Evening Star Newspaper, May 25, 1925, Page 24

0 * STOCKS SLOW UP AS MARKET GLOSES Cross Currents Develop in Afternoon—Two Score Is- sues at New Tops. BY STUART P. WEST. | Dispatch to The Stas NEW YORK, May 25.—New high ccords were common on the stock schange today. There were at least tocks h sold above their best of New high prices were for the most part made in stocks in which the ic is only slightly interested, and wiich can be readily moved one way o1 the other on comparatively small Among these were cer- tain of the tobaccos, one or two of t hain store shar stocks, some of the motors and a few wf the raus. Auto Reports Stir Street. Wall Street was aroused by the re- norts over Sunday regarding condi- lons in the automobile trade. These out previous information that sroduction has been on the increase, nd that the trade is facing a year { large profits, on account of big out- her than because of high prices. The railway shares came to the front and displayed greater strength han they had in some time. While s demonstration in the rails was progress, active profit taking oc- ed in the industrial section, carry- g many of the recent favorites down <harply. There were, however, sev 1 individual upward moves in this Juarter, but it was evident that specu- ive syndicates were finding it more “ult to bid up their specialties. Steel Common Off. 5 was persistent in the in Austrial leaders from the start. United States Steel common, Baldwin Loco- motive American Locomotive, Ameri- can Can and most of the olls were subjected to pressure. In the after- bon Steel common sold well below 118, and this had an unsettling effect »on the entire list. The motor stocks were strong for a time under the lead of Packard, which sold above 9 in further response to he calling in of the preferred stock. tudebaker, on a large turnover, sold around top figures and General Mo- tors around 7715. But as the day went on the selling movement reached the motor_stocks and_the Pierce-Arrows and others, which had been prominent in_the recent trading, came down. The buying in the railway_ group lasted for less than an hour. During this period there was considerable talk about the disposition of the Cen- al Railroad of New Jersey and how it would affect Reading, which owns ihe majority of the stock. dJersey Central Jumps. Ceptral of New Jersey ran up an- other 5 points following its 15-point advance of last week. Reading, above %4, was up nearly 3 points. There as quite a bit of buying for a time in B. and O. and in Lehigh Valley, in Atchison, in Delaware, Lackawan- na and Western and in the shares of some of the Northwestern railroads. Uniont Pacific sold above 141, Cana- dian Pacific was up a point, Atchison was quoted 121 as against last week's low of 119, and New Haven following the upward movement in the bonds, was actively traded in just under 35, an advance of nearly § points from a week ago. A well defined story of a steel mer- ger which would take in Otis ac- counted for the buying at advancing pridy in the shares of the Otis Co. Special buying developed in American Linseed, crossing 30, and new high records were made in United States Industrial Alcohel, Spicer Manufactur- 5nb¥:nd Union Bag and Paper. Great ‘WeStern Sugar was the only sugar stock which did much. The rise in Park & Tilford kept on, and Wright Maeronautical made a new high. Sterling Very Quiet. Sterling exchange moved scarcely any. The decline continued, however, In French francs. At 5.09 the rate vas very little above the minimum of £.03%¢, on March 3. This may or may ot indicate further transfers of i'rench capital seeking refuge in other countries—that is to say. a renewal of “flight from the franc,” which wwas such an incident in international iinance five months ago. But at least suggests a very uncertain feeling s 1o how the proposals of the new French government for heavily in- «reased taxation are going to work out operations. CLOSE IS IRREGULAR. Motors and Utilities Selling Wave. Ma tment of speculative ac- professional traders ac- counted for the mixed price move- ments in today’s stock market. Steels, public utilities and several of the mo- ors were in supply, but heavy accu- lation took place in the food, chem- coal-carrying railroads and mer- ndising with over two- ing through to new vak prices for the vear. Total sales approximated 1,700,000 shares. The closing was irregular. Trading slowed down during the late after- noon. Lackawanna was bid up to a rew 1925 high, above 147, but curious «ross currents of prices characterized he rest of the list. Steels, in Markets at a Glance Stocks irregular; mer- ues at new highs. Bonds -Carolina issues rally. hanges mixed; sterling decline. Cotton steady; cotton goods conditions. Sugar higher; better feeling in spot market. «'offeo strong; firm Brazilian market. CHICAGO—Wheat higher; heavy frost in Northwest. Corn strong; t frost damage. Cattle easier. < lower; large receipts. eady; Dettel NEW YORK EGG PRICES. NEW YORK, May P).