Evening Star Newspaper, October 2, 1925, Page 30

* FIN OIL STOCKS RULE STRONG IN MARKET More Active Than for Many Weeks—U. S. Steel Also Goes Higher. BY STUART P. WEST. Bpecial Dispateh to The St NEW YORK, October ~Trading on the Stock Exchange today w: at a lively pace, with the volume of business increasing and with a larger number of new high records. There was a series of group movements, notably in the rubber and tire the agricult 1 chemic the baking, the oil and steel shares While certain sections of the list bid up. however, profit-tuking iles were re- ducing the recent guins tions. United States Steel Above 1 The rise in United °] 122 and th advanc in Bethlehem Steel and Crucible were attributed to short covering. The bout estate liquidation in United tat credited, but today more paid to the fact that thi s to pick up stock to offer later to s employ Stewart W s actively bought on reports in quarters apt to be best informed that ex are running at the rate of $13 There w a widespread tip that Pierce-Ari v prior preferred would be retired, and on this an ugent buying movement came into the common stock. Fisk Rubber made a new high, and United States Rubber was activel dealt in around top figur meeting, howeve! @& lot of realizing later in the day. Usual List of New Highs. number of new hifh records Among these were Chemical stock Agricultural up nearly the preferred up 4 and Mathie. Alkall. Others whieh bettered eir previou were Fleisch- mann, up ne: points: Barnett ther. American Linseed. New York Vivaudou and the bak- The buying in the baking was associated with the con- solidation repc S. A strikis i an odd lot of Michigan Cent is hardly ever dealt in, at represented an advance of rom the last sale. g Tt was no surprise to the Street after the extraordinary rise in the baking stocks to learn that the Ward inter: s had offered $2 share with ac- crued dividends fo eral Baking stock. 0il Shares Very Strong. The oil stocks had the best day they have had in a long while. This was because of decidedly more encourag. ing reports on the statistical position the industry. The best informa- tion for ¢ had been_that companies Marland and Texa would make a surprisingly good show ing for the vear. Today the market be, N to " more attention to these s was attested by the heavy of Texas Co. above 49, of Marland to around 48, of General Asphalt common and preferred up over 4 points. of Skeily. Pan Ameri- can and Philips Petroleum. Americ point son ‘points buying rmous Sales Total Makes Record for Many Months. W YORK, October 2 closing was strong in undiminishe dealing P).—The Buying continued volume in the final pushing total sales up to around 2.250.000 shares, the largest single day’s business since early in the vear. Prices continued to advance rapidly, with gains of 4 to 6% points embracing General Asphalt common and preferred, Ward Baking B, Mack } Trucks, Texas Gulf Sulphur, Sloss Sheffield Steel and New York Ship- luflding. Ten shares of Michigan Cen- iral were sold an advance of 0 points over the last previous sale in September. strong: vigorous French firm. = Foreign French francs Cotton, eas) private D repor § steady; trade buying. Coffee, poor spot demand. CHICAGC pointing export. favorable weather. choice grades s WOOL MARKET STRONGER BOSTON, October 2 (A).—The Com- mercial Bulletin will say tomorrow: “The tendency of the wool market here has been decidedly upward this week and increasingly %o as the week has progressed. Medium wools are especiully strong. but fine wools are advancing also, the net advance being 310 5 per cent ““The mill situation appears increas- althy, with some of the wool- s getting a little business again e of the worsted mills buy- ing wool. “The foreign react; domestic bonds, exchanges, irregular break 10 poin ¥ un- stead: markets are strong. London is tending upward. Good clearances—practically total—are re- ported from Australia, South America and Cape Firm. BRIDGE CONTRACT LET. BILOXI. Miss., October 2 (Special).— A contract for a bridge across the Bay of Biloxi to cost about $400,000 has Leen awarded to A. M. Blodgett of New Orleans, who will start work im- mediately. RATES ON BAR SILVER. LONDON, October 2.