The Washington times. [volume] (Washington [D.C.]) 1902-1939, December 29, 1923, Image 14

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The Washington times. [volume], December 29, 1923, Page 14, Image 14
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The Washington times. [volume] (Washington [D.C.]), 29 Dec. 1923. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn84026749/1923-12-29/ed-1/seq-14/>

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14
jIDVANCING WASHING
TON’S INTERESTS
STOCKS STEADY
INCLOSING
SESSION
Offerings Eagerly Snapped Up
and Resumption of Bullish
Movement Looked For.
By a J. DUIZEND.
(OpyrtKht. I»SL by Cosmopolitan Newa
Service.)
NEW YORK, Dec. 29.—Today’s
short session on the Stock Exchange
Was marked by Readiness. The mar*
ket again had to take care of a cer
tain amount of selling to establish
losses for taxation purposes, togethex
with the customary adjustment of
accounts in advance of the New
Tear’s holiday, kept constructive op
erations in check. Offerings, how
fever. were eagerly snapped up by
important interests who believed that
the turn of the year will witness a
resumption of bullish activities over
a wide area.
Publication of the details of Sec
retary Mellon’s tax reduction pro
posal and a more ’’cheerful tone of
the week-end trade reviews fur
nished the basis for a generally
firm opening. Sentiment was stimu
lated by the optimistic statements
given out by leading banking in
stitutions. Although a booming
period was not forecast, they all
appeared certain of a continuation
of good business with further ex
pansion during the spring months.
Oil shares displayed the strongest
tone reflecting the action of the
Magnolia Petroleum Company in
meeting the advance of 10 to 15
cents a barrel in the price of crude
in Oklahoma and Texas.
Further advances In gasoline prices
in Western districts gave additional
impetus to the forward movement.
Standard Oil of New Jersey rising
above 40, a new high on the current
upswing. Producers and Refiners
Was buoyant, while Marland was bid
«P on the news of the purchase of all
SC the Unissued treasury stock by a
prominent New York banking house.
Steel common assumed leadership
in the second hour, heavy buying or
ders carrying this issue to 99ft, a
new high on the moVe. Strength was
based on the bright outlook in the
industry, which appears to assure
the continuance of the extra divi
dend payments. The equipments,
motors, tobaccos, and leathers held
about their own, but chemcials were
tinder constant accumulation, ad
vancing moderately.
Signs that tax selling has run its
course was evident in the railroad
group. The Northwestern division.
Which was particularly sensitive to
this form of pressure in the last
two weeks, turned distinctly strong,
helped, no doubt, ty the favorable
character of incoming November
earning statements.
The market closed steady. The
bond list was steady. Lib
erty bonds were not materially
changed. St. Paul issues scored
further recoveries.
Mirm is
OPTIMISTIC ON
OUTLOOK
Letter Cites Economic Prob
lems to Be Faced in
Coming Year.
By CosmepeHtea News Sendee.
NEW YORK, Dec. 29. —The Me
dhanlcs and Metals National Bank,'
tn its monthly business survey, said i
today it sees cause for optimism
over the business outlook for the
coming year.
The letter, however, points out
several problems to be faced. In
the abundance of food and raw ma
terial, the extent of domestic buy
ing power, the readiness with which
the national wealth is responding to
development and the adequate man
ner in which the credit structure Is I
lending itself to every right demand,
the bank sees factors decidedly fa
vorable to business.
The problems to be faced Include
the “extremely high wages In many
Industries, the elevated plane of liv
ing costs, and the disproportionate
prosperity of our Industrial and agri
cultural sections.”
Foreign Bonds.
French 4s ............... 31
French 5s ......... 37
Premium 5s .. 45ft
British Victory 4s ....404%
National War Loan 5s 471
War Loan 5s 443 ft
Italian Notes 1925 46
Italian 6s 41
Belgian Res. 5s 36
Premium 5s 39
Capital
One Million Dollars
Continental Trust Company
14th and H Streets
HOME FURNITURE
LOANS
j BEAL ESTATE
From SSO to S3OO
COMMERCIAL LOAN
AND FINANCE CORP.
Uli Room 211, 92115th St. N.W.
| Local Stocks.
SALES.
Capital Traction Co., 10 @95.
Washington Gas Light, 10 @49;
6@49; 10@49; 10@49; 2@49; 10@
49; 10@49; 10@49; 2@49ft; 10@
49%.
After call—
Washington Gas 6s, ’33, ssoo@
100%; $500@100%; s3oo@looft.
Lanston Monotype, 10@7lft.
Metro. R. R. ss, $2,000@99ft.
Public Utility Bonds. | Bid. Ask\
Am. Tel. & Tel. 4s 92 %| 92%
. Am. Tel. & Tel. 4ft5.... 104 ft
Am, T. & T. C’t’l Tr. ss. 99 99ft
Am. T. & T. Convl. 65.. 118% 119
Anacostia & Potomac ss. 86 90
Ana. & Pot. Guar. 55... 86 90
C. & P. Telephone 55... 96 97
C. & P. Tel. of Va. 55... 93ft 95
Cap. Traction R. R. 55.. 94 95
City & Suburban 55.... 79ft
Georgetown Gas Ist 55.. 85 90
1 Metropolitan R. R. 55... 99 100
i Potomac Elec. Ist 55... 97
; Potomac Elec. Cons. ss. 97
Potomac Elec. deb. 65.. 99%
Potomac Elec. 6s, 1953.. 101% 101% ;
Pot. E. P. G-M & ref. 7s. 106 ft 107 ft
Wash., Alex. & Mt. V. ss. 25
Wash., Alex. & Mt. V. ctf. 24
Wash., Balto. A An. 55.. 70 71st
Washington Gas 5s 93% 94%
Washington Gas 65.... 100 ft 100 ft
Wash. Ry. A Elec. 4s. ..| 70 70ft
Miscellaneous Bonds.
D. C. Paper Mfg. 65.... 80
Riggs Realty 5s long).. 92
Riggs Realty 5s (short). 97 .....
