Evening Star Newspaper, December 8, 1925, Page 30

FF STOCKS SELLOFF INFINAL TRADING Quite Extended Losses Take Flace in Late After- noon Session. UART P. Special Dispaten 1o The . NEW VORK. Decemie Ac selling toward the close of the stock market today reduced many of the zaine made earlier in the ression, and in some instances the losse. were ;\‘m:‘ cient to cairy prices down below Where ‘they dlosed on Monday. The muiket was quite active in the late alin Slo higher Warner. especially BY WENT. sta : Sheflield surpassed its former for 1925 amd so did Stewart he rise in the latter was noteworthy. Devore and Raynolds, Man n Shirt, New York Canners, Texas and Paclfic Land Trust. Pacific Coast. Consolidated Cizar, General Asphalt common and preferved, Vu Detinning pre- ferred, which added several points to its advance of 98.8 points on Monday, nd Bush Terminal exceeded their vresious tops for the year The rails kept quite though th ¥ Tess than they week ville and ouri T Pennsylvania. Northern Pacific and Nashville, Chattanooga and St. Louis touched new Norfolk and West ern was strong Utility Stocks Aside from Philadelphia Co. and American Water Wor veral other Dublic utility stocks were active and strong. The most conspicuous was Blectric Power and Light certifica which had closed on Mond and shot forward today. Tr memboring the way the vanced on previous oceasio o explanations, while they were quick to bid for it. Montana Power was another favorite in the public utility group, and so was Columbia Gas The al- prominent Louis- Pacific, Active. irregular but motors pursued course. They started in later turned reaction broke below 220 and Mac heavy an higher, can Can Weak. an Can continued in supply. ound from the outset. The helief persisted that nothing would be done abowt a recapitalization at the forthcoming directos meeting. Marland Oil fell bee sharply. then rallied. It was expressing uncertainty what the board of directors af meeting late today would do | dividends. An extra disburse. ent had been anticipated International Paper was bought and Tnited tes Industrial Alcohol, which has had a bad break recently ecovered somewhat. Bosch Magnet wus helped by the rise in Stewart Warner MARKET CLO: fosing S STEADY. e Setback in Hour Trading. NEW YORK, December § (#).——The closing was steady. Railroad shares received another setbuck from profit-| taking in t 1 hour, and Schulte Stores also was hammered down. The | strength of other issues was fairl well sustained. American Smelting a vanced to 128, the highest price in about 20 years, and gains of 3 to 4 points In« Tuded Hudson Motors, Amer- | ican Brake Shoe. General Railway Signal and United Rallways and In.| vestment. Sales approximated 2,100, 000 shares. Rising reflected Rail Shares Rec Last ock prices early in the day Wall Street’'s response to | Coolidge’s message to Con- | hich he predicted continued prosperity. u prompt legislative | action 1o reduce taxes and recom- Jnended plans Yo expedite railroad con- solldations Markets at a Glance W YORK (®).—Stoc utility shares strong. firm; speculative rail h s steady: piiblic sonds advane Foreign anes r Cotton crop report ugar easy ing Coffee higher: CHICAGO. Whe w0l cablos Corn barely stead; ‘atide lower, VIRGINIAN VOTES $6 CIVIDEND ON COMMON sues exchange eas I'rench bearish Covernment Cubzn and European hearish good weather By 1 NEW YORK the Virg per 8. —Di an Railway to- lved an annual dividend of $6 the common stock. the wteed under the proposed rvoind to the wiolk and Western Railway An initial dividend of 84 u share this issue de clord in 1 nd 4 payment of ihe ame amount also was made in De. cemi st year. The new dividend is December 51 1o holders of record December 21 SCHULTE STOCK SOON TO PAY HIGHER RATE YORK. December 3 (P).—Di ulte Retall Stores will lace the conmon stock gher dividerd D. A president. annovnees. The ni raie is $8 annuaily, payable in \d stock, but ihe increase. he would be in ¢ "he busines company Air. Schulte would be the larzest on record, nings prowmising to exceed §12 on the common stock e day de 1 share ate gu lense of on NEAW basi add. ¢ th ided with ea a share DAIRY PRODUCTS. BALTIMORI, Md., De: cial) e poultry —= pound, 20a30: Leszhorns, Minorcas, old hens, roosters. Logi ks, 1322 tarkeys. 33: pair, N5 o 101N (Spe nx chicken: Tals: old seesc ol 3 poor and pigeon: il e Dressed poun puns. 2 zeese 7S cases dozen, offered 6 ey old, eys, voung. 