Evening Star Newspaper, June 15, 1925, Page 28

28 * FINANCIAL, - THE EVENING STAR,. WASHINGTON, D. C, MONDAY, JUNE 15, NEW YORK 5700k EXCHANGE || SELUNGISNOTE) | Loz BONDS momme] Received by Private Wire Direct to The Star Office Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Bales are in $1,000.) 1925. FINANCIAL. DOWNWARD SWING 'W.R. & E. DIVIDEND Low. Close. Low. Closs. Open. High. Sales. High. Low. C United Drug 8s. ; i TN W R A WA AT 3 A AT AR MG A A AVAYE) IBEARS RAIDLIST | | N LATE TRADIG Claim That Market Has Gone Up Toe Fast Brings Confused Moves. BY STUART P. W] Special Dispatch to The Star. NEW YORK, June 15.—Further advances occurred today in parts of the industrial list, while active profit- taking was going on in other direc tlons. A sharp break in Pan-Ameri- can, on the Mexican news, put a stop to the campaign In oil shares and brought about realizing sales in this group in large quantity. At the Pan-American stockholders’ meeting’ the information given out was altogether reassuring. The chair- man stated that assets had increased 000,000 during the last year, out which $2,000,000 was spent in the Fast and South in expanding distrib- ating facilities. Sales for the first quarter, it was officially stated, were twice those in the same period of 1924. Reaction in U. S. Steel. United_ States Steel common got hove 117 early, but subsequently re- cted. The same was true of the in- dependent steels. Bethlehem Steel was freely supplied around its recent nigh of 393, and Republic Iron & Steel around 46. Sloss Sheffield at 86% was the equivalent of 87%, tak- ing into account the dividend, which came off the price last week. New high records for the year were made in United Statest Rubber, Fa- mous Players preferred, Associated Oil, General Electric special, Kayser, which was up nearly 2 points; Kelly Springfield 6 per cent and 8 per cent, Remington Typewriter, United Drug first preferred, Tobacco Products A, reeport Texas, which was very act- e on large transactions; MeCrory Stores preferred, the new Bush Ter- minal, which gained over 2 points, and Ward Baking B, which was one of the big features of the market throughout. Railroad Shares Weak. Railway shares did not do well at 21l Some short covering carried Chi- cago and Northwestern up to 56 as against 5414 at the close Saturday, but this was an exception. There was ac- tive selling of Canadian Pacific and : Union Pacific, and it took very little to put Reading down 2 points. Other % rails were inclined to drag. The stocks which benefited most by the President’s announcement that there would ve no reductfon in sugar tariff schedules were naturally those of one of the home beet sugar com- panies. American Beet Sugar at one time was up over 2 points. Great Western Sugar having had already such a large advance, was not simi- larly affected. It came down in the )} fternoon. Famous Players declined sharply when it became known that the com- pany had prepared an offering of new stock to be sold below par. This offer- g will be made on Wednesday by the banking fnterests which handle the “amous Players’ business. CLOSE IS IRREGULAR. New Shares Brought to Front in Final Transactions. NEW YORK, June 15 (#).—Selling for both accgunts impeded the upward .novement_of prices in today's stock market. Bear traders, acting on the theory that many issues had been overbought in the recent advance, put out new short lines and succeeded in forcing reactions of 1 to 3 points in many issues, but operators for the rise continued in a selected list of food, rubber, silk and public utility shares. Total sales approximated 1,200,000 share: The closing was irregular. Specialty movements characterized the late trad- ing, with paper and utility stocks, Pierce Arrow and United States In: iustrial Alcohol in the forefront of <he upward movement. Markets at a Glance NEW YORK—Stocks Ward Baking B soars Bonds mixed; Mexican i “oreigr exchang iira low Cotton firm; unfavorable Texas weather, ar easy; Cuban buying. Coffee higher; firmer Bra- 2ilian markets CHICAGO—Wheat lower: disap- vointing foreign buying. Corn weak; bearish crop outlook. Cattie dull small shipping demand. Hogs higher. RUBBER CRISIS FAR OFF. Official Doclares Present Situation Is Temporary. NEW YORK, June 15 ().