W. M. Cold Storage 55.. 93 95
Wardman Park Hotel 6s. 99ft|
Public Utility Stocks.
’Am. Tel. & Tel 1125 [.....
‘Capital Traction 95 95 ft
Washington Gas 49 49%
•N. & W. Steamboat... 214 220
Wash. Ry. & Elec. com. 70ft 70%
Wash. Ry. & Elec. pfd.. 72% 72%
Terminal Taxi com 80 |125
National Bank Stocks.
‘Capital Nat. Ba.nk... .|230 1238
Columbia Nat. Bank.... 230
•Commercial Nat. Bank. 140 ’l5O
•District Nat. Bank.... 160 180
•Far. A Meeh. Nat. Bank.. 239
•Federal-Am. Nat. Bank. 193
•Liberty Nat. 8ank,.... 140 .....
•Lincoln Nat. 8ank..... 260
tNat. Metropolitan Bank. 253
Riggs NqX. Bank 293 300
•Second Nat. Bank 158
Nat. Bank of Wash |206 |219
Trust Company Stocks.
Am. Security & Trust.. . 296 310
Continental Trust 86 90
‘Merchants* Bank 128
Nat. Savings A Trust.. 365
tUnion Trust 160
Wash. Loan & Trust... .[350
Savings Bank Stocks.
Commerce & Sav. Bank. 1190
•East Wash. Sav. Bank. 20
•Sec. Sav. & Com. Bank. 275 .....
Seventh St. Sav. Bank.. 175
U. S. Savings Bank.... 300
‘Wash. Mechanics* Bank, 30
Fire Insurance Stocks.
American Fire Ins 210 .....
Corcoran Fire Ins 120 i
•Firemen’s Fire 1n5.... 18 ......
Nat. Union Fire 1n5....| 9
Title Insurance Stocks.
•Columbia Title Ins 7
Title 1n5..|125
Miscellaneous Stocks. | |
D. C. Paper pfd 75
•Merch. Trans. & Storage. 105
•Mergenthaler Linotype. 150 153
Old Dutch Market com.. Ift 4
Old Dutch Market pfd 5
Lanston Monotype 71 71%
xSecurity Storage 260
•Washington Market ... 42 .....
Yellow Cab Bft
£Ex. div. tl per cent exc div.
t 2 per cent ex. div. x 6 per cent
ex. div.
Short Term Securities.
(Furnished by W. B. Hibbs * Co.)
Aluminum Co. A 7s ’25[101%|102
Aluminum Co. A 7s *33 105% 106
Am. Cot. OH 6s ’24...... 99% 100%
Am. Sum. Tob. con 7fts 96 96%
Am. T. AT. 6s ’24 100 100%
Am. T. A T. Col. 4s ’2B. 92% 92 ft
j Amn. Thread 6s ’2B 101% 101st
Anaconda 6s *29 101% 101%
Anaconda Copper 6s ’53. 95% 96
Anaconda Cop. 7s ’38... 97ft 97%
L. S. A M. S. 4s *31.... 92% 92ft
Nat. Lea. 8s ’25 ».. 97% 98
Or. S. L. Ref. CoL 4s ’29 92% 92%
Phlla. Co. 6s *44 99% 99%
Sin. Co. Pur. sfts ’26... 97% 97%
Sin. Co. 68 ’26 97%
'Anglo Am. 011 7ft 8, ’25. 101% 102
iArmour & Co. 5%5, ’95.. 87% 87ft
B. & O. Ry., col. 6s, ’29. 100 ft 101
B. A 0., P. L. 3fts, ’25. 96% 97
B. & 0., S. W. div. 3fts. 96% 96%
Bell Tel. of Can. ss, *25. 96% 97%
Bell Tel. of Can. 7s, ’25. 101% 101%
Bell Tel. of Pa. ss, ’48... 97% 98
Bethlehem Steel 6s, ’48.. 97 97ft
Brad. Cop. M., col. tr. 6s 100 ft 101
Sloss Sheffield 6s, *29... 96% 97%
Solvay Bs, ’27 104% 104 ft
So. Pac., con. 4s, ‘29.... 92% 92%
S. O. N. Y. 7s, ’3l 106 108
S. O. N. Y. 6fts, ’33 105 ft 106
Swift A Co. ss, ’32 91 91st
jUn .Pac., con. 4s, ’27.... 95% 95ft
U. S. Rubber ss, ’47.... 85 85%
Vacuum 011 7s, ’36 106 106%
West. Electric 7s, ’31.... 106% 106%
Can. Nor. Ry. ss, ’25.... 99 ft 99ft
Can. Nor. Ry. sfts, ’24.. 100 100%
Can. Nor. Ry. 6s, ’24 100% 100%
Cen. Lea. Ist Hen ss, ’25 95 I 95%
Cudahy Pck. Co. sfts, ’37 85ft 87
Fed. Sug. ref. 6s, ’33.... 97ft 98
Hock. Valley 6s, ’24 99% 100 ft
K. C. Term. 6s, ’23 99% 100%
Kennecott 7s. *30.. |103%|103%
Oil Stocks.
(Furnished by W. B. Hlbbw & Co.)
I Bid | Ask?
Anglo-Am. OH Co., new.. 16ft 17
Borne-Scrymser Co 145 155
Buckeye Pipe Line C 0... 70ft 71st
Cheseborough Mfg. C 0... 235 240
Continental Oil Co 42 43
Crescent Pipe Line C 0... 15 17
Cumberland Pipe Line... 105 107
Eureka Pipe Line 99 |IOO
Galena-Sig. Oil Co. com.. 66 07
■ Galena-Sig. OH Co. pfd..|lo7 112
i Illinois Pipe Line C0....|139 140
Indiana Pipe Line C 0... 84 86
National Transit Co 21 21st
New York Trans. C 0.... 75 77
F Northern Pipe Line Co.. 90 92
| Ohio OH Co 70 70ft
(Prairie OH & Gas Co 240 241
Prairie Pipe Line C 0.... 103ft|104ft
I Solar Refining Co 167 1172
Southern Pipe Line Co.. 89 I 91
South Penn. Oil Co 156 153
Southw. Penn. Pipe L Co. 77 I 82
I Standard OH Co. (1nd.)... 65%| 66%
Standard OH Co. (Kan.).. 42%| 42%
Standard Oil Co. (Ky.)... 108 109
Standard Oil Co. (Neb.).. 230 240
Standard OH Co. (N. Y.). 46% 47
Standard OH Co. (Ohio).. 303 |307
Swan & Finch Co 36 38
Vacuum Oil Co 57% 58
■ Washington Oil Co 10 22
I Penna.-Mexicaa
I I 4
THE WASHINGTON TIMES • * The National Daily • • SATURDAY, DECEMBER 29, 1923. .
