Evening Star Newspaper, March 20, 1926, Page 14

11 * Y.-'l MOTORS AGAIN T INSTOCK DEALING Covering Serves to Keep List Steady and Effects Some Small Gains. P. WEST, ne Star. March BY STUAHR Spacial Duispatch to " YORK 0.—1In & very ket today price main not im- part of the re in In the lis,_there wel with small & Motor shaves, most of them, were weuk again. Hudson Motor, Delow . was off 4 points as compared with iy close and points us with the Thursday close. ling the effect of what + disappointing the greater small losses, ns. . and quite a went i’ Nash. Du Pone 1 mingled Advance Rum! Ahumada (11) Afr Reductn (1! Ajax Rubber. Allled Cm pf ( Amerada Corp; Am Agricul Ch Am Beet Sug ( Am Bosch. .. Am Can (18) Am Can (new) Am Drug. . Am & Fo P pt Am Ice (110). Am Imternatl. L Am Linsd pf Am Loco (8) Am Metals (1 Am Radiator ( as|Am Safety R ( ere was i good deal of covering which had been the spec ort-selling earlier in_ the this served .to keep pri v in a lavse part of the list ven ciu seme amail chiefly th speculat 4 Sut end cover < on the short side. et did not close generally tendency wits Blectrie at the poinis. General wearly 2 points, it was Kk ngin of end was down Motors was off Stocks ubjected 1o Bonds ea rail and lowAr. Foreign ex- French and Belgian ton barely steady; fa- : Cuban trade buying. W YORK. March maotor shar sher; Am Ship & Con AmS&R b | Am Sugar | ( D Am Sumatra Am Woolen. Am Wonl pf (1) ArmourDel pf( Armour 111 A Atchison (7) At] Birm & At. ‘Atl Gulf& W I Baldwin L (7). Balto & Ohio(5 Balto & Oh pf( BUTTER PRICE CONTlNUES-mn-& Ar (). ITS TREND DOWNWARD By the Associated Press. CHICAGO. March 20.—The condi- tion of the butter markets during the week showed but little change. The in excess of the consuming demand, with prices gradually working to lower levels. Confidence at the pres- ent price levels appeared to be al- most entirely lacking and speculative huving ot al butter was con- spicuous by its absence During the latter part of the week supplies of the bett ter on practic markets co and with s continued ing in some rath card the close. With buyers taking hutter only the most requircments a no incentive fi sharp declines to decline wppered more HIGH PROFIT RATIO, NEW YORK, March ted Mines C ver in Utah income of $1. largest ment woi cent of the an unusuail strijetion, or 44 per income of $4 h profit ratio. ident, sta of combined ores charges and WILL VOTE ON STOCK BOOST NEW YORK, ). holders of Am: chine & dry Cy will vote ) ch 26 on posal 1o v 0,000 shares of 7 rent pre and an increa comman, £100 par, to The com mon will be ex the basis of three shares « one of old Stockholders wil shares of prefer «| Pro rata at p CAPITAL STOCK INCREASED. DOVER, Del, March certificate of reas tion w Departm: 1uthori: have tiled with the Delaware it y. Under the ition the corporation 1,000 shares of preferred ar value of $100 a to cumulative divi and 3 3 mon stock without par v will tock SPALDING REPORT on stock, sha 1921 Hear Rate Evidence April 26. The Inter » Commerce (' April 26 10 1y uttal evidence from the the investigation involvin nstment of Irunk lines land carriers srder named MOTOR CARS ON RAILS. Zpecial Dispatch to T in the ¢ Star March E Franklin ln‘,.'umln‘., next Monday. ips cach wa i e new motor-driven c: capacity of 60 Bisenie RUBBER LOSES GAIN Special Dispatch to The Star. NEW YORK, March 20.—Crude rubber lost all the Friday gain today, heing quoted a pound. cents last will have a month and 41% W silver, 66: BO\’I‘O \1‘0( K \l \I{h T. BOSTON, March Following i: It of todaP's highest, lowest and clos ing prices for the most active stocks dealt in here: Hth Am Tel & Tel 145 Amoskear. i Arizona_Com * talu & Hecla. 