Evening Star Newspaper, June 7, 1926, Page 22

) * 2. 2 STOCKS IREGULAR INTODAY'S TRADING Ra}i§, Firm, Have Steadying Effect on Remainder of the Market. ' 1 | i BY STUART P. WEST. Special Dispatch to The Star NEW YORK. June market was faiyly animated at times in certam directions, but the price tendency was mixed. The main jm- pulse, however, still was directed to- ward the side of higher prices. The firmness of the rails was a steadying feature. Particular strength wax shown in members of the South- W, like St Louis-San ouri, Kansas & Texas. outhern. Wabash New Haven ran good deal of profit taking Ivance last week of over and it showed the effect elling plainly. On the other hand, Reading was higher, and Pitts- burzh and West Virginia at one stage had quite a sharp rup-up. Changes in Specialties. : The principal price changes occur- red in stocks of the specialty class. General Electric new, selling ex-divi- dend, was lower and so was the old siock. International Combustion and Engineerin s very active, dropping over a po he start, but later more than recovering its loss. Postum western e Conspic ] . Signals and in American Safety Razor, two stocks which had been very strong demand for Tobacco ' at higher nd the advance in Foundation was resumed. lLeather stocks were bid up on talk that trade con Reynol FINANCIAL. THE EVENING' STAR, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office Low. Close. | 724 24| 113% 113% 11 Oren. High. bitibl Pow (4). 724 1724 dams Exp (8). 113W 1134 Adv. Rumley. 111 Afax Rubber. 9% 9% Allfed Chem (4). 320 121% AllledCm pf (7). 120% 120% 121% Allis Chalm 0. 84 81 Allls Chal pf (1) 108% 10812 Amerada (1.60). iy ‘Am Acrienl Chm 17% AmAeri Chpf.. Am Bank N. 1.6 Am Beet Sugar. Am Beet S pf(? Am Rosch A A Am Brake s ) Am Br Bov E1(2) Am Br Bo pf (7) Am Can (2) Am Car&Fdy Am Chain A (2) Am Chicle 3) A Chicle cfs Am Drug. Am Expre Am & For Pow.. Am & Fo P pf(7) Am Hide & L pf. AmHo P (2.40). 264 Am Ice (10). 44 . 192% Am Internatl.... 36 Am LaFra pf(7) 100 Am Linseed.... 35% Am Linsd pf (7). 19 Am Locomot (8) 101% Am Metals (4).. 50 Am Po&Lt (g1). b3 Am Safety R2) 604 ,Am Ship & Com. 9% Am Sm & Ref (7) 122 Am Snuf? (12).. 136 AmS&Rpf (1) 117% Am Stl Fdys (3), 41% Am Sugar (5)... 68% Am Sumatra.... 4% Am Sumat A cfs. 21% Am Tel & Tel(9) 149 A Tel& Teleg rts 6% Am Tobaeco (8), 115% Am Tobae B (8). 114% Am Tobac pf (6) 112 Am Typ Fdrs(8) 116% Am Wa Woel.20 61% Am Woolen. . Am Wool pf (7). Am Writ Papf.. Am Writ Pa ctfs AmZinepf... . Anaconda (3).., Archer-Daniels. Gotham pf (7)., Granby Consol. , Grt North pf (5) Gt Nor Ore (1%) Grt Wstn 8u (8) Gt West 8 pf (7) Gulf Mo & Nor. . Gulf States S (5) Hartman (2%)., Hayes Wh(131() Househd (1334). Howe Sound (3) HudsonMan (2% Hudson Mo(3%) Hupp Mot (1)... 11linots Cen (7). Indep O11 (1). .. Indian Refining. Indian Refgctfs. Ingersell R (14). Inland St (2%).. Interurb Rag'Tr. Inteontl Rub(1). Int Bus Ma (3).. Int Cement ¥4). . Int Com Eng (3) Int Harvstr(6).. IntMteh pf(3.20) Int Mer Mar pf., Int Nickel (2)... Int Paper a5 Int Tet & Tel (6, Jewel Tea. Jordon Mot Kan City South. K -Spring.... Kennecott (4)... Kinney G R (4). Kresge S8(1.20). Kresge Dept S. . Laclede Gas (8). Lago Ofl & Tran. Lambert (3%).. Leh&:™ink stf(3) LifeSav (1.60).. Lig&MB (14).. Lima Loco (4).. Loew's Ine (2).. Long Bell A (4). Loose Wiles. Lorillard(3). Loulslana Ofl LouisGasA(1.75) Louls&Nash (§). M'CroryB(15.60) Mack Trucks (6) Macy HR & Co.. [ 10. 19 T48% 19% 961 961 961 96l | 13 4 29% 18 29 n 19% 19% % 26% 33 40% 34% 39 66% 20% 120% 1 24% 10% 9% 1y 9% 494 16% 47 56% 57% 118% 1 65 13 29 0% 26% a3 40% 84 87% 64% 20% 19 24% 10% 9 91 pen. High. Low. Close. | 2% 102% 102% 102% | 19 13 29% 7% 26 33 40% 3% 38% 66% 20% 119 24% 104 L4 i 88% ~'3v% 48K 16% 46% B4% 54% 18 () 48% 15% 47 4% 573 118% 64% 374 364 36% “35% 86% 35% | 51% 61 128% 126% 3y 31 a3 30% 1564 23 43y% 354 19% 24 128 7% 113% 984 A7 127% 33% 156% T | TREND S MKED N BOND NARET ‘No Important Change in Main Trend Is Seen in Irregu- lar Movements. BY GEORGE T. HUGHES. Special Dispateh to The Star. NEW YORK, June 7.