—Eggs steady: receipts, 18, Tresh athered, extra 3 do. siorage packed, 5 sred, firsts, do. storage pack- fresh gathered, seconds, 3: do. storage packed, 32a3214; earby hennery twhites, closely select- «d extras, 39a40; nearby and nearby Western hennery whites, first to aver- age extras, 34a38: nearby hennery browns, extras, 37a39: Pacific coast whites, extras, 41a42; do. extra firsts, Bsalo. BUTTER HIGHER TODAY. CHICAGO, May P)—Butter igher; creamery extras, 41; standards, 112; extra firsts, 3912a40; firsts, 3718 receipts, 40,737 cases: 4a3l; ordinary firsts, 201: storage packed, extras, 3213 firsts, 82. MORE PENNSY INVESTORS. NEW YORK, May 25 (Special).— &tockholders of the Pennsylvania Rail- 10ad reached a néw high on May 1 wt 146,797, an increase of 634 over April 1 and 1,620 over May 1., 1924, Phe previous high was 146.440 on No- vember 1. 1924, FINANCIAL. { ColCarbon (4) | Com Solv A (4). {Gen Mot pf (7).. [Guit States 8(5) . NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Low. Close. 6715 67 674 67% T 58 58 58 11% 11 11% 101% 102% 101% 18% 134 1% 1% 90% 8914 4 11874 118% 4 81% 804w 21% 20% 58 56 81% 381% 3 105% 105% 1929 187% 120 120 10815 107 19 51% 514 107 107 4 6% 6% 139% 139% 85% 844 % 8915 89% 125 125 ¢ 1% 1% 72 72 108 107% 34 34 43 13 8014 29% 72 71 123% 122 48 48 93 79 52% 98 394 62 97 81 66 Abitibi Pow (4). Ady Rumley . Ad Rumley pt Ahum; (t1).. Alr Reduc (4). Ajax Rubber. Alaska Junea. .. Allied Chem (4). Allied Cm pf(7). Allis Chalm (6). Am Agricul Chm. Am Ag Chm pf. . Am Boech....... Am Brk Shoe(3) . Am Can (47). Am Can pf (7). Am Car & Fdy. Am Chicle Am Chicle Am Drug (60c. Am Express (6). Am & For Pow. . Am & F Ppf (7). Am&FP 25% (7). Am Hide & Lea Am Hide & 1 pf Am Ice (7). Am Internati. Am La Fran (1). Am Linseed. . . Am Linsd pf 3% Am Loco (+18). Am Metal (3)... Am Radlator (4) Am Ry Exp (6).. Am Safety R (3). Am S & Ref (6).. Am Stl Fdys (3) . Am Sugar. . Am Sugar pf (7). Am Sumatra. Am Sumatra pt Am Tel&Tel (9). Am Tobacco (7). 96% Am Toba B (T).. 95% Am Tobac pf (6). 106% Am WW&E] 30c. 59% Am Woolen..... 88% Am Wool pf (7). T84 Am Writ Pappf. 4% Am Zinc pf. 27% Anaconda (3 38'4 Ann Arbor. .. 31% Ann Arbor pf. 55% Arch-Dan pf (7). 96% Armour NN A(2). 21% Arn Cons & Co. 9% Artloom Corpn.. 41% Asso Dry G (3).. 2124 Asso DG 2d (7). 106% Asso Ol (1% 40 Atchison (7) 120% Atchison pt (5).. 95% AtIBirm& At. .. 54 Atlantic CL (7). 1641 AUGUIf& WI.. 44T AtlGulf & WIpt 44 Atlantic Refing.. 108% Atlan Ref pf(7). 116% Atlas T 11 Austin-Nichols.. 25% Baldwin L (7)... 114% '1alto & Ohio(5). 178 Bal & Oh pf (4).. { 644 Barnsdall A. 2314 Barnesdall rts W Barnsdall B. 18% Beech Nut(2.40). 67 Bethlehem Stl 41 Beth St1pf(8)... 112 Booth Fisheries. Brigs (3%)..... Bkl Edison (8).. Bkl-Man Tran Bk-Man T pf(6). Bkl Unlon G(4).. 901 Brown Shoe (4). 95 Brunswick (3.60) 304 Burns BrB (2).. 26% Bush Terminal.. 17 Bush Ter de (7). Butte & Su(30c). Butterick...... Caddo Centra!. . . Cal Packing (8) Cal Pete (1% ). Calit Petrts. . .. Calif Pet pf (7).. 122% Calu & Ariz (2) 48% Calumet & H50c. 18 Can Pacific (10) 145% Case Threshing.. 382% Case Thresh pf. . Cent Teather.... Cent Leather pf. CRRNUJ (112). Cerod Pasco (4. Certain-Teed. Certain-T 2d (7 Chandler (3).... Ches & Ohio (4). Chi & Alton. . Chi & Alton pt Chi & East I11.. . Chi & East Il pf. Chi Great West Chi Gr West pf.. Chi Mil & StP... Chi Mil& StP pf. Chi& Nwn (4) Chi R1& Pac. . CRI1&Ppf . ChiStPM&O.. C StPM&OD! () . Chi Yellow C (4). Childs (12.40) Chile Cop (2%2) Chino Copper-. . Coca-Cola (7) Col Fuel & Iron Colo Southern 62 Col GAE (2.80). 67 ColG&EDS (7). 109 48% 81 Com Solv B. . 7 Congolium (3)... 