Evening Star Newspaper, June 21, 1926, Page 24

* FINANCIAL. FINANCIAL. BANKERS RETURN FROM CONVENTION Officials Enthusiastic Over Results Obtained From Hot Springs Meeting. BY EDWARD €. STONE. Arrival at the Union Station at §:55 | this morning brought the last stage of | the Distriet of Columbia Bankers' Con- | vention to a. happy conclusion. Many | bankers declared today that they con- sidered it the best convention vet held when viewed from the standpoint of 24 ADVANGE IS BOLDER IN'STOCK MARKET Public Element Is Playing More of Part in Rise in Today’s Trading. THE EVENING STAR, WASHINGTON, D. €. MONDAY, JUNE 21, 1926. = INOND MARKET INTRADING TODAY Sales. High. Low. Clase. 109 109% | 1 o SEEw |Week End Weather and Crop 103 102% 107% 107% 4 14| Quiet Strength Displayed in, Advices Are Factors in the Decline. f 1027% 1027% 884 984 EE; Dealings Today—Two Big Issues Marketed. 105% 105 Hartman (2%).. & 108 108% Househ SENERT EsT ousehd (t315). BY GEORGE T. HUGHES. 107% 107 93% 934 106% 106% 1064 Houston o1, | Howe Sound (3) 343 | Special Dispatch to The Star. 7% | HudsonMan (2% | Bl DN ey 11915 | Hud Man n((tfi‘)‘.‘ 22 i *‘“h S‘OHK. S do;l‘!-"'g“’f; 223 | Hudson Mo(3 1) rength characterized e 89% | Hupp Mot 56 |bonds at the start of the week. The e 224 | volume of trading was not heavy, but 11 Cent pf (6). 122 |prices were firm. Perhaps the most 25% | significant event of the day was the Indep O11 (1) Indian Refin 10 |prompt smale of two new public utility cent UNITED STATES. | (Sales are in $1.000.) Sales. High. Low Close. Lib3%s.... 463 101 25 101 15 101 22 Lib 18t 4% 102 20 102 20 102 20 Lib2d 4%s. 100 30 100 27 100 28 T4b3d 4%s. 163 101 14 101 13 101 13 Lib 4¢th 418 188 1034 1032 1032 _ UR3%s.... 410129 10124 10129 US4s1944.. I1 10411 1049 1049 US4%s62. 17 10810 1087 108 lu FOREIGN. 1 Sales. High. Low. Close. Argentine 55 19 89% 89% B89% Argentine 8sJu 9. 18 89% 99 Argentine 6s Oct 59 34 9uu 98% | Arzentine 6s A.... 25 $9% Argentine 6s B 18 98% Argentine 7s. 12 Wilson & Co 1st 6x. Australian bs. 29 99 e A Austria Ta. e TounsNth maR Bank of Chile 145, 11, Rank of Japan 6s.. |2 Relgium 6n. h Bell Tel 5s.. 0 Por Rico Sug 7s Southwest Bell 5s. Sug Est Odient 7s.. | Tenn Elec Pow 6s.. Toledo I2dn 1st 7s. . | United Drug 6s. . 'S Rub 1st rf 58, | US Rub 7168 U S Stael s f 58. . Utah Vow & Lt Va-Car Chem Tx. | Vertientes Sug 7s Warner Sug 7s 41.. West Elee bs Westn Union 6143, Westinghouse 7s. . Open. High. Ta BW 9% 9% 9% ) 115% 115% 116% 126 123% 121 8% 28% 21% 65% 24 434 53% 8 9% 115% 1247 121 88 TR Low. Close Open. High T 5214 b2l 109% 18% 21% 7% 22 | Gothm 8 H (234) Gotham pf (7)., Gould Cou (2) . Granby Consol. . | Grt North.pt (5) | Gt Nor ore (1%) Green Canan Guantanamo | Gulf Mo & N 24 Gu M & Npf ( ‘12w | Gult States § (3) 3t Ahumada (+1).. | Ajax Rubber. . Alr Reductn( Allted Chem (4). 125 AllledCm pf (7). 121 Allis Chalm ().. 88 | Amerada (1.60). 28% | Am Acrien] Chm 21% | Am AsriChopt.. €8% | Am Reet Sugar. . | Am Br Bov E1(2) Am Can (2) Am Car&Fdy () Am Chain A (2). Am Chicle (3).. Am Drue. Am Express (). Am & For Pow. . | Am & Fo P pf(7) Am Hide & L pf. A Tce (110). At Internatl. . 2230 99 107% 8% B3% 1014 111% 106% 97% . 103 25 104% 104 RAILROAD. ; Atchison gen 4s... 13 92 Atlantie C L cl 4 1 92% BY STUART P. WEST. Special Dispatch to The Star. NEW YORK, June 21.—The course of the stock market today plainly enough fitted in with the idea that | Wall Street was in the midst of a forward swing, which began a month and a half ago Nothing happened over the week end of sufficient importance to in- y the Assnciated Preas. q YORK, June 21 opened_ steady. 103% | tober, 16.37; December, 16.40; Januar; 97% | 16.34; March, 16.46. The market w 103% | lower in today's early trading on re 104 | newed liquidation, Southern and lo selling which appeared to be due to 92 | easier Liverpool cables and a generally 92% | favorable interpretation of over-Sun- —Cotton fu July, 17.75; Oc- 26 91 91 4% 44% 134 136 26% 6% 12% 5 924 fluence the movement of prices. But there were two features which show- ed clearly from the beginning of husiness One was that owners of investment capital, anxious to employ their funds. saw that the highest class securities were selling at what were almost prohibitive figures. Therefore they were willing to go into stocks and bonds of a more speculative rank. | Public Coming In. | The other feature was that the | public had seen prices going up per-| sistently for a month. that it had | heen coming in again cautiously, but | that finally the spectacle of continual advance had proved too much. Today the outside element grew bolder. It | played more of a part in the market | since January. i Predictions that rail shares and oils d lead a tresh advance were borne Denial of the merger rumors, had put Union Ofl of Califor- up last week, caused a sharp re- | action in that stock, which was after- | ward partly up. But this was | an exception. California Petroleum, Marland, Phillips Petroleum, General | It. Pan-American B and Pure Oil were strong. ils there were several notable features. One was a new high wd for Canadian Pacific. Another a jump in Delaware and Hudson. Ivery time this stock shoots forward | there is talk about the Delaware and Hudson stoc olders getting their equity out of the coal properties. | is of the carriers traversing the | hwestern States were in demand. no except that they have a which AmLaFr(1)... 12% Am Locomot (8) 105% { Am Loco pf (7). 1174 Am Metals (4).. 524 Am Po&Lt (g1). B8 Am Radiator (4) 109% Am Safety R (3) 48% Am Ship & Com. 9% Am Sm & Ref (7) 128% AmS & Rpf (7) 118% Am Stl Fdys (3). 42% Am Sugar (5)... 70% Am Sugar pf (7) 100 Am Sumat A cts 28 Am Tel & Ca (5). 33 Am Tel & Tel(9) 140% A Tel& Telegrts 6 Am Wa Woc1.20 57% Am W W Ist (7) 104 Am Woolen..... 24% Am Wool pf (7). 74 Am Writ Pa pf.. Am Zine pf. . Anaconda (3).. . Archer-Daniels. ArmourDel nf(7} Armour of TII(A) Armonr of 11(B) _Asso Dry G(2%) Atchison (7).... 135% Atchison pf (5). 99% AtIBIrm& At... W At1C Line(+915) 219 AtIGuIf & WI... 44 Atl Gulf&WIpf. 43% Atlantic Refing.. 120% Austin-Nichol; 167 Raldwin L (7).. 117 Bald Loco pf (7) 109% Ralto & Ohlo(5). 96 Balto & Oh pf(4) T71% Bang & Ar (3).. 39% Barnsdall A (2). Barnsdall B (2). vecord dividends Dbehind | them nably sure of their | resent prthern pre- | orthwestern wveve | York Central | Read. | Union Pacitic | Wabash Issue Strong. | Kansas City ern got up a point he Wabash issues and so were St. Missouri Pacitic zh Valey at one | points. (uipment section | ve made a further gain of nearly 2 points. Baldwin Loco- niotive sold above its best of last week. There were further advances in eral Railway Siznal, Westinghouse Air Brake and {’ullman. The buying move- ment continued in Postum Cereal and in Allied Chemical. American Smelt- ing. American Can, Corn Products and Pathe A all did better, the last-numed rates, were Louis, Francisco, and Roek Island. Leb time was up nearl In the American 1 Bayuk Cigar.... Beech-Nut (13). Belding Bros(3). Bethlehem Steel. 41% Beth St pf (7).. 100% Bloominzdale. 29 Bloom:inzdle pf 7 104% Booth Fisheries. 61§ Booth Fish 1st.. 45 Botany A (4).... 25 Briggs Mfg (3).. 28% Bkla Edison (8). 142% BkIn-Mn Tr (4). 64% Bkin Un G(t11). 81% Brown Shoe (2). 31% Brunswick Balk. 25% Brunswick Ter.. 107 Burns Bro pr(7). 102% Bur Add Ma (3). 534 Bush Terminal.. 30% Bush Ter de (7). 2% Butte Cop (50¢). 5 Butte&Super(2). 10% Butterick. . 8 1% Byer & Co. 41 Calif Packing(8) 139% up oter 2 points. | Callahan Zine. .. Markets at a Glance 21 (). —Stocks and oil issues YORK, June cauipment stronz s firm higher. oils active. ¥ French francs r heneficial rains spot situation. Cof- | jan markets. Cotton lowe: lower | bearish Hogs Wheat Corn Cattle CHIICAGO. cash markets wvisible supply steady to higher. WOOL PRICES FIRMER. | Can Pacific (10). Calif Petrol(2).. 34 1% 67% 162% 104% 107% Calumet& Ar(6). Case Threshing. Cage Thr pf (7). Cent Leather. 10% Cent Leather pf. 56'3 Cen Ry NJ(112). 295 Century Rib M.. 19% Cantury R pf(7). 85l Cerre De P (4).. 65' Chand-Cleve. . Chand.Cle pf(4). Ches & Oh (¥12). 132 Chi & East Il... 33% Chi & East 111 pf 424 Chi Great West. 9 Chi Gr West pf.. 22% Chi M1 & StP... 11k Chi Mil&StPpf 19 107% 117% 52% 587 111% 48% 0% 130% 118% 42% 0% 100 28% 33 141% 64 | Am Tobac B (8). 1167 1167 583 104 26% 4 136% 190 k] 219 45% 44% 121% 16% 118% 109% 96 1% 40'% 27% 4% 41 61% 2018 42% 100% 29 104% 6% 45 25 28% 142% €44 81% 31% 26% 11 102% 934 30% 924 5 10% 31% 41% 140% 35% 1% 69% 164% 112% 108 104 56 295 21 86 66% g 387, 42% 9 22% 11% 116's 109% 954 % 3942 -| Mar! Indian Refgotf; Inspiration (2).. Interurb Rap Tr. Inteonti Rub(1). Internat Agri. Int Bus Ma (3) Int Cement (4).. Int Cement pf(7) Int Com Eng (2) Int Harvser(8). . Intdtch pe(3.20) Int Mer Marine. Int Mer Mar pf. Int Nickel (2). Int Paper. .. Int Paper pf (7). Int Tel & Tel (6) Int T&Teleg rts. Intertype (t11) Jones Bros 1ea Jorden Mot (3).. KCP& L 1st (7) Kan City South. Kan C So pf (4). Kansas & Gulf. . Kayser J (3). Kelly-Sprin Kennecott (4). Kinney G It (4). Kresge §8(1.20). Kresge Dept'S. . Lago Of1 & Tran. Lambert (3%).. Lee Tire & Rub Lehigh Val(31) Leh& ink stf(3) Life Sav (1.60).. Liggett & M (+4) Tiz & M B (14). Lima Loco (4).. Loew's