Evening Star Newspaper, June 14, 1926, Page 30

* F 80 RISE CONTINUING IN STOCK MARKET Larger Volume of Trading Are Noted Today. BY STUART P. WEST. Special Dispatch to The Star NEW YORK, June 14. The week openad on the Stock "xchange with a Jarger volume of trading and numer- ous advances. For the first time signs appeared that the public was coming in, in a larger way Last weel's performances had extended the invitation and after having reso lutely for five months resisted fessional Wall Street, the spectacle of steadily rising prices was finally too strong to be resisted further The new outside participation was cautious. was sufficient 1o add considerably to toial transaction it was nothi wa on in the marke Professionals were vantage ar was that heforc might he indu obv lic buy i part. a ive o 820, ited Sta A good deai but this v later de again nd in the t forward sh espec Railway ves were very much ally Raldwin Lo Logomotive stocks went before any off encountered. T of talk once more business coming in for these comy panies and about the prospects for the rise, with another large crop sea son ahead, doing a lot more buying of equipment than they did a year ago. Railway shares were not so promi nent. The Street set considerable stove on_reports that copper had become definitely established on a 14-cent basls, whereas a god deal of busi- .nese had been taken below that fig-! br more ) speak of were i< a greal deal increased INANCIAL. . THE EVENING NEW YORK STOCK EXCHANGE Adv. Rumley. . Afax Rubber. Am' Agri Ch pt. Am Bank N. 1. | Am Bosch. | Am Can (2). Am Chicle (3). {Am Drug. . Am Express () {Am Hide & 1. | Am Ice (+10) [ Am La Fr1). \m Linseed Am Linsd pf AbItIb! Pow (4). Ad Rumley pf(3) Ahumada (41).. | Air Reductn(5) 113% 114% 113% 114% Am Cen pf (7).. Am Car&Fdy (6) 100% 100% Am Chain A (2). Pro- | Am & For Pow.. Am & Fo P pt(7) of. Am Ho P (2.40). 7). Open. High. % T 1% 12% 50 51 8 8 9% 10 122% 88% 28 16% 59 41 20 8% 2% 16% 57% 4l 20 115 50% b2! 126% 1267 25 10 5% 119% 119% 21% 23 91K 9% 448 44N 26% .. 188 18 34 T84 25% 40 ki 1344 13 34 T8l Low. Close. 1 71% 71% Gen Motors (116) 1% 50 8 9% Allled Chem (4). 128% 128% 122 AllledCm pf (7). 122 Allls Chalm () .. Amerada (1.69). | Am Agricul Chm 122 87% 27% 16% 5T 10% 20 Am Brake SK(8) 1225 122 122 Am B Shoe pf(7) 116 Am Br Bov EI(2) 40% 115 40 50% 26% 9974 25 40 % 119 21% 91% 44% 264 183 13 24 784 124 50% L4 10 122% 1224 Am Locomot (8) 102% 104% 102% 103 Am Laco pf (7). Am Metals (4). . Am Po&Lt (g1). | Am Radlator (4) 109% 110 im Republic I A Am A Am Sumat Am Sumat A efa. Safety R (3) Am Ship & Com. 1174 117% 5 51% 3 587 54 50% 9% 54 50% 914 Sm & Ref (7) 125% 1274 uff (12).. Am S & R pf (1) 118 11 Fdys (3). Sugar (5) ... 133% 133% 118 42% 6 16% 24% Am Tel & Tel(9) 142% 1 A Tel& Teleg rts Tobacco (8). 116% 116% An 6 6la Am Tobac B (8). 115% 115% Am Wa Wo c1.20 Am Woolen. .. Am Wool pf (7). .T3% Am Zinc. .. Am Zinc pf... Anaconda (3) Archer-Danie! Arch-Dan pf (7) ArmourDel pf(7) Armour of TII(A) | Armour of 111(B) Armour X1 pf (7) ure during the last two weeks. On the strength of this trade news American Sgelting and most of the copper shares were inclined to do skghtl better. Motor stocks were generally higher. Hudson Motor ran up sharply, prob.{ ably because the short interest had| not been fully covered in during the trading of last week. Fisher Body on top of its rise of nearly 6 point last week, gained another fraction. Plerce-Arrow at one time was very strong. The demand for Motors persisted, finally ca through its previous high for This was a notable occurrence and had | its effect upon the entire market.| Nash Motors was higher and so was, Studebaker. Mack True showed fur-| ther evidence of getthg over what temporary damage had been done by the profit-taking of a week ago. 1926. | Markets at a Glance NEW YORK (#).—Stocks strong; General Motors at new top; oil shares higher. Bonds steady; AMissouri-Pa- cific general 4s at new high. Foreign | 2xchanges.lower: French franc break | 14 points. Cotton higher, trade buy- | ing. Sugar steady, higher spot mar ket. Coffee firm, steady market. CHICAGO—Wheat easy, good rai Corn weak. favorable crop outlook Cattle steady. Hogs weak. ! RUBBER AD\;AiVCES. A& half cent to 4213 at Artloom (3).... Asso Dry G(2%) 54 23% 6% 8% 36 46% 35% 101 93 14% 7 85 52 43% 5254 .o22% 81 35 464 35% 101 93 14% : 4 85 51% 41w 0 DG 1st(6). 101% 101% 0 DG 24 (7). 105 Atchison (7).. Atchison pf (5). 105 .. 135% 136% Atl Birm & At.. At1C Line(t9 AtIGuif & WI... LAt Gulf&WI pf. 99% 99% % % ) 210 212 425 42% 41% 41% Atlantic Refing.. 120% 121% Au tin-Nichols. Austin Nie pf(7) Baldwin L (7).. 13% 13% 76% 6% 111% 112% Bald Loco pf (7) 1084 108% Bayuk Clgar. Beech-Nut (13). Belding Bros(3). ! Bethlehem Steel. {.Balto & Ohto(5) . Balto & Oh pf(4) Bang & Ar (3).. Barnsdall A (2). Barnsdall B (2). Beth Stl pf (7). Bloomingdale | Briggs Mfg (3) British Emp 2d Bkin Edison (8). 140 Bkin-Mn Tr (4). 1 Bk-Man T pf(6). | BKIn Un G(t11). Brown Shoe (2 Brunswick Hn{‘. Brunswick Ter . | Burns Bro (10).. Brazilian | gurns Br B (2). | Bush Terminal.. | Butte Cop (50¢). | Butte&Super(2). Butterick. . 