Evening Star Newspaper, August 3, 1925, Page 20

20 * FIN NEW HIGH RECORDS IN STOCK MARKET Confused Movement Noted as Attending Profit-Taking and New Buying. BY STUART P. Special Dispatch to The Star. WALL STREET, New York, Au- gust 3.~ The stock market today was an exact duplicate of the Monday markets of the last few weeks. A lot profit taking was encountered, which carried off prices somewhat in certain directions. But this was bal- anced by new buying in other quar- ters. The result was a very confused movement, with no general tendency either way A number of new high records were made. Among these were Interna- tional phone and Telegraph, Standard Gas and Electric, which was up two points, and Columbia Gas, which was up 11. These were the three leaders of the public utility group. Allowing for the deduction of rket value of th ric Bond 1 Elec- WEST. tric sold a y i shot forward over 8 points. New Tops in Shares. There were new tops in Chicago Pneumatic ool, Howe Sound, Gen- Signal, Certain-teed Spicer Manufacturing, Coca ieneral Baking. Shattuck, which up over 3 poin Gold Dust and Pont. Among the rails Atlantic Coast Line continued its remarkable ad- v and Seaboard Air Line ex- elled its previous high with a rise of over a point Among other high-priced Indus- trinls bid up were American Can, Mack Trucks, Chrysler and Brown Shoe. Mail order shares and Intern: tional Harvester, moving as they usually do together, and reflecting farm prospec were all higher. Westinghouse Electric sympathized with the strength in General ‘Woolworth Famous Texas Gulf Sulphur were objects special buying at times, and so was TUnited States Cast Iron Pipe. The strength in Texas Gulf Sulphur was ompanied by data indicating record sulphur shipments. Cuban Cane Sugar at New Low. Cuba Cane Sugar preferred made 8 new low at 46 then rallied American Su; at one stage was early 2 points up and Great Western ugar ovel points. There were, vever, no developments in the trade situation. A higher ten- dency in the copper metal shares, where the bid was raised more firmly to 143 cents, was followed by some buying of the copper and smelting prir ¥y Kennecott and ar sh International spectacul sharply STOCKS RUN Hl(-HlLR Motors broke 29 points. Shoe after its recent dvance yvielded rather Upward Movement at Opening of Market Today. ing favorable trade report: earnings statements, stock prices re- sumed their upward movement at the opening of toda market. General Electric opened 212 points higher at 300, the highest price reached since the segregation of the Electric Bond and Share holdings: Houston Ol ad- | vanced a point and scores of other in- dustrials and rails showed substantial fractional gains. Pools again were active in a number of specialties. Additional new 1925 high records were established in the first half hour by International Tele- phone, Standard Gas & Electric, Frank G. Shattuck, Spicer Manufac- turing, Gold Dust and Coco Cola. General Electric quickly extended its | gain to 612 points. A strong demand | also developed for the steels, motor mail order and merchandising share Gain of a point or more above Satur- day’s final quotations were recorded by United States Steel common, s-Sheffield, Sears Roebuck, Montgomery Ward, Wool- worth, American Can, du Pont, Fisher Body, Mack s, Chrysler and sev- eral others sh Motors broke 10 points on one sale and Cuba Cane pre- sank to a new low level for vear. ading in the forelgn exchanges s quiet. due to the observance of bank holiday in Great Britain, and rates were little changed. De- nd French francs held steady nd 4.74 cents, re- spectively h kroner rallied over 20 points to 7 cents. the most mand sterling Sharp Break in Nash Motors. A sharp break of 29 points in Nash Motors unsettled some of the other motors hefore midday, and brought about irregularities in other sections of the list, but the main trend con- tinued upward. Heaviness of the equipments was in anticipation of poor earnings for the first half of the vear because of the low rate of oper- ations of some of the larger com- panies. Speculative was confined interest in the rails largely to the South- western carriers, particularly those in which favorable dividend develop- ments are believed to be pending. The sharp advance in several special- ties indicated nty floating supply of those stocks. United States Cast Tron Pipe jumpi points, Brown Shoe and Great Western Sugar, International Harvester and Frank G. Shattuck selling 3 to 3% points higher before the end of the second hour. New York Canners fell back 2 points on profit taking. Call money renewed at 41 per cent. sz Markets at a Glance NEW YORK priced indust easy orthern Ts react n exchanges steady: Danish kroner allies sharply. Cotton barely steady; rains sputh Texas. Sugar featurele Coffee lower; pean selling. CHICAGO—Whea Spring wheat estimates. bullish visible suppl Hogs higher: big | rong; high- ord highs. on rea ei bullish Corn steady; Cattle lower. ckers inactive. Baltimore Food Exports. Special Dispatch to The Star. BALTIMORE, August 3.