Evening Star Newspaper, April 27, 1925, Page 22

22. % STOCKS D0 BETTER IN FINAL TRADING Slightly Firmer Tone in Spite of Depression Caused by German Election. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, April 27.—The stock market today was somewhat unsettled by the news from Germany, but the selling was not important enough to affect prices seriously. Professional traders took #dvantage of the momentary uncertainty to offer down stocks which have a none too favorable background, but these offers did not make much of an impression elsewhere. At the same time a num- ber of individual upward moves among both industrial and railway issues kept the general price level steady. Nothing New on Reading. No_further light was thrown upon the Reading situation over Sunday. The stock sold off rather sharply at the start in sympathy with the gen- eral market, but subsequently recover- ed. The demand was persistéht_enough to still suggest a special reason, sup- plementing the favorable earnings of the company and the substantial margin over the §4 dividend. Even while prices in most directions were going down the Seaboard Afr Lines were being bought at advancing price the common above 25 and the preferred above 42. dividend.is suggested for the preferred, but the last Winter has been very favorable for the road. Baldwin Under Pressure. Baldwin Locomotive and U. S. Steel were tne stocks upon which traders endeavoring to exploit the German news concentrated most of their energies. Baldwin driven down neariy 2 points, and U. S. Steel s0ld below 114, as against Saturduv's close of 115. Republic Iron and Steel | under 33 was Standing at a new iw. American Can and General Electric showed their usual sensitiveness. The oils were slightly lower with- out any notable pressure. The same was true of the Coppers, although the decline in Kennecott bclow 47 was a disappointment to bulls in view of the reccovery in copper metal. Miami Copper made & new low as it broke through 9%. The dividend, recently reduced to a $1 basis, is thought like- Iy to be passed altogether. Hudson Motor was heavily sold until it got| below 50, when it began to receive some support. Gardner Motor had a bad break, reaching a new low level. Chemical Below 30. Selling of Commercial Solvents stocks continued and Davison Chem- ical broke below 30 on the publication of the report for 1924, which showed & deficit of nearly $500,000. Further selling occurred in Corn Products in response to the quarterly report, which | made an unfavorable showing. but below 36 supporting orders came into play again. There was a sharp drop in Otis Elevator, followed by an opti- mistic statement by the president of the company. Firmness displayed in some of the public utilities. Ameri- can Water Works was well taken care of and Virginia Railway and Power was carried up to a new high. The story is that two of the big public utility companies are bidding for this property. Market's German View. The superficial view on the German election was that it ralsed unfavora- ble possibilities for the economic re- construction of Europe. The new President, Von Hindenburg, was not opposed to the Dawes plan. but was quoted as saying that whether or not it could be carried out in full would depend upon the circumstances of the future. Inasmuch as the German loans raised in the United States were Noated on the confidence that the Dawes pian would go through, it was easy to understand the trepidation shown in the market for the bonds today. Naturally, too, valuations of French securities, which are sc much bound up in German. reparations, were equally sensitive MARKET CLOSES STEADY. By the Associated Press NEW YORK, April 27.