Evening Star Newspaper, August 1, 1925, Page 18

FINANCIAL. STOCKS GO HIGHER | INTRADING TODAY Motors Improve — Market Closes Firm—Rise Is Irreguiar. Wy the Associated Press. NEW YORK, August )}~—The up- ward movemeni in stock prices was resumed in today's. brief session of tHe markat, although the advance was by no means uniform. Despite the absence of many brokers and traders over the week end. there was a good demand for stocks, which wan ptimulated by favorable trade re- ports from several of the basic indus- ' Moters, which were in free supply vesterdav as a result of price cuts, received better support, Mack Trucks selling over 2 points above vésterday's final quotation and sev- aral others moving up a point or so. Heavy buying of Transcontinental was one of the features of the oil zfoup. Renewed accumulation also was noted in such issues as Philip Morris, Crucible and General Electric. The closing was firm. Total sales approximated 550,000 shares. PRICE MOVES MIXED. Soft Spots Develop Along With New High Marks. BY STUART P. WEST. Special Dispatch to The Sta: NEW YORK, August 1.—The stock narket today was firmer following the selling waves ‘which struck the HEt on Fri The, price movement was still mixed with a number of new high records, but with fuily as many soft spots. The market as a whole, however, was well sustained. Canners Stock Strong. Among the stocks which rose to their New had and gained today. F. G nearly as much. Electric featured the public utilities. York Canners. 3 or more points again Although Standard Gas ard Electric | Butte & Sup (1). did not make a new high, it also Was|cado Central. .. Gold. Dust bettered its | Cal Pete (1% ). . very Strong. previous top, as did Spicer Manufac- turing and Atlantic Coast Line among the rails. Louis and San Francisco rose briskly, although not to its best for the vear. The buying movement kept on in Missouri, Kansas and Texas, carrying it to'a new high on ihe move. Emerson Brantingham preferred and Brunswick Balke were other specialties to surpass their for- ) records. Other Strong Points. strong points were New York ding, which shot forward sev- eral point na Electric and Gen eral Asphalt. Other oils held steady for the most part, with Mid Continent Petroleum up about a point. pected that this compeny will m: favorable income statemvent. Notable exceptions were Commercial Solvent issues, the A dropping about § points and the B about 8. Standard Plate Glass, in further response to the reduction in glass prices, sank to 8 pew 1925 low. ~ a Genéral Eleciric was a feature in the high-priced industfials. Stude- baker was firmer, as were the other members of the rubber and tire groups. Columbia Gas Jumps. Columbia Gas & Electric made a sud den spurt across the 70 level today. establishing a new high level. This was regarded as belated response to the finaneial stateraent- for the first <ix months of the yvear. which showed a surplus after depreclation and all churges of $4,741.421, against $3,4 in the.same period a vear ago. F. G. Shattuck shares were another tnstance of tardy recogmition of good busine: for they shot forward today 10 & new top. The income account for the six months ended June 30 showed earnings of $1.79 a share. Dividends of $2 annually are being pald. motors, Markets at a Glance NEW YORK Firm: National 3t new hi Bonds ~ easy Western and Northern 7s soar 10 points. Foreign exchanges steady; sterling improves on Miners” settlement. - Cotton lower; hearish. crop reports. Sugar and cof- tee, holiday. CHICAGC August 1.—Stoc] ‘mpathy with &8 steady sieady: dul. i LESS GOLD SHIPPED. A YORK, August 1 (#) gold movement at the port of New York in July was even smaller than in June. For the first 28 days of the month exports totaled only $2.100.000 and imports $500.000, leav- inz an export balance of $1,500,000. N The NEW YORK DAIRY PRICES. NEW YORK, August 1.—Butter— Firmer: receipts 8,905 tubs; creamer: firsts (88 to Q1 .score), 41%a421 &gs — Irregular; receipts 10,650 cases. Cheese—Firm; receipts, 281- 827 pounds. RATES ON BAR SILVER. LONDON, August 1—Bar _silver, £ pence per ounce. Money, 3% per cens. . Discount rates, short bills, 4-3-16a4l; per cent; three-month hills, 41,a45-16 per cent. NEW YORK, August 1 6915 Mexican dollars, Bar silver, 52 REMINGTON WINS SUIT. NEW YORK, August 1 (Special).— The Remington Cash Register Co. has won its suit against the National Cash Register Co., involving infringe- ment of patents.- The suit is said to inveive millions of dollars. B PENNSY'S CAR LOADINGS. NEW YORK, August 1 (Special).— Total cars loaded by the Pennsylvania Raflroad for the week to July 25 were 170,154, against 167,801 in the preced- ing week and 150,762 in the same week in 1924, From January 1 to July 26 loaded cars handled ‘totaled 4,620,626, against 4,452.960"in the same perlod in 1924 FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.) Nominal Selling checks soid va > pound . 548 Montreal. dotlar Parie trape Brussels. frame. Berkln. Tk a- Rome. lita Tranc.; dracne Deseta érown warsaw. zloty b Covenhagen, crow=® hristiania.” crown Stockholm. crown TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) -~ ose | Am Chicle. .. Open., Ad Rumley pf(3) 58% Air Reduc (4)... 