Inc (2). Loose Wiles. Lorillard(2). LoutsGasA (1 Loulsianz Ot Lon&Nash(+6 M'CroryR(15.60) Macy HR & Co. Magma Cop (3). Mallison & Co Man E1 Sun(414) Maracaibo Ofl. ., Market St prior. and O] (4). | Marlin Rock (2). | Martin-Pary(2). Mathleson (4). . May Dept 8t (5) Mexican Seabd. Miami Cop (19.. Mid-Continent. . Middle States. .. Miller R ctfs(2), Minn & St Lonis. Min St P & SSM M St P & SSM pt Mis Kan & Tex. , Mo K & T nt (8). Miszonri Pacifie. Missourt Pac pe. Montana Pow (5) Montcom Ward. Moon Mot (3) [ Aathr Lods(750) Motor Met (3.60) Motor Whi (2)., AMurray Rody. Nach Motors. ... t Risenit 1414 Nat Cach Rez(3) Nat Datry (2) i Nat Dnt Stores. Nat Distillers. .. Nat Distillers pt Nat Enamel & §. Mack Trucks (6) | 1114 1% | 8 22% 45% 16% 16 4T% 68% 103% 124% | 44% 66 39 3% 56% 65% 11% 324 46 66 W 40% 14% bok 1 b55% 23 28% 6 kLY 861y 384 214 8in 81y 7 62% 38 117% 117% 38% _ 23% 18% 136 1 87 161% 1 30 381 23% 18%, 35 87 117% 119% 01% 22% mortgage bonds with 412 per | coupons, making four in all with so |low a rate to be marketeg since the | war. 1t was a striking @mmentary on the strength of the investment de- ! mand that these low-ylelding bonds, |$9,000,000 Cumberland County Power |and Light 41,s on a 4.85 per cent | basis and $9,635,000 Ohio Power 4198 | on a 4.95 per cent basis, should be o | well taken. That the earlier 414 per | cent tility issues had been well dis- | tributed in evidenced by the fact that | | the New England Telephone and Tele- graph sold today within !s of a point | of the offering price. | Foreign bonds Aagain absorbed a large proportion of trading interest. German industrial and municipal | descriptions were nearly all strong. with the Rhine-Elbe 78 making a new high record. Rhine-Westphalia 7s ran up nearly a point and there was | active buying of German General Electroc 6128, City of Greater Prague 7138 at par were at a new high price | and the Japanese bonds held their | gains of the week before. ‘m%"lr?:h issues, on the other hand. | | flnctuated uncertainly, but _over a «mall range, and Italian 7s. after duplicating their_record low of 8814, | | rallied fractionally. Mexican bonds were strong on the approach of July | |1, when the first interest payment | Will be made covering a part of the |arrears. In United States Government is-| sues the feature was another new high for the vear in the tax-exempt 3158 The general list of first-grade rallroad mortgages was little changed, although Chicago. Burlington —and | Quiney 55 at 105 duplicated their best previous pric T honds were in good demand Sinclair 6128 crossing 94 made a new top. while the 7s duplicated their bet previous price at 9815, buying in hoth Mstances being based on the high investment vield. Sinclair 6s also « higher. “n )l‘)‘:;-) local tractions the feature was the advance of a point in Third Avenue adjustments. The is doinz the largest gross busi itx history and earning all interest. including that on the —adjustment bonds. International Telephone and Telegraph dipped below 109 for the first time since the announcement was made of an additional offer of stock, but later rallied. Some of the sugar, bonds did better, among them Cuba Cane 7s. FISHER'S PRICE INDEX. NEW HAVEN, Cofn., June 21 (Spe- cfal).—Prices, 152 3-10; purchasing power, 657-10. Crump’s, 1381-10, Irving Fisher, Yale economist, re- ports. Simmons(12.26) Stmms Pet (1).. Sinclalr Onl. ... inclatr pf (8) Skelly O1142)... Sou Cal Edison. . South Port 8 (8) Sou Dairfes A(4) Sou Dairles B... South Pac (8)... Southern Ry (7). | South Ry pf (5), 5o% | [StdOUNT (1).. 44% | f Belgium 6%s Belgium 7s. Relgium 7% s Bolivia 8s. . Bordeanx 8s. Brazil 7s. Brazil 8s. Canada Fs 1931 Canada bs 1982 Canada 5%x 19 Chile 75 1943 Chile 851941 Chile 851946, ... . Chinese Gov Ry a. Con Pow Japan 7s. Copenhacen 5%s. . Czecho 758 rots Crecho 85 19 Czechq 8s 1052 ct. . Danish Munie f= A Danish Munic < B. Denmark 6x. ... DET5%s Mch 53, D E In 518 Nov 53 Dutch Fast T 68 47. G4 Dutch East 1 6s 62. &7 Finland « f 65 4 Finland Ts.... Framerlean 7148 French 7s. .. French 7%s. French 8s. .. o German EI P §%s. German 7s. 5 Gor Agr Rank 7s Ger Gen Elec 7s. Halti6s. ......... Holland Amer fs. . Hungary 7%s. . Ttaly 7, Japanese 4« Japanese 615 Jerzens UM 65 47. ToanBe.. . ... Marsel < B2 Mexico 4s N4 asntd. 30 Mexico 4 10 asntd 70 Mexico Seassented 23 \ontevidio 7= « 3 Netherlands 6= 54 2 Netherlands 6: Nord 614s. . Norway Stge. Norway 61943 Norway 65 1944 .. Norway 651952 . Orfent Dev deb 6s.. Paris.Ly-Med 6s Paris-Ly Med 7s Peru 714 Peru 8s. Poland 6 Poland *s. Porto Aleere §s. ... Prague T4s....... Rio de Jan ¥s 1948, Rio de Jan 88 47... 