102% 118% 567 104% 99 103'% 103% 6% 95 9T% 110% 85% 99% 66% 79% 1% 4% 81% 108% 99% 99% 107% 1 115% 107 118% 19% 974 Bl% 88% 103 5% 74% and 9 o Wl wRun~® o~ aw RN s MStP&SSM5=38gtd MStP& MK&T4sB. MK & T adj 5= MK&TprinbsA. MK&T6sC Mo Pacific gen 4 Mo Pac 5= 1965. Mo Pac6s49D.... MoPac6sSHE.... Nassau E Ry 4s 57. w Or Term s N O Tex & M 58 B NOT&M5%s. N Y Cen gen 3% NYCent4s9s..... NYCrfim4i4s13 NYCentris.... N Y Cent deb 6s NYChi&StL 5%sA. NY W & Bos4ls. Norfolk & W cn 4s. rthern Pac 3s Northern Pac 48 Northern Pacr{ 6s Ore Short L rfs 4s. Ore Wash 1st rf Pennsyl gen 414s. . Pennsyl gen 5s.... Pennsyl 58 64. Pennsyl 6%s Pennsyl gold 7 Peoria & B inc 4s. Pere Marq 1st 5s. Port RL & P 58 42. PorRL & P 6s 47 RIArk& L4%s St L IM&S R&G 4 StL&SFpl4sA.. StL &SF prinbs. StL&SF5%sD. St L& SFadjés.. ISt L& S Fincés. StLSW st ds. St P & KCShL 4%. San A& Arn Pds.. Seab A L ref 4s. Seab A L adj 5s.. Seab A L con 6s. Seab All Fla 6s. Sou Pac 4529 Sou Pacific clt 4s.. Sou 1’acine rex 4 Southern Ry gen 4s Sou Ry con 58 94. Sou Ry 6s56...... Southern Ry 6%8 Texas & Pacific 1st ¥k 9% 95w i 107% 107% 12 13 118% 118% 1068 106 64 64% 57 - 61 99 99y 93%. 94 995 99% 102% 102% 9 102% 1024 101% 101% 4% 15 Tol Tr L&P 5%s 30 Union Pac 1st 4s. Union Pac 4s 2 Uhlon Pac cv 6s. Virginia Ry 1st 5 ‘Wabash 2d 5s..... West Maryland 4s. NOTex& M inss. 0% 100% | 00 | ings. than a vear ago. 7314 { the new crop. h FINANCI SOUTHWEST RAINS STIFFEN COTTON Undertone Generally Steady. Advance of Two to Five Points Recorded. By the Associated Press NEW YORK, June 19.—Cotton fu tures opened steady; July, 17.85; Octo- ber, 16.44; December, 16.44; January, 16.36; March, 16.50. Apprehensions that the Southwest was getting too much rain for the best development of the crop seemed responsible for further covering in the cotton market early today. The undertone was generally | steady. The market opened at an advance of 2 points to a decline of 4 points, with near months relatively firm. Later deliveries stiffened up shortly after the call on the outlook for a con tinuance of unsettled and showery weather in the Western belt. July sold up to 17.85 and December to 16.49, the market showing net ad vances of about 2 to 5 points on the more active positions at the end of the first hour. New Orleans Quotations. NEW ORLEANS, June 19 (®).— Cotton futures opened steady. July, 17.10 bid: October, 16.10; December, 16.09; January, 16.13; March, 16.15 asked The market was firm today as Liverpool cables were better than due. First trades showed gains of 1 to 5 points, but the market soon eased off on reports of rain in most | parts of the belt, prices declining 4| to 8 points from the opening. When the weather map was posted, show- ing heavy rains in the Western belt but no rain in the Atlantic section where needed, prices rallied, July | trading up to 17.20, and October and December to 16.17 WHEAT PRICES UP ON FOREIGN NEWS Early Upward Slant Is Offset byj Rains in Southwest—Corn I Sympathetic. | By the Associated Press. | CHICAGO, June 19.—Continued un- favorable reports from Europe regard- ing the weather conditions and crop outlook there tended to give wheat | values on this side of the Atlantic an upward slant during the early deal- Rains reported over the domes- tic belt in the Southwest, however, acted as a check on the pressure After starting unchanged to % cent higher, wheat eased off to below ves terday's close. Corn and oats were easy, with trade almost featureless. Starting unchanged to % cent higher, corn eased off with wheat. Provisions were irregular. Further apprehension was felt among the trade here concerning con tinued unfavorable weather reports from Europe regarding the weather reports and the crop outlook there. A private report from Manchuria said| that the crop there was suffering se-| riously from drought, with prospects' poor for the new crop of wheat in the | northern regions. unless rains' came| very soon. Another estimate from a| Bulgarian source set the estimated | yield there at 7,500,000 bushels less| Bulls wera further encouraged early on reports from the Dakotas, where | it was said that in some sections the| recent rains had resulted in the fields | all being tall enough to harvest. but | having only a thin stand, with a hea undergrowth of weeds in a large per- centage of the flelds, which will im- pair the crop. | Some relief, however, was evident on reports from the Southwest, where weather conditions were somewhat more favorable for the movement of | FOREIGN EXCHANGE. NEW YORK. June 19 (#).