26% Consol Cigar. . Consol Distribut. Consol Gas (). Cont Can (4). Cont Insur (6) . Cont Mot (80¢). Corn Prod (2) ... Cructble Sti (4. Cuban Cane Su.. Cub Cane Su pf.. Cub Am Sug (3). Cuban Domin. Cudahay ctfs., Cuyamel Fr (4). Davison Chem Del & Hud (9) Del L & Wn(t7). D&RG Wstpf Detroit Ed (8). Dodge Bros (A). Dodge Bros pf. .. Doug Pectin (1). Dupont (10) DuPont deb (6) Dugquesne pt (7). Eastman (18) Eaton Axle. ... Elec Power ctfs. ElP&Lt 40% pd. El P&Lt full pd.. Elec Str Bat (4). Elk Horn pf . End-John (5) . ErfeRR...... Erfelstpf...... Exchange B (1). Fairbks (2.60)... Famous P1 (8). Famous pf (8). Fed L&T(*1.40). Fed L& T pf(6). Federal Mines Fid Phoenix ( ¥isher Body (3). Fisk Rubber. ... Fisk R 18t (1) Fleischmann (4) . Foundation (8).. Freeport-Texas. Gardner Motor. . Gen Asphalt. ... Gen Asph pf (5). Gen Baking (3) Gen Clgar (8)... Gen Electric(8). Gen El spec 60c. . Gen Motors (6).. Hoe& Co A (4).. Household P (3). Houston Oil..... Hudson Mn 2% .. Hudson Mott (3) Hupp Mot (1)... Illinots Cen (7). . Indep Ol (1).... Indfan Refining. *Ingersol R(8).. Inland St(214) Inspiration Cop. Interb Rap Tr... Internat Agri. Int Bus Mac (8). Int Cement (4). . Int Com Eng (2). Internat Har(5). Inter Har pf (7). Int Mer Marine. Int Mer Mar pt.. Int Nickel. . Int Paper Inter Paper pf... Int Shoe pf (8).. Int Tel & Tel (6). Jewel Te pf (7).. Jones Bros Tea. . Jordan Mot (8).. KCP& L 1st (7). Kan City South.. Kan C So pf (4). Kayser (Julius). Kelly-Spring. ... Kennecott (3). .. Keystone T & R. Kinney G RY1).. Kresge S S (8) Kresge Dep Str. . Lehigh Val(3%). Liggett & M(14). Lig & My B(14). Lima Loco (4)... Loews Inc (2). Loft &% Long Bell L Clas: Lorillard (3).... Louisiana O11. Louis & Nsh(6 Ludlum (2) 36% McCro B (1.60).. 93% Mack Trcks (6).. 180 Mack Trk 2d(7). 103% Macy HR&Co.. 82 Magma Copper.. 42 Mallison & Co. .. Man Shirt (134). Manila Electric. Maracaibo Ofl. Market St prior. . Marland O(75c) . Malin-Rock (1).. Martin-Pry (4).. Mathieson Alka. Maxwell (B).... Maxwell (B)ctfs. May Dept St(5). Metro Gpf(1.89). Mexican Seabd. . Miami Cop (1)... Mid-Continent Mtddle States. Midind Pr pf(8). Minn & St Louis. Mis Kan & Tex.. MK&TpL (5).. Missouri Pacific. Missouri Pac pf. Mont Power (4) . Montgom Ward.. Moon Mot (3). *MO&Essx(3%). Mother Lode Toc. Motor Whi(75¢). Nat Acme (sta). Nat Biscuit (3).. at Biscu pf(7). at Cloak (4). at Dairy (3)... at Dpt Stores. . at Distillers. at Distillerspt. t Lead pf (7). Nat Ry Mex 1st. t Ry Mex 2d. Nat Supply (3).. Nevada Copper. . NOTex&M (7). N Y Air Br (4) .. NYAirBrA(4). Y Canners(2). Y Central (7). 88 1% 102% 13% 1% 89% 118% 80% 20% 56 81% 106% 187% 120 107 51% 107 6% 137% 34% 891 125 1% 723, 107% 34 13 30% 72 122% 48 93 79 53 98% 62 8 230 A1 24% 20% 12% 125% 6474 898 109% 117% 9y 38% 28 72 81% 1201 94 10614 15% 46% 102 34 b9 27% 17 5074 2% 84 389% 3T 79% 62 62 634 29 8 49 85 19% o 118 138% 95% 4019 274 52 a4 1814 8324 81 95% 95% 126 20% “ 115% 2% 35% 82 35% 80 86 53 26% 9% T 243 6 66% 137% 43% 79 N Y Dock pf (3). N Y & Lack(7). NY NH & Hart NY On & Wn(l). N Y Shipbld (2). Niag F pf(1%).. Norfolk South. ... Norf & West(7). North Am (3.40) . North Pac (5)... Onyx Hostery Onyx Hos pf (7). Orpheum (1.80).. Otis Steel. .. Otis Steel pf . . Owens Bot (2) Pacific Gas (8) Pacific Ol (2). .. ckard (1%) Packard pf (1) Paige Mot (1.20) . Pan-Amer (6). .. Pan-Amer B (6) Panhandle. ... Park & Tilford Pennock & Ford Pennsy R R (3) . Penn Seab Steel Peoples Gas (§). Pere Marq (4) Pere M prior(5) . PhlaCo (4)..... Phla Copf (3)... Phila&RC&I.. Phila&R C&T ct. . Phillip Morris. .. Phiilips Pet (2). Pierce Arrow. Pierce Arrow pf. Pierce-A prior 8. Pierce Oil. Pierce Petrol Pitts Coal. - Pitts St1pf (7).. Pitts Ut pf 11.20. PittsUt ct? 1.20. . Pitts & West Va. Postum Cer (4).. Press Steel Car.. Prod & Refiners Pub S Gas pf(8). Pub Ser NJ (5). Pub S NJ pf (7). PubS N J pf(8). Pullman Co (8). . Punta Al Su (3). Pure Oil (11)... Pure O« pf (8).. Radio Corpof A. Radio C pf (3 Ry Stl Spg (8) Rand Mines 1.79. Ray Cons Cop. Reading (4). Reading rts..... Reading 2d (2).. Robert Reis. ... Reis Robt 18t pf. Remington Type. Replogle Steel. .. Rep Ir & Steel. .. Reynolds 8§p (1). Rey Tob B (3) Rey Tob pf (7).. Rossia rts. Royal D (4.42%) Rutland pf. St Joseph Ld(2). StL&SanF(5). StL San F pf(§). St L Southwest. . St L Swn pf ( Savage Arms. Schuite (*8).... % 58% 47 97 40 83% 48 584 337 21% . 110% 381 51 5 ot 59 40% 149% 142% 8914 123% 24% 6% 18% 164% 9T 109% 109% 18% 32% 105% 105% 65 20 68% 29 39 18 36 106 112 20 29 18 36 112 30% 30% 86 86 167% % 1 . 168% 168% 694 9 16% 16% 95 95 8674 86 116% 114 15% 15 10% 107% 66'% * 56t 97 9614 1884 185 8715 87 b %! Seaboard Air L.. TT% 77% | Seabd Air L pf. 107% 1074 | Seagrave Corpn. 544 58% | Sears-Roebk (6). 53% B4% | Shattuck FG(2): 36 38% ghell Un (1.40).. % 22% | simmons Co (2). 41% 40% | Simmons pf (7). 81% B81% | Stmms Pet (1) 104% 104% | ginclair O11 15 18 |Sinclair pf (8) et 6714 | Skelly Oil. 2 28% ““‘sma-smfl (6).. ” 96% | South Port S (6). 13% 18% South Pac (6). .. i 30% | Southern Ry (5) . 103 Gen Petroleum (¢ Gimbel Bros. ... Ginter (1%) Gliaden Co Gold Dust. Goodrich Goodyear pr (8) Granby Consol. . Grt North pf (5). Gt Nor Ore (1).. Grt Wstn Su (8). Greene Canan. .. Gulf Mo & Nor. . Gulf Sta 1st (7). 52% 85% | Spicer Mfg...... 103 {gpicer pf (8).... 