1 Rio Gr Do Sul 8s... Sao Paulo Citv 8s.. Sao Paulo 8 1936. . Sao Paulo 1950 . Saxon (PW) 7s. 105 101 101 110% 110% 104% 104 104 106 106 104 104 106 4 1 16 10 21 10 10 12 9 100 105 105 Serbs Crot Slo 8s. . Sofssons fs. .. Sweden 5155 et Sweden 6s. . Swiss 515« 19 Swiss Confed 8s Toho Elec Power s 17td Kingm 518 37.134 Uruguay 8s 19 MISCELLAN Ajax Rubber 8s.... 7 Am Agri Chem T%s 16 Am Chains i Am Repubdeb6s.. 5§ Am SmIt& R 1st 5s 13 Am Smit& R 6s. Am Sugar ref 6s. 109% 109 EOUS. 10315 102 104 101% 100 1004 1073 103 103 100 104% 101% 102% 1085 108% 0% 99 ragra 101 110% 110% 1044 1064 86% 101% | 103% 102% | 1034 109% | 104% 101% 100% Atlantic C T, 1st 4s. Atlantic C L, 7s, b & O SwDiv 55 cfs B & O Toledo 48 Rklyn Manhat 6s. . Bff R & Pitt 4%s. Can Nat 415554, . Canad North 6%s. . Canad North 7s. . .. Canad Pac deb 4s. Car Clinch & O 6, Cent of Ga 6 Cent Pac 1st 5 Ches & O zn 4 Y Chi & Alton 3148 ChiB& Qgn 4=58. Chi B& Q 18t rf Bs. CB&Q-TN3%s CB& Q-1 div 4s Chi&ETgn§ Chi Great West 43 & Puget S 4s. . & St P 4s25 0. CM&StPdeb 4z cfs. CM&SPcv4 14 s32efc CM&StPgndlss. CM&StPriqy CM&StPevbs. CM&SP ev bsc Chi Un Sta 414x. .. Chi Unfon Sta 58 44 Chi & W Ind en 4s. CCRSET, rf6s AL Clev Term . C& S 1st 4m 20 ‘uba R R 5s. ba N R 65 6 Del & Fud 1=t rf 48 | Del & Hud cv 55 35. 32 Den & Rio G cn 48 1 D& Rio G imp 5 D Rio G West bs Errie 1st cons 4s. Ere zen 4s irie conv 4s A Erfe conv 4s B. Erfe conv 4s D Erie & Jersey 6s. Frie Genessee R 6s. {FlaEC5274 Fla EC 74 new. Grand Trunk 7s Great North 58 Great North 514s. Gr North gen 7s. Grean B & W db B. Hnd & Man ref 6s. . | Hud & Man af §s.. 111 Centra) ref 4s. . | 111 Cen 4253 -C-C SIL&ENO nt Rap Tran bs. .. Tnt Rap Tr 5 stpd. Int Rap Tran 6s... | Int Rap Tran 7 Kan City Sbs..... Kan City Term ds.. Lake Shore 4s 28 Take Shore 4s 31.. | Lehizh Valen 4=.. Louis & N uni 4s. 4 934 2 115% 834 | day weather and crop advices. 106% | _The opening was steady at a decline 7314 | Of & to 15 points, July soon sold off 81 | to 1767 and December to 16.33; net 96w | losses of about 16 to 22 points on the 9814 | Reneral list, 93'% 105% 13% 91's 96% 98% 1034 1027 107% 913 101% RO% 7% ol's 950 17% 1157 There was some trade 108% | Pricing at the decline as well as profit. | 102% | taking by recent sellers, hut the mar- 108 | Ket was within a point or two of the 91% | lowest around 11 o'clock. 1014 Private cables said that Liverpool 80% | was lower under lquidation and sell- 87% [ Ing on favorable weather reports. 1% Reports received here from Houston aid the first bale of the new crop had | reached the market there on Saturday and would be sold at auetion. i extended to i766 for or October following 108 108\ | Publication of the Eastern belt fore: cast, or ahout 17 to 26 points net! o6v. 96% | 10Wer on the general list. A little more §8% 8% (Tade buving appeared to develop 921 s2v | around the 161 .cent level for early 105% 106 | NeW crop deliveries, however, and 85's 854 | Lhere was also some covering later. 914" 924 | Prices steadied up 4 or 5 points from 734 a1 the lowest in consequence, and the ta cary | market was quiet ar midday 52 New Orleans Quotations. S W ORLEANS, June 21 futures opened steady. 16.06; March, 1609 hid; October, 16.0%; December, WHEAT PRICE EASIER 1075 107% | 2% §72% the addresses, discussions, helpful re ports and constructive action. The address of Merle Thorpe, editor of Natlon's Pusiness, is still coming in for much favorable comment, ona banker insisting that this speech alone was well worth making the trip to Hot Springs to hear, even if the con- vention had offered nothing else. His graphic picture of present business trends, as well as of recent sweepin changes in methods of dealing in a classes of commodities, hrought out in a new light the amazing competition that many industries are facing Gov. George L. Seay's references to the accomplishments of the Federal reserve vstem drew vigorous ap plause from the delegates. He stated that the war period had been passed a sufficicnt length of time, so that the Federal reserve has algo revealed its great value under normal conditions His assertion that. in his opinion, the system had proved that the charters merit continuance met with most hearty approval. Depew Just Misses Convention. Chauncey M. Depew. who was stopping at Virginia Hot Springs a year ago while the Washington bank ers were there and who also made a brief apeech at the family dinner, just missed the gathering this vear. He arrived at the Homestead on Sunda morning for a five-week stay. When seen in the lobby the distinguiched {after-dinner speaker and former Sen- |ator appeared to be in excellent health, although he seems more mod- erate in his movements than he did ON FOREIGN-CABLES 874 874 91 86 B6% 074 874% 102% 102% 86% 87 1032 103% 104% 1043% 99 99 95 By the Associated Pre CHICAGO. June 21.