Evening Star Newspaper, August 15, 1925, Page 20

FINANCIAL, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office FIRM UNDERTONE IN'STOCK MARKET Business Quiet Today Due to Absence of Traders for Week End. By the Ascociated Press NEW YORK. August 15.—Except for & break of 5 points in Americun Can and sharp advances in ome of the other high-priced industrials, the main body of stocks in today's stock litle change, al- distinetly < was run up over 7 top fust below 217 Airbrake jumped 6 1 Electric 53s ¢ record high prices. 7 points and Ha- the general list, 21 and motor eues give the best demonstration of and there was a no- selling pressure s. The closinz was firm. Total ated 500,000 shares. a4 new Strong at Opening. Vestinghouse Alr up"“d higher and initial gains yr more were recorded by ‘ational Dairy Prod. the last named There was res, de- 1925 high 1and for the of rasoline price cu! absence of many trad- week end. trading was but the strong under- itained. United States Pipe jumped 5 points on a and International Telephone more than 3 on the an- that the company had re the International Iro Other Gains Noted. ash preferred B also moved up to a new top. and Mack rded an early gain of 3% e the weekly mercantile not disclose any masket in busineas during the 1s gains were generally | ined and a cheerful sentiment d to prevail in most lines of Foreign exchanges displayed one with demand sterling | around $4.85% and French s at 4.67 cents, # Associated Press i W YORK—Stocks higher; Gen-| ectric and Mack Trucks at new | records. Bonds steady; oil lliens better tone. Foreign exchanges lar; allied rates show little ange. Cotton easy: rain central Texns. Sugar and coffee haliday. T eral E high show ! “Corn steady; tight cash situa- attle steady. HOgS easy; slack demand WALL STREET BRIEFS. By the Associated Press. | The preliminary statement of the| llys-Overland Co. for the first half shows approximate net profit 500,000 after ordinary taxes, in- terest and expenses of new models, but before Federal taxes, in compari- son with $2,781,692 in the correspond« ing period last vear. Many lines of business promise to | be distinctly better in the second half of 1925 than in the first half, in the opinion of Leonard P. Ayres, Cleve- land banker, who sees contintance of this improved condition extending into 1926. The exceptional activity of the construction industry in recent years has been a most important, if not a dominant factor, he asserted, in shaping the course of general busin The banker algo foresees a considerable decline from recent extremely high prices of rubber fol- Towed by a world shortage and a re- turn to very high prices within the mext few years. Motor Wheel Corporation plans to purchase about one-fifth of its 8 per cent first preferred stock at the calla- | ble price of 115 flat in the 10 days| ending_August 25. The Capital Na- tional Bank and American State Sav- ings of Lansing, Mich., have been a zed to pay for the stock. The outstanding stock of this issue will be reduced to 12,500 shares. of which about 16,150 shares were outstanding June 30. If sufficient stock is not offered within the next 10 diys to make the raduction. the necessary will be called October 1. 0! Large quantities of structural and other forms of steel were bought by the railroads in the last week. The Great Northern ordered 4,020 tons of structural steel from the American Bridge Co. and the Louisville and Nashville, 1.250 tons from the Mc- Clintic Ma 1 Co. Bethlehem Steel booked 4,600 tons of steel for the Central Railroad of New Jersey and ois Steel Co. got an order for E f rails from the Louis- ville, Henderson and St. Louis Rail- way CANADA WHEAT EXPORTS. st 15 (P).—Exports dian wheat for the 12 months uly 31, last. amounted to 158 bushels, valued at $226,. For same perfod end- total exports were Is, with a valuation the 1924 exports to the United biggest wheat month period, went through the 40,978,885 bushels n seaports issued by the Do- tistics shows to- to the United States dur- 2 months ended July 31 last 6 bushels, valued at $4,614,- compared with 22,040,584 valued month tatement au of pertod COFFEE FUTURES DECLINE. NEW YORK P).