Evening Star Newspaper, September 23, 1925, Page 26

28 * WALL STREET LST FIRMER AT CLOSE Specialities Rally After Noon Weakness—Much Sell- ing Is Noted. BY STUART P. WEST. Epecial Diepatch to The Star { NEW YORK, September 28.— frhere were conflicting impulses again ©on the Stock Exchange tod intervals considerable activity sl m\eu in individual stocks, but it was not maintained. As the session went on selllng became once more Very no- ticeable. During the time early in the day when motor stocks were prominent Hupp sold at a new high and so did Btudebaker and Paige-Detreif. The last named was up more than 2 “points. Related to these movements \was that in Fisk Rubber, which -erossed 26 for the first time on large ‘transactions. Goodrich and United States Rubber, while the buying was ©on, were up a point to 13 points. " Tobaccos in Demand. ! Tobacco stocks were very much in The highest prices of the ‘season were paid for the Amerfan "Tobaccos, for Reynolds “B,” for the ‘Liggett and Myers stocks and Loril- dard. The last named was quite a feature, developing unusual activity | At an advance of 21 points. An-| nouncement was made that the re- ‘malnder of the outstanding stock of ‘Reynolds preferred was to be called ‘at 120 a share. This led to further idiscussion of the possibility of a stock \dividend. +" There were new high records in the IAtlantic. Gulf and West Indies i n Spicer Manufacturing, in Ki ‘ser and among the rails i !Coast Line and in Che d]k‘lk(‘ mul “Ohio. Texas Pacific La jumped 50 points and transactions in Commercial Investment Tru; cured lat a rise of nearly 8 points. Gas and Electric was the chief per. ‘former among the public utilities !while getting up over 2 points. This iwas the last day for trading in the ‘subscription rights and therefore the last chance for selling the stock ‘against subscription privileges. Railroad Shares Strong. Railway shares were strong awhtle, ‘but it was on sh in the pan; ‘B. & O. and Reading got yp over a ipoint each and the Erie stocks a point. \The buying did not last either in this igroup or in the Northwestern shares fwhich were equally Strong tempo- ‘demand Central having been * the idea of an 8 per cent dividend, there was plenty of this stock for sale 8t a point advance. If there was nothing particula vorable in the midweek re\'ke“‘ ‘the steel trade, there was certainly ‘Bothing to enthuse about. According to the Iron Age steel production is pveraging a little over 75 per cent. But this expanded output is disregard- fng the policy among consumers of keeping stocks of materials down. Consequently it is not leading to any improvement in prices, nor is there wny indication of improvement oc- Furing. MARKET CLOSES STEADY. . NEW YORK, September 23 (#).— The closing was steady. The market gained some of its early vigor in the | inal hour, when various specialties fallled, smartly. American Tobacco, Revnolds Tobacco B, Consolidated €igars, Childs, Fleischman and Postum temn were among the issues which ose to 3 points. Sales approxi-, maled 1,600,000, larkets at a Glance NEW YORK — Stocks Lhesapeake and Bonds fir irregular; Ohijo leads ri weak Goyernment Sugar firmer: improved spot | Coffee higher; bLullish crop | Cotton eport. demand. hdvices. s CHICAGO—Wheat lower: larger re. Peipts. Corn lowest of se good | weather. Cattle steady; shipping de- | mand Droutier Hgs fum: SE g FAMOUS OLD FIRMS . IN CHICAGO UNITE John V. Farwell Co. Bought by Department Store—Yearly Busineu, $25,000,000. By the Associated Pre i L CHICAGO, September 23.