Evening Star Newspaper, August 26, 1923, Page 26

FINANCIAL FINANCIERS WATCH DOMESTIC TRADE Definite Fall Trend Being Awaited—*‘Cycle Theory” Also Market Factor. WHEAT MUST COME BACK Erie Issues Week's Biggest Sur- prise—Huge Surplus of Gold Still Piling Up. BY GEORGE T. HUGHES. Spectal Dispatch to The Star. NEW YORK, August week’s trend of the in speculative markets there has been little to throw light on the Immediate business future. speculation has been cntirely professional, and investment . ings have been on too small a scale to be of significance. is the natural state of affairs for snificarnt. however, that a more cheerful feeling pre 1s. This appea the resistance which spe ulative securfties show to unfavor able news developments and in the ready absorpticn of such few new in- vestment o < have appeared At the samc is too much ive move- Nor is it on will be tlook for do- fall becomes plain W great many bus a5 investo the s unul the in th ueu,u‘ so-called R rdxl & to which the dy progre Brity to depression and back agmt The esult iy that the present g crally 1a i s looked apon than complane of mind it will take something pretty definite perm Iy to tyrn the markets. favorable Factors. The unfavorable features of uation have been repeated cussed. These are the low price some agricultural products, low in comparison to the general price level, and the failure to reach any sqlution of the reparations problem abroad. To these has been added concern over the effect of u possible suspension of work in the anthracite coal region A hard coal famine would bear heav- ily upon householders in New Eng- and the north Atlantic coast but would not necessarily general business, which is de- more upon the supply of bi- The hard coal operators ilroads, the chief traffic of in hard coal, would, of hard hit, but the public ey and manufacturing generally would go on about as usual. A sym- pathetic walk-out ‘on the part of the s0ft coal miners would be much more not considered So it comes 1l trade condi- indicia—bank and steel and being closely and the r Ze. carloadings production—are ed. Wheat Must Later Come Back. As far as wheat is concerned what- ever may be the temporary course 6f the market no product permanently sells below the qopt of production. While in the gormal ofder of things it takes a yea® for peadjustment of production to consumption in the case of a farm product speculation may be t h\l to_ anticipate such readjust- me And while the control over Erein trading exercised under the new aw has been blamed for a great many things, it is highly improbable that this control will be used to hamper any » in the price of whed no matter what the source of the buying that advances the quo- tations, The situatfon abroad may be dismissed with the observation that the more prolonged the deadlock the wmore impossible it is to believe that a way out will not be found. Erie Issues Big Surprise, The w spectacular _demonstration and bonds of the Erie rail- ad, whi worthy b in railroad securities general Zven those Wall street profession- who have been urging For the past half year the