29% 29% | Std Gas & E1(3) . 135 135 |Std GRElpf(4).. Hartman (2%).. Havana Elec (6). 5% THE EVENING STAR, AT SLOWER PACE Week Opens With Belief That Higher Money May Pre- vail for Time. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, May 25.—Trading in the bond -market went on at a much slower pace today than last week and the tone of the market was heavy and even at time reactionary. Some deal- ers were inclined to believe that higher money might be expected for a time at least, and hesitated about pur. chases at present levels. It was not predicted that the trend for the longer period would change, but only that after the remarkable strength of the pust_two weeks some reaction would not be unreasonable. Liberties Fairly Firm. United States Government bonds maintained their position fairly well, but the first mortgage rails were frac- tionally lower, instances being New York Central 5s, Atchison general 4s, Southern Pacific 48 and Central Pa- cific 4s. United States Steel sinking fund were heavy among the in. dustrials. Speculative rails were more irregular. St. Louls-San Franclsco incomes were strong, and so at one time were the New Haven bonds. Florida Western and Northern 7s were in demand around their best prices, the attraction being the title the bonds carry to common stock of the Land Company of Florida. Chicago Great Western 4s, which were so prominent Saturday, reacted today. Chicago Terre-Haute and Southeastern refund- and income bonds were both Virginia Bonds Up. The strong spot among the indus- trials was the fertilizer company’s bonds, motably _ Virginia - Carolina Chemical 7s and T!:s with warrants and Amerlcan Agricuitural Chemical Utah Power and Light os ad- vanced nearly two points. Buying in the foregin list did not appear to be affected by the hesitation elsewhere. More interest was shown in South American bonds, Argentine issues being especially firm and Bo- livia $s getting above 94 to a new high for the year. French bonds sold off as did German New offerings included $3,600,000 Minnesota Power and Light refunding 5s to vield 5.20 per cent and $4,500,- 000 National Public Service collateral 615 to yleld 6.70 per cent. i SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ~—Noon. — & Tel. 6s 19 Anaconda ‘Copper’ 8a 10 Associated Oil 6s 1935 Baltimore & Ohio 6 Bethlehen Steel & Central of Georg: Chi., Mil, & St P._8s ) s 192 ity of Lyons 8s 1983, Columb. G- & E. 1st 58 1027 58 19 s 1033 Federated Metals 7= 1930 .. Goodyear T. & R, 8s 1831 Great Northern 7a_ 1938, Pa 5% 1 .16, 3 25250555 900! SR2RSER2ES2228RES S P 555555058 " - M. St.P &S, Morris & Co 20322323228 S ATREE 03555353503 0555 B Pure Ofl 5% Swilt & Go. Tidewater "01l 818 Union Pac. B, R_C. Erign Tank Car -358282 B B i =35s3e 8! S e JEEY XA, '. West Stand Mill (5) St Ofl Calif StOINT (1)... St Ol N J pf (7 Std Plate Glass Sterling Prod(4). Stew-Warner(5). Stromberg (6) Studebaker (4).. Submarine Boat. Superior Ofl.. . Superior Steel Symington. . Symington A(2). Telautogph 2ic Tennessee Cop Texas Co (3). Texas Gulf (7) 1084 Tex & Pac C& O ! " Tex & Pacific. Tide Wat Ol (4). Timken R B(4). Tobac Prod (6) Tob Prod A (7) Transcont Ofl. Transue & W Twin City (4) . Underwood (3) Un Bag & Paper. Union Ofl (1.30) . TUnion Oil....... Un Pacific (10) .. Un Pacific pf(4). Un Tank Car(5) . Utd Alloy Steel. . Utd Cigar(13%). United Drug (§) UtdDrug 1st 3% . Utd Paperboard. Utd Ry Invest. Utd Ry Inves pf. U S Cast Iron P.. U 8 Distributing USHoft (2)..... U S Ind Alcohol. U S Ind Al pf(7). U S Realty (8).. U S Rubber..... U S Rub 18t (8). U S Smelting (3) . U S Steel (i7). U S Steel pf (7). Universal Pipe. . Univer P pf (7) Vanadium. .. Van Raalte. .. Va-Caro Chem. Va-CaroChem B. Va-Caro Ch pf. Va Ry & Power Vivadou Vivadou r1 ‘Wabash........ Wabash pf A(5) Wabash pf B. . Waldorf (1%) Ward Baking A. ‘Ward Baking B. Weber (4)..... .. Wells-Fargo. . West Pen (4) ... West Pen pf (7). West Maryland.. Western Pacific. ‘West Pac pf (). West Union (7). Westinghse (4) .. Weston Elec. Weston A (2) Wheel & L Erie.. Wheel & LE pf.. White Eagle (2). White Mot (4)... Wickwire ctfs. .. Willys-Overld. .. Willys-0d p£(7). Wwilson & Co.... Woolworth (3) Worthn Pump. .. Worthtn A (7)... Worthton B (6).. Wright Aero(1). Wrigley (13%). . YellowCab(25¢) . *04d lots. {Partly extra. {Payable in preferred stock. Dividend rates ‘as given in the above table are the annual cash payments based on the Iatest quarterly or half. less otherwise noted, extra or special dends are mot included, 3 67 59"y 44y 514 43% 1% 12% 23 16% 804 28 68% 4 21% 107% 6 126% 39% 8135 66 26% 521 39 68% 21% 108 6 126% 40 81% 66 27 52% 39% WASHINGTO. D. C/ MONDAY, MAY TRADING INBONDS | Coxev vor BONDS srocemcuancs] | 25, 1925. Recelved by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Sales are in §! 