Evening Star Newspaper, June 5, 1926, Page 14

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FINANCIA BANKS T0 START EDUCATION DRIVE ‘Great Service to Public to Be Stressed—Unlisted Stock Prices—Other Notes. 14 ¥ FINANCIAL. DEALINGS ARE DULL IN STOCK MARKET Prices, as a Rule, Go Lower. | Railway Shares Are Ir- regular Today. BY STUART P. W Special Dispatch to The Star, NEW YORK. June Che stock market, after the various attempts made earlier in the week to enlist in terest on the buying side, lapsed into dullness again today. Prices as : rule went lower. There were some | ceptions, but on a whole the rep- | resentative stoc! tors, Hudson States Steel were offcre @hough to readily supply wl new bids the -‘ {Tn the specialties, which had been vious days, a good d it-taking went on. Allied Chem- and so did | A Fmous Play in higher, THE EVENING STAR, WASHINGTON, D. C, SATURDAY, JUNE §,- 1926. NEW YORK STOCK EXCHANGE | [RAI. ISSUES LEAD | oo some BONDS o mr] | v i Received by Private Wire Direct to The Star Office | Eaeivei By Prios s Wi DR (- T S Gt [N BOND TRADING Demand Unusually Brisk for; Saturday—Erie Securities Hold Gains. Bankers Low. Close. 48Y < 48% 84% 4% 9% 49% 113% 113% 107% 107% 2% 12% 90% 91'% 9ty 94% G | 112% 118% “ g | 86% 86% 4 104% 104% % 103% 103% 98% 98% 93% 93% 108% 108% 96% 95% 106 103 2G% * 805 99% 994 66% "66% 92% 80 0% 5 75 81% 100% 100 108 101% 107% 1%% 19% 7% 814 103% 102% 4% 13% 6% 96 105% % 58% 88 “98% Sales. High. 3 48% 1 844 3 UNITED STATES. {Sales are in $1.000.) | emaspeve e s32cfs Sales. High. Low Close. CM&StPgndlks. Lib3%s.... 2 10026 10026 10026 |CM&StPevbs... Lib 1st43%s 2 1022 10219 10219 | Chi & NW 63%5. Lib2d 4%s. 63 100 28 100 26 100 28 ' | Cht & NW 7s. Lib3d4%s. 241018 1017 1018 | ChiRys5s... Lib4th4%s 21 1034 1033 1033 |ChIRI&Prf4 US4s1944. 111047 1047 1047 37| Chi Un Sta 4%s. .. Chi Union Sta 614s. FOREIGN Chi & W Ind cn 4s. ales. High. T Argentine 6s Ju 59. 79 9Kl: C&WI5Ys 62 Argentine 65 0ct 55 8 98t gaie oww | CCC&SLLrfeaA] Argentine 6s A. 9 96% 98k 98% | & Slstds2s. Argentine 6s B 40 98y 98% 98% ) CUPaRREe. § 114% 11216 114% | Special Dispateh to The Star. .| Australian 3. 26 98% 98% 96 |Cuba RR7is. t " Austria 7s. . ¥ 101% 101% [Cuba NR 6s66. . 117% 117% 117% | NEW YORK, June 5.—Demand for | L e 101% 1014 101 28% 80 | bonds was unusually brisk for a Sat- | Bank of Chil e6%n. 8 91% 9% 97| Del& Hud5%s. ... 5% | in today’s trading. Railway is- | Bank of Japan 6 1005 100%s 100% | Den & Rio G cn 4s.. 58% | ment and speculative, were | Belgium 6s. . 84 D & Rio G Imp 5s | Belgium 6345, 91 D Rio G West 53. 20t | AIl the New Haven obligations sold | Belstum 75 94 Det United 41 . Relgium 71%s 109 214 | around their recent highs and some of 12% | them made substantial gains. Cen-| Pollvia 8s. 101 31% | tral New England’s 4s ran up rapid- | Prazil 7s. Uty 1% | 1y, crossing 74 on a high record. The | Brazil$ 104'% 114 | low coupon rate debentures, now se- | canada 5s 1931. 102% 34 !cured under the general g { Canada 5s 1952 105% were fractionally higher. and NCW | canada 51451929, 13 102t M 1% i Haven collateral 6s of 1940, at 100, ! cnije 74 1943 D1 101 57% 3Tw cqualed their best previous price in | chile 831941, 100 34% 334 | two years. Chinese Gov Ry 55 837 82 | Erie bonds wer Con Pow Japan s 78 18 {on Friday, but pric Copenhagen 5%s. . 66% 6t tained und the prior lien 45} coacio 735s rots. .. 24 21k above 80, were at a new top. More | o ety g 2RES 612 615 6L interest was taken in the strictly in- 284~ 23 | vestment v ay bonds. Southern { Danish Munic 8s A. 40% 39% Railway 614s, at 118, were at a new | Dutch East I 6s 47. itain | high, and there was activity in Cana- | Dutch East 165 62. 651 54% B4w |dian Pacific 4s, Florida East Coast 58 | Finland 7s. ; Framerfcan 7%5. French 7s. 895, 881 Albany and Sus- 42% 42 {quehann; 2 small frac- 64 64 i tion belos evious price. | French 7%s. 2615 26k 201 Industrials ruled irregular. There |'French 8s 16 19 19 %19 was some selling of the sugar bonds | German E1P 6%s. 36 20201 2014 following the announcement of the |GermanTs........176 stng of the Manati Sugar preferred | Ger Agr Bank 7s 29 Open. High, Low close. | AT ATV 47 4Tw Ma 231 28% 23| 156 166 156 | 23% 23% 23% | 43% 43 43% 35% 34% 35 787 78% 78% 89 35% 38%| a7 41 a1 130 180 130 38 88 38 16%° 16% 16 i 1284 127% 127% st i My 1% TT% BY GEORGE T. HUG! _Close. | 1 Hizh. 11 5 Open. 11 Adv. Rumley. ... Ahumada (+1) Air Reductn (5 Ajax Rubber.... 9% Allled Chem (4). 120% 120% AllledCm pf (7). 120% 1‘0 Allis Chalm ().. 84 83 Allis Chal pf (7) 109 9 i Amerada (1.60). 28l 2K ESIHL Am Agricul Chm 17% Am Beet Sugar. . | Kresge §8(1.29). < eDept S. . wLago Ofl & Tran. =R .ambert (314). Leh&ink stf(3) 143 & M B (14).. Toew's Inc (2., Lonz Rell A (4). Loose W 2d (7). Lorltlard(3) Low. Close. 