—Wheat values took an early swing down-grade here today largelv in svmpathy with the easiness in the Liverpool market and on local and commission house pres. 961 sure, little attention being given by 97 881 | the trade to reported rains in the outhwest After startin at 93 8% |changed fgures to 7 off, whent 111% 112 |values here underwent a further de. {cline all arcund. Corn and oats fol- lowed in the wake of wheat and on | Drospects of better weather over the corn belt. that cereal starting at the \same as Saturday's close to % down, [and then suffering a general add tional setback. Provisions were in- fluenced by the weakness in grains Trade in wheat was limited at the outset. Many of the traders were missing when the first gong sounded, because of traffic congestion in the downtown and surrounding districts Thousands of persons trying to reach Soldiers’ Field on the lake front. where e Eucharistic Congress o < were being held, e who came straggling into the pits some time after the market opened. Weakness of the Liverpool market was reflected on thie side of the Af lantic. The market there was affected by reports of larger world shipments ind an increase of the amount of! wheat on ocean pasgage i There was some fair start by houses with F; tions. ~ The market lacking and the attained. 109% 109% | 109% 10915 | 9974 100 99% 59% 15% 1017 102 elling at the tern connec. found support decline was easily Sentemver Dererbe Julete. 0. . September | Decemlar alts { delaved brokers, | vear ago. He was the object of special interest during luncheon, but had" his dinner served in his suite. i The convention committee made an leffort several weeks ago to get Mr | Depew to go to Hot Springs a day earlier and address the meeting. hut ihe replied that he could not change lhis dates. After his Virginia stav ihe and Mrs. Depew will go to Lennx | Mass., for five weeks, 2 {1t will be recalled | Rockefeller, jr.. also tocal bankers last year | Some Personal Sidelights. | Charles J. Bell, president of the American Security & Trust Co., was :l!w dean of Washington banking offi | cers who attended the convention. Mr. | Bell added much daignity to the oceca- |sion and was honored by being made | chairman of the resolutions commit- itee. He was very regular in his at. Ilendance at all sessions. I. A. Fleming came in for much special recognition during the session. | He has attended almost every conven. |tion of the asscciation. The so-called { luncheon _group of the association pre- | sented him with a handsome silver coffee set, at the family dinner. Vic- tor B. Devher made the presentation Mr. Fleming also received a speefal for c ord in the pinning contest Clifford K. ¥ yYman, whose 31 car s of the local hankers aused reams of Jaughter at the annual din innr. epted an invitation ta the ¢ | vention. He surprised his with some of his golf scores. Election Interest High. _ There was much interest in the elec tion of a secretary for the coming vear. The other offices were filled by rotation. Wilmer J. Waller. the new | secretary, was chairman of the gen- eral convention committee a vear ago, and did very efficient work for the as- that John addressed n the n friend CMil&StPetfs 114 C MiI&StP pfcfs 18% Chi & Nwa (4).. T4% Chi R1& Pac. Childs (12.40)... 63 sociation. { First steps were taken toward an important amendment in the constitu- | tion which would Keep the retring 04 N i September 1607 | 5td Ofl NJ p£(7). 118% | Sterling Pro (5). 22 | Stewart War (6) 3 | Stromberg (8). .. Nat Lead ). .. Nat Lead pf (7). Nat Po& Lt(40¢) Nat Ry Mex 2d.. 1T AmT&Telerds. ,,5"Am1‘&'rcnrss,. 67 |AmT&Tst6s. AmT & T deb5Y%s. 98% Special Dispatch to The Star. 1034 STON, June 21.—Improved in- for pulled wools was the out- L & N 415 2003. Louis & N: Louls & 547 g incident in the local wool at the start of the week. Prices were slichtly firmer. A con- siderable movement § ¢ reported and some moving. Demend 1 Jow and medium grade material, eom- ing chiefly from &porting goods manu- facturers. Ohio e warter hloods sold at | 13 cents greas is and territory | quarter hloods 80 cents. BAR SILVER PRICE. NEW YORK. June 21 (®).—Bar sil- | ver, 633 Mexican dollars, 30%. - CARNEGIE STEEL CO. NEW YORK, June 21 (#).—Plants of Carnegle Steel Co. in the Youngs. town district are operating at 90 per cent of capacity, 10 per cent above the average for several weeks past. supers are still brisk for BUTTER IS FIRM. CHICAGO, June 21 (®.