Evening Star Newspaper, March 7, 1926, Page 42

2 FIVE BIG FAGTORS IN STOCK TUMBLE Traders Agree on Causes of Drop, But Are Divided on Next Probable Trend. By the Associated Phess. EW YORK, March 6.—Over- shadowing all other develompents in the week's financial markets was the sensational break in stock prices, the sreatest in history, followed by an frregular recovery, the ultimate effect of which the chief subject of discussion in Wall Street when the week closed. Stock trading had no sooner returned to normal propor- tions, howey when the Briand ministry fell in France as a result of it legislative defeat on the sales tax and French francs crumbled over 12 points to around 3.60 cents, or within striking distance of the ye: low of 3.541 cents. While opinion of professional stock market observers is still divided as to the mext definite trend of prices, there was an almost unanimity of nzreement on several points. These were: 1. That speculative oper the long side had been g done in many issues 2. That the technical y market has been improved recent reaction. 3. That the decline wa ciated with any actual ch ness, although the future husiness is still a controversial ject 4. That infl was not commodity ally; and 5. That there credit situation, forerunner of declines of the In some quar vise in stock pr the oils and copper: participated extensive! advance, in the forefr other quarters opinions Jositive are held that the jovement, which has been in p s over two vears, is definitely over d that the t is under way. NARROW PRICE MOVES IN BONDS SATURDAY Domestic Industrials and Rails Firm—Heaviness in French Obligations. was tions on sly over- sition of the by the not asso nge in busi- trend of sub. es inied by inflation of s or business gener is no strain on the which has been a most of the violent the usual Spring es is looked for, with which had not in the recent nt: while in equally as By the Associated Press NEW YORK. March 6 price fluctuations attested the return of normal trading conditions in to- day's brief session of the bond market. Firmness of domestic yail- road and industrial liens. contrasted with the heaviness of French obliga- tions, gave a touch of interest to rwise dull day Lively rallies in Chesanenk Ohio and Erie Railroad bonds, pred icated upon the outlook for better terms_in angements of the el an. were the high lights of the day’ apeake convertible rige in the company’s siocks to new high levels, attained 26 peak above 144 on a net f almost 4 points. FErie Gener jumped more than 3 points. Advances else- where were more moderate, although the upward movement in the rails included Chicago and Alton 3las, St Paul 415, Lehigh Valley 5s, Louisville and Nashville 4125 and Delaware and Hudson The unexpected fall of pinet led to scattered liquidation | P overnment. municipal | and railroad « ms, but the sell- Ing pressur be heavy. L vere to fractions. BALTIMORE PRODUCE. BALTIMORE, March 6 (Special).— } Receipts of native and nearby eggs continue to run rather liberal and gen erally in exc of the demand as buyers continue to take hold for imme- diate wants only and the market rules v and values <hade low ain from last week 'he market closed today at 263 and A dozen for native and nearby firsis in free cases, a drop of 115 cents a dozen from last week. Receipts of duck and goose eggs continue very light and under a good | ind constant demand the market holds firm at 45 a dozen for the former and 75 to 85 for the latter The live poultry market is practi ally bare of desirable young chickens and rules very firm at 42 and 44 pound for Winter chickens 2 pounds and inder, 36 to 38 for large fat chickens and 32 to 34 for Leghorns. In fact, all aung chickens are in good demand, aven light, poor fowl bringing 27 and Old hens also in_good demand light receipt. Movement con 33 as to size and orns. Old while capons —Narrow the Brianl time limited oosters firmer at 20 \ve scarce and wanted at 37 to 44. Season for turkeys drawing to a ose and under light receipts market nolds steady at 40 to 50 pound for oung gobblers and hens, with the lat- ter bringing top values, 40 fc old +oms and 25 to 30 for poor and crooked breasts. Market for ducks continues very flrm at 33 to 35 for medium to large stock and 25 and 26 for small ind pe ese are in ample receipt and sea near an_end; market is casy at 24 to Guinea fowl and Jigeons in good request and under only sipts. Market holds firm | cach for young and 35 to | ind old of the latt Dressed poultry, with the exception f turkeys -apong, will not bring are the emium, sell for large only line that brings a y ing as high