davidaulloa/AmericanStories huggingface dataset:
Evening star., 1924-03-26
HARDWARE "UNcERTAIN." !"
No Major Price Changes Made Dur
ing Past Week.

NEW YORK, March 26.-Hsrdware
Age in it's weekly market summary
will say tomorrow:
No major price changes were made
during the past week. Spring bust
ness is said to be developing at sat
isfactory pace in the hardware mar
kets throughout the country, but an
indefinable element of uncertainty is
beginning to be manifested in the at
titude Of buyers.
Orders for the most part are nu-
nerous. but they are confined to small
quantities. On the other hand, the
amount of construction work under
way is daily Increasing the demands
for all kinds of hardware products,
particularly builders hardware and
tools.
Reports from most Of the indus
trial centers indicate that collections
are normal, and that retail sales are
satisfactory for this time of the year.
Retail sales in suburban sections are
somewhat slower, but it is anticipat-
ed that they will materially increas Sc
with warmer weather"
Evening star., 1924-03-26
COTTON REPORT UPHELD
BYCOMMITTEE HEAD
8. W. Kilgore Answers Objections
Made to Showing of Inaccuracy
in 1923 Census Figures.

Certain points in the report of the
special committee of statisticians ap-
pointed by Secretary Hoover to in
quire into an alleged discrepancy of
579.5O4 bales of cotton in the census
bureaus annual supply and distribu-
tion report raised by Col. II. G. Hes
ter in New Orleans yesterday, who
expressed dissatisfaction with the
committees report, were taken up by
Il. w. kilgore, head of the special
committee, in a statement issued last
night.
The figures in the August, 1929.
census cotton report referred to by
Col. Hester" Mr.. Kilgore said, were
$4,000 bales entered in the part of
the report containing the items of
supply for cotton under the head to
balance distribution. These figures
were reduced by the committee to
355, 900 bales with the statement that
they might contain further duplica-
tions or be subject to other correc-
tions which the committee had not
found in the time it had had for the
investigation. These 355, 900 bale
figures were transferred to the dis
tribution part of the statement under
the heading of excess of reported dis
tribution over reported supply
1.-The $4,000 bales representing the
city crops do not add to the total
of pounds of cotton, but do add to
the number of bales"
Evening star., 1924-03-26
WALL STREET BRIEFS.
By the Associated Press,

Weather conditions are infiuencins
security and commodity values. FaV-
ora BILE weather in the south. which
has benefited the growing crop, has
been partly responsible for the recent
decline in cotton futures. one reporc
says omission of the extra dividend oIf
American Can was due, in part, to-
drought in western fruit growing ter
ritory. Automobile manufacturers at
tribute the recent reduction in sales
which has been largely responsible
for the heavy liquidation of motor
shares, to bad roads in certain SER
tions.
While Wall Street apparently is
bearish. attention being paid to. the
speculative possibilities of oil and rail
shares on the long side. Purchase or
oils has been recommended by several
houses on the theory that consump-
ton will equal production within u
few weeks audw that higher crudo
prices will result. The rails most
favored are those in which favorable
dividend developments are reported to-
be pending.
The street is somewhat puzzled by
! the omission of the extra dividend Ola
American Can. Reports that the ac~
| tion was due to drought in Western
fruit growing territory were not uni
yersally accepted. In some quarters
there was a disposition to regard it
either as a desire of the directors
| to limit speculation in the stock for
political reasons, or to prepare for
splitting up the stock on a two to
one basis and placing the new stock
on a 81 basis, as against tho present
| five dollar rate. Recent drastic re-
duction in tin prices in London, 1T
| is believed, will be favorably reflect
| ed in the company's future earnings.
The Puget Sound Power and Light
Company reports net income of 81
1S7, ,402 in 1923, applicable for reserve
and dividend.
| Production of sole leather in Feb
ruary totaled 1,213,000 pieces against
| I,373,255 in January and $4,000 in
| February, 1923. Stocks in hands OF
tanners on February 29, totaled s.
| 294, 900 pieces compared with 8,2eS, 00O
at the end Of February, 1888.
Evening star., 1924-03-26
COTTON SPINNING DROPS.
Activity in February Declines as
Compared With January.