—Exports _of foodstuffs through the port of Bal- “timore last week were the smallest for several years, according to figures of the Chamber of Commerce. Only ANCIAL. AbItibi Pow (4). Adams Exp (). . Ad Rumley pf(3) Ahumada (11).. Alr Reduc (4) Ajax Rubber. Aliied Chem (4). Allled Cm pf (7). Allis Chalm (6) . Am Agricul Chm Am Ag Chm pf.. Am Beet Sug(4). Am Bosch. Am Brk Shoetfl) Am Can (17). Am Can pf (7). Am Car&Fdy (6) AmC& Fpf (7). Am Chain A (2). Am Chicle. ... .. Am Drug (60c). . Am Express (6) . Am & For Pow. . Am Hide & Le | Am Ice (7). Am Internat]. Am La Fran (1) Am Loco (118) . Am Metal (3). Am Radfator (4) Am Ry Exp (6) Am Safety R (3) Am Ship&Com. . Am S & Ref (6) Am Stl Fdys (1) Am Sugar. . Am Sumatra. ... Am Tel&Tel (9). Am Tobacco (7). Am Toba B (7). Am WW&EI 1.20 Am W W 1st n) Am Woolen. Am Wool pt Am Writ Pap pr Anaconda (3). Ann Arbor pf Archer-Danel Arch-Dan pf (7). Armour Del (7). Armour 111 A(2) . Artloom Corpn. . Asso Dry G(215) Asso Ofl (2 Atchison (7).... Atchison pt (5). Atl Birm & At Atlantic C L(18) AUGUIf & WI. Atl Gulf & WI pt Austin-Nichols. . Baldwin L (7)... Balto & Ohio(5) . Bal & Oh pf (4). Bang & Ar pf(7) BarnsdallA. .. .. Bayuk 1st pf (7) Beech Nut(2.40). Bethlehem St Briggs Mfg(3%) British Emp 1st. Bkl Edison (8). Bkl-Man Tran. Bk-Man T pf(6). Bkl Unlon G(4) . Brown Shoe (4) . Brunswick-Balk. Brunswick Ter. . *Buff Reh& P. .. *BuffR&P pf(6). Burns Br B (2).. Bur Add Ma (3) . Bush Terminal. . Bush Ter de (7). Butte Cop (50c). Butte & Sup (1). Butterick. . Caddo Central Cal Pete (1%) Callahan Zinc. . . Calu & Hec (50c) Can Pacific (10). Case Threshing. Case Thresh pf. . Cent Leather. nt Leather pf. Century Rib (2). Cerro d Pasco(4) Certain-Teed (4) Certain-T 1st(7) Certain-T 2d (7) Chandler (3).... Chees&Ohio (4). “hi & East 111 1 Great West. Chi Gr West pf. . Chi Mil & StP. Chi Mil & StP pf Chi & Nwn (4) Chi Pneu T (5). Chi RI& Pa CRI&PDf (7). Childs (+2.40) ... Chile Cop (21%). Chrysler Corpn. Chrysler pf A(8) Cluett Peab (5). Coca-Cola (7). .. Col Fuel & Iron. Colo Southern. .. Col G & E (2.60) . { Com Solv A (4). Com Solv B. Congoleum (2).. Consol Distribut Consol Gas (5).. Consol Textile Cont Can (4) Cont Insur (6).. Cont Mot (80c) .. “orn Prod (2)... Crucible Stl (4) b Cane Su pf.. Cub Am Sug (3). Cuban Domin. Cudahy Pk (7). Cuyamel Fr (4). Davison Chem De Beers (1 Del & Hud Detroit Ed (8). . Dodge Bros Cl A Dodge pf Dome Mines (’) Doug Pectin (1). Dupont (10).. DuPont deb (6) . Eastman (18) . Baton Axle (2).. Elec Powr & Lt. EIP&Lpt (7).. E P&L pf 40% pé E P&L fall pd (7 Elec Str Bat (4). Emmerson Brat. Emmerson B pf. End John (5) . Erle R R Erle 1st p Erie 2d pf. Fairbks (2.60) .. Famous P1 (8).. Famous Pl fu pd Feder Lt (11.40). Fisher Body (5). Fish Bd O pf(8). Fisk Rubber. ... Fisk R 18t pf (7) Fleischmann (4) Foundation (8) . Freeport-Texas. Gardner Motor. . | Gen Am Tnk (3). Gen Asphalt. ... Gen Asph pf (5). Gen Baking (6). Sen Cigar (8). .. Gen Electric (8). Gen El spec 60c. Gen Motors (6).. Gen Mot pf (7).. Gen Petrm (2) . . Gen Ry Sig (6 Ginter (114) Glidden Co Gold Dust. Goodrich Ru (4). Goodrich pf (7). Goodyear pf (7). Goodyr pr pf (8). Grt North pf (5) Gt Nor Ore (1).. Grt Wstn Su (8). Gulf Mo & Nor. . Gu M & N pf (6). Gulf States S (5) Hartman (2%). . Havana Elec (6) Hayes W (13%). HelmG W (3)... Household P (3) Houston Ofl...... Howe Sound Co. Hudson Mn (215} Hudson Mot (3). Hupp Mot (1) .. 476 bushels of wheat and 1,241 bar- rels of flour were shipped during the week, compared with 6,910 barrels of “flour the previous week, 742,807 bush- els of wheat, 100,000 bushels of barley &nd 60,490 bushels of rye. Tllinois Cen (7) Indep O1l (1). Indian Motorey . Inspir Cop (50¢). Interub Rap Tr.. - 120 Open. High. Low. Close. 65 91 58 10% - 103% 1244 90% ll.\: o 654 87% 30% 108 . 210 119% 101% 127 233 6% 5% 135 40% 11 344 124% 118% 49% 111% 77 634 4% 103% 384 142 44 86% 18% 62% 32 52 56 98 91 32 95 35% 1% 244 8133 29 187% 42% 68 40% 69 21% 824 63% 18% 115% 32% 19 27% 2% 65% 91 58 10% 103% 13 1% 120 82% 23 86% 37% 31 108 214% 65 a1 57 10% 102% 12% 90% 119% 82 22% 65% 37 30M 108 209% 119% 101 127 23% 46% 5% 65% 91 57% 10% 102% 13 904 120 82% 22% 65% 37 31 108 213% 119% 101 127 238% 48 5% 134 40% 11 118 364 124 13 50 111 77 THE EVENING STAR, WASHINGTON, D. C., MONDAY, AUGUST 3, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office | internat Agrt. .. Int Cement (4). . Int Com Eng (2) Internat Har (5) Initer Har pf (7). Int Mer Marine. . Int Mer Mar pf Int Nickel Int Paper....... Int Ry Cent Am. Int Ry CA pf(5). Int Shoe (5).... Int Tel & Tel (6) Jewel Tea. .. Jordan Mot (3) Kan City South. Kan C So pf (4). Kansas & Guif.. . Kayser (Julius). Kelly-Spring. Kelly-Spring pf. Kennecott (3)... Kresge SS pf(7) . Kresze Dep 8 (1) Kupenhm pf(7). Laclede Gas (8). Lee Tre & Rub. . Lehigh Val (3%) Liggett & M (t4) Lig & My B (14). Loews Inc (2)... Loft. Loose-Wiles Lorillard (3).. Louislana O1. . . Louis & Nsh (6) Louisville Gas A Ludlum (2) Mclntyre P (1).. Mack Trucks (6) Mack