—Carson, ‘Pirie, Scott & Co.. one of the lars- t department stores in Chicago, nounced last night the purchase of the entire business and properties of | Jthe John V. Farwell Co., one of the ioldest and hest known wholesale dry ! goods concerns in_the country. i« The transfer becomes effective | L @ctober 10, and the new owners will % continue the business from the pres # ent Market street location. The whole- FINANCIAL. NEW YORK STOCK EXCHANG Received by Private Wire Direct to The Star Abitib) Pow (4). Ahumada (11).. Alr Reductn(15) . Afax Rubber.... Alaska Juneau. Allled Chem (4). Alils Chalm (8). Am Agricul Chm Am Ag Chm pf.. Am Beet Sug(4). Am Brk Shoe(6) Am CaraFay (8) AmC&Fpf (7). Am Chat a ain A (2). Am&FP 25% (7). Am & For Pow. . Am& F P pt (7). Am Hide & Lea.. Am Ice (8). Am Ice pf (6). Am Internatl Am La Fran (1). Am Linseed. ... Am Linsd pf 33% Am Loco (+18) Am Metal (3)... | Am Radtator (4) Am Safety R (3) Am Ship&Com Am S & Ref (6 Am Snuff (12 Am St] Fay. Am Stl Fy pf(7). Am Sugar Am Sugar pf (7) Am Te'&Tel (9). Am Tobacco (7). Am Toba B (T) Am WW&EI 1.20 Am W W 1st (7) Am Woolen Am Zine pf Anaconda (3). Ann Arbor. . Archer-Daniels. Armour De! (7). Armonr i1l A Arn Cons&Co Arnold Con etfs. Artloom (75e). Art Metal (1). Asso Dry G("%D Asso O1l (2). Atchison (7) At] Birm & At. Ati Coast L (18). AtIGuIf & W I. Atl Qult & WI pf Atlantic Refing. . Atlas Powdr (4). Atlas Tack...... Austin-Nichols. . Auto Knltter.... | Raldwin L (7). Balto & Ohlo(5). Bang & Ar (3). Barnet Leath Barnsdall A Rarnsdali B. Beech Nut(2.40) Belding Bros(3). Rethlehem Stl. . Rooth Fishertes. Booth Fish 1st.. 3kl Union G(4). ABrunswick-Balk Burns Bro (10). Burns Br B (2).. Bur Add Ma (3). Bush Terminal.. Butte Cop (50¢). Butte & suv (l) Butterick. s Cal mc.dng ™ Calif Pemt (2).. “al'ahan Zine. .. lumet & Ar (4} Calumet & H (1) Can Paclfic (10). Cent Leuther. .. Cent Leather pf. Century Rib (2). Cerro d Pasco(4) Certain-Teed (4) Chandler (3)... Chees&Ohlo (4). Ches&0 pf(6%). Chi & Alton pf.. Chi & East1il.... Chi Gr West pf. Chi Mil & StP. Chi Mil & StP p! C.Mi&StP pf cfs Chi & Nwn (4).. Chi Pneu T (5) ChiR1& Pac CRI&P pf (6). CRI&PpL (D). Chi Yellow C (4) Childs (32.40)... Chile Cop (2%). Chrysler Corpn. Chrysler pf A(8) Coca-Cola (7). Coca-Cola pf (1) Col Fue. & Iron. Col G&E (2.60). ColG&Epf (7). Col Carbon (4) Com Inv (2.50) Com In Tr pf(7 Congoleum (2) Conso! Cigar. Gen Cigar pf . Consol Distribut Consoi Gas (5).. Cont Can (4) Cont Insur (6) Cont Mot (80¢) Corn Prod (2). Coty, Inc (3.80).. Crex Carpet (4). Cructble Stl (4). Crucible pf (7).. Cuban Cane Su. . Cub Cane Su pf.. Cuban-Am S (2). Cudahy Pkg (7). Cuyamel Fr (4). Dantel Boone. ... i 8ale building of Carson, Pirfe, Scott 4& Co. is just across the street. The terms of sale were not an-| % fiounced, but the Farwell concern with stock upward of $5,000.000 has been | oing an annual business of about | . l's 000,000. The well company i Was established in 1852 and the Car- ..on Pirie, Scott & Co. enterprise was tarted in 1854 at La Salle, IlL, the rst day’s sales amounting to $28. WOUL MARKET STEADY. { BOSTON, September 23 (Speciall— * Firmness in forelzn wool markets has 1fot greatly stimulated the local mar- ‘ket in forelgn wools in general. Faff * gvelghts of Australian fine wools sold at $1.15, clean basis in bond, and Montevideo ones and twos are active. 3 Domestic fleece wools are picking up. “Ohio delaines sold at $1.30 to $1.32 I¢lean basis. Three-eights bloods wAre ‘At 50 cents, grease basis. Territorv » wools are firmly held. it PIG IRON ADVANCES. » NEW YORK, September 23 (#).— 14 further advance in the Iron Age eomposite price for pig iron brings to $19.54 against $19.46 last week i The gain since mid-vear has been 58 icents or 3 per cent. The finished !steel composite price stands at 2.39 icents per pound for the sixth suc- 3 ¢essive week. It i3 nearly 2 per cent wer than two months ago. OPERATES FLORIDA SERVIGE. PHILADELPHIA, September 23 fast freight teamship service from Philadelphla Miami was established this week. POULTRY UNSETTLED. CHICAGO, September 23 (P).— allve unsettled; receipts, 10 1s, 17a24; Springs, 23; roost- Davison Chem. { Del & Hud (9).. Del L & Wn (17) DRG Wstpf.. Detroit Ed (8). Detroit Ed Dodge Br Dodge pf (7) Dome Mines (2). Dupont (19).. . DuPont deb (6). Duquesne pt (7) Snstman (18)... Eaton Axle (2) Elec Powr & Lt. E P&L pf 40% pé EIP&Lpt (7).. Eiec Str Bat (4). Emmerson B pf. End John (5)... Endicott pt (7).. ErieRR .. Erle 18t pf.... Erte 2d pf. Famous P (8 Famous Pl fu pd Federal Lt *1.40. Fed L& T pf Federal Mine: Fed Min pf (1) First NatP pf(8) Fisher Body (6). Fisk Rubber.... Fisk R 1t pf (7) Flelschmann(15) Foundation (8). Fox Film A.7. Freeport-Texas. Gabriel A (2%). Gardner Motor. . Gen Am Tnk (3). Gen Asphalt.. (). Gen Baking (6). Sen Cigar (8). Gen Electric (8). Gen Wi spec 60~ Gen. Motors (+7) Gen Outdr Adv. Gen Outdr A(4 L turkeys, 20; ducks, 18a2l; eese, 15. Gus N RATES ON BAR SILVER | NEwW YORK September 23.