Evening Star Newspaper, September 24, 1925, Page 30

FINANCIAL. NEW YORK STOCK EXCHAN Received by Private Wire Direct to: The Star SELLING IS HEAVY IN FINAL TRADING C. & 0. and Nickel Plate Are Sstrong Spot—Volume of ! Sales Enormous. BY STUART P. WEST. Specisl Dispatch to The Star. NBW YORK, September 24.—Prices fell gway sharply in the stock mar- ket foday following further unsuc- cessfhl efforts to revive speculative intergst on the buying side by putting up affew: selected stocks. The decline occurred without there being any change in outside conditions. It was simply the result of a top-heavy structure within the market itself. Motors Come Down. Before the rank and file in the Street were aware of the change such leaders as Studebaker, General Motors, Hupp and Plerce-Arrow were selling 2 to 3 points off from top fig- ures. Packard was offered down heavily on disappvintment over the dividend action. The stock previously paid 30 cents regular and 50 cents extra. Placing it on a regular 50-cent basis did not ac- cord with the expectations aroused by the recent advance. Hudson Motor was particularly sensitive, because in the recent trading it had gone up more than most of the others. Willys Overland and Jordan gave way easily, and so did the shares of motor truck companies. The sudden collapse in the shares of Briggs Manufacturing was a disagree- able surprise to many who had bought at the time the stock was brought out en the Stock Exchange. Tobacco Shares Strong. Tobacco shares were strong early, but ylelded later when the pressure against the rest of the list increased. American Tobacco issues, Reynolds B, Lorfllard and the two classes of Lig- gett & Myers stock all made new highs. The advance in Lorillard across 38 occurred despite the fact that this company has little participation in the cigarette business, which has been the big factor in expanding earnings of the tobacco compenies during the last two years. Oil Shares Quiet. Following Wednesday's sudden re- newal of activity in the ofl shares these stocks did little today. An in- teresting contribution to the trade data was the report of California Ofl recelved at Atlantic and Gulf ports in the week ended September 19. The daily average receipts in that week amounted to 85,000 barrels, as against 135,286 daily in the preceding week. This sharp reduction in the supplies of California oil probably had some- thing to do with the rise in the ofl shares Wednesday. Childs’ Stock at New Top. A new high for Childs Co.'s stock was an incident among the specialities. The recent upturn has coincided with virtually favorable reports preceding the company’s business. Sales in Au- gust were the largest in Childs’ his- tory. Moreover net income has in- creased correspondingly. United States Smelting has been un- usually active and strong recently in anticipation of favorable changes in the dividend policy. The stock now pays $3 annually, and it was rumored that the rate would be raised to $4 at the next meeting. United States Smelting s sald to be setting aside consistently a good sized amount for depreciation. MARKET CLOSES WEAK. Break in Grain Speeds in Stocks. NEW YORK, September 24 (#).— The closing was weak. Weakness of the grain market accentuated the selling of stocks in the late dealings, with many high-priced issues falling 5 to 11 points. Some of the Van Sweringen rails, however, were bought in anticipation of an early decision on the Nickel Plate merger. Chesapeake and Ohio and Nickel Plate both jumped more than 2 points, the former reaching a new high for the year at 110%. Flelsch- mann, with a 3-point advance, showed independent strength among the in- dustrials. Total sales approximated 2,000,000 shares. Markets at a Glance NEW YORK—Stocks weak; high- riced stocks break 5 to 11 points. nds firm; French issues rise on ng. Foreign exchanges sterling slightly lower. Cot- ton lower; Southern selling. Sugar barely steady: increased spot offer- lkn{. Coffee easy: lower Brazil mar- e CHICAGO—Wheat weak: competition. Corn lower; large de- liveries. Cattle strong; shipping de- mand good. Hogx firm and active. Up Selling foreign CRUDE OIL OUTPUT IN SLIGHT DECREASE NEW YORK, September 24 (P).