35 chickens, 30; ducks Receipts, ind nearby firsts, 0a52: candled, Rutter— od pound, 46ad1: 4ladl store prints, butter, Rabbits fair to good, 2.00a KEROSENE IS HIGHER. NEW YORK, December 8 (®).- andard Oil of New York today announce an advance of half cent i Zallon in the tank wagon price « kere ne, effective today through New Vork and New England. The newl| price Is 15 cents a gallon old at [ prints, packed 1 844 ‘reamel lad’e: dair process 3.00a4.50: FINA NCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Open. Hixl T 0 106% 106% 174 17T Abitid) Pow (4) Adame Exp (¢ Adv Rumley Ahumada (11) . Alr Reductn (15) Afax Rubber... . Allled Cham (4) Allfed Cm pf(7). Al'ta Cralm (8). Allls Chal pf (1) A Agricul Chm Am Ae Chm pt. Am Bank N (18) Am Beet Sug(4) Am Roseh...... Am Prk Shoe 81 Am B Shoe pf(7) Am: Brwn Bov. .. Am Can ity Am Can pt (7). £m Car&Fay (§) Am Chawn A (2). Am Chic Am Chiclectfs.. Am Drug. .e.... Am Express (8) A1 & For kow Am& F Ppf (1) Am Hide & L pf Amce (8).... *m Internat Tia Fran (11 LaFra pt(7) Linseed. . T.oen (118). Metal (4). .. Metal pf (7) tadiator (4) Ry Fap (8). Republic. : Ship&Com . SmaRef (1) S&Rpf (7). Sti Fdya (3) Suzar (5)... S.marra Sumatra pt Am Tei&Ca (5). v Te'&Tel (9) Am Toh=ceo(19) \m Tobac B(19). Am Tebae pf (6) Am Tvp Fdrs(8) Am Trpe pf (7). Wkt Waolen A Woal nf (71 Am Writ Pa ctfs amZine. .. Am Zine pf Anaconda (3. Ann Arbor pf. .. Archar-Danteln Armour.Tl! pt(7) Armour Tl A (2) Armour.Iil (B).. Arn Cons&Co. Arnela Con ctfa Artloom (75¢). . \ss0 Dry G(2%) Ax%0 011 (2).... Atchieon (T).... Atchison pf (5). At] Birm & At At Const L (18) At Gult & WT. At Gulf & Wt At'antie Refine Am Am | Atlan Ref pf(7). Atlas Powdr (4) Atlas Tack.... Anstin-Nichnls | Auto Salespf... Baldwin L (7). . Bulto & Ohto(5). Bang & Ar (3). Parnsdal'A(50c) | BarnsdailB(50c). neech-Nut (13). Felding Bros(3) hiehem Sti. Rriges MIg(1%) BKkI Edison (8)... Rki-Man Tran. . Rk-Man T pf (6) Bklyn Un G(t11) Bklyn Union rts Brown Sboe (4)- Brunswicx-Balk | Rurns Bro (10). Burns Br B (2). Bur Add Ma (3). Bush Termina Bush Ter de (7). Butte Cop (50¢). Butte&Super(2) Butterick. “uddo Centr: | Cal Packing (8). Callf Peint (2). alluhan Zine. Calumet & Ar ( Calumet & H (1) Can Pacific (10). Case Thresh pf.. Cent Leather. . “ent Leather n* Cen RRofNJ 112 Fentury Rib (2). Cerre De P (15). Certan +*handjer (3)... Chees&Ohio (4). Chi & Alton. ... Chi & Alton pf ©ni Great West i Gr West pt Chi Mil & StP. “ni Mil & StP p? . MI'&SEP Pt efs Chi & Nwn (4).. Chi Fneu T (5) Cni R 1& Pac CRI&PDL(S) CRI&PPI(D). Chids (32.40) .. rile Cop (2%). Chino Copper. .. Chrysler Corpn Chrysler pf A(8) 126'% 4ty +8 100 67'2 343 20% 225 108% 6815 162% 38 81 P 524y 79 136 131 18% 59% s Coca-Cola (7). "ol Fuel & Iron Col G & E (2.60) Com Inv (2.50%.. Coni Solv A (4). Com Solv B Congoleu! Consal Clgar ... Conxol Listribut Consol Gas (3). onso; Textila ontCan 14).. Cont insur (6)... ont Mot 180¢) < orn Prod (2. Caty, Inc (3.80). Tucibie Sti (4 Cuba Cane Su.. Cuba Cane S pf.. Cupa Co (4).... Cupan-Am S (2) Cuoun Domin. . Cuban Dom pt. . - udany Pg (73 “Sshman’s (3). ayzmel Fr (4) aniel Boone. Deere&Co pr(5). el o Hhud (=) Dei 1. & Wo (17) DRG Wstpf.. ciroit Ed 18). Oevoe & Re Acts Doare 1ron Cl A udre pf a7y, cmie Mines © DulS S & Atlan. Dupont deN(115) DuFont deb (6). sustman (18) witon Axle Clec rows P&L pf 40% (T) oo Lpf ) o ae U Bat (4) ik Horm. ... ~uunerson Brot. Luumerson B pf .ud Jonn (k) rieRR ... krie Istpf. . Srie 18t pf ctfs. . rriezd of. urekn \luxum 1104 334 Y14 100 23 110 1475 17 41 82 215 Famous Pl (8) 110% Federal Lt *1.40 2d Min pf () #.zher Body (> sk Rubber Kisk I 1St D) ischmann 13 . Foundation (%) Foun Frrgts. ... Fox Film A 4. Freeport-Texas. Gabriel A (2%). 11 1481 137 4 B2ia 21% 3 1% 106%7106% | Gen Am Tnk (3) 17% 9 112% 10% n 121 91 108% 27% RO 109% 33 11 1440, 1745 40 82 20% 83 71 17% 9% 112% 10 12°% 121 91 1084 2T% 81 200 235% 102 109% 24 304 1074 P Toly 14315 174% 41 82! 20% 35 HE Oven. High. Low.. Closs. | Garduner Motor.. 52t Cen Asphalt.... 631 Gen Asph pf (5). 104 Gen Cigar pf (7) 108% ien Cigar «8)... 103 Gen Klectric (8) 322% Gen ¥ apec 60~ 11 Gen Motors(112) 121 Gen Mot uf (7)°. 114 Gen Outdr Adv.. 284 | Gen Outdr Ac4). 