davidaulloa/AmericanStories huggingface dataset:
Evening star., 1924-05-14
u. S. MOTOR CAR COST
IN EUROPE DECREASED
Agents Drop Prices 20 Per Cent,
Anticipating Removal of War
Time Duties.
By Radio to The Star.

BY Radio to The Star.
LONDON, May 14.-Agents of Amer
lean motor cars in the United King
dom today reduced prices of their
cars 20 per cent, in anticipation of
the removal August 1 of the war
time duties.
During the past four years Ameri-
can cars shipped to England were
taxed 33 per cent of their value, max
ing their price here seem exorbitant.
as compared with the prices ruling
across the Atlantic. Removal of the
duties in August was decided upon
following a debate in the House of
Commons, which revealed this coun-
try's deep-seated belief in free trade.
The Liberals and Socialists combined
against the Conservatives in their
duties.
Socialist Majority, 65.
When the final vote was taken the
jority of IS. thus sustaining it's de-
cision to allow motor cars. fabrics,
gloves. glassware, clocks and watches
to come into the United Kingdom
from other countries duty free.
Little Importance is attached to
removal Of the duty on gloves and
watches. The principal interest is
centered in the motor industry, which
now must face the grinding compe-
tition of great producing countries,
such as the United States, France and
Germany.
1t is almost a foregone conclusion
that some British producers must suf-
fer heavy losses, but according to
facturer loses the country as a whole
gains.
England will soon take its place
alongside the United States and
Canada as great motor using ma
car for every 10 persons, due largely
to the fact that small light cars cost
twice as much here as in the Unite ed
States and France.
Slack Demand for Cars.
Three years of trade depression. and
private shortage OF money also have
held back the demand for cars. With
80 per cent chopped off the market
price there is no doubt that one = Of
the greatest boom periods in the his
tory of the motor trade is ap-
preaching.
If anything, French cars of the
lighter types will find a greater de-
mand than those of American make.
This Is due to the fact that French
manufacturers produce a type which
appeals to British users. 1t is built
with low clearance, small cylinder
capacity and small wheels, all of
which reduces operating costs to a
point far more satisfactory than those
of American cars.
Great Britain taxes cars on cylinder
capacity, which makes the yearly tax
on Ford cars close to one-sixth of
their market price. If American pro-
ducers intend meeting the competi-
ton in England they must alter their
cars materially for the export trade.
Evening star., 1924-05-14
COTTON MARKETS.

NEW YORK, May 1.-The cotton
market opened firm today at an ad-
vance of II to rs points on buying
promoted by bullish private weekly
reviews OF crop progress, f1rmer rul-
ing OF foreign exchange rates and
expectations of bullish domestic con-
sumption figures for April.
May sold up to 31.40 and October
to 25.10, making net advances of 18
to 25 points, but the circulation OF
May notices representing about 1900
bales caused scattering liquidation
and unsettled the general tone OF the
market. May reacted to 31.00 and
October to 24.s6 during the early
Liverpool reported a small mar
ket, with some hedge selling OF old
crop months, but London and con-
tfnenta1 buying of new crop deliv-
cries.
The market steadied after the
early Offering of May had been alb
sorbed, but was rather irregular later
in the morning. The report of the
census bureau, showing domest mill
consumption of 100000 bales for
April against 1910 for March, was
a shade below the recent forecaE. and
the weekly report of the weather
bureau appeared to have been dis
counted. On the whole, however.
prices were fairly well maintained ID
toward midday, with May selling
around 31.38 and October 26.02, or
about 10 to 20 points net higher.
Cation futures closed gteady
Evening star., 1924-05-14
EVERYMAN'S
INVESTMENTS
Seventeenth Article.
LAND BANK BONDS.
BY George T. Hughes