BUSINESS AND FINANCE
'WEEKLY HEW
IS HOPEFUL
Ifflll
Note of Confidence Felt De
spite Many Continued
Irregularities.
By Cosmopolitan News Service.
NEW YORK, Dec. 29. —Dun’s l
Weekly Review of Business said
today:
“Despite the continued Irregulari
ties in business, there Is a distinct
note of confidence In many quarters
as the yea* closes. Buying in some
. Industries, as in steel and lumber,
has taken on new vigor at a time
when an absence of important de
mand would not seem unnatural,
and there are signs of a turn for
the better in leather and footwear
markets. Although regular retail
distribution has been restricted by
exceptional moderate weather, re
sults of hoMday trade have disclosed
a large public purchasing power.
"The year now ending has been
unusual in various respects, with
unprecedented car loadings, an un
equaled pig iron output, a record
automobile production, and building
construction operations that have
had no parallel.
“There is now, as always at this
season, a slowing down In manufac
ture and In most other activities,
but the general feeling Is stronger
than it was a few months ago when
sentiment was affected by the reac
tion from the boom of the first
quarter.
“While prices of certain commodi
ties, notably cotton, still fluctuate
widely, the past year has brought
a further lessening of the insta
bility of markets, and the compara
tive few existing instances of un
settlement tend to encourage the
placing of future orders. The policy
of most Interests remains one of
buying for well-defined needs only,
but the conservatism which governs
nearly all commitments gives busi
ness a solid foundation.’’
CARTINGS
REAGH NEW
RECORD
R. H. Aishton Gives Figures to
Statistical Association
Meeting Here.
That 4,241,000 more freight cars
were loaded from December 31,
1922, through November, 1923, than
at any corresponding period in
history by American railroads, was
announced today by R. H. Aishton,
president of the American Railway
Association in an address to the
American Statistical Association at
the New Willard.
These cars, he said, would form
a train that would encircle the
earth and then lap over from Wash
ington to Bombay.
Declines to Prophesy.
Declining to make a definite pre
diction for the coming year with
regard to transportation, Aishton
said that some forecast must he
made by railways, but that a
definite prediction must await the
figures /or the first two or three
months of the year.
The forecast for 1923, made in
1922, he said, was within 2.3 per
cent of what the transportation
figures actually were.
"Railway freight traffic Is a
composite of the business activities '
of all other industries,”- he said.
"To arrive at a forecast of freight
traffic one must survey the whole
business field.’’
Factors which would enter into
the making of a forecast, he said,
are’ the growth of population, in
creased use of railways per capita,
and the continual change in char
acter and composition of railway
freight traffic.
1,000,000 a Week Loaded.
In announcing the .statistics of
freight loadings during the past
year, Aishton said that during nine
consecutive months the loadings
averaged more than a million cars
weekly, an unprecedented achieve
ment.
’ "The largest ‘number of freight
cars loaded in any week prior to
1923 had been 1,018,000, which
occurred in October, 1920, ’ ha raid.
"Only six times prior to 1923 had
the railways loaded more than
1,000,000 cars in any week. One
of our problems was to estimate
what the peak load of 1923 would
be.
"Using the basis of computation
outlined above, it developed that
the peak week this year would be
well in excess of 1,000,090. This
prospect was so greatly .n excess
of past experiences that we reduced
it to 1,080,000 in order to be safe.
"That our estimate waq conserva
tive is indicated by the fact that
our peak load was slightly in excess
of 1,097,000 cars or within less than
3.000 cars of our original estimate
of 1,100,000.
Foreign Exchange.
NEW YORK, Dec. 29.—Foreign
exchange opening:
IDemand.l Cables.
Sterling
Francs I .0512 .0512%
Lire 0433% .0433%
I Belgian francs... .0449 .0449%
i Czechoslovak 0292 .0292%
’Swiss francs 1747 .1749
Guilders .’. 3803 .3806
Pesetas 1296% .1298%
Sweden kronen... .2644 .2648
I Norway kronen.. .1463 .1467
Denmark kronen. .1771 .1775
Marks, four trillion to a dollar.
Would Issue Stock.
Application was made to the In
terstate Commerce Commission to
day by the New Orleans, Texas &
Mexico Railroad for authority to
.issue $1,500,000 of capital stock,
which is to be distributed among
‘stockholders as a stock dividend.
i
NEW YORK STOCK EXCHANGE
Quotations Received by W. B. Hibbs & Co.
