Evening Star Newspaper, February 21, 1926, Page 35

FINANCIAL ANOTHER NEW PEAK IN BOND AVERAGES Banks Leading Buyers in 'y Present Market—Gains in #¥ iation or Foreign Group. BY GEORGE T. HU Special Dispateh to The Star NEW YORK, February 26, Further progress has been made this week in the advance which has been under way in the bond market. and the average now stands at another new high since 19 The consistency of the rise is its fmpressive feature, going on as it has done now without important setback for more than a month, either by the vagaries of by minor fluct HE tock specu- ations in le all grades of bonds have par- ticipated in the movement, in one re- spect the buying this week has been different from that earlier in the month. The feature this week ha been the high-grade railway issues in the 1 investment class, the kind that the law allows suvings banks to buy In New York State Banks Enter Market. Tp to about the middle of this week there had 1 v what amounted to deadlock between holders of these bonds and potential purchasers. Prices for the sales recorded onthe exchange | ad rang ywind the high points in | undisturbed | ml 1021 1089 1081 -1 High. 973, 108% 97% 1011 881, 1104 1084 8914 108 104%, 1037 103% 110 11104 bliy 100 10244 recent months. but transactions were on a sm hecause the owners wonld nd buvers refused jids. On Thurs. | dny, however, 1 ation changed when suddenly in banks and | dealers entore market and availabl supply of » honds at the offered | 91 mintry trading Subwe- | 103 1 f odd were made on | 94 the exch prices higher than | 97 the large blocks had changed hands | 1114 outside | 9an IH\ 2 Buying Very Heavy. fabe sactfons in selected issues of | 109 Ype ran as hizh as from $300.- 1105 $1.000.000 par value, and in! 106 r me of the ]} hiless for account of | 121% binks which intended to hold | 102 s manent investment. i 104 hut more 1 came from middlemen| 91 Wwho were anticipating the development | 954 of deman the savings banks. [ 110 The that soor later { 109 these instiiutions would be forced into] 99 and t they would have | 10: seller’s price to fill their| 10 ts. Whether this theory is| 9 me tell, but it does | 10: en 41" hond on a | 115% ent basis ix hardly a bar- | 1044 » 99 Yok Legislature | 108% law making legal 103 ility bonds which | 99 e ailing yield | 100t road bond look still | 105 \ ttractive, for, earnin; a prop- | 101 erty values considered, there are plenty | Bu of utility issues just as high-grade in.j 129 vestments as are the corresponding | t08% rafls, and the price of the utilities is (105 much lower 10422 = | 914y v Bonds Quickly Taken. | 108 heve has been some advance | 106% roup. b has not by | 98y = counted e effect of | 102% PY d change in the law.| 112 New York St sest field fo of legal o m' and becanse the New ; York State law has heen more rigid! than that of most other States Another interesting feature of the wesk was the prompt sale of $7.000,-| 94 000 City of New York 4 per cent | 103% bonds and corporate stock at prices| 90% to yleld from 3.75 to 4.15 per cent. The| 98% success of this offering shows that| 92% the market for x-exempt securities ‘g has not heen favorably affected by prospective reduction In surtaxes. The issue was more than nine times oversuhscril and the largest sale of its kind in the history of the | clty. RBuving orders for the bonds after they had been placed on sale by the successful syndicate came from all parts of the country. Demand was stimulated b <ame factors that were in tial in bringing about the higher prices for the tax-exempt Lib- erty 31;s, namely, the preceding scar. city niclpal and State offerings and that the limiited tax ex- emption applying to other Liberty bonds terminates on July 1 i Another Offering Also Sold. 3% Testimony to the underlying | 104% strength of the investment market |107% waa also sfforded by the offering and| 95% A male of the $50.000.000 General Motors | 89 Anceptance Corporation 5 per cent 194 serfal notes at prices to vield from 5| 857 to Bl per cent, according to ma-| 10 turity. It was also a striking com.