— Daily average gross crude ofl produc- tion in the United States decreased 1,450 barrels for the week ended Sep- tember 19, totaling 2,131,600 barrels, ocording to the weekly summary of the American Petroleum Institute. The dally average production of Smackover, Ark., heavy oil fleld in- creased 900 barrels. The daily aver- age production in the United States, excluding 8mackover heavy, decreased 2,850 barrels. The dally average pro- duction east of California was 1,470,- 600 barrels, an increase of 7,050. FRUIT SHIPMENTS FAR AHEAD OF LAST YEAR Special Dispatch to The Star. SAN FRANCISCO, September 24.— Shipments of delicious fruit from Cali- fornia so far this year are approxi- mately 1,000 carloads above those of 1924 at this time. Heavy grape ship- ments now are adding to the total. ATLANTA, Ga., September 24.—The Georgia apple crop will be lessened by drought in the northern part of the State. YAKIMA, Wash.., September 24.— Advances of 15 to 35 cents a box are quoted on Jonathan and Deliclous ap- ples in this part of the State. CHICAGO CASH GB.AIN CHICAGO, September 24 (). Wheat, No. 2 red, 1.6615a1.68: No. hard, 1.491 Corn, No, 2 mixed, 83‘4 a84; No. 2 vellow, 83%4a84ls. Oats, No. 2 white, 3815a40; No. 3 white, 38 a39. Ryne, none. Barley, 55a75. Timothy seed, 7.00a8.10. Clover seed, 19.25a27.00. COPPER MARKET 3ULL. NEW YORK, September 24 (#).— Copper dull; electrolytic, spot and fu- tures, 143%al4%. Tin eas: nearby, 58.87; futures, 5 Abitibi Pow (4). Adzms Exp (6).. Ad Rumley pf(3) Ahumada (t1).. Alr Reductn (1) Ajax Rubber. ... Alaska Juneau Allted Chem (4). Allled Cm pf(1). Allfs Chalm (6). Am Agricul Chm Am Ag Chm pt.. Am Beet Sug(4). Am Bosch. Am Brk smmn) Am Can (17). Am Can pf (7)., Am CaraFdy © C&Fpz (7). Am Chain A (2). Am Chicle...... Am Chicle ctfs. Am Drug. Am Express ( Am & For Pow. Am&F Ppt (7). Am Hide & Lea. . Am Hide & L pf. Am Ice (8). Am Ice pf (6)... Am Internatl. .. Am La Fran (1). Am LaFra pt(7) Linseed. . Am Linsd pf 3% Am Loca (+18). Am Metal (3) Am Radlator (4) Am Republic. Am Tel&Ca (5) Am Tel&Tel (9). Am Tobacco (7). Am Typ Fdrs(8) Am WW&EI Am Woolen Am Wool pt (7). Am Writ Pap pf. Am Zinc, steady; prices unchanged. Lead steady: spot, 9.50. Zinc firm: East St. Louis, spot and futures, ~7.90. Antimony, spot, 17.12a17.37. Archer-Daniels. Armour 111 A(2). Arn Cons&Co. . Arnold Con ctfs. Art Metal (1). Asso Dry G(2%) Ass0 01l (2).... Atchison (7).... Atl Birm & At. Atl Coast L (18). AtIGuit& WI.. Atl Gult & WI pt Atlantic Refing. Atlan Ref pf(7). Atlas Powdr (4). Atlas Tack. Austin-Nichol Austin Nic pf(7) Baldwin L (7).. Balto & Ohto(5). Bal & Oh pf (4). Bang & Ar (3).. Bang & Ar pf(7). Barnet Leather. Barnet L pf (7) Beech Nut(2.40). Belding Bros(3). Bethlehem St1 Beth Btl pf (8). Booth Fisherles. Booth Fish 1st.. Botany A (4)... Briggs Mg(3%) Bkl Edison (8).. Bki-Man Tran. . Bkl Unfon G(4). Brown Shoe (4). Brunswick-Balk. Brunswick Ter. . Buras Bro (10). Burns Br B (2). Burns Br pt (7). Bur Add Ma (3). Butte Cop (500). Butte & Sup (1). Caddo Central Cal Packing (8). Calif Pemt (2).. Callahan Zinc. .. Calumet & Ar (4) Can Pacific (10). Case Threshing. Case Thresh pf.. Cent Leather-... Cent Leather pf. Cen RRofNJ t12. Century R pt(7). Cerro d Pasco(4) Certain-Teed (4) Chandler (3).... Chees&Ohio (4). Ches&O pf(6%). Chi & Alton. . Chl & Alton pf. Chl Great West. Chi Gr West pf. . Chi Mil & StP... Chi Mil & StP pf. Chi & Nwn (4).. ChiPneuT (5).. ChiRI& Pac... CRI&Ppf (6). CRI&PpL (D). Chi Yellow C (4) Childs (32.40)... Chile Cop (23%)- Chrysler Corpn. Chrysler pf A(8) CCC&StL (5). Coca-Cola (7). Col Fuel & Iron. Colo Southern Col G & E (2.60). Col Carbon (4).. Commerclal Cred Com Cred pt (8). Com Inv (2.50).. Com In Tr p£(7). Com Solv A (4). | Com Solv B. Congoleum (2).. Consal Cigar.... Consol Distribut Consol Gas (5).. Consol Textile Cont Can (4).... Cont Insur (6).. Cont Mot (80c).. Corn Prod (2)... Coty, Inc (3.80. Crucibie Stl (4). Crucible pf (7). Cuban Cane Su. . Cub Cane Su pf.. Cuban Domin. .. Cuban-Am 8 (2). Cudahy Pkg (7). Cushman’s (8).. Daniel Boone. ... Del L & Wn (17) DRG Wstpt... Detroit Ed (8).. Detroit Ed rts. .. Dodge Bros Cl A Dodge pf (7).... Dome Mines (2). Doug Pectin (1). Dupont (19).... DuPont deb (6) . Duquesne pf (7) ®astman (18)... Eaton Axle (2).. Elec Powr & Lt. E P&L full pd (7 E P&L pf 40% p¢ EIP&LpL(7).. Blec Str Bat (4). Elk Horn pf. End John (§)... ErleRR . . Erie 1st pt. . Fairbks (2.60).. Famous P1 (8).: Famous Pl fu pd. Famous pf (8). . Federal Lt *1.40. Fed L& T pf (6) Federal Mines. .. Fed Min pf (7).. Fid Phoenix (6) . Fisher Body (b). Fisk Rubber.... Fisk R 1st pf (7) Flelschmann(t5; Foundation (8). Fox FilmA..... Freeport-Texas. Gabriel A (2%). 