Evening Star Newspaper, July 18, 1925, Page 10

[} * F 10 INANCIAL. STOCKS ADVANCE ON TRADE NEWS, Market Winds Up Week With Many New Tops—American Can Goes Above 208. By the Assoc NEW YORK of general business weekly trade dictions that tndu £ood show buoyancy « ated Prese ansion the pre s earnings by July 18.—E; 18 shown by reviews, optimisti half would uphold the fal cc ed market lead 1 with High | were achieved by shares, with f group str New New higl mafiy inv standin, provided merch: deper records nent banks-Mor eral Railwa exchar ing NEW Am 20875 Government iss YOI Stocks, stron to record hig FREIGHT TRA.FFIC AHEAD OF LAST YEAR'S TOTALS 8pecial Dispatch to NEW YORK, rail frei o weeks now the correspc ord vear 1 E e ¢ the ber ue 15 below “While | compiled by the Amer OILS, STEELS, COPPERS r service division of Association TURN MORE ACTIVE| NEW YORK. July 18 tendencies predominate week market, wh 1cteriz - a marked publi icipation 1 revival of spec oil and r sond worked the money due to new $75.000,000 loan (#).—Bullish was ch: expansion in prices easing of | probably ed by the was the government which an BUYS BALTIMORE PLANT. W YORK, Ju ). —; Co. plant at Balti- ufactures store fix nsaction involved about more, tures. The $1,000,000. ‘WEEKLY BANK REPORT. NEW YoOr July 18 (#).—The condition of clearing house d trust companies for the excess reserve of $25 1 increase in re compared with TODAY'S SILVER RATES. NEW YORK, July 18 (#).—Bar sil ver, 693;: Mexican dollars, 533%. CLOTH MARKET ACTIVE. NEW YORK, July 18 (Special). ued active and 1 there wera no quence, 64x60 hs being quoted at nd 101,. The new with prices unchanged. FISHER BODY I‘IXPANDS. NEW YORK, July 18 (#).- he Fisher Body rporation has bought the Fleetwo Metal Body Co. of Fleetwood The purchase not m public. Shops will ntai in’ Fleetwood was quiet FIRM BOOSTS EARNINGS. NEW YORK. July 18 (#).—Busi- ness of the ational Distillers’ Prod- vets Corporation is running ahead of t vear, with indications th ales this year will reach almost 16,000,000 gallons. Earnings have been bene- fited by the recent 2-cent-a-gallon advance in alcohol pr GERMAN BONDS AND STOCKS. (Quoted in dollars per milli In) 1914-18 amburg 4338 1919 Ger Gt 4-58 {forced 10 TQuoted in d Gen E Gen ¥ Gar Gt ni 10200 thousand i ,xn 00 B3.00 2500 14 50 40.00 20,00 CHIC \(EI) STOCK CHI July 18 report MARKET. Following is a high, low and the Chicago 1599 Ln Lt & = rl loy mn. Total sales, Iready reported and the | this | price | be | AbItibi Pow (4). Ad Rumley pf(3) 53' Afr Reduc (4)... 105% Ajax Rubber. ... Alaska Junea. .. Allled Chem (4). Allis Chalm (8). Am Agricul Chm. Am Ag Chm pf.. Am Bosch. . Am Can (7). Am Car&Fay lfl) Am Chicle. . Am & For Pow. Am & F P of (1). Am Hide & Lea Am Ice (7) Am Internatl. Am Lz Fran (1). Am Linseed. . .. Am Linsd “z‘/: Am Loco (118). Am Radiator (4) Am Safety R (3) | Am Ship & Com S & Ref (8) | 4 &R pf (7). | Am St Fays 3). 1 A WWREL pr.m W W st (7). Woolen. . n Wool nf Writ Pa m Zing vf. Anaconda (3). Ann Arbor. Ann Arbor pf... »anfels. . Armour H1 A(2). mour Dei (7). Cons & Co. Asso Of1 Atehison ( ntic C L(18) s Tack tin-Nichols. ldwin L (7)... 1to & Ohlo(5). 1& Oh pf (4).. Beech Nut(2. \iehem St 3kl Unlon G (4) . Brunswick (3.607 ns Bro (10).. Add Ma (3). h Terminal. . Sush | Butte C | Butte & 1 Packing (6) 1Pete (1%) Nahan Zine. .- lu& A (12%). se Thresh p eather | Cent Leather pt. | Century Rib (2 | Chi | chik | chi { Chi& Nwn (4) ... Chi & Nw pf (7). Chi Pneu T (5).. Chi R1& Pac | Chi Yeliow C (4) i Chnas (+2.40) Chile Cop (2%) - | Chrysler Corpn | Chrysier prA(8) | Cluett Peab (5). | Coca-Cota (1) (o] Fuel & Iron. Col G & E (2.60). Com Solv A (4).. | Com Solv B | Congoleum (2) | consol Cigar. | Con Cig pf 183, Consol Distribut. | Consol Gas (5).. | Cont Can (4) | Cont Insur (6).. Cont Mot (80c) . “orn Prod (2). | Cruetble stt [ON | Cub Cane Su pt.. | Cub Am Zug (3). | Cuban Domin. “udahav Pkg @ hman's (3) . Cuyamel Fr ‘4)4 Daniel Boone. | Davison Chem De Beers (88¢).. Deere&Co pf(5). Del & Hud (8) Detroit Ed (8) Dodge Bros Cl Dodge pf (7). Dome Mines (2). Doug Pectin (1). Dupont (10). ... DuPont deb (§). stman (13)... Eaton Axle (2).. Elec Powr & Lit EIP&LpL(D.. E P&L pf 40%pd Elec Str Bat (4). End-John (5)..