—Holi- decline of 5 to 23 futures vesterday ral- for Dece ths selling 10 to on covering. The advance eased offerings. however, ac-! rs that the daily Santos would be offee 20 poin it on receipts sed temporarily from 30.000 to 3 beginning next Tuesday. De. 0 16.80 in late trading, s The general net declines of 10 to were estimated at quotations: Septem- 18.00 nevember, 15.70; et close: points. 000 at Sales Closir iz'm 78, 20%; San- fFers inc t 21.75 to ded part bourbon 3s and 68 CALLS PREFERRED STOCK. NEW YORK, August 15 (#).—The Western Electric Co. has called for redemption on September 15 at $110 GO—Wheat lower: larger re-| ¢ LA Cost and tm.m‘ om Hizh. Low. Cl Adv Rumley. 14% Ad Rumley pf") BBW Ahumada (t1).. 10% Alr Redue (4)... 108 Ajax Rubber. . Alaska Juneau Allled Chem (4). Aliis Chalm (8). Am Can (#1).... 2 Am Car&Fdy (8) Am Chain A (2). Am Drug (60c).. Am Express (6). Am & For Pow.. Am Hide & Lea Am Hide & L pf. AmIce (T)... Am Internatl. .. Am La Fran (1), Am Linseed. .. Am Linsd pf 335 Am Loco (118) .. Ani Radiator (4) Am Safety R (3) An 8 & Ref (6). Am St Fdys (3). Am Sugar. .. Am Sumatra. Am Te'&Tel (9). Am Toba B () Am Woolen. Am Wool pt Am Zine pt. . Anaconda (3) Ann Arbor. Archer-Daniels. Armour Del (T). Armour 11) A(3). Asso Dry G(2Y%) Ass0 O11(2). ... Atehison (7). Atchisen pf (5). Atiantie © L(18) AtiGuifaWI.. Atlantle Refing Austin-Niehols. . Austin Nie pt(7) Baldwin L (1).. Balto & Ohto(8). Bal & Oh pf (4). Bang & Ar (3). Barnedall A Karnsdall B Bayuk Cigar. Besch Nut(2.40). Belding Bros. ... Bethiehem Sti. . Briggs MIg(3%) Bkl Edison (8 Bkl-Man Tran.. Bki Union G(4). Brown Shoe (4). Burns Bro (10).. Bur Add Ma (3). Bush Ter de (7). Ca) Packing (). Cal Pete (2) Caliahan €inc Calu & Hec (30¢) Case Threshing. Cent Leather. Cent Lieather Cen RROINJ 112. Cerro d Pasco(4) Certain-Teed (4) Chandler (3).... Chees&0hio (4). Chi & Alton pf.. | Chi & East 111 pt ChiGreat West. ChiGr West pt. Chrysler Corpn.. Coca-Cola () Col Fuel & Iron. ColG&E (2.00). ColG&EDP (T). Col Carbon (4).. Congeleum (2).. Consal Cigar. Con Cig pf (183 Consol Distribut Consol Gas (5). | Cont Can (4). Cont Insur (6).. Magma C (76e).. Man Bmd g (5). Man Shirt (1%). Maracatbe O1l. Market 8t prior. Marland O (160) Malin Rock (1).. Martin-Parry(2) 21 May Dapt 81 (s). lu 1 Mexican Seabd.. 13% Miami Cop (1) Mid-Continent Middle State: Min St P & S Mis Kan & Tex MR&Tpf(5).. Missour{ Pacifie. Missouri Pae pf. Mont Power (4) Mont Pow pf (1) Montgom Ward. Moon Mot (3)..", Mother Lode 760 MotorWha(1.60) Nat Acme (sta). Nat Biscuit (3). Nat Dairy (3). Nat Distillers pf Nat Enamel & S. Nat Lead (8) Nat Supply (3).. Nevada Copper. . NYAtrBr(4).. N'Y Cunners (2) N ¥ Centra! (T). VY(‘&!!LI\NH Dock NY NH & Hart. N Y On&wn (1). N Y Shipbld (2). Norf & West (7) North Am (3.40) North Am pt (3) North Pac (5)... Ontario Mining. Onyx Hostery . Orpheum (1. 80) Otis 8t - Otis Steel pr. Owens Bot (3 Pacific O11 (3)... Packard (11.70). Paige Mot(1.20). Pan-Amer B (6) Pan-Amer rts. .. Penick & Ford.. Pennsy RR (3). Penn Seab Steel Pere Marq (4).. Phillip Morris_ .. Phla Co (4).. Phil-Jons pf (7). Phillips Pet (2). Phoenix Hoslery Pierce-Arrow. Plerce-Arrow pf. Plerce O11. . Plerce Petro! Pitts Term Coa Postum Cer (4). Press Steel Car.. Prod & Refiners. Pub Ser N.J.(5). Pub 8 NJ pf (7). Pullman Co (3). Punta Aleg Sug. Pure Oil (1%).. Radio Corpof A. Ray Cons Cop. Reading (4) Reid Ice Crea Remington T; Replogle St. Rep Ir & Steel. .. Repl1&Spf (1). Reynolds Sprngs Rey Tob B (3). . Royal Dch 1.73% Rutland pf St Joseph Ld (2) StL&San F (5) Savage Arms Seabd Air L pf. Seagrave (1.20). Sears-Rebk (6) . Shattuck F G(2) Shell Trans Shell Un (1.40) Simmons Co (2). Simms Pet (1) Sinclair Of1 o5 | Skelly O11 Cushman's (3).. Daniel Boone. . Davtson Chem. . Del & Hud (9).. Del L & Wn (17) G Watpt. .. ge Bros Cl A Dodge pf (7). Pecun (IL upont (10).... 