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Adverse News Causes a Sharp Rise in Cotton March Crosses 14c; Trade and Commission House Buying Heavy, Attracted j,v Possible Small Crop "ha buying movement in cotton con trfiu?a yesterday, stimulated by oaerous adverse crop advices, and "rice? reached new high levels, with Lrch contracts and beyond passing the lisent mark. In addition to renewed heavy trade buying there was a much 'larger business through commission houses attracted undoubtedly by the ?m-mect of a small crop. This lasted racticaily all day, so that the market Ins continuously more active than it has been in months. At the opening the market was firm ? g {0 is points net higher. Not only Extension ofLRT Bonds ?s Approved The Transit Commission yester? day approved the application of tho Interborough Rapid Transit Com? pany for an extension of the matur? ity dates of $39,418,000 face amount of three-year 7 per cent notes issued by the company three years ago and which expire September 1. The extension waa granted for on? year until September 1, 1922. And for the extension time the com? pany is permitted to increase its percentage rate from 7 to 8 per cent. M -_ ? Was Liverpool firm, but Wall Street \ again furnished active support in the | first half hou , and the covering by ] room traders was hastened by reports ! of continued high temperatures in the ! Southwest and later by the weather \ map Bhowing heavy rains in parts of ; the eastern belt, where the boll wee vil has been very destructive. Some ' of tha more determined bulla predicted a very low September government re? port and a still lower one for October, but those opposed to further advance at this time pointed out that these ex? treme predictions always accompany such an* advance as the market has experienced in the past week. It was believed in some quarters of tho market that a largo Wall Street short line had been covered, or partly so, in the last day or two. Bven the possibility of cooler weather and showers in the Southwest, as contained in tho forecast, failed to inspire more than a passing re? sponse from the market at midday. The chief bear factor perhaps was an evidently weaker technical position of the market as a result of its recent perpendicular rise and the consequent elimination of much of the short in? terest and rapid increase of the long in? terest, part of it for outside or public account. Under the circumstances, therefore, traders believed that a con? tinuation of the adverse crop news would be necessary to sustain tne mar? ket at these levels without a good reac? tion meantime. Southern spot markets, as officially reported, shared the strength in fu Day's Dealings in Bonds The Market The outstanding development In yes terday's bond market was the vigorous tone of strength exhibited by the Liberty loan 3Vis per cent bonds, which touched a high of 88.98, a new high for the movement and a net advance from the previous day's closing of 74 tents. The advance was partly can efled before the close. The other United States issues were not much thgng-ed. The French government is? sues continued to be the most active of the foreign loans and the prices of both the 8s and the 7 Si s were- well maintained. The Swiss 8s sold at IWty for a time. In the general bond l!?t th? volume of activity continued at the average of recently preceding j ?3?ys and prices were firm. Transaction? Balea, UUrtr ?Ha l*". do lut 4e, 1947. do Jd ??? 1-?43. d? l?t 4*48. 1947 to l?t-2d 4K?. do 2d 4*4?. 1942. do 3(1 4>4?, 192?. do 4th 4*4 a. 1P38 Tletory 4%a, 1923. do l\s, 1923. 493,000 Quotations High. Llbsrty 3tt?- 88-98 do lit 4?. 87.90 do 2d 4a. 87.?4 do lit 4*4s- 88.08 do Ht-2'1 4t?b. 96.10 do 2d 4*4i_ 87.80 do 3d 4'--.s_ 92.03 do 4th 4*4s. ? 87.96 Victory 4*is. 98.S4 do 3**s. 98.32 Bid ar.d Asked Quotations Liberty Bonds. Yesterday. Thursday. ;U(, 1M7. 88.20*88.40 88.24*3>8?.3tT: lit 4s, 1947. 87.72087.94 87.80?81.10 }4 4?, 1942. 87.?t>@87.70 87.64@87.74 Ut 4U?, 1947_ 87.82@87.94 87.S0@88.00 24 4Vis, 1>42_ 87.62@87.70 87.6S?D87.72 Jd 4*r4i, 1928_ 91.90? 91.96 92.00092.04 ith 4\?s. 1938_ 87.78@87.80 87.80@87.82 Vic. i\?. 1923. . . 98.70#98.72 98.78@98.80 do 3Ha. 1923.. 98.70@98.72 98.78o 9S.SO Pre-war Issue?: 1? res. 1930.100%@101% 100%@101% Si coup, 1930_100 H @ 101 ?4 100*4? 101% Um. 1925.104%@ ? 104*4*9 ? 41 coup, 1925-104*4 9 ? 104H? ? }?Par. 0, 1935... 100*4 QUO! H 100% ?101% 2?Panr, 1936 .. .1 00% It 101*4 180%@101% h Pan r, 1938.. .I00%@ioi% 100H (g 101 Vi 3i Pan reg- . 75 @ ? 75 @ ? it Pan coup ....75 ? ?? 7G @ ? Phil 4s, 1934_ 78 @ ?- 78 @ ? Phil 4 s, 1835_ 78 <8) ? 78 ? ? Phil 4?. 1936_ 78 @ ? 78 @ ? TJ Col 3? 1965... . 93 @ ? 93 Q ? Foreign Govt. and Municipal Bonds (Interest to be added) Bid. Asked. City of Bergen 8s, rets. 09% 100 do Eerne. HS % 99 do Cnrlstlanla. 99 100 do Zurich.100% 10<>% Atfent.ne intern 5s, 1045.66 00% Belgian 8s.100H 100% Kingdom of Belgium 6s_.... 04% 95 do 7*,?, 104."..101 % 102 do Sweden Cs,, 1989. 87% 88 Canada, Dom of. 1026. ?2% 92% do 1(12?. &2V4 03 . do 1831. 89 IK? Danish 8s (A).101% 102 do 8s IB).102% 102% Chinea? Gvt Hu Kug rty 5s, 'SX 48V? 48% Norway 8s.108*4 104 Cuba exter r>s, 1944. T8 80 do Ba. series A, 1049. 70% 77% do -His, 1040. 07 69% T S of Brasil 8s. 1041. 99% 100 ' Republic of Chile Ss., 98% 98% Dominical. Rep Ss. lO?S. 79 79V> Franch Gvt 7*,??, 1941, w \. n<5% 3(5% City of Lyois 13-yr Os, 1034... 83 83% So Marsell>s 15-yr ??, 1934.. 88 8.1% 00 Bordeaux 15-yr c,s, 1034.. 8:1 83% do Copenhagen 25-yr 5%s, '44 78% 78% French Qvt g3_ lst l8a,ie.100% 100% French, Taris City, fig. 1921_09% 100 un of Switzerland 8s. 1940. . . .105% 106% ?T","? On 4Vis. ster In. '25.8."% 8r,% 5? JHa, 2d series, 1926. 83 85% d*> 4s, st ster loan, 1031. 70% 70% do Tokio Cltv 5s, 19772. 60% 61*4 Cn King Ot B A I 5-yr 5V?H. '21 99% 100 ' do 8-yr 6^s 1922.?9 09A, do 10-yr 5*?8, 1929. 8S% 89% Md?t,20*yr. 5M'?? 10;5T. 87% 87% ? ?l ?t?r Gs of '09 1945.. 44 45 do Fold 4h of '04, 10,-,4. S3 34 of Italy &-yr 6%? gold bds 88% 90 Paulo Ss, ct. 08% 98% Affentln? O (? 