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Evening star. [volume] (Washington, D.C.) 1854-1972, July 19, 1924, Image 10

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1924-07-19/ed-1/seq-10/

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10
RAILROAD SHARES
SCORE NEW HIGHS
Rubbers and Oils Also Very
\[ i\
Active in Today’s Brief
Trading Session.
B' the Associated Press.
5 NEW YORK. July 19.—-A sustained
demand for the railroad shares, twen
ty of which bettered their previous
top prices for the year, was the out
standing feature of today’s brief, but
active. stock market. Industrials
showed more uniform strength, with
exceptionally good buying noted in
the rubbers and Pacific Coast oils.
Buying of the rails, which embraced
both the high-grade and non-dividend
issues, was based on speculative ex
pectation of larger earnings or pos
sible increase in dividends in the
Common stock of some of the large
systems and the completion of some
of the mergers reported to be under
way. Rubbers moved up on rumors
of an early upward revision of tire
Prices. Congoleum, General Electric,
international Harvester and Dupont
sold 2 to nearly 4 points above yes
terday’s final prices. The closing was
strong. Sales approximated 500,000
shares.
INDUSTRIALS TURN STRONG.
11l STUART I*. WEST.
Special Dispatch to The Star.
NEW YORK. July 19.—Today's
brief session on the stock exchange
was the strongest week end market
that Wall street has seen in months.
Prices rose in many instances to new
highs for the year, and in the upward
swing the rails held the lead. But
(he industrials for the most part kept
abreast of the railway group, and a
number of the more active issues
were bid up sharply.
General Electric. American Can and
Baldwin Locomotive were among
them, the first named getting to a
iew top. United States Steel com
fnon, selling around par. was not dis
posed to take part in the movement.
Profit-taking sales, which were only
natural on the last day of the week,
had slight effect, so readily did the
market absorb these offerings.
In the railway section numerous
stocks rose to their highest for the
year. As the recent advance in the
rails has broadened out. it has de
veloped strength in the shares of the
strong anji weak roads alike. A\ ith
New York Central. Atchison, Atlantic
Coast line. Delaware and Hudson
and Southern Pacific, as well as other
high-grade issues, all at their best
prices.
Stewart-Warner Weak.
Stewart-Warner was one of the
few soft spots in the industrial share
list. It was offered down to a new
low for the current movement, an
ticipating unfavorable dividend ac
tion. Around the 50 level the stock
appeared to he discounting a reduc
tion in the dividend at the furth
coming meeting frojn the present $lO
to a $5 or $4 annual rate. When the
stock was selling 10 to 15 points
higher. Wall Street was talking of
an $S dividend.
The high level reached by Allis-
Chalmers common in the recent
trading was primarily a reflection of
the satisfactory earnings which this
company has shown throughout the
recession in general business.
In 1923 Allis earned over $0 a
share on the common. Net' income in
the first six months of 1924 is esti
mated to have equaled $4 a share or at
the annual rate on SS. The growth
of Allis-Chalmers’ business in the
field of public utility electrical equip
ment has been steady.
Industrial Favorites.
The industrial favorites included
the rubber shares, with especial
strength in Ajax and in I • S. Lub
ber. the coppers, particularly Ana
conda and Kennecitt. and the- tobaccos.
Tobacco Products was a feature in
this quarter The public utilities
were steady. There was further sell
ing in American Water Works common
and I'nited Railways Investment pre
ferred Steels and oils merely marlcen
lime under the rather depressing in
fluence of trade news.
Dun’s review states that for the fir. I
time in 20 weeks, wholesale quotations
show an excess of advances, even
though the gains were largely con
fined to food stuffs. course, the
rapid rise in grain has had a harden
ing effect upon sentiment of all
those who have business relations,
direct or indirect, with the western
agricultural community.
Markets at a Glance
New York stocks strong; 20 rail is
sues ht new 1924 highs.
Bonds—Firm: St. Paul liens active.
Foreign exchanges—Higher; sterling
advances over a cent. Cotton —Low-
er, favorable Texas crop news.
Sugar—Holiday. < ’offee —Holiday,
CHICAGO. Wheat Strong; _ de
creased crop estimates. Corn Firm;
unfavorable weather. Cattle —Un-
evenly lower. Hogs—Active and
higher.
POLICY TO BE CONTINUED
ON COTTON COLLATERAL
By the Associated Press.
RICHMOND. Va., July 19—Member
banks in the fifth Federal Reserve
district will continue to accept col
lateral in the form of cotton ware
house receipts from other than United
States licensed warehouses, where
the responsibility of the private
warehouse is assured. Gov. George
J. Seay of the Federal Reserve Bank
of Richmond said yesterday when in
formed of the announcement that the
St. Louis Reserve Bank will discon
tinue the practice. Gov. Seay said
that bis bank had received no in
structions to carry out the policy
adopted by the St. Louis bank.
The fifth Federal Reserve district
includes Virginia. North and South
Carolina and Maryland.
Atlanta Plans Vo Change.
ATLANTA. Ga.. July 19.-—The At
lanta Federal Reserve Bank will con
tinue to accept cotton warehouse re
ceipts that seem safe, Joseph A. Mc-
Cord, chairman of the board of di
rectoss, said here. There seems no
immediate likelihood that directors of
the bank will change the present
practice, he said, asserting that this was
a matter for settlement by the in
dividual hanks.
BOSTON STOCK MARKET.
BOSTON, July 19.—Following is a
list of today’s highest, lowest and
closing prices for the most active
stocks dealt in here:
High. Low. Close.
Am Tel A Tel rts 8!» 8% 3!ff
Arcadian Conn IX* IV,
Arizona Com 10', j 9X4 10
Boston & Albany 154 154 154
Boston A Maine 16*4 10% 1644
Boston Elevated 70X4 7314 73%
Calumet & Arizona 47 40 47
Calumet A Hevla 17 JG 16%
Copper Range 2ti 2414 9R
Dubiller 50'-4 ’ 50 5014
East Butte 4 4 4
East Mass 2114 2414 2414
Edison Electric 183 18214 182'4
Hardy Coal 24'4 2314 2414
Island Creek 119 HR 119
Isle Uoyale 1614 1614 IRI4
Maine Central 32 32 32
Mass Gas 7014 7014 7014
Mayflower OC 2 2 2
Mohawk 30 29 2914
Kew Cornelia 1914 19 19%
Kew Dominion A........ 1% 114 t%
New England T & T 107 107 107
New York N H & H 28'4 27 2814
North Butte.. 414 4X4 414
Old Colony 88 88 88
Pacific Mills 84 8314 84
Quincy 22 22 22
St. Mary’s Land 37 33 37
Swift & Co 102 10114 10114
United Fruit 202 202 202
United Shoe Machinery... 37 3644 3« 7 4
U 8 Smelting 29 28 2814
U S Smelt pfd ; 45 4414 45
Ventura Oil 20% 20% 2014
Warren Bros 34»4 33% 8414
Winone 40 30 30
FINANCIAL.
NEW YORK STOCK EXCHANGE
Received by Private Wire Direct to The Star Office
Open. High. Low. Cloae.
Adams Exp (6).. 88% 88% 88% 88%
Air Reduct (4)... 79V4 79X4 79% 7914
Ajax Rubber BV4 8% 8 8
Allied Chem (41. . 7614 7614 76«4 76H
Allied Chm pf (7). 117% 117% 117% 117%
Allis-Chalm (4).. 55% 67 66% 56%
Allis-CMpf (7). »5 96 95 96
Am Bosch 28% 28% 28% 28%
Am Can (fS) ne% 117% 116% 117%
Am Car & Fy(l2). 172% 172% 171 171%
Am Chain A (2).. 22% 22% 22% 22%
AmDrugSynd.. 4% 4% 4,4
Am Express (4) . 112% 112% 11* 1 12
Am &FP 2594(71 105 105 105 105
Am For P f pd(7) 104 104 104 104
Am Hide & L pf. . 56% 66% 66% 66%
Am Ice (77 92V4 92% 92% 92%
Am Internal!.... 23% • 23% 23% 23%
Am Linseed IS% 19 18% 19
Am Linseed pf.. 39% 89% 39% 39%
Am Looomo (6). 79% 79% 79% 79%
Am Metal (3)... 42% 43% 42% 43%
Am Ship & Com. 13% 14 13% 14
Am Sin *Re (5 ) , 67% 68% 67% 68%
AmS&Rpf (7). 102% 102% 102% 102%
Am Stl Fdys (3). 36% 86T4 86% 86%
Am Sugar 42 42% 42 42%
Am Sugar pf (7). 86V4 86% 86% 86%
AmSumatTob.. -7% 7% 7% 7%
Am T & Tel (9)., 123% 123% 128% 123%
AmTel & Tel rts. 3X4 3X4 BX4 3%
I AmTobac (12).. 143% 143% 142% 143%
/m Water Wks.. 94% 97X4 94% 97%
Am WW pf (6) . 90 90 90 90
Am Woolen (7).. 70 70 70 70
Am Wool pf (7). 100% 100% 100% 100%
Am Zinc 8% 8% 8% *%
Am Zinc pf 27X4 28% 27% 28%
Anaconda 31% 32% 31% 32%
Arm pf Del (7).. 87% 87% 87% 87%
Assets Realizat. % % % %
Asso Drv O (B» .. 94% 9 r >% 94% 95
As DG Ist pf (6). 89 89 89 89
Asso Oil (1 % ) ... 28% 28% 28% 28%
At T & S Fo 16) . . 105% 105% 105V* 105%
AT&S Fpf (5), 91% 91X4 91 91
Atl Birm U. At... 2% 2% 2% 2%
Atl Coast L (t 8). 126 127 126 127
Allan Fruit ofs.. 1% 1% 1% 1%
At Gulf &W 1... 21% 21% 21% 21%
At Gulf &WI pf 25 25 24% 24X4
Allan Ref (4)..- 83% 84% 83% 84
Atlas Tack 7% 7% 7% 7%
Auto Knitter 2%- 2% 2% 2%.
