Evening Star Newspaper, August 11, 1925, Page 20

20 ¥ FINANCIAL. STOCK MOVEMENT EXTREMELY MIXED Railway and * Equipment Shares Most Prominent on the Up Side. NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office High. Low. Close. 91 91 91 164 154 57% 57% 10 10 1034 103% 12 124 92 96% 82 82 21 21% 61% 61% 37% 3% 31% S1% 116% 117% 110% 110% s 224 2324 121 121 1023 103% 23% 23% 5% 5% 135 135 41% 11 118% B4% 34% 79 12 50% 115 Open. Adams Exp (6).. 91 Adv Rumley.... 15% Ad Rumley pt(3) 58 Ahumada (t1).. 10% Air Redue (4) 104 Ajax Rubber.... 12% Allied Chem (4).: 98 Allis Chalm (6). 82 * Am Agricul Chm 214 Am Ag Chmpt.. 638 Am Beet Sug(4). 88 Am Bosch...... 81% Am Brk Shoe(5) .. 116% Am B Shoe pr(.) 110% Am Can (17)..,. 224% Am Canpt (7). 121 Am Car&Fdy (8) 102% Am Chain A (2). 23% Am Drug (60c).. 5% Am Express (). 135 Am & For Pow.. 48% Am Hide & Lea.. 11 Am Ice (7).. 119% Am Internati... 85% Am Linseed..... 33% Am Linsd pf 3% . 80% Am Loco (118).. 112 Am Metal (3)... 50% Am Metal pt (7). 116 Am Radfator (4) 110 Am Safety R (3) 61% Am S & Ref (6)." 107% Am Stl Fdys (3). , 39% Am Stl Fy pf(7). 111 AmSugar...... 66% Am Sugar pf (7). 98% Am Sumatra 9% Am Tel&Ca (5).. 40 Am Tel&Tel (9). 139% Am Tobacco (7). 97 Am Toba B (7).. 97 Am Tobac pf (§) 106% Am Typ Fdrs(8) 117 Am WW&E!1.20 64 Am Whol pt (7). 98 Am Woolen..... 40% Am Wool pf (7). 864 Am Writ Pappf. 24 AmZine........ Th Anaconda (3)... 42% Archer-Danlels. . 86% Arch-Dan pf (7). 98 Armour I A(2). 22% Arn Cons&Co... 11% Asso Dry G(2%) bl% Asso DG 1st(6). 96 Asso Of1 (2)..... 3T% Atchison (7).... 121% AtIBirm & At... B% Atlantic C L(18) 181% AtIGUIL&E W I.. 49% Atlantic Refing. . 105 Atlas Tack 10 Austin-Nichols. . 27 Austin Nic pf(1) 92 . Lobw. Close. 107% 107% 164 16% 0% T0% 28 28% 974 98% 4% 4w 28 204 81 81 45 45 294 29% 1874 189% 42 42 137 137 45 45 40 40 634 63% 21% 21% 824 824 624 64% 18 18 116% 116% 24% 247 18 T 260 41% 27% 14% 674 4T% 114% 119 30% 31 64% 17 87% 180 1324 19% 88 84% 59% 28% 17% Goodyr pr pf (8). Granby Consol. . Grt North pf (5) Gt Nor Ore (1).. Grt Wstn Su (8). Guantanamo. . Gulf Mo & Nos Gult States S (5) Hanna 1st pf (1) Hartman (2%).. Havana Elec (§) Hayes W (1334). Hocking “7alley. Homestake (4). Household P (3) Houston 0il Howe Sound Hudson Mn (2%) Hudson Mot (3). Hupp Mot (1). Tllinots Cen (1) Indep ONl (1). Indian Motorey . Indian Refining. *Ingersoll R(8). Inland St (2%).. Interub Rap Tr Internat Agri Int Cement (4).. Int Com Eng (2) Internat Har (5) Inter Har pf (7). Int Mer Mar pf.. Int Nickel b Int Paper. . Int Paper pf (6) . Intl Paper pf (7) Int Shoe (5).... Int Tel & Te Jewel Tea...... Jordan Mot (3) Kan City South. Kan C So pf (4). Kayser (Jullus). Kelly-Spring. Kennecott (3). Keystone T & R. Kresge S S (8).. Lehigh Val (53%) Liggett & M (14) Lig & My B (14). Lima Loco (4).. Loews Inc (2). BY STUART P. WEST. Special Dispatch to The Star NEW YORK, August 11.—The Stock Exchange movement today was extremely mixed. It reflected a wider range of opinion regarding speculative operations than has existed for some time In some quarters much was made of the current high average of prices and the huge total of brokerage loa On the other. hand, the reactiona tendencies which were displayed were looked upon as only natural following so extensive a rise. But the latter view recognized continuance of easy money and the fact that margin counts are in comparatively satisfac- tory shape Railways and Equipments. Up. The railway and equipment shares were the most prominent today on the up side. The buying of the rails, of had a favorable effect on the 4 mpanies which supply the h equipment, and inasmuch Pullman, Baldwin 139% 96% 96% 4 106% « 11T% 60% 98 3914 864 2% T% 417 364 98 22% 11 514 96 87 129% carriers wi as such issues as Locomotive, American Locomotive and American Car and Foundry have not ipated in the Stock Exchange ad- e to any appreciable extent, this field seemed to offer fresh opportunity it. The first six months' earn railway equipment producers were as a rule poor. In the railway section new high records were made by Chesapeake 1 Ohio, St. Louis-San Francisco Missouri Pacific preferred. Rumors of a dividend mcrease were still the chief incentive for the buy- ing in Frisco. Jersey Central jumped about 10 points, Delaware, Lacka- wanna and Western also was strong, Reading was conspicuous on the side. General Rallway other remarkable uprush. It was fast | approaching the 300 level. Amerscsn; Can was another star performer, and 3 80 was General Electric. General |AutoKnitter.... 1% Baking gained several more points|BaldwinL (7)... 113 on talk of an impending baking com- | Balto & Ohlo(5). 78% pany merger. All these high-priced | Bang & Ar (3)... 42l issues struck their best figures.