3945 1 .... ?9 ??cago Ry 5a 5861 * _<J?? ' .... il\ a .... Ill, City of Bernen temp recta Si 1915 3 .... 99% 3 ....100 vlty of Berne ?s 1945 1 ... ?9H 1 .... 99V4 ? ??? 99 W .... on-, 1 .... 99 O'f of Bord <? 1334 H ... J3 c'ty of Copen ??f;n 5*8 1 ....?s '? :::: t.% i ???? 78*4 ? ??" ?*** Oty of Jj'ara ?? 1934 ! ???? ?3H ci,' ? ? ?3 f; ?si g ... n% , ???? ?oil f.?l ? ..100 H 1?S2 60 % (Sales) -IOOVj _300% _3 00% . . . .3 00** -300% ....300% ....100% 100% <*%a 1941 107 n i 3 0 1 B00. 0 06 % 96% 9?% 9*3% oc\ 9? Vi 9 0% 96% 96"S 96', 86% Of. V, 9?% 96 % 9"6% 96% Gov of Swltz J _102% 1 _102% K of Nnrway ?s 1940 1 _103% 10 _1Q3% 3 _104 2 _103% K of Sweden 6r 1939 1 _ 87 3 _RI 1 _ 87% Rep of Chile 8? 1941 1 _ 98% 01% 98% 98% PS'*, 98 % 98% 98% 98% 8?f. 500. R<?p of Cuba 4%s 1949 s*u erlanil s f 8ajs of fiao Pau?o 1940 s _ioe% 2 ....10CV, 2 B3?.106 ? ....106% 3 _10H E -io*;% Jap lat ?er 4%a 1925 | 4 .... 85% 2.1 ?er 4% s I 15? 85% ?<? f 8s 1936 6 - 58% 5 _ 98% D K of en itr & I O',? 1921 5 _ 99 1 Btif. 99% 17 1922 a^km .. 99% 99% .... 85 s:i0f 86% ? *^5|_lVii-_M4. i 94i 1931 ?>?ni.i,'?..i0/'h J? ???? M* ^tl,;v?-? "f Bel *?* A 394?! { ??oa J ?...101H ' ... i n i *. **.r ? 104?; '; ? ? ? ? *.1 ,?____ I* 1941 ?_ 1929 i. . 17 . 25 . 1937 29 sSf. 99 99 89% 88% 89 1 Mu 33 li 99% S9 lU-p '? iiii mi ' ? Weh ** IMS ?-100% ? ?. 100%, , ? -.100%, Mway, %**? ?x t _ 101 1 -100% 1 -300H l? ...100% 6 -101 ;? . ...ioo%? 1 ....101 s f 7%? 1945 2 . ...10]V, 1 ....101% .101% 1 ....102 ?s** 19;'5 2 .... ?4% ?'? - 94% K of Dpiunurk 8s 1945 ?t ....102% '5 -102% ?7% 87% _ 87 % 1 _ 87% 15 _ 87% 1 _ 87% O S of Braall 8a 1941 2 -100 3 -99% 9 _100 6 _ 99% 1 _100 U S of Mex 5a 1945 1 500. 44% & .... 44% 3 - 44 4* 1954 N Y C 4%s 1963 A~ n 1 .... 90% t02%l 4a 1957 1 - 81 .102 Other Corporations ut RmUlbg 1947 - 79% 79% *m AC ^ili ??V 1925 ! ...ioo% 7 -100% 30 ..,.100% *fl ...lOO'.'j 72% 72 71% 1 . 1 . Atlas 8 .. 2 ., 1 w. 91% 81 995 72% 72% 72% 72% 73 _ 72% 1 - 72% cv 4%s 1933 71% 70% 71% 8 - 70% 1 - 71 8 - 70% gold 48 1948 1 .. 1 .. 6 . . , Pl 3%: 70% ? 70% ? 70% . 70 ? 70% . 70 ? 69% 1925 . 87 . 86 % ? 86% . 86% Ohio 8 ... 1 ... 1 ... Bait A_ Pitts I. B & *W Va 4s 1941 2 - 67 7 .... 66% 10 .... <?.fi% Bait A O Sw 8%s 1926 2 - 83% 5 -83 Bait & O T A C 4b 1959 1 .... 78%, 14 .... 77%! 1 - 77% Chlo A Alton rfg 3s 1949 2 - 46% 3%S 1950 4 .... 35% 6 _ 38 1 .... 85% 1 - 35% C B & Q gnl 4a 1958 1 .... 78% i .... 80 C B A Q-Ill 4a 1949 6 e7f.. 81 C Gas C L,gt 6s 1837 59 -80 C Gt West 4s 1959 8 -63 2 - 62% 1 - 52% C M A St P cv 6s Series H 2014 1 _ 89 3 -70 2 - 6? cv 4%s 1932 5 _68 1 - ?9 5 .... 67% rfs 4%s 2014 2 - 61% gnl 4s Serles A 1989 1 -?9% C M A St P 4s 1925 1 .... 76% 4s M A P Sd 1949 10 _ 61% C A Nwn 6%s 1936 2 _100% 1 _100% 1 -101% 1 _101 2 _100% 1 _100% 1 _101 Sen la 1987 6 _93% .. 93% 1987 1. ? ?7 Chicago Rvry Es 1927 1 _?4% C R I A P gen 4a 1988 ..102 .102% ,.102% ..102 ..102% ..102% ..102% ..102 .102% Granby Con M Smelt & P 8s 1925 1 _ 80 Gr Trunk Ry of Can s f 7s 1940 1 _102% .102 .102% .102% .102% 3%< 1 - 56% 6 - 56% 5 - 66% 4 - 66 8 .... 66% 6 - 66 10 - 55 Bell Tel of l'a 7s 1945 6 -105 1 -105% 16 -105 Beth Steel rfs 6s 1942 1 - 83% 1 - 87 3 s30f 85 pm 5s 1936 1 .... 77% Braden 6s 1931 10 .... rfg 4s 1934 4 _ f.8% 5 _ 63 12 _ 68% 5 _68% 13 _68* 5 _68% 1 _ 68% C St I. A N O 6s registered 1951 1 _ 87% Chic Un Stn 6% s oer C interim ctfs 1963 1 _105 fi _104 2 _106 1 ....104% 2 _104 4%s Ber A 1953 6 _ 81 C A W Ind 4b 1962 8 _ 60 Chile Copper 7s 1923 2 .... 93% 6r 1932 2 _71% 1 _71% C C C A St L rfg 6s' 1929 3 _ 90% 2 _90 2 _ 90% 4s Cairo dlv 1939 2 _ 76% Col & So 4%s 1936 1 . Cop li 76*, 76% 86 86% 85% 85 84% 84% 84% 84 83% 83% 83% 15 5 15 38 _ Bklyn Bd gn 7B Series C 1930 1 .... 99% gn 7s Serles D 1930 4 - 99 2 .... 98% 6 - 98% 1 _ 99 8 - 98 % 1 - 89 10 - 98 % f;n 6s Serles i 1930 1 . .., 89% Bklyn R T 7s ctfs of depos 1921 10 _ 84 G _ 64% 6 - 66 1 - 66 En 1945 1 - 26 Bush Ter con 6s 1955 1 .... 72% Bldg 5s 1960 1 _ 76 1 _7 4? 1st 4b 1929 1 _ 84 9 .... 83% Consol Gas 7s 1925 10 _102% 1 _102 V 1 _102% 1 _102% Colum G A E 5s 1927 2 _84% Cuba Cane S rvt deb 7s 1930 2 _66% 1 _66% i _ 66 _ 65% - 65% _ 65% .... 65% _ 65% _65% _65% .C5% Cuban-Am S col 8a 1931 1 _ 99% Cumb Tel 5b 1937 1 6 2 1 _ Gt Nor 7s ser A 1936 100% .100% .100% .100% .100% .100% , .100% .100% . .100% .100% .100% .100% Hock Val 4%s 1999 73 73% 76% 74 74% Hud A M rfg Es 1867 1 _ 68% 2 _68 1 _ 67% 3 .... 67% lnc 6s 1967 17 -43% 10 - 43 1 .... 43% 2 _48 1 _ 42% III Cent 6%s temp 1936 2 _100% 1 600.100% 5 _101% 4 _101% 6%8 1934 G .... 91% 81% 4s 1953 70% 71% 4%B Til Steel 1940 1 . 1 . _ Int-Met 4 Vi a ctfs o? depos 1956 10 . Int R T 6b 1966 5 81% 82 18% rfg 16 66% 65% 65 66% 65% J2% 74 % Can Northern Ry s t gold lb 7s 1940 6 -102% 2 _103 2 ....102% 1 _103 6%s when ifsued ' 1946 6 - 98 a; ?? - 99 08% 99 98% 99 98% 99 98% 98% 4'J 10 10 3 1 6 80 80% Del A II cvt 5b 1936 2 .... 85% rfg 4s 1943 1 _ 80 Den A R G cv 4%s 1930 lm 6s 1928 6 .... 72% rfg 5b 1955 1 BlEf 46% 1 _46% 14 _46% 5 _46 % 34 _ 46% 16 _ 46% con 4s 1936 6 - 66% 1 _ 65% 2 _ ?6% Det Ed 1st A rfg 6s eer 15 1940 10 10 16 ^^^_ Int Mer Mar 6b 1941 4 .... 79% 2 _79 % Int Paper 5s 1947 1 _ 80 Iowa Cent 4s | 1961 2 _40 K C Et 3 A M 4s 1936 2 .... 67% Kan City So 6s 1950 88 Es 1933 _ 87% 6s 1940 78% On of ?n Ry 6s 1929 7 - 89%i 1st 6s 1945 11 - 89% con 6s 194 5 6 -84% 5 . ... ?3% Cen Leather 6s 1925 1 - 8? 1 _ 89% Cen Pac gttl 4s 1949 72% 7Sl 71? 7:;% 73% 73% 73<-i. 73% 73% Cu Pac Short Mue 4a 1954 3 _ Il Ches * Ohlol tv 5a 1946 ! 4 .... 83% I 1 10 4 16 40 L. 0 col 1 rfg Diamond M s f deb 7%* 1935 3 _104 Pul A Iron R 5r 1937 30 .... 88% Du Pont de Nemours 7%s 1931 2 _ 98% 2 .7 .. 98 2 _ 98% 2 _ 98 3 . ..97% 3 _97% :; .... 98 97% _ 97% 29 .... 97?4 r _ 98 14 _ 97S 1 _ 98 3 .... 97% Duquosne L 6s 194? 23 _ 91% 2 _ 91% 1 _ 92% _~^H Erle K"*> H 1996 10 _ 77% 1 _77% 6 .... 77% 3s 1950 5 _ 67% 10 B30C 67 9 _ 67% Kan City Ter I 4s 1960 R _72% 6 _72% Kelly-Sprinfr fleld Tire gold 8a 1931 2 _97 ?4 3 _ 97% 4 _97 Lack Steel 6s 1950 1 _74% Dae GftB of St \, 1st 5s 1934 ..77% I,ake Sh 4s 1928 6 _ 86% 48 1931 no g 3 Lehlgh' Val 6s 1928 1 _99 D'.ggett A M 7a 1944 1 _106% 1 _104 Vi 6r 1961 3. _ 88 Dorillard Co 7s 1944 ? ....106% La A Ark 6s 1927 1 .... 