Evening Star Newspaper, July 11, 1925, Page 20

FINANCIAL, - NASH AND DODGE STOCKS ADVANCE Tire Shares Also Strong as Week Ends—Weak Spots Also Crop Out. By the Associated Prese moved irregularly higher today, con- tinuation of yesterday's later ery in some stocks being counteracted by heavy week end profit taking in others. Nash Motors soared 9 points in reflection, of the declaration of the extra dividénd of $6.50, in addition to the regular quarterly dividend of $3.50, and Dodge Bros. common Quickly mounted to another new rec ord price at 291 Hosiery Stock Soars. Price movements were ther nar: row in the early tradinz. except in a few specialties pool control 5 points to a new top ert Reis moved up rubber selling around there was a renewed d tire stocks, particu reported to have Ia the raw produc only leader in t recov- at 55, and With $1 a crude pound rly of compani ge inventories of trich the 1t group. moving up 2 points to a new top at 571. Oils contlnued to disregard the advance in midcontinent crude prices, with the single exception of Midcontinent Pe- troleum, which moved up a point. Dodge Bros. preferred attained a new peak at 8313 American Express broke 3 point: United States Cast Iron Pipe fell bac 134, and Savage Arms vielded fr tionally to a new 1925 low, below 54 A jump of 7 points in Italian lira, which sold around 3.80 cents, was the only feature in the quiet foreign ex change market steady around 485% francs around 4.70 cents. and French Closing Is Irregular. With few exceptions, price ments were narrow and gener consequential. Bear tra ed in forcing sharp r issues lacking inside suppor Pools suspended operatio: move mon, which_established Just under 30, he price. Spirited bidding al Certainteed Produc hour. Jordan fining, General Baking and Founda- tion Company sold down 2 points or more. The closing was irregular. To- tal sales approximated 400,000 shares. Atlantic NEW YORK—Stoc! eral Railway Signals rise 12 points. Bonds mixed; buving interest at low ebb. Foreign exchanges firm: lira ral- lies 10 points. Cotton lower: rains Texas Sugar and coffee, holiday. ARRESTS OF DRUNKS SHOW SHARP DECLINE 819 Taken in May, as Compared With 969 in April; Slump TIs General. rregul Arrests for drunkenness last month totaled 619, a decrease of 335, com rared with the proceding month, &e cording to a report submitted to Com- missioner Fenning by Inspector Charles A. Evans, assistant superin tendent of police, today. The report contains no suggestion as to the cause for the decrease, but police be. lleve it indicates that liquor drinking is on ‘the decline. There were such arrests in 2 a total of 2,562 for the three There was a corresponding in arrests for the sale of i S last month’ totaling 65, whil there were the preceding month, and 142 in April. Decreases in ar rests for transporting and illegal p session of intoxicants also were shown in the quarterly report. A decided decrease in arrests driving automobiles while under influence of liquor, resulted, R is lieved, from the impositien of more severe sentences under the new law There were a = ast n I n pared with i The report shows a d in the number of ar of traffic regu! for speeding 3420 361 HEARING WILL Bé GIVEN TO EMPLOYMENT AGENT for the n those otaled 1 Ju Speed arrests in May, and The Commissioners have decided to grant a hearing to Thomas L. Avaunt, whose permit to operate the Fidelity Employment Agency in the Bond Building was revoked several days ago. The hearing will be before Wade H. Coombs, superintendent of i censes, at a date to be fixed later. In a petition to the Commissioners Mr. Avaunt declared he has always conducted the .employment a proper manner and in com with the regulations, and said at a loss to understand why mit had been revoked. a hearing in order to defend himself. He told the Commissioners the noti of revocation of the permit ascribed no reason for the action SHOT DURING ARGUMENT. James Robinson, colored, old, 713 Half street southwest, was shot in the breast and probably fatally wounded while heatedly arguing ahout the automobile race at the Washing- ton Speedway with James Bostick, colored, 27 years old, in front of 105 G street southwest. Police are search- ing for Bostick, who is believed to have done the shooting. Police report a numbef of persons in the gathering had been drinking preceding the quarrel. Moses Dyson, bccupant of the G street house, took the wounded youth to Emergency Hospital, where first aid was given him by Dr. McNeill. An operation was performed later by Dr. Marbury in &n effort to save Robinson’s life. ' NEW YORK DAIRY PRICES. NEW YORK, July 11 (P).