Evening Star Newspaper, June 12, 1926, Page 28

rog * FINANCIAL. FURTHER ADVANCES -SCORED BY STOCKS General Motors, U. S. Steel and N. Y. C. Are Leaders in Brief Session. ‘Abitibl Pow ( Adv. Rumley. Ahumada (41).. Air Reductn(t5) Afax Rubber. Allted Chem ( Allis Chalm ().. Amerada (1.60). Am Agricul Chm Am Agri Ch pf. . Am Brake Sh(6) Am Br Bov EI(2) Am Can (2).. BY STUART P. W Am Can pf (7)., Am Car&Fdy (8) it atch to The Star. !w_ al tj.»-.?nu 'z l:. | Am Ghata 875, NEW YORK, June 12.—It had been | sm Ghicle (3). . pretty well forecast in the buoyan at yester s close that the buying movement would continue in the two hour session today. Anticipations | Am Ho P (2.40). were realized, and further advances; Am Ice (110). occurred under the leadership that had | Am Internatl. appeared on the previous day. Gen-|Am La Fr (1) eral Motors and United States Steel [ Am Linseed.... Jed the way, closely followed by New [ Am Linsd pf (7). York Central. Am Locomot (8) No three stocks could have heen se- | Am Metals (4).. Jeeted which would have been calcu- [ Am Po&Lt (g1). Jated to Inspire greater general confl- | Am Radiator (4) dence than these three. The interpre- | Am Safety R (3) tation commonly accepted was that{Am Ship & Com. they represented the attitude of pow- | Am Sm & Ret (7) erful banking interests, and buying | Am S& R pt (7) broke out again all through the list. | Am Stl Fdys (3). Toxas Co. was the feature among the | Am Sumatra.... rossing 54 in large volumes. Tt} Am Sumat A cfs. Well up to its best figures of the | Am Tel & Tel(9) ¥ CaliforniaPacking proved DY | A Tel& Teleg rts jts rise that it had by no means dis-| Am Tobacco (8). counted the 100 per cent stock divi-} Am Tobac B (8). dend. Am Woolen..... Other food shares were stimulated | Am Wool pf (7). by the action of California Packing. | Am Zinc. . 4 ' v in demand. so|AmZincpf... . Allied Chemical | Anaconda (3). a t higher prices. | Archer-Dantels. The General Electrics were higher. | Armour of TI1(A) Among the merchandising stocks | Armour of TII(B) Woolworth and Montgomery Ward [ Asso Dry G(2%) stood out strongly. The advance |AssoOll (12.40). continued in United States Rubber | Atchison (7).... and American Smelting did better. | Atchison pf (5). ut the big leaders throughout | Atl1Birm & At... were United States Steel and Gen- | At1C Line(t913) oal Motors. Steel Common crossed | Atl Gulf & WI... 135 in the last hour, the impressive | Atl Gu:f&“lpt part of the movement being the :th";t %7-:':6-- steadiness of the advance. In Gen- | Austin-Nichols.. eral Motors the situation was much | Baldwin L (7).. the same. Balto & Ohto(5). With the continued activity in|Balto& Ohpf(4) gome of the rails, Pan Handle Pro- | Barnsdall A (2). Qucing and Refining came to the | Beech-Nut (13). front, running up over 2 points. | Belding Bros(3). Atlantic Refining was higher. Mar- | Dethlehem Steel. lJand Oil gained a half point or so. | Deth Stpf (7).. put stocks like Independent Oil and | Bloomingdale, Lago and Pan-American “B” BlflnEdlson (8). comparatively little. Bkin-Mn Tr (4). Baldwin Locomotive got above | BkIn Un Gm;)- 110 new high on the present move. | Brown Shoe (2). Other equipments were not so much DS kvfl“k affected. The r in Seaboard Air ';f“"“:ck,r- . Jine continued, carrying the stock | Brunswiek Tec. - another point outhern Rail- ““::’:C;D(soc)fl : was decidedly strong again. X::!zerlcl{),”“ ¥ Calif Packing(8) Calif Petrol(2).. Calumet& Ar(6). Can Pacific (10). Case Threshing. Cent Leather pf. EST. decided]s arkets at a Glance NEW YORK (®).—Stocks, strong; ited States Steel and General M Jead rally. Bonds, steady; C man issues continue advance. Foreign exchanges, mixed; Norwegian kronen yeact. Cotton, lower; favorable crop reports. Sugal d coffee, holiday. CHICAGO.— good shing returns. bene- ficial rains. Cattle Hogs easy. WALL STREET BRIEFS NEW YORK, June 12 (#).