95% 69% 40% 26% 25 41% 59% 0% 6 40% 26% 26 41 581 304 41 4l% 100 100 284 28% 27 2T% 2% 2% 141% 65% 84 80% Sale 26 10% 65% 84 9% 31% 26% 10% 138 139% 36 37 30% 30% 4% 4% 1 1 29% 29% | Caltf Packing(8) 139 140% | Callf Petrol(2).. NEW YORK, June 14—Crude rub- | Calumet& Ar(6). ber. smoked ribbed sheets, advanced A Calume&H(1%). the. meed | Colo Sou 1st (4) . 324 32% 60% 61% 13% 14 61 61 quotation today. This compares with | Can Pacific (10). 162} 162 4% a month ago, and T5c a year | Case Threshing. ago. DRY GOODS QUIET. Epecial Dispatch to The Star NEW YORK, June 14. Cotton goods markets opened the week quiet, With prices mostly unchanged. Prin cioths were quoted at T3 for 64x60s, | and 8% for 683 the latter an in. | crease of 3. Raw silks advanced 5 to 10 cents a pound in a fairly active market, BANK CLEARINGS. ! NEW YORK, June 14.—New York bank clearings £532,000,000; New | York bank balances, £109,000,00 ew | Yor Federal Reserve bank clearings, .000,000; Boston bank clearings, ,000,600, MOTOR WHEEL TRADE. NEW YORK, June 14 (#).—Fouward business of Motor Wheel Co. fs ported in good volume, with plants working on large schedules. Second quarter earnings are expected to ap- proximate 80 cents a share on the common stock, against $1.02 a share in the first quarter. SHULCO OFFERING. NEW YORK, Juns 14 (#).—Public offerings will be made this week of $3,500,000 guaranteed 65 per cent mortgage bonds of the sSchulco Co., Inc., newly organized subsidiary of the Schulte Retail Stores Cocporation, which will guarantee the bonds as to prineipal, interest and sink:ng fund. POTATO MARKET WEAKER. CHICAGO, June 14 (#).—Potatoes —Total U. shipments Saturday, new, 729; 216; Sunday, new, 56; market dull; Wis- consin sacked round whites, 2.60a Idaho. sacked russets, 2.90a Washington sacked russet New stock, trading fal market weaker; southern sacked tri umphs, 3.0023.50; few 3.60; Califo! nia, sacked round whites, 3.40a3.5 North Carolina, barrel cobblers, 6.75; South Carolina, slat barrel, 6.25. i COPPER PRODUCTION. NEW YORK, June 14 (#).—Copper mines In the United States produced 147,302,000 pounds in May, an increase of 394,000 pounds over April, and for the first five months of this year the output rose to 723,950,000 pounds, com- pared with 719,796,000 in the same period of 1925. SHORT-TERM SECURITIES. (Quatations furnished by R‘!dr’ d & Co.) Adirond, P. & L. C. 63 1929, Alum. Co. of Amer. 7s 1933 Amer. Beet Sugar 6s 19: . Am. Tel. & Tel. Co. 4s 16 Anaconda Copper 6s 192 rociated ONl Gs 1935 altimore & Ohio_Os 193 ethlehem Steel 5s 1936 Central of Georgla 6s 1 Chi.. Mil, & St, Paul 68 1 |l.v c‘l’la n 6s 1934. . olumb. G. ontinental G. & E. b Federated Meials 78 1939 .. Eisher Bnd¥ Cor&. bs 1928 Gaodvear T. & R, 8s 1931.. reat Northern 7a_ 1936 ulf il Corp. Pa. Blas 198 umble, Ol A ol & o7 5x T 738 ork Central 6 hort Line . ou'p! . 0i & Co B EEEREER e EEr R 7 O Tow Pyronn =3o5ess SESZISS FERORE orr, ew rexon enna, Snclalr witt 335355535005 2553 ey B IR BB SIS P PEFI T ESLSGEES oy vt a8 > Tent Leather. Cent Leather pf. Century Rib M.. Cerre De P (4).. Certain-Teed (4) Chand-Cle pf(4). Ches & Oh (112). 138 Chi & Alton. . *hi & East 111 Chi & Kast 111 pt Chi Great West. Chi Gr West pt.. Chi Ml & St P. Chi Mil & StPpf 19% CMil&StPctfs 12 Chi & Nwa (4).. | Chi Pneu T (5).. Chi RI& Pac. CRI&P DL (6). CRI&P DL (1. Childs ($2.10) Chile Cop (2% { Chino Copper. .. Christie B (1.20) Chrysler Corp(3) Chryster ptA(8). 100 CCC & StL pf(5) 111 Cluett Peab (5). Coca-Cola (7). .. Collins & Alkmn. 9% 10% 58 14% 64% 41% 314 94 10% 584 14% 66 424 31% 133 6 84 431 9% 21% 128, 19% 12 4% Tdn 1134 1184 51k 51% 85% E5h 98% 51% 38% 22 e 33% 101 111 624 62% 1656% 156% 39 39% 6 334 43% 9% 21% 124 Collins&Aik pf 7. 100% 101 Col Fuel & Iron.. as & El (5) arbon (4).. Col Col Com Cred (2). Com Inv (3.60) Congoleum-N Consol Cigar.... Consol Distribut Consol Gas (5).. Consol Textile. . Cont Can (16) Cont Insur (6).. Cont Mot (80c).. Corn Prod (2) 40 80% 63% 30 61% 195 61% 4 95% 2 41% 81% 63% 30 61% 19% 61% 4 96% 2 77 8h 133 183% 10% 10% 454 45w Corn Prod pf(7). 12T% 127% Crucible Stl (5). Cuba Cane Su pf. Cuba Co'(4).. Cuban-Am S (2). Cuban-Dom Sug. Davison Chem Del & Hud (9). Del L & Wn (17) 139 Devoe&:Ra(2.40. ) Detroit kd (8).. Dodge Bros CLA 267 Dodge pf (7) Dome Mines (. Dupont (19). Dupont deb (6) Eastman (18) Eaton Axle (2).. Etsenlohr & Bro. El Auto L (18 Electric Boat. Elec Power & Lt Elec P& L pf(7) Elec Refrig(£2). Elec Sto Bat(16) Erle R R Erfe 1st pt Erfe 2d pf. Fairbnk M pf(8) 112 8% T3% 86% 36% 50 b1t 24% 24% 1% 1% 38% 39% 160 161 189 86 37% 183% 136% 26% 84n 85 . 13% 18% 230 235 104 104 . 110% 110% 27% 2T% 124 12% 641 64% M T 19% 204 93% 93% % 15 80 80% 35 85% 41% 41% 37 87 112 Famous Bl (10). 126% 126% Famous pf (8).. 120% 121% Famous Pl rts. . FedLight(*1.40) Fed Min & Smelt Fed Min pt (7).. First Nat S(1%) Fisher Body (5). Fisk Rubber Fleischmn ({: Foundation (8). Fox Film A (4).. Freeport-Texas. Gabriel A(t4%). Gardner Motor... Gen Am Tnk (3). Gen Asphalt. ... 