The Birmingham age-herald., 1923-02-21
Little Market Flashes

!. 2 SAN FRANCISCO, Feb. 2O,--The South- ern Pacific company and the Western Pa eific railroad announced here today that reduced rates would be- put into effect inn mediately for more than 100 articles from Chicago and points west to Pacific coast points as q means of competing with water freight rates via the Panama canal. In the of the Southern Pacific com pany, the announcement said, the reduc tions also would apply from New York on combination rail and water freight via the Southern Pacific steamship lines to gulf points and by rail to this coast.
 NEW YORK, Feb. 2O.-The Western Union Telegraph compeny today distrib- uted to 35,0o0 of it's 54,O00 employees ,I,775,000, representing 50 per cent of it's 1922 earnings on it's investment in excess -of S11,500, 900. The award isr equal to 47 1s per cent of each employees salary for the eeived a flat payment of ST .50 each. The company inaugurated the income partici pating plan in 1920.a No award was made earn any return in excess of the stipulated amount at which bonus awards were to be made.
 NEW YORK Feb Fostering ex- change mounted to another new high rec, at S4. 70 13-16, This represents an oyer night advance of nearly cent and is the highest st rate sns9 m hs in March, 19l9 The normal or par rate is s4.S6ss.
 tNBW YORK, Feb. 2O.-The, New York curb market today announced formation of clearing house to be in operation by Ap an o} n ts w be similar to that now employed by tue New York Stock and Consolidated ex- transaction is competed by comparison tween the two brokers at their respec- tl.e 5f1'csrs pecessitating extensive de- sse.sin is ssnec.ed to expedite deliveries reduce the oyaI cad and lessen the amount of monsy required to finance the daily cents pei. 100 shares cleared in and out.
 WASHINGTON, Feb. 2o.-Approval was given today oy the interstate commerce tom issiou Co the Southwestern Bell Tele- phoue coa.psny's project to purchase the entire kn.lo h telephone system located in and around St. Louis. The Bell company will pay s140.00O in cash and $4,2o0 900 in ' per cent preferred stock and vii las sume s5,500,O0o in bonded and other in- debtedness for the properties
 DIVIDENDS DECLARED
 NEW YORK, Feb. 20.--Middle States Ofi,coil,pany today declared regular cash dfSfdends of per cent monthly for Janu- ary, February and March. announclng at ments by subsidiaries.
 Imperial oil, the announcement said. has declared a regular quarterly divl- dend of 2H per cent on the common stock. an extra dividend of ne-half of per cent oh a regular quarterly dividend of per cent on the preferred stock. Texas Chief Oil Dominion Oil and Ranger (TeX.) Oil also subsidiaries, each declared reg . ular duartery dividend Of 2 per cent, plus an extra dividend of 1 per cent
 The Consolidated Gas company or New York declared a regular quarterly divi- dend of 50 cents ton the common stock, and the Hayes Wheel company voted the regular quarterly dividend or 70 cents on the common stock.
 CHICAGO VEGETABLES
 ss5sr-4ssd, Feb 2o.-Sweet potatoes cel- at-s n, ss~oynatoes unchanged. Spinach W as s,t-htfy weaker; Texas bushel, curly slY 1Ie, few at sl.25: Louisiana barrel. $4.oo mb strawberries and cabbage unchanged.
 Auction in fruits Monday follows: f.o-lda grapefruit; Brights. large, S3Q 50 medium, S3.10@4 4.40; small, sac 3S5. .-t5sags large $2.25 @4.35; medium $3V 40; slaaii, S2.76eD425. eussets,, large s2@4.25; medium. s2 = 4.SS; small sa'So Florida oranges: Brights, large. sS.2s@ 20: medium, s4@4.95; small, S4Vo; lV: |Goldens. large, S3.25 4.35; medium s9.oo "a 5.10; small, sS.5o 5.1o; Russets' large a,, $3.65@4.65; medium' Ss'1o~''-'' S4.40@5.4o. s.0Aoo.s snall a aS@S'7b; goidens. medium. SS.5o@3.1o; small S9,05 G8.5o.
 s.ss ess B, HORSES AND. MULES
 HAST ST. LOUIS, Ills. Feb. zV-horses and mules steady unchahseo