- ErleRR... . Erie 1st pf Fairbks (2.60)... Famous P1 (8).. Famous Pirsrts. Feder Lt (11.40). | Fisher Body (5). Fisk Rubber. .. . sk R 1st pf Flelschmann(4). Foundation (8) Freeport-Texas. n ATC pf (7). Gen Asphalt. ... | Gen Cigar (3)... | Gen Electric(8) . Gen El spec 60c.. Gen Motors (6) Gen Mot pf (7). Gen P etnn 2). Gen Ry (6). {Gen Ry SDf (6). | Ginter (1%) Glidden Co 1 Gold Dust. | Goodrich Goodrich pf (7). Goodyear pf (7). Goodyear pr (8) Grt North pf (5). Gt Nor Ore (1).. Grt Wstn Su (8). Greene Canan... | Gulf States §(5) Hartman (2%). Havana Elec (6). Hayes Whl (3) .. Household P (3). Hudson Mn 2% ... Hudson Mot (3). | Hupp Mot (1)... Iliinois Cen (7).. Indep O1l (1). *Ingersol R(8). Inland St(2%)- Inspir Cop (50¢) . Interb Rap Tr Internat Agri... Int Bus Mac (8). Int Cement (4).. Int Com Eng (2). Internat Har(6) Int Mer Marine Int Nickel Inter Nick pf(6). Int Paper. Intl Paper pf(7). int Ry Cent A Int Shoe (5) . . Int Tel & Tel (6) L 22 Intertype (11%). 20% Jones Bros Tea.. 18% Jordan Mot (3).. 397 Kan City South.. 32% Kayser (Jullus). 32% Keily-Sprin; 20 Kennecott (3) 54 98 \ 98 149' 149% 125 125% 28% 28% 83 83 15% 20 180% 100 106 | Replog | Tobac u o u THE EVENING Koystone T & R. Kinney pf (8) Kresge Dep S(4) Lee Tire & Rub. . Lehigh Val(334) Liggett & M(t4). Lig & My B(t4). Loews Ing (2). Loft Lorillard (3). Lortllard pf (7). Louisiana Ol. .. Louis & Nsh(8). Ludlum (2).. McCro B (1.60).. Mack Treks (6) . Mack Trucks rts, Macy H R & Co Magma C (75¢) Mallison & Co. Man Elev gtd. ... Man Emd g (5). Maracaibo Ofl. .. Marland O(75¢). Malin-Rock (1). Martin-Pry (4).. Mathieson Alka. Maxwell(A)ctfs. Maxwell(B)ctfs. May Dept St(5). Miami Cop (1). Mid-Continent. Middle States. Mis Kan & Tex MK&T pf (5).. Missourt Pacific. Missourt Pac pf. Mont Power (4). Montgom Ward.. Moon Mot (3) Mother Lode 75¢. Motor Wh11.60.. Nat Acme (sta). Nat Biscult (3).. at Cloak (4) . Dairy (3). at Dpt Stores. . Nat D St 1st (7). at Ry Mex 2d.. Nat Supply (3) Nevada Copper Y Alr Br (). YAIrBrA(4). N Y Canners(2). N Y Central (7). NYC&StLpt(6). NY NH & Hart. . NY On & Wn(1). N Y Shipbld (2). Norfolk South. Norf & West(7). North Am (3.40). North Pac (5). Orpheum (1.80)." Otis Elevat (6) Otis Steel. . Owens Bot (3). Pacific Gas (8) | Pacific o1l (3). Packard (11.70). Paige Mot(1.20). | Pan-Amer (6). .. | Pan-Amer B (6). Park & Tiiford. . Penick & Ford. . Pennsy R R (3). Penn Seab Steel. Peoples Gas (8). Phia Co (4).. Phila& RC&T Phllip Morris Phiilips Pet (2). Phoenix Hosiery. Plerce Arrow Plerce Arrow pe. Pierce-A prior 8. Plerce Ofl. Plerce Petrol Pitts Ut pf $1.20. Pitts & West Fostum Cer (4).. Pub Ser NJ (5). Put Serv NJ rts. Pub S NJ pf (7). Pullman Co (8).. Punta Al Su (5). Pure Ol (1%)... Pure O1l pf (8) Radio Corp of A. Radio C pf (3%). Ry Stl Spg (8). Ray Cous Cop. Reading (4)..... Reacing 1st (2). Reading 2d (2) Robt Reis & Remington Type Steel. .. Rep Ir & Steel ... Repnolds Sprngs Rey Too B (3)... Rossia Ins (6). .. Royad D (4.42%) St Joseph Ld(2). StL&SanF(6). St L Southwest. . | savage Arms | Schuilte (*8). Schulte rights Seaboard Air L Seagrave (1.20). ars-Roebk (6). hattuck FG(2). hell Trad(2.06) . hell Un (1.40) Simmons Co (2). | Stmmons pt (7). Sinclair Ofl. Sinclair pf (8)... Skelly Oil. . Sloss-Sheff (6) Sloss-Shf pf ( South Pac (6, Southern Ry (5). South Ry pf (5). Spicer Mfg...... Std Gas & E1(3). Std G&EI I (4).. St Ol Calif (2) StOIINJ (1) StOi NJ pf (7). std Plate Glass. . Sterling Prod(4). Stew-Warner(5) Studebaker (4).. Submarine Boat. Superior Ofl. ... Symington. Tennessee Cop. Texas Co (3) . Tex Gulf S (1%) Tex & PacC& 0. Tex & Pacific. ... *Tex Pac Ld Tr.. Third Avenue Tide Water (n).. Timkep R B(14). rod (6) Tob Prod A (7).. Transcont Oil. Cnderwood (3)*.