—Stocl prices turned reactionary at the o»ening of today’s market on short selling in- spired by the election of Field Marshal von Hindenburg as President of the German republic. When bear traders discovered, however, that they were not bringing out much long stock they began to cover, and prices snapped back briskly during the aft- ernoon. Trading was unusually quiet, | s sales agsregating 850,000 No immediate The closing was steady. Resumption of bullish operations in several special- ties brought about a brisk rally in the final hour. United States Cast Tron Pipe rallied from 134 to 150, Laclede Gas soared 12 points and Maxwell Motors “B.” Utah Securities, Missouri Pacific preferred and American Agri- cultural preferred advanced 3 points or more. Markets at a Glance YORK—Stocks—Irregular; U. Iron Pipe rallies 16 points. German bonds react Foreign Exchange— Lower: advance halted by German election result. Cotton—Weak; b@ne ficfal rains in Texas. Sugar: s trade selling. Coffee—Higher; aleudler Brazillan markets. CHICAGO—Wheat—Lower; foreign demand. Corn--Ea. pectation Iarge acreage. Steady. Hogs—Lower. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ——Noon.—— SO 3 33 ‘el . 5. . Copper. 8 1630 Anglo-Amer, OIl 714 1025 Associated Dxl Ba 35 . Baltimore & Ohio 6s 1920, Bethichem Steel 58 1038 . ‘-mnl of \mnrnl 6s 1020.. hX Mil \, & S s 1034 S50 325223 S Federated Metals Goodyear T. & B. 8a 1931 Groat Northern 7s 1930 Gult off Cor, Pa5 }.(‘.‘}‘n‘u S8 10d ahikh_ Pw. Sec. C. Gs M. SUP. & 8.8 M. 814 Vlnrml & Co. Tl%s 1630 ... New Yotk Central 0s 1035 | Qrsgon Short Line 4s 102 1625 & h il Tidrvuler on fl‘ s 1031 Union S5 00500MS55 005! 238253R8IS2R=S (2 . FEE R PREESESTERESEEE. SRR S e BE SRR o s e e i i ppapatdiamaiit S FINANCIAL. # 'ld Phoenix NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Low. Closs, 83l 33% 324 33y lOAVx 104% 103% 104 4l% 40% 414 80% 29% 80w 52 51 B2 24% l“. I“ 64 Open. High. 90 90 . 90 90 51 61 101% 10;& Int Com Eng (2). Internat Har (6) Int Mer Mar pf. . Int Nickel. . Int Paper. 7 Int Ry Cent Am. Int Ry CA p¢ (8). int Shoe (6).... (nt Tel & Te! (6) Jewel Te pf (7). Jones Bros T Jordan Mot ( Kan City South. Kayser (Jullus). Kelly-Spring. Kelly Spring 1st. Kelly-Spring pf. Kennecott (3) KeystoneT & R. Adams Exp (6). Ad Rumley pf (3! Alr Reduct (4).. Ajax Rubber.. .. Alaska Juneau.. 1% Allied Chem (4). 85 Allled Cm pt (7). ]l. Allls Chalm (8). Am Agricul Chm ° Am Ag Chm pt.. Am Beet Sug (43 m Beet S pf (6] Am Bosch p.,(_) Am Brk Shoe (5) :m g-n 9., m Can pf (7).. AmCar& F ¢12) Am C&Fdy (n). Am Chicle. . Am Drug (800 Am Express (6). Am & For Pow. Am & Fr P pf (1) Am Tce (7) Am LaFrn pt (1) Am Linseed Am Linsd pf 3% . \m Laco (118) Am Metal (3)... Am Radlator (4) Am Ry Exp (6).. Am Safty Rz (3) Am 8hip & Com. Am Sm & Ref (6} Am S &R pf (7). Am StI Fdys (3). Am Sugar. Am Sumatra. ... Am Sumatra pf.. Am T & Tel (9).. Am Tobacco (7). Am Tobac B (1) . Am Tobac pt (8 Am Typ Fdrs (7) Am WW&EI 30c. Am Woolen. .... Am Wool pf (7). Am Writ Pap pf. Anaconda (3)... Ann Arbor pf. Archer-Daniels. Armour I11 A(2). Arn Cons & Co.. Ass0 Ol (1%)... AtT &S Pe (7). AT&SFpt (5). Atl Birm & At... Atlantic C L (1 AtGuif& WI... At Gulf & WIpt. Atlantic Refin. .. Atlan Ref pf (7). Atlas Tack. . Austin-Nichol: Baldwin L (T) Eal & Ohlo (5) Bal & Oh pf (£). Bang & Ar (3).. Beech Nut (2.40) Bethlehem Steel Beth Stl pf (8).. Briggs Mfg(3%) Bkl Edison (8).. Bkl-Man Tran. . Bkl Union G (). Erow~ Shoe (4). Bruns-Balk (90¢) Burns Bro (10).. Burns Br B (2).. Butte & Su(50¢) Butterick Co Caddo Central Cal Packing(6). Cal Pete (1%)... Callahan Zin; Calumet & H 50c Can Pacific (10). Case Thresh pf.. Cent Leather. Cent Leather pt. CRRNJ (112).. Century Rib (2). Cero d Fasco (4) Certain-Teed. .. Chand Mot (3) Ches & Ohlo (4). Chi & Alton. .. <hi & Alton pt. Chi& EastIil... Chi & Est 11l pf. Chi Great West. Chi Gr West pt. 88% 107‘( IMK 107% 18% 18% 48% 8% 33 33 107!4 18% 48% 83 22% xm JSK 4% 2% 75 370 113% 189 58% 64 284 84 50W 47 33 22% 16 50 48 4T% 2% . 8 . 885% Kresge SSpf(7) 118% Laclede Gas (8). Lig & My B (14). Lima Loco (4).. Loews Inc (2) Loft....... Long Bell A (l) Loose- Wil Lorrillard Loulisiana Ofl... Louls & Nsh (6). Ludlum (2). . McCroB (1.60). . MeclIntype P (1).. 