6). 137 504 . 117 . 142 — Open. Hieh. 674 674 94 98 9% 504 10 10 llO'l lllk ¥ 101% 101% 118% 119% 884 884 21% 21% 67% 35 364 115 235 238Y 119 119 110 110% 1244 124% 28% 23% 46% 46% 46% 464 A% 4% 187 50% 92 92 10% 10% 63% 634 . Il7’i 18 8445 374 13% 96 87% 82% 82% 117% 117% 50% 50% 109% 109% 5% 69 654 684 111% 1113 42 42 66% 66% 9% 10 41 41 139% 139% 118 118% 117% 106% 106% 119% 119% 55 4084 8844 2 T% 128% lZSh lDSh lsss. 3% 74 59% 60% 100 100 116 116 120% 1208 8314 83% 100 W 5% % 125 126 108% 110% 115 116 % % 1% 11% u% 1% 25% 25% 8% 9% 16 16% 681 68% 1 us 26 35 161% 162% 106 106 162 152 142% 38% 39 66% 664 76% 7% 466 464 40 40 25% 25% 73 75 104 104 101% 101% 97U 9% 21% 21% 41% 41% o4 ux% 118% 10% 11 35% 35% 58% 64 3% 73% 99 99 9% 9% 43% 43% 3% 3% 23% 23% 100 100% 79 79 1% 185% 185% 101% 101% 112% 112% 107% 107% 26 204 32 32 107 107 106% 107 9184 91% 118% 120% 133% 133% 70% 70% 16% 16% 34K 84n Low. Closs. 674 67K 10 108% 10% 1% 1% 100 100 ll9‘i Hfl- 2“1 21!1 67T% 6TH 3 85 35% 85% 114 114 108 10% 227% 280%°) 118% 118% 108y, 110 1244 1244 234 234 4% 46% 45 45 A% 4% 137 187 484 49% 9% 91% 10% 10% 63% GSh 50 109 109% b5% 69 84k 644 110% 110% 1% 42 115% 116% 114% 115 106% 106% 119% 119% 40 i 122% 122% 5% 6 196% 196% 2% 74 59% 60% 100 100 116 - 116 50 50 13% 18% 27" 2 93 98 118% 119% 82% 834 65% 66 45 46% 95 95 40 40 100 20% 204 16% 16% 89% 394 70 0% 384% 384 40% 40% 114% 114% 80 9% 9w 924U 92% 6% 10% 10% kL 26\6 2;% 50% 50% 148% 150% 4 36% 387 107% 109% 15 115 % 6% 1% 1% 1% 11% 24% 24% 111 48 86 86 99 99 46% 46% 66% 664 34% 34% 1598% 161% 105 106 162 152 147% 141% 8% 39 664 664 76% - TT% 46% 46% 38% 394 265 26% 73 75 104 99 97U 9% 20% 214 40% Am 12% 48 145% 145% 139% 142 448 A% 189 141% N 4 180% 101% 101% 1124% 112% 107 107 24% 24% 31% 311 107 107 106% 107 1% 91% 66 66% 25 25 6814 68% 31 314 405 40% 45 45 107 | Gardner Motor, Gen Asphait. Gen Baking Sen Cigar ( Gen Cigar pf (7) Gen Electric (8) . Gen Fl spec 60~ Gen. Motors ( Gen Mot pf (6) Gen Mot pf (i) Gen Outdr Adv Gen Outdr A(4). Gen Petrm (3) Gen Ry Sig t74%. GQimbel Bros. . Ginter (1%4).. Glidden Co Gold Dust. Goodrich Ru (4). Goodrich pf u) Goodyear pf (7). Gould Coup A. Granby Consol. . Grt North pf (5) Gt Nor Ore (1).. Grt Wstn Su ($) Green Canan. Guantanamo. Gulf Mo & Nor GuM& N pf (6). Guif States S (5) Hartman (2%).. Havana Elec (6) Hayes Whi 31 HelmG W (3).. Hoe & Co A (4).. Household P (3) Houston 011 Howe Sound (2 Hudson Mn ( Hud Man pt (5). Hudson Mot (3). Hupp Mot (1).. Indep Ol (1)... Ind Motrey (50c) Indiun Refining. Inspiration (2).. Interub Rap Tr Internat Agri. Int Bus Mac (8) Int Cement (4) In Cement p£(7). Int Com Eng (2) Internat Har (5) Int Mer Mar pf. Int Nickel (2). Int Ry Cent Am. Int Shoe (5).... Int Tel & Tel (6) Int Tel & Tol rts Intertype (11%) Jones Bros Tea. . Jones & Lau (7). Jordan Mot (3) Kan City South. Kayser (Jullus). Kayser (J) pf(8) Kelly-Spring Kelly-Spring pf. Kelsey Whi (6). Kennecott (3)... Keystone T& R Laclede Gas (8). Lee Tre & Rub. . Lehigh Val (3%) Liggett & M (14) Lig & My B (14). Lima Loco (4). Loews Inc (2).. Long Bell A (4). Lortllard (3). Louistana Ol1 Lotis Gas A 1 Louis & Nsh (l) Ludium (2) McCro B (1.60).. Mack Trucks (6) Mack T 1st (7). Mack Trk 2d pf. Macy HR & Co. . Magma Cop (3). Mallison & Co Manati (5). Man El Sup(4%) Man-Elev gtd. .. ManEmd g (5). Man Shirt (1%). Manila El (2%). Maracaibo Otl. Market Street Market St prior. Market St pf. . Marland O (750) Martin-Parry(2) Mathleson Alka. May Dept 8t (5). Metro G pf(1.89) Mtami Cop (1).. Mid-Continent. . Mid St Pr pf 110. Minn & St Louls. Min St P & SSM. M St P & SSM pf Mis Kan & Tex. . Mo, K & T pf (3) Missourt Pacific. Missouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3)... Mother Lode 7fc Motor Met (3.80) Motor Wheel(2). Murray B (12.40) Nat Acme (sta) Nat Biscult (3) Nat Cloak (4) Nat Dairy (3)... Nat Dpt Stores. . Nat Distillers. Nat Distiliers pf Nat Enamel & 8. Nat Lead (8). NY Alr Brake(2) NY Alr BrA (4) N ¥ Dock. N Y. Canners (2) N Y Central (7). NYC&StL (8) NYC&StLpL(8). NY N H& Hart. N Y On&Wn (1). N Y Shipbld (2). Norfolk South. . Norf & West (1) Norf & W pt (4). North A (B3.40). North Am pf (3) North Pac (5)... Norwaik (1.60) Nunnally (1). Ontario Mining. Onyx Hostery.. ... Onyx Hos pf (7). Oppenheim (3).. Orpheum (1.80). Orpheum pf (8). Otis Elevator (8) Otis Steel, . Otls Steel pf.... Owens Bot (3).. Pacific Gas (8). Pacific Oil (3). Packard (11.70). 