—Motor transportation is drawing heavily on the output of rubber manufacturers, but the energetic demand is not re stricted to transportation. It is gen- eral and is the heaviest in years, W. 0. Rutherford, president of the Rub- ber Association of America and vice president of the B. F. Goodrich Co., said here on his departure for Eu- rope. The crude rubber situation was the only cloud on the Industry's horizon, he said, but it would be dis- pelled before long. ““The present price of crude is caus- ing_concern, but the real crisis in rubber will be two or three years hence,” he added. “Today it is only tempora: irregular; 7% points. ues decline. francs and R I FIRST GOLD SHIPMENT TO ITALY SINCE WAR NEW YORK, June 15 (#).—The outward flow of gold from the United States was resumed today with the export of $1,050,000 to Italy in the first shipment to that country from New York since the war. Officials of the Equitable Eastern Banking Corporation, which shipped the gold, said that the transfer repre- sented a commercial transaction and had no connection with the $50,000,000 credit recently established by J. P. Morgan & Co. for the protection of Italian exchange. SHORT-TERM- SECURITIES. (Quotations furnished by Redmond & Co.) ——Noon.—— Bid. Adirond. P. & L. C. 8s 1 2 5 Amer. Tel. & Tel. 68 1 Anaconda Copper 6s 1928. 3 z S o5eRsos! Central of Georgi; Chi., Mil. & St. P* 0s 1! Chi. K. L & Pac. 5338 1026, City of Lyons 6s 1034 . . Colum. G. & E. 1st bs 192 Continental G. & E“ 58 1! Abitibl Pow (4). Ahumada (11).. Alr Reduc (4). Ajax Rubber. Alaska Junea Allied Chem (4) . Allis Chalm (6). :m AgriculChm. 13 1 . 88 34 187% 188% 121% 121% 104% 104% Am Chicle. ... Am Chiclerts. .. Am Drug (60c). . Am Express (6) . Am & For Pow. . Am & F P pf (1). Am Hide & Lea Am Hide & I pt Am Ice (7). Am Internatl Am La Fran (1). Am Linsd pf 3% Am Loco (118).. Am Metal (3). Am Safety R (3 Am Ship & Com. Am S & Ref (6).. Am S & R pf (7). Am Stl Fdys (3). Am Sugar....... Am Sugar pf (7). Am Sumatra. ... Am Tel&Tel (9). Am Tobaceo (7). Am Toba B (7). Am Tobac pf () Am Typ Fdrs(8) Am WW&EI 1.20. A WW&EI pf (6 Am W W 1st (T Am Woolen Am Wool pf Am Writ Pap pf. Anaconda (3) Ann Arbor. Ann Arbor pf ... Archer-Dantels Armour Del (7). Armour Il A(2). Art Metal (1)... Asso'Dry G(23) As50 D G 1s(6). Asso Ol (2) . Atchison (7). Atchison pf (5) At Birm & At. .. Atlantic C L(18) AtIGult& WI. Atl Gulf & WI Atlantic Refing Austin-Nichols | Austin Niept(7). Baldwin L (7). Bald Loco pf(7). Balto & Ohio(5). Bal & Oh pf (4). Bk of Com(116). Barnsdall A Bayuk Cigar. Beech Nut(2.40) . Bethlehem Stl. .. Briggs MIg(3%) Bkl Edison (8).. Bkl-Man Tran. Bk-Man T pf(6). Bkl Union G(4).. Brown Shoe (4). Brown Sh pf (7). Brunswick (3.60) Bur Add Ma (3). Bush Terminal. . Bush Ter de (7). Butte Cop (50¢) . Butte & Sup (1). 12% 124 CaddoCentral... % " Cal Packing (6) 114 114% Cal Pete (1% 80% 30% Calif Pet rts. 1% 1% Calif Pet pf (7).. 121% 121% Callahan Zinc... 38 3 47T% 48% 139% 139% Calu & Ariz $2.50 Can Pacific (10) Cent Jeather.... 18% 18% Cent Leather pf. 60% 61% CRRNJ (112). 294% 294% 35% 387 .50% 50% 118% 118% 46% 46% 54 55 8% 8% 102 102% 109% 110% 381 88% 64 641 96% 96% 8% 8% 116% 116% 66% 66 106% 107 404 119% 119% 96% 96% 4% 4k 161% 161% 504 50% 48% 484 116 116% 28% 24 90 0 113 113% 110% 110% 40% 41% 135 135 504 50% 81% 81% 89% 90% 92% 92% 106% 106% 26% 26% 1% 1% 17% 19% Century Rib (2). Cero d Pasco (4). Certain-Teed(4). Chandler (3).... Ches & Ohio (4. Chi & Alton. . . Chi & Alton pt. Chi & East 111 Chi & East 111 pf. 8 8 33% 83% 44% 45% 11% 11%- 24% 24% Chi Mil & StP... Chi Mil& StP pf. Chi& Nwn (4)... Chi RI& Pac... CRI&P DI (6). CRI&P pf (7). C StPM&OPL (5) . Childs (12.40). Chile Cop (2%).. Chino Copper. Coca-Cola (7) . Coca-Cola pf (7). Col Fuel & Iron Colo Southern. ... Colo Sou 1st (4). Col G & E (2.50). Com 1nv (2.50) . . Congolium (3). .. Consol Clgar. Consol Distribut. Consol Gas (5) Consol Textile. .. Cont Can (4) . Cont Insur (6) . Cont Mot (80c) Corn Prod (2). Crucible Stl (4). Cuban Cane Su.. Cub Cane Su pf.. Cub Am Sug (3). Cuban Domin Cuban Dom pf... . Cudahay Pkg (7) Cushmans (2)... Cuyamel Fr (4). Davison Chem. .. Del & Hud (9)... Del L & Wn({7). D& RG Wstpf. Detroit Ed (8)... Dodge Bros (A). Dodge Bros pf... Dome Mines (2). Doug Pectin (1). Dul SS & Atl pf. Dupont (10).... Duquesne pt (7). Eastman (18)... Eaton Axle (2) Elec Power ctfs. Elec Powr pf (7) El P&Lt 40% pd. Bl P&Lt full pd. Flec Str Bat (4). End-John (5) Erie RR. Erfe 18t pf. Famous Pl (8).. Famous pf (8) Federal Lt (*7).. Fed Min pf (7) Fisher Body (5). Fisk Rubber. Fisk 1st pf (4)... Fleischmann(4). Foundation (8).. Frank-Si pf (7). Freeport-Texas. Gardner Motor. . Gen Am Tnk (3). Gen Asphalt. ... Gen Asph pf (5). Gen Baking (6) .. Gen Clgar (8) . Gen Electric(8). Gen El spec 60c. . Gen Motors (8) .. Gen Mot pf (7).. Gen Petrm (2). . Gen Ry Sig (17). Ginter (13%) Glidden Co Go'd Dust. Goodrich. ..... Goodyear pf (7). Goodyear pr (8) Granby Consol. . 