113% 118% 169 156% 584 68% 84% 34 17 16% 109% 109% 38% 37% 82% B2% 16% 16% 1164 1164 144 139% .76 18 39% 384 26% 26% 52 62 ATH 5T% 48% 6% 26% 26% 49 49 36% 856% 1% 114 2T 274 68% 684 A 107% 106% T84 T4% 102% 102 i 19% 19% 16% 164 944 26% % Macy HR & Co.. Magma Ceppor.. inson & Co. ElSup (4). Man E md & (5). Manila Electric. Maracaibo OMl... Market St prior. Marland Ofl. ... Mar-Rock (26¢) . Martin-Pry (4). Mathieson Alka. Maxwell Mot A. Mlx'all Mot B. y Dept St (BI \ietro G pf (1.89) { Mexican Seabd.. Atiami Cop (1).. Mid-Continerit Mis Kan & Tex.. Missour! Pacifle. Missour! Pac pf. Mont Power (4). Montgom Ward. Motor Whi(75¢). Murray (2.40)... Nash Mot (11).. Nat Acme (sta). Nat Biscuit (3).. Nat Cloak (4)... Nat Dalry (3). Nat Dpt Stores. . Nat D St 1st (7). Nat Distilles Nat Distillers pt. Nat Lead (8) Nat Ry Mex 2d Nevada Copper. Nwpt U Gas (5). Nt NG&E pf (7) N Y Air Br (4).. N Y Canners (2) N ¥ Central (7). NY C&St L (6) 93% 43% 364 4% 114 126% 126% 26%, 25% 0% 30% 2t 21 27 26 1304 1295 % 71% 65 dd% 484 484 59% 58% 112% 10 55% Norfolk South. . Norf & West (7) Norf & W pf (4). North Am (3.40) North Am pf (3). North Pac (5)... Otis E'levllor ") eel su.lp 4 s Bot (3).. Paoific Gas (8).. Pacific Mail. ... Pacific Ol (2)... Packard (1% Chi Mil & 8P pf. Chi & Nwn (4).. Chi & Nw pf (). ChiPneu T (6).. Chi R1& Pac... CRI&PDI(6). CRI&PpE(T). Cbllds (12.40). .. Chile Cop (2%). Coca-Cola (7)... Colo Fuel & Iron Colo Southern. ... Colo Sou 18t (4). Col G & E (2.60). Col G & E pf (). Col Carbon (4) Com Solv A (4).. Com Solv B.. Congol-Nra (3). Conley Tin Foil. Consol Cigar. ... Con Cigar pt (7). Con Distributrs. Consol Gas (5) Consol Textile Cont Can (4) Cont Can pf (T) Cont Insur (6).. ‘ont Mot (80c) Corn Prod (2)... Crucible Stl (4). Cub Am Sug (3). Cub Cane Su pf.. Cuyamsl Fr (). Cuyamel Fr rts. Davison Chem. Deere pt (3). Del & Hud (9). D &R G Wst pt. Dodgs Bro pf wi. Dome Mines (2). Doug Pectin (1). Dupoat (10)..... L DuPont deb (6). Duquesne pt (7). Pan-Amer (6) Pan-Amer B (6 Park & Tilford. Penick...... Pennsy RR (3). Penn Seab St Phia Co (4). Phia Copt (3). Phila& RC&T. Phillip Morri: Phillips Jone: Phillips Pet (2). Phoerix pf (7) Plerca Petrol Pitts Coal. . Pit Pitts Ter pf (6). Pitts Ut pf 1.20. Postum-Cer (4). Prod & Refiners. Pub Ser N.J (5). Pub SNJ pf (8). Pullman Co (8). Punta Al Su (5). Radio Corpof A. Radio C pf (3%) Ray Cons Cop. ‘Reading (4). Reading 1st (2). Remington Type Replogle Steel. . Rep Ir & Steel. RepI& Spf (7). Reynolds Sp (1). % 18% llS‘t 115% 114 23 23 23 654 654 65w 110 110 110 188% 183% 133% 424 42% 59% 614% Roy Duth 4.42%. Rutland pf..... St Joseph Ld (2) StL & San F (6) StL SanF pf (6). St‘L Southwest. 108% 108% 24% 26 40%5 43% 163% 153% 1. 6 Elec Str Bat (4) Elk Horn End-John (6) . Enfllcol( pL (D). 108% 26 43% 153% 6% 5% | Seabd Alr LiDf. . Sears-Roebk (6) Shattuck-Aris. . Shattuck FG (2). Shell Trad (2.06) Shell Un (1.40).. Shell Un pf (6). . Simmons Co (2). Simmons pf (7). Simmas Pet (50c) Sinclatr Ofl. . Skelly Oil Sloss-Sheft (6) Sloss-Sht pt (7 South Pac (8 Southern Ry South Ry pf (B). Spicer MIg. . Std Gas & EI (3) St 0il Calit (3). StONNJ (D). StOIINJTpt (M. Std Plate Glass. Sterling Pr (15). Stew Warnr (6). udebaker (4). Submarine Boat. % | Superior Ol Symington... Symington A (l) Erie 2d pf. . Fairbks 260 ous Pl (8)... eral Mine Fisher Body (6). Fisk Rubber.. Fisk R1st (1)... 92% 924 103% 103% 85 18% 58% B8% 40% 41% 117% 117% 1 11 Fresport Texas. Gardner Motor. . Gen Am Tnk (3. Gen Asphait Gen Baking ( un u( r(8) tric Gen 5 spl (600). Gen Motors (8).. Gen Mot pf (7). 1 Gen Petrol (3) Gen Refrae (2). Ginter Co (1%). Gligden Co. . Goodrich. . Goodyear pf (7). Gdyear prior (8) Grt North pt (6). Gt Nor Ore (1) Grt Wstn Su (8 Guit Mo & Nor. Guit St Steel (5). Hartman (2%).. Hayes Wheel (3) Hays W pf (T%) Hoe & Co A (4) .« Homestake (17). House P (13%).. Houston Oll. ... Hudson Mn (%) 105% 106% as Gulf (7). Tll 2% Tex & Pacific ¥ | Tex & PacC &0 Third Avenue. .. Tide Wat Oil (4) Timken R B (14) Tobac Prod (6). Tobe Pra A (7). Transcont Ol .. Transue & W(2) Un Bag & Paper. Union Of (1.80). Un Pacific (10).. 