| 93% mentary on the growth of the busi-| 157 neas of financing the sale of motor | 58% Dos 9% In the higher vielding section of | 34% the st buving has shifted ahout from | 98 one issus to another and from one |108% £roup to another. There has been a | 117 little better market for issues selling |108% at & premium, eepaclally the second. |11l + grade rallroad bonds with 6 per cent | 94 coupons. In the forefgn department | 77% several new high prices have been |108% made by South American bonds.| 14" French obligations have held their | 95 ground remarkably well, considering {79 the cxtreme wewkness in franc ex-[+53% Interesting to note that for | 93% the year to date the range between| I9% the high and the low for French 7s| 9% e been only 2% points, for French | 95% Tigs it has been' 21, points and for | 198% French s, 27 points. This represents . surprising stability. ooy 98% CLOTH MARKET DRAGGY. | &* « |61 A 98% NEW YORK, February 20 0P— [ 3% Wholesale dry goods houses reported 18% a steady trade in small lots this week, | g3 but February has not proved so good | gay as January in several centers thus| sow far. Primary cotton goods in the gray | gos th division have been quiet, with | <7y the best business passing on sheetings. | gay, Printed goods in silks and cottons are| gy active. 108% Owing to the etrength of Japanese| g8 axchange, prices for raw silk have| g held steady here while: weakening | gp abroad. Leading houses next week |1g3% will begin opening lines of Fall fancy |11 worsteds for men’s wear. Most of the | 318 new goods shown thus far do not in-| 1011 lude many novel colors. Burlaps were | g5 slightly steadier in Calcutta and firm | gg here. Retail trade has been curtailed| 7g% this week by storms over a wide area. | go -—— 20 GERMAN BONDS AND STOCKS. | 35 (Quoted in dollars per million marks.) 101 Bid. Asked. | “941 jois1s gaods 80ty | o 0 900 1108 | 7 T thous n;ul Bllfl(l )00 4 1 oTh ) ok i “i. o | 88w jerman Loyd 4 X 3800 93 erman_Lloyd X e 824 c!‘...}l- E2T) - 1 H lo:u i bre-w 10 | 11 2 “"" s i S, A il e sche 99% G jen F. ?..mer‘:r:m Privat Bank.. 101% Wisconto Gellschatt 108% x.:T.fi;.‘. Bank 0 G050 | #98% Darmstardter Bank ? B € i o o i3 l 6% roden Chem 0 : - Austrian Aeg )] 2 Newas Stook ( - Tow. 5 9.1 10230 101-1 10119 100-16 5 101 100-17 Liberty 101-1 Liberty 3d 414x 1928 . .. 101-20 Liberty 4th 473 1933-38. 0 104-17 52 Low. 4 6 99% 9Bl 101% 1024 1015 n,..mnm‘ 96 9 Australt 4 102% 10015 Austria 83% 87% 86 Belgium 106% 110% 109% Belgium 106% 108 107 Belgium 8= 1941 80 R6'4 8213 Bordeaux 6s 1 95 104 1013 Rrazil 8= 1941 101% 104 1027 Canada 5s 195 101% 102% 1017 Canada 53s 132 101% 1028 102'a Chile 85 1926. . 1081 109% 107% Chile 83 1941, 106 109% 108 Chile8s 1946. : 40% 48 Chinese Govt Ry As 195 944 100% Copenhagen 5lgs 1944 10115 102ty Czechoslovakia 85 1951. 