Bald Loco (7)... 115% 116X4 115% 116%
Bal&Ohlo (5)... 60% 60X4 60% 60X4
Barn.sdall A 20% 20% 20 20
Barnsdall B 15% 15% 15 15
B’ch Nut (2.40) .. 51 51 51 51
Beth Steel (5)... 42% 42% 42% 42%
; Beth Stl pf (7) ... 90% 90X4 90X4 90%
Br-k Edison (8).. 114 114 114 114
Br k-Man Tran.. 29% 29% 284* 29%
Br Man Tpf (6). 69% 70% 69% 70%
Brklyn UnG (4) 69% 69% 69% 69%
Butte C & Zinc.. 4% 5% 4X4 5%
Butte&Superlor 16% 17 16% 17
Butterick Co 17% 17% 1744 17%
Caddo CenO&R. 2 2 2 2
Cal Packing (6).. 84 84X4 84 84%
Cal Pet (1%). .. 21% 21% 21% 21%
CaDaban Z T/ead. 3% 3% 3X4 3%
Calu & Ariz (2) .. 46% 47 46 47
calumet & H 50c. 16% 16X4 16% 16%
Can Pacific (10). 148% 148X4 148% 148%
Case JT Plow 1% 1% IX4 IX4
Case Threshing.. 22 22 22 22
Cent Lea Co pf. .. 47% 47% 47% 47%
Chand Mot (6). .. 45% 45% 45% 45%
Chcs* Ohio (4).. 85% 85% 85 85
Chicago & Alton.. 4% 4% 4% 4%
Chic & Alton pf.. 11% 12% 11% 12%
Chic Gt West.... 6% 76% 7
Chic Gt West pf.. 18% 18% 17% 18%
Ch Mil &St Paul. 16% 17 16% 17
Ch Mil &PL r pf. 27% 27X4 27% 27%
Ch'& Nwn (4)... 60% 61% 60% 61%
Chic R1 & Pae... 36% 36% 35% 86%
CRT*Ppf(6).. 79% 79% 78% 78%
CRl&Ppf (7).. 90 90% 90 90%
ChStPMin&O.. 40% 40% 40% 40%
Chile Cop (2%).. 29% 29% 29% 29%
Chino Copper.... 19 19% 19 19%
CCC& St L (3).. 130% 130% 130% 130%
Coca-Cola (7)... 71% 71% 71% 71%
Colo Fue'& Iron. 46 46 45X4 45%
Colo Southern. ... 37 37 37 37
Col So 2d of (4).. 52 62 52 52
Col G&F. (2 Rfti.. 41% 41% 41 41
Col Carbon (4)., 43X4 43X4 43X4 48X4
Congoleum (3). 46 47V* 46 46%
Consol Gas 70% 70% 70% 70%
Consol Textile... 4% 4X4 4% 4X4
Coni Can (4).... 54% 54% 54% 64%
Cent Motors (20c) 6% 6% 6% 644
Corn Product*. .. 84% 84% 84% 34%
CoFdcn Cn 26% 26% 26% 26%
Crucible Stl (4).. 52% 52% 62% 52%
Cub Am Rug (3).. 29% 29% 29% 29%
Cuban Cane Sug. 131.4 13% 13% 13%
Cub Cane Pu pf. • 60 60X* 59% 60%
Curamel Fr (4),. 67 7 4 58X4 57% 58
Dan! Boone M (3) 16% 16% 16% 16%
Davidson Chem.. 60% 60X4 59X4 59X4
De! & Hud (9) ... 119% 120% 119% 120%
Del I.&W (6). .. 126 126 126 126
Det El Co (8) ... 105% 105X4 105X4 105%
Dome Mines (2) .. 16 16 16 16
Dul So Sh & Atl. . 2X4 2% 2% 2%
Dul SS& At pf... 5% 5H 5% 6%
Du Pt da N (8)... 125% 127% 125% 127%
Eaton Ax (1.60).. 12 12% 12 12%
Erie 31% Sl% 31% 31%
Erie Ist pf...... 38% 88% SB'.4 38X4
Erie 2d pf 37% 37% 37% 37%
Famous PI (8)... 80% 80% 80% 80%
F’d M&S pf (7).. 47% 47% 47% 47%
Fifth Av B (64c). 11% 11X4 11% 11X4
Fisk Rubber 7% *7% 7X4 7%
Fleishman (3>... 59 T 4 *954 59X4 59%
Freeport-Tevas.. 9% 9% 9% 944
Gen Asphalt 42% 42X4 42% 42%
Gen Cigar (8)... 91% 91% 91% 91%
General Elec (8).. 244% 247X4 244% 247X4
Gen El spe (60c). 11% 11% 11% 11%
Gen Mot (1.20)... 14% 14% 14X4 14%
Gen Petm (2) 43% 43% 42% 43%
Gold Dust 37% 37X4 37% 37%
Goldywn Piet.. .* 13% 13% 13% 13%
Goodrich 20% 20% 20% 20%
Goodrich pf (7).. 75 75% 75 75%
Goodyear pf 54X4 55 54% 65
G’dyear pr pf (8). 94 94 94 94
Granby Conpol... 16 16% 16% 16%
Gt North pf (6).. 65% 65X4 65% 65%
Gr Nor Ore (3)... 29% 29% 29% 29%
Gr Canan Cop... • 1* 1 3V * 1 21/ * I 2
Gulf Mo & Nor... 20% 20% 20% 20%
Gulf St Stl (6). • • 69% 69%
Hartman Co (4).. 38 88 81 88
Haves Wh’l (3).. 34 34 84 84
Househ’d Pr (3)-- 33% 33% 33% 33%
Hud MotC (3)... 25% 25% 25 25
Hupp Mot C (!)•• 13% 13% 12% 12%
Hydraulic Steel.. % % V 4 %
Illinois Cent (7).. 110% 110% 110% 110%
111 Cent pf (6)... 111X4 111% 111% 111%
Indian Refining.. 6% 6% 6% 6%
Inland Stl (2%).. 33X4 84 33X« 84
Inland Stl pf (7). 103 103 103 103
Inspira.tion Cop.. 24% 24% 24% 24%
Interh Rap Tr... .* 37% 37% 36% 37
Int Bus Ma (8)... 95% 95% 95% 96%
Int Cement (44 •. • 45% 45% 45% 45%
Int Com Eng (2). 26% 26% 26% 26%
Internal Har(s). 92 92 91% 91%
Int Mer Marine.. 10% 10% 10% 10X4
Int Mer Mar pf... 39 39 88% 88%
Internal Nickel.. 17% 18% 17% 18%
Inter Nick pf (6). 87% 87% 87% 87%
Internal Paper... 85X4 55% 64% 56%
Int Pap pf st (6). 74 74% 74 74%
Int T& T (6) 76% 77% 76% 77%
Invincible 01L... 11 11 11 11
Kan City South.. 23% 28% 23% 23%
Kayser Jul & Co.. 24% 24% 24% 24%
KellyiSprTlre... 15 15% 14% 15%
Kelly Springfd pf. 43 43 43 43
Kelly Sprg Ist pf. 45% 46% 43% 46%
Kenne Cop (3)... 41% 41% 41% 41%
Keystone T & R.. 2 2% 2 2%
Kresge Dept Stor. 56% 56% 56 66
Laclede Gas (7).. 97% 97% 97 97
Lee Rub & Tire... 10% 10% 10 10
Leh Val (3%) 49% 49% 49% 49%
Lig& Myrs (3).. 60% 60% 60% 60%
Lig&Mvraß (3>, 60% 60% 60% 60%
Lima Loco (♦)... I 63% 64 63% 64
Loews Inc (2) 16% 16% 16% 16%
Loft. Incorpor.... 6% 6% 6% 6%
Loose-Wiles Bis.. 61% Sl% 61% 61%
Lorrillard (3).... *7% 37% 87% 37%
Louis & N’sh («). 97 98% 97 97
Mack Trucks (6). 91% 91% 91% 91%
Mack T2d (7)... 94 94 94 94
Magma Copper... 29% 29% 29% 29%
Mailinson & C 0... 22% 23% 22% 23%
Man El mod gtd 4. 49% 49% 48% 48%
Maracaibo Oil 28 28 28 28
Marland Oil 30% 30% 30% 30%
Martin Parry (3) 33% 33% 33% 33%
Mathieson Alkali 39 39 89 39
Maxwell Mot A... 49% 49% 49% 49%
Maxwell Mot 8... 12% 12% 12% 12%
May Dpt St (5)... 90 90 90 90
Mex Seaboard(2). 20% 20% 20% 20%
MexSeabd ctfs(2) 20 20 19% 19X4
Miami Cop (2)... 22% 22% 22%. 22%
Middle St Oil IX4 1% IX4 IX4
THE EVENING STAR, WASHINGTON, D. C„ SATURDAY, JULY 19, 1924.'