4 4 26% 264 40% 404 364% 52 SEGRSIRSR222222 Fi ey BE3505655055555! SEER3I533933 ® # N Westinghouss B. & TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) Offer. 0 Hudson Mot (3). Hupp Mot (1)... Rllnou Cent (7). 1 Cent pt (8 independ Ol Indian Motorcy . Indian Refining. Un Pacific pf (03 Un Tank Car () Utd Clgar (13%) United Drug (6) Utd Drug 18t 3% Utd Fruit (10)... 63l 85% 147% 82 28% 84% U 8 Distributing US Hoff (3).... US1IndAlcohol.. 88% 84% . 83% 8% | U S Realey (8).. 137% 139 185% THE . EVENING STAR, WASHING’I‘ON D. GERMAN ELECTION BLOW T0 BONDS Foreiyn Issues Slump Quite Sharply on Reports From Berlin. BY GEORGE T. HUGHES. Special Dispatch To The Star. NEW YORK, April 27.—Interest in the Bond Market today centered upon the effect of the German election on French ‘and German Dollar Bonds. Both broke rather sharply, the loss in German 7s being the more pro- nounced. Under pressure of offerings the price dropped to a low of 91% before ral- lying. )'l-‘rench Government bonds declined almost as much but the French bonds normally vary over a ‘wider range than the Germans. French 7s ahd French 8s lost about a point and French 7%4s at one time were down nearly 2 ints. The best opinion was that the election of Von Hinden- burg did not impair the real value back of either German or French is- sues. Jugoslav 8s were weak, down a point. Austrian 7s lost ground moder- ately in sympathy with the German bonds and so did Prague 7igs but Czechoslovakia 8s were higher. Domestic Issues Quiet. Trading in domestic issues was very quiet, but all the high-grade bhonds were firm and most of the Liberty issues higher. Atchison General 4s sold above 91 again, and Southern Railway 5s at 103 equaled their high of the year. American Smeliting and Refining 58 were also at their. top price of 98. Chicago, Terre Haute and Southeastern Income 58, which had such @ remarkable rise last week, sold down a point and a half. St. Louls- San Francisco issues generally were a shade Jower, but the Seaboard bonds about held their own. Interborough bonds were a shade higher, but Third Avenue Adjustments were very weak. Ofl bonds were most- 1y lower. It is an interesting fact that the most active bond on the entire list, in- cluding Libertles, during all of last week was the Dodge Brothers 6s, which sold in volume a little 2,000,000 par value, and all this at practically- the same price, representing, of course, the syndicate market. Germany Worries France. By the Associated Press. NEW YORK, April 27.—A sharp reaction in German 7 per cent bonds, inspired by uneasiness over the elec- tion of Von Hindenburg as President of Germany,.exerted a depressing in- fluence on bond trading early today. With the German obligations declin- ing almost' 2 points to a record low level of 918, prices crumbled through- out the foreign list, carrying French, Austrian and Serbian bonds 1 to 2 points lower. Selling of all French securities was prompted by the bellef that the political and financial dif- culties of France would be Intensified by the outcome of the German elec- tions. Unsettled by the weakness of the forelgn bonds, the rest of the market developed a reactionary tone. BUSINESS AS WHOLE IS NOW DOING WELL Retail Trade Reported as Espe- .+ cially Good During Past Month. Special Dispatch to The Star. NEW YORK, April 27.—The out- standing feature of the business situ- ation this month states the Guaranty Survey, published today by the Guar- anty Trust Co., has been the tendency toward stabllization, following the downward reaction in some lines of production and in general commodity and security prices. Increases in some branches of trade and indistrial activity are offset by declines elsewhere, the Survey con- tinues. In some degree this irregu- larity is a seasonal phenomenon. Re: newed strength in security prices has been shown in recent weeks, and commodity prices generally have been steadier. The net result of recent de D- ments, it appears, is that business as a whole is proceeding in a fairly satisfactory manner. There is no evi- dent basis for expecting more than a moderate expansfon in the imme- diate future; neither iz a general de- pression in sight. Probably not until crop prospects become more clearly defined, at the earliest, will any mark- ed departure from the present scale of general activity occur, aside from normal seasonal varlations in par- ticular flelds. Retail trade has been especially well sustained. DODGE PLANS READY. NEW YORK, April 27.