Evening Star Newspaper, January 18, 1926, Page 22

22 % FINANC CIAL. WALL STREET LIST IS FIRAA AT CLOSE Norfolk and Western in Sharp Run-Up—Lack of Def- inite Trend. BY STUART P B to T WESNT B NS YOIIR was dull with no ) the mo- turs rath deal of e had been nd that s did not act on ¢ last week's ved up too much wis mor upon this ement tially t week had fast 1 than tebaker teel common moved At times there h buying and advance in due to interest and so wit The probably short lied easily shoi Jlectric nt ns of the rise. . but there + renewal of speculd arland at one st ol 1 and the special bu wed Oil, which had been s i last week 1 but ot The exp! tates Rubber, which 1 of its supply of raw material, was position to get the full benefit of . greal rise in crude rubber prices Market Opinion Mixed. ive opinion as to the imme- » of the price movement very much divided. One Away house was ad the market abllity to ibber was diate futu continue promin vising his withstand the gener: Anot advk towers to take adva rally Hign holdi ations it v be erially Still_an- 2 “particularly | the railway group.” nding the slight reac- ous- Tow other good buying Notwithst States Rubber higl United con- to reach Zood-sized de 0 the rubber and related shares I week appeared to be for the most part in response to the announced ntion of the formation of two e rubber itions. but the de- 1d for United States Rubber com- was be based on the iblc Late A th aft h develop market, The b fternoon Trading. on further 1 in the motors and steel the standard rails ed forward moderately and there e special buying movements in the stocks and in the paper 1 deal was said on the conditions, from the point, in the crude ruhber market, and some of the rub- her issues were in active demand. The fact that it will take vears before the newly projected American pro ducers of rubber in the Far East can get results was overlooked. MARKET CLOSES STRON! the subjec Amer U. S. Steel and Other Shares Prices col the tinal hour under of U, Steel, which crossed 1 despite a momentary t- bhack, in which U. 8. Industrial Alco- hol receded 5 points. Norfolk and We rn advanced almost four points, to 155%. the highest in more than a oa nd American Brake Shoe and 41, points. Total sales Foundry rose approximated 1,400,000 shares. Markets at a Glance ocks strong: Nor- vear’s high: motor Bonds firm: Serbian 8s Foreign ex ng flrm. Cotton Spot m 1s Cuban buying. Coffee imission house selling. O.—W firm: better ex- demund. Corn higher: unfavor. weather. Cattle steady. Hogs good demand for lightwelghts. Jort able higher RUBBER TAKES TUMBLE. NEW YORK, January 18 (Special) —{rude rubber dropped sharply 61 cents 4 pound today to 77 under Lon- don pressure. This corresponds with 43 last week and ;w. last year. CLOT!{ MARKET QUIET. NEW YO January 18 (Special) ~Cotton_¢ were very quiet at the openin, the week and showed no appreciable change in quotations for standard print hs. The ma- ority of raw silk grades were un- vbanzed and trading s quiet. K. nhs of ‘WOOL BUYING SLOW. BOSTON, January 18 (Special)— rhe wool market here hestitated to- day. waiting for the actual bidding he London auctions, which open ¥. to confirm or refute the local that prices are to be firmer. opinion is fostered by the de- mand fo At in merinos t vound $1.03 for good combing 64-70s Seon Wouls are moving freely. up odd lots of wools suitable steds for wo! BONDS OVERSUBSCRIBED. NEW YORK. January 18 (#). New bond w offered for public subseription today, the largest belng $22,500,000 Western United Gas and tric Co. first mortgage ils per cent honds at 99 and interest to yield about 4 per cent. Quick oversusbeription £20.000 Crown Willlamette Paper Co. first mortgage 