~ Union O1l (1.30) . Union Ol (1.80). Un Paclfic (10) Un Pacific pf(4). Un Tank Car(5). Utd Alloy Steel.. Utd Clgar(13%). Utd Fruit (10) Utd Ry Invest... U S Cast Iron P.. USCIPpPL (7). U S Distributing. U S Hoff (2)..... S Ind Aleohol S Realty (8) S Rubber. .. U S Rub 1st (8).. U S Steel (7). U S Tob pf (7) Universal Pipe Univer P ptf (7). vanadfum (2). Va-Caro Chem. Va-Caro Ch pf. Va Ry & Power. ‘Wabash. ... Wabash pf ‘Ward Baking A. . ‘Ward Baking B.. ‘Warren Co (4) ‘West Pen (4) W PaPow pf(7). West Maryland. | West Md 2d pf | Westn Pac (5a).. West Union (7). West Air Br (6). Westinghse (4). | Weston Elec. Weston A (2). Wheel & L Erle.. Wheel & LE pf.. White Eagle (2). White Mot (4)... White Rock (12). Wickwire ctfs. .. Willys-Overld. .. Willys-0d pf(7). Open. High. 344 110% 35% 260 1874s 14% 139% 63 108% . 119% L 111 34% 2% NEW YORK STOCK EXCHANGE | Received by Private Wire Direct to The Star Office. Low 34 97te 36% 174 783 86h 3% 9T 115 18 1104% 85% 96% 186% 147y 86 4214 81's 115 4 108% 115% 105 384 2 325% B4% 337 80= 604 24% 24 191 19 42 394 28% 28% 73% 73 41 40w 3% 3% 20 19% 10415 104 -~ Close, 314 7% 3474 115 18 110% N 96% 18815 15 28 8143 115 109% 1154 10% JArregular Changes of Minor it United States obli | and | 000 | Ju jit {and derived \wnzm Aero(1). STAR, WASHINGTO BONDS GO LOWER INTRADING TODAY Nature Noted During Two- Hour Session. BY GEORGE T. HUGHE! Special Dispatch to The Star NEW YORK, July 8.-~The trend in high-grade bonds was stll down- ward today, although price changes were small and trading was on a re- stricted sale. Among the United States Govern- ment obligations Liberty 31s sold at practically the low of the year. The second 4348 got down to 101, against a high of 101.19. Treasury 4%s sold down a quarter of a point directly at the opening. Quotations Irregular. Railroad bonds of the savings bank s which were lower included New York Central 68, Union Pacific 48 and Southern Pacific refunding 4s. There has been unusually heavy selling in the last named all week. Higher yielding bonds were more ir- egular and there were a few points of strength, one being Anaconda 63, above 101. I"or a long time this bond has been selling below bonds of a com- parable investment rating. Brooklyn Manhattan Transit 6s seemed to be in supply notwithstanding the improve- ment in the company’s position. Denver and Rio € nde Western 5s > prominent, adding to the gains earlier in the week. United States Rubher 7igs, the short-term is- sue, equaled their high of the year. Foreign Bonds Steady. Foreign bonds were steady. A favor- le reception was predicted for the 100,000 Australian loan to be of- fered Monday. Significant of condi- tions in the bond market was the re- port of the member banks of the Fed- eral Reserve system showing decrease for the weel in investments, other ions, of $13,- 000,000, against an increase for the year of $431,000,000. $40,000,000 MERGER OF OIL FIRMS TALKED NEW YORK, July 18 (®).—Reports are current in the financial district mong the oil trade that an oil merger involving more than $40,000,- nd the combination of 300,000 acres of oil lands, with more than 600 miles of pipe lines, is to be effected during-the next day or two. The companies mentioned in the re- ports as being about to merge are the Independent Oil and Co., the Waite-Phillips Co., the Texahoma Ol C and several smaller concerns. It was also said that W. C. Durant, a r of Independent Oil and orge J. Whelan, tobacco taking part in the merger discussio S BALTIMOBE PRODUCE BALTIMORE, Md., July 18 (Spe- Vew potatoes, barrel, 2.00a5.00; beans, bushel, 50a1.10; 100, 3.0024.00; cabbage, 100, 6.00 | carrots, 100, 00a5.00; corn, . 10a30; cucumbers, basket, 40a50: eggplants, basket, 1.50; lettuce, bushel, 50a1.00; peas, bushel, pers, bushel, 1.7 5 2.0043.00; squash, matoes, hamper, 1.00a1.50; crate, .00, Apples, barrel, 1.5024.00; bushel, 1.75; pineapples, crate, peaches, bushel, 2.00a3.00; basket, 50 intaloupes. 