Open. High. Low. Oloee.
Minn &St Louis.. 2% S 2% 8
Mis Kan A Tex... 15% 15X4 16% 16%
MlaK&Texpf... 46 46% 44% 44%
Missouri Pacific.. 18% 19% 18% 19%
Missouri Pac pf.. 49% 49% 49 49
Mont Power (4).. 67% 67% 67% 67%
Montgom Ward.. 29% 29X4 29% 29X4
Vson Mot (3).... 20 20% 20 20%
Mother Lode 75c. 7% 7% 7% 7%
Munsingw’r (3)., 30% 80% 30% £O%
Nat Acme 77 77
Nat Biscuit (I).. 60 60% 60 60%
Nat Dairy (3) "86% 85% 85% 86%
Nat Dept Stores.. 38 89 88 89
Nat En ASt 22% 22% 21% 21%
Nat Lead (8) 146% 146 146% 146
Nat Lead pf (7) .. 114 114 114 114
Nat Ry,M 2d pf. . t% 1% 1% 1%
Nat Supply (3).. 55% 65% 55% 65%
Nev Cons Cop 13% 13% 18% 13%
NTAIrBr(4).., 44 44 44 44
NTABrA(I).. 51% 61% 51% 51%
NT Central (7).. 107% 107% 107% 107%
NTC*BtL(6). 99*4 99% 99% 99*4
NyC&StLpf (4). 89 gg% 89 89%
NY Dock 33% 33% 83% 33%
NY NH A Hart... 27% 28% 27% 28%
NYOntAWest.. 21% 22% 21% 21X4
Norfolk South 20% 21 20% 21
Norf A W <tß> 124% 124% 123% 123%
North Amer (2).. 26X4 26X4 26% 26%
North Am pt (J).. 60 50 50 50
North Pac (6)... 65% 66% 65 65
Ontario Mining... 5 6% 5 6%
OnyxHospf (7). 84% 84% 84% 84%
Otis Elev (n) (4).. 66% 66% 66% 66%
Otis Steel 7% 7% 7% 7%
Pacific Develp... % X 4 % %
PacGA E (8).... 94XJ 94% 94% 94%
Pacific OH (2) 48 48 47% 47%
Packard (1.20).. Jl n 11 11
Packard pf (7).. 99% 99% 98X4 99%
Pan Amer (4).... 51% 52% 51% 51X4
Pan Amer B (4)., 49% 51 49% 50%
Rcnn Rallrid (B>. 45% 45% 45% 45%
Penn Seah Steel.. 2% 2% IX4 IX4
PcopGasCh (71. 98% 98% 98 68
Peoria Sc East 15% 15% 15% 15%
PereMarq (4)... 54% 54% 54% 54%
Phlla Co (4) Bl 51% 51 61%
Phlla AR A 1..., 47% 47% 45% 46
Phil Mor (50c>... 12% 12% 12 12%
Phillips Pet (2)... 83% 83% 83% 33%
Pierce-Arrow.... 9% 9% 914 9*
Pitts Uirf 1.65... 13% 13% 13% 13%
Pitts A West Va.. 49% 49X4 49% 49%
Postum Or (4),, 62% 53 52% 63
Press StlC (4)... 52% 52% 52% 62%
Prod A Refiners., 25% 25x4 25% 25%
Pr &Rps (3 %) . . 45 46 45 45 *
Pub RerN J (4).. 55% 65% 64% 54%
Public Serv rts... 16% 16% 16% 16%
Pullman Co (8).. 125 126% 125 126%
Punta A1 Su (5).. 49% 4914 4914 4914
Pure Oil 0X4>... 20% 20% 20% 20%
RyStSgpf (7).. 116X4 116X4 116X4 116X4
RayConsCop 11% 11% 11% 11%
Reading (4) 58% 58% 68% 68%
Reading rts 21% 21% 21 21
Replogle Steel... 13% 13X4 12X4 12X4
Rep Ir& Steel... 45% 46% 45% 46%
Reynolds Spr (2) 12% 12X4 12% 12%
Rey Tobß (3)... 71X4 71% 71% 71%
Royal Dutch rts.. 6V4 6% 6% 6%
Rutland pf 37% 37% 37% 37%
Bt Joseph lal (2). 58% 28v* 28% 28%
St L San Fran... 26% 26% 26% 26%
St L-San Fr pf... 53% 63 7 4 63% 53%
St L Southwest. . 44% 44% 43% 43%
StLS’thpf (8).. 69 7 4 69% 69% 69%
Savage Arms 60% 60X4 59% 59%
Schulte (8) 125 125% 124% 124%
Seaboard Air L.. 14% 16 14% IB
Seab’d Air L pf.. 30% 80% 30% 80%
Sears-Roeb’k (S>. 95 95 94% 94%
Seneca Copper... % % % %
Rhattuck-Ariz..,. 6% 6X4 6% 6X4
Shell TTn Oil (I).. 16% 16% 16 16
Shell Un pf (6).. 94% 94% 94% 94%
Simmons Co (1). 23% 23% 23% 23%
Simms Pet 12% 12% 12% 12%
Sinclair Oil 16V* 16% 16% 16X4
Skelly Oil 17% 17X4 17X4 17X4
South Pac («).... 94% 94X4 94% 94%
Southern Ry (5). 65% 66% 64% 64%
Spicer Mfg 10 10% 10 10%
Spicer Ms pf (8) . 80% 80% 80% 80%
Std Gas &El (J), 36 S6X4 36X4 86X4
St Oil Cal (J) 57 57 67 67
StOilNJ(l) 34 84 34 84
Std Plate Gl(7sc) 29 29 29 29
Stew’t War (10).. 62% 52% 51% 61%
Studebaker (4).. 36% 87 36% 37
Submarine Boat.. 10 10 9% 9X4
Superior Oil 7% 7% 7% 7%
Telautograph 7% 7% 7% 7%
TennCACh 7X« 7% 7% 7X«
Texas Co (3).... 39% 39% 88X4 39
Tex Gulf (t 6%). 71% 72 71X4 72
Texas & Pacific.. 34 84 33% 34
Tex A PacC AO. 9 9% 8% 8%
Third Avenue.... 16% 16% 16% 16%
Timken (t 3%)... 33% 33% 33% 83%
Tob Prod (6).... 62% 63% 62% 62%
TobProd A (7)... 91% 91% 91% 91%
Transcont Oil 4% 4% 4% 4%
Underwood (3).. 37% 37% 37% 87%
Un Bag Pa (6)... 50% 50% 50% 50%
Un Pacific (10)... 137% 138 13744 138
Un Pac pf (4) 75 76 75 75
Utd Alloy Steel... 22% 22X4 22% 22%
Utd Cigar Stores. 49% 49% 49% 49%
United Drug (6). 80% 81 80% 81
Utd Fruit (10)... 204 204 202 202
Utd Ry In vest 16% 16% 16% 16%
Utd Ry Invest pf. 47 48% 46X4 47%
U S Cast Iron P.. 99X4 99% 99 99X4
U S Distributing. 24 24X4 24 24X4
U S Hoff Mach... 20% 21 20% 21
US Ind Alcohol.. 71% 71% 71% 71%
USR&Im (8)... 95% 95% 95% 96%
US Rubber 29 80 29 29X4
USR Istpf (8)... 79% 79X4 79% 79%
US Smelting 27 28 27 28
USSm’tpf (3X4) 45 45% 45 45%
US Steel <t«> 100 100X4 99% 100
US Steel pf (7).. 122 122 121% 121X*
Utah Copper (4).. 72% 73 72% 73
Utah Securities.. 29% 29% 29 29
Vanadium Corp.. 21% 21% 21% 21%
Va-Caro Ch pf... 4% 4% 4% 4%
Vaßy A Power... 63% 63% 63% 63%
Wabash 15% 15X4 16X4 16X4
Wabash pf A.... 46% 46% 44% 44%
Wabash pf B 30% 30% 30V* »OV*
Web&Hellb (1). 16% 17 16% 17
Wells Far (2%). 41% 41% 41% 41%
West Pen (4).... 78 78 73X4 78X4
West Maryland.. 12 12X4 12 12X4
West Mary 2d pf. 21X4 21X4 21 21
West Un Tel (7). 109X4 109X4 109X4 109X4
West E& M (4).. 62% 62% 62% 62%
WE Istpf (4)... 79% 79% 79% 79%
Wheel&L Erie.. 18X4 13% 13 13
Wheel &L Er pf. 24 24 23% 23%
Wh EagOll (2),. 23X4 23% 23X4 23X4
Wick wire Sp Stl.. 1% 1% 1% IX4
Wilson A C 0..... 8 8 8 8
Willy s-Overland. BX4 BX4 »X 4 BX4
Woolworthn (3).. 110X4 110% 110X4 110%
WthPpf A (7).. 73 73 73 73
Wright Aero (1). 12X4 12% 12X4 12%
WrigW Jr (3)... 38% 38% 88% 88%
tPartly extra. JPayable in preferred stock.