Cotton spinning activity declined
in February as compared with jan
uary, the census bureaus report to-
day showing a decrease of more than
/, LOG, ,0o0, 900 active spindle hours.
Active spindle hours for February
numbered 1,304,102.954, or an average
of 1874 per spindle in place, compared
with 8.44S.247.46T, or an average of
224 per spindle in January.
Spinning spindles in place Febru-
airy % numbered 37,742,143. of which
32.6s3.7S6 were active at some time
during the month, compared with
37,749,454 in place January 81, of
which 33,S39,S06 were active at some
time during January.
The average number of SpindIes
operated during February. based on
an activity of S.74 hours per day, was
3S,S7S,600, or at S9S per cent capac-
ity on a single shift basis, compared
with S6,476,177, or at 96.7 per cent
capacity in January.
Evening star., 1924-03-26
CHICAGO GRAIN MARKET.

CHICAGO, March 26.-Reported
purchasing of duty-pa Canadian
grain to be shipped into New Eng
land gave a setback to the value Of
oats in the last hour of the board
of trade session today, and depressed
wheat and corn in sympathy. Wheat
closed unsettled at a shade to Is a Il
net decline. May. 1.01 Il to 1.01 y e
and July. 1.03A to 1.03Aa3s.
All grain made u moderate upturn
in price SHORTLY after the opening. The
defeat OF the Poincare regime in
France was the generally accepted
explanation. A consequent different
policy toward Germany on the part
of France was looked for with en-
Iarged European demand for wheat.
corn. oats, rye and barley. Wheat
opening prices. which ranged from
14aas off to haA advance, with May
LOIS to LOIS and July 1.03as to
1.o3ss, were followed by a rise all
around to well above yesterday
finish. A noticeable feature in the
corn market as well as in wheat and
oats was lack of aggressive selling.
After starting 1saA off to Is up,
May 771z to f7&, corn took a ma
terial upward swing.
oats started unchanged to u high
or, May 1855 to 46N. and later CON
tinued to ascend. Provisions were
Evening star., 1924-03-26
FARM LOAN PROBLEMS
TOPIC AT CONFERENCE
SecretAry-Treasurers of 169 Asso-
Citations of Georgia in Farley
at Columbia, S. c.
BY the Associated Press.

BY the Associated Press.
COLUMBIA, S. c., March 26.--SecTe-
ary-treasurers of TIE 169 farm loan
associations OF Georgia meet here to-
day at the Colurnbia Federal Land
Bank building to discuss problems
arising in their business. Later like
officials of North Carolina and Florida
will meet here.
"Since the organization of the Fed
eral Land Bank in Columbia" said
w. T. Wray of Asheville, y. c., one
of the institutions directors, in a
statement today. over 10000 farmers
in North Carolina have applied for
about $50, 100000, in South Carolina
approximately $4,000 farmers have
applied for the same amount, in tSe
state of Georgia over 10000 farmers
have applied for over $4,000, 600, and
in Florida over 10000 have applied
for about $25, 900, 900"
"A great number Of these applica-
tlons." the statement continued, were
rejected because the farmers were
not eligible to borrow money through
this system. However. it Is graft
flying to those operating the bank
that they have been able to close
nearly 5000 loans in North Carolina,
for over s15,000.000 and in South
Carolina about $500 loans for ap-
pro1hnately the same amount. In the
state of Georgia nearly 1900 farmers
have secured loans on their farms for
about $18,000.000 and in Florida ap-
proximately S6,000,0o has been loan
ed to about $500 farmers"
Evening star., 1924-03-26
TREND OF BONDS
CHEERS MARKET
Genuine Investment Buying
in Large Volume Marked
Today's Dealings.
BY GEORGE II. HUGHES.

