Evening Star Newspaper, February 15, 1926, Page 26

B 26 PINANCTAL.™ STOCKS COLLAFSE IN FINAL TRADING Today’s Market Break Worst Experienced for { Am Agricul Chm Long Time. {Am Ag Chm pe. ' e H"' g;nk N 1.60. BY STUART P. WEST. [ Am Sl Star A Beet S pf(7) Wall | Am Bosch | Am Brake Sh (8) I'Am Br Bover! Am Can (18). | Abitibt Pow (4. | Adams Exp (6). . | Advance Rumley | Alr Reductn(t5) ! Ajax Rubber. | Ahumada (t1).. | Allied Chem (4). | Allled Cm p (7). | Allis Chaim (6). | Allis Chal pe (7). Is Special NEW Street prices ¢ in the worst br Dispatch to The YORK, I hed dow bruary 13 rd today t has been seen in a time. In the last ‘}‘\;vm'\_!\:\: AmCanwyi..... whole list became demoralized. = ! Am Can pf (7). . port w hdrawn and stoploss, O ‘Am CaraFdy (8) ders wer t right (-u‘v‘ - the de.|AmChain A (2). nly given + pools, | Am Chicle. .. ... collapse in certaln po ; Am Chicle ctfs. . the lust month or so 4m o on the bull | LUE- had been car | e ide with too h a hand. The losses | For ran all the way from 4 to 10, and ev 15 points, and there was only a small | iirlspate pet: recov at the close |Am Ice (110) . Food Stocks Weak. Am Ice ptd (6).. Shares of food products companies | Am Internatl. . { Am La Fra 5 continued to refiect the disappoint- | 1% 12 Tean () ment at the rupture of the (0, 4| Am Linseed. ... twee he Postum _Cel and. Co n e eeking. . The interpretation | Am Linsd pf(7). commonly put on this n‘.m"; ““:'k | that the promoter: e _expert- With the baking combination, | 4 1“4:‘:(: ;—;;:;)) were aid of what the (v;o\m‘n'nm::j el o] might do. Cal Packing OF st | Am Sufety R (3) 1ime was off 3 s on LR O ater | Am Ship & Com. i h. Bul ff ariAm Sm& Ref (1! the stock rallie um was oft At LSS R pf (1) ona stage over 20 points from its tob. [0 e 3T Vew York Canners were very weak (% GhuE (B Am Stl Fdys (3). {Am Sugar (5). .. Am Sugar pf (7). Am Sumatra.... Am Tel&Tel (9). Am Tobaceo (8). Am Tobac B (8). Am Typ Fdrs(8) Am Type pf (7). {Am Wa Wo 11.20 Am Woolen Am Wool of (7). Am Writ Pa ctfs Am: Zinc. s Am Zinc pf. Anaconda (3)... |.-\rrher-Danle¥a. Arch-Dan pf (7). Armour,Ill A (2) Armour.Ill (B).. Arnold Con (n) Artloom (3) { Asso Dry G(2 Asso Oll (2) Atchtson (7).... Atchison pt (5). At1Birm & At. .. 1 Coast L (19). AtlGuit&W I... Atlantic Refing Atlas Tack. ichols. Austin Nic pf(7). Auto Knitter. ... Baldwin L (7).. Balto & Ohfo(5). Bal & Oh pf (4). Bang & Ar (3)... Bang & Ar pf(7). Barnet Leather "Fhe main cause of the selling was|Barnsdall A (2 that speculators had become [right-| Barnsdall B (2).. ened. They saw a specialty like De-iBayuk 1st pf (7) voe Raynolds crash down 44 points| Reach-Nut (18). in a single week and add sther 10| Belding Bros(3). points to the loss in the trading this | Bethlehem Stl. Thorning. Here was a stock paying |Beth Stlpf (7). dividends of only $§2.40 which was | Beth Stlpf (8). pushed up to 104. Instead of anything | Booth Fisheries. happening in the way of dividend Botany A (4). creace, the annual statement showed | Briggs Mfg (3) earnings applicable to the stock of | Bkl Edison (8). ly a little over i Bklyn-Mn Tr(4). SIS , Bk-Man T pf(8). Late Market Weak. Bkyn Un G(4).. < the afternoon went on the down- { Brown Shoe (2). wors movement hecame more weneral. | Brunswick-Balk Some of the steel stocks were off 2| Brunswick Ter.. points or more, athough in their in { { reason « cline was th which durir ow. . Am&F Ppt (7). Am Hide & Lea. . n Loco (8). ... Am Metals (4). . et in the industrial section to numerous other “.m&-:‘: G al Motors anc udsor haavile sold, Westinghouse Ilectric ‘me down in sympathy with General Electric i'umh\‘x-«'lm\ opped over gom- Typewriter fell 2 0il Shares Stronger. better than the| ze, but they were most of them | There was plenty of As: 1 for sale a half-point 95 level ch represente d by banking syndi freely offered, discounted the favor atement. Operations | e in Philips Petroleum were | extended il shares held er lowe ed ( der th the price ate. havin able ea for the rl checked. It was a distin the Street when t did nothing more than declare regular quarterly dividend and was reflected in the stock. Steel Common. was persistently \d other members | o the steel group were most of them | Tecer wvorites among the | utilities bore their share in the ' movement, stocks like Ameri-| can Water Work: 2 and Philadelphia Co way shares weptewith the rest. Northern Pacific sell a point, Atchison dropped below | 130. the t disappointment to e Dupont direct thy this Selling in Steel common pressed for s 50. Burns BI'OB(\Q)' . sty 3 e had been no question of { Burns Br 2).. e ation being overdone. The truc | Bur Add Ma (3). SPneom was that the steel trade re-|Bush Terminal.. borte of the last month have not been | Butte Cop (50¢). P