175 61 Tiitea Shoe U Shoe N oid; ). —park | JRarnsdall A (2 Beech-Nut (13 Bethlehem Ste: Beth St pf (7) Booth Fisherie Briggs Mfg (2 Ek!n Edison (8 Plkin-Mn Tr (4 Bk-Man T pf (6 Brown Shoe (2 wick Ball Bur Add Ma (3 l utte Cop (3¢ Rutterick Byer & Co Calif Pk (18) 1T Petrol ( ahan Zine n Pacific (10 Case Threshi Cent Le: Cent Le Cent erre rle l‘{() ‘ertain-Teed ( { Chand-Cleve Chand-Clev p! Ches & Oh (+ | Ches&0 pf (6 Chi & Alton. {Chi & Alton nt ChiGr Abitibl Pow (4., Allied Chem (4). Am Hide & Lea. . Am Hide & L pf. Am Sm & Ref( Am Tel&Tel (9). Am Tobaceo (8) . Am Tobac I (5) Brunswick Ter. . Burns Bro (10).. Close. 76 12% 12% 8 8 113% 118% 107 11% "1‘\ 119% 12 118% 118% 25 25 244 Open. Hizh. Loy 76 4 ley 12% 8 114% 107 119% 1 . 118% .. hm 5). 25 24% Am Agri Ch pf Am Bank N 1.60. 1. Am Br Boverl. .. Am Car&Fdy (6) Am Chicle ctfs Am Express (6). 121% Am & For Pow. . 23% (1) 92 1 60 Am Linseed. .. 3). m. 7). 122% . 114 *|Ludlum ¢2)..... 4 144% 114% 112% 62t AtiEeonda (3). .. Armour 111 (B).. Arnold Con (n). . A Atl Coast L (19). Atlantic Refing. . Austin-Nichols. . 10614 SR 6874 . 106% ). 4) ) Yoo Belding Bros(3). el. )es ). 137% 60 &1 9% 25 12% 130% yeo k. Yo Bush Terminal. . Butte&Super(2). ) D 1) Gr West pf. . IMIl&StP. . e i I Chile Cop “hilds (12.40). le S “om Inv ( ‘om Solv B Consol Te\(lle Cont Can (16). Cont Mot (80c) Corn Prod (2) . Cuba Cane Su Cuba Can, Cuba Co ( Cuban Am S (2 Cuban Domin. Cushman's (8) Del & Hud (9) . Del L & Wn (i Detroit d (8) »odze Bros C { Dodge pf (7) Dome Mines (2 s Pec (1 Dupont (10 I Dupont deb (6) . ‘amous pf (8) FedLight*1.4 .| wed Min pf (T) Frst Nat S(1% Irisher Body (& iisk Rubber. . 1eisk pt stpd (7 Ireeport-Texa; Gen Asphalt Gen Asph pf (Gen Cigar (n) . GenGas A (1 Gen Mot (112) Gen Petrm (3) GenRySig (1% " | Gimbel Bros Glidden (2) . Gold Dust. Granby Consol. Houston Oil. Howe Sound (J Hudson Man 2 Hupp Mot (1) Tiiinois Cen (7 Indep Oil (1). Indian Refining Tnland St (2% ] cl Chrysler pfA(8). .,l‘m:;l(:nlah) - 18 Gen Iiectric (8) . Gen Blec sp(60c) Hudson Mot (3). 215). stie Brown. . Crucibie Stl (5). . AL ). ). ) ). o i Fleischman(2) .. Foundation (8).. Fox Film A (4).. Gabriel Sn(13%) Gen Am Tnk (3). 5). 1091 53% 316% Gen Mot pf (7). ). Goodrich Ru (4). Goodyear pf (7 D Gothm S H(214) . Grt North pf (5). .| Gt Nor Ore (1%). Grt Wstn Su (8). Gulf Mo & Nor.... Guif States S (5) Hartman (2%4) .. Hayes W (13% 26% 967 | ). 3). 215 36 22 116 25% 11 30 6% 21% 116 115% 115% 24% 24% 25 10% 11 39 39 ). 10% ).. 39 1341 » | ltey Tobuc B (4). 2| Std Plate Glass. . THE EVENING NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office Low. Close. 234 23% 884 83% 16'% Open. High. Inspiration (2).. 23 3% Interurb Rap Tr. Intcontal Rubber Int Bus Mach(3), | Int Cement (4).. | In Cement pt( | Tnt Com Eng (2). | Int Harves ) | Inter Har pf (7). IntMtch pf(3.20) . Int Mer Mar pf.. Int Nickel (2)... Int Paper. IIntl Paper y Int Tel & Tel (6). Jewel Tea. Jordon Mot (3).. Ian City South. . Kresze Dept S Kennecott (4) . e SS(1.20). Lehigh Val(3%). Leh&Rink etf(3). Ligeett & M (14) is & My B (+4). Lima Loco (1) Louls & 42% 87 McCrory (15.60). A 89 ‘Crory’ n(x 60) 9516 ma Cop (3).. allison & Co. .. an Bl Sup(41 wn Shirt (1 nila Elec icaibo Ol eson (4). .. May De Missour! Pac pf. Montana Pow (5) Montzom Wi » Picture(112). Motor Met 3 Motor Whi (2 Kot Loead (8).... Vit PWRLL(0e) . th | Owens Bot (14). | Pacific Gas (8) .. | Pac Gas & ¥ | Pac O11 (3) : I'!(kunl Mot (2). ige Mot(1.80). n-Am B (6). patho | Penick Pere Mara (18) .. far pf (3).. 4 Co () ... Phila& RE&T.. Philip Morris Phillips Pet (_1) Phoenix Hosiery Pierce-Arrow . Pierce-Arrow pe. Pi Oil. Pierce Petro! Pitts Coal. Pitts Term Ce PitU pf et ntl PHIUE PF(11.20). Pitts & West Va | Postum (4.40).. Press Steel Car. . ed Steel (n) Prod & Refiners. . Pub Ser NJ (5). | Pub Ser rts . Pullman Co (8).. Punta Aleg Sug. al. t 1 Pure 011 (12).... | Radto Corpof A. Radio C pf (316). Rwy St1Spr (4). Ray Cons Cop. | Iieading (4). \ Remington Type. 104% Replogle Steel 1% Rep Iron & Steel. bd% Rep1&Spf (7). 931 Reynolds Spngs. 6% 92% stpf. | I oht Reis & C Rova: Du(a1.33). L(13). 