Evening Star Newspaper, July 9, 1925, Page 28

28 = STOCKS SELL OFF INFINAL TRADING Expectation of Technical Reaction Suddenly Turns Market Downward. BY STUART P. WEST. Spacial Dispatch to The Star. NEW YORK, July 9.—The stock market was unsettled today by the break in United States Treasury is sues, accompanied by sypmpathetic weakness in Liberty loa This was due primarily to reports, which were not confirmed, that the Secretary of the Treasury was resigning. The weakness in Government bonds did not become a factor until after the first hour, and during the first hour fully 25 stocks made new high records. Day’'s New High Records. Among these were United States Smelting, Virginia-Carolina Chemical common and B stock, Goodrich, which was up a point; Robert Reis, Metro nolitan Edison preferred, which was up over 3 points; Underwood Type writer, up over 2 points; North Amer. ican, International Cement, which was up over 2 points; International Rail ways of Central America, Famous Players preferred, Western Electrical Instrument, common and preferred: Niagara Falls Power, which was up a point up 3 points, and eferred Dodge Stock Strong. The strength in Dodge Brothers A atock was due to the expectation of a highly favorable semi-annual report The best information was that this would show earnings at the rate of $& a share. Studebaker touched 50 again, but ran into a large supply at that level and subsequently fell back. There was heavy . profit-taking in the Pierce-Ar: rows, under which the common sank nearly 3 points. Briggs Manufactur ing had a spurt above 43, but the fea ture of the mdtor accessories was Tim. ken Roller Bearing, which had been doing little for a long while stock on large transactions rose near! 2 p It p 1 share and cur- rent earnings are estimated at some. thing like twice that amount Fisher Body Soars. Fisher Body on reports on a_com plete merger with General Motors opened up over 5 points, with sales of 8100 shaves at 79%. The stock is earning at the rate of §13 a share, according to reliable esti mates. The company is doing capacity business and the earnings for the sec ond half it is anticipated, will show an increase even over the very large total of the first half yvear. General Motors owns 60 per cent of Fisher Body and the idea fis that in order to get in the remaining 40 per cent it will have to offer its own stock on a share-for-share basis Sugar prices made a new low, for refined and raw, flected in lower pri Sugar. Cuba Cane preferred and Pun ta Alegre CLOS! both IS IRREGULAR. General Selling of Standard Shares in | Late Trading. NEW YORK. July 9 (®).—General selling of standard shares for both ac counts, inspired by the belief that the market was due for a technical reac tior, turned the course of stock pricy downward today. Copper, public util ity and a few misceilaneous issues however, moved counter to the gen eral trend. Sales approximated 1,300 000 shares The closing was irregi tive bidding for public uti sted with energetic sections of United Cigar than 4 points, Competi ty shares b Foreigr vian currer private rep lower; light demand e, firm; buyir HICAGO—Wh, cables. Corn, hea Govern decl slow demr lar, report Hogs, irre; CONDITIONS IMPROVED |« IN LEATHER INDUSTRY | CHICAGO, [7-2) irst six mont that the five ‘show after again a i sue dent toda. ~He tlook is more the war since the Govern- stocks on hs supply. Los; en so complete h prices and de trong th whole will be c ade. ports AUTO OUTPUT STILL HIGH NEW YORK, July (®).—Automo bile production « usually high level the vear the trade placing the output f at 396,000 cars and trucks, red with 404,300 in May and 421,878 ir April, which was the industry’s rec- ord mont he_June output th year was nearly 150,000 units greater than in June last yvear. - June SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Aoccratea On s 10 Baltimore & Ohio s 1920 Bethlehem Steel 5s 1936 Central of Georgia 6s 1920 €ni., Mil & St.Paul 6s 1934 Chil R. 1. & Pac. 5 ity of Lyons 6 14 Col. Gas & Elec. Lsi Continenta Du Pont Erie R. Humble Oil 5158 1032 Leh: Pow. Sec. Co Oregon Short Line is 19 Penna. R. Sinel. Cr. Oil Pur Swiff & Co. s 10 Tidewater Oil 8128 Union Pac. RR Union Tank Car 0 T.S. Rubber 7’38 1930 Western Union 533 1938 Westinghouse E.