as 48 a pound stock 7 pounds and over. White potatoes are in more liberal eceipt and market rules quiet under ondy a limited demand, which is cen ered on first quality stock at 4.00 to | 1.50 per 100 pounds. and 2.0 and 3.00 for culls and No. ket for sweet potatoes and yams hold steady at 4.00 | to 5.50 barrel for the former and 330 to 4.50 for the latter, but top prices are obtainable only on good dry fancy stock. Culls and No. both sweets and yams, sell mostly 2.00 and $.00, while bushel bring 75 to 2.25 as to quality and condition. Native and nearby garden truck con- tinues fairly active and with the gen- eral movement centered on first qual the following quotations: 1.00 bu., and turnips, 20 to 35 basket. WEEKLY BANK REPORT: Ithe year before. { charges, WALL STREET BRIEFS NEW YORK, March 6 (#).—The shipping industry has definitely turn- ed the corner, in the opinion of Sir Ashly Sparks, managing director of the Cunard Line, who sailed for Europe today. “I believe business much better from now Manufacturing loss of $2 20 for 1925 is reported by the United States Worsted Co. against loss of $323,6277 After depreciation and inventory was a deficit of $797,758, compared with a deficit of $791,936 in 1924, interest write-offs there Proxies from other shareholders of H. B. Mallison Co. are being solicited by Edwin A. Shewan of New York and E. M. Love of Pittsburgh for the | purpose of obtaining representation on the company’s board of directors. “Our intention is not to disturb the present technical management,” a letter to stockholde: “but to obtain for ourselve other in- vesting stockholders simil; situated full inforfhation as to the condition of the company for such action, if an as may seem desirable in the interest of all concerned. E. Turner has been elected secr v and a_director of Onyx Hosiery ( succeeding Walter E. Hope. Net profit for 1925 amounted to $1,275,070, including $216,620 profit from a real estate sale, in contrast to net loss of $159,142 in 1924, Cuban Tobacco C‘o. Yeports net pro- | fit of $1,492,674 for 1925, equal after | dividends on the 5 per cent preferred | to $8.45 a share on the common, | against $491, or a share on | the common in 19: Corxolidated net earnings of Philip Petroleum for the last quarter of 1925 | $5.230.200 after expenses and | 3 before depreciation and de- | compared with $3,089,674 esponding quarter of 1924, Actual earnings of Safety Cable Co. | for January, a month of derground work, were $£108,452, all charges, including Federal tax re- serve, equivalent to 66 cents a sha twice” the regular dividend require- ments for the period. Unfilled orders on March 1 were 20 per cent in e cess of bookings on this date a vea ago. | Pr Steel Car Co. is inquiri for tons of malleable or « wheel iron, the first large negotiation | the trade has received for some time, | Although the rejection of the Nickel | Plate merger plan by the Interstate Commerce .Commission is expected to cancel “when issued” contracts in the “securities of the proposed new | Nickel Platee company, the New York | Curb Market announced today that no official ruling had vet been made on this stock and that deposits had not been released. 33 MUSICAL MILKMEN. Chorus Appears in Hall Used by Symphony Orchestra. APOLIS, indispensable but seldom seen, has bheen ele- ted to a high musical anding in Minneapolis through the activities of the male chorus of the Franklin Co- uperative Creamer ot This conc protege of local 1de unions, has cultivated the voices stilled during the quiet hours, until the chorus | of members has more offers for local engagements than it can fill. Drilled by Olaf Halten, base violin player with the Minneapolis Sym- phony Orchestra, the singing milkmen attained unprecedented heights by ap- MI The March 6 milkman, ). often ball retained by the symphony. « | and correspondent offices, pearing in concert at the same music $10.430,190,] THE SUNDAY STAR, WASHINGTON, BROKERAGE LOANS GAIN $2416.167 February Sees Marked In- crease Over January—Time Borrowings Also Up. By the Associated Press. NEW YORK, March 6.—Total Dbrokerage loans held by member firms of the New York Stock Ixchange at the end of Kebruary aggregated $3.535,690,321, @M increase of $22,416. compared withi the amount out- standing at the end of January. An increase of $44,630,802 in time loans, contrasted with a drop of §22.