Casper Daily Tribune Newspaper, December 6, 1925, Page 23

i Vine i SUNDAY, DECEMBER 6, 1928 TRIBUNE RAIL SHARES LEAD STOCKS IN INCREASE Merger News and Favorable Earnings Reports Stimulate Buying While Industrials Are Swept by Profit-Taking STOCK AVERAGES Date— 20 Industrial 20 Rails -140.36 118.89 112.96 112.16 99.85 High, 1925 113.89 Low, 1925 96.13 Totol sales stocks 971,300 shares. Railroad shares assumed the lead- ership of the upward movement in the stock market today. With buy- ing stimulated by reports of pending merger developments and the main- tenance of earnings and freight traffic at unusually high levels, the average price of twenty representa- tive carrier stocks listed on the New York stock exchange was car- ried to the highest figure of the year. Week end profit taking swept over the industrial Hst but sales were fairly well absorbed and price re- cessions were confined to narrow limits, The irregularity in this sec- tion of the market was more than offset by the sustained strength of the rails. Renewed activity in southern and southwestern rail issues’ was attrib- uted to reports that merger proposals would be hastened by a desire to complete voluntary consolidations in advance of new legislation of carrier groups. Buying converged on two outstand- Ing groups—the so-called Walters Roads in the southeast and the Lo- ree Lines in the southwest. Atlantic Coast line, Louisville and Nashyille and Nashville, Chattanooga and St. Louis, which are apparently sched- uled for combination into a single “ \ system, reached the highest levels of the year on gains of one to nine points. Expectations of early devel- opments in the Loree merger also en- livened bidding: for Kansas City Southern St. Louls-Southwestern and Missouri-Kansas-Texas issues, With New York Central and South- -ern Railway directors scheduled to meet next week for dividend action, speculative interest in these issues was revived on reports of “favorable developments.” Other high grade investment stock such as Atchison and Union Pacific also were in good dem&nd. Although many industrial shares were hampered by realizing sales, leading motor issues regained spec: ulative. fayor. Chrysler soared al- most 10 points on rumors that the new shares soon would be placed on a $3 annual dividend basis. General Motors, Hudson and Mack Trucks also moved up, but yielded most of their gains before the close. U, 8. Steel, after selling as high as 185%, closed a point below this figure for a fractional net loss. American Can was hammered down almost five points, and DuPont lost two points but gains of one to three points were registered by Consolidat- ed Cigar, Detroit Edisén, General Electric, Fairbanks Morse, New York Canners and Postum Cereal. A rise in sterling exchange to a new high on the current movement above $4.85 left Uttle doubt on the ad- favorable effect of the recent yance in the London Bank r day's quotation was only below the level reached Other European currencies were quiet with French francs holding firm Grain Regions Have Ups \ , By J. C. ROYLE. (Copyright, 1925, Casper Tribune- Herald) NEW YORK, Dec. 6.— Business sentiment in the grain-raising states has jumped up and down like mer- cury the last few weeks in cor-ordl- nation with wheat prices. At pres- ent, the price leyel points to “fair and warmer.” The amount of wheat shipped and the money which went into the farmers’ pockets in return, fell off sharply in October and No- vember but recent spurts in prices have released a large quantity of grain especially in the last few days. and owns With Market Grain ships on the Great Lakes loadec hastily today to take advan- tage of the old insurance rates, which rise at midnight Friday and increase again on December 12. In the Dakotas, Montana and Minne- sota, the larger portion of the grain crop has been hauled to market but still remains in the ownership of the growers. This volume of stored grain is heavier than in any year since the war and has tied np a large sum, which normally would be in_possession of the farmers or the merchants they patronize. ‘The