102% 0% 1014 109 93% 100 824 84 108 1004% 1154 104 a4t 85t 994 100 1004 90 LEDY 105 T8y 944 106% 947 974 100 1074 119 9914 101 820 871 1011 90 112 106 967« 934y 21 101% 95 88 10674 102 933 100t 85 1044 1044 91 Denmark 6s 1942 Duteh East Indles 65 1947, Dutch East Indles 6s 1962 French Govt 715 1941, French Govt 8 1945 German s 1949 Holland-American s f 651947 Tapanese 4= 1831 Japanese 67ux 1954. reens Utd Margurine 63 1947 65 1934 Marsefile 6x 1 Netherlands 65 197 i 76. Paris-Lyon Med 6 1958 Queensiand 6 1947, Queensland 7s 1941. .. Rio de Janeiro 85 1946. .. ... Suo Paulo, State of, §5 1936, Seine, Dept of, 7s...... Serbes, (‘rotes, Slovenes §3 13 1054 Sweden 65 1939 1043 Swiss 5193 1946, 119 117% United Kingdom 10615 1044 United Kingdom NDUSTRIAL Ame Amer Amer 1034 109% 781y 106 118% 1014 1054 90k 931, 105 101% eIt & Ref Int hx 1947 melt 1t 6% 1942, Amer fining 6 1 Amer elel tr s 1824 Amer Tel & Tel cl tr 55 1946 Anaconda Copper fs 1953 Anaconda Copper cv deb 7 Armour & (o 4 1% 1934 Atlantic Refining Bell Tel (Fa) ref Rethichem Steel p m Rethiehem Steel « f 6. 10314 96% 1 Chile Copper 85 1832 86 811 Cons Coal (Md) 1t ref o8 1950 100 971 Cuba ¢ ug cv deb §2 1930. 10814 107% Detroit Edixon ref 65 1940. 97% 94 Dodge bs 1541 102% 102 Empire Fual & Gas 7% s 1937 106% 104 Goodrich (B F) 6135 1947... 112% 109% Goodye re R 1931 122 121 Goodyear Tire Bs 1941 102% 101% Humble Ofl & Ref iy 1 1043 103 Indiana Steel 5% 13 899 85% Inter Mer Marine 63 654 94 Inter Paper 5s B 194 116% 108t International Tel 58 rets. . 108 108t Kelly-Springfield 8s 1931 98 na Steel 55 14 Liggert & Myers b Manati Sugar s € Midvale New England N Y Edison 1st 645 1941, <1951 s 1942 1168, 105 N LH&P 981, Tel 4155 19 109 Y Tel 6 1441 1041 North Amer 100 Pacific Gas & El 102 Pacific Tel & Tel 105 Philadelp 103% Public Service 6% 1944 974 131 i 1087 0 Sugar 78 14 1064 Union Bag & Paper 6s 1. 1061 United Drug 65 1944 ... = 94% U'S Rubber 1st & ref 53 1947 108% U S Rubber 758 1930. 107 US Steel s f 3% 1963 96% Utah Power & Light Chem s f 7= 19 Va-Caroln, . lon Tel 6145 1936 10 L t0e7 1012 102-16 109% ) Western U 91% 101 Wilson & (o 18t 6x 1941 w12 Wilson & Co cv 7igs 1931, KAILROAD. 881 8lis Atchison gon 45 1935. . ... 89 93n Atlantic Coast Lina 15t 4s 1852 93% 86l 92 Balto & Ohio gold 4s 1943 91 89w 954 Balto & Ohlo cv 41ys 1933 95% 8% 97 Balto & Ohio ref 55 1445 9 1024 1087 Balto & Ohio 65 1929 .. 83% 9% B&OPIts LE& W Va4s 1941... 914 95% 99% B & O Southwestern Div b cfs 50.. 99% 82% 96 2 Brookiyn Manhat s f 6s A 1968 95% 116 118% Canadian Northern 6% 1946 117% 79 82h Canadian Pacific deb 4 8133 264 9lla Central Pacific 45 19 90% 9% 99 Chesapeake & Ohio cv 4% 1930. .. 98% 8T 94 Chesapeake & Ohio gen 415 1992.. 984 102 1424 Chesapeake & Ohio cv 55 1946..... 133 4% 57% 5l% Chicaro & Alton 3'gs 1950 .56 100% 104% 102% Chi B & Quincy 1st ref 55 197 103% 71% 8% 76% Chi& Eastern 11l gen 5s 1951 % 59% 68% 6415 ChlGreat Western 45 1959 661 44 B84 B51% Chi M & St Paulcv 435 1982 52 7% 931 90% Chi M & SUPaul geu 4 5% 1989.. 93 4315 B58% 52 ChiM& St Paulref4%s2014..... b2y 44 531 52 ChiM & StUPaulcv 5s 2014. . . 52 105% 112% 111% Chi & Northwestern 6155 193 112% 78% &1 76% Chicago Railways os 1927 83y, 89% 87% Chi R 1& Pacific ref 4s 1934. 91% 964 94% Chi Union Station 445 1964, 116w 118 116% Chi Union Station 635 1963. ... 764 85 81 Chi& Western Ind con 43 1952 83% 102% 103% 1027% C C C & St L ref 65 A 1929. 104% 108 105% Cleveiand Term 53s 1972 90% 96% 95% Colorado & Southern 4348 88% 92 88% Cuba R R 5s 1952... 101 104% 103 Delaware & Hudson 5%s 1937..... 104% 82 88% 85% Den & Rio Grande oon 48 1936. 55 70% 66 D&RG West5s1955.. 86 92% 90 Detroit United 4%m 1932. 70 71% 7T4% Erie 1at con 45 1996... 61% 172% 67 Erlegen iten 45 1996 63 8% 69 Brlecv4sA1953.... @9% 85 824 Erieov4s D 1353.. 03 99% 974 FlAEC58Td.... 106% 107% 106" Grand Trunksf deb 65 1936, 114% 118 114% Grand Trunk 78 1940... 99% 1054 102% Great Northern gen 5% 1953, 108% 118 110% Great Northern gen 7s 1936. = 8614 95% 92% Hudson & Manhattan ref bs 1957 ETA 6% 82 76% Hudson & Manhattan adj 6s 1957.. 