&! SRR TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ——Clos This | FINANCIAL. THE EVEN ING STAR, NEW YORK STOCK EXCHANGE Rzceived by Private Wire Direct to The Star Office Abitibl Pow (4). Adv Rumley. ... Ahumada (11).. Alr Reduc (4) Ajax Rubber. Alaska June Allled Chem (4). Allled Cm pt(7). Allls Chalm (8). Am Agricul Chm. Am Ag Chm pf.. Am Beet Sug(4). Am Bosch. . Am Can (17). Am Can pf (7).. Am Car&Fdy (6) AmC&F pf (7). Am Chain A (2). Am Chicle : Am Chicle ctfs. . Am Chicle pr pf. Am Drug (60c).. Am Express (6). Am & For Pow.. Am & FPpf (T). Am Hide & Lea. Am Ice (7) Am Ice pt (6). .. Am Internatl. Am La Fran (1). Am Linseed. . Am Linsd pf 33 Am Loco (+18). Am Loco pf (7). Am Metal (3) Am Metal pf (7). Am Piano pf(7). Am Radlator (4) Am Safety R (3) Am Ship & Com. Am S & Ret (6 Am Stl Fdys (3). Am Sugar....... Am Sugar pf 11) Am Sumatra. . Am Tel&Tel (3). Am Tobacco (7). Am Toba B (7). Am Tobac pf () Am Typ Fdrs(8) Am Type pf (7). Am WW&EI 1.20. A WW&EL pt(6) . Am W W 1st (7). Am Woolen..... Am Wool pf (7). Am Writ Pap pf. AmZincof...... Anaconda (3). Armour Del (7). Armour i1 A(2). Arn Cons & Co... Artloom Corpn. . Artloom pf ( Asso Dry G Asso D G 1st(8). Asso Oll (2). Atchison (7)... Atchison pf (5).. Atl Birm & At. Atlantic C L(18). AtIGuIf & WI.. Atl Guif & W1 pt Atiantic Refing. . Atlas Powdr (4). Atlas Tack | Austin-Nichols. . Auto Knitter Baldwin L (T) 3ald Loco pf(7). Balto & Ohio(5). Bal & Oh pf (4).. Bang & Ar (3)... Barnet Leather. . Barnsdall A. Barnsdall B. Beech Nut(2.40) . Bethlehem Eeth Stl pf (7) Botany Mills(A) Bkl Edison (8). Bk-Man T pf(6). Bkl Union G4). Brown Shoe (4) . Brow h pf (7). Brunswick (3.60) *Buff Reh & P... Burns Bro (10).. Burns Br B (2).. Bur Add Ma (3). Bush Terminal. . B Ter de (7). Bush Trm pf(7) Butte Cop (50¢) . Butte & Sup (1). Caddo Central. .. Pete (1%).. Calu & A (12%8). Calu & Hec (50¢) { Can Pacific (10) Cent leather-. ... Cent Leather pt Century Rib (2). ro d Pasco (4). ertain-Teed(4) . andler (3). &O pf(6} | Chi & Alton Alton pf. st 111 Mil & StP. Mil& SLP pt. Chi& Nwn (4). Chi & Nw pf (7). Chi Pneu T (5) iRI&Pac... RI&P DS (6). CR1&Ppf > StPM&ODT (5). hilds (72.40) Chile Cop Chino Copper Chrysier pt Cluett Peab (5) C “ola (7) Col Fuel & lron. Col G & E (2.60) . ColCarbon (4). | Com Solv A .. Com Solv B g Congolium (3).. Consol Cigar Consol Distribut. Consol Gas (5) | Consol Textile. .. | Cont Can (4) | Cont Insur (6) Cont Mot (80¢).. Corn Frod (2). Corn Prod pf(7). Crucible Stl (4). Crucible pf (T) Cuban Cane Su Cub Cane Su pf.. Cub Am Sug (3). Cuban Domin Cudahay Pkg (7) Cuyamel Fr (4). Davison Chem. .. Deere&Co pf(5). Del & Hud (9). .. Del L & Wn(17). Detroit Ed (8). . Dodge Bros Cl1 A. Dodge pf (7). ... Dome Mines (2). Dupont (10). . | Duquesne pf (7). Eastman (18). Eaton Axle (2).. Elec Str Bat (4). End-John (5). Endicott pt (7). . ErieRR.. Erfe 1st pf . . Exchange (1l Fairbks (2.60) Famous P1 (8) Famous PIrs rts. Famous pf (8) Feder Lt (11.40). Fed Min pf (7).. 7% |Fifth Ave (64¢). First Nat Ppf(8) Fisher Body (5). Fisk Rubber. Fisk 1st pf (4 Fleischmann(4). Foundation (8).. Frank-Si pf (7). Freeport-Texas. Gardner Motor.. Gen Asphalt. Gen Asph pf (5). Gen Baking (6).. Gen Electric(8). Gen El spec 60c. . Gen Motors (6).. Gen Mot pf (7). Gen Petrm (2).. Open. 69 15 1% 1021 14% 1% 91t 119% 84 20% 58% 41 35% . 196% 119% 104% 126% 23% 51'% 140% High. 69 15 1% 103% 14% 1% 91%e 119% 84 20% 584 41 86 196% Low. Close. 684 14 11 102% 13% 1% 914 119% 83 19% 56% 41 341 198% 119% 119% 105 126% 28% b1% 48% 91 6 141% 434 91% 10 116 86 374 13% 20% 72 116% 121 50% 115 96 107% 60 108% 38% 64% 99 8% 141 96 W 96% 96 108% 126% 231 51% 48% 91 5% 140 414 91 10 115% 85% 36 18% 29% 714 114% 121 50 115 96 106% 584 613 106% 381a 63t 99 8% 140% 96 95% % 107% 107% 121 110 62% 1075% 100 39% 80k 3ts 29 42 9T7% 23t 9ln 425 101% 5474 99 384 119% 9613 5% 165% 5a% 52% 113 50 11 23 2 116% 111 104 22% 8lly 18% 117% 2% 28% 52% 15% 142 18% 62 357 641 110 94u 12438 681 95% 12 52 29% 4% 103% 56 35 967 142% 3 140% 1244 27% 81% 14% 181 110% 108% 20 39% 91% 110 110 65% 69 114 28% 38% 16% 39% 2% 102% 6 117% 32% 561 17 101 9% 214 103% 90% 129 105 17 81 55% 96 147 287% 11% 87 11342 5T% 120t 109% 62% 107% 997 8734 '19«. "9 40 9714 28% 9 41% 101% 54 99 377 118% 96ta 5% 163% 51% 51 113 50 11 114% 39% 44% 104 22% 81 18% 8745 997 116% 2% 28 49% 15 141% 17% 604y 344 63% 110 94 12415 68 95% 11% 50% 29% 414 102% 56 34% 96% 141 140% 1243 24% 80% 14% 179% 110% 108% 19% 38 91l 109% 110 64 69 114 27% 8715 16% 381y 102 5% 17% 321 56% 17 101 74 20% 103 89 127 105 16% 8% B4l 95% 147 285 1% 864 113 6% 684 14 11 1034% 18% 1% 91% 119% 831 19% 564 41 34% 194% 119% 104 126% 28% 51% 48% 91 5% 140 4% 1% 10 115% 86 374 18% 294 714 114% 121 