—The present_situation in the pig iron in- dustry is said to indicate a real buy- ing movement, demand in all parts of the country showing improvement. The trade takes the view that prices are scraping bottom because impor- tant iron users are coming into the market for fairly large tonnages. Firmer steel scrap prices in the last 10 days have tended to confirm this beliof. Century Rib M. Cerre De P (4).. Certain-Teed (4) Chand-Cleve. ... | Chand.Cle pf(4). | €ni& FastIIl... Ches & Oh (112). Chi Great West. Chi Gr West pt.. Chi Ml & StP.. Chi Mi1 & St P pt C MII&StP pf cfs Chi & Nwa (4).. ChiPneuT (6).. ChiRI& Pac... Childs (32.40)... Chile Cop (2%). Chino Copper . Christie B (1.20) Chrysler Corp(3) Chrysler pfA(8). Coca-Cola (7)... Col Fuel & Iron.. Col Gas & EI (6). Col Carbon (4).. Com Cred (2). Com Solv B.. Congoleum-N... Congress Cgr(3) Consol Cigar. ... Consol Distribut Consol Gas (5).. Consol Textlle Cont Can (16)... Cont Mot (80c). Corn Prod (2)... Coty Inc (4) Cructble Stl (5). Cuba Cane Su pf. Cuba Co (4) Cuban-Dom Sug- Cuyamel Fr (4) . Davison Chem. . Del & Hud (9). . Del L & Wn (17) DRG Wstpf... Detroit Ea (8) Devoe&Ra(2.40). Dodge Bros C1 A Dodge pf (7)...s Dupont (+19)... Dupont deb (6) . Eastman (18)... Eaton Axle (2).. Eisenlohr & Bro. Electric Boat... Elec Power & Lt Elec P& L pf(7) Elec Refrig(f2). Eiec Sto Bat(16) End-John (5)... Equitable pf (7) ErfeRR....... Erie 18t pf. Famous P1 (10). Famous Pl rts FedLight(*1.40) Fed Min & Smelt Fisher Body (6). Fisk Rubber. ... Fleischmn(t2%) Foundation (8). Fox Film A (4).. Freeport-Texas. Gabriel A(14%). Gen Asphalt. ... Gen Elec (c8) Gen Elec (hd). .. Gen Elec sp(60¢) Gen Gas pf B (T) Gen Motors (116) Gen Outdr Ad(2) Gen OQutdr A (4). Gen Petrm (3). . Gen Ry Sig 4% - Gimbel Bros Glidden (2). Gold Dust...... Goodrich Ru (4) Goodyear pf (7). Gothm 8 H (2%) Granby Consol. . Grt North pf (5) Gt Nor Ore (1%) Grt Wstn Su (8) Green Canan.... Guantanamo. . .. Gulf Mo & Nor.. Gu M & N pt (8) Gulf States S (5) Hayes Wh(13%) Homestake (17). Howe Sound (3). Houston Oil..... HudsonMan(2%: ‘Hudson Mo(3%) Hupp Mot (1)... Tilinots Cen (7). Indep OI1 (1).... Indian Refining. Ingersoll R (14). Inland St (2%).. Inspiration (2).. Interurb Rap Tr. Intcontl Rub(1). Internat Agr. .. Ma (3). Lo irreguls Development of the commercial business of the Wright Aeronautical Corporation is reflected in deliveries of 75 engines solely for commercial purposes in the first five months this rear, compared with 63 for the entire ear 1925 and 21 in all previous years up to January 1, 1925. More than 40 per cent of its sales this year have been commercial units. Officers of the Standard Oil Co. of New Jersey left yesterday on their annual tour of inspection of the com- pany's properties, planning to return to New York June 22. The itinerary includes New Orleans, Baton Rouge. Houston, the Big Lake and Panhan- dle pools, in Texas; Artesia pool, New Mexico; Tulsa, Okla., and Independ- ence, Kans. International Paper Co. had surplus of $20,059,283 on January 31, 1926, against $18,461,221 the year before, a report to the Massachusetts commie- sioner of corporations shows. Total l.gsestf were $143,237,637, against $100,- 084,542, Gross earnings of the Delaware and Hudson Co. in May are estimated at ebout $4,000,000, this figure having been exceeded only once for that month, in 1923, and the rate of in. crease in the first week of June in dicates this month’s total may go be- yond that amount. BUTTER IS LOWER. CHICAGO, June 12 (#).—Butter— Lower; receipts, 19,696 tubs; creamery 40; standards, 39%; extra firsts, 36a37; seconds, Five Are Bankrupt. 8pecial Dispatch to The Star. RICHMOND, Va., June 12.—Five petitions in bankruptcy were filed in the United States Court here yester- day, the total Habilities being less than $20,000. There were two merchants and three county residents in the list, and one of the men in his schedule of debts named 11 physiclans und 2 drug- glsts as his principal creditors. MERSER PLANS READY. NEW YORK, June 12 (®.—Wall Btreet hears that plans for a merger of Continental Tobacco Co. and Philip Morris & Co. are ready for approval of the directors, the reported terms be- ing the equivalent of 1 share of Philip Morris for each share of Continental. The new title is expected to be Philip Morris, Consolidated. Continental is controlted by D. A. Schulte interests and Philtp Morris & Co. by the Charles F. Wheian interests, which include United Cigar Stores and Tobacco Products. S BANK CLEARINGS. Special Dispatch to The Star. NEW YORK, June 12.