itactory. A big business has been | Butte&Super(2). Sone, but buyers have felt that they | Butterick. Sl ‘commiind of the situation and | Byer &Co. sstully opposed any ralsing | c.ddo Central. .. Calif Packing (6) £ Petrol (2). Callahan Zinc. . - Calumet & Ar 4). lumt&H(1%) . Case Threshin, Cent Leather.. Cent Leather pf. week by week the | steel pri average has geen coming down, so that it is now low in com- parison with the prices prevailing during the greater part of last year and very low in comparison with the quotations of two vears ago The low prices on the Stock Ex-{Century Rib (2). change were reached in the last hour. | Cerre De P (16). A number of stocks sold at their | Certain-Teed (4) lowest of the yea United States | Chandler (3).... Steel was one ese, Baldwin was |Chandir-Clev(n). another, Ame Locomotive an-|Chand-Clev pref. other. { Chesa&Ohto (4). General which had with- | Ches&O pf (6%4) stood the on Saturday and |Chi& Alton.. had gone up rather ularly ’Chl&.sl!on pr. against the market, broke (;hl&l‘_flsl {llpf, The decline in the industrial section | (;;:ig:‘!&}e\:‘e;‘l reached in some quarters the propor- r tions of a collapse Chi MI1& St P.. CM&StPetfs.. Chi Mil & StP pt C Mil&StP pf cfs | Chi & Nwn (4).. y Increase Up | Chi & Nw pf (7). | Chi Pneu T (5).. ChiR1& Pac CRI&Ppf(6). CRI&PDL (D). | Childs (32.40) ... { Cntie Cop (2%) . Christie Brown Chrysler Corpn. . Chrysler pf A(8) Cluet Pea pf (7). Coca-Cola (7). Col Fuel & Iron.. Colo Southern. .. Col G & E (2.60). Col G & E pf (7). Col Carbon(4)... l | Coml Cred (1%). Com Inv (3.60. Markets at a Glance | Icom On the contra Blectr selling MARK CLOSES WEAR. Selling Orders Stead to Finish. NEW YORK, February 15 (®)—The | closing was Wi With selling or ders i in volume. prices of many industrial shares con tinued to melt away rapidly in the final hour. Ge ral Electric broke mote than 15 points, American C: o Mathi i about 9 points ea~h and South Rico Sugar, Allied Chemical, h, American nd International Combus. ring from 5 to 7 Tot; mated 0,000 shares. | Com In Tr pf Com So!v A (4). Com Solv B h- | Congoieum-. points. kened change | cent Consol Cigar.... ‘on Cigrs pt (7). Consol Distribut Consol Gas (5).. onsol Textil Cont Can (16) . | Cont Insur (8) i Cont Mot (80c). . ~. | Corn Prod (2). }|Coty 1ne (4)..... Crex Carpet (4). Crucible St! (5). Cuba Cane Su. | Cuba Sugar S of. | Cuba Co (4)..... Cuban-Am S (2). Cuban Am pf(7). | Cuban Domin. | Cuban Dom pt. .. { Cudahy Pkg (7). | Cushman’s (3).. Cuyamel Fr (4). | Davison Chem. Del & Hud (9). Del L & Wn (7). DRG Wstpf. Detroit Ed (8) | Devoe&Ra(2.40). Dodge Bros Cl A. Dodge pt (1) Dome Mines (2). Douglas Pec (1). Dupont (113).... Dupont deb (6).. Eastman (18). Eaton Axle (2).. Eisenlohr & Bro. El Auto L(16%). Electric Boat.... Elec Powr & Lit. . EIP &Lt (1).. glec Sto Bat/16) Bonds ir by profit mixed; takin, Danish kroner ¢ Cotton lower; commission house sell ing. Sugar easy; lower spot market. Coffee steady; trade buying. CHICAGO.—Wheat advanced pathy with Winnepeg. Corn increasing _stocks. Cattle choice grades firm. Hogs higher. LIGGETT SALES GAIN. W YORK, February 15 (#).— Ja ry sales of Louis K. Liggett Cc snbsidiary of United Drug Co., we £3,894,913, a gain of $575.870 over January RAW SUGAR ADVANCES. W YORK, Februs 5P sym- ent today to the ba duty paid. Sales reported were 54, )ags of Cuban for February shipment. TYPEWRITER'S NET UP. NEW YORK, February 15 (#).— Net income of the Royal Typewriter Co. for 1925 advanced to $1,019,692 from § 0 the vear before. This is equal after 7 per cent preferred dividends to a share on the com- mon, against $2.29 a share in 1924, CLOTH UNCHANGED. NEW YORK, February 15 ul.—Cotton goods wuict today, with quotat inchanged. Print cloths were t 58 for 6ix60s, and 10 for iaw silks were ymerson Brnt. “ | @mmerson B pf. d John (3 irtle RR.... ¢ 'shade ‘easler in o | Bt 16t b Open. High. Low. 824 104 1T% 111% 134 8 137 121% 91% 824 104 1% 111% 13% 8 137% 121% 9L%4 109% 81% 904 80 Bl 104 104 17 1 10 110 13 8 131% 132 % 216% 56 104% 15% 26%% 91 2 115 8944 69% 43% 99% 54 30% 26% 100 64% 87 46 103 117% 21% 36 % 142 36% 2 61% 15% 89 19 65% 21 67% 47% 45% 25% 454 1184 122% 11 164 481 10% 26 18% 12% 19% 19% 73% 120% 110 50% 88 9974 62% 85% 60 48% 2 1054 " 102 1074% 150 36% 60 843 114% 61% 36 70 97% 149% 140 20% 66'% 4% 102% 3% 86% 187 124 40% 53 44% 10% T 38% 83 140% 63% 85 76% 44% 29 12% 189% 424 86 21% 6% 14% 21% 33% % 137% 34% 2 59% 15 86 18% 64l 20% 66% 46 45 2316 43% 17 122% 10 14% 48 10% 26% 13% 124% 19% 18% 72 1201 109 481 88 991 62% 35 561 47% 1054 107% 145% 35 60 8% 114% 59% 345 70 9734 145 137% 19% 644 102 4 100 314 838 137 12 40 521 40 7% 10% 5% 48% 27% 104 3% 21 91 87 4% 42% 164 145 46% 1864 4 42 86% 18% 22% 222 102% 109% 30% 1% 6% 6% 31 96% 71 3% 19% 63% 25l%. . 