3 Eaton Axle (2). Elec Powr & Lt. 34% EY&L pf 40% pd IOQ" Elec Str Bat (4). Emmerson Brat. Emmerson B pf. End John (5)... Erfe RR . . Brie2d pf. . Exchange (1%). Falrbks (2.60).. Famous Pl (8).. Feder Lt (11.40) Federal Mines. .. Fed Min pf (1) Tisher Body (3). ¥isk Rubber. Fletsehmann (4) Foundation (8). Freeport-Taxas, Gabriél Snubber. Gardner Motor. . Gen Asphalt. . Gen Asph pt (5). Gen Baking (8). Sen Cigar (3) Gen Electric (8). Gen Motors (6). Gen Mot pf (7).. Gen Outdr Adv. . Gen Outdr Ad A. Gen Petrm (2).. Ginter (1%) Glidden Co. Glidden rig) Goodrich Ru (4). Goodyear pf (7). Goodyr pr pf (8). Granby Consol. . Grt North pt (5) Gt Nor Ore (1) Grt Wstn Su ( Gulf Mo & Nor. . Guf States 8 (3) Hartman (2%).. Havana Eleo (6) Hoe & Co A (4).. Household P (3) Houston Ofl. ... Hudson Mn (283) Hudson Mot (3). Hupp Mot (1)... 1Minots Cen (1).. 1 Cent pf (8)... 1 Indep Ofl (1). Tndfan Refining. Inspir Cop (50c) Interub Rap Tr.. Internat Agri... Int Bus Mac (3). int Cement (4).. Int Com Eng (2) Internat Har (5) Int Mer Marine. . Int Mer Mar pt.. Int Nicksl, . Int Tel & Tei (8) Jewe! Tea.. Jones Bros Tu Jordan Mot (3). Kan City South. Kelly-Rpring. . Kelly-Spring 15t Kelly-Spring pf. Kennecott (3), .. Keystone T & R. & Lima Loes (4).. Loews Ine () Louislana Ofl. 14 Louls & Nsh ®. 117 a share all of its preferred stock out- standing, amounting to $24,679,600 ot an authorized $60,000,000 issue. McCro B (1.60).. 93% Mack Trucks (§) 213 Mack Tris 18t 98 212 Sloss-Sheft South Pae (6) . Southern Ry(6). Spicer Mfg..... Std Gas & E1(3). St Gas& Erts.. St Ofl Calif (2) StOIINJI(1)... Std Plate Glass. Stew-Warner(5) Stromberg (6). . Studebaker (4) Submarine Boat. Superior Of1. Symington. . Symington A(2). Tenn Copper (1) Texas Co (3). Tex Gulf S (1% Tex& PacC&O. & Pacific Tex Land Tr (8). Timken R B (14) Tobac Prod (§). Tob Prod A (7) Transcont Ofl. .. Underwood (3).. nfon Oil (1.30). TacMic (10).. Un Tank Car(5) Utd Alloy Steel. Utd Clgar (+3%) United Drug (7) UtdDrug 1st 3% Utd Ry Invest. 8 Cast Iron P. SCIPpt (1) ! 55 Distributing USHoft (2).... U S Ind Alcohol. U S Rubber US Rub 1st (8) U S Steel (7). U S Steelpt (1) Universal Pipe Univer P pf (7). Util P&L A (2) Va-Caro Chem. . Va Caro Chem B. Va-Caro Ch pt.. Vivaudou..... Wabash. Wabash pf A (5) Wabash pf B.... Waldorf (1%).. Ward Baking B. ‘Warner Plctutes Warren Co (4. West Elec pf (7). West Maryland. West Md 2d pf. . Westn Pac (5a). 25 West Union (7). 132 West Afr Br (8). 128 Westinghs (4).. 75% Weston Elec. 1 W’esmn A (2) &L Erie Whito Eagle (2). White Mot (4). White Rock (12) Wickwire ctfs. . Willys-Overld. . Willys-0d pf(7). Wilson & Co pf.. Woolworth (3).. Wright Aero(1). *0dd lot. fPartly extra. {Payable In x, Dividend rates as given in e tbove :..,u are th caan vayments bgaed o fates m or half-yearly unlnn- nie Fwiee noted. extrdd or dividends are not inclu 154 69 21% 4 111% 16% 23% 96% 45 3% 194 1044 20 165% 21 21 e 264 GERMAN BONDS AND STOCKS. (Quoted in dollars per mi §:\‘3( (wln) 55 lDlA 18 d Iolni Brg e e uoted in do!hu per thoue ger s Elec 458 prerw 19, fer c,u',’ 5 510" | member banks of the Faderal Reserve BOND BUYERS PICK INDIVIDUAL ISSUES! Prenth Government Securities Again Leaders in Foreign List. Trading Proceeds Quietly. BY GEORGE T. HUGHES. S$pecial Dispatch to The Star. NEW YORK. August 15.—Trading in bonds proceeded quietly at the end 6f the week, with attention centered on a few individual issues rather than on the list as a whole. In the foreign group French government obligations were again the leadeérs, with fractional advances by French Republic 8, now selilng approximately at the high of the vear. On the other hand, the Ger- man 7s rallfed only slightly from the low point of Friday In the ralls, Chicago, Terre Haute and Southeastern incomes were & fea- ture, with a gain of a point, and New aven tvn\'trflble €8 s6ld at the high of the moveme! 8o far, howe: r, New Haven bonds have lagged behind, notwithstanding the speculative enthusiasm shown for the stocks and the reportad re- fusal by the New Haven of an offer holdings of Ontario and Western Denver und Rlo Grande Western 5s were in demand at the Dest price of recent sessions. In industrials, convertible oil is- Sues were strong, in sympathy with the better tone of ofl stocks, Sinclair 6s at owe time being up almost a point. Sugar bonds were still heavy New financing this week has been the smallest of the vear, but séveral new offerings are expected next weelk, among themn a number of German issues. The weekly statement of the Bystem showed a drép of $15,000, 060 in inveatment holdings other than United Statex Government obliga- tions. The total of such investments, { howaver, is $348,000,000 above what it was a vear ago. BARELY STEADY TONE IN COTTON TRADING Decline of 7 to 15 Points at Open- ing—Offerings Increase as Business Progresses. By the Associsted Pross. NEW YORK, August 15.