69% 3 _71 I7,ou A Nash 7b 1930 1 ....104% unified 4s 1940 4 .... 84 1 .... 83% At Knoi A Cln dlv 4s 1965 6 .... 72% Manhat Ry 4s 1994 1 _ 57 tax exempt 1 .... 57% Mkt Bt Rwy 1st con 6s 1924 Il - 1 - 3 .... 1 _ Marland 8s 1931 2 _ 94% M*x Pet of Del s f cvt 8s 1936 91% 83 44 43% 44 70% 70% 70% 70 OU 98 lu L 9 4%s sjjv, I pr lien 4s 193?'; 1996 77% I 78 l 66 66% 60% 1 _ 98% Mich Stato T 6s 1924 1 .... 89% Mldva'.e St?t4?l 6s 1936 7 _ 7?% 7f% 76% ? _76 Minn & St L 48 1949 J9 .... 40% M 8 S M & A 4a 1920 . 6 -90 M St P & S S M 4b 1938 3 _ 80% 2 -80% M K & T 1st 4b 1990 10 _ 61% 10 _61% 6 _ 61% 2d 4s 1990 4 _ 30% Mo Pac Cs 1965 1 -79% gen 4a 1975 6 _ 54% 1 _ 54% 6 _ b4% 1 -64% 2 _ 54% 1 _54% 1 - 54% 1 .... 54% 1 .... 64% 54% Mob A O gen 4s 1988 4 _60 Il SI I, . C dlv 1#31 1 _78 Mont Power 6a 1943 10 _ 86% 1 - 86% Nat Rys M 4%s 1926 20 -19 Nat Tube 6s 1062 1 -92% N O T & Mex 6b 1935 1 _ N O ?lit N E r?f & Imp 4%s 1959 71% u% Pac O ?& K 5s 1942 Packard Mot Car 8s torn 1931 2 - 96 % 1 - 96 2 _ 96% Pan-Am Pel ?S- Trau 7b 1930 1 .... 89 Penn 7s 1930 1 _103% 1 -103% 2 -103% 3 ....3 03% gld 6%s 1936 1 - 99% 42 7 ru ci i 99% 08% 99% 99% 99% 99% 99 % 99*4 99% 99% 99% 99% 09% ?9% ?9 99% 99% 87 % 5 _ 3 _ 1 _ 14 _ 6s 19G8 ?1 - 10 _ 4 - 87% ??ni 4%s 3 9G5 6 -81% 6 _ 81% 1 - 80% P?re Mai-q 6s 1956 ,01, i 2 .... 83% 69% puts C & Si L 4%s Ser C 1942 ? rfg 4s 1H59 7 - 40% 1 - 40% Sharon Steoi Hoop 1st 8s Ser A 3 941 96% Con SinclalH_ OU cvt 7%n 192 ^^^^ 12 1 93 92% 92% 10 ... So Beffl_ T 6s 1941 5 .... 82 S'i Pac rfg 4t 1986 30 77% 77% 77% cv 4s 192 9 20 .. .. 82 2 - 81 % 1 _ 81 % 2 - 81% 7 - 81% 3 B6?. Kl% So Pac-San F M-trrimnal 4s 1950 1 _ 73% Southern Ry 5s 1994 19 _ 4s 1956 84? 72 N T Cent col 7s 1930 1 _102 ci ?b 6b 1935 2 _ 93 1 -92% 1 . 93 rfg '4% s 2013 1 - 79 4s 1934 10 - 78% con 4s 1998 2 _70 5 - V0V4 rf? 3%s 1997 6 .... 07% 2 -66% 1 .... 66% N Y Cn-Ii S 3%e 1998 E -63 N T Gas E! 1, H & Power Ea 1948 3 -85 pm 4s 1949 1 - 68% N Y N H & H 6b 1948 3 .... 01% 1 .... 60% N Y '& North 6s 1927 4 .... 34% 5 - 34% N Y & W 1st 4s 1992 1 -60% N Y Rys ,fg 48 ctfs of depoa 1942 3 - 20 N Y State Rv con 4%s 19?: 1 - 66% N Y Teicph 6s 1949 4 - 93% <%s 1939 I 1 .... 82% 7 .... 82% 1 -82 N Y W & Bn 4%s 1946 5 .... 39% 2 _ 40 Norfolk So 6k Serles A 1961 1 .... 46 Norfolk & W con 4s 1996 ? .... 78% ! 2 .... 78% North Pac 6s Serles B 2047 2 -100% 3s 2047 1 ..... 67 North Pac-Gt North joint 6%s 1936 .100 rhila Co 5s 1922 _ 1 _ 97% 1 - 97% Reading g?ni *s 11*97 1 - 76% 11 - 76 Repub I & S 6s 1940 2 - 83% Rio O W 1st 4s 1939 2 .... 66% col 4s 1949 1 - 52 R I Ark & I. 4%s 1934 1 _ 67 % E .... 67% 1 - 67% St I. Ir Mt & S 4s 1929 5 - 73% 4 _ 73% 2 .... 73% 4s Rlv &. Gif dlv 1933 1 _ 69 10 .... 68% St L & S F 4n Ser A I960 16 62% 62% 62% 67% 1.7% 67% 34 14 10 B_ 4s Mob ?t O dlv 1938 3 _ 60 15 - 61% 5a Memphis div 1999 1 - 83% Stan OU Cal 7s 1931 1 .103"% . .103% ? 10.".% .103% . .103% ,.103% .102% .103% 16 _ 62% 12 _ 62 11 - 61% 5b Serles B 1950 6 _74% 10 - 74% 6s Serles C 1928 a _ 90% 1 _ 90 E _ 90% adj 6s 1955 Ter R R Assn of Bt ?j 4s 1963 1 -72 Tex & N Orl 6s 1943 5 - 78 Third Av rfg 4s I960 5 _ 52 a?ij 6s I960 3 0 _ 34% 1 _ 34 3 _3 4 % 19 .... 33% 3 - 33 Tidewater O 6%s Interim ctfs 1931 1 .... 96% 1 - 95% | 1 _95 1 - 95% 1 - 95 Tr-Cy Ry & L 6ii 1923 1 _ 92% Un Pac 1st 4s 1947 10 - 82 1 - 8T% rfg 4s 2008 2 -78% cv 4s 1927 2 .... 85% 2 - S6 1 - 85% 1 -85% 4 - 8 6 % 6S%?Un Tank Car 34 30 8 . .100% ..100% ? ? 09% ..100% ? . .100% ..100% . . .100% . .100% ______!. .100% Nor States l'r Es Series A 1941 8 .... 79% Nwn Bell Tel 7a 1941 1 B6?. .101% 3 -102% 1 -102% 1 -102% S -102% 5 ....102% 8 -302 ....102% ....102 ? -..102% ....102% ....102% s7f,102 ....102% -102% 1 ....102% 2 -102% Or & Cal 1st Es 1927 6 - |>1% Or Short L Es 1946 ? .... 91 1 s30f 90 Or-W R n & N 4s 1981 1 .... 71% s 1930 15 _1 01 y, V S Rubber 6s 1947 6 .... 79% 7s 1923 5 - 99 TJ S Steel s f Es 1963 94% 94% 94 % 1 - 68% 4 - 68 % 3 _ 68 % 1 .... 68 1 - 67% 6 _ 68 IG -67% lnc 6b 1960 2 - 58% r, _ 58% 32 _ 58 1 - ES% ? oit. ti'% 1 - 68% 6 .... 57% 35 _ 58 4 .... 67% 2 - 58 6 - 57% ? - 68 2 _ 67% St L Swn 1st 4b 19S9 1 - 67% 10 _ 67 ?_ con 4s 1932 ! 2 - 87% 10 - 64%| 1 .-..87 7 .... 65 ?West Elec 4s 1 .... 66% 1922 1 - 64% 1 _97% fi .... 64%| W Maryland 64%! 4s 1952 Va-Car Chem temp deb 7%s 1D32 1 . ... 93 y. S 93 2 - 91% 4 .... ?1% Virginian Ry Es 1962 3 _ 83% Wabash 1st 6s 3939 Tr 5b 196! 2 .... 68% 2 - 6S% 2 .... 68 '4 3 _ 68% 68% West Pue 1946 55% 64% 54% 80 St P & Kan CjWeBt Un 4%s Short I,lno 3 960 4%s 1941 b _ 80 10 -66% Wist Shore 4s 3 - 67 I 2361 6 - 66%? 2 _ 73", Wpstgh Elec San A & A P 4s 1943 C .... 62% S Fe Pr & Px 5b 1942 20 - 87 Seab A L con 6s 1948 2 _ 7s 1931 , .302 . . .103% -101% -101 W -101% -103 % -101% 1 37 _ 1 _ 60% 2 - 50 adj 6s 19 4 9 1 - 29 11 - 28% 2 - 28% 4s stamped 1950 60%:Wick Spen St 60% lit ?n 1936 50 ] 4 .... 90% 49% Wilson Co 1st 60 j 6s 1941 7 .... Si!'.'. 2 .... 8?;% 1 _ 86% 3 - 86% cv 6s 1928 1 - 80% 1 .. .. h n -'s, 1 _ 80% The Tribune prints each day the ma? turity dates of all active bonds quoted on the New York Stock Exchange. The return on a bond to the mvestor depends upon three factors: the rate of interest the security bears, the market price and the distance of the maturity date. To figure the precise yield on a bond it is necessary to use yield tables, but the approximate yield can roughly be figured out by the following formula: Divide the closing quotation on a bond into the rate of interest it pays, and the re? sult will be the annual return. If the bond is selling below par you must allow also for the appreciation of the principal. To do this subtract the mar? ket quotation from par, or 100, and di? vide the remainder by the number of pears the bond has to run before ma? turity. For example, if a 6 per cent bond is selling at HO and has ten years to run, the annual return will be 6.66 per cent. The difference between par and the market price will be 10 points, subtracting 90 from 100. Dividing ten points by ten years, the quotient will be 1. This figure is to be added to 6.66, which is the annual return, and the re? sult, 7.66 per cent, will give you ths ap?sroximatc yield. What Things Cost Quotations are cash prices in FOODS? Commodity and nnlt. Yesterday. Wheat (No. 2 hard1, bu. $1.33'/t Corn (No. 2 yellow) bu.791a OaO* (No, 2 white) bu.51 Flour (spring pat.) bb!. 8.00?