Evening Star Newspaper, February 27, 1926, Page 24

VOLENTDECIES N STOCK HARKET Foundation Company Tum- bles 21 Points—Strong | Support Given U. S. Steel. Oven. Abitib] Pow (4). 178 Abrahm&Straus. 50 Adams Exp (6).. 102 |Ahumada (t1).. 8 | Alr Reductn(16) 114 {Afax Rubber.... 12 Allled Chem (4). 126% Alited Cin p2(7). 121 Allls Chalm (8). Am Agricul Chm Am Ag Chm pf.. { Am Bank N 1.60 Am Beet Sug (4) Am Bosch Am Brak Am Br Rover:. Am Br Bo pf (1) Am Can (18), Am Can w.t. . Am Car&Fdy (8) Am Chain A (2) Am Chicle. Am Drog. ... Am Express (8) Am & For Pow Am & ¥ Pt (7 Am Hide & Lea { Am Hide & Lt Am Ice nfd (8). Am Internati Am La Fran (1) { Am Linseed | Am Loco (8). Ans Shin & Con Am Metals (4)', Am Radiator (4). Am Safety R (34 Dy the Associated Press NEW YORK, I'ebrua drive against common Youndation Co., which points, was the X regularly lower sumption of number of vulne: ing after the X day, brought out another large vo of forced liquidation from trader were unwilling or unable to me margin call Strong banking vided, however, for United Steel common and a number of otl high-grade industrials. The excellent Janua statements shown b eral of the leading railroad systems also served to restrain the selling of the railroad she \merican Brake Shoe and Foundr dropped X 1 reme dropt yuth Porto R 81, points, Cormr , May Department i’ Union Tank ust Iron Pipe anc Pon 312, but most of th prices were shaded when ness developed in The stock W att who support w earnings ' Am Snuft (12). | Am St1 Fays (3) ar (5). Am Sugar pg (1) Am Sumatra. . Am Tel&Tel (5) Am Tobaceo (8). |Am Tobac B (8). Am Wa 1 | Am Wooien Am Wool vt (T) Am Writ Pap pf. Am Writ Pact A nc. . Am Zine pf. Anaconda (3 | Ann Arvor .| ArmourDel pt(7) _| Armour.111 A (2) | Armour.Ill (B) | Arnold Con (n | Arrioom «3). ... | Art Metal (1) Asso Dry G(2h) Asso Oil (2) | Atchtson (71 Atchison pf (5). | At Birm & At Azl Coast L (1%) AtIGuIt&W I... At] GuI&WI pt. { Atlantic Refing. Atlas Tack..... | Austin-Nichols. Auto Knitter. {Baldwin L (7). | Balto & Ohfo(5). Bal & Oh pf (4). | Bang & Ar (3) all A (2). all B (2). . Canre: nd, up W YORK: Stocks heavy breaks 21 points. I ugar honds he: exchan steady; Cotton in; sell: Cof- 3 ithern ady: trade buying. ving by importers, | PENNSY REPORTS BIG GAINS DURING 1925 Fresident Atterbury Says Net In- come Was 524,202,000 Above 1924 Total. istiem: | Barns E e o o | Barns oad ompanying oo s . W. Atterbury,|Belling Brostt). the company’s esti- ":‘h ;u’:} 3y | Beth St pt (8). | Booth Fishertes. Briggs Mfg (3) Bklyn-Mn Tr(4). Rk-Man T pf(6). kiyn T'n G(4). Brown Shoe (2) . Rrunswick-Baik | Brunswick Te: Burns Bro (i0 Burns Br B (2). Burns Br pt (7). Bur Add Ma (3). P)—The | gush Terminal. . _ | Butte Cop (502). Sutte&Super (2) Calif Pkg (18). Py the EW Assoc YORK, Pennsylva dlvidend president mated n 524 's financial any id the ronger position time since the w WOOL MARKET DRAGGY. Prices in Favor of Buyers During Past Wee! BOSTON, Iebruar: Commiercial Bulletin today s “The domestic ing time for t consequent though there h decline in values. reports from the goods market indicate better b ing of fal especially « d lines, but this evidently has not be-| come sufficiently general to force the | Case Threshing. mills Into a general buying campaign | Cent Leather for_wool | Cent Leather nt. “The for arkets are generally | Cerre De P (15). steady, and are strengthen- | Certain-Teed (1) ing slightly i nd also at|Chandier-Clev. . the Cape. 1 buying more Chand-Clev pref. freely in Sou | Chesa&Ohlo (4) MOTOR PERMIT SOUGHT. huyer, al no noteworthy Calumet & . & H(135) . Can Pacific (10). m T erinos istra wope is h Awmert 3P pt’ Pptcts The promoter Wi 11 & Pac. .. nilds (32.40) ... un busses nelsco, with 3al from « lines to Philad: Chryster Corpn *Clev & Pitt ( Cluett Peab (5). Coca-Cola (7 | Fuel & Iron. (Spe- | Col G & B (2.60). ¢ White itoes, 1 pounds, | Col Carbon( 2.00a4.5¢ . bushel, £.00210.00: ' “oml Cre; Brussels = . 15a25; beets, bushel, 11st hamper rel ) BALTIMORE PRODUCE. JALTIMORE, Februs o7 beat om ¢ Com: In | Com Soiv A (1) carrots, | Com Solv B. te, | Congoleum-N i CU- | Consol Cigar. ... Y- | Consol Distribut 0t | Consol Gas (3).. Consol Textlle. . Cont Can (16) Cont Insur (6).. Cont Mot (80c). . 