Trucks rts Macy HR & Co. . Magma C (T5¢). Mallison & Co. .. Man Emd g (5). Manila El (2% ) . Maracatbo Oil. . . Market St prior Marland O (75¢) Martin-Parry (2) Mathieson Alka. Maxwell(B)etfs. May Dept St (5) . Metro G pf(1,89) Mexican Seabd. . Miami Cop (1).. Mid-Continent . Middle States. .. Midland P pf (19 Mis Kan & Tex. MK&T pf (5) Missour! Pacific. Missouri Pac pf. Mont Power (4) . Montgom Ward. Moon Mot (3). *Mo&Essx (31 Mother Lode Tsc MotorWhe(1.60) Nash Mot (116). Nat Acme (sta). Nat Biscuit (3). Nat Cloak (4). Nat Dairy (3). at Distillers. .. Nat Distillers pf at Lead (8)... Nevada Copper. . Y Air Br (4). Y Canners (2). Y Central (7). Y C&StLDL(6) . Y Dock .a Y Dock pf \-\) N Y & Lack(7). Y N H & Hart. Y On&Wn (1). Y Shipbld (2). Niag F pf (1% ). Norf & West (7) North Am (3.40) North Am pf (3) North Pac (3)... Oppenheim (3).. Orpheum (1.80). Otis Steel..... Otis Steel pf Owens Bot (3).. Pacific Gas (8). Pacific Oil (3). Packard (11.70). Paige Mot(1.20). Pan-Amer (6). .. Pan-Amer B (6) Panhandle Park & Tilford. Pennsy RR (3). Penn Seab Steel. Peoples Gas (8) . PhlaCo (4)..... Phila& RC&I. Phiilip Morris. .. Phillips Jones. . . Phillips Pet (2). Plerce-Arrow. Pierce-Arrow pf. Pierce Oil. Pierce Pel *PittsFtWay (7). Pitts Stl pf (1) Postum Cer (4). Press Steel Car.. Prod & Refiners. Pub Se E&G pf 6. Pub Ser N.J.(5). Pub S NJ pf (7). Pullman Co (8). Punta Aleg Sug. Pure Oil (1%).. Pure Oil pf (8).. Radio Corpof A. Ry Stl Spg (8).. Ray Cons Cop Reading (4) Reading rts. .. Reading 1st (2). Robt Reis & Co. . Remington Type Replogle Steel. . Rep Ir & Steel ... Rep1& S pf (7). Reynolds Sprngs Rey Tob B (3).. Rossia Ins (6).. Royal Dch 1.73 1 St Joseph Ld (2) StL&SanF (5) StL San F pf(6) . St L Southwest. St L Swn pf (5). Savage Arms. .. Schulte (*8). Schulte rights. Seaboard Air L Seabd Air L pf. Seagrave (1.20). Sears-Rebk (6) . Shattuck F G(2) Shell Un (1.40) . Simmons Co (2). Simmons pf (7). Stmms Pet (1) 7 Sinclair O11. Skelly Ofl. Sloss-Shefr (6) South Port S (8) South Pac (6). .. Southern Ry (5) . South Ry pf (5). Spicer Mfg. . Std Gas & E1(3). Std G&EI1 pf (4). Stand Mill (5) .. St Ol Calif (2) StOIlNJ (1) St O1l N J pf (7). Std Plate Glass. Sterling Prod(4) Stew-Warner(5) Studebaker (4).. Submarine Boat. Sweets (uew)... Telautogph 25c. . Tenn Copper (1). Texas Co (3). . Tex Gulf 8 (7%) Tex & Pac C& O. Tex & Pacific. . . Tide Water Oil. . Timken R B (14) Tobac Prod (6). . Tob Prod A (7) Transcont Oil. .. Underwood (3). . Un Bag & Paper. Union O11 (1.30). Un Pacific (10).. Un Tank Car(5) . Utd Alloy Steel. . Utd Cigar (13%) United Drug (7). Utd Ry Inves pf. USCastIronP. USHoft (2).... U 8 Ind Alcohol. U S Realty (8) U S Rubber. ... U S Rub 1st (8). U S Smeltinz(3) USSmpi(2l). Open. High. Low. Close 15% 674 43% 116% 119% 84 81% 31% Keystone T& R. . 20% 119 118% 20% 13 10 314 126 40t B9 35 807 83% 70 32% 9% 8 82 400 94 70% 683 56% 354 68% 152 33 46% 15% 67% 4% 119 119% 8% 32 31% 65 29 64 180 135% 16% 39% 83% 58% 25 81 14% 48 90 9% 81% 89% 51% 42 9% 88 48% 0% 1% 109% % 36% 45% 14% 194 80% 23% 46 102% 23% 21% 25% 103% 74 99 100% 91 334 59% 544 75 57% 2% 17 % 0% 67 48% 10% 8% 12 11% bi% 111% 18% 48% 33 44% 89 101% 4% 49% 46 37 141 125% 29% 81% 130 i 155 39 89% 135% 58% 104, 38 47 16% 67 43% 116% 118% 8% 31% 31 63% 29 64 180 129% 16% 9% 334 58% % 30% 18% 68 53% 67 9% 8 12 11 508 109% 13% 48 33 43% 86% 101% % 49% 46 36% 140% 125% 29 80 129 17 151 38% 8T% 135% “56% 103% 103% 38 38 46% 47 0% Ulk 13% 48% 33 43% 86% 101% 4% 49% 46 36% 141 125\‘ 80% 129 7 152% 38% 8T% 136% BT% lemergency. 1925. “SORAP OLD SHIPS” | oo vonx BONIDS e v Received by Private Wire Direct to The Star Office. UNITED STATES. ISADVIGE TO U. . Marine Architect’s View of Holding On to Useless Mari- time Property. BY J. ROYLE. Special Dispatch to The Star. NEW YORK, August 3.—One of the leading marine architects of the United States today advised this coun- try to drop a useless hand into the discard. William Francis Gibbs, ac- tive head of the firm which recondi- tioned the Leviathan and which had designed the largest vessel the con. struction of which has been under- taken by American shipyards, de- clared that a part of the Shipping Board fleet now laid up in tge har- bors and estuaries of the country is as obsolete as the clipper ships of the last century. This statement was made in connection with controversy which followed the Ford bids for Ship- ping Board vessels for scrapping. Ships Idle and Useless. “The majority of these idle ships.’” Mr. Gibbs said, ““are as useless for the maintenance and upbuildin= of our merchant marine as the percussion cap muskets of the Civil War era would be for equipping our Army to- day. They represent one of the in- dustrial tragedies of the great war. They were built when their building was a marvel of achievement. It was almost a mircale that they could be built at all. It was like building a fire engine to put out a fire after the blaze had broken out, but we did it. “Of course, they look like effective ships and it cost a lot of emergency