$9.00 Href (family) bbl. 15,50 Pork (mr.?u*> bbl...... 24.75 primary markets. Previous 1920 range. .30(p) .1345 .07 .40'/ .38 Sujrnr (granulated) lb.OD95@.06li Coffee (No. 7 Bio) lb.07f> Butter (creamery, first) lb.... Egg? (fresh, first) doz. TEXTILES? Cotton (middling upland) lb. . Print cloths (38/sr?64x60). . Hllk, raw (No, 1 Sin.) lb. D.76 Wool (fine Montuna scouredj Ib METALS - Iron (2x Philadelphia) fon. 21.50(3)23.50 Steel billets (PitUburgh) ton_33.00 Lead (spot) lb.0435 Copper (spot) lb.11?/4 Tin (Straits) lb..28'/a BUBBER AND HIDES? Rubber (ribbed-smoked sheets) Ib .143/? .15 Hides (calfskins, city) 9 to 12 lbs. 2.60 2.60 .85? .90 day. $1,37 .61 8.30?$9.5O 15 50 24.75 .0585?.0615 .07,', , .39? .41 .35? .38 .1315 .07 5.76 .85? .90 21.50@23.50 33.00 .C435 .11 I 4 .26'/, High. $2.00 8.81% 1.50ft 16.25 28.00 47.00 .23 .16% .77 .89 Low. $1.70 ?94 Vz .CO 9.00 20.00 29.50 .08 ? 06/a .51 Vz ?42 Vz .43% ,14'/2 .26 .0/1/2 17.45 6.00 53.50 33.00 53.50 65.00 .09/2 ,191/a .651/2 .54'/j 10.50 33.00 43.00 .041/ ?!2/ .32 .15'/ 2,10 turcs and came 25 to 55 points higher, ranging from 11.50 to 12.8? for mid? dling. The local market for spot cotton was steady and 25 points higher, at 13.45 for middling; no sales were reported. The rango of prices: Tliurs. Open. High. Low. Close. close. Aug...-12.91 <?i> - 12.57 Sept... 13.07 18.16 13.07 13.24??? 12.92 Oct.... 13.18 13.57 13.18 1S.44?13.47 18.18 Nov ...-.-13.67 0-18,86 Dec_ 13.65 13.97 13.63 lit.85*0 IS.86 13.54 Jan.... 13.63 13.92 13.68 13.800 13.82 13.50 Fob_ 13.73 13.73 13.771 18.86? - 13.55 Mar... 13.87 14.18 13.80 14.05W-14.07 13.72 Apr_- 14.10?)- 13.77 May... 13.92 14.20 13.88 14.11? - 13.78 Juno...-.- - 14.18? - 13.86 July... 14.00 14.07 14.00 14.210- - Southern Spot Markets?Galveston steady, ."0 points higher at 12.80c; nales 59 4 bales. New Orleans firm, 37 points higher at 12.25c; pales 2,659 bales. Mobile nominal, 25 pointa higher at 11.25c; salea nil. Sa? vannah steady, 43 point? higher at 12.25; sales 342 Indes. Charleston quiet. 50 points higher ?lt 11.75c: sales nil. Norfolk steady, 60 points higher nt 12.35c; nulos 869 balea. Augusta steady, 37 points higher at 12.25c; sales l'62 bales. Memphis steady, 25 points higher at 11.50c; sale? 1,500 bales. Houston steady, 30 points higher at 12.60c; sales 3.798 bales. Little Hock steady, 25 points higher at 11.26c; salea 354 bale?. Dallas steady, 55 points higher at 11.70c; sales 2.019 bales. Montgomery firm, 25 pointa higher at 11.25c; sales 44 bales. Fort Worth steady, 30 points higher at 11.50c; sales 650 bales. Cotton Statistics Last Last Yesterday, week. year. Tort receipts... 10,778 13,594 5,341 Exports . 18.734 30.C75 1,677 Exports season. 69.458 ?- 26,620 N Y stocks_ 15(i,971 156,141 41,112 Port stocks. .. .1,303.367 1.3-17.936 743,824 Interior rec'p'ta 13.640 12,340 4,i Inter ship'm'ts. 16,710 14,130 7, N Y arrivals... 1,819 46S Liverpool cables?Spot cotton quiet, at 16 points advance; middling. 8.49d; sales. 5,000 j bales;, 3,000 American; Imports, U.000, all American. Futures opened steady, at 3 to ; 5 points advance; closed firm, at 3 to 9 points advance. October. S.SKd; December, 8.99d; January, 8.99d; March, 9.09; May, 9.13. Manchester?Yarns and cloths dull. Cottonseed Oil The market, closed with prices 3 to 11 points net lower. The range of prices: Thurs. Open. High. Low. Close. close. Spot. - ?? - 8.6008.85 8.75 Aug.- 8.6008.75 8.70 Sept. 8.76 8.76 8.70 8.7208.76 8.81 Oct. 8.86 8.86 8.76 8.S208.84 8.93 Nov. - - - 8.50<?f8.53 8.51 Dec. 8.40 8.47 8.40 8.47^8.48 ? Jan. 8.45 8.61 8.41 8.4008.51 ? Feb. -- 8.6308.58 I March...- - 8.5808.67 8.60 Sug? jar and Coffee Raw Sugar Futures The range of prices: Thurs. Open. High. Low. Close, close. Aug.- - 3.2303.25 3.28 Sept.... 3.27 8.27 3.27 .3.2603.27 3.31 Oct.- 3.18CT3.20 3.26 Nov.... ?- 3.11 (n 3.13 S.18 Dec... 3.11 3.11 3.08 3.0603.08 8.13 Jan.- 2.0702.99 3.00 Feb- 2.90 2.90 2.90 2.8802.90 2.86 Mar.... 2.86 2.86 2.84 2.8302.84 2.86 Apr.- 2.8502.87 2.87 May.... -- 2.8802.90 2.90 June.... - - - 2.9602.98 2.98 July.... - - - 3.0503.07 3.07 Coffee Futures * The range of prices: Thurs. Open. High. Low. Close, close. Aug .... -?- 6.4506.46 6.50 Sept.... 6.59 0.59 6.65 6.5606.50 6.59 Oct.- - 6.70 06.71 6.75 Nov.... -- G.8506,88 6.fit) Dec. 7.05 7.05 7.00 7.0007.01 7.05 Jan.- 7.1207.13 7.17 Feb.- - 7.2407.25 7.29 Mar- 7.38 7.38 7.38 7.3507.36 7.42 Apr.-?? 7.4507.48 7.52 May.... 7.69 7.59 7.55 7.5607.56 7.62 June-- 7.6607.66 7.68 July.... 7.73 7.78 7.72 7.7607.76 y.75 Butter, Cheese, Eggs Butter?Receipts were 9,050 packages. Croaaaaery, higher than extras, Ib., 45 @ "Vic; extras. 92 score, 44?44Viic; firsts, 90 to 91 score, 41 Va 043'7-c; firsts, 88 to 89 score, 39?40V4c; seconds, 8 3 to 8 7 score, ?6@38V<?c; lower grades, 33035c; unsalted, higher than extras, 46 V? ?47c; extras, 43',-.. 048c; firsts, 40 ?44 V?c; seconds, 36 V4? :? ; state, dairy, tubs, llnest, 42V?@43V6c; good to prime, 40?42c; common to fair, 3039c; ladles, current make, firsts, 340 jo; seconds, 29 !? 0 30c; lower gradoB, 28 529c; packing stock, current make, No. 1, ,'i0c: No. 2, 28V4 029c; lower grades, 26 0 28c. Cheese?Receipts were 2,178 boxes. New York State flats, specials, 21 021'?c; aver? age run, 2O02O*ic; state twins, specials, 21021 Vic; average run, 20?20%c; "Wis? consin, double Daisies, fancy, 20 Va? 21c; single Daisies, fancy, 21021 Vic; Young Americas. 23084c, Kggs?Receipts were 15,032 packages. Fresh gathered, extrae, dozen, 42044c; extra firsts. 