—Bar sllver, 71%. Mexican dollars, 54%. ‘Goodrich Df("- . 187 . 186% 18516 Open. High. Low. Close. 67 Adams Exp (6).. 11 l‘c 112% 22% 22% 67% 67% 35% 85% % 3% 114 114 . 2371 238 119% 119V 1121 118% 1244 124% 23% 234 48 48 s 4% 187 1404 142 3815 834 1174 118 501 50% 1n Gsl- 65% T . 147% 14T% 424 112 66% 67Th oY 9TH% 139% 139% 1157 117% 1141 1164 56 994 “ 35% 36! l"2‘- 114 122‘¢ nm 2om |s. 0 7% 16 8% 59% 60 99 101% 50 50 1414 274 274 24 2% 121% 122% 27 83T 451 40% 40% 20% 21 16% 16% 7% 1% Briges MIz(3 %i 14 11% 20 129% 129% 26% 27 24 2% 50% 50% 148 14% 148% 150% 18% 18% 61 61% 32y 32% b3 b4 b3t 63% 384 39% 106% 108% 114 114 1% 1% 3y 39 25% 26 8% 8% 128% 264 50% 14% 148% 18% 6019 32 534 861 B6Y% o8 9 46% 46 64 B84 o4 ¥5% 164 165 106 106 140% 141% 100% 100% 395 39% Th T4 111% 111% 46% 46% 68 2% 40% 41% 88 88 5% 5% 91% 9245 76 6% 112% 112% 11 11 35% 36 52% 63 62% 62% 73% 8% 99% 99% 9% 9% 43% 43% 23% 23% 100 100 62 62 1% 1% 40% 41% 148 148 141 142 146% 141 451 139 4% 28% BTk 14% 185 101 112% 1074 10114 101% 13 13 107% 107% 109% 107% 27% 83% 20 68% + 102% 9% 2646 110 Gen Mot pf (7).. 11 | Goodyear pt (7). Granby Consol. . Grt North pf (5) Gt Nor Ore (1)... Grt Watn Su (8. Green Canan. Guantanamo Gulf Mo & N Guif States S (5) Hartman (23). . Havana Elec (8) Hayes Whi {315 Helm G W (3).. Hoe& Co A (4).. Household P (3 Houston Ol Howe Sound (3. Hudson Mr (2% Hudson Mot (3). Hupp Mot (1)... Tilinots Cen (7) Indep O11 (1). Indian Motorey . Indian Refining. Inland St (2%). Inspiration (2) Interub Rap T Internat Agri Int Bus Mac Int Cement (4).. In Cement pt(7). Int Com Enx (2) Internat Har (5) int Mer Mar pf.. Int Nickel (2) Int Paper. . Int Paper pf (6). Intl Paper pf (7) Int Shoe (5) Int Te! & Te! (ll Int Tel & Tel rts. Jones Bros Tea. Jordan Mot (3) Kan City Soutn. Kan C So pf (4). Kayser (Jultus). Kelly-Spring. ... Kelly-Spring 18t Kelly-Spring pt Kelsey Whi (6) seunecott (3) Keystone T & R Kresge Dept S. . Laclede Gas (8). Lee Tre & Rub. . Lehigh Val (33%) Liggett & M (14) Lig & My B (14) Lig & My pf (7). 3 Lorillard (3). Louisiana Oll. Louis Gas A 1.75 Louls & Nsh (6). Ludlum (2) McCro B (1.60). MclIntyre P (1). Mackay (7)..... Mackay pf (4).. Mack Trucks Mack T 1st (7). Mack Trks 1st pd Mack Trk 2d pf.. Macy HR & Co.. Magma Cop (3). Mallison & Co. .. Man El Sup(434) Man-Elev gtd. .. Man Emd ¢ (5). Manila E1 (214). Maracaibo Ofl.... Market Street. .. Market St prior. Market St pf.... Market St 2d pf. Martin-Parry(2) Mathieson Alka. Vay Dept St (6). Mexican Seabd. . Mtami Cop (1).. Minn & St Louts Min St P & SSM. M St P & SSM pt Mis Kan & Tex.. MK&TDp!(5).. Missouri Pacific. Missour! Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 7he Motor Met (3.60) Motor Wheel(2). Mullins Body. .. Murray B (£2.40) Nash Mot (116). Nat Acme (51a). Nat Biscuit (3 Nat Biscu pf(7). Nat Cloak (4) Nat Dalry (3)... Nat Dpt Stores. . at Distillers. .. N Y Air Br A (4) Y Canne: Y Central (7) NYC&StL (6) NY NH & Hart. N Y On&Wn (1). NY Rys pf tr cfs N Y Shipbld (2). Norfolk South. . Norf & West (7) North A (B3.40). rth Am pf (3) orth Pae (5) Norwaik (1.60). Nunnally (1). Onyx Hostery Orpheum ¢1.80). Otis Elev pf (6). Otis Steel. Otis Steel pf Owens Bot (3).. Pacific Gas (8).. Pac Coast 2d pf Paeific Ofl (3) Packard (1.7 Paige Mot(1.40). Pan-Amer (6)... Pan-Amer B (6). Park & Tilford. . Penick & Ford. . Penn C & Ck Pennsy R R (3). Penn Seab Steel. Peoples Gas (8). Pere Marq (4).. Phila& RC& I Phiilip Morris Phiilips Pet (2). Plerce-Agrow... Plerce-Arrow pf. Pierce O1l. . Plerce Petrol.. Pitts Coal pf (). Pitts Term Coal. Pitts Ter pf (6). Pitts Ut pf 11.20. Pitts & West Va. Porto Rico Tob Postum Cer (4). Pub Ser N.J.(5). Pullman Co (8). Punta Aleg Sug. Pure Oil (1%).. Radio Corpof A. Radio C pf (3%) Ry St Spe (8).. Ray Cons Cop... Reading (4) Reading rts. . Reading 1st (2). Reading 2d (2).. Retd Iem Cm(3) . Reld Ice Cr pf (7) Robt Rels & Co.. Remington Type Replogle Steel. . Rep Ir & Steel. .. Rep 1 &S pf (7). Reynolds Sprnga Rey Tob B (3).. sia Ins (6).. Hoyl D(al.78%). St Joseph Ld (2) StL & SanFr((7) StL San F pf(6). St’L Southwest. St L Swn pf (5). Savage Arms... Schuite Stor(§8) | Seaboard Alr L.. Seabd Alr L pf. Seagrave (1.20) Sears-Rebk (6). 