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STOCK VALUES DROP LOWER i v- * Loquidation Continues Heavy, But Some Sup port Is Noticeable. STEEL IS BELOW PAR ? * Money at 20 Per Cent and Foreign Exchange Higher. N?w York. Feb. Stocks wm ?gain sold at the expense of price to-day. but the heaviness was not so pronounced as on the two previous Occasions. Some new low records were made and some stocks changed hands at the bottom prices for ihls movement, but the net losses for the day wera not as great as on Tuesday and Wednesday. Here and there net gaina for the session could be f >und. But the general list was down as a result of the day's business. At the opening price changes shotared irregular, but In the first half hour of trading the general market strengthened and substantial recov eries were witnessed. Before noon, however, the ifiarket became easier, notwithstanding a sharp rise in ster ling exchange, which earied the quota tion to slightly more than eleven cents above the low point yesteruay. Signs of reallency were again in evi dence after the noon hour, but heavy offerings of Steel appeared in the afternoon. For a time it looked as If Steel was being sold by important operators in order to meet covering of short ?om tnitThents in other directions, but as Steel aproached par the balance of the list again became weak, and It was on this downward sweep that new low records and new bottoms for this movement were recorded. Offering* of Steel common did not meet with much opposition until the quotation had gone through par to 99V:- At this level there mas a quick rebound to slightly above par. where it closed. As Steel noared par and then wenfc through to a new low for this move ment. there was a general expectation in commission houses that the entire list would show pronounced weak ness. but there was general disap pointment on this score. Call money did not get as high as tha 25 per cent figure recorded yester day. but funds at 3D per cent were considered too expensive to warrsnt new commitments in securities on an extensive scale. Prominent local writers expressed a belief that government withdrawals would be on a diminished scale In the near future, and that this would be less of a factor In making for tight money. Investigation reveals that lo cal bankers are stating that the money committee has not been revived. The fact is that certain heads of Wall street Institutions are in touch dsliy with each other, and are endeavoring to supply the financial district with as much call money as possible. No attempt Is being made to revive the money committee In order to control mtr? ??u.hc this would lead to de duction.. that there was a money trust umi might draw fire from Washing ton. FOREIGN EXCHANGE. New York. Feb- 5.?Foreign ex changes closed as follows: Sterlinsr. demand 3.30; cables. 3.30*4. Bankers, 60 days. 3.24: 90 davs. 3.22. France checks. 14.72: cables, 14.70. Belgium. checks. 11.52: cables. 11.59. Germany, checks. 1.0.",; cables, 1.06. Austria, i hecks. .35: cables. .3fi. Holland. I checks. 37*4: cables. 37H. Italy, checks. 19.77: cables. 19.75. Swiss rlMeka CM; cables. is. Stock holm kroner, checks. 17.90; cables, i > 1*.f>5. CITIES SERVICE COMPANY R4%KKR* ?HARE* Monthly Distribution No. 12 v Henry L. Doherty tk Company an nounce that the Twelfth Monthly Distribution on Cities Service Bank ers Shares, payable on March 1. 192??. to Bankers Shares of record February 15. 1920. will be 54.75 rents on each Bankers Share. EQUITABLE CO-OPERATIVE BUILDING ASSOCIATION Ovaanls+d 197*. 4#th TEAR COMPLETED. 4sseta. g*^VW37?.?l $1,007,127JH) Adopt the Systematic Savinf flan of the Equitable Put the plan into operation by Joining the Equitable now. Being systematic enables you to accomplish more than when you try to accumulate a surplus In a haphazard manner. Mabaerfpttoaa f#p tk? 78th Issue of Stock Belag Received Shares, $2.50 Per Month. 4 Per Cent Interest EQUITABLE BUILDING S15 F ST. N. W. IOHIV JOT ED40IT, rmllf.t r. HKKSIDB. SH7. f ENGLAND MUST CASH EXPORTS Shipmg Goods on Credit Detriment to Sterling Exchange. When sterling exchange to $4 per pound laat year it waa commonly explained as being du to an unfavorable balance or, trade. Recently It ha. droned ^ $3.1S per pound, and an intF?e?tea | public la beginning to ask. wnai I are the real influences back of the present exchange situation. The decline to $4 last not due to any new but represented something in" would have happened during th war If the United States Treasury had not provided ; to "peg" sterling at $4.75 until after the armistice ws? ; The decline was merely the Pf*' Doned expression of what have happened in 1918 if the Treas ury had not been lending money ! to England. I The rate of foreign exchange does not depend entirely upon the bal ance of trade. It depends largely upon whether the buying and sell ing are done for cash or on credit. ( Every merchant knows that if he buys for cash and sells on credit his bank balance will soon disap pear. and it will be necessary for i