Evening Star Newspaper, September 11, 1924, Page 28

FINANCIAL NEW YORK STOCK EXCHANGE RAIL SHARES WEAK IN STOCK MARKET Many Losses Recorded Dur- ing Day—Some Strong Spots Also Noted. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, September 11.—In to- day's stock market the c f point of discussion was the outcome of the St. Paul Railroad situation. At the open- ing efforts were obviously made to bid the stock up for the sake of pro- ducing a condition more favorable to unloading. After St. Paul preferred had sold around 21 and the common at 12%, selling broke out again. Ex- pert opinion was that even at the reduced prices the stocks were out of line with the junior bonds, which at Jeast would get something out of any reorganization that might occur. 1In other words, the bonds were selling relatively lower than the stocks. 0il Shares Also Weak. The estimates current Wednesday on crude oil production, in which a small decrease was shown, were con- tradicted by the American Petroleum TInstitute, which came out this morn- ing with figures indicating an in- crease of 7,800 barrels daily during the week ended September 6. This had its effect upon the oil shares, not in bringing about any important sell- ing, but in stopping at least for the time being operations for the rise. Other Northwestern railway shares felt the effect of the St. Paul difficul- ties, although their cases are not at all parallel. her Great orthern or Northern Pacific as any early maturities to face. The former is earning at the rate of 712 to 8 per cent upon its stock, the latter a little over 6 per cent. Both pay per cent dividends and return at present pric around 8 per cent. Great Northern preferred at one time today was off 2 points. while North- ern Pacific was conspicuously_weak. Other Stocks Irregujar. Specialty moves were once more quite irregular. Among the public utilities Brooklyn Union Gas W bought again in expectation of an in- crease in the dividend from the pres- ent $t to $6. North American was supported around 30. Department Store shares were taken up again, particularly Gimbel, R. H. Mack and Associated Dry Goods. Hartman Cor- poration continued under pressur because of the feeling that the full §4 dividend no longer seemed safe, De- spite the firmness of the crude rub- ber market, the principal rubber shares were unsteady. Weakness in Stewart-Warner was due to reports that even the reduced dividend of $5 a share is not being earned and does not appear likely to be earned dur- ing the remainder of the year. This led to the discussion of the chances of another cut. Time Money Easier. TUndoubtedly there was a direct connection between the further eas- ing in time money and the announce- ment that the latest issue of Treasury certificates had been heav over- subscribed. These certificates have been put out at 2% per cent, the same as the last time, but with the important difference that they are to run for 12 instead of 6 months. Had the Treasury authorities figured an early change in money conditions, this lengthening of the maturity period would scarcely have been ven- tured. But the fact that the offering was so readily taken showed that the preponderance of banking opinion agreed with the Treasury that higher money rates were still some distance off. Sterling Exchange Up. Tn the last hour and a half the stock market strengthened generally. The street refused to put much con- fidence in the new figures on oil pro- duction, contradicting those of Wed- nesday. Oil shares were the leaders in the little buying movement which developed in the final trading. Sterling exchange was up more than a cent and others of the principal European currencies were somewhat higher. MARKET CLOSES STEADY. Short Covering Helps Trading in Last Hour. ‘W YORK, September 11.—Stock prices displayed a firm undertone in today's quiet market. Except for a temporary show of weakness by some of the grangers there was a marked absence of selling pressure. Short covering toward the close brought about a moderate advance in a num- ber of industrials, the rails improving in_ sympathy. Sales approximated 6 00 shares, The closing was steady. Rallying tendencies ugain predominated in the late trading. Certain-teed Prod- uets preferred rallied 5 points in re- flection of the directors’ proposal to retire the issue, and General Baking jumped $ Markets at a Glance NEW YORK: Stocks—Firm; high- priced industrials show big gains. Bonds—Steady; St. Paul issues re- cover partially. Foreign exchanges— Firm: sterling and francs advance. Cotton—Higher; trade buying. Sugar —Lower; Cuban selling. Coffee—Ir- regular. 'CHICAGO: Wheat—Strong; bullish Canadian crop estimates. Corn—Firm; predictions unfavorable weather. Cat- tle—Higher; light offerings. Hogs— Active and higher. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal ~Selling checks Zold value. today. 