proportion of the crop still Finland, ‘The external dollar bonds of the Fepublic of Finland sell to give a higher yield to the investor than the obligations of other nations of north- ern Europe, a condition explanable by the comparatively recent estab- Ushment of the present government. If only the facts as to wealth, nat- ural resources and the character of the people were to be considered the bonds would command a higher mar- ket price and as they become sea- sonal it is reasonable to expect that this higher price will follow. There are two direct obligations of the republic listed on the New York Stock Exchange, a 6 per cent issue due September 1, 1945 and a 7 per cent due March 1, 1950. At re- cent quotations the yield at the mar- ket on both these bonds was over 7 per cent. Comparing the two we (ind that each Is redeemable at par, the 6s at any time on and after March 1, 1926 and the 7s at any time after Everyman’s Investment March 1, 1930, As far as that goes n@ investor who buys at present prices would Joss anything if his bond was called. On the contrary he would gain. As a matter of fact there is np present prospect of any of these bonds being called and it makes little difference which one fs bought. Besides these two Finish republic bonds, there {s a municipal loan, carrying a 6% per cent coupon in two series “A” and “B” maturing October 1, 1954. The series “A” bonds are the joint obligations of twenty- seven associated municipalities and the series “B" are the obligation of the city of Helsingfors. Each series is guaranteed unconditionally prin- cipal and interest by the republic of Finland. These also are redeemable par on and after October 1, 1934 and sell in the open market to re- turn over 7 per cent. They are en- titled to a rating comparable to that of the bonds of the central govern- ment. Commodity Trade News Steel CHICAGO—Demand for steel con- tinues active at firm prices, with Production at from 65 to 80 per cent capacity. CLEVELAND—AIl Cleveland blast furnaces are active except three which are undergoing repairs. Wheat TOPEKA—The 1026 acreage of the eleven wheat states Included in the Atchison, Topeka and Santa Fe rail- road territory will show a gain of approximately 1,500,000 acres over 192 The acreage is estimated at 0. Radio MEDFORD, Mass.—The Crosley Radio company of Cincinnat!, will take over the Amrad plant here if the court approves the sale at $39,- 000. The Amrad plant was Amer- fea’s ploneer broadcasting station and was started by Tufts college students. Margin Accounts Explained To those who do not understand how margin and partial payment accounts are handled we have pre- pared an instructive circular which is free upon re- HILL, WEAVER & CO. INVESTMENTS GRAINS Gladstone Hotel Bldlg. Private Wires to Principal Markets quest. STOCKS BONDS Wool KERRVILLE, Texas—The Schrel ner Wool and Mohair Commission company has sold its entire fall ac- cumulation of short wool totaling around 850,600 pounds, to Winslow and Company of Boston. The sale was made on sealed bids, but prices are believed to hate ranged from 38c to 42c a pound, ou TULSA, Oklahoma—Production in the Garber and other northern flellds is declining and the market for crude oll is growing stronger. The Simms Petroleum company has announeed a premium for 40 gravity and under, of 10¢ above the market. The Tex. homa Oil and Refining company also has posted a 10c premium. Fla.—The dam- itrus fruits frqam the recent heavy storm probably will not affect more than 5 per cent of the crop, but thousands of acres will be inundated for days yet. 4 Am. Oil and Financial News New York Stocks Last Sales. All. Chem, and Dy: American Can .. Car and Fay. Locomotive Sm. and Re! Sugar Tel. Am. Am. Am. Am. Am. Am. Water Wks. Am. Woolen Anaconda Cop. Atchison —.. Atl. Coast Line. Baldwin Loco. Balt. and Ohio--.... Bethlehem Steel. California Pet. Canadian Pac. Cent. Leath., pfd. Cerro de Pasco...... Chandler Motor -. Chesapeake and Chic. and Northwestern. Chic, Mil and St. P. pfd.. Chic, R. Coca Colorado Fuel Congvleum-Nairn Consolidated Gas Corn Products ,---.