—New York bank _clearings, $931,000,000; New York bank balances, $9%,000,000: New York Federal Reserve Bank credits, $88,000,000. F. H. SMITH OFFERING. The F. H. Smith Co. is offering a new issue of $600,000 first mortgage 7 per cent coupon gold bonds, to be secured by a first mortgage on tHe Jand and building of the Overbrook Arms Apartment, Philadelphia. Int Harvstr(6).. BAR SILVER PRICE. NEW YORK. June 12 (®).—Bar gilver, 65%; Mexican dollars, 50%. IntMtch pf(3.20) Int Mer Mar pf.. Int Nickel (3)... 8% 113% 9% 17 57% 122 40% 49% 125% 994% 25% Cen Ry NJ(112). 285 14% 64% 42 18 32 33% 138 9% Inter Har pf (7). 122 High. Low. Close. | % 71 1% 8% 113% 9% 120% THE EVENING STAR, WASHIN NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office 71% | Int Paper........ 11% | Int Tel & Tel (6) Int T&Teleg rts. Jewel Tea...... Jordon Mot (3).. KCP & L 1st (7) Kan City South. Kayser J (3).... Kelly-Spring. Kennecott (4). .. Kresge 88(1.20). Kresge SS pf(7). Kresge Dept S. . Lago Ol & Tran. Lambert (3%) ¢ | Leh&\ink stf(3) | Lima Loco (4) Loew’s Inc (2).. 52t 128 % 35% 30% Lorillard(3).. Lounistana O11. Louis&Nash (). Ludlum Steel (2) Mack Trucks (6) Macy HR & Co. Magma Cop (3). Man ! Sup(1%) Man Fl gtd (d5). Man Shirt (1%). + | Maracaibo Of1. Market St 2d pf . Marland Of) (4). Marlin Rock (2) May Dept St (5) Maytag Co (2) MetroG pf(1.89). Mtami Cop (1).. id-Continent n & Tex Mo K & T pf (6). Missouri Pacific. Missourt Pac pf. Montzom Ward. Moon Mot (3)... Mothr Lode(75¢) Mo Picture (1) Motor Met(3.60) Motor Whi (2).. Mullins Rody . Murray Body. Nash Motors Nat Biscuit (4). Nat Cash Rez(3) Nat Cloak & Suit Nat Datry (3)... Nat Distillers. .. Nat Lead (8) Nat Po& Lt(40¢) Nat Ry Mex 2d.. Nat Tea (4). Névada Cop (1). NY Afr Brake(2) NY Canners(c2) NY Central (7). NY Chi&StL(11) NY & Harl (5). . Y NH & Hart. . NY On & West NY Rys ctfs sta. Norfk & Wn (18) North A (B3.40). North Am pf(3). NthAm Ed pf(7) North Pac (5).. Norwalk (1.60). . Omnibus. ... Onyx Hoslery . .. Orpheum Cir(2) Owens Bot (t4). Pacific Gas (8).. Pac Ofl (3) Packard Mot (2) Paize Mot(1.80). Pan-Am (6). Pan-Am B (6)... Pan.AmWnB(2). Panhandle. Panhandle nf Park & Pathe I Penick & Ford. . Pennsy R R (3). Penn-Seab Steel. Peoria & Fast. .. Pere Marq (18). Philip Morris. .. Phillips Pet (3). Pierce-Arrow. .. Plerce-Ar pf (3) Pferce Petrolm. . Pitts & W Va(6) Postum (4.40)... Pressed Steel(n) Pr St Car pf (7) Prod & Refiners. Pub Ser NJ (5). Pullman Co (8). Pure Ofl (1).... Radio Corpof A. RS I Cefs (4). Ray Cons Cop (1 Reading (4).... Reading 2d (2).. Remington Type Replogle Stee!. . Rep Iron & Steel Rey Tobac B(5). Robt Reis & Co. . Rutland pt St Jaseph L(13). StL & SanFr (7). St L Southwest.. St L Swn pf (5). Savage Arms (4) Schulte (§8).... Seaboard Alr L. Seabd Air L pf.. Seagrave(e1.20 Sears-Rn (2%). Shattuck F G(2) Shell Un (1.40).. Shell Un pf (6). Shubert Theatre Stmmons($2.25). Simms Pet (1) Sinclair Ofl. Sinclair pf (8) Skelly O1142) . Sloss Sheft (6) Sou Cal Edison. . South Port S (6) Sou Dairles A(4) Sou Dairles B. South Pac (8)... 1 Southern Ry (7). South Ry pf (5) . Spicer Mfg. Std Gas&El (g4) Std G & El p2(4) Std Mill (5)..... Std Oil Cal (2) Std OIIN J (1).. Std Oil NJ pf(7). Std Plate Glass. Stewart War (6) Stromberg (2).. Studebaker (§). Sun Ol (f1). Texas Co (3) Tex Gulf S (10). Tex & Paciflc. ... Tex & Pac C & O *Tex Pac Ld Tr. Third Avenue Timken (14) Tobac Prod (7). Transcont Oil. .. Underwood (4).. Un Bag & Paper. Un Carbide (5).. Un Of1 (2). & Un Paeific (10). 1. Un Pacific p£(4). Utd Alloy (2)... Utd Cgr St (E2). Utd Drug (8)... United Fruit (4) U S Distributing U S 1nd Alcohol. U 8 Realty (4) U S Rubber..... U S Rub 1st (3). U S Smelt (3%). U S Steel (7) U S Steel pf (7). Universal Pipe. . Urtv Pipe pt (7) Vanadium (3)... Va-Caro Ch(n).. Va-Car Ch p£(7) Vivaudou. ...... Viva pf new (7). Wabash. Wabash p . Ward Baking B, Ward Bak pf (7) Warner Bros. ..., West Maryland. West Pac pf (6). West Union (8 Wsthse ABr 16% Westinghse (4). Weston Elec. ... 64 | WestonA (2)... 