511, Gen Petm (3)... Gen Ry Sig (w 1) imbel bros. . Gidden Co Gold Dust. . Goodrich Ru (4) Goaodyear pf (7) GGaodyr pr pf (3 Gould Cou1.80) . Grinby Consoi Grt Nortn pf (5) Gt Nor Ore (1 Grt Watn Su (8) Guantaname. ... Guif Mo & Nor nM& N pf (6) GGuif States S (51 Hartman (2%). Haves Whi #1314 | Helm Geo (16%) iHoe & Co'A (4, Household P (3) Houston Of1. . .. Howe Sound (2). Howe Sound rts. Hudeon Mr (21, Hud Man pf (5). Hudson Mot 3 Hupp Mot (1), Minets Cen (7Y 111 Cen Isd 1i (4). liitnotc Cent ris ‘nden Of (1) Ind Motrey (50c) Indtan Refinine Indian Refg ctfs Inland St (23%) Inspiratio (3).. nterub Rap Tr Internat Agrl. . Int Bus Mac (8). 165 Int Cement (4). 71% | In Cement pf(7). 104 m e e (3) 864 Inter Har (3).... 127 nt slarne. 9% Int Mer Marof 38 Int Nickel (23 4 Inter Nick pf(6). 101 tnt Paper.. Gty Intl Taper pf (i) 98 Tnt Ry Cent Am. 27 Int Shoe (8) ntie & Teo 161 116 Intertype (11%) 264 Jewet Tea. . Jones Bros Tes Zordan Mut (3) <an City Soutn Kan CSopf (4). Kayser J (3).. iTeliv-Sprin Kelsey Whi (6). Kennecott (4)... Kevatons T & R Lee Tre& Rub.. 14 | Lentgh Val (3%) Rés Lehn & Fink ctis 39'5 Lig& My B (14) BY'n Lima Loco (4).. 7% Loews ine (2). Buty | Lott Tie ons Bell A (4 51 “ortliard (3).... 36% Covietana OML. . 176 ToulsGas A 175 21l Leuts & Nop (6) 134% Cudlum (2. 36 McCrory P 34.6 Vcintyre P (1). Mack Trucks (6) 218% Magma Cop (3). 43%n Malltson & Co. .. 22 Man FI Sup(4%) 51% Man-Elev gtd... 84 ManEmd g (5). 44% Man Shirt (13). 33 Manlla El (2%). 34 racaibo O 251 rket Street. 8 Market Storlor. 43% Market Stpf.. . 26 \arket St2d pf. 13 variindOf (14 587% “artin-Parry(2) 21 tratin Bock (1), 29 Mathieson (4)... §8§ v Dept ST15) 1254 “aytag (50¢)... 221 Vexican Seabd.. 104 Aiami Cop (1). AfO-Continnet Mid-Cont pf (7). \tldie States. . AN St Propf +10. Ainn & St Louts. Min St P & SSM. Mis Kan & Tex \o. K & T pf (5) iszonr! Pacifie. | uissovri Pac pf. \tont Power (43. 65% 105% 1057 106 69% 1o 28 118% ki 3t 200 134 128 44 264 294 22% 15% 50ty 48% 61 41% 16% 113% 54n 24 “fother Lode \oter Met :3.&0Y \fotor Wheel «2) Mullins Body . . Munsinzwr (3).. Murray . £2.401 \ash Mot (116) Nash pf (7) Nat Acma (& Nash & Chat (7). Nat Bfscuit (14). \at Cloak (4) . Nut Cloak pf (7) Nat Dairy (3).. t Dpt Stores. . Nat Distillers. .. Nat Distillers pf Nat Lead (3). .. Nat Sipply (3) Nevada Conper. N O Tex & M (1) Nwpt U Gas (5). Nt N G&E pt(7). NY Awr Brake(2) NYAIrBra (4) N Y Carners (2) N Y Cenrral (1) NYC&StL (6)... N YC&StL pf (8) N ¥ Dock. . ¥ N H & Hart. N Y Cn&Wn (1). Niag F pf (1%). ! Norfolk South. . Norfk & Wn (18) | North A (B3.40) | North Am pf (3) { North Pac (6)... Norwalk (1.60). 011 Well Supply . Ounyx Hosiery. . . Onyx Hos pf (7). enkelm (3).. Otis Elevator (6) Otis Steel....... i Otis Steel pf.... Outlet Co. ... Outlet Co pt (7). | Owens Bot (t4). Pacific Coast. Pac Coast 1st. acine Gas (8).. cific Oil (3).. | Packard Mot(2). Pafge Mot(1.80). “an-Amer (.. .. an Aner B (8). Pan-Am W(30¢). ‘anhandie. Park & Tiiford athe Ex A (€3) ennas 12 R (3)¢ ! Penn-Seab Steel iy PeoplesGas (8). 11315 Peoria & East... 19% = Marg (4) | 1%he Mar pt (5). vere M prior(3). vato (4)... iPhlla & RCXI Philps Jones (2) » Morris 3). Phillips Petrsts Vicrce-Arrow. 8 ierce Of} pf ! Pierce Petrol. . Pitts Coal.... Pitty Ut of 11.20. PittsU pf n(1.20) Postum (m)..... Press Steel Car. 7 527 644 104% 108% 103 224 1% 121% 114 28% 514 53% 76 7% 524 624 104 108% 103 318 11 119 14 8% b1t EVENING STAR, WASHINGTON, D. |PRIL‘ES HOLD FIRM 7 52 \ 63 104% 108% 103 3194 11 119 14 ZIK % 5 | Ll BY GEORGE T. HU 241 | Special Dispateh to The Star. 47 | NEW YORK. December Large Number of New Issues Now on Sale. H 1064, P 108% | tions inbonds of any great importance 19% | The 21| 8! distribute listed, the 981, | have 5 | Sonre a4% | bought yet to be of these hnd sold finany not vet over te price. There was no weakening of ;‘ j{ ply fresh faster t . {them. % | loans have been For seasoned foreign 26 I there was some reaction in the o -up on Monda Brazil 78 were exceptionally in Br the 7 per cent bond has offered tl largest yield among the direct obliga | tions of the republic. | | The feature among the speculative | rails was again the Chicago . which, on large tr: ossed 52, and at one time w poiit and a half. The report persisted thiet this road would be included in t pronosed Loree svstem. 3 B0 B9 ‘9 98 18274 1613 100 40 LTI L6% 48 45y 46 46 Tl % 170 169% 124 KT e 29% 40% 59 19 109 154 581 934 10 9274 R Lrod & Refiners | Pub Ser NJ(5) . 