624 | Shattuck-Aris. NG STAR, WASHINGTON, e Oven. High. 106% 104 Low. Close. Gu M & N pf (6).. 10: 198 108 55% sa% 34%e .u" 157 15% 157% 15% riand O (76¢) _ 474% 8% 1% 126% T4% 6654 42% 62 62 134% 136% 54% 54% 26 26n 60% 60% 49% 4935 156 1b6 13% 13% $7h 18% 39% 41 26% 59% 59% 491 49% 166 156 18% 18% 86 86% 184 184 39% 49% 42% 97% 90 58% 1% 66% 66% 108% 105% 46% 47 48% 49% 14% 14 214% 216 6 -6 ldlk l05‘1 46% 48 484 49% 149 141 214% 215 (3 6 -5 . 16% INRAILROAD LIENS Norfolk & Western Issue Shows Strength—Florida Western Improves. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, September 23.—Rail- way issues came more to the front in the bond market today. This was principally due to the expectation of favorable August earnings statements. As a matter of fact, it seemed ques- tionable whether these statements would come up to the highly optl- mistic predictions which have been made regarding them. Norfolk and Western convertible bonds and Chesapeake and Ohio con- vertibles were both active and higher during the time when thelr related stocks were going up. As the buying movement petered out in the railway stock list, interest fell away in bonds al Seaboard Alr Line adjustments vere up a half point. Further recov- y occurred in Florida Western and Northern 7s. Sugar Shares Active. American Sugar 6s were actively dealt in around 102, which meant no change in price. American Ice 7s, being convertible into the stock, nat- urally followed the course of the lat- ter. When the stock went down, be- cause the ingrease in the dividend to § mer cent Bad evidently been dis- ~eunted, the bonds wemt down, too. An Interesting feature was the much smaller transactions occurring in French government issues. This was taken to mean a disposition to relopment of the Frenci ons, which are ab More New Offeri Argentine issues we oversubscribed where they promised a yield of 6 per cent if held to maturity. Quota- tions in the market today were some- what lower, the price dropping be- low 96. New offerings today Included an is- sue of §1.500,000 Saenger Theater, Inc., first mortgage gold bonds, 614 per cent of series “A” priced at 99 and accrued interest. to yield over 6.60 per- cent. Also $2,500,000 Electric Power Corporation first mortgage 613 per cent gold bonds, series due 1950, ced at 37 and interest, to yield 7.68 per cent DIVIDEND RATE RAISED. NEW YORK September 23.—Con solidated Gas of Baltimore declared a dividend of 62'; cents on the com- mon stock for the last quarter this year, the previous rate having been 50 cents quarterly. This places lhe stock on a §; annual basi: dividend is payable January stock of record December 13. LEATHER EARNINGS UP. NEW YORK, September 23 (#).— Third quarter earnings of the Ohio Leather Co. are understood to be sufficient to cover first and second preferred dividend requirements with a balance for the common stocks. A payment on account of accumulated dividends on the second preferred is looked for next month. September earnings are reported to be running ahead of those in Augu quickly Shell Trans 2.16. 39% 3974 She.l Un (1.40).. 224 Shell Un pf (6).. 104 Stmmons Co (2). 52 Simms Pet (1) Sinclair Ofl.... 39% 22% 22 104 52 Spicer Mfg. . Spicer pf (2).... Std Gas & E1(3). Stand Mill (5) StOfl Calif (2).. StOIINJ (1)... StOINJ pf (7). Std Plate Glass. Sterling Prod(4) Stew-Warner(5) Stromberg (6).. Studebaker (4).. Studebak pf (7). Submarine Boat. Symington A, ‘Tenn Copper (1) Te: Co (3.... ‘Tex Gulf Sul (8). Tex & PacC &O. I'ex & Pacific. Tex Land Tr (8). *Tex Pac Ld Tr. Tide Water (1).. Timken R B (14) Tobac Prod (6).. Tob Prod A (7).. 