20% 20% 119% 120% 101 101 38% 64% 64% 116% 116% 10% 10 71 11% ¢ 101% Hudson Mot (3). Hupp Mot (1)... Indep Of1 (1). 64% 18% % |Ina Ot rights. ... Indian Motorey Indian Refining. 1Ind Ref pf (7) :h(erznl R(8).. Internat Agri. .. Int Bus Mac (8). Intl Bus Marts. . Int Cement (£).. | Int Com Eng (2). Internat Har(5). Inter Har pf (7). Int Mer Marine. . Int Mer Mar pf.. Int Nickel : 117% 8% 35% 30% 69% 79 148 114% 15% 42% Int Shoe (b) Int Tel & Te! Jones Bros Te: Jordan Mot (3).. Kansas & Gulf. . KCP & L 18t (7). Kan City South.. Kayser (Jullus). Kelly-Sprin, Kelly-Spring 1st. Kelly-Spring pt. Kelsey Whi (6) Kennecott (3) Keystone T &R. Laclede Gas (8). Lee Tire & Rub. . Lehigh Val(3%). Liggett & M(14). Lig & My B(14). Loews Inc (2) Loft % 103% 32% 32% 18% Long Bell A (4). Loose--Wile: Lorillard (3). Loulsiana Ofl. .. Louis & Nsh(6) . Ludlum (2) McCrory pf (7).. Mackay (7)..... Mack Trcks (6) . Macy HR & Co. . Magma C (75¢). . Man Shirt (1%). Mallison & Co. .. Mallison pf (7). Man El Sup (4).. Man Emdg (5). Mantila El (2%) Maracaibo O11 Market St prior. . Marland O(75¢). Malin-Rock (1).. Martin-Pry (4).. Mathleson Adka. Maxwell(A)ctfs. 113% Maxwell(B)ctfs. 119% May Dept St(5). 112 Motro Ed pf (7). 104% Metro Gpf(1.89). 20% Mexican Seabd.. 15% Mtami Cop (1).. Mid-Continent. . Mid-Cont pf (7). Middle States. . . Midind Pr pf(8). Min St P & SSM Mis Kan & Tex. MK&Tpt(5). Missour! Pacific. Missour Pac,pf. Mont Power (4). Montgom Ward.. Moon Mot (3)... Mother Lode 75c. Motor Whi 1.60. . at Acme (sta). Nat Biscult (3) Nat Dairy (3) 49% 45 214 ™ 113% = 33% 82% Nat Distlllers pf,- Nat Enamel & S. at Lead (8) . t Supply (3).. Y Afr Br (4).. N Y Canners(2). N Y Central (7). NY C&StL(6).. C&StLpf(8). N Y Dock pf (5). Y NH& Hart. . Rys part cfs. orfolk South. orf & West(7). North Pac (5)... Onyx Hos pf (7). Otis Elevat (6) Otis Steel. . Otis Steel pf. ... Owens Bot (3) . Pacific Coast. Pac Coast 2d pf Pacific Gas (8).. Panific Mail Pacific Of1 (3) . Packard (11.70). Paige Mot(1.20). Pan-Amer (6). .~ Pan-Amer B (6). Panhandle. Panhandle pf . Park & Tilford. . Pennsy RR (3).. Penn Seab Steel. Peoples Gas (8). Pere Marq (4)... PhlaCo (4)..... Phila& RC&I.. Phillips Pet (2). Plerce Arrow.... Plerce Arrow pf. Plerce-A prior 8. Pitts Coal. . Pitts Coal pf(6). *PittsFtWay (7). Pitts Ut pf $1.20. Pitts & West Va. Postum Cer (4).. Press Steel Car.. Prod & Refiners. Pub Ser NJ (5).. Pub S Gas pt(6). Pullman Co (8).. Punta AlSu (5). 40% Pure Ofl (1%) 31% Radio Corp of AN 53% Ry St! Spg (8)... 127 Ry St Sp pt (7).. 118 Ray Cons Cop 12% Reading (4) . 8714 Reading 2d (2).. 42% Robert Rels..... 22 Remington Type. 76% Replogle Steel... 13% Rep Ir & Steel. Reynolds Sp (1). Rey Tob B (3)... Rey Tob pf (7) Rossia Ins (6) Rossia rts. Royal D (4. St Joseph Ld(2). StL&SanF(6). StL San F p£(6). St L Southwest. Schulte (*8) . Schulte pf (8).. Seaboard Air L Seabd Alr L pf. Seagrave (1.20 Sears-Roebk (6). 168 Shattuck-Ariz... 64 Shattuck FG(2). 654 Shell Un (1.40).. 25 Shell Un pf (6).. 101% Stmmons Co (2). 41% Stmmons pf (7).. 108 Simms Pet (1)... 24% Sinclair Ofl Sinclalr pf (8 Skelly Oil. Sloss-Sheft (6).. 86% South Port § (6). 72 South Pac (6)... 100 Southern Ry (5). 46 10% 76 47% 81 83 . South Ry pf (5). Open. High. % 4 125 62! 17 121% 121% 1% 1% 68 67% 44% 43% 109 108% 117% 117% 8% 8% 34% 116 118% 16% 16% 42% 42% %o % 108% 108% 32% 165 150 T9% 344 10810 1223 179% 177 87 87 41 39% 26% 26% 29 27 91l 914 108 113% 113% 119% 116% uz 1 105 104% 20% 20% 24% 24% % T 674 674 55 554 42% 424 98% 984 36% /354 663" 66% 2T% 2Th 148% 148 64 63 12% 12% 65% 66% 45% 454 45% 43% 116% 115% 123 128 1% 91% 27% 26% 67% 674 32% 31% 10% 10% 36% 34 127% 1264 46% 4615 49% 49% 64% 64 82 82 116% 114 14% 18% 74% 3% 48% 48% 25 25 42% 42% 116% 116% 1% 1204 118% 56 55% 41% 41 46% 45% 24 22% 7 14% 141% 141% 14% 14w 70% T0% 117% 115% 50 48 31% 30% 54% 53% 127 126% 118% 118 101% 101% 41% 41% 103 24% 22% 92% 64 18 37 % 17 10 5 | With domestic securities. INMEXICAN BONDS Losses Fractional—Railroad Liens Firm—U. S. Liens Exhibit Strength. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 15.