1ps, | Corn: Prod (2) Cructble Stl (5). Cuba Sugar S pf. Cuba Co (4).. | Cuban Am pf(7). Cuban Domin. .. Cudahy Pkg (7). | Cushman’s (3).. | Cuyamel Fr (4). Davison Chem Deere&Co pt(f De' & Hod () ling | pel L & Wn (17) making | p R G Wst pf. srades were | Detvolt 1 (8).. { Devoe&iia(2.40). Dodge Bros ClA. Dodzge pf (7). Dome Mines (2). Douglas Pec (1). it Dupont (1) cs 85 | Dupont dei (8 \ Duguesne pf (7). 00a4, zerin, o il was in by le pure the unck BOURSE UNSETTLED. k ) ading stman (18) ton Axle (2).. senlohr & Bro. Auto Li(16%) . ectric Boat. . ec Powr & Lt. ec Sto Bat/16) rerson Brot. Ewmierson B pf. RAIL ORDERS LARGE. NEW YORK, Fe February orders for ment amounted to 13 locomotives for | gna John (6)... domestic use ada and 1| RE... for export, a freight cars and 152 passe: reports. Jan comotive 217 passenger COTTON BELT'S INCOME. NEW YORK, Febru: 7 venues of the ‘otton Belt) outh last y having d $1 G8. e 44 1 3 sor cars e relzht E [ ; | Bureka Vac (4). sxchange (1'2). irbks Mor (3). ) Famous pf ($).. Fed L&TT(*2.40). | First Nat Stoves | Fisner Body (3) | Fisk Rubber. .. . 17| pleischmin (new) sur- | poundation (8). 3 Fox Flim A (4).. Sty : Freeport-Texas AEUNST G abriel ACT3%). | Gardner Motor. ¢ | Gen Am Tak (3) BELGIAN LOAN COMING. | Gen Asphalt.... NEW YORK, February s | S el B O tion of an iniernational loan of $15 GenEl (60¢) Genkil speci 60¢ 000,000 for Belgium, authorized by [Geta 21y the' passage of the Anancial re-estab- | GEN N tore (7). . lishment bill is expected within the | GEl NS 7y next three weeks. American par-| Gen Outdr Adv.. ticipation in the firancing will prob- | Gan Outar A (4). .-lsszm between §75.000,000 and | Gen Petrm (3).. ed 64 cars and Ty 48% 55% 99 816 11% 6% 123% 11 305 534w B2 High. Low. 78 8 50 50 1024% 102 8 7 13% 12 124% 121 8514 27 811y 38% 4 134% [ yeinn & St Lou 122% 114% 80% 53K 52% THE EVEN Close. | 78 GenRySlg(14%) Gimbel Bros. . 5| Glidden (2). % | Gold Dust. . 113% Goodrich Ru (4) 12 | Goodyear pf (7). 106 125% Gotham S H 2%. 26% 121 | Granbv Consol. 20 85Y | Grt North pf (5) 724 274 ' Gt Nor Ore(1% ) 4 82% | Grt Wstn Su (8) 100% 38% Guap.anamo . 8 GulZ Mo & No: | Gulf States S (55 72 64 224% | Hartman (21) Hayes W (1314) f!nn ake (16) = .| Househd((+3%) ISS‘V’ fouston O11 Siue | HTowe Sound (2) Gl | [Tudson Mn (243 +"* | Hudson Mot (3) | Hupp Mot (1), 101 925 832 127 | 80% | T"inots Cen (7)) 941% {11! Cent pf (6).. 13 | Indep O11 (1) 58% | 'ndian Refining 83 |Ingersoll R (3).. 42101 inland St a2 im) 14w | 'nsniration (2) 36% | Interurh Ran Tr 101 |Intcontal Rubber 7% | Trrernat Avrs 53 (Int Ag pf pf (7). Int Bus Mac (3) 116% . 118 nt Com Eng (2) internat Har (5) 1 nter Har pf (7). 121% niMatch pt 220 61% nt Mer Marine 9 | 1nt Mer Mar pr. 36 Nickel (2)... 39% Int Paper. .. . 6314 { Intl Paper pf (1) 94 int Tel & Tel (6) 1194 33 16% 603 a1 177 67 114 TR, . Tones Bros Ten Jordon Mot (3) Kresze § S(1 4| riresze Dept S Gas (8). 1645 el » & Rub. 11k arg | Lehizh Val (314) 81 o | et ctfs 3 vers 2 ett & ) ) Lis & My B (14) Lima Loco (4).. T.oews Inc (2).. Loft RO T.oose-Wiles. ... 1 r.one Bell A (4) Loriliard (3) ... Lorillard pf (7). Toutsiana Ofl. T.ouls GasA (1.75 Louis & Nsh (6) Ludlum (2)..... MeCrory 2 15.60. 100 MecIntvre P (1) 26 Mack Trucks () 128 MrxeyHR&Co.. 9 215 | Macy pe (D) ... 1 101y | Mackay pf (4) 11614 | Magma Cop (3). 7| Malltson & Co... . Man Bl Sup(314) 3% | fan Ema g (5). iy n Shirt (114). E“;f:l_mrmna ol (4). Martin-Parry (2) 4| M thieson (4) 9 ' Mav Dept 4t (5). {ay Dp S nf(7) Mavtae (2).. Metro G pf 1.89 | Mextcan Seaba 014 | tami Cov (1).. % | V1a-Continent 1| Mid-Cone pe (7. [ 313 entoc 0N ot 764 604 3844 1 16 24 20 40 a0t} | Mi'ler Rub Co.. 2 | \tis Kan & Tex 60% | yro K & T of (5). 4121 \1gzour! Pacifie. 155% | vrissourt Pac pf. 81 \font Power (4). 5 | Wonteom Ward i | Voon Mot (3).. 3% | \rotherLode (750" Vo Pleture(114) Vator Vat (260) Motor Whi (2) | Murray Body. 1\‘1\% Mot (17 | Nat Riscntt (#4). tCash Reg A. t Moak (4) . loak nf (7Y t Dalrv (3) t Dpt Stares Cat D'stillers t Distillers nt at Fnamel & 8 Tinam pf (T) Lead (8)... | Nat Pow&Lt 40c. | Nat Supply (2). | Nevada Cop (1). 