him to issue I. O. U.s to pay his i bills. That is what England Is do ing now. She has been attempting ' to pay ca*h for supplies bought ! from the United States while selling manufactured goods on credit and | very heavily to poverty-stricken countries. .... ? I The recent drop to $3.1* was not due entirely to credit inflation in England, however, for exchange de pends upon foreign as well as ao imestlc conditions. If money eases in the United States foreign cur ; rencies improve. If money hardens In New fork foreign exchange bills are depressed: it becomes more dif ficult to flnd buyers for paper pay able abroad. During the past week there has been no change in condi 1 tions in England, but money has been tight in New York: it has been difficult to flnd buyers for sterling exchange. and the price has fallen in consequence. Should England sell more goods to the United States for rash and less to the poverty-stricken coun tries of Europe on credit, sterling exchange will soon recover. If the i British government will collect enough taxes to pay all of its ex penses instead of resorting to credit to pay a part of them, that will also strengthen British cur rency. Should money conditions become more easy in New York, this also will help, because K- "land can then arrange to obtair >re funds 'in America. Also, rh" Germany begin to pay her vnr indemnity j to Belgium. France and Italy, this | will improve sterling exchange, be I cause these countries, owing money | to England, can then remit Interest payments to London. The foreign exchanges are mere ly the prices of foreign currencies, and anything which tends to (V I crease their supply wll tenH to ltn ? prove the exchanges. The balance of trade Is an element in the (analysis only as it affects the deb ! its and credits of a given country. I . M1DVALE STEEL. ! Net profits of $3,282,595 for th* [ three months ending December 31 | after deductions for charges and Federal taxes, are reported by the Midvale Steel and Ordnance Com pany. This Is a decrease of $1,741. 402 frrm the corresponding period 1 in 191*. and a drop of $7,599,442 from the 1917 figure. The 191? total is equivalent to $1 St a share ($50 par valu? ). The income account for last year, j as compiled from the company's .juarterly reports, shows net profits, i with similar deductions for charges land taxes, of $10,387.41*. represent ing $5.19 a share earned on the stcck. There waa a falling oft of *18.775.990 from the 1918 total. wh?n *14.5$ was paid on each "fchare. As compared with the net Income for 1917. last year's profits show a de crease of $28,848,085. The above statement, it Is ex plained. is subject to revision to meet anv changes in interpretation of Federal lax laws, regulations and ruling*. Before buying securities it might be well to investigate the solidity of the security as well as the house advising its purchase. Hundreds of mil lions of dollars are taken from an unsuspecting public each year by scheming individuals. SAFEGIAIDING SAFEST INVESTMENT It la a generally recognlaed fact that first mortgages are the ?afest investment in tha world. We would like to send you our new booklet telling of the many safeguards we have placed around OUR first mortgage six per cant notes, which we believe make ?ecurlty doubly secure and which constitute the chief reasons for SSr record of fifty yeara without loss to an Investor Swartzell, ftheem & Hensey Co. TZ7 ISt* Street ?.W. W. B. HIBBS & CO. Members of All Principal Exchanges Private Wires to All Markets Liberty Bonds Foreign Bonds Foreign Exchange Hibbt Building 725 15th St. ?= NATIONAL MARKETS ? BOND MARKET. LIBERTY BONDS. Libert/ boad prices on the K4W York Stock Exchange weft: ... (Qaotatioaa baaed 06 $100 denominational Yeateaday'a Prerioua Net Im**. close. Tiose. change. 1 Liberty BVfta... 96.J6 96.60 + .16 Mril ^a....... 90.94 90.98 -.04, 89.00 80.74 ?.14 44a 01.SO 91.40 ?.10 iteiond 4*a.... *0.80 80.00* ?.10 j Third 4*e 00.00 92.86 +.04 Fourth 44a... 80.M *0.96 .... \ Victory 4%?... 07.84 97.84 .... I Victory ?%e... 07.80 97.74 +.00 t FORKIGX BOIfDS. French Internal 4m 61 French Internal 5s 02 British Victory 4a 2*2 British National War Loan 5a 830 Brltiah War Loan 5a i 00*, Belgian Restoration 5s 89 Greater Berlin 4a. 12 City of Berlin 12 Dresden 4a, 12 Neurembnrg 4a 12 Frankfort 4s 15 I^elpalg 5s '. 16 Munich 5a 19 Hamburg 44? 13 FRDRRAL FARM LOAN BONDS. 44a Not. 1988 op 1925. 984 904 44a Not. 1980 op 1094 984 99H 44a May 1937 op 1828 98 4 00% |5s May 1938 op 1028 1004 101 4 EQUIPMEN7 BONDS The following are quoted on a percentage ! basis: Name. Rate. md. Ask. I Baltimore A Ohio 44 6.37 6.001 Buff., ltoeh. A P 4 405 6 8.00 5.70 tan. Northern 44Q5-6 6.75 6.501 | Canadian Parlflc 44 6 50 6.00 j ? 'be*. A Ohio.. 44 6.50 6.00" Chicago A N. W 44 9.03 5.50 t\. R. I. A P 44?5 8.62 0.00 j C.. St. L. A N. O ft 6.25 5.75 Chickasaw R. fln 8 7.50 0.50 C. C.. C. A 8t. L ft ?6 6.25 5.50 Del. A Hudson 44 6.10 5.75 Erie Railroad 4 44*5 7.?M> 0.25 Illinois Central 4465 6.00 5.65 Louis. A Nash 5 5.95 5.50 Mich. Central 5 Q6 6.25 5.90 Mian. A St. L 5 ft6 6.87 6.3? I Mo. K. A T ft 7.00 6.00 ' Missouri Pirlflc 5 7.00 0.00 j Mobile A Ohio 44ft 3 6.."