52% 41% 344 193% 6% abd Air L pf. . -Roehk (6). i Simms Pet (1) | Sinclair Of1. uth Port § (6). outh Pac (6). .. Southern Ry (7). Th Sterling 'ro (4). 78 S | Studebaker (5) .. Submarine Boat. 55% 2% I 9 18% 13 50% 130% 14% 48% 525 3% -). "lmm( opper (1). (10). Tex & PacC& O Tex & Pacific *Tex Pac Ld Third Avenue. .. 48 4815 525 525 625 38% 871 87 A STAR, WASHINGTON, ONDS IRREGULAR | o= o BONDS o s INTODAY'S TRADING Convertible Oil Issues Go Up Sharply—Chicago Railway 5s Decline. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, March 20.—Further sharp declines in Chicago Railways 58 and Chicago City and Connecting Rail- v 58, together with sharp advances ih convertible oil issues, were the fea- tures of the trading In bonds today. The hreak In the Chicago Railways bs carried the price to a pew 1926 low, selling being a contlnuation of that which came into the market on Fri- day and founded upon doubts as to the ability to refund the issue at ma- turity next February under existing political conditions. The rise in the oil issues was most conspicuous in Sinclair 6s and Skelly 614, the latter 120 being up 3% points. These oil bonds were, of course, going up with their respective stock: Outside these two speculative move- ments, there was no important change in the character of the trading. The strictly high-grade investment issues were nearly all steady. There was an especlally good demand for Baltimore and Ohlo Southwestern 5s and the Northern acific underlying bonds. Pennsylvan general 41 Lehigh 40t | Valley 4s and Buffalo, Rochester and Pittshurgh 41:s were a shade lower. “The Liberties all sold around the high of the week, and the second 415 du plicated the high of the vear. ment continued optimis future of the investment market be- vause of the ease in money. 1. SATURDAY, D MARCH 20, 1926. Recelved Private Wire Disect to The Star Office RAILROAD. Sales. High. Low. Close. UNITED STATEB. | Atchison gen 4s. Lib3%s... 61013 1013 Lib1st4%s 23 1028 1026 102 Lib2a4%s. 164 10030 100 28 100 28 Lib3d 4%s. 194 1016 1013 1018 Lib 4th 41,8 180 102 16 102 15 102 16 US3%s.... 361 100 16 100 15 100 16 US4%s52. 13 10726 10726 10726 FOREIGN. Sales. High. Low. Close. Argentine 63 Ju 59, 22 98% 98 Argentine 6s Oct 59 14 Argentine 6s A 11 Argentine 6s B Argentine 7s..... Australlan bs. ... Austria 7s. .. Bank of Chile 6%s. Bank of Japan 6s... Relgium 6s. . Belgium 6%3 Belgium 7s. .. Belglum 7%s. Belgium 8s..... Bolivia 8s. Bordeaux 6; Brazil 7s. Brazil8s....... Canada 58 1931 Cunada 5s 1 Canada 5%s 1929, Chile 75 1943 Chile 851941 Christiania 6 Con Pow Japan 7s Copenhagen 5%s. Cuba 5%s. ... Czecho Ti4s rots Czecho 85 1951 Czecho 85 1952 ct. Denmark 6s. =G 7 St 6862 El Salvador 8s 48. Finland s f 65 4 Finland 7s. Framerican 7 French 7s. French7%s. French 8s German i SNAgKEHA ann -|German 78 operating in the South. Seaboard Air Lines 6s dropped elow 92 to a new low for the ¥ Seaboard All-Florida_ 6s dipped below 94, Most of the Trie junior liens w lower and there were heavy offerings of Denver and Rlo Grande Western which, how- ever, were well absorbed. Foreign issues, particularly European, sagged. but not pronounc F'rench were off hand, 1 the were On the othe diss 51,8 were higher. The Paulo issue to be offered cpected to be priced at 9 7.30 per cent. The amount will 500,000 and the bonds will run until 1 The hal- ance of the lot will he issued simul- taneously in London Yo BALTIMORE PRODUCE. BALTIMORE, March 20 (Special).