5% b% 30% 31% 68% 684 2% 2% 33% 33% 92 93% 18% 19% 46% 47% 99% 99% 64 €6 82 2% 4% 34% 6% 6% 48% 46% 638% 69% Gen Asph pf (5). 108% 108% Gen Cigar pf (7) 114% 114% Gen Elec (c8)... 324% 329% Gen Elec (h3) ... Gen Elec sp(60c) GenGas A(ell) Gen Gas pfA(7). 814 82% 11% 11% 40% k4 117% 511 68 109% 54 49% 9% 125 133% 101% 105 135 99% % 208% 41% a1k 118% 40%. 97 117% 51ty 2274 4% 8% 5% 465 35% 101 93 108% 947 6978 40% 139% 37 30% 4 11 29% 140 824 61% 14 61 161% 94 10% 57 13% 654 424 80% 345 40% 87 111 81% 11% 40% 97 | Gen Mot pf (7). . | Gen Ouar Ad(3) Gen Outdr A (4). Gen Petrm (3). . | Gen Ry Sig t4% . Gimbel Bros . | Glidden (2).. Gold Dust. ..., Goodrich Ru (4) Goodyear pf (7). | Goodyr pr pf(8). Gothm S H (214) | Gotham pf (7)., Gould Cou (29 Granby Consol., Grt North pf (5) Gt Nor Ore (1%) { Creen Canan. ... Wstn Su (8) ilf Mo & Nor. . 1 M & N pf (6) Gulf States S (5) Hartman (2%).. | Hayes Wh(t31y) Hoe & Co A Homestake (7). Househd (1313) . Houston Oil. ... Howe Sound (3) HudsonMan (214" | 11udson Mo(314) Hupp Mot (1), Tllinots Cen (7). Inter Har pf (7). | tndep 011 (1).. | Indian Motor ¢ Indian Refining Inland St (215). Inspiration (2).. Interurb Rap Tr. Inteonti Rub(1). | Internat Agri. .. i Int Bus Ma (3). Int Cement (4) .. { Int Com Eng (2) p3% Int Harvstr(6).. 119y IntMtch pf(3.20) 641 Int Mer Mar pf.. 874 Int Nickel (2)... 36% Int Paper. . 52y Int Paper pf (7). 93 | Tnt Tel & Tel (8) 1235 | Int T&Teleg rts. Intertype (11%) Tordon Mot (3).. Kan City South. Kayser J (3) Kelly % Kelsey Whi (6). Kennecott (4) Kevstone T & R Kresge SS(1.20). | Kresge Dep: S.. Kresge DS pf(8) Lago O1l & Tran. Tambert (314) T.ee Tire & R Leh&irink stf(3) Lehich Val(3%) Life Sav (1.60). Tiggett & M (14) |12 & M B (t4). Lima Loco (4) Loew's Inc (2).. 121 1 39 23% 45% 164 15% 477 57% Tl 22% 31 14 36% 13% 98 83% Ly 49 24% 86 234 4“ 9% 3474 834 20% R0Y 79% 621 38% T4 46% 1188 1294 long Rell A (4). | Loose Wilas. . T.oose W 2d (7)., Lorillard(3). Loulsiana Of1. .. T.oulsGasA(1.78) Loufs&Nash (6) Ludlum Steel (2) M'CroryB(15.60) Mack Trucks (6) Macy H R & Co Magma Cop (3). Mallison & Co. .. Man Kl Sup(414) Man El gtd (d5). Man Shirt (1%). Man Shirt pf(7). Manila Elec (2) Manlla Elec r Maracalbo Ofl. . | Market St prior. { Marlané O11 (4). | Marlin Rock (2). | Martin-Pary(2). May Dept St (5) | May Dpt S pf(7) " MetroG pf(1.89) Mexican Seabd. . Miam! Cop (1) AMid-Continent Middle States Midland pf($10) Miller R ctfs(2) Mis Kan & Tex Mo K & T pf (6). Missourl Pacific. Missourl Pac pf. Montana Pow (5) Mont Pow pf (7) Montgom Ward. Moon Mot (3)... Mothr Lode(75¢) | Mo Pieture(114) Motor Met(3.60) Motor Whi (2) Murray Body Nash Motors. . Nat Biscuit (4). Nat Cash Reg(3) Nat Cloak & Sult Nat Dairy (3)... Nat Dpt Stores Nat DSt 1st (7). Nat Distillers. Nat Lead (8)... Nat Lead pf (7). at Po& Lt(40e) “| Ngt Fy Mex 1st. Nat Ry Mex 2d Nat Supply (4).. Nat Tea (4). . Nevada Cop (1) . NY Canners(c?) NY Central (7).. NY Chi&StL(11) NYC&StL pt (6) 130% 176% 102% 36% 192y 4% 2414 289 28 149% 49% 50 3% 17% 38% 534% 118% 9 91y 63% 17 126% 1% 364 16% 129 3% 3914 NY & Harl (5).. NY NH & Hart Y On & West. NY Rys ctfs st: Niag F pf (1%). Norfk & Wn (18) North A (B3.40). North Am pf(3). North Pae (5)... Omnibus | Onyx Hostery . Oppenhelm (3) | Otis Elevator (63 Otis Steel Otis Steel pf. .. ‘Owens Rot (4). Owens B pt (7). Pacific Gas (8) Pac Ofl (3) Packard Mot (2) Paige Mot(1.30) | Fan-Am (6).... Pan-Am B (6). Pan.AmWnB(2). Panhandle. Panhandle p Park Utah (§0c Pathe Ex (c3)... Pentck & Ford. . Pennsy RR (3). Penn-Seab Steel. Peoples Gas (8). Pere Marq (18). | PhilaCo (4). Phila Co pf (3) Phila& RC&I. Phila&R C&I cts Philip Morrls Phillips Pet (3). | Pierce-Arrow. .. Plerce-Ar pf (8) Piedce Oll pf . Plerce Petrolm Pitts Coal... Pitts Coal pf . { Pitts & W Va(6) | Postum (4.40) .. Pressed Steel (n) Pub Ser N J (5). Pub SE&G pf(8) Puilman Co (8). Punta Aleg Sug. Pure Of1 (1). Pure Oil pt (8) Radio Corpof A. Radio C pf (3%) Rand Min (3.31). Ray Cons Cop (1 Reading (4). Reading rts. . . Reading 1st (2). Reid Ice Cm (3). Remington Type Remingtn 2d (8) 111 ReplogleSteel.. 8% Rep Iron & Steel 51% 99% 15% % 294 T0% 109 2% 39 84 100% 174% 844 28 110 42% 46% 33% 18% 59% 17 40% 4% 105 Received by Private Wire Direct to The Star Office . Low. Close. 138 " 1414 118% 118% 28% 28% 53 68 641 644 76 6 55 180 | 4| 6i% | 105 1084 445 ey | 98 587 51% 25 87 230 | 44 S4u K314 ¢ 20‘!‘ 804 | 814 | 46, 1181 | 129% | “ 39% | 16% 16% 2858 136% 38% 8214 1151 100% 38U 18% 186% | 374 | /2y ! 115% | 100 ¢ 2414 | 29% A9y 30 | 18% | 118% | 125 | 23 | 8u 124 2% | 1% 115% | 34y | R | South Port 3 (6) | Sou Dairtes A(4) Sou Dairies B. 664 | 26 90 1% 1573 1us | 21% | 3 “m.mal Dispatch to The Siar. | high. | Rutland pt. . | Soutnern Ry (7) i Splcer Mtg IstaMim(s)..... | Std Ofl Cal (2). | Stewart War (6) | Tex & PacC & O TRADING 13 QUIET INBOND MARKET Prices Well Maintained at Level of Last Week—No New Movement Seen. BY GEORGE T. HUGHES. W YORK, June 14.