-. Crucible Steel Cuba Cane Sug. pfd, Davison Chem, Dodge Bros, pfd. Du Pont de Nem Electric Pow. and Lt. ctfs_-- Erie 1st. pfd. Famous-Players General Asphalt General Eiectric General Motors Gt. Northern pfd... Gulf States Steel. Hudson Motors Ulinois Central Independent O. and G. Int. Harvester Int. Mer. Mar, Int. Nickel -. fnvincible Oil Kelly-Springfield Kennecott Cop. Lehigh Valley .---. Louisville and Nash, Mack Truck .. Marland Oil Max. Motors Mex. Seaboard Pon -o: Mid-Continent Pet. -.----.--- Mo., Kan. and Tex. Missouri Pac. pfd. -. Montgomery Ward .. Nat. Biscuit Nat. Lead -.. New York Central - N. Y¥., N. H. and tf Norfolf and Western. Nor. American -.... Northern Pacific ------------ Pacific Oil -,,. Pan, Am. Pet, Pennsylvania .. Phila. and Rdg. C. and " Phillips Pet. Pure Oil . Radio Corp. . Reading Rep. Ir, and Steol.-.-- — Reynolds Tob, Sears Roebuck --—--0ss-p-e- 2 Sinclajr Con. Ojl---—-------- Southern Pacific ---------e--- Southern Ry, ~~-.--0r-eear-- Standard Oil, Cal, ---------- Standard Oil, N. J.--~-. Stewart Warner --. Studebaker Texas Co. Texas and U. S. Cast Ir, Pipe. U, §. Ind. Alcohol --.-2------ Wabash pfd. Westinghouse Elec, - Willys-Oyerland Woolworth Chile Copper Montana Power ~ Wyoming Oils Picardy .. Atlantic Petroleum . Great Northern, 1,000 — Quaker Ol ~. Prairie Oil Mountain Producers Salt Creek Producers .....-. Continental ~--.-----e------- New York OU It Creek Cons. 8. O. Ind. Humble Oil Ohio Ol — Salt Creek, 36 to 36.9 gravity .! Salt Creek, 37 to 39.9 gravity . Rock Creek --.--------------- Blg Muddy Elk Basin .---.. Cat Creek —.~-.------------- Lance. Creek ----.--canna--aeo~ Grass Creek, Greybull ~—-oaereoapmene Torchlight ~—----ean-senscccee Mule Creek -~-...------------ Lander ORAGe -----4-—n-nnnnnnnenne nee SUNDUTEt wane pe mennnnneennnne UBHt mnenecnnee LOCAL OILS Telephone 3024. Hamllton Dome e--s-anqnce Ferris —-. Pilot Butte. Quotations py Bias Vucereyich, Broker 203 Consolidated Royalty Building Western Exploration - 2.26 2.50 Consolidated Royalty — 5: 9,60 Central Pipeline -. 65 60 BE. T. Williams a“ 16 Bessemer .-...... a2 4 Western States . 08% 10 Kinney Coastal .. 08% 09% Columbine 05 07 Jupiter 03% 04 Elkhorn 04 06 Domino 05% .06% Royalty Producers 08% 04% Sunset 00% Preston Oil, 1,000 ----. .50 1.00 Buck Creek ~-..--.--- .13 Bia McKinnie --. 15 20 Chappell ad 16 Riverton Pet 2.76 2.85 ATEO onne. 5.00 Crude Market $1.79 1,87 1.15 15 1.90 1,90 1.90 1.90 75 1.76 1.25 +70 216 1.66 1.06 1,06 1,30 65 135 THE CASPER. TRIBUNECHERALD ~HERALD WHEAT PRICES SOAR IN WINDUP OF WEEK Unfavorable Crop’ Reports from Argentina and Cash Demand at Winnipeg Big Factors in Late Demand CHICAGO, Dec. 5,—Rapid new gains in price gave the wheat mar- ket bere a flurried windup today Late reports ‘suggested further un favorable crop conditions in. Argen tina, and with indications of active demand for cash wheat at Winni peg and elsewhere many traders turned: aggressively to the buying side in the‘final half hour. Chicago closing prices for wheat were strong, 2%e to 3%c net higher, new style December $1.77% to $1.78 and May $1.73% to $1.78%. Corn finished to 1Kc up, oats at %e td %e to advance, and provisions unchang to 20¢ lower. In contrast with the outburst of strength at the last, the wheat mar- ket averaged lower much of the time today. This tvas ascribed more or less to early reports of better weather in Argentina and to an- nouncement that the amount of wheat on ocean passage showed an increase of 6,450,000 bushels com | pared with a_ week ago. It was noticed when prices declined, how ever, that offerings dwindled and that the market gave evidence of surprising power to rally. Would. be purchasers were also encouraged by the fact that the Liverpool mar- ket had failed to reflect fully the of wheat today, and smaller fry who tempted to Join found little for . he result was that the final market up in some Ze above the day's and to 14%c up fer Taken as a whole, the news was mixed, with in some sections and in. others. and oats displayed stubborn resistance to selling pressure and proved responsive to reports of ad- verse weather over the corn belt ovisions tended downgrade, act- in line with the hog market, Open High I bottom figu rain C . old. new- old 1.68! decline yesterday in America, Some of the larger speculators ! were conspicuous in the Inte buying Jo BABSON DISCUSSES THE STOCK MARKET Buyers Always Turn Sellers at End of Rising: Market, Statistician Points Out in Review of Exchange Trading BABSON PARK,,Mass., Dec. 5.