money to build them in the great But the economic effect- iveness of any machine cannot be judged merely by its appearance or cost of preservation in idleness. Re efficiency must be judged h mechanisms in_service.” Mr. Gibhs made plain that he did not include all the Shipping Board ves- sels in the category of those fit only to be cut up by the acetylene torch the pieces picked up by electric mag- nets and toted off to the furnace. But he made clear the tremendous de- velopments which have taken place in post-war vears in shipbuflding, in- cluding the rotor and the motor ship, the perfection and development of the Diesel engine and other factors. Public Grows Suspicious. “I believe too little informative em phasis has been placed on this mat- ter by the shipping industry. These ships In the scrapping bids are ef fectively only for what can be recog- nized as scrap. There is no doubt that the American public is rather {suspicious of the wholesale junking of ships that can float and whose superstructure looks pretty much like those of other ships which safl the seas. If the public is not in formed of the necessity that this fleet be scrapped, any constructive under standing of American merchant ma- rine will be hampered by the question of why shipping men did not buy ships when they were going a-begging instead of allowing them to be scrapped. “Let these ships be scrapped and then let us face the problem of the future of American shipping. These ships are essentlally junk from an economic standpoint, but until the truth of this {s convincingly manifest to the public, enterprise will be halted and constructive planning will be handicapped and the shipping of the future will be prejudiced to a point perilously close to a disaste Another Instance Gi It is a somewhat far cry to phonographs, but some of the same trends toward “scrapping and build- ing” is evident in the musical in- strument trade, The Victor Talking Machine Co. has cut prices sharply on its prod- ucts. This is understood to be a move to prepare the market for a new combined talking machine and radio instrument, on which the company is now working, and which is intended to fill the Fail trade demand Most of the talking machine manu facturers anticipate that they will cut the number df their models by at least 75 per cent in the next year. VISIBLE SUPPLY OF GRAIN. NEW YORK, August 3.—The.vis- ible supply of American grain shows the following changes in bushels: Wheat, increased 3,682,000, corn, de- creased §32.000; oats, increased 400, ve, decreased 441,000; barley, ed 154,000 FOREIGN EXCHANGE. (Quotations furnished by W.B. Hibbs & Co.) Nominal -~ Selling checks %old vaiue. today. London. pound 48605 S1.85%, Montreal. dollar Paris. franc Brussels. franc Berlin. mark Rome. Lra Zurich, franc Athens. d; Hadrid. peseta Vienna, crown. .. Budapest. crown . . zlof Coenhasen Christ Stackholm. By the Associated Press. EW YORK, August 3.—Foreign exchanges steady. Quotations, in cents: Great Britain, demand, 485%; cables, 485 11-16; 60-day bills on banks, 48135. France, demand, 4.731%; cables, 4.74. Ttaly, demand, 3.65; cables, 3.6515 Demand Belgium, 4.60%: 23.80; Holland, 40.13; Nor- ; Sweden, 26.84; Denmark, Switzerland, 19.41; Spain, 14.46; ce, 1.57; Poland, 18 Czechoslo- 2.96; Jugoslavia, 1.81; Austria, 14%: Rumania, 51%; Argentina, 91.75 Brazil, 11.75; Tokio, 41 5-16; Shangha! 75%: Montreal, 100 3-32 U S Steel (17)... 118% 119% U S Steelpf (7).. 123% 1231 Universal Pipe.. 33% 33% Univer Ppf (7). 75 = 75 Utah Copper (4). 97% 974 Utilities P&Lt A 32% 33% Vanadium (2)... 29% 294 Van Rlte 1st(7). 65% 65% Va-Caro Chem 4 4% Va-Caro Ch pf 13% 13 Va Ry & Power.. 121% 121% Vivaudou - 18% 15% Wabash. 35% 3867 Wabash pf A (5) 704 70% Waldorf (1%)... 14% 14% Ward Baking B, 71% 71% WarrenCo (4).. 48 48 West Maryland. 14% 14% West Md 2d pf.. 22 22 Westn Pac (5a). 20% 20% Un Pacific pf (4) 7% T4% West Unfon (7). 181 132% West Air Br (6). 107 112 Westinghs (4).. 72% 78% Weston Elec.... 14% 14% Weston A (2)... 23% 24% Wheel & L Erie. 19% 20 Wheel & LEpf.. 424 42% White Eagle (2). 2T% 2T% White Mot (4).. 89% 89% White Rock (12) 44% 45 Willys-Overld... 19% 19% Willys-Od pf(7). 104 104 ‘Woolworth (3).. 167% 168% ‘Worthn Pump 41% 41% Wrigley (18%).. 51% Bl% Yale & Town: 69% 69% Yellow C (2.52). 42% 424 Youngstown (4). 78% Td% +0dd lot. 1Partly extra. 