4| NY Alr Brake(2) |NY AirBr A (4) i 43%, a1 131 3014 /8 a8y, 21 131 a1 N Y Canners (2). 49 Y Central (7). 4 NYC&StL (6) { NYC&StL pf (6) 1 9774 Y N H & Hart. Y On & Wn. 4 Rys partefs. 15 orfolk South... 341 orfk & Wn (18) 146} orf & W pf (4). 86 orth A (B3.40). 594, orth Pac (5)... 70% orwalk (1.60).. 123 |0i1 Weill Sup (2). 32% | Omnibus. . 17% Onyx Hos pf cific Gas (8).. Pac Gas & Bl rts | Pacific O11 (D). 43% | Packard Mot(2). 107 | Paige Mot(180). 23 Tan-Amer (6)... 644 an-Amer B (8). 6 -AmWn B(2) 40% ahandle...... 9 . Tiiford.. 25 374 69 5 18 18 215 | Pennsy R R (3). 80% e e maatgtem: L 11 1021 | Peoples Gas 13). 122 112y, | Phils Co (4). |Phila& RC&IL.. Phillips Pet {3). Plerce-Arrow. . . | plerce-Arrow pf. | Plerce O11.. | ptereo Of1 vt 26% | pytes Coal 6% pirts Term Coal. 25 | pyits Ter pt (8). 173 | pires & West Va. 68 | postum (4.40). .. 37 | press Steel Car. 43% | brog & Refiners. 484 pup Ser N J(5) . | Pub Se E&G vt 6 Pullman Co (8). 1! Punta Aleg Sug. Pure Oil (2)..... Pure Ol pf (8) | Radlo Corpof A. IRSICefs (4). ' Rwy StlSpr (4) . 49% | gay Cons Cop. .. 1284 | Reading (4). 67 . Readingrts..... 22% | Reading 1st (2) 39 | Remington Type 7 | Replogle Steel 4815 | Rep Ir & Steel. ... 1 | Rep T& S pEAT). 95 | Reynolds Sprngs 338 | Rey Tobac B(4). 11w ' Robt Rels & Co. . 47% | Russia 1us (6).. 123 | Royal Du(al.33). 114% | Safety Cable (4) 30% | St Joseph L(13). ' | SIL & SanFr(7). 527 | St L Southwest. . VY Rys pf t ofs 3474 9 72 0 2215 106% 36% 20% 7 25% 100% 9 81 80% 29% 444 501 43 64 34%, 367y 117% 118% 2814 1% 95 38 24% G STAR, WASHINGT NEW YORK STOCK EXCHANGE Received by Private Wire Dire.t to The Star Office Oven. High. Low. Close. 0% 63% 22% 49% 61% 105% 86% 20% 72 25% 100% 100% 8 9 70% 63 224% 49% 607% 105% 360 o7 4 40 3 €0 43 37 8 847 15 34 146! 85 60 70 12 32 1 29 N MARKET TODAY Middle and Second-Grade Is- sues Sold Freely—Reces- sions Slight. BY GEORGE T. HUGHES. Special Diepateh to The Star. NEW YORK, February 27.—Irreg- ular changes marked the course of bond trading in today’s short session. There was a good deal of selling of the middle and second grade issues, with a weakening of price, but very slight, Bethlehem Steel Consolidated Gs were fractionally lower today, and the same was true of most of the | Erie bonds. St. Louls-Southwester: ! Consolidated 4s, a middle-grade in- vestment issue, dropped back a halt- point. Missouri Pacinc 6s yielded, nd ro for a time did Anaconda 6s. The high-grade investment bonds were steady, and some of them high- | Atchison general 4s and | New York Central 5s, while the Lib- lerty 3%s made a new high record for 1926 above 101. Demand for these ax-cxempt securities has been the iz development of the month. Liberties were cither firm or ‘@=her. Speculative bonds held their ground remarkably well, considering the re- cent proceedings in the stock market. Some of the oils were almost strong at times. Sinclair €3 and Skelly 6%s went up. There was more uncer- tainty in the traction group, and the Interborough bonds were inclined to sa ‘hird Avenue Adjustments and New York Railway 68 were barely steady. There was no weakening in sugar bonds, which have resisted all unfa- vorable influences all the week. Changes in the foreign list were not significant. Some of the French bonds | were fractionally up and some were down. Brazilian issues sold off some- wh The weekly report of the member of the Federal Reserve System L drop ih_holding of invest- other than United States obliga- 1s and an increase in commercial Evidently the support which ade the bond market so strong in the past month has not been com- ing alone from the bank: Southern Railway Asks I. €. Permit for $6.900,000 Issue. The Southern Railway applied to the Interstate Commerce Commission today for authority to issue $6,900,000 of 41, per cent equipment trust cer- tificates, the proceeds to be used to 61 locomotives, 25 coaches, 1o ce express cars, 4 postal cars, 6 bagsage cars, 1,000 coal cars, 1,000 box cars and 250 ballast cars and other equipment. C. BONi) }SS{JE PLANNED. The Delaware and Hudson Rail- ¢ applied to the Interstate Com- merce Commission today for permis. sior. to issue and sell $2,186,000 of ‘first and refunding mortgage 4 per cent gold bonds. ¢St L Swn pf (5). '%|savage Arms(4). aboard Alr L. . aboard A L rts 2% | Seabd Alr L pf.. Sears Roebk(6). Seneca Copper. Schuite (§8). ... | Seagrave (1.20). Shattuck F G (2) Shell Un (1.40).. Stmmons(12.25). Stmms Pet (1).. % | Sinclair Ofl..... % | Stnclair pf (8).. Skelly Ofl (2) e Sheft (6).. South Port S ¢ South Pac (8) Southern Ry (7). 