—Butter ~—Firmer; receipts, 10,688 tubs. Eggs #—Irregular: receipts, 17, cases. Cheese — Steady; receipts, 82,645 pounds. State, whole milk flats fresh, Bverage run, 21%a22. TODAY'S SILVER RATES. y, NEW YORK,-July 11 (#).—Bar sil- ‘wer, 69%; Mexican dollars, 53%. CLOTH MARKET STEADY. | NEW YORK, July 11 (Special).— [Cotton cloths markets closed the fweek quietly. Print cloths were isteady at 9% cents for 64x60s and £103. for 68x72s. Raw silks declined "2 to 5 cents in a dull session. NEW® YORK, July 11.—Stock prices | believed to be under | Am Tol E Durham Hosiery soared | am Toba B (T) Rob- | 7 Demand sterling held | i | | Gen Cig Adv Rumley . Ahumada (1) Air Redue (4).. Ajax Rubber. ... | Aliis Chalm (8). Am Agricul Chm. Am Ag Chm pf Am Bosch. ... Am Can (17) Am Can pf (7 Am Chicle. . . Am Chicle pr pf. Am Drug (60c).. Am Expryss (6). Am & For Pow.. Am & F P pf (7). Am Hide & Lea. . AmIce (7)...... Am Ice pt (6). Am Internatl Am La Fran (1). Am Loco pt (7). . Am Radlator (4) Am Safety R (3) Am Ship & Com. Am S & Ref (6). AmS &R pf (T). Am Sugar. . . Am Sumatra Am Tel&Tel (9). co | Am WW&EI 1.20 nand for the | A WW&EI pf(6). Am W W 1st (7). Am Writ Pap pf. Am Zinc of. Anaconda (3). Armour Del (7). Armour Il A(2). Artloom pf (7) Asso Oil (2) Atehison (7) Atchison pf (5).. AtUBIrm& At. .. AtIGuif & WI.. Atl Gulf & WIpt | Atlantic Refing Atlas Powdr (4) Baldwin L (7)... { Balto & Ohio(5). Barnsdall A Beech Nut(2.40). Bethlehem Stl. .. Booth Fish 1st Botany Mills(A) | Briges Mfg(31) Bkl Union Gi4). Brunswick (3.60) *BuffR&P pf(6). Bush Ter de (7). Butte Cop (50¢). Caddo Central. . Cal Packing (8) Calu & A (1 Calu & Hee 1 Pacific (10) e Threshing Cent Ieather. Cent Leather pf. CRRNJ (112). Cero d Pasco (4) Certain-Teed (4) . Chandler (3).. Ches & Ohio (4. Chi & Alton. & Alton pf.. & East 111 H st 11l pt West pt. . Mil & StP... Mil& StP pf. Chi& Nwn (4). Chi Pneu T (5) ChiRT& Pac {CRI&PDI( Childs (+2.40). Chile Cop (213). Chrisler Corpn. . Chrysler 5 Cluett Peab (5). Col Fuel & Iron.. 3 & E (2.60). Solv A (4).. Cont Mot (80¢) Corn Prod (2). Corn Prod pf(7). Cub Cane Su pf. Cuban Domin. . Cuyamel Fr (4). avison Chem. & Hud (9) ige BrosClA pf (7) Durham H pf(7) Eastman (15) ton Axle (2) lec Powr & Lt. P &L pf (7) P&L full pd(7) Elec Str Hat (1) Erie 1st pf. Fairbks (2.60) rbnk M pf (8) Famous P1 (3). Famous Pirs rts Feder Lt (11.40). Fisher Body (5). ber mann (1) . ion (8) Freeport-Texas. Motor. . m Tok (3). r (8).. Gen Electric(8) . Gen Motors (6) Gen Mot pf (1) Gen Petrm (2} .. Gen Ry Sig (6) Gen Ry S pf (6). Gimbel Bros Ginter (1%). Glidden Co. Gold Dust Goodrich. . ... Goodyear pf (7). Goodyear pr (8) v Consol. . rth pt (5). Grt Wstn Su (8). ene Canan Gultf States S(5) Hanna 1st:pf. Hartman (2%) Hayes Whl (3). Havana Elec (6) . Hoe & Co A (4).. Household P (3). Houston Oil Hudson Mn 2% Hudson Mot (3). Hupp Mot (1)... Illinois Cen (7) | Indep O11 (1. Inland St(2%). .. Inland Strpf (7). Inspir Cop (50¢). Internat Agri Int Com Eng Int Nickel Int Paper. Int Tel & Tel (6) Jewel Tea Jones & Lau (7). Jordan Mot (3).. KCP & Li1st (7). Kan City South.. Kan C Sopf (4). Kansas & Gulf. . Kayser (Julius). Kelly-Spring. . Kelly-Spring pf. Kennecott (3). Keystone T & R. Kinney pf (8). Lee Tire & Rub. . Lehigh Val(3%). Lig & My B(14). Loews ine (2)... Loft. Loose--Wiles Lorillard (3) Louisiana Oil. Louis & Nsh(6). MclIntype P (1).. Mack Treks (6). Mack Trucks rts. Macy HR & Co.. Magma C (75¢).. Mallison & Co. Manila El (2%). Marland O(75¢) . Malin-Rock (1).. . 193% Open. High. Low. Close. 18% 13% 134 13% 1% 11% 1% 11% 102 101% 101% 14% 144 824 82 82% 20% 20% - 20% 57 57 BT 35% 34% 34% 1934 194% 119% 119% 126% 231 50% 119% 26% 141 31 173 60 1094 63ty 37 384 108 101% 5% 328 6% 885 130% 15% 10% 107% 32 114 17% 179% 13 85% 41 26% 41% 43% 28% THE EVENING STAR, WASHINGTON. D. (. SA’ NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. High. Low. Close. Martin-Fry (4).. 