—Prices moved irregularly at the resumption of busi- ness in the bond market today. The general list showed signs of reaction, but there were enough exceptions, including several new high records, to make it evident that there had really been no important change in the main trend. These exceptions | wefe .to be found in ghe investment and semi-speculative sections as well. In the high-grade group there was { unusual activity in Canadian x}cmc 4s around their previous close. Union Pacific First 4s, on the other hand, dipped a half point and at the same time Great Northern bls, crossing 108, were at a new 1926 top. Kansas City Terminal 4s also reached a new high for the year. Changes in the United States Government list were mostly on the side of advance. An_ outstanding feature among speculative bonds was the 3-point advance in American Writing Paper {65, evidently forecasting some favor- {able developments The Cuban sugar hends were underg pressure again, and Manita 7!3s sol below 9413, a new low, reflecting the passing of the dividend on the pre- | ferred stock. Cuban Cane 8s were {off in sympathy, and American Sugar 6s dropped fractionally. There was good support for the oil bonds, for Marine 6s and for the New York City tractions. In the higher-ylelding railroad class New Haven collateral s of 1940 sold WASHINGTON, D. C, MONDAY, JUNE 7, 1926. Received by Private Wire UNITED STATES. (Sales_are in $1.000.) Sales. High. Low. 2:30. 4 100 27 100 25 100 2 8 102 21 10217 10217 88 100 27 100 25 100 25 74 1018 1016 101§ 141 1034 103 108 7 104 18 101 13 101 16 11048 1048 1048 = 21084 1084 1084 igh. Low, Close. 89 89 98% 9% 98% 9815 9 99 H 17 tine 6s Oct 59 G Argenting Bank of Chile Belgium 6s. Belgium 6%, Belgtum 7s. Belgium 734, Belgium 8s.... Bolivia 85 Bordeaux §x 4 103% 105 103 103 106% 105% 102% 102% 100% 100% 1093 109% 403 40% 92% 92% 99% 99% 101% 101% 8% 988 100% 101 100% 100% 103% 103% 103% 103% 108% 106 106% 105% 106% 106% 6% 97 %0 90 Chile 75 1943. .. Chile 85 1941. Chinese Gov Ry 5 Con Pow Japan 7s Copenhagen 5% Cuba 5%s.... Czecho 7%s rets. .. Caecho 8s 1951. Czecho 8s 1952 ct.. 12 DEI5%s Mchb53.. DE In5%s N Duteh East Dutch East 2. El Salvador 8s48.. Finland 78 merican 7% French7s.... Prench 7%s French 8s, . 101 100% 103% 1024 102% 104% 104% 99% sone L] Holland Amer 6%s. 1 Hungary 6%4s..... Direct to The Star Office. . High. Low. Close. 4 3 104% 103% 104% 1108 102 108 80 108 107% 08 4 9w % 9% 7 101% 101% 101% P 91 9T% 20 00000000 SwDiv §s ofs yn Manhat 6s.. 3 Bult’E & Put é%a. 1 Can Nat 4%8 54 Canad Pac deb {s. Car Clinch & O NWVEWEEE Eoopprrer % 102% 102% 100% 101% 704 704 BY% CB&Q-I3Ys.... Chi&EIgnbs. Chi Great West CM&StP 43 CM&StP a6 CM&StPdeb 4s CM&BtPcvi% CM&RPcv4 Y as2¢! C M &St Pridys. . CM&StPr 4%s cf14 CM&SP cv 6scfs 14 18% 03 86% 104% Chi Union Sta 6% 1 CCC&StLbs. 1 99% 266% 80% S8wmSww ~wn Tk % 82 % 1094 100 81 100 100 100 107% 107% 101% 102 1074 108 Great North 5348 Gr Northgen 7s. Green B & W db Havana ERL&P 50. 9 Hud & Man ref §s.. 9% Sulenmn-D 97 97 £ IWHEAT HAS % 93% i l%u Material Advance Scored—Foreign eson| News Also Conducive to Bull- TE% | By the Associated Pre | 118% 113% | Great Britain are very small. Open- | 18% 19%|ing 2% off to % up, wheat quickly FINANC French Frane Rate Gets Down Below Three Cents Again Special Dispatch to The Star. NEW YORK, June In a day which included movements of only slight consequence in the stock and bond market the chief incident was the drop in French francs. The rate got down below the 3- cent level again—that is, within less than 3 of a cent of the low record of 2.72 on May 18. It was evident that the reports over the week end that the French authorities were planning a re- striction of {mports, leading up to a general curtailment of domestic consimption, were having anything but a reassuring effect. Any me: ure designed to bring about a drop in trade in order to cause less de- mand for the paper currency can only be interpreted as a sign of desperation. The gold in the Bank of France i8 not to be touched. If this had been agreed to, as the great ma- Jority of the experts of the finance committee wanted to have happen, it might easily have meant the be- ginning of the end. UPTURN ON DROUGHT NEWS ish Market Today. | | 1 CHICAGO, June 7.