— , 100 pound: 5 6.00a8.00; , ham i Sao Paulo 1850. eggplants, crate, 3.00 Kale, barrel,” 1.50: lettuce, 100 pounds. Ger Agr Bank 7s Ger Gen Elec 7s. Greek 7 Halti 6s. Holland Al Italy 7s. .. Japanese 61 . Jergens U M 6s 47 Lyon 6s Marsellle 6s. . Montevidio 7: . Mexico 5s assented. Netherlands 6s 54.. Netherlands 6s 72 Nord 6%;s. Norway 5%s “Orleans Ts Peru 714s. Perus$s.... Poland 8s. Porto Alegre § Prague 7 Queenslan Rio de Jan 85 1946 .. to de Jan 8s 47 Rio Gr Do Sul 8s 98 98 110% 110% 101 101 100%* 100% 102 104 98 6 110% 101 100% 102 104 Q5% axon (P W) 7 874 b Sefne 75 42. ... Serbs Crot Slo-8: ‘| Ta Kinzm 5} BUTTER DECLINES CHICAGO. Mar 0 (). Butte 10,877 tubs: creamer standards, 401.: extra firsts, 3 BANK STATEmT. NEW YORK, March 20 (#). The actual condition of clearing house banks and trust companies for the week shows CXCess resery of $11.134.- 680. decrease in reserve compared with last when excess reserve totaled 680, week, sateh to The YORK, March 20.—Dullness in the market for cotton cloths led to a reaction to 77 cents for 64x60's print cloths and 914 cents for A8x72's. Raw silk was quiet and unchanged both here and in Yokohama. 304 34 96% he Fair (2.40) . T|de Water(1%)- Tide W O11 pf(5). Timken (14).... Tobac Prod (7).. Tob Prod A (7).. Transcont Oil. .. Underwood (4)... Un Bag & Paper. Un Carbide (5).. Unoil (2).. Un Pacific (10).. Un Pacific pf(4) . Un Tank Car(5). Utd Clgar(*3%) United Drug (8). UtdDrg 1st(3%) Utd Fruit (112). U SC1P&F(10) U S Distributing. S Hoffman (3). S Tnd Alcohol. . S Realty (4).. S Rubber. .. U S Rub 1st (8). U S Steel (17)... U S Steel pf (7). U S Tobacco (3). Uni Plc 1st pf(8) Universal Pipe. . Ut P&LA (2). 30% 344 9614 50% 105% 7 | Wright Aero (1) Van Raalte. . . va-Car Ch(m)w 1. va-Car Ch 6%Dpf. Va-Car Ch 7%Df. Varon Coal &C. Vivaudou. .. ber ( W Penn ELA (7). West Maryland. West Md 2d pf west Pacific. . West Union i8).. WesthseAB(17) Westinghse (4) Weston Elec. ... Wheel & L Erle. eel & L E pf. White Eagle (2) ‘White Mot (4) . White Mot (rts) . White Rock (2) - Wickwire ctfs. . % | Witlys-Overland. {1lys-0a pf(7). Wilson Co ctfs woolworth (5).. ‘Worthn Pump. 4% 167% 27% 29% yale&Town(i5). 631 el T &C (75¢). 2q Youngstown (4). 756% Dividend rates as given in the above the annual cash payments based on the are uarterly or half yearly declaration: 13tens Diherwice noted. eira Or special divi: RSB (i Yeus. i lar_rate, A Paid F."Wo regular raf il i shock Sarlly” siol in pi [ qurus Hock Dayable o suarienis: 4Bl 4% auarteriy. stock vayable 1% % Am Agri Chem T%S Utd Kingm 5 Uruguay 8s Zurich 8= 107%: MISCELLANEOUS 104% 10443 2 100% 1003 98 98 100% 100% 104% 104% Am Chain 6s. .. Am Repub deb 6s. .. AmSmlt& R1st5 Am Sugar ref 6s. . AmT& Teltr4s. . AmT& Teltris. . AmT&TsT AmT&Tdeb Am Water Wks { Anaconda 1st 6s | Anaconda cv d! Andes Cop 7s rets Armour&Co 4138 rf. Armour Del 51:s. Assoclated ()n 85, Barnsdall 6s ctf: Bell Tel Pa5s B... Bell Tel Pa b C.. 99% Beth Steel o1 Bethlehem Steel s 7 Brier I St 1s Bklyn Ed ge 1034 103% 130 128 104% 104% 004 100 106% 106% 100% 100t 104 1034 83% 834 105% 106% 94% 94% 991 99 108% 108% Cen Leath 6s 45 cfs. Chile Copper 6: Col Gas & El 5 Commonwlith Con Coal Md 1st 5 Con Gas N Y Cuba Cane cv Cuba Cane cv 88 Cuban Am Sug 8s Denver Gas bs. . Dery (DG) 7s Det Edison 5s 40 Dodge w 1 68. Duq L & P5%s 49. Duquesne Light 6s. Empire G & F 7%s. Fisk Rubber 8s. Goodrich 6%s Goodyear 8s 1931. .. Goodyear 55 1941. .. Hershey 5%48. Hoe & Co 6%3 Humble O & R 513s. Tilinois Bell 1st 6s. . Int Mer Marine 6s. . Int Paper 58 47..... Int Paper 6s. . Int T &T5%s Kan CP&L 55 A 62.. Kan G & E1 65 52. Lackawa S 5s 50. Lacl G ref 5s 34 Louisv G & E 58 562. Manati Sug sf 7%s. Mid-Con 6%s 40.... Midvale Steel 5s... Montana Pow 58, New Eng Tel 5s N Y Edlison bs 44. NYGELH&P 4s.. NYGELH&P5s.. NY Tel 4%s.. . N Y Tel 63 41. N Y Tel 65 49. North Am Ed 6s.... North Am Ed 6%s.. Nor States Pow 6s. . Nor States Pow 6s.. Otis Steel 7%s. Otis Steel 8s..... Pac Gas & El 58 PacT & T 1st 55. Pac T & T 6852, Pan-Amer Petg 6s. . Pan-Amer Pete 75 0 louVL lflb% 106% 106 103% 103% 116% 116% 105% 105 110% 110% Broacmonand aaSravns 10244 1024 102% 102% © 110% 110% 101% 101% 104 104 985 931y 101% 101% 99% 99 101% 101% 103% 103 9% 9% 101% 101% 102% 102% 102% 102% 90% 904 104 104 98% 98% 108% 1084% 