1 I'ranscont Ofl... ‘Twin City pf ( Underwood (3).. Un Bag & Paper. Union O1l (1.30). ‘n P&cific (10).. Utd Alloy Steel. . Utd Clgar(a3%) United Drug (7). UtdDrug 1st3%. Utd Fruit (10).. U S Distributing e S Hoft (2).... &S Thd Alcohol. U S Realty (8).. U S Rubber..... U'S Rub 1st (8). U S Smelting(3) . USSmpt 3%). U S Steel (17)... U S Steelpf (7).. Universal Pipe.. Univer P pt (7). Utll PEL A (2).. Vanudium (2) vi Vivaudou. Wabash p! Waldorf (1%).. ward Baking Warner A (1% Warren Co (4) Weber (4) W PaPow pf(7). West Maryland. West Md 2d pf. Western Pacific. West Union (7). West Air Br (6). Westinghs (4).. Weston Elec Wheel & L Erk Wheel & L K pf. White Eagle (2). White Mot (4).. White Rock (12) Wickwire ctfs. Willys-Overld Willys-Od pf(7). Woolworth (3).. Worthn Pump. Wright Aero(1). Wrigley (13%). Yale & Towne... Yellow C (2.62). Youngstown (4). *0dd |o 63% 4% 8% kiven in the abo hait mm?.‘:‘ o200 or ‘eveciat 4 L g Pt auarrerly or erw o8 mchided dends Pnld lhm year. no ‘UNITED STA 3 AR Sales. High. Low. Lib3%s... Lib1st4%s 9 10131 Lib2d 4%s. 31 101 Lib3d 44s. 199 10115 Lib 4th 4340 213 10212 USds1944. 165 103 4 US4%s'52 11 10619 1 FOH!IGN €6 100 12 100 8 Argentine 5s. Argencine 63’69 Argentine 6s A. Argentine 6sB, Bank of Japan Belgium 6% s wi. Belglum 73 Beigium 8 Holivia 8s. Bordeaux 6s. Arasil 7s... Brazil 1% Nraz(l 8s. Canada 5s 192 ~anada 5 1931, “anada 6%s 1929 ~hile 75 1943. ... Chile 85 192 Chile 8s 1941, “hile 83 194/ Chinese Gov Ry 6s. Christlania 6s. DEI5%s Mch '8, DEI5%s Nov'58. Dutch East I 6s Duteh East I El Salvador Framerican 7% French 78 German 7 &erGen Eleo7s Greek 7s. Hait! 6 Hungary 638 Japanese 4s Japanese §%s. . Tergens U M 63°47. Lyons @s. Murseille 6s. Mexico 58 a: Netherlands 6 Nord ¢%s Norway %8s wi. Norway 65 1943 Norway 63 1944 Norway 6s 1952. Norway 8: Orlent Dev deb Paris-Ly's-Med 6. Paris-L| Paris Orleans [ Poland 6s '40 Poland 85 50 Prague T%s Queensland 7s..... Rfo de Jan 85 1946. Rio de Jan 85 1947. Rio Gr Do Sul & 8ao Paulc City 88 Sao Paulo State 8 St of S Paulo rcts. Seine Dept cf Serbs Crot Slo Solssons 6s Sweden 6%sct.. Swiss Confed Ud Kingm 6% ‘29. . Ud Kingm 6%8'37. U4 Steam Copen Zurich 8s. MISCELLANEOUS. Am Agr Chem 7%s 5 104 AmChainsf6s'33. 6 98% Am Repub deb 68 Am Smit & R 1st 63 AmT&Teoltrbs.. AmT&Tstbs.... 2 AmT & T deb 6%s. Am Water Wks b Anaconda 1st Anaconda cv Andes Cop 7srcts. Armour & Co 4% Armour Del 6%s. Bell Tel Pa bs. Lal au & El Col Gas & El Con Coal Md 1st bs. Con G NY 6%s wi. Consumers Pow 5e. - IS TP P PN Det Edison re Dodge wi és. Donner Steel 7s. Est Cuba Sug 7% Empire G & F TH%s Fisk Rubber Goodrich 6% Goodyear 8s 1931 Goodyear 88 1941. Hershey 5%s wi. Illinols Bell 1st §s. Indiana Steel §5. .. Int Mer lhrln. I 5 o Bouo « Liggett & My Liggett & MyT! Lorillard (P) bi Loutsv G & E 68’52 Manat! Sug 81 7%s. Midvale Steel 5 11d-Con 638 40 Montans Pow b New Eng Tel b 00 and NE-CavvarumtnmmsRereaNe Corartaan PacT&T 1stbs.. PucT & T 68°63. Phila Co 5%8 Phila Co ref 63 A, Phila& RAC&I Plerce-Arrow 8s. .. Prdducers & Rf 8s. s @ Bwo Vertientes Sug 7s.. ‘Warner Sug 78’33, Warne: Sug 78'41. West Elec bs . lu WH/ Close. 1008 10128 100 30 101 14 10211 103 4 ! D&Rio G Wat 5 1y | ducks, 20a24; D. C, WEDNESDAY, SEPTEMBER 23, 1925. INTEREST CENTERS | Coxrev o BONDS ecelved by Private Wire Dirsct to The Star Office. STOCK EXCHANGE l RAILROAD, luu High. Low. Close. | Bils Bdls B4l u RY o1 894 934 9l 101% 101% 102 1024 % Atchison adj Atchison gen Atiantic C L B & O Gold B&Ocviys B&O 8w Div bs ofs. B & O Toledo 4 Bklyn Manhat Buff R & Pitt 413s. Canad North 7s 115% 116% 80% 80% 101% 101% 97% 96% 67 93 9T% 9T 7 92 Sl 9ik 119 117% 119 89% 89% 89% 1024 102% 1024% T T4 T4 63l 68% 63% 9 49 & 49% 494 49% T9% ~79% T9% 49% 494 9% 49% 49% 49% 815 B84 BBY | 49% 49% 49% 495 494 49% 104% 104% 104% 97T% 9% 9T 107% 107% 1074 78 17% 7% 87% 87 87 93% 931 934 99% 99k 99% 102% 10215 102 $8% 98K 9BY% 98% 98 98 1027% 102% 102% 100% 100% 100% 106% wu% 1054 864 56’6 804, 906 90Y% 107% 107% 107% 84 4 B4 cma&oln rtEs. 10 Chi& E T gn 6 9 (‘hl Great Weat 43, © P T O N L T IRt I C&WIb%s CCC &St L ccc&su.ru-A Cuba RRSs.. Del & Ha (st rf 4s. Del Hud cv §8°35. . Den & Rio G cn S ShE2ueRulran~ 66 Erfe 1stcons 4s. . Erie gen 4s... irincony 4s A Erie conv 4s B Erie conv 4s D. Erie (Pa)eit tr 4s. Fla EC58'7¢. Fia W& N 7843 Gr Trunk sf db 6. Great North s Great North § Gr North gen 78 G Mob&N 5%sB°5 Hud & Man ref 6s 11 Central ref 4s. 111 C-C St L&NO 51 Int Rap Tran bs... Int Rap Tr bs stpd. Int Rap Tran 6s... Int Rap Tran7s. .. Int & G Nor 15t 63 Int & G Nor aj 6s.. Towa Cent rf 4s. Kan City Ft 8 KansasCity S 68 Lake Shore 45 °2 Lake Shore 45 °31. Lehigh Val 55 2003, Louts & Nash Manhat Ry cn 4 Market St Ry 7s. P & 185 181 107% 107% mm 94% 94 3 101% 101% lom 5110 109% 110 1024% 102% 102% © 106': 106'% 106'% 6% 61 61 101% 101% 101% BS7h 89% 89N 102% 102% 102% 90% 8y% 98 95’. 