Special Dispatch to The Star.
NEW YORK, March 26.-Genuine in
vestment buying in larger volume and
of better quality than in a long time
appeared in today's bond market.
Price changes in transactions. both
over the counter and on the exchange,
were not large, but the trend was en-
couraging. Bonds yielding from 51a
to per cent were in the greatest de-
mand Libertys were firm after the de-
cline Of late Tuesday. High-grade saw
ings bank railroad issues Were steady.
Speculative Group Feature.
In the speculative group the fea-
ture was again the st. Paul bonds.
There was active trading in the As
OF 1925 around the new high on this
movement. The convertible 4 1as of
1882 were newt in activity. All the
other junior st. Paul bonds were
higher. Seaboard Air Line issues
were likewise active, with the 6s
reacting slightly, while the adjust
ments went higher. International
Great Northern 6s were other fa-
vorites of the day. making new
high for the year.
Among the fractions Brooklyn Man
haitian Transit 6s claimed the great
est attention. In industrlals there
was a drop which at one time
amounted to more than. point in
American Agricultural Chemical ~ S.
French bonds Reacting.
French bonds showed reactionary
tendency, which may have been due
to reports from Paris as to the
changes in the government. Mid
European issues were firm
The $11,500,0e0 one-year per cent
notes of the Columbia Gas and Elec-
trio Company, offered at par, were
promptly sold. Other new issues in
cluded s2.000.000 Houston Lighting
and over 5 rs. due 1854, at 96ls. to
yield about SIS per cent; $4,000. 900
Postum buildings first mortgage 6h s,
due 1943, at 90. and ss.000.000 Botany
Consolidated Mills 61As, due 1884. at
96l2 to yield about per cent.
Evening star., 1924-03-26
ISSUES UNDER ATTACK.
Selling Pressure Forces American
to New Low.
BY the Associated Press

by the Associated Press
NEW YORK, March 2G.-Mixed
price movements marked the opening
OF today's stock market, with a re-
sumption OF selling pressure against
American Can. which dropped "s to
los. new low price on the cur
rent movement. Motor and accessory
shares also were under attack, Strom-
berg being hammered down more
than a point to a new low. Baldwin.
Z. $. Steel and some oil stocks were
slightly higher.
Considerable irregularity prevailed
in the early dealings with prices fail
Strength of General Electric. Lack =
awanna and Norfolk and Western.
which advanced point or more. was
offset by Weakness of the tobacco
shares, General Asphalt and Chandler.
which fell two points to new low
price of Az, Studebaker. however,
moved counter TO the general trend
of the motors.
American Sumatra Tobacco was
strengthened on the announcement of
company officials that there would
he no new financing and California
Packing moved up points. Foreign
exchanges opened steady.
Special weakness cropped out in
American Agricultural Chemical. which
broke 31s to new minimum
figure, and a flock of new lows was
established by the tobacco shares, in
Guiding Tobacco Products, Schultz
and Reynolds B. which declined ! to
: points. Mack Truck, L. S. Indus
trial Alcohol and National Supply also
touched new bottom prices, with av-
erage losses Of = points. L. S.
steel common jumped IA points on
publication of favorable trade reports
and Hartmann Corporation rallied 8 II
On official assurance that the present
dividend would be maintained Call
money opened at per cent.
Maneuyer Tnsuccessful.
Round amounts of American Can
were dumped on the market in an en-
deaver to arrest the rallying tenden-
les of the list in the afternoon, crash
ing it down to 1043s, an overnight
loss of 4 "a, and nearly Is points un-
der it's high figure of a week ago
The maneuver, however, was unsuc-
cessful, representative industrials
like Baldwin, Studebaker, United
states Steel, Chandler, Gulf States
Steel and General Electric forging
sturdily upward, with Norfolk and
Western and Lackawanna also ex-
hibiting considerable strength.
Evening star., 1924-03-26
AIMED AT AUTO IMPORTS.
Sweden Proposes Raising Duty on
Foreign Cars.