3114/411-; firsts, 35038c; sec? onds, 30034c'; trade eggs, 25030c; dirties, regular packed, No. 1, 26028c; No. 2 and poorer, 20025c; fair to choice, dry, 22 0 24c; refrigerator, charg?s paid to expiring dates, special marks, fancy, 36c; ili-sts, 36037c; seconda, 31034c; whites, 40?44c. Wheat Sells Lower On Expectation of Increased Receipts Indications That Visible Sup? ply Would Show Big Gain and That Growers Would Offer Crop Freely Factor CHICAGO, Aug. 5.?Wheat prices tumbled still lower in price to-day, in? fluenced more or less by assertions that the present movement to market is limited only by the supply of rail rond cars available. The close was heavy, 2Vic to 3?4c net lower, with September $1.18'i to $1.18% and De? cember $1.21% to $1.22. Corn lost IVsc to ltec and oats %c to lV?c. Provisions finished unchanged to 52c lower, p With country offerings In the Southwest somewhat larger, and with gossip current that spring wheat growers would sell freely direct from threshers, the wheat market faced predictions that the visible Supply total on Monday would show 3,000, 000 to 4.0i)0,ooii bushels Increase. Cnder such circumstances, a leading elevator in? terest here was a persistent seller through? out the day, and there was also much selling pressure ?from the Southwest. On the downward slide of prices export de? mand brond?'ned out, but otherwise the market seemed to be without and ade? quate support ami the rallies failed to hold. Prospects that railroad rates would he reduced between Chicago and the At? lantic seaboard had no effect on the mar? ket, as the hulk of shipments at this time are by lake at figures much below the rail rate. Corn and oats declined with wheat, and the September delivery of corn touched the lowest August price since 1907. Sep? tember oats was only a fraction above the lowest level this season. Sharp downturns In the value of hogs weakened provisions. _ Grain Prices Wheat Yesterday's Previous Tear New York: close. close. ago. No. 2 hard.$3.33% $1.37 ?? Chicago?The range of prices. Thura. Open. High. Dow. Close, close. Sept_ 1.21 1.21% 1.3 8 1.18% 1.21% Dec. 1.24% 1.24% 1.21% 1.22 l.M% Corn Yesterday's Previous Year New York: cloBe. close. ago. No. 2 yellow, .150.79% $0.80% $1.70% Chicago: September ... .56% .57% 1.48% December ... .67 .68% 1.26% Oats Yesterday's Previous Tear New York: close. close. ago. No. 3 white..$0.48 $0.49% $0.98 September ... .36% .37% .73% December ... .3 9% .-10% .71% Rye Yesterday's Previous Tear New York: close. close. ago. No. 2 Western, f. o. b.$1.22 $1.25% $2.23% Flour and Meal Yesterday's Previous Year New York: close. close. ago. Sp'g pat.$8.00???9.no $.8.301?. 9.50 $12.76013 75 Crnml.1.92 %@2.05 1.92%@2.05 3.85? 4 or, Rye- 7.2.r.(i;, 7.05 7.25@7.70 11.00?11.50 Bran.. 24.00 24.00 64.00 Livestock, Meats, Provisions Yesterday. Year ago. Llv beef, fair to prime, 100 lbs. $7.75? 9.35 $13,50@15.50 D r e s s " d beef. sides, lb.12? .38% .17? .25 Live i-.-uls, com? mon to prime, 100 lbs. 8.50@14.00 14.00@20.00 Dressed veal, city, lb.13? .21 .22? .32 Live ewes, 100 lbs. 3.00@ 6.00 E.00? 8.50 Dressed mutton, ??ty, lb.07? .12 .12? .19 Live lamba, fair to prime, 100 lbs. 9.00@13.00 11.00@15.00 Dressed lambs, city, lb.15? .27 .20? .32 Hogs, 100 lbs:.. 11.50@12.50 16.5U@17.50 Dressed hogs, bacon, lb.17%? .18 .24%? ? Pork, bbl. 24.50(^.25.00 33.00?34.00 Mess beef, bbl... 12.00@14.00 1?.00@19.00 Lard. Middle West, 100 lbs. . 11.80? 11.90 1 9.20 ?19.35 Union Gas Earnings Consolidated statement of Union Natural Gas Corporation and affiliated companies for the six months ended June 30 showed operating revenue <:f $4,148,319. Net income after deduction of operating expenses, taxes, deprecia? tion, interest, etc., amounted to $1,177, 153. Curb Oil Stocks Under Pressure Show Small Drop Profit Taking in Standard of Indiana Causes Reaction of More Than Point; Oth? ers Decline Fractionally Most of yesterday's activity on the j curb market was centered in the oil j group, where trading was fairly active for a time. Prices as a rule fluctuated within a. narrow range. Standard Oil of Indiana ensod off more than a point under profit taking, closing at 707i3, At this price, how? ever,' the stock showed a substantial train for the week. Other oil share? sagged slightly under pressure, Mara cnibo, International Petroleum and Carlb being lower. Cities Service common rallied fractionally, but th-r. bankers shares were in supply. Glen Alden Coal developed increased strength and worked up above 35, clos? ing at a net pain of %. Industrials Sule*. (Itien. High. Dow. Datt. 1300 Acme Coal Co. 90 ion 90 100 1000 Acme Pack Co 1% 1". 1% US 300 car l.t & P... 1-,\ !,?(, If", 1 vV 1000 Ch & K 111 lly 14% 14% 14% H% lOOOContl Motors.. 5% 5% 5% 6% 100 Durant Motor? 2? ? 28% ?8% 2K% ?inn Emp Food P.. 32% 32% 32% 82*44 2200 Glen Alden Cl. 34% 35% 34% ."5% 71 CO ?Part Tire & 11 1? J-? 91 91 300 Philip Morris. 4'i 4% 3% 3% 400 Radio Corp .. 3% 1% 3% 1% COO Sweets C of A 2% 2% 2% 2% 700 tin Profit Sh.. 1% 1 ?% 3% 3% 3200 I'm Ket S C.lv. 6% 6% 5 5 5700 ?'t.* S Ship Cor 20 23 39 20 13900 ?U S Stmsh C. 33 34 32 34 400 *W End Chem 70 70 65 65 Oils 2900 ?All o,\ Oil ... 4 5 4 4 r.oo Ansrlo-Am <tn. 16% 16% ir,% 35% 2600 Arlt Nat (Jas. 30% 10% 10% 10% :;r.nn ?Boone Oil .. . 20 21 20 20 23200 *Bost-Wyo ... 75 77 Gfi 72 1000 Carlb Synd .. 4% 4% 4% 4% 70 Cltloa Servie?.118 119 118% 118% linn do B T sh.. 13% 13% 13% 13% 800 Elk Pasln Pet B% 6% 6% fl % 200 ?Engineers P. 4X 48 48 48 1600 Federal Oil .. IV 1% 3% 1% SOOailllland Oil.. 3% 1% 1% 1% 4700 ?Olonrock Oil. 93 94 87 87 4S00 ?Hudson Oil., 18 20 15 15 3X00 Internat! Pot. 3 3 % 31% 13% 11% 1400 Maracalbo Oil. 21 ,21 20 20% 0100 ?Mexico Oil .. 82 85 82 82 13000 ?Noble O fi O H 18 17 17 100 Omar O A G. 1-flt 1 yV 'A 1-?i 700 Prod & Kef... 3% 3% 3% 2% 400 Sapiilpa nef 0 3 3 3 3 1400Rimms Pctr. . . 6% 7 fi % 6% 3 700 SUolly Oil ... 8% 3% 3% 3% 2200 Sta O of Ind.. 72% 72'% 70% 70% 9600*Texon O & D 57 GO 55 58 200 ?Zap Pr & R. (12 62 50 50 Mining 2000 ?Al-Br C Met. rtG 36 36 3G 4000 ?Ar P M of M 5S 58 68 58 4500 ?Biff LedgO .. 23 24 22 24 102700 ?Host &. Mont 68 70 64 69 1000 ?Candelaria S. 31 22 30 32 4001) ?Corte? Silver. 