Yea
High Low Close Close
Adv. Rumley... 10% 9% 10* 9%
Adv. Rumley pf 34% 83% 83% 33%
Air Reduction.. 67% 67% 67%
Ajax Rubber... 6% 5% 6% 5%
Alask. Juneau.. 1% 1% i%
Allis Chalmers. 46% 45% 46% 45%
A. ChemiDye. ZO% 69% 70% 69%
A. Ch. &D. pf... lU5< in ui%
A. Agr. Chem.. 13% 12% 13% 13%
Am.Ag.Ch.pf... <ts' x 43 44% 40
Am. BeetSug... 41% 41 41 41
Am. Bosh 36 35% 36
. Am * Can 105 104% 104% 104%
Am. Cot. OH pf., 31% 31% 31%
Am. C. Op. ct. 10% 10% 10% 10%
Am. Cot O pr’ets 31% 31% 31% 31%
Am. Chain A..., 23% 22% 23%
Am. Chicle..... 17% 17% 17% 16%
Am. Express... 91 89% 91
Am. Hide & L... 9 9 9 gjj
Am. H. AL. pf.. 51 to 'sl 50%
Am Ice 85% 84% 85% 85
Am. In. Corp... 23% 22% 23% 22%
Am. Linseed.... 17% 17 17 17a
Am. Lins. pf... 34 34 % 33%
Am. Loco 75% 75 75 75
Am. Metal..... 42% 42% 42%
Am. Rad. C 0.... 95% 95% £5% 95
Am. Sfy Razor.* 6% 6% 6% 6%
Am. S. A Com... 10% 10% IQ%
Am. Smelting.. 53% 58% 58% 58%
Am. Steel Fdy.. 38% 38 38 38
Am. Sugar 55% 55% 65% 56%
Am. Sug. pfd... 96% 96% 96% 93
Am. Sumatra... 20% 19% 20% 20%
Am.Su.T.pf... 5j to 60 50
Am. Tobacco... 148% 148% 148% 148%
147 X 147 X M7X U7 *
S b-New.. 10i% 101% W i% W1
Am. Wat. W. 6s 66 65% €6 67
73X 73 73
’ P -- 2X 2X 2X *
Im 5 nc ’•;•••• 8X 7X 8X 7 *
Am. Zincpf...., 29 28 29 28
Anaconda 36%
92X
Arnold Con. Co. 13 13 13 12%
Asso. D. Goods.. 76% 77% 78% 79%
Assoc. Oil New. 29 28% 28% 28%
Atchison 96% 96% 96%
Atchisonpf...., 86 86 66 85%
A.G.4W.1..,. 17% 16% 16% 17%
A.G.&W.I.pf.„ 14 13% 13% 14%
Atlantic Fruits 1% 1% j% j
Atl. Coast Line. 113% 112% 112%
Atlantic Refg.. 131% 127% 131% 127
Atlas Tack..... 9 7% 7% 9
Austin Nichols. 28% 28% 28% 28%
Auto-K. H 05.... 7% 77
Baldwin Loco.. 125% 124% 124% 125%
Balt. A 0hi0.... 58% 58% 58% 58%
Balt. & Ohio pf. 53% 68% 58% 59
Barnsdale "A”., 15% 15% 15% 15
Beechnut 56 55% 55% 56%
Beth. Steel 53% 53% 53% 53%
Beth. Steel 75... 90% 90% £Q% 91
Booth Fisheries 6 6 6 5%
Brooklyn Edi... 109% 109% 109% 110
Brook. Marsh. 14% 13% 14 13%
Brook. Man. pf. 49% 47 *9% 46%
BklynUn. Gas. 116 116 116
Burns Bros. A.. 102% 102% 102% 102%
Burns Bros. B 23% 23% 23% 23%
Butterlck...... 18% 18% 18% 19
Butte Copper... 5 5 5 5
Butte & Sup... 15 14% 14% 14%
Caddo Oil 2 1% 1% 1%
Calif Packing.. 60% 60% 80% 80%
Calif. Petrol.... 26% 26 26 16%
Callahan 4% 4% 4%
Calumet & Ar. 43 43 43 42
Cal. 4Hec..... 18% 18 18%
Canadian Pac... 147 145% 147 145%
CaseP.Wks..., % % % %
Cent. Leather.. 13% 12% 12% 12%
Cent. Lea. pf.. 37% 36% 37 36%
C.RANJ 205 £OS 205
Cerro de Pasco. 45% 4b% 45% 45%
Chandler Motor 67 66 67 66%
Ches. A 0hi0... 70 69% 70 69%
C. A O.pf 99 99 ‘99 98%
Chi. A A1t0n.... 3% 3% 3% I
Chit A Alt. pf. 10 9% 10 9%
C. AE. 111. R.R. 25% 25% 25% 25%
C. AE. 11l 2d pf. 49% 48% 49% 49%
Chicago Gt. W_ 4 4 4 4
Chi. G. W. pfd.. 10% 10 10 10%
C., M. A St. P... 13% 13% 13% 13%
C..M.AS.P. pf..: 23% 22% 23% 23
Chi. AN. W.... 50% 49 49% 4 %
C. & N. W. pf. 99% 99% 99% £5%
C..R.LAP.... 22% 21% 22 21
C., R. I. AP. 6s. 64% 64 64% 64%
C. R. I. AP. 75.. 76 76 76 75
Chino Copper.. 17% 17% 17% 17%
Cluett Peabody 72% 72 72% 70
Coco Cola .... 76% 74% 76 75
Col. Carbon... 60% 50 60% 50%
Col. Fuel 26% 26% 26% 25%
Col. Southern.„ 19% 19% 19% 19
Comput. Tab... 97% 96 96 97%
Copgoleum Inc. 44% 44 44% 45
Con. Can w. 1... 66% 56 56% 15%
Con. Gas. new.. 61% 61. 61% 61
Con. Gas. w. L 35 34% 35 36
Cont. Motors... 6% 6% 6% 6%
Con. Tex. Cor. 6% 6%' t% 6%
Corn Products.. 155% 153% 155% 174
Corn Prod pf... 119% 119% 119% 120%
Cosden Corp.... 36% 35% 36 36%
Cosden Co.pf... 92% 92% 92% 92%
C. Cigar Corp.. 19% 17% 19% 17%
Crucible Steel.. 68% 67 67 67
Cuba Am. Sug.. 36 33% 33% 34
Cuba C. Sug.... 15% 15% 15% 16%
Cuba C. S. pf... 63 62 62 64%