4.8865 4.45% 100 100 83 0333 0499 2385 trill'n 0436 (1879 ‘0180 312 “00001434 London, pound Mentreal, doliar Paris, franc . ssels, franc ... lin, mark Rome,' lira Zairich, frane . thens, drachm drid, peseta . crown crowa . mark By, the Associated Press. NEW YORK, September 11.—For- elgn exchanges firm; quotations (in Unitea States dollars): Great Britain, demand, 4.45; cables, 4.45%; 60-day bills on banke, 4.42%. France, de- mand, .0532%; cables, .0533. Italy, demand, .0437%; cables, .0438. - Bel- gium, demand, .0498%; cables, ,0499, Germany, demand, per trillion, 23%. Holland, demand, .3824. Norway, de- mand, .1375. Sweden, demand, .2659. Denmark, demand, .1681. Switzerland, demand, .1880. Spain, demand, .1315. Greece, demand, .0179. Poland, de- mand, .0019%. Czechoslovakia, de- mand, .0299%. Jugoslavia, demand, .0132%. Austria, demand, .000014%. Rumania, demand, .0054. Argentina, demand, .3487. Brazil, demand, .0990. Tokio, 'demand, .41%. Montreal, 299 27-32. —_—_— In maay parts of India it is still wnknown for & woman to walk in | ey trocts alose or unveiled, | | Cersode ¥ Air Reduct (15). Ajax Rubber. Alaska Juneau. . Allied Chem (4). Allis-Chalm (4). AmBosch....... 26 AmCan (16).... 124% Am Can pf (7).. 115% Am Car & Fy (12! 164 Am Chain A (2). 24% AmDrug Synd.. 6% Am Express (8). 111% Am& F P 25%(7, 1164 AmFor P fpd(7) 117% AmHide& Lpt. 62 AmIce (D)...... T3% Am Internatl.... 26% Am Linseed. 17% Am Locomo (6). 80 Am Metal (3)... 46% Am Radiator (4) 116l Am Ship & Com. 11% AmSm & Re (5). 73 AmS & R pt (7). 103% Am Stl Fdys (3). 36% Am Sugar.... 4 Am Sumat Tob.. 7 AmT & Tel (9).. 127% Am Tobac (12).. 149% Am Tob B (12).. 143% Am W W 1Ist (7) 96% 524 98% 3 3% 90 17 98% 29 104% 91 130% 89% 224 . 119% 113 61 19% 524 814 9 1% 70 58% Am Wool pfd (7) Am Writ Pap pf. Anaconda . Arm of Del (7). Asso Dry G (5).. As DG 2d pt (7). Asso Oil (1%) AtT & S Fe (6). AT&ST pf (5). Atl Coast L (18). Atlantic Refin. .. Austin-Nichols Auto Knitter. Bald Loco (1) Bald Loc pf (7) Bal & Ohio (5). Barnsdall A RB'ch Nut (2.40) Bethlehem Steel Beth Stl pf (7). Brit Emp Steel.. Brk-Man Tran. . | Brklyn Un G (4) Burns Br (10) |Burns Br B (2). Nevertheless | Butte&Superior. Caddo CenO & R Cal Packing (6). Callahan Z Lead Cal Pet (1%). Cal Pet pf (7 Calu & Ariz (2). Calumet & H 50¢ Can Pacific (10). Case Threshing. Cen RI#M (2)... co(4) Certain-Td Prod Cert-Td 1st (7) Chand Mot (3).. Ches & Ohio (4. Ch & O pf (8%2). Chic & Alton pf. Chicago & Alton Chic & East Ill.. Chi& EIDf..... Chic Gt West pt. Ch Mil & St Paul Ch Mil & St P pf. Chi & Nwn (4).. ChiRI& Pac... Chile Cop (2%). Chino Copper... Coca-Cola (7)... Colo Fuel & Iron Colo Southern Col G & E (2.6 Col Carbon (4).. Com Solv A (4). Com SolvV B..... Congoleum (3 Con Cigars pf (7) Consol Gas (5) .. Comsol Textile. . Cont Can (4).... Corn Prod (2) Corn Pr R pf ( Cosden Co : Crucible Stl (4). Cub Am Sug (3). Cuban Cane Sug. Cub Cane Su pf. Cushmans (3) Daniel Boone. .. Dayidson Chem. Del & Hud (9).. Del L& W (6) Det Ed Co (8) Dome Mines DuPtdeN (8).. DuPtdeNdb (6 Eastman (17%)- . Eaton Ax (1.60) El Stor Bat (4).. Emer Branting. End-John (5). .. Endicott pf (7). 51% 43% 6% 0% 3% 56% 324 121 27% 63% 32% 15 65 60 12 a4 127 140% 109! 15% 126 90% 108% 10 57 3 64 108 27% 384 21% 28% 79% 50 1% 82 k) 44% Erie18tpf...... Exch Buffet (2). Fairb'ks (2.60).. Famous Pl (8) .. FdM&Spt (D). Fleischman (3 Foundation (6! Freeport-Texas. Gen AmTC 3). Gen Asphalt.... 39% Gen Asph pf (5). 81 Gen Baking (6). 124 General Elec(8) 264 Gen El spe (60c). @11 Gen Mot (1.20).._ 14% Gen Mot pf (6)..” 86 GenMot pfn (7) 964 Gen Petm (2)... 41% Gimbel Bros.... 57% Gimbel Br pf (7) 104% Goldwyn Pict... 16% Goodrich.... 24% Goodyear pf. 59% G'dyear prpf (8) 96% Granby Consol.. 17% Gray & Davis... 4 Gt North pf (5).. 624 GrNorOre (3).. 2% Grt Wstn Su ( 86% Guantan Sugar.. 6% GuMo & N pt (5) 67 Gulf Mo & Nor 16% Gulf St Stl (5) 2% Hartman Co (4). 32 Hayes Wh'l (3). 84% Helme Geo H. 61 Homestake (17). 44 Househ’d Pr (3). 84 Houston Oil. 3% Hud MotC (3).. 29 Hupp Mot C (1). 12% Illinols Cent (7). 110% Indiahoma Ref.. % Indian Refining. 5% Inland Stl (2%). 835% Inspiration Cop. 26% Interb Rap Tr... 26% Internat Ag new. 64 Int Bus Ma (8).. 102 Int Com Eng (2) 26% Int Mer Marine.. 9% Int Mer Marpf.. 88% Internat Nickel. 17% Inter Nick pf (6) 2& Internat Paper.. Int Pap pf St (6). 2% Int Ry Cent Am. 14% Int T&T (6). 82% Invincible Oil 18% Jewel Tea. . 18% Jones Bros Tea.. 16% Jordan Mot (3). 80% KanCSopf (4). B4k Kayser Jul & Co. 19% Kayserpf (8)... 86 Kelly Spr Tire.. 15% Kelly Spgtd pf.. 47 Kelsey,Whl (6) 89 Kenne Cop (3).. 46% Kresge Dep Str. 48 Lehigh Val (3%) 52% Lig & Myrs B (3) 60% Lig & My pf (7). 118% Lima Loco (4) 69% Loews Inc (2).. 17 Loose-Wiles Bis. 66 L'se-W 2dpf (1) 90 Lorrillard (3)... 3% Louis & Nash (6) 98 Ludlum St (2).. 17% McIntyre (75¢).. 16% Mack Trucks (6) Mack Trucka rts. Macy RH& Co.. Macy & Cpt (1. Magma Copper. Maracaibo Oll Market 8t Ry. % Mkt St Ry prof., 44 Open. High. 81% ? 