110% 110% 103% 108 106% 106% 99% 99% 105% 105% 103% 103% 108% 1084 99y 99 101% 101% 100% 100% 106% 106% 105% 105% 100 100 100 100 100% 100% 104% 104% 101% 101% 106% 105% 106% 106% 8 86 B O ARERANAEREEIRE KNGO ONA RSN e DL D - BaNeD PhilaCo5%s 3 Phila&RAC& I Es. Public Service bs. . . Public Service 6s. .. P Serv Gas 5128 69.. Punta Alegre 7s. . Remingtn Arms 6s. Saks & Co sf 7s. Sinolatr Of1 68 110 110 109% 109 - ] 27% | Utah Pow & Lit bs 6% | Vertientes Sug 78 ble | West Elec 5s. . Sinclalr Oll 6% Sinclair O117s. . Sin Crude Ol 63 Sin Pipe Line 5s. Skelly Of] 6%8 South Bell Tel 68. So Por Rico Sug 7s. Southwest Bell 58 Tenn Elec Pow 63 United Drug 6s. U S Rub1stTL6S. .. U S Steel s 5s. 102% 102% 102% 103ts Sozss 1oom 105!»-105&_‘*5a 105“) 105% 106% 93% 93% 93‘& 6 106 105% 106 106% 105% 106% estinghouse 7s. Westn U 1124 112K 112% Westn Unfon 6%s. Willys Ov 6%s 33. Wilson & Co 1st 6 Winchester A 7% 1 Youngstn S & T 6s. 12 102% 102% lm l’ccm. 96% 96% 96% | Har AtlanticC L 7s.. B&O Sw Div bs cfa. 113 B & O Toledo 4s. ... Bklyn Manhat 6s. .. Buff R & Pitt 4%s. . Can Nat 4%s 30. Canad Pac deb 4s. Central Pacific 4s. . Cent Pac 1st 63 90. . Ches & O cv 4%s (‘h!&Al!l%!c(l! ChiB&Q1strf5s. Chi& EIgnbés.. Chi Great West 4s. CM& Puget Sd 4s CM&StP4s25... CM&StPgn4s8y. CM&StPcv4ls. CM&SPevd 4832cfs CM&StPgn4ays, CM&StPreats.. CM&StPratssce 14 CM&StPcvbs. .. CM&SP cv b8 cfs 14 CM&StpP Chl& NW Chi& N W 7s Chi Rysbs. . ChiRI&Prf4s Chi Un Sta 4%s. Chi Unlon Sta bs Chi Unfon Sta Gs 44, Chi & W Ind cn 4s. . CCC&StLrf6sA. C&SIst4s29.. Del & Hud 5%s. Den & Rlo G cn 4s. D& Rio G imp 58 D Rio G West 68, Det United 414 Erie 1st cons 4s. FErie gen 4s Erle conv 4s A Erle conv 4s B Erie conv 4s D FlaECbs 74 . Gr Trunk sf db 6s. Grand Trunk 7s. Great North [14s Gr North gen 7s. Hud & Man ref 5s. Hud & Man aj 68 m-C-C StL&NO Int Rap Tran bs. ... Int Rap Tr 6s stpd. Int Rap Tran 6s. Kansas City § Kansas City § 5s. Kan City Term 4 Lake Shore 45 28 Lake Shore 45 31. Lehigh Val cn 4s. Louis & N unf 4s Louis & N 5s B. Louis & Nash 7s. Man Ry Ist 80 Market St 75 40 Mil EI Ry & L 5s. M St P & SSM cn 4s MK&T4sB. MK & T adj 5s. MK&Tprinis A Mo Pacific gen 1 Mo Pac 55 1965. Mo Pac 6s 49 D. Mo Pac 65 56 E. Mont Trm ref is Nassau F; Ry OTex& MG B 57. N YRys6s65. NY W & Bos 4’&: Norfolk & W cn 4s. Northern Pac 4s. .. OreShort L cn 55 46 Ore Wash 1st rf 4s. Pennsyl gen 414s. Pennsyl gen 5s. Pennsy! i< 64. Pennsyl 618 Reading gen 41s. Rio G West ¢l 4s. RIATk& L 41;4. . St L IM&S 4s 29 StL&SFplasA.. StL&SFi¥%sD. StL & S Fad 6s. StL&SF fnc6s. Seaboard A L 4s Seab A L ref Seab A L con 6 % Seab All Fla 6s. Sou Pac 4s29.... Sou Paciflc clt 4s. Southern Ry gen Sou Ry con 5s 94. Sou Ry 6s 56 Southern Ry 6%s 3 | Texas & Paclfic 1st. Third Ave ref 4s. Third Ave adj bs. Union Pac 1st 4s. Union Pac 1strf 4s. Union Pac 4s 27 Union Pac cv 6s West Maryland 4s ‘Western Paclfic 5s. 'ws Dec. 15. 1926. . June ‘15, 1926 Bl4s June 15, 1936 18 Sept. 165, 1026.. %s March 15. 1 1as Dec. 15. 1927 of Amer. ubi Wentorn“Cnton. §1%s Westinghouse E.& Am B By part.. 1) Am:{\un )lul.. i Do. a% cn’»’o i o Cin Slm}' I Lpi llru Ll-m. Co.. Bo: 82 B e B 103% 102 102% | N Northern Pacr16s. Por RL&P T1:s 46. . lLCflll"fl 7 90% 90% 5 105% 106% 85% 9648 2% 102% 102% 102% 4 106 106 99% 99 6% 6% bl 93% 83% 99 82% 90 29 98% 145% b5% 53%, 104% 6% 26 13 1 5 104' 100% 67% 67 0% 105 W T2% 754 9544 0874 96% 83% 941y 106 105% T Bl E-ahelaanu—oslics . IOOVD 100% 1054 8 1054 96% 1047 100 1124 90%% 106% 96 95% | 1027% 102% 106 99 76% 94 89 99 82% 90 99 8% 145% bL% 53% 1044 76 108'% 98% 1041 87% 9814 8 100% 687% 67 70% 105 2% T5% 855 & 9874 967 83% 9414 106% 105% 6315 9% 93% 894 | 81% 18y 99 6714 93% 9Ty . v\lallghlél 1027 100t 1004% 1034% 984 6959 28 721 0% I FINANCI [LINOTYPE SHARES | GRAIN PRICE BREAKS ON WEATHER REPORTS Favorable Domestic Wheat Crop Conditions Gives Values Fresh Setback. By the Associated Press. * CHICAGO, March 