1% | Pub Se &G 1nf 6 104% 1 Pullman Co (8). { Punta Aler Sug. | Pure O11 (134).. | t2adio Corv of A | Radie Cnf (3%) RSICefs (4). Wy StiSp (110). itay ons Cop. . eading (4). Reading rts. | Reading 18t (2) Readime 2d (2). feid lom Cm(3) | itobt Iets & Co. . | Remington Type Reploxle Rep Ir & | Rep 1& 8 pf (T). ! heynald= Sprags ey Toh B (3). Rossia Inn (6).. RDNYal73% St Joseon L(13) Stl. & SanFr- 7) StL San F p2(6). St (, Southwest 15 80 95 162! 40t 267 18 08 StL Swn pt (5) 7 TT% 81! 122 Savaze Arms. . | Schulte (85 Seaboard Alr L.. Senbd Alr L pf. | Seara-Rehk (6). | Seneca Copper. . Shattuck-Ariz. . Shell Tn (1.40) cinmons Co (2} Simmyr Pet (1), Sinelair 00 Stuclair pt =) H o (2) heff (8 | South Port S ¢ South Pac (6). .. Sauthern Ry (5) Sauth Dy ont (R) Spaulding pf(7). Spear & Co.. ... Spear&Copt(7).. 228! 10 Stand M (5. . SeON Cane (2y SEONNT (1), StonNJnfr (7 Sta P Gle StewartWar(16) Srramhare (RY Studebaker (16). | Suhmarine Boa: | sunofl (1) Superfor OI1. Sweets ofAmer. . | Symineton. .. <ymineton A(3) | Tenn Capper (1) | Texaa Co i3y 9 | Tex GulSul +83% | Tex & ParC&O Tav & Pacific Tex Pac Ld Tr. ! The Fair (2.40), Third Avenne. . ~de Warer (1) | Tide W O] of (5) Timken Rol (4) | Tahan Ommd £ 2 | Tobaceo Prort-. Tob Pred A «i) ~rarmes .. O1 Twina Clty pf (T) 106 10 185 | Underwood (t4) 71 | ''nRar & Paer. 75 | Cnion Of1 (1.80). 100 | “n Pacific (10).. 77 | nPacific pt (4) 74 | Ctd Alloy Steel. 33 | UtaClear(®3% ). 74 |Utd Cigar Strts. nited Drue (7) Tt Wrufe (16 Utd Papbd (30¢) Utd Ry Invest. .. td Ry Inves pf. | 178 Cast Iron P. 8 Distributing S Hoffman (3) Ind Alcohol. U S Ind Ai pf(7) U.S Realty (10). i3 Rubber..... US Rub 18t (3). £ S Smeiting(3) U S Steel (17). U S Steelpt (7 'miversal Pipe. . Uvi Pipe & Rrts. Cui P&L A (35, “anudinn (2).. Va-Car Ch(n)w 1 Va-Car Ch (6) pf Va-Car Ch (7) pf ‘a-Caro Chen: Va-Caro Ch ctfs. Va-Caro Ch pf.. a-CarCh pf cfs. Vivaudou 4 Wabash...... wabash pf A ¢ waldorf 0%). Ward Baking B Warner A (1%)- Warren Bros(4). | Weber ¢4)....ue West Pen (4)... ‘West Penn ctfs. WestPenn pf cfs. | W PaPow pt(7). et Murytand. West Md d pf ... Wester Pacific. i st 1’ac pl (68) \\ est Union (7). | West Air Br (6). wrnghw ¢4). . \\ eston Elec - Weston A (2). | Whee! & L Erls. Wheel & L K pf. White Eagle (2) White Mot ‘4).. White Kock (12) Wickw! W filys-Overid w myvOd »I(D woolworth (3).. 2 worthn Pump. . wright Aero(1). ye! T & C (75¢). ) ounsstown (4) 74 165 ATl | 184 184 105 109 24% 424 2% 17% BT 19 464% 96 118% 118% 07 108 > 19:¢ 291, 297, 51 2T 87 33 21 2534 12314 203 15 277 30% 53T EELEoE e e o basea on the itest auarterly OF half vearty Unless otherwise noted. dends_are not ineluded. ™ Paid thia wear- g rorular rate. Py oal o 'Partly stock. oxtr 1.h|e in nrelema -mk ‘1- in stocl declar-tions. ayable 1% rier]; #lock arable 1% % ‘auarter IN BOND MARKET Trading Under Influence of 8.—Only in 5% | 1solated cases were the day’s fluctua- | market as a whole was still un- der the Influence of the large number ,‘{..r new issues, mostly foreign, which but counter, were offered by dealers below the syn- confi dence in the foreign situation but sim- coming | n the market could absorb bonds { prices were firm as a rule, although rench group which had such u remarkable . within a fraction of their high record zil 8% 15 80 o | 4 exira or special dive Pl E !;llu Sales. Lib3%s... 107 Lib1st4ys 14 Lib2d 4%s. 394 Lib3d 4%a 312 Lib 4th 44y 222 US4s1944. 112 1031 USd%s'52 39 1061 FOREIG 100 2 101 4 1022 Argentine 53 cee Argen 6s.Ju'b3. Argan 6s Oct 69 Arcentine 6s A Argentine 6s B. | Arcentine 74 Austral'an (s . 08 Austria 7s. ees 13 Rank of Chile 61s. 48 Rank of Japan 1 Relzium 3 zium 6% s Releium Ts. .. Selginm T%s Relgium 81 Berie 8s . “tolivia Sa. .. Rordeaux ¢a. Arazil 78 mrazil ~anada fin 1953 Canada 5%~ 1929, . { ~htle 7a 1942 | Chile 84 1928 | Chite ns 1941 | Chile 8= 1946 | “hinese Gov Ry Sa | Chrirtiania 8a.. . Con Pow Japan Ta Copenhagen 5% Cubn 5% ... 3 ~zecho 8m 1961 .. 40 Crecho #s 1952 ot 1 Danfeh Munie 8s B 4 Nenrmark 6 . DETE6%s Mch 53 DFY5%s Nov ‘53 Cuteh East T 68 Dr.coh East T 6e 62 I Salvador 8s'48. Finiand s f 6845, Finlands 7s French 7s.... French T4%s. . Freach 8= {German E1 P 6ls. Serman Ta.. . Ger Aer Bank 7s.. | fer Gan Elec7u. . 21 s 51 17 9 14 e. d. he | he % Hol'and Amer fnneary 61 5 fananese 4s. TapAnese 4., ... Lyons 6 . Mursetlla B Mexico 4% ‘04 asnti Cetheriards e ‘54 etheriands 6% ‘72 | Nora 63s. . !\orwav 5%s. Norway 6s 1742 | Norway 651944, 15 . | Norway 6s 1952 . 