Dividend rates as given In the above table
are the annual cash payments baaed on the
latest quarterly or half-yearly declarations.
Unless otherwise noted, extra or special
dividends are not included.
JOBBING TRADE ACTIVE.
Bradstreet’s Sees Better Buying at
Wholesale in Near Future.
NEW YORK, July 19 —Bradstreet’s
today says:
“Trade is mainly of a midsummer
character, with retail lines, aided by
crop improvement and ‘sales’ rela
tively most active. There is evidence,
however, that the continued rise in
grain prices, the very decided gain in
corri and other crop conditions, and
the cheerful tone of security markets
are causing the better feeling in
wholesale lines to take more definite
form in the shape of a willingness to
buy more freely of textiles for the
nearer future.
‘.‘■While jobbing trade is naturally
of a refill or reorder character, there
Is evidence of a fairly active trade in
this line and of some expansion of
primary purchases for the late sum
mer and early fall. Collections are
a shade better. Weekly bank clear
ings, $8,388,636,000.”
. HUMBLE OH GUTS PRICES.
HOUSTON, Tex., July 19.—The
Humble Oil and Refining Company
has posted another 25-cent reduction
In the price of gulf coast crude, A
grade going to $1.50 • a barrel. B
grade was cut from $1.45 to $1.30.
Similar prices were posted later by
the Texas Company and Oulf Pro
duction Company.
LOW-PRICED RAILS
FEATURE IN BONDS
Today’s Changes Fractional,
But Tone Is Firm —Week’s
New Issues, $50,000,000.
BY GEORGE T. HUGHES.
Special Dispatch ot The Stsr.
NEW YORK, July 'l9.—The feature
of the trading in bonds on the last
day of the week was the low-priced
rails. Some such development was
to have been expected from the ac
tivity in the stock market. While
the stocks have been going ahead
rapidly, the corresponding bonds
have lagged behind.
Comparison of prices leads to the
belief that either the stocks are too
high or the bonds are too low. A
case in point is the St. Paul. While
the preferred stock has been ad
vancing from 25 to 27% during a
week’s time, the 4 per cent bonds ot
1925, selling around 80, are up only
about a point. And the successtul
refunding of this large bond issue is
essential to a solution of the SSL
Paul’s difficulties.
Seaboard Bonds Strong.
Seaboard Air Line adjustments have
advanced more than 3 points this week
and held the gain today. But even at
today's price the current Income yield
is around 8 per cent, and there is 12%
per cent accumulated back interest
which must be paid off before the pre
ferred stock can come in for dividend
consideration. The movement in the
Erie issues has been more logical. All
the junior bonds were up from 2 or 3
points on the week, which is about In
keeping with the rest of the market and
with earning conditions.
The market for the purely Investment
bonds has been quietly firm, without the
activity which accompanied the new
high records in the Government list
earlier in the year. At the same time
prices have been creeping upward, and
during the last two days the high-grade
railroad mortgage issues have been par
tlcularly strong. United States Govern
ment loans are very little changed.
Brazilian Bonds Steadier.
In the foreign group attention has
been almost monopolized by Brazilian
bonds, the market for which, however,
steadied at the end of the week,
partly on short covering and partly
on more favorable news. French
bonds have dragged.
The week’s new financing totaled
nearly $50,000,000. The most interest
ing new issue was the Great Consoli
dated Electric Power Company 7s, the
successful placing of which showed
that the market would still take kindly
to a Japanese obligation.
Changes Only Fractional.
By the Associated Press.
NEW YORK. July 19.—Bond trad
ing lapsed into midsummer dullness
today with prices of most issues fluc
tuating within fractional limits in
the early dealings. Buying of the
semi-speculative rail lions, however,
gave a firm tone to the market. St.
Paul obligations attracted most of
the orders and scored gains ranging
from small fractions to 1% points.
Third Avenue Adjustment 5s and Chi
cago and Eastern Illinois 5a ad
vanced about a point each and fur
ther recovery took place in Brazilian
Central Hallway 7s.
CHICAGO LIVE STOCK MARKET.
CHICAGO, July 19 (United States
Department of Agriculture).—Hogs—
Receipts, 6,000 head; active, 5 to 15
higher; mostly 10 up; lightweight
scored full advance; light lights and
slaughter pigs. 15 to 25 higher; top.
8.20; bulk good and choice 170 to
300 pounds, 7.95a5.20; packing sows.
7.00a7.35; desirable strongweight
slaughter pigs, 6.50a7.00; estimated
holdover, 4,500 head.
Cattle —Receipts, 500 head; most
killing classes unevenly 25 to 75
lower; mostly 50 to 75 off: lower
grades light grass steres. yearlings,
heifers and in-between grades fat
cows showing most run; many grassy
cows practically unsaleable; late at
I. decline; bulls sharing general
downturn; vealera. 1.00 to 1.25 lower
Stocker and feeder, trade light; sup
ply smallest of season; extreme top
handyweight and weighty steers,
11. best long yearlings, 10.60;
grassy native southwestern steers
numerous at 6.50a7.75; week’s bulk
prices follow: Beef steers. 8.25al0.00;
Stockers and feeders, 5.50a7.00; fat
cows. 4.35a6,35; fat heifers, 6.50a8.00;
veal calves. 9.25a10.50. „
Sheep—Receipts, ijiOO head; today’s
receipts practically dll direct; market
nominally steady; for week around
8.400 head direct; 68 cars, feed lots;
compared with week ago. fat lambs
and yearlings around 50 higher; sheep
steady to strong feeding lambs 25
higher; top range lambs, 14.50;
native, 15.00; yearlings. 12.00; feeding
lambs, 12.25; week’s bulk prices fol
low: Fat range lambs. 14.00a14.50:
culls, 9.00al0.00; fed vearlings 11 00
a.12.00; fat ewes, 4.50a6.00; feeding
lambs. 11.75a12.00. B
- .
TREASURY CERTIFICATES.
(Quotations furnished by Redmond A Co.)
Bid.^* o**’ 0 **’ Offer'
j%s September 15, 1924... 100% 100 9-lfl’
4%» December 15. 1924 100 13-16 100 15-16
4s March 15. 1925 101 101X6
4%s March 15, 1925 101% 101%
4%s June 15. 1925 101 916 101 11-16
4%» December 15. 1925.... 101 23-32 101
4% s March 15, 1926 102 9-16 102H-1G
4X*« September 15,•1926... 101% lo - *
4%s March 13, 1927 103 5-32 103 9-3‘>
4%s December 15, 1927 103 3-16 103 5-16
SHORT-TERM SECURITIES.
(Quotations furnished by Redmond A Co.)
, Close ,
Bid. Asked.
Aluminum Co. of Amer. 7s 1925. 103 103%
Aluminum Co. of Amer. 7s 1933. 107% 107%
American Sugar Gs 1937 99% 100
American Tel. A Tel. Go 1925... 114% 117
Anaconda Copper Gs 1929 103% 103%
Anglo-American Oil 7%» 1925 102% 102%
Associated Oil 6s 1935 100% 100%
Bell Tel of Canada 5s 1925 98% 9g%
Canadian Northern 5%s 1924.... 100% 100%
Central of Georgia Go 1929 103 103%
Central leather 5s 1925 99% 991?
Chi., Mil. A St. Paul Gs 1934.. 98% 99%
Chi.. R. I. A Pac 5%s 1928 101 101%
Colum. Gas A Elec. Ist 5s 1927 . 99% 100%
Du Pont 7%s 1931 108% 108%
Federal Sugar Ref. 6s 1833 99% 100%
Fisher Body Corp 6s 1927 101% 102
Usher Body Corp 6s 1928 100% 101%
Goodyear T. AK. 8s 1831 100% 104
Great Northern 7s 1936 109% 109%
Gulf Oil of Pa 5%s 1928 101% 101%
Bumble Oil 5%s 1932 99 99%
Kennecott Copper 7s 1930 106% 100%
M.. St. P. A S. S. M. 6%s 1931. 103 103%
Morris A Co. 7%s 1930 97% 98%
New York Central 6s 1935 107% 107%
Oregon Short Lines 4s 1929 96% 97%
Penna. R. U. 7s 1830 109% 109%
Pure Oil 5%s 1925 99% 100%
Swift * Co. 5s 1932 62% 93%
Tidewater Oil 6%s 1931 102% 103%
Union Tank Car 7a 1930 104 104%
U. 8. Rubber 7%s 1930 102 103^
XVestern Union 6%s 1936 111% 111%
Weatinghouse E AM. 7s 1931.. 108% 108%
Wheeling Steel Gs 1926 100% 101%
CHICAGO STOCK MARKVT.
CHICAGO, July 19.—Following Is a
report of today’s sales, high, low and
closing quotations at the Chicago
Stock Exchange:
Sales. High. Low. Cloae.