81% 101% 104 102 Illinois Central 63%s 1934. 59% 78% 62 Inter Rapid Transit 5s 1966 85 94 86% Inter Rapid Transitov 7s 1932, 66 78% 72 Inter & Great Nor adj 6s 1952 80% 91% 89% Kan C F't Scott & M 48 1936 70% 76 74 Kansas City Southern 3s 1950. 88% 96% 93% Kansas City oSuthern 53 1950. 97 99 98% Lake Shore 4s 1928..... 9b6% < 97% 96% Luke Shore 43 1931 91% 96 93K Louls & Nush unified 43 1940, 104% 110K 107 Louls & Nash 18t ref 6% 2003 84% 94% 89% Mil Elec Ry & Lt lst ref 68 61. 102% 104 102% MStP&SSM6khs 1l 80 86% 84% Mo Kan & Tex 1st 48 1 76% 96% 93% Mo Kan & Tex adj 68 1 86 99 96% Mo Kan & Tex prin s A "ll 62% 9% €5% Missouri Pucifio gen 48 1976. 92% 98% 96% N O Tex & Mex inc 68 1935. 98% 95% 94% New York Cent deb 4s 1934 99 108% 101% New York Cent ref imp 683013 106% 108% 106% New York Central deb 65 1935. 24 62% 61% New Haven deb 45 1957. 87 99% 974 NYNH& Hcvdeb 6x1348 B9% 76 69% NY West & Boston 4% 8 1946 93 90% Norfolk & Western con 48 1996.... 1254 166% 148 Norfolk & Western cv 681839..... 80 641 61% Northern Pacific 3s 1947. 5 887 864 Northern Pacific 4s 1997. . 104% 110% 108% Northern Pacific ref imp 65 2047 96% 97% 96% Ore Short Line ref ¢s 1929. . 81 86 83% Ore-Wash Istref d81961. . .cveees 911 97 94% Pennsylvania gen ufig 1“5 99% 105% 102% Pennsylvania gen 109% 112% 1113 Pennsylvania 6%s us 31% 41% 87% Peoria & Eastern inc 4 9T% 102% 1011 Pere Marquette 18t 55 1950 ceumas 1025 97% 90% Reading gen 4s 1997, - 97U 92% 96% 94% Reading 438 97...... i 79% 7T4% Rio Grande Western ol g4% 98 SSH RIATK&L 4%s1934... §3% 914 BIMSILIM&SR&G4s1933.... n 80% 77% St L & San Fran prIn 45 A 1950 96% 93 St L& San Fran prIn 5s 1950 93% 101% 99% St L & San Fran 5%s B 194 84 Sz‘fiBtLlimFrmlljlsllil 76% 89% 87 StLa& San Franine §9w__ 74 _ 71% Beaboard Air Lane ret 0- 95— 8714~ 86% Seaboard Afr Line adj 58 1949 eas s 84% 96% 941 Seaboard Air Line oon 63 n»...,, @9v 98% 96% Southern Pacifio ov 48 1939 80" 87 86K Southern Paciflo 0ol 45 1949 esase- §1% 91% 90 BSouthern Pasifiores SBaseces. 73% 84 81% Southern Ry gen ds1 psey e 1004 106% 106 Southern Ry 18t 55 1806. vsveeasee 106% 1141 112 Southern Ry dev 6% 1956.. 344 66% 41% Third Ave adj 5s 1960 90% 94% 924 Unfon Paocific 1st 45 1947, 98 100 994 Union Pacific cv 45 1927. 96 102 100% VIrginian Ry 18t 58 1963. coa.esas 100% 102% 101% Wabash 18t 58 1989. .. oeeuanrens 943 101% 99% Wabash 5145 75. 634 70 67% Western Maryland 4 1953. 90w 99 957 Western Pacific 55 1946. . 97 1001y 108 104% 978 10214 1041, 107w ats 101 103% 96 994 108 B5% 100 " 30 W85 381 WestShore 15t 40 8861 e ceme BW6 85 84N Il Last. Vi 100-38 3 53 | 1020z 3901 100-26 3 83 { 101 383 10211 591 107-24 873 | . Low. Last.| 98I 99 1015 101% 9% 9T% 101% 102% | B7% 874 | 110% 110% | 108 86| 103% | 103% 10z 1024 10218 10214 1085 10814 108% 108% 484 98% 102 103% 104% 104% | 99% | 108 1020 | 80% 6% 94k 103% 85% 85% | 1094 T 105% 118% 100% 103% 103% 9% 89Y% 1048 | 1024 105 110 1214 1024 103% 85% 97 9% | 1024 | 104 | 105% | 9% | 1004 1031 95% 98% 10814 R 9974 107% 96% 1024 | 108% | 1114 | 1214 102% 104 5% 91k | 524 52 112% T84 | B9y yau 118 865 103% 106% 64 92 104 284 6815 90% Th 1% 3% 831 9% 1073 1154 104 1125 95 20% 1084 {on the price | high, 'PRIGES CONFUSED IN STOCK MARKET |Bears Fmd Weak Spots While Other Shares Score Sharp Advances. By the Associated Press NEW YORK. February 0. Lack of a definite trend again characterized today’s stock market, which was fea- tured by another bullish demonstra tion in American Can, which carried that issue to 34414 and 89 points above the low price of this year. Realizing sales forced the stocks hack to 33814 at the