Grading very high among conservative
| investments are the bonds issued under
| the federal farm loan act They are of
and joint stock land bank bonds. There
is sharp distinction between the two.
| The federal land banks, twelve in num-
Der, are Jointly liable for the bonds is
sued by any one of their number. There
is no such joint liability among the joint
stock land banks. The federal land
| banks are operated for the benefit OF
the stockholder borrowers; the joint
stock land banks are operated for pri-
vate profit
Loans made by both classes of banks
are strictly regulated by law. Mort
cages must be secured by first lien, and
| must not exceed in amount SO per cent
| of land value and 20 per cent of the
permanent insurable improvements.
Securities Exempt From Tax.
Income from bonds of both banks is
exempt from all federal and state taxa
ton There has been some criticism of
the policy of allowing tax exemption TO
bonds issued by the joint stock banks
on the ground that such exemption is
subsidy to a private enterprise. This,
however, does not touch the merit OF
l. II
quire a high degree of safety, and to
whom exemption from taxation is an
object, these land bank bonds are very
attractive, the obligations of the fed
eral land banks being entitled to the
slightly higher rating.
One other important point should be
considered in connection with these
banks and their securities. That is the
investment status of the shares of the
joint stock land banks These have been
offered to investors in all parts of the
country on an attractive yield basis I'm
doubtedly they have merit, but such
stock should not be bought without a
clear understanding Of just what kind
of an investment 1t is.
Should Show Good PROFIT.
A we'll managed joint stock land bank,
and, as far as the writer knows, they
are all well managed, ought to make
good profit on the money invested, but
there Is no guarantee expressed or i'm
piled on the part of the government or
anybody else of any profit at all. The
stockholders are partners in the enter
prise, and take the same kind of a risk
as stockholders in any other business.
And, moreover, some joint stock land
banks are more profitable than others
Finally, there Is a double liability at
taching to the holding of stock in these
banks, just as there is in stock in ma
tional banks While this does not seem
now ever likely to be of any practical
Importance it is we'll to keep it in mind.
Evening star., 1924-05-14
INDIVIDUAL STOCKS
ON DOWNWARD TREND
Variance in Price Movements,
Sugar Declines Bringing Fresh
Stock-Selling Orders.
SOME ISSUES SHOW GAINS
Sharp Rise in Atlantic Coast Line
Analysed.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK, May 14.-In today's
stock market most of the individual
price movements were downward.
Raw sugar prices continued to de-
cline and this brought fresh selling
into the sugar stocks. Punta Allegro
al one time was off points and
Cuba Cane preferred over a point
Notwithstanding the weakness in
sugar stocks, their sponsors still
stood their ground on the PROPOSE
tion that the larger part of the new
Cuban crop had been sold at prices
well above the present and that earn
ings for 1924 would measure well up
to those of 1928.
Held to Anticipate Dividends.
In connection with the sharp rise in
Atlantic Coast Line, the gossip was
that a stock dividend would be de-
clared at special meeting called for
Thursday. If this was not done, the
alternative, it was thought. would
be an increase in the regular cash
dividend. The advance in Louisville
and Nashville was to be set down as
mainly sympathetic. growing out of
the close relationship between the
two companies. Louisville could, how
ever, increase the dividend, which is
now per cent. Last year, nearly IL
per cent was earned on the stock,
and so far this year earnings have
been. running at the rate of ap-
proximately 10 per cent.
Motor shares again reflected the
Wall street view that the profits in the
automobile industry are on the down
ward grade. The new Studebaker
eH; dropped below 7pss 50. - Chandler % Motors
was quoted on a IA per cent basis.
This has happened before, anus the
Sc dividend has still been maintained.
WHY'S preferred and Max
well Motors A lost ground. Selling
broke out again in the United States
Rubber stocks, in Kelly Springfield
and in other of the tire group. The
deficit reported by the Lee Rubber
for. the first quarter was evidently
ber stock sold at new low record
price as it dropped below S.
New York Dock Issues Advance.
A further advance occurred in New
York dock issues. The explanation
for the recent rise cannot very well
lie in earnings. Things have picked
the last few months. but the margin
over preferred dividends is none too
large, let alone ANYTHING for the
common. The basis for the recent
buying is the rumo,- that some rail-
In the property. The name of the
Baltimore and Ohio has been men
toned in this connection. 4 similar
report was circulated a year or so
ago, and nothing came of it. If
negotiations were then under way,
they were broken off.
Shares Mt New Lows.
The decline became more general
in the late afternoon. Baldwin Lo-
comotive made a new low under 1O6
American Can broke par, and Norfolk
and Western sold below 120. Motor
stocks continued under pressure, with
active selling of General Motors
around 13. Electric Storage Battery
broke sharply in the last hour.
Evening star., 1924-05-14
GRAIN AND PROVISIONS.