—Armnounce- ment is expected this week of the date on which the common shares of Dodge Bros., Inc., will be separated from the preference shares. Both fs- sues will be listed on the stock ex- change. The directorate will be an- nounced in a few days. DRY GOODS MARKET. NEW YORK, April 27.—Cotton goods markets began the new week quietly, with no price changes of note. Print cloths stood at 9% cents for 64x60s and 114 for 68x72s. Raw silks were quiet and unchanged. % us Rulty Pt (7) ls! 138 U S Rubber. U S Rub 1st US Smelting () 138 138 40! 39 ‘Wabash DfA(‘). ‘Waldorf (1%).. ‘Ward Baking B. Ward Bak pf (7) West Pen (4)... t (1) West Elec pf (7) ‘West Maryland. West Md 3d pf.. Western Pacific. West Union (7). West Alr Br (6). Westinghse (4). ‘Wickwire Spen., Wilson & Co. Worthton B Wright Aero (1) .18% 1 Youngstown (4) 84% ° {Partly extra. tPavable it the l:‘llll o Y i fatest or ble Skelly Oil l“ -} South’ C., MONDAY, APRIL 97, 1925. l ON NEW YORK BONDS STOCK EXCHANGE l Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. . Low. Closs " 101 101 % Close. 1034 108% 1017 1013 1013 % 109% 109% 81021 101381 1021 2 1 102% 103% 1020 . 308 10110 101 6 10110 19 86% 86 280 102 10130 102 2 100 106w 108% 405 1028 1022 1027 26 106% 106% 106% 201 101 13 101 10 10118 | Va-Car Chem 7s.. 113 93 323 10511 1056 10511 | Va-CarCh734sw. 26 60% 59 3 Vertientes Sug 7s. FOREIGN. Warner Sug 7s'39. Sales.-High. Low. Close. | Warner Sug 7s *41. Argentine 6s A..,. 26 961 Lib 4 4%s. . US4s1944. US4ys's2. Westinghouse 7s. . Willys-Ov 6148 Wilson & Co Wilson&C ov 713 Winchester A 7% IDIK 101% Youngstn S&T 6u. 954 Ann Arbor Atchison adj 4s Atchison gen 4 Atlantic C L el Atlantie C L 1at 4s. Atlan CL ¢34 64, AtlantioCL7s B& Ogold 4s.. 61 84 90% 85% 93% 934 92% 92% 106% 106% 89% 89% 92% 92% 88% 88% 102 101% 102 103% 103 103 3 103 102% 102% OPLEWV4s.. 2 88 88 88 B&OSWdiv3ts. 13 100% 100% 100% B & O Toledo 4; T4% T4 144 Bkliyn-Manhdt £61% 86 864 Buff R & Pitt 4 8114 81% 81% Canad North 6% 118 UT% 117% Canad North 79 116% 116% 116% Canad Pac deb {s. 80 19% 79% Cent of Ga 6s 103% 103% n 96% 95% 90% 90% 1034 103% 52 82 914 91% 67 8¢ 50% 85% Brazil 7s. Brazil T%s. Rrasil gs. <1 Canada 53»s 1929. . Chile 7s 1948 4 Con Pow Japan 7 Copenhagen 651y Cuba 5%s.., Czecho 8s 1951. ... Czecha 88 1952 ct. . Danish Munfc 8s A Danish Munic 8s B Denmark 8s. DE 6% Mch '53. gu):'thSE%u:lxuv 3 Chi & Alton 3%s o as! Ch! B&Q gn 48 '68. utch East I CR&Q-IIl 334 &1 ador 8848, CB& O} Framerican T%s. . 5i et ¥rench 7s. So-8abans =SS 33 sergens U M 6847 Lyons 61 . Marseille 6; Mexico 4s 04 asnt. Mexico 45’10 asntd 11 Mexico 58 assented 1 Netherlands 6s '54. 33 Netherlands Norway 6s 1943. Norway 6s 1944. 80 102% 116% 1021 102% Chi Un Sta 614 1164 115% Ch1 & W Ina Norway 8 Orlent Dev dsb 105 100% 9844 944 10%% 106% 1034 1034 100% 100% 981 98% 93% 94y 103% 103% 106% 108% 834 9% 574 90% 0% fi% 69% 105 103% 1034 107% 10745 116% 1164 100% 1097 109% 109% 863 S914 2% ©8% 64y (23 684 104 70% 6044 Pa% 2% 804 5% Cleve Term b: C &S ist4s'29 Colo & Sou 43 CubaRR 7% Del Hud cv 55 '35.. u Den & Rio G cn 4s. D & Rio G imp 5s. . D & Rio G Wst Det United 4% Erle 1st cons ¢ Erle conv 4s A Prague T%3. . Queensland s Queensland 7 Rio de Jan Sao Paulo State 88 15 Seine Dept cf 7s...130 Serbs Crot Slo 8s.. Sotssons 68 114% 117% 106% Ud Steam Copen 63 4 92% Uruguay s . 3 108% MlscELLANIOU& Ajax Rubber 8s. Am Lgr Chem 1%! \5 Am Chain sf Am Repub deb Am Smit & R 15t 3¢ Am Smit &R 6 Am Sug ref 6s. Am T&Teltr AmT& Tecltr AmT&Ts?S AmT & Tdeb 5 Am Water Wks Am Writ Paper 6s., Anaconda 1st 6s. . . 