0 Mot (1.40). Pan-Amer (6) Pan-Amer B (6). Park & Tilford. . Pathe Exch A Penick & Ford. . Pennsy RR (3). Penn Seab Steel. Peoples Gas (8). Peoria & East Pere Marq (4).. Phla Co (4)..... | Phla Co pt (3). Phila& RC&I. Phillip Morris. Phillips Pet (3). | Phoenix Hosiery { Plerce-Arrow. .. Plerce-Arrow pf. Plerce OLl. . Pierce Petrol. . Pitts Term Coal. Pitts Ut pf 11.20 Pitts Ucfs 11.20. Pitts & West Va. 15 | Postum Cer (4). 131% 1321 69% 69% 16 16 3% 33% Press Steel Car. Prod & Refiners. Pub Ser N.J.(5). Pub S NJ pf (7). Pullman Co (8) . Punta Aleg Sug. Pure Ol (1% .. Pure Oli pf (8).. Radio Corpof A. Ry St1 Spg (8).. Ray Cons Cop... Goodyr pr pf (8). Thdlan Refg ctfs. Kresge Dept S... Pub Se E&G pf 6. Open. High. Leu Close. 10% 10% tar Office loK 945 40% 884 1% 5% 1534 18% GE | INTEREST CENTERS IN FOREIGN BONDS Lead Domestic Rails. Prices Are Steady. BY GEORGE T. HUGHES. Special Dispatch to The S NEW YORK. September 24.—Large- {1y increased trading in French gov- ernment 7s, representing the latest of the dollar loans, was a feature in the bond market today. These bonds had left off Wednesday at 92%. They were actively bought today up to 94. This buying was associated with optimistic expectations of the negotiations at Washington. French 8s were un- changed at 105 and so were French municipal bonds around 89 and Nord Railway 63s at 85%. Kelly 8s Advance. Belgian 8s were fractionally higher while the 715 were down a bit. There were large dealings in the Argentine 6s, with the old bonds most of the time around 95% and the newly is. sued series quoted at the offered price of 9615, German Land Bank 7s con- tinued moderately active around 94, A remarkable advance occurred in Kelly Springfield 8. They had closed the day before at 105% and, suddenly beginning to shoot up, they reached 109. The Street was inclined to ex- plain this advance as a run-in of a short interest. New Issue Oversubscribed. United States Rubber 5s slipped off to 89% after having sold earlier in the week above 90. Empire Fuel 78 were also a shade lower. Convertible bonds, like the Chesapeake, which had participated Wednesday in the upward movement in their correspond- ing stocks, were quick to feel the change for the worst in the specula- tive market. Included among new offerings today was $2,000,000 issue of Larutan Fuel Co. first mortgage 7 per cent gold bonds priced at 100 and accrued inter- est to yield 7 per cent. The bankers announced that it had been oversub- scribed and the books closed. Another was a $2,500,000 issue of Real Silk Hoslery Mills, Inc., 7 per cent cumu- lative preferred stock offered at $100 a share and accrued dividend. TRACTION EAB.NIN GS UP. NEW YORK, September 24 (#).— American Light and Traction had a balance of $5.853,948 for the year end. ed August 31, after preferred divi. dends, in contrast to $3,584,311 the year before. Net earnings for August jump- ed to §$513,023, compared with $382,- 895 in August. 1924, F6% 18% 404 5015 Reading (4). Reading rts. .. .. Reading 2d (2).. Ieid Iem Cm(3). Reld Ice Cr pf (7] 95% Robt Reis 1st pf. 83 Remington Tvpe &8 Replogle Steel 16% Rep Ir & Stee! 50 Reynolds Sprags Rey Tob B (3).. Royl D(a1.73%). St Joseph Ld (2) StL & SanFr((7 StL San F pf($). St L Southwest StLSwnpf (5). Savage Arms 10% 9243 50 12‘. 90‘. Sears-Rebk (8). 212 Shattuck-Ariz... 6 Shattuck F.G(2) 76 Shell Un (1.40).. 2214 Shell Un pf (6).. 104% Stmmons Co (2). 51% Simms Pet (1).. 204 Sinclair Ofl..... 18% Skelly Oil.... 26% Sioss-Sheff (6).. 98ly South Port 8 (6) 81 South Pac (8)... 98% Southern Ry (5). 107% South Ry pf (5). 