6 per cent sinking fund gold bonds was reported issues PARIS MARKET UNEVEN. | i PARI y 18 (P Prices| moved ir Iy on the Bourse to- Three per cent rents, 49 franes 5 centimes. Exchange on Londo | ABItibl Pow (4). Adams Exp (6). | Ad Rumley pt(3) Ahumada (t1), Alr Reductn(15). Ajax Rubber Alaska Junea. .. All Am Cable(7). Allled Chem (4. Allis Chalm (8). Am Agricul Chm Am Ag Chm pf.. Am Bank N 1.60 Am Beet Sug (4) Am Bosch. Am Rrake Sh (8) Am Br Bov Am Can (+10)... Am Can w i Am Car&Fdy (6) Am C& F pf (7) Am Chain A (2) Am Chel prpf(7) Am Drug. Am & For Pow Am & F P pf (7). Am Hide & Lea.. Am Ice (+10). ... Am Ice pfd (6) Am Internatl. ... Am La Fran (1), Am LaFra pf(7). AmLaFrance rts. Am Linseed. ... Am Loco (118) Am Metal (4). .. Am Radfator (4) Am Safety R (3) Am Ship & Com. Am Sm & Ref (T) AmS&Ropf (7). Am St Fdys (3). Am Sugar (5)... Am Sugar pf (7). Am Sumatra. Am Tel & Ca (5). Am Tel&Tel (9). Am Tobacco (19) Am Tob B (17). Am WW&EI 1.20 Am Woolen. . Am Wool pf (7). Am Writ Pap pf. Am Zine. . Am Zinc pf. Anaconda (3). ArmourDel pf(7) Armour. 111 A (2) Armour I1l (B) Arn Cons&Co Arno'd Con ct Arnold Con (n).. Artloom (3) Art Metal (1.60) . | Asso Dry 2wy 0 DG 1st(6). Ass0 Ofl (2). Atchison (7). Atchison pf ( Atl Birm & At. Atl Coast L (19) At Gulf&W I. Atl Gulf&WI pf. Atlas Tack. . Austin-Nichols. . Austin Nic pf(7). dwin L (7).. Bald Loco pf Balto & Ohlo(5) Ba! & Oh pf (4). Barnsdall A rts. . Barpsdall A (1). Barnsdall B (1). Reech-Nut (13). Be'ding Bros(3). Rethlehem Sti. Beth StI pt (7) Reth Stl pf (8). Rooth Fisherte Booth Fish 1st. Briggs Mfg (3) British Empire British Emp 2d Bkl Edison (8). RBkyln-Man (3) Bk-Man T pf(6). Rklyn Un G(4) Brown Shoe w Brown Sh pf (7). Brunswick-Balk Burns Br B (2) Bur Add Ma (). Bush Ter de (7). Butte&Super(2). Caddo Central. .. Callf Packing (8) Callf Petrol (2).. Callahan Zinc Calumet&Ar(t5) Can Pactfic (10). CTase Threshing. Case Thr pf (7). Cent Leather. Cent Leather p! CenRROfNJ (11 Century Rib (2). Cerre De P (15). Certain-Teed (4) Chandler (3).... Chesa&Ohio (4). hes&O 1f (612) | Chi& Alton. . { Chi & Alton pf. Chi Great West. Chi Gr West pf Chi M1l & St P. CM&StPctis Chi Mil & StP p Chi & Nwn (4). ChiRI& Pac. .. CRI&PDPL(T). Childs (32.40). Chile Cop (2%).. Christie Brown. . Chrysler Corpn Chrysler pf A(8). Cluett Peab (5).. Coca-Cola (7) Col Fuel & Iron Colo Southern. Col G & B (2.60). Col G & E pf (7). Col Carbon (4). Coml Cred (1%). Com Credit rts. . Com Inv (3.60 Com In Trpf(7). Com Solv A (4) Com Solv B. Congoleum (2) Consol Cigar. Consol Clgar rts Consol Distribut. Consol Gas (5) Consol Textil Cont Can (16) Cont Insur (§).. Cont Mot (80¢). Corn Prod (2) Coty Inc (3.80) Crex Carpet (4). Crucible pf (7). Cuba Cane Su Cuba Sugar S pf. Cuba Co (4)-.... Cuban-Am S (2). Cuban Am pf(7). Cuban Domin Cudahy Pkg (7). Cushman’s (3). Cushman rts. Danlel Boon Davison Chem. Del & Hud (9).. Del L & Wn (17) DRG Wstpf... Detroit Ed (8).. Devoe&Ra(2.40). Dodge Bros Cl A. Dodge pf 7). Dome Mines (2). Doug Pec (t1%4) DulS S & Atlpf. Dupont (114)... DuPont deb (6). Eastman (18) Baton Axle (2). Elec Powr & Lt. . EP&L pf 40% (T) EIP&Lpf(7).. Kiec Sto Bat(16) End John (5). ErifeRR.. Erie 1st pt Erie 2d pf. Eureka Vae (4).. Falrbks (2.60).. Famous P1 (8).. FedLight(®1.40). Fed M&Sm(110). Fed Min pf (T).. | Fifth Ave (64c) . | First Nat Stores. Fisher Body (5). Fisk Rubber-. ... Fisk R 1st pf (7) Fleischmn(new) Foundation (8).. franes 85 centimes. Five per cer francs centimes. The dollar was quoted at 26 francs 503 centimes. Fox Film A (4).. Freeport-Texas. Gabriel A(13%). 2 Oven. Hizh. Law 167% 147 43% 1836% 954 42% 85% 16% 20 8% 220% 104 108% 277 314 106% 91ty 8% 68% 35 43 40 b51% b4 107% 374 103 96% 17% 4l% 974 25% 113 58% 172 81 23% 0 107 884 By 72 107 o7 8l Cloxe. 