95% 95W 1024 102% 64% M\ 88% 8! 81 1014 1014 101% 1014 101 10! 974 97% 97w 96k 86% 96y 101 101 101 101% 101% 1011 86 84% 85 4% 941 9% 101% 101 101% 108'5 108% 108'4 87 95y 96'3 103% 103 1034 59% B9% 59% 93 e2u 93 294 28% 28% -~ e o @ v u-ua-w»—-—-n:_-xufioflm—c:uvh—onmooh‘\nw-—w—mfl'-fl——-‘mn—nuq»—h—‘m e anbi NOTex&M5sB NOT&MS5%s. NOT&Mb6%sn.. N Y Cent 45°9 N Y Cent deb 48 N YCentriés. N Y Cent deb 6 NY Chi& StL 5%a NYC&StLG6sA.. New Hav d 43°57.. New Havencd 6 N Y Rys 6s°65 NYW&Bos 4% Norfolk & W cn 4s. 9 T 60% 60% 50% B4l Bdle BaY 106% 106% 1063 101 101 101 97% 97% 97k 83 827 83 9815 981 984 93% 9316 93% 1024 102% 102% 93% 98 98 ) IS T $ T 105% K84 10815 Northern Pac Northern Pac r " Pennsy| bs "84 Pennsyl 6% Pennsyl gold Pere Mrq 1st 45 '36. Pere Marq 18t § Reading gen 4% Rio G W 1t 4s. Rio G West cl 4s. RIArk&L 4% St L IM&S ¢s°29... —o 102% 102‘% l0"¥ 82% 82% 82% 101% 1011 101% 1 8¢ 84 8 0% 85% 94% 9% 88% 8% Seabd A L con Sou Pacific 4s ‘29, Sou Pacific ref ds. Southern Ry gen Southern Ry 1st 111% 1104 111 86% 86l 86 845 844 B4 5% bBB% 41 41 99% 9915 9216 924 9214 2 10!« 1034 1034 9913 99 99 97 102 7% Virginia Ry 1st Va Ry & P 1st b Wabash 1st bs. 97 97 101% 101% 97 97 BALTIMORE, Md., September 23 (Special).—Live poultry—Young chick- ens, pound, 25a32; Leghorns, 23a28; Minorcas, 20a25; old hens, 18a30; old Leghorns, 18a20; old roosters, 17; pigeons, pair, 25a30; guinea fowl, each, 70a80. Eggs — Receipts, 983 cases; native l?‘i nearby firsts,dozen, offered at 37 238. Butter —Good to fancy creamery, pound, 45a60; prints, 50a52; ladles, 3%a 40; store packed, 37; dairy prints, 87a 39; process butter, 43a44; rolls, 37a39. SR N CALL MONEY LOWER. N T8% | M. 108% 108% 103% FINANCIAL., Price Reductions On Women’s Wear Announced Today By the Associated Press. NEW YORK, September 23— Price reductions varying from 10 to 30 cents a yard marked the opening today of the American Woolen Co.’s Spring lines of women's wear, showing products of 20 mills. Rayon and eilic effects were fea- tured. Bu)ln: of staple lines appeared to have been stimulated by the lower prices, officlals of the com- pany reported after the first hour’s business. The introduction of rayon and ellk effects for the first time at- tracted wide interest in the trade and early indications were that the response to this innovation would be satisfactory. FRUIT SHIPMENTS ABOVE YEAR AGO': Vegetables Also Rushed to Market Earlier—Price Level Higher Than in 1924. By the Associated Press. CHICAGO, September 23.—Fruits and vegetables are moving to mar- ket at the rate of more than 20, 000 carloads a week. fully a third in excess of the year-round average. Supplies during the next few weeks are likely to be the heaviest of the deason, according to a report issued today by the United States Bureau of Agriculture FEconomics. Top volume for most fruits and vegetables, the report says, will =oon be reached hecause they are matur- ing earl, Killing frost begun in the more northern districts and prices have been high enough to hurry the crops to market. Although prices are slanting down ward. the general level is stili above last season for potatoes, onions, can taloupes, peaches and cabbage. How ever, apples, pears, celery and sweet potatoes are as a rule a little lower, compared with a year nxfl $20,000,000 TOBACCO STOCK TO BE RETIRED R. J. Reynolds Co. Takes Action Aimed to Improve Busi- iness Management. By the Associated Press w ON-SALEM, N. C., Septem- Directors of R. J. Reynolds Tobacco Co. yvesterday decided to retire immediately 11 of the company’s out- standing preferred stock, in the amount of $20,000,000 at $120 per share as provided in the company's charter. The company will make payment on October 1, 1925, for all shares delivered at that time to its transter agent, the