purchase of railroad stocks because of record car loadines and excellent earnings statements, ve begun to waver. The advance i securities, therefore, was 4 phenomen for which there was no ready explanation. It came more- over, in the ce of a threatened coal Btrike which_ if. it materialized, was sure to cut profits. Other roads also have made re- marks +9 in recent months. but there been no activity in their obligations. The s ion that some new interest endeavoring to gain control counts for the strength in s better bonds, which, in was as pron unced as the rise in the stock. La er, however, this theory of buying fromi A special source was the bsst available. Problems Facing Raill Stocks. For the balance of the year rail- road shares will be under the con- flicting ‘nfluence of the peak traffic, which comes in the fall, with the corresponding Increase in gross earning the doubt as to the effect of ductions be demanded. The one on behalf of the rallroad brotherhoods and the other on be- half of the agricultural shippers. ‘There will also be uncertainty as to what the new Congress will do with present railroad law. On the it looks as though the un- favorable factors outwelghed the favorab It must not be overlook- ed. hewever, that a good deal of the troubles to which the railroads have fallen heir may have been discounted in_the present vrice of their se- curities Gold Surplus Still Piling Up. Any review of the financial situa- tlon “and of the securities markets would be incomplete without some reference to the =old movement. During the month of July gold ex- orts were $522.826, the lowest since March, 1921 Imports were $27,929.- 444, The latter were exceeded this| year in January and May, but the excess of imports for —the seven months amounts to $137,047,531. Tt {8 hard to see how prices can fall {n the face of this great gold surplus. NORFOLK & WESTERN NET AFTER TAXES, DECLINES ROANOKE, Va. August 25—Last month the “Norfolk and Western | i azalncr $7.543.224 in 1922 " Net clined to §2,209,- and there was also a $1.6 "m., loss shown in the net after taXes, as compared with $2,108.239 in the preceding vear. Gross income decreased to $1,901,- 695, contrasted with $2.268.163, while the surplus fell to $1.513,280, against $1,844,183 in 1922, This sum remained after payment of interest due on some of the company’s obligations. For the seven months operating revenue declined slightly to $53,563,- 597, against $53,589.879. Net after taxes dropped to $8,632.279, against $14,409,008 in the previous year. For the same period gross income of $11.- 336,681, compared with $16.279,092, while ‘the surplus fell to $8,634,268, from $13,221.227 in the corresponding time last year. ——— Music broadcast by wireless from Glasgow was heard by miners 330 feet below ground, at a distance of nneen_ aniles from the city, speculative | 1 ——1022 201 14 304w 61 6 135% 79 100% 116% 124% 64% 147 53 10% 35% 864 98% 11% 6615 151% 441 82% 245 46% 9% 79 106% 12% % 105 % 134% 44% 35 95% 45% 345 14% 94% 103 27% 82 9% 53% 119 Advance Rumley Alr Reduction. Ajax Rubber. Allled Chemical e! Allis-Chalmers Mfg. . —— Am Agriculture Chemical. -—— Am Agriculture Chem pf.. 5 3 American Bank Note pf —— American Beet Sugar. .. ~—— American Bosch Mnxne\u 5 Am Brake S & Foundry. 