close. Irregular fluctuations in_the main hody of stoc reflected to a large extent, the usual pre-holiday readjust ment of speculatve nts. The nouncement that the Senate House conferes had agreed upon a bill apparently was without influen movement. Week Spots Discovered. truders continued to seek out spots, and succeeded In forcing moderate recessions in some of the foods, equipments, chemicals and or- dinarily fnactive specialties. American Snuff broke over 5 points to 145 in further retlection of the poor 19 uruh\x report and net declines of 2 to L opoints were recorded by American Locomotive, Callforniz PacKing se Threshing Machine, Commercial Sol vents A and B, du Pont, Fox Film General Electrie, South Porto Rican Sngar and United Fruit Meanwhile bullish operations took place in a few industrials and special ties whose earnings show sign of im provement. (‘entral Leather pre ferred. Columbia Carbon. Co.. International Harvester, Savage Arme and United States Cast Iron Pipe all closed 2 to 4 points higher. Laciede Gas was run up over 7 points to 187%. or within a smalil fraction of the vear's high, and Nash Motors fumped 41 points to f43, a new record on a few males. Coast Line Jumps, Rails displaved a firm undertone. Atlantic Coast Line was run up 8 points to 238 on a small turnover and Erfe common and second preferred and Pere Marquette advanced a point ctwo. A good demand was also up parent for Baltimore and Obio and the Chicago and Alton issues An advar shel in th At 1y May option featured the markd. Cotton prices held in qulet trading. The sugar flee exchanges were closed Further heavineas of French francs, | which duplicated the vear's low at 3 cents, and & jump of nearly 50 points in rweglan kroner featured the irregul. forelgn exchange mar ket. Demand steriing held steady at $4.86 and most of the other Kuropean rates showed only nominal changes. BALTIMORE LIVE STOCK. BALTIMORE February 20 cial.—The lve cattle market has an easy tone generally, which is usual at the beginning of Lent, and values (Spe generally show a slight decline ceipts at stock yards are fair, but there s little stock arriving by hoat Demand only falr and centered almost entlrely on first-grade cattle, with little call for common to ordinary stock. Quotations today at Light street wharf: Beef cattle, first quality, pound, 9a 10; common to medium. pound, a8 bulls, as to quality, pound, 4a6; cows, choice to fancy, pound, 5a6; common to fair, pound. 3a4: oxen, as to qual- ity, pound, 4aé; milk cows, choice to fancy. head. 30.00a75.00; common to fair, head, 30.00a50.00: Calves, veal, cholce, pound. 14al43%; ordinary to medium, pound, 12a13; rough and common, pound, 8a10; small culls, pound, 8a10. Sheep. choice, 7a8; old bucks, 5a6: common, 3a4; lambs, Spring, choice, pound, 15al16: falr to good. pound, 13a14: common, thin, pound, 8al0. Hogs. straight, pound, 12a13: sows, pound, 8al0; stags and boars, pound, 5a7: live pigs, pound, 14al5; shoats, pound. 12a13. CHICAGO LIVE STOCK nmr CHICAGO, February 20 (Sveclal).— Hog trade was steady today compared with the low time Friday. Choice light pigs sold mostly at $13.25 to $13.50, while good heavy butchers made $11.75 to $11.90. Good packing stock went at $10 to $10.30. The run was 5,000 with 5,000 more held over from Friday. Cattle supply was only 500 fresh animals, and trade was unimportant. For the week steers up 25c to 50c. Light cattle made $11.50 and heavy $11.35. Cows and heifers gained 25c to 60c, but calves dropped 50c to $1.50. No choice fat lambs wers on sale today. For the week most fat killing lambs closed $1.50 off, while feeding lambs were down $1. Aged sheep dropped $1 or more with good ewes at $8 at the close. CHICAGO CASH GMIN CHICAGO, February 20 (#).