—The cot- ton market opened farely steady today at a decline of 7 to 15 points in re- sponse to relatively easv Liverpool cables and reports of lower tempera- tures in the Eastern belt Early offerings were soon absorbed by trade buying and covering, how- ever, and the market s0ld 5 to & pointe net higher, Décember advancing to 23.83. Offerings increased at the higher figures and later fluctuations were rather Irregular, but the market showed a fairly steady tone at the end | of the first hour. | Cotton futures closed steady at a net decline 6 to 18 points. i First Trades Show m NEW ORLEANS, August 15 (# — | The cotton market had an eassy open. ing owing to the fact that Liverpool was considerably lower than due. First trades here showed losses of 11 to 13 | points, and prices eased off further after the call, Octobér trading down to 22.76 and December to 22.99. The early weakness was partly due to rain in Texas. Prices soon rallied sharply on covering over the week end, Octo- ber moving up to 23.03 and December o 23.20 Cotton futures closed steady at a net decline of 14 to 15 points. Fair I)emxnd in Liverpool. LIVERPOOL, August 15 ) ton. spot, falr demand; prices sceady.: American, strietly 'md middling. 13.86; good midditng, 13 strictly middling, 13.31; middling, 13.06; strict ly low middling, 12.76; low middling, 12.41; strictly good ordinary, 12.01: good ordinary., 114 Sales, 4,000 bales, including 2.800 American. Re. ceipts, 2,000 bales, inecluding American. Futures closed $teady; August, 12.60; October, December, 1233, January, March, 1 2.49; Ju CHICAGO LIVE STOCK MARKET CHICAGO, August 15 (United States Department of Agriculture).— Receipts, 1,500 head, mostly ged at Frid low point; 10 lower than average; bulk de- sirable 140 to 210 pound weight, 13.70 213.90; top, 14.00; bulk, 225 to 300 pound butchers, 13.40a13.50; packing #ows largely 11.85a12.20; shippers. 5.00 ¢stimated holdover, 6,000, heavy- | 13.00213.60; medium, l!.lnl .75; light, 12.25a14.00; light Ilights, 00214.00; packing sows, 11.70a12.35; slaughter pigs, 13.00213.85. Cattle—Receipts, 1,000 head, after & fairly active week, all grades of fat Steers except chofce heavies, strictly choice yearlings, closéd in rut, weak to unevenly lower; mo#t yearlings and medium weight, 50 off, spots more; ehoice heavies and yearlings special: ties to 50 higher; top on heavies 60 up; at 16.10 for 1,192 to 1,516 pound averages; heavies in broad de- mand most of week; yearlings in dol- drums; best long yearlings, 15.90; few above 15.00; general trade very un- éven; undertone at close indicating further readjustment downward in résponse to weakened dress trade; grassers closing mostly 25 off; stock- ers and teeders steady to strong: spots 25 highef; fat cows, ednners and cutters steady; heifers and grass bulls, 50 to 75; some dealers, 50 to 1.00 up. Bulk prices follow. Grain_fed steers, 11.50a16.26; grass steers, 7.75a9.80; féd cows, 6.50a8.50; grass cows, 4.00a6.00; grass heifers, 5.50a7.25; canners and cutters, 3.00a 3.60; veal calves, 12.50a13.60; stockers and feeders, 6.25a8.00. Sheep—Receipts, 3,000 head; for Wweek around 14,000 head direct and 167 cars from feeling stations; today's receipts, mostly direct, marked nomi- nal; compared week ago, fat lambs strong to 25 higher, natives showing most _advance; cull natives steady; feeders fully steady, country demand broad; light and handy weight aged sheep and yéarlings mostly steady; heavy fat ewes weak under slow de- mand; top range lambs, both fat and feeder, 15.60; native top, prices follow fat lambs, 14.50a15.50; culls, 11.00a11.50; feeding larmbs, 14.50 a15.50; fat ewes, 6.50a7.50; yearlings, wethers, 11.00a12.00. by S BOSTON STOCK MARKET. BOSTON, August 15.