1,000.) Sales. High.' Low. 1 Lib3'zs... 69 Liblst4%s 8 Lib2d 44s. 132 Lib,2d 43, 76 Lib4thd s 299 US4s1944. 176 US4%e’ 16 FOREIGN. Sales. High. Low. .11 . 76 189 Argentine bs Argentine 6s A Argentine 6s B. Argentine 7s 9 Austria7s........ 21 Bank of Japan 6s.. 28 Belgium 6s 3y Belgium 8%;swi.. 65 Belginm 713s. 7 Belgium 8s Bolivia 8s. Bordeaux 65. Brazil 7s. .. Brazil 7 Brazil 8s. . Canada 55 1926 Canada bs 1931 . Canada 65 19, Canada 5 1 Chile 7 Chile 85 1926 Chile 85 1941 Chile §5 1946 Chinese Gov Ry Christiania 6s. Christiania 8s. Con Pow Japan Copenhagen 5 Cuba 5%s. ... Czecho 851951 Czecho 85 1952 ct. . Danish Muriic 85 A Danish Munic 8s B. Denmark 6s Denmark 8s....... D E15%s Mch '53. DEI5%s Nov'53. 12 Dutch East 1 6s°47 10 Dutch East I 6562 251 El Salvador 8548 22 French 7s French 71:s French 8s. German 7s. . Ger Gen Elec 7s Halti 6 Hungary 6 Japanese Japauese § Jergens U 3 Lyons 6s. Marseille 6s... ... Mexico 4s '04 asnt. Mexico 55 assented 6 Montevideo 7s 26 Netherlands 6s etherlands 6s* Norway 65 1943 Norway 65 1944 Norway 65 1952 Norway 8s. . Orfent Dev deb 6 Peru 8§ A Poland 6s 40 Poland 85 °50 wi Prague 115 Queensland 6s. Queensland 78 Rio de Jan 85 1946 Rio de Jan 8s 1947. Rio Gr Do Sul 8s. Suo Paulo City 8s. . Sao Paulo State 8s. S Paulo St 85 wi ine Dept cf 7s... 1! Serbs Crot Slo 8s.. 4 Soissons . . Sweden b Sweden 65....... Swiss 5128 1946 Swiss Confed 85 TOUIDBB. < - - oos5 2 Ud Kingm . 3 Ud Kingm 53837, 44 Ud Steam Copen 6s. 2 Uruguay 8s.. 3 Zurich 8s. ... 2 o .. 98 8 10 14 39 4 160 88 97 97 102% 9943 100 BT% 9419 109% 107% 94% 85% 8344 106% 088 100% 102% 104% 103% 101y 10343 109 109 474 100 110% 90% 99% 100 100% 9% 109% 110% 102% 110% 100% 100% 1024 102% 103% 931 91%e 993 1027 9 88 96% 965 1024 981 99% 86% 93% 1094 107 3% 85% 82 106% 98 100% 1024 1044 103% 101 1031 108% 109 4% 99% 110% 897 98% 994 99y 99% 109% 109% 102% 110 100% 100 102 102 108% 931, 91 9815 102% 95k 9313 MISCELLANEOUS. Ajax Rubber8s.... 1 Am Agr Chem 71:s. 47 ‘Am Chain sf 6s'33. 12 Am Repubdeb6s.. 3 Am Smit & R 1st 5s 14 AmSmit& R 68 2 AmSugrefés..... 1 AmMT&Tcltr4s.. 16 AmT&Tcltrss.. 45 AmT&Tsf5s....87 Am T & T deb 5%s. 21 AmT & Tev6s. 3 Am Water Wks bs. 17 Am Writ Paper 6s. 7 Anaconda 1st 6s... 48 Anaconda cv db 7s. 18 Andes 78 25% pd. Armour & Co 4125 Armour Del 513s. . Bell Tel Pa 5s..... Beth Steel 538 53. Beth Steel pm 5s. . Beth Steel s f 65. Calif Pete 812 6 5 cfs. Chile Copper 6s. .. { Commonwth P 6s iCon Coal Md 1st 8s. {Consumers Pow 3s. ba CanecvdS8s.. l Cuban Am Sug 8. . | Denver Gas 5s.. l Dery (DG) 7s. Det Edison ref 8s Dodge wi 65....... Du Pontde N 7%s. Dug L&P 53849, Duquesne Light 6s. Est Cuba Sug 7%3s. Empire G & F 73s. Tk Rubber 85.. .. Gdodrich 6%s. . Goodyear 8s 1931. Goodyear 83 1941. Hershey 68 1242 Humble O& R 5 Illinois Bell 1st Indiana Steel 55 Int Mer Marine 6s. Inter Paper 5547 KCP&Lt5sA’S2 Kan G & El 6s '52... Kelly-Spring 8s. Lacl G ref 58 '34. Laclede G 5 %8 '63 Liggett & Myrs bt Liggett & Myrs 7s. Lorillard (P) bs Louisv G & E 3552 Manati Sug sf 7%s. Mid-Con §%s, 40.. Midvale Steel s. Montana Pow s Mor’s & Co 15t 4%s New Eng Tel 58 N Y Eden 18t 63%s NYG EL H&P 4s. .. NYGELH&P N Y Tel4%s NY Tel 6s 41 N Y Tel 68°49. North Am Ed 6s North Am Ed 6125. Nor Ohlo T & L 6s. Nor States Pow 5s. Otis Steel 7128, Otis Steel 8s. Pacific Gas & El 5s. PacT&T Lst Pac T& T 58°'52 Pan-Amer Pete 6s.. People’s Gas 58 Phila Co ref 6s Plerce-Arrow 88 Public Service 6 Eipen s 5ls P rv Gas 5168 '64 Punta Alegre 78 Remingtn Arms 6 Rep Ir & Steel Sinciair Ol 6s. Sinclair Ofl 635 SinCOPL 6s'28 Sin Pipe Line 5. Skelly Oll 6%4s South Bell Tel §s.. 2 Southwest Bell bs.. 37 8o Por Rico 8ug 7s. 88 Stand G & Bl 6%s.. 11 Tenn Elec Pow 6s.. 48 Tide Wat Oil 6%s.. 4 Toledo Edn 1st Union Bag & P 6s United Drug 6s. . U S Rub 18t Tf bs: . U S Rubber 7%s. U S Steel s f 53 ‘Utlh Pow & Lt 58 - 16 188 41 22 59 .. 29 102 10315 984 965 9778 107% 102 102% 98 963 9715 107% 108 97% 101% 97% 4 103% 105% 29 131 97% 564 100% 101% 964 89l 87% 114% 101% 101 104% 129 103% 103% 109% 9915 108% 88% 106% 105% 9% 45. 