725 106 b7 8% 1123 109% 111% 104 1% 133 116% 38 10% 1% 188 114% oty 324 10% 1% 133 115 924 32% 937 4ty Ao, THE f | Gardner Motor .. Gen Am Tnk (3). Gen Asphalt. ... Gen Electric (8). GenEl spec(60c Gen Gas A (1%, Gen Motors(112) Gen Mot pf (7). Gen Outdr Adv Gen Outdr A (4). Gen Petrm (3). GenRySIg(14%). |Gen Ry Spe (6). | Gen Refrac 2) Gimbel Bros. Gudd-n\ 2 Gold Dust. Goodrlch Rit (). Goodyear pf (7). Goodyr prpf(8). Gotham S H 214 . Gotham pf (7). Gould Cou (2) Granby Consol . . Grt North pf (6) Gt Nor Ore(1%). Grt Wstn Su (8). Gulf Mo & Nor-. . Gu M& N pf (§). Guif States S (5) Hartman (2%) HayesWhi(13 Homestake (16). Househd( (13%). Houston Ol Howe Sound (2). Hudson Mn (214) Hud Man pf Hudson Mot Hupp Mot (1).... Tllinois Cen (7). Indep Ol (1).... Ind Motrey (50¢) Indian Refining. Indtan Refg ctfs Inger-Rand (n). Inland St (2%4).. Inspiration (2).. Interurb Rap Tr. Internat Agrl. Int Bus Mac ( In Cement pf(7) Int Com Eng (2) Internat Har (5) Inter Har pf (7). IntMatch pf 3.20. Int Mer Mar pf. . Int Nickel (2) Int Paper. ... Int Tel & Tel (6) Jewel Tea...... Jordon Mot (3).. Kan City South. . Kan C So pf (4). Kayser J (3). Kelsey Wh (6). Kennecott (4) ... Keystone T & R. Kresge S S (8).. Kresge Dept S Lee Tire & Rub. Lee Tirevts. ... Lehigh Val (3%4) Leh&Fink otfs 3. Liggett & M (14) Liz & My B (14). &Mpt (7). Lima Loco (4) Loews Inc (2 Loft. i Long Bell A (4). Loose-W 2d (7). Lorlilard (3). Louisiana O!1. Touis GasA (1 Louis & Nsh (6) . Ludlum (8)..... MeCroryB(15.60) MolIntyre P (1).. Mack Trucks () Mack Trucks rts. Magma Cop (3). Man El Sup (4%) ManEmd g (5). Man Shirt (1%). Maracaibo Ofl. .. Market St prior. Market St 2d pf Marland Ofl (4). Marlin Rock Martin-Parry Mathieson (4) May Dept St (5). May Dp S pf(7). Maytag (2 Mexican Seabd. . Miami Cop (1).. Mid-Continent Middle State: Minn & St Lo Mis Kan & Tex. . MoK & T pf (5). Missourl Pacific. Missourt Pac pf. Mont Power (4). Montgom Ward. Moon Mot (3) MotherLode(75e Mo Picture(1%) Motor Met (3 | Motor W ullins Mu Murray Body. sh Mots(116) . Nat Acme (sta). Nat Biscuilt (14) Nat Cash Regstr. Nat Distillers. Vat Distillers pf. vat Ry Mex 2d.. Nat Supply (3).. Nat Surety (8). . N O Tex & M (7) NY Air Brake(2) N Y Air Br A (4) N Y Canners (2). N Y Ceneral (7). NYC&StL (6). “&StL pf (6). N YN H & Hart. NYOn&Wn.... Niag F pf (1%) . Norfk & Wn (18) Norf & W pf (4). North A (B3.40). North Am pf (3). NorthAmEd pf 7. North Pac (5) Norwalk (1.60).. Norwalk T pf(7) Nunnally (1.50). 0il Well Sup (2) Onyx Hos pf (7). Oppenheim (3).. Orpheum (1.30). Otis Elevator(6) Otis Steel. Otis Steel pf. Outlet Co. ... Outlet Co pt Owens Bot (14). Pacific Gas (8).. Pacific 011 (3). .. Packard Mot(2).. Paige Mot (1.80). Pan-Amer (6)... Pan-Amer B (6). Pan-Am Wn (2). Park-Utah Mines Pathe Ex A (c5). Penick & Ford Penn C & Cke Pennsy RR (3). Penn-Seab Steel. Peoples Gas (8). Peorta & East. .. Pere Marq (4) Phila Co (4). Phila& RC&1 Philip Morris. Phillips Pet (3). Plerce-Arrow Pierce-Arrow pf. Plerce O1l.. . Pierce Petrol. Pitts Coal. s Pitts Term Coal. Pitt Ut pf t1.20.. Postuml (4.40).. Press Steel Car. Pr8tCarpf (). Prod & Refiners. Pub Ser NJ(5).. PubS NI pt (7). Pub SeEPo pf(7) Pullman Co (8)., Punta Aleg Sug. Pure Ol (1%4).. Radlo Corpof A. Radlo C pf (3%). Ry 8t18p (110).. Rand Min (3.31). Ray Cons Cop Reading (4) . Reading rts..... 126% 13% 95 49 . 1011 63 127% 76% 3915 253 69 697% 417 T 7 19 164 B3y 2 118 25 85 64 42y 19 435 38% 104 1ty 5% 39y 61% 15% 109% T4% 914 14' 874 105% 106 169% 42 20% 434% 46 169% 33% 11% 86 19% EVENING STAR, Hizh. 9 B3 69% 338 1% 57 118% 1147 3114 52% 56% 9% 104 14% 89% 1057 106 171 42 29% 4a% 46 169% Ry StSp pf (7).. 1204 120% 33U 11% 86 20 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. Close. 