STOCKHOLM, March 2S.-Of great
Importance to the American automobile
export trade is bill just presented in
the Swedish riksdag which proposes
raising the import duty on foreign motor
cars and the imposition of duty Of
about y. cents per liter on gasoline.
These measures are aimed at steadying
the importation of automobiles, which
recently has become excessive. 1t is
; also desired to stimulate the production
of sulphite alcohol, a. home industry
Through a Swedish invention this alcohol
can be used efficiently as motor fuel.
Evening star., 1924-03-26
$500, 900 BOND ISSUE SOLD.

NASHVILLE. Tenn, March 2s.-The
Tennessee Central railroad refunding
bond issue of 100000 was sold yes
terday to Seasongood & Mayer of
Cincinnati for $s22,s55 by the local
board of public works.
The bid accepted was the highest
on the basis of 5 per cent interest
for the bonds. Five other bids were
received.
Evening star., 1924-03-26
BUSINESS OUTLOOK GOOD.
Pittsburgh Sees Increased Activity
in All Lines.

PITTSBURGH. March 20 (Special)
noted by local business
men in nearly all lines point to in
creased activity. Forward buying in
steel is in restricted volume. but is
being conducted in a way, which in
dicates conditions are stable. Cur
rent steel purchases are heavy, but
production and shipments are heavier
still. The industry does not have
a large back log at present and many
believe mill operations will slacken
somewhat.
Evening star., 1924-03-26
EX-DIvIDEND TABLE.
WOOL EXPORTS INCREASE.

BOSTON. March IS tSpeciaD.-
Growth of the export movement was
the feature of today's raw wool mar
ket Summer street dealers reported
the domestic trade spotty, with such
sales as are made being Of the hand
to-mouth variety. Price levels re-
main unchanged. wool holders re-
fusing to sell below cost of replace
ment.
Evening star., 1924-03-26
A Fool and HIS Money.

The fact that a stock certificate Is
printed in fancy green scroll work is
no proof that it is worth any moro
than ordinary wallpaper. Thousands
saved their money if they simply had
asked their banker to tell them what
he knew of some supposedly wonder
full investment
Evening star., 1924-03-26
N. Y. METAL MARKETS.
Quotations furnished by Redmond & Coz

NEW YORK, March 26.-Copper
easier; electrolytic, spot and nearby,
13Ma13%; futures, 13%a13% Tin,
easy; spot, 50.75; futures, 1925. Iron,
steady; prices unchanged. Lead,
steady; spot, 900. Zinc easy; East St.
Louis, spot and futures, 6.32a6.35. An
tfmony spot, 1900.
Evening star., 1924-03-26
Savings Bank Showing.

Savings Bank Showing.
Col: Wade II. Cooper. president q
the United States Savings Bank. has
maze good his promise of last year
on an annual dividend basis of 81
per cent. The first disbursement al
the new rate will be made as of rec
ord March 20.
For several years this bank has
PAID regular dividends of 90 per cent
ana extra disbursements which
brought the total to 30 per cent. but
the current declaration DEFINITELY
pIaces the stock on 80 per cent
OASIS making it the largest dividend
paying bank in the city.
Land Bank Offering.
Brooke, Stokes & Co. are today an
nounGing the offering of a new issue
OF s3Oo,0 900 Potomac Joint Stock Land
Bank per cent farm loan bonds at
par They are dated March l and
MAJ ture In thirty years, being the di-
! rect obligation of the Potomac Joint
stock Land Bank, secured by deposit
with the farm loan registrar of
United States government securities
or nrSt mortgages upon improved
faTIns in Virginia and Maryland.
The issue is exempt from federal.
state. municipal and local taxation
FINLAND Debt TO L. s. Adjusted.
The signing by President Coolidge
Finland, followed by a delivery t.
the Treasury of Finlands bonds in
the amount of $4,000, 900, in exchange
Tor their original government notes,
eHects the formal completion of thu
adjustment Of Finland's debt TO the
United States government
tlnland is the only European coun-
try besides Great Britain which has
adjusted its debt to the United States
government, the funding plan being,
hn
ment already made with Great Brit
ain. As the total amount of F'inland'ss
debt is only s9,000,000, the charges
WllI not be heavy. The bonds mature
on December Is, 1884, with interest a
per cent during the first ten year;
and ) 4 per cent for the remainder
repayment of principal starts i'm
meolately, and will consist of annua [
lnstallments. which increase EraSu-
alIy each year according to a fixed
schedule, payment being only $3.50
for the first year and averaging
$50,900 annually for the first ten
years. Finland's finances are in ex-
cellent condition, and during boil,
1922 and 1928 revenues were substau
| TALLY in excess of expenditures, and
according to official reports, revenues
for 1924 promise Well Some decrease
in taxation is under discussion.
W. r. and f. Active on Change.
Washington Railway and Electric
preleTreu SIoch was very active on
the Washington Stock Exchange this
morning. recovering to 72A, or one
point from the days opening. In ali
454 shares changed hands, the ad-
vance being steadily fractional.
On the other hand, National Mort
gage and Investment preferred broks
TO SIS on a sale of ten shares. This is-
sue, only admitted a few weeks ago.
has been most active, with all pre-
vious sales made at 9 or l point unde.>
par.
The remainder of the session was
devoted to dealings in popular utility
bonds at unchanged levels.
Evening star., 1924-03-26
LONDON WOOL AUCTION.