—Cash wheat, No. 2 hard, 1.76. Corn—No. 3 yellow, 73%; No. 4 white, 6634 Oats—No. 2 white, 4ladld; \o 3 white, 40%4aél. Rye—No sale. le;", 6934a7014. Timothy seed, 6.75a 7.56. . a new record high | Foundation | e of 1% cents to $169 a | Re- | POLISH TRADE MOUNTS. i =5 | Remarkable Progress Revealed by Comparative Figures NEW . YORK, successiul struggle for a ance in 1 s lean Polish Chambe d indusrtry in United Stotes, which tutes un adverse rade bal | | ance existed at the end of August | amounting to 522 28,000 zlotys, | September marked the vic ove February 20 (#).— outeome of Poland’s | favoruble trade bal- reviewed by the Amer- of Commerce f with an excess of exports ports aggrexating 36.0 Vi Succeeding moenths showed marked progress, October atts a favor. ance of 31,425,000 zlotvs, 70,003,000 and December zloty The last four therefore, disclosed. able trade b November 103,291,000 months of 1925, an excess of exports over imports of 260,757,000 zlotys, and reduced the un favorable trade balance of 1924 to BALTIMORE PRODUCE | BALTIMORE, February 20 (Spe- cial). ~ Although receipts of native and | nearby strictly fresh cggs have been | only moderate the past week, m.\ market has ruled easy practically all week with values howing n steady decline closing today at 29 and dozen for flrsts in free cuses. A of 3 a duzen from opening pllum Monday. Demand contipues fairly good, but only strictly fresh stoc will move freely and prompt and lib- eral xhipments are advisuble to com mand top values. Duck eggs made | their first uppearance of the season on the market this week, and met wi ready sale at 40 dozen | “The general live ponltry market con tinues firm with values holding steady with the exception of turkeys | which the demand is light and values . I rule o shade lower. Winter chickens | scarce | 40 and | smooth fat| leghorns 30 | . Demand ‘ pounds and unde nd meet with re 42 pound wh young chickens bring 35 and poor and thin stock for old hens has eased off to some | extent and values 1ule shade lower {at 28 and 29 for medinm to large, | {and 24 to 28 for small ard leghorns. | 1 01d roosters in anly fair demand at ||| 18 but capons continue scarce and {wanted at 35 to 42 to size Market for ducks helds firm at 32| to 33 for Muscovy puddle and white | Pekins, but small and poor stock will not bring over 25 and 26. Market for | Eeese continues easy under ample re ceipts and demand easily satisfied ml 24 to Young hen turkeys 9 pounds and over bring 50 and gobblers 10 pounds and over 45, but old toms are slow sale at 40, while poor and | crooked breasis are neglected at 25 and 30. Guinea fowl and pigeons hold firm at 75 and 85 each for voung and 35 to 50 each for old of the former |and 25 to 30 a pair for both young | and old of the latter ancy dressed voung chickens and capons are the only lnes of dressed poultry that | bring & premium over live stock, since shipments of lve fnstead of diessed | poultry wre advisable | Market for white rm under generally and a good movement on well graded No. | » 4 ‘5 hundred pounds, while culls d No. 28 will not bring over and | .! 