1% 72 61 26 127% 115% 165 24% 6% 111% 117% 117% 62 Tow. 81 8% 1% 69% 658% 26 124% 115 164 24% 6% 111% 116% 1174 614 76 _73% 264 1% 804 46% 116% 11% 7354 103% 36% 4% a 128 151% 149% 96% 53% 98% 3 37% 90 118% 984 29% 104% 91 130% 90% 23 2 121% 13 61% 19% 62% 44% 93 3% 26 264 17% 80 464% 116% 1% 73 103% 36 4 i 127% 149% 143 96% 11 14% 86 96% 41% 57% 104% 16% 24% 59% 96% 17% 4 60% 29 86% 6% 67 16 2% 81% 343% 61 44 84 3% 29 12% 110% % 5% 36% 26% 26% 6% 102 26% 9% 38% 17% 88% 46% 72 14% 82% 13% 18% 16% 30% b4y 19% 85 16% 47 89 46% 48 52% €0% 118% 59% 17 3 20 89 98 17% Close. 814 9 1% 72 61 26 127 115 165 24% (] 111% 117 117% 61% 5% ZoA 173 B0 46% 1164 113 73 103% 86% 47% 7 127% 151 149 6% 58 98% 3 374 90 1184 98% 29% 1035 91 150% 90% 23 2 121 113 61% 19% 52% 44% 93 3% 26% 74 104 23% 17 1% 87 3% 224 6% 50% 17% 147% 26 27% 37% 5% 12% 110% % 5% 85% 26% 27 6% 102% 264 9% 394 17% 88% 47 72 14% 84 13% 19 16% 31 64% 20 85 16 47 20 4AT% 48% 52% €0% 118% 17 Received by Private Wire Direct to The Star Office Open. High, 89 40 57% 58% 16% 93% 22% 22 856% 15% 45% 19 1% 34% 8% 31 5% 7% 36% 97 20% 67 150 1s 14% 105 50% 106% 91 22% 2¢ 94% 28% 18%n 125% 29% % 64% 6% €6 42 Tow. Olose. 89 40 57% b58% 164 17 93% 94 24 221 22 22W 854% 36% 154 15% 46% 464 18% 19 52 51% 4% 34% % 8% 81% 31 6% 6% 67% 63% 36% 364 97 97 20% 21 67 67 150 18 14 105 50% 106% 91 21% 20 9% 28% 18% 124% 29% 47% 1% 6% 21 66 4z Mathieson Alka. Maxwell Mot A Maxwell Mot B. May Dept St (5). Mex Seabd (2).. Miam1 Cop (2). M StP&SSM (4). Mis Kan & Tex.. Mis K & Tex pf.. Missouri Pacific. Missouri Pac pf. Montgom Ward. Mother Lode 75¢ Munsingw'r (3). Nat Acme.... Nat Biscuit (3) Nat Dairy (3) N DS 1stpf (1) Nat En & St.. Nat E& Spf (D). Nat Lead (8). Nat Lead pf (7). Nev Cons Cop N Or T&M 123%. NYABrA .. N Y Central (7). NYC&StL pt (6). NY NH & Hart.. ¥ Ont & West. N Y Stea pf (7 Niagara F pt 1%. Nor#ulk South. . Norf & W (18).. North Am (2.40). North Am pt (3). North Pac (5)... Ontario Mining. Orpheum (1%). . Otis Elev (n) (4) Owens Bot (3). Owens B pt (7) Pacific Develop. PacG & E (8). Pacific Oil (2). Packard (1.20) Pan-Amer (4).. Pan-Amer B (4) Panhan P & R pf Park & Tilford. . Penn Railrd (3) Penn Seab Steel. Peoria & East. .. Pere Marq (4). Phila Co (4).... Phila & R &I Phil Mor (50¢) . Phillips Pet (2). Picrce-Arrow pt P-Arprpf (8). Pierce Ol pt. Pitts Ut pt (1.20) Pitts Ut ctfs 1.20 Pitts & West Va. P & W Va pf (8). Postum Cer (4). Prod & Refiners, ¢ 650% % 95% 48% % 96% 48% PubSer NJ (4). Public Serv rts.. Punta Al Su (5). Pure Oil (1%)... Ry Stl Spg (8). Ray Cons Cop Keading (4 Reading rts Remington Type Replogie Steel. Rep Ir & Steel. Reyn'ds Spgs (1. Rey TobB (3)... Roy Dth (4.42%) Rutland pf. St L San Fran St L-San Frpf.. St L Southwest.. StLS'thpf (5).. Savage Arms... Schulte (8)..... Seaboard Air L. Seab'd Air Lpf.. Sears-Roebk (6) Seneca Copper. Shell Un Oil (1). Simmons Co (1). Simmons pf (7).« Simms Pet. Sinclair Ofl.... Skelly Oil e S heff (6) Sloss-Sh pf (7) South Pac (6) Southern Ry ( Std Gas & El (3) 5t Ofl Cal (2).. StOINJT (1) StOil NJ pt (D). Stand PIGI (3).. Sterling Pr (4) Stew’t Warn (5). Stromberg C (8). Studebaker (4).. Submarine Boat. Superior Oll..... Sweets Co of Am Telautograph Texas Co (3). Tex G Sulph 7 Texas & Pacific. Tex & PacC&O. Tide Wat Ofl (4). Timken (f3%). Tob Prod (6). Tob Prod A (7) Transcont Oil Underwood (3) Un Bag & Paper. Un Pacific (10) .. Un Tank Car (5) Un T Carpt (D. Utd Alloy Steel.. Utd Cigar Stores United Drug (6) Utd Fruit (10).. Utd Ry Invest... Utd Ry Invest pf U S CastlronP. US CIP pf () U S Distributing U S1Ind Alcohol. U S Rubber..... USR1stpf (8). U S Smelting.... U S Steel (16%). U S Steel Dt (D3 Utah Securities. Vanadium Corp. va-Caro Chem. Vivadou. 90 65 58 28 67% 31% 82% 82% 106% 121% 34% 25% 1% 5% 14% 41% 29% 15 14% 41% 15 21 69% 12% 924 62 11% 24% 61% 1 % 8% 67 108% 29% 41 B4y 32% 107% 121% 3% 25% 1% 6% 16% Al% 29% 16% 14% 42 115 21% 69% 112% 11 92% 62% 11% 25 621 1 5% 3% 67% 109% 29% 4% 25% 1% 6% 14% 41% 29% 15 14% 42 115 21 69% 112% 2% 62% 11% 25 62 1 5% 8% 67% 109% 284 Al% Wabash pt B. . Web & Hellb(1). Wald Sys (1%) .« Wells Far (2%). West EI pf (7)., ‘Western Pacific. West Pac pf (6). West Un Tl (7). West Alr Br (6). West E& M (4). Whi & L Erle. ... Wh Eag Oil (2). White Mot (4).. .. Wickwire Sp 8tl. wilson & Co. Willys-Over! Willys-Ovd pt. Woolw’th n (3) Worthing P'mp. Wrig W Jr (3).. 41 Yellow Cab (6).. 52K 6214 b2% b2% Youngst S&T (4). 67 67 671 67 {Partly extra. $Payable in Dreferred steck. Dividend rates as gives in the above table are tho annual cash parments based on the latest quarterly or balf-yearly declarations. Uniess otherwise Boted. extra o special dividends are Dot included. TODAY’S METAL PRICES. NEW YORK, September 11.—Copper easy. Electrolytic, spot and futures, 13%. Fin easy. Spot and futures, 5100, Iron steady and unchanged. Lead steady. Spot, 8.00. Zinc_steady. East St. Louls spot, 6.20. Futures, 6.20a6.25, Antimony, spot, 10.75. CALL MONEY RATES. NEW YORK, September 1l.