1012 1012 101 102381 1028 1028 101 12 10110 10110 10129 101 26 10127 10219 10217 10217 10215 10212 10z 11 10618 1069 1069 45 88 97 97 102% 98% 100 87 93% 1094 107% 94% 85' 82 106% 98y 100% 102% 1044 103% 101 103% 108% 109 47% 100 110% 897 99 100 99 99% 109% 110% 102 110% 100% 100% 102% 102% 103% 93% 914 987 1024 95% 93% 9435 90 Va-Car Chem 7s 41 98% Va-Car Ch 7'38 w..141 70 ‘Warner Sug 7s'39. Warner Sug 7 West Elec bs. . ... ‘Westn Union 61;s. Westinghouse 7: Willys-Ov 6158 "33, Wilson & Co 18t 6s. Wilson & Co cv 6s. Wilson & Ccv Tis Winchester A 7155, Youngstn S& T 6s. L5 2 13 2 61 51 35 z 8 1 83 97 100% 111% 107% 101% 99% 70% 6945 101% 99% RAILROADS. Atehison adj 4s Atchison zen 4s Atlantic C Licl 4s.. Atlantic C L 7s. . Hfimp 65 ... PLEWV 45, Bklyn Manhat 6& Buff R & Pitt 4% Canada South 55 Canad North 6 Canad North 7 Canad Pac deb 4 Car Clinch & O 6s. . Centof GaGks. . Cent of Ga 65. ... Central Pacific 4s Ches & O c Thes& O gn 412 Ches & O cv bs. Chi & Alton 35 Chi & Alton 31.s. Chi& Alt 3% Chi B& Q gn 48 ChiB&Q1lstrf CB& Q-1 3%s CB& Q-Ol14div 4s CM&StPgn4 CM&StPre4) Chi & N W ref 5s. »{Chi Rys 5s Chi RI&Prf4s... ChiTH&SE3s... ChiUn Sta 4145, Chi Un Sta 58. Chi Un Sta 6%3s. Chi & W Ind cn 4s Cleve Term 5 Cuba RR 7T e Del Hud cv 55'35. . Del & Hud 5%s Den & Rio G cn 4s. D& Rlo G imp 5% D& Rio G Wst Gs.. Des M&Ft D 4s. .. Det United 413s. . Erie 1st cons 4. Erle gen 4s. Erieconv 4sA.. Erie cony 4s D Erie & Jersey 6s Erie Genesses R FlaEC5s'T4 Gr Trunk sf db 6 and Trunk Great North §s Great North § Gr North gen 7s. . G Mob&N 5138B '50 Havana ERL&P '50 Hocking Val 4 5 Hud & Man ref 5s Hud & Man aj o8 111 Central ref 4s 111 Central 513 ... 111 C-C St L&NO 55 Int Rap Tran 5s. Int Rap Tr 58 stpd. Int Rap Tran = Int Rap Tran 7s. Int& G Nor st 6; Int & G Nor aj 6s. . Iowa Cent 1st§s. .. Kan City Ft S 4s... Kansas City S 3s.. Kansas City 8 bs. . Lake Shore 45 '31. . Lehigh Valen 4s. . Louts & N uni 4s. .. Louis & Nash 7s. .. Manhat Ry cn ds... Market St Ry 7s... Mil El Ry & L 58 Mo Pacific gen 4s Mo-Pac 58 1926 Mo Pac 55 1965 Mo Pacific 6s. . N O Tex & Min5s. OTex& M5 oT&M OT&MS Y Cen gen N Y Cent cn 4s N Y Cent deb 4s NYCentri N Y Cent LScl 3 NYC&StLA NY Chi & St L New Haven cd 6s. . NY Ont W ist 4 New York Ry rf 4s NY Rys 68 '65..... N Y State Ry 43%s. NY W & Bos 414s. . Norfolk & W cv 6s. Northern Pac 3s. . . Northern Pac 4s. Northern Pac 58 D. Northern Pacr i 68 Ore Short L ref ds. Ore Sht L én 5546 Pennsyl con 4128 Pennsyl gen 4 t%s. . Pennsyl gen 5s. Pennsy] 55 '64. Pennsyl 634 Pennsyl gold Pere Marq 1st 5s Reading gen 414s. . Rio G West 1st ds. . St L IM&S 48°29. .. St L IM&S R&G 4s. " 56 2 4 StL&SF pl4sA..107 StL&SF prinss. StL&SF5%SD.. StL&SFadjés... St L&SF inc s StL&SFpl6esC.. StLSWistés.... St L'S W con 45°32 St P & KCShL 4%4s StP UnDepés. ... San A&ArnPds.. Seabd A Lref és Seab'd A L ad) 5s. . Seab'd A L con 6s Sou Paclfic 4s 29 Sou Pacific ref 4s. . Southern Ry gn 4s. Southern Ry 1st 5s. Southern Ry 6sct.. Southern Ry 6%s. . Sou Ry Mobile 4s. . Term Asso St L 4s. Third Averef 4s. .. Third Ave adj 58 Tol StL& W 4s. Union Pac 18t 4s Union Pac 48°27. Union Pac cv 6s. Virginia Ry 1st 6s. Va Ry & P 1st 5s, Wabash 2d 55 Wabash 5%8'75. .. ‘Western Md 4s. ... West Shore 1st ¢s Wheel & LEcn 4s. ‘Wisconsin Cent 4s. LIVE POULTRY HIGHER. 13 7 47 103 11 43 " 24 12 . 10 8 32 13 4 26 22 30 6 16 85% 91%% 888 107 91% 9474 905 1034 1033 100% 92% 88 1034 891, 90% 874 101% 8435 70% 81 95% 978 9% 80 1085 106% 111 87% 847% 55% 874 86% 944 99y 104 100% 98% 974 9T% 67% 85% TT% 81% 94 104 100% 97% 9Th 97 67 8458 7% 80% 88% 1074 913% 94y, 90% 103% 103% 103% 59U 99% 8% 8815 6615 | 100t | | Potatoes, E sweet potatoes, barrel, 3.0026.00: vams, | | steady, FINANC ORN PRICES SOAR ON FROST REPORTS Freak Weather Also Causes of | Upturn in Prices Wheat and Oats. By the Associated Press. CHICAGO, May 25.—More cents a bushel junfp in the price of corn took place on the Board of Trade today in hardly a single hour. Frost, that to many traders suggested calam- ity crop conditions, was chiefly re- sponsible. December corn soared to 993 cents as against 91'% to 91% cents at the close on Saturday Influenced largely by the skyward flight of corn, a rise of more than 5 bushel in wheat quickly en- tember wheat went up to 5 compared with $1.49% to on Saturday Heavy frost in various parts of the corn belt tended to make corn prices jump despite liberal receipts. An un- usual amount of replanting of corn was predicted. . Oats sympathized with corn. ing at off to 32 up, July, 457, all deliveries soon showed Start- gains. setback in the value of hogs. WHEAT— Open. h 170 September RIBS— than 8| Provisions were held down by a big | 1A |STEAMBOAT LINE 10 APPOINT HEAD |C. F. Norment Is Expected to Be Next N. & W, Exec- uiive—O0ther Notes. | BY CHAS. P. SHAEFFER A successor to Levi Woodl cently deceased head of the Norfo and Washington Steamboat Co., w in all probabilit med Thursda of this week, when the board of tie company convenes in regular sessio. reliable, though unofficial 1derstood th b . first vice president of i$ to be the man