—Bar silver, 7 per ounce. Money, 215 per cent. Discount rates: Short bills, 3 3-16a31 per cent: three-month bills, 33, NEW YORK, October NEW YORK, October initial dividend of 75 cents a sha the common stock of Julius Kayser Co. has been declared payable No- vember 2 to holders of recdrd Oc- tober 20. GERMAN BONDS AND STOCKS. (Quoted in dollars ver millign marks ) Ger Gt (w In) 5s 1914-18. 30000 S ias 1919 ... 18 5 (1 3 Ger Gt R-13s 1¢ (Quoted in dollara Ger Gen Elec 4138 pre- 458 19100 Cwar, oL Zonx Munich 4s pre-war Badische Anilin. A'E G (Ger Ge Fiec Commerz and Privat Disconte Gellschaft r Bank. .. Bnorzcai e 0 0 .60 ANCIAL. | Abitibl Pow (4). Adams Exp (6). Adv Rumley.... Ahumada (t1).. Ajax Rubber. . Alasxka Juneau. . Allled Chem (4). Allled Cm pf(7). Allis Chalm (6). Am Agricul Chm Am Ag Chm pt.. Am Beet Sug(4). Am Bosth...... {Am Can (47).... Am Car&Fdy (6) Am Chain A (2). | Am Express (6). Am & For Pow Am& F Ppt ( Am Hide & Lea. . Am Hide & L pf. Am Ice (8). . Am Internati. Am Linseed. .... Am La Fran (1). Am Linsd pf (7). Am Loco (118).. Am Metal (3)... Am Radlator (4) Am Republic. ... . Am Safety R (3) Am Ship&Com Am S & Ref (6). AmS&Rpt (7). Am Snuff (12)... Am Stl Fays (3) Am Sugar. Am Sumatra. ... Am Te'&Tel (9). Am Tobacco (7). Am Toba & (7). Am Typ Fdis(8) Am WW&EI 1.20 Am W W 18t (T) Am Waeolen. ..... Am Wool pf (7). Am Writ Pap pt. Am Writ Pa ctfs Armour Del (7). Armour 111 A(2). Arn Cons&Co. Arnold Con ctfs. Artloom (75¢)... Asso Dry G(2%4) Asso D G 1st(6). AssoD G 2d (7). Asso Oll (2).. Atchison (7).... Atchison pf (5). Atl Birm & At. Atl Coast L (18). AtIGuif& WI.. At] Gulf & WI pt Atlantic Refing. Xllas Powdr (4). Atlas Tack Austin-Nic! Taddo Central Baldwin L (7) Balto & Ohto(5). Bal & Oh.pt (4 Bang & Ar (3) Barnet Leather. BarnsdallA..... Bayuk Clgar.... Beech Nut(2.40). Belding Bros(3). Bethlehem Stl... Beth St pf (8) Booth Fisherles. Briggs Mfg(113) Bkl-Man Tran. Bk-Man T pf(6). Bkl Union G(4). Brown Shoe (4). Brunswick-Balk. Burns Bro (10).. Burns Br B (2).. Bur Add Ma (3). Bush Terminal.. Bush Ter de (7). Butte Cop (50¢). Butte&Super(2). Butterick. . . Cal Packing (6). Calif Peint (2) Calluhan Zinc. . . Calumet & Ar (4] Calumet & H (1) *Canada Sou (3). Can Pacific (10). Cent Leather.... Cent Leather pf. Century Rib (2). Cerro d Pasco(4) Certain-Teed (4). Chandler (3).... Chees&Ohio (4). Chi & Alton. Chi & Alton pt. Chi Great Wes Chi Gr West pf.. Chi Mil & StP. Chi M1l & StP pf Chi & Nwh (4).. Chi & Nw pf (7). Chi Pneu T (6) ChiR1& Pac CRI&PDL( ChiStPM&O Childs (32.40). Chile Cop (2%). Chrysler Corpn. Chrysler pt A(8) Coca-Cola (7)... Col Fuel & Iron. Colo Southern. .. Col G & E (2.60). Col Carbon (4) Coml Cred (13). Com Inv (2.50).. Congoleum (2) Conley (sta) Consol €igal Gen Cigar pf (7). Consol Distribut Consol Gas (5).. Consol Textila. . Cont Can (4). Cont Can pf (7). Cont Mot (80¢).. Corn Prod (2). Coty, Inc (3.80).. Crucible Stl (4). Crucible pf (7) Cuban Cane Su Cub Cane Su pf. Cuban-Am S (2). Cudahy Pkg (7). Cushman’s (3).. Cuyamel Fr (4). Daniel Boone Davison Chem . Del & Hud (9).. Del L & Wn (17) DRG Wstpf, .. Detroit Ed (8) Detroit Ed rt Devoe 1st (7) Dodge Bros Cl A Dodge pf (7).. Dour Pectin (1). Dul S S & Atlan. Dupont (19).. .. DuPont deb (6) . ®astman (18). Eaton Axle (2) Elec Powr & Lt. EIP&Lpf (7).. E P&L pf 40% pd Elec Str Bat (4). Emmerson Brnt. Emmerson B pf. End John (5) RR Jederal Mines. .. Fed Min pf (7) Fisher Body (5). Fisk Rubber.... Fisk R 1st pf (7) Flelschmann(t5) Foundation (8). Fox Film A (4).. Freeport-Texas. Gabriel A (2%). Gardner Motor.. Gen Am Tk (3). Gen ATC pf (7). Gen Asphalt. Gen Asph pf (6). Gen Baking($) . Gen Bakg pf (8). | Sen Cigar (8)... 0 | Gen Electric (8). Gen El spgc 600 e — Open. High. 674 98 156 10% 12% 2 102% 119% 87 264 T4% 36% 37% 241 109 22% 138 4T 871 116% n other direc- | Am Loco pf (7). 120 51 1104 38% 1184% 112% 145% 40% 66 114 139% 113% 121 55% 102 1014 854 2% 1% 364 122 947 o 197 T4% 58% 101 51% 13% 27 824 Bkl Edison (8).. 144 656'4% 80 887% 1411 314, 116% 32 96 1% 85% 6 1% 19% 126% 28% 2 50 14 574 149% 20 63% 88% 652 53 37 108% 13 10% 10% 24% 8% 16% 684 115% 114 4% 186% 107 14234 39 634 T6% 46 38% 51 22% 102 20 47 1 41% 145 188% 43% 145% 4% 101 34% £6% 21 3% 191 102% 112 24% 32 91% 106% 66% 3% 1 27% 114 134 136% 69% ” 36% 30 564 102 (3 97 224 120% 96% 804% 114% 13 374 Low. Close. § 671% 96 15 10% 12% 2 101% 119% 87 25% 4% 36 37 70 96 15 10% Alr Reductn($5). 