1 aris-Ly's-Med 63 175 26 Poland 6s°40. ... oland is “| Porto Alegre 8a. . “vragne7%s. L ' | Queenslar.d 6s.... Rio de Jan 8s 1948, % | i Riode Jan 8s 1947 x| Rio Gr Do Sul &x. Sao Pauio State fx tiz | STof S Paulo rets | Saxon P W 7s.. | Seine Dept ~ Serbs Cro* S'o &8s " |sweden syt | Sweden 6s. Swins 5% 1946 Swiss Confed 8s.. Tokio 58. Ud Kingm 5% *2 | Ud Kingm 5%n "3 Ud Steam Copen 65 Uruguay 8s..... Zurich8s... . MISCELLAN Am Agr Chem 7'5e 19 ! Am Chain sf 6533 |AmSmit& R 1st5s Am Smit & R 65. | Am Sugrefes... . {AmT&Tcltrés.. AmT&TeltrSa {AmMT&Tsf5s. {AmT & Tdebilis Anaconda 1st 6s Anaconda cv db | Andes Cop 7s rets Armour & Co 4348 Armour Del 5%s.. Associated Ofl 83.. Atlantic Refin fs Barnesdali s f8s.. Bel: Tel J'a 58 B.. Bell Tei PabaC Beth Stee! Beth Steel r | Srier H St 18t 5% Hk yn T4 gen 58 | Bush T Bldz 58 '60. ©one Fete 6333, Cen Loth 6345 cts Chile Copper §i . ol (ias & El 58, Col Gas & El 68 sta Commeonwil P 63 Con Coal Md 1st is. Con Gas NY 5% Consuiaers Pow 58 { Cuba Cane cv 7 Cuba Canervd8s. Denver Gas5s..... | bery (DG) 78 Dodge wibs..... DuqL & P 514849, | Duguesne Light ! Ext Cuba Sug 7%, Empire G & F T%3 Fisk Rubbe: 83 . Goodrich 6%8. Goodyear 8 1931.. 62 Goodyear 58 1941.. 14 Hershey 5% eeendld Hoe & Co 6% s Humble O & R 5% 12 I1linols Be:l 13t 63. Uilinois Steel 4% indiana Steel 53 Int Mer Marine |KCP&LLERA'S2 26 Kan G & E1 b3 5. Kelly-Spring 8s. .. Laclede G 5%s8 '52. Liggett & Myrs 7s. ! Lorillard (P) b | Louisv G & E5: Muna:i Sug sf 7%8 Mid-Con 6%s 40 Midvale Steel 5t Montana Pow - | Mor's & Co 1st 448 Nor States Pow 6a. 9tis Steel THe. . Atin Steel 35 | racinic Gar &4%1 53 Phila Co 5%8 Phila Coref 68 A. Poila & RAC&T6s Producers & Rf 83. Publie Servic Pub Serv Elec P ServGas 5% PServGassl Rog Brown Iron 7s. Sinelatr Gl Sin Crude Ol Sin Pipe Line & Skelly Ot 6%s. South Rel! Tel 5=.. | So Por Rico Sug 7s. Southwest Bell 58 100 Sug Est Orfent 7s.. 13 Tenn Eiec Pow 15 Toledo Edn 13t 7s.. 2 Sales. Hixh UESDAY, (oo BONDS Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are in $1.000.} Hir 9y 28 101 25 h. Low vo 21 101 25 3 100 20 101 2 102 138 1 106 N. 6% 964 961, 96% 96% 102 9714 100% 95t 100 86% 937 964 265 95 95% 96% 96 101% 97 99% 95% 997 56 938 95% 109 1071 107% 96% B3 £8 1004 10314 101% 101 102% 108 109 110% 90 9874 101%) 100% 101 108% 1034 1014 101% 104 1031 105 4 *8 96 a0m 4814 1027 £7 100 94’y 1015 105 1035 1163 66 5 1181 10474 914 110 1077 EOQUS. 1014 102% 98 98 gs8, LRl 107'% 1067 102 1010 165 i L0% 947 1024 LIvEN 1055 10100 1005 101 1005 1097 102 ude yi% 100% 105 98 v8% 125 DECE Close vy 23 161 25 100 20 1012 102 163 1 10 105 10 Low. Close 1084 1034 101% 101% 103% 1034 1064 584 sots 1067, [N 46 100 108% 1001; 977 991 | 1014 924 100 Ebl4 102% 101 102 an | 105% 974 10 % 1097% 102 9444 EEN 1003 105 9814 1005 | K7 1214 101 105 0014 9ty | 1024 1083 MBER 8, 1925. STOCK EXCHANGE ' | Unfon Bag & P 6 | United Drug 6s.. U S Rub 1st rf U S Rubber 73%s. U 8 Smelter 6 U S Steel 5 £ 58, Utah Poy' & Lt Gs. Va-Car Chem 7s Vertientes Sug 7s. . ‘Warner Sug 7s°39. Warner Sug 78 '41. Westn Unlon 6 %s. | Westinkhouss Willys-Ov 6 33. Wi lsqn & Co 1st Winchester A Youngstn S & T RAILROAD. Ann Arbor 4s. .. K Atchison ad) 4 Atchison gen 4s. .. Atlantuc C L Atiantc C L 7s. . I & O Gold 4 B&Ocv 4%, B & Oref 5 B&OIstbszt.. B&O B&OTt H'llp 2 B & O PLEWYV 4a.. &0 Sw DIv b ofs. B &0 Toledo 4s. .. fkiyn Manbhat 6 Euff R & Pitc 4343 Can Nat 41%s 30 Canad North 7 ~anad Pac deb 48 ar Clinch & O ““entral Pacific 4s. . Cent Pac 1st 6: Ches& Ocv 4% 2 Ches & O gn 4%, 1 Ches&Ocvbs.... 173 Ch1 & Altou 34s. . 251 Chl & Ait 3%sctfs. 42 Ch! B & Qgn 48 '58. B& Qi1strfbs. CB&Q-TI3%s... CB&Q-Ildivds.. Chi& ETgnbs.. CRi Great West 4. C©M& Puget Sd 4 CM&SUP 4828 CM&StPdbda. . CME&SP deb 4s 34 cf 2 CME&SiPevals 125 CM&SPev 415832¢f 83 CM&StPrfays CM&StPevba CM&SPcv5s Jdcfs CM&STPes. L. C&N W gends.... Chi& N W 6%s 14 1% 107% 503 87 8T% | 94% 102% 4 100 13 S0% 9974 9% 103% 100% | 107 96% M RI1& Prfl “hiTH&SE 5 ChiUn Sta 434s. . hi Un Sta 6s. . ’h1 Uniop 5ta 5 Chi Bn Sta 6% s hi & W Ind cn 48, Ca&WIb%s ©CC& StLss CC&StLrfesA Cleve Term bs. Cleve Term b Colo & Sou 4w Cuba R R 1%e Cuba N R 63 66. Del & Hd st r1 4s. Del Hud cv 58°35.. Del & Hud 53%s. .. Den & Rio Gen 4s. D & Rio G tmp bs. . D& Rio G Wst 5. . | Erte 15t cons » i r'- gen 4 T4 k.»pconv 4sD. Erie conv ext 7a. I’rie Ganessee R 68 | 5r Trunk af db €. | Grand Trunk 7s... Girest North 5s. .. Great North 53s. . r North gen is... Green B& W db B. Havana ERL&P '50 Huo & Man rer 