5 AmericanCan... 7 Amerlean Can pf 12 American Car & Foundry. 50c Am Chain class A w 1. —— Amerlcan Chicle. —— Am Chicle pf. ... —— Amerlcan Cotton Oi1 ~—— American Cotton Oll pt. —— Am Druggist Syndicate 6 American Express American Hide & L —— Am Hide & Leather pt 7 American Ice 4 — American International ——— American Linseed. . 1 AmLaF Fire Engine. 6 Am Locomotive (new). 3 American Metal. 4 American Radlator £ 25¢ American Safety Razor. .. Am Ship & « ommerce. 5 American Smelting & ReL 12 American Snuft 3 American Steel Foundry.. —— American Sugar Refining. 7 Am Sugar Refining pf. ~—— Am Sumatra Tobacco. —— Am Sumatra Tobacco pt. . 12 697 137 American Tobacco. Am Tobacco Class B. Am Tobacco pf (new —— Am Water Works & Ele Am W W & Elec par pf. Am W W & Elec 1st pf American Woolen... American Woolen pf —— Am Writing Paper pf. ~—— American Zinc Lead & 8 Anaconda Copper. Asso Dry Goods Associated Oil. . Atchison, Topeka & S Fe. . Atch, Topeka & SFepf... 88 —— Atlanta, Birmingham & At '1% 7 Atlantic Coast Line... —— Atlantic Gulf & W I. 6% — Atlantic Gulg & W I 99‘5 4 Atlantic Refining. 4 Atlas Powder (ne ——— Austin Nichols. . 3 Auto Knit Hoslery 7 Baldwin Locomotive 4 —— Baltimore & Ohlo..... 4 Baltimore & Ohlo pf. —— Barnsdall, Class A. —— Barnsdall, Class B. 240 Beechnut Packin 6 Bethlehem Steel. 7 Bethlehem Steel pf new... 8 Bethlehem Steel 8% pf 8 Brooklyn Edison Electric. 109% i, — Brooklyn Rap Tr full paid 31% 2 Brown Shoe 10 Burns Bro 2 Burns Br E0e Butte Copper & 2 Butte & Superior 4« —— Butterick Compan; 6 California Packing 1% California Petrolm (new). 7 California Petroleum pf —— Callahan Zinc & Lead. Canadian Pacific. 4 —— Central Leather Co pf. 412 Central Railroad of N J —— Century Ribbon Mills. 4 Cerro de Pasco Copper. 6 Chandler Motor. 4 Chesapeake & O! 63 Chesapeake & Obio pf. —— Chicago & Alton. . % —— Chicago & Alton pf. .. ~—— Chicago & East Illinols. .. ~—— Chi & East Illinols pf..... —— Chicago & Great Western. ~—— Chicago & Gt Western pf.. —— Chi, Milwaukee & St Paul. —— Chl, Milwaukee & St P pt.. 5 Chicago & Northwestern. 6 Chicago Pneumatic Tool. Chi RI& Pacific 7%. 5 Chicago,5tP,M&O 24% 2% Chile Copper. 16% —— Chino Copper. 7% 4 C,C,C&StL. 60 5 Cluett-Peabody. 72% ‘7 Coca-Cola. —— Colorado F' 260 Columbla Gas (new). —— ColumblaGraphopho: 4 Columbla Carbon. 6 Comput Tab Record. 4 Continental Can. % —— Continental Motors 7% Corn Products Ref. 4 Cosden Company 4 Crucible Steel —— Cuban-American Sugar. .. —— Cuba Cane Sugar. . — Cuba Cane Sugar pf. —— Cuban-Dominican Sugar.. 1 Cuyamel Fruit. 4 — Davison Chemical —— De Beers Mines 9 Delaware & Hudson. 109% 6 Delaware, Lacka & West.. 116% 4 Dome Mines..... 45 6 Du Pont de Nemours. 6 Du Pont de Nem 6% deb. 7% Eastman Kodak. . = 4% Electric Storage Battery. . 5 Endicott-Johnson. —— Erle Railroad. . —— Erle Rallroad 1st pt. —— Erle Rallroad 2d pf. . 8 PFamous Players-Laskey 8 Famous Play- 7 Federal Min & Smelt pf. 6 Fldel-Phoenix Fire Insur. 