109% 109% 108% 109 12% 2 101% 119% 2 763 36 37 241% 239% 240 111 22% 109 22% 138 471 91% 10% 63% 117% 3915 49% 13% 87% 1151 120 5019 110% 584 63'% 3 112% 112% 145% 40 66 11 189% 118% 113% 121 b5 101' 39% 854 2% 116% 32 96 17% 86% 6 1% 19% 126% 28% 184% 107 142% 59 63 6% 46 38% 75% 23 3% 30% 87 5 90% 8 64 117 10% 364, b4 2% 99% 9% 43 22% 102 90 47 1 40% 86% 21 3% 189% 102% 111 106% 661 112% 130% 136% 6915 17 97 2221 120% 109 22% 138 4T% 92 11% 64 118% 89% 49% 13% 88% 115% 120 50% 110% 58% 644 6% 413 112% 145% 40% 67% 1 1424 115% 114% 121 55 101% 39% 85% 3 117% 32 96 17% 87 6 1% 19% 128% 29 2 1864 1094 142% 40 63% T6% 49% 394 6% 23 % 39% 87 5 91% 3 76 17 11 36% 54% 73 9% 9% 43% 22% 106 920 48% 1 40% % | Pan-Amer B (§). 86% 21 315 189% 102% 111% 106% 61% 112% 140 138% 69% 17% 100% 225% 120% trm (3) 46% 48K 46% 47 Gen Ry 8ig 17%..823 , 326 821% 825" THE EVENING STAR, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office | Gimbel Bros Ginter (1%4). Glidden Co. Gold Dust 68! Goodyearpf (7). 108% Goodyr pr pf (8). 105% Gould CoupA(2). Granby Consol. . Grt North pf (6) 78% Gt Nor Ore (1).. 31% Green Canan. 12! Grt Wstn Su (8). Gulf Mo & Nor. . Guif States 8 (5) 80% Hartman (2%)..- 29 Havana Elec (§) 238 Hayes Whi t3%. 40 Helme GW pt(7) 114% Hoe & Co A (4).. Household P (3) Houston Ofl. ... Howe Sound (2). Hudson Mn (2% Hudson Mot (3). Hupp Mot (1) Nlinots Cen (7) Illinoic Cent rts. Indep O11 (1) Ind Motrey (50c Indtan Refining. Indian Refg otfs. *Ingersoll R(8). Inland St (2%).. Inspiration (2). Internat Agri 16% Int Bus Mac (8). 154% Int Cement (4).. 7% In Cement pf(7). 104% Int Com Eng (2) 46% Internat Har (5) 132% Inter Har pf (7). 120 Int Mer Marine. 9! Int Mer Mar pf. Int Nickel (2) Int Paper....... Intl Caper pf (7) 93 Int Ry Cent Am. S1 Int Tel & Tel (6) 121 Jewel Tea...... 1T% Jones Bros Tea.. 17 Jones & Lau (7). 116 Jordsn Mot (3).. 43% KCP & L 1st (7). 107 Kan City South. 40% KanCSopf (4). 60% Kansas & Gulf.. 'y Kayser (Jultus). 87 Kayser (J) pf(8) Kelly-Spring.... Kelsey Whi (6). Kennecott (3) KeystoneT& R. 2 Kresgze DeptS... 34 Kresge S S (8).. 570 Laclede Gas (8). 164 Lee Tre & Rub.. 18% Lehigh Val (3%) 78% Liggett & M (t4) 77 Lig & My B (14). 75 Lig & My pf (7). 120 Lima Loco (4).. 66 Loews Inc (2)... Loft. Long Bell A (4). Loose-Wiles. ... Loose W 1st (7). Lorillard (3). Loulsiana Oil . . Louls Gas A 1.76 24 Louis & Nsh (6). 118 Ludlum (2)..... 36 Melntyre P (1).. 19% Mack Trucks (6) 212 280 43 26% 48% Maey H R & Co. Magma Cop (3) Mallizon & Co. Manati (5) Man El Sup(4% Man Emd g (5). Man Shirt (1%). Manila El (2%). Maracaibo O1l. ... MarlandOil(1%) Malin Rock (1).. Mathieson Alka. May Dept St (6). 124 Metro G pf(1,89) 21 Mexican Seabd.. 12% Mtami Cop (1).. 9% Mich Cen(20)0.1.. 650 Mid-Continent.. 29% Middle States... 1 Mid St Pr pf $10. 1397% Minn & St Louts.” 5 Mis Kan & Tex. . Mo, K & T pf (5) Missouri Pacifie. Mtssouri Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3) Mother Lode 7o Motor Met (3.60) Motor Wheel(2). Mullins Body... 1 Murray B (12.40) 30 Nash & Chat (7). 164% Nash Mot (t16). Nat Biscuit (3). Nat Cloak (4) Nat Dairy (3) Nat Dpt Stort Nat Distilles Nat Distillers pf Nat Lead (8).... Nat Supply (3).. Nevada Copper.. NY Air Brake(2) NYAIrBrA4) N Y Canners (2). 58% N Y Central (7). 121% NYC&StL (6) 136 NYC&SLpL(8).. 94% NYNH&Hart. 36 N Y On&Wn (1).. 27% *NY Rys pf tcfs 290 N Y Shipbld (2). 6l NY Steam pf(7). 100 Norfolk South.. 44% Norf & West (7) 140 North A (B3.40). 64% North Am pf (3) North Pac (6)... Norwalk (1.60). Nunnally (1. Ontarfo Mining. . Onyx Hos pf (7). Oppenheim (3).. Orpheum (1.80). 804 Otis Elevator(6) 128% Otis Steel. . 124 Otis Steel pf.... 84% Owens Bot (3).. 58% Pacific Gas (8).. 120 Pacific Ofl (3)... 54% Packard Mot(2). 39% Paige Mot(1.40). 25% Pan-Amer (6 64% 63% Panhandle. .2 Park & Tilford.. 26 Pathe Ex A (c3). 8% Penick & Ford... “20% Penn C & Cke.... 17% Pennsy RR (3). 48% Penn Seab Steel. 1% Peoples Gas (8). 1184 Pere Marq (4)... 73% Pere Mar pt (5 Phla Co (4). Phla Co pt (3) Phila&RC&I. Phillips Pet (3). Pierce-Atrow. .. Plerce-Arrow pf. Plerce OU, .. Piti Pitts Ut pf 11.20. Postum Cer (4). Press Steel Car. Prod & Refiners. Producers&Rpf. Pub 8-r N.J.(6) Pub se E&G pf 6. Pub SelE Popf 7 104% Pullman Co (8). 