28% 284 28Y% 28% Mathieson Alka.. 80 80 80 80 Maxwell(B)ctfs. 1134 113% 112 112 Metro Ed pf (7). 113% 1141 118% 114% Metro Gpf(1.89). 204 204 204 _ 204 Mexican Seabd.. 14% 14k 14 14 Miami Cop (1)... 10% 10% 10% Mid-Continent. . 32% 32% Mid-Cont pf (7). 92 92 Midd!e States. .. 2% 2 Mis Kan & Tex. . 33 32% MK&Tpf (5).. 84 84 Missouri Pacific. 34% 34 Missourt Pac pf. 8% 78% Mont Power (4). 83% 824 Montgom Ward. 5T% Moon Mot (3) 3314 Mother Lode T5c. 7% Motor Whi 1.60. 304 Mullins Body. . 16% Munsingwr (3). 34% Murray B (12.40) 32% Nash Mot (t11). 445 Nat Biscuit (3) 72 Nat Dafry (3)... 54% Nat Dpt Stores. . 42% Nat Disttllers. .. 334 NatDistillerspf. 85 Nat Enam pf(7) 80 Nat Lead (8).... 148 Nat Lead pt (7). 118 Nat Ry Mex 2d. . 1% NO Tex &M (7). 120% N Y Air Br (4).. a4 N Y Canners(2). 448 N Y Central (7). 117% NY C & St L(6) 1234 NY NH & Hart.. 314 NY Rys pf tr cfs. 283 Norfolk South. .. 31% Norf & West(7). 127% North Am (3.40). 53% North Pac (5)... 654 Oppenheim Col. 45% Otis Steel.. ... 134 Otis Steel pf ... 73 Owens Bot (3)... 53% Pae Coast 2d pf.. 1% Pacific Gas (8).. Pacific O11 (3) Packard (11.70) . Paige Mot(1.20). Pan-Amer (6). .. Pan-Amer B (§). Pennsy R R (3). | Penn Seab Steel. Feoples Gas rta. Pere Marq (4). Phla Co (4) Phila& RC& I Phila&R C&I ct.. Phillips Pet (2). | Phoenix Hosiery. Plerce Arrow. ... Pierce Arrow pf. Pierce Oil.. Pierce Petrol. Pitts Ut pf +1.20. tum Cer (4) teel Car. Prod & Refiners, Pro& Rpf(31). | Pub Se E&G pt 6. Put Serv NJ rts. Punta Al Su (5). Pure Oil (1%)... | Radio Corp of A. dio C pf (33%). ftay Cons Cop. Reading (4). Robert Reis Remington Type Replogle Steel Rep Ir & Steel. .. nolds Sprngs 00 B (3) 2 Ins (6) Royal D (4.42%) t Joseph Ld(3). StL & SanF(5). t L Southwest t L Swn pf (5). Savage Arms. Schulte (*8) Schulte pf (8)... Seaboard Air L.. Seagrave (1.20). 16 Sears-Roebk (6). 171 hell Un (1.40).. 23% Simmons Co 45 Simms Pet (1)... 234 Sinciair Oll..... 22% Sinclair pf (8) 94 Skelly Oil. .. 27 Sloss-Sheft (6Y.. 90 South Pac (6 98% Southern Ry (5). 96% South Ry pf (5). 35% Spicer Mfg. 24 Spicer pf (8).... 108 Std Gas &EL(3). 514 td GEEL pf(4).. 534 tOUNJ (1). 43% StOlINJpf (7). Sterling Prod(4). Stew-Warner(5) Stromberg (6). . studebaker (4).. Submarine Eoat. Symington...... Symington A(2). Tennessee Cop. . TexasCo (3).... Tex Gulf S (73%) Tex & PacC& 0. Tex & Pacific. Tide Water (n). Timken R B(14). Tobac Prod (6). . Tob Prod A (7).. ‘Transcont Oll. .. Underwood (3).. Union Ol (1.80). Union O1l (1.30). Un Pacific (10).. Un Pacific pf(4) . Utd Cigar(73%). United Drug (6). Utd Fruit (10).. U S Distributing. U S Cast Iran P.. USCIPDL(T). U S Rubber. . U'S Rub 1st (8) U S Smelting(3). USSmpt (3%). U S Steel (17).... Universal Pipe. . Univer P pf (7).. Vanadium. . Va-Caro Chem Va-CaroChent B. 'Va-Caro Ch pf Vivadou. Wabash. ........ Wabash pf A(5). ‘Ward Baking B. Ward Baking A. Warren Co (4)..- Weber (4). . West Union (7) Westinghse (4) Weston Elec Weston A (2).. Wheel & L Erle ‘Wheel & L E pf White Eagle (2). White Mot (4)... White Rock (12). Wickwire ctfs. Wwillys-Overld. .. Willys-0d pf(7). Wilson & Co. .. Wilson & Co pf. Woolworth (3).. Worthn Pump. Wright Aero(1). Yellow C (2.62).. *0dd Iot. * Partly ext 803 101% 4% 474 ¥ Tl 139% 1. 75% 834 127% 218% 33% 151 91% 55% 1074 38% 45% 116 29% 66 33% 6 3k 1754 15 32% 67% 66% 157 48% 56% 132% 1% 16% 25 19% 33% 27% T2% 41% 4% 19% 102% 6 22 158 40% 28% 42% 139% 76 82 127% 5 2187 33% 144% 91 55% 107 38% 45% 116% 30% 66 33% 5% 3% 18 14% 82% 67% 65% 157 48% 56% 132% T1% 16 25% 18% 33% 27% 2% 41% 4% 19% 104% 6% 22 168% 40 28% 43 38% 116 30% 68 34 6t 3% 18 15 32% 674 66% 167 48% 6% 132% 1% 16 26 19% 33% 274 3 41% 44 19% 1044 6% 22 158% 40% 28% 43 65% 157 48 56% 132% T1% 15% 24% 1874 33% 27 T2% 41% 4% 19% 102% 6 22 158 40 28% 42% tPayable in preferred stock. Dividend rates as given in the above. table are the annual cash payments based on the fatest quarterly or half-yearly declarations. Unless _othersvise noted, extra or special dividends are not included. GINGHAM TRADE IMPROVES. NEW YORK, July 11 (#).