4 | South Ry pf (5). | Spicar Mfe. ... Std Gas & EI (3). | Stand Mill (5). St 011 Calif (2). StOfINJ (1)... StOfI N J pf (7). 5 | 2044 % Std Plate Glass. | Sterling Pro (4). Stewart War (€). Stromberg (6) . studebaker (8). Submarine Boat. verior Ofl.... mington. 80% 821, | Tenn Copper (1) | Texas Co (3).... | Tex Gulf Su(10). Tex & Pactfic. . 44 | Tex & Pac C & O 14| emex Pac Ld Tr. { Third Avenue.. {Thomp JR(3.60). Y | Tide Water (1).. | Ttde W Ofl pf(5) Timken R B (+4) 74 | Tobac Prod (6).. % | Tob Prod A (T) | Tran=cont OI1.. s | Twin City pf (7) % | Un Baz & Paper. | Unton 011 (2). | Un Pactfic (10) Un Tank Car(5). 50c) . UtdCigar(*3%) United Drug (7) Utd Druglst 3%. Utd Fruit (112). |USCIP&F(19). SCIPDL (7). 8 Distributing A s 154 574 S Hoftman (3) Ind Alcohol. S Realty (n).. j § Rubber. . U S Rub 1st (8). J 8 Smelt (3%). U S Steel (17) Universal Pips Univ Pipe pf (7). Utll P&L A (2). Vanadium (2). Va-Car Ch(n)w | Va-Car Ch 6 %pf. Va-Cat Ch 7%pf. Vivaudou. wabash. . abash pf A (3) Waldorf (1%).. 184 ward Baking B. 64% Ward Balk pf (T) 109% Warner Bros.... 15 Warren Bros(4). 47% Weber (4) . 604 West Mary! 18% western Pacifie. 36k WesthseAB(17). 116% | Westinghse (4). 72% Weston Elec.... 17% Weston A (2)... 3l Wheel & L Erie. 24t wheel & LEDL. 43% White Eagle (2). 27% White Mot (4).. 8l | White Rockf1.80 85 | Willys-Overland 27 Willys-Od p£(7). 96% wilson Coctfs.. 5% Woolworth (5).. 194% Worthn Pump 37% | wright Aero(1}. 30 | wrigley Wm(t4) 54 T&C (T50). 29% Yel Tr&C pt (7). 964 Youngstown 4). 76% Dividend rates as given are the annual cash Pasments based on the fatest auarterly ‘or half yearly deciaration | Uiess otherwise noted. extra or svectal divl: e A fhie ' ToAF o reeular rata. b optional. in stock, < SBarkly stock him y e bs o84 74 105% 45 125 24Y 2% 35 314 20% 6074 95 29% 43% 3 29% 54 29% 961 961 964 % \T6% 77y in the above table Lok Bayabie” T % martorls: r‘"n ook pay % 15 soak savanls 1% o iksierty. . D. 0, SATURDAY, FEBRUARY 27, 192. BONDS IRREGULAR | [~ vorx BONDS o v Received by Private Wire Direct to. The Star Office Lib 3%s... 310 Lib1st4¥s 21 Lib2d4%s 47 US 4s 1944 US4%s'sz 11 Argentine bs Argen 6 I '59. Argen 68 Oct '59 Argentine 6s A. Argentine 6s B. Argentine 7s Australian 5! Austria 7 . Rank of Chile 6 Bank of Japan 6 elgium 6s Relgium 6%s Relgium 78, Relgtum 758 Rerne 8s. Ro'ivia 8 Rrazil 7s. Rrazil 8 ses- Canada 5 1931. Canada bs 1952, Canada 5151929 Chiie 75 1943 Chile 851941 Chile 85 1946 Chinese Gov Ry Con Pow Japan 7s. Copenhagen 5%s. . Cuba %s . Czechoslo 7146 rot: “zecho 8s 1852 et Danish Munic 85 A. Danish Munic 8s B. Denmark 6s...... DEI5%s Nov ‘63, Dutch East I 6347 Dutch East I 6s El Salvador 8348 Framerican?%s. French 7s French 7% | French 38 German Ei German7s........ Ger Agr Bank 7s. Ger Gen Elec 75. Hait1 65 Holland Hungary 6%s. Italy 7s.. Japanese 43. Japanese 634s. Lyonss. .... Mexlico 4 4 asn Mexlen 45 *10 asntd Mexlco 55 assented Montevileo 7s. . Norway 6s 1043... Norway 6s 1944. . Paris-Ly's-Med 63 Peru TH%s Peru 8s. Poiand 6s "40... Poland 8s. . Prague T%s.. Queensland 6s. .. Rio de Jan 85 1948 Rio de Jan 8s 1947, Rio Gr Do Sul 8s. Sao Paulo 1950 Saxon P W 7s. Seine Dept cf 7s. Serbs Crot Slo-! Swiss 518 1946. Swiss Conted 8s Ud Kingm 6% '29. Kingm 5%s'37. Steam Copen 6s. Uruguay 8s . Zurich 8s. .. . Afax Rubber 8s. ... A Agri Chem 7% Am Chatn 6s. . Am Cotton Ofl 5s.. Am SmIL& R 15t 58 Am Sug ref 8 AmT&Teltr AmT &Teltr AmT&Ts10s.. AmT & T deb5%s. | Am Writing Pap 6 Anaconda 1st 6s. .. Anaconda cv db 7. Andes Cop 7s1cts Armour & Co 418 Armour Del 53s. .. Atlantic Refin bs. Barnsdall 63 otes. ell Tel Pabs B Bell Tel Pa 58 C Beth Steel pm | Both Steel f 6. . | Beth Steel & Bethlehem t 1st 548 gen 6s. | Brookin Calit Pete | “hile Cop | Col Gas & E1 5 Con Coa! » Consumers Pow uba Caneov 78. .. uba