98% 9b'3 Am Brake SR(6) 121% AmBrBovBI) 3 BY EDWARD (. STONE. Francis G. Addison, jr.. president of the District Bankers' Association. an- nounces that the recently voted educa tional campaigr. to make the banking business better understood by the pub lic will begin 1y next week, or at least within few days after that time, The association is going to publish a series of nine chats on the banking business, cost of operation, services rendered the public, how the public may help the banks, what depositors should aim to do for the banks in re turn for the services they get, as well as showing the necessity and impor. tance of banks to every community. Many of the facts brought out in the chats will be more or less familiar to bank patrons, but much information will be presented in 4 new light The members of the advertising | committee are very proud of the chats. as they call them. which are already prepared. The difficulty in bank ad vertising has been to find an advertis ing fhan who is also a banker, or to find a banker who is an advertising {man. The committee feels that these talks blend the viewpoints of the | banker and the advertising man to an unusual degree. It is only natural that T. Car&Fdy te) 9 cle (D). { Man Bhetd (23). i Marland Ol (4). { Marlin Rack (2). Mavtag Co (2)., Miamt Con (1).. AHd-Cor, TPow o P p Hile & Le Mo P (2.40). conv 4s A ie conv 4s B. fe conv 4= D, Motors 114% 114 24 34 €6 65 2 Locamot (5) 10 HARRSS Ewinc Trunk sf db 6s. . Great North 5s. . Great North 514 Gr North gen 7s Green B & W db B. Hud & Man ref fs. . Hud & Man aj 53 111 Central 51,8 11-0-C StL&NO 5 Int Rap Tran 5s Int Rap Tr 5s stpd. nt Rap Tran 6s Int Rap Tran 7s. Int & G Nor 1st 6s. Int & G Nor ad 6y, Kan City S 5s Kan City Term 4s.. 3 Lake Shore 45 28. .. 11 Safety R (%) Ship & Com. Sm & Ref (7] 122% &ern) 117% nuff (12) MERLE THORPE, Editor of the Nation’s Business, who has accepted an invitation to speak at the annual convention of the District Bankers’ Association at Hot Springs, Va. One of the high spots in hi s ¢ tal will relate to the amazing spread of installment buying. FOREIGN NEWS SENDS WHEAT PRICE UPWARD s Tex. \HR<0 1 |'\l‘(fll‘ Mis “’ Montana, Pow (5) AMontzom Ward. Moon Mot (3). Mothr Lode(75¢) Mo Picture(115) Motor Met(3.60) Murray Hody. h Motors not as a 8 s were well main- 24 65 *234% 35% 44 55 B8R 42 64 S starting declining. The upv: American heen checked for the stock fallin from the Frid Railway New Haven and among the favorites e were subjected to cc ing. Baltimore and Ohio was str The stocks belonging to the Siveringen group were well st but the Street 1 Tel & Tel(9) 149% * MOre | \ Telk Telezrts 6% i Am Tobaceo (8). m Tobac B (8). Am Wa Woel.20 Am Woolen. Am Wool pf (7). Am Writ Pa pf Vai | Am Zine ained, i Anaconda (3). ting | Armour of T (A) 29 46 13 t Darry (2). 38 Nat Dpt Stores t Distillers. .. Vat Po& Lt(40¢) 13 shme news res: proposed new plan for & merser No further effort work for higher pr ghares. On the these issues wert Gener: phalt d it w Refining de afd the spec Off and Transport spended. as natur: ings of (-&ufixul Motors should come upon the made to the oil inclined t spped to 63, whey point. Atlantic nts or more, fons in Lazo rket following the recent improve- ment in this stock. Just ity was down over a point on the Hudson Motor_lost similarly illys-Overland failed to attr: AEW YORK (#)—Stocks irregular; wiek end g well Beond issues react on phofit- tifm; Polish cent. Cotton e, Sugar and coffe «'HICAGO.—Wheat strong: le vdrable Southwedt crop reports. vmpathy with wheat. Ho, steady oreign drops ; favorable we holiday one-half sath- gal Corn aqgiet. DAIRY PRODUCTS. BALTIMOR Live poultry June 4 ng chickens a45; old h s, 17 each, (Special).— pound, s, 30a pig- 88 old, 495 Egirs—Recelpt cases; native 3 zen, offered at fanc 43ad5; iood to creamery paund, 40243; prints, store packed, \l 5 s buttdr, 'x,n'w rol (). —The | Co. reports £ $932 zainst $7%4.766 In the same month last year. Total sales for the first five months of the vear were $4,164.603, in of al- most 30 per cent over the correspond ing period of 1923 FIVE FIRMS MERGE. NEW YORK, June 5 ().—Consoli tion of five German comapanies manu- facturing milling machinery and equip- ment was announced vesterday in connection with arrangements for a $3,000,000 loan by American bank ta’the Mill Machinery Co., known in Germany a =" The financing in-this country will be handled by F. J. Lisman & Co., who will make a public offering of first mortgage 30- year 7 per cent honds. Fach $1.000 bend will carry a rant entitling the holder to purch the new company’s stock. GETS MARYLAND CHARTER. | BALTIMORE, June 5 Although Safeway Stores, erates 342 chain grocery stores in t southern part of California. it come all the wav to Maryland for its charter, and adds one more out-of- tafwn corporation to the long string of eimilar enterprises recently to obtain fncorporation papers here. An unconfirmed report in financi circles here is that the company in- tends to open a chain_of stores in the East, and Baltimore, Washington and Philadelphia are the first cities se. lected in which to open stores. (Special).