—Indica- tion of better business in the fancy gingham lines of the Amoskeag Man. ufacturing Co. is seen in notices posted by the company, calling in al- most 2,000 employes next Monday morning. Several weaverooms that were shut down indefipitely will be reopehed. PREDICTS SUGAR SHORTAGE. NEW YORK, July 11 ().—A s shortage is foreseen by W. E. Ogilvie, president of the Cuban Cane Sugar Corporation, who has sailed for Eu- vope. The Sugar consumption of the world is now around 20,000,000 tons, he said, and production would be just over 19,000,000 tons. “I expect sugar prices- to stiffen - soon,”" added. [tra of iyear wa STRENGTH SHOWN INTREASURY BONDS Advances Feature Brief Trading Today—Other Issues. Are Heavy. BY GEORGE T. HUGHES. Special Dispatch 1o The Star. NEW YORK, July 11.—Although trading went on at as moderate as is the rule at the end of the prices hardened in the bond ma today. The better feeling was p ticularly noticeable in United Stat Government obligations. The tax-ex- empt 315, which had made a new low for the year during the week, ad vanced nearly a quarter of a point on | the initial transaction wee Bonds Gain Seven Points. Measured in 30 second which is | the unit of trading in Government bonds, the gain was seven points. The | Treasury 4s, which closed the y be- fore at 103.30, opened at 104.4, up six points. In the railroad group there were some instances of reaction, Baltimore and Ohio first 4s going below 90, and St. Paul general 41:5 below 59, St ¢ Louls-San Francisco prior lien A d4s| and Canadian Pacific 4s were down fractionally. Dodge 6s Strong. ‘The feature in the industrial I was Dodge Bros which made a new high on this movement in sym pathy with the advance in the stock United States Rubber were heavy getting below 89, notwithstanding the | highly favorable outlook for the rub.| ber industry. Convertible ofl issues | were mostly reaction Sugar | bonds were dull and little affected b the extreme weakness in the market for raw sugar. Rio Janeiro 8s of 1944 | and 1947 were both lower. | The weekly report of the member | banks of the Federal Reserve system | showed no liquidation of investment | in corporate securities, a mercial loans showed NASH MOTORS VOTES | EXTRA $6.50 DIVIDEND| Net Income of Concern for Recent | Quarter Shows Jump to | $4,193,850. ~ | By the Associated Press. NEW YORK, July 11.—Direct Nash Moto have declared an ext dividend of §6.50 a share on the com mon stock in addition to the regnlar semi-annual disbursement of Both are payable August 1 to stock record July 20. Six months a $2.50 a share was de the common. The regular quarter] payment of §1.75 on the preferred was authorized Net income for the quarter ended | May 31 jumped to $3,193.850 from $1.- 501,000 in the s 1 Net fo pre- ferred dividi on the common, $9.40 a share, against a year CHICAGO I.I7VE ST(EK ;(ARKET CHICAGO, July 11 (United States Department of Agriculture).—Ho; Receipts, 4,000 head; early trading mostly to shippers strong to 10 higher than Friday's average; bulk 190-pound averages and upward, 14.00a14.20; top, 14.25; heavy butchers upward to 14 kind averaging 180 pounds downy practically unsalable; big packers buy ing moderately at prices steady; spots, estimated holdover, weight hogs, 13.40a14.15; 13.60a14.25; light, 13:40a14.25; lights, 13.25a14.10; packing smooth and rough, 11.75212.75 ter pigs, 12.75a13.60. Cattle—Receipts, pared a week ago heavy fed steers, steady; extreme top matured steers, 13.85; best vearlings, 13.75; highest of year; fat | she stock, very uneven, choice kind | higher; bulls, 15 to 25 cents higher; | vealers mostly 1.50 up: week’s bulk prices follow: Grain-fed 11.2 a13.00; fat cows heife 7.2529.50; veal 11.5012.50; | stockers and feeders, 6.00a7.00. { Sheep—Receipts, 3,000 head, for | week 18,000 direct and 149 double| decks from feeding station: s | receipts mostly dlrect ; nominal; compared week ago, fat lambs; 35 and 50 cents lower; cull natives and sheep, steady to strong: | feeding lambs, scarce: strong to. .2 | cents higher; top for week range | lambs, 15.90; natives, 15.35; feeding lambs, 14.23; bulk prices follow: Fat range lambs, 15.00a15.90; natives, | 14.00a15. 6 feed ing lambs, J 10.50212.50; hogs, 500 head strictly choice | com 5 ewes, 6.00 CHICAGO STOCK MARKET. { CHICAGO, July 11.