LONDON, March 26.-The offerings
at the wool auction today amounted
to 1908 bales There was a strong
demand from home and continental
buyers on the basis of recent values.
The bulk of the offerings was cleared.
Evening star., 1924-03-26
FOREIGN EXCHANGE.
COuotations furnished by W. 3. Hibbs & c
By the Associated Press.

NEW YORK, March 26.-Foreign
exchanges steady. Quotations Gin
United States dollars): Great Britain,
demand, 4.29A; cables, 4.2sk; sixty
day bills on banks, 4.27: France, de-
mand, .O54O; cables, .o541. Italy, de-
mand, .0432; cables, .0432k. Belgium,
demand, .0430; cables, .0431. Ger
many, demand (per trillion), %.
Holland, demand, 1854. Norway, de-
mand, 1858. Sweden, demand, .264s.
demand, 1923. Spain, demand, 1906.
Greece, demand, OH. Poland, de-
mand, .o00oe012. Czechoslovakia, de-
mand, .02901k; Jugoslavia, demand,
.0123k: Austria, demand, .000o14h
Rumania,. demand, .0052M; Argentina,
demand, 1852. Brazil, demand, .1120.
Toxic, demand, .41s. Montreal, de-
mand, .97Ss.
Evening star., 1924-03-26
BoURsE TRADING DULL.

PARIS, March 2s.-TradinG was dull
on the bourse today. Three per cent
rentes, 55 francs 20 centimes: ex-
change on London, 10 francs As cen
times, IS per cent loan, 81 francs 40
centimes; the dollar was quoted at 1s
francs 50 centimes.
Evening star., 1924-03-26

The amounts itemized above repre
sent the par values of the invest
ments, in the majority of cases ex
chased
Evening star., 1924-03-26
N. Y. Stock and Bond
Averages.
Tuesday, March 10.

STOCKS.
Total stock sales, LOIS, 200
shares.
Twenty industrials averaged
$500; net loss, 1.16.
High, 1924, 1924; low, e4.sS.
Twenty railroads averaged
S4.24; net loss. IL.
High: 1924, $3.50; low, S2.T4.
BONDS.
Total bond sales (par valued,
s16,0Ss, 900.
Ten first grade rails averaged
$3.50; net loss, .16.
Ten secondary rails averaged
$40; net loss, .2s.
Ten public utilities averaged
1851; net loss, II.
Ten industrials av BRA g ed
1856; net loss, .32.
Combined average, sS.os; net
loss, 20.
Combined average month ago,
s7.49: year ago, s5.7S.
Evening star., 1924-03-26
DIVIDENDS.