—Call ‘money steady; higher, 2; low, 2; rul- ing rate, 2; closing, bid, 2; offered at 2%; last loan, 2; call loans against acceptances, 1%; time loans steady; mixed collateral, 60-30 days, 2%a3; 4-6 months, 3%a3%; prime commer- cial paper, 3%a3%. e DIVIDEND OMITTED. NEW YORK, September 11.—The djrectors of the Eaton Axle and Spring Co., meeting today in Cleveland, omitted the quarterly dividend of 40 cents a share on the capital -stock due-at this time. The dividend was redmoad last May from ST. PAUL ISSUES FEATURE IN BONDS Renewal of $100,000,000 Credit to France Helps Lift Foreign Obligations. BY GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, September 11.—Inter- est in the bond market today again centered in the St. Paul issues. After the sharp break of Wednes- day, the junior liens steadied some- What and even made fractional gains in the early trading, but the secured 68 of 1934 were .weak and the Chi- cago, Milwaukee and Puget Sound 4s were offered down in large volume, both on the exchange and over the counter. The per cent loan of 1934 is secured by pledge of general mort- gage bonds and is generally consid- ered entirely sound. It was offered in January of this year at 96% and was still selling above that price to- day. The Puget Sound 4s are secured on the electrified Pacific Coast Ex- tension.. Most of the bonds are pledg- ed under the refunding mortgage. There was no fresh news about the St. Paul situation. Sugar Bonds Surprise. Other speculative rails were quiet and little changed. Among the trac- tions the features were Hudson and Manhattan incomes which were firm above 67, in sympathy with the strength in the stocks on the curb exchange. The point of interest among industrials was the failure of the sugar bonds to respond to the improved outlook for the sugar pro- ducing corporations. The chief in- stance of this was the Cuba Cane Sugar 8s which sold below par. This is the highest yielding listed sugar bond. High grade domestic investment issues were firm. Time money was reported easier which contributed to the strength in investment bonds. The market, however, was spotty with some issues in active demand and others equally high grade neglected. Belgian Inmsues Very Strong. Tho feature of the foreign list was another new high for the new Bel- gian 6is. Jugoslav 85 made no re- sponsc to the announcement that the kingdom had secured a new $3,000,000 loan from the bankers. New issues included $2,000,000 Varick Street Station, New York, Post Office 6s, due 1941 at par; $1,36: 000 City of Enghamton, N. Y., 4% per cent serial bonds to yield from 3.15 to 4.00 per cent and $1599,- 000 City of Bayonne, N. J., 4% per cent school bonds. due serially to yield from 4.00 to 4.30 per cent. Credit Help French Liens. By the Associated Press, NEW YORK, September 11.—Bond prices held steady in quiet trading early today, St. Paul railroad issues showing a tendency to recover after their drastic decline of yesterday. Most of the road’s liens rallied 1 to 1!z points, although the Puget Sound issues Jost 212 points more. Foreign obligations, notably the French bonds, were firm after announcement that the $100,000,000 Morgan credit to the Bank of France had been renewed for six months. The new Belgian 6s established another high record at 96. Liberty bonds moved within narrow and irregular limits. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY NEW ORLEANS, September 11.— Sales of wholesale dry goods in the last 50 days have been heavy. One jobber here has shipped $1,000,000 worth of goods in this period, which equals his best previous record. Col- ‘lecuans are improvirg. LANSING, September 11.—Automo- biles shipped over the Michigan Cen- tral from here last month showed an increase of 100 per cent over July shipments. Incoming material ship- ments also showed a heavy gain. Lansing is now almost back to normal auto output and labor conditions seem assured for the winter. BOSTON, September 11.—The New England Telephone and Telegraph is pushing its expansion program and now is spending about $100,000 a day on construction work. LITTLE_FALLS, Minn., September 11.—The Northern Pacific Railway will complete its system of block sig- nals from the Twin Citles to the Pa- cific Coast with the installation of the last signal here September 15. This gives the road 2,890 miles of track equipped with automatic block signals. LYNN, Mass., September 11.—The Golden Rule Shoe Company, a worker- employer co-operative factory, re- ports that orders from Middle West chain stores are sufficient to assure work for the next 50 weeks. BARNHART, Tex., September 11— Three thousand lambs, weighing an average of 71 pounds each, have been delivered here for shipment to Kan- sas feed lots. They were sold for 10 cents a poung. SILVER AT NEW HIGH. NEW YORK, September 11.—Silver sold yesterday at a new high for the year, 63% cents an ounce. A few sales by producers direct to consum- ers or banks were reported at 69 7-16 cents an ounce. Increased demand from China and India for the metal was said to have contributed to the advance, e BOSTON STOCK MARKET. BOSTON, September 11.