— Inc., op- STEEL SCBAP ADVANCES. EW YORK, June 5 (#).—The st fening price tendency of steel products was carried a step further today when Pittsburgh heavy melting steel scrap was advanced nts a ton to $15.2 GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) tid, Asied Ger Gt (w In) Be 1014-18. 900.00 93000 Hamburg 4%s 1019, 150.00 (Quoted in doilars ver thou Ger Gen Elec 41a8 nre-w Ger Gen Elec 4125 1919 Bertin ts pre.war rliner Handels. Hamb 3s. 38 & 48 pre amburg Amer Line 4. orth German Liovd 4113 North German Liovd Prussian_Consols Krupp 5s 1921 Dusseldor? s pre- Frankfort a-M 4 Munich 4s pre-w Badische Anilin.. .. . A EG (German Gen Commerz and Privat Bank Disconto Gellschaft Dresdner Bank . Deutsche Bank """ Darmstaedter Bank Mercur Bank Vienn Heyden Chemical .. Austrian A E G (Gen Elec Aust A E G (Gen Elec) . SHORT-TERM SECURITIES. Gnotations urnaned Ly Redpiond & Op). Adirond, P. & L. C i Alum. Co. of Ame; Amer. Boet Su. Anaconda. Copper 6s Associated Oil 6a Chi. Mil & St. Gity’ of Lyon 6s 1934, olumb. G. & E, 1st bs i ontinental G. & E. Bu 1 Federated Metals 7s_ 1939 Figher Body Corv. Goodyear T. & R, 8s. 5 Great, Northern, 7s 1930, Guif il Carp Pa. 811 Eumble, il 814z, 105 Mo. Pac. R. 7. Morrds & Co. 7%s 1930 New York Central fs 197 Qrekon Short Line 4 1920 Fenna, By R 75 1930 Sinel rd Bu’s. Switt & Co B8 Phies &uor (im TUnign Pac. 8 e & Westarn Uni Weslnghouse FI2SRIRIBR3R333335%, O N 55555255 SESSERGS358SaR: Pz ¥ 25350055555 nmo03on 222 o3 =32z200x: 2 s S=33 I 13 & € [ absarbed. | exchanges | s fa-| Cattle | Toa 10 shares of | Armour of T11(B) | Asso DG 24 (7) | Atehison (7).... chison pf (5). 1 Birm & At. . 106% 135% 99% < | AUC Linectots) 199'. AtLGuif & WT. | Auanti | Austi n- | Aut Baldwin L. €7) Balto & Ohio(3) | Balto & Oh nf(4) | Barnsdall A (2). | Beldinz Bros(3). | Bethlehem Stee! Beth Stl pf (1) Booth Fisheries. Botany A (4). Briges Mfg 3) Bkin-Mn Tr (4). BKIn Un Gti1) Brown Shoe (2). Brown Sh pf (7) ! Brunswick Balk. Buft Roch& P(4) { Burns Bro (10).. 1 Bur Add Ma (3). Bush Terminal. | Butterick. Byer & Co.. a1% 1210 14% 105 9 69 40 100 Calif Packing(8) 1 1if Detrol(2).. Hahan Zinc. . Calumet& Ar (6 me&H (1 n Pacific (10). se Thr pf | Cent Leather pt Century Rib M Cerre De P (4).. Certain-Teed (4) Chand.Cle pf(4). 824 Ches & Oh (112). 131% Chi Great West. 9 Chi Gr West pf.. 21% ChIMil& StPpt 17% C Mil&StP pfefs 17% | Chi & Nwn (4).. 72% ChiRI& Pac... 497 CRI&Ppf(6). &8 CRI&Ppf (7). 100% Childs (32.40) 50% | ChileCop (218). 32% Christie B (1.20) 42% sler Corp(3) Coca-Cola (7)... 1 Collins & Aikmn. | Col Kuel & Iron. Col Gas & El (5) | Col Carbon (4).. Com Cred 1st 613 Com Solv B. Congoleum-N. Conley (sta). Consol Cigar. Consol Distribut Consol Gas (5).. 159% 106 514 39 63% 91 Cont Can (16) . .. Cont Mot (80c) .. | Corn Prod (2)... | Coty Inc (4) | Crucible Stl (3). | | | 10'z 43% 49% 70 9 a7 49% 24 1% 18% 84 Cuba Cane Sugar “uba Cane Su pf. Cuba Co (4).. Cuban-Am § Cuban Domin. .. Cuban Dom pf dahy Pkg (7). Davison Chem.. 39% Del & Hud (9).. 160% Dodge Bros CLA 26 i Dodge pf (7).... 84 Dome Mines (2). 14 Dupont (19)... 215% Dupont deb (6) . 103% Duquesne pt (7). 114% stman (18)... 110 ton Axle (2).. 27% ectric Boat 6 ec Power & Lt Elec P & L pf(7) Slec Refrig(f2). Elec Sto Bat(16) 3mmerson B pf. irie R R : arie 1st pf... Lrie 2d pf. 88% Eureka Vac (4). 48 Famous P] (10). 125% First S(1%) 33% Fisher Body (5). 85 Fisk Rubber. . 16% FiskR 1st pf s(7. 81% Fisk 1st pf ev(7) 100 Fleischmn(121,) 46% Foundation (8). 96% Fox Film A (4).. 64% Kreeport-Texas. 33% Gardner Motor. . 6% Gen Am Tnk (3). 45 Gen Asphalt.... 68% Gen Elec (¢8)... 324% Gen Elec (h3)... 81 Gen Gas pfA(7). 96 Gen Motors (116) 129 Gen Petrm (3).. 64% Gen Ry Sig t4% . 7% Gen Retrac (). 42 Glidden (2). 16 Gold Dust. 44 Goodrich Ru (‘) 48% Gothm S H (213) 42% Gotham pf (7).. 103 Grt North pf (5) 74% Grt Wstn Su (8) 96% Gt West S pf (7) 113 Green Canan.... 11% Guif Mo & Nor.. 28% | Gulf States S (5) 70% Helm Geo (163) 172 Househd (13%). 40% Howe Sound (3) 83% HudsonMan(2%. 37% Hudson Mo(3%) 65% Hupp Mot (1) 20% Indep Of1 (1) 25% Indian Refining. 10% Tnland St (2%).. 38% Interurb Rap Tr. 48% Intcontl Rub(1). 16 | Internat Agri... 16 InAgCprpf(7) 844% nt Bus Ma (3).. 46% Int Cement (4).. 54% Int Com Eng (2) 5¢ Int Harvstr(6). . 118y IntMtch pf(3.20) 647 Int Nickel (2)... 35% 51% Int Paper pf (7). 91 Int Tel & Tel (6) 126% Jewel Tea. 32% Jordon Mot (3).. 31% KCP& L 1st () 112 Kan City South. 417 Kelly-Spring.... 13% iennccott (4)... 