?0 6.00 I N. V. C. Lines 44ft5 6.25 ?.?*?' N^ Y. C. R. R 44 8.33 O.OO | Norf. A West 44 5.90 0.50 N. Y.. N. H. A H 44*|3-6 6.?0 6.25 Pa. Ilea, Freight 4 ft4 4 5.87 5.50 Rending Co j 44 5.95 5.50 | , Senb. Air Line 44Q5-6 6.87 6.23 ' j Star l*;ir Refin 6 0.90 6.23 f | Southern Pac 44 0.20 5.73 j j So. Railway 44Q5 6.51* 6.00 j ll'nlon Tank 5 6.00 5.00 SHORT TERM NOTES. I Security Rate Date Rid Ask Yld , Argen Got. . .6 Ma 15. '20 994 99'i 7.30 I Do of Car. ..ft Au *21 08 084 6.20 j Do of Can...5 Au *20 95 954 .... i I It us Got rub.54 Fe 14. '26 29 33 Ran Got rub.54 De 1. *21 29 33 j Swedish Got.6 Je 15. '39 93 044 6.23 Swiss Govt. .5 Au L *20 8?4 894 6.30 .t\ar F Cor..5 Ap '20 90% 1004 4.63 Conpaay Iaauea. Ana Cot Oil..6 Be 2. '24 97S 0*4 6.50, Am TAT...6 Oc '22 95% 96 4 7.70 1 Am TAT...6 Fe '24 034 96 7.13 | Am Thread .8 De 19. '28 100 101 5.80 1 Am Tobacco 7 No *20 100% 1014 5.60 An Tobacco. 7 No *21 IOI 101% 6.05 Am Tobacro.7 No '22 1014 1024 0.13' An. Tobar,-o.7 No '20 102 1024 6.25, Armour A Co.6 Je 20-24 Beth St Cor.7 Jy 15. '22 100% 101% 6.40 Beth St Cor. 7* Jt 15. '23 1004 101 IrtO j Can North . 8 Fe '22 95 9* 7.10 1 Can North...6 Au '24 95 98 6.301 Can Pac R. 6 Mr 2. *24 9*4 974 *.*> I C Arcen R. 6 Fe *27 *2 *3 S.To ?-hl C A Q 3 Jy 10. '24 93% JM4 H.IO Cudahy P Co.7 Jy 15. *23 H?>4 101U 6 00 Cnh-Ain Sng.6 Ja '21 90*4 1004 5.30 | Del A Mud.. 5 An 2. "JO I6?% 99% ft.901 Fed Pug R 6 No *21 97% 0? 6.43! Gen Elec 6 Jt '30 f*?4?1004 5.73 i ll'H-king Val 6 Mr *24 90 91 7.751 I Intht R T...7 Se It 05 6* j Laclede O C.7 Ja *20 96 9S 7.*? Lig A Mjrs. 6 l>e *21 99 99% 6 30; N Y Ceat. 8 Se ?'J? 994 09% 6..v?, IPHla Co 44 p* '-j 04 96 8.20' l ean Co 44J*15. *21 97% 97% 0.11 j Proc A Gam.7 Mr "JO 99% 100% 4.15 J Ptoe A (Jam.7 Mr *21 1004 W14 5.6? Proe A Gam.7 Mr "JO 99% 100% ....! Proc A Gam.7 Mr *23 1024 1"0* 5.S0 j Pub 8 Corp. .7 Mr "J2 87 00 12 ?0 R J R Vnb .0 An 22 99% WS 6.13 I Southern Ry. Ma '22 *3\ 94 4 0.?? I Sw iff A Co. 8 A? 15. *21 99 ?H?% 6.15 , I tah S COf . 6 He 15. '22 *64 8* H '-O | i 1 1 * I * Rid. A?ked. 1 Am. Light A Traction 1*7 192 J do. ** 01 Adirondack Elec. Power 14 17 | do. of ' 7* *2 Am. Gas A Electric 125 129 do. pf 00 ? I Am. *Power A Light *91 70 ! do. pf . 71 71 ] Am. Pnblic Utilities 7 12 ! do. pf 22 27 Am. Waterworks El*??*tric 2 Am. W. W A E. paatlc. pf... 4 8 do. 1st pf no * ! Carolina Power A Light ^2 36 < Cities Serrlce 995 do. \pt 704 72 , Cities Serrl?-e bankers ctfs 42 41 Cities Ser. 7 p c Ber C. 1966 . 137 160 Colorado Power 17 20 Colorado Power pf 00 95 Com. Pr. Ry. A L 1* 21 PUBLIC UTILITIES do. pf. . 40 41 Den. Gas A Elec. gen. 5* 87 93 Electric Bond A Share pf.... 90 94 Empire District Electric pf.... 70 7."? Federal Light A Tractioa 6 9 do. pf 43 47 Gas A Electric Securities.. .. 379 470 Gas A Electric Securities pf... M) 85 Northern Ohio Electri" . 20 Northern Ohio Electric pf 50 55 Northern Ontario Lt. A Power. 11 14 Northern Ontario Lt. A P. pf.. 55 ?2 Northern States Power 60 64 87 91 d<>. pf... ? Pacllir <!?* * Electric pf ** Republic Bj. ft Urbt Co 15 IT in. pf 44 4S Southern C.l. K'li.on *7 #0 do. pf 100 104 Standard Gaa A Electric 25 27 do. pf 40 42 Tenn. Ry. Light A Power 14 3 Tenn^ Ry. Light A Power pf.. * 10 United Light A Rys. 28 32 do. lat pf 00 63 Western Power 21 23 do. lat pf 71 73 BONDS Appalaih Power 1st 5s 674 704 Cincinnati Gas A Elec. 5?. *50.. 85 92 Col. Gas A Elec. 5s. '37 79 Kl Col. Power, '53 78 82 Dallas Elei*. 5s. *22 90% Ea?t Texas Elec. 5s, *42 75 82 do. 7s. *21 90 100 El Paso Eler. col. 5s *5 ?.m Great West Power 9a. '46 82 84 COTTON MARKET. York, |>b. B.?Although sentiment in cotton continued very much unaettled today because of j the bad economic situation there! wan an Improved demand for the j staple and the market became j firmer after it ha<J suffered further? severe losses early In the session. | The undertone wa.?* helped by a steadier ruling in fqrelgn exchange, j and it was evident that speculative' lines of the staple had been thoroughly liquidated. New York Cotton Exchange prices on cot ton were: (Cents Per Pound) Y ester- Pre- Xet day'a Tioua change I elose close (point*) March 31.75 31.55 4.391 May 32 *5 32.30 4-.OA ' July 00.43 30.40 4-.05 ' October 28.44 2* 20 4-.IS December .... 27.55 27.JO +.25| MONEY. New York. Feb. 5.?Money on call opened at IT per eent, high 20 per cent, low IT. close 20. Time money, little chanced, borrower, bidding fiS to 9 per cent for loana on all industrial collateral and TH to S per cent for mixed loan*. Mercantile paper rate, we're firm er. being quoted at I Vt per cent Adams Express.. 29% Adf Rtttnler.... rr% Adr Rum ley pf. 70 AJax Rubber.... 72 Alaska Gold,,... . 1% Alaska Juno 2 Allls Chalmers.. 48% Am Agr Cheiji ... 88% Am Beet Sugar. 85 . Am Bosch 116 A me rl can Caft... 49 Atn Cat * Fdv . 132 % Ami Cot tea OIL 46 Am Drugg i*ts. . . 