164% Punta Aleg Sug. 34% PureOll (1%)... 26 Radio Corpof A, G58% Ry Stl Spx (8).. 178 Ry St Sp pf (7).. 118% Rand Min (1.52). 36 Reading rta, . Reading 2a ¥ Reld Ice Cr pf (1) Kemington Type Remingtn 2d(8). 103% Replogle Steel. . % Rep Ir & Steel RepI1&Spf (7). Open. High. Low. Closa. 63 65 6 A 64% 43% 68% 100% 105% 224 18% 8% 1% 12% 101% 81% 81% 20 238 42% 114% 4T% 41% 69 24% 36 K% 24 115% % 1 25% 20% 9% 8% 280 4219 26% 16% 14% 30 82 97 104% 182% 34% 27 B8’ 174 118% 36 18 84% 18% 40% 9% 9% Y% 108% 16 50% 2% 9% 8% 50% B3%, WASHINGT:! " INBOND HARSET Weakness in French Issues Fails to Check Rest of List From Advancing. BY GEORGE H. HUGHES. Special Dispatch to The Star. NEW YORK, October 2.—The fail- ure to reach an agreement on the French debt refunding proposals, how- ever disappointing to dealers in French securities, did not weaken the investment situation of the French bonds, and this fact was recognized in the bond market today. The French issues were lower, but the decline was not at all important. The government 8s were off from 1053 to slightly below 105. The 7s were down a half point and the Paris, Lyons and Mediterranean 6s fell away a point. But there was no large sell- ing. It was a downward movement brought about on sentimental grounds. German Issues Lower. German government bonds were fractionally lower at 97% during the greater part of the time as against 9814 at Thursday's close. The Arzen- tine 6s of 1959 were dealt in a shade above thelr issue price of 96. Jeru 8s were off a quarter of a point. Dodge Bros. debenture 63 made a new high at 97%. Subsequently they receded. But this was altogether the main episode In the bond market of the day. The strength of rubber securities showed itself once more in the G mand for United States Rubber 5s, which were quoted at 90%. The turn for the bettor in the oil shares was attended by larger transactions at ad- vancing prices in ofl bonds. Sinclair consolidated 7s were 92 as against 913, the close of the previous day. New Issues Out Today. An issue of §3,700,000 Federal Com- ipress and Warehouse Co. first mort- gage 6 per cent gold bonds were offer- ed for public subscription Iy Harris Forbes & Co. Also $3,000,000 De- partment of Antioquia 7 per cent 20- ! year external sinking fund gzold bonds series A, at-90 and accrued interest. TIRE PRICES ADVANCED. NEW YORK, October 2 (#).—The winehart Tire and Rubber (‘0. has raised auto tire prices 10 per cent, ef- i fective immediately. According to of- ficials of the company, the increase is due to high prices of the crude prod uct. BOND ISSUE SOLD. NEW YORK. October 2 (Special). —Edmund Seymour & Co. announce that the issuo of $1,000,000 Industrial Ofiice Building (Newark) 7 per cent convertible sinking fund gold bonds (closed mortgage), offered DLy them this morning, has been sold and the subscription books closed. St Joseph L(13). StL & SanFr((7 StL San F pf(6) St L Southwest. Savage Arms. Schulte Stor (§8) Seaboard Air L. Seabd Alr L pf.. i Seagrave (1.20). Sears-Rebk (6). Shattuck F G(2) Shell Un (1.40).. Simmons Co (2). Simms Pet (1) Sinclair O1l. Skelly Ofl... Sloss-Sheft (6) South Port S (6. South Pac (6). Southern Ry (5). Sotith Ry pf (5). Spicer Mfg..... Std Gas & E)(3). Std GEE1 pf(4). Stand M1l (6)... 43% 97 877 36% 67% Studebaker (4).. Submarine Boat. Superior Ofl Superlor Ste Sweets (uew). Symington...... Symington A(2). Tenn Copper (1) Texzs Co (3).... Tex Gulf Sul (8). Tex & PacC & 0. Tex & Pacific The Fair (2.40).. Third Avenue, Tide Water (1).. Timken R B (14) ‘Tobac Prod (§).. ‘Tob Prod A (7).. Transcont Ofl... Underwood (3).. Un Bag & Pape Union Ol (1.80). Un Pacific (10).. Un Pacific pf (4) Utd Cigar(a3%) United Drug (7). UtdDrug 18t 3%. Utd Fruit (10).. Utd Papbd (50¢c) Umversal Pipe.. Univer Pyt (7). Utah Copper (4). Ut1l PEL A (3).. Vansdium (2)... Va-Care Chem. Va Caro Chem B. va-Caro Ch pf.. Va-CarCh pf cfs. ‘Vivaudou. Wabash. . wWabash pf A (8) Ward Baking A. Ward Baking B. Ward Bak pf(7). Warner A (1%). warren Co (4) Weber (4). West Pen (4) West Pen pf (7). W PaPow pf(7). 1 West Maryland. West Md 2d pf.. ‘Western Pacific. . West Pac pf (6). West Union (7). West Alr Br (6). Westinghs (4) Weston Elee. Weston A (2) Wheel & L Erle Wheel & L K pt.. White Eagle (3). White Mot (4).. White Rock (12) Wickwirectfs... Wiilys-Overid. .. 