—Trading in bonds went on quietly today with prices maintained around the high levels of the week before. There was no new general upward | movement, but here and there special sues which seemed to have been selling out of line were bid up and this happened in the high-grade and second-grade classes alilke. For in- stance, Illinols Central Joint 6s crossed 103 to a new high and Kansas City “erminal 4s duplicated thelr previous Wabash 51 sold just below the new top established Saturday. ‘TRe gilt-edge utilitles, such as New Kngland Telephone and ‘Telegraph 4s | {und American Telegraph and Tele- { phone &s were In good demand, while lin the United States Government list the tax-exempt 3%s sold at 101 for the first time In a long time and Treasury 4s improved their position somewhat Oil honds attracted more attention | There were heavy dealings in Sinclair { 6. up a half point. and Pan-American Petroleum 6s. both moving in sym- pathy with their respective stocks. Central Leather 6s at 102 were selling above anything hitherto recorded Local traction securities were firm Hudson and Manhattan income bonda established a new high. Reports of increasinz earnings helped the Inter orough list. International Telephone and Telegraph 5148 appeared stabil- | zed after the decline of last week. Brooklyn Union Gas 5%s sold at their previous high The speculative rails had to absorb a good deal of realizing sales. Most jof them did little more than hold their own. Seaboard Air Line bonds were a shade higher, but they had not participated in last week's ad | vance. 1In higher grade issuex two | highs were established by Baltimore | and_Ohio, Toledo, Cincinnati 4s and | by New Orleans and North FEastern | 438 | The feature of the foreign group | was the persistent demand for Jap. | anese sterling 4s. Maturing only five | vears hence, the buying seemed to be based on the high vield. German pro- | vineial and industrial issues held most | of their gains. City of Berlin fiss ere especlally strong. TREASURY CERTIFICATES. | (Quotations furnished by Redmond & Co.) — Noon—— Offer. 38 Dec 11is Sept 43l Mar 41 Der Rep T&S pf (7). Reynolds Spngs. Rey Tobac B(5). Robt Rels & Co. . Royal D(a1.339) Safety Cable (4) St Jaseph L(13). StL & SanFr (1) StL-SanFr pf(7) St T, Southwest. St L Swn pf (5). Savage Arms (4) Schulte (§8).... eaboard Alr L. eabd Alr L pf. . Seagrave(e1.20). Sears-R n (23) hattuck F G(2) Shell Un (1.40). Shubert Theatre | Stimmons ($2.25) | Simms Pet (1).. Sinclair OMl. ... Sinclatr pf (8).. Skelly Of142) ... Sloss Sheft' (6).. Sou Cal Edison. . 38 1814 £0% 59% 251 62% | oy | 19% 23 28 3¢ 128 304 | 101% 51% 32% | 101% | 18 | 92% | 22| 643, | 54% | 70 | 68% 1 44 1% 81% 72 234 2% 24 | 8% | gt b4 | 140 4% | 14% | 937 | 3614 45% 33% 9 ! 60% | 100 106% 3% | 56% | 4% | 824 4% 160% 9% 1544 57 1084 171% 52 49% 65 | 61 61 106 0% 49% 1368 129% 19% 68 | 82 35 14% 45% 26 31% | 4% 5% 19% 824 93 123 54 124 19% 364 834 YT 68% 16% 31 South Pac (8) South Ry pf (5) Std Gas&El (g4) Std G & EI p2(4) StdOIINJT (1).. Std Of1 NJ pt (7). Sterling Pro (5). 1% Studebaker (§). Submarine Boat. Superfor Ofl Symington..... Tenn Copper (1) Texas Co (3)... Tex Gpif 8 (10). Tex & Pacific. .. 24 2% 8% 54y Bau 14% 933 36 45% 33% 9 50% 99% 1067 3l 56% 44 82 4an 149% 79% 154% 57 108 170% 51% 49% 5435 60% 59% 106 40% 49% 136 129% 19% 68% 80% 85 13% 5% 9 31% 4% 74 19% 31% 93 12 s 124 19% 36 83 17 €% 16% 81 \ 14% 933 36% 45% 84 94 514 100% 107 3% 56% 45 82% 44% 150% 9% 1565 87 108 170% B1% 49% 55 60 69% 106 40% 49% 136 129% 19% 68% 80% 854 13% 46% 96% 82 4% T4% 19% 32% 03 12% 54 12% 19% 36% 83 17 67% 16% 81 *Tex Pac Ld Tr. Third Avenue Thompson (3.60) Tide Water(1%) Tide W O11 pf(6) Timken (14).... Tobac Prod (7). Tob Prod A (7). Transcont Oil. ... Underwood (4).. Un Bag & Paper. Un Carbide (5).. UnOll (2). Un Pacific 5 Un Pacific pf(4). Utd Drug (8). UtdDrg 1st(3%) United Fruit (4) U §.CIP&F(10) U S Distributing US Hoffman $3% U S Ind Alcohol. U S Realty (4).. S Rubber..... Rub 18t (3). Smelt (3%4). Smpt (3%). U S Steel (7). U S Steel pf (7). Universal Pipe. . Univ Plpe pf (7) Utl P&Lt A(E2) Vanadium (3). .. Va-Caro Ch(n). . Va-CarCh 6% pf va-Car Ch 1(7) Vivaudou. .. | s S 8 Waldorf (1%).. Ward Baking B. Wward Bak pf (7) Warner Bros. ... Weber (4. West Mary West Md 2d pf ... West Pacific. ... West Pac pf (6). Wsthse ABr 6% Westinghse (4). Weston Elec Weston A (2)... Wheel & L Erie. White Eagle (2) White Mot (4).. Wickwire otfs. . Willys-Overland Wilson A (new). WoolwthF'W (15) 163% ‘Worthn Pump 324 Worthtn B ()... 61% ‘Wright Aero (1) 85 Wrig Wm (14).. 52 Yale&Town(t5). 67 Yel T&C(76¢) 22% Yel Tr&C pf(7). 99% Youngstown (4) 76% A—Paid I 107 in con BRI APy 5 T e 22 27% 554 1% 26% 16 162 32 61% 34 B2 67 2244 994 8% 23% 21% 22 27% 674 1% 26% 16 167% 33% 61% 84% 52 67 26 9% 6% Loy ] W 3% 157% 88% 61% 35 52 07 26% 99K 6% | Beth Steel rf 5s. | Dodge w 1 6s. STAR, WASHINGTON, D. C., MONDAY, I NEW YORK BONDS STOCK EXCHANGE l JUNE 14, A} 1926. Received by Private Wire Direct to The Star Office. - UNITED STATES. (Sales are in $1.000.) High. Low. | Close. 017 10030 1017 102 24 102 20 102 24 117 100 28 100 27 100 27 7.4b3d 4% 114 101 14 101 12 101 14 Lib 4th 44s 160 1035 1032 1032 UB3%s.... USds1944. US4xsc2. 91088 FOREIGN. Sal 50 a“ 8 30 22 66 26 5 1 18 4 u i 9 27 4 . 