—Trading in bonds proceeded today at a more mod- erate pace, with interest to a great degree attracted to the foreign list. Here prices were firm, with the one exception of the Mexicans, which were unfavorably affected by the published statements by Secrédtary Kellogg and the reply of the Mexican government. The buying of foreign bonds went on the basis of the high yleld compared Special fa- vor was shown the Japanese 6%s, selling of at the high of the year and nearly 5 points above the low. Out- side of Liberties and Pan-American Pe- troleum 6s, the Japanese 6%s were the most active issue on the entire list last week. Belgian 7s Hold Premium. Among European bonds the new Belgian 7s held their premfum over the " offering price. Czechoslovak 8s 80ld above par again. The German 7s dragged, influenced by the reports of the financlal crisis in Berlin. Argen- tine 5s were up a point and a half, and the short:iterm Argentine 7s were strong. Chicago, Terre Haute and South- eastern issues were {f demand among the rails, the inconmte bonds selling above 82 and the refunding bonds above 89. The former at the present market give an annual income return of over § per cent and are guaranteed under the lease by the St. Paul, it was pointed out today that the guarantee of the reorganized St. Paul will be much stronger with that under the present capitalization. Transit 6s Gain, Brooklyn-Manhattan Transit 6s con- tinued a slow but impressive advance to another new high point. The weak point was the Pan-American Petro- leum 6s, which went down nearly 2 points in sympathy with the stock. Sinclair Oil 6s were also lower. Among the sugars there was a small gain in Eastern Cuba Sugar 73%s. High-grade investment issues were barely steady, and in some of the United States Government bonds there were signs of reaction, but not im- portant. In their issues Illinois Cen- tral joint 6s sold above par. New offerings included $5,000,000 Commercial Credit of Baltimore 5% per cent notes, to yield 5.90 per cent, and $2,400,000 Loew's new Broad Properties first mortgage 6s at par. COAL HANDLING PLAN EXPECTED TO SPREAD NEW YORK, June 15 (P).—The movement to combine amthracite pro- ducing and selling agencies, inaugu rated by the Glen Alden Coal Co.'s proposal to absorb the Delaware, Lackawanna and Western Coal Co., is expected to spread to other large organizations in the industry. The Lehigh Valley Coal Co., it is under- stood, will carry out a similar_move by taking over the Lehigh Valley Coal Sales Co. —_— FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.\ Nominal Selllng checks Fold value. mfii $4.8665 $4.85 o i Forelgn exchanges irregular. Quotations, in cents: Great Britain, 485%; cables, 4861%; 60-day bills on banks, 481%. France, demand, 4.82; cables, 4.821;. Italy, demand, 3.8 2 Demand: _Belglum, 4.74; 23.81; Holland, 40.13; Norway, . Sweden, 26. Denmark, 18.92; Swit- zerland, 19.41; Spain, 14.58; Greece, 1.68; Poland, 19%; Czechoslovakia, 2.96; Jugoslavia, 1.73%; Austria, 143; Rumania, 46%: Argentina, 40.00; Brazil, 10.90; Toklo, 40%; Shanghal, 77%; Montreal, 100. Symington. Telautogph 26c. Tennessee Cop. - Texas Co (3).... Tex Gulf S (%) Tex & PacC&O. Tex & Pacific. ... Tide Wat O11(4) . Timken R B(14). Tobac Prod (6).. Tob Prod A (7).. Transcont Oil Transue & W ( derwood (3).. Un Bag & Paper. Union O1l (1.30). Union Ol (1.80) . Un Pacific (10).. Un Pacific p£(4). Utd Alloy Steel. . Utd Clgar(13%) . United Drug (6) . UtdDrug 18t 3%. Utd Fruit (10). U S Cast Iron P U S Distributin, U S Hoff (2)..... S Ind Alcohol. Realty (8)... Rubber..... Rub 1st (8).. 16% 12% 11% 53% Universal Pipe. . Vanadium. . ! Van Raalte. “ Va-Caro Chem. . Va-CaroChem B. Va-Caro Ch pf. Va Ry & Power Vivadou Wabash......... Wabash pf A (). Waldorf (1%). ‘Warren Co (4).. ‘West Pen pf (7). W PaPow pf(7). West Maryland. . West Md 2d pf... ‘Westn Pac (5a) .. ‘Wesn Pac pf(6a) ‘West Union (7).. ‘West Alr Br (6). Westinghse (4).. ‘Weston Elec. ... ‘Weston A (2) ‘Wheel & L Erle. . Wheel & L E pf.. ‘White Eagle (2 ‘White Mot (4)... Wickwire Spen Wickwire ctfs... .| Armour Del 5%s. . 1| Empire G & F 7% Sales. Lib3%s... 198 10 Lib1st4%s 21 Lib2d 4% 8 Lib 34 43 1021 igh. Low. 6 1013 1018 102 24 102 20 102 21 101 15 10113 10113 101 81 101 31 Ciose. 102 31 102 28 102 29 10312 1034 1039 US4Y%s FOREIGN. Argentine5s. ... Argentine 6s wi. .. Argentine 6s A Argentine 6s B. Argentine 7 Austria7s Bank of Ji Belgium 6s. . [ Belglum 6%s w1.. Belgium 78 w 4 Canada 6s 1931 Canada 58 1962. ... 