—Severe crop | damage reported from parts of Kan- | sas and Nebraska gave a new up-| ward swing to wheat values today. | Advices were also at hand that Italian | crop estimates had been much re- | duced and that stocks of wheat in | scored a material advance all around, TALT. TRADING 1S LIVELY ON EXCHANGE HERE Potomac Electric Power Pre- ferred Leads the Market in Today’s Dealings. BY EDWARD C. STONE. Potomac Electric Power preferred led the market in volume of trading when the week’s business opened on the Washington Stock Exchange to- day. Prices in both stock and bond issues were strong. Potomac Electric opened with the transfer of five small lots at 1071, followed by two more sales at 107%, and a later sale of five shares at the same figure. Ten shares of Wash- ington Gas Light stock changed hands at 68, the recent prevailing price Washington Iallway & Electric pre- ferred opened on two 10-share turn overs at 887, followed by another 10-share transfer at 883%. Two banks stocks appeared on the board—10 shares of American Se curity & Trust selling at 384, while 10 shares of Merchants Bank and Trust Co. changed hands at 152. Thirty shares of Merchants Transfer & Storage common sold at 114, un changed from other recent trans actions. Three shares of Capital Trac- tion figured in the day's sales at | 1033, the price that. prevailed at the end of last week. Lanston Monotype was active, 25 shares going at §61,. Georgetown Gas 58 opened the bond trading, selling at 97. Potomac Elec. tric consolidated 5s sold at 100%. and Washington Railway & FElectric i at 821;. The market closed with small sales in Chesapeake & Potomac Telephone 5s of Virginia at par and Potomac Electric first 58 also at 100 Convention Party Completed. It was announced today that the Pullman day coach arranged for by Robert N. Harper, president of the 97% 97% "87%| corn and oats and provisions were n% 31% B81%|firmer, corn starting unchanged to % ‘”u 1" 884 | higher and later making moderate % Magma Cop (3). Mallison & Co. .. Manati Sugar pf. 37 17% 56 | District National Bank, will be at- | tached to the rear of the regular Ches. {apeak and Ohio train leaving Wash- above for the first time. There was heavy trading in nearly all the New Haven issues, with New York, Hud & Man aj §i Tl Cen 48 §3. 111 Central 5%s. ditions had mended considerably dur- ing the second « ArmourDel pf(7) Armour of I11(A) Little Change in Oils In the oil section there W not much change. Heavy trading in Lago was a feature, but was net ae- companied by Drices. Stocks like Marland, Standard Oil of o nia. Cieneral Asphalt, Skelly and Pure Oil varied for the most part within a radius of a quarter to a half point. Altogether it was a day of no great consequence in the Wall Street situation. The market had proved previously its stability around the current price level, but it had also shown no naiion toward a new general advance. Traders were dis- posed to work for higher prices in because they felt the 1 had heen pretty 112 the biz decline, ited in the first week speculative well ligmd which culmi of May. French franc ! Cotton easy featureless. Brazilian mai CHICAGO. ut, - b vorable weather. Corn st ment demand. Cattle irre active and higher. CHICAGO LIVE STOCK MARKET CHICAGO, June 7 (United Department of Agricult er: mostly to ship, traders; bul rs, choice, 14.50; pounds top, vacking sows weight 14.30a14. packing medium, .85; light slaughter 1,000 head; ma- vearlings mostly veal mostiy siders, Sheep lambs, tives upw held ahove 10,00 mbs to k 12.00a13 13.002 13 R head: fat good na- choice Idahos common Cali- | 14.75; several feeders lots fat i several No' strictly | included; all rnia odd ewes, upward steay Toads veariinzs on sale. choice” handy ight lots upward to 16.50 ~ .o, DISCOUNT RATE CUT. BERLIN. June 7 (/).—The Reichs- hank discount rate was reduced today to 61, per cent, and the deposit rate to 71z per ce ALCOHOL TO ADVANCE. NEW YORK, June 7 (#).-—Deliver- fes of industrial alcohol by the Unite States Industr Alcohol Co., from September 1 to December 31, will be advanced to 29 cents a gallon for tank cars and 31 cents in drums. August deliveries will be 1 cent less and July deliveries, 2 cents less . GIBSON OIL WELL. NEW YORK, June 7 (Special'.— Gibson Ofl Corporation announced completion of anecther 1,000-barrel well on its 60-acre Laredo lease, in Aviator field of Texas, at 1,725 feet. One other well on this tract is expect- ed to he drilled this week. Gibson owns this entire lease, fiAIRY PRODUCTS. BALTIMORE, June 7 (Special).— Tive poultry—Spring chickens, 1h., 40 250; Leghorns, 30a42; old hens, 28a31; old roosters, 20; ducks, 17a23; pigeons, pair, 30a40; guinea fowl, each, 7o 85; old, 40a50. Tggs—Receipts, 923 cases; native and nearby firsts, doz., offered at 305, Butter—Good to fancy creamery, h., 40a43; pints, 43a45; ladles, 32a33 store-packed, 281a29: - dairy prints, 2814a30; process butter, 35a36; rolls, 2812230, VISIBLE GRAIN SUPPLY. NEW YORK, June 7 (#).