102% Ajax Rubber.... 12 Allied Chem (4). 90'% Allfs Chalm (6). 81% Am Agricul Chm 22 Am AgChmpf.. 68% Am Can (17).... 207% Am Car&Fdy (6) 100% 47 ATH 39 15% 58% 102% 12% 90% 82 22% 654 210% 100% 41 A% 40% 120 118% 49% 117% 6645 1087 111 38 65% 9 139% Pt Am Chiclectts. . Am & For Pow. Am Ice (7)... Am Loco (118).. 113 Am Metal (3)... 49% Am Radiator (4) 111% Am Safety R (3) 65 Am S & Ref (6). 108% AmS& R pf (7). 111 Am Stl Fdys (3). 38 Am Sugar. 6116 Am Sumatra.... 9 Am Tel&Tel (9). 137% Am Tobacco (7). 97% Am Toba B (7).. 97 Am Tobac pf (6) 106% Am WW&EI1.20 64% AmW W 1st () 98% Am Woolen . 40% Am Wool pt 83% Anaconda (3)... 41 Armour Il A(2). 22% Arn Consé&Co. 9% Asso Dry G(2%3) 53 As50 01l (2)..... " 88% Atchison (7) 120 Atchison pf (5). 96% AUBIrm & AC... b% Atlantic C L(18) 171% AtGuIf&WI., 48% Austin-Nichols.. 25 Baldwin L (7). .. 112% Balto & Ohio(5). 76 Bang & Ar €3)... 40% Barnsdall A. 21% Barnsdall B..... 17 Bayuk Cigar.... 39% Beech Nut(2.40). ! Bethlchem Stl... 41% Booth Fisheries. 4% Briggs Mfg(3%) 38% Dkl Edison (8).. 138% Bki-Man Tran... 62% Shattuck was bid up | Burns BrB (2) Columbia Gas and | Bush Terde (7). jE iremuresion: Bk-Man T pf(6). 80% Bkl Unfon G(4). 87% best prices for the vear was|Brown Shoe (4). 1156 This stock has | Brunswick-Balk apid advance in the last week | Brunswick Ter.. 28'% 5 25 23 8% 5% 1% % 28 Can Pacific (10). 141% Case Threshing. 44 Case Thresh pf.. 86% Cent Leather 17% Cent Leather pf. 62 Cen RRofNJ 112. 281 Century Rib (2). 828 Cerrod Pasco(4) 52 Certain-Teed(4). 537 Chandler (3). 324 Chees&Ohio (4). Chi & Alton. .. .. Chi Great West. Chi Gr West pf.. Chi Mil & StP pt. Chi & Nwn (4) Chi Pneu T (5) ChiRI& Pac.. Childs (12.40). Chile Cop (2%). Chrysler Corpn.. 118 Chrysler pf A(8) 104% Coca-Cola (7)... 136% Col Fuel & Iron.. 43 ColG&E (2.60). £9% Com Solv A (4).. 88 Com Solv B 84 Congoleum 25% Consol Distribut 4% Consol Gas (5).. 881 Consol Textil 3 Cont Can (4). 7% Cont Mot (80¢) 9% Corn Prod (2)... 83% Crucible Stl (4). 7] Crucible pf (7).. 96 Cub Cane Supf.. 46% Cub Am Sug (3 2% Cuban Domin 3% Cudahy Pks (7). 100 Davison Chem 361 Dodge Broz Cl A 257 Dodge pf (7). 81 Dome Mines (2). 14 Dupont (10) . 190% DuPont deb (6). 100% Eastman (18)... 105% Elec Powr & Lt. 35% SI P& Lopt (7).. 91% P&L pf 40% pé 108% Eiec Str Bat (4). 64% Emmerson Brot. 4% Emmerson B pf.. 20% FErie 1st pt. 374 Essex 1stpf (7). 26 Fairbks (2.60) 46% Famous Pl (8).. 107% Famous Pl fu pd. 103 Feder Lt (11.40). 804 Fisher Body (5). 82 ¥isk Rubber.... 22 Flelschmann (4) 95% Foundation (8).. 130% Freeport-Texas. 14% Gardner Motor. . Gen Am Tnk (3) Gen Asphalt. Gen Asph pf (5). Gen Baking (6). Gen Cizar (8) Gen Blectric (8) Gen EI spec §0c. Gen Motors (6) . Gen Mot deb (8) Gen Petrm (2) Gen Ry Sig (8) Gimbel Bros. Ginter (1%3). Glidden Co Gold Dust. . 43% Goodrich Ru (4). B56% Goodyr pr pf (3). 106% Grt North pf (5) 6 Grt Wstn Su (8). 96 Green Canan.... 13% Gulf States S (5) 81% Hartman (2%)... 287% Havana Elec (6) 134 Hayes W (13%). 42% Helm G W (3)... 684 Household P (3) 39% Houston Ofl. 667 Howe Sound Co. 21% Hudson Mn (2%;) 82% Hudson Mot (3). 64% Hupp Mot (1)... 18% Tllinois Cen (7).. 115 111 Cent pf (6)... 118% Indep Of1 (1) 81% Indian Motorcy. 18 Inspir Cop (50c). 2T% Interub Rap Tr.. Internat Agri. Int Cement (4) Int Com Eng (2) Internat Har (5) 116% Int Mer Mar pf.. 30% Int Nickel 31% Int Paper....... 63% Int Shoe (5).....185 Int Shoe pf (8).. 116% Int Tel & Tel (6) 126% Jones Bros Tea.. 19% Jordan Mot (3)., 39 Kan City South." " 33% Kayser (Jullus).. 30% Kelly-Spring.... 17% Kennecott (3)... 53% Keystone T & R. .- 2% Kinney G R (4). BI% Lee Tre & Rub.. 16% Lehigh Var(3%) 76% Liggett & M (14). 66 Lig & My B (t4). 654 Lima Loco (4).. 64% Loews Inc (2). *Buff Rch& P.. Butte Cop (50c) . 55% 119% 1043% 137 160% 91 . 219 5414 4% 21% 42% 684 39% 68 21% 3213 64% 18% 115 118% 7% 34% 16 25% 25% A8 194 18: Lorillard (3). Loufsiana Ofi~. . . Loulsville Gas A Mack Trucks (8) 181 Mack Trucks rts 16% Macy HR & Co.. Magma C e) . Mallison & Co. Man Emd g (5). Man Shirt (1%3). Manila Bl (24) .. Maracaibo O11. .. Marland O (75¢). Martin-Parry (2) % Maxwell(A)etts. 119% 120 330 58 102% 12 90% 81% 22% 63% 207 100% 46 46% 39% 119% 18 49% 111% High. Low. Close 58 1024 12 90% 82 22% 654 209% 100% 46 46% 40% 120 113% 49% 111% - 6b% 107 103% 111 38 66% 9 130% 7% BT% 6414 T 98% 40% 83% 41% 28 9% 52% 38t 120 96% 5% 4 172% B4% 33% 8% 136 43 69% 88~ 84% 24% 674 43% 116 30% 31t 6315 186 4 1165 126% 19% 8% 23% 30% 17% 68% 2% 81% 16% 76% 86 66% 4% 81 7% 34% 16% 25% 18% 5 181% 16% 89 41% 26% 46 26 8% 254 46 20% 119% 48% 26 113% 76% 40% 21% 17 39% 8% 4% % 384 138% 52% 80% 88 113 28% 5% 85 23 87% 5% 0% % 284 141% 120 THE. EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct te The Star O Low. Closs. 118 118 1UT% 117% 12% 124 10t% 104 30% 31% 2 2 126% 125% 33k 33% 0% 40% 89% B9% 34% 8b% 9% 80 88% 834 67% 69% 82% 32% 795 9% 8 8% 31% 31% 106% 105% 0% 70% 68 68 56 56 35 35 161 161 18% 134 49% 51% 116% 116% 92% 924 83% 34% 26% 26% 26 27 28 28 39 39 132 182 574 58 49% 49% 66% 67 31% 824 13 13 .80 80 54% o5% 24 24 56% B4% 110% 20% 0% 1% 3% 28% 13 3 1% 59 39% | saxweti(Byotta. | May Dept st (5) . Mexican Seabd. Miami Cop (1).. Mid-Continent . . Middle States. .. Midland P pf (19 Min St P & SSM. Mis Kan & Tex. . MK&TDpt(s).. Missour! Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward . Moon Mot (3). ., *Mo&Essx (33 ) . Mother Lode 75c MotorWhe(1.60) Nashpf (7)..... Nat Biscuft (3).. Nat Cloak (). Nat Dairy (3). Nat Distiller; Nat Lead (£).... Nevada Copper. . XN Y Canners (2). N Y Central (7). NYC&SLpL(6).. N Y NH& Hart. NYOn&wn (1). N Y Shipbld (2). Niag Fpf (1%). Norfolk South Norf & West (7). North Am (3.40) North Am pf (3) North Pac (5)... Ofpheum (1.80). Otis Steel Otls Stee] pf. Owens Bot (3) Paclific Coast. ... Pacific O11 (3)... Packard (11.70). Packard pf (7). . Paige Mot(1.20). Pan-Amer (6)... Pan-Amer B (6). Panhandle. ..... Park & Tliford. . Penn C & Cke. Pennsy R R (3). Penn Seab Steel. Peoples Gas (3). PhlaCo (4)..... Phila& RC&T., Phillip Morris. Phillips Pet (2). Plerce-Arrow. Plerce-Arrow pf. Plerce Petrol Pitts & West Va. Postum Cer (4). Press Steel Car. . Prod & Refiner: Pub Ser N.J.(5). Pub Serv NJ rts. Pub § NJ pf (7). Pub S N J pf (8). Pullman Co (8).. Punta Aleg Sug. Pure Ol (1%).. Radio Corp of A. Radio C pf (333) Ray Cons Cop. Reading (4). Reading Reading 2d (2).. Robt Reis & Co. . Remington Type Reynolds Sprngs Rey Tob B (3) Royal Dch 1.73% St Joseph Ld (2) StL & San F (5) Savage Arms Schulte (*3)... Schulte rights. . . Seaboard Air 1.. . Seabd Air L pf. . Seagrave (1.20). Sears-Rebk (6) . Shattuck F G(2) Shell Un (1.40) .. Simmons Co (2). Stmms Pet (1) Sinclair Of1. . Sinclair pf (8) Skelly Ofl........ Sloss-Shefr (5) . . South Port § (6) South Pac (6)... Southern Ry(5), South Ry pf (5). Spear & Co Spear&Copf ( Spicer Mfs.. . Spicer pf (8). ... Std Gas & EL(3) . Stand Mill (5).. St Ofl Calif (2).. StOUINT (1). StOUN J pf (7). Std Plate Glass. Stew-Warner(5) Studebaker (4).. Submarine Boat . Superior Of]. Sweets (uew) Symington. .. Telautogph 2ic. . Tenn Copper (1) Texas Co (3).... Tex Gulf S (7%) Tex & Pac C&O. Tex & Pactfic. .. Timken R B (14) Tobac Prod (). . TPranscont Oil. Un Bag & Paper. Union Ofl (1.30) . Union 011 Un Pacific (10). . Un Pacific pf (4) Utd Alloy Steel. . Utd Clgar (13%) United Drug (1) UtdDrug 1st 315 U S Cast Iron P. U 8 Ind Alcohol. U 8 Realty (8). U S Rubber. . U S Rub 1st (8 U S Steel (17) Universal Pipe. . Utilities PALt A. Va-Caro Chem. . Va Caro Chem B. % 140% ki 28% 80 129% 4% 150% 8814 136% 56 . 102% 117% 83% 32% 4% 2 . 18% - 120% Vivaudou 14% Wabash........ Wabash pf A (5)- Waldorf (1%)... Ward Baking B.. 70% Warren Co (4).. 48 West Blec pf(7). 114% West Maryland. 144 Westn Pac (5a). 19% Wesn Pac pf(62) 74 West Unfon (7). 131 West Alr Br (6). 1074 Westinghs (4).. 72% Westhse 18t (4). 85% Weston Elec. ... 14% Weston A (2) 281 Wheel & L Erie. 19 Wheel & LEpf.. 414 White Eagle (2). 274 White Mot (4).. 86% Wickwire ctfs 3% Willys-Overld. .. 18% Willys-Od p£(7) . 104 ‘Wilson & Co. 6 ‘Wilson & Co pf. 21 Woolworth (3) . 165 Wright Aero(1). 28% 28% Yellow C (2.52). 42% 42% *0dd lot. {Partly extra. tPavable in preferred atock Dividend rat en. in are the annual c 35 69% 14% CHICAGO LIVE STOCK MARKET CHICAGD, August 1 (U. S. Depart- ment. of -Agriculture).—Hogs, receipts 4,000;, uneven, mostly steady to 10 cents lower than Friday’'s average; de- 'sirable- grades show minimum loss; bulk, 160 to 210 pound weights, 14.00 al4.15; top, 14.256; bulk, 240 to 310 pound butchers, 13.66a13.80; few 140 to- 150 pound averages,‘ 13.75a14.00; packing sows, largeiy 12.00a12.30; odd lots strong-weight slaughter pigs, 13.00a13.50; shippers, 15.00; estimated holdover, 7,000; - heavyweight hogs, 13.15a13.80; medium, 13.30a14.25; light, “BOLD NOTES:SOLD. - NEW -YORK, “Atgust 1 (#.—An fmmus a7, $4.000.000, thrae-vear § per cent gold notes 6f the Eastern Texas Electric Co. have been sold by Stone & Webster. S WASHINGTON SENSATIONAL RISE INBONDS KEEPS UP Florida Western and North- ern Issue Again Leads Market Trading. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 1.—Another sensational advance in Florida West- ern and Northern 7s featured the bond market today. They were rushed up to & new high, above 146, more than 7 points above Friday’s close, making a net gain in three days of over 26 points. There has been no such sen- sational upturn in the bond market in months. The speculation is not based upon the merits of the bond itself, but upon the fact that when it is called for re- demption at 104, presumably on No- vember 15 next, there will be released to bondholders 10 shares of common atock of the Land Company of Fiorida for each §1,000 bond, and this stock represents opportunity to participate in profitable Florida land develop- ment. Outside this one land specuiation the bond market sagged for both in- vestment and speculative issues. Marine 6s Weak. International Mercantile Marine 65 s0la around the new low made Fri- day. This company makes a report only once a vear, and no explanation for the decline was forthcoming. Chi- cago and Eastern Illinols 5s also sold at the low of the vear. Seaboard issues were irregular. he adjust- ment bonds, selling ex the per cent semi-annual interest payment, were up fraction, but the 6s diped below 94, International Great Northern adjust- ments were firm, but the Missourl, Kansas and Texas adjustments and the St. Louis and n Francisco in- comes were reactionar: Youngstown and Tube 63, which sold at par on Wednesday, were down be- low 99 today. Foreign bonds were practically un- changed. TODAY'S CHICAGO PRICES. CHICAGO, August 1 (#).