50t 115 96 105% 584 6% 107% 38% 63% 99 8% 141 96% 9574 107% 120% 109% 8% 54% 96 147 285% | 1% Gen Ry Sig (6). . Gen Refrac (2) Gimbel Br pf(7). Ginter (13%). Glidden Co. Goodrich. .. . uoodynr Pt (7). ear pr (8) Grln y Consol. . Grt North pf (5) Gt Nor Ore (1). . Grt Wstn Su (8). Gt West 8 pf(7). Greene Canan Guantanamo. . Gulf Mo & Nor. . Gulf States S(5) Hanna 1st pf. Hart; (23%) Havana Elec (6). Hayes Wh (3) .. Homestake (14) . Household P (3). Howe Sound Co. . Houston ON Hudson Mn 2% Hudson Mot (3). Hupp Mot (1) Iilinots Cen (7) 111 Cent pf (8) Indep Ofl (1).. Indlan Motorey.. . Indian Refining. . Inland St(2%)... Inland Stl pf (7). Inspir Cop (50c). Interb Rap Tr. Internat Agri Int Bus Mac ( Int Cement (4). Int Com Eng (2). Internat Har(5). Inter Har pf (7). Int Mer Marine. . Int Mer Mar pf Int Nickel. .. Int Paper.. Int Paper pf (6) Intl Paper pf(7) Int Ry Cent Am. Int Ry CA pf(5). Int Shoe pf (8). . Int Tel & Tel (6) Jewel Te pf (7). Jones Bros Tea. . Jordan Mot (3).. Kan City South. . Kan C So pf (4). Kayser (Julius). Kayser (J) pf(3) Kelly-Spring. ... Kelly-Spring 1st Kelsey Whi (6). Kennecott (3) Keystone T & R. Kinney G R (4).. Kinney pf (8) Kresge S S (8) Lehigh Val(3%) Lee Tire & Rub. . Liggett & M(14). Lig & My B(t4). Loews Inc (2)... Toft. ... Long Bell A (4). Loose--Wiles. . Lortllard (3) Loriilard pf (7) Loutsiana Oil. .. Louis & Nsh(6). Ludlum (2)..... McCro B (1.60). . Mack Treks (8) . Mack T 1st (7). . Macy HR & Co. Magma C (75¢) Mallison & Co Manati (5) Man Emd g Man Shirt (1 ‘fi) Manlla El (2%). Maracaibo Ofl. . . Market St prior. Marland O(75¢). Martin-Pry (4).. Mathieson Alka. Maxwell(A)otts Maxwell (B)ctf: May Dept St(5). May Dp S pf(7) Metro Ed pf (7). Mexican Seabd. . Miami Cop (1).. Mid-Continent. Middie States Midland P pf(19) 117% Mis Kan &Tex.. MK&Tpf(5).. Missour{ Pll‘lflc, Missour! Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 75c. Motor Whi 1.60. . Murray B (12.40) Nash & Chat (7) ‘\zl Biscuit (3).. t Cloak pf (7) t Dairy (3) t Dpt Stor . t D St 1st (T) t Distliters \xl Lead (8) Nat Ry Mex 2d ., Nat Supply (3).. Nevada Copper . . Nwpt U Gas (5). NYAIrBr (4).. N Y Air Br A(4) N Y Canners(2). N Y Central (7). \Y(‘&S!LIAH5) N Y Dock...... NY NH & Hart. NY On& Wn(1). NY Rys part efs. N Y Shipbld (2). NY Steam pf(7). Niag Fis Pw (2) Niag F pf(1%) Norfolk South. .. Norf & West(7). Norf & W pf (4). North Am (3.40). Notth Am pf(3), North Pac (5) Oppenheim Col. . Orpheum (1.80). Otis Elevat (6). Otis Steel. Owens Bot Pacific Oll (3) Packard (11.70). Packard pf (7) Paige Mot (1.20). Pan-Amer (6)... Pan-Amer B (). Panhand E Park & Tliford. . Penick & Ford. . Penn Ed pf (8) Pennsy R R (3). Penn Seab Steel. Pacific Gas (8).. Feoples Gas rts. | Pere Marq (4) ... Pere Mar pf (5). PhlaCo (4)..... Phila&RC&I | Phil-Jons pf (7). Phillip Morris. .. Phillips Pet (2). Phoenix Hosiery. Phoenix pf (7). Plerce Arrow. Pierce Arrow pf. Plerce Ofl...... Plerce Petrol. . Pitts Term Coal. Pitts Ter pf (6). Pitts Ut pf +1.20. Pitts & West Va. Postum Cer (4) Press Steel Car Pr St Car pf (7). Prod & Reflners. Pub Se E&G pf 6. | Pub Ser N.J (5). | Put Serv NJ rts. Pub S NJ pf (7). Pullman Co (8) .. Punta Al Su (5). Pure Ofl (1%).., Radio Corp of A. Radio C pf (3%). Ry Stl Spg (8).. Ry St Sp pf (7) Ray Cons Cop ding (4) Reading rts Reading 2d (2) Robert Rels. . Remington Type. Replogle Steel. Rep It & Steel.. Repnolds Sprog: | Rey Too B (3)... { Rossia Ins (6) toyal D (4.42%) St Joseph Ld(2). 124% 119% 13% T4 17% 40 28 T4% 14% a7 9 7% 89 531 36" Low. Close. 171% 45 104 39 201 55% 102% 106 15% 694 28% 4 106 114% 13% 4% 28 8215 50% 28% 176% 39% 40% 174 45 104 390 21y 56% 108 106 1616 6914 29 106% 114% « | ernment 16% 81y 10 107 29% 27 13 121% 68% 43 108'% 118% BY G in United States G market. that Secretary plating securities in { higher money. 108.6, T =0ld down to 103.29. the break was fol able recovery sold down to They opened at 103. comparatively [ This weakness Government versely the bala ket, which was h There was any immediately for money in alm no hig! haps because new industrial garian German, French and relatively steady. Virginia-Carolin: WATTANLS Were ag the Copper Ts were pathy with copper borough 7 per cent Among the rails nde Western strength, of the De Today 300,000 Great land bank 43 to the optional NEW YORK f Congoleum-) duced the annu 82 to a share by juarterly payment of ower earnings s. due to airn, covering dividend, a company StL & San F(5). StL San F pf(6). St L Southwest. . Savage Arms Schulte (*8). Seaboard Air L.. Seabd Air L pf Seagrave (1.20). Sears-Roebk (6) . hattuck-Ariz. .. hell Un (1.40). . Shell Un pf (6) .. Simmons Co (2). Stmms Pet (1) Sinclair Ofl. .. Skelly Ol Sloss-Shef (6) South Port S (6) South Pac (6)... Southern Ry (5). South Ry pf (5). Spicer Mfg...... Spicer pf (8) Std Gas & E1(3). td G&E1 pf(4). tand Mill (5). Ol Callf (2) tONNJ (1). St Ol N J pf (7) std Plate Glass. . Sterling Prod(4). Stew-Warner(5) Stromberg (6) Studebaker (4) .. Submarine Boat. Superior O Symington. : Symington A(2). 