93 Spicer Mfg..... Std Gas & EI(3). Std G&E! pf (4). Stand 11l (5).. StOtl Calif (2) StONNJ (1) St Ol N J pf . Std Plate Glass. Sterling Prod(4) | Stew-Warner (5) Stromberg (8).. { Studebaker (4).. Submarine Boat. Sweets (uew). Symington. Symington A(2). Tean Copper (1) TexasCo (3).... Tex Gulf Sul (8). Tex & PacC & O. Tex & Pacific. . Tide Water (1).. Timken R B (14) ‘Tobac Prod (8).. Tob Prod A (7).. Transcont Oll. Underwood (3).. Un Bag & Paper. Union 011 (1.30) . i’n Pacific (10).. Un Pacific pf (4) Un Tank Car(5) Utd Alloy Steel. | Utd Clgar(a3%) United Drug (7) UtdDrug 1st 3%. Utd Fruit (10).. U S Distributing LS Hoft (2).... U S Ind Alcohol. U S Realty (8) U S Rub 1st (8). U S Smelting(2) Univer P pf (7). Utll PEL A (2).. Vanudium (2)... Va-Caro Chem. Va Caro Chem B. Va-Caro Ch pf. Vivaudou....... Wabash........ Wabash pf A (5) Waldorf (1%).. Ward Baking B. Warner A (1%). warren Co (4) Weber (4) . West Pen (4) West Maryland. West Md 2d pf.. Western Pacific. . West Union (7). West Afr Br (6). Westinghs (4) Weston Elec. Wheel & L Erl Wheel & L K pf. i White Mot (4).. White Eagle (2). White Rock (12) Wickwire ctfs. Willys-Overld. Wiliys-Od pt(7). ‘Wilson Co ctfs ‘Wilson & Co pf. Woolworth (3).. Worthn Pump. wright Aero(1). Wrigley (13%). Yellow C (2.53). 43 Youngstown (4) 6% *04d iot. Dividend rlhl as given in above le P gy : £ ot %‘E a Paid thie vear. flo regular fate. nnuonu in "‘mn‘ ex Fariie in orelen ‘ {2 siock vasadle 1% auarieniy. Seaboard 5s and C. & 0. 5s; C., THURSDAY, SEPTE CMBER 24, 1925 @ONDS STOCK EXCHANGE l Received by Private Wi UNITED STATES. (Bales are In $1,000.) les. Hish. Low. Close. ¥ 100 11 100 6 1006 8 102 101 28 10128 18 10031 10030 10030 * 238 101 15 IDI 13 10113 Lib 4th 434 22 1026 USds1944. 11 1081 102 27 10227 US4%a'52 8 10620 10613 FOREIGN. Sales. High. Low. Christiania Christianta 981..... Czecho 88 1952 ot. Denmark 6 Denmaik 8; DEI5%s Nov'u. Datch Eust I 68° Dutch East I c-'fl Finlands 7s. ... Framerican 7%, Holland Amer §3.. Hungary 63¢s... Japanese 4 Japanese § u Netheriands Nord 6% Norway 5%s wi Norway 65 1943 Norway 6s 1944 Norway 6s 1952 | Paris Orleans 7s. Poland 85 '50 wi. Prague 74%s. Rio de Jln 3! Serbs Crot Sio 8 Sweden 5 Bsct. ed h Swiss Confed Ud Kingm 5% Ud Kingm 5% . Ud Steam Copen 63 Zuzich 8s MISCELLANEOUS. Am AgrChembs.. 4 102% 10:% |’Am Agr Chem 7%s 12 104 1034 Am Repubdeb 6s.. 15 974 97 AmSmit& R 1st 58 19 Am Sug ref 68 AmT&Teltr lAmT&Tecltrbm AmT&Tst5s Anaconda 1st Anaconda cv di { Andes Cop 7src Armour & Co 4% Armour Del 5 Assoclated Ofl 6= Bell Tel Pa 58 | Beth Steel pm Beth Steel rf 5s. . .. h Steel 545 '53 Beth Steel s £ Brier H St 1st 535 Cen Leth 6s 05 cts Chile Copper 6s. . . Con Coal Md 1st bs. Con G NY 5%s wi. Consumers Pow b Cuba Canecvd | Duquesne Light 6. Est Cuba Sug T%s. Empire G & F 7141 Goodrich 6%8. . Goodyear 88 1931. Goodyear 8s 1941 Hershey 5%s wi Hoe & Co 6% s HumbleO& R Iilinots Bell 18t 5 Int Mer Marine bc. Int Paper 5847 Inter Paper és IntT&T5%s wi KCP&LtSsA’S? Kan G & El 6862 Kelly-Spring 8s. Lacl G ref 6a 34 Laciede G 5% 52, Lorillard (P) 78 Loulsv G & E 58 '62 Mana*i Sug st T%8 Mid-Con 635 °40. .. Midvale Steel 53 Montana Pow 68 Mor's & Co 18t 4% New Eng Tel 58 9 3 - Bumed auabreronrEollc-Goarm ® Nor Ohto T & L Nor States Pow Nor States Pow Otis Steel 75%35. Pactfic Gas & El & PacT&T lstbs PucT & T 68°52 Pan-Amer Pete s Pierce-Arrow Public Service 6 Pub Serv Elec 6s.. Sharon St1 H 8 - U S Rubber 7%s. USBteelsfGs.... Utah Pow & Lt 68 . L S R R Wilson&Co. cv 7 Winchester A 7348, YoungstnS&Tes. 4 M!LROAD. Ann Arbor ¢s. 101% 102% | Foreign .| Standard Tank Car Co., 500 coal cars re Dirsct to The Star Office. Sales. High. Low. Close. 2 103 1024 ma 19 97% 97% 1% T 89% 89% 87% 87 115% 116% 80% 101% 107% 884 964 97% 91% B&Orfimp 6 Buff R& Pitt 414 Canad North 7s. ... CHRI&Pgn s ChIRI&Prf 4 Chi Un Sta 4%s Chi Union Sta &s Chi Un Sta 6%s. Chi & W Ind cn 4 C&WI1bY%s CCC&StLés CCC&StLrresA. Cleve Term 68 C&S 1st48'29 Colo & Sou 4% Cuba RR7%s Del Hud cv bs '35 Del & Hud 5%s. Den & Rio G cn 104% 107 102 84 64% £8% 72% 644 Erfe 1st cons 4s. Erle gen 4s Krie conv 4s A. Erie conv 48 B. Erie conv 43 D. Erle (Pa)eit tr Erie conv ext 7s. FlaEC s : FlaW&N78'43... Gr Trunk s &b 6s. . Grand Trunk Great North & Great North 5% s Gr North gen 7s. Green B& W db B. G Mob&N 5%sB '50 Havana ERL&P '60 Hud & Man ref 5s.. Hud & Manaj 6s. .. I1i Central 5%s. 11l C-C St L&NO Int Rap Tran 5s. . int Rap Tr b5 stpd. Int Rap Tran 6s Int Rap Tran 7s. Int & G Nor 15t 63. Int & G Nor a) 6s Kan City FtS 4s. Kansas City § 3: KansasCity S 3s. .. Kan City Term 4s. . Lake Shore 4s 28 Lake Shore 45 '31.. Leligh Val 5s 2003, Louis & N unf s. .. Manhat Ry cn 4s... 63 | 79% 984 | 95% | 1024 1024 | 6i% 64! A £8L 814 | Mo Facific 8s. 101% 101% | Mo Pacific 6 2 | Montrl Tm 1st 5s. . N O Tex & M in 5s. sw.