52 KeystoneT&R. % 19 93% 73'% 1% 9% 36% 41% 129% ‘64% 79 42 16% 44 49 42% 103 4% 96% 18 1% 287% 70% .72 40% 33% 3% 66% 20% 25 10% 381 487% 16 16 8413 46% 54% 547s 118% 647 35% 51% 91 128% 82% 31% 112 42 133 52% % 43% | 49% | 425 103 74% 964 113 1% 28 0% 72 40% 33% 3% 66 20% 24% 10% 38% ¢ 48% 16 16 84 46% b4 547 118% 64% 35% 1 91 128% 328, 3% 112 42 133 16 84 46% 54 53% 118% 64% 36% 51 a1 126 32% 31 112 41 13% 52! % | Reminston Type | Sterling Pro (5). Nevada Cop (1) . NY Alr Rrake(2) NY Canners(c?) NY Central (7). NY Chi&StL(11) NY NH & Hart. . n & West. part efs o1 fx sta Norfk & \Wn (18) North A (B2.40). NthAm Ed pf(7) North Pac (5) Nunnaliy (1.50 12% 391 3915 127 Omnibus. Orpheum Otis Steel. ., Y'lcklrd Mot (2) I”'\lz::- Mot(1.: 80) Panhandle. .. .. the Ex (3) ck & Ford. . Pennsy R R (3). Penn-Seah Steel. Jere Marq (18). 1&RC&T. Prilip Morris. Phillips Pet (3). Pierce-Arrow. .. Pierce-Arrow pf. | Pierce OIl. Pitts & W Postum (4.40) Pub Ser N J (5). | Pullman Co (8). Punta Aleg Sug. | Pureoil (H).... Radio Corpof A. dfo C pf (3%) 2ay Cons Cop (1 Reading (4). ading rs. 584 15% 100 Reploxle Steel.. 10 Rep Iron & Steel Rep 1& S pf (T} Reynolds Spngs. Tobac B(5). yal D(al1.339) 94 6% 96% 534 40% 96% 79% 47% 31% 36% 13 48% 25% 107 63% 42 19% 224 34% 123% 97 31% 50% 33% 100% 115% 22 b53% 65 57% 44% 80 72% SanFr (7) Savage Arms (4) Schulte (88). ... Seaboard Alr L. Seabd Air Lipf.. Seagrave(e1.20) . ars-Rn (2%). hell Un (1.40).. hell Un pf (6). Shubert Theatre Simmons(12.25) imms Pet (1) nelalr Oil. .. kelly O1142). 0ss Shefl' (6). South Port § (6) ou Cal Edison. ou Dairies A(!) Southern Ry (7). spleer Mg..... td Gas&El (£4) td G & EI p2(4) Std Ofl Cal (2).. Std Oil N J (1) Stewart War (6) Stromberg (8)... Studebaker (§). Submarine Boat. Superior O1l. Texas Co (3)... Tex Gulf S (10). Tex & Pacific Tex & Pac C Third Avenue .. Thompson (3.60) Timken (14).... Tobac Prod (7). Tob Prod A (7). Transcont OIl. Transue & W (2) Un Bag & Paper. Un Carbide (5).. Unotl (2)... Un Pacific (10). Utd Cer St (E2). Utd Drug (8). .. United Fruit (4) U S C I P&F(10) U S Distributing U S Express.... U S Ind Alcohol. U S Realty (4).. U S Rubber. . U S Smelt (3%). U S Steel (7) U S Steel pt (7). U S Tobaceo (3). Universal Pipe. . Univ Pipe pf (7) Vanadium (3)... Va-Caro Ch(n).. Va-CarCh 6% pf ‘Va-Car Ch pf(7) Vivaudou Wabash. ..., Wabash pf A(5). Waldorf (1%).. Ward Baking B ‘Warner Bros . West P ELpf(7). ‘West Maryland. West Md 2d pf West Pacific. ‘Wsthse ABr 161 Westinghse (4). Weston Elec. Wheel & L Erie. White Eagle (2) White Mot (4) . White Rock (2). Wickwire ctfs. . ‘Willys-Overland 26% Wilson pf new.. 43 Woulmewnsy 148 ‘Worthn Pump. .. 34% Worthtn A (7). 178 Worthtn B ()... 60% Wright Aero (1) 34% Wrig Wi (14).. Bl Yel T&C(75¢)... 22% Youngstown (4) 7614 A—Paid this vear—no 51% 2 2% 53 138% 54% 14 36% 46% 50% 100 106% 314 19 45% 82 43% 148% 9% 168% 107 169 53% 3% 53% 58% b5% 38 125% 128 63 18% 62% 84% 15% 50% 26 30% 2% 2% 19% 28 15 97% 12 19 86 116 €8 16% 22% 27% b56% 28% 1% regular 107 in common stock. paah n_col able terly. Plus_5% in stock. when _earned. E—Plus’ 139 share in sto cial etock, 24 5 1461 49'; 17% 30 9 25% 1% 101t 105'% 89 804% 173 34 27% 61% . 14% 3615 46% 50% 100 107 3% 19 45% B2 43% 148% e 1638% 107 170% 53% 3% 63% 68% 555 38% 126% 128 63 18% 68% 4% 15% 50% 96 30% 42% 3% 194 28 15 97% 12 19 37 116 68 16% 22% 27% 55% 28% 1% 26% a3 ll!% 73 60% B4% 513, 22% 5% lar E—Payable in Tn gtock. - H—Bh Hipartry sigei "y Hhars §Payable in (Omflll)ll stock. slodk Davale 1% quu"wm instock, .. ‘Warner Sugar net loss of $220,3; rporation reports for 1925. alter de: 1463 4R [ 30 s 254% 1% 10 15 4| 104% 88% 46 50'% 100 106% 3% 19 44 B1%. 43% 148% 914 153'3 107 169 63 3% b53% b8 ba% 38 125% 128 63 18% 62'% 344 15% 49% 96 30% 41% 2% 19% 27% 15 9% 12 19 36% 115% €3 16 22 27% b4ys 28 1% 2‘% lO'lK 3435 73 60 32% 51% 22% 4% duction.of $1,500,000 for interest and 250,000 for estraordinary charges. | tted { timated holdover, ! ners and cutters. | Athens, v dividend. Offerings. however, were well ab- sorbed. United States Rubber bs ral- fractionally. Steel bonds were with Youngstown Sheet and 6s again at their recent hizh. tractions were steady. but did more, and the same was true of the oils. Marine 6s stood out as no- ticeably firm. In the fore can obligations bonds merely Some profit-taking wi in the German group. CAPITAL $1,000,000. Actual Figure Stated by American Potash and Chemical Co. DOVER, Del,, June 5 (®).—Incor- porators of the American Potash and Chemical Corporation e stated the actual capitalization to be $1.000,000. The American Potash and Chemica Corporation was incorporated yester- day under the Delaware laws with 1,000,000 shares of no lue stock which arbitrarily is sed at a value of $100,008,000. The corporation s to acqpire merger and conselidation prope and assets of the American Corporation, another Delaware Cor poration for producing, refining and dealing in chemicals, especially sodium pnln:\hln) Pl(nlu irm, Tube group South Ameri- were strong. Euro- held the own s still going on a by Tren CHICAGO LIVE STOCK MARKET CHICAGO, June 5 (United States Department of Agriculture).