78 80 77 80 , 600 Crea Con O M ill 1% Mi 1% 8400 ?Divido Exten 32 32 32 22 11000 ?Kl Salv Minea 25 26 23 23 60800 ?Eur Cr M Co 47 50 44 46 6300 ?Goldf Flor M 42 42 41 42 9000 ?Harmill D M 11 31 10 1 ; S00O ?Kriox Dlv M. 11 11 31 11 3600 ?MacNam Mln 16 16 35 35 G200 ?Nat Tin & T. 65 68 G4 64 1200 ?Nev Ophir ..28 28 28 28 600 Nlplsslng M .. 4% 4% 4% 4% 1500 ?Ray Here C. 30 30 30 30 600 ?Rex Consol. .8888 8 400 ?Silv IM of Am 1 -rV MT? 1% My 2500 ?Tonopah Dlv. 80 81 79 80 6000 m Eastn M.. 2nt>i 2% 2-ft 2-,V 1000 *W Utah Cop. 24 24 24 24 Bonds Sales (000 omitted). Open. High. Low. Last. 4 Al'd Packers 6s 44 45 44 45 16 A T & T 6s 1922 98**? 98% 98% 98% 1 do 6s 1924-97% 97% 97% 97% 22 Anaconda C 7s. 93% 93% 93% 93% 14 Ang-A Oil 7%B.100% 100% 100% 100% 7 Armour & Co 7s 97% 97% 97% 97% 6 Beth St 7a 1936. 95 95% 94% 95% 15 Chi Un St 6%s.l04 104 103% 104 5 Consol Gas 8s. . .100% 100% 100% 100% 2 Cons Textile 7h. 1 01 % 101 % 101 % 101 % 3 Cop F. A Ss 1925.102 102% 102 102% 22 Gd Trunk 6%s.. 96% 97% 96% 97*:i 4 Gulf Oil Co 7s.. 97% 97% 97% 97% 6 Humble Oil 7s.. 98 9S 97% 97% 111! C 6%s '36 w 1.101 101 101 101 9 Int Rap Tran 7s 79% 79% 79% 79% 7 Lib McN & L 7s 95 95 % 95 93% 17SearsR 7s '21 ly.100 100 100 100 7 do 7s '23 3y.. 97% 97% 97% 97% 38 So West Tel 7s. 98 98% 98 98 17 3 O N Y 6%s '33.100% 100% 100^ 100% 3 do 7s 1926_102% 102% 102% 102% 17 Swift 7s 1925... 97% 97% 97% 97% 5 Tex Co 7s notes 99% 99% 93% 99% 27Vncuum Oil 7h. . 1 01 % 101 % 1 01 % 10! % 1 Westn Elec 7s..100% 100% 100% 100% "Sells cents per sh.-tre. Sugar Dividend Passed Manati Directors See Slump in Earnings Directors of the Manati Sugar Com i pany yesterday voted to pass the com < mon dividend of $2.50 a share due at ? this time. In a statement issued after j the meeting Manuel Rionda, trea3-, ' urer, said: "The company during the present I fiscal year paid dividends- on the com I mon aggregating 7% ,per cent. It is not possible now to estimate earnings j for the present fiscal year in view of the fact that a large part of the crop ] is still unsold. It is not likely, how | ever, earnings applicable to the com ! mon will exceed the amount of divi ! dends already paid on the commo?, "In these circumstances and in view j of the desirability of conserving the surplus of the company, directors ac? cordingly decided to omit the divi? dend ordinarily paid on the common on September 1." Barnsdall Deficit $385,911 For the six months ended June 30 the Barnsdall Corporation reported a net loss, after deducting depletion, de? preciation, expenses and all interest charges, of $385.911. Operating profit amounted to $1,232,277. Markets in Other Cities Baltimore Sales. Opon. Iliph. Low. Last. ill Coal _ 84 85 84 85 10 Con Power .. 82% 82% 82% 82% ?0 Mous Oil pfd. 09% 69% 69% 69% 100 Cent T S pfd. 3% 3% 3% 2% 50 Davison Chem 36 26 36 36 7 New Am Gas. 23% 23% 23% 22 % 135 Penn Water P 84\ 84% Mr-, 84r>i 10 U S Fidelity. .116% 116-? 116% 116% Bonds 81000 Oosdnn 6s .... 9* 94 94 94 2000 Fia C & P 6?. 94 96 94 95 4000 United Ry 4s. 6 1 64 61 64 Boston Mining: 20 Ahmeek _. . 48 4? 48 48 10 Ariz Coml ... 7% 7% 7% 7% 305 Cal Ariz . 48 4S 48% 46% 15 Cal Hecla ...220 320 219 219% 200 Carson . 12 % 12 ':', 12 12 80 Centennial ... 8% 8% 8% s % 20 Copper Range Sl% 31% 31% 51% no Davis Daly... 8% 6% 6% B% 110 Mast Butte. ..8 S 7% 8 IOC Franklin .... i % 1 % 1 % 1 % 1O0 Hi Ivi u a . 1V4 1 % 1 % 1% 144 Island Creek.. 66% 65% 88 67, 120 Isle Royale... 19 19% 19 19% 60 La Salle . 1% 1 % 1% 1% 135 Mason Valley. 1% 1% 1% I'-, 476 Mayflower C C 3% 3% 3 3% 80 New Cornelia. 13% 13% 13% 13% 160 North Butt? - ?% 9 % 9% 9?, 110 Old Dominion. 82% 22% 22 22 .-. Pond Creek . . 16 16 15 16 35 Qutnc'y . 36% 86% 36% 38% ' 10 South Utah. .. 10 in 10 10 ' 75 Trinity . 1 % 1% 1 % 1 % BOO Tuolumne _ 44 44 44 44 i n7 U S Smelters. 30 710 30 30 30 Utah Cons ... 3% 3% 3% 3% 620 Utah Metals.. 1% 1% 1 ,?? lft Railroads ?4 Bos & Albany.1S4 124 124 124 . 65 Bos Kiev. 65% 65% 66% 86% . Bos * Maine 20 20 20 80 50 X Y N II 4- 1! li'i 18% 1R% 16% iq Nor & IV ptd 6.1 59 59 59 12 West. Bnd , ... 48 42 41 41 Miscellaneous. 10 Air.n Vgr, .... I? 14% 35 . 60 Amu Oil. 4 * 4 4 125 Amn Bug ir. , 86% 66 -, 66% KSK 14 -. ? ptd . . . il% 88 88% 88% .-? \-, . v. .. il 70% 7.i% T0% 70% 13 do pfd . ?7 9J ?- if: B7% - I) A ?on Tel.... 106% 105% 7ii7.% ,05',, r.lury . ?. ;<-. 95 Baatern S 8.. 13% 13% ?13% ?-4 K'iisim .160 lit' 160 " 160 25 onur . il il it il Sales. Open. Hich. Low. Last. 10 Greenfield .... 22% 22% 22% 22% 3 0 Ttit Cot Mills 36 36 36 36 173 Int Prod. 3 3 3 3 40J T Connor.. 3 0 in 10 3 0 1C5 l.lbbv . %?% !i% 9 a 2 .!...?? ?va . 3 5 16 16 15 117 Mans Gas. 71% 72 71% 72 I do pjfd. 61 61 01 61 71 Mo Elw fst pfd 76% 76% 75% 75% 16 Miss RV P pfd 66 Co 65 65 ?75 Mex Inv . 25 25 22% 22% 196 Nati Lea. 8% 8% x S\i 5 New Ente Tel. 103 103 103 10H 5 Pac Mills.166% 166% 166% 166% 1 Reese Hut Hole 18 13 13 13 j 250 Slmma Mug. .. 6 6 5 *t 6 45 Swift . 98 9:? 97 ??? 07% 107L'nl Drugs ...?5% 56% 53% 53% 10 do 1st pfd.. 39 39 38% 38% 46 Uni Fruit...104% 104% 104 104 43 Uni Shoo. 36 36 36 3d 91 ilo pfd .... 24 24 23% 23% 19.1 Ventura . 17% 17% 17'.k 17% 145 Waldorf . 2? 20 20 20 65 Waltham pfd. 46 46 45% I 106 Walworth ... 0% 9% 8% 9% 10 Warren 1st pd 19 13 19 19 Bonds 529,000 A G W 5s.. 47 47 47 47 3,000 C .1 S 4s.... 64% 64 % 64 % 64% 3.000 Gen BleC 6s. 102'? 1*02% 102% i02% 1.000KCM* B 5a 67% '.7% 07% 67% 8,000 Miss H IT 5s 77% 77% 77% 77% | 13,000 West Tel Es.. 82 82 82 82 Boston Curb Bid Ask1 Hid Ask Arlu Extn... 1 2 Iron Bloss...14 19 At la Sllver..l9 21 La Roa? ... 15 25 'Ariz Tip Top 3 4 Majestic...'. 5 7 I Blk Hawk.. 6 it Mex Metal?-..? 40 . Boa 4 -Mon 66 64 I Mutual D T..2? 80 Chief Con... 2,'if 2 % M i !'.v Moss..-- 26 Calavera? ...75c 1% Monarch ...? 15 .'. new.34 86 Nati L & Z..? 2 Denbigh . 7 9 Nixon.3 7 Eagle B B.. 2 2 % Rainier .... 2 3 Eureka Cr 0.4.6 47 Svn Metala.. 6 7 Fortuna ....? 2 Bllver Reef.. ?<? 5 Qads?ett ...40 50 Un Ver Ext.22'4 23 HomaOll... 3 4 ; Yukon.1 1 '.i Iron Cap. .. 6% 7 Chicago Sale?. Open, lliph. Low Last 3 . Am Shlpbldg pf r..; i>, r ?; SO Armour pf. 91 "l 91 91 25 Booth Fish pf. 16 25 25 25 , .,, Brisco? .v..tors 10% 10% 10%. I ?