—Following is a list of today’s highest, lowest and closing prices for the most ac- tive stocks dealt in here: High. Am Tel & Teleoeseeeas. 128 Am WOOl eeveconsooeese B3% ‘Amoskes 88% Arizona Com 103 Calu & Aris 53% Calu & Hecla Close. 121% 53% Copper’ Range East Butte . Mass G . Mass Gas pfd .oolo 0 Mayfower O O. 22385 - New England T & NH& SRR LN O Tnited Fruit. United Shoe Miac . United Shoe Machinery U 8 Smelting. U8 Smelting Ventura Oil. Nk FEF TR OEE Warren Bros..... —_— The average wage paid for experi- enced female llbo!nll British Colum- [ BONDS miaxrame] Recelved by Private Wire Direct te The Star Office. UNITED STATES BONDS. Sales. High. Low. Close. Lib3%s... Lib 1at 4%s. Lib 3d 4% Lib 4th 4%s. US4%s1962.. 156 102 Lib2d 4%s.... 657 101-5 . 142 102-1 862 102.7 47 105 FOREIGN. Sules. High. Argentine b Argentine Argentine 7s Austria 7 Belgium 65 Belgium 6%s w 1..257 Belgium 7%, Belgium 8: Bolivia 8s Brazil 7% Brazil 8s. Canadf 5s 1931 Canada bs 1952. Chile 7s 1943 Chile 85 1926. Chile 85 1946. Chinese Gov. Copenhagen 6% Cuba 53s. Czecho 85 195 ©zecho 8s 1952 ct. Danish Munic & A. Danish Munic 85 B, Denmark 6 Denmark Dutch ET5%s. DEIb%sct. Dutch East I 6; Dutch East I 6862 El Salvador 8s '48. Finland s f 65 1945. Framerican 7%s.. French Govt 7% French Govt 8s. Haiti 6s.. Holland-Amer 6 Hungary 6%s. Japanese 4s Japanese 6 . Jergens U M 6847, Lyons 6; Marselilla Mexico 45 '04 asntd. Montevideo 7s. ... Netheriands 6s'54. Netherlands 6s '72. Norway 65 1943, Norway 65 1944. orway 651952, Norway 8s.. . Paris-Ly's-Med 63 Prague 7%s. . Queensland 6s Rio de Jan 8s 1! Rio de Jan 85 1947. Rio Gr Do Sul 8s. . Sao Paulo City 8s. Sao Paulo State 8s. Seine Dept. of 7s Serbs Crotes Slo 83 Soissons 6s. Sweden 6s. Swiss 518 1946. Swiss Confed 8s. .. Ud Kingm 6%s°29. Ud Kingm 6%s°37. Ud Steam Copen 63 MISCELLAN Ajax Rubber 8 Am Agr Chem Am Agr Chem 73%s AmChainsf 6s°33 Am Cotton Oil 58 Am SmIt&R 1st AmSmit& R 6s. Am Sug ref 6s. AmT&Tcltr 4 Am T&T cltrbs Am T & T deb 5%s. AmT& Tcvés.... Am Water Wks §s. Am Writ Paper 6s. Anaconda 1st 6s. Anaconda cv db Armour & Co 4%s. Armour of Del 638 Assoclated Ol 6s.. Atlantic Refin bs.. Barnsdall s f 8s. Bell Tel Pa 5s. Beth Steel pm 5s. Beth Steel rf 55 Beth Steel 533 °53. Beth Steel sf 6s... Brier H St 1st 5%s. Bklyn Ed gen 5s. .. Bklyn Edison 7s D. Calif Pete 63%s. ... Can Gen El deb 6s. Central Leather 58 Chile Copper 6s... Col Gas & El b: Col Gas & El bs sta Commonwth P 6s.. Con Coal Md 1st 5s. Consumers Pow 5 Cuban-Am Sug 8s. Cuba Cane cv d 8s. Du Pontde N 7%8 Duquesne Light 63 Est Cuba Sug 7%s. Empire G&F T%s. Fisk Rubber 8s Francis Sug 7% Gen Elec deb 5s Goodrich 6%8. Goodyear 83 1931.. Goodyear 8s 1941... Hershey 65 1942.... Humble O&R 5%3. Illinois Bell 1st §i Illinois Steel 4%s.. Indiana Steel bs Int Mer Marine 68 Inter Paper 58°47 KCP&Lt5sA’S2 Kan G & El 68°52. Keyser (J) 78. Keily-Spring 8s... Lackawa S 6s'50.. Liggett & Myrs 5s. Lorillard (P) 5s... Manati Sug sf 7% Marland Oll 7%s. Mexican Petrol 8s. Midvale S;;eel 5s ct. Montana Power Mor's&Co 1st 4%8 New Eng Tel 5 N Y Eden 1st 6% NYG EL H&P Bs. N Y Tel 4%3s. N Y Tel 68’41, North Am Ed - North Am Ed 6%s. Nor Ohio T&L 6s.. Nor States Pow 58, Nor States Pow 6s. Northwst B Tel 7s. Otis Steel 148 Otis Steel 3s fic Gas & El §8. ;a‘?’l‘bl‘lnfil.‘. Pacific T ‘k*'l‘ 5“ 52 Co5%38 Philf B A Producers&R 85 We Public Service 68.. Pub Serv Elec 6 Punta Alegre 7s... Saks & Cosf7s.. Sharon St1 H 8: 1 81% 55 93% 102% 95 100% 96 108% 107% 3% 88% R2 100% 96% 102% 102% 7% 103% 106 57 11 95 8 4 1 19 1 14 16 2 4 28 9 11 5 1 1 5 20 4 25 40 101 102 327 100-27 10028 100-26 101-29 101-29 1012 101-31 101-31 102-4 104-28 104-28 Low. Close. 81% 93% 102% 4% 100% 95% 108% 107% 93% 88% 8% 100% 96% 102% 102% 974% 10316 105% 2% 94% 96% 100 995 108% 109 100 m 89% 89% 95% 95% 103% 8% 95 102 105% o 81 87% 82% 924 81% 28 88 19 90 99% 96% 9% 9% 98 12% 81 90% 103 95 ” 98 954% 5 100% 10 92 100% 94 9614 20 93% 103%, 100% 7% 101% 102% 119% EIL 48 98% 100% 85 92 101 98% 100% 1004 89 94 884 96% 96% 995 108 1004 106%" 99% 107 100% 100% 96% £8 897 108% 99% 20 106% 108% 106% 107 95% 103 102% 1045 P TR IR I T TRy - A CAHOENHARNRNNNORN ~RHRARRO=® T RIS £ Va-Car Chem 78... Va-Car Ch7%ssw ‘Warner Sug 7s'39. ‘Warner S’gl‘ 78’41, ‘Wickwire Spen 7. Willys-Ov 6348 '38. ‘Wilson & Co 1at ¢s. ‘Wilson & Co cv 6s. ‘Wilson&C cv 73%s. Winchester A 7% Xoungan & & T 66 - wn =EBno - St k3 18 11 48 93% 89 87% 105 98 114% 109 10415 92y 105 110% EOUS. 92 100% 93% 96l 90 93% 108% 100% 974% 101% 102 119% 81y 48 97% 100 85 1% 100% 98% 100% 100 88 81% 931 102% 95 100% 95% 108% 107% 93% 88Y% 82 100% 964 102% 102% 97% 103% 105% 43% 4% 96 100 1 108 109 100 111% 89% 894 95% 95% 103% 87% 5% 102 105% 9% 81% 87% 82% 97% 110% 108% 70% 1% 85% 45% 4 500 40 50 1102 102 102 24 5% 86k 95% RAILROADS. Sales. High. Low. Close. Atchison adj 4 82 82 Atchison gen 4s. 89% 89 AtlanticCLel 4 84% 84% Atlantic CL 1at 4s. 28 90% 90% B&Oprin3is... 16 100 99% 87% 87 88% 88% 85% 84% 102% 102% 100% 100% 831 83% 99% 99% 67 67 9% 9% 87% 87% 100% 100% 116% 116 115% 116% 79% 9% 104% 103'a 98% 984 87% 87 95% 956% 88 87% 98% 98 6215 62% 2% 424 89 88Y% 101 83% . 