84% 48 56 110% 33ta 2 Telautogph 25c. . Tennessee Cop {Texas Co (3).... Tex Gulf S (%) Tex & PacC&O. Tex & Pacific. .. *Tex Pac Ld Tr Tide Wat O1(4). Tide Water (n). . Timken R B(14). Tobac Prod (6). Tob Prod A (7) Transcont Ofl. Underwood (3). . Un Bag & Paper. Union Ol (1.80) . Union Of1 (1.30) . Un Pacific (10). . Un Pacific pt(4). n Tank Car(5). Utd Clgar(+3%). United Drug (6). U S Cast Iron P. U S Distributing USHoft (2)..... U S Ind Alcohol. U S Realty (8) U S Rubber..... U S Rub 18t (8). U S Smelting(3). 39% JSSmpf (3%). 45% U S Steel (17)... 116% U S Steel pf (7).. 124% Universal Pipe.. 382% Univer P pf (7).. 69 Vanadium. 34 Va-Caro Chem 8% Va-CaroChem B. . 4% Va-Caro Ch pf. 23% Vivadou.... 15% Wabash......... 33% Wabash pf A(5). 68 Waldorf (1%) 16 Ward Baking B.. 68 Ward Bak pf(7). 105% Warren Co (4).. 50 Weber (4)...... b56% West Maryland.. 14% Westn Pac (5a).. 34% Wesn Pac pf(6a) 8Tk West Union (7).. 135% West Air Br (6). 105 Westinghse (4).. 71% ‘Weston Elec 13% Weston A (2)... 244 Wheel & L Erie.. 19% Wheel & LEpf.. 34% White Eagle (2). 27% White Mot (4)... T4k White Rock (12). 41% Wickwire ctfs... 4l Wwilson & Co 614 Willys-Over! 204 ‘Willys-Od pf (7). 103% Woolworth (3).. 161% Worthn Pump... 42 Wright Aero(1). 30% wrigley (13%).. 50% Yellow C (2.52).. 44% Youngstown (4). 67% *0dd lot. tPartly extra. Dividend rates are the annual 132! 129% €| 4 39% 8914 134 567 107% Unle therwise noted, idends are vot included, a temporary in the demand for hard-surfaced floor made it advisable to cut the statement said WASHIN 1S, BONDS TAKE -~ SHARP TUMBLES All Government Issues Turn Heavy—Mellon Rumor Possible Factor. SORGE T. HUGHES. 1 Dispatch to The Star. V YORK, July 9.—A sharp break vernment bonds was the outstanding feature of today's The Treasury issues suffered the largest loss, but some of the Lib- erties were also substantially lower, and all of them were heavy. Two explanations were current the streets, one of them that the sell- ing was due to an unconfirmed report Mellon was contem- resigning and the other was that the banks were disposing of Gov- expectation of vernment Issues Drop. The Treasury 4%s, which opened at 10 sury 4s, which opened at 104.6, 16, In wed by Of the Libertys, first 4148 were the most heavily sold. . and on sales of small blocks ran down United obligations affected ad- of the bond mar; 108t » indication her Foreign Group Active. In the balance of the list there was unusual activity in the foreign group. Japanese 6l;s were offered blocks and declined fractionally, ompetition Japanese loans. 7138 sold down a Belgian Chemical T%s with 1 in active demand speculative bonds, < firm, stocks. notes were weak. nver 5s furnished a point responding to deductions from the May earnings statement New Offerings. Today's new offerings included $13 Consolidated Power of Japan 614s to yield cent and $3,000,000 Lincoln join to vield redemption date. CONGOLEUM REDUCES ANNUAL DIVIDENDS July 9 (#).—Directors Inc., I dividend rate from | authorizing 30 cents a share. n the last two qua slowing up | 4.3 84% 85% 854 80 48 56 1104 109% 3314 4215 16% 172% 105% 50 56% 14% 34% 8715 135% 105 1% 15% 25% 19% 34% 27% T4% 41% 4% 61 20% 104% 161% 42 30% 51 44y 68 tPavable in preferred stock. ziven in the above table I pasments based on the atest quarterls or half-vearly declaratio extra, in 6, and the both cases consider- the States uniformly of quotations | in large per- of Hun- point. issues full Ana- sym. Inter in and Ri 5 per | stock 1 per cent today re. B83% 83% aT% 4T 56 324 139% 354 434 814 101 an 45% 46 * 37% 139% T5% 131 87 4 129% 160 33 39% 87 136% 55% 108 39% 45% 115% 1241% 31% 70 34 7 % 44 20% 15% 32% 7% 16% 14% 32% 67% 15% GTON, D, T THURSDAY, JULY 9, 1925 l "ON NEW YORK BONDS STOCK EXCHANGE ' Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Sales Lib3%s... Lib 1st 4%s Lib2d 43 Lib3d 4%s Lib 4th434s 511 US 481944, 232 US43%s 52,131 FORE 283 125 268 409 e in $1,000.) Sales. High. 100 31 1031 101 14 101 24 103 6 104 8 108 6 Low. 100 22 102 16 1016 101 18 102 29 108 29 107 16 1GN. Close. 