|BarnsdallA..... 20% American Linseed common and pre- | Barnsdall B. . 16% ferred also surpassed their previous|Bayuk Clgar.... 39t tops for the vear. The publication | Beech Nut(2.40). 724% of the Virginia-Carolina Chemic: e~ | Bethlehem St1 42% organization plan overnight was.fol- | Beth Stipf (7).. 95 lowed today by a partial recovery in | Booth Fisheries. & the stocks | Booth P(sh 1st.. 39 The oil gr:e‘z;l;{n(l%) 3% weake: rou: The Pan-Americans | British Emp 1st. fell back sharply, and there were |BKl Edison (8)...138 . losses of a point points in such Bk’;:fl'fl_r'l‘f;fl' . 55* stocks as Texas Co., General Petro-|DlMan pI(6). 78% leum, Pacific Oil, Marland and Mara- [ Bkl Unlon G(4). 88% 1ibo. Profit-taking and short selling | Brown Shoe (4). 109 ¥ S '€ | Brunswick-Balk. 28 affected some of the motor und tire | EUp*RGTRY T3y Burns Bro (10).. 101 MARKET HA Long Bell A (U Lorillard (3). Loulstana Ofl.. . Louis & Nsh (6). Louisville Gas A Ludium (2) McCro B (1.60) Mclntyre P (1) Mack Trucks (6 Mack Trk 2d pf. Mackay pf (4)... Magma C (76c) . Mallison & Co Mallison pt (7) Man-Elev gtd. .. Man Emd g (5). Man Shirt (134). Mantl2 E1 (2%) . Maracatbo Ol. .. Market St 2d pf. Marland O (75¢) Malin Rock (1).. Martin-Parry (2) Mathieson Alka. May Dept St (5). Metro Ed pf (7). Metro G pf(1,89) Mexican Seabd. . Miami Cop (1).. Mid-Continent. . Middle States. .. Midland P pf (19 M St P & SSM pf MStP&SSM 1i(4) Mis Kan & Tex.. MK&TDpt (5). Missouri Pacific. Missourt Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3). Mother Lode 75¢ - MotorWhe(1.60) Murray B (12.40) Nash Mot (116). Nat Biscult (3). Nat Biscu pf(7) . t Cloak (4)... t Dairy (3) t Distillers Nat Distillers pf Nat Enamel & S Nat Lead (8). .. Nat Supply (3). Nevada Copper. N Y Alr Br (4).. N Y Canners (2) N Y Central (7) NYC&StL (6) NYC&StLpL(8) N Y Dock. N Y Dock p! ). N YN H & Hart. N Y On&Wn (1). N Y Shipbld (2). Norfolk South. . Norf & West (7) Nortk Am (3.40) North Am pf (3) North Pac (3) unnally (1)... Onyx Hostery Oppenheim (3).. Orpheum (1.80). Orpheum pf (8). Otis Elevator (6) Otis Steel. Otis Steel pt. ... Owens Bot (3).. Pacific Gas (8).. Pacific Ol (3) Pac T&T pe(6). Packard (11.70) . Paige Mot(1.20). Pan-Amer (6) Pan-Amer B (6). Pan-Amerrts. .. Park & Tilford. . Penick & Ford. . Pennsy R R (3). Penn Seab Steel. Peoples Gas (8). Phla Co (4)..... Phila& RC &I Phillip Morris. Phillips Pet (2). Phoenix Hoslery Pierce-Arrow. .. Pierce-Arrow pf. Plerce Oil...... Plerce Petrol. . Pitts Ut pt $1.20. Pitts U cfs 11.20. Postum Cer (4). Press Steel Car.. Pr St Car pf (7). Prod & Refiners. Pub Se E&G pt 6. Pub Ser N.J.(5). Pub SNJ pf (7). Pullman Co (8).. Punta Aleg Sug. Pure Oil (1%).. Pure Oil pt (8)..+ Radio Corpof A. Ry 8t1 Sp& (8).. Ray Cons Cop... Reading (1) Reading rts. Reading 1st (2). Reading 2d (2).. Robt Reis & Co Remington Typ Replogle Steel. . Rep Ir & Steel RepI&Spt (7). Reynolds Sprngs Rey Tob B (3)...{ Rey Tob pf (7).. Rossta Ins (8).. Royal Deh 1.78% St Joseph Ld (2) St L & San F (5) StL San F pf( St L Southwi St L Swn pf (6). Savage Arms. .. Schulte (*8).... Seaboard Air L. Seabd Air L pf.. Seagrave (1.20). Sears-Rebk (6). Shattuck F G(2) Shell Trans 2.16. Shell Un (1.40) . Simmons Co (2) .- Simms Pet (1). Sinclair Ofl..... Skelly O11. Sloss-Sheff (6): . South Por pf (8) South Pac (6). .. Southern Ry (5). South Ry pf (5). gnal had an- shares again were the to Burns Br B (2).. 23% Burns prpf (7). 114 Bur Add Ma (3). 95 Bush Ter de (7). 86% Butte Cop (50c). 6 Bultelfiup (l)- 10% Butterick. 19% Caddo Central... Cal Packing (8). Cal Pete (2). . Callahan Zine. .. Calu& A (12%). Calu & Hec (50c) Can Pacific (10). Case Threshing. Case Thresh pf.. Cent Leathar. .. Cent Leather pf. Cen RRofNJ $12. Century Rib (2). Cerro d Pasco(4) Certain-Teed(4). Certain-T 1st(7) 100 Chandler (3).... 30% Chees&Ohlo (4). 101% Ches & O ctfs 101 Ches&O pf(§3%). 111 Chi & Alton. Chi & Alton pi Chi & East Il p: Chi Grea i Chi Gr West pf.. Chi Mi1 & StP. .. Chi Mil & StP pf. Chi & Nwn (4).. Chi PneuT (5).. ChiR1I& Pac. C StPM&OPL(5) . Childs (12.40)... Chile Cop (2%). Chrysler Corpn. Cluett Peab (5). Coca-Cola (7)... Col Fuel & Iron. . Col G & E (2.60). Col Carbon (4).. Com Inv (2.50). . Congoleum (2).. Consol Cigar Consol Distri Consol Gas (5).. Cansol Téxtils Cont Can (4) ... Cént Mot (80¢) . . CornProd (2). .. Crex Carpet (4). Crucible Stl (4). Cructble pf (7).. Cuban Cane Su. . Cub Cane Su pf.. Cub Am Sug (3). Cuban Domin. Cudahy Pkg (7). Cuyamel Fr (). Daniel Boone.... Davison Chem Deere&Co pt(5). Del & Hud (9)... Del L & Wn (17) DRG Wstpf... Dodge Bros Cl A Dodge pf.