—Following is a report of today's sales, high, low and closing_ quotations the Chicago Stock Exchange: ES & .a onan 1o taonestotacs omsc Swife Intl=0 Un_Light & P A. et A E:xa:;: P13 650 Yellow Mig B.... 43 Total sales, 17,000 shares. POULTRY UNSETTLED. CHICAGO, July 11 (®).—Poultry —Alive, unsettled; fowls, 19a231:; broilers, 20a23; Springs, 31; rdosters, turkeys, 20; ducks, 18; geese, 13a20. GERMAN BONDS AND STOCKS. (Quoted in dollars ver million marks) id. Asked, Ger Gt (w ln) 5s 1914:18 §30.00 700.0¢ Hamburg 43¢ 1910,.... 128100 14 Ger Gt 4-5s (forced i0ar 16.00 (Quoted in dollars per thousand Ger Gen Elec 438 pre-w. 19.00 Ger Gen Elec 4%s 1919. 2 Berltn 45 -pre-war:. . . Bor 25 NomeE: ioyd Nos rman orth, German pariy sstan Consols 3. m 58 1921. ldor{ 4s i Frankfort a-m 4 tsche Ban| Darmstaedier Bank. Mercur Bank Vienna FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.) Nominal ‘Selling checks . to 4.86 London, pound. Montreal. dollar Paris. franc. Brussels. franc. lin. mark me. lira Zurich. fran ‘Athens. drach: Deseta. ienna. crown. Budapest. crown, Prague. crown. Warsaw, zloty Copenbagen. c ‘Christiania. crown Stockholm,” crown. { Dutch East 1 65 '47 | Queensiana 6s | Ua Kingm 51452 |Am Agr Chem 5s. . {Am Aer Chem 7343 | Am Chain st 6s URDAY, JULY -11, 1925. I ON NEW Yonk BONDS STOCK EXCHANGE l Received by Private Wire Direct to The Star Office. UNITED STATES BONDS. (Bales are in $1,000.) Sales. High. Low. Lib3ts... 29 10027 100 22 Lib1st4%s 2 10228 10221 Lib2d 43%s. 277 1019 1016 Lib3d 434s. 109 10124 10118 Lib 4th4%s 67 10231 102 28 US4s1944. 9! 1044 10830 US4%s'52 2 10729 10721 FOREIGN. Sales. High. Low. Close. 96% 96% 96l 96% 6% 96% 96Y% 964 96% 102% 102% 99 99 B6U B6Y 92% 92% 95 _ 98 107%7107% 1094 109% 95% 95% 841 84% 81% 81% 102% 102% 103% 103%1034% 102% 102% 101% 101% 101% 101% 103 103 103 41'% 41% 98% 98% 91 1% 98 9x% 99% 99% 99'% 99% 102% 102% 110% 110% 100% 101 100% 100% 102% 102% 1024 102% 105 93 904 994y Close. 101 22 102 21 1016 101 24 102 29 104 107 29 Argentine 6s'59. Argentine 65 A. Argentine 6s B. Argentine 7s. Austria 7s Belglum 6s. ... Belgium 6%s w Belgium 7s wi. Belgium 8s. Derne 8s. . Boltvia 8s. Bordeaux 65 Brazil 7s..... Cunada 55 1931. . Canada 58 1952. . Canada 5%s 1929 Chile 75 1943. ... Chile 85 1926. .. . Chinese Gov Ry §3. Christiania 6s. . Con Pow Japan 7s Copenharen 5%s Czecho 8s 1951 . Czecho 85 1952 L Denmari 6s. Denmark 8s. . DE153%s Mch '53. s Nov '53. 19 Dutch East 1 6s ‘62 Ei Salvador 8s '48. Framerican 74s. .. French 7s..... French T%s. .. French 8s Ger E163%4 German 7s. . | Ger Gen Elec 7s Greek Ts. .. Haiti6s ..... Hungary 65 Japanese 45 Japanese 61s. . . . Jergens U M 65 '47. Lyons 8s M ille6s....... Mexico 4510 asntd Montevideo 7s. .. .. Netheriands 6s '54. Netherlands 6s'72. | Norway 5158 wi Norway 65 1943 Norway 65 1944 v 651952, .. Norwzy 8s Orient D Pari Paris-Ly's-Med 7s. Peru 8. . *oland 6540 >oland Prague PRSTOR ~JOPe~Jor e Rio de Jan 8s 1946 Rio de Jan Ss 1947, Rio Gr Do Sul 8s. .. Stof S Paulo rets. . Seine Dept cf 7s Serbs Crot Slo 85 Sweden 5%s ot Sweden 65. .. Swiss 153 1946 Swiss Confed 8s EYOS-qups ruguay 8s 109% MISCELLANEOUS. 2 102% 9 1084 3. 1 98 Am Smit& R 1st5s 11 958 AmSmit&R6s... 11 107% Am Sug ref 6s. 33 AmT&Tcltris.. I4 AmT& Tecltrss.. AmT&Tst5s.. Am T & Taeb5ks, AmT&Tcvs.... Anaconda 1st 6s. Anaconda cv db 7 Andes Cop 7s rets Armour & Co 4%4s.. Armour Del 53s. Associated Ofl 63, Atlantic Refin 5s. 102% 103% Barnesdail s £ § Heth Steel rf 65 teth Steel 5345 Beth Steel s £ Calif Pete 634s. . Cen Leth 6545 cfs {Chile Copper 6= ah: : 1Gas & El5s.... Col Gas & El 55 sta, Commonwth P 63 Con G NY 53%s wi.. Consumers Pow bs. Cuba Cane cv 78 Cuba Canécvd 8s Denver Gas b8 Dery (DG) 7s. | Det £dison ref 6s. . Dodge wi 6s. . Duquesne Light Lmpire G & F 7%s. risk Rubber 8s Goodrich 6%s Goodyear 8s 121 Goodyear ¥s 1541 Hershey 6s 1942, Humble O & R 613 Illinots Bell 1st 53. Inter Paper 6s. . KCP&LtSsA'S: Kan G & EI'6s52.. Laclede G 5% '53. Liggeti'& Myrs 5s. Lorillard (P) 58. Louisy G & E 55 '52 Mid-Con 6%s, 40 Midvale Steel §s. Montana Pow 5s. g Tel bs 154 5544 wi. N Y Eden1st6%s N Y Teld%s. ... N Y Tel 65 ‘41 N Y Tél 6349 -North Am Ed North Am Ed 6% Nor Ohio T & L 6s. Nor States Pow 5s. Otis Steel 8s. ... Pacific Gas & El 5s. Pac T& T 6852, Pan-Amer