—Butter | firm: receipts, 16,465 tubs; standards, R s, 615, tubs; cream- extra firsts, 3813;| BIG SIGNAL CONTRACT. YORK, June 21 (Special).—A for automatic train control fmvolving some $5.000,000, has arded to the General Railway by the Chicago and North- ern Railroad. BAN‘K CLEARINGS. The Star. Special Dispatch NEW YORK, June 21 —New York bank clearings, $512,000,000. New York bank balances, $113,000,000. New York Federal Reserve Bank credits, $99.000,000. Boston bank clearings, $70,000,000. RUBBER UNCHANGED. 8pecial Dispatch to The Star. NEW YORK, June 21.—Crude rub- her, smoked ribbed sheets, was un- changed at the noon quotation today of 4415, This compares with 47% a month ago and 74 a year ago. - FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibhs & Co.) Nominal Selling checks gold value. _ today. --$4.8065 $4.866; REK it London Mantreal. pound. . dollar Odlo. crown. ... Stockholm. crown NEW YORK, June 21 (#).—Foreign exchanges strong. Quotations (in cents): Great Britain, demand, 4.86 3-16; .86 11-16; 60-day bills on bank: France, demand, 2.87; cables, 15:,Italy. demand, 3.60; cables, 3.61. Demand: Belgium, 2.8815; Germany, 23.80; Holland, 22.1 Sweden, 26.821 61; e, Czechoslovakia, 1.77% Austria, Rumania. 43:% Argentina, . 15.62%: Tokio, 46.811; 272; Montreal, 100.125. Poland. 9.00; Jugoslavi; Congoleum-N. | Cont Mot (80c).. 32% 22% Chile Cop (2%). Chino Copper Chrysler pfA(8). 102 Cluet Pea pf (7). 112% Coca-Cola (7)... 159% Collins & Alkmn. 38 Collins&Aik pf 7. 101 Col Kuel & Iron.. 43 Colo Southern... 58% Col Gas & EI (5) 8% Col G & B pf (1) 1144 Col Carbon (4).. 63 Com Cred (2) Com Solv A (4). Com Solv B 20% Congress Cgr(3) 41% Consol Cigar.... 60% Consol Distribut 4 Consol Gas (5).. 96% Consol Textile.. 1% Cont Can (16)... 78% Cont Can pf (7). lfi'é 4% 51% T4% 9 3T Corn Prod (2). Coty Inc (4). Cructble St (5). Cuba Cane Sugar Cuba Cane Su pf. Cuba Co (4) . 50% Cuban-Am S (2). 6% Cuban Am pf(7). 103 Davison Chem.. 304 Del & Hud (9).. 160% Del L & Wn (17) 141% DRG Wstpf... 42% Detroit 12d (8).. 133% Dodge Bros CLA 29% Dodge pf (7).... ¥6% Dome Mines (2). 14 Dupont (119) 238% Dupont deb (6).. 104 Eastman (18)... 110% ([Eaton Axle (2).. 29% Eisenlohr & Bro. 13% Kl Auto Lt(16%. 68 Electric Boat... 6% Elec Power & Lt 20% Elec P& L Df(7) 94% EP&Lpf 40% (7) 103 Elec Refrig(f2). 17 Elec Sto Bat(t6) 817 End-John (5) 66% ErieRR. . 3b% Erie 1st pf. 40% Erfe 2d pt. 8% Eureka Vac (4). 49 Famous P1 (10). 124% Famous PIrts.. 5% FedLIght(*1.40) 31% Fed Min & Smelt 80 Fed Min pf (7).. 75 Fid Phoenix (6). 188% FratNP 15t19.44. 101 First Nat S(1%) 34% Fisher Body (5). 96% Fisk Rubber.... 19% Fleischmn(12%) 46% Foundation (8). 105% Fox Film A (4).. 69 Freeport-Texas. 324 Gabriel A(t4%). 33% Gardner Motor.. Gen Elec (h3)... Gen Elec sp(60¢) 11% Gen Gas pf B (1) 94% Gen Motors (116) 1464 Mot pf (7).. 118% Outdr Ad(2) 28% Gen Outdr A (4). Gen Petrm (). , 64 Gen Ry Sig t4% ./ 84 Gimbel Bros. . Glidden (2) Gold Dust. Goodrich Ru 54% Goodrich pf (7). 98y (2 331y 23 * wools was | Chrysler Corp(3) 34% 34% 102 1124 159% ank 101 43% 59 628 114l 634 21% 41% 61% 4 967 2 T8% 122% 11 48% b1% TAle 9 38% B0% 25% 103 89% 166% 143 42% 1331y 30% 867 14% 238% 104 110% 29% 14% 68 6% 20% 94% 103 1% 84 66% 36% 41% 384 51% 124% 5% 3% 80 5 188% 102 8414 9619 20 47% 106 69 11% 94% 146% 118% 29 53% B4% 63 339 848 11% 9% 143% 118% 28% 53% Nat Supply (4) Nat Tea (4).. Nevada Cop (1). NY Afr Brake(2) NY Canners(e2) NY Central (7). NY ChI&SIL (1) | NvegstL ot (8) NY Dack . NY & ITarl (5) NY N & Hart.. | NV On & Weat | NV Rysotfesta Norfk & Wn (+8) North A (B3.40). North Am pf(3). NthAm Ed pf(7) North Pac (5) Norwallk (1.60) . Nunnally (1.50). Omnibus . Onyx Hoslery... Onyx Hos pf(7). Orpheum Cir(2) Otis Elavator (8) Outlet Co (+314) Owens Rot ($4). Pac Oll (3). Packard Mot (2) Paize Mot(1.80). Pan-Am (8).... Pan-Am B (8) Pan.AmWnB(2). Panhandle. .... Panhandle pf. .. Park & Tiiford. . Pathe Ex (¢3) Penick & Ford. . Penn C & Coke . Pennsy R R (3). Penn-Seab Steel. Peoples Gas (8). Pere Marq (18). Pere M prior(5s). Phila& RC&I. Philip Morris. .. Phillips Pet (3). Phoenix Hosiery Pierce-Arrow. .. Plerce-Ar pf (8) 94% | Pierce Ol - 103 | Pierce Petrolm. 76%, Pitts Coal pf. Pitts & W Va( Postum (4.40). .. Prod & Refiners. Pub Ser N J (5). Pub § NT pf (7). { Pub S NJ pt (8). Pullman Co (8). s | Punta Aleg Sug. 31% | Pure L (H.... 80 | Radio Corpof A. 741 | Radio C pf (3%) 185% | Ray Cons Cop (1 Reading (4).... Reading rts..... | Reading 1st (2). i | Reading 24 (2).. Reid Tee Cm (3). ! Remington Type Remingtn 2d (8) 328 | Replogle Steel. . 