1 Canada 535 1929.. Chile 7s 1943 . Christiania 8s Con Pow Japa! . Copenhagen 5%s. . Cuba 5%s. .. : Czecho 85 1951 Czecho 8s 1952 ct.. Danish Munic 8s A. Danish Munic 8s B. Denmark 6s. Denmark 8s. DEI5%s M DE 15%s Nov '53. Dutch East I 6547 Dutch East I 68 '62. El Salvador 85 '48 Finland s f 65°45. . Finlands 7s Framerican 7% s French 7s. French 7%s. 41 21 2 Hungary 6% Japanese 634 g Jergens U M 65 '47. Marsetlle 6s. Mexlco 4s'04 3 Mexico 45 '10 asntd Mexico 55 assented Montevideo = Netherlands 3 Netherlands 6s '72. Norway 5%s wi. Norway 6s 1943 Norway 6s 1944. Norway 6s 1952. Norway 85 : Orfent Dev deb 6s. Paris-Ly’s-Med 6s. Paris-Ly’s-Med 7s. Poland 6s "40 . Poland 8s°50 wi. .. Porto Alegre 8s Prague 7%s. Queensland 6s Queensland 7s . Rio de Jan 8s 1947 . Rio Gr Do Sul 8s. .. Sao Paulo City 8s. . Sao Paulo State 8s St of S Paulo rts Seine Dept cf 7s. .. Serbs Crot Slo 8s. . 6 10716 1078 1078 . Close. 102% 1024 114% 114% Ud Kingm 5%s'29. 17 Ud Kingm 5%s'37. Uruguay 8s. 2 Zurich 8s. Ajax Rubber 8s. Am Agr Chem 7%s Am Chain sf 63'33. 15 Am Cotton O1l 5s. . Am Repubdeb6s.. 1 AmSmit& R 1st5s 6 Am Bug ref 65 o AmT&Tcltr 4 AmT&Tcltrbs.. AmT&Tsf5s... Am T & T deb 5% Am T & Tcv 6s. Am Water Wks6s. Am Writ Paper 63 Anaconda 1st 68 Anaconda cv db Andes 7825% pd. . Armour & Co 4}4s. = % Associated Ol 6 Atlantic Refin §s Barnesdall s Bell Tel Fa bt Beth Steel pm 53. Beth Steel rf 58 Beth Steel 5% Beth Steel s { 6 Bklyn Ed gen 5s Brooklyn Union 5s. Bush T Bldg 58°60. Calif Pete 6%43. Cen Leth 65 "4 cf: Chile Copper 6s. Commonwth P 6s. Con Coal Md 1st & Con G NY 5%s wi.. Consumers Pow 5s. Cuba Cane cv d Cuban Am Sug 8s Denver Gas 68 T -0 P Tt =P 1 -1 T - o o5 ~BemSafinaSed Du Pontde N 7i4s. Duquesne Light 6s Est Cuba Sug 7%3s. -t Francis Sug 7%s. . Gen Refractres 3. Goodrich 6%s. . Goodyear 8s 1921. Goodyear 88 1941... Humble O & R G 3%s Tilinois Bell 1st b Illinofs Steel 4%s Int Mer Marine 68 Inter Paper 58’47 Inter Paper 68 KCP&Lt5sA’S2 Kan G & E1 68'62.. Kelly-Spring 8s. .. Keystone Tele 55. . Lackawa § 65 '50. Lacl G ref 58" Laclede G 5%s '53. Liggett & Myrs 5s. Louisv G & E 5562 Manat! Sug s 7%s Mid-Con 6%s,40. . Midvale Steel 55. Montana Pow 5s. & o e N PRI UL S =g N Y Tel 4%8. 41 North Am Ed North Am Ed 6 Nor Ohio T & L % | Nor States Pow b Nor States Pow 6s. Otis Steel 7% Pacific Gas & PacT & T 15t 58 Pac T & T 58°62 Pan-Amer Pete Pan-Amer Pete People’s Gas5s.... 1 PhilaCoref 6sA.. 20 Phila& RAC&16s 12 Plerce-Arrow 8! 1 . Producers & Rf 8i Producers & R8sw 1 Public Service 8s.. 25 P ServGasb5%s’s9 3 P ServGas 5%s°64 87 2 101% 101% 6 102% 1024 17 106% 106% 109% 1094 1 109% 109% EOU 109% 109% 101% 102% 981 U 8 Rub 1st rf 5 U S Rubber 7%; 62 8Ym 2 106% 106% Willys-Ov 63%s '33. Wilsen & Co 1st 6s. Wilson & C cv 73%s. Winchester A 7%s. Youngstn S& T 6s RAILROADS, Ann Arbor 4s. Atchison adj 4s Atchison gen 48 Atlantic C L 1st 4 Buff R & Pitt 4%s. Canad North 6%s Canad North 7s Chnad Pac deb 45 Car Clinch & O 58 Car Clinch & O 6s Cent of Ga 68s. . Central Pacific 48 Ches & O cv 4%s. .. Ches & O gn 4% Ches & O cv 5s. Chi & Alton 3% Chi B & Qgn 43 '58. ChiB & Q 1st rf 5s. CB&Q-IIl3%s. Chi&EIgnb Chi Great West Q B2 [ L] P L] 2 w a - an 2 ! - @ 10000000 RRERRRZ g , ZppprrrRe » CCC&StL5s CCC&StLrf6sA. Clev Term 5s. . Colo & Sou 4%s Cuba R R 5s. Del & Ha 1st rf 4 Del & Hud 5%s D & Rio G fmp s D & Rio G Wst bs. . Erle gen 4s. . Erfe & Jersey b FlaEC58'T4...... Gr Trunk sf db 6s.. Great North bs. Great North 5%s Gr North gen 7s. G Mob&N 513sB '50 Havana ERL&P '50 Hud & Man ref 5h. . Hud & Man a 5; 111 Cent ref s 'l 111 C-C St L&NO Int Rap Tran §s. Int Rap Tr 58 stpd. Int Rap Tran 7s. Int & G Nor 1st 6s. Int & G Nor aj 6s.. lIowa Cent rf 4s Kansas City S 3s Kansas City S 53 Kan City Term 4s.. Lake Shore 4s '28. . Lake Shore 45 ‘3 . Lehigh Valcn 4s. . Lehigh Val 5s 2003 Louts & Nash 5%s. Manhat Ry cn 4s... Man Ry 2d 45 2013. Market St Ry 7s. .. Ml El Ry & L 6s... M&StListrf4s.. M StP & SSM 6%s. MK &T 1st 4s MK&T4sB 3 MK&Tadj6s.... MK&TprinssA. Mo-Pac 53 1926 Mo Pactfic 6s Mo Pac 68 cfs. Montrl Tm 1st Nassau E Ry 4s'57 N O Tex & M in 5s. NOTex&M5sB.. N Y Cen gen 3%s. . N Y Centcn 4s'98. N Y Cent deb 4 NYCentribs N Y Cent deb 6s. NYC&StLdb4s. NY Chi & St L 5%s NYC&StL6sA.. New Havencd 6s. . NY Ont W 1st 4s NY Rys 6865..... N Y State Ry 4%s. NY W & Bos 4%s.. Norfolk & W cn 4s. Norfolk & W cv 6s. rthern Pac 3s Northern Pac 4s. .. Northern Pac r 1 6s Ore & Calif 1st 5s. . s, | Ore Short Liref 4s. 100 %100% 98% 98 100% 9745 92 99% 101 1% | Sou Ry Mobile ¢s.. Ore-Wash 1st rf 4s. Pennsyl gen 4%s. . Pennsyl gen 5s. ... Pennsyl 58 "64. Pennsyl 6%s Pennsyl gold 7 Peoria & E inc 4s.. Pere Marq 1st 5s. .. 