Cuba Dom. Su.. 6% 6% 6% 6%
Dav’nC’lCo..., 71 63% 71 70
Lei. & Hud 108% 108 108% 103
Del. L. AW.... 112% 111% 112 111%
Dome Mines.... 1%
D. Pdd. Wks..., 130% 129% 129% 128%
Douglas Pectin. 11% 11% 11% 1%
Eagle Oil 27 26 27 26%
Eat.AxleSp.Co. 23% 23 23 23%
End. John 64% 64% 64% 64%
Elec. Storage... 60% 60% 60% 6) 4
Elk H. C0a1.... 12% 12% 12% 12%
Emer. Brant.... 1 % 1
Erie 21% 21% 21% 21%
Erie Ist pf...... 29% 21% 29% 29
Erie 2d pf...... 25 25 25 25%
Fam. Players... 71% 70% 70% 70? i
Fam. Play. pf.. 88% 88% 88% 83%
Fed. M.&Sm... 9% 9% 9%
F. M.ASt. pf... .41 41 41
Fifth Av. Bus. 9% 9% 9% 9K
■
High Low Clom Close
Fisk Rubber. 8% 1% 8% 8
Flelsh. Y. C 0... 44* 44* 44* 44%
Fre. Tex. Co.. -12% n% 12 12*
Gen. Asphalt... 40% 40* 40* 41
Gen. Electric. 197* 195* 196 196
G. A. Tk. Car... 43* 43 43 43
Gen. Elec.Spec. 10 10 10 10*
Gen. Motors.... 14* 14* 14* 14*
Gen. M. deb. 7s. 99 99 99 98*
Gen. Refractrs. 53 52* 53 52*
Glmbel 8r05..48* 47* 48* 47*
Glidden Co 8* 8* 8* 8*
GoldwynPlct.. 8* 8% 8* 9*
Goodrich 8.F... 22* 21* 22 22
Goodyear T. pf. 3.% 39% 39% 38*
Granby Mines 14% 14% 14% 14%
Gray A Davis 7% 77% 6%
Gt. Nor. Ore... <B* 28* 28* 28%
Gt. North.pt... 53% 62% 53% 52%
Gt. W. Sug. pf .. 105% 105% 105%
Greene Copper. 14* 14 14% 14
Gulf State Sti.. 63% 83% 83% 83%
Hartman new.. 40% 40 40% 40%
Hayes Wheel.. 40 40 40 40%
Houston 01L... 72 73% 71 69%
Household Pro. 34* 34% 34% 34%
Hupp Motor... 15% 15% 15% 15%
in. Central... 101* 100% 101 100
Ind. Refining.. 4% 4% 4% 4%
Indiaho Rfg.Co. 1% 1% 1% 1%
Ind. Oil A Gas... 6% 6% 6% 7%
Insp. Copper..• 24% 24 24 24%
Inland Steel.... 35% 85%. 35% 35%
Int. R, T. C 0... 12 11% 12 U%
Inter. Agri.... % %% %
Inter. Agri. pf. 6% 6% 6% 6%
In. Co. of Eng.. 24% 14% 24% 24%
Inter. Cement. .43 43 43 42%
Inter. Harvest.. 77% 76% 77% 75%
Inter. Nickle... 13% 13% 13% 13%
Inter. Paper.. 37% 37 37% 37%
Inv.Oil 17% 17% 17% 17%
Iron Products. 51% 50 5C% 50
Iron ProcT. ctfs.. 51 47% 49%
J. Kayser Co. •• 36% 34% 34% c 5%
Jewel Tea 22% 21% 21% 21%
Jones Tea 23 22% 22% 23%
Kan. City So..- 18 17% 17% 18
Keystone Tire.. 3 2% 2% 2%
Kelly Spg. Tira. 32 31% 32 33
Kennecott....« 33% 33% 33% 33%
Kinney A C 0..« 59% *69% 59% 5 %
Lee Rub. AT... 14 13% 14 13%
Lehigh Valley.. 59% 59% 599 i 59%
Lima L0c0..... 66% 66% 66% 66
Loew's (1nc.)... 17% 16% 17% 17%
Loft (Inc.) 6% 6% 6% 6%
Lgrillard. .7.... 169% 165% 169% 169
Louis. A Nash.. 88% 88 88% 87%
Mclntyre 17% 17% 17%
Mach Truck.... 91 90* 90% 90%
Mann M. G..... 29% 28% 29% 29 z
Man. Elec. Sup. 37% 37* 37% 37
Manhat. Gtd... 39 38% 39
Manhat. Shirt.. 42 42 42 42%
Manati Sugar. . 62 62 62 62
Marine 6% 6% 6% 6
Marine pfd £9% 23% 29% 29
Market St. Ry.. 12% 12% 12%
Mart. Par. Co.. 35% 35% 35% 36
Marland 0i1.... 39% 88 38% 38%
Maracaibo Oil.. 27%‘27 27% 26%
Max. Mot. A.... 49% 49 49 49
Max. Mot. C. 8.. 13% 13 13 k l 3 «
May Dept. St... 91 90% £O% 91
Mex. Sea. Oil. 15% 15 15% 15%
Mex. Sd. Oil ctf. 14 13% 13% 14
Miami Copper.. 21% 21% 21% 21%
Midvale Steel.., 28% 28% 28% 28%
Mid States Oil.. 6% 5% 6 6
Min.A St. Lou is. 1% 1% 1% j
M. S. P. AM..., 42 -42 42 42
Mother Lode... 8 8 8 8
Mo. Kan A Tex.. 11% n% U % n %
M. K.AT. pf. A. 30 29% 30 30%
Mo. Pacific 9% 9 9 %
Mo. Pacific pf...; 28 27% 28 27%
Moon Motors... 25% 25% 25% 25%
Mont’y Ward... £4% 24 2 4 24 J
Munsing-wear.. 35% 35% 35% 55%
Mui. Body Co.. 12% 12% 12% 12
Nat. Acme 7% 7 %
Nat. Biscuit.... E2 51% 52 51%
Nat. Biscuit pf. 123% 122% 123%
Nash Motors.... 98* 98* 98* 98*
Nash Mo. pf A.. 97 96* 96% 97%
NU.ofM.2dpf. 1% 1%
N. Dept. Stores. 40* 40 40 41
Nat. En. & st... 40% 40 40 40%
Nat. Lead 143% i 4 2% 143 143%
Nev. Con Cop. 11% n % n %