5s.. Hud & Man aj 5: 111 Central 5%s. ... | 111 C-C St L&NO 63 | int Rap Tran 5a Int Rap Tr 6% stpd. int Rap Tran 6a. Int hap Tran 7s. Int & G Nor 1st 6s. int & G Noraj 6z.. Towa Centrf 4s.... {an City FtS 4 {ansas City S 3s.. KansasCity S os... Lake Shore 48°28.. Iake Shore 4s ‘31.. | Lenigh Vaicn éa.. Lehish Val 53 2003 | Louts & Nash 54s. Louis & Nash 7s. .. Manhac Ky cn Man Ry 2d 4s Varxet StRY 78... il £ Ry & L 63 M & StTLastrf | M1 St P& SSMen 4s AL StP & SSM 634s. MK &T Ist a MK&T4sB... i K & T ady b MK &Tprin MK&T6sC. 102 110% 4% 1027% 100 €% 70 90 1037 T4l Vo Pac 65 49 | s~ pac 6s 55 B NO7Tex & M in bs NOTexa MbsB. INOT&MBR=.... N Y Cen gen 3 . N Y Cent deb 4; N Y Centribs.... N Y Cent Aab 6s. .. INycnigstLens NYC&StL New Hav deb 43°58 Now davd 57.. New riavencd 6 N'YOntWlst4s.. N Y llys68’'€b.... N Y State Ry 4%4s. NY W & Bos 4%s. Norfolk & W cv 63. Northern Pac 4 Northern Pac 58 D. Northern Pacr16s Ore Short L ref 43 Ore-Wash 1strf 4s tennsyl gen 4348. . Pennsy! gen bs.... ! vennsyl 58 Pennsyl 6% Pennsyl gol Peoria & E inc Pere Mrq 1st 4s '56. kere Mara 1st 68 Rmid!nl: gen 4s. ReadIng gen 1% Rio G W 1st 4s. i Rio G West cl 45, T RTArk & L 4%s. ! StL IM&S 48°29. | StL 1M&S R&G SLIL&SFplisA |StL jstL |8t ; st St | SUP Un Dap fs. Seabd AL 4s. .. | Seaba AL 4s sta Scabd A L adj 68 ’ Seabd A L cou és. . | Sou Pacttic 4529 | Sou Pacific ref 4s.. southern Ry gen 43 Southern Ry 1st b Southern Ky 6sct. Southern ky 6%4a.. = | Sou Ry Mobtie 43. - Term Asso St L 5s. Texas & Pacific 1st | Thirg Ave ref ¢» ‘Chird Ave adj ! Union Pac 1st rf 43 Gnion Pac 48’27 Union Pac cv és. | V:iretaia Ry 1st5a 125 Ry&Pistta.. 13 ! b>ash 1=t by | Wabash zd 6s..... | Wabash a8 75. Western Md 48, | Western Pasific West Shore 1at 4s. Wiikes-B&E 1t b Wiscorsin Cent 4s. 1 ANCIAL. Congréss Greeted By Wall Street With Stock Ris By the Associated Press. NEW YORK, December Sivet has rarely found occasion to celebrate the convening of a new | Congress with a bull market, as it did vesterday. Usually the gather- ing “of legialators at Washington has been the signal for selling stocks, because of uncertainty re- garding the adoption of regulatory measures. certain to entail many ajustments of busine: The program of the Sixty-ninth Congress, however. with its prom- ise of a $325,000,000 reduction in taxes and legislation to hasten railroad consolidation, wed as unusually constructive from a | stock market standpoint. | AFTER POOR START Poor Liverpool Cables Cause | Sethack—Corn Easy: Oats Firm. ! By the Associated Press. CHICAGO, December §—Unex pected weakness of quotations at | Liverpool, together with the new Ar- | gentine estimates, widely | variance from some that were ¥ terday put forward, led to an early {down' turn tod in wheat prices {here. Today's estimates figured the | Argentina exportable surplus as 135,- | 000,000 to 140,000,000 bushels. On the | {other hand, announcement of addi-| crop at] | tional vessel charters to move wheat {from Chicago to Buffalo bring about price rallies. ing. 34 to 214 lower, new style, De- Gember 1781 “to i79% and May | 36y to 1 .41.., was followed by up- | 'unm that on some transactions lifted | | the market to the same s yesterday | finish. | Corn was easy, sympathizing with | | wheat. Besides, reports were current that a majority of elevators here were | making contract corn due December | delive After opening % to 1 off, ! May 833 to %3%, the corn market | recovered most of the decline. | Oats were relatively firm. Starting 10 'qa?s lower, May 45!z to the market scored slight gen- | eral gains Scattered buying gave something n upturn to the provision market. WHEAT— High (new ) 1764 toid. 17 5 1 tended to The open- | Open Low. 12k i | | December i | May e N (ST. PAUL RAIL DISPUTE ! NEARER SETTLEMEN | _NEW YORK, December 8 (#). | Some progress was reported from a | | to the Kuhn, Loeb & Co. plan for re- | organization of the St. Paul Railroad {and representatives of Kuhn, Loeb & { Co. and the National City Bank. No compromise was reached, however, it | | was announced. Mr. Jameson assert. | |ed that the terms reached were not satisfactory to him, as they were only {a “slight improvement over the orlg- inal plan.’ GRAIN AND PROVISIONS. BALTIMORL. Decembes § —New potatoes, 100 pounds, 2.00a beans, bLushel. 1.50a3.75: heets 50: brussels sprouts. quart, : cabbage, ton, 35.00240.00; sweet ! potatoes, barrel, yams, rel. 1.50a3.00; carrots. 