37 | Wheel & L Erle. 36% | Wheel & LE pf. 44 86% 13% 85 174 28 424 5% 15% £9% 42 105% 112% % 144% 116% 6% 16% Open. High. Low. Close. | 52% 123% A 85% 31 112% 437 52 86% 113% 101 374% 76% 58% 23% 4% 106% 9% 39 86% 134 84 1734% 28 86% 13% 85% 175 284 43 76 13% 89% 42% 106% 94 51% 97% 11 424 6% 13% 88% 424 105% 9% 50 964 10 52% 40 97 67% % 80 Y% 144% 116% 68% 1 BOND LIST STEADY IN SHORT SESGION Trading Active and Prices Are Firm—Some Profit- Taking Crops Up. 524 | 128% % 36% 81 112% 43% 364 18% 53% 49 113% - 24% | BY GEORGE T. HUGH 23% Special Dispatch to The Star. 44| NEW YORK, June 12.—The bond !4‘&‘1! ket was active and steady in to- | day’s short session. | Speculative raflroad issues which 7% | had advanced so rapidly in the preced- 89 | ing session encountered a good deal of 16% | profit taking, but it was well ab- 135% | sorbed, and bonds in the same groupy 87% ! which had not participated in the vise | !so far were taken up. It was here 101 | that today’s gains were most pro- 971 | nounced. Much the same sort_of condition | existed in the high-frade { Kansas City Terminal 4s went to a { new top and Chicago, Burlington & Quiney 5s equaled their previous high. Cenfral Pacific first 4s and Denver & Rio Grande Consilidated 4s improved fractionally. Armour Real Estate 4358 and Armour of Delaware bles hoth went higher. On the other hand, there was some reaction in Consum- which went up so fast on Fri- ireat Northern s were in de- ind at one time. Vorfolk Southern Refunding re the new favorites in their class. 5% | These bonds have been selling more {than a point below the high reached eR; | carler in the year. A special move 241 | curried Wabash 51s to 106, which { was the best so far. There heavy { trading_ i souri Pacific, w Havens, in the Chic sterns in the St. “rancisco issues, but without change in the quotations. National Dairy Products 6s stood out among the industrials with a gain of ‘a point. Hudson and Manhattan 5s sold around their previous hest price, Central Steel §s recovered a part "of their recent loss. Oil bonds were just about the same. Foreign bonds did not do as well as the rest of the list. French 7}%s were up 3% point, but the German provin. clal ‘and industrial obligations failed to: continue their advance. The most important new offering next week will be $60,000,000 Federal Land Bank bonds with a 4% per cent coupon, against the 41z per cent on the issues sold last year and priced 101. 1183 58 28 much St g BALTIMORE PRODUCE. BALTIMORE, June 12 (Special).— | Potatoes. white, 100 pounds, 2.00a4.00; new potatoes, barrel, 2.00a6.00; asparagus, d L 50; beal ;" cabbage. hamper, , 100, 2.00a5.00 D 1.50; eggplants, crate, 3.00a6.00; kale, bushel, 25a40; lettuce, 2 Spring onions, 100, hamper, 1.00a spinach, , 2.00a3.50; rhub Apples, barrel, 1.50; strawberrie: | cantaloupes, crate, %! apples, crafe, 3.75a4.: U. S. SAVINGS BANK PAYS. Directors of the United States Sav- ings Bank have declared the usual quarterly dividend of 712 per cent, payable to stockholders of record June 20, it was announced today. \ B STOCKHOLDERS GAIN. NEW YORK, June 12 (#).—The Public Service Corporation of New Jersey had 53,000 stockholders on June 1-—a new recor which com- pares with 2,249 shareholders carried on the books December 31. 1920. Its total assets are $480,000,000. Gross revenue in 1923 approximated $95,- 000,000, DRY G0ODS EASIER. NEW YORK, June 12 (Special).— Cotton goods prices eased off 14 of a cent at the week end in a slow mar- ket. Print cloths were quoted at 7% for 64x60s and 8% for 68x72s. Raw silks were quiet and a shade easier in some grades. RUBBER DECLINES. Special Dispatch to The Star. NEW YORK, June 12—Crude | rubber, smoked ribbed sheets, de- clined a half cent today to 42 cents. This compares with 49 month ago and 76% cen a year ago. WOOL MARKET QUIET. BOSTON, June 12 (Special).—Raw wool markets closed the week qulet, with evidences of a growing price struggle between dealers and buyers. Dealers are quoting Texas 12-month wool around 1.10, while buyers show little disposition to pay more than 1.00 or 1.05 at the outside. DAIRY PRODUCTS. BALTIMORE, June 12 (Special).— Poultry—Live Springers, pound, 30a45; Leghorns, 25a36; old hens, 30a31; Leghorn ©, 25; old roosters. ducks, old, 18a23; guinea fowl, each, old, 40a50; pigeons, pair, 30a40. 