48 Argentine 65 Ju 89. Argeritine 6s Oct 5¢ Argentine s A.... Argentine s B. ... Argentine 7 : Australian 58 Austria7s.... Bank of Chile Bank of Japan 8s. . Relgium Belgtum 6% Belgium 7 Relglum 7%= Belgium 88 Bolivia 8s Bordeaux §s Brazil 7s. Brazf] Brazil 8s Canada 5s 1931 Canada 5s 1952 Canada 5%s 19 Chile 78 1943 Chile 85 1926 Chile 8s 1941. Chile 8s1946...... Chinese GGov Ry 5s. Con Pow Japan 7s. Copenhagen j%s. . Czecho 7% ret: Czecho 8s 1951. Czecho 88 1952 ct... Danish Munic 8s A. Danish Munic 8s B. D E In 515 Nov 53 Dutch Fast I 68 47. Dutch East 1 6s 62. El Salvador 8s 48.. Finland 7s. .. Framerican 7%s French 7s Y% 5% 9 98% 1014% 98% 101% 9% 10 984 PBY% 8% 98 101% 08% 101% 91% 100% 1% 90% 93% 109 107% 101% 8% 95 106% 104% 102% 106 102% 100% 101% 108% 109 40% 93% 99 " 101% 101% 1094 109 103% 105% 106% 2 101 22 101 22 101 22 16 10412 1049 1049 = 1087 1087 High. Low. Close. % 84 99 8% 101% % 106% 1 96% 90 89% 96% T 101% German E1 P 6%s. German7s........ Ger Agr Bank 78 Ger Gen Elec 78 Greek 78 Halti6s........ Holland Amer 68 Hungary 7%s. Ttaly 7s. .. Japanese s ... Japanese 6%s. ... Jergens U M 6s 47. lg 3 5 3 Marseills 6s. Mexico 4% 04 asntd. Mexico 4s 10 asntd Montevidio 7s Netherlands 6s 54 Netheriands 6s 7 Nord 6%s Norway 5%s. . 681952, Orfent Dev deb 6 Paris.Ly-Med 6s Paris-Ly Med 7s Paris Orleans 7s Peru 7ls.. Peru 85 Poland 8s. Porto Alegre §s. Prague 713s. Queensiand 6s. ... Rio de Jan §s 19486. Rio de Jan 88 47. Sao Paulo City 8a.. Sao Paulo 85 1936. . Sao Paulo 1950 Saxon (PW) 78 Seine 78 42. Serbs Crot Slo 8s Sweden 5%s ct Sweden 6s. ... Swiss 5148 1946. Swiss Confed 8s. . . Toho Elec Power 75 8 Tokio 55 o 1 Utd Kingm 5% 29. 4 Utd Kingm 5%s 37. 12 Utd Steam Copen 6 3 Uruguay 8s....... ¥ 90% 109 91'% 104% 99% 100 864% 97% 80 984 9% 88% 96% 110% Bd% 4% 32 29% 102 104 108% 80% 7% 101% 101% 101 89% % e i 99 108 537n 4 102% 98w 105' 103% 102 104 104 104% 6% 874 91 103's 104% 104 114% #3% 72% 118% 104% 0% 108 MISCELLANEOUS. 103% 103% 102 93% 101% 108% 103% 98% 1035 101 106% 9% 54 1033 106% 100 924 93% 99% 108'% 103% 6 9T% 101 934 100 102'% 104% 146% 103% 102% 10748 104% 100% 104% 8z 106% 94% 103 vit 944 105% 105% 104 103 115% 105% 110% 121% 101% 1027% 103 9% 95% 98% 109% 103% 104% 9% 100% 103% 101 100 984% 104% 97 102 104% 17% 106% 984 108% 110% 106% 98 100 105% 108 100% 1024% 109y 103 106% 100% 107 « 11 1074 1 111% 8 104% 108 2 104% 5 Ajax Rubber 8s.... 10 Am Agri Chem 7%s 8 Am Chain s i Am Repub deb 6s.. 12 Am Smit& R 1st bs 14 Am Smit & R 6s. 4 Am Sugar ref 6s... 23 AmT&Teltr4s.. 53 AmT&7WcltrSs.. 6 AmT & Ts 68 37 Am T & T deb5%s. 30 Am Water Wks 5s. 8 Am Writing Pap 6s 2 Anaconda 1st 6s... 41 Anaconda cv db 7s. Andes Cop 7s rets. . Armour&Co 4%s rf Armour Del 5%s. .. Barnsdall 6s ctrs Rell Tel Pa bs B. Bell Tel Pa 58 C Beth Steel pm §: Beth Steel 5138 53. Beth Steel 6: - Rrier H St 1st Bklyn Ed gen 5: Bklyn Union 5% Calif Pete 81s. Cen Leath 6s 45 cfs Chile Copper 6s 32. CinG E5%s 6! Col Gas & El 5s sta. Commonwlith P 6s.. Con Coal Md 1st 55 ConGas N Y 5%s.. Cuba Cane cv 8s Det Edison ref 6s. . Donner Steel 7s. ... Dug L & P 513 49. Dugquesne Light 6s. Est Cuba Sug 7%s. Empire G & F 71%s. Fisk Rubber 8s Goodrich 6% Good year 85 1931.. Goodyear 55 1941 Hershey 5%s. . Humble O & R6%8 Int Paper s 47 Inc Paper 68 Int T&T5%s. Kan CP&L b8 A 52. Kan G & El 68 62. Lackawa S 68 60-.. Lacl Gref s34.... Laclede G‘Spi)i; 62.. Lorillard s. .. Loulsv G & B 68 52 Manati Sugar sf 7%, Mid-Con 6% 40 Midvale Steel 6 Montana Pow 58 N Y Edison 58 44 N Y Edison 6%s. NYGEL H&P 5s. NY Tel 4%8 N Y Tel 6s 41. N Y Tel 68 49. North Am Ed 6% Nor Ohid T & L 6 Nor States Pow B: Nor States Pow Otis Steel 88 Pac Gas & El 58 Pac T & T bs 52 Pan-Amer Pete 6 Peoples Gas 5s.. PhilaCorf6sA. Phila & RAC& 168 Pierce-Arrow 8s. Plerce Ofl deb 8s. Producers t' Rf 8s. ublic Service 6s. . P Sorv Gas 5%s59. p Serv Gas 5%8 84. Punta Alegre 7s 107 Remingtn Arms 6s. 6 90% Rep Iron & Sisel 5% 121 108" 1 % Sinclair 935 984 101% 914 102% 103% = 12 Sinclair O11 7 Sin Crude OIL Sin Pipe Line bs. .. 22 South Ball Tel 68. 4 5 Southwest Bell 5a. 27 103% 103% 102 99% 101% 1084 108% 98% 103% 100% 106 97% 534 103% 105% 9% 92 934 99% 1034% 103% 9% 1064 ¥34 99% 102% 104% 146 108% 101% 107% 104% 100% 104% 82 1054 944 108 9eu 9% 105% 105% 104 1024 1154 105% 110% 121 101% 102% 103 w 9% 9815 109% 1084 104% 99 100% 108% 100% 100 98 104 96% 102 1044 174% 1054 984 108% 1104 108% 9744 100 1055 107% 100% 1025 108% 108 104% 100% 107 107 1114 103% 104% 104% 107 0% 994 107% 93% 7% 101% 90% 102% 1027 1 Sales. High. Low. Close. | Sug Est Odient 7s. ‘Tenn Elec Pow 68 Toledo Edn 1st Ts. United Drug 6s. ... U S Rub 1st rf 5 U S Rub 7%s.. U S Steel s f §s. Utah Pow & Lt 5 Vertientes Sug 7s. Warner Sug 7s 39. Warner Sug 7s 41. . West Elec 5s. ... . Westn Union 6% s | Westinghouse 7s. . Willys Ov 6155 33 | Wilson & Co 1st 6s. Winchester A 735, Youngstn S & T 6s. 2 3 2 1 Ann Arbor 4s. Atchison geu ds. .. Atlantic C L, 1st 4 Atlantic CL 7s. ... At] & Dan 2d 4s 48. B & O gold 4 R&Ocvilys B & Orefbs. H&01stbsct R&O6s. ... R&Orfimpes... B & OSwDiv5scfs R & O Toledo 4s. .. Bkiyn Manhat 8s. . Buff R & Pitt 4%4s. 12 Can } Canada South 58 Canad North 6%s. fanad North 7s Canad Pac deh ds. . Car Clinch & O 55 Car Clinch & O 6 Cent of Ga 5 Cent of Ga 7 Central Pacific 4s. . Cent Pac 1at 51 96, ChiB&Q 1strf CR&O-M3Ys. ., Chi& ETgn5a.... 128 Chi Great Weat 45. 