101 24 102 23 101 10 101 20 102 29 103 31 107 26 Sales. High. Low. Close. Argentine 5s Argentine 65 '59...1 Argentine 6s A. Argentine 65 B. . Argentine 7s Austria7s. .. Bank of Japan 6 Belgium 7s wi. Belgium 7%s. Belgium 8s. Berne 8s... Bollvia 8s. . Bordeaux 6s Brazil 7s. Brazil 8s Canada 58 1926 Cunada 58 1931. Canada 5s 195 Canada 5%s 1929 Chile 75 1943 Chile 85 1926 Chile 85 1941. Chile 85 1946. Chinese Gov Ry bs. Christiania 63 Christiania 8s Con Pow Japan 7 Copenhagen 5%s Cuba 5%s Denmark 6s. .. Denmark 8s. .. DEI5%s Mch '53. 33 36 DEI6%s Nov '53. Dutch East 1 65 '47 23 87 96% 96 957% 102% 99% 99% 86% 926 98 1084 107% 1094 84 81% 98 100% 102% 1 87 18 96% 9644 96% 102% 99% » 100 86% 93% 984 108% 107% 109% 954 844 82 984 100% 102% 104 103 101% 102% 108 1077% 4214 99'% 110% 91% 9815 1017% 99% 1028 110% 18 Dutch East I 65°62. 27 Finland s f 65°45. . Finlands 7s Framerican 74%s. .. French 7s.........1 French 7%s French 8s..... ... Ger El 6%s5°50 wl. German 7s 1 Ger Gen El Halti6s ... Holland-Amer 6s Hungary 648 Japanese 6%4s. Jergens U M 6s Lyous 8s. . Mexico 45 ‘10 asntd il 68 1 16 39 71 09 . 46 3 Mexico 53 assented 20 Netherlands 6s '54. Netherlands 65 '72. Norway 53%s wi. | Norway 6s 1943 Norway 65 1944 Norway 68 1952 Norwazy 8s Orient D # Paris-Ly's-Med 6s. Paris Orleans 7s. .. Peru 8s | Poland 850 wi. Queensland Ts. ... Rio de Jan 85 1946. Rio de Jan 8s 1947 | Rio Gr Do Sul 8s Sao Paulo City 8s. . Sao Paulo State 8s. Stof S Paulo rets. . Seine Dept cf 7s. Serbs Crot Slo §s Sweden 53%sct. Sweden 65 Swiss 534s 1 | Swiss Confed 8s. Tokio 58. | Ud Kingm g { Ud Kingm 5%s '37. 10 35 20 MISCELLANEOUS. Ajax Rubber 8s. ... Am Agr Chem 5s 7 101'% 101% 9 Am Agr Chem T%s 28 Am Chain sf 6s°33. Am Smit & R 1st 58 Am Smit& R Am Sug ref 6s AmT& Tcltr4s AmT& Tcltrbs.. AmMT&Tsf5s... Am T & T deb 5%s. AmMT&TcvEs. ... Am Water Wks 5s. Anaconda 1st 6s Anaconda cv db 7s. 1 Andes Cop 7s rets. Armour & Co 414s. Armour Del 5%s Atlantic Refin 55 Barnesda:l s f 8 ell Tel Pa b3 Beth Steel pm 6s... Beth Steel 5%s 63. EBeth Steel s f 6s. Brier H St 1st 5 %s Bklyn Ed gen 6: Bush T Bldg 5360 Calif Pete 6%s.... Cen Leth 6s '45 cfs Chile Copper 6=. .. Col Gas & El 5s Col Gas & El 55 sta Commonwth P 68 Con Coal Md 1st 53, Con G NY 5%s wi. Consumers Pow 5s. Cuba Canecvd 8 Cuban Am Sug 8s. . Denver Gas b Det Edison b8 Dodge wi 65 Donner Steel Du Pont de N DugL&P 5 ; Duquesne Light 6s. 4 4 1 . 13 50 38 Est Cuba Sug 7%s. 3 Empire G & F T%s. Fisk Rubber 8s. ... Gen Refractres 6s. Goodrich 6%s. Goodyear §s 1921 Goodyear 85 1941.. 3 Hershey 65 194 Hoe & Co 614s. Humble O & R5%s Iilinois Bell 1st 6s. Illinols Steel 4%s. . Indiana Steel 5s. Int Mer Marine 6: Inter Paper 5s'47..7 Inter Paper 6S..... KCP&Lt5s A'S2 Kan G & El 68 '52. . Kelly-Spring 8s. Laclede G 5%s '53. Liggett & Myrs 5s. Liggett & Myrs 7s. Lorillard (P) 5s. .. Louisv G & E 53 '52 Manati Sug sf T%s Mid-Con 63%s,"40. . Midvale Steel 5s... Montana Pow 5s. New Eng Tel 5s. N Y Ed 5844 W N ¥ Eden 1st 6%s NYG EL H&P 45 NY Tel4% N Y Tel 65’41 N Y Tel 65’49 North Am Ed 6 Nor Ohio T & L 6: Nor States Pow bs. Nor States Pow 6s. 65% 106% 49 56% 14 344 87% 134 103% T4 134 24% 18% 33% 27% 72% 39% 4% 6% 19% 103% 159 40% 20% 501 42 677 66% 105% 49 56% 14 34% 87% 134 103% T1% 15% 25% 18% 34 27% 2% 41% 4% 6% 19% 104% 159 40% 29% 51 43 68 Otis Steel 8s. Pacific Gas & El bs. People’s Gas 58 Phlll Cob5%s'38 Phila Co ref 6s A Phila & Rd C & 168 Plerce-Arrow 8s... Public Servic Pub Serv Elec 68 P Serv Gas 5%s ‘69 P Serv Gas 5%s5 '64 Punta Alegr! Sinciair Oil Sinclair Ol 6%s. .. Sinclair Ofl Te..... SInCOPL6s'28.. Sin Pipe Line 6s. .. Skelly Ofl 6%s South Bell Tel &: Southwest Bell & Tenn Elac Pow Tide Wat Ol1 6% Toledo Edn 1st Union Bag & P 6s.. United Drug 6s U S Rub Istrf o apecia U S Rubber 7%: U S Steel s f 5s. Utah Pow & Lt 6 ll 1064% ‘106 4 9%% 96l 87 965 96 96 102% 99% 100 86% 927 984 108% 107% 109% 4 | Toledo Trac 6s Sales. High. Low. Close Va-Car Chem 7s... 83 99% 99 99 ar Ch 7%s w..128 79% 78% Vertlentes Sug 7s.. 5 91 91 Warner Sug 7s°39. 53 81 80% Warner Sug 7s'41. 1 94% 94% West Elec 6s...... 31 100% 100 Westinghouse 7s.. 7 107! 106% Willys-Ov 6%s'33. 12 102 Wilson & Co 1st 6s. 4 99 Wilson & Cocvés.. 1 73 | Winchester A 7%s. 1 101% Youngstn S& T 6s. 25 997 RAILROADS. Atchison gen 4s... 22 90% AtlanticCLecl4s.. 5 884 Atiantic C L 1st 48, 63 92% Atlan CL 4%s'64. 