00 Sweet pe oes and vams when |of fancy dry stock continue in good demand and prices hold steady at 4 to 5.50 barrel for the former and 3 [to 4.25 for the latter. Culla and No 28 sell mostly 3.00 to 350, while all | overlarge mixed stock is slow sale land of uncertain value. Yams in | bushel baskets sell mostly at inside | prices of 1.25 to 2.25, while best aweets bring outside prices. Culls and Na | stock sell mostly 75 to 1.00 as to qual ity and condition. Although receipts of early Spring | vegetables from the South are increas. | ing, thera is A fair demand prevailing for native and nearby garden truck when qf good quality at the follow- | ing quotations: 37. potatoes holds | lEht receipts Tut centered koAt 4.00 to Brussels sprouts, 15 to 25 quart; carrots, 1.75 bushel; kale, 1.75 to 2.25 barrel; onions, 250 to 3.00 hundred pounds: oysterplants, 8.00 to 10.00 hundred; parsnips, 76 to 90 basket: #pinach, 1.26 barrel; Savoy cabbage, 60 to 75 bushel, and turnips, 25 to 38 basket. FOREIGN EXCHANGE NEW YORK, February 20 (#).— Foreign exchanges {rregular. Quo- tations (in cents): Great Britain, de- mand, 4.86; cables, 4.86 7-16; 60.day bills on banke, 4.8214; France, demand, 3.66. cables, 3561 Italy, demand, 4.01%: cables, 4.02: Demand: Bel- glum, 4.541; ¥, 23.80; Holland, 40.05] Norway, : Sweden, 26.74%: Denmark, 26.05; Switzerland, 1.4 19.25%; Spain, 14.09: Greece, Poland, 12.90; Czechoslovakia, 2.96; Jugoslavia, 1.76; Austria, 14%4; Rumania, 43; Ar- gentina, 40.80; Brazil, 14.30; Tokio, 46 5-16; flnnghu 7sv Montreal, 998 CHICAGO STOCK MARKET. CHICAGO, February 20 (P).—Ar- mour preferred, 92; Middlewest Utl- itles, 125; Real Silk, 57%: Swift & Company, 116%; Swift International, 21%; Unlon Carbide, 84; United States Gympsurn 148; “'lh! !!“ FEDERAL LAND BANK BONDS NEW YORK, February 20 (Special)— Nov. 18410 o 2501 4 i Berd P 2329222 atiosii: HOW IS BUSINESS? Showing Current Business Activity Compared With Same Woek a Year Ago RAL A 1 N ooite waiotts New ork, comoares i ACTIVITY BY FEDERAL RESERVE DISTRICTS Check transactions compued ‘with the corresponding week of ast year. LAAEL Ay 4 LEADING B. ' Showing trend of trend. s o dolas ¢ cashod) seoereeee "Fb (Doi-. ) ncreasing ber) o Increasing 14.2 oot foeiog tind.—Cont, Bowrd +- Steady 32 Wheleaale piices (Fishor's Index) © ‘isesa Declining — 15 %flcnltun.l prices (Dept. of Agricultu . Steady 29 vement of goods (car loadings) .... . Steady 31 Retall trade (Fed. Res. Board) . . Steady A1 Wholesale trade (Federal Reserve Board) .... Declining 0.0 Fallures (Dun’s) . : Declining — 68 Bond prices (Annalist) . o Increasing 6 Stock prices (Annalist) . D Mixed .6 Stock market volume (shares traded) . . Declining 4 AROMETERS fmportant factors. r FEBRUARY 21 1926—PART 1 GRAIN MARKET HIGHER. | Wheat Prices Climb on Good Sat- urday Buying. ‘ CHICAGO, February.. 20 (#).—Ag- | gressive - buying particularly during | the last part of the Hoard of Trade sesslongave wheat prices' o lift 1o day. There was general evening up o prepare for the holiday on M day. Expectations are that Chic contract stocks of avheat will show conxlderable decrease for the current | week, leaving les thian 300,000 bushels | in store here. | Wheat closed firm, higher, corn %e to 15 up and oats changed to 3¢ advance | Hen e to 20 net First Mortgagc Bonth Call or write for Booklet. The F.H. Smxth(lo; Smith Bidg., 815 15h St “1" INVESTOR IN \nna NO LOSS TO A’ - l WE FlNANCE —all classes of Income-producing properts Large Loans a Specialty Current int. rate and commission Higbie & Richardson, Inc. N.Ww. 816 15th St. — 'WE PAY MORE lNTERFST ON SAVINGS ACCOUNTS | Than Any Other National Bank in Washington Interest on DAILY Bala Come in and let us explain | Commercial Nat’l Bank || 14th and Resources §1 PRINCIPAL _AND 6% INCOME POLICY The provision of this Solliy 1% similar w0 the Brant”of o 1'te S In an ‘eatAls the plan has this ldr)\ulu(» over the A" teRiltn of safe T\ eutment that 1t Tantees, the amoint of the contingant Facume at the rate of six ner cont of the prncbat payanie monthi' o Sdvance Give dates of hlr'(h of seil and