2! Anaconda cv db Andes 7s So% od. .. Armour & Co 4%, Armour Del b%4s. . Associated Ol 6s. . Atlantic Refin 6: Barnsaan Bell Tel Pa Beth Steel pm 11 C-C 8t L&NO 53 28 Int Rap Tran b 1 Int Rap Tr 5s fipd Bfl Kan Cy Term 4s Lake Shore 4: 985 Lake Shore 4 Louls & N uni 4s 9% 4y Louls & N6sB.... 102 105% Market St Ry 7s. 97% 98 MIIEIRy & L6s... %8 - g8 20 20 20 103% 1083 824 82l 6% 78 83% 84y 93% 934 4 103% 103y MK&TprinbsA MK&T6sC.. Mo Pacific gen 4s. . Mo Pacific 55 “63. .. Mo Pacific 6 Montrl Tm : NOTex& M in Ss. 99% 104% 101% 91 85 Beth Steelst6s... 93% Bklyn Ed gen 6s. . 0 106% 101 NYC&StLdb4s 948 .i’.‘. NYC&tL6sA. 103% 103% New Hav d 45’57 55% 55 boY 8% s 65% 65y 645 641y Y sl 120 Commonwth P Con Coal Md 1sf Con G NY 5%s wi 145 Consumers Pow 68 26 Cuba Cane cv % Cuba Canecvd Cuban Am Sur 8 Denver Gas 6s.... Det Edison 65 '40.. Dodge wi 63, Donrier Steel 7s... b Du Pont 8e N 73%s. 17 Duquesne Light 6s 54 Est Cuba Sug 7% Emplre G&F 734 NY W & Bos 4%s.. Norfolk & W en Norfolk & W cv Northern Pac 3 Northern Pac 4 Northern Pac 88 Ore Sht Licn 58 4. Pennsyl con §%4a. Pennsyl gen 4% FINANCIAL. PRICES OF WHEAT IN SHARP TUMBLE Fall in Liverpool Values and Rains at Home Cause Very Heavy Selling. By the Associated Press. CHICAGO, April 27.—Wheat prices went sharply downgrade today as soon as the market opened. The overturn of values was influenced chiefly by & fall in quotations at Liverpool and by heavy rains in the Southwest. General selling on the part of commission houses was in evidence with some selling credited to foreign accounts. The opening, which ranged from 1 to 2% lower, May, 1.46 to 1.46%, and July, 1.36 to 1.37, was followed by a mate- rial further setback, with May touch- ing 1.44% and July, 1.35%. Persistent selling in small lots weakened the corn market and oats as well. About the only buying came from previous sellers who were in a position to collect profits. After open- ing at % to 2% cents decline, July, 1.06% to 1.07, the market sagged a little more. Oats started at i to 1 cent lower, July, 42% to 43% and later continued to recede. Provisions were responsive to the weakness, both of hog value and of corn. WHEAT— Open. M 146 Bt pa RROR & 8! oo kg 273 E83 83N 283 July Mpumber CORN; o 85k e oo st S May July s R £33 kib 22R 20 wa 222 Re Do wak 20 Ly D20 imib S SR wat 83% Iy @ a3 223 823 yrx ok 2 A S July Septembef Washington Stock Exchange SALES. Potomac Electric §. & r. t 5 wun‘fnnon Rwy. & Elec. pfd.—10 at 81, 15 _at 81 78 '41—8$1,000 £xs Nationsl Bank—10 st 34 Aerican Security & Trust Co.— AFTER CALL. Capital Traction Co—1 at Potomac Electric §. & T at Elec. at 326, 93 78 41—$1.000 Wadntngton Ry & com.—60 at 109, 80 at 109, 50 at 108 Wash. Rw. Elec. pfd—40 at 81%, com.—80 at 109 +-51,000 al"m % 9 sn—sl.ooo at 10 at 1st i Lmllnn , Monotype—10 at 80%, Wishintion (s 5+—$500 at 99 Money—Call loans 5 and 6 per cent Bid and Asked'Prices. BONDS. PUBLIC UTILITY Amer. Tel. & Telza. 4s. Lohgiomse Electric % - &' diburban e Georgetown Gas lst Potomac Elec. 1st B5s.. Potomac Elec. cons. S Potomac Elec. 6e 103 Bt El Fo Waeh Alex. & Mi. Ve Washington Gas 5t Washington Gas Wash. Rwy. & Elec. Wath: Rvy: & Flee eon. 66.. 108% MISCELLANEOUS. Paper 5. Pat” ot Stosk Ld. B Riggs Realty 5s (long Ricgs Bealty 5¢ (short) Southern Bidg. 6148 Wash. Mkt Cold |or-|u Wardman Park Hotel 8s. STOCKS. PUBLIC UTILITY. American Tel. & Telga. Capital Traction Washington _Gas. Norfolk & Wash, Stmbt Wash. Rwy. & E Wash. Rwy. Terminal - [Stellwagen, 80" 1015 | GASCOMPANY'SNET DECLINES $36.000 March Statement of $41,657 Income Gives Reason for Stock Market Level. '] BY CHAS. P. SHAEFFER. Answer to the prevailing level for stock 0f the Washington Gas Light Co. was found this morning in the March statement of income, filed with the Public Utilities Commission. The net corporate income of the utility for the month amounted to only $41.857. & loss of approximately $36.000 over the corresponding month of last year, when $78,088 was reported. A huge decline in sales of commer cial lighting gas, ordinary meters, was wholly responsible for the adverse showing, a perusal of the report indi- cates. This item, in the past month, produced revenue of $375385, as against $406,102 in the same month of last year. Total revenues from opera- tion aggregated $419.711, a decline of about $32,000, while expenses of $307.