Equitable Trust Company of New York, although January 1, 1926, is named as the formal redemption date. President Bowman Gray said the action was taken in_ the Interest of more economical administration of the company's busines: CHICAGO GRAIN PRICES. By the Associated Press. CHICAGO, September —Active selling on the part of houses with Northwest connections turned wheat values downward early today. There was also considerable selling ascribed to European sources. Aggregate wheat production of 20 European coun- tries was reported as 1,282,000,000 bushels, against 1,015,000,000 bushels last year and 1,286,000,000 the pre- war average. Openin price, X to 3 cents lower, December, 14913 to 149%, and May, 1.52% to 1.53, were followed by & drop of 1.48% for De- cember and 1.515% for May. ! Corn and cats fell to new low pri i records for the season. Liquidating | sales of the September delivery of {corn were largely responsible. ~De- mand came only from nrevious sellers who were in a position to collect a profit. After opening at % to 113 cents down. December, §0% -to 8014 the corn market descended to 79%, De- cember. Oats started unchanged to 3 cent oft, December, 40%. Later all months showed a material setback. Higher quotations on hogs Steadied the provision market. EAT— Open. High. 14 1490 1.4 ki e il el b owad i STANDARD OIL WORKERS PAY HONOR TO BEDFORD EW YORK, September 23 (P).— Every activity of the Standard Ofl Co. of New Jersey in all parts of the world_was suspended for five min- utes, beginning at 2 o'clock this aft- ernoon, New York time, when funeral services:were held for the late Alfred C. Bedford. chairman of the com- pany’'s board of directors, who died Monday. Telegraphic and cable instructions were sent to all branches of the pro- ducing, manufacturing and market- ing divisions to observe this period out of respect to the late chairman. FOREIGN EXCHANGE. (Quotations turnished by W. B. Hibba & Co.) Nominal Selling checks don. poun: Contreal, dole NEW YOYRK, September 23 (#). Call money—Easier; high, 5; low, 4%; ruling rate, 5; closing bid, 4%; offered at 4%; last loan, 4%; call loans agalnst acceptances, 414. Time loans—Firmer; mixed collateral, 60-90 days, 434 4-6 months, 4%; prime mer- cantile paper, 4i. | Norfolk Road’s Net in 8 Months Up 100 Per Cent By the AuodMnd Preas. NEW YORK, Septembef 23— August surplus of the Norfolk and Western was « $2,969 873, against $1.452,395 for August, 19¢4, and for the eight months of 1925 jumped to $15 086,461, compared with $7,608,- 361 a year ago. Net operating in- come tor the eight moniis gained ‘more than $8,000,000, to §18,340,892. 296,000,600, penhagen, Cobftiania. crown Shetihim: crown. b $ B s gl S 2 ) b Sl ot m&‘gd;t' [ V_RR pEEEL g a"'*i:"“ 205288 20 (HIGH PRICES RULE IN LIGHT TRADING Railway Common Advances Half a Point—Other Financial Notes. BY CHAS. P. SHAEFFER. A small volume of trade was attend ed by stronger quotations on Washington Stock Exchange morning. Trading in railway stocks promi nently mentfoned in connection with probuble mergers, in which attention is naturally centered, was nesligible, common alone showing ac his security opened at 163 on a sale of 5 shares and picked up an other half point gain on the following and concluding sale of 10 shares. Rail preferred was unchanged, with Ha s bild and 861 asked, while Capital Traction was quoted at 99% bid and 99% asked. Riggs National Bank held to fts re cently established high level of 410 sales of 13 s] An analysis of thi institution’s position ith w York banks which similarly are leaders in their respectlve flelds would indicate the stock is not selling at an exorbi tant level Washington Gas Light Co. stock was quiet at 6312, but Mergenthaler Lino- type was strong at 18614, although the initial transaction, involving a single share, was made at 1877,. This issue is now selling ex dnhlu\d Bank Drive Successful. Efforts of the Minnesota Stato Banking Department in reducing the number of State hanks by bringinz about amalgamations and refusinc charters to ne institutions ac- complishin ts. In the last been more 1} inconsequenti institutions. tlons for cha by reason t cilities