42% Close. 1 13% THE EVENING Open. 41 49% 564 116 120% 87% 9% 87 198% 18 42% 97% 234 113% 63% 156% 7% 26% 40% 8% 52 654 . 106 12y 57 879 Erle 2d pf % Eureka Vac (4).. Fairbks (2.60) Famous Pl (8). mous pf (8).. FedLight(®1.40). Fed Min & Smelt. Fed Min pf (7).. Fid Phoenix (6). | Fifth Ave (64c). First Nat Stores. Fisher Body (5). | Fisk Rubber. ... Fisk R 1st pf (7) Flelechmn(new) Foundation (8).. Fox Film A (4).. Freeport-Texas. Gabriel A(13%). Gardner Motor. . Gen Am Tnk (3). Gen Asphalt. Gen Asph pf (5. Gen Cigar (8). Gen Cigar w i Gen Electric (8). GenFl spec(60c). GenGas A (134). Gen Motors (7). Gen Mot vf (1) Gen Outdr Adv. Gen Outdr A (4). Gen Petrm (3). GenRySIg(t4%). Gimbel Bros. Glidden (2)..... Gold Dust = Goodrich Ru (4) . Goodyear pt (7). Gotham S H 2. Gould Cou (2)... Granbv Consol. . Grt North pf (5) Gt Nor Ore(1%). Grt Wstn Su (8). Green Canan. Guantanamo. Gulf Mo & Nor. GuM&N pf (6). Guif States S (5) Hartman (2%). . Hayes W (133 ). Homestake (16). Househd((13%). Houston Ofl. . ... Howe Sound (2). Hudson Mn (2%) Hud Man pf (5). Hudson Mot (3). Hupp Mot (1).... Tiltnots Cen (7). Indep Of (1). ... Tnd Motrey (50c) Indian Mot pf(7) Indfan Refining. Indian Refg otfs Inland St (2%) Inspiration (2) Interurb Rap Tr. Intcontal Rubber Internat Agri. .. Int Az pf pf (7). Int Bus Mac (8). Int Cement (4).. Int Com Eng (2) Internat Har (5) Inter Har pf (7). IntMatch pt 3.20. Int Mer Marine. Int Mer Mar pf Int Nickel......1 Inter Nick pf(6) Int Paper. Int Ry Cen Int Tel & Tel () Jewel Tea. Jones Bro: 5 Jordon Mot (3).. Kan City South.. Kayser J (3).... Kelly-Spring. . .. Kelly-Spring 1st Kelsey Whi (6). Kennecott (4). Kresgs (S S) new Laclede Gas (8) . Lee Tire & Rub. . Lehigh Val (33) Leh&Fink ctfs 3. Lifesavers Lig& My B (14). Liggett & M (14) Lima Loco (4) Loews Inc (2).. . Loose-W 3d (7). Lorillard (8). ... Louisiana O11 Louls GasA (1.76. Louis & Nsh (6). Ludlum (2) . McCrory B $5.60. Mackay pf (4) McIntyre P (1).. Mack Trucks (6) Mack T 1st (T) Muckay (7). Macy HR & Co. . Magma Cop (3). Mallison & Co. Manila Elec (2) .. Man El Sup(3%) ManEmdg (5). Man-Elev gtd. Man Shirt (1%). Maracalbo Ofl. .. | Market St prior. Market St pf.... Marland Oil (4). Martin-Parry (2) Mathteson (4)... Metro G p? 1.89. . May Dept St (5). Maytag (2) Mexican Se: Mtami Cop (1) Mid-Continent. . Mid-Cont pf (7). Midland pf (39). Middle States. .. Minn & St Louls. Min St P & SSM. Mis Kan & Tex. . MoK & T pt (5). Missouri Pacific. Missourt Pac pf. Mont Power (4). Mont Pow pf (7) Montgom Ward. Moon Mot (3)..... MotherLode (75¢: Mo Plcture(114). Motor Met (3.60) Motor Whi (2).. Mullins Body . . . Mullins B pf (8). Munsingwr (3). Murray Body. Nash & Chat (7). Nash Mot (t17). . Nat Acme (sta). Nat Biscuit (t4) Nat Cash Reg A. Nat Cloak (4) Nat Dairy (3 Nat Dpt Stor Nat D St 1st Nat Distlller: Nat Distillers pf Nat Enamel & S. Nat Lead (8)... Nat Pow&Lt 40c. Nat Ry Mex 2d.. Nat Supply (3) NatTea (4)..... Nevada Cop (1). NY Air Brake(2) N Y Air Br A (4) N Y Canners (2). N Y Central (7).. C&StL(6). NY Rys part cfs. *NY Rys pft cfs 350 NY Steam pf(7). Norfolk South... 35% | Norfk & Wn (18) 151 North A (B3.40). 64 North Am pf (3). 50% NorthAmEd pf 7. 93 Northn Cent (4). 79% North Pac (5) 2% Norwalk (1.60).. 13% Of1 Well Sup (2). 88% 19% 97% 32% Omnibus pf (8) Onyx Hoslery Oppenheim (3).. 56% Orpheum Cir(2). 29% Otis Elevator(6) 126% Ot teel. 13% Otis Steel pf.... 1034% Outlet Co. ... 49% Owens Bot (4) . 66% Pacific Coast. 36% Pucific Gas (8).. 130% Pacific O11(3)..... 83%. Packard Mot(2). 39% High. 41 49% 567 116% 120% 37% 9% 87 193% 18 43 97% 23% 113% 53% 1664 1% 26% 40% 8% 52 66% 106 1n3 57 379 1% 55 Low. 39% 47 55% 113% 119% 36 9% 87 193% 18 1% 9% 22% 112% [ 154% 76 24% 39% 8l 50% 62% 106% 112 57 365 1% 55 122% 114% 324 55 547 74% 68% 23 504 6315 106 40 20 21 3% 26% 100% 13 8% 31 100% 8214 32% 43% 56% 45 6614 31 8% 2% 1 25% n7 28% 22% 100 4 12% 1% 3813 26 35% 207% 231y 914 144 66 50% 127% 121% 61% 11 43 41% 102 56 30% 124 81% 164 57% 43% 43% 18% 704 116% 58% 76 160% 1315 £l 36% 20 8115 8374 60% 38% 8% 130 3874 16% 26% 130 49% 110 72 28 138Y% 110% 134 100 43 25% 314% 6919 83% 14% 1% 36% 14% 176% 610 1% 854 47 47 62% 39 95% 23% 60 834 164% 31 2% 59% 226 18% 42% 69 62 127 1711 39% 41% 26% 16% 350 101 35% 148% 63t 50%4 9 79% 1% 18% 33 18% 973 821 , 56% 29 124% 18% 108% 49% €5% 49% 66% 364 130'¢ - B3% -39 1 NEW YORK STOCK EXCHANGE Received by Private Wire Dire:t to The Star Office Close. 