8% 68 1% 118 25 85 6375 42 19 435 381 104 115 Bl 398, 611y 15% 109 744 81k 14% 874 105% 106 1694 417 204 434 46 169% 120% 33% 1% 85% 19% 9 531y 69% above | Remingtn 1st | Roya WASHING' MONDAY, JANUARY 18, 1926. ADVANCES SCORED | e or BONDS o s Received by Private Wire Direct to The Star Office UNITED STATES. [N BOND MARKET More Attention Paid Today to Foreign Issues of High Grade. BY GEORGE T. HUGHES. Special Dispatch to The Star NEW YORK, January 18—The bond market continued firm at the opening of trading for the week with price advances in the higher ylelding securities. More attention was paid to foreign issues. German 7s crossed 102 for the first time this month. Jugoslav 8s were up over a point, the rise being connected with reports of new credits to be extended by Amerl- can bankers. Hungarian sell ing above 95, rallied from the reac- tion of last week. Argentina “A" 6s and United Kingdom b'%s of 1957 were higher on investment buying. In domestic industrials the feature s the Bethlehem Steel bonds. There were heavy transactions in the “A" of 1945, and In the “B" Bies of 153, both secured under the same mortgage, and with each issue selling higher than at any time since 1924 These fairly represented the type of bonds in demand. The vield is more than 6 per cent on a straight income basis, s well as to maturity, and it is generally understood that the finan cial position is steadily improving. Another bond in this same class, Seabourd consolidated 6s, were also bought at higher prices. Hudson and Manhattan refunding 5s were active 4, and United States Rubber held around their recent new high. Che leader among the sugars wa American Beet Sugar 68, above par. In this case there is a conversion right of no present value, but with possibill ties in the event of recovery in sugar prices. Baltimore and Ohio-Toledo 1 4s, opening lower, quickly Ties, Williamette were over promptly wn, i today bouks r first 65 offer vibed and the closed JEWEL TEA SALES UP. NEW YORK. January 15 (@) Salex of the Jewel Tea Co. for 1925 reached $14,121,196, in contrast to $13 71 in 1924, Reading 18t (2). Reid Ice Cm (3). Remington Typ 404 52 118% 120 106 108 14, 147 | GRly 5A%y 5! a9 9614 408, Replogle Steel Rep Ir & Steel Reynolds Sprogs Rey Tobac B(4). Rossia Ins (§) a2 9813) afety Cabie (4) St Joseph L(13). 3 | L & SanFr(7). StL&San F pf(8) St L Southwest. Savage Arms Schulte (§8) . Seaboard Alr L. Seabd Alr L.nf. . Seagrave (1.20). Sears Roebk(8§). Seneca Copper. . . Shattuck F G (2) hell Un (1.40).. hubert Theatre Simmons (12.25). Simms Pet (1).. Sinclair 01l 17 | 9215 | | 1001 17 101 114 903 2714 %101 outh Port S (6) th Pac (6) Southern Ry (7) South Ry pf (5). Splcer Mfg. . Spicer pf (8). Std Gas & El (3). Std G&EI pt (4). St 01l Calif (2) StOIINJ (1) StONINJ pf (Sales are Lib3%s... 37 Lib 1st4is 54 Lib2d 4%s. 131 Lib8d 4. 123 Libdth £is 04 451944 1 TUB4Ns"53 42 FOR Sales. Argentine Argen 6s Ju Argen 6s Oct '59. . Argentine 6s A Argentine 6s B Argentine 7s. Australian 58 Austria 7s. . in $1.000.1 High Low. 100 2 101 25 100 21 100 30 102 1 103 2 106 18 EIGN. 100 101 22 100 19 100 28 101 31 10 109 Bank of Chile 6 l43. Bank of Japan 6s. . Belgium 6s. Belgium 6% Belgium 7s. Belgtum 7% Belgium 8s. Bolivia 8s. . Bordeaux 68 Brazil 7s. . Brazll Tis, Brazil 88 Canada 6s 195 Canada 51s 1 Chile 73 1943 Chlile 83 1926 Chile 85 1941. Chile 85 1946 Chinese Gov Tty 6a. Con Pow Japan Copenhageun 5 %8 Czecho 85 1951 Czecho 83 1952 ct Denmark 6s. ... DEI5%s Mch DEI5%s Nov 53 Dutch East I 6s° Finland s 6545 Finland 7s French 7s. . French 7= French 8s. . German EI P 6125 German 7s. . Ger Agr Bank 7 Ger Gen CGireek Ts Haliti 65 2 Hungary 6345 Ttaly 3 Japanese 