12% Am fixpress 95% Am Hide A Lea. 28 Am Hide * L pf. 100 American Ire 42 Am International 102% Am La Rfance.. 14 Am Linseed 81 Am Linked pf.. MH AV Ijocomotire. 90 Am llslt 88% Am Ship k Com. 10 Am Smelting 03 Am Sol Bet- A...* 31 Am Hteel My... 41% Am St#el Fdy pf 02 Am Sugar 123% Am Sumatra.... 84 Am Tel ft Teleg. 88*4 Am TOfeaeco 237 Am Tobacco Sec. 03 Aiu Woolen 134 Am Writ Pa pf. 49% Am Stnr 4 I^nd 1Q% Anaconda Copper 58% Ann Arbor 13 Ann Arbor pf... 23 Ani?etK Roalzn... 4 Asao Dry Goods. 48% Atrh To ft H Pe. 81 Atlaattr Coast L H8% Atlantic Gulf .. 155 Auto Hales. 15 Baldwin Loco... 108% Balto ft Ohio 30<4 Rslto ft Ohio pf. 41 Rlrrett Co 1214 Beth Motors 22% Beth Stl Clas* B !W'i Beth Stl pf. . 113% B?*?tli Fisheries. . 12 Bro^klvn Rap Tr 12 Brunswick Ter.. 0"? Burns Bro* 931 a Butte Copper. .. X% Butte ft Super.. 22 Butteries Pub... 22% Caddo Oil 20 California IVkg. 7*% California Pet... 31 Calumet ft Arir.. HI Can.idlan PaciOe. 110% Central leather. *0 Cerro de Paaco.. Certain-Teed . . . 48% Chandler Motor.. 128% Cheaap A Ohio.* 52*-, Chi (ireat XSn . 8 Chi iireat Wn pf 22% Chi Mil ft St P 33 Chi Mil ft StPpf .TO', Chi ft Northwest 31 tj Chi R I ft I'aciOc 25% C R I ft P *% pf 59% CRIAP 7% pf 88% Chile Copper. .. 17 Chlno Copper. .. 34% cinett Pea bod/.. 89% < 'oca Coin 33 Colorado p|iel... 37% Col ft Southern.. 22'* Columbia Gas... 57% Col Graphone.... 40% Coaeol Cifar. 00 Con 4) as of N T. 77% Consol Textile... 27 Continental Cen. M4 Continent Candy. 11 % Coatl Int CM M. is Corn Product?... 79% Crucible Steel. . 309 Cuba Cane Sugar 4:'. Cuba Cnne Sm pf *1 Del ft Hudson... 9J% Oea ft Rio Gr... 7*, hen ft Rio Or pf 11 Home Mines. IIS Durham Hosiery. 59 Elk Horn Coal . 21% Endieott Johnsn.. 125% Krtdleott John pf loi Erie Railroad 12% Erie RR 1*t pf.. 1?% Erie RR 2d pf.. 19% Famous Play-Las 75% Fatnoo? Play pf. S7 Ffnk Knb!ier 3* Freeport Texas . 25% Gaston Wll ft W ry General Cigar. *?? General Kleetrlc. l'W? General Motors.. 2*'? General Mot pf. K1 % (iu<Nlrirli RubfK-r 72'... Goodrich pf 94% Gray ft D?t|?... km Great North pf . 75% Great Nor Ore .. 30% Grrene Cannnea. Golf State- Htl. . Hartman Corpn. 95% Ha?kHI ft Bstkr 55% Hupp Motor Car. 13*, Illinois Central.. f*7 Inspiration Cop.. 52% laterbi>r Meto... 3% Interbor Met pf. Int Agrl Corpn.. Int A art Corp pf Int Harvester. ? ? 1 Int Mer Marine.. Int M<-r Mar pf. 1 Inf Nletel Int Paper' Int Paper (*ta?. Iron Pr??dnet*. ? ? Int Truck l*t j>f 1 Open Jawal T? 1? cit/ Hou. i&u Kail/ Hpr Tlr?.. ljj I.OBNOtt Copp.1 I.rkawanoa ail. T? I'M Tlra A Hob. i|u Uhlfh Valley. 42 * Mrm. 1IM Ixxw. t.m tit... 1T14 Loft (IWfl m* Lorlllard Co 157% Lonaa-Wllea m Tionia ft Vash ion Mackay Cat Iliali. Las. 15% Mackay Ooa pf.. 108 Man** Sugar... 41 Manhattan Eie*. ggu Manhattan Shirt. 13% Maxwell Motor.. 3l?itt?S Petroleum. M? Miaal Coro?r... ?lt ; .Mi.lrtl. Htm.a Oil H>4 I l(l<ltal. RtKl... 10 Ulna. *. BtL. in) (B'i ! x. X?a * T.t Siu ; Missouri Pariflr. 40% ! Mlaaonri Par pf. Ml I Montana Power.. 123% | Mullins Body 34i National Acme.. 9s-?| i Nat Anlltoe ft C. Nat Bisetilt..... 1 Nat Clouk ft Suit Nat Conduit Nat EnamHIng.. National ^>ad... Nat Rys of M 2d Nevada Copper.. N T Air Brake.. t N T Central I N Y Chi ft StL.. ; New York Dork. X Y. K H ft H . N Y. Ont ft West Norfolk ft Wcstn Northern Par. 11'. an i Nora Scotia St I.. 4t?z i Ohio (3ties Gas.. ]??!) Oklahoma Pro... ?lV tM,k> ro.1 , Onl! Ilo Silrer... I' Otla' Elerstor... ,ji Otia Steel loU ' Owens Bottle Ma #3 IMnII 10?H (!???-*?* I^tm... Pan-Am cIum B. i Pennsvlrania ... : Pa Sebd Steel... 13 >4 i Oa?.... 77m4 | Pere Mar?iuette. Phila Company.. nr : Pierre-Arrow ... I?> { Pletee Oil M Pitta CCA StL. ?a, | PltUburg Coal.. Pond Creek Coal. Pitts ft WVa... .\3 '*?^""d Sri Car.. *^r. Pullman (Nir : I'unta Ale?re S .. Rsilway St I Spr. <ii Ray Coi? Cop.... ? Heading Railway 1/ i Remington Typr. :??* I R^p Iron A ?tl.. ! Rep Mntcf Tr. .. ?A,, | Rnjal Itulrh P. I"," St Joaaph I A. ... 2 ?l I, t Ran Tr.. j7 I St L ft Southwn. ?yi/ St LA Swn pf.. Savage Arm* Co. < Saxon Motor.... in S??ahoard Air L.. r... . Seaboard A L pf Ig.1' Khalturk-Arii ... IJ ? Kbeil T ft T mnrislr Olr Corp . . ay Slow* Sheffield.... ..J* 1 Southern Par.... w|^[So,tlem R#t... o|U SoBthem Rwy pf " I Stroml?erg Carb. Studchnker Cpn.. H Stutx Mdtor * i Tenn Copper.... p, Texas Co ... 'Texas ft Pariflr. Third Are Eler.. ??!a T Ttrn<? t'->ntl Oil.. 12 4 i Tran?t?e ft Will. ... : t 'nd? rwood i?il 1 n k ,'?l*r ' f*nlon Oil Clion Pa rifle. ... ! i'nlon Par pf.... Jl~* l td Alloy Steel.. JIjlTnlted Fruit i Ttd Railway Iut SI? I ?',rf >?* p' ?H rtd Retail Store 75 * # ! I* S Oavt Ir Pipe 13 27 t i V S Ca*t Ir T >f t"V MH c K F?*al Pro,|.. 3o?; 7,,? ? IT S Ind Alrobol. 9-\ JJ ? , C S Realty 4r,'t 3S r S Rubber H?7 "?'? I S Rvb 1st pf.. 112% Wa r S Smelt Rrf. . tW% 33 r K Sleel 100% HI 1* s Meel pf 112 '** Ctnh t'opper.... 71% *?1 Vnnndluni t'nrpa. IH% It'? Va Car Ch?m. . . OAS MIS WnNN?h R Ra . ?. 7?i M ;i ha *h pf A 22?? 3"? WoRn-ranro Ex. 51', Il'? Wi^tem Md 10 1* Western Par.... 23^ 7U WrMtern Pae pf. 53?i 131 \> v?tem Palon .. *.