—Hogs— Receipts, 3,000 head; mostly steady: spots strong: quality considered; 240 to 300 Ib. butchers, largely bulk® desirable 210 1bs 130214.60; practical top. 14.60: packing sow: Sorted Killing pigs, 14 12.25 down; shippers, 3.000; part held off et: heavy-weight hogs medium, 14.00a1 light Tight, 13 0a13.00; Cattle—Receipts, 1,000 head, pared week ago, weighty steer: losing part of early advance, still 15 rlings steady to 2 ce long yearlings hold- ing steady; light vearlings, helfe sharing maximum decline; fat cows and heavy heifers, 15 5 higher; can- lower; bulls higher; stock- strong to 1 com- 10 to 1 steady: vealers, 50 to 7. ers and feeders scarce up; extreme top heavy steers, 10. vearlings, 1 part load, 10.3 week’s bulk prices follow: Fed steers, £.85a.10.00; fat cow heifers, 7.5029.40; canners and cutters, 4.25a 4.75; veal calves, 12.00a13.25; stockers and feeders, 7.5028.75. Sheep—Receipts, 8,000 head; for week, around 30,000 direct and 58 cars from nearby feeding stations: to- day’s market nominal; compared with week ago, desirable fat lambs around 25 higher; better grades vearlings shar- ing advance: in-between lambs and vearlings, mostly 25 to 50 lowes 50 to 1.00 lower; week fat follow: Fat 5 13.00a14.00; feeding Jambs, 13.2 WILL HEAD OB,GANIZATION FRENCH LICK, Ind., June 5(@).— John H. Hunt of Detroit, Mich., head of the General Motors (‘orporahons electrical division, was nominated yesterday to be president of the So- | ciety of Automotive Engineers during 1927 at the closing session of the con- vention here. Nomination is equiva- lent to election, as the organization nominates only one person for each of- fice and elects at its January meeting. Charles B. Whittelesey of Hartford, Conn., was named for treasurer. FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. closing.) RO(HMAII!H'{ Yield. 48 Nov 158 May [Ty RERREEREE 1 kb k1 e Fostaeasra oo FOREIGN EXCHAN GE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks woidyalue, tod, London. pound. -$4.8005 84, xsu"‘y Montreal. dollar. drachmal.’. Madrid, peseta. Vienna. crown. Budapest, crow Prague. crown Warsaw. zloty . . f‘o hagen, crow erown Stodinim. NEW YORK, June 5 (#).—Foreign exchanges irregular. Quotations (in cents): Great Britain, demand, 4861%; cables, 486%; 60-day bills on banks, 482316, France, demand, 3.08%; ca- bles, 3.09%. Italy, demand, 3.76%: ca- bles, 3.77%. Demand: Belgium,, 3.10%; iermany, 23.80; Holland, 40.1 way, 22.05; Sweden, 26.75; Denmark, 26.45; Switzerland, 19.36; Spain, 15.13; Greece, 1.27; Poland, 9.00; Czechoslo- vakia, 2.96; Jugoslavia, 1.76%; Austria, 14.125; Rumania, .40%; Argentina, 40.37%; Brazil, 15 Toklo, 47.00; Shanghal, 72.06%; Montreal, 100.09%. et TREASURY CERTIFICATES. (Quotations furnished by Redmond & Co.) ‘?u‘: h 1513 000014 14 00014 15 02961 crown Ger Gen Elec 7 Greek 7s. Holland Amer 6 Hungary 6% Ttaly 7s. . Japanese 45 Japanese 6145 Lyon6s...... Marsellle 6= Montevidio 7s Netherlands Nord 61 Norway 5%S8. .. Norway 68 1943 . orway 6s 1944. ... Norway 6s 1952 Orfent Dev deb 6s Paris.Ly-Med 6 Paris-Ly Med 7s Paris Orleans 7s Peru T14s 2 Poland 8s Queensland 7s Rio de Jan ¥s 1946. Rio de Jan 8s 47... Rio Gr Do Sul 8s. a0 Panlo 85 1936. Sao Paulo 1950. Saxon (PW) 7s. Seine 7s 4 bs Crot Slo 8s. . wiss 5745 1946. . Toho Elec Power 7s Utd Kingm 5128 29. Utd Kingm 5135 37. 5 3 Am Agri Chem Tl%s 8 Am Smit& R 1st 55 16 Sugar ref 6s AmT&Tecltrds.. AmT & el trbs.. AmT&Ts{5s. Am T & T deb 518, Am Water Wk 5s. Anaconda 1st 6s. .. Anaconda ev db 7s. Andes Cop 7s rets. Armour&Co 41srf Armour Del 5%s. RBell Tel Pa 5s & RBell Tel Pa 55 C Beth Steel pm 55 Beth Steel rf 5s. .. Beth Steel 538 53. Beth Steel 65...... Col Gas & E1 6s. ... Col Gas & El 5s sta. Con Coal Md 1st 5s. Cuba Cane cv 7s. Cuba Canecv 8s. Denver Gas 5: Dery (DG) 7s. . Det Edison 55 40 Dodge w 1 6s. . Donner Steel 7 Duquesne Light 6s. Est Cuba Sug 7%s Empire G & F 7%s. Goodrich 6%s. ... Good year 8s 1931, Goodyear bs 1941. . Hershey 5%s Humble O & R 5% Illinois Bell 1st &8. Ulinois Steel 4%s. Int Mer Marine 6s Int Paper 6s 47 Int Paper 6s. Int T&T5%S.. Kan G & El 65 52 Kelly-Spring 8s. Lackawa S 68 60... Laclede G 5%s52. . Liggett & Myers 7s Lorillard (P) 5s. .. Louisv G & E 5s 62 Manati Sugar sf 7% Mid-Con 6%s 40. Midvale Steel 5s. Montana Pow 5s. .. Mor's & Co 1t 4%s New Eng Tel 5s. .. N Y Edison 5s 43 N Y Edison 6%s. N Y Tel 6s 41.. North Am Ed 6%s. Nor Ohio T & L 6s. Nor States Pow 5s. Otis Steel T%s. Otis Steel 8s. . Pac T & T 1st5s... pan-Amer Pete 63 Phila Co 5%s 38. .. Phila Corf6sA... Phila & RAC& 158 Public Service 6s. . Pub Serv Elec 6s P Serv Gas 5%s 64. punta Alegre 7s... Saks & Co sf 7s. Sinclair Oil 6s. . Sinclair O11 8%s Sinclair Ofl 7s. Sin Crude OI1 6 Sin Pipe Line 5s. Skelly Ol1 6%s. South Bell Tel 5s. . Southwest Bell 5s. U S Rub 1st rf 5s.. USSteelsfbs.... Utah Pow & Lt b ‘Warner Sug 7s 39. Warner Sug 7s 41. West Elec 5s...... Westinghouse 7s. . Willys Ov 6%5 33 Wilson & Co 18t s/~ 7 Winchester A 7%s. 1 Youngstn S & T 6s. 12 soBaax: 0 @S-8 9 @ @ 3 v ramruImmlonTcoanen S anwinmenwanaBe Atchison adj 4s. Atchison gen 4s. Atlantic CL cl 4s... Atl & Dan 1st 4s 48. B & O gold 4s. 1 R&OI!tBlct. & & & OPLEWV ds.. & O SwDIiv 5s cfs B & O Toledo 4s. . Bklyn Manhat 6s. . Buft R & Pitt 4%s. Canfld North 6% Canad Pac deb 4 Car Clinch & O 6: Tentral Pacific 4s.. Cent Pac 1st 5s 90 Ches & Ocv 4%s Ches & O gn 4%s. ChiB & Qgn 45 58. Chi B& Q Istrf bs. Chi&1Tenbs.... 