60 CM&PacetS4e.. 4 CM&StPas2s . 00 CM&SED 4525 ofe 11 CM&StPdhds. .. CMRStPdsb 4< ofs. CM&StPovatis CM&SPeva14s3sete CM&StPridls. CMRSIP r 4l s of14 1 CM&StPove... CMESP ev 55 ofs 14 ©M & StP 6 Chi& NW oen 315 hi & N Weraf 5s. . Chi& NW 614s. ChiRyabe........ ChiRT& Pends.. CRIRT&Prf dn. ChiTin Sta 415, . ChiTinlon Sta e 44 Chi Union Sta 615s. { Chi & W Tnd on 4s SR TWURGeRY . NCCR ST rf AL Clev Tarm Sa.... Clove Term 5148 C& STt 4s29 Colo & Son 4148, . Cuha R R Ge Cuha RR7%e. .. Cuba NR6s66.... Del & TTud ist rf 4 Del & Hud ev 5835, 26 Del & Hud 514s 1 Nen & Rio G cn 4s.. 13 D Rio G West 5s...180 Frrie 1st cons ds.... 37 Frrie gen 4s. .. 84 FrieconvdsA..... 8 Frieconv4sD.....120 Frieconvext?s... § Frie & Jersay 8 n Fla O 5e 74, 1 FaRCTinew.... 5 Gr Trunk =f dh fs Great North 51s. . Gr North cen 7s. .. Green B & W dh B. Havana ERL&P 50 Fud & Man ref 5s Find & Man ay TN Central 515 M-C-C SIL&NO Tnt Rap Tran § Tnt Rap Tr 5= Int Rap Tran 6: | 'nt Ran Tran 7s... Int & G Nor 1st fa. Tnt & G Nor ad 6 Towa Cent 1st Kan City Ft 8 4s. . Kansas City § 38 Ran City S 5a. ... Kan City Term ds.. Take Shore 4= 28 T.ehieh Valen 4= Tehigh Val Tonis & N Touls & N5eB.... Louis & Nash 518, Man Ry 1st 80, . Market St 7s 40 VI EIRv& L M&StLstrfds M St P& SSMen 4s MStP&SSM5eiRetd MStP&SSM 55s M St P& SSM 63%s. MEK&T st 4s MK&T4sB MK &Tadis L MK&TprinssA. 19 MK&TS82C...... § Mo Pacific zen 4s.. 193 Mo Pac 52 1968 Mo Pac 6s 49 D. . Mo Pac 655 E. ... 3 Mont Trm ref 5= 41 1! 10 23 18 & a3 33 5 21 18 Nassau ! Ry 4= §7. New Or Term 4. NO Tex & M5sB. NOT&M51s, N Y Cent 4298 . N ¥ Cent deb 4; NYCentriSs.. .. NYChI&SIL 514 sA. NYChI&SL 5% sB. YC&StL6sA. New Hav d 4s 57 New Havenc d 8s.. N'Y Ont W ist 4s. . ? N Y Rrs 63 65. NYRys6sA65... NY State Ry 44s. 2 Norfolk & W cv s, orthern Pac 3s. orthern Pac 4s... Northern Pac 5s D. Northern Pacr i 6s Ore Short L rfs 4 Ore Wash 1strf 4s. Pennsyl con 4%s. . Pennsyl gen 41s. . Pennsyl gen 5s. Pennsyl 5s 64 Pennsyl 6% Pennsyl gold 7s. Pere Marq 1st bs. .. PCC&StL5sA.. PCC&StL5sBT75. PorRL&P 6s47.. Por RL&P 7%s 46. Reading gen 43%s.. Rio G West cl 4s. .. RIArké& L4% St L IM&S 4s29... St L IM&S R&G 4s. StL&SFpldsA.. St L &SF prin & StL&SF5%sD.. 17 StL&SFplésC.. StLS W istés StL S Wecon4s 32, StP & KCShL 4%. St P UnDep bs. ... San A& ArnPds.. Seab A L ref 4s Seab A L adj 5s.... 35 Seab A L con 6s. 31 Seab All Fla 6s. Sou Pac 4s29...... 33 | 8ou, ific clt 4s. . 27 Sou Pacific ref 4s., 28 Southern Ry gen s 6 5 10 . 9L Sou Ry 6 . Southern Ry 6 Third Ave ref 4s. “Third Ave adj 6s. .. Tol Tr L&P 5%s 30 Unton Pac 1. 98l 105% 108% 10754 93 108% 1087 9% RAILROAD. 524 98% 106% 108% 107 93% 106% 106% 99'4 98% 66 83% 102 11% 105% 102 4 101% 98l 106% 108% 107 93 106% | 108'4 99% 98% 66 | 83% 102t 1% 106 102 974% 108% 104 82% 2% " 105% 3 1% 97 984 104% 103 108% 8% 97% 914 9% 95 1054 118% 115% Re4 102% 108% t|inch #r FINANCIAL. WHEAT PRICES SEEK | LOWER LEVEL TODAY Beneficial Rains in West and Northwest Are Factor—Kansas | News More Optimistic. By the Associated Press. CHICAGO. June 14.—Beneficial rains in the Northwest and West, together with a decline at Liverpool, led to an early downturn today in the wheat | market here. Expected increase of | hedging from the wheat harvest | Southwest tended also to weaken values. Opening 1 cent to 1% cents down, wheat underwent a little further setback and then showed something of a rally. Corn and oats displayed notable _weakness, corn starting % to 7 off, and later con- tinuing to sag. Provisions were easier. Enlarged estimates of the probable vield of wheat in Kansas attracted a good deal of notice today. One Chicago expert after completing a drive in Kansas counties representing more .than 6,000,000 acres of wheat and obtaining first-hand information E to the remainder, estimated the tate production at 143,635,000 bushels, with a strong possibility of exceeding this total. Later Government figures were that the State would have 136,000,000 bushels. On the other hand, hedging sales here in the wheat market today were of on moderate amount. Houses with Eastern connections were con- spicuous sellers at times. Buying sup port for the market, however, develop- ed at around $1.38 for July, the same as the case had heen for st OATS— July ; | Septeriber 2 42 2% | December as | RYE— July September ‘) December % | NEW YORK PRODUCE. Special Dispatch to The Star. NEW'YORK, June 14.—The limited | gupply of strawberries available to- day sold well at advanced prices Hudson River strawherries from the lower districts jobbed out at 22 to 30 cents per quart, while consignments | from the upper sections realized 25| to 30 cents. New Jersey arrivals ranged from 10 to 28 cents, and Mary- land and Delaware's brought 12 to 25 cents. Lettuce from Orange County, N. ¥ in crates of two dozen Weads of the hig Boston variety wholesaled at $1.00 5. New Jersey stock sold at 75 cents ta § | Receipts of State Baldwin apples | were limited. The best grade A, 21;- | brought $4.25 to $5.00 per| i barrel, an8 off-grade $2.50. | | Celery again was in limited re. | ceipt. " California golden to self blanching, in crates of 4 to 51 dozen 9014 1023 87w R34 8314 102 103% 4% 9RY 4 1067 10614 98 60% 8714 100% . 