(7).... NEW YORK—Stocks irregular; Gen- | Dome Mines (2 eral Railway Signal soars 43% points | Doug Pectin (1). o 300 Dul S S & Atlan. onds y; Virginia-Carolina | Dupont (10). Chemical issues at new highs. DuPont deb (6). Foreign exchanges firm; Scandl | gageman (18). .. navian currencies higher. Baton AXIc (2):4 Cotton steady; trade support. Elec Powr & Lt.. 88% r easy; lower, spot market. EIP&Lpf (1).. 924 Coffee weak; large arrivals expected. | 5 par, pf 40% pd 108% CHICAGO — > Elec Str Bat (4). 64% Government report. . " cuki Pearish | Emmerson Brnt. 3% Corh e i Emmerson B pty 20 o A s ) ]‘hl(h\» wheat. End John (5). ... 6% jattle irregular; choice grades firm. | £140/01or'(75" 116 Erie RR 31y e Erfe ctfs. . 30% Erielstpf...... 41% Erle 2d pt. ) Falrbanks Co. 3 Fairbks (2.60).. 45% Famous P1 (8).. 108 Famous Pl fu pd. 105 Feder Lt (11.40). 80% Fed Minpt (7).. 68% First NatP pf(8) 101 ¥isher Body (5). 81% Fisk Rubbs . 2% Flelschmann (4) 98 Foundation (8).. 126% Freeport-Texas. 17% Gardner Motor.. 9% Gen Am Tnk (3). 45% Gen ATC pf (7). 102% Gen Asphalt.... 58% Gen Asph pf (5). 95% Gen Baking (6). 170 Jen Clgar (8)... 89% Gen Electric . 810 Gen El spec 60c. 11% 11% Gen Motors (6).. 98% 93% Gen Mot pf (7).. 112% 113% Gen Petrm (2) 49 49 Gen Ry Sig (6)..263 300 Gimbel Bro 64 b4 Gimbel Br pf(7). 107 107 Ginter (134). 461 46% Glidden Co. 28% 23% Glidden rights W % 424 S SURPRISES. Conflicting Price Movements During Day With Irregular Closing. By the Associated Press. NEW YORK, August 11.—Highly conflicting price movements developed in today’s stc market. The Leneral[ market developed a reactionary trend in the early trading when seiling pres- sure was renewed against the oils, motors and public utilities, rallied under the leadership of the east. alers and southwestern carriers, but became spotty again in the clo ing dealings because of the uneasi- s created by the violent fluctua- tions in high-priced industrial issues. Total sales approximated 1,500,000 share: Irregular price movements charac- terized the opening with most of the standard industrials and rails_show- only minor changes in initial ctions. United States Realty, 1] Electric and Radio Cor- ion opened 1 to 1% points higher and Norfolk and Western and "o common each duplicated their 3 highs on initial sales. Jersey Central jumped 4 points. Bullish demonstrations were soon started in the specialties. General Rallway Signal soared over 14 points to a new record top at 270% on pub- lication of a semi-annual earnings statement showing net profits about double those of the corresponding period last yvear. Jersey Central quickly extended its gain to 9 points and General Baking moved up nearly 4 points to’'a new top at 172 before the end of the first half hour. New peak prices also were establish- Missouri-Pacific preferred, n Linseed and American Can, the last named crossing 225. Good buying was noted in General Electric, Foundation Co.. Atlantic Coast Line and Tobacco Products A Briggs Body was one of the few early weak spo Foreign exchanges opened firm, with sharp rallies of 15 points each in Norwegian and Danish-kroner as the feature. Demand sterling ruled around and French francs he % 1145 27% 235 50 15 142 4% 88 18 60% 290 82 52 53% closing ean Can jumped to hour and was followed ground by inghouse A ie, Coca ( broke 4 to gular. Ameri- . in the final . but Hav. la and Atlantic : points. Refining 104% 148% 140 39 26% 82% 14% 21% 3% 144 100 107 18% 865 9244 108% 64% 4 21 68 116 81% 30% 42 89 3 45% 108 1064 80% 58% 101 81% 21% 98% 127% 17% 9% 45% 102% 58% 95% 176% 89% 816% 148% 139 39 26% 824 14% 21% 3% 144 100 106% 18 64 . 3% 20 674 116 80% 80% 40% 39 38 45 106% 105 20 8% 101 80% 21% 9% 125 16% 9% 45% 102% 524 95% 170 89% 809% 11% 92 112% 474 263 b4 107 46 22 “ BAR SILVER PRICES. NEW YORK, August 11.—Bar sil- ver, 6397; Mexican doilars, 537. 89 3 45 107% 105% 29 58% 101 80% 21% 97% 126 16% 9% 45% 102% 2% 95% 172% 89% 315% 11% 93 112% 47T% 290 54 107 46 22% % 424% 424 Bullding in San Jose, Costa Rica, is | Goodrich Ru (4). b4 B43; B53% 53% so active that there is a scarcity of |Goodrich pf (7). 99% 99% 90% 99% Jumber and other bullding materials, | Goodyear pt (T). 103is 103% 1034 1034 LONDON, August 11.—Bar 321,d per ounce. Money, 3% per. cent. Discount rates—Short bills, 4a4 1-16 per cent; three months bills, 4 1-16a 415 per cent. silver, BOURSE LIST IRREGULAR. PARIS, August 11 (P).—Prices moved irregularly on the Bourse today. Three per cent rentes, 47 francs 30 centim Exchange on London, 103 france 50 centimes. Five per <cent loan, 38 francs 80 centimes. The dol- Jar was quoted at 21 francs 29 cen- times. CALL MON’EY RATES. W YORK, August 11.