- 114,334 in call Joans, as compared with the January figures, gave an indica- tion of the cHange in credit conditions during the month. The larger amount of long-term borrowing was believed to represent loans on securities for investment distribution, resulting from the heavy volume of new financing in February. The decrease in demand loans was attributed to the lighter flow of funds from out-of-town banks for placement in the call market. The aggregate of call loans at the end of February, $2,494,846,264, rep: resented 70 per cent of the total bor- rowings, while the remaining 30 per cent was accounted for by time loans of_$1,040,744,057. The report of member loans made by the exchange a month ago was ac- companied by an estimate of total bor- rowings through out-of-town branch the Stock Ixchange authorities explained, Tt has been found that this figure failed to reveal the aggregate amount of funds borrowed for out-of-town C- counts, since it did not include borrow. ings of the many out-of-town cus- tomers. who deal dierctly through Xew York member offices. Moreover, ince the published figure was widely misunderstood, it led to misinterpre- tation of the other statistics in the re port. Accordingly, it has been omitted from the present summary and will be omitted in the future. Since this estimate of borrowing in New York by out-of-town offices was imply a special segregation of items already and completely included in the other loan totals, its inclusion in the report last month did not serve to incre these other totals at all, and thus its omission this month will not serve to decrease them in any way. DAWN OF NEW DAY. Turkish Women on Stage First Time in 500 Years. ANGORA, March 6 (#).—For the first time in 300 years Turkish ac tresses have displaced Armenian actresses on the Turkish stage. Befora the Nationalist government came into power, a Turkish audier would have been shocked to seea Turk ish woman before the footlights. But now at least eight Turkish actresses have made their appearance, and only two Armenian actresses of any note remain. Until a few years ago the Turkish provinces had never known the drama. They were familiar only with itinerant singers, acrobats, vocal minstrels and an o onal Armenian comedian from Constantinople. Mme. Bedejiar Hanum of the Na- tional Dramatic Company was the first woman to appear and now she is received enthusiastically everywhere. . S The week’s bank clearings through- calculated at $12,- 3 v the Commercial and Fin Chronicle, compared with year ago. New York Yity gained 17.5 per cent. ed by W. 000—Cit; tburban Ry. Ist 00—Gieorgetown Gas Lt. 1st 9,000—Pot. F Power 1st bs 39,000—Pot. E Power Cons. s 300—Pot. Elec. Power Gen. & Ref. 700—Pot. I Power Ref. 41,500—Wash. Light Gen'l 3s. 4 ~Wash. s Light 6s...... & I 500 Co. 3,300—Wardman Park Hotel STOCKS. tal Traction ... hington Gas ty. & Elee. com. & Elec. pfd. Power pfd Power int. Pot. Pot. Commeref -Distriet 342—Federal-Amer $3—Liberty Nati 10—Lincoln National Bank Metropolitan National B: ggs National Bank. Washington Natiof al Bank Continental Trust 30-—Merchants Bank Union T i ~Federal Storage pfd. 0—Lanston Monotype . 3—Merchants T Stof Tergenthaler Linotype tional Mtg. & Inv. pfd. rfolk and Washington —Security Storage 40—Washington Market 3 UNLISTED I Chapin-Sacks 8% pfd Departmental Bank 0—Northeast Savings Bank. Raleigh Hotel Co. BONDS. $1,000—Metropolitan Club ....... THE YEAR 1926 TO DATE ON THE WASH INGTON STOCK EXCHANGE. luding Saturday, March 6, 1926. 6— Merchants torage pid. . B. Hibbs & Co. Open. 95 Close. 95 100 99% 100 86 a8 100 993 10615 1063 Low. 95 100 High. 95 10015 993, 10014 86 98 1001 100 106 1063, 1001, 991, 104 b 104 81 81 { 103 103 1021 101 1055 6s. 118 400 e 62 SPARTMENT. . 100 Specia® Dispateh to The Star. NEW YORK, March 6. Stocks (average of 50 shares)......... Bonds (average of 40 issues). ... e Foreign bonds (average of 10 issues). Federal reserve ratio Money rates in New York: Call Time Unfilled steel orders . Pig iron production . Building permits: Number of citif Amount ....... Commercial failure Number Liabilities . Revenue car loading: NEW YORK. M 6 (PY.—The ac- nal condition of clearing house banks ind trust companies for the week “hows excess reserve of $14.874,840. This ‘s an increase in reserve of 10,200,610, compared with last week v es eacess peserve totaled $4,674,200. All commodities ........ Grain and grain produc Coal and coke Forest products . Miscellaneous product ore . A Live si i 149 Financial Highlights of Brought Out in Nutshell by Statistics $48, Week This week. High. Low. High. Low. | ... 