26% Willys-0d pf(7). 1074 Woolworth (3).. 168 27% 26% 94y Wor Wrigley (13%). Yale & Towne. .. Yellow C (2.52). Youngstown (4) 686 64% 48 47 1% 8 vidend rates as given in the above table h payme o a8, pvmeots bised oo e hicate Dthorwise mfi. extra or special diar: Sinds are mot included. 5 .Da‘::lld ‘:ln'l A .lg‘nl!l;\ll‘r r?te.' b #tock - or 26 | Binolair Ol 7 65 1| Southwest Bell D. (., FRIDAY, OCTOBER 2, 1925. IPRICES GO HIGHER | Coxev vom BONDS oo ) Recelved by Private Wire Dirsct to The Star Office. UNITED STATES. (Sales are in $1.000.) Sales. High. Lib3%s... 232 1006 Lib 1st 4s 13 102 Lib2d 4%s. 216 100 31 Lib3d 43%s. 108 101 12 Lib 4th 431 249 102 18 US4s1944. 3 1033 uUs *62 7 10610 Canada 5s 1931. Cunada 55 1952. ... Canadn 5%5 1929 Thile 75 1943, Chile 85 1926. Chile 8s1941.... Chinese Gov Ry 5 Christiania 8s.". Con f'ow Japan Copenhagen 5% Cuba bis. . Czecho 88 1951. Czecho #8 1952 cf Denmark 6; Denmark 8s. DEIG%sMch's3. 3 DEI5%sNov'63. 2 Dutch East 168°47. 8§ Dutch East I 6s°62. 10 Finland s f 68 4| Finlands 7; 5 French 7s. French 8s Ger E1 63550 wi. . German 7s. . Ger Gen Elec 7s. Greek 7 Haiti 68 Hungary 6%s Japanese 6%s Jergens U M 6s Mexico 5s assented 16 Montevideo 75 Netherlands 63 °64. Netherlands 6s *i2. Nord 6%s.. Norway bis wi Norway 65 1943 Norway 6s 1944 Norway 6s 1952 Orfent Dev deb 6 Paris-Ly' Paris-Ly’ Paris Orleans Is. | Peru 8s | Poland 63 °40. 50 wi. Porto Alegre 88 Prague 7%4s.. Queensland 6s. Queensiand 7s. Rio de Jan i2i0 de Jan 8s 15 Sao Paulc City 8 Sao Paulo State 8; Stof S Paulorots. . - | Seine Dept cf 7s. Serbs Crot So 8 Solssons 6s. Sweden 5% s ct. Sweden 6s. Swiss 5% 1 Swiss Confed Ud Kingm 5% 29 Ud Kingm 6%as ‘37 Ud Steam Copen 68 1 Uruguay8s....... 2 Zurich 8s. 1 Am Agr Chem 5s Am Agr Chem Am Water Wks b: Anaconda 1at 6s. | Anaconda cv db 1s. Andes Cop 7srct: Armour & Co 4% Armour Del 5% Bell Tel Pa &s. 2 Beth Steel pm 68. .. Beth Steel 515 53, 2 Beth Steel s f 6 Brier H St 1st 5148, Bkiyn Ed gen 5s. Brooklyn Union & Bush T Bldg 55°60. Calif Pete 6%s. . Cen Leth 6845 cfs Chile Copper 6 Col Gas & El 58 sta Commonwth P s Con Coal Md 1st bs. Con G NY 6%s wi. Consumers Pow bs. Cuba Canecvd$ss.. Denver Gas 6. Det Edison r Dodge wi 6: Donner Steel 7s Dugquesne Light 63. Empire G & F 745s. 31 Goodrich 6348 Goodyear 88 1931 Goodyear 88 1941 Hershey 5%s wi. Hershey 65 1942. Iilinois Steel 4348 Indiana Steel 6s. Int Mer Marine éa. Int Paper 68°47..... inter Paper 68 Int T & T 6%8 w! KCP&Lt6sA'S2 Kan G & E1 6s°62.. Kelly-Spring 8 imckawa S 53°50. Lacl G ref 53'34. Laclede G 5% '6: Lorillard (P) bs. Lorillard (P) 7s... Loutsv G & E 6852 Manat! Sug sf T%s. » o aeaBomcaltanten blic Service ' Sorv Gas 64869 PServGas5% '64 Punta Alegre 7s. Rep Ir & Steel &s. . Saks & Cosf 7s. Sinclair Ol 6 Sinclair O1l 6%s. So-nmw 8o Por Rico Sug7s. 1 Tenn Elec Pow §s.. 22 Toledo Edn 1st 7s.. 3 Union Bag & P United Drux 6; G S Rub 1st rf b U S Rubber 7% U S Steel s £ 5 Utah Pow & Lt 5s.. Na-Cir Chem 7s. Low. 100 2 Close. 100 2 101 28 101 28 100 28 100 28 1019 1023 1 103 101 10 2 4 1033 1069 1063 108 MISCELLANEOUS. 102% 106 104% Bok% 1% 100% 84% 1U3% w01k 105% 100 1024 108% 98 102% 90 10?7 Sales. High. Low. Close. 954 96% 96% 102% 974% Sales. High. Low. Close. 8 89 83 89 2 80% 80 80 2 92 92 % 100% 110 1084% 102 97% 101% Vertientes Sug 7s.. Warner Sug 78 Warner Sug 7s %1. West Elec 5s...... Westn Unfon 614s. Westinghouse 7s. Willys-Ov 63%s°33. Wilson & Co 1st 6s. 15 Winchester A 7%s. Youngstn 8 & T 6 Atchison gen 4s. AtlanticCLecl 4s.. 19 B &OGold ¢s B&Ocvay B&Orefbs B&O1stbset. Buff R & Pitt 4% Canad North 7s Canad Pac deb 43 Car Clinch & O Centof Gas4s Central Pacific 4s. . Cent Pac 1st 55°90. Ches&Ocv 4¥s. .. Ches & O cv bi Chi & Alton 3% Chi B & Q gn 48 '58. CB&Q-111dlv 4s.. Chi&E I gn bs. Chi Great West 4; CM&StP 4s'26 & StPdbds. .. & StP gn 45 '89 CM&StPcvbs... ChiRys6a. .. ChiRT&Pgndn ChiRI&Prfds... ChiTH&SE b Chi Un Sta 4%s Chi Un Sta bs. Chi Union Sta 68 '44 Chi& W Ind cn 4s.. C&WI5%s"62. CCC& St Lbs CCC&StLrfésA. Cleve Term 5s..... C&S1st 48’29 Colo & Sou 4%4s.... Cuba RRSs....... Del Hud cv 53 '35 D& Rio G Wat bs. . Des M&Ft D 4s. .. Erie 1st cons 48 Erfe gen 4, ¥rieconv4sA. Erieconv 4s B. Erie conv 4s D. Erie conv ext 7s. Erie (Pa)cit tr 4s. . 