39% 47 55% 113% 119% 364% 9% 87 193% STAR, WASHINGTON. Paige Mot(1.80). Pan-Amer (6 Pan-Amer B 22 66 674 a1y 8% 5% 25 8% 3% 17% b1% 16% 1% 126 24% 61 69% 42% 9%, 6% 25% 8% 6% 18% 62% 15% 1% 129 22'% 664 46% 19% 47% 87 102 1% 6% 41% 9615 53% 24 66% 67% 41y 8% 9% 25 8y 74 17% 51% 16% 1% 126 22 65% 46% Park & Tilford. . Park Utah (60c). PatLe ExClA... Penick & Ford. Pennsy RR (3). Penn C & Cke.. . Penn-Seab Steel. Peoples Gas (8). Peorla & East. .. Phila Co (4). Phila& RC&I.. Plerce-Arrow. . Pierce-Arrow pf. Plerce Otl....... Plerce Petrol.... Pitts Coal. .. ! Pitts Stlpf (7). | Pitts Term Coal. Pitt Ut pf $1.20.. 16 Plits & West Va. 1128 Postum (4.40) ... 106 Press Steel Car. 64 PrStCarpf (7). 90% Prod & Reflners. 15% Pub Ser NJ(5).. 6% Public Servrts.. % Pullman Co (8).. 166% Punta Aleg Sug. 43% >ure Ol (2)... 29% 43% Radlo Corpof A. IRy St Sppf (8).. 121 RSTICefs (4). 6 Ray Cons Cop... 12% Reid Ice Cm (3). 61% Reading (4). 87% Reading rts..... 21% Remington Type 117% | Replogle Steel 13% Rep Ir & Steel. .. Reynolds Sprngs Rey Tobac B(4). Itobt Rels & Co. . Rossta Ins (6) Royal Du(a1.33). fety Cable (4) 1 St Joseph L(13). StL & SanFr(7). St L Southwest. Savage Arms(4). Schulte (§8). ... chulte pf (8)... | Seaboard Alr L.. Seabd Alr L pf.. Seagrave (1.20). | Sears Roebk(6) . Seneca Copper. . . Shattuck F G (2) Shell Un (1.40).. Shubert Theatre Stmmons(12.25). Stmms Pet (1).. Sinclatr Ofl. . Sinclair pf (8) Skelly O1l1 (2)... 88 Sheff (6). . 1oss-She pf (7). i South Pac (6)... South Port 8 (6) Southern Ry (7). outh Ry pf (5). Spear & Co Splcer Mg . Std Gas & El (3). Std G&EI pf (4). Stand Mill (5) St Ol1 Calif (2).. StONINJ (1)... StOIINJ pf (7). Std Plate Glass. Sterling Pro (4). Stewart War (6) Stromberg (6).. Studebaker (16). Submarine Boat. Superior O1l Symington Symington A(2) Tenn Copper (1) ‘Texas Co (3). Tex Gulf S (8).. Tex & Pacific. Tex & PacC&O. The Falr (2.40) Third Avenue Tide Water (1). Tide W OIl pf(5) Timken R B (14) Tobac Prod (8) . Tob Prod A (7). Transcont Oll... | Underwood (t4) Un Bag & Paper. Union Of1 (2)... Un Pacifie (10). . Un Pacific pf (1) Utd A1 Stl (50¢). UtdCigar(*3%). 96 69 87 131 17 44% | Pt 131 214% £t 631 26% 56% 62% 264% 284 24 31 12214 101 1007 127 114% 20% 17 28% 624 57 8015 58% 4| United Drug (7). 197 46% 83% 14% 91k 361% 4% 175% 610 11% 85% 4% 47 66% 39 95% 24% 60 231, 164% 31 2% 59% 225 13% 42% 659 62 127 171y 89% 41 26% 164% 350 101 364 148% 63% 501 93% 79% 72 18% 834 19 97% 32% 656% 29% 124% 18% 103% 49% 65% 36% 180 | Utd Drugl1st 3t4. Utd Fruit (112). SCIP&F(10). CIPDf (D). Distributing Hoffman (3). Ind Alcohol. Ind Al pf(7). Realty (n).. Rubber-..... Rub 1st (8). Smelt (3%). Sm pf (33%4). Steel (+7) S Steel pf (7). U S Tobacco (3). Universal Pip Univ Pipept (7). Util PEL A (2).. Vanadium (2) Vick Chemical Va-Caro Ch ctfs Va-Car Ch(n)w 1 Va-Car Ch 6%pf. Va Iron Coal&C. Vivaudou. Vivaudou p! Wabash. ... Wabash pf A (6) Wwaldorf (1%). . Walworth (1.80). Ward Baking A. Ward Baking B. Ward Bak pf (7) Warner Bros. ... Warren Bros(4). Weber (4) West Marylal West Md 2d pf... West Penn El A. Western Pacific. West Pac pf (6). Western Un (8). WesthseAB(17). Westinghse (4). Weston Elec. Wickwire ctfs. Wheel & L Erle. . Wheel & L E pf. White Eagle (2). White Mot (4).. White Rock{1.80. Willys-Overland Willys-0d pf(7). Wilson Co ctf: Woolworth (5) Worthn Pump. .. wright Aero(1). Yale&Town (15). Yol T &C (750). 30 Yol Tr&C pt (7). 95 % 9 Youngstown 4). 83% 82 82 v d rates given in the above table i e T e Cokherwise hoted. extra or special GIVi: dends are ml "ICl“dN‘b Foarilae inate: ar : optlanat 1n stowk " SPartly stock. 1P T Ao bayabie’ T cuatiers &% 10 205 SaYa0ie 1% ' Guarteriy. SMALLER OIL OUTPUT PREDICTED THIS YEAR NEW YORK, February 15 (P).— World petroleum production probably will decrease in 1926, Edward L. de Golyer, president of the Amerada Petroleum ,Corporation, said today, addressing the 133rd meeting of the American Xm;:ut;‘le of Mining and Metallurgical Engineers. An exx!pected increase of 10,000,000 barrels in Venezuela, between 6,000,000 and 8,000,000 barrels in Columbia and increases of a few million in Peru, Russia and the Dutch East Indies probably will be offset by considerable decrease in the United States and Mexico, he predicted. Oil production in the United States increased approximately fifty million barrels in 1925, to a mnew peak of 755,852,000, he said. Petroleum pro- duction for the world in 1925 also established a new high mark estimat- ed at 1,066,208,894 barrels, represent- | ing an increase of 53.2!19.2824 b;;ra‘ls, 5.2 per. cent over 1924, and 4.6 cent_over 1923, the previous 5084 1% 2244 6812 43 30% 100 46% 73% 18% 21% 170 63% 110 15% 48 66 156 22 96 36 9% 142 119 5% 17 2% 26 47 28 854 6 30% 9% 9% 4% 4% 200 200% 39 39 28 28 62% 62% 30 224 172 64% 110 16% 48 87 164 22 86 36% 80 1431 12214 1% 1% 25 28 a1y 29 86 36 307 984 4% 204% 40 82% 62% 30% 109 48 66 15 22 96 35% 9% 142 119 5% »n 2% 26 47 28 85% 36 30 Peak | punta Alegre 75 D. C. MO 24'1.