Evening Star Newspaper, September 2, 1925, Page 22

ot FISANCIAL STAR. WASHINGTON, D. ¢ WEDNE DAY SEPTEMBER 2. 1925, MM PRICESAREWEAK IN FINAL TRADING: 1 Open. High | Abitibi Pow (4). o 6. Adams Exp (8) e | Ad Rumiey pf(3) A | Ahumada «t1).. Alr Ry t5 Lowest Quotations of Day|4r Reaucineiiy Recorded in Many ISsues | A am eaiat i | Alied Chem (4) in Last Hour. | A1is Camtoids | Allis Chal pf (7) e L Am Avrteat Ch Am Az Chmy Am Beet Su;(4) BY STUART P. W 1l Dispatch to The Star {‘am Boden NEW YORK. September The | Am Brk Shoe ) heavy selling which set in toward the | Am Can (+1) close of the Stock rket Tueminy‘firu-,‘& Fdy (8) continued today. Professional senti-{ Am &+ pf (7 ment has been against the market | Am chain A (2) for some time., not in consequence | Am Chi of any changes in outside business! Am C prospects, but because of the belief | Am b, that speculation in some of the in-!Am dustrials, especially the high-p l('mi‘Am For Pow. members of the group, had been over-| Am & F 1 pt (7) done. | Am Hide & Lea Am Hide & L pf Am Tee (7) Am Internat! S Industrials in Break. In view of the extravagant charac- ter of the rise in the high priced in-| Am La Fran (1) dustrials, these were the stocks 10| Am I.insead break the most eneral Railway | Am Foco (+18) nal_had quite a collapse. so did | Am T.oco pf (1) Nash Motors. Losses of five points or | &y Matar.( more occurred in Mack Trucks, Gen-i Am Metal pf (1) 1 Electric and American Can be- Am Radiator (4) e there was any check at all. But | Am Safety R (3) dwin Locomctive proved the ; om Ship&Com teadying influence, pushing forward | Am S & Ret (6) henever the general market gave it | Am Snuff (123, chance. Operators for the rise were | Au Stl Fdys (3) thought to be concentratinz upon|Am Sugar...... Galdwin, with the idea of making the | am Suear pf 17) horts in other parts of the list feel | Am Tel&Ca (5) tess confident. { Am Te &Tel (9) 3 Am Tobaceo (7) Utility Stocks Weak. A Tohe = (1 Public utility Am Ty Fdrs(s were weak, these being Am W ° &1 ount of their big advance Am W W st early Summer. International Am Woolen. .. . phone and Telegraph fell quickly over | Am Wool pf (7) i . 4 ted Gas of New ; Am Writ Pap pf Y Colum nd Public | Am Zine ice of New Jersev soid off sharply.!Am Zinc pf United Ratlway investment preferred, | Anaconda (3) which was off 4 points on the pre- | Areher-Daniels vious day. dropped another 5 60 ! Arch-Dan pf it compared with the year's high of | Armour 11/ A §31,. American Water Works rallied | Armour Del () &fter the » per cent stock dividend . Arn Cons&Co declarat 3 was down 4 | Artloom Corpn. high of the vear Asso Dry G2 Asso Ol (). | Atenison (7) Atchison pf (5 At Birm & At | Atiantic CL(+7) At Gult & W 1 ic Gulf rts poir ira Wi pt 118 a9 i 110% 598 iy 107% 145 39% 639 99': 10 1401 991, 98t 114 stocks in Shares Lower. Railway shares the fluctuations in Reading was driven n talk of prospective then I partial rally veake was down a ind Tex nd Pacific | Atiantic Refine nearly 3 points. St. Louis-Southwest- | Atlas Powdr (4) kn st its Jow of the day was GIf sowe | AtIAs Tack.. 2 points from its top | Austin-Nichols Seaboard Air Line was off over a | Raldwin L (7) peint from the day before. Erie com-| Bald Loco pf(7) mon was down nearly 5 points from [ Balto & Ohio(3) the top and Kansas City | Bal& Oh pf (1) Southern,nearly 5 points. Banz & Ar (3) The market continued very much; Bang & Av pfi7) ettled in the late trading. United | Barnsdalt A Steel rallied from 1181 to| Rarnsdall B hen fell States | Bayuk Cigar Sloss-Shettield So | Beech Nut(> United States Rubber Beldinz Bros(3) ‘ater Works rebounded Rethiehem St nts. Havana Electric also had a ' Beth St!pf (7) r recovery, but Electric Power and | Booth Fisheries Light certificates broke over 2 points| Brizg on heavy selling { Est Ditimon (8 ) | BkI-M MARK { Bl Un Brown Brunswick-Balk Brunswick { Burns Bro (10) ! Bur Add Ma (3) | Bush Terminal Bush Ter de (7) Butte Cop (50c) ; Butte & Sup (1) hour. | Ca' Packing (6) llowed ral list arly 2| strike | Ches: carefully the gen down 6% 184'2 U 9xYy 50 session’s back. G American nearly 5 " CLO: WEAK Coal Carriers Under Special Pressure. Mack Trucks Off. YORK el r was NEW The ) lowest September 2 g weak. Th s of the day we rded by dividend-paying rails and high priced specialties in the final ack Trucks broke 9 points 200, | Ca’ Pac and Ame n Can fell back 8 point Calif Pemt (2) Anthracite coal carriers encountered | (al'ahun Zinc renewed selling pressure coinefdent | Calumet & Ar (4 with the curtailment of operations in | Can Pacific (10) the hard coal districts | Case Threshing Sales approximated 1 Case Thresh pf | Cent Leather. Cent Leather pl | Century Rib (2) Cerrod