Pete PhijaCo 5%s'38. .. Phila Co ret 63 A Plerce-Arrow 8s. Public Service 63 P Serv Gas 3345’64 Rep Ir & Steel 5 Sharon St1 H 8s Sinciatr Oil 68 Sinclair Oil 6%s. Stnelair Ol Tv. SinCOPL6s'28.. Sin Pipe Line 5s... Skelly Oil 634s.... Southwest Bell & Tenn Elec Pow 6s.. Tide Wat Ol 634s.. Toledo Edn 1st 7s.. Union Bag & P 6s. United Drug 6s. U S Rub 1st £ bs. U S Rubber 73%s. U S Smeiter 6. U S Steel s £ 5s.. Utah Pow & Lit 5s.. Va-Car Ch 738 w. . West Elec 5s. Westn Union 6%5. Westinghouse 7s. Wilson & Co 1st 6s. 99% Youngstn S & T 6s. 19 99% RAILROADS. Ann Arbor4s...... 10 73 Atchison gen 4s 90% Atlantic C el 4s. 8844 B & O gold 4s. 90 B&Ocv 4% 93% 1st bset. N 6s. 103% 102% 87% 97% T4% 91 117% 0% 101% 107% 102% 97% 1 91 . 8 105% s... 32 50% e 09 N OO NG L 110 Bk B G Gk SR e e O 96 107 112 88% 4% 100% 87 115 1004 102% 1024 los% 96 103% 89% 107 100% 106% 96% T9% 100 111% 107% © Lonla ® NED NEa~Bom R awo 5] B& B& B& B& B& o o o o B&O Sw-Div 55 ofs. 88 B&O Toledo 4s.... 2 Bkiyn Manhat 68. Canad North 6%s. . Canad Pac deb 4s Car Clinch & O 5s.. Car Clinch & O 6s. . Cent of Ga 5%s. es&Ocvi%k es & O gn 418, Cnes & 0TV 5s. Chi & Alton 3% 3 36 1 5 .9 .13 Del Hu Der & Rio G cn 4 D& Rio G Wst 5s.. 9 Erie co: "Erte col Fla E C 55 74 Gr Trul Great North 6s Great North 5. . Gr Nor! G Mob&N 5% sB 50 Havana ERL&P '50 Hud & Hud & mc-c Int Rap Tran 5 Int Rap Tran 6s. Sales. Figh. Low. 1 90% 904 5 102% 102 T6% 754 644 64y 48 48 48% 48 88% 884 48% 48 485 48% 104% 104 84% 85% 96 96 111% 111% 107 76% 84% 8% 9945 994 103% 101 874 6 105 Baw 59% 6414 6444 953 107% 95 101% 110% 101% 94 91% 76% 100 67% 71 4868 st ri 5s. 87% 9915 99 1009 874 105 84% 59 64 64% 954a 107% 95 101% 110 101% 94 91% 6% d cv 55 '35 nv 4s A . nv 4s B. nk st db 6s. . th gen 7s. Man ref 5s. . Manaj bs. . St L&NO 5. Int Rap Tran 7s. .. Int & G Nor 1st 6s. Int & G Nor aj 6s.. Iowa C Kan Cf entrf ds. ... ty Ft S 4s Kansas City S 3a Kansas City S 58 Kan Ci Lake S Lake S| Lehigh ty Term 4s..1 hore 4523, hore 45 '31. . v Market St Ry 7s. M1l E1 M StP MK& MK& MK& MK& Ry & L 58 & SSM 634s. T 1st 4s. Tlg=_ . T ad) 55 TprinssA. 31 o Pacific ger 4s. . Mo Pacine 6 Mo Pac 6s e New O r Term 4 NOT&M5%sn.. 2 N O Tex Mex 6s. YC Y Ce: n gen 334s. . nt deb 4s. NY Centrib Y Chi & St L Y Ry s 63 °65. Y State Ry 4i4s. Y W& Bos 4las. . Northe, rn Pacr16s Ore-Wash 1st rf 4s. “enn /1 gen 4%s. . Pennsyl gen 5s Pennsyl 55 '64 Pennsyl gold Pere M; arq 1st Por RL & P 65 '47. Reading gen 4}4s., Read Rio g J C 4s 51, Rio G West ci 4s RIATk &L 4%s St L IM&S 4529 Seab'd Seab d Seab'd ALd4ssta.. ALrefds.. ALadj5s.. Seab'd A L con 6s. . Sou Pa Sou Pa Southel Southe Southe Southe) cifie 45 '29. . cific ref 4s rn Ry gn rn Ry 1st 5s rn Ry 6s ct. rn Ry 6% Term Asso St L 5s. Third Ave ref 4s Third Ave adj 5s. Toledo Trac 6s Union Pac st 4s Union Pac cv 6s. Virginia Ry 1st 5 Va Ry Wabas| Wabas] Wabas| Western Md 4s.... ‘Western Pacidc 58, Whel & LErf 4%s ‘Wilkes B&E Ist 5s. Wisconsin Cent 4s. TODAY'S C CHICAGO, July &P lsts.. h 1st5s. h 2d 55 974 h 53%s 9% 67 94% - 8% 63 9% T . 11 (®).—In se. 904 102 5% 64% 48 484% 8844 48 48% 104 844 96 111% 87% 99ls 99 103% 1084 | 100% 874 105 84% | 59 64 64% 93% 107% 954 101% 110% 101% 94 91% HICAGO PRICES. creas- ingly serious reports about black rust conditions in the northwest led to a sharp . all wheat ear From Fargo to advance in wheat prices JameStown, ept durum was said to show 10 to 100 per cent of the head stems infected. Furthermore, prevailing weather was apparently of a kind to promote development of the plague. With active comm ission house buying, offerings scaree, and the Canadian government crop report construed as bullish, opening prices here 3 to 2 higher, September 1.42% to 1.4 3% and December '1.44 % to 1.44%, were followed by a rise that lifted September to 1.45 and Decem- ber to 1.4614. Corn and oats went up as a result of wheat strength. After opent ng at % to 1% higher, September 1.05% to 1.06. corn continued to climb, Sep- tember touching 1.07%. Oats started at a shade off to % up, September 46 to 46%. around ensued. In line with hogs and grain, the provision market was firmer. WHEAT— July . prember be: RN- BALTIMORE, Ma., Open. 147 O ¥ ¥4 1ES 2 e g 233 355 253 g% i oD i 25 362 P s L DAIRY PRODUCTS. July 11 Gains all e 4 o 4 B e W (Spe- cial).