were not munities. Examiners of the department have been asked to report towns in which they thought mergers would be ad visable, with the result that a total of 333 banks were cited in this cate- gory. The banking department then addressed letters to these in suggesting mergers, and r far are reported as very encouraging nnesota is represented as be overhanked 1 R ths there have needed Soft Coal Mining Rushed. ng of bituminou "'\:fl continp a h v rate du e week end ed September 19, the P.'lu of Coal Economics announces. Total output for that week, estimated from pre- liminary data, is given at 11,000,000 net tons. This total is over 1.000.000 tons greater than that for the pre- vlous week, when production was cur- talled because of the Labor day holl- day. The report of the Bureau of Mines showed total outp k¢ the week ended September 5 £26,000 and for the week September 9,993,000 net lnns. Bank Now in New Home. The Fauquier National B of Warrenton, Va., moved into its hand some new h erected at rost of lay. A touch jocal 1 to the reception ten- dered last ht by ll.c presence of \\dhn J. Harrison an . H. Cox, as- ant cashiers tional Bank. Dividends Declared. Directors of the Unite¢ States Sav- ings Bank have declared the regular quarterly dividend of per cent, payable on September 3 holders of record September 20. Convention Call Issued. In a call to the m tend the annual conver American Bankers' Atlanti growth 000 to over niy is an ever ificance in American his year’s convention of at Atlantic City such an event. The American Ban ers’ Association was organized in 18 when there were about 3,000 banks i the country, with aggregate capital and surplus of $850,000,000 and de- posits below §2,000.000,000. Today there are about 30,000 banks, with capital funds of $7,000,000,000 and deposits above $50,000,000,000. Mors than 22,000 of these banks are mem- bers of your association ““The convention signalizing the half- ccentury mark will be made the occa- sion for reviewing the progress of banking and the services it has ren- dered the people of the United States. A practical token of this will be given the public in the form of a proposed educational foundation to maintaiy college scholarships in economics and to promote economic research. Bar ing serves itself best by serving o ers and the more economic-minded it helps our people to become the firmer will it build the foundations of its own prosperity. “Another great opportunity will pre sent itself at this convention for or- ganized banking to render significant public service. The present period is particularly opportune to support the administration in its economic pro. gram.” Slump in Revenue Freight. Loadings of revenue freight f week end of September 12 totaled 9 434 cars, a decrease of 127,512 unde the week previous, due to the Labor the day observance, the American Rail- way Association announced today. Coal loadings were placed at 157,357 cars, a decrease of 20,861 under the week before and 16.270 under the same week last year. Miscellaneous freight totaled 376,151, a drop of 48,909; mer chandise and less than carload lots, 238,035, a decrease of 30,957, and grain products, 44,690, a loss of 11,041, and live stock, 28,687, a drop of 3,525 cars. WIRE CONCERNS MERGE. NEW YORK, Septeraber 23 (#).— Merger of the Philips Wire Co. of Pawtucket, R. L, and the Safety In- sulated Wire and Cable Co., Bayonne, N. J., will take form tomorrow with a public offering of the stock of the consolidated companies, both of which are large manufacturers of wire and cable. The annual output of the Philips Co. is about $10,000,000. OIL COMPANIES UNITE. NEW YORK, September 23 (#).— Western Oil and Refining Co. has been .rganized to take over the West- ern Refining Co., the Henderson Pe- troleum Corporation and the De- lendricie oil well, producing and_re- fining properties in California. The companies have combined production of 3,500 barrels from 22 producing The West Refining sod Marketing Co., & #ibsidiacy. has been formed. with headguarter in Lon- don, to handie European markets, 'htnint split the radiator ,of an e that was being arivoi near S siand. recently.