Pasco(4) Certain-Teed (4) | Chandler (3)... liquida- | Chees&Ohio ¢4) insetiles | Ches&O pf(61z) me | Chi & Alton Chi & Alton pf rec 0.000 shares Markets at a Glance NEW YORK--Stocks weak tion of high-priced shares market ds steady: Irisco 65 lead upturn in rails. Foreign ex changes mixed: Ttalian lira approaches : Chi & East 111 pf 4.cent level. Cotton nced. bullish | Chi Great West weekly weather report. de- { Chi Gr West pI.. clined: easier spot mark: offee | Chi Mil & StP. firm: higher ilian cables | Chi Mil & StP pt {Chi & Nwn (4).. predic- | Chi Pneu T (5) steady: | Chi R1& Pac. Cattle [CR T & P pf (6) lower: | C R1& P pf (7) | Childs ($2.40) | Chile Cop (232) | Chino Copper | Chrysler Corpn. — | Chrysler pf A(8) | Coca-Cola (7). .. { Col Fuel & Iron sts (38 | Colo Southern. .. tock, | Col G & E (2.60). { Col Carbon (4) es: { Com Inv (2.50) Com Solv A (4). ne Br CHICAGO — Wheat tions larger receipts. less favorable crop 1 Hogs ckers fnactive. weak Corn ounts. steady to NEW YORK DAIRY PRICES. NEW YORK. Septembe Butter—Firm: receipts, 16 creamery, higher than extra, 46 do., extra (92 score). 46; do.. to 91 score) current make. Eggs—Fhrm fresh gathered ex 5 io. storage, 3 fresh gathered | Com Solv B. . firsts. 34; do.., storage { Congoleum (2). fresh gathered seconds. 12a32: do., | Consa! Cigar. storage. nearby henner, 1 Con Cig pf(t83) browns, extras, 42a5 | Consol Distribut . Conzol Gas (5).. Conso! Text . DIVIDENDS. Cont Can (4).... Cont Insur (6) sosi®'ts | Cont Mot (80¢) .. St 12| Corn Prod (). Pt 15 | Cotty, Ine (3.80) S0 | Cres Carpet (4) Sept Crucible Stl (4). Sept 1 Crucible pf (7) St 12| Cub Cane Su pf bt 15 | Cuban-Am S (2). Seot 1ban Domin 20 uban Dom pf . Cudahy Pkg (7). Cushman’s (3) | Cuyamel Fr (4). Sept: Sept. Sept 3e0t- 12 | Dantel Boone. . P11 Pavison Chem. . | De Beers (1.92) . | Deere&Co pf (3). | Del & Hud (9). son——— . | Del L & Wn (17) ; otier. IDRG Wst pf. | Dodze Bros Cl A epf (). Nome Mines (2). Pectin (1) . S & Atlan. | Dupont (9). sne pf Do Ot o ot ot Ot Oct Ot 15 1 i i 1 Oct. 1 : 1 i 1 1 1 it Henneoolt Cop Man. Elac. Sup Midind Sti Pro Do Do Do Pree-Arw p Smmons o oct Oct Ot Oct Oct Oct Ot TREASURY CERTIFICATES. Quotations furnished by f 100 100 FOREIGN EXCHAN +Quotations furnished by Nominai gold value S4.8665 100 aton Axle (2) Elec Powr & Lt. BiP&Lof (7)., |E“' L pf 40% po E'ec str Bat (4). | Smmerson Brot. Emmearson B pf. nd John (3) B | Erie 15t pt.. | e | Exchange (1%) . | Fairbks (2.60).. Famous P1(8).. 3 | Famous P1 fu pd NEW YORK, September 2 ().— | Federal Lt *1.40. g:mgu exchanges, irregular. Quota- | Fed Min pf (7). ns (In cents): Great Britain, de- | First NatP pf(8) mand, 484%; cables, 485%; 60-day | Fisher Body (5). bills on banks, 481%: France, de-|Fisk Rubb . mand, 4.69%; cables, 4.70; Italy, de- |Fisk R 1st pf (1) mand, 3.941;: cables, 3.95. Demand: | FTeischmann(i5) Belgium, 4.48 Germany, 23.80: | Foundation (8). Holland, Norwa: 0.47; | Freeport-Texas. tiweden. : Denma 24.47; | Gabriel A (235). Switzerland, 19.313%; Spain, 19.30; | Gaonier Ao Greece, 1.49; Poland, 18%; Czecho-|Gen Am Tnk (3) elovaki 96; _ Jugoslavia, 1.79; | Gen Asphalt. .. . Austria, 14%: Rumania, 49%; Ar-|Gen Asph pf (5). zentine, 40.04: Brazil, 13.12; Shang- | Gen Baking (6). hai, R%0%; Tokio, 405: Montreal.|Gen Electric (8). N0 1-16 London. pound Montreal. dollar. Paris. frane. Rruseels. franc Berlin, mark Rome.' Jira. Zarioh. fre Athens, drachma. Madrid, peseta. Vienna. crown Budapest. crown..... Prague. crown..... Warsaw. zloty. . openhagen, Crown, hristiania, ccown. Siockholm.” crown. 1613 014 1416 00014 14 0001 Low 10 10: % 167% 105% 31% 15% 3% 9l 47% 51% 95% 171 305 Close. | 65 | Gen %1 spec 80 91% | Ger Mootrs (17). 55 Gen Mol pl (7).. 10 | Gen Outdr Adv. . 103% | Gen Outdr A(4). Gen Petrm (2). Gen k. 6). . Gen Refrac(2) Gimbel Bros Jinter (114) Gliduen Co i01d Dust Goodrich Itu (4) Goodrich pf (7). Goodyear pf (7) ‘onsol. Gre North pf (5) C .. irt Wstn Su (8) | Guantanamo. ... ar Nor. . 1 M & N pf (6) Gu.f States S (2) Hartman (23).. Havana Klec (8) | Hayes Whi #31; Homestake (14) Household P (3) Houston Ofl. ilowe Sound Hadson Mr (2 Hud Man pf (5) tiudson Mot (3) Hupp Mot (1).. 1Mlinots Cen (7). Indep Ol (1).. Indian Motorey . Indian Refining Indlan Refz ctfs *Ingersoll R(8) Inlund St (215) . Inspir Cop (50¢) Tnterub Rap Tr Internat Agri. .. Tnt Bus Mac (8) Int Cement (1) .. In Cement pf(7). int Com Eng (2) Tnternat Har (5) Inter Har pf (7) int Mer Marine. Int Me» Mar pf. . Int Nickel (2) Inter Nick pf(6) Int Paper....... ver bt (7) Int Ry Cent Am. Int Shoe pf (8), Int Te! & Tel (6) Jewel Tea Jones Bros Tea Jones & Lau (7) Jordan Mot (3) Kan City Soutn rser (Julius) pring 1st Kelsey Whi (6). tiennecott (3) Keystone T & R. Kresge S S (8).. Laclede Gas (3) iee Tre & Rub. . Lehigh V | Lizgett & Liz & My B (14) Lima Loco (1) Loews Ine (2) | Lonz Bell A (4) Lorillard (3) { Louis Gas A 175 LLouistana Ol | Lonis & Ksh (§) Ludlum (2)..... Vetro B (1.60) Mackay ( Mackay pf (4). Mack Trucks :6) Mack Trks 1st pd Macy H R & Co Magma C « Vallison & Co Manati (5) Man Fl Sup (4). Man Man Bmd = (5). Man Shirt (13%) Manila Bl (213) Maracaibo O1l. Market Street Market St prior Mariand O (T6¢) Marlin Rock rts: Martin-Parry(2) May Dept St (5). Mexican Seabd !'