367 cases; native , dozen, offered at 75a8 Eggs—Receipt and nearby fre: 30%a301%. Butter—Good to fancy creamery pound, 40ad31;: prints, 43%ads ladles, 32a33; store packed, 29a30; dafry prints, 29a30; process butter, 85a36: rolls, 29a30. s o BOSTON STOCK MARKET. BOSTON, June 12.—Following is a list of toda highest, lowest and closing prices for the most active stocks dealt in here: Am Pn ... Amoskeag " Bigelow Hartford o G303 51 S assem Do S BEEFER United Fruit new United Shoe M. Waltham Watch —— 27% 27% 56 56 28% 29% 1 1 26% 27 160% 162% 82% % b REEREER 2 el S0 nnai e ESitn s i 2 w@nd White Eagle (2) 27% White Mot (4).. 56 White Rock (2). 28% Wickwirectfs.. 1 Willys-Overland 27% WoolwthF'W (15) 161% Worthn Pump... 82% Worthtn B ()... 58 Wright Aero (1) 85% Yale&Town(t6). 67% 22% 99% 82 658% 85 g% Yel T&C(76¢)... 99% 5% Yel Tr&C pf(7) . hodirhedd % Youngstown (4) —Paid ar—no regular rate. B— 108 T e Stock Dayable 23s % auar o 1B OBNS" 5% i stock.. D—Pavable od, "B~ Payable in cash or % ie 1045 0 Shocks, Sunare'tn e ?1"-1.';'«,1: Spartly stock. tPartly oxtra. e P i W ftock: auartety. [ ke 28 “oi GTON, D. { | Eroup. | Canada 551931, ... ;| Sao Paulo 1950. .| Utd Kingm 5168 37. | Bank of Japan 6s. C., SATURDAY, JUNE 12, 1926. NEW YORK O DS STOCK EXCHAN(I;E l Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are in $1.000.) . High. Low. Close. Lib3%s.... 16 100 30 100 27 100 27 Lib 1st4%s 1 10220 102 20 102 20 Lib2d 4%s. G7 100 29 100 27 100 29 Lib3d 4%s. 11 10113 101 12 101 12 Lib 4th4%s 57 1033 1033 1033 US4s1944. 10 1047 1047 1047 = . FOREIGN. Sales. High. Low. Close. Argentine 6s Ju§9. 12 98l 98% 98% Argentine 6s Oct 52 3 98% 08% 98% Argentine 6s A. 98% 88% 98% Argentine 6s B. 98% 98% Argentine 7s. 101% Australlan 55 98% Austria 7s. . 101% Bank of Chile 6% 5. 14 7% 10 Sales. High. Chi Great West 4s. 131 69% CM&StPés25... CM&StPdb4s. .. CM&StPdeb 4s cfs. CM&StPevdks. 15 CM&StPr 4348 cf14 31 CM&SP cv bs cfs 14 CM&StPEs... Chi & NW gen 4s Chi & NW 78, Chi Rys 6s. A ChiRI&Prf4s... Chi Un Sta 4%s. i Chi Union Sta 5s Chi Unlon Sta bs 44 Chi Union Sta 6% Chi & W Ind cn 4s. CCC&StLSs..... CCC&StLTf6sA. Clev Term Bs. ..... Colo & Sou 4%s. Cuba R R7%s.. Del & Hud 1st rf 45 Del & Hud cv 58 35. Den & Rio G cn 4s D & Rio G imp bs. D Rio G West bs. . Erle 18t cons 4s. Erle gen 4s. . Erie conv 4s D Frie conv ext 7s FErle (Pa) cit tr 45 FlaEChs 4., FlaEC T4 new. ... Gr Trunk sf db 6: Grand Trunk 7 Great North Gr North gen 7s. .. Hud & Man ref 6s. Hud & Man aj 5s...115 Til Central ref 4s. .. 3 111 Cen 4s 5: 3% 104 | 111 Central i 105% | 11)20-C StLENG 3. 105% | Int Rap Tran bs.. . Int Rap Tr 63 stpd. Int Rap Tran 6 Int Rap Tran 7 Int & G Nor ad 6 4 91%| Towa Cent rf 4s. . 104% | 16wa Cent 15t 100 | gan City Ft s :;' Kansas City S 2s Sqw | KanClty Sbs... . Kan City Term 4s 80 98% > Low. Close. 9! 105% 103 19 87 103% 103% 104% 97 108% Belgium 6s. Belgium 61 s Relgium 7s. Belglum 7%s...... Pelgium 8s. , Bolivia 8s Rordeaux 88 Brazil 7s. Rrazil 8s. 16 23 8 2 4 12 14 5 anada 55 19F Canada 5%s 1929 Chile 7s 194 Chile 85 1941 Chinese Gov Ry 5 Con Pow Japan T7s Copenhagen 5%s. Cuba 5%s.... Czecho T3 rets. Czecho 8 1951... Czecho 8s 1952 ct Tenmark 6s D E In 5148 Nov Nntch East T 63 47. Dutch East 168 62. Finland 7s French 78 French Tl%s French 8s. . German E1 P 614s. GermanTs. .. Ger Agr Bank7s. Ger Gen Flec 78 Greek 7s Halt! 6s Hollan Hungary 7% Ttaly 7s.. Japanese 4s. . Ba5Rad waumnSanaian 2 L & N 4%s 2003 Man Ry 1st 90 Market St 7s 40. MIIEIRy & L 5s. .. MStP&SSM5s28gtd MK&T4sB. 3 MK & T adj 5s....181 MK&Toprin5sA. 2 Mo Pacific gen 4s.. 114 Mo Pac 55 1965.... 59 Mo Pac 6s 49 D. MoPac6s55E.... 55 Mont Trm ref 5= 41 New Or Term -1 Nassau E Ry 45 57. Tergens U M 6s . Mexico 5s assented Montevidio 7s. ... Netherlands 6s 54. etherlands 6s 72 rway 5% % Norway 6s 1943 orway 6s 1944 Norway 651952 .. Orlent Dev deb 6s.. Parls.Ly-Med 6 Paris-Ly Med 7s Paris Orleans 7s. Peru 734s..... Poland 6s 40. Poland 8s. Prazue 7%s Queensland 6s. Queensland 7s. ... Rio de Jan ¥s 1946. Rio de Jan 8s 47. Sao Paulo 88 1936 o N Y Rvs 65 65. N Y State Ry 4%;s. NY W & Bos 4%s. Nor & S gen 5s 5¢. Northern Pac 3s. Northern Pacr{ 6s. 32 Ore Wash 1st rf 4s. Pennsyl gen 4%4s. . Pennsyl 5s 64. Pennsyl 6%s. Pennsyl gold 7 Peoria & E inc 4s. . Pere Marq 1st 5s. PCC&StL5sA.. PCC&StL5sB75. Port RL & P 5s 42. Rio G W 1istds.... 