—Call money steady; high., 4%: low, 4%; ruling rate, 4%; closing bid, 4%: of- fered at 4% last loan, 4% call loans against acceptances, 3%: time loans firm: mixed collateral, ' 60-90 day: 4a41,; 4-6 months, 4%a4%; prime com: mercial paper, 4. . | Studebaker (4).. BONDS SHADE HIGHER IN MARKET DEALINGS Funds for Longer Maturities Loan- ed at 4 3-4—Treasury Issues Show Slight Change. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, August 11.—Prices were a shade higher in the bond mar- ket today, and this notwithstanding a firmer tone in money. Funds for the longer maturities were loaning at 4% per cent, There was little change in the Lib- ertys or the Treasury issues, but some of the high-grade ralls were fraction- ally higher, including New York Cen- tral 55 and B. and O. first 4s. In the rall group the Missouri- Kansas-Texas adjustments were the favorites, being taken in large blocks above 91. The expectation is that the Missour{-Kansas-Texas preferred will be put upon the full 7 per cent divi- dend basis to which it is entitled. St. Louis-San Francisco incomes and Chesapeake and Ohio convertible 5s were other strong rallway lssues. Buying appeared also in Chicago and stern Illinols s, Chicago Great Western 4s and Denver and Rio Grande Western 5s. Among industriais the most inter- est attached to Virginia - Carolina Chemical 714s, in which trade was brisk, with an_ extreme gain of over 4 points. Under the reorganization plan published today, each of these bonds receives $1,225 par amount of participating preferred and 20 shares of common stock of the new com- pany. The first 7s, which recelve $510 in cash and $595 par amount prior preference stock, were steady around Monday's high. With the exception of Empire Gas and Fuel 7%s, oil bonds were heavy, in sympathy with ofl stocks. Cuba Cane Sugar 8s broke below par. For- elgn bonds were steady. An_unconfirmed report had it that the Pennsylvania Railroad was buy- ing & block of Norfolk and Western stock, subsequently to be utilized as collateral for a bond issue, the pro- ceeds of which were to go in part to pay for the acquired shares. New offerings included $3,000,000 Laclede Gas 10-year 5% per cent notes to yield 5.70 per cent, all of which were promptly sold, and $2, 000,000 60 Park place office building (Newark, N. J.) first 6s, to yield 6.12 per cent. METAL MAmT NEW YORK, August 11 (#).—Cop- per firm; electrolytic, spot and futures, 14%. Tin easy; spot and nearby, 58. futures, 58.50. Iron steady; prices un changed. Lead strong: spot, 9.00a 10.00. Zinc steady: East St. Louts, spot and futures, 7.57a7.60. Antimony spot, 18.00a18.25. BOST(;I WOOL INACTIVE. BOSTON, August 11 (Special). Trading was again marked by inac- tivity today. The demand for worsteds has caused wool men to watch the Australian sales closely and if the Melbourne sales show strong prices it may have some influence toward strength here. Fine !laple territory, Obhio delaines and 12-month Texas were about unchanged. Three-eighths blood was quoted around $1 to $1. clean with quarter blood at 90 to 95 cents. Northern California was held at $1.25 to $1.30. COFFEE QUOTATIONS. NEW YORK, August 11 (#).— Coffee—Rio, No. 7. 20%; Santos, No. 4. 231, Futures barely steady—Sep- tember, 18.55; D&ember. 16.60. Price of Lead Goes Up. NEW YORK. August 11 (#).—The American Smelting and Refining Co. today advanced the price of lead trom $.90 to 9 cents a pound. TREASURY CEBTIFICATES (Quotations furnished by Redmond & Co.) ~——Noon 99 31- 100 11-32 100 18- 100 §-18" 100 11-1 095 09-13.1 00 100% 014 o1 1014 x E1(3) . Std G&E! pf (4). Stand M1l (5) . StOll Calif (2).. B4k StOINTI(1)... 40% StOilNJ pf (7). 117% Std Plate Glass.. T4 Sterling Prod(4) 71 Stew-Warner(5) 67% 47 84 3% 8 16% 20% 11 47% 110% 124 xw. 55% 5414 72 58% 54ly 72 544 404 17% % 71 Submarine Boat. Superior Ofl. Sweets (uew) . Symington. Symington A(2). Tenn Copper (1). Texas Co (3).... Tex Gulf S (715) Tex & Pac C& O. Tex & Pacific. ... Tide Water Ofl. . Timken R B (14) Tobac Prod (8).. Tob Prod A (7). Transcont Oil. Transue & W(2). Underwood (3).. Un Bag & Paper. Union O11 (1.30). Un Pacific (10).. Utd Alloy Steel. . Utd Clgar (13%) United Drug (7). U S Distributing J S Hoft (2).... S Ird Alcohol. Realty (8) U U u U U s s s X U S Smelting(3) . U S Steel (17)... U S Steelpf (7). Universal Pipe Univer P pf (7). Utilities P&Lt A Vanadium (2)... Va-Caro Chem. Va Caro Chem B. 82% 75 34 29 2% 1% 24 ‘Va-CarCh pf ofs. Vivaudou . Wabash. .. ‘Wabash pt Wabash pt B.... Ward Baking B. Weber (4)... West Maryland. West Md 2d pf.. Westn Pac (5a). ‘Wesn Pac pf(6a) West Pen pf (7). ‘West Union (7). West Alr Br (8). ‘Westinghs (4) Weston Elec. Weston A (2). Wheel & L Er' Wheel & L Epf. White Eagle (2). White Mot (4) .. White Rock (12) Wickwire ctfs. .. ‘Wilson & Co. ... Willys-Overld. Willys-Od pf(7 Woolworth (3) Worthn Pump. Wright Aero(1). Yale & Towne. .. Yellow C (2.52). Youngstown (4): *0dd lot. . {Partly extra. 