\tiami Cop (1).. Mid-Continent. Middle States. .. | Midland P pf (18 Minn & St Louts. M St P & SSM pf | Mis Kan & Tex |MK&TDr(5).. | Missour! Pacifle. Missouri Pac pf. Mont Power (4). | Montgom Ward. Moon Mot (3)... Mother Lode The Motor-Meter (3) Motor Wheel (2) . Mullins B pf (3) Murray B (12.40) Nash Mot (116). Nat Biscult (3). Nat Cloak (4) ... Nat Cloak pf (7) Nat Dairy (3). Nat Dpt Stores. . Nat Distlllers. .. t Enamel & S at Lead (8). .. t Lead pf (7). Nat Ry Mex 1st. Nat Ry Mex 2d. . Nat Supply (3).. vada Copper Y Air Br (4) N Y Canners (2) N Y Central (7). NYCEStLPL(6) . ' ¥ Dock....... Y & Lack(7) N Y N H & Hart. N Y On&Wn (1). N Y Shipbld (2) Norfolk Sout Nort & West (7) North A (B3.40). rth Pac (5)... Norwalk (1.60). Nunnally (1)... Onyx Hostery. .. Orpheum: (1.80). Orpheum pf {(8). Otis Steel. . Otis Steel pf. Owens Bot (3) Pacific Gas (8).. Pacific Ofl (3). Packard (11.70). | Paige Mot(1.40). Pan-Amer (6)... Pan-Amer B (6). Pan-Amer rts. .. Park & Tilford. . Penick & Ford. . Pennsy R R (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4).. | Pere M prior(5) . Phla Co (4)..... Phila& RC&1. { Phiillp Morris. ., Philps Jones (2) { Phillips Pet (2). Phoenix Hosiery ?,g:’;y Pierce-Arrow. Sove | Pierce-Arrow p 10gs, | Bierce Oil eai. | Plerce Petrol 313 | Pitts Coal. 14 | Pitts Term Coal 71| Pitts Ut pf 11.20. 301; | PIttsU pf n(1.20) 38 Pitts & West Va. 354 | Postum Cer (4). 141 | Press Steel Car. 2| Prod & Refiners 44 | PubSelE Popf7 106 ! Pub Ser N.J.(3). 102 | Pub S N J pf (8) 27 .1 PubSe E&G pf 6. 574 Pullman Co (8). 102 ; Punta Aleg Sug. 79% | Pure Oil (1%).. 21 | Pure Ol pf (8).. 107% | poa 7% | Radio Corpof A. 1954 | Radio C pf (33%) o | Ry st1spe @8).. | Ray Cons Cop. .. 324 | Reading (4)..... 9% Reading rts. ... 475 | Reading 1st (2). 514 | Reading 24 (2).: 96% | Robt Reis & Co. . 175 | Remington Type 307 | Replogle Steel.. 110% 106 Open. High 114 877 1124 30 435 310 417 56 45 20' 424 B4lx 891 104 16 71 274 98 1 a1 102 80t 270 219% 380 45' a1y 41% 29% 80t 304 404 70% 69 101t 664 40% 33% 360 154 116% 4y 2% 57% 18% 481 49 119'% 93 31% 1003 36 291y 58 10 132% 57% 6815 17 12 3344 30 101 13 89 56 110% 52% 38% 203 4T 1% 115 70 8284 bT% 40% 24% 105! 81% 116 971 107 Low 1% 1% 147 13 0ty 129 Bb% 13% 105% 8% 116 9715 189% 381 26% 107 53tk 4814 130 13 3 17 9% 40 24 8 14 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Close 12% 139% | ~ 683 1085, | 1184 | 5 3 29 63% 901, 31 1167 121% 184 160 115% 40% a5% 14% | 655 655 314 ke 401 2915 80 304 01 70 59 13% 47 4845 | 11885 43% 14% 13 1% 129 b5% 18% 106% 78% 116 97% 139% 884 26% 1078 53% 48% 131% 13! 84 18 39% 40 24 8 1 INRAILROAD BONDS 1$70,000.000 Canadian Note | Issue Quickly Taken—U. S. | Liens Firm. BY GEORGE T. HUGHES., | Special Dispateh to The Star NEW YORK. September 2. —There was no weakness in bonds correspond- ing to that in stocks in today's trad- ing. Some of the more speculative is- sues reacted, but losses were small | and investment obligations were firm. United States vernment bonds showed no important echange and among the high-grade r: Baltimore { and Ohio first 4s were down, but New York Central s were up. West ern Electric debentures s and United States Steel sinking fund zained fractionally Rail Group Active. In the speculative railroad group Denver & Rio Grande Western s at tracted attention by their conspicuous strengih. There was very active deal ings in the St. Louis-San Francisco incomes, the price rallyi over g point from Tuesday's close before re acting. More or le<s the hond- kent Ipace with the stock on the theory | « that some offer f exchange 1mzht be made. St. Louis-San Francisco 4 | Justments_improved to a_les: 1 Flori Western and 3 points and then | advanced 3 | International Great Northern ments were lower, ax-Texas adjustments { support. Among the industrials | Telephone & +Telegraph 5128 were | heavy. zetting down below 103. In- | ternational Mercantile Marine s were |in demand above $3. Sugar bonds | continued to d Prices were gen- | erally steady in the foreign group. The Australian which broke two {points Tuesday were firm around | their new level. Anton Jurgen 6s, I which also. had considerable break Tuesday. steadied The German were taken in large volume frac- {tionally higher. There was no impor it change in French bonds. i he $70.000,000 one-vear 4 per cent | 1 Dominion of Canada notes offered at 99% to yield 4.25 per cent were i quickly subscribed. illustrating | high credit of the Canadian govern | ment i this market CALL MONEY EASIER. NEW YORK. September 2 (#).