150 Armour of Del pfd_ 88% 88 88%
170 Com’wealth Edison. 127% 127 127%
GO Montg Ward “A”.. 114 113% 118%
78 Nat Leather 2% 2% 2%
45 Quaker Oats ptd... 101% 101% 101%
5375 Stewart Warner.... 53 51 52
95 Swift A Co 102 101% 102
820 Swift Inti 20 16% 20
460 Un Carb A Carb.... 58% 58% 58%
225 U 8 Gypsum 88% 'BB% 88%
2660 Wahl 26% 23 25%
425 Wrlgley 39% 38% 39
350 Yellow Mfg B 53 52 % 53
Total sales, 18,000 shares.
WAGE DEMANDS DENIED.
SEATTLE; July 19 (Special).—The
demand for skilled workers in the
metal trades for an increase from
$8.50 to $9.50 a day has been re
fused by employers, who have issued
advertisements announcing an open
shop. Three hundred workers have
quit
ON NEW YORK BONDS STOCK EXCHANGE]
Received ky Private Wire Direct te The Star Office.
(Balsa at* la «1,W9.)
UNITED STATES BONDS.
{Fractions represent thirty-second*.
Example: 101-3 means 101 S-BS.)
, Sales. High. tow. Close.
L«b »H* 151 101-14 101-14 101-14
Lib Ist 4%*... 2 (02-1 102 102-1
Lib 2d 4%*.., 95 101.16 101-14 101-U>
Llb*d4X4s... 15 102-7 102-5 102-7
Lib 4th 4% a.. 268 102-6 102-3 102-6
U S 4%s 1*52, 69 104-26 104-24 104-26
FOREUQN.
. Sales. High. Low. Close-
Argentine «*’17... 17 93 93 93
Austria 7a...-,.,.. 4 92% 92X4 92%
Belgium 7%* 1 108 105 106
Belgium 8s 14 105 104% 104%
Bolivia 8s 7 91 90% 90%
Bordeaux 6s 2 85X4 BBX4 86X4
Bratll 7a 10 84 82% 83
Brazil 7%a 5 98X4 98X4 98X4
Brazil 8s 20 94X4 93% 94%
Canada 5s 1926.... 5 101X4 101X4 101X4
Canada 6s 1931 18 101X4 101% 101%
Canada 5s 1952 21 102% 102X4 102%
Canada £%s 1929.. 4 103X4 103% 103%
Chile 7z 1943 6 98 97% 97%
Chile 8a 1941 2 105% 105 105%
Chile 8s 1946 2 105% 105% 105%
Chinese Gov Ry 6s. 17 45% 45 45X4
Copenhagen 6%*.. 9 93X4 93 93
Cuba 6%a 55 97 96%
Czechoslovakia Bs. 31 96H 96H
Denmark 6s 19 98X4 98X4 98X4
Denmark 8s 2 110% 110% 110%
Dutch EI 6%s 6 90 89% 90
DEI 5%« ct 13 89% 89X4 89%
Dutch East I 65’47. 28 35X4 95% 95%
Dutch East I fis’62. 4 95 94% 94 4
French Govt 7% a.. 32 99 9M4
French Govt 85.... 48 102 101% 101%
Haiti 6s 1 90 90 90
Italy 6%s 1926 6 100% 100% 100%
Japanese 4s 23 80 79% 80
Japanese 6%s 73 91% 91 91%
JergensUM 65’47. 25 80% 79% 80%
Netherlands 65’54. 13 98% 98% 98%
Netherlands 65'72. 33 96% 95% 95%
Norway 6s 1943.... 23 97% 97 97%
Norway 6s 1952.. .• 8 98 98
Parla-Lv’s-Med 6s. 10 78% 78% 78%
Porto Algere 85... 2 96 96 96
Prague 7%s 2 89 89 89
Rio de Jan 8s 1946. 2 94% 94% 94X4
Rio de Jan 8s 1947. 6 93 93 93
Sao Paulo State Bs. 17 97% 97% 97%
Seine Dept of 75... 8 89% 89X4 89%
Serbs Crotes Slo 8s 21 85 84% 85
Sweden 6s 5 103 108 1W
Swiss B%s 1946... 334 96% 96% 96X4
Swiss Confed 85... 12 113% 113% 113%
Toklo Bs 9 61 60% 61
Ud Kingm 5%s ’29. 11 109% 109% 109%
Ud Klngm s%s’S7. 34 104% 104% 104%
Ud Steam Copen 6s 1 90% 90% 90%
MISCELLANEOUS.
Ajax Rubber«»... 33 87 85 86%
Am Agr Chem 7%* IT 88 87% 87X4
Am Chain s f 65’33. 2 94% 94% 94%
Am Cotton Oil 55.. 4 88% 88% 88%
Am Repub deb 65.. 4 92% 92% 92%
Am Smlt&R Ist 6s. 12 94% 93% 93%
Am Sug ref 6s 6 100% 100% 100%
Am TATcI tr 45.. 9 97% 97 97
Am T&Tcl tr ss. . 9 101% 101% 101%
Am T & T deb 5%5. 10 102% 102% 102%
Am T & Tcv 65.... 15 116X4* 116X4 116%
Am Water Wks ss. 5 91% 91% 91%
Anaconda Ist 65... 88 96% 96X4 96X4
Anaconda cv db 7s. 54 98% 98 98%
Armour &Co 4%5. 45 86 85% 86
Armour of Del 5%s 83 92 91% 92
Atlantic Refln Bs.. 14 99 98% 99
Bell Tel Pa 5s 12 100 99% 99%
Beth Steel pm ss. • 1 88% 83% 88%
Beth Steel rs 6s 7 95 94% 94%
Beth Steel 5%5'63. 5 88 88 88
Beth Steel s f 65... 75 96% 96 96^
Brier HSt Ist 5%s 10 97X4 97% 97%
Bklyn Ed gen 55... 4 100% 100% 100%
Bush T Bldg ss’6o. 1 97% 97% 97%
Central Leather 5s 31 99% 99% 99%
Chile Copper 65... 17 102X4 102X4 102%
Cin G& E 5%5’62. 6 100 100 100
Col Gas* El 55.... 16 100% 100% 100%
Col Gas & F.l 6s sta 8 100% 100% 100%
Commonwth P 65.. 10 93% 93% 93%
Con Coal Md Ist 5s 17 88% 88X4 88%
Denver Gas 5s 2 90% 90% 90%
Det Edison ref 65.. 12 106% 105% 105%
Du Pont de N 7X4»- 15 108% 1081* 108X4
Duquesne Light 6s. I 105% 105% 105%
Est Cuba Sug 7X4»- 6 105% 105% 105%
Empire G&F 7%5.. 27 93 92% 92%
Fisk Rubber 85.... 2 100% 100% 100%
Goodrich 6%s 1 96% 96% 96%
Goodyear 8s 1931. . 13 104% 104 104
Goodyear 8s 1941.. 3 116% 116% 116%
Hershey 6s 1942... I 103% 103% 103%
Humble O&R 5%5. T1 99% 99% 99%
Illinois Bell Ist ss. 13 97% 97% 97%
Illinois Steel4%s.. 11 94% 94% 94%
Int Mer Marine 6s, 9 86% 86 86%
Inter Paper 85'47.. 5 86X4 86% 86%
KCP& Lt 5s A’s 2. 4 94% 93% 92%
Kan GkEl 6s ’52.. 16 98 97X4 98
Kelly-Spring 85... 1 92% 92% 92%
Lackawa Sss ’50.. 12 90X4 90X4 90%
Liggett & Myrs ss. 1 97X4 97% 97%
Liggett & Myrs 7s. 6 118 117% 118
Lorlllard (P) 55... 2 96% 96% 96%
Magma Cop cv 75.. 3 113X4 111% 113X4
Mexican Petrol Bs. 1 105% 105% 105X4
Montana Power ss. I 97% 97% 97T4
Morrls&Co Ist 4%s 1 79X4 79X4 79X4
New Eng Tel 85... 12 101 101 101
N Y Edsn Ist 6%5. 3 112V4 112X4 U2X4
NYG ELH&P 55... 9 101% 101X4 101X4
N Y Tel 4% s 2 97% 97% 97%
V T Tel 6s ’4l 4 106% 106V4 106%
North Am Ed 65... 8 96% 96% 96%
North Am Ed 6%5. 8 100% 100% 100%
Nor States Pow ss. 6 93% 93% 93%
Nor States Pow 6s. I 103X4 103X4 103%
Northwst B Tel 7s. 5 109 108% 108%
Otis Steel 8s 1 96% 95X4 95X4
Pacific Gas &El 5s 2 93% 93% 93%
Pacific T&T 5s ’53 16 93% 93X4 93%
Phlla Co 5%s ’38... 13 93% 93% 93%
Phlla Co ref 6s A.. 3 102X4 102% 102X4
Phil & Rdg C&I ss. 23 100 99% 100
Pierce-Arrow Bs.. 6 78X4 78% 78X4
Pierce Oil deb 85... 8 99T4 99% 99X4
Public Service 55.. 2 98 97X4 98
Pub Serv Elec 6a - - 2 101% 101% 101%
Punta Alegre 75... 1 107 107 107
Sinclair Oil 6%5... 1 84 84 84
Sinclair OH 7s 14 90X4 90% 90%
Sin Crude Oil 6%5. 30 100 99% 100
Sin Crude Oil Sa. •. 7 100 99% 99%
Sin Pipe Line 55... 6 84% 84X4 84X4
South Bell Tel ss. . I 98 98 98
So Por Rico Sug 7s 4 102 102 102
Southwest Bell'Bs. 22 95% 95% 95%
Steel & Tube 75.... 1 105X4 105% 105X4
Tenn Elec Pow 6s. 3 98 97X4 98
Tide Wat OH 6%5. 3 103X4 103X4 103X4
Toledo Edn Ist 7s- 2 108X4 108% 108%
U S Rub Ist rs Bs.. 15 83 82% 83
US Rubber 7%5..- S 2 102% 102% 102%
U S Steel s f 85.... 30 104% 104% 104%
Utah Pow &Lt 65.. 10 92X4 92X4 92X4
Va-Car Chem 75... 30 62 61 62
Va-Car Ch 7X4s w. 3 32X4 32 32%
Vertlentes Sug 7s. 1 94 94 94
Warner Sug 7s ’4l. 3 102% 102 102%
Western Elec 85... 17 98X4 98X4 98X4
Western Union 6% 1 111% 111% 111%
Weatinghouse 75.. C 108% 108X4 108X4
Wlckwire Spen 7*. 3 69 69 69
WHlys-Ov 6X4»'«- 4 98 97% 97%
Wilson &Co Ist 6a. 1 88X4 88% 88X4
Winchester A 7X4»- 3 101% 101% 101%
Toungstfi S&T 6s 28 95% 95X4 93%
MORE FREIGHT MOVED.