100, 3.30a4.50: | caulific te. 3.00a3.50: celery. kale, bushel, 33240 1.0023.00: Deppers. onions, 100 pounds, ovsterplants. 106, 6.00a7.00: 100 4.0025.00: tomatoes, spinach. bushel. bushel, 40a30: (Spe- 1.00: tarnips, Apples. e ‘ranberri box. 2 arape- fruit, oranges,” box. 4.25; tangerines and Satumas, per wulf stock, 3.50a4.50. Selling Prices at Noon. Wheat: red Winter, spot, do- | mestic, 1.8215; No. 2 red Winter, gar- | licky, 1.781 5 | Sales—None. Corn—Cob, new. spot, barrel, as to delivery: low. No. 3.63a3.70 per | domestic, vel- | new, 93 per bushel. | Sales- one. Oats—No. 2, 53a33%: No. 3. new. 32a 323, ! Rye—Nearby. new. 90a%5; No. 3 rye. spot, no quotations. | Hay—Receipts, 56 tons. On the top grades of timothy, choice clover mixed | and strictly No. 1 clover hay, the mar- | £, ket is steady. there being no pressure | of really g0od hay on sale here. The | medium and poorer grades, however including low-grade mixed and grassy | hay. are in abundant supply and very draggy. Quotxuon“ per ton. timothy, 24.50a25.00; No. 3 timothy, 22.00223.00: No. 1 light clover mixed. .50a24.00; No. 2 light clover mixed, 0a22.00; No. 1 clover mixed, 23.00a today: No. 2 .\‘xr'aw— Yo. Lwheat, 11.00a1%.00; No CHICAGO, December 8 (United | States Department of Agriculture) Hogs— Receipts, 37.000; 15 to 25 lower than Monday’s average: lighter weights |show minimum declines; packing sows extremely dull; early bulk, desir- able, 210 to 300 lb. butchers, 11.00a 111 better grades, 160 to 190 weights, largely 11.25a11.50; practical | top, 11.60; 140 to 150 1b. selections, | mostly 11.60a11.85: few pacKing sows. 9.00a10.00; _ desirable killing pigs, | largely 11.75a12.00; heavy-weight hogs, | 10.75a11.00; medium, 10.85a11.15: light, 10.60a11.50: light lights, 10.75a11.85: Ipu('klnx sows, 9.00a10.00; slaughter | “ 1 pigs, 11.50a12.25. Cattle—Receipts, 14,000; quality, considered stead: 25 lower: tendenc prime Christmas few loads choice yearlings. 11.75 most fat steers, 8.75a10.50; | |little change in she stock; vealers, 50 | higher, mostly 11.00a11.50 to packers; | outsiders, 12.00a13.60. Sheep—Recelpts, 15,000; fat !ambs| opening around steady: good and! choice kinds, mostly 17.00a17.35, some held higher: in between grades, weak; | fully steady; feeding lambs, | 5 higher: spots, up more; fat | vearling wethers averaging around 99 | {1bs., 14.00; early bulk. desirable lat ewes, 9.23a10.00; few sales feeding lambs, 16.25a16.50; one short double, i 16.90. fed steer | yearlings, | Ten million persons in this countr who own automobiles earn less than $40 2 week. WHEATINRALLY | source - | Joshua Evans, jr.. fon such security {of the Federal Reserve System equ CHICAGO I.IVE STOCK HARKET‘ : big packers bidding up m,m.ss;i b MELLON DISLIKES TAX-FREE ISSUES Favors Productive Channels for Idle Funds in Letter to Investment Bankers. BY CHAS. P. SHAEFFER. ecretary of the Treasury in a letter to the Investment ers’ Assoclation, vention at St. Petersburg, Fla., states he is deeply impressed with the views expressed by the Federal taxation committee of the association regard ing the necessity for restricting future issues of tax-exempt securities, and also adjusting the surtaxes In order that tax avoidance may cease and funds seeking investment may be at tracted into productive busines her than téx-exempt securities. Mr. Mellon asserts that taxatio cannot fail to have its influence investments, and it must also be re membered, he points out, that anothe. important factor in the present state of the credit and security market i the program of governmental econ omy and payment of the public deb which has been so steadfastly adhered 10 in recent vears. Continuing, he says alone the sum of more than half a billlon dollars annually has been made available for investment in business. At the same time the hur den of taxation has been lightened, the public credit has been improved and the foundation has been laid for orderly retirement of the public delr within a reasonable number of vears “This I8 In accordance with the } toric policy of this Government,’ Mellon said. “which, from the hegin ning, has always balanced its budget and promptly extinguished the public debt. Tt is of the utmost importance that this policy be adhered to. for if & sound system of tax: on is adopted and the present policy of governmen tal economy and orderly debt retire ment i« continued. we may look for ward with