1 Por RL &P 6547 Reading gen 4s. Reading gen 4%s.. StL S W con 4s°32. St P & KCBhL 4%s Seab'd A L dssta.. % | Seab d A Litef 4s.. Seab’d A L adj 5 Seab’d A L con 6s. . ! Sou Pacific 48 "29.. Sou Pacific clt 4s. . Sou Pacific ref 4s. .1 Southern Ry gn 4 Southern Ry 1st 5s. 15 Southern Ry ésct.. 17 Southern Ry 6%s. . li Term Asso St L 4s. Third Ave adj b Unlon Pac 1st 4: v | Union Pac 1st rf Union Pad 4s'27. Union Pac cv 6s. Virginia Ry ‘Western Pacific 5: ‘West Shore 1st 4s Whel & LErf 433 Wigconsin Cent 4s. — o 103% 102% 9 8 106% 105% 974 96 £6le 100% 116% 106% 101% SOUTHERN ORDERS RAILS. ATLANTA, June 15 (Special)—The N WHEAT VALLES Weather| More Favorable Over Belt Cause of Heavy Selling Today. By the Associated Press. r ! CHICAGO, June 15.—Reports of more favorable weather over the do- mestic wheat belt tended to give a downward swing to wheat values here today, and the market broke sharly during the early dealings. There was some scattered seiling on the Initial declines, which found support lack-| ing, and the drop was easily attained. Opening quotations were ranged from 7% to 2% lower, with July 1.57% to 1.58 and Septenfber, 1.52% to followed by an additional July touching 1.56 and Septem- , 1.51%. Corn and oats followed the trend of wheat, there being some scattered selling of corn by commission houses | ‘while the buying was not impressive. Starting at 1 to 2% off, with Septem ber 113 to 1.18%, the corn market continued downgrade. Oats started % to 1% down, with September 52 to 521, and later de- clined a little more. Provisions were lower in line with the decline in grain. Open pen 2o P September | December . CORN— nin D bl '3 September December RYE— Dl o September December . hoo ¥ xpicy October. DAIRY PRODUCTS. BALTIMORE, June 15 (Special).— Live poultry—Spring chickens, pound, 36a50; Leghorn: 30a40; old hens, 23a 28; Leghorns, 23a24; old roosters, 16 ducks, 14a20; voung ducks, 28a30; pigeons, pair, 20a30. Eggs—Receipts, 1,244 cases; native and nearby firsts, dozen, offered at 29; bid 2815, Butter—Good to fancy creamery; pound, 40a45; prints, 45a47; ladles, 32a 33; store packed, 29a30; dairy prints, 30a32; rolls, 30a32; process butter, 35. CHICAGO LIVE STOCK MARKET CHICAGO, June 15 (United States Department of Agriculture).—Hogs— Receipts, 43,000 head: mostly 10 to 20 higher; underweight, 25 up; pack- ing sows show 25 to 35 advance; bulk g0od and choice 225 to 340 pound butchers, 12.45a12.75; top, 12.80; bulk 160 to 210 pound weight, 12.20a12.60; 140 to 150 pound averages, mostly 11.75a12.10; bulk packing sows, 11.45 al1.80; strong welght slaughter pigs, largely 11.25a11.60; heavy weight hogs, 12.35a12.80; medium, 12.30a12.75; light, 11.70a12.65; light lights, 11.00a 12.40; packing hogs, smooth, 11.60a 00; packing sows, rough. 11.30a 11.60; slaughter pigs, 10.50a11.75 Cattle—Receipts, 13,000 head; fed steers trade, spotty, slow; shippers’ hand picking, good to cholce Kkin all weights, at steady prices mostl: spots str ; shipping demand nar- row, undertone steady to weak; nu- merous bids look lower; receipts gen- erally smallest for Monday so far this year; early top matured steers, 11.25; few loads, 10.76a11.00; best yearlings, 11.50; medium weight steers from Mis- sourl feed lots, upward to 11.35; Grassy cows and heifers dull; grain feds about steady, slow; strong-weight canners, 3.00; light kind, around 3.75; better action in full; best bolognas. 5.00a5.25, with few at 5.40 and better; vealers steady, mostly 8.50 downward to packers; little change of stockers and feeders. Sheep—Receipts, 10,000 head; killing classes generally steady: bulk desira- ble native lambs, 15.50a15.75; sorting light 7 cars Idahos, 16.00; best year- lings held at 14.00; odd lots of fat oves 5.50a6.50; heavies downward to 4.00. CHEAP MONEY RATES ARE HELD UNPRECEDENTED NEW YORK, June 15 (#.—The long continued cheapness of money rates in face of the heavy European demand and for domestic financing is considered unprecedented in Wall street. 3 Various factors have been ad- vanced, which, it is sald, normally should result in a higher level, but many bankers see a continuance of easy accommodations. The fact that Government credit is pnow back to virtually pre-war basis has strength- ened the general belief that no very great change is likely in the near future. Eoc TRAIN 23 YEARS OLD. Twentieth Century Limited Has Made Notable Record. With the departure today of its several sections from New York and Chicago, west and east bound, the New York Central's “Twentieth Cen- tury Limited” observed its twenty- third birthday and entered into its twenty-fourth year of service. The first trips were made on June 15, 1902. Statistics show that this train has carried over 11,000,000 pas- sengers, or & number approximately one-tenth the entire population of the United