—New speculative buying set in right at the opening of the wheat market today and quickly brought about fresh up. turns in price. Much of the buying ‘was based on an opinion from a trade leader that it is debatable whether the United States this season has produced sufficlent milling wheat for home requirements. Bullish crop re- ports from Canada tended also to 1ift values, much territory in Saskatche- wan province being represented as likely to produce hardly half an av- erage vield. Opening prices i lower to 33 _higher, September 1.49 to 1.49% and December 1.50% to 1.50%, were followed by an advance to 1.51% for September and 1.5623% for December. Corn and oats sympathized with the action of wheat. After opening at % decline to 1% advance, September 1.035 to 1.08%, the corn market un- derwent something more of a sag, and then scored general gains. Oats started unchanged to % off, September 4113 to 41%, eased down a little further and then rose all around to above vesterday's finish. In the absence of any buying the provision easy. WHEAT— Septembe Blember May Tomv- September December .. | May o ATS— September De aggressive market was % rer Ry o sk ano i 3 BES R0G wo ’b' @ 5 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) ‘!— 35382 Ansconda, Cop Associated Os 1038, .. Baltimore & Ohio 6s 1920 . Bethlehem ‘Steel Bs 193, FRPEE R 25550553 0553055 05550550! 535233833333 ES b b it b 5555 3932322355 =3 22332 3Rea2R32! EE e g A IS TSIPITAS B e b bbb it b i b 3 9505 U, S Rubber 73 i Western. Unton %38 1038 Westinghouse E.&M. 7s 1031 GERMAN BONDS AND STOCKS. (Quoted 1n dollars ver myllion marks.) Ger Gt (win) Bs 101418 5? 00 Sy 4%e 10100 13008 1 .00 Ga Dise) 30.00 T et thousand Ger Gen Elec 438 prow 18.00 Ger Gen Elec 4328 1010, ; Berlin 48 pre-war,. ... .. Ham 3e. 338 & 48 Dre'w Hambury Amer Line 4 %8 North German Liovd % (s North German Lioyd Prassian Consols 3128 g;“vg 58 1821. > steidor! 4s pre-wai Frankfort a-M 4 RE3R82333333222885523333 23R R 2353 . 3553839350555550. FAEEE | 3 *E A 3 B e +S555) 88 B3 3% . 38333833333533333533738332 T Ge Elec) . . fraimse S S D er Banl Deutsche Bank. Darmstaedter Mercur Bank BOSTON STOCK MARKET. BOSTON, August 1.—Following is a list of today's highest, lowest and closing prices for the most aective stocks dealt in here: £83353233333333222 R EEE BRI e st 3 Vienn; i | oA Amoskeag . ... Boston & Maine . alumet & Hecl afson Electric. Stardy coai. Hood - Bubber e T k. B g Kiitles gz- OOHIG’I!II New Eng T & T . Pacific Bhliea “rruie United Shoe M Yentura Oil . Walworth L CHICAGO STOCK MARKET. CHICAGO, August 1.—Following is a report of today's sales, high, low and closing quotations at the Chicago Stock Exchange: Sales. w0 S RN SRR - $253388) 1 R e s o FE o) 1 . ) 135S SERBERGSE: FEEEE WS | RERESRRCSINESR Low. Close. = 298 FI e g Pt otor id West pr in.. 1 West O =3 o SR - | Southwest Bell 5s. High. 79 Commonwith ¥ 1 e SATURDAY, AUGUST 1, 1925. Comron BONDS ] BABSINREVIEWS Received by Private Wire Direct te The Star Office. UNITED STATES. (Bales are in $1,000.) Sales. Hig! Lib3%s... Lib 18t 4348 Lib2d 4%s. Lib3d 4%s. Tib 4th 43¢ U S4s1944. U S48 52 101 29 101 101156 101 1025 102 106 12 106 FOREIGN. Sales. High. Argentine 6s'59, Argentine 68 A Argentine Argentine 6 Austria 7s § 3 Aus govt 58 '55 w1 157 Bank of Japan s Belgium 6s. . Belgium 6% s wi. Belgium 75 wi. Belgium 7%s Belgium 8s. . Bolivia 8. 25 - 95% 21 . 30 102% 99% 99'% 9815 85% 90% 984 108% 106% 95% 83% 82 106% 98 1024 102% 102% 102% 108% 41% 0% 98 100% 100 993 103 3 .8 .18 34 E Brazii8s. ... Canada 65 1931 Canuda 65 1962. ... Canada 5%81929. . Chile 85 1926. . Chile 8s 1941...... Chinese Gov Ry bs. Con Pow Japan 7 Copenhagen 5%s Cuba 5l3s. . Czecho §3 1951 . Czecho 85 1962 ct. . Denmark 6, Denmark8s....... DEIG6%aMch'63. DEI5ls Nov'53. Dutch East I 647, Dutch East 18s°62. Finlands 7s....... French 7s Fronch 7%s. . French 8s. German7s. ... Ger Gen Elec 7 Greek 7s. ... Halti 6s. Holland ~ooBule avawaSn~nSaBumexte 9 Japanese 6348, .. . . Jergens U M 65 '47. Lyons6s.......... Mexico 45 '04 Mexico 4510 asntd Mexico s assented Montevideo Netherlands . Netherlands 65'72. Nord 6135. ... Norway 58 wi Paris-Ly's-Med 6s. Paris-Ly's-Med 7s. Peru 8s. Thee Poland 8 Prague 7%s. . Queensland és. Queensiand 7s.. ... Rio de Jan 8s 1946 Rio Gr Do Sul 8s. .. Sao Paulo City §s. . Sao Paulo State §s. Stof S Paulo rets. . Serbs Crot Slo 8s. . Soissons 6s...... Sweden 5l4sct. Sweden 6s...... Swiss 5% 1946. Swiss Confed & UdKingm 5% '29.. Ud Kingm 5% s ‘37 Ud Steam Copen 65 Uruguay 8s 100t 102% 100% 884 844 100% 1044 102 116 1174 105% 94k 110 Low. 100 25 100 25 10029 100 26 10220 10220 24 102 Ciase. 100 25 101 28 100 27 101 14 102 4 102 20 108 12 26 13 3 12 Low. Closs. 