\ 96 101% 101% Ta4 T84 ‘ent deb 6s. lSl Ldb4s. wsni 97% | »3% 984 | 93% | 102% 9T | ik § 1081 | 38% | 983 Ore Short L ref 4s Ore-Wash 1st rf 43 I'ennsyl con 4%s Pennsy! 58 6 Pennsyl 6%s. Pennsyl gold Ts Peoria & E Inc 4s. Pere Marq 1st 5 PCC&StLGs A Reading gen 4145 RIATK& L 4%s.. St L IM&S R&G 4s. StL&SFpl4sA.. 1 StL&SF prinb: StL&SF3%sD.. StL&SF adj 6s... StL&SF inc & StLSW Istds StLS W con 4s Sou Pacific 48 '23 Sou Pacific ref 4s. Southern Ry gen 4s Southern Ry 1st bs Southern Ry 6s ct Southern Ry 6%s.. Sou Ry Mobile 45 Third Ave ref 4s... Third Ave adj 5: Union Pac 1st 4 Union Pac 4s '27. Union Pac cv 6s. Virginia Ry 1st5s Va Ry & P 18t 63. Wabash 1st 6s. Wabash 5%s75. - 5 83% Wilkes-B&E 1st55. 3 63ty Wisconsin Cent 4s. 4 79% FOREIGN EXCHANGE. Quotations furnished by W. B. Hibbs & Co.) Npminal Selling checks o, vhuna. - TR o, Nontrea), dolia is. fran ‘ope R Pratriar oro Stockholm.’ crown. NEW YORK, September 24 (#).— exchanges, steady; quota- tion (in cents): Great Britain, demand. 484%: cables, 4.841%;-60-day bills on banks, 480%. France, demand, , 4.12%: cables, 4.73. Italy, demand, 4.07 cables, 407%. Demand: Belgium, 435% Germany, 23.80; Holland, 40.15; Nopway, 2035; Sweden, 26.82; Denmark, ; Switzerland,’ 19.30; Spain, ThAL: Gresce TAT. "Fotan, thoalovakm a, 1. 48%; Argenflnl, 40.60; Brazil, Tokio, 407; Shanghai, 797% treal, 100. —_——e CAR ORDERS IMPROVE. NEW YORK, September 24 (#).— In addition to a recent large order for locomotives the Louiseville & Nash- ville has ordered 500 box cars from from Pressed Steel Car, and.250 flat cars from Bethlehem Bteel at a total value of' $2,500,000. AXLE BUSINESS BOOMING. NEW YORK, September 24 (#).— Eaton Axle and Spring, reports pros- perous current :business -and satis- factory earnings. Contracts’ on hand M 000, for 1926 assure a volume neoedhm ‘ officlals sald, | ers. jany of the three cereals was in evi- |corn market suffered a | vance, December 40 to 401. % September | Hogs—Receipts, 17,000 head; fairly a FINANCI VIRGINA APPLES MOVING RAPIDLY Weekly Review ‘Shows Few Price Changes in Lead- ing City Markets. Apple prices during the past week show little general change consider- ing the leading city markets to- gether, but the earliness of the sea- so0n is responsible for fapid increase in supply. The prevailing range is $1 to $1.75 per bushel for principal red Fall varjeties and $4 to $5 per barrel. In most markets the prevailing tone was slow and dull but not weak. EX- tremes were Ben Davies at $2.50 in St. Louls and in McIntosh at $7.50 in New York.. Grimes and Jonathans s0ld mostly $5 to $6 and Northwestern Greenings, $4 to $6. Crop Moving Rapldly. ‘Western New York shipping points quoted Fall kinds around $1 per bushel and A 213 Mclntosh, $5.50 per barrel. Grimes held at $4.50 f .0. b. in the Shenandoah Valley: Delicious, $7, and York, $4. The Valley crop in Virginia and West Virginia is re- ported moving along fast. It ripened early and many districts are practi- cally sold out for the export trade at prices netting fully as much as the domestic market. The apples were smaller than usual because of dry weather and not a heavy set in most localities, but color and market qual- ity were good. Michigan shipping points quoted Rhode Island Greenings and Spys, $4.25; basket stocks, 80 cents to $1.15. Extra fancy, boxed apples, f. o. b. Northwestern shipping points showed few price changes; Jonothans and Romes brought mostly $1.50; Wine- saps, $1.75, and Delicious, $2.25. Some orchard-run Jonothans in bushel baskets sold $1.10 to $1.25. Extra Fancy Jonothans ranged $2.50 per box in New York. Export Trade Active. Export trade has been early and active. Shipments for United States and Canada were reported already this season 237,000 barrels and 200,000 boxes. About half of those were shipped the past week. Prices have held up well in British markets de spite the heavy supply. The crop is reported light in England and mostly cooking stock. GRAIN PRICES CRASH IN CHICAGO MARKET May Wheat Reaches Lowest Level | of Season as Buying Sup- port Stops. September 24 (P).