1 CM&StPdeb 15 ofs. B B B B 1033 100% 4 106% MISCELLANEOUS. 103% 103% 100% 100% 1074 107% 102% 102% 981 98% 103% 103% 1007 101 106% 97 103'% 1064 29 91 934 103 1034 9% 101 934 99% 1004 100% 82% 90 9444 984 8214 0’% 97 103% 1054 104%7104% 104% 104% 985 98% 103% 1037% 1204 120% 100% 100 100 97 104% 967% 101% 864 102% 1044 1174 108 105% 98 100 1023 107% 1025 10734 100% 1045 101 103% 107% 105 10715 % 110% 106% 934 97% 101 91% 13614 8 102% 106% 28 69 86% 102 106 102% 96Y% 103% 104% ' RAILROAD. 88 92% 92% 81% 9% 96% 98% 103% 103'% 108 92 101% 80% 7% 90% 18 854 108% 91 191 98% 97 924 105% 8 4% 102% 103 92% 93 106% 106'4 98 98 68% 69 85 85 102 102 105% 106 102% 102% 96Y% 96% 103% 108'% 104% 104% 83 92 92% Si% 1% 965 98% 103% 103. 107% 92 101% 80% 9% 90% 118 865 108% 90% 101 98% 96% 9244 105'% 78 48% 83 92% 92% 81% 96% 98Y% 103% 107% ! 92 80% 0% 118 35 108% 90% 101 98% 97 92 105% 8% o1% | 102% | lol'fi‘ o7 | Lake Shore 4s31... | Man Ry 1st 90. . Man Ry 2d 4s 2013 Market St 7s 40 Mil Bl Ry & L 58. . M St P & SSM en 4s MK&T4sB...... MK & T adj 5s. . Mo Pacific zen 4s Mo Pac 5= 1965. Mo Pac 6s 49 D . MoPac6s5H E.. Nassau N O Tex & M bs NOT&MG5s N Y Cengen3y N Y Cent 4598, N Y Centribs. NYChi&StL 51 New Hav deb 4s 56. New Hav d 43 57. New Havencd@s. . NY Ont W ist 45 N Y Rys 63 65 N'Y W & Bos | Norfolk & W en 4s. Northern Pac 3s. .. Northern Pac 58 D. Northern Pacr1 6s Ore Wash 1st rf 4s. Pennsyl gen 415 Pennsyl 55 64 Pennsyl 6158 Fennsvl zold 7s Pere Marq 1st 5s. . Port RL & P 55 42 Rio G W 1st 4s.. Rio G West ¢l 45. .. RIATk& L4%s... | St L IM&S 45 29. t L IM&S R&G 45, |StL&SFplésA.. St L& SF prinbs. StL&SF5%sD.. St L & S F adj 6s. TV 7% 63 974 95y 20 GSL- t LS W con 4s 3 San A & Arn P 4s. eab A L ref 4s Seab A L adj Seab A L con 6s Seab All Fla 6s. Sou Pac 4529...... Sou Pacific clt 4s. Sou Pacific ref 4 Southern Ry gen 4s | Sou Ry con 55 94. Sou Ry 63 56. . Southern Ry 6%s Term AssoS L 4s.. 118 87 644 59 281, 94 90% 95% 102'4 102°% 99% 103% 2% Third Averef 4s... Third Ave adj 5s. . Tol Tr L&P 5%s 30 Unlon Pac 1st 4s... Union Pac 1st rf 4s Union Pac 4s 27 Union Pac cv 6s Virginia Ry 1st 5s. Va Ry & P 5s. Wabash 5%s 75 West Maryland 4s. L ‘Western Pacific 6s. 1 997 Wilkes & E 1st5s.. 15 70 Wisconsin Cent 4s. 8 86 " DIVIDENIS. Pe. Par- riod. Rate. able. $1.75 July 15 June 30 July Tuly Oct Aug 1 Julr July July July July June 15 June 1 1 10 10 25 56 Stock of record. June 24 Tune i5 June 18 June 15 Sent 18 June 30 June 15 June 15 June 15 June 15 June 15 Mad® 31 May 31 June 15 An.- ‘lhnl bf.. Chelaen Ex BK... Tuke Pow Famous Pl Lasky Dose Int But Hole Sewing Mach. Midi Sul Prod. . July June 15 June 15 June 15 June 15 June 15 July July July July July P cum pfd. Read Trac Co Reece Button Hole Mch Co. Regce Folding Mach Co. Salt Creek Cons_Oil.. July July 1 June 30 June 30 B | i Jury 2 June 30 Ty 20 June June 15 June 15 June 15 June 15 June 15 June 16 Tune 19 June 30 wostern Gas, nfd. Twin City' R Trans ... Do. pfd. . Warner-Quin Welsbach Co. White Eagle o%co0 00 00000 OILS POSITION STRONG NEW YORK, June 5 (#).—Wall Street statisticians consider the pe- troleum industry today is in a strong: er position than at any previous time since the war ended. In each year since 1918 the current supply of oil has exceeded demand, but this situa- tion has now been reversed, it is said, present indications being that the average demand for 1926 will exceed the current supply by more than 200,- 000 barrels a day. WOOL TRADE LIGHT. Special Dispatch to The Star. BOSTON, June 5.—The raw wool market was the usual week end affair today, with trade light and few impor- tant changes in price noted. Contract- ing for new clips is proceeding more actively in the West, but it is under- stood that many of the purchases rep- resent speculative transactions. Deal- ers, as a whole, are not vet confident that a strong enough market is in sight to dispose of such takings. RUBBER LOWER. Special Dispatch to The Star. NEW YORK, June 5.—Crude rub- i ber, smoked ribbed sheets, was quoted today at 4214 cents-a pound. This com- pares with 43 cents Friday, 50 cents a month ago and 76% cents a year ago. COTTON GOODS QUIET. Special Dispatch to The Star. NEW YORK, June 5.—Cotton goods markets were quiet today, with prices unchanged. Print cloths were quoted at 7% cents for 64x60s and 815 cents for 68x72s. Raw silks advanced 5 cents a’peund In & moderately actlve ma- e gl Market Anxiom Over Outlook of | New Winter Grain Crop in Kansas. By the Associated Press CHICAGO, June 5.