—The vi fhle supply of American grain sho the following changes, in bushels: ‘Wheat decreased 1,138,000: corn in- creased 1,116,000; oats decreased 274,- 000; rye decreased 77,000; barley de- ereased 107,000. FEDERAL LAND BANK BONDS. 0t y Alex. Brow: .. sing.) R R ro ™ g™ Kl 32555525053 W PSS REL LIS TE bt ettt & i ang 1856-3 s S Jeo Cuba Co (4 Cuban-Am S Cuban-DPe S Cuban-Dem $ Armonr of 111(B) Atchisen (7) Atehtson pt Atl Birm & At., At1.C Line(+913) AtIGulf & WI Atlantic Refin; Austin-Nichol: Baldwin L (7).. Ralto & Ohlo(5). Ralto & Oh pf(4) Bang & Ar (3).. Barnet Leather. Barnsdall A (2), Beech-Nut (13). Beldinz Bros(3). Bethlehem Steel. Beth St1 pf (7).. Beth Stl pf (8).. Botany A (4).... Briggs Mfg (3).. Bkin Edison (8), Bkin-Mn Tr (4). BkIn Un G(t11). Brown 8hoe (2). Rrunswick Balk. Buff Roch& P(4) Burns Br B (2), Bur Add Ma (3), Bush Terminal. . Rutte Cop (50c). Butte&Super(2). trerick. Byer & Co. Callf Packing (3) Callf Petrol(2).. alume&H(11). Can Pacific (10). Case Threshing. Cent Leather. ... Cent Leather pf. Cen Ry NJ($12). Cerre De P (4).. Certain-Teed(4) Chand.Cle pf(4). Ches & Oh (t12). Chi & Alten pf.. Chi & East 111 pf Chi Great West. Chi Gr West pf., Chi MU &StP... Chi Mil & St P pf CMil&StPctfs Chi & Nwn (4).. ChiRI& Pac... CRI&Ppf (6). CRI&PDPL(T). Childs (32.40)... Chile Cop (2%). Collins & Aikm Col Fuel & Tron | Colo Sou 1st (4). Col G & Epf (7) Col Carbon (4) Com In Tr pf(7 Com Solv B. Congoleum-N... Congress Cgr(3) Consol Cigar-.... Consol Distribut Consol Gas.(5).. Consel Textile Cont Can (*6) ... Cont Mot (80c).. Corn Prod (2)... Corn Prod pf(7). Cruetble 8t1 (5). Cuba Cane Sugar Cuba Cane S@pf. cul 49% 24% 20% | 1% 19% 29 40% 814 178 40% 324 as% g. Cuban-Dom S pt Cushman’s (8).. Davison Chem. . De Beers (al.21) Del L & Wn (17) DRG Wstpt.., Detroit Ed (8).. 132% Devoe&Ra(2.40). 364 Dodge Bros CLA 26% Dodge pf (7).... 84 Dome Mines (2). 14 Dupont (119)... 3164 217% Dupent deb (6).. 108% 103! Eastman (18)... 109% 109% EatonAxle(3).. 28 28 El Aute Lt(16%; Electric Boat. .. Efec Power & Lt Elee P& L pf(7) Elec Refrig(f2). End-Johm (5). Erle R R.. Erfe 1at pf 1% Erie 2d pf. . 38% Eureka Vac (4). 48% Famous P (10). 125 126 Pirts.. 5 B £ (3).. 120% 121% FedLight(*1.40) 30% 31 Fisher Bedy (5). 86 86 First Nat 8(1%) 33 Fisk Rubber. 17% FiskR 1at pf 8(7. 80% Flelschmn(2%) 46% Fox Fllm A (4).. 64% 644 Foundation (3). 96% 100% Freeport-Texas. 33% 38% Gabriel A(14%). Gardner Motor. . Gen An;:“nll: @) Gon Asoh t (5). 108% 108% Gen Cigars (4).. 524 52k Gen Blec (c8)... 318% 320% Gen Elec (h3)... T9% 80k Gen Elec 5p(§0c) 114 11% GenGasA(e1}4) 3%% 30% Gen Gas pfA(8). 107 107 Gen Motors (116) 1304 130% Gen Mot pf (6).. 1084 103% Gen Mot pf (7). . 1184 118% Gen Outdr Ad(2)* 29 29 Gen Petrm (3)., 64 64% Gen Ry Sig f4% 8% Gimbel Bro 53 403 1824 1. 364 103% 103% 109% 109% 2T% 2% 64 5% 20% 934 3% 123% 123% % 5 120% 121% 30% 31 103% 103% 118% 118% 28% 28 63% % 58% 16% % | Sou Dairfes 3 Glidden (3). 16% Gold Dust. . 6% Goodrich Ru (4) 49 49% Goodyr pr pf(3). 1084 108% Gould Cou (3)... 1T% 1Tk Gothm 8 H (3%) 43w 43% 44n 484 108% 1% 4 Man EI Sup(414) Man El ptd (45). Man Shirt (114). Manila Elec rts. Maracaibo Of. .. Marland Ol (4). Marlin Rock (2). Mathieson (4).. May Dept St (5). ! Maytag Co (2).. MetroG pf(1.89). Mexican Seabd. . Miami Cop (1).. Mid-Continent. . Mid.Cont pf (7). Middle States. . . Mid States Ofl ot Midland pf(110) Miller R etfs(2). Mis Kan & Tex. . Mo K & T pf (6). Missouri Pacific. Missourt Pac pf. Montana Pow (5) Montzom Ward. Moon Mot (3) Mothr Loda(75¢) Mo Plcture(114) Motor Met (3.60) Motor Whi (2).. Murray Fody. .. Nash Motors. ... Nat Biseuit (4). Nat Biseu f (1) Nat Cash Reg(3) Nat Cloak & Suit Nat Cloak pf (7) Nat Datry (3)... Nat Dpt Stores Nat Distillers. .. Nat Fnamel & 8. Nat Lead (8)... Nat Po& Lt(40e) Nat Fy Mex 1st. Nat Ry Mex 2d., Nat Supply (4).. Nevada Cop (1). NY Air Brake(2) NY Canners(c2) Y Central (7).. 'Y Chi&StL(11) StL pf (6) Y NH & Hart., Y On & West .. Niag F pf (1%). Norfk & Wn (18) North A (B3.40). North Am pf(3). North Pac (5)... Omnibus. .. Onyx Hoslery ... Orpheum Cir(2) Otis Elevator (§) Otis Steel pf.. .. Owens Rot (+4). Pacific Gas (8).. Pac O1] (3) Packard Mot (2) Paige Mot (4,80). Pan-Am (6). ... Pan-AmB (8)... Pan.AmWnB(2). Panhandle...... Park Utah (80c) Pathe Ex (c3). Penick & Ford. Penick&F pf(7). Pennsy RR (3). Penn-Seab Steel. Peoples Gas (8). Peoria & East. . Pere Marq (18) Phila Co (4). Phila Co pf (3).. Phila& RC&T. Phillp Morria. .. Phillips Pet (3). Pierce-Arrow. .. Pierce-Arrow pf. Plerce Oil. . . Plerce Petrolm. . Pitts Coal. . Pitts Coal pf. Pitts & W Va(6) Postum (4.40). .. Pr Stl Car pf (1) Producrs & R pt. Pub Ser NJ (5). Pullman Co (8). Pure Ol (1).... Radjo Corpof A. RSTIICefs (4). Ray Cons Cop (1 Reading (4) Reading rts Reading 18t Reading 2d (2) .. [ Reid JeeCr pf(7) Remington Type Replogle Steel Rep Iron xé St eynolds Spngs. i B(5) Royal D(21.339) Rutland pf...... Safety Cable (4) St Jaseph L(13). StI, & SanFr (1), StL-8anFr pf(7) 8t L Southwest. Schulte (§8).... Seaboard Air L, Seabd Air L pf.. Seagrave(e1.20). Sears-Rn (2%). Seneca Copper) . Shell Un 'gl.m).. Shubert Theatre Simmons(12.25). Simms Pet (1).. Sinclair Ofl...... Sinclair'pf (8).. Skelly O1112)... Sloss Sheff (6).. South Por pf(3). Sey Cal Edison. . Sou Dairies A(4) South Pac (%)... Southern Ry (7). Bouth Ry pt (5), Splcer Mfg. \v... 8td Gas&El (g4) Std G & El p2(4) Std Mill (5)..... $td Ofl Cal (3). StdOINJ (1).. 2% 3% 118% 113% 1 21% 21% 23 % 124 32 8% 1% w 116% E2) 30 11y 9% " 62% 1247% 22 104 1% 121% 22 a“u 69 244 1% 22y 57% 0% 23 % 12% 224 998 14 % 17 3414 357s 903 3% 84% 9% £64 244 615 28% 40% 24% an Far, 0% 30 112 g o3 6274 125 1% 1% 121'% % 5% 57% 23% 1% 2y 57% 29% T2% 13% 21% 23 % 12 32 98% 1% K 115% 117 34 374 90% 84y 4N 34M N 80% 80% R0% Pub S NJ pf (7). 1084 105% 1054 178% 2% 4% 104 106% 1 10 10 34 128% 114 31% 50 33% 176% 27% 451 5% 12% 1 114 % 27% 1 724 27% 4% 6% 12% 8% 16% 404 41% 983 03 10 49 7 964 585 51 49% 40% 05% 91 83% 23% 114 113% 21% 23 % 12 32 99% 1% K 4% 8% 20% 34% 24% 40% 24% % B 891 130% | 34% 127 114 31% 31% 31% 51 % 38%° a3 80 50% 33% 101% 101% 100% 101 8% “y 116% 114% 11 81 91 4% 4 5 1 % | sta on NI p2(D). 1176 Westchester and Boston 4128 and with New Haven 4s of 1956 at new tops. Erie prior lien 4s also surpassed their previous hest prices, but the other Erie bonds moved irregularly, the convertible “D" 4s higher and the general 4s lower. Features in the foreign group were a new high for German 7s and a new {low for Chinese Railway 5s. French, Belgian and Itallan obligations were not importantly changed. The high coupon South American bonds ex- perienced profit taking after the | strength of last @veek. [ Of the day’s new offering the most important was $15,000.000 Detroit Edison General and Refunding 3s at | 10112, to yield over 4.80 per cent. f FLOUR EXPORTS DROP. | Bigger Asiatic Wheat Crop As- signed as One of Causes. World exports of flour showed an appreciable. decline in 1925, due largely, the Commerce Department reported vesterday, to the increased wheat production and milling activity Zurope and a larger Asiatic wheat 1 ixports of t@ge United States de- reased from 15,990,000 barrels in 924 to 11,119,000, while those of “anada dropped from 11,476,000 to 0,319,000, A chorter Winter wheat crop in this country, combined with an in- crease of 300,000,000 bushels of wheat and 250,000,000 bushels of rye in Eu- rope, was reflected in the decline of 3,300,000 barrels in exports of flour {10 Europe from the United States 13,300,000 barrels in exports of flour {producing and exporting countries. | The United States increased her | flour exports to South America and | Africa by 311,000 barrels. — e e 17% (] o 11 « 1 l 1174 1174 6 6 81% 1% 61 814 2% Std Plate Gl Sterling Pro (). Stewart War (8) Stromberg (2)... Studebaker (§).. Submarine Boat. Sun Oil (11).. Superior Ofl. Superior Stl (2). Symington. . | Tenn Copper (1) i Texas Co (3).... | Tex Gulf 8 ( | Tex & Pacific Tex & Pac C Third Avenu Thompson (8.60 Tide Water(14) 48% 3% 50% 00 107 n 544 454 81% % Tob Prod A (7). Transcont Ol. .. Underwood (4).. Un Bag & Paper. Un Carbide (5). . UnOfl (2)y,.... 43! 7 rUn Pactfic (10). 148% Un Paeific pf(4). 79 Utd Cagr St (E2). 984 Utd Drug (8)... 1568% United Frujt (4) 108k U S C I P&F(10) 170 U S Distributing 534 US Hoffman t3% 48% US1nd Algohol. 53% S Ind AL p£(7). 101 58% U S Steel pf . Univ Pipe pf (7) Utl P&Lt A(E2). Vanadium (3)... Vick Chemical. . V' ‘aro Ch(n).. .CarCh 6% pf Va-Car Ch pf(7) Va-Car Ch ctfs. Vivaudou. .. 0% Viva pf new (7). 100 Wabash.....ees ‘Wabash pf A(5). Waldorf (1%).. Ward Baking B. Ward Bak pf (7) ‘Warner Bres. ... ‘Warren Bros (4) W Penn EL A (T) West Maryland. West Md 2d pf.. West Paciflc. . ... West Pac pf-(6) . West Union (8). ‘Wsthse ABr {6% Westinghse (4). Netherlands 6= 54 Nord 6%s Norway 6s 1952 Orfent Dev deb 65 Paris.Ly-Med 6: Paris-Ly Med 7s Paris Orleans 7 Y 99 103% 103% 63% 634 3% 84 95 98% 104% 104% 103% 104 Queensland 6s. Rio de Jan ¥s 1946 Sao Paule 83 193¢ Sao Paulo 1950 Saxon (PW) 7s. Seine 7s 42. Serbs Crot Slo 8s. Sweden 5% s ct. Swiss 5% s 1946 Swiss Confed ‘Toho Elec Power Ts b Utd Kingm 5%5 29, § Utd Kingm 514837, 12 Utd Steam Copen 62 4 90% MISCELLANEOUS. Ajax Rubber 8s.... 5 .108% 103% Am Agri Chem 7%s 11 103% 1034 AmSmit& R 1st 58 15 100% 100% Am Smit& R 2 107% 107% Am Sugar ref 6 1024 102 102 AmT&Tecl tr 4 42 98% 98 98 AmT & Veltrbs.. 