2 98% AtlanticCL7s.... 1 1074 B& O gold 4 .22 90% 29 93y 3 921, 102% 103% 1034 88 9814 91% 877 117% 80'4 107% 1024 B&O Sw Div 58 cfr 115 Bkiyn Manhat 6s.. 24 Buff R & Pitt 4%, 2 Canad North 6%s.. 24 Canad Pac deb 4s.. 23 Car Clinch & O 6s. .26 Centof Ga5%s.... 11 Centof Ga6s...... 6 Central Pacfic 4s.. 36 Ches& Ocv4%s... Ches & O gn 4%s. . Ches & O cv bs. Chi & Alton 3s. Chi & Alton 8%a. .. Chi B & Q 1st rf 58. CB&Q-Il3k%s... Chi & EIgnbs Chi Great West 4s. ” ] g 1 L3 w a 3 aaqaaaaqaaQ 2RRRRRERE ggaga Chii Un Sta 6545 Chi & W Ind C&WIsls CCC&StL 4% CCC & St L 58. Cleve Term 5s Cleve Term 5%s. .. C&S1st4s'29.... Cuba RRG8....... Guba R R 7%s. Del& Ha 1strf 49, | Del Hud cv 55 °35. . Del & Hud 53%4s. .. Den & Rio G cn 4s. D & Rio G Wst 53..182 Erie 1st cons 4s.... rie gen 4s rie conv 4s A Erie conv 46 B. Erie conv 4s D. Fla E C 5574 Gr Trunk sf db 6 Grand Trunk 7s. Great North 5s. ... | Great North 514s. . orth gen 78. Havana ERL&P Hud & Man ref 5s Hud & Man aj bs.. 111 Cent ref 58 11l Central 5% 111 C-C St L&NO 53 Int Rap Tran 5s. .. Int Rap Tr 55 stpd. Int Rap Tran 6s. Int Rap Tran 7s Int & G Nor 1st es. Int & G Nor aj 6s. lowa Cent 18t 58 Kansas City S 3s Kansas City S 3s Kan City Term 4s.. 3 Lake Shore 4s '31.. Lehigh Val ¢n 4 Lehigh Val 55 2003 Louis & N uni 4s. . Louts & Nash 5%s. Louis & Nash 7s. Manhat Ry cn 4s Man Ry 2d 45 2013 Market St Ry 7 Ry & L s M & St L 1st-rf 4s. M St P & SSMcn 4s M StP & SSM 5%s. M StP & SSM 6}, MK &T Ist 4s .10 P-4 10 MK & T adj 58 MK&TprmssA. Ao Pacific gen 4s. . Mo Pac 55 1965 Mo Facinc 6s. Mo Pac 6scfs. ... New Or Term 4s.. . N O Tex& M 5s B. NOT&Mbo%s. NOT&MG%sn.. N Y Cengen 3%s.. N Y Cent 4s 98 Y Cent deb 4s. Y Centribs N Y Cent LScl 3%2 NY Chi & St L5%s YC&StLEsA. New Havencd 6s. NY Ont W 1st 43 Y State Ry 4%4s. Y W & Bos 4%s. . XNorthern Pac. 4s. Northern Pac 58 D. Northeyn Pac r i 6s- Ore Short Liref 4s. Ore Sht L cn 55 '48. Ore-Wash 1st rf 45, Pennsyl gen 414s. . Pennsyl gen 53 Pennsyl 5s '64. Pennsyl 6%s. Pennsy1 gold 7 Pere Mrq 1st 45" 05 Pere Marq 1st 5s Reading gen 4%3.. 3 RIATK&L 4%s St L IM&S 4s'29 St L IM&S R&G 4s. SUL&SFpl4sA.. StL&SFprinbs. StL&SFo%sD.. StL&SF adj6s.. |StL&SFincés... StP & KOSnL 4%s San A & Arn P4s.. Seab'd A L adj 6s.. Seab'd A L con 6s.. | Sou Pacific 45 °29. Sou Pacific ref 4s. . Southern Ry gn 4s. Southern Ry 1st 5s “| Southern Ry 6s ot | Southern Ry 6%s. Third Ave adj b8 | Tol StL & W ds. 9ty 924 881y 8643 841 811z 94% 973, 8974 9% 1031 ® 1057% 110% 40% 85% 100 92% 994 99% 9814 974 974 66% 95% 7% T Union Pac 1st 48 Union Pac 48 '37- .. Virginia Ry 1st 5s. Va Ry & P Ist 63 Wabash 2d 58..... Wabash %8 '75... Western Ma 4s.... Western Pactilc 5s. Wheel & L E cn 4s. Whel & LErf 4%s 50 7% 78% 1% 78% 0IL STOCK PLAN D_ENIED NEW YORK. July 9 (P).—Official denial is made by the Standard Ol Co. of New Jersey of its reported inten: tion to retire the outstanding pre- ferred stock at $115, which has been a topic of interest in the financial dis- trict. The company stated that un- der the terms of the stock offer the issue could not be retired before 4 | March, 1926. UNION OIL'S EARNINGS. NEW YORK. July 9 (®).—Union Oil | Co. of California reports net income ! of $5,900,000 for the first half of 1925, equal to $1.56 a chare on $94,500,000 stock of $25_par value. against $6,200,000, or $6.88 a share on $90.- 000,000 stock of $100 par value, in the corresponding period of 19 R Fool questions usually beget answers. fool 1 1 ! | | | i | fluence today { December, fat FINANC DOWNTURNS NOTED ’ INWHEAT VALUES Weak Liverpool Market Has “ Depressing Effect on Chicago Prices. By the Associated Press HICAGO, July 9.—Unexpected downturns in wheat quotations at Liverpool had a depressing early on wheat values here General selling took place, and the consequent breaks in price forced into operation numerous standing orders to let go of holdings so as to stop losses at prearranged limits. Re. ports of cool weather northwest tend ed also to weaken the market de various spite assertions that black rust already | has caused 5 to 25 per cent damage throughout considerable territory in South Dakota. The gpening, 7 to 2% lower, September, 1.44 to 1.4413, and 1.45% to 1.45%, was fol- lowed by something of a rally and then by a new decline to slightly un-| der the initial bottom figures. Favorable weather conditions, as well as sympathy with wheat, eased corn and oats. After opening at 3 to 3% decline, September, 1.05% to 1.06 the corn market recovered a little, but soon dropped lower than before. Oats started at % to 13 lower, Sep- tember, 