1t pays to read the want columns of
The Star. Hundreds of situations are
flled through them.
Evening star., 1924-03-26

tPartIy extra. sPayaDie in preferred stock.
Dividend rates as given in the above table
are the annual cash payments based the
latest quarterly or haif-yearly declarations
Unless otherwise noted, extra or special
dividends not included.
High. Low. Last
Call Money. 5h 5S
HOURLY SALES OF STOCKS.
IL An. -. 220 900 1p.m..... 526 100
13 m...... 372 400 2p.m..... 636 500
Evening star., 1924-03-26
RESERVE INVESTED
BYP.E.P. COMPANY
Fund Held Contingent Upon
Court Order Converted Into
Sound Securities.

Whatever may be the final disposl-
ton Of the fund set aside by the
Potomac Electric Power Company as
contingent reserve for repayment
to consumers if ordered by the courts.
the amount, which now approximate
$9,0O0,00o, is wisely and conservative
ly invested in sound securities. NOR.
than half the total being placed in
government obligations. mainly in
United States Treasury notes. and tn.
thIrd Az per cent liberty bond issue
fhe report of the lighting company
ior the calendar year ending Decem
per II, last, filed with the Public Util i
ltles Commission this morning, show
the total. including interest, amount
ed to S4.775.672.I6 on that da.e.
List of Investments.
Thls. the report further shows, wa
invested as follows:
Z. s. certificates OF Indebtedness. 500 usp
=; -; >. ,hrcasnry notes ..---....... l, 769 10,
SnN, no1nty ~ Ioan, 5t2 per cent bonds 1,7op
second liberty loan, Al per cent
- bonds ..................... a17,5oo
ILL, hosrty loan "a per cent bonds l. 02S, ,J0I
bonds ..-......: -. ......-... 1oe, ,5oo
u deeenture bonds ............ 1s1. sos
r, cent bonds .....:::............ 800.
r. e. p. Co. serial '.A'' gen and re-
:, funding per cent bonds ....... 93.2G'
L. r. T. consol. mortgage > per
cent bonds .......:......... SOC.
WashIn.I ieIepnone ana Telegraph. $685.
=, per cent bonds ................. 494, ,oGl
CITY and Suburban Railway bonds 3s m.
- nnfefopSitan RallHay bonds ....... G.Ogl
CITY of Paterson. " J...... a az.
Ciy oL Dulnth, MINI ........-...-. 10000
10y OF AEron' Ohio .-...........,. i6,0
CCtty oL Ioiedo. ONO ............... 10000
CiS VI Delolt, Mich. 10 prt
City OF Lama, ohlo ...--.......... 1000
CC!g OF CleVeiand, Ohio. .....-... 80 0.O0n
C!y Ciy OF Los Angeles. Calf. ........ 20 upi
CitS oL Coumbus, Ohio ........... so, o.
00Iy oi saginaw, Mich ........... 1905
|asH ''''-. ACKNOWLEDGEMENTS. Al 00I
Evening star., 1924-03-26

TOTAL SALES (Par vaIue):
am. 3123 900 12 noon l5o 0so
lp.m.. 6 $4,000 2p.m... z 281 600
Evening star., 1924-03-26
List of Investments.

This. the report further shows, Wa
invested as follows:
Evening star., 1924-06-12

nominated there. Mr.. Willis nominal
ed Mr.. Harding in that convention
and succeeded him in the Senate.
The resolution also carried an az
fectionate expression for Mrs Hard.
ing, the late Presidents widow. II
was carried without debate and a
rising vote. The delegation from
Wisconsin voted with the convention
for the first time, and it was unani-
nous
The roll Of states for Offering vice
presidential nominations was called.
Kenyon First Nominated.
Judge Kenyon was the first man
placed in nomination for the vice
presidency.
Hanford MacNider, past commander
of the American Legion, who placed
the judge in nomination, told the
convention that with nothing but
the good of the Republican party at
heart Iowa offers you man fit to
run with Calvin Coolidge"
MacNiders nominating speech was
not more than a hundred words in
length. The Iowa delegation stood up
in the brief demonstration which fol-
lowed.
The caH Of the states theu~wss