90 71 65% 52% 5% 71% b2% b7% 50% 54 97% 84% 97% 110% TTH 82% 80% 77 917 1z 76 103% 975 91% 103 99% 104% 88% 83 88% 42% 63% 644 68% 1003 100’4 106% 6 1155 93% 100% 108% 1% 56 67% O SW aiv 3%s. B & O Toledo 4s. .. Bklyn-Manhat 6 Buff R & Pitt 438, Canada South 5s. Canad North 6%s. Canada North 7s. Car Clinch & O 6 Cent of Ga 5%s. Central Pacific 48 Ches & O cv 4%s. Ches & O gn 4%s. . Ches & Ohio cv bi Chi & Alton 3§ Chi & Alton 3%, Chi B&Q gn 43°58. Chi B&Q 18t rf 5s. CB&Q-1113%s. .. CB&Q-Tildivds.. 2 Chi&Ell gnbs... 11 Chi Great West 4s. 33 CM & Puget Sd 4s. 30 ChiM & St P 45251126 Chi M&St P 45°34.. 29 CM&St Pdb4s...181. Chi M&St P cv 4148445 Chi M&St P rf 434 208 Chi M & St P cv bs. 131 Chi M & St P 6s. C&N W gends.. Chi & N W ref 5s.. Chi & NW 6%s. Chi Rys 6 : ChiRI&Pgn 4s.. ChiRI&Prf4s ChiTH&SESs.. Chi Un Sta 4%s. ChiUn Sta 6%s. . Chl & W Ind cn 4s. Chi W Ind 73%s. CCC &St L4ls. CCC & St L bs. - CCC&StLrfésA. Cleve Term bs. Cleve Term 6%s Colo & Sou 4%s. Cuba RRGs..... Del & Hd 1st rf 4s. Des M & Ft D 4s. Eric gen 4s... Erie conv 4s A Erie conv 4sD.... irie & Jersey 6s.. Erie Genessee R 68 Gr Trunk =f db 6s. Grand Trunk 7s... Great North 5s.... Gr North gen 5%s. Gr North gen 7s. .. Green B & W db B. Hud & Man ref 6s Hud & Man aj 5s.. 105 1l Central 5%s.... 3 Int Rap Tran 6s... 8 Int Rap Tr 5s stpd. Int Rap Tran7s... Int & G Nor 1st 6s. Int & G Nor aj 6s.. Iowa Cent rf 4 Iowa Cent 1st 5s.. Kansas City S 3s.. Kansas City S bs. Kan City Term 4s. Lake Shore 45 '28. Lake Shore 43 31. Louis & N uni 4s Louis & N6sB.... Manhat Ry cn 4s.. Market St Ry 7s Mil EI Ry & L 5s. M&StLrfexss... M StP & SSM cn 48 M StP & SSM 61s. MK&T4sB..... MK&Tadjbs.... MK&TprinSsA. Mo Paclfic gn 43. Mo Pacific b5 65 Mo Pacific 6s Montrl Tm 1st 5: 26 4 2 45 2 55 20 11 1 NewOr Term 4s. N ¥ Ceat deb 4s. Y Centriss. YCent deb 6s. N Y Cen LS cl 3% N Y Chi & SL5Y NYC&StL6s New Haven d 4s ‘57 New Haven cd 63 New Haven 7s NYOnt& W ret ¢ N Y Rysadj 5sct. NYW & Bos4% Norfolk & W cn Norfolk & W cv 6 Northern Pac 3s. Northern Pac 43 Northern Pac 63 D. Northern Pacr 1 6s Ore Short L ret 4 Ore Sht Licn 5s " Ore-Wash 1st rt 43 Pennsyl con 4% Pennsyl gen 4% Pennsyl gen 6s. Pennsyl 6%4s. . ... Pennsyl gold 7s... Peoria & E inc 4 Pere Marq 1st Reading gen 4 Reading gn 4%s. Rio G West cl 4s. RIArk &L 4% St LIMES 4s°29 St LIM&S R&G StL&SFpl4sA, StL&SF prlnsi StL&SF5%sD. StL &S F adj 6s. StLeSFincés StL&SFplésC StLSW 1stds. StP & KCShL 47 St P Un Dep 5%: SanA & Arn P 4 Seab'd A L ref 4 Seab'd A L adj 5 Seab'd A L con 6: Sou Pacific 45°29.. Sou Pacific ctl 4 Sou Pacific ref 4 Southern Ry gn Southern Ry 1st 53 Southern Ry 6s ct. Southern Ry 6% Term Asso St L Term Asso St L 3s., Third Ave ref 4s Third Ave adj 65 Unlon Pac 1st 4s. Union Pac 4827 Union Pac 1st rf 4 Union Pacific cv 6 Virginia Ry st bs.. Va Ry &P 1st bs... Wabash 1st 58 Western Md 4s. Western Pacific Wheel & LE cn Wikes-B&E 98% 3% 4 1021 109% 109% 364 965 94 2% 68% 80 1% 8214 69% 84% 93% 68% 91% 823, 6915 84% 934 9% 79% 73 73% 101% 101% 80% 0% 78 78% 997% 997 79 T9n, 65 55 60% €0% 80% $0% oTh 974 8% 8w 88% 89% ST 99% 99% 1025 102% 106 106 83 83 99% 99 56 56 49% 49% 82 92y 99 99 Ko% 86% 1041 104t 95 954 834 934 100% 304% 95% 93% 100% 100% 63% 62l 624 90% 90 90% s. 1_70%_70% 70 BN o SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) T, oer 103 10314 108% 1071, 100 Alusilnum Co. of Amer. 7s 1925. Aluminum Co. of :Amer. 7s 1933, American Sugar Gs 1937 American Tel. & Tel. 8 ‘1935 ‘Anaconda Copper 6s 1929, Anglo-American 0il 7 Associated Oil s 1935 Bell Tel. of Canada_b: Canadian Northern 58 tral of Georgia s 1929, Central Leather 5¢ 1 Chi., Mil & 8t Paul @s i93i . Cbi: R. I & Pacific 1926 Columbia Gas & El Du_Pont 7i4s 1931 Federal Sugar Ref. Fisher Body Corp. 6s 1927. Fisher Body Corp. 6s 1025 Goodyear T. & E. 88 1831 Great Nortbern 7s_1936. Gulf Ofl Corp. of Pa. 5w 1623, Humble Oil 5%s 193: Kennecott Copper 78 M, SLP &5, 8 M Morrls & Co. 7%s 1080, New York Central 6s 1933. Oregon Short Line 4s 1029 Penasylyania R. R. 1930. Pure Oil 5%s 1925 (August) Switt & Co. 5s 1932 Tidewater Ol 613 1! Union Tank Car 74 1080 58 1936 Westinghouse E. & M. 7s 1931 Wheeling Steel 65 195€........ 1 —_— Orfe of the first official acts of ‘William A. Perry, acting Governor of Kentucky, was the appointment of Ris wife asa colonslon hisstafll, FINANCIAL, COTTON QUOTATIONS MOVE VERY LITTLE Rallies Follow Yesterday’s Sharp Decline—Plenty of Spot Cotton. By the Awsoriated Press. NEW YORK, September 11.