6 103% 1034 103% 56 101 100% 100% B 106% 106% 10644 2 97h 97w 9TW 64 52% 48% 52K 9 103% 108% 1034 65 1064 105 106 9% 103% 103% 100% 107% Anaconda ev db 78 Andes Cop 7s rcts. . Armour&Co 4%s rf Armour Del 6% Atlantic Kefin b Bell TelPa s B... Bell Tel Pa§aC Beth Steel pm bs. Beth Steel rf 53 Beth Steel Beth Steel 6: Bklyn Union 6s. . Bklyn Unien 5%s Cen Leath 6s 4} e Chile Copper §s Con Coal M4 1st b Con Gas N Y 6%s. . Consumers Pow bs. Cuba Cane cv 7s Cuba Canecv 8s Cuban Am Sug 8s.. Denver Gas bs. Dery (D G) 78 Det Edison bs 40. Det uln;n f 6 1 104% 104K 1044 11 102% 101% 102 7 116 6 105% 11 1104 2 120% 120% 120% 1 101% 101% 101% 6 1034 1034 1084 9 94 4 9k 9% 96 Hershey §%s. Illinets Bell 1st §s. Int Mer Marine Int Paper 55 47. 1 9 8% 98% 98% 11246 1121 4 102% 102% 102% 1 104% 104% 104% 1 100% 100% 100% 2 103% 103% 103% 2121 121 121 Ig:‘ lgo 100 34 984 4 9% 96K 96% 5 101% 1014 101% 86% 861 8614 3 1024 30244 10216 : l:;l‘ 7% 1175 9 L 1L 98K 98k 98K S0 7 108% 108% 108% 4 110% 110% 110% 5 103% 103% 108% 1 106% 106% 1064 30 98 98 9 100% 4 105% 106% 1084 12 102% 102% 102% 5 107% 107% 107% 18 100% 1004 100% 1 102% 168% 1029 2 101% 101% 101% b : ;::“ }U'IK 108 2 06% 1 & 101 1004 To1" 17 1004 1008 Jon & 45 104 2 108 108 1o8% § 1104 1104 1104 3 107 106K 107 3 934 9% e Liggett & Myers 7s. isv G & K b8 53 Leuisv %1 Nor Ohio T & L Nor States Pow Nor States Pow Otis Steal 7%8 Otis Steel $s. Phila Co 6 Phila Co rf 6 Sinclair Oll 6%s Wheel & L Erie. Wheel & L E pt. ‘White Eagle (2) White Mot.(4) .« White Rock (2). Wickwire ctfa. . Willys-Overland Willys 08 p£(7). Wilson & Conew 7% WoolwthFW (5) 148% Worthn Pump. .. 84% Worthtn B Q). : Wright Aero (1) 34 Wrig Wm (10).. 82 Yale&Town(t5). 68 Yel T&C(75¢)... 23 Yel Tr&C pf(1). 9% Youngatown (4) 744 — yoar—no rerular rate. B— 108 T e T stock: payable 21s % auar- iy, B 0l erk” B Payable 'MH’GM "EE' Ay 5]“ Ge:hP.or .‘lo.(.ad s g i P_H135 81 o ahare in sve. -“l}lmjgel:t‘&‘?in!y nocfi.l. .QXPI:‘Hy‘%m e A" trverty. YP1ue ey +: o % U S Rub 1st rf §: vos B4 984 98 ol 1s. Sinclair 1 101 Sin Crude Of! 8in Pipe Line Skelly Oil 6%3 Sedthwest Bell 58 T v To.. ¢ 105% lows Jee jedo Edn 1st Ts.. T u 93 pam 23 1 10246 10844 108 20 106% 1065 108m 6 95 98 o8 8 107% 107% 107% 7 97 97 g7 1 67% 6% 1102 102 3112 111% 1ty 28 106 105% 105K Wilson & Co 1st és. 32 97 96% 9716 Youngstn S &T §5. 17 104% 104 $ 108 RAIL?OAI.’. & is. 2 82 82 Ann Arbor 4s vhed. B 2 93% 93 934 1 TI% MK e Vertientes Sug T Warner Sug 78 39 West Elec Westn Uni Westinghouse 111-C-C 8tL&NO §i 10%% 4% 14 17 Int Rap Tran Int Rap Tran Int & G Nor 1st 88% v 7% | total failure. Throughout northeastern 1 | Nebraska drought effects are likewise 1074 | Stated to be unusual. 6714 | CTease of buying of a general charac. 104 % 974 MStP & SSMen ds MStPABEMEsitgtd MStP&SSM6Y%s. MK&T 1st & MK&TprinbsA. Mo Paeific gen ¢s. Mo Pac 55 1965 Mo Pacés é* D MoPacés5s B.. 1 12 61 61 61 2 106% 100! NOT&MGb1s o etse N Y Cent 45 98. NYCentriB5s. NYChI&StL 5%8A. 89% 88% 89y 1065 1064 1054 108% 103% 1033 1034 103% 1081 163% 108% 1031, % T4% Ta% New Hav d 43 5. o8 New Havene d 74 ; 65% Northern Pacrits. 2 i 1135 113% Ore & Calif 1st §s. 100% 100% 8% 98 1004 105% 105% 1024 102k ‘10245 2 1134 1184 118% 10744 1074 1074 39 384 3 5 9% 1% 1% $.106% 10614 1064 % |Of almost all railroads in the United StL S Weondsi2, 4 St P&KCSAL 4%. | The boats will cost about $500,000 % 884 88y 1124 1124 17% 117% 117% 92 92 92 106% 106 Seuthern Ry 6%s.. 16 1 SouRy Mo &04s.. 1 Texas & Pacific 1st 2 Third Averef 4s... 16 Third Ave adj 5s. .. 20 Tol Tr LAP5%830 11 Union Pac 1st 4 99K 99% 99% 1 1021 1024 102 2 90K 99% 99% 11 103% 103% 103% 2 % 2% T2% 5100 99% I 1 7% Tt% T GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) In) l' 4 .filfl 140. o]} usand 4 :gfimf’&‘gi"g ‘Wilkes & E 1st §s. g g:% ‘WOOL INQUIRY BETTER. BOSTON, June 7 (Special).— Semewhat better inquiry for wool wag eviderced at the start of the . Much,of the movement in me- dlum grade wools has been for ac- count of top makers, Knitters are abgerbing more raw material. There is Mttle activity in fleece wools, and deslers have picked up new clips at | cable: slight concessions, Some lots of have moved st 353éc, and 3ic 1s commonly bid fer Michigan elips. Tervitory half hlged is held for $1.00 clean bas ————e “BANK CLEARINGS. N)ll‘:vyy' Eo&ln(l.