> ! 25 Case Plow .... 1% 4% 4 % 4',. 75 (-.-.ni w Bdta'n.103% 109 108% 109 111 : Llbby McNeil.. 9 9% 9 9 ... | Mi ntf-ry Ward IS IS 3 S 18 I _. ..i Nal Heather... 8 8% 7% S ?0 Pick ?k CO. 13 S3 23 23 69 100 3 1 0 1420 60 2SS0 150 300 60 f-'tew't Warner 26% Peoples Oas. . . 53% Plggly Wiggly. 14% Shaw . 44% Swift <ft Co, ... 98% Swift Internat. 24% Stand Gas pf. . 34% Union Carbide. 4 6, *v? Wahl. 42% West Knitting. 11 % Yellow Mfg.. . . 99 Open. High. Low. Last. 25% 5:; % 14% 4 4 % 88% 24% 34% 4 5% 42% 11% 99 H% 44% 97% 24% 34% 44% 40 11% ?9 25% 53% 14% 44% D7% 24% 34% 4 6 % 4 0 11% 99 Bonds $7O00 Chi C&C Ry 5s 34 34 34 34 4000 Chi C Ry 1st 5s 64% 84% 64% 64% 1000 Chi Rys. 1st 5s 64% 64% 64% 64% Detroit Am Lt & TV, Columbia Sug. Cont Motors.. . Edison . Ford of Can.. . Packard . do pf. Paige . Open. High. Low. Last. 92% 7% 5% 91% 2 46 7% 5% 91% 246 6% 63 17 92 7% 5% 91 % 210 0% 63 16% 7H B% 91 % 240 6% 63 16% Philadelphia Cramp ctfs? 40 iPhilaCo rf 31 El S Btry.107 IOS ?Phila Elee I,k Sp Crp Lgh Nvgn 63% Keystone .. 7% do pf... 23 P?nn Salt. 69 Phila Co. . 30% 7%'Uh!la Rp T 16% 84 Phila Trac 53 8 Tono Bim. 1 30 Tonopah . 1% 69 % Union Trc 20 21 Tt.l *J Im 33% Pittsburgh 11160 100 I o s o lo-i : n Ark Nat Gas. . 9% Barnsdall B. . . is Ouffey GUleaple 11 *i Ind Brew pf. . 7 Mfrs L. & H, . 4 6 Nat Fireproof. 7 Ohio Fu* : Sup -14 Oklahoma G i.: 21 } ? Is.? . i , 11 0 Westing Air Br 89 9% IK 1 1 % 4''. 31% 22% 17 53% 1% 1% 30% 34 11 IS 11% 7 46 7 7 7 44 44 44 i 2.;% 28% 23% ... 11 6% 110% 110% ?9 88% 89 Adanac ...... Apex. I At las .: Bailey. t>rs Krl. 1*118 ... Crown Rsv .. 1 ?-> .i Lake. . ? Grt Nr'.i.ri. ,? . : Reef .. Margraves. . Hollinger .. ? Lake Shore j Mclntyrs . . Toronto 3 I.Vng Crp Cn I N'-wray . ... Piran Lake.. Pore Crown. Porc T P .; ? llnprl.. Prs E Doma Tck Hughs. Tmshmng.. . 1 Thmp Kr?t.. Vacuum Qaa Wait pika. 20 4 S 1% 10 ? 3 4 3 1% ? 7 3? 1%1Wc 1H1 si Uoiu?. S Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company Nos. 16, 18, 20 & 22 William Street Branch Office, 475 Fifth Avenue At Forty-first Street New York London Paris Foreign Exchange Administrator Guardian Member Federal Eeserve System ar.d ?Tcv; York Clearing Soase Refined Sugar Prices To Drop, Federal Insists I Must Lower Quotations or Ac? cumulate Stocks, Is View; Crops Are Large Refiners will be forced again to re ; duce prices or else to accumulate re ! fined stocks, says the Federal Sugar ? Refining Company in its weekly market j review, and the sporadic demand which j has been apparent will soon be satis ' fied, if recent large purchases by re I finer s are reflected in increased melt? ings and a pressure to sell refined I sugars. Beet sugars pressing on the i market are taking care of much of the l , j demand at prices considerably undei cane, sugar quotations. Also, the new 1921-'22 beet sugar campaign is alreadj under way in California and is expect ed to be in full swing- in other states by October 1, it is asserted. "In estimating the future strength of the marke-,'' say* She Federa! Review, "only sales of refined sugar for con? sumption should be taken into consid? eration. Prices have advanced on sales i?r' raws to operators and refiners. which sales do rot affect existing sup? plies, but simply reflect individual opinion. j "More than two million tons of sugar, or half a year's supply for this coun? try, will be carried over into next year's stocks here and in Cuba, accord? ing to indications from the latest au i thoritative estimate. The nne showing of this yer.r's Cuban crop, the promise of a !;.rjie' domestic beet crop and the improved Louisiana cane crop all ne ? cossitate a revision of the estimate of ', last May, which then predicted a carry-over of 1..'?8?!.247 tons. The new estimate is 2.1 _5,7?8 tons, and this, to? gether with the 1921-*22 Cuban, Porto ' Picar, and other cane crops, will make the problems of the sugar industry in (R122 unprecedented." Miscellaneous Markets Public Utility Securities Bid Asked A P & L. 9 II do pf... 70 75 94 81 106 Am L Tr. 91 do pf... 78 A O A El. 104 do pf. . . 28 A P A L... 55 do pf. . . 60 A P Utl.. . C do pf. . . 16 Am WWk 3 do 1st pf 46 do pr pf. 7 CarPRAL. "6 Cent St El 4 do pr. . . 40 Cities Svc.118 do pf... 45 do B sh 13% 7% d SB 9.1 7% d s C 75 7% d s IT) 715 do pf B 4 Co! Pw.. do pf... Bid C P R A L. 10 do pf. . . 29 KIT* & 3 pf 77) E D Bl pf 60 EG S-FCn 8 7 do6<& C n 77 kr7- pf... 73 t% cn nt 89 Feel L & T 6 do pf... 40 No St Pwr 36 79 12 :;i 8 2*4 70 93 SO so 9 4 8 13 90 9 s 8 32 1 6% 70 A O A E 6s 76 % A P & L 6s 70 Appln P 6s 69 Col P 5s. . 7 2 El Paso 5s 77 do pf. Rp RAL do pf... So Cal Ed. do pf... St G & El do pf . . . T R L A P do pf.. 4 Un L A R 20 do iFt pf 59 5 IWest Pwr. 26 7% du nw pf 7 0 75 i Bonds 78%;M St P 6e. 86% 72 U L A R 68 70 72 lutahSec 6s 86% Wis Ed 6a. 80 23 61 27 U 88% 87% 82% New York Bank Stocks America .... 1 67 Atlantic _210 Am Exch....230 Battery . . . .143 Bowerv.425 Bway Cent. Bryant Pk. Bronx Nat.. Butch A D. Cent Merci. 175 220 210 165 .150 ,120 190 155 450 150 176 160 140 200 30 Oarfield .... .215" 190 235 775 345 Chat A Phe..245 Chelsea Ex,. 75 Chemical ...435 City.7109 Coal A Iron..220 Columbia ...155 Colonial . ...350 Commerce ..212 Cmwlth ...215 Contntl .120 Corn Bxch.. . 306 Comptn . ... 80 East River.. 170 First Nati. . .845 Filfh Ave. Fifth Nati Oothatn Greenwich Hanover . Harriman imp A Tril. . 4"0 Industrial .. .155 Irving X it. . : 7r, Mnhttn Co. .187 M eh A Mot.. 283 Metropltn ...320 55|Mutual.51*) 1O0 4*0 ?'112 2 7 0 1 S 5 900 150 Nati Am_150 New Xthr.. .140 N Y County.185 N Y N B A. .400 Pacific.300 Park.350 Public.230 S-aboard ...235 Second . . State .... 23<1 Wil_ I7ntd States.160 Cnlon Ex .. .IOS Wshe Ht?...235 Yolkville ...425 2 2 5 ;m 277, III 510 165 ISO - 193 290 840 630 150 3r,o 240 245 .47.0 .215 .200 ?Ex dividend. ^^^^^^^^^^^^ Trust and Surety Companies Alliance _ 70 tAmerican .. ? Am Surety... 62 Bankers ... . 295 Bond A Mtg.195 Bklyn T Co..425 Cent Union...325 Columbia . . .275 Commercial.. ??? Empire T...300 Equitable T.255 Finns L A T.345 Fidelity . . . .200 Fulton.235 Guaranty . . . 