4s. ... Japanese 6135 Lyons 8s. Marseille 65. . Montevileo T Netherlands 6s ‘54 Netherlands 6s 72 Nord 6%5 Norway 6%s. . Norway 6s 1943 Norway 68 1952 | Paris-Ly's-Med 63. Foland 63 '4 | Poland Ss. . { Porto Alegre 83 Queensiand s Queensiand 7s. . Rio de Jan 85 1946. Rio Gr Do Sul 83. Sao Paulo 1950. . Saxon P W Ts... Serbs Crot Slo-8s Sweden 5%s ct. Sweden 6s. .. Swiss 5148 1946. Swiss Confed 8s. Uruguay 8s.. MISCEL Ajax Rubber 83 Am Chain 6s. Am Smit & R 6s. Am Sugref 6s. AmT&Tecltris AmT&TsfH Am T & T deb stn Am Water Wks 5 Anaconda 1st 6s. Std Plate Glass. 1 Sterlinz P ( 5 3 3 ewartW Stidebaker L Sun0il (1) yon | 5105 | | | | 25 85 64 42 19 43% 39% 106 1% 5% 40 6115 15% 109 k(3 91y 14% 89 106% 106 170% 42 20% 48% 46 169', 120% 334 11% 85% | Un Tk Car pe(7). | UtdCigar(*3i0) . Superior Ol 133 Tenn Copper (1) Texas Co (3).... | TexGuIfS(18% ). Tex & Pac C & O. Tex & Pacific. ... ‘The Falr (2.40).. Tide Water (1).. Tide W Ofl pf(§) Timken R B (14) Tobae Prod (6).. Tob Prod A (7). Tobacco Pro rts. Transcont Oil... Underwood (t4) Un Bag & Paper. Tnion Of1 (2).... Un Pacific (10).. Un Pacific pf (4) 1414 51ty 1231 171 584 33 364 100 63% 1004 111y 3 4 6015 61 88 1468 5% 1148 2714 8815 Ttd A1Stl (500). Utd Cgr Strts. United Drug (7). Utd Druglst 3% Utd Frult (10).. Utd Ry Inves pf. U S Cast Iron P. USCIPpL (D). U S Distributing U § Hoftman (3). J § Ind Alcoho Ind Al pf(7) Realty (n) 68 6T% s s s s Rub Ist (8). S Smelt (3%). U S Steel (7). U S Steel pf (7). U S Tobacco (8). Universal Pipe Univ Pipepf (7). Vanadium (") l7 126% 5674 2613 73 807 1t 57 31 14 1% 10 21% 64% 26 27% % 49 T5% 18% 21%: 804 110 17 84 895 15% 221 va-Caro Va-Car Ch pf efs Va-Car Ch(n)w | Va-Car Ch pf(8) Va-Car Ch (7) pt Vivaudou. Vivaudou rt: Wabash..{..... Wabash pf A (5) ‘Waldorf (1%).. Walworth (1.80). Ward Baking B.. ‘Ward Bak pf (7) ‘Warner A (1%). Weber (4). West Penn E1 A.. West Maryland. West Md 2d pf ... Western Paclfic. West Pac pf (6). Western Un (8). WesthseAB(17). ‘Westinghee (4). Wheel & L Erie.. Wheel & L E pf. White Eagle (2). White Mot (4) . Whi Rock (2.40) . Wickwlre ctfs. Willys-Overlan Willys-0d pf(7). Wilson & Co. Woolworth (14). Worthn Pump. .. wright Aero(1). Yel T&C (75c).. 20% Youngstown (4). 85% 85% 85% 85% rates v re e Bnmial '..‘:..‘L.;,"m‘.‘:..'."%:.':'a‘ in"z'fl: atest quarterly ‘or half yearly ation Unieas ‘otherwise boted. exti 3 dendg-are ot ncluded: o pos At rerular rate, 17 83 89 156% 22% 361 78 138% 120% 2% 28% 49 264 8014 85 3 28% 92 5 202 40% 27 78 141 73 20 49% 26% 92 2006 4074 27% 41 T 27 20% 29% 20% 2% a Paid this vea o optional in stoek: < *Partly sock. i3 19%.4; in s " #Payable in preferred stock. payable 1% aquarterly: 2 stosk palie Y7 gty ehud Andes Cop 7s e Armour De Associated O Atiantic Refin I | Barnesdail s £ 82 .| Bell Tel Pa s B | Bell Tel Pa 5sC Beth Steel pm 55. Beth Steel ©f 55 Beth Steel 5% '53 Bklyn Ed gen 6s. Bkiyn Ed 65 B. Bush T Bldg 5360 Calif Petp 6%s. Chile Copper 63 CinGEbHs'82. Col Gas & El Col Gas& Elis s Consumers Pow 55. Cuba Canecv 7s. Cuba Cane ev d s< Denver Gas 38. Det Edison 5840 Det Edison ret 6s. | Dodge wi 6s. Donner Steel 45 2 Bet Cuba Sug 7%s. Fisk Rubber 83 Goodrich 6%3 Goodyear 8 1931 Goodyear 5s 1941 Hershey 6%s Hoe & Co 6136 Ain Agri Chem Tias 14 105 AmSmit& R 1st5s 17 100° Empire G & F 7%3 7. Dutch East I 6s'82. Jergens U M is'n. Mexico 45 10 asntd. Ortent Dev deb 61 Sao Paulo 85 1936. . Rio de Jan 85 1847, Ud Kingm 5% "29. . T Kingm 5%3s'37. 10 110% LANEOUS. 5 102% 024 1035 99 100 10845 1034 4 1081y AmT&Tcllrfl: . Anaconda cv db 7s. .| Armour & Co 4155 Bethlehem Steel 85 3! Brier H St 1st 5%3. Cen Leth 68’45 cfs. Commonwth P 8s. . Con Coal Md 1st 53. Con Gas NY 6%8.... 