—Rallies followed yesterday's severe decline at the opening of the cotton market today. Liverpool was decidedly bet- than due and the local market at an advance of 14 to points, October selling up to 2.97 and December to 2254 on the call. This advance met considerable selling which included lllrlh}‘r south- ern hedging, but early offerings were absorbed on moderate setbacks by covering, trade buying and buying for Liverpool account. There was no change in weather or crop news. While there were more numerous reports that farmers were beginning to hold cotton from the market, private New Orleans ad: vices claimed plenty of spots werc being offered at present prices. October . December - January M Janbars. Prices in New Orleans. NEW ORLEANS, September 11— Cotton futures opened steady. Octo- ber, 22.83; December, 22. Janu: 22.32; March, bid; May, 2: Cotton futures closed steady at net advances of 83 to 41 poiats, October . December . IN WILD ADVANGE Both Grains Jump 4 Cents Per Bushel on Weather and Sales Reports. By the Associated Press NEW YORK, September 11.-=Stimu- by export wheat jumped 4 cents a bushel here Corn also was up 4 cents, due ¢y buying as the result of un- favorable crop conditions. Europe was a large buyer of North American wheat, taking three to four million bushels, Some estimates ran as high en million bushels, including business done late yesterday. About one million bushels of rye also were taken. These were due purchases crop vield of the heavy foreign to bullish Canadian estimates, which indicated a considerably le ome recent private e CHICAGO LIVE STOCK MARKET CHICAGO, September 11 (U. S. De- partment of Agriculture).—Hogs— Receipts, 19,000 head: desirable grades fairly active, 10 to 20 higher; mostly 15 up; light-light and slaughter pigs show advance; shipping demand very common and medium kind slow; big -packers talking steads: top, 1 bulk better 160 to 340 pound averages, 9.80a10.15; good and choi 140 to 150 pou aver- ages, 9.259.60; packing sows, §.60a s desirable weighty Kkilling pigs largely 8.0028.50. Cattle—Receipt; between grad heavy fat steers clow: vearlings and handyweight | tairly active: firm, strictly choice of- ferings scarce; desirable fed steers and vearlings, early, 8.25210.00; one load ‘choice weighty bullocks, 10.65; some choice yearlings held around 11.00; western grass steers, strong_to 15 higher; 19 loads to killers, 6.65a 7.40; fat she stock slow, weak at ex- treme decline; bulls weak; calves about steady: stockers and feeders fairly active: most demand for light- ight offerings. Sheep—Receipts, 32,000 head: early fat native lambs weak 1ling moderate nat; ; few 14.00 to packers and out- no westerns 5 lower: active 10.000 head: sold: few bids around ing steady; best held above 14.00: mostly in Kkilling ndition; steady; fat ewes, 4.75a6.00; bidding steady on feeding lambs; no early ac- tion. GRAIN AND PROVISIONS. BALTIMORE, Md, September 11 (Special).—Potatoes, new, barrel, 2.00 bushel, 40a85; sweet potatoes ms, barrel, 2.00a5.50; beans, 1.25a1.50; beets, hundred, 3.00a 4.00; cabbage, hundred, 3.00a5.00; car- rots, hundred, 3.00a4.00; corn, dozen, celery, bunch, 20a’ basket, 60a90; eggpla: bushel, lettuce, crate, 1.00a2.00: peppers, ket, 25a35; spinach, basket, 90al1.00 tomatoes, ‘basket, 40a packing stock, bushel, 1.00a1.15. Apples, barrel, 1.50a4.00; bushel, T5a 1.50; damsons, pound, 3!za4; black- quart, 12a15; grapes, basket, huckleberries, quart, 12ai5; peaches, basket, 7521.00; bushel, 1.25a cantaloupes, basket, 30a1.00; basket, 40a1.00; bushel, 1.50a watermelons, hundred, 40.00a Settling Prices on Grain. Wheat— 2 red Winter, spot, 1.40; No. 2 red Winter, garlicky, 1.34; No. 3 red Winter, garlicky, 1.30% Sales—Bag lots of nearby sold at a range of 1.05 to 1.22 per bushel; car- goes on grade, No. 3 red Winter, gar- licky, 1.29 . 4 at 1.26. Corn—Cob, old_vellow, 6.50 per_bar- rel; old white, 6.35 per barrel; No. 2 corn, spot, no quotations; No. 2, no quotations; track corn, yellow, No. 2, 1.35 bid. Sales—None. Oats—No. 2 new, 561 per bushel; No. 3, 55% per bushel. Rye—Nearby, 95a1.05; No, spot, 1.04%. Hay—Receipts, 16 tons. The sup- ply of hay is ample for all trade ‘wants, and the demand is principally for the better grades of timothy at a range of 16.00 to 20.00 per ton as to grade and kind. Damaged and low- grade hay is of uncertain value and hard to move. Straw—No. 1 wheat, new, 12.00a 13.00; No. 1, new, 13.00a14.00. i TREASURY CERTIFICATES. (Quotations farnished by Redmood & Co.) 2 rye, p Bid. fer. 4%s December 15, 1024... 100% 100 19-32 4" March 15, 1925..... 1002332 101 272 4%s March 1925. 101382 101732 158 Tone 15, o5, 4308 December 15, 1925. 430s March 15, 1026.....0 4148 September 15, i926.. 4%s March 15, 1827, 4% December ' 15, 10 oy 0% 10:732 1021132 101 17-32 101 21. 