9 Busondlooanmoana®s anbeunirbnonSaSedo s 2 = o o - oo Fla W& N 784 Gr Trunk sf db Grand Trunk 7s. Great North 58 Great North 5 %8s Gr North gen 7s. Green B& W db B. 30 Hud & Man ref 5s..126 Int Rap Tran 6s... 3 Int Rap Tr 6s stpd. | Int Rap Tran 7s. Int & G Nor 1st 6; Int & G Nor af 68, Towa Cent rf 4s Kan City Ft S 43 Kansas City S 3s. KansasCity S 5i Kan City Term 4; Lake Shore 4s * Lake Shore 4s ‘31. P awdEaad Louis & Nash 7s. .. Manhat Ky cn 4s. . Man Ry 2d 4s wabaZ8uca-Balue aw MStP&S M StP & SSM 6%s. MK & T 1st 4 MK&T4sB MK &Tadj6s.... MEK&TprinbsA. Mo Pacific gen 4s.. Mo Pac 5 1365 ®o Pacific 6 Mo Pacific 6scfs. . Montr] Tm 1st 58. . N O Tex & M in bs. NOTex&Mb5sB.. P @ Y Cent LS cl 3% Y Chi& StL5%s 3 New Hav d 48°57.. New Havencd N Y Ont W 1st 4s. Norfolk & W cv 6s. Northern Pac 3s... Northern Pac 4s. Northern Pacr 1 Ore & Calif 1st bs. Ore Short L ref 4 Ore-Wash 1st rf Pennsyl con 43458 Pennsyl gen ¢34 8. Pennsyl gen 68 Pennsy! E:fi“' Por RL & P 6s'47. i Disappointment Over Failure of FINANCIAL. September Had I Fewest Failures In Whole Year By the Associated Press. NEW YORK, October 2.—Com- mercial failures in the United States in September are calculated at 1,465 by R. G. Dun & Co., the lowest total for all months since September last year, with liabilities of $30,687,319, the smallest reported in two years. PRICES GOLOWER INWHEAT TODAY Market Opens Well, But Takes Tumble During Final Trading. By the Associated Press. CHICAGO, October 2.—Active trad- ing and higher prices were the rule in the wheat pit today soon as business here began. expected strength of wheat quotations at Liver- pool was chlefly responsible for the upward trend of values in_ Chicago. Liverpool advices said arrivals of Rus- sian wheat were unsatisfactory, hav- ing a larger admixture than wms looked for, and that loadings in Rus- sia were being delayed owing to lack of arrivals at the seaboard. Chicago opening prices 1 to 3 cents higher, new style, December 1.36%; to 1.38 and May 1.381; to 1.39%, were followed by reaction to slightly below the initial range and then by fresh upturns. Corn and oats were responsive to the action of wheat. Opening 3% to 78 higher, December, 787 to 79%, corn held most of the gain. Oats started 'y to % up, December, 39% to 397;a40. Later changes were narrow. A sharp fall in hog values had a bearish effect on provisions. Subsequently the wheat market de- clined, news of dry weather in Aus- tralia_being without much effect in the face of apparent discrediting of advices about Russian buying in Canad; WHEAT— Low. Close. RO 86 16.45 788 EREN oc 16.05 16.05 DIVIDENDS DéCLARED i BY BIG OIL CONCERNS LOS ANGELES, October 2 (#).— | The Pan-American Western Co., hold- | ing company for the Pan-American Petroleum Co., has declared a quar- dividend of 50 cents per share, ble October 30 to stock of record 10, Pan-American Petroleum Co. de- clared a dividend of 10 per cent, which, it is estimated, will approxi- mate $1,000,000. Net earnings for elght months of this year were an- nounced as $4417.829, or about $8.86 on the 510,000 shares of capital stock outstanding. FRENCH ISSUES BREAK ON STOCK EXCHANGE Debt Agreement Starts i Heavy Selling. By the Associated Press. NEW YORK, October '2.—Disap- pointment over the failure to reach a permanent settlement of the French debt was expressed today by an in- itial break of 8 points in the French franc to 4.66'; cents and a decline in all the French bonds listed on the New York Stock Exchange. The stock market. however, developed impr sive strength, but this was due pri marily to retention of the 31 per cent New York Federal reserve rediscount rate. Both the French republic and the municipal bonds were sold freely at the opening of the market, the losses ranging from substantial fractions to more than a point. The provisional plan of five-vear payments, it is expected in the finan- cial district, will clear the way for negotiation of a new French loan by American bankers, which will prob- ably total $100,000.000 or more. Finance Minister Caillaux has indicat- ed that he would make no attempt to arrange such a loan during his present visit, but Wall Street is confident that new French financing will appear Rio G W 1st4s.... Rio G West cl 4 RIArk& L 4%s. St L IM&S 4s°29. St L IM&S R&G 48 StL&SFpl4sA.. StL&SF prinbs. SlLkSFB%s‘D-. 