‘ [=m=von BONDS Received by Privatc Wire Direct to The Star Office UNITED STATES. (Sales are in Sales. His Lib33s... 599 Lib 1st 43%s 24 Lib2d 4%s. 326 Lib3d 4%s 165 b éth 432 243 US4s 1944 17 USd%s’52 13 101 102 Argen 6s Ju'ss. .. Arg ot '69. Argentine 6s A Argentine 6s B Argentine 7 Australian bs. . Austria 7s, Bank of Chi Bank of Japa Belgium Belglum 6% Belgium 7s. . Belgium 7% j Belgium 8s. . Berne 8§s 49 43 23 12 26 .98 5 ce g 13 65 8 . 50 1% Canada 5s 1931 Canada 53 1952 | Canada 5348 192 Chiie 75 1943 .. Chile 85 1926. . Chile 851941. . Chlle 85 1946. ... Chinese Gov Ry bs. Christiania 8s. . Con Pow Japan 7s. Copenhagen 5%8. Czechoslo 7% s rots. Czecho 88 1vol. . Czecho 83 1952 ct... Danish Munic 8s B. Denmark 6s. B DE15%s Mch '53. Dutch East16s'47. Dutch East 1 65'62. El Salvador 85 '48. Finland s f 6345 Finland 78 GermanEIP8%s.. 2 German 7s........ 121 Ger Agr Bank 7s... 68 Ger Gen Elec 10 Haiti 6 Pi6; Hungary 8%s..... 16 itdly 77s. .179 Japane: - 27 Japanese 648 Jergens U M 65°47. Lyons ceseane Marseille 6s coee Mexico 45°04 asn*d. Mexico 45 10 asntd Mexico bs agsented. Montevileo 78 . Netherlands 6s Netherlands 6s'72. Nord 6%5 Norway & Norway Norway 68 1944. Norway 68 1952. Ortent Dev deb 6s. . Parls-Ly's-Med 6s. Paris-Ly's-Med 75. Paris Orleans 1s Peru 88 Poland 6 '4! Poland 8s. . Porto Alegre 8s. Prague7%s. Queensland és. Queensland 7s. Rio de Jan 8s 1948. Rio de Jan 85 1947. Rio Gr Do Sul 8 Sao Paulo City 8s.. ! Sao Paulo 1960 Saxon P W 78 | Selne Dept cf Soissons 65 Serbs Crot Slo- Sweden 5%s ct Nweden 6s. .. Swiss 5% s 194 Swiss Confed 8 Toklo 5s. ... Ud Kingm 5% '29.. Ud Kingm 5%s '37. Ud Steam Copen 65. Uruguay 8s . Zurich 8s. . 26 Asax Rubber 8s. .. 20 Am Agri Chem 7%: Am Chain 6 L Am Cotton s AmSmit& R 1st Am Bug ref 6 AmT&Teltr4 AmT &Tecltrs AmT&Ts 1 AmT & T deb 5%s.110 Am Water Wks 68 Anaconda 1st 6s. Anaconda cv db 7s. 62 ‘Andes Cop 78 rcts.. 37 Armour &Co 4%sr 3 Armour Del 6338. .. 42 Associated Ol 6 4 Atlantic Refin 16 Barnsdall 6s ctfs. ..123 Bell Tel Pa 68C... 59 Beth Steel p;nsfis 4 Beth Steel rf 8. Path Steel 5%8'63. 51 STinienem Steel 65 104 Brier H St 15t 5%s. Bklyn Ed gen 0s. ... Brookln Union 5%$ Calif Pete 6148. ..« Cen Leth 63 '45 cfs. Chile Copper Col Gas & El b8 Col Gas & 1 58 Commonwth P 6 Con Coal Md 1st b Con Gas NY 6%s. Consumers Fc Cuban Am Sug 8 Cuba Canecv 78 Cuba Canecvd 8s. Denver Gas &8 Dery (DG) 7 Det Edison 58°40. Det Edison ref 68 Dodge wi6s. ... Duq L & P 5%s'49. Duquesne Light 63 Het Cuba Sug 7%s. Empire G & F 1% Fisk Rubber 8s. Qoodrich 6%8. . Goodyear 8s 1931. Goodyear 53 1941.. Hershey 5%s. Hoe & Co 6%58. . Humble O & R 5%s8 1llinois Bell 1st b8 Lllinols Steel 4 %3, Indiana Steel 58 Int Mer Marine Int Paper 558 '47.... tnter Paper 68..... Inter T & T 6%8 KCP&Lt6sA'52. Kan G & El 6s°'62 Kelly-Spring 8: Lackawa S 5 g Laclede G 5%s'63. Liggett & Myrs 7 Lorillard (P) bs. Loulsv G & E ba Manatl Sug sf 7%s. Mid-Con 6%8'40... Midvale Steel 5s. Montana Pow 6s. Mor’s & Co 15t 4 New Eng Tel b N Y Edison b8 .18 58 15 .21 10 3 N Y Tel 65’4 North Am Ed North Am Ed é Nor Ohfo T & L Nor States Pow Nor States Pow 6 Otis Steel 7%! Phila Co ref 68 A Phila& RAC&15s Pierce-Arrow 8. Public Service Pub Serv Elec 6: P Berv Gas 5%s’59 Sery Gas 5148’64 12 100 30 100 26 1026 1024 100 26 100 24 1043 1042 107 23 10723 FOREIGN. Sales. High. Low. 5 101 101 6 108 DAY, $1.000.) gh. Low. 100 31 10! 16 10213 984 98% 99 98t 101% 9% 101% 97% 100 87% 94% 97% 110% 108 1074 100 86 93% 103% 101% i 103 102% 102 102% 98Y% 98% 95 98 102 98 101% 974 100% 8% 9a% 97% 110% 108% 1075 1004 86 MISCELLANEOUS. 104 1044 104% 1043 100% 964 96% 100% 100 104% 10387 978 9T% 1017% 101% Yo% 99% 1044 104% 96% 96% 103% 103% 107% 106% 102 101% 91% 9lis 95% 95 102% 102% 100t 100% 101 100% 102% 102y 95 95 99t 994 9218 92% 99y 988, 102% 102 195% 103% 133% 13: 108% 108's 100% 100% 100% 100% 104 103% 8% 85% 105% 106% 100 99% 109% 109 95% 95 100 99 Y6% 944 - 89 89 102% 101% 1073 107% 96% 96 106 105% 106% 106% 108 107% 1025 102% 116% 1164 106 106% 110% 1105 121% 120% 1004 99 99 102% 1024 102 102 96% 964 104% 104 89u 88% U% 9% 99% 99% 113% 112% 1014 101% 1034 103 106% 106% 97% 9% 103% 103% 121% 120 100% 100 987 98% 1025 102% 104 103% 9% 94% 1014 100% 8715 874 1024 1024 102% 115% 116% 109 1084 103% 103% 104% 104% 4% 94 99 98% 106% 106% 102% 102% 107% 107% 99% 994 101% 101 107% 107 100% 100% 104% 104% 102 101% 107% 107% 1 102% 107% 107% 105% 105% 104% 104% FEBRUARY STOCK EXCHANGE | Close. 100 28 1024 100 25 1 102 15 1043 107 23 Close 98% 98% 99 98% 101% 97% 1014 9% 100 874% 943 974 110% 108% 107% 100 86 93% 103% 1017% 103 102% 102 102% 109 109 48% 110% 92 99 103 98% 102 88% 9415 99% 112% 101% 103 106% 97% 103% 120 100% 98% 102% 104 96 100% 8735 1025 103 116% 90% 97% 109 103% 104% 9% 99 106% 102% 107% 99% 101 107 100% 104% 102 107% 102% 107% 105'% 104% 5 109% 109% 109% Sales. High. Low. Close. 