Cane cv d 83 Cuban Am Sug ¥8. | Dery (D G) 78, { Det Edison ref 63. ! Dodge wi6s. ... | Duquesne Light 6 st Cuba Sug TS Empire G & F 7% wisk Rubber 8s. Goudrich 8% | Goodyear 8s 1931.. Goodyear:5s 1941. . | Hershey 5%s. Hoe & Co 6148 Humble O & R 5% { Int Mer Marine 6. int Paper 55 '47.. | tnter Paper 68 | inter T & T 3% KCP&Ltss A'52 Kelly-Spring 8 Lackawa S Lacl G re i Laclede G 5348 '52. Lorillard (P) 6s.. - | Loulsv G & E b5 '52 | M1a-Con 6% 40 | Midvale Steel 68, Mor's & Co 15t 449 ¢ | New Eng Tel5 ¥ Tel 4% N Y Tel 6s’41.. North Am Ed 63 N Y Edison 6%s Nor Ohlo T & L {-s. Nor States Pow 58. jOotis steall g%! | s Steel §8. . ! g:‘l:lflc Gas & E1 5. | Pac T & T 68°62. Pan-Amer Pote 8s. Pan-Amer Pete 8 PhilaCo5%8 ‘38 Phila Co ref 63 A.. Pierce-Arrow 88 Public Service 6s. . Pub Serv Elec 63. .. P Serv Gas6%s 59 femingtn Arms 6s. Sinclair Oi1 7 Sin Crude Of1 6s. .. Sin Pipe Line bs... Skelly O11 6%8. | So Por Rico Sug 73 | Southwest Bell 5s.. | Sug Iist Ortent 78.. | Tenn Elec Pow U S Rub 1st rf bt U S Rubber 7%s sfbs.... Utah Pow & Lit 53. Vertlentes Sug 7s. . Warner Sug 7s'39. \Varner Sug 78 '41. West Elec 6s...... Westn Unlon 6%s. Westinghouse 7. . Willys Ov 614833 Wilson & Co 1st 6s. Youngstn S& T €s. Atchison gen 4s. . . Atlan C L 4%5'64. At] & Dan 2d 4s 48, B & O Gold 4s. 1021 100 26 100 24 Lib3d4%s 139 1014 3.1b 4th 4%2 207 10212 102 10 15 1046 1046 107 28 107 26 FOREIGN. 1018 i UNITED STATES. (Sales are in $1.000.) Sales. High. Low. 1004 10t 1021 Close. 1012 1021 100 24 1013 10211 104 6 107 26 Sales. High. Low. Close. 1 88 42 98% 14 98% 25 98% 10 987% 5 101% 100% 1004 101 103% 9b% 89% 935 103% 1167 69Y% 118% 1047 94% 110 108% 12 2 13 1104 7 105 6 100 51 9 20 99% 14 1044 26 97% 11 102% 9944 1044 102% 858 9414 99% 110% 102 105% 974 101% 3 104% 6 100 6 99% 102 91y 101 90 121% 108 102 99 105 109 105 98% 107% 106 9614 29 86% 97% 101% 112% 105% 102% 1008, 102% 12 6 RAILROAD. 12 90% 1 95% 2 69 ? 9l MISCELLANEOUS. 104 105 100 104 97% 102 99 104 110% 1014 1 97i% 101% 104% 100 9% 102 100% 89% 121 107% 102 98% 104% 108% 1056 933 % 105% 9615 984 81% a7 100% 112% 106% 102% 100% 1024 80% 954 69 9 88 991 9974 1087 20 10715 961 102% 110% 121 1001 984 102 854 9448 995 110% 101t 1055 974y 101% 1044 100 09% 102 944 874 i | Canad North 6%s. i | Centof Ga b%s. Sales. High. Low. Close. 95% 95% 95% 30 95% 95% 95% 103% 103% 108% 103% 108% 1034 106 105% 106 90% 90% 90% 99% 99 99% 4% 04% 94% 88% 83% 88% 99 99 94 94 104 104 117% 117% 116 116 824 82% 107% 107% 104 104 90% 904 98% 98% 9815 98% 126 126% 66% 564 92% 92% 104% 104% B4% B4% 6% 76% 66% 66% 50% 50% 49% 49% 83 83 60% 50% 49% 49% 9% 9% 60% 60% 61 51 50 50 101% 101% 107% 107% 74% 744 89 89 101 101 834 833 103% 103% 100% 101 106% 106% 984 984 9% 9l% 107 107 92 92 110% 110% 87% 88 67% 67% % T8 70% 70% 2% 2% 2% 2% 82% B3% 106% 105% 106 105 9% 9T% 107% 107% 115% 115% 4 99% 991 104% 104% 112% 112% 93% 93% 94 94% 78% 79 106% 106% 9% 0% 69 69% 71 2% 1% 91% 2% 2% 22 22 64 64 5% 6% 96% 95% 86% 864 98% 98% 97 97 83% 83% 102% 62% 98y 944 22Y% 89% 103% 86Y% 83% 9414 98'% 103% 67 934 104% 104% 62% 8514 98% 103 | Bkiyn Manhat 6 Buff R & Pitt 4% | Can Nat 4345 80 iCRn Nat 4%s 64 | Canada South 5s. Canad North 7s | Fanad Pac deb 4 ! Car Clinch & O 6s.. Central Pacific 4s. . Cent Pac 1st 5= °90. Ches & O cv 4%s... Ches & O cv bs. Chi& Alton 3% ChiB & Q gn 4568 ChiB& Q 1strf bs. CB&Q-1113%s, Chi& E1gnbs. Chi Great West 4 CM &St P4s’25 CM&StP4s25cts CM & StP gn 4s°89 CM&StPev4y CM&SPcvd ¥ s32cts CM&StPgn4lgs. CM&StPr4Ysef 14 CM&StPevbs... CM&SP cv bscfs 14 Chi& N W ref 6s. Chi & N W 7s.. Chi Rys 68 ChiRI&Prf 4 . Chi Unlon Sta 6s '44 Chi & W Ind cn 4s. C& WIhF%s'62 CCC & St L 5s. Cleve Term 5% C&S 1st 45°29, Cuba RR6s. .. Cuba R R 7Hs. Del & Hud 1st rf 4s. Del Hud cv b3, . Den & Rio G en 4s. . D Rio G West 6s. . rie 1st cons 4s, Erle gen 48 E£rleconv 4s A. Erle conv 43 B. Erte conv 4s D. Erie & Jersey 6s. Erle Genesseo R 63. Fla EC5s'74. . . Gr Trunk sf db 6s. . Grand Trunk 7s.... Great North bs. Great North 63%s. . Gr North gen 7a Havana ERL&P Hud & Man ref & Hud & Man aj b: 111 Cen rf 55 65. Int Rap Tran 5s | Int Rap Tr 63 stpd. 100 Int Rap Tran Int Rap Tran Towa Cent rf 4s. Towa Cent 1st 6s. Kansas City S 3s... 10 Kansas City S 6s... Lake Shore 4s '28 Lake Shore 4s '31 Lehigh Valen 4s. .. Lehigh Val 53 2003. Market St 78 40 MIIEIRy &L 5s. .. M&StL1strf4s.. M St P & SSMcn ds. M StP & SSM 6% MK &T 1st 4 Mo Pacific gen 48 Mo Pac 55 1965.. Mo Pac 6s 49 D, MoPac6sS5E..... | Nassau E Ry 4s°57. | New Or Term 4s... |NO Tex & M 5s B.. NGT&MGbY%s N Y Centdeb 4s. ... NYCentribs N Y Cent deb 6s NY Chi&StL5%s A 19 NY Chi&StL5%s B 18 NYC&StL6sA.. 3 w Hav deb 45 '56 w Haven cd 6s.. Y Ont W 1st 4s 107% tate Ry 4145, NY W & Bos 4%4s. . 