—Following is a list of today's highest, lowest and closing prices for the most active stocks dealt in here: moskess . i Det Edison re? 6 @:BONDS STOCK EXCHANG! Recelved by Private Wire Direct to The Star Office. UNITED STATES. (A M Sales. High. Low. Close. 25 100 28 100 27 100 28 8 102 101 27 101 27 18 100 30 100 28 100 28 18 101 14 101 12 101 12 102 6 1023 1025 102 22 102 22 102 22 11 1068 1064 1068 FOREIGN. Sales. High. Low. Close. 1298 95% 6% 95% Lib3%s... Lib 1st4%s Lib 20 43%s. Lib 34 4%s. Lib4th 4 %8 U B ds 1944, US4ys'52 Argentine 65°59. .. Argentine 65 A. Argentine 6sB. Argentine 7, Aus govt 68 ‘85 Austria 7s. Belgium Belgium wsw Bolivia 8s. Brazil T%s. Brazil 8s Canada 56 1926, Canada uq 1931, 2. Canada S%l 1929 Chile 751943, Chile 85 1941. Chile 85 1946, - ~3Ruunarsa-—vareanB8Rensnil Denthark 8s. Denmark 83 DEI%s Heh DEI5%s Nov" Dutch East I 8 Dutch East 1 T alvador g6 g Finland s f s 45 Finlands 7s. Framertean French 7s. French 7%s French 8s Ger Bl 4% German 7s Ger Gen Bilec 7s 8 :uoum.-.-.m_:. w=3 233 Haftf 6. . Holland Amer 63 Hungary y Japanese 4s. .. Tapanese 634 s Jergens U M 63 "47. S»uuu Netherlands Nord §%s.. Norway 5%s wi. [T TORV V- NN P < CP SO ST Norway 85 Orient Dev deb 6s. . Paris-Ly's-Med és. Paris-Ly's-Med 7s. Paris OrleansTs... Perufs. .. Poland 85 Prague 7%s... Queensland 7s.. ... Riode Jan 85 1946, Rio de Jan s 1447, Sao Paulc City 8s.. Serbs Crot Sio 8s. . Sotssons 6s. Sweden 5145 ct. Sweden 6s. Swiss 5% 1946 Swiss Confed Kingm 5% Ud Kingm 51537, P @ 10074 104% 102% 116 118 106% MISCELLANEOUS. Am AgrChem §s.. 9 102% Am Agr Chem Tls 35 103% Am Chain sf 6533 AmSmit& Ristss Am Sug ret . AmT & Tel ern AmMT & Tl AmMTETaris., AmT & Tdeb 5% Am Writ Paper 6 Anaconda 1st 8s. . Anaconda ev ab 7s. Andes Cop 78 rets Armour & Co 4%s. Armour Del $%s. . Assoclated Ofl 63 Atlantie Refin 5 Bell Tel Pa bs. Beth Steel pm Beth Steel £t 5s | Heti Rieel 5% ‘63 Beth Steel s £ 6 Bk yn Ed gen 58. Bkiyn Ed 6s B. Rrooklyn Unfon bs. Bush T Bldg 55 '60. Cailf Pete 8145, Cen Leth 6345 cfs Chile Copper s Col Gas & Bl 5s. ... Commonwth P 6s. . Con Coal Md 1st 55, Con G NY 5%s wi. Consumers Pow 53. Cuba Canecvd fs.. Cuban Am Sug 8s.. Dery (D G) 7s. Det Edison 55 40 — - o e L T TN Py S-Sy A PNy St Dodge wi6s. . Donner Steei 7s. ... Duguesne Light 6s. st Cuba Sug 7%8. Erpire G & F 1is. Goodrich 6% - Goodyrear $s 1931 Goodyear 85 1941 Hershey 5% s wi. Hershey 88 1943. Humble O & R5%s Illinois Bell 18t bs. Tilinofs Steel 4%s.. nt Paper 68'47.... Inter Paper % KCP&Ltss A 51 Kelly-Spring Keystone Te Laclede G 5%s " Liggett & Myers §3 Louisv G & 1 55 '§3 Mia-Con 6348 Midvale Stee Montana Pow Mor's & Co 15t 4% 8 New Bng Tel5s. ... NYEd5s 44 wi. Nor States Pow 6 Pacific Gas & Bl 5s. Pan-Amer Pete 65. Peoples Gas 5s. Phila Coref §s A PR TD DD S N O N e e DS e O Publie Service P Serv Gas 5% Sinclair Ofl Sinclair O11 6% Stnelair Of1 78 S§inCOPL Sin Pipe Lin Skelly O11 6%, 5o Por Rico Sug Ts. bes- PN o e [EPYN RIS SHBPUS I . - PRt United Drug 6s. U § Rub ist rf § U § Rubber 7%, U 8 Sméiter & USSieelstss. . Utah Pow & Lt 6s.. Va-Car Chem 7s. Va-Car Ch T%sw.. Vertientes Sug 7 Warner Sug 78 Westn Union § Westinghouse 7. Willys-Ov 634533, Wilson & Co 18t 6s. Wilson & Cocv 65. . Youngstn S & T 8s. 15 RAILROAD. Atchifon gén 48 Atlantlc C L ist 4s. B&O Sw Div bs cfs. 1yn Manhat 6 Canad North 6%s. . Canad Nérth 7s... .. i Ssles. High. Low. Close. Canad Pac deb 4s. . 9% 79% Qo annan. gg!ggg!gggz RacHTTRRRRe 13 3=~ JOYON -5 S0P Savete—tolawnd olcmanms Del & Hd 18t rf ds Del & Hud $%s.... Den & Rio Gen ds.. D& Rio G imp 58 D& RIOG Wst bs.. Det United 448 Brie gen ds. . ErfeconvisA.. Erteconv 4s B. Erieconv 4s D. . Fia W& N 784 Gr Trunk sf db 6s. . Great North 5%s. . Gr North gen 1, Hud & Man ref 5. Hud & Man af 5. 