Ilhnl: association with the Woodbury, Mr. Norment is t conversant with every detail company’s functions and is successor. He is of the triumvirat responsible with Mr. Woodbury a Danel J. Callahan, second vice pres {dent and general manager of the steamboat compa for the hig standard of efficiency which the Nor folk line now maintains. Mr. Callahan, it is understood. w continue as general manager of t line in the capaci of first vice pres dent Trading on Local Board. An inauspicious stock major attention in the res {ing, firming up to 9 shares. It opened { with the majority of s: figure. Lanston wa 2%, and Mergenthaler L vp off to 179, on an odd lot sa! tional Mortgage 'm, but nchanged, at The bond list was neg! ed trad les of nged at 95 May July Septembe GRAIN AND PROVISIONS. BALTIMORE, May per 100 pound barrel, 2.5086.7 4.00. Bea, 100, 4.00a7 2.00. Kale, 100, 3.00a Cucumbers, hamper, plants, crates, bushel, 50a1.00. 3.0026.00; new potatoes, dozen, 1.50a3.00. 1.50a4.00. Lettuce, u Peas, hamper, 1.00a. 2.50. Pepper: . 1.00a3.00. Onions, crate, 3.00a3.50. Spring onions, 100, Rhubarb, 100, 0 100, 1.00a1.50. 25a35. . 3.50a8.00 Grapefruit, box, rawberries, quart, 10a20. Pineapples, crate, 2 Orang box, 6.0048.00. Peaches, crate, 1 4.00. Canteloupes, crate, 6.00a Blackberries, quart, 20a; Selling Prices at Noon. Wheat—No. 1. red Winter, spot, ex- port, no quotations; No. 2 red W ter, spot, domestic, 1.90; No Winter. garlicky, domestic, Winter, no quotations one. “orn—Cob, new. yellow, nominal, per barrel No. 2, 1.30 bushel one. spot track , 57; No. 3. 1.15a1 55 asked. No. 2 rye, spot, 1 Hay ki There is only a limited demand for hay, and this is centered on the better gr of timothy and choice light cl mixed. Prices on such stocks but low grades and inferi hay are dull and of uncertain value. Quotations today — No. 2 noth ceipts tons. 18.50a19.00; No. 3 timothy, 1 No. 1 light clover, mixed, 17.50a18.00 No. 1 clover, mixed, 17.00a17.50; No. 2 clover, mixed. 15.00a16.00. Straw—No. 1 wheat, 15.00a15.50 per ton; No. 1 oat. 15.50a16.50; No. 1 straight rye, 18.50a19.00. EVERYMAN’S INVESTMENTS BY GEORGE T. HUGHES. New Style of Annual Report. One of the advantages in stock ership as distinguished from wn- ond ceives the regular annual reports and such other statistical information as the company is in the habit of giving out. tion executives sometimes does not pay to send an 10 _stockholders because of those who receive vead them. and nual repor the inajority them do not | companies send out their reports or on the written request of the stoc holders. However that may be, if it is true that stockholders do not read these reports, part of the blame be- longs to the officials who prepare them. Many of these statements are in such form that only an expert can under- stand them. Lately, however, a new style of re- port has come into fashion, which does 4| give facts and figures in such shape that the ordinary man can comprehend them. In this movement public utili j ties have taken the lead and in this connection T want to say that a model along this line is the year book of the People’s Gas, Light & Coke Co. of Chi- cago. This utility prints its income statements and its balance sheet, two generally highly technical financial forms, with explanations that show in simple, readily understandable langu- age just what they mean. The ordinary investor has only a vague idea of what ‘“‘current assets” and “current liabilities” are, to say nothing of such items as “deferred charges” and “re- serves.” All these things are explained in the People's statement One reason why the utilities as a group take such pains with their re port arises from the wide distribution —that is, wide compared with that of the average industrial—or their stocks. A successful utility nowadays reports steady increases in the number of stockholders from year to vear and a steady decline in the average number of shares per stockholder. This sort of public ownership is helped along by such interesting and informing an. nual reports as the People's Gas and other corporations of that character are now publishing. (Copyright. 1925.) BUSINESS NOW NORMAL. NEW YORK, May 25 (Special).— Ofticials of the National City Bank de- clare that the passing of the danger of inflation a few months ago has assured normal and healthy business for the immediate future with funda- mexlwtal industries practically at nor- mal. CENTRAL'S EARNINGS OFF. NEW YORK, May 25 (#).—Surplus of $7,655.008 reported by the New York Central for its first quarter of 1925 is equal to $2.02 a share on $377,- 942,770 capital stock, compared with $8,218,098, or $2.80 a share,.on $293.