beneficlary i or rates i N. E. ELLSWORTH, Gen. Act. AETNA LIFE INSURANCE CO. %01-6 Woodward Rir. First Trust Money ON HAND —Auvailable for Both Building Loans and Completed Properties Reasonable Interest andCommission JAMES F. SHEA Securities We Offer For Sale This Is One Of the Vital Reasons For Investing Your Funds in Our First Mon;uge Notes Paying 6',%. They are all secured improved Real Estats n this city—worth double the value of the mortgage. Ask for Booklet Mortgage Investment Dept, 713 and 715 14th St. N.W. Main 2345 FINANCIAL THE NEW t Money to Loan | Seenred by first decd of trust on real sstate, Frevaling interest and commission | Joseph L. Weller 370 w4 Yth & § INVESTORS 1 ha - sale 7% ¥ amounta $:5.000 complete lon real comfe iully dewir- s wishing dividual loans. WM. H. KYLE StONWL Maln €627 ven pas $2,555 Dehvered 2 St NWL 1410 G FIRST MORTGAGES Money at 517 Very Desirable Conditions Granted Tyler & Rutherford Loan Correspondent Mutual Benefit Life Ins. Co. Newark, N. J. 1018 Vermont Avenue Phone Main 475 | s W INTEREST ON GERMAN BONDS Interest on pre-war Industrial Bonds at the rate of 29, of the revaluation is now due and payable for the year 1925, We shall be glad to collect these coupons without charge. 1st TRUST and CONSTRUCTION MONEY ON HAND . N. L. SANSBURY CO., Inc. 1418 Eye St. N.W. Maln 5904 LANE ROWELL & CO. 336 Southern Bldg. Main 860 Baltimore Norfolk = lolc——|a|c———=|ajc———[~n| p=——lolc———Ja[c———[a][———] Richmond [o[——a|ol——] 0|4 [c——=[o[c———]o]— = [o] | The Baltimore Trust Company is pleased to announce the appointment of CHAS. D. SAGER Washington Correspondent and i Sales Agent for its 6% Real Estate Bonds i Secured by Guaranteed First Mortgages INSURING | YOUR FUNDS | There is absolute principal protection and assurance of in- terest-income regularity in our— 6142, FIRST MORTGAGES Overa They represent a thoroughly Quarter comprehensive and dependable |f| ofi insurance for your finances, en- |f| tirely in accord with the sound- Century est policies of conservative in- Without a vestment. | Loss B. F. SAUL CO. Main 2100 925 15th St. N.W., Secured by The Same Stenderd of BALTIM! Banks an For each of these 1. The lmph [ pany for ment Banl 2. First n-nr! % to no ’fi: e-use buildings. 3. guarantee & Guaranty CAPITAL & SURPLUS $7,000,000 have been bought by more than 200 National Baul Gompany by the New York Title & Mortgage Company (resources wa}[o;iom& some other title insurance company acceptable tq THE BAL’ RE TRUST COMPANY. The bonds are in $500 and $1,000 denominations, maturities, to yleld 6%. Any } ‘These Bonds Aro Offered In Washington and VncGfiBy Our Local Correspondent ‘924 14th St. N.W. THE BAITIMORE TRUST (DMPANY The Largest Trust Company in the South Atlantic States vffering complete banking, trust 200 Banks Have Invested in These 6% Bonds Real Estate First Mortgages Guaranteed United States Fidelity & Guaranty Co. (Resources $46 1 = Safety, the Same Guaranteed Security and the Seme Rate of Interest Are Available to You HE 6% real estate bonds investigated and recommended by THE ORE TRUST COMPANY, itself a $65000.000 ;:k. te d Savings Banks in various parts of the Unites "States. bonds a threefold security exists: resources of some well established mortga E BALTIMORE TRUST COMPANY acts as on real estate, each property conservatively appralsed of the mortgage granted. (No construction loan: dings.) of principal and interest by the United States Fidefity (resources $46,000000) and the guarantee of fitle com- st- and in 1 to 10 State tax up to 4:4 mills is refunde CHAS. D. SA Telephone Main 36 and investment services TOTAL RESOURCES - $65,000,000 70,000 DEPOSITORS