111 Cont ref 56 ‘5| 111 Central 5% s 111 C-C St L&NO 5s. Int Rap Tran b Int Rap Tr 65 stpd. Int Rap Tran 6s. e, 8= Pk PO BRh NN ONNARO~ O~ ANCNNNS ~ERAr AN BBRN = KansasCity Kan City Te: Lake Shore 4548 Lehigh Val 55 3003 . Louis & Nash 5 %s. Man Ry 24 4s 2013 Market St MK&TprinbsA. Mo Pacific gen 4s. . Mo Pac 58 1965 Mo Pacific 6s. No-rex&ns;a' New Hav d 4s'57. . New Havencdés.. NYOntWistds.. N Y Rys 63°65.. Y State Ry 4 %s. NY W&Bos 4% Norfolk & W cv 6s. orthern Pac 4s. Northern Pacr1és Ore & Calif 18t bs. . Pennsyl con 4%s. . Pennsy! xen bs Pennsyl s ‘64 Pennsyl 6%s. Pennsyi gold 7s. Peoria & E inc 4s. . Fieading sen ¢ %s. . RIArk& L i%s 8t L IM&S R&G 4 Soancamn &t L S W eon 4s'32 Beabd A Liref ds. .. Beabd A L adj $s. . Seabd A L con 6s Sou Pactfic 45 °29. . Sou Pacific clt 4s. . Sou Pacific ref 4s Southern Ry gen 43 Southern Ry 1st §s Seuthern Ry 6%s. . Tetm Asse St L 5s Third Averet ds... Third Aveadsss Unlon Pae 1st ds Union Pac 4s ‘217, Un Pac 1st rf 5s. Unlon Pac ov 6s. Virzinia Ry 1st 5s. Va Ry & P 1st 5s. Wabash 2d 5s..... Wabash 5145 75... Western Md 4s.... Western Pacific 53. Wisconsin Cent 4s. SHORT-TERM SECU!ITIES (Quotations furnished by Redmond & Co.) ——Closs, , R WA, RO PR B NR D —a B e : ! > 5T Adiron Atum Amer, - 222553333323283222222 ., ::. .;:}, &oLipg o 1684 e At o %::z flhifif"fiqi Y TREASURY CERTIFICATES. (Quotations furnished by Redmeand & Co. . by . ) = P b ettt it & FOPEFEITISEGEILGE TEREE ¥ & FOREIGN EXCHAN(!I. (Quotations furni, kholm, erown By the Aseociated Press. NEW YORK, August 18.—Féreign éxchanges steady. Quotations in deits: Great Britain, demand, 485 7-16; cables, 485 13-16; 60-day bills on bank: 481%. France, demand, 4.66%; cdble: :.:7“. Italy, demand, 3.61; cables, 1% Demand: Belgium, 4.50%: Germl.ny 23.80; Holland, 40.24; Norw: 8% Mon'uelu 100 1-16. Alps to Have Aerial Railway. Cerrespondencs of the Associated Press. MUNICH, July 26—Construction of a suspension railway, the first of its kind in the Bavarian and A Alfe, tias ean staried. undde sefciion the Blvlfllll jovernment, to run from Garmisch trehen to e the Kreuzéckhaus, a favorite goal of many tourists. 0 rallway will be able to carry 1 ngers per hour letion of # 18 SEpeSied by FINANC IRREGULAR MARKET IN STOCKS SHOWN Review for Week Indicates Upward Trend, With Buoy- ancy in Industrials. By the Associsted Press. NEW YORK, August 15.—Further ifregularity developed in this week's stock market, with the general list pointing upward and the rails super- #éding the Industrials as leaders of the advance. Spirited bidding for the rails, particularly the low-priced is- sues, carried the general railroad aver- age to thé highest level in eight years, while the extreme buovancy of the high-priced industrials pushed the general industrial average to the high- e6t figure in the history of the stock exchange. Bullish Operations Inspired. Bullish operations were inspired by a large quota of favorable trade news. This included the publication of sta- tistics showing that freight car-load- ings for the last week in July were the largest of any corresponding week on record, and at a new high level for the Yyear; publication of a favorable for- eign’ trade statement for July: tem- porary establishment of the highest price since last February for copper, and the declaration of an extra cash dividend of $1 on the common stock of the General Motors Co. Lowering of call money rates, an increase in the Federal Reserve ratios for boti the New York bank and the svstem as & whole, and the announcement of an agreement between Great Britaln and France regarding a security pact also were regarded as favorable influences Unfavorable factors included addi- tional cuts in automobile and gaso- line prices, and another increase in crude oil output last week. Oils were persistently hammered by bear trad- ers, who succeeded in forcing ex- tenstve liquidation of these issues, about a dozen of which sagged to new low levels for the year. With the exception of the companies en- gaged in the manufacture of trucks and busses, most of the motors also were Inclined to heaviness Steel Relatively Flrm. Steel shares held relatively firm While the decrease of about 170,000 tons in the July unfilled orders of the United States Steel Corporation was a little larger than Wail Street had expected, reports from the steel centers indicated expanding mill operations and stiffening price ten- dencfes. FEquipments also held firm in anticipation of larger railroad or- ders next month General Raijlway Rignal, Westinghouse Airbrake and Weston Electric Instrument, which are engaged in the manufacture of automatic train-control devices, mounted to new high levels for the copper. Coppers improved under the lead- ership of American Smelting, which erossed 105 to the highest price in § vears Outstanding railroad group and Ohio, New strong spots in the included Chespeake Haven, New York, Ontario and Western, Norfolk and Western, Frisco common and the Erie and Wabash issues. all of which s0ld at their highest prices in a vear or longer during the weel GRAIN AND PROVISIONS. BALTIMORE, August Neéw potatoes, barrel. 