— i Call money. easier: high. 41: low, 4 | ruling rate. 4% closing bid, 4: of. fered at 4% last loan. 4: call loans gainst acceptances, 3% time loans mixed collateral. 6090 daye. 16 months. 41za1%; prime ptile naver. 4a4l: received good International 4R ay 8% 49 53% 40% 1007 4i% 8% 834 4 B34 Rep Ir & Steel ! Reynolds Sprngs » Tob B (3) { Royl D(a1.737:) Rutlard pf St Joseph Ld (2) StL & San F (5) | StL San F pt(6) L, Southwest %6 Arms. 65 | scfuite Stor(§5) | Seaboard Alr L | Seabd Air L pt. . Seagrave (1.20). Sears-Rebk (6). | Shaituck-Ariz Shattuck F G(2) Sheil Un (1.40) Simmons Co (2 Simmons pf (1) Simms Pet (1).. Sinelair Ofl. Skelly Oil. Sloss-Sheff (§) South Pac (6).. . Southern Ry (5). South Ry pf (5). IStdGas& Erts. Stand Mill (5) .. St Oil Calif (2).. StONINJ (1)... StOIlNJ pf (1) Std Plate Glass. Sterling Prod(4) Stew-Warner(5) | Stromberg (6). . Studebaker (4) .. Submarine Boat Superior Ol Symington. | Symington A( | Tenn Copper (1) Texas Co (3). Tex Guif Sul (8). 1 Tex & PacC & O Tex & Pacific. .. Third Avenu . Tide Water(2c) Timken R B (14) Tobac Prod (6). Tob Prod A (7) Transcont Ol Underwood (3).. Un Bag & Paper. Unlon Oil (1.30) . } Un Pacific (10) { Un Pacific pf (4) i Un Tank Car(5) Utd Alloy Steel. Utd Cigar(a3’s) United Drug (7) Ttd Fruit (10) Utd Ry Invest Utd Ry Inves pf. U S Cast Iron P U S Distributing U S Hoft (2).... U S Ind Alcohol U S Realty (8).. 304 | 4l% 90 104 3% 444 58% 334 139% 75 18 29% U S Rub 1st (3). U S Smelting(3). U S Steel (17) U S Steelpf (7) U S Tob pf ( iniversal Pipe.-. Cniver P pf (7). Uil PRL A (2).. Vanadium (2) Va-Caro Chem. . Va Caro Chem B. va-Caro Ch pf.. va Ry & Power. Vivaudou. .. Wabash. ... . Wabash pf A (5) Waldort (1%) .. Ward Baking A . Ward Baking B. Warner A (1%2). Warren Co (4).. West Pen (4) .. West Pen pf (7). W PaPow pL(7). West Elec pf(7). West Maryland. West Md 2d pf ... ‘Western Pactfic. Western Pac pf. . West Union (7). West Air Br (6). Westinghs (4).. Weston Elec. Weston A (2). .. Wheel & L Erie. Wheel & L & pf. White Eagle (2). White Mot (4).. White Rock (12) Wickwire ctfs. . Willys-Overld. . Willys-Od pt(7). wilson & Co pf ... Woolworth (3) Worthn Pump. . Wright Aero(1). Wrigley (13%). Yeliow C (2.52). Youngstown (4) *0dd lot. Dividend rates as given in the abave table the annual Davments hased on the fatest auarterly ‘8t half vearly declarations. 123 13% %) 15% 160 644% 20% 48 107 974 107 ut 5 15% 22 28% T4% 120% 122 2% 17% 26 19 424 264 89% 39% 216 18% 106 17 1654 3% 27 62 40% 2% 38 28 52'a aln 73 |Am Smit& R 6 | Chile Copper }U'S Rub 1stre5s.. Unless otherwise noted. extra or special divi- dends_are not included. a Paid this vear. no recular rate. b or optional in stock. ' *Partly stock. iPartly extra. 4Pavable in preferred stock. tPlus 5%"%n stock vavable 1% quarterly. €Plus 67 1 Sock pavable 1% guarierty. AGTIVITY GREATEST | Coxew vom BONIDS sroex sxcannee] | VALUE OF INCOME Received by Private Wire Direct to The Star Office. ED STATES. are in $1,000.) Lib3%s Lib 1st 4%s 102 Lib2d 414s. 144 101 Lib3d 4%s. 137 Lib4th 4%s 168 US4%s's2 39 FOREI . Sale Argentine 65759, .. 40 Argentine 6= A 17 Argentine 6sB..... 35 Argentine 7s. e S Aus govt 63’55 474 Austria7s........ %0 Bank of Japan 6s. Belgium 6s. ... Belgium 6% wi Belgium 7s wi. .. Belgium 738 Belgium 83 Rolivia 8s. Bordeaux 6s Brazil 7s Brazil ¥ Canada 58 1926. anada 55 1931 Canada s 1952 Canada 5165 1929 . Chile 7s 1943 ... Chile 851941 Chile 85 194 Chinese Gov Ry 5s. Christlania 8s. ... Con Pow Japan 7. Covenhagen 5. . Cuba 514s. .., . Czecho 85 1951. ... Czecho 85 1952 et.. Denmark 6s. Cenmark 83 Dutch Fast 1 65 Duteh Bast T 6s° ©1 Salvador 8s'48. Finland = f 65 " Finlands 7=, .. Framerican 7is French 7 French 71 French 85 = Ger E16%43'50 wi German Ts. . Ger Gen Elee 7 Greek 7s. .... Haiti 6s. .. Hungary 615 Japanese 43 Japanese 614 s . Jergens U M 6547 Marsetlle 6s e Mexico 45 '10 asntd Montevideo 7s Netherlands 6s "54. Netherlands s Norway 5%s wi. .. Norway 6s 1943 Norway 65 1944 Norway 6s 1952 Norway 8s Orient De: e (BT ©® rame=8xn Paris-Ly's Pegu §s. .. Poland 8s Pragte T43..... Queensiand 6s. . Queensland 7s.... .. Rio de Jan 85 1946. Rio de Jan 8s 1947, Rio Gr Do Sul 8s. .. Sao Paulc City 88, . Sao Paulo State 8s. Stof § Paulo rets. . Seine Dept ef 7s. .. Serbs Crot Sio 8s. . Sweden 5148 ct Sweden 6s. ... Swiss 5% 1946. . ToMsse: .. Ud Kingm 5% '23. . Ud Kingm 5348 '37. Zurich 8s. . 