6 21 Cuban Am Sug 8s. DuqL & P5ts 43, Duquesne Light 8s 10 4 Humble O & R 5%s 21 1ilinols Bell 1st 55. Indfana Steel 5s. .. Int Mer Marine 6s. Int Paper 55 '4 tnter Paper 6s. KCP&LtosA'S2. Kan G & Bl 6s'52.. Kelly-Spring 8s Lacl G ref 5534 Lacleds G 5%s'62. Liggett & Myers 68 Liggett & Myrs 7s. Lorillard (P) b8 2 1 13 .18 .38 10 3 2 34 1 150 2 Loulsv G & E5s '52 15 Mid-Con 6%3'40. Midvale Steel 58. Sontana Pow bs. Mor's & Co 18t 4%S. N Y Edison 6%s. NYGELH&P 4s. N Y Tel §8'dl NY Tel 63’49 North Am Bd North Am Ed 8%s. 120% | Nor States Pow 6s. 1748, 16 8 .41 & El6s. 19 Ph(ll Cob%s'38.. Phila Co ref 68 A Pierce-Arrow 8s. Public Service 68 Pub Serv Elec 68 PServGasb5%s'sd 3 P ServGasi¥%s '8, Remingtn Arms 6s. Rog Brown Iron 7s, Sinclalr Ofl 7s. Sin Crude Ol 65. South Bell Tel 5 Sin Pipe Line bs 9 1 1 24 14 43 10115 8814 lose 100 8 100 100 29 102 1032 106 18 Close 87% 10115 100 100% 89% 95'% 100% 1015 88'% | Westinghouse 7s. . Sales | Southwest Bell a3 Sug st Orient 7s Tenn Elec Pow 63 Toledo Fdn 1st Union Bag & 1 65 U B Rub Ist rf 5; U S Rubber 7'4s. USSteel st bs. ... Utah Pow & Lit §s. Va-Car Chem 7s Vertientes Sug 7 Warner Sug 7s "33 West Elec is. . Westn Union 6135, . Low. Clos 1009 100% e 9% 10374 109% 1054 93 107% 108% 954 107 9% 82 1004 1114 1057 1025, 100 101% 102 High 100% 914 1051y 109% 105% 23 1077% 1064% 9514 107 Willys-Ov 6 4 Wilson & Co 15t 6. Winchester A 7155, Youngstn S& T 6s. RAILROAD Atehison zen 4s. Atlan C 1, 1145 '64 Atlantic CL7s. ... At1 & Dan 1st 45 48. At & Dan 2d 45 48 B & O Gold 4s. B&Ocvils. B & Oref bs. B&O 15t bs ot B&O6s B&Orf imp 65, B& O PLEW B&O Sw Div BkIyn Manhat s Buff R& Pitt 4129, 90% abt 107 Tih 6814 anty 945 95% 105% 103% 2 1043 d North 614 d Pac deb 4 ‘ur Clinch & O 6s. “ent of Ga | Pacific 4s. . 15t 5530, Thes & O cv 434s. .. hes & O gn dis “hes & O ev bs & Alton 35 B&Qgn 4s hiB& Q Istrf 53, TB& Q-1 div 1s. & ETgns i eat West 45. 1 25 ofs 4='89 & StLrfesA. “leve Term 533 Ciba N R 655 Del & Hd Istrfds., Del Hud cvas'33. . econvdsB.. rieconv4s D e & Jersey 6s l< a EC5s'74.... 3r Trunk =f db 65.. Grand Trunk 7s. . reat Ni Gr North gen T: Hud & Man ref Hud & Man aj 5s. 1l Central 5t s Int Rap Tra Int Rap Tr os stpd. Int Rap Tran 6s. .. | Int Rap Tran 7s. . Int & G L&N 41 2003 Louis & Nash 7 Manhat Ry cn 4s. Mil Ei Ry & L 5s. M& St L Istrfds. M St P & SSM en 4 M StP & SSM 63s. {MK&TIst4s.. MK&T4 | M K &Tadj 58 {MK&Tprir |IMK&TEsC. ... Mo Pacific zen 4s | Mo Pa 965 Mo Pac 6s 49 D Mo Pac 6555 E. . Montrl Tm 1st N O Tex & M in 3s. O Tex & M bs B OT&MbEHS Y Cen gen 3%3s.. N Y Cent deb 4s. Y Centri5s... Cent LScl3i.. Y € & St L db 4s. Y Chi & St L u%s NYC&StL ew Hav d 4s ‘57 ew Haven cd § ew York Ry N Y State Ry 445, N YW & Bos4'ss Norfolk & W ev és. ‘orthern Pac 3s. orthern Pac s | Northern Pac 5s D. Northern Pacr i 8s. | Ore & Calif 15t 5s. Ore-Wash 1st rf 43. Pennsyl con 433s. . Pennsyl gen 413 Pennsy] gen bs Pennsyl 5 '64. Pennsyl 6%8 Pennsyl gold 7s. Pere Marq 1st 6s. Por RL& P 65 47, Reading gen 4%s RIATK& L 4%3s StL IM&S d4s°29 st |_ 1M&S R&G 4. S AL S W con 4532, ¢ P & KCShL 4% eabd A L 45 i Seabd A L 4s sta Seub A Liref 4s Seab A L adj b8 Seab A L con 63. Sou Pac 48°29. Sou Pacific clt 4s. Sou Pacific ref 4s. . Southern Ry gen 43 Southern Ry 1st 6s. Southern Ry s ct. . Southern Ry 6%s. . Term Asso S Li4s.. _ Texas & Pacific 1st, Third Ave ref 4s. .. Third Aveadj 3. . TolStL& W 4s.. Union Pac 1st 45 Union Pac 4527, Union Pac 1st rf 43, Virginia Ry 1st §s. VaRy &P 5s Wabash 1st ‘Wabash 2d 5s. Wabash 5%5 75 Western Md 4s Western Pacific 5s. | Whel&LErf4%s. COTTONSEE;J REPORT OUT. Cotton seed crushed in the five- month peried, August 1 to December 31, totaled 3.014,072 tons, compared with 2,548,100 tons for the same period a year ago, the Census Bureau today announced. Cotton seed on hand at mills, December 31, totaled 1,417,188 tons, compared with 1,231,008 tons a year ago. FINANCIAL, WHEAT IS LOWER INCHIGAGO TODAY Government’s Report on World Crop Weakens Mar- ket—Corn Scores Gains. By the Associated Press. CHICAGO, nuary 18.