BALTIMORE, Md, May IA Especially.
Potatoes, white, 100 pounds, 75a
LIS; $50 pounds, 1.25a2.75; sweets and
yams, bushel, 1.50a4.00; new potatoes,
barrel, 6.00a9.50. Asparagus, dozen,
1.50a4.50; beans, bushel, 2.50a4.50;
lima beans, bushel, 4ooa5. 90; beets,
hundred. 5.ooas. 90: kale. bushel. 40a
As; cabbage, basket, 2.O0a3.00; carrots,
500; cucumbers. basket. 3.50a5.50;
eggplants. crate, 2.50a5.oo; lettuce,
hamper, 75a2.50; onions, 100 pounds,
50a1.50; spring onions, hundred, 1.00a
2.oOa5.oo spinach, bushel, 25a5o; rad
ishes, hundred, 2.00a3.00 squash, bas-
ket, 1.50a3.oo; tomatoes, crate, 3.5oa
Apples, packed, barrel, 1.75a4.5o;
onsnet opanees '0h Box a.Ssa4ee; Pcs a2s erapefruit
200a3.25: Strawberries, quart, 12a20.
Settling Prices on Grain.
wheat-No. red winter, spot, 1.13;
No. red winter, garlicky, domestic,
113A; no quotations on No. or No.
red winter, garlicky: No sales.
Corn-Cob, new, 4.25a4.30 per barrel
for yellow, and 4:1oa415 pc. barrel
corn. spot, S2%; track corn, yellow,
No. 8, 80 asked. No sales.
oats-No. 2 white, 5sk a5s; No. 3
white, new, 57ka5S.
Rye-Nearby, 7oa75; No. 2 rye. spot,
Hay-Receipts. 113 tons. The bet
ter quality of timothy, light clover
mixed, No. / clover hay, in fairly good
demand, at full quotations, and for
good hay the market is firm. Lower
grade, damaged and unsound hay still
slow sale at irregular values.
Quotations-No. l timothy, $500
No. Q. 2S.00a2s50; No. 3 timothy, $3.50
a26. 90: No. / light, 25.08a26.00; No. l
clover. mixed, 27.0oa27.50; No. clo-
yer, 24.00a25.00.
Straw-No. / straight rye. 240oa
$500 per ton; No. 1 tangled rye, 1900
a20.0e: No. l wheat, 1S.00a1S.60; No.
oat, 17.50a1s.o0.
Evening star., 1924-05-14
BOND MARKET TODAY
Definitely STRONG
Increased Activity Shown on Ex-
change and "0ver-the- Counter
Trading"
BY GEORGE r. HUGHES.

Special Dispatch to The Star.
NEW YORK, May 1.-THE bond
market turned definitely strong today
with increased activity both on the
exchange and in the "over the coun-
ter" trading. Tuesday It was dull
and even heavy. Almost overnight
the atmosphere changed and dealers
became optimistic. The first sign of
the altered feeling was a burst Of
activity in United States government
bonds. carrying the long term Treas
ury Ans to a new high for the year
and to new high for all time above
102. The previous high record was
made the morning after the an
nouncement of the cut in the redis-
count rate Of the New York Federal
Reserve Bank; Until today, this high
the third Liberty 4 rs went to a new
high for the year, while advances
We're recorded over yesterdays prices
for the second Ans, the fourth AZ
and the tax-exempt 3ks.
HiEh-Grade Rails Strong.
Almost equal strength was OBJ
servable in high-grade rails and in
Reading Company ANS around the
high of the year. Selling to return s
per cent, they were apparently out
of line with other first mortgage
railroad issues Of equal strength.
Reading General As, the old bonds,
for the year. Pennsylvania railroad
consolidated AVS was another bond
to equal it's high record. The same
was true of Oregon Washington
Railroad and Navigation As. Inactive,
underlying railroad bonds, particular
lxy hn n
mand. Inquiry was also noted for
terminal bonds of intermediate ma
turtles. Birmingham Electric IS
brought out last month at 97k, had
a particularly good over-the-counter
market today.
In the foreign list there were frac-
tional rallies in the French issues. par
ticularly the French republic IS, which
went above 80 again. The balance of
the foreign list was without particu-
lar feature except an advance in Bra
zil 7ks coffee secured sterling loan.
Speculative Industrials' Record.
Irregularity marked speculative
industrials. Virginia Carolina Chemi-
cal Is broke sharply to a new low,
but American Agricultural Chemical
7hs advanced. Sugar bonds were
heavy in sympathy with sugar stocks,
some of the convertible issues get
ting down to point. In the utilities,
Detroit United 4 41zs went up more
than a point and there was active
trading in New York railways ad-
justment 5s on the expectation that
the readjustment plan would be ia
vorable. Speculative rails were quiet,
but generally firm.
New issues included $1,000,000 New
York and New Jersey joint stock
land bank IS at 101h and $2.500.00
Saline County Coal Corporation 6hs
due 1914 at "a to yield over per
cent.
Evening star., 1924-05-14
Markets at a Glance