- 973 represented but little change from March, 1924. Taxes totaled $25.817, and deductlons amounted to $43,875 Net corporate income of the George- town Gas Light Co. during March, amounting to $3,358, was only half aa great as in the same month of last vear. Operating revenues of $47,458 were approximately the same but ex penses gained about $4,000 to $39,243. Bankers’ Council to Meet. The council of administration of the District Bankers' Association will hold & meeting this afternoon at headquar ters in the Masonic Temple. Routine business ‘is due for discussion, and there are also applications for mem bership from the Chevy Chase Savings and the Morris Plan Bank which will be acted upon. A foundation for the furtherance of educational work in American bank- ing circles was approved at the an- nual Spring meeting of the executis council of the American Bankers' As- soclation, concluded last Friday at Augusta, Ga Under preliminary plans adopted the meeting the foundation will begin functioning upon the fifteenth ann versary of the American Bankers' A soclation this Fall with initial mini- mum resources of $50,000. A goodly part of thig sum was subscribed at the meeting. The functions of the have not been definitely outlined as yét. Joshua Evans, jr., executive vice president of the District National Bank, who attended the sessions, is the opinion its funds will be expend In aiding only the worthy who handicapped by lack of sufficie funds. o <Woman Lightning Counter. This actually happened at the Se j éurity Savings and Commercial Bank A woman customer, carrying a sav- ings account of .several hundred dol- lars, came into the bank recent asked for her money. When asked by ank officials, who Sended some con- uctive criticism of their adminis- tration, the reason for the with |drawal, she said: “T am not drawing my money; I'm si | how much I bave. The figures pass book mean nothing to me. as I can neither read nor write—but I can sure count like the devil.' " Buys Local Exchange Seat. The Washington Stock Exchange to- day added a new member, Edward L. Hilyer of the Union Trust Compan who purchased the seat of Edward president of the Union foundation Trust Co. Trading on the exchange brought out a strong tone in utility securitie Railway common sold to the extent 250 shares at 109, while the preferred galned fractionally to 813 on sales of 137 shares. Capital Traction was firm but unchanged at 93. Railway 4s moved upward fractionally to 179%, while Potomac Electric 7s sold at_107%. Riggs National Bank opened at 343, but later eased off to 342%, and Amer ican Security and Trust Company was unchanged at 325. = Lanston was slightly firmer at 807%. ® L C. C. Halts Rate Move. Proposed increased rates on iren and steel articles from Cleveland, Canton and other points on the Wheel ing and Lake Erie Railroad were held to be unjustified today by the Interstate Commerce Commission. The increases would have ranged from 1 to 3 cents per 100 pounds to destina o 38w Natlogal Bank 6f Wash. TRUST COMPANY. American Security & Trust Continental Trus Fisk Rubber 8 Goodrich 8% v Goodyear 8s 1931.. Goodyear 8s 1941.. ‘Hoe & Co 8%s. Humble O&R 5“!. 12 I1linois Bell 1st 8 [llinois Steel 4% Indiana Steel 58 Int Mer Marll Inter Paper.6s 4% KC Pausu\n. 1 Kan G & EI 61 Kelly-Spring Lackawa S b Caclede G 5% '82. Loulsy G & E 58 ‘62 Magma Cop ev-Ts. . Manati Sug sf 7%s Midvale Steel 83 .. Montana Pow &s Mor's&Co 1st 4% Pennsyl 58 '64. Pennsyl 645 Pennsyl gold 7 Pere Mrq 18t 48 '56 Pere Mara 1st 55 Por RL& P 68°47. Reading gen 4 3« Rio G West 15t 4 Ric G West cl 48 St L IM&S 43°2 St LTM&S R&G ¢s. StL&SFplisA.. StL&SF prin bs. StL&SF 5%sD.. StL&SFadj StL&SF incé: StL&SFpl StLS W con St P & KCShL ¢%s Seab'd AL 4 B Seab'd ALrefds.. Seab'd A Lad) Pennsyl gen bs..., 8 Southern Ry g 4. 