1Pt lbll in AEEry, 14% 37% 1% 65 1% 58 164 22% 224 T4% 9845 131 119% T68% 17% 26% 20% 434 28% 91 47 44 5% 35% 70 85 69 58 14% 22 22 78% 98% 130% 113 T4% 17 25 19% 42 25% 88% 45% 4 5% 18% 104 1844 394 27 66 41 3% .-num 69% 58 14% 22% 122% 8% 98 181 119% k53 17% 25 19% 48% 26 89% 45% 4 5% 19 104 164% 39% 27 66 41 3% 5% 18% 19 J104 104 . 166% 166% 39% 394 2% 27% 66 66 41 41 74 T4% D"M THE EVENING STAR, WASHINGTON, D. €, TUESDAY, AUGUST 11, 1925. I ON NEW YORK BONDS STOCK EXCHANGE ' Recelved by Private Wire Direct to The Star Office. UNITED STATES. (Bales are in $1,000.) Sales. High. Low 100 24 100 21 101 25 101 21 100 26 100 21 101 14 101 10 101 30 101 26 10222 102 19 Lib3%s... 77 Lib 1st4%s 14 Lib2d 4%s. 82 Lib3d 4%s. 117 Lib 4th 4143 116 US4s1944. b4 US4ys'sz 181 062 106 FOREIGN. Sales. High. Low. Close. Argentine 6s°59. .. Argentine 6s A. Argentine 6sB..... Argentine 7s. Aus govt 55 'G5 Austria 7. Bank of J. Belgium 6s 3 Belgium 6%s wi. Belgium 7s w1 Belglum T4s. Belgium 8s. Bollvia 8s.. ... Bordeaux 6s. Brazil 7s Brazil 8s. Canada 55 1931. Canada 55 1952 Canada 635 1929 Chile 78 1943. Chile 85 1926 Chile 85 1946. .. . Con Pow Japan 7s. Copenhagen 53 8. Cuba5%s Czecho 8s 1951. Czecho 88 1952 ct Danish Munic8s A. Denmark 6s Denmark 8s. DET5%s Nov'53. Dutch East I 6s'47. Dutch East I 6s°62. El Salvador 85 '48. . Finlands 7s. .. Framerican 7%s. .. French 7s.. French Tis French 8s. .. Ger E! 6% German s Ger Gen EI Greek 7s Halti 6s. : Holland Amer 6s. Hungary 6%s Japanese 4s. Japanese 6% s Jergens U M 6: Lyons 6; Marseille Mexico 45 '10 asntd Mexico §s assented Montevideo 7s Netherlands 6s Netherlands 6 Nord 6%4s. . Norway 5% s wi Norway 6s 1943 Norway 6s 1944 Norway 6s 1952 Norway 8s. Orient Dev deb 3. Pari; -Med 65. Paris-] Ly 's-Med 7s. Peru 8s. . Poland 65 '40. Poland 8s '50 Prague Tis. . Queensland 7s. Rio de Jan 85 1948. Rio de Jan 8s 1947, Sao Paulo State 8s. Stof S Paulo rets. . Seine Dept cf 7s Serbs Crot Slo 8s. Sweden s ct. . Sweden 6s. .. Swiss 5% 1946 Swiss Confed 8s. Toklo §s. ... v Ud Kingm 51 "29 Ud Kingm 514837 Ud Steam Copen 6 Uruguay 8s..... Zurich 8s. ... vl BB 153 8 104 29 7 98 4 a7 28 - 98 1043 102% 116 874 117% 105 94% 109 108% 26 95% 96% 95% 1024 994 99 9814 85% 91% 96% 1684 107 95% 844 82 97 101% 101% 102% 101 103 109% 9044 97% 100% 99% 994 111 1026 110% 100% 102% 102% 106% 93ts 90% 997 103% 87 9645 934 8644 9644 89 92 R3% 924 103% MISCELLANEOUS. Ajax Rubber 8s Am Agr Chem 7158 Am Chain sf 65 '33. Am Smlt & R 1st b5 AmT& Tcltr AmT & Tl tr 5 AmT&Tsf5s... AmT & T deb 5%s. Am Writ Paper 6s. Anaconda 1st 8s. Anaconda cv db 7 Andes Cop 7srets. Armour & Co 434 Armour Del 5%s. . Assoclated Oil 6s Barnesdail s f 8 Bell Tel Pa 68 Beth Steel pm 5s. .. Beth Steel rf 5s... Beth Steel 5145 '53 Beth Steel s f 6s. Brier H St 18t 538 Ekiyn Ed gen 5s. Calif Pete 63%s. . 1 100 18 1034 5 3 17 5 .63 20 10 36 36 10 Cen Leth 6545 cfs 2 Chlle Copper 6s.... Col Gas & El 5s. Commonwth P 6s Con Coal Md 1st 6s. Con G NY 5%s wi, Consumers Pow 6s. Cuba Canecvd 8s.. Cuban Am Sug 8s.. Denver Gas 5s. Dodge wi 6: Donner Steel 7s... . Du Pontde N 734s. DuqL &P 5%s'49. Est Cuba Sug 7%s. Emplre G & F 73 Fisk Rubber 85. Goodrich 6%s Goodyear 85 1931 Goodyear 85 1341 Hershey 5%8 wi. Hershey 65 1942 Hoe & Co 6% s Humble O & R5%s Illinols Bell 1st 58. Int Mer Marine 6. . Int Paper 5s'47 Inter Paper 6s KCP&Lt5s A Kan G & E1 65 '52 Lackawa S 55 '50. Lacl G ref 5534 Laclede G 5365 '52. Liggett & Myers 5s Liggett & Myrs 7s. Loufsv G & E 5552 Manatl Sug sf 7%s. MId-Con 63%s40... Midvale Steel b5 Montana Pow 68 Mor's & Co 15t 4348 New Eng Tel 5s.... N Y Ed 5544 wi. N Y Eden 1st 6% NYGELH&P NYGE L H&P bs. NY Teld}s N X Tel 6: N Y Tel65'49. ... North Am Ed 65 North Am Ed 6345, Nor States Pow 6 Otis Steel T%s Pacific Gas & El 6s. PacT & T bs '52 Pan-Amer Pete Peoples Gas 5 Phila Co5% Phila Coref 63 A. Phila& RAC& 168 Plerce-Arrow 8s.. Public Service b3 Public Service 6 Pub Serv Elec PServ Gas 5% '64. Punta Alegre 7s... Remingtn Arms Rep Ir & Steel & Saks & Co st 7 Sinclair O1l 68 Sinolair Ofl §%s. Sinclair Of1 7 SInCOPL6s'28. Sin Pipe Line 68 Skelly Oll 6%s So Por Rico Sug 7s. Southwest Bell 5s... Sug Est Orient 7, Tenn Elec Pow Tide Wat Oll 6%4s. . Toledo Bdn 18t 7s. . United Drug 6 U S Rub 1st rf 58 U S Rubber 7%s U S Steels £ 6s Utah Pow & Lt bs.. Va-Car Chem 7 Va-Car Ch T¥%s w ‘Warner Sug 7841, seamckalaonSonaie B suanSoan 8 4 e Plsi ooy - e - oo @ S B 4 SO S CT I D W B e 0001 005 O “om r =2 G o6 2 1 46 6 122 4 84 244 834% 2 93% 100 1034 9514 974% 9674 101% Close. 