102916 102 11 102 1782 102 21 B. & 0. SHIPS ON SULL TIME. BALTIMORE, September 11 (Spe- and Ohio Railroad will return to a to an announcement by F. X. Milhol- i sheep { This _iss TOPIGS ANNOUNCED: FOR CONVENTION Bankers to Take Up Many Vital Questions—Local Securities Strong. BY CHAS. P. SHAEFFER. Authoritative speakers representing every phase of American business will be heard by the Nation's bankers at the coming annual convention of the American Bankers' Asso n, which Will be held in Chicago September 29 to October Divisional and com- mittec meetings will be called the opening day, with the first general session scheduled for the following morning, September 30, What appears to be the most In- teresting topic offered will be deliv- ered by Dwight W. Morrow of J. P. Morgan & (o, an international banker of world-wide recognition. Especial interest attaches to what Alr. Morrow may have to say, in view of his recent discussion of the way international loans are handled, re- futing popular notions that their suc- cess depended upon the dictation of a few huge international banking houses ard showing that they re- quired the confidence of a vast num= ber of small investors. Program in Detail. The program in its entirety fol- uesday, Concert, s Agnes Neudorff: call to order, Presi- dent Walter W. Head; invocation: address of the president; report, cial acts and proceedings of the ecutive council; address, “Relatio Agriculture er Business,” 1. Meredith, Meredith publica dress, Dwight W. Morrow gan & Co.; appointment of resolutions committee; communications and an- nouncements. Wednesday, October 1, 9: Concert, orchestra; vocal Agnes Neudorff; invoc: “Tuning In With F president National ex- 0 am— olo, Miss Arthur Continental and Bank; addre roads as Factors in Busi- H. Markham, president fili- nois Central railroad; report of nom- inating committee officers: address John National Assoc facture cport of re mittee: communicatio nouncements ‘Thursday, October cert, orchestra; voe Neudorff; invocatio Responsibilitics of Cropsey, New York Sue reme Court, second distri, ddress, lanks and th jovernment, Senator George Wharton Pepper; unfinished busine new business: installation announcements; adjourn- tion of Manu- olutions « and Urges Making of Wills. In an effort to stress the importarce of making a will. the Washi Loan and Trust Company tributed_an_attractive pamphlet titled “The Will of Washington. it is contained the will of the President, followed by a citation of the varied advantages aceruing from such foresight, and concluding with extracts of provisions of the Distr: of Columbia law relating thereto. Seeks Bond Issue. The Texas and Pacific Railroad todav applied to the Interstate Commerce Commission for permission to issue i lieu of a note previously held by the director general of railroads, $4,400,- 000 of 6 per cent secured gold notes, and to_pledge collateral for the notes $5.500,000 of general and refund- ing mor age 6 per cent gold bonds. Funds for New York Banks. New York federal reserve bank will receive 42 per cent of the $13h,- 000,000 in interest to be paid on the Government's debt on September 15. The high percentage is accounted for by the fact that banks and other in- stitutions here are among the largest holders of these securities. Local Market Strong. A strong tone was again evidenced on the Washington Stock Exchange this morning, with the leadership being taken by Railway preferred, which advanced to Washington Gas, which rose to 50%. and Capital Traction, which maintained its high on the present movement, Railway preferred was in good de- mand, shares changing hands. opened at 75%. advanced to 76 on the next sale, and the con- cluding ten-share sale resulted in another rise of a quarter point Gas sold to the extent of 41 shares, while but 30 shares of Traction changde ownership. Lanston was firm 78%, as was National Mortgage and Investment preferred at 93%. Thres shares of American Security and Trust Company sold at 305. Bond trade was well diversified, but quiet. 0 DIVIDENDS. Corporation. Ady Rumely Air Redue d . tion doprior _pf. C-teed Pd 1st pt. do 2d pf.. €O C &StL do_pf. Commonwealth Pr do pt. Connor, East Kol Mill do pf. Edmds & Jones do . do pf. Endicott-Johns do pf... Fid & Depos ‘Co. Hutuble 0 & R Island Cr Coal s p Ky Hydr El pf. Lk Min e B Singer Mfg. Thompson, J R. SRanes %8 g8es s eferleiEzocclocelelte Yale & Towne. do . T L 2 FINANCIAL NOTES. NEW YORK, September 11.—For the fourth consecutive quarter Island full-time basis Saturday, according|Shown an increase Creek Coal Company has declared an extra dividend of $1 on the common -Noon.—— | stock, in addition to the regular quar~ terly disbursement of $2. Edmunds & Jones Co, has declared 101516 101716 |an extra dividend of 50 cents on the common stock; also the regular quar< terly disbursement of 50 cents and the regular preferred dividends, all payable October 1 to stock of record September 20. American currency from s coming back Europe in large volume, about cial).—Employment at the shops over | $22,000,000 having arrived between the entire system of the Baltimore [APril 1 and Ju 31, the greater part of it from Germany. lach month has’ n the homeward flow. April shipments approximated 1and, assistant to the president. Men |$1,661,000 and July about $9,000,000. employed in shops throughout the Currency returns in August are bee system have been working only five | lieved to have been larger than im days a week for several months,