20— With reports telling of exceptionally fuvorable do- mest] wheat erop conditions, grain values suffered fresh breaks today. despite a show of new strength at the start. Initial firmness was due largely to the fact that Liverpool quotations had failed to reflect fully the downturns in price vesterday on this_side of the Atlantic. Offerings here, however, at once sadened out on today's opening ad- vance, and with heavy selling to stop losses on the way down the market dropped to about cents below terday’s finish. Chicago opened un- changed to 7 cents higher, May (new) 1.60% to 1.60% and July 1.39%, and W ’ulln“el] by a fall to 1 for May and then by rapid fluctuations, in which much of the loss was over- com Corn gave wa, with wheat and blished a ne low price record for the season. “urther llquld.mlln[: on the purt of holders, together with other selling, carrie ay down to point S I:\l\l\Pl under this '« best figures. Buying to col lect profits for speculative sellers led then to wu rally. After opening at 1x off to 'y up, May T3% to 3%, soon weakened, It later ve- covered. Oats held within opening unchanged to 14 3! 1 later keeping nes oW limits, up, arer to thP with averaged lower NEW FREIGHT SERVICE. Ships to Ply Between Baltimore and Southern Ports Weekly. Special bispateh to The Star BALTIMOR —A new freight stean e between Baltimore and southern ports will.be started on March 27, when the Palat- ka. of the Pa whip Corporat Brunswick, with @ general cargo: On April 3 the Brunswick will sail from Baltimore and the Palatka will begin its return journey. Sailings thereafter will he weekly from Locust Point. Northern Steam- sails from here for and Palatka, Fla., n, . Davidson is president i W. J. O'Toole is Middle- of the general Rodney is traffic man: —e: 30, March 20 (United States I'm-:n'lml-m Agriculture)—Hogs 1000 mostly a pound butehers ¥ 200 to 16 desirable 180 -nu.;.;h | holdover, 1.000 medium weight, <ht weight, 12.40413.83; 1 14.00; packin 1 took heavyweigh 11 | Cattle—Rec off on better grades; s . about i price sy range of all killing cla: close together: top weighty steer e 87 110% 110% | wa 1054 | 24! 954 1045 100 12% | 107% 1071, | est since January. reme top | matured steers, 1 i ings up- d to 10.90; 1o offers above 10.50 at | close: lower in-betwee: better grades of lizht heifers are get- | ting_full upturn; bologna bulls weak 10 15 lower. Sheep - 103% 103 | week around 100% 100% | from 108 St L IM&S R&G 4s. StL&SFprinps.. Sou Pacific ref ¢s. .. 103% 59% 57 98y, 87% 994 103 100% s 102% 100% 3 684 68'% 5 97T% 9T% TREASUBY CEBTIFICATES (Quotations furnished by Redmond & Co.) lose. . 100116 B 15- ESE = PO IS ¥ od. Rate. P, Rate. Payable. E‘n’ GRS e et 55358 g S33kn S i eazaca > 2323% 33% [ 2! 3334 108%¢ 103% 594 57l 93% 88l 99% 103 101 102% 100% 68% 97y SHORT-TERM SECURITIES. (Quotations furnished by Redmond & Co.) Close. pResms trac B oo oo s o 5o 2528 feed nearby i practically m strong to to 50 up; in-b ped lambs wethers, aged lambs little ¢ Fat lambs, 14 yearling wether 10.00; fat ewes, More Rough Dlnmonds Come. In the past the United States im- ported largely polished diamonds, but in the last few years the number of rough diamonds brought in has been considerably increased. the 1925 im- ports being more than double those in 1924. This indicates an expanding in- dustry in the United States among the diamond polishers. and _shearing Top for feeding lambs, . 11.50; aged wethers. 