3 Rio G West cl 4s. 103*|R1ATKS L4k%s: 103 | St L Taes 4s 20. . 10314| St L IM&S R&G 4. 98y |StL&SFpldsA.. 10314 | St L & SF prin 5s. 1007 |StL&SF5%sD.. 106 [StL&SFadie 4 [StL& S Finc s, 51 |StLS W conds St P Un Dep 5s . 108w | San A& Arn P ds. 100 | Seab A Liref 4s.. 92% | Seab A L adJ 5s. 9314 | Seab A L con 6s Seab All Fla 6s. Sou Pacific clt 4s. . Sou Pacific ref ds. . Southern Ry gen 4% Sou Ry con 65 94... Sou Ry 6556...... Southern Ry 6%s. . ‘Third Averefds... 11 Tol Tr L&P 535 30138 Union Pac 1st4s... 1 Union Pac 1strf 4s 6 Union Pac 4s 27... Union Pacev 6s. .. Virginia Ry 1st §s. Va Ry & P os Wabash 5%s 75. .. West Maryland 4s. Western Pacific 5s. Wheel & L, E cn 4s. | ‘Wisconsin Cent 4s. 103% 1024% 104% 104% 95% 87% % 103% 1044 4 114% 9314 118% 1044, 90% Saxon (PW) 7s Sefne 73 42... Sweden 515 ct. Sweden 6s. . Swiss Confed 8s Toho Elec Power 75 Utd Kingm 5148 29. Utd Steam Copen 6¢ MISCELLANEOUS. Am Agr Chem 5s.. 1103 103 Am Asri Chem Ti%s 4 103% 101t 4 101% 103 Bom vmmnwLwwxDe o e 5 Am SmIt& R 1st 55 24 Am Sugar ref 6s. AmT& T deb5 Am Water Wks Am Writing Pap 63 Anaconda 1st 6s. .. Anaconda cv db 7s. Andes Cop 7s rcts. . Armour&Co 4% srf Armour Del 5%s. .. Atlantic Refin 5s. .. Bell Tel Pa 58 B. Rell Tel Pa5sC.... Beth Steel pm Bs. .. RBeth € Beth Steel 538 Beth Steel 6s RKlyn Ed gen BKlyn Union 5 Calif Pete 6% Cen Leath 6s 45 cfs Chile Copper 6s 32. Col Gas & EL5S. ... Con Coal Md 1st 5s. Consumers Pow 5s. 2 Cuba Cane cv 8s. Det Edison 5s 40. Det Edlson ref 6s Dodge w 1 6s. Donner Steel 7s... . Duquesne Light 6s. Est Cuba Sug 7%s. Empire G & F 7%s. Goodrich 3. . Goodyear 5s 1941 Hershey 5%S...... Humble O & R5%s Tilinois Bell 1st 58. Int Mer Marine 6s. 1 Int Paper 6S....... Int T & T 5%S. Kan CP&L 58 A 52. Kan G & E16852... ~Spring 8s. Y 5r 45 Dre-war. .l Hactade G 53853 . A Frankfort a-M 3s pre-war. r Fhis Liggett & Myers 7s AlmER e . Lorillard (P) 7s. Louisv G & E 6552 Mid-Con 6%s 40. Midvale Steel 5s. ... Mor's & Co 1st 4% N Y Tel 43%s. 10 N Y Tel 6s 41. N Y Tel 63 49. North Am Ed 6s. North Am Ed 6%s. Nor Ohio T & L 6s. Yor States Pow bs. Nor States Pow 6s. Otis Steel 8s. Pac Gas & E168. Pac T& T 58 62 Pan-Amer Pete 6s.. Public Service 6s Punta Alegre 7s. Saks & Co ST 78 1% 934 1024 94y 94 105% 4 105 12 = o poce GERMAN BONDS AND STOCKS. (Quoted in dollars per million marks.) Ger Gt (w I 30656 Hamburg % g (Quoted_in dollars per thous: Ger Gen Elec 31b8 procwar " 5500 Ger Gen Elec. 4358 1018 Berlin 4x pre-war. ... ... Hambg s 325 & 38 pre-w Hamb-American_Line 4% North German Llovd 43 rih German Llos : mar) o] 108% 110 103% 105% 98 100 106% 107% 100% 102% 108% FEDERAL LAND BANK BONDS. (Quoted by Alex. Brown & Sons. Closing.) Rate—} it 1 ate—Maturi Bid, Acked. Yield. 0 s M ay 2333322223233 TRPPFSEEERITE 107% 100% 102% 108% 104% 107% 110% 107% 1 1 4 H P —— £ 3355255555555, | TREASURY CERTIFICATES. ‘fenn El (Quotations furnished by Redmond & Co.) Toledo Edn 1t 78 nd 4 dstr 3%s Dec. 15. 1026... U S Rub 238 Dec, 18 102 U S Steel s 5s. § & ik 1838 Utah Pow & Lt bs.. s Mar 15 102 Va-Car Chem 7s. Y Vertientes Sug 7s. . Warner Sug 78 41.. Westinghouse 7 Willys Ov 6%833... Wilson & Co 18t 8s. Youngstn S&T 6 RAILROAD. Atchtson gen 4s. ... Atlantic C L 1st 4s. Atlan C L 4%s 64 At & Dan 2d 4s 48. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal Selling checks gold value. ~_ tod London. pound. $4.8006 Montreal. dollar Parls, franc. Oslo, crown. ... Stockholm., crown. NEW YORK, June 12 (#).—Foreign exchanges irregular. Quotations (in cents): Great Britain, demand, 486 3-16; cables, 486 11-16; 60-day bills on banks, 4821, France, demand, 2.92%; cables, 2.93%. Italy, demand, 3.62; cables, 3:6: 118 'mand: Belgium, 2.98; Germany, 91% 23.80; Holland, 40.13%; Norway, 22.25; % Sweden, 26.76; Denmark, 26.54; % Switzerland, 19.36; Spain, 15.70; 1.2 Poland, 9.00; Czecho- Austria, 14.125 R, % firgtll;a 484};81%‘:@1.‘ 15.37%; Toklo, .81%; Shanghai, 46.81%; Montreal, 9% 7100125, 'A 1 ot Bklyn Manhat 6s. Buff R & Pitt 4%s- Canada South b: 1% 104% o CvarRNCLBBAM-~® 3 864 » | tuated: closed steady to wea FINANC NORTH IS ELECTED. Heads American Business Clubs’ Next Convention in Buffalo. PEORIA, Ill, June 12 (#).