—All future deliveries of wheat dropped to below $1.50 a bushel today, with De- cember under 1.46 for the first time in many weeks. There was much selling out to stop losses on the part of hold- ers, and as a rule commission houses were also on the selling side. Selling was largely based on continued piling up of supplies in Canada and on ap. parent indifference on European buy- Chicago opening prices, % to 1 lower, Decem 1.46% to 1.46% and May 1. % to 1.50%, were followed by an additional fall that carried Decem- ber down to 1.45% and May to 1.48%. Corn, oats and rye each established a new all-around low price record for the seeason. Only scattered buying of CHICAGO, dence. After opening_unchanged to { 1% lower, December 79 to 79%, the general de. cline, December touching 78%. Oats started at iy off to a shade ad- Later, all months showed considerable loss. Deepite an advance in hog values, the provision market was responsive to the weakness of grain Subsequently the wheat market, especially May delivery, made a swift further descent, and May reached the lowest price level yet this season, 6% under ¥, finish. The market was virtually without any buying sup- port except from previous sellers, who | were in a position to collect a profit Rallfes ensued, however, just at the last. WHEAT— September December M S “Torx Open 46 December CHICAGO LIVE STOCK MARKET CHICAGO, September 24 (United States Department of Agriculture] to 30 higher than big packers, tive; mostly 15 Wednesday's average; inactive: bulk good and. choice, 140 to 225 pound weight, 13.35a13.80; top, 13.95; bulk better 240 to 340 pound butchers, packing sows, majority - strong weight killing pigs, 12.75a13.25; heav. hogs, 13.15a13.85; light, 12.40a13.95; light 11.90a13.80; packing sows re- celving, 11.60a12.60; slaughter pigs; 12.25213.40. Cattle—Recelpts, 9,000 head: fed steers active, strong to 25 higher: in | between grades, weighty kina e ing most advance; supply moderate; shiping demand fairly broad: best ma- tured steers, 16.25; few loads of value to sell above 13.50; yearlings, 14.50; she stock fully steady: weighty bologna bulls in demand at 5.26a5.50: vealers more active than early, about steady at 13.50 downward to_ packers. Sheep—Recelpts, 13,000 head; slow, few early sales fat native lambs around steady; several decks to packers, 14.00; city butchers upward to 14.50; neth- ing done on fat westerns: few loads feeders steady at 15.00a15.25; no early sales fat sheep; one double feeding ewes, 7.25. CANADA’S EXPORTS UP. .25; Commodities Sent to U. S. Greatly Increase in Value. OTTAWA, September 24 (®).—|p, Canada’s exports to the United States of principal commodities produced on Canadian farms, or manufactured directly from such farm products, show an increase in value of $2,373,- 201 for the 11 months ended August 31, as compared with the same period ended ‘August 31, 1923. The total value of these exports for the 11 months just ended reached $47,287,183, according to a report issued today by the Dominion Bureau of Statistics, as against $44,913,982 for the same period ended August 31,1923, jof the American Bankers' Assoc 19% AL. IDEYBER SUMMONS SPECIAL MEETING Advnsory (:ouncll of Richmond Reserve Bank to Meet at Atlantic City. Y CHAS. P. SHAEFFER. The stockholders’ advisory commit- tee of the fifth Federal reserve dis- trict, created at a conference with the Richmond Federal Reserve Bank las' April, promises to bear its first fruit at the forthcoming annual convention tio: which gets under way at Atlantic Cit next Monday. Victor B. Deyber, president of the Second National Bank of this city, who is chalrman of the cor 1-ee has called a meeting of its various members (a majority of whom have Indicated they will attend the annual conclave) to meet at Haddon Hall September 28, at 3 pm The arranged conference is in line with suggestions of the Federal Re- serve Bank of Richmond, that repre- sentative members of the Federal ra- serve system act in an advisory ca- pacity to the Richm