— In view of the abnormal condition of the stock market, Roger W. Bab- son was today interviewed: as to his personal opinions thereon. statement as giyen to us is as fol low 2eople look upon the stock mar- ket as some mysterious thing which is manipulated in some mysterious way. The general feeling is t the stock market is purely an art ficial affair rigged by insiders who pull wires to make it go up or,down. Without doubt, manipulation is « feature in connection. with Individual stocks; but: it is very difficult, if not impossible, for any interests to manipulate the major movements of the stock market. Supply and Demand, “These great major movements come about fromi a change in funda- mental conditions. These great changes may be anticipated by in- vestors through the study of such barometric subjects as bank clear- Ings, foreign trade, employment statistics, car loadings, and espe- cially commodity prices and money rates. Fundamental eonditions de- termine the action of the people of the country and especially their psychology. When business cond!- tlons are good, people are optimistic and there are more buyers of securi- ties than sellers. When business conditions are bad, people are pessi- mistic and there are moré sellers of securities than buyers. Fortunes are made in the stock market not by waiting until there {s a change in bus!ness conditions, but by study- ing the various barometers or indi- cators of business which foretell the actual changes. In other word: the sequence is ng follows: First, @ charge in the barometers; second a change in the underlying or funda- mental economic conditions; thirdly, a change in the attitude of the peo ple; fourthly, an increase in bu mpanied by an incre and fifthly, an security prices. “After prices have for a year or the reverse process takes pl The ness barometers begin to indicate a change in fundamental conditions such as a tightening in money rates or a strengthening of com- modity prices, Immediately these indications of a change in funda- mental conditions are seen by keen investors, they begin to sell securl- tles, Gradually these changes are recognized by more and more people until there are more sellers of #e- curitles than there are buye: Then the market begins to decline. It surely seems as if we had reached or were approaching such a point row. Of course, often for some time buyers and sellers will be about equal. In such a case the market hangs around the top and neither goes up nor down. Gradually, how- ever, more and more people begin to notice these indicators of un favorable conditions and decide to sell, Sooner or later the sellers al- Ways exceed {n number the buyers and the market tumbles. The Building Boom. “The present stock market rise has been greatly helped by the re- markable boom in building whieh this country has witnessed during the past few years. This has reached extraordinary proportions ¢ figures beyond the most optim- {atic hopes, Of course, this build- Ing boom cannot always continue and in certain cities It has already reached {ts height. As a part of the building boom--and each fs de. pendent on the other—the automo: bile industry has ‘expanded with Great rapidity. If the automobile manufacturers produce as many tors which always provide fertile ground for advancing stock market prices. Easy money ‘uch as we have been enjoying the past two His| years always tends for higher stock market prices. od wages with general employment provide the basis for large retail saJes which in turn keep the wheels of industry moving. During the past few years this situation has been greatly aug: mented by a 1 development in