( June 7 (!mo L orl cleari: 3 ! gt 000; New York hank. hl::c‘cs. $92.000.- 000; New York Federal Reserve Bank credits, $84,000,000; Boston bank clear- ings, $667,000,000. % S e s Irrigation, ancuive e 13 being i, which ares of the planned. 108% | general gains. 6 106% 1054 1054 | better than a seed-back crop. Nearly 1% | all flelds have large fired spots, with 92% | the leaves curling on the remainder $8% | and the crop deteriorating fast. 95% 054 85k | Vices. but on the bulges there was lib- 106% 106% 106% ?D.e« 1043 1047 104% | Dec. | 1017% | that the subscription | pared with actual gross of $10,114,898 yuble the pro- % inlrag, | According to trade reports current | here, on 2,500,000 acres in Russell, Ellis, Grove, Logan and Scott Counties and in other Kansas counties north of these, wheat as a_whole is not much Nebraska wheat west of Hastings and south of Platte is also reported a A decided in- ter resulted from the crop damage ad- eral selling to realize profits for house: that previously were buvers, | High. . B Dbl ded: [ July Dt RY] July Sept. ISSUES OVERSUBSCRIBED. LONDON, June 7 (#).—The £4,000.- 000 8ao Pgulo (Brazil) Coffee Institute loan, comPrising 71, per cent bonds, | was 8o oversubscribed this morning lists were closed almost as soon as they were opened. | There is a large amount of money available here for investment. Ap- plications for the recent £6,000.000 New Zealand loan totaled £ 120,000,000, while an issue of cotton mill stock amounting to £2,250,000 brought out £22.000,000 in applications. . WILL ADDRESS MEETING. NEW YORK, June 7 (#).—R. H. Aishton, president of the American Rallway Association; W. G. Besler, president of the Central Railroad of New Jersey, and Elisha Lee, vice pres- ident of the Pennsylvania, are sched- uled to the three-day conven- ::cm oll t'h: p:rchm‘ s l;:uutores divi- lon of e American lway Asso- cistion in Atlantic City next Wed- nesday. The organization comprises purchasing agents and storekeepers States, Canada, Mexico and Cuba. WANTS DIESEL FERRIES, SAN FRANCISCO, June 7 (Special). —The Southern Pacific Rn.ilwal?v‘cwfll let contracts shortly for construction of three Diesel engine propelled ferry- boats to supplement ferry service be- tween San Francisco and Oakland. each and must be completed b; 1, 1927. 2 i MISSOURI PACIFIC.- NEW YORK, June 7 (#).—Gross earnings of the Missouri Pacific for May are estimated at $10,850,000 com- in May last year. For the last 10 years the system has shown a. consist. ent increase in May business excepting & nominal recession in 1921 and 1922, Freight trafic in May was 132,766 carioads against 126,561 in May, 1925, BUTTER IS LOWER. CHICAGO, June 7 (#).—Butter lower; receipts, 20.398 tubs; cream- :a‘ «'tn-,fl :9*;!3.‘3;;: standards, i extra firsts, 7 firsts, g seconds, 33a35. Séatined BANK OF ENGLAND EXPORTS. NEW YORK, June 7 (Special).—The nd.ofn !E:fl::,d ex?onad 20,000 vereigns to Argentine, ,000 pounds to Brazil, 5,000 n‘:::.mfln o Uruguay and 21,000 pounds to Spain. FOREIGN EXCHANGE. (Quetations furnished by W. B. Hibbe &To. Neminal Sellig ehecis NEW YORK, June 7 (#).—Foreign exchanges irregular. Quotations (in- cents): Great Britain, demand, 486%: cables, 486%; 60-day bills on bank: Fran demand, 3.72; 482 3-16. cables, 3.01. = s, 3.73. demand — Belgium, 8.0215; Germany, 23.80; Holland, 40.15; Norway, 22.19; Sweden, ; Den- mark, 26.46; S8witzerland, 19.36; S 16.17%; . Greece, 1.2513; Poland, Czechoslovakia, 2.96; Jugoslavia, 1.76 Austria, 14.125; Rumania, .40' ntina, 40.37%; Brazil, 15.37 Tokie, 47.00; Shanghai, 72.25; Men- treal, 100.06%. PARIS PRICES FIRM. PARIS, June 7 (#).—Prices were firm on the Bourse today. Three per cent rentes, 47 francs 15 centimes. Exchange on London, 160 francs centimes. Five per cent loan, 54 rancs 40 centimes. The dollar was quoted at 32 francs 97 centimes. | weeks. |ington at 2 o'clock on Wednesday, June 16, arriving at Hot Springs at 9:30 that evening. Those who will £0 to the, local bankers' convention in this private car include Mr. and Mrs. Ezra Gould, Mr. and ) Howard Moran, Mr. and Mrs. Percy McGlue, Mr. and Mrs. H. L. Offutt, jr; Mr. and Mrs. Walter K. Bachrach, Mr. and Mrs. E. A. Morse, Mr. and Mrs John P. Maury, Mr. and Mrs. Laur- ence Slaughter, Mr. and Mrs. R. N. Harper, F. J. Groom, B. L. Colton, Sidney