NEW YORK-Stocks, lower; Reading
Coal Independently strong. Bonds
Irregular; several U. S. government
issues at new 1924 highs. Foreign
exchanges - Higher; French francs
rebound 80 points. Cotton-Firm;
bullish weekly weather report
Sugar Steady: better inquiry from
refiners. Coffee-Dull; trading features
less.
CH1CAGO-Wheat steadier; bullish
crop reports. Corn-Advanced, un-
favorable weather. Cattle-Strong
and active. Hogs-Higher; light re-
ceiptS.
Evening star., 1924-05-14
Asks Stock Issue Permit.

The Maryland and Delaware Coast
railway applied to the Interstate
Commerce Commission today for per-
mission to issue 1850 shares Of
capital stock of no par value and
$350.000 first mortgage twenty-year
6 per cent refund gold bonds. 100000
of which are to be used to complete
payment for forty miles Of road from
Denton, Md, to Lewes, Del, for
merly owned by the Maryland, Della
ware and Virginia Railway Company.
Evening star., 1924-05-14

25. .05, December 2425, January 24.W.
NEW ORLEANS, May 1.-THE cot
ton market opened slightly higher,
although Liverpool was only about
as due. The first trade in July
showed a gain of "a points over the
previous close and there was a sin
gle trade in May after the opening
call at 31.09, or a gain of "a points.
New crop months started 13 points
net higher. The market was in
fiuenced by private reports of rains
and the near months were firm on
the revision report of certificated
stock here, which showed only $3.50
bales, a minus correction of prac
tically 5000 bales. The market was
steady at the end of the first hour,
awaiting the weekly weather report.
Cotton futures closed steady at net advance
Evening star., 1924-05-14
NEW YORK DRY GOODS.

NEW YORK. May "A (SpeciaD.-
Raw silks took a slight downward
trend today in a market characterized
by its quietness. The declines were
from 21h to S cents a pound. The
cotton goods markets were quiet at
price levels mostly unchanged. Print
cloths were quoted at SH for GA by so
and 1ok for 68 by 72.
Evening star., 1924-05-14
Bourse Prices Irregular.

PARIS. Nay 14.-Prices moved ir-
regularly today on the bourse; per
cent rentes, So francs 80 centimes;
exchange on London, "a francs rs
centimes: per cent loan, 6S francs
10 centimes. The dollar was quoted
at II francs s centimea
Evening star., 1924-05-14

Opening: May 3U.S3, bid; July 2S.1U, Octo-
Der 24.25, December 2399, bid; January 1890.
bid.
LIVERPOOL, May 14.-Cotton-
Spot. good business done; prices
steady; good middling, 1916: fully
middling. 1906; niddling, 1856; low
middling, 1911; good ordinary, 1871;
ordinary, 1921. Sales, 5000 bales, in
Guiding 500 American. Receipts.
10000 bales, including $500 Ameri-
can. Futures closed very steady;
May, 1851; July. 1892; October, 14.76;
December. 14.29; January, 14.18;
March, 1902
Evening star., 1924-05-14
FOREIGN ExCHANGE
By the Associa ted Press.