instalment sales. Short Selling. . “ Many wonder why the market comes back so quickly after each break. The reason for this is that there has been more short selling during the past year than perhaps ever before during rising market. When legitimate sales are made— and of course there always must be seller when there is a buyer und vice versa—the transaction is com- pleted when the sale is made. In the case of short selling, however, the transaction is not completed when the sale ig made. The trans: action is completed only when the seller ‘covers’—that is, buys back the stock at a lower price to enable him to deliver w he previously sold. During the past year certain inyestment counsellors and eco- nomic services that were wrong on the market-were not content merely to advise their clients not to buy stocks but went further and advised them to sell. Hence there is a big short interest in the market and whenever there is a break this short interest seizes the opportunity to cover their commitments. Legitl- mate selling tends for, a decline in the market but short selling— strange as it may seem— tends to uphold the market and defeat the very purpose of those who sell. If many speculators happen to sell the same stock short, they may sell and promise to deliver more in the ag: grvegate than the entire capital of the company. Then a corner de: velops and the price of that stock hoots abnormally high and thos whi 1 nort get a ter ick A fear f such a ce acco! ‘i today for the abnorm h price In. certain ocks espec in the e of one or two motor stocks which are closely held. “Whether one buys or sells stocks is one’s personal business and it is not the function of any newspaper to advise its readers in connection thereto, Those who buy stocks merely for income need not be con cerned as,to whether they’ go: up or down, so long*as the dividend continues, Of cour many stocks will have their dividends cuf, but many others can continue thelr pres: ent rate of dividend for many years to come and will so continue it fr- respective of the market price, All holders securities, however, should ri » that the present high stock ma et prices will not indefi nitely continue. Sooner or ‘later the sellers will exceed the buyers, and then pric will begin to decline. ly ree: As soon as the public gen: ognizes that the great major move ment of prices {s going downward then th sellers rapidly ine: se, and the buyers rapidly decrease. ‘This has always happened in the past and will always happen in the future. Moreover, when there has been a very rapid increase in prices and when prices have gone to great heights as is the case today the de cline j# all the greater, and the chance of a panic all the more se vere, Those who do not wish to hold securities during such a decline should most carefully study bus! conditions and should watch all se curity barometers. The Babson chart todays stands 16 per cent cars in 1926 as they plan on, there must of necessity be a lot of surplus cars. “There are, of course, other fac- Above normal compared with 9 per cent above normal a year ago." Give Her a Chevrolet for Xmas, PAGE NINE Stocks and Grains Livestock Chicago Prices CHICAGO, Il, Dec. 5.—(U. 8. De- partment of Agriculture,}—Hogs— Receipts, 8,000; uneven; mostly 10 to 15c lower than Friday’s average; killing pigs unchanged; bulk desir- able 200. to 300-pound butchers, $11.10 to $11.20; bulk better 140 to 180-pound weight, $11.25 to $11.50; top, $11.80; bulk packing sows, $9.40 to $9.90; majority desirable killing pigs, $11.75 to $12.00; shippers, 2,500; estimated holdover, 4,000; heavy weight hogs, $10.90 to $11.20; light light, $10.60; slaughter pigs, $11.25 to $12.00. Cattle—Recetpts, 1,000; compared with week ago; beef steers of value to sell at $9.00 downward and good choice heavies, strong to 26c higher; stockers and’ feeders sharing ad vance; light and medium weight fed offerings around steady; shipping mand broadest for kind, scaling 1. pounds upward; paid extreme top, $14.00 butlocks; best lings, $18.00; some highly fin- ished steers and heifers