1047 ney 64% 58'% 8% 3% 0% R8¢ 1074 13 18% B84% 4| 3801 barrels, fell"751 barrels below | 4| bales of cotton. 200 barrels of lard | Stalks. sold at $9.50 to $10.50. Florida | Iv-f‘l‘e!‘lnlv . in crates of 4 to 6 dozen | stalks, realized $6.50 to $7.50 BALTIMORE EXPORTS. | BALTIMORE, June 14 (Special)— | Exports of foodstuffs last week show a | decline in grain and flour. For the week, 93 bushels of grain was shipped, including 308,670 bushels of wheat, ‘81,938 of barley, 25714 of rve and 8,571 of corn. Flour. witn | | the previous week. Copper. with| 4,866,303 pounds. showed a slight in- | creage. Other articles included 172 | and 26 tons of pig iron. | WOOL INQUIRY BETTER. Special Dispatch to The Star. | BOSTON, _June 14.—Inquiry for | wool was #€ported today to be im- proving, although selling is still | spotty. Territory wools have had | a fairly steady call the past week. Substantial lots of half blood have ! changed hands. valued generally at | £1 per clean pound, or two to three cents lower. Increased activity | among knitters is reflected in trading | in quarter blood and low quarter | | blood in territory and domestic | ! Heece wools. | | GERMAN BONDS ARD STOCKS. | (Quoted in dollars per million marks.) | Ger Gt (w In) be 1914-18. 950.00 1000.06 | Hamburg 498 1919, . . 135.00 150.00 (Quoted_in dollars per thousand marke.) Ger Gen Elec 4%8s pre-war 23.04 00 Ger Gen Elect 4198 1819 | Berlin 4s pre-war {Hamb 3s. 336 & 48 pre-war Hamburg Amer Line 4ie rman | rman ! Prussian Consols | Krupp 5e 1921 | Dusseldorf 4s p! | Eranifort a- Munich 48 pre Badische Anilin. . . | A"£°6 " (Ger. Ge Eieci Commerz and Privat Bank Disconto Gellschaft . . Dresdner Bank. . Deutsche Bank Darmstacdter Bank Mercur Bank Vienn: | Hesden Chemical. . Aust A E G (Gen Eisc | Berliner Handels. 526 2.00 2800 - | FOREIGN EXCHANGE. | (Quotations furniehed by W. B. Hibbs & Co.) | Nominal Selling checks Kold value. $4.8665 1 | London. pound Montreal. dollar Paris. franc. ... Brussels, franc Reriin. M Rome. lira. Zurich, Vienna. crown... Budapest. crown..” | Prague. crown Warsaw. zloty. Copenhagen. ¢! Osio. - crown. Stockholm. ecrown NEW YORK, June 14 (#).—Forelgn exchanges heavy: quotations (in cents): Great Britain, demand, 486 | 3-16; cables, 486 11-16; 60-day biils on | banks, 482 5-16. France, demand, 2.76: cables, 2.80. Italy, demand, 3.57; cables, 3.58. Demand — Belglum, 2.8713 Ger- many, 23.80; Holland, 40.14; Norway, 8; Sweden, 26.77; Denmark, 26.53; Switzerland, 19.36; Spain, 15.63; Greece, 1.24%; Poland, 9.00; Czechoslovakia, | 2.96: Jugoslavia, 1.76%; Austria, | 14.125; Rumania, .43%: Argentina, 40.43%: Brazil, 15.25; Tokio, 47.00: hanghai, 72.81%: Montreal, 100.10 5-16. FEDEBAE—IAN'D BANK BONDS. (Quoted by Alex. B . Closing.) Rite Sty T SO e Pcla , a2 FPEEFPERPIEE IS 7 3 22 32333233 3 838222233 EEEEEHS % 233 D rosesae e e et b ettt bt o e e .0 2o AR !. 8255283330550 SR32ISIII2833! P22 PDDD S 3 3 CALL MONEY FIRMER. NEW YORK, June 14 (#).—Call money firmer; high, 4; low, 4; ruling rate, 4; closing bid, 4; offered ::w?‘ last loan, 4; call loans against pt- ances, 3%. Time loans steady; mixed oollateral 60-90 days, 4a434: 4-6 months, 4%4adls. Prime mercantile paper, 3%ad. | 1 9% 99% 99% 4 102% 102% 102% 14 103% 103 103 14 99% 99% 99% 10 108% 103 103 56 104% 104% 104% 26 4% T4% a4 | 11 100% 1004 100w | 2 86 8% 9 Union Pac 48 27 Union Pacev 6 Virginia Ry 1st 5s. Western Pacific ‘Wisconsin Cent 4s. offering cent thereafter to redemption or | Merchants’ Tra LARGE LAND BANK ISSUE OUT TODAY |Offering Made of $60,000,- 000 10-30-Year Bonds. Pay 4 1-2 Per Cent. BY E. C. STONE. As forecast {n Sunday's Star, publie is being made today of a new $60,000,600 issue of 10-30.vear Federal Land Bank 4% per cent bonds at a price of 101 and interest to vield over 414 per cent to the re deemable date of 1936 and 4% per ma turity. Of the proceeds of the netw 4% per cent issue approximately $16 000,009 will he used to refund 415 per Tent Federal Land Bank bonds' new held by the United States Treasur: thereby bringing ahout a saving the Federal Land Banks of about £100,000 a vear in interest chargee. ‘The new bonds are in denominations varying from $40 to $10,000. The bonds are being offered to the public by a country-wide group. com. posed of the 12 Federal Land Banke investment houses, institutions and upwards of 1,000 dealers. The hanking group is headed by Alex Brown and Sons of Baltimore, Harris, Forbes & Co., Brown Brothers & Co.. Lee, Hig ginson & Co., tha National Citv Cn and the Guaranty Co. of New Tork. The bonds are exempt from Federa!. State. municipal and local taxation are dated .lulyv 1926, and are aue July 1, 1936, Land Banks Grow Rapidly. Figures made publie in connection with the new