96% 968 96 964 95% 96 102% 102% 99% 99% 99% 994% 99% 994 856 8B4 90% 90% 98 98 108% 108% 106% 106% 95% 96% 83% 883% 821 8244 106% 108% 97% 97% 102 102 102% 102% 1024 102% 102% 102% 108% 108% 41% 414 90 90% 97% 9% 100t 100% 995 99% 99% 99% 103 103 110% 110% 100% 100% 100% 100% 10244 1028 1024 102% 2% 93% 90% 90% 99% 99% 102% 6% 96% 934 934 86 86 96 964K 8814 8By 924 924 22 92% 100 100 84 82 19 19 20% 20% 32 32 95% 96% 108 103 108 108 824 82% 94% 95% 100% 100% 100% 1004 101 101% 110% 110% 85% 86% 6% T6% Bd% Bd% 100% 100% 87% 884 93w 93% 105% 105% 111 944 94'5 6% 9% 100% 100% 102 102% 100% 100% 88% 88% 8415 Bd 100% 100% 104 104 101% 102 116 116 117% 117% 106 106 944 944 109% 110 MISCELLANEOUS. Ajax Rubber 85.... 1 100% Am Agr Chem 7%5. 14 103% Am Repubdeb6s.. 7 974 AmSmit& R1st5s 6 98 Am Smit &R 6s. 107% AmT & Teltrids.. 974 AmT& Tecltris.. 22 101% AmMT& Tsf5s.... 96% AmT & T debG3%s. 19 103 Am Writ Paper 6s. 56% Anaconda 15t 65... 24 100% Anaconda cvdbis. 6 101% Andes Cop 7s rots. Armour & Co 4% Armour Del 5%;a. .. Associated Oil 6s. . Atlantic Refin 53... Bell Tel Pa 5s Beth Steel pm 58 Beth Steel rf 6s.... Beth Steel 514853, Beth Steels f .o Brier H St 15t 635 Bkiyn Ed gen os.. . Bkiyn Ed §sB... .. Brooklyn Union Cen Leth 6 Cin G E 5% Col Gas & Kl - Commonwth P 6s. . Con Coal Md 1st ConG NY o8 wi. . Consumers Pow b: Cuba Canecy 7s. .. Denver Gas 5 Dery (D G) % Dodge wi 6s . Du Pontde N 735, Duquesne Light Est Cuba Sug 773 Empire G & F 734s. 1 Franeis Sug 738 Goodrich 6735 . Goodyear 8s 1931, Hershey 545 wi Wershey 6s 1042, Hoe & Co 6338. . Humble O & R 555 Tilinofs Bell 1st bx. 18 Indiana Steel 5 Int Mer Marin, Int Paper 58°47.... Inter Paper 6s..... KCP&Lt5s A'62. Lackawa § 58 '50 Laclede G 535532, Liggett & Myers bx Louisv G & K 58 ‘52 Mid-Con 635 40 Midvale Steel 5: Montana Pow b: New Eng Tel 55. NYEdbs'44 wi.. NYEden1st6% G EL H&P 4a. GEL H&P bs. Tel 4135, N Y Tel 68°41. N Y Tel 65°49. ... North Am Ed 6s. .. North Am Ed 63313. NorOhio T & L 6s. No®States Pow 6w Otis Steel 7%5: . Pacific Gas &€l be. PecT&THEs'62. .. Pan-Amer Pete 63. Pan-Amer Pete 7. PhilaCob%s’3s. .. Phila & Rd C& 153 Public Service és. . Pub Serv Elec 68 P ServGassy '64. ‘Rep It & Steel 5s Sinclair Of1 Sinclair Off SImCOPLS Sin Pips Line 5 Skelly O11 6% Baooe menalal- » - - e R L LT I Rt 1~ PSP~ e PP - NY NY NY 1 o = @ o F a8 -Buna8um amsmaluaaneananton Tenn Elec Pow 6s. . Toledo Edn 18t 7s. . Tnited Drug 68.. .. 8 Rub 1t rf 6s. . U'S Rubber 7338 .. USSteelsfbs.... Utah Pow & Lf5s.. Va-Car Chem 7s.".. Va-Car Ch THs w.. Vertientes Sug 7s. . ‘Warner Sug 78’39, 2 West Elec 58...... 21 Willys-Ov 6%s°33. - 5 102 Wilson & Co1st 6. 5 99 Youngstn S&T 6. 86 99% _RAILROAD. Atchison gen 4ss... 9 88% AtlantieC L ebds,. 10 85% 5_107: 92 8 90% 10 100% L7108, 11102 4 85 ~uARwRR 14 22 2 100% 100% 103% 103% 9T 9% 97% 98 107% 107% 9% 974 101% 101% 95% 9644 102% 102% 56 56 100% 100% 1014 101% 984 984 102% 102% 9% 99% 10214 10235 92% “92% 9% 94% 8% 87% 93% 93% 100 10088 100% 100% 104% 104% 100 100 100 100 10315 1034 _100%_100% 1018 80% 80% 103% 103% 95% 9o% 95% 95k 83y 93% 82 824 981 98% 1064 1064 106% 106% 104 104 104% 10434 1064 106% 1031 103% 110% 110% 98% 98% 104% 104% 103% 103% 101% 101% 100 100 10i% 101% 884 83% 91k 91% 95% 95% 98 98% 92 23 99% 99% 100 100 964 96l 98% 98% 81 91 99 99 100% 100% 99% 1004 114% 114k 834% 884 108% 108% 97 97w 106% 106% 108% 108% 100% 101% 103% 108% 95 954 104% 104% 100% 100% 95% 954 96 96 107 1074 105 105 98 9sq 100 100 9515 98% 106% 106% 102 102% 95 95 108% 108% 92% 9284 100% 100% 86 86 110 1108 99% 99% 1024 102% 108% 105% 104% 104% 81 88% 106% 106% 105 105% 9 9 9% 9% 8% 8% 50 80 8944 89K 86's_ 8514 57107 89% 89% 100 100 - 102% 108 102 102 85 - 85 96 Sales. High. Low. Close. Canad North 615s.. 19 117 _118% 116% Canad Pacdeb4ds.. 6 80 ~ 79% 80 Car Clinch & O 63.. 6 107% 107% 107% Cent of Ga 6s. .. 103% 108% 108% Ches & Ocvils 98% 93 984 Ches&Ocv bs. . 106 105% 106 Chi & Alton 334s. .. 48% 48% (B% ChiB&Qgn4s’'58. 16 90 88% 90 ChiB&QIlstrfhs. 1 101% 101% 101% Chi&Elgnsbs.... 18'% 13% 78% 63 62% 62% 48% 48% 48% 80% 80% 80K 48% 48% 48% 49 43 49 48 48 48 108% 103% 108% 83 83 8% 5% 6% 5% 83% 88 83 86 85% 85% 1007 100% 100% 8% 98 28 96'% 9644 964 102% 1024 102% 93% 93% 98% 86 86 86 105 106 105 90% 90% 904 1044 104% 1014% 108 108 108 83% 83 88% 60% 60 50 0% 70 70 6214 6215 624 70% 70% 70% 107% 107 107 93% 934 93% 107 107 107 116% 115% 115% 93% 903’ 93% 101% 101 101 110 109% 110 15% 16% 16W 93% 93% 93% 90 90 5% To% 88% 854 102 102 DI _99% 6717 67% e 89% 894 3% 734 20% 20% 84 84% 89% 90 8 85 80% 80% 100 100% 625 62% 95% 8814 884 103% 108% 9% 79% CC& St Lrf 6uA. Colo & Sou 434s. .. . Cuba R R bs Cuba RR 7% Del & Hd 1st rf 4 Del Hud cv b5 '35 Del & Hud 5%s Den & Rio G cn D& Rio G Wt 5s. . Erie 1st cons 4s. . Erie gen 4s. . Erfeconv 48 D. Erfe conv ext 7s FlaECG6s'74.. Gr Trunk sf db 6. Grand Trunk 7s. Great North 6s. . .. Great North 5%s. . Gr North gen 7s. .. Green B& W ab B. Havana ERL&P '50 13 Hud & Manrefis.. 6 Hud & Manajbs... 15 111 Central ref 4s 6 11l Central 53 111 C-C St L&) Int Rap Tr 6s stpd. Int Rap Tran 6s.. Int Rap Tran 7s Int & G Nor aj 6s. lowa Cent rf 4s. Kan City Ft 8 4= KansasCity S b8 Kan City Term 4s. Lehigh Valen 4s Lehigh Val 68 2003. 1 Manhat Ry cn 45 Market St Ry 7s Mil ElRy & L b8 M StP & 55M 6% s K&TESB. ....." K&Tadjbe.... 