8714 Northern Pac 5s D. 100 | ¥orthern Pacr16s. 5 ©re Short L ref 4s. 5 sre-Wash 1st rf 49, 11 ‘ennsyi con 4 s 100 12 4 1074 381 87 1025 1011 | Pennsyl 6% Pennsyl gold 7s. a & I inc 49 Pere Mrq 1st 1s "56. Pere Marq 1st bs. jpccas {PorRL&P 6 fteading gen 4148. . ding J C 4551, 0G W 1st 457 LIATK& L4tas... L IM&S 45-25... | SLL IM&S R&G 4s. |StL&SFpldsA.. | 80 ISt L& S F prIn b 964% 1005 | !StL&SFadjés... StL &S Finc6s. .. StLS W con 4532, | StP & KCShL 43%. Seab A L ad; 68.... Seub A L con 6s.... | Seaboard Ali Fla 63 | Sou Pac 4829 | Sou Pacific ref 4s. | Southern Ry gen 4s | Southern Ry 1st 68, | Southern Ry 6sct.. | Southern Ry 6%s.. | Sou Lty Mobtle 4s | Term Asso S Lids.. | Third Averef 4s. | Third Ave adj 6s... 23d St Ry bs 62.. | Unlon Pac 4s '27. Union Pac ev 6s. Virginia Ry 1st Va Ry & P 5¢ 804 61 58% 681y 993, 102% 101 9814 102% 4 100% 687 98 abash 5%8 '75. | West Maryrand 4s. Western Pacific b Wisconsin Cent 4; Nine Officials of Chicago Brokerage Office Are Indicted. CHICAGO, February 27 (P).—A $§1,- 000.000 fraud, alleged to have been perpetrated by M. L. Meyer & Co., a | brokerage concern, was disclosea yes- terday with the return of Federal in- dictments against nine officials of the company, charging them with using the mails to defraud. Those ramed are Max L. Meyer, president: Milton Appleman, Murra; M. Heitell, Eli J. Kleinmann, Sam Harris, David E. Reinwald, Jake L. Sggleston, Nelson . Murray and I, | J. Boyle. The specific charges are that the company and individual de- fendants induced numerous persons to buy original stocks and bonds of well known corporations, but instead of buying and delivering these, sub- | stituted other securities of much less value under the pretense that these i securities would pay large dividends. CANADIAN TRADE GROWS. OTTAWA, Ontario, February 27 (P). —Canadian trade with the United States is growing. In the 12 months to the end of January, according to the Bureau of Statistics, imports from the United States were $5%8,000,000, an increase of §71,000,000 over the previous vear; exports were $472,000,- 000, an increase of $56,000,000. Total trade increased $127,000,000, 4 1114 | 1040 | FINANCTAL m—————;———m COTTONISLOWER | COMMODITY PRICES IN DAY'S TRADING Report Acreage Is Not Being Cut Proves Bearish—Cloth Sales Slow. NEW YORK, February 27.~The cotton market opened today at a de- cline of 2 to 11 points, active month’s selling about 8 to 14 points net lower during the first few minutes in re- sponse to lower Liverpool cables, continued good weather in the South and rather less favorable reports from the cloth markets. July and later deliveries made new low ground for the movement, but there was a good deal of covering at the decline and the market soon steadled, prices showing rallles of 5 to 8 points from the lowest with May selling around 18.81 at the end of the first. hour. A report that a private survey of the cotton belt showed no indication of an intention to curtail acreage at- tracted bearish comment, but reac- tionary sentiment was considerably in evidence after a decline of over a (‘entku. pound since the end of last weelk. New York futures closed barely steady at net decline of 13 to 18 points. Low. 19.23 1860 1808 17.50 Close. March 9 May : i October ", December ". ... 17.82 1720 Opening: March, 19.27: M 18787 O&iober. 17.80: Decemper 1 New Orleans, Cotton. NEW ORLEANS, February 27.