100 21 101 23 100 25 101 14 101 29 102 19 106 95% 967 96 102% 99% 99 984 854 91% 96% 108% 107 957 84% 8214 97 102 101% 102% 101 103 109% 90% 97% 100% 100 9% 111 102% 110% 100% 102% 1024 106% 93% 9814 908 997 1037 87 964 934 R6lg 964 89 924 83% 92% 103% 84% Bih 20% 324 a7 1034 108% 824% 94 100% 100 101% 1104 85% 7% 85 100% 674 87 93 95 Sales. High. Low. Cloze. West Elec Fs. . Westinghouse 7 Westn Union 6 Wilson & Co 18t 6. Wilson & Go cv 6s. . Youngstn S & T 6s. 21 RAILROAD. Atchison gen 4s 1 88% AtlanCL 4%s'64.. 4 92 AtlanticCL 7s.... 2 106% 87% .22 92% 904 100% 103 101% 854 964 90% 86 102% .. 29 100 18 106 B&O Sw Div 53 cfs. 47 Bklyn Manhat 6s.. 42 Buft R & Pitt 4143 Canada South 5. Canad North 7s Canad Pac deb 4s Car Clinch & O Central Pacific 4s. . Ches&Ocv4k%s Ches & O gn 438 Ches & Ocv bs. . Chi & Alton 33 Chi& 11 gn 5 Chi Great West 4s CM & Puget Sd 4s. & StP4s’25 StP v 4% & &S & & St P M&O cn 85 N W gen d4s . Chi& N W ref 58 Chi& N W 6s Chi& N W 7s. Chi Rys bs. ChiRT&Pgn 4s ChiRI1&Prf4s. CHiTH&SES Chi & W Ind cn C&WI5%s 62 CCC & St L 5s CCC&StLrf6sA. Clev Term 68 ; Cleve Term 5%s. .. C&S1st4s'29. Colo & Sou 4148 Cuba R R 58. Cuba RR 7348, Del & Hd 1st rf 4 Del Hud cv §s '35 Den & Rio G cn 4 D & Rio G Wat Erie 15t cons 45 Erie gen 4s. Erie conv 48 D, Erfe & Jersey 6 FlaEC 58’74 Fla W & N 7s 4 Grand Trunk 7s. Great North 5% 8 Gr North gen 7 G Mob&N 5%sB ‘50 Havana ERL&P '50 Hud & Man ref 58.. Hud & Manaj 5 111 Central ref 4. 111 Cent ref 5555 11l C-C St L&NO 55 Int Rap Tran 68 Int Rap Tr 65 stpd. Int Rap Tran Ts. Int & G Nor 1st 6s. Int & G Nor aj 6s. . Iowa Cent rf 4s.. Iowa Cent 1st 5s. .. an City Ft S 4s. ansas City S 38 KansasCity S 5 Kan City Term 4s. . Lake Shore 45 '28. . Lake Shore 4s'31. . Lehigh Valecn 4s. . Louls & N uni 4s... Louis & Nash 5%s. Manhat Ry cn 4s Market St Ry 7s.. Mil El Ry & L 58 M&StLrfex5s.. MStP&SSM5is. MK&T Ist4s. MK & T adj 53 MK&TprinisA. MK&T6sC. : Mo Pacific gen 4s. . Mo Pac 55 1965 Mo Pacific 6: Mo Pacific 6s cfs. OTex & M5s B.. OT&M5s. . OT&M5%sn.. Y Cent 4s°98.... Y Centribs.. Y Cent deb 6s. YCent LScl3% Y C&StLdb4s. Y Chi & StL5%s ew Havencd 6s.. Y Ont W ist ds.. Y Rys 68°65. Y State Ry 4% 3 orfolk & W cv 6s. orthern Pac 3s. .. orthern Pac 4: Northern Pac r 1 65 Ore & Calif 1st Gs. . Ore Sht L cn 55 '46. Ore-Wash 1St If 48, Pennsyl con 4%s. . Pennsyl gen 43s. . Pennsy! gen 58 Pennsyl 55 °64. Pennsyl 63%s. Pennsyl gold 7s. Pere Marq 1st 5s... Reading gen 4%s.. RIArk &L 4ls St L IM&S 4s°29... St L IM&S R&G 4s StL&SFpldsA.. 88% 83% 82% 7% 81% 9% 97 844 8B4 78 102 106% 108% 40 91% 844 98 9674 65% 93% 83% 77 61% 8% StL S W con 4s'32. 21 St P & KCShL u,ss 11 San A & Arn P 4s Seabd A L 4s sta Seabd A L adj 58 Seabd A L con 6s Sou Pacific 4s '29.. Sou Pacific clt 4s.. Sou Pacific ref 4s. . Southern Ry gen 4s Southern Ry 1st 5s Southern Ry 6s ct. Southern Ry 61s. . Third Ave adj 5s. .. Union Pac 1st 4s. .. 2 Union Pac 1st rf 4s. Virginia Ry 1st 53. ‘Wabash 5375 Western Md 4s Western Pacific 5. Vest Shore 1st 4s. Whel & L E rf 435, Wilkes-B&E 1st 5s. Wisconsin Cent 4s. 987 103% 111 98% 0% 99% 884% 92 106% 87 91% 89% 100% 102% 101% 86 95% 90 86 102% 114% 9% 107% 87% 97% 9l 12z 102 105% 108% 394 SIK 84 97% 95 65% 93% 83% 7 61% 8% STOCKS EX-DIVIDEND. Corporation. Per . 11—American Coal Co. of Al- 11_degany Co . 11—Col Fuel ron 11—Cons Gas Co of New + 14—Associated Dry Goods . 14—Fairbanks, Morse & C: 14—Fed L & Trac Co pt tmpy 14—Gen Asphalt C pf . 14—Household Prod Inc. . 14—Inland Steel Co . 14—Int Shoe . 14—Lima Inéve oo . 14—Danaii S . 14—Martin-P: Corp : "—u'rf Dept. Stores Co. - 14—Mid-Cont Pet Corp ol 14— O ;4 2 14—5'1 Chi u o ctfs of dep. v mn% Ay =iy 14 Corp o b b o 10m b b e e o 100 106% 11t 99 T0% 9% 88% 92 106% 87% 91% 90 100% 103 101% 85 95% 90 86 102% 114% 80 107% 87% 97% 981 113 51 74% 3% 46% 47% 832 I8N 83 & 55 e aabboh Sieeis b EERPEE e FINANCIAL. CRUDE OIL PRICE CUT. Reduction of 25 Cents a Barrel on Seven Grades. PITTSBURGH, Pa., August 11 (@) —A reduction of 25 cents a barrel in the price of seven grades of Pennsyl- vania crude ofl was posted by the principal purchasing agencies at the opening of the market today. The new prices are: Pennsylvania grade in New York transit lines and Bradford district grade in national transit lines, $3.65; Pennsylvania in natlonal transit and 'southwest Pennsylvania lines, $3.55; Pennsylvania grade in Eureka and Buckeye lines, $3.50, and Gaines | grade in national transit lines, $3. Other grades were unchanged. FLAX AREA REDUCED. Estimates Revised, Fixing Total at 3,093,000 Acres. Estimated areas of flax have been reduced from 3,466,000 acres to 3,093, 000 acres on the basis of resurvey of acreage found necessary owing to the conflicting nature of the evidence for North Dakota' and Montana avail- able when the July estimate was pre- pared, the Department of Agriculture announced. The revised acreage is about 6 per cent less than the acreage harvested last year. New