3.00; blac y\hf‘rrlp'« quart, kleberrie: quart, 12a18; pint, 8al5; quart, 18a20; each, 30a to- 50a 50a raspberrie watermelons, DAIRY PRODUCTS BALTIMORE, July 18 (Special).— Live poultry—Spring chickens, pound, Leghorns, 23a30; old hens, 2la | Leghorns, 21a22; old roosters. 16: | young ducks, 20a25. pigeon Egg: and nearb; 54 cases; native ‘firsts, dozen offered at 42 Butter—Good to fan creamer: pound, 40a44l; prints, 45a47; ladles, | 34a35; store packed, 30u3l} dairy | prints, 31a33; rolls, 31a33; process but- MINE DIVIDEND VOTED. The DeBeers Consolidated Mines has declared a dividend of 97 cents on the Central Union Trust Co. cer- tificates for the American shares, | payable August 3 to holders of record EVERYMAN'S INVESTMENTS BY GEORGE T. HUGHES. THE PERSONAL INVENTORY. One of the large investment bank- ing houses recently published what termed a “self-analysis chart for the determination of investment policy.” The design was to enumer- ate the facts which the investment banker ought to know about the af- fairs of his clients in order intelll- gently to advise them as to the pur- chase of securities. These facts were comprised under nine headings as fol- lows: Age Married or single and number of dependents. 3. Approximate present income from what sources and approximate annual surplus. 4. Assets tabulated as to stocks, bonds_and miscellaneous. 5. Insurance. 6. Liabilities, including mortgages, notes, etc. 7. Tax position, including present income tax and probable inheritance tax. 8. Plans which might affect pur- chase, such as intention to buy a home or a business, education of one's children or expectations to retire at a certain age, 9. Financial objective—that {s to v, what one estimates will be suffi- cient capital if properly invested to vield income for the investor's need after he has passed the productive period. This is a very comprehensive and useful summary. It would be inter- esting to ask yourself these questions regardless of your immediate inten- tion as to purchasing Securities. One which is too often neglected by bust- ness men in their own operations is that of number 2. A man actively en- gaged in trade or industry may prop- erly assume risks in his investments which would be entirely unsuitable, if not perilous, to his family if he were suddenly taken away from them. This is a subject to which serious atten- tion should be given. (Copyright. 1925 — 161 163 161 163 415 41% 41% 4l 314 31% 30% 3% 62 52 62 52 43% 43% 431 43y 1 U% 0% | Woolworth (3). | Worthn Pump. Wwrigley (13%).. Yellow C (2.52).. Youngstown (4). tPayable in preferred given in above |AmT& Tcltrs | Barnesdai s £ 38 sre the annus) payments .based latest quarterly or half-yearly decla Unless otherwiss noted,” extra or epecl dividends are uot incloded. DIGC., I NEW YORK BONDS STOCK EXCHANGEI Received by Private Wire Dircct to The Star Office. UNITED STATES BON o in $1,000.) Sales. High' Low. 100 24 10213 1014 6 101 18 102 20 103 18 107 15 FOREIGN. Lib3% Lib st 4% Lib2d 4% Lib3d 4% Lib4th4%s US4s1944. US4%sn’s2 102 1. 101 101 1 102 1 103 1 100 20 1076 Ds. SATURDAY, JULY 18, 1925 Close. 100 24 3 10213 1012 7 10117 6 102 20 7 103 18 10715 Sales. High. Low. Close 9644 96% 103 1 994 99% Argentine 65 A 23 Argentine 63 47 Argentine 7Ts. 9 Austria 7s 5 Bank of Japan 6s.. 3 Belgium 6s. Belgium 6%s w1 Belgium 7s wi. Belglum T%s Bolivia 83 Brazil 7, RBrazil §s Canada 5%s 1929. . Chile 75 1943, Chile 85 1941. Chinese Gov Ry 6s. Christiania s Christiania 8s. . ... Con Pow Japan 7s. Copenhagen 6%s Cuba 5%s. . Czecho 85 1951. . Czecho 8s 1352 et. Danish Munic 88 B. Denmark 6s - Denmark 8s. - DEI6%s Nov '63. Dutch East I 6847 Dutch East T 6562, Ei Salvador 85 '48.. Finlands 7s. . Framerican 7%s French 7s... French 7%s. French 8s German 7s Ger Gen Elec 7 Greek 7s. Haiti 63 . g Holland-Amer 6s. . Hungary 6%s. Japanese 61%s..... Jergens U M 63 "47. Lyousés....... Montevideo 7 B Netherlands 6s°54. Netherlands 6s '72. Nord 6%s........ Norway 5%s wi. Norway 63 1943. Norway 65 1944 . Norway 68 1952. Norwzy 8s A Paris-Ly’s-Med 6a. Paris-Ly's-Med 7s. Paris Orleans 7s Peru 8s. . Poland 65 '40. Poland 8550 wi. Queensland 6s. . Queensland 7s..... Rio de Jan 85 1946. Rio de Jan 8s 1947. Rio Gr Do Sul 8s... Stof § Paulo rets. . Seine Dept cf Ts. .. Serbs Crot Slo 8s. . Sweden 5345 ct Swiss 5148 1946 Swiss Confed 8. | Ud Kingm 5145 °25. Ud Kingm 514837, Ud Steam Copen 6s 10 MISCELLANEOUS. Am Agr Chem 7%s 22 103% 1 Am Chainsf6s'33. 2 984 Am Repub deb 6s. . 97% Am Smit & R 1st 55 989 Am Sug ref 6 102% 1 AmT & Teltr 97% 101% % 103% 1344 61 101% 102 98 9414 102% 9% 106 103 95 93% 99% 100% 96 108% 1084% 102 80% 103% AmT&Tst5s. Am T & T deb 5%s. AmT&Tcves. ... Am Writ Paper 6s. 22 Anaconda 1st 6s... Anaconda cv db 7s. Andes Cop Ts rets. Armour Del 5%s Assoclated Oil 6s.. Atlantic Refin 58 Eell Tel Pa 5s . Beth Steel rf 58 Beth Steel 8 £ 6; Brier H St 1st 5%3 Brooklyn Union bs. Bush T Bldg 5860 Calif Pete 6%s Chile Copper 2. ... Commonwth P 6s.. Con Coal Md 1st 5. Con G NY 5%s wi. Consumers Pow 5s. Cuba Canecvads Dery (DG) 7 Det Edison ref Dodge w! 6s. Donner Steel 7s. Du Pont de N 7%s. Duquesne Light 63 Est Cuba Sug 7%s. 18 Empire G & F 73| Fisk Rubber Goodrich §%s. Goodyear 83 1921.. Goodyear 85 1941. . Hershey 53%s wi Hershey 63 1942. Humble G& R § Tllinois Steel 4}48. . Int Mer Marine 6s. Inter Paper 58'47.. Inter Paper 63..... KCP&Lt6sA'S2 Kan G & El 65 '62.. Kelly-Spring Lackawa S 55 Laclede G 5%s '53. Liggett & Myrs 5. Lortllard (P) 6. Manati Sug sf 7%s. Mid-Con 63%s, '40.. Midvale Steei 5s. .. Mor's & Co 1st 4% N Y Ed bs'44 wi N Y Eden st NYG EL H&P 43 NYG EL H& P 5: NY Tel 4%s. . NY Tel 6s'49. North Am Ed 6%s. Nor Ohlo T & L 6s. Nor States Pow 5s. Otis Steel T%s. Otis Steel 8s. Pacific Gas & EL bs. Pac T & T 65’52 Pan-Amer Pete 65 Pau-Amer Pete 7s. Phila Co 5%s'38 Phila Coref 63 A.. Plerce-Arrow 8s... 12 Public Service . 20 P ServGas5%s’s9 5 P ServGas5%s’64 2 Rep Ir & Steel 5s.. Sharon St1 H 83. Sinclalr g:} Sinclair Sin COPL 6s’28.. 56 Sin Pipe Line & Skelly Oil 8%s. Southwest Bell 5. Tenn Elec Pow 6t Tide Wat Ol 6% Union Bag & P 6s.. United Drug 6s. ... U S Rub 1strf 58.. U S Rubber 7%s... U S Steel s £58.... Va-Car Chem 7s. .. Va-Car Ch 7%S w. Warner Sug 7s "41. West Elec b8 5 ‘Westn Unlon 6% Westinghouse 7s. . Willys-Ov 6%8 33 Wilson & Co 1st Wilson & Co cv 6 Winchester A 7% Youngstn S& T 6 RAILROADS, 3% 90 Atiantic C L 1st 48 a3 Atiantic C L 7s 108 1 89% 93 90% 101% 1 103% 1 102 1 86% B&O Sw Div 5scfr 22 7% B & O Toledo 4: Bklyn Manhat Buff R & Pitt 4%s. 87 96% 95% 02% 9944 99% 8614 0315 96% 95% 103 9915 99% 981~ 97% 984 08 894 92% 90% 0L 0% 02 86% 97 99 72 102 99% 734 89% 93 108 89% 93 90% 101 103% 102 86% 97 Tk THT Tan 90% 90% 904 87 ! Sales. High. Low. Close. 165 11615 116% 201 80% B0Y | 107% 1074 107t | 102% 102% 102% | 102% 103% 88t BBi 97% 97 105 1054 49 481 102 102 8 84 TB% T5% 6115 6 6% 47 o 88 4T% 96 Canad North 7s. Canad Pac deb 4s. . Car Clinch & O 6s... Centof Ga b%s. Cent of Ga 6s. . Central Pacific 4s. . Ches & O cv 4%s. Ches & O cv 55 Chi & Alton 3% ChiB& Q1strf CB& Q-1 3Ys. Chi&EIgnbs Chi Great West 4s. CM & Puget Sd 4s. CM&StPdL4s CM&StPevil CM&StPen4is. CM&StPrf4ts. Chi & N W ref 68 Ch1& NW7s. Chi Rys bs. ChITH&SEbs ChiUn Sta 448 CCC&StLbs..... CCC&StLrf6sA. Cleve Term 514s.. . C&S1stas 29, ... Colo & Sou 4345, Cuba R R bs. Den & Rio G en 4s. D & Rio G Wst b srie gen 4 Erie conv 45 D. Erie conv ext 7s. .. Erte Genessee R 63 Fla E C 53 °74. Gr Trunk sf db 6s. Grand Trunk 7 Great North 5s Great North 5%s. . Gr North gen 7s. G Mob&N 5% 3B 50 Havana ERL&P '50 Hud & Man ref 5 Hud & Man aj 58 Il Central 53s. Int Rap Tran 5s. ... Int Rap Tr 55 stpd. Int Rap Tran 6s. Int & G Nor aj 6s. . Kan City Ft S 43 Kansas City S 5 Lake Shore 45 '28.. Lehigh Valcn 4s. . Lehigh Val 5s 2003 Louis & N unt 4s. .. Louis & Nash 7s. Market St Ry 7s M1l El Ry & L 58 M&StLrf exbs.. MK&T4s 2 MK&Tadj5s.... MK&TprinssA. o Pacific gen 4 Mo-Pac 5s 1926. Mo Pacinic 68 Mo Pac 6s cfs. Montrl Tm 1st § ssau I Ry 4s'57 OT&DMb%S. Y Cen gen 334s.. Y Cent 4s98. .. 