—With the Liver-| pool wheat market reported udv;mclng‘ in the face of big world shipment: wheat prices here took an early up- ward swing today. Anxlety over the, outlook for the new Winter crop in Kansas was largely responsible. Start- ing 1 to 7 cents higher, the Chicago | wheat market scored decided further gains. Corn and oats sympathized with wheat, corn unchanged to % | cent off, but rallying later. Provi-| sions eased after firmness at the out- set. Crop reports from Kansas concern-4 ing wheat were eagerly scanned. Spe- 2l notice was taken of an estimate from an official of the Santa Fe Rail- road. -As at first given currency here the total probable yield predicted was 125,000,000 bushels. Subsequently the | EHE e b e minimum of 125.000.000 bushels, and suggesting that it may be larger than that figure. | According to a dispatch today from | one of the most widely known crop ex- perts in the country, wheat between Florence, Kans., and Wichita, Kans., is beginning to fire and must have good rains at once, as even the best is at the limit of endurance. With suck' rain the crop will be a big one, but | without the prospective yield will shrink rapldly. Hot weather in ad- vance of rain would be disastrous. TRADE NEWS VARIED. Bradstreet's Finds Some Causes for Optimism, However. NEW YORK, June 5 (%) —Brad- street's said today: Business news of the week is of a varied character. On the favorable side are ranged warmer weather, which has helped retail trade in a fairly wide area, given a slight stimulus to wholesaling and jobbing, now showing a seasonal ebb, and where accompanied by moisture as in the old Spring wheat Northwest | and in the Northern States from the | Mississippi to the Atlantic Coast, has | ‘ {made for better crop conditions. | About the most optimistic sections seemed to be the lower Southwest, especially _Texas, Oklahoma and | southern Kansas and the Pacific | Coast. Latest car loading totals | again exceeded the 1,000,000 mark, | and monthly reports as to mail order | and chain store trade are very favor- | able, the former particularly, showing | quite a contrast with the reports that the lowest price for corn at this time since 1923 has affected trade unfavor- ably in the corn belt. Modifying this corn situation somewhat is the fact that hog prices are the highest in nearly four years. Weekly hank clearings were $8,187,749,000. | _—— | PRODUCTION DROPS. NEW YORK, June 5 (#).—Crude oil production east of the Rockles has fallen more than 300,000 barrels daily from the high record established a year ago, the statisticlans report. Meantime, consumption has been mounting steadily, and every day wit- nesses a decline in the total above- ground supply. Demand for petroleum this year is expected to average aout 2,400,000 barrels daily. The average supply for the first quarter, including all imports of both crude and refined. was slightly more than 2,200,000 bar- rels daily. E. V. PETERS RESIGNS. NEW YORK, June 5 (")—Ld\\ard, V. Peters has resigned as general sales | manager of the New Jersey Zinc Co. effective July 1. His duties will be as: sumed by A. P. Hobb, vice president, and J. H. Janeway, assistant to the vice president. NEW YORK, June 5 (#).—Directors | of the Manati Sugar Co. yesterday omitted the regular quarterly divi- dend of $1.75 a share on the prefer- red stock, due at this time. il MAY AID EUROPE. NEW YORK, June 5 (#).—The ex- tension of Federal Reserve activities into the ficld of European credits last yvear has aroused reports that finan- clal aid from the same quarter will be made available to\ continental | countries whose finances are still to | be stabilized. With Gov. Benjamin | Strong of the New York bank in Eu- rope, rumors are constantly filtering back to the United States that credits | of $100,000,000 to $200,000,000 for Italy or France or Belgium are under negotiation. Well informed bankers, however, see little likellhood of, any loans until definite financial p ms looking to the return of the gold standard have been outlined. g BUTTER IS LOWER. CHICAGO, June 5 (#).