002900, EVERYMAN’S INVESTMEN BY GEORGE T. HUGHES. Preferred Stocks. So far we have discussed stocks without distinguishing between pre- ferred and common issues. The pre- ferred stock is a hybrid between a stock and a bond. It has some of the characteristies of both. On this ac- count it is Held in low esteem by many authorities on investments. Like common stocks, it represents partnership in the business, but, like a bond, the rate of return is a fixed one. Provisions governing stocks vary widely, but in general the preferred stockholder must re- ceive his dividend at the agreed upon rate before the holder of the common receives anything at all. The pre- ferred rate may be 4 or 5, or anything up to 8 per cent. In return for ac- cepting this secondary place the com- mon stockholder is entitled to all the profits that are left after the pre- ferred dividends are paid. This is the usual rule, but there are some excep- tions, as when the preferred stock- holders are allowed to participate in additional earnings with the common after the latter has received a certain amount. The ordinary preferred stock, however, is not of this kind. Preferred stocks may be cumulative or non-cumulative. A cumulative stock is one on which, if the dividend 18 not earned and paid in one year, the amounts due accumulate and must be all liquidated before the common re- celves any return. This becomes im- portant when in one or more of poor business no dividends are earned or paid on any class of stock. The holder of a cumulative preferred issue may always hope that his losses one year will be made up subsequent- ly; the owner of a non-cumulative pre- ferred stock can have no such ex- pectation. Some preferred stocks may be re- tired at the option of the corporation at a fixed price; for others no provi- sion is made for redemption. If the preferred issue is a high-grade invest- ment it Is an advantage to have it non-redeemable becguse there s no artificial limit to an adavnce in its market price. This may be illustrated by comparing United States Steel preferred with Standard Oil of New Jersey preferred, of approximately equal investment rating. Steel pre- ferred is non-callable, and so sells much higher than Standard Oil of New Jersey preferred, paying the same dividend, which may be re deemed at 115. preferred i nine-tenths of AL. GAIN FULL POINT Mergenthaler Issue Active on Local Exchange—Trad- ing Brisk. BY EDWARD C. STONE. Mergenthaler Linotype was the fea ture of trading on the Washington Stock Exchange todiy, the stock climbing 4 full point over the last sale recorded on Thursday. One hundred and thirty share hanged hands on eight different transactions. The stock opened at 2087, an advance of an eighth over Thursday's close. Ninety shares were then sold in three sepa rate deals at 209. The next sale was a re lot at 20914, Ten shares after me out at 209%. and the stock Monotype also out to ning at 84 and closing at 8415 0 shares of and Storage pre ferred at 101. only other. stock transactions were in Potomac Elec Power preferred, which opened at 107 dropped to 10675 and closed at 106% In the bond division one iial Tr: Potomae Electri at 100, while W wound up the Other by wards, shington ¢ sk at 103 John L. Ed way from the e: change todav. Richard E. Claugh the vice president, was also 1 to be present jon K. Parr of the founders. or Crane, Parrle Co.. was paid the honor of bei asked to preside and took the s on the rostrum New Bank Stock Is connection with the of the pt & Allotted. increase i District Nationa pres notices have heen sent to subscriber art of the stock which was sol to non-stockholders was doubly over 1 Mr. Harper stated. tock will be delivered and after April 1. This bank and " undivided $900,000. Banker Explains Use of Checks. In an address over the radio las evening AN G. Addison, pres dent of the District Bankers' Associu tlon, pictured the splendid service b banks in furnishing money and credit for commerce and indu: which fe absolutely essential to life and trade of the Nation. His subject wa~ “What We Tse for Money,” and his address was the third ina series give: ¢ the local chapter of the Ameri Institute of Banking in_its specis educational campaign. Mr. Addisor tressed the great value in using checks in the place of zold or sllve: coins or bills in case they have to be sent through the mails. He said. it art “Ninetyfive per cent. or more th all the business nal bills of the Nation, are pai checks. Two great reasons this are safety and convenience. book of blank checks means nothi 10 a thief. You can write a check for the exact amount of vour bill drop it in the mail and that there is to 1t. Suppose stuff your pock the > [ down “town in per: and individual you owed and square up with the cash. Or suppose you had to ship th ual (a=h 1o some firm on the ific Coast. 