1 1.25a1.50; bushel. 7 | ushel, 40250. ~Beets Cabbage, 100, 2.0043.00. toes, barrel, 3 4.0024.50. Corn, dozen, (Special).— 26.00:_culls, 00. Beans, 100, 1.00a2.00 IAL. D. C. STOCK MARKET IMPROVES STATUS Large Increase in Exchange Business of Record Since Year 1925 Opened. BY CHAS. P. SHAEFFER. The Washington Stock Exchange. thus far in 1925, has effaced much of the jocular embellishments formerly directed toward it, and has blossomed forth as an honest-to-goodness meet ing place for the exchange of se curities. Reason for this changed attitude lies in the enormous activity cenduct ¢4 there during the first 28 weeks of this year. The activity, in turn, results from the attractive speculations and Investments offered, the spirit of thrift which has been inculcated in the pub- lic and the gradual cultivation of Washington and vieinity to homs grown products. All thess has con verted a verbal rodes into a stock exchange that takes its rank with any city of corresponding size in the country, and has created such a de mand for memberships that there is now a waiting list, in direct contrast to the chairs that went begging only short time ago. Total of 59,577 Shares. Records show a total of 53,577 shares of stock have been exchanged on the local market thus far this year a8 compared wAth only 23,329 on the. same date last year. This gain of 35,748 is paralleled by the bond list, which. to date. shows face value ex changes of $1.419.100, as against only $1,091,300 for the same period of last vear. Not to be outdone, the unlistad department shows 1,202 stock trans. actions this vear, to date, as against only 453 for the same 2% weeks of last year. Last vear Railway common proved the mest popular utility issue on the list, closely followed by Railway pre. ferred. and by Washington Gas stock The lead this vear has been taken by Capital Traction, of which 8043 shares have been publiely traded in Then follows Gas with 7,150 shares Lanston Monotype with 5,562 shares and Railway common with 4,054 In the bond list compilation year’s lead has been taken by Raflway General 6s, which were not even among the leaders in 1924. Raflway consolidated 4s, last year's big bond favorite, are now running in second place, while Gas 6s are third favor ites. thie Fewer Failures in U. S. A considerable decrease in the num ber of failures in the United States is reported to R. G. Dun & Co. this week, the total being 319. This is 43 less than the number last week and 54 below the 373 defaults of a vear ago. All sections of the country show | decrenses in comparison with the re llU'n for last week, and also for this | week of 1924. Of the current week's failures 179 involve Mabilities of more than $5.000 in each case, which compares with 201 similar defaults {last week and 195 a vear a | Owing to a decrease at New Tork City. the increase in banfy clearings this week for the country a whole {is smaller than iIn recent weeks, lead {ing cities reporting an aggregate of 1$7.750,652,000 to Dun's Review. This 118 2.3 per cent more than the amount tor the corresponding period of 1324, wheseas there was a gain last week of 3.5 per cent. Personal Mention. Howard M. Coel, director of the local Better Business Bureau, is taking - |a two-week vacation at Virginia Beach Fernand Petit, cashier of the Citl- Celery, crate, hasket, 1 50. Lettuce beans, bushel 1.56a2.25. Peppers Onions, bushel, basket 10a20. 25a50; green, bushel, 50a80. Apples, barrel, 50a2.00. ' Peache: Damsons, basket, 75a9 crate, $0a1:00; basket berries, quart, 12a15 quart, 20a22! Pears, bushel, 1.00. Watermelons. C}HCAGO GRAIN MARK.ET CHICAGO, August 15 (#).