6 K&Toprinss A K&T6sC. 1 Mo Pacific gen 4s. . Mo Pac 55 1965. Mo Pacific 6& . Mo Pacific 6s cfs Montrl Tm 1st 58 NOT&Mb6%sn. . N'Y Cen gen 3348 NYCentris cer N Y Cent deb 6s. . . NYCent LS cl3i3e C&StLdb4s. 25 Chi& St Lsys 18 C&StL6sA.. 10 nt W ist 4s. . 93% 93% 103% 103% 64% 6% B6% 86% 4 100% 100% 100% 100% 97 97 100 100 1% 1% 100% 100% 1084 108% %6 16 94% 96 5% 102% 10244 6815 6815 28 28 68's 68% 60 60 83% 83% 105% 105% & &T &T &T e Y ¥ Y Y Y Y ¥ orthern Pac Is. Northern Pac 4s. .. Northern Pacri6s | Ore & Calif 1st 6s. . Ore Short Lref 4s. 94T 9T Pennsyl gen 4 %s. $2 - 92 100 100 97k 9T 3 110% 110% 108% 108% i 9Tk 9T 93% 93% 84% 84u 87% 87% 8% 9% 76 T6% ss% 90 99 99 92 92 985 9% 102% 102% 81% 82 93 93 _ 96% _96; 85 T8 87% 87% Pennsyl 55 '64 Pennsyl 6%8. .. Pennsyl gold 7= Pere Marq 1st 5 Reading gen 4%s. . Rio G W 1st 4s RIArk&L 43 St L IM&S 4s°29 StL&SFplésA. StL&SFprinss. 19 StL&SF5%sD.. & StL &S Fadj 6 4 StL&SFincés... 4 StL&SFpl6sC.. 7 Seabd A Ladj bs... 28 Seabd A Licon 6s... 14 Sou Pacific 45 '29. . Sou Pacific clt 4s. . Sou Pacific ref 4 9 856% Southern Ry gen 45 14 Southern Ry 1st 55. 6 Southern Ry 6sct.. 11 Southern Ry 6%4s.. 11 Union Pac 1st 48 30 Union Pac 48°27... 2 VaRy&Pistss... 11 Wabash 63%s'75... 33 Western Md 4s.... 3 Waestern Pacific 5s. 1 Wisconsin Cent 4s. 11 78 TI% 1% 102% 102% 102% 106%_106% _106% 111 110 T110 9% S 91% 89 99 99 98 97 us 96K 95% 95% 654 654 65% 2% 924 924 8% 78R 8% CHICLE CALLS IN NOTES. Dividends Also Resumed on Pre- ferred Stocks. NEW YORK, August 1 (#).—The American Chicle Co. has called for re- demption on October 1 its outstanding $279,269 five-year- 6 per cent notes due Octrber 1, 1927. The notes will be paid at face value and accrued in- terest. Dividends have been resumed on the preferred stock with a pay- ment of $1.50 a share. An inftial quarter dividend of $1.756 a share on the prior preferred and a dividend ot 58 cents a share for June also were authorized, all payable October 1 1o stock of record September 15. NEW CROP YARN SOLD. Orders Taken for October, Novem- ber and December. GASTONIA, N. C., August 1 (#).— First sales of varn for the new crop year were made by Gaston County spinners this week, deliveries being for October, November and December on average orders, chiefly on mercer- izing varn Inquiries on the new business ha been heavy recently, but on a basis that spinners have refused to accept. Practically all mills have sufficient business to carry them to the end of the old crop year, in September, and 8o are accepting orders only on mar- gins permitting profitable operation. Buyer stocks are apparently low, as orders continue to pour in, generally small in poundage, indicating they are endeavoring te cover their needs un- til the new cotton crop enters the market. SALES RECORDS SMASHED BY MONTGOMERY WARD CHICAGO, August 1 (#).—Sales of Montgomery Ward & Co., for the first seven months of 1925, exceeded all records for any similar period, and totaled $93268,637, compared with $84,378,840, for the first seven months of last vear, an increase of 10.54 per cent. 'The July, 1925, sales totaled $10,842,762, compared with $8,653,222 in i!uly, 1924, increase of 25.30 per cent. 3 BALTIMORE PRODUCE. BALTIMORE, Md., August 1 (Spe- cial).—New potatoes, barrel, 2.25a6.50; culls, 1.50a2.00; bean=, bushel, 25a1.00; beets, 100, 2.00a3.00; cabbage, 100, 8.00a 12.00; sweet potatoes, barrel, 3.00a3.00; yams, barrel, 5.50a6.50; carrots, 100, 4.00a5.00; corn, dozen, 15a25; celery, crate, 2.50a3.50; cucumbers, basket, 15 a25; eggplants, basket, 1.00al1.25; let- [tuce, crate, 76a1.75; lima beads, hushel, 1.76a2.25; peas, bushel, 1.25a2.00; pep- pers, basket, 40a80; onions, bushel, 1.75a2.75; squash, basket, 15a25; toma- toes, hamper, 50a85; green, 40a50. Apples, barrel, 1.00a3.50; bushel, 50a 1.50; peaches, bushel, 1.50a2,75; dam- sons, basket, 78a1.00; cantaloupes,, bia:k;t. 75a1.35; Isllmkbcrrlrt li.l.,' \unm . 15 a1s; quart, 18a25; plums, ‘basket, 56n78; watermelons, édch, 15a85. 90% 90% | 94% | 100% _100% | FINANCIAL. AUTO INDUSTRY: Prices and Costs Cut—Few- | er Models—Stocks Need Special Study. f BY ROGER W. BABSON. i Spectal Dispatch to The Star. | WELLESLEY HILLS, Mass., August 1.—The most sallent fact evident in any present study of the automobile industry is that its development has i defied all prophets and has exceeded | the most optimistic hopes. In the| early years of the industry the autc was belleved to be only a fad to be owned by the wealthy. Twenty-five vears ago automoblles were looked upon as we consider airplanes today. When it finally was discovered that the automobile had practical value, then bankers began to talk about the “saturation point.” Every year the bankers stated that the foliowing year automobiles would reach their saturation point and the industry would begin to decline. Of course, no trees grow to the skies and sometime the automobile industry may reach its maximum development, but all the pessimists have been dizsap- pointed up to the present time. Production for 10 Years. The following annual figures on the production and registration of cars show the situation for the past 10 vears. PRODUCTION 10864 . 1347061 5 . 