108% 6d4c Fifth Avenue Bus. 10 Fisher Body.. —— Fisk Rubber. 13 Fleishmann Company. 6 Foundation Company. —— Freeport-Texas 3 General American Tank... —— General Asphalt. —— Goldwyn Plctures. .. —— Goodrich (B F) Company. —— Gogdyear Tire & Rub pf. 8. Goodyear Tire & Rub pr pf‘ ~—— Granby Consolldated.... 8 Hayes Wheel. 12 —— Hendee Manutf. 80 6 Homestake Mining. 28% 3 Household Product: ;g!fi —— HoustonOil..... Huppmobile Motor Car 7 Illinois Central..... ufi ~——— Independent Oil & Gas . = Indiahoma Refining. Sl% 2% Inland Steel... 27 2 Inspiration Copper 9% —— Interboro Rapid Tra: . 81 8 International Cement . Internat Comb Engin - 17, —— Internat & Great North... 71 5 International Har, new... :‘s:,: —— Int Merchant Marine pf... ‘national Paper International Shoe L4440 000 IERRRE AN S L2 8 S SARE! o) e o F s B R FFREXES FEF E8F FREE T4+4 1 1 +4+++ - F b+ h FFFIFS | @ * ;# +4++ 1+ +| F2R 2 s R a8 FER FESEEER e & nun;‘* - FREFE REF e R N N e R A A ] o "28ds - & ah -3 §8a83 :+|+ +li+1+1++14+++ 2 CEreRCeFarfes U% 4% 189% 110 67% 36 180 147% 144% 108 121% 13% 61% 26% 11 72 35% 69 68% 30% 1290% 85 117 108 2% 13% By 24% a5t —— Loew's, Incorporated. 12 Lorillard. P.. 5 Loulsville & Nashville. McIntyre Porcupine Mines —— Magma Copper. —— Mallinson & Co. 240 Manhattan Elevated gtd 6 Market St Rallway pr pt. 4 Marland Oll & Refining 3 Martin-Parry..... ~—— Mathieson Alkall. . —— Maxwell Motor, Class A. “— Maxwell Motor, Class B. 6 May Department Store: —— Mexican Seaboard. ... —— Mexican Seaboard ctfs 2 Miami Copper 130 Middle States Oil. —— Midvale Steel....... ~—— Minneapolis & St L new. 4 MStP&SSMleased lin ——— Mo Kan & Texas new ~—— Mo Kan & Texas pf new.. Missourl Pacific. . — Missouri Pacific pt. 4 Montana Power. . Montgomery Ward. 3% Moon Motors 1 Mother Lode Coalition. —— Mullins Body. 6 Nash Motors. 3 National Biscuit. 7 Natfonal Cloak & Sult pf. ~——— Nat Department Stores Nat Fnamel & Stamps t Rwys of Mex vada Con Copper. ‘New York Alr Brake. X Y Alr Brake class A New York Central *hi & w York, N H & Hart Norfolk & Western Norfolk & West pf. North American. . North American pf. Northern Pacific. —— Oklahoma Prod & Refin. —— Orpheum Creult. —— Otis Steel. 3 Owens Bottle. 6 Pacific Gac & Electric. 2 Pacific Ofl +1 Packard Motor Car. 7 Packard Motor Carpf..... 8 Pan-American Pet Trans. 8 Pan-Am P Trans Class B, —— Panhandle Prod & Ret 4 Penna Coal & Coke. . 3 Pennsylvania Railroad —— Penn Seaboard Steel. People’s Gas, Chica Pere Marquette. . Pere Marquette pf. Philadelphia Company. Phillips Petroleum. 4 —— Plerce-Arrow. —— Plerce-Arrow pf. —— Plerce-Arrow prio: —— Plerce Oil. 4 Pittsburgh Coal 6 Pittsburgh Coal pf.. 7 Pittsburgh Steel pf.. — Pittsburgh & W Virgint 8 Postum Cereal. = —— Pressed Steel Car 4 Producers & Refiners +4 Producers & Refiners pf... 4 Publi¢ Service new.. 8 Public Service 8% pf. 8 Pullman Co. —— Punta Alegre Suxlr 1% PureOll.. 8 Rallway Steel Springs. —— Rapid Transit w { —— Rapid Transit pt w —— Ray Consolidated Copper. nuquimh‘rq|lqmm —— Remington Typewrliter. ~—— Replogie Steel...... . ~—— Republic Iron & Steel..... 