BALTIMORE. July 19 (Special).—
Freight loads moved on the Sea
board Air Line railroad, showed an
Increase of 11.6 per cent, for the week
ending July 15, as compared with the
corresponding week of ,1923. The
total was 34,086 cars, as against 30,-
547 last year.
CARS NEEDING REPAIRS.
Freight cars In need of repair on
July 1 totaled 194,869, or 8.5 per
cent of the number on line, an In
crease of 2,398 over the number on
June 15, the American Railway As
sociation reports.
388 FAILURES IN WEEK.
B. G. Dun & Co. reports 388
commercial failures in the United
States this week, an increase of
about 100 over the total a year ago,
217 having liabilities of $5,000 or
more in each case.
RATES ON BAR SILVER.
LONDON, July 19.—Bar silver,
34 6-16 d per ounce. Money, 2X4 Per
cent. Discount rates: Short bills,
3X4a3X4 per cent; three-month bills,
3 9-16a3% Per cent
RAILROADS.
Sale*. High. Low. Clout.
Ann Arbor 4a I 61(4 6114 6114
Atchlaon sen 4a... 22 9014 90% 9014
Atlantic CL cl 4a.. 12 86 85% 85%
Atlantic CLlat 4a. 4 91% 91% 91%
a&oprln 3%5... 8 99% 99% 99%
BA O cold 4a 4 87% 87% 87%
B A0cv4%5...... 1 90 90 90
BA O ref 6a 6 85% 85% 85%
BiOla 2 103 102% 108
BAOrflmpßs II 101 100% 101
B&O SW dlv l%a. 10 99% 99% 99%
B& O Toledo 4a... 1 68% 68% 68%
Bklyn-Manhat 6a.. 36 80% 80% 80%
Bkl RT 7a '2l ct at. 2 110% 110% 110%
Canad North 7a.... 11 114% 114% 114%
Canad Pae deb 4a.. 6 81 81 81
Car Clinch A O 6a.. 6 98% 98% 98%
Car Clinch AO 65.. 10 102 102 102
Cent of Ga 6a 1 103% 103% 103%
Central Pacific 4a.. 4 88% 88% 88%
Chea AO cr 4%a... 4 95% 95% 95%
dies AO gn 4%a., 94 90 89 90
Chi A Alton 3a 13 61% 60% 61%
Chi A Alton 3%5... 36 39% 88% 39%
Chi BAQ gn 4s'6B. 1 89% 89% 89%
Chi BAQ Ist rs 6a.. 3 100% 100% 100%
Chi AElllgn 85...163 73% 73% 73%
Chi Great West 4a. 20 56% 66 66%
CM A Puget Sd 4s. 5 55% 65% 65%
Chi MASt P4a ’26.193 80% 80% 80%
Chi MASt P4s ’34.. 1 72 72 72
CMASt Pdb 4a... 48 54% 63% 53%
Chi MASt Pcv 4%s 33 62 61 61%
Chi MASt Prf 4%a 57 64% 63% 64%
Chi MASt Pcv 6a. 50 59% 68% 69
Chi MASt P6a 17 100% 100 100
Chi AN Wref 6a.. 24 96% 96 96
Chi A NW 7s 1 107% 107% 107%
Chi Rys 6a 9 77% 77 77
Chi RIA Prs 4a... 45 82% 82% 82%
Chi Un Sta 6%5.... 5 117 117 117
CCC AStL 5s 9 95% 96% 95%
CCC AStL.rf 6s A. 5 103% 103 H 103%
Cleve Term 6a 11 99% 99% 99%
Cleve Term 6%a... 1 106% 106% 106%
Den A Rio Gcn 4s. 3 77% 77% 77%
DA R G let rs 6a.. 14 44% 44% 44%
Des M&FtD4s ... 3 40% 39% 40%
Erie Ist con 45.... 21 71 70% 70%
Erie gen 4a 25 61% 61% 61%
Erie conv 4s A.... 13 63% 63% 63%
Brie conv 4s B 3 63 63 63
Erie couv 4a D.... 40 72% 72 72%
Gr Trunk of db 6s. 2 105% 105% 105%
Grand Trunk 7a... 10 114% 114% 114%
Great North 5s 28 93% 93% 93%
Gr North gen B%t. I 101% 101% 101%
Gr North gen 75... 19 109% 109% 109%
Hud A Man ref 65.. 30 87 16% 87
Hud A Man aj 55.. 2 68 68 68
HI Cent ref 65'56.. 5 104% 104% 104%
Int Rap Tran 8a... 10 68% 68% 68%
Int Rap Tr 5s stpd. 25 68% 68% 68%
Int Rap Tran 65... 13 71% 71% 71%
Int Rap Tran 7a... 82 91% 91% 91%
Int A G Nor Ist 6». 30 98% 97% 98%
Int AG Nor a] 6a.. 11 63% 53% 53%
Kan City Ft S 4a... 3 81% 81% 81%
Kansas City S3a.. 5 71% 71% 71%
Kansas City S 65.. 7 90 90 90
Kan City Term 4s. 6 85% 85 85%
Lake Shore 4s ‘28.. 47 98 98 98
Lehigh Valley 65.. 4 103% 103% 103%
Manhat Ry cn 45.. 25 62 61% 62
Market St Ry 7a... 8 99% 99 99%
Mil El Ry A L 65... 1 86% 86% 86%
MA St List ref 4s. 10 19 19 19
MAStLrfci 55.. 1 16% 16% 16%
MK A T Ist 4i.... 2 82 81% 82
MKAT4&B I 70% 70% 70%
MKATadJBa 36 62 61% 62
MKATprlntsA. 16 86% 86% 86%
MKATSaC 4 101% 101% 101%
Mo Pacific gn 45... 87 61 60% 61
Mo Pacific 55’66.,. 1 83 83 83
Mo Pacific 6s 2 98 98 98
NO Tex A Min 6s. 11 92% 92% 92%
N Y Cent cn 4s ’9B. 5 85% 85% 85%
N Y Cent r 1 55.... 18 99% 99% 99%
NT Cent deb 65... 228 108% 107% 108%
N T Chi AS L 5%5. 18 95% 95% 95%
N Y C ASt L 6s A.. 1 102% 102% 102%
New Haven d4s '57 1 49 49 49
New Haven c d 6s. 9 76% 76% 76%
New Haven 7a 24 86% 86% 86%
New Haven 7s fr.. 5 85% 85% 85V*
N Y Ont A W ref 4s 2 66% 66% 66%
New York Ry rs 4s 5 39% 39% 39%
NYRyrf 4s ctfs.. 5 39% 39% 39%
New York Ry aj 5s 30 4% 4% 4%
N Y Rys adj 5s ct.. 13 4% 4% 4%
N Y State Ry 4%5. 3 63% 63% 63%
NY W A Bos 4%5. 17 53% 52% 53%
Norfolk AW cv 6s. 1 124 124 124
Northern Pac 4s. .. 17 86% 86 86%
Northern Pac 6s D. 8 96 95% 95%
Northro Pac r 1 6s. 18 106% 106% 106%
Ore-Wash Ist rs 4s 1 83% 83% 83%
Pennsyl gen 4%5.. 15 9314 93% 93%
Pennsyl gen 5s 31 103 102% 102%
Pennsyl 6%s 2 110% 110% 110%
Pennsyl gold 75... 2 109% 109% 109%
Peoria A E Inc 45.. 1 34% 34% 34%
Pere Mrq let 4s ’56, 5 80% 80% 80%
I'ere Marq Ist 65.. 29 97% 87% 87%
RloG West cl 4a... 8 70% 70% 70%
R I Ark AL 4 %s.. 10 81% 81% 81%
St LIMAS 45'29... 4 92% 92% 92%
St LIMAS RAG 48.216 86 84% 86
St LASF pi 4s A.. 35 70% 70% 70%
St LASF pr In 6a. 17 86% *B6 86%
StLASFadj 65.. 23 78% 78 r «B%
St L ASF Inc 65...169 69% 69% 69%
St L A S F pi 6s C.. 74 102% 102% 102%
St LS Wist 4s 31 82 81% 82
St LS W con 45'32. 10 84% 84% 84%
StP A KCShL 4%5. 5 80 80 80
Seab d A Lref 45.. 122 55% 55% 55%
Seab’d A L adj 65.. 84 65 64% 65
Seab d A Leon 65.. 6 81% 81% 81%
Sou Pacific clt 45.. 1 86 86 86
Sou Pacific ref 45.. 20 90% 90% 90%
Southern Ry gn 4s. 21 74% 74% 74%
Southern Ry Ist 5s 6 100% 100% 100%
Southern Ry 6s ct. 34 102 101% 102
Southern Ry 6%5.. 4 107% 107% 107%
Third Ave ref 45... 19 59% 59 59%
Third Ave adj 65.. 68 65% 54% 55
Toledo Traces 1 100% 100% 100%
Union Pac Ist 45... 3 93% 93% 93%
Union Pac Ist rs 4s 3 87% 87 87%
Union Pacific 4s '27 5 99% 99% 99%
Union Papist rs 6s 1 106 106 106
Virginia Ry Ist 6s. 5 96% 96 96%
Va Ry A P Ist 65.. 2 94 93% 94
Wabaah Ist 6*.... 6 100% 100% 100%
Western Md 4a.... 5 63% 63 63
Western Pacific 6s 6 89 88% 89
Wisconsin Cent 4s. 2 83 82% 83
FOREIGN EXCHANGE.