331, Rep Iron & Steel 7y | Rey Tobac B(5). 70" | Robt Reis & Co.. 53 | Royal D(a1.339) 341 .| Rutland pt. 85% | Safety Cable (4) 11% | St Jaseph L(13). 94% | StL & SanFr () 145% ; St L Southwest.. 118% | St L Swn pf (5). 9 | Savage Arms (4) 837% | Schulte (§8) Seaboard Alr L. | Seabd AIr L pf. . 'Seagrave(e1.20). Sears-Rn (2%). 48% | Seneca Copper) . 53 | Shell Un (1.40).. 98Y | Shubert Theatre A 1 1 60% 13% 45w 42 8Y% 1025 35 1 24 4 25 502 1 0% 48Y% 63% % 491 2 51 964 Tan Rl 14% 16% 44% 96 30% 8 118 | i 484 63% bL ‘ Studebaker (6). 3% 834 2 Submarine Boat. | Sun Ofl (11). | Superior Ol | Symington. 5 180% | Symington A(3) 16% | Tenn Copper (1) Texas Co (3) Tex Guif 8 (10). Tex & Pacific. .. Tex & Pac C & O *Tex Pac Ld Tr. The Falr (2.40) . Thompson (3.60) Tide Water(1%) Timken (14).... Tobac Prod (7). Tob Prod A (7). | Transcont Ofl... | Twin City (5)... Un Bag & Paper. | Un Carbide (5).. UnoOfl (2)., Un Pacific (10) . Un Pacifie pf(4). | Utd Alloy (2)... | Utd Car St (B2). | Utd Drug (8). .. 39 40 | UtdDrg 1st(3%) 17 74 17 73 44 | United Fruit (4) USCIP&F(10) | US Distributing 88% 1297 | US Hoffman t3% 204 6% o 20% 554 22% 9 52% a1 26% 20% | 55% 22% 9 52% 106% 107 119 176 343 28% 43% 46% 18% 4%, * % 107% 109 119 179% 34% 28% 46% 47 14 96% 18% 42 445 48y 112% 112% 9% 51% 9% | U 8 Ind Alcohol. U S Ind Al pf(7). U S Realty (§).. U S Rubber. - U S Smelt (3%). U S Steel (7).. U S Steel pf (7). Universnl Pipe. . Univ Pipe pt (7) Utl P&Lt A(E2) Vanadium (3)... Van Raalte Vick Chemical Va-Caro Ch(n).. Va-CarCh 6% pf Va-Car Cn pf(7) Vivaudou. Wabash. . . ‘Wabash pf A(5). ‘Ward Baking B. Warner Bros. ... W Penn El A (7) ‘West P F1pf(7). West Maryland. ‘West Md 2d pf.. ‘West Pacific West Pac pf (6). West Unlon (8). West A Br(6%) 126 Westinghse (4). 69% Weston Elec. . .. Wheel & L Erl Wheel & L E pf . White Eagle (2) White Mot (4).. White Rock (2). ‘Wickwire ctfs. . Willys-Overland Willys 0d p£(7). ‘Wilson & Co new ‘Wilson A (new). ‘Wilson pf new. . ‘WoolwthFW (15) 172 ‘Worthn Pump... 81% ‘Wright Aero (1) 386% 85% Yel T&C(75¢)... 24% 25% Yel Tr&C p£(7). 100 100 Youngstown (4) 76% 76% oD pes e, s tock. B G—PlI C—Plus _B% in amed. . E-—Paya tPart) KPI“PC":‘% ‘I;Oi&‘o.el able $Plus 3% Bividend rates as given in the above table are’the ‘annuial cash Dayments' based on e o Al Fearly "aech | Am Water Wks 5 | Am Writing Pap 63 | Anaconda 1st | Anacondacvdb7s. 5 Andes Cop 7s rets. . 3 Armour&Co 4% s rf Armour Del 5%s. .. Associated Oil 6s. . Atlantic Refin is Barnsdall 6s ctfs Bell Tel Pa 65 B. Rell Tel Pa 55 C. Beth Steel pm b Beth Steel rf 5s.... Beth Steel 5%853. | Beth Steel 6s. ..... Brier H St 1st 545, Bklyn Fd gen 5. Bush T Bldg 53 60. Cen Leath 6s 45 cfs | Chile Copper 65 32. | Commonwlth P 6 Con Coal Md 18t bs Con Gas N Y 5%s. . | Consumers Pow bs. | Cuba Caneev7s... | Cuba Canecvss... Cuban Am Sug 8s.. Denver Gas bs. ... Dery (DG) 78..... Det Edison ref 6s. . Dodge w i 6s. Duquesne Light 6s. Est Cuba Sug T%s. | Empire G & F 7%s. | Fisk Rubber 8s. ... | Goodrich 6%4s. . ... | Good year 8s 1931.. | Goodyear 5s 1941.. | Hershey 5148 . Hoe & Co 6345. HumbleO& R § | Iilinots Bell 1st 5 | Tilinois Steel 43s.. Indiana Steel 5s. Int Mer Marine 6 Int Paper 55 47...« Int Paper . IntT&T6% g Kan CP&L b8 A 52. Kan G & E1 68 52... Lackawa S 58 50. .. Lacl G ref 55 34. Laclede G 5%s 52 Liggett & Myers &8 Lorillard (P) 58 Louisv G & E 58 52 Manati Sugar st 7% Mid-Con 6%5 40... Midvale Steel Montana Pow bs. .. Mor's & Co 1st 4%8 New Eng Tel bs. N Y Edison 6%s NYGELH&P NY Tel 4%s. N Y Tel 6s 41 N Y Tel 65 49 North Am Ed 6s. North Am Ed 6%s. Nor Ohio T & L 6s. Nor States Pow bs. PacT&T 1stbs... PacT&T5s62.... Pan-Amer Pete Peoples Gas 5s. Phila Co 5%s 38. PhilaCorf 65 A. Phila&RAC&16s Pierce-Arrow 8s. Producers & Rf 8 Public Service 6s P ServGasb¥%s Remingtn Arms 6s. Rep Iron & Steel 55 Sharon §tl H 8s. Sinclair Of1 Sokea o - PHARNRRO N ANARNE IR A NINOS ~ARa AN AR wE o © o Sin Crude Ol 6s. Sin Pipe Line 5s... 31 Man Ry 1st 80 Market St 7s 40. Ml EI Ry & L 5s. M St P & SSM cn 58 MRP&SSM55382td MK&T4sB MK & Tadf5e.... 3 MK &TprinbsA. IMK&T6eC .. Mo Pacific gen ds. . Mo Pac fs 1985, | Mo Pac6r4aD. Mo Pac 6= 55 Bt Nasen F Ny 4= N O Tex & MbsB NOT&MS%, i N Y Cengenity N Y Cent 45 98 I N Y Centdebds... NYCrfim4%si13 NYCentriSs.... X Y Cent deh 6s Y Cent LS el 3t%s NYC & StT, db ds., NYChI&StL 5155A. New Hav d 4 57 New Havan e d fs. NV Ont W 1st 4 N Y Ry NYState Ry 4%s. NV W & Bos4%n. | Nor & S wen fa54.. *| Norfolk & W cn 4s. | Northern Pac 4s. .. | Northarn Pac 58 D Ore Wash 1st rf ds. Pennsyl con 4%s. . Pennsyl gen 4148. . Pennsyl zen 5s.... Pennsyl 5= 64..... Pennsyl 6%s | Pennsyl rold 7s. | Peoria & E inc 4 Pere Marq 1st 5s PCC&StL5sB176. Reading gen 4% RIArk& Ld%s. St L TM&S R&G 4s. StL&SFpldsA. StL&SF prinés StL&SF5%sD.. |StL & ST adj 6 StL&SFinc 6s StL&SFpl6sC StL S W con 4s 32, 2 St P & KCShL 4%. St P Un Dep 5s. San A& Arn P ds.. Seab A L ref 4s | Seab A L-adj bs. Seab A L con 8s. | Seab All Fla 6s. Sou Pac 48 29. Sou Pacific clt 4s.. Sou 'acingc rer 4s. . Southern Ry gen 4s Sou Ry con 58 94 Sou Ry 6s 56 Southern Ry 6 Term Asso St L 5s. Third Ave ref 4s. ‘Third Ave adj 5s TolStL & Wds... Tol Tr L&P 5%s 30 Union Pac 1st 4 Union Pac 4s 27, Union Paccv 6s... Virginia Ry 1st 6s. VaRy &P 6 ‘Wabash 1st 5 ‘Wabash 2d 5s. ‘Wabash 53%8 75... West Maryland 4s. Wi = - Eiie Bomraniilcweiadan 9 o RedpaNoasny ‘West Shore 1st 4s. Wheel & L Ben ‘Wisconsin Cent 4 ; SALES. “apital Traction fe Washington Gas fis $1.000 a8 104 15" or 00 at 106 i A on Ry ‘(”{.g:‘hy‘w;”x Ris. & Flee. 4s—8500 at A2, Merzenthaier Linotspe—10 ar 108 GEOTEetoN | Gar B ST 000 ‘a1 'on | ae Wachington Rx""& Eiecirie' dn-—s2,000 Mones—call loans, 5 and # per cent Bid and Asked Prices. BONDS. oy PUBLIC UTILITY % | A 1«5\."1@55 T ‘i Tr's'l';'a k1 1 107% | Amer. Tel’ & Tel it ! 5s. 7av; | ADacosua & Poi KRG 943 | €. Ll 10114 (3. Acked. Washington G Washington Gan Vash.. Rwy Elec. 48" Wash. Rwy. & Elec. gen. s, MISCELLAN ‘0. Mfe. B P ok L Bk 5 Southern Bldz. G15s. . Wash. Mkt. Cold Storage 5 STOCKS. PUBLIC UTILITY, NATIONAL BANK. National Capital. 2 Columbia 3 4 5 ers & Mechani Federal- American - Liberty .o Lincoin 1 ° National Mairén TRUST COMPANY. American Security & Trust.. 3 Continental Tru Merchante' Bank. tional Savings' & Trust. st v e 3 Washh. Loan & T, Commerce & East W Seeurity Savings seventh Street. United States ... Washington Méchanics' Columbi: Title & Invest. Co. MISCELLANEOUS. By Do er : Merchants Tran. & Stor...." 118 Merenants Fran: & stor” i 10 v Linotype. Mersenthaier, Linoty % % “stock dividend. extra dividend. president on the executive council for the next year. It is felt by the mem- bers that the retiring president's ex- perience and counsel should be avail- |able to all committee meetings, and that under the present system the as sociation is losing valuable service. | The question of Dlishing {bankers' credit hureau. which w given careful consideration. was rated as one of the most import atters to he hrought up during the sion The family dinner was a fine wind- up. W. W. Spaid made a brilliant toastmaster: his ready wit kesping the guests in convulsions. According to . his cleverest You want to know how will live in hot water fust the date on the marriage fong a fis look at license.” Today's Local Stock Market. _ Bonds led the trading on the Wash- ington Stock Exchange today. Cap tal Tractoin 5s stood at 101, Washing- ton Gas 6s sold at 10215 on a small turnover and up to 104% on larger sales, Georgetown Gas 5s came out at 98 and two sales of Washington R way and Electric 45 went at 52. There was just one stock sale during the siop, that heing a 10-share turn- over of Mergenthaler Linotype at 10 Southern Dairies Directors. At a meeting Saturday in New York of the directors of Southern Dairies, Incorporated, the regular quarterly dividend of $1 was declared on the class “A" stock, payable July 31 to stock of record July 15 ‘Three new directors_were added to the hoard: George F. Rand, president, Marine Trust Co. Buffalo; Eugene V. R Thayer of E. Atkins & Co., New York, and Harry T. Peters, vice president, United States Distributing Corpora- tion, New York. " Bankers Off on Vacations. John Poole, president of the Federal- American National Bank, and Mrs. Poole are leaving Tuesday morning for an extended automobile trip through the New England States. William John Eynon, vice president of the Federal-American National Bank, has gone with his family to Eagles Mere, Pa.. where he has taken a cottage for the Summer. Mr. Evnon comes back and forth every week or o, CONVEhTS rmmn. NEW YORK, June 21 (#).—Gotham Silk Hoslery Company has converted $1,000,000 of its first preferred stock into non-voting common stock at $40 a share. The second $1,000,000 of the first preferred will be convertible into non-voting common at $45 a share. DIVIDENDS DECLARED. NEW YORK, June 21 (#).—Texon Oil and Land declared a quarterly dividend of 20 cents a share payable July 24 to stock of record July 10. Group No. 1 declared a dividend of $750, payable October 15 to holders of record October 1. Texon Oil and Land will rdceive $964,875 of the dividend authorized by group No. 1. -— TREASURY CERTIFICATES. (Quotations furnished by Redmond Noon. ) &co) ¥ ¢ ot i | E |