101 17 101 15 102 12 1 106 26 106 13 100 102 1 101 101 i5 102 10 106 13 100 30 z9 High. Low 95% 91 9614 MISCELLANEOUS. Am Agr Chem 55 Am Agr Chem 71 4 Am Sugref6s..... AmT&Tcltrds. . AmT&Teltrbs. . AmT&Tst5s AmT & T deb 5%s. Am Writ Paper 6s. Anaconda 1st s | Anaconda cv db 7a. Andes Cop 7srcts Armour & Co 414 Armour Del 5%s. Allantic Refin os. . Bell(Tel Pa bs. BetH Steel pm bs { Beth Steel 51p6 Beth Steel s f6s... Bkiyn Ed gen 5s... en Leth 6s 45 cfs Col Gas & El 5s. { Commonwth P 6s. . Con Coal Md 1st 5s. Con G NY 5% wi Consumers Pow b! Cuba Canecv d 83 | Cuban Am Sug Det Edison re? 6s | Lodge wi 6s. Dugquesne Light §s. Est Cuba Sug T1s. Empire G & F 734s. Fisk Rubber 8s.... Goodrich 6% g Goodrear 851931 Goodyear 85 1341. . Hershey 5l s wi Hershey 6s 1942 Humble O &R 5 I1lfnots Bell 1st 53. Indiana Steel &s. Int Mer Marine 6. . Int Paper 65°47. Int T&T6%s wi.. KCP&LL Kan G & Ei 65 KKelly-Spring 8s. .. Lackawa S 55 '50. . Lacl G ref 653 Laclede G 5148 52 Liggett & Myers s Loulsv G & E 58 '52 Manati Sug sf 73%s Mid-Con 63 '40 Midvale Steel 55 Montana Pow 58 YEdSs'44wl... ¥ Eden 15t 63s. Y G ELH&P 48, Y G E L H&P bs. Y Tel 4%s. . Y Tel 6s°41. Y Tel 65 '49. orth Am Ed 6s. .. Nor Ohio T & L 63. Nor States Pow 55. Nor States Pow 63. | North Am Ed 633s. Otis Steel TH#s. ... Pacific Gas & El 6s. PacT & T 58 '52. .. Pan-Amer Pete 63. Phila Co 5%s ‘38 Phila& RAC&15s Phila Coref 65 A.. Plerce-Arrow 8=. .. Public Service 6s. . Pub Serv Elec 6s. . Sinclair Ofl Sinclair Oil 63s. ... SInCOPL6s'2S.. Sin Pipe Line 5s. .. Skelly Ol 6%s. ... South Bell Tel 55. . So Por Rico Sug 7s. Southwest Bell 5s. Tenn Elec Pow Union Bag & P 6s.. United Drug 6s. U S Steel s £ 53 —t0 B R aRE— - Va-Car Ch T%s w. Warner Sug 7s '41. West Elea bs...... Westn Unlon 6%s. Westinghouse 7s.. Willys-Ov 6%5'33. Wilson & Co 1st 6s Youngstn S & T -« 5 11 6 6 RAILROAD. Ann Arbor 4s 1 Xtchison adj 4s 1 Atchison gen . 40 Atlantic CL7s 1 B&OGold4s..... 13 B&Ocvéls..... 20 B&O 1stbsct 20 B& O ret 55 Sa B&OS6s .139 B&Orf imp 6 3 B&O Sw Div 5scfs. 41 102% 102% 103% 10815 98 9T G 107% 107% 102:4 102% 9T% 974 101y 101% 96%° 964 102% 102% 547 544 1005 100t 10i% 101% 08 974 ¥9la 89 93 93 997 997 10214 1917 o2 g2 86 bk 94wl 1015 101% 1004 1004 107% 107 100% 100% 102 101% 83 82y 1057 1035 96% 96 95% 95% 105% 105% 104 103% 104% 104 1144 113% 104% 10415 110%% 1102 120% 120% 9815 98% 104 104 101% 101% 100% 1004 102 102 84 83U 81 90% 103 10218 99 9814 102% 102% 101% 101% 93 93 101 101 100 99% 2 101% 101% 96% 9614 100 100 98 97u 9115 9Ly 9% 994 100% 1003 113% 881y 103% 105% 97 106% 110t 1097 106% 1005 92U 924 961 96 105 105 103% 103% 10U% 1011 96!: 96% 973\ 974 105% 105 973 97% 100 997 105% 103% 105% 105% 9515 1057 109% 108% 101% 101% 1047 104% 100% 100 102% 10 6% 9 103% 103% 88% ¥81, 106% 106% 94% 94% 9% 99% ke 7 o1 i 101% 101 110% 110% 106% 106% 102 101% 99 984 997 99% 474 8315 834 89 88% 107% 107% 9% 87% 9 101% 101 90's 9045 102% 102% 102% 102% 96% 9% ! Sales. High. Low. Close | B & O Toledo 4s. 7 12 72 Tz | B & O PLEWV 4. 87 87 87 | Bkiyn Manha* 6s. . 80 895 894 | Buff R & Pitt 4%4s. 86% 86% sswi Canad North 8%s.. 7 117% 117% 117% Canad North 7s. . 115% 115% 115% Canad Pacdeb4s.. 12 80% 80% Car Clinch & O 6s.. 32 107% 107% |CentorGasys.... "1 10i% 101% Central Pacific 4s.. 10 87% Cent Pac 1st 55'90. 13 98 Ches&Ocv4t%s... 3 97% Ches&Ogn4%s.. 11 91t Ches&Ocv5s.... 49 113% Chi & Alton 3s. .. 64 Chi & Alton 3148 49 ChiB& Q 1strf5s. 102 CB& Q-1 div 4s, 904 Chi& E I gn bs. 7% Chi Great West 4s. 63% ©M & Puget Sd 4s. "M &StP4s'26. . 1 7 1 4 PP TP E g e R el - TP - Py ChiRI& Prfds Chi TH&SEbs Chi Un Sta 5s..... Chi & W Ind cn 4s CCC&StLbs..... CCC&StLrr6sA. Clev Term bs. ... Cleve Term 6% Colo & Sou 4%s. .. Cuba R R 55. Cuba RR7%s Del & Hd Ist rf 4s. Del Hud cv 58 35. . D & Rio G imp bs D & Rio G Wst b Det United 4155 Erfe 1st cons 4 rie gen 43 Erieconv 4s A Erte conv 4s B Erie conv 4s D. Fla EC 53'74. Fla W & N 7843 Grand Trunk 7s. .. Great North &8 Great North 5% Gr North gen 7s. .. Green B& W db B. Havana ERL&P 50 3 Hud & Man ref 5; Hud & Man aj 55 11l Central ref 4s Int Rap Tran bi Int Rap Tran 6s. Int Rap Tran7s. .. Int & G Nor 1st 6s. Towa Cent 1st 5 ity FtS 4s Lake Shore 4s 28, . Lake Shore 4s '31 Lehigh Valcn 4s. . Lehigh Val 53 2003 Louis & N uni 4s. .. 1 Louis & Nash 5%s. Market St Ry 78 M EIRy & L M&StListrfds M StP & SSM 6143, MK&T lst 4 - MK & T ad) o MK&TprinbsA. Mo Pacific gen 4s. . Mo Pacific 6 Mo Pacific = Montrl Tm 1st 5s. . 