—Foreign exchanges firm. Quotations (in/ | cents): Great Britain, demand, 486 3-16; cables, 486 11-16; 60-da 482%." France, demand, 2.80. Italy, demand, 3.60: cabl Demand—Belgium, 80: Holland, 40.13; Sweden, 26.82; zerland, 19.351; 1.25; Poland, Jugoslavia, 1.77%; Rumania__ 42%: Argentina, Brazil, 15.75; Tokio, 46.75: 73.18%; Montreal, 100.155%. Spain, 16.38: Greece. Austria, 14.12 40.50: Shanghai, 99% 100 854 854 8o% Western Pacific 5s Wisconsin Cent 4s EXTEND DELIVERIES. New Orleans Exchange Acts on Galveston and Houston Matter. NEW ORLEANS, La., June 19 (#). —The referendum vote of members of the New Orleans Cotton Exchange on the subject of Galveston and Houston deliveries contracts” has re- sulted in a large majority for the proposition to extend deliveries to Galveston and Houston. total membership of 436, of which 264 votes were for the Galveston- Houston deliveries and 148 against. TIRE BUSINESS BETTER. NEW YORK, June 19 (®).—Francis R. Henderson, president of the Rubber Exchange of New York, returning from a Western trip, said conditions in the automobile tire industry in Akron were decidedly better than at any time this year. “Factories are {now running on fairly even schedule so far as tire production goes, and this month they will ship more tires {than they manufacture. This will make a big hole in the inventory fig- ures and bring about a healthier sit- uatfon in the tire industry in Amer- BETHLEHEM GETS ORDER. NEW YORK, June 19 (#)—Bethle- hem Steel Corporation has received an order from the North American Car Co. for 300 tank cars. The Seaboard Air Line has booked 20 steel pas- senger cars with American Car and Foundry and_seven dining cars with Pullman Car @nd Manufacturing Co. BUILDING IMPROVES. SAN_FRANCISCO, June 19 (Spe- cial).—The San Francisco Industrial Association reports building opera- tions are improving here, but that they have not returned to the high point of activily reached before the union carpenters’ strike. Employers say some union men are returning to open shop jobs. Lofela i C . BANK CLEARINGS. NEW YORK, June 19 (Speciall— New York bank clearings, $1,040.000, New York bank balances, $110, 001 000,000; R{ -Wederal Raserve “Bank mgl "n;fioo.m. The total vote was 412 out of a | | POTATOES STEADY. | CHICAGO, June 19 (#).—Potatoes— | (Receir\t new, 45 cars; old, 34 cars: | total U.'S. shipments, new, 769 cars: | 0ld. 107 cars: on track, new. 71 car old. 53 cars; market strong on Russets, steady on other stock; Wisconsin, | sacked, round whites, 2.9%3.00; Idaho, sacked, Russets, 3.50a3.75; Washington, sacked, Russets, 2.90a3.25; new stock, Triumps, firm; other ' stock weaker:| Southern, sacked. Triumphs, 4.50a4.75 for best: ordinary, 4.25: sacked Cob- blers, 4.20a4.35: California, sacked, long whites, 4.30a4.40; South Carolina, slat barrel, Cobblers, 7.00. BUTTER HIGHER. CHICAGO. June 19 (#).—Butter, higher; receipts, 17,748 tubs: creamery extras, 38l: standards, 38%: extra firsts, 3715a38; firsts, 3514a36%: ons, 33a34%;. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY ton of refined sugar has heen made from beets grown in Louisiana at the State unjversity farm. Sugar experts are enthusiastic over the resuits and pay the tests prove sugar beets can be ®rown successfully here and may prove the saving of the Louisiana sugar industry. HIBBING. Minn.—The third unit of the Oliver Mining Ci crushing plant is now approaching completion. The company is the iron ore subsidiary of the United States Steel Corporation. FORT WORTH.—Tomatoes are re- turning between 4 and b cents a pound to Texas growers. These prices are lower than at this time last year, but afford a margin of profit. SEATTLE.—A combination of 22 leading Pacific Coast salmon packers is now in progress of formation to market lower grade fish in foreign countries. The combination will ex- tend to foreign trade only, and is ex- pected to receive governmental sanc- tion. CHICAGO.—The truit crop of Illi- nois is above average this year, with apples 67 per cent of normal,. com- pared with 59 per cent last year; pears 78 per cent, compared with 47 per cent a year ago. and with the peach crop .00: Czechoslovakia, 2.96:| K BATON ROUGE, La.. June 19.—One | AL. STOCKS' ADVANCE ISHELD MYSTERY Wall Street Looks on Mon Situation as the Pri- mary Factor. By the Associated oo NEW YORK. N. ¥ 19. 