3 1 3 390 12 66 4 2 46 11 11 { Remingtn Arms | Rep Ir & Steel bs. Rog Brown Iion Sinclar Ol 6; Sinclair Ol 6% Sinclai Ol1 7 Sin Crude Ofl 65. Sin Pipe Line 5s. Skelly Ofl 63%s South Bell T = Bouthwest Bell s Sug Est Orlent 7 Tenn Elec Pow 6 Toledo Edn 1st 7 Union Bag & P 6s. . { United Drug 6s. ... U S Rub 18t rf 6s. . U S Rubber 7%s USSteelstba. ... Utah Pow & Lit bs. Vertlentes Sug 7s. Warner Sug 7s '39 Warner Sug 7s *41. West Elec b5 Westn Union Westinghouse 7s. . Willy=-Ov 615 '33. Wilson & Co 1st 6. Youngstn S& T 6s. 33 Atchison gen ¢s. Atlantic C L cl 4 Atlantic C L 1st 4. Atlantic CL 7s. I imp 6s. & O PLEWYV ¢ B & O Toledo 43 Bklyn Manhat 6s. . 118 Buff R & Pitt 434s. Can Nat 4735 30 Canad North 6ls Canad North 7. Canad Pac deb 4. Car Clinch & O 5s Centof Ga bis. . Central Pacfic 4s. Cent Pac 1st 65 '90. Ches& O cv 4%s. Ches & O gn 41gs. Ches& O cv 6s. , Chi& Alton 3%, Cal& Alt 3% s ctts. Chi B & Q 1st rf 6, CB&Q-1113%s. .. hi& E1gn 5. Chi Great West CM&StP4s25. ., CM&StP4s25cfs CM&StP deb 48 cfs. M & StP gn 4s '89 CM&StPev4lgs. ., CM&SPcvalys CM&StPrray CM&SP cv bs cfs 14 Chl& N W ref bs. Chi & N W 614s. . “hiRys 58....... ChiR1& P gn 4s. ChiRI&Pre4 ChTH&SE Chi Un Sta 5s...... Chi Union Sta bs "44 Chl U Sta 6148, Chi & W ina cn 4s. . C&WIokasz < & St L os CCC&StLrf6sA. Cleve Term bs C&S 1st 482 Colo & Sou 414 Cuba K R 58 Cuba R R T34s. .. Cuba N R 65 66. Del & Hud 1st rf 4s. Lel Hud cv 6s "3b Del & Hud 5%s. . Den & Rio G cn 4s.. D& Rio G tmp 5 D Rio G West bs Det United 4355 Erte 1st cons 4s. FlaECS5s'74...... Gr Trunk sf db 6s.. Grand Trunk 7 Great North bs. Great North 51s. Gr North gen 7s. Hud & Man ref 6s.. 17 Hud & Manaj 5s... 31 111 Cen 48 53 2 111 Central 51 | 11-C-C St L&N Int Rap Tran 5s... 155 Int Rap Tr 6s stpd. 71 Int Rap Tran 6s. Int Rap Tran 7s. Int & G Nor 1st 6s. Int & G Nor aj 6s. Iowa Cent 1st 5s Kan City FtS 4s. Kansas City S 3s. Kansas Ciy S 5s. Lake Shore 4s Lake Shore 4s "31 Lehigh Valcn 4s. L &N 415 2003. Louis & Nash 7s. Man Ry 1st 48 90. Market St 7s 40 AMil El Ry & L 5s. M&StL1strf4s.. M StP & SSM cn 4s. 10 MStP&SSMenbs. 1 MK&T4sB...... 7 MK & T adj 6s.... 106 MK&TprinssA. b MK&T6SC...... 6 Mo Pacific gen 4s. Mo Pac 55 1965. . Mo Pac 63 49 D, Mo Pac 6s 656 Mont Trm ref 5. Nassau E Ry 1s N O Tex& M in N O Tex & M 53 B. NGT&MbYs. N Y Cent 45 98. N Y Cent deb 45 N Y Centri6s. N Y Cent deb 65 NY Cent LS ¢l 3%. NYC&StLdb4s. NY Chi&StL5%s A NY Chi&StL 5%s B NYC&StL6sA.. New Havd 4s'57... 1 New Havencd 6s.. 11 New York Ry aj 5s. 11 N Y Rys 63'65.....419 NYW&Bos4ls.. 17 Norfolk & W cv 65. 50 Northern Pac 3s... 26 Northern Pac 4s... 13 Northern Pacbs D. 38 Northern Pacr1 6s. 18 Ore & Calif 1st5s.. 5 Ore Short Liref 45.. 10 Ore-Wash 1st f 4s. 94 Pennsyl con 4%s Pennsyl gen 4%4s. . Pennsyl gen b: Pennsyl 5564 Pennsyl 6% Pennsyl gold 7s. Peoria & E Inc 4s. . Pere Marq 1st 5s. PCC&BStLEsA.. Por RL &P 6s°47 Port RL&P 7%s 46 = B0 SRaRE R LEENN RS RIATk&L 43, St L IM&S 48°2y St L IM&S R&G StL&SF pl4sA..100 StL&SFprinbs. 12 5%sD.. 84 8 StL S Woon ¢s'32, StP & KCShL 43, SanA&Arn P ds.. Seab A Liref 4s Seab A L adj 6. Seab A L con 35 Seaboard All Fla 6s. 13 SouPac4s'29..... 16 Sou Pacificclt4s.. 2 Sou Pacific ref 4s.. 26 Southern Ry gen 4s 27 Southern Ry 1st 6s. 12 Southern Ry 6sect.. 10 7 13 10 .10 36 86'% 29 2% 111% 90% 7% 101 0% 127% 102% 102% 97 103% 109% 6 105 105% 9444 107% 106% 46 RAILROAD. 15, 1926. 86 99 2% 109% 90 964 101 90% 124% 102% 1024 97 103% 109 105 1065% 94 107% 106 96 9615 8845 99 100% 112 106% 102% 100% 102% 90% 921y Y3% 1057 78 694 91k 95 95% 103% 108% 105% 10035 971, 844 100 96 1044 100 112 % 107% 108 us 38% 10234 101% 997 107% 95ty 7814 9ty 96% 90% 79 95 100% 94% 87% 102% 84y 2% 87% 85 8% 844 95% 984 7% 87 1% 82% 105 1071 2% 2 9% 91 FINANCI PRICES CONFUSED | IN'BOND MARKET! Railroad Liens Quiet—O0ils Forced Down—Selling in Industrial Group. 86 29 2% 109% 90 96% 101 90% 124% 102% 1024 97 108% 109% 105 105% 9414 107% 106 96 97 8843 99 100% 12 106% 108 100% 102% | BY GEORGE T. HUGHES. Special Dispatch to The St NHW YORK, February 15.—Price changes in today's bond market were highly irregular. This applied equally to investment and speculative issues, some in each group advancing while others were declining. Naturally variations were largest in the specu- lative descriptions, where sympath with the movement in stocks might be expscted to show itself. Perhgips the most striking feature of the day was the renewal of the ad- vance in two of the New York City tractions, the Third Avenue adjust- ments and the New York Rallways 6s. Both of these rallied & point or more from the lows In the reaction of last week. Interborough 6s and 7s notes s0ld off, the former a point and a half and the latter a half point, and Hud. son and Manhattan incomes dropped back below 81. The feature in the investment list was another new high record for Lib- erty 314s, In continuance of the sur- prising movement of last week, in which prospect reduction of surtaxes was _entirely ignored. The buying in the 3148 stood out because there was no corresponding demand for the other Liberties, or for the Treasury 4s and 11, Trading in the first mortgage rails was in small volume, and net changes in the middle grade issues were slight, but in general recent quotations were well sustained. WHEAT PRICES RALLY AFTER POOR OPENING World Shipments Larger Last Week, Figures Show—Corn and { Oats Are Easy. { | By the Associated Press. CHICAGO, February 15.