—Live poultry—Spring chickens, pound, hens, roosters, ducks, Eggs—Receipts, 38a40; Leghorns, 21a29; Leghorns, 21a23; 16; ducks, 15a2 20a25; pigeons; pair, 2! 22a30; old ; old 395 cases; native and nearby, firsts, doazen, offered at 32. Butter—Good to fancy creamery, SHORT-TERM 39a44; prints, 44a46; I ladles, store packed, 31; dairy prints, rolls, RS S A 31a33; process butter, SECURITIES. (Quotations furnished by Redmond & Co.) A P. & Lt. Co. 6s 191 ARrel: o Kage7eudds? 1 Bil o 52 SBE 5 1 L oy 3 S ® i b SR joit =58 233 enao0s; b b i 585900000 = FEFRLTETEERETITEE FETFEEF gotzen ot oon. Offer. 103 Bo050! SE22ISX 2333322 28E: oo o et i ™~ 5 5500000050! SR ECRES ..u.. S 3 N i s 43 FINANC NEW BUYING PLAN SGORED BY BABSON Hand - to - Mouth Method Would Not Cover Needs in Emergencies. BY ROGER W. BABSON. Special Dispatch to The Star. WELLESLEY HILL July 11.— The apparent inconsistency the present business situation is primarily to the fact that a major of manufacturers and merchants ha gone on a hand-to-mouth buying There are many reasons for change. The primary one is the fact that many business men lost such sums on their inventories in 1921 that they are not going to be caught such a predicament again. Further more, most commodities have been declining for some tin manufacturers and merchants have been buying on a_hand-to-mouth basis have thus far been the most successful. Tn most cases it has easy enough to get goods, the longer one waited could buy. This has encour. to-mouth buying the same stock market encourages short sellin Thinks Method Risky. It is perfectly safe at times to the stock market short, provided are the only one whe is doing it! more people, however, who ind this short selling, the more r becomes. If too many perso: the stock market short, there ops a corner, and all are given rible licking. The same principle ap plies to hand-to-mouth buying. In graduvally declining commodity 1 ket, such we have been some time, a certain number of many facturers and merchants can do by following a hand-to-mouth y If. however, too many people ir in_this policy there may be t Hand-to-mouth buving is safe vided no unforeseen event hap to disturb the equilibrium by sudd either cutting off the supply : the demand. But if s unforeseen events that at onc then there is trouble. Among t unforeseen events that at once ¢ to my mind are the following in ! | this | devel Weather and Style Changes. As 1 said many times weather is a great factor In retai trade. and hence a great factor in industries. Ninety-five per cent the merchants today prepare for only normal weather They count certain number of warm days certain number of cold days: a cer number of rainy days and a ce number of fair day They buy their goods, either sciously or unconsciously. according to the normal weather conditions with no reserves at all on hand. This was always more or less true, but under the hand-to-mouth sysiem merchants carry almost no Hence, when an abr in the weather, such abnormaily hot Summer o severe Winter, they with no stoek and are obl customers away. Market Stampede Possible. The same general princi to style changes. The pubi that the manufacturers ma change the styles. Of course, they do attempt to do this. but they oftel fail. In practice th around to the jobbe: The jobbers send out their s with the samples to try out chants, and the merha out the consumers out what styles and colo be sold and plan accordinzly tofore merchants have ordered enough to carry them through the entire sea son, but now they are not doing this Instead they are depen the jobber to replenish their stock in the middie of the season, if necess Under normal conditions this be all right, but any marked in: in the demand would cause pede in the market for such goods. Unforeseen Complications. Affairs in our country much settled, but are still very unsettled. not only to Europ tries as well. Con very chaotic: the F with the Mohammedans Africa; Russia is e appl thin conditions Th ot abroad t war orthern h of 3 countries we are absolutely dependent for certain products. We are dependent sill on China for tea, on the F East for rubber. In past days manu facturers bought big stocks of these products, sufficient for one or two vears, if necessary. without further impertations. supply of certain foreign products were to be suddenly decreased, there upon Japan for . 