1! Dividend rates’ as are the annual o or hal latest quarter] Unless otherwise nof 118% 123% 33% ki3 974 824 294 65% 4 13 120% 15 35% 0% 14% 69% 47% 14% 22 20% T4% 180% 107 2% 14% 23% 19% 41% 27 88 4“ 19% 104 167% 41% 51 69% 42 8% 24% 27 88 4 19% 104 167% 41% 61 9% 42 “ on in” (B Sbove "tapie e tn” the: above Seariy "deciarat xtras or speci 1i idends are not included. . (Bales are in $1,000.) Sales. High. Low. 100 23 100 23 101 24 101 24 100 24 100 24 10112 10115 1023 102 28 102 27 1062 1056 Lib3ls... Lib 1st 4348 Lib2d 4%s Lib3d 4%s. 64 1 41 94 I U S 4s 1944, US4%s 52 34 10116 Lib 4th 4 %s 200 1026 168 10228 8 1066 00 26 01 29 00 28 FOREIGN. Sales. High. Low. Close. Argentine 6s ‘59 Argentine £ Argentli Argentine Aus govt & Bank of Japan 6: Belgium 6s. Bllllum l%l Wi, fum 78 wi Bclxlum % Belgium 8s. Bollvia 8s. . Bordeaux 6s. Brazil 7s. Brazil 8s Canada 53 19 Canada 58 19 Canada 5%s 1 Chile 75 1943 Chile 85 1941 . Chile 85 1946. . .. Chinese Gov Ry 58. Con Pow Japan 7s. Copenhagen 5%s Cuba 5%s Czecho 88 1951 Czecho 85 1952 ct Denmark 6s. Denmark 8 DEI5 DE153s Nov Dutch East I 6547, Dutch East I 65 °6: Finlands 7 French 7s French Tls French 8s. . German Ger Gen Greek 7s. . Haiti 65, Holland Amer 6s Hungary 615, Japanese 4s. Japanese 6. .. .. Jergens U M 65 '47 Mexico 5s assented Netherlands 6s '54. Netherlands 6s ‘72 Nord 63%s......... Norway 58 wi. . Norway 65 1948 . Norway 65 1944 Norway 65 1952 Norway 8s. . 1 Orfent Dev deb 6s. . Paris-Ly’s-Med 6s. Paris-Ly's-Med 7s. Paris Orleans 7s.. Poland 8s°50 wi. .. Prague 748, Queensland 7s. Riode Jan 8s 194 Sao Paulo City 8s.. St of S Paulo rets. . Seine Dept cf 7s. .. Serbs Crot Slo 8s. Sweden 53sct.. Swiss 51 1946 Swiss Confed 8. Toklo 5t Ud Kingm 5% '29. Ud Kingm 5% '3 Zurich 8s. . 95% 96% 96 102% 99'% 9944 85% 91% 98% 10874 106% 96 83% 824 Y8ly 100's 5 102 102% 100% 108% 2 108% 41% 0% 97% 100% 100% 102% 110% 100% 100% 102% 102 93% 90%% 99% 102% 96% 93% 86 96% BYY 92% 83% 9245 100 324 103 108% 82 95% 100% 100% 101% 1104 85 T6% 85 844 884 93% 111 93% 100% 100t 88% B8Y 100'a 102% 116% 67% 7% 1054% 108% 1022 95% 964 96% 102% 99% 99% 85% a1 98 108% 106% 96% 83% 82 97% 100% 102 102% 100% 108% 108 4l 90 97 100% 100 9% 102% 110% 100% 100'% 1024 102 924 0% 99% 1024 MISCELLANEOUS. Am Agr Chem 58 Am Agr Chem 7%s. Am Smit & R 1st 58 Am Smit & R és. .. Am Sug ref 6s. AmT& Tcltris.. AmT&Tecltris. . AmT&Tsf58. .. AmT & T deb5%s. Anaconda 1st 63 Anaconda cv db 7 Andes Cop Tsrets. Armour & Co 434s. Armour Del 513s. Assoclated O1l 6s. . 3 102% 22 46 4 L4 13 . 98 74 40 72 11 39 19 Atlantic Refin 5s. .. Barnesdail s f 8s. Bell Tel Pa 5s Beth Steel pm : Beth Steel 51ax "33 Beth Steel s f 65. Bkiyn Ed gen 5s. .. Brooklyn Union 5s. Calif Pete 6%s. Cen Leth 65 '45 Commonwth P 6s. . Con Coal Md 1st 5s. Con G NY 518 wi. Consumers Pow 5s Cuba Cane cv 7s. Cuba Cane cvd Cuban Am Sug 8 Det Edison 55 '40 Det Edison ref 6s. Dodge wis. ... Du Pont de N Tigs. Duquesne Light 6s. Est Cuba Sug Tis. Empire G & F Tl%s. Goodrich 613s. . ... Goodvear 8s 1931 Goodyear 851941 Hershey 5 v Hershey 6s 1942 .. Humble O & R5%s Tlifnois Bell 1st 5s. Indiana Steel 5s Int Mer Marine Int Paper 5s 47 Inter Paper 6s. KCP &Lt 5s A52. Kan G & El 6s'52.. Kelly-Spring 8s Laclede G 514 Liggett & Myrs 7s Manati Sug s 7348 Mid-Con 635 '40. .. Midvale Steel 5s. .. Montana Pow 5s. .. Mor's & Co 1st 4128 New Eng Tel 5s. v 15d 5s 44 wi. . Y Eden 15t 63%s. Y G E L H&P 5s. Y Tel 6541 Y Tel 6s'49 orth Am Ed 6s... North Am Ed 635s. Nor Ohio T & L & Otis Steel 7. . Otis Steel 8s. Pacific Gas & El 5s. Pac T & T 1st bs. PacT & T 6s Pan-Amer Pete 65. Phila Coref 6s A. Phila & Rd C& 168 Plerce-Arrow 8s. Public Service 6s. . Pub Serv Elec 6 P Serv Gas5% P Serv Gas 5% "64. Punta Alegre 7s. .. 59 Remingtn Arms 6s. Rep Ir & Steel 5s Sinclair Oll 63 Sinclair Oli 6% Sinclair O11 ; SinCOPL6s'28.. Skelly O1] 6%4s. South Bell Tel 6s. . Southwest Bell 5s. Tenn Elec Pow 6s. . United Drug 6s.... U S Rub 1st rf 5s. . U S Rubber 7%s. U S Smelter 6 U S Steel s f 5s Utah Pow & Lt 55. . Va-Car Chem 7s... Va-Car Ch T%sw.. Vertientes Sug 7s. Warner Sug 7s '41. West Elec 5s...... Westn Union 6%s. ‘Westinghouse Willys-Ov 6%s°33. ‘Wilson & Co 1st 6; ‘Winchester A 7% Youngstn S & T 6s. RAIL Ann Arbor 48 . Atchison gen 4s Atlantic C L 1st 4s. Atlantic CL cl 4s.. B &O Gold 4s. . 38 ROAD. 74% 89% 3 9% 1 854% 20 98% .10 92 10 90 7 100% 26 103 81 1024 .22 86 102% Close. 96% 964 96 102% 994 994 85% 9% 98 108% 106% 95% 83% 824 985 1004 102 102% 100% 108% 108% 41% 90% 9T%h 1004 100% 99% 102% 110% 100% 100% 102% * lO:'fi 99% 105% 102 924 874 944 1012 100 1034% 100% 107% 1034 95% 3 100% 96 107% 1044% 99% 104% i A HH J59% 102% 102 84% 98t6 106% 102% 102% 104% 88% 95 1081 88 924 | 100% | 110% T01% 99% 102% 101% 88% 106% 100% 105% 94% 97 9% 920 93'% 100% 112 106% 102 98% 101% 99 4% 89 1% 86% B&O Sw Div 55 ofs. B & O Toledo 4s. Bklyn Manhat 6s. . Buff R& Pitt 4%s. Canad North 6%s. . Canad North 7. Canad Pac deb 4s Car Clinch & O 6s. . Cent of Ga 6s. . Ches & O cv 4148 Ches & O gn 4%s Ches & Ocv 5s. ... ChiB& Q istrf bs. Chi & 121gn bs. Chi Great West 4s. 15 3 84 13 &StPdb4s. .. & StPcv 41gs. &SLPre4ls. *M&StPcvbs. .. C&N W gen 4x. . Chi Rys 5s. . ChiR1&Prf4 Chi Un Sta 4%s. Chi Un Sta 58 Chi& W Ind C& W 153s Cleve Term 5% Colo & Sou 4%s. Del & Hd 1st rf 4 Den & Rio G cn 4s D& Rio G imp 5 D & Rio G Wst 5s. . Det United 43s Erie 1st cons 1s, riegends. ..., rieconv s A. . Grand Trunk 7s. Great North 5s. ... Great North 51gs. . orth gen 7s Havana ERL&P Hud & Man ref 5 Hud & Man aj 5s Iil Central ref 4s 111 C-C St L&D Int Rap Tran 7s. .. i Nor 1st 6s. Lake Shore 45 '28. Louis & N uni 4s Louis & Nash 7s. Manhat Ry en 4s Market St Ry 7s. MSLP&SSM 545, MK&T s B Mo Pacific gen 4s.. 2 Mo