- 232,235 capital stock ir. the correspond- ing quarter of 1924. e, el SoAig CHICAGO, May 25 (#).—Poultry— Alive, higher; fows, 25; broilers, 28a 42; roosters. 1414; turl 22; geese, 1B, '8, 20; ducks, LEAD PRICES ADVANCE. NEW YORK. May 25 (#)—The American Smelting & Refining Co.. to- day advanced the price of lead from 8.15 to 8.25 per pound. " | New 0a | % | the 0a17.00; | ome | New Bond Issue. An additional offering of $4 180 year, 6% per cent sinking fund co lateral trust gold bonds of series is being made toda banking ey dicate, at . and interest to vield bout 6.70 per cent. Also, a pub offering of $1,800,000 Fox Building o York, first mortgage leasehoid 62 per cent serial gold price to yield 5.97 per c per cent maturity vield deemable serially 1926 to 1945. Damage Losses Reduced. xpenditures States and Can; of loss of o r were the smallest for ar since 1917, the American Railwa: Association reported Claims p: ast vear am to §48 case of $1 or in e total paid, $28.488,128, or 54 per cent, was due to damage to frelght | While in transit, and $12,166,818 I per cent, was due to X ms a {about 16 per lcarrier g | treight while ¢ Loss and to the | total {194, or 11.8 per cent v filed in 1 Bankers Meet Tomorrow District_of Col Association will hold ing, combining dinne: at the Columbia Country row night. Only routine scheduled to be brought up. Supreme Court Ruling. Federal Reserve banks whic notes on w t. notic | ailigence in have bes waived are not requ prese: hem for collection at the bank which the maker of the notes is a d¢ positor, even though the notes we drawn to the order of that bank it was known to the reserve in { tion that the bank to whose ord notes had been drawn was in | cial difficulties, it was held by the preme Court here today in affirmin: the decision of the lower courts in *'S. Sowell of Cle ainst the reserve ban nar of that State. The court'’s ruling would appl even though the notes were drawn to the order of the bank where the { maker had funds, and regardless of | whether the Federal Reserve Bani | knew that the bank to whose order | the notes had been drawn was 80 | holdings is that the shareholder re-!gnancial straits : 102 | Waller Celebrates Birthday | W. J. Waller, vice president of t | Federal-American National | receivir felicitations today | 36th birthday PARIS MARKET UNSTEADY | PARIS, May (®).-—Prices | unsettled on the Bourse today. T per cent rentes, 44 francs, 70 cent! Exchange on London 94 francs, 9 times. Five per cent loan, 54 fran: 20 centimes. The dollar was quoted at 19 fran 533 centimes. CHICAGO LIVE STOCK MARKE! CHICAGO, May 25 (United St Department of Agriculture). Receipts, 63,000 head: moderatel ive: mostly 40 to 50 lower; kil pigs dull; few sales 75 off; bulk goo and choice 140 to 210 lb. weight, 12.0 extreme top, 12, bulk . butchers, 11.75a12.05; p 3 gely 10.50a10.90; - major: strong-welght slaughter pigs, 11.2 11.50; heavy-weight hogs, 11.75al medium, 11.80a12.25; light, 11.75al light light. 11.10a packing hogs smooth, 10.70a11.00; packing hn} rough, 10.20a10.70; ~slaughter, 10, 11.75. Cattle—Receipts. steers and yearlings steadv to | lower: mostly steady: vearlings anc better grades light-weight steers fairl active; heavies comparatively scarce slow; few choice kinds offered; bes matured steers, 11.00; some averagin; 1,415 Ibs. at that price; 1,130-Ib. aver ages, 11.50: mixed steers and heife upward to 11.25; numerous loads yea: lings, 10.00a11.00; moderate supply o lower grades below 8.75; stockers ani feeders very dull, mostly 5.50a7.00; f cows and heifers uneven, fully stead on better grades; spots strong on gou to choice light heifers; lower grade fat cows steady to weak: canners shade lower in spots: mostly 3.25a few weighty bologna bulls, 5.50a5. practical top, 5.50; vealers generall; steady at 9.0 downward to packers medium light, 8.50; few strong-weigl calves, 10.00 to packers; outsiders paying upward to 10.50. Sheep—Receipts, 14,000 head: lambs, 15 to 25 higher; spots, ) on clippers; six doubles of California springers sorted around 35 to a car 16.00; several loads handy-weight clipped lambs, 12.50a13.00; one strictly choice load, 13.50; nothing done on sheep. 18,000 head: fe ik R Banks Lose Million Yearly. Forgery and embezzlement are a countable for the loss by banks of about $200.000,000 annually, according to Edward E. Gore, an eminent ac countant. The banks are, of course {largely protected by bonding com panies, which are in turn more con cerned with getting back the money than jailing the offender. Of course, a consjderable portion of this §200,000,000 annually is returned to the banks.