offering show that in eight years of active operation the 12 Federal Land Banks have heer built up until on April 30, 1926, their capital was $35,166,340, reser 62.500; undivided profits, $4.955 321 total assets, $1.114,694,869. Ever bank shows a surplus earned from operations The holdings of the TUnited States Government -in the capital srock the Federal Land Banks have heer reduced from $9.000,000 at the of the inauguration of the system to about $1.200.000, as of April 3 1926. During the same perind Farm Loan Assoclations ac proximately $53.000,000 eapital part of the proceeds of wh used to retire stock owned by Government as required b ¥Farm Lgan Act The United Government has purchased and holds over §100,000,000 Federal Land Bank bonds. The Supreme Court States has held that were legally created as banking system of the 1~ nd that the bonds issu banks are instrumentalities United States Govern exempt from Federal pal and local taxation The bonds ar United States Treasury for Government deposi cludi postal savings funds, and the Federal farm loan act provides that the bonds shall be lawful investments for ail fiduciary and trust funds under the jurisdiction of the United States Gov- erment. aj ock was the of the United thesa hanks art of the ted States by the of ihe and are’ e, munici- s securi Prices Higher on Exchange. Prices advanced on the Washingtor Stock Exchange today. when the week's trading opened Potomae Electric Power preferred came out at 10813; Washinglon Gas Light changed hands at 681z, 20 shares of nsfer and Storage pre- ferred brought 10113, and 30 shares of Peoples’ Drug Stores preferred sold at 103, which is back at the hi point for the year on the local boa One share of Mergenthaler Linoty sold at 10413 and 30 shares of N tional Mortgage and Investment pre. ferred sold at the prevailing price of §13. The bond division was fully as active as the stock market An odd iot of Capital Traction sold at 100%. the issue later selling at 101 on another small deal. Chesa- peake and Potomac Telephone 5 at par Washington Gas 6s came out at 104% om a $2,000 turnove 1- way and Electric ds sold at the same corporation’s General Refunding fs were out at 1031y ital Traction 3s registered 101 f small lot. < sold wh nd Convention List Increases. The list of delegates and guests to the District Bankers” convention at Hot Springs during the last hal the present week is still growing, Chairman H. (. Hoskinson of the transportation committee reported this morning. It has now Mr. Hoskinson knows ¢ applications that are coming in that it now appears certain that number will reach 243 The train tickets and Pullman cou pons will be delivered tomorrow or early Wednesday to those who are £oing on the trip. Most of them will be given out at the banks to their own delegations. It so happens that the annual con vention of the Virginia Bankers' As sociation will be in session at Roanoke at the same time that the Washington bankers are meeting at Hot Springs If the meetings did not conflict, sev- eral Washington bankers would at tend the Roanoke sessions. They have done so in the past. It is expected however, that 20 or more \Virginiz financiers will drop in on the Hot Springs convention before it closes. John M. Riordon, chairman of the hotel committee, leaves for Hot Springs tomorrow to make the final arrangements for hotel accommoda- tions for the Washington parts vanest E. Herrell, president of the International Finance Corporation. he- lieves he is the only banker in Wash- ington who has been to every conven tion the association has held. ‘Who Owns the Washington Bank: One of the best chats prepared bv the District Bankers’' Association in its present campaign to explain the relationship between the Washington banks and their customers appears in the advertising columns of today 't/ Star. It not only explains clearl: who owns the local banks, but it adds some important information on the subject of bank dividends as well as explaining away a common fallacy in connection with these dividends. To. day’s talk brings out the rather sur- prising fact that bank depositors often receive more in interest than stockholde: receive in dividends. This chat No. 2 is well worth the brief time it takes to read ft. Hot Wave Booms Local Trade. ‘Washington merchants engaged in the clothing business were happy to. day, as the hot wave started a run on « Palm Beach suits. Other Summer goods were in equally lively demand. The thermometer in the kiosk at Penn sylvania avenue and E street regis- tered 95 at 3:15 yesterday afternoon, and was climbing up toward that same point at noon today. The straw hat dealers were happy, and the ice men and soda fountain proprietors also smiled pleasantly as they mopped off the perspiration. People who have been telling local business men that there is not going to be any Summer this year have not been in sight for several days. . FISHER'S PRICE INDEX. NEW HAVEN, Conn., June 14 (Spe- . cial).—Prices, 153.6; purchasing power, | 65.1; Crump's, 1386, Irving Fishery Yale economist. reports. = Covyright,, 1926.) ’