Pac 5s 196 Mo Pacific 6s. .. Mo _Pacific 6s cfs. ¥ Cen gen 3igs. . ¥ Cent 4538 ¢ Cent r i 5 [ Cent deb NYC&StLadbis. hi & St L 5% Y C&StL6sA ew Haven cd 6s. . Y Ont W ist 4s. . N Y Rys 65'65. Norfolk & W cv 6s. Northern Pac 3s. .. Northern Pac 4s Northern Pac 55 D. Northern Pacr i 65 Ore Short L ref 4s. Pennsyl con 41 s Pennsy! gen 43s. . Penn: E Pennsyl 5s *64 Pennsyl 6% Pennsyl gold Por RL &} Reading gen 4135 Rio G West cl 4% RIArk& L 4%s.. SUL IM&S 452! StL&SFplis StL&SF prin5s. SIL&SF5%sD. StL&SFadj6s.. StL&SF inc 6 StL&SKFpI6sC.. StLSW Ist4s StL SW con 4s°32. eabd A L ref 4s. Seabd A L adj 5s. . cabd A L con 6s. . Sou Pacific 45 '29. Sou Pacific ref 4s. . Southern Ry gen 4s Southern Ry 1st 53 Southern Ry Southern Ry 6 Third Ave ad Union Pac 1st 4s Union Pac 1st rf Union Pac #s Union Pac cv 6s. . . Virginia Ry 1st s. Wabash 1st bs. Wabash 5155 75, Western Md 4s Western Pacific 55. Whel & LErf 4135 @ ar oo neeollonbuswe~E8heanh calulfornaiial o By the Associated Press. Grain exports from els, compared with the previous week. partment figures today lowing comparisons before: Wheat, against 964,000; 294,000; orn, 186,000 against .000 against 596,000. 1,437 rye, ed to 1,070,000 bushels 000 the week before, ports of wheat wh flour New York Exchange NEW YORK, August vear, year, with the carry-ove would make ove consumption next Bartlett, jr., former year, eotton market. ““The ernment {north and west Texas. prospect to an extent high as 500,000 bales.” 000 from Sales. High. Lov:. 96% 2% 89%a 85% 17 116% 79% 107% 103 97% 905 106, 101% 734 62% 48% 48% 484 the ile FINANC NVESTMENT BOND TRADING 15 DULL U. S. Government Issues Lower, With Treasury 4 1-4s Showing Largest Loss. BY GEORGE T. HUGH Special Dispatch to The Star. NEW YORK, August 3.—Invest ment bonds continued dull and heavy at the start of trading for the week, further hardening in time money hav- ing an adverse effect. United States Government obligations as a rule were lower, with the Treasury 4%s show. ing the largest loss. There was not much change in prices on actual trans- “lactions in high-grade corporate se- curities, but there were few bids for large blocks. If the price were low enough insurance companies would buy, but they manifested no interest inofferings around recently prevail- ing levels. Rails Have Better Market. For speculative and semi-speculative bonds there was a better market, es. pecially in the rails. Seaboard Alr {Line adjustments were actlve and | strong around 82 and the St. Louis- n Francisco adjustments above 92 here was a special run up in New York, Susquehanna and Western § Norfolk Southern refunding |went up a half point. Improvement j was registered also in the New Haven| s, both maturities. Florida, Western nd Northern 7s, which had such a sensational rise last week, reacted somewhat today The feature among the industrials national Mercantile Marine 6s, which there was no ready explanation ugar bonds were steady. Eastern Cuba Sugar 7i4s dropped below 104 and then recovered. Chile Copper bs did better, but there was practically no change in the Anaconda issu French Bonds Advance. In the foreign group French bonds advanced fractionally, but so far there { has been no response commensurate with the improved sentiment in Paris as represented by the rise in the French internal loans. French 8s at were 2 points below the high of r. It is now less than a vear before at least $4,000,000 par value of these bonds will be called for redemp- tion by lot at 110, the earliest possible 2| date on which bonds may be drawn BOOST IN GRAIN EXPORTS. 3.091,000 Bushels Shown in Last Week's Shipments. United States last weeek were 3,091,000 bush- 2,393,000 bushels Commerce De- gave the fol- between week’s exports and those of the week bushels 520,000 against oats, 353,000 against 401,000; 138,000; barley, last Canadian grains exported through United States ports last week amount against 1,385, total ex- North America last week were 205,000 bar- rels, against 143,000 barrels. SEES BIG COTTON TOTAL. Estimates 17,000,000 Bales Available. 3 ®P.—A r from = cotton crop of 14,000,000 bales this last 17,000,000 bales of American cotton available for Edward E. bullish he esident of the New York Cotton Exchange, pointed out today in his weekly review of the en- thusiasm which followed the last Gov- condition report,” “has been dissipated within the past few days by the mdst important de- velopment of good rains in Oklahoma, said, These rains =t v have been sufficiently copious to com- | pletely break the drought in these im- portant areas, and have improved the estimated as SHOBT TERM SECURITIES. Adirond, P. & L. C. g 1020, Co. of Amer. 7s 1; Sagar 6s 103 45 10 Anaconda. Copper 6 192 Associated Oil 6s 1935 Baltimore & Ohio 6s 1020 Bethlehem Steel 5s 1936 l(‘en al_of Georgia 6 | Cht. Chi’. R. City’ of Lyons 6s 1054 Columb. . & E. st bs 1027 Continental G. & E. by 1027 Erie R. R. C 26 Federated Met: Eraet o herm s 1086, Guit Ol Corp. Pa, 514s 1428 R i 37 GRS 35 RBao02a: PEEE FFE P FRREEES 252! 