States, and which would rep- resent the entire total population of New York, Chicago, Philadelphia, Cleveland, St. Louis, Boston and Buffalo. - Considered as one. train, the “Cen- tury” has made a total of 16,790 trips in these 23 years and has covered a distance equivalent to ’ 16,118,400 miles. FOOD EXPORTS DROP. BALTIMORE, June 15 (Special Exports of foodstuffs through the port of Baltimore all showed big decreases as compared with the previous week, 10 BE DISCUSSED Directors Will Meet in Spe- cial Session Wednesday and Urge Common Payment. BY CHAS. P. SHAEFFER. Directors of the Washington Rail way and Electric Co. will hold a spe cial meeting on Wednesday afternoon of this week at 3 o'clock for the purpose of giving consideration to o cash dividend on the common shares of the company Rumors of back dividends on the * common shares have literally filled the local financial atmosphere since the carrler was awarded half the {m. poundage, or about $3,000,000, iy months ago, but officials of the com- pany today, for the first time. ad- mitted Wednesday's meeting was for this all-absorbing purpose Amount of the dividend, if ap. proved, would be pure and simple £uesswork to those not on the inside and no indication of its to-be. recom- mended size can be gained from re icent officials and directors. It a matter of public record, however. that 263 per cent accumulated from 1919 to 1923, lean y. s, when no dis. bursement ‘was made on common shares. This sum still remains due to common shareholders, although the fssue resumed dividends at the rate of 5 per cent per annum in the Summer of 1923. A new high record for all time on the common stock was established the latter part of last week when shares sold at 124%. This figure represents an advance of about 26 points in the vear, it having opened in 1925 at 987y Truck Plan Favored. “In the opinion of the management the public interest will best be gerved by having package freight between intermediate points handled as far as practicable by motor trucks, instead of by freight trains.” This simple state ment is taken from the Pennsyiv Ralilroad announcement of the adop- tion of a policy of far-reaching im portance both to the railroads and 1o the truck industry. Motor trucks as competitors with the rallroads wera 01 €N as a problem 1t e railroads is 2 O ithe fealivy the answer that The Pennsvlvanta svst mated that its trucking syste; has effected a saving in operation LL Denses of over half a million dollare For light or “package” frelght over short distances, the truck 1= probably the most efficient method of tra portation. For bulk frelght over a long distance the railrond is quicker and more economical. The average freight train load is about 700 tons which the raflroads carry at the rate of 1.]_1 cents per ton mile. It would take 70 trucks to carry the same load and the cost of such a fieet would be prohibitive as compared with the ona freight train In addition, coal is a chaper fuel than gasoline. Lee Urges Co-ordination. Elisha Lee, vice president Pennsylvania’ System, stated revenie some see In the motor car a great menace to the future of our railroade Personally, I do not. It is true that motor cars have taken very appreci. able amounts of certain kinds of traff from the raflroads and will probabl: take more in the future. The real prob lem 1s one of co-ordination rather than of competition. The railroads will tend more and more to become spacialists In the long-distance mass transporta tion both in passengers and in freight while the motor cars will specialize ir, the shorter hauls and lighter loads e rout s !‘ops.{.{)u es requiring more fre On_shorter hau. theref: motor truck will te the jend oy must become morc and more an in tegral part of ever railroad system The significance of his to the motor truck industry can he readily appre- clated. Thirty-three railroads in the United States and Canada are now using trucke as part of their service vould seem logi i and it would gical that this is Today’s Local Market. An advance of fractionally more than two points to 3481 in l;?g;e National Bank stock featured trading on the local exchange this morning The security was in good demand, a total of 70 shares changing hands. Trading was well diversified. Rail- way preferred stock sold at 83, Amer- ican Security and Trust in odd lots at 330, and 10 shares of District of Columbia Paper at 54. Capital Trae- tion gtock was frm at 96% to 975 and fractionally higher, at 59 to 5914, % ey Bond trading = was utilities at strong levels. em has esti confined to DIPLOMAS GIVEN SEVEN. Claendon Parochial School Exer cises Held at Church. Special Dispatch to The Star. CLARENDON, Va., Juhe 15.