—With Liv- erpool prices lower than had been looked for, the wheat market here| underwent an early setback today World shipments were 3.476,000 hush els larger than a week ago. and Prit-| ish flour malls were reported to be contemplating a week’'s shutdown be- ause of lack of demand. However, { buying increased and the market showed considerable inclination to rally. Opening prices half-cent to 13 lower, May, new, 1.65 to 1.651 and July 148 to 1.48%, were followed b: a slight further drop and then by general upturn. Corn and o were easy, syvmpa- thizing with wheat. Besides corn, re- celpts today were liberal, and an- other increase of the visible supply total was expected. After opening 3 to s off, May 504 to 80%. the corn market recovered somewhat Oats started at 's to 3aly decline. May, 4ladlt% to 411 Later the market hardened a little | Firmness of hog quotations was re- | ¢ the provision market. September i E i CORN— ‘. H May July Dt OATS— May oo “Downward Trend Into March” Now Held Likely. Special Dispatch to The Sf NEW YORK, February 15.—Lead- ing brokerage houses were not as op- timistic as they had been the week precedinz concerning the immediate | { future action of the general body of | stocks. One leading Broadway firm} took the view that “subject 10 trad- ing rallies, the market indicates a downward trend into the early part of | March” and recommended the reduc- | tion of accounts substantially on ral lies. Two other h almost_equally | as prominent. took a favorahle view | toward numerous of the rail stocks, especially the hard coal carry- ing_ro while another was of the opinion that an early favorable an- nouncement concerning the Nickel Plate merger could be looked for. CRUDE RUBBER LOWER. EW YORK. February 15 (Spe-| al.—Crude rubber, standard grade, was auoted at 631. at noon today, a decline of a cent from Saturday noon. | This_compares with §5 a month ago, | and 351z a year ago. FISHER'S PRICE INDEX. NEW HAVEN, Conn., February 1. (Special).—Prices, 158 6-10; purchasing power, 63; Crumps, 144 4-10, Irving Fisher reports. (Copyright. 1926.) CALL MONEY EASIER. money ruling 1 13 low. 4%; ; closing bid, 412: of- fered at 4% last loan, 413; call loans against acceptances, 4; time loans steady: mixed collateral 60-90 davs, 4%a4%; 4-6 months, 1%a4%; prime mercantile paper 4%. i VISIBLE GRAIN SUPPLY. NEW YORK, February 15 (#).— The visible supply of American grain shows the following changes, in bushels: Wheat decreased 1,167,000, corn increased 1,362,00, oats de- creased 1,222,000, rye increased 26 000, barley decreased 204,000. TREASURY CERTIFICATES. | 4%a March 15, A58 Dl s %ip2e s June 15. is June 15. ips June 16 Third Ave ref 4s. Third Ave adj bs Tol Tr L&P 6 %8 Union Pac 1st 4s. Union Pac Unton Pac 4827 On Pac 1st rf &8 Union PAG cv 6 Virginia Ry 1st bs. 59 28% 9% 89 99% 107% 102% 101% 98% 102% 99% 100% 69'% 97 85 831 83% - 82% Wabash 5%8°75 West Maryland 112% | Whel & L Ert 4% 911 | Wisconsin Cent 4a. AL, CHAPIN-SACKS CD. TO HOLD MEETING Annual Gathering of Stock- holders Tomorrow at Rich- mond to Approve Contract. BY CHAS. P. SHAEFFER. The regular annual stockholders of the Chapin-Sacks (or poration will be held at the o Omcel{ of William & Mullen, Ame can National Bank Building in F mond, tomorrow morning at 10 o'clock to receive the reports of off cers, fix the number of directors to constitute the board for the ensuing year and elect same, and to transac other business as brought before the meeting. The directors of the compa meeting held December 30, au thorized, subject to the upproval « the stockholders, the execution of . contract of management with Soutl ern Dairies, Inc., whereby the Sou:i ern Daries, Inc., as manager, will fir nish, during the ensuing vear and ul the contract shall be discontinued the management and executive orgar ization for Chapin-Sacks Corporation and the stockholders at their annun eting wil] o « inirtiargor = oY RN It is understood that no obstacle leading to approval of this contract is anticipated by officers of the compan Trading on Local Board. Stock