%% 31% We?th*e Air Br. 113 *7 Wenthwe El ft M 51V, 21 Wheellnr ALE 10^ 71 While Motor H% 7"? W.|?.on <"oin|?any 05\* 42 W'illys-Orerld .. 20% 7.*? Wo?thington P. . 65 64 113 40 81 S3 181 22 81% 4?% 13 8% 23% 40 64 42 86% 81% H?% 73 9 74 T7% *% n% 1M?% C7% 35% 3^% 25% 1?% 94*4 77 ?l 42'4 3 47% 7% 128 31% 56% 36 an% 7?% 41% 25 36% 29 S5% 17% 53 57% 1"T* 25% 93 114 . ?1% 9? 20 72 771 i lot 4"\ 100 15% 16% 13 23 72% 15% 8% 13 11% 79% 30 70 95% 20% 38 >4 <W% 95 111 10 177 82% 12% 78% 22% r?*% 175 90 29% 119% 67% 46% 1*2 9 15% 123 39% 80% 78% 83 42% 188 23 20 156 56 108 65 64 115 40 81 23 186% 23% ?1% 47 12 8% 24% 40 ?4% 43 87 81 % 118% 75 9 74 77% &% 13 101% _0*% 25% 3H% 27 16% 94% 77 61 44% 180 82% 56% 80 R2% HI % 41% ??".i 30% 30% 37% r<9 17% r.3 58% 13 2'.% 93% 114 H2% 91 20% 78 106 % 4"'? 101% 15% !??% 12 33 72% 15% 6% 13% 11% ao% 36 X 71 96% SI r.3% 70% w% 113 10 1?1% 33% 12% r?*>4 175 90 29% 120 67% 46% 1 *4 ? "" 22'j 77% 19 41 03 9?i% 46% 10*% 113 *7 101% 112 47% 6T.% a 22% 51% 10% 28% 56% V5% 113 51% 11 .57% 67 26% 33 ? 15* 14% 14% 118% 118 ?? S3 74 T8 81% 41% 194 ST% If 158 5A 108 or, 64 110% 40 81 29 177% Sl% 9% 45% 11 7% 23 39% 84 41 88% 80 115% 75 7% 71% 76 5 14% 100% 87% 25% 39% 25% 16% 94% 74% 59% 43% $ ??? 127 81% .55% VI 70% 76% 41% 83% 2*% 85% r^i% 17 58 56 <4 41% 184 39 16 188 33 108 8ft 84 'r ? 178 81% S*i 11 it 89%,l 04% J 41 87 00 115% 75 | 7% I tl% 76 | 13 101% 67% 25% 8*% 26% 18% 84% 74% 59% 44 7% 47% - 3 130 82% 55% 86 *0% ii% ?% 85% 28% 87% r*% 17 53 36% 1* 23 92 118 SO 91% >9% 71 76 ior.% 4*% 101% 15% 17% 12 23 71 18 8% 13% 11% 79% 34% 69% 94% 20% MV< 83 94% 112% 141 176 ?V% 12% 74% 21 21 5.M- 35% 173 /1T3 90 90 23 113 91% 19% 7U% 76 103% 4*% 100 15% 10% 12 23 71 15 6% 13% 11% 79% 34*. 69 >? 94% 20% 53% 69 94% 111 8% 175 80% 12% 73% 11^% 06 45% l?o 9% *5% 45 102Ui 112*. 65% W.? 111% 71 % 45% 0*?? 7% 21% 50% lO 23 54% *4\ 111% 50% 10 55% 65 25% 79 119% 88% 47% 1*2% oI% 74% 17 44 53 % 95% 40 H 182% 113 65% . 101114 111% 71% 45% 83% 3 21% 50% lO'i 23 54 % 34% 111% 80 ?4 10 56 a". 25% 79 UNITED STATES GOVERNMENT DEBT. y Secretary Hoiiaton has-made pubic the following: comparative siate mcntn of the public debt on Aui?"*t 31. 1919, when the debt reached Its peak, and January 31. 1920. on the ba*l* of daily Trea?ury atatemente. showing a decrense. principailv from salvage and taxen, in the floating debt of about $tt>0.000.000 and in the total debt of about $930,000,000 in the past five months. (On the basin of Daily Treasury Statements.) CLASSIFICATION OLD BONDS? LIBKUTY BONDS First Liberty Loan Second Liberty Loan Third Liberty Loan Fourth Liberty Loan August 31. 1919 $883,463,130.00 $1.9R4.796.730 00 566.425.969.00 3.953.714.057.50 6,714.521.081.00 16.219,457.817. GO Total bonds NOTES: Victory Liberty Loan TREASURY CERTIFICATES? Tax Loan Pittman ^ct Special Issues War Savings Certificates (Net cash receipts) Total interest-bearing debt Debt on which interest has ceased Noninterest-bearing debt Total. August 31. 1919 Total, January 01, J920 1.92."?.837.300 00 I'.Ot 2.387,500.00 21!0,2 75,000.00 42,639,050.39 17,102,920,947.50 4,113,402.679.65 4,201.139.050.39 933,647,181.08 26,351,109.S68.62 10.006.500.26 235.586.279.15 .26.596,701.648.01 . 25,668.389,095.56 Net decrease $928,312,552.45 DIVIDENDS. M'KEESPORT GAS STOCKS. \ Stork* of Record. Am. Tobacco Co q. 5% Feb. 14 Am. Tobacco pf. q. l%%..Keb. 14 Arkansas .Val. Ry.. Light and Power Co. pr. q. ?**?? 81 I.nnston Monotype Machines Co. q 1%% p>b. 18 Payable Mar. 1 Apr. 1 Feb. 14 feb. 29 Ex*l)lrl(lrad. YESTERDAY? ? AJax Oil "A" Bninswick-Italke-Collender Co Colorado Fuel and Iron .\ Colorado Fu??l and Iron pf F Ires tone*TI re ft R. 7 per cent pf.... Oeneral Development Co (ioodrlch <B. F.) ?Goodrich (B. V.i Standard San Mtj standard San Mfr. extra Standard San Mfg. pf l-'nion Tank Co U. S. Rubber Stock TODAY? American Radiator pf American Railways pf Illinois Ceatral New York Dock Penn. Coal and Coke Tampa Electric MONDAY? Associated Dry Goods 1st pf Associated Dry Goods 2d pf Continental Paper Baff .. Continental Paper Bag pf... New York Shipbuilding Nitlonal Grocers National Grocers extra National Ororer? pf Twin City Rapid Tcaaait. Western Grocers Wanton Grocers Kv 1%S> %% -.? 1%S ."MIc $l.oo ? ,0 J%4> >1.75 12%% IH% 1%^ 81.75 2%% 'Ac $2.50 1%% 1%% 1%% 1%% fl. oo 2% 9% a% $2 80 STOCKS? Armstrong DeTelopment.. Austin Progressive Hrendcl Peterson No. 3... I Ilnrkburnett Cox-Kearney-Bryan j Cox-Kearney (Sill) |Cox-Kearney (Peterson).. i Hiitcher No. 1 Ktna Mar* i Farmer Steutx........... Fischer Noa. 2, 8. 4 Fulton No. 1 (?ufTey Development lliixhherg No. 3 Home Oil & Gaa Kutize St Carroll No. 1... Kunxe A Curroll No. 2.... Milllgan Kearney Mills No. 1 Patterson (Foahbrendel).. Pinnacle O & G Itusaell Coo Satsuma L A O Snake Hollow ; Soles No. I ? Triangle No. 1 Par. 100.00 .. 100.00 .. 200.00 .. 100.00 .. 200.00 .. 100.00 .. 250.00 .. 50.00 .. 500.00 .. 50.00 .. 225.0t) .. 50.00 /. 50.00 .. 200.00 . . 100.00 .. 100.00 . . 100.00 a. 10Q.00 .. 100.00 . . 100.00 . 100.00 . 100.0O 20.OO . 100.00 . 50.00 . 