(Quotations furnished by W. B. Bibbs & Co.)
Nominal gelling
gold value, cheeks today.
London, pound 4.8603 4.38%
Montreal, dollar 1.00
Paris, franc 193 .0514
Brussels, franc 193 .0437
Berlin, mark 038 .24 trillion.
Home, lira 193 .0432
Zurich, franc 193 .1827
Athens, drachma 193 .0172
Madrid, peseta 193 .1327
Vienna, crown .2026 .000014%
Budapest, crown 2026 . 00012%
Prague, crown 2020 .0294%
Warsaw, mart .238 .00001925
Copenhagen, crown 268 .1608
Christiania, crown 268 .1344
Stockholm, crown 268 .2653
By the Associated Press.
NEW YORK, July 19.—Foreign ex
changes firm. Quotations (in United
States dollars): Great Britain, de
mand, 4.38%; cables, 4.38%; 60-day
bills on banks, 4.35%. France, de
mand, .0513; cables, .0514. Italy, de
mand, .0431; cables, .0431%. Belgium,
demand, .0456; cables, .0457. Germany,
demand (per trillion), 23%. Holland,
demand, .3801. Norway, demand,
.1342. Sweden demand, .2660. Den
mark, demand, .1606. Switxerland,
demand, .1825. Spain, demand .1326.
Greece, demand, .0173. Poland, de
mand, .0019%. Czechoslovakia, de
mand, .0297%. Jugoslavia, demand.
.0119%. Austria, demand, .000014.
Rumania, demand, .0045. Argentina,
demand, .3250. Brazil, demand, .10.
Tokio, demand, 41. Montreal, .99 9-16.
ONLY 508 LOSE JOBS.
DETROIT. July 19 (Special).—The
decrease In industrial employment in
local plants for the week has been
less than for any week since March
IC, with one exception, totaling only
508, compared with 1,416 last week and
5,207 the week before. Total em
ployment by Employers’ Association
members now is 194,570.
COTTON QUOTATIONS
VERY UNEVEN TODAY
Market Opens Easy, But Prices Ad
vance Later on Week
End Covering.
B r the Associated Pres*.
NEW YORK, July 19. —The cotton
market opened easy today at an ad
vance of 3 points on July, but gener
ally 14 to 32 points lower under re
alizing in anticipation of the govern
ment crop report Monday and scat
tered selling encouraged by reiterated
reports that dry hot weather had
caused little or no damage to crop
prospects in Texas.
July was in demand, however, sell
ing up to 31.60 on further covering or
20 points net higher. After declining
to 26.14 at the start. October rallied
to 26.20 in sympathy with the near
month strength.
Cotton futures closed barely steady.
High. l-ow. Close.
July 31.60 31.40 31.50
October 26.25 25,88 25.95-98
December 25.33 25.01 25.07-12
January 25.20 24.88 24.96
March 25.46 25.17 25.26
Opening; July, 31.45; October, 26.25: _ De
cember, 25.32; January, 25.17; March, 25.50,
bid.
New Orleans Market.
NEW ORLEANS, July 19. —The cot
ton market opened a trifle easier and
first trades showed losses of 13 points
on active new crop months. Prices
eased off further during and imme
diately after the call until October
traded at 25.28, and December at
25.12, or 20 and 16 points under the
closing prices of yesterday. The sell
ing was due to reports of beneficial
rains in west Texas, which are said
to have covered a fairly wide area,
The market raillied slightly after the
first rush of selling, awaiting the
showing of the weather map. Cotton
goods news was more encouraging.
Colton futures closed steady at net decline
of 38 to 40 points.
High. I.OW. Close.
July 27.40 27.40 27.50 28.00
October 25.42 25.03 25.08-15
December 25.22 25.82 24.90 93
January 25.08 24.78 24.82 hid.
March 24.88 bid.
Opening: July, 28.00, asked: October, 25.35:
December, 25.15; January, 25.05; March, 25.15.
CHICAGO GRAIN PRICES.
CHICAGO. July 19.—Rains in Can
ada and in parts of the domestic
spring crop belt led to fresh de
clines in the price of wheat today
during the early dealings here. Un
expected firmness of Liverpool quo
tations had only a temporary bullish
influence on the Chicago market.
Reports, however, that the weather
of the next few days would determine
the rust question for South Dakota
and southern Minnesota attracted
considerable notice. Furthermore,
there were complaints of a wet
harvest in Nebraska. Opening prices,
which ranged from a haif-cent de
cline to a half-cent advance, Septem
ber 1.24a1.25 and December 1.27%a
1.28, were followed by a material set
back all around.
Cool weather unfavorable for corn
growth tended to strengthen the
com market. After opening un
changed to 1 higher, September
1.04%a1_04%, values sagged some
what, but soon scored a general
upturn.
Oats were easier, sympathizing
with wheat. The start was un
changed to % off, September 47*4a
47%. Further losses ensued.
Higher qoutationa on hogs gave
firmness to provisions.
WHEAT— Open. High. low. Close.
July 1.26 1.28% 1.25% 1.28%
September 1.24% 1.27 1.23% 1.26%
December 1.27% 1.29% 1.26% 1.29%
CORN—
July 1.09% 1.09% 1.09% 1.09%
September 1.04% 1.05% 1.03% 1.04%
December 92% .94% .92 .93%
July 54 . 54% .53% .53%
September 47% .48% .47 .47%
December 49% .50% .48% .49%
July 12.42
September 12.47 12.60 12.47 12.57
October 12.57 12.72 12.55 12.70
BIBS—
TulJ 10.60
September 10.85 10.85 10.85 10.85
October 10.85 10.87 10.85 10.87
GRAIN AND PROVISIONS.
BALTIMORE, Md., July 19 (Spe
cial). —Potatoes, new, barrel, I.ooa
2.75; beans, bushel. 1.25a1.85; beets,
100. 3.00a5.00; cabbage. 100, 3.00a5.00;
carrots, 100, 4.00a6.00; corn, crate,
1.00a1.75; celery, bunch. 50a1.2D; cu
cumbers, basket, 75a85; eggplant,
crate, ].50a5.50; lima beans, bushel.
4.00a5.00; lettuce, bushel, SOal.OO:
spring onions, bushel, 1.50a1.75; peas,
bushel, 2 00a2,50; peppers, basket, 2.00
a2.50; spinach, basket, 2.00; rhubarb.
100, 3.00a4.00; radishes, 100, 1.50a3.00;
squash, basket, 75a1.00; tomatoes,
basket, 3.00a4.00.
Apples, barrel, 1.50a3.50; bushel, 50
a1.75; cherries, pound, 5a15; blackber
ries, quart, ' 1 Oal 4 ; pineapples, crate,
2.50a4.00; huckelberries. quart, 15al8;
plums, basket, stial.OO; peaches, crate,
75a1.50; melons, 100, 15.00a40.00: can
taloupes. crate, 1.00a3.50; raspberries
pint, 12a15.
Settling Prices on Grain,
Wheat—No. 2 red winter, spot,
1.32; No. 2 red winter, garlicky,
1-27%; No. 3 red winter, garlicky,
1.24%.
Sales —Bag lots of nearby sold at a
range of 1.05 to 1.25 per bushel. Car
goes on grade No. 2 winter, garlicky,
at 1.27%; No. 3, 1.14%; No. 4, 1,20%;
No. 5, 1.16%.