15460649 *Inciudes Canadian production Present Conditions in Trade. Of course, conditions are very dif- ferent than they were a few years ago. Prices are being cut, costs are being cut, less money is being spent on advertising and selling, there are fewer changes in models, consolida- tions are taking place and various other factors are developing which are unpleasant to many people. On the other hand these changes are i mostly for the benefit of the consum- | ers and should uitimately be good for the industrv. This all Signifies that | the business is becoming stabilized. What was once a luxury has become {a necessity, and what was once a fad is becoming a staple. This means that there are smaller profits, but { that the pbusiness is on 2 much sound- er basis. The fact has also been proven that “once an auto, always an auto,” which insures repeats and replacenient orders. Autos Last Seven Years. | Consider the fact that about 2,000.- | 000 people are being born every year | in the United States and the aver- age life of a car is not over seven vears, it will be seen that the re- placement _automobile business has great possibilities. It is said that cer- tain companies are almost able to pay their dividends merely from the sale of parts and other accessory lines. Therefore, the industry is here to stay and is gradually getting on a sound basis. Of course, there : | more consolidations. There is no sense in having so many different makes of cars. Gradually these will | be brought together and there will be fewer companies, resulting in re-| duced selling and advertisimg costs, which are now a sreat factor. Outlook for Automobile Stocks. The above comments apply to the industry and not to the stock market. Our investigations are in connection with the manufacture and distribution of automobiles. Therefore we, per-| haps. should sav nothing regarding the securities of the companies. I, however, wish to make this comment; namely, that it is very dangerous to consider _automobile ~stocks as a group. Bach individual stock must stand on its own basis. Some will &0 to higher figures, while others will decline to nothing. Many of the keenest bankers be- leve that automobile stocks, taken as a whole, are too high at the present { time, and I am inclined to agree with this diagnosis. On the other hand, if the expected consolidations _take place, the surviving companies should profit greatly thereby. - The automo bile industry is a good deal like the copper industry. Both industries, as industries, are perfectly sound; but when investors bet on anv one com pany they run considerable risk Installments Up Mones. The most dangerous factor in the situation today is the tremendous purchase of cars on Installments. This seems to be inevitable and doubtless is @ development which will always continue in the industry. These in- stallment purchases, however, have resulted in the tying up of a lot of money, which is not a healthy con- dition, so that some automobile com- panies are doing almost a banking business without Federal or State su- pervision. This instaliment business is the cloud in the automobile in- dustry today and on account thereof some companies may have much trouble ahead. It is @ new business, which means there s still a_lot to learn and hence some must suffer during the process of learning. Experience is very valu- able, but. like most valuable things, is very costly. Even though this install- ment business is necessary, history shows that In the early davs of any good thing it is always pushed too far and overdone. This is the weak- est feature in the automobile struc- ture at the present time. Auto Truck Tndustry. In the early davs the automobile industry consisted mostly of pleasure vehicles, and these, of course, are now the backbone of the industry. ‘Then the manufacture of trucks de- veloped, and today the horse is very largely displaced; but thus far the truck business has never reached the proportions expected. The most lucrative field at the moment is the auto or motor coach industry. The White Motor Co. of Cleveland shou'd be given the credit for putting this business on its feet. They were fol- lowed by the Mack people and the Plerce-Arrow Motor Car Co. and sev- eral other companies. - Then the Yellow Cab Manufacturing Co. of Chicago took it up, which ‘company is now being taken over by-the Gen- eral Motors Co. Without doubt the auto bus or “motor coach,” as it 1s now called, is destined to become a great factor in transportation. Not only is it the salvation of street railways adopting will be many | first TRADERS IN WHEAT ARE HEAVY LOSERS Grain Jumps 14 Cents Per .Bushe in Week as Farmers Hold Up Shipments. BS the Asociated Press. CHICAGO, August 1 Abrupt fall- Ing off in country seiling has had much to do this week with a sensa tional finish here for contracts re quiring July delivery of wheat. Trad ers who apparently overlooked a hold ing policy on the part of farmers suf fered in some cases a loss of nearh 14 cents a bushel, July delivery clos ng at 13%a13% cents advance, a« compared with a week ago, whereas other deliveries of heat this morn ing were 1 cent n 13 cents down with corn 3% to 23 cents off, oa showing 2% (o 3% cents nerback and provistons at 15 cents to b0 centa decline. 