with the hope that closer mutual understanding between those charge at Richmond and stoc kholding member banks may res: While no mode of procedure has as yet been mapped out, it is understood that Mr. Deyber will take cou with his committeemen present, | vite suggestions, give detailed discu sions to any proposition offered and undoubtedly adopt a definite itinerary for future meetings The stockholders' advisc tee is comprised of two me; each State in the fifth Fede: district and two from the Di Columbia. Serving with Mr. Deyber from this territory is John Pool president of the Federal-American tional Bank Harriman Contract Let. Harriman & Co. h just closed negotiations with the firm if Swart zell, Hheem & Hensey Ly which the latter firm is to tear down the } Building, at 729 Fifteenth street, erect thereon a building not to exc ten storles, to be called the Sec Building This | ers Reser rict of ve and to be a most attra limestone expensive structure of whi or white terra cotta ing an area feet in width and 135 feet in depth. Harriman & Co. oceu he first floor. with Redmond cupying the second. Pres call for a complete floor to each ten Rate Change Discussed. Poseibility of a change in the New York Federal Reserve rediscount b Is again receiving wide: {tive attention in the Wall trict. Although the recen of money and acceptance expanding commercial demar funds and the increase in securities holdings by banks would seem to pr vide a_bas it is felt in many change will be at ernors at their of the delicacy negotiations now i Corcoran Thom, the American Securit today accepted the the committee on law a of the District Bankers' . The appointment is i thoroughly qualif modern bankins, disseminate, alm ments that would be det the local fraternity, and vice Serving with Mr. Thom committee are Joshua Gould. John B. Larne Maurice Ottert George O. Wal White. With this dent Addison’s standing are completed. Railway Common Steady. Today ssion on the Washington Stock Exchange was comparatively quiet, with major attention centering on common stock of the Washington Raflway and Electric Co. This issue netted no change on the day, an ad- vance of half a point to 164 on sales of 20 shares being discounted by subse- quent sales at 16314, the day's opening and also ifs closing figure. Ten shares R preferred sold at 861, like. nged. Riggs National Bank stock held its high level, 410, on sales of 10 shares, while Lanston was firm at sales of 25 shares. 'National Mortgage and Investment, preferred. brought . and $500 Washington s 5s, the only active bonds, brought 99 Southern’s Earnings Grow. Upward revision of estimates of the 1925 earnings of Southern Railway are coming from interest close to the management in view of recent im provement in traffic. it being now ex appointment committees i pected that more than $14 a share will be shown on the $120,000,000 common stock, and §$18 a share including In come from subsidiaries. Surplus for 1924 was equal to §12.30 a share and subsidiary income added $3 more. Two Dividends Voted. Directors of the Security Savings and Commercial Bank have declared ‘the regular quarterly dividend of 8 per cent, and an extra disbursement of 1 per cent, pavable on September 30 to_stockholders of record Septem ber 25. PACKABD DIV IDEND UP. DETROIT, September 24 (#).—The Packard Motor Car Co. has declared the regular dividend on common stock. The dividend is 5 per cent, an increase of 2 per cent over the last quarterly payment. TB.BASURY CEBTIFICATES (Quotations furnished by Redmond & Co.) DIVIDENDS. Pay Stoek of _able. n AT 0w b mr'm'mmam Lt HU&P 7Y o "‘.." e cri 05D Eusd r Prod | N.n Fireprt A N Pow & Lt vi Norfoll k & W Ry adi ol 3 Bra’chaet 24 p)’ Il Pitts Coal TODAY'S BVTTEB PRICES. CHICAGO, September 24 (#).—But- ter—Higher; receipts, 4,890 tubs:cream ;_“:x:- e *3 TRUCK EXPORTS INCREASE. CLEVELAND, September 24 (Spe- cial).—The White Motor Co's. export business is reported on the increase ery extras, 47; standards, 46%; extra firsts, 45a46; firsts, 4215a44; seconds, 39adll. - EggsHigher: recelpts, 3.964 cases; firsts, 3 ordinary firsts, 28a32. and shipments of trucks and busses in considerable numbers are no: n{omg B ull-l’llh and Holla: The pine has its greatest growth I ne. : ’