46% Centribs.... Y Cent deb 6s. . YChi & StL5%s ¢ NYC&StLés New Havd 4s" New Havencd 6 NY Rys 65 '65. orfolk & W en orfolk & W cv 6s. orthern Pac 3s... |ed 140 be: Vorthern Pac 4s. Northern Pacr 1 68 Ore & Calif 1st 5 Ore Short L ret 4 Ore-Wash 18t rf 4». Pennsyl gen 4% Pennsyl gen 5s. Pennsyl 68 '64. | Pennsyl gold 7 FPere Marq 1st 5s. Por RL & P 6s'47. Reading gen 4%8. R i JC4as51. RIATK& L 4%s... St L IM&S R&G 4s. StL&SFpldsA.. StL&SFprinbs StL&SF5%sD. StL &S Fadjés.. StL &S F inc 6s. StL&SFplés StP & KCSnL 4%s StP Un Dep 5s. ... Seabd A Liref 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. Southern Ry gn 4s. Southern Ry 1st 53 Southern Ry 6sct.. Southern Ry 6% Third Ave adj 65 Union Pac 1st 4s. Union Pac 1st rf 4s. Virginia Ry 1st §s. 1 Va Ry & P 1st 6s., Wabash 2d 5s. . Wabaah 576 Western Md Western P-:.nc 5!. 1 Wheel & L Ecn 4s. ——— BUTTER PRICES HIGHER. Wholesale Markets Strong During Past Week. CHICAGO, July 18 (#).—The butter markets for the week opened firm with buyers showing more interest than has been noticed for some time past. demand 91% 871, 102% 85% % 101% Tl 81n 944 9T BHl 894y 9% 103 106% 1105 424 924 864 994 984 96% 9615 6643 92% ] PR m s OONERND AN EONBE D ARG the markets were in the seller's favor throughout most of the week, with prices advancing from one- half to one cent. The increased activity and firmer feeling became evident on Dastern markets late in the preceding week, where storage stocks were compara- tively light as compared with Chicago holdings. During the week under review re- ceipts were somewhat lighter on the four markets. Chicago's receipts showed a considerable shrinkage, while receipts at Eastern markets averaged about the same as for the week previous. ARGENTINA RAISING HUGE WHEAT CROP Argentina’s wheat acreage is the largest on record for that country, the International Institute at Rome reported today to the Department of Agriculture, the area planted to this grain being estimated at 18,500,000 acres, compared with 15,977,000 har- vested last year. The crop is said to be in good condition. - DETAILS OF COLOGNE LOAN ARE ANNOUNCED NEW YORK, July 18 (®).—Nego- tiations were completed yesterday by Blair - Co., bankers, for a $10,000,000 loan to the city of Cologne, the second Germancity to borrow in the Ameri- can market this vear. A $15,000,000 financing operation recently was ar- ranged for the city of Berlin. Public offering of the Cologne bonds, which are 25-year 6%s, will be made early next week at a price around s8. A simultaneous offering of $2,000,000 will be made in Holland. e WILL OWN WARD LINE. NEW YORK, July 18 UP)—In connection with the settlement of the Ward Line suit, the Atlantic, Gulf and West Indies Steamship Line is paying 95 for the New York and Cuba Mail Steamship bonds, the in- tention being to buy all of tho $5,103,000 5 per cent Ward Line bonds and be its sole owner. HAYES WHEEL'S NET JUMP. NEW YORK, July 18 (#).—Net profit of Hayes Wheel Co. for the second quarter jumped to $659,735, equal after preferred dividends to $3.17 a share on the common, in con- { medium to | moderate, market firm: {bushel hasket: {erate As a result of this increased ! trast to $220,643, or 85 cents a share, in the preceding quarter. Surplus after preferred dividends for, the first half of 1925 was $811,445, FINANCIAL. PRICESBIT LOWER AT GENTER MARKET Cantaloupes, Watermelons and Tomatoes Are Cheaper. A drop in the temperature last night resulted in better business in the mar- ket early this morning. Buyers were out early getting supplies for the re. tail trade, the Saturday half-holiday requiring supplies earlier than at other times. 