—How- ard I. North, Camden, N. J., was elect- ed president of the American Business Clubs at the concluding session of the annual convention here last night. New governors include J. W. Fitz- patrick Atlanta, Ga Dayton, Ohio, and Wal Asheville, N. C. The 1 convention will be held at Buffalo, N. Y. WHEAT PRICES DROP AFTER STRONG START Interest of Traders Is Centered Largely on Kansas News—Har- vest Starts Monday. By the Associated Press, CHICAGO, June 12.—Wheat prices receded today after showing strength at the start. With harvest expected to be in full swing throughout south ern Kansas on Monday, wheat holders in a position to realize profits were quick in seizing opportunity to sell out here when prices bulged. Starting unchanged to 1 wheat soon underwent a material set- back all around. Corn and oats weak. ened also, corn opening unchanged to % off, and undergoing a moderate general ~decline. Provisions were lower. Interest of wheat traders centered largely on news from as. reports indicated that southe: an s beginning.| it Adv at hand said the crop is made, will average 12 bushels to the Recent. rains prevented fu Jury. Firmnes Liverpool offset to ports from the pointed out in this during the greate year United St ruled equal to or k pool values, thereby i movement of American supplie cago July wheat at present is 25 to under Liverpool, apparently prom stable hasis now for export wheat as something quotations of that part of Ay Close. 1 higher. | TAL, NEW HOTEL BOND ISSUE ANNOUNGED Bank Organizes Finance Concern—Clearings Gain During Week—Notes. BY EDWARD C. STONE. J. A. W. Iglehart & Co. and the Trust Company of Norfolk, Va., will offer early next week a new of $650.000 first closed mortgage 10- year 615 per cent gold bonds, secured by a direct first mortgage on all the fixed assets, valued at $1,734,013, of the Cavalier Hotel Corporation, Vir ginfa Eeach, Va. The erection of the Cavalier Hotel which is now nearing completion, ix | the result of a_community enterprise | sponsored by the leading hanks, cor- porations and business men of Nor- | folk and Portsmouth. There are | 1.600 stockholders, among the larg | est being the Pennsylvania Railroad | the Chesapeake & Ohio 3 | Norfolk & Western Railway. the Ol | Dominion Steamship Co., the Ral more Steam ket Co. (Old B Line) and the Norfolk & Washing- ton i The bonds are the of the hotel S. L. Glover obligation . of which is president. he property embraces 60 acres of land, fronting 1,800 feet on the At c Ocean, the new 200-room hotel a new 18-hole hotel golf course. | The hotel will be managed by the | American Hotels Corporation, which afiilfated interest, the United srporation, operates more { than 40 otber hotels in the country, including totel Roosevelt in New nd the Benjamin Franklin in 1phia The bonds are dated July and are offered in $1,000, 500 $100 denominations. to vield 6.5 per cent, with the Maryland, Virginia and District of Columbia tax refunded he Century Trust Co. of Baltimore |is trustee of the issue. There is al 1y much interest ashington in | new hotel. Several members of | the District Bankers' Association safd av that it was more than probable | that in looking for a new place to g0 for next year's meeting the Cavaller would be the hotel selected. New Finance Concern Formed. It | B | of 1926 and announced at the Merchants' and Trust Co. that a new 3 zation to be known as al City Securities Co. has anized by the officers and of the bank with an author- pital of $1.000.000. This action it taken by several anks recently who have wpanies. The ed ¢ | value stock, CHICAGO LIVE STOCK MARKET CHICAGO, June 12 (United States Department ' of Azricylture).—Re- ceipts, 4.000 head: uneven: lower than yvesterday 240 ‘to 325 pound 14.40; majority_desirable. 220" pounds down, 14.65214.75: practical top, 14.80 packing sows largely 12.70113.00: few sorted killing pis round 14.00: <hippers, 1,000 head: estimated hold over, 7,000 head: part held off market: vyveizht 13.70a14 me. dium, 14.20a14.75: i 4.00214.80. zht light. 