9 2! Sou Pacific clt 4s. . Sou Pacific ref 4s.. Southern Ry gen 4s Southern Ry 1st 58 Third Ave adj bs. Union Pac 1st 4 Union Pac 4s'27. ®nion Pac cv 6s. Virginia Ry 1st 6. Va Ry & P 18t & Wabash 53%s75. Western Md 4s.... Waestern Pacific 5s. Wisconsin Cent 4s. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) lling checki London. pound. .. Montreal. dollar. . Paris. z Bruasel Berlin, Rome.' lir: Zurich. franc...] drachima.. ‘WEEKLY COTTON REPORT. LIVERPOOL. October 2.—Weekly cotton statistics: Total forwarded to mills, 61,000 bales, of which American 39,000 stock 420,000, American 118, 000; imports 46,000, American 20,000; exports 3,000, American 1,000. LIVE POULTY PRICES. CHICAGO, October 2 (#).—Poultry, alive, firm; receipts, 10 cars; fowls, 17 24%; Springs, 22; roosters, within a few month: SEAT BRINGS.$120,000. NEW YORK, October 2 (#).—The New York Stock Exchange seat of the late Willlam H. Goadby was bought by Milton Weil of New York for $120.000 yesterday, an increase of $1,000 over the previous transaction. MEXICAN PLAN SCORED. MEXICO CITY, October 2 (#).—The Mexican Bar Association has called a NEW PEPCO STOCK. TOSELLATS 12 Company Itself May Handle Flotation—Traction in Arrears of Dividends. BY CHAS. P. SHAEFFER. Final plans for the issuance of $2 000,000 of new stock of the Potoma Electric Power Co. were approved by the Public Utilities Commission this morning, who decreed the issue should be sold at 98%, or one and half points under its par value. The stock is designated s the 6 per cent series of 25. Arrangement for the flotation have not yet been completed, but a meeting of company directors will be held early next week for this purpose, it is understood. It would not be sur- Prising to see the company itself han- dle the additional shares, with em- ployes of the company holding prefer- ential rights in the subscriptions. Considerable fuel was added to the fire of rumor that Capital Traction Co. would soon seek an increased fare for its lines this morning when a compilation of eight months’ reports of the compuny revealed a net in- come considerably in arrears of divi- dend requirements. Eight Months' Net Income. Net income of the carrier for the eight months of the present calen- dar year, ending with August 31, amounted to only $496,655.87, this amount being just $63,344.13 shy of althe $560,000 necessary to meet the 7 per cent dividend on $12,000,000 cap- ital stock outstanding. For the same period of last year the company had a deflcit of slightly more than $4,000 after deduction of dividend require- ments. The falling off in net revenues this year, as compared with last, cannot be attributed to decreased fares, as the carrier has actually hauled 244,414 more revenue passengers thus far this year than in the corresponding period of 1924. These figures, which are exclusive of pay transfers, read 42,684,632 up to and including August 21, 1925, as against 42,440,218 in the same months of last year. The main reason for the decrease, as gleaned from monthly reports, is a rise in op- erating expenses, consistent month by month. August’s report, just filed with the Public Utllities Commission, shows a net of $43.467, a decline of approxi- mately $5,000 over the same month last vear, the loss over last August being attributed to a gain in_operat- ing expenses of approximately that amount. Institute Opens Year. The local chapter, American Insti- tute of Banking, will begin active functioning for the ensuing year to- night, although the first lecture is not scheduled until next week. At their headquarters in the Ma- sonic Temple the membership will at- {tend a “pep meeting" lasting through- out the evening.. There will be in- troductory remarks by President Chaney, in which the vear's program will be outlined and detailed. Also there will be the presentation of cer- tificates to last year's graduates by Francis G. Addison, jr., president of the District Bankers' Association. Following in order will be the award- ing of the Washington Clearing House Association prizes by John Poole and the Charles J. Bell awards by Howard Moran. The main feature of the evening will be an address by Willlam Mather Lewis, president of George Washing- ton University. Also there will be