7 Republic IrLS!eel Plo.... ~—— Reynolds Spri: Reynolds Toblccn. B. o 352 Royal D N rshs 17_ 42 StJosephL.. T — St Louls-San Francisco. 6 St Louls Southwestern pf. —— Savage Arms —— Schulte Stores. 4% —— Seaboard Alr Lin 8% —— Seaboard Air Lin 65% —— Sears-Roebuck. 6 —— Seneca Copper. 6% —— Shattuck Arizona 126 1 Shell UnionOll. 90 6 Shell Unlon Oll pt. 6% —— Simms Petroleum. . 23 1 SimmonsCo.. 19% 2 Sinclair ConOll. 84% 6 Bouthern Pacific. 24% —— Southern Rallway. 5 Southern Railway pf. 59% 7 Stromberg Carb 98\( 10 Studebaker... Submarine Boat 256 —— Superlor Oll.. 8 1 Tennessee Cop & ‘Chem. 89% 3 TexasCompany.... 53% 6 TexasGulf aulphur. . 14 —— Texas& Pacific.. 7% 1 Texas & PacificC &o 9% —— Third Avenue.. 94 —— Tide Water Oil. 884 18% Timken Roller Bear 46% —— Tobacco Products. 76% 7 TobaccoProductsClass A. 104% 7 Tobacco Products pf. 3% —— Transcontinental O! 85% 8 Underwood Typewriter... 124% 10 Unlon Pacific... 1 %50 Dnited Drng. sZ 3% United Drug 1st pf. 2% — unlted sute- Food Prod. . 16 —— U S Hoffman Machine 40 —— U 8 Industrial Alcohol. 88% 8 United States R & Imp. 97% 7 USR&ImppL... 86% —— United States Rubber, 88% 8 U SRubbef Ist pf.. 6% — Virginia-Carolina Chem. 17— Va-Car Chemical pf 1% 2 V Vivaudou... 7% —— Wabash. .. 111% 7 Western Electric pf. 88% 2 WestPenn....... 9 ——— Western Maryland. —— Western Maryland 2d pf. ~—— Western Pacific. . 6 Western Pacific pf. 5 —— Willys-Overland. 42% —— Willys-Overland 86% 23 -—— Wisconsin Central 255 ll% IK 1 Wright Aeronautical. . 80 199% 8- Woolworth (F W 23% —— Worthington Pump. & Youngstown Sheet & .. 28 'BOND SUMMARY FOR THE’ m’ oy o ..w/l,:‘:)fi)p 9870 96-12 Liberty 2d4s 43, 9920 96-20 Liberty 1st 4148 1932-47 42 4 {99 sl 14/ i 99 ffl"o-l 25 Liberty 3d 4148 192 8586 9920 96-27 Liberty 4th 438 193 10006 98-1 Treasury 43%s 1947-i llmo?: E 90 SHigh Low" llfi- Low. 1084 108% 98% 103% 8339 99 101 10215 99% 104% 102% 104% @ s F Frea“sracads - “EaEFe 2xEOCR S s s¥asFas ot TR b4 LTI ++ 144 T+ 1+ + 4+ b 8% 69! 102% “ % 63% 288 mu 261% + 1 29% 10 9% . 60% 65% 663% + 1% 538 Dividend nu- as given in the above table are the annual cash pay- | ments based on the latest quarterly or half yearly e moted, extra or special dividens are got iaci Irll.! dacl-rauou. Unless | artly extray” High. Liberty 3158 19 9811 98-14 98-15 99-31 98+16 99-26 96-24 Liberty 2d 4348 192 Argentine 7s 1927 Bélgium 7ts 1945. 4 Belgium 6s 1925 Belgium 83 1941. Bordeaux 6s 1934 Brazil §s 1941 Canada 38 1926, Canada 635 192 4 Canada 58 1952 Chile 8s 1945, Chile 8s 1924, Chile 8s 1941. Chinese Govt Ry 63 195 Copenhagen 535 1944. Czechoslovakia §s 1951 Dénmark 8s 1945. Denmark 6s 1942 g Dutch East Indies 63 1947 Dutch East Indies 6s 1962 Framerican Ind Dev 7is 194! French Govt 8s 194, French Govt 7%s 1941 i Holland-American s £ 63 1947 Japanese 1st 4143 192 Japanese 2d 4%s 1925. Japanese 4s 1931.. Jergens Utd Margarine 6s 1947. Lyons 6s 1934. Marseilles 6s 1934. Mexico 65 1954. Mexico 4s 1954. Netherlands 6s 1 Norway 8s 1940 Paris-Lyons-Me Queensland 7s 1941 Queensland 6s 1947 Rio de Janeiro 8s 1945 4 Suo Paulo, State of, 85 1936. . Seine, Dept of, 78.......... 