1000 head , vearlings fed steer 5 grades of ligh . cht-weight heifer heavy steers fluc- finished pared medium-weight higher; better lings up most sharing advance: steers, all hts, fon: wor extreme top numerous loads of me- | 10.3: part load. 10 heifers zenerally 5: vearlings. feedin weth earling CLOSING COTTON PRICES. New York cotton steady at a net deelin ity 3 baiele Talv New Orleans cotton futures closed steady at % et deciine o1 3 to 14 poiniecd steads Close. July .. { Detoher December Tanuary March Adirond, P. Alum. €o. of Am: 0 | Amer_ Beet S Tel. & Tel. Am C Anconda_Conper viated Ol Columb. G. & E. Continental G, & Federated Mefals *| Fisher Body Corn.’ 5 . & Gult il Corp, Pa. | umble Ofl 5% s S.SIM. 6 M. Mo. Pac. R. R. Co Morris & Co. 7lax T New York Central s Oregon Short Line 4s Penna. . 78 14 Sinclair €. Ol P. U. S. Rubi Western Union Westinghouse E.& ber 7158 - tonr & CHICAGO STOCK MARKET. CHICAGO, June 12=Following is a report of today’'s sales; h and closing quotations at the (' Stock Exchange: sales. 100 Am States A wi 00 Am States B wi 50 Am = 100 Armour TiI pfd = Bt 5 Total s into | | Potoms 2| tor | which is held by the Merchants’ Bank. There will he an additional issue of $60,000 of the $25 par value, which officers of the hank will hold s means that when the new stock the officers and directors of k will have $250,000 in ths cern. The officers Drury, Rolfe aditor, who, with d_of H. Al Biddle, ch, Mark A. F Holland C. | Roland A. C. Waller, M. A. Waller and Joi: Bank Clearings Increase. of the lower commodity vailing, the gain of 5.3 per | cent in bank clearings this week is Qistinetly encouraging. Leading cities ¢ the United States report an agsre 203,000 to Dun's Re- 688,000 for the correspondi st vear With @ te 000,000 York City shows an inerease of cent. while the outside cente 16.293.000, di: Increases individual _cities the most marked expansion being at 3oston. Baltimore, Richmond, Dallax Angeles. june to date, average daily bank \rings are 1.1 per cent in excess of ge for a smmilar period of In vie prices pr view, Federal Reserves Gain. The consolidated statement of con | aition of the Federal Reserve banks | on June 8, made public by the Fed -l Reserve Moard, shows a decline | of £57.500,000 in holding of bills and | seeuritic i of $11,200,000 in Fed eral Reserve note circulation, while total reserves increased $36,000.000. | Holdings of discounted bills were $76.- 1800,000 less than a week ago, while | holdings of acceptances purchased in | open market and of Government se- | ex 00.000 and $14,200, | 000, above last week's | fis Great Excitement in Georgetown. great excitement in resterday, the din ex the Potomac and hecoming lost among the Vir ginia hills. The thrilling event was the annual game between the basc hail ns representing_the Farmers & Mechanies' National Bank and the s Bank. The Strug ce on the diamond in Hollow.” When the tle had lifted after nine i it was discovered that th Mechanics® team had won by the close score of 12 to 10, Local and Other Notes. Final reports of all committees charge of th oming convention local bankers at Hot Springs, made afternoon, showed that all arrangements had ~been completed down t detail. “The * was the com ires. | gle took pl “Georgetown ing ended. 3altimore and Ohio common stock one of the v t prominent is- the New Yol Stock Ex- vesterday, selling at 96%. ce recorded since 1914. and bond issues sues on change group headed by the . of New York received rd of the $4,000,000 State of Virginia highway certificates of in- debtedness, the bids for which were ; | opened late Thursday. Oral argument on application of Corfolk and Western Railway to acquire control of Virginia Railway will be heard before the Intersti Commerce Commission July 8. Contracts aggregating nearly $700.- 000 for 1926 highway construction ve heen awarded by the Virginia ate Highway Commission. Included are three projects on the Washing- ton-Richmond-North Carolina route. The Southern Railway has de- clared regular quarterly dividends of $1.75 on common and $1.25 on pre- ferred. The common dividend is pay- able August 2 to stock of record July 10, and the preferred July 15 to stock of record June 25. A. B. Leach & Co., Inc., announce the ndicate offering $5,000,000 { Cities Se e Co. refunding 6 per cent gold debenture bonds, due Jan- 1, 1966, that the issue has been subscribed and the subscription