figures for North Dakota are 1,386,000 acres and for Montana, 297,000, YOUNG DENIES RUMOR. Head of General Electric Not Con- | sidering New Connection. NEW YORK, August 11 (). —Owen D. Young, chairman of the General Electric Company, today denied re- ports that he would become head of a. new airway conipany. Having spent the greater part of last vear abroad on the reparations program, he in- tended now, he said, to devote him- selt exclusively to the business of the General Electric Company and the Radlo Corporation of America. “I do not intend to accept any position which will interfere with those activi- ties,” he asserted. TRADE BODY PLANS PAPER TULSA, Okla., August 11 (P)—A Natlonal 'Junifor Chamber of Com- merce publication will be launched by that organization in September, E. Fred Johnson, national president, has announced. Johnson's plans have been approved by the board of directors of the national chamber and he has gene to Chicago for a conference with other national officials. A name for the publication will probably be decided upon during the conference. It will be published in St. Louis, with G. Edwin Popkess of East St. Louls as business manager. John- son sald that the junior chamber hoped to publish the first number about the 1st of September. A total of 2,900 subscriptions have already been pledged. GRAIN AND PROVISIONS. BALTIMORE, Md., August 11 (Spe- cla)—New potatoes, barrel, 2.25 6.50; culls, 1.50a2.00; bushel, 75a2.10. Beans, bushel, 40a75. Beets, 100, 1.00 a3.00. Sweet potatoes, barrel, a 7.50. Yams, 5.50a6.50. Carrots, 100, 2.00a4.00. Cabbage, 100, 3.00a6.0C. Celery, crate, 2.25a3.00. Corn, dozen, 10a20. ' Cucumbers, basket, 15a25. Egg- plants, basket, ~75al.00. Onions, bushel, 2.00a2.50. Lettuce, crate, 1.25 al.75. Lima beans, bushel, 2.00a2.50. Squash, basket, 15a25. Tomatoes, hamper, 25a50. Apples—RBarrel, 1.00a3.50; bushel, 50a1.50. Huckleberries, quart, 18a20. Peaches, bushel, 1.00a2.50. Black- berries, quart, 12al6. Cantaloupes, basket, 35a60. Watermelons, each, 12a55. Cantaloupes, crate, 50a1.00. Selling Prices at Noon. Wheat—No. 2 red Winter, spot, do- mestic, 1.62%; No. 2 red Winter, gar licky, 1.58%. Sales—Bag lots of new at wharf so0ld at range of 1.40 to 1.56 per bush- el. No cargoes on grade. Corn—Cob, new, yellow, and 6.50, nominal, yellow, No. 2, 1.26. Sales—None. Oats—No. 2 old, 53%; No. 2, new, 51; No. 38, old, 52; No. 3, new, 50. Rye—Nearby, new, 1.10 and 1.20; No. 2 ryg, spot, no quotations. Hay—Receipts, 78 tons. Fair re- ceipts of new hay have been noted on this market, but practically all of the product has been in a heated and oth- erwise “off” condition, and on this class of hay prices are very irregular and uncertain. In fact, each car, aft- er having been handled to improve its condition has to be sold on its indi- vidual merits. Prices on old hay are fairly well maintained with stocks be- ing raplidly cleaned up. Quotations today—No. 2 timothy, 18.50219.00; No. 3 timothy, 16.00a17.50 No. 1 light clover mixed, 17.50a18.00; spot, 6.25 per barrel; track No. 1 clover mixed, 17.00a17.50; No. 2 clover mixed, 14.00a15.00. Straw—No. 1 wheat, 11.00a12.00; No. 1 oat, 12.00a13.00. e CHICAGO GRAIN PRICES. b g oo aoms 2233 i in oy 3838 323 § s DEo =32 Lkt 232 3% # SRR PR i s D20 @zl zos Sek 833 EFT P September December May . PR FER IR o2 Frr GERMAN BONDS AND STOCKS. (Quoted In dollars ver million marks.) Sor St (mln) Ge 101418 Hamburg 43s 10 G e ol v Gen » :r Gen Eles 4138 flfl’s' Berlin_4s pre-war. Ham 35 Hambu rih fi?;::.., Con: ‘onso Be 1031 .. ort 48 rankiors a3 %% Drevwar B 2 pre.whr HERREERIS w0 ommo AN, ot 50024200000" S5 20200 23383338383323338333 B RROODDDDD0DNDDDPNDDD! 23333383333232333228, 191509 b FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) ndon. pound. (ontreal.” donar S lfl o By the Associated Press. NEW YORK, August 11.—Foreign exchanges irregular. Quotations, in cents: Great Britain, demand, 485%; cables, 485%: 60-day bills_on banks, 482. France, demand, 4.673%; cables, 4.68. Ttaly, : 3631, Demand: Belglum, 4.51; Ger: .80; Holland, 40.18; Norway, i8.54; Sweden, 26.85; Denmark, 22.95 Switzerland, 19.41%: Spain, 14.423% Greece, 1.86%: Poland, 18; Czecho: slovakia, 2.96; Jugoslavia, 1.79%; Austria, 14%:; Rumania, 52%; Ar- gentina, 40.37; Brazil, 12.00; Tokie, 413-18; Shanghal, 78%; Montreal, PEPCOIS PLANNING CAPITAL INGREASE Meeting of Stockholders Call- ed to Take Action—Notes of Local Exchange. BY CHAS. P. Stockholders of the Potomac Elec tric Power Co. (meaning directors o the Washington Railway u Co., which owns t be calle SHAEFFER a.m. on se of consider} and taking act eading 10_a crease of its capital stock to $30 000, authorized recently by the Pt Utilities Commission. The present stock