1t had been zomewhat generally ex pected that this week would witness a much increased movement of Win ter wheat to market, and there were predictions that more than 1,000 car loads would arrive in Chicago on laat Monday. As a matter of fact, Mon d receipts here totaled just 70 and it was sald that on th#' day one of the big recelving houses failed to get a single car. This de velopment was followed later in the week by further evidences of a. slow- ing up of wheat shipments to Chi cago, and word was circulated that the Kansas wheat movement was over unless the market showed at least 2 10-cent advance. No such advance, though, forthcoming until the last day of July, and it was then too late to at- tract enough wheat here to afford any relief to traders who had risked such an unusual thing as a month end scarcity of offerings in harvest. Mean- while, an active demand from domes- tic millers as well as the dearth of rural selling had prevented accumula tions of what at primary points, Chi cago in particular. The climax cama with assertions that the market had been cornered, and with a price bulgs of 9 cents a bushel in a dav. Greatly improved crop prospects in the corn belt were responsible for = moderate decline in corn values. In creasing shipments of new oats weak- ened the oats marker. Provisions reflected a downiurn the price of hogs. was n ' RICHMOND CLEARINGS IN $13,000,000 DROP July Decrease $10,000,000 Under Year Ago—Slowing Down in Industry. Specia RICHMOND, crease of §1 A Ae- 902,642 in clearing house transactio for Richmend for the seven months of this vear, as compared with Jast year, is reported Of this sum it is discovered that the decrease for the month of July of thin vear has been £10,000,000 from the same month last yvear. One of the big factors in this has been the slowing down in some of the industrial estab- lishments of the city. The banks of the city have large amounts of ready cash for legitimate uses, but it is being loaned out only when every requirement of the law is being complied with VARIETY OF S.TOCKS REACH NEW PEAKS NEW YORK, August 1 (#).—Among the widely diversified list of indus- trials and specialties that attained new peak prices during the week were International Combustion Engineer- ing, Foundation Co. Brown Shoe Loew's, Inc.: Spicer Manufacturing Remington Typewriter, Midland Stesi Products preferred, General Motors, Pacific Gas and E) c, Marland Ofl American Can White Motors and Wooiworth Rails were slow in responding reports of high earnings, although steady accumulation took place in & number of Southern and Southwes: ern issues. BUTTER PRICES DECLINE. Heavy Receipts During Week Favorable to Buyers CHICAGO. Augusi 1 P).——The hut ter markets on Monday opened firm under what appeared to be a fai Dhealthy tone. Prices at all markers showed an advance of half cent from the cloge on Saturdav last, but it soon became evident that the advance was not warranted. Buyers for storage purposes apparently were of the opinion that prices were too high and began curtalling purchases or staved off the market entirely. Regular buyers supplying consumptive needs sensinz the easier feeling also lim ited their operations, and as a resuli there was an accumulation of fine butter on dealer’s flo: Recelvers finding that goods moved with dificulty, began pushing sales, and in order to clear floors of freshar rivals began to lower prices in an ef fort to interest buyers, o that by Thursday prices had declined from 1 to 113 cents on all markets. Receipts of butter at the four mar kets showed a further decline during the week under review, aithough less of a decline than for the week pre vious. DIVIDENDS. Phillipa-Jones Southern Pipe Studebaker Do, pf. . Pt White E.J G pf.. GALVESTON, Tex.. August 1 (#). —Cotton shipments from Galveston for the past season, ending today. were larger than any season since 1915, according to figures made publis today by the cotton exchange. Ship- ments this year were 3,709,079. Thene figures were exceeded only once in “he past 10 years, when 3,963 056 bales ‘were shipped in 1915 —_—————— optimistic fnoments; never bellsved would be possible, It is the great backbone today of the steel business. Rubber, which 25 years ago was used only for wearing apparel and tips of pencils, i3 today the basis of a tra- mendous industry with ramifications it, but it also will be adopted for its| assistance to- steam railroads - and| most mercantile houses. Other Featurcs of Industry. The automobile industry has done very much more than manufacture motor vehicles. It has revolutionized our highways and has created a great. road-building industry of which man never before. dreamed, It. has de- 'veloped the oil business to proportions which -the Reckedallers, 1o thelr most all_over the world. There are scores of other inatances . where industriés have been revolution ized and greatly aided by the dsvelop ment of the automobile. It s said that more cotton today {s gaing into tires than into dresses, while the manufacture of paint, artificial leather and other products used in the auto- mobile industry has been _turned topsy-turvy by the automobile chemi- oal engineers. (Copyright., 1828.)