—Rev. .F. J. Lackey, pastor of St. Charles Catholic Church of Clarendon, pre- sented diplomas to the graduates of S Charles Parochial School at the clo ing exercises of the school held ves- terday afternoon at the church. The ceremony opened with a pro- cession of the school children, who, headed by the graduates, entered the church singing “Uplift Thy Voice.” In an address preceding the presentation of diplomas and other awards Father Lackey outlined progress made by the school in the three years of its ex- istence, and thanked the teachers, parents and children for their co-op- eration. The graduates are: Lillian Hendley, Doris Preston, F. Frances England, Raymond Burrows, Charles Sterling, Virginia Reddy and Charles Lehman. Gold star certificates were presented to the following: Ralph Batch, Vir- ginia McDonnell, Charles Howell, Mar- guerite O'Brien, Margaret Mills, Lil- lian Hardester, Edward Mullen, Cur ran Massey, Mary Catherine Moore, Frank Woods, Walter Smith, Lilllan Kloss, Helen Mullen, Helen Cranston, Pauline Beuchert, Frances Craninger, Francis Madigan, Charles Heinen Louis Hines, Willlam Zimmerma Elizabeth Asnton, Herbert Howell, M rie Milks, Mercedes Heinen, Maurice according to figurer ~f the Maritime,| Exchange of the CLamber of Com- merce. Wheat showed the largest de- crease, dropping from 377,350 bushels to 52,5687 bushels. Other exports were: Oats, 19,955 bushels; rye, 51,948 bush- els; barley, 18,066 bushels, and flour, 8,943 barrels. TODAY’S BUTTER PRICES. CHICAGO, June 15 (#).—Butter, unsettled; receipts, 15,406 tubs; cream- ery extras, 43; standards, 43; extra 40%4a41%; firsts, 39a39%; sec- 35a38. receipts, 41,223 King, Holmes Sterling, Margaret Childs, Agnes Lesiur, Teresa Drake, James McCausland, Helen Dowlen, Elizabeth Burrows, Ruth Cavanaugh, Charlotte Cranston, Albert Toulette and John Gers. Margaret Mills, Evelyn Holliday and Charles Sterling were given awards for perfect attendance. GRADE MARKING POPULAR. MEMPHIS, Tenn., June 1i (P).— Grade marking of Southern pine lumber is meeting popular welcome among_lumber dealers and buyers, L. R. Putnam, Chicago merchandising ; ordinary firsts, | counsel for the -Southern Pine Asso- 2815; storage pack extras, 31; firsts, |ciation, reported at committee meet- 30%. :ings here today preliminary to the —_—— Midsummer convention of the asso- clation, which will convene tomorrow. WINNIPEG WHEAT BREAKS. % WINNIPEG, June 15 (P).—Wheat futures broke shatply today under the| DIVIDEND RATE KEPT. ST. PAUL, Minn., June 15 ®).—Di- pressure of several bearish factors rectors of the Great Northern Railway just before the close of the market. July delivery receded 6% cents from |have declared a 2% per cent semi- Saturday’s close and October 3% cents. |annual dividend, payable August 1 to stockholders of record of June 26. Absence of export purchase, lower Liverpool cables and improved crop|This is on the basis of 5 per cent an. nually, such ’a prevailed last year. Willys-Overld. .. ‘Willys-Od pf(7). 104% ‘Wilson & Co ctfs. 20% Woolworth ). 1 St Of1 Calif (2) 60% g:l';:: ey N o I % | wrigley (133). . t A StaPiate Glass,. 104 Yellow C (2.62).. Sterling Prod (4) . Youngstown (4). *0dd lot. Stew-Warner (5). baker (4).. exten Studebaker (4) mm;'?d: = K annal caak o Mot “quarterly “or Balf yearly Submarine Boat. Superior Ofl..... Unless otherwise noted, dividends are not Included. Grt North pf (5). Gt Nor Ore (1).. Grt Watn Su (8) Greene Canan. .. Gulf Mo & Nor. . GuM & Npt (6). Guif States S(5). Hartman (2%).. Havana Elec (6) Hayes Whi (3).. Homestake (14). Household P (3). Houston Ofl..... Howe Sound Co Hudson Mn 2%.. Southern Railway has purchased 27,000 tons of heavy ralils, bringing the pur- chases for the year to 82,000 tons. The rails taken up from the main lines will be relaid on branch lines. Punta Alegre 7 1, | Sinclair Ofl & Sinclair Oll 6% Sinclair Ofl 7 8inCOPL Sin Pipe Lin¢ Skelly Oil South Bell Tel b So Por Rico Sug. 228325233 R2RIRIT2ERS 40% 25% 82% 37 66 Be55555555550555®55: TEXTILE IMPORTS DROP. NEW YORK, June 15 (#). — May shipments of British textiles to the United States were nearly 50 per cent less in a year ago, says & special dispatoh to- the Journal of Commerce. 8 P bttt b re Ofl 5% Swift & Co. 3 Tidewater Oil 8%3 Fac B.R. C. 4 & PRREREFETRESNF FRE FEFPEETIEE o5 28382 i08 11 i Superior Steel. .. 107 Spear&Co pf(7). 558 conditions were among the factors.