capitalization of the company is $6,000,000, of whic $5.750,000 i3 com with the mainder preferred. e recent auth zation by the Public Utilities Comm sion allows for a stock capital of $2 000,000, to consist of 200,000 shares preferred stock of the par value $100 each and 100,000 shares of mon stock of the par value cach. Thus it is se pany now lacks 197 ferred and 42,500 sh: complete its authorized capita Preferred Stock in Series. Whatever preferred stock w added wiil be fssued in series such dividend rates and red; prices, rights, privileges, prefe or limitations, restriction cations as may be fixed b of directors of the comparn except in the eve t in the tain_dividends. Little can be learned regarding the matter. Direc officials of the company de subject has never been dis: detail at any of their mee until this is done it will be to learn what rate the pref bear, what will be the stat common, and the probable fi of each. It seems, however, consensus that only relatively blocks of stocks will be is time to time, and that m years will ensue before authorization will-be placed The Potomac Electric Power Co., the present time, is said to be s topheavy with bond issues now total $13,200,200, or more than twice the amount of stock indebted ness. An increase of undoubtedly give the tribution, and would at the same time enable the company to care for the rapidly increasing needs for elect current. Electricity has almo: tirely replaced gas as an in Washington, this being an increase of from 3.0 users in the last decade. Stock Exchange Quotatio Washington Raflway and common stock was quiet on the Wa ington Stock Exchange this morn for the first time in 10 days 220 shares of the issue cha Opening at 149%, the stock e: fractionally on the next shares, but firmed up to 149% the rest of the seiling. The p likewise was quiet, 60 shares selling at 85. Riges National Bank was the cen of a slight foray which resulted turnover of 30 shares at a net gain of more than two points to 360. A ican Security and Trust Compa kept pace, advancing to 350 on sales of 10 shares. Capital Traction was quiet at par and a half, as was at 62%. Thirty shares of Real Estate Title Insurance brought 1543; upward to 155 Bonds were firm but quiet. Personal Mention. Eugene E. Thompson of Crane, Par. ris & Co., is in Gloucester, Mass., to day, addressing a meeting of the In vestment Bankers' Association of America. From there he will take a week with his family in New Hamp- shire. Howard Moran, vice president of t American Security and Trust Co) pany, has returned from an extens: motor tour through New Jerse: Pennsylvania and New York. th hundred dur SUGAR MARKET EASY. NEW YORK, August 11 (#).—The raw sugar market was easy tod Cuban declined 1-32 to the basis of 437 duty pald. Sales of about 50,000 bags for prompt shipment were re ported. Raw sugar futures were easier un der increased offerings from trade in terests and houses with Eurcpean cor nections. Selling was inspired by the easier tone in the spot market and a increase in the estimate for the . crop to 2,204,000 tons, against earlier expectations of 2,011,624 tons. Prices at midday were 3 to 4 points net lower No changes occurred in refined sugar prices, which continued from 5.35 to 5.50 for fine granulated. De- mand was less active. —_— BUSINESS BRIEFS. FORT WORTH, August 11 (Spe clal)—A surplus of labor prevails throughout Texas, due to excessive drought in central and south sections Farm labor is least emploved. Some idleness is evident in the building trades and some in the textile indus try. MOBILE, August 11 (Special). Projects now under contract and plans for which have been completed in 1 vicinity call for expenditure of $i0. 064,340 in improvements, including $10,000,000 for the Ptate docks and $5,000,000 on lines and plants by the Alabama Power Co. BALTIMORE DAIRY PRICES BALTIMORE, August 11 (Special). —S8pring chlcken!. pound, 24a8 horns, 20a27; old hens, Leg horns, 20a22; roosters, 15al6; ducks, 20a25; old ducks, 15a20; pigeons, pair, 25a80. Eggs—Receipts, 1,060 cases; natives and nearby firsts, dozen, offered at 32a33. Butter—Good to fancy creamery. pound, 40a46; prints, 46ads; 34a35; store packed, prints, 32a34; rolls, butter, 36%4a37%. SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) [T Sfer. 32a34; process Adirond. P. & L. C. 6 1020 101 Alum. Co. of Amer. Ts 1933. 108 Amer, 1938 > 3 FERR SRERRRSE f-‘M A B of’ % Tods B itimore & O!;ng 19 1:\"0 . S0550:0! i s 23550055 2252333323222228 hi: gt Columb, Léon. “; 15 2, Continentai Put 7 35552500m5: B I BBOEE 03 DO0 SBDDBOB BB, PR 3 23555550555 ps 235555 So% =23 oo SoE3. oo Wostern Union Westinghouse E. Nearty sl dandies of Salvador wear collars, cufts and sbirts from Amegica,