N.O.T.&Mex... 95% 96* 953? 95
N. Y. Airbrake. 41 41 41 41
S' S e " tral • • • 104 * w< 104 !C4
N.Y..N.HAH.. 14* 13% -< J 4
N. x .c. & st. L. 77 77 77 77
N. Y. A St. L. pr 86 86 86 86
North Amer... 22% 22% 22% 22%
North Pacific.. 52% 51% £2 % ”2
Nor. A West... IC4 102% 104 102%
Ok.Pr.ARf.Co.,
Orpheum Cir... 18 % w
Otis ElevatorNl 142 141 142
Otis Steel 9 % g
Otis Steel pfd.. 53|| 58 58 §8
Owens Bottle.. 43% 43% 43% 44
Pac. G. A L.... 9 3 99 93
Pacific Oil Co.. 51% 50
Packard Motor) 12% 12% 12% 12%
Pan. Am. Pet.. 64 63% 64 62%
Pan.Am.Pet. B. 61% 61% 61% 61%
Par. A Bing 13 12 % 12 % 13
Penn. R. R 42 41 % 42
Pa. Sea. Steel.. 3% 2 %
Peo.Gas.Chl.. 97 % 97 % 97}<
Pere Marquet.. 41% 40% 40% 4]
Phil. Mor. Inc.. 20% 20% 20% £(%
Philips Pet.... 54% C 4 34%
Phila.Coal 42% 42% 42% 42%
Pitts. Coal pf... 98% 98% 99%
Phil. Coal 65... 41% 41% 41 %
Pierce Arrow.. 9 8% 8% 8%
Pierce-Ar. pf... 2 7 2 6% £ 7 26 %
Pierce Oil 2% 2% 2% 2%
PferceOil pf... 23% 23 23 23*
Pitts. W. Va.... 37% 37% 37%
Postum Cereal. 56% 56% 56% 56%
Pres. Steel Car. 61% 51* 51% 52
prod. & Ref.... 38 36% 38 36%
P.Ser.Cor.N.J.. 42% 41% 41% 42%
Pub. Ser. 85.... 100% 100% 100% 97%
Pullman P. Cal. 123% 122% 123 123%
Punta Al. Sug.. 58 57 57 58%
Pv .re Oil 24% 24 24 24%
luy Con. C. Co. 11% 11 11% 11%
fading 77* 77* 77 * 77%
Reading IM.— 63% 62% 52%
NEW FINUNCING'
SEEN II BOND
■NET
Issues Retain Strength De-;
spite Tightening of
i Money Rates.
By MUNROE ROBERTS.
(Copyright. 1923. by Cosmopolitan
News Service.)
NEW YORK, Dec. 29.—1 n spite
of a tightening tendency of money
rates, the bond market maintained
a fair degree of strength during the
past week.
Indifference to the higher cost of
credit was* due to the conviction
that this was only a temporary
condition caused by the necessity
of making preparations for' huge
year-end settlements. It was the
consensus of opinion that money
rates will turn sharply downward
after the beginning of the year and
the market will become active due
to the customary January reinvest*
ment demand.
The outlook for new financing
was considered bright. With am
ple money reserves on hand, invest
ment bankers were reported to De
preparing the flotation of about
1300,000,000 in new securities dur
ing next month. Some of the larger
units in this total ,are the Argen
tine government and some railroad
financing projects. “
The probability of a loan to
Persia was also discussed following
the rumor that the Sinclair interest
had obtained the Persian oil land
concessions, but no definite in
formation was obtainable. That the
amount of capital available for in
vestment is still very large was evi
denced by the comparatively heavy
financing brought this
normally dull week, aggregating ap
proximately 142.000,000, compared
with $69,000,000 the previous week
and $25,000,000 in the second week
of December.
Read. 2dpf...., 52% 62% 62%
Remington.... 32* 32* 32* 33
Rep. I. AS 51* 51 51 50%
Repl ogle Steel.. 11 jo% 10% 11
R. Dutch N.Y.. 48% 48 48 49
Reynolds Spr..i 20% 20% JO% 20*
Reynolds Tob.. 73% 73% 73% 73%
St. Jos. Lead... 23|| 23 23 23
Savage Arms.. 32% 32% 32%
Sea. A. L. pf.... 13* 13* 13% 13%
St. L. AS. F..., 18% 18* 18% 18*
St. L. S.W 32% 32 32% 32
St.L.AS.W. pf.. 57% 57 57% 57*
Shat. Arts. Con. 6% 6 6* 6
ShellT. AT.... 32% 32% 32% 32%
Schulteß. 5.... 107% 107 107 108
Sears-Roebuck. 86% 66% 86* 86%
Seneca Copper. 5% 5% 5% 5%
Shell Un. 0.... 17% 16% 17% 16%
Simms Pet..... 11% 11% 11% 11%
Simms Co 23% 23% 23% 23%
Sinclair 0H.... 27% 26% 27 26%
Sinclair Oil pf.. 85% 85% 85% 85%
Skelly Oil 25% 25 25% 25
Sloss Sheffield. '62 61% 61% 61%
Southern Ry... 37% 37 ?7* 37%
South. Ry pf... 66% 66% 66% 66* .