4 Poultry was in demand, not only for home consumption, but for bungalows and cottages of Summer residents. Prices decreased during the week, one of the few commodities offered lower. An increased demand created. Liberal supplies of cantaloupes from the West and South. especially fror North Carolina, resulted in a material reduction in prices. Moderate supplies of watermelons were ample to sunply the de nd. ane peaches, also in moderate supplies. were in demand at prices termed by dealers as_reasonable Increased supplies of home-grown tomatoes has resulted in lower prices. Half-bushel hampers sold at 75 cents and $1, extras bringing as much as $1.50. Today's Wholesale Prices. Butter—Fancy, tub, 48; prints, 51: store packed, 28230. . selected, average receipts, 31a33 Poultry—Alive, Spring arge, 35a38; Leghorns, heav fowls, 2 2 candled, 34 chickens, small, 20 ; keets, 40 dress small turkeys, 30; : geese, Live stock Spring, 16%; , 15; Spring 114a22; loins, 31a smoked hams, 32 lambs, 30a. 32; shoulder: smoked shoulders, Fruit and Vegetable Review. Today's market report on fruits and vegetables (compiled by the Marke News Service Bureau of Agricultu Economics) s: Cantaloupes upplies liberal; de- mand slow, market fairly steady California, Imperial Valley, ordinary quality and condition mon Tints, standards, 45s, best 2.50; few higher, ponys, § oney Dews, standard 50; few Arigona, 3.00; and jumbo: 15s, & North Ca a Salmon Tints, mostly 4.00; other sections, ards, 45s, 2.00a3.00, according 1o qu ty and condition. Peaches - n, moderate arket firm: Georgi: , large size, bushel bask . Elberta: a3.00 Carolina, bushel b ertas Hileys, medium size, medium size, some 1 arolina nd Belles, medium size, ding to condition Potato Market Firm. Potatoes — Supplies _limited mand moderate, market firr East Shore, cloth-top st Irish Cobblers, U. S 1 ‘Watermelons — \uppur moderate demand limited, market slightl weaker: sales direct to retailers: Geor- South Carolina, Thurmond Watsons, D to 32 5a90; 26 to 28 pound arge Lettuce—Supplies moderate; deman: New York dozen crates, Big Boston type, 1.00a 1.50, mostly around 1.2 Green corn—Supplies moderate: mand moderate, market firm; 1 Carolina, crates, 1.50a1.75 grown, 5-dozen bags, mostly de- rth home 60 per | dozen. Apples—Supplies light: demand good, market firm; Delaware and Virginia. Transparent, large size, mostly 2.00; small to medium s al.75 Peas—Supplies light; demand mod. market stea New York, bushel baskets, Telephones, a3.00 Lima beans—Supplies light; demand good for good stoek, market steady North Carolina, bushel baskets, pooriy filled, 2.50: Maryland, bushel baskets, 3.50. Tomatoes—Home grown receipts lib. eral; demand moderate, market about steadv: home-grown, half - bushel hampers, Spark’s Earllana, few best, 1.25. FINDS NEW ANESTHETIC. Remedy Possesses Cocaine Virtues Without Its Perils. BATH, England, July 18 (#).—At the ninety-third annual conference of the British Medical Association, in session here, it was announced that the medi cal world, as a result of research work done by Dr. A. J. Copeland of Cambridge University, soon would be in possession of a new anesthetic possessing all the virtues of cocaine with none of its perils. In recognition of his work Dr. Cope. 1and has been granted the Ernest Hart memorial scholarship, valued at £200 SHORT-TERM SEcmTIES. (Quotations furnished by Redmond & Co.) ——Close.—— Bid Offer. 1033 0 1057 977y 1088 Adirond, P. & L. C. 6s 19: Alum. Co. of Amer, 7s 19: Amer; Beet Sugar Gs 103 Am. Tel. & Tel. C, 4s 1920 Anaconda “Copper s g1 929 Associated Oil 6s 1835 Baltimore & Ohio_6s 1020 . Bethleham ' Steel 58 1038 Central of Georgia 6s 1920, 1. Mil & SEP 65 19 & Pac. 55 1926 & Liskns 6 1008 Columb. G. & E. 1st 8s 1037 Contpental G, & E; ps' 1027. Du Pont 7iks 1631, Erie R. R.'Co. 5s 192 Federated Metale 7¢ 1 Goodyear T. & R, Bs Grent Northern Guit ol Cor Hock. : %lumhlo “5il 5525m53505s S3500S 555 FAFERE PO PSS Morris ' o s 30 New York Central 8 o SES32R3353ER3283855333338223 FHESEER S RSFRTIPREGETIE 23533-2323333333% i SRS 19 Tdrwager 01 B4 nm Union Pac. R. o I OREE93055e2355555555555000! 8253323 5533050 s Westingnouss E.