by tne ASS0ClAteu Pfes8.
NEW YORK, May 14.-Foreign ex-
changes firm; quotations Gin United
States dollars): Great Britain, de-
mand, 4.36A; cables, 4.37; sixty-day
mand, .0593; cables, 1884. Italy, de-
mand, .0446; cables, .0446h. Belgium,
demand, .0499; cables, .0500. Ger
many, demand (per trillion), 23h;
mand, 1885; Sweden, demand, 1854:
Denmark, demand, 1884; Switzerland,
demand, .1770h; Spain, demand.
1888; Greece, demand, .0zo4; Poland,
demand, .00000012; Czechoslovakia,
demand, 1924: Jugoslavia, demand,
.0123X; Austria. demand, .000014M; !;
Rumania, demand, .0050A; Argentine,
demand, $500; Brazil, demand, lips;
Toxic, demand, .40H; Montreal, .9SK.
Evening star., 1924-05-14
NEW YORK MONEY RATES.

NEW YORK, May 14.-Call money
steady; high, 3h; low, 3k; ruling
rate, 3k: closing bid, 3h; offered at
3ax; last loan, az; call loans against
acceptances, az; time loans easy:
mixed collateral, 5000 days. 4; As
months, An; prime commercial paper,
4Aa4h.
Evening star., 1924-05-14

Atlantic Sugar Refneries had net
OF $606,931 IN 1923, COM
pared with $127,965 In 1922, but profit
and loss surplus was reduced from
$5,060,314 to $4,4S7,84o.
Evening star., 1924-05-14
posroN STOCK MARKET

BOSTON, May 14.-Following "a a
list of todays highest, lowest Aud
closing prices for the most active
stocks dealt in here:
Evening star., 1924-05-14

A variable B battery will help to
get the correct plate voltage, but a
potentiometer will do better.
Evening star., 1924-05-14
q. S. TREASURY CERTIFICATES
(Quota tions furnished by Redmond & Coz

The Southern railroad systems
earnings of $65,311,414 since the first
Of the year show a decline of $3.51e,-
S2S
Evening star., 1924-05-14
NEW YORK STOCK EXCHANGE.
Received BY Private Wire Direct to The Str oAce