offerings. $12.75; fat she stock, 26:to 75 cents higher; heifers showing maximum upturn; canners and cutters mostly for 1,420-pound 10 to 15¢ up; bologna bulls, 15 to higher; vealers mostly steady; light . around 25 prices follow: Fed steers, $9.00 $11.25; grass steers, $7.50 to $8.5 fat cows, $4.35 to $7.00; heifers, $ canners and cutters, $3.85 veal calves, $10.25 to $11.00; stockers and feeders, $6.75 to $8.00. heep—Receipts, 1,000; for week around 1,600 direct and 18 double ks from feeding stations; com ; fat lambs, cull yearling wethers c lower; week's bulk to fat and feeding Iambs at 25 to 50c higher fat aged sheep, 60c to $1 higher; Ul classes scoring new top for cur fat lambs rent season: week's top $17.10; fat yearling wethers, $14 feeding lambs, $18.50; fat aged wethers, $11.75; fat ewes, $10.00. Anglo Am. Oll - = 18» 118% Borne Scrymser - 220 230 Buckeye --.--. - 5A% 53% Chesbrough Mfg. Gtr Bir: | Cohtinental Oil .. ~ 25% Crescent - 151% reka . = 63% 1. Sig. common Gal. Sig. old pfd. Gal. Sig. new pfd. Illinois Pipe - Indian Pipe National Transit New York Transit Northern Pipe Ohio Oi International Pet, Penn. Mex. «. Prairie Oil a Prairie Pipe - x Solar Refg. - So. Pipe --- 80. Penn. Ol 8. W. Penn. Oil jLobor 8. O.. Ind. Oo, Kan. 2 Ken. § . ON. Ss) ry Ohio 8. O. Ohio, “pf. Imperial --. - 26% 27% Vacuum - - 101% 101% Washington 45 8. O. Neb. - 242 245 Stock Opinions By Hill, Weaver and Company. Block Maloney—There appears to be a considerable interest remaining in stocks and {f so this rally should go further with a broader upswing in the generai list, Jed by olls, rails and steels. Pynchon and Company—We are optimistic on the rails, oils and the steels and believe that the market leadership will gradually change around to these issues and we feel the best opportunities for profits are in these groups. Hornblower and Weeks—With bul- lish developments {mmediately ahead in the way of mergers, stock divi- dends and dividend Increases, we see nothing to retard the advance and we find sufficient reason for its ac- celeration. Buying in U. 8. Steel is again of a character which suggests mothing more than a trading rally, Livingston and Company—In the rail group we still belleve C. and O, Southern Railway, B. and O. and New York Central will go higher. Oil Summary | By Hill, Weaver and Company Marland Ojl 1925 earnings esti- mated at $25,000,000 before charges by BE, W. Marland, It 1s said Vacuum Ot $12 per share this year. will earn Standard Of] of New Jersey ad- vanced kerosene 1% cents, Prairie Pipeline November ship- ments totaled 3,850,760 barrels of ude ofl or 128,359 a day against 990,645 in previous month, or 128. 407 a day, and 9,502,938 in Novem ber, BE. W. Marland returning from Europe said: “If the current supply gets below demand there will be an increased price of oil and the corre sponding increase in earnings. 1 ex- pect to see the supply below de mand at the end of the year and. I have not seen the ofl industry in such a good condition in five years.” Mr. Marland said ho saw ap enor- mous Increase in the number of au- tomobiles in use in Burope and that the percentage of Increase of this year oyer last was much . greater than in the United States. He pre dicted the demand for gas and ofl in Europe will increase enormously in | thied NEW YORK—The following are today’s high, MARKETS NEW YORK BONDS low and closing prices of bonds on the New York Stock Exchange and the total sales of each bond. qu. 8. Liberty Liberty biberty Liberty Liberty Liberty Liberty v. G 3%s ist 2nd Ist 1A Dom. of Canada French Republi Japanese Govt Kingdom of Kingdom of- Norway Rep. of Chile § State of Queensla Bs 1044. U. K. of G. B. & I. DOM Amer, Smelting Amer, Amer ant Anaconda Cop. Anaconda C At. T. & Zalt. & Ohio cvt Bethlehem Steel con. Canadian Pacific deb. 48 Chic. Burl. rfg. 5s Chic, Mil. St. P. cvt. 4%s- Chile Copper: 6s Goodyear Tire, Great Northern Great Northern 5s Montana Power 5s orthern Pacific rfg. orthern Pac. new 68 Northern Pacific Hen Pacific Gas & Elec. 5 Penna R. R. gen. Sinclair Con, Oi} 6s 19: Southern Pac. ovt. 4s Union Pacific 1st 4 U. 8. Rubber 5s Utah Power & Light 5s Western Union 6% - Westinghou: cP Wilson & Co., cyt. 6c. Total sales of bonds today wer previous day and $5,437,000 a year a 7s, 6s B-. D.. yernment bonds in dollars 01 and thirty-seconds of 4 86 99.28 2 4 106.14 4 101% 4 93% 100% 1004 2 108% <<. 