844 - 78% Southern Ry 1st 58 102% 102% Southern Ry u ct. 1064 1051 Southern RY 6% 1104 1104 Sou Ry Moblile 4s.. % ‘ acv. Third Ave ref 4s... ‘Third Ave adj Union Paoc 1st 4». Unlon Pac 18t f 48 Unlon Pac 482 Un Pac 1st rf & virginia Ry 1st va Ry & P 18 Wabash 1st u Washash 3%8, '76.. 2x Western Pacific 83 21 West Shore 1zt 4s. Wilkes B&E 1st b8 6 WisconsinCent és. 2 784 ——— OTIS STEEL JUMPS. NEW YORK, April 27.—Otis Steel Co. reports ne# profit of.$329,263 for the first quarter, after interest and taxes but before depreciation, com- pared with $174,071 in the same period of 1824. This was equal to $3.66 a share on the cumulative preferred, on % | which_no dividends have been paid slnc‘;.luly. 1921, and 22 SSots e ahare 00% [ on the common, against.$1.97 on the preferred & year ago aud 3 oeats pn NY Tel 4%4s. NY Tel 68°41.... =t waaBvanw 37;. xm 93% 9.1 88 % 994 Db% 108% 1061 99% 93 96% 963 100'6 10074 % 95% 94 !B‘fi ‘I!% Nor States Pow Otls Steel 73%8. Ppacific Gas & BI5s Tée T 18t 58. .« EaoTaTESBE -Amer Pet: b e [N - - - ErrBarraSon @ W RO~ Sinclair Ol 6354, .. Sincladr Oil T 8in COPLE: Bin Pipe L Southwest Beuss s Columbia Title. . Real Estate Title. MISCELLA\'IOUS D. C. Paper fi'nmfi?l Tiotype uthaler Natf Mige. & Invest. pf Security ‘Storage.. Washington lhrke Yellow. Cab... *Ex dividend. GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Ger St (win) Be 1014-18 1409.00 ua;‘ndfl Hamburg 4 919 3 x ;—qr 83 E g Eo 2338 33! EEELR o, § i) iof 3 Ger Gen Eiec 414n 1910 Berlin, s pre-war Ham 3s, 3% & 48 Hamburg Amer Line 4138 North German Lloyd 4138 North German Lioyd. .. Prussian Consols 314 Krupp 5s 1921 seldort 4 Pranitort a-b ds pre-war Munich 4s pre.war Badische Anilin. AEG (Ger Ge E Commerz and Privat ey HPBSABSEDDILDSSH IS $3333333338323333333 1311913 FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.) Nominal - Selling checks gold value. Z London $4.868. Montrell ranc g.runeh. fraic. rlin. mark agen, o Pratlamia, crown: Stockholm,” crown. FISHER'S PRICE INDEX. NEW HAVEN, Conn.. April 27 (Speclal) "Prices. = 1863; _purchasing Crumps, 154.9, Irving m" Yale economlst, reports. tions in Ohio and Pennsylvania. The commission first had ordered the rates suspended in February. Rates on fron and steel articles mov- ing from St. Louis to destinations in the Mississippi Valley were held reasonable today by the Interstats Commerce Commission. The schedule had been attacked by the St. Louis Chamber of Commerce WEEK STARTS OFF WITH COTTON DROP Rains in Texas and German Elec- * tion Result Send Values Down. By the Associated Press. NEW YORK, April 2 Heavy gen- eral selling featured the opening of the cotton market today on reports of further rains in Texas, extending through the central and “into some southern portions of the State. First prices were 25 to 41 points lower, and the decline soon extended to 24.09 for July and 23.85 for Octobe: net losses of 43 to 51 points. pool also broke sharply owing to the Texas rain news, and while prices here rallied 10 or 12 points from the lowest after the execution of stop orders on the break, the undertons was unsettled and the bulges met re- newed selling on the better South western news. Trade interests continued to buy May here ggainst sales of July at a difference of about 32 to 35 points, leading to rumors that the notices ex- pected tomorrow would be promptly stopped. New York cotton futures closed barely steady at net declines of 38 to 44 poinis. Jumnn 23.87. New Orleans’ Quotations. NEW ORLEANS, April 27.—The English market reported heavy liquid- ation of cotton due to the German election and rains in the South caus- ing the market to open weak at losses of 25 to 30 points. The market con- tinued to ease off on reports of good rains in north Texas and Oklahoma, of trading July had traded down to 24.08 and October to 2352, or 49 to 50 points below Saturday’s close New Orloans cotton futures closed steady at net decline of 39 to 47 point: May July December Jenuary.