325 (Quotations furnished by Redmond & Co.) -9,_ £t sizgs B T DBB = DS D DD D S 5932325335532 3233 CIMNEEE FRRSREE SSSERSEEE being March 15, 1926. A bond bought {at today’s market price and called by lot in March next vear would yield over 22 per cent Among the day’s new offerings was $6,500.000 Van Sweringen Co. 10-year first and collateral cq at par. CHICAGO GBAIN MARKET. crop estimates suggesting a total vield of about 660,000,000 bushels of wheat in the United States this season gave a decided upward swing to wheat prices today. The little in excess of domestic require ments. Another private estimate put the total at 672,000,000 bushels. Crop damage reports from Saskatchewan province in nada tended also to lift values and led to buying, in which houses with foreign connections were prominent. The opening, _which ranged from half to 2 cents higher, September 1.54% to 15413 and De cember 1.54% to 1.55%. was followed by a further advance that carried September to 1.55 and December to 1.35%. L‘oh‘rn and oats sympathized with wheat strength. After opening at half_cent to 1 cent higher, September 74 to 1.05%%, the noon market con- tinued up grade, September touching 1.055 Oats started at a shade to half cent gain, September 41% to 41%. Addi- tional upturns ensued. Influenced by a rise in hog values, the provision marker was firmer. WHEAT— Open. High. Low. Clos September . 1.54 December .. 1 May s “Bory_ September .. 1 December May OATS— September December 232 22 P~ 2 s o s 23 2y e Zio ke 22 et 20 Wik g2 ke GRAIN AND PROVISIONS. Special Dispatch to The Star. BALTIMORE, Md., August 3.—New { potatoes, barrel, 2.2526.50; culls, 1.50 22.00. Beans, bushel, 25a1.00. Beets 100, 2.00a3.00. Cabbage, 100, 8.00 al12.00. Sweet potatoes, barrel, 3.00 28.00; yams, barrel, 5.50a6.50. rots, 100, 4.00a5.00. Corn, dozen, 20 a30. Celery, crate, 2.5023.50. Cucum bers, basket, 15a25. Eggplants, bas ket, 1.00a1.25 Lettuce, crate, T5al. Lima beans, bushel, 1.75a2.25. Pea: bushel, 1.25a2.00. Peppers, baske! 4.0025.00. Onions, bushel, 1.75a2.75 Squash, basket, 15a25. _Tomatoe hamper, 75a1.15; green, 50a75. Apple barrel, = 1.00a3.50: _bushel, 50al.50. Peaches, bushel, ." Damsons, basket, 75a1.00. Cantaloupes, crate, 90a2.50; basket, T5al.25. Blackberries, 15a18. Huckleberries, quart, Plums, basket, 50a75. Water: melons, each. 25a Selling Prices at Noon. Wheat—No. 2 red Winter, spot, do- mestic, 1.58%; No. 2 red Winter, gar- licky, 1.52%. Sales—Bag lots of new at wharf sold at range of .1.42 to 148 per bushel. Cargoes on grade, No. 2 red Winter, garlicky, at 1.52%; No. 4, 1.44%; No. 5, 1.48% Corn—Cob, new, yellow, spot, and 6.50. nominal, per barrel; rellow, No. 2, 1.27. : No. 3, 54. new 1.10 and . 2 rye, spot, no quotations. Hay—Receipts, 6 tons. Prices on old hay are more or less nominal, there being no stocks on hand of the better qualities of old timothy or light clover mixed. The new hay that has thus far arrived on the local mar- ket has been more or less heated and all stock arriving in this condition has no_definite market value. Quotations today—No. 2 timothy 50a19.00; No. 3 timothy, 16.00a17.5! No. 1 light clover mixed, 17.50a18.0 No. 1 clover mixed, 17.00a17.50; No. clover mixed, 14.00a15.00. Straw- 0. 1 wheat, 12.50a13.00: No. 1 straight rye, 18.00a18.50; No. oat, 12.00a13.00. 1.20; GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Asked. 600.00 130.00 8.00 Ham 3s. 3% s & 48 b Hamburg Amer Line North German Lloyd North German Lioyd. Pruesian Consols 33 Krupp be 19 abdort 4a pre-war rankfort a-M £323333233225333223 BAR SILVER PRICES. \I3W YORK. August 3.—Bar sil- A un dolars, 55%. was the persistent weakness in Inter-| for | CHICAGO, August 3 (#).—Unofficial { amount named is only a | Car- | - | tember, IAL. BANK BORROWING SHOWS SLIGHT DROP Federal Reserve Institution of Richmond Reports Rise in Cash Deposits. BY CHAS. P. Volume of member bank borrowing at the Federal Reserve Bank of Rich mond declined slightly during the month between June 15 and July from a total of $52. $475,439,000, and member bank reserve deposits rose from $64, 040,000 to $66,150,000 between the same dates, the Institution stated today in an official review of the period The changes in the items mentioned caused the cash reserves of the Rich- mond Bank to rise from $78,208,000"to $83.283,000 within the month, and brought a_corresponding increase in the ratio of cash reserves to combined note and deposit liabilities from 40 per cent on June 15 to 60.97 per cent on July 15. Comparison of July’'s figures with those for the corresponding period of last year presents an interesting studs On July 15. 