100.00 A-ked. 200.00 130.00 430.00 850.00 250.00 150.00 400.00 r-io.oo 1000.00 100.00 650.00 150.00 225.00 515.00 JOO.OO 175.00 125.09 400.00 200.00 800.00 195.00 150.00 .35.00 125.00 110.60 150.00 f ? EARNINGS. CENTRAL Or NEW JBKBKV. Itcport to lut.nt.t. {'aqjgrn. Ct>maiU.U.n IMS IWambar croaa ?3.?10.TWI IVflril .(tar tain.. ISK.122 Nat operation ..Kelt Ml' !tm Twal.a month. <ran 44.Nt1.(U ltaLia.T aftar Ulaa. I.nw,m Nat oparat'g Inrorea 1JM.514 ? PACIFIC COA8T I WASI. DMmbar (roaa jaai'lS Dar. tl?.SM Nat .ftar aipniaaa.. 7.235 l*r. ?4.WJ g~- ?a'4i8itT 488 ** Not after axpaaaea.. *>7,787 Dec. >08,803 1919. 88.559.N90 447.758 488,118 44.780.871 8.518.528 0.268.090 LOCAL SECURITIES Wuhlaftea Ittck Ezehaace. V t Wash I art on Gti Be. 11.000 at 19. Capital Taction. 23 At 88. 5 at 88. -13 at f 5 at jm%. Washington Railway aad Electric pfd. 5 at 1 MH, 10 at 84*. lansiln, 10 at M, SO at St, 10 at SS. After rail: v - ( Wsshlaf too Oaa B'e, $1,000 it *. PUBLIC UTILITY BONDS. ^ |I4, __ An. T#l. IM T.lfa. 4a T7S4 Wtt! AM. Tel. IU T-l?. ?*... Mi ? Am. Tel. and TaL ctL tr. Be. Ml S3 Am. Tal. a*4 Tel. (Mr, 0a.. NH WH Che*. and Nlwai Tel. Be.. 90 Capital Traction R. R. Be... OS tttt Georgetowa Gaa let Be M Metropolitan R. R. Be.. 01 .... Potomac Blettrie Light Be... 8SS S5 Potnfeae Biectrfe Mi. Be.... 88*4 91% I Potomac Bteetrie Power ti.. 92 04 Pot. Eier. Power O. M. ??.. N% 88 Weihtnjrton Oaa Go.. 88 80 Wasfc Rwy. aid Elee 4a 57% 68% ! W. fewr. and Ele^. O. M. 0e D C. Paper Mfg. *. .. Ultra Realty 5a (long) 80 * Rlgg? Realty Bo (abort)..... 01 W. M. Cold Storage Be 93 PUBLIC UTILITY STOCKS. American Tel and Telga 98H Capital Traction 881, 99% Washington Gas 48 49 Norfolk and Wash. 8 tram boat 190 IV a ah. Rwy. and Eire. com... 19 25 Wash. Rwy. and Bleetric pf. ."?<'4 &o NATIONAL BANK. American 172 183 Capital 19.1 Columbia 173 .... Commercial 17ft 183 WiUht 171 Farmer* and Mechanic* 240 2U0 Federal 183 ...., Liacola I ICS ..... National Metropolitan 390 ..... Uifr* 45? Second 132 103 Washington 193 210 TW'ST COMPART. American Security and Truat. 230 Continental Trust 108's National Saving* and Trust. 26". j I'kiva Trust 115 120 Washington Loan and Truat.. 240 SAVINGS BANK. Commerce and Ratings-..... 12 Ea*t Washington 14 Liberty 120 Merchants' * 143 ..... Security Nav. and Commer.. 2no ..... Seventh Street 143 Union Ravines 118 ISO U. S. Sarings... 188 2*) FIRE INSURANCE. Arlington 7% Corcoran TO Firemen'a 20 German-American 240 ..... National Uaion 6% TITLE IN8URANCS. Columbia 4% 8% Real Eetate SO MISCELLANEOUS Columbia Grapbophone com.. 3S*? 39?4 Columbia Graphopbone pf M 94 Chapin-Sark* W8? IK ?\ Paper Mfg. Cm. m I>. C. Paper pfd 99 102 Merrhanta' Trana. and Stor. 10", Mergenthiler Linotype 188 137 Old Dutch Market i-oo 4% 0 Old Dutch Market p/d 10'4 12 Lanaton Monotype 82 83 Mecuru* M'mujc ........... 2U0 Swnrlty Stor. and Safe Dep. 140 Wishing ton Market 17'i CURB STOCKS Furnished by W. B. Hibhe A Co. Bid. A?ked Aetna Explosive* 7^ g Allied Packers y. 27 % 29 American Safetv Rasor 11 12 American Writing Paper 11 14 Relrher Divide 18 20 Belcher Exteneion 18 21 Big Ledge : # )? Reoaa Oil Boston aad Montana mi 71 Ronton aad Wyoming 1 3 16 1% Caledonia 30 40 [Calumet afid Jerome.. 3-18 % ! Canada Copper 114 114 I Carbon ftfteet pn Ho far Light and Power 2*4 2^ I Chevrolet Son 500 j Cities Kerrir-e (newt g!? 42 Cities Service told) 3W 410 Cities Kcnrice pfd 71 74 Colonial Tire 3 a Connolidated Copper 414 5 Coaden Co. 7% 7T* Cosden pfd 4>4 4\ Cramps 210 Cresaon Gold ................ 2 2^4 CuHIks Aero 3 15 Davis Daly II 18 Klk Basin RTi W1, Emerson Phone 3 7 j Ertel Oil ?4 i? I Federal OH ft'4 3%, (General Asphalt PS PS Glen Rock Oil 3S 3S I Gnffer-Gillespie SO1, J Hecla 4 4 Vi 1 Houston Oil 8T 92 ! Howe Sound .Vj 4 Indian Parkins 13 17 Intercontinental Kubber 13 IS International Petroleum 57 3* Island Oil 3'* 5% Jerome Verde S S Jumbo Extension *% 4% | Lake Torpedo 2\ S Lima Loco/notive HO 90 Uvingstmi Oil IS IS | Magma Copper 33 40 Msrconi of America.* 4\ 3 Maaon Valley 2?, 3 Merritt Oil 1*\ 19% ! Metropolitan Petroleum 31* 3 Midwest Oil com l'i 2^4 I Midwest Oil pfd 2 3 j Midwest Refining 132 134 ! Motherlode <nrw| 3*4 8 Nevada Ophlr S3 40 New Cornelia 19 21 Nlpisaing Mine* Co 10?? 10\ [North American P. and P.... 3V? 3*% Northweatera Oil S3 40 Phlllipa Pet S2 31 j Ray Hrrrules 1*4 IS Ryan Oil SV SS Salt Creek .' 48S 30 Smpulpa ?"** S'i Slmma Petrol 391- 40 Standard Motors 9 10 Submarine Corporatloa 12S 13S Sweeta Co 3's 8S Swift International 41 48 Tobacro Products Export 22 27 Tooopah Divide 2'4 2\ Tohopah Extrnalon 2S 2*4 Tropical Oil 18 19 United Kaatera 3Te 4 U. H. Light and Heat rom,... S 8la U. S. Light and Heat pfd.... 8S 4?4 j United Motors 30 70 ! United Profit Sharing 2*4 IT. R. SteamRhip 3S United Retail Candy 18 Vlvaudou ^ Waylaad OH 4 4% *?? Co?t J (West End Cons 1\ 2Vi Wright-Martin Aero SS 4% CHICAGO - Cudahy Packing 99 100 Llbby 25 23^ Swift A Co llS'i 120 Armour 102S 103 Gllliland S2\ 84 iGllliland pfd 89 I Invincible 27 White Oil 28S 2? Atlantic Petroleum 2T* 3 OIL STOCKS. Rid. Asked Anglo-Ameriren Oil Co. (new) 22 23 Atlantic ReSaing Co 1390 1410 Borne-Scrymser (!o 490 430 Ruckeye Pipe Line Co 96 9M Chesebrough Mfg. Co 280 250 Continental Oil Co Boo 525 Crescent Pipe Line Go S3 34 Cumberland Pipe Line 120 122 Eureka Pipe Llae 148 132 Galena Signal Oil Co ?com... 78 82 Galena-Signal OH Co. pfd 102 108 Illinois Pipe Line Co 170 175 Indiana Pipe Line Co. 94 99 National Transit Co 30 32 New York Transportation Co. ISO 188 Northern Pipe Lino Co 100 105 Ohio 011 Co 810 320 Prslrte Oil ft Gas Go......... 000 030 Prarle pipe Line Co.... . 