Am Locomo (6).
Am Metal o..
Am Radiator 60.
Am SAT- r (5Oc).
Am Ship & Com.
Am SIN & Re (5).
Am s & r pf (7).
Am Stl Fdys (3).
Am Sugar.
Am Sugar pf .(7).
Am Sumat Tob.
Am T & Cab (5).
Am T & Tel (s)..
Am Tobac (12)..
Am Tob B (12)..
Am Water Wks.
Am w W pf (6).
Am w w 1st (7),
Am Woolen CO..
Am Writ Pap Of.
Am Zinc.
Am Zinc pf.
Anaconda.
Arm pf Del CO..
Arm Cons & Co.
Asso Dry G 3d..
Asso OIL (1k)...
At T & S Fe (6)..
A T & S F pf (5).
Atl Birm & At.
At Coast L co..
At Gulf & w I.
At Gulf & w I pf
Austin-N Mic o..
Auto Knitter
Bald Loco (7)...
Bal & Ohio 81.
Barnsdall A.
BarnSdall B. 80.
B'ch Nut (2.40)..
Beth Steel 3D..
Beth Stl pf Co..
Br En- Stl Cd pf.
Br'k Edison (s)..
Brlyn Edison rts.
Brk-Man Tran.
Br Man T pf CO..
Brklyn Un G 60
Butte c & Zinc.
Butte&Superior
Caddo Cen O& R.
Cal Packing (6)..
Cal Pet (1A)...
Callahan z Lead.
Can Pacific (10).
Case J I Plow. 80.
Cent Leather Co.
Cent Lea Co pf
Ger de Pas c %.
Chand Mot o..
Ches & Ohio o..
Chicago G. Alton.
Chic & Alton pf.
Chic & East Ill. :.
Chic Ct West. 80.
Ch Mil & St Paul.
Ch Mil & st. P pf.
Chi & Nwn o..
Ch & Nwn pf 90.
Oh Pneu T (5).
Chic r / & Pac.
c r 1 & P pf (7).
Chi Yellow c %.
Chile Cop 2h)..
Chino Copper.
Coca-Cola (7)....
Colo Fuel & Iron.
Col G & E (2.60)..
Com Ir TT (63c). &.
Com In TT pf Cd.
Congoleum o..
Consol Cigar.
Consol Gas (5)...
Consol Textile.
Cont Can 90.
Cont Motors (20c)
Corn Products. :.
Cosden Co.
Crucible Stl o..
Cub Am Sug go.
Cuban Cane Sug.
Cub Cane Su pf. =.
Cuyamel FIR 90.
Danl Boone M (3)
Davidson Chem.
Del & Hud o..
Del L & w o..
Dome Mines (2)..
Dcug-Pectin %.
Du Pt de N CD.
Dug 1t st pf Cd.
East K (t5N)....
Eaton AK (2.60)..
Ell Stor Bat o..
End-John (5)....
Erie.
Erie LIST pf.
Famous Pl o..
Fed Min SIN.
Ed M G. S pf CO..
Fifth Av B (64c).
Fisk Rubber. go.
Fisk Rub pf A.
Flcishmar o..
Freeport-T Texas.
Gen Asphalt.
Gen -Asph pf (5)..
Gen Elec (8).....
Gen Ell spe (60c).
Gen Mot (1.20)...
Gen Mot pf o..
Gen Mot db (6)..
Gen Mot db co..
Gen Petm (2)....
Gen Refr (4).....
Gimbel Bros. 80.
Goldywn Pict. -.
Goodrich. .......
Goodrich pf Co..
Goodyear pf.
Gray & Davis. -.
Ct North pf (5).
CIR Nor Ore o..
Grt Wstn Su (8).
CIR Canaan Cop.
Guantan Sugar. :.
Gu Mo & N pf go
Gulf st Stl go.
Hartman Co ~.
Hayes Will (3).
Houston Oil. .....
Hud Mot c o..
Hupp Mot c d..
Illinois Cent CO..
Ill Cent pf (6)...
Inland Stl (2k)..
Inspiration Cop.
Interb Rap IT,.
Internal Ag pf. :.
Int Bus Ma g..
Int Cement o..
Int Com Eng (2).
Internal Har(5).
Inter Har pf Cd.
Int Mer Marine.
Int Mer Mar pf.
Internal Nickel.
Internal Paper.
Int Pap pf st (6).
Int Shoe (4).....
Int T & T (6).
Intertype (t1 ~.
Invincible Oil. -.
Iron Products CO.
Jones Bros Tea.
YI nH~k f9N
Evening star., 1924-05-14

tpartly extra. Payable In preferred stock.
DrvIoend rates rs given in the above tao.u
are the annual cash payments based on the
latest quarterly or half-yeariy declarations
Unless otherwise noted, extra or special
dividends are not included.
High. Low. Last.
Call Money. ..... 81 Sh 3h
HOURLY SALES OF STOCKS.
II am. 80. lie, 600 12m.. 285, 900
1p.m..... 4oa,500 2p.m. .667. 900
New Britain herald., 1924-05-24
SAYS TRAIN WAS EARLY
Meriden Gate Tender Insists Express That Hit Trolley Yesterday Was Ahead of Usual Schedule.

Meriden. May 24.--Investigations are being made today of the train- trolley smash on the Britannia street crossing of the New Haven road yes- terday noon in which eight persons were injured. There were seven pas slngers in the car operated by Lee IT. Ailn. The most seriously injured is Miss Julia Whitmore. of 47 Griswold street, who has numerous wounds and a severe injury Of the left side that causes anxiety. Two others at the hospital are making a good recovery. The others injured are at their homes. Among the witnesses summoned for the coroner is Frank O'Donnell. gate tender. who says the American Rail- way Express train had been passing his crossing for some time at 1920. Yesterday it arrived suddenly at 1s:07 and his kates were not down. The trolley was hit broadside and thrown over 3e feet Mayor II. T. King will complain formally 10 tss state public utilities commississ against the one-man trolley cars.