— Wheat showed an early trend downward to dav. influenced by an estimate from the United States Department of Ag- riculture that the world erop of wheat for the 192526 season will total 4,000 000.000 bushels, againet 3.091.000,800 bushels last Announcement of large world shipments of wheat last week, together with an increase of the amount of wheat and flour afloat for Europe, tended also to weaken values. On the declines, however, fair buying developed. Opening prices, % 10 % lower; May (new), 1.72% to 1.73, and July, 1501 to 150%, were followed by a slight rally and then by a set hiack lower than before. Predictions of cold weather to increase feeding helped the corn market. ~After opening un changed to 8 off, May, 831, to 83%; rn scored a little advance around. ats took their cue rather than from corn 1e lower; M went @ m covered some: | Higher quotations on hogs gave s {1ift to the provisions market. WHEAT— 0 likely to steady oats un then re Washington Stock Exchange_ SALES 5s—$1.000 & $1.000 at 09 Elre. " Pow p at 087y Potonia Capital _$2.000 a1 Traction Co—10 at 1087 i Waghington 2000 at 10 Potoniac Money—Call Bid and Asked Prices. BONDS. 31LIC UTILITY 000 at 1 6 per ce { Ana. & Poton &P i | Washington Gas Washingte Wardman Park Hotel 0% STOCKS. PUBLIC UTILITY can Tel & Telga “Fract tn onal’ Bank of Wash' . ST COMPA! Segurity & Trust mbia Title EState Tit MISCELL. torage pid. Frans. & Storage ' Monotype . ity Storage.. <l Washington Market *Ex i CAL; MONEY STEADY. NEW YORK. January 15 (#).—(: 3: high, 412; low, closing Lid, 41. . 473: call loans Time 6090 ds . prime mercantile | acceptanc ed n|v< FLOUR I.OWER TODAY. 1 NEAPOLIS, Minn., January 18.| . 10 to 35 lower at YORI, J ant Hiie Cdniimnize i oata m.)).l 4 jump in the week ended . exceeding by 11000 carl reported fc the we FOREIGN EXCHANGE. (Quotations furnisied by W. B. Hibbs & Co.. Nominal Traftic the k before. | Rerin. Tmark. - Rome: Birich, Kthens. drac Haiid: beseta: - Vihna, ! Bdagea e Criwn Watsaw. 7loty . Covenhagen. Gilo orows Qi oktiaim " erown. NEW YORK, January 18 (). —For- eign exchanges steady. Quotations (in cents): Great Britain, demand, 4853% cables, 48613: 60-day bills on ban 4311, France, demand, 3.76: cables, 3.7613. Italy, demand, 4.03%; cables, 4037. Demand: Belglum, 4.53%; Germany, 23.80; Holl 40.16; Nor- 0.34; Sweden, 26.76; Denmark, Switzerland, 19.81%; Spain, i : Greece, : Poland, 14.50 Czechoslovakia, 2.96; Jugoslavia, 1.77; Austria, 14; Rumania, 451; Argen- tina, 41.44; Brazil, 14.94; Toki Shanghai, 3 Montreal, ¢ TREASURY CEETIYICATES (Quotations furnished by Redmond & Co.) on.—-——, 00001 e “outady crown 1 ings Bank will be written next Saturday a when it will be moved. part cel, and street e and ey complete home |of thrirt. | the {pre: | day on Thursday ent ICITIZENS' SAVINGS 10 MOVE SATURDAY Liquidating Committee Re- ports Only Negligible Amount of Stock Still Outstanding. BY CHAS. P. SHAEFFER The obltuary of the Citizens “s a separate instity non: nd pa under the same roof that hous its new owners, the Merch Trust Co.. Fifteeen northwest. The deal that made the (itizens integral part of the Merehan recommended by direct: t institutions about a offictal sanction ’ not had until a few davs agn the annual meetings he these meetings unanin of directors’ action wae lquidating committee cor . Bren . president Iready ail but 571 of the of outstanding stock Officials that the cc hoxes 1o £ the ¢ werston of the parent