2:?5 Hudson . ... 1 60 Kings.660 Lawyers T...106 Law Mtg ...115 Lincoln Tr...l65 ?.Manuretrs ..200 ? ?Mercantile , .290 310 67 Metrpltn . . .2.15 245 300 Mtg Bond. . . 75 85 205 Mut T W.. . .105 123 450 Nat Surety..170 180 320 M Y L & T. .S?0 566 235 y Y Trust. . .300 310 135 tN Y Title...112 116 ? Peoples . . . .270 280 262.Realtv Asso.. 90 100 355 Tille Guar...?95 305 216Vntd Slates..835 ? 250 TJ s M AT. .260 270 240 (J S T G. 75 80 ? Wstchstr ....110 ? ? W & B A M.150 160 114 (/See N Y Title. 120| 1 Includes AT stTk. 1651 Tobacco Stocks G W Hel.150 do pf. . . 89 J S Young 80 do pf.. 89 McA A F. 85 160 93 90 ?P R T T. . ?ft Unlv LeafKO Weym B..17.5 I do pf.. . 90 165 92 Standard Oil Companies Bid. Aske.1.1 Rid. Asked. Anglo-Am 1?% 15 % (P O A G. . 420 All Rfng-.OOO do pf...105 Borne-Scr.340 Buck P L. 8 0 Ches Mfg.160 do pf... 95 Contl Oil..106 Crea P L.. 26 Cum P L..1I5 Kure PL. 75 <j S O pf n .S 7 do pf old 90 950 108 S60 82 180 98 110 28 1?0 79 Tl! P L. . . 150 Ind P L.. 75 Int P CoLt 11 Xatl Trrm. 22% N Y Tran.140 Nrth P L. 8 7 Ohio Oil. .27,0 Penn.M f. 19 Prai P L..1 Solar Rff?.335 So Pipe L. 7S So Pa Oil. 180 Sw P P L 57 ?S O Cal. 7:t "S O Ind. s " Kan.540 B O Ky. S *' Neb.. .175 ?S t) X J. 135 do pf.. S ' X Y S O ? ihi... 3 7 0 79 rlo pf. ..107 11 % Swan A F 30 38% L'n Tl-.Car 90 145 do ?,f . . . 90 90 Vacuu OU.260 260 Wshg Oil . 23 22 ?J';tr $25. 190 350 ' 8,0 186 r.o 154 0% . ! 0 7 .314 7 n", 5 6 'i I 186 JS ' 318 : 80 110 35 95 Miscellaneous Oil Companies >^_ do pf... 5 0 Br Am O. 24 i Cos & Co. 5 I Elk B;m P 6% I Imp Oil.. . 83 , Macn Pet.126 ! Merr Oil.. 7% 60 Bi.J. A?kFx?. Rf .140 145 Mtn Prod, s 26 Nrthw O. .20 6 Prd A RCp 3% 6% t'S Ck Pr 10% 85 Sapul Rf? 3% SO&t,.. .25 8 -Par $10. Steel and Ordnance Stocks Am Brass 145 Alias Pw.112 ?Bab A U1U4 Carb Steal 17, do 1st pf 60 do 2,1 . Colt A. . . . 28 Du Pont...10?. ?do pf. . 67% East S: ? ?Ex divid? :, 1 105 20 6 7. 30 7 70 33 Em S A 1 do ; - ? Here Pw.1 ' . pf... Xlies B P. o . pf. . . M l'? . 2 "ron Wini'or nw . .v.. . . 8% ,30 Miscellaneous Stocks Bid Aaked i ?Am L'd.. 12% ? ? ?, l> L A W. ' do pf.. . r C..1 : A M & F Am Td pi Am T> p ;-' a n T x j Atlas P c. B S A Soi !". S- . Ru*h C< . da .191 Chi Co... . 87 do pf . 95 , "City lnvt 55 Crk W pf. 85 ! 0 L pf ?Nati i /? u O ? ;Phe ? ' . Bkg P. ? . pf . . . 77- f.*S C H I. Slngei BtLRMftP S?l .17 pf I: & T..? B8 : 69 ?f.tt 63 ; : ? Chemical Stocks Am Cyn... 16 do pf. . . 35 Casein Co. 84 Dot? i.'h.. . ? llu Pont.. 8 i ?Ex dividend. [?Me: tMuild Co.. 4S 69 Insurance Companies Am All City of N Y 180 Cmmnwlth .. 00 Fid x- Phoe.. 4 7-, Franklin ... TO Globt & R..1200 ni??. A?i??.'! | Amer .. 370!Hanover . . . 85 325 Home .-140 ?86 Nati LIberty.370 80|Nlagars ....120 ??Stuyveaant... 60 235 350 1?? 130 75 Sugar Stocks far Sup... is ? '? ?-? .1 Sug-.. . ; do pf. . . ? C Agulrre. 57 Fjrdo new 53 Grt Y\ ? do pf. . . 98 Mat-Am .. HI 3-, 60 56 140 303 JO I'Mt-Am pf 25 ?'chir .... National. 304 NI Nique.150 Savannah. 10 j do pf. ?Ex dividend. 307 200 New York City Bonds Form, Rate, Maturity. Bid. A?k. Tleld. Inter ?io ?3 o do do do do 44s, 4 4s, 1963., 44s, 1957., . . 1964 . , 1962. v , do 4<ia, I960. 854 do, 43? s. 1900. op. 1930 do 4s. 1959. do 4s, 1658. do 4s, 1967. Reff 4s. 1955-1956. do 4s. 1936. Inter 3 V 1954. Coup 34s, 1954. Reg ?-'. his. 1960-1964 Inc. . do 34s. 1940-19! ? do 3 '?8. 3 921-16 ; Rpg and Coup ! b? rial ) 44s, 1921-1932 rni . ... tr.00 5.30 - du 414s, 1921-1931 Inc.. 6.00 6.80 - New York State Bonds Issued In coupon and registered form, not Interchangeable. Coupon bond? regis terable. Form, Rate. Maturlay. Bid. Canal and Highway 5s, 1922-'30. 5.00 do ? 931-1940 . 5.00 du 1944-1900 . G.00 Bid. Aale ?np .p:,?, 1904 . . . OS OS UlRhwav Imp 4%S, 3 963.. 15 Canal Imp < ;? a, 19?1 ;>. ... 89 Hiehway Imp U.s 19*",.. 89 Bar???, run Ter 414?, 1945. 89 Highway Imp 4s. 1 ??<!7 .. .. 85 Canal Ii ip 4s, 1967. 85 High Imp 4s. 1960-62, inc 85 do 1968. 8h Can Imp 4s, 1960-62, inc. 85 Palisades I S 1'U 4s, 1961 8j Barge Can T< r 4s, 1942-46 80 Federal and Joint Stock Land Bank Bonds Bid. Ask. Federal Farm Loan 56, 3943. op. 3931.100 4 1014 ! ral Kami Loan 6 a, 1938, op. 1923. 99 4 100 Federal Farm Loan 44s, ? op. 1924. 92'? ]-'?;??' h\ Farm Loan 4 "?4s, 19 H ,';.. 1923. 92'* Federal Farm Loan 4';s, 1937 op, 1922. 9214 Joint Sim. -.; Land Hank i 5s, 1939 ?p. 1924. 90', , Joint - -, !.. >)?1 Bank 5s, : 9 18, ?.p. 1983, ... .. 904 United Slates Treasury Notes and Cer tificates of Indebtedness ?314 93% 93 Vi 92 4 92 4 Ask. 4.70 Yield. 4SI 4.61 4 58 4.68 4.'? 4.66 4.66 4.47 4.6? 4.(7 4.(7 Tleld. 4.S3 6.00 6.08 6.09 5.11 5.65 6.S7 M..- th 'Sepi ?Sept? t .!:? ir. 1921 I 1922 October . ?Dec? !'.-)?' ii I "March . I *M irch . . . . 1922 ?June . ' August . 1922 . ?924 Bid. loo,', ion* 3 oo A 100 4 Ask. 100.?, inn,?, lOOAj 100-", I00? 1004 Yield. 4.50 4.40 4.50 4.50 4.52 4.88 [,.02 6.02 r,3 3 5.2? 5.45 ?Acceptable In payment of Federal tase? i Short Term Securities Sefcur ?-. Rat? Due. 7"!<1. "i 7.35 Amer Col I. 9014 91 '? 9.40 , 6 90 4 i 974 7.1f> 'Os 18S8. . . . '?? \ ' :-'i 6.45 ?4 6.05 do Vv 1923. 88 S.02 do 7s. 1929. ?3*4? 9!\ 8.10 Oil Ltd 7 10014 7.35 .-??::'. ! of Can 7s 19 ??? ?<. 8.00 Bethli hi .... do If, 1923 , 7.15 Can Fa? . i ?84 6.75 Cen Argentine Ry 6s ; ?_ ? :hi R 3 Consol ?lar, x V Sa, . s 6.26 . 4 7.10 do Ss 1924.101 10114 7.4? .1 0 ! ; Cudahy Packing 7s 1923.. 99 ?I . Fed BU( 1984 7 :???) B ]?" Q.'roa eon 7s, '85 9014 81V4 ?.90 Gulf Oil . , .; \ alley 6s ?44 8.50 , 8.4? 10 - . t 8 60 k 1004 r. 95 I 3 00', 6.0? .10014 1?! ?.SS ? ? - K I R??} ?olds Tob ?j 1004 6.00 loo ?i 6 95 i 7.77 , ?8 8 10 ? :?: S lo 80 - S "i 50 174 <..9? . 6 00 ? 7. T? ?'% 7.08 ? 3 9S2. . ?t 4 ?2 -? in 7s. 3S26. .lot 4 3y0 4 ?.78 long Term Securities IC! ?* 11 .101 , - I .102 . 7s. 11.102 ? '??nu I i? 193?.. :<94 Stand ,. :.. ?on? 105 .1014 1014 l' S l: l. 1 BO.io: | ! Mfg 7s '31.10114 193 4 V_>n.t:_i <JcLjl?x;r 1. at 100 4. to:t^ 9914 7.45 (3D 7 25 8.0? ?. 00 M* ? 46 6 40 6 80 7 20 ? :o I'Jil.