12883 125,08 13600 133 This week. Last weel. | 86.93 103.93 | Last week. Year ago. | 74.0 3 1 This week | Last week. Lo G anidbete? This week. Last week. Month of Jan., 1926, 4,882,739 106,974 426 1,346,116 391 $330,489,044 426 $248,448,899 2,340 | $64,440,936 2,073 27,004 { 925,886 ‘ 41,188 178,915 83,070 D. C, MARCH 7, 1926—PART 1. Tomorrow at Kann’s— A Solid Carload of Fine Loom-Woven ~ Fiber Furniture at Very Special Prices! This Three-Piece Suite, Special at . . . —It is strongly constructed, with extra steel braces in backs and seats and is most attractive in desi The settee is 48 inches long, the chair and rocker nice and roomy, and each fitted with spring seats, covered with attractive cretonne. Cafe or fawn enameled finish. gn. This Fiber Rocker pecial —A most comfortable and durable rocker with high back and broad roll arms. Fin- ished in baronial brown. Strongly con- structed of hand-woven fiber. Suitable for house or porch, Convenient Payments if You Wish with a 60-inch $57.5.0 $12.45 Kann’s—Fourth Floor. Same style suite, a scttee. Priced at This Fiber Table to Match Suite -It is oval in shape and is in size 20x30 incl Has smooth enameled top and loom-woven fiber apron. Shelf underneath, with legs b “hoice of cafe or fawn enamel finish —Rocker, in either fawn or cafe finishes. Special at choice of Special at Chair, finishes. : Things to Embroider at 98¢ Four New Designs in Busy Hour Aprons, 2 for 98¢ These popular aprons are stamped on a fine quality cream muslin—are cut out and partly made.” Four lovely new designs from which to choose. @ Table Covers new and attractive J tape. Special, each Children’s Stamped excellent quality line sizes 4, 6 and § v each Alllinen low, rose designs. stamped on black sateen, in tterns. Finished with Q8¢ nd Ready-made Dresses, of white, yvellow and blue, in new designs. Special, Q@ white with colored borders of vel stamped in attractive Special, 2 for 98¢ All- Hand-embroidered Tan, finished with hem- Q@ Special, each Towels, and lavender: Regular] 17x50-inch linen Scarfs, stitched hems, Stamped Tea Towels, ood quality material size. Special, 6 for. . ) simple designs; and good QB¢ Kann's—Fourth Floor. Reg. $35 Open Bulge Top Wardrobe Trunks $26 made with rounded edges, are 1 with the best brassed hardware One side equipped with eight and dust curtain: the other, Metal-bound drawers A Few Floor Samples of Free Westinghouse Console Model Electric Sewing Machines To Close Out at Reduced Prices! You $30 Save The Free Westinghouse is the world's finest the Good Housckeeping Insti tiful picce of furni floor Special Monday lesirable Trunks ave overed and trimm w boits and spring locl laundry ba shoe box compartment. and is approved by ute. Besides being a fine sewing machine, t also. Tlicse we are offering at the big rc console models in most attractive finishes $1.69 Leather Boston Bags, ¢ $2 Down Good-looking Bags, made with double han- dle strap and buckle fasteners. Choice of 14 99C Kann's Gas R : GLOBE Gas Ranges and 15 inch sizes, made of brown and black Are Beautiful, Economical and Serviceable ey are a be ction are amp) split cowhide. k i Delivers a Machine to You —Pay the Balance Con- veniently. Kann's—Third Floor. Fourth Floor will be delighted with “National” Steanl Pl.essule good-looking, -You these serviceable o Ranges, and we would be glad Cookers Save Tlllle! to have you come in and let us . show you their many superior They kept clean, are compact and rigid in A Demonstration Will Prove It! The National Pressure Cookers w points. are easily 1 do W built for years in minutes what it used to take hours to construction of service. The oven burner is s 3 i do. They will cook or can any article of used for both baking and broiling, 5 5 5 " bal 1 broil food in one-third or less time than the a can bake an Hrotl a . . A ORI HELG ER Ll <ame article cooked in the ordinary same time without using $10 Allowance for Your Old Gas Range Gl Simple to operate, they come complete with aluminum equipment and a 30-page book. <toves, ranges or log fires and save time $1 Down “National.” extra gas. 1 Down Balance in Monthly Payments “The prices of Globe Ranges are quite moderate. The model illustrated is black enameled with white porcelain doors and is priced at $62.50. Other models in black and white combinations and all white with nickel trimmings are priced up to $139.50. recipe They can be used on oil Delivered on Payment of and troubic. Delivered on Payment of Come in and let us demonstrate to you the advantages of a he price is only $23.00 altogether and you can use our Club plan of con Kann's—Third Floos venient payments it you desire ird Floor Kann's—Tl 75¢ to $3.50 Pt Ave: Victor Records 8th and D In the sale of the Ansell, Bishop & Turner Stocks at 3 29¢, 39¢, 48¢ to 95¢ ow Ready — Pictorial Review and Excella Patterns And Free Shee for April "Tlu; Busy 9 Corner” ST €