Corn—Cob, new, 5.00 per barrel for
yellow and 4.85 per barrel for white;
No. 2 corn. spot. 1.08; No. 3, no quota
tion; track corn, yellow, No. 2, 1.25
nominal.
Oats —No. 2 white, 65% and 66; No.
3 white, new, 64% and 65.
Rye—Nearby. 90; No. 2 rye, spot,
90.
Hay—Receipts, 32 tons. The local
hay market is amply supplied with
both grades and kinds and the move
ment of old hay has been so sluggish
that dealers have refrained from en
couraging shipment of new hay. The
poorer qualities of grassy, weedy and
dark mixed hay are particularly hard
to dispose of.
Quotations —No. 1 timothy, 28.00;
No. 2. 26.00a27.00; No. 3. 22.00a24.00;
No. 1 light clover, mixed, 25.00a25.50;
No. 2 light clover mixed, 23.00a24.00:
No. 1 clover mixed. 24.00a24.50; No. 2
clover. 21.00a22.00.
Straw —No. 1 straight rye, 23.00a
24.00 per ton; No. 1 tangled rye, 18.00
a20.00; No. 1 wheat, 17.00a17.50; No.
1 oat, 16.50a17.00.
GRAIN PRICES LOWER.
WINNIPEG, July 19. —Fairly gen
eral rains throughout Manitoba and
some parts of Saskatchewan and Al
berta last night Imparted a weak
tendency at the opening of the
wheat market today. Lower Liver
pool cables also created easier feel
ing, opening prices ranging from
V> cent lower. Within a short period
further declines were recorded July
touched $1.34%, a loss of about 2
cents; October. $1.27%, a decline of
2%: December, $1.23%. and May,
$1.26%, a loss of 2%.
WEEKLY BANK REPORT.
NEW YORK, July 19.—New York
bank clearings, $808,000,000; New
York bank balances. $94,000,000: New
York Federal Reserve Bank credits,
$74,000,000.
WOOL AGAIN ACTIVE.
BOSTON, July 19 (Special).—The
wool market continued strong and
animated today, although many
traders believe the buying movement
of the mills has spent Itself tempo
rarily. The Western growers, how
ever, have taken advantage of the
advance in prices and have disposed
advantageously of considerable of
their holdings. Prices are 10 to 15
per cent higher than a fortnight ago.
NEW YORK EGGS FIRM.
NEW YORK, July 19. —Butter,
weak; receipts, 18,502. Creamery,
higher than extras, 40%a41%; cream
ery, extra (92 score). 40%; creamery
firsts (88 to 91 score), 38a40.
Eggs, .firm: receipts, 10,839. Pa
cific Coast
do., firsts to extra firsts, 32a38.
LIVE POULTRY PRICES.
CHICAGO, July 19.—Poultry market
easy: fowls, 16a20%; broilers, 28a35;
roosters, 14.
FI-NANCTAIV
1.1 DELEGATES
VISIHAPITAL
Members of Banking Institute
Guests of Local Chapter
on Special Tours.
BY CHAS. P. SHAEFFER.
Approximately 1,400 Juniors in the
banking business, young men and
women, who have been in attendance
on the convention of the American
Institute of Banking at Baltimore
during the last few days, arrived in
this city this morning and are spend
ing a large and very generally per
fect day as the guests of the local
chapter of the national body.
This organization, which will pro
vide the next banking generation, is
largely supported by the American
Bankers’ Association as its educa
tional branch, so that there is avail
able to the banking world a continu
ous supply of trained and thoroughly
competent assistants.
After discussing serious and tech
nical topics and being surfeited by
the entertainment offered by Balti
more, the guests are finding the
beauty of Washington and the char
acter of their reception altogether
delightful.
Guests of Local Chapter.
The Washington Chapter has
spared no effort nor expense in of
fering to the visitors the best the
city affords. About $4,000 is being
expended on the day’s entertainment,
it is said, which will be culminated
tonight at the New National Museum
in a reception lasting from 7 to 11
o’clock. Automobiles have been com
mendeered from every known source
by Francis G. Addison, jr„ chairman
of the transportation committee, and
failing to raise the necessary number
he has called on the taxi companies
around town to make up the balance
These will be used for the extensive
sightseeing tour which has been planned
for 2:30 this afternoon.
The complete itinerary for the day
follows:
8:30 a.m.—Leave Baltimore, Penn
sylvania Railroad and Baltimore and
Ohio Railroad.
9:25- —Arrive Union Station, Wash
ington.
9:40 —Board Washington Railway
and Electric cars for Mount Vernon
wharf.
10:15—Boat leaves for Mount Ver
non; wreath will be placed on grave
of Washington; group picture at
mansion.
12:30 p.m.—Boat leaves Mount Ver
non for Washington; luncheon on
boat.
2:ls—Arrive in Washington.
2:3o—Autos leave wharf for sight
seeing trip; wreath will be placed
on grave of Unknown Soldier.
at Pan-American
building.
5 to 7—-Marine 1 Band concert, the
Ellipse. Many places of interest will
be left for individual selection of the
guests.
7 to 11—Private view of exhibits.
New National Museum; music.
Ronte Taken by Visitors.
The route of the sightseeing tour
is as follows: Starting point. Sev
enth street wharves. Mount Vernon
boat, up Water street to Fourteenth
street, around w-est side of Bureau
of Engraving and Printing, through
park, Monument Grounds and Exec
utive Grounds, through Madison
street, east side of White House to H
street, through H street to Sixteenth
street, out Sixteenth street to Alaska
avenue, to Georgia avenue and Kal
mia street, enter Rock Creels Park,
through Rock Creek Rank to Zoo.
through Zoo to Jewett street and
Connecticut avenue, on Connecticut
avenue to Woodley road to Wisconsin
avenue, on Wisconsin avenue past St.
Alban’s Cathedra! to Massachusetts
avenue.
Down Massachusetts avenue past
United States Naval Observatory to
Twenty-third street, down Twenty
third stre.et to Q street and out Q
street to Thirty-third street, out Thir
ty-third street to M street, out M
street to Memorial Bridge, cross Key
Bridge to Fort Myer and Arlington
Cemetery.
Return byway of Highway Bridge,
through Potomac Park to Seven
teenth street past Bureau of Engrav
ing and Printing, up Seventeenth
street, past Navy Buildings. D. A. R..
Red Cross and Pan-American Build
ings to Ellipse, south of White House,
End of tour.
James C. Dulin, ex-president of the
local chapter, is in charge of the
day’s entertainment.
IMMENSE EXPANSION
IN GRAIN TRADING
Gain of 30 Cents, Per Bushel in
Wheat in Week—Crop Re
ports Cause.
Hr the Associated Press.
CHICAGO, July 19—Record-break
ing high prices and immense expan
sion of trading have been witnessed
this week in the grain and provision
business here. Indications that the
wheat crop in Canada might be less
than half of the yield in 1923 were
largely responsible. Compared with
a week ago, wheat this morning was
8% to 10% higher, with corn 5 to 7%
up. oats showing 1% to 3% gain, and
provisions at a rise varying from
40 to 90.
Much of the excitement among
grain traders arose from assertions
that as a result of drought and hot
winds the wheat crop outlook for
Canada was the worst in 20 years. A
tremendous rush of buying ensued
and an immediate Jump of 5 cents a
bushel took place. Then waves of
profit-taking sales and of new buying
succeeded each other day after day.
with price fluctuations so wide and
rapid that blackboard records were
frequently 1 cent or more at vari
ance with actual pit values. Mean
while foreign markets advanced even
faster than Chicago, and it was
pointed out that for the first lime in
many months grown in the
United States was in a position to
compete the world over.
At the crest of the advance in wheal
prices a gain of about 30 cents a
bushel was shown since the low level
some six weeks ago, and the volume
of transactions had multiplied mil
lions of bushels. Toward the close
of the week, however, drenching rains
in Canada were reported, and enthu
siasts whoh had been talking of $1.50
as a wheat price goal were at least
temporarily inclined to waver.
Corn and oats swung upward with
wheat. TempePhtures remained too
low for corn to grow well and re
ceipts were abnormally meager.
Provisions and hogs kept pace with
the extraordinary ascent of grain.
BUSINESS TURN SEEN.
NEW YORK, July 19.—Better crop
reports, higher prices in grain and
commodity prices and the rise in Se
curities on the stock exchange have
combined to produce an optimistic
outlook for an ear)y revival of busi
ness. The flood of money In the finan
cial district, some of which is being
sent Into New York by rural banks
that have thawed out their frozen as
sets has brought predictions of a pos
sible drop to 1% per cent in the call
loan rate which has been around 2
per cent for weeks. Improvement in
prices of farm products was said to
have caused an increase in the accu
mulation of loanable funds.
FLOUR PRICES EASY.
NEW YORK, July 19.—Flour-
Easy; spring patents, 7.40a7.80; soft
winter straights, 5.75a6.15; hard win
ter straights, 6.40a6.90. Rye—Easy;
No. 2 western, 95% f. o. b. New York
and 93% c. i. f. export. Lard —Easy;
middle west, 12.90a13.00. Other
tides unchanged.

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