West, I. A. Fleming, Mrs. N. K. Fleming, Mrs. Lucy Clark, Miss Maury, Mrs. B. F. Iden, A. M. Fisher, Joseph Schiavone, R. P. Barnard and E. E. Herrell. The coach will be placed on a sid ing and remain at Het Springs 1o bring the same party back to Wash ington at the conclusion of the con- vention. Educational Drive Opens. The educational campaign planned | by the District Bankers' Association. which will be conducted through the Washington newspapers, opened to. day and will he continued for nine The matter will appear in & ifferent newspaper each day. It is the intention of the association to take the general public into its con fidence more closely and give much in- side information in regard to the operation of banks, cost of manage ment, great services rendered, and in other wayvs show their indispensable value to every community. The open- ing chat, as the articles are termed, relates to “The Bank's Place in the Community. This first talk will appear”in tomor- row’s Star. It has heen prepared with great care by a special committee of bankers. is teeming with interesting statements and is well worth reading and thinking about. It will tell many. a depositor a lot of things he may not know about his own bank. Peoples Now Has 32 Stores. Peoples Drug Stores, Inc., has ac- quired the chain of eight drug stores in York, Pa., formerly owned and oper- ated by Niles H. Shearer & Co., ac- cording to an announcement made to+ day by Malcolm G. Gibbs, president of the company. This acquisition gives Peoples a total of 32 stores, an in- crease of 14, or 78 per cent, since January 1, and is in accordance with the plans of the company to further expand its activities outside of Wash ington, where the business originated Other stores have been acquired r cently in Alexandria, Va., and Fred- erick, Md., and several additional stores have been opened or acquired in Washington. Peoples Drug Stores, Inc., was established in this city fn 1905, with one store having sales for the first year of $22,000. The second store was added In 1012, since which time the chain has grown steadily until last year sales amounted to over $5,200,000 from its 18 stores. The stock is listed on the local exchange. Trust Service Expanding. There:is no more illuminating proof of the wider acceptance and useful aspects of trust service than the re- cent development of co-operation be- tween trust officers and life insurance underwriters in the creation of life insurance trusts. Insurance cor®- panies appreciate the importance, says Trust Companies’ Magazine, of en- listing trust.service, not only in con- serving the proceeds of life insurance, which constitutes 81 per cent of all property left of decedents, but also to enable Americans “to dle at par” as well as to make insurance more attrac- tive in creating estates, It is conceivable that the time will come when the appointment of trust companies and banks as executors and testamentary trustees is the rule rather than the exception. The tend- ency to dedicate wealth to philan- thropic and educational purposes ren- ders trust sertice all the more vital. Bank Clearings Take Slump-. Returns of bank clearings last week, which are for five days only because of the holiday, show an aggregate of $8,717,222,000 at leading cities of the United States. This is 2.5 per cent less than the amount reported to Dun’s Review for the corresponding period of last year, the decrease being due to the smaller total at New York. At 222,000, the clearings at the outside cities show a gain of 0.1 per cent, the most marked increase being at Boston, Louisville, Detroit and Cincinnati. The gain at Louis- ville is 37.5 per cent; at Detroit, 23.3 per cent; at Cincinnat), 18.8 per cent, and at Boston, 17.4 per cent. The largest reduction is one of 20.4 per cent at Minneapolis. Today's Financial Notes. May sales of 8. 8. Kresge Ca. in- creased to $8,992,804 compared with $7,837,554 in May last vear. A total of ' $41,002,941 for the five months of 1926, against $36,767,379 in the same period of 1925, a gain of 11.55 per cent. F. H. P. Siddons, business manager of the institute’s year book, known as “Dollars and . reports that the banks are showing wide interest in the coming issue. As already noted, T. Hunton Leith has secured the serv- ices of five former editors to help make this number the best one ever. 1t will appear about July 1. Safeway Stores, Inc., of Maryland 10 [has declared the regular quarterly dividend of §1.75 a -h;n on l'hn pre-