463, and later continued td 838 Provisions were easy, cline in hog values and High owing to a de in grain Low September December OATS— July September December RYE— July | September | Decenber LARD— Juiy September COTTON EASES OFF IN EARLY TRADING Liverpool Cables, Reports of Show- ers and Profit Taking Weaken Market. By the Associated Press NEW YORK, July market _opened easy 19 to 25 points today relatively easy Liverpool cables, pri- vate reports of showers. in north Texas and realizing by recent buyers There was covering and some trade | buying at the decline, hut the market eased off to 23.80 for October, active monthe generally showing net losses of about 20 to 25 points New York cotton futures steads at net decline of 17 to Hich. TLow 9.—The cotton at a decline of 67% | July Octover Decenibe January 3% | March Opening : July r. 23 8 cember, 24.00: Janu 38 March New Orleans Quotation NEW ORLEANS, July ton market had an easy opening, al- though it did not decline at the : much as warranted by the Liverpool cables, first trades showing losses of 18 to 23 points, and prices eased off 3 few right after the call, October trading steads October Decomber January mid January Ortober. 2348 CHICAGO LIVE STOCK MARKET | CHICAGO, July 9.-8United States Department of Hogs 1084 | P | Wednes Receipts. 28,000 head: fairly active mostly to shippers and vard traders uneven: steady to 15 lower than average; big packers hidding mostly 15 lower: bulk sorted 180 pounds upward. 13.65a13.80: top 13.85; bulk 140 to 175 pound averages, 13.35: 0: bulk strong-weight slaugh ter pig: .00a13 desirable p: ing sows mostly around 12.00; weight hogs, 12.90a13.75: medium, 13.15 | 13.85; light. 12.90al light light 2.75a13.60: pacl <mooth and rough, 11.30al slaughter pigs, 1 13.25 ttle—Receipts, 9,000 head: com mon and medium steers very slow; no reliable outler, spots weak to 25 lower better grades steady to strong; highly finished vearlings showing m strength: top matured steers, 13 several loads, 13.00a13. prime long yearlings held -above 13.60: she stock steady to strang; bulls 10 tq 15 higher; vealers up, mostly 11.50a12.50 to el Sheep—Receipts 50 14.000 head: fat lambs active early; desirable natives | mostly 00 with light sort culls, 10.50a11.00; few 11 ket generally strong to 2 sales Western lambs, 14 held at 15.50 and above: on feeding lambs; fat desirable - native ewes, weighty kind. 5.00a5 BAIL‘THEHS REDUCED. CHICAGO, July 9 (#)—Railroad losses, due to the acti of thieve: were reduced from $3,117,484 in 192: to § 08 last vear, W. W. Mor rison Wilmington, N. C., acting chairman of the protective section of the American Railway Associatian, reported vesterday. Losses from this source in 1914 were $12,000,000, he said. mar- a15.00: some nothing 6.00a7.50 NEW PRESIDENT NmD NEW YORK, July 9.—Thomas C. Powell, vice president® of the Erie Rallroad Co.. has been elected presi- dent of the Chicago & Western Illinois Rallway Co.. it was announced tod: He succeeds W. J. Jackson who was appointed chairman of the executive committee. B DAIRY PRODUCTS. BALTIMORE, Md.. July 9.—Live poultry—Spring chickens, pound, 30a 38; Leghorns, 22a29: old hens, 20a. Leghorns, old roosters, young ducks, 20a25; pigeons, pair, 25a30. Eggs—Receipts, 1,244 cases; and nearby firsts. 321;a34. Butter—Good to fancy creamery pound, 3%9a4d; prints, 44a46; ladl 34a35; "store packed, 31a33; rolls, .31 33; process butter, '36a31. LUDLUIS OB.DEBS Gnow NEW YORK, July 9 (#).—The Lud- native lum Steel Co. reports that orders re- celved during the first six months total $1,883,000, against $1.655,000 for the corresponding period of 1924. Net earnings for the first six months will be considerably in excess of the first six months of 1924. June bookings alone were §303,000, against §185,000 in June, 1924, in response to | more points | bulk | sheep strang; | IAL. TREASURY 1SSUES GALL FOR FUNDS Proceeds Asked on Recent Certificate Sale—Postal Receipts Increase. BY CHAS. P. SHAEFFER. Deposits of the Nation's banks ars being depleted today to the extent nf $18,637,000, being paid into the | Treasury out of proceeds of the Juna 115 sale of Government certificates of indebtedness. Today’s disbursement | the initial call, was f of the flotation, which t TJ-1926, bearing 3 per cent interest maturing June 15. 