— The cotton market opened a contest, but easfer, first trades showing losses | of 7 to 10 points, which was more than warranted by Liverpool cables. Prices continued to ease off after the call on selling based on the poor spot situation and on continued good weather in the belt. March traded down to 18.60, May to 18.07, July to 17.67 and October to 16.92, or 14 to 19 points below yesterday's close. Near the end of the first half hour the market rallied on week end cov- ering and on straddled operations be- tween here and New York, the mar- ket being bought against sales in the northern market. New Orleans futures cl decline of 17 to 20 points ed easy at a net _Opening " Marc 17.65; October, 16.98: TODAY'S GRAIN MARKET. CHICAGO, February 27 (#).—With talk current that probably on Monday private estimates of domestic farm reserves of wheat would be smaller than have been looked for, wheat to- day took an early swing upward. The fact that prices here recently have had a severe setback and that Liver- pool quotations this morning showed an_unexpected upturn tended also to induce buying here and to give values a lift. Besides indications pointed to a liberal decrease of the United States’ visible supply total Monday and to \ smaller world hipments. Chicago | opening prices, 1; to 1 cent higher, | May (new) 1.644 to 1.641; and July {1 were followed by moderate further gains. Prospects that receipts of corn will | continue small for a time gave inde- | pendent strengthi to corn. After open- | ing unchanged to % higher, May 79 {10 797, corn scored a decided general | advance. | Oats were firmer, sympathizing with jcorn. The start was unchanged to a | shade higher, May, 41% and slight { upturns all around ensued. ! Higher quotations on hogs helped | to strengthen provistons. CLOTH MARKET QUIET. NEW YORK, February 27 (Special). ‘otton goods markets :were quiet Ain today but fully firm. The 68 print_cloths regained the they | Tost being quoted at 101§ | The 6: tood at £12. Raw s | were ;Washingtdn vStqck Ekchange | o Washington | 807, $1.000 o b | Washington Rwy. & Flectric y. & r. 6e— $1.000 at 103 Washington G, $1.000 at 10315, Bank—35 at Federal-Ameri 1 | 400, 10 at 400, 10 af s Washington Gas Light—1 at 73%, 30 at | apital Tracti Co.~~100 a % IRt~ 0 " Ao [} UNLISTED DEPARTMENT. | Metropolitan Club 41,4—S1.000 at 771, Bid and Asked Prices. BONDS. PUBLIC UTILITY. ton Rwy. & Amer. Amer. Te Am. Tel Anacost Anacostia & Pot T & P Telenhone bs phone of V: Potomac Potomac | Waen. Bat. Whachiaeton shington Gas O.. . h. Rwy. & Eled Wash. Rwy. & M D. €. Paper Co. fg. . Pot. Joint_Stock L'd Bk Southern Bldg 616s. WM. Cold Storage’ ba. STOCKS. PUBLIC UTILITY American Tel. & Telga. Bs.. N &V | pot. Elee. Pow. Pot. Elec. Pow. T ah. Rwy. & Elec. coul.. Wash. Rwy. & Elec. ptd.. | NATIONAL BANK National Capital Columbia Gommercial Pmers” & Mechanica Federal- American ... . | Liverty . Tincoln | National Rigks . second S Natl. Bank of Washington. TRUST COMPAN can Security & Trusi Sontinental Trust Bank National Savings & Trust.. nlon Trust... .. Wash. Loan & Trast. Commerce & Savings Eant Washinaton. . Seeurity Savings & Seventl street”.. Uiited States Withiokton Mechanics FIRE I} American Fire. dareoran Firemen s National Union.. . TITLE Columbia Title. Real Estate Ti MIS !p. c. Paper ptd.... Federal Storage pid Merchants’ Trans. Merchants' Tran. & Nat. Mtge, & 3 Ol Daten Market bl Lanston Security Stor. iiston Ex db WORK DOWNWARD Stocks Drop and Investment Activity Slows Up During Week—The Outlook. BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, February 27.—During the past week the main incidents in the financial district have been the continued downward tendenoy in com- modity prices, further sharp reces- sions in the greater part of the stock list, a slowing up of the investment activity, which was such a feature a week ago, and withal a somewhat bigher drift in money rates. These movements have been rather contradictory. Ordinarily stock mar- ket liquidation and lower valuations on industrial products ought to call for easier money and & rising inclina- tion in Investments. The fact that time loans are quoted fractionally higher, and that call loans are not 8o readily available as they were, can only be explained on one ground. This is that interior banks have not been favorably impressed with the figures on Wall Street credits as they are now being published week by week. These statistics