South. Pac ,87% 87 87% 16%
S. R.Sug. 68% 67 67 68%
Spicer Mfg. Co. 15% 15% 15% 16
St. Oil of N. J... 40% -9% 40 59%
St. Oil N. J. pf.. 116% 116% 116% 116%
St. Oil of Cal... 63% 6?% 63% 63%
Studebaker.... 107% 106% 107% 106%
Sterling Prod.. 61% 61% 61%
Stew. Warner.. 90% £0 90% 90%
Stromb- Corp.. 80 79% 79% 80
Submar. Boat.. 12 11% 12 11%
Sweets Co 3 2% 2% 3
Tenn. C0p...... 9% 9 9 9%
Texas Co 43% 43% 43% 43%
Tex. A Pac 19 18% 19 18%
Tex. P. Co. AO. 10% 10% 10% 10%
Tex. Gul. Sul... 61% 61% 61% 61%
Tobacco Prod.. 70 69% 69% 69%
Tob. pf.A 89 89 89 89
Third Ave 9 8% 8% 8%
Tidewater Oil.. 122 121% 122 120
Timken Rol. 8.. 39% 39 39% 38%
Transcon. 0i1.., 3% 3% 3% 3%
Under’d Type. • 40% 39% 39% 41
U. Realty 1m... 101% 98% 101% -97*
United A110y... 31 SOX <o* 31
United F00d... 3% 3 3% 3
U. Bag A Pap.. 62% 62% 62%
Union Pacific.. 129% 127 129% 127%
Union Pac. pf.. 71 7U* 71 71%
U.S.C. 1.P...- 68 66% 67% 67%
U.5.C.1.P.pfd.85 84 E4% 84%
U. S. R.lm. pf.. 104 103 104 102
U. Ry. Invest.. 10% 10* 10% 11
U. S. Ind. Alco. 71% 70% 71% 71
U.S. Rubber... 37% 37% 37% 37%
U.S.Rub.lst pf. 88% 88% 88% 88%
U.S. Smelt 19% 19 19% 29
U. S. Steel... 99% 98% 99 98%
Utah Sec , 16% 16% 16* 16%
Utah Copper... 64% 64% 64% 63%
Van Raalte.... 28% 27% 27% 29%
Vanadium, Inc. £O% 29% 30% SO*
Va.-Car. Chem.. 9% 9% 9% 8%
Va.-Car. Ch. pf. 31% 31% 31%“*31%
Vivaudou...... 14% 14% 14% 14%
Wabash R.R... 10% 10% 10% 10%
Wabash pf A... 34% 34 34% 34*
Web. Heilbron.. 15% 15% 15% 15%
Wh. &L. E...., 7% 7% 7* 7%
W. AL. E. pf... 14 14 14 13%
Westinghouse.. 62 61% 62 61%
West. Union... 107% 107* 107* 103
Western Md... 9* 8% 9% 8%
West. Md. 2d... 16% 16* 16* 15*
West. Pacific.., 14% 14* 14% 15%
White Motor... ts* 55* 55* 55%
White Oil Corp. % % % %
W.W. Sp. 5t.... 2% 2% 2% 3
Willys-Over.... 10%' 10 10* 10%
Willys-Over, pf. 61 79% 80% 80%
Wilson Co 25% 25% 25% 25%
Wilson pfd 69 69 69 69
Wiscon. Cen.... 37% 35 37%
Worth. Pump. 24% 24% 24% 25%
Wrigley’s * 58% 39% 39%
Wright Aero... ±3% -13% 13%
Stocks sold to—
-11 a. m. 12 noon. Ip. m. 2p. m.
378,500
Bonds sold to—
11a.m. 12 noon. Ip.m. 2 p.m.
2,965,000 1
Curb Stocks.
(Purnlshed by W. B. Hibbs A Co.)
. . s .. , . j BiA | AiSa
Acme C0a1........ 1
Arkansas Nat. Gas 4% 5
Borden Co. 121% 124
Butte find Western..... 25 30
Candelaria 2 3
Carib. Svnd 5% 5%
Car Ligift and Power... 2 4
Centrifugal Cast Iroja..'. SO* 31H
Cities Service, hew 14% 14%
Cities Service, old 140% 141%
Cities Service, pfd...... 67% 88
Davis Daly 3% 4
Dubllier 11* 11%
Durant es Delaware 30 30 H
Durant of Indiana 7% 8%
Engineers Petroleum.... 5 6
Eureka Croesus 11 13
Federal Oil 57 so.
Fortuna Mining 7 3
Gillette Safety Rasor.... 278 280
Glen Alden Coal 78* 77
Glen Rock Oil 30 40
Goldfield Deep Mines... 8 7
Goldfield Florence ..... 42 44
Goodyear T. AR- 8* 9
Gulf Oil of Penn 59* 81
Heyden Chemical 1* 1*
Hudson Oil 5 8
Indepbndence Lead .... 15 18
Intercont. Rubber 8* 3*
Internal. Petro., new.?... 21* 21*
Jerome Verde ,j 2
Lyons Petroleum 88 45
Mammoth Oil 51
Marland Oil of Mex 4*l" 4%
Mason Valley 1% 1*
Mesabi 7* 8
Mexico Oil 30 35
Mountain Producers 17% 17%
Mutual Oil -.... 12% 18
National Tin 12 14
New Fiction Pub........ 1 2
Nevada Ophir 7 10
New Cornelia ........... 16% 18*
Nipisslng Mines 8% 8*
Ohio .Copper ........... 78 81
Omar Oil 78- 78
Pennock Oil 13 18*
Pyrene Mfg. Co 10% 11*
Radio com 4% 4%
Radio pfd 4
Reo Motors 17% 17*
Salt Creek New... 21* 21*
Sapulpa com 80 90
Southern Coal A 1r0n... 14 18
Stutz Motors 8 8%
Tidal Osage .' 7% 9
Tonopah Divide 87 40
Tonopah Extension 1% 1%
United Eastern 91 94
United Profit Sharing... 7* 7%
United Shoe Machinery. . 33 34*
United Shoe Mach. pfd.. 24 27
United Verde 27 27%
United Retail Candy.... 5 5%
Wayne Coal 50 60
West End Cons 57 60
Wilcox OU A Gas 6% -6%
Yellow Taxi of N. Y.... 36% 37%
WOOLENWCES
TO BE GIVEN
. BOOST
American Company to Raise
Them 10 to 12 Per Cent
About January 15.
By CoamepelttM News Sendee.