2K sharp upturn in dent with a relaxaiion attracted widespread financial circles thi n case of the industi wiped out about losses sustained in the drastic rear s tlons of March and April, while the average of 20 leading rails mounted to within a fraction of the vear's high Dally sales averaged zbout 280,000 shares In view of the recent widespread pessimism regarding the husiness ot ook for the last half of the vear, the sudden advance in stock prices was somewhat of a mystery. Wall Street which is never at a I day to day market fluctuations, locked upon the money situation as the pri mary factor, pointing out that the de. cision of the United States Treasu not to do any financing tnis quarter released about §300,000.000 for invest ment in other securities and that be cause of the lack of high-grade bonds at attractive ylelds, investors t to the stock market for of their idle funds. This seemed to be borne out by the faot that the advance originated wi high-grade dividend peying industriais and rails. such as U. General Motors, General Electric and New York Central. Lackawanna, Balii more & Ohio and the movement got under w how ever, pools were hastily organized and started bidding up a wide variet of specialties, particularly those with promising dividend or merger poss: bilities ConsiGerable stress was laid by op: erators on the long side on the fact that business is being maintained in relatively large volume. Such stand ard Indices as bank clearing<. freign: trafic and sales of life insuran.a all are running above the corr period a year ago. A ency also has been n commodity prices, structural ing advanced $2 a ton and a h of non-ferrous metal prices tock prices. vainck " me thiz he recoverv birds of the irned employmen taking common and General Motors were the leaders of the upward movement. Steel touched a new high record of all time at 139%, but broke %0 13435 on heavy realizing vesterdar General Motors fouched a new top for the year at 1481;. but also slipped back about 5 points on realizing, buv ing of this issue heing infuenced hy the announcemci' that May produc tion anl wais broke all monthly records, and by rumors of a substan tial distribution this quarter. Equipments, chemicals. rubbers merchandising and mall order issues all presented several points of strength Oils started upward at a brisk pace earlier in the week, but the rallies s0on petered out. although several is sues. including Marland and Texas ( attained new high levels for the vear SEEKS LOWER RATE. : Great Northern Wants to Market Bonds at 4 1-2 Per Cent. ¢« Declaring the railroad securities market was not in a position to absorh, bonds bearing a high rate of interes. the Great Northern Railway requested the Interstate Commerce Commis: today to modify its order of June 1923, authorizing the road to procure authentication and delivery of §A0 000,000 of general mortgage 5 per cen gold bonds. The road already has ued $15.4 000,000 at 5 per cent and desires to market the remainder at 4% per cent and to sell one-third of the §45,000,000 at not less than 91 per cent of par. The Pere Marqueite Railway ap. plied to the Interstate Commerca Com mission today for authority to issue $2,868,000 of its first mortgage 5 per cent gold bonds, to reimburse fts treasury for expenditures made for | additions and betterments. COTTON GOODS LOWER. peetal Dispatch to The Star ' NEW YORK, June 13.—Cotten cloth goods markets closed the week quietly, with prices slightly lower Print cloths were quoted at 7%c for 84x60s and 81 for 65x72¢, a reduction of 13 of a cent in each case. Raw silks advanced .5 to 10c a pound SRty When Fiddling Failed. In some sections of Tennessee an, elsewhere in the South the old notior | that playing a fiddle near the spot where a person drowned will raise body to the surface of the water still extant. Recently an old n fiddled all day on the bank of Emory River in an effort to raise body of a man who drowned there But the body didn't rise, savs the Pathfinder Magazine However, the old fiddier, who claims that in his time he has raised the bodies of 17 persons by this means, s not discouraged. He explains that his apparent failure in this case was dus to the fact that the victim's body was not In the river at the place where it was supposed to have gone down ¢ Subsequently dragging and examina tion of the stream by searchlights failed to reveal the bod GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) icad Ger Gt (w In) Bs 1914-18.. 900.00 95000 s P800 5500 94 Elec 4 Ger Gen Elec 41 Berlin 43 ore 1921 s Dre-wa; M 48 pre-war | var t ‘Bank BOSTON STOCK MARKET. BOSTON, June 19.—Following is a list of today's highest, lowest and. closing prices for the most active stocks dealt ir here: Tsle Royele Mergenthal hawk ew Eng T id - Dominior Pacific Mills attuck-Defn Swedish Ame: Awift & Co. Tot Unit e;‘poctsd to.be the largest produced in the State. * to “explain’ 1.