5 Sweden Gs 1939 s Swiss Confed s ¢ 85 1940 100 93 United Kingdom INDUSTRIAL AND MISCEL Amer Agri Chemical 7%s 1941.. Amer Smelt & Ref 1st os 1947 Amer Sugar Refining 6s 1~a1 Amer Tel & Tel cl tr 5 Amer Tel & Tel cl tr 4s )HZS Armour & Co 4%s 1939. 5 Atlantic Refining deb s 193 Bell Tel (Pa) ref Gs 1948. Bethlehem Steel p m 53 1936, ... Bethlehem Steel s f 69 1940 Brooklyn Edison 7s D 1940..... Central Leather s 1925. Cerro de Pasco 83 1931 Chile Copper 6s 1932. . Conas Coal (Md) 1st ref 68 1950.. Cuba Cane Sug cv deb 8s 193(. Detroit Edison ref 6s 1840. % Du Pont de Nem 1931. . Empire Fuel & Gas 7148 1937 5 General Electric deb bs 1952. 4 Goodrich (B F) 635 1947. Goodyear Tire 8s 1931. Goodyear Tire 8s 1941. Humble Oil & Ret 5i4s 1932 Indfana Steel 5s 19; Inter Mer Marine 6: Inter Paper is B 1947, Kelly-Springfield §s 19 Midvale Steel Gs 1936. New England Tel 58 1952. New York Edison 1st 6%s 1941. NYGas ELH & P Gs 1948.... New York Tel 63 1941. New York Tel 4%s 1939 North American Edison 68 1952 Pacific Gas & Elec 5s 1942, Pacific Tel & Tel bs 1852. Philadelphia Co ref 63 1944 Public Service bs 1959. Sinclair Oil 7s 1937. Sinclair Crude Oil GHI 1925 South Porto Rico Sugar 7s 1941. Union Bag & Paper 6s D. United Drug cv 8s 1841. U S Rubber 1st & ref 55 1947. U S Steel s f 58 1963. Utah Power & Light Va-Carolina Chem s £ 7a 1947 Va-Carolina Chem 7%4s '37 war. Western Union Tel 63%s 1936. 4 Wilson & Co 1st 6s 1941. Wilson & Co cv TH#s 1931. RAILROAD. 4 Atchison gen 48 1995.......... % Atlantic Coast Line 1st 4s 1952, Balto & Ohlo pr In 8%s 1925, Balto & Ohlo gold 4s 1948 Balto & Ohio €s 1929 Balto & Ohlo cv 4%s 1933, Balto & Ohio ref bs 1995.. B&OPitts LE & W Va 43 1841 B & O Southwn aiv 318 1925. ., % Canadian Northern 6148 1946 61 Canadian Pacific deb ds. 4 Carolina Clinch & Ohio s 193! Central Pacific 4s 1949. Chesapeake & Ohio cv 58 1946. . Chesapeake & Ohio cv 4%s 1930, Chesapeake & Ohio gn 43%s 1993 Chicago & Alton 3s 1949 . Chicago & Alton 3%s 19 Chi B & Quincy 1st ref 6s 19 Chi & Eastern Ill gen 65 1951 Chi Great Western 4s 1959. Chi M & St Paul ref 4%s 20 Chi M & St Paul cv 53 2014 Chi M & St Paul cv 4338 1932. .. Chi M & St Paul gen 4%8:1089.. - Chi & Northwestern 63%s 1936... i Chicago Rallways 68 1927...... Chi R T & Paclfic ref 4s 1934. Chi Unlon Station 4%s 1964 Chi Union Station 6348 1963.... 1 Chi & Western Ind con 4s 1962.. CCC & St Lref 6s A 1929. Cleveland Term G¥s 1972. Colorado & Southern 4%s 1935. Cuba R R 5s 1852, Delaware & Hudson 6%s 1937, Den & Rio Grande con 4s 1936. Den & Rio Grande 1st ref bs 1956 Detroit United 43%s 1932 Erie 1st con ¢s 1996. Erfe gen lien 4s 1396 Erle cv 4s A 1953. Erle cv 4s D 1953 Grand Trunk s f deb 6s 1936. Grand Trunk 7s 1940 Great Northern gen 7s 1936... Great Northern gen 5%s 1952. .. Hudson & Manhattan ref 68 1957 Hudson & Manhattan adj 5s 1251 Tllinois Central 6%s 1934 1 Inter Rapid Transit 6s 196 Inter Rapld Transit cv 7s 198 Inter & Great Nor adj 6s 1952 Kan C Ft Scott & M 4s 1936 Kansas City Southern 3s 1950. 83 Kansas City Southern 6s 1950... 925 Lake Shore 45 1928 90% Lake Shore 4s 1931 1003 Lehigh Valley 6s 1. 