NEW YORK, Dec. 29.—The Ameri
can Woolen Company’s prices for
its 1924 fall lines of woolen and
worsted will be from 5 to 12 per cent
higher, it was learned today. The
lines will be opened about Janu
ary 15., . ’ -
Company officials lay the neces
sity for the increase to higher raw
wool prices and advances in wages
of mill operatives.
It was admitted by company offi
cials that the woolen industry and
allied garment trades have just
passed through one of the most
disastrous seasons in the history of
the industry. The unseasonable
weather retarded the movement of
fabrics and finished articles. As a
whole the trade was said to have
weathered the stormy period weU
enough.
In view of the general uncer
tainty reigning in the wool indus
try, and the frequent reports that
prices would go lower leading trade
interests believe the price raise by
the American Woolen Company, the
largest of Its kind in the country,
will tend to stabilize the market.
In department four of the Amer
ican Woolen Company, prices on
four Unes probably will be from
ten to thirty points higher. This
department, which produces wom
en’s wear fabrics, is reported to
have done $25,000,000 business this
year. An Increase of 310,000,000 in
the coming season was predicted.
N. Y. Cotton Market.
NEW YORK, Dec. 29.—Cotton fu
tures were steady at the opening to
day, prices being from unchanged to
15 points higher in response to firpi
Liverpool cables.
January opened at 35.15, un
changed; March at_ 35.80, up 16
points, and May at up 9 points.
I 111
W. B. HIBBS & CO.
MEMBERS
NEW YORK STOCK EXCHANGE
BOSTON STOCK EXCHANGE
PHILADELPHIA STOCK EXCHANGE
WASHINGTON STOCK EXCHANGE
NEW YORK COTTON EXCHANGE
CHICAGO BOARD OF TRADE
NEW YORK CURB MARKET
HIBBS BUILDING
725 15th Street Washington, D. C.
' ' z ' • y’**£*'■’’■s&’.? H
LATEST NEWS OP
FINANCIAL WORLD
STOCKS CLOSE
STIOISEIST
OEM
I Steels, and Oils Show Decided
Advance During Week.
Franc Falls.
By it » COUSINS.
(Copyrigtit. IMS. by Coomopolttaa
Nmti Service.)
NEW YORK, Dec. 29.— The stoett
market was unusually active an 4
buoyant in the last week, of 193a
tn contrast with the closing wets
of either of the last two years.
1 It differed from the final sctivt
sessions of 1920, since the speculat
tlve leaders were then in the last
1 stages of a distressing downwax*
’ ihovement, whereas in the prwnL
week prices had a distinct upwarj
trend. There was little tax selling
or pool liquidation this week, tht
1 bulk of market activity being in th 4
• acquiring of new commitments by
professionals and outside trader*,
Stee| Rises, |
The steel stocks led the way
higher prices both before and attsfl
the Christmas holiday. In activM
transactions. United States StMp
t rose thfee points in one session,
1 followed at no great distance by
Gulf States, Bethlehem, Republic
Sloss-Sheffield and Iron Product*
t While part of this gain was lost
t by subsequent profit-taking, the
1 steel shares on the whole flnlslwd
r the week on a' higher price plane,
- The demand for steel stocks was
. based on the extremely favorable
industrial summaries by authorities,
pointing out the great
j market for steel products next yeara
for foreign as well as home de-|
mand. Estimates of contemplated
t activity of the building and auto
motive industries, large users of
, steel, doubtless exerted a
i wise influence.
Oil Ust Gains.
Next hi importance was the horL
1 zontal advance in the prices «f
crude oil in all Important producing
fields, extending from California to
' mld-contlnent, and thence to tbs
I Texas and Eastern areas.
The last advance in Pennsylvania
I crude oil restores, to within a
| gin of .25 cents, the price obtaining
prior to the successive price cuts
between March and September.
The principal oil stocks, both in
the Standard and the : ndependent
groups, on the curb and in the
listed market, as a class, sold at
the highest level on the present
movement. Gains of from two to
five points in one session were not
infrequent, and profit-taking
tions comparatively mild. The ban-'
ishment of Southern States Oil,
( stock, in which many investonu
were interested, from the curb eafl
change, was laid to purely specfl
Native manipulation in the issue. Bl
Autos' Gains SHgM. j
Active railroad, industrial and!
specialty stocks only held theirfl
’ ground under a fairly heavy veil
ume of offerings. The motor stock™
under the leadership of Studebakeii
and Willys-Overland preferred, par
ticipated in a modest manner in the
• forward swing of the market. _
These was considerable activity
in other speculative and futunuk
markets, in. which the principal d4W
’ velopments were a further advance!
1 in cotton prices; a decline in the
French franc to below 5 cents
-for the first time in history; a
I short flurry in the call money mar
t ket, bringing borrowing rates tem
i porarily to 6 per cent, and an active
; and steady investment market, with
> good demand for the new municipal
t and State issues. Forecasts of the
l business outlook expressed the con-
> fldenCe of business leaders for a J
I continuance of general prosperity
next year. _ *
Chicago Grain Market. J
1 CHICAGO, Dec. 29 —Grains opened)
’ generally higher today.
r Wheat started unchanged to %
' cent higher, with buying by a lead-j
’ ing commission house and
• scattered. Trade light.
Corn started % cent lower to %
1 cent higher, with the December
1 showing the advance. May was of
’ sered at a decline, but quickly r*l«
' lied, with buying by a prominent
’ house.
5 Oats started steady to % cent
1 higher, with a small trade. .
At Liverpool wheat closed the
short < Saturday session %d. higher
to Id. lower. Here opening price®
. were:
Wheat —December, sl.Ol May,
> 31.06% @1.07; July, 3108%.
t Corn December, 70* @% centg|
May, 73%@% cents; July, 74*0%
. cents.
i Oats—December, 41% cents; May»
, 45 cents; July, 42% cents.

The Washington times. [volume], December 29, 1923, Page 14, Image 14
About The Washington times. [volume] (Washington [D.C.]) 1902-1939

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The Washington times. [volume], December 29, 1923, Page 14, Image 14
About The Washington times. [volume] (Washington [D.C.]) 1902-1939