have led to the suspicion that the Stock Exchange position has been inflated and have, in conse quence, made out-of-town Institutions less ready to lend out their balances on stock collateral, Borrowings Not Excessive. This feeling of uncertainty does not seem be justified. Taking into account the increase of 70 per cent in new stock listings and of 20 per cent in new bond listings during the last six years, the total Wall Street borrow- ings, while they appear high, are really not excessive. They simply cor respond to the natural Increase in credit demands growing out of the much larger volume of securitles which has to be taken care of. The main difficulty with the stock market is not a money difficulty. Lit- tle attention would have been pald t. the slight hardening of money rates had there not been over speculation and undue upbidding of prices in vari- ous directions. But the higher tend ency in the money market has been emphasized because of the reckless operations for the rise which went on during the Autumn and the early Winter, especially in the industrial section and In some of the public util ities. Tax Bill Inspires Selling. One explanation commonly glven for the recent Wall Street decline is that the passing of the income tax bill, in- volving a substantial cut in surtaxes, has made big holders of stocks feel more willing to sell. Very likely this has had a good deal to do with the course of the current market. On the other hand, there is no evi- dence as yet that diminishing the bur den on the wealthy is causing an ex change of tax exempt securitles fo securities which have to bear the tax Within the week the tax-free Libert: 31,s have sold at the highest of the year. Commodity Consumption High. All business reports continue to the sffect that the volume of consumption s unusually large. Still consumers are not in the state of mind they were three vears ago when there was i scare ahout future supplies. They feel onfident that the market will not run {away, and are therefore buying for i the most party for immediate needs only. This Is a situation which does not make for higher prices. Dun's Review reports for the last week th of the price changes noted for com- modities, 41 out of 54 have been de- clines. There is an intimate c 1 tween the commodity D! uation and the recent trend of stoc At the outset of the year predictions re garding the business future were more optimistic than have been justified by bsequent events. This has not been due to any falling off in the trade vol ume. All the da the way car loadings arings, an | s earnings in gener: ave bec i g the trouble is tha | | nection be bank el ken i low profit margin. mple of low T in the cotton t option. repre: view of the new co son, is around 1715 | pound. is below | cost of production. Unless th | cotton planting is restricted, or unles; | some ertakes the new crop the 1 cotton g the pri of doing I loss. | French francs have made a_mod | erate recovery during the week. 1| is probably due to nothing more tha: the covering in of a of the ex tensive international interest To some extent it reflect the hope that the new fiscal will go through in a form which will be adequate to balance the budget But there have been so many disa pointments along this line that fr banking circles there is no great con fidence in the outcome. (Copyright. 1926.) 2 G FOREIGN EXCHANGE. (Quotations furnishec by W. B. Hibbs & Co + ices is o be note: | Decembe: present Nominal Sellt old valu London. poun Montreal. dollar Oslo, crown % Stockhelm, ~crown. . .| SHORT-TERM SECURITIES. (Quotations furnished by Redmo Adirond, P. & L. C Alum. Co. of Amer. 7 | Amer, Beet Sugar 6s 10 | Am. Tel. & Tel. Co. 4s 10 Anaconda_Copper Gs bt Ry 1] & Pac i of Lyon i "% E Vear | : Great Sorthern e 030 Gulf Oil Corp. Pa. blgs Hock Vai " R 28 Huimite Oit 570 192", 0 Pow. St s M E Mo pag. Moris & New Yor Drezon Short Pena. R. R EPERE ELEE U. S. Rubber 733s 1930 . Western Union 61as 103 1 Westinghouse E.&M. 7s 1931 1 SESEY f Rt 03% TREASURY CERTIFICATES. (Quotations furnished by Redmond & C: Fire destroyed warehouses in the ¢ port of Rio de Janeiro. Brazil, recent- ly, causing a loss of $750,000.