50 that those | these | Today, however, if the | 1AL. INTEREST RATE MOVEMENTS VARY Important Changes Have Oc- curred Since Reserve Sys- tem Was Incepted. . SHAEFFER. Srstovs BY CHAS. ¥ Important chan |have taken § the Federal ited by W sistant agent at Reserve Banl lic today ent rates The sprea {long and she fcities We { he sints | have been j ne of fur i rathe {it is to thar ie | n for! Reasons for (hangos con- | | the wvernt Former Settlements Slow r high rates whe are pretty | applies ; it {tem we {and no s tes as ¢ he e which kes n experie sort bar per j cur { pro | shall ever { panic of t Quarterly Dividend Voted, Directors of ency | ! | the quarte |able on Augu | Ju would be a famine in the market in | a few months Urges Buying of More Goods. Events to cause a stampede in cer- tain imported goods are liable to happen at any time. Therefore, I strongly advise manufacturers and merchants to keep in stock a good supply of imported goods. Not onl; is it a good policy to prepare against foreign political trousebles, but there is not the same tendency for imported goods to fecline in price as for domestic goods. Owing to the steady decline in ex-| change and unemployment abroad, American buyers have thus far been able continually to force down foreign prices. This, however, will not con tinue forever, and the time is fas approaching when exchange may turn | in the opposite direction and when there may be more unemployment in the United States than in Europe. Medial Position Advised. Manufacturers and meérct that of the speculator and tha hand-to-mouth buyer. Of course, thi needs an understanding of funda- mental conditions and the trend of commodities, prices, supply and de- mand, amount produced and sumed. There are, how everal relinble statistical sérvices which fur- nish this information, making it avall- able to all at a small cost. In conclusion let me © that this hand-to-mouth policy must -be most carefully watched by every investo especially while money rates are nov so easy. The declaration of peace a | few years ago caused business men to be caught with great inventories, due to which corporations and investors lost great sums of money. Today an unforeseen event may cause almost as | great losses when these same people find themselves with no reserve sup- ply of raw materials or merchandise. Therefore this policy of hand-to- mouth buying is becoming a danger ous factor in the stock market as well ! as in general business. Of course, none of these things has yet begun to show on the surface. Business continues around normal, the Babson chart showing it at 2 per cent above normal. TREASURY CERTIFICATES. (Quotations turnished by Redmand & Co.) ] 235 2% ‘4“2- : 18 353 March 15. 19 §s'° June 15. 1028 e T 1t 15 E%t.l 975 - 15,1625, 5323 s g *-'-‘."? o Gy a %aid e o kT 192 41s Dee. 15, 1927 15 b4 £35353: nts | should take a medial position between | of the | con- | statemen 181,900,000, { capital | has been i ilures Reported. ! Braa: pila L | falure: t {week ended J {at 304, ! before ana week last year GRAIN AND PROVISIONS. BALTIMORE, Md., July 11 (Spe- 2.00a: lett! Apples, 11.00a2.00 blackberries, quart berries, quart, 1 1.50a3.00; cant 14.50; watermelons, each huckle- sushel Selling Prices at Noon. Wheat—No. 2 red Winter domestic, no quotations Winter. domestic, spot, 1.41; No. 3 , No quotations. s w at wharf at 34 and 1.35. red Winte; ; No. 4, 1.8 spot. in:a No. 5, { Corn—Cobb, new, yellow {and 6.50 nominal, per yellow, No. 2, 1.26. Sales, none. No. spot, § 1.00a1.15 rye, spot, no quotation. Hay—Receipts, 102 tons. There is a comparative scarcity on spot of the better grades of old timothy and on old choice light clover mixed hay and the market on such types is firm. Low grades of mixed and poor clover hay are draggy and hard to move at ir- regular values. Quotatjons jpday—No. 2 timothy, 18.50219.00; Nd” 3 timothy, 16.00a17.50 No. 1 light clover mixed, 17.00a17 No. 1 clover mixed, 16.50a17.00; clover mixed, 14.00a15.00. Straw—No. 1 wheat, 12.50a13.00 per tom; No. 1 oat, 12.00a13.00; No. No.