2B0 240 Stdar Refining Co S50 870 Southern Pipe Line Co 100 170 South Penn OH Co.., 810 82Q Southwn. Penn Pipe Line Co.. 97 100 Standard OI1 Co. (California) 29.' 803 Standard OH Oo. (Indiana)... 880 700 Standard OH Co. (Kansas).... 800 825 Standard Oil Go. (Kentucky). 890 410 Standard OII Go. (Nebraska).. 490 &10 standard Oil Co. (New Jersey) 7CT. 720 Standard OH Co. (New York). 40* 412 Standard Oil Co. (Ohio) 520 527 Swan B Pinch On....: 100 no Union Tunk Line Co. 106 110 Vaccuum Oil Co 400 418 Washington OU Co 88 * eign Situation Cause Heavy Selling. > ? Chle?#o. Feb i.?Tha continued demoralisation in foreign nchun r.fWeted ..the h *Jr ?'n* rye and the consequent price break of S to I cent* In cub and t% to Ik oonu In the future, hero today. Barley waa off t coat for the futurei and 1 to J cent* [for the caah. j Million, of bushels of rye are now held by Chicago Interest, with th* Principal buyere Conditions are against the axporta i?ik? tJ'". rraln wherever possible broken are selling at Josses. Actual holders of future and cub led today, market, trad 'y.. A"* on a ?cai? with * {decidedly nervous tone. _.,??* f?*11 n**?"ket wM Irregular j with prices for the futures l to 2 cents lower, nearby and the most .deferred months suffering greatest 'Heavy se.Ung waa cau?d by an order Issued by the Railroad Ad ministration practically embargoing ail freight except grain, sugar and perishable articles from Feb ruary 8 to 18 Inclusive. In order that grain may be moved freely. Considerable selling pressure was exerted On the market shorts and j investor* backing away from It un |tll declines of J to J cents were lestabliahed when buying by early sellers caused a partial change In sentiment Heavy buying by Eastern Inter ' 5 ... . c"h >,,u w?? ?he feature of that market. The cash article was I to I cents lower while the future dropped 1 to 1% centa * **T*re driTe was made at the provision. market early. prices dropping sharply but buying by short, on the decline caused a r< fr^ron.nny*'lower.Cl?** PrlC" ; cobk? rsr ^ te- ?? !? 3E zSt ! So.20 S3 90 -ft LARD? 70 "V ....*1.47 21.40 jBlr ?7 2I.J0 ?.?T PRODUCEJWARKETS. j WAflHIJUiTOK I ,r"*fc ? Southern, 8?. SSSi!? whr>x* wiik ^ TTER?PrJau. 71; tab*. 00 roZLTflZ!mrt~ ?" :nsi?o ? ,ck"' 40*?. ?ik?ya. |.42.'^rt!^r,'27rr*w" rb,rt"'- ? u^"T"D ?... ?; V?JBTABLB??IVf.tw.. p., _rk , * Me SO* ^ *ttplanta. I ?)"% oil P" ???: OeUfbmfc W|. ^ M *?' celery. torn ! V?; S; lettuce. 1^5.1 so: I ? 0Qil.no per rntf; ?>prlnr onion*. ** vt ? ?-s?yy?5 e" h?rt?l: tale. T?, KWuii "??e. 3 0U.4 00 rrtMT-TjJ *?** 00 I" crate- bru? "*?? ?? rtortd. ?rapefrolt. l :?, on , ho. /"* EM'SEtST- -*? ?? HA I.TIM ORE, Baltimore V-l ?>(,, 5 _ poT.Tnr. While. Western M.nl.nd .?s n ? ~ p-r ioo 4.ai' r^ *. v>.^riL^*1\ New Jer-, pe, ,wN*7 ".*J Ka.tera Mm, ,Vrrin7. v; " . *? "?< ?". ??e?U. yellow S..rlk r.? 1 l^i E-""-m.": d?. K?. 2. 2.rZi..w l,N T^r Z'. 'Vno. iz?\ F !?'a4 *? ^?ke?. 4.00. 0O. pr?rl. p*?r hsak^t 2..T*ia? ini ,..k 3<"?p., ,0,l0^ bramll. p., b.?kel. UsTS ~i,? f,mmr'on 1" K" bunch. s?lo I P*r T OO,. On. I Florid., per rrste. S.DIit.flA cmnefrtiit Irkirida. per box. 2 Ymn? ?.|. N f /. fl-r hbl. 2O0.2..V): |,??ee. riortdl , ket. 1.0A.l.7r>; atfflw. New York .n<l tv..kt '?r?. per 100 lb, 6,.?,? .VI: do. No. .. per 1110 Ih,. 3.911.4.00: or.ns?? l|..r' ;~vr bo1- "V <" 'I**. S <10.112;, "wM.. per ha.ket. 3 .--?4 ?: ^pp.r,. ^..r ?U. per crate. 2W.JS0; *,u,.h ri..ri.i. ; per crate. 3.no.4 on; .pin.'-h NorfoU . jhhL S.OO.S.OO; toin.toe. f.ncy, per h..k? ^30.4.60. d^ ^etee. per h.rtet 2 SO..VOO I beet, per 100 huncke*. 10 00.11,00; carrot., i p?r haikM. 4.?cal.00: oy?ter piant* n#?r 1 ?mi f htisrlic, 7 00.8 00 turnip., per ?.le, "T..* Bruseel. .prout. per qu.rt, 2j.3n: plr?aip., j 'K'r ..Val.Oft; iirnr cabh^rr tt+t ^'^}lf'I T5cal 00? erssSerrlee. p^r hhi. s nu f.00: plsMppl^. crate. O.OOaT ?0 tan ? e^rise. per atrap. 5.00a7 00 atrawheniea 1 per quart. 41aV> I LIVE POl'LTHV?Chicken,, youns. larae ^IUa-Mt'h ii,'i.^2_ "ln"" '? ???diBm.'lb. 3S !i Whorn?. W do. rooah i.n.1 poor S0.K oHI rooster* lb. 22; do. old hen. ore, ,4 1^. 17; do. .mull. lb. MaM: do. White ? r. beaa. lb, a%.3ti: daf-k.. Mit^uri "? Wh"* P'kln. lib 3.aSK; do. puddle. 1b. 35a*K; do .m.ller poor. lb. 32; reete nearby fnt. *2.33 tur | k'ra. choice y?oa? he?. lb. .?^a?U d... a '*. blera. lb, &S.