30,000 Handled in Day. to think ho ve 1o d e hanks 0,000 “Did you ever stop much work bank_cie in handling vour checks? S handle as high as 40000 or check Suppose an’ in Hollywood, Calif., receives w. cheek from a man in_Albany drawn on an Albany bank. The man deposits the in Hollyw 2 sends ft 3 3 New York: nk sends it to Alban where the lank there charges it to the account of the man who wrote it The check gone twice across the before the transaction i just what happens ses all the time. s also an instrument of credit. The department store takes vour check because it knows you bank will pay it. provided you have sufficient funds on vour account. A manufacturer sell big order of shoes to a retailer. While awaitine pay he can borrow money from the banks so he can go on making shoes Foreign trade is conducted throus! letters of credit. which are handle! through the bani “In the very nature of his busines< the banker keeps in very close toucl with trade. He has an insight into general business that would be (iff cult to_obtain outside of the profes sion. That is why the banker's ad vice Is ed on practically every im portant transaction. The bank is the world’s central exchange office ani furnishes the financial machinery b which business is carried on ail over the civilized world. No wonder pec ple are keeping in closer touch witl their bankers than they ever have the past * First Dividend Declared. The first dividend on Merchants Transfer & Storage Co. 7 per cent cumulative preferred stock de clared by the board vesterday. pa: able April 1 to shareholders of record at close of business March 22, ac cording to announcement by John L Newbold. president of the company ‘The books will be closed from March through the 31st. The dividend covers the two-menth period from February 1, the date the Stock was issued, te April 1. The other regular quarterly dividends of $1.75 will be paid in July, October and January. Banker Observes Birthday. Christian J. Gockeler, vice president of. the District National Bank, gave an informal dinner to a number of friends at the National Press Club last eve ning on the occasion of his fiftieth birthday. He received many felicitations from other bankers during the day, and from officers and members of the Washington Stock kExchange. M: Gockeler is one of the most active members of the exchange, and has n host of friends throughout the local financial district who wish him more years of happiness and pros perity and then some. Freight Traffic Gaining. The car service division of the American Railway Association in report submitted today estimated that loading of revenue freight for the first four months in 1926 would total 16,555,576 cars. According to this estimate, which s for the first 1S weeks in 1926 (from January 1 to May 1), loading of rev- enue freight for that period would exceed by 86,968 cars or .53 per cent the ‘total for the corresponding perfod in 1925 and by 555,781 cars or 3.4 per cent the total for the corresponding period in 1924. Pennsy Stock Popular. Employes of the Pennsylvania Rail road continue to be liberal buyers of the road's stock, notwithstanding the advance over last year's average prices. ht 613 shares 52 in January. making a total of 1,665 so far this year. On the first of this month total hou 1ngs had reached 90.550 shares, | an aggregate par value of $4,527' \