1924, member bank bor- rowing at their regional member to- taled $44,934,000; member bank re serves on deposit totaled $59.425.000 Federal Reserve notes of the Federal nk in actual circulation totaled §71,- 000 on July 15 last year and onl | 869,637,000 on the corresponding d this vear. The cash reserves last vear amounted to $88.9 )00 and the reserve ratio to 66.61 per cent Business Relatively Better. Business throughout the district is found to be relativelv better, and correspondents in practically all lines are optimistic on prospects for the second half of 1925. The three out standing unfavorable factors hover ing over the business horizon a year ago, while not erased entirely, show decided improvement. Depression in textiles continues, but is distinctly less marked than last vear. Bitumi nous coal mines in West Virginia are producing more coal than at this time last year, and the State appes to occupy a stronger position in coal mining indust n any o State. The agricul out better than last year, when tionally late Spring and excessive rain had delayed planting and cu vation of the growing crops. J weather was too dry this yea most of the fifth district, and tain sections, especially Virginia suffer serious losses in vield unless general rains fall, but on the whole the dry weather has probably been more helpful than otherwise this vear, providing a powerful weapon to_combat boll weevil Bank depo: e higher than ever before, the purchasing power of the district, and labor con tinues well employed at good wages. N excer Washington Exchange Trading. An inauspicious session marked week’s initial meeting of the Wash- ington Stock Exchange. Trading was réstricted to the minimum in favorit issues, but prices were at their peak: Washington Railway and Electrice preferred was the mo: active stock, but only 26 shares changed hands, at 84. Lanston was unchanged in odd lot sale at 847, and 20 sha; of Yellow Taxi bought 2213 Capital Traction brought par and an eighth Bonds were strong. Traction sold at 98% and City and Suburban 58 at 85. Railway fours, which ma- ture in 1951, sold at 79%s The fonal Savings & ¥rrust Company is now using the additional space made possible by the property formerly institution on New which s been in proc struction for the last year. vation gives to the trust the largest floor area of a | Washington While the change pleted, nor will it terminate period, th ditions formerly existing have been relieved, and spacious, well ven- tilated and lighted qua are seen instead. The trust department of the institu tion has been removed to the side of the extended lobby, and a new business department will be installe at the old location. Private offices the vice president, treasurer and sec retary and the note, savings bookkeeping departments will all | have their quarters in the new addi tion. Bond Club Adds to Membership. The Bond Club of Washington cently formed. has heen augmented by three new memberships, wt | brings the total to 14. Those join recently include (. J. Morgan, jr C. F. Childs & Co.. Frank Hall Graham, Parsons & Co., and L. Proctor of Alexander Brown & Sons The first business meeting of the new organization will be held in Sep Charles Carroll Morgan, | president, states. Directors of Chapin-Sacks Ice Cream Co. are today payving the regular quarterly dividend of $2 a share on the 8 per cent preferred stock of the {company. The business of the com pany continues at its greatest peak an official stated this morning Albert P. Maderia of John L. Ex wards & Co. returned to business this morning after a week with his family in Maine. Earle M. Amick. as sistant cashier of Riggs, also returned after a month spent on adjacent golf links, while Raymond G. Marx, audl- tor of the bank, departed on an auto- ctllsans farit s ination The reno- compan ¢ bank i is be not vet com for an inde- cramped con- ters of CHICAGO LIVE STOCK MARKET CHICAGO, August 3 (United States Department of Agriculture).—Hogs { Receipts, 29.000 head: 15 to 25 higher than erage; big packers inactive; bulk de- sirable 160 to 225 pound weight, 14.29 al14.35; top, 14.40; majority of 240 1o 325 pound butchers, 13.80a14.10; bulk better 140 to 150 pound kind, 14.00a packing sows largely 12.15a '50: strongweight _slaughter pigs, 15.50n13.75; heavy-weirht hogs. 13254 14.15: medium, 13. 40'114 50: light, 13.00 al4.40; light lights, 12.75a14.35; pack- ing sows, 11.85a12 slaughter p 13.00a14.00. Cattle—Receipts, grades fed steers scarce, steady; all weights in broad demand: welghty kind commanding a premium: light-grade yearlings very scarce; 15.20. paid for 1,158-pound av- erages; best matured = stee 5 yearlings, 15.10; lower grades slow tendency weak to lower; bulls steady to strong; vealers about steady; mostly 11.00a11.50; few at 12.00. Sheep—Receipts, 2,200 head; slow, fat lambs around 50 lower: spots off more: bulk natives, early, mostly 14.75 215.00: sorted, cwlls around 11.00; no Westerns sold; sheep, 10 50 low- er: bulk fat ewes, heavies, down to 5.00. NEW Y‘ORK PROVISIONS. NEW YORK, August 3 (®).—Flour, Spring patents, 8.50a9.00; soft straight: 15a7.60; hard Winter straights, $.25a8.75. Rye, firm: No. 2 Western, 1.10 f.o.b. New York, and 1.08% c.if. export. Barley, steady; malting, 1.07%a 1.10% c. i. . New York. Pork, quiet; mess, 41.00; 44.00245.00. Lard, easy; Middle West, 17 Tallow, duil; special loose, V. slow: mostiy aturday's av 000 head: better comparatively