&3; do. old tooia. |h. 4(i.vi, J,, URGE HIGHER . FREIGHT RATES > ' . J Railway Executives to Recommend Increase Of 30 Per Cent. RETURN INADEQUATE Recommended Increase Will Not Cover Brother hood Demands. The lubconlUM of the Associa tion of Railway Executive* which has been inveatlgntlng the financial condition# of tha roads with the new of determining how much of an advance la freight rates la necesMTF to meet their needs after the return to private ownership. will recommend ah in crease of at leaat 10 par cant, ac cording to re porta la bonking c?r yesterday. This flfurt, it wa? said. would only be (sufficient to pay tha per cent return on tha prop erty investment aa provided by th* Cummtm MIL A 20 per cent rat* advance It wai estimated would add a boot $1. KiA.noo.noo to the standard return fixed by the Railroad Administra tion. Thi aum. It was polatad out. doea not take into account peti tiona from the railroad brothrr hooda for higher wages eg r re gat ing I3AO.OOO.OOA. Advice# received in financial cir cles indicate that the compromise Irailroad bill that will be paa*e<l I by Congress will contain the fol lowing features: A year'? trial of i the per cent guarantee 'clause with a fifty-fifty division of tl?c excess earnings above ? per cent: elimination of the Federal com pulsory incorporation clause; cut ting out of the labor section and the provision for a board of tran* portatlon. The compulsory Incor poration clause, it is understood. will be superseded by h elaunn providing for the voluntary con solidation and Federal incorpor* tion of different railroad aystem The recommendation of a aub commlttee of the steering com mittee of the Association of Us i way Executives that the Guar anty Trust Company be appointed the sole trustee under the plan by which the carriers are to issue $380.000.000 of equipment trust certificates to the Railroad Admin istration has been approved by practically all the sixty-five rail roads involved in this financing arrangement. All that now Te malns to make the plan effective Is the formal approval of Director General Hines and of Swager *h?t - ley. director of finance of the Rail- | road Administration. The members of the Association ] of Railway Executives. who were J appointed to serve on the rate | committee. insist of T. De Witt Cuyler. chairman; Alfred P. Thorn. E. N. Brown. R. 1Calkins. How ard Elliott. S. M Felt on. Carl R. Oray, J. H. Hustts. Julius Krutach nitu E. E. 1-oomis C. H Mark ham.? Samuel Ren. Plrd II Robinson. A. H. Pmith Henry Walters and Dan- i lei tvniard <rooken brea*t?. poor. Ih 43s45: pige n old. pair. 4??; do. yrnini pair 40; ftm>*a fcwl young IS lh* ?'?'?h. 30. avaller. each. Sfta4U: old. each. ? >KI SSKH POi'LTKY-T>rk^? he?? "S ;W; muH and gobbler* .V>a3*. ponr. 4".; I?li<-kea?. young. 3f?a4??. old and niied. 37a 3" -hi ronater?. ITJaJ. du. k* S3a** " 30a43. <apon* 4?a53. BGG9 ? Weatera Mirvlatd. r?tin-<l>aita and nearbr doaen ?"?*a5* Eaaterr SHor Maryland and Virginia ?'?Ha "?k Western (1?ko. .'Ta."?s. Weat \ .rginia dosea. .w?"*i. Southern Ma&3. nrrrr.n ? Cieaaaery ?^rai^. extra*. do print*. ', lh ntra? 1?7; do. prima. 1 lh fur?' ??.*?*?. Mkp ?S?| '?IT*- dairy print* M* l.-nd Virrinia and ?I*aula eitraa ?|K; atore-parked find*. 42. r??lla. MtrjrlaM and rrnn^lTiuii rttni^. ?fta4*; \*>ft \ , ginia eitra*. 44a IS. do. Ohio extra*. flal'>. prnw butter. ?V*S7. ?+ - , ? PHII.tnM.PHIA. The market rulod tinu. with demand a* aching tlte liaiit-d "fferiug* The quotation Mhs HI(B8KED#OWU?IVmand wa? fair an* prl?*ea ruled ??tndjr with ai |?plie?. of ehoie-? ctemod up IV quotation* wer | Kt-wln. fre?h-killed. dry-picked in t?oae? weighing 4 lh- and ewer ap*e?T. 4S? : wetgi - I mc lh? :uia:<T? weighing 3 lh- JUa3? j fowl*. fre%li-kilk-d. in hbl?. dt?-picked vfifhinc 4 It* and over apie?e 2t?V . : weighing 3?- lb* weighing t lh? ' 31a3V?: old ronMer- dry-picked -7< . broil i ra Jfrw? dry -pickmt Sla# . d?- ordinary, nearby dry-picked. Vta.Vn broiler*. wr*( ern. dry-plrked afichinf 11 -a - lh? apir?* 4*aSOr. roa^tmd chirkon*. w?.tern. dry picked, in bhl* ??icl inc 4 tba and o\?r apiece 3*ia3T' weighing 3?, lh? apV<* 34a3.V; u.-ijtWi.k 3 ll>- apiece. 34aXV weigli lnc ih. .ipt.?- ?" Atrkcm. 12 to <??? ?" ">? ""a jvr Ih, 41n?~ IS to 1* "? *" *"?" per lh 43a4<?<-: 25 to jn lbs t? doaen. p-r lb. 4<te?2c; 1 to 3S |b? to doaen prr lh .v**3<V ST t? 42 lh* to dozen, per Ih. 3.~?aftv U to 47 lb- to .|.?m par Ih r^Mc |k and over to doi"n. 3sa4Sc: iapo>?. ?e*tw-i wcirblna ^al?? !h? apiece. .Ma.Vkc: koctk he*, ler ?tock higher, weighing 7 lha npie.-* ."l : weighing S Itw apieee. 51V : wei^hini: "? it? ? a|?ie?e. 48<'. Turkey*, ltelaware an<i Mary , land, fancy. ??? do, \ trgtnta and other iwarhy fancv. r^aMIr: d?? searhr. fair to a<ent -".3? r..H . do. weatern aprtng fan* ? r.NaT.t'c; fair to good .'41a5.V : old tom- iv lhick*. weatern BSiktc; gww ?-e%tera fancy Pla&!<-. do. fair to good. ?Sa27c. .andin Boston cA fact: Boston sorely likes "just enoughT urkuh." At the Touraine, the Copley Plaza, the Par ker House and Young's, out at Harvard and at many other good places, Fatima is the leading seller. FATIMA A Sensible Cigarette