87% Louis & Nash unified 91 Market St Ry con 5s 1924 81 Mil Elec Ry & Lt 1st ref 101% M St P & S 8 M 634s 1931. 72% Mo Kan & Tex 1st 48 1990.. N 0 ‘Tex & Mex inc s 1935 . New York Central deb 6s 1935.. New York Cent deb 4s 1934.... New York Cent ref imp 6s 2013. N Y N H & H cv deb 6s 1948 :mu N Y West & Boston 4%s 1946 86% Norfolk & Western con 4s 1996 " 107% Norfolk & Western cv 6s 1929. 59 Ndrthern Pacific 3s 1947 81% Northern Pacific 4s 1997 1056% Northern Pacific ref lmp Ga 2047 99% Ore Short Line gtd 6s 1! 1 90% Ore Short Line ref 4s 19" 48 1961 88 Pennsylvania gen i‘i! )9“ 106% Pennsylvania 6%s 1936 92% Pere Marquette 81 Reading gen 4s 7. 60% Rio Grande Western clt 4s 1949. 72% RIArk & L 4%51934.......... 74% StLIM & S R & G 48 1933 65 StL & San Fran prln 4s A 1950 80 St L & San Fran pr In 6s 1950.. 68 St L & San Fran inc 6s 1960, 88 St L & San Fran 5%s B 1942, 70% St L & San Fran adj 6s 19566.... 89% Seaboard Air Line ref 4s 1959.. 22% Seaboard Alr Line adj 55 1949.. 58% Seaboard Air Line con 68 1946. 80 Southern Pacific cv 4s 19! * 83% Southern Pacific ret 71% Southern Pacific col 92% Southern Ry 1at b 1994 1 66% Southern 100 Southern %:' dcd 6%s 1 Third A adj 58 1960. . 94% Union Pacific ov 4s 0% Virginian 1st 58 1963. M Wi 1st 8s 1939 59% Western Maryland 4s 78 Western Pacific 5s 1941 77 West Shore 1st 4s 236T. Prev. week's Close. FINANCIAL Low, g4 100 98-10 98-10 98-27 98-10 99-16 . Low. 4 102 WEEK Last, Yield. mo. 350 413 ‘J§~10 439 12 99-26 427 Last. 102 98% 99% 95% . lturn for the better in ge | the grape industry hes STOGK LIST DRITS *INSHORTSESSIN, Leaders Suffer Slight Losses in Saturday Trading—Oils Again Under Pressure. [FRENCH FRANCS ADVANCE * Davison Chemical Jumps Seven Points—Bank Loans Increase. Cosden 0il at New Low. By the Assoclated Press. NEW YORK, August 25.—Stock prices drifted downward in today's relatively qulet half session. Specula- tors for the decline resumed their at- tacks on the oil shares, using the cent cuts in dividends as an ex but they made little headwa were pointed upward tow as a result of buy aid net wish to over the week end. terly dividend of whici half a hange market. Demand fairly steady around $45 drachmas advanced 2 cents on light tradin, The weekly clearing ment showed increas in loans, discounts a $2,750.000 in cash 241,000 in _th totaled $501, excess reserve of § crease of $9,802,060 fore. CURB STOCKS MAKE SLIGHT GAINS IN WEEK i By the Associated Press, NEW YORK, Augu price trend was lacking market the past X Iness and frecsulac to showed a light gain over a we and some took this to mea i conditions had begun. There some increase in publfc participat Lut the greater volume of busin: s was again for the account of prof:s- sionale, who, on the whole, secen.cd less disposed to line up on the bear side. The 1ist has been tested and founa to .exhibit more ro oil stock the brur oI' m«ll(nl: for some past. Standard Oilx, from 2 to 10 points w price war started, {cred pendent about where they’ started to deci OPPOSE FRUIT EMBARGO. ALMERIA, Spain, August vices from New York announcing thie embargo on the importa! of frui from foreign