of the Capital Traction (v continued to display strong tone on the Washington Stock Ixchange this morning, with 61 shares chang ing hands at 107. It was held 1071, at the close, continuing tir rumors that important interest s ldenl&fifid_ with merger proceeding< are particlpating in the securi market. The ardor attending bank share transactions last week was absent this morning, Federal-American Na tional being the only active fssu which parted with 2 points from the last sale to 395. Ten shares were disposed of. Railway preferred stock was weaker selling in light volume at 80%. Like wise, Merchants’ Transfer and Storage Co. brought 122, and 200 shares o National ~Mortgage and Investm preferred brought 8%. Gas Ligit stock was quiet at 133 and §1,0 Gas 6s sold for 10234 up to 103% White Motor Co. admits an error in previously announced dates, and ad vises the stockholders’ meeting wil be held on March 19, 1926. When th proposed increase in capital stock 1o $50,000,000 is authorized by the stock holders the s dividend and rights to subscribe to the new stock will go to Stockholders of record March meeting o may . at last 1,045 Stocks on Exchange. _The Nation gasped when, in 14 first Liberty loan, amounting to $2 000,000 was announced. But so gre: has been our financial growth sin then, so vast have our resources be come, that we no longer think such a { sum huge. Thus when the New Yor tock Ixchange recently announced that the loans of members at the banks amounted to $3,513,174,154 the sum amazed no one The fundamental function of the Stock Exchange is to furnish a place where sound business needing capital can quickly and easily secure it for legitimate needs. Modern business has found the corporate form the most feasible for its huge transactions, and since 1919 there has been a marked increase in the number of corporations. With the constant need for more capital due to expanding business. more and more of these organizations come tn I!’!e market place, which is the New York Stock hange, for fur that on January 1, 1926, we find the stocks of 1,045 companies listed, ac cording to report of Sulzbacher. Granger & Co., members of the ex change, against only 612 on Januar: 1, 1919. i Situation in Bonds. arly, bonds listed on Januar v ere 1,368, against 1,131 on January 1, 1919. As business increases more corporations will be listed, more capital required. Government bonds outstandinz on January 1 last, their value not hav ing been reported. the market value of the listed securities was $70,000 000,000, & sum equal to more than three times the entire debt of the United States at the end of the World War. Against this vast amount of $70,000 000,000 the firms which are members of the Stock Exchange had borrowed £8,513,174.154 or less than 6 per cent If we include the Government secur: ties the percent becomes still smaller. The United Supreme Court has he that 6 per cent is a fair return on a) investment and in normal times suci s the case. By and large the average ield on the securities listed on the Exchange is about 6 per cent. The amount of the brokers’ loans does not ever represent a year’s income on the securities listed. GERMAN BONDS AND STOCKS. (Quoted in dolars per mi Ger Gt (w In) Hamburg 4 s Ger Gt 1-3s {forced loan) . (Quoted in dollars per thousand marki r Gen 4158 pre-war I Gen Elec 4125 1919.. Hambur r Line 4155 North German Lloyd 4735. North German Llovd.. .. Prussian Consols 334s. Krupp 56 1021 o Dustcldor{ 4 pre-war. Erankfort a-M s pre-wa Munich 4s pre-war.... Badische “Amilin A E G (Ger Ge Eiec] Commerz and Privat B Disconto Gellschaft Dredner Bank. . . Deutsche Bank. Darmstaedter Bank Mercur Bank Vienna Hevden Chemical Aust Aeg (Gen Elec) (Quotations furnished by W. B. Hibbs & Co ) Nomirial Selling checks &old value. London. pound. .. .. .$4.8665 Montreal. dollar. 2 Paris. franc. Brussels. franc Berlin, mark. . lira Zurich. fran: Athens. drachm; Madrid. peseta Budapest. crown. Prague. crown. Warsaw. zloty. - Copenhagen. crow Samreate, ckholm. crown NEW YORK, February 15 UP). Forelgn exchanges irregular. Quota tions (In_cents): Great Britain, de mand. 4.85%; cables, 4.865-16; 80-day bills on banks, 4.82. France, demand. 3.67; . cables, 3.67% . $03%: cables, 4.03%. Demand—Bel- gium, 4.54%; Germany, 23.80; Holland. §0.03; Norway, 21.03: Sweden, Denmark, 26.00; Switzorland, Spain. 140 13.60; Czechoslovakia, 1.78; Austrla, 14; Rumania, 43%; Ar. gentina, 41; Brazil, 14.75; Tokio, 45%; Shanghal, 76%; Montreal, 99 DU PONT DIVIDEND RAISED. WILMINGTON, Del., February 15 (M. —Directors of the E. I. du Pont d« Nemours & Co. today declared a quar terly dividend of 2% per cent on com mon stock, an inerease of one-half per QY& bua Jasb guarierly dividend, 14 1000014 1 100014 14 0206 A