101 101 81 100% 108's 96% | 62 59 Y% 26% 7% 90% 1313 504 84 96 1064 101 9745 834 92% 101% 97% 110% 108% 33% NOT&Mb%sn. Y Cent 4838, NYCentribs... N Y Cent deb 6s. . . NY Chi& St L5%s ‘ew Hav deb 4. ew Havd 4s'57.. New Ha a6 X Y Rys 65 NY W & Bos 4%s. Norfolk & W cn 45. orfolk & W cv 65 orthern Pac 3s... orthern Pac 4s. .. Northern Pac 68 D. Northern Pacr | 6s Ore & Calif 1st6s. . Ore Short Lref4s 1 Ore-Wash 1st rf 4s’ Pennsyl gen 4133 . Pennsyl gen bs Pennsyl 58 '64. . Pennsyl 648 Pennsy) gold 7s. Peoria & E inc Pere Mrq 1st 4s 2: 105% 101 97% 8215 92% 1018 87% 1104 108% 33% 82% |although no catastrophe sufficient to TAXFACTS SCORED Business Experts Declare‘ Exemptions Help Hide | Much Vital Data. BY J. C. ROYLE. Special Dispatch to The Star NEW YORK. September 2.—Open- ing of the income tax hooks and pub lication of the amounts paid by indi- viduals and corporations has vielded no information of commercial or business importance. That was the consensus of opinion today of meni in widely separated walks of busi-| n endeavor. On the contrarysl these men asserted, the figures have provided a tremendous amount of misinformation and are not reliable as indicating either the trend of business in 1924 or the probable de- velopments in the remainder of this vear and 1926. Even men who would be glad to able information rivals admit they have been disap- pointed. They point out that mere knowledge of the sums paid as taxes, without knowledge of how they were arrived at. is of minor importance. The figuring out of an income tax return with every piece of data avail- able is a complicated job. To start from the result and work back to the data is almost an impossible one. Tax Exemptions Big Factor. | Investments in tax-exempt secur-| ities have complicated calculations immeasurably. Some corporations are known to have heen in possession on December 31, 1924, of tax-exempt Government securities to the amount | of several times their current liabil- | ties. Profit and loss surplus accounts are crowded to the limit with bond issues on which no tax is paid. Taxes have been liquidated by some cor- porations in the form of payments by subsidiary companies under a separate raturn Business men point out that so far as corporations are concerned. it is possible to gain much more detailed and authentic information from the formal anrual. semiannual or quar- terly reports of the company itself than from the tax figures and to do 50 earlier than the latter are available. Returns Very Confusing. As to individuals, the uncertainty of basing definite conclusions on the returns becomes at once apparent from the lists themselves. William Wriglev, chewing gum magnate. for exampie, pald a fax of $2.644, as against $836,565 the previous vear say frankly they| have certain reli- | regarding trade | cause such a difference is known to have occurred in his business activi ties. Few believe the $345 paid by Charlie Chaplin indicates the real in come of the movie star. Returns made by Will Rogers, Rudolph Val entino and other stage and screen celebrities are equally confusing. On the other hand. one manufacturer,| whose company in 1924 is known to have had one of its worst seasons. made a return of nearly $300.000. Oppose Idle Curiosity. Business men in numerous lines here were asked today why they ob- jected so vigorously to the publication of the income tax figures if their ri- vals could obtain so little valuable in formation from them. The attitude of the majority was voiced by a corpora- tion lawyer who declared he objected to this publicity for the same reason people hung curtains to their win- dows. “It may do a family no physical or | financial harm for them to have pass ersby staring at them through the windows,” he said. “They may be en- gaged in perfectly innocent activities. They may have nothing to hide, but the ‘normal self-respecting family is thoroughly uncomfortable under such scrutiny. They are entitled to a cer- tain amount of privacy and protection | against idle curiosity. The corpora.| tion or the individual in most instances 82% Pere Marq 1st 53 984 Por RL & P 6s'47. 99 Reading gen 4%s.. Reading J C 45 '51. RIATk&L 4%s.. St L IM&S 4s°29 St L IM&S R&G 48 StL&SFplésA.. StL&SF prln bs. 9814 29 941 91% 87 9% 86% 64 81 9913 92 98 e 90 1% 79 85'a 9% 97 85% 78 102% 105% 109% 55% 29 924 84% 994 104 103% o8% 964 101% 96 96 66% 94 9415 914 | 95% | 864 | % s14 99% | 2% ] 96% 1026 | 90% 14 W | 85 945 974 8515 78 102% 105% 108% 55% 39 92% 845 894 104 108% 98% 96 101 96 96% 6% 94 ORI YOS - 1~ PR PRl o + PO P RSP Zeos StLS W con 4532, Seabd A L ref 4s Seabd A L 4s sta. Seabd A L adj 68 Seabd A L con 6s. . Sou Pacific 45°29. . Sou Pacific clt 4s. Southern Ry gen 4 Southern Ry 1st bs. Southern Ry 68 ct. Southern Ry 6% Third Ave ret 4s Third Ave adj 58 Union Pac 1st 45 Union Pac 1st rf 4 Union Pac 4s ‘27 Un Pac 1st rf 53 Union Pac cv 6s. .. Virginia Ry 1st 63. Va Ry & P 1st5s. . Wabash 1st 65 Wabash 2d 6 Wabash 514 Western Md 4s. Western Pacific 55. 