—Butter low- er; receipts, 21,004 tubs; creamery ex- tras, 89%ad0; standards, 40; extra firsts, 88a39; firsts, 36a37; seconds, 33a 35. Eggs lower; receipts, 17,693 case: firsts, 2815x ordinary firsts, | storage-packed extras, 30':a30% | mfln? 30a30%. |after so man; |year. they look for real results to follow the campaign. Regret Passing of Shoreham. Bankers and brokers in Washing ton's financiai district sincerely regre: the passing of the Shoreham Hote and the closing of its doors to patrons ars of splendid ser ice. Bankers that during the horeham's long life they have ei joyed many large accounts carried bs wealthy patrons, who made the Shore ham their home Brokers also state that they have | numbered a host of customers among | the guests of the hotel. While many of these traders will remain in Wash- ington and keep their accounts active, vet they will not be quite as close to the broker offices as they have been. The banks and brokers closest to the Shoreham naturally are mourning the closing of the hotel's doors more than any one else does, except the older patrons. ‘What kind of business will be estab- lished on the Shoreham site is causing wide speculation in the banking dis trict. The report that a big depart ment store = most likely to be lo cated there is doubted by many finan clal men. Local Securities Prices. Following are the bld and asked prices of local securities not listed un der Washington Stock Exchange rules. the quotations being published for the benefit of the many traders in these issues BONDS Last aniked Last bid. Army & Navy Club 5 83 Cosmos Club 414a City Club 7s . Metropolitan Club 4% s STOCKS. Anacostia Bank Chapin-Sacks Chapin-Sacks 77 pfd Chapin-Sacks R'r fd Connecti Pie Departmental Blnl District Title Ins. Co. Franklin National Bank \Mllnr ‘Train Control Mungey” Trust Co orth Capitol Savings Bank ortheast Savings Bank 01d Dutch Mkt. pfd. of Va Park Savings Bank Potomac _Savings Bank Raleigh Hotel Co Washington Title Ine. (0. .. Washington Base Rall Clubh. 7 Woodridge & Langdon S. Bk. 10 The quotations show that the asked price on Miller Train Control stock has increased since the signing of the contract between this concern and the General Railway Signal Co. relative to marketing of train-control app: ratus. Up to vesterday the stock h: been inactive for many weeks. Atchison Rate to Stand. Stock traders in local board rooms were greatly interested the other day when they watched Atchison common reach a high for all time at 140%. |and those carrving the stock at once began to discuss prospects for in creased dividends or extras. With the declaration of the 7 per cent dividend. chances of a higher rate have faded for the present at I President Storey also indicates that it may be a long time before any dividend rate is raised. “A 7 per cent stock is a good stock.” he says. “by putting surplus earnings into the property we are | more nearly making the 7 per cent dividend a permanenc He added that he thought the com pany would need its surplus after dividends for some years to come So it looks like a long wait before Atchison stockholders will see an increase in the rate on common. Bankers Pian Summer Outing. The Southeastern group of the in- vestment division of the American Bankers' Association will have fts | Summer_onting at the Green Spring Hunt Club, Baltimore, next FEugene E. Thompson and Y. E. Booker. jr., of Crane, Partis & Co. and John L. Edwards, head of the local brokerage house of that name, will he among those to attend from Washington. The program in cludes a luncheon at 1:30, followed by a golf tournament later in the after- noon. About 80 members are plan ning to attend the meeting. The Southeastern group includes invest- ment dealers who are members of the Investment Bankers' Association in and. District of Columba, Vir- . West Virginia, North Carolina uth Carolina. Golf Tournament Plans Ready. Charles H. Doing, chairman of the sports committee for the bankers' con- | vention at Hot Springs, announces the completion of arrangements for the bankers' handicap golf tourna- ‘ment to be held on Saturday, June 19, beginning at 2 o'clock. The palyers Valle; ‘Wednes | will be divided into class A and class | B—elghteen holes medal play—net scores to count. The contest open to any one attending the convention. The class A winner will have his name engraved onto' the silver cup donated by Herbert T. Shannon and retain possession of the cup for one The cup was won by Walter B. Guy last year. The class B cup is offered by Lanier P. McLachlen and the winner of this one will also have his name engraved on it and hold the cup in his posses- sion for one vear. H. L. McLeod cap- tured this prize last vear on the same links. Other prizes are to be offered in these events for low gross, second low net and third low net. Stockholders of the Oriental Build- ing Association have elected the fol- lowing officers to serve for the ensu- ing year: Charles H. Bauman, pre: dent; Henry E. Deckman, secretary. and Charles W. Schafer, treasurer. who will have with them on the board of directors, Albert Schulteis, Carl Haneke, G. H. Schulze, John J. Kolb, H. J. Mattern, Willlam F. Ochsenreiter, August G. Herrmann. Stockholders®of Fisher Body Cor- poration voted to dissolve the cor- poration and sell to General Motors Corporation all of its assets, taking in payment 1,600,000 shares of Gen- “Totors common. This stock will ibuted to Fisher stockholde sis of one <hare of Gener: for one and one-half sharcs e on 1 Motor

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