refreshments and dancing. Linotype at New High. A further new high was registered by Mergenthaler Linotype on the local board this morning when this most popular of the out-of-town issues sold up to 189, its best level on recent movements. Trading was restricted to 15 shares, the initial transaction, involving 10 shares, bringing 188%. It was held at 1891z as the market closed. Capital Traction stock, no longer selling ex dividend, had sales of 32 shares at par and fractionally below. Lanston was unchanged at 85. Bond transactions were limited to three is- sues, Washington Gas 5s at 99, the 6s of the company at 1023, and Railway general 6s at 1021, g The local market will resume Sat- urday trading (omorrow. Merger Report Denied. Reports that the North American Co. was seeking control of Southern California Edison and Pacific Gas apd Electric were denied by President F. L. Dame of the North American Co.. Who sald his company did not own & share in either of the properties and did not contemplate seeking any in- terest in them. Seeks Large Bond Issue. The Arizona Eastern Railroad sought permission from the Interstate Com- merce Commission today to issue and sell to the Southern Pacific Co. $15,891,000 in 5 per cent bonds. The funds would enable the rallroad to pay the cost of present construction projects and to reimburse its treasury for expenditures on additions and bet- terments. Bankers Praise Convention. The Washington banking situation resumed the even tenor of its way this morning when the delegation at- tending the annual convention of the American BankerY' Association at At- | Jantic City checked in. All agree the meeting to frame a protest against the proposed amendment to the con- ctitution which would require all cor- porations, whether native or foreign, operating under Mexican law to be managed by Mexicans and to have a majority of Mexican capital. EXTRA SUGAR DIVIDEND. NEW YORK, October 2 (#).—Holly Sugar Corporation declared ah extra dividend of 1% per cent toward ac- cumulations on the preferred stock in addition to the regular quarterly dis- bursement of the same amount, both payable November 2 to stockholders of record October 15. —_— NET INCOME REPORTED. NEW YORK. October 2 (#).—Net income of the United States and For- elgn Securities Corporation for the first eight months of 1925 amounted to $2,773,031 after Federal taxes. Total assets were $22,738,990 and surplus $2,363,000. DIVIDENDS. Corporation. tlantic Ref. ron uets. E I (Brj.. re; & ®. Firest T& R 68 pt I lucts. 2w tH) 2 anseTptaet GEELEEECEELE 288 Nov. 76 Nov. 1 % sid Sept. 30 &2 | bulk, conclave was productive of much con- structi banking thought, but eon every side was heard many unkind remarks concerning the plethora of mosquitoes on adjacent golf links. - CHICAGO LIVE STOCK MARKET CHICAGO, October 2 (United States Department of Agriculture).—Hogs Recelipts, 19,000 head; mostly 20 to 40 lower than Thursday's best prices; bulk good end choice, 140 to 225 pound averages, 12.70a13.00; extreme early top, 13.15; desirable 240 to 325 pound butchers largely, 12.50a12.80; packing sows mostly, 11.00a11.35; few strong weight killing pig: 12.26a12.85; heavyweight hogs, 12.30212.75; me- dium, 12.45a13.00; light, 11.75a13.00 light light, 11.25a13.00; packing sow. 10.60211.50: slaughter pigs, 12.00a12.85. Cattle—Recelipts, 4,000 head; gen- erally steady trade on most killing classes; bulk beef steers of value to sell at 10.00 downward, largely 7.00a 9.50; load long yearlings, 13.76; me- dium weight at same figure; Dakota grassers to killers, 7.00a8.75; grass heifers dull; canners strong; vealers fully steady; largely 13.50a14.00 to packers; few very choice kind, 16.00. Sheep—Receipts, 13,000 head; fat na- tive lambs strong to 25 higher; early 16.50a16.75; some held higher; few medium to good fat range lambs, . best held above 16.00; feeding lambs strong to unevenly higher; string handyweight, 15.75; fat sheep steady; odd lots fat native ewes, 6.50a7.50. s RAIL EQUIPMENT ORDERED. NEY YORK, October 2 UP).—Equip- ment orders involving $332,000 have been placed with Bethlehem Shipbuild- ing Corporation for 10 all-steel combi- nation passenger and baggage cars for the Chesapeake and- Ohio and 25.steel underframe cabooses for the Hocking Valley Railroad. :