—Despite an unexpected upturn in Liverpool quotations the wheat ket wnderwent a sharp in today during the e dealings. Downturns in value were ascribed largely to bearish crop reports from Canada. Considerable attention was also being given to persistent dearth of export business and the possibilities that northwestern markets would sink 160 a shipping basis under Chicago. ‘The opening, % lower to % higher, feptember 1.60 to 1.61 and December 1.58% to 158%. was Jollowed by a drop that carried September down to $1.58 and December to $1.56. In the absence of any pressure to sell, corn and oats were relatively firm as compared with wheat. After Cucumbers, basket, 40a Peas, bushel hlmp»v— ng stock 1.00a3 bushe huehrl 50 [¢ nmoupe-z 35a50. * Black- Huckleberries, s. basket, 30a50. basket, 75a fia4a price 1.04 to 1.05, the corn market de- clinéd fractionally all around, but then rallied to yesterday's finish or above. Oats started unchanged to %a% lower, September 40% to 407%, and later held near the initial range. In Hne with hog values, the pro- Vlalan mlrkel was easy. xoxE Low. il :z§ 18 1.05 (1,:-- CLEARING HOUSE REPORT. NEW YORK, August 15 (#).—The actual condition of clearing house banks and trust companies for the week shows excess reserve of $5,067,- 270. This is a decrease in reserve of $14,690,150, compared with last week. Dmnms "?’{W' lAm Me Ceniral p Elm Oil of Ohio 'n_Cig Stores Heat Made Britons Thirsty. Correspondenca of the Associald Press LONDON, July 22.—The recent pro- longed spell of hot weather, most un- usual for England, has been respon: blé for an unusual consumption of lemons. In four weeks 52,500,000 of the fruit have been consumed in Great Britaln. That quantity represents the imports for June, and s 15,000,000 more than the usual monthly consign- ments from Italy Foodstuffs exported by this country this year will total twice the value of those 10 vedrs ago. Germany has a union of iron and #teel pipé manufacturers which con- trols the prices. 2 Lima | here | opening at % off to 3 up, September | jzens’ Savings Bank, leaves Manday | for a two-week motor trip into Canada. |CLAQUERS HELD FRAUDS | BY JUDGE IN AUSTRIA 1 SIS Cannot Force Payment of Wages He Decides in Case. | by Composer, Correspondence of the Associated Press | VIENNA, July 22.—Organized ap- | plause constitutes a_deception of the public, In the opinion of a Vienna judge. Persons engazed to do the hand-clapping and to voice their ap plause in other ways cannot claim { remuneration. The case arose from a dispute be- tween Dr. Stefan. composer of a comic opera entitled ‘Agri.” and the leader {6f a claque at the Rugtheater. where Ithe first_performance of “Agri {glven. The leader claimed that the composer had agreed to employ the sgrvice of the claque, and that the claquers had rendered a manual sery {ice worth 500,000 crowns. The judge declined to hear just what the arrangement between the two was, and rendered judgment against the chief of the claqueurs on the grounds that the activity of a claque constitutes & fraud upon the public and that it is “immoral.” —ay, HIGH RATE SUSPENDED. Proposed Increase on Lumber to Southern Cities Held Up. Increasés in rates on lumber mov- ing to Virginia cities and points ir North Carolina from general South: ern territory, which raflroads pro posed to make effactive today, have been suspended by an order of the Interstate Commerce Commission until December 13. Present rates must be maintained at least until the commission conludes a finding as to the fairness of the increases pro posed. Ilustrating the advances contem- plated by the suspended schedules the commission’s announcement said that present lumber ratea from Golds- boro, N. C., to Norfolk, are 11% cents per hundred pounds and would be under the new schedules increased to 13 1-3 cents; from Sumter, S. C. to Richmond, present rates are 15% cents and the proposed 20%: from Albany, Ga., to Norfolk, they are 23% cents and would be 31 cents; and from Hattlesburg, Miss., to Rich- mond, they are 33 cents and would become 38 cents. CHICAGO STOCK MARKET. CHICAGO. August 15—Following is & report of today’s sales, high, low and closing quotations at the Chicago Stock Exchange: Saler. i ,o rmour MM ptd. 1 1B B0ST neck ommon w) SR g»u:g FRNE ¥ ! b - 3w Swand SaliuRonsbiss e FEE PEFFES F F 5 S8 FFE P B REER B R R O o IS s S ouElolonmaumy