1 9 SR atenai b1 SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Adirond, P. & L. C. 6 Alima. Go: ‘of Amer. Amer. Beet Sugar 6s 1935 Am. Tel. & Tel. Co. 48 19 AMiconda ‘Copper 8s 1020 Associated 01l 6s 1935, Baltimore & Ohio 6s 1829 Belhlel‘zm; éleee\ 5-“193!%,29 Cantral of Georkia Os 1920, B AD & St P, ds 1038 2535335, e : S323RSEZISS Erie R. R. Co. Fetfernied Metals T. & SN R 1 6% Lehigh Pow. S. Penna, R, R. 78 1030. . Siaelair Cr. 0il P. C. Swift & Co, 5s 1932, ... Tidewater Oil 8%s 1931 Union Pac, R. R. Co. 4s 1! U. S. Rubber 7148 19 finghotse &M "Called at 106, tCalled at 101% A GERMAN BONDS AND STOCKS. 23825505555E253" Sox355 ! 23333332232558 SEBy 3583 st 15. 1925, feels entitled to just as much protec- tion against idle curiosity in financial affairs.” The advocates of the publication of | the figures, on the other hand, declare that the publicity given the returns made has acted as a check and safe- guard on fraud and has provided in formation to which the public is en. | titled. (Copyright. 1925 | DECIDED UPTURNS IN CORN MARKET | By the Associated Press. CHICAGO, September 2.—Fresh up- turns in price quickly developed in the corn market today with trading in corn more active at times than for all other grains put together. It was pointed out that in many sections the country is already feeding new corn owing to scarcity of old supplies. and that the profit in feeding hogs and cattle is the largest in recent vears With further comment that the hay | crop is short and that another heat wave is in prospect, the corn market attracted special notice from the start. | Corn opening prices, 3 lower to % | higher, December 83% to $3%, were | followed by decided gains all around, | December touching $43%. | Influenced by a setback in Liverpool quotations, the wheat market here underwent a sag despite the strength in corn. Starting % to 14 decline. | December 1.513%' to 1.5213 and May | 1.56% to 1.56'2., the wheat market | rallied somewhat, but then dropped lower than before. H Oats were steadied by corn. After | opening unchanged to ¥ off, Decem- ber 411, oats held near to the initial limits. Provisions rose with corn and as a | result of increased shipments of lard | to forestall the new German tariff. WHEAT. Open. i September December . .. Bty - OATS— September .. December Mav RYE— September December ARD— September October CUSTOMS COLLECTIONS LESS THAN LAST YEAR Special Dispatch to The Star. BALTIMORE, September 2.—Cus- FER ST 55 283 &f3 3E2 28 = fsis De» mal »ed I llion marks.) e | ¢ (w ¢ 5. ¥ fan o 123.00 iz 11 thousand maris s prewar 1600 X 8! 100 2 i. 1 1 3 Prussian Consols 3 Krupp 5s 1921 toms collections at Baltimore during July and August were $385.300 less than in the same period last year, according to figures furnished by Dr. Nelson A. Ryon, assistant collector of the port. Dr. Ryon attributed the decline to fewer cargoes of dutiable sugar ar- riving here than formerly. Only one such cargo was entered, the others be- ing free sugar from American insular possessions. Customs collections for August to- taled $863,449, as against $1,086.956 for the same month last vear. The | tuminous output total for July and August in 1925 was $1,590,564; for 1924 it was $1,975,865. s R R There are more than 400,000 col- lege students in the United States. INCREASED RATES | HELD IMPROBABLE National City Bank Cites Ab- sence of Inflation in Pre- se‘nting Views. BY CHAS. P. SHAEFFER. The general belief that Federal Re erve Bank rates will be advanced in he near future is not subscribed to by the National City Bank. in its cur rent monthly circular. which states |that “so long as there are no aens of inflation in community prices, the Reserve Bank rates probably will not be advanced. in view of the reduction made by the Bank of England, with which our reserve system is at present pledged to a degree of co-operation Tt is pointed out that a state of monetary ease exists over the country {partly the result of the liquidation of slow paper which” has been going on during the past vear. It is true thal all of these funds are employed in some way. and that a withdarwal of funds from the centers might quickly affect quotations, but the low discount rates now existing forbid the idea of any very tight situation _During the last month the Bank of England has reduced its discount rate from & to 415 per cent, and as the open market for bills is only about 3% per cent and the call markat 3'; per cent, there is some ot a further reduction, American banks have been emplo ing important sums in the London nlarket during the last vear, the statement continues. induced by high rates there than here. and last year by the prospects for profits