countries is causing con- siderable alarm am. the vinevard proprietors of this province. sert that the fly epidemic said to be the underlying the embargo does not exi 1 | vineyards, Merchants { organizations have ap forelgn minister to take act be ruined. BALTIMORE PRODUCE. BALTIMORE, Md. demand for strictl “ 102‘ H 67% 101% Y% 51% el 100 | 73% | In 86 | 8% | 5i% | 543 | 57l 1033% 113w 1064 978, 82% 6114 100% 63% 873 364 5% 69 i entirely on ade of eggs are com- rket closed Held, stale, of uncer- new {the arrivals from da paratively light and firm at 25 cents a dozer mixed eggs, however, are tain value and slow salc. Prompt and liberal shipments are advisable in order to bring top quotations. » The "demand is fairly good for the large sizes of live spring chicke weighing around 2 pounds and s and of this sort there is s in the daily offerings. o medium and smaller sizes of springers weighing from 1% pounds il pounds are in full supply and such had to be sold at some discount. Old hens steady on desirable fat stock, but small fowl are hard to move price. Springers will bring a pound and_leghorns, 20 to hens, 18 to 25, while leghorn bring over 20. Old plentiful at 15 and 16. attract attention only where average upward of 31 to 4 pou which sell at 20 to 24, but_sma poor are neglected at 18. Marke; Spring duck: 1% bigeons continues dull at 20 to pair, while young guinea fowl pounds amd over are in good demand at 60 cents each and 40 to 50 for smaller, Market for hite potatoes is flm»fi on well graded stock at 3 per 100 pounds and 75 t bushel, but uncertain = h movement on latter slow and uncertain. Sweets and yams are lower, as the receipts run heavier. Demand fairly good for No. 1 stock, where it runs regular, at 4.00 to 5.20 a barrel, but considerable of arrfvals are what is termed “topped” shipments, and on such the value {8 uncertain Native and nearby continues in ample supply, and with receipts fairly liberal on all lines the market rul ¢ at the following sn w 1.00 a .35; limas, garden truck . quotations: Green and wax beans, bushel; stringless, 1.00 to 1.50 and car- rots, 4.00 to 6.00 a hundred; cabbage, 5.00 to 10.00 a bundred; corn, 10 to & dozen; cucumbers, 75 to 1.00 baske eggplants, 25 to 50 basket; peppers, 15 to 50 a basket, while ntedle will bring 40 to 50. Squash 23 to 20: tomatoes 40 to & a basket and packing onions In lighter receipt, and g00d market Tules 0 a hundred pounds. apple market shows litue change from last week and rules easy at to 3.00 a barrel for early June, 75 to 1.00 a bushel and 25 to 1.00 & basket. Blackberries and huckleber- riey are in liberal receipt and mar- ket is easy at 15 to 20 a quart. Kast- ern shore cantaloupes are runnin lighter, and while there is a !0\% 93 96 4% 95% 60% 79 | demand for native fruit receipts other sections will not bring top quota tions of 50 to 1.25 a te and 40 to 75 a basket. Peaches have been in heavy receipt and fully ample fory all trade demands at 1.00 to 2.50 and} 50 to 1.00 per basket. Shipments of ' only large Al fruit iv advisable, as small, poor stock is neglected evem, at sharp discounts, B 2 o