&3° 75 1031 pe s R FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks Lond a... "O9e3085 siSon oudon. poun 54 Montrein.” dolia TG = e b Berlin, mark. lira. . frane Athens. drach Madrid, peseta. . Vienna crown.. azen. Christiania, Stockholm., crown. crown. rown. . TREASURY CERTIFICATES. (Quotations furnished by Redmond & C s§§‘1 afll 2.75; medium | North | 1.00; | DEAN; ONATIVIA €D, T0 REOPEN MONDAY Court Terminates Receiver- ship in $36,000,000 Broker- age Failure Proceedings. 18.—Dean, Or York 1 biitles of $ day as vesterda With $2 seribed frie kerson bankrupte: charged 1t Davis Immediate ac terminate the t, which were con: cillary receiverships cago The reha institution w statement is: “The uny they were abie to re-e selves on so sound a due to the confidence nd custome said. “With the co-operation of « and friends, the firm has beer fse new capital ir 0,000 reopen eve reopen termi hip hes capt of of its recefv 1.000 of new stomers 1s ion will be taken receiverships in the olidated as ar ith that in Ch the financi ed by Mr. Da dented time doubtful 1d an ample : 1 a apital to carry on its b This is a record in the tion of a large fin; maintaining ch offices i The New and what they found.” Receiverships Consolidated W YORK, July 18 (P).—The re ceivership in this city of Dean | tivia & Co., bankers ay was consolidate ] €0, by order of Federal Judge ¥ | The New York receivership, under the order, will become an anc one and court orders terminat wise dealing with the receivership the firm will be i : 'comm QUOTATIONS IN EARLY ADVANCE Make Up Much of Ground Lost Yesterday—Foreign Cables Extra Good dry weather The op night selling orders ¢ sethacks after the ca were qu an ad yme over d moderate active mo, dvances of New Yark eotton fu { net advance ¢f 4 to 10 . Mar. New Orleans Cotton Prices. NEW ORLEANSE, July 18 (@) cotton market opene Liverpool was 10 penny than due, but the local m | but a partial response, and first showed only 7 to 11 improYed further Qctober trading cember 23.61. or | vesterday’s horted no rain nued high sales of print 100,000 piece: New Orleans cotton futu at net unchanged 0 2 DO High The trades December January March Opening 2340, De | LONDON BANK DEPOSITS SMALLEST SINCE 1921 NEW YORK, July 18 (®.—Aver- age figur the London clearing banks for disclose the low level at which depost have stood for years, the Bankers' Trust Co. of New York reports, the present total of 1,636,448,000 pounds sterling betr the smallest since the banks resumed publication of their monthly average figures in 19 Another low record was the total of investments, 201.- 083,000 pounds. SOUTHERN RAILWAY HITS RECORD HIGH POINT NEW YORK, July 18 (P).—Spec strength cropped out during the we lin a_number of the tol mer- chandising, food o Among the m: attain new American ( Phoenix Ho: ness Machine: Woolworth, F s tion Co., Frank G. Shattuck, States Rubber, Fisk Tire, Dodge Bros. common and preferred and Timken Roller Bearing In the railroad group chief interest centered in Southern Rallway, which crossed par for the first time in h tory, and the establishment of new peak prices by Wheeling and Lake Erie common and preferred, Frisco common and International Railwayvs j of Central Americ: STEEL STOCK HIGHEST SINCE LAST SPRING NEW YORK, July 18 (®).—Reports of trade improvement during the week resumption of dividends on Vanadium Steel and publication of a favorable second-quarter earnings report by tho Republic Steel Co., provided the groundwork for an advance in_the steel shares. United States Steel common crossed 119 to the best price since last Spring, and the inde- pendents followed in its wake. Oils took belated cognizance of such recent favorable factors in the indus try and the steady decrease in crude oil production, withdrawal of surplus gasoline stocks in storage, higher gaso- line and crude prices and large cur rent earnings. BIG JUMP IN ORDERS July™ 18 (®P).—The Co.’s orders in the 1 quarter this vear, aggresating 7t , exceeded the first quar- ter's figures by more than $5,000,000. bringing the hm for the first half ¥ Certain-teed ¥ . International Bi Tidewater Oil