1926, and issued 1o the extent of $124,247,000 | | i | ; which marks 15 per cent s designated Postal Receipts Improve. Postal receipts at 50 selected cities of the United States for June showed a gain of 14.72 per cent the same month of 1924, Postmaster General New announces. In making the statement the Post aster General said e June, 1924, with which t parison is made, was a ver month and showed ss of cent in receipts from Ju Also, June, 1925, had one business day than the pre Total receipts for the $26,986.518, while those fc sponding month last $23,523,795 Bank Declares Dividend Directors of the 1 change Bank declarc semi-annu per cent payable on June 30 000, with profits of 1 $643,000. lof the m: is yea per Jul The bank surplus iavone points wi amed itern, which repre increase of $36.000 over the previous reporting period contrast which are bein ber of Ic Schiav { acquisition of the ir property on H street held for the probable | the bank wi future needs ¢ New Bond Tssue on Sale. Townsend Scott & Baltimors bankers and brokers, with local of are offering today an issue of $1 of Wilkins-Rogers Milling Co. first mortgage #8 per cent ser bonds at prices vielding from 6.40 per cent The bonds gre secured by | mortgage on all the propert: lcompany, consisting ground, 338 square feet, I the corn of K and Potomac this city, improved by a mod ieven-story inforced concrete mi ilding, grain elevators and ware. | house with all necessary machiner lequipment, etc., representing an in Vestment of $30,000 Proceeds of the sale will be ed t | retire bank loans which were ir {red in the rebuild the plant They are due annually, June to 1940, at the rate of $10,000 Son, 0,000 hange Trading Light. One of the lightest trading d; g the vear was witnessed on the Was ington Stock Exchange this morni but three issues have fent a tractivene: to gain admission to the sales rec These were four shares of Merchants Bank and Trust Co. at {134, 10 shares of Gas at 621, and a {like number of Railway preferred | shares at s4. Fewer Commercial Failures. R. G. Dun & Co. commercial failures States in the secor | debtedness of §1 15,960 defaults, agg {in the first quarter, for $119,594,858 in the of 1924 | Western Maryland Active. | Reentrance of Western Ma | Railway common and preferred st { to activity in eonnection with the bus |ing of low-priced rails has revived ru Imors of a possible absorption with reater road. Among those carrier | prominently mentioned were the New | York Central, the Baltimore and Ohin |and more recently the Loree-Harriman | interests Recent buying in Western Maryland has been coincident with ac jof Wabash and Wheeling Erie, also alleged links in Mr consoljdation plans, reports 130 failures second quarter Office Soon to Reopen. The local office of Dean, Or Co., as well as all other office: veued to open not later tha: This is practically ess of the firm's re Mo {NEW MACK TRUCK RIGHTS ADMITTED TO TRADING NEW YORK, July 9 (&) to the new Mack Trucks | admitted to trading on t | Stock Exchange today | | Rights The commi tee on securities ruled that Mack Trucks common be quoted ex-righ July 20 and that transactions in rights { must be settied July 30. Rights ex pire August 3. The $3,000,000 15-year { serial notes of Mack Trucks ate, Inc., recently bought by te have been sold privatelys a syndic NEW YORK DAIRY PRICES NEW YORK, July 9 (#)—Butie ~<osing steady; receipts, 16,0, s; creamery, hi than e 143; do., score), 4 Weak 36 cases coasts, firsts to extra firsts, CLOTH PRICES STEADY. SW YORK, July 9 (Special).—Coi- ton goods markets were quiet again today. with few price changes of nots recorded. Print cloths were steady 915 cents for 64x60s, and 103 for S, Raw silks were fairly active prices uncl hdnl,°d from Wednesday at FOREIFN FI.\CH\NGE (Quotations- furnished by W.B. Hibbs & (o Nominal Selling check gold value. ~ _ today. London. pound $18065° s4.860 treal.” dollar 1.00 o. frane. 193 ‘a46n seels, franc i 0464 Berin “mark : 23K1 Rome. lira. . 0368 Zurich. fras 1941 Athen 0160 Madrid, peseta. 1453 Vienna. crown 000014 ' Budapest. crown 00014 Prague. crown Warsaw, zlot Copenhagen. Christiani Stockholm. NEW YORK, July 9 (#).—Foreign exchanges irregular, quotations in cents: Great Britain, demand, 4.856 : cables, 4.86 1-16; 60-day bills banke. 481%. France, demand, 4.6 cables, 4.69%. TItaly, demand, 3.67 cables, 3.68. Demanda—Be!gxu 460%; Germany, 23.80; Holland, 40.03: Norway, 17.50: Sweden, 26.80: Denmark, 20.44; Switzerland, 19.41 Spain, 14.54; Greece, 1.62%; Poland. 19 Czechoslovakia, 2.96; Jugo- slavia, 1.76; Austria, 14(: Rumania, 49%; Argentina, 40.37; Brasil, 11.1 ;‘oo“klu. 40%; Shanghai, 79; Montraal, ) 3 5 8 crown 8