by the rise of sterling exchange Now that sterling has reached par and interest rates have declined over there. it may be expected that these fund will be brought home as wanted hare and thus may be considered an addi tional supply. Bank’s New Home Opened Dedication of the handsome new twostory edifice .of brick and stons which will house the Silver Spring National Bank vesterday was attend ed by a reception lasting well into the evening. Located at Silver Spring. Md., the occasion was witnessed bs county officials, as well as important personages throughout the State The ‘bank first opened for business on October 10, 1910, with capital $25,000 and opening day deposits of $25.634.23. The institution has ex panded with the community it ser and now boasts capital stock of $100 000, surplus funds of $25.000 and re sources in excess of $500,000 Officers of the institution James H. Cissell. president: Fran Hewitt and Howard McC. AMarlo: Vice presidents; Ira C. Whitacre, cash. fer. and Fred L. Lutes, asiis cashier. . incl Railway Common Recovers. Comon stock of the Washington Railway and Electric recoverad 10 180 on sales of 150 shares on the Washington Stock Exchange- this morning. Opening slightly higher at 178, the issue gained steadily. on con sistent buying to its peak, but suffer ed a relapse of a point to 179 on the last sale of 10 shares. Holders were asking 182 as the session closed Riggs National Bank was strong at 380, a total of 16 shares changing hands. while Lanston Monotype ad vanced to 85 on selling involving 6° shares. This stock, however, could not hold fts day’s high, easing off to 84%. Capital Traction was strong a: 100%. as was Washington Gas at 63 Bonds were neglected. Fewer Failures in August Commercial failures in the United States in August. as reported by Dun’s today, numbered 1,513, the smallest month total in nearly a vear Liabilities involved, however, w larger, aggregating $37,158.861 compared with $34.505,191 in Julv. Coal Production Jumps. Rate of production of bituminou coal jumped to the high total of 11 100,000 net tons during the week end ed August 29, the Netfonal Coal A= sociation announced. This total com pared with 10,527,000 net tons for the previous weel, and with 10,260,000 for the week ended August 15 No doubt the chief factor contribu ting to the speeding up of bituminous production last week was the fn pending stoppage of work in the anthracite region last Monday, al- though some seasonal increase in bi to be expected at this time of the vear. The Bureau of Coal Economics further states that the rate of bitu-. minous coal production last week is well above 2,000,000 tons in excess of the present weekly rate of con sumption. The surplus going into consumers' stocks, therefore. is some. what greater than the weekly tonnage of anthracite normally produced at this time of the year. as Returns From Vacation. Winslow B. Van De Vanter of the local office of the Guaranty Com- pany of New York has returned from several weeks in Ontario. BALTIMORE PROFITS BY FLORIDA BOOM Steamship Lines Are Rushing Passengers and Goods to Southland. BALTIMORE. September 2.—The Florida boom, being viewed with alarm by some cities that have felt the withdrawal of capital, is working to advantage to Baltimore. For pas- sengers and more particularly for commodities, Baltimore is serving as the gateway to this land of promise. Long established retail firms in Florida are laying in several times as many goods as ever before. The thousand of new retailers openinz there are coming here to stock their houses. Rush orders are being re- celved by Baltimore manufacturers. The most convincing reports come from the shipping firms. The rall shipments from Baltimore to Florida are taking enormous jumps every month. The ship lines, however, give even better indication of this. The Merchants and Miners’ Trans portation Co., beginning September 15, will have three sailings a week for Jacksonville. The Baltimore-Carolina Steamship Co. has had decided in- creases in demands upon its weekl: service to Miami. The Bull Line re cently opened regular sailings from Baltimore to Tampa, carrving fuil cargoes. The passenger service of all lines is_feeling the rush. Whole families with their worldly possessions are ar. ranging for transportation, willing to take any kind of acommodations that will land them in the hoped for para- dise as promptly as possible. CRUDE OIL ADVA}WCED, DALLAS, Tex., September 2 (#). Increases ranging from 2 to 12 cents a barrel on Kansas and Oklahoma crude oil on grades from 39 to 44 gravity and above and decreases of from 2 to 14 cents a barrel on grades from 28 to 37.9 gravity have been announced by the Magnolia Petrolaum Co. here.