confidence to an era of in creased proeperity in which eve: one will share Eugene E. Thompson of Crane, I’a: ris & Co. of this city is chairman the committee on Federal taxation Gas Stock Climbs to 31, stock usurped Railway position as leader of the local climbing to 71 on sales ol This issue has heen rela tively quiet in recent months, follo ing a 10-point advance in early Su mer. made principally in expectation of an increased dividend. It was held at 713, as the session closed Railway common sold off 11z from yesterday's peak, 15 changing hands at 248 Monotype was easy at 8412, zenthaler firm but quiet at 19 Trac tion stock was strong at 103, as was Potomac Electric Power preferred at 1041, and fractionally above. Trust Bankers to Meet. departments cc of banks e husiness Hotel. in St Mellon Bank now in annual cor that from this an Gas cor mon’s list today, 53 shares, points shares Lanston with Mer- The annual trust ference for all waged in fiducia held at the Statler on December 11 -l‘:d 12. E. E. Mountjoy. local represe \tive of the American Hankers Asso clation and secretary of the national bank divisfon, will u:u‘tn‘, as will executive vice pres National Bank. Louis, ident of the District 18 g214 | meeting held yesterday between Ed- | The Washington lLean and Trust (o 925 | Win C. Jameson. the principal objector | and perhaps other local institutions ; will send representatives. Business Taken Over. Wilquin and Fitz-Gibbon. Inc., h taken over the business of the Unimn Discount Co. and its subsidiaries, and | will conduct its future business at 309 Southern Building. a newly acquired location. In addition, the company will conduct corporate financing and deal In first mortgage loans, according to R. E. Fitz-Gibbon, president. Directors of the Citizens' Savings | Bank have declared the regular semf annual dividend of 3 per cent, pay able on December 30 to stockholders of record December 19. The institu. tion is capitalized at $200.000. McFadden Bill Up Soon. Reports emanating from Congress suggest early discussion on the Me- Fadden banking measure. The proposed revisions are in line with recommendations by the Ameri- n Bankers' Association and by the stockholders of the various Federal reserve banks. and are, substantially, as_follows: Provides indeterminate charters for national banks in lieu of the present vear clause. Permits organization of national banks in outlying sections of cities of | more than 50,000 pup\xhflmn with a | smaller c: pital than $200,000, but not less than $100,000. upon approval b the controller of the currency. Regulates branch hanking by Na ' tional and State member banks of the “ederal Reserve System, limits the operation of branches to the munici pality in which the parent ban {located and confines branch banking to those States which permit branch ! banking at the time of the passage of | the act. | Provides for payment of stock div dends. Simplifies the procedure necessar: for the consolidation of national and tate banks. Removes existing restrictions real estate loans by permitting 50 per cent of savings deposits to be loaned for a period of five St antees to State bank members {ity of operating conditions with na tional banks. Clarifies in many wa; law regulating nationa s the existing 1 banks. WOOL MARKET STEADY. BOSTON, December § (Special)- | Domestic wool prices have been onl: | sliehtly affected by the slowing down in activity of the market here. Salesx of fine territory wool on clean basis o $1.37 o $1.30 are reported, with hal: bloods at $1.25. Trade as a whole proceeding cautiously on the theor that another slump in price like that of last Winter may occur. Foreiz: primary markets were slightly lowel teday. CRUDE RUBBER HIGHER. NEW YORK. December § (Speclal: —Crude rubber at $1.09 a pound today Wi a cent under vesterday quota tion and 8 cents above the price of picnth ago. A year ago the price wi 381, cents BUTTER HIGHER TODAY. CHICAGO, December § (#).—Butie higher: rece creamer, extras, 493 ; extra firsts, 4612a4715; firsts, 431224513, sec onds, 414215, Eggs unchanged: cases. CRUDE OIL DECLINES. NEW YORK. December 8 (Special: »omestic crude oil production in the week ended December 5 declined $.670 barrels daily from the preced ing week, averaging 2,058,234 daily according to the Oll and Gas Journal Light oil comprised 1,437,412 barrels daily, a decrease of 9,472 from the preceding week. receipts, 2.904