carried along rything Drury pl; of the My eenth and Fou s a purchase an be four ers explainins Dose sponsored il co-operation v organiz 15 an entire wee 18 devoted to Nation to the various phase is “Bank day.” whil ts of a budget Wednesda wide entr T onomis be stressed tomorre subject of hed. folowed = and Make a-wi subject bills promptiy of radi on Issue Ts Oversubscribed. While Saturda the new 1e of A and Storage stock are still ks Latest tabulation shows an appros te, total of §1, about $100,000 in excess of the offe fng. It is the intent of the com to give the stock as wide tion as possible, whi means small orders will undoubtedly be fully fille. with large subscriptions bearing the brunt of whatever pruning is neces £ ama 10,000 subsc a distrib Dividend Declared. Directors of nge Bank the the ting of holders four new es were to the board. as follows: H. J. acob Riehl, Milton H. Prosperi and Salvatore a. The remainder of the board Joseph Del Vecchio, G. G. Loehler, ¥ Givern, '\Ihls, F. L. Neubeck Louis Rosenberg, Alfonso Tana, Jol Baccaro and John Vanier. The board will organize Janu: Seeks Bond Tssue Permit nd Oh perinissio rocent equij proceeds e of $11.000,00 k. The quire 5.000 new ht cars and 25 locomotives. Trading on Local Board. The opening session of the week o the Washington Stock Exchange wa dull and uninteresting. Merchi Transfer and Storage Co. sold at 1- to the extent of 10 shares, and Merc enthaler equalled its best ma ' the present movement by selling to nominal amount at pital Tra tion brought 1047 .xnd Potomac F tric Power preferred, e Bonds were moderately active at ur be used in the 1..;(‘ changed prices. EVERYMAN’S INVESTMEN BY GEORGE T. HUGHES. Aid for the Inexperienced. In the series of which this article the first, an attempt will be made 1. outline in the simplest terms possible the principles which govern the i vestmient of money. Tt is assured, for the purpose. that the reader has nu knowledge whatever of financial 1 ters and no acquaintance with secu ties. In the writer's mind will he man or woman who has come in the possesslon of a# sum of mone through saving or by inheritance o in some other munner, and whe interested f in pre ving the prir eipal amou intact d second i using the money so as to bring in regular and dependable income. T need for guidance of this class wi be the primary object of the series Tt 1 not the plan to suggest ho capital may be increased by purchas and sale of securitles. The one is | vestment and the other is speculatior and the two rarely can he succes fully combined. The aim of thes articles Is to discuss w to kee money, not how to make | There are two common mistake almost certain 1o cause heavy losse continually made by the inexperfence. One is to demand too high a rent fo the use of their fun and the othe is to confuse investment with spec latfon. The two shade intos one ar other so that it is not always possiil to say just where {nvestment ends and speculation begins, but they dif fer sharply in one respect, and that is in the motive. The man who fs concerned first of all with securing an income in the shape of interest or dividends or ren' is Investing; the man whose main purpose Is to increase his principal by buving property, whether real e« tate or bonds or sstock or anythir else, at a low price and selling at 1 higher is speculating. The latter has only a secondary eon cern or sometimes no concern at all with the rate of the dividend on b stock or the rent from his buildine. His vital interest is in the fluctuations of market price. He generally finds his best opportunities entirely outside income-producing property, but his problem does not come within the scope of this discussio «Copyright, 192