18 104% 10434 21 8 FY 13 24 3 16 31 4 54 1 3 10 1 108% 108 5 85% 8 102 10 22 90% 90% 6 106% 106 ars) 101.33 101.8 108% @ $6,340,000 compared with $10,965,006 gO. MARKET GOGot? By Hill Weaver & Co. Dun's reports 422 commercial fall ures for week against 383 In preced ing week and 427 in same week in 1924. Bradstreet’s finds wholesale: opera tions tending to decrease but trade tending t pand holidays ap h trial operations bet+ 8. 8. company November sales were $9,425,235 against $8,- 174 in November, 1924. Marshall Field says current whole- sale distribution of dry goods was not quite equal to Iast week's volume but exceeded same week of 1924. Collections were not up to the same period of 1924 Richmond. Radiator declared a dividend of 16 2-3 cents on new pre- ferred payable January 11 to stock of December 1. This is In addition to quarterly dividend of $1.75 on old preferred payable January 15. Old preferred was split some months ago on a basis of 3 for 1 so that 16 2-3 cents payment makes rate for final quarterly 25 cents, Baldwin Locomotive booked 25 locomotives for St. Louis, San Fran- cisco. Union Pacific contemplating purchase of 24 engines and 2,100 freight cars, Railway. Signal General books order for installation of signal equipment of Lehigh Valley and L. & N. British government lifts all. re- strictions on export of rubber from Ceylon and Malaya, according to London dispatches. General Gas and Electric declared regular quarterly dividend of 37% cents on common, payable January 2 to stock of December 1, Common stock h sn take the divi dend in cash. or a tl to sub share to extent of cash amount of their dividend. On basis of present market for General Gas and Electric class A common of around $590, the dividend in stock is equal to about 89 cents per share quarterly. Averages—20 industrials 154.6 up .80; 20 raila 107.82, up .52; if bonds 92.60, up .06 ale RS | Grain Opinions | By Hill, Weaver and Company, J, 8. Bache—Feel that wheat will before bull movement work lower fs resumed. Hi trade atior ‘The average will do well to confine oper grains for the pres Would buy corn only. Stein Alstrin—The dec eoms\ likely. Bartlett Frazier — Wheat 1 large technic: sardle high go ultimately, Liberty Bonds NEW YORK, Dec. 5.—(P)—Lib erty bonds closed; 2%s, $99.28; first 4s, $10 second 44s, $100 44s, $106.6; fourth 4%s, U. 8. government 4\s, 8 to coarse ine In wheat influ, al conditions prices may en $102 $106.10, atric the next few years. Marland closed 69%, Pan Amert- can “B" closed 78%, both ought to be bought as they act well and high. er prices are expected shortly, Silver NEW YORK, Dec. 5,—()—E ver 69%; Mexionn dollars, 53% thr —_ Drink Hillcrest Water, New York Curb By Hi, High 8. oO, 8.0. N. Ohio OW .. Humble Oil Continental Ol! Ind Prairie O. and G. Salt Creek Prods. New Bradfo -- Imperial Mt. Prods Li Pet. .. P. and I. Creek Cuns. New York Oll Qlenrock MIAMI, Fla.—The Miami! freight and are crowded as the nearly as rail termin ing in motor trucks. ST. LOUIS—Negotiations in progress for a site for plant here to be erected t eral Electric company. The proposed 25,000 workers. plant employ and Dyers PHONE 802 JAKE The Nifty Tailor (ERE COME THE MONTH the French Dry Cleaners Weaver and Company, Le Close 66% Business Briefs doch cs are becoming heavily congested with badly als